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INTERNATIONAL 



The World's Daily Newspaper 


R 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 

London, Tuesday, December 23, 1997 



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The ‘Old Boys 9 
■ ij Of Westminster 
Remain Boys 


By Sarah Lyall 

IM Tours Service 










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LONDON — No one ever claimed that the House of 
Commons was a hotbed of maturity. 

It is there, for instance, that Labour legislators reg- 
ularly calL “Tax i I Taxi!” when Patrick Nicholls, a 
Tory once stripped of his driver's license because of 
drunk driving, rises to speak. It is where they greet 
.Douglas Hogg with cries of “Moo!” in recognition of 
his service as agriculture minister during the worst of 
.the so-called mad cow crisis. 

Even so, Jane Griffiths, a newly elected Labour 
member of Parliament, was taken aback when she was 
; addressing the House of Commons recently and several 
Tory legislators began cupping their hands in front of 
their chests, she said, as if % ‘they were weighing mel- 
ons.’* 

The honorable gentlemen, as they are called in 
Parliament, were clearly using the universal gesture for 
breasts, Ms. Griffiths said, and she found it absolutely 
mystifying. 

“I don’t even think they're consciously being sex- 
ist,” she said. “I think they behave like schoolboys 
* because nobody’s ever told them not to.” 

Id fact, many men in Parliament seem to have a real 
problem with women’s body parts. Clare Short, die 
secretary for international development, told a television 
'program about women in Parliament recently that some 


tty to 
.fork 


ofbex male opponents begin giggling when, for instance, 
die subject of cervical cancer programs comes up. 

They're “very public schoolboy, primitive,” Ms. 
Short said. “Breasts, of course, just finish them off 
completely.” 

So,- apparently, does any reference to birds, which, in 
- British slang, m«in» what “chides” means in Amer- 
.ican slang. 

■ “The speaker had to intervene the other day when a 
woman stood up during an agriculture debate on wild 
birds,” said Candy Atherton, a Labour legislator. “It 
. was ap pallin g- 1 suddenly became aware that there was 
a load of noise and the Tory benches were falling about 
'Quite clearly, they thought it was hilarious that a 
woman was asking about birds. They were like juvenile 
schoolboys on a day out” 

Parliament has always been Britain’s ultimate old 
boy’s club, and in the past Its members could get away 
with behaving like escapees from ah all-male boarding 
school, which most of diem were. But in last May’s 
-grand Labour sweep, an unparalleled 120 women — 


< 


See BOYS, Page 10 



Rfcrk 

President and Mrs. Clinton greeting American soldiers on Monday after they arrived in Tuzla. 

Clinton, in Bosnia, Tells Leaders 
He Expects Them to Make Peace 


The Associated Press 

TUZLA, Bosnia-Heraegovina — In a swift, 
tightly guarded visit President Bill Clinton told the 
Bosnian people Monday that the shape of their 
future was up to them, “not die Americans, not the 
Europeans, not to anyone else,” and he thanked 
U.S. troops for their “profoundly important” 
peacekeeping efforts. 

“Without you, die warring parties would never 
have disengaged,” be told cheering America sol- 
diers. 

In high spirits, the president reported to the troops 
that he had told the leaders of the three Bosnian 
ethnic groups that America would do “our dead- 
level b«t” to enforce the accords shaped in Dayton, 
Ohio, in 1995 to end 316 years of warfare. 

Mr. Clinton wore a leather jacket bearing the 
yellow and red triangle insignia of the Army’s 1st 
Armored Division, a major part of the NATO-led 
peace force. He spoke inside a shed at Eagle Base, 
one of a number of U.S. camps here and the home to 
about 2,000 U.S. soldiers. 

‘T believe iris worthwhile and I hope you believe 


r With Boeing Deal, Turkey Strikes Back at EU 

w State Airline Signs $2.5 Billion Contract for Planes and Suspends Its Purchases From Airbus 


By Stephen Kinzer 

New York Times Service 




*-i * 


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.. ISTANBUL — When the chairman 
of Turkish Airlines sealed a deal in 
— — — ’ Washington last week to bay as many as 
49 Boeing airliners, he was reflecting a 
_ ^w^dedsion that was political as well as 
- f. ^co mm ercial. 

_ The chairman] Cem Kozhi, signed a 
contract Friday that could be worth $2-5 
billion. As he shook hands with a senior 
Boeing executive, Vice President AI 
Gore and Turkey's mime minister, 
MesoiYihnaz, beamed and applauded. 
■ [ “Today's agreement is more than a 
simple commercial transaction,” Mr. 
Yilmaz said afterward. “It’s a $2 billion 
investment in die future of our two 
countries.” 

. Turkish technicians had recommen- 
ded the purchase of medium-range Boe- 
ing planes by the stale-owned airline, 
^X^hnt under normal circumstances it 
would have taken several months for the 
State Planning Office and the cabinet to 
approve die choice. 

But with Turkey now angry at die 

European Union and eager to strengthen 

>ts relationship with the United States, 


the approvals were pushed through in a 
matter of days. At die same time, ac- 
cording to" senior Turkish officials, the 
government told Turkish Airlines not to 
proceed with a planned purchase of 
long-range planes from the European 
consortium Airbus Industrie. 

“The message was, ‘Suspend your 
talks with Airbus,’ ” an official in- 
volved in the decision said. 

At a summit meeting Dec. 13 and 14, 
the European Union deferred action an 
Turkey’s application for membership, 
angering Mr. Yilmaz and others who 
had expected an encouragingsign. Later 
Mr. Yilmaz announced tout Turkey was 
freezing political contacts with the 
Europeans. 

The quick decision to buy Boeing 
planes and the suspension of talks with 
Airbus suggested that the breach between 
Turkey and Europe would have eco- 
nomic as well as political consequences. 

Because Turkish Airlines already 
owns several long-range Airbus planes, 
it is still possible that a decision will be 
made to purchase more. But Boeing is 
now likely to be given a chance to bid on 
die order. 

“The Turkish government’s attitude 


has changed,” a member of Mr. Yil- 
maz’s entourage said. 

“We’re going to take it easy on this 
decision. We’ll wait, take some time 
and see how relations develop.” 

In contrast to the way Turkey was 
treated ax the European Union meeting. 
American officials rolled ont what a 
‘Turkish newspaper called “a deep red 
carpet” for Mr. Yilmaz. 

President Bill Clinton and Secretary 
of State Madeleine Albright expressed 
strong support for Turkey, describing it 
as a vital strategic ally . 

Mrs. Albright said she would visit 
Turkey in the first half of 1998. She also 
suggested that the State Department of- 
ficial in charge of monitoring human- 
rights conditions. John Shattuck, be in- 
vited to Turkey.. Mr. Yilmaz immedi- 
ately issued the invitation. 

Secretary of Commerce William Da- 
ley and Secretary of Energy Federico 
Pena also said they would visit Turkey 
soon. Members of the Turkish dele- 
gation said there were indications that 
Mr. f’b’nftvn also might come but chat he 
had made no firm commitment. 

During his meetings in Washington, 
Mr. Yilmaz repeatedly expressed dis- 


appointment with what he described as 
the European Union’s insulting rejec- 
tion of Turkey’s application. 

“I told them that I understand all our 
shortcomings and what's required of us, 
whether it’s about human rights, relations 
with Greece or anything else, and that we 
would work on them,” Mr. Yilmaz told 
Mrs. Albright, according to an official 
who was present “But even with that, 
they were not ready to move forward." 

In recent days, several European lead- 
ers ’have expressed dismay at Turkey's 
reaction and hope that relations can be 
repaired. Because the decision by the 
European Union was matte at a summit 
meeting, however, it cannot be changed 
or adjusted until at least die next such 
meeting, scheduled for June in Britain. 


4^ 






These Games Just Might Be Good for You 


late Holiday Surprise! Method to the Madness on the Computer Screen 

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By Steve Lohr 

. Non York Times Service 

. • - 

>■*“ REDMOND, Washington — Inside a 

small roan, the human guinea pig is 
V- picking up the pace, pointing and click- 
. ®B- She hunches closer to the computer 

’ Y*' screen, moving the moose quickly, up, 

: ;J S Wfc again. 

■ Watch ing her from behind a one-way 
toPor, in a room next to the computer 
“teloy, Alexey Pajitnov smiles with 
• lS * Sflhsfaction and pumps a fist in the air. 
;“She’s booked,” he declared. . 

‘ j5 ■ ‘ Ihis.ia the moment that game de- 


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Newsstand Prices 


Bahrain — ,1.00080 Mate 55 c 

iCyPRB .C £1.00 Nigeria .~.126p0 Nafca 

°Wiwk^.1400DKr Oman 1.250 OR 

•PWand; ^1200 FM Qatar -IttQQQR 

Gteufer .£ 0.85 Rep. lratareL.iR £ 1.00 

Qraut Britain ~£ H90 Saudi Arabia 10 SR 

;^»Pt £E 5.50 S. Africa— R12+ VAT 

£xdan 1250 JO. UAE. 10.00 Dh 


{$*** — K. SH. 160 US. MB. put) _$ 1.20 
— —.700 FBs Zkrtubm— Zkn54000 


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signers like Mr. Pajitnov, a bearded, 
genial 42-year-old ai Microsoft Corp., 
labor endlessly to achieve; the moment 
when curiosity turns to compulsion. It is 
an elusive goal that, according to Mr. 
Pajitnov, involves creating a game with 
an “emotional rhythm" that moves a 
player across a psychic border, altern- 
ating a sense of achievement and loss, 
pleasure and disappointment 

“You must tease the nerves,” he 

ching for the ingredients of com- 

: remains the Holy Grail of the 

„ .-biiiion-a-year business of computer 
and video games. It is ft search that has 

become far more respectable in the last 
few years as a growing body of research 

suggests that playing computer games 
may actually be good for young minds 
— a message that parents may find 
reassuring daring the peak holiday sales 
season for the games. 

Computer and video games, re- 
searchers say, can help children develop 

tfieir skills of visualization, concentra- 
tion and problem-solving, as well as 
help them acquire a fluency in tech- 
nology. Some experts even point to the 
' pmtibr as a possible contributing factor 
mtoe steady rise in IQ scores in de- 
veloped nations. . _ 

“The same skills used m computer 
games are baric technology literacy 


skills," said Patricia Greenfield, a pro- 
fessor of psychology at the University 
of California at Los Angeles. “Those 
skills are extremely important in the 
modem world.” 

William Winn, director of die Learn- 
ing Center at tbe Human Interface Tech- 
nology Laboratory of the University of 
Washington, has found that young 
people “internalize” the ability to visu- 
alize the images they create on com- 
puters, often enhancing their ability to 
visualize people and events when they 
read. 

In psychology, some academics have 
long been studying what is called flow, a 
state of deep concentration, total ab- 
sorption ana intellectual peak perfor- 
mance that is die mental equivalent of 
what athletes describe as being in the 
“zone." Research on flow has tended to 
focus on serious brain work like playing 
chess and software programming. 

1 ‘But there is no question that you can 
experience Sow by becoming immersed 
in computer games,” said Mihaly 
Cakszootndhalyi, a professor of psy- 
chology and education at the University 
of Chicago, 

Today, there are still concerns about 
children bring allowed to play violent 
adult games or spending endless hours 

See GAMES, Page 10 


AGENDA 

Factions Sign Plan 
For Peace in Somalia 

CAIRO ( AP) — After more than 
a month of talks in Egypt, Somali 
factions signed a power-sharing 
agreement Monday that could lead 
to a national government in die 
war-ravaged African nation. 

Egyptian state radio said the dec- 
laration called for forming a tran- 
sitional government and preparing 
for a national reconciliation con- 
ference early next year. 

The document was signed by the 
two most powerful faction leaders, 
Hussein Mohammed Aidid and 
Mohammed Alt Mahdi. 

PAGE TWO 

The Teddy Bear Who Made Good 

THE AMERICAS PaS*3. 

[LS, Extradition Late Is on Trial 


Books ......... 

Crossword — 

Opinion 

Sports 


. — Page 12. 

Page 17. 

.... Pages 8-9. 
Pages 20-2L 


i he Dollar 


NO* Yw* Monday ft 4 P.M. frewamdoea 
DM* 1.7615 1.7754 


Pound 


1.6635 


1.6705 


Ven 


130.125 


12928 


5359 


5.9465 



+63.02 


change 


7819.31 


S&P 500 


7756-29 


+6.93 


Monday O 4 P.M. 
853.71 


provmaeloH 

946.78 


3 East Asia Nations 
Get 4 Junk’ Ratings 


the effort in Bosnia is worthwhile,” Mr. Clinton 
told the troops. 

Former Senator Bob Dole accompanied him to 
Bosnia along with 1 1 members of Congress. Mr. 
Dole, Mr. Clinton’s Republican opponent in the 
1996 presidential election, has been a firm sup- 
porter of Mr. Clinton’s decision to extend the U.S. 
military mission here beyond its June deadline. 

“We don’t like to keep anyone away from their 
families,” Mr. Dole told the troops, “and hope- 
fully, one of these days very soon, there will be a 
successful conclusion and these three countries can 
govern themselves and you can go home.” 

In Sarajevo, Mr. Clinton’s speech was directed at 
Bosnia’s people and its quarrelsome federation 
leaders, with whom he met privately. 

To the people, be said: “You must make your 
desire for peace and the common future clear to the 
leaders of each group.” 

To the three members of Bosnia’s presidency, he 
said: “Your responsibility is to turn the documents 

See CLINTON, Page 10 


Kim Warns Korea 
Of Possible Layoffs 

By Don Kirk 

Special to the Herald Tribune 

SEOUL — President-elect Kim Dae 
Jung dropped his long-standing oppo- 
sition Monday to laying off South Korean 
workers in toe battle for economic sur- 
vival, warning toe nation. “We could go 
bankrupt even tomorrow." 

His comments came as Moody's In- 
vestors Service, the credit-rating con- 
cern. cut South Korea’s credit rating to 
junk status, along with that of Indonesia 
and Thailand. 

The news sent the South Korean cur- 
rency, the won, plummeting against the 
dollar, and yields on the country’s 
benchmark three-year bonds soared to a 
record of nearly 30 percent. 

The rating change will increase the 
cost of borrowing for South Korea's 
already squeezed banks, which are des- 
perately searching for dollars to pay off 
a foreign-currency debt of S25 billion 
due before the end of January. 

The foreign debt that South Korea 
must repay in the next few months ‘ ‘may 
be greater than previously expected.” 
Moody's said in explaining its move. 

Mr. Kim looked upset as he appeared 
before television cameras after govern- 
ment officials briefed him on the severity 
of the country’s economic condition. 

“I have suffered all my life, but after 
being briefed I realized our economy is 
completely at the bottom,” said Mr. Kim. 
a longtime leader of the political op- 
position who won election last week. 

“Our economy is in such bad shape, 
we could go bankrupt even tomorrow,” 
be said after talks with leaders of his 
political party, the National Congress 
for New Politics. “This is no exag- 
geration.” 

Along with the ratings cut, Moody’s 
raised doubts about whether the $60 
billion bailout led by the International 
Monetary Fund would be sufficient to 
rescue South Korea, saying that the 
Fund’s support program “may have less 
margin few error.” 

So upset was Mr. Kim by the stark 
realities of South Korea’s sagging econ- 
omy that he publicly took back a sug- 
gestion he made during his presidential 
campaign for renegotiating the $60 bil- 
lion bailout agreement pieced together 
by the IMF. 

See WON, Page 4 


Seoul, Bangkok 
And Jakarta Hit 


By Thomas Crampion 

tniernoinnuil IlcruU Tribune 

BANGKOK — Asia’s hardest hit 
economies — those of South Korea. 
Indonesia and Thailand — suffered a 
further blow Monday when Moody's 
Investor Services Inc .’downgraded their 
credit rating (0 junk level. 

In doing so, Moody's assigned to the 
three East Asian governments a rating 
normally reserved for high-risk corpo- 
rate ventures. 

The downgrade will make borrowing 
more expensive for the countries and for 
cash-strapped companies that operate in 
them. Analysis said it could also be a 
factor in prolonging and deepening the 
region’s crisis. 

The move, which affects an estimated 
5275 billion in debt held by the three 
countries, was the most sweeping ever 
made by the U.S.-based ratings agency, 
and it pummcled currencies and markets 
in toe region. It raised fears that (he 
increased cost of funds would send thou- 
sands of companies into bankruptcy. 

Japan's Nikkei index slumped 5.4 
percent, to a 30-month low of 
14,799.40, followed by losses in Hong 
Kong and almost all regional exchanges 
apart from Manila and” Jakarta. 

The South Korean won closed at 
1.710 to the U.S. dollar, down sharply 
from 1.550 last week. The Thai baht 
weakened in offshore trading and the 
Philippine peso also fell. 

* ’Clearly people are more reluctant to 
put money into instruments with lower 
ratings, and there are institutional in- 
vestors in the United Slates that are not 
allowed to invest in debt instruments 
that fall below a certain ranking,’ ’ said 
Anthony Rawlinson, vice president of 
Asian equity at Caspian Securities. 

David Hale, global economic 
strategist at Zurich Kemper Investments 
Inc., called the downgrades a belated 
response that merely confirmed the se- 
riousness of the economic crisis afflict- 
ing the countries. 

* ‘What we really need to be looking at 
is Korea's attempt to sell $9 billion worth 
of bonds in January,” Mr. Hale said. “If 
they succeed, we may see our way out of 
this crisis. If they don’t, we may be 
visiting a debt-moratorium scenario.” 

That bond sale — like plans by the 

See JUNK, Page 10 


Share Prices Plunge Again in Tokyo 



Tim V — i i nk i/Afcnw Fr»T.Prrvr 

A distressed dealer at the Tokyo Stock Exchange watching stock 
prices Monday as the Nikkei index plunged 3.37 percent. Page 13. 


South Koreans Release 
2 Jailed Ex-Presidents 


By David Holley 

Los Angeles Tunes Service 


SEOUL — Two former presidents, 
Chtra Doo Hwan and Roh Tae Woo, 
were freed from prison Monday after 
the cabinet approved a pardon issued by 
President Kim Young Sam. 

The decision to release Mr. Chun and 
Mr. Rob, who have been imprisoned 
since 1995 for mutiny, treason and 
bribery, was readied jointly by Pres- 
ident Kim and his newly elected suc- 
cessor, Kim Dae Jung, at a meeting 
Saturday at tbe presidential Blue 
House. 

“I deeply apologize to the people for 
the anxiety ana concern I and my family 
caused, and I thank toe people for their 
warm encouragement and love shown to 
me d a rin g toe past two years,” Mr. 
Chun said at toe gate of Anyang De- 
tention Ceacer after his release. 

Mr. Roh said, after his release from 
Seoul Detention Center, “I hope the 
president-elect will lead die people to 


rebuild our economy and to eliminate 
regional and class disputes, and 1 am 
sure he will succeed in this." 

Mr. Chun, 66. and Mr. Roh, 65, are 
symbols of the military dictatorships 
that for nearly three decades crushed 
dissent in South Korea. Because the two 
Kims led tbe opposition fight against 
military rule, even a superficial recon- 
ciliation among toe four men could do 
much to mend this nation’s emotional 
wounds and regional antagonisms. 

[About 20 women from a leading 
human-rights group, Mingahyup. tried 
to stop Mr. Qian’s car from leaving the 
prison but were restrained by the police. 
Reuters reported. 

[Later, at a university near the homes 
of toe two former presidents. 300 stu- 
dents shouting “No freedom to Chun 
and Roh! ” dashed with riot police. The 
Associated Press reported that the po- 
lice. holding plastic shields interlocked 
in from of them and occasionally firing 

See KOREA, Page 4 


W*" 






INTERNATIONAL TTFRAT.n TRIBUNE, TUESDAY, DECEMBER 23, 1997 



PAGE TWO 


He's Soft, He's Tough, He’s Steiff/ Survivor of Hie Cold, Cruel World Market 

Who’s King of Teddy Bears? The Inventor Has It All Sewed Up 


By John Schmid 

IntemtnUmal Herald Tribune 


G IENGEN, Germany — Paying a 
couple of hundred dollars for a teddy 
bear that neither w allre nor talks hardly 
seems like a Christmas bargain. And 
yet. in what must be one of the most unlikely 
success stories in toy history, a small stuffed 
animal company in southern Germany has found 
an enduring bull market for bears, consistently 
co mm anding plush prices both in toy stores and 
on the auction block — hundred of thousands of 
dollars at Christie’s and Sotheby's, for ex- 
ample. 

Margarets Steiff GmbH, founded 120 years 
ago in this rustic town with a peaceful river, has 
managed to thrive despite competition from 
cheap-wage Asian sewing shops that mass pro- 
duce stuffed animals at a fraction of Stem’s 
steep union-imposed German labor costs. 

Even as disappointing retail sales dampen 
holiday spirits across much of the European 
Continent, Steiff is ending a year that saw the 
production of its high-quality high-price teddy 
bears rise nearly 30 percent, to 450,000 teddies 
from 350,000 in 1996. Full-year 1997 sales have 
risen over 6 percent and will exceed 100 milli on 
Deutsche marks (.$56 million) for the first time in 
the company’s celebrated history, said its chair- 
man. Bernard Roesner. 

“We had an exceptionally good year,” said 
Mr. Roesner, whose family-owned company 
takes credit for stuffing and stitching the world’s 
first factory-made teddy bear in 1902. New 
orders outpace sales, keeping SteifFs staff of 
1 ,000 at capacity, he said. 


B 


al 

the 


ECAUSE STEIFF insists on old- world 
labor-intensive means of production — 
sewing on noses by hand, coiffing the 
mohair and polishing each eye — glob- 
ition theoretically should have beaten 
ig out of Steiff years ago. 

The cheapest and smallest Stem teddy fetches 
69 DM. From there, prices run as high as 900 DM 
for limited edition replica Steiff bears that match 
tum-of-tbe-century o riginals down to the wood- 
shaved stuffing. 

Vintage Staffs bears have commanded the 
10 highest teddy prices ever attained at public 
auction. The record sale price for a teddy bear 
was set in December 1994 fora 1904 Stein bear 
sold to a Japanese buyer at Christie’s in London 





Steiff teddy bears* left to tight , from 1904, 1920, 1950 and 1990 have been 
bom of old-world labor-intensive means of production: sewing on noses by 
hand, coiffing the mohair, polishing each eye* 


for 270,000 DM. Last July at a Christie’s auc- 
tion, a 70-year-old Steiff bear came in second at 
189,550 DM. 

Such feats are ail the mfere impressive in a year 



teddy bears look like mute relics from the pre- 
digital age. 

"The virtual world has a poverty of feeling 
and emotion. Children, though, live in a world 
brimming with feeling and emotion,” Mr. Roes- 
ner said. "Here lies a big opportunity for a 
company like Steiff.” 

For decades, child psychologists, sociolo- 
gists, serious collectors and even a raft of teddy 
bear journals have studied what they call the 
teddy bear phenomenon. Helping explain why 
both children and adults covet their bears, uni- 
versities in Munich and Kiel have done seminars 
on the theme. 

But as Christopher Robin Milne and his 1 ‘silly 
old bear* * have shown, one does not need a Ph.D. 
to recognize the appeal of a roly-poly creature 
with stumpy outstretched aims. To some chil- 
dren, they become companions not easily for- 
gotten, even beyond childhood. 


"Why the Teddy Has a Soul” is the title of a 
scholarly 1 1-page article this year in the German 
science magazine GEO. Alongside security 
blankets and pacifiers, they are what psychol- 
ogists call “comfort aids” that calm periods of 
tension but also can induce trauma when losL 
Like Calvin and his comic-strip relationship to 
his staffed tiger, Hobbes, they become a fast 
source of requited love. 


R! 


ECOGNIZING THEIR potency, po- 
licemen in cities like Miami and Seattle 
pot teddies, albeit less costly ones, in 
.squad cars to pacify shocked children. 
Hospitals use than for therapy. In the 1991 Gulf 
War, social activists fought their way through a 
trade embargo until a shipment of 2,000 teddies 
were sent to war-stricken children in Iraq. 

Kerry Taylor, in-house teddy bear expert at 
Sotheby’s in London who conducts several 
teddy auctions each year, has spent 15 years 
collecting Steiff bears and their stories. Steiff 
bears accompanied German soldiers in their 
jacket pockets into battle and prison camps, she 
said. 

Even during wars and stock market crashes, 
Sotheby’s always sells all of its teddy bears, said 


Ms. Taylor. "The same cannot be said of Im- 
pressionist paintings,” she said. 

"Prices are high, but the cost is amortized 
because people save them their whole lives or 
buy them as investments,” said Gabriele 
Schoetring, a Steiff spokeswoman. "What we 
offer is emotion and the Steiff myth.” 

Ramping up teddy bear output was a natural 
strategy in 1997, the 150th anniversary of the 
company’s founder, “Gretchen” Steiff. The 
company recognized a chance to stitch together a 
mgrir wring strategy based on the company's rags- 
to-riches legend, helping it expand in North 
America and Asia. 


C 


RIPPLED BY polio from childhood, 
Gretchen Steiff began a family sewing 
business from a wheelchair. In 1903. 
she won her first export order to the 
United States — for 3,000 teddies sold to a 
Manhattan wholesaler — just in time for Pres- 
ident Theodore Roosevelt to launch the teddy 
bear boom by sparing tbe life of a bear cub on a 
huntingtrip, maxing Teddy Roosevelt a hero and 
the stuffed bear his eponymous mascot. 

It is critical for Steiff to expand gingerly, 
resisting the impulse to ratchet output to meet 
full demand, expats in the auction business say. 
The company can risk eroding value for col- 
lectors and upsetting collectors, leaving the 
Straff image vulnerable. 

Steiff s hallmar ks are durability, craftsman- 
ship and a brass button in the left ear — a custom 
begun in 1 904 to deter black-market copies. 

Piggybacking on demand for its teddies, the 
company long ago also expanded into stuffed 
tigers, piggies, kittens and owls. 

It operates an entire division to make mech- 
anized department store displays for Christmas, 
which appear in Europe and the United States. 
But the company’s bears continue to account for 
one-third or its 1_5 million annual plush toy 
output 

**As long as we promote our exports, the 
teddy bear will always have a major share for 
us,” Mr. Roesner said. "Steiff invented the 
teddy bear and without teddy bears, it is very 
very tough to crack new markets. ’ ’ 

At a Sotheby’s auction in late November, a 
deformed 19 10 Steiff bear fetched nearly £3,000 
($5,000) despite a hunched back because a child 
slept on it As Ms. Taylor recalled, “He was bald 
in one spot where a little hand had held him for 
years.” 


Another Case 
Of Avian Flu 
Is Suspected in 
Hong Kong 


A 


By Keith B. Richburg 

Hjptofgrgw Post Sen ice 


Killings by Hutu Frustrate Hope of Nation-Building in Rwanda 


By James C. McKinley Jr. 
Nr* York Tones Service 


KIGALI, Rwanda — The Hutn guer- 
rillas who massacred more than 270 
Tutsi refugees in Rwanda recently do 
not yet seem to have the or ganizatio n, 
aims or manpower to defeat the gov- 
ernment’s Tutsi-led army or to take over 
this hilly capital, military experts in the 
region say. 

But il hardly matters. In the long run, 
diplomats say, the terrorist war by Hutu 
militants in Rwanda’s northwest will eat 
at the country like a cancer. 

The violence could make it im- 
possible for what is essentially a mil- 
itary government controlled by the Tutsi 
minority to heal the rift with die Hutu 
majority, rebuild the economy and 
move the nation toward democracy. 

“Everything that means political 
progress is paralyzed because of the 
insecurity.” a diplomat in Kigali said. 
"That’s the cornerstone. As long as they 
don’t have this situation, controlled in 
the north, there is no way they can 
achieve anything else.” 

Hutu militants, who advocate the 
wiping out of the minority Tutsi, raided 
the refugee camp at Miidende shortly 
before midnight Dec. 10, leaving at least 
27 1 people dead in violence that echoed 
the 1994 killing frenzy here, in which 
more than a half million Tutsi died. 

The killings were just the latest at- 
rocity in a guerrilla conflict that has 
claimed at least 6,000 lives since May. 
In a sense, the massacre also marked the 
continuation of the Rwandan civil war 
that started in 1990. 

Thai conflict was interrupted in 1994 
when the Rwandan Patriotic Front — a 
Tutsi rebel army — seized the country, 
ended the massacres of Tutsi civilians 
and pushed tens of thousands of Hutu 
soldiers and militiamen into exile in 
Congo. They lived there for two years in 


United Nations refugee camps near the 
border along with a million other Hutu 
refugees. 

After Laurent Kabila’s successful 
takeover of Congo, the former Zaire, 
earlier this year, those militants began to 
drift home along with masses of in- 
nocent refugees. The closing of the 

NEWS ANALYSIS ~~ 

camps was not an accident The Tutsi- 
led military in Rwanda had backed Mr. 
Kabila’s revolt in an effort to destroy the 
militants, whom the government here 
blamed not only for the massacres but 
also for launching raids into Rwanda. 

Human-rights groups have asserted 
that the Tutsi soldiers in Mr. Kabila's 
army, along with their Rwandan allies, 
also massacred thousands of innocent 
Hutu refugees during the war. 

By backing Mr. Kabila’s rebellion, 
the Tutsi leaders in Kigali hoped to end 


the conflict between Hum and Tutsi 
once and for all, taking away the rear 
bases for the Hutu guerrillas, Rwandan 
defense officials have said But their 
plan has so far foiled, diplomats say. 

Since Mr. Kabila took power in 
Congo, the guerrilla conflict has es- 
calated in northwest Rwanda. In recent 
months, armed Hutu bands have been 
attacking more targets, in greater num- 
bers and during the daylight 

For several reasons the Rwandan 
Army, once considered nearly Invin- 
cible against die. Hutu forces, has not 
been able to stop the carnage, despite 
having allies on the other side of the 
Congolese border. 

To begin with, Mr. Kabila's army has 
failed to destroy the militants' rear bases 
in the Masisi and Rutshuru regions of 
Congo, where hundreds of thousands of 
ethnic Hutu live. The Hutu militants 
appear to be able to cross the moun- 
tainous border, which is a national park 


and the last home of the mountain gor- 
illa, with little trouble, conservationists 
in Congo say. 

Perhaps more important, the 
Rwandan Patriotic Front is not the fight- 
ing. force . it .was when it seized the 
country, thrae ycars^go, diplomats say. 
While it has been expandedftom 15,000 
to -40,000 troops, -thousands of expe- 
rienced fighters have retired. 

The new recruits are not as well 
trained as the seasoned bush fighters 
who invaded Rwanda in 1990 and start- 
ed the civil war. diplomats say. What’s 
more, nearly a third of (he Tutsi in the 
army are under 18. 

They have been at war for more than 
a year, slogging through hostile territory 
in Rwanda or in Congo, fighting against 
a brutal enemy that moves at night and 
has no qualms about killing innocent 
Tutsi families. A result is a tired, angry 
force that is hard to control. 

Human-rights monitors estimate rH»r 


thousands of unarmed Hutn civilians 
have been killed by these soldiers dur- 
ing counterinsurgency campaigns in the 
northwest this year. These abuses have 
only swelled the ranks of the Hum guer- 
rillas, ... 

To make matters harder for the army, 
the guerrillas enjoy popular support in 
the northwest In the 19th century the 
region was a Hum kingdom that refused 
to be conquered by the Tutsi kings in foe 
southeast of foe country. 

Since the country gained indepen- 
dence in 1962, foe northwest was foe 
political stronghold of foe ruling Hutu 
elite and foe recruiting ground lor foe 
army. Many of foe current guerrillas 
have family members in the region, 
local officials say. 

Not only does the local population 
feed and hide the guerrillas — 85 per- 
cent of Rwandans are Hutu — but they 
also sometimes join in foe attacks, dip- 
lomats and military officials say. 


HONG KONG — A 6-year-old boy 
has been hospitalized with a suspected 
case of avian flu. bringing to 11 the total 
number of people suspected or op. 
firmed to have been infected with foe. 

mysterious influenza. .# 

Three of foe victims have died. - ; 
Government health officials and in- 
teraational flu experts have tried w ease 
public panic here, insisting that the djs- 
ease is hard to catch and that the rel- 
atively «m.tH number of cases does rat 
amount to an epidemic. But they also 
say that much about the disease remains 
unknown, such as how it initially spread 
from birds to humans, and whether hu- 
man-to-human contact is possible. . 

Hong Kong consumers are staying 
awav from chicken, leading to a 70 
percent drop in poultry sale®, evea 
though doctors insist that cookfd 
poultry is safe. . 

The virus, with the scientific name of 
H5N1, is thought to be spread by han- 
dling infected birds and chickens. Many 
Hong Kongers like to buy chickens live I 
in city markets. The avian flu is also 
taking its toll on Hong Kong’s battered 
tourism industry, which was already 
reeling from a huge drop-off in visitors 
this year caused by foe regional eco- 
nomic crisis, a debilitating smog that 
closed down several regional airports 
and what tourism officials have de- 
scribed as "post-handover burnout,” 
with many potential tourists staying 
away since foe former British colony 
was handed back to China on July 1., 
Officials said they had heard repots 
of tourists' canceling flights because of 
the flu. The World Health Organization 
has said there is no need to restrict travel 
to Hong Kong because of the virus. 

Some local politicians have begun 
calling this week for foe government <to 
increase its screening of all flu patienjs, * 
to better detect who might be infected# 
with foe virus, and representatives of the 
territory’s chicken farmers lobbied foe 
government to take more action to con- 
vince foe public that eating chicken was 
still safe. 

