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Herald 


INTERNATIONAL 



... 

PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON p6sT~?~ 



The World’s Daily Newspapei 


Paris, Wednesday, December 10, 1997 


No. 35,700 


I 


Paris, Bonn 
And London 
Seek Merger 
In Aerospace 

Integrated Firm Could 
Compete With the U.S., 
3 Nations ’ Leaders Say 

By Barry James 

International Herald Tribune 


BRUSSELS. — Leaders of Europe's 
three leading aerospace-manufacturing 
countries issued an urgent appeal Tues- 
day to consolidate the industry into a 
combined civil-defense company to 
compete on a world-wide scale with its 
American rivals. 

In a joint statement. Chancellor 
Helmut Kohl of Germany, President 
Jacones Chirac and Prime Minister Li- 
onel Jospin of France and Prime Min- 
ister Tony Blair of Britain proposed 
expanding the European Airbus con- 
sortium into an integrated company tha t 
would also produce fighter jets, heli- 
copters and missiles. 

The leaders asked for a clear plan and 
detailed timetable for ihe consolidation to 
be presented in less than four months. 

•‘Time is not on our side," the French 
defense minister, Alain Richard, said at 
a news conference. 

Airbus already has a nascent military 
arm. which is weighing the production 
of a European transport aircraft early in 
the next century. 

The consortium, which groups the 
civilian aircraft industries of France, 
Germany, Britain and Spain, has well 
over 30 pereenr of the world market for 
civilian jets with more than 100 seats, 
and has said that it wants to increase that 
share to 50 percent. 

The leaders asked their respective 
industries to present a clear plan for 
integrating the civilian and defense in- 
dustries by March 31. The Airbus con- 
sortium is made up of Aerospatiale of 
France and Daimler-Benz Aerospace 
AG of Germany, each with 37.9 per- 
cent; British Aerospace PLC, with 20 
percent, and Casa, or Constnicciones 
Aeronautical of Spain, which owns 42. 
percent. 

In Rome, Prime Minister Romano 
Prodi immediately expressed “strong 
interest” in having Italy's Alenin group, 
which is involved in other projects with 
Airbus, join the proposed partnership. 
The French government said it hoped 
Saab of Sweden also would take part 
Constnicciones Aeronauticas also pre- 
sumably would be involved. 

The initiative coincides with the re- 
structuring of Airbus into an ordinary 
corporation by Jan. 1, 1999. 

with no common European corpo- 
ration law, it now has a peculiar struc- 
ture known as a “Grouping of Eco- 
nomic Interests.” in which the 
participating companies keep their in- 
dividual identities. 

A unified corporate status would en- 
able it to raise capital on the world 
market to pursue expansion plans, in- 
cluding the building of a more than 500- 
seat jet aimed at breaking Boeing Co.’s 
domination of the market for large 
widc-bodied jets with its aging 747 
model. Boeing has abandoned plans to 

See AIRBUS, Page S 



Rnt»JS«h»idmMniVABOifThT»nn-PM« 

The high-speed Thalys service will cut travel time between Paris and Brussels to an hour and 25 minutes. 

European Travel Hits the Fast Track 


By Barry James 

International Herald Tribune 


BRUSSELS — Europe will move 
into a new era of high-speed travel on 
Wednesday as France and Belgium 
inaugurate a railroad line that will clip 
more than 30 minutes off the trip be- 
tween Paris and several destinations in 
northern Europe. 

Albert EL king of the Belgians, will 
travel by special train to the Gare du 


Nord station in Paris on Wednesday to 
launch the service, which will cut trav- 
eling time for the 300-kilometer ( 190- 
mile) journey between Paris and Brus- 
sels to an hour and 25 minutes. He will 
be welcomed at the station by Trans- 
port Minister Jean -Claude Gays sot of 
France and Louis Gallois, president of 
SNCF, the French national railroad 
company. 

Commercial service, with depar- 
tures every hour in each direction — 


and every half hour at peak periods — 
will begin Sunday. 

The upgrading of the service is part 
of a four-nation collaboration to over- 
come national borders and make the 
train competitive with air travel. 

The service, known as Thalys, will 
branch out from Brussels to Antwerp, 
Rotterdam, Amsterdam. Liege, Co- 
logne and other cities. 

Sec TRAINS, Page 10 


Iranian Leaders Air 
Differences in Public 

Deep Divisions in Tehran Hierarchy 
Emerge as Islamic Summit Opens 


By John Lancaster 

Washington Post Service 


TEHRAN — Seeking to end its dip- 
lomatic isolation, Iran opened a summit 
meeting Tuesday of Islamic leaders 
aimed at forging unity among the 
world's 1 billion Muslims. But the gath- 
ering only underscored deep divisions 
within Iran itself, as the country's top 
political leaders offered starkly con- 
trasting views on relations between Is- 
lam and the West. 

In a fiery opening speech. Ayatollah 
Sayed Ali Khamenei, the country's su- 
preme leader, lashed out at Western 
powers, in particular the United States, 
which he accused of * ‘global arrogance’ ’ 
and assorted other sins against Islam. 

He railed against the “global Zionist 
media,” blasted the U w .S.-sponsored 
Middle East peace process as “unjust, 
arrogant, contemptuous and finally il- 
logical” and warned the United States to 
pull its warships out of the Gulf, which 
he described as “an Islamic sea.** 

But President Mohammad Khatami, 
a moderate cleric elected in May, made 
an entirely different impression, speak- 
ing of the need for tolerance ana un- 
derstanding among people of different 
faiths. 

He emphasized the need for civil so- 
ciety and the rule of law, called for the 
protection of religious minorities and. 
perhaps most surprising, urged his fel- 


Day of Reckoning for Asian Economic Giants 

Tokyo Weighs a Program to Rescue Banks Seoul Asks U.S. and Japan to Unlock Funds 


By Mary Jordan 

Washington Past Service 


TOKYO — Back in Japan's heady 
days, Isao Ogawa sewed custom- 
tailored suits for (he rich. But after the 
1991 stock market and real estate crash, 
he put his fine fabrics away. “People 
didn’t have big money anymore,” he 
said. **They started buying suits off the 
rack.” 

Mr. Ogawa, 55, now sells baked oc- 
topus snacks to commuters at a busy 
train station. He figured his modest new 
venture was safe because people will 
always be hungry. But he now reels his 
job threatened once again by a falling 
economy, 

“Usually December means money. 
It's when people spend. Not this year,” 
Mr. Ogawa said, as increasingly money- 
conscious people walked right by him 
and his $3.40 treats. “Life is hard.” 

Millions of people here feel the same 
way. It is difficult to find anyone — : 
young or old, student or pensioner — 
who does not feel at least pessimistic 
about the economic outlook. Apprehen- 
sion about corporate bankruptcies, lay- 
offs, stock market crashes and the di- 
minishing value of die yen against the 
dollar not only is making people glum, it 
also is changing their spending habits. 

In an effort to stem the gloom. Prime 
Minister Ryutaro Hashimoto made pub- 


lic Tuesday that be was studying an 
emergency plan to restore confidence in 
the nation's banks. Mr. Hashimoto is 
considering raising S80 billion by is- 
suing a new type of government bond 
and using that vast sum to stabilize 
financial institutions. 

Over the nen several days, more de- 
tails of die emergency package are to be 
released, including tax cuts intended to 
stimulate the economy and get people 
shopping again. 

“This wed: Japan either turns around 
or doesn't,” said Richard Medley, an 
influential political adviser to die fin- 
ancier George Soros and many inter- 
national investment groups. 

Mr. Medley, who is also associate 
director of Yale University’s Center for 
International Finance, said that if die 
government does not stabilize the 
banks, the stock markerwill drop and 
the yen will dive against the dollar. 
“But if they do. the Asia currency crisis 
is over,” he said “Ir*s that staik.” 

Many economists are warning of 
severe consequences if Japan does not 
intervene. It will be a “crisis the likes of 
which we have not seen in a major 
economy since the 1930s,” said Russell 
Jones, chief economist for Lehman 
Brothers in Tokyo. 

* ‘There are no soup kitchens yet, but 

See JAPAN, Page 5 


By Andrew Pollack 

Nev York Tunes Service 


SEOUL — South Korea's govern- 
ment, worried that the international res- 
cue of its economy has nor calmed its 
jittery financial markets, called Taesday 
on the 


quickly 

pledged 


United States and Japan to 
provide some money they had 
pledged only as a last resort 
The request, less than a week after the 
bailout was announced, comes amid 
growing signs that the International 
Monetary Fund's rescue program has 
not restored investor confidence in the 
country 's shaky financial system. 

Markets trembled Tuesday after more 
details emerged about just how close 
South Korea came to defaulting on its 
debt denominated in foreign cunency 
before the bailout was announced. The 
won is in free fall, having lost 20 percent 
of its value againsr the dollar in the last 
two days, stocks are tumbling and in- 
terest rates hover near 15-year highs. 

“If the U.S. and Japan committed to 
supporting the Korean economy, they 
should support the economy at the early 
stage, rather than waiting,” Finance 
Minister Lim Chang Yuel said in an 
interview Tuesday. “This trill stabilize 
tite markets here.” 

An IMF report released by Seoul said 
usable foreign -currency reserves were 
only $6 billion Dec. 2, the day before the 


accord was reached, Reuters reported. 

According to a Finance Ministry of- 
ficial, the Bank of Korea was burning 
through its reserves at the rale of as 
much as $2 billion a day to help the 
country’s banks, which had been denied 
access to short-term loans by foreign 
banks. That indicates Seoul had only a 
few days left before default 

The last official government figure 
for foreign-currency reserves was $30 3 
billion as of Oct 3 1 , which the IMF said 
shrank to $23.9 billion by Dec. 2. But the 
IMF said $17.9 million of that sum was 
unusable, as it was tied up in the offshore 
subsidiaries of South Korean banks, 
which needed it to pay off short-term 
debt as their credit lines were pulled. 

Mr. Lim denied increasing specu- 
lation in financial markets that the $60 
billion bailout would have to be in- 
creased. “I think we can make it." he 
said. But some of the money from 
Tokyo and Washington should be 
“front-loaded," he said. 

Washington pledged $S billion and 
Tokyo $10 billion. Bur the amounts, 
along with those of other countries, con- 
stituted a "second line of defense, " to be 
used only if the first line, $35 billion from 
the IMF, the World Bank and the Asian 
Development Bank, proved insufficient. 

The Clinton administration, in an at- 

See KOREA, Page 5 


‘New Britain 9 - A Work in Progress 


By Dan Balz 

H ashingiun Post Sen-ice 


LONDON — When advisers to 
Prime Minister Tony Blair began plan- 
ning for the recent British-French sum- 
mit meeting, they wanted the event to 
reflect not their tradition-bound coun- 
try of the past, but the best of what they 
Mil Rritjiin” — vounfi. stvlish 


call “New Britain" — young, stylish 
and informal. 

For the luncheon, they approached a 
rising young chef from Cambridge 
named. Anton Esculent. He was 
flattered by the invitation, but there was 
an unexpected catch. 

“I was asked if it would be possible 
to change my name to Tony for the 
dav,” he said. Somehow, the name 
Anton sounded too stuffy, too Con- 
tinental. for the meeting’s planners, 
although they backed down quickly 
when tbc chef resisted. 

The request seemed a perfect meta- 


phor for those skeptical of the rebrand- 
ing of Britain under way here, raising 
the question of whether the 4 * Cool Brit- 
annia” of the late 1990s is anything 
more than public relations hype, su- 
perficial labeling ' and cosmetic 
change. 

Almost everywhere you look, there 
are signs of change. From culture to 
cuisine to music to politics, this is a 
country moving out of the past and into 
the preseat. Some of it is faddish and no 
doubt transitory, but when analysts 
widen their view, they see a country in 
the midst of a longer-term transition. 

Britain is evolving from a nation 
encumbered by its proud but distant 
past to one that is more dynamic, more 
forward looking, more eager to em- 
brace change. It is a shift of potentially 
enormous significance, but it remains a 
work in progress. 

“New Britain is a single, neat slogan 
chasing a more illusive bundle of 


changes — many of them real.” said 
Peter Clarice of Cambridge University, 
author of a history of 20th-centnry Bri- 
tain- rati tied “Hope and Gloiy.” 

Some experts say the changes rep- 
resent a restoration of confidence after 
a half-century of decline. Britain, they 
say, has come to terms with its new 
status as a diminished world power and 
is ready to posh forward again. Others, 
such as Gareth Stedman Jones, a Cam- 
bridge historian, argue that the evo- 
lution represents a further “constric- 
tion of tne powers of the state” and 
therefore is. part of “the continuing 
story of British decline.” 

Whichever framework proves cor- 
rect, historians and cultural analysts see 
important changes both in the character 
of the country and in the relationship 
between the people and Britain's major 
institutions. 

See BRITAIN, Page 10 



KctnIUaly/IV AauiricdPio 

Tony Blair greeting a Continental colleague. Prime Minister Jean- 
Claude Junker of Luxembourg, on Tuesday at No. 10 Downing Street. 


low Islamic leaders to learn from the 
West if not to emulate it. 

“Our era is an era of preponderance 
of Western culture and civilization, 
whose understanding is imperative.” 
said Mr. Khatami, a mullah and ar- 
chitect of Iran’s 1979 Islamic revolution 
who lived for a time in Germany. 

He said that Islamic nations would 
succeed in moving forward only if they 
“utilize the positive scientific, techno- 
logical and social accomplishments of 
Western civilization, a stage we must 
inevitably go through to reach the fu- 
ture.” 

The two opening speeches were 
symptomatic of a deepening power 
struggle In Iran between religious hard- 
liners and moderates, led by Mr. 
Khatami, whose advocacy of greater 
cultural and personal freedom has won 
him widespread support among women, 
young people and the educated elite. 

Rarely, however, have those differ- 
ences been aired in such a stark and 
public manner. 

The two men spoke on the opening 
day of the eighth summit of the Or- 
ganization of the Islamic Conference, 
which brings together ministers, 
princes, heads of state and other dig- 
nitaries from 55 Islamic countries in 
Europe. Asia, Africa and the Middle 
East 

The presence of so many foreign 
leaders, many of them close allies of the 
West, has significantly boosted Iran's 
international prestige at the expense of 
the United States, which accuses Iran of 
sponsoring international terrorism and 
has sought to isolate the Islamic re- 
public through a trade embargo and 
diplomatic means. 

Iran is also seeking to use the three- 
day summit to improve relations with 
neighboring Arab countries that have 
long accused its clerical leaders of pack- 
aging their revolution for export. 
Among the Arab leaders in attendance 
Tuesday were President Hafez Assad of 
Syria, Yasser Arafat, the Palestinian 

See SUMMIT, Page 10 


Nearing Finish , 
Climate Talks 
Study 2 Offers 


By Joby Warrick 
ana Kevin Sullivan 

Washington Post Service 

KYOTO, Japan — Hoping to reach a 
compromise agreement at the conten- 
tious global climate conference, the 
United States and the meeting's chair- 
man offered separa reproposals Tuesday 
to reach a treaty to combat global warm- 
ing. 

With only hours remaining to reach 
agreement among 159 countries, offi- 
cials planned to negotiate through the 
night Tuesday to resolve an array of 
issues. Although the new proposals 
brought the American. European and 
Japanese positions closer, vast differ- 
ences remained on key issues that could 
still send delegates home Wednesday 
without agreement 

[Worried that the meeting might col- 
lapse at the last moment. Prime Minister 
Ryutaro Hashimoto of Japan called 
Chancellor Helmut Kohl of Germany. 
Prime Minister Romano Prodi of Jtaiy 
and Prime Minister Tony Blair of Bri- 
tain, asking them ro persuade the Euro- 
pean Union delegates to show “flex- 
ibility,” Reuters reported. 

[A White House spokesman said that 
Mr. Hashimoto also called President 
Bill Clinton and that both men were “in 
sync” on issues at the meeting.] 

The U.S. proposal offered to cut 
emissions of the 4 ‘greenhouse gases" . 
that cause global warming further than 
President Clinton's original call to re- " 
duce emissions to their 1990 levels by 
2012. Details were not made public as 
negotiations continued in private, but 
officials hinted that the reductions 
would be 2 to 5 percent deeper than the 
original offer. 

Raul Estrada-Oyuela of Argentina, the 
See CLIMATE, Page S 


Newsstand Prices 


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AGENDA 


The Dollar 


NRwYort TuadayO^PN 


DM 


1.791 


prev touadow 
1.7897 


50 Injured in Train Collision in Germany 


Pound 


1.6515 


1.8477 


Van 


-61.18 


129.735 

5.9925 


TuoRfcydne 

8049.56 


S&P 500 


130.525 

5.9885 


8110-84 


change Tuwday • 4 P.M pmtousdosa 
1^59 975.78 962.37 


HANNOVER, Germany (Reuters) — 
A freight train and a regional passenger 
train collided head-on here Tuesday, 
injuring at least 50 persons, police raid. 

A police spokeswoman said both 
train drivers and a 19-year-old woman 
passenger were seriously hurt while oth- 
ers suffered light injuries. 

The collision occurred on a suburban 
stretch of track in the district of Han- 
nover- Anderteo shortly before 5 PM. 
The cause was not immediately clear. 


Three of die freight wagons burst into 
flnwy-g after the impact, but a team of fire 
fighters managed to put out the blaze 
before it reached a fourth tank wagon 
containing a potentially explosive diesel 
fuel mixture. 

The engine and the first three cars of 
the northbound passenger train, hearting 
for the town of Celle, were derailed by 
the force of the collision and the front 
car was completely wrecked, the 
spokeswoman said. 


RAGE TWO 

In Jfenesuela, Beauty h a Business 

THE AMERICAS Page 3. 

Bern Again Defies Congress 

ASWPACJFtC Page 4. 

China Fires tfabal Shots at US. 


EUROPE Page?. 

German Military Officers Punished 

WTERNtATTOMAL Page 6. 

Branson’s Balloon Leaves Without Him 


OPINION Page 8. 

Money's Supranational Government? 

BUSINESS/FI NANCE Page 13. 

The NBC-Dov Jones Merger 

Books Page 12. 

Crossword Page 12. 

Opinion Pages 8-9. 

Sports Pages 22-23. 


Tho Jntrnmartcet 


Pages 4, 11. 


The 1HJ on-line vnvw.iht.com 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 10, 1997 


PAGE mo 


lA Point of Pride / Or Unhealflty Obsession? 


Venezuela’s Love Affair With Beauty Pageants 


U.S. Agency Details 
Picture of TWA Crash 


r 1 " ■ 


ai*«i 


C ARACAS — They are called “Miss" 
here. And that is enough. Miss, as in Miss 
Venezuela, Miss Latin America, Miss 
World and — the envelope, please — Miss 
Universe. 

Thanks to a training regimen that involves hours 
of practice a day in w alking , speaking, stretching 
and starving, Venezuela has become the beauty 
queen factory of the world. 

In certain cultures, formal beauty contests are the 
kind of event that people look down on as sexist or 
foolish. The BBC is reportedly considering whether 
to stop broadcasting them as altogether too silly. 

Bur here, the contests are a source of national 
obsession and pride. Over the last 20 years, 
Venezuelans have held crowns in 10 top international 
pageants, a record unmatched anywhere. Four of the 
last 1 8 Miss Universes were from Venezuela. Twice, 
women from this nation of 21 million won Miss 
Universe and Miss World simultaneously, in 1996 
and in 1981, an unparalleled feat 
“It’s not that women here are more beautiful," 
said GisseUe Reyes,, a former beauty queen who 
runs a modeling agency here, “it's that we prepare 
harder for it” Miss Reyes is part of the team that 
trains the future Misses for competition. 

In the month before the Miss Venezuela pageant 
in September, newspapers feature long interviews 
with each of the 29 contestants. 

Much in the way Brazilians follow soccer, 
Venezuelans analyze the relative merits and short- 
comings of the contestants as the big night ap- 
proaches. And everybody knows the Venezuelan 
version of that American anthem to cotton-candy 
dreams, “There She Is": 

On a night as beautiful as this. 

Any one of us could win. 

Be crowned Miss Venezuela, 

And finally see our dreams come true. 

So sang, for instance, Elisabetta Balasso, director 
of the National Gallery of Art's education de- 
partment. Miss Balasso rues die contest's impor- 
tance in Venezuela, which intensifies as the pageant 
approaches until it is inescapable. “It’s in the air,” 
she said. “The bottom line, though, is it’s a chance 
to make it that the women would never have.” 

The proof of that is Irene Saez, who has gone 


By Diana Jean Schemo 

New York Times Service 



By Matthew L. Wald 

New York Times Service 


BALTIMORE— TheNanonalTrans- 
portarion Safety Board, in its first thor- 


explain why they did not think there was 
a bomb or missile. 

The investigators integrated informa- 


tion from eight radar sites around the 
northeastern United States, radio trans- 
missions from the Paris-bound jet itself, 
“witness' marks" showing where in- 
terior pans of the plane crashed into 
each outer, analyses of the trajectory that 
each part erf the plane would be expected 

to take as the Boeing 747 blew apart, 
locations of the wreckage on the ocean 
floor, and analyses of thousands of frac- 
tures. They built a case for explosion of 
the center fuel tank from causes internal 
to the plane, although just what causes 
those were is not yet clear. 

“Like every other investigator up 
there, I spent hours looking for every 
s ing le piece that could point to a cause.' ' 
said Richard Botu a missile expert from 
the U.S. Navy’s base at China Lake. 
California, who said he had examined 


Mw l Af^UmO hr -V» Y*tTig 


Irene Sties, a former Miss Universe, is a contender for president of f&nezuela. Over 
the last 20 years, Venezuelan women have won 10 top international pageants . 


contests are not a race, they’re a religion.” 

Some here consider her success a troubling sign of 
their country’s tendency to settle for appearance 
rather than substance. “What people vote for is the 
image of a beautiful woman, ' ’ said Agustin Blanco, a 
professor of history at the Catholic University of 
Venezuela, “not a woman who is judged on her 
intelligence, her capacity and accomplishment’ ' 

Indeed, there is not much interest in trading in the 
macho ideal of women as super-femme flirts for the 
more realistic picture of women as workers, often 
holding families together on their own. Inquiries as 
to whether there is a feminist movement in tofrn 


70 percent to 80 percent of the population, the 
television station that broadcasts the Miss 
Venezuela pageant pays all the costs of (raining, 
grooming and dressing the women selected from 
hundreds to Compete for the titles of Miss 
Venezuela and Miss Universe, Miss Reyes said. 
Their training costs an average of $60,000, and 
takes six months of 16-hour workdays. 


TWA Flight 800, has displayed its own 
video animat ion and painted a picture 
wife significantly different details from 
fee one laid out by fee CIA lost month. 

The safety board’s version, which 
came Monday on the first day of a week 

of heatings, also provided more detail 
into why fee board does not believe a 
missile or bomb was involved in fee 
crash of the Boeing 747 off the south 
shore of Long Island last year, killing all 
230 people on board. 

In the safety board's simulation — 
without fee music or professional an- 
nouncer of fee CIA video — the ex- 
plosion in the center fuel tank took less 
than a second to spew debris from fee 
plane’s belly, including part of fee keel 
beam, which provides much of the sup- 
port for the fuselage. 

Then fee breakup of fee plane slowed 
or stopped, but the nose began to droop 
and fee sides compressed until fee area 
in front of fee wings broke off, and 
began an almost leisurely flutter to fee 
water, taking about 90 seconds. 

The wings and everything behind 
them, however, continued for more than 
two miles and climbed from about 
13,700 feet (4.200 meters) to perhaps 
13,000 feet, before twisting north and 
south and plunging to the surface, wife 
the left wing breaking off shortly before 


dozens of crashed warplanes. 

But he could not Find anything that 
looked like missile damage. 

“There’s no large areas of missing 
structure on the aircraft feat could contain 


The safety board’s 
fthflimifln said it was now 
the largest investigation 
into any transportation 
accident in U.S. history. 


T he women I earn how to apply makeup and 
style their hair, and most need to lose at least 
10 pounds to look good on camera. Teeth 
ore straightened, noses are narrowed, hair is 
grown past shoulder length, and the silicone flows. 

Maria Kallay. manager of fee Miss Venezuela 
Organization, said feat preparing for fee Miss 
Venezuela contest was a full-time job, and that 
contestants took leaves of absence from work or 
school to train. Anybody not willing to put in the 
time, she said, cannot compete. 

M arena Bencomo, last year’s Miss Venezuela and 
first runner-up for Miss Universe, said that though 
the training bod been intense, it had made her more 
independent, especially as her parents had stayed 
home in provincial Valencia. Winning gave her the 
kind of advantage that usually comes from having a 
powerful politician for a father. Now a third-year 
anthropology student, she also has her own weekly 
television program on entertainment news. 

‘ ‘It’s being known for what you do and who you 
are," Miss Bencomo said, "not because you’re so- 
and-so’s daughter or niece.” 


invariably prompt men and women alike to point 
out what is wrong wife feminism — even though fee 


from top contender on the runway to top contender 
in presidential elections next year. A former Miss 


out what is wrong wife feminism — even though fee 
answer is no, there is no such movement here. 

This dislocation produces a strange city, wife an 
aura of sexuality bordering on fee absurd. Young 
women totter to office jobs on suspenseful heels — 
last year, the style was clear plastic, like glass 


in presidential elections next year. A former Miss 
Universe who is mayor of Chacao, a district in 
Caracas, Miss Saez rose without fee otherwise 
crucial support of traditional parties. 

Now, the parties are courting her to represent them 
in presidential elections, despite her scant political 
experience. She said feat becoming a beauty queen 
in Venezuela 16 years ago singled her out forever 
after, causing her accomplishments, her travels, her 
elections and her romances to be closely followed in 
fee news. “In Venezuela,” Miss Saez said, “beauty 


slippers, over polished toenails — and wear open- 
back or short dresses. 


back or short dresses. 

Classified ads specify buena aparencia, meaning 
that only good-looking women need apply. 

The biggest dose of reality may have come, not 
surprisingly, from a Miss. After becoming Miss 
Universe 1 996, Alicia Machadoimmediately put on 
19 pounds. She told an unforgiving local press 
essentially to get a grip, saying she had starved to 
win fee title. The night she won, she dreamed only 
of eating normally. 

In a country where poverty is estimated to afflict 


impact, creating a fireball 
The CIA’s version, in c 


The CIA’s version, in contrast, por- 
trayed fee wings and fuselage as climb- 
ing to 17,000 feet, trailing flaming fuel 
in a way that convinced witnesses on the 
south shore of Long Island feat they 
were seeing a missile. 

Where fee Central Intelligence 
Agency had fee major fragment of fee 
plane veering to fee north, fee safety 
board had it twist first north, toward fee 
beach, and then south. The first turn 
would have given observers the per- 
spective that the plane was continuing to 
climb, board' experts testified Monday. 

James Hail, chairman of the safety 
board, said it was now fee largest in- 
vestigation into any transportation ac- 
cident in U.S. history. 

The engineers, freed from months of 
official silence caused in part by their 
cooperation in fee criminal investiga- 
tion conducted by fee Federal Bureau of 
Investigation, laid out their analysis in 
excruciating detail, their first turn to 


all fee damage from a warhead,” he said 
Nor was there any place where a “dud 
missile” could have hit the plane, he 
added, and fee possibility of a stray frag- 
ment from a missile self-destructing and 
penetrating the skin wife enough energy 
to ignite me tank was "sheer improb- 
ability piled upon improbability.” 

James Wildey 2d, senior metallurgist 
at the safety board, described spending 
weeks examining the wreckage of fee 
center section of the plane that was 
reconstructed in a hangar in Calverton. 
New York. He said it was “some of fee 
most examined metal in the world.” 

The board showed two animated 
videos of fee last moments of fee plane, 
which differed in some key respects from 
the one produced by the CIA and released 
by fee FBI two weeks ago. But they still 
showed a decapitated airplane coming 
apart, fee cockpit and first class section 
rambling to the water and the section 
from fee wings to fee tail gaining altitude 
and then plummeting into fee sea. 


TRAVEL UPDATE 

8 Airlines Protest Decree . 


WEATHER 


ROME (Bloomberg) — Eight European 
rlines using Milan’s Linate Airport have filed 


heritage of 
yesterday., .today. 


Hotel Sofitel 


IS NaoOi'Yw Street. Hudl 
Socialist RmnurOr Veimm. 
Tin, :iM.4i 8.266 *18 
Fax; 184 418.266 92l) 
E-mail . Sofmctteneaam.ora.vii 


airlines using Milan’s Linate Airport have filed 
a complaint wife the European Union, seeking 
reversal of a decree that would shift most 
flights to Malpensa Airport — more distant 
from fee city center — by October 1 998. 

The airlines — British Airways, Iberia Air 
Lines, KLM Royal Dutch Airlines, Lufthansa 
German Airlines, Olympic Airways. Sabena 
Belgian World Airlines, Scandinavian Air- 
lines System and TAP Air Portugal — say fee 
decree is discriminatory. 

The decree would permit only Alitalia, the 
Italian line, to continue using Linate, for 
Milan-Rome routes. The airlines believe it 
distorts competition "by giving Alitalia a 


The aim is to lighten traffic at Linate. but Mr. 
Benincasa said that Malpensa and access to it 
will not be ready to support such passenger 
flow in late 1998. 


Europe 


Eurotunnel PLC described November 
1997 as a good month despite the French 
trucking strike. It earned 239,248 personal 
vehicles on its tourist shuttle and 7,890 buses. 
Eurostar trains carried 459,312 passengers, 
freight shuttle was 45,225 trucks and rail 
freight was 291,381 metric tons. (AFX) 


Cop e n/rper 

CoetaDdSd 

□ubte 

Edrtuph 

Ftawncs 

Fantfift 


unique market position," said Marco Ben- 
incasa, British Airways spokesman in Milan. 


A central aspect of New York City public 
transit would change under a plan to in- 
troduce monthly, weekly and daily nnlimiteri 
travel passes — at $63 a month, $17 a week or 
$4 a day, wife half-price passes for people 
over 65 and a fare cut on express buses to 
Manhattan from $4 to $3. (NYT) 


laartni 

Kjw 

LosPsknos 

Lisbon 

London 

AM* 



Interest Rates Up or Down? 

Interest Rate Policy Will Generate 
Major Currency Moves. 

These moves will directly affect the value of 
your Portfolio Prepare yourself to take 
advantage of these moves by calling today. 

PC 


Mem 



For My Complimentary Services Guide. Latest Research Reports. 
Opinions and Performance Records Call (24 hours) Toll-Free. 



Italy Plans Night Shows at Pompeii 

The Associated Press 

ROME — The Culture Ministry said- Tuesday it would 
presenta plan to stage a light and music show in Pompeii from 
Easter to November for fee next four years. 

Floodlights will illuminate 2,000-year-old hemes, and 
melodies reminiscent of Roman times will play when fee 
ancient Roman town opens for nightly visits. Tourists visiting 
at night will walk along a path, stopping at eight stations where 
various scenes of Pompeii’s history will be recreated — 
including the eruption of Mount Vesuvius in 79 A.D. 


SSL 

a.PMvtiug 

Stocfttotai 


Tadqp 

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OF OF 
lira 1203 pe 
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UM -7(20 pc 
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8(43 1(34 c 

8(46 8M6 r 
12(53 1TS2 r 
4/38 408 in 

8H» 6(0 «h 
ZKB 11(82 pc 
13155 8(46 ill 

wa a/46 r 
12(53 7(44 pc 

7(44 6(43 r 

7/44 6(43 r 
3(37 -Iftl rfi 
6(43 £Q5pe 
-WZ7 -4Q5C 
23(73 18*4 a 
17782 13155 pc 
14(57 11(52 pc 
14(57 8(43 C 
17 (52 lOW pc 
8U6 6(43 PC 
■8B7 -TOOK 
6(49 5(41 * 

16(59 13166 c 
3135 -i(3i in 
1203 liner 
4(39 3Q7 r 

2(35 -4«5e 
409 1(34 c 
14(57 6(43 pc 

1/34 -1Q1 an 
409 206*1 


Forecast for Thursday through Saturday, as-provided by AocuWdather. Asia 


W*i Lw* 
OF OF 
19(86 13(55 pc 
10(50 205 r 
307 -6(22 c 
1353 10(50 c 
19(86 12153c 
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11(52 3(37 r 
10(50 7(44 r 
7/44 6(41 r 
21 m 12153 pc 
SMS 205 pc 
0(48 307 r 
17)62 1203 dl 
«8 4(39 r 
1050 4(39 r 
104 -M9 *1 
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North America 

Dry over moat of the coui- 


Uy Thursday through Sat- 
urday. Lots of sunshine In 
the West with pleasant 


the West with pleasant 
aft a noon s and quite warm 
lor (he time ol year. Dry 
and Cold fa the Ptakw end 
Midwest' Cold with some 
snow from the Greet Lakes 
to New England; showers 
near ihe East Coast. 


Europe 

Vtindy and m3d wtth rain h 
London and Paris Thurs- 
day. then dry with some 
sun Friday and Saturday. 
Soaking rain Is In store 
from Genrany and Poland 
on south to the northern 
foothills of the Alps. Dry 
and mMwfah Iota of swi fa 
Spain. Italy wil have some 
raft Friday and Saturday. 


Cold and dry In Beijing 
Thursday, than mBder wBh 
showers poesble by Satur- 
day. Dry and chilly In 
Tokya but mdder again by 
Saturday. Cool with soak- 
ing rain over southeastern 
China from Taiwan to 
Hong Kong Thursday and 


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CWBfflbo 2984 23(73 r 

Haro 16(61 11(52 pc 

HoOiUnh 32(80 21/70 c 

Hong Kong 18/61 13(55 pc 

Msmata d 2373 5(41 a 

Jakarta 3 am 23(73 r 

Karachi 2954 13/66 c 

K. Limptr 31(88 23/73 r 

K. Khtetou 28(82 Z3/73«h 

Mar* 29(54 21(70 M 

NcvrOcW UWJ4 10/50 pc 

nmaraPcnh 2954 21.70 c 

PftuM 20«2 <966 pc 

Rangoon 29(54 17<62 pc 

sm -ana -ana ps 

Shwtfwi 409 -4CS* 

Sngspcn 27(00 24/761 

TatM 18(61 12(53 ah 

Tokyo 10(60 2/35 s 

jtejM 26(79 11(52 pc 


Friday, then mMer by Sat- 
urday as the rain stuns far- 
ther north. 


Legend: sonny, poparty cloudy. ««ttuOy.s»MhOiiBra.rtiundarelanra.Mtei.sienow0uiilas. 
srvenoM, Hce, W-Weatiar. 


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Houston 14(57 307 pc 
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Reno Stands Firm Under House Questioning 


POLITICAL NO/t 


By Brian Knowlton 

Mffrwtfftpmi/ Herald Tribune 


WASHINGTON — Attorney Gen- 
eral Janet Reno faced pointed ques- 
tioning Tuesday from Republicans on a 
House committee investigating cam. 
paign fund-raising, but stoutly defended 
her decision not to seek an independent 
counsel to investigate President Bill 
Clinton and Vice President A1 Gore. 

Before a packed hearing room, she 
again refused to produce a memor- 
andum from the FBI director, Louis 
Freeh, in which he reportedly urged her 
to seek an independent counsel. 

Ms. Reno told the House Govern- 
ment Reform and Oversight Committee 
that her relationship with Mr. Freeh was 
“excellent.*’ 

She could face a contempt-of-Con- 
gress citation for defying die committee 
subpoena for the memo, although die 
panel’s chairman. Representative Dan 
Burton, Republican or Indian a and long 
a harsh critic of hers, did not pursue the 
question. 

The political divide running through 
the panel, and through much of the cam- 
paign fund-raising debate, was on dis- 
play throughout the charged hearing. 

Mr. Burton, a conservative Repub- 
lican. said in an opening statement that 
“the need for an independent co unsel 
couldn't be more dear.” Ms. Reno has 
shown “all the appearances of an at- 


torney general protecting the presi- 
dent," Mr.. Burton said. 

She responded with cool intensity, 
saying: “I'm not ducking anything. I’m 
not protecting anybody. I’m trying to do 
the job of conducting an investigation in 
the right way.” 

Ms. Reno pledged an impartial and 
painstaking inquiry. 

“I don’t care where the facts lead, 
because I am going to follow them as far 
as and wherever they go,’ ’ she said. 

The ranking Democrat in attendance, 
Representative Tom Lantos of Califor- 
nia, lashed back at the Republicans for 
what he called “cheap, petty, partisan 
political attacks.” 

He charged that Mr. Burton's open- 
ing statement was “so pregnant with 
inaccuracies, misstatements, innuen- 
does and false statements that were 1 to 
respond to all of them we would be here 
till midnight. ” 

The investigation by the Republican- 
controlled committee, Mr. Lantos said, 
had been “the most lopsided and partisan 
investigation in American history.” 

For his part, Mr. Burton dwelled on 
the differences between Ms. Reno and 
Mr. Freeh over naming an independent 
counsel. She announced Dec. 2 that she 
had found no sufficient grounds to seek 
such a counsel over alle gations that 
President Clinton and Mr. Gore made 
illegal f und- raising phone rails 

The Indiana representative said that 


this was the first time in memory that an 
attorney general and an FBI director had 
“disagreed so publicly about such an 
important case” and that he wanted to 
. know tiie source of the discord. 

Ms. Reno said that to make public the 
memo from Mr. Freeh could jeopardize 
ongoing investigations and “chill the 
free exchange of ideas’ ’ between herself 
and those she worked with. 

“It zs teiribly important that politics 
not be a pan of this, ’ she said. “2 don’t 
want ‘yes’ people around me and I can 
say proudly that I haven’t had ’yes’ 
people around me." 

She called Mr. Freeh “one of the 
most dedicated public servants I know" 
and “the kind of director of the FBI I 
want" 

“We have a strong, and very am- 
icable working relationship," she con- 
j’t think ai 


tinned, “that I don' 


anybody’s 


going to bust up." 

Mr. Burton and the panel's Demo- 
crats jousted over what Mr. Lantos im- 
plied was a Republican attempt to do 
just that 

Mr. Lantos wanted Ms. Reno and Mr. 
Freeh to appear side-by-side , offering 
testimony together, rather than having 
Mr. Freeh follow her later in the day. 
But Mr. Burton and the Republicans 
narrowly prevailed in two procedural 
votes on the matter. Mr. Freeh sat be- 
hind Ms. Reno, waiting to testify later. 

Reports about Mr. Freeh’s differ- 


Ambassador’s Body 
To Leave Arlington 

Widow Says Controversy Prevents 
Husband From ‘Resting in Peace 9 


*■ A w n .1 Ifct rftii ■ • 


By Terry M. Neal 
and Stephen Barr 

Washington Post Service 

WASHINGTON — The 
wife of the late Ambassador 
M. Larry Lawrence has asked 
President Bill Clinton to re- 
move her husband’s body 
from Arlington National 
Cemetery because “the con- 
troversy of the past few days 
precludes his resting there in 
peace.” 

Shelia Davis Lawrence did 
not address charges that Mr. 
Lawrence should not be buried 
in the cemetery because be had 
lied about being in the Mer- 
chant Marine during World 
War EL She wrote Mr. Clinton 
that her husband’s service as 
ambassador to Switzerland 
justified his burial there. 

But she added, “There is 
much that I still do not un- 
derstand about recent 
events.” She said she would 
move her husband’s body to 
Son Diego, where it would be 
close to family and friends. 

In his written reply, Mr. 
Clinton said: “It is with a 
deep sense of personal sad- 
ness that I received your letter 
tins afternoon. I will of course 
ensure that the Department of 
Defense accommodates your 
wishes.” 

The controversy over Mr. 
Lawrence 's burial grew out of 
heated exchanges between 
the White House and conser- 
vatives last month over al- 
legations that Mr. Clinton had 
rewarded Democratic donors 
with plots at Arlington. Mr. 
Lawrence, who died in 1996 
at his official residence in 
Bern, gave about $200,000 to 
Democrats from 1991 to 

1 W 6 . 

Mr. Lawrence was one of 
69 individuals in the last five 
years who received special 
waivers to be buried in Ar- 
lington. Last month, White 
House and Army officials, 
citing Mr. Lawrence’s war- 
time record, defended their 
decision to allow him to be 
interred there. 

But last week. House Re- 
publican investigators said 
that a search of military re- 
cords turned up no evidence 
to support Mr. Lawrence’s 
claim that be served in the 
Merchant Marine or aboard 
the Horace Bushndl in March 
1945 when it was sunk by a 
German torpedo while part of 
a convoy headed toward the 
Russian port of Murmansk. 

Some Republicans and vet- 
erans groups in recent days 
raised the prospect that Mr. 
Lawrence’s body should be 
removed from the cemetery, 
the nation's most hallowed 
ground for military heroes, if 
it were proved he fabricated 
his Merchant Marine back- 
ground. . . 

An army spokesman said 
that no bodies had been dis- 
interred at Arlington under 
circumstances similar to 
those in Mr. Lawrence s 

Records released Monday 
suggest that Mr. LawTeoce 
was a full-time college stu- 
dent in Chicago during the 
time he claimed to be aboard 
the Busline!!. 

Ruth Moscovitch. general 
counsel for the City Colleges 
of Chicago, said that an in- 
dividual named Maurice 
Lawrence, with date of bum 

Aue 16 . 1926.” was enrolled 
at Wilbur Wright College 


from September 1944 to June 
1945. 

Maurice was the late, am- 
bassador’s first name and the 
birth date matches the date that 
Mr. Lawrence, who was bom 
in Chicago, provided such 
publications as Who’s Who in 
American Politics. On govern- 
ment forms and in conversa- 
tions with State Department 
colleagues, Mr. Lawrence 
claimed to have been aboard 
the BushneH during the tor- 
pedo attack and said be was 
thrown overboard and suffered 
serious bead injuries. 

After Representative Terry 
Everett, Republican of 
Alabama, who heads a House 
Veterans Affairs subcommit- 
tee, questioned whether Mr. 
Lawrence had served in the 
Merchant Marine, Mr. Clin- 
ton asked the State . Depart- 
ment to investigate the lane 
envoy's record. 

“This has our highest pri- 
ority and we axe conducting 
an extremely thorough inves- 
tigation," a - department 
spokesman, James Foley, 
said Monday. Mr. Foley said 
the investigation would be 
completed “as soon as pos- 
sible." 

State Department officials 
have been examining the 
forms Mr. Lawrence filed for 
his security clearance as an 
ambassador and for federal 
employment. At the time of 
Mr. Lawrence’s nomination 
in 1993, investigators for the 
Bureau of Diplomatic Secu- 
rity included a notation in Mr. 
Lawrence’s files that they had 
been unable to verify his Mer- 
chant Marine service. 

Questions also had been 
raised about whether Mr.. 
Lawrence attended and 
graduated from the Uni- 
versity of Arizona, as he had 
claimed in some biogra- 
phies. 

For instance, in the 1977- 
78 edition of Who’s Who in 
American Politics, Mr. 
Lawrence claimed to have re- 
ceived a bachelor of arts de- 
gree from the school in 1947. 
But the university is ada m an t 
in denying that he holds a 
degree from the schooL 



H_M C mnn TTip i\nn n jaTurl Ptcw 

LET IT SNOW— Residents of South Lake Tahoe, 
California, digging out after a foot of snow fell 


ences with Ms. Reno over the memo led 
to a tepid endorsement of the FBI di- 
rector from the White House spokes- 
man. Asked last week whether Mr. 
Freeh had Mr. Clinton’s confidence, the 
spokesman, Michael McCurry, replied 
that “the president has great confidence 
that Louis Freeh is leading that agency 
as best he can.” . 

Mr. Burton called Mr. McCuiry’s 
comments “disgraceful” and deman- 
ded an apology. 

He also asked whether Ms. Reno was 
not troubled by yet another controversy 
— over the belated production by the 
White House of notes long sought by the 
committee. 

The notes were taken by a White 
House aide, Janis Kearney, and include 
discussion of “money” coffees in the 
White House for major donors and a 
"political” coffee for political and 
community leaders. 

The notes, heavily blacked out, were 
among those subpoenaed months ago by 
Congress. 

Without addressing the issue of those 
notes, Ms. Reno said that an earlier such 
instan t:* Had left her ‘ ‘really mad. ” 

Mr. Burton made an unexpected of- 
fer, saying he would support the ap- 
pointment of an independent counsel to 
take over the entire fund-raising inves- 
tigation, including allegations that he 
himself once threatened a lobbyist over 
fund-raising. 


Away From Politics 

• The space shuttle flight to Mir sched- 

uled for next month has been delayed by 
NASA, leaving the U.S. astronaut David 
Wolf on board the Russian outpost for at 
least an extra five days. Russian space 
officials had asked NASA to delay En- 
deavor’s launch to allow time for ad- 
ditional work on Mir. Meanwhile, 
gouges discovered on Columbia’s 
thennal tiles after the shuttle's return 
from a two-week science mission are 
being investigated before Endeavor is 
cleared for flight. (AP) 

• A man wanted for hijacking a U.S. 

plane and diverting it to Cuba in 1969 
has been arrested after trying to enter the 
United States from Canada. U.S. im- 
migration authorities detained Felix Ro- 
lando Peterson-Coplin at Alexandria 
Bay, New York. (AP) 

• Homes and businesses in California 
were dug out of mud from a torrential 
storm that caused $1 0 million in damage 
and at feast one death. The run was 
followed by snow, which made driving 
hazardous on some highways. (AP) 



J. Swii AjT*r»t»le/rbc Am dialed Prcv. 

Bill Lann Lee, right, applauding a speech by Representative John 
Lewis, Democrat of Georgia and ex-civil rights leader, to celebrate 
the 40th anniversary of the Justice Department’s civil rights division. 


White House Fights 
For Lee Nomination 

Washington — The white 

House said Tuesday that Republicans 
had “gone too far" and were ali- 
enating Americans of diverse back- 
grounds by blocking the nomination 
of Bill Lann Lee for the nation’s top 
civil rights job. 

If Republicans continue to resist 
Mr. Lee’s nomination. President Bill 
Clinton will put him in the job while 
Congress is m recess and unable to 
stop him. White House officials said. 

But first, the administration is try- 
ing to build pressure on Republicans 
to allow a vote on Mr. Lee. , 

“I think the Republicans ought to 
think about what they’re doing to 
themselves when they insist on their 
very narrow, hard conservative point 
of view as being the only legitimate 
view on the subject of civil rights,” 
the White House spokesman. Michael 
McCurry, said. “They alienate a large 
number of Americans from very di- 
verse backgrounds. ’ ’ 

He said of the Republicans: 
“They’ve gone too far. Qmn Hatch 
has gone too far in insisting that his 
personal political philosophy ought to 
prevail over the president who was 
elected by the American people.” 

Mr. Hatch, a Republican senator 
from Utah, chairman of the Judiciary 
Committee and a foe of Mr. Lee's 
nomination, sought to discourage Mr. 
Clinton from making a recess ap- 


pointment to become head of the 
Justice Department's civil rights di- 
vision, warning in a letter that such a 
move could chill the president’s re- 
lations with Congress. (AP) 

Jones Amends Suit 

LITTLE ROCK, Arkansas — 
Paula Jones is asking for less money- 
but making more allegations about; 
Bill Clinton in a new version of her- 
sexual harassment lawsuit against the; 
president. 

The revised complaint, filed Mon-- 
day, adds assertions that Mr. Clinton., 
as governor of Arkansas, gave pref- 
erential treatment to female state em- 
ployees who succumbed to his sexual 
advances. 

The changes had been expected after 
a judge gave Mis. Jones permission 
weeks ago to alter her lawsuit. 

The new version seeks $525,000 
— down from $700,000 — and drops 
a defamation claim against Mr. Clin- 
ton’s co-defendant. Danny Ferguson, 
an Arkansas state trooper who helped 
guard the former governor. (AP) 

Quote /Unquote 

Mr. McCurry, saying that Mr. Clin- 
ton is getting a Labrador retriever that 
will move into the White House after 
being housebroken: “I think he had a. 
dose encounter with the puppy and 
enjoyed the puppy and a bond oc- 
curred." (AP) 


U.S. Pledges $500 Million for Atoi 


tasher Near Geneva 


By Curt Suplee 

Washington Post Service 

WASHINGTON — In an 
unprecedented act of interna- 
tional scientific' collabora- 
tion, the United States has 
pledged to provide more than 
$500 milli on in high-tech 
components and services for 
construction of a state-of-the- 
art atom-smasher near 
Geneva. 

“For the first time, the U.S. 
government has agreed to 
contribute significantly to 
construction of an accelerator 
outside our borders,” Energy 
Secretary Federico Pena said 
at a ceremony formalizing the 
agreement. “We have con- 
cluded that this is the most 
cost-beneficial way for the 
United States to participate” 
in expensive experiments at 
the forefront of high-energy 
physics. 

