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Herald 


INTERNATIONAL 






The World’s Daily Newspaper 


Europe Tackles 
The Big Shift to 
A Single Money 


Difficulty of ’99 Changeover 
Stirs a Panic’ as Companies 
Spend Millions to Get Ready 


By Tom Buerkle 

International Herald Tribune 


LONDON 1 — A group of bankers scheduled a 
meeting with the Bank of England last month to 
discuss technical preparations for the introduction 
of Europe’s single currency, expecting about 20 
experts to attend! They scrambled for chairs when 
95 showed up. 


Across Europe and around the world, bankers 
and corporate executives are fast waking up to the 
r ealizati on that economic and monetary union is 
barely one year away and that the launch of the 
euro, as the single currency will be called, will 
demand costly and far-reaching changes in the 
way they do business. 

“There's that whiff of panic in air,” «a id 
Graham Bishop, an economist at Salomon S mith 
Barney and chairman of the European monetary 
union committee of the London Investment Bank- 
ing Association. “People suddenly realize 

COUNTDOWN S'T got “ have =v«ythmg 
TO THE EURO re ^y g°- 

B anks and companies will 
| §925^9 ^ >ave IO modify everything horn 
computer systems to billing and 
mSSB forms to accept the euro 

as well as existing national cnr- 
989 rencies over three years, or until 
2002, when countries participating in the euro are 
to abandon their national currencies. 

The task is more complicated and expensive 
than solving the year 2000 computer problem, 
which for all its complexity requires only a one- 
time fix. What’s more, the close proximity of the 
two problems has triggped a rush, for information 
technology experts, driving up salaries for com- 
puter programmers by as much as half in the past 
year. 

Analysts estimate the euro bill for European 
industry alone at a minimum of $80 billion, more 
than half of which will be spent on computer 
services. Companies around die world that trade 
with or invest in Earope will need to spend tens of 
billions more to prepare for the single currency. 

That counts only direct transition costs. The 
elimination of national currencies will make it 
much easier for consumers to compare prices . 
across borders; a fact that executives say will 
force die prices of their goods and services down 
toward the lowest levels prevailing in Europe. 

“It’s going to squeeze margins very substan- 
tially," said Vicky Pryce, chief economist at 
KPMG Management Consulting. • 

The costs may be daunting, but most major 
European companies are not complaining. They 
figure that die euro is inevitable, and enterprises 
that are prepared to deal in the currency from Jan. 

1, 1999, will gain a competitive advantage over j 
their rivals. 

That is particularly true in banking, the industry 
most affected by a change in money. 

Banque Nationals de Paris is spending 1.5 1 
billion French francs ($252.4 million) — 10 times 
its year 2(XX) budget — to modify everything from 
its securities trading systems to cnstomer check- 
ing accounts in order to give all of its customers 
die option of dealing in either francs or euros from 
1999. BNP expects many large corporations and 
bond markets to make the switch almost im- 
mediately, but its research also indicates that 10 
percent of retail customers will want to shift their 
accounts into euros in 1 999, a conversion the bank 
plans to make free of charge. 

‘ ‘We will have to offer both means of payment 
to all of our customers for three aid a half years," 
said Jean-Francois Colin, the senior vice president 
who is coordinating the bank’s efforts. “The only 

way to recover the costs is to get market share.” • 

Dresdner Bank AG in Frankfort views the euro 
as an opportunity to invest in long- train im- 
provements. It will spend op to 300 m i ll i on 
Deutsche marks ($168.8 million) to mo d e r n iz e its 
data-handling and electronic payments systems. 

“We’re not moaning and complaining about 
it." said Klaus Friedrich, chief economist at die 

bank. "We’re hoping to make some money out of 

this." 

' Some non-European banks, and fimmcial ser- 
vices companies appear to be taking a more 
relaxed view of the teansitton. At Daiwa Europe, > 


See EURO, Page 10 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON 


Paris, Wednesday, December 17, 1997 


Mandela Gives a Militant Farewell to the ANC 


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Thabo Mbeki, left, conferring with Nelson Mandela on Tuesday at the ANC meeting. Mr. 
Mbeki is succeeding Mr. Mandela, who gave a militant speech, as head of the party. Page 6. 


ASEAN Chiefs See No Solution 

‘We Are Victims,’ Mahathir Says as Free Fall Continues 


By Thomas Fuller 

International Herald Tribune 


KUALA LUMPUR — Asian leaders wrapping up a 
meeting here that was meant to restore confidence in 
their economies failed a gain Tuesday to stop die free 
fall of the region’s currencies, four of which hit record 
lows. 

A normally feisty and combative Malaysian prime 
minis ter, Mahathir bin Mohamad, reflecting the in- 
ability of Southeast Asian leaders to solve die crisis 
after three days of talks hoe, said: “We are not in a 
position to do anything. We are just die victims." 

He added, “When you are up against forces that you 
can’t fight against, there is little you can do." 

South Korea, however, showed signs of recovery 
Tuesday as the won surged 14 percent after the gov- 


See CRISIS, Page 10 


The Changing Calculus of Asia 


The Desire for Democracy 
Challenges the Old Order 


Economic Miracle 9 s End 
Alters Foreign Policies 


By Keith B. Richburg 

Washington Post Service 


By Steven Mnfson 

Washington Post Service 


KUALA' LUMPUR — In Taiwan last month, the 
governing Nationalist Party suffered its biggest defeat 
in local elections, presaging a possible loss of power in 
next year’s national elections for a new Parliament. 

In South Korea, meanwhile, opinion polls show a 
veteran pro-democracy campaigner and longtime 
political outsider has his first real shot at power in 
elections this week. 


In die Philippines, a revived “people power” 
movement ana vociferous media criticism forced 
President Fidel Ramos to abandon thoughts of running 
far another term, while in Thailand, popular protests 
and media pressure forced an unpopular prime min- 
ister, Chavalit Yongchaiyudh, to relinquish his office 
last month and retire to the political sidelines. 

Even in tightly controlled Indonesia — where gen- 
eral elections are still derisively called “elections of 
generals” — there are discernible stirrings of dis- 
content and change. President Suharto is set to be 
anointed next year to a seventh consecutive five-year 
term, but there is already open talk about the “post- 
Suharto era." 

The question now, say Indonesian analysts and 
journalists, and foreign diplomats there, is not whether 
tire vast archipelago wm democratize, but at what pace 
and in what manner. 

For most of the last three decades, East Asia has 
been known largely as a region of miraculous eco- 
nomic growth but stilted political development, with 
most countries led by military regimes, autocratic 


SEOUL — The swift disintegration of the Asian 
economic miracle is changing the calculus of Asian 
international relations. 

Talk about China’s great power aspirations, Korean 
reunification. Japanese recovery ana rejuvenation has 
ended as government leaders here concentrate on how 
to hang onto some of tire economic gains they made in 
recent years. 

And Beijing has twice played down its emphasis on 
isolating Taiwan to let Asian nations court investment 
from the cash-rich island and bring more stability to 
the region’s markets. 

“This will prove a very trying and angry time for 
leaders who are reeling from events they can neither 
comprehend nor manage,” said Jonathan Pollack, an 
Asian politics expert at the Rand Coip. "Geopolitics, 
though not exactly on hold, will take a back seat for 
now.” 

“And regional expectations of U.S. leadership,” 
including financial support, he said, “are likely to rise 
unrealistically.” 

Korea provides a prime example of the sudden 
change in foreign policy priorities here in Asia. Just 
earlier this year, South Korea was contemplating a 
major role in North Korea, including billions of dollars 
of aid far famin e relief and economic development in 
return for a more open and less hostile north. Now such 
a role — much less a more costly reunification be- 
tween the two halves of the peninsula — is' un- 
thinkable. . 


See ASIA, Page 4 


See POLICY, Page 4 


The Dollar 


NwYbjk Tuwdav Q4P.M. pwtaactow 
DM 1.7BP4 1-776 

POund t-6355 1-rag 

Yew 130.77 130-77 

FF 5.9659 S-M95 


Skeptical Ayatollah Faces Treason Charge 


By Douglas Jebl 

Hew York Tuna Service 


The Dow 


7976-31 


Tuesday mmtouBCtow 

966.04 963.39 


Nmne tand Price* 


Andorra -..10.00 FF Lebanon -U- 3 ^ 

Arties 12.50 FF Morocco..- — - 16 

Cameroon.- 1.600 CFA Qatar 1000 OR 

Egypt EE S50 Reunion 1z - 50 ff 

France 10 . 0 O FF Saudi AjaHa-.-lO SR 

Gabon. 1 . 100 CFA Senegal — 1.100 

Italy. .2,800 Lira Spain JJJJ 

Ivory Coast. 1.250 CFA Turaaa 

Jordan 1.250 JO UAE. 10 -^^ 

Kuwait 700 FIs UA Ml (Eur.)-_-S120 


■V 



QUM,Iran — Clerical authorities are 
hinting that they intend to press treason 
charges against Ayatollah Ali 
Montazeri, a prominent theologian who 
challenged the credentials of ban’s re- 
ligious leadership, signaling that they 
will not yield any of their power despite 
the hopes raised last spring when a 
moderate was elected president 
A prominent theologian in this holy 
city of Qum, Ayatollah Montazen is- 
sued die challenge by questioning the 
credentials of an old rival who now 
Ireid s the religious establishment 
Ayatollah Montazeri once seemed 
destined to become the country’s top 
religious leader, but be fell from favor 
when he criticized tire harsh treatment of 

political dissidents. Although he still has 
man y followers, he has been shunned by 
tire establishment and all but ignored by 
the country's official media. 

His challenge in November set off 
days of demonstrations here and across 
Iran as conservative I ranians rallied bo- 
hind his rival. Ayatollah Sayed Ali 
Khamenei, now the supreme leader. 


Iran’s Clerics Signaling 
They Will Keep Power 


Ayatollah Khamenei and his allies 
have since directed their supporters to 
end the protests, perhaps hoping to veil 
signs of internal tensions at least during 
the recent summit meeting of Islamic 
countries in Tehran. 

But they have also indicated that they 
intend to try Ayatollah Montazeri on 
treason charges. Some of their criti- 
cisms have been echoed even by back- 
ers of President Mohammed Khatami, 
the more-moderate cleric whose over- 
whelming victory in national elections 
may have emboldened critics of the 
establishment. 

Conviction of treason carries a max- 
imum penalty of death, and its very 
mention appears intended to drive home 
the message that no one should dare 
threaten the supremacy of Ayatollah 
Khamenei, 58. 

He was appointed in 1989 to succeed 
Ayatollah Ruhollah Khomeini, the ar- 
chitect of the Islamic revolution 10 
years earlier that overthrew the shah and 


turned the country into a Shiite Muslim, 
theocracy. 

“I think people who had the wrong 
interpretation of die presidential election 
have now been proven wrong,” Grand 
Ayatollah Nasser Makarem Shirazi, 70. 
one of Iran's most respected clerics, said 
in an interview in his office here. 

At a news conference in Tehran on 
Sunday. Mr. Khatami appeared to take a 
softer line toward dissidents than does 
Ayatollah Khamenei, who said they 
would be tried for challenging his au- 
thority. 

"Views should be presented in the 
formula of law. and no rebellion or 
anarchy should be introduced in the 
world,” Mr. Khatami said when he was 
asked about the challenge raised by 
Ayatollah Montazeri. “If some people 
have taken extreme action, this is for- 
givable, and I would hope views could 
be presented within the law." 

Among remarks by Ayatollah 
Montazeri that were circulated here last 
month were suggestions that Ayatollah 
Khamenei lacked the religious creden- 
tials to exercise authority properly in his 


See IRAN, Page 10 



No. 55.706 


Clinton Praises 


Opening by Iran 


Khatami's Move to Improve Ties 
Leaves the President Encouraged 


By Brian Knowlton 

International Herald Tribune 


eminent let the currency float. 

Southeast Asian nations hoping to see Japan take a 
more active role in helping solve the crisis were told 
instead that Tokyo needed to deal with its own prob- 
lems. Rime Minister Ryu taro Hashimoto said in 
strong language that Japan could no longer steer Asia 
as* it had in previous years. 

“It’s most important that Japan steady itself," Mr. 
Hashimocp said. “This is not just my view, but the 
view expressed by all the other leaders. We shall never 
at any cost allow Japan to be the source of worldwide 
recession." 


On Monday, Mr. Mahathir and his counterparts in 
e region called on the West for assistance in resolv- 


the region called on the West for assistance in resolv- 
ing tire turmoil, saying that a concerted worldwide 


WASHINGTON — President Bill 
Clinton on Tuesday called Iran ‘ *a coun- 
try with a great history" and said, in 
unusually conciliatory comments, that 
he was encouraged by a recent opening 
from the Iranian president and hoped 
that dialogue could resume. 

Mr. Clinton’s comments on Iran fol- 
lowed a call Sunday by the Iranian pres- 
ident, Mohammed Khatami, for a 
"thoughtful dialogue” with Americ- 
ans. an opening that U.S. officials 
clearly are intent to explore. 

The president said that by electing 
Mr. Khatami in May, Iranian voters 
“seemed to be sending a signal that they 
wanted a more open society, and I was 
quite encouraged by his remarks.” 

Replying in kind to Mr. Khatami, but 
careful to speak to the Iranians rather 
Chan their government, Mr. Clinton said: 
‘ T have always said from the beginning 
dial it was tragic that the United States 
was separated from the people of Iran. 
It's a country with a great history." 

Americans, he said, “have been 
greatly enriched by Iranian, by Persian 
culture.” 

Mr. Clinton reiterated, however, that 
the United States held serious reser- 
vations about Iran’s support of terror- 
ism, its efforts to disrupt tne Middle East 
peace process, and its moves to build an 
arsenal of weapons of mass destruc- 
tion. 

Administration officials. Mr. Clinton 
said, were discussing how to respond to 
the Iranian gesture, and added. “No 
decision has been made." 

The president, speaking in a formal 
news conference, also said he was 
“very encouraged" by efforts that 
South Korea had made to confront its 
financial crisis. 

He insisted, however, that any further 
U.S. assistance to ravaged Asian econ- 
omies should come within a framework 
established last month in Manila. 

Mr. Clinton also: 

• Conspicuously failed to give un- 


of Israel or the government of Israel. 

"I simply wouldn’t do that.” he said, 
adding. “I expect that we will have a 
meeting early next year, a sixth meeting, 
to discuss where we are and where we 


are going. 

Although France. Russia and some 
other countries have sought to normal- 
ize trade relations with Iran, U.S. of- 


ficials remain wary of dealings with the 
Iranian government, in pan because, for 


See CLINTON, Page 10 


Albright Urges 
NATO to Fight 
Arms of Mass 
Destruction 


By William Drozdiak 

Washington Past Serve 


qualified public support to Louis Freeh, 
the director of the FBI. who publicly 


the director of the FBI. who publicly 
criticized the attorney general. Janet 
Reno, for deciding not to appoint a 
special prosecutor to investigate cam- 
paign funding irregularities involving 
the White House. 

• Said he would meet Prime Minister 
Benjamin Netanyahu of Israel early 
next year and denied he had recently 
refused to hold talks with him. 

Mr. Clinton said there had been no 
"calculated decision ro snub the people 


BRUSSELS — The U.S. secretary of 
state, Madeleine Albright, urged the 
NATO alliance onTuesday to recognize 
the spread of nuclear, biological and 
chemical weapons in the Middle East 
and Eurasia as its most pressing stra- 
tegic priority in the post-Cold War era. 

Citing the proliferation of such 
weapons as “the most overriding se- 
curity interest of our time,” Mrs. Al- 
bright told NATO foreign ministers 
here at their annual meeting that the 
struggle to keep weapons of mass de- 
struction from falling into the wrong 
hands should be seen as the new "uni- 
fying threat" that binds the alliance in 
the 21st century. 

Much of the meeting was devoted to 
pondering the fate of the NATO-led 
peacekeeping force in Bosnia-Herzego- 
vina, whose mandate expires in June. 

While President Bill Clinton has re- 
frained from making a final decision 
about keeping U.S. troops there, the 
ministers here were unanimous on the 
need to maintain an international pres- 
ence. Mr. Clinton and congressional 
leaders will visit Bosnia next week to 
assess the situation (Page 10). 

Mrs. Albright’s warning reflected the 
U.S. frustration at sustaining an inter- 
national coalition against the refusal by 


See NATO, Page 10 








IjSnp 


Bcnm Dnnugne/Ttralcn 

Mrs. Albright talking with Robin Cook, British foreign minister, center, 
at the NATO meeting in Brussels on Tuesday, as Ismail Cel of Turkey 
listened. Behind them, from left, were Jacques Poos of Luxembourg, 
Hans van Mierlo of the Netherlands and Knut Vollebaek of Norway. 


AGENDA 


No Change Made in U.S. Interest Rates 


PAGE TWO 

The Demise of the Orangutan 

EUROPE Page 5. 

German Neo-Nazis Take to Internet 



Crossword 

Page 12. 



Sports ...» 

Pages 20-2L 

The IntermarkBt 

Pages 4, 11. 

| The JHT on-line 

iviviv.fhi.com | 


WASHINGTON t AP) — Caught 
between a thriving economy at home 
and fragile financial markets over- 
seas. Federal Reserve Board policy- 
makers played it safe Tuesday and left 
short-term U.S. interest rates un- 
changed. The move reflected the cen- 
tral bank’s overriding concern that 
Asia’s currencies not weaken further 
against the dollar, analysts said. 

U.S. markets responded positively, 
with stocks extending their recovery 
and bond prices rising on expectation 
of continued low inflation. Page 14. 


Clinton Issues a New Warning to Iraq 


WASHINGTON (AFP) — Presi- 
dent Bill Clinton warned Tuesday of 
furtherpunitive actions a gainst Iraq if it 
fails to give UN inspectors full access 
to its suspected weapons sites. 

“If there is further obstruction of 
the United Nations mission, we have 
to consider other options," Mr. Clin- 
ton said at a press conference. 

The chief UN weapons inspector. 


Richard Butler, left Iraq on Tuesday 
without gaining access to presidential 
palaces, which Iraq has declared off- 
limits despite a call from the Security 
Council for fill access. 

Mr. Clinton would nor specify 
what actions the United States might 
take but said: "I wouldn't rule out 
anything. I never have and I won’t." 

Related article. Page 6. 








INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 

” PAGE TWO 


The Orangutans of Indonesia / A Disaster in Progress 

Fires Threaten One of Our Closest Relatives 


By Seth Mydans 

New fort Tima Service 

A N JTUNG PITTING, Indonesia — Terrified 
orangutans have been fleeing their jungle 
homes as never before, driven by vast 
forest fires and choking smoke that have 
swept across their habitat in Borneo and Sumatra 
since the summer. 

By the hundreds, they are being killed by 
frightened villagers and plantation workers pro- 
tecting their crops. Females especially are being 
killed so their babies can be taken to fuel an illegal 
trade in young orangutans. 

More than 100 animals, some of them badly 
injured, have been rescued by conservationists from 
local traders and villagers who have locked them in 
cages, for sale or to be kept as pets. 

Most of them are juveniles who have not yet 
learned to live on their own in the jungle. It will take 
years of training to teach many of than the lessons 
they would have learned from their mothers: bow to 
build their nightly nests, and how to feed themselves 
on the 400 varieties of fruit and bark and grubs dial 
form their natural diet. 

Stark as it is, the disaster of the fires has only 
worsened a crisis that is threatening the future of one 
of humankind’s closest relatives, said Barita 
Manullang, an orangutan expert with the World 
Wild Fund for Nature Indonesia Program. 

“Actually,” Mr. Manullang said, “without the 
fires themselves the orangutans are already under 
severe pressure from loss of habitat Now the situ- 
ation is much more critical. This is, I guess, the 
worst situation for orangutan life in this century. ' ’ 
“Now they really need to escape from the fires 
and the heal and also the haze, very thick haze,” he 
added, pointing out that the smoke had also stunted 
the growth of jungle fruits, which will lead animals 
to starvation in the year ahead 
Until the haze and fires abated recently, other 
jungle animals like tigers, elephants, Malayan sun 
bears and flying foxes also fled, often to die at the 
hands of villagers. 

Most scientists estimate there are now 20,000 to 
30,000 orangutans in the wild, all of them on die 
Indonesian island of Sumatra and on Borneo, which 
is divided among Indonesia, Malaysia and Brunei. 

The greatest threat to their survival is the dev- 
astation of their habitat, which has accelerated 
sharply over the last decade as big logging compa- 
nies strip the forests. The World Wide Fund for 
Nature estimates that their range has shrunk by 
more than 90 percent over the last half-century, 
along with a huge reduction in their numbers. 

The fires have only quickened the destruction. 
“It’s very scary," said Birute Galdikas, a pioneer 
in orangutan research. She has worked with them 
here in Central Kalimantan Province for 26 years. 

“We are looking at the demise of die orangutan as 
a species in the wild, which basically is what happened 
to American bison,” she said. “It's a terrible situation, 
and unfortunately it’s not going to change. The illegal 
logging and the clearing of trees for plantations are 
absolutely demolishing the forests.” 

Orangutans are a fragile species, breeding slowly 




Over the years, she has helped 
more than 1 (a) orangutans return to 
the forests. But many of them remain 
immigrants in their own habitat and 
spend much of their time close to 
Camp Leakey, where they receive 
daily feedings and beg for treats. 

On one recent day when there was 
no ‘ feeding, a large female named 
Yuni, with her baby clinging to her 
neck, waited hopefully outside the 
kitchen door of a camp dormitory, 
together with several cats. 

A nftyrr eamp in Ffl« Kalimantan, 
run by a researcher named Willie 
Smits, pursues more of a tough-love 
policy, offering fewer comforts and 
pushing the animals back into -the 
forests more forcefully. 

Mr. Smits’s camp Has become the 
halfway house for orangutans res- 
cued from the fires, and more than 
100 now wait there in makeshift 
cages for frees to be put out. 

On a recent tour of the island, Mr. 
Manullan g said, be was shocked to 
discover bow many others remained 
. in captivity in private homes. - 
“It’s very scary,” he said. “They 

come into- the villages and rarely can 

sribw 7 dMwiviv«'Eni'n>a> * they find any trees, so they just lie on 
the ground. They invade the people's 
■ -■ - _ gajdens and plantations. People are 

Females are killed so (heir babies can be taken scared to death to see those wild 
to fuel an illegal trade in young orangutans. 

• mothers and steal die babies." 

and needing a wide range to forage. The males roam He said be bad visited three villages and found 

the forests alone, devouring huge quantities of fruits; captive babies in each of them, fed and cared for by 

the females raise their young in more settled ter- fanners who barely had food for their own families, 

ritories, giving birth just once every eight years or so. So be said he had broken a cardinal rule and paid 

then spending several years raising their offspring. for their pets. “Sometimes, yes, Tm Sony to say, I 


I T IS against the law to own an orangutan in 
Indonesia, but the laws are widely flouted. 
Young orangutans are utterly charming — 
wide-eyed, playful and trusting — and local 
people, particularly childless couples, often adopt 
them as members of the family. 

Pet orangutans are sometimes dressed in human 
clothes, given pillows for their beds and fed together 
with the family, people here say. Sometimes they 
are taught to perform simple tasks as servants, like 
opening doors and fetching food. 

When they are frilly grown — some reaching live 
and a half feet and 150 pounds (1.7 meters and 68 
kilograms) — orangutans can be unruly. Their 
owners often dispose of them, sometimes selling 
them to traders for zoos. 

With the backing of national and local officials. 
Ms. Galdikas began recovering these pets and train- 
ing them at her base. Camp Leakey, to live in the 
wild. Like Dian Fossey , who lived with gorillas, and 
Jane GoodaU, who studied chimpanzees, Ms. 
Galdikas was a disciple of the paleontologist Louis 
S.B. Leakey, 


He said be bad visited three villages and found 
captive babies in each of them, fed and cared for by 
fanners who barely had food for their own families. 

So be said he had broken a cardinal rule and paid 
for their pets. “Sometimes, yes, Tm Sony to say, I 
paid them,” he said. “I found it difficult to defend 
what I had done. My colleagues said, ‘You will 
encourage them to keep orangutans.’ ” 

Other rescue efforts, though better organized, are 
often less successful 

In Palangkaraya, capital of Central Katimantan 
Province, a task force of local officials recently 
made the rounds of homes and shops where or- 
angutans were being kept in ca^es. They were 
empowered only to take away animals that were 
surrendered voluntarily. 

Two-way radios in hand, they pounded on doors 
and announced, “We've come to talk to you aboat 
your orangutan.” They were met with denials, tears 
and refusals. 

“No!” cried a 7-year-old girl “Don't take the 
orangutan!” . 

Her mother sat huddled with the pet on a couch, 
inside a shop on a clamorous street filled with 
hawkers, stevedores and a man carting along a sun 
bear in a cage. “This is my third son,” the woman 
said. “I cannot have any more babies, so I adopted 
it as my child. I breast-fed it I slept together with it 
You cannot take it away.” 



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TRAVEL UPDATE 

Train Strike Strands Itarisians 

PARIS (Reuters) — About 500,000 commuters the Greek carrier 
were stranded Tuesday when a train engineers’ The walkouts 
strike paralyzed Line B of Paris’s regiond RER strike called by 
network, transit officials said. union in an appe 

The strike is expected to last until the weekend, end its austerity 
The train engineers are demanding extra staff for 
World Cup soccer matches in Paris next summer. The internal* 

b b ia. damaged in w 

Walkouts at Greek Airline is .^H “ 

which will conti 

ATHENS (AFP) — Two four-hour walkouts by Airport outside tl 


US-Toll Voice Line -714-376-3020 US-Toll Fox Line *714-370-8025 


Tm worried *Doxi*t' worry, I've got him covered!" 

about the kid, X 

honey r S 


Deadly Freese Descends on Russia 


U.S. Airlines to Improve 
Mountain- Alert System 


By Matthew Lu Wald 

New York Tina Service 

WASHINGTON — The major U.S. 
ai r|rnp<: have ann ounced that they will 
install new satellite-based navigation 
equipment in the cockpits of 4300 jets, 
to give pilots mart warning when they 
are hgorirng directly toward a moun- 
tain. 

The airlines hope the new systems 
will prevent accidents like the American 
Airlines crash in Cali, Colombia, on 
Dec. 20, 1995, that killed 160 people. 

The Federal Aviation Administration 
p l a ns to issue a regulation in about a 
year that will require the equipment on 
ail planes seating six or more people. 

But tile airlines* action Monday 
means that many big planes will be 
w q ni ppftri years sooner than the rules 
will require. The airlines said they ex- 
pected to finish putting the new devices 
in planes by 2003. 

The equipment is called an “en- 
hanced ground proximity warning sys- 
tem’ * and costs §70,000 to $1 15,000 for 
plant*. The announcement Monday 
by the Air Transport Association, the 
trade group comprised of major Amer- 
ican airlines, covers 4300 aircraft; an- 
other 175 already have the system. 

For years airliners have been carrying 
less advanced equipment, which uses 


radar to sense altitude and sounds an 
pfarm in the cockpitif the plane begins 
losing altitude too fast. But the system 
has been desens itized to avoid false 
alarm s and often does not sound early 

enough. . . . . 

The wanting — a mechanical voice 

that cries, “Terrain! Tenain!“ — was 
one of fee last sounds beard on the 
cockpit voice recorder from the Cab 
crash two years ago. 

In that instance, as is often the case, 
the plane’s altitude relative to sea level 
was changing sfewly, but as it flew over 
the Andes, it crossed a valley and the 
mountain rose to meet it veiy rapidly, 
setting off the alarm only seconds be- 
fore impact, too late for the pilots to 
react and put die plane into a successful 
climb. , „ 

The new system does not rely on 
radar to determine altitude. 

Tnatgarl , it has a database of the 
world’s mountains. It uses the Global 
Positioning System, a constellation of 
satellites in orbit, to sense the plane's 
position. When it projects that a plane is 
on a course that will collide with a 
mountain, it sounds an alarm as much as 
60 seconds in advance, instead of just a 
few seconds. 

It can also provide mountain images 
on a video screen; these change color as 
the plane approaches the mountain. 


Duesseldorf Fire Ruling 

Airport to Pay Insurers $11 Million for 5 96 Blase 


Olympic Airways personnel planned for Thursday 
will disrupt domestic and international flights of 
the Greek carrier, union officials said Tuesday. 

The walkouts will be part of a 24-hour general 
strike called by the 600,000-member GSEE trade 
union in an appeal to the Socialist government to 
end its austerity program. - 

The international airport in Monrovia, Liber- 
ia, damaged in war, has been reopened after repairs. 
But it is still unsuitable far commercial airliners, 
whicb will continue to use James Spriggs Payne 
Airport outside the capital. (AFP) 


CtmgiUhfOurSveFnm Dbpscha 

DUESSELDORF— A German court 
ordered Duesseldorf airport on Tuesday 
to pay more than 20 million Deutsche 
marks in compensation to four insur- 
ance companies in connection with a 
fetal fire at the airport in April 1996. 

The insurance firms Nuemberger, 
Mima, Securitas, and Bremer & 
Deutsche Lloyd, which had paid out 
‘ insurance churns to retailers and res- 
taurants there, had brought the case 
against the airport. 

The amn tinr to be paid to the firms is . 
equivalent to $1 1.3 million. 

The blaze killed 17 people, destroyed 
several shops and restaurants and gutted 
an entire terminal 

A district court in Duesseldorf con- 
cluded that the airport authority had 
shown gross negligence by allowing 
flammable polystyrene ceiling tiles to 
be ingtallM in the terminal building. 

The court also ordered a company 
.hired to - carry but welding repair work 
that sparked the fire to pay 5 million DM 1 
in compensation to the insurance 
companies. 

It said the welding company ought to 
have checked the space under the repair 
area, where it would have spotted the 
inflammable material 

The court also found that the welding 
work was responsible for starting die 
blaze, bat rejected compensation for 
separate claims against the airport au- 
thority’s chief building supervisor and a 
subcontractin'. 

Several compensation claims by air- 
lines against the airport are still 
pending. 

Judge Ulrich Voss said the use of 
polystyrene panels in constructing the 


WEATHER 


airport ceiling presented a’ latent 
danger. 

“The fire could have been avoided,” 
Judge Voss said. 

The court decision is likely to in- 
fluence the outcome of the airport’s 
pending disputes with 15 other insur- 
ance companies demanding 132 million 
DM for damages paid to Lufthansa for 
business losses as a result of the fire. 

An airport spokesman, Torsten Hier- 
mann, and lawyers representing the 
construction company said they were 
considering an appeal of the judge’s 
ruling. (Reuters, AP) 


Cholera Epidemic 
Spreads in Africa 

Agcrure Fronce-Presse 

NAIROBI — A cholera epidemic is 
spreading fast in East Africa after two 
months of disastrous flooding, author- 
ities in tiie region said Tuesday. 

On Tanzani a's semi-autonomous is- 
land of Zanzibar, die death toll rose to 
80 Tuesday morning after 20 more 
deaths in die previous 24 hours, health 
officials said. They added that more 
than 600 people suffering from cholera 
had been admitted to hospitals. 

In Somalia, doctors said 15 people 
died of cholera in north Mogadishu and 
a nearby village over die last few days. 
In Kenya, newspapers reported feat 
cholera had killed more than 30 people 
in two Nairobi townships during the 
past two weeks. In Uganda, one person 
died and 70 others were admitted to 
Kampala hospitals, officials said. . 




Reuters 

MOSCOW — Record cold 
continued to grip much of 
central Russia on Tuesday, 
j freezing at least five people to 
death overnight in Moscow. 

Intense cold also led to a 
series of fatal fires in which 
13 people died over the week- 
end as residents turned up 
heaters for warmth. 



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The police said five people 
died overnight on Moscow's 
icy streets from cold, 25 were 
taken to hospitals with frost- 
bite, and 31 others were treated 
for lesser cases of frostbite. At 
least four others had died from 
cold over die past few days, 
including one who was killed 
by ice falling from a roof. 

A spokesman for the fire 
deportment said the fatalities 
from fires came from Friday 
to Sunday as temperatures 
plunged, and people struggled 
to keep warm at home. 

Overnight temperatures 
fell to minus 28.S degrees 
centigrade (minus 19.8 
Fahrenheit) in central Mos- 
cow, breaking a 1902 record 
of minus 28 centigrade 
(minus 18.4 Fahrenheit) for 
Dec. 16, said Tamara Mnat- 
sekemyan, a meteorologist. 


Correction 

A caption on the backpage 
Tuesday reversed the names 
of the actresses Linda 
Hamilton and Frances Fisher 
at the Hollywood premiere of 
the film “Titanic.” 


Europe 





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North America 

CUre mad across the east- 
ern United States Thurs- 
day through Saturday nth 
plenty of Sun. A storm vriV 
produce ram and mountain 
snow in the Roddes Thurs- 
day and Friday; dry and 
colder Saturday. MM in the 
Plains Thursday; muoh 
colder Friday and Satur- 
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Europe 

Mider air WO flow Inn cen- 
tral Europe Thursday 
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ing very cold across west- 
ern Russia- A storm will 
bring wet weather Into 
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ward -to the United King- 
dom. Mainly dry weather 
across southeastern 
Europe from Austria to 
Romania. 


Asia 

MOdar In Seoii and Tokyo 
Thursday through Satur- 
day. but there will be 
-clouds and some rain. 
Mostly dry and cold in 
Mongofb and Manchuria, 
though there can be a lew 
flurries In Manchuria 
Thursday. Cloudy, damp 
weather wfit continue 
across southeast China. 


Hong Kong 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 

THE AMERICAS 


RAGE 3 


Fears of Germ Warfare Ignite the Pentagon 


POLITICAL 


By Bradley Graham 

Washington Post Service 

. W^WNGTON — The decision 
by Defense Secretary William Cohen 
to vaccinate all U.S. military per- 
sonnel against anthrax bacteria fol- 
lows several years of debate in the 
Pentagon over the need for the vac- 
, cine and the best way of admimsterine 
it to American troops. 

It will be the first rime that Amer- 
ican GI’s receive routine inoculations 
against a germ warfare agent 

The decision Monday came against 
the backdrop of heightened concern 
i that Iraq has stockpiled supplies of 
anthrax, and anud U.S. warnings 


from a host of enemy states and ter- 
rorist groups. 

Defense officials denied any con- 
nection between the timing of the 
announcement and the renewed ten- 
sions with Iraq over the international 
inspection of germ-weapon facilities 
and other weapons installations. But 
Mr. Cohen ana his aides clearly ap- 
. peared eager to move forward with 
the program after doing much in re- 
cent days to call attention to die threat 
from germ agents generally. 

‘“This is a force-protection issue,*’ 
Mr. Cohen said in a statement. “We 


Panel Urges 
Segregating 
Military by Sex 

By Dana Priest 

Washington Post Service 

WASHINGTON — A civilian 
panel appointed by the Pentagon 
concluded Tuesday that female and 
male military recruits should be 
segregated during much of basic 
training and live in separate bar- 
racks in order to avoid an erosion of 
discipline and cohesion, according 
to defense sources. 

The panel, headed by the former 
Senator Nancy Kassebaum Baker, 
Republican of Kansas, said army, 
navy and air force drill instructors 
had become so preoccupied with 
preventing cases of sexual harass- 
ment that they were spouting too 
much time concerned with sepa- 
rating men and women and not 
enough time training them to act 
like a military unit 

'‘Because many trainers now in- 
sist their recruits refrain from talk- 
ing to the opposite sex at all tunes,” 
much of gender-integrated training 
today “provides little in the way of 
meaningful integration,” the report 
said. 

The panel's recommendations, 
which were formally released 
Tuesday, came as a surprise to 
many defense officials and likely 
will provoke a new round .of dis- 
cussion about how to integrate a 
growing number of women into the 
armed forces. 

This year, senior defense chiefs 
staunchly defended training men 
and women together after the prac- 
tice came under attack by Repub- 
licans in Congress after the sex scan- 
dal at the army’s advanced training 
base at Aberdeen. Maryland The 
panel was appointed by Defense 
Secretary William Cohen in the af- 
termath of the Aberdeen scandal. 

The Marine Corps is the only 
service that trains male and female 
itely. It believes sex- 


owe it to our people to move ahead 
with this immunization plan.” 

Under the plan, vac cinations will 
start next summer after the Pentagon 
carries out further tests of a huge 
vaccine stockpile in Michi gan and 
develops a system for tracking in- 
oculated soldiers. 

The shots will be administered first 
to about 100,000 soldiers stationed in 
such “high threat" areas as the Gulf 
and the Korean Peninsula, or who are 
scheduled to be sent there in the event 
of conflict All remaining active duty 
and reserve personnel are to be vac- 
cinated by 2004. 

A complicating factor is the length 
of the inoculation process, which re- 
quires six doses spread over 18 
months, plus annnai boosters. The 
Pentagon estimates the cost of im- 
munizing 2.4 million people, includ- 
ing some “mission essential'’ civil- 
ian employees, at $130 million over 
the next six years. 

“Our goal is to vaccinate every- 
body in the force so they will be ready 
to deploy anywhere, anytime.” 
Deputy Secretary of Defense John 
Hainre said in a statement 

Anthrax tops the U.S. govern- 
ment's list of biological warfare 
threats because it is considered the 
easiest germ weapon to make and use. 


An infectious disease that nor mall y 
afflicts animals, especially cattle and 
sheep, anthrax can be produced in a 
dry form ideal for storage. It can be 
ground into tiny particles that can be 
inhaled by humans. As little as one 
- hundredth of a millionth of a gram is 
enough to loll. 

Anthrax spores are very stable and 
can remain viable for many years in 
soil and water. When inhaled, they 
cause severe pneumonia and death 

• within a week. 

. The United States says that as many 

as 10 countries have the capability to 
at least load spores of anthrax into 
weapons, although no country is 
known to have released the bacteria 
on a battlefield. Washington re- 
nounced its germ warfare effort in 
1969 and signed an international con- 
vention outlawing such weapons. 

Because of limited vaccine sup- 
plies, about 150,000 of the more than 
500,000 U.S. soldiers sent in 1990 
and 1991 to evict Iraqi forces from 
Kuwait daring toe Gulf War were 
inoculated against anthrax amid fears, 
never realized, that President Saddam 
Hussein of Iraq might unleash the 
germ. 

About 3,000 U.S. military person- 
nel have continued to receive pro- 
tection against anthrax because of 


their assignments. They include med- 
ical and emergency response teams, 
groups that handle hazardous material 
and some special-forces units. 

When the idea of starting a regular 
vaccination program for all forces 
was broached several years ago, the 
military balked. They were dubious 
about toe need for that specific vac- 
cine, instead favoring development of 
a multipurpose vaccine that could 
counter a number of biological war- 
fare agents. Specialists told them such 
a vaccine would take years to per- 
fect. 

Some commanders argued that the 
United States could deter an anthrax 
attack simply by threatening massive 
retaliation. Military leaders also 
raised questions about the safety of 
toe anthrax vaccine; speculation at the 
time was that some of toe illnesses 
suffered by U.S. troops after toe Gulf 
War may have been caused by one or 
a combination of several vaccines. 

But by late last year, toe military 
endorsed the plan, reassured that the 
shots have no debilitating side ef- 
fects. 

Research has shown no link be- 
tween toe vaccine, which is licensed 
by the Food and Drag Administration, 
and illnesses among toe Golf War 
veterans. 


line it is trying to instilL 


Sides Rest in Oklahoma Bomb Trial 


By Tom Kenworthy 
and Lois Romano 

Washington Post Service 

DENVER — An “av alan che of 
evidence*' conclusively implicates 
Terry Nichols in the Oklahoma City 
bombing, a federal prosecutor told 
jurors here daring toe government’s 
three-and-a-half-hour closing argu- 
ment in toe terrorism case. 

“There is only one question in 
this case.” the prosecutor, Beth 
Wilkinson, told toe seven-woman, 
five-man jury Monday as the gov- 
ernment summed up its six weeks of 
evidence. 

“Did Terry Nichols intentionally 
help Timothy McVeigh bomb toe 
Alfred P. Mnriab Federal Building 
and kill toe people inside of it?” 

“We submit to you toe answer is 
obvious, the answer is yes.” Ms. 


Wilkinson said. She added, “They 
were together from be ginnin g to 
end.” 

Ms. W ilkins on walked toe jury 
through the government's complex, 
circumstantial case, using as a prop 
an eight-foot-wide color chan 
labeled “The Road to Destruction” 
that featured bookeud photos of the 
Murrah building before and after the 
explosion A prill 9, 1995. . 

But Ms. Wilkinson also aggress- 
ively attacked the defense's efforts to 
confuse jurors with the specter of 
additional accomplices, conflicting 
sigh tings of a Ryder truck at Geary 
State Fishing 1-akft in Kansas, where 
the bomb was allegedly built, and 
numerous sightin gs of a onetime sus- 
pect — John Doe No. 2 — who toe 
government now says never existed. 

At the defense's turn, Mr. Nich- 
ols’s attorneys, Michael Tigar and 


Ron Woods, took umbrage at what 
they called Ms. Wilkinson's “per- 
sonal p!tflcks on us.” 

In Ms closing argument, Mr. Tigar 
assailed the character of the govern- 
ment’s star witness, Michael Fortier, 
and accused federal authorities of 
conducting a slipshod investigation. 

Mr. Tigar said of Mr. Fortier, an 
admitted drug user, “Well, he cleans 
up pretty good” 

Mr. Fortier, a friend of Mr. Mc- 
Veigh's, pleaded guilty to lesser 
charges in exchange for Ms testimony 
that implicated Mr. McVeigh and 
Mr. Nichols and that. Mr. Tigar as- 
serted, “was bought and paid for.” 

Mr. McVeigh was convicted on 
identical murder and conspiracy 
charges in June, and was sentenced 
to death for his role in the explosion, 
which killed 168 people and injured 
more than 500 others. 


Reno Won’t Investigate 
Clinton in Casino 


ase 


WASHINGTON — Attorney General 
Janet Reno has refused to include President 
Bill Clinton in her investigation into wheth- 
er to seek an independent prosecutor to 
examine how Interior Department officials 
decided to deny a permit for an Indian 
casino project in Wisconsin. 

Ms. Reno's decision was delivered in a 
letter to Representative Henry Hyde, Re- 
publican of Illinois, the chairman of the 
House Judiciary Committee, who, along 
with other Republicans on toe panel, had 
asked her to seek the appointment of an 
outside prosecutor to investigate Mr. Clin- 
ton's role in the casino matter. 

Ms. Reno said in her letter that lobbyists 
hired by a tribal group that opposed the 
casino had mentioned the project to Mr. 
Clinton at political and social events. She 
said that Mr. Clinton then asked his staff 
about the status of the project and that some 
presidential aides monitored toe issue and 
made inquiries at toe Interior Department. 

Ms. Reno wrote, “Information that the 
President was aware of a regulatory matter 
under review by an executive branch agency 
does not, however, in and of itself, indicate 
criminal wrongdoing by the president.” 

The casino project was rejected in 1995 


by Interior officials in Washington after the 
rival tribes hired a well-known Democratic 
lobbyist. Patrick O’Connor. ( NYT) 

On Scientific Testimony 

WASHINGTON — The Supreme Court 
has ruled unanimously that trial judges 
have great discretion to decide what type of 
scientific testimony can be presented to 
juries, a decision that could have a sig- 
nificant impact in product-liabitiiy cases 
around the country. 

Testimony of scientific experts has 
formed the basis of complaints against 
manufacturers in breast impiani, toxic 
waste and other liability lawsuits. But 
judges increasingly worry that ponies can 
find an “expert” to testily to anything and 
that flawed or distorted research can mis- 
lead jurors. (WP) 

Quote / Unquote 

Onin Hatch, Republican of Utah, toe 
Senate Judiciary chairman, after President 
Clinton bypassed Congress and appointed 
Bill Lann Lee acting assistant attorney gen- 
eral for civil rights: “There is no question 
that Mr. Lee will be among the most con- 
gressionaiiy scrutinized bureaucrats in his- 
tory." (AP) 



Dong MiBi/Hie Anuaol Bw 

Janet Reno speaking about the appointment of Bill Lann Lee. right, as acting 
head of the Justice Department's civil rights division, as Mr. Clinton looked on. 


Stubby Kaye, Actor, Singer 
And Comedian, Dies at 79 


Away From politics Unicef Warns of ‘Silent Crisis’ 

Malnutrition Is Factor in 55% of Children’s Deaths Worldwide 


NEW YORK (NYT) — Stubby 
Kaye, 79, toe cherubic comedian and 
singer who. was Nicely-Nicely Johnson 
in the original “Guys and Dolls” and 
who joined Nat King Cole in the movie 
banjo chorus crooning toe ballad of Cat 
Ballou, died Sunday in Rancho Mirage. 
California, where he lived. 

Though Mr. Kaye had a long career 
that spanned vaudeville, television. 
Broadway sod films, he was best known 
as toe fust man to belt out “Sit Down, 
You’re Rockin' the Boat,” a show-stop- 
per from “Guys and Dolls” that was 
always associated with him. He made his 
legitimate stage debut in Frank Loesser's 
1950 musical, based on Damon Run- 
yon's tales of gamblers and chorus girls. 