Hong Kong has about 60 chicken 
farms, with 1.25 million birds, but most 
poultry here is imported from mainland 
China. Legislators were asking the gov- 
ernment Monday to request more in- 
formation from China about foe incid- 
ence of avian flu among mainland 
flocks. [ 

The suspected and.canftnned avian 
flu cases so far include seven children 
under 6, a teenager, and three adults.- 
Of those, a 3-year-old boy, a 54-year- 
old man and a 13-year-old girl haye 
died. | 

The girl died last weekend, after more 
than three weeks in a hospital, and dqc- 
tors said by the time she had been ad- 
mitted it was too late for drug treatment 
Avian flu symptoms are similar to 
normal flu viruses — fever and chills, .* 
sore throats and muscle aches. , 

International experts who have come * 
here to study the virus said the number 
of new cases might rise because of 
stepped up surveillance for foe virus at 
area hospitals. 


TRAVEL UPDATE 


WEATHER 


Road Go-Slow in Italy Airport Smoking Ban 


Europe 


ROME (AFP) — Italy’s main roads 
into France and Austria, as well as high- 
ways around several of its major cities, 
wifi be dogged Tuesday by truckers 
staging a go-slow protest over govern- 
ment plans to cut their pensions. 

"The demonstration will be limited 
to a few hours during the morning so as 
not to create difficulties for road-usere,” 
a union spokesman said Monday. 

The Mont Blanc tunnel at foe French 
border will be targeted between 9 A.M. 
and 1 1 A.M., as will foe national road 
from Brenneio to foe Austrian frontier. 
Highways between Milan and Varese 
and Como and Chiasso will be jammed 
by slow-moving tracks. 


FRANKFURT (Reuters) — Frank- 
furt’s international airport has an- 
nounced a ban on smoking in most of its 
passenger areas as of Jan. L 

The ban will cover 90 percent of foe 
airport’s terminal complex, confining 
smokers to a few designated areas. 

There are few limits on smokers in 
Germany. 

European Union regulators gave 
approval Monday to a joint venture in 
which Ireland’s state-owned airport op- 
erator, Aer Rianta International, and 
Germany’s Hochtief Prajekt- 
entwicklung will each take a 50 percent 
stake in Dosseldorf Airport. (AP) 



US Dollar Up or Down? 

US Dollar Policy Will Generate 
Major Currency Moves. 

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


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Spain M11B31 007 Sweden 020703158 

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Fresh Case of TVIad Cow 5 in France 

Reuters 

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The cow, in a herd in Plonevez du Faou, Brittany, was bom in 
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ground animal pans, an Agriculture Ministry official Raid 


Ifavufd {Bo* 

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Forecast for Wednesday through Friday, as provided by AccuWeather. Asia 



North America Europe Asia 

£ WfwjO Mantle storm wU Travel lo Asia should be 
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(rom Detroit and Buffalo Fan travel for Parts and Siberia so China will be 
northeast Into Montreal. Madrid wbh sunshine and turning colder. Japan vri 

of sunshtw forecast 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


RAGE 3 


A 


•‘“111 




' C* 


THE AMERICAS 


()i Asi^^US. Extradition Law Goes on Trial 

* S Sllsi 



a 


■Ai 


I(l ^ 




SAN FRANCISCO — A federal ap- 
peals court here has heard arguments in a 
case feat could force the government to 
renegotiate most of its international ex- 
tradition treaties and abandon its century- 
old practices for arresting and detaining 
fugitives found in the United States. 

. The case, which legal experts say will 
land in the Supreme Court next year, is 
, ’ already complicating the government's 
■’ ‘X- ability to extradite international fugit- 
v, u - ives. and is straining the State Depart- 
, ment’s relations with its extradition 
•iV w vk treaty partners. 

.. , - Ai issue in the case, which is known as 

Gian carlo Parretti vs. United States, is a 
' ■■ 1 ' 1 4: distinctive feature of extradition law: the 
government’s ability to obtain an arrest 
. ‘ He,.- warrant for a fugitive found in the United 
'' States without showing “probable 

•• 'cause’’ to believe the fugitive commit- 

J M 'ted a crime abroad. 

By contrast, when the government 
: s seeks an arrest warrant in a domestic 
- criminal case, it must offer affidavits or 
‘ it*’ other documents from which a court can 

• ’ "'find probable cause to believe that the 
person whose arrest is sought committed 
-- -vTtri- the crime charged. 

> The justification for allowing courts 
-■ i. !■„>•> to issue extradition arrest warrants with- 

■ ' k\ out documentary evidence has been die 
' -.’m^need to arrest fugitives immediately, 
H - without losing the weeks it can take for 

■ ;i.«i „V- the foreign government to assemble, 
• t r se ;, • translate and transmit the documents. 

■ i-^- * As a result, the government has been 


the fugitive is charged abroad with an 
offense covered by an extradition treaty. 

In May. a three-judge panel of the 9th 
U.S. Circuit Court of Appeals, ruling in 
the Parretti case, held that this practice 
violated thep.- 'hable-canse requirement 
of the Fourth /v^eendment. The gov- 
ernment asked an 1 1 -judge panel last 
week to review the ruling. 

The Parretti case began in 1995. when 
federal agents entered the offices of „ 
Los Angeles law firm with an arrest 
warrant for Mr. Parretti, an Italia n fin- 
ancier who was there to attend a de- 
position in a lawsuit stemming from his 
highly leveraged purchase of MGM- 
United Artists, the entertainment con- 
glomerate. The agents arrested Mr. Par- 
retti so that he could be held pending a 
request by France for his extradition to 
face fraud charges there. 

To get the arrest warrant for Mr. Par- 
retti, the government furnished a federal 
magistrate with a document summar- 
izing the charges against him in 
France. 

At a detention hearing. Mr. Parretti 
argued that bis arrest violated the Fourth 
Amendment because the warrant had not 
been supported by probable cause. He 
also moved for release on bail. Mag- 
istrate Judge Joseph Reichmann rejected 
both arguments and ordered Mr. Parretti 
detained pending die extradition pro- 
ceedings. 

After Mr. Parretti challenged that rul- 
ing, the three-judge appellate panel re- 
leased him on bond while it reviewed the 


his favor. 

At last Thursday’s hearing, several 
judges asked the government lawyer ar- 
guing the case to defend the practice of 
obtaining arrest warrants. “How can tire 
government justify throwing someone in 
jail without any showing of any kind?” 
Judge Stephen Reinhardt asked 

Nora Mane 11 a, the U.S. attorney in 
Los Angeles and the lawyer who argued 
the case for die government, said the 
urgency of complying with extradition 
treaties was often incompatible with the 
lengthy process of obtaining documen- 
tary evidence to support a probable 
cause showing. 

“The three-judge appellate panel has 
imposed unprecedented and unwarran- 
ted barriers on extradition which will 
impede our apprehension of fleeing fu- 
gitives." she said. 

More broadly, legal experts said, the 
case calls into question whether fugit- 
ives in extradition cases should continue 
to be accorded fewer constitutional pro- 
tections than defendants in domestic 
criminal cases. 

Because courts have taken the view 
that extradition proceedings are not 
criminal in nature, they have tradition- 
ally declined to give international fu- 
gitives constitutional protections that 
could delay extradition. 

In some quarters, the Parretti decision 
has been welcomed as a long-overdue 
step toward modernizing the arcane and 
sometimes archaic law of international 
extradition. 


rtfvrl 

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Snuff Out the Old, Breathe In the New? 

Foes of California’s Bar-Smoking Ban Would Rather Fight Than Ditch 


ByDanMorain 

• • • ’ Los Angrier Tuitn Service 

• • SACRAMENTO. Califor- 

• nia — If all goes according to 
law. as the clock strikes mid- 
night on Dec. 31. bartenders 

~ at California's 35396 saloons 
- will ask their patrons to snuff 
out their smokes, then gather 

• up the ashtrays. 

If the patrons comply, Cali- 
■ ’ r fomia will be transformed in- 

- to the first state in the United 
-States with smoke-free bars 
'* and casinos. 

Those are two big “ifs." 

- While anti-smokers bail the 
• T step, seeing bars as a major 

hardle toward ridding public 
places- of - tobacco fumes, 
-"Smokers are fuming. “The 
-- pleasure police are at it 
. again,” said Harold Maltz, 
. .:*■ manager of Wally's Cigar 
Bax in Westwood. 

A lawsuit has been filed by 
Bay Area casinos to block the 
l.' law’s enforcement- Some bar 
and casino owners, fearing a 
.-. drop in business, are consult- 
. ing with lawyers to seek out 
... loopholes. 


Some bold out hope that 
the state legislature will re- 
verse itself and lift the law, 
although that is unlikely. A 
few die-hards predict that 
smokers, having been driven 
from offices, movie theaters, 
restaurants and in some in- 
stances their own homes, will 
simply ignore this latest lung- 
saving effort. 

“Smokers have willingly 
given up the office, most 
workplaces, airplanes, airline 
ter minals , school campuses 
and restaurants,” said a Re- 
publican assemblyman, Brett 
Granlnnd, who describes 
himself as the legislature’s 
“most notorious smoker." 
albeit one whose New Year’s 
resolution is to kick the 
habit ; 

"I don’t believe they’re 
going to give up bars,” Mr. 
Gradund added. “I don’t be- 
lieve a nonsmoker has any 
concept of the urge to smoke 
and how strong that physical 
addiction is when comple- 
mented with a couple of 
beers." 

Anti-smoking advocates 



Away From Politics 

•A toddler sightseeing with her parents fell to her 
death from the Golden Gate Bridge despite her father's 
desperate rescue attempt Witnesses said the father tried 
to grab 2-year-old Gauri Govil as she slipped through a 
gap between the walkway and traffic lanes. (AP) 

•Three firefighters were injured, two of them se- 
riously, when sawdust inside a silo already on fire at a 
cable reel malting plant in Statesville, North Carolina, 
sparked a flash explosion: (AP ) 

• Two asters who had just witnessed their mother give 
birth to twins were killed in a fiery collision after their 
car was struck in the rear by a drunken driver, authorities 
in Apple Valley, California, said, (AP ) 


believe that if California's at- 
tempt to halt smoking in bars 
works, more states will at- 
tempt to limit workplace 
smoking. 

“This is real change,” said 
Stanton Glantz, a medical- 
school professor at the Uni- 
versity of California's San 
Francisco campus and a lead- 
er in the anti-tobacco move- 
ment “Bars are so clearly 
viewed as the toughest place 
and last bastion. The fact that 


A lawsuit has 
been filed by Bay 
Area casinos to - 
block, the law’s 
enforcement. 

Some bar owners 
are consulting 
with lawyers to 
seek out loopholes. 


a place as big and diverse as 
California can do this will 
embolden other places. ’ ’ 

To drum up support, the 
state Department of Health 
Services is airing television 
and radio advertisements. 
The ads portray waitresses 
bemoaning smoke and point- 
ing out that restaurant and bar 
workers have especially high 
cancer and heart attack rates. 

There has been widespread 
compliance with the 
statewide restaurant smoking 
ban that took effect in 1995. 


That gives hope to Colleen 
Stevens of the state health de- 
partment' s tobacco-control 
section that the smoking ban 
in bars will take hold. 

While acknowledging that 
the prohibition on smoking in 
bars and card rooms will not 
be a “cakewalk." Ms. 
Stevens pointed out that of 
California’s 35,596 busi- 
nesses licensed to serve 
drinks. 30,724 also serve 
food. 

“We know there is an in- 
credible demand among 
smokers and nonsmokers that 
they do not want smoke 
around when they eat” she 
said- “ft will just become the 
norm. People will go outside 
<b smoke. 

The legislature approved 
and Governor Pete Wilson 
signed California’s indoor- 
workplace smoking ban in 
1994, despite one of the most 
intense lobbying efforts ever 
mounted by the tobacco in- 
dustry and its allies. 

A former assemblyman, 
Terry Friedman of Los 
Angeles, the measure’s au- 
thor, cast the bill as a worker- 
protection measure. Jt at- 
tempts to pro tea workers’ 
health by prohibiting 
smoking in almost all en- 
closed workplaces, ranging 
from offices and auto garages 
to restaurants. 

Separate legislation ap- 
proved in 1996, meanwhile, 
allowed smoking in ban for 
another year. Bills to grant yet 
another extension faded this 
year, thus leaving fee ban in 
place as of Jan. i. 


Canada Investigates 
Tainted-Blood Cases 

” The Associated Prejs 

" OTTAWA — The Royal 
"Canadian Mounted Police are 
investigating whether crimin- 
al wrongdoing occurred in a 
tainted-blood scandal that in- 
fected thousands of Cana- 
dians wife fee AIDS virus and 
^Mtitis C. 

- Corporal Grilles Moreau, a 
spokesman for fee national 
police force, said Monday 
tea an eight-member squad 
would take three months to 
assess whether there was suf- 
ficient evidence for a full- 
scale criminal investigation. 

About 2.000 recipients of 
blood and blood products 
; wee infected wife fee AIDS 
v inis between 1980 and 1985; 
* 60,000 contracted hepatitis C. 


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The Spirit Of 
Christmas 



■«"»«•> * . -• ..... ■ 



Miflifiiall:. V.tKi htMI Hh>V 

CHEERS — Former Senator Bob Dole, left, his wife, Elizabeth, and President Bill Clinton on their way to 
T nzla, Bosnia-Herzegovina. on Monday. Mr. Dole told the troops that he had made the trip to support the 
president and that “1 believe it is worthwhile, and I hope you believe the effort in Bosnia is worthwhile." 


POLITICAL NOTES 


Congress 9 Iran Hand 

WASHINGTON — Presided Bill 
Clinton, meet Bob Ney. 

Way down fee Capitol Hill pecking 
order is a 43- year-old conservative Re- 
publican from rural Ohio who has been 
La Congress three years and is best 
known for toughening work require- 
ments for food stamp recipients. 

But Mr. Ney also has an intriguing 
background and expertise: He once 
lived in Iran and is the only member of 
Congress wbD speaks fluent Farsi. 

In fee wake of fee announcement by 
President Mohammed Khatami of Iran 
that he wants a “thoughtful” dialogue 
wife fee United States, and Mr. Clin- 
ton’s reply that he would like ‘'nothing 
better,'’ Mr. Ney hopes to put his skills 
to good use. 

“1 haven't sent a personal note to Bill 
Clinton or anything like than” said Mr. 
Ney, a loyal soldier in the Republican 
ranks who knows his place. “Being a 
member of Congress, you don’t just 
singularly conduct foreign policy. Bur 
if the president called. I'd be more than 
happy to help, more than happy, and to 
find other members, too.’ ’ 


Since Mr. Khatami was swept into 
office last May on a platform of tol- 
erance and respect for the rule of law . 
Mr. Ney has unabashedly told stories 
about Iran to Rotary' Clubs, town meet- 
ings and almost anyone else who will 
listen. 

He explains how wonderful the Ira- 
nian people are. how great the food is. 
how family values are more embedded 
there titan in fee United States and how 
he was dead wrong when he supported 
isolating the country after he entered 
Congress. So far. however. Mr. Ney 
has not had much luck getting through 
to either the administration or the lead- 
ership in Congress. fA'ITi 

New Attack on Drugs 

WASHINGTON — The Clinton ad- 
ministration will soon begin a S195 
million ami-drug media campaign 
aimed at youth with a S20 million 
effort in 1 2 cities from coast to coasL 

During the four-month opening 
phase, anti-drug messages will run 
everywhere that children ages 9 to 17 
are Qkely to be watching, such as tele- 
vision or the Internet, fee director of fee 


Office of National Drug Control Policy. 
Barry McCaffrey. said" Sunday. 

“Today's announcement marks the 
Jnmxuy initiation of a multifaceted na- 
tional campaign that will harness the 
energies of parent?., mass media, cor- 
porate America and the ami-drug co- 
alitions to hall and reverse the disturbing 
rise in drug use among young people." 
General McCaffrey said in a statement. 

The ads are to be tested in Aiiantu: 
Baltimore: Boise. Idaho: Denver. Hart- 
ford. Connecticut.: Houston: Milwau- 
kee: Portland. Oregon: San Diego: 
Sioux City. Iowa: Tucson. .Arizona, 
and Washington. { API 

Quote /Unquote 

Jonathan Coleman, the author of 
“Long Way to Go." a study of race 
relations in Milwaukee, on reconciling 
opposing positions on race and affirm- 
ative action in the United States: “Per- 
ceptions are part of the gray areas. 
That's where people need to be going, 
into those gray areas. And feat’s where 
people are most afraid. So it’s easy to 
line up behind polarized positions. It 
requires less courage." (NiTl 


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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 2$, 1997 

ASIA/PACIFIC 


R 


South Koreans Hustle the Reviled Kim Toward an Early Exit 




By Nicholas D. Kristof 

New Tfork rimes Service 

SEOUL — There is something 
poignant about how President Kim 
Young Sam, the most powerful man in 
the land, is widely regarded as South 
Korea's greatest failure. 

Mr. Kim was a democracy campaign- 
er under military dictatorships and as 
president for the last Eve years he con- 
solidated democratic rule in South 
Korea. But when university students 
were asked whom they would most like 
to clone, one of the most common re- 
sponses was a dead dictator. Park Chung 
Hee. 'Wheat asked whom they would 
least like to clone, the winner was Kim 
Young Sam. 

Mr. Kim had already lost much of his 
popularity by last year because of scan- 
dals and a perception that he offered 
little leadership. But he became truly 
reviled only in the last mouth, after 
South Korea had to be rescued by the 
International Monetary Fund. Mr. Kim 
was blamed for betraying his nation and 
humiliating the Korean people. 

“Even a housewife knows how to 
manage her money, so I don't under- 
stand how our leaders could let the coun- 
try plunge into this situation,*’ said Lee 
Hye Ok, 37, as she sat on a stool and 


In Kwangju, 
Outrage Over 
The Releases 


By Don Kirk, 

International Herald Tribune 

KWANGJU, South Korea — Every 
day, the mourners arrive at the May 18 
cemetery, pausing perhaps to pray at the 
foot of the soaring monument before 
approaching the gravestones dug in 
mounds of earth piled in neat rows on the 
slope of a hill. 

Usually the mourners, most of them 
widows and mothers of those who were 
gunned down or stabbed or beaten to 
death in the Kwangju massacre of May 
1980, sit, stare or kneel in silence, leav- 
ing behind a flower or a bouquet. 

This day, however, was different. 
They had just heard that (he two mot 
convicted of ordering troops into the 
bean of this city, firing into mobs on 
May 27, 1 980, the 1 0th day of the revolt, 
were leaving prison. While the women 
prayed, Chun Doo Hwan, the farmer 
general and president most deeply im- 
plicated in the massacre, and Rob Tae 
Woo, the general who succeeded Mr. 
Chun as president in 1988, were about to 
go free. 

The fact that President Kira Young 
Sam should grant amnesty to both of 
them, jailed two years ago for their 
roles in the massacre as well as 
massive corruption, outraged some 
mourners - 

Sitting in front of the grave of her son, 
Kim Soon Hee could hardly believe the 
news. 

“Those who committed crimes 
against our people should be punished 
most severefy/' she said. 

If Mr. Chun “had not been president 
at the rime.” she said, “he would have 
been executed.” 

Only the fact that Kim Dae Jung — 
the president-elect and most popular 
figure ever to emerge from the south- 
west Cholla region that includes this 
city — approved the amnesty some- 
what mollified the women, some 
alone, others standing or sitting in 
twos and threes, scattered through the 
cemetery. 

“We should just follow his opinion 
even though we are not happy about it/' 
said Kim Soon Hee. “Perhaps it is best 
for national unity/' 

She and other mourners were more 
anxious, however, to talk about the op- 
pression of the two former presidents 
than the need for reconciliation. 

‘ ‘I lost ray high school son,” said Kim 
Kil Ja. “How can they release these 
people. Even though they are in jail, our 
anger cannot be pacified. How can they 
be out?" 

She demanded that Mr. Chun and Mr. 
Roh “kneel down and apologize before 
the graves of all those they killed.” 

Others recalled how the police, dazing 
the Chun and Roh era, would visit their 
homes, force them into buses and drive 
them either to jail or to distant points far 
from town when either of than was in 
the area. 

Nobody knows how many actually 
.died in the massacre, but more than 200 
are buried here. Estimates of the dead 
run as high as 1,000. 


sipped tea in the little shop she manages. 
“So I'm ashamed that we elected Kim 
Young Sam as our president.” 

Mr. Kim, whose approval rating in 
opinion polls has fallen from 90 percent 
in 1993 to below 10 percent today, de- 
clined to be interviewed. 

It is difficult to get his side of the 
story, because even his closest aides 
offer only lukewarm assessments at 
best 

“I don't think President 
Kim is solely responsible 
for what has happened,” 
said one aide. Another 
close associate offered that 
the president was a good 
man but was crippled by a 
lack of intelligence and broad-minded- 
ness. 

Indeed, Mr. Kim is so scorned that he 
is now under growing pressure to yield 
some authority to his archenemy. Pres- 
ident-elect Kim Dae Jung, before the 
formal handover of power on Feb. 25. 
An early handover seems unlikely, but 
the calls for it underscore the antipathy 
toward Mr. Kim. 

“Two months is too long,” a news- 
paper headline declared, capturing the 
anxiety about what will happen to the 
markets and the economy. 

The influential Korea Bar Association 


has said that South Korea’s financial 
crisis is “so serious that we can’t afford 
to wait until Feb. 25, nor can we trust this 
lame duck administration with the na- 
tion's future." It suggested that Pres- 
ident Kim hand over power immedi- 
ately. 

President Kim met Kim Dae Jung for 
lunch Saturday to discuss the transition 
and other subjects and they promised to 


rha npw in South Korea. He established of the presidential ca n didates insisted 


civilian control over the military and 
sent two former dictators, Chun Doo 
Hwan and Roh Tae Woo, to prison. On 
Saturday he ordered them released, but 
the lesson — that dictators may even- 
tually be punished for their brutality — 
reverberated across Asia. 

President Kim also banned die false - 
name bank accounts that were central to 


‘Even a housewife knows how to manage her 
money, so I don’t understand how our 
leaders could let the country plunge. 9 


cooperate. But President Kim did not 
offer to share power. 

During the campaign, Kim Dae Jung 
and both of the two other leading can- 
didates called on President Kim, who did 
not run for re-election, to cede power 
immediately after the election. “We 
cannot let things go rudderless until Feb. 
25, in view of the grave situation of the 
economy,” Kim Dae Jung said. 

He has not repeated the comment 
since the election, presumably to avoid 
offending President Kim. 

The venom felt for the president is 
startling, because he carried out historic 


that Ptiarident Kim was supporting 
someone else. 

The most charitable tiling that is usu- 
ally said ofhim is that he nose higher titan 
his abilities merited. 

“He bad a tremendous political in- 
tuition, which kept him surviving during 
difficult times/’ said Ben Q. Limb, an 

adviser to Kim Dae Jung. “But people 

the web of corruption that fel the wasn't intelligent enough to man- 
enveloped South Korean age national affairs. ’ 
business and government. One official who offers a rare bai- 
• Indeed, die crackdown anced analysis is Lec Hong Koo, who 
on corruption eventually served as prime minister under President 
ansnarad President Kim 's Kim. He suggested (hat the president 
own family and sent one of weakness was that he tried so hard to.be 

liked that he rarely risked exercising 
leadership based on principles. 

“On the plus side, he definitely con- 
tributed to democratization in Korea,” 
Mr. Lee said. “Even in tins crisis, no one 
worries about the military. In the past, 
when the going got tough, people would 
worry that someone in the military 
would get impatient. 

“As for minuses, he’s a real politi- 
cian. He always wanted to be a popular 
idem, and somehow on account of 
_ .. it didn’t work oul 
It's not you who lead (he people, but 
the people who lead you. In short, he’s 
very fearful of becoming unpopular.” 


his sons to prison, but in an 
odd way that was an achievement of 
sorts. 

It would have been unimaginable for a 
child of any previous president to go to 
jail, and the fact that Mr. Kim's son was 
disgraced and imprisoned was a remark- 
able tribute to South Korean democracy 
and the growing strength of the rule of 
law. 

But it is nearly impossible to find 
anyone who gives President Kim credit 
for these achievements. The governing 
changed its name to distance itself 
him and then asserted that it was 
not the governing party at all, while each 



GET ME OUTA HERE! — A Japanese girl letting Finland’s “official” Santa know Monday what she 
wanted. The Finnish goodwill envoy had come all the way from Santa Village to meet children in Tdkyo. 


BRIEFLY 


Philippine Opposition Selects 
Candidate for the Presidency 

MANILA — Vice President Joseph Estrada, a former 
movie star whose down-to-earth image has earned him wide 
popularity, was chosen Monday by the largest opposition 
party as its presidential candidate for elections next year. 

At a news conference, Mr. Estrada said he expected a 
tough tight against President Fidel Ramos's governing 
party, Lakas-NUCD, in the campaign. * ‘The days ahead are 
not going to be sb easy,” he said. 

Senator Edgardo Angara, the closest rival for the pres- 
idential nomination of the Struggle of the Nationalist 
Filipino Masses, agreed to run as vice president 

While Mr. Estrada, 60, consistently tops popularity sur- 
veys, many business people question whether he can con- 
tinue the successful economic reform policies introduced 
by Mr. Ramos, who is limited to a single six-year term by 
the constitution. (AP) 

U.S. Visa Plot Foiled in Pakistan 

ISLAMABAD, Pakistan — The U.S. Embassy in 
Pakistan dismissed three Pakistani employees caught tak- 
ing bribes from people applying for American visas, an 
embassy spokesman said Monday. Their cases have been 
turned over to Pakistan’s Federal Investigation Agency for 
possible criminal action. 

American officials say they do not believe visas were 
given to people wbo would not have otherwise received 
one. “That is what we are trying to stress to people who 
were coughing up this money — that they were buying 
nothing,” the embassy spokesman said. (AP) 

Hun Sen Snubs Push for a Truce 

BANGKOK — Hun Sen, second prime minister of 
Cambodia, reinforced his troops Monday as light righting 


continued with resistance farces despite an opposition 
leader’s attempt to bring in the United Nations to mediate a 
cease-fire. 

Exiled opposition politicians based in Bangkok, mean- 
while, said they had postponed their planned return to 
Cambodia because of Mr. Hun Sen’s offensive. 

But a representative of Prince Norodom Ranariddh, the 
co-prime minister deposed by Mr. Hun Sen’s coup in July, 
arrived in Phnom Penh to prepare for elections next year 
and the prince’s ‘ ‘imminent” return. (AP) 

A Taleban Protest at UN Office 

KABUL — More than 1 ,000 Taleban supporters protested 
outside a United Nations office in southern Afghanistan to 
demand an end to the UN criticism of die Islamic militia's 
human-rights record, Taleban officials said Monday. 

The protesters in Kandahar, about 420 kilometers (250 
miles) southwest of Kabul, said all Afghans supported the 
Taleban' s strict brand of Islamic law. Most stores In Kanda- 
har closed as people joined the peaceful protest on Sunday. 
The Islamic militia has banned women from work and girls 
from school, and forced men to grow beards and pray in 
mosques in the zones it controls. (AP) 

Malaysia Professors Held Again 

KUALA LUMPUR — Two university professors jailed 
for propagating teachings of the Shiite sect of Islam were 
arrested again minutes after their release Monday. 

The professors, Lutpi Ib rahim and Fadziuilah Shnib, had 
been ordered released on technical grounds after a high court 
judge ruled Saturday that they had been improperly arrested 
by policemen, the press agency Bemama reported. 

The two were detained Nov. 7 under Malaysia’s Internal 
Security Act, which gives the government the authority to 
detain people without trial for alleged involvement in 
activities deemed contrary to Muslim unity and national 
security, according to the New Sunday Times newspaper. 
Most Malaysian Muslims are Sunni. (AP) 


KOREA: 

Ex-Presidents Freed 

Continued from Page 1 

tear gas, blocked students from march- 
ing into the streets. There were no im- 
mediate reports of injuries or arrests.] 

Mr. Chun and Mr. Roh will not be 
allowed to recover wealth they accu- 
mulated during their presidencies, but 
they will have their civil rights restored, 
the government said. 

The two will be allowed to engage in 
political activities and to receive se- 
curity protection at taxpayers’ expense. 
Whether they get their presidential pen 
sions will be decided by the courts, ac- 
cording to Korean media reports. 

Mr. Chun was president from 1980 to 
1988, and Mr. Ron held office from 1988 
to 1993, when he was succeeded by 
President Kim. 

While the pardons have prompted 
some bitter criticism, they appear to 
have been widely accepted m South 
Korean society. 

“For the goal of national harmony, 
we can understand and even welcome 
their being pardoned for their crimes/’ 
said Park Jung Ki, whose son. Park Jong 
Oral, a college sophomore, was tortured 
to death while under police interrogation 
on Jan. 14, 1987. 

— Thatrcaserin which five police of- 
ficers were convicted, triggered months 
. of increasingly huge protests that forced 
Mr. Chhn to accept a more democratic 
constitution later mat year. 

Restoration of foe former presidents’ 
civil rights, however, “is absurd, and 
much too soon,” Mr. Park added 

“We at the association are enraged 
that the two will have their rights re- 
stored,” said Mr. Park, an official of the 
Democratic Family Association, a group 
of people who lost relatives in die de- 
mocracy struggle of die 1970s and 
1980s. 

By supporting the pardons, Kim Dae 


2 Koreas Hold j 
Review on Aid : 
Despite Crisis 

The Associated Pros 

BEIJING — Red Cross officials 
from the two Koreas began talks m 
Beijing on Monday amid worn** 
(tail foe South’s economic cnas 
might hurt its aid shipments to foe , 

N South Korean RedCross has : 
given North Korea 100,000 row of 

food this year. The talks ifi Bojrna 

were to review foe program and 
discuss a new agreement for food . 
deliveries, officials said. 

Lee Byung Woong. head of foe . 
South Korean Red Cross delega- ; 
tion, said his side hoped to provide ' 
the same amount of aid again in 
1998, although he acknowledge 
that foe South’s economic crisis 
might have a negative impact on the ^ 
its ability to grant aid. 

“Now we are in a very difficult 
situation, but we would like to seek ’ 
a contribution for foe sake of hu- 
m flnifnrianism and compatriot- 
ism," Mr. Lee said. 

South Korea’s currency lost 
much of its value against the dollar 
this year as foreign investors with- 
drew their holdings from domestic - 
marke ts as the amount of the coun- 
try’s indebtedness became known. 

Mr. Lee said his side had presen- ( 

ted a proposal for deliveries of food, 

clothing, medicine and other assist- ' 
ance, but he did not provide further ■ 
details. The talks will resume Tues- 
day. ) 

A better-than-expected autumn 
harvest still fell 2 million tons short 
of foe 4.6 million tons North Korea ‘ 
needs to feed its 25 million people, ^ 
said Johan Schaar. a Red Cross ' 
spokesman. , 

International aid groups have 
commitments for 1 million tons of .. 
food, but are still looking for donors , 
for the other million, he noted. 

Many South Koreans suspect that j 
some of the international relief giv- t 
eu to the North has been diverted to . 
the country's military. North Korea 
has denied the allegation. 

As a condition for more aid. .' 
South Korea demanded more rig- , 
orous monitoring of food deliveries, 
Mr. Lee said. 


* 


Jung — who is scheduled to take office 
Feb. 25 — seems sure to lessen an-, 
tagonism toward his presidency from- 
citizens of the country’s southeastern 
Kyongsang region, the political base for , 
both Mr. Chun and Mr. Roh. 

Mr. Chun and Mr Roh were con- . 


victed for their roles in a mutiny in 1979 
and a massacre and coup in 1' 


my i 

980 as well 

as for amas sing huge slush funds while ! 
in office. Mr. Chun was condemned to ; 
death, but that sentence was reduced on ' 
appeal to life imprisonment. Mr. Rob's ! 
22-year sentence was reduced to 17; 
years. 

Kim Dae Jung himself was sentenced ; 
to death for treason in 1980, just three . 
weeks after Mr. Chun assumed the pres- i 
idency. Mr. Kim’s life was saved tJartly -kj 
through pressure from the United States, * 
and he was released from prison in ! 
1982. 


WON: President Warns of Possible Layoffs 

Continued from Page 1 among nine companies and 20 banks 

i4T __. . whose ratings were cut by Moody’s. The 

Ifl had known about the depth of the government’s rating was reduced to Bal 
economic problem,” he told reporters, from Baa2. 

“I would not have t alke d about IMF The cut in ratings reflected the de- 
renogotiation ” He repeated, “We dining value of the South Korean cur- 
might go bankrupt.” rency, soaring interest rates and fast- 

Mr. Kim s tone revealed a sense of disappearing credit. While ratings for 
urgency rarely expressed here by top long-term deposits at almost all major- 

South Korean officials as they have ** — **■ ... . - J 

sought to put together the funds needed 
for banks and companies to pay off 
billions of dollars of debts. 

One influence on his outlook ap- 
peared to be that of a key American 
troubleshooter, David Upton, undersec- 
retary of the Treasury, who conferred 
with him after arriving in SeouL 
Mr. Kim, who campaigned on a pro- 
labor platform that opposed changes in 
laws that make layoffs difficult if not 
impossible, revealed his c hang e. of heart 


Lip ton and the new U.S. ambassador to 
Korea, Stephen Bos worth. 


South Korean banks dropped a notch or? 
two, their financial strength ranged from * 
E to C, with most around D-plus. - , r 

“This is the worst shape Korea has^ 
ever been in,” Baek Sang Hyun. an 
international finance official at the Fi- 
nance and Economy Ministry, told 
Bloomberg News. 

Several of Korea’s top companies, 
some of them key entities of major choe- T . 
hoi, or conglomerates, were among those., 
whose ratings were cut. They included 
Hyundai Motor Co.. LG-Caltex Oil" 
£°iP- Yukoug (Oil) Ltd., Korea Electric * 
Power, Korea Telecom, Hyundai Semi-, 
conductor America Inc., Samsung Elec- 1 


A spokesman for Mr. Kim quoted him tronics Co. and SK Telecom, 
assaying, I would let awnpanies lay .In Indonesia, Hyundai Motor officiate ; 

ees as a last resort — said the camranv Vm/4 r.‘> n ~.i<wi -,] anq 


said the company had canceled plan 

P^t there capable of building., 
100,000 vehicles a year, news services., 
moe reported. The move came after the ' 
Indonesian government accepted IMF. 