“It sets an excellent pre- 
cedent,” said Christopher 
Llewellyn Smith, general di- 
rector of tire European Lab- 
oratory for Particle Physics, 
which will build die facility. 
Not only is tbe cost of such 
projects increasingly “be- 
yond tbe means of most coun- 
tries,’ ’ Mr. Smith said, but the 
physical location of the center 
is “increasingly irrelevant” 

The Large Hadron Col- 
lider, planned for completion 


in 2005 at an estimated cost of 
S 6 billion, is designed to be 
the world's most powerful ac- 
celerator, generating about 
seven times more .collision 
energy than the record-hold- 
er, the Tevatron at the Fermi 
National Accelerator Labora- 
tory near Chicago. Those en- 
ergy levels are expected to 
create conditions that will en- 
able researchers to “uncover 
and unravel the deepest 
secrets of the physical uni- 
verse,” said Neal Lane, di- 
rector of the National Science 
Foundation, including the 
profoundly vexing question 
of what process in nature 
causes particles to acquire 
mass. 

Other objectives include 
trying to understand the 
“dark matter” that makes up 
at least 90 percent of the mass 
of the cosmos but has never 
been seen, investigating why 


there is so little antimatter in 
today’s universe and studying 
how the four fundamental 
forces of nature might be uni- 
fied. 

The Large Hadron Collider 
was conceived years ago tty 
tbe European Laboratory for 
Particle Physics, which is 
supported by a consortium of 
19 European countries. IF.S. 
interest in the project spiked 
in 1993 after Congress killed 
funding for a domestic next- 
generation accelerator, tbe 
planned Superconducting Su- 
per Collider under construc- 
tion in Texas. The United 
States' had conducted an ur- 
gent search for international 
partners as domestic support 
waned far the project — the 
cost of which threatened to 
exceed $10 billion — with 
only modest success. 

Suddenly America found 
itself faced with the prospect 


of becoming an international 
partner in die Hadron collab- 
oration (which also includes 
Russia, India, CsmnAn and Ja- 
pan, among others) or pos- 
sibly losing the chance for 
important participation in 
cutting-edge science as well 
as the ability “to train the 
next generation of physi- 
cists,” as John Gibbons, as- 
sistant to the president for sci- 
ence and technology, noted. 

It took four years of com- 
plicated negotiations to 
define an appropriate role for 
die United States and to iron 
out such difficult questions as 
whether the United States 
would have to pay more if the 
project experienced overruns. 
Now “our .contribution is 
fixed” at $531 million, Mr. 
Pena said. 

Under the terms of the new 
agreement, the Department of 
Energy will provide $200 


million in equipment and ma- 
terials for Hadron, which is 
being constructed in an ex- 
isting tunnel that crosses the 
Swiss-French border. About 
half of those goods and ser- 
vices will come from three of 
the Department of Energy’s 
labs — Broolchaven in New 
York, Lawrence Berkeley in 
California and Fermiiab in 
Illino is — and half from 
American industrial compa- 
nies. 

Die Department of Energy 
also will contribute approx- 
imately $250 million in com- 
ponents for the facility’s two 
giant detectors, five-story-tall 
instruments that record the re- 
sults of the particle collisions. 
The science foundation will 
provide an additional $81 
million in in-kind contribu- 


tions. Some 550 U.S. scien 
tists are working at those de 
lectors, about 20 percent of 
the total number. 

“For about 10 percent of 
the total cost,’ ’ Mr. Pena said 
Monday, the arrangement 
will “enable about 25 percent 
of the U.S. high-energy ex- 
perimental physics commu- 
nity to take advantage” of 
Hadron’s resources. 

For its part, Mr. Smith said, 
the Geneva organization not 
only got extensive access to 
U.S. expertise, but enough of 
a financial conrniitment to 
“allow construction of much 
better experiments than 
would otherwise be possible’ ' 
and to complete Hadron ’three 
years earlier than would have 
been possible without those 
contributions.” 




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The Spirit Of 
Christmas 




PAGE 4 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 10, 1997 


ASIA/PACIFIC 


China Chides U.S. Over Nuclear Targeting and Dissident 


Ar Or Skiff Frum Dofrsrkn 

BEIJING — Beijing on Tuesday 
assailed Washington's policy of nu- 
clear deterrence following reports 
that new U.S. guidelines increase the 
number of missiles targeting Chino. 

“China always stands for a com- 
plete prohibition and total destruc- 
tion of nuclear weapons." the For- 
eign Ministry spokesman, Tang 
Guoqiang. said. 

“The U.S. has a large arsenal of 
nuclear weapons. It stubbornly 
sticks to its policy of nuciear de- 
terrence," he said. "This policy 
cannot serve world peace and sta- 
bility." 

Mr. Tang also criticized President 
Bill Clinton’s meeting with the dis- 
sident Wei Jingsheng at the White 
House. 

“This act of the U.S. side is 
totally wrong,' ' he said of die meet- 
ing Monday. 

■ “The Chinese side expresses its 
strong indignation and firm oppo- 
sition to the meeting," Mr. Tang 
said. 

The 35-minute talks look place 
three weeks after Mr. Wei, 47, was 
released from a Chinese jail on med- 


ical parole and forced into exile in 
the united States. 

The Washington Post and The 
New York Times said in weekend 
reports that the United States would 
adopt new secret guidelines that 
would redirect U.S. nuclear 
weapons to target rogue states such 
as Libya, Iran, Iraq and Syria. 

According to the Post, the lan- 
guage of the new guidelines would 
also allow strategic planners to de- 
velop a broader list of targets in 
China. 

The Foreign Ministry spokesman 
said he was unaware of the devel- 
opment, but he lambasted the long- 
standing U.S. policy of using nu- 
clear rxught to deter other countries 
from attempting a nuclear attack. 

“We urge in the strongest terms 
that the U.S. end this policy," Mr. 
Tang said. 

China was removed from U.S. 
strategic war plans in the mid-1980s 
when Washington and Beijing were 
normalizing relations, said Bruce 
Blair, an arms control expert at the 
Brooking Institution. 

‘There are hundreds of targets in 
China that remain in the war plan- 


ners’ portfolio, but we took them out 
of the plan in the early '80s," Mr. 
Blair said of Washington's policy. 

"Currently we’re not in a po- 
sition to press the button and attack 
China, " he said. "It would take 
some effort to reprogram forces in 
the field to attack China." 

Meanwhile, Mr. Wei described 
bis meeting with Mr. Clinton and 
said that be had warned the president 
not to be “deceived" by Beijing. 

"I told him about some of my 
experiences in dealing with the 
Chinese Communists," Mr. Wei 
said, “and I expressed the hope that 
in dealing with the Chinese Com- 
munists. the United States would not 
be deceived. My personal feeling is 
that President Clinton is not 
someone who is easily deceived." 

When dealing with the Beijing 
government, Mr. Wei said he told 
Mr. Clinton, "do not pay before the 
goods are delivered.” 

“In die West, you go by cred- 
ibility, by the rule of law, by rules and 
regulation," Mr. Wei said, speaking 
through an interpreter. “That is nev- 
er die case with the Chinese* Com- 
munists. They can make any prom- 



1. S'-nU ApfrfnJux^Tli.' Mint PWw 

Wei Jingsheng in Washington. 

ises, and they can go back on any 
promises. It is litre a sports match, 
where one side must obey all the 
rules and the other side doesn’t have 
to. It isn't a very fair game." 

But at die news briering in Beijing, 
Mr. Tang said: “Wei Jingsheng is a 
criminal who attempted to overthrow 


die Chinese government and ear 
danger the state. Whatever he says to 
attack the Chinese government and 
die Chinese people is no surprise and 
is not worth rebutting. 

"We arc opposed to U.S. officials 
meeting Wei Jingsheng, opposed to 
foe making asc of Wei Jingsheng for 
anti-Chinese activities. The U.S. 
government clearly knows the 
Chinese government's position." 

Mr. Wei, who favors greater in- 
ternational pressure on Beijing to 
advance human rights and democ- 
racy, said he and Mr. Clinton had 
vowed to maintain “close contact" 

In an apparent effort to limit pos- 
sible harm to improving Chinese- 
American ties, the White House did 
not immediately put out its own 
account of the session. 

Instead of inviting the press to 
take pictures of the meeting, pres- 
idential aides released a snapshot of 
their own. 

The meeting took place outside 
the Oval Office, Mr. WeL's asso- 
ciates said, addin g that Mr. Clinton 
was accompanied at the session by 
Samuel Berger, his national security 
adviser. (AFP, Reuters. NYT) 



44 Years After the Truce , Korean Peace Talks Open in Geneva 


Ct*pi&\l hour Stiff FnntPufVBim 

GENEVA — More than 44 
years after the fighting 
stopped, foe United States 
and the three other main com- 
batants in the Korean War 
opened talks Tuesday to re- 
place the truce agreement 
with a peace treaty. 

■ Establishing a foil, formal 
peace on the Korean Penin- 
sula would play a major role 
in bringing world stability, 
the host Swiss government 
said in welcoming the North 
and South Korean, Chinese 
and U.S. delegations. 

“We hope this process will 
result in the progressive in- 
troduction of confidence- 
building measures on foe 
Korean Peninsula, with the 
ultimate aim of ending the ‘no 
war-no peace* situation 
which has prevailed since the 
signing of foe armistice in 
1953," said Jakob Kellenber- 
ger, the Swiss state secre- 
tary. 

No one is expecting foe 
parties to rush to a treaty, and 


some analysts are predicting 
that the talks will last for years. 
But North Korea's agreement 
last month to join the talks to 
replace foe armistice was seen 
as a breakthrough. 

The Koreans sat at long, 
white tables opposite each 
other in the headquarters of 
the European Free Trade As- 
sociation. 

The United States and 
China were at tables on the 
other two sides of foe 
square. 

Tong Jiaxuan, Chinese 
deputy foreign minister, 
urged North and South Korea 
gradually to improve rela- 
tions and build trust, but he 
said, that better U.S.-North 
Korean relations also were es- 
sential 

“The ship of foe four-party 
talks has now set sail," Mr. 
Tang said. “We know for 
sure that foe future course will 
still be long and difficult 
Nevertheless, we ■ have 
already struck a good begin- 
ning.” 


The head of the South 
Korean delegation, Seoul's 
ambassador to France, Lee 
See Young, sai± “South 
Korea will show the maxi- 
mum flexibility to bring the 
talks to a successful end." 

The Korean War began 
when more than 60,000 North 
Korean troops, armed by the 
Soviet Union, invaded foe 
South on July 25, 1950. 

U.S. troops were ordered in 
two days later as part of a UN 
force, which advanced across 
North Korea in foe coming 
months until the Chinese 
drove them back. 

The ultimate goal of the 
talks is the peaceful reuni- 
fication of the two countries, 
which have been divided 
since foe end of World War it 
but each of the parties is al- 
lowed to bring its special con- 
cerns to the talks. 

The United States, for ex- 
ample, has been pressing foe 
Nonh Koreans for more in- 
formation on more than 8,000 
American servicemen still 


missing in action in the war. 

U.S. officials have said 
they particularly want to see 
whether they can learn any- 
thing about the MIAs by 
questioning four American 
soldiers who deserted their 
units in South Korea in the 
1960s and are believed to be 
living in North Korea. 

North Korea has rebuffed 
past U.S. requests for the in- 
terviews, but it has returned 
the remains of 209 American 
MIAs. 

As part of foe low-key ap- 
proach, none of the sides for- 
mally briefed reporters before 
the talks. But foe lack of any 
meetings scheduled beyond 
the first two days indicated 
foe first talks concerned when 
the parties would meet 

a gain. 

The agenda • is loose 
enough to allow each side to 
present its concerns, officials 
have said. 

The United States and 
China will serve as mediators, 
and each of foe four dele- 


gations will take turns leading 
foe talks. 

At the helm of foe first, 
two-day session was Stanley 
Roth, U.S. assistant secretary 
of state for East Asian af- 
fairs. 

The talks became .possible 
last month when foe North 
Koreans dropped their insist- 
ence cm a U.S. troop with- 
drawal from South Korea as 
an agenda item for foe ne- 
gotiations. 

Although it is not on 'the 
agenda. Pyongyang is none- 
theless expected to. raise the 
issue. 

South Korea and the 
United States likewise are 
concerned about long-range 
North Korean missiles and 
suspected chemical and bio- 
logical weapons. 

A U.S. official briefing re- 
porters in Washington said 
that China, one of Pyong- 
yang's few close friends, at 
first seemed wary about the 
proposal for foe talks but has 
been more supportive lately, 


seeing them as a force for 
stability in northeast Asia. 

As foe talks opened, 
rancorous words were still 
being .exchanged between 
Pyongyang ano Seoul 

South Korea’s Agency for 
National Security Planning 
asserted Tuesday that two 
high school students missing 
since 1977 had been abducted 
tty foe North and were alive in 
Pyongyang. The two were 
helping to train North Korean 
spies being sent south, it 
said. 

The official North Korean 
press agency. KCNA, as- 
sailed a decision by Seoul to 
allow South Koreans who are 
building two nuclear reactors 
in the North to vote tty ab- 
sentee ballot in upcoming 
presidential elections. 

Earlier Tuesday, in a com- 
mentary earned by KCNA, 
Pyongyang said that peace 
could never be ensured 
while 37,000 American 
troops remained in South 
Korea. (AP, Reuters) 


to eSabTishTpand to screen about 100,000 refogoM 
along their common border to determine w heth er fooy 
were fleeing persecution or merely seelring woik 

Foreign Minister Sunn Pitsuwan ana n» Burmese 
counterpart, Ohn Gyaw, decided » form a subcommittee 
acting under * commission foe countries created to dis- 
cuss disputes in relations, .which are often prickly along 

^Wti^Su^wtimated that Thailand was sheltering 
98,000 people along the nigged border with Bisrma/Most 
have fled decades of fighting between the Burmese Anny 
and ethnic rebels. _ , - 

* The UN High Commissioner for Refugees savs mat no 
one who has fled for noneconomic reasons should be sent 

back as long as a risk of persecution exists. 

On several occasions this year, foe Thai Army, which 
polices the frontier, forced people back into Burma as 
long as there was no fighting in foe immediate area, 
drawing international protests. (AP) 

Fatal Fire Puzzles Jakar ta Police 

JAKARTA — After questioning 17 people Tuesday, 
the police were unable to learn foe cause of a fire that 
killed 15 people in a new office tower. 

The chief of foe Central Jakarta Police, Lieutenant 
Colonel Iman Haryatna. said none of the 17 , who i ncluded 
witnesses apd workers of the construction company, were 
detained. ... 

Fire fighters were conducting a separate investigation to 
find out whether sparks from a welding torch started the 
blaze Monday in foe office block mi Jakarta’s main street. 

Earlie r speculation was that the fire, which gutted the 
three top floors of the 25-story Bank Indonesia tower, 
might have been caused by an electrical fault (AP ) 

Chinese Workers Protest Layoffs 

BEIJING — About 400 laid-off textile workers in 
Hefei, capital of the central province of Anhui, staged a 
demonstration to demand new jobs, a local official said 

Workers from the Anhui No. 1 and No. 2 Textile Plants 
had staged a sit-in Monday outside provincial govern- 
ment offices to protest the loss of their jobs because of a 
merger of foe two plants, a Hefei city official said by 
telephone. 

The protest was foe latest incident of labor unrest amid 
China’s plan to streamline state-run industries. 

The demonstrators had peacefully dispersed after gov- 
ernment officials met with workers and pledged to help find 
a solution to their problem, the official said. (Reuters) 

For the Record 

At least four Sri Lankans were.ldUed and 28 were- 
wounded when suspected Tamil Tiger rebels lobbed a 
grenade into a crowded public market in the eastern city 
of Batticaloa on Tuesday, the police said. They said the 
dead were ail civilians. ( Reuters ) 



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PAGE 3 


INTERNATIONAL 


CUMAXE: 2 Compromises on Global Warming Are UnderStudy 


Continued from Page 1 


conference chairman, offered a proposal 
that called for varying emissions cuts, 
including 8 percent for European coun- 
^ on? 5 P crcent iOT to United States. 

As the agents of compromise worked 
into the night to find acceptable middle 
ground, advocates on both sides of the 
global warming issue complained that 
the new proposals were either too tough 
or loo weak. 

“This is totally immoral and the 
people who negotiated it should be 
ashamed of themselves,” said Tony Ju- 
niper of Friends of the Earth, referring to 
both proposals. 

On the other side, the criticism was 
just as sharp. “This is nor a good thing 
for the United States; it will cost even 
more jobs and do more economic 
harm, said Constance Holmes, who 
will soon take over as chairman of the 
Global Climate Coalition, a group of 
U.S. industries that has spent millions of 
dollars to prevent a legally binding t rea ty 
on global wanning. 

Emotions in rite Kyoto conference 
hall were high as weary, frustrated del- 
egates entered the final phase of a 10-day 
meeting that has not recorded break- 
throughs. 

“These discussions have yielded 
some progress, but we still have far to 
go,” said Stuart Eizenstat, undersec- 
retary of state and head of the U.S. 
delegation. “And we do not sense the 


urgency on the part of many countries 
that is necessary, given the lateness of 
the hour.” 

Mr. Eizenstat unveiled T uesday a pro- 
posal to establish an “umbrella group” 


Washington’s views on flexibility and 
rket-based 


of developed countries outside Western 
i. He said 


Europe. . Re said that the alliance — 
which would include the United States, 
Canada, Australia and Russia among 
others — would collaborate on a strategy 
for meeting their obligations to cut 
greenhouse gases. The 15 members of 
the European Union have a similar ar- 
rangement. 

The umbrella group would set up an 
emission trading system among its 
members, so that countries that exceed 
their pollution limits could purchase 
“credits” from countries that pollute 
less. The major supplier of credits would 
probably be Russia, which is polluting 
far less than it did in 1 990 because many 
of its Soviet-era factories are now 
closed 

Environmentalists generally opposed 
the plan, fearing that it would allow rich 
countries to buy their way into com- 
pliance rather than enforce unpopular 
emissions cuts. 

The plan unveiled by the chairman, 
Mr. Estrada, was at least a partial victory 
for the U.S. side since it contained a 
number of proposals favored by the 
White House. Although its targets and 
timetables for cutting pollution were 
more ambitious than the Americans ini- 
tially wanted, it incorporated many of 


market-based mechanisms designed to 
ease the pain for businesses and con- 
sumers. 

Most developed countries, including 
the United States, would end up cutting 
greenhouse gas emissions by 5 percent 
below 1990 levels by 2010. While the 
Clinton administration sought to stabil- 
ize emissions at 1990 fevelsby 2012, the 
Europeans favored a 15 percent reduc- 
tion below 1990 levels by 2015. 

Mr. Estrada's plan called for Euro- 
pean countries to take on slightly tough- 
er targets, while a few other countries 
would be allowed to increase emissions, 
reflecting special economic circum- 
stances. 

Many issues remained in flux. includ- 
ing the critical question of how or whether 
developing countries would be asked to 
participate in a global climate treat)'. Mr. 
Estrada's plan also did not include pro- 
visions for penalties for countries that fail 
to comply. 

The sokes at the conference are high. 
Environmentalists say global wanning 
threatens to damage the Earth's climate 
irrevocably, causing flooding, severe 
storms, increases in temperature and 
rising sea levels that could wipe out 
countries. 

Industry representatives, and their al- 
lies in the U.S. Congress, say that there is 
no scientific proof that global wanning 
exists, despite a consensus that it does 
that was reached by a UN panel of 2,500 



K-OREA; A Request for Pledged Funds 


Continued from Page 1 


So .unit KiJuMTit ..,uk .1 ft 


Raul Estrada-Oyuela. chairman of 
the conference on climate change, 
offering his compromise Tuesday. 


scientists. These foes of a treat)’ say that 
cuts in emissions of greenhouse gases 
would devastate the global economy and 
cause huge increases in energy costs and 
in job losses. 

Mr. Eizenstat. echoing what Vice 
President AI Gore said during his one- 
day visit to Kyoto on Monday, called for 
“meaningful participation by key de- 
veloping countries.” 

Bui whether the 1 30-plus developing 
nations participate and what shape that 
participation might lake arc still up in the 


air. 


tempt to make the contribution more 
politically palatable in ihe United States, 
saiu there was a chance that the Amer- 
ican money w ould never be needed. 

Mr. Lim. who holds the title of deputy 
prime minister, said he had not asked 
Washington or Tokyo directly vet to 
speed up their contributions, and he did 
not say how much money he wanted. 

The" IMF has already given South 
Korea S5.5 billion, with another $3.5 
billion due this month and $2 billion in 
January. The Asian Development Bank 
will give $2 billion this month, and the 
World Bunk :< expected to chip in its first 
$2 billion. The money, which was 
pledged io reassure foreign investors and 
give Seoul the means to defend the won. 
is giver, in ?-; 2 ges. io ensure that South 
Korea carries out reforms. 

One of Mr. Lim's runtimes for making 
the request public in an interview could 
be political" — a desire to sec Wush- 
ingtiei and Tokyo actually contribute 
money, “if not. they are just servicing 
by words.” he said. 

Mr. Lim. who became finance min- 
ister Nov. 19 and led Seoul's nego- 
tiations with the IhTF. said that Wash- 
ington helped formulaic the rescue plan, 
which requires South Korea to vastly 
reform its financial structure and open its 
markets. Thai has bred resentment here 
against the United States and Japan. 

"The\ are advising on policies and 


nol really putting their money in at all.” 
he said. “What will ihe Korean public's 
response be? You can imagine.” 

said 


the United 


espon: 

Mr. Lint. 53. also 
Slates and Japan should contribute be- 
cause the falling won was making South . 
Korean products more competitive 
against Japanese and American ones. 

The minister spoke as the currency 
plunged by its maximum allowable If) 
percent against the dollar Tuesday. The 
dollar finished for the second straight 
day at a record high, at 1.460 won 
against 1 342.50 won on Monday. The 
benchmark stock index plummeted 6.47 
percent, to 388.00 points. And interest 
rales on three-year corporate bonds, 
surged to 24.M5 percent, just under the 
legal limit of 25 percent. 

“In a sense, the market is telling the • 
government that the conditions ihe IMF 
originally sei arc not enough." said 
Richard Samuelsuii. head of research tor 
SBC Warburg Dillon Read in Seoul. 

Mr. Lim said that many of the reforms 
ordered by the IMF were good tor South 
Korea. But he suggested that the IMF was 
insisting on slowing economic growth to 
about 3~percent next > ear — half iLs level 
this year — without good cause. 

“Is there ail) logic to insist on low . 
growth rale jnd high unemployment?" 
he asked. "Growth rate should not be a , 
target by itself. ;ui inflexible target." 

Despite the pain next year, however, 
he predicted the nation would be back to 
5.6 percent growth in 1999. 


JAPAN; Nerves Are Frayed 


Continued from Page I 


things are pretty depressed — 
the sentiment is downbeat,” 
be said. “The financial sec- 
tor’s woes have had a pro- 
found impact on spending 
patterns.” 

New-car registrations are 
off nearly 25 percent, meaning 
that millions of people are 
holding onto old cars rather 
than replacing them — the 
worst news in 15 years for the 
mighty Japanese car industry. 

The housing industry is 
similarly down bean Housing 
starts have declined for 10 
consecutive months; October 
was 25 percent worse than tire 
year before. Department 
stores, supermarkets, restaur- 
ants. bars and small busi- 
nesses are all reporting de- 
creased sales. 

Kiichi Miyazawa. a former 
prime minister and a key fig- 
ure involved in the govern- 
ment plan to reshape the 
economy, said in an interview 
Monday that spirits were low 
in the country. 

“There. is a feeling of aim- 
lessiiess "and soul-search- 
ing,” he said, as Japan sets off 
on a new economic course for 
the next century. But he ad- 
ded that the Japanese spirit of 
competitiveness would re- 


AIRBUS: 

A Call to Arms 


Continued from Page 1 


build a replacement for the 
747, saying it has not found a 
market for such a plane. 

Although Europe has suc- 
cessfully 'integrated civilian 
aircraft manufacturing, its de- 
fense industries remain frag- 
mented and ill-prepared to 
compete against the Americ- 
an giants in a market that has 
shrunk after the collapse of 
communism and the scaling 
back of military spending. 

The attempt by the Euro- 
pean Union to forge a com- 
mon foreign and defense 
policy has emphasized the 
need to create more efficient 
and competitive defense in- 
dustries. analysts said. 

European ’ commercial 
rivalries are breaking down 
under the pressure of eco- 
nomic integration, which is 
expected to lead in litde more 
rhan a year to the adoption of 
a single currency by a ma- 
jority of the members of the 
15-natiun EU. 

Although there has been in- 
creasing cooperation among 
individual countries. Europe 
still has two competing mod- 
em jet fighters, the French Ra- 
fale and ihe projected Britxsh- 
Germian- Italian Eurofighter, 
while Saab also produces a 
multirolc combat plane. 

The United Stales, mean- 
while, is moving toward a 
single fighter early in the next 
century for all its armed 
force*. Defense experts argue 
that without a strong £°° r “ 
dinated program, the Euro- 
pean companies could end up 
as subcontractors to Boeing 
Co., Lockheed Martin Corp. 
aud Hughes Raytheon. That 
could lead to American dom- 
ination of the European de- 
fense industry and intensify 
the U.S. challenge to Airbus. 
The European companies 
:ivc hecun to consolidate. 


have begun to consol 
but only in narrow areas. 
Aerospatiale and Daimler- 
Benz merged their helicopter 
activities to create Euro- 
coptcr, while Mutra ot France 
and BAc created a joint mis- 
sile company called Matra 
BAc Dynamics. Meanwhile, 
France is seeking to form al- 
liances based on the restruc- 
turing of its defense electron- 
ics company. Thomson-CSr. 


emerge stronger than before. 

For years, America has 
been pushing Japan to stop 
propping up financial insti- 
tutions and to let the free mar- 
ket prevail. But when Tokyo 
did that in November, allow- 
ing several large bankruptcies 
— on the heels of financial 
crises in South Korea. Thai- 
land and Malaysia — the 
world markets panicked. 

The immediate message 
from around the world is 
clear. The Japanese govern- 
ment must intervene and sta- 
bilize the markets before it 
hurts Wall Street and the rest 
of tite world. 

“If the boat is sinking, you 
plug the bole and worry about 
how to make the boat better 
later.” said Mr. Jones of Leh- 
man Brothers. 

As Japan sorts out its eco- 
nomic chaos, the dark mood 
prevails. In dozens of inter- 
views with people in Tokyo 
oyer the past several days, 
there was nearly unanimous 
agreement that there would be 
personal cost to the turmoil. 

College students fretted 
about where to apply fora job, 
“What if they go bankrupt?" 
asked Manabu Suzuki, 22, a 
graduating Nihon University 
student Housewives 

wondered what life would be 
like if their hnsbands were laid 
off. “What would I do with 
him home? My whole routine 
would change.” one said. 

Masahito Yazawa, 51, one 
of 200 employees of a com- 
pany that specializes in wom- 
en’s necklaces, worried that 
people would stop buying 
luxuries. “We already feel 
the economy is hitting our 
business,” he said. As a re- 
sult. year-end bonuses at his 
company, which are often 
$10,000 or more, have been 
cut back by as much as 40 
percent 

The economy is believed 
partly responsible far the de- 
clining enrollment in jiifcn, Ja- 
pan’s famed and expensive 
“cram schools.” which chil- 
dren attend after school and 
on weekends for extra stud- 
ies. The juku have always 
helped children get into top 
schools, which then virtually 
guaranteed that they would be 
hired by top firms and em- 
ployed for life. 

But lifetime employment is 
□o longer a guarantee, as 
72500 people found out when 
Yamaichi Securities shut 
down last month. 

Some analysts say the pub- 
lic’s perception is worse than 
the reality. Japan is solid ip 
important ways that set it 
a pan from other ailing Asian 
nations. It is the second- 
richest country in the world, 
with a stockpile of savings. It 
remains the word's largest 
creditor nation with more 
than $225 billion in foreign 
currency reserves, and it is 
home to Toyota and Sony and 
competitive manufacturing 
giants. . , 

Pan of the malaise is due to 
the sense that Japan has 
suffered an enormous come- 
down from 1990. In those 
days. Japanese millionaires 
were still setting spending re- 
cords buying Van Goghs and 
Renoirs, the best French wine 
and marquee U.S. real estate. 

It docs not seem to matter 
to the national psyche thata 
significant number of the 
15,000 people who have re- 
cently lost their jobs in the 
financial sector have new job 
offers or good prospects. 
People seem to focus only on 
the fact that the atmosphere 
now is full of uncertainty. 

“Every day 1 watch to see 
how my bank is faring.” said 
Teniyasu Takehisa, 57. a taxi 
driver. ’ ’ My conviction is that 
no bank is safe. I am won- 
dering if my closet is the best 
place for my money. 



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PAGE 6 


Bransons Balloon 
Leaves Without Him 

Reuters 

MARRAKESH, Morocco — A giant 
.balloon owned by the businessman 
Richard Branson broke its moorings and 
ibiew away Tuesday as technicians were 
■inflating i't with helium at a air base here 
tor a round-the-world attempt 

‘ 'The project is over.' ' said a spokes- 
man for the British tycoon. “I have just 
.told Branson of the incident. Nobody 
•was hurt,” but he declined to give fur- 
ther details. 

■ _ Shortly afterward. Mr. Branson, in 
;his green pilot's suit, arrived at the air 
•base with his children Holly. 16, and 
;Sam. 12. They had come to Morocco to 
"watch the launch. 

“I am sorry for everybody,” Mr. 

; Branson said briefly, adding that die 
Moroccan gendarmerie were trying to 
recover the balloon and that he would 
•decide what to do later. 

; The 32.000 cubic meter (1.1 million 
cubic feet) white balloon broke free in 
•mid-morning, soaring into the sunny sky 
jover the ancient city of Marrakesh, and 
■headed toward the Atlas Mountains. 

There was no immediate explanation 
■for why the balloon escaped, although 
one technician was said. “The wind 
"turned it round and it suddenly broke 
free.” 


W *v,.. 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 10, 1997 


INTERNATIONAL 


Balloonists 9 Last Challenge: Nonstop World Tour 


Tim CXkcmlaVnK Arodded Peas 

Richard Branson waving good-bye 
as his balloon drifted away after 
tearing loose from its moorings. 


By Malcolm W. Browne 

New York Tunes Sen-ice 

NEW YORK — Hoping to become 
the first balloonists to circle the world 
nonstop and win a $ 1 million prize, four 
teams of aeronauts are fine-tuning their 
complex balloons for a dangerous 
race. 

A fifth team was eliminated Tuesday 
— before the race even began — when 
its balloon broke its moorings. 

The 1997-98 circumglobal balloon 
race could start this week if the weather 
is favorable; if not, crews will wait 
anxiously at their launching sites on 
three continents for clearance by their 
meteorology teams, which could take 
days or months. Contenders must make 
their attempts between mid-December 
and the end of February to take ad- 
vantage of eastward wind streams that 
can carry them around the world at 
speeds of up to 200 miles <‘320 ki- 
lometers) an hour. 

Last month, Anheuser-Busch, the 
beer company, announced that it would 
award a cup and $500,000 to the first 
balloon team to circle the earth nonstop, 
and would present another $500,000 to a 
charity of the winning team’s choice. 
This is the first time any award has been 


offered for a round-the-world balloon 
flight. 

Although balloonists have made 
many attempts to circle the world, none 
has ever come close to success, and 
some have been killed. But balloon 
technolog}' has advanced so rapidly in 
recent years that the forthcoming at- 
tempts are regarded by the participants 
as a real race in which more than one 
balloon might finish the course. They 
will compete not merely for the mon- 
etary prize (which is fairly small, com- 
pared with the cost of the balloons) but 
to reach the last great unachieved goal 
of lighter-than-air flight. 

Rival crews, despite their friendship 
with each other, have become some- 
what secretive about their planned 
routes, departure dates, overflight clear- 
ances from potentially hostile govern- 
ments, technical improvements and oth- 
er competitive details. 

“This time there’s a real chance 
someone will make the global circuit,” 
said Donald Cameron, whose British 
company, Cameron Balloons Ltd., built 
four of the five balloons in this year's 
competition. “Naturally, everyone's 
looking for any competitive edge they 
can find over the rest of the field.” 

The International Aeronautical Fed- 


eration has issued a detailed set of cri- 
teria for circumglobal flights. No bal- 
loon may land during its flight. Each 
balloon must reach or go beyond me 
longitude from which it took off, and n 
must travel a distance equal to two-thirds 
of the earth’s equatorial circumference. 
This means that each balloon must stay 
within a zone extending from the equator 
to about 40 degrees north latitude. 

The balloons built by Cameron and 
its major competitor, Lindstrand Bal- 
loons Ltd., are similar in overall design. 
All five are known as Roziers, named 
for the French balloonist Jean Francois 
Pilatre de Rozief, the inventor of the 
type. On Nov. 21, 1783. de Rozier be- 
came one ofthc first two human beings 
to fly, but two years later a balloon he 
invented, a hybrid depending on both 
hydrogen and hot air for lift, burst into 
flames and crashed. De Rozier thus be- 
came the first person to be killed in a 
flying accident. 

Despite his unlucky career, de Rog- 
er’s hybrid balloon design is now used 
by all would-be trans global balloonists. 
The upper cell of each of these balloons 
is filled with noninflainmabic helium to 
provide most of the needed lift. An 
inverted cone fitted beneath the helium 
cell is filled with air heated by propane, 


ethane or kerosene burners to provide 
additional lift. 

A simple gas balloon, lacking sup- 

f ilementary lift from heated air, is more 
imited in duration. 

During daylight hours a simple gas 
balloon is warmed by the sun, and its gas 
expands, causing the balloon to rise. If it 
rises too high the expanding gas may 
exceed the balloon’s volume, forcing 
the crew to release some of it. But at 
night the cool air chills the gas. reducing 
the balloon’s lift and forcing it to de- 
scend. To halt the descent a pilot most 
drop ballast, and when the ballast is 
exhausted, the flight must end. 

But a Rozier balloon requires little or 
no ballast. Instead of dropping weights 
when the balloon descends in the even- 
ing, the pilot can light his burners and 
obtain the needed lift from hot air. 

Some of this year’s Rozier balloons 
arc equipped with tents designed to 
shield the upper balloon surface from 
the sun. Such a tent, which gives a 
balloon a somewhat ungainly appear- 
ance, is supported from within by a 
small helium balloon that serves as a 
kind of tent pole. 

Some balloons are insulated by double 
layers of gas-proof fabric, but balloonists 
debate the utility of such features. 




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Albright Turns a New Leaf in Central Africa 


By Thomas W. Lippman 

Washington Post Service 

ADDIS ABABA. Ethiopia — Sec- 
retary of State Madeleine Albright 
began a seven-nation tour of Africa on 
Tuesday by acknowledging that the 
Clinton administration and other 
Western governments mishandled the 
Rwanda crisis of 1994 — a recog- 
nition that aides said was central to the 
new U.S. approach to Africa that she 
is presenting on this trip. 

The mass murders in Rwanda and 
other conflicts stretching across Central 
Africa from Uganda to Angola have 
convinced her that the huge country in 
the center of that region — Congo, 
formerly Zaire — holds the key to the 
continent’s future, senior officials said. 
The United Stales is prepared to work 
with and support the country’s new 
leader. Laurent Kabila, if he shows that 
he deserves it, they said. 

“Today we have a choice,” Mrs. 
Albright said here in a speech to the 
Organization of African Unity. “We 
can pursue shortsighted rivalries, seek 
short term gains and make only com- 
mitments of short duration. Or we can 
decide to move forward from the fail- 


ures and recriminations of the pasr 
and begin to forge pragmatic, endur- 
ing responses to the immense chal- 
lenges we face.” 

One way to “move forward,” she 
said, is to recognize responsibility for 
the catastrophes that nave plagued 
Africa in recent years. 

“Let me begin that process here 
today.” she said, “by acknowledging 
that we — the international commu- 
nity — should have been more active 
in the early stages of the atrocities in 
Rwanda in 1994 and called them what 
they were: genocide.” 

Hundreds of thousands of 
Rwandans died in the mass tribal vi- 
olence of 1994 while the outside 
world dithered about how to stop it 
and the United States avoided using 


the term “genocide,” lest it be re- 
quired to intervene under the terms of 
a treaty prohibiting genocide. 

Those failures, Mrs. Albright said, 
perpetuated the “culture of impunity 
that has claimed so many lives and 
done so much to discredit legitimate 
authority throughout the region.” 

In a conversation with a group of 
high school students, Mrs. Albright 
described a trip she made to Rwanda, 
Burundi, Angola and Liberia as U.S. 
ambassador to the United Nations as 
“the worst trip I have ever taken.” 

On that tour of brutalized societies 
and failed states, a senior official said, 
she realized that the chaos in Zaire 
was at least partly responsible for the 
misery plaguing those neighboring 
countries. Militias were based In 


Belgian to Take Command of Eurocorps 


Agence Francc-Press* 

STRASBOURG — Lieutenant 
General Leo van den Bosch of Bel- 
gium will take over Monday as com- 
mander of the Strasbourg-based Euro- 
corps, military officials said Tuesday. 


Mr. van den Bosch will succeed 
General Pierre Forterre of the French 
Army. The Eurocorps is a tactical 
military grouping of about 50,000 
troops from Belgium, France. Ger- 
many, Luxembourg and Spain. 


Zaire, weapons were coming through 
Zaire, the then-president, Mobutu 
Sese Seko. was providing money to 
rebels. The logical conclusion she 
came to, senior aides said, was that the 
key to stab ilizin g the region was in 
promoting democracy, building legit- 
imate law enforcement institutions 
and encouraging economic progress 
in what is now the Democratic Re- 
public of Congo. 

Mrs. Albright announced that 
Washington would provide $10 mil- 
lion to a World Bank fund for re- 
construction in Congo and would ask 
Congress for $30 milli on in fiscal 
1999 to “train court and police of- 
ficials, rebuild legal machinery where 
it has fallen into disrepair and assist 
programs that promote conciliation 
and healing after conflict.” 

Senior officials said Mr. Kabila, as 
an nnelected leader with a question- 
able commitment to democracy and 
human rights, has yet to show that he 
merits a place among the new African 
leaders to whom Washington is look- 
ing for leadership. Mrs. Albright will 
stress in Kinshasa later this week that 
Western aid and support will depend 
on his performance, they said. 


Cohen to Postpone 
Trip to the Muleast 

WASHINGTON — Defense Secretary 
William Cohen has decided to postpone a 
trip to Egypt, Jordan and Israel that had been 
scheduled to begin Saturday because of con- 
tinuing tension over UN arms inspections in 
Iraq, defense officials said Tuesday. 

The officials, who asked nor to be iden- 
tified, also suggested that Mr. Cohen 
needed time in Washington to prepare for 
decisions on any new NATO-led peace- 
keeping force in Bosnia-Herzegovina next 
June, and whether U.S. troops might take 
part in such a force. 

The Pentagon was expected to make an 
official announcement later of the second 
trip postponement by Mr. Cohen in a month 
over the Iraqi situation. On Nov. 10, he put 
off a 12-day visit to China and five other 
Asian states that had been scheduled to 
begin two days later. ( Reuters ) 

Saddam Appro ves 
Design for Mosque 

BAGHDAD — President Saddam Hus- 
sein has approved the design for what Iraq 
says will be the world's largest mosque, with 


a capacity for 30,000 worshippers. It will be 
named the “Saddam Grand Mosque.” 

Iraqi newspapers Tuesday printed a pic- 
ture of the Iraqi leader accompanied by 
several members of his cabinet examining 
the plans for the mosque in Baghdad. 

“This mosque consists of a large dome 
for the main area of prayer enough for 
30,000 worshipers decorated with four min- 
arets and an artificial lake,” said Ath 
Thawra, the newspaper of the ruling Baath 
party. (API 

El Nino May Be Ebbing 

LOS ANGELES — The warm Pacific 
Ocean water mass known as El Nino may be 
ebbing, according to a report Tuesday. 

New satellite data released by NASA's 
Jet Propulsion Laboratory shows the mass 
has shrunk by at least 10 percent, frilling to 
a level last observed in early September, the 
Los Angeles Times reported. (AP) 

For the Record 

The U.S. Food and Drug Adminis- 
tration has blocked imports of raspberries 
from Guatemala for 1 998 after outbreaks of 
food-borne illness were linked to the im- 
ported fruit during the past two sea- 
sons. (Renters 1 


Scientist Charged With Aiding China 

Taiwan-Born Physicist Admits to Passing Secrets About Laser Technology 


By Eric Lichtblau 

Los Angeles Times Service 

LOS ANGELES — A physicist with 
access to sensitive intelligence about 
U.S. nuclear weapons programs has 
pleaded guilty, in federal court to 
charges that he passed secrets to 
Chinese scientists during a 1985 visit to 
China and lied to a government agency 
about his foreign dealings after another 
visit this year. 

The motive for the physicist’s ac- 
tions. the authorities said they believed, 
was not money, but national loyalties. 

Peter Lee, 58, of Manhattan Beach, 
California, 1 ‘wanted to help the Chinese 
government and the Chinese scientists 
and to do something to advance what he 
considered to be a poorer. Less tech- 
nologically advanced scientific com- 
munity,” a law enforcement source 
said. 

The law enforcement official de- 
scribed Mr. Lee’s motives “as an em- 
pathy and a sympathy for that country 
based on his ancestry.” 

He added: “He seemed to be eager to 
help friends back there.” 

Mr. Lee. who was bom in Taiwan, 
remains free on bond and faces up to 15 
years in federal prison and a fine of 


$250,000. He will be sentenced Feb. 23 
before a U.S. District judge in Las 
Angeles. 

Mr. Lee's attorney did not return sev- 
eral calls, and a woman at his home 
refused to answer questions from a re- 
porter. 

In the mid-1980s. Mr. Lee, con- 
sidered an expert in laser energy, 
worked on U.S. government projects to 
study the use lasers to simulate nuclear 
detonations. . 

In January 1985, while an employee 
at the Los Alamos National Laboratory 
in New Mexico, he traveled to China, 
the authorities said. 

While there, the authorities said Mr. 
Lee admitted in court Monday, be met 
with Chinese scientists and gave them 
“detailed information” about laser 
technology that he knew to be classified 
at that time. 

Much of the material has since been 
declassified, prosecutors said. 

Mr. Lee traveled again to China in 
May and spoke with scientific groups 
about bis work as a physicist at TRW 
Space and Electronics Group in Man- 
hattan Beach. 

Bui after returning, he submitted false 
information on a security form, denying 
that he had discussed technical infor- 


mation with the Chinese, officials said. 

Chinese groups paid for Mr. Lee's 
travel expenses, but it did not appear 
“that he was getting any big stacks of 
money” for his technical advice, a 
source said. 

Assistant U.S. Attorney Jonathan 
Shapiro said Monday that ‘‘clearly law 
enforcement and the intelligence com- 
munity are extremely interested in con- 
ducting a thorough damage assess- 
ment” ro determine how the material 
may have been used by the Chinese. 

"This is a signUieant. tangible ex- 
ample of a top scientist violating his 
oath to protect the nation’s secrets," 
Mr. Shapiro said. “Even though it 
happened 1 2 years ago, it is and remains 
a serious crime.” 

State Department officials declined 
to comment Monday on the Lee case. 

Mr. Lee has been cooperating with 
the authorities, and he turned himself in 
to enter his guilty pleas Monday. 

Under an agreement with federal 
prosecutors, he was allowed to remain 
free after posting a $250,000 property 
bond and giving up his passport, of- 
ficials said. 

A spokesman for TRW said that the 
company would dismiss Mr. Lee and that 
it has been cooperating with the FBI. 



Delay Sought in Punishing Swiss Banks 

Jewish Leader Proposes March 31 Deadline for ‘Nazi Gold’ Settlement 


By John M. Goshko 

Washington Post Service 

NEW YORK — The president of the 
World Jewish Congress has asked city 
and state financial officers in the United 
States to postpone any punitive mea- 
sures against Swiss banks until March 
31 while an effort is made to negotiate a 
comprehensive settlement of billions of 
dollars in claims against the banks from 
Holocaust survivors and their heirs. 

The appeal by Edgar Bronfman, who 
has been designated by the Israeli gov- 
ernment to lead negotiations with the 
Swiss banks, was made at a conference 
of financial officials organized by the 
New York City comptroller. Alan 
HevesL 

About 200 officials attended the con- 
ference Monday, many from local or 
state governments that have considered 
withdrawing public funds from Swiss 
banks or taking other action to protest 
the banks' policies toward Germany 
during World War JL 

American Jewish organizations and 
politicians have engaged in a Long cam- 
paign to prod the Swiss into atoning for 
their aid to Nazi Germany and to help 
Holocaust victims and heirs recover as- 
sets held by Swiss banks since the war. 


•• In. July and October, the biggest 
Swiss banks abandoned decades of 
secrecy and made public the names on 
some 5,500 dormant accounts that col- 
lectively are worth about $47 million. 

But many survivors and their sup- 
porters contend that this is only a sliver 
of the amount involved, and about 
1 8,000 plaintiffs are seeking $20 billion 
from the three biggest Swiss banks in a 
class-action suil pending in U.S. District 
Court in Brooklyn. 

Although there was no attempt Mon- 
day to seek commitments from city and 
state officials that they would not take 
action against the Swiss banks, most 
officials indicated that they would com- 
ply with the moratorium request 

The officials cited their sense that the 
Swiss banks may not be able to resist 
much longer the diplomatic, economic, 
legal and moral pressure for them to 
settle. 

Mr. Hevesi has hinted that failure to 
get action in the compensation effort 
could compel New York City to use its 
sizable holdings in Switzerland as lever- 
age against the banks. 

Similar comments have been made 
by officials in New. Jersey, California 
and Chicago. 

But not everyone was in accord with 


Mr. Bronfman's request. 

The Clinton administration made it 
known through Madeleine Kunin. its 
ambassador to Switzerland, and Un- 
dersecretary of State Stuart Eizenstat, 
ns principal negotiator with the Swiss, 
that it would prefer a 'moratorium on 
retaliatory actions that goes far beyond 
March 31. 

A M dj ? IS L sing lhe g ro “P- Mr*- Kunin 
recalled that when she was governor of 
Vermont before her appointment as am- 
bassador, she supported state sanctions 
against the white supremacist govern- 
ment then ruling South Africa. 

. But, she added, she believes the 
Swiss are trying in good faith to make 
amends and she concluded: ”We 

l ?3f! d J et our di P lo macy and Switzer- 
s democracy do their parts.” 

Mr. Eizenstat, who is leading the U.S. 
delegation at the environmental con- 
ference m Kyoto. Japan, sent a lengthy 
message that concluded: “It contour 
judgmem ^ and local 

woniH°E! are not 0nl y unwarranted but 
would be counterproductive. 

Utde Poetical wisdom in in- 
f. ressure J ust w hcn progress is 

^ and i ust w® 

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PAGE 7 










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your day, every 


EUROPE 


Spain Asks to Share 
Control of Gibraltar 

• MADRID — Spain on Tuesday pro- 
posed sharing sovereignty over Gibral- 
tar with Britain in an apparent softening 
of its long-standing demand for sole 
rule. 

The proposal will be presented to the 
British foreign secretary, Robin Cook, 
at an annnal meeting on Gibraltar in 
London on Wednesday, a spokesman 
for the Spanish Foreign Ministry said. 

A spokesman for the British Em- 
bassy m Madrid said. “Anything re- 
lated to sovereignty needs to be con- 
sidered by the UJC government and the 
people of Gibraltar, but no offer will be 
rejected out of hand ’ ' ( Reuters ) 

Court Blames France 
In Farmer Vandalism 


violent campaign by French farmers 
against Spanish fruit and vegetable im- 
ports in 1993 and 1994. 

The ruling cleared the way for Span- 
ish companies to pursue compensation 
claim s in the French courts. (AFP ) 

Serbia Vote \ Flawed l 9 

BELGRADE — Serbian elections 
Thi s fall were “fundamentally flawed.” 
with widespread potential for vote-rig- 
ging and bias in the state media in favor 
of the governing Socialists, interna- 
tional officials said Tuesday. 

The Organization for Security and 
Cooperation in Europe said that the 
Socialists had failed to allow other 
parties fall access to the vote count. 

it also said that several irregularities 
had been noted in ihe southern province 
of Kosovo. fAPJ 

For the Record 


BRUSSELS — The European Court Turkey’s population exceeds 62.5 
utni serafTteAmacdPra D f justice njed Tuesday mat France million, up from 56.5 million in 1990, 
TURKISH FLOOD — A milk truck caught in high water Monday after had not met its obligations to ensure the according to the unofficial results of a 
a storm in Istanbul. Hundreds of bouses and businesses were inundated, free movement of goods in the face of a census taken last month. {AFP) 


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German Defense Chief Acts in Army Incident 


By William Drozdiak 

HashingiM Post Service 

BERLIN — Defense Minister Volker 
Ruehe has punished two senior officers 
for their roles in allowing a convicted 
neo-Nazi to address soldiers at an elite 
military academy. 