In 1956, Mr. Kaye played the role of 
Manyin’ Sam in toe Broadway musical 
“L’il Abner,” for wMch be received an 
Outer Circle award, and was a regular 
performer in early television, appearing 
with Dinah Shore. Perry Cc*no, Art 
Camey, Marge and Gower Champion 
and others. 


Eddie Chapman, 83, British Spy 

LONDON (AP) — Eddie Chapman, 
83, a safecracker who became a valued 
British double agent in World War II 
and toe only Briton to be awarded Ger- 
many’s Iron Cross medal, has died. 

The Nazis twice smuggled Mr. Chap- 
man into Britain during the war to sab- 
otage factories and collect details of 
bomb attacks on London. 

Instead, he fed false details to toe 
Germans about toe success of their V-l 
buzz bombs, and through his disinform- 
ation some V-2 rockets were aimed 
wide of tocir targets. 

Kim Hak Soon, 74, the first South 
Korean woman to identify herself as a 
former sex slave of Japanese soldiers 
during World War XL died Tuesday. In 
1991. Miss Kim told in gruesome detail 
how she was abducted and forced to 
cany ammunition for Japanese soldiers 
by day and serve as a prostitute by night. 
She was 17 at toe time. 


• A medical researcher who claimed 
he found a fried rat’s tail in a Mc- 
. Donald’sJJappy Meal was convicted of 
■trying to extort $5 million from the 
restaurant chain. A federal jury found 
Michael Zanakis of Harding. New Jer- 
sey, guilty of three counts of mail fraud, 
six counts of wire fraud and two counts 
of extortion. (AP) 


that John Hinckley Jr., toe man who shot 
President Ronald Reagan, be allowed to 
leave a mental hospital for a six-hour 
holiday visit with h is parents. Judge 
June Green said she was not convinced 
that Mr. Hinckley would not be a danger 
to himself or others during a visit. (AP) 

• A lion was on the loose in 'a toarist 
area after escaping from a roadside zoo 
while her handlers tried to repair her 
cage. The African lion, named Nala, 
was last seen fleeing into a cypress 
swamp near Kissimmee, Florida. (AP) 

• A 7-year-old Detroit girl was killed 
and two other people were wounded in a 
drive-by shooting that grayed bullets 
through a living-room window. (AP) 


Los Angeles Tunes 

UNITED NATIONS, New York — 
Despite a global decline in poverty in 
recent years, malnutrition plagues mil- 
lions of the world’s children and is 
partly responsible for more than half of 
all child deaths each year, the UN Chil- 
dren ’s Fund said in a report issued Tues- 
day in Paris. 

Malnutrition is a factor in 55 percent 
of the estimated 12 million preventable 
deaths each year of children younger 
than 5, Unicef said in its annual report 
on toe state of toe world’s children. 

To find a disease that killed children 
on a comparable scale, researchers had 
to reach back to toe Middle Ages and the 
bubonic plague, known as toe Black 
Death. 

“It is an existing silent emergency or 
silent crisis that literally Mis enormous 
implications worldwide,'* said Carol 
Bellamy, Unicef executive director.. 

• ‘This is not a one-time or special prob- 
lem,” she said. “Virtually half of the 
children in South Asia and a third of toe 
children in sub-Saharan Africa are mal- 
nourished.” 


Besides child mortality, undernour- 
ishment is a factor in children bora with 
low IQs and mental retardation and in 
toe death of mothers in childbirth, toe 
report said. 

The deaths, disability and lost pro- 
ductivity because of malnutrition ripple 
through the economies of countries 
where hunger is most acute and can 
reduce toe gross national product by as 
much as 5 percent, researchers esti- 
mated, a figure that in Bangladesh and 
India alone would total $18 billion. 

Economic expansion in recent years, 
particularly in developing countries in 
East Asia, has reduced malnutrition in 
some regions. 

The report cites the experience of 
Thailand, where the number of under- 
weight children age 5 and younger 
dropped from 51 percent in 1982 to 19 
percent in 1990. 

The report also points to the wide- 
spread production and use of iodized 
salt in reducing mental impairment 
caused by iodine deficiency and sug- 
gests there are other inexpensive steps 
that can be taken to fight malnutrition. 


Doctor at WHO 
Warns of Fhi Bug 

The Associated Press 

WASHINGTON — A new 
strain of influenza that comes 
from chickens may mutate in- 
to a bug that can be spread 
from person to person, a 
change that could lead to a 
worldwide epidemic, an ex- 
pert has said. 

Robert Webster, a member 
Of the World Health Orga- 
nization's influenza team, 
said that “there is no evi- 
dence yet of human- lo-hu- 
man transmission, but the 
very nature of this virus” 
means it could acquire that 
characteristic. He added, "It 
is only a matter of time.” 

Other experts did not 
agree. 

Dr. Webster, a virus expert 
at the SL Jude Children’s Re- 
search Hospital in Memphis, 
Tennessee, said that six 
people in Hong Kong had 
been confirmed as infected 
with the new flu strain, called 
H5NI. All are thought to have 
contracted the disease from 
live chickens. Two patients 
died, but one death was linked 
to complications of treatment 
and notto the disease itself. 


ENJOY OR AVOID 


■ 




ground: The primary role of the United Nations 
Development Office for Somalia (UNDOS) is to establish a plan- 
ning framework and processes to guide and support the reestab- 
lishment of governmental structures, rehabilitation and develop- 
ment actions in Somalia UNDOS core functions are information 
and data collection and analysis, documentation, advisory ana 
training support to capacity building of administrative structures 
and economic and social development planning. UNDOS acts as 
tire secretariat to the Somalia Aid Coordination Body ISACB) a>nv 
posed of country donors. UN agendes and International NCOS. 
UNDOS is expected to provide, as required, support and assis- 
tance to UN Agendes. bilateral organisations. International NGOs 
as well as to projects and programmes for project design, moni- 
toring and evaluation, and training. 

Responsibilities: The DiteaodProgramme Manager Mil have the 
overall responsibility to manage a multi-dfedpllnary team ol profes- 
sional staff and to Implement die yearly workplan- In order® ensure 
promotion of UNDOS services and adequate programme funding 
levels he/she will wo* closely with appropriate Somali institutions, 
UN agencies and other SACB partners. The DiieaodPrommme 
Manager will be required to travel to Somalia. An Advisory 

S52MS3 SiSSpS. 

its orientation in view of the current situation In Somalia. 

n^Hficatioiis: The Incumbent must have an advanced degree in 
relevant disciplines (Economics. Development Studies. SodaJ 
Sciences, Public Administration) with a minimum of 10 years ot 
senior Jevd planning and management expenence in an interna- 
tional setting! Working experience in developing countries tS 
essential and in pori-conflict societies an asset. Somali expen- 
is desrableand an advantage, in addition to excellent 
organisational and presentation skills, hefcfre must htrre exeh 
tent management skills and the capacity to supewe high-level 
professions staff Experience 

reconstitution programmes is an advantageJMust be fomlltar 
funding procedures of major donors and the operations of UN 
system Fluency In spoken and written English is required. 

The headquarters of the Office is currently In Nairobi The dura- 
tion ofthe post is one yen with the expectation of extension. 

Interested individuals should address a detailed CV, including 
references, to: 

UNOPS 
P.O. Box 28832 
Nairobi, Kenya 
Fax: (254-2) 447943 
■ e-mail: SRRP9FORIA-NET.COM * 

Applications must be received not later than 15 January 1998 
Interviews will be held around mid February I99S. • 



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PAGE 4 


ASIA/PACIFIC 


ows 


China Will Be 
Good Neighbor 
To ASEAN 


CtMp&d tu Om SufFnm Dapc*dta 

■ KUALA LUMPUR — China prom- 
ised Tuesday to be a “good neighbor” 
to Southeast Asia and disavowed die use 
of force in regional disputes. 

■ ‘'China will never seek hegemony. 
China will always be a staunch force in 
maintaining regional and global peace 
and stability,” President Jiang Zemin 
said at a meeting of the Association of 
Southeast Asian Nations. 

The nine ASEAN members held suc- 
cessive meetings with Mr. Jiang, Prime 
Minister Ryu taro Hashimoto of Japan 
and Prime Minister Koh Kun of South 
Korea one day alter all 12 countries took 
part in an East Asian conference against 
the backdrop of regional financial tur- 
moil. 

“China will forever be a good neigh- 
bor, a good partner and a good friend with 
ASEAN countries,” Mr. Jiang said in a 
speech to leaders of Brunei, Burma, In- 
donesia, Laos, Malaysia, the Philippines, 
Singapore, Thailand and Vietnam. 

The speech, stressing themes of mu- 
tual trust and common ground, ad- 
dressed suspicions about China’s am- 
bitions after confrontations with 
ASEAN members over the Spratly Is- 
lands in the South China Sea. 

“There is no tension in the South 
China Sea.” China's foreign minister. 
Qian Qichen, said at a news conference 
after the meeting, describing die dis- 
putes as a “historic legacy.” 

China's relations with Southeast Asia 
often have been marked by bitterness. 
Beijing claims sovereignty over the 
Spratly Islands in the South China Sea, 
an issue that has soured its relations with 
its southern neighbors. The group of 
isles and reefs, potentially rich in oil, is 
also claimed in whole or in part by 
Vietnam. Brunei, Malaysia, the Phil- 
ippines and Taiwan. 

While no agreement was reached on 
holding regular pan-Asian conferences, 
Mr. Qian said another meeting could be 
held next year if necessary. 

A joint statement by China and the 
ASEAN members said they would re- 
solve any disputes through peaceful 
means, without reseating to the threat or 
use of force. ASEAN and China also 
backed the development of the Mekong 
River basin, which would benefit Laos, 
Cambodian and Vietnam. 

Mr. Jiang said that as the world's 
largest developing country, China needs 
“a long-torn peaceful international en- 
vironment and a good neighborly en- 
vironment in particular” to modernize. 

Even a developed China would ad- 
here to peaceful coexistence, amity and 
mutual respect, Mr. Jiang said, adding 
that he predicted that his country would 
be “strong, prosperous, democratic and 
culturally advanced” by the mid-21st 
century. (AFP, Reuters) 


Typhoon Damages Guam 

AGANA, Guam — A typhoon with winds of up to 175 
miles an hour (280 kilometers an hour), rolled across north- 
ern Guam on Tuesday, causing injuries and major damage, 
emergency workers said. No deaths were reported. 

The island was without electricity, knocking out weather 
recording instruments, although phones were still in ser- 
vice. Twenty injuries, mostly from collapsing homes, were 
reported, but none were apparently life-threatening, civil 
defense officials said. 

Hundreds of people left their homes for emergency 
shelters in schools, and some people who stayed at home 
had to be pulled from die wreckage after their houses fell on 
them. Guests at one resort hotel were evacaated after part of . 
its roof blew away, the radio reported. (AP) 

India Leader Holds China Talks 

NEW DELHI — Prime Minister Jfader Kumar GujraJ and 
a senior Chinese official held talks Tuesday on subjects 
ranging from Beijing's suspected arms sales to Pakistan to 
disputes over the long Chma-India border. 

An Indian Foreign Ministry spokesman said Mr. Gujral 
had told Wei Jianxing, a senior member of the Chinese 
Communist Party’s Politburo, of India’s concern. over 
reports that Beijing has supplied New Delhi’s arch-foe, 
Pakistan, with M-l 1 ballistic missiles. Pakistan and China 
have denied reports of missile transfers. 

But the Indian leader stressed that this was only a 
reiteration of New Delhi’s position on the issue and was 
“part of an overview of global affairs” during the boar- 
long meeting. 

“We have often reiterated our position on the sale of 
weapons,” the spokesman said. “The Chinese side is 
briefed on this at the highest level.” (Reuters) 



ASIA: Desire for, Democracy Gathers Pace 


PAKISTAN PROTEST — ■ People with handicaps 
rallied in Karachi on Tuesday to demand an end to 
discrimination and the creation of training centers. 

Tuesday, although resistance forces claimed to have in- 
tercepted army messages reporting 48 government 
deaths. (AP) 


Cambodian Fighting Rages Australia to Pay Aborigines 


PHNOM PENH — Hun Sen’s farces pressed their of- 
fensive against Cambodian reastance forces Tuesday wife 
artillery at the opposition’s stronghold on the Thai border. 

The two-day-old battle — the fiercest in months — 
marked the resumption of hostilities between forces of Mr. 
Hun Sen, the second prime minister, and those of the man 
he removed as first prime minister. Prince Norodom Ranar- 
iddh. General Khan Savoeun, fee No. 2 commander of fee 
Ranariddh loyalists, said Mr. Hun Sen’s forces had fired 
more than 300 shells and 500 rocket-propelled grenades 
since Monday. There was no definite word on casualties 


CANBERRA — The Australian government on Tuesday 
announced aid of 63 million Australian dollars ($40 mil- 
lion) to the families of ffaiiuanrig of aborigines tafcp.n as 
children from their parents, bnt reiterated that there would 
be no official apology. 

Giving the government response to a Human Rights 
Commission, Aboriginal Affairs Minister John Herron de- 
scribed the policy of forced assimilation as a tragic period for 
aboriginal Australians. But be said fee liberal -National 
coalition government should not be asked to apologize for 
fee policy, in place between fee 1880s and fee 1960s. (AP) 


UN Discovers Mass Graves in Afghanistan 


Reuters 

GENEVA— AUN investigator who 
inspected mass graves in Afghanistan has 
discovered feat hundreds of Taleban cap- 
tives were thrown down wells and then 
killed wife hand grenades, the United 
Nations rights spokesman said Tuesday. 

Choong Hyun Paik. a South Korean 
law professor who is fee UN special 
adviser on Afghanistan, also visited two 
villages near Mazar-i-Sharif in fee north 
where 83 civilians of the opposition 
Hazara Shiite tribe were massacred by 
Taleban forces in September, the 
spokesman added. 

“To date, there is no UN figure for 
fee numbers ofdeafes,” the UN spokes- 
man, John Mills, said in Geneva, adding 
that the date of the killings had not yet 
been established. 


Mark Skinner, a forensic expert wife 
Physicians for Human Rights who ac- 
companied Mr. Paik, estimated feat 
each of fee nine wells could contain up 
to 100 bodies, Mr. Mills said. 

Local officials in the northern town of 
Shibargan said mass graves in fee desert 
contained the bodies of Taleban fighters 
captured in May after bitter fighting in 
Mazar-i-Sharif, the capital of the op- 
position forces. 

The killings apparently took place 
when Shibargan was under the control . 
of General Abdul Malik, a renegade 
opposition commander who briefly al- 
lied himself wife the Taleban in May. 

With the help of fee Taleban, General 
Malijc took Mazar-i-Sharif and forced 
its warlord. General Abdul Rashid 
Dustam, into exile. General Malik con- 


trolled fee north for almost five months 
before General Dustam returned from 
Turkey and drove him out 
General Dustam told fee UN team 
that more than 2,000 people had been 
killed, Mr. Mills said. General Dustam 
blamed General Malik’s forces. 

“Those killed appear to have been 
Taleban soldiers captured during an 
earlier advance in May this year and 
also members of local militias or polit- 
ical groups,” Mr. Mills said. 

The UN investigator also visited five 
or six shallow gravesites near Shibar- 
gan. the UN rights spokesman said. 

"At one place, there was evidence 
that tire prisoners were lined up and 
mowed down wife heavy-caliber ma- 
chine guns,” he said, adding that -the 
UN envoy had found shell cases there. 


Continued from Page l 
strongmen, or all-powerful ru ling 


patronage ana a measured amount of 
repression. Yet recent events are con- 
verging to challenge some of fee old 
certainties, upending some long-held 
political orthodoxies. 

Just as fee region wide economic 
slowdown has called into Question- fee 
Asian “miracle,” so too nave recent 
democratic stirrings tested the much- 
repeated axiom that Asians, by and 
large, care little about democracy and 
favor authoritarian government. 

A few regional letters- — Prime Min- 
ister Mahathir bin Mohamad in Malay- 
sia, Senior Minister Lee Kuan Yew in 
Singapore, Chief Executive Tong Chee- 
hwa in Hong Kong and China’s Com- 
munist leaders — still advocate the idea 
of “Asian values,” a system feat prizes 
stability and consensus while eschew- 
ing Westcra-style democracy wife its 
emphasis on political conflict 

But a more complex reality is emerg- 
ing, wife more and more Asians now 
choosing their new leaders, throwing 
out old ones, farming labor unions and 
advocacy groups outside of government 
control and publicly clamoring fra 1 more 
democratic rights. 

just as democracy swept through Lat- 
in America and the fanner Communist- 
run states ofEastexn Europe at the end of 
fee Cold War, East Asia, too, is in the 
midst of what many here arc calling a 
slow bnt steady move toward more plur- 
alism and openness. 

“Hie trend is towards greater demo- 
cratization,” said Dewi Framna Anwar, 
a political scientist wife the Indonesian 
Institute of Sciences in Jakarta. “There is 
increasing societal pressure in every 
country. This relaxes to the fact that 
people are getting more education. It’s 
the riseof the middle class. And it’s also 
a result In fee increased globalization of 
communication, and travel. The wave of 
denxxxatization since the end of fee Cold 
War seems to be catching everybody.” 

“Democracy is on the inarch in East 
Asia,” said Douglas Paal, president of 
the Asia Pacific Policy Center in Wash- 
ington. 

One sign of the trend can be seen in 
the heavy electoral calendar of the next 
12 months. South Koreans go to fee 
polls Thursday for their third free pres- 
idential election since 1987. After vot- 
ing in local elections in November, 
Taiwanese — who emerged from mar- 
tial law only in 1986 — will vote next 
year far a new national Parliament 
< Filipinos will elect a new president in 
May, further consolidating the democ- 
racy restored by fee 1986 “people 
power” revolt feat tossed out Fexoinand 
Marcos. Thailand is likely to hold its 
first elections under a new reformist 
constitution. 

Hong Kong will elect its first leg- 
islature under Chinese role, which, de- 
spite complaints about fee fairness of 
the rules and the size of fee voting 
franchise, will make fee territory the 
most democratic part of China. 

“It’s nonsense,” President Lee 
Teng-hui of Taiwan said in an inter- 
view, commenting on the “Asian val- 


ues” concept and speaking as a leader 
elected democratically by Chinese. 

“Asian people are human beings,” 
he said. “Democracy is something 
everybody would like to have.Every- 
body would like more freedom.” 

Scholars, journalists, diplomats and 
others point to several trends feat they 
say shows democracy is becoming more 
entrenched, among them: 

• The riffling role of fee armed 
forces in East Asia. This trend has been 
most r em arkable in South Korea, but 
also in Thailand, Taiwan and fee Phil- 
ippines — countries where fee armed 
forces once exercised broad control but 
'where the chance of direct military in- 
tervention in politics, meaning a coup, 
now seems remote. 

• The growth of nongovernmental or- 
ganizations. Indonesia is believed to 
have 9,000 to 10,000 advocacy orga- 
nizations, ranging from women’s 
groups and religious groups to human 
rights forums, legal aid societies and 
labor unions, which are not officially 
recognized. The trend is similar, if less 
pronounced, across much of East and 
Southeast Aria. 

• The rise of information technology 
and the aggressiveness of the media. 
Some governments still try to control 
local media by varying degrees, but the 
Internet, satellite television, and region- 
al publications that circulate freely 
across borders give Asians greater ac- 
cess to uncensored information about 
global democratic trends. 

Many regional analysts and academ- 
ics agn wl that Asia’s economic down- 
turn — which has forced several coun- 
tries to seek bailouts from the 
International Monetary Fund — may in 
the short term pose a challenge to fee 
democratization trend. The pain of high- 
er unemployment, high interest rates 
and slower growth, all part of the IMF’s 
prescription for ailing economies, may 
produce a populist electoral backlash 
against democratic governments and a 
hankeri ng for the older-style authorit- 
arian leader who provided fee ‘‘iron rice 
bowl” of prosperity for fee previous 
generation. 

But for the long term, the changes in 
the economic systems forced by the IMF 
remedies are likely to accelerate the move 
to pluralism in politics, analysts said. 

There are, of course, a few exceptions 
and holdouts to the democratizing trend. 
Burma is still run by a military junta that 
refuses to recognize the National 
League for Democracy as the party that 
won national elections in 1990. 

Vietnam also seems to be lagging 
behind fee region's democratization 
trend. But analysts like Mr. Paal and 
diplomats in Hanoi said even in feat 
country there was a measurable amount 
of pent-up frustration among younger 
Vietnamese who are looking for a way 
to change to a more open system. 

Cambodia was thought to have 
ushered in a new democratic government 
after UN-brokered elections. But in early 
July, after more than a year of slowly 
encroaching on' Cambodia's newfound 
freedoms, Hun Sen staged a coup, ousted 
his coalition partner. Prince Norodom 
Ranariddh, fee first prime minister, and 
seized control of the country. 


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THE INTERMARKET 
Continues 
on Pag* 11 


probably that 
has been 


He added, “Whatever 
change or progress might 
have been made will have to 
wait until fee South Korean 
crisis is over.” 

The government here 
needs all Its resources to 

■ avoid bankruptcy and South 
Korea’s big conglomerates, 
known as chaebols, are busy 

. cutting costs and investments 
, to avert collapse instead of 
looking to expand to the 

■ north. 

A senior American diplo- 
matic official in Seoul said 
feat the four-party talks on 
peace for the peninsula, 
1 which was divided by war in 
the early 1950s, would or- 
dinarily be front-page news. 
But the Geneva meeting last 
week -involving China, the 
United States, North and 
South Korea was overshad- 
owed by the free fall in fee 
financial markets. 

Korea will also have to trim 
its military procurement pro- 
gram, imperiling its ambi- 
, tions plans tb acquire new 
weapons systems capable of 
projecting power out to 1 ,000 
nautical miles, said a former 
American diplomat who 
travels frequently to the re- 
gion. 

The collapse of fee Korean 
currency, fee won, will slash 
about SI billion, or one fifth, 
off fee military procurement 
budget, a development that 
will be welcomed in Japan 
and China, analysts here said. 
Budget cuis might trim 
spending further. 

The financial squeeze in 
Asia has also thrown into 
doubt the contributions pmm- 
tsed by both South Koreaand 
Japan to the Korean Energy 
Development Organization 
which was created as pan of 

wife North 
Korea Wpay for changing the 
ninth s nuclear reactors to 
s^rligm water rSrore 


Ambitions are being scaled 
back elsewhere in Asia, too. 
In China six months ago, poli- 
cymakers were talking about 
poshing to join the (Soup of 
Seven major industrial na- 
tions. 

But today , China is playing 
little role at all in solving 
Asia's problems. Though 
Beijing took an unprecedent- 
ed step toward a regional role 
by contributing $1 billion to 
the Thailand bailout fund and 
said Monday that it would 
contribute an unspecified 
amount to an Indonesian 
fund, China has otherwise sat 
on its own gigantic cache of 
foreign exchange reserves in 
case it one day faces an as- 
sault on its own ecoaomy. 

“China has been doing 
what it feels necessary for its 
own self,” said Mr. Han, the 
former foreign minister. “It 
has not bothered to play a 
role, and that is not surprising 
to anyone.” 

Fast animosities are also 
once again laid bare. Japan, 
which holds a big share of 
South Korea’s debt, is tread- 
iag gingerly here because of 
preoccupation with its own 
problems and also for fear of ■ 
re igniting talk about its co-_ 
loniai-era occupation of the 
Korean 1 Peninsula. 

“Japan is being veiy care- 
ftH” ^ Mr. Han said. “It 
doesn’t want to be seen going 
out of line wife the Interna- 
tional Monetary Fund. At the 
same tune it wants to avoid 
fee appearance of fishing in 
troubled waters.” 

As a result, it has foiled to' ; 
meet the expectations of_ 


• _ ” “MV UUll l|1 

charged with neocolon 
by South Koreans wb 
^ 411 international conspi 
acy to bring down their com 
try. 

Mr Kim. the Korean an 
bassador-at-large, says t 

fears that fee Failure of Asia 
nations to work togeth< 
could have disastrous era 
sequences for fee entire rt 
gion. He has warned thi 
Asian governments have ei 
gaged m “competitive d< 
valuations" as countries tt 
Jo regain their export edge b 
widercutting other Asia 
cheaper currenck 
and feu* cheaper labor costa 

lavuTtf? reproducing tii 
1930s, ’ Mr. Kun said. ' 











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INTERNATIONAL HE RALD TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 

EUROPE 


PAGE 5 


Eastern German Internet 
Surges in Neo-Nazi Hits 


By Alan Cowell 

New fort Tima Service 

BONN — At a time of growing signs 
of neo-Nazism in the German aimed 
forces, a government agency has reg- 
istered new apprehension about surging 
racism in the former East Germany. 

A report says that rightist extremists 
are using the Internet to boast of “for- 
eigner free” zones, threatening to keep 
foreign-bom residents out of certain dis- 
cos and cafes. 

For several years, rightists have used 
the Internet and computer bulletin 
boards to gain access to white suprem- 
acist Web sites in the United States and 
elsewhere and to send encrypted mes- 
sages between extremists in Germany. 

But the annual report published last 

Extr emism in Army 
Is Assailed in Bonn 

Reuters 

BONN — German opposition parties 
said Tuesday that they were alarmed by 
a surge in rightist extremism in the array 
and called on Defense Minis ter Volker. 
R uehe to purge any neo-Nazis. 

Walter Kolbow, defense spokesman 
for the Social Democratic raty, said 
that Mr. Ruehe had clung too long to the 
mistaken belief that a number of recent 
cases were “isolated incidents." 

“There have been far too many cases 
to refer to these as isolated incidents any 
more," Mr. Kolbow said at a news 
conference where he was supported by 
the Greens. 

“It has become a series," he said, 
“and a parliamentary inquiry will have 
to see whether there is a breeding ground 
for right-wing radicals in the array.” 


week by the government office tbatad- 
dresses issues relating to foreign res- 
idents was the first official allusion to 
the use of the Internet to stir up ethnic 
violence in the east Racism there is 
widely ascribed to discontent over mass 
unemployment rather than the actual 
presence of a growing foreign popu- 
lation. 

Germany has Europe’s highest pro- 
portion of foreign-bom residents — al- 
most 9 percent of its population of 82 
million. Bat most of them live in pros- 
perous western cities. Unemployment 
in the east is even higher than the na- 
tional average of around 1 1 percent 

The biggest group of foreign-born 
residents in Germany is some 2 milli on 
Talks. In recent years, however, there 
has been a huge influx of Balkan war 
refugees and asylum-seekers and 
clandestine immigrants from Eastern 
Europe and Africa. 

Cornelia Schmalz- Jacobsen , die di- 
rector of the office that issued the report, 
said that, in some areas of the east, 
“foreign residents and visitors are ad- 
vised not to leave their homes alone 
after dark." 

Rightist extremists in at least 25 
towns in the east, she said, had posted 
Internet proclamations of “foreigner 
free" zones to be enforced by the ex- 
tremists. 

Typically, be said, an Internet an- 
nouncement would say that “such and 
such a club has now been liberated." 

But,' Ms. Schmalz- J acobsen said, 
“these are not liberated zones, but oc- 
cupied zones." 

Rightist extremism is generally at- 
tributed to an estimated 6,500 hard-core 
activists along with some 35,000 people 
classified by the Federal Office for the 
Protection of the- Constitution as Nazi 
sympathizers. 



\ruk MtxrJTrr B^bh > n 

Mr. Volcker of the Holocaust claims panel, Tuesday in Zurich. He said progress w as slow. 

4,500 Holocaust Claims Verified 


The Associated Press 

ZURICH — Two- thirds of the people who have 
fried claims for dormant Holocaust-era accounts at 
Swiss banks have been confirmed as apparently 
having rights to the money, an international panel 
said Tuesday. 

But the chairman of the independent committee 
supervising the return of the assets of Nazi victims 
said the process was going slower than he would 
like. “I am as impatient and frustrated as other 

n le, but this is the nature of die problem," said 
Volcker, the former chairman of the U.S. 
Federal Reserve, who beads the panel. 

A total of 6,600 claims have been fried. Mr. 
Volcker said. Of those, 4,500 have been confirmed 
as authentic. Some of the evidence has included 
handwritten documents on the opening of the ac- 
counts. 

So far, money has been paid out from only five 
accounts, Mr. Volcker said. He declined to go into 
details about successful claims or how much 


money had been paid oul Other payments remain 
in the claims process, which includes a deter- 
mination by specialists on a fair amount of interest 
to add to the accounts that'have lain dormant since 
1945. 

A decision on the interest payment is expected 
by next month, he said. 

Mr. Volcker said he did not know how many of 
the accounts belonged to people killed by the Nazis, 
but that many of the names appeared to be Jew- 
ish. 

In a global campaign, Swiss banks have pub- 
lished the names of 16,000 accounts that have been 
identified as possibly belonging to Holocaust vic- 
tims because there has been no word from the 
owners since the end of World War D. 

The banks have said the accounts contain a total 
of 60 million Swiss francs ($42 million). 

Mr. Volcker said that the target date for com- 
pleting the task had been set back six months, until 
the end of 1998. 


BRIEFLY 


Havel to Name Central Banker 
As New Czech Prime Minister 

PRAGUE— President Vaclav Havel said Tuesday that 
the governor of the central bank, Josef Tosovsky, would 
be appointed Wednesday as the Czech Republic’s prime 
minister. 

Mr. Havel said the administration that Mr. Tosovsky 
would head would seek a vote of confidence in Parliament 
in January for what would be a time-limited mandate. An 
official ceremony will be held Wednesday at Prague 
Castle. 

Prime Minister Vaclav Klaus and his three-party co- 
alition cabinet resigned Nov. 30 over a party funding 
scandal. Many political analysts said they expected the 
new administration to have a caretaker role before early 
elections. 

Mr. Tosovsky was one of four people originally pro- 
posed by Josef Lux, leader of the Christian Democrats, to 
succeed Mr. Klaus. Mr. Havel asked Mr. Lux last week to 
try put together a new government. / Reuters ) 

Jospin Backs Bosnia Tribunal 

PARIS — Prime Minister Lionel Jospin said Tuesday 
that France was determined that no Bosnian war criminal 
would escape justice and that “no crime will go un- 
punished." 

Answering questions in the National Assembly, Mr. 
Jospin said. “France is determined to act in this direction, 
with its allies and the prosecutors of the International 
Criminal Tribunal” in The Hague. 

Bur Mr. Jospin said allegations by the chief UN war 
crimes prosecutor. Louise Arbour, that French peace- 
keepers in Bosnia were not doing enough to bring indicted 
war criminals to justice were “unacceptable" and "scan- 
dalous.” {AFP) 

Don't Take Stroll* Yeltsin Told 

MOSCOW — President Boris Yeltsin was in a stable 
condition in a Moscow clinic, but doctors had advised him 
against taking a stroll in the fresh air given the subfree zing 
temperatures, the Kremlin said Tuesday. 

Tbe health bulletin said the president had recovered 
from a cough, adding that his temperature, blood pressure 
and heart rate were all normal. Mr. Yeltsin, 66. was 
admitted to a clinic near Moscow last week suffering from 
an acute viral respiratory infection. (AFP i 


Irish Leader Seeks Help From Clinton on an Ulster Accord Swedes Get Tainted Blood 


By Adam Clymer 

ftfru- York Tunes Service 

WASHINGTON — Prime Minister Bertie Ahem of Ireland 
said Monday that he hoped President Bill Clinton would help 
push for a final agreement on a peace accord with Northern 

Mr. Ahern said he expected negotiators ‘ "to have the draft of 
a comprehensive agreement' ’ by mid-March, when he returns 
to the United States for St Patrick's Day festivities. But three 
or four issues are likely to remain unresolved, be said, and “it 
will be very difficult far either of the two governments” to 
move anyone. 

“At that point we’re going to need the outside help," he 


said, alluding to Mr. Clinton. He said the president’s support 
would be “crucial" for a final agreement to be reached by 
May, the de adline set by parties in the talks. 

Mr. Ahern said he expected negotiators in Belfast to agree 
Tuesday on which issues to discuss daring an intensive 10 
weeks of talks set to begin just after Christinas. He also said he 
expected the negotiators to agree on a format for those talks. 

He contended that the talks had already accomplished more 
than simply bringing the parties to the table in Belfast 
“An awful lot of issues that people said, ’Never an inch on 
these,’ are off the agenda," he said. 

Progress was made on transferring prisoners, for example, 
and on aid for a Roman Catholic school in Belfast that had 
never before received government assistance. Negotiators 


also managed to sidetrack the issue of whether paramilitary 
groups should be required to surrender their weapons. 

He said much of die credit for putting aside the highly 
contentious arms issue should go to former Senator George 
MitcbeU, chairman of the talks. 

The cease-fire that is a condition for continued progress ‘ ‘at 
this stage is holding far better than previous ones.' ' he added. 
Citing British and Irish intelligence information, be said there 
had been a much lower incidence of planning for future 
attacks, military training and punishment beatings than in the 
early months of previous cease-fires. 

After meeting with Mr. Ahem, Mr. Clinton said. ‘ ‘I'm very 
impressed by what’s been done, and very encouraged.” He 
said he intended to stay “personally involved.” 


STOCKHOLM — From 150 to 400 patients in Sweden 
have been treated with British blood products that could 
be contaminated with Creutzfeldt-Jakob disease, accord- 
ing to the Swedish Pharmaceutical Board. 

Some 149 containers of “contaminated” Amerscam 
Pulmonate. an injectable agent used in lung scans in 
radiology departments, were used on patients in Sweden 
before the Nov. 18 warning from the British maker, 
Nycomed Amersham, it said. 

The plasma in Amerscam Pulmonate was taken from 
British donors, including one man who turned out to be 
infected with Creutzfeldt-Jakob, the human form of 
“mad cow” disease. The product was distributed in up to 
52 countries, Nycomed Amersham said. (AFP) 



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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, WE DNESDAY, DECEMBER 17, 1997 

INTERNATIONAL 


Saddam’s brinkmanship’ 
Draws New U.S. Warning 

UN Weapons Chief Gets a ‘No’ on OpenPalaces 


•.imtf&'Jby OkrSktfFwtaDtipvrka 

WASHINGTON — Saddam Hus- 
sein 's refusal to open his palaces to UN 
weapons inspectors could prompt an- 
other showdown with the Iraqi pres- 
ident, U.S. officials said Tuesday. 

Colling Iraq’s rejection of the pro- 
posal presented by the UN inspection 
chief, Richard Butler, an instance of 
’ 'brinkmanship,” an administration of- 
ficial said President Bill Clinton’s ad- 
visers were reviewing a set of options 
that includes military force. 

Baghdad told the chief UN arms in- 
spector Monday that President Saddam' 
would never open his palaces to in- 
spection. sending the issue that set off a 
crisis last month back to the Security 
Council, where virtually every means of 
persuasion short of military force has 
now been tried. 

The Security Council has said that 
Iraq cannot hope to be free of a crippling 
international embargo, imposed after its 
invasion of Kuwait in 1990, until it has 
satisfactorily accounted for all nuclear, 
chemical and biological weapons and 
materiel, as well as its long-range mis- 
siles and warheads. 

Bur Mr. Saddam appears to believe 
that he can hold out against demands 
that he reveal what is going on in his 
huge presidential compounds. Without 
full access to all suspect sites, Mr. But- 
ler and his special commission cannot 
vouch for Iraqi compliance. 

“What Iraq has done again is thumb 
its nose at the international commu- 
nity.” said Bill Richardson, chief del- 
egate to the United Nations. 

“Our first, option is the diplomatic 
option. We still have onr forces in the 
region,” Mr. Richardson said, adding 
that the next step is to hear from the UN 
weapons inspectors. 

“We think there is enough authority 
in previous Security Council resolu- 
tions if we choose to have military ac- 
tion, we can proceed,” Mr. Richardson 


Congo Delays Repatriation 

Reuters 

KINSHASA, Congo — The Demo- 
cratic Republic of the Congo said Tues- 
day that logistics problems had forced it 
to delay the repatriation of refugees 
from a camp in Rwanda where hundreds 
of Congolese citizens died in armed 
attacks last week. 

Interior Minister Mwenze Kongolo, 
who returned from Rwanda on Tuesday, 
said steps had been taken to prevent 
another attack on the camp, home to 
about 17,000 Congolese Tutsi. 


said in a televised interview. “I don’t 
want to ’.signal that,” he added, but 
“what Iraq has done is serious.” 

Mr. Butler left Iraq for Bahrain on 
Tuesday after Mr. Saddam blocked a 
search for clandestine biological, chem- 
ical and nuclear weapons ingredients. 

Iraq, meanwhile, ridiculed the 
Pentagon's decision to inoculate Amer- 
ican troops against anthrax, saying that 
Iraq did not possess “even one gram” 
of die deadly biological agent 

Besides using force to open the 
palaces to inspection, options under 
consideration include expanding the 
“no-flight” zones over Iraq. Allied 
planes- fly reconnaissance, and Iraqi 
planes are barred. 

In Bahrain, Mr. Butler said he did not 
' expect the standoff to be resolved easily. 

‘ ‘I don’t see a way out of these differing 
views,” he said at a press conference. 

He said he was mid during his four- 
day mission, in which be held talks with 
die Iraqi deputy prime minister. Tariq 
Aziz, that bis team would never be al- 
lowed to inspect the presidential sites. 

“I will faithfully report this to the 
Security Council, and now it’s really up 
to die Security Council to decide wheth- 
er or not that refusal to comply fully 
with the law passed by the* council is 
acceptable or not” 

“I don’t believe.the Security Council 
would change its position, and I was 
given a pretty strong indication that Iraq 
wouldn't change its position,” he ad- 
ded. 

Mr. Butler said his trip to Iraq had 
succeeded in getting access for more 
inspectors and in reducing entry delays 
at certain so-called strategic sites. 

* ‘I think we came here with a serious 
problem bn our hands.” he said. “We 
solved parts of it, not all of it. The 
Security Council will have to address 
the remaining bus.’ * 

Mr. Butler, who is due to address the 
Security Council on Thursday, said he 
saw no reason at this time for the UN to 
withdraw its weapons inspectors again. . 

“It was very interesting that the ques- 
tion of composition of our teams was 
not raised, even though that was 
something Iraq said a lot about during 
the crisis,” he said. 

Last month, a U.S. Navy armada was 
sent to the Gulf after Mr. Saddam re- 
fused to permit American inspectors to 
participate any longer in weapons 
searches. 

The inspectors later returned to Bagh- 
dad, but Washington warned that it 
would not rule out the use of force if Iraq 
defied the UN again. 

(AP. NYT. Reuters) 




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Ric-bard Butler, UN arms inspection chief, leaving Baghdad on Tuesday after several days of talks with the Iraqis. 

Angry Turks Consider an EU Embargo 

Ankara May Block Bids by European Firms After Membership Bebujf 


Ctvfdfd by Oar Smf Fme> Dtsptarbn 

ISTANBUL — Angered by the Euro- 
pean Union’s rejection of its decade-old 
membership application, the Turkish 
government is considering an embargo 
against EU companies bidding for stale 
contracts, newspapers said Tuesday. 

The EU is Turicey's largest trading 
partner, accounting for half of Turkish 
foreign commerce. 

It was not expected that an embargo 
would affect private Turkish compa- 
nies, but it would affect government 
contracts for projects like highways, 
power plants, aims and aircraft 

“Political criteria are always used in 
state tenders,” said HaiuK Tukel, an 
economist with a Turkish business coun- 
ciL ’ ‘The government is simply saying it 
will use such criteria to hurt* the EU.” 

Bulent Ecevit, the deputy prime min- 
ister. was quoted by the daily Sabah as 
saying the embargo was an option. The 
daily Hnrriyet also said the cabinet was 
considering cutting off EU companies 
from state contracts. 

One cabinet member said the em- 
bargo was likely to be unofficial 

* ‘If there's a tender conducted by my 
ministry,” Sabah quoted State Minister 
Rifat Serdaroglu as saying, “I will close 


the doors to European firms. There is no 
official decision on an embargo, but 
these things are never decided officially 
anyway.” 

Sabah said Turkish Airlines had 
already frozen negotiations with the 
Europ ean consortium Airbus on buying 
three new planes worth $330 million. 

A spokesman for the state-owned air- 
line, raik Akin, denied that the talks had 
been halted. But he said commercial 
relations could be adversely affected by 
strained relations with the HU. 

Turkey is angry because the EU this 
weekend excluded it from membership 
talks. Ankara has already rejected an 
invitation to a summit meeting next year 
and accused the Union of being a 
4 ‘Christian club.” The government also 

political issues with the EU, sud^asfee 
divided island of Cyprus. 

The EU cited Turkey’s human rights 
record, the presence of its troops on 
Cyprus and its sour relations with 
Greece as obstacles to membership. 

But EU officials and Turkish busi- 
ness leaders said Tuesday that diplo- 
matic tough talk on both sides could not 
obscure the increasing integration of 
Turkey’s economy with the West, and 


■ with Europe in particular. A customs 
onion with the EU, which took effect in 
1996, remains one of the centerpieces of 
Turkey’s westward ties, they said. The 
other is membership in die North At- 
lantic Treaty Organization. 

“I do not for one minute believe that 
- the government will interfere with the 
customs u n i o n or that rhe private sector 
would support such interference,” Am- 
bassador Michael Lake, head of the 
European Commission representation 
in Turkey, said. 

“Access to the biggest market in die 
world be threatened if the customs un- 
ion were put in legal jeopardy by any 
form of restriction on the free circu- 
lation of goods,” , be said. 

Tmkisbbasiness groups supported con- 
tinuing the customs deal but said its ex- 
pansion depended on Europe’s policies. 

“The Turkish private sector favors 
the deepening of this relationship,” said 
Muhairem Kayhan, chairman of the 
Turkish Industrialists and Business- 
men’s Association. 

“Nevertheless, since Turkey has ful- 
filled most of its responsibilities, now 
the deepening of this relationship has 
become dependent on the EU’s atti- 
tude,” he said. (AP, Reuters) 


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The Associated Press 

MARKING, South Africa — In a 
militant farewell speech as ANC 
leader. President Nelson Mandela 
accused apartheid-era leaders Tues- 
day of waging a clandestine cam- 
paign to destabilize South Africa’s 
all-race government 
“The leopard has not changed its 
spots.” Mr. Mandela said of the 
National Party, which introduced — 
and decades later abolished — 

r heid. The party still represents 
Afrikaner minority of Dutch- 
descended white settlers. 

“These elements find it diffi- 
cult to redefine their role in the 
setting of a nonracial democra- 
cy,” he said. ‘ ‘They continue to be 
imprisoned by notions of white 
supremacy.” 

Mr. Mandela warned his African 
National Congress that some whites 
wanted to maintain vestiges of 
apartheid to protect their privileges 
of the past 

Those “who have not accepted 
the reality of majority rule” were 
helping to instigate South Africa's 
widespread crime, sabotaging the 
economy and using the mass media 
to spread anti-ANC propaganda, he 


The goal, Mr. Mandela said, was 
to make the country ungovernable, 
subvert the economy and erode con- 


fidence in the ANC’s ability to gov- 
ern. 

While his wide-ranging 53-page 
president’s report on die ANC cited 
problems faced by the organization, 
including corruption and po war- 
mongering by ANC officials, it 
mostly criticized others for failing to 
work on behalf of the nation in the 
post-apartheid era. 

The speech took more than four 
hours to read, forcing the 79-year- 
old Mandela to rest several times 
and frequently drink water in the 
stifling hot auditorium. 

Mr. Mandela’s strong words set a 
militant tone for the conference, 
which will see an older generation 
of revolutionary leaders such as Mr. 
Mandela, Walter Sisulu and Govan 
Mbeki step aside for a new order led 
by Mr. Mbdri’s son. Thabo, now the 
deputy president of the ANC and of 
the country. 

Mr. Mandela also accused the 
mass media and some aid and de- 
velopment groups of working 
against his government. 

In the three and a half years the 
ANC has been in power, “the matter 
has become perfectly clear that die 
bulk of the mass media in our coun- 
try has set itself no as a force op- 
posed to the ANC.” Mr. Mandela 
said ' 

Some aid groups, he maintained. 


were in fact acting as the polit- 
ical ears and mouthpieces for 
local and foreign interests act- 
ing agains t his government In 
particular, Mr. Mandela cited a 
U.S. Aid for International De- 
velopment document he said 
stated its goals as challenging 
Mr. Mandela’s government cm 
certain issues,, “in some re- 
spects making President Man- 
dela’s task more difficult.” 

Mr. Mandela also listed the 
ANC government's achieve- 
ments, including a new con- 
stitution, a stable government 
and programs to provide elec- 
tric power, running water and 
housing far millions of poor 
blacks ■ ignored under 
apartheid. 

“Who in this country could 
have done better than the 
ANC?” he asked at one point 
in a booming voice, breaking 
from his prepared text Wi 

“It’s a proud moment,” the 

said a conference delegate, 

Vusi Makhosini, 22, from 
KwaZulu-Natal Province. “As 
Mandela has gotten older, it has 
become the time for a younger 
generation.” 

Mir. Mandela wore a yellow ANC 
T-shirt for his last speech after six 
years as head of the party that led the 



Jab NponlHm 

Winnie Madikizela Mandela' arriving, at 
the opening Tuesday of the conference. 