U.S. Envoy Says Tension With Malaysia Has Eased 


an alternative that he viewed as prefer- 
able to bankruptcy. 

Mr. Upton, meeting Kim at the 
headquarters of his political organiza- 
tion, stressed that the need for layoffs conditions that it lower _ tariffVn^Fr^;^ ' 


Reuters 

KUALA LUMPUR — Strains be- 
tween Malaysia and foe United States, 
which culminated in death threats 
against Americans, have eased as Kuala 
Lumpur has recognized its own role in 
the region's economic crisis, the U.S. 
ambassador said Monday. 

But the envoy, John Malott, said foe 
once-blossoming relations between the 
two countries were likely to settle into a 
holding pattern over the next year be- 
cause of Malaysia’s economic troubles 
and budget cuts. 

Mr. Malott said in an interview that 
tensions peaked last month when the 
U.S. Embassy said a telephone caller had 
threatened to kill four Americans in 
Malaysia. Malaysian media have quoted 
local officials as disputing the serious- 
ness of ihe threats. 

“So it really sort of built up, built up 
and got out of hand, culminating with foe 
death threats/' Mr. Malott said. 

He said tensions had since faded. “1 


would say yes, things are considerably 
different since then, for a number of 
reasons,” he said. 

The envoy cited a news conference he 
held last month when he appealed to 
leaders in both countries to pal an end to 
emotional rhetoric. “Calmer heads start- 
ed to prevail,” he said. 

He also said debate over a resolution 
in Malaysia's Parliament condemning a 
measure introduced in the U.S. Congress 
had ended up helping to ease the tension. 
The U.S. resolution, which has not been 
approved by Congress, demanded that 
Rime Minister Mahathir bin Mohamad 
either apologize for remarks he made 
about Jews or resign. 

Malaysia's lower house last month 
overwhelmingly approved a resolution 
condemning the U.S. measure. “The 
debate was very well done, very care- 
fully handled,” Mr. Malott said. He said 
Malaysian leaders had used foe discus- 
sion to point out the trade and investment 
links between the two countries. 


Mr. Malott said Malaysian leaders 
had begun to focus on domestic factors 
contributing to the economic downturn 
and realized the United Stares had noth- 
ing to gain from Malaysia’s troubles. 

“There is an increasing willingness to 
discuss some of foe domestic factors that 
also led to this financial crisis,” he 
said. 

The U.S. envoy said there also was a 
growing recognition that Southeast 
Asia’s crisis had hurt American compa- 
nies as welL 

“If you start with this idea of three 
months ago that America was foe mas- 
termind, that Americans were behind 
this conspiracy, it doesn’t make any 
sense,” he said. 

"If that is true, why do you see the 
U.S- stock market starting to go down? 
Why do you see U.S. companies having 
to cut back on their stock prices or hav- 
ing to cut back on staff? 

“My real concern was this sort of 
generalized, broad-brushed America- 


bashing that was going on there. 1 think 
that is behind os now and we can begin to 
get on with things.” 

' But foe U.S. envoy said Malaysia’s 


Dong Young, a party spokesman and 
member of the national assembly. 

. A major behind-the-scenes player in 
forming foe requirements set by the 
IMF, Mr. Upton told Mr. Kim that the 
country could not hold up wages 
employment at foe same time, Mr. 
Chung said. 

Mr. Kim also acknowledged that the 


produced cars. 

On the Seoul stock exchange, foe com- ' 
posite index slipped only 4.13 points, os. ■ 

Saturda y> closing at 
390.06. Another sign of foe deteriorating 
economy, though, was that the bencf • 

9Q« t ^y e %?«Po r ate bonds . 
tS? p ^ rcenL government . 




uie v.w>. wiiu* boiu maiaysia s mi. i vim aiSO aCKHOWiedged that dip has ' . 6«iHiunn», 

difficulties meant many aspects of the Bank of Korea had ustriup valuable hnLfcfrSl 5f mterest ' rate ceiling on 
bilateral relationship be pm on tiSdgn «c^e^S^.^Jp bondsto °2 5 “> « penrere. ; 

the won before letting it float last week. 


hold. 

“We are going into a sort of a holding 
pattern in many areas for the next year 
simply because of foe downturn in the 
economy here and also because of the 
decline in foe Malaysian government’s 
budget,” he said, referring to a gov- 
ernment plan to cut spending by 18 
percent next year. 

Mr. Malott said Malaysia had 


The won declined sharply Monday as 
Korean banks and companies sought 
more dollars to pay offdebts. At theendof 
the day, the dollar was worth 1,715 won, 
up from 1,660 won in the morning. 

Mr. Kim asked die United States to 
assist in supporting foe won — an 
parent bid for leans, something 
United States has been reluctant to ad- 


emerged as one of the fastest-growing- vance until South Korea fulfilled its 


export markets for U.S. companies. 

U.S. exports to Malaysia are forecast 
to rise to 59.5'biilion this year fro m $8.5 
billion in 1996, according to the U.S. 
Embassy. Malaysian exports to foe 
United States, meanwhile, are projected 
to dimb to $18.5 billion in 1997 from 
$17.8 billion. 


commitments under the IMF accord. 

Claiming that “80 percent of the 
Korean people support die IMF/’ Mr. 

Chung quoted Mr. Kim as saying that the 

‘ ‘new government will abide by the IMF. 
agreement 100 percent” 

One of Korea’s most respected or- 
ganizations, Pohang Iron & Steel Co., was 


Friendships 

Appears even- Saturday 
m The Inicrmarkrt Tn advertise 
contact Cucnola Bramiiwri 
in our London oiTicc: 

Tel: + 44 1 71 420 0327 

Fax: + 44 17? 420 0338 

or your nearest IHToffirr 
or representative. 






INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


PAGE 5 


EUROPE 


C 




Novice, 44, 
Dominates 
Round 1 in 
Lithuania 


Reuters 

VILNIUS, Lithuania — A 
lidcaJ newcomer, Artuntt 
ulauskas. triumphed Mon- 
day in the first round of pres- 
idential elections, but he was 
beaded for what is most likely 
to be a hard-fought rnnoff with 
Valdas Adamkus, a 71 -year- 
eld Lithuanian -American, 
i Final figures showed that 
Mr. Paulauskas, 44, had won 
45.35 percent of the vote. A 
71.54 percent turnout of the 
2.5 million qualified voters 
was recorded. 

! But because Mr. Paulau- 
skas received less than 50 per- 
cent of the votes, he will face 
Mr. Adamkus, another polit- 
ical novice, who came in 
second with 27.89 percent, in 
a runoff election on Jan. 4. 

■ Vytautas Landsbergis, 
too 

' led Lithuania to indepen- 
dence from the former Soviet 
Union in 1991, was third, 
with 15.85 percent. 

I Mr. Paulauskas said on 
Lithuanian television that the 
vote had drawn a “dividing 
Line’' between “politicians of 
the past'* and those “who are 
looking into the future and 
thinking of the future.’* 

The president's job is 
mainly ceremonial, but the 
holder of the office plays a 
key role after elections by 
nominating the candidate for 
prime minister. 

• The president is also ex- 
pected to be the country' '$ 
spokesman abroad and to 
help pursue its goals of enny 
to the European Union and 
the North Atlantic Treaty Or- 
ganization. 

Mr. Paulauskas. a former 
prosecutor general, had re- 
ceived the endorsement of the 
departing president, Algirdas 
Brazauskas. a popular figure 
who has urged Lithuanians to 
choose new leaders for the 
next century. 

: Mr. Adamkus stressed his 
experience of 40 years in the 
West and as a senior admin- 
istrator at the U.S. Environ- 
ment Protection Agency, 



BRIEFLY 


Tto BnfeanenfAgcaea Francc-Prac 

The defense ministers of Britain, Germany, Spain and Italy celebrating the signing Monday of the accord to put the 
Eurofighter into production. From left, George Robertson, Volker Ruebe, Eduardo Serra and Beniamino Andreatta. 

Countries Sign On to European Jet Fighter 


Ihr Associated Press 

BONN — Defense ministers from Bri- 
tain. Germany, Italy and Spain signed the 
long-aw aited Eurofightcr jet contract Mon- 
day. giving a boost to Europe’s defense 
industry. 

The $40 billion agreement, representing 
an attempt to compete with the defense 
giants of the United States, is expected to 
create tens of thousands of jobs. 

Production contracts now must be signed 
by the consortium of companies from the 
participating counfries, including Daimler- 
Benz Aerospace, the main German con- 


tractor. Germany and Britain hold 33 per- 
cent each of the contract, Italy holds 21 
percent, and Spain, 13 percent. 

The signing came more than a decade 
after the Eurofighter plan was conceived 
during the Cold War. It was delayed by cost- 
cutting negotiations with industry, reports 
of development problems and questions 
about whether the aircraft would be needed 
' at all after the collapse of communism. 

Germany was the most reluctant partner 
because of its tight budget, largely because 
of the high cost of unifying the former East 
Germany with the West in 1990. 


In October, Chancellor Helmut Kohl’s 
cabinet removed the last obstacle to the 
Eurofighter, approving plans for Germany 
to buy 180 of the jets for $71 million each. 
Britain, Italy and Spain have ordered about 
450 of the planes, which the consortium 
also plans to export. 

Defense Minister Volker Ruehe esti- 
mates that the Eurofighter contract will 
create 18 ,000 high-technology jobs for Ger- 
mans. Britain expects to gain as many as 
40,000 jobs at the peak of production 
through its main contractor, British 
Aerospace. 


Rioting Near Paris 
Injures 2 Policemen 

PARiS — - Two policemen were in- 
jured overnight in anew bout of rioting 
outside Paris by youths protesting the 
killing of a comrade by the police last 
week. French radio said Monday; 

A reporter for Radio Frahce-Info 
said he saw gasoline bombs showered 
on the police from the roofs of high- 
rise, low-income buildings at Dam- 
merie-les-Lys east of the capital. 

Riot troops shot hock volleys of 
tear gas grenades, many of which 
shattered apartment windows, forcing 
residents to flee into the streets, the 
reporters said. ■ 

The youths were protesting the 
shooting in the head of Abdelkader 
Bouziane, 16, who the police said 
raced through one of their roadblocks 
on Wednesday and tried to crash 
through another while driving without 
a license. 

There were no further reports of 
violence in the Lyon suburb of La 
Duchere, where a policeman killed a 
young man with the shotgun with 
which be was arrested on a street. The 
Lyon incidents involved Freachmen, 
not immigrants, but also took place in 
a slum neighborhood. ( Rearers j 

U.S. Envoy in Dublin 
Is Ecumenical ' 9 Too 

DUBLIN — The U.S. ambassador, 
Jean Kennedy Smith, has taken com- 
munion in Dublin’s oldest Protestant 
cathedral, following the lead of the 
president and ignoring criticism from 
Roman Catholic church leaders. 

“Religion, after all. is about bring- 
ing people together," Mrs. Smith told 
The Irish Times after she was seen at 


the service Sunday in Christ Church 
Cathedral. * ‘We all have our own way 
of going to God. ” 

Mrs. Smith, appointed in 1993 by 
President Bill Clinton. is the sister of 
former President John Kennedy. 

Her move followed the decision by 
Mary McAleese, who was inaugu- 
rated Nov. 11 as the country’s first 
president from Northern Jreland, to 
accept communion Dec. 7 in Christ 
Church Cathedral. 

Mrs- McAleese, a Catholic from 
the predominantly Protestant 
province, campaigned under the slo- 
gan “b uildiqg bridges" and said she 
wished to promote Christian unity in a 
divided land. 

The Catholic hierarchy criticized 
Mrs. McAleese and said it hoped she 
would not repeat the act. I AP J 

Safe Mir Docking 

■ MOSCOW — A supply ship 
docked smoothly with the Mir space 
station Monday, delivering nearly 2.5 
tons of supplies for its crew, including 
New Year's gifts. 

“The docking went without a hitch 
in the automatic mode," said Vera 
Medvedkova, a spokeswoman for 
mission control. 

Among the supplies were New 
Year’s presents sent from the families 
of the two cosmonauts and a U.S. 
astronaut, David Wolf. 

“You might as well have sent half a 
kilo of snow,” oue cosmonaut, Pavel 
Vinogradov, joked with ground con- 
troller. 

Mission control responded by sug- 
gesting that the crew begin decorating 
a plastic fir tree they have on board for 
Ouistmo5. 

The docking procedure has drawn 
attention since a crash June 25. when a 
cargo ship rammed the station during 
a practice manual docking. ( API 


Tnzz 

£?H 

§§ 




&--A 


k;-. 

ik 

I- 2 

£' Vi 

t- 


Yeltsin Decree: All Cured 

The Associated Press 

MOSCOW — Paying little heed to his doctors. President 
Boris Yeltsin said Monday he had fully recovered from a 
severe cold and was headed back to the Kremlin on Tuesday, 
Russian news agencies reported. 

“1 have no traces of illness." Mr. Yeltsin said at the start of 
a meeting with Prime Minister Viktor Chernomyrdin at the 
Barvilduf sanitarium. where he has been receiving treatment 
since Dec. 10 for an acute respiratory viral infection. 

“Tomorrow 1 will leave for the Kremlin and go back to 
work.' 1 the Interfax and Itar-Tass news agencies quoted him 
as saying. Mr. Yeltsin, who underwent heart bypass surgery in 
November 1996, is known as a restless patient. He said 
Thursday that he was leaving the sanitarium just west of 
Moscow', but the next day, his doctors said be should remain 
there for a further five to’seven days of recuperation. 


r\* 

:# .11 r 


The Associated Press 

' ROME — A judge rejected a prose - 
•cutor’s request Monday to indict Prime 
Minister Romano Prodi on abuse-of-office 
charges stemming from the sale of a food 
-company when he headed a giant state 
holding conglomerate. 

* Alter several hearings over the last few 
months. Judge Eduardo Landi ruled rhai 
’there was no evidence of wrongdoing in die 
spinoff four years ago of Cirio-Bertolli 
from the state holding company Istituto per 
la Ricoscruzione Indusrriale (IRM. 

Mr. Prodi was CRT's chairman at the time. 
The prosecutor had alleged that the coni- 
'pany w’as sold at an artificially low price. 

- Judge Landi also rejected’ a request to 
‘ indict Mr. Prodi on conflict-of-interest 
charges stemming from when he was a 






consultant to the international company 
Unilever before he headed IRL 

Giuseppa Gere mi a. the prosecutor, said 
sire would wait until she read the judge’s 
written decision to decide whether she 
would appeal. 

The judge also cleared five former mem- 
bers of IRl’s board of directors of abuse-of- 
office charges stemming from the Cirio- 
Bertolli sale. 

The prime minister, who did not attend 
any of the hearings, had denied any wrong- 
doing, and his lawyers said Monday’s rul- 
ing completely vindicated his actions. 

The exoneration was widely expected 
after a team of financial experts appointed 
by the judge concluded in October that they 
found no evidence of wrongdoing in the 
sale. 


Spain’s Fallen Jet-Set Banker 

Ex-Banesto Chief Who Shook System Is on Trial Again 


By Marlise Simons 

A, H ,\ sY-i:. ,• 


'MADRID — While moving on the fast 
track of modem Spain. Mario Conde gained a 
fortune, country homes, a yacht, a reputation 
awa daring financier and many friends in high 
places. 

' 'But Mr. Conde. 49. former chairman of 
what had been one of Spain’s biggest banks. 
Banesto. is now fighting to stay out of jail. 
Convicted of forgery an J niisapproprtauon of 
funds in March, he i> charged with fraud, 
forgery and embezzlement of millions of dol- 
lars of bank funds and could face 35 years in 
jail if convicted. 

-His trial, which opened in Madrid on Dec. 
I r will affect more than the nun u bo until 
recently was a star of Madrid society. It is a 
ca'mple.x case, involving 10 other defendants, 
and will bring some of Spain's leading polit- 
ical and business Figures to the witness 
stand. 

' Ir also promises to reveal much about the 
way modern Spain works, above all during 
the boom of the late 1980s. when money 
poured into the country, the economy soared 
and few questions were asked. 

"Mr. Conde. who denies the charges against 
him. swept to success during this boom. Bom 
in-a small town in northern Spain. Mr. Conde 
first earned a fortune in pharmaceuticals, then 
joined the board of Banesto. at the time 
Spain’s second-largest bank, and became its 
chairman in 1987. The arrival of this outsider 
with jet-set ways was a shock to Spam’s staid 
financial establishmenL 


Mr. Conde moved quickly, baying and 
selling companies through the bank's various 
holdings. Prosecutors said that through “fi- 
nancial engineering and creative account- 
ing." Mr. Conde and his associates siphoned 
oft millions of dollars via St. Vincent, 
Switzerland and Liechtenstein. Friends said 
Mr. Conde was also preparing for a political 
career by buying newspapers and television 
station* through Banesto and making sure he 
was photographed with national political 
leaders and King Juan Carlos 1. 

But Mr. Conde fell from grace in 1993 
when investigators found that S4 billion was 
missing from Banesto. The rescue of the bank 
cost the Spanish Central Bank $1.5 billion, 
and Bancsio has since been taken over by 
Banco Santander. 

The trial that has begun in Madrid is the 
most important, but not the first, case in- 
volving Mr. Conde. 

He already faces a six-year prison term for 
forgery and misappropriating $4.2 million 
after a separate trial in March. He has been 
released on SL3.3 million bail and for now 
continues to live on his estate outside Mad- 
rid. 

He is open about his quest for power and 
says he is the victim of revenge concocted by 
political enemies. 

"When I discovered that political power is 
controlled by the system, l tried to gain’ fi- 
nancial and media power,’ ’ he said in a recent 
interview published in El Mundo, a Madrid 
newspaper. 

And so. he said, he became “a political 
problem' ’ for the right and the left. 


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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


Hindu National Party 
In India Finds 2 Allies 

Inroads Raise Fears of Sectarian Tension 


By Kenneth J. Cooper 

Washingion Past Srnicc 

BHUBANESHWAR, India — The 
□ext election in India represents the 
Bharatiya Janata Party’s best chance to 
form a national government, raising 
fears among political opponents that a 
rise of the Hindu nationalist party conld 
provoke sectarian tensions. 

But the party acknowledges that it 
cannot come to power in New Delhi on 
its own. It has searched for allies in 
eastern and southern India, where its 
support is weak, and has already reached 
understandings with two parlies. 

These first steps toward building a 
coalition that could command a parlia- 
mentary majority in the election, likely in 
February, cheered leaders of the Bhar- 
atiya Janata Party who met here in the 
capital of eastern Orissa stale. The party 
attracted about 40,000 people to a rally 
Saturday, although it has no parliamen- 
tary representatives from the stare. 

The midterm election was called last 
month after the Congress (I) Party with- 
drew support from Prime Minister Inder 
Kumar Gujral's coalition of regional, 
centrist and Communist parties that came 
together last year as the United Front to 
protect India's constitutional mandate of 
secularism and deny a parliamentary ma- 
jority to the Bharatiya Janata Party. The 
party's minority government collapsed 
in May 1996 after two weeks in power. 

The Bharatiya Janata Party, founded 
in 1951 as the political wing of the 
largest Hindu nationalist organization, 
believes India is “one nation, one 
people, one culture.'' Critics say that 
philosophy is opposed to the consti- 
tutional mandate of secularism. Several 
of the party's positions, such as uni- 
formity in laws on marriage, divorce and 
inheritance for members of all religious 
groups, are regarded as anti-Muslim. 

Most analysts predict that the party 
will increase its numbers in the 545- 
member lower house of Parliament but 
not reach a majority. With about 160 
members, the party was the largest in the 
last Parliament Party organizers have 
been working to expand its base from 
upper-caste Hindus in northern India to 
other regions, castes and communities. 

The Bharatiya Janata Party has been 
in power in several northern and western 
Indian states without a noticeable in- 
crease in communal tensions — with one 
exception. It continues to be blamed for 
sectarian violence that spread across the 
country after Hindu militants demol- 
ished a 16th -century mosque in north era 



INTERNATIONAL 



Uttar Pradesh state in 1992. The parry 
had campaigned for the construction of a 
Hindu temple on the mosque's site in 
Ayodhya. the reputed birthplace of a 
Hindu god. Several party leaders, in- 
cluding its current president, L. K. Ad- 
vani, were present during the mosque’s 
demolition and face criminal charges. 

The party has muted its claims to the 
Ayodhya site and other positions that 
critics condemn as a threat to the Muslim 
minority. But fear that a Bharatiya 
Janata Party government in New Delhi 
would precipitate co mmunal violence is 
a potentially powerful issue for the 
party’s main opponents, the Congress 
Pany and the United Front coalition. 

“Their nationalism is based on di- 
vision,*’ said Madhavrao Scindia, a 
Congress leader. “We want to bring the 
nation together, not break it" 

To blunt the communalism charge, 
leaders of the Bharatiya Janata Party 
have promised to field Muslim can- 
didates in major states. 

Earlier this month, Mr. Advani also 
made what he called a peace offer to the 
Muslims: If they agreed to the con- 
struction of a Hindu temple at Ayodhya, 
the Bharatiya Janata Party would con- 
sider ceding claims to two other dis- 
puted mosque sites that Muslim rulers 
built in pre-colonial times. 

No Muslim leader embraced Mr. Ad- 
vani’s offer. JJ3. Pamaik, governor of 
Orissa state, dismissed the proposal as a 
threat to demolish two more mosques. 

Orissa is one of the Congress Party’s 
few remaining strongholds. It controls 
the state government and 17 of 21 par- 
liamentary seals. But Mr. Pamaik ac- 
knowledged that the Bharatiya Janata 
Party could win a few seats m Orissa, 
where its prospects have been boosted 
by an alliance with a breakaway faction 
of the Janata Dal, Mr. GujraTs left- 
leaning party. 

More troubling has been a new al- 
liance in southern Tamil Nadu state 
between the Bharatiya Janata Party and 
the regional party of Jayalalitha Ja- 
yaram, a former chief minister ousted in 
the last election and jailed briefly on 
corruption charges. 

In the past, the Bharatiya Janata Party 
has cast itself as an embodiment of clean 
politics. 

“For the last 40 years, we have 
played the game according to the rules, 
observed every norm in die book,” said 
Atal Bihari Vajpayee, the party's pro- 
spective prime minister. “But we have 
to fight with those who play foul. What 
are we supposed to do?” 



‘Subjugation 5 of Tibet ;• 

Jurists Fault China and Call for Referendum | 


j 

m ■*',* - *'/''*■ *4 : v .* * * t _ 


Mwtim D’SonzW Apn RnsAnc 

PROTEST IN BOMBAY — Indians protesting Monday outside the 
Saudi Consulate after it limited visas for Mecca pilgrimages and added a 
1,000-rupee fee for medical exams for potential workers in Saudi Arabia. 


CimpSelby OwS&ffPn*n DajWfcs 

GENEVA — The International 
Commission of Jurists, which works to 
defend the rule of law around the 
world, said Monday that Chinese-ruled 
Tibet was “under alien subjugation” 
and called for a United Nations-run 
referendum to decide its future status. 

The Geneva-based body said in a 
report that the autonomy Beijing 
claims is enjoyed by Tibetans was 
fictitious and that real power lay in 
Chinese hands. 

“It is. to maintain its alien and 
unpopular rule that China has sought 
to s up pr e ss Tibetan nationalist dissent 
and extin guish Tibetan culture,'’ said 

the commission's secretary -general, 
Adama Dieng, a lawyer from Sen- 
egal, in an introduction ro-the report 

“It is to colonize unwilling sub- 
jects that China has encouraged and 
■ facilitated the mass movement of eth- 
nic Chinese populations into Tibet, 
whore they dominate the region ’s pol- 
itics and security, as well as its econ- 
omy,” he wrote. 

Beijing claims that Tibet is part of 
China. It has rejected allegations of 
torture and religious repression. It has 
also blocked United Nations attempts 
to investigate human rights abuses. 

The 365-page report, entitled 


••Tibet: Human Rights and the Rule - 
of Law.” said there had been an ra- - 
eolation of repression since tlu. WK 
ginning of 1996 in the r» 
formerly a Buddhist, toms**., ; 
was absorbed into China in 1950. 

the commission said political »** . 
education had been stepped up m the. • 
Tibet’s remaining monasteries and 
torture and other forms of violence. . 

. were widely used. ' vi 

Documented methods of torture, , 
against Tibetans include beating*, f 
with chains, sticks with protruding: 
nails, iron bars and cattle prods..-. ; 
Women, particularly nuns, have been.. , 
raped, according to the study. , ; : [ 

The report asserted that Commu- ; 
nist Party leaders had declared “total ■ 
war” on the Dalai Lama, the Tibetan; 
spiritual leader who fled into exile ui- 
1959 after an abortive uprising, ; - 
.1 gain st Beijing’s rule. • > 

The commission, which has tracked u , ^ 
developments in Tibet closely since 
the late 1950s, said only a UN-su- . ' 
pervised referendum could establish 
exactly what the Tibetans wanted. 

Eligible to take pan should be all . 
Tibetans and other people resident in 
the region before 1 950 and their de- j . . 
scendants, as well as Tibetan refugees 
and their descendants. (Reuters, API 


For a Pariah, Saddam Sure Has a Lot of Friends 


New York Times Service 

BAGHDAD — Saddam Hussein 
may be an international pariah in some 
quarters, but an eclectic mix of visitors 
has made the pilgrimage to Baghdad in 
recent weeks to express solidarity with 
the Iraqi leader. 

The vociferous Russian nationalist 
Vladimir Zhirinovsky was here this 
month. A delegation from France’s Par- 
liament has paid its respects. And Louis 
Farrakhan, the leader of the Nation of 
Islam in the United States, delivered an 
impassioned appeal for an end to the 
United Nations trade sanctions that was 
greeted with shouts of “Down, down 
with America!” 

Travel to Baghdad, of course, is no 
easy matter. Since a United Nations ban 
on air flights to the country remains in 
effect, visitors face an arduous 16-hour 
drive from Jordan by bus or car. Most 
end up at A1 Rashid Hotel, where die 
lobby's marble floor is still decorated 
with a tiled mosaic likeness of farmer 
President George Bush emblazoned with 


the slogan “George Bush, cri minal ” 

One recent evening, the hotel pianist 
played “Strangers in the Night” as 
scowling Russians and robed Gulf, 
sportsmen carrying blindfolded hunting 
falcons rubbed shoulders with about 20 
members of Mr. Farrakhan’s entourage, 
some dressed in black leather coats, 
high-top sneakers and gold c hains . 

Mr. Bush's portrait presented an op- 
portunity some of the visitors found 
irresistible. Mr. Zhirinovsky, for ex- 
ample, stamped his feet on it. largely for 
the benefit of a CNN camera crew. - 

In the seven years since Iraq invaded 
Kuwait, the Western allies have largely 
maintained the diplomatic isolation of 
Baghdad. But there have been other, 
less-formal ties to the outside world. 

Indonesian, Gennan and Pakistani 
businessmen are here, exchanging busi- 
ness cards and looking forward to the 
day when the sanctions end. Several . 
delegations of Americans have come to . 
Iraq to deliver antibiotics, which remain 
in short supply. 


The visitors to Baghdad seem im- 
pervious to recent political develop- 
ments, which include President Sad- 
dam’s standoff with United Nations 
weapons inspectors. 

The official visits to Iraq are ex- 
haustively covered by the state-con- 
trolled media. Recently. Ahmed Jassem 
T han in a Qatari sheik who is head of his 
country’s royal guard, met with Mr. 
Saddam to convey what the Iraqi press 
later called “brotherly relations.” 

Television coverage of the handshake 
and meeting was all pictures, however, 
save for ah introductory voice-over ac- 
companied by classical music. 

Mr. Farrakhan’s reception was more 
elaborate. A group of Bedouin poets 
sang his praises before he began his 
Speech at the Rashid theater, a modern 
building in the heart of Baghdad. 

His ringing plea for solidarity among 
the world's Muslims was translated 
phrase by phrase into Arabic. Some 
women in the audience responded with 
the high-pitched cry traditionally used 






. ....... —*■ *»* 




to express happiness or celebration. 

Surrounded by cameras, Mr. fai 
rakhan told the crowd of Muslim tut • 
Christian religious leaders and jouma 
lists that .America was in neeu of 
“moral awakening.” 

As he demanded an end to the sane 
tions against Iraq, Mr. Farrakhan’ 
words were met with wild applause a™ ; 
shouts of "Got! is great ! ” 

The Gulf War disrupted the long 
standing alliance between Iraq and Rus 
sia, which supplied most of die weapon , 
used by the Iraqi Army, and Mn 
Zhirinovsky, the Russian nationalist'-' 
and vocal critic of his country's ties t® 
the West, suggested that it was ume tq 
reinvigomte the Baghdad -Moscow ret 
Iationship. a 

Mr. Zhirinovsky met with Mr. S&d{ 
dam and other senior officials. | 

At a news conference, he under* 
scored his solidarity with Iraqis, brush* 
ing aside u British journalist's question 
with the comment. “You speak the lanj 
guage of the aggressor.” ' J 

- ? ■ ll ' .IH 1 * » /; ■ " * ' ** 

Y ■ i re - ; J 




Ataxias . . 

BOGOTA 

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CAD . 

CANCUN. . . 
CARACAS . 
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CHICAGO . 
CIUDAD GUAYANA 
COZUMEL 
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LOS ANGELES.- 
LQSCABOS - 
MANAGUA 
MARACAIBO. 
MEDELLIN- ' 
MEXICO CITY - ■ 

MIAMI 
MONTREAL 
NEW ORLEANS . 1 
NEW YORK 
PANAMA CITY 
PUERTO VaLLAKEA 
RIO De JANEIRO 
RIO NEGRO*. . 
SAN FRANCISCO 
SANTO DOMINGO .. 
SAO firtULO 
TORONTO 
VALENCIA 
WASHINGTON. P.C. 


Netanyahu Broadens Land Claim 

West Bank Up to the Jordan River Belongs to Israel He Declares 


Bv IopI Greenherp Netanyahu said, referring to win his cabinet's approval foi 
- iLlStSisSSt the Yaricon River in Tel Aviv the withdrawal, which has cnl 
and the territory of the West countered stiff resistance fronj 

JERUSALEM — Firing Bank. “This is the land of our Jewish settlers and their sup* 
another salvo in a war of forefathers, and we claim it to porters in the governing coj 
words with the Palestinians, the same degree that the other aliiion. In his remarks Sunday; 
Prime Minister Benjamin side claims it.” Mr. Netanyahu said Israel as. 

Netanyahu has asserted that There was no immediate sened a “basic right” lo th$ 
Israel claims the West Bank Palestinian response. After West Bank and said his gov- 
up to the Jordan River and will Mr. Netanyahu on Friday emment would insist on ns 
insist on maintaining security called the West Bank “pan of taining West Bank area* that ij 
zones and settlements there in Israel proper,” Mr. Arafat de- considered vital io Israel's se- 
a-final peace agreement. scribed the statement as a curity and on Jewish settle! 

Speaking to an interaation- “flagrant violation” of ments in the area, saying thet 
al convention of the Likud signed agreements. He added were “not only our riahr to 
party Sunday night, Mr. Net- that Palestinians were deter- preserve but lo build." He alsiS 
anyahu returned to a theme mined to free the West Bank said Israel would- "preserve 
that already had drawn a sharp from “the claws of Israeli oc- the unity of Jerusalem” anJ 
response from the Palestinian cupation." The Palestinian that “greater Jerusalem wiH 
leader Yasser Arafat. Authority now controls the remain undivided " 

Th» rivn man heira dIo K ra<l „ \\r r» 1 _ • n « • " _ ■ 


The two men bave staked cities of the West Bank and Palestinians see East JeruJ 
out sharply opposing post- shares control of some sur- salem, annexed by Israel after 
tions in recent days as the rounding areas with Israel. it was captured from Jordan in 
Israeli cabmet has debated the The verbal jousting came the 1967 Arab-lsraeli war as 
size of a further troop with- amid U.S. efforts to secure an the capital of a future Pal* 
drawal m the West Bank un- Israeli pullback that would be estiniarv state in the West 
der self-rule agreements with significant enough to enable Bank and Gaza Strip Mi 
tfae^estuuans. the resumption of talks on a Arafat said Saturday. "We 

Wp.Hn nnt View thus \anri rwrmofuni ..Hi, ... . - 




While eve] 
the Gloha. 


. . . ... . r—. v “ •* ruiuai »aiu jjiuruav, we 

^ ,f ,l ? v r t,1 ! sla ?' permanent peace settlement. wUI not accept the Judaiza: 
52?*® ? f k °? f ° 1 * e President Bill Clinton’s ad- tion of Jerusalem or the cedS 
Jordan, this is not an ahen ministration has given Mr. mg of one era in of soil of holv 
land, a foreign land.” Mr. Netanyahu one more month to Je^alem.” * 


BRIEFLY 


t/,5-3 Israel and Turkey 
To Hold Naval Exercise 

JERUSALEM — Israel, Turkey and the 
United States will hold their first trilateral 
naval exercise in the Mediterranean off the 
Israeli coast next month, the Israeli Army 
said Monday. 

In the operation, called Reliant Mermaid, 
the three navies will practice search-and- 
rescue missions. 

The one-day seaborne portion of the ex- 
ercise, scheduled for Jan. 7, will involve 
five ships, several helicopters and search 
aircraft. (AP) 


a remote army base in mountains in south- 
ern Colombia, killing as many as 22 sol- 
diera and taking prisoner another seven, 
authorities said. 

At ail evening news conference. General 
Mano Hugo Galan. the army commander, 
d echoed to confirm the death toll but de- 
scribed the situation in the Paramo de Pa- 
tascoy region of southern Narino province 
“ very, grave, extremely critical.” 