Mr. Ruehe suspended a lieute nan t 
general and ordered disciplinary pro- 
ceedings against a colonel for inviting 
Manfred Roeder, a former lawyer who 
served eight years in prison for racist 
bombings against immigrants, to speak 
in 1995 at a leadership seminar at the 
Hamburg academy. 

The Roeder affair was the latest and 
potentially most damaging blow to the 
political rectitude of the German armed 
forces, which have found their postwar 
reputation damaged by several contro- 
versies that have demonstrated persist- 
ent extreme rightist activity within the 
ranks. 

The Defense Ministry announced re- 
cently that more than 80 incidents in- 
volving neorNazi behavior have been 
under investigation in the past year. 
They range from the possession of far- 
right propaganda to drunken assaults 
against Turks and other foreigners liv- 
ing in Germany. 

Last week, disciplinary action was 
taken against six paratroopers who dec- 
orated a room in their barracks with 
pictures of Adolf Hiller and pre-World 
War II army flags. German soldiers also 
have beat shown on videotapes staging 
mock executions and rapes, while oth- 
ers gave the banned Nazi salute and 
made anti-Semitic remarks. 

Mr. Ruehe insisted that these cases 
have been isolated incidents and did not 
prove that rightist extremism was 
rampant within the army. All German 
males are required to serve nine months 
in the military' or do other kinds of 
obligatory civi'l service. 

Mr. Roeder, 68. was jailed in 1 982 for 
leading an extremist group that carried 
out attacks on immigrant hostels in 
which two Vietnamese people died and 
several others were injured. 

Since his release from prison in 1990, 
his activities have been monitored by 
the nation's anti-extremist watchdog 
agency, which is empowered by the 
postwar constitution to keep an eye on 
dangerous political radicals. 

Mr. Ruehe described Mr. Roeder as 
* ‘one of the most disgusting neo-Nazis’ ’ 
to speak at the prestigious academy. His 
subject was ethnic Germans who pop- 
ulated Kocnigsberg, the former capital 
of East Prussia, which is now the Rus- 


sian enclave of Kaliningrad, situated 
between Poland and the Baltic states. He 
later was allowed to attend a banquet at 
tiie academy along with two dozen sol- 
diers and officers. 

Opposition politicians said they were 
outraged by the continuing evidence of 
neo-Nazi activities is the army and de- 
manded Mr. Ruehe’s resignation. 

“Either someone planned this or 
committed a stupid blunder,” said Wal- 
ter Kolbow, a defense expert for tire 
Social Democrats. “I hope in the in- 
terests of the Bundeswehr jt was the 
latter because anything else would be a 
scandal ” 

Mr. Ruehe said at a press conference 
in Bonn on Monday that there was no 
evidence to suggest that those respon- 
sible for Mr. Roeder’ s appearance were 
aware of his backgrounder bis neo-Nazi 
sympathies. But he said they deserved to . 
be punished for their failure to inves- 
tigate his background. 


Siberian Mining Enclave Faces a New Hardship: Capitalism 


By Michael R. Gordon 

New York Tones Sendee * 

NORILSK, Russia — Hardship is 
second nature for the residents of this 
Siberian enclave. Winter sends the tem- 
perature plunging to' minus 45 degrees 
centigrade and drops the sun below the 
horizon for months at a time. 

It was S talin who established this 
arctic city and dispatched hundreds of 
thousands of political prisoners here to 
extract the metal ore from mines so deep 
they seemed to run to die very center of 
the Earth. 

Later, Norilsk became a notorious 
example of wasteful communist plan- 
ning, a place in which die air and water 
were fouled with noxious chemicals that 
even now make breathing a hazard. 

Bat today, the people of Norilsk face 
what many feel is their greatest chal- 
lenge: the new world of capitalism. 

Russia’s most powerful bank has 
bought the gar gantuan mining and me- 
tallurgical complex that is the city's 
main employer and plans to slash the * 
company’s enormous work force and 
move more than a third of the city’s 
residents to the south. 

The audacious plan illustrates a 
pivotal phase in Russia's shaky tran- 
sition to a free-market economy: wheth- 


er the businessmen who have bought 
state enterprises at fire-sale prices have 
tiie management expertise to reshape 
those companies so they can be in- 
ternationally competitive. 

At stake is not wily the financial health 
of the companies but also Russia's Jong- 
deferred hopes for economic growth, 
already shaken by wild gyrations in the 
international capital markets. 

“Norilsk will be changed com- 
pletely,” said Vladimir Potanin, the 36- 
year-old head of Uneximbank, which 
has a controlling interest in Norilsk 
Nickel, as the metal complex is known. 

But some experts remain dubious. 

“These new bankers are deal- 
makers,” said Anders Asltrnd, a former 
economic adviser to the Russian gov- 
ernment and a senior associate at the 
Carnegie Endowment for International 
Peace. “They know something about 
finance. But they know very little about 
management.” 

From the start. Russia’s development 
of Norilsk's vast ore deposits has been a 
tangled tale of missed opportunities and 
ruthlessness. 

Lying on the remote Taimyr Penin- 
sula, where Siberia meets the Kara Sea, 
Norilsk lies in a forbidding and isolated 
zone. When workers here talk about vis- 
iting the rest of Russia, they say they are 


going to the “continent,” as if Norilsk 
were not a sprawling city of 260,000 but 
an island separated by a frigid ocean. 

This region contains more than a third 
of the world’s nickel reserves and two- 
fifths of die platinum-group metals. It 
also has significant amounts of cobalt 
and copper. 

Russia’s authorities ignored Nor- 
ilsk's early prospectors. At the end of 
the 19th century, Kipriyan Sotnikov, a 
local constable- who dreamed of wrest- 
ing a fortune from Norilsk’s hills, sent a 
sample of copper ore to the czar's treas- 
ury. The czar's men turned it away, 
complaining that the copper, needed to 
make kopecks, was contaminated with 
nickel; cobalt and platinum. 

But as World War II loomed over 
Europe three decades later, Stalin start- 
ed a crash effort to tap the deposits. 

Political prisoners were hauled by 
boat to the arctic port of Dudinka, 100 
kilometers (60 miles) to the west. They 
laid tiie rail tines, dug the mines and 
manned the factories. 

About 360,000 prisoners toiled away 
here from 1935 to 1956, according to a 
report by the Institute for Contemporary 
Politics, a Moscow-based research cen- 
ter. The institute estimates conservat- 
ively that 27,000 died. 

Some of the former prisoners still 


hang on, like Vilis Traubergs, who re- 
counted his tales of prison life by the 
eerie glow of fluorescent lights on the 
windowsills of his small apartment. 
Like other residents, Mr. Traubergs uses 
the lights to grow vegetables and sup- 
plement the supply of food imported 
from the “continent.” 

Many of Norilsk's current residents, 
however, were lured here after the pris- 
on camps closed by promises of higher 
salaries, free vacations and early re- 
tirement 

They were workers like Alexandra 
Mironenko, who left a village in south- 
ern Russia with his wife, hoping to put 
away a nest egg. He planned to stay no 
more than a few years but has lived here 
for 15 years. He earns 5 million rubles 
($850) a month as a mechanic — several 
times the going wage in the south — and 
still harbors hopes of moving back to the 
“continent” to build a home. 

Others consider themselves little 
more than economic prisoners. Their 
savings were wiped out by the soaring 
inflation of the early 1990s. The higher 
cost of food and transportation, plus the 
difficulty in finding new jobs, new 
housing and securing new residency 
permits, have turned Norilsk from a 
springboard into a trap. 

The hard times have spawned a new 


cottage industry. Norilsk is dotted with 
small shops, where well-tailored busi- 
nessmen with mobile phones buy the few 
shares of stock that the workers received 
through privatization on behalf of anon- 
ymous clients. The going rale: half the 
price at the Moscow stock exchange. 

The questions now are whether the 
doddering Soviet-style metal complex 
can be run along capitalist principles 
and at what cosL 

Even with the best of intentions, 
transforming Norilsk is a Herculean 
task. Changing the mentality of the 
managers and the workers isabigpanof 
the problem. During Soviet times, all 
that mattered was production. To pro- 
duce as quickly as possible, metal was 
skimmed from the richest ore and much 
of the remaining metal content dis- 
carded as waste. 

Foremen never wondered if they could 
get by with fewer men, and many still 
find the idea of downsizing offensive and 
even unpatriotic. Some advanced tech- 
nology was developed, but often little 
was spent to keep equipment up to date 
and reduce labor requirements. 

“It is difficult to get used to the idea 
that labor is a commodity," said Yuri 
Filippov, a longtime manager here. 
‘ ’People do not like idea of hired labor. 
They think it means they are slaves.'’ 


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2 Officers Are Punished 
For Neo-Nazi Incident 


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INTERNATIONAL 




PAGE 8 


WEDNESDAY, DECEMBER 10; 1997 


EDITORIALS/OPINION 


lieralb 


INTERNATIONAL 



Sribunc 


PUBLISHED WITH THE MFW VOUC nuts 4ND THE WASHINGTON POST 


America Loses a Battle 


' In the long-running battle of little 
yellow boxes vs. little green boxes, die 
green team — Fuji Photo Film Co. — 
has scored a big win. Eastman Kodak 
Co. had maintained that Fuji and the 
Japanese government colluded to keep 
Kodak film out of Japan. But the World 
Trade Organization, die Geneva-based 
arbiter of trade disputes established in 
1995, last week dismissed a case that the 
United States had brought on Kodak's 
behalf. The decision was preliminary 
and can be appealed, but die judges 
from Switzerland, Brazil and New Zea- 
land found so little merit in.the U.S. case 
that a reversal seems unlikely. 

The defeat ignited a predictable 
firestorm on Capitol Hill. Japan’s vic- 
tory * 'raises serious questions about the 
credibility" of the WTO, Missouri Re- 
publican Senator John Ashcroft said. 
Other members of both parties agreed. 

■ Before pique prompts the United 
Stales to pick up its ball and go home 
from Geneva, it is worth recalling that 
the WTO, in its short life thus far, has 
been very good to the U.S. side. The 
United States has brought more cases to 
the WTO than any other country, and 
until Last week it had not lost one. Seven 
had been decided in the U.S. favor, and 
seven more had been settled favorably 
in advance of a ruling, including two 
victories against Japan. Wanting to win 
every game is an admirable trait, but 
accepting occasional defeat with grace 
and perspective also has its uses. 

This case was more visible than most 
for several reasons. Kodak and Fuji 
spent tens of millions of dollars on 
lawyers, lobbyists and public relations 
firms. Kodak, facing serious troubles 
on other fronts, invested its case 
against Japan with more hope and sig- 
nificance than the weight of its ev- 
idence could bear. And the ruling came 
as Japan's trade surplus with the United 
States seems sure to soar to levels that 
the Japanese themselves realize, or 
should realize, will have damaging 
political consequences at the least 

This case also resonated more than 
most beyond its narrow sector because 
its underlying premise was solid: The 
Japanese economy is more closed and 


New Nuclear Guidelines 


The Clinton administration has 
sensibly revised America's nuclear 
warfare guidelines to catch up with the 
diplomatic and mili tary changes since 
the end of the Cold War. The new 
doctrine, approved by President Bill 
Clinton last month, marks an important 
step toward a world in which the 
United States relies on fewer nuclear 
weapons for its defense. 

Outlining circumstances in which 
Washington might use nuclear wea- 
pons may seem a surreal exercise. The 
idea of waging a nuclear war appears 
inconceivable, and winning one mean- 
ingless, given the scale of destruction 
on all sides. But these plans are im- 
portant because America continues to 
rely on its formidable nuclear arsenal 
to deter potential nuclear, biological 
and chemical attack. 

The new guidelines replace plans 
drafted by the Reagan administration, 
which envisioned protracted nuclear 
exchanges with the Soviet Union using 
all of the more than 10,000 deliverable 
nuclear warheads that America then 
possessed. The updated version antic- 
ipates a more than adequate deterrent 
force of some 2,500 warheads. The 
guidelines have also been changed in 
response to China’s increased military 
power and the germ warfare and nerve 
gas programs of countries like Iraq. 

Two major arms reduction agree- 
ments with Moscow have already cut 
American and Russian warheads to 
around 6,000- each. Informal discus- 
sions have begun on a third treaty that 
could bring both sides down to 2,000 
warheads or lower. Once the United 
States and Russia reach that level, arms 
reduction talks will have to include the 
other nuclear powers, Britain, China 
and France, as well. 

Meanwhile, threats like biological 
and chemical weapons are becoming 
more menacing. Washington’s new 
guidelines allow, but do not require, 
America to use nuclear weapons in 
response to attacks with germ war- 
heads or poison gas. President George 
Bush’s implicit threat of such a re- 
sponse may have helped persuade Sad- 
dam Hussein not to use his terror 
weapons during the Gulf War. 

That example is reason enough for 
America not to rule out nuclear re- 
sponses to biological or chemical at- 
tacks. But presidents must be ex- 


tremely cautious about actually using 
nuclear weapons, even where the 
guidelines permit it. As American 
presidents nave understood since 
Hairy Truman declined to use nuclear 
bombs in Korea, legitimizing the use of 
these weapons in battle would weaken 
the taboo that restrains other nuclear 
powers from using theirs, doing far 
more to imperil America's global se- 
curity than to advance iL 

Washington's nuclear warfare 
guidelines are always more bellicose 
than actual American policies because 
they represent a list of nuclear options 
available to the president As the Cu- 
ban missile crisis tapes from the 
Kennedy White House show, presi- 
dents have understood that the use of 
nuclear weapons must be the option of 
last resort and even then, one that is all 
but unthinkable. President Clinton 
now has an improved nuclear planning 
document that takes account of arms 
cuts already agreed to and leaves room 
for further reductions. 

— THE NEW YORK TIMES. 

Other Comment 
Climate Worries Insurers 

The insurance industry is worried. 
Natural disasters represent 85 percent 
of insured catastrophe losses globally, 
or SI 2.4 billion in 1995. donate 
changes wrought by global wanning 
may be driving these costs higher. 

Wildfires (hat raged in Indonesia 
this .fall, sparked by the unfortunate 
combination of deforestation and 
drought, and the looming threat of ma- 
jor weather-related disasters this 
winter due to El Nino are the kinds of 
costly events that some insurers fear 
will become more frequent if society 
continues to pump greenhouse gases 
into the atmosphere. 

According to Franklin Nutter, pres- 
ident of the Reinsurance Association 
of America, nearly half of the insured 
losses from natural disasters during 
the past four decades have been in- 
curred since 1990. 

He summed up the threat this way: 
"The insurance business is first in fine 
to be affected by climate change. It 
could bankrupt the industry." 

— Evan Mills, commenting in 
‘ The Washington Post. 


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Isn’t Europe Ambitious Enough to Admit Turkey? 

TANBUL — Will the future of the By Ismail Ccm bilateral pnjlem. to 

iuropean Union -be limited 


difficult to penetrate than Europe's or 
America's. Cartels and sweetheart 
deals are more common, price-fixing is 
less aggressively policed, consumers’ 
interests are sacrificed to those of do- 
mestic producers. 

The United States failed, in Geneva, 
to prove that deliberate Japanese gov- 
ernment policies had caused Kodak's 

troubles. But the paitero of domestic 
producers such as Fuji enjoying pro- 
tected markets in which they can 
charge high prices, and from which 
they can then wage aggressive turf 
battles overseas, is too pervasive for 
Japan to deny. 

The irony is that this economic mod- 
eL while damaging to foreign firms, has 
turned out to be even more harmful to 
Japan itself. Most Japanese politicians 
and leading industry groups now ac- 
knowledge tiiat Japan must deregulate, 
enforce its antitrust laws and take other 
measures to open its economy. Japan in 
fact has taken some steps in the right 
direction, bat political resistance has 
kept much of the rhetoric from moving 
to reality. A WTO victory for Kodak 
might have nudged Japanese reform 
along; it would be nice to think that 
Japan's government could follow 
through even without outside pressure. 

In the meantime, you might think 
thatFnji's victory would reassure those 
Americans who worry that the WTO 
will infringe too far on national sov- 
ereignty. The trade panel has been will- 
ing to strike down obvious trade bar- 
riers, but more subtle ones that are 
closely interwoven with the very fabric 
of bow a nation organizes its own eco- 
nomy may pose a greater challenge. 

As tins and other cases play out, the 
United Stales may want to consider 
remedies — bringing antitrust enforce- 
ment into the realm of international 
trade law, for example. But while con- 
sidering possible reforms. Americans 
should keep two things in mind: that any 
extension of the WTO’s reach can be 
equally turned back on America — and 
that so for the U.S. record in Geneva, 
Kodak's pain notwithstanding, is one 
that any other country would envy. 

— THE WASHINGTON POST 


T STANBUL — Will the future of the 
■lEuropean Union -be limited by re- 
ligious and ethnic considerations, or 
will it be one that reaches outand boldly 
contributes to diversity and unity? 

The Union is deciding on its en- 
largement process. One important de- 
cision is what role to offer Turkey, 
Western Europe’s main historical, cul- 
tural and economic link to eastern ho- 
rizons. Either the choice that the Union 
makes will provide a bridge of con- 
ciliation. or it will be discriminatory. 

We in Turkey consider ourselves 
both European and Asian, and view this 
duality as an asset. 

We find it disturbing when oar Euro- 
pean traits are questioned. 

We have lived 700 years of our his- 
tory in Europe and as a European 
power. Our history was molded as 
much in Istanbul, Edime and Sarajevo 
as in Bursa, Kayseri and Diyarbakir. 

Or is "European" defined by a re- 
ligious criterion? Is the European Un- 
ion a Christian club? 

If European culture is defined as the 
EU officially claims — that is, by 
factors such as democracy, human 
rights, rule of law, gender equality and 


By Ismail Gem 

Mr. Cent is Turkish foreign minister. 

secularism — then, despite tire need for 
further progress on some issues, we 
have shared and contributed to Euro 
pean culture for 75 years. 

We ask ourselves: What is the real 

declared EU c ommitm ents made to Tur- 
key over a period of three decades? 
Whai is it that causes the reluctance to 
call a country that has an association 
agreement with EU.and is part of the EU 
Customs Union,' a mere "candidate"? 

Why is there discrimination against 
a NATO member which has contrib- 
uted extensively to the defense of 
Europe? Why is there discrimination 
against one of the most dynamic eco- 
nomies of Europe, a country that will 
bring a lot in terms of markets and 
growth to the whole of Europe? On the 
eve of the new nriUennium, is the un- 
declared cause of discrimination the 
fact that Turkey is a Muslim country? - 
As for our relations with Greece, 
conventional criticism is generally un- 
founded. You need both sides to solve a 


improve relations. Third parties in- 
volved in negotiations to promote bet- 
ter understanding between us can bear 
witness to Our efforts. 

In talks with my EU counterparts, 
I have thoroughly addressed the prob- 
lems of human rights and democracy. 

I agree with most of the well-intentioned 
criticism, but reject politically motivated 
and exaggerated claims. Dining this 

present government’s time in office 
there has been considerable progress, 
although more is needed. 


call for a problem-solver trom another 
continent to resolve European problems 
like Bosnia or Cyprus? Will it be an 
introverted organization, or emerge as 
one that takes responsibility to create a 
better world for itself and for all? 

Turkey can contribute in all these 
areas positively, perhaps decisively. 

I hope thai the EU will not dis- 
criminate against us, will not exclude 
Turkey's candidacy from the present 
enlargement process and pre-accession 
strategy- I also hope it will not cause 


wiiin iuyu uiutv* JO inAAiwu. — —w r*i j -ii M . 

ButTurkey and the European Union. . further resentment in Turkey, will noi 
in any case, are not talking about im- deflate Turkey’s enthusiasm and mo- 
mediate membership. We are looking at menrum, will not take a course that 

a long-term accession process that could would damage its links with Turkey.^ 
play an important role in adding some The Biropen Union is not an ob- 
of the above-mentioned problems. session for Turkey, but I hope it makes 

Ir seems to me that the European the right decision. It ts still not too late 
Union still cannot decide whether it can for Europe’s leaders right by 

face the challenges of an emerging new Turkey while serving well the Union s 
world; whether it is capable of seizing own interests, 
the vast opportunities to encompass 
hew economic, historical and cultural 
dimensions; whether it can contribute 
to the harmonization of civilizations 
rather than to the clash of civilizations. 


The writer contributed this comment 
to the International Herald Tribune 
and to Global Viewpoint i Las Angeles 
Times Syndicate). 


No Country Is Beyond the Financial Markets’ Power 


W ASHINGTON — The 
film "Independence 
Day " depicts gigantic and ter- 
rifying spaceships appearing 
over the key capitals of the 
world. Large enough to block 
the sun, they hover, silently .just 
above the tallest buildings. 

Confused and frightened cit- 
izens pitifully tty to befriend 
them, but the alien vessels un- 
leash rays of terrible force, ob- 
literating the cities in minutes. 

In the last six months, global 
financ ial markets s imilar ly 
have trained their fire on the 
capitals of East Asia. One by 
one, from Bangkok to Seoul, 
they have crashed previously 
stable currencies. 

In their wake, they left soar- 
ing interest rates, tottering 
banking systems and slowing 
economies. Governments have 
been destabilized. The previ- 
ously muscular "Asian tigers" 
have beeh crippled, and India 
may be nexL 

This devastation suggests 
that world finan cial markets 
have emerged as a form of 
supranational government for 
the 21st century. 

They are not elected and do 
not convene. But as virtually all 
nations join the global econo- 
my, their finances are subject to 
die markets’ rulings. Their cur- 
rencies, which must be reason- 
ably stable to promote national 
growth, are always on trigL 
So is their access to inter- 
national borrowing markets to 
finance exports and infrastruc- 
ture. When these markets' ver- 
dict is negative, changes in na- 
tional economic policies are 
forced, and entire governments 
can be powerless. 

Increasingly, the Internation- 
al Monetary Fund is the only 
counterweight It alone can as- 
semble tire resources necessary 


By Roger C. Altman 


to financially rescue decimated 
nations. It alone has the political 
and territorial independence to 
demand tough financial reforms 
from the victim nation. 

But questions now are being 
raised about whether even the 
IMF can withstand such over- 
whelming financial forces. 

The most recent demonstra- 
tion of the markets' awesome 
power began last summer. 

For years, the leading nations 
of East Asia had been lionized 
as icons of growth. Their typical 
blend of high savings and in- 
vestment with relatively auto- 
cratic economic and political 
rale had been hailed as the ideal 
recipe for developing nations. 
And their GDP growth rates, 6 
to 8 percent annually in recent 


years, had been remarkable. But 
in July the foreign exchange 
markets became disenchanted 
with this region, beginning with 

Thailand 

Waves of selling battered its 
currency, which fell an astound- 
ing 40 percent against the dollar 
in three weeks. That made it 
hugely expensive for the coun- 
try and its private borrowers to 
pay off their vast, dollar-de- 
no ruinated debt The cost of im- 
ports soared. The central bank 
exhausted its reserves trying to 
defend the currency, and Thai- 
land, in effect, went bankrupt 

Its government fell, and the 
IMF stepped in with a $17 bil- 
lion package of emergency fi- 
nancing. conditioned on auster- 
ity measures. 


As they invariably do, the 
markets had grasped what no 
one else had yet seen: Thailand 
was financially sick. Thais had 
been running up huge debts, 
mostly in dollars, and depend- 
ing on the stability of their cur- 
rency to repay them. 

In particular, urged on by the 
political leadership, banks were 
shoveling loans into unprofitable 
and crony-controlled ventures. 

The global markets next 
turned thumbs down on Malay- 
sia. Indonesia and the Philip- 
pines in quick succession. They 
saw similar flaws in these econ- 
omies. They drove the curren- 
cies and stock markets to 
drastically lower levels. 

Then, like a spreading storm, 
this market opprobrium de- 
scended onto South Korea. 

The markets flexed their 


The IMF Only Gets in the Way 


W ASHINGTON— The In- 
ternational Monetary 
Fond was set up in 1945 to help 
guard die world's currencies 
under the Bretton Woods mon- 
etary agreement Bnt that deal 
was ditched long ago, and the 
IMF has become something 
else entirely — a lender of last 
resort to countries that get into 
financial trouble. 

In that role it is doing -for 
more harm than good. 

A free market economy has a 
very efficient way of dealing 
with misjudgment, excess and 
failure. It is called bankruptcy. 
Lenders, investors, managers, 
employees and politicians all 
take part of the hit, and assets 
pass from weak hands to strong. 
Everyone learns important Les- 
sons and starts afresh - 


By James K. GUssman 


By rushing to the rescue, the 
IMF is preventing this cleans- 
ing process and, in the current 
case of Asia, blowing a chance 
to inject freedom, imagination 
and competition into economies 
that suffer from too much gov- 
ernment control 
The IMF is also creating a 
classic problem of ‘ ‘moral haz- 
ard." Helping imprudent coun- 
tries actually encourages more 
imprudence in the future. 

Look at Mexico; which re- 
ceived a $50 billion bailout in 
1995. Mexico is in better shape 


jean Enterprise Institute last 
week. Lawrence Lindsey, a 
former Federal Reserve gov- 
ernor, said unequivocally that 
"we would get much more 
done in Korea without the IMF 
bailout” 

Deregulate South Korea’s 
banking system and let its banks 
be bought out by American 
ones. That would do more to fix 
the economy than all the bil- 
lions the IMF can throw at the 
problem. 

IMF officials are not evil or 
stupid, but they do suffer from a 
kind 1 of super-hubris, or over- 
weening {aide, that internation- 
al institutions tend to breed. 


The Peril in Kosovo 


By Misha Glezrny 


L ONDON — Bosnia is ash 
when things go wrong is 


J-jwbcn things go wrong in the Balkans. Kosovo is a dis- 
turbing example of where that may well happen, again soon. 

The province in southern Serbia is home to the former 
Yugoslavia’s most intractable conflict. Ninety percent of 
Kosovo's more than 2 million people are Albanians who have 
suffered discrimination at the hands of the Serbian authorities. 
Human rights groups cite arbitrary arrests and beatings. 

In the past, diplomats have dismissed Kosovo as the accident 
that never happens — the bomb that never explodes. There has 
been much tot-tutting and mild pressure, but so real push for a 
negotiated solution to Kosovo’s problems. But in recent 
months the situation in the province has steadily deteriorated. 

U ntil recently , the Albanians of Kosovo followed the advice 
of their self-proclaimed president, Ibrahim Rugova, and re- 
stricted themselves to peaceful protests. But the last 18 months 
have witnessed the emergence of the Kosovo Liberation 
Army, a shady group that has claimed responsibility for dozens 
of attacks on Serbian police officers and civilians. It hm also 
killed Albanians accused of collaborating with the Serbs. 

Members of the Kosovo liberation Army stepped out of the 
shadows 10 days ago when three masked men attended the 
funeral of an Albanian teacher. Halit Geci, who had been 
killed In a shoot-out between the group and the Serbian police. 
Brandishing semiautomatic weapons, the three swore that they 
would avenge Mr. Geci’s death and Kosovo’s Albanians. 

That finally drew the attention of diplomats. Klans KinkeL 
the German foreign minister, described the surge in violence in 
the province as ala rmin g and announced that Germany and 
France would be urgently looking for ways to contain the 
problem. The American charge d’affaires in Belgrade, Richard 
C. Miles, visited Kosovo several days ago to appeal for calm. 

If Kosovo ignites, violence could well spill over to Mace- 
donia, where this year occasional shoot-outs have punctured 
the uneasy calm between Albanians and Macedonians. 

Mr. Rugova, a moderate, is fast losing support among his 
people. Last week he renewed his appeal for U.S. and Euro- 
pean mediation. Unfortunately, the Yugoslav president, 
Slobodan Milosevic, still the master of Serbian politics, has 
stated repeatedly that Kosovo is an internal problem and no 
outside mediation is necessary. 

Serbs say they cannot make concessions in Kosovo because 
of its historical importance to them. It contains their most 
important religious monuments and is the symbol of Serbia's 
medieval statehood. But they must realize that Kosovo is now 
of no economic or strategic value to them. 

For their part, the Kosovo Albanians must appreciate dial 
they are not going to get independence overnight. If the 
Kosovo Liberation Army begins to dictate politics in Kosovo, 
there will be large-scale bloodshed. 

• The writer, author of "The Fall of Yugoslavia is com- 
pleting a history of Balkan nationalism. He contributed this 
comment to The New York Times. 


than it was two years ago, but And they often forget that they Moreover, the armies of mu- 
tfae rescue almost certainly gave are using other people’s money tuai funds and other investment 
governments in Asia a sense of for their good deeds. That vehicles are . largely unregu- 
confidence that, if they got into money will not last forever, and lated. There is nothing illegal or 
terrible straits, the IMF would the U.S. Congress is not in the unfair about their decisions, 
help them, too. mood to provide more. lire right focus, instead, is on 

Worse, tire bailout encour- To oppose IMF bailouts is the IMF. It is the emergency 
aged investors, including U.S. not to oppose free market in- financ ier for faltering govern- 
mutnal funds, to make risky teroationalism. On the contrary, meats and the architect of aus- 
bond and stock purchases in Without the IMF and the World terity measures for their finan- 
countries with overheated. Bank, Asia would be more ciai recovery. But the IMF 
shaky economies. And of open, not less. should develop a better early- 

course it has postponed Mex- The conflict is not so much warning system, 
ico's economic reforms. between globalists and iso la- In the Mexican collapse of 

Lately the IMF has been tionists as between those of us 1995 and in this year’s East 
shoveling money at Thailand, who want the future to take its Asian crisis, it issued no warn- & 
Indonesia and now South own vivid course and politi- ings to the nations involved. * 
Korea. The IMF has put up $35 cians who try, vainly, to guide it The industrialized world must 

billion for the three countries, along a path of their choosing, also ensure that the IMF has tire 
(Roog hly 18 percent of its funds The Asian countries have a necessary financial resources, 

come from the' United States, lot going for them — a diligent however large, to prevent full- 
with less than 6 percent each work force and high savings fledged collapses. Otherwise 
from Germany and Japan.) rates, for starters. Bnt they will the entire global financial sys - 
The IMF does not act alone, never achieve their promise un- tem could be at risk. 

It is the lead bank in a bailout less they jettison the top-down In "Independence Day," the 
consortium that includes the control and xenophobia that UJS. president personally leads a 
World Bank ($16 billion) and have landed them in their cur- fighter squadron to destroy the 
P5S billi0fl )- A mess. The way to end the alien ships. But global financial 

total of $1 13 billion has been old ways is to allow markets to markets are invisible and beyond 
put up, with no end in sight punish the perpetrators. tire reach of political leaders 

IMF money typically comes _1 

with strings attached: require- The writer is a fellow at the The writer was US. deputv 
ments tor higher interest rates American Enterprise Institute. Treasury secretary in 1993 and 
and lower government spend- He contributed this comment to 1994. He contributed this com- 
ing. for instance. The Korean The Washington Post. ment to the Los Angeles Times. 

bailout will try to go even fur- * 

tfaer. "Banking and financial- 

sector restructuring is abso- ^ ** — 

lutely at the heart of the pro- IN OUR PAGES; 100, 75 AND 50 YEARS 4GO i 

gram." says Stanley Fischer, . : ~ : — 1— w 

1*97: Jews iu Russia Anthem at the request of manv 


muscles, and the tigers were 
turned into goats. 

This power stems from pro- 
found changes in technology, 
global Liquidity and the culture 
of investment performance. 

Technology now permits in- 
formation to .be disseminated 
instantaneously worldwide and 
transactions to be executed 
electronically from any folly 
equipped terminal. 

In addition, huge capital 
flows are professionally man- 
aged for maximum investment 
results. The result often is mass 
capital movements, favoring a 
nation or abandoning it. The ver- 
dicts cannot be appealed. 

No nations are truly protected 
against these market rulings. 

In 1979, then President 
Jimmy Carter submitted a long- 
awaited budget that displeased 
the global currency markets. 
The dollar collapsed. Within 
two weeks, Mr. Carter retreated 
and submitted a new, tighter 
budget to Congress. 

Five years ago, British Prime 
Minister John Major, facing jit- 
tery markets, stood defiantly 
outside 10 Downing Street and 
vowed that Britain would not 
delink its pound from the key 
European currencies. Within 
days, after world markets 
crashed, the pound, he reversed 
course in humiliating fashion. 

These global markets are 
mostly unregulated today, and 
that is not likely to change. 

The domestic activities of 
larger U.S. and European finan- 
cial institutions are supervised 
by central banks and other agen- 
cies, but their international trad- 
ing and investment businesses 
are largely unconstrained. 

Moreover, the armies of mu- 
tual funds and other investment 
vehicles are . largely unregu- 
lated. There is nothing illegal or 
unfair about their decisions. 

The right focus, instead, is on 
the IMF. It is the emergency 
financier for faltering govern- 
ments and the architect of aus- 
terity measures for their finan- 
cial recovery. But the IMF 
should develop a better early- 
warning system. 

In the Mexican collapse of 
1995 and in this year’s East 
Asian crisis, it issued no warn- 
ings to the nations involved. 

The industrialized world must 
also ensure that the IMF has tire 
necessary financ ial resources, 
however large, to prevent full- 
fledged collapses. Otherwise, 
the entire global financial sys- 
tem could be at risk. 

In "Independence Day,” the 
UJS. president personally leads a 
fighter squadron to destroy the 
alien ships. But global financial 
mark ets are invisible and beyond 
the reach of political leaders. 

The writer m as US. deputy 
Treasury secretary in 1993 and 
1994. He contributed this com- 
ment to the Los Angeles Times. 


the IMF’s No. 2. 

There is no doubt that South 
Korea, which will get $55 bil- 
lion in bailout money, needs it 
Like most other Asian nation^ , ir 


LONDON — The Times’ St 
Petersburg correspondent says: 
Judging by the terms of an Im- 


Antirem at the request of many 
Fascist! in the audience, but 
when the Fascisti shouted for 
their hymn, "Giovinezza." Si- 
gnor Toscanini replied that the 


duces America's liberals. 

- In South Korea, banks made 
massive loans, at the govern- 
ment's direction, to the chaebol, 
or conglomerates. The banks 
also owned large chunks of stock 
in Korean companies. So when a 
conglomerate like Km Motors 
got into trouble, tire banks were 
hit by a double w hammy al- 
though the government tried to 
cover the losses up. 

The question is whether the 
IMF ana its fleet of leaders can 
force reforms better titan the 
free market, which would cre- 
ate a new South Korean econ- 
omy through, loan defaults and 
bankruptcies. 

At a symposium at the Amer- 


Interior, the Tsar has agreed to 
repeal the paragraph of the 
passport laws as for as regards 
Moscow city and province, 
which gives to Jews studying 
pharmacy, the profession of 
medical attendant and mid- 
wifery the right to reside in all 

parts of the empire, 

1922: Fascist Songs 

MILAN —Maestro Amiro To- 
scanini has resigned as conduc- 
tor at the Scala as the result of a 

Fascisti demonstration in that 
opera house during a gala per- 
formance of "Falsxaff ’ in hon- 
or of the Italian Navy. The or- 
chestra repeated tire National 


1947: Soviets Ousted 

PARIS — ■ The French govern- 
ment expelled from France 
twelve members of u Russian 
mititaiy commission. The ac- 
tion followed official accusa- 
tions that some members of the 
commission had been waiting 
against the "security of the 
"6®?“ state.” What was un- 
officially called Soviet retali- 
ation to this order was contained 
{n a statement issued by the 
rad ‘°- It announced 
wat trade negotiations between 
trance and Russia, with the ob- 
jective of exchanging French 
machinery for Soviet wheal, 
had been called off. 


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OPINION /LETTERS 


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Tough, Smart Women, 
Working to Better Iran 


Bv Catherine O’Neill 


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T EHRAN — Somehow I had 
always tell that women who 
adopted the chador had shut me 
out. Thai black cloak seemed a 
way of savin«: •Don’t approach! 
My values arc different. *’ 

A recent visit to Iran has proved 
how wrong I was. It also has 
taught me something about not 
imposing my values on lough, 
smart women who are working to 
make changes in their country. 


.. . • . j 

went to Tehran to attend a con- 

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present in the hotel ballroom as 
several hundred chador-clad 
women, and some men, dis- 
cussed. debated and criticized as- 
pects of Iran's laws. 

One speaker criticized Iranian 
companies that profit from cheap 
child labor. 

Another talked about the illogic 
of a 3 U-y ear-old woman profes- 
sor’s being unable to choose a 
spouse without the approval of a 
father or grandfather — while a 
1 5-year-old boy needs no approv- 
al to gel married. 

Speakers noted Iran's effective 
village health care programs, uni- 
versal immunization for children 
and the high percentage of girls 
and boys anending school. 

But the speakers wanted more 
for Iran's children and women. 

During breaks, women ap- 
proached me to talk. They were 
doctors, lawyers, teachers, psy- 
chologists. professors, child edu- 
cation experts and mothers. We 
cared about the same things: drug 
abuse among young people, child 
custody issues, child abuse, ju- 
venile delinquency, homeless 
children, footer care and child 
labor. 

1 thought about a Los Angeles 
Times article that 1 had read on the 
plane to Tehran. It was accom- 
panied by photographs of Cali- 
fornia mothers injecting them- 
selves with heroin' while their 
children sal on their laps. Drunken 
and drugged fathers send their 
daughters to bed hungry because it 
is too “dangerous” for them to 
walk to a nearby soup kitchen for 
supper. 

As 1 listened to ihe Iranian 


women, I realized that we Ameri- 
cans have no reason to be smug 
about how we care for our chil- 
dren. 

Another reason we cannot be 
smug is that the United States and 
Somalia are the only two coun- 
tries in the world that have not 
ratified the UN Convention on the 

Rights of the Child. 

In Iran. I also realized how the 
uniformity of the chador is a way 
of uniting women. There are no 
clothes to separate the sophisti- 
cated. educated urban elite from 
deeply religious rural women. All 
Iranian women, in public, are 
dressed the same. 

In central Iran I had lunch with 
some young teachers and librar- 
ians from a village. They had been 
babies at the time of the Iranian 
revolution and had never been to 
Tehran. Two were engaged to be 
married and asked about wedding 
practices in the United States. 

When they picked their hus- 
bands, they said, they had sought 
men with good religious values 
who would make a good living. 
They also said that men's looks 
were not so important because 
looks fade. 

Schoolgirls in mosques asked to 
have their pictures taken with me. 

In a gynecologist’s . office, 
where chador-clad women waited 
their turn, the woman doctor 
said she performed in-vitro 
fertilizations. 

In a restaurant, a group of 
women encouraged me ro try the 
water pipe. 

My experiences in Iran should 
not be so rare for Americans. A 
new generation has arrived and 
almost two decades have passed 
since the hostage crisis of 1979- 
80. The United States is the 
only major power with no contact 
with Iran. But the Iranian 
people have given a signal: 
They voted in a new president 
against the recommendations of 
their religious leaders. 

It's time for us in the United 
States to reach out to the 70 mil- 
lion children, men and women in 
Iran, who. I’ve found, have much 
in common with ns. 



5o. mm 
THNG5N 
YOURUTUE 
COUNTRY? 


SnONN’ 1 . 




AIDS: Just Another Killer 
In America’s Inner Cities 


By Bob Herbert 


LETTERS TO THE EDITOR 


The writer, who serves on the 
hoards of several humanitarian 
organizations, visited Iran at the 
invitation of Unicef. She contrib- 
uted this comment to the Inter- 
national Herald Tribune. 


Courting Kabila 

Regarding “No Free Pass for 
Kabila ” ( Editorial . Dec. 1 ): 

The editorial gives U.S. Am- 
bassador Bill Richardson too 
much credit for the ostensible res- 
olution of the diplomatic impasse 
between the United Nations and 
the Democratic Republic of the 
Congo. 

Mr. Richardson got Congo's 
president, Laurent Kabila, to agree 
that the investigation would cover 
alleged human rights violations oc- 
curring even after he had assumed 
power and co ntinuin g through the 
end of this year. Yet it is fair to ask 
if Mr. Richardson went too far in 
courting Mr. Kabila. 

Mr. Richardson's compromise 
is fraught with potential pitfalls. 
The decision to limit the inves- 
tigation's duration to roughly four 
months (the scheduled date of 
completion is Feb. 28. 19981 was 
far too generous. Congo is a vast 
country with a minimal infrastruc- 
ture. It takes days simply to arrive 
at a site and establish a base from 
which to conduct an investigation. 

Also, by fixing an end date for 
the investigation without ensuring 
that the team would first be al- 
lowed to deploy in the field, Mr. 
Richardson gave Mr. Kabila an 
additional incentive to stall for 
time. Indeed, almost six weeks 
passed after die “agreement” 
was concluded before Mr. Kabila 


permitted the United Nations to 
commence its work. 

It should come as no surprise 
that Mr. Kabila finally allowed 
the UN team to deploy on Dec. 3, 
right before the international 
donor community convened a 
fund-raising conference to aid 
Congo. The compromise must not 
be cynically manipulated to serve 
political expediency and bolster 
Mr. Kabila at any cost. 

E. BERMAN and K. SAMS. 

Geneva. 

Eric Bennan is executive di- 
rector of UN Watch, where Katie 
Sams is a fellow. 

Inane Lobbyist 

Regarding “Lobbyists for Big- 
ger and Better Emissions Ques- 
tion Whether Global Warming Ex- 
ists" {Dec. 4): 

The story about the electricity 
industry lobbyist who dismisses 
global wanning rang a bell. 
Didn’t Another industry proclaim 
that no scientific evidence linked 
its product to trouble, in its case 
lung cancer and heart disease? 

At least the tobacco industry 
did not have the nerve to present 
its cause as a lonely, heroic fight 
for the truth. Neither did it come 
up with such astoundingly infan- 
tile analogies as those made by the 
electricity lobbyist to illustrate the 
industry's plight: “How many 


people were following Moses 
when he started? And there was 
only one guy saying the Earth was 
round in the beginning.” 

STANLEY G. ESKJN. 

Bremen, Germany. 

Critical France 

Regarding " What Sort of Friend 
Is a Resentful France ?" (Opinion, 
Nov. 28) by Richard Cohen: 

it is reassuring to read that Mr. 
Cohen loves France too much to 
bomb it. even in a friendly way. 

What Mr. Cohen calls a snit has 
existed for a long time in French- 
American relations, and references 
to Lafayette are sometimes hol- 
low. It was Lafayette who wrote: 
“I never would have drawn my 
sword in the cause of America if I 
had known that thereby I was help- 
ing to found a nation of slaves.” 

Let the French criticize whom 
they want They are good at it. and 
we can learn from iL 

DAVID WINGEATE PIKE 
Paris. 


Letters intended for publica- 
i ion should he addressed " Letters 
to the Editor" and contain the 
writer's signature, name and full 
address. Letters should be brief 
and are subject to editing. We can- 
not be responsible for the return of 
unsolicited manuscripts. 


N EW YORK — Nushawn 
Williams made a brief ap- 
pearance in Bronx Criminal Court 
last Thursday. A judge postponed 
sentencing him on a drag charge 
pending a psychological evalu- 
ation that will take 30 days. Mr. 
W illiam s did not say anything 
during the hearing. 

Mr. Williams is the 21 -year-old 
street thug who is believed to have 

MEANWHILE 

infected at least nine women and 
young girls with HJV, the virus 
that causes AIDS. The ultimate 
toll from this one-man epidemic 
will undoubtedly be much higher. 

Authorities believe be had un- 
protected sex with dozens of fe- 
males. some of them very young. 

The Williams stoiy sent a shud- 
der through the nation. But what is 
most frightening is not what Mr. 
Williams is alleged to have done 
— deliberately expose his sex 
partners to the v inis — but that the 
virus is being transmitted to so 
many poor and ignorant young 
people in very similar ways. 

Nushawn Williams is not 
nearly the aberration that we 
would like to think. And young 
people, especially marginalized 
young people from poverty- 
stricken backgrounds, arc not 
well-prepared to protect them- 
selves against that kind of 
menace. 

“AIDS education as we've 
done it traditionally is basically a 
failure," said S. J. Avery, the di- 
rector of Bronx AIDS Services. 

“People are still engaging in 
high-risk behavior,” she said. 
4 ‘We have a huge problem getting 
people to take it seriously. For 
many young people in the Bronx, 
the threat of AIDS is parr of a 
whole constellation of problems 
that they have to deal with. I think 
it adds to their sense of fatalism. 
AIDS is just another one of the 
things that is likely to get you.” 

Ms. Avery and her colleagues, 
in a series of interviews last week, 
talked about children and adoles- 
cents whose families have fallen 
apart, who frequently are exposed 
to the dangers of violent crime and 
illegal drugs and who seldom, if 
ever, have enough money. 

“HIV and AIDS is not the big 
picture in their lives.” said Diana 
Caraballo, the senior educator for 
Bronx AIDS Services. “It is not 


as important as having food on the 
able, dolhes on their backs. You 
put a 13-, 14- or 15-year-old girl in 
that situation and a guy with a nice 
car, money and jewelry comes 
along and she will have unpro: 
tecied sex." 

Ms. Avery said she believed 
there was very little difference 
between some of the girls she 
sees in the Bronx and the young 
women and girls believed to have 
been infected by Nushawn Wil- 
liams in upstate Chautauqua 
County. Poor and with little to 
look forward to. they are vulner- 
able to a guy who comes along 
and makes'them feel good. 

“I can tell you what happens.” 
Ms. Avery said. “The guy comes 
up and says. * Hello', 4 and they hear 
him say. ‘I love you.* ” 

There is little question that 
large numbers of men and boys 
continue to have unprotected sex 
after learning that they are in- 
fected with HIV. Some are Filled 
with conscious or unconscious 
rage. Others simply care nothing 
at all about their "partners. And 
many are in deep denial about 
their" own health and what they are 
doing to others. 

Said Ms. Caraballo: "We see a 
lot of kids who know their status 
but don't believe it because they 
are not yet sick. They continue to 
have sex. A boy will say: *1 tested 
positive but I ain’t gonna use a 
condom. I’m not sick. And be- 
sides, I ain't gonna many her. 4 ” 

Very little attention is being 
paid to all of this. The daily life of 
kids in the inner city, where .AIDS 
is spreading fastest, is not con- 
sidered good copy. Who cares? 

Stacey Strother, who handles 
AIDS issues for the Bronx borough 
president, may be correct when, 
speaking of the vulnerability of 
young women, she says, “If you 
have low self-esteem you are not 
likely to negotiate safer sex.” 

But the self-esteem of poor 
youngsters is a subject that draws 
yawns at best from the vast ma- 
jority of Americans. 

AIDS does not occur in a va- 
cuum. With no cure and no vac- 
cine at band, the only way to de- 
feat it is to link prevention efforts 
to an attack on the many other 
problems that are undermining the 
lives of young people. 

At the moment, there is little 
chance of that happening. 

The New York Times 


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INTERNATIONAL 


Fractured Politics Continue to Cloud Prospects for Indian Economic Reform 


By John F. Bums 

New York Times Service 


NEW DELHI — With elections set for early 
- next year, India faces a bleak prospect a second 
■ vote in just two years in which a fractured elec- 
torate seems unlikely to give any party or com- 
bination of parties enough support to provide the 
bold government many Indians say the country 
needs. 

The election could take an unexpected turn, 
producing a strong showing by one of the three 
main political blocs that split the outgoing Par- 
liament. But most opinion polls suggest that the 
pattern set in an election 20 months ago is likely 
to be repeated: a vote that produces no par- 
liamentary majority, nor anything close. 

If so. India could be in for more years of 
indecisive coalition government and condoned 
wavering oa the economy. This would mean that 


India in 1998 would be still tussling with an issue 
that many hoped had been settled back in 1991, 
when Rajiv Gandhi’s assassination during an 
election campaign produced an unexpected vic- 
tory for die Congress (I) Party and an even more 
unexpected break with the policies of the past. 

The new prime minister then, P. V. Narasimha 
Rao, was a Congress Party veteran associated with 
a deadening brand of socialism introduced by 
Jawaharlal Nehru, the first prime' minister after 
independence. But when he took office and found 
India close to default on $90 billion in foreign debt, 
he scrapped the Nehru blueprint and opened India 
to foreign investment and competition. 

Many Indians say that the early success of Mr. 

Rao’s reforms depended on having a powerful 
government capable of pushing through its 
policies, just as Congress governments had done 
in an earlier era. But because those early Con- 
gress policies were widely seen as having failed 


and, many Indians say, because the governing 
system Britain bequeathed India in 1947 was too 
centralized for a country with a myriad of re- 
gions, languages, ethnic groups and religions, the 
political system was in crisis by 1991, with a 
multitude of new groups fighting for power. 