BRIEFLY 


Another Jordanian 
Executed in Iraq 

AMMAN. Jordan — Iraq has 
executed another Jordanian, the 
government announced Tuesday, 
eight days after Iraq’s execution of 
four Jordanian men damaged re- 
lations between the two neighbors. 

Information Minister Samir Mut- 
tawe aid that the executed man, 
identified as Mohammed Ali Mo- 
hammed Sabbah. had been con- 
victed of murder and was not linked 
to the four men who were executed 
on Dec. 8 on charges of smuggling. 

King Hussein called die execu- 
tions last week a “heinous crime” 
and con d e m ned President Saddam 
Hussein of Iraq. 

In a move to defuse tension, Iraq 
said Monday that it would com- 
mote the . death sentence imposed 
on another Jordanian who was con- 
victed in die smuggling case and 
fear it would release about 140 Jor- 
danian prisoners. ■ i.AP) 

Census Is Delayed 
In East Jerusalem 

RAMALLAH. West Bank — 
The Palestinian Authority has 
delayed efforts to conduct a census 
in Bast Jerusalem but promised that 
it* would be done, a Palestinian of- 
ficial said Tuesday. 

Faisal Husseini, the top Pales- 
tinian official in the city, admitted 
that the move resulted not only 
from interference by Israel but also 
from reluctance by the city’s Arab 
residents to take pan for fear of 
Israeli retribution. 

■ Mr. Husseini did not specify a 
timetable for the census, but it ap- 
peared unlikely that the Jerusalem 
count can be included in the West 
Bank and Gaza results, which are to 
be announced Jan. 4. (AP) 

Guyana Reports 
Big Voter Turnout 

GEORGETOWN. Guyana — 
Guyanese tamed out in record 
numbers for a presidential race that 
pitted the late president’s widow 
against a former president, jthe elec- 
tion commission said Tuesday. 

Residents of die South American 
nation heeded appeals for calm in 
the racially charged vote Monday. 
Results were not available because 
of slow reports, officials said. (AP) 


Mandela Hugs 
His Former Wife 

Reuters 

MAFIKING, South Africa 
— Nelson Mandela hugged 
his former wife, Winnie 
Madikizela-Mandela, after a 
farewell Tuesday to his Af- 
rican National Congress. 

Mrs. Madikizela-Mandela, 
63. joined well-wishers who 
queued to offer a congratu- 
latory hug or kiss after a four- 
hour speech in which he 
urged the party to shun dem- 
agogues in its ranks. 

Mr. Mandela and his 
former wife smiled broadly as 
they embraced briefly but 
warmly. 

The embrace echoed a mo- 
ment earlier on Tuesday 
when Adelaide Tam bo, wid- 
ow of Mr. Mandela's revered 
predecessor, Oliver Tambo, 
accepted a hug from Mrs. 
M adikizela-Mandela. who 
earlier this month was 
quizzed by the Truth Com- 
mission over her alleged role 
in murders and kidnappings. 



anti-apartheid movement and won 
power in the nation’s first all-race 
election in 1994. 

Thabo Mbeki, 55. is expected to 
be theonly candidate to replace him, 
and will automatically be con- 
sidered the new party president 


when the no minatio ns close Tues- 
day night- Mr. Mandela will remain 
president of the country until 1999, 
when the new ANC leaders chosen 
this week are expected to head the 
government after national elections 
that year. 


►"‘CMi- * w y «y*~. 


South Africa Holds 3 Ex-Mobutu Aides 



By Lynne Duke 

Washwgnn Post Service 

JOHANNESBURG — Two generals 
and an admiral 'who served under 
Mobutn Sese Seko in Zaire are under 
investigation for possible involvement 
in a plot u overthrow the new Congolese 
government, according to the Sooth Af- 
rican Foreign Ministry. 

The allegations follow the arrest Sat- 
urday of fee three for entering South 
Africa as illegal aliens, using false pass- 
ports. 

A search of the men's homes here 
reportedly yielded -documents that in- 
dicated involvement in the plot to topple 
President Laurent Kabila’s government 
in Congo, as the former Zaire has been 
known since Mr. Kabila pushed Marshal' 
Mobutu out of power last May after an 
eight-month rebellion. 

A day before Mr. Kabila’s -forces 
seized Kinshasa, the Congolese capital. 
Marshal Mobutu fled into exile in Mo- 
rocco, where be died in August. Some of 
the top figures in the former dictator's 
defeated military fled to South Africa, 
where many of their wives and children 
had already been living. 

Among those exiled were the three 


men now under arrest General Nrimbi 
Etienne, former chief of Marshal 
Mobutu's special presidential division; 
General Baramoto Kpama. farmer chief 
of the former Zairian civil guard, and 
Grand Admiral Mavna Mudima of the 
former Zairian Navy. 

These men, and several others, have 
been the target of a high-level inves- 
tigation begun here after Mr. Kabila’s 
government requested South African 

S in tracking fee whereabouts of Mar- 
Mobutu’s followers — specifically 
how they and their families had come 
into South Africa and what assets they 
might have brought with them. 

“There are a lot of irregularities con- 
cerning the families and their settlement 
here,” said Captain Gerhard Swart of 
the South African Police Service’s Alien 
Investigation unit, which is part of the 
task force that has been investigating the 
matter here. 

Flying out of the Rand airport near 
Johannesburg, General Nzimbi, General 
Baramoto and Admiral Mavua traveled 
to an undisclosed town in Congo late 
Friday for a stay that was supposed to 
have been only a few hours. Captain 
Swart said, but bad weather delayed 
their departure and the men had to return 


to South Africa on Saturday. 

A tipster informed the police here of 
meir arrival and also of the fact that the 
documents under which they traveled 
were not legitimate, Captain Swart 
said. 

The men, who had been allowed to 
settle here on extended holiday visas, 
jiaveled to Congo under expired “state- 
less passports” that had been issued to 
them by South Africa in August for the 
«>le propose of attending the Mobutu 
funeral in Morocco. 

But Friday, the men illegally used 
JS™*®*?* of those documents to 
10 Congo. The immi- 
granon official at the Rand airport who 

raise pasports is also under arrest 








Tuesdav F S ei .S n Ministry said 

luesday that lts officials were “seri- 

a - Qt ** sieged in- 

^citizens of the former 

Dresento^JL p ot , t0 overthrow fee 
present government” of Congo. 









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PAGE 7 















EDITORIALS/OPINION 


Tteralb 


INTERNATIONAL 



Sribunc 


Fl'U.BHKD WITH THE MKW YORK TIM US AND TUB WASHINGTON POST 


America and Iran 

intelligence services, and exercises 
limited authority, over foreign policy. 
Just days before Mr. Khatami s con- 
ciliatory comments about America, 
Ayatolhh Khamenei bitterly de- 
nounced the United States. 

Still, it would be shortsighted to ig- 
nore Mr. Khatami’s offer of improved 
relations. Washington's long effort to 
isolate Iran has reached a phase of 
diminishing returns. The economic 
embargo, justified when imposed, has 
turned out to be largely an empty ges- 
ture, honored by no other country and 
brazenly violated by American compa- 
. While wary or Iran’s fiery Islamic 


Open a Dialogue 

There are two power centers in Iran. 
One is the government, chosen by 
voters and open to improved relations 
with the United States. The other is the 
clerical establishment, self-appointed 
and virulently anti-American. Presi- 
dent Bill Clinton was right on Monday 
to welcome President Mohammed 
Khatami's encouraging call for a dia- 
logue with Washington, but the White 
House should not mistake the overture 
as a sign that Iran's powerful clerics 
have endorsed a more peaceful foreign 
policy. The journey back to normal 
relations with Iran, if it unfolds at all, 
will be slow and circuitous. 

Mr. Khatami, overwhelmiogly 
elected in May by millions of citizens 
weary of Islamic zealotry, has a more 
moderate vision for Iran than Ayatol- 
lah Sayed Ali Khamenei, the country's 
religious leader and supreme ruler. Al- 
though a cleric himself, Mr. Khatami 
has moved tentatively to relax the rigid 
social and legal order established by 
the conservative clergymen who have 
run Iran since the 1979 revolution. He 
has populated the government with 
progressive officials, lightened some 
forms of censorship and promised Ira- 
nians a more tolerant, open society. 

But his power is severely limited. He 
does not control the armed forces and 


A Major Advance? 

The Iranian president's offer of a 
dialogue with the United States turns a 
slight" thaw into the possibility of a 
major advance. But it comes with a big 
if. The Iranians presumably know what 
they want to gam from a dialogue. The 
American requirements should include 
renunciation off terrorism, subversion, 
sabotage of die Israeli- Arab peace 
talks, and construction of nuclear arms. 
A country that had accepted these in- 
ternational rules of the road still would 
have its own national and regional am- 
bitions but would qualify as a strategic 
interlocutor of the United States. 

Like all revolutionaries, Iran wants 
recognition of its legitimacy. It may 
also want acknowledgment of the CIA 
intervention of 2954 by which the 
United States ousted an elected leader 
and seated a Western-oriented apostle 
of secular modernization, the sh3h. 
himself ousted in 1979. Thea Iran 
wants a voice in practical matters in- 
cluding energy, regional security and 
its American-held assets. To be secure 
against a resurgent Iraq and to satisfy 
public demands for a softer sort of 
modernization appear to be goals of the 
newly elected leadership in Tehran. 

For Washington, Iran’s Islamic ver- 
sion would not be the first revolution- 


mes. 

fundamentalism, other Middle Eastern 
countries are unwilling to shun such a 
large, wealthy neighbor. 

The benchmarks for better relations 
with America are no mystery. Iran 
most end its support for terrorist 
groups, stop trying to build nuclear 
weapons and cease uying to disrupt the 
Middle East peace effort It also has to 
get over its allergy to the United States 
and its implacable hostility to IsraeL 

None of that is likely to happen 
quickly, as Mr. Khatami indicated 
himself. But Washington should be 
prepared to build a better relationship 
if there is tangible evidence that Ira- 
nian policy and behavior are changing. 
Opening a dialogue with Mr. Khatami 
would be a reasonable way to staff. 

— THE NEW YORK TIMES. 


ary regime with which it came to terms. 
The CIA intervention could be dealt 
with in a mutual context including the 
Ir anian seizure of the U.S. Embassy in 
1979. For practical matters, the normal 
channels of diplomacy, information 
and commerce are available. 

Iran is a country for which Amer- 
icans traditionally harbor respect and 
goodwill The ayatollahs’ revolution of 
1979 broke this tradition. Iran was 
already important as a player in Gulf oil 
and strategy, specifically as an offset to 
Iraq — a role it could yet resume to its 
own as well as American advantage. 
Uniquely, it is doubly important as a 
player in emerging Caspian Sea oil and 
Strategy — the 19rb century “great 
game” reborn. 

Others have found the American ef- 
fort to isolate and punish Iran anom- 
alous and obsolete. But this is an in- 
substantial rap. For almost 20 years, 
Washington has demanded that rev- 
olutionary Iran respect the internation- 
al rules. Intimidated neighbors and 
commercially mind**! allies were for 
relaxing the roles — and they did — 
but produced scant results. American 
policy was in essence responsible. If 
now Iran is reconsidering — and that 
remains undemonstrated — the United 
States also can reconsider and take 
some of the credit for the change. 

— THE WASHINGTON POST. 


Values for Africa 


There was much to welcome in the 
message Secretary of State Madeleine 
Albright brought to Africa during her 
weeklong visit to half a dozen nations, 
and also some cause for skepticism. 
Unlike during Bill Clinton’s first term, 
the administration seems to be thinking 
about Africa and its economic prob- 
lems for more than five minutes at a 
time. Officials have worked with mem- 
bers of Congress to develop a strategy 
focusing on trade and investment. 

This comes at a time of some hope as 
well as the usual conflict and horrible 
poverty. Much of Africa remains less 
touched by the whirlwind of global 
investment than any other part of the 
world, and many countries are still 
reeling front murderous ethnic and 
civil conflicts. But last year 33 coun- 
tries in sub-Saharan Africa had faster 
economic than population growth, 
with five growing by 7 percent or more. 
A group of new leaders, whose regimes 
Mrs. Albright sought to spotlight, have 
replaced old dictators and, in some 
cases, sought to instill new habits of 
political and economic self-reliance. 

In approaching these new leaders, 
she emphasized that the United States 
wants to listen and not just preach. She 
admitted past U.S. mistakes — par- 
ticularly the failure to acknowledge 
and confront the genocide that took 
place in Rwanda in 1994. And while 
speaking up for democracy and uni- 
versal freedoms, she soft-pedaled the 
human rights abuses still taking place 
in many of the places she visited. This 
resulted from a calculation that the 
Untied States could accomplish more 
by "engaging” with Africa's leaders 


than by standing on the sidelines, crit- 
icizing and refusing to engage at alL 

This policy, in force toward coun- 
tries in other parts of the world, is, as it 
is with them, defensible to a point. But 
it can be taken too far. It is certainly not 
yet proved that “Africa's new leaders 
... share a common vision of empower- 
ment — for all their citizens, for their 
nations, and for their continent,'’ as 
Mrs. Albright maintained. Laurent 
Kabila, the new leader of Congo, has 
had journalists and opposition politi- 
cians jailed and whipped for seeking to 
peacefully do their jobs or express their 
views. The United States should be 
standing by their sides at least as vis- 
ibly as by Mr. Kabila. 

Africa has much to overcome, but it 
does not follow, as senior U.S. officials 
have said, that it cannot be held to 
Western standards of personal and polit- 
ical freedom. As in Asia, courageous 
democracy activists from Nigeria to 
Congo to South Africa would rightly 
deny that there is anything uniquely 
"Western” about such values. 

Africans who have seen U.S. ini- 
tiatives come and go may be forgiven 
for wondering how long this one will 
last. It is fine to talk about trade and 
investment, but many economies start 
from so tow that they can’t get anywhere 
without some aid and debt relief. Yet 
world aid to Africa’s poorest nations has 
been dropping, and America has cot 
done nearly as much as it should to 
provide debt relief to countries that can’t 
make it without such help. No sym- 
pathetic speech or diplomatic strategy 
can overcome that load of failing. 

— THE WASHINGTON POST. 


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The Dollar Will Have to Make Room for the Euro 


W ASHINGTON — By current 
predictions, as much as $L tril- 
lion of international investment may 
shift from dollars to euros. The euro's 
political impact will be intense. 

The dollar-centered system that has 
prevailed for most of this century will 
be unseated by a bipolar currency sys- 
tem dominated by Europe and the 
United States. A quantum leap in trans- 
Atlantic cooperation will be required to 
handle this transition. 

Hie dollar and toe euro are each 
likely to wind up with about 40 percent 
of world finance, with about 20 percent 
remaining for the yen, the Swiss franc 
and minor currencies. 

Even if the initial Economic and 
Monetary Union is made up of only the 
half-dozen assured core countries, that 
would be enough to constitute an eco- 
nomy about two-thirds the size of 
America’s and almost equal to Japan's. 
The global trade of this group would 
exceed that of the United States. 

Creation of the euro will raise many 
policy issues that will require serious 
dialogue, both across the Atlantic and 
in multilateral settings such as toe 
Group of Seven and me International 
Monetary Fund. . 

Europe has always accounted for a 
share of world trade comparable to that 
of the United States. Trade policy has 
been bipolar for almost four decades, as 
evidenced by the practice of Europe 
and toe United States agreeing to all 

mnlrilator al t rade. m nnHs in the General 

Agreement on Tariffs and Trade and 
recent sectoral agreements in the 
World Ttade Organization. 

It is worrisome, however, that to date 


By C. Fred Bergsten 

the United States and toe Group of 
Seven have failed to address toe rise of 
the euro seriously. 

The euro’s evolution will not be af- 
fected by whether the currency is 
launched in 1999 or 2001, or whether 
the "Club Med’.’ countries (Italy, Por- 
tugal and Spain) are included at toe staff 
or join a couple of years later. These are 
small details; in toe larger sense, toe 
same conclusions will apply. 

The euro will probably be strong 
from its inception. The Maastricht 
treaty gives toe European central bank 
a mandate to ensure price stability. The 
bank will place overwhelming empha- 
sis on establishing its credibility as 
soon as possible. 

Essentially, it will be toe first central 
bank in history without a government 
looking over its shoulder. Since it lacks 
toe 50-year credibility of toe Bundes- 
bank, it will be tough in pursuing a 


i erica’s external economic 
tion will continue to raise doubts about 
the future stability and value of the 
dollar. America has run current ac- 
count deficits for toe past 15 years. Its 
net foreign debt exceeds $1 trillion and 
is rismgannually by 15 to 20 percent. 

The EU, - in contrast, has a roughly 
balanced international asset position 
and has run modest surpluses in its 
intomflrinnal acc ount* in recent years. 
On this important criterion, the EU is 
superior to the United States. 

It would be improper to compare the 
euro, which will meet ail of toe key 


■ c urre ncy criteria, with toe stun of toe 
indiv i dual European currencies, . most 
of which do not. The comparison must 
be with toe Deutsche mark. 

While most Europeans want a strong 
euro, they also want to avoid an over- 
valued currency that deepens tocir eco- 
nomic difficulties. Many believe that 
their national currencies are already 
overvalued despite recent substantial 
declines against toe dollar. 

Many analysts agree that' toe euro 
will rival the dollar as the world’s-lead- 
ing currency. Most believe that such a 
shift wiD take considerable time, since 
any redistribution of international port- 
folios occurs incrementally. 

The euro’s rise may have to await a 
serious policy lapse by toe United 
States, as in toe late 1970s.- or a re- 
newed explosion of America's external 
debt position, as in the mid- 1980s. But 
even the most successful and best-man- 
aged countries undergo occasional set- 
- backs, and toe euro’s rough parity with 
toe dollar is probably inevitable. 

Meanwhile, the euro’s rise will con- 
vert an international monetary system 
that has been dominated by toe dollar 
since World War II into a bipolar sys- 
tem. Clearly, toe structure and politics 
of global financial cooperation will 
change dramatically. 

Of late, France is running sizable 
trade and current account surpluses. 
Germany has toe world’s second- 
largest trade surplus and is toe world’s 
second-largest creditor country. The 
EU is a surplus region. 

By contrast, toe U.S. trade and cur- 
rent account deficits are beaded well 
above $200 billion in 1997. The avail- 


ability of a more attractive alternative 
to toe dollar could decrease U.S. ability 
to finance its large external deficits. 

Significantly, many Europeans be- 
lieve that monetary union will usher in 
an era of cooperation and that Europe . 
will speak witii a single voice, enabling 
i£ to force toe United States to be more 
isrve and cooperative. 

- — view this as an 



imp ortant gt 

They know that toe United Slates 
could react defensively to a loss of 
monetary dominance and seek, per- 
haps, to create a formalized dollar area, 
such as Britain's sterling area m toe 
1930s. In turn, the EU could adopt a 
strategy ofbenign neglect, arguing that 
toe United States has done so re- 
peatedly and that its turn has now 
come. Trade protection could result 
from either course. 

If will be up to toe governments 
of toe two regions to achieve a smooth 
transition from toe sterling- and dollar- 
dominated monetary systems of the 
19th and 20th centuries to a stable 
dollar and euro system in the early 
21st century. 

The underlying strength and history 
of toe North Atlantic relationship bode 
well, but achieving a successful out- 
come will be a major policy challenge 
in the years ahead. 

‘ The writer, a former IJJS. assistant 
secretary of the Treasury, is director 
of the Institute for International Eco- 
nomics. This comment has been ad- 
apted from a longer article in Foreign 
Affairs distributed by New York Times 
Special Features. 


I 


l 


South Korea Isn’t Bankrupt, and Outsiders Had a Role 


H ong kong — south 

Korea has become the most 
conspicuous victim of market 
hysteria, which could spread. 

Exaggeration is contagious. 
Examples abound. An American 
economist dismisses South 
Korea as a “zombie economy.’’ 
Commantators abuse toe word 
“bankrupt” Phrases like “ ‘teach 
Korea a lesson’’ proliferate. 

But look at some facts. First, 
South Korea's net foreign debt 
is about 35 percent of GDP. In 
absolute terms and as a per- 
centage of GDP it is 's imilar to 
that of Australia. In per capita 
terms it is roughly toe same as 
net U.S. foreign obligations. 

South Korea’s problem is not 
the size of the debt but the fact 
that so much of it is short-term 
and owed by corporations, not 
by government — which is sup- 
posedly a good thing in this era 
of privatization. 

To South Korea's own debt is 
now being added, in many cal- 
culations, the borrowings by 


By Philip Bo wring 


Korean companies for use off- 
shore. This debt is a problem for 
some companies ana banks, but 
it is not hidden debt By toe 
criteria of toe Bank for Inter- 
national Settlements, much is 
not Korean debt at alL 

If it is to be treated as such, 
Koreans would be well advised 
to start toe so-called refrains 
being demanded by the IMF by 
closing down factories in Scot- 
land and elsewhere in the de- 
veloped world where Korean 
creation of new industries has 
contrasted with local failure to 
create manufacturing jobs. 

Korean companies are cer- 
tainly overextended, but re- 
cently the foreign banks that are 
dow looking for a quick exit 
have been, as culpable as die 
domestic banks. 

Korean companies are ex- 
cessively leveraged, but total 
credit in South Korea has not 
expanded especially fast, and as 


a percentage of GDP is lower 
than in Hong Kong. 

The irony for South Korea is 
that it long discouraged private- 
sector foreign borrowing. Its 
problems are partly due, as even 
the IMF admits, to' toe liber- 
alization it was persuaded to 
undertake. 

A second feet that ought to be 
at the center of discussion is that 
South Korea does not have a 
significant current account prob- 
lem. Its deficit peaked last year 
at Dearly 5 percent of GDP when 
export prices collapsed, but that 
was exceptional Next year the 
current account looks ukely to 
move into large surplus. 

South Korea does not face 
traditional, trade-based 
meets problems. It is not bar 
rapt, and does not have serious 
macroeconomic imbalances. Its 
problem is of corporate and for- 
eign exchange liquidity, brought 
about in large part by fickle mar- 


kets guided by economists at 
investment hanks and by rating 
agencies which follow toe sen- 
timents of the crowd, rather than 

^^Tie^risis says mare*about 
fragile international capital 
markets than about Korea. 

The country needs corporate 
restructuring to shut excess ca- 
pacity, improve returns and 
lower debt But that cannot hap- 
pen overnight 

Most of toe IMF’s all-pur- 
pose medicine is irrelevant to 
this case. The last thing a coun- 
try with low inflation, fiscal bal- 
ance, small current account def- 
icit and collapsing domestic 
demand needs is the even higher 
interest rates demanded by toe 
IMF. These exacerbate the cor- 
porate debt that is the heart of the 


from rolling over short- 
term loans which they knew 
were for long-tram projects. 

The resultant coflapse.of the 
won has snowballed impact so 


that even one of toe world's 
most efficient companies, toe 
steelmaker POSCO, faces enor- 
mous losses. 

These banks should consider 
what toe reaction would be is 
their home markets if they tried 
to reduce consumer or mort- 
gage loans by 20 percent 

It would not be surprising if 
Souto Korea preferred the in- 
dignity of some bank and chae- 
bol foreign debt defaults to 
agreeing to inappropriate pol- 
icies believed — not just by 
xenophobic Koreans — to be 
driven by blinkered foreign self- 
interest and Japanese disarray. 

If Korean defaults lead to 
problems in Europe, who would 
really be to blame? 

International banks should 
ponder toe damage their loan 
policies in Asia have done to 
globalization and free capital 
flows. They have acted like si 
thundering herd of sheep. Hys-j 
teria has followed euphoria. 

International Herald Tribune. 


Fine Start Against Bribery, but We’ll Have to Follow Up 

gTOCKHOLM 


— The 
OECD is sending out a 
harsh Christmas greeting this 
year to those who have made it a 
habit to bypass competition by 
handing out bribes. That should 
come to an ead now, as the 
OECD anti-bribery convention 
is signed today in Paris. 

Thirty-four of the world's 
richest countries are making it a 
crime to bribe foreign officials. 

In the next few years we 
should expect positive changes 
in company behavior. Compa- 
nies that play by toe rules will 
no longer be put at a disad- 
vantage. Competition will no 
longer be distorted by corrup- 
tion. The present practice of 
steering business away from 


By Leif Pagrotsky 

The writer is Sweden's minister af industry and trade. 


cheaper to more expensive sup- 
pliers will disappear. 

The convention should facil- 
itate the snuggle against 
poverty as well If we get rid of 
corruption, we get rid of one of ' 
the most serious remaining bar- 
riers to development 

We should now make sure 
that all this occurs. That means 
that toe drive against corruption 
cannot stop. The determination ' 
that produced the OECD con- 
vention should be applied to the 
follow-up process. 

To eliminate bribes in busi- 
ness transactions we need con- 


tinued active involvement by 
governments as well as by the 
international business commu- 
nity. I suggest that we proceed 
along the following lines. 

• In .the same way that 34 
countries (including five non- 
OECD members) now pledge to 
apply toe convention against 
bribes, companies should make 
a commitment against nnfair 
business practices by develop- 
ing and signing an internation- 
ally agreed code of conduct 

Many businesses, particu- 
larly in America, already have 
codes concerning bribery and 


Science Doesn’t Predict Climate 


C AMBRIDGE, Massachu- 
setts — Forty years ago, 
when weather modification 
Was popular speculation in 
meteorology, the Soviet Union 
realized that climate was al- 
ways changing while our abil- 
ity to modify it was minimal at 
best. It therefore reached a 
treaty with toe United States 
never to use climate modific- 
ation as a tool of war, thus 
preventing 'people from mis- 
taking toe inevitable thoughts, 
floods, heat waves and cold 
spells for acts of war. 

That treaty displayed an un- 
usual and admirable appreci- 
ation for nature and concern 
for mankind. The graceless 
machinations at Kyoto this 
month have illustrated how fer 
bofo have deteriorated since. 

The negotiations presented 
an unseemly picture of dip- 
lomats desperate for some 
treaty at any cost, industrial 
interests asking that any 
treaty, however bad, be ap- 
plied to toe developing world, 
and environmental advocates 
insisting dishonestly and afc 
surdly that all scientists agree 
with toe most lurid scenarios. 

The last follows an 
minio ns tendency of 
century to in voire the perceived 
authority of science in behalf 
of policy, however eviL 
In the case of global climate 
change, there was a blatant at- 


By Richard S. Lindzen 


tempt to co-optsaence through 
the establishment of a polit- 
ically led international panel 
the Intergovernmental Panel on 
Climate Change, allegedly 
“representing" science. The 
present head of toe IPCC is 
currently at the World Bank. 
He has never contributed to our 
understanding of toeptytics of 
climate, but has publicly de- 
clared that b inding emissions 
restrictions are essentiaL 

Given toe potentially im- 
mense costs to all and the 
suspicions, (not totally un- 
founded) of toe develoi 
world that environment 
will be toe disguise of im- 
perialism in toe 21st c e nt u r y , it 
was not surprising that toe ne- 
gotiations were contentious. 
In many ways, toe science was 
irrelevant to the outcome. 

Even the IPCC could not 
hide toe immense uncertain- 
ties concerning such an ele- 
mentary process as the green- 
house effect Nor could it 
ignore toe substantial evi- 
dence that current primitive 
models are exaggerating the 
effect" of emissions on such a 
basic quantity as global mean 


concerning storms, 
floods, droughts, disease, cli- 
mate “surprises” (whatever 


they may be) are so specu- 
lative (hat we do not know if 
emissions controls are likely 
to help or harm. We do know 
that the .proposed emission 
controls, even if globally im- 
plemented, would have little 
real effect on climate. 

Since we propose to give 
ourselves 12 years to act, lei's 
close toe negotiations and use 
the resources tons released to 
encourage science to really as- 
certain whether there is a 
problem or not, while 
ourselves the 
more Kyotos. 

And let us develop a more 
prosperous world in which 
there will be sufficient food 
for all, diseases like malaria 
are brought under control, real 
pollutants are adequately re- 
duced in air and water, and toe 
talents ofail can be released to 
deal with the inevitable but 
unanticipated problems we 
will actually face. 

Among these may be a cli- 
mate that will warm or cool 
regardless of .the presence of 
h uman beings 

The writer, Alfred P. Sloan 
professor af meteorology at 
the Massachusetts Institute of 
Technology and a member of 
the UJS. National Academy of 
Science, contributed this com- 
ment to Global Viewpoint (Los 
Angeles Times Syndicate). 


other ethical issues. Unisys 
Coip., for example, has a code 
" of conduct, requiring employ- 
ees to attend an ethics course 
once a year. They then sign a 
document in which they prom- 
ise to abide by the code and 
affirm that nothing has 
happened in the previous year 
that is in breach of it 

• Regulations concerning 
bank confidentiality need to be 
changed. Governments should 
oo longer accept toe existence 
of rales that can be used to 
protea the profits of crime. 

There are good reasons for 
banks to agree to a major 
cleanup of the regulations. The 
banking community is currently 
suffering a well-deserved cred- 
ibility crisis, after revelations of 
scandals. involving banks in a 
number of countries. 

The secrecy regulations thar 
came into being to protea the 
individual against unfair treat- 
ment by oppressive states have 
been shown to protea dictators 
like Mobutu Sese Seko and 
Ferdinand Marcos. 

So long as some govern- 
ments and banks maintain this 
excessive secrecy, they will not 
escape the suspicion that they 
value the right to make money 
by protecting shady deals and 


individuals more than thejj 
value our respect. 

• The geographical reach o$ 
toe OECD convention should 
be extended. More countries 
should be induced to join. And 
toe International Monetary 
Fund and toe World Bank could 
pay increased attention to cor 
niption when offering aid 
Eventually, rules against unfai i 
business practices should be in- 
cluded in the World Trade- Or 
gauization regulatory system. 

• An effective monitoring 
mechanism is of utmost impor- 
tance. To ensure strict and fail 
implementation, the countries 
that sign the OECD convention 
should subjea themselves tore-’ 
views that are made public. 

• Within the WTO, work id 
being carried out on increasing 
transparency in public procured 
meat, an area emeu associated 
with corruption. We should 
m ak e sure that binding rules are! 
agreed upon and applied. 

The OECD convention is ad 
achievement but also a begin 
mng- To continue and intensify 
the work against unfair busines^ 
practices has to include more 
actors than just governments! 
The business community 
should have a lot to contribute. 

International Herald Tribune.' 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1897 : Dandet Dies 

PARIS — Alphonse Daudet 
died suddenly while dining with 
his family. The state of M. 
Daudet’ s health had given cause 
’ tor anxiety for some time past, 
but no one suspected that there 
was any immediate danger. 
Yesterday [Dec. IQ he worked 
as osoaL At half-past seven, the 
whole family met at dinner. The 
gathering was a merry one. and 
“ere was plenty of chat and 
laughter. Suddenly M. Daudet 

S ve a cry and his head fell back. 

: had fallen into a syncope. 

1922: President Killed 

WARSAW — President Nary- 
towicz was killed, while visiting 
an art exhibition, by an artist 
raswd NzewiadomskL Three 
shots were fired. Niewiadomski 
has been arrested. It is believed 
mat he acted entirely on his own 


acted as a mediator between thtf 
Left parties and toe National 1 
ists. It was his popularity with 
die Left, including the Minor j 
ities group (Jews and Germans)] 
dial aroused Nationalist feeling 

against him. 

1947: ‘Red Dean 9 

— ■ The Archbishop 
of Canterbury issued a state] 
ment dissociating die Church of 
Enjland from “recent action? 
and utterances’ ' of toe Dean of 
Canterbury, toe Very Rev 
Hewlett Johnson. Dr. Johnson! 
nicknamed the “Red Dean’’ b}j 
toe British press for his pro 
Russian opinions, issued. 
statement in reply to toe arch , 
bishop. He pointed out that he 
had been appointed by a So] 
cialist Prime Minister “pre] 
jsefy because I had long-ui^ed 
that Socialism was in ray view 


initiative. During his brief potit“ 0l ? y ** but M 

ical career, M. NanitowicThad 







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RAGE 9 


OPINION/LETTERS 


St7i>.; -.Vr - 
<i« 8w ‘ - 


America’s ‘Social Capital’: 
Good News and Bad News 


By David S. Broder 

"Wv2?dS^ T Every st * oifflS l“d calculated 

Petals ofpubte opWoT^S • Sy^gmgteimerviewq^s- 


cross my desk, many of *eni dis- 
tributed by special interest 
groups. Amazingly, these surveys 
almost always show strong grass- 
roots support for whatever cause 
that organization is pushing. 

The ^ surv ey that arrived last 
week from the American Asso- 
dation of Retired Persons, and 
mat will be made public within a 
few days, is in an entirely different 
category- ft is a subtle, sophis- 
ticated and significant piece of so- 
cial research, done by Thomas M. 
Guterbock and John C. Fries of the 
Center for Survey Research of the 
University of Virginia, under the 
direction of the AARP’s director 
of research. Constance Sw ank 

It is a major contribution to 
understanding a set of questions 
increasingly at the center of U.S. 
public policy debate — the issues 
of social trust, civic engagement 
and cynicism about gove rnme nt 

The decline in voter turnouts 
and in confidence in major in- 
stitutions, the growing distrust of 
politicians and public officials, 
have been the subject of worried 
commentary for years. 

The debate on causes and con- 
sequences of this “malaisp” took 
an important turn in 1995. when 
Robert D. Putnam of Harvard 
published an influential essay 
called “Bowling Alone.” In it he 
argued that we Americans were 
becoming increasingly discon- 
nected from our communities and 
from each other, thus depleting 
the supply of “social capital’* on 
which democratic government 
'depends. 

In Mr. Putnam’s view, lower 
'memberships in bowling leagues 
— even while more and more 
‘people tried individually for 
strikes and spares — was a meta- 
phor for a society that was in- 
creasingly atomized and lacking 
in community spirit. 

Other scholars quickly chal- 
lenged Mr. Putnam’s data and in- 
terpretations. But the AARP sur- 
vey advances the understanding of 
the state of our civic life more than 
any other single study 1 have read. 

There is both good news and bad 
news in the findings, which are far 
( too rich to be summarized here. On 
the upbeat side, America turns out 
to be more of a society of “join- 
.ere” than Mr. Putnam and many 


tion for the 1.500 people in the 
survey — asking for specific or- 
ganizations r ather than broad cat- 
egories of groups in which they 
hold memberships — the AARP 
study found that the average Amer- 
! — adult has four affiliations. 


ican 


Only one in seven has no formal 
links outside of family or woric 
Volunteering numbers are also 
high, and so is the sense of com- 
munity. Almost half the adults re- 


ported that they had volunteered 
dnri 


unng the past year and many of 
ibnto' 


them contributed substantial time. 

Political activity is low. but that 
is not an indicator of apathy. When 
asked about their level of interest 
in and sense of ability to influence 







For a Modest Christmas , 
A Radical Proposal 


By Bili McKibben 


J OHNSBURG, New York — I 
know what I’ll be doing on 
Christmas Eve. My wife, my 4- 
y ear-old daughter, my dad, my 
brother and I will snowshoe out 
into the woods in late afternoon, 
ready to choose a hemlock or a 
balsam fir and saw it down — I’ve 
had my eye on three or four likely 
candidates all year. 

We ’II bring it home, shake off 
the snow, decorate it and then 


MEANWHILE 


jmlicy — - especially at the local 


the “civic engagement” 
scores were quite high. 

But that does not mean that 
trust in other people — or in gov- 
ernment - — is correspondingly 
healthy. A survey question found 
as many people saymg “you can’t 
be too careful’’ in dealing with 
others as said “most people can 
be trusted.” That was better than 
The Washington Post found when 
it posed an identical survey ques- 
tion late in 1995 but still not 
to cheer about. 

Hie AARP found that only 28 
percent believe the national gov- 
ernment can be trusted to do what 
is right most or all of the time, 
statistically identical to The Posr’s 
result Confidence in the pros- 
pects for the next generation were 
similarly and app allin gly low in 
both surveys. 

This suggests a refinement of 
Mr. Putnam’s theory — one that 
recognizes that the “trust” ele- 
ment of “social capital” is much 
weaker than the “civic engage- 
ment” index. 

Older Americans, regular 
newspaper readers and, espe- 
cially, those with active religious 
affiliations and practices are more 
civic-minded than 18- to 25-year- 
olds. the TV-dependent and the 
unchurched. 

Bur overall, the study shows 
that “we're not a nation of civic 
slugs,” as Constance Swank told 
me. “Despite their lack of trust in 
government, most Americans 
have not lost their sense of what 
they can do individually or col- 
lectively in their communities. ’ ’ 

The Washington Post. 


LETTERS TO THE EDITOR 


On Turkey 


The European Union has com- 
mitted a colossal foreign policy 
mistake by rejecting Turkey for 
EU membership. 

Not known for great sensitivity 
or vision in the foreign policy 
arena, the EU has overlooked two 
firings. 

First, the Union should be tak- 
ing every conceivable step to 
strengthen its position in the 
southeastern Mediterranean area. 

Second, Turkey is a long- 
serving and committed member 
of NATO and thus is “good 
enough” to be at least a candidate 
for EU membership. There is a 
strong case to be made for every 
European NATO state’s automat- 
ically qualifying for the European 
Union. 

The fact that Turkey serves as a 
bulwark against militant Islam 
and is now forging strategic al- 
liances with Israel is a strong rea- 
son to offer it the prospect of EU 
membership. 

Inviting Poland. Hungary and 
the Czech Republic to join the 
European Union while rejecting 
Turkey demonstrates an inex- 
cusable double standard at best 
and geopolitical stupidity at 
worst. 

KARL H. PAGAC. 

Villeneuvc-Loubet. France. 


ion, Dec. /0), asks himself what 
causes the European Union’s re- 
luctance to admit Turkey into its 
midst. The answer is given by Mr. 
Cem himself, who rightly says 


that European culture is defined 
by such factor 


Sometimes it is patriotic to ad- 
mit your own country's mis- 
takes. 

MARKO SEGAWA. 
Osaka, Japan. 


factors as “democracy, 
human rights, rule of law” and so 
(XL 

Turkey's political-uniliiary es- 
tablishment has proved unable to 
adhere to these fundamental val- 
ues of the Western world 
Our Turkish neighbors cannot 
therefore accuse the EU of dis- 
criminating against Turkey 
simply because it is a Muslim 
country. 

STEPHANE STATHATOS. 

Athens. 


Nanking’s Legacy 


Ismail Cem, Turkey’s foreign 
minister ( “Isn t Europe Ambitious 
Enough, to Admit Turkey?” Opin- 


Regarding “The Orgy of Nan- 
king: Details Still Vivid After 60 
Years” (Opinion, Dec. 12) by 
Denis and Pcgg y Warner: 

1 am sad that some old Japan- 
ese politicians still claim that 
the Nanking massacre did not 
happen — a view that is certainly 
not shared by the general public 
in Japan. 

Yes, war is war. It would be 
hypocritical to say that the Allied 
nations fought more humanely. 
But the fact that other nations 
also engaged in brutal acts dur- 
ing World War n hardly exon- 
erates Japan from the crimes 
against humanity that its military 
committed. 


How did Japan's “honorable” 
military of 1905 become a bar- 
barian horde a generation later? 
As the writers say. most likely as a 
result of education: Chinese were 
depicted as less than human. 

The same question was asked at 
the end of World War II: How did 
the land of Beethoven and Goethe 
produce a generation of mass 
murderers? Because Nazi propa- 
ganda and teaching depicted Jews 
and others as subhuman. 

How could young American 
soldiers kill hundreds of not only 
men but women and children at 
My Lai? Because Vietnamese 
were called “gooks.” 

Pejorative, dehumanizing la- 
bels should be socially damned 
and cast out. 

ROBERT LACKENBACR 
Konstanz. Germany. 


It took the Japanese six weeks to 
perform the ghastly massacre of 
300,000 Chinese. When one thinks 
that it took only a few minutes for 
America to do away with nearly 
the same number of Japanese just 
eight years latex, one cannot but 
marvel at the fantastic improve- 
ment in murder technology within 
such a short period of time. 

ANDRE PERTUZIO. 

Paris. 


head for church, where the Sun- 
day school class I help teach will 
gamely perform this year’s pa- 
geant. And then it's home to hang 
stockings, stoke the fire and off to 
bed. As traditional as it gets, ex- 
cept that there's no sprawling pile 
of presents under the tree. 

Several years ago, a few of us in 
the northern New York and Ver- 
mont conference of the United 
Methodist Church started a cam- 
paign for “SI 00 holidays." The 
church leadership voted to urge 
parishioners not to spend more 
than $100 per family on presents, 
to rely instead on simple 
homemade gifts and ou presents 
of services. 

That first year I made walking 
sticks for eveiyone. Last year 1 
made spicy chicken sausage. My 
mother has embraced the idea by 
making calendars illustrated with 
snapshots she's taken. 

So far our daughter, Sophie, 
does fine at Christmas. Her stock- 
ing is exciting to her. the tree is 
exciting; skating on the pond is 
exciting. It’s worth mentioning, 
however, that we don't have a tele- 
vision. so she may not understand 
the degree of her impoverishment. 

This holiday idea may sound 
modest. It is modesL And yet at file 
same time it’s pretty radical. 
Christmas, it turns out. is a bul- 
wark of the U.S. economy. It hits a 
nerve to question whether we 
should celebrate the birth of a man 
who said we should giveall that we 
have to file poor by showering one 
another with motorized tie racks. 

It’s radical for another reason, 
too. If you believe that our Amer- 
ican consumer addiction represents 
our deepest problem — the force 
that keeps us from reaching out to 
others, from building a fair society, 
the force that drives so much of our 
environmental degradation — then 
Christmas is file nadir. 


When we began the $100 cam- 
paign, merchants writing to the 
' local papers made it clear to us 
what a threatening idea it was. 

Newspaper columnists thought 
it was pretty extreme, too — one 
said that while our message had 
merit, it would do too much dam- 
age to business. 

And he was right, or at least not 
wrong. If we all hacked out of 
Christmas excess this year, we 
would sink many a gift shop; if we 
threw less lavish office parties, 
caterers would suffer — and flor- 
ists and liquor wholesalers and od 
down the feeding chain. But we 
have to start somewhere if we’re 
ever to climb down from the 
unsustainable heights we’ve 
reached, and Christmas might as 
well be ii. 

When we began to spread this 
idea about celebrating Christmas in 
a new way, we were earnest and 
sober. Big-time Christmas was an 
environmental disgrace — all that 
wrapping paper, all those batteries. 
The money could be so much better 
spent: Hie price of one silk necktie 
could feed a village for a day. 

Also, struggling to create a 
“proper” Christmas drives poor 
families into debL Here. January 
finds many people cutting back 
on heat to pay off their Christ- 
mas bills. 

Those were ail good reasons to 
scale back. But as vve continued 
our campaign, we found we were 
not really interested in changing 
Christmas because we wanted 
fewer batteries. We wanted more 
joy. We felt cheated by the Christ- 
mases we were having — so 
rushed, so busy, so full of mer- 
cantile fantasy and catalogue hype 
that we couldn't relax and enjoy 
the season. 

Our growing need to empha- 
size joy over guilt says a great 
deal about the chances for Chris- 
tian radicalism, for religious 
radicalism in general. At its 
truest, religion represents the one 
force in our society that can pos- 
tulate some 'goal other than 
accumulation. 

In an I-dolatrous culture, re- 
ligion can play a subversive role. 
Churches, mosques and syn- 
agogues almost alone among our 
institutions can say, “It’s not the 
economy, stupid, it's your life” 
— it’s learning that there’s some 
other center to the universe. 

Los Angeles Tunes. 


Phoabj TduyaM Taxes** 



The secret to healthy children is dose to nearly every mother’s heart. 


The Jove between a mother and child is obvfcns. But 
another relationship s not so obvkms: the secret of proper 
nutrition and a mother’s ability to provide it 

Hie lack thereof is implicated m more than half of all 
child deaths worldwide A proportion unmatched fcy any 
infectious disease in the world today. Yet malnutntton is 

neither infectious nor inevitable. 

It can be prevented by fortification of foods with 
essentials such as vitamin A and iodine. By increasing the 
knowledge and underaandjng of a growing 


Uiumvugv i J L Vi. 

child’s nutritional needs. And by applying 
that knowledge and understanding to help 


mothers provide the care so vital for the nutritional well- 
being of their children. 

This is why UNICEF believes that women must be assured 
of impartial opportunities in education and employment so 

they are able to make informed and prudent dedsions. That 
they have adequate time for femDy 
concerns. And that they receive 
sensitive attention from skilled 
medical practitioners. * 

As a company that 
beEeves in living and 
working together for 


60S 

5 



the common good, we at Chiton hope that UNICEFs message 
about nutrition win be heeded throughout the world. As a 
letter in photography and visual communications, we hope 
that more and more mothers and children will be property 
nourished, so that more and more happiness, rather than 
sadness, will be captured through the lenses of our cameras. 

And we applaud aD the individuals and organizations 
who are working to help ensure sound nutrition. Because 
there is no substitute for the caring within a mother’s bean: 
Nor for the proper 

sustenance of her and 


her children. 


A Tragedy With 
No Excuse. 