He said 34 men, including officers and 
soldiers, had been in the base when it was 
overrun before dawn Sunday by about 400 
guerrillas of the Revolutionary Armed 
Forces of Colombia, the country's largest 
rebel army. (Reuters) 



30 Massacred in Algeria Fujimori Defuses Crisis 


ALGIERS — About 20 men armed with 
sharp-edged weapons crept into a wesiem 
Algerian village m the middle of the night, 
killed 30 people and kidnapped five vil- 
lagers, witnesses said Monday. 

Among those abducted in the Sunday 
attack on the hamlet of El Bordj, near the 
Moroccan bonder, were three young girls, 
witnesses said. 

Also Sunday, two bombs exploded in the 
region surrounding El Bordj, near the city 
of Tlemcen, wounding four people, hospital 
sources said. . (AP) 

Colombia Base Raided 

BOGOTA— Marxist guerrillas stormed 


LIMA — - A public dispute between 
President and his top general ap- 
peared to ease, as the nation’s military 

anese Embassy in April had produced fears 

Au^rl nsl | biliry in Pci ^ wh «re Pre^ 
idem AJlxrrto Fujimori has had the solid 

support of the odlta, since he JjK 
Mr : Fujimori ordered the generals b irk 

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PACE 8 


TUESDAY, DECEMBER 23, 1997 


EDITORIALS /OPINION 


Jieralb 


INTERNATIONAL 



tribune. 


PUBLISH Ep WITH TUB NEW YORK TIMES AND THE WASHINGTON POST 


Free Speech for Wei 


. Last month, China sent the demo- 
cracy advocate Wei Jingsheng into ex- 
ile. For peacefully ur gin g an' t»nH to 
dictatorship. Mr. Wei, 47, had spent 
almost two decades in jail and labor 
camps. But through a combination of 
eloquence, stubbornness and clear 
thinking he had become, from near- 
total isolation, a premier symbol of 
resistance, and China's Communist 
rulers decided to be rid of him. 

. A few weeks after his arrival in the 
United States, the Voice of America 
invited Mr. Wei to its Southwest 
Washington studio for an interview. 
The invitation seemed natural, almost ■ 
self-evident. China’s domestic press is 
totally controlled by the state; the 
Voice of America and its cousin. Radio 
Free Asia, provide two of veiy few 
avenues for Mr. Wei’s message to 
reach at least some people living in 
China. Opportunities such as giving 
Mr. Wei a chance to reach his own 
people, in fact, are why the Voice of 
America exists. 

Yet it was the American govern- 
ment, and not China's regime, which 
kept Mr. Wei from reaching as wide an 
audience as possible, and tried to block 
him even further. U.S. Ambassador to 
China James Sasser urged the White 
House to intervene when be learned of 
the proposed interview, and both 
Sandy Berger, President Bill Clinton's 
national security adviser, and Joseph 
Duffey. chief of the U.S. Information 
Agency, complied. They put the re- 
quest to broadcast executives. 

, In the end, a piece of the interview 
that was to be broadcast on Worldnet, a 
direct arm of U.S. propaganda, was 
blocked. Radio and television broad- 
casts on the Voice of America, which is 
by charter editorially independent, 
went forward despite administration 
objections. 

Since this episode was fust reported 
by The Washington Times and The 
Wall Street Journal, adminis tration of- 
ficials. in private and public, have 


offered varying explanations. One was 
that the White House wanted to block 
only Woridnet’s broadcast, and not the 
Voice of America’s; another, drat there 
was no request not to broadcast, only 
an effort to inform toe Voice of Amer- 
ica what toe consequences might be. 
Mr. Duffey. who acknowledges asking 
toe Voice not to proceed with its tele- 
vision broadcast, says he knew his 
request would be rejected. 

All administration officials insist 
that they acted with the best of in- 
tentions, and this is undoubtedly true. 
The administration felt that Mr. Clin- 
ton had given China’s rulers reason to 
believe that toe U.S. government 
would oot exploit Mr. Wei’s release for 
propaganda purposes. China under- 
standably views toe Voice of America 
as an organ of the U.S. government. If 
toe Voice broadcast Mr. Wei's inter- 
view into China, therefore, China's 
rulers would feel double-crossed and 
would be less likely to release other 
dissidents in toe future. 

This incident fits into a long-tunning 
debate over whether quiet, r espectful 
requests to dictators or noisy pressure 
on them better serve toe promotion of 
human rights. There is no single answer 
that can fit every situation. Bat it is 
worth noting that dissidents themselves 1 
— whether in the Soviet Union, China 
or elsewhere — almost always say, 
when given a chance to say anything, 
that forthright is better than mousy. 

Mr. Wei himself, in a meeting with 
Mr. Clinton, argued that only strong 
pressure can affect China’s regime. 
Reached after the Voice of .America 
incident, he said China's rulers might 
use the broadcast as a pretext not to 
release others, but it would never be toe 
real reason. He added that he would not 
have accepted exile in toe United States 
if he were to be precluded from speak- 
ing to the Chinese people — a condition 
he remains confident that the United 
States will never impose, he said. 

— THE WASHINGTON POST. 


Mideast Glimmerings 


' Although the effort has not yet 
yielded tangible agreements, the Clin- 
ton administration has reawakened the 
quest for Mideast peace. Through re- 
peated meetings with Israel’s prime 
minister, Benjamin Netanyahu, and 
the Palestinian leader. Yasser Arafat, 
and useful public exhortations. Sec- 
retary of State Madeleine Albright has 
nudged the parties toward constructive 
action. They must now act on that 
impulse and end the verbal jousting 
that erupted over the weekend about 
historic claims to toe West Bank. 

The Israeli cabinet has agreed, in 
principle, to new territorial withdrawals 
in the West Bank, and Mr. Arafat seems 
ready to endorse American-sponsored 
security arrangements meant to stop 
politically inspired releases of Pales- 
tinians held for terrorist violence. New 
Israeli withdrawals and tighter super- 
vision of detained terrorists are nec- 
essary steps for progress. President Bill 
Clinton will try to dose both deals when 
he meets separately with Mr. Netan- 
yahu and Mr. Arafat next month. 

The Clinton administration has been 
more consistently supportive of Israel 
than its recent predecessors were. But 
Washington now correctly judges that 


it must be more active in promoting a 
fair and secure peace. Mr. Netanyahu 
tends to get bogged down in toe co- 
alition arithmetic of his fractious cab- 
inet, often at the cost of diplomatic 
progress. Mr. Arafat has damaged the 
peace effort by vacillating on security 
despite promises to com tot terrorism. 
An American role in prisoner releases 
would reassure Israel to at Mr. Arafat 
would not free terrorists to pressure 
Israel or appease Hamas. 


drawals is also crucial. The essence of 
the Oslo peace bargain remains land 
for peace, or, as Mr. Netanyahu prefers 
to phrase it, land for security. The 
Palestinians fully or partly control 
about 27 percent of toe West Bank. 
Israel now needs to expand that to 
between 40 and 50 percent. That would 
reassure Palestinians that if they honor 
their security responsibilities, they can 
expect to gain authority over most of 
toe West Bank and Gaza Strip. 

The visible U.S. pressure is now dir- 
ected at Mr. Netanyahu to get his cabinet 
in line. But Mr. Arafat must deliver on 
security as well, if Washington’s efforts 
are to have any hope of success. 

— THE NEW YORK TIMES. 


Other Comment 


A Rebuff for Turkey 

If the European Union summit [on 
Dec..!.* and. I4J ever, comes to be 
regarded as historic, it is likely to be 
because of a historic mistake. Unless 
matters are put right, historians may 
look back to the Luxembourg meeting 
and judge it to be the occasion when 
Europe needlessly offended Turkey, 
thus increasing that country's sense of 
exclusion, its reluctance to reform, its 
awkwardness over Cvprus and NATO, 
and perhaps its readiness to embrace 
either Islamic or quasi-military rule. 
Not bad for two days’ work. 

Turkey may well seem unsuitable as 
a member of the EU. Yet toe Turks do 
not expect instant admission. They ex- 
pect. and deserve, only treatment as 
favorable as that given to the second 
group of applicants, which includes 
Bulgaria. Slovakia and other less than 
perfect democracies. The benefits for 
Turkey would be considerable. In rime 
rhere would be economic dividends, 
but long before that the mere expres- 
sion of willingness to treat the ap- 
plication seriously would have helped 


all those Turks who are trying to pro- 
mote democracy, to settle toe Kurdish 
problem and to reduce the influence of 
the generals. 

Since the West needs a friendly, 
cooperative partner at toe eastern end 
of toe Mediterranean as much as ever 
— Iraq is vile. Iran uncertain. Central 
Asia and toe Caucasus hardly placid — 
the Luxembourg rebuff seems aston- 
ishingly ill judged. Amends should be 
made as quickly as possible. 

— The Economist (London). 

Turkey once again finds itself in the 
role of a rejected suitor. The Turks are 
understandably angry, and Brussels 
bears a large part of the blame for toe 
new ice age in Tiukish-EU relations. 
Once again the Europeans have all too 
obviously caved in to Greek pressure. 
For yeans Athens has been using its own 
EU membership as leverage in its quar- 
rel with Turkey over the Aegean and 
Cyprus, issues of secondary importance 
to toe rest of Europe, and evidently can 
still succeed in getting its demands ac- 
cepted as general European policy. 

— Neue Zurcher Zeiiung (Zurich). 


gk iVTERMTIIIMI. . 4 

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-7 . . 

. 7. -■**-•-**■. - \ - ■ 


N EW YORK— “Le Livre Noir du 
Communistne” (“The Black 
Bode of Communism”),' published in 
Paris last roonth, has aroused contro- 
versy. Edited by Stfohane Courtois, a 
respected historian of French commun- 
ism, it is an 800-page compendium of 
the crimes of Communist regimes 
worldwide, recorded and analyzed in 
ghastly deoil by a team of scholars. 

The facts and figures, some of them 
well known, others newly confirmed in 
hitherto inaccessible archives, are ir- 
refutable. The myth of the well-in- 
tentioned founders — the good czar 
Lenin betrayed by his evil heirs — has 
been laid to rest for good 
No one will any longer be able to 
claim -ignorance or ancotainty about 

The, cr iminal nature of m mmimum, and 

those who had begun to forget will be 
forced to remember anew. 

The book has been, angrily debated 
in Europe, with some of its contributors 
regretting their participation. 

This is because Mr. Courtois, in his 
introduction, claims that we can no 
longer insist on the conventional dis- 
tinction between communism and 
Nazism, which sets Hitler's state apart 
as a singularly terrible regime to which 
nothing can compare. .Those very fea- 
tures of Nazism that we find most re- 
pellent have now been proved endemic 
to communism from its inception. 

The time has come, he says, to ac- 
knowledge that mass crimes, systematic 
crimes, crimes against humanity marked 
both systems in equal measure. "Recent 
emphasis oo the singularity of tire gen- 
ocide of the Jews, by concentrating at- 
tention on an exceptional atrocity, blurs 
our perception of affaire of the same 
order in the Communist wodd.’’ 

Mr. Courtois has a powerful case. In 
the co urs e of a few decades. Com- 
munist regimes killed tens of millions 


By Tony Judt 


of people. It is now estimated that in the 
Soviet Union about 20 mjffioq deaths, 
in .Communist China pegftaps.65 mil- 
lion and in Cambodia, North Korea, 
Vietnam and Eastern Europe a farther 6 
million can .be directly. attnbeied to the 
actions of Communist governments. 

These mass murders were not toe 
accidental byproduct of misguided 
policies but toe outcome of willful, 
sometimes geoocidal calculation. 

By March 1918, Learn?* Bolshevik 
regime, then just five months old, had 
knowingly killed more of its political 
opponents than czarist Russia had in 
the wholepreceding century. - 
- In 1932 and. 1933 the famine de- 
liberately engineered by Statin in the. 
Ukraine destroyed about 6 million 
men, women and children. 

Categories of people, real or imag- 
ined (“Cossacks,” ‘Tmlaks ” “bour- 
geois,” "reactionaries”), were exter- 
minated just fca being who they were. 

Concentration camps, forced labor 
and tenor were elevated to a system of 
government. Communism transposed 
the language and conditions of war time 
onto an ideological civil “front,” be- 
queathing to modem radical politics a 
paramilitary language of in te rm m ahlft 
“conflict” A permanent civil war of 
party-state versus society began. - 

Its goal was an atomized oneness — 
different from that of Nazism only in its 
invocation of “class” instead of 
“race” and in its distinctive euphem- 
isms. Nazis applied “special treat- 
ment” to tire useless people, they 
murdered. Communists “liquidated” 
those whom history, in their eyes, had 
already condemned. 

Mass murder was not an unintended 
consequence but part of tire project 


abdno* 

merotK; ^ii^ess«^ *• Mr. , Courtois- 
write^^vCdirfit^ifiat 
the ooteet ^basic foamfeJ 

Gorsouifttkri - stilted e ; [Tasted 


r* 



affecting about - 1 00, fafflioa- =pep$6; 


W HY £o sornany, mctoifongsome.. 

ofh^.Owatois’sfaiows^wiafs, 
recoil .front his cdacfaswns? -fe -pah 
becau$e : we ate still heirs to the vic- 
torious. alliance with toe Comnamists 
thar defeated Holer. Aixd in part be- 
cause somany well-mtcntiofiedpeqple 
beyondtijereachqfcbmnuHusmooily 
needed to bdievein it ami defend iL 
. I well remember sitting in fee gradu- 
ate lounge of Cambridge University in 
1969 while a tenured member of the 
economics faculty assured us that the. 
Chinese Cultural Revolution was toe 
last best hope for humankind.- 
Communism was applied in the 
“East” and justified in the “West,” 
whereas Nazism was a Western ab- 
omination whose evils were experi- 
enced closer to-home (and one that left 
behind A fuller, more accessible visual 
record of ks achievements). 

•• It is thus difficult for the left-liberal 
intelligentsia of the West, and not just 
in Paris. to let go of its memories and 
illusions, to reconcile itself to having 
been no wiser or better than fascism’s 
many foreign admirers in the 1930s. 

For tins is toe most enduring tempta- 
tion of alt — 7 to distinguish communism 
from other political evils by virtue of its 
self-presentation as a path, however 
crowed, to h uman liberation. . 

Those are bad reasons for . denying 
Mr. Courtois his conclusion. But there 
are better ones. 


The mam weapon -of-worldwide 
Communis t mass murder, statistically 
'speaking , was state-inducted famine.. Is 
L miS^alogousTO industrial-scale racial 

genocide? 1 

Iff.' It * ‘communism” that links and; 
explains the deeds .of Lenin, Stalin, 
Mao; Kim D Sung, Pol Pot and acolytes 
’ in Af ghanistan , Ethiopia; Angola, Po- 
' land, and elsewhere? In name, yes, but 
• in. practice the Cambodian massacres, 
to take just one case, have more in 
common with die honors of Rwanda 
and Bosnia than with Stalin’s secretive, 
paranoid, targeted purges. 

The tale of human ' cruelty in our 



‘"left” or “right ’’ And while “kulak’ 
or “bourgeois ’ ’ are arbitrary categor- 
ies thar authorize those wielding them 
to kill and torture anyone they tike, 
their very arbitrariness also allows for 
redefinition, “re-education” or clem- 
ency in a way that was not open to 
people defined by rigorous criteria of 
inherited face and killed accordingly- 

From the point of view of the exiled, 
hum iliated, tortured or murdered vic- 
tims, of course, it’s all the same. And in 
The sorry story of our century, com- 
munism' and Nazism are, and always 
were, morally indistinguishable. 

That lesson took too long to leant, 
and it justifies a complete recasting and 
rewriting of the history of our times. 

But we must keep in view a crucial 
analy tical contrast: There is a difference 
between regimes that exterminate 
people in the inhuman pursuit of an 
arbitrary objective and those whose ob- 
jective is extermination itself. 

The writer is director of the Re- 
marque Institute' at ' New York Uni- 
versity. Hi contributed this comment to 
The New York Times. 


For Asians, Too, Effective Economics Is Humanitarian 


W ASHINGTON — In the 
contentious wodd of eco- 
nomists and foreign aid experts, 

mmflriiing nmartrahlg is lairing 

place: agreement On many key 
questions there are now answers, 
based on real data. 

It is not yet clear that this 
emerging consensus is inform- 
ing policy as much as it could — 
for example, in foe international 
rescue of Asian nations in dis- 
tress. There the risk is that poor 
people will bear the brunt of the 
pain, in defiance not only of 
humanitarian logic but of the 
new economic 


By Fred Hiatt 


■Skepticism of foreign aid is 


World governments. On the left, 
critics alleged that rich nations 
were foisting oil developing 
countries pro-growth economic 
policies that enriched elites 
while actually ha rming toe poor 
and increasing inequality. 

These debates raged with re- 
ligious intensity. Buithe past 15 
years have seen an accumula- 
tion of research that allows the 
debate to move beyond faith 
and ideology. The result, Ms. 
Gwin and her associate, Joan 
M. Nelson, recently wrote, is 
that “the basis exists today for a 


money, accompanied by end- 
less hectoring,, lecturing and 
setting of conditions, have had, 
on average, zero impact. 

That might end the discus- 
sion right there, except that be- 
hind tne average Mr. Collier 
funis something else. Given to 
governments pursuing bad 
policies, aid doesn’t work, and 
may even make thing s worse. 
But where governments are do- 
ing the right things, the right 
kind of aid actually can make a 
major, positive contribution. 
Give advice to bad govem- 


to flic contrary — lead, on av- 
erage, to increased inequality. 

But - — and here the left 
c himes in — p rograms aime d at 

poverty alleviation are crucial to : 
economic growth. Not only that, 
but countries with high rates of 
inequality seem less likely to 
grow fast and less likely to share 
evenly the fruits of such growth 
as they do enjoy. 

. . You need both, : in other 
words: sound : economic 

policies, including openness to 
trade and the free market, and 
sound social policies, espe-' 
dally free .primary education 
and basic health due. -You need 


launch positive reforms biR 
have trouble sticking to them?! 

S imilarl y, helping poof 
people makes economic sense, 
but bow much can you givi 
before risking economic imbnli 
ance and hurting toe poor in the 


long run? 
' Nc 


hy ii/Mi/ » familiar etnry Ac hrrmA-r- mntpntiK nn rUvpIop. m-ntg, Mr CoUifl: «»y<. thfcsrxrial jinlirifrK for mnnomiff 


Catherine Gwin, senior vice 
president* of 'ffie r nongovern- 
mental Overseas Development 
Council, explains, it s tems in 
part from the early 1 980s, when 
debt crises in Latin America 
and persistent poverty in Africa 
led many to conclude that aid 
simply didn’t work. 

Critics on the right faulted 
foreign aid for sustaining 
bloated bureaucracies, both in 
UN organizations and in Third 


meat strategies than at any time 
'mmany decades.”' " 

What dp we now know? For 
one thine that foreign a id , on 
average, has. not worked. 

As the Oxford University 
economist Paul Collier recently 
summarized current research, 
foreign aid on average has not 
raised growth rates, has not 
lessened poverty and has not 
brought about improved eco- 
nomic policies: Huge sums of 


give money only to the good. 

There i^mofa.' ThouPL .Thfe - 
long-nmmng, left-versus-right 
debate about growth versus 
poverty reduction is over, too. It 
turns out, reports the World 
Bank economist Martin Raval- 
lioo, that economic growth is 
essential to poverty alleviation, 
as the right has allied. Growth 
almost always helps poor 
people, and it does not — despite 
years of economists’ orthodoxy 


reasons, just as you need the 
econSrinc ppScfcS for their 
good social effects. 

These findings will not end all 
debate. In some ways, as Ms. 
Gwin points out, they simply 
lead to new questions. If it makes 
sense to help only toe good gov- 
ernments, what moral obligation 
do we have to poor people suf- 
fering under bad ones? 

What about countries that fall 
somewhere in between or that 


It’s Time to Think Straight About Saddam 


N ICOSIA — Past equivoc- 
ation weakens today's U.S. 
efforts, through toe United Na- 
tions, to find and destroy Iraq’s 
presumed terror weapons. 

Saddam’s foolhardy inva- 
sion of Kuwait enabled Pres- 
ident George Bush and Secre- 
tary of State James Baker to 
assemble and lead a crushingly 
powerful military coalition to 
eject Saddam from Kuwait and 
remove toe threat he posed to 
Western oil resources. 

Today, of those coalition al- 
lies, only Britain seems willing 
to join in sending military tnight 
against Saddam again, if the UN 
arms inspectors are blocked. 

Before toe Russian-brokered 
return of toe inspectors on Nov. 
21, there was a hint of desper- 
ation in toe way Secretary of 
State Madeleine Albright and 
her aides vainly tried to cobble 
toe old coalition back together. 
Even Saudi Arabia and Kuwait 
were unwilling to join U.S. mil- 
itary action, short of a direct mil- 
itary provocation by Saddam. 

Past unwillingness to ac- 
knowledge the Saddam threat 
for what it is has seriously 
weakened toe U.S. political pos- 
ture in tbe region. Traditional 
foes of Iraq such as Syria, which 
opposed it in the Kuwait war, are 
drawing closer to Baghdad. With 
the stalling of the Arab-Israel 
peace process, they fear a future 
war with Israel in which restored 
Iraqi power could be crucial. 

Jordan, squeezed b etwee n 
Saddam and a desire to p reserve 
die battered 1994 peace treaty 
with Israel, joins die chorus de- 
manding an easing of the UN 
embargoes on Iraq. 

Weary Iraqi foes of Saddam 
appear to have suspended bope 
or establishing a UJ>.-r 
nized Iraqi g overnment in < 
TUrfeish military occupation 
of areas of northern Iraq, m pur- 
suit of diss i dent Kurds, indir- 
ectly farther strengthens Sad- 
dam's power in the north, 
because it strengthens his tem- 
porary Kurdish allies and weak- 
ens his Kurdish adversaries. 

Added to all this is a fun- 
damental perception in the 
Middle East that Washington has 


By John K. Cooley 


never real! 

removing 

Evidence 


f been serious about 
taddam from power, 
supports this, and 
found it 


much of it is found in the world 
of oil and the politics of oiL . 

U.S. concerns about safe- 
guarding Western oil supplies 
were uppermost when the allied 
coalition went to war against 
Saddam in 1991 — just as they 
must be today, along with fear of 
his weapons. But in 1991 , not all 
the sins were on Saddam’s side. 

Many oilmen in the West un- 
derstood that Kuwait and others 
kept oil prices down by over- 
which was one of 
grievances. 

Also, there is evidence that 
Kuwait was engaged in slant- 
drilling of Iraqi oU. under the 
border. As one ofl executive put 
it, slant-drilling is enough to get 
you shot in Texas or Oklahoma. 

True, the Kuwait-Iraq border 
was poorly demarcated. 

A few days before the August 
1990 Iraqi invasion, the Bush 
administration, according to 
Iraqi transcripts, had its ambas- 
sador in Baghdad, April Glaspie, 
tell Saddam that the United 
States took “no position'' on 
those boundaries. CYbe State De- 
partment, without contesting 
that version of the ambassador’s 
instructions, said that she had 
cauti o ned Saddam against rash 
action against Kuwait.) 

U.S. waffling with Saddam 
goes back much further. After 
attacking his unpopular neigbor 
and adversary Iran in 1980, 
which was then considered a 
greater threat to Western in- 
terests than Iraq, Saddam ap- 
parently believed that he had 
the hidden support of the Rea- 
gan and Bush administrations 
— until in the spring of 1990 he 
threatened Israel openly with 
attack by chemical weapons. 

The United States gave Sad- 
dam critical military intelli- 
gence on ban, generous loan 
guarantees, and sales of dual-use 
equipment such as helicopters. It 
encouraged or turned a bund eye 
to assistance from American 
private industry and Europe to 
Iraq’s conventional and nuclear 


armament efforts, such as 
France’s rental to Iraq of Super 
Etendard fighter-bombers to at- 
tack Iranian oil targets. 

General Norman Schwarz- 
kopf, supreme allied command- 
er in toe Kuwait war, has con- 
firmed that President Bush 
ordered him to end that war 
once Knwait was freed, rather 
than follow through to Baghdad 
to destroy his regime. 

Many in the Mideast see Sad- 
dam as the devil the United 
States loves to hate, whom suc- 
cessive U.S. administrations 
have preferred to keep in power 
in a weakened condition. 

Every time toe United States 
wounds him with a cruise mis- 
sile attack or other minor mil- 
itary punishment, his domestic 
image grows and so does his 
neighbors’ fear, which is chan- 
ging into a kind of respect. 

The UN embargoes help to 
satisfy these neighbors by keep- 
ing all but the small human- 
itarian Iraqi oil exports of the 
UN oil-for-food program (plus 
some oil smuggled to neigh- 
bors) off toe world marker. 
(This month Saddam suspended 
toe oil-for-food exports, insist- 
ing that toe United Nations 
must improve distribution of 
food and medicine.) 

This serves the main ally of 
the United States, Saudi Arabia, 
by giving the Saudis what was, 
before foe war andthe emargoes. 
the Iraqi market stone of more 
than 3 million barrels a day. 

As long as Saddam or an- 
other Iraqi regime chooses to 
conceal evidence of terror 
weapons, no inspection is ever 
likely to discover all of it. The 
know-how, in any case, r emains 
locked in the minds of Iraqi 
scientists and technicians and 
any foreign helpers. 

.Today there seem to be two 
possibilities, both unpleasant 

A'- first would be for toe 
United States and Britain to ac- 
quiesce in the Russian-French- 
Chinese policy in toe Security 
CounciL Most Muslim allies of 
the United States, vexed by 
their perception that it does 


nothing to push Israel into a 
peace settlement with Syria or 
the Palestinians, support that 
policy. It amounts to tacit ac- 
ceptance of Saddam’s secret 
rearmament. 

U.S. or British advocates of 
this, if there are any, might ar- 
gue that toe' United States and 
Britain, with or without Israel, 
could undertake to destroy Sad- 
dam’s arsenals and computer 
files through covert action. 

The second possibility would 
be an all-out military offensive 
to forcibly remove Saddam and 
his thuggish family once and for 
all, and with them his despotic 
regime, from power. 

No reasonable person can 
envy leaders who must make 
such hard choices. But is more 
waffling an option? 

The writer, an . American 
journalist and author covering 
the Middle East, contributed 
this comment td the Interna- 
tional Herald Tribune. 


Jo countries have answered 
these questions better, or morf 
. dearly shown the positive conj- 
nections berween economic 
growth and alleviating poverty, 
than ■ those now "suffering 
through financial crises: South 
Korea, Thailand, Indonesia 1 . 
South Korea's economy , grew 
tenfold in three decides, ajrnos? 

f ud'JthE 

Southeast Asian nations, starting’ 
Taler 1 . ' have id5De”S>rqpafable ; 
progress. All invested in primary! 
education and health care. 

Now, because of toe collapse; 
of their banking systems and 
other structural problems, they 
have had to turn to toe Inter-, 
national Monetary Fund for res-.' 
cue, and toe IMF has committed 
tens of billions of dollars. This 
money will help protect foreign! 
banks and wealthy investors! 
who made unwise loans, while 
millions of poor people already! 
are being thrown out of work. . 

In TTiailandand Indonesia, as' 
an Oxfam International report 
pointed out this month, when; 
city-dwellers lose their jobs.! 
countless more villagers, who: 
depended on those urban; 
paychecks, may go hungry. j 
What is the answer? Not a 1 
populist railing against toe- 
IMF; if it didn’t apply tough] 
medicine, these nations' crises' 
would worsen, and poor people- 
certainly would suffer the most. I 
But toe international commu-j 
nity’s emergency help should] 
reinforce what these nations* 
already have learned about the* 
importance of helping toe poor.J 
not work against it. j 

The IMF is right to insist onl 
stricter standards of banking su-| 
pervisiem, but it should insist! 
just as emphatically on labor! 
rights in Indonesia, job promo-’ 
lion in Thailand, unemploy-t 
mem insurance in South Korea! 
and education everywhere.* 
These are not jost issues of com-; 
passion, we now know. They! 
are essential to economic re-t 
covery and future growth. I 

The Washington Post. • 


IN OURPAGES: 100, 75 AND 50 YEARS AGO : 
1897: U.S. in China 


WASHINGTON— TheUnited 
States has no interest in foe ter- 
ritorial extension now going on 
in China, and will not make a 
landing ax any of foe coast ports 
of China as Germany and Rus- 
sia have done. The only concern 
of the United States is to guard 
established American interests. 
At each of foe American treaty 
ports in China there are Amer- 
ican settlements and reserva- 
tions, within which Americans 
may own property and try their 
civil and criminal cases before 
tbeif own court Some of foe 
-settlements are extensive, like 
that of Shanghai, occupying a 
wide sweep of land. 

1922: Indians 9 Due 

WASHINGTON — The Osage 
Indians are to have a real Christ- 
mas this year,' as foe United 
States Government has begun to 
hand out to 2,229 allottees of foe 


nation checks of $3,400 each. > 
This is the largest quarterly pay- ', 
ment ever made and aggregates- 
$7,500,000 from oil royalties oh i 
toe Indians’ lands. 

1947: Negeb Pioneers ; 

JERUSALEM — The Jewish 
Agency for Palestine rejected a. 
recommendation of the British; 
mandate government that Jews: 
abandon as indefensible their, 
twenty pioneer settlements iii 
foe Negeb, Palestine's big 
southern desert. The Negeb, 
forms more than half of foe pro- 
posed Jewish state and has a 
population of about 2,000 Jews> 
and 60,000 Arabs. The Negeb' 
settlements have been attacked) 
at least five times during foe; 
Arab-Jewish fighting of the last? 
three -weeks. Because of their! 
exposed position, and because: 
they represent the initial Jewish! 
move into foe desert, they are : 
occupied only by adults, most! 
of them men. 



'/ ... 


< 


mat 


, it.- 

*'»: ■ 
- jrr 

• s * 

5 \):- 
i fe 


7 H 


m 






PAGE 9 



Public and Private Santa: 
Both Make Life Merrier 


By E. J, Dionne Jr. 


W ASHINGTON — During 
the 1992 presidential cam- 
paign, Paul Tsongas always won 
cheers when he declared in his flat 
New England tones: *Tm not 
Santa Claus.” Mr. Tsongas, pre- 
pared to cat spending and raise 
taxes, was making the point that 
too many politicians promise too 
much to too many. 

■ One could only respect Mr. 
Tsongas 's consistency and his 
^readiness to take what seemed to be 
unpopular positions. His stands 
had more appeal than many ex- 
pected, and be won a following for 
his stem strictures against deficits. 
. Still, for all the years since. I've 
wondered about his premise. 
What’s wrong with Santa Claus? 

' Fm not thinking here of the 
family issue — should parents sell 
kids on a character who does not 
exist? On that one 1 have changed 
my min d several times. I was once 
of the belief that there was no sense 
in staking your parental credibility 
on a round guy in a red suit whose 
exploits are an invention. 

■ I’ve grown softer on the 
bearded one over the years, partly 
because I suspect kids know 
what’s going on and love the story 
anyway, and partly because I like 
the idea of Santa. 

; But if the idea of Santa is so 
attractive, why did everyone 
cheer Mr. Tsongas’s line? The 
obvious answer is that he was 
talking about public money. He 
.was saying he would not throw 
voters' cash around to get people 
to elect him as St. Nick. 

‘ It was a fair point, and it goes to 
• _ ___ the general problem of the public 
provision: If the government 
plays Santa, why should anyone 
, » ; do it on his or her own? 

«. I ; s £ [ j j My son raised a version of this 
“ question when both his school and 
our church encouraged people to 
give Christmas gifts to a poor 
family. My son was eager to do it 
but wanted to know: Why was this 
necessary since Santa takes care 
of all the kids in the world? I 
mumbled something about Santa 
needing all the help he could gel. 

So. yes. it is dangerous to del- 
egate all acts of generosity and 
caring. If government as Santa is 
presumed to do everything, the 
impulse for individual acts of 
kindness can be deadened. 

The problem is that few of us 
play Santa often enough, or gen- 
erously enough. Many of Amer- 


ica’s most generous social pro- 
grams were launched during the 
Depression because we realized 
thaiprivate charity could not cov- 
er die needs of all who found ■ 
themselves jobless and penniless. 
FDR wasn’t Santa, but tor a while 
he was just as popular. 

But wouldn't we all step in if 
government didn’t do it? Aren’t 
the private resources there? They 
arenoL 

In an i m port a nt article in Com- 
mentary magazine last month 
( ‘ ‘What Good Is Government?’ ’), 
William Bennett and John Diluiio 
made the crucial calculations: “If 
all of America's grant-making 
private foundations gave away aD 
of their income and all of their 
assets, they could cover only a 
year’s worth of current govern- 
ment expenditures on social wel- 
fare.’’ What would happen the 
next year? 

They point to a study by Prince- 
ton’s Julian Walpole of 125,000 
charities each with receipts of 
$25,000 a year or more. Among 
them, they raise and spead $350 
billion annuall y That sounds Kira 
a lot until you realize that this is 
only about one-seventh of what is 
spent each year by federal, state 
and local governments. 

Mr. Bennett and Mr. DOiilio, 
hardly enthusiasts of the old wel- 
fare state, conclude: “It is un- 
likely that Americans will donate 
much more than their present 2 
percent of annual household in- 
come, or that corporate giving 
will take up any significant pro- 
portion of the slack in the event of 
future government reductions. ’’ 

There is also a difference 
between social insurance and 
charity. 

The retired and the temporarily 
unemployed, for example, should 
not have to depend on hand- 
outs. They have earned social 
protection. 

At our best, we play Santa on 
our own and we play together. The 
money government gives the sick 
and the elderly and the poor does 
not come from some abstract en- 
tity out there called “the state.” It 
comes from us. We pay for it and. 
when push comes to shove, we 
usually vote for it 

All things considered, it’s good 
that we do. It makes life a little 
merrier, and if done right it breeds 
peace and goodwill. 

Washington Post Writers Croup. 