In the 1996 election, these splinter groups 
made major inroads, mostly at the expense of a 
Congress Party that had become so venal that a 
dozen of its ministers are now on trial or under 
investigation for corruption. Some Congress 
votes flowed to these smaller groups. Others 
went to the Hindu nationalist Bharatiya Janata 
Party, which emerged from the elections with the 
largest bloc in Parliament 

The Congress Party won the second-largest 
number of seats, with most of the rest going to an 
array of regional and leftist groups that came 
together after the 1996 election in a new for- 
mation known as the United Front. It governed 


for the last 18 months, with the capricious back- 
ing of a Congress Party that seemed unable to 
decide whether to rebuild, or to elbow aside the 
United Front and grab power for itself. 

The United Front coalition proved unstable, 
with the government of Inder Kumar Gujral 
collapsing on Nov. 28. Both he and his United 
Front predecessor, H.D. Deve Gowda, never 
succeeded in curbing factionalism in their cab- 
inets, especially on economic policy . 

An economic slowdown that had begun under 
Mr. Rao worsened as the government dithered 
over steps to modernize labor laws, remove bar- 
riers to foreign investment and tackle govern- 
ment corruption. Few Indians see the coming 
election as providing any solution. The Congress 
Party almost sphi during the maneuvering that, 
preceded the election call Thursday, with d ozen s 
of its members of Parliament negotiating secretly 
to join the nationalists. 


Many Indians believe that support among pro- 
fissions! and upper-caste groups would lend the 
Hindu nationalists an efficiency lacking m recent 
governments. The nationalists will be backed by 
some of India’s largest businesses, which are 
wary of foreign competition and favor nationalist 
economic policies tnat would include at least a 
modest rollback of the economic reforms. 

But the nationalists face acute wanness among, 
lower-caste Indians who account for a majority 
of the -600 million voters, among non-Hindi- 
speaking Hindus in southern India, and among 

India’s 120 million Muslims. 

Some think ihat the United Front could return 
to office for the same reason that it prospered in 
the 1996 election: the growing tendency of voters 
to favor parties representing sectional or local 
interests. For the first time, the United Front win 
campaign under a single banner, but without a 
clear candidate for prime minister. 


Witness 
Tells of Biko’s 
Torment at 
Police Hands 


The Associated Press 

PORT ELIZABETH, South Africa — 
A former policeman. Jacobus Beneke, 
told Tuesday how he stood guard over a 
beaten, chained Steve Biko but never 
wiped the blood off the activist or sought 
• medical help for him. 

The testimony before the Truth and 
Reconciliation Commission provided 
more details of the final days of Mr. 
' Biko, a black consciousness leader and 
one of South Africa’s leading anti- 
apartheid heroes when he died in police 
detention In 1977 at age 30. 

Mr. Beneke, 48, is one of five former 
security policemen seeking amnesty in 
the Biko trilling. 

He described how Mr. Biko, injured 
and semiconscious from an assault dur- 
ing a police interrogation, was chained 
crucifixion style to a gate and left stand- 
ing for hours. 

“I saw that he was standing there with 
open staring eyes and seemed be was not 
aware of what was going on,” Mr. Be- 
neke said. 

Although Mr. Beneke thought Mr. 
Biko should get medical care* he took no 
steps to clean the blood off Mr. Biko's 
face or treat other injuries. A doctor who 
examined Mr. Biko the next day found his 
bead injuries had caused incontinence that 
left Mr. Biko's clothes soaked in urine. 

Mr. Beneke stared down when 
George Bizos, a lawyer representing foe 
Biko family, accused the policemen of 
beating Mr. Biko and letting him suffer 
out of hatred. 

‘'May 1 suggest it was evidence of foe 
utter contempt of Mr. Biko as a human 
being and pure hatred for him” that led 
to such negligence, Mr. Biros said. 

The officers have -testified that Mr. 
Biko’s death was unintentional, result- 
ing from a scuffle after Mr. Biko refused 
to stand during an interrogation. 

Mr. Bizos, who also represented foe 
Biko family at a 1977 inquest that ab- 
solved foe police of responsibility in the 
killing, called that story a lie. 

"Isn't it that you and your colleagues 
decided on the morning of Sept. 6 that 
you were going to teach him a lesson and 
punch out of him that a black man should 
have the cheek to think he was as good as 
a white person?” Mr. Bizos asked. 



Hemal Bopfis/Rnms 

ZIMBABWE PROTEST — Riot police Tuesday arrested the Catholic Commissioner for Justice and 
Peace, Mike Auret, left center, and his son in Harare, the capital, as the two participated in an anti-tax 
protest They were later released. An estimated' 150,000 workers around the country staged demon- 
strations against the imposition by President Robert Mugabe’s government of a new tax package. 


Islamic Group in Egypt Seems 
Split as Tourist Truce Is Denied 


Reuters 

CAIRO — The largest Islamic mil- 
itant group in Egypt appears to be split 
between supporters ana opponents of a 
truce with foe government, sparking 
fears of a schism that could produce 
more violence, diplomats and Islamic 
sources said Tuesday. 

Two statements — one Monday vow- 
ing to halt attacks on foreign tourists and 
a second Tuesday denying that such a 
decisi o n had been made — were issued 
in the name of foe Islamic Group, foe 
terrorist group dial' claimed responsi- 
bility for foe massacre of 58 tourists in 
Luxor last month. 

The Islamic Group ’‘confirms that it 
has nor issued’ 1 the statement Monday to 
stop targeting foreign tourists “and has 
nothing to do with it,” said a statement 
issued ^Tuesday. 

Sources said that foe schism, which 
began to surface in July following a truce 
call by imprisoned leaders of foe gronp, 
could produce more violent acts, like foe 
one that lolled foe foreigners in Luxor. 

Montasser Zayyat, a lawyer known 


TRAINS: With New Rail Line, Europe Moves Onto the Fast Track 


Continued from Page 1 

In June last year, foe opening of a 
high-speed line fromParis to the Belgian 
frontier cut travel time between Paris 
and Brussels to one hour and 58 minutes 
from about three hours on conventional 
trains and track. The further reduction in 
journey time is made possible by the 
completion of the track from foe frontier 
to the southern Gare du Midi station in 
Brussels, where a new terminal has been 
built to accommodate foe sleek red-and- 
gray t rains 

The bad news for travelers between 
Paris and Brussels is an average 7 per- 
cent increase in fares. But Westrail In- 

foe trains in France and Belgium, prem- 
ises an improved standard of service and 
food on board. 

_ The new high-speed track runs through 
open countryside in Wallonia from a 
point just south of Lille, where it links 
with the high-speed line r unning toward 
the Channel Tunnel and London. 

Sections of foe conventional track be- 
tween Brussels and foe Netherlands and 
between Brussels and Germany are be- 
ing upgraded to permit the tr ains to 
operate at higher speeds. 


The Thalys service will reduce travel 
time between Paris and Amsterdam to 
three hours and 15 minutes from four 
boms and 12 minutes; and between Paris 
and Cologne to three hours and 10 
minutes from four hours and 2 minutes. 
Planners said this would make foe ser- 
vice competitive with air travel taking 
into account the time spent traveling to 
airports and checking in. 

The journey times will be shortened 
once planned track improvements axe 
completed in 2002, reinforcing foe po- 
sition of Brussels as a European trans- 
port hub. The completion of foe system 
will link Brussels to Amsterdam in one 
hour and 41 minutes and to Cologne in 
one hour and 45 minutes. 

Like foe Eurostar service linking Par- 
is, Brussels and London through foe 
Channel .Tunnel the Thalys service is 
part of a major effort by foe European 
Union to upgrade railroads throughout 
the continent and protect foe environ- 
ment by reducing dependence on the 
automobile. 

The i dea of linking Europe with a 
network of high-speed trains dates back 
to 1983. The 1994 European summit 
conference in Essen, Germany, ap^ 
proved a series of road and rail networks 


and other transportation infrastructure 
aimed at bolstering die European single 
market and buildmg greater economic 
strength for foe next century. 

The philosophy of the European 
Commission, foe EU’s executive body, 
is to seek to overcome the national bias 
in transportation planning and to en- 
courage gove r n ments to develop links 
across borders. 

The new Paiis-Brussds service is a 
big step in this direction because it is the 
first service to link two capitals entirely 
by high-speed track. 

About 80' percent of foe 92 billion 
Ecus ($102 billion) earmarked fra: trans- 
European transport networks is being 
spent on developing railroads, while 
only 10 percent is destined purely for 
road construction. 

- The Thalys service is an engineering 
feat not only because of the highly auto- 
mated track but also because of the com- 
plexity of foe trains, built in France by 
GEC Alsthom. The trains, each with a 
capacity of 377 seats, can operate on the 
different power systems of the partic- 
'* _ countries without interruption, 
train consists of two motor units 
assenger cars. 

Thalys service was intro- 



IHT 


doced in 1996, passenger traffic has in- 
creased 45 percent. According to SNCF, 
the share of trains in all traffic between 
France and Belgium, including air and 
road, has increased to 40 percent from 24 
percent in 1994. 

Although foe word Thalys evokes foe 
muse of poetry, the word was invented 
by a Dutch-Belgjan design company, 
Total Design, to be easily recognized 
and easily pronounced in all the coun- 
tries served by the train. 


BRITAIN: A Transformation in Progress 


Continued from Page 1 

As demonstrated by foe outpouring of 
grief over foe death of Diana, Princess of 
Wales — and the more recent uproar 
over foe trial in Massachusetts of a Brit- 
ish au pair, Louise Woodward — this is 
a country prepared to show its emotions 
more openly than in foe past. It is more 
informal — Mr. Blair typifies this by 
insisting that his aides refer to him as 
Tony — and less deferential toward au- 
thority. Radio call-in shows that encour- 
age people to speak their minds are 
growing in popularity. 

"There is a much greater questioning 
of institutions than there has been for a 
very long time,” said foe Reverend 
Nigel McCulloch, bishop of Wakefield. 
"This affects foe monarchy; it affects 
the church. People question foe authority 
of members of Parliament in ways they 
never did before.” 

In some ways, Britain seems to have 
been down this path before — three 
decades ago during the “Swinging 
*60s” of the Beatles, foe Rolling Stones, 
Carnaby Street and the miniskirt. The 
pervasive youth culture of the day 
stretched the social fabric. But that re- 
ceded, leaving Britain's major institu- 
tions largely unchanged and foe country 
Still searching for its post-imperial place 
in the world.' 

That history is the reason even those 
in foe middle of helping define the Bri- 
tain of today sometimes have trouble 
separating the permanent from foe fad- 
dish. 

“Maybe it is just going to be foe 
Swinging '60s again and will die out,” a 
senior adviser to foe prime minister said. 
“But I think it is different I think we'll 
find out what we’re about and how we 
define ourselves.” 

His uncertainty is understandable, 
given the ebb and flow of fashion and 
opinion here. Three months ago. in the 
days after Diana’s death, there was talk 
that the monarchy might not last much 
longer, that Queen Elizabeth II would be 
forced to abdicate, that Prince Charles 
would never be king. 

Today. Diana's death seems almost a 
distant memory. Charles appears lib- 
erated as a single parent and has been the 
beneficiary of glowing press coverage 


for his interest in charitable works and a 
more relaxed attitude toward the media. 
The celebration of Queen Elizabeth’s 
50th wedding anniversary last month 
was a virtual love-in for foe monarchy. 

The royal biographer Ben Pimlott 
says that what has come out of the D iana 
episode is not that foe monarchy should 
go. “but a concern for foe royal family 
and a desire to help them help them- 
selves” to change. 

Mr. Blair, too. has learned how 
quickly impressions can change. In foe 
first months after bis government took 
over in May, he and his Labour Party — 
“New Labour,” in Mr. Blair's vernacu- 
lar — were lionized as a vivid and fresh 
contrast to foe pallid Conservative Party 
that had ruled Britain for 18 years. 

Today. Mr. Blair’s long honeymoon 
has come to an end, foe victim of a 
collision between foe rhetoric of cam- 
paigning and foe reality of governing. 
He remains extraordinarily popular with 
foe public, but there are many more 
critics who question whether New La- 
bour is more style than substance. 

Still it is quite likely that when- his- 
torians look back, Mr. Blair's landslide 
victory and the convulsive effect of Di- 
ana’s death will be seen as catalysts for 
continuing change. 

Mr. Clarke of Cambridge University 
argues that looking back to before Mar- 
garet Thatcher’s regime, Britain already 
is vastly different But it is even clearer 
today that foe economic changes in- 
stituted by Prime Minister Thatcher left 
foe country yearning for accompanying 
social and political change. 

Thar is no way diminishes foe sig- 
nificance of what Mrs. Thatcher did. 
When she came to power in 1979, Bri- 
tain was “the sick man of Europe” 
economically. Today, Britain has the 
healthiest economy of any of foe major 
European nations, and its strength in 
such consumer-led industries as film- 
making, entertainment, music and 
design ensures that Britain will influence 
tastes and habits far beyond its borders. 

But Martin Jacques, a writer and 
former editor of the journal Marxism 
Today, believes foe Thatcher-led rev- 
olution that denationalized much of the 
economy left Britain awkwardly bal- 
anced between old and new. 



Israeli Group of Farm Experts Visits Iran 


Agence Fmnce-Presse 

JERUSALEM — Iran played host to 
16 Israeli agricultural experts as part of 
an effort to rekindle economic ties with 
die Jewish state, Israel radio reported 
Tuesday. 

The visit by nongovernment experts 
was organized with foe help of an Israeli 
group that facilitates ties with Arab 
states and German officials who passed 
on an invitation from an unofficial Ira- 
nian farm group, the radio said. 

The report, which quoted members of 
foe Israeli group, did not give foe dates of 
foe visit 

The Israeli delegation met the deputy 


agriculture minister of Iran and provided 
advice on fertilization, irrigation and foe 
establishment of farms to improve wheat 
and cotton production. 

After the visit I ranian economic of- 
ficials in Germany informed Israeli of- 
ficials that they wanted to pursue eco- 
nomic cooperation, foe radio said. 

Most of foe recent Israeli-Iranian con- 
tacts have been coordinated through Ger- 
many, the organization told the radio. 

The Islamic regime that toppled foe 
Shah and seized power in Iran in 1979 
immediately broke off relations with Is- 
rael and has refused to recognize foe 
Jewish state’s right to exist 


SUMMIT: Iran’s Leaders Air Differences 

Continued from Page 1 ■ its guests in a massive press conference 


TM BcbraMReoax 

A woman in white from an African Islamic country sitting among 
Iranian women during the Islamic summit in Tehran on Tuesday. 


leader, and Crown Prince Abdullah ibn 
Abdulaziz of Saudi Arabia, the highest 
ranking Saudi official to visit Iran since 
the fall of the American-backed shah in 
1979. 

Arab turnout in fact is much higher 
than for foe U.S .-sponsored economic 
conference held last month in Doha, 
Qatar, with the aim of forging ties be- 
tween Israel and its Arab neighbors. 
Most Arab countries boycotted that con- 
ference to protest whit they regard as foe 
failure of Prime Minister Benjamin Net- 
anyahu of Israel to implement peace 
accords signed with foe Palestinians. 

Iran has sought to make the most of 
foe international spotlight, welcoming 


its guests in ama&sive press conference 
hall overflowing with hibiscus flowers 
and ringed with foe flags of participating 
nations. Foreign envoys, some in native 
Arab or African dress, sat in a semicircle 
facing foe dais and several large video 
screens. 

Despite the broad cross-section of 
participants. Ayatollah Khamenei made 
no effort to temper his hard-line views, 
bteming foe West for most of the ills’ 
afflicting the Muslim world. 

“Hie Western materialistic civiliza- 
tion is directing everyone toward ma- 
teriality, while money, gluttony and car- 
nal desires are matte the greatest 
aspirations," he said. “As in foe past, 
today Islam is the only remedial, cur- 
ative and savior angel.” 


“Thatcher embraced economic 
change and modernity,” he said, “but to 
keep foe nation in check, she asserted the 
old constitutional arrangements and an 
old Victorian cultural identity. The ten- 
sions became clear.” 

Struggling for expression, he said 
was a different Britain, one with more 
ethnic and racial diversity, more open 
with its emotions and less defined by the 
class structure of the past Diana’s death 
crystallized these changes, in effect de- 
fining a new Britain that had been taking 
shape for some time. “It told us 
something about where we were, and, in 
doing so, it changed the country,” Mr. 


Jacques said. “It told us we were dif- 
ferent.” 


portions! voting system that could per- 
manentty alter the balance of power 
Equally impotent in redefining Bn- among foe major political parties. There 
n are the constitutional and political also is widespread support for enactment 

of a bill of rights and a freedom of 


tain 

reforms began by Mr. Blair’s govern- 
ment, which could do as much to alter 
the face of Britain as Mrs. Thatcher's 
reforms did in foe 1980s. 

The agenda includes devolving power 
to foe disparate entities that make up foe 
United Kingdom, from Scotland and 
Wales to Northern I reland and possibly 
foe regions of England itself. It also 
envisions potentially significant 
changes in the House of Lords to reduce 
its hereditary power and a new pro- 


information act 

The year 1997 also may be re- 
membered as the year Britain embarked 
on a new relationship with its European 
partners, another sharp contrast with 
Mrs. Thatcher and die Conservatives, 
who went in the opposite direction. Mr.’ 

Blair’s embrace has been cautious — “Thev . ■ 

more rhetorical than actual — but he is nificanr- h ■ m S someth: 
working ,o comem JgS, ,S “T * 

era Europe’s other leading powers, hwd™ " y of whaI 


France and Germany. On issues n 
from Europe to domestic policy 
ever, analysts such as Mr. St< 
Jones, the Cambridge historian, qu 
whether Mr. Blair will be bold or r 
enough to make good on these ct 
in foe making. 

I m loath to think he doesn'i 
any longer-term vision of what : 
Bntain could be, but there are d 
cerung signs that he doesn’t,” Mr 
man Jones said. 


for his contacts with the group’s leaders, 
said that the two statements reflected a 
deep crisis in the group. 

“Monday’s statement was issued by 
foe Osama Rushdi team,” Mr. Zayyat 
said. Mr. Rushdi, the group’s media of- 
ficial lives in foe Netherlands. “Tues- 
day's was issued by Refiaci Ahmed * 
Taha,” he continued, referring to an * 
Islamic Group leader who is said to live 
in Afghanistan. 

A Western diplomat said (hat foe con- 
tradictory statements showed that foe 
group was clearly fragmented both in- 
side and outside Egypt. 

Analysts said that splinter units in 
Egypt could carry out even more violent 
attacks than the Luxor massacre. “One 
of foe consequences of an organization 's 
having splintered is that it is easier for 
groups to carry out operations at their 
own initiatives,” a diplomat said. 

Security sources said that Islamic 
Group units in foe south of Egypt were 
working independently of their political 
leadership in what foe sources described 
as “a military coup.” 


Nigerian Dissident 
Dies in Custody 

The Associated Press 

LAGOS — A former vice president 
who was serving a 25-year prison term 
for allegedly plotting to overthrow the 
military junta was buried Tuesday after 
dying in custody, state radio reported. 

General Shehu Musa Yar’Adua, who 
was arrested in a March 1995 sweep 
along with scores of other activists, died 
Monday in a hospital in the western city 
of Ibadan. He was 54. 

Radio in Kaduna state, where Ibadan 
is located, did not give a cause of death, 
saying only that General Yar’Adua had 
been rushed to foe Ibadan hospital from 
bis jail cell for an undisclosed reason. 

General Yar’Adua, a charismatic 
politician, won the presidential primar- 
ies in 1989 — only to have foe elections 
canceled by foe military authorities. , 

He was one of more than 40 people 
seized in March 1995 after General Sani 
Abacha's government announced it had 
foiled a coup plot. A tribunal convicted 
General Yar’Adua of conspiring to over- 
throw General Abacha and sentenced 
him to death, but after international 
protests, foe sentence was reduced to 25 
years in prison. 


$ 





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BERNARDO BLATT. « al. 

J gM IH- 

MERRILL LYNCH. PIERCE, FENNER 
A SMITH INCORPORATED. « iL 

Deftndiwi 


Hon. Rueph A. G m aa w x y . Ir, USD J. 


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SUMMARY NOTICE OF CLASS ACTION. 

PROPOSED SETTLEMENT. AND SETTLEMENT HEARING 

TO: ALL PERSONS OR ENTTHES WHO PURCHASED SHARES OF THE MERRILL LYNCH SHORT- 
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INTERNATIONAL HERALD TRIBUNE, 
^WEDNESDAY, DECEMBER 10, 1997 
‘PAGE 12 


STAGE/ENTER TAJNMENT 


The Rebirth 
Of a Virtuoso : 
Perahia Is Back 


N 


By Anthony Tommasini 

Haw York Tunes Service weniback tO DOimal admty , 

recording some Mozart con- 

EWYORK — Murray Perahia certos with the Berlin Phil- 
is back in commission, very harmonic. But the antibiotic 


harmonic. But the antibiotic 
I ^1 busy and greatly relieved. For made me really sick, so I 
: A. ^ five years, Perahia, who turned stopped taking i l 1 didn't 
' 50 in April, was plagued by a finger complete my course.” 

• injury that threatened to end his career as Years of trouble fol- 

a pianist There were rumors of carpal lowed. The swelling re- 
tunnel syndrome, which he denied. Even turned, to the point that his 
'before the injury, some had begun to thumb was pulled out of 
-suggest that Perahia was drifting, that alignment He underwent 
'.’one of die most gifted pianists of his exploratory surgery. For a 
generation, esteemed for his elegance, brief period three years ago, 
"authority and sensitivity , was making ill- he could play satisfactorily, 
considered forays into virtuoso repertory Then the problem re- 

' urged on him by Vladimir Horowitz. tamed. Doctors finally de- 
Moreover. at a time of crisis in the tennined that a bone spur had 
-classical-music world, when the con- emerged, possibly a result of 
itinual replaying of the standard reper- an unrelated infection 16 year 
tory was making concert music seem operation in September 199 


underwent 


he could play satisfactorily. 

Then the problem re- 
turned. Doctors finally de- 



2-Lid Piano Hits Sour Note 


By Anthony Tommasini 

New York Tuna Service 


N EW YORK — The image of a 
gleaming ebony grand piano on 
a concert hall stage, its lid 
propped open by a thin black 
stick, is fixed m the mind of every clas- 
sical muse lover. But for the first time in 
a ceo any and a half, foe basic design of the 
piano Is bong challeng ed by a CUnOOS- 
to okirig, controversial and potentially 
transforming invention: the lower lid. 

The innovation is the brainchild of 
Daniel] Revenaugh, a 63-year-old pi- 
anist, conductor and sometime inventor 
in Berkeley, California. The lower lid 
designed by Revenaugh is attached to 
the rear underside of the piano and rests 
on the floor. Visually, it mirrors die 


artist's instrument represents an im- 
provement: the artist or a concert hall 
* administrator? 

Car negie Hall appears to be the only 
b^ii that has de man ded some sort of 



bidden at our nation's 
premiere concert hall,’* Re- 
venaugh said in a telephone in 
terview recently. 

If it catches on. the lower lid would 


[ran ■ r».i* llrf.N I ir. i I i.MH ihAi IJVUIV MW* ■ ^ _ , . - ' _» _ i- _i 

testing before allowing Revenaugh’s be the first significant adaptation of foe 
augmented piano to beplayed. The och- grand pianosir^the m^mjiOTof the 


kMA**** 

i tkfr«’< ,s 


augme nted piano io be played. The oth- 
ers have left the decision of choice of 
instrument with die artists, whether they 
could cite acoustic improvements or 
noL The Chamber Society of Lincoln 
Center even held a news conference two 


years ago to announce Sedan’s per- 
formance on the Revenaugh piano at 
Alice Tally Hall. 

“I really think the lid is kind of fun,” 
said Sedan, a pianist esteemed fix' his 


cast-iron inner frame in 1825; it made 
possible the use of thicker metal strings 
that could produce more sound than the 
thinner nwral strings that had been stan- 
dard for inner frames made of wood. 

The idea of Revenaugh’s invention is 
so simple it is surprising that no one had 




thought to try it before. The piano is like 
a big iron-framed harp. laid on its side, 


traditional upper lid, and serves the r ~ l 77 
same purpose: to capture and project refused to CULOW trie 

cATmrl nntisranf ** 


Carnegie Hall has 


ringed by a wood case, but open on top. fcl 
When the hammers strike the strings, die \ 
snnnd nroduced is collected by the 


sound outward. 


uuu uuiwara. . . • l 

Leading pianists, including Andre instrument in r€CltalS . 
arts, Peter Sedan and Martha Argerich ■ 


projected outward toward me autMcutc, 
The underside of lhe piano is also 
open, except for some wood crossbeams. 
Revenaugh ’s lower lid is intended to col- 


Mnc OcflaTThr New YaikUma 

“For a while I was in despair,” Perahia says. 


an unrelated infection 16 years earlier. An 
operation in September 1996 fixed the 


dusty and irrelevant to many, Perahia problem, though for months af te rw ar d, he 


-was an unapologetic traditionalist 
But be has recovered in more ways 
■than one. Doubts about his pianistic 
health were largely quashed by a well- 
received recital at Carnegie Hall last 
April. Any lingering doubts should be 
'cleared up by his larest Sony recording, in 
which he plays Schumann's “Kreisleri- 


was cautious about what he performed. 

“The worst time was after that nine- 
month period of playing, when die prob- 
lem seemed to be coming back for good,” 
be said. ‘‘Luckily, I bad my family .” 

Early in his career, Perahia was pain- 
fully awkward on stage and in person. 
Julius Levine, a bassist and a renowned 


ana” and Sonata No. 1 with impressive chamber-music coach, remembers him 


Leschctizky, who had studied with 
Czemy, who had studied with Beethoven. 
Horowitz was the consummate Russian 
Romantic virtuoso. But both, Perahia 
said, believed in expressive freedom. 

Perahia may have been the last to hear 
Horowitz play. On the night before he 
died, in 1989, Horowitz regaled the vis- 
iting Perahia with Liszt, including the 
■harmonically exploratory variations on 
the Bach theme “Weinen. Klagen, Sor- 


command, color and spontaneity. 

Perahia will end an extensive Amer- 
ican recital tour next Sunday at Avery 


as one of “three outstanding young pi- 
anists of the day” at the Marlboro Fes- 
tival in Vermont daring the late 1960s, 


gen, Zagen.” He played exquisitely, 
Perahia said, then closed die piano lid. 


Fisher HalL Getting back on track has with Richard Goode and Peter Seririn. 


been an ordeal. 
“For a while 


was in despair. 


But Perahia was notably self-critical. 
“Yon know how most musicians 


Perahia, who was bom in die Bronx and can’t sleep the night before a big re- 


Perahia said, then closed the piano lid. 

“Enough for tonight,” Perahia 
quoted him as saying. * ‘You come back 
tomorrow. I want to talk with you about 
die Brahms B flat Concerto, which has 
always perplexed me. 1 have some ideas 
about the slow movement.” 


now lives in England, said recently at his 
Manhattan hotel. “Butin the end, it gave 
me a kind of inner strength that I prob- 


cital?” Levine asked. “Murray 
wouldn’t sleep the night after a big re- 
cital. It was not a pose. Yet he had a 


ably would not have had without the matter-of-fact 


ice in his abil- 


setback. They say that suffering brings ities. He didn't make a big deal of it, but 


T HE next morning, Perahia got a 
call from Horowitz’s house- 
keeper reporting that the maes- 
tro was ifl. When be arrived by 
cab Horowitz was already dead. 


growth, but going through it, you don't he didn’t doubt iL” 


feel that way.” 

- The injury started with an innocuous 


paper cut on his right thumb in 1991. 
Perahia was recording Schubert’s “ Win- 


Perahia was recording Schubert’s “ Win- 
terreise” with the baritone Dietrich 
Fischer-Dieskau in Berlin. When he ig- 
nored the cut, his thumb swelled badly. 

“The doctor told me it was infected 
and gave me antibiotics,’ ’ he said. “With- 


His mentors include diametric oppos- 
ites. After finishin g ^ program in con- 
ducting and composition at the Mannes 
School of Music, Perahia took private 
lessons from the Polish-bom pianist 
Mieczyslaw Horszowski. Thai, in the 
1980s, he befriended Horowitz. 

Horszowski was a link to the great 
Classical tradition; he had studied with 


Watts, Peter Seririn and Martha Argerich 
have' pei formed at major concert halls 
nsing a piano with a lower lid, which 
Watts «i ilftri a “wonderful advance and 
improvement to the piano sound.” 

When Sedan first heard Revenaugh 
demonstrate his lower lid on a piano at 
Lincoln Center here; he thought the in- 
ventor was cheating. “I thought he was 
playing with more sound on die piano 
when the lid was in place. But he wasn’t. 
The difference was remaricable.” 

Yet though they all wanted to, none of 
these artists woe able to use the ad- 
ditional lower lid. at Carnegie Hail, 
whose administrators have refused, so 
far, to allow iL “The piano has developed 
over time; maybe it’s time for the piano 
to develop again,” observed Judith Ar- 
ran, the executive and artistic director of 
Carnegie HalL But she added, “I am not 
going to let a new invention come into 
this hall for one of our presentations 
before it has been properly tested.” 

Whatever the certifiable merits of 
the lower lid, Carnegie Hall’s policy 
raises a much larger question or who 
determines whether an adaptation to an 


intelligence and sense of musical ad- 
venture. “I truly feel it has value. So 
why can't I use it?” 

Some who have heard a piano with a 
lower lid in demonstration have not been 
as struck by foe results as Seririn. Harold 
Schonberg, foe former chief music critic 
of The New York Times, who was ax 
Carnegie Hall in the fall of 1994 on one of 
the two occasions when Revenaugh was 
given permission to informally demon- 
strate his lid there, reports that he could 
not really tell foe difference. “I thought 
foe effect might be psychological,” he 
said. “A lot of what people hear has to do 
with psychoacoustics: Do you hear a 
difference because you want to? Of 
course, it’s impossible to know what it 
sounds like to me pianist playing.” 

But regardless of the lid’s effective- 
ness, the Carnegie Hall policy has af- 
fected the ability of Revenaugh to pro- 
mote his invention, for which he holds 
the patent “No important' piano man- 
ufacturer is going to align themselves 
with a product foe use of which is for- 


led, focus and project the sound that 
normally sets diffused u nder the piano. 


normally gets diffused under the piano. 

As a musician, Revenaugh may be 
best known for conducting the Royal 
Philhar monic Orchestra on the land- 
mark first recording of the Busoni Piano 
Concerto with John Ogdon as soloist in 
1968. But inventing things has been 
another interest, and same of his in- 
ventions are eccentric, like the calking 
pill, a dissolving tablet that makes foe 
sounds of words when it is dropped into 
water. “It's son of a cross between 
Alka- Seltzer and ‘Mission Im- 
possible,’ ” Revenaugh said. 

The lower lid, however, say pianists 
who advocate it, is a perfectly sensible 
innovation. The lid is made, essentially, 
of carbon graphite, which is a material 
that came from research for the space 


program and which Revenaugh says re- 
flects sound better than wood. A carbon 
graphite lid is also lighter, only II 
pounds (5 kilograms), as opposed to the 
wood lid’s 42 pounds. But it is ex- 
pensive: about $3,000, though that cost 
could come down significantly if a man- 
ufacturer were to get involved. 


Perahia acknowledges that he was TT f f I V j I ll • 

Hard limes Lome to Jiisinore 


itz’s repertory. But working an Liszt and 
Rachmaninoff with Horowitz, he adds, 
was a great experience, winch enriched 
him as an artist “If you want to be more 
than a virtuoso, first be a virtuoso,” 
Horowitz told him, he said. “I decided I 
would do that I don’t regret it” 


Mak 'Vieldt* 


BOOKS: CRITIC’S CHOICE 


L ONDON — We all know the 
economic struggles of the Roy- 
al Shakespeare Company, but 
this is getting ridiculous; a new 
Barbican “Hamlet” with no Fortin- 
bras, no Bernardo, no Marcellus, only 
one Gravedigger and real-life “Citizens 
of London” brought in at presumably 
nonunion rates to flesh out a myster- 
iously empty court. At this rate we shall 
soon be getting “The One Gentleman of 
Verona” and “Prince Lear,” but I note 
the company is making no correspond- 
ing reduction in its ticketing pices. 

So what, apart from the cats (which 
bring foe show in at three hours rather 
than foe usual four), does Matthew 


By Sheridan Morley 

International Herald THbune 


By Jonathan Yardley 

_ Washington Post Service 


W ASHINGTON — The 
drill come foe holidays 


VY drill come foe holidays 
is to scroll through the year’s 
'reviews, fetch out those 
. books that I admired foe most, 
•and offer a brief greatest hits 
‘ list for readers who find such 
•things useful in foe shopping 
'season. But before dischar- 


Katfaari ne Graham, the chair- 
man of foe board of The 
Washington Post Co. I began 
to read it out of a sense of 
obligation, but read through to 
foe end because its author left 
me little choice. Most mem- 
oirs by men and women who 
have achieved statesmanlike 
eminence are dry, aloof and 
self-congratulatory. This one, 
though reticent at moments 


fiction: “The Actual,” by 
Saul Bellow; “In the Deep 
Midwinter,’ ' by Robert Clark; 
“Nashville 1864: The Dying 
of the Light” by Madison 
Jones; “Publish and Perish: 
Three Tales of Tenure and 
Terror,'’ by James Hynes; “A 


Spanish Lover,” by Joanna 
Trollope: and “The Universal 


■ging this pleasant obligation, when ir is appropriate to be so, 
■I would like to write four is introspective, self-critical, 


;I would like to write four is introspective, self-critical 
.paragraphs about four books revealing and surprisingly en- 


■ published in 1997 that for one 
reason or another I did not 


gaging . 

• No personal or profes- 
sional complications preven- 


• Rick Bragg, a Southern ted me from reviewing John 
correspondent for the New M. Bany’s “Rising Tide: 


Trollope; and “The Universal 
Donor,” by Craig’Nova. I re- 
commend all with enthusiasm. 
I did not review foe muefa- 
Aft discussed new novels by Don 
DeLillo, Thomas Pynchon and 
^ ^ Philip Roth, having developed 

NkobeAnwurr over the years a lack of sym- 
pathy fix their work that 
but J. Anthony L okas’ s “Big would render any judgment of 


context; by cutting Fortinbras and the 
whole world beyond Elsinore, we lose 
all perspective on this alter-ego figure, 
all action and power where Hamlet is all 
indecision and weakness. You might as 
well have Hal with no Hotspur tonghtin 
“HemylV.” 

What’s more, the cast seems, in foe 
move from Stratford to London, to have 
lost all faith in whatever the original 
concept may have been. Alex Jennings 
races around the stage with guns and 
flashbulbs as if auditioning for the 
Tarantino remake, Susannah York as 


LONDON THEATER 


York Times, is a son of foe 
hard scrabble Alabama coun- 
tryside. and he writes the way 
people in that part of the 


The Great Mississippi Flood 
of 1927 and How It Changed 
America.” I just flat-out 
missed iL The loss was mine. 


world talk. This will be a This is a big, ambitious, per- 
problem for some urban ceptive and original examin- 


Trouble” is precisely that, a 
book so big and all-encom- 
passing that it confounds de- 
scription. It is also a book 
about which I cannot hope 


times silence 


ickm. Some- 
ly is golden. 


A S for nonfiction, fully a 
dozen titles of 1997 


Warchus’s new production have to of- 
fer? Modem dress for a start; the prince 
wanders around the party celebrating 
Claudius’s all-too-rapid wedding to 
Hamlet’s mother with a camera taking 
mug shots of the guests, and by the tune 
it comes for Polonius to die he does so 
by foe bullet rather than foe sword. 


From foe opening and closing home 
ovies of Hamlet's happy childhood 


sophisticates who pick up his 
memoir, “All Over but foe 
Shoutin’,” but they are 
herein advised to stick with iL 
As James Conaway noted in 
his perceptive, nuanced re- 
view for The Washington 
Post Book World; Bragg's 


ation of a momentous event 
now forgotten by almost 
everyone except those who 
know Randy Newman’s 
lovely song’ “Louisiana 
1927” — and most of them 
probably don't know what the 
song is really abouL The Mis- 


to be totally objective. Tony sailed through here un- 
Lukas was my dear friend scathed. In alphabetical order 


and his self-inflicted death in as above, they are: “Burning 
June of this year was one of the Days: Recollections,” by 


the greatest losses I have James Salter; “Doo-Dah: 
suffered. But I have read Stephen Foster and the Riseof 


“Big Trouble” twice, and American Popular Culture.” 
have enough distance from it by Ken Emerson; “The His- 


prose is a strategic device that sissippi flood of that year, as 
pays rich dividends, for it per- Barry conclusively demon- 


to be able to say, with absolute tory of Jazz,” by Ted Gioia; 
confidence, that it comes “Last Days in Cloud Cuckoo- 


mits him to tell his remark- strates, wasn't just a natural 
able story — and foe even calamity, it was also (figur- 


closer than anything since land: Dispatches from White 
John Dos Passos’. “U.SA.” Africa,” by Graham Boyn- 


more remarkable story of his atively as well as literally) a 
mother — in a deeply mov- watershed in American his- 


to getting this country into a ton; “Literature Lost Social 
single book; and “U.SA..” Agendas and foe Corruption 


single book; and “U.SA.," 
of course, is actually a trilogy. 


Agendas and the Corruption 
of the Humanities.” by John 


ing, believable fashion. 

• For reasons that surely 
need no elaboration. I could 
not review .“Personal His- 


tory, one after which neither 
foe South nor foe country was 
ever the same. 

• It's hard to imagine abig- 


"Big Trouble” is the story of M. Ellis; “Loitering With In- 
foe murder of a framer gov- tent The Apprentice,” by 


eraor. of Idaho at the turn of Peter O’Toole; “Mutual Con- 
foe century and the astonish- tempt Lyndon Johnson, 


tory,” the autobiography of ger book than “Rising Tide,” 


ing ripple effect that followed Robert Kennedy and the Feud 
iL drawing labor and capital That Shaped a Decade,” by 


BEST SELLERS 


into a raw confrontation and Jeff Shesol; “My Name Es- 
exposing foe full extent to capes Me: The Diary of a Re- 


which Americans are divided tiring Actor.” by Sir Alec 
by class. It is a dark book, with Guinness; ‘The Only Way I 


movies of Hamlet’s happy childhood 
through to the kind of “goodnight sweet 
prince” ending once much favored by 
old Edwardian actor-managers who 
didn’t want some upstart Fortinbras ru- 
ining their big death scene, Warchus has 
cut, rearranged and sometimes just 
messed up the text All occasions do not 
inform against this Hamlet, for the 
simple reason that this great soliloquy 
has disappeared altogether, unlike most 
of die others, which just suffer severe 
internal cuts. 

Warchus has, I sospecL seen rather 
too many of foe Shakespearean movies 
that have lately been pouring out of 
Hollywood and elsewhere. But whereas 
Sam Mendes’s recent “Othello” at foe 
National was a b rillian t attempt to con- 
vert the closet style of Orson Welles to a 
staging that still managed neither to lose 
nor to betray any of foe original texi this 
“Hamlet” seems gimmicky and barren 
of any real emotion. Not is there much 



Alex Jennings in “Hamlet.’ 


Gertrude seems to draw back from foe 
proceedings as far as she decently and 
understandably can, and foe rest of the 
cast is, as usual with the RSC these days, 
more of an undercast 

So there is no engagement here, no 
involvement; instead of persuading local 
citizens to swell out their ranks, foe 
company would do well to recruit a few 
professional actors who can handle the 
verse with at least some of foe authority 
so lack i n g in a frenetic but ramshackle 
gallop through foe text Only Edward 
Pethecbridge, doubling the Player King 
with a cocktail-party Ghost, seems to 
have any real command of foe tragedy. 


The irony is that Shakespeare becomes 
most relevant to our times when, as in the 
recent close-up Ian Holm “King Lear” 
at foe National, we get to hear the whole 
text with all its subtleties and contra- 
dictions and psychological insights. 
Here we get caricatures rather than char- 
acters, and an already diffuse plot be- 
comes largely incomprehensible when 
taken at this pace. 

At foe Hampstead. Stephen 
Churchett’s “Heritage” has predict- 
ably been savaged for its old-fashioned 
virtues; this is a touching, elegiac play 
about an attempt to turn part of the 
gardens of the Chelsea Pensioners ’ Hos- 
pital in London into an underground car 
park and convention center, but 
Churchett uses that slender thread of plot 
to sketch in the family of one of the 
pensioners. There’s a gay son, a betrayed 
daughter, a wandering grandson. Three 
generations of one veteran soldier's fam- 
ily come together often reluctantly and - 
uneasily to watch foe old man die and 
with him part of his Chelsea heritage. 

There are some wonderful perfor- 
mances here, not least from George 
Cole as the old soldier unwilling to die 
and Tim Pigott-Smifo as his gay. weary 
son. To suggest that this is foe kind of 
script that would have looked good at 
the Haymarket in foe 1950s is not ac- 
tually an insull rather a reaffirmation of 
foe old values of British domestic 
drama, where foe family that stays to- 
gether is also the one that slays together. 
Mark Rayment’s production is, like the 
play, subde, understated and infinitely 
touching in its weary acceptance of foe 
personal! and environmental destruction > 
wrought in the name of progress. m 

At Jermyn Street, there’s a two-char- 
acter cabaret called "It Takes Two” 
scarring Robert Mead more and Fiona 
Fullerton, survivors both of foe Richard 
Harris * ‘Camelot* ’ almost 20 years ago. 
They have considerable charm and 
strong, clear voices, but their Unking 
script is oddly shaky, and the show itself 
might look a lot better on board ship or 
anywhere you could sit at tables to eat 
and drink. All the same, it’s an elegant 
and civilized cabaret and there are all 
too few of those around at foe moment 
on either side of foe Atlantic. 


) M<h ri- ami 


(The New York Times 
TW* tin u based on reports from more 
Hun 2.000 bookstores throughout ibe 
United Stain. Weeks on list are not 
necessarily coosecmi ve. 

FICTION 


ntC DARK SIDE OF 
CAMELOT. by Scynwar M. 
Hash — — —— — M..M. 

4 CITIZEN SOLDIERS, by 


many villains and no heroes. Know,” by Cal Ripken Jr. 
and because Tony was foe with Mike Bryan; “ThePer- 
most assiduous researcher feet Storm,” by Sebastian 


CROSSWORD 


Stcnbai E. Ambrose - — .. 
5 INTO THIN AIR. by Km 

Kralcauer 

t THE PERFECT STORM, by 

" ■ — • - L-^_ 

. VTIrJ tin nlHW l 

7 THE MAN WHO 
LISTENS TO HORSES. 


Wk ■! 

1 COLD MOUNTAIN, by 

Outlet Fnaier-— 3 

2 THE GHOST, by Danielle 

Sled. 1 

3 CAT & MOUSE, by 

Charles ftaner 2 

4 ANOTHER arr. NOT MY 


imaginable, it takes numerous Junge; “Resident Alien: The 
sidetracks. Be patient, stick New York Diaries,” by 


with it, give it foe time it Quentin Crisp; and “South- 
needs. Like his previous em Cross: Be ginnings of the 


S i Monty Roberts 
I ANA: Her Tna 


book, “Common Ground," it Bible Bek,” by Christine 
is an American masterpiece, Leigh Heyiman. Again, en- 


DIANA: Her True Stay- 
In Her Own Wads, by 


and for those of us who i 


OWN, by Dnmi wefc Daw . 

5 THE LETTER, by Richard 

hoi Evans. 6 

6 VIOLIN, by Anne Rkx .. 4 

7 SURVIVAL OF THE 

FITTEST, by Jonathan 
KeUentun. 12 

S LUCKY YOU. by Cud 
Htaajcn S 

9 COME THE SHUNG. ty 

JrfeGvwood 9 

10 THE MATARESE 

COUNTDOWN. by 
Robert UxSnm 5 

11 COMANCHE MOON, by 

Larry McMintrv 10 

12 WOBEGON BOY. by 
Garrison Keillor 14 

13 THE GW OF SMALL 
THINGS by Amferi Roy II 

14 TIDINGS OF GREAT 


Andrew Morton. 

9 THE MILLIONAIRE NEXT 
DOOR, by TharaJ. Stanley 

and William Q Onto 

10 DIRTY JOKES 


and loved him, it is his ever- fra: alL 


thusiastic recommendations 


lasting monument. Twenty-two good books is 18 Fort of the arm 

Among foe books that I re- what we have here, a handful 17 
jwed this year, I greatly ad- of them downright wonder- 


ACROSS 

1 Mowing trie 
lawn, e.g. 
■Actor James 
10 Work hard 
14 Hammerin' 
Hank 

is Capital near the 
60th parallel 


viewed this year, I greatly ad- of them downright wonder- 
mired a half-dozen works of fuL Not a bad year’s work. 


WITH GOD: Book I. by 
Neale DonldWahcb 9 

12 TRUMP! The An cf Ac 
Cbmeback. By DnaU J. 

wiii Kjk Boboer — 

13 SOURCES CF STRENGTH, 


by AnwOor 

14 TUESDAYS WITH 

MORRE. by Mitch 
AJbom - II 

15 WAIT TILL NEXT 

YEAR, by Doris Kearns 
Goodwin 13 


Living in the U.S.? 


i »Vlso red cap 

ao Not just a 
barber 

ai Compromise 
one’s talents 
23 Some sweater 
necks 


25 Banishes 

26 1976 Aim about 
a Hunt brothers' 
venture? 

32 Harvard, Yale, 
Brown, etc. 

33 South African 
currency 

»4 tree 

37 Bryan defaater. - 
1908 

3B Downpours 

40 ’Don't dawdler 

41 Mariner's dir. 

42 Aquarium 

43 Any song your 
parents Kke 

44 1878 film about 
WaH Street 
pessimists, with 
The’? 


47 White elephant 
events 

so Charlotte and 
others 
aiGlmcrack 
■4 Causing fear 
and trembling 

H "Diary oT 

Housewife’ 

80 1931 film about 
a stockbroker's 
telephone? 
as Zero 
«3 Ring 

04 Assistant who 
handles letters 
as Alum 
aa Blue chip, 
maybe 

w Tricky curves 


JO Y. by Sandra Brown— 13 
ALL I NEED IS YOU. by 


15 ALL I NEED IS YOU. by 
Johan Lindsey 


NONFICTION 

1 MIDNIGHT IN THE 

GARDEN OF GOOD 
AND EVIL by John 
Berendl.— 

2 ANGELA'S ASHES, by 

Frank McCain. 


ADVICE. HOW-TO 
AND MISCELLANEOUS 

1 JOY OF COOKING, by 

Iran S. Romfaaxr, Marin 
Rotnbavcr Becker and 
Ethan Becker™., I 

2 SIMPLE ABUNDANCE. 

by Satah Baa BnaUndl-. 2 

3 MAKING FACES, fcy Kwyn 

Auxn. 3 

4 MEN ARE FROM MARS. 
WOMB* ARE FROM 
VHJUS, by John Gay — 


Now printed in New York 
for same day 
delivery in key cities. 

To subscribe, call 

1 - 800-882 2884 


Solution to Puzzle of Dec. 9 


wmewnoNAL 


THE WOSUTS DAliy NEWSFAPER 


□000 GH0H annual 
mnna samas 
□nan anna dunna 
BBQsaaaoaaaaH 
□□h Htnaeiaa 
□HH □□□□□□□ nag 
□□□0E3 oaoa saaa 
HmnnnEaEnagtagnn 
HBHQ Q0HH □□□□□ 

□he HEnaatua hue 

SDEQEQ aniD 
□DEiQQaanciHaaa 
□□□□a aaao aaan 
shcibq nnaa aaaH 
HuaBa eeeg] ansa 


1 Members of a 
yellow Reet 
a — monde 
(high society) 
3 Parte airport 
4 Members’ list 

$Curfy-edged 

salad 

ingredients . 

■ Conqueror of 
Mexico 
7 n'sawaste 
• Cry for what 
might have 

been 

sl dJtaro d 

destination 

10 Eskimo boot 

11 Bread spreads 


is Type, as 
computer data 
13 Milks: Fr. 
it One needing 
rehab 
22 Truckful 
34 Shutdown 
participant 
as Spot 

27 Wall Street's 
Boesky 

2 a it's often toasted 

2»Nov. honoree 
ao Headed 
3i Half-inch stripe 
wearer. Abbr. 

34 Crop overseer. 

for short 
33 Brace 
30 Jungle 
creatures 
30 ’Far out’ 

38 — -Arbor 
40 Bass, e.g. 

42 A real piece of 
work 

43 Witness 

44 Like some 
knees 

48 Penguin's walk 
40 Bone-dry 
47 Actor Arnold 
4e Slings and 
arrows repeiler 

4t Climbing vine 
ox Ken of the 
comics 

33 High-tech suffix 
ss Lab shouts 
98 British school 
officials 





AOb tay JoaMiMi SoiMtabMfi 


©Nw York Times/Edited by Will Shorts. 