A message from Johann Olav Koss , 
UNICEF Special Representative 
for Sports 



In my trawfc through- 
out the world on 
behalf of UNICEF, 
Olympic AidAdanta, 
and Norwegian 
Olympic Aid, I have 
seen great tragedies 
involving children. 
Children who. are 
suffering from war- 
induced psycholog- 


ical trauma. Children who are homeless. 
And, as an advanced medical student, I am 
particularly concerned about the diseases 
and — yes — even the deaths of young 
children that could be prevented through 
proper nutrition. It is a tragedy to overlook 
‘this base need of children. A tragedy with 


no excuse. 





Johann Olav Koss 


Help UNICEF help children. 


unicef 



United Nations Children’s Fund 


For sure infccmatkin. pleas? contact your nearcs UNICEF ofikr 
or National C d l W iil W Car UNICEF. 


TW* column Is donated by 
Canon nnd the international Herald THbun*. 


Eioitryr*-' -- 





INTERNATIONAL 


Despite Critics, U.S. Expected to Send Aid to Bosnian Serbs 


By R. Jeffrey Smith 

Washington Post Service 


WASHINGTON — The Clinton ad- 
ministration is expected toendorse die 
first major U.S. and allied package of 
financial aid to Bosnia’s Serb Republic 
this week, despite strong objections 
from lawmakers and human rights ac- 
tivists who say the money should be 
withheld until Serb leaders turn in war 
c riminals to an internationaTtribunal. 

With the administration’s support, se- 
nior State Department and White House 
officials said, the World Bank’s Inter- 
national Development Association is ex- 
pected to vote Dec. 23 in favor of loans 
worth an estimated SIS million to fund 
critical housing repairs and reconstruc- 
tion of the republic’s tattered electrical. 


agricultural, water and sanitation sys- 
tems. 

million indirect U.S. assisfcmra° for re- 
construction and democratization ef- 
forts, and other donors, such as the Euro- 
pean Union and Austria, are likely to 
follow the American example by provid- 
ing as much as $48 million, the U.S. 
officials said 

Most of toe international assistance to 
toe region since a peace agreement was 
signed in Dayton,. Ohio, on Dec. 20, 
1995, has flowed to the portion of Bos- 
nia controlled by Muslims and Croats, 
and this new aid represents the largest 
infusion of international funds for Serb- 
held areas since the end of toe war, 
accofriutg to UjS. officials. 

The officials have bluntly described 


the aid as toe linchpin of their efforts to 
bolster public support for toe Bosnian 
Serb president, Btijana Plavsic, whose 
Serbian National Alliance party recently 
captured IS of 83 seats in toe republic s 
Parliament. 

The administration has pinned its 
hopes for fuller implementation of toe 
Dayton accord on Mrs. Plavsic, who has 
been less disdainful of its provisions 
than toe backers of her hard-line op- 
ponent, Radovan Karadzic. 

Roughly 85 percent of toe World 
Bank fluids are earmarked for towns that 
fall within toe western portion of toe 
republic, where most of her supporters 

reside. 

U.S. officials have not released a list 
of toe towns slated to receive direct U.S. 
aid. 


But a list of the Id towns chosen to 
receive World Bank funds was supplied 
this month to Congress, along with a 
statement dial the administration intends 
to direct toe U.S. executive director at 
toe World Bank to support the loans. 

In a letter to Secretary of State 
Madeleine Albright last week, 13 law- 
makers pointed out that five of these 
towns may be harboring as many as a 
dozen Bosnian Serbs indicted for war 
crimes by an international t ribunal. 

They also reminded Mrs. Albright 
that aforeign aid bill signal by President 
Bill Clinton on Nov. 26 bars funds for 
any communities not complying with 
the pro visions of die Dayton accord rc- 
tiie handover of war criminals to 


“The vast majority of 52 Serb in- rate. 


continue to live comfortably’ ’ in 
the republic, and the government .is 
openly defiant of the tribunal's author- 
ity, wrote the lawmakers, who included 
Senator Mitch McConnell, Republican 
of Kentucky, chairman of toe Appro- 
priations subcommittee on foreign op- 
erations. 

Until those responsible are brought to 
justice, “U.S. tax dollars should not be 
used to prop up their protectors,” the 
legislators wrote. 

Similar r ritirinm was leveled against 
the plan late last week by four inde- 
pendent groups in Washington that help 
monitor compliance with toe Dayton 
accord, including toe Coalition for In- 
ternational Justice, Human Rights 
Watch/Helsinki and the Balkan Iosti- 


t 


Flag-Waving in Bosnia 

Clinton Enlists Legislators on Troop Extension 


By Steven Erlanger 

New York Times Service 


WASHINGTON — President Bill 
Clinton is inviting congressional leaders 
to join him on a Christmas visit to Bosnia 
in an effort to build support for a con- 
tinued American presence there, accord- 
ing to senior administration officials. 

While Mr. Clinton has not formally 
decided that American troops will stay 
beyond toe scheduled departure date 
next July, the official says, he will do so 
soon. But toe decision seems so certain 
that he is seeking support even before 
ann o uncing it. 

The real debate inside toe adminis- 
tration now is over what toe mandate of a 
new international fence should be — and 
its size. The Pentagon, which wants dear 
instructions, also wants to ensure that the 
United States has enough troops in Bos- 
nia to retain an overwhelming deterrent, 
as it does now, with 8,000 troops. 

Mr. Clinton is to leave Sunday for 
Bosnia and arrive Monday, spending 12 
to 18 horns on the ground. 

Striking an administration theme 
about Bosnia, Mr. Clinton said, “A great 
deal of progress has been matte; a great 
deal more work needs to be done.” 

Mr. Clinton, who originally promised 
to have U.S. troops out of Bosnia at the 
end of 1996, and then by July 1998, wants 
to have as broad a consensus as he can for 
keeping American troops there, officials 
say. To that end, Mr. Clinton is inviting 
leading members of Congress, now in 
recess, to come with him to Bosnia. 

But toe White House just began to call 
key legislators Monday afternoon, and 
officials were not yet able to provide a 
list of acceptances or rejections. 

Congressional leaders like Dick 
Gephardt of Missouri, toe Democratic 
leader of toe House, would be invited to 
crane or to designate another member to 
do so, they said. Mr. Gephardt has op- 
posed the president on trade issues, but 
generally supported him on Bosnia. 


strict but doable sets of criteria that will 
let us draw down and exit. Exit strategies 
aren’t just dates, but most be tied to 
goals.” 

The North Atlantic Treaty Organi- 
zation is studying four options for a 
longer-term force: no new troops; a 
smaller “deterrent force;” tite recon- 
stitution of toe current force; a force like 
toe current one but somewhat smaller. 

The Clinton administration is sup- 
porting the latter two options, European 
diplomats and American officials say. 

Senior officials expect a new mandate 
to be like toe current one, and to involve 
roughly the same n umb er of troops, at 
least at toe be ginning . 

The Pentagon wants to have a high 
level of security if the mandate continues 
to include, for example, the return of 
refugees to areas of Bosnia they fled 
during toe civil war. Currently, there are 
about 30,000 NATO-led troops, includ- 
ing the 8,000 Americans. 

But in any new force, Mr. Clinton 
wants the European allies to contribute 
more. Washington has been pushing 
Europeans to support training of Bos- 
nian police officers and to consider 
prov iding p aramilitar y units, like the 

Italian carabinieri, that would need few- 
er heavy weapons. 



Bill Gets a ‘Buddy 5 

QinUm Names Newest Member 
Of the Family: A Labrador Puppy 


“If you want a friend in Washington, you 
need to get a dog," President Bill Clinton 
said Tuesday, quoting Harry Truman, as 
he revealed that his new pappy was named 
Buddy, after a favorite great-unde. Three 
days after being given the chocolate 
Labrador puppy, Mr. Clinton disclosed 
the name at an afternoon press 
conference. Baddy was the nickname of 
Henry Oren Grisham, a Clinton father 
figure who died in Jane. The president 
reveled m the guessing game before his 
announcement. Earlier he was careful not 
to let the name slip. “C’mon, kid do,” he 
said to the dog, who chomped on the Rose 

Garden grass. “Don’t eat that; you just 
had lunch.” On Monday, Hillary Rodham 
CUnton called the naming “an ongoing 
high-level effort.” There were -a lot of 
corny suggestions, like “Barkansas” and 
“Ark-n-paws.” Socks, the family cat, was 
reportedly reserving judgment “We’re 
working on that,” Mrs. Clinton said. 


Cmnt 


CLINTON: 

Praises Iran Overture 

Continued from Page 1 

all Mr. Khatami’s expressions of .mo* 

station, substantial power rraoMKmtoe 

hands of the conscr^tive spintoalb^ 
ttAyatoUah AJi Khamenei, tmd of toe 

•"rssMssa 

Sd “thr^t^s do” £ 

^Tfce president said die US. 
on Iran’s renouncing terronsm and halt- 
ing ail support fra- it would remain *un- 

C0 ^^^hesaid, “do I hope there wffl 
be some conditions under which this 
dialogue can resume? I certainly do. 

James Foley, a State Department 

with the Iranians. . , 

On the Asian financial crisis. Mr. 
Clinton sought to strike a reassuring tone 
without offering any specific new as- 
sistance to the economies, from Thai- 
land to South Korea, that have seen then- 
stock markets and currencies plunge to 
historic lows in recent months. 

“It’s very much in our interest to do 
what we can to sup port the Asian econ- 
omies as they work to weather tois 
crisis,” he said. 

The best way to do that, Mr. Clinton 
is to pursue the plan worked out 
by Asia-Pacific nations and o fficia ls of 
the International Monetary Fund and 
Worid Bank last month in Manila. 

That plan, he noted, calls far countries 
to adopt responsible economic and fi- 
nancial policies, for the IMF to lead any 
rescue programs in toe region, and for 
toe United States, Japan and other 
wealthy countries to provide support 
only within that context and as it be- 
comes necessary. 

“We may need to do more,” he said, 
but added that it should be done within 
die Manila framework, and on a case-by- 
case basis. 

He appeared, tons, to shrug off a call 
from nervous officials in South Korea 
for emergency U.S. aid to round out an 
IMF-led bailout that has grown to $60 
billion. 

The nine leaders of the Association of 
South East Asian Nations called Mon- 
day for greater efforts by major econ- f\ 
panes , including those or toe European " 


I 


Union. Japan and the United Stales, to 
overcome die crisis and deal with toe 
issues underlying it Bailout packages — 

NATO: U.S. Urges Alliance to Fight Spread of Nuclear, Biological and Chemical Weapons eminent reserves — totaling more than 


His spokesman said on Monday that 
Mr. Gephardt was in St Louis, Missouri, 
and has not yet addressed toe proposal. 

Mr. Clinton is expected to announce 
first a decision to keep some American 
troops in Bosnia, offering details later on 
the size and duties of the force. Several 
government agencies have been prepar- 
ing recommendations about what such a 
force should do and look like. 

Rather than setting a new “exit date," 
the administration intends to develop a 
set of benchmarks, officials said. 

One official said: * ‘This time we want 


Continued from Page 1 

Iraq to allow United Nations inspectors 
full access to all suspected weapons stor- 
age sites. But she stressed that toe Clin- 
ton administration viewed the Iraq crisis 
as a key test of die allies standing to- 
gether to defend their vital interests. 

While Europeans may believe Wash- 
ington is “too quick to pull the sanctions 
trigger,” Mis. Albright said Americans 
feel too often that toe United States 
“takes die heat fra- dealing with difficult 
issues while others take the contracts — 
that oar willingness to take responsi- 
bility fra peace and security makes it 
easier for others to shirk theirs.” 

France and Russia have been reluctant 
to back a tough international response 
against the intransigence of Saddam 
Hussein’s government. Both countries 
have signed future oil contracts with 
Baghdad and have pressed fra the re- 
laxation of sanctions. 

Mrs. Albright’s call fra toe North At- 
lantic Treaty Organization to expand its 
strategic domain deep into toe Middle 
East caught her colleagues by surprise. 


anniversary and, they hope, the fo rmal 
induction of the Czech Republic, Hun- 
gary and P oland. 

At a news conference Tuesday, Mr. 
Clinton urged toe Senate to ratify ex- 
pansion: “The United States has led the 
way in t ransf orming our alliance. Now 
we should be amotag toe first to vote yes 
for NATO’s historic engagement.’ ’ 

The NATO foreign ministers here 
signed documents Tuesday bringing the 
three natio ns into the fold, the last of- 
ficial step before the ratification process 
by each member parliament. 

Alliance military planners say the 
most plansible plan fra a continued mis- 
sion in Bosnia would be a force of 
15,000 to 20,000 troops, roughly half the 
size of toe existing farce of 34,000 sol- 
diers from 36 nations. Mis. Albright said 
that despite reluctance among many 
members of Congress, the administra- 
tion “will continue to do its share.” 

But she reaffirmed the U.S. insistence 
that the international police force there 
now, composed of 1,700 poorly armed 
gendarmes, be strengthened to assume 
Washington to celebrate NATO’s 50th ' some of the support tasks for civilian 


NATO countries have always been skit- 
tish about objectives or missions that 
stretch beyond their own territories. 

Hie British foreign minister, Robin 
Cook, said: “NATO has traditionally 
been concerned with the Euro-Atlantic 
area. That is where most of us see toe 
focus for some time to come.” and be 
cited Bosnia and other regions in Europe 
as NATO’s primary interests. 

But Mrs. Albright appeared to be lay- 
ing toe foundation for a new appeal for 
NATO to extend its zone of security as 
toe alliance prepares to consider a 
second round of expansion. 

“The United States and Europe will 
certainly face challenges beyond 
Europe’s shores,” she said. “Out na- 
tions share global interests that require 
us to work together with toe same degree 
of solidarity that we have long main- 
tained on this continent.” 

NATO ministers agree that the next 
wave of expansion, possibly to include 
Romania, Slovenia and other new de- 
mocracies, should be started in 1999, 
when toe alliance’s leaders gather in 


reconstruction that a scaled-down mis- 
sion will no longer be able to perform. 

She said that it was unacceptable for 
the Untied States to provide 90 percent 
of the money for training and equipping 
the Bosnian police when law and order is 
so critical to any exit strategy. 

European governments, however, re- 
ject the argument that they are shirking 
the burden. They contend they arc sup- 
plying 80 percent of the troops andpay- 
ing more than70 percent of thie-S? billion 
spent tins year on toe NATO force and 
toe reconstruction effort. 

In her speech. Mrs. Albright empha- 
sized how the Bosnian crisis had proved 
that a threat to Europe was a threat to die 
United States. But she added that an 
equitable partnership meant Europe must 
also acknowledge shared obligations and 
interests with the United States. 

“We are all members of an alliance, ” 
she said, “that makes toe security of toe 
people of Paris and Oslo and Rome an 
American interest and responsibility, 
just as it makes the security of New 
Yorkers and Los Angelinos a European 
interest and responsibility.” 



portant” that President Kim Young Sam 
had gained assurances from tire three 
candidates in the presidential election 
Thursday that they would support -the 
IMF plan. 

Mr. Clinton emphasized the impor- 
tance of U.S. economic health, and 
urged Congress, when it returned from 
toe holiday recess, to approve $3.5 bil- 
lion in additional funds to support an 
IMF emergency-bailout fund. 

The president welcomed the signing 
Tuesday in Brussels ofprotocols for the 
entry into NATO of Poland, Hungary 
and toe Czech Republic. The member- 
ship of toe farmer Soviet-bloc countries, 
he said, would “make America safer, 
NATO stronger and Europe more stable 
and united.” 

He also announced that die United 
States would hold a summit meeting in 
the spring of 1999 to welcome Hungary, 
Poland and the Czech Republic into toe 
North Atlantic Treaty Organization. 


CRISIS: ASEAN Can Find No Solutions to Currencies ’ Free Fall 


Continued from Page 1 

effort to arrest toe currency slide was 
urgent. 

But the Thai baht, the Indonesian 


amount to “at least” 16 percent of total 
Indonesian bank loans by the end of that 
year. This is double the estimated level 
of four months ago, when the rupiah 
started to fall rapidly against the dollar. 


rupiah and the Philippine oeso again hit (Page 13) 

record lows against the U.S. dollar on The three-day meeting in Kuala Lnm- 

pur grouped China, Japan, South Korea 
and toe nine members of ASEAN: the 
Philippines, Singapore, Thailand, 
Malaysia, Burma, Indonesia. Brunei, 
Laos and Vietnam. 


Tuesday, even after central bank inter- 
vention. Even the relatively stable 
Singapore dollar was hit, touching a six- 
year low. The Malaysian ringgit 
weakened to its lowest levels since toe 
currency was floated in 1973. 

South Korea took steps toward pleas- 
ing the International Monetary Fund and 
foreign investors Tuesday by floating 
toe won and announcing a series of other 
financial reform plans required under its 
bailout plan. 

In addition to lifting the beleaguered 
currency sharply against toe dollar for a 
second day. the won's flotation promp- 
ted a further rise of almost 5 percent m 
South Korean stocks. 

Government ministries also an- 
nounced that they would raise a 25 per- 
cent cap on interest rates to 40 percent, 
cut toe state budget, ease rules on mer- 
gers and acquisitions to make foreign 
takeovers easier and relax rules on share 
issuance. 

The steps are part of the terms of the 
IMFs $60 billion loan-guarantee pack- 
age for South Korea, and analysts said 
these should help persuade toe IMF to 
release further installments of toe pack- 
age. 

But the news apparently failed to im- 
press foreign bankers. who reacted in- 
differently Tuesday to Seoul’s plan to 
sell one of its two most troubled banks. 
Rumors of a possible sale had helped lift 
the Seoul stock exchange as investors 
hoped fra an influx of foreign cash to 
lend support to the shaky financial sec- 
tor. 

Also Tuesday, Indonesia’s troubled 
financial system was dealt a fresh blow 
when a leading international credit rat- 
ing agency wanted that loan defaults by 
Indonesian companies would soon rise 
sharply, putting banks under severe 
strain. 

Standard & Poor’s Corp. said that 
"non performing loans” — meaning 
credits that could not be repaid — would 
climb sharply in the first half of 1998 and 


It had been touted as providing East 
Asian answers for East Asian problems 
— without representation from toe 
European Union or the United Stales — 
but leaders came away from the meet- 
ings Tuesday with few concrete policy 
decisions. 

Japan, which in January had toured 
the region declaring a new era of 
“broader and deeper” ties with South- 
east Asia, on Tuesday offered little be- 
yond training schemes for workers and a 
marginal reduction in toe interest rate it 
charges to countries fra soft loans. 

The region's political superpower, 
China, reassured ASEAN officials that it 
would not devalue its currency. Region- 
al leaders fear toe possibility of a 
Chinese devaluation because it would 
erode toe competitiveness of their ex- 
ports compared with Chinese products. 


Japan also told ASEAN it was not in a 
position to tell private banks to “roll 
over” short-term loans extended to 
debt-ridden Southeast Asian companies. 
Countries like Thailand fear that many 
debt-ridden companies will not be able 
to make payments on foreign currency 
loans coming due in the next few 
months. Japanese banks have lent a large 
share of these foreign-currency loans to 
companies in Southeast Asia. 

In his concluding remaiks Tuesday, 
Mr. Mahathir said toe region’s problems 
were more protracted than previously 
thought. 

“There was a tendency before to dis- 
miss die problem and say bow strong the 
currencies of Southeast Asia are and tiie 
problem will disappear almost by ma- 
l “Now more people an- 


gle,” he said, 
derstand it is 


not going to disappear so 

easily.” 

He added: “In tins world, there is no 
equality. Might is still right” 

After months of daily attacks against 
the foreign press and currency spec- 
ulators, Mr. Mahathir was subdued in his 
comments to reporters, 

“I am told that it is my brashness 
which has caused all these problems,” 
he said. “So I’m trying to be nice, es- 
pecially to the press, but I'm not suc- 
ceeding quite obviously.” 


Soviet Spy Loses 
Bis U.K. Royalties 

Reuters 

LONDON — The attorney gen- 
eral of Britain won a court injunc- 
tion Tuesday to stop George Blake 
from receiving £90,000 in royalties 
from his bode about his years as a 
spy fra the Soviet Union. 

Mr. Blake, who became a Soviet 
spy in 1951 and fled to Moscow 15 
years later after escaping from a 
prison in London, has already re- 
ceived about £50,000 ($81,500) in 
royalties fra his autobiography. 

But a three judge panel ruled that 
Mr. Blake, whose defection led to 
tiie deaths of several British agents, 
should not profit any further from 
his crime. 

He disclosed secret information 
and documents to the Soviet Union 
from 1951, when he was captured in 
North Korea, until his arrest 'in 
1960. His 1990 autobiography, 
“No Other Choice,” describes how 
he was converted to communism. 

“The ordinary member of die 
public would be shocked if tiie po- 
sition was that the corats were 
powerless to prevent the respondeat 
profiting from his criminal con- 
duct,” toe judges said in toe ruling. 


Another prominent figure enlisted to it sSd? ^ "^vatr^h 

join in toe counterattack is Azhra Mo- Shirazi said of toe nrinrSu 
stafavi, toe daughter of Ayatollah ST 

Khomemi. In what was clearly intended believe Iran sh^L^ intoT ^^ 

establishment, lie toe Turkish system. 

But he said that he was confident that 
^^^mraiutmued to support toe 

EURO: Companies Begin Expensive Preparations for the Big Shift to a Single Currency 

Germany have announced plans The biggest benefectors of all the euro largesse are iSnStoed by 

3 in 1W9 to simplify the£ ac- programmers and other computer service exrenT&S- SSd.^f^lw C ? m * chol y dt y« 
icross Europe. aries in Britain for conmuter programmers with two Iran. 

But even a strategic decision like toat raises a host of years’ experience have Jumped to as hieh as £4fl f¥Yi A-fonH A „ T 2! have dared to 


IRAN: Crackdown on Skeptical Ayatollah 


Continued from Page 1 

post and that his primary aim should be 
to “supervise rather than role.” 

Ayatollah Khamenei — who under 
the constitution supersedes tiie president 
and has final authority over ail gov- 
ernmental affairs — has responded with 
a public campaign to discredit his critic. 

In a speech broadcast on state tele- 
vision on Nov. 27, be referred to Ayatol- 
lah Montazeri as a “politically bankrupt, 
pathetic and naive cleric who has taken 
an erroneous and clumsy stance against 
the spine of the revolution.” 

A statement issued by Mr. Khatami 
and his cabinet after the dem o n s trations 
in November waned “urged tiie public 
to remain vigilant in view of tiie recent 
incidents and 


But some pro min ent clerics have be- 
gun to signal that h could prove coun- 
terproductive to press too a ggr essively 
to punish Ayatollah Montezen, 75. j 
• Grand Ayatollah Shirazi, for one, Ap 
made it clear in the interview that he 
thou ght it would be a mistake to subject 
the dissident to a t rial. 

Ayatollah Shirazi emphasized that be 
himself re m ai n e d a firm supporter of the 
principle known as velayat-e-faqih, 
which since toe revolution of 1979has 
granted supreme power to a cleric to 
serve as God’s representative on earth. 

Until this summer any public debate 
<m that point would have been too sen- 
atrve. But Ayatollah Shirazi said that fo 
the wake of the challenge, which has 

bam echoed by some student leaders, he 




as a rebuttal to the suggestion that 
Ayatollah Khamenei was not qualified 
to hold his post, Mrs. Mostafavi was 
reported by toe official press agency to 
have declared that she had personally 
heard her father name his successor. 


Continued from Page 1 


Daimler-Benz AG of i 
to switch to tiie euro 



the subsidiuy of Japan’s second-largest securities 
firm, executives note that 70 percent of business is 
conducted in 

“The 

significant, 

Daiwa Europe. 

That attitude worries many European securities ex- 
perts. A U.S. mutual fund, for example, could suddenly 
find itself unable to trade its European bonds or stocks 
if toe custodian of that security, often a small U.S. 
bank, has not overhauled its computing systems to 
handle the security redenominated into euros. 

“You’ve got to have every link in the chain work- 
ing,” Mr. Bishop said. 

Outside of tiie financial services industry, many of 
big European multinational corporations such as 
Philips Electronics NV of toe Netherlands and 


bottom line, dial will demand far greater changes in 
computer raograroming and toe printed invoice. 

The scale of die changes and the need to tackle the 
year 2000 problem first has led International Business 
Machines Corp. to delay its full transition to the euro 
until 2001. 

“Our view is that the majority of firms, especially 
small and medium-sized ones, are going to find this a 
big dad, and one they're not going to be able to do 
Quickly,” said Peter Cruttenden, who is in charge of 
the U.S. computing giant’s preparations. “The amount 
of skill that’s around is finite.” 


£10,000 and a further 
year payable in March 


a 

tup to liamenL a liKmoe * ™ Pan- 

to £10,000 a Khatami defimdSo Sf I"?* 10 Mr * 

^ Cleric « right to 

had to look for *** 


‘Two years ago, you had to look for permanent aroundTv^L u 
vacancies” on behalf of job seekers, Mr. James said. fo 

rfow you don’LConq»nies phone around looking for qani - 'conn, non 

loSJFSJP*** has mar 

The number offjob vacancies in Britain m information hip ™ would have a verv 

“hnnlrxru hoe in ic Mali ac 1 /Y\ fWl — ■ ■ ■- . 5 Sod Dnlilin) I. . — ' 


has soared 

estimate, 
die run-up to 

industry in 1986, when banks and brokers scrambled" to 
overhaul their computing systems. 







INTERNATIONAL TfiraAT.n TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 


PAGE 11 


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INTERNATIONAL herald tribune, 
WEDNESDAY, DECEMBER 17, 1997 
PAGE 12 


A New, New ‘Boris’: Saving Mussorgsky From Himself 



By Richard Taruskin 


N EW YORK — When the Met- 
ropolitan Opera revives Mod- 
est Mussorgsky's “Boris 
Godunov” on Friday evening 
under the baton of Valery Gergiev, it 
will be introducing a new orchestration 
by Igor Buketoff to supersede tbe com- 
poser's original scoring, reinstated at 
tbe Met with a great deal of “autben- 
tistic’ ’ fanfare under Thomas Schippers 

in 1973. 

Why the backsliding? Is it backslid- 
ing? We are probably in for a new 

installment of an endless debate. 

Mussorgsky died of the effects of 
alcoholism just one week after his 42d 
birthday. Thus, although it is rarely 
noted or remembered, he was — like 
Mozart, Schubert, Chopin and 


Mendelssohn — a short-lived genius 
who had nothing bat an early period. 

He remained handicapped by a weak 
technique, which (whatever its effect on 
the quality of his work) made him la- 
borious and experimental in his creative 
habits, and kept him from finishing most 
of his larger projects. 

But with time, even Mussorgsky 
began to acquire some proficiency, and 
he moderated the extremity of his early 
“realistic” style. The revised “Boris,” 
completed in 1872 and performed in 
1874, was a far more conventional opera 
than its intransigent predecessor. 
“Khovanshchina' ’ and ‘ *The Fair at Sor- 
ochintsy,” the operas dial followed 
“Boris,” continued its path of recon- 
ciliation with tradition and reaffirmed the 
beginnings of professionalism, which 
had a good side after all Just on the point 
of death, Mussorgsky was arriving. 


And then, suddenly and tragically, he 
died, with both his later operas un- 
finished and with “Boris” m Umbo, 
unexportable to any other house than SL 
Petersburg's Maryinsky Theater. 

Mussorgsky’s friend Rimsky-Kor- 
sakov now stepped in, rompleting and 
revising his works, assuring their sur- 
vival and, in the case of “Boris,” even- 
tual triumph the world ovfer. That triumph 
came at a certain price to the composer's 
reputation, however. It meant acknowl- 
edging the deficiencies of his technique 
and the necessity of revision, which im- 
plicitly ratified die value, and the final 
victory, of the traditions Mussorgsky had 
once so proudly flouted. 

The Met has tried to toe a fine- line 
between the fashionably authentic and 
the practicable. In the ’50s, it used a 
version by Karol Radians, a Polish-bom 
composer then ou the faculty of Queens 


College, which was basically an ad- 
apted Pavel Lamm score, beefed up 
where necessary. 

. In the '60s, the ultra-beefy Shos- 
takovich version, first prepared in 1940 
for die Kirov in St Petersburg, was 
used. As noted the Met tried (and ad- 
vertised) the Mussorgs Irian straight and 
narrow in the '70s. 


B UT as Richard Woitach, the 
conductor who covered for 
Schippers, recently “con- 
fessed,” hundreds of individual 
spot adjustments were made in rehears- 
als, so that in the end what the audience 
heard was a virtual Rathaus score. 

Enter Igor Buketoff. An American of 
Russian ancestry, Buketoff, 82. is a con- 
ductor and archestnuor of long expe- 
rience and a recognized scholar of Rus- 
sian musk:. According to materials 


furnished by the Met, Buketoff’s dream 
of rescoring “Boris” goes back t o his 

teenage years, when tbe Lamm fiill score 

firet appeared He went through it with 
his teacher, Konstantin NBcolaievich 
Shvedov, an 6mign5 composer and 

church musician who, Buketoff says, was 
an “associate” ofRimsiky-Korsatov. 

Russian sources shed no light 011 fe® 
relationship between the two _ com- 
posers, who lived and wodsed in dif- 
ferent cities. But through his link with 
Shvedov, and Shvedov's with Rimsky- 
Korsakov, Buketoff claims a direct and 
uniquely q ualif ying line of musical des- 
cent from Mussorgsky himself. 

Be that as it may, the assertions he 
now makes on behalf of his restored 
“Boris” are dubious, to sty the least. 
Unlike the scrupulous Runsky-Kor- 
sakov, but like many performers and 
arrangers today, he wants it both ways: 


to claim that he has indeed 
improved Mussorgsky's .or _ 
chestration on the basis of his 
own superior practical know- 
ledge, but that he has also restored 
Mussorgsky’s origins) voice on the 
basis of his privileged insight into the 
composer’s intentions. . . 

Any arranger artless enough to be- 


lieve it, or artful enough to appreciate its 
value as hype, can make this safely. 


value as hype, can make this safely, 
unverifiable claim. Buketoff* who has 
freely conflated Mussorgsky with Rim- 
sky-Korsakov on the way to an ideal 
realization, is even less entitled to it than 
was Rathaus, who never made it All 
that he or anyone tan fairly claim is 
improvement: beauty, not truth. 


Richard Taruskin. the author of"M us- 
sorgsky: Eight Essays and an Epilogue, ' 
wrote this for The New York Tunes. 


Gail Thompson, Success Against the Odds 


B ERLIN — Gail Thompson’s 
personality has been called 
“florid” and “restless.” Born 
in Britain of Trinidadian par- 
entage, she dropped out of the Kings- 
dale Comprehensive School in Dulwich 
in the late 70s. After joining the Na- 
tional Youth Jazz Orchestra, she has had 
a career that, judging from her cur- 
riculum vitae, has been in overdrive 
since the ’80s. 

• Trustee of the National Jazz Foun- 
dation Archive; 

• Founded the Jazz Warriors with 
Courtney Pine; 

• Played regularly with the Charlie 
Watts big band; 

• Commissioned by BBC-2 to write a 
piece for and conduct the Midland Jazz 
Orchestra at tbe Albert Hall; 

• Became a member of tbe Arts 
Council of Great Britain's Music Ad- 
visory Panel; 

. • Accepted several commissions, in- 
cluding one for the Royal Opera House; 

• Made a six-month overland musical 
study-visit to Africa, and 
• Founded Musicworks, a music 
schooL 

Many of the above credits, no matter 
how impressive, do not involve playing 
music. They came after and because of a 
personal tragedy. She speaks quickly with 
a South London accent that is difficult to 


By Mike Zwerin 

International Herald Tribune 


And then . . . gone, all of it gone. 

"'I was supposed to go on tour with 
tbe Messengers, but I began to lose 
control of my facial muscles. I had MS. 
Thai was the roost unfair thing God 
could ever do to somebody. How could 
he do that to me? It was Blakey’s last 
band before be died. I mean, the only 
female Messenger. What a coup. I did 
three gigs in London with him, and then 
. . . and then Courtney Pine went off on 
the road instead of me. 

“I mean, I was ready. Td studied 
flute and clarinet at the Royal College of 
Music. MS affects your nervous system. 
I still have it, it won't go away. The 
shaking depends on your strength of 
mind, your diet — it depends on how 
bad your case is. Jacqueline DuPre [the 
classical cellist] died from iL But I’m 
not planning to die.” 

She laughs mischievously and looks 
you in the eye, daring you to contradict 
her. “I’m beautifuL” 

Seeing herself that way is part of what 
makes it true. Her dreadlocked hair fell 
out because of a “mistake” by a doctor 
“A big mistake. It wasn't supposed to 
happen.” She seems remarkably calm 
about it Growing back now, still close 
to the scalp at this stage, the hair frames 
her face handsomely. 

The eyes flash a winning smile as she 
describes how she kept from giving up. 
She started a music school in her front 
room. Now, 1 1 years later, Musicworks 
has 3,000 students in a converted ware- 


are welcome, even if they have not 
touched their instrument in 20 years. 
People can come here to get a degree or 
just rekindle.” 

There are some “for women only” 
classes because, she says, “women can 
be intimidated by men. I’m big and bold 
and I don’t give a damn. Nobody can 
intimidate me. Bur if you're petite and 
feminine, you won’t have a chance in this 
world. Certainly not fee music world.” 

Although, as she told Wire magazine, 
there are. not that many good women 
musicians around, on the other hand, 
she did not see why it should be nec- 
essary to have an all-woman band- 


cracked II I was playing with Art Blakey. 
I was fee first female Jazz Messenger. 


borhood school although there are stn- Le Black.” Gall Force performed under 
dents from all over Britain; “All ages an “African Roots and Visions” han- 


BOOKS 


THE LAST 
BARBARIANS 
The Discovery 
of the Source of 
the Mekong in Tibet 
By Michel Peissel. Illustrated. 
253 pages. $27 JO. Henrv 
Halt. 


Reviewed by 
Richard Bernstein 


T WO stories are told in 
“The Last Barbarians," 


A “The Last Barbarians," 
Michel Peissel’s account of a 
J994 expedition to Tibet to 
discover the source of the 
Mekong River. The first is a 
straightforward and interest- 
ing travel adventure by a 
French ethnologist who has 
been roaming the remote 
mountains of the world for 
four decades. The small in- 
ternational expedition be led 
to the source of the Mekong 
put him into the heroic tra- 
dition of Richard Burton and 
John Speke and fee other ex- 
plorers for whom finding the 
source of a great river was a 
kind of spiritual quest, an un- 
locking of one of the deepest 
secrets of nature. 

Peissel’s second story is a 


deems to be the last barbar- 
ians, the savage and noble 
peoples of fee Tibetan moun- 
tains and plateaus, a people, 
in his view, still unconupted’ 
and untainted by fee softness, 
the comfort, the materialist 
inauthenticity of civilization. 

“This was a world where 
men and women are still free 
to live out their destiny as 
nature intended,” he says of 
the area in China's Western 
Qinghai Province where 
some small streams form the 
upper reaches of the Mekong. 
“We Westerners, on the other 
hand, have lost the paradise 
that haunts our dreams, that 
Garden of Eden from which 
we long ago banished 
ourselves in fee name of com- 
fort, greed and maybe also 
laziness.'' 

Peissel’s account of his 
1 994 expedition into Qinghai 
Province is so intrinsically ex- 
citing than this story cannot 
fail to grip the reader's ima- 
gination. But even readers 
with a soft spot for yarns of 
hard, purposive travel will 
find “The Last Barbarians” a 
somewhat weakly interesting 
account Peissel, who speaks 
Tibetan and has made numer- 


what he did and what he saw, 
as when a young Khamba 
tribesman materialized out of 
fee endless plateau, riding up 
on a fine white steed, fes- 
tooned with religious symbols 
and other elements of local 
decoration, and then just as 
quickly galloped off. 

But Peissel is not more than 
an adequate stylist whose 
writing, except for rare oc- 
casions of fine and closely 
derailed observation, is not 
rich in description or char- 
acterization. More important, 
be is unable to resist the 
temptation to invest just 
about every experience he has 

rumination, , and he^comes 
across as a good deal more 
sweepingly sophomoric than 
wise when he does so. 

“There is nothing I loathe 
more than mediocrity, the 
hallmark of our Western civ- 
ilization, which long ago lost 
fee dynamic enthusiasm of 
our ancestors fee Greeks,' ’ he 
writes in a typical passage, 
unmindful, it seems, mat such 
a statement might exemplify 
some of tbe very mediocrity 
that he bemoans. 

Still, what makes this book 


I T is in talking about Tibet 
generally that Peissel elab- 


AgeneraJLly that Peissel elab- 
orates his theme of fee “Last 
barbarians,” with whom he 
identifies. The 


one. It is about the slow dis- traveled parts of Tibet, is ar his 
appearance of the people he best when he simply tells us 


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was able to get permission 
from tbe Chinese government 
to tread in places where al- 
most all other foreigners have 
been banned. Accompanied 
. by two European companions 
and a contingent from tbe 
Qinghai Mountaineering As- 
sociation ^including a cau- 
tious and sometimes obstruc- 
tionist Chinese guide). 
Peissel took a pair of four- 
wheel-drive Mitsubishis over 
fee plateaus of Western Qing- 
hai as far as a place called 
Moyun, elevation 15,026 
feet There fee explorers 
switched to a team of IS 
horses, led by a Tibetan guide 
and three muleteers. 


— as op- 
posed to city-dwelling 
Tibetans in fee capital of 
Lhasa — are in his view fee 
final holdouts against the en- 
croachments of fee sedentary 
way of life. “The last bar- 
barians of Europe,” Peissel 
writes, were the colonialist 
conquerors of the 19th cen- 
tury whose education had 
4 ‘taught them to despise com- 
fort, love effort and draw a 

very straight line between 
right and wrong.” In this 
sense, Peissel proclaims, 
“Maybe as one of them, I had 
become the last explorer, the 
last true barbarian.” 


New York Times Service 


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“I’ve got nothing against feminism,” 
she said “But I don’t see why. you 
shouldn’t use a man. It's not a novelty 
any more to have an all-woman band. 
The novelty now is to have a token man 
in fee band.” 

She has her own personnel theory, 
and she’s a good judge of character. She 
takes the best musicians she can find to 
execute the music at hand, regardless. 
The tend she conducted here for- fee 
Berlin Jazz Festival featured Hairy 
Beckett, from the Caribbean, on trumpet 
and Annie Whitehead, trombone; as 
well as sidemen from Germany. It was 
called the Jazz Africa Big Band. A year 
or so ago it had replaced her earlier 
formation, Gail Force. 

Germany has been good to her. Her 
record company, Enja. is German. In 
1995, fee city of Duisburg produced an 


ner. Abdullah Ibrahim, the Sooth Af- 
rican p ianis t, and Manu Dibango 's Soul 
Makossa bond from Paris were on fee 
samebilL 

If not for fee multiple sclerosis, 
Thompson would have been too busy 
making music to be able to drive 
through Africa with seven other people 
in a seven-ton Mercedes truck ana a 15- 
year-old Land Rover “We wanted ad- 
venture. We slept in sleeping bags or 
mud huts in the bush. We drove from 
Morocco across the Sahara on a sort of 
roundabout way to Kenya. I'm a great 
believer in self-education and 1 wanted 
to find out how these people got their 
sensibility. There’s music when a baby 
is bom; when somebody dies. When 
they work in fee fields there’s music. 
Music is not something to sit down and 
listen to, it's something to do.” 

She has started a promotional agency, 
organizing festivals in small towns and 
concerts in Lonclon’ssinaUervenHes. “I 
love my life,” she says. “It's busy and 
it’s free. I can be in front of my computer 
wife a cup of tea designing a poster at 5 
A. M. Then I go oat and help pat up fee 
poster. 

“People ask me how I do it. My 
mother instilled one word in me — 
fight- 1 was brought up that way. Right 
now I’m dealing with my conducting. It 
isn’t good enough. It's too intellectual. I 
want it to be more entertaining. When 
people try id bring me down, I just cell 
them to go away and don’t come back. 


There are many hours in a day, you just 
have to pick the right ones.” 


Bandleader Gail Thompson at the Berlin Jan Festival. 


Ptfrfck ninety. Wurit/PUy 


Equipped with satellite 
maps and a band-held global 
positioning system computer 
to determine elevation and lo- 
cation, Peissel’s group 
pressed westward to fee 
Mekong’s source through a 
fabulously harsh landscape in 
what Peissel, no friend of 
China’s repressive policies, 
calls “occupied Tibet” 

As he takes the reader from 
one lonely Chinese garrison 
to another, Peissel recounts 
previous efforts to locate fee 
source of the Mekong and 
Chinese moves to impose 
total control on the Tibetans. 
His account is partisan, Peis- 
sel being not just anti-Chinese 
and pro-Tibetan but also in 
favor of certain factions with- 
in Tibet, believing that the 
territory was sold down the 
river by those, including the 
Dalai Lama, who, in his view, 
tried too hard to accommo- 
date fee conquerors. 


Fidelio’ and the Flip Side 


P ARIS — Among composers’ 
first thoughts worth a second 
hearing is die- body of music 
Beethoven wrote for his only 
opera, “Fidelio." By the time he fin- 
ished, about a decade after he had be- 
gun, there were three versions of fee 
opera and four overtures feat are often 
heard in the concert hall. 

The production team of Patrice Caur- 
ier and Moshe Leiser and three theaters 
have joined this season in staging fee 
final version (at the Welsh National Op- 
era) and the first version (at fee Lausanne 
Opera) and in bringing the two together 
to be seen and heard side by side, as it 
were, in a series of performances at the 
Theatre des Champs -Ely sees. 

Whenever Beethoven rewrote, which 
he did a lot, he tightened, and fee final 
‘ ‘Fidelio’ ’ of 1 8 14 —r the one that holds 
its place in fee repertory today — is a 
good 40 minutes or so shorter than fee 
one first heard by a sparse audience in a 
Vienna occupied by Napoleon’s troops 
in late 1805. 

On the cutting-room floor were a 
number of conventional Singspiel-Iike 
scenes, and a lot of what remained was 
rewritten to the point, feu the whole 

enfrit nf thf* nrftrlr luqc franefnmvvi TKa 


By David Stevens 

International Herald Tribune 


miliar to the Viennese through fee op- 
eras of Cherubini and others. The final 
“Fidelio” is a flaming manifesto 
against tyranny and an ecstatic -testi- 
monial to conjugal love. 

There is no question which is fee 
better, musically or dramatically. Yet on 
successive evenings wife fee same con- 
ductor (fee excellent Louis Langree), 
the same orchestra (the Orchestra des 
Champs-Elysees, playing with period 
instruments), and the same basic set by 
Christian Fenouillat, it was “Leonore” 
that fared better. 

Maybe the dice were loaded. Tbe or- 
chestra sounded healthy and the period 
instruments appropriate for "Leonore” 
and anemic for “Fidelio,” and fee dif- 
ferent audiences reacted accordingly. We 
know that Beethoven was perennially 
dissatisfied with the pony Viennese pi- 
anos of the day , and it is not unreasonable 
to suppose feat he would have liked fee 
bigger sounds of modem instruments. 

And while the sloping stage floor was 
fee same for both, fee vertical arrange- 
ments were different and more effective 
for “Leonore, ' ’ as were fee stage move- 
ments and the conventional costumes 
for “Leonore” as against the modem 
dress “Fidelio.” Not to mention fee 
frontier justice meted out to fee evil Don 
Pizarto in. "Fidelio,” marched off the 


Overall fee two casts were evenly 
matched, although Elisabeth Meyer- 
Topsoe was fighting vocal indispos- 
ition in the title role of ‘ ‘Fidelio’ ’ while 
Susan Anthony’s Leonore radiated 
good health. Hubert Delamboye and ... 
Christopher Ventris were stalwart © 
Florestans, and the deeper voices were T 
those of solid veterans, Robert Hale and 
Hartmuc Welker the Pizarros. Kurt 
Rydl and Laszlo Polgar fee Roccos, 
Stafford Dean and Hanno MueLler-Bra- 
chmann fee Don Femandos. Elzbiera 
Szmytka and Mathias Zacbariassen 
doubled as MarzelLine and Jacquino in 
both, as fee richly sonorous Welsh Na- 
tional Opera chorus. 


fteAA «ii +A nr 


mLIvi ^ L. i fV. 


original (tided “Leonore*' by modem 
custom, to distinguish it from the final 
version) is a fairly straightforward, an- 
ecdotal “rescue” opera of fee kind fa- 


ensuing gunshot. Nor was fee lighting 
much help, wife Florestan’s dungeon 


B Y a coincidence of scheduling, 
the Orchestra de Paris contin- 
ued its Beethoven cycle under 
Wolfgang Sawallisch with, 
among other works, fee oratorio * ‘Christ 
on the Mount of Olives.” Beethoven 
wrote it just before the first version of 
"Leonore/Fidelio,” when he not only ^ 
bad living quarters in the Theater an der 
Wien, but was paying tbe rent by writing 
works that used fee theater orchestra and 
chorus at his disposal. 