OPINION/LETTERS 



LETTERS TO THE EDITOR 


Korea and the IMF 

Regarding “ South Korea Isn’t 
Bankrupt, and Outsiders Had a 
Role" (Opinion, Dec. 17) by 
Philip Bowring: 

Mr. Bowring’s article makes an 
important point, namely that the 
Korean economy is fundamentally 
sound. It rightly identifies finan- 
cial sector restructuring as the key 
priority for helping Korea regain 
investor confidence and resume a 
high economic growth path. 

That is precisely why Korea's 
economic program — launched re- 
cently with the support of an In- 
ternational Monetary Rind stand- 
by arrangement that will provide 
Korea some $21 billion in balance- 
of-payments support over three 
years — aims at building a so un d, 
transparent and more efficient sys- 
tem through its comprehensive re- 
structuring and strengthening. 

Indeed, and in contrast with tra- 
ditional IMF programs, financial 
system reform is the centerpiece 
of this program, with a firm exit 
policy, strong market and super- 
visory discipline and market- 
opening measures to increase 
competition as its most important 
elements. The IMF is not admin- 
istering “all-purpose medicine.” 
as Mr. Bowring claims. 

Mr. Bowring rightly notes 
Korea’s historical record of low 
inflati on, fiscal balance and s mall 
current account deficit Bui be errs 
in suggesting that high interest 


rates can be avoided in a country 
coping with a crisis of confidence. 

The IMF does not support 
keeping interest rates high for a 
moment longer than necessary, 
only until market confidence as 
reflected in movements in the ex- 
change rate begins to be re- 
stored. 

The experience of Mexico and 
Argentina in early 1995 showed 
that temporarily high interest rales 
can help stabilize the exchange 
rate: The real interest rate on 28- 
day Mexican treasury bills had to 
be jacked up to more than 20 
percent in the spring of 1995 be- 
fore the fall of the peso could be 
stemmed. More recently, three 
countries — the Czech Republic. 
Brazil and Russia — have suc- 
cessfully withstood pressures ori- 
ginating in the Asian crisis by 
raising short-term interest rates. 

While painful, a sharp, tem- 
porary liquidity squeeze is some- 
times the only way to avoid an 
exchange rate rout 

SHAILENDRA J. ANJARIA. 

Washington. 

The writer is director of the 
International Monetary Fund's 
external relations department. 

Middle East Strategy 

If the American-led powers are 
interested in protecting the lives 
of their citizens rather than pur- 
suing vague strategic goals in the 


Middle East, they will drop the 
futile game of hunt-the-tiumble 
with Saddam Hussein — who 
may well be hiding biological 
weapons in the mountains while 
giving the impression that they are 
hidden in a palace. In any case, 
one could never be certain that all 
such weapons had been detected. 

The future danger to civilian 
populations will come less from 
states than from terrorist groups, 
which take their moral justifica- 
tion from poverty-stricken peoples 
who blame the West, not entirely 
wrongly, for their misery. 

The West cannot resolve by aid 
or any other means Third World 
economic problems, which are 
mainly cultural in ori gin, nor can 
it completely contain die violence 
that results from these problems. 
But it should be a cardinal plank in 
Western foreign policy to avoid 
actions that will foment hatred of 
the West in the main breeding 
grounds of terrorist groups. Mil- 
itary action against Iraq, then, 
should be unthinkable. 

BRIAN MAY. 

Brussels. 


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


Tossing the Septnplets 
Into the Media 's Maw 

Bv Frank Rich 


N EW YORK — ll was only 
five days after Kenny Mc- 
Caughey told the world that he 
would nor turn his septuples into 
“a big show” and pul them 
on "display” that he displayed 
them on NBC's big show. 
“Dateline.” 

It took only a few weeks more 
for the McCaugheys to hitch their 
star to a show-biz agent. On Wed- 
nesday it was announced the}' had 


MEANWHILE 


signed with Wes Yoder of 
Nashville’s Ambassador Agency, 
which represents Christian re- 
cording artists like Susie Luch- 
singer and Rebecca St. James as 
well as such secular stand-up 
comics as Oliver North. Alan 
Keyes and Gary Bauer. 

If Mr. North can just fake it 
through "Edelweiss," perhaps he 
and the McCaugheys will one day 
tour as the von Trapps in ' The 
Sound of Music.” And why not a 
remake of “The Seven Little 
Foys”? Or "Cheaper by the Half- 
Dozen (or So.)”? Thanks to the 
McCaugheys. there will soon be 
one-stop shopping for any Hol- 
lywood director casting a new 
“Snow White.” 

Mr. Yoder was exuberant when 
1 reached him by phone. He had 
been planning to expand his 
agency, and “all of a sudden." he 
said, “we have one of the leading 
clients anyone can hope for.” His 
office was being deluged with of- 
fers: there had just been a first 
sighting of (unauthorized) Mc- 
Caughey T-shirts in the family's 
Iowa hometown. 

“I’ve already developed a list 
of companies I want to do busi- 
ness with,” Mr. Yoder continued, 
speaking of potential commercial 
endorsements by the McCaughev 
parents. 

When will the kids pitch in, 
too? "A year, two years, three — 
who knows when it’s time?” The 
septupiets' potential college ex- 
penses alone require big bucks, he 
said, since they would not nec- 
essarily attend the schools that 
rushed to guarantee them free tu- 
ition during the “Wheel of For- 
nme”-like orgy of prize-giving 
following their births. 

Could the public possibly get 
bored with the McCaugheys be- 
fore they cash in? After all. mod- 
ern fertility drugs might yet pro- 


duce an even bigger “miracle 
to upstage them. 

"I think this story’s going to 
have life for a long time, if it’s 
not overexposed," Mr- ^foder 
answered. 

If so. his clients will defy the 
odds with the fickle American 
audience. The Broadway musical 
“Side Show” tells ihe haunting 
true-life story of the Hilron sisters, 
conjoined twins who were stars 
for MGM and vaudeville's Orph- 
eum Circuit in the '30s. only to be 
tossed into oblivion by their agent 
and the public once their novelty 
wore off. 

More recently the Qucsada 
quints, bom in 1995 to Hispanic 
parents in California, were placed 
by an agent on TV’s “Picket 
Fences" and “E.R..” then faded 
into obscurity once Anglo quints 
with competing show-biz ambi- 
tions were bom nearby. 

j asked Mr. Yoder about the 
open letter to the McCaugheys 
written in Time magazine by the 
surviving Dionne quints. '5Us» su- 
perstars Who appeared at the 
Chicago World's Fair and in 
movies, lent their name to knick- 
knacks and were exhibited to huge 
crowds in their own Quinitand. 

Saying that their lives had been 
"ruiriedr" the Dionnes implored 
the McCaugheys to beware of us- 
ing multiple births for entertain- 
ment or "to sell products.” 

Their missive concluded poig- 
nantly: "If this letter changes the 
course of events for these new- 
borns. then perhaps our lives will 
have served a higher purpose." 

Mr. Yoder knew of the letter 
but had not read it. He said he 
felt "sorry for the hurt" the 
Dionnes had suffered but added 
that "the point of the mailer in 
the real world we live in is that 
you can't hide." 

The McCaughey kids will 
"have something of a normal life" 
and their lives won't turn “totally 
into a circus" because no deal will 
be made unless it "strengthens 
Bobbi and Kenny's marriage.” is 
"good for the family." is "done 
with integrity" and — most im- 
portant — “honors God." 

Is there a Christian way to toss 
children into the belly of the mod- 
em media beast that chews up 
celebrities and then spits them out 
the moment .Americans get bored ? 
Lei us pray. 

The Vi-.r Y,tI Tunes. 




Advertisement 


ADVERTISEMENT 


Tourism Plumbs the Depths of the Sea 


Tourists to Greece seeking ad- 
venture can always hunt boar 
or paddle down the wild rivers 
of Western Greece, but these 
activities, while exciting, are 
not the newest thing that the 
country has to offer. 

What is brand new is scuba 
diving at underwater archae- 
ological parks. The first of 
these parks is scheduled to 
open next summer in 
Methoni. off the coast of 
Western Petoponnese. The 
site Is near ancient Pyios. 
where a Mycenaean palace 
belonging to King Nestor — 
the mythical wise man of the 
Trqjan War — was located. 


"We are doing our best so 
that the park will be opera- 
tional in 1998," says Dimitri- 
os Kazianis, underwater re- 
search director of the Ministry 
of Culture's Archaeological 
Services. 

"OriginaHy, we were plan- 
ning to organize a park in the 
area of Aiortnissos. an island 
of the Northern Aegean where 
many shipwrecks were dis- 
covered," he adds, “but the 
depth of the various finds is 
over 30 meters {98 feet], and 
that makes it dangerous for 
the divers.” 

So, Mr. Kazianis explains, it 
was a lucky strike tofind a ship 


in Methoni, next to the islet 
Sapienza. The ship is near an 
ancient fort that is now folly 
restored and that is used as a 
museum for underwater ar- 
chaeology; the fort is also a 
center for the equipment and 
personnel required to run the 
park. 

Film fame 

The Idea for an underwater 
archaeological park goes back 
at least a generation. In the 
waters around Greece, mainly 
in the Aegean and the Ionian 
Seas, over 1,000 ancient 
shipwrecks have been locat- 
ed. Most are loaded with ar- 


“ Destination Greece: Adventure” 
iri try to DyarmeU ^ luamriauU HeriUb Tribune, 

it was sponsored by the Greek Tourism Organization 
Writer: John Rigas. based in Athens. 

Program Director: BUI Mahder. 


chaeological treasures. For 
example, most of the bronze 
statues adorning museums 
around the world were dis- 
covered under the blue waters 
of the Aegean and Ionian 
Seas. 

The treasures are, for the 
most part art works pur- 
chased In or looted from 
Greece and destined for 
Rome. Owing to the treach- 
erous weather of the Medi- 
terranean and the lack of 
weather bulletins to warn an- 
cient mariners of sudden 
storms, some of the ships did 
not make it to their destin- 
ations. Many of them sank 
after hitting shoals and rocks, 
only a few meters from the 
shore. 

A number of ancient 
statues were found by fishers 
in whose nets ancient mas- 
terpieces like the Youth of An- 
tikythira and the Youth of 
Marathon, now in the Archae- 
ological Museum of Athens, 
were hauled up. Naturally, 
these art treasures lying at the 
bottom of the sea attracted 
treasure hunters, some of 
whom, officials believe, were 
able to find wrecks and steal 
important objects. 

The statue featured in “The 
Boy on a Dolphin.” starring 
Sophia Loren, Clifton Webb 
and Alan Ladd, is now in an 
Athens museum. 

Greek authorities have 
tried to discourage private un- 
derwater searches by policing 
the areas where ancient ship- 
wrecks have been identified. 
Coast Guard patrol boats 
routinely search suspicious 
yachts found anchored in 
areas where underwater an- 
tiquities might exist. 

Several archaeologists, 
however, suggested teat be- 
sides the looters who were 
looking for underwater finds. 


there were many genuine an- 
tiquity lovers and scuba divers 
who only wanted to enjoy the 
view of the shipwrecks and the 
underwater beauties of the 
Greek seas. For these art lov- 
ers, they proposed, Greece 
should provide an underwater 
archaeological park. 

1 The site in Methoni, where 
antiquities are only between 7 
and 9 meters deep, sounded 
ideal because of the existence 
also of the fort and other an- 
tiquities inland," says Mr. 
Kazianis, whose department 
is working day and night to 
complete the preparations for 
the park. 

The magic of shipwrecks 

The Methoni Center will 
provide tourists with scuba 
equipment, and they wilt be 
accompanied by experienced 
divers who will guide them and 
provide security, says Mr. 
Kazianis. The center will also 
provide glas&bottom boats 
for tourists who do not want or 
cannot dive to see the an- 
tiquities. 

The center has about one 
acre of underwater antiquit- 
ies, which include vases, 
columns and sarcophagi, 
says Mr. Kazianis. The 50- 
year-old archaeologist dis- 
closed that an important pre- 
historic site was recently dis- 
covered in Kranidi. Eastern 
Petoponnese, at a depth of 
only four meters. 

“This was a settlement of 
the early Greeks dating back 
to 2,700 B.C., and it is con- 
nected with finds discovered 
in a cave in Argolis,” he says. 

Sites such as these, once 
they have, been evaluated by 
archaeologists, might also be- 
came underwater parks. 

Last month, a ship from the 
Hellenistic period was found 
near Herekllon, in Crete, and 


last summer, 13 shipwrecks 
were found in the Saronic Gulf 
near Athens and in Halkidiki 
(northern Greece}. 

1 The best area, however, is 
around foe island of Alonn- 
issos, which was a passage 
and where we are now study- 
ing one fifth-century B.C. ship- 
wreck. it is a very important 
find because we also found 
there a part of the ship's 
wooden hull,” says Mr. Kazi- 
anis. He explains that the 
wood has been preserved all 
these centuries because it is 
covered by sand, and “sand is 
the best preserver of wood." 

Delicate operation 

About 30 years ago. an an- 
cient merchant ship was 
found underthe sand nearthe 


port of Kerynia in Cyprus. Ar- 
chaeologists were able to re- 
move it from the sea and to 
preserve it in the museum of 
Kerynia. A replica of the an- 
cient ship was built which is 
now touring museums in the 
region. 

Among the recent finds lif- 
ted from ancient shipwrecks, 
says Mr. Kazianis. are bronze 
statues near Kalymnos in the 
Dodecannese islands. 

The treasures include a 
bust of a Macedonian king, a 
female body and a dolphin. 
These are being processed to 
ensure their preservation and 
will soon be exhibited in 
Athens. 

Culture Ministry officials be- 
lieve that the archaeological 
underwater park will open new 


vistas for tourism and will also 
be a good training field for 
underwater archaeologists. 
As a ministry official explains, 
the work of an archaeologist is 
very delicate under normal cir- 
cumstances and becomes ex- 
tremely so under water. For 
this reason, archaeologists 
who want to work under water 
need extensive practical train- 
ing. 

Mr. Kazianis says that al- 
though Methoni will be the 
first underwater archaeologic- 
al park, "there are other un- 
derwater parks for tourists 
who want to inspect under- 
water beauty or corals or mar- 
ine life for environmental pur- 
poses. It was from them that 
we were inspired, but we ad- 
vanced one step further.” • 


i 

l 

r 


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f 

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f 




V - 






PAGE 10 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


INTERNATIONAL 


Behind Nigeria ns Report of Coup Plot, Deep Cracks in Military 


By Howard W. French 

New York Tunes Service 

ABIDJAN. Ivory Coast — Just seven 
months before a long-promised return to 
democratic rule, the announcement of an 
aborted coup by associates of General 
Sani Abac ha has" underscored the instabil- 
ity of Africa's most populous country and 
added to already widespread doubts about 
Nigeria's shaky transition program. 

The news of a coup attempt Sunday 
reportedly involving General Abacha's 
second in command. General Donaldson 
Oladipu Diya and 11 others, including 
two other senior generals, was broadcast 
on national television late Sunday. 

Diplomats and Nigerian analysts said 
they had no way of knowing whether the 
charges of coup plotting were valid, or 
fabricated — as has often bom the case 
under Nigeria's murky system of mil- 
itary rule, as ajustification for getting rid 
of potential rivals or critics within the 
army. 

WhaL most analysts were unanim ous 
in saying, however, was that the arrest of 
General Diya signals deep divisions 
within the Nigerian military and reflects 


mounting tensions over General 
Abacha's apparent intention to remain in 
' office by engineering his own election as 
president. 

“Whether there was a coup plot or not 
is almost irrelevant to what happens next 
in Nigeria,” said a West African diplomat 
with long experience of die country. 

"Abacha has decided to press forward 
with plans to get himself elected, and has 
apparently figured the only way to suc- 
ceed is by stepping up the repression,” 
the diplomat said. ‘ ‘The problem is that 
each crackdown brings new enemies, 
and now this process has gone so far as to 
lead to bis own doorstep.’ ’ 

During much of General Abacha’s 
rule, international attention has been fo- 
cused on Congo, the huge central Af- 
rican nation formerly known as Zaire, 
whose political future was widely seen 
as a key determinant of whether much of 
this continent will know peace or chaos 
in the years ahead. Many diplomats now 
say. however, that the stakes for die 
continent in an unstable Nigeria, with a 
population, of 104 million, or twice that 
of Congo, are higber stilL 

Rising political violence or an accel- 


eration of Nigeria’s economic decay, for 
example, would affect neighboring coun- 
tries, erasing economic gains and pro- 
gress toward democratic rule in the re- 
gion. A full-blown civil war, like the 
devastating conflict Nigeria experienced 
in (he 1960s, meanwhile, would inundate 
many other countries, possibly including 
European ones, with refugees. 

"Nobody wants to see Nigeria ex- 
plode, but the fuse is burning and it goes 
almost unnoticed,” said another senior 
West African diplomat. 

“What is certain is that if it goes off, 
we will all go with it, and die price tag for 
bringing this region back will make re- 
building Zaire look like peanuts.” 

Already, during his four years in 
power, General Abacha has operated 
what one Western diplomat character- 
ized as a "rolling purge,” prematurely 
retiring or arresting hundreds of mid- 
level officers in a bid to keep potential 
enemies off balance and place loyalists 
in command positions throughout the 
country's 77, 000-man armed forces. 

Many expressed surprise, however, 
by the announcement that General Diya, 
effectively Nigeria’s vice president and 


a publicly enthusiastic booster of Gen- 
eral Abacha, should have bees the latest 
victim. 

Moreover, the fact that General Diya 
and nearly all of those arrested Sunday 
are ethnic Yoruba who hail from the 
country's already deeply disaffected 
southwest was seen by some as pro- 
vocation at a time when this country of 
powerful regional rivalries is entering a 
period of renewed civilian politicking. 

General Abacha, like his inner core of 
senior officers, and much of the army’s 
rank and file, are Hausa-speaking north- 
erners. 

General Abacha's move against a 
group of prominent Yoruba officers, 
coming after his 1994 jailing of 
Moshood Abiola — a wealthy Yoruba 
politician who is widely believed to have 
won the country’s most democratic elec- 
tions a year earlier — will be seen by 
many in the southwest as rubbing salt 
into an open wound. 

Even before the announcement of 
General Diya's arrest. General Abacha’s 
transition program for a return to civilian 
rule had begun to look less and less like 
the carefully managed return to democ- 


racy that it was claimed to be and more 
and more lifae a clumsily improvised 
script to return the president to office in 
civuian guise. ^ 

General Abacha celebrated his fourth 
year in office last month with a series of 
events that seemed designed to signal his 
intention to, cling to power. These in- 
eluded the distribution of hundreds of 
Abac ha-brand television sets imported 
for the occasion, the distribution of Sam 
Abacha lapel buttons and release of the 
work of a presidential commission, titled 
Vision 2010, intended to lay out a blue- 
pint for the country's economic future. 

The man ufactured cheer around an 
expected Abacha candidacy has failed to 
change the president's unpopularity, 
however, or the widespread disillusion- 
ment over his transition program. 

Living standards have continued to sup 
during General Abacha’s rule, even as die 
president and tightly knit circle of allied 
officers anrf foreign business people have 
raked in femmes estimated at $3 billion 
and $4 billion by die London-based 
newsletter, Africa Confi d en tial . 

Almost all of Nigeria's wealth is gen- 
erated by being the world’s seventh- 



General Diy<u one of those arrested, 
was the No. 2 to Nigeria’s leader. 


■TEtiSSS General Abacha, 
whose public appearances are few and 
whose appearance has become increas- 
ingly sallow is widely reported to be 
seriously ill. afflicted with kidney dis- 
ease, according to some, and cancer, 
according to others. 


Panel Affirms 
Milosevic Ally 
As President 

Ciwpded by Our Staff Fra hi Duy u trhg 

BELGRADE — The Serbian election 
commission said Monday that Milan 
Milutinovic, the Socialist candidate, had 
been elected president of Serbia and that 
the turnout of the 7.2 million electorate 
exceeded the 1 necessary legal minim- 
um. 

It reported that Mr. Milutinovic won 
58.65 percent of the vote in Sunday's 
second-round runoff compared with 
38.14 percent for his challenger. Ypjis- 
lav Seselj, the Radical Party leader. 

Nebojisa Rodic, secretary of the com- 
mission. said 50.53 percent of the elec- 
torate had voted and added: ’’This un- 
equivocally indicates that voting for .the 
president of Serbia was successful.” 

The Radicals said their estimates 
showed the turnout was under 50 percent 
and accused the Socialists of rigging the 
resulL 

Mr. Milutinovic, Yugoslavia’s for- 
eign minister, was the candidate of the 
Yugoslav president. Slobodan Milo- 
sevic. 

But international observers described 
the elections as "fundamentally 
flawed” and Mr. Seselj, an ultranation- 
alist. called the vote fraudulent, saying 
he might challenge the results. 

An observer mission of the Orga- 
nization for Security and Cooperation in 
Europe reported several irregularities, 
including possible rigging of the turnout 
and results in the province of Kosovo. 

The foreign monitors also reported 
the bias of state media in favor of Mr. 
Milosevic's protfigd, who “enjoyed a 
considerable advantage over Mr. Seselj 
both in quantitative and qualitative 
terras." 

Mr. Milosevic became president of 
the Yugoslav federation in July after 
being constitutionally boned from anew 
term as Serbian president The feder- 
ation is comprised of Serbia and 
Montenegro. 

It was the fourth time in three months 
that Serbia tried to elect a successor to 
Mr. Milosevic. 

Mr. Milutinovic and Mr. Seselj were 
the top vote-getters in the last election on 
Dec. 7. but neither had the 50 percent of 
ballots cast required to win the pres- 
idency outright. First-round voting in 
September also failed to produce a win- 
ner, and an October runoff was inval- 
idated because of low turnout. 

( Reuters . AP) 


Flight to Baghdad 
Defying Sanctions 
Is Stopped by Iran 


Reuters 

BAGHDAD — The Iranian au- 
thorities prevented a Russian plane 
carrying food and medical aid from 
continuing its flight to Baghdad on 
Monday, an Iraqi official said. 

The official asked not to be iden- 
tified and gave no further details. 

The head of the Iraqi Parlia- 
ment's Arab and International 
Committee. Saad Qasim Hamoudi, 
said that no permission had been 
obtained from the United Nations 
sanctions committee to allow the 
plane to fly to Baghdad. 

UN sanctions have grounded the 
national carrier and halted all trade 
with Baghdad except for essential 
goods. 

An Iraqi official said that aboard 
die flight were Russian members of 
Parliament and food and medical 
donations to Iraqis suffering from 
sickness and malnutrition resulting 
from the UN sanctions imposed 
after the Gulf War in 1991. 

Several members of the Iraqi Par- 
liament and other officials were at 
the airport waiting for the plane. 

The director-general of Iraqi Air-' 
wavs. Rabee* Mohammed Saleh, 
said that there were 30 people 
aboard and that the plane had been 
chartered by the Russian party 
headed by Vladimir Zhirinovsky, an 
ultranationalist. 

Earlier, reporters and Western 
television crews returned from Sad- 
dam International Airport outside 
Baghdad after waiting several hours 
for the plane to land. 



CUNTON: In Bosnia, President Speaks to Ethnic Leaders 


Bosnian youngsters waiting for President Clinton to pass by in Sarajevo on Monday. 


Continued from Page 1 

signed in Dayton into a living reality. In the end, the 
future is up to yon, not to the Americans, not to the 
Europeans, not to anyone else.” 

Of their responsibility, Mr. Clinton said, “Those 
who shirk it will isolate themselves. The world, which 
continues to invest in your peace, rightfully expects that 
you will do your part. More importantly, the people of 
this country expect results and they deserve mem.” 

Mr. Clinton’s national security adviser, Samuel 
Berger, said Mr. Clinton "went leader by leader, name 
by name, and was very tough, telling them they have to 
do their part.” He said the only tension came when Mr. 
Clinton asked the leaders of the three-man presidency 
— Momcilo Krajisnik for the Serbs, Alija Izetbegovic 
for the Muslims and Kresimir Zubak for the Croats — 
to turn over war c riminals for trial by an international 
tribunal. 

The Bosnian Serb president, Biljana Plavsic, who 
replaced Radovan Karadzic, who is accused of being a 
war criminal, was cautious in her comments. 

"I’ve told him that nothing can be implemented 
after a war very quickly," she said to reporters after 
separate meeting with Mr. Clinton. “We asked for 
patience and, slowly, one can expect results, but 
certain things cannot be implemented quickly.” 

In addressing the troops, Mr. Clinton said the Neath 
Atlantic Treaty Organization forces already had 


achieved much. "Bosnia is no longer the powderkeg at 
the heart of Europe,” he said- . . , 

“We ought to stay here, finish the game and take 
home the win for the world and for freedom, he said, 
recalling that it was Mr. Dole who said it would make 
no sense to leave the field on the verge of success.- 
Hillary Rodham Clinton, also wearing a leather 
jacket, told the soldiers the people back home ‘will 
say a special prayer for you. ’ _ . 

"I know rbar during this holiday, when my family is 
together, one of the things we’ll be grateful for is the 
service you perform,” she said. 

The president’s 17-year-old daughter. Chelsea, was 
visibly moved when Bosnian children presented the 
Clintons with hand-drawn Christmas cards. She wiped 
away tears as they sang, "If you're happy and yon 
know it, clap your hands. " 

Last week, Mr. Clinton announced that the U.S. stay 
here would continue for an indefinite period. He said it 
had been a mistake to fix a June 1998 deadline for 
ending the mission, which he had extended twice. 

The president was clearfy moved by his visit to 
Sarajevo. He described the war years during which 
people ran a gantlet of snipers and shells in search of 
water and food. “Now, they walk in security to work 
and school." Mr. Clinton traveled to Bosnia once 
before, in January 1996, when U.S. troops were just 
settling in. Mrs. Clinton and Chelsea last visited the 
region in March 1996. * 


BOYS: Juvenile Banter Dismays Women in the House of Commons 


Continued from Page 1 

101 from the Labour Party — were 
elected to the House of Commons. 

Trained in local politics and labor 
unions, where modem rules of inter- 
action between the sexes apply, they 
pronounced themselves astonished by 
the weird time-warp inside Parliament 

“It’s not something I can’t cope with, 
but it's inappropriate and childish,” Ms. 
Griffiths said. ‘ 'The MPs who have been 
schoolteachers say they use techniques 
they used in classrooms, like the with- 
ering stare to the naughty boy at the back 
of the classroom. But what makes me 
cross is that it's the wrong battle to have 
to fight" 

There are signs that women are slowly 
changing things inside Westminster. 
Men’s bathrooms now say more than 
just "Members,” on the outside, to pre- 
vent women from barging in by mistake. 
The House of Commons’ traditional 
barber has been replaced by a new 
“salon,” offering perms and elaborate 
hair-styling. 

And a Labour parliamentary commit- 
tee is examining ways of modernizing 
Parliament, including streamlining 
some of the cumbersome debating rules 
and possibly replacing the shooting gal- 
lery, where legislators play with their 


guns, with a day-care center where they 
can look after their children. 

But, despite a growing propensity for 
American-style sensitivity in the rest of 
Britain, many men in Parliament appear 
to be clinging happily to their old ways. 

In the House or Commons, legislators 
are not allowed to swear or to call their 
colleagues liars. But they are allowed to 
shout, "Mine’s a gin and tonic, Luigi!” 
as Nicholas Soames, a former Tory min- 
ister, does at die deputy prime minister, 
John Prescott, who once worked as a 
bartender on a Cunarri liner. 

They are allowed to make cuttingly 
humorous remarks, as William Hague, 
the Tory leader, did when Prime Minister 
Tony Blair congratulated him last week 
on ms forthcoming wedding. “As your 
honeymoon is coming to an end,” Mr. 
Hague said, '’mine is about to begin.” 

And they are allowed to “baik like 
werewolves” as they do when Desmond 
Swayne, a Tory, starts to speak. 

“One day when I got up, my hair was 
all over the place,” Mr. Swayne said. 
"I'm the MP for New Forest and 
someone — I don’t know who it was, l 
think he was sitting behind Dennis Skin- 
ner — said, ‘Eh, it must be a full 
moon.' ” 

“It doesn't put me off," said Mr. 
Swayne, who is no stranger to the rough- 


and-tumble of political discourse: he 
once joined a debate on women in com- 
bat by quoting St Bernard of Clairvaux 
as saying, "To be always with a woman 
and not to_have intercourse with, her is 
more difficult than to raise the dead .""(A 

C tion was passed around, denouncing 
for his “offensive” remark.) 

Mr. Swayne said that he had never seen 
his colleagues making rude gestures in 
reference to breasts or other body parts. 

"It can only be described as Lewd 
behavior, the sort of behavior I would 
have thrashed a boy for when I was a 
schoolmaster," he said. "If you believe 
what these women say, it seems that all 
we do is sit there and cat-call each other. 
But look at the debates we’ve had in the 
last few months — they’ve all been 
perfectly reasonable arguments.” 

“The fact that every now and then 
they're punctuated by a joke and a few 
ribald comments — well that's part of 
our tradition,” he added. 

Indeed, many old-time politicians are 
incensed that the women have even 
spoken out at all. 

"This sort of blubbing and whining 
just shows that a lot of these women are 
absolute drips,” Mr. Soames, the former 
Tory minister, who is often known by his 
schoolboy nickname. Fatty, told The 
Tunes of London. ‘ ‘Their complaints are 



'mW \,wnrr 


ridiculous. If they can't take it, they 
should get out.” 

Anne McElvoy, a political columnist 
for The Daily Telegraph, said the wom- 
en should regroup and stage a coun- 
terattack. 

“The House of Commons is over- 


whelmingly male, and the institution has 
been shocked by all these women com- 
ing in,” she said. "They should try to 
use it to their advantage. Some of the 
Tory backbenchers are very sexist, and 
what we need is a Dorothy Parker who 
can slap them down." ■ 


GAMES: Late Holiday Surprise! There’s Method to the Madness on the Computer Screen 


Continued from Page 1 

in front of a computer. Yet these prob- 
lems are seen mainly as matters best 
dealt with by parental guidance and 
common sense rather than as unsettling 
threats to the mental health of young 
people. 

“There has been a real shift from 
people being afraid that computer games 
would dry up kids’ brains to the view 
that there are good tilings about them,” 
said Idit Hard, a former research sci- 
entist at the MIT Media Laboratory who 
has founded an Internet media company, 
Mamamedia Inc., that produces educa- 
tional games for children. 

Mr. Pajitnov, who joined Microsoft 


last year, introduced millions of people 
to a potent blend of skill, concentration 
and compulsion found in the best com- 
puter games. He designed Tetris, per- 
haps the most irresistibly habit-forming 
computer game ever. Tetris, an elegantly 
simple puzzle game requiring the player 
to reorder cascading geometric shapes, 
sold 40 million copies omeveiy format 
from personal computers to Nintendo 
hand-held video-game players. 

For Mr. Pajitnov to even approach his 
past success will be a long shot So much 
has changed in the computer game in- 
dustry since the late-1980s, when Tetris 
arrived. Today's hit games, like Myst, 
Quake and Civilization n, tend to be 
Hollywood-style productions with 


three-dimensional animations and elab- 
orate musical scores. 

At Microsoft, Mr. Pajitnov is laboring 
to revive the popularity of computer 
puzzle games, which ebbed during the 
1990s as the industry focused mainly on 
action games. Even Mr. Pajitnov suc- 
cumbed. After emigrating from Russia 
in 1991, he tried his hand at a couple of 
“shoot ’em up” games, but without 
great success. "I keep coming back to 
thepuzzies,” he said. "I feel really good 
at them.” 

In July, Mr. Pajitnov ’s first effort, 
Microsoft Entertainment Pack: The 
Puzzle Collection, a CD-ROM with 10 
puzzles, hit store shelves. So far, sales 
have ranged from 2,500 to 5,000 copies a 


JUNK: Agency Slashes Credit Rating of 3 East Asian Nations 


Continued from Page 1 

Thai government to sell $5 billion in 
international bonds — was intended to 
raise cash to replace billions of dollars in 
loans brokered by the International 
Monetary Fund. 

Now those bond sales may be delayed 
or even scrooped as governments' come 
to grips with the higher interest pay- 
ments they will be forced to pay to 
investors as compensation for the risk of 
owning their bonds. 

The private sector in all three coun- 
tries, wnose currencies have plunged in 
recent months, owe large amounts of 
short-term debt denominated in dollars. 

Moody's said the downgrade reflec- 
ted growing concern that rambling cur- 
rencies have inflated repayment costs to 
crippling levels. 

“The East Asian financial crisis has 
exposed the vulnerability to changes in 
market confidence of a number of coun- 
tries that had built up high levels of 


short-texm liabilities,” Moody's said. 

The agency, one of the world’s two 
major credit-risk assessors, with Stan- 
dard and Poor’s Corp., said weakness in 
the Japanese economy and banking sys- 
tem added a * 'further, negative backdrop 
to the prospects for the region.” 

Moody's also downgraded Malaysia, 
though not below investment-grade, and 

warned that Japan was not healthy eno ugh 

to poll die region out of the crisis. 

Slow growth in Japan limi ts the pros- 
pects for rapid export growth from the 
other countries, while the problems of 
Japanese banks limit their ability to 
maintain lending activity in the region, 
Moody’s said. 

For Indonesia, Moody’s downgraded 
the foreign-currency ce ilin g for bonds to 
Bal from Baa3 and for bank deposits to 
Ba3 from Bal. Moody’s downgraded 
South Korea’s ceiling for bonds to Bal 
from Baa2 and for bank deposits to B1 
from Ba2- The ceiling for Thai bonds 
was downgraded to Bal from Baa3. 


The rating for the long-term foreign- 
currency debt carried by 11 Thai fi- 
nancial institutions, including Bangkok 
Bank PCL, the country's biggest bank, 
was lowered to Bal, signifying that debt 
issued by the institution was now 
deemed speculative, the equivalent of 
junk bonds. 

Thai authorities recently shut down 
more than half of the country’s finance 
companies. The country’s finance sector 
was badly hurt when the long-s tanding 
peg to the U.S. dollar was abandoned in 
July and the currency fell from 25 baht 
per dollar to more than 45 baht. 