37 Bald eagle's 
cousin 

MGenetlcist'fl 

studies 

*1 Cockpit abbr. 





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BUSINESS/FINANCE 



ECOAS PACE PttNTU FJ-I TOO 


WEDNESDAY, DECEMBER 10, 1997 


PAGE 13 


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i : 



MEDIA MARKETS 


Art Overseas Match Driven by Costs: 
NBC and Dow Jones Merge Services 


By Tom Buerkle 

International Herald Tribune 


LONDON — Id a deal that imitates 
the business world's growing love af- 
fair with mergers on a global scale, the 
American television network NBC and 
Dow Jones & Co., publisher of The 
Wall Street Journal, agreed Tuesday to 
merge their non-U.S. television in- 
terests and cooperate on financial news 
at home. 

The two companies will combine 
their unprofitable business television 
channels in Europe and Asia and mar- 
ket their new service muter a single 
brand name around the world: CNBC: 
A service of NBC and Dow Jones. 

In die United States, The Wall Street 
Journal and Dow Jones Newswires will 
provide broadcast material for CNBC 
and the Journal’s Internet edition will 
establish links with MSNBC, the In- 
ternet news venture of NBC and Mi- 
crosoft 

The recent spread of financial in- 
stability across Asia and the ramifi- 
cations of Europe's move toward a 
single currency are just two of die 
more-obvious examples of how re- 
gional business developments can 
have repercussions around the globe, 
said Philip Revzin, editor and pub- 
lisher of The Wall Street Journal 
Europe. 

“Advertisers increasingly want 
one-stop shopping, they want multi- 
media,’' Mr. Revzin said. “We can 
now give them all that'’ 

But the deal also says a lot about the 
high cost of competing globally in a 


television market full of ambitious 
players. CNN International is increas- 
ing its business coverage and 
Bloomberg Television is ex panding its 
penetration of non-American markets, 
tor example. 

Dow Jones reported a loss of $48 
million on its television activities in 
1996, and expects to post a similar loss 
this year. 

NBC, a unit of General Electric Co., 
reportedly is losing about $25 million 
in Asia and $15 million in Europe this 
year. 

By teaming up. NBC and Dow Jones 
believe they can slash their respective 
losses and move into profit in two to 
three years' time. 

Eamonn Store, international a ccount 
director ar the advertising-purchasing 
agency Carat International, said the new 
European and Asian television channels 
would be more attractive if they can 
successfully biend the partners’ styles. 

CNBC's European and Asian chan- 
nels have used a hard-news formula 
eared toward professionals while 
w Jones ’ European Business News 
and Asian Business News channels 
have relied on more feature-oriented 
programming. 'Potentially you have 
something that’s more acceptable,” 
Mr. Store said But, be added, “they 
are still going to have questionable 
distribution in Europe.” 

The new CNBC service will reach 
1 5 million homes via cable and satellite 
in Europe, with an additional 50 mil- 
lion homes receiving excerpts broad- 
cast on NBC’s Super Channel 

By contrast, CNN International 


gea 

Do 


claims to reach 66 million homes in 
Europe and Bloomberg Television 
puts its market at 37 million. 

In Asia, CNBC says it will reach 9 
million homes full time and 30 million 
part time. 

[CNBC does not expect the new 
television .venture in Asia to be prof- 
itable until 1999 at the earliest, Reuters 
reported from Hong Kong. CNBC said 
it would close its Hong Kong oper- 
ations and move its headquarters to 
Singapore, resulting in layoffs of 150 
people in Hong Kong and 56 in London 
and New York. 

[“In 1999 and beyond, we should 
have some savings,” said Karen Elliott 
House, the president of Dow Johes & 
Co. International Group.] 

Allan Harfick, chief executive of 
CNBC and NBC Europe, said the com- 
pany's first task would be tot 
channel’s »mtienw 

He said CNBC aimed to «pand its 
penetration into brokerage offices and 
securities dealers’ desk tops, a hard-to- 
measure but still influential market. 

The new venture dealt a blow to The 
Financial Times, the UJK.-based busi- 
ness newspaper that competes with the 
Wall Street Journal. It has built its ex- 
pansion into television around CNBC, 
supplying the c hannel with more than 
seven hours of p rogramming a day. 
With its main outlet about to pass into 
the hands of its competitor, the paper is 
in discussions with other broadcasters 
about possible business television ven- 
tures in Britain and international mar- 
kets, said Cohn Chapman, chief ex- 
ecutive of Financial limes Television. 


f be to expand the 


Kodak Wields Law on Trade Secrets 


By Mike Mills 

Wuhutgron Pva Service 


WASHINGTON — To any company 
that vigorously protects its trade secrets, 
Harold Worden would be the Retired 
Employee From Hell 
After a 28-year engineering career at 
Eastman Kodak Co., Mr. Worden retired 
in 1992 to start his own consulting com- 
pany. But Kodak contends he sold more 
than his personal expertise and engi- 
neering skills. From 1993 to 1996, the 
company asserts, Mr. Worden handed 
over Kodak’s most coveted trade secrets 
to his consulting firm’s clients, who 
happened to be Kodak competitors. 

In August he pleaded guilty to one 
count of peddling stolen Kodak doc- 
uments across state lines and in February 
begins a one-year prison sentence. 

Kodak decided that wasn’t enough. 
Last week it sued Minnesota Mining & 
Manufacturing Co. — a key competitor 
and Mr. Warden’s biggest customer — 
for unspecified damages, along with a 
3M subsidiary in Italy and Imation 
Cotp., which bought some of 3M’s film- 
making assets 18 months ago. 

Kodak says 3M and Imation violated 
federal racketeering laws by stealing, 
through Mr. Worden, confidential de- 
tails of Kodak film processes, including 
blueprints for a huge device called the 
“401 machine” that makes core film 



Bfll OlJMjflW PM 

George Fisher, the CEO of Kodak, 
which is suing over trade secrets. 

material less expensively and with few- 
er polluting .emissions than before. Ac- 
cording to Kodak’s suit, 3M provided 
Mr. Worden with “a ready, ‘no ques- 
tions asked* market for stolen Kodak 
intellectual property.’ ’ 

Officials at 3M, Imation and Kodak 
would not comment on the case, and 
only Kodak made an executive avail- 
able to be interviewed for this article. 
Days before Kodak filed its suit, 3M 
asked a judge in Italy to declare that die 
company had done nothing wrong. 
Experts in trade-secrets law said the 


civil case against 3M and Imation raises 
serious questions that affect most every 
type of business: How far can a con- 
sultant legally go when advising clients, 
without revealing confidential informa- 
tion about his former employer? And 
how liable is the client that buys the 
expertise of an outside consultant, if foal 
consultant conveys information pur- 
loined from a previous employer? 

Those questions take on new res- 
onance in today's information-based 
economy. Corporate spies had to work 
harder in the old days, spending nights 
aithe copy machine and smuggling doc- 
uments past security guards. Now any 
employee can give away the company 
store merely by hitting the “send’* key 
on a desktop computer. 

“We’re creating valuable information 
much faster with the computer revolution 
than we ever did before, and foe ease with 
which theft can occur is much greater 
now,” said Made Halligan, a lawyer who 
specializes in trade secrets law. 

Lawsuits alleging theft of trade 
secrets have risen dramatically in recent 
years, fueled mostly by a 1996 law that 
imposes steep penalties for “economic 
espionage” committed here or abroad. 
There were only 18 lawsuits filed and 
four mentions of the phrase “trade 
secrets” in foe Nexis electronic data 

See KODAK, Page 20 




Philip Morris and Hasbro Cut 2,500 Jobs Each 


fn- Oor Sitf f"** i>apfxhn 

NEW YORK — Philip Morris Cos. 
and Hasbro Inc. announced separate re- 
structuring plans Tuesday that ' wrn re- 
sult in a combined loss of 5,000 jobs. 

Philip Morris said it would overhaul 
its lagging international food unit by 
cutting 2300 workers, closing plants 
and selling businesses, resulting ma 
$630 million charge against fouitb- 
quaiter earnings. 

Hasbro said ii would cut about 2^00 
jobs, which amounts to 20 paoern of ns 
work force, close at least one factory and 
leave some toy markets. The restruc- 
turing will cut fourth-quarter earnmgs 
by $140 million before taxes, « said. 


Philip Morris would not specify which 
businesses would be affected by its 
moves but said foe cutbacks would save 
$200 million a year by 2000. In foe third 
quarter, profit from international food 
^ 2 1 pacent to $260 million, making it 
the only unit to see its profit falL 
The company said it planned to re- 
invest the savings from the restructur- 
ing. International food accounts for 
about 17 percent of Philip Morris’s 
sales, but only 10 percent of its profit 
The 2^00 jobs amount to about 8 
percent of Philip Morris’s international 
rood work force and less than 2 percent 
of the 154,000 employees it had at the 
end of 1996. 


Philip Morris shares finished down 
31 .25 cents at $44.5625. 

Hasbro said its cutbacks should save 
foe company $350 million during the 
next five years, of which $40 million win 
be realized in 1998, the company said. 

Hasbro also said it would buy back np 
to $500 million worth of its stock over 
foe next two to three years. Its shares 
closed up $1.25 at $3 1.25. 

The cost-cutting moves are designed 
to make the’ company more competitive 
with rival Mattel Inc., which makes the 
ever-popular Barbie doll Hasbro ’s Star 
Wars and Batman action figures have 
been losing ground to computer and 
video games. (Bloomberg, AP) 



CURRENCY & INTEREST RATES 


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Oh, What a Feeling for France 

Toyota Confirms It Plans Factory in North That Will Create 2,000 Jobs 


By Susannah Patton 

Special to the Herald Tribune 


PARIS — Toyota Motor Carp, con- 
firmed Tuesday that it would build its 
second European factory in foe north of 
Prance, promising jobs to an industrial 
rust belt and cheering foe Socialist gov- 
ernment. 

After months of negotiations with foe 
government, Toyota said it would invest 
4 bilEon francs C$668.8 million) and cre- 
ate about 2^X30 jobs at a new plant in the 
northern city of Valenciennes. Toyota, 
which has a factory in Britain, said pro- 
duction in France of a new model of a 
compact car would start in three years. 

By coming to France, Toyota gains 
access to a highly trained work force as 
Europe prepares to launch a common 
currency in 1999. President Hiroshi Ok- 
uda said Tuesday that the company had 
selected France over other countries be- 
cause of its strategic location and po- 
tential for growth in market share. 

“Our policy is to locate production 
facilities where there is a market,” Mr. 
Okuda said, noting that Toyota aims to 
increase its market share in Prance to 3 
percent by 2000 from its current level of 
just under 1 percent The company said 
it aims to increase its European market 
share to 5 percent from 2.8 percent over 
foe same period. 

France won out over England, ana- 
lysts said, because Toyota was looking 
.for a foothold in the future euro zone, 
hi ghlighting the potential economic cost 

to Britain of its decision to remain out- 
side foe tinglfi currency at its launch. 

“Toyota’s choice of France is an 
endorsement of monetary union as a 
concept,” said Joanne Perez, an econ- 



Mkbd SpttgtafTho i 


Children from die Valenciennes area waving Japanese and French flags 
on Tuesday as they welcomed the president of Toyota, Hiroshi Okuda. 



NYT 


omist at Merrill Lynch & Co. in Paris. 

hi addition, analysts said Toyota 
likely chose Fiance to try to foster con- 
sumer loyalty in a country that has re- 
sisted Japanese importS- 

“If they want to build market share in 
France they have to produce there,” 
said Greg Melich of Morgan Stanley & 
Co. in London. 

The British trade and industry sec- 
retary, Margaret Beckett, told Agence 
France- Presse that she was “naturally 
disappointed.” 

“We worked hard to secure the proj- 
ect,” she said, “but Toyota’s decision 
was ultimately based on its wider Euro- 
pean business strategy and foe need to 
develop its presence in new markets.” 

Toyota’s choice came despite foe 
French government’s proposal to cut foe 
legal workweek to 35 boms from 39 
hours by 2000 to reduce unemployment 
Toyota skirted the issue Tuesday, 
saying it was ready to comply with 
Fteoch labor laws and had already cal- 
culated foe impact of a shortened work- 
week on its future profitability. 

“The debate over the 35-hour week 
couldn’t help bnt stir passions in foe 
country,” Mr. Okuda said. “But oar 
policy is to conform in whatever country 
weareproduring. ft was not an iaqxarrant 
criteria in our production strategy.” 

French o fficials said Toyota’s arrival 
would help the France’s 125 percent 
jobless rate. But analysts were skeptical 


“The job creation is significant for 
that region of Ranee,” Ms. Perez said. 
“But on a national level, it addresses a 
small part of the problem. It remains to 
be seen if this is foe start of a new wave 
in foreign investment." 

The arrival of a major competitor in 
Europe threatens to weigh further on the 
saturated car market, analysts said. Car 
companies in Europe are able to produce 
20 percent to 30 percent more cars than 
they can sell. Renault's chairman, Louis 
Schweitzer, has warned that Toyota's 
gains in Europe will come at another 
carmaker’s expense. 

“The big losers here will be Peugeot, 
Renault, Fiat and Volkswagen,” Mr. 
Melich said. 

Confirmation of Toyota’s arrival 
comes just months after Renault, citing 
overcapacity, closed its factory in Vil- 
voorde, Belgium, a decision foot set off 
labor protests and criticism. 

French officials and Mr. Okuda de- 
clined to detail government subsidies or 
tax breaks used to lure Toyota to France. 
Bnt Industry Minister Christian Pieiret 
said subsidies would total less than 10 
percent of Toyota’s investment 

Toyota officials said they aimed to 
produce about 150,000 cars annually at 
the new plant. The company produced 
1 17.000 cars at its plant in Bumaston, 
England, last year, and plans to raise 
production capacity there to 220,000 
cars in 1998. 


Global Private Banlring 


Security is the main reason 

WHY SO MANY CLIENTS BANK 
WITH US. AND STAY WITH US. 



ItapmUe 

bJmlioHal BoiJ. of Nat r York 

S.A ■ C wiw 


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TorlJ lleaJquaHrn */ 
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!g| Republic National Bank of New York* 

Strength. Security. Service. 

New York • Ocncva * L*mJo" * IWflnj • Hoiml • IWi^> IliH ■ Kncwii Aim ■ liLnL • Copunhajicii • l-miito • Oilnbar ■ I'ucnwv. 

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MKMJIIitt FWf 


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* 









PAGE 14 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 10, 1997 


THE AMERICAS 




\l Investor’s America 



Wall Street Heeds Oracle of Asian Trouble q o ^ jj its 

Cm0HtvO*rSa4Fumt»mk* latest quarter had risen just 4 per- most horrendous words on Wall after the annpany »id third- atd ■ 7 rt T 

NEW YORK — Technology cent, well below analysts’ expec- Street,” said John Bogle, chair- fourth-quarter profit would be _£ \J m 






CanpMloOirSafiFmmObpwrkn 

' NEW YORK — Technology 
shares led die stock market lower 
Tuesday as a weak profit report 
from a leading software company 
aggravated fears about how well 
U.S. companies will wrather the 
economic turmoil in Asia. 

The Dow Jones industrial av- 
erage closed down 61.18 points at 
8,049.66, while declining issues 
outnumbered gaining ones by a 9- 
to-5 ratio on the New York Stock 
Exchange. 

The technology-laden Nasdaq 
composite index ended down 
30.97 at 1,62057 as investors 
bristled at earnings from Oracle. 

The data-base software com- 
pany, whose shares tumbled 97/16 
to 22 15/16 in record-setring 
volume of 169 millio n shares, said 
late Monday that profits for its 


latest quarter had risen just 4 per- 
cent, well below analysts’ expec- 
tations. Oracle attributed the 
weakness to die economic crisis in 
Asia and unfavorable exchange 


UJS. STOCKS 


rates, warning that those problems 
may continue to hurt earnings over 
the next six months. 

The news weighed down the 
technology sector, which has been 
battered repeatedly since late Oc- 
tober amid concerns about its con- 
siderable interests in Asia. Among 
bellwether technology stocks, 
IBM fell 216 to 1 10% as the Dow’s 
weakest component, while Intel 
tost 2 13/16 to 75%. Compaq Com- 
puter was rise most active issue on 
the Big Board, losing 2% to 63%. 

“/Below expectations' are the 


most horrendous words on Wall 
Street,” said John Bogle, chair- 
man of the Vanguard Group of 
Valley Forge, Pennsylvania. “If 
this persists, obviously it’s not a 
good sign, I don’t think anyone 
knows how big a problem it is.” 

Virtually every major Wall 
Street brokerage cut its investment 
raring for Oracle! 

In other nhoatriing earnings de- 
velopments, National Semicon- 
ductor fell 316 to 27% after the 
computer cbipmakex said orders 
slowed in the quarter to Nov. 23, 
even as pr ofi t more than tripled. 

Hilton Hotels warned that its ‘ 
fourth-quarter results would be be- 
low forecasts because of sluggish 
growth in its casino business. Its 
shares feLL 13/16. to 28 7/16. in 
active trading. 

Wyman-Gordon fell DA to 1916 


after the company said third- and 
fourth -quarter profit would • be 
denied by the temporary shutdown 
of a press at its Houston plant, 
which makes engine pans for the 
commercial aerospace industry. 

Mego Mortgage fell 214 to 4% 
after it said it would take a charge 
of up to $16 million because h had 
misjudged how quickly loans it 
holds would be paid off, 

Tele-Communications rose 2 to 
26% after the cable-television 
company said it expected to add 
more than 90,000 subscribers in 
the fourth quarter. 

The Treasury bond market re- 
bounded from losses Monday, 
with the price of the benchmark 
issue increasing 13/32 point, to 
100 5/32. The yield slipped to 6. 11 


arS&FKmBp*** 

NEW YORK — Gold prices fell 
to an 18-year low Tuesday as the 
U.S. dollar strengthened and con- 
cern persisted that central banks 
would announce they had sold 
some of their gold reserves. 

Argentina's central bank said 
last week that it had sold 124 tons of 
gold, the equivalent of about 5 per- 
cent of gold production 

from mining, and had invested the 


proceeds in U.S. Treasury bonds. In 
July, the Reserve Bank of Australia 
said it had sold about two-thirds of 
its gold reserves. 

TTie sales came at a time when 
gold is losing its status as the linch- 
pin of rite world’s financial system, 
with governments eager to invest in 
better-performing assets. At the 

same rime, the strong dollar is mak- 
ing gold more expensive for con- 
sumers buying in local currencies. 

“TTie strength of the dollar is just 
an extra reason, and it has had an 
impact on the bit of buying support 
we have seen,” said Kamal Naqvi, 
a precious-metals analyst at 
Macquarie Equities Ltd. in Lon- 
don. 

Finding virtually no . support 
bullion was fixed in London at 
$283.25 an ounce Tuesday, down 
$4.25 to die lowest level since Au- 
gust 1979. The gold price has 
dropped by nearly $90 an ounce this 
year as investors fled foe market 

In New York, gold for February 
delivery on foe Commodity Ex- 
change closed at $28450. down 
$5.10 from Monday. 

(Bloomberg. Reuters) 


percent from 6.13 percent. Mon- 
day. (AP, Bloomberg ) 




sl8SS»&a 

■ **:: r<r' — - 





Baby Boomers 9 Spree 

Biit, Overall, U.S. Workers Saving More 


Dollar Slips as Tokyo Taps Funds 


Very briefly: 


By Albert B. Crenshaw 

Washington Post Service 


• U5. Surgical Corp. has agreed to acquire Pfizer Inc.’s 
Valley lab electrosurgicai and ultrasound products division for 
$425 million. 


• News Corp. announced that Lachlan Murdoch, 26, had been 
chosen by his siblings as foe eventual successor to his father 
Rupert, 66, as chief executive of the media conglomerate. 

• The National Association of Purchasing Management 
said U.S. manufacturers expect the prices they pay for raw 
materials to rise by 0.6 percent next year. A survey by the group 


also said manufacturers expect their 1998 revenues to rise by 
7.8 percent, following a 7.2 percent increase this year. 


7.8 percent, following a 7.2 percent increase this year. 

• Legg Mason Inc. has agreed to buy Brandywine Asset 
Management Co. for about $136 million in stock, a move that 
would increase Us assets under management by 13 percent. 

• Nokia Group, foe Finnish telecommunicalions-equipmeat 
maker, has agreed to buy Ipsilon Networking Inc, a closely 
held maker of computer-networking products, for about $120 
million to expand its U.S. data-networiring business. 

• SnyderCommunteatious Inc. has acquired two pharma- 
ceutical contract-sales firms. Pennsylvania-based PharmFIex, 
and Rapid Deployment Group Ltd. of Britain, for a com- 
bined $585 million; foe purchase will increase foe company’s 
ability to provide sales and marketing support Bloomberg, AP 


WASHINGTON — Younger Americans and those 
nearing retirement age have stepped up their retirement 
saving, but baby boomers, foe giant population wave that 
began after World War II, are saving less, a survey 
indicates. 

Overall, U.S. workers are saving more, a trend that 
began in 1994. but none of foe three groups — foe so- 
called Generation X, foe baby boomers and those aged 52 
to retirement, sometimes dubbed builders — is saving 
enough, by four members* own estimates, to assure an 
adequate income in retirement. 

However, foe survey focused on personal saving done 
outside of any retirement plan provided by an employer. 
Recent strong performance by me stock market has helped 
many workers who have 401<k) or other tax-deferred 
savings plans. But 46 percent said they think their standard 
of living will be abour foe same after they stop working 


Bloomberg News 

NEW YORK — The dollar fell 
against foe yen Tuesday after the prime 
minister of Japan backed a plan to use 
government money to prop up foe na- 
tion’s struggling banks and securities 


companies. 

But foe dollar rose to a two-month 


assist foe financial industry, burdened by 
as much as $600 billion in bad loans. 

“There’s been some good yen buying 
on expectation Japan will adopt apian to 
save its ailing finan cial institutions,” 
said Tatsuya Enomoto, manager of for- 
eign exchange at Sumitomo Bank Ltd. 

The dollar fell to 129.735 yen in 4 


hig h against the Deutsche mari e after a PJVL trading from 130525 yen Monday. 

It rose to 1.7910 DM from 1.7897 DM, 


FOREIGN EXCHANGE to 5 9925 French fran^ from 5.9885 

: francs, but eased to 1.4535 Swiss francs 

report showed German unemployment from 1.4560 francs^ The pound rose to 


remained at a 
last month an 


st-World War D high 

On talk that Ger man 


officials were not bothered by foe dol- anese officials, including Fi 
lar’s strength. ister Hiroshi Mitsuzaka, hini 


$1.6515 from $1.6477. 

The yen was also bolstered as Jap- 
anese officials, including Finance Min- 
ister Hiroshi Mitsuzaka. hinted that they 


The yen gained after Ryutaro Ha- did not want the yen — down almost 11 
shimoto asked his Liberal Democratic percent against the doflar-so far this year 


Party to consider using $77 billion to — to fell mnch further. 


and a third expect it to decline in retirement, while oily 
one in five fed their standard of living will improve. 


AMEX 


NationsBank Sells Florida Sites 


Bloomberg News 

COLUMBUS, Ohio — Huntington Bancshares Inc. agreed 
Tuesday to buy 60 Florida branches of NationsBank Corp. for 
$523 million. 

The'acquisition will add $2.6 billion in deposits, $1.6 billion 
in loans and 212,000 customers, more than doubling the bank’s 
Florida deposits and branches. NationsBank, which agreed last 
month to buy Florida-based Barnett Banks Inc. for $14.6 
billion, is selling the branches to meet antitrust guidelines. 


one in five fed their standard of living will improve. 

The study was part of a series of “Workplace Pulse” 
surveys begun in 1992 and focusing on the retirement 
plans and needs of American worms. The surveys are 
sponsored by Colonial Life & Accident Insurance Co. and 
foe Employers Council on Flexible Compensation. 

Baby boomers may yet catch up. The leading edge of 
that group is just entering what historically have been 
Americans’ highest earning .years. And foe builders, in 
their 50s and 60s, are saving the most — $4,243 a year. 

Overall, Americans were saving an average of $203 a 
month fra- retirement in 1997, up 2 percent from $199 in 
1996. That means foe average worker is saving $2,436 a 
year toward retirement, but estimates that he or she ought 
to be setting aside $6,444, foe study showed. 

Generation Xexs were saving $1,714 this year, up from 
$1,455 in 1996, while foe builders’ $4,242 compared to 
$2^982 of last year. The boomers slipped 1 1 percent, to 
$2,242, from $2509. Including employer retirement plans, 
workers had an average of $61,872 saved for retirement. 


Tuesday's 4 PJf. Close 

The300 most haded stocks of tbe (toy, 
up to the do&g on WaD Street 
ThaAssodmtPmss. 


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225 1 
2.16 1 

1233 

1274 

JW« 1 

□n 99 1 

1159 1 

1172 1 

1J3 1 

142 1 

1159 

1172 

iti 

0217 Mi 

mnl 

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/ A- 



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V M Ik 

IN 4ft 4ft 

» to 
7*6 Tft 7ft 

164 2ft 2ft 

3 1? % 

iw ^ 

347 7ft M 

S iBL as 

IBS » 2 W 

f $ “ 

1 s ? 

i i sr s 


! I « 


9427 7ft n 
Mi M 
45A 

n a* 
is is i?v> 
na lift in 

I » \ 


4ft 4* 

L ? 

£ i 

14k -ft 

r * 

Ik *«k 

Ilk -ft 

I (Tft -ft 

h : 

V * 

m _ 

U* 3 

£ * 

7ft -ft 

7N 

I <« -ft 

45ft -4k 

Ift +4k 

in -ft 


t 5 


m tt m 
S m m 

® m, im 

4» 2ft 2ft 


m -ift 

Hi -V, 

15ft 4k 


Dividends 
C««POnr - Per Aart Rk Puy 
. IRREGULAR 

FranHnlMv . ^11 12-15 12-31 

EEuiope _ 4.16 12-16 12-23 

NewSA&IOoFd _ 15912-26 i.a 


Qmpofty 


Per Amt Roc Pay 
INITIAL 


- 1J9 12-26 1-9 World Fuel n 


AWB Pr operty _ .134 12-18 1229 

Qftzem NO BxTX _ 50 12-31 T-15 


ift ift 
■ ft 3ft 




£ 1 


9* mt 

X n 

3 sr 
& 3 

! 5 m 

in m 
5tft Silk 

a M % 
I tt 
ft ft 

4ft 4ft 

f ih 
* 


OS* +*i 

ft 

ft : 
i* A 

M -1ft 

mw -n 

s - 

1 3 
ft 

4ft 

-ft 


STOCK SPLIT 


Sssswar ■ S 

Beeser be 


REVHtSE STOCK SPUT 
SataMrtl far 10 nrwrf mm. 


INCREASED 

foJwiV* TfidTot M 55 12-15 12-31 


F*t Fed Bncp OH, 
IpscolKg 


O 57 12-19 1-2 

Q .125 3-10 3-31 
Q 56 12-23 1-6 


AmeriVest Prog 

ButtS-Saor GUj In 

CFXCgtp 

CdnhnpeiWBkg 

SB?" 

SSffiS- 

Green MtPwr 

RUCorp 

WlMOCo 


rx _ 50 12-31 1-15 

- .05 12-19 1-2 

REGULAR 

Q .1125 12-26 1-9 

» Q .11 1231 M5 

O JO 12-22 1-9 

Q .1013-15 12-29 
O .14 M3 3-6 
fi M 57 13-19 12-31 
Q 22 12-19 1-16 
9 Q 50 12-29 1-28 

R 8 JO M2 2-13 

Q .04 12-31 2-2 

Q .1012-15 12-31 1 
O .185 1-23 2-10 
Q 57512-17 12-31 
s .10 1-4 1-20 
0 JO 12-12 M 
O .15 12-31 1-15 
OJ97S M2 M6 
Q J3 1-5 1-30 


O 56 12-23 1-6 

0 .15 IMS 1-2 


ftMd b-^ptoat— it anoint u !, ‘ 

8-warttrt) , i aernfawno— y. 


* -ft 
Jft 4ft 
ISft 


UJS. Stock Tables Explained 




f * 


% r 
& »* 

It 


a 1 

t I 

I. i 


s 5 

y 


Solos Aqihbs oi* unoflldol.YeortyWohsond tows rwue»t» 1 ._ M j „ 

■ i- ifMttand oln oho to. h ■ annual rate of 


- (fettend {factored or paid In preceding" l? m!^!f T* — _' ln y M 15 wonttn- * 

d«tonrtton. g - attend in ^ 


M 


new fasoo In the part 52 woete. The ^ ^cctanflton. o ■ 

od- rwiddoy deWTp. m® start of timting. 


ft *5 


"W in Hr? flow W W«*S. The hlah^Mf m k. ; — ■ R- 

Od- neTKtoy deUwy. p- fn*ita, iRrWeHd.2^^,^ 

- doud-md mutual fund, r - cflvktend Pectored - Mc»«tfninQa ratio. « 

EJss^-sassaeSSSS?®® 


C£ 

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r* 


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^W 4 P.M. Close 

Nflttonwwe prices not inflecting lote trades dswhera. 


NYSE 


* 



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111. 10 ACM* Wa A, * aSm? S'* 

SU 7 ACM Qp <3 70 “ Tot a\L 'I NW - 

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KU 14%. ASA Ltd ijou : 

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310 rwitn? im -m 

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2S^ A s P4 ?S '.5 Vi 

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21 I2<S AMMb 
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m 115V AancMl 
741* 17 Acuaon 
2S« 1«6 AdnE* l.We 02 

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ssrassc 141 

12%. 7 Adwcot _ .. w . M. m. KU. 

1 ^ S ^ ■» 

57^ u V« AaniVkS AG 1 A 15 2s s^yli 50* SO* 

EdSt* ^ = «5 52i ?St 

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- -10462 2156 20V) 

■7 14 129 23 22V. 2214 

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4114 32 AdTnidl — 4615123 M2 401* jij* . U 

4011 704 ABAAJr _ 11 2947 3BU J76| 3BV. At 

S^IS* **"**" 42 U 14 332 iw£ 23V. 

SS iSt {SS35?' ■3gl-A«27B2a?25VlKU - 

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lg* A ttCtSA s 30 5 21 531 26» 25* 25V. ■#» 

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38%'^J Ab&) I57e 68 

1714 13M AlWrS 183 92 

IS 11*4 AJfVVrttC 1.40o 10.1 
m {&,■. ATTch 
3S4 191* AHGm s .48 1.7 14 

27^ 171* *7 IS 

93V. 545* Attate 


7037 3044 30V4 30V. -V. 

_ . 3303 25*4 25V» 2514 trt 

JO 12 16 2181 33». 33U 3314 +V4 

_ 19 592 191* 19V. 1914 +V4 
70 824 34 V. 34 34 -6* 

30 1265 37V. 3714 37V. V* 

- 143 IM 16*. 16V. -Vu 

- 1544 14V. 13V* MV> -V» 
19 5S5 59U 584* 599. +V. 

207 28 2771. Z7K A4 

377MSV4 5914 5W.+6* 
198 241. 23V. 23 V. -V. 

' 391* 38 V. 38W - 

“49*4-14 
93V. *11* 


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18 IS 6417I9H* 91*6 I 


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23 * nil Atapma .IB A - 3tl 226. 22*. 22*. At 

21 61% AMmGr _ 24 492 20H 2014. 20n A* 

45G 30*4 Ahunax - 13 507 32V* 32*. 32V. 

89*4 60*. Akwi 100 \A 17 B142 72LT 71 71*2 A. 

3 H 5 74 S {£» -5* - - 3273 28*1 27*1271* A* 

71* 1V.AIM4C _ .11220 2V. IV. 2 

479.31 AmbacFt J6 8 14 1233 441. 43%. 44V. .u 

26 I**; AmossAjK IaO 80 _ 531 » 19^ 20 

274 21U Amatsl A 15 13 123 22*. 22V. 22*. *V) 

64*i 4714 AmHK 50 1.1 36 3067 S4lt S3V. 53V. -V. 

266 .241. Afimc pi 2.13 81 ~ 117 26<* 761. 26*t +V» 

*11* 31 AmOnlSlC - -17733 871. 85V. B6V1 -1 

18V.1? AmWesI _ 14 6864 18%. 181. 181. -V. 

B1‘. ,314 AWcUW ... - 783 TV. 71* 7V4 6*. 

22* 25 AAnnupIT 231 88 „ 558 261* 26*4 36*4 .v* 

4PV.231. ABmknS .44 18 17 777 42*» 41%. 41%. - 1 . 

6U 31) AjnBknl _ 18 347 S. 5 sy. -V. 

25 . 18%.ABinnP ^2 32 14 352 20*. 1*1* 19V* -1* 

501* 391* AEP ?M 4.9 16 277B 49V4 49V. 49U *1* 

8714 511* AmEtp *0 1 0 2311043 aST 1 * 87V. B7V. .4* 

49>I 32** AftidGp 180 28 7 *08 38** 371* 38U ♦** 


56*.36<* AO 
36*i 24** AGCi 

20. AGnH , 

5*. 5 AmGvt 
6** b AG1P 

AHHPr 


1J0 2-6 33 4566 54% .53*. 53".-11. 


283 7.9 
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2.10 81 


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llJv.JWt Amine i .30 2 23 81S9HKU 104V. i«i* -iv» 
»*.19li AIPCti _ _ 1965 25 2JV* SS* ■»!» 


136 23%. 25%. 25%. - 

966 271 1 26*1 J7 
820 5*- . 51* 511 - 

963 ,6V. 6G 6la _ 
266 2*1. 2S 7 * 26 V. - 
241 24** 2414 249. -V. 


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614 51* AOI 
2619 lHl APodP 
26 16lt APfK 
52U Z5U AmSmfio 
1JU «* AREsI 
16% 17** APeiTTn 
78% 12 ARmJdS«c 
71** I4U AMtoTI _ -. 

11V.10H ASdP 0(11828 88 


_ 22 


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98 11. 11% 11 W - 
873 6** 6V. 6V. _ 

295 141. 131* 131* -T. 
118 21*. 211* 2T1& A. 
940 52 511* 51 H -V* 

210 9°. 9S. 9%. - 

658 13% 13 131* -V. 

860 14V. 14 141. 64* 


» **t23r 


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- 514 11%. 11*. 119. -V. 
. . — . _ 873 16% 16V. 16*. +4% 

51Vl 34V* AmStlT - 33 5090 40V* 39»t 40 +19 

38 1*16 AraStofs A 18 2326480 2M 17* 20% At 

121.101* AmSIP .96 84 - 171 11 M lilt lit. -1* 

17 101* AmSIW ,99 d 85 _ 830 11%. 119. 11*4 +1. 

11%. 10*4 AIBSIP3 890 8.7 - 15*1 119. 11*T* 1IH _ 

7*1 1% AWsm - 33 18S8 IV. n. 1>* . - 

Jin. IF* ABWV .76 28 19 688 27^1 26%. 26%. -1* 
W . 11M AowaO _ 19 1054 28V. 26%. -IV. 

27% 20% ABMfgoS 2-20 83 25 150 2614 Mb 2M +li 

|>. V. AmkiTc — — 444 14» % W - 

1.41% AloMtSK - 32 1641 611* 59% 59. -1. 

54% AmCTttdt 2J6 M 18 5776 761* 75V* 7S*U -V4 

75U Amoco 2.80 « IS 9783 87%. 86% 8*1* __ 

56>V^3n AMP 1.04 1A 33 2826 44%. 43%. 431* 


tff 


571*31 Am?rnmnlJOO.l 
at. 14% AOWCSIF .12 s 
49*4 I*** AonKyAl 
30. Si* AmravJ 
76. 50. AlMM 
3. V* 70 Vl 
73V* 15% 

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104. 914 Apn 86 64 


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71 93S 57 5tf14l 56*4 +*. 

13 562 22*. 21%. 221* *». 
11 678 20*4 19%. 19%. A* 
15 560 10 9V. 9%. *H 

_ 31 6265 64 63% 63*4 •«* 

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*6 4.1 -. 770(33** 33 231* *14 

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- 30 543 1 7%. 171* 17%. At 

- 27 391 14V* 14V* 141* -16 

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32 *91 34%. 34%* 34V* A* 
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ira id*. i(»i im* - 

349.18 Apkltnffl s JM 1 8 31 U> »?[> 

Ui» ApfUMa - 4U502 !8*dl3h 13^* -1»* 

■8V.37 AptaFw .13 : 23 St? 

20*4 12*1 Am — ... *36 15*1 159a 151* *1* 

W+J 32% J2 ■* 73 375 53 SJ1. 57%. -«%* 

32*1 2414 Awm 1.641 83 W 146 31%. 31*1 J1U. A4 

ij Arnrwp <c .171 lj 1Q37 14<i 14W 14W *^i 

n5 2% ArSorPT .70S 68 » 107 1« 1^ 10%. -!4 

1914 6U AKOdhlFn — — 4517 71* 6% tl* -1. 

24*1 I6h .200 1.0 2312212 21% 2<P» -% 

r*. ?H4 AAKDfifl 1 jo SJ 23 842 301* 7W. 30 A. 

in* **4 AmPCMA 1*5 ’7 — 125 25% 25i* 3% in 

16<> ios-.Aivm^d 330 28 - 781 13*1 13*. 13% -V. 
7% Th Aram - - 674 3*a 3h 3%. ♦% 

6*. 314 Allftco — 11 2350 5*. 5V. 5V* 

tSn SSiwI 1.7* 24 14 1042 73 71 V. 71*. 

36 74*. AITOaCIs _ 2*4J4SailM 

6>1 Altra _ « 225 3*. 3V* 

alii 21 Arvm 801 28 14 871 33“-. 33 33J* -*■ 

34U 24% ASOTCD 80 3J ’Ml 2«. 24+6 Z4“a J « 

15\a 6L) Athontl J7c 5.) 7325 7)1 Tu -n 

55 3*>1 aSSS 1 10 23 17 26W471. 46%.^. _ 

131a 71* A-JoVc MellA - 8%5 6** Bh 8% -W 

u- 71. AlidPR . . .. 154 3*. 3*" 31. ♦(* 

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31*1 20’. AMISS 20c t8 - ’00 21V. 20% 21 jV> 

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shs: wx ,i« ^ 1 % ig. 

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671. 621. AWa*6 7 85 3.7 14110 »* f* 

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36%a -*■ 
56%. - 
295. -2* 


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27%»”V. ATMOS 1 861 19 


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al. S9V- AutQOl 831 
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3880? 


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IT*. S’* Anon 
3%.1IV. AvWffion 
361.711* AvHlt 
741* 55*1 Amol 
TB 504* Avon 
8*t 6*1 AM> 


17 RA 6A«hn 
33:4 BPATCp J24 1.9 
33J. V Hffc *» 13j - 
8h 7% BkAfnCO .72 84 
a’4 4 HtC Op 
90h 38% BJ4 
31«U6 BJSWhn 
IS** 171. BMC 


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: » 607 511. 78*6 79*1 -11* 

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j 13 1544 IB*. 18* t% 


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^ r & « a » j 1 g k h a 

Rtssssafiraji r-gjg ££ * 

a*4 30u gmsortmiMf' - ^ si* 5% •*% 

33V‘ IB* '* n I4B511. 3DT* 30%. +V. 

4l*i. Mt 



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131* 13 


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34*13*** 

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10? S+KT* -*S - JSt 1SH 15%. -ii 

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80 1.9 


g??S! 

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111 * 8 

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34V5 26V. 

781.41 . 

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20 1232 17% 17Va 17V* -ft 
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51 -9V* * -Hi 


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_ ion iot* to*. 10%. -v. 

- 305 7%. 7ft 7V* -ft 



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15 1025 34a 337. Xft +** 
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, 27 128 li*-, 12W iT^a _ 

.43 *j 

HrpTO? AT 6X .. 565 B 7ft 7ft -Va 


U» 7 S 

HCR 

TO IS HOoKI* 1071 AX 
23ft 13ft HnnpCnsv 50 2J 
28V. 17 ft Htttsth* 

7% tv* HedaM _ 
10. 129% h3d 78 2.1 
X9.3SU Htenz 1.X 2J 
28ft 26 HterHl p( 2X3 7A 
91W 41 Vi HeSnP 561 X 
HI* 37% Hoads 1X0 2X 
12% 10% HertUS .92 8J 
62ft 47ft Hcnhey X8 1 J 
41% 27ft Haitrn JO J 
72W4D HewWIPh 56 .9 
32V) 151) Homed 
5ft 2ft KBLD 
19ft ill* HJbam Jai ix 
64, S’. Vfilnco aOalOJ 
6W 6ft Hindi 630101 
.7% t r » Hilnlll JlalOJO 
12ft lift HitnnOp i.i2 *x 

“ “■ .72 V.0 

X4 BJ 

204 5J 
200 80 
M 1 A 


J2 1.1 

37% 73 KBffll afPZOO 7 A 
117V* 70 Hnochl <Ot IJ 
4M^5. Hacdslnxx 2J 
lift Bft Hactnotr .TO 10 

«01* 31V* HmeDops JO J 
2BV.2DU HraaPrp 1XW 6.7 
lift 51? Hometrow 
27lal3l* HemeSPen 
16ft 91* Hnsli JO 2.1 
8*, 7®«HomUian - 

75ft 51% Hondo J9e A 
80% 63ft HcnwM 1 121 16 
26ft 15ft HK Td 1 04e 4.9 
579,37% HorMn ail 1.1 
20V) 10 HanznGp l.«11.« 
32% 23V* Harmed .641 21 
3 *,Hm4tSI 

sr^s 7 " 

TO 1 . Xft HwaMM&JSD IJ 
TOft 25% HdCI D1Y218 81 
130 78ft HousJioil 1x61 IJ 
24ft ISft Houdtnd 150 63 
57% 46ft HoulUOOO 122 5.9 
16ft IS Howmefln 
29% 17 HuanP* 

471* 39% HubtedB 1.14 23 
21ft 14 HuasFd .08 .< 
16WI2% Huflv 34 2J 
36ft 20ft Hu(7l5up* JM .9 
25V. 17ft Humana 
15ft 10 Huntco .14 1.1 
17WI4U Hyman n 

7 61) HypT99 .43 bj 

8 7 HipTO? -47 6X 
8W 7ft HVU20Q5 AS 6.7 

10W 9 HypniTR .75 80 
76 22V. IBP .10 .4 

2ft 1% ICE Ini 
56 19ft ICNPhra J2 A 
35W28V* IES _ 110 6.1 

42 v* 309. IMCGIo .32 IX 
21 13ft (MCO .20 IJ 
53 38ft IHGGipni.lOeZA 
Xft 19ft INMCMtalXTOJ 
- zxoi8-4 


Z SI 


13% 9ft IP TLttiD 
21ft 14WIR1 Inti n 

S 19*b IRSA l.lte 3.1 
10% IRT .90 7 A 
soft 41ft ITT Carp 
33W22H ITT Inch .60 1.9 
3416 28b IckBnP 1.86 55 
36W23U IDEXs .48 14 
46ft 20ft OconOdSd .16 S 
39 30ft (KnOr .92 IS 
56ft 37ft rrWs 48 .9 
20ft IHbiOM 1J4 SJ 


Bft i5WlmaHon 
4»W20ft litiprBc 
71ft 45 ICT 


1801 _ 
240e 4X 


J2 

9V. flft Ir>c0p2000 43 46 
9** 8% fncOpI 40 &4 
10W 6W lmflaFd .01* J 
14% 8ft IndoG .08e .9 

t 34U 22ft IncfiEiTOr 1.18 4X 
17ft Sft Indores „ 

32ft 21ft IndoSata 45« 11 
13ft LndaTel J4e 24 
17% IndDbin 
70 (ndtotw i.ISI J 
46k 77ft biaerRds M 14 
34% 79 iiunaM 
27ft 1B9, llmSfl JO 1.1 

feraEw 1 " 4 * 


8W 8% 8v» _ 

, 9W 9ft 9ft _ 

19 1632 23 TOW 22V, -W 

X 225 2ft 2V, 2V» -W 

21 2831 54ft 52ft 52W.-1W 
15 390 34% 341* 34*. .. 

15 26(0 33ft 329.33 -ft 

TO 438 1 7% 17 17 A* 

_ 877 43W 42W 43". -V, 
13 IP] 231. 27b 22*. -V) 

2 P3 taw iou iOft w 

._ 795 18ft 17b 17ft -Ik 

_ 249 35% 35 35 -W 

17 816 llftllft lift _ 

23 7904 78ft 77ft 77ft -W 

16 1869 pv, Pft Pft -W 

15 396 33ft 3T , 339. +V» 

18 TOT 34% 33ft 33ft A, 
33 2023 31 W TOW 30W -ft 

16 453 36% X 36W -W 

24 P30 55% 541) 55 +W 

11 lblft 24 23V. 73ft -W 

- 1123 16V,01S% 15W -ft 
P 541 aSOft 49ft 49W-W 

19 1041 cOft 59ft 60%, 1W 
15 639 P% 30ft 30ft -ft 

- B 3® lTWdltb. l»-i% 
_ IllSl 9ft 9ft 9ft +V) 

_ ,404 9b 9V. 91, _ 

_ 1720 64% 69, 6ft -W 

- 790 9% 9ft 9% _ 

32 183 29W 29V, 299a A* 

- 214 ib 66 6b -W 

- 5535 71Vfcd20% 20*Va -2% 
_ 23P 14ft 13ft 14W-1W 
._ 260 18W 18ft 18% -ft 
19 3396 TOWdlBt* TO -ft 

17 2703 42 41V, 41 W —ft 

29 1PB 32V, PV, Pft -tea 


W M 

13% lift insMunl 
3Wl 23% OdoHS 
13Wllft IntrCd 
U'a 10ft IrtCAW 
13% lift Inacpim 
lbb 14 Itecopln 


.1 8 2209 iflb 18W 18% -Va 

^ 3 4flSS8*S8Sr»J& 


J4 34 
.77 SJ 
02 .1 
.75 55 
.72 54 
JB 5JB 
.99 6.1 


ISW 13 Itettralns .01 5.7 

g lift inriMT .96 6J 
1A, lOMInc ,93a 6.1 
13ft lOMlnv .960 6J 
H (OlVtSeC J5a 5.9 
17 Interims 
,7ft 2ft lrm»« 

113ft 63ft IBM* XO J 
53W394) IteFfav 144 2X 
26te»15% IteGome .12 S 
76 21W fteHFdsn 
37W 15ft HdMdt XO IX 
61 38ft IntPop 1X0 2J 
23% I Oft hrtteed 
99 b 6ft IT Cap 
53 29ft brtpW&s 52 1.1 
£QW33ft lntenaFti .72 IJ 
36ft Pft IrdstBaks J8 X 
37% 23ft InkdHad 
6% 3% InMan 
JS 15ft literate .52 23 
18% 14% ln»e*GHS 2X59 _ 

331* 14V* leyiroga 
16W 7Vi Iomega*! 

S3 X Ionics 
3BW26W IpcflOi 1.00 26 
Sft 23ft IrvineApd 1A0 4X 

WwlSft ife." .976 3X 
IDW 8% Italy J40 23 
23% 199a tvnPKg n 


83 SQ3 23*a 23W 23% 

- 1® 71ft 7 7 

- 337 13W 13ft 13V* - 

16 2366 TOW 29ft 29ft -dt 
_ 108 13% 13V, 13W +ft 

- 201 13W 17% 12W -W 

- 163 13ft 13% 13ft +W 

_ 159 16% lift 16W - 

- 137 14ft 14V. 14V. — W 

- 306 15V* ISW 15W -W 
_ 195 15% 15y* 1SV.+V, 
_ 196 15ft 15% 15ft +W 

in low 78b“ 2W* 2W* -V) 
7 739 4ft 4W 4ja -w 
1835819112% 110 110ft -2ft 
75 6693 50ft SOW 509. -U 
21 7555 249a 23W 24% +% 

- 2064*27 25V) 26% -19. 

87 <TO 77W 27 77W Aa 

1 45*. 44W 44b -*• 


!3W 13ft IPa Afc 
_ 323 8ft 7% 8 

75 1367 46 W 45% 45ft -W 
16 665 601* 59ft 59ft -% 
24 1593 35% X 349a -W 
P 25*3 3SW 35ft 35ft _ 

ZT lie 24W 
_ 578 17 16W 16ft 

4)304)1 29 w 284* 29 -IVa 
_ 175 15 14W 14W -9. 