It does not get much of a hearing these 
da ys, b ut fee hand of fee master is there 
intermittently in this first, hastily writ- 


getting as much candlepower as the sup- 
posed sunlight of the prison courtyard. 


r, o — — — — evil ivitJI, 

David Kuebler and Jan- Hendrik Rooter- 
lng were the fine soloists and fee or- 
chestra and chorus gave a full-voiced 
account of the work under Sawallisch 


CROSSWORD 


ACROSS 


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whaler 

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wear 

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so Noisy trains 
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35 Put some teeth 
into 

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villain 

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Rlng-taUed 

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42 Submarine, on 
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attendees 

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S4 Vituperated 

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discovery of 


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ballpark 

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Bible 


SoIntioB to Puzzle of Dec, 16 


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PAGE 13 


MTV Seeks a New Beat: 
Grow Up but Stay Cool 


and Heather Salerno 

Washing io„ Post Service 


•'i* NEW J!? R 5 — Al the ripe old age of 
•}*' s 9 r ]S* u “S ftwny seems to be coming 
over MTV, the U.S. -based cable channel 
of the young and relentlessly hip: It is 
trying to grow op. 

The network of "Beavis and Btm- 
head and the anythiag-goes music 
video is undergoing one of the most 
.extensive retoolings in its history. It has 
a new playlist, some new management 
.and a clutch of new programs — -in short. 
*a new attitude. 

i The makeover follows some pro- 
longed soul-searching by MTV’s top 
^executives, who are under pressure from 
•.the corporate parent, Viacom Inc., to 
[keep the network’s huge profits soaring 
'ever higher. In that regard, they have 
‘been asking themselves a question that 
i-inay have occurred to viewers: Is MTV 
[still cool? 

6 “We’ve had to challenge our assump- 
tions," said MTV’s president, Judy Mc- 
[Grath, who at 45 is by far the oldest of 
jthe network’s youthful cadre of senior 
'managers. She added, “We needed a 
(different tone, one dial maybe isn’t so 
j frantic, not so noise-driven.’’ 

. In what amounts to an epochal 
jchange, the network last month ended 
[original episodes of “Beavis and Butt- 
rhead,” its long-running — and often 
; MTV -parodying — cartoon about a 
i couple of moronic adolescents. It is also 


dropping “Singled Out,” the smirky, 

smutty game show. 

Among the recent entries are “Daria,” 
an animated cartoon about a smart, sharp- 
tongued teenager, and “Austin Stories,’’ 
MTV’s first sitcom, about three younger- 
than-Generation-X young people. 

The music videos, always MTV’s 
bread and butter, are changing, too. Out: 
gnmge — the brooding, Thate-my-Iife 
'sound that rose to popularity in the early 
1990s. In: mere upbeat pop, electronic 
dance and alternative music. Out: “MTV 
Unplugged,” the live acoustical perfor- 
mance show that will fade from view 
early next year. In: “Live From the 10 
Spot/’ a weekly performance progr a m 
that has featured the likes ofDavid Bowie, 
" foe Rolling Stones and Jane’s Addiction. 

The network still airs its share of 
titillating and controversial videos, but it 
has added some grown-up rock music 
commentary from the "veejay” Matt 
Pinfield. 

The network also is giving a weekly 
slot to “MTV News Presents," which 
focuses on youth-oriented social issues, 
such as heroin abuse and teen preg- 
nancy, and is overhauling “The Week in 
Rock’ ’ after a decade on the air. It is even 
considering adapting novels and other 
books as regular programs. 

“We’re going to try some insanely 
stupid things,” said Brian Graden, 34, 
the network's top programming exec- 
utive. “If you don't try to turn everything 
upside down, if you don’t take some 
risks, you'll never get real' greatness.” 



Appealing to Advertisers 

MTV viewership has grown 
modestly over the past few years, 
but its young audience continues 
to be a major draw for advertisers. 
Average number of 
households watching MTV 
(month of October) 

300 pOO 



100,000 


W '92 'S3 *94 % *96 *97 
Source: Ntefsan Marfa Research 


Indonesia’s Troubles Aren’t Over 

Standard & Poor’s Warns Loan Defaults Will Strain Banking Sector 


' MTV has European and Asian ser- 
vices, but they are programmed sep- 
arately, so not all of the changes will be 
reflected abroad immediately. For ex- 
ample, “Beavis and Bun-head” ami 

See MTV, Page 14 


By Michael Richardson 

international Herald Tribune 

SINGAPORE — In a blow to Indone- 
sia’s troubled financial system, a I< 
international credit rating agency 
Tuesday that loan defaults by Indonesian 
companies would soon rise sharply, put- 
ting hanks u n d e r severe strain. 

Standard & Poor's Corp. said “nou- 
performing loans” — those that are not 
being repaid — would climb sharply in 
the first half of 1998 and total “at least" 
1 6 percent of total Indonesian bank loans 
by the end of the year. 

This is double the level forecast four 
months ago, when the rupiah started to 
fall rapidly against the dollar. 

The U.S.-based company said that as a 
result, it might cut its credit ratings for 
three of Indonesia's four largest publicly 
traded banks because the collapse of the 
rupiah will make it more difficult for 
their corporate clients to repay foreign- 
currency loans. 

Indonesian companies have at least 
$65 billion in foreign debt, according to 
foe government, about $34 billion of 
which must be repaid or rolled over with 
the agreement of lenders within foe next 
12 months. 

S&P said that a “substantial portion' ’ 
of foe corporate and commercial cus- 
tomers of major Indonesian banks had 
foreign-ctnrency borrowings that were 
unhedged or underhedged. 

A scramble by companies for U.S. 
dollars to cover their borrowings and pay 


for imports has helped drive the rupiah to 
record lows in recent days, despite a 
standby loan worth nearly $40 billion 
that was arranged for Indonesia last 
month by the International Monetary 
Fund to restore currency stability and 
investor confidence. 

On Tuesday, foe dollar rose to 5,675 
rupiah from 5,550 on Monday. 

The currency has plunged about 58 
percent against the dollar this year, 35 
percent in foe past two weeks. 

Analysts said that further falls in the 
rupiah were likely because of doubts 
about government resolve to reform the 
banking system, increasing corporate 
difficulties in meeting debt repayments 
to banks and lingering worries about the 
health of President Suharto. 

Neil Saker, head of Southeast Asian 
economic research at SocGen-Crosby Se- 
curities Pte., said that because of the lack 
of confidence in the financial system, 
foreign depositors wanted their hard-cur- 
rency loans refunded by Indonesian 
banks; in turn, the banks were "hassling” 
Indonesian companies for repayment. 

He said that many companies were 
"technically bankrupt” because their 
effective loans were worth more than 
their capital and assets. 

“A lot of Indonesia’s banks will go 
under,” Mr. Saker said. “That will ex- 
acerbate the currency difficulties. It's go- 
ing to get worse before it gets better.” 

PT Bank Danamon, PT Bank Negara 
Indonesia and PT Bank International 
Indonesia were the three banks listed for 


sibie downgrade by St andar d & 
r’s on Tuesday. The smaller PT 
Bank Umum Nasional was put on foe 
same “credit watch” list. 

S&P said that 12 other leading In- 
donesian banks would also be included 
in a major review of the sector to be 
completed by the end of January. 

Shortly after the IMF loan was agreed 
upon, Indonesian authorities announced 
they were shutting 16 of the country's 
240 banks in what many investors hoped 
would be the start of a promised clean-up 
of the financial sector. 

But there has been no further action 
despite what analysts say is a clear need 
for further closures of insolvent banks 
and foe merger of others. Many of foe 
banks are owned or controlled by groups 
that have close ties to the government. 

"Having fewer but financially 
stronger banks is the only way to reg- 
ulate them effectively,” said Seema De- 
sai, regional economist in the Singapore 
office of Schroder Securities. "Unfor- 
tunately, it seems that crony capitalism 
is so deeply entrenched that even in a 
crisis situation foe Indonesian finance 
ministry and central bank, backed by the 
IMF and the World Bank, can’t enforce 
foe needed change.” 

Until midyear, Indonesian companies 
were able to take advantage of relatively 
low offshore interest rates to borrow in 
U.S. dollars and other foreign currencies 
in the expectation that such loans could 
be repaid at a rate of exchange similar to 
that applying when foe money was lent. 


; A Spanish Family Firm Scents Success as It Buys Haute Couture’s Ricci 


By Suzy. Menkes 

International Herald Tribune 


; PARIS — In yet another shake-up in 
the world of haute couture, foe bouse of 
| Nina Ricci has been sold by foe French 
■pharmaceutical giant Sanofi SA and 
bought by the Spanish perfume com- 
pany Puig Group. 

1 Puig, which is based in Barcelona and 
is one of the few remaining independent, 
family-owned fragrance houses on an 
international level, announced Tuesday 
that it bad taken control of Ricci from its 
owners, Sanofi and the Fuchs and de 
Kousmine families. 


Gilles Fuchs is president of Ricci. 

Layoffs among couture workers and 
decreasing revenue at Ricci — sales fell 
5 percent last year, to 1.1 billion French 
francs ($185.1 million) — had led to 
persistent rumors that Sanofi, which is 
controlled by die oil company Elf 
Aquitaine SA, was pulling foe unprof- 
itable 65-year-old couture house on the 
block, although sources in Paris say tills 
year’s figures are encouraging. 

Puig, which had revenue of $500 mil- 
lion in 1996, declined to say how much it 
had paid for Ricci but Mariano Puig Jr., 
grandson of tire founder and chief ex- 
ecutive of Paco Rabanne Paris, de- 


scribed it as a 4 ‘fair price.” 

Ricci will now be directly associated 
with Paco Rabanne, one of Puig’s suc- 
cess stories. 

* The Spanish parent has steered sales 
of the French coumrier's fragrances to 
riected 1997 revenue of 520 million 


Rabanne has taken a one-third stake in 
Ricci, with other Puig companies mak- 
ing up foe rest. 

The sale underlines foe reality of the 
modem couture business: that it is es- 
sentially about perfume, not clothing, 
and that only clearly focused, specialist 
companies with big bucks to spend can 


compete in the luxury business. 

Ricci's cash cow & L’Air du 
one of foe world’s perennial top 10 
grances, which is celebrating its 50th 
anniversary this year. 

Once foe sale of Ricci is concluded 
Jan. 8, Sanofi will have left in its beauty 
stable only one big star Yves Saint 
Laurent Paifums, which had sales of 
2.49 billion French francs in 1996. 

Sanofi ’s minor brands are the per- 
fumes of Fendi, Krizia, Oscar de la 
Renta, Roger & Gallet and Van Cleef & 
Aipels. 

In spite of foe fact that Sanofi has 
reported good third-quarter results for 


1997, with beauty sales up 6 percent in 
foe first nine months over the previous 
year, industry sources say that in the 
long term, Sanofi is likely to concentrate 
on its health-care sector. 

Industry sources say foe company 
might get out of fragrances altogether 
after its contract with Y ves Saint Laurent 
and his partner, Pierre Berge, expires in 
2002. 

Puig, by contrast, which has foe del- 
icate touch needed for dealing with de- 
signer divas and changing fashions, is 
looking to expand its upscale sector, 
which' includes the fragrances of the 
American designer Carolina Herrera. 


Although it has a mass business in 
soap, toiletries, personal hygiene and 
beauty products, it holds the No. 1 fra- 
grance position in Spain with 20 percent 
of foe market, ana it called Ricci a 
growth opportunity. 

“We see growth,” Mr. Puig said, 
“but at our own pace. We don’t belong 
to a big organization, and we have foe 
time and the will to go for the medium 
and long-term and to find foe potential of 
the brand.” 

Mr. Puig is one of foe third generation 
of a company that has been managed by 
the four sons of Antonio Puig. who died 
in 1979. 


Follow l 


Who Owns the Information on the Net? 

Critics S<xy U.S. Copyright Proposals Go Too Far in Protecting Media Giants 


By Denise Caruso 

New York Times Service 


NEW YORK — Will new copyright 
'laws destroy the global village to save it? 
' Delegates to the World Intellectual 
'Property Organization of foe United Na- 
tions. who last gathered long before the 
’Internet or even the personal computer 
reached global prominence, are now 
'convened in Geneva to decide whether 
to ratify controversial changes, to in- 
ternational copyright treaties. 

Intended to crack down on the flow of 
'unauthorized information over data net- 
works, two of foe treaties — dealing 
'with literary and artistic works, and with 
music recordings — were proposed by 
foe U.S. Patent and Trademark Office. 

The Patent and Trademark Office 
says its proposals are necessary to pro- 
tect foe financial assets of information 
providers in foe age of foe Internet. 

• But legions of opponents — including 
'the Library of Congress, which admin- 
isters copyrights — do not agree with the 
Patent Office. They worry that the new 
treaties, if adopted, would not be in the 
spirit of American copyright law, which 
was intended to balance profit against 
society’s need for information. 

Other critics fear that foe rule changes 
would make network service providers 
responsible for the legal status of every 
[electronic communication that passes 
through their systems. 

The U.S. proposals are not new. The 
Parent Office tried last year to win con- 


gressional approval for a set of similar 
changes to domestic copyright law, un- 
der foiled legislation called foe National 
Information Infrastructure Copyright 
Protection Act of 1995. 

But instead of retreating from that 
failure, the Patent Office took the matter 
to Geneva. “If this issue is placed in an 
international context, it certainly should 

NEWS ANALYSIS 

be more persuasive” to Congress, Bruce 
Lehman, commissioner of patents, said 
in a July interview. 

This unprecedented move as well as the 
proposals themselves have stirred con- 
troversy on both sides of foe Atlantic. 

For one, if foe treaties are ratified in 
Geneva, there will be no further pos- 
sibility of changing them until the or- 
ganization convenes again, which is usu- 
ally once every decade' or so. 

The proposals, critics say they define 
copyright violation far too broadly. Un- 
der strict interpretation, simply caning 
up a digitized image or article on a 
computer screen — the very act that 
defines browsing the Internet — would 
constitute creating a “copy,” even if the 
information existed only as electrons in a 
computer's memory, or was stored in a 
temporary bin on a viewer's hard disk. 

foe Internet, &en, everyone be- 
comes an infringer,’ ’ said Mark Radclxfie, 
a copyright attorney and co-author of The 
Multimedia Law & Business Handbook. 

The question of who would be re- 


sponsible for policing this new gener- 
ation of infringers is so troublesome to 
some American executives that last 
week, chief executives from 11 leading 
Internet, on-line and communications 
companies sent President Bill Clinton a 
letter protesting the proposed treaty. 

The result, foe letter said, would be 
sharply increased costs for Internet and 
OQ-hne services, less privacy for users 
and “reduced connectivity among ‘in- 
formation have-nots' in our society and 
throughout the world.” 

The main beneficiaries of the new 
copyright rules are foe higbest-stake 
copyright holders: rich, politically 
powerful entertainment and media con- 
glomerates, which fear that prated ma- 
terial will destroy the lucrative interna- 
tional market for products that can be 


Critics of the proposed copyright re- 
strictions ask: Why not put foe burden of 
protecting digital material on foe enter- 
tainment companies who profit from h? 

Many other forms of intellectual 
property, including movies transmitted 
over cable television networks, are 
already protected. 

In the di gital world, software compa- 
nies are already using various data en- 
cryption technologies to protect products 
for distribution over the netwoik. 

But if foe Internet is instead governed 
by overly broad copyright laws and en- 
forcement techniques, foe network may 
end up being a sarer place for “The Lion 
King” than for the people who use it. 





(Cross Rates 


Dec. 16 Libid-Ubor Rates 


Dec. 16 


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j dosing prices; New York i 

(FebJ 

Sootr? teuton. 


Global Private Banlcing 



ELY RECOGNIZED AS ONE 


OF THE WORLD’S SAFEST BANKS 



l imaJqmar l*** of Rapubbe 
National Barth of No v York 

(StuMoJ S-4. «■» Ci 


RepuLl ic clients are uncommonly 
perceptive people. They hnow we offer all 
the services of a modern, growth-oriented 
hanh. Yet ask any of them to describe 
Republic in one word - and that word is 
invariably: Safe. 

The main reason is that we have built 
RepuLl ic's global operations with client securi- 
ty uppermost. It' s why we maintain one of the 
strongest capital ratios in the banking industry, 
a high degree of operating efficiency and an 
excellent and diversified loan portfolio. Our cre- 
dit ratings are AA. 

Republic is now one of America's 25 lar- 
gest banks and one of Switzerland's largest 
foreign owned banks, ranked by assets. Putting 
safety first evidently makes a great deal of 
sense to a great many people. 



VarlJ IlcaJqnuriort of 

Jfrpn&liV .VdlMBfll H»( ,/ 
\W York m Net r lori. 


Republic National Bank of New York* 

Strength. Security Service. 

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Nuud * i'inj ■ 1 *opU JJ Is*! - * Rin Ja Iniani • Sntiidi * Sou I’ulo • Sindipaiv ■ fjJnty ■ T.ipft - Tokyo * Toronto • Zuriclt 


MEMBER FDIC 


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PAGE 14 



THE AMERICAS 


Investor’s America 


r.. . « vr /' 


The Dow 


Q-Year T-Bond Yield 



Dollar in Deutsche marks H Dollar in Yen 



: 1£5 


J A S O N D f. 
1887 

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Santiago 

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c Gap ife^Senwa; ■';? 

Source; Bloomberg, Reuters . latenudumi HecaU Tribune 

Very briefly: 


Soft Economy Fed’s Inaction Gives Impetus to Wall Street 

In Germany 
Helps Dollar 


it 


A< 


* f’ ub i 


S/oom6erj New 

NEW YORK — The dollar rose 
agains t the Deutsche mark and most 
other European currencies Tuesday 
after reports of falling prices and 
business confidence in Germany re- 
inforced expectations dial interest 
rates there are on hold. 

"The numbers say the economy 
is soft,” said Earl Johnson, an in- 
ternational economist at Bank of 
Montreal in Chicago. “There’s a 


FOREIGN EXCHANGE 


• Intel Corp. and Sun Microsystems Inc. said Sun’s Solaris 
version of the Unix operating system would be able to run on 
Intel’s next-generation Merced microprocessors. The latest 



• Citicorp was one of the two finalists in the bidding for 
AT&T Corp.’s Universal Card unit, according to sources. 

• AirTouch Communications Inc. has bought 5 percent of 
Airtei SA, raising its stake in Spain’s second-largest cellular 
telephone company to 21.7 percent, AirTouch said. 

• True North Communications Inc. persuaded a judge to 
block Publids SA’s hostile takeover effort while he decides 
whether the French giant's bid violates a partnership agree- 
ment between die advertising companies. 

• Chase Manhattan Corp. split the office of the chairman 
between Walter Shipley, the current chairman, and Thomas 
Labrecque, president and chief operating officer. 

• Honda Motor Co/s U.S. unit filed suit in federal court in- 
Denver to try to block die $82.5 million sale of the auto 
dealerships belonging to the Denver Broncos quarterback 
John El way to Republic Industries Inc. 

• Latin America had a record $45 billion in foreign direct 

investment in 1997, up from $34.5 billion in 1996, according 
to BBV Latin vest. Bloomberg. Reuters 


reduced prospect fer rate hikes. And 
that’s positive for doUar-mark.” 

The Federal Reserve Board’s 
Open Market Committee left U.S. 
rates unchanged Tuesday. 

The dollar, which has risen 16 
percent against the mark this year, 
rose to 1.7804 DM in 4 P.M. trading 
from 1.7760 DM on Monday. 

The dollar was unchanged at 
130.77 yen, as traders waited for 
signs that an economic stimulus 
package approved by Japan's gov- 
ernment would lift the economy 
from a six-year slump. 

In other trading, me won rallied 
for a second day after the South 
Korean government lifted restric- 
tions on currency trading, fueling 
optimism that the worst of the coun- 
try’s financial crisis may be eodinjg. 
The currency has risen 19 percent in 
the last two days. 

Meanwhile, the Philippine peso, 
Malaysian ringgit and Indonesian 
rupiah plunged to new lows. 

Against other major currencies, 
the dollar rose to 5.9659 French 
francs from 5.9495 francs and to 
1.4396 Swiss francs from 1.432$ 
francs. 

The pound rose to $1.6355 from 
$1.6335. 


Ou^Mlb/Our^ffFamDtMfKmiKS 

NEW YORK — Slocks continued 
to rebound Tuesday from a sell-off 
last week, buoyed by economic re- 
ports that indicate a growing U.S. 
economy with low inflation and by 
the Federal Reserve Board 's decision 
to leave interest rates unchanged. 

The Dow Jones industrial average 
finished up 53.72 points at7.976.31, 
with advancing issues outnumber- 
ing decliners by 4-to-3 ratio on tire 
New York Stock Exchange. 

Broader market indexes also fin- 
ished higher. The Standard & Poor’s 
50Q-stock index ended at 968.04 
s. up 4.65, and the Nasdaq 
Ite Index finished at 
1,553.01, up 16.45. 

Bond prices woe lifted by the 
news that the Federal Open Market 
Committee, the central rank’s mon- 
etary policy panel, would leave the 
benchmark rate on overnight loans 
between books steady at S^^perceuL 

It has been at that level since late 
March, when policymakers nudged 
it a quarter percearage-poiar hi ghe r 
to ensure that very strong economic 
growth did not result in increased 
inflati on. 



Growth has not slowed modi 
since then, but inflation has re- 
mained subdued. Any further in- 
crease now in U.S. interest rates 
probably would deepen Asia’s tur- 
moil by weakening the value of 
Asian currencies in comparison 
with the dollar, analysts said. 

“Their No. 1 concern is the fal- 
lout from Asia,” said Mark Zandi of 
Regional Financial Associates. 
“They’re not going to move as long 

flgian finunriat mai irftftg remain as 

fragile as they are today.” 

If not for Asia, many analysts say 
the F6d already would have sought to 
cool the U.S. economy with higher 
rates. Unemployment in November, 
at 4.6 percent, was at a 24-year low, 
and the scarcity of qualified workers 
propelled a wage gam of more than 4 
percent over the past year. 

On Tuesday, the Commerce De- 
partment said construction starts on 
homes and apartments rose surpris- 
ingly in November as building hit its 
strongest pace in nine months. 

Also Tuesday, however, the Labor 
Department reported that the con- 
sumer price index — die broadest 
gauge of costs fra: good and services 


— rose a smaller-than-expecied 0.1 
percent in November. That indicates 
an annual inflation rate at its lowest 
level in.more titan a decade. 

Fatting gasoline and transporta- 
tion costs accounted for the showing. 
Labor Department figures showed. 
The dosety watched core rate of the 


it bad ! 
for 


U^. STOCKS 


index, which excludes food and en- 
ergy costs, also rose 0.1 percent in 
November. In October, the index and 
core rate both increased 0.2 percent 


the maker of farm ^ 
agreed to bay Perkins 
abtat $1-33 billion. , . x 

Steady-growing co m pani e s, per- 
ceived as u S8fc M in the midst of * 
Asian economic turmoil, rose to re- 4 
cords. General Electric rose after- 
Chief Executive John Welch said 
late Monday that the company 
would increase ite cash holdings to 
about $5 billion in 1998 and stream- r 

line GE Capital’s operating costs. 

Micron Technology rose after re- _ 

■ — disappointing *»mm« 


:T,, lV off 






s» 


> A l 


r-rt* 
4 » 


well as the advent of money-saving 
technology and cheap imports, are 
restraining prices, analysts said. 

In another indication of the grow- 
ing economy, the American 
R anker s Association said the num- 
ber of credit-card holders who fell 
behind on payments declined in the 
third quarter 1 as banks continued to 
tighten leading standards. 


investors say. 
PepsiCo tell 


-.t 



gains, — 

Industrials, led by IBM.. Caterpillar 
led Dow losers, falling on news that 


repsu-u after an analyst far. / .. , . 

Morgan Stanley, Dean Witter, Dis- ? f ij ; - 

cover & Co. cut bis earnings es- ^ [?*... -‘ ” 1 't ' , 

timates for the beverage giant to; 1 
reflect increased advertising and..; 
marketing expenses. - . 

The price of the benchmark 30- 
year bond was lip 11/32 at 102 17/32, 
shaving the yield to 5.96percent from 2 
5.95 percent Monday. The two-year^ 
note yield — among the most sen- . . 


rose to 5.67 

Monday. /. 


it from 5.65 percent 
loomberg, Reuters } . 


RJR Nabisco to Cut 3,000 Jobs in Tobacco Unit 


Catqiflai by (Mar Stiff Fran Pbptaefer 

NEW . YORK — RJR Nabisco 
Holdings Crap., under fire at home 
and abroad for the health con- 
sequences of smoking, said Tuesday 
tfiar it was eliminating nearly 3,000 
jobs, or about 10 percent of its 
worldwide tobacco work force. . 

The bulk of the cuts will come 
from its international tobacco op- 
erations, where about 2,600 jobs are 
being eliminated. 

An additional 390 jobs are being 
cut in the United States at its do- 


mestic headquarters and at a 
cessing plant, both in North 
olina. The plant is to be closed. 

RJR said its cutbacks were part of 
a restructuring aimed at making its 
tobacco business more profitable by 
cutting costs and redirecting its 
spelling to where prospects are more 
appealing for selling Camels, Win : 
sums and its other cigarette brands. 

The cuts crane a week after Philip 
Morris Cos., the world’s leading to- 
bacco company, announced it was 
eliminating 2,500 jobs from its in- 


ternational food business. 

- Steven Goldstone, RJR Nabisco 
chairman and chief executive, said 
the restructuring would result in 
savings in excess of $170 million a 
year starting in 2000. But the wove 
will result in one-time expenses that 
will reduce RJR’s earnings in the 


fourth quarter by about $310 mil- 
r95 cente 


a share. 

y’s had its prob- 
3avenport & Co. ana- 
axweUL “1 


lion, or 
“The 

lems,’’ said 
lyst John Maxwefl. “Every year 
they’re writing off something, and 


changing something.” 

Internationally, the reorganiza- 
tion also includes changes .in dis- , 
tribution and the disposal of non- ( 
strategic assets, the company said. ■ 
A company spokeswoman said , 
RJR plans to have the bulk of these' 
moves completed by the. end of 
1998. The spokeswoman said she 
did not know in what countries the 
layoffs would take place. 

Shares in RJR Nabisco closed' 
Tuesday in New York at $36.25, 
down 12.5 cents. (AP, Bloomberg) 


i 


MTV : As Audience Changes Outlook, Hip Cable Channel Seeks a Way to Grow Up but Stay Cool 


Continued from Page 13 


“Singled Out” will last longer in 
Europe and Asia before fading out 
Some, but not all, of the new shows 


Boeing to Cut Jetliner Work Force 

Bloomberg New 

SEATTLE — Boeing Co., after two years of straggling to 
hire and train enough workers to meet demand, said Tuesday 
that it planned to cut employment at its commercial airline unit 
by 1 2,000 jobs, or 10 percent, mostly by attrition. 

The company also said it expected to have completed a total 
of 335 jetliners for delivery in 1997, although some customers 
may not actually take possession of die planes this year. 


wiU^bepicked up overseas. 


’s evolution — a matter of 
keen interest to the $12 blUion-a- 
year record industry, which needs 
the network to promote its products 
— may say much about the state of 
America’s youth and die pressure on 
MTV to change with h_ 

Since its inception, MTV has both 
reflected and' shaped the mood and 
fads of the “MTV generation,” 


primarily 14- to 24-year-olds, its 
core audience. 

While generalizations are always 
suspect. MTV executives suggest 
the youth market’s cultural baro- 
meters generally are painting away 
from Generation X alienation to a 
tighter, brighter and more tradition- 
al outlook. The improving UjS. 
economy may be nudging it that 
way, they said. 

MTV is changing its tone at a time 
when its Nielsen ratings r emain rel- 
atively healthy and its -coffers are 

b rimmin g 

The network is a cash cow for 


Viacom, the media and entertain- 
ment conglomerate that also owns 
Blockbuster Video, Paramount Pic- 
tures, and the Nickelodeon and VH- 
1 cable channels. MTV had an op- 


erating profit of about $200 million 
in 1996 on re 


i on revenue of $430 million, 
according to Panl Kagan Associates, 
a cable industiy research firm. The 
firm estimates that MTV’s revenue 
has nearly doubled since 1994. 

A strong ad market and rising fees 
from cable TV operators were the 
mam reasons for MTV’s 46 percent 
profit margin, but MTV also benefits 
from having a cheap supply of pro- 


gramming. It gets most of its videos 
from record companies for free. 

While MTV’s audience has not 
grown much — fewer than 300,000 
households tune in on" a. daily basis 
— its heavy concentration of young 
viewers continues to make it a 
darting among advertisers. 

But MTV is under the gun to do 
even better. With Viacom’s Block- 
buster chain staggered by losses and 
write-offs, and its Simon & Schuster 
book-publishing arm growing only 
slowly, Ms. McGrath and Mr. 
Taffler acknowledge that MTy and 
the company’s other cable TV net- 


woiks have to be the locomotives 
pulling the corporation. . 

“There’s no doubt this is a dif- 
ferent MTV,” said Jeffrey Flatbers, 
a media analyst with Paul Kagan 
Associates. “The issue confronting 
them is who is their core audience, 
and which programs are indispens- 
able for serving that audience. ” 

In fact, MTV’s shift carries some 
risk. Whereas sitcoms and other en- 
tertainment shows usually draw 
higher ratin gs than music videos for 
MTV, the strategy could turn away 
viewers who simply want more mu- 
sic from their MTV. 




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AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Tuesday's 4 P.M. Close 

The 300 mast traded stocks of the day, 
up In the dosing on Wall Sheet. 

The Assadmd Press. 


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4ft 

9» 

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CneMan 

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m 

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19*1 

1SV 

lift 

ion 

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onvffi 

m 

•- 

?*k 

7fa 

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3U 

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9*4 

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cncP 

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sift 

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71k 

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CmcPB 

w 

lift 

17ft 

19 

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KCnwL 

uo 

1* 

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cnMm 

1U 

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9ft 

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uiritann 

607 

4 ^ 

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30 

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ops Ik* 

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73ft 

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Is 

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7ft 

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Dftasoi 

121 

n 

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1744 

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9ft 

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orywia 

33 

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12 M* 

1JJ 

1(7 

ink 

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10k 

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EcttEW 

EFwft 

113S7 

7ft 

211 

ara 

•ra 

7SS 

71% 

TVk 

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Eamri 

ins 

ft 

*» 

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EmoCn 

177 

1ft 

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ElMM 

111 

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4ft 

6k 

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EnWB 

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15*4 

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Ufa 

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314 

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17ft 

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«1 

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7W 

7ft 

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7%k 

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7U 

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19ft 

a 

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nr 


4394 

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UK 

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49k 

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2Pk 

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m 

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ua l» um ar» Indexes 


Most Actives 


Dec. 16, 1997 


Ugh Law Later Cbge OpM 


Mgh Law lutet dig* OpM 


High Law Latal Chge OpM 


i»k 

1 

M 

m 


Mth 

21U 

20V, 


n 

M 

i 

n* 

7 

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ft 

2V, 

U 


m 

34ft 

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m 

» 


M 
lh 
I2U 
41 <4 
Ilk 
II* 

■ti 


n> 

m 

M 

I 

« 

IV, 

»• 

Mt 
<te 

m 

27k 

n 

23V» 

»* 

Wk BHk 

IS* 1 

4H « 

1 

M 

3»i 

Ilk 

SVk 

a 

5k 
Ik 
1W 
im 
41 
Jtk 
1» 


Dow Jones 

Opn MU La* low 

Uu 7M0.V4 B19J2 mtSf 777U1 4! 

Time HUH 32893* 324745 325S47 • 

UU XUE 2 MM 20X1 MM 

Canp 240833 241834 259855 2404^3 

Standard & Poors 


NYSE 


Hltfl Law UM Cbg. OpM 


*»» !; 
-W Ti 


4ML 

ndusMab H1SJT 1101 JO II 1223 1119SS 


1S<k 

91k 

2»k 

ink 

T* 

2TVI 

1 

91k 

9’l 

U1 

l». 

Oh 

n»k 


■u 

A 

15k 


3 

n 

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Ml 

II* 

5*4 

S 

!*. 

3%k 

m 

IBk 

4I«* 

Ilk 

119k 

9k 


ramp. 

U (Utie5 

Finance 

SPOT 

SP1C0 


4WJ5 68P40 S9461 48404 
224.50 221.14 22441 22CS2 
119J0 117JS 11935 11BJS 
9isM 953J9 96X39 96104 
460.77 454A4 457JS 46245 



104470 57H 
48524 3599 
4*487 14 

MSS 3S 

50401 749. 
45753 105M 
45114 4S*k 
42409 9A 
42407 221k 


vZIk 

rift 

+1V. 
+ lVk 


mi 4i w. 

34400 TIM 
32151 4M 


22 834* 

42 V, 44 V, 

24H tns 

44 V. 45*k + W 

— - -mm 

*T»» 
. _ +14* 
■ m +19* 
«tVk -v. 

i*nvw iiVk 

40M 4J99 


now 


+4W 


Grains 

CORN (CHOT) 

SOOObuniMDwm-OHCipsf bush« 

Dec 77 263 257 2S7M 16 £178 

Morn 273K 27m* 271 176183 

K n ism 7jm Tim -u, exm 

I 2961* 283M 284 4* 5&V65 

Sep 98 28195 739U 27911 H S624 

Dec 98 283 281 281* -H 31439 

JUW 295 294 2W -Vi 32D 

ESL tee* 50000 Man iota 61228 
MODS apai W 32M42. OR tOU 


ORANGE JUICE (NCIW 
l&OOOte'-caimperfc. 

Jan 98 91 JO 8703 sacs -2J0S 11271 

Mo-98 90S 9050 91 JO -235 20416 

Mm 98 9735 900 95.15 -1JC 4AM 

MR 9905 9830 98J0 -105 1853 

E* Sim NAiWon Hlw 11.665 
MOIK opw) ht49J77. up 17* 


W-YEAR FRENCH GOV. BONDS (MAT1F) 
RP5000QO - pt» o< TOO pet 
Dec 97 WI36 KHJM 101.16— 0A2 22384 
Mar 98 HKL56 10056 10056— 066 140.750 
Jim 98 10056 10056 10056 —006 112 

' EsL wtee 53.976 . 
open tat: 16&148 OR S»381. 


MW 99 9SJ2 95J7 9*31 INidj. 8*512' 
Est sofas: 38*47. Pnw.ste*: 73.99* 

Pnw. apan ML- 627,704 up 17,781 


tarityDec. 16 




i; i «.%. «u . 
■ — s « 


e? 

3 C 


r NYSE 


Nasdaq 




Nasdaq 


it* 

lsn. 


Itk 

M 


2k 


M 4U A 


Ilk 

m 
n 

22H 

H 

« W1 
W 1»l 

iw wvk 
iwi lh 

2 in> na 

21 Vk SBl 

11-* W* 
W 4D 
» 

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1« 

Ilk 

?H 


*W 

-IH 

4* 


|jtdgnBN 

EKE* 

rlRNRE 



W M3* 24X41 
104434 103874 


m -'a 

7t BM +24* 

‘ znj +i* 

_.*« ife 

CM P +37W 

2B6 Wk 20Vk t«k 
sum 47*4 5716 62H +6H 


SOYBEAN MEAL flCBOH 
100 km»- dotes par tan 
Dec 77 21870 21*80 216.10 -160 &5« 

Jon 98 21S5D 21 (LSD 71070 -)-4> 27J46 
Mar 98 21030 20730 30770 -1.10 34J03 
Morn 20050 20630 20630 4UD 20600 
A* 98 209 JO 207 JD 207441 ^040 15JZ7 

Aug 98 20970 207 JO 207 JO +0.10 4453 

EsL late 24000 Man's ades 34759 
Mon span W 11MC, off 1,126 


GOLD CNCM30 

100 bw olt dotes per taw at 

Dec 97 28600 28280 2*340 -1.10 538 

Jan 98 284.10 .130 2 

Fib 98 287 JO 2*110 28540 -IDO 102373 

Apr 98 289 JO 28690 287JB0 -1.10 12083 

Jan« 291.10 28900 289 J)0 - 1.10 11^98 

» ;98 292JO 291450 291 JO -130 5340 

98 miD -170 1443 

Doc 9* 27740 29110 295.10 -U0 1X581 

F»99 ' 297.10 -130 X792 

Ett. wtes 42JOO MOM arias 26720 
Mom open M187J0X off 4168 


ITALIAN GOVERNMENT BOND OIFFE) 
m.200 Mitel -pb Ofiao pd 
Mar 98 11X64 11533 11553 +OJJ1 116348 
Am 98 N.T. N.T. 1149S +031 51 

EsLaNec rum. Pte.s tea: 26734 
Picv. opw ML- 116801 off X5«4 


LIBOR 1 -MONTH CCMEH} 


Industrials 

cormmmcnn 

5X000 *».- ends ihtRl 
M ar 98 6695 6600 6612 

MOV 98 6035 6740 4744 
JMM 6940 4830 6UD 
009* 7130 70M 7X80 

Dec 98 7230 7175 7173 

EtL arias fLA. Moira sate 1X143 
Mem open W 8938X up 1,947 




-026 44617 
-034 1&2C 
-036 16398 
-018 11,9*1 




S3 mtatan- ok of 100 pd. 

*429 9430 9439 Wldv 21439 


Jan 98 _ . 

Fob 98 9437 9426 9426 unch. 1X197 

Mar 98 9432 9431 9422 andv. 2475 
EsL sate X792 Mom aria 14130 
Man apsa M 57.896 op 91433 


SOYBEAN OIL(CBOT) 

6X000 In- cants par lb 
Doe 97 2472 2433 2451 uadi. 

JanM 
Mar 98 


2490 2468 2449 +0JJ1 36615 
2537 2SJM 2544 +002 30072 


Maj98 3540 2423 2537 +006 14606 


2555 2535 2540 +008 1X112 
2450 2430 2530 +008 3372 


Z7N 

n 

2B-1 

V. 

la 

2S‘, 

« 

If. 


Fi 
n 
2ft 
2+k 
4 ft 

3ft 5ft 
Fk 5ft 
36 ft Mr. 

“k va 
I 1 
25 ft 2531 


•IT 

•ft 

to 

4k 

•0k 

•ft 

•Vk 

4k 


AMEX 
Dow Jones Bond 


«o* u»r o. AMEX 

64944 46495 6 * 88 * +341 


Aug 91 

Est aate MIM Mam sate IU*7 
Mows open tat 10X1 39, op 1350 


20 Bonds 

lQUMSes 

ISfnAis&tab 


10411 10 TWA_ 

10273 1C .. 

10749 107X7 



Im fi»k 3i yk 33n +in 

\ 8 »I£ + SE 55tf 

IMU nft lira TiS is Aug 9) 


» 

MC 351ft 
9644 2l*i 


^ 2ra 


& 

+ra 


SOYBEAMS tCBOT) 

4000 Iwrntatann- amts porbwM 
Jon 90 mb 68Sft 686 -» '56415 

Merge 694 6*6 686ft 

. 497ft 691 691ft 

JiritS 701 495 495ft 

Aug 98 69* 692 <93 

Est Mias JX000 Mon rate 6U57 
Mom opon tal 156981. offlW 


HI GRADE COFFER 0KMQ 
TSfiOO la.- cants per to. 

Doc 97 79.15 77 JO 7745 -1.15 

J* 9* 79 JO 7835 7425 -IDS 

Feb 98 7970 78JIS 7845 -a95 

Mar 98 8075 79.15 79JS -035 

Apr 98 HUBS 8000 *080 -0.95 

May 98 8170 SX25 KUO -090 

Jon 98 8980 JH® 

Jut 98 8X50 *135 *135 -CL8S 

Aufl M 8*40 8140 BUB -090 

EsL stria 1X000 Mam sate 4407 
Mam apsw tat 67X6X op MB 


1329 

332S 

1369 

34306 

1X99 

6M6 

1X15 

3706 

1371 


FW9B 
Mar 98 
Jan 98 
Sep 98 
DscW 
*tar99 
Jim 99 
Sap 99 
Doc 99 
Mar 00 


EURODOLLARS (CMEU 

*1 

94.19 undL 4229 
9418 9416 9417 UKA. 49345B 

9418 9414 9416 unch. 390253 

9414 9410 9413- nodi. 264191 

9407 9403 9405 HKtL 224151 

9407 9403 9406 undL. 161 JSO 

9407 9400 9403 ondl. 134724 

9406 9X97 9400 anch. 9X623 

9X95 9192 9194 ondL 101J92 

9X97 9193 9376 andL 7X850 

Est. sate 296887 Mom Mas 32602S 
Mam Opsn M 2J24J69, up 5&84S 


-2ft 37765 
-1U 24045 
■1 24251 
4-1 1232 


nts per buy ox. 

57MO 59130 +450 


Ik Trafing Activity 


m 

140k 14V, 


5 NYSE 


Mt 


Nasdaq 


usawnoed 
->k TaSal IbuSS 


1731 16 

1255 13 

mr 


WHEAT CCBOT) 

4000 bunriabnuai-csris par bwM 

Dec 97 332ft 330ft 331ft +2ft 112 

Mor 98 345M 342ft 343 +ft 5S142 

Maw98 353 350ft 3S» +114 11744 

MM 358 335ft 354ft +1M 1X077 

EsL sate 14000 Mum sdss 16645 
Mam open M 89X86 up 500 


SILVER CNCM70 
4000 buy I 

Doc 97 59400 .... 

593JJ0 58X00 99X00 +400 
99500 +5J0 
999 J10 581 DO 596J0 +600 
598JM 50000 59450 +420 
59450 SUM SUM +4 00 
5957D +400 
99600 591 DO 59430 +400 
EM stesIMOO Mam sate 10607 
Morn open Ira 9X94L up 697 


Fob 9* 
Star 9* 
Mar 98 
MR 
5 


590 

32 


6409 

808 

4M7 


NfiTtHf POUND <OHER) 

6X500niundb S pv pound 

Mor 98 ijaio 1X202 1X296+00048 3X893 

Aw 98 1X226+0D048 1765 

Sep 98 L6I5B+X004B 4 

&t sate 9. 140 Moat sate 21502 

Mom apsa H 54622, up n 82 


HEATING OIL (NMER) 

4X000 gal cents par gal 
Jpn 98 5270 51.10 5179 

FWl 98 5X45 51X5 52D6 

Mar 98 5X60 5150 5271 

Aor98 52D5 5160 51D1 
Mdy 9* 51-55 5130 5171 

■tel 98 51 JO 51.11 51.11 

Jul 98 JITS 51 J] 5171 
EsL sate NX. Mam sate 71.997 
Mom open H 147714 off 1468 

LIGHT SWEET CRUDE (NMER] 
IDOOUL-dataipsrbbL 
Jan 98 1875 17.97 

Fd>98 18X5 1870 

M»4B 1862 1X40 
Apr 98 187* I860 

“nrM 1X91 1X75 

■tel 98 1X99 1X84 

Est. arias HA Mont sate 8 L 55 a 
Mom opcsi tat 43X47X 00 X445 

NATURAL GAS (NMER) 

1X000 imobbra. tj wrn ~ 


-022 

11685 j 

7 1 . •• • 




. i-« . ; 



.:• 




1 

1 - 



rt 

1^ - 

' ' 

+068 

4X966 + 



-0.03 

3W» i 



-063 

1X870 


* 

-063 

*»■!' 

■ 


-0.03 

8665 t 

1 . ' 


-0.08 

10346 



■063 

X131 k 

. 1 ; 

• 


...'M 


• -.-alfr 


X* MW 


1X17 undL 66875 3 
1X37 +4UQ 101,969 


18-56 +X02 41.197 i 
1X74 to rn 26637 a 
] 8 J 8 + 0,12 20606 ■* 
1X96 +003 36433 * 

.U 


.wriok-- 


naablu tA\*i 

XfK+OOW 4L338 


]*• 


ft 


w 

h 

Vk 

r 6 

TV, ] 

73>l 21 

25V, 7/V, 

ISO. WO. 

6 ft 
ft 


^ 1 


9k 


AMEX 




4K 

2714 

116 

M 

r? 


ft si» 


147 171 

2s n 

V TJ 


fcaoi^ES 

NBrHWB 

niwUms 


1 

55 


Livestock 







CATTLE (CMERI 




Market Sales 




4aa» te- aaats pw Dv 








DM97 

6X37 6X75 

(X17 

+0l72 

X30S 


Ttaky 


rw«. 

Fob 98 

6X17 (545 

6 (J 2 

+060 

50034 


MS 


r - ho. 

Aprs* 

69J5 (093 

(9.12 

+060 

2X629 

NYSE 

62967 


72021 

Jan 98 

6875 (860 

(867 

+0L30 

13350 

Aiuac 

3X10 


4X50 

A aara 

69 JO 49.55 

HIM 

+ai 2 

3540 

Nasdaq 

73X61 


79X57 

<3*398 

7X31 7200 

7117 

+037 

L614 


PLATINUM (NMER] , 

50 Nw at- dates per tnw ob. 

Jan 96 34970 33960 34060 - 1 M 0 

Apr 98 34460 339 JO 34X10 -117* 

JuISS 34450 33960 33960 -1X40 

OdBfl 34X00 32960 33960 -960 

.EsL arisa NA Mam sate X113 
Mam span teMMX ap 8 U 


1X336 

4,196 

315 

1 


InmfSans. 