For Malaysia, the ceiling for bonds 
was downgraded to A2 from A1 and for 
bank deposits to Baa l from Al. 

Moody’s also lowered the ratings of 
three of Malaysia’s largest publicly held 
companies — Tenaga Nasionai Bhd-, 
Telekom Malaysia Bhd. and Petroliam 
Nasionai Bhd. — and the commercial 
banks Bank Bumiputra, Malayan Bank- 
ing, and Public Bank. 


month — not a hit, but probably a 
moneymaker, says Ann Stephens, pres- 
ident of PC Data Inc., a research firm. 

Mr. Pajitnov’s current project, it 
seems, is another modest beginning. The 
picture puzzle game tested recently in 
Microsoft’s computer lab is one offering 
a collection of logic, word and image 
puzzles called Mind Aerobics. The col- 
lection was released earlier this month 
on the company’s on-line service, which 
charges subscribers a monthly fee. 
Later, the puzzles may also be placed on 
a stand-alone Web sire, available to any- 
one with Internet access. 

Tbe intent of Mind Aerobics is not to 
lure people into hour after hour of play 
but, as its name suggests, provide users 
with 20 or 25 minutes a day of intense 
"exercise for the brain.” 

One mental workout is a picture puzzle 
called Rotascope. It appears on the screen 
as a fractured circular image, fragments of 
aracture, scrambled in concentric rings 
The player chooses from three levels of 

difficulty. At level three — the hardest 

there are five concentric rings of distorted 

pieces of a picture. 

One space is vacant, allowing the 
pieces to be moved, sorted and re- 
arranged. Ii is straightforward at first, 
pieces slipping into place, points racking 
up. It seems simple. It is not The path to 
completion can be torturous — point, 
click, drag, faster and faster. 

The puzzles are being offered on-line 

because that is where the computing audi- 
ence is heading. “Soon everyone who 
uses computers will be on tbe Net,” Mr. 
Pajitnov said. "So if I want to establish 
the puzzle, expose as many people as 
possible to this intellectual pleasure, I 
nave to get them on the Net” 

The Internet is seen as the future of 
gaming, and most experts agree that 
future will be far more than action 
games. By 2001, the number of on-line 
game ^players will nearly triple, to 18.4 


Turkey Says Envoy 
Of Greece Was Spy 

New York Tunes Service 

ISTANBUL — The Turkish gov- 
ernment said Monday that it was ' 
expelling a Greek diplomat accused 
of spying, setting off another round 
of recriminations between the two 
countries. 

“One of the administrative of- 
ficials in the Greek consulate in 3 
Istanbul was found engaging in ac- 
tivities incompatible with his status * 
and was asked to leave Turkey,” a 
Foreign Ministry spokesman. Sennet 
Atacanh, said. “He was engaged in 
intelligence-gathering operations.” 

The Greek ambassador was called 
to the Foreign Ministry and told that 
Mr. Haialambus had seven days to 
leave. He said later the diplomat had 
already departed and would not re- 
turn. Turkish newspapers said he had 
been caught photographing military 
bases and seeking information of use 
to Kurdish rebels. In Athens, Greek 
officials denied the charges and 
vowed to expel a Turkish diplomat 


million people, while revem 
surge twelvefold, to $1 .6 billion 
from advertising, estimates I 
Research Inc. 

Most of the growth, says See 

hams of Forrester, is going to 
come not from the die-hard aerie 
gJlfP* ^.post-adolescent m 

SISS 8 ® ** num bers of wo. 
people of all a&pje vvhn nin.. 



t&is wider audience. 

to on_li ? e game marice 
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Thierry Mugler's sparkling fairy-queen look, left, and David Fielden’s balletic dress. 


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By Suzy Menkes 

International Herald Tribune 

ONDON — The party frock is fancy, tinselly and 


world felt by die Victorians when the industrial revolution 
overwhelmed their pastoral idylL 
Even that special relationship between little girls and fairies 
does not seem to have been broken by the advent of fe minism. 


over-the-top. And fashion folk have just the insult to Rather the reverse. Just as the future Queen Victoria was a fan 


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,1 suit: “She looks like the fairy on the Christmas 
A-/ tree." 

But that was last year. 

This season, fairies have soared on their gauzy wings to the 
heights of fashion. In London, hallucinatory cavalcades of 
otherworldly creatures are mesmerizing visitors at an ex- 
hibition of fairy paintings. On the party scene, it looks like a 
magic wand has been waved over the hip crowd, as dresses are 
5-shimmer with translucent beading and the tiara is worn as 
ponchalantly as a necklace. 

■ The runways too are a-flutter with fairies — and not just 
fiecause of the diaphanous dresses worn in airy layers. Wings 
lie even sprouting at shoulder blades as the ultimate ac- 
cessory, to show that fashion has flipped from androgyny to 
^mihinity. 

> ■ < All these disparate elements have come together to create a 
faiiy mpmoit You know that enchantmencis in the fashion air 


of the romantic ballet and worshipped the ballerina Marie 
Taglioni in “La Sylphide,” the same graceful, romantic, be- 
winged style has a continuing allure for young girls dressing 
up. And the more so to a generation brought up in jeans. 

Perhaps the key to this fairy thing in fashion can be found in 
the chorus of a Victorian music hall song: 

“Oh, for the fairies, whoa the fairies. 

Nothing but splendor and feminine gender. 

Oh. for the wings of a fairy queen!” 

After one generation took on se xism and mann ed the 
feminis t barricades by appropriating men’s clothes, there is a 
deliberate return to “the feminine gender’ ’ from avant-garde 
designers. Prom Marc Jacobs through Lang and Calvin Klein, 
come floating fabrics and tulle skirts, fanning out like the 
clothes of the proverbial fairy on the Christmas tree. Fairies 
are feminine. Fairies are modem. Fairies are super-cooL 



fmea 

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Qm«of*cr Un«, Rnyul Aiadcni) at Aim 

Lagerfeld’s tinselly fairy gown, left; Anna Sui’s butterfly wings, and “ The Golden Age ” by Thomas Heatherley. 




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Bgtit tulle skats and calls his collection “urban angels”; when 
{hehipAnna Sui offers a dress with butterfly wings, and when 
{CariLagerftld is inspired by a collection of fey dolls. 

* ‘'Victorian Fairy Paintings” at the Royal Academy (until 
feb. 8) puts it all into perspective. The weird and wonderful 
visions, tie erotic undertones, the Puckish playfulness of tie 
‘‘little people" suggest something far more intriguing than 
Sugar-plum sweetness. Even if the images later became san- 
itized as the cute Flower Fairies of Cecily Mary Barker’s 
Children’s books, tie earlier paintings are fantasies of a darker 
pud more complex kind. 

• Here is an enchanted duo, entwined in a bird’s nest, while 
(he surrounding foliage teems with surreal Hieronymus 
Boscb-type creatures — the entire oil painting by John Anster 
Fitzgerald enclosed by a spiky frame of winter brandies. Or 
there are Titania and Oberon from Shakespeare’s “A Mid- 
summer Night’s Dream,” among a tumble of voluptuous, 
caked winged bodies in Joseph Noel Paton’s paintings. 

A BOVE all, thoe are tie extraordinary and unsettling 
visions of the mad Richard Dadd, whose escape from 
his insanity and incarceration in Bedlam Hospital 
was to create the mani c minutiae of fairy kingdoms 
that seem as twisted and grotesque as Grimm's fairy tales. 

In a catalogue that is more comprehensive than tire show 
itself, the various authors analyze tie work of these pre- 
Freudian painters who seem to be “following darkness like a 
dream.” iftbe sylvan tranquillity of the “faerey bowars” 
seems tenge ynd menacing, you can cake the barely veiled 
fairies as licenced erotic ism and legitimized nudity ip a sexu- 
ally prim era. And what look like bacc han a li an orgies might 
have been drug-induced fantasies. Some erf Fitzgerald’s dream- 
sequence paintings have direct references to the laudanum (a 
tincture ofopium) that has been described as “tie aspirin of the 

19lh century ” and was used as a drug in artistic circles. 

It does not seem a very big leap from die hallucinogenic 
visions of tie Victorian Era to the 1 990s image of tie former 
grunge-rock star Courtney Love decked out as a trashy fairy, 
with tiara and lipstick askew, or of M adonna at the recent 
Versace gala in New York, with a star-patterned wizard’s coat 
below her angelic blonde curls. 

Sex, drugs, rock Vroll stars— is this really what fames are 
about? Tliere is also a strong element of escapism, found in the 
Victorian fascination with tie occult and in spiritualism 
mirrored in tie alternative religious cults of modem times. 
.In fact, furies probably seem fashionable now beca u se 

there is a similar yearning for romance and fantasy in an ugly 


BOOKS 




j. - - 

->• w- j ■ 


** *• f* fv 
* * ' 

. .. •- 


; z 



ALWAYS OUTNUMBERED, 
ALWAYS OUTGUNNED 
By Walter Mosley. 208 page. $23. Norton. 
Reviewed by David Bradley 

I N 1940 Richard Wright’s “Native 
Son’* exploded onto tie American 
literary and social scene. With authen- 
ticity implied by its having been written 
by a black and based on a celebrated 
Chicago murder case, the novel imme- 
diately became a massive best-seller. 
Most reviewers labeled it as searing a 
protest against racism as Harriet Beech- 
er Stowe’s “Uncle Tom’s Cabin” had 
been against slavery. Predicted Henry 
Seidel Canby, “No white man — and, I 
suspect, few Negroes — will finish this 
narrative without an enlargement of 
imagina tion toward the psychological 
problems of tie Negroes . . . and an 
appreciable extension of sympathy.” 

Sympathy was not Wright s goal; his 
intention was to write a tale “so hard and 
deep” that readers “would have to face 
it without tie consolation of tears.” Ac- 
cordingly, he created a protagonist. Big- 
ger Thomas, who almost seems the pro- 
totype for contemporary criminology’s 
“young black male.” Bigger acciden- 
tally smothers a white socialite, then 
rapes and murders his black lover during 
a pathetic escape attempt. Awai ting ex- 
ecution for the murder of the socialite, he 
attempts to comprehend tie forces that 
shaped his life — and fails. 

One suspects no white readers — and 
few black ones — wept at Bigger’s death. 
But (me also suspects that for some Big- 
ger confirmed bigotry rather than en- 
larged tie imagination. Today, when 
blacks — and a few whites — are pain- 
fully aware of tie threat men like Bigger 
pose to tie black community, Wright’s 
protest seems paradoxical, for in both a 
social and literary sense. Bigger is more a 
port of the problem than of the solution. 

But now another black writer, Walter 
Mosley, author of tie best-selling Easy 
Rawlins detective novels, has revisited 
Bigger in a powerful work of protest, 
“Always Outnumbered, Always Out- 
gunned.” Though “Always Out- 
numbered, Always Outgunned” is not a 
novel bur a collection of stories, all share 
tie character of Socrates Fortlow, a 58- 
year-old black ex-convict who dwells in 
unsplendid isolation in the Los Angeles 
ghetto of Watts, in a shack that even the 
landlord has forgotten. He subsists on 
tie redemption of cans and bottles. 

In youth Fortlow, like Bigger, 
murdered and raped. Bui nnlike Bigger’s, 
Fordow’s crimes were against blacks 
only; he was sentenced not to death but 
life. After 27 years in prison, during 
which he killed repeatedly, he was re- 
leased. Though an oldman, he went west. 
After one week In Los Angeles, he beat 
tie blood and spirit from a young black 
name d Rinnett Though prison had not 


may soand boring. It is not. For Mosley 
invests mundane situations with moral 
peril and concomitant opportunities for 
growth. From tale to tale the problems 
grow in complexity, as Fortlow seeks, in 
tie narrow space society affords him, 
nonviolent solutions that will also pre- 
serve his dignity. 

Mosley has thought hard about tie 
criminality in the black community. He 
, has also thought about Wright’s por- 
trayal of Bigger; tie parallels are abund- 
ant But Mosley has made different — 
and arguably better — decisions. Wright 
limited himself to Bigger’s point of 
view, which meant drab perceptions and 
an amoral consciousness. Mosley has 
enriched his descriptions with language 
and imagery beyond Foniow’s ken, and 
invested Fortlow with both a conscience 


and a voice. Bigger was inarticulate; 
Fortlow speaks with realistic simplicity 
and unsparing honesty. 

The combined effect is so moving one 
cannot help but wish that Mosley had not 
only collected these tales but reshaped 
them to remove the repetitions needed 
for them to stand alone. 

But one also cannot help but applaud 
not only what Mosley has done but the 
risk he has run in doing it A successful 
commercial novelist be could have se- 
questered himself with a proven char- 
acter and genre. Instead, he created the 
story of Socrates Fortlow and challenged 
his audience to read it . . . and weep. 

David Bradley, author of “ The 
CtumeysviHe Incident." nrote this for 
The Washington Post. 


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CHESS 


By Robert Byrne 


A SPIRITED Russian victory with a 
queen sacrifice was scored by Al- 
exander Khalifman in the sixth round of 
tie Fourth World Team Championship, 
against his former countryman, now 
Ukrainian, Oleg Ro mani shin . 

Russia was represented by Yevgeny 
Bareyev, Peter Svidler, Aleksandr Khal- 
ifman, Sergei Rublev sky, Aleksei 
Dreyev and V. Svjaginsev. 

The Petrosian System against tie 
Queen's Indian Defense, with 4 Nc3 and 
5 a3, avoids a Nimzo-Indian-style pin 
with _-Bb4. It would seem as though 
giving up a tempo with 5 a3 should not 
be worth it, but this mode of play is 
currently thriving. 

Black’s 5...g6 represents a minority 
viewpoint, yet Romanishin has favored 
it for years. The goal is not to balance the 
white center with 5..xL5 but rather to 
main tam a flexible formation. 

On 6 Qc2, if Black continues non- 
chalantly with 6..Bg7, he will find him- 
self in an inferior setupin a King's Indian 
Defense after 7 e4. Thus, Romanishin 
played 6...Bf3, which gives White tie 
bishop pair and relies on the resulting 
doubled f pawns to impede the enemy 

ROUANISHMfiLACK 


RoplAcaikBirirfAlIi 


'<■ 

- ' 


'Titania,” 1866 , by John Simmons. 


saw bow Rinnett gradually “grew older 
and more somber . . . meaner and risab- 
bier.” and. although be never spoke with 
Rinnett again, he found himself having 
“imaginary talks” with him. 

To those used to detective fiction, this 



attacking possibilities. 

It is unclear whether 7 gf might not 
have been preferable, tie idea being that 
White can defend his d4 point with e3, if 
that becomes necessary. But Khalifman 
apparently wanted open lines for piece 
play. 

Romanishin's 8...c5?! was dubious; a 
low profile with 8...d6 and 9— Nbd7 : 
would have been harder for White to 
come to grips with. , 

While Romanishin had no real object 1 
of attack, Khalifman went after tie black i 
king with 12 g4!? d6 13 h4. After j 
13...Nbd7 14 g5 hg 15 bg, he had de- 1 
cisively opened the h file. 

Romanishin's 19...b5 was a desperate 
move, but he already must have aban- 
doned tie thought of .using a move to 
take his rook away from the bishop's 
attack. 

He opened paths against tie white 
king with 21...M 22 abQb8 23 f3 cb. but 
after 24 Kbl b3 25 Qd3 Nc5, Khalifman 
struck first with tie tremendous 26 Bd4! 
Romanishin saw that 26..Re4 fails 
against 27 Bg7 Rf4 (27..JCg7 is cash- 
iered by 28 Qc3) 28 BffS'RA 29 Qd4. 
Also. 26...f5 27 Nc5 dc 28 Bg7 Kg7 29 
Qc3 is crushing. 

So Romanishin took tie queen offered 
him with 26..JNd3, but after 27 Nf5 Bf6 
28 Bf6. he gave up in the face of 28... 
Nh7 29 Rh7! Kh7 30 Rhl Kg8 31 
Rh8 mate. 

QUEEN’S INDIAN DEFENSE 


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KHALfMANWHTE 

Po s i tion after 25 . . . Nc5 


White 

Black 

White 

Black 

Khal’u 

Rom*B 

Khal’u 

Rom’n 

1 64 

Nf6 

15 hg 

Nb7 

2 C4 

efi 

16 ft 

Re8 

3 Nf3 

b6 

17 Bb5 

Nhffi 

4 Nc3 

Bb7 

18 0-04 

86 

5 83 

efi 

19 Bc6 

b5 

IF 

BG 

Bg7 

20 Ba8 

21 Ne4 

Qa8 

b4 

8 Bg5 

c5 

22 ab 

Qb8 

9d5 

hS 

23 G 

cb 

10 Be3 

ed 

24 Kbl 

b3 

11 od 

0-0 

25 Qd3 

Nc5 

12 g4 

66 

26 Bd4 

Nd3 

13 M 

NW7 

27 Nf8 

BN 

14 g5 

hg 

28 Bf6 

Resigns 


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PAGE 12 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23 , 1997 


NYSE 


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24 16ft AK9M1 50 2.9 7 2717 17ft 16U 17 *ft 


I£4 22Vi AMB Prn.ISp _ - 340 24ft 239* 24 


25V.20 AMFn 


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21,^ fiflUMJ* w 17 629 21 ft* Sift lift _ 
li* MS?. - 13 6695 I2tft 123V, 123V- -IV. 

IWs.JK! APT Sain - _ 544 II 10 10ft -ft 
5lft 40ft WKSCh 180 6,1 40 509 45* 44ft* 45* +ftk 
37ft 1* A5ALM UO i7 _ 697 71V. 715k 71ft +Vk 

61ft 30ft AT&T 1-32 2.1 23S2S88K3U 41M 63ft +29k 

39ft l?v» AVXCp 14 11 13 1979 19%* 19ft 195* _ 

39ft 2«I4 AXAUAP55e I J _ 538 3914 3814 39U *U 
Bft 9ft Aamess 13 1.1 II 4888 12ft 12*k 12ft **>• 

69ft 49ft AbtLaD 1J» 16 2510722 660* 64U. 66Vk +11* 

36W 121* AterfiWi _ 43 694 23Vk 27ft 29%fc -V* 
21 12ft AhBWg .40 _ _ 2171 12ft 12ft 
35ft 17ft AqjBns _ 11 351 24U*t 23ta 24 -V* 

33 15ft AccuSffl _ 27 3628 26ft 25ft 25ft -ft 

Ifft 10 AckGtn JB .1 _ 143 17ft 16V I6U -ft 

10ft 4ft AonaE _ 86 1B6 5U SW sft, 

19ft 81* AaaeMI _ _ 321 9ft 8ft Bft +Vk 

291* IS'-- ACUSOI _ 39 1719 14V. 1SV* 16V* +ft 

2SM 19ft AdoEx I.WB &4 _ 500 23*k 22ft 231% +y* 

24ft 16V.AFPPBM use 72 „ 1S2 17ft 1714 17ft +*. 

«Vi 17V* AMD - -13497 19V* ia%* 185* -%ft 

27 1 * 10ft AdVHl .167 4 16 186 25 24 Vt 3445.+M. 

73ft lift Adwolnc _ 19 493 HMa 20ft 20ft +Vk 

12tak 7 AdHCOt - 9 371 7 >Vb 79k 7ft 4* 

SV^ 1 — 56’* Aoqon 1JS20 \3 23 116 87ft 07U 87ft -ft 
125* 3ft Aonflax _ 20 1292 7W 71* 7ft -ft 

Bft 32ft Aero Vick .B0 1.6 IS 1545 SO 48ft 49V* -U 

27ft 24ft AetnaCpf2J7 8.9 _ 173 j*u 14ft 2Mta - 

518ft 47’ . Aetna IlK .80 13 21 7359 68Ud64%k 67ft -ft* 

104 67H Aetna ptCA76 7J) .. 646 69ft 68 ASM -<V* 

305. 19ft A (tCmpS S _ 23 2221 2Sft 25V* J5'V.*%k 

29V.23’. AffMgnn _ - 782 292* 281* 29 -*k 

14U 4V* AgniCDB -<0e 1.9 11*7 5*u 5ft 5V- -ft* 


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- 63 1251 26ft 24 24ft +h 

418 J 17 250 39ft30h30r»-%* 

_ 33 1978 37ft 36ft 37ft +14 
.40 U, 29 730 ISft 1ST4 15V- _ 

M U 17 4341 399* 38V* 38V* -V 

M2 60 16 294 lEtak 3SV* 3S4h+15k 
JO X2 - 461 9U 9V* m _ 

JO 43 _ 127 9Vk 9Vk 946. - 

JO 47 _ 2150 Bft 8*k 8*k _ 

J2 64 - 281 9V* 9V* 9ft - 


50V.48U Cowcpfi: _ _ 580 50V* 

27 24takCon8Cp(TX29 87 - 154 26Vk 
4S 211* CnOjar „ 18 756 27% 
41ft 27 CanEa 2.10 5J 14 9686 4DU 
26U 231* CanCrJSl 1.94 7 A _ 149 26 
56V.23M OxnGdls _ 43 293 47V* 
6Mfc47ft ComNG 1 M 13 18 2009 59ft. 
60VW47V* CanPap MB 12 20 479 5316 


J4 8.0 - 1406 7 


SII«2Se8 74a 4.9 _ 


13ft 121* BBJQM .790 5.7 _ 


119* 10ft mmTar ^ US 

IOU 9ft HtftNA JU 08 

8Vk 7ft Blear .47 55 

9ta m BttTT J8 63 

3S6V.19M Btcncti JO 1 J 
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790 5.7 _ 227 131* 130*. 13U -Vk 

Ba 78 _ m, m SV. 8ft. - 

41 SS - 293 11 109*11 *VU 

JU 88 _ 449 10ft ia»k 10ft H-Vk 

.47 5J - 528 8ft #4-14 8V* - 

M 63 _ 949 9V» 9V* 914 -V* 

JO 13 45 174 33ft 3JT» 33f*4-«te 

20 12 48 1573o45U 44ft> 44ft -1 


. 34 9259 43 

_ _ *48 5ft 

_ 9 1895 3656 

- 8 1439 47 n 6 1 
20 J 10 4388 391* 

I4e 8 _ 143 25 


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4BVi 17V* AMD 
77ft 101* AllWKl 
23ft lift Adwntaic 
12tak 7 Advocat 


40 U . 127 9ft W* 9ft - 50 2411 ConStor - 34 925? 43 

40 47 _ 2150 Bft B*k Bft. — 7U2 CCO-K, _ _ 64S 5ft 

. _ . . J2 44 - 281 9V. 9V» 9%% - 4«*22H Gadffind _ 9 1895 26V* 

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St 8.0 _ 1406 7 6ft 7 +V* 399* I5ft OlHne JO J 10 4388 391* 

74a 4.9 _ 299 15V* ISV** 15ft *Y» 26ft 13ft CeaCMa .I4e 8 _ 143 25 

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79a 57 _ 227 13ft 13% 13U -Vk 12U 9 anker Hit 3 13 VI 9% 

5Sa 78 _ 286 8ft BV. 8V. _ B1U 30U CoapCas _ 57 3386 5Bft 

81 £5 - 3S9 11 10% 11 *Vu 42 15ft SepCO - 18 553 39ft 

84 88 _ 449 10ft 10Vk 10ft +Vk 59%3n* Cooper MB 27 15 3162 «ft 

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J86J-948n>91*9M-Vta 28ftilB CooprTr SB 18 16 1357 269* 
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M U 48 1573U45V4 449k 44ft -1 Sft 11% Coimitfl 1025 3ft. 

JB IJ 16 257 24 23ft 23% 4% 9* Bft Carilaitn - _ 736 OH 

S7«14J _ 363 1114 lift lift. 4* B1M46K CoraSlF 2.0M 15 21 3775 00ft. 

23P - 14 335 17V* lift 12ft 4ft 31U 289* D>nPd Wl - _ 712 30% 

_ 26 109 4ft 4ft 4VS +V* 23%T9ft CamPpnlJlr 78 52 120 23 

- 28 000 29V- 28ft 20% +U 20 14 CdrPmTn MQo 63-301 19V. 

84 1.1 9621431 49V* 4B «U 4% 12ft 10U Com la n 180 SJ _ 507 12 

80 28 - \27\ 29% 29V* 79h 4* 100V1.S9U ComDpt 380 58 _. 281 flOft 

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lift B BtueCf*, 187*148 _ 363 lift lift 11% 4* 

19ft % Biuesq jap _ 1J 335 12ft lift 12ft 4ft 

5ft 2ft BIlMgmen _ 26 109 4ft 4ft 4ft 4ft 

39ft 20ft Btyttl 1 - 28 000 29V. 2Sft 20% 4ta | 


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42ft 33ft FdCar 12D flJ 24 929 37% 36% 3666 -U 

24U 21 FeavBgs 280 S3 31 134 22% Sft 22%*% 

26ft 18ft Ferro i J8 28 _ 1043 23ft 23 23ft 4k 


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10 6ft Fktfpt JOr 43 _ 119 7% 7% 7% -Vk 

14% 8% FAEnAs J2e 47 _ 909 9% SU «%-% 

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1106 J M 101 Mlb 1381* l»ft Gv> 
1 S J **MW9 39U 36ft 30 *1% 


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48% 31 1* Rnmas J6 1J 20 1663 47ft 47U 47ft 4% 
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68ft 31ft FAFik JO 1J 15 215 67% 66ft 67ft 4ft 
29ft am Fxtfimd 4115 M 1386 26% 2511, 96ft 4% 

851* 50ft FCNNBQ UW 2.1 17 8575 83% B2ft 12ft 4% 

31 17ft FdTCtaSft SB IS Zl *33031% 31 31% 4ft 

12ft lift FCinwF 59 8.1 — 297 12% 12% 12% -% 

46ft 25 FotDota .08 J 2S5S9M 26ft 2SM 25% -V* 
26 13A FFhFd 145ei86 _ 304 18% 18ft 18ft -ft 

37ft 27ft PsflnRT 2.121 6iO 21 368 35ft 35% 35U 4% 

15% lift FHssI lJlellJ - 186 13% I2U lfV*-% 

16U 7 BPtlB 140*214 _ 572 7ft 7 7 -Vk 

31ft 16U FUfiepBk _ 18 352 3M 29% 3Sfttr+% 

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l»ft 7ft FktFtT 49* 74 _ 1596 Oft 8% 0% 4% 

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36% II ft Roman -56 24 13 USS 27% 271k 27ft -ft 

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45%28ft BotseC 40 10 _ 1271 29% 29% 29ft -V* 
25 ’6 14U BotaCOH _ 17 1SX 15<ft> 14U 15 -ft 

9 3U tenOOf _ _ 1447 4ft 4V* 4U -% 

12U 7ft EtardOl «fclOJ 15 1940 7% 7V* 7V* _ 

32% 171* BORfens _ 36 2154 XM* 29ft 29ft -It* 


19ft 10ft BorWSC _ 25 499 18ft 17% 18ft 4lft 

11 7%BostBeer . M 47V Ik I 8% -ft 

X 24ft Stall Ed 148 SJ) 20 2873 37% 37k 37% _ 

3SH 26% BostPm n J5a 24 _ 90S 33% 32% 33% -% 

78% 41 BastSc - 3911345 44ft 41ft 44 42% 

35ft 16ft BadTedl _ 24 619 24U 23% 24V* +% 


29ft lift Ba liras ,17n _ _ 431 2DV* 20 20ft *rt 
57 36 Bmratr JD 18 47 1472 43% 42% 43ft 4l%l 


13% 12ft CpHYD 140105 _ 86 13ft 

45%20ft OklkdCp _ 60 3897 33ft 

15ft Bft Conpro _ 14 153 14ft 

43ft 20ft cartBrn _ 23 104 36ft 

Aft 24ft CntwQd JH A 14 3689 41% 

33ft 24ft CousPr 1441 SJ] 18 1048 TKh 

23V&MU Gowra _ to 1410 171* 

39%18 OnCrn _ _ 4397 X 

42 ft 16ft CaxRafia . _ 109 41 

47ft 27ft CKBM* JO 1-2 18 951 42W 


_ 14 153 14ft 
- 23 104 36ft 

J 14 3689 41% 


67U 32 Atvncxr. M 1J 18 54BO*S7% 65ft 65% -ft 
32 19*. AhoUl J2e 1J 25 171 26 25ft 25ft +ft 

B«* 66ft AirFTad 1J0 14 ffl 3071 77ft 76ft 77%*% 

27V* 13ft AtrNMS _ 19 91 19k 1 * 19ft 19ft -U 

74% 21 ft AfrFrt JO J 23 1777 61% 60ft 60U +U 
24ft 13ft Anon _ 38 2335 14% 14 14% -v* 

17ft 9ft Alrfcase 140nl34 8 95 13k 13V* 13% -V* 

42 22 AVTouch _ S3 8380 39V* 38% V *Pk 

37ft 25ft AirldiplB 1.74 S.1 - B* 34ft 34k 34% -% 


63 42ft AirTdiDfC 213 34 _ 520 60 59V* 59U *lftf 


25ft JJft AtaP47 II _ _ 1081 245* 24% MM _ UJ 

25% 231* AlaPCsra 1JW 7J _ 148 25ft 25 25ft +k -SSJ’SS 

26ft 23ft AtaPCpfR 150 75 _ 119 2»« 25% 25% +% 'S 1 * ^ 

40ft 201* AJskAfr _ 10 3165 36% 35% 36%*% ", 

771-klVU Afemln J2 18 14 918 23 22U 23 *VV 2%Zlh 


21V* 9 HokHHI n _ _ 1060 70ft 9ft 101* *ft 

9ft 5 BavdGm _ _ 203 7% 6ft 7 -I* 

77k 20 BavkinL 180 7.1 _ 159 25% 25% 25% -% 

21% 17ft BrndRE l.« 6J 17 330 201* 20ft 20ft 

16% 10ft Bndvna n J9e 13 _ 226B in* 12% 12ft - 

25U 18ft Bnmdyw 1 J8f OB - 148 24k 24% 24% -Vk 

32ft 17% Brazil JJVelSJ _ 492 21 U 70ft 71ft -V, 

18ft 9ft BitallEF4.97A4a8 _ 1005 12% 11% 12%*% 
27ft 17 BradTdl J1J _ _ 2542 19 18ft 1SU r >% 

53ft 42ft BitaSM 1.12 2J 22 1373 49U 48% 46ft -V* 

12% 4ft BriSchA .08 1.1 _ 345 7% .7ft 7% % 
179* 10ft Blinker _ 19 3032 16ft 16U 16ft % 


24ft 149* Cmdlcps -42p 2J _ 115 17% 
-Oft 24ft anflEsl52f 48 36 1510 38% 
56%33ft Cradnrs 1.16 21 23 1179 56 1* 
181* 12ft OIMMalJBt 9 3 12 1243 15V* 


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28% 14ft CrUTbrs 22 .9 24 674 23U 
23ft 7%CresCAD*a - 14 122 99k 
9% 7ft CnmAm JO 9.1 . 296 8% 

59ft 43% CwnOvfc 1J» ZjO 23 3619 49ft 

17% vu cmcr .u a 20 111 16 

27 20ft CumPac IIS 92 24 509 23ft 

19 7ft ayoite _ 29 143 13ft 

60%3Ift ainft 1JW \J 23 402 60% 

5D%33 CuOqnWlr _ 35 2166*51 

B3 44ft CwnEng 1.10 1.9 12 974 5B 

18% 7ft CjrpSem _ 3916314 9Vk 

3t%i4% Cyprus JO U 1110114 ISV* 


26ft 23ft AtaPCpjR 
401* 20H AlskAfr 
277- 19ft Atbnyln 


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2SV*90ft BritAir X17* X4 18 294 92% 91% 92ft +1V*[ 


27'* 17V* AfiJcmar .36 15 18 370 25 23ft 24k t% 


29. Iff.. AlMEn 


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27ft 20 AJbColAs JO .8 22 117 24ft 26ft 26ft *Vt 
48ft 30ft Albertan .64 1.4 23 3995 47ft 46ft 46% -V* 
40%26%Afcffli M 22 15 4877 IT* 26ft 26% -ft 
2ff- iff* AknM J4e 1J .. 1470 26% 24ft 25 +V» 

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31ft 25ft AlqEnOy 1.72 £5 15 1181 31W 30ft 31% +ft 
32’* 21 AUegTadv J4 2J 14 S2o9 25% 7W, 2SV* +1U 
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30 It AlienTel _ 18 14631ft* 17ft 1Bft.lt. 