TO 838 3SWd34ft 31V, -ft 
18 3% 38V. 37W38W -ft 
74 1766 31% P 

_ 958 13% 23% 

_ 92 32% 32ft 32V* -ft 

_ 204 10V. 10k 10% -W 

_ 333 22ft 21V* 22b -1 


#.■3 




J8J.SOS) 40 44 
•clay 2X0 64 
X2 .1 


lift 9 

35 IS JDN 
Pft 10b JLG 

XwJiS v&r Z 

27% 23% JPRIfy 1X01 7J 
49% X JSBFO 1.40 5X 
13 Pft JoeJmm 32 U 
329a 22ft Joafe 
10ft 4ft Jabma 

% S2M 


XBe 14 


16W Sft JartFICh .020 J 


119, 6W JF India 
86% 51b JcrfiPti 
10% 5ft JcnCra 
37V* lift JflJden 
10W 7b JOHamm 
13W 9ft JohnsMnv.ld 14 
Mb TO JohnJn XB 14 
SI 35ft JodnCns .921 2X 
Bft 5 JotetSHK 20j _ 
579, 30ft JonasAp 
Wft 19% Jostens X8 3X 
20b 14 Jl 
Bft 29. Jl — 

]2tea23W U Inc 
SOW 13ft KCS 5 
39ft 26ft KLM 
15% 10ft Kmart __ _ 
61(6 48ft KmaitF p13X8 JB 

F Xft KNEnvyl.lH 14 
79ft KU Entry I./6 48 

Xft M% KonPIp 140 7X 
tft 3ft KwwO - 

29teJ7l* KCJyPL 
35ft 14ft KCSaus 
23ft 11% KaufBH 

low 9b KmpH 
7teU 7ft KrnptG) 
lift 10 KrapMI 
14V, 12b BbdMii 
13ft 12% KraoStr xz 6 j 
55W33ft Kermsn .68 IJ 
42ft Pft KanfEI _ 

X 5SV) KerrMc 1X0 2X 
14 8 Kay Prd _ 

73W 47ft Krycnp laB 13 

1.4k 4J 


1.40 2J 
48 IX 


44 IJ 
X6 4 
TO* IJ 


1.62 5.7 
.16 S 
JO 14 
A 1.1 
.13 IJ 
.90 1.9 

44 IJ 
.90 BJ 
46 16 

ffS - 


19 



SSf s 145 53 


Kimmtn _ 

UndMEtlOO 54 
IQngVVd 1000 34 


7to 9A 
XO 14 

A A 

JOe 34 


1.97 9X 
40 IJ 


41% 

S7wi4. M . . 

7ft 2ft Kkiroasa 
211* lift jOrjy 
9ft BWKBAjbI 
57ft 35% KjvqWR 
75ft 36% Kofis 
TOft 101* Kobnor 
23% 16% IW 
22ft 79. 

7% 3 

179* 6Vt Korea 
9 3WKnt«vliVv 
20ft I5lt krorne 
379,21% Kroger, 

38ft 17b Kulten 
Jft *» LA Gear 
P» 15ft LO infl - 

25ft 71% LG4E 1 191 SJ 
5ft 4% U-ERy 47013.1 
27ft 22ft LNRPrn .05 J 
5% 3U LSBtnd 06 14 

21b W? tfc^ 146 6.9 
149,10% LTV .12 1.1 
W ft, LTV art 
Mft 16 LaOvhllo 07 .. 
44V. 29% La? Boy XI 1.9 
XV* 24b LXUlleRcZXi BX 
32ft 16b Laboite .580 3X 
4 JV, LabCp 
b WUteCpa* 

59% 50b I48CBPU 1.11 
XV. 20% Ladfcdt \3& 5J 
34V. 19ft Latuo*_ 481 14 
SW lft 
i6B in* 

47ft 32% UAbMP 3.12 7 X 

36b 24ft 

it W)Jft Lavt/mn 

■ |6% Cavno 


lift .- 
19 17W 




55k 27 
47% 29ft 
Sib 281* 
Mb 24b 
71% 9% 
3*ft 25ft 
31ft IV 
I4WT7H 
37% l*ft 
41ft ISft 


IJSe 9X 

.160 1.1 

!Vi 111* LatABi' 2X00114 

Sftisspa? "Sii 

33W16% UtyrTUi JO s 

aft* 3 *) tSn?o Z 

37ft 14b Lacaonals S 7 7JB 
Mb 20% L»M 

Lapp P tall 46 IJ 
2xt 74 

a 5 - i j 

LmGottl.iS eJ 

1.16 74 

S K 


82 2688 9W dflft 9W +W 

19 10X 31ft P 31V. t W 

16 1891 14 139, 13d* +Va 

29 697 29ft 27ft 29ft +lft 
25 ICftP 30ft 30ft 30ft -ft 

16 591 25 It 24% 24W-W 

17 113 49% TOte.TOte, *1* 
14 1*8 12 I1W lift A. 
14 860 25b 24ft 2tft -1 
_ 222 4b d4W 4ft -b 

- 797 7ft 7W 7W +% 
798 5ft 4W 4ft -ft 

_ 1411 10V) 10% 10% 

- 7X 6W 6W 6U. .ft 
14 1613 75ft 73ft 74V. W 
98 4J1 7te» 7W 7W -W 
37 920 XW 26W XW -Va 
14 899 Bft 8b 8b _ 
10 low 10ft 10V) lWVa -ft 
3730209 66W 64*1 *5 -W 

16 1959 469a 4Sft 46ft +% 
_ 782 SW 5 Sft -W 
24 5012 51 W 50ft ST 
72 997 23% 23W 23V. 

- 143 18ft lBft 18V| 

_ 4935 2ft dlU lft A*. 

20 774 TOW 79W 29% 

42 377 22% 22ft 22V. -ft 

7 1357 39ft TOb 38te» -1 

22 8247 129. I7W 12b -w 

720 55ft 55V« 55ft -ft 

30 208 46W 46 46% _ 

17 350 35ft 36b +9B 

33 1306 liS) )0ft 10W _ 

_ 92 34ft 34ft 34ft -w 

19 AS SW 5V* 5k -W 

21 955 28W 281* TOW A. 

27 4287 32ft 31ft 32% +% 

17 1 246 22ft Pft 22 A. 
19 903 33% 33b 33V* -ft 
„ 95 10V) 9% 10 -ft 

37 3231 40W TO TOW Aa 
17 337 33W 33V. 33* a +V. 
.- 265 1 0ft 10% 10W - 

_ 7K TW 7ft 7W _ 

3X3 10b Iffft (Ob ft, 
IX 14V* 14W lift - 
132 13W I2W 13W +ft 
598 5 SW 54V. 549, • W 

28 1194 Pb 30ft 30% -Va 

17 1026 66W 64*. 64W -ft 

14 143 lift 11% 11% 

19 4866 77ft Pft 72V. A* 

15 601 34W 339a 33W Aa 

10 112 12V» 12 I2ftt -ft 
_ S63 77ft n Z7W -va 
201X09 51 49ft 49ft Aa 

20 534 34ft 33ft 34 -ft 

- 211 5% 4W 5V.+W 

B 140 38 37 37 -Va 

15 ina 56ft 55% 55ft At 

- 226 7W 2W 2% Ar. 

18 US 1B%4 lBft lBft -ft 

- 375 ova BW aw Aa 

14 2473 51% SOW SOW -Va 
46 1906 74W 73V; 73k -W 

8 290 17V. 17 17 -ft 

11 326 22b 22% 22ft +M 

_ kso 9 sw aw-iw 

-1017 3% 3W 31* -% 

-71108 7V* 6te H 7 -W 

- 912 4 3>) 3W -k 

76 JBt J9» 19b 19b -W 

23 5*77 36*. 35ft JSW-Va 

22 tSfl 3Sft 35ft 3S% +V. 

._ 3141 % W b •% 

77 2576 77V; 27Va 27w -ft 

15 4079 23ft 22ft 23V. -Va 

H 215 5V. 5V* 5V* -W 

- 2511 23 27b 22ft A* 

- 147 4% 4ft 4W -Va 

19 9293 33 32 S -1 

21ft 21 PW+Va 
lift llVa ilk -va 

Vn ft ft _ 
_ 19V. 19 19ft _ 
161 44te,«4ft 44b -W 
16 33 32V) 32W -9a 

I* 19ft 19k 19ft -W 
Jft dlka 2 -ft 

ft • ,ftr _ 

_ 194 50b 048% TO -lb 
14 X327 25ft 25ft 25ft +W 

12 704 29tea 29S), 29b -w 
„ 352 4ft 4k 4ft - 
56 1652 13*. 13ft 136. -W 
14 476 44W 43% 44 tea -b 
X 197 6b 69. M* . _ 
» 504 37 W 37ft 37% -9, 

534 14W lib 14b Aa 

.. 122 14ft 13tea 13tea -ft 

- P3 IS 14W 146. •(» 

_ 770 10 «* 9>va -Va 

_ 148 17% I7W 179* A 

- 154 16ft 16V. j - _ 

' 371 11 9a II a 11 W +ft 

94 33te 32ft 32% -W 

’ 499. 481* ’ ' 

._ 18% II 

110 77 Va 2U* 

.. J7W 27ft 

M 354 57b 51b 

21 97* 2aa 43V. 

12 8349 55*. 52% _ 

Kft 26b -ft 

TOW 30V. A* 

34ft 34V. -W 

fS% MVaS* +ft 

S31 41 5* Stea TO '■*(* 

160 Pt 3% 3ft -Va 
784 13b 13ft I3W - 

221 17b 12*. 12d, -ia 

223 47 46% 46V. -W 

Mb 56b 56 56W -v. 






Slock D*i Yld PE U^HTOI LowLoim Orge 


S b 23ft 
M4 
to va 25ft 
25% 16b 

76ft 48ft 
lift 12 
41 15b 

57 38ft 
57*a38ft 
1131a 710 
41ft 23% 
ILSftSSb 
23ft 14ft 
61U lift 
svavs*) 
27W 19 
31*) 22ft 

aft is 

74k 13 
25ft 17 
TOft 37ft 
46W29% 

90b 44% 
22ft 15 
71 50ft 
2Sh 18% 
27ft ISft 


jProp 1.681 6.1 
lIPrplA 2J0 BX 

Z XD ij 

UoiHd -8 (9 
LincNtel 2XH 2J 
UVHOten 
Linens 

t5£b .45 $ 

LOrttidMlAO 1.7 
L666M -180 J 

Lxmn ISO .9 
Laaratfrt.ia -7 

UiSBInd 20 4 
LoncSIldi - 

Uia.ni ’SH 

LHIDVF -64 4.1 


lhiwf 

LoraCp 


LaPOC* M 3 X 
Loras 27 S 
Luonzoi 1.041 U 

tSft 1«6A 

Lwcttca 59e IX 
LydaU 
Lyandl 


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23 TO2 27ft 27% 27*a+>* 
_ PI 25b IS 25 -ia 
_17D73 64W63V. 6P) -ft 
16 3010 25V. 25 251 a -W 

IB 1053)^ 75W 76% .ft 

_ 1315 13W 13% UJ, **a 
35 572 WV. 3S'l *ft AW 
15 2790 54W S3 1 , fl% +1 
20 2175 51*a 511* 51% - % 

13 5305 96ft 06W 96W A, 

91 1781 74V* 24W MW +W 
_ 14631*8% 107b 107% -> 
27 2*13 ir* 17% 17ft -W 
11 5*1 50V) TO% TO% -b 
19 860 30b 29*1* 30 +V* 

Jl fn ?n* ?o»f -** 

31 1034 15*) 15% 15*a +ft 
- 6270 22% 221* 221* A, 
76 2121 20ft 19% 19% 4» 
34 HU 4616 46H TOft 

14 1796 380.38’* 381, -W 

14 1393 19H 19W 191) ■% 

_ 43$ 31% PW Utt A* 
_ 17546 81% TO*a 80% -111 
Z 1165 1ST, 15ft IS*. All 
23 657 60b 59*» 5¥!« -V) 

15 428 194 a 19W Wa ~ 
10 3429 27 26ft 26ft +W 


M-N-O 


□ 


*B 1 J 16 2343 46te* 65V* •«— 1*B 

J3 1 1 7710901 2WI 78v, Sft A, 

_ . MBNA jdA U77X - |13 27V, TjteaSft *>■ 
39V.26T* MCN EnnlXTQJ M 906 3ft 37% 31) 


2X1 6.1 .. 

.12 IX 10 

1.15 18 It 

2JB 8J „ '216 27W 260, 27 _ 

.77 )J _ 6*0 90* 9te, 9 O'. +V| 

X )J - 1339 6% **» *%.+ '. 

53 7 4 - 2421 7 1 a 7 7> 


67% 45b MBIAm 
30ft 16% MENAS. 

37% 251] 

33%*26V) MCN "Z 567 Ste. MW M’i 

Tin 7% MDC P1 J 2 to 10 1 S 6 J lift* 17% 12 }* +ia 

£*&&**** - 
6*1 6ft MOF 
PI 6ft MIN 
7b 6ft MMT 
9*a BWMFM 
64% V MGICS 
46ft 32V) MGABG 

i6*aio Miscnort „ - 
32% 70% JUUWCOS JS 1.1 
46% 27% ViSC I ltd 
44b 21ft MOCHUB 

TOW23VJ MocntdllX4f 6.7 34 266 27tei 771 V 27 a A. 
16ft VP* MacGryn - _ 119 15% 151) 15% *ft 

31% 16% ftwteeo A5* 2* 13 414 17* , 17. 17% A, 

17(* 9% Madertta J20 3J 12 181 10 9".» 10 - 

34V* 30ft MnaTOan _ 2305 74k 73V» 7V1 -til 


Jfl &X _ ISM 

a ST - _Z40 


7V, 7% 7% 

_ 9ft 9*a 9W+1. 

23 2587 lO 1 , SS 1 -. 58’. -1W 
IB TO IS 36%. 3SW 36 - * 

8 141 15*a 15b 15*. - 

u 176 25 24’i 25 

941 41ft Jdi 40% 


147 431* 42ft TOW -’i 
111 W, 9*. 9k. A, 


'l, 

^+w 

21 1038 P 20% 20ft - 
_ 1619 23Va a% 221. - > 
_ 1123 38<(. 37% 38% +% 
- 215 1W» 19 19*1 »W 

_ 1073 S’/. 7** BVi -W 
_ 1060 38V, 37** 381) +1, 
_ 699 12k. 12’. a 12V. -■ a 

_ 606 11V) I1W lift - 
_ 307 lift 119* lift 

401*22% MonChw s AS j J 19 240 36 35% 351* J, 


43 ft 77 MogGp 
731) TO Mogaalg 
24V. i2% MagMk 
23b i8>WMagTavn 
38% 10 flfeteWdlt _ - 
199,15 MatanR IJC SX 
18% 6b Mabyw 3J9cA)5 
45ft 34% Mdincfcr M IT 
12% I) MocfHJ 1X9 5X 
12*. ICT) MqdAAu»X7b SX 
12V.11 MgflMunT 47a SX 


37**21*) NlancxCr 
aft 79b nAanpwi 


Mb 13b Mjtoa * 
9!i S’, Maritm 
28 <9% MarUV 

76% 49ft MtSTMl 


09 J 17 970 36 »• 35** 25 W A, 

.M S M 3*95 3Ti 3y. 33 +U 

27% Mb ManulHml J7 4X 33 340 Z^a 27ft 27ft - 

44 28% MAPCO 60 IA 16 7170 4P) 421) 43W «!■ 

Jl l.l IT 94 19% 18% 19 +»1 

XI K ID 271 9'» «ft -ft 

.16 J 7B 1730 7T* 77(. 27W -ft 

. J6 5 39 7401 73’. 72'a 72 W-’. 

80 HK, MunhM 52.00 26 73 1T57 7B 76% 76*. -% 

38b 22% MoilMM TO 1 J 17 7M 35 -* M 1 * i* 

3ft 1 «MbwH - -2758 1W I la-'i 

TO»^3% MaSCO X4t 16 23 6553)52 49% 51*. -7;. 

23b 15ft MascoTch J4 IX 8 1489 ITi 17ft 17’ 


12% 9% MasPlt Xffl 73 
55% 20ft (tones _ 15 
21 >31) AVatSa - 17 

III lTOl, Matsu 1.10c 7 27 

43 % 231) MOM 3 J ll 
4ft Pi MauLaa JO 7.6 21 
10b Sft Mawian.llc IJ _ 


109 i;i) lltea 12 » 

778 741, 231. 23te, , 

346 12% IPt >3% -% 
ll*ia% IP 0,152’.) -> 
OOl TO n a 40ft 41*. A, 
107 3ft P) 3tea +ft 

_ 470 6-W 6% 6», 

171) B MadmGp _ 15 1430 14V, 14V, 14% 

32b 17 Mod mu* n _ 45 2*5 24b 24% 34% -% 

27 25b MoaipCA250 9J . 296 2F) 25*. 2S’» -W 

Zll.12 Maxxtn - 19 307 22 Pte zm. + W 

571) 43ft MayDS 1J0 2J 18 2873 551* 55V, 55*, -ft 

351) 19% Maytan 64 IX 24 4125 b3S'i 35 35-’i — ) 

3SV.23V) McCtoW 38 IJ 14 464 29b 28ft 78ft -ft 

40b 16 McDcrt 20 A - 2593 33% Eb 33ft -ft 

52% 16% Me per JR - _ 109 38ft 38ft 38*, -ft 

79% 15Vi McDInv s JS .9 M 112 28b 271* 7T tt ^1W 

S '.) 47b McDnlds J3 J 2117422 J7», 47 1 ■ 47ft .Il 

**74% McDn36 1X8 13 _ 92 76*, 26 261. . . 

71») 43b McGrH 1A4 2.1 25 1839 TOb aBV, 69% - “ 

113% 51% Mckrsson 1X0 .9 35 1597 >10*, 1*% 107 -3' a 

Z7d»(9’i McWlUtr „ 17 U3 74". 7TOa 24 1 *, ■% 

P% 24b Mead) M 7J :iw388 79a „ M 28’ , -|% 

08 J 19 424 25Vi 34b 24 1 *, -W 

. _ . . _ _ 12*6 13ft 13% 13*1 -W 

MedPort _ -19185 24*, 22b 23*» .. 

26b m, MedPITAP 1A46J _ 2710 73ft 22% 33 A, 

39b 29W Med hm 238? 6J 17 1573 38ft 37% 3 r ■ -ft 

STft 7B*) Mbdtmk 5 J2 .4 56 8»26M7*. SO®, Pft -“a 
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lift 10 Mteabn - _ 383 14V, 14W lib - 

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27k 1 
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78 59 Moot % 
lift ttt Mol Bio 
18ft 6b Money? 

52W34K Mnnson 
28k 20k McnPw _ ._ 

19W17U MBlSi lX4e 75 - 

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BramewB iJS’fc* a -.5 

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15ft lift MSEMO (27e 8L5 
25*4 24 MSFn7J0 US 7X 
17ft 12ft MSGWK Ule 9X 
16k 13ft Mr05HY UZ SJ 
144* lb MS India 
41% 17ft MS RBSM .148 J 


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_ 119 16V. 16 I6W +Y* 
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15 

28b 6% Matter Pwr _ - 
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24b 14k NGCS X5 J 71 372 17V) 17ft 179a -ft 

47W38 NIPSCD 1X0 3.9 15 3740 46W 45k 45W At 

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2.7 18 5814 63k 62ft 63% 

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_ 4 


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Continued on Page 17 

























































































































































































































Germany Posts 
Record Joblessness 

Rolls Swell by 11,000 for November ■ 


CtatMtyOvSueFnmDbp»*a 

FRANKFURT — The number 
of unemployed workers in Ger- 
many rose in November for the 
eighth consecutive month, sta- 
tistics released Tuesday showed. 
The jobless rate remained at a 
postwar high.of 11.8 percent of 
the potential work force. 

Adjusted for seasonal vari- 
ations, unemployment rose by 
1 1.000 in November, to a record 
4.526 million, die Federal Labor 
Office said. Unemployment 
climbed 19,000 in October. 

The data showed improvement 
in Western Germany, where the 
number of jobless workers fell by 
more than 3,000, to 3.053 mil- 
lion, while in Eastern Germany a 
construction slump and the end of 
government job-creation pro- 
grams swelled the number of un- 
employed by nearly 15,000, to 
1.473 million. 

Separate data from the Bundes- 
bank showed that in Western Ger- 
many, the adjusted jobless rate 
was unchanged at 9.9 percent, 
while in the East it edged up to 
19.6 percent from 19.4 percent. 

But the figures were somewhat 


better than analy: 
and Bernhard Jagoda, president 
of the Federal Labor Office, said 
he saw signs that joblessness was 
gradually peaking. 

“ In die job market in Germany 
there are further signs that the 
bottom is being reached gradu- 
ally. even though we still have to 
wait for a fundamental improve- 
ment,*' Mr. Jagoda said. “The 
growth trend in die German econ- 
omy is not yet steep enough to 
keep jobs from being shed in the 
face of continued high pressure 
on corporations to rationalize.” 

That view also was endorsed 
by private-sector economists, 
who said they expected unem- 
ployment to begin falling in the 
first half of 1998. 

The Western decline “is an 
expression of the firmer econ- 
omy. especially of the manufac- 
turing industries, which are be- 
ing supported by exports,” said 
Uwe Angenendt of BHF Bank 
AG. “We’ll have seen the worst 
in February.” 

While Western companies 
have enjoyed improving sales 
and earnings thanks to rising ex- 



EriPUOaftacMtrucB 


An unemployed man reading help-wanted ads in F rankf urt 
on Tuesday as data showed a rise in German jobless rolls. 


port demand. Eastern companies 
are still suffering from cutbacks 
in public spending, particularly 
in construction. Eastern Ger- 
many makes up about 10 percent 
of die economy. 

“Eastern Germany is not par- 
ticipating in the recovery," said 
Dietrich Beier of Bankgesell- 
schaft Berlin. 

Peter Hausmann, a government 
spokesman, acknowledged that 
faster economic growth, forecast 
at 25 percent for the fhlJ year, had 


Euro Aide Seeks French Office 


Agence France-Presse 

BRUSSELS — Yves 
Thibault de Silguy, the official 
charged with steering Europe 
toward a single currency, in- 
tends to run in French regional 
elections in Brittany in March. 

The decision by Mr. de Sil- 
guy, the European commissiooer 
in charge of economic and mon- 
etary affairs, raised eyebrows 
among some officials here. 

They questioned whether he 
could realistically expect to 
juggle electoral campaigning 
and possible office in France 
with a role in Brussels during 
the countdown to the launch erf 
the euro, the common currency, 
on Jan. 1,1999. 

Mr. de Silguy confirmed 
Tuesday that he intends to ac- 
cept an offer from the Gaullist 
party of President Jacques Chir- 


ac of France to stand for pres- 
ident of the Brittany region. 

Regional elections in France 
are set for March 15, the same 
time that the European Com- 
mission is to draw up reports on 
which countries are ready to 
join the single currency. 


lems, officials 
doubts about whether Mr. de 
Silguy’s planned dual roles 
were compatible with rules gov- 
erning outside interests of com- 
mission members. 

Article 157 of the EU Ttaaty 
prohibits members of the EU’s 
executive body from engaging, 
“in any other occupation, 
whether gainful or not” 

A spokesman for the com- 
mission president, Jacques 
San ter, pointedly declined 
Tuesday to comment on wheth- 


er Mr. de Silguy’s proposed ac- 
tion was acceptable. 

The commissioner had an- 
nounced only his availability to 
stand for the post, not confirmed 
that he would, the spokesman, 
Klaus Van der Pas, raid. 

■ Britain Insists on Role 

Prime Minister Tony Blair 
told Prime Minister Jean- 
Qaode Juncker of Luxembourg 
on Tuesday that Britain most 
have a seat on (he proposed in- 
ner cooncil of countries that will 
coordinate the EU’s single cur- 
rency, Reuters reported from 
London. 

EU finance ministers failed 
to agree Dec. 2 on how to in- 
clude countries such as Britain, 
which will not be in the first 
wave adopting the proposal 
single currency. 


British Store Gets 
Word’s Worth by 
Hiring Own Poet 

Reuters 

LONDON — Shelf-stackers 
of the world unite. For now is 
the time to recite. 

The British retail c hain 
Marks & Spencer has hired an 
in-house poet to bring out the 
wordsmiths on its staff. 

Peter Sansom, a 31 -year-old 
poet, is running workshops for 
the staff. 

“Poetry is like dancing. Not 
all of us can be ballet dancers, 
but all of us dance. Everyone 
has a poet inside of them strug- 
gling to get out,’ ’ he said. 

He was coy about how much 
he was being paid, but he is 
“hopeful of a discount on my 
favorite iambs wool cardigan.' 1 


not affected the labor market He 
said that 3 percent growth in 1998, 
as forecast by the government, 
would be enough to lower un- 
employment from record highs. 

Most economists expect West- 
ern joblessness to fall next year as 
exporters are forced to resume 
hiring. But high labor costs and 
taxes are still deterring many 
companies from hiring, and tax 
reforms to bolster job creation are 
unlikely to be realized before 
1999. (Bloomberg, Reuters) 


Moscow Tells IMF 
It Can Manage on 
Its Own for Now 

Renters 

MOSCOW — Russia and the International 
Monetary Fund discussed providing Moscow 
with a Seo iil-style stabilization package, but such 
financing is not needed at present, Yevgeni 
Yasin. minister without portfolio, said Tuesday. 

Mr. Yasin said new financial instruments had 
been worked out as part of the process of helping 
South Korea. 

“We discussed the possibility of applying 

these new forms to Russia, if this becomes nec- 
essary.” he said. “The situation today is that we 
are not asking for anything, we can manage on 
our own.” 

A Fond mission is in Moscow, and the au- 
thorities there have asked the lending agency to 
consider bringing forward the disbursement of 
the next S700 millio n quarterly tranche of the 
IMF’s loan to December from January or Feb- 
ruary. The loan has been suspended since a 
mission left in October without completing its 
work, pointing to poor Russian tax collection. 

Senior central bank and government officials 
also flew to Washington last month for talks with 
tire Fund. 

Moscow has been negotiating short-term fund- 
ing of up to $2 billion with Western banks, but a 
senior Finance Ministry official said Tuesday drat 
Russia's finances had improved and that there 
was no need for further significant borrowing this 
year. 

Talks with the banks will resume next year if 
necessary. Deputy Finance Minister Mikhail 
Kasyanov said. 

“They have now stopped,” he said, referring 
to the talks. “We shall return to this question at 
the stan of January, ac the start of the New 
Year.” 

Mr. Kasyanov said Moscow expected to re- 
ceive more than $1 billion in loans from the 
World Bank soon, and he noted that domestic 
bond and Eurobond markets had improved. 

A World Bank spokeswoman said the board 
was expected to vote in the next two weeks on an 
$800 million structural adjustment loan to help 
Moscow carry out economic reforms and an $800 
milli on loan for the coal sector. 

A better performance by Russian bonds on 
domestic and international markets had helped, 
Mr. Kasyanov said. 

Some Russian treasury bill dealers said news of 
the World Bank loans should help the market 

“If they give us the credit it will hold back the 
selling which occurs periodically,” said Sergei 
Fyodorov, a dealer at Vneshtorgbank. 

Mr. Yasin, one of the government’s, main 
economic experts, also said the budget deficit 
next year could be bigger than planned as debt- 
servicing costs would increase following the 
recent market turmoil. The 1998 budget, which 
underwent a first reading Friday io the Federal 
Assembly, proposes- a deficit of 4.7 percent of 
gross domestic product, and Mr. Yasin said it 
could now be l J to 2 percentage points larger. 


Investor’s Europe 


Frankfurt 
OAX ■ 


London 

FTSEIOOInctex 


Apt* . 
GAG 40 



A SOND 
1997 


®liSOND 2600 J A S 0 N 0 
■ 1997 


-fefcnaqMv to? 9 * 

Tuesday Jbw. 
cause. Cioae Change 

ArpSteftiKn AEX :•* V 

9Z4vOO «K4T -02 7 

..SRtOBic . * -BEUatf . 

i487-75 2J511.74 -0.86- 

Frankfurt -BAX- 

4.1SL91 4223.8*. *0^1 


66&TS -ftps 

3.42L» WS8J2B.- -t.01 

HcfarioRI . HEX General 

Oslo OBX 

Tani* - 686.93 iaea 

London ■ FT SE 1f)Q 

5,i77.to 5wiar.« -o^o 

Madrid •' 1 S*k* E xchange 

m.n . 6Z&73 +0.79 

■mwi \ :■ ..imm: . 

* -15786 1575* : +020 

;pa«f» CACAO. . • 

2 JB8BAQ 2,832.47 +0.92 


.3A1&3S 3^52.93 -1.08 

■.VfeWWK .‘-Arx ■ 

1J303 » *Tss 

•■Ztfflch ■- 

3,803.55 8v80&«7 +0.08 

Source : Tetekuts 

tareeroauiagi HeraU Tnteor 

Very briefly: 


• Deutsche Lufthansa AG’s cargo unit reached agreement 
with its five partners — UAL Corp.’s United Airlines, Thai 
Airways International, Varig, Air Ca nad a and Scandi- 
navian Airlines System — to extend their cooperation from 
passenger transport to freight. Each airline's freight network 
will be linked through a common computer system. 

• Flag Ltd. and Bell Atlantic Corp^ its biggest shareholder, 
opened die world’s longest undersea fiber-optic cable, a $ 1 .5 
billion link extending 17,000 miles (27,200 kilometers) and 
providing digital co mm unications among Europe, the Middle 
East and Asia. 

• Universal Studios, the Hollywood film producer, has filed 
a complaint with the European Commission against the 
p lann ed-digital television merger between the German media 
giants Kirch Group and Bertelsmann AG, a commission 
spokesman said. He gave no further details. 

• Deutsche Bank SpA. the Italian subsidiary of Germany's 
largest hflnir L is setting up Italy’s first real-estate mutual fund. 
The fund will be launched in the first half of 1998 with assets 
of 300 billion lire ($171.0 million). 

• Tesco PLC, a British supermarket chain, agreed to sell its 
French unit Catteau SA unit to Pro modes SA of France for 
2.51 billion francs ($419.7 million). 

• Hellenic Telecommunications Organization SA has ap- 
proved the acquisition of a 90 percent stake in ArmenTel, the 
Armenian state telephone monopoly, for $142.5 million. 

• France’s finance minister, Dominique Strauss-Kahn. said 
he planned to introduce in March or April a series of reforms, 
notably affecting mutual funds, in a bid to promote Paris as a 
financial center for die single European currency. 

• Volkswagen AG has set a goal of selling 5.4 million 
vehicles in 2002, up from 3.99 million sold in 1996. 

• Air Europe SpA, an Italian long-haul charter airline, plans 

to sell up to 49 percent of Us equity to die public early next 
year. Bloomberg, Reuters 


WORLD STOCK MARKETS 


Tuesday^ Dec. 9 

Pikes In local currencies. 
Tetekurs 




Lore 

aasa 

Piav. 

Amsterdam 

AEXItiae 92400 



Prertaas: 92667 

ABN 4 MRO 

4170 

4161 ) 

41 J 0 

4190 


177 JO 

17620 

17690 177 JO 

AJtoS 

SJ 0 

5640 

5650 

5 SJB 

Akzo Nobel 

353 

348,90 

353 

351 

Boon Go, 


147 

1 S £60 

156 

BobWesscva 

31.40 

3 DJ 0 

3060 

3 IJ 0 

CSMoa 

8440 

8120 

8140 

8610 

DrodtaeheRe! 

10760 

10620 

10630 

107 

DSM 

187 JO 

18550 

18 SJD 18690 

Elsevier 

3370 

3160 

3360 

3180 

Fans Aron 

8770 

8620 

87 JO 

8/.20 

Gertoreies 

64 J 0 

63 

63 J 0 

6470 

G^roenu 

5470 

> 1 

5150 

5360 

1 mijcj never 

9390 

92 

92 J 0 

93 J 0 

HeSrten 

349 

uin 

34790 

349 

Haogomnscva 

HunDougkE 


95 J 0 

77-70 

9650 
77 JO 

PI 

ING Group 

87 J 0 

B 650 

87 

ni 

KLM 

7 BJ 0 

7650 

7850 

76.10 

WtPBT 

ax 

4260 

4260 

4130 

KPN 

8260 

87 

82.10 

8160 


45.10 

6160 

44 JB 

6aio 

4430 

6 QJ 0 

4470 

4160 

OceGrinkn 

229.90 

224 

224 

230 

Pbltos Etac 

13870 

115 

13640 13660 

10150 

101 JO 

102.10 

102 


7570 

7160 

7660 

7570 


194 

192 50 

19240 19130 

Rodrereco 

57.90 

57 

57 JO 

5730 

Rofinco 

182 J 0 

181 JO 

181 JO 18070 


12030 

119 JO 

119 JO 11990 

RoyrdPufcl) 

109.70 

10130 

109 

10840 

12110 

17761 

12110 12110 

Veodexlnll 

11470 

112-50 

11160 11190 

VNU 

52-10 

5£70 

5160 

5160 

Waften KIcva 

267 JO 

264 

26530 26640 


High 

Deutsche Bank 125.10 
DeutTWekren 3535 
DrudncrBa* 81 J 0 
fro rental 2 B 7 

FrosettisMad 11530 
Fried. Krupp 353 
Gete 10130 

HeMetbgZml 141 JO 
NtnteipSd 11250 
HEW sn 

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USD 
650 
7750 

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35.10 
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Meta*gese*schon 33 J 0 
Mein 8120 

Meril RuttfcR 620 
Prcussog 51730 

RWE 97 

SAP 558 

18550 
234 
10950 
Springer (AxO N.T. 

Swdzucter 920 

Tfarswn 615 

Me 11385 

VEW 556 

Vtog m 

Votawogw 1009 


Low a as* Free. 


Kmsfexfl 

Lahraeyer 

Unde 

LufltamoR 

MAN 


Sthertng 
SGL Carton 


12250 

3650 

8070 

284 

114 

3 S 0 

10050 

139 

11030 

465 

7470 

6350 

640 

77 

1130 

3445 

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876 

3350 

8150 

608 

513 

9330 

552 

18230 

230 

109 

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910 

412 

11230 

556 

948 

1009 


12430 121.85 
3450 3550 
8150 7895 
284 286 

115 113 

350 357 

101.10 9830 
13930 142 

11250 11150 
465 465 

75 - 75.10 
6350 6435 
643 652 

7750 7730 
1130 1150 
3474 3450 
546 546 

078 881 

3180 3355 
8250 8320 
61430 606 

5 M 519 
9350 9735 
55530 562 

18230 18230 
23030 23930 
10930 111.25 
NT. 1380 
916 920 

41350 41930 
11230 11550 
560 560 

960 98930 
1009 1037 


High Law dose Piw. 

SA Breweries 11950 11830 119 120 

5 ammcar 2450 2450 2430 2450 

Saul 50 4935 4955 «30 

SBJC 207 205 207 21130 

Tiger Outs ' 6730 6730 6730 68 


Kuala Lumpur cemkajs 

r Preston: 67447 


Mpi Low dose Pro*. 

UtdUflHbs 739 732 731 770 

Vendomelxots 469 437 469 439 

ftxtatme 411 . 358 403 403 

WtriOxcod &73 832 832 87 B 

Wifom HdflS 340 376 330 332 

Vtafcatay 531 480 454 458 

WPP Group 270 266 238 238 

Zeneca . 1955 1933 1955 1976 


High Lm Closa Pro*. 


High Im dose Pre*. 


AMMBHdgi 


Mol Baiting 
MdkfflSMpF 
PtfcocnsGti 
Proton 
PuMcBfc 
Renong 
brats World 
Rodmans PM 
Sbne Dafcy 
TMekaaMol 
Ti 
UN 
YTL 


334 106 

107 ) 970 

1230 1130 
595 535 
9 J 5 890 

535 S 
235 249 

3235 3130 
430 356 

1150 1030 
9 770 

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106 334 

10.10 1070 
11.40 123 B 
550 535 

9 950 

5.10 5.25 

210 223 
Sub. 150 
635 7 

32 32 

408 432 

1050 1150 
775 955 

Sam. 334 
&U 530 


Bangkok 

AftMoSK 
Bangkok BkF 
Krona Thai Bk 
PTTExptof 
StaaiCemeniF 
Stan Cam BkF 
Tdecrenasla 
Thai Atm 
TM Fora BkF 
Did Cram 


222 

130 

1250 

402 

398 

7250 

12 

4730 

119 

2730 


SET Mta 39037 
Plates 4 fl JO 

218 222 220 
122 126 129 

1130 1130 1230 

390 400 398 

364 390 394 

6830 6830 7030 
1050 1075 1175 
4430 4675 50 

113 US 116 
24 2475 25 


Bombay 


BataAoto 59930 STS 
HJnOusJ Lever 134630 1290 

WndustPeOm 453 446 

Ird Dev Bk 83 83 

ITC 621 SO 

MehanogarTel 325 21975 
ReBanceM 16830 154 

State Bk Indio 218 20B7S 
Steel Alrihortfr 1075 975 

TNaEngLra 


283 271.75 


SOOTS 59450 
1383 133225 
45130 45030 
BUS 83 
565 61930 
223 221 

15775 IS 
21230 21675 
975 1075 
27425 Z 79 


Brussels 


BBL 

CBR 

Cobuyt 

DdhaueUan 

Eirchobri 

Etedofina 

Fertt AG 

Gngai 

GBL 

GenBonqae 


Scrotal 
Sac Gen Bi 
Sartor 
Tractate! 
UCB 


BEL-28 tate 241775 
PIWW* 251174 

1755 1730 1755 1725 
4650 6750 6780 6840 

10175 10050 WOO 10100 
3495 3405 3410 349 S 
19900 19000 17175 20000 
1925 1900 1920 1925 
8310 0270 8280 B 3 T 0 

3500 3445 3500 3480 

7630 7570 7 OT 7600 

1740 1680 1710 1690 

5540 5360 S 30 5590 

15)00 15525 1 SS 50 15650 
15325 15100 l£» 15300 
14400 14225 14225 14475 
5190 5100 5180 5190 

10300 9940 9990 10300 
3550 3470 3540 3545 
2415 23 « 2350 2400 
3125 3105 3105 3120 

129850 127300 127000 129500 


Copenhagen 


BGBonk 
CoriibmjB 
Codon Fan 

Conoco 

DenOomkeBk 
CV 5 S*endbraB 
ttS 1912 B 
FLSIndB 
KobLufltmnc 
NiaNantedcB 
SaotmsBerB 
Tne DanmkB 

uiSmtokA 


Slack Mac 45745 
P iailoa ii 658.19 

495 40 48 $ 490 

378 369 378 37 B 

948 963 965 965 

371 363 364-40 368 

84284 834 838 846 

430000 425000 430000 425000 
305000 300000 300000 297000 
190 174 180 186 

79079 790 790 792 

920 904 910 907 

1090 1070 1077-50 1080 
434 41909 429.13 42 S 

432 424 432 430 

512 483 510 500 


Helsinki 

HEX Gureel tote 342L20 


PmkMK 34562B 

EnsaA 

47 

47 

47 

48 

HutitaeaMI 

228 

225' 

22S 

278 

Kanbu 

51.90 

5130 

51 .V0 

5190 

Kesko 

84 

83 

84 

84 

PfcrtaA 

27.10 

2690 

2490 

27 

Meta B 

132 12830 T28J0 

17970 

Metsa-Seflc B 

4£50 

48 

48 

4830 

Neria 

127 

126 

127 

198 

Nokia A 

436 

414 42110 

435 

Ortoo-YWyraoe 

150 

148 14830 

714 

Outakaropu 

7130 

7270 

7270 

77.90 

UPMKyimrae 

113 

111 

111 

117 

Vrerod 

79 

.79 

. 79 

79 

Hong Kong 

Kang Sow 114M46 
Preriaas 1172294 


7 

1960 

£90 

1830 

690 

1B.90 

7J5 

1930 


7.15 

£95 

7.15 

7.10 

nEE£S2i 

U\ Hunojuu 

CMreiUaM 

CBtaPocBc 

57 

2370 

5625 

72.75 

5595 

73 

5795 

7110 

43 

3470 

41.10 

3U> 

4130 

3430 

43 

3380 

SESS? 

22J5 

530 

2195 

560 

2235 

565 

2235 

565 

Hang Lung Dnr 

11 JO 

1135 

1160 

11.90 

Hang Seng Bk 
Henoefsco tov 

7450 

7 

7530 

670 

7625 

670 

7850 

7 

HenderecaU 

4090 

3990 

4030 

40.90 

HK Oilnc Gas 

15 

1465 

1440 

1570 

HKEtacMc 

29 JO 

2£l» 

29.10 

79.95 

HKTetaCORro 

1680 

1625 

1650 

1670 

HapntilHdcs 
HSBCHdgs ' 
Hufchfaoc Wll 

273 

210 

115 

203 

118 

205 

233 

209 

5530 

£125 

54 

5530 

HyrenDe* 
Jatnaon B Hdg 

1470 

26ID 

1630 

1635 

2410 

1675 

21.95 

Kray Praps 
NewWtaU Dev 

1420 
31 JO 

1160 

3DJ0 

1490 

3130 

14 

31.90 

Oriental Press 

233 

298 

730 

233 

Peart (Menu 

063 

061 

061 

062 

S«C Props 
ShODTakHdgs 

4150 

62 

4S <ta 

4495 

278 

270 

2J0 

7J3 

Stoa Land Co. 

535 

£05 

£15 

590 

Sth China Pori 

620 

615 

615 

620 

SwirePocA 

4620 

45 

4591 

46 

Wharf Hdgs 

1740 

1670 

17 

1735 

Whedock 

995 

9J5 

9JS 

935 

Jakarta 

Crerem* 

rtedsK 

Hi a 


Pirertow: 42141 


2375 

7075 

737S 

2075 

Bk Inn Men 

£25 

475 

475 

525 


600 

550 

550 

400 

GudngGom 

0850 

8300 

8650 

8675 


1500 

1475 

MTS 

1500 

todofaod 

2850 

2650 

7700 

7600 

todosof 

9600 

tt&O 

9175 

9730 


5050 

4075 

4925 

5075 


31 50 

2925 

3025 

3000 

TflMorounfcBSl 

3275 

3100 

3225 

3075 


London 

Abbey Natl 
Altai Daaecq 
AngBon Water 

aSSdGomp 

Assoc Br Foods 

BAA 

Bodays 

Bass 

BAT tod 

Bank Scotland 

Blue Greta 

BOC Group 

Boob 

BPBtod 

BrO Acres)) 

Bril Always 
BG 

BrlLaid 

BrlPeUm 


FT-SE 100 : 5177.18 
Pravfam: 518740 

1029 10 JD 2 10-21 1022 


5-49 

537 

562 

530 

832 

892 

£22 

836 

622 

614 

615 

618 

1 J 0 

171 

174 

174 

5 LS 

£44 

£50 

534 

£18 

495 

495 

£13 


16.52 1570 1628 1572 


9.15 

9 

9 J 7 

937 

£-58 

£45 

537 

569 

£75 

£17 

£70 

£64 

364 

120 

339 

134 

1107 

9 J 6 

996 

9 J 8 

9 J 4 

£81 

893 

9.05 

-132 

395 

132 

128 


ML 

BrilTetocaa 

BTR 

Banal] CUM 
Bwtwi Gp ^ ^ 


EMI Group 

iSKSS 

ForaCotanU 
Gem Acddent 
GEC 
GKH 

GtamWfefcorae 
Grenada Gp 
Grand Met 
GRE 

GreenafeGp 

Guinness 

GUS 

HS&CHMgs 

ta 

Inti Tobacco 


1772 

571 

195 

671 

844 

473 

145 

477 

2 

1046 


1620 

£56 

286 

6-53 

845 

442 

142 

444 

175 

1019 


1745 1645 
544 557 

289 291 
640 674 

051 843 

446 442 
143 144 

474 475 

178 178 

1066 1025 


165 

162 

163 

166 

536 

538 

£45 

563 

639 

692 

4 JS 

695 

467 

436 

458 

468 

£99 

£77 

898 

US 

732 

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791 

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305 

660 

636 

646 

670 

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463 

465 

467 

499 

479 

487 

490 

669 

631 

634 

662 

614 

602 

607 

611 

176 

173 

175 

175 

11 

1061 

1079 

10-85 

413 

406 

408 

411 


Land Sec 
Iran 

Legal GsdGip 
Lloyds TSBGp 
Luca sV toBy 
Marks Spencer 
MEPC 

Mercuy Asset 
Kaftonal Grid 
Na> Power 
NaNM 
Nad 

Nomtch Union 
Omge 
P&O 


1120 1288 
1450 1428 
875 . 032 
£82 . 578 
320 3.16 

433 4.10 

£85 £78 
738 723 

£B) 787 

1635 16.02 
9.10 882 

193 388 

057 830 

285 281 

1013 998 

28 T 275 

£25 5.17 

790 756 

1.95 189 

622 


frkfcs&n 
P owei Ocn 
Prendre Fomdl 
ProdmlM 
RaRnocKGp 
Rcr* Croon 
Reck* Ota 


Johannesburg ȣ**%** 


Frankfurt 

AMB B 175 

Adidas 27125 

Altar 438 

Alta* 127 

Ab Catania 169 
BkBeifri 3885 

BASF 6425 

Barer Hrpo 8 k 8430 
JJay.VeremsbOflk 1 1580 
Bayer 66.70 

Del e re tort 78 

Being 4115 

BMW 1414 

Comreeatank 6840 
Dower Bern 12740 
Degusso 9250 


DAX: 418471 
Previses: 422336 


170 

36950 

436 

12370 

167 

3745 

6350 

8350 

11670 

6£90 

7720 

4460 

1 - 4)1 

6740 

12180 

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17130 17190 
36950 365 H 
43750 43830 
12340 12240 
16850 164 

3745 3755 
64 6435 
8370 8645 
11570 11730 
6590 6745 
78 7730 

45.15 4415 
1414 1443 
6810 6635 

126.15 12850 
9150 9170 


A 85 A Group 

AngtaAin Cod 

AngtaAflfrGnp 

AngtoAmGaM 

A* 0 aAmlnd 

AiwtoAMPW 

AVMIN 

Baring 

CG. Smite 

DeBws 

Drtafantatn 

Fit NaS Bk 

Gencnr 

GFM 

bep«MHdgi 

tagweCoal 

Isoar 

JobtotiflOdl 

LtotyHdgs 

Minorca 


Nedcor 
Rembrandt Go 
Rfctnroont 


2850 

226 

20040 

17180 

114 

7350 

685 

4285 

20 

9940 

32 

41 

780 

71 

5750 

1770 

1J» 

4955 

328 

12120 

16 

0680 

1525 

107 

3670 

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2740 

224 

195 

Ml 

104 

7310 

550 

42 

1950 

9890 

31 

4080 

745 

66 

56 

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4950 

32740 

120 

1£15 

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15 

10680 

3640 

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2855 2725 
224 225 

20)20 196 

16980 172 

114 112 

7330 7400 
£95 6 

4240 4325 
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9920 9980 
3140 3145 
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775 780 

6840 6110 
56 58 

1755 17.15 
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4950 4950 
32740 32980 
12040 120 

16 16 
8660 8640 
15.10 1580 
107 W 7 
3620 3670 
5250 52 


»eed Ml 
RentaMldfld 

RTZlM 
RMC Grasp 
Hnta Boyce 
RowlBfSad 
RmUSnAI 

sSnSy 

MmlHi 

5 a>INewtra 8 e 
Sat Power 

Seairicnr 
Severn Trent 
SheBTraaspIl 
Sdw 

Snlti Nephew 
SmflhKEne 
Sitihstod 
Sown Elec 
Sagecoadt 


Tote A Lyta 
Tesco 

Thome* Wota 

31 Group 
Tl Group 
TamUns 

Uflitate 

utdi 

UN Neva 


£ 5 Q 

1676 

101 

603 

10JB 

754 

191 

275 

678 

849 

125 

8 

428 

7.18 

10.95 

351 

957 

345 

635 

140 

7.17 
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8 

924 

248 

750 

645 

341 

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1920 

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9.97 

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641 

9.18 
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£43 

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293 
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369 
258 
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52 

617 

358 

695 

375 

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921 

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727 

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179 

619 

880 

685 

770 

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480 

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£15 

294 
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1311 1331 
1449 1483 
883 840 

£81 584 

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£80 585 

734 734 

789 799 

390 193 

847 650 

283 183 

1025 10.10 
377 277 
£21 523 

781 784 

191 191 

634 656 

£46 £48 

1672 1649 
296 3 

£98 602 

102 S 992 
7.15 743 

386 390 

249 273 

673 678 

845 Ml 
122 123 

7.91 799 

471 618 

7.14 7.16 

10J8 1193 
349 152 

930 945 
342 343 

631 631 

299 289 

7.15 7.18 

382 389 
792 784 

926 924 
246 245 

775 788 

615 597 

330 329 
£15 £19 

1926 19.14 
741 782 

115 £16 
327 290 

9.90 9.99 

442 444 

1241 1243 

181 178 

624 644 

882 896 

4 J 6 498 

776 772 

785 787 

485 481 

£05 £33 

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£11 £14 

527 521 
199 326 
£26 £04 

£16 £30 

785 771 


Madrid 


BteMtotiC 43171 


PrortogB! 62630 

Acerires 

24900 

74600 

24640 

24670 

ACESA 

2035 

7005 

7035 

2035 

Agum Borcetan 

6430 

6300 

6390 

63KI 

A^entarto 

9930 

4725 

9710 

4670 

9840 

4700 

9760 

4690 

Banedo 

1425 

1410 

1420 

1420 

Breiktater 

8560 

R300 

8490 

8400 

Bco Centro Hhf 

3300 

3090 

326 

3100 

BcoPopwiar 

10210 

10000 

10180 

9990 

Bco Santander 

4745 

4680 

4725 

4675 

CEPSA 

4680 

4600 

469 

4650 

Caretlnrede 

2960 

■gux 

7860 

7M» 

GregMapfte 

7840 

2885 

7660 

7JW> 

7830 

2885 

7710 

7840 

FECSA 

1355 

1315 

1335 

1340 

Gas Natural 

7850 

7430 

7730 

7500 


2095 

7030 

7080 

2050 

Piyca 

2415 

2310 

2350 

2395 

Repeal 

6570 

6490 

6510 

6510 

SevtSacaEtoc 

1455 

1475 

1431 

1445 


11820 

1 1560 

1 1690 

11590 

Tdefoaica 

4625 

4560 

4600 

4585 

Union Fawsa 

1510 

1490 

1500 

1505 

VatancCeroant 

2935 

2880 

2900 

2860 

Manila 


PSE 

tote 197938 


PragtooR T957 71 

A yota - 

14 

1475 

16 

1475 

BkPbfBpU 

16 

l£» 

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1635 

91 

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91 

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CAP Homes 

730 

762 

26i 

ISO 

Mania EtacA 

BQJO 

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8030 

80 

Mete Bar* 

290 27730 

290 777-50 

Petrm 

375 

. 1A5 

w 

340 

pas®* ; 

• 139 

137 

139 

PM Long Did 

930 

910 

925 

920 

San Miguel B 

5430 

5350 

5450 

53 

SMPmeHdg 

620 

6 

410 

6 

Mexico 


Beta 

tote 509433 


piwtwiSiKm 

Aka A 

6160 

6080 

6130 

61 JO 

BanocdB 

21.10 

7070 

71 JO 

21 JO 

CesaCPO 

3630 

35.90 

35.90 

3630 

QtaC 

1796 

1690 

17.06 

16J0 

Erap Modena 

39J0 

3930 

3950 

40 JU 

Gpo Corea A1 

5650 

5500 

55J0 

5530 

GnoFBaaner 

3.17 

3.10 

314 

3.16 

Gpo Rn Eohutsa 
UnbOrekMex 

2230 

.man 

3260 

3770 

3230 

37.95 

3125 

3BJ0 

TeievbaCPO 

15430 15470 

15730 15730 

TelMexL 

2165 

2195 

2160 

2130 

Milan 

MIBTNaSKBCK 1578600 


Pretira 1575409 

AteOBaAsNc 

16800 

16400 

16600 

16700 

BcaGesaa Hal 

5375 

5180 

5350 

5130 

BcaRdeunni 

7840 

7650 

7B40 

7650 

Bead! Ran 

1530 

1480 

1530 

1470 

BenOon 

28250 

27800 

79000 

28000 

Crxfita ttikna 

5360 

5090 

5310 

5065 

Edbaa 

HUSO 

10225 

10310 

10250 

ENI 

9965 

Wl» 

9845 

9885 

Rat 

5I1Q 

4990 

4995 

5105 

GmraaAssic 

40250 

39800 

40250 

39900 

1MI 

193SD 

18900 

19345 

185)0 

INA 

3095 

3050 

3090 

3085 

la- 

6990 

8405 

4AW 

8785 

6885 

fan 

6860 

8300 

Medtabanaa 

13095 

12930 

13070 

12780 


1522 

1507 

1513 

1.01 

OBretfl 

980 

969 

977 

976 

Parmalat 

2575 

2470 

2540 

2570 

PMI 

4615 

4460 

4470 

4545 

RAS 

14200 

1609) 

16085 

16155 

Rato Banco 

25300 

24900 

25360 

25100 


17250 

16090 

1)000 

15790 

lUeanIMa 

11040 

10795 

10870 

11090 

TIM 

7295 

71«S. 