TVk 4'.k 
I7W 7Ft» 
104 10*t 

ft ftk 
>ft 


Est saiai 1&347 Mam sate 2X593 
Mow apM M N4tt 00 L472 


LONDON METALS OME) 
DoHars par antic tan 
Msntaan Oflgb Gnrik) 
Soot l^» 14941* 

Fanml 153X00 I STUB 

m 9ST » 

178760 176X00 


151400 151 570 
I S<WJ0 1541.00 


1W 


v» 

Sft 

n 


ft 

r* 


-ra 

-ft 

♦v. 


Dividends 

Company 


Par Ant R*e Pay 


74 


IN 

ft 

7ft 


1ft 

*1 


r» 


IRREGULAR 

_ 60512-26 1-28 

- D9 1-30 3-12 

_ .09612-22 1-16 
b 6A2S 12-30 3-16 

- ,M 12-16 1MB 

- 41112-31 149 


ira 

lft 

Wkk 

ona 

m 

id 

14ft 


Tafltt* 

TtanUMs 

Tterad 

SSS5 

mono 

TMta fl 

sw 


Jft 

*!) 

356k 

zm 

4Sft 

n 

iS 

M4 

12*1 

3Jft 


Ift !'■ 
lft 1ft 

9M 97 k 
«»• Uft 
12ft I2>‘ 
ift m 
IS* 15k 
Sft Sft 
Tft Ift 

ttk fft 
25ft 25ft, 
Mft 77ft 
456 .m* 

Bk W 

Vi ■ 9ft 


TiteW 


Sft 

12ft 

Oft 

1ft 

lk 

n 

HO. 

15ft 


lift 

274 

lift 

IT, 

nk 

9ft 

s 

IM 

23ft 

1ft 

Ift 

7ft 


lift 

24ft 

Si 

"te 

Sft 

lift 

21ft 

1ft 

lk 

ira 


-ft. 

•ft 
4ft 
-ft 
to 
-'•k 
**1 1 
-n. 

-ft 

-ft 

•Vk 

•2ft 

*ra 

•ra 

•ft 

-Vk 


Boskn 

Coble 

K»ralJKfS5? 

ScatnshPwADS 
Taftrai Ti' 

TdOfUnrarr 

STOCK SPLIT 
CaraUnoSflnBk3fbr2spBL 
Craig Cap 1 ttm of dan A Sir each share. 
King WOndZforlspflt 
stock 

InflAssstsHow - 10% 12-36 

Sitmt Water . 9 % 1.2 

INCREASED 

72 1-13 


Caavany 

8 & 


PflltaD 

PTInco 


Per Ant Hoc Pay 
M JM* 12-24 12-31 
M JH1 1X24 12-31 
SPECIAL 

PAW: Capital _ SO. 12-31 M2 

INITIAL 

CanswferAsMcn . XU 12-19 1-5 

imperial Ciedt _ .1312-31 1-16 

YEAREND 


FEEDER CATTLE (CMEU 
iaooa bi- cants par fc 
j™« 7IM 7685 7697 +X45 7695 

Mar* 2X00 7765 7785 +065 4J67 

Apr* 7X80 7X25 7X31 +4127 1987 

May* 7927 7925 79^2 +4L42 T627 

Align 81 JO 81JOO 81 JO +4L40 796 

Sap M 81J0 81.10 8120 +065 '182 

EsL sdas 2941 Mam sate 6996 
Mamqpaa tal IX 4 » ap 121 


Load 


175160 175260 
17*060 178160 


533W 

54460 


S34W 

5406 


51660 

53060 


51760 

53160 


S 8 ssn»^ use 0 

Mar« JW 6 -7TO9 90(1 -06025 5X787 

Am* .7070 J054 2055-06109 3.165 

8ep9* 20*0 .7065 Jus-06033 783 

BX sate NA Mam sate 14447 
Mom open M 85,973, off XS63 

GERMAN MARX (CMEJO 

125600 laaricc f psr mart 

Mra» 9669 6630 6643-06023 6X129 

J«l»5 2671 -06023 4392 

S«P 9* J6M4UU23 140 

Ed. sate TLtte Man sate 2X19S 

Mom span tat U7DX off 1219 

JAPANESE YEN (EMER) 

l? 5 * P« OTmi 

JK 0 .7726 7755-06007 97714 

Jim* 3S£& 2B42 .7B63 i ^®3 

tel* -7967-06010 U70 

Est sate HA Mam sate 2X512 
Mamopai tat 147.13X off XLffi 


JanM 2615 

fat 98 2J70 2270 2-370 +0.097 TSW ” 

MarW 2205 2225 2300+0067 »M7 A 
Apr* 2220 X17* 7220 +43642 11643 
MOT* XIM 2.170 XIMiara 9^9 , 
Jwi9* 1185 X1TO ilM+OOB X77* 
&«. arias NA Mam arise 2X046 « 

Mom open U 21 667 XoflU«S q 


UNLEADED GASOUNE (NMER] 
42600 gnL cants par go] 

*“» 55.60 s«5s 5561 + 0 . 


593060 594060 
«Q 0 Da 402960 


593560 

608560 


994560 

604060 


537560 538560 
528060 528560 


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Bass to Sell 
1,400 Pubs 
And Pay Off 
Shareholders 


Reuters 

LONDON — - The British brew- 
mg giant Bass PLC announced plans 

on Tuesday to return about £8^0 
million ($1 .39 billion) to sharehold- 
ers after agreeing To sel] more than 
1 ,400 of its pubs. 

Bass said it was selling the pubs 
. for £564 million to a management 
t team backed by BT Capital Partners 
. Europe, the private equity arm of 
Bankers Trust. On Monday, the com- 
pany announced the sale of its Gala 
bingo club chain for £279 million. 

Bass plans to return to sharehold- 
ers the equivalent of about 1 1 per- 
cent of the company through a bo- 
nus issue of redeemable preference 
shares. Shareholders will be able to 
choose between redeeming the B 
shares or holding on to them. 

Bass shares finished op 4 pence at 
899, as brokers and investors re- 
sponded favorably to the move. 

Die sale of both Gala and the 
leased pubs had been widely ex- 
pected and the financial community 
had been urging Bass to return funds 
to shareholders. 

v “It’s good news that they got rid 
' of these pubs,” said John Carnegie, 
a BZW analyst. “It’s the kind of 
business which needs a high level of 
management control, and there is 
obviously more potential in some of 
their managed pubs.” 

The move still leaves Bass with 
about £1.5 billion for acquisitions. 
Finance Director Richard North 
said. The company has indicated 
that it is eager to add to its Holiday 
Inn hotels in Europe and expand its 
upmarket Crowne Plaza hotels. 

The sale of the leased pubs will 
enable Bass to focus on better-per- 
forming parts of its business. Mr. 
North said. 

The company plans to spend 
about £300 million on developing 
its estate of 2,500 managed pubs in 
I the current year, creating about 
4,000 jobs. Managed pubs are 
wholly operated by Bass, and the 
manager and staff are appointed by 
the company. At a leased pub. Bass 
owns die building but rents it out, 
making its profit on the beer it sells 
and the rent it charges. 

“Profit from these pnbs over the 
last three years has been absolutely 
flat,” Mr. North said. 


Dassault Wins Emirates Jet Order 


Reuters . . 

ABU DHABI — The United 
Arab Emirates announced Tues- 
day a $2 billion order for 30 ad- 
vanced Mirage fighter jets built by 
Dassauh Aviation of France. 

The emirate, which has had a 
defense cooperation pact with 
France since 1995, will also mod- 
ernize its force of 33 older Mirage 
2000s. 

The 30 new Mirage 2000-9s 
will be delivered over three years. 

Die deal was announced during 
a visit to Abu Dhabi by President 
Jacques Chirac of France. 

The deal gives Dassault a mDcb- 
needed^ boost as it faces a lull in 
domestic orders. 

The Mirage order also assists 
the French government, which re- 
lies on exports to maintain its de- 
fense industry in the face of do- 
mestic spending cuts. 

Mr. Chirac noted that the 
Mirage contract represented 
”15,000 jobs for five years for 
France.” 

Dassault was hard hit when the 
Socialist government in France cut 
aims expenditure for next year by 
9 percent in an attempt to curb the 
budget deficit and qualify for the 
single European currency. 

As pan of the belt-tightening, 
the Defense Ministry has held up a 
multiyear contract for 48 Dassault 
Rafale jets while negotiating a 10 
percent cut in the estimated unit 
price of 300 milli on francs ($50.5 
million). That estimate excludes 
development costs. 


Although Dassault is the air- 
frame mater, industry analysts ex- 
pect the major share of the contract 
to go to companies making such 
related systems as radar, weapons 
and motors. 

The electronics company 
Thomson-CSF will equip the 
Mirage 2000-9 and retrofit the 
2000 series with its radar system, 
which allow a fighter to track a 
n umb er of threats simul taneo usly 

In Paris, Dassault shares closed 
down 3 francs, at 1,335, after a rise 
Monday in anticipation of the 
deal. 

Thomson-CSF stock rose 1 
franc to 185. 

In addition to the Mirages, the 


United Arab Emirates is looking to 
buy 80 more hext-genexanon 
fighters worth $6 billion. 

Lockheed Martin Corp.’s F-16 
tops the list of favorites. Gulf de- 
fense sources said, but financial 
aspects of the contract remain un- 
resolved 

Gulf Arab sources also reported 
that the country was displeased at 
the perceived lack of pressure 
from Washington on Israel over 
the stalled Middle East peace pro- 
cess. 

France is offering the Rafale for 
the $6 billion contract, while Brit- 
ish Aerospace PLC is offering the 
Eurofighter 2000, a four-nation 
project 


Israel Urges El AI to Buy Boeings 


Reuters 

JERUSALEM — Defense Min- 
ister Yitzhak Mordechai has inged 
die heads of the state-owned airline 
El Alto bay jets from Boeing Co. 
rather than from Airbus Industrie, a 
ministry spokesman said Tuesday. 

The spokesman said the request 
was made “in light of close re- 
lations between Israel and the U.S. 
generally, and the defense estab- 
lishment in particular. ” 

But he issued a statement quot- 
ing Mr.'Mordechai as saying that 
he would not interfere in the air- 
line’s business considerations. 

The ministry did not provide 
further de tails , but the daily news- 
paper Ha'aretz said Tuesday that 


Mr. Mordechai had told El AI a 
decision to shun the U.S.-made 
Boeing jets would hurt Israel’s 
standing in the U.S. Congress at a 
time when Israel is seeking fund- 
ing for various defense projects. 

It also reported that Mr. Mor- 
dechai had said that the purchase 
of Airbus jets would make it more 
difficult for the Defense Ministry 
to negotiate better terms with Boe- 
ing’s McDonnell Douglas unit for 
the purchase of fighter jets. 

El Al’s board of directors is due 
to decide soon between a com- 
bination of Boeing 737-700s and 
737-800s and the European con- 
sortium's Airbus A-319s and A- 
320s. 


Daimler Shears Off Microelectronics Unit 


Bloomberg News 

STUTTGART — Daimler-Benz 
AG said Tuesday it would sell its 
Temic Telefunken Microelectronic 
GmbH unit to Vishay Intertechno- 
logy Inc., a U.S. electrical-compon- 
ent company, for $500 million. 

Die sale marks the conclusion of 
a strategy initiated by Chief Ex- 
ecutive Juergen Schrempp aimed at 
divesting noncore and unprofitable 
businesses in order to maximize 
shareholder returns at the largest 
industrial company in Germany. 

“This acquisition provides 
Vishay with a strategic extension of 
our market position,” said Felix 
Zandman, Vishay’s chief executive 
and foamier. 

Mr. Zandman said tile Temic ac- 


quisition, which follows the acqui- 
sition of Lite-On Power Semicon- 
ductor of Taiwan, would position 
Vishay as the broadest worldwide 
manuracturer of discrete passive 
and active electronic components. 

The acquisition will almost 
double Vishay's annual sales. 
Vishay, which employs 17,000 
people in more than 50 plants in the 
United States, Europe and Asia, last 
year reported sates of $1.1 billion. 

Temic, which employs about 
6,700 people around the world, is 
expected to post sales of about $875 
million in 1997. The unit's new or- 
ders are expected to rise to $915 
million for me full year. 

Daimler win keep Temic ’s auto- 
electronics components division. 


which is expected to post sales of 
about 1.1 billion Deutsche marks 
($619.1 million) this year, up 43 
percent from last year. 

Daimler went through an acqui- 
sition splurge during the 1980s. ex- 
panding into growth markets such as 
the microelectronics and aerospace 
industries. 

Low returns on sales forced 
Daimler to implement a widespread 
reorganization plan approved by 
shareholders in 1995, including the 
selloff of its unprofitable AEG and 
Fokker units with the company’s 
focus returning to its car- and truck- 
making businesses. ' 

Daimler-Benz shares closed up 
1 30 DM in Frankfurt on Tuesday, at 
123.90. 


CSFB Takes 
New Look at 
BZW Asia 


Bloomberg .VVirr 

HONG KONG — Credit Suisse 
Brat Boston said Tuesday that it was 
in talks to buy parts of BZW Asia 
Ltd., Barclays PLC’s Asian subsi- 
diary, one month after it declined an 
opportunity to bid on the busi- 
nesses. 

CSFB is in the process of buying 
BZW's European and British equit- 
ies and mergers businesses for £1 50 
million ($245 million). Now the in- 
vestment bask, which has 1.400 
people in Asia, is also in talks to buy 
parts of BZW Asia, which employs 
700 people outside of Japan. "a 
spokeswoman said in Hong Kong. 

The talks come as falling Asian 
financial markets turn once-valu- 
able assets into fire-sale fodder. In 
the past month, several Asia-based 
investment banks have sold stakes 
to foreign investors. 

Western banks are “essentially 
making use of the local distressed 
bank situation to extend their market 
position” in Asia, said Nick Collier, 
analyst at Morgan Stanley. Dean 
Witter. Discover & Co. 

BZW Asia has been on the block 
since late October. Negotiations for 
the business first began when 
Barclays, Britain's drird-largest 
bank, hired Goldman, Sachs & Co. 
as adviser and said it was putting the 
whole of BZW up for sale. Last 
month, CSFB bid for the British and 
European equities businesses but 
declined a bid on the Asian parts. 

Talks over the Asia businesses 
have dragged on as tumbling .Asian 
currencies pulled down financial 
markets throughout the region, 
pushing investment banks in the re- 
gion to shed staff — Peregrine In- 
vestments Holdings Ltd. alone shed 
14 percent of its staff — and post- 
pone expansion plans as new stock 
and bona sales were scuppered and 
trading volume slowed to a trickle. 

“It would be fair to say that tiying 
to sell a business in Asia in the last 
couple of months has been made 
much more difficult by the con- 
dition of the Asian markets." said 
Roger Davis, chief executive of 
BZW Asia Ltd. A final price for 
units of BZW Asia has not been 
established, executives said. 

Mr. Davis said BZW was hoping 
to place most of its staff in the new 
organization. But throughout Asia 
on Tuesday, there was speculation 
thar BZW employees would lose 
their jobs because of the sale. 


Investor’s Europe 


Frankfurt 

DAX 


■1500 




j i s olii' 

1997 


Excbangg 

index 

Tuesday 

Close 

Prev. 

Close 

% 

Change 

Amstwiiam 

AFX 

904*73 

888.78 

+1,79 

Brussels 

BEL-20 

2,475J9 

2,438.03 

+1.56 

Frankfurt ■ 

DAX 

4.083J7 

4.060.04 

+0J9 

Copenhagen 

Stock Maries! 

656.75 

651.46 

+0.81 

Helsinki 

HEX General 

3,198.63 

3,166.29 

+1.02 

Oslo 

OBX 

671.61 

672.04 

-0.06 

London 

FTSE100 

5*20340 

5.121.80 

+153 

Ma<**d 

Stock Exchange 

S30.64 

620.85 

+1.58 

Milan 

MJBTEL 

16161 

15763 

*2JSZ 

Paris 

CAC40 

2312.18 

2,838.27 

+eeo 

Stocktiobn 

SX 16 

3^1^20 

3.128.35 

+Z71 

Vienna 

ATX 

1^60.12 

1.267.10 

-0.55 

Zurich 

SPI 

3,789.10 

3.731^3 

+1.53 

Source: TeJekurs 


Intrnurniui Iterahl Tritvne 

Very briefly: 


• Walibi SA, which runs six theme parks in Europe, agreed to 
a takeover bid from Premier Parks Inc. of the United Suites, 
tile world’s No. 4 theme park company. The bid values Walibi 
at about 3 billion Belgian francs ($81.7 million t. 

• Dresdner Bank AG’s chief executive. Juergen Sarrazin, 
who was not due to retire until Mav 1998. plans to step down 
Dec. 31. 

• Ernest-Antoine Selliere, chairman of French holding com- 
pany Cie. Generate d’lndustrie & de Participations, was 
elected head of the Conseil National du Patronaf Francais, 
the main business organization of France. 

• Debenhams, the British department store that is demerging 
from Burton Group PLC. plans to spend £350 million 
($57 1 .6 million) over the next five 


of stores to 100 from 88. 


: years to increase its number 


• Agfa expects to nearly double its 1 997 operating profit, to 
480 million Deutsche marks (S270.1 million) against 243 
million DM last year, as the photo and imaging unit of the 
German chemicals and drugs giant Bayer AG said it would 
exceed the parent company's goal for it to make a 6 percent 
return on sales. 

• Sulzer Medica Ltd. has reached agreement with Spine- 
Tech of the United States to acquire all of its shares at S52 
each. Die Swiss-based orthopedics concent's offer values the 
U.S. company at $595 million. 

• Esprit Telecom Group PLC, a European provider of 
telecommunications services, said it would offer corporate 
and private customers telephone call rates at least 20 percent 
and as much as 65 percent lower than Deutsche Telekom 
AG's when the German market fully opens Jan. 1. 

• Continental AG is raising the price of its three main tire 

brands by 2.8 percent to meet rising material costs. The move, 
which applies to tires sold under the Continental, Uniroyal and 
Sempent brands, follows a 3 percent price increase for the 
three brands in April. Reuun, Bloomberg 


J WORLD STOCK MARKETS 


lit id 


lUesday, Dec. 16 

Prices In toad currencies. 
Temurs 

Htgn Law atm Prw. 

Amsterdam Af£!£52i2 


0-..1 

'Mr. 






S* K - * - 

Aw ’i 

>un i 


***.-? — — 


a **ra*»- 


‘.y » • y 
'*• « - 


ash-amro 

Aegon 
Ahold 
AkraNoM 
Boon Co. 

Boh Wesson 
L 1 CSMcyq 
• Dardfscho Pet 
DSM 
Elsevier 
Farfte A*e* 
Getaonles 
G-Broccw 
nauiiiuvu 

Hcfeieken 

Hooawenscvo 

HwdDooctos 

INC Group 

UA 

KNP BT 

KPN 

Oce Glinted 
Ptlttps Elec 
Polygram 
Rondstaa Hrfg 
Rabece 
Radamca 
Roam 
Potwto 
Royd Dutch 

Umtawcvo 

Vendaliril 

VWf 

Welters Klara 


41 JO 
117* 
54 
34X40 
70 
»-50 
86 
no 

18140 

3120 

85.90 

6AJ0 

49.70 

86.70 
M750 

S7j60 

76 

14 

7120 

4170 

8150 

45.90 
41 JV 
219.BO 
11630 
101.90 
7&00 
185.80 
S7J0 
17430 
12040 

111.50 
12490 

107.50 
5TJ0 

36440 


40.10 

17470 

53 

34120 

6480 

30 

8& 20 
107 JO 
181 
32S0 
8430 
6450 
48J0 
8150 
34230 
8530 
73 

8160 

7230 

4320 

8130 

4430 

60.90 

21630 

11170 

101.10 

7530 

18530 

5490 

17320 

119.5® 

10830 

12130 

10530 

SOM 

26120 


4120 3930 
176 176 

5330 5340 
342J0 36130 
6920 6540 
3020 3020 
8540 B6 

no 107 
18220 18030 
3110 33 

8520 8330 
66 6450 
4830 49 

M 8630 
34730 342 

6630 8530 

%% $3 

73 72.10 
4820 4110 
8330 81.90 
4430 4420 
61 60.70 

21940 21530 
114 11130 
10130 10130 
7830 76 

18530 18420 
57.10 5660 
17420 174 

1 20.40 J20 
11)30 108.10 
12450 12QJ0 
10730 10720 
5720 5020 
26230 26230 


HI* Low 

BMW 1318 1300 

Cemraentank »J0 69.10 
Daimler Benz 12430 11230 
Degussa 90 8720 

DeftdttBank 12455 11140 
DeutTaWtora 3175 3140 
Dfesdmr Bank 82.10 80JD 
FreseriOi 277 271 

FmeaiiKMed 17930 11730 
Fried Krapp 3Z730 316 


GMm 
KeMefegZim 
Henkel pH 
HEW 
Hortfrf 
HOKhSt 
Kmstmfl 
Ummeycr 
Linde 

Lufthansa R 
MAN 

Manmmmno 


95 9220 
13130 131 

10730 10550 
466 466 

7250 7120 
6330 6270 
609 606 

75 7330 
1025 1022 
3375 3280 
501 4 95 

863 84830 


Nte*aflgese*schrfl3225 32.10 
HWraT ‘ 7840 7640 

Munch RaodcR 657 <3U> 

Pieasng 500 490 

KWE^ 9225 9020 

SAP 513 501 

SdWfaa 17525 17270 

SGL Carton 229 225 

Steams 102.10 100.15 

s " dtot * ,r 2” 

Thrssen 39130 383 

Veto 115A0 11420 

VEW 600 595 

Vkn 968 93630 

VbSmagen 969 961 


1300 1320 
6970 6875 
12330 12230 
88 Ji 
12175 12320 
3160 3X30 
82.10 81 JO 
275 276 

11730 11920 
327 332 

9320 9525 
13130 132 

10530 109 20 
466 466 

73 71.10 
6X90 6405 
609 610 

75 75 

W2S 1025 
3375 3230 
505 -5U 
85730 Ml 

M 

’iL’i 

17470 17130 

% H5 

3S450 39030 
11430 11270 

d 1 


Resorts World 

Rodmans PM 
Stand 

Te 


Dart* 

eaMai 


London 

Abbey NaK 
ABedDorcecq 
Ang Ron Wrier 
Arm 


bat lad 


Bus* 

MAfewyi 




Y 

rj r ■ 




Bangkok 

aov intoSvc 
Bangkok BkF 
Kiwis Thai Bk 
PnEiWw 
SumCmertF 
Stan Com Bk F 
TrteeomosJa 
Thm Airways 
Thai Farm BkF 
UldComm 


21B 

118 

11 

376 

360 

5250 

11-25 

49 

9930 

2030 


SET bxtec 37028 
Preetoas: 347-73 

204 306 218 

111 115 - 111 

1030 11 1030 

372 374 372 

350 354 346 

51 52 52 

9.10 1125 9 

4725 48.75 49 

9630 9630 _99 
1930 2025 2125 


Helsinki 

ErrsoA 

HuMamakW 

Kemlro 

Kesko 

Meilla A 

MefraB _ _ 

Meteo-Sdo 8 

Neste 

Hakia A 

Orion-YWymoe 

Outokumpu 

UPMKymmene 

Vteiwf 


HEX Cuwfalfcntarr. 319838 
Pnvl»R316629 


42 4? 

224 222 

51 50 

M 83 
29J0 27.90 
125 11820 
41 4530 
130 125 

374 345.10 
138 136 

6430 63 

101 9820 

72 70 


42 42 

222 224 

5030 5030 
84 8230 
2820 28 
123 125 

4030 41 

127 123 

371 36130 
138 138 

6460 a 
9830 10030 
7050 69 


Otars 


EMJ Group 



Hong Kong 


; •+>-'■ j-; ^ 

«*. --#5 ■ ■ 

X- -ya iiiU? 

ry.'a -J^rfc £flr?- 

J62B..-SrP- 

ana^L.^.-. - - 


Bombay 

Bate Auto 
Hndttrt Lew 
Htaduupeflei 
IndDwBk 
RC 

Atatwnagar Td 
ReBanoMnd 
Slate Bkfndto 
Steel AWhwfty 
Tata Eng Lorn 


j w» J 5 W® 

44925 444 44U5 440®. 

run 82. 25 BUS 82 
SOM SBJ5 S9 30 5S9^ 
2i7^ 235 245 234OT 

15730 15250 15530 154J5 
m 714 220 71330 

I0J5 930 ^ 

289 774 287 27530 


r 


' w r#’ 

y«.\353 r:syc: 

« -‘41.48 “■ 

i — -mOSi. 


•V; 
i- ^6 J W. 

\ -4. 

Ip 


U 




Brussels 


Bacd 
BBL 
CBR 
Colruyl 
DrihriKLiun 
Etedratael 
Eledratam 
Forks AG 
Gaout 
GBL 

GenBonque 

Kiedtebonk 

Pcteoflne 

PowMfln 

SCTS 

Sofwy 

rracteM 

UCB 


BEU»tad«2g5J9 

pnoterc 243833 

1900 IBM 1890 1815 

6530 6390 6530 6400 

«» 9670 9820 95® 

3400 3360 3385 3355 

1N» 18208 1C50 UW 
1925 1910 V9M 
8330 8310 8330 8290 

3385 3310 3385 
7540 7450 7500 74» 

,7W 

5430 S380 5410 5360 

16250 15675 16225 15600 
16100 15800 (6075 15725 
14175 13975 14175 13925 
5160 51« 5160 5160 
10100 993® 10075 99M 
3575 3450 2550 3£0 

2325 22BS 2320 2275 

3140 3120 3130 31?Jj 

127900 lnian 122200 '71 wo 


Caftar^fflc 

8EI« 

SW 

pSS 1 

Hemenanliw 
HandanoRi-d 
HKOtWCas 
HKEtedrtc 
HKTelecown 
Hdgs 


HufcMm. 

SSSVSB&f. 

Orfertal Press 
Peart Otatol 

S®. 

ShotAndCo. 
SttiChtoaPosI 
Suite PocA 
WhoriHdgs 
WTmdock 


455 
1840 
420 
50 
20 
41 JO 
81 
19J0 
4J0 

1050 

7175 

425 

3460 

1415 

2470 

1550 

2 

189 

4810 

15J0 

23 

1170 

17 
23S 
043 
5525 
150 
478 
470 
41 JO 
14X1 
475 


Haug Saw 1034431 
Pmtoas: 180415 

450 450 643 

17.50 1 7-50 18.10 
4B0 545 WK 

4430 4840 49.60 
1950 1950 1945 

4050 4050 41 

30 3OJ0 3070 

19 19 wag 

4 413 418 

10.15 1040 1050 
7125 7125 7150 
005 410 420 

3460 36 36J0 

1345 1410 1195 
26 26JH 2440 
1520 1430 1430 
125 126 120 

18450 18450 187.8 
47^0 47JC 448 
1405 1520 150S 
2265 23 

1320 1320 1320 
2410 2415 2640 
IX 2J3 233 

048 Ofl 047 
5150 5150 5475 
243 233 28 

460 465 473 

455 540 SJS 

40.10 40J0 St 
1440 1455 1530 
VB W5 465 


:wd9* 


GranodoGp 

GnmdMd 

GR£ 

GraendsGp 

Gutnness 

GUS 

ia 

bripf Tabocca 
KJnafteher 
kodbrato 
Land Sac 
Lnsmo 

tt&WS 

tsgg2u 

MEPC 

MmwyAMat 

Mod Power 

NrfWesI 

Nad 

Nanldi Union 
Orange 

rOujaca 

PaJnjton 

PtwerGai 


iGraup 

IteddBCrim 
Retold 
Reedhri 
Uertokfl Infllcd 
Reuters Hdgs 



Copenhagen 

BO Bank 465 

uuhbergB 369 
CedoRfars 9S0 
Danisco W 

Den DaiEkcBk 887 

ms«eniHvB moooo 

tvs 1912 B 305010 
FLShnfB W5 
KoftLURMWW rw 
HuoNandSkB 91075 
Septan BaB 1070 
WeOwnkB 438 
TrygBaitaa 44044 
TMdanmt A 510 


Slack teiac 6*475 
Pn«toni65146 

44S 45445 454» 
360 364 367 

96931 975 M0 

354 357 » 

B49 887 8S5 

4-6000 440000 50000 

290000 305000 300000 
169 1741! 170J8 

m we no 

894 897 JO JW 
1050 1070 MS5 

at 43444 ^ 

42840 440 43D 

490 510 491 


Jakarta 

Astra irit _ 

Bit Mi Mon 
BkHOflon 

GudongGon 

lndoovnent 

rndriood 

Indasd 

SaspoaitoHM 

Sea#«ew» 

TrietaMMaai 


QrmpraBetodBC 3S4» 

1525 1M 15M 

M U M W 

500 425 W « 

727S 6850 7200 6775 

1275 1175 m I2M 
USB 1»0 ^ MOO 

8925 SS? 

3850 3425 3525 3575 

B2S 5450 2600 2400 

MB 2200 2400 -2200 


RAACGfWp 
Rate Rapes 
Royal Bk Scot 
RiydgiSunAI 
Sofcwoy 
Sotasbwy 
Sdmdm 
SoriNewcasBe 
Scut Power 
Secw fcra 
Seram Treat 
SIwflTranpR 
Stebe 

Sndtb Neghew 
SaiUCSm 
SmBftlnd 
StWnEiec 


I— ’>--1 

*6 'flipw- ft' 1 *- 
S 4t:W 


* vSfr --fVK r. 

, rj* 


Market Closed 

The stock market in Johan- 
nesburg was closed Tuesday 
foraholiday. 




Frankfurt 

IMBB 
IdtakK 
Mfeml 
illona 
vw Catania 
ikBrtta 

ipyetHypaBk 8280 
kiV.vcfE«&&anfc "1 
WHO. ^ 
irmndert 75 

*«*aq 4460 


17030 

24840 

43940 

12540 

165 

40 

taio 


DAXr 488197 
Piuytofto 4WA04 
149 169 IB 

242 246 253* 

43080 43840 4&3 
123 12440 12340 
163 163 164 

3940 41 

6145 61-75 61.90 
B0J0 8240 81.70 
(1045 110.90 111* 
61.40 62.15 6175 
73* 73* T* 
48 4840 4430 


Kuala Lumpur 


246 

. 5$ 

60S 

i*** 5««i! 


AMMBHdgs 
GerttoB, 

8BL 

PrimnnCis 
Ptrion 


Reswng 


pn ri eu ra 58 8X 7 

208 2-11 Z* 

SS S3 9 J 

& £3 S 

178 190 184 

1.43 jun 

Susp. SUSP. 1* 


Stand , 
ToteS Lyte 
Tosco 

■JUpmes Wrier 
31 Group 
T1 Group 
Tomidna 
llaBewr 
Utd Assurance 
VtdMews 
mduiufet 

VwdsmtLxuli 

VbdaiOM 

WM&reod 

WnomsHdgi 

Waterier 

WPP Group 

Tenter 


Madrid 

ACBtJM 
AC ESA 


HlgU Low C)um 

Pro*. 

SJO 

£25 

585 

5X5 

3285 

2985 

2985 

31 

388 

334 

136 

346 

985 

£95 

9JB 

Mo 

680 

645 

640 

6-50 


S 4$ 

134 

436 


FT-SE 1 OS: 5X241 


PraytekSiZua 

1148 

1046 

1147 

10X0 

542 

a 

54) 

535 

15D 

849 

845 

582 

£68 

548 

£75 

1.77 

182 

134 

185 

547 

£35 

544 

544 

5JJ5 

495 

495 

5X2 

17.95 

1682 

17 JO 

1686 

9.10 

8.92 

£99 

885 

SM 

545 

544 

546 

585 

543 

£72 

550 

341 

£31 

133 

336 

942 

ja 

941 

947 

883 

176 

£93 

8X0 

341 

3J5 

340 

333 

1745 

17.11 

1736 

1747 

585 

560 

£74 

548 

193 

287 

293 

286 

681 

683 

687 

6J6 

580 

111 

£16 

£15 

445 

485 

*J8 

432 

143 

137 

138 

137 

482 

435 

480 

477 

182 

186 

1X1 

1X1 

1045 

985 

1041 

1080 

144 

141 

141 

140 

SM 

581 

541 

535 

640 

680 

637 

630 

450 

485 

443 

44S 

9.10 

887 

9.06 

£90 

745 

747 

743 

745 

112 

383 

106 

110 

6.18 

589 

£98 

6.17 

ml* 455 

450 

452 

4X8 

447 

450 

457 

447 

687 

445 

645 

644 

593 

581 

548 

583 

183 

181 

183 

1J0 

11 


1095 

10-76 

388 

385 

389 

1190 

1136 

12X2 

1240 

1 1457 
895 

m 

140 

£86 

1420 

£67 

£93 

SM 

£91 

5X5 

384 

£26 

33* 

387 

427 

4.15 

423 

410 

593 

£86 

593 

5X5 

755 

741 

7J2 

748 

850 

781 

£05 

£04 

1515 

1485 

15X3 

U93 

9.71 

841 

9-50 

9X2 

411 

ft 

198 

157 

853 

OS2 

£20 

179 

170 

£75 

277 

1006 

985 

1006 

10X1 

185 

246 

2X5 

245 

. £51 

581 

SJO 

£24 

781 

787 

788 

730 

104 

2 

ZJJ1 

2X2 

681 

6* 

6J0 

6X9 

538 

587 

£30 

535 

1686 

1683 

1673 

1688 

191 

285 

2.9D 

2X6 

687 

583 

£99 

580 

W40 

983 

10l31 

986 

687 

685 

6X5 

6M 

389 

342 

3,90 

175 

545 

249 

2-53 

2X0 

685 

685 

495 

6X6 

845 

£22 

£32 

£40 

784 

180 

183 

180 

818 

786 

£13 

787 

415 

4.10 

411 

413 

786 

%3 

743 

7.14 

953 

950 

9J0 

343 

335 

336 

142 

948 

9JB 

9X2 

938 

345 

342 

343 

142 

535 

£18 

625 

621 

241 

245 

2X5 

2X5 

682 

645 

649 

645 

283 

247 

280 

286 

7JP 

7 

7X2 

734 

984 

887 

9X5 

£95 

143 

233 

236 

236 

743 

780 

742 

780 

642 

6* 

689 

6.12 

347 

336 

337 

345 

580 

506 

£16 

£10 

1947 

1840 

1940 

1884 

1S> 

735 

738 

741 

541 

585 

53? 

£28 

3XC 

283 

283 

3X6 

1020 

in IK 

l£15 

Jfil 2 

440 

447 

455 

446 

1115 

UJS 

12 

1145 

186 

1.78 

188 

1X5 

642 

685 

6X0 

687 

£75 

836 

847 

846 

505 

4.97 

£02 

4ft 

810 

7.99 

£06 

8X3 

782 

687 

6X6 

485 

450 

446 

489 

4X7 

585 

489 

5L0< 

493 

947 

983 

931 

932 

£10 

582 

£09 

£10 

£17 

495 

£09 

5X5 

Z53 

2X7 

280 

283 

523 

£03 

5X7 

£01 

527 

£18 

523 

£21 

755 

7.10 

7H0 

736 

787 

743 

7J7 

744 

i 446 

445 

465 

446 

444 

489 

433 

422 

9 

840 

173 

£80 

535 

385 

128 

030 

£14 

488 

£W 

499 

245 

257 

242 

1X4 

2034 

1989 

2088 

19X3 


High Law Oasu Pra«. 


Ktgb Lour Close Piwr. 


A qooi Bgre rion 

Ajgefiarta 

BSV 


Banklntar 
Bco Cartro Hlsp 
Bar Poputa - 
Bco 5ankin(iw 
CEPSA 
Canftnemle 

rT W TSc 

FECSA 
Gas Natand 
Bren&ola 
Prycn 
R»psr4 

Seifflan a Bee 
Totasctamn 
Tetefcteca 
Untai Fonosa 
WtencCament 


6330 

9670 

4690 

1550 

8290 

3370 

11350 

4690 

47B0 

2733 

7870 

2950 

1330 

7860 

2015 

2280 

4490 

1430 

12180 

4625 

1490 

2915 


6270 

9450 

4625 

1520 

ana 

3235 

10460 

4630 

4700 

3680 

7680 

2890 

1290 

7640 

19* 

2220 

6390 

1405 

11920 

4SSC 

1465 

28* 


6300 6300 
9620 9570 

4680 4580 
1535 1525 

8220 8040 
3365 3210 

10970 1Q24Q 
4670 4600 

47X 4750 

7700 2710 

7850 7650 

2915 2*75 

1290 1310 

7860 7580 

1985 1995 

2230 2230 

6470 6360 
1415 7420 
1202D 11950 
4610 4495 

1480 1«5 

2915 2900 


Manila 


Apcta 

Ayota Load 
BkPhUptd 
CAP Homos 
Marta ElecA 
Metro Bonk 

Petal 

PCBanfc 
Piling EM 
San Miguel B 
SM Prime Hdg 


PSEi 


1475 U25 
14 1375 
85* 85 

248 274 

77 75* 
272* 257* 
IS 3* 

124 in 

840 830 

50* 49 

5J0 S40 


1*178 
181947 

1475 1475 
1X75 14 

85* as* 
248 274 

76 77 

270 265 

3* 3* 

123 124 

840 855 

50 50* 

£50 570 


Mexico 


AitSA 
Bowed B 
CotkCPO 
atrac 

EmpModerna 
GpoCorao AI 
Gpa F Bcmw 
QroFtn 

Mwna 

Kknfa Clark Meh 

TetevtoaCPO 

TeiMaxL 


Batata indaB 505177 

-\14 


56* 

2240 

26* 

18* 

42.10 

58* 

X15 

3100 


5470 5 6* 
2170 22.05 71.10 
35* 3670 3540 
17.18 1BJ30 17JJ8 

4070 42.00 40J5 
57* 57.00 57.10 
105 10B 31» 

3240 3240 3240 


Air Liquid* 

AtajJa Ate#i 

Ara-UAP 

Bwtariro 

B1C 

BNP 

Carte Pte 

CarrefoUT 

Casino 

CXF 

Ceteten 

ChrfsikmDta 

Own Aorta* 

Dwwne 

Dexia Fran 

EMaufclnc 

EridanJaBS 

EuradbiWY 

Eurtemitei 

Franca Tetecora 

Gen. Eubx 

HWB 

imeiri 

Lufroga 

Legrona 

LOnte 

LVMH 

MidwInB 

Patoos A 

Pemod Riatrl 

Peogeol Qt 

PlHlfrftW 

Ptoroodes 

RfioouSI 

Rari 

Rh-PauteficA 

Sanofl 

Sdreider 

SEE 

SGSTlMnsofi 
Ste Generate 
Sodexho 
St Gotten 
Suez COci 
Suez Lywi Eaux 


CSF 


TotolB 

Uataar 

Vdeo 


930 

750 

473 

1017 

_ 410 

331.90 

1019 

2995 

228 

if 2 

865 

606 

1273 

1106 

607 

654 

990 

770 

5* 

217* 

193 

•88 

376.70 

1194 

2262 

993 

293* 

SI 3 

334 

692 

30*9 

2335 

17240 

1735 

317* 

800 

34470 

*8 

3275 

a 

1575 

670 

745 

187* 

619 

85 

386 


737 

457 

993 

402 

326 

997 

2899 

325 

430 

B43 

581 

1236 

1064 

670 

634 

935 

7 

540 

21120 

759 

405 

716 

366* 

1140 

Z17D 

947 

282J0 

496* 

325* 

658 

2967 

22 * 

168.10 

1701 

264* 

an 

298 

791 

329* 

a* 

3180 

813 

1575 

636 

723 

182 

600 

8120 

379* 


Pl«. 


High 

Low 

Close 

Pirar. 

888 

BedrtwB 

571 

561 

567 

560 

728 

Ericsson B 

289 

2HJ 

28B 

278J0 

455X0 

985 

FrienfaHK Spar 
Hermes B 

2* 

367 

193 

346 

197 

366 

192 

344 

405 

IncsnBve A 

685 

674 

684 

6/4 

3* 

IrwtitarB 

374 

358 

3/4 

362 

990 

MdDoB 

7)0 2D45D 

■Jto 

XU 

3910 

328 

Pnm/tMom 

SoMtaeB 

281 

228 

273 279 JO 
223 227 

27460 

22350 

425 

Scania B' 

183 

169 

182 

168 

843 

SCAB 

1* 

168 

171 

16/ JO 

597 

S-EBankanA 

105X0 

98 

104 

9/JO 

1234 

SkancSa Furs 

415 

400 

4M 

3ft 

1061 

SkorakuB 

318 

312 

JIS 

316J0 

670 

SKFB 

165 

157 16450 

155 

625 

Store A 

97X0 

9SJ0 

97 

ft 

95B 


301 

293X0 29850 

292JO 

. 7.10 

Volvo B 

213 

210 

212 

209 JO 


5 15 SJS 
217* 21680 
7* 756 

417* 40180 
719 733 

375 366 

1100 1165 

2240 2138 

9S8 973 

290 281* 
510 49340 
32840 333 

685 6* 

3006 39B9 
2317 2230 
171.10 167* 
1720 1726 

245 262* 
617 609 

317 307* 
799 BW 
34470 317 

BN 844 
3265 3230 

826 *10 
1575 15* 
662 637 

735 735 

185 IS 

116 592 

85 82* 
382* 378 


Sydney 


AI Ordinaries: 251418 
PiWtous:23BQ* 


ANZBking 
• BHP 
Bam 

Brambles todl 
CBA 

CCAmaH 
Cotes Myer 


C5R 
Fosters Brteje 
Goodraon Rd 
KIAusMa 
Land Lease 
MIMHdra 
Nat Aud Bank 
Not Mutual Hdg 
NaucCcrp 
PodficDunlop 
Pioneer Inti 
Pub Broodcnsl 
RtoTrito 
Si George Bank 
WMC 

Wootaorfe 


642 

6X2 

685 

6.37 

10X4 

9X3 

981 

9.92 

13X7 

12X8 

1194 

1166 

3X7 

386 

2X0 

3X6 

2985 

28X0 

2982 

28X8 

17X5 

16X2 

16.99 

16X0 

11X0 

11X5 

11.06 

1180 

7X6 

746 

7X4 

745 

6.15 

6 

6.15 

6.10 

5X8 

£02 

5X8 

£09 

2X1 

276 

286 

289 

281 

117 

782 

its 

10X7 

1080 

10X5 

1D.7U 

3040 

30X4 

30.10 

30 JO 

0.97 

0.93 

084 

£94 

21 

2045 

20.96 

20X7 

285 

255 

168 

1X5 

£20 

£10 

£12 

£13 

3.12 

3.04 

3X7 

no 

3X6 

178 

180 

3X2 

6X0 

6.67 

6X7 

465 

16X5 

16X5 

16X6 

16X6 

BJ2 

840 

843 

£39 

476 

463 

466 

475 

946 

987 

942 

983 

10J1 

1QJ0 

ID JO 

10X4 

476 

469 

475 

470 


The Trfb Index 

Prices us of 3.00 PM Mbw Vtv* tens. 

Jan. /. 1902= tOO 

Level 

Change 

% change 

year to date 
% change 

+ 15.44 

World Index 

172.18 

+ 1.98 

+ 1.16 

Regional IrutaxM 

Asla/Pactfic 

35.63 

-0.45 

— 0.47 . 

— 22-52 

Europe 

191.89 

+ 322 

+ 1.71 

+ 19.10 

N. America 

218.97 

+ 228 

+ 1.05 

+ 35.19 

S. America 

Industrial Indexes 

147.29 

+ 3-34 

+ 232 

+ 28.72 

Capital goods • 

210.37 

+ 369 

+ 1.88 

+ 23.08 

Consumer goods 

208.05 

+ 1.71 

+ 033 

+ 2838 

Energy 

197.41 

+ 3.46 

+ 1.78 

+ 15.64 

Finance 

124.01 

+ 1.59 

+ 130 

+ 6.48 

Miscellaneous 

146.79 

-0.60 

-0.41 

-925 

Raw Materials 

166.10 

+ 1.79 

+ 1.09 

-529 

Service 

171.08 

+ 1.40 

+ 033 

+ 2438 

UMoes 

166.31 

+ 272 

+ 1.66 

+ 15.93 

The International Henjd Trtoune World Stock Index C tracks the US. doHar value 

of 280 irtamationaty t nrosmblB stocks from 25 countries. For mow information, 
a tree booklet a amitabto try wriong ro The Tnb Max. 181 Avenue Charles do 

j Gflufla, 82521 NeuUy Cedes. France 


Campled by Bloomberg News | 

High Low 

Oesa Piev. 


High Low 

Close Ptwr. 