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17ft 13U ASWrid 1 53a 9J .. 64] 16% 16V* MV* +ft 

U lift AJWrM21J2nl0.1 _ 3511 14V, 13ft 14V* +k 
69 40V, AQTch _ 18 124 56ft 55 55 -% 


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31% 21ft BrVStl Z82e 9.1 4 8921 22% d21 V* 22V* -% 

80ft 57ft BrHTef I1.15BI4J 16 2»8 78% 77ft 781* +% 

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lift 2 Brake jo 30 _ 192 low 9ft lo +% 

15ft 9V* BwnSfi _ 23 m 18 9U 9ft +U 

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20ft 13 BrnnGp JQm XO _ 663 13ft 13ft 131* -ft 

385* 25ft BramFr Ji 11 26 8482 3&U 35ft 36% +ft 

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38% 70ft FrarijCo* _ 13 89 27% 22 22% -ft 

]«% 9% FrfcEPb _ 22 172 12V* 12% 12ft +% 

11% M* ftkMM J7o 7J » 102 I Oft 10% 10ft _ 

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37 16k FMerwi _ 26 3079 34ft 33% 33ft 4ta 
44% 26U FradMqc JO 1 J 23 7330 42ft 41% Ajft +% 


14ft FMCG A JOm 1 J 11 2101 14% 14% 14% -% 
3«? »ft H«G» US 7.9 _ 266 23 22ft 221* -Vk 
33k 23ft FJKKlS Ule 5.1 _ 156 23% 23k 23k % 

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3» 18ft FfTtfrtn*. J8 1 J 12 2773 22ft 21% 71% -% 
Bft FtuBL _ 15 1312 2Sft 25ft 25% +V| 

21ft 12k Fum Bnis _ 18 1858 19% 19k 19ft +Vk 
II u w Fwni Jl 5 18 262 19k 18ft 18ft -% 
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XU 48ft KmmtFpfXBS JA .. 270 52ft X% 52%+% 

48U 36ft KN Eng/ 1.1 2t 2J 21 1999l4U%48k 49ft +2 
42ft 34k KPN 150* 17 549 40ft 40% 40k -W 

33k 29ft KU Engy 1J6 4j 18 442 *39U 38% 39 +ft 


9ft 5ft MorgriP - - US 5;-k ,J% -M 

18% 12ft MSJ*ka 151*116 _ 13% 12> 13 £ 

13** 7 MS Asia JM 3J - 5397 7% 06ft 7 -W 

59ft 32k MSDWD 56 15 16 8OT4 54W X%54 +% 

l«W 11 MmSEm J»+ A3 - 2472 12— 12U 13ft ♦% 
15W11U M5EMD1J70 A7 - HB* Iff* 

26% 741* MS H B842.10 8.1 -. 94 25— 25— 2Xj +W 

17ft 12ft MSGferiri Ule 9J _ XT 14k 14k 14%+% 

16U 13V* MigSHY 1 J2 8J - 169 16U 16% M% j 

14% 7% MS IrsdSu - - 2X1 M* nk 7ta + 

XU 1 7ft MSflnM .lie j 4 _ 78S 24U 23ft 24ft +U 


76U 75U 76k +1 16U 13ft MigSHY 1 J2 8J - 169 16U 16% MV* - 

7ft 7% 7% -ft 14% 7% MS IrsdSu - - 2X1 M* l*k % 

UU 111* 11%-— XU 17ft MSRttW .14* j 4 — 785 2411 23ft 24ft +U 

24 to 23 -ft 12SU 93ft Morgan 3.805 3J 15 4387114ft 11AM.11S— ■% 

9ft 9U 9U -k 56W 49U MorgnplH 131 6J - 1100 SS>k.55Vi SXU.*— 

•47% 65U 66?* +ft MU 8W MantCnud - 18 189 9— 9J* 9M - 

46 45U 45—+% 7U 2k MarrKnM - - 364 3 2U 2— •% 


*r-r 


5ft 2k NtamRsI J7j - to 418 MU 2> 2% ♦% 
35W 28ft Mortal Id n JB 15 13 173S X— 33% 33% -% 

13k 3 Massimo - _ 652 3ft 3l» 3W -U 

28ft 7%Mofi«*Pwr - 21 498 21W 20% 21k +% 

90V* 54 Mrriaftla 48 J 3230677 591* 57 V- 57—.-% 

56 36 Muetartnd - 16 lSOOeJTft 52— S6%»)% 

V4U 12V* Mutant JD 5.9 - 1S4 14% 14,1. MW - 

10k 8— MunW .62 &l - 164 10% KU* IOU „ 

9U BV* MIOT 57 6J - 388 9 8ft 9 

9k 8k MIOT2 54 U 264 Vi 8— |U +U 

9— BU MulT 54a 55 — 410 9ft 9% 9% _ 

TO 8ft MaXJ 54a SJ _ 514 9% 9V* 9ft - 

9k Bk MulT3 51a 55 - 343 9k 9Vi 9% +% 

13% T1 MunPrt SO tS - 165 13ft 13% 13% j 

9— Bft MuPtT JSO A2 - 457 9— 9— 9U - 

17% lOVi MunlFd J9B 5J .. 426 12v« 11— 11— 4 
16k 15 MunBiCAn. 9466.1 - 277 15— 15% 15U +k 
16 M—Munaddn .93 5.9 - 243 15— 15ft IS— - 

13ft lift MFLFtf J7 SJ _ 379 13% lift 13% -% 

14% 121* MunM JS 6J> - 312 14% 14% 14% +ft 

15ft 13U MuCAbB JD 55 - 295 15% 15% lift +Mr 

U— 13k MOCA2 JMa 55-180 15% 15W 15U -W 
16W MW MimFL JHO 55 - 147 IS— IS!* 15—+% 

16U 14ft Munytd .Wo 5.9 - 2S8 16U MV* 16% *% 

15— 13ft Munlns ASa 57 - 344 is% 15% lXU+% 

15ft 12ft MUHY3 J3a 55 - 167 15V* IS 15 - 


- - 652 3TV 31* 3V* -ft 

- 21 498 21ft 20% 21k +— 

J 3230677 591* 57 V- 57—.-% 
_ 16 1800 a) 7ft 52— 56%.)% 
.9 _ 1S4 14% Ml*. MW - 

,1 - 164 10% IOU IOU _ 

J - 388 9 8ft 9 

J - 264 8k BU*. BU +ft 

jZx0 9ft9%9—_ 
3 — 584 9% 91* 9ft . 


16 8ft KnoAl _ 29 1082 9ft 9 9% -ft 

6% 3ft Koneb - 18 464 4— 4U 4— +% 

29— 27ft KOyPL 1.62 5t 22 9256 29V. 28V* 28— -U 


35V* lift KCSous .16 5 M 1961 29ft 28ft 28— +k 

23V* UU KoutBH JO 1 J 17 636 21% 21% 21% -W 

34—2041 Koydon S JS 1.1 19 450 33% 32— 33V* -% 

12ft 7ft Kaflhiy .13 IJ 89 164 Bft Oft 8ft +% 

50ft 32 Kaluga & .90 13 30 21-15 49ft 48ft 49% «T% 

38%19U Kaflwoad M 23 15 1X9 28ft 28 28% -% 

7— 7ft KmpIG* .66 87 - 552 7ft 7ft 7% _ 

lift 10 KmpMI .87 BJ _ ITS 10ft IOU 10% - 

14— 12ft KmpMd 37 6.1 - 144 14% 14ft 14% +% 


55— 33ft KenttmO 58 IJ 18 5X 53U X— XU -% 


22k lift KCaia _ 16 249 14k 13ft lift -ft 

42ft 19ft KantEl - 20 3145 21% 19ft 21% +W 

75 55ft KOTMc 130 79 16 1X7 64ft 62U 62—-— 

13ft 8 KeyPnJ _ 11 525 10ft 9% 9% 

73% 47ft Kqicarp 148 2J 19 2S0C 72ft 71W X— -% 

35%26W KeySpon 1J6 4J 15 1099 35ft 34U 35ft +k 

15k 7ft KeyCon . - 10 103 n— ilk n— -% 

28ft 22 KHnnrfiD 1 55 SJ _ 1731 27— 27ft 27W +% 

soft 43U Ktabcan .96 LO 1911069 48% 47ft, 48% +T 
36% SOU Ktmoo U2t SA 20 402 34U 37U 34% +U 


29ft 15ft GVemani _ 

2BU 16ft GfenHT IJ ._ 

MU J7W GUmchRt 1.92 83 17 776 Xft 21%. 21ft - 
Hft Mft GtanRpffl 231 9J - tM 2^ . 2 4 % 34ft - 

^ 12ft SSwi 1J7 93 - X3X 13% Wta iSS _ 
22M 15— gataodt . — * - — 1868 16k 16% MM +k 

36—171* GtabM - 1114309 25H 23V* 23% -1ft 

15k 12% QobPartl J3a 10.1 _ 304 14% 14 T4%+% 

36ft 271* GafdS 18c - M 3032 33 34% 34%+% 

96 58ft GhtWF JU J 16 3084 9SU 93ft 95 +1% 
1U W GoodrPU - - 164 1% 1 1 -% 

48k 35ft Gaodidl 1.10 L6 10 9483 42ft Xft. 42 +% 

71k 49k GaadycvlJOr 1 9 13 2259 62— Xft 62% -ft 
2? £!S S™* ??, A ?? 77k 78% +% 

39— XU Gram AM IJ 14 86 36ft 36ft 36W +% 

1X4 8k GrtanH _ _ 792 16W 15ft 15— -% 

99U 70W Gtangr 1J» 1.1 22 675 96— 95% 96ft +— 
17% 9 GrttCara _ - 1730 13ft 13 13%+% 

28—27 GmdMpfLSS 8J - IX 28— 28% 28— - 

3* Oft JO 1 J IS 298 28U 28 28% +% 

54W XU GlUtCh JM IJ 12 1664 44% 42U 4314+1% 

19— 15ft GtLkREnJOa 11 _ 237 19ft 19 19k +U 

23ft 13% Giarina 362626J _ 661 13ft 13ft 13ft -V* 
26U 17% CMP 1-10 6J) 10 480 18% 18% 18k +% 
SOU 19 _ CreenTlF J5 1 J 920088 2SU 24U 25% +ft 
18 BU Graanfar 24 IJ <7 991 17ft T7U 17V) ft 

Xft 45U GmpIBn 1X0 IJ 71 967 71% 70 7\ +ft 

17 11 GmanwSI J7o 6X _ 3fl 11% lift 11% _ 


L6 25 3884 47ft X 47%+— 
1 J 12 IX 26U 26U 26% ft, 
4J 28 802 27— 77— 27ft +% 
8J 17 776 21ft 21%. 21ft - 


61—1914 Cdtfber JO 
XW 26ft CollGan 28 
27 17 Col mot JO 

Sfa-SSS JO 
33%2*W ComdnP 1.96 
1 ft CmpRg 
59% 39ft Comp^p s J41 

feesss? 1 


27 9119 

3410790 97 


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1 93V* 97%+TU 


27W 22W Amertgoi L2D 9J 23 755 24% 23ft 23V -— fU? „■» £ 14 £2 6W* Mk «k +% 

T+ ' . AmntqTc _ .. 1305 % — U _ J JV* 9— CopSeriLn _ _ 834 lift 10ft 11 +k 

eXtaXn, AmeilSR; - 29 967 55 S3W 54%. +1 l sv * JU CapMTr _ _ 485 IOU 10 IOU +k 

84'. SSW Anwrikti 126 16 21 9224ufc 83k Bffft ,1% 3* HU CnpMAC X8J20MK34ft34%34V* ft 

26 21** AnuttAn 24 IX 17 875 ,25* r 25 25W tin HV. gk Caprtv _ _ 1030 Xft 32k 33V. +k 

9? JJ. Amoco L80 34 15 6745 84% 83— 83ft +ft ®^t LftJlL* 7 6X8 20d 18k 19 -1 

S*"»X'i AMP 104 L6 X 9975 JOU 39% 3*ft ft 19U lift CapMpJBl-26 88 - 280 Iffhdllft 14k -»• 
56' ? 20' i Amptml _ 31 175 53U X S3k +lk HI* 2 , ** 1 92t 7.9 14 741 24ft MU 24ft _ 

AmSoSti i 1 200J 20 147853W 52** X -ft SJ? HJ* ft? ? #**-])! “■? = r 

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roir 8‘* AmmvJ JOe A4 14 51 B 9U 9 *i 9fti _ ^5'*!'^ Cirtmr^ - 46 8*0 38k 37% 38 +1* 


?6'i 50*. Ana dr* 
W— 20ft Analog 


JO S 15 7051 60V* 58V. SV4 % 
2612996 27ft 26V. 27H.I%| 


: AntaxR 10J 24 18 4512 X 42V* a +— 

19—12 Antrter .. 18 649 lb— Iff— 16 .1% 

25'. UU Ann To, l _ Js 434 13ft 13h 13»ta -V. 

13'r 10 AnmUyn J2p _ .. 481 low IV* 10ft -A. 

5B'e 40' 1 AonCps 1.04 IB 50 1997 57'* 55— 56ft +1W 

45’ .X'r Apod* 78 .9 18 4498 34*. 22— Hft -1 

38 ?S': Apllitv 1 85 5J X 1407 3ff. 34W 34% -ft 


3 lk Cartyte _ 4 308 1ft 1% 1% -ft 

35ft 23V* Cara* - 14 407 28ft 27— 28% +% 

54U 31k CamjCp JtOf IJ 73 3722 X— 50ft Xft tft 
41%32k CaraPw 1.941 A6 16 imaOVk XU X +— 
52% 34ft CarpTech 1J2 73 13 541 J9k Xft 48— -% 

X%26k CrarAmR 1.75 5.7 29 1052 X% 30ft 30U -ta 

IS 6% Carson _ _ 454 7 6ft 6— -<* 

MJVI14V* CarsPIr _ 21 360 491* Xft 48— -V* 

1— 12U CortWal .16 .9 30 334 17 16ft 17 ♦% 

72— Xft CnjoCp JO J 12 XX 59V* S7ft 99 +% 

13ft 7U CashAm JB J 21 569 13 12U 12ft +ft 

6*. 2ft CalotU _ _ 1164 5ft 5*. 5ft +% 

60 25V* Cat MW _ 33 283 47U Xft 46— -% 

32 10k CateHB _ _ 2094 19 18M 19 +% 


toiofslwT ^"iT £Lg s ft s xi^x2“Si; V tul 

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Z X5 iou io Sou tu !£!! R22IP l A ^ ’2 23 DV1 23 

20 2002 34ft 34% 34V* d* 7X4 DnOt 3J8 3J 12 S550 97% 96U 97k +ft 

1030 33ft 32k TO- +k 35 1787 54W 53% S3— +% 

7 6488 20 d MU 19 -1 ’2! JH 1-1 19 m 28% 28ft 28ft ft 

_ ^ dllft 14k J5* Draw _ 14 179 9W — 9k ft 

14 Ml 2X» 24U 24ft 2"22L -76 1.9 22 5850 40ft 39 39ft -ft 

TIB 24% Mft 24— ~ -2y* 5! EMH9 -® 1 H — 959 9ft 9% 9% +% 

40 3X7 70ft 70 70% At !23?“ S* X8 6J _ X8 W— 10k 10— +t* 

46 «a Sk 37% +-5 JgJi ”» M 63 _ 292 1 Ok IOU 10-+% 

'2 S -tt feu. 2J H 30V 56 UX Sft ^ 


47k 27 CtPfkOl J6 IJ 19 452 42— X— X— -% 


15 U—ApccUnn ,04p , _ 668 14V, 


34° . 13', Apldhvdl S J8t IB 19 174 26'* 24— 26— +1'* 
6V-. 11'- AppIMg _ 3 7296 I2W 11% 11— Alt 

«* 38 1 .■ AjHdPw .17 J 72 1445 *8—68% Mft +ft 

TO 1 * I2>. Aprta _ ,. 2125 IT* 13k 138-. ■% 

59i» 3Z ; - Aptar 32 A 21 777 54 53% S3% ■*, 

33" ?Ji. Aquom lAJ 4.7 1* 300 X4— 33% 34*.+lft 

22*. 13 Amour t IT. !J . X5 13— 13ft 13’* _. 

19‘* 6’j ArcadaFn - - 67TO 6"» 6<- 61* 6. 

30'i 23’, AiUtCoal M 16 72 23? 30". 29>l 29ft ->>'* 

2X*16'. ArohDan 20b 9 24 7126 21— Xft 21ft -% 

32', 2J 3 * ArdcnHIt 1.60 55 21 1083 29' « 28>fe 29 +ft 
2X124 AigPtprA 155 2B _ 276 B 246+24—+% 

lb" * IO 11 “AigciriFd 33o 7 6 _ 407 12ft 17ft 12ft +ft 

5>, Argosy _ - 341 3ft 3ft 3ft _ 

6ft 3ft Ararat _ 10 1453 4— 4ft 4ft _ 

75ft 61”. ArraWI 1.76 2J 14 MU 74— 73Vl 74h.+% 
36 IS* AlTC*eiI _ 21 5072 33 32 33ft + — 

Xft 21 Arvm BOI 2-5 13 610 37ft 31W Xft +U 

34'. 21 A.Arram BO 36 6 56*6 27%d2T. 22W +% 

is*, e" Aybanii J7e 4.1 . X8 9'. B— 9 


40k 70 Ducanun 


5850 40ft 39 39ft -ft 
959 9ft 9% 9%+% 
918 K>— 10k 10— +U 
292 10k 10ft 10—+% 
764 XU 30 30k -W 

30156 57ft 56ft 57U +1 
640 32— Xft 32 -W 



% J? Si 5Sl+% 


5— !s% HJ* +4 
KNSJ 13% - 


379 13% lift 13% ■% 
312 14% 14% 14% +W 

§ 15% 15% MW +W 
15% 15ft 15M -W 
IS— IS!* 15—+% 
16U MW 16%*% 


'-♦I 



15% I3U MunPA JUa SJ - 102 IX* 15 15 +% 

14W 12ft MunQHy S3 60 - 767 14% 14W 14% - 

ISU 13 MunQQ J6a 5.9 - 284 IX* MU 14W +W 

62— 43 Murad 1 JO L6 17 437 54% 53U 54W *ft 

8 U — Muwld . . 1436 6% 6Vt» 6% +U 

29ft 16U MntRfcA* JO J 25 1463 28% 27W 28%+l% 

SU11V9 Mjrlan .16 B 31 4996 20ft IWi 1XV. +W 

■” 3 W 4723-4&W 'J5% X rU 
36—2X1 MBCrrapf 1J6 73 „ 154 26% 26 26 

Xft 2X* MCRQ) - - 4435 29% Z7ft 28U -ft 



.. „ ... 1521 5J 20 402 34k 3JH 34% +W Xft 251* NCRCp _ _ 

■ 418 13U JGndME*LOO 5.9.30 97 34U. 33W.J4W +W . 24ft Mft NGCCp JH 3 25 
' 37—34 •KJngWd L00p~L5 15~TX4*5BU 57% -S7— +— 47% 38 NIPSCu 1.92T 4J 16 


57—34 TGngtVd 2JXU 3J 15 T«74*58V6 57% -57— +—. 
7ft Ift Klnreug - « 312 3% 3% 3W „ 

21 U 16ft Khby ■ _ 19 1X19W 1BW 19U _ 

«* 7% KBAust J8a1d2 - 257 7U 7ft 7ft _ 

57ft 35k KntaMR JO U 14 1522 52% 51% 52%+— 
34% 17V* Ktaan _ _ 338 28— 2BU 28%+% 


lfl« 8W DtaPum JBa 7J _ 4549 10 9—10 

MW 12ft DufPUC 1.18 8J _ 750 14% 14 14% .. 


61ft 36k Catami TJX) LI 11 7345 09 
17W 9W Cawrirn .12 IJ 8 485 10 


18M 19 +% 
X'U 48k +W 
9A. 9— -% 


17W 9W CawrirH .12 U 8 485 10 9— 9— -% 

Mk 17ft Certoif s IJ8 SO 17 174 2S*t 25W 25ft -k 

33A.19U Cendant _ 3920122 32— 32 37'. -— 

37V. 28k Centra Pr 1.75i SJ 25 98 33— 33ft 33ft +% 

25W 24U CentPpfALl? 84 - 91 25V* 25% 25ft 


«ft XU MaBrn L20 AO 21 5W9*S5— S3— 55W+1% 

25 17W DtamRPs IJOt 54 23 701 H— 27% 22k -% 

30ft 23V* DunBfd J8 L9 16 3023 30ft »— 30% +% 

26k 24ft DuqCoppI LIB 8J> _ 106 36k 26% 26% _ 

28 9k Dycom _ 17 850 33k 19k 19k -1 

lift 6W Dyertag JM J 12 *4 ilk Ilk ilk _ 

55 37 Dynoledi 2625517 47ft 46ft 46ft r«ft 

15k 17k DmestCelJOnOJ 10 698 13—13— 13k +— 
9% Ift EAlndss - _ 1124 6— 6% 6ft +U 

BW 3k ECC lot — — 486 316 d 3ft 3k _ 

12k 7V»EEXCp ... . 2253 9% 8— 9U _ 

24ft 18 EGG 56 2.9 32 1243 19— 18ft 19W »— 


17U lift Grtlfon 
13— 9ft Groupl p 
15—13 GpAUnrn 
17V* 4k Graupe 
37W 30— GDanonan 


- 341 11% lift 11% _ 

14 15X 15% 14— 15% +U 
_ 133 9U d 9% 9V* _ 

- 3432 (DM ISU 16W +W 

- 193 6% 5k 5k -ft 

_ 235 36V* 36 36 -W 


17—12 GtaSpi 1 J7# 9J> _ 182 16V6 1AW 16k _ 
25W 15W GCAutrey .16e J - 176 20 19— 20 


14ft 6W Dyenbg 
55 27 Dynatedi 


3 2! '3! Mb -1 - Ip to 32% 32 % % 

X4 2W GFnSurl _ „ B84 2— ZW 2W -% 

20ft 13W GMMKDJla LI _ 321 Mft 15—16 -W 

3 W GMraDrs _ _ 491 V* % % -% 


15k 17k DninCti 
9% 1ft EAlndss 
BW 3k ECC lot 
12k 7%EEXCp 
24ft 18 EGG 


17ft 6W GpoRorfia JOa 23 77 IX 13k 13 11 -k 

40U to. GTtaevsa B7 J .. Z3« 37U 36k 37k +ft 

-3* St GTribraq _ _ 2273 4 511 1 +6 

37H 28V* Gtadr _ 16 1942 33U 32U 32— X 

S3? !£* ^£9 <5 - 259 13— 13k 13U +W 

77ft 78k Gueef JO* I J _ 3772 40ft 39— 39ft -14 

Mft 7 G«J*51_ _ 6 488 7 d 6U 4W A* 

!]?* «5S . _ 34 138 12 11— 11—+% 

69W 26W GlWt JB .1 6011920 59k 54 58k +4U 

28k 17V* GuttfordS 44 1 J 15 338 Z7k 27U 27—+% 

Tft* ratOto 9 - _ 9831 6— d6U 6V* 

2JU 1916 G uaindo n > 953 ZZk 21% 21%-1% 

HU 21k Guffjtrrn _ 10 825 27k MU 27% +% 

V9W 13W H&O HO 1J17B 7.0 _ 611 15ft 15% 15k +% 


7ft 2U EKChar .13e 4J 15 216 30 2ft 1 •% 

HftlSft EMC, 2636083 26ft 24k 24ft -ft 

i? 1 'ift M 132 56ft 55ft 55W +V* 

25Vt 24ft CentFnfALlZ 84-91 25V*' 25% 2SU -ll S??™ 2X4 SJ 16 135 39V* 38ft 38ft -ft 

2" Is* 85? » “ '3 I® *% Su s% +% a. ss gifi" *0 j s sjs t si ssl-’S! 

66 33ft Cental JS J 15 1141 62ft 61ft 61— +ft tT* i Ftr io S rSwjSu. !?£. 

26*. IS CenSoW^l.74 64 2312362 *27ft 26k 27 +1 “ K ’SSSff* 1 58?* S 

36»i 15ft CenlEur 3X6o A „ 429 17V. 17 17 SI? iff P™! !■** 64 IS 710*24 2516 26 +— 

W* 26 CHUCprB 236 85 _ 131 27ft 27ft 27ft*>ta M li 322 SS Su* £ tt 

i coftHud 2.14 w i4 i37iM0M[ jQv* mu* 4.1% S5* 2S 4 &F , S5 m 2*2 W.lftK s 7 ' 1 53 +14 

XU 24St Con LAB 15B jU) 15 2S5|JUt 3CB* 3|hrPi .Ji! 1 ^ J® 2I121X 58^»57M» 57H 4% 

u’.io Oflin* m to m SSlSJ* Si** S— +?5 gS! 'SH ?S £S S2^ £X US." 1 !? 


40ft to GTeWna X7 J 
7ft 4k GTribaai 
37V* 28ft Gtedl ' _ 

25V* 10k GuangRy JOe AS 

77W 28k Guaf JO* IJ) 

14U 7 Gu*» 


75V* 36k KatriS _ 39 2506 64W 63ft 63% -W 127 64ft NACCO 

20U 10W Kotawr JM J 8 562 18 17% 18 +ft 

OT 1«* K«ir 5ft 25 10 273 JI— lift 21ft +ft 

22ft 7% KonaEK JOB 25 _ 6422 10k 10k 10ft -ft 

7k 2— KaraaEgt _ _ 993 3 2— 2— — 

17W 5W Korea - _ 8616 6W 5— 6ft -ta 

9 3% Kotealnv _ _ 5S3 3ft 3% 3ft - 

20ft 15k Krone 1.92 9J 26 608 19ft 19k 19ft +V6 
2Xta24ft KmrtZ pfD2J8 9 A _ 220 24—2441 74— -% 

37%22ft Kroger* _ H 5324 34— 33U 34%+% 

38ft 17V* Kirilin JO IJ 23 738 36k 35% 36k +1U 

171 87 Kyooer 1.03a 1 J _ 104 SOW 87k 8714 -2k 

30U 15ft LQ Wt _ 29 3290 29ft 28% 29% +1 

9% 8 LECGn _ _ IX 8% 8% 8% -% 

HU 21k LG&E 1-191 4B 17 845 24ft 24ft 34— +k 
5ft 4ft LLE Ry -57*15.1 9 763 4% 4% 4% +% 

27U Z]k LNR Prn .05 J „ 662 21k 21k 21%+% 

Sk 3ft LSB Hid JM U _ 154 4 3— 4 

46U l«ft LSI Log _ 1915557 21— 20ft 21ft +h 
7JU Ifl* UTCPra IJ6 7X 17 236 2SJ— 20— 20k -ft 

25k 24k LTCpfB LJ5 93 - 287 25% 25 25% -% 

’4% 9ft LTV .12 IJ 30 4792 9— 9% 9% -ft 
— % LTVwt _ _ 290 % % % _ 

24ft id LaQutato jp A 19 3917 19% 19 19ft -ft 
44ft 2X4 Qzjtayju 2J> 17 145 42W X— X +ft 
36W 26 La5aaeRBL84 8-6 6 466 33ft 33 33% -% 

32ft 16ft LcbCWte jaw 2J _ 304 20k JOW M— +% 

* i V » L SS?.. - - 7636 1ft Ift lk +v* 
snt a LflbCrpM 2J4r 4B _ 623 46ft 44U 46ft +2U 
KVn-JOk LodGm 1321 5J 14 227 25k 25 25%+% 

W«l9ft Lafarge JBf 1 3 12 1188 28k 27U 28%+% 


17% 9U NLlnd 

E?l sF" 

4BU 36. NOOUH 


JB * 


_ 17 
1B7 75 _ 
■98f 3.7 IS 


17— 12ft 12k -% 
15V, IX'. 14% -% 


46U 18U LSI Log 


71 ft MU LTCPra 
25k 24U LTCpfB 
14% 9U LTV 
— % LTVwl 


26% 19 NUI , 98f 3.7 IS 603*261* 2S?V 26ft +% 

,4BU 36, NOOUH JO 14 35 3198*41% 47% 47W +% 

BBBMff :: V* 

2B M 5571 65% 64U* JM 
£2 5£ H2S 30 2* 1202 34— 32— 34V.+1— 

£**£** '1*. 3J 16 73S*47W 46% X%+— 

35 28 NatGtaf 172f 5J 28 478 33 32W 33 _ 

as “ - - * ». a 

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1 ®? .+, a S? » JSL^SL 

5Vfc N Stand _ — 14S 4 FW 4W 

^ 7^ NOJBI1. -• 3 1044 lift 11% 11%.% 

^ H255L A , 15Z J-S - H l J4 ' 11 h— mm+% 

’SS S W»DgL-ga 4J _ 830 9W 9% 9% -% 

Bft 7k NatnG*03 56 65 „ 217 Bft 8% 8% _ 


feking Ahwxwl JC 

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Bft 7k NatnGvOS 56 65 


5— 1ft LakflnrE 
im 12ft Ltadtown 


- _ 928 ift 4% 4% _ 

_ 54 909 13W 12—13% +kl 


H ,430 ”i «% 59% 59— ♦— 
52 ?S? EKun 5 "^ A £13 36ft 37%+% 

»u T KSSL 1J * 44 J2 iff 2 4N - v * 

jL 5*2™^ - J5 24% 73*. 24%+— 

iS? mI HSSr « ,1 iS 'J5 J 9 ! 4 28,4 2*% *ft 

iff KS>T -M U 17 235 lift 11% n% +% 

HS! UU - 12 X8 13— 13% 13% +% 

3 nL 1 Sk ' S H '7 2S23*25k 241+ 25ft + 1ft 

Xta^aT* KSS!Sln,*i J? « ’ill SA *** SAta+% 

SS »Si"S « 8 .SSI SL 


33 LatdMP 3.12 7X 14 248 44— XU 44k +k 


16U lift H&OLf* JOB SB 
2W4 12ft HA LO _ 


_ 511 15ft 15% 15k +% 
- 128 12— 12ft 12k. -k 
X 363 25% 24k 25 +1 


8U 6 LamSea _ 
38W 25V* LandtE 
38% 27ft LaSatkP n 
14—13% UnrMrt n.ISp _ 
19 12% LotAErp IJSallB 

HU lift LotADta L0061ZJ 
21 13ft LotAlnv 2J3D16B 


36 225 6ft 6ft 6U - 

18 9B3 34W 33k 34ft -M 

- ,419 34k 33k 33U +ft 

- 1*72 14— lift 14ft +ft 

- S2 14 13% M +V4 

- 532 !6k 15k 16k +k 

- 516 15— 15% 15— +ft 


56 39'. AkriDtrd 1 10 J I 18 5014 SK. 50', 51 W » 1 % 
13ft 7'i AkaPe 94+179 .. 2353 7A.d7W 7% .%| 


5>, 7 Apapn . .. ;x 2> • 2 2V. » v. 

171. 9% Aria Pip OSp . 13 SIX Iff. 9W 9 r * -% 

11 "• AvaTmr Olo 1 - 3831 7% 7 7 -U 

22" IS'* Aletlrn, 1 00 67 t M2 2I‘% 19H XF* +1W 

24 W 71 ArdErtal 1.84 7B 71 548 Mt. 23 W 24 +% 

•O'i XL AKFCap m A It 13S9 69 40,. «'* *% 

M^.IT. AslinAl .1% 1.1 , 2448 16** 161* 16ft •'.* 

If* lSI.AtlmB, .19e IJ .. 90 16% IS"-. 151. .,« 

22' , 15' .AIcnCM - 9 273 16'. le 16 ■% 

21'iM AKmg 154 7.4 13 14)0 71% 201 3F* _ 

62L. annua,, 2X5 3.7 14 4806 774. 76— 77 +1 

47'. 19". ABbiAir . 10 267 241* 23V* 73% •— 

281.22'* ATMOS 1061 16 36 3D3*2?W 28V* 291* +!» 
6t‘. :s>. AtadOai, - 36 249 *2+. 4V . 41» • -U 

II'* 8 1 .Arnrr 13r IJ „ 177 I ov. Iff. I0v. +% 

14— IOU AirihRl .05 J „ 714 lta. 17— 18% vft 

45"; 32 Autoliv a X 1.4 . «l 32<ftd21W 31U -1% 

33 71'. ACEiTm 155 7A - lilt ZTW OW* 20% -1% 

5EC. 2917 A'ltoDI 531 .9 31 4770 56— 5ff-> 56% +11* 

32—19'i AUbZone .. 22 7704 79 78 29 +% 

31ft 26'. AvalanPrl564 5J 27 1161 30V. 30 W . - 


TO 1 * 42 aiNta B4f 1 J 74 748 69W SJ 68 <* +:* 

44 W 15W CofriPtrgs JM .1 SS 296*45% 44ft 44*. +% 

15 10ft CVtPS SB 59 9 511UI5W 14k 15 +ft 

48 35U CantB* I .OB 1JS to 107 66 — 66 66 — 


ta'i XL AKFCap 40 A 
IO—ITi ASImA, .1% 1.1 
1*’* 13—ArSroB, .19e tj 
H'< 15' .AIcnCM 


15 10ft CVtPS 055 9 511 lllSft 14k 15 +« 

48 3» CantB* I.OB IJ to 107 66 — 66 66 — 

49%»6, CnlyTl J7 A IS 1001 48— 47ft 48V. +W 

47k Cendton _ 19 1299 46% 45k 46V. ♦% 

21k 13V, ChrapE - 14 011 20V. 19— 19— +ft 

66U 41ft dtankl JO A _ 3641 43— 43'* 43k +% 

76V.11 Charts JOf IJ IB 113 23ft 23W 23ft - 

36W 24W ChmtwKe 16 J 11 1B3 31k 30ti 30U -U 

25 Vi 25 OtuCmn U4 7J _ 270 25U 25V. JSVi *U 

26%B4ft ChawM 2J8 2J 1218335 1UW 105— KU— -U. 


Xk 29W Ceridtan 
2iu 13V, chmpE 
46W 41ft Chmn hi 
26V. ii Chart i 


389.HW Echln .90 25 17 9850 36ft 3S% 35—+% 

5496 34*1 Emiab J<f IJ 27 1379 *5ft* 53—54 -U 

27— 19ft EdNnlnllJ» 3X 16 6129 26% 25— 26k +ft 

10’^ «* EDO .10 1.1 1 113 8— B% 8k +H 

39U 30W Edwards »J2f IJ 14 2771 38k 37 37% ■% 

8k 3J* EKCO - 20 415 7% 7W 7% _ 

64ft 48ft EIPasMG 1J6 2J 21 3635 63k 61k 63ft +lft 

W1 30 Eton - 33 0844 48— 47ft 48— +7k 

IK?* ^ IJ 73 116 24W 24ft 24—+% 

49ft 29% EOS JO U 29 8570 43k 42% 42k +% 

69. 44ft EHAguri 1 JOB LI 29 107ft MU 55— 56ft +% 


32— lB—HCCto .12 A 18 902 21—21 21ft +W 

?S? SSS tlftE. 1 ** *“ » « 53 3»ft MU 26% +W 

18k low HS Rbc _ 18 439 13U 13U 13W ■% 

S6WM4 HSBGrp 140 45 20 519 54V) S3— 53ft +% 

21% 13— Haunion _ 15 591 14U 13ft 14% +W 

Si If* tSSSL* ■ S0 1j0 302SWO 50ft 45— OB -1% 

46k 15 HnnbQu _ 17 334 36ft 36 36W +k 

1X4 9k Hannah JO 2X 21 7)78 14% 13— 14% +u 

13k 12W HonPlGfltl JK 8.1 _ 187 13% 12— 13 +% 


126% 84ft Chrr»M 2J8 2J 1718335 IMt* 105— 106— -H. 
21 ft 29k Ch»M>(C 2 71 8.9 _ 136 30U 3»ft 30%+V. 