7250 

7340 

Montreal 

tatititti tartee 340945 


Ptomos: 30896 

Be* Mob Cm 

39 

37ft 

37ft 

STM 

Cdn Tire A 
CdnllBA 

31ft 

31 

3130 

30ft 

4035 

43ft 

4035 

40ft 

CTFkrtSK 

53ft 

52ft 

52M 

52ft 

Got Mdm 

1835 

1130 

I860 

1830 

Gt-Wex) UFecn 

3A4 

3570 

36ft 

3565 

IrocscD 

5TU 

Wffl 

5UJ) 

51 ft 

liwetaaGra 

47.90 

47.90 

4790 

43U 

LoUtnrCos 

2480 

7460 

74J0 

24-65 

NtiBkCrentkr 

25.15 

2360 

2460 

23.90 

Power Carp 
Power Rm 

48ft 

47ft 

47 JO 

47ft 

46ft 

4630 

44ft 

4630 

Quebea^B 

28.10 

77 JO 

77 JS 

27 JO 

RoocnCrerenB 

660 

660 

640 

635 

Royal BkCda 

1190 

79ft 

8030 

79 JS 


Paris 


Accor 

AGP 

AJrUqulde 

AktidMdh 

Axo-UAP 

Baraka 

BIC 

BNP 

Canal Plus 
Crerefcur 
Cteno 
CCF 


Christian Cfer 

CtaSApfczti 

Do none 

Dado Fran 

Eff-AquHotae 

EridoalgBS 

Eurxfeney 

E urot unna 

Frjice Telecom 

GeaEmn 






Alias Copco A 

259 

252 

25230 25630 



Autoliv 

293 290-50 

797 

793 



BKtaiuxB 

637 

628 

678 

633 




' 

Ericsson B 

31 £50 3 B 43 D 

307 

315 

1175 

1127 

1133 

1157 


20030 

196 

200 

200 

331 

32630 327 JO 

32960 

Homes B 

359 35150 35430 

360 

946 

9 Z 7 

940 

930 


714 

706 

706 

715 

787 

764 

782 

764 


385 

377 

377 

381 

45470 44830 

457 

449 

MoDoB 

221 

219 

219 

221 

996 

944 

989 

94 ] 


28130 

278 28130 

281 

439 

420 4 K 80 

435 

SaoitrikB . 

258 

•249 25130 25330 

32870 31330 32280 31360 

5 atiaB 

187 

177 

179 

185 

1014 

991 

1000 

1010 

SCAB 

184 

177 

177 

m 

3089 

3051 

3066 

3064 

5 -E BankenA 

94 

92 

9230 

9330 

336 J 0 33460 33680 

. 335 

Skmfia Fats 

417 

404 

409 40830 

£2 398-10 

4)7 

400 

SkreakaB 

33030 

327 

327 

324 

846 

B 10 

843 

804 

SKFB 

179 

173 

175 17830 

638 

624 

635 

632 

StoraA 

W 3 

9930 10030 

99 

1150 

1116 

1116 

1125 

SvHrenfcHA 

300 

274 

292 

29 U 

998 

990 

994 

994 

Vtahua 

22450 

220 22030 

222 


Lafarge 

LCQnxzl 

d 

LVMH 

Wcfaefc iB 

PorftasA 

Period Rfajrd 

Peugeot <2 

nndMW 

Proroodes- 

RenauN 

Rati 

Rbpootenc A 
Soresfi 


n 

nEoux 



492 6 » 691 

698 687 697 

977 999 969 

745 7.10 725 

630 610 620 

218 21610 21739 

799 776 780 

425 415.30 42280 
714 70 S 714 

39180 30620 389 

1200 1169 1200 
23 S 7 2275 2320 

1065 1030 1060 

333 32180 325.10 
49870 46790 49240 
324 32040 322 

742 718 719 

3238 3131 3201 
2355 2326 23 SJ 

182 17770 178 

1850 1825 1825 
275 26780 27280 
610 994 599 

34480 33230 33640 
no goo an 
411 392.10 39880 
852 825 846 

3360 3305 3320 
84 ] 827 838 

1£95 1 S 9 S 1595 
654 646 651 

784 799 760 

176.50 163 17580 

625 615 622 

93 0990 91 

421 40870 41580 


£80 

970 

745 

635 

71780 

797 

417 

713 

387.10 

1180 

2299 

1030 

33270 

46180 

323 

719 

3159 

2329 

17990 

1850 

26880 

610 

330 

an ■ 

407 

-825 


1540 

650 

784 

165 

614 

9235 

412 


Sao Paulo 


SHk WI 4.17 

PreriooB M8789I 


BndeseaPM 

BmfaroaPM 

Canto PM 

CE5PPW 

Copel 

Bdrobras 

BuutnraPM 

UgMSetidos 

Ughhxr 

SrrtasPM 

PouSstaLuz 

SdNadati 

SanaOuz 

TetafarosPfd 

Tetamie 

Teta| 

TetaspPM 

UntoaDCD 

Ustadnas PM 

CVRD PM 


985 

72080 

4980 

7280 

1374 

53880 

51380 


28999 

76480 

14680 

3080 

8450 

125.00 

12799 

112850 

319.99 

4080 

780 

2050 


890 985 

71080 71080 
4880 48810 
.6980 6999 
12.90 1290 
52 B 80 

50600 51081 . 
40582 

28080 289.99 
25580 26000 
1-050 14480 
3280 3270 
MO M 5 
12282 12240 
12499 12499 
10480112850 
30880 31480 
3199 4000 
675 677 

se w 2040 


980 

72580 

4980 

7280 

13740 

53980 

50600 


29080 

26580 

14980 

32.50 

845 

12670 

13680 

11550 

32480 

3980 

490 

3075 


Seoul 

Doom 

Doewoo Heavy 

KoresaPar 
Knas Each Bk 
LjGSetioui 
PotwnglrooSt 
SoaEonq Oktay 
5 — unoElec 
JiMnrteiBank 
SKTeiecnm 


64000 59800 
5490 5060 
10300 9000 

6640 

15500 15000 
3890 3690 
17500 16300 
49000 46300 
33500 32200 
41200 39100 
7300 6840 


41481 

£9800 6 S 000 
5060 5490 

9600 WOO 
6640 6150 

15000 16300 
3690 4010 
16400 17500 
*5300 50300 
32200 35000 
39100 42400 
6840 743 S 


Singapore stra ta itaes 1734 2* 

Pratoes : 175243 

Aria Poe Brew 
Crates Poe 
CBy Deeds 

busy ram Mu 


Dotal 
DBS foreign 
DBS Land 
FnBcr&Neave 
HKLand' 
JordAUhesn* 
Ja id Strategic' 
KemieiA^ 
Keppri Bank 
KewdFeb 
lUmd 


Oslo 

AfesrA 

BeraeseaDyA 

OvUtiioBk 

□ere untie Bk 

Elan 

HofaJund A 

Kroerner 

NorWHytte 

Nuria Sto pA 

rtyanedAinar 

OrideA 

PefknCteSrC 

SogoPeftn A 

Scflbsted 

TronseoeanOff 

Stanbrond 


0BXtedac<9I86 
Pmtoos: 68693 


134 131 

19 UD 19230 
MJO 2770 
■ O S ) 3530 
99 97 

45 45 

394 382 

38650 379 

227 223 

187 185 

639 633 

» -473 

139 137 

119 125 

3 U 367-50 
51 50 


132 13080 
19250 192 

2770 27 JO 
32 3270 
98 98 

45 44 

386 387 

379 saoj? 
223 223 

186 187 

615 640 

472 470 

137 138 

TZ 7 129 
368 350 

50 50 


OS Union BkF 

Partway Hd gs 

Stag Airfare^ 
Stag Land 
Stag PiesF 
Sing TeeB tod 
SlngTeteQBira 
Tal Lee Bank 
UMIndustrid 
UMOSeaBkF 
WhigTaiHdgs 
rrrtt/JLdaaob. 


488 480 

£ 476 

£75 830 

785 7.10 

£97 £87 

17.10 1£90 
276 289 

985 9.10 

139 2.15 

STD £98 

275 288 

575 £46 

295 7-96 

470 488 

283 280 
1170 15.50 
785 6 JO 

4 jW 37 B 
£55 585 

1110 11J0 
470 482 
2350 2280 

1.78 188 

3.18 110 

276 288 

0 L 74 073 

1180 11.10 
220 2.13 


£55 

775 

292 

985 

2.16 

£98 

274 

£50 

295 

470 

190 

II 

685 

482 

5_j0 

1180 

486 

2280 

170 

xn 

274 

£74 

1 IJQ 

113 


470 

5 

£45 

16-50 

192 

97S 

175 

£15 

175 

£75 

286 

472 

280 

11.10 

685 

376 

£50 

12 

472 

2110 

175 

372 

287 

074 

UJO 

2.18 


StOCkhOim SX 16 treks: 331 £ 3 S 

Piwtoas 33 S 272 

AGAB IBS® 10250 103 10650 

ABBA 9 B 97 97 97 J 0 

A^Dontoi 207 706 W 7 706 

AriraA 142 13 BJ 0 139 1 79.50 


Sydney 


Afl Ontario: 25 SJB 
PmtoasHOM 

Amcor 

£85 

£75 

£84 

£83 

ANZBUng 

1 QJ 2 

1070 

1070 

107 B 

BHP 

1462 

14,74 

1472 

T 460 

Bond 

190 

376 

3 J 9 

378 

Brandies tad 

2860 

was 

2865 

2835 

CBA 

1730 

17.13 

17.18 

1770 

CC Amti 

1175 

10.98 

11.15 

It 25 

Cotes Myer 

732 

779 

763 

791 

Grenaicn 

679 

£22 

£27 

£30 

CSR 

£03 

4.99 

£03 

£07 

Fosters Brew 

278 

272 

276 

2.78 

Goodman Fid 

271 

2.17 

733 

732 

Id Austria 

11 . 10 , 

11 

1110 

11 

Lend Lease 

3170 

30.90 

3173 

31 

MlMHdgs 

NatAustSre* 

1.19 

21 

1.16 

2070 

1.18 

3070 

1.19 

70 L 85 

KatMutud Hdg 

261 

275 

277 

138 

Nows Carp 

£46 

878 

865 

878 

PadBcDatoop 

177 

378 

373 

333 

Ptoneerlntl 

4 J 2 

3.96 

338 

3,98 

Pt#i nmntlrqd 

875 

89 

875 

869 

RtaTbrio 

17 J 5 

1768 

1779 

176 J 

SGeregeBank 

£71 

860 

863 

£71 

WMC 

. £18 

491 

SM 

£12 


967 

1172 

960 

11.13 

963 

1170 

968 

1175 

WDOtaalta 

4 J 2 

469 

469 

4.81 

Taipei 

Stock 

MOM tote 823369 
Prates: 8402.17 

GottuyUteins 

163 

140 

140 

13830 

Chang HwaBk 
OliaaTungBk 

94 

7330 

91 

70 

9130 

70 

9130 

7730 

Chtao Dowtpoit 

98 

9230 

9230 

9530 

CUna Steel 

2560 

24 <31 

2430 

2460 

First Bank 

9130 

91 

91 

9130 

Fonoosa PkaSc 

60 

58 

59 

3930 

HaaNanBk 

9830 

9530 

9530 

9630 

hit Own Bk 

5530 

54 

54 


NonVbPtasScs 

58 

56 

5650 

5730 

SMnKangLBo 

9730 

94 

94 

9330 

TdwanSemi 

131 

126 

126 


Tatung 

Uta Wan Elec 

3870 

7560 

3670 

7230 

3670 

3730 

UW World ate 

59 

56 

56 

58 


Tokyo 

AtenreriD 

AAMpponAIr 

Amwar 

AsaM Bank 

Asti Onto 

AreMGkm 

Bk Tokyo JWbu 

BkYMnfaasa 

Bridgestone 

Cancel . 

QwbuBec 

QremetoEfec 

Dal Ripp Print 

r vin 

OaMcNKang 
Oaten Ba* 
Dahro House 
DohiuSec 
DDi 
Denso 

EastJctai Ry 
Ete oi 
Frenc 
I Baric 
■ Photo 


NBH 225 b 1440181 
: 1413187 


Pul Bar 


HodmuriB* 

• ■ ■ 

iwun 

Honda Malar 

IBJ 

IH 1 

Uadw 

B&-Vofauto' 

Janan Tobacco 
Jusca 

Kata 

KansdQec 

Kflfl 

Kawasaki H*y 
Kcnro Steel 
OtiMppRy 
KMnBreeery 
Kobe SMI. 

IfMIHtoll 

Kobota 
Kyocera 
KpriW&c 


MOM 

MntW Orema 

AktiaEtaetad 

Matsu BecVA 

MtaubeN 

MBwbatiCh 

MAsUbiSMB 

/Wn^Est 

MbubUiiHvy 

MBsufareMMcri 

MIBaUririTr 

Mitsui 


. 1210 
573 
2670 
562 
547 
795 
1850 
357 
3090 
3350 
1990 
I 860 
2 560 
590 
999 
330 
949 
471 

3470 a 

S 87 CO 

1920 

5070 

687 

5030 

1*0 

ion 

957 

5000 

1150 

240 

289 

6110 

sn 

990 a 

3130 

434 

2120 

1780 

HA 

192 

701 

994 

112 

765 

430 

6240 

1900 

234 

275 
7010 
3870 
19 K 
1040 
1040 

276 
345 

1640 

536 

416 

1500 

. 00 - 


1170 

555 

2440 

533 

SI 6 

743 

1790 

350 

2950 

3290 

1960 

1 B 40 

2500 

540 

965 

316 

9Z7 

■450 


5820 a 

ion 

4960 

653 

400 

1460 

1050 

940 

4910 

1130 

29 

272 

5900 

3U 

9430 a 

20W 

416 

3070 

1750 

257 

185 

695 

960 

106 

745 

416 

6140 

I 860 

223 

266 

1950 

3840 

1930 

1010 

1020 

215 

328 

1590 

505 

408 

1540 

861 


1210 1150 

573 555 

2470 2440 

555 526 

525 540 

766 745 

1840 1770 

354 3 S 0 

2970 2990 
3350 3260 

1980 I 960 
1860 1830 

2540 2470 

590 525 

980 955 

327 311 

947 927 

451 405 

3430 a 3410 a 
2460 2400 
58706 5800 a 

1900 1 BS 0 

4990 4900 

6 TO 643 
4930 4800 

1470 1440 

1050 1050 
«5 940 

4960 4890 
USD 1120 
»8 UO 
279 2 J 2 

6100 S 90 Q 
375 380 

9550 a 9480 a 
2110 2060 
434 414 

2100 2100 
1780 1750 


262 

188 

m 

981 

109 

765 

m 


258 
176 
699 
932 
106 
737 
401 
6170 6090 
1870 1890 

% % 

£2 SS 

1940 1970 

1030 iooa 

1040 1010 

29 sm 

.337 378 

1640 1540 
518 496 

1570 1500 

8 H 881 


Tim Mb Index 

Pricea as ef 3.00 PM. New Yor\ time 

Jon 1. 199S=> 100 

Laval 

Change 

%chonge 

year to data 





% change 

World Index 

174.07 

— 0.02 

-0.01 

+ 16.71 

INgtool Indexes 





Asta/Puafk; 

101.12 

+ 1.44 

+ 1.44 

— 18.08 

Europe 

192.51 

-0.08 

-0.04 

+ 19.42 

N. America 

21924 

-053 

-0.42 

+ 3556 

S. America 

T49.70 

— 2.13 

-1.40 

+ 30.82 

Inriustrtol Indexes 





Capital goods 

21^83 

-2.14 

-058 

+ 26.38 

Consumer goods 

20723 

+ 0.46 

+ 022 

+ 28.37 

Energy 

196.80 

— 059 

-0.30 

+ 1528 

Finance 

125/46 

+ 159 

+ 0.88 

+ 7.73 

Miscesaneoiis 

15721 

-Z01 

-126 

-2.38 

Raw Materials 

172.30 

-0.65 

— 058 

-1.76 

Service 

173.44 

-0.67 

-0.38 

+ 26.30 

imtias 

163.93 

+ 0.06 

+ 054 

*1427 

The tntamattonal Harold Tribune WbrU Slock Index O tracks the U S. dollar value 

of 280 inemationssy Investabb stocks from 25 countries For more ofamatxxi. 

a fmebocMet ts avattWe by writing to The TV* Index. 181 Avenue Chartes 0e 

Gauss. 92521 NeuSy Cedex, Francs 


CampSedby Bloomberg News J 

Wgft Law 

dose Piw. 


High Law 

Clue Prw. 



SeUsuii 

Sekisai House 
Sareit-Etaven 
Strap 

SMkekuEIPwr 1680 

5 Umau 430 

SravebuOi 3150 

Stetido 1800 

StountaBk 1280 

Softbank 2900 

Sony • 12200 

Sarodono 830 

SuaErenoBfc 1580 

SrenBCten 390 

StanftomoElec 1750 

Sunlit MeM 240 


Sutnd T rent 
Taisln Rujiu 
TokedaOwn 
TDK 

TctekuEJPwr 
Totori Bank 
Tokto Mretoe 
TokroSPwr 
TokyoEtedron 
To**n Gas 
TokyuCwp. 
Tonen 

TitopanPrW 

tW 

Tcntem 
Tayo Trent 
Toyota Motor 
Yantanaochl 

Kxmttxum 


812 

32W 

3780 

10900 

1900 

693 

1180 

2270 

5790 

299 

531 

940 

1740 

606 

540 

1270 

816 

3770 

3in 


1640 

13500 

445 

3070 

1400 

345 

7800 

5800 

820 

370 

9020 

640 

1850 

407 

3050 

1770 

1220 

2790 

11900 

811 

1550 

374 

1720 - 

233 

790 

3250 

3740 

10700 

1870 

662 

11* 

2220 

5480 

287 

519 

913 

1680 

585 

£77 

1190 

795 

3680 

3150 


1390 1300 
257 251 

3820 3910 

1400 1360 

1510 1440 

428 400 

13200 13300 
624 671 

4)1 387 

205 201 

506 500 

122 114 

1640 1620 

-inn 1080 b 

6990 b 6910 b 
504 485 

295 235 

1680 1620 
13600 13300 
445 426 

3090 3060 

1440 1390 

359 347 

7990 7630 
5990 5800 
B 32 874 

8n 875 

9190 9 ffl 20 
860 830 

I 860 1 B 4 Q 
410 398 

3140 2990 

1800 1790 
1270 1220 

2790 2830 

12200 12000 
828 798 

1590 1530 
378 380 

1740 1710 
239 223 

ffio m 

3290 3200 

3780 3750 
lima 10600 

1900 1870 

483 -657 

1150 1120 

2250 2200 
5740 5310 
297 296 

523 S 23 

930 902 

1730 1670 
595 5914 

536 528 

1220 1190 
813 790 

3720 3640 

3180 3130 


Toronto 

AbflbiCons. 

SHIS" 

HTSSE®" 1 

BkNonScoGo 

BrenchGdd 

BCE 

BCTriecsaua 
Btotten Ptara 
BcnbanlerB 
Cameoo 

a&c 

CdnNoHRofl 

CdaNatRas 

C*OcddPrt 

DOftECC 

Don tar 

Dorobue A 

Du PoatCdoA 

|<to«8nsan 

EuroNevMng 

FaktaRri^ 

griponbridoe . 

RekherCboBA 

FrerotNewdo 

GdfCdaRes 

kagerkriOB 

loco 

1 

Laewan Group 
Moan# Bldi 
Magna MA 


75E lutoslrtols: <78£58 
Pro— S. 6717J1 

2070 20.20 2£45 2Q40 
l£90 2ta 28AS 2BH 
-41 4055 40.70 4070 

IMS 1140 1170 U70 

«« «« «£90 67.90 
2270 71i% 7130 

4£1S 4680 4^5 47* 
■"i! ^ 4,14 4£IS 

„40 39.10 40 40 

29.90 

49-80 49 JO 49J0 47Vi 

g ^ ^ 

^ SMS 

1 $ IS &8 

2260 22 JJ 2240 22J5 
l0 ' 4S 101? 
IS 25W JSVr 

_35to 34to 35 ■ 341* 

S ® §£ JS 
«?5 ,3 ^ 

wo 2X65 SSS S3 

Uj* 11.10 1L1S 1IJ0 
£-35 8690 87 JO p 

W ^ SS iJ 
ss 'H as «a 
« «& d fi 


338 

17.95 

» 


Metwnex 

Moore 

Newbridge Nri 
Noronda toe 
Nanai Enagy 
Where Teiacarn 
Novo 
OfW 

PcncdnPeto 

PstroCdo 

PlacarDrene 

RocoPeOro 

Potash 5oti 

Remksreioe 

RtoAigarn 

Rogers GanMB 

5 esreanO> 

ShrfCdaA 

Suncor 

TaBsnmEni 

TeckB 

Tdegtobe 

Teka 

Thomson 

TorDaro Bank 

Tronic Ha 

TroresCdaPtoe 
Trtrocrt Rrt 
Triioc Hahn 
TVXGoid 
Wesieoast Eny 
Weston 


12 V. 12 J 0 
2230 2240 
55 5585 
2540 2 £S 5 
16 ^ 1720 
13615 138 

13.10 13 J 0 
29 M 30 

2235 24 

2740 27 V* 

14.95 15.10 

1140 IMi 
115 to 117 ft 
2970 30.15 
26 U 2660 
1270 1270 
4540 45.55 
2770 2740 
4735 4740 
45 4680 
19 ft 19 ft 
45 ft 4605 
31 ft 3280 
3785 38.10 

5265 5690 
XS5 20.95 
3£90 30.95 


1240 
2245 
60 
25.95 
1770 
140 ft 
1330 
3070 
24 
2775 

1555 

UJO 
118 ft 
3£55 
26 ft 
1210 
46 
2740 
49 JO 
46 ft 
20M 
46 ft 
3295 
38 ft 
SSft 
21.05 
31.10 

« 9 ft _ 

35.15 3690 35.15 
344 130 240 

3230 3205 33 ft 
114 ft 11615 114 ft 


12ft 
22ft 
60 ft 
2545 
16ft 
I 4 U 5 
1220 
2985 
Z 2 M 
27 JO 
1540 
1110 
115 ft 
30.10 
26 Vj 
1370 
45.80 
27 ft 
49 
4&05 
7040 
463 S 
3140 
39 
5290 
20.65 
31.05 
68ft 
35 
265 
3215 
114 


Vienna 

**N*-ym eb 845.90 

eaS2£S“ 

55r fa,Wta, 1 ^|g 

VATedi _ 2 iQ, 
Werrwteg Bou 2518 


ATXmdrecl 323 J 8 
Prreriees: 138376 

820 845 820 

61£10 620 635 

3160 3260 3190 

1620 163 S 1620 
SMJD 50650 51140 
17S) 1800 I7S0 

1001 1010 1007 

517 52650 52080 

2025 2095 2025 

2475 2507 2490 


Wellington iasE^ 0 Mo; 24 i« 

Praetaas .- 702 

AbNZerddB 
Briatybwl 
Carter HoUcrd 
Bek* ChBUq 
B^hOiEny 

HeWiCh Ford 
flehliQi Paper 
Lion Nathan 
TdeoreaNZ 


138 

378 

337 

175 

173 

175 

268 

260 

?*5 

461 

£58 

43 B 

634 

660 

660 

139 

135 

135 

272 

279 

230 

192 

187 

192 

£90 

£85 

£87 

1060 

1060 

1060 


Zurich 

ABBB NJ 8 

AtaSteR i£s 

gQCT.Hdg B 2S5 

gj**HdgR 3795 

BK Vision u /8 

S£5SIt”b 

TOM 

^Hdg 39oo 

HpWorijankB isgg 

564 

tewR 3138 

WwgrtBR 2362 

'Jrgesa WdB i *20 

PbomVhcB 

Rtatvteart A 

pScpc A 


SPItadtte 388255 
ProtiMs; 310047 


i 860 

1625 


SS^'C wB 

SMHB 
SuterR 
SwastoasR 

WtatorthurR 

Zurich AsmjtR 


481,50 

1690 

2699 

850 

950 

2425 

-1997 

2214 

1600 

649 


1929 

415 

1350 

7450 

780 

2505 

2700 

1451 

160 

mi 

222 

541 

6990 

3775 

1261 

560 

2092 

2327 

197.75 

1795 

855 

1570 

310 

13205 

468 

1665 

2605 

840 

922 

2351 

1986 

2150 

1590 

636 


1941 

415-50 

13 S 2 

2470 

820 

2530 

2745 

145 ® 

in 

1170 

226 

550 

7000 

3840 

1265 

564 

2105 

2336 

200 

1500 

tea 

1995 

310 

13300 

475 JO 

1675 

2*95 

847 

93 S 

2417 

1998 

:i<6 

1600 

639 


1940 

429 

1358 

2no 

1458 

16040 

un 

22 CL 50 
550 
7040 
3785 
17 * 
559 
21 JJ 
2350 
19975 
1810 
art 
1590 
311 
1305 
47 ? JO 1 
1690 
2700 
847 
950 
2355 
2000 
2145 
1609 
639 





A COMPANY THAT SURPASSES 
THE LIMITS OF SPEED HAD TO 

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1 


PAGE 20 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 10, 1997 



ASIA/PACIFIC 


Exhorting the Ranks 
At Hyundai Pep Fest 

Double Exports , ? 1,000 Executives Shout 


By Don Kirk 

— to the He, aid Trilwtr 

SEOUL — They sang the com- 
pany spng. They waved clenched 
nste^They shouted slogans. 

Then the 1 ,000 owners, directors 
and top executives of Hyundai 
Group, the largest chaebol, or con- 
glomerate. in South Korea listened 
to Chairman Chung Mong Gu fire 
them up for the “crisis" confront- 
ing the country’s business and in- 
dustry. 

The main message from Mr. 
Chung and his lieutenants in the 
Hyundai Group: South Koreans 
must export their way out of the 
economic and financial morass that 
has forced them to turn to the In- 
ternational Monetary Fund for a 
bailout 

“Hyundai has to raise the flag 
high to contribute to the develop- 
ment of the Korean economy.” Mr. 
Chung said Monday, raising his Fist 
as he addressed senior executives 
in the company's headquarters. 
“Many big companies are bankrupt. 
The management crisis has become 
more serious.” 

Park Se Jong, president of the 
trading arm Hyundai Corp., opened 
the rally by reading a “letter of 
determination.’' 

The central message: “We have 
to increase exports to tide us over 
our difficulties.” 

The rally epitomized rhe manner 


in which many South Korean groups 
and companies are trying to fire up 
their woricers as they fight to pay off 
debts and survive in an increasingly 
tight economy. 

Mr. Chung foresaw good emerg- 
ing from the bad. 

“If we make every effort to dis- 
card our loose thinking." he said, 
“then we can make this crisis a 
chance to gallop.” 

Mr. Chung linked the sloganeer- 
ing and speech-making to another 
practical message. Hyundai, he said, 
is cutting investment for research 
and development as well as facilities 
by 30 percent next year while slash- 
ing the two-month bonus paid to 
executives. 

At the same time, Mr. Chung said 
that Hyundai would increase profit 
from business overseas next year to 
S17 billion from $12.1 billion in 
1997. Total sales, he said, would 
reach about $90 billion in 19 98, up 
14 percent from the current year, 
thanks largely to sales abroad. 

Hyundai's announcement of a cut 
in spending made it the third of the 
“Big Four" chaebol to announce 
reform measures since the Interna- 
tional Monetary Fund put together a 
$60 billion bailout package for 
South Korea, provided that the gov- 
ernment close down weak banks and 
companies and open fully to foreign . 
investment. 

In a rescue bid. South Korea's 
fourth-largest chaebol, Daewoo 



Ckun ’l i<on K>nf/Apcihr FnctficM 

THE WON STOPS HERE — A teller at the insolvent Coryo 
Securities & Investment Co. of South Korea trying to calm 
investors as they sought Tuesday to withdraw their deposits. 


Group, agreed Monday to purchase 
53.5 percent of Ssangyong Motor 
Co. — and take over about $1.6 
billion of the automaker's $2.8 bil- 
lion debL 

The purchase included most of 
Ssangyong Group's shares in the 
company, leaving the balance in the 
hands of a number of minority 
shareholders. 

“Daewoo's takeover of Ssang- 
yong Motor is the first friendly mer- 
ger and acquisition after the IMF 
rescue package.” said Kim Tae Jae, 
chairman of Daewoo Motor Co. 
"This will contribute to South 
Korea's restructuring." 

Mr. Kim said Daewoo Motor 
planned to increase exports next 
year to $17 billion from $15 billion 
this year. 


The president of Hyundai Motor, 
Park Byung Jae, led the slogan- 
shouting at the rally in the Hyundai 
headquarters. 

“Double our efforts to overcome 
economic difficulties.” he shouted, 
waving a fist as the executives and 
managers shouted back his slogans. 
“Double exports." he shouted. 
“Save costs," was another exhorta- 
tion, all yelled over music supplied 
by a brass band beneath banners 
spelling out the slogans. 

Hyundai's rally of its executives 
appeared as the most spirited effort 
of any of the chaebol to drum up 
group spirit in the face of adversity. 
Both Samsung Group and Daewoo 
Group, however, have also an- 
nounced cost-cutting measures, in- 
cluding cuts in executive salaries. 


Japan Banks That Ventured Abroad Come Back Home 


8/i»wi/vo; Aim 

TOKYO — When Hokuriku Bank Ltd., a 
small lender based in the central Japanese city of 
Toyama, announced it was “coming back home" 
and shutting its branches in New York. London 
and Hong Kong, it was the latest in a wave of 
Japanese banks to withdraw from overseas. 

And it was yet another sign that many Japanese 
lenders, saddled with trillions of yen worth of bad 
loans and pressed to reduce their assets, are 
shrinking from their role as major players in 
international finance. 

“We were the princes of capital, and we 
believed we were almighty." said Kaneo Mur- 
omachi, senior managing director and head of the 
international division of Sanwa Bank Ltd., re- 
calling the late 1980s. when Japanese banks 
expanded around the world. 

Today, as the lenders increasingly compete 
with foreign banks at home and Japan dereg- 


ulates its financial markets, withdrawal from 
overseas is increasingly an option. 

The list of banks that have pu lied back from the 
global arena this year includes some of the 
biggest names in Japanese finance: Hokkaido 
Takushoku Bank Ltd., one of 10 nationwide 
lenders, Nippon Credit Bank Ltd., one of three 
long-term credit banks, and Ashikaga Bank Ltd., 
one of the largest regional lenders. 

Last week, Sumitomo Bank Ltd., Japan's 
second-largest bank, said it was considering 
selling Sumitomo Bank of California, the state's 
Fifth- largest bank. 

Other Japanese lenders are slimming down their 
businesses in the United States and Europe while 
expanding or maintaining their Asian branches. 

In the six years to 1987. Japanese banks 
doubled their loan assets at overseas branches, to 
40.6 trillion yen ($313.03 billion) from 19.4 
trillion yen. By 19S6, they had become the 


world's biggest lenders, according to the Bank 
for International Settlements. 

Then, in 1990, the Japanese asset bubble burst. 
During the last seven years the benchmark 
Nikkei 225-stock index has lost almost 60 per- 
cent of its value, while property prices have 
plunged 70 percent in urban centers. 

That has left banks, which count profits they 
see on stock holdings as capital, with big dents in 
their capital- to-assets ratio. It also left them with 
an estimated 28 trillion yen worth of bad loans as 
of the end of March. 

The deputy director of the Finance Ministry’s 
banking bureau. Sci Nakai, said the ministry, 
which regulates the industry, would step in be- 
fore any bank defaulted on foreign clients. 

Even the top 19 nationwide banks, which had a 
total of 364 overseas branches or offices at the 
end of March, will not all be able maintain their 
positions abroad, analysts say. 


Rupiah Falls 
As Suharto 
Lays Low 

GwgHMfrv Ax FhmDifmrkt _ 

JAKARTA — The rupiah 
plunged to a record low against the 
dollar Tuesday; shaken by concerns 
about President Suharto's health and 
amid continued corporate demand 
for dollars to repay foreign debt 

The dollar hit 4. 600 rupiah, up 450 
rupiah from an opening of 4, 150'nipL- 
ah, before finishing at 4,175 rupiah, 
up from 4,025 rupiah Monday. 

Dealers said it was the largest 
single-day. plunge ever for the cur- 
rency. They said rumors about Mr. 
Suharto's health started in Singa- 
pore and spread to Tokyo, where the 
rupiah fell sharply. 

State Secretary Murdiono and 
Mr. Suharto’s son denied the rumors 
and said the president was in good 
health and resting at.home. 

But the absence of pictures of Mr, 
Suharto in the Indonesian press — a 
feature on most days — caused 
many investors to doubt the official 
version. On Friday, Mr. Murdiono 
said the president, 76, had canceled 
a trip to Iran and begun a 10-day rest 
on medical advice. 

Mr. Suharto has ruled Indonesia, 
the world's fourth most-populous 
nation, for more than 30 years. But 
with no clear successor, investors 
are concerned about post-Suharto 
Indonesia. 

“There’s a convergence, of 
factors," said Derrick Lee, analyst 
at MCM Pacific Co. in Singapore. 

4 - The fall was sparked by the lack 
of official statements from the gov- 
ernment" on Mr. Suharto’s health, 
he added. 

Mr. Suharto underwent a medical 
examination in Germany in mid- 
1996 and was given a clean bill of 
health. But financial markets have in 
the past reacted strongly to any hint 
that he might be unwell. 

Mr. Suharto is widely expected to 
seek a seventh five-year term in 
office in elections next March. 

Hie plunging rupiah signals more 
trouble for Indonesian companies, 
which have more than $65 billion in 
foreign debt, a large portion of it not 
protected against the currency's 
drop. 

Expectations of lower interest 
rates have not helped the rupiah as 
they make the currency and rupiah- 
denominated securities less attract- 
ive to investors. The one-month in- 
terbank interest rate fell to 21.636 
percent from 21.727 percent Mon- 
day: most other interest rates remain 
high but are expected to comedown, 
traders said. (Reuters, Bloomberg ) 


Investor’s Asia 


■ Tokyo 
.. bRkk£ri225 



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s o n D 

1997 

Tuesdaj? PPev. 

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iyTT 3C ;2 :r ^402.4? +&& 

3391.59 3;468/?9 -^l 


Imfmaiiiiitil Mi'i-ilJ TnUin: 


Very briefly: 


• Hitachi Ltd. and SGS -Thomson Electronics NV will de- 
velop a 64-bit microprocessor for use in digital still cameras and 
other consumer products. Separately. SGS-Thomson predicted 
a 17 percent annual increase in the world market for integrated 
circuits in consumer electronics, from $28 billion in 1996. 

• United Engineers Malaysia Bhd. and its parent company. 
RectoogBhcL, have asked the Kuala LumpurStock Exchange 
tocondnue its suspension of trading in their shares, which began 
Nov. 25 after United Engineers said it had paid 2.3 billion ringgit 
($627.6 million) for a 32.6 percent stake in Renong. 

• The Kuala Lumpur exchange will begin trading stocks a 
half hour earlier, at 9:00 AM., starting Monday. 

• PT Multipolar Corp r the retail aim of Indonesia’s Lippo 
Group, posted a 35.3 billion rupiah loss ($8.8 million) in the 
first nine months of the year, as interest expenses and foreign- 
exchange losses rose. It made a profit of 2.36 billion rupiah in 
rhe like period last year. 

• Datacraft Asia Ltd. of Singapore, a telecomm unications- 
network builder, is buying a Hong Kong-based rival. UCS 
Communications LUL, for $7.3 million in a bid to expand its 
operations in China. 

• Samsung Motors Inc. plans to begin exporting cars to 
Southeast Asia, Latin America, the Middle East and the 
Pacific Rim in die second half of 1998. 

• Japanese shipments of personal computers are expected to w 
total 8.1 million units this year, up 0.1 percent from 1996, 
according to JDC Japan', a computer-industry research firm. 

• China's gross domestic product is expected to grow 9 
percent this year, while retail price inflation will be a modest 
1 percent, the China Business Daily quoted Qiu Xiaohua. chief 
economist of the State Statistical Bureau, as saying. 

• PT Astra Agro Niaga's shares rose !9percent intheirdebut 
on the Jakarta stock market, to 1,850 rupiah (45 cents), as 
investors flocked lo the palm-oil company. 

• Cathay Pacific Airways Ltd/s chairman. Peter Sutch, said 
the slump in air passenger traffic would likely last for another 

12 tO IS months. Blvoirthtn;. Hewers 


* 5 : 


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KODAK: Testing the Boundaries of Law to Protect Trade Secrets 


Continued from Page 13 

base of news articles in 1970, 
Mr. Hailigan said. In 1996. 
there were 220 reported cases 
and 4,303 citations of trade 
secrets, he said. 

The new economic espio- 
nage law was not around 
when Kodak began pursuing 
Mr. Worden and his clients. 
So Kodak is using the federal 
anti-racketeering statute to go 
after 3M and Imation, the 
same approach General Mo- 


tors Corp. used when it ac- 
cused former employees, in- 
cluding its one-time 
purchasing chief, Jose Ig- 
nacio Lopez de Arriortua. of 
pilfering trade secrets when 
they left GM for Volkswagen 
AG in 1992. 

Mr. Lopez, who has denied 
guilt, resigned from Volks- 
wagen last year, and Volks- 
wagen agreed to pay GM 
$100 million, buy $1 billion 
in GM pans over seven years 
and express public “regret" 


over the incident. For such 
companies as Kodak, GM. 
Coca-Cola Co. and Intel 
Corp;, deeming some of their 
processes and formulas as 
"trade secrets” is a better 
way to guard against theft 
than the routine method of 
filing for a government pat- 
ent. Patents, corporate law- 
yers have long complained, 
take too long to file, offer too 
little protection and alert 
competitors to too many 
secrets. 


The Living Legend 



^flelRsP 


gerald genla 

19, rue de Saint-Jean - case postale 120, CH-12U GENEVE 18 
TeL(41 ) 22 344 87 20 - Fax (41) 22 345 14 88 




“Kodak happens to be a 
company that relies to a pretty 
fair degree on trade secreis." 
said Kodak's chief counsel. 
Gary Van Graafeiland. Oth- 
erwise “you create a road 
map for your competition by 
the patent applications that ft 
you file." v 

Mr. Worden sold off much 
more than a road map. Kodak 
charged. His last five years at 
Kodak were spent overseeing 
the development of its secret 
401 machine, which was sup- 
posed to help the company 
beat lower-priced rivals with 
higher-quality film. Mr. 
Worden even took p:ui in an 
internal debate over whether 
to file for patents or keep the 
technology as a trade secret 

But despite Kodak's best 
security efforts, it says Mr. 
W'orden sold 3M and Imation 
most of the essential details of] 
Kodak's latest film-manufac- 
turing technology. 

FBI agents, after raiding 
his borne in South Carolina, 
found boxes of Kodak doc- 
uments marked "confiden- 
tial.” blueprints and fax rec- 
ords that Kodak says show 
Mr. Worden was selling the 
information to clients, includ— j 
ing 3M. And Mr. Worden's- 1 
successor at Kodak. Kurr 
Strobl. was fired after Kodak 
alleged he had been providing 
Mr. Worden wiih much of tho . - 
material. 

Kodak's suit alleges that 
3M ami its subsidiaries 
provided Mr. Worden with , 
detailed “wish lists” target* £ * 
ing particular confidential 
Kodak technologies and paid 
Mr. Worden to provide tiled' 
information, although it does : 
not spell out how much he - ’ 
allegedly got. To this day. 
Kodak claims, lmaiion con- 
tinues to use Kodak's trade 
secrets “nn a daily hasis in ; 
their acetate film monufactur- z 
ing processes and else- 
where." 

After more than a decade of 
corporate streamlining. Mrr 
Van Graafeiland said an in- 
creasingly mobile work force 
requires companies to be 
more vigilant about setting 
policies that spell out wha< 
employees can do when they 
leave. 

“This is going to be an 
increasingly serious issue for j n 
companies as we move into * 1 
the next century," he said. 
“As a result of downsizing 
andageneral increase in work . 
force mobility, people are 
viewing their jobs as perma- 
nent, More people are moving 
around and taking their 
knowledge and expertise with 
them.” 


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PAGE 22 


^ IfcraftSSributtc 

Sports 


\ . 

i 


WEDNESDAY, DECEMBER 10, l&l 


World Roundup 



Nick Faldo chipping in Cira- 
anggis. southeast of Jakarta. 

Faldo and Pamevik 
Take Lead on 67s 

golf Nkk Faldo of England and 
Jesper Pamevik of Sweden shot 5- 
under-par 67s to share the first- 
round lead in Indonesia on Tuesday 
in the Johnnie Walker Super Tour. 
The eight golfers in the $350,000 
tournament fly to Bangkok to play 
(he second round Thursday. 

The de fending chaxnpion, Emi> 
Els of South Africa, was two strokes 
behind at 69. After the Bangkok 
stop, the four-round tournament 
moves to the Philippines on Sat- 
urday and Taiwan on Sunday. (AP) 

• Scott Veqplankclosed with a71 

— his sixth straight sub-par round 

— and woo his PGA Tour card and 

its qualifying tournament by six 
shots over Blaine McCallister. Ver- 
plank finished 22-under-par at 407 
m the $500,000 event played in 
Haines City. Florida. (AP) 

• Scott Henderson of Scotland, 
who left a career as an engine s- in 
the oil industry to try professional 
golf, has been named the European 
Tour Rookie of the Year. Hender- 
son, 28, finished 42d on the Order 
of Merit fins year after three top 10 
finishes in 21 events. (Reuters) 

Cambridge Wins Again 

.Rugby A New Zealander, Paul 
Surridge, scored 14 points Tuesday 
as Cambridge defeated Oxford, 29- 
17, for its fourth consecutive vic- 
tory over Oxford in their annual 
rugby showdown at Twickenham, 
England. Cambridge, playing be- 
fore 70,000, built up a 19-3 lead 
early in the second half, although 
Oxford bit back with a couple of 
late tries, closing to within 19-10 
and then 26-17. (AP) 

The Rich Get Richer 

SOCCER The B razilian striker 
Savio joined an already sparkling 
attack at the Spanish powerhouse 
Real Madrid on Tuesday, signing a 
five-year contract far $13.5 mil- 
lion. The 23-year-old former Fla- 
mengo player is not expected to 
make his debut until January. (AP) 

Willie Pastrano Dies 

boxing Willie Pastrano, a light 
heavyweight champion in the 
1960s who taught Muhammad Ali 
to dance in die ring, died Saturday 
of cancer. He was 62. Nicknamed 
“Willie tiie Wisp," Pastrano had a 
record of 63-13-8, with 14 knock- 
outs. Pastrano had fought 77 times 
before winning the light heavy- 
weight title from Harold Johnson in 
1963. He lost the crown when he 
was stopped by Jose Torres in 
1965. (AP) 


Pakistanis 
Whitewash 
West Indies 


Reuters 

KARACHI, Pakistan — Pakistan be- 
came the first team in 69 years to white- 
wash the West Indies, winning the third 
and final cricket test Tuesday by 10 
wickets with more than aday to spare. 

"We were completely outplayed in 
the series," the West Indies captain 

CRICKET 

Courtney Walsh said. “The Pakistanis 
were far ahead of us in every department 
-of the game." 

The Pakistani captain, Wasim 
Akram, said his team “perfbrmed and 
clicked at the right time. West Indies 



ZiUd HoMnVRremi 

Pakistanis high-fiving after dismissing another West Indian batsman. 


Nunes's West Indies lost all three 
teste. 

Earlier this year in a bad- 

didn’t play badly, but we played a lot - contest seen widely as the 
better than them.” 

Hie Pakistani bowler Saqlain Mush- 
taq was named man of the match for his 
nine for 80. 

The West Indies, resuming Tuesday 
morning at 198 for seven, were bowled 
out for 212 in 29 minntes as Akram 
claimed the last three wickets to finish on 
four for 42. Pakistan achieved die re- 
quired 12 runs for victory in five overs. 

The defeat followed ignominious re- 
verses, both by an innings, in die first 
two tests. The West Indies last suffered 
a clean sweep in 1928 when they were 


blanked out in their inaugural series by 
Percy Chapman’s Englan d team. R. K. 


ial 

world championship of test cricket, the 
West Indies was beaten by Australia by 
an inning s and 183 runs in Adelaide. 

The West Indies are to play again 
Thursday in- the four-nation Shaijah 
Cup, also featuring England, Pakistan 

nnd TnHifl. 