MjlHii Fudasfl 

iWfcot Truss 

MuratoMfg 

NEC 

Nfton 

NftkoSec 


1340 

245 

3500 

1350 

1370 

400 


7300 1320 

235 £5 

3380 3500 

1330 1340 

1300 1330 

388 395 


Sao Paulo 


37* 36* 36* 37.10 
155* 154* 154* 156* 
21* 30JQ 71.05 20* 


Milan 


A l fo nzo Arte 

BceCeasMllri 

Ben Hdeurwn 

Bead Roma 

Benetton 

CiKBoltaiana 

Edhon 

ENI 

FW 

Generofi Asst 

1M1 

INA 


Ml BTatWfa: 16161* 
PmtausE 15761* 

1674) 16360 16645 16350 
54* 5410 5620 5415 

7700 7565 7700 7600 

1545 1512 1543 ISO 

28300 27700 28300 28000 
5305 5215 5310 5175 

10300 10055 10300-10145 
10155 9710 10155 W00 

5140 49* 5130 4990 

42850 421* 425* 41900 
J0600 19825 20600 197* 

3200 3110 3195 3105 


BrodescoPfd 
Brahma Ptt 

Etetobros 
taatancoPfd 
LtaTt Sfrttdas 


iPM 
PbuQbSq luz 
SMNodanri 
Souza Cruz 
Tatebmsra 
Tetania 
Triap 
Tefcspm 


UrimtoosPfd 

CVROPfd 


9J0 

725* 

50* 

65* 

12 * 

5601 

542* 

416* 

290* 

256* 

142* 

31* 

852 

123* 

120 * 

103* 

*1* 

43* 

6.10 

21 * 


9* 

710* 

«* 

61* 
1120 
54 OO 
530* 
413* 
284* 
250* 
139* 
31* 
B* 
119* 
115* 
100 * 
267* 
39* 
5* 
20* 


tadee 971621 
9S5SJ4 

9* 9* 

720* 710* 
4&* e>a 1 
61* 6149 
12 * 12 * 
55* 530* 
£40* 534* 
41499 415* 
285* 28L01 
251* 249* 
141* 140* 
31* 31* 
8 * 8 * 
121311 119* 
119* 1 1549 
ICO* TOOT) ID 
-99 265* 
43* 43* 
&«5 545 

2045 20* 


Taipei Stodi Mortal tatefc 819165 

^ PrwtoK:B341« 

Cotfwy LHelns 
ChangHw Bk 
Chino Tung Bk 
□era Devetprt 
Otero State 
FtasSBaik 
Formosa Plasltc 
Hua Non Bk 
Inti Comm Bk 
Nan Ya Ptoitics 
SHnKartguia 
Taiwan Sate 
Tatung 

UtdMbaEtec 
UU World CWr 


146 

143 

141 

144 

94 

92 

92 

93 

69 

67X0 

67X0 

67X0 

91 JO 

90 

90 

9OJ0 

2540 

2450 

2450 

2490 

93 

91 

91 JO 

93 

65 JO 

62-50 

65J0 

63 JO 

97 JO 

95 

9SJ0 

96J0 

55-50 

54 

im 

54 

58 

■ 56 

si® 

57X0 

10450 

lOOJO 

HR 

103 

122J0 

118 

118 

121 

3780 

3o40 

3A-7D 

3640 

n> 

67 

67 

68X0 

■31 <31 

57X0 

58 

58 


asssr 

Nippon Steet 
Nasal Motor 
NKK 

Nomura See 

Nn 

NTT Data 
Op Poser 
Osaka Gas 
Ricoh 
ftaftffl 
Sokina Bk 
Son kyo 
Smraa Bant 
Sanyo Elec 
Secom 
SenyjR wv 
SekistrtQwm 
Setlsul House 
Se*en-Elewen 
Sharp _ 
Shikoku El Pwr 
Shimizu 
Stan-e&uCh 
Shteetdo 
Shttuoko Bk 
Sofltxmk 


12700 12400 12700 
625 606 617 

37B 362 369 

196 188 188 

578 511 523 

115 112 115 

mo 1670 1700 

ii3* now now 
678* 66806 670* 
528 520 578 

780 770 273 

1620 1580 16* 

12200 12100 12200 
481 468 470 

2940 2820 2900 

1480 1420 1480 

370 355 364 

8190 8010 8050 

5410 5740 


Mtaohacca 

II »- -T. . 

mmasaa 

amn 


Pirate 
RAS 

Roto Bonat 
SPoolo Torino 


6890 6740 
8595 8390 
13790 134* 
1520 M90 
1010 998 

2480 2430 

4510 4330 


6800 6820 
BS9S 83* 
13760 1 32* 
1520 1471 

1001 1006 
24* 7415 

45* ~ 


Seoul 


16380 75990 16380 \ 

25000 24700 2SD0 24800 
17610 16925 17600 1«» 
109* 10790 10975 10655 
7390 72* 7375 7180 


1 KS, 


Montreal 

flee Mali Com 

CdnTireA 

CdnUtUA 

CTFWISVC 




terisstriais tedsx; 324LS1 
Pra te o u B 322737 
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X 


□oeoa 

Daewoo Heavy 
ratal Eng. 

.. (Motors 
Korea BPwr 
Korea ExdhBii 
LGSertcan 
Priiang Iren St 
Sansung Oskqr 
Soreung Elec 

ShtriiORBa* 
« Teton 


Oompatetaiods:40CJW 
Preteauv 3CJU 

65300 60*0 63000 60400 
5350 5050 4960 

11900 116* 119* 111* 
5330 J530 5400 

168* 156* 162* 156* 
3990 3990 3990 3700 
171* 166* 17100 159* 
574* 52200 S3000 S4000 
■96800 32500 35000 341® 
496* 4<7W 460* 461* 
7770 7200 7770 72* 
453500 4535*4535*4200* 


Tokyo 

Ateioraato 
AH Nippon Ak 


MBftnZB; 1578SJ1 
PnviaoK 15909J9 


AsaML. _ 
AsaW Ch etn 
AsaUGkas 
Bk Tokyo MHW 
Bt Vutoheraa 
Brtdgesiora 
Canon 
ChufauElec 


GazMte 

Gi-WesJ 


llteutorr Grp 

LobtowCos 

NaHBkCraada 


_.B 

.Ca»B 

BkCda 


3880 

37X5 

37X5 

30.10 

30 

30 

40ft 

4040 

4045 

53ft 

53ft 

53ft 

1&30 

17X0 

T7X0 

36.90 

36X0 

3680 

SI 45 

57 

5180 

43M 

43ft 

43ft 

26ft 

25X0 

26H 

24ft 

24ft 

24ft 

51 

4950 

5085 

49X5 

48ft 

49V4 

2740 

27.10 

27.15 

745 

680 

4X0 

79 

77X0 

7840 


Oslo 


AtarA 


QnsBsnlaBk 
DaimrieBk 
EHwn 
HafstoadA 
Kuoaner 
Nank Hydro 
NtatereStojA 
NycaaadAiaar 
OridaA , 
PrikuCuaSvC 
_ iPettoi A 


TnxaoceanOB 

Staf p d 


OBX tedrac 67141 
Preytaas; 672J4 

IX 


23.10 

32 

92 

373 

17450 

211 

183 

630 

453 

122 

125 

320 

XLS0 


132 

129 

129 

179 

171 

173 

29 

2&50 

29 

35 

3160 

35 

93 

90X0 

91 

45 

44X0 

45 

375 

368 

370 

371 

332 

372 

213 

aoo 

209 

187 

W2 

182 

636 

631 

631 

445 

439 

444 

121 

108 

116 

ns 

123 

125 

3 » 

330 

320 

■aoi 

50 

9 


Singapore 


AsioPKBnw 
CaabcaPoc 
ayDsyfc 
Cycte Carlo* 
Dab* Famin' 
DBS tartan 
DBS Land 
Fraser 8> Heave 
HKLand* 
jrod Mathesn * 
JradStratoric* 
KfiPOriA 
KewteBank 
KepptlFeh 
KwriLond 
betfe tartan 
OSUitem BkF 
Parfcwy Hds* 
5erofaa«ang 
Sing Air fort* 
SngLmd _ 
SlngPressF 
SlngTedi Ind 
5tegTeiHoan 
Tat Lae Bate 
UMlndustatri 
UtdDSeoBkF 
Wing Td Hdg* 
»jRU5L*03n. 


438 

430 

480 

426 

414 

4)6 

780 

495 

785 

7XS 

6.95 

685 

0X9 

0X7 

0X8 

14X0 

13X0 

13X0 

2M 

2X6 

160 

IM 

6x5 

675 

1.92 

UO 

1.75 

460 

422 

482 

131 

285 

125 

IS 

4.94 

170 

494 

172 

432 

486 

432 

2X9 

2X2 

2X2 

985 

9JB 

9.10 

440 

585 

£90 

3X6 

37B 

3X0 

4X2 

4X4 

456 

ICAO 

1048 

I0J0 

414 

4 

4 

2110 

21X0 

22 

168 

1X4 

1X7 

198 

186 

285 

2X2 

257 

2X0 

080 

9X3 

9X3 

9.95 

9.10' 

980 

102 

181 

1.9* 


nteintadra.n*n 

Mmotas 

22010 3132} 21910 21150 
2070 3030 3068 2040 


Paris 

Acor 

AGF 


CAG4fc»12.1l 
Pmrtoos: 288127 

1124 1098 1119 11* 
329 32SX 326.10 330 


Stockholm 

ABBA »l| 9150 

AseBJauen 201 197 2* 199 

SoA 137 I34J0 13450 134 

UasCopalk 2tt 219 275 219 

AtolT^ 280 27550 278 27558 


Ml 
Dtriei 
Dflt-tchIKang 
DahraBa* 
Dbm Haase 
DriMSK 
DU 
Denso 

East Japan Rv 
Steal 
Fanuc 
Fuji Bar* 

PUP Ptate 

FtkBw 

Hocft^unlBk 

HHdCM 

Hamto Motor 

IBJ 

IHI 

Itochu 

tto-Yokoda 

JAL 

Japan Tobacco 
MOO 
Kopna 
Kamul Etoc 
Kao 

Kaessoki Hvy 
KawO Steal 
OiUMpDRy 
WrinBreecry 
Krira State 
Komatsu 
KllMlD 
Kyocera 

Marubeni 

Mart 

MatauGomra 

Mateo Etoe Ind 

MokuEtecm 

MlbubbH 

MdsoWsWCh 

MBsrtbNEI 

MUsubbMEst 

Mitsubishi Hvy 

MBsubteki Mb 

MflsuteNTr 

Mdste 


1250 

570 

1730 

507 

m 

1210 

507 

mo 

72* 

22* 

2220 

501 

481 

497 

495 

457 

44U 

444 

4V> 

750 

706 

m 

727 

IM) 

IBM 

IBM 

I860 

334 

320 

33? 

.134 

7990 

79X 

2960 

7910 

7980 

7930 

79S0 

Tta 

2040 

7010 

7U30 

2020 

1890 

1860 

I860 

1860 

254U 

24W 

7570 

25(11 

593 

574 

893 

510 

965 

945 

Vtt 

949 

HR 

794 

310 

3QR 

£50 

HU* 

BN 

NO 

463 

436 

456 

4JU 

794* 


TWCe 

3070c 

26* 

7420 

7570 

24* 

599* 

5940c 

Wton 

39ftta 

1820 

1780 

1810 

1780 

4980 

4870 

4930 

4910 

615 

590 

59/ 

587 

51* 

50* 

5(80 

4990 

1420 

13* 

urn 

1470 

1040 

1010 

tOlO 

1040 

971 

944 

951 

969 

47* 

45W 

46* 

4650 

MTU 

1*0 

MW 

1090 

738 

730 

2 M 

7* 

745 

237 

245 

735 

6700 

6030 

6GB 

6211 ) 

360 

•M 

360 

VJI 

9** 

95U0B 

vnoa 

9850a 

im 

1770 

18* 

1900 

350 

373 

378 

387 

tm 

7190 

7190 

7180 

I860 

18JU 

IM 

i/n 

739 

237 

■ru. 

72* 

I/I 

163 

1*5 

157 

684 

677 

660 

671 

1010 

993 

1UM 

1000 

103 

99 

103 

10? 

665 

xn 

643 

397 

3S 

65* 

388 

yjo 

5650 

5690 

5660 

19* 

1860 

1870 

1870 

744 

736 

741 

341 

747 

7040 

226 

1980 

2020 

240 

MID 

1420 

37ft) 


3*0 

1810 

1770 

urn 

1780 

1040 

imo 

10* 

1(1* 

HIM 

1070 

low 

10* 

191 

in 

in 

184 

340 

xn 

314 


1550 


1.540 

15* 

5W 

498 

500 

511 

4J0 

416 

417 

416 

14* 

1550 

1SH1 

1540 

875 

855 

855 

870 


Sumttorao Bk 
Sumit them 
Sumkomo Elec 

SurrteMekrt 

SoraH Trust 
Toisho Pharm 
TokedoOwm 
TDK 

Trivial B Pm 
T okol Bar* 

Tokta Worn* 
TdrroEIPm 
Tokyo Eledran 
Tokyo Gas 
TrityuCwp- 

T oncn 

'Tappan PrM 
Toroylnd 
Tasmba 
Tastem 
Toyo Trust 
Turota Motor 
YamonoudU 
mioati.x 1000 


755 

850 

91* 

825 

1890 

375 

2750 

1840 

1270 

2450 

111 * 

K» 

1550 

316 

1810 

212 

750 

3340 

37* 

9ffl0 

1930 

651 

1240 

2390 

4870 

*2 

519 

887 

1750 

558 

549 

1240 

905 

3790 

3040 


720 750 

821 821 
6990 9040 
805 813 

1870 IS* 
325 325 

26* 2670 

18* 1840 

1240 1260 

2320 2320 

107* 109* 
B0C 835 
1510 1540 

TO 314 
1770 17* 

203 209 

716 750 

3180 3210 

3630 3650 

9710 94* 
19* 1920 
630 648 

11* 1240 

2320 2380 
4750 4750 

394 3* 

504 515 

BS9 870 
17* 1730 

541 550 

531 539 

1)50 12* 
77S 8(0 

3610 3640 
30* 3020 


1330 

238 

3350 

1340 

1360 

390 

125* 

585 

378 

197 

510 

113 

1660 

112* 

«7*b 

512 

276 

16* 

12000 

475 

7870 

1420 

358 

9000 

5510 

746 

B43 

9*0 

812 

18* 

367 

27* 

ia* 
1240 
74* 
110* 
797 
15* 
311 
1010 
2* 
695 
3200 
3660 
92a 
1890 
654 
1 1 B0 
23* 
4720 
299 
512 
848 
1710 
53B 
529 
12X 
775 
3730 
30* 


Mritjone* 

Mood 

Newbridge Not 
Norando me 
Morten Energy 
fittwsn Totom 
Nona 
One* 

Poirtn Pettn 

PetroCdo 

Placer Dome 

Poor Pettm 

Potash Scsi 

Renaissance 

Rjo Algoffl 

Rogers Cartel B 

5a»ramCo 

ShrfCdnA 

Stmcat 

TafcnronEny 

T«AB 

Telegtabe 

Telus 

Thomson 

TorDom Bank 

Trantatta 

TronsCda Pipe 

Trtmuk Hnl 

Trtzei Hort 

TVXGc*d 

Westawte Eny 


11.90 II JO 
22 7IJO 
52ta 49 
2415 7155 
1AU 16 
T30fc I24J0 
1170 7160 
28 27ju 
23W 23 

25Vi 24.70 
16J0 11* 

II HM0 


1)^0 Dta 
21-BO 21.90 
51 AO 41 
2165 74 
1630 Ilia 
1261* 124JU 
1060 1V0 
27Vi 771* 
23’u 23V. 

34J0 25.10 
16.15 15.70 
IOJO 10.95 


I15JD 715.15 71520 77515 
29 JO 2880 2895 29 

25 24'6 2414 2180 
1170 13V 13 AS 13A0 

45 4455 4465 441* 

77 JO 26fc 26.90 27.15 
4835 48 4530 47l» 

4311 42A5 4280 4430 
1835 1785 1815 17.95 
4595 4535 4595 451* 

33J0 33J1S 3355 3110 
39 3785 3785 39 

5485 541* 5455 5435 ■ 

7180 2155 2185 2130 
3085 30M 3090 3W. 

66 6510 6540 6SU 
3345 3330 3330 33(6 

1K » us no 
3110 3195 33 3 190 

171** 120 1 20* 12145 


Wellington msE^ohteOTJs 


Toronto 

ArilMCam. 

AMtoEwnr 
Mam Alum 
Anderson Erol 
BkJHHdreol 
Bk Nan Scotia 
BomdcGoM 
BCE 

BCTctoamuii 

rt- m 1 1 ■ 1 1 1 nti rum 

woctem rnorai 
BombrarierB 
ComecD 
CISC 

CdnNutlRoi 

CdnNaTRa 

Cdn Oedd P M 

Cdn PariOr 

Corn toco 

Daiasa 

Danttar 

Donohue A 

DuPontCdoA 

EdparBrascan 

EuroNevMnq 

FokteRte 

Fa Iconb ridge 

Ftabjnr Chad A 

FnmcDNnrado 

Gull Cda Res 

bnpakdOi 

Ena> 

S 

Lueuran Grout 
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2510 2580 
3880 37.90 
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6495 6540 
<570 67.40 
2445 2440 
45ft 4165 
43ft 4115 
3885 37J5 
2980 2985 
4145 41ft 
4520 4680 
65ft 68ft 
2985 29.95 
31 JO 3285 
3785 3745 
1980 19.90 

21.90 22 

10.10 9.90 

2385 2185 

3514 35ft 
2580 26 

16ft 1510 
312 317 

1780 1780 
19ft 70 
38ft 2840 
HUB 10.10 
8880 8780 
2490 24ft 
6245 6235 
18ft 1880 

33.90 3440 
lift 1480 

9340 9115 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 


PAGE 17 


■) 


ASIA/PACIFIC 


Seoul Seeks a Buyer 
For Its Ailing Banks 

Btii Foreign Firms Show Little Interest 


By Don Kirk 

Specialty the Herald Tribune 


>■-' “i > 


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SEOUL-— South Korea's plan to 
sell one of its two most troubled 
banks to foreigners may be easier 
said than done. 

The plan for the sale, broached by 
Finance Minister Lam Chang Yuel in 
response to criticism of the govern- 
ment’s huge purchase of shares in the 
debt-crippled banks, encountered a 
resounding lack of interest Tuesday 
from foreign bankers. 

Citibank, the foreign bank with 
by far the most extensive network in 
South Korea, squelched widespread 
rumors that it was interested in buy- 
ing a stake in either Seoul Bank or 
Korea First Bank as pan of a gov- 
ernment drive to keep the hanV-g 
from shutting down. 

“We are not now considering 
anything,” a source at Citibank 
said, reviewing a range of reasons 
why Seoul might find selling the 
banks almost impossible. 

The worst problem, said the 
source, who asked not to be iden- 
tified. was that “nobody really 
knows what is the quality of their 
portfolios.” Citibank, he said, 
would want "a complete review of 
every single loan” that either of the 
banks had made — an almost im- 
possible task in a system still 
shrouded in secrecy. 

Nonetheless, the finance minis- 
ter’s suggestion that a foreign bank 
might take over at least one crippled 
bank was partly responsible for the 
second rise on the stock market in as 


many days. The benchmark index 
rose IS. 46 points Tuesday, or 4.8 
percent, to 404.26. 

The rise in die stocks paralleled 
another day of recovery for die won 
— the first day after Seoul decided 
the currency could float freely rather 
than remain within a 10 percent trad- 
ing band. The dollar fell to 1,425.0 
won from 1,563.09 won Monday. 

Long lines formed at banks as 
customers, some of them carrying 
large amounts of SI 00 bills, waited 
to change dollars to won. Govern- 
ment officials, anxious to attract as 
much hard currency as possible, re- 
frained from asking the identity of 
those changing money even when 
they were carrying bundles of bills 
totaling as much as $100,000. 

Many analysts said they believed 
the volatile South Korean currency, 
which plummeted Friday as the dol- 
lar topped 1,800 won, was likely to 
stabilize near its current level. In- 
creasing numbers of South Koreans 
were expected to begin changing 
large amounts of foreign currency if 
the won managed to hold steady for 
the next few days. 

But the mood of optimism did not 
seem likely to persuade foreign 
bankers to buy banks that many ar- 
gue should close. 

Mike Brown, general manager of 
the Seoul branch of die First Na- 
tional. Bank of Chicago, reflected 
the -sentiment of many foreign 
bankers in remarks at a breakfast 
attended by the titans of South 
Korean business and industry. 

South Korean banks “should have 



out 



China Fears 
Turmoil Will 
Hurt Exports 


arphos SuvrrtAjWKC ftuKohoxr 

A woman staring out from a branch of Seoul Bank on Tuesday. 
The government which took over the bank, is seeking a buyer. 


known how dependent they were on 
volatile money-market funding to 
support longer-term loans and grow- 
ing trade finance,” said Mr. Brown, 
who is president of the American 
Chamber of Commerce here. 

“Either profitability needs to im- 
prove dramatically or debt Levels 
need to come down,” Mr. Brown 
told a meeting last week of the Fed- 
eration of Korean Industries, made 
up of the chairmen and presidents of 
the 30 largest chaebol , or conglom- 
erates. 

“Profitability and capital levels 
are too low to support current levels 
of bad debts,” he said, “let alone the 
higher levels of bad debts which are 
to be expected in a restructuring and 
slowing economy.” 

Other foreign bankers were re- 
luctant to go public with their views 
of the local banking system, but Mr. 
Brown appeared to speak for a wide 
range of his colleagues in his sweep- 
ing critique. 

Mr. Brown, snxprised that the text 
of his remarks was later made avail- 
able, declined to elaborate or answer 


Yen Faces Weakness, Even With Stimulus 


r. txptlnl b> Our Sug From PopjtrUn 

TOKY O — The latest attempt by 
the governing Liberal Democratic 
Party to come up with steps to calm 
economic jitters is not expected to 
produce the fireworks necessary to 
trigger heavy yen-buying, dealers 
said Tuesday. 

The- package, the full release of 
which was delayed a day until Wed- 
nesday, is unlikely to turn around 
the yen’s bearish trend, and the dol- 
lar could climb to 133 yen to 135 
yen as the focus shifts to the weak 
economy and financial turmoil in 
Asia, they said. 


The dollar finished Tuesday in 
Tokyo at 131.10 yen. “Looking at 
the way the yen has been reacting, 
the market has factored in die pack- 
age/' a dealer said. 

The party said Tuesday after mar- 
kets closed that it would propose 
950 billion yen ($7.26 billion) worth 
of tax cuts on corporate income, real 
estate and securities transactions. 

A day earlier, it had proposed set- 
ting aside 10 trillion yen to 
strengthen die government safety net 
for troubled banks. Many Japanese 
financial institutions are saddled 
with bad debts from the collapse of 


the “bubble” economy of the late 
1980s, when easy credit encouraged 
speculation in stocks and real estate. 

“From the contents of the pack- 
age we’ve seen so far. it may not be 
an instant remedy to help” the ailing 
financial sector and economy, said 
Noriyuki Mizukami of National 
Westminster Bank PLC. 

Japanese stocks rose on news of 
the delay of the package on spec- 
ulation the LDP may include some 
new steps. The benchmark 225-issue 
Nikkei Stock Average gained 75.82 
points, finishing at 15,985.21. 

(Reuters, AP. Bloomberg) 


questions, saying that his speech was 
“not for worldwide consumption." 

An overriding issue among for- 
eign banks when they consider the 
possibilities of purchasing a stake in 
South Korean banks is that of trans- 
parency — obtaining full records of 
all transactions. 

“Questionable acts of collusion 
between the government, hanks and 
corporations fuel the foreign per- 
ception that business practices are 
not transparent.' ’ Mr. Brown said to 
the federation. 

The “path to market confi- 
dence,” he said, “is Korea's com- 
mitment to change and economic 
transparency.” 

Yet another reason for the lack of 
foreign interest in local banks is 
their reputation for high labor costs 
and technological inefficiency. 

Citibank, with 11 branches in 
South Korea, finds it possible to 
operate a typical branch with nine or 
10 staffers — far fewer than equiv- 
alent South Korean branch banks, 
and it is very difficult to lay off 
workers in South Korea. 

Rather than buy into a troubled 
South Korean bank. Citibank envi- 
sions expansion on its own — either 
by opening branches or buy taking 
over individual entities of troubled 
banks such as a credit card portfolio. 
Citibank for years has been the only 
American institution that does gen- 
eral retail banking in Seoul — and 
has reportedly been interested in ex- 
panding its operations, as it has done 
in Hong Kong and Southeast Asia. 

“Everything about here is going 
to open up big-time,” said the Cit- 
ibank source, but much depends on 
whether the National Assembly 
passes a banking reform bill that 
would give the Bank of Korea a 
badly needed supervisory role. 

“These banks are not heavily su- 
pervised," the source said. “They've 
been talking about this legislation for 
a year. Now they have to do it." 


Reuters 

BEIJING — Weaker currencies 
in Southeast Asia and rising trade 
friction are likely to dampen China’s 
exports in 1998. Trade Minister Wu 
Yi was quoted as saying Tuesday. 

“Compared with 1997, China’s 
imports, exports and the use of for- 
eign capital will face greater chal- 
lenges next year,” she said in an 
interview with the official People's 
Daily. 

Miss Wu’s comments came the 
same day as the release of a report by 
the State Planning Commission that 
said Beijing would continue to try to 
expand exports next year bur would 
seek to reduce its “excessively large 
surplus” by encouraging imports. 

China will further adjust its im- 
port policies and encourage imports 
of high-technology products next 
year, the commission said, accord- 
ing to the report published in the 
Shenzhen-based Securities Times. 
The newspaper gave no details, but 
officials have said that Beijing was 
preparing to restore waivers of du- 
ties on imports of high-technology 
equipment. 

China posted a trade surplus of 
$40.23 billion in the first 1 1 months 
of this year compared with a surplus 
of $13.93 billion in the like period 
last year. The surplus for November 
alone was $4.65 billion, official me- 
dia have reported. 

Some foreign and local econo- 
mists have said that export growth 
will slow next year because of com- 
petition from Southeast Asia. While 
currencies in such countries as Thai- 
land. Indonesia and Malaysia have 
tumbled this year, the Chinese yuan 
is facing upward pressure from the 
surging trade surplus and a steady 
inflow of foreign funds. 

Beijing has ruled out a devalu- 
ation of the yuan to support its ex- 
ports or attract foreign investment. 
Economists have said any devalu- 
ation of the yuan would further ag- 
gravate trade friction with the 
United States. 

Despite strong export growth and 
steady inflows of foreign invest- 
ment this year, alarm bells are 
ringing in Beijing because of the 
currency crisis. 

"The composition and the mar- 
kets of goods exported by China and 
Southeast Asian nations are identic- 
al. so the financial disturbance will 
reduce the’ competitiveness of our 
exports,” Miss Wu was quoted as 
saying. 


Investor’s Asia 


Singapore 

Straits Times 


Tokyo 
Nikkei 225 



J A S 0 N 0 
1997 


J A S O N D 
1997 


J A S O N D 
1997 


Exchange 

Index 

Tuesday 

Close 

Prev. % 

Close Change 

Hong Kong 

Hang Seng 

10,346.38 

10,435.15 

■0.85 

Singapore 

Straits Times 

1561.75 

1.600.64 

-2.43 

Sydney 

Ait Ordinaries 

2,514.10 

2,500.90 

+0.53 

Tokyo 

Nikkei 225 

15,985^1 

15.909.39 +0.48 

| Kuala Lumpur Composite 

544.31 

558.47 

-2.54 

Bangkok 

SET 

3702B 

365.73 

+1.24 

Seoul 

Composite index 

404.26 

365.80 

+4.73 

Taipei 

Stock Market Index 8,193.65 

8.241.49 

-0.58 

Manila 

PSE 

1,801.38 

1.819.67 

-1.01 

Jakarta 

Composite index 

356.39 

359.54 

+4.96 

Wellington 

NZSE-40 

2,332^6 

2,330.97 

+0.06 

Bombay 

Sensitive index 

3,424.87 

3.367.56 

+1.70 

Source: Tetekurs 


fiu.'iTLiiii<iu( HtJJ Tnr-uif 

Very briefly: 


• Deutsche Morgan Grenfell cut three jobs in its Jakarta 
office, including that of Tan Yong Seng, the company's 
country manager for Indonesia. The company said the move 
was the last step in its Asian restructuring. 

• Malaysia’s Ministry of Posts and Telecommunications 
said the economic down mm had not affected interest in the 
country's so-called Multimedia Supercurridor ci instruct ion 
project, especially among foreign companies. 

• The .Asian Development Bank has approved the following 
loans: $191.4 million to the Philippines for a power-dis- 
tribution project. $150 million to India to help fund a project 
to transport liquefied petroleum gas. and $100 million to 
Kazakhstan to help reform its pension system. 

• Volvo AB. the Swedish carmaker, has cut its estimate of car 
sales to South Korea in the current year to between 500 and 550 
from an earlier estimate of 1 .300. 

• DirecTV Japan Management Inc., a satellite broadcasting 
venture led by Hughes Electronics Corp. of the United States 
and Matsushita Electric Industrial Co. of Japan, has in- 
creased its capital to 31.87 billion yen (SI67.1 million) from 
20.80 billion yen. Hie company added that IBM Japan Ltd. 
had become a partner in the venture with a 0.22 percent stake. 

• Sanwa Bank Ltd. of Japan and Merrill Lynch & Co. of the 
United States have agreed to join forces in the mutual fond 
business in Japan as part of their tentative deal to take cquitv 
stakes in Yamaichi Investment T rust Management Co. a unit 
of the failed Yamaichi Securities Co, Japanese TV reported. 

• Toyota Motor Corp. said it would increase the number of 
models using its D-4 direct-injection system, a gasoline engine 
format that substantially improves foel efficiency and cuts 
emissions of so-called greenhouse gases. Over the long term, 
the company wants to equip half its cars with the system. 

• Cathay Pacific Airways Ltd. shares tumbled to a nine-year 
low after it postponed a decision to exercise options on 25 new 
aircraft; the stock slipped to 5.85 Hong Kong dollars t75 U.S. 

cents), down 20 cents. AFP. AP. Bloomberg . Bridge News. Reuters 


Yamaichi’s Property Unit to Close 


The Associated Press 

TOKYO — Yamaichi Real Estate Inc. filed for bankruptcy 
Tuesday, saying it could not survive after its affiliate, Ya- 
maichi Securities Co., failed last month, the company said. 

The realty company, the second member of the Yamaichi 
group after the brokerage to foil, had debts of 335 billion yen 
r$2.56 billion), said a spokesman, who spoke on condition of 
anonymity. 

The company's primary basiness was m a n agi n g properties 
for Yamaichi Securities. The brokerage, one of Japan’s “Big 
Four/ ’ failed Nov. 24 after trying for years to juggle bad debts 


left from the coliagse of the Japanese real estate and stock 


markets earlier in the decade. 

Yamaichi Securities executives have admitted trying to 
cover up debts through illegal trading and accounting prac- 
tices. 


Worldwide MVGAS 
“MMM - 96” 


for those who can count 
their money! 


The Project “Campaigner” 

Our WWW-address in the Internet: 


http:// 195.5.141.10 or 
http: / / www.volna.ru 


Asahi Plans 
China Venture 
With Tsingtao 


Renters 

TOKYO — Asahi Brew- 
eries Lid., said Tuesday that it 
would set up a joint venture to 
produce beer in Shenzhen. 
China, with the Chinese beer- 
maker Tsingtao Brewery Co. 
and three other companies. 

The Japanese trading 
companies Itochu Corp. and 
Sumikin Bussan Kaisha Ltd. 
and the Hong Kong-based in- 
vestment firm Pine Seal In- 
vestment Ltd. will also par- 
ticipate in the venture, which 
will be capitalized at $30 mil- 
lion. Asahi said. 

The total cost of invest- 
ment tty the five companies is 
S52.73 million, it said. 

It will be the first time that 
Tsingtao, China’s second- 
largest beerroaker. has set up 
a joint venture with a foreign 
company. Asahi said. The 
new company will be jointly 
managed by Japanese and 
Chinese officials, it added. 

Through the venture. Asahi, 
the No. 2 brewing company in 
Japan, will be able to tap into 
the promising growth of the 
Chinese beer market, while 
Tsingtao will leant Asahi’s ad- 
vanced draft-beer production 
technology. The beetmakeis 
also plan to exports production 
from the Chinese venture to 
Southeast Asian markets. 

Asahi will take a 19 percent 
stake in the venture, while Ito- 
chu and Sumikin Bussan will 
lake a combined 15 percent, a 
spokesman for Asahi said. 
Tsingtao will take a 35 
rent stake, and the Hong I 
rompany will take the rest 

The new company will 
Hilda plant in Shenzhen in the 
xHithcm province of Guang- 
long to produce Asahi’s main- 
iiay. the Super Dry brand, and 
rsmgtao beer. Production will 
tart in early 1999. 


The Most 


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The Living Legend 



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19, rue de Saint-Jean - case postale 120, CH-I211 GENEVE 18 
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PAGE 18 





































































































INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 17, 1997 


RAGE 19 







































































































































S lierdb^SrUnrae 

Sports 


PAGE 20 


WEDNESDAY, DECEMBER 17,1997 



It’s the Chic of Araby 
For FIFA, but Wrong 


Saudi Tournament Comes at a Bad Time 


By Rob Hughes 

International Herald Tribune 


Finn Christian Jagge of Nor-, 
way rejoicing as the snow fails. 


Jagge Wins Slalom 


skiing Finn Christian Jagge, a 
former Olympic champion, cap- 
tured a men's World Cup night 
slalom in Sestriere, Italy, with two 
faultless runs through a heavy 
snowfall and under floodlights. 

Jagge, a 3 1 -year-old Norwegian, 
captured his fourth World Cup ca- 
reer victory Monday by beating 
Th omas Sykora of Austria by 0.34 
seconds and a second Norwegian, 
Hans-Peiter Buraas, by 0.42. 

Jagge, third behind the Slovenian 
Jure Kosir and Sykora in die first 
run, clocked a combined winning 
time of 1 minute 51.43 seconds. 
Kosir missed a gate and did not 
finish the second run. 

Alberto Tomba rallied from 
20 th, after the first run, to fourth 
overall. (Reuters) 


L ONDON — Who will spare the 
world 's finest players, or the most 
committed clubs, from FIFA mis- 
rule? Soccer’s international governing 

body is currently overseeing an eight- 

nation charade in Saudi Arabia that is 
depriving some of Europe's richest 
teams of star players at a crucial stage of 
their winter programs. 

The FIFA Confederations Cup is a 
hollow happening in an opulent setting. 
It is boused in the $568 million King 
Fahd stadium in Riyadh, a jewel of a 


World Soecit 


West ladies in Final 


cricket West Indies beat India 
by 41 runs Tuesday to reach the 
final of the Champions' Trophy in 
Shaijab. 

The West Indies batted first and 
made 229 for six wickets in 50 overs 
as Sherwin Williams scored 105 not 
out Victory alone would not have 
been enough to put India into Fri- 
day ’s final against England. It had to 
reach its target in 45 overs to beat the 
West Indies run rate bur was bowled 
out for 188 in 42.2 overs. Sauruv 
Ganguly hit 70 as India reached 126 
for one wicket before its batting 
collapsed ( Reuters ) 


UEFAPicks Sites 


soccer Amsterdam, Stockholm 
and Paris are set to host next year's 
finals of the European club cups. 

UEFA said Tuesday that the 
Champions’ League final is sched- 
uled for the Amsterdam Arena on 
Wednesday May 20, 1998, subject 
to Dutch organizers renouncing 
commercial rights at the stadium. 

The Cup Winners Cup final will 
be May 13 at Rasunda Stadium in 
Stockholm. It will be the first time 
Stockholm has hosted a European 
final. The UEFA Cup final is May 6 
in Parc des Princes in Paris. In 
previous years, die UEFA Cup final 
was played over two legs at the 
grounds of the finalists. ( AFP) 


stadium. But ro judge from television, 
the organizers are having to play amp- 
lified tapes to raise the levels of ap- 

J la use even when Ronaldo, Romano, 
uninho and the rest of the Brazil team 
are on the turf. These stars are in the 
desert by order. 

Joao Havelange. FIFA's president, 
has decreed drat tiiis tournament right at 

the start of a World Cup year, right in the 
middle of a European club season, is 
officially a major event The release of 
players is compulsory. 

Havelange should be retiring soon 
anyway, so what does he care? FIFA’s 
medical advisers warn that the endless 
demands stretch players’ sinews. Sepp 
Blatter, the FIFA general secretary, 
stretched credibility even further who) 
he gave his opinion of the club- vers us- 
co untry problem; 

"We are still working on a solution. It 
is a coordinated calendar for interna- 
tional matches, but this will only be 
accomplished when die various con- 
tinents play their championship at the 
same time. As long as you have major 
league c hamp ionships with more ™»" 
18 clubs, like Spain or England, you are 
never going to have enough free dates to 
allow players to compete for both then- 
clubs and countries. 

"An optimum number of clubs,” he 
added, referring to the top divisions in 
each country, ‘"would be 16.” 

Hold it AC and Inter Milan, 
Manchester United, Real Madrid and 
Bayern Munich, the full-time employ- 
ers of the star talents, must already free 
these players to international teams far 
at least seven matches a year. These 
clubs are now being told they must cut 
back on big-eaming matches. Yet' they 
will also have to release their stars, 
presumably without compensation, sev- 
en days before any event that FIFA 
designates as a major tournament. 

I fear anarchy is afoot Inter Milan 
won handsomely Sunday against Roma, 
with Ivan Zamorano, the captain of Chile 
who gets scant chances with his club side 
while Ronaldo is around, scoring im- 
pressively. But in England, Aston Villa 
lost Monday a vital league match against 
Manchester United when its stand-in 


goalie, Michael Oakes, let a shot from 
Ryan Giggs pass through his legs. 

Villa is bound to ask whether us No. 1 
keeper, Mark Bosnich. would have 
saved that shot Less than 24 hours later, 
anyone who bothered to check would 
have seen Bosnich beaten, between his 
legs, by he only goal of a tepid contest 
between Saudi Arabia and Australia. 

Bosnich is he senior of Villa’s two 
goalkeepers, but as he looked up to he 
heavens above he spectacular Bedouin 
.tent-style roof of he King Fahd arena, 
he might have wondered what he was 
doing so far from bis real duty. 

Australia was losing to the Saudis’ 
first goal in its three games in he tour- 
nament. Australia was ending its 17- 
game unbeaten run under coaich Terry 
Venables, although he Aussie feder- 
ation was no doubt happy to pick up he 
$750,000 check guaranteed to all eight 
starters just for showing up. 


G ERMANY, the champion of 
Europe, refused to compete, 
hough German clubs, like 
everyone else, couldn’t prevent players 
in their employ from being hauled 
through the desert For the eight coun- 
tries hat accepted the king’s ransom — 
B razil. Uruguay, Saudi Arabia, the 
United Arab Emirates, Mexico, Aus- 
tralia, South Africa and he Czech Re- 
public — here is obvious financial en- 
ticement to play, and possibly some 
World Cup preparation to reap. 

But as they run in a stadium where the 
majority of the 66,862 seals remain 
empty, we must suppress a yawn and 
remember that this is FIFA, attempting 
to foster he sport on developing con- 
tinents. It would be easy to applaud if 
his tournament were some less wealthy 
place at a better time. 

The problem is hat a better time does 
not exist 

There is, as the physicians keep say- 
ing, a need not only te lessoi the load 
games players play, but also- to create 
pockets of rest — for mind, body and 
soul — to refresh the sport’s most 
coveted individuals. 

The authorities hear he term 
"burnout” and they blame he greed of 
he paymasters, the chibs. But a true 
guardian, like a true father, protects its 
young from overexerting themselves. Let 
us hope hat, come a new figurehead at 
FIFA next summer, we get someone who 
really cares about players and sees hem 
as something other titan cash cows. 

The players in heir short careers may 
be cashing in on post-Bosman “free- 
dom.” Agents may be squeezing clubs 
for short-term gain. FIFA, which licenses 
the agents^m ay be profiting all round- 

right to see standards maintained. 

It’s a naive hongbt, about as worthy 
as a grain of sand in a desert. But some- 
body has to voice i L 
Rob Hughes is on the staff of The 
Tunes. 


Alan Hudson in Hospital Workout Regimen Killed Wrestler 


soccer Alan Hudson, a former 
England international, was in crit- 
ical condition Tuesday after being 
hit by a car while walking home in 
the East End of London. 

Hudson, 46, who played for 
Chelsea, Stoke and Arsenal, under- 
went emergency surgery for internal 
and bead injuries after being struck 
Monday night. His family said Hud- 
son had not regained consciousness 
after a 1 4-hour operation to remove 
a blood clot from his brain at the 
Royal London Hospital. (AFP) 


The Associated Press 

YPSILANTT, Michigan — The death 
of a University of Michigan wrestler last 
week was caused by excessive training 
while trying to lose too much weight too 
fast, according to autopsy results. 

Jeff Reese, 21 , was engaged in a two- 
hour workout in a 92-degree-Fahrenheit 
(33-centigrade) room dressed in a rub- 
berized wetsuit when he collapsed Dec. 
9 in Ann Arbor and later died, said Dr. 
Bader Cass in. a medical examiner. 

Reese began a program a "couple of 
days’-’ prior to his death to shed 17 
pounds (7.7 kilograms) so he could 


wrestle in the 150-pound weight class, 
Cassin said. “He probably got very 
close, if not to his goal weight,” he said. 
"Unfortunately, it cost him his life.” 

Reese’s death was caused by a break- 
down of skeletal muscle under conditions 
of excessive exercise, which, combined 
with dehydration, resulted in kidney fail- 
ure and heart malfunction. When Reese’s 
muscle mass broke down, it flooded his 
bloodstream with adds that caused his 
kidneys to shut down. 

It was the third death in six weeks of 
a college wrestler undergoing a rajrid 
weight-reduction program. 


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Owner and 
Officials in 
Senna Death 


CeafUedby OarShiffFm DUpm** 

IMOLA, Italy — Frank Williams,' 
owner of the Williams Fonnula One , 
and five other defendants w era 
acquitted Tuesday of manslaughter ' 
charges in the 1 994 death of the Brazil!- . 
an driver Aynon Senna. 

None of the defendants was in the 1 
makeshift courtroom near-fee Imola cjr-'. . 


cuit in northern Italy where Senna died . 
in the San Marino Grand Prix on Maytl , 

1994. Their legal teams smiled and con- 
gratulated each other when Judge Ant- 
onio Costanzo read the verdict 
The five others charged were Patrick 
Head, the Williams technical director; 


Adrian Newey. former chief designer; 
Federico Bendmelli, the head of. the 
company that rented the Imola track. 
Roland Bruynseraede, the former cir- 
cuit inspector of Federation Interna- 
tionale de I’ Automobile, and Giorgio •. 
Pn ggi, then clerk of the course. 

Senna was driving a Williams . car 
when he slammed into a concrete wall oa 
the seventh lap of fee San Marino race. 

In an about-face, the lead prosecutor, 
Maurizio JPassarini, asked last month. 
tha t the manslaughter charges against 
Williams and the three track officials be 
dropped. He said Williams should be 
excused “for not having committed the 
offense.” 

Prosecutors also moved for acquittal 
of fee three race officials in their final 
arguments last month. 

Passarini asked for one-year suspen- 
ded sentences for Head and Newey, 
saying tha t their alleged errors had ben 
"microscopic.” 

Costanzo decided to free all six men. 
The reasons for his decision will be,* 
published in 90 days, court officials'# 
said. Passarini will then have a further . 
90 days to appeal. ' “ . 

The prosecutor said he would read the 
judge's explanation of fee verdict before 
deciding whether to appeaL Passarini 
said the only appeals he would consider 
filing were agains t the acquittals of Head 
and Newey. - 

Peter Goodman, an attorney for Wil- 
liams and Head, said, “I’ll be very 
surprised if we ever do know exactly 
what caused” fee crash. 

The prosecution alleged that a poorly 
weldedT steering column broke as Senna 
entered the Tamburelio curve of the 
track, causing him to lose control of his 
car and slam head-on into a concrete 
barrier. 

Williams said at the trial in October 
feat his company did not believe feat the 
column had broken. In the weeks lead- - 
mg up to fee race, it was cut, expanded 
aod rewelded to satisfy Senna’s demand 


i«®8. 


taoD mL^Aurtu / 

Hussein Sulaymani of Saudi Arabia sliding in to tackle Robbie Slater, No. 
7, of Australia in Riyadh on Tuesday. Saudia Arabia won the match, 1-0. 

Brazil Beats Mexico, 3-2, 
To Reach Cup Semifinals 


Reuters 

RIYADH — Brazil beat Mexico 3-2 
Tuesday in fee Confederations’ Cup, 
putting it at the top of Group A Aus- 
tralia finished second, despite losing 1-0 
earlier to Saudi Arabia. 

The two advance to the semifinals 
Friday, while Mexico and Saudi Arabia 
were eliminate d. 

Mexico needed a draw to qualify. It 
played a defensive game for the first 40 
minutes . until Pavel Pardo fouled 
Brazil’s Falvio Conceicao. Romano 
converted the resultant penalty. 

Mexico adopted a more attacking ap- 
proach in tiie second half, and 
Cuauhtemoc Blanco tapped home tire 
equalizing goal in the 52d minute. 

Brazil regained the lead in fee 58th 
minute when Denison pounced on a 
loose ball and scored. 

Defender Junior Baiano added a third 
goal eight minutes later after a storming 
ran that he finished with a ferocious shot, 
from a narrow angle. 


In Hv- last minn te Ramon Ramirgg. a 

Mexican substitute, coiled a free-kick 
mm fee conrer of fee Brazilian goal. 

Germany Third division Emtracht 
Trier, which had already beaten Bo- 
russia Dortmund, the World Club cham- 


pion, and Schalke, fee UEFA Cup hold- 
er, reached the semifinals of the German 


Cup on Tuesday. 

It beat another amate ur ream, Wald- 
hof Mannhe im, 1-0. Diik Fengler 
scored tire w innin g gpal four minutes 
into the second half . 1 ’ 


■ A Seedy Drag-Testing Story 

The Brazilian club Inlemacional said 
Tuesday that one of its players had 
failed a dope test because he had eaten 
bread rolls covered in poppy seeds in the 
team’s hotel on the morning of a game, 


Reuters repotted from Rio de Janeiro. 
Midfielder Anderson tested positivi 


Midfielder Anderson tested positive 
for morphine after a Brazilian cham- 
pionship game, fee Brazilian Football 
Confederation announced last week. 


for more cockpit space. 
At the trial’s start. 


At the trial’s start, fee prosecution 
also charged that the course had main- 
tenance problems. (AP. Reuters, AFP) 




i! 


Scoreboard 


| BA 

S K E 

T B A L 

m 

NBA STANDtMQS 


usnn coNFntnsci 

AILANTTC DIVTSION 



w 

L 

Pd 

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Miami 

15 

6 

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__ 

Ortondo 

16 

6 

667 

!A 

New York 

13 

9 

-571 

W, 

Nm* Jersey 

12 

10 

J45 

3V6 

Boston 

10 

12 

ASS 

6V4 

WCStWIylCffl 

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14 

^17 

Sfi 

PMxMphk) 

6 15 

csmuLavisioN 

2V, 

.9 

Atlanta 

18 

5 

283 

— 

Cbartotte 

14 

7 

Ml 

3 

Clovelond 

14 

7 

M 

3- 

Incfitmo 

14 

8 

£36 

M 

Otago 

•14 

9 

409 

4 

Milwaukee 

11 

11 

£00- 

6V, 

Detrafl 

11 

12 

MB 

7 

Toronto 

2 

21 

an 

16 


NHL Standings 


lumconn 

KMCK 

ATLANTIC [HVBtON 


* L.T 

pt* i 

New Jersey 

22 9 0 

44 

Tiwooeipnja 

19 9 6 

44 

Washington 

15 12 6 

36 

N.Y. Islanders 

13 15 4 

30 

N.Y. Rwigers 

9 14 11 

29 

Flortba 

11 17 5 

27 

Tampa Bay 

6 21 4 

16 


(Some. LncroW TWrf P«M: T- Johnson 7 
(Mocoun, Stmdln) Shots oh go*.- T- 3-11- 
2S. C- 8-13-14-35. SooGos: T-POMl C- 
BUngton. 

Ins Aagefes 0 ft 0—0 

Va a cowr 3 3 1—7 

Hrsf Period: V-Bwo IP (MogBny, Babydi) Z 
V-8*« 20. i V-Gdnos 4 (Messieri Second 
Porto* v-UMen 6 (Gertnss) S V-Bire 21 
(Masstor, Bobych) Cpp). & V-Sadetwnl 6 
COdpd, Moflflny) TWrt Period: V-Odpck 2 
(Bunv MnM Shots os goal: LA.- 64- 
9-33. V- 11-16-10-37. GoaSts: LA -Phot, 
OWbot.V-lrba. 


FOUR DAY MATCH, FMALIMUT 
TUESDAY, M DEVONPOHT. AUSTRALIA 

Tasmania 1st Inntogs: 535-5 dodared 
S. Africa 1 st innings: 40M dedaied 
Tasmania 2d innings.- 147-7 dedoml 
tov*mtght27-G) 

S. Africa 2nd innings: 94-2 
Result: Match drawn. 

OIMIWOH»T » OHfT . 


NORTHEAST DIVISION 
W L T PIS 
W 10 6 42 
18 13 4 40 


16 12 .5 37 


NFL Standings 


TUESDAY, M SHARJAH. UAE 

WesNmfles: 22P6 {50avml 
India 188 (422 ovm) 

Resufc West India m by 41 im 
Wot India to face England In Anal. 


14 15 4 
12 16 5 
10 15 6 


NEWEST DM8KM 



W 

L 

Pet 

GB 

Houston 

12 

7 

432 

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Utah 

13 

9 

J91 

<A 

San Antonia 

12 ‘ 

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£45 

m 

MkweMto 

9 

12 

-429 

4 

VarjccaWT 

9 

14 

391 

5 

DaOcs 

5 

17 

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8K 

Denser 

2 

19 

ms 

11 


MCWSC mVCBON 



Seattle 

If 

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783 

— 

LA-Lakets 

17 

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773 

'6 

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13 

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Portksid 

13 

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619 

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4 

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200 

121* 

LA. CUppcrs 

4 . 

19 

.174 

14 


Colorado 

Los Angelas 

Anaheim 

Edmonton 

Son Jan . 

Calgary 

Vaneoimr 


CENTRAL DIVBIOti . 
W L T PtS 
22 9 4 48 

19 8 6 44 

20 12 3 43 

13 14 6 32 

10 16 6 26 

10 16 5 25 

MCSSCDIVBION 

W L T PtS 
18 8 9 45 

12 14 6 30 
. 12 15 6 30 

11 16 7 29 

12 18 3 27 


New England 
Miami . 

N.Y. Jeb 

Buffalo 

fadianopoBs 


7 -PWsowgit 

T-Jocfcsoavtto 

Tennessee 

Batthnare 

Cindrmafl 


9 18 7 25 
10 19 4 24 


x-KansasCBy 
/-Denver 
Seattle 
Oakland 
San Diego 


ea*t 

W LTPtt 
9 6 0 400 
9 6 0 ,600 
9 6 0 600 

6 9 0 400 

3 12 0 J00 
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71 4 0 J33 

10 5 0 667 

7 8 0 467 
6 B 1 433 

6 9 0 400 
WEST 

12 3 0 400 

11 4 0 J33 

7 8 0 467 

4 11 0 267 
4 11 0 .267 


Manchester United 1, Aston VttoO 


OUARTBVBUL - 

Etntradd Trior 1, WaMhof Mannheim 0 


OR OOP A 
Saudi Arabia 1. Australia 0 

Brazil & Meeks 2 


FtdarioipMa 18 2] U 28- 83 

j Boston 19 22 32 27—100 

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i 7 14: B: Mercer 7-16 6-8 2d Waiter 7-14 34 
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Asebtt— PModetpMa 17 Uartaon 8), 
Boston 24 (BIBupS ffl. 

IhAom 29 U 25 28— IDS 

Toronto a 28 17 »-i0i 

! fcaM*ar5-121M02ZRc»5.75615L-T: 
annoy 14-B M 28, flieilrtl51554 16. 
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44 ttLMDJer to. Asstots-fndatn X 
(Jackson 8), Tomato 39 (Sloadandre 15}. 
DM 37 18 19 22— 86 

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U: Malone 1 1 -26 4-1 0 26, Keefe M 66 1« 
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13, Murray 4-11 4-5 11 Rekaands— Utah 57 
(Mtdono 133. W ost Un gton 59 (Daefs 13). 
AsMs-Uiafi 25 (Mdfeoc. EUay 6L 
Washington 22 (Striddml 13). 

Wioote 25 18 21 46—104 

CWaigo 29 37 17 2MH 

PeMcDms 10-14 34 2X Cabanas B-1864 
Zb c- Jordan 10-23 11-1231, Kukoc 9-1624 
23. Bs bo umh Pt w cn l s S (£efaa8os 10), 
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A flmrta 21 33 23 22—99 

Pottad 25 22 19 24— 96 

A: Lneftner5-l 39-10 19. Corbin 9-140-019, 
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6 2tl Wotae 7.1024 16. SsbaUrts-Aiksife 
46 (Laritnsr 13L Portland SO (Trent *, 

Assists— Artarto 18 (BtaytooKOLPofttent >7 

(Rider*. 


Borian 2 3 1-6 

Ftorfda 1 0 1—2 

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Cartert (pp), 1 B+tetare 7 (Donato, AKson) 
Secssd Ptrtafc B-Donato 14 (Hetnze, 
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Vanbiesbreuck, RBzpatridc. 

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(pp). Second Pario* None. Third Parted: p. 
Kk8t5 (Brtmtftnouc DateteM) Shots oa 
goafc P- 12-8-7—27. M- 5-11-5-21. GotAas: 
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RAIIOKAlCONf 

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x-N.Y. Giants 
Wtobbigton 7 7 1 joo 

PWkKJetpWa 6 8 1 433 

‘ 6 9 0 400 

Arizona 312 0 

CBmtAL 

»«™wBar 12 3 0 are 

y-Tompo Boy 9 6 0 600 

Detraf t 8 7 0 £33 

8 7 0 533 

CNteto 411 0 MJ 

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x-5on Frandsco 13 2 0 M? 

Cnn * B0 7 8 0 Ml 

Afinida 7 8 0 Mr 

New Orleans 6 9 0 MO 

SL Loots 411 0 .267 

x-won division title 
Y-Cfindied playoff berth 

■BWIMrsoMM 

San Fnmdsco 34 Denver 17 


W L T PO. 
9 5} ^33 


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y-TarnpaBay 
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7 8 0 467 
> « 0 MT 
* 9 0 400 
411 0 J67 


AHSIOCAH LEAGUE 

Baltimore— A greed to lams wfflt LHP 
Norm Otartton on nrirnr-feague eaatrad. 

axvcLAUD-Anretd to terms vdtoi M 
Travis Fryman on fryearcanhad. . . 

KANSAS crnr-Agreed to toms wtfii 38 

Doan Pabner on l-ynr contract MX aprtM- : 

Oakland— H eteased OF Patrick Lomm 
SEATTLE— Agreed to term* ym Cltt. 
Wtotiiw on 1-yeor contract Released |RF 
Brent Gates and OF Lee Tinsley. 

NATIONAL LEAGUE " 

aNOMNAn-Aimounoed the re 3 lgolllWt 9 , 
JulanMocfc sGwdng director. 

roMUDA-Tioded RHP Itarin Braaa to 
Son Diego tor RHP Rotaei Medina Ltff 
Stove Hoff and IB Date Lee. 

PHILADELPHIA— Acquired RHP Mte 
Wokh ham H,Y. Mels for LHP HactorM* 
«w»- Agreed to terns wfth LH P Bifly mw» 
on fflinar4eQoue contract Named BUD** 
■nanagerafctemwalK FSL 
PtTTSBUbwL-Acqiftmd RHP MvtsrMir 
ffwn Oakland far cash. Retaa«d Iff 
Steve Cooke. 


World Cup 


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PAGE 21 


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The Associated Press 

A new arenahas given the Washington 

Wizards a new home-court advantage 
' The Wizards lost their first five home 
games this season at US Airways Arena 
in Maryland. Then they moved to the 

NBA Roundup - 

"MCI Center in downtown Washington, 
where they improved to 5-0 Monday 
night with an 88-86 victory over the 
Utah Jazz. 

' Juwan Howard scored 21 points and 
•Rod Strickland had 13 points and 13 
assists for Washington, winch re- 
covered after blowing an 11-point 
fourth-quarter lead. “It was an ugly 
game,’' Strickland said. “1 don’t know 
if we played that great, but we were able 
“to sustain, out effort and play tough on 
the defensive end." 

Despite shooting only 35 percent 
from the field, Washington snappy a 
three-game losing streak. 

Celtic* too, Tows 83 In Boston, Ron 
Mercer scored 20 points as the Celtics 
“beat Philadelphia, which played without 
Allen Iverson, its suspended star. 

Iverson was serving a one-game ban- 
ishment for missing a practice, and the 
76ers couldn't handle the Celtics' press. 
Philadelphia committed 28 turnovers, 
including 1 1 during the decisive third 
.‘quarter when Boston took control with a 
21-3 run. 

1 Jerry Stackhouse led Philadelphia 
with 25 points. 

, Iverson missed practice in New York 
.on Sunday, a day after the Sixers lost to 
the Knicks, 95-83. Larry Brown, the 
Philadelphia coach, said before the 
Celtics game that be expected to have 
'Iverson available, but the Sixers vice 
president of basketball administration, 
Billy King, announced the suspension. 

The 22-year-old point guard watched 
_toe game on the Sixers’ bench in street 
.'clothes. Afterwards, he declined to 
comment, instead bobbing his head to 
.music coming through hzs headphones. 

Eric Montross. the Philadelphia cen- 
,ter. said the players supported the de- 
cision. “The rules have to be en- 
forced,’’ he said. 

Pacers 108, Raptors 101 Reggie 

Miller scored 22 points and Jalen Rose. 
a reserve, bad 15 points and seven as- 
sists as Indiana beat Toronto for the 10th 
straight time. 

Marcus Cam by scored a season-high 
.’28 points for the Raptors, who fell to 2- 
21 with their 10th straight home loss. 

Butts in, son* 104 In Chicago, Mi- 
chael Jordan scored 31 points, Dennis 
Rodman grabbed 21 rebounds and die 
Bulls used a big second quarter to beat . 
Phoenix. 

Toni Kukoc added 23 points for the 
a Bu]ls, and Jason Caffey had 18 points 
land 10 rebounds, both season. highs. 

Hawks 99, TV»a Blazon 90 Tyrone 
.Corbin scored a season-high 19 points 
and Christian Laettner added 19 points 
,and 13 rebounds as Atlanta beat Port-, 
land for the sixth straight time. 

• Ed Gray, a reserve, added 16 points 
for the Hawks, who were playing their 
fourth road game in five nights. Gray 
4ook over at point guard in the second 
•quarter for Mootie Blaylock, who 
"scored only eight points on 3-of-12 
shooting. 



Just Monopoly Money: 
Baseball Board Game 

As Teams Wheel and Deal, Few Pass ‘Go’ 


By Thomas Boswell 

Washington Post Sen te e 


Hie 49ers’ Jerry Rice grabbing a pass ; 


Cby McUtWM^Rnam 

• the Broncos* Ray Crockett stops him. Rice hurt his left knee in the game. 


49ers Make It a Show for the Ages 

Rice , Young, Kirby ( and Even Montana) Star as the Broncos Fall 


By Mike Freeman 

IVw York Times Service 


SAN FRANCISCO — The only 
thing missing from San Francisco’s 34- 
17 victory over die Denver Broncos on 
Monday night was a speech from Knnre 
Rockrie. 

Jerry Rice played in his first game 
since tearing two knee ligaments Aug. 31 
and scored a touchdown. Since he was 
not expected to play again this season, 
apparently miracles do happen. Joe 
Montana had his No. 16 Jersey retired at 
halftime. The tight end Brent Jones 

played his fiptf ffimi*. gtnry. annnnnm'ng he 

would retire after the season. When it 
comes to tear-jerking, eye-popping mo- 
ments, this evening was an all-umer. 

Somewhere in all this was a hard- 
hitting football game that refused to take 
second stage to any ceremony. How 
tight was it? The score was tied at 17 in 
the third quarter, with neither team hav- 
ing been able to take controL How nasty 
was it? Denver linebacker Bill Ro- 
manowski— a former 49er — spit in the 
face of San Francisco wide receiver J S. 
Stokes while they' were jawing at one 
another. Merry Christmas. 

Rice made his return special by catch- 
ing a 14-yard touchdown pass with 6 
minutes, 53 seconds left in the second 
quarter — but he was hit hard by Denver 
safety Steve Atwater, limped off and did 
not play again. Minutes later. Montana - 
was tatting to the crowd about his ca- 
reer as a 49er. 

The team said Rice would go for scan 
on Tuesday. CNN, the cable news net- 
work, quoted team sources as saying 
Rice has a cracked bone in his left knee 
and will miss all of the playoffs. ■ 

With all those offensive stars at 
3Com Park, leave it to a defensive bade 
to turn the game around. Midway 
through the third quarter, safety Merton 
Hanks took advantage of a blitz that 
forced John ELway to make a hurried 
throw. Hanks stepped in front of the 
pass to seemingly no one and scampered 
55 yards for a touchdown and a 24-17 
lead. In the fourth quarter, linebacker 
Kevin Greene sacked El way, farced a 
fumble and rumbled 40 yards with the 
loose ball to make the score 34-17. 

In a marehop of the top-rated passers in 


each conference, the 49ers* Steve Yc 
came out on top. completing 22 of 
passes for 276 yards and one touchdown 
with no interceptions. Eftvay finished 16 
of 41 for 150 yards, with no touchdowns 
and two interceptions. Terry Kirby led 
toe 49ers receivers with six catches for 76 
yards; Jones caught four for 68 yards. 

The Broncos, who played without toe 
Fro Bowl running back Terrell Davis in 
toe second half because of a hruised 
shoulder, fell to 11-4. Urey wfil likely 
meet toe Jacksonville Jaguars, who 
knocked them out of postseason play last 
season, in toe playoffs. Denver’s loss 
enabled Kansas City to clinch home-field 
advantage in toe American Conference 
throughout toe playoffs. 

With the victory, San Francisco (13- 
2) wrapped up home-field advantage 
throughout toe playoffs in toe National 
Conference. 


There was probably a part of Elway 
and the Broncos that wanted to watch the 
halftime ceremonies. 

While Montana’s greatness was be- 
ing hailed Mondaynight, his last years 
with San Francisco actually wore not all 
pleasant ones. They were filled with 
injuries and ended in bitterness after he 
was let go by the team he loved in favor 
of Young. 

After a video showing Montana's 
highlights, emotional introductions 
from toe former owner, Eddie DeBaito- 
lo, and his old coach. Bill Walsh, 
Montana, escorted by his wife and two 
children, watted onto toe field. 

“I would just like to say 1 am very 
honored to be standing here tonight,” hie 
said. He left toe field to fireworks and 
hugs from former teammates Rice. Jones 
and Young who had come out of toe 
locker room to watch. 


R ECENTLY, my son discovered 
Monopoly. We played a few 
g a mes. Soon, he got serious and 
unearthed something called “The 
Monopoly Companion" at the library. 
Winning strategies from world cham- 
pions. Tip sheets on which properties' 
had toe best payoff ratios. How to create 
a housing shortage. When to stay in jail. 
How to pretend you’re a nice person so 
that others in toe game will be duped 
into trading with you. 

Nothing has changed my view of a 
favorite amusement so much since base- 
ball invented free agency. No matter 
how wonderful a game, you can always 
turn it into a job if you take it seriously 
enough. Whatever happened to rolling 
toe dice and hoping you landed on 
' Boardwalk? 

In baseball, you can’t just roll toe dice 
between April and October any more. 
Instead, you can be compulsive about 
toe sport 12 months a year. Under- 
standing hot stove league baseball isn’t 
so hard these days. Not if you’re good at 
three-dimensional checkers. 

Sometimes, toe growing complexity 
of this once- simple game seems like a 
multiplication ox the fun. But some- 
times you want to scream, “Enough 
already.* ’ 

For example, toe Cleveland Indians 
and Florida Marlins played in the World 
Series a few weeks ago. Name their 
lineups now. 

If you can. you are certifiable. It’s 
possible no one on earth can name these 
clubs' Opening Day lineups. Because 
these teams don’t exist any more. Blink 
and they're gone. That's modem base- 
ball. 

Matt Williams, Marquis Grissom. 
Tony Fernandez, Bio Roberts and Orel 
Hershiser started Game One of the 
Series for toe Indians. They're history. 
So are Brian Anderson and Jeff Juden. 
Through multifarious three-way trades, 
free agent signings and expansion team 


Stars End Drought at Sabres ’ Expense 


The Associated Press 

Darryl Sydor and Jamie Langenbmnner scored two goals 
apiece as toe Stars ended a recent scoring drought with an 8- 
4 rout of toe Buffalo Sabres in Dallas. 

The Stars had been quiet without their leading scorer, 
MDte Modano, who tore a knee ligament against Edmonton 

HHHoonpup 

on Dec. 3 and is expected to be oat another month. Dallas 
had seven goals in the four games following Modano's 
injury before breaking out Monday night 

Sergei Zubov matched his career high with four assists, 
and Joe Nieuweadyk, Greg Adams and Pat Verbeek each 
had a goal and an assist for toe Stars, who had been shut out 
in two of their previous three games. • 

“We’ve been struggling to score so it was a nice, change 
for ns," said Langenbmnner, who matched a career high 
with a three-point night 

“Buffalo’s a battling team," Nieuwendyk said after the 
teams combined for 118 penalty minutes. “We expected 
things to be physical, but I didn't think things would get that 
chippy.” . 

canuefc* 7, Kings o Pavel Bure recorded his third hat Crick 
this season and Arturs Irbe earned a shutout as Vancouver 
ended a five-game losing streak by winning at Los 
Angeles. 


g 


Bure, who leads (he Canucks with 21 goals, capped his 
ninth career three-goal game in toe second period on a power 
play. Mark Messier had three assists for the Canucks. 

Los Angeles is winless in its last six games. 

Flyers 3, Canadians 1 In Montreal. Vaclav Prospal and 
Eric Lindros scored power-play goals in the first period as 
Philadelphia won its fourth game in five nights. 

The game included a six-man brawl id the second period 
that resulted in 112 penalty minutes and four game mis- 
conducts and left toe Canadiens with four defensemen. 
Garth Snow stopped 20 of 21 shots in toe Philadelphia 
oal, including a key glove save on a shot by Vincent 
ampboosse in toe closing minutes. 

Brains 6, Panthar* 2 In Miami. Steve Heinze scored a 
goal and added an assist as Boston won its fifth straight 

Heinze has five goals and four assists in his last five 
games. 

senator* 3, Hue* 1 Alexei Yashin scored twice and 
Shawn McEachem assisted on all three Ottawa goals as the 
Senators won in St_ Louis. 

Avalanche 3, Maple Leafs 2 In Denver, Peter Forsberg and 
Rene Corbet scored goals 21 seconds apart in Colorado's 
three-goal second period. 

Eric Messier added a goal and Joe SaJric had two assists 
for the Avalanche, winners of seven of their last 1 1. Craig 
Billington. subbing for Patrick Roy in toe goal, stopped 23 
shots, three of them on breakaways. 


draftings, toe Ind Wg now have Kenny 
Lofton, Travis Fryman, Dwight Gooden. 
Ben McDonald, Steve Karsay and, prob- 
ably, several other people, loo. 

Don’t get too attached to any of them. 
Think of Jacobs Field as a bus terminal. 

As for the Marlins, they’ve been 
blown up. Kevin Brown, the team ace, 
was traded to San Diego for three minor 
leaguers Monday. Gotta lower that 
payroll if you’re gonna sell those world 
champions. It’s not just Moises AIou, 
Robb Nen, Jeff Conine, Devon White. 
Jim Eisenreich and, soon, Dutch 
Dauiion, who won’t be back. Even toe 
pitching coach and bench coach have hit 
the trail 

I T’S TAKEN 20 years, but baseball 
has moved into the totally fluid 
world of utter personnel flux. Gen- 
eral managers and owners know that, 
each winter, they can act like a bunch of 
hyperactive 1 1 -year-olds sitting around 
a game board screaming. "I’ll give you 
Park Place, Water Works and $1 ,000 for 
New Yorir Avenue and Marvin Gar- 
dens." 

Off-season baseball is really just one 
big swapfest among grown-up rotisserie 
geeks, ror example, say you have a 
salary slot for a player who’s in toe 
ihree-years-for-S24 million category. 
Andres Galarraga, Darryl Kile and 
Lofton all fit that description. 

So, toe Big Cat went from Colorado 
to Atlanta, while Lofton left Atlanta for 
Cleveland, which had plenty of cash to 
spend because Williams was gone. The 
Rockies then signed Kile away from 
Houston. 

Everybody got whole. Except the As- 
tros. Now they have to decide: save 
money or sign some of toe leftover free 
agents, such as Rod Beck and Cecil 
Fielder. 

Got it? 

Of course you don'L 
Luckily for baseball, while almost 
nobody cares about all 30 teams, nearly 
everybody cares about his own team. 

Baseball is still the greatest soap op- 
era in sports. That's what keeps reviving 
toe game. The trick, these days is not to 
allow it to become an obsession. Keep 
your focus small. Enjoy what appeals to 
you. Ignore toe rest. 

As Red Sox fans have recently 
learned, sometimes it takes a year to find 
out what really happened. Boston didn't 
simply lose Roger Clemens to free 
agency last winter. The board game that 
baseball has become is considerably 
more complex than that. 

The Red Sox actually swapped Clem- 
ens for Pedro Martinez — this season’s 
National League Cy Young winner. It 
took toe Boston front office a year to 
find toe proper pitcher on whom to 
bestow the money made available when 
Clemens departed. Martinez is nine 
years younger. 

Baseball’s game of Monopoly has 
one indisputably serious problem: It's 
anti-monopolistic. No sooner did the 
sport expand than toe new Arizona Dia- 
mondbacks redefined toe off-season 
market by giving toe modestly gifted 
shortstop Jay BeU $34 million for five 
years. 

“Some of these signings defy de- 
scription," huffed toe Yankees' owner, 
George Stein brenner. And that was be- 
fore Boston came to terms with Mar- 
tinez — for $75 million. Of course, 
maybe the Red Sox think they can pay 
him with orange $500 bills. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 


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OBSERVER 


Little White Lies 


The Taskmaster Who Made ‘Titanic,’ the Movie 


By Russell Baker 


N EW YORK — The late 
Ambassador Larry Law- 


Ambassador Larry Law- 
rence is back in Southern Cali- 
fornia after brief interment in 
Arlington National Cemetery, 
friends of truth throughout 
America are gratified 

Lawrence, having invented 
a_ heroic wartime career for 
himself, was deemed a suit- 
able candidate for this most 
desirable of national cemeter- 
ies. overcrowded though it 
be. and down be went. 

Then — the prosaic fact un- 
earthed He had made it all up 
about the war. All patriots, plus 
Congress, were incensed. So 
up he came, and out he went 

Yes, I am laboring too haro- 
tiandedly at this effort to share 
the general amusement at 
Lawrence’s expense. Patriotic 
convention requires a show of 
outrage, or at least contempt. 

Still, I am puzzled about 
Lawrence. There was a silly 
innocence about his lies. He 
had been talking for years 
about being aboard a ship that 
was torpedoed on the icy run 
to Murmansk. It was all false. 

- Could he possibly, long be- 
fore most people normally 
stan preparing for eternity, 
have cooked up this fiction for 
the macabre purpose of 
someday being admitted to 
Arlington? 

The evidence certainly 
suggests that he wanted a 
touch of World War II hero- 
ism in his r£sum£. Fifteen 
years ago he had die history of 
the maritime war researched 
to find a torpedoed ship 
aboard which he might have 
served. Merchant-marine ser- 
vice would be easier to fake 
than official military service, 
which generated easily avail- 
able records for snoopers to 
find. The mystery is why he 
wanted a war record at all. He 
was scarcely of draft age 


when the war ended in 1945. 
Lack of war service could not 
have embarrassed him. 

He seems to have been one 
of those people who are 
powerless to resist improving 
on a good story and who, lack- 
ing a story to improve, will 
invent one. 

American life is drenched in 
advertising whose deceptions 
are so widely taken far granted 
that objecting to them marls you 
as a hopelessly dour Puritan. 
The economist John Kenneth 
Galb raith suggests that Amer- 
icans have a built-in “men- 
dacity index” with which they 
automatically discount all ad- 
vertising claims for lie content. 


By Justine Elias 

New York Tima Service 


-EW YORK — When it 


United States on Friday, ‘ 


> in the 
Sc,'* the 


movie that has long been tire subject of Hoi- 


The lie told to make money 
is as American as — well, as 
American as Lou Gehrig. 
Here is Lou speaking of cig- 
arettes in a full-page ad from 
The Saturday Evening Post of 
April 24. 1937: 

' ‘For a sense of deep-down 
contentment — just give me 
Camels. After a good man- 
sized meal, that little phrase 
‘Camels set you right’ covers 
the way I feeL Camels set ME 
right, whether I’m eating, 
working — or just enjoying 
life. All the years I’ve been 
playing. I’ve been careful 


almost sue months late and Si 00 million over 
its original $100 million budget But there is 
nothing personally slow or extravagant about 
die film ’s director, writer, producer and ed- 
itor, James Cameron. 

He is a supremely focused taskmaster who 
speaks so fast dial his associates can scarcely 
apprehend one of his ideas before he has 
moved to the next 

Case in point: As Cameron critiqued die 
final cut of "‘Titanic/ 1 giving his last di- 
rections regarding its printing, his obsessive, 
rapid-fire remarks so confounded -his col- 
leagues that they bad to scramble to videotape 
him so they would be able to review his 
commentary later and cany out bis orders. 
“There's no way to take notes when I get 
going,” Cameron said. “And usually there is 
no second chance.” 

During a decadelong run of seven tech- 
nically innovative, emotionally complex ac- 
tion films — from “The Terminator* (1984) 
to “Aliens” (198 6) to “True Lies” (1994) 
— Camer on, who is 43, moved boldly in 
esrahiighing hii pqelf as the leading action- 
movie director. Alliold,'his films have earned 
more than half a billion dollars 18 
Academy Award nominations. 

"‘Titanic/’ which is both a lavish sim- 
ulation of one of the worst sea disasters ever 



has dared to go farther, setting his Story in the 

midst of one of the most potent symbolsof 
20th-century hubris. He said he wanted audi- 
ences to come away from ‘ Trtawc not 
primarily awed by effects-dnven spectacle 
but humbled by the depiction of tire hard 
choices faced by the people-on ^hip., 

- Cameron said that in his "Titaruc he 
wanted to take a different ttdkfin njbg taken 
in the almost doczzmentaiy-Uke A Night to 
Remember,” the acclaimed 1958 British film. 
“I wanted to honor the reality ofTitamc, bui t 

don’t want that to get in the way of telling a 
“TTiic i* thf. imsi char- 



erear story,” he said. “This is die mosldar- 
nrtpr-driven script Fve ever done. I warned it 






actor-driven script I've ever oone. i wamau 
. „ to be about the Titanic in the way that Dr. 

Zhivago 1 is about die Russian Revolution. It 
isn’t, really. It’s about these two people. 

• ■ ‘‘Titanic” centers on the ill-starred ro- 
mance of a society girl, Rose DeWin Bukater 
(Winslet), and a penniless artist, JackDaws an 
(DiCaprio), two teenagers who find in each 
otfaerthe will to survive, “You can’t have a 
great love story without death being afactor, 
Cameron said. j . 

The contemporary story, set aboard a treas- 
ure hunter’s ship and narrated by Rose (Gloria 
Stuart), now 101 years old, is “abmit the 
tr ansf erence of dynamic energy from one 
person to another to another,” the director 
add “The greatest loves in a person’s lifeare 
die ones that have a transformative effect You 
can’t really change; you can only emerge.” 
———— . Cameron has vast experience with this 
It subject; he has been mamed four tunes, most 

Leonardo DiCaprio and Kate Winslet in a scene from James Cameron’s “Titanic.” r^ndy S^teT’-'Of 




t 


about my physical condition. 
Smoke?! smoke and enjoy it 

-i /-> l »' 


novation, and a huge budget, at the service of drama. remote control from a s m all submarine. (Film from this What brings out the worn in Cameron, «“ 

Cameron is known far his perfectionism and for high- expedition is included in “Titanic,” as part of a con- professional setting, was the .subject of much m-ttmea 
handed dealings with actors, crew and studio bosses. But he temporary story that frames the historical account) reportage from the set of Titamc. tie maxes no apologies 

also has a reputation for getting things done under adverse As Cameron continued to film the contemporary part of for his toughness on actors and crew members, out ue b 
circumstances, and that reputation will be enhanced now that his stray on a Russian scientific boat off the coast of Nova infuriated by reports of unsafe conditions on theMmucan set. 
""Ti tanic/ 1 despite its troubled history, is arriving in theal- Scotia, Fox finished constructing its new production center Though one crew member was injured driving nraovracarm 
as, to much early acclaim, with some chance of breaking in Rosarito, Mexico. There, in die frill of 1996, set designers an after-hours road accident, and three stunt Payers broke 
even if not actually making money. constructed a nine-tenths-scale model of the opulent ship and _ bones, no actors or extras required hospital treatment, me 

The history of tiie movie is almost as familiar as that of the a 12-acre water tank, and Cameron proceeded to re-create the film’s producers say. . . 

Titanic, the state-of-the-art British ocean liner that sank in sinking of the Titanic. Even before he started Titanic, Cameron s tendency to 

the early hours of April 15 1912, after colliding with an Aftershooting fell a month behind schedule — because of browbeat cast and crew when dungs didn t go ms way naa 


My cigarette is CameL” 
There is also a lie, in the 
opinion of Paul Fussell, in the 
lan g ua g e with which we dis- 
cuss the war dead. A combat 
infantryman .who fought in 
France, Fussell says the truth 
is not that men give their lives 
in war, but that governments 
mke thp.m Charles Frazier’s 
best-seller, “Cold Moun- 
tain,” is about the fate await- 
ing a soldier who would 
rather nor give his life. Many 
World War II draftees will 
take Fussell’s point 

New York Tuna Service 


Titanic, the state-of-the-art British ocean liner that sank in 
the early hours of April 15, 1912, after colliding with an 
iceberg in the North Atlantic (more than 1,500 of some 2,200 
people aboard died). 

Cameron and his team started to research the ship’s story 
mare dim five years ago. In typical Cameron fashion, he 
insisted on filming die actual wreckage, which was discovered 
in 1986 about 400 miles off the coast of Newfoundland. 


q 1,500 of some 2,200 weather and technical difficulties and not, Cameron said. 
Injuries on the set and a bizarre incident in which 80 members 
earch the ship’s story of the cast and crew were poisoned by tainted seafood — the 
Cameron faction, he projected release date, July 2, became impossible to meet 
which was discovered Cameron’s previous screen stories, about -self-reliant 

if Newfoundland. heroines who tangle with killer aliens, killer androids and 


because of browbeat cast and crew when tilings didn t go his way had 
icron said, become the stuff of Hollywood legend. “I definitely have 
0 members this kind of reputation, and it’s probably deserved up to a 
rood — the certain extent,” he acknowledged. “I think there’s a per- 


He did so with the help of his brother Michael, a me- killer spies, were composed on a large canvas. This time, he would not have occurred under those circumstances 


MUSIC 


PEOPLE 


The Tenor and the Fan: Magnificent Obsession 


By Ralph Blumenthal 

New York Tima Service 


N EW YORK — Opera stars have 
their claques, fanatical followers 


It] their claques, fanatical followers 
and sometimes even completely demen- 
ted stalkers. But few, it is safe to say, 
have anyone like the fen Richard Leech 
has in Rosemary Dunne. 

Since the tenor’s 1984 City Opera de- 
but, she has attended about 100 of his 


But Dunne breaks many of the ste- 
reotypes. For all her devotion, she is no 
starry-eyed groupie. She is a 55-year-old 
bank vice president, unmarried and liv- 
ing on Long Island, who displays no 
romantic interest in the happily married 
Leech. She is fastidious about not en- 


croaching on his privacy and regards her 
own fixation with wry amusement, 

“It wasn’t a matter of saying, ‘Hey, 
I'm going to all your performances/ ” 
she said- x Tt just happened.” 

Just happened? Following a singer 
around the world and spending up to 
$200 a ticket just happened? “So 
what?” she said. “It’s my Valium. I 
save on therapy.” 

But asked whether he had changed her 
life, Dunne laughed. “Get real,” she 
said. “No.” 

In interviews with and without Leech 
in the West Side apartment of his pub- 
licity agent, Karen Kreindier Nelson, 


performances, including every one of his 
74 airoearances cm the Metropolitan Od- 


74 appearances cm the Metropolitan Op- 
era stage since November 1992 — sitting, 
invariably, in the first row. She has 
traveled to most of his engagements 
around the country and abroad, organ- 
izing her life around his schedule, which 
she carries around on a 4-by-5-inch card 
in her pocketbook. In June, she flew to 
Paris to hear three of his “ Marions’' and 
on the way home via London, made an 
impulsive decision to detour back to Paris 
through the Chunnei to catch a fourth. 

■ On Saturday Dunne flew to Chicago 


for Leech’s performance at the Lyric 
Opera as Pinkerton in “Madame But- 
terfly.” She returned to New York on a 7 
A_M flight Sunday and plans to go back 
to Chicago for two more performances 
of “Butterfly” next month. 

For Leech’s 100th Met performance 
— as Faust, on May 24 — Dunne and her 
friend Trudy Lampert, another opera 
buff, threw a party at the Met for him and 
the cast with a marzipan cake depicting 
the opera house surrounded by musical 
notes. Two days later, for his 40th birth- 


In some ways, she 
represents the passionate 
excesses that opera seems 
to inspire in devotees. 


day, she presented him with 200 golf 
balls (he likes golf) that she had inscribed 


with his roles at the Met and date of 
performance. 

“I kept saying to myself, ‘She really 
needs to gee a hobby/ ” Leech said 
fondly, in her presence. “And then I 
realized. I’m it.* 

In some ways, Dunne represents the 
passionate excesses that opera, of all the 
arts, seans go inspire in devotees, from 
the cul lists who worshiped the soprano 
Magda Olivero to the writers who fill 
issues of Parterre Box: The Queer Opera 
. Zine, a bimonthly with freewheeling and 
often X-rated commentary on singers and 
their perf or mances on and off the stage. 


Dunne, a stolid woman with a self-ef- 
facing air, seemed unable to fully fathom 
her actions. 

“It’s tough,” she began uncertainly, 
when asked to explain. “I like him very 
much. He's a total performer. You don’t 
see that much.” 

She works in a "pressure cooker,” 
she said, and finds opera — “my habit,” 
she called it — her way to unwind. 
“Something comes over me when I get 
there,” she said “I relax.” 

She was especially drawn to Leech, 
she said, who reminded her of a favorite 
nephew also named Richard. Above all, 
she said, she responded to his strong tenor 
voice and acting ability. (She didn’t men- 
tion' his idiosyncrasies, like applying his 
own stage makeup and chewing ice.) 


He’s a very private person,’ ’ Dunne 
said. “I don’t think be knew what to 
make of me. I think be probably decided 
I’m crazy but harmless.” 


Leech seemed equally bemused. 
“They come along/ he said, “but 
frieze’s never been one like Rose- 
mary.” 

Dunne traced hex interest in opera to 
her father, a music lover who worked on 
Wall Street and died when she was 11. 
Raised in Brooklyn, she attended St 
John's University as a history major, 
toyed with law and studied banking. Asa 
season subscriber to the City Opera, she 
first heard Leech singing Rodolfo in “La 
Boheme” there in 1984, a few perfor- 
mances after his debut “I was probably 
normal then,” she said. She quickly 
realized, she said, “Wooo, we got a 
tenor.” 

Fra some years her opera-going took 
second place to family duties as she took 
over emergency care of a relative’s chil- 
dren, but on Nov. 19, 1992, she’ said, her 
friend Lampert — a Placrdo Domingo 
partisan — took her backstage to meet 
Leech after a performance of “Lucia di 
Lammennoor ’ — his 34th engagement 
at the Met. She made his next perfor- 
mance and the three after that “At some 
point it dawned on him I was not giving 
np,” she said. 

Dunne has never missed another of his 
performances at the Met and in addition 
followed him to’ appearances in 
Montreal, Pittsburgh, Cincinnati, Chica- 
go, Los Angeles, San Francisco, San 
Diego and, last July, London and Paris 
— when she saw him four times as Des 
Grieux in Massenet’s “Manon” and 
joined Leech and friends for dinner af- 
terward. 

Leech said Dunne’s enthusiasms took 
some getting used to. He and his wife, 
Laurie Higgins, assistant stage director 
of Tri-Cities Opera in Binghamton, New 
York, where he got his start, were long 
nervous over the excesses of some fans. 
Once, he said, a professor talked his way 
back stage to his dressing room and 
made inornate moves before Leech had 
him ejected. “The guy was nuts,” he 
said. 

Dunne said stalking was not on her 
agenda — “I didn’t know you could do 
mat” — but jokingly. refused to rule it 
out for the future. “You got to give me 
10 years,” she said. 


JLSpice Girls. Prince Willi- 
am, 15, and his brother, 
Prince Harry, 13, took their 
fiieods to meet the five Spice 
Giris before the world 


premiere of the rock group’s 
first movie, “Spice World.” 


first movie, “Spice World.” 
The princes' father. Prince 
Charles, was also on hand. 
The three princes and the five 
Spices had a private five- 
TnTnntp. meeting at the theater 
in London before the screen- 
ing. The Spice Girls sat with 
the princes during the movie 
and then went to a party in 
their honor at the Waldorf 
HoteL Harry met the Spice 
Giris at a concert in South 
Africa last month that he at- 
tended with his father, but tins 
was their first meeting with 
William. . . . William and 
Harry watched Camilla Park- 
er Bowles participate in a fox- 
hunt, marking what is believed 
to-be the first time the boys 




and Kyoto, Japan, and Bristol 
England. 

□ 

Bob Dylan has come oat 
with his roost acclaimed al- 
bum in 20 years. But is the 56- 
y ear-old singer-songwriter 


happy? “1 think that it’s hard 
to find happiness as a whole 
in anything,” Dylan said in a 
recent interview.’ “The days 
of tender youth are gone. I 
think you can be delirious in 
your youth, but as you get 
older, things happen.” Critics 
have described Dylan's new 
album “Time Out of Mind” 
as brooding and gloomy. 
“It’s certainly not an album 
of felicity.” he said. “I try to 
live within that line between 
despondency and hope.” 


John StaimOMpntr Fnnc-Piw 

Charles and Spices at the movie premiere. 


Sydney Gruson, former 
vice chairman of The New 
York Times and a director 


have been seen at an event at the same and his previous wife. lolanda, recently emeritus of the International Herald 


time as their father’s longtime friend, divorced after a 31-year marriage. 
Charles did not attend tile hunt but tiie two . __ 

young princes were seen following in L-* 

separate vehicles as Parker Bowles and Luciano Pavarotti polled out c 


Tribune, has been made an honorary doc- 
tor in laws by Trinity College, Dublin. 
Trinity College cited Giuson’s influence 


Luciano Pavarotti polled out of two and achievements as a journalist cov- 


Prmcess Michael of Kent rode to hounds British concerts this week because of the ering. among many major stories. East- 
near their father’s country mansion in flu. He was to have sung Verdi’s “Re- em Europe under Stalin. Gruson, cur- 
Gloucestershire. William and Harry quiem” at Bir m ing h a m ’s Symphony rendy a senior adviser at Rothschild Inc. 
made their debut hunt in February 1995. Hall Monday night and again with the - in New York, was bora in Ireland, 
j— I Philharmonic at London’s Royal Fes- 

■ — I rival Mall An W o/i n ocrl o , , i. 1 i 


rival Hall on Wednesday. Pavarotti is 


A man was sentenced to six years and being replaced by the French tenor 


eight months in prison for trying to ex- 
tort $80,000 from the model EUe 
Macphersoo by threatening to post 
nude photos of her on the Internet. Mi- 


Roberto Alagna. Riccardo Mull, the 


■ Leona Helmsley, the former New 
York hotel queen who spent time in 


musical director of La Scala in Milan prison for tax evasion, is asking $25 
and a framer Phflhaimonia principal million far her estate in Paradis- v*li«v 


conductor, released Alagna 


principal 
from two 


chael Mishler, who pleaded guilty to performances at La Scala to fafcg part, 
charges of extortion and burglary, also _ 


was ordered to pay nearly $115,000 in 
restitution. 


The English architect David Chip- 
field has won tire contract to rebuild 
fin's Neues Museum, which was de- 


million far hex estate in Paradise Valley, 
Arizona. That’s five times the price for 
other luxury homes in the area and $19 
million more than what she paid for the 
property a decade ago. 


Johnny Carson, who retired in 1992 


Tire 82-year-old actor Anthony strayed in 1945. According to a spokes- af^To ^ as hc»rof >Sc’s “The 
forTner secrc ^- “A? fc? the museum, the $150 million Tonight Show," fSentiy doiSed $? 
Kathv Bevin, People magazine report- project is to be completed in six to eight millim! to the ckmS^Sitor fohS home 
ed. The ceremony took place in Naples, years after construction b egins in the year town of Norfolk Nphracka aHriino m 
Honda, and was attended by^the 2000. The museumvtineSpart of tire h££r2s of fro* 
couple's two children, Antonia, 4. and Eg^oqllectronofBerim’s^eums. 

Ryan, 1. Quinn, who has been mamed Earlier projects by Chroperfield include n 116 iaicsl . Qoi: ^ anon wm 

twee previously, has fathered 13 chil- work 

dreo with five different women. Quinn in London as well as buildings m Tokyo giooal^Sce^. ^ ^ 


^ThemuswmwtilejaiitHtpartofthe hundreds of thousands of dollarshehas 

hi the past. The latest donation will 
■arher projects by Chroperfield include he! p oav for two new examinarirtn mnms 


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