■ Sooth Africa Crushes Anssies 

Lance Klusener and Pat Symcox of 
South Africa combined to destroy Aus- 
tralia’s batting lineup and forge a45-mn 
victory in a limited overs match at the 
Melbourne Cricket Ground on Tuesday, 
The Associated Press reported. 
Australia was all out for 125 in the 


40th over in reply to South Africa's 170 
for eight off 50 overs. 

South Africa moved to the top of the 
tri-series table with two wins from three 
games. Australia has won one from 
three while New Zealand has won one 
and lost one. 

■ Fvv- J ndgfr filers Indian Tw»m 

Manoj Prabbakar, an Indian crick- 
eter, was motivated by anger at being 
dropped from the national team when be 
accused his teammates of being in- 
volved in betting and match fixing, ac- 
cording to former Chief Justice Y.V. 
Qiandrachnda, who was appointed by 
fiie Indian cricket board to investigate 
the charges. He declared them unfoun- 
ded, Hie Associated Press reported 
from New Delhi. 


Stockton Is Back as Jazz 
Beat the Pacers, 106-97 


The Associated Press 

John Stockton got a hero's welcome 
when he returned to the court in Salt 
Lake' City after missing the first 18 
games or the season following knee 
surgery. 

Then he showed his gratitude to the 
Delta Center crowd by helping the Utah 
Jazz beat the Indiana Pacers on Monday 
night, 106-97. 

“It was a great atmosphere out 
there,’ ’ said Stockton, who finished with 

10 points and seven assists. “It’s even 
better because we won.*' 

Although he played only 20 minutes, 
the NBA's career assists and steals lead- 
er played a key role in ending the 
Pacos' six-game winning streak. 

Stockton, who received ovations be- 
fore, daring and after the game, scored 
eight points in the first 5:37, showed his 
scrappiness in a couple of third-quarter 
confrontations and provided the Jazz 
with crucial floor leadership down the 
stretch. 

“He got them going right off the 
bat "said the Indiana coach, Larry Bird. 

“He made an immediate impact. 

It was a physical game that featured 
file ejection of the Pacers star Reggie 
Miller for bumping the referee Jim Kin- 
sey while protesting a call in the third 
quarter. 

“This kind of game makes you forget 
about everything else,” said Stockton, 
who wore a light brace on his left knee. 

* ‘It was a brutal game in some ways, and 
I had to concentrate on that” 

Hut 106, Nats 97 Ac Miami, Tim 
Hardaway saved 23 points and the Heat 
took advantage of a fast start to beat 
New Jersey. 

Hardaway sank a pair of 3-pointers to 
help Miami bnild a 20-3 lead. The Nets 
scored just one basket in the opening all tying his season highs. Nick Van 
seven and a half minntes and missed 10 . Exel had 24 points and 12 assists for the 
of their first 11 shots. Lakers, who lost to a Western Con- 

The Nets closed to 95-89 with 1:31 fereoce team for the first time in 13 
left, but Eric Murdock hit eight straight games this season. 


free throws to clinch the Heat's third 
consecutive victory. 

New Jersey’s Keith Van Horn, the 
second pick in this year’s draft, scored 
16 points in his second NBA game. Van 
Horn, who missed the first 17 games 
with a sprained right ankle, was 7-for-14 
from the field. 

“If we had played well in the first 
quarter, we could have won," Van Horn 
said. “We didn’t have file energy to 
sustain the comeback.” 

Magic 9S, 78 m as At Orlando, Rony 
Seikaly scored 24 points as the Magic,, 
won without the star Penny Hardaway. 

Hardaway, who missed his third- 
straight game because of pain in his left 
knee, was, placed on the injured list 
before the game: 

Orlando also lost Nick Anderson, 
who broke a bone in his right hand in the 
first half and is expected to miss at least 
four weeks. 

But the Magic still had enough to beat 
the Sixers, who got 21 points from Allen 
Iverson and IS from Jimmy Jackson. 

Ml Btasars 105,Lakars»9 At Port- 
land, Isaiah Rider scored 21 of his 26 

g lints in the second half as ' the Trail 
lazers handed Los Angeles its second 
straight loss. 

The Lakes, who lost at home to 
Cleveland on Sunday night, are 15-4 
overall but only 5-4 since Shaquille 
O'Neal went down with an injmy. 

“We’re not earning out withihe same 
enthusiasm or energy that we had in the 
winning streak,” said the Laker coach 
Dei Hands. 

Los Angeles cut Portland’s lead to 
101-99 on Kobe Bryant’s two free 
throws with 12.4 seconds left But Rick 
Bronson, signed out of the CBA last 
week, sank four consecutive free throws 
to clinch the victory. 

Rasheed Wallace of Portland had 18 
points, nine rebounds and five assists. 



Stew c mnffte AHocMed ta 

John Stockton of Utah, with a leg 
brace, scoring 2 of his 10 points. 


A Showdown in Turin 

Man. U. Stands in the Way of Juventus 


By Rob Hughes 

huematiotuil HenUdHibew 

L ONDON — Not for nothing do 
they call Ole Gunnar Solskjaer 
“The Baity Faced Assassin.” 
In looks, he is a boyish 24-year-old. 
In company, he appears an inoffens- 


that Manchester United just got lucky 
when it beat Juventus, 3-2, in England 
in October. The truth is. United is in 
the groove, scoring handsomely week 
in, week out, and growing ever more 
authoritative with results such as Sat- 
urday’s 3-1 victory in Liverpool. 
Indeed, goals have flowed with' 


ive Norwegian. Inaction, he's more a such regularity for United tha t Sol- 
■ arii to those skjaer, last season s leading scorer. 



poacher than a sniper, though 
who feel his sting it probably amounts 
to the same. Yet on television, Solk- 
sjaer. Manchester United’s goal 
scorer, boldly pronounces: “We are 
going to Tuna to win. We don't just 
want to put in a good performance 
against Juventus, we want id elim- 
inate them from the competition." 

What a difference a year makes in 
Champions League confrontations. 


W. 


idl 


is ago. Unit 

to Stadio Defle Alpi, losing there 
at home against Juventus because 
they never imagined they could be fire 
Italian dob’s equal. Now die boot is 
on fiie other fooL It is United that feels 
itself superior, Juventus that would be 
grateful with any kind of a victory. 


may have to rise from the bench to 
play any pan in eliminating, if that 
happens, Juventus. For the greatest 
change in Manchester's rampant red 
season has been the chemistry be- 
tween Teddy Shenngham and Andy 
Cole. Sheringham is file replacement 
brought in when Eric Cantona 
brusquely retired; Cole is a bom again 
predator whose 14 goals in 10 games 
brooks no argument. 

In summary, Juventus has re- 
gressed as a European force, and that 
may have happened even without the 
sales, because sustaining Continental 
and domestic success when every op- 
ponent measures its season against the 
champ ion becomes harder each 
passing year. 

The challenge is to re motivate en- 
riched players, to trade new for old, to 
fin d ways to surprise adversaries who 



ja Vu >» 
ion K«* 


Anything less than victory for Ju- 
ventus «nd it is all over for this season, study everything that makes you nu- 
Mancbester United, with an imper- mero uno. Manchester is one of those 


Manchester United, with an 
ions five straight wins, is ass 
topping the group, certain to be in fire 
next round. Juve, fire European cham- 
pion of 1996, and finalist of 1997, has 
to beat Manchester on Wednesday to 
reach 12 points — arid then to pray 
that no more than one runner up in 
other groups reaps more points. It is a 
reminder mat yesterday's pupils can 
swiftly become today’s masters. ’ 

What Solskjaer has in nwnri is a 
kind, of backhanded compliment to 
Juventus. United still has respect for 
the Italian champion, still suspects 
that with its expenenceand its quality, 
there could be a dangerous liberation 
if it is spared the cut on Wednesday. I 
think Juventus will get the points, will 
have that edge of competitive des- 
peration to puncture, slightly, the 
young Manchester team’s euphoria. 

If not, Juve. has only itself to blame. 
In defense, midfield and attack it has 
had self-wounding bouts of indiscip- 
line, losing Paolo Montero, Didier 
Deschamps and now Alessandro Del 
Piero to suspensions. Additionally, its 


hungry adversaries, reaching up fax 
parity. 

. Elsewhere, we could get three Ger- 
man sides in the quarterfinals of the 
Champions League- A nonsense, I 
know, for it ridicules the word cham- 
pion. That, however, is not the re- 
sponsibility of Borussia Dortmund, 
resurgent now and already fiie winner 
6f Group A. Nor can anyone blame 
Bayern Munich, which has group E 
virtually sewn up, and Bayer 
Leverkusen which has a double 
chance of qualifying from group F. 4g 

Leverkusen is at hbme to Monaco ” 
on Wednesday. Although Monaco, 
with its new opportunist youngster 
David Trezeguer complimenting Thi- 
erry Henry and Victor Dcpeba, 
trounced Leverkusen. 4-0, in the first 
meeting, it will be a much closer story 
in Germany. Both teams have 12 
points; a tied game would put both 
into the not round. 

From Group D. either Real Madrid, 
built on opulence, or Rosenborg, built 
on good coaching of local talents, can 


lifi** 11 



Ravanelli, fiie strikers of 1996, and 
almost got away with it But then Juve 
accepted bids for their replacements, 
Akn Boksic and Christian VierL 

To sell once was possibly prudent, 
to sell again looks like carelessness. 
Compounding that Juventus is with- 
out Del Piero, the goal thief of many a 
European night, and without reserve 
strikers Michele Padovano (sold) and 
Nicola Amoroso (broken leg). It is 
down to. the bare bones of two at- 
tackers who have been goal shy of late: 
Filippo Inzaghi and Daniel Fonseca. 

Inzaghi is quick but lightweight, 
and very foolish with loose words if he 
really did tell Italy’s press this week 


margin that guarantees progression in 
file tournament. And in Group C, 
with marvelous confidence, 
Kiev has outclassed its op- 
position. 

So from all sides, the Old Lady of 
Torino can feel the hot breath on her 
neck. Juventus is not a bad team — as 
its second place in Italy’s Serie A 
demonstrates. But it is pressured and, fjj 
for the first time in three seasons, it 
competes in Europe with destiny not 
entirely in its own hands. The com- 
petitors’ wheel turns. 

Rob Hughes is on the staff of The 
Times of London. 


Scoreboard 


BASKETBALL 


NBA Standi nos 


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Orlando 
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New Yolk 
WwWngton 
Boston 

rntOQeiprrij 

Aftrta 

Cleveland 

Chkngo 

Indtaoa 

Qwrtatta 

MBwobIum 

Detroit 

Toronto 


Houston 

Utah 

Son Antonio 


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W L 

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8 11 

7 11 

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12 6 

11 7 

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10 7 

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1 18 


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1.4S9 

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5-0 

U49 

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6. Arizona 

5-2 

1»<24 

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7.Xavtorf]J 

54) 

U69 

9 

8. Purdue 

6-2 

1.166 

6 

9. Utah 

7-0 

1,137 

11 

10. lam 

64 

Z119 

10 

11. Stanford 

5-9 

1452 

12 

1Z UCLA 

3-1 

M9 

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llGonnecflcut 

7-1 

904 

13 

lLNewMadca 

5-1 

830 

8 

15. Arkansas 

60 

712 

18 

16RaridaSt. 

61 

575 

19 

17.aerason 

62 

553 

17 

18.FreenaSt 

3-1 

548 

16 

19. Maryland 

62 

. 480 

23 

20.Tanipte 

61 

467 

20 

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61 

384 

14 

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60 

271 

25 

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62 

■171 

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24. Georgia Tsrti 

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140 

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S-Wbka Forest 

61 

127 

24 


CE HOCKEY 


NHL Standings 


PokMon won nwtdi by 10 wickets and 3 
tests series 34). 


NewJaser 
PtiBadetohla 
Washington 
N.Y. Ranges 
N.Y. Handera 
Florida 
Tampa Bay 


Minnesota 

8 

10 

Mi 

4 

Vancouver 

7 

13 

350 

6 

Dallas 

5 

13 

270 

7 

Denver 

2 

15 

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15 

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15 

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ZI-23-86 


Often racehktg votes: Rhode I stand 82, 
SyiaaM 7% Tame Christos* 71, Hawaii ffl, 
Miami M. MnqseBe 46, MleWgan 32, Sidrrf 
Lou* 29. Tamest* 21, West VagWa 19. 
OWahema St. ) 7, Minnesota Id. LoufcvBt IS, 
MllstaJppISt H Oklahoma IT, GatorodoSL 
9 ,T«ms 9, Arizona St 6, UNLV6 N.Corefow 
St&MascadNEfltto & OndnvUZ Gontaga 
2 Money SL 2. Washington Z Bal SI 1. 
Mona T, South Aiabamol. 


FOOTBALL 


NFLStandmos 


Montreal 

Pftsbaigti 

Barton 

Ottawa 

CaroSna 

Buffalo 


Date 

St Louis 

Detroit 

Phoenix 

Chkngo 

Toronto 


AnJUmeDMMON 

W L T Pts CF 
19 9 0 
15 9 6 
15 II 4 
9 12 II 
12 13 4 
9 IS 5 
5 19 4 

NORTHEAST DflnslON 

W L T Pis GF 


17 10 
16 10 
13 12 
13 13 
12 14 
9 13 


COtnuU-DTOBION 

W L T Pis GF 


20 8 
19 9 
18 7 
13 14 
10 14 
10 74 


44 103 
47 9« 

41 98 
29 80 
25 63 
24 63 


«A 

51 

70 

80 

87 

79 

87 

9S 

GA 

73 

77 

79 

72 

86 

77 


GA 

70 

69 

69 

84 

74 

76 


AUSTRALIA 98. SOUTH ARKA 
TUESDAY M MELBOURNE. AUSTRAUA 
South A War 170-3 
AustroSa: 125 

Sooth Africa wan by 45 nins. i£> 

STAMomasa South Afrtca A petnts ml 
Zealand Z Austmffa Z 


UEFA Cup 

Spartak Moscow I. Kariurtw SC a OT 
Spartak win T 47 on aggregate. 

i inset 


Sheffield Wednesday Z Barnsley i 
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3* BtaUunS Arsenal Leeds TOUtam 
27i Dolby Vs Lherood 2& NewasftattWM 
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26 25 16 28- 9S 
P: Iverson 70-25 7-4 21, Jackson 7-11 2-2 
1* a Saftitfy 9.16*6 24 Giant 5-12 2-2 12. 
Robooads— PMtadBtohfa 55 Uodesaa ffl. O* 
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9. 

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Hardaway 10-23 04 73. Aastta 6-14 56 17. 

Ltatard 641-217. HSkiendS NewJwy48 
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(Hardaway 9). 

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0** 28 29 27 SR-W 

feAJMl 61274 1Z MiBer7-U 1-276: U: 
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Reteods— tadtana37 (DAavtort, UtahSS 
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9), UWi25 KtoddonTl. 

17 27 23 32— 99 
21 37 27 27-185 
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Miami 
N.Y.Jets 
Bo Mo 
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Jadcsonvfito 

Temsssee 

BaMffloia 

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Oakland 
Son Diego 


N.Y. Giants 
Washington 
PttootfetpMe 


95 
9 5 
8 6 
6 8 
212 


EAST 

V IT P(L PF PA 
0 to43 334 2S3 
.0 443 327 272 
0 toTl 307 274 
.429 220 316 
.743 244 362 


J74 342 270 
to43 354 295 
to00 298 283 
.393 291 310 
J57 308 367 

.786 321 111 
.786 417 250 
to29 3(5 332 
.286 294 377 
-286 256 358 


GA 

79 

83 

88 

94 

93 

104 

99 

1—2 


10 4 0 
9 5 0 
7 7 0 
5 8 1 
5 9 0 
MIST 

11 3 0 
11 3 0 

(1.0 
410 0 
410 0 


Altoona 

x-GreenBay 
Tampa Boy 
Minnesota 
□etron 
Chicago 


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w L T PSt PF PA 

8 5 1 to07 257 248 

7 6 1 .526 282 227 

6 7 1 464 268 3f7 

6 8 0 429 273 263 

311 0 Z14 244 336 

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11 3 0 J86 360 SI 

9 5 0 tort 268 217 

8 6 0 toti 30B 317 

7 7 0 toOD 352 283 

311 0 414 235 380 


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Colorado 16 7 8 40 94 

LasAngetas 12 12 5 29 89 

Aartislm 11 14 6 28 70 

Edmonton ■ 9 15 7 as 73 

SonJose 10 18 2 22 76 

teooover . 9 17 4 22 84 

Gotorey 6 18 7 19 77 

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Montreal 0 2 

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1*1 Period: SJ_4Uieomne 2 {Ydita 


AMfinCAN LEAQUE 

Chicago— C krimed 20 Sergio Nsrag rf 
wohere from Kansas dty. 

OtoveLAND— Agreed to terms wtti OF 
Kwny Lofton on 3-yoor contact and RHP 
DsrtgM Gooden an 2-year contract. Trodtd 
OF Marquis Grissom and RHP Jeff Judento 
Mlwnofcee for RHP Bea McDonald. 

Mtoe Fetters and LHP RonVUlonb V 
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attend Indians for RHP MiKe Fettere. 
c ■AY-AQroed to tanas wtth 18 Pari 

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Toao nTO-Agteed to terms with C 4M» 
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MAHOHAL LBAOUE 

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■Manuu 

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The End of the Trail? 

Cowboys Fall to the Panthers, 23-13 


By Joe Drape 

New York Times Service 


IRVING, Texas — The D allas Cow- 
boys will not win the National Football 
Conference East. Thev orobablv will 


X) wight Gooden after signing with the Cleveland Indians 

Deja Vu in Center Field: 
Lofton Rejoins Indians 


not even make the playoas. 

Their resounding 23-13 loss Monday 
night to the Carolina Panthers high- 
lighted all that is wrong with the Cow- 
boys. Emrnitt Smith spent all but the 

NFL 

first series on the bench with a shoulder 
injury. Troy Aikmajp spent much of his 
evening on his back. And 10 yellow 
flags flew in Dallas’s face. 

“We’re used to winning Super 
Bowls,” said Jerry Jones said, the Dal- 
las owner. “We certainly didn’t have 
that commitment tonight.” 

With 8 minutes 1 second left and the 
Cowboys (6-8) trailing by 20-6, the 
Texas Stadium crowd of 63,251 was 
beading for the exits. It was then that the 
Dallas ofiense moved 78 yards in three 
lays to cut the deficit to 20-13. Michael 
l completed the drive by hauling in a 


52-yard pass from Troy Aikman (14 for 
26, 180 yards, 1 touchdown). 

The Dallas defense stopped Carolina 
(7-7), and when Ken Walter shanked a 
27 -yard punt, die Cowboys had the tall 
on their own 46 with 5:21 left. In a play 
that epitomized the Cowboys' frustrat- 
ing season — fourth and less than a yard 
— the Cowboys elected to pass. Aikman 
rolled right, but could not find anyone 
open. He doubled back to his left, look- 
ing fora receiver. Finally, like the Cow- 
boys for much of the year, he just fell 
down. Loss of 25. Panthers’ ball 

And with 56 seconds left in what for 
all practical purposes was their season, 
John Kasay delivered an 18-yard coup 
de grace. Carolina, 23-13. 

The Panthers opened the third quarter 
with a crushing 12-play, 69-yard drive. 
Todd Collins (16 of 28 passing, 136 
yards, 2 touchdowns) went 7 for 7 on the 
drive, finding five different receivers, 
and throwings 1-yard touchdown pass to 
fullback Scott Greene for a 17-6 lead. 

It was the Panthers’ ability to hold the 
ball for 1 1 minutes in the third quarter 
that will keep D allas home for the play- 
offs for the first time in seven seasons. 



Hon Heflifw'TTv IiwhuImI IV^ 

Les Miller of Carolina nailing the Dallas quarterback, Troy Aikman. 


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NEW YORK — Before the 1997 
season, they were traded for each other. 
Jji Now, after the season, one was traded 
-■ because the other came back. 

The Cleveland Indians, who swapped 
third basemen a week ago when they sent 
Matt Williams to Arizona for Travis Fry- 
man. changed center fielders Monday, 
signing Kenny Lofton as a free agent and 
sending Marquis Grissom to the Mil- 
waukee Brewers in a five-player trade. 

Ben McDonald, one of the three 
itchers the Indians received from the 
rewers, will join their starting rotation 
with another newcomer. 

The Indians, as expected, signed 
Dwight Gooden, whom the Yankees let 
leave as a free agent. The Indians gave 
Gooden a two-year contract for $5.68 
million. They brought Lofton back with 

BASEBALL 

f a three-year. $24 million contract. That is 
less than the five-year, $43 .5 million deal 
he rejected last spring, an act that promp- 
ted the Indians to trade him to Atlanta for 
Grissom in a four-player deal. 

John Han, the Indians’ indefatigable 
general manager, also made another 
trade. Mike Fetters, a reliefpitcher in the 
Brewers’ deal, went on to Oakland for a 
starting pitcher. Steve Karsay. In the 
Lofton trade, Jeff Juden, a starting pitch- 
er. went to Milwaukee and Ron Villone, 
a reliever, moved to Cleveland. 

In other developments, two firee- 
agent shortstops signed with new teams 
— Jose Vizcaino with Los Angeles for 
three years and $9.5 million, and Kevin 
Elster with Texas for one year and 5 1 .65 
million. And the Toronto Blue Jays 
signed two free agents. 

The Blue Jays, seeking a productive 
designated hitter, gave Mike Stanley, 
who finished last season with the Yan- 
kees, $6.15 million for two years, and 
gave the second baseman Tony Feman- 
v, dez $2.5 million for one year, 
f ■ The Tampa Bay Devil Rays an- 
1 nounced that they had a two-year, $5.25 
; million deal with Seattle’s Paul Sor- 
.' renro. who will be their designated hit- 
; ter. The expansion team announced 
I Tuesday that it had signed Wade Boggs 
• lo play third base. 

The Indians traded Lofton in March 
- not only because they did not want to 
c lose him as a free agent without getting 


anything in return, but also because they 
were cleaning out their clubhouse of 
problem players. 

They -acquired Grissom and David 
Justice, who were instrumental in mak- 
ing their World Series adventure pos- 
sible, then signed Grissom to a new five- 
year contract for $5 million a year. But 
Grissom was not die leadoff hitter Lofton 
tad been, and the Indians decided to 
pursue Lofton, whom they felt might be a 
different person without Albert Belle 
and Eddie Murray in the clubhouse. 

The Indians’ only competition for the 
30-year-old Lofton was the Brewers, 
who offered about $42 million for five 


Keenan and Canucks Lose to Blues 


ton preferred his salary each season. 
■ Red Sox Grab Eckersley 

The Boston Red Sox have signed the 
relief pitcher Dennis Eckersley to a one- 
year contract. The Associated Press re- 
ported. Eckersley, 43. was a starter for the 
Red Sox from 1978-84 until he was 
traded him to the Cubs for Bill Buckner. 
He reportedly signed for less than the 
$1.75 million in base pay he got last 
season with the St Louis Cardinals. 



fames A. Fnicy/Tle AinciaeJ Plcm 

Mike Keenan waving to St Louis 
Blues fans before his Canucks lost 


The Associated Press 

Mike Keenan got what he expected 
on his return to St Louis: a rude re- 
ception. On his first trip to town since 
being fired by the Blues a year ago, 
Keenan grinned and waved to a near- 
selJout crowd packed with boobirds be- 
fore his new team, the Vancouver Ca- 
nucks, lost by 5- 1 Monday night. 

For die Blues. Scott Pellerin scored 
twice off setups from Craig Conroy as 
the Blues woo their fourth in a row. 

The crowd of 19,295 enjoyed every 
minute, booing Keenan's picture every 
time it appeared on the scoreboard and 
cheering wildly when the camera fo- 
cused on the Blues' coach, Joel Quen- 
neville. 

In Keenan’s last game in the Kiel Cen- 
ter a year ago, the Blues lost, 8-0, to 
Vancouver. But there was a silver lining to 
this visit, as Keenan and Blues’ star Brett 
Hull, who sat out die game with a pulled 


hamstring, finally buried the hatchet 
They shook hands and chatted, and Keen- 
an even autographed one of his model 
hockey sticks for Hull’s collection 

Hangars 3, Coyotes 1 Winning at 
home has been difficult for the New 
York Rangers this season. Scoring the 
first goal has been nearly impossible. 
But the Rangers managed to do both in 
beating the visiting Phoenix Coyotes. 

NHL Roundup 

Adam Graves scored on a blast from 
the slot at 3:31 of the first period, with 
New York on the power play. Alexander 
Kaipovtsev made it 2-0 at 9:20 of the 
third from the high slot. Jocelyn 
Lemieux scored from outside the crease 
at 12:56 of the third to cut New York’s 
lead to one goal, but New York re- 
sponded with a goal by Vladimir 
Vorobiev at 14:31. 


•tapis Lasts 3, stars o In Toronto. 
Mats Sundin scored twice and Felix 
Potvin stopped 19 shots as the Maple 
Leafs snapped a seven-game winning 
streak by Dallas. 

Sundrn scored his 1 Oth and 1 1 rb goals 
and Potvin recorded his first shutout this 
season as the Maple Leafs, the Central 
Division's last-place team, blanked the 
NHL’s top-scoring squad. 

Canacfiens 4, Avalanche 2 In 

Montreal, Andy Moog stopped 23 shots 
and won for the first lime since Nov. S as 
Montreal ended Colorado’s six-game 
unbeaten streak. 

Benoir Brunet. Marc Bureau. 
Stephane Quintal and Mark Recchi 
scored for the Canadiens. Joe Sakic and 
Jon Klemm scored for Colorado, which 
had its six-game unbeaten streak ended. 
Patrick Roy. traded from the Canadiens 
to the Avalanche in 1995. made 24 saves 
but got little help from his teammates. 


Playing the Race Card to Cover Up for a Player’s Bad Behavior 


New York Tunes Service 

N EW YORK — The basketball 
player was deeply unhappy when 
die coach told him wtai he ex- 
pected from him, particularly in die way 
of compoftaxmt, on and off die court 
The player grew agitated, words got 
heated, the player exploded and then 
This was not Lafrell S prewell and 
PJ. Carlesimo. It was LeVar Folk and 
Dennis Wolff. Who? 

Folk is the point guard for Boston 
University, Wolff the coach. 

There were no blows in the incident, 
though The Boston Globe reported that 
Folk “went off in a verbal tirade dial 
nearly became physical.” 

Folk, a 5-foot- 11 -inch junior from 
Monsignor McQancy High School in 
Queens, New York, was suspended in- 
definitely. The incident came, die coach 
said, after several run-ins on subjects 
from missing classes to being late for 
practice. Folk later apologized, but the 
suspension held. 


“There's just ioo much of this stuff 
going on,” Wolff said Monday from his 
office in Boston. Whai did he mean by 
“stuff?” 

“The respect for authority has 
eroded. A line that I never thought guys 
would cross is crossed more and more 
easily evety year. And it's not just with 
coaches. It’s with authority figures 
across the board. 

“But in basketball, if you tell a guy 
that you want him to improve his free- 
throw shooting, he takes it that you 
don’t like him. You know, ‘You’re 
dissing me.’ You don’t like what you’re 
being told, you say whatever you want 
back.” 

Wolff has been a college basketball 
coach for 20 years, first as head coach at 
Connecticut College, then as an as- 
sistant at Trinity, Sl Bonaventure. 
Wake Forest. Southern Methodist and 
Virginia, before he took the head job at 
Boston four years ago. 

He played high school ball at Holy 


Vantage Poi/iZ/IraBerkow 


Cross in Queens and college ball at 
Louisiana State and Connecticut 

“I’ve given my life to basketball,” 
he said, “and I've seen the changes 
firsthand.” Wolff said that if he tad 
come home from school and told his 
father that he bad told the coach to take 
a hike, his father would have taken him 
“right tack to the school and made me 
apologize." 

One problem, Wolff said, is that 
many players from the inner city did not 
have a strong fatherly presence at home, 
and life there can lead to frustrations. 
“You can’t embarrass players in from 
of the group,' ’ he said. “Even if you’re 
a screamer — I’m not — you still have 
to be sensitive. Responsibility goes 
both ways.” 

Bnt he also said that for a coach, “if 
you allow guys to dictate to you, it’s 
over.” 


And players who have been 
“coddled,” as Wolff said, since the 
sixth or seventh grade believe they can 
get away with whatever they like. In the 
pros, the coddling amounts to millions 
of dollars. 

“But there must be a return to some 
accountability -for bad behavior," he 
said. “And there must be con- 
sequences.” This goes to the heart of 
the matter, regardless of race. 

When Am Tellera, the agent for 
SpreweU, was asked Sunday whether 
racism was a factor in his client's attack 
on Carlesimo. he replied: “You have a 
white coach who has a history of having 
problems with players in the NBA. Ob- 
viously, the players that he's had prob- 
lems with are black players.” 

That was irresponsible at best and 
poisonous at worst. Tellem knows that 
if a coach is going to have a problem 


with a player in the National Basketball 
Association, the player will probably be 
a black, because 80 percent of the 
league’s players are black. (Of course, 
it’s true that most of the coaches are 
white.) 

The agent also knows that SpreweU 
has had run-ins with black teammates. 

Two years ago. SpreweU threatened 
to shoot a teammate, Jerome Kersey; 
last year he menacingly berated BJ. 
Armstrong in the middle of a game for 
not passing him the ball, and before that 
he acted similarly to Tim Hardaway. 

When asked Sunday about race and 
the Sprewell-Carlesimo incident. Billy 
Hunter, executive director of the Na- 
tional Basketball Players Association, 
said, “I don't think that that’s the issue 
at all.” Hunter is black. 

“Deep down," Dennis Wolff said, 
“guys know what die deal is.” 

The deal ought to be, as Wolff said, 
“accountability for bad behavior.” 
Nothing more, nothing less. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 


PWSWEWWi 

ISSUE OF 
CAPTOM 
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PAGE 24 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 1©, 1997 


OBSERVER 


Manhattan Twinkle 


Small Is Beautiful on Moscow’s Opera Scene 


n 


i 


By Russell Baker 


N EW YORK — I wanted 
to write something about 


1 V to write something about 
the breathtaking beauty of 
Manhattan in December. And 
what is the result? A roundup 
of the usual cliches. The even- 
ing light becomes ' 'magicaL' ' 
Christmas lights in trees, win- 
dows and hotel lobbies “spar- 
kle like diamonds” against 
“the black velvet night” 

There is much more that is 
worse. I have thrown it in the 
trash. 

F. Scott Fitzgerald wrote 
wonderfully about the beauty 
of Manhattan. Fitzgerald’s 
Manhattan evenings are glor- 
ious not only because his New 
York is a glorious city, but 
also because he sees it through 
eyes that are young and yearn- 
ing, and not yet so hardened 
by experience that they look 
too closely for dnseL 

Fitzgerald's beautiful Man- 
hattan was a summer place. 
Under lavender skies of late 
afternoon he hurried down 
thrilling avenues to meet ir- 
resistible New York girls. 

I am of an age now to think 
of them as New York women, 
but they are still irresistible, 
though not so irresistible in 
s umm er as in December. In 
December almost everything 
in this amazing city is irres- 
istible. 

In summer New York is not 
amazing, except perhaps to 
the latest crop of young 
Fitzgeralds. Do they still rush 
off at sunset to rendezvous in 
darkened bars of East Side ho- 
tels? Oh, those dark and lovely 
bars! And the shock of the ice- 
cold martini, and toe piano 
playing the bittersweet songs 
of Rodgers and Han. And . . . 

Enough. It is December 
that is New York's month for 
people of all ages. The lights 
are a big pan of it. Because 
night comes in midaftemoon 


at this season, long before 
quitting time, die office 
towers blaze with light. 

A million windows lighted 
in the city's gigantic file-cab- 
inet towers work something 
like a miracle. By daylight 
these overbearing office 
boxes are often monstrous. In 
a December midaftemoon, 
however, even the nightmar- 
ish architecture of Sixth Av- 
enue becomes beautiful. 

The mercantile bustle in 
streets and shops is pan of it, 
too. New York is first and fore- 
most a market toWn. Its primary 
business is selling. Its chief top- 
ic of conversation is money. 


By Daniel Williams 

Washington Post Service 


M OSCOW — On stage, the pyramids 
were only two feet tall, and instead of 


All the rest of it — the art, 
die music, die theater — exists 
only because New York is such 
a prosperous market town that 
its citizens can afford to sup- 
port a few cultural amenities. 

December is the great 
month in this place where 
commerce is king. Honking, 
bleating cars sit bumper to 
bumper, making a joyous 
noise unto die lords of com- 
merce and filling the air with 
oily griL It is as if absolutely 
everybody has come to town. 
Business is roaring. 

Tbe astonishing light that 
is Thomas Edison’s gift to 
New York and the exciting 
busyness of crowded streets 
make the city feel as if a great 
festival is in progress. Indeed, 
one is. The city is celebrating 
the triumph of commerce. 

At times the place suggests 
an absurdly oversized village, 
and please let ns not argue the 
point I am too delighted with 
this ravishing December New 
York to engage in sour dis- 
putation. Yes, I have seen the 
beggars with their cardboard 
cups upheld. It is a tough town, 
too. a terribly tough town, bat 
also this December — I’ll say 
it anyhow — magical 
New York Times Service 


1VA were only two feet tall, and instead of 
elephants, little children paraded during the 
Triumphal March scene. Practically speak- 
ing, there was no other choice for this pro- 
duction of Verdi’s majestic “Aida.” It was 
performed in a theater the size of a small 
ballroom. . 

But in Moscow opera these days, small is 
beautiful. The city is experiencing an opera 
renaissance, spearheaded by daring compa- 
nies playing in intimate theaters to standing- 
room-only crowds. Suddenly, in a single sea- 
son you can see five different productions of 
Tchaikovsky’s ‘‘Eugene Onegin." Eleven 
operas were performed in a recent week. 

There is still, of course, the Bolshoi Theat- 
er. the. pink neoclassical temple of culture 
downtown. But the rebirth of opera is not 
taking place there. Most of the Bolshoi’s 
productions this year werepanned as out-of-. 
date leftovers from a stiff Soviet era. The 
Bolshoi’s traditional dominance is being 
challenged by the clutch of new or revived w 
companies whose intrepid productions have U 
attracted praise in Russia and invitations to ^ 
perform abroad. 

“There’s an opera boom in Moscow,” 
wrote the critic Valeri Kichin in Izvestia. 

* ‘The halls are full of young people. There’s a 
festival atmosphere by the door.’ * The produc 

Alexander Parin, one of thecoun try’s lead- 
ing opera experts, said, “There is a lot of opera now, maybe 
even an excess, because there was too little before, under too 
mncb control. Moscow is ready for this. It’s a wide open 
world, and experimentation is everywhere.” 

In all of Europe, perhaps only Berlin is experiencing a 
similar blossoming. The outpouring of new productions has 





tf 


The production of “Aida” at the Helikon Theater in Moscow. 


reminiscent of the Communist youth groups. Reviews 
praised the acting, calling it subtle in contrast to a competing 
Bolshoi production that one critic attacked as “over- 
wrought.” 

Verdi’s "La Traviata’* was played at the Helikon on a 
large four-poster bed. Bizet's “Carmen” took place against 


come from talented directors and artists eager to make their a brick wall, framed by a Dumpster and a wrecked car that 
' way in Russia’s new artistic marketplace. They have secured occasionally served as a brotheL Performers in Donizetti’s 
funding from the city of Moscow and attracted a young “Don Pasquale” performed among the audience, while die 

fra played on stage. “Our main task is to .bring in 


audience thirsty for culture and fun. orchestra played 

The most talked-about of the new companies makes its young people anc 
home at the Helikon Theater, which is housed in an 13th- just an elite art, 
century mansion on Bolshaya Nildtskaya Street The operas Pe nman. 
are performed in a high-ceiling, colonnaded room that seats Two otfaerpopo 

250 spectators around a 50-piece orchestra (there is no pit) in the Novaya Opera 
front of a small stage. Helikon ’s director, Dmitri Bertman, is and the Chamber i 
30. His productions are Inevitably audacious. Each has won fan 

His small-pyramid ‘ ‘Aida,” for example, took place in an Onegin” to Broad 
ancient Egypt that he portrayed as a police state. His is planning a trip 
costumers grafted pharaonic garb onto Nazi-style uniforms revived Stanislavs 


occasionally served as a brotheL Performers m Donizetti s 
“Don Pasquale” performed among the audience, while the 
orchestra played on stage. “Our main task is to .bring in 
young people and to make opera widely appealing and not 
just an elite art,” said Nina Loroba, a top assistant of 


stars have left for higher salaries in the West. 
The exodus has led some critics to complain 
there are no tenors left. 

The new impresarios disagree. “Russia is 
rich in talent/ said Kolobov. ‘‘Pay is small 
■ here, the audience can also not afford the 
prices for tickets like in the West, But even 
the stars' come back if there is something 
interesting going on.’ ' . 

Kolobov, who worked many years w the 
provincial town of Sverdlovsk, attributes the 
opera revival to the freedoms that succeeded 
- -the Soviet system. “We no longer have to 
_ fate into account some bureaucrat at the 
^ Ministry of Culture,’ ’ he said. “We can now 
hav e contact with artists from abroad. Pol- 
itics doesn’t enter into it.” 

‘ Tltel said the number of productions, is a 
. reflection of artists “trying to make up for 
lost time.” 

“The spring is unwound. Excesses, of 
course, are inevitable. But there is a healthy 
stan in this chaos,” he said. 

Titel, who once let student actors perform 
Mozart’s “Marriage of Figaro” in a theater 
lobby, compared Moscow’s current artistic 
atmosphere to tum-of-ihe-cennny St. Peters- 
burg. In the old czarisl capital, theater, poetry 
and painting all flourished during a period of 
political unrest. “Change is happening here 

: at an incredible speed, and the theater is quick 

to reflect it.” he said. “Like in St. Petersburg, 
rarg wuiiio some of the creations are terrible, some good. 

Eventually, a process of selection will occur 
and the best will survive." 

He and other directors praise Mayor Yuri Luzhkov tor 
providing subsidies, with no artistic strings attached. 
Luzhkov, whose city government owns numerous busi- 
nesses, has provided money for other artistic projects. Mos- 
cow's art establishment has sharply criticized most of the 
projects — in particular, his patronage ot a sculptor who 
constructed a huge, cartoonish statue of Peter the Great on 
the banks of the Moscow River. His support for the opera. 


Ji 1 I 


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however, has won only applause. 

“We don ’i know exactly where he gets his money, but we 
hope he gets more of it,” Titel said. 

The state-sponsored Bolshoi often seems to be a dinosaur 
when compared with its competitors. But on occasion, it too 
seems capable of rising to new artistic freedom. Critics 
widely praised a production of Prokofiev's ' ‘Love for Three 
Oranges,” directed by the actor Peter Ustinov. A critic in 
Ekspert Magazine, in an article titled "Miracle at the 


Two otherpopolar new companies were bom in small halls: 
the Novaya Opera (250 seats), directed by Yevgeni Kolobov, 
and the Chamber Opera (180 seats), run by Boris Pokrovsky. 
Each has won tame outside Russia. Kolobov took “Eugene 
Onegin” to Broadway last month, while Pokrovsky’s troupe 
is planning a trip to Japan. Alexander Titel, director of toe 
revived Stanislavslty/Nemiiovich-DaRchenko Theater, which 


I orrr on 


Bolshoi,” wrote: “Something happened to the performers 
of toe Bolshoi Theater. They no longer shuffled aimlessly 
about the stage and didn’t adopt clich&l poses. They plavca 

living characters It has become a sign of good taste to 

criticize the Bolshoi of late, but it has finally staged a worthy 
production. - 


and the pageantry, albeit with a reduced chorus, resembled a performs in a bigger venae, is negotiating in Amsterdam to 


Communist-era parade on Red Square more than anything 
familiar to King Tut. The marching children wore scarves 


take Rimsky-Korsakov’s “Tale of toe Tsar Saltan” tone. 
The opera craze is perhaps surprising, since many Russian 




of? 


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BOOKS 


PEOPLE 


... 

> .~ntm 


‘Medieval Journey 5 Goes Astray 


C ANDLE flames blew at the win- 
dow and peonies spilled from 


By Doreen Carvajal 

New York Times Service 


"EW YORK — The academic attacks on a 
tale of a medieval voyager who appar- 


' The book was published in Britain by 
Little, Brown & Co-, but in September its 
sister company in the United States postponed 
the Nov. .3 publication date. For the moment, 
toe fate of toe book remains “in a holding 


ently beat Marco Polo to China are widening, pattern,” said Beth Davey, director of pub- 
wito more scholars dismissing toe newly pub- licity for toe company in New York. 


lished book as a clever forgery. 


Alison Menzies, a Little, Brown publicist 


The book, “The City of Light,” has been for “The City of Light” in Britain, said the 
published in Britain, where sales have been book was selling well there, though she did not 


strong, but its release in the United States has 
beat delayed as the scholarly debate intensifies. 


ic figures. “This is a book that we 
with the Christmas market in 


The latest critique was Tuesday afternoon, mind,” Me nzie s said, “and we haven’t been 

...L_ . TT ' -Cl •» 


when a University of Lon- 
don professor in Chinese 
history scheduled a lecture 
there titled “The Fairing of 
‘The City cf Light.’ ” And 
in recent weeks other schol- 
ars, in Tel Aviv and London, 
reported finding an Arabic 
word in the author's gloss- 


Critics say it is like 
finding the word 
Oldsmobile in the 
Dead Sea Scrolls. 


disappointed.’’ 

Since the book’s post- 
ponement in die United 
States, criticism has only 
intensified Bernard Wass- 
erstein, president of the Ox- 
ford Center for Hebrew and 
Jewish Studies, and his 
brother, David, professor 


V — dow and peonies spilled from 
classical urns as stars tinned out in 
New York to celebrate the Metropol- 
itan Museum’s exhibition of the work 
of slain fashion designer Gianni Ver- 
sace. Elton John stood beside Dona- 
tella Versace to receive European 
fashion designers, who included Nino 
Cerruti, Gianfranco Fetre, John 
Galliano (in highwayman frock coat), 
Jean Paul Gaultier (in a Chinese 
cheongsam), Karl Lagerfeld, Alex- 
ander McQueen and Valentino. The 
American contingent was led by 
Ralph Laur en rad Calvin Klein. 
Among a gridlock of fashionables, 
were Claudia Schiffer with fianed 
David Copperfield the actor Rupert 
Everett, Princess Marie Cbantal of 
Greece and Princess Rosario of Bul- 
garia. The gala dinner was followed by 

S in concert and a‘ tribute from 
mna to Donatella Versace, who 
said that her brother’s dream had been 
to be exhibited at the Met 


pleading no contest to drug and 
weapons charges and he spent about 
three months in a rehabilitation pro- 
gram. The probation was revoked Oct. 
17, when his drug counselor told au- 
thorities that Downey had used drugs 
and alcohol in September. 


Mick Jagger and Jerry Hall have 
a new baby. Hall gave birth early 
Tuesday in London to a boy, Gabriel 
Luke Beauregard Jagger. They 
have three other children, and Jagger 
also has two other older daughters. 


ary that they say was tantamount to finding toe of Islamic history at Tel Aviv University, say 


word Oldsmobile in the Dead Sea Scrolls. they are convinced that it is a fraud because of 


The level of scholarly vitriol is such that Jacob’s use of the word “mellah," which they 
historians have abandoned their customary dry contend did not exist in his lifetime. 


conversation. “It’s unanimous. 1 ’ said Benjamin 
Braude, a history professor at Boston College. 
“The book stinks. The book is a fraud.” 

“City of Light” is said by its writer, a former 
Oxford University professor, to be a translation 
of a secret manuscript written in the 13th cra- 
nny by Jacob of Ancona, an Italian Jewish 
merchant who chronicled his journey to a busy 
port in southeastern China where he discovered 


While sailing south through the Persian 
Gulf. Jacob reaches toe Persian shore at toe 
entrance to toe gulf, where he describes a 
“mellah,” a small Jewish quarter, according 
to a glossary written by Selboume. 

“Mellah” is roughly equivalent to 
“ghetto,” said David Wasserstein, who ad- 
ded that it did not come into popular usage 
until more than 150 years after Jacob’s pur- 


“a ary of measureless trade" tom by debates parted voyage. The root of toe word is salt. 


The Museum of Modem An in 
New York has selected toe design of 
Yoshio Taniguchl, an architect based 
in Tokyo, for its expansion. Museum 
officials said they expected to begin 
construction in two to three years. Tie 
selection committee chose Tanigu- 
chi’s plan from a list of three finalists 
that also included the partners 
Jacques Herzog and Pierre de 
Meuron of Switzerland and Bernard 
Tschumi of New York. 


Exactly 1 00 days after her death, the 
world of ballet paid tribute to Diana, 
Princess of Wales, at a gala she would 
have been attending. The Fjiglish Na- 
tional Ballet’s performance of “The 
Nutcracker” was dedicated to Diana, 
rad her place at toe gala was taken by 
herformer brother-in-law, Prince An- 
drew, who told the dancers afterward, 
“The Princess of Wales would have 
absolutely adored it. It was quite out- 
standing.” . . . Tie handwritten lyrics 
to "Candle in the Wind 1997,” Elton 
John's funeral tribute to Diana, will 
be sold at auction. Proceeds from the 
Feb. 11 sale at Christie's in Los 
Angeles will be donated to the Chil- 
dren's Hospital there. 



lii'Mad Ckfli 


?**' ’ ’ * r iih 


***** 




Nki.ll'TV tw,ulnllV« 

Robert Downey Jr. being led out ot the courtroom in handcuffs. 


about issues still current today. 

The writer, who describes himself as the 


book’s translator, is David Selboume, 60. a gathered after 1438. 


and the word is derived from a community 
near a salt marsh in Fez, Morocco, where Jews 


The contents of the apartment in the 
Dakota in New York into which Le- 
onard Bernstein and his wife moved 


in 1974, will be sold at auction at 
Sotheby’s on Wednesday and Thurs- 
day. “It’s awful to say good-bye to a 
place that yon love, but we really knew 
it was time to move on,” said Jamie 


Briton who lives in Uibino, Italy. He did not 
respond to requests for an interview, but has 


“We can say conclusively that this case is 
proven,” Wasserstein said, “because it re- 


said he was allowed to read the manuscript only quires something parallel to the appearance of 


on condition that he not show the original to 
others or reveal its owner’s identity. 

After publication of a review questioning toe 
book’s authenticity, Selboume replied with a 
letter to The Times of London’s Liieraiy Sup- 


plement, asking m jest fora groiro of academics, 
or a “literary Public Safety Committee," to 


or a “literary Public Safety Committee." to 
prepare a “common critique.” “In fact ir is all 
too late,” Selboume wrote, after making the 
suggestion. “Jacob's argosy is well and truly 
launched upon toe high seas, and nothing — 
certainly not the harpoons of toe critics vainly 
pursuing in toe wake — can stop its passage.” 


‘Oldsmobile’ or ‘sbopaholism’ in die Dead 
Sea Scrolls.” 

Inside Oxford University, where Selboume 
taught toe history of ideas at Rus k in College, 
he still has some supporters. “He told me, 
looking me in the face, that this is genuine,” 
said Tudor Parfitt, a professor of modem 
Jewish studies at the University of London. “I 
tend to believe in what people tell me. 1 
believe him an honorable man, but some of 
toe criticisms are fairly difficult to counter. 
What we're all waiting for is him to come out 
of his comer with his manuscript. ” 


A judge who said he was running 
out of ways to rehabilitate Robert 
Downey Jr. has sent toe actor to jaiL 
Lawrence Mira, a municipal judge in 
Malibu, California, had avoided giv- 
ing Downey prison time after a string 
of drug arrests and second chances. 
Mura had even altered toe actor's pro- 
bation schedule so Downey could 
keep making movies. But the judge 
sentenced the actor to six mouths in 
jail after he broke the terms of his 
probation. Downey was led out of the 
courtroom in handcuffs. “I have no 
excuses,” Downey said. “I find my- 
self defenseless.” He was sentenced 
last year to three years’ probation after 



Bernstein Thomas, describing toe 
dismantling process she and her sib- 
lings, Nina Bernstein and Alexander 
Bernstein, went through. Leonard 
Bernstein died in 1990 rad their moth- 
er, Felicia Montealegre Cohn, ini) 
1978. A portion of the proceeds from^T 
toe auction will go to the Bernstein 
Education Through the Arts Fund. 

□ 


When Ralph Fiennes read the 
script for the movie “Oscar and 
Lucinda" and discovered its quirky 
male lead, he declared, “I am Oscar. * ’ 
Fiennes, who plays the oddball loner 
in the movie based on Peter Carey’s 
novel of the same name, said “There 
is something in Oscar I 'feel an em- 
pathy for. It is something to do wi* 
faith and guilt and conscience, with 
the struggle -between spiritual aspir- 
ation and the recognition of toe pleas- 
ures of being alive.” 


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