26*. 24ft ChroPCpt 2X3 7B _ 203 Z4W 26 26U +% 

24k 9V* Otodwnl XI .1 29 1525 16% IS— IS— % 

Xft 32— ChtaGCA 2 Jtl 73 72 204 37ft 37V» 37— +% 

431* 31 Cttemed J.lZf SJ it 163 40— 40% 40—+% 

38ft 30ft ClwmFU 40 1 J 2 95 2BW 27k 28ft +ft 

36U 37V. Ctapk 80 25 41 406 371. 31— 32W +% 

31k dV.OtosElMlXS 1.1 _ 5257 7ft 7% 7W +% 
09% ilk Chevron 2X3 11 1711647 75 k 74— 75ft + — 
54W 46k CtwnCpfS.19 93 _ 210 53 5TW 53 +Ift 


2lk 13ft EbagB 
91* 6 Etoorrt _ 

27W 15 EAn*iA, .17* A 
17% 13 EMIoatf IJSallJ 
14!. 10% EnaMM X3a J 
19T.14U EMfd L71a233 
11— 7ft EfflMe* .Ufa ‘IX 


_ 204 15% Mft 14ft -14 

X 252 B— 8tt B%+% 

_ 175 STlk 20 30ft +U 

921 lift 14% M% -% 

_ 401 lift 11 lift +U 

- 279 15— 15k 15— +% 

_ X6 10W 10 10 _ 


14k 12k HanPIPMI.M 8.1 _ IX 14% 14W 14% 

ia* !0ft HanPtDX X° 7J _ 97 lift 11—11— 

14ft 7ft HancBT *JM* J _ 3709 13W 13% 13% 

>4— !4ft HanJS 1J0 7J _ 122 16k lift 16k 

9ft 5U Handkn _ 26 2K8 m «t m 
33— 13ft HandK J4 J 12 917*33% 32ft 33ft 

30 19k Hama 451 IX IB 340 35k 25 25V* 

42%2» HanM -54 U 23 224 42% X% X% 

24 19% HancwCn _ - 116! mt 19ft 19ft 


Z IX 14% 14ft 14% +<* 3SJ hS32) 


J&rSs- 53513 
iTiS 1 i-sssrs^ows 

32W 6k LogSohr _ la 180 22ft 21k 22ft +— 
30W 21ft LeeEnt Jdf LO 21 166 ZB — 28k Mk 
»» 28W LegMdialJi X 21 628 Bft 50% raft +3ft 
SS 'AgFA* -56 1 J 30 810 Xft X X% — 
SAW 28V* LrtwiBr 34 J 11 3586 50 X— 48— .14 
2M4 24U p*Bril5 203 8.0 _ IS9 26k 25W 26W -% 

« [235i‘ « i » iff +M * 

TO? To .2?™ 1 £2 « “® 788 33fc HU 33ft +% 


JD J 8 289 32U 31U 31— _ 

- 17 H62 47% 46ft 46— +IU 

- - 7946 15V* 14 M— 

- la 180 22ft 21k 22ft +— 
."** “ S 'SS 38— 28k 2Hk 


S SS Jyfi ' 3 H53*4J% X— X— +— 

2? M IW I?W 28U 28W — 

Jinaua Unosna -SS© 2.1 „ 229 MVu MU iaia JV 

26W 24ft KiEaMDnMt 73 Z 350 26 Mft K— — 

SJE'SS. H I 9 US4 25ft 25% 2SV^ _ 
391% 10 Vi NY Bcps io 1^ 21 2&S Hi* 77 77 *ia 

66U 3ift uv^ii jm li S'? 34ft VS 

ssffl M 9 " -a ii c 3 SSi -ft 

rj lAil ESSw., m l- 5 H *%?. to** XU tU 


tf u i iii w r 

. Vfm-m 

* i»;9B 

- =f*—V 

— -U - 7*.illa 

- -4W> 

-Ki t *rnkm %. 

4^1 # 


H ™ ,T II tot 71% 31 31—+% 

49 iS* KsSS '-f 12 S2 EJJ 27 sm +w 

XU Bang..-!* 1 A . X 79U 28k 28W +ft 


HU ^ m!22S« J 12 " 1 A S 52SS ?ff 28— 28— +% 


28ft LegMdialJi A 21 628 53ft 50% S3ft+3ft 

lift J* U 20 810 Xft X X% — 

ISVi LmraBr 04 j 11 350* 50 X— 48— Tft 




M*h vi io" law I5*H -Vtft 

ii?? 1 m :w 




EraranEl* 1.180.1 H 5360 37k 55ft SSft 


IS PjffiP?!.'-? 8 M M 244 19U 19U 19U +% 

74— 15k EEKWtal.lSo 63 - 2359 17k 17 17U +% 

IF* 10W Eropka .178 1.1 19 3346 16k 15ft I5W -% 

25 17 ELoMod _ _ 20 246 21 s* 30k 21W - 


_ _ 362 2!. 1"» Hr ■% 


27V, 19% ChUoFd 3J0O17J _ 440 19".* 19ft 19ft _ I 
38V* 22k ChBaTel s .79* L9 _ 1533 27k Z7U 27ft +%] 


44'.- 331, AvervO Bit 20 H 1366 X— 47V. 42*. +UI S? ?5I? '■*» 13 - £S J* 5* ??!“ -**• 


44k 29ft EanOpi 
39 26ft Enersfi 


171. at. A«*ta 
38—19", Jvtotion 
36*. 21 '-i Arnsn 
JOV; ss-. A met 
ra soft Avon 

! «i+ vi ArtoT Z ii 2036 i— 6k "i— +% .1?* .ii" E?* 1 ? 0 ". ~ 1 irs 6— aft 6— +% 

Ii*. 8 ArkM OAf 4 14 162 14 IS 1 . 13”. -V. 18" ISJUiChohiH n .. M 657 lift dl 5ft ISV. ■% 

Hftlf BAAlU .. 332 lift 16U 16% +% g’-gftgaS?",™ " 

45 35 BB&T Cp 1 J4 2X 23 1790 6T* 62"* 63». -ft SS ."X ’S.™ SSS'fSi. 

35**32 BCE qi IJ6 - - 39*0 33\i Eft MW +1"6 STJJfS 9"g, r 1^9 fS 3iJ! to! * V ,i 

0ft 7ft BEA Inca .72 83 _ 341 BAk B*. 8*» _ f'J! 1 a !"5 1? 3 ?fS Si. 2S5. 25* 

10*. 9 BEASInriB7a BJt _ 379 10V. Ifllft 10V. -ft 2'W OjDWI M \A 73 310 2*% 28% 29U ♦— 

<"■• 4 BECGp . J6 «8 S— 51* SI* - ii; nScS* " 8 411.42.“ St 

90'. 38ft EUS - 3311322 69— 66Vi Mft -2 25 5§E 5 -"I l 1 . ffil S5 

32 26 BJsWnn _ „ 916 30'. « 29^11 29^ „ tH- S,™ 9°°5P. Wfi 5-2 21 568 iM0 ACM 4TT* +1V4 

35^1 16’x BMC JQ* A 12 «S1 16’H Wl 16*% JV» gjf 175? cSlyf 11 !o }a fS ?SSL ^ 

I9»u 15 BP Pm 2.04012 7 10 408 16^i • ISH 16V, ♦«*. Wf 'J™ .48 1.9 14 1^6 2SMi 24J% 2S 

T3 HPF 1 18 5.1 17 446 27*m 27Ata 77V» *i| ‘ V| * ■ QWO — — 1569 IV* 1U llii _ 

9ft 6tv BRT 9 m. rt 7- 7W +% *1 W ITSS^W 37U 38% +W 

it A— BT mi ia itjc fllw 14k TZt +in 22 8^i OiCCof n +_ v 2673 9Ck B**i» 9k *11 

ZSv* 11'* BWAY, I 17 155 220»r2W 27k +ft XW 28ft OrcayCC 14 J 28 OTvO 34W IX* Mft +% 

21>* 16»r Brriuf LttelSJ ., eB6 18V. irv 18% V. iariS! r wu riS v'* 

49ft 27*1 Bafcrttu .46 1.1 21T0336 41 « 40U -ft '5,. Sir ?5?!E, r-i 2 H 18,a ^5 Ufif, 'SS 


Ayun _ 13 XT IX. 14V. 14% _ 

Jvtotion _ 22 196 34ft H— 34ft +1% 

Aron - _. 3766 33ft 30".. 33'. -i*. 

A met to .9 IS 1072 67— 66% 667. +V. 

Avan 176 LI 23 3SM 60ft 59 59 -— 

Aydbr „ ._ 109 lift in* lift _ 

Aztar .. 11 2036 6— 6k 6—+% 

A.-kM 06/ 4 14 162 14 13'i 13** -ft 

BA Midi - - 3E 16** 16W 16% +% 

BB&T Cp 1 J4 2X 23 1790 63ft 62ft 63*. ■» 

BCE qi IJ6 — — 3990 3315 Eft 33'i +lft 

BEAfatca .72 113 _ 341 BV. 8*. 8>i _ 

BEASInriXTa BJ - 379 10% 10% 10% -ft 

BECGp . 36 m S— 5— 5— - 

BJS - 3311322 69— 66ft 60ft -7 

Bis wn n _ - 916 XV. 290k 29— _ 

BMC Jto J 12 951 16"* 16W I6W -% 


»ft ITU China EAn 


EndansJOeU IS 949 18k 1BU 18W 4* 

Enrgn 1.24 3.0 16 245I41U 40%X%+% 
faiiftoB 1J4» L6 _ 618 44— 44U 44% +% 
Ena™ 1 JBj 5.0 - 391 28% 27— 27— -— 


- - 362 17V. d 164. 16% 


19W UU ChrnaFd 50a 4.1 - 430 12% 12 


36k 12ft CWnSAJrn 
38ft 26ft China Hen _ 

SW 7W QriVlie JO 7 A 


- 1X1 13ft d 12ft 12% -1 
_ 1884 33ft 33 '4 33V* +% 
4 144 2W 2W 3W -U 


Bk 4 Vi CnkFall 
1BU IS— ChaioeH i 
45ft 30ft aiolqrin 
SS 38ft OntoCr 


38%3BW CTnyrJr 
78W 51V* Clntril 


Hk 17V. EndCp JO L2 16 2257 18k 17ft 18%+% 
59k 34k Lnfionon .44 X 17 738 58% 57ft 57V* -V* 

lift BU EnllBO A3 63 IB 282 9% 9% 9% -% 

26*% 21ft Enow 1X6 5.9 13 1129*31% 25— 26ft +% 
»U 24V* EimtCfl/T 7XB 7.9 - 234 261* 26V* 26% -% 

MU 24k EnnCpfR XB 75 - 499 26U 25U 25— -% 

45V* 35 Enron JM « _ 7063 4DU 39% 40% ♦% 

» 1W Enron9B 1J6 U . 405 MU 20V* SOU +W 

V 17U EnmOG .12 A 27 4177 30% 19% 20% +W 

X 20k ENSCOS 231X72 X% 30 SOU -U 

28U 22W Entagy 1J0 63 18 7566 28W 27U 28U +U 
2614 24 U EnlGCopf L19 03 - 262 rM* 26% 26k +U 

2SV* 25— EnaXpC LW 8J _ 544e25k £5, 25W -W 

36ft 28%Enrt» IXto 3J 39 152 29 Sk » 46 


SB -fiBSSa»3T‘SBras SSSSS-* 

Eft Horacai JBf 2J 16 615 X 40ft 40— +— L SSf 1 „ - M 1146 57k 57 57k -— 35 aijf KSSi!!. .-= - IWM 11— lift Ilk 

»&&&£ .aSSFisiBssssBwsJi 

32 HortML /n J6 .9 _ 1079 40ft 40k 40ft +H Iff ^ E!*P" *-»2f -7 20 515 16% 15— M “ 23 I? BSSK ’^S H ?° lllft 109U 110ft +% 

5 HMtn _ 9 333 7ft 7— 71* +ft £S,?S! HSS+-."** A '1 324 S3U SS% 53ft +— Sv* 21ft 971 17 113 21*. 30ft 21%+— 

^5 JSKg 2M &J 15 49984M) 39— 40% +U SMf* L *^ TT{l1 * Jj IMS H.. HU ^-Ift {S?? 1 ■* ** Sai3 K a »V. Su jilT — 


19’. IS HP Pro L 040 12 7 10 409 16% 15ft 16% +'.*■ 

33 71'i BPE IS SI 12 446 27— 27*%i 27% *U 

9U 6>V BRT _ 9 206 r* 7— 71* +% 


19W IP* ErrierPTn - _ 960 19W 19% 19% +U 

22W 14k EOHEltg 1.90106 - 509 1X4 17ft 17ft -ft 

34% W* EqrmtDt 35 1 M 24 1369 34— 33ft 33ft +U 

3 Hft EqlCaS JO J 31 1677 49H 49W 49— — 

EU 27V* E$n»; l,ia 34 20 394 33 32% 33 -3k 


15 6 iL .BTOII 
2!Pk II'* BWAY, 


9 306 T-, 7— 71* +% 

16 1325 a— 7— 7ft +ft 

17 1SS 22— ?2ft 27U +W 


23'i ire Boldor* 40 1.7 E 203 23 22U to +% 

39 Ek Ball 40 IJ 19 SS4 35— 35% 3Sk .— 

2S 177, BaBmd .10 J 73 386 23— 2T+ 23ft +% 

E%24»J BatiGE I 64 SO E 3471 eWi K— 33 +ft 

59i» 39U BoncOne 1 JJ 2J 22IS636 44— 54 541* +!i 

38i, 21 BncoFm .60r 13 13 I29S 26'* 2S». 76W ♦% 

30ft 13— Bcohtdl 77 SB . *150 13ft 13ft 13ft +*■> 


IFi 9K BcoRtoPn 
1BW lift BcSanlCh JZr? XL 
r.; 4ft BcoWese Ode 1 2 
27ft 15ft B+oAEdW-Mc 4.1 


- 2125 12% IJv. 121* +W 
_ NO lftl 13U IJ* - 
_ 245 5% ift 4— tV» 

- 941 Ml* IS— 16V. _ 


33" 19** Bco5anf I JM L7 n 167 30W 29% 29t* -k 

45ft 26W BcpSoutJl B8f LO 20 105 43*1 425* Xft t% 

275, i9v* Bandcc - 15 5S3(p.d 77W 2BW+I% 
SJ”, 45 Bandog IIM ZJ) 17 1849*S5ft 54 55%+ — 

53ft 44ft Banda A 1 lot 7J 15 1E1 Xft 48— 49*1 tft 

«"■ 4V* Ban# .181 — — 979 a% 6k 6'.* -V. 

20— IV* BkTakya JWe S _ 1201 13% 13% 1JJ J * 

47"-+31 BtMontgl.OO _ - M3 43ft 43% 43*4 +% 

S8%32'4 BfcNY IJHt 10 2211013 57% 56W 54% -IW 
8t't«J7ft HankAmi 1J7 IJ 1718536 73' V. 701* 72*.-— 
2Wt74 BkAraplZI.M 7J _ 143 26ft 26k 2eft +% 

W* fift BkABA* .IS J 14 558 15». IS— I5W — 

9? B k41"» Blfiosl 2JJ4.L2 17 3998 9S-* 93 9JV. 

133**74 BoniTr 4.00 13 15 3971 110** 117V, 120k tZft 
39 2* 1 1 Bard J2 2J 23 1691 30k 39k 30% +ft 

33— 12 r i BamNIrit - 40 965 32W 32 E -% 

30ft I9 ‘j SamesGs J7 7A 13 1W 25— 2£+ +?. 

74—39 B arnett 12a i.7 7t U66 71ft row m*+i% 

46ft 2A 9 * BaffiflRl _ 28 806 28ft 27k 28W t % 

29W ISft BantdtG .161 9 .„ 9»7 18k 1^. 18 +k 

Mft 9w BraiyOG - 14 292 11 10W 10ft +W 


25% 23U Gtopfit IJW 16 _ 90 24R*i24k 94— Uk 

31%2V* CgnCp JO 3 12 173 28% 2Bft 28ft A, 

17 7k arzUft JSt _ _ 4074 9ft 9k 9— +4. 

2SM 19k CUyNC .44 IJ X 74S 34Va 3d 34V* -ft 

If lift OaSKSIr .12 7 15 9314 T9— 76ft 16W»-l*r 

31k to Ctaroar AM 13 IB U2 30U 29ft 30k +— 

19U 13ft QaytH JB S 17 I5E 17k 16ft 17V. +— 

7SU 31 W CkarC „ _ 3429eWft 74k 76V, *1% 

1CPV. 7V* asm Gib Sin 8.1 _ 210 10 10 10 _ 

47W 40 ayOf 1 JO 2.9 9 383 iff/. X— 45% +lta 

BS 20W CWfadrs + 19 2574 50H 45—46— -2«1 

80ft 48W QofW, 1 J8 IJ X 1683 76V. 74** 75% -— 


25 ft 18k Ei 

16% 17V, 6 
34— 2SU El 
55 39k El 

26ft 25 El 
30k 25ft El 
26VU23U El 
1 9— 9ft e 


, , - ^ MS tobt 21% 22W t% 

1 16 7.7 19 1036 15 14k 15 +% 
1 56* U H 737 E 31 X— -1% 
L68f 5J 99 1592 50ft 49— SO 


pW 2J4 SB 
pfE 1.75 6J 
pfGl.81 7.1 


- 92 26k 26ft 26ft -Vta 

- 118 fflk 27% 27— -% 

- BOI 25ft 25ft HU -U 
18 372 17% 17% 17% _ 


HU 12k EspaSan 60e 3.1 16 3E 19— 19k 19ft 


31U 3» +% 


MV.24W GoodiUS 


- 24 1218 31— 29W 3— -Ik 


30ft 15ft Coachmen JO J 15 1103 2Zft 21— 22— +1 


37U Eft EunxPTl JH SJ 19 164 34k 3«— 34%+— 

sn; » EstoMJr J4 J 32 1865 51W 50 9) .1 

43U »ft EsMta, _ 11 239 34U 33U 33% -1W 

42ft 1BW EtaanAls .12 J 20 855 36— 36U 36U +% 

IOU ,7U Etayl J JSm 11 II IBIS 8— 8 8U +M 

Iff IKto'WJ _ 233 T6U 15% 15—+% 

HW 11 EuiVWFd J6e 4.1 _ 1282 18ft IS ft 1BU +u 

27ft I9W EwnWIh lJQnfi.1 Z3 m Z5k 24— 25 -— 


«u 35U OkOSb _ - 34 1971*48 ' 65— 47W+1— 
65— 43*1 OnUd JO .7 IS 2066 60— S9U 60ft +U 

4k V* CsdPtry* - - S3s — ft — 

20 Vi 9k Cootoot _ 13 687 UU 13k 13— -ft 

aw SIW Cocoa. St A OOSUSS 66— ASM 66— +ft 
35 15k CncaCEs 10 J 67 3604 14% 33W 34 +M 

59U 2711 CCFansa J7» J 55 899 56— 56 56W -— 

1BW TY.Caaur , _ _ - 2370 8— B% BW 

19W Ilk Coewpf 1.491L4 - JSO 12% 12 12 -W 

4SW 28 Cognlcnt .12 J 27 1746 44k d2W 44U+1*. 
XU 25V* CofeNofl " - _ 988 31ft 31ft 31k +— 

low im Cototnn - - 369 16ft 16— 16ft -w 

78—45 CotePUs 1.10 U » 4780 *9-* 67— 69V. +1% 
12ft SW CoUASC _ 2 458 BVfc 7ft 7— -I* 

3SW law CrtBaps JO IJ 20 370 35% 34"* 34— -% 

27W 19k CdMG« 1J4 4.7 16 484 D^'b 2714 28U+1Y. 

Sk 7ft GaJHSri J5 64 _ 170 8— 8ft 8ft 


14ft 7W HancBT 1J0M J _ 3709 13V* 13% 13— -16 L** a V p 

16— !4W HanJS 1J0 73 _ 122 16k 16ft 1«J +ft ®JJ 

9ft 5W Handtai 26 200 64* 6— « XU 25W Ubtoev 

X— JM HandK J4 J “ Hft a » +ft '« 11U 

30 19k Hama JH IJ 18 340 2Sk 25 25V* +V* hHff® 

X% 30ft Horrild J4 IJ 22 224 42— X% X% -% 2K S* L*gns 

Si Ip* S52!?" _ - - 2161 »U 19ft 19ft -U S®* 23— LAtProp 

Z7 22 Homan JO 1 J 6 666 33 22ft 22— “ J4V* LtoePrpW 

“—42ft HcnCn J4 IJ _ 1003 54ft S2— S4M+i% hffiS* 

3TJ* MU HwgOs -T4 J 21 49»Su Ml* S— + ^k S’* Jff HSSL, 

5S%^ , hSSS: « IJ >0 SKVft Mft ^ SS* 

47ft 32ft Hanna* JBf 2J 16 615 X 40ft 40— +— i*”* LitWa 

Xft 32 HartfdL in J6 .9 _ 1079 40ft 4X4 40ft +W ^ iff 

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-ii 





INTERNATIONAL 


BUSINESS/FINANCE 


TUESDAY, DECEMBER 23, 1997 


PAGE 13 


• t . 

* f* V 

l z. . £ 




■fc:* *- 






for IMF Rescue Team, 

A Big Test of Credibility 

Camdessus Tells of Pre-Crisis Meetings 


; By Paul Blustein 

• ... ’ Hju/UHgton Past Service 

. • - WASHINGTON — Michel Camdes- 
sus. managing director of the Intema- 

• ‘ tional Monetary Fund, does not usually 
. fell stories in public about his secret 

{aeeongs with officials of financially 
strapped countries. 

; •: ■ But at a press conference last week, 
be couldn’t resist recounting how he and 

- his deputy, Stanley Fischer, traveled to 
/-• Seoul in November to warn top South 

Korean leaders privately that their econ- 
only was hurtling toward disaster. 

; “Mr. Fischer and myself visited 
Kore^. separately in a totally discreet 
■ way to fell the authorities that it was 

• \ M 

‘V Ah — 

'Inside: America’s top banking 
^regulator saw the Asian currency 
^crub coming — three years ago. 

. v gssential to take action with no delay,’* 
Mr. Camdessus said. ‘They had, as 
fhany others, a tremendous difficulty in 
2 recognizing the facts.” By the time they 
- ' began scrambling later that month, “it 
■ was too late,'* he said 

? Seldom, if ever, in the IMF's 53-year 

* fiistory has it faced such a daunting 
; Challenge to its competence in main - 
linin g global financial stability. Al- 
though the fund, acting in conceit with 

. the Clinton administration, has mar- 
shaled more than S 1 00 billion in the past 
thme months to bail ont the econ omies 
&f Thailand, Indonesia and South 
JCorea, the financial crisis in Asia shows 
dnly spotty signs of abating. 

- I Mr. Camdessus’s disclosure of the 
meetings in Seoul was strategic, not 
Impulsive, for he is defending the IMF 
against charges that it misjudged die 

• crisis and is struggling to contain it 

. Critics are citing the grim news from 
the region’s markets as evidence that the 
IMF should change its approach for res- 
cuing troubled economies. The fund 
doles out loans to countries that are short 
bf the U.S. dollars and other currencies 
Jhey need to pay obligations to foreign- 
ers. In exchange, die countries pledge to 
adopt belt-tightening measures and take 
steps to restructure meir economies, such 
Is scrapping government regulations and 
. ffberalrzmu their markets. ■ 
i * Tlfc fc.oq Ihe line not 

“ *' r. 


only in Asia. On Dec. 12, it renewed a 
suspended credit line for Russia’s cash- 
starved government, despite qualms 
among soma experts about whether Pres- 
ident Boris Yeltsin has the clout to im- 
plement reforms. 

Nowhere, though, is an IMF progr a m 
as dangerously close to collapse as in 
South Korea, which received a second, 
$3-5 billion installment of die $60 trillion 
overall rescue package Thursday, the 
same day as a longtime dissident, Kim 
Dae Jung, won the nation’s presidency. 

IMF officials predict that South 
Korea and its ailing Asian neighbors 
will recover because, after an initial 
period of half-heartedly accepting the 
need for economic chang e they are 
starting to move more aggressively. 
One example is Seoul’s decision last 
week to allow interest rates to soar, 
which helped buoy the won. 

“Now we mast be patient and per- 
severe on our side in supporting these 
programs, as the countries themselves 
must persevere in imple menting them,” 
a senior IMF official said. “These pro- 
grams do not have immediate mira- 
culous effects. No, here we are dealing 
with confidence; it is very difficult to 
rebuild it sometimes.” 

At the U.S. Treasury, officials recall 
how the 1995 rescue of Mexico suffered 
through a nerve-racking couple of 
mouths during which the peso remained 
quite weak. And they argue that although 
Mexico had to endure a deep recession, 
the pain for Mexicans and the calamity in 
global financial markets would have been 
far worse had the IMF and United States 
not led the effort to provide Mexico with 
$51 billion in credit lines: In die end, as 
Treasury Secretary Robert Rubin often 



Japanese Investors 
Ignore Rescue Efforts 

Nikkei Share Index Falls Below 15,000 




Frank JatmuWThr Vbahngun IV— J 

Joel Klein, center, Is the architect of the U.S. case against Microsoft. 

An Avatar of Antitrust, 
A Nemesis for Microsoft 


By Stephanie Strom 

New York Tana Service 

TOKYO — Ignoring a 5 trillion yen 
($38.67 billion) government effort to 
resuscitate the economy, a 10 trillion 
yen plan to revive the flagging financial 
sector and the Bank of Japan’s efforts to 
prop up die yen, investors sent the 
Nikkei stock index plummeting yet 
again on Monday. 

The index fell below the 15,000 point 
level for the first time in more than two 
years, inciting rumors that the govem- 


the United Stales ahead of schedule, bat 
the United States made a profit of a half- 
billion dollars on the loan as welL 
Whether the Asian rescues are suc- 
cessful, many critics say these sorts of 
mega-bailouts simply create longer- 
term problems, because they allow 
people who made foolish decisions — 
especially bankers and money managers 
in New York, London and Tokyo — to 
avoid being subject to the discipline of 
die market. Ensuring that a crippled 
country has the resources to continue 
paying its debts to.foreigpens may help 
keep a panic from gpnea^ing globally. 


By Stephen Labaton 

New York Times Service 

WASHINGTON — At work, Joel 
Klein uses Netscape Navigator to 
search the Internet At home, he relies 
on Microsoft's Internet Explorer. 

But the reason be uses different 
Web browsers, he says, is simply that 
the computers at his home and at his 
office were already loaded with them 
when they were bought 

That in a nutshell, is the consumer 
practice that lies behind die most sig- 
nificant antitrust action to be brought 
by the government in a generation — a 
case of which Mr. Klein, 5 1 , is die chief 
architect in his position as assistant 
attorney general in charge of the Justice 
Department’s antitrust division. 

Two months ago, Mr. Klein filed a 
court challenge to Microsoft Corp.'s 
marketing strategy, which required all 
computer makers who wanted to in- 
stall the software giant’s Windows 95, 
the world’s most popular operating 
system, to also install its Internet 
browser. 

Last week, after winning a court 
order that forced the company to sep- 


Blinking Ah o ad /Commentary ■ 

Globalization Needs to Be Better Run 


By Reginald Dale 

International Herald Tribune 


B OSTON — Is the world en- 
tering an era that calls for 
radical changes in global eco- 
nomic management? Does 
the international economic and mon- 
etary system require a comprehensive 
redesign in the aftermath of the Cold 
War, as it did after World War H? 

In Washington and other Western 
capitals, die consensus answer to 
those questions would almost cer- 
tainly be no. There is broad satis- 
faction with the way in which the 
Wes tern -oriented postwar economic 
and financial institutions have nm 
the world economy. 

. In the United States, the conven- 
tional wisdom is that today’s accel- 
erating process of economic global- 
ization will on balance be good for the 
vast majority of the world’s inhab- 
itants! while there will also be losers, 
according to this view, the system 
should be able to take care of them. 

Bin in some other parts of the rest of 

the world, as well as in sectors of 
American and European opinion, there 
are growing fears that globalization, if 
not better managed, could lead to eco- 
nomic upheaval and conflict - 
Those tears have been fueled by the 
Asian financial crisis, in which the 
. International Monetary Fund has been 
widely criticized for. enforcing tradi- 
tional Western-style remedies, as well 
as by what seems to be a broader re- 


sentment in many countries of “be- 
gemonistic” U.S. power. 

The aim of the more intelligent crit- 
ics is not to challenge free-market prin- 
ciples, now endorsed by virtually every 
nation on Earth. It is rather to ask 
whether the world's economic power 
structure, unchanged for half a century, 
wQl be able to cope with the forces 
unleashed by globalization. 

That was the main question con- 
sidered by a diverse group of econ- 
omists from Europe, Asia and the 
Americas who met at Boston’s North- 
eastern University last week under the 
auspices of the Gorbachev Foundation, 
an international policy organization 
headed by Mikhail Gorbachev, the 
former Soviet leader. 

Unanimity is the last thing one 
would expect from any gathering of 
economists, and this group duly dis- 
agreed on many issues, while most 


agreed on many issues. While most 
insisted that globalization was increas- 
ing economic inequality both within 
and among nations, a vocal minority 


On some fundamental issues, 
however, the economists widely con- 
curred. These were that globalization 
had now advanced further than at any 
rime, in history, that head-on resistance 
would be folly, that the process would 
not stop — short of a world war or an 
economic cataclysm — and that it was 
potentially beneficial. _• 

Despite some mntterings that glob- 
alization was being exploited _ as a 
vehicle for Western neo imperialism, it 


was widely accepted, including by Mr. 
Gorbachev, that it had not been im- 
posed on the rest of the world by the 
United States. 

Nevertheless, the underlying theme 
of the discussion was ihai the dangers 
of globalization had been largely ig- 
nored by the “Washington con- 
sensus.” composed of the U.S. gov- 
ernment and institutions such as the 
IMF and the World Bank that dominate 
world economic policy-making. 

Many of the economists were con- 
cerned by the risk of spreading fi- 
nancial instability, by the danger that a 
worldwide recession could provoke a 
protectionist backlash and by the grow- 
ing power of multinational corpora- 
tions. 

It was widely felt that a loss of 
economic sovereignty by national gov- 
ernments had not been off set by greater 
cooperation at the international level. 
Participants from Russia, which ex- 
cluded itself from the postwar system, 
argued especially strongly for new 
forms of economic power-sharing, if 
not world governance. 

That kind of thinking is ana thema to 
the United States. But one does not 
have to agree with all of this to con- 
clude that it is not a good idea for 
globalization, and Western leadership, 
to be deeply resented by important 
sectors of world opinion. 

The challenge is to find ways of 
responding to the dissident voices — 
and to make globalization itself more 
politically appealing. 


CURRENCY & INTEREST RATES 


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arate the two software programs, he 
escalated the fight when he asked a 
judge to hold Microsoft in contempt 
He also asked the court to give him the 
unusual authority to review future Mi- 
crosoft products to make sure that 
they are not attempts to comer new 
markets. 

For some lawyers and antitrust spe- 
cialists, Mr. Klein’s decision was the 
biggest surprise since Microsoft’s 
chairman. Bill Gates, helped bail out 
his traditional nemesis, Apple Com- 
puter Co., in August 

A few months before the case, Mr. 
Klein's confirmation as assistant at- 
torney general was unsuccessfully op- 
posed by a handful of Senate Demo- 
crats who, along with some consumer 
groups, argued that he was strong on 
promoting big business and weak on 
enforcing antitrust law. 

Conservative Republicans, on the 
other hand, endorsed his nomination. 
Both sides focused on the fact that as 
the acting head of the antitrust di- 
vision, Mr. Klein had approved Bell 
Atlantic Corp.’s S 23 billion acqui- 

See MICROSOFT, Page 14 


“I am deeply concerned,” Prime 
Minister Ryu taro Hashimoto said. 

The Nikkei sank 515.49 points, or 
3.37 percent, to close at 14,799.40. the 
equivalent of the Dow Jones industrial 
average falling 26139 points from its 
close last Friday. 

“Sentiment is 1 deteriorating quite 
rapidly,” said Andrew Shipley, an 
economist at Schroders Japan Ltd. 
“What was considered sufficient medi- 
cine two months ago is now not per- 
ceived as sufficient at alL” 

Since then, the Asian crisis has be- 
come more complex and thorny. 

Japan is suffering the worst spate of 
bankruptcies in its postwar history, 
which has dire implications for its 
already weak banks. 

Consumers are resolutely putting 
their yen in their futons, despite efforts 
to entice them to spend. 

Hiroshi Oku da. president of Toyota 
Motor Corp., complained Monday that 
despite an aggressive and expensive ad- 
vertising campaign, the company could 
not seem to draw buyers. 

“I felt quite unhappy,” Mr. Okuda 
said, when asked what he thought of the 
pessimism infecting the stock market 

Investors still seemed spooked by the 
failure of Tosboku Ltd., a large food 
commodities trader that went belly up 
last week. More than Toshoku’s failure 
itself, which was the third-Iargest in 
postwar Japan, concerns about what 
more bankruptcies might mean for the 
already badly battered banking system 
spooked the market. 

Sakura Bank Ltd., one of the weaker 
of Japan’s 20 largest banks, was heavily 
exposed to Toshoku, and its shares. 


PRIVATE BANKING 


which plummeted last week, dropped an 
additional 13.9 percent to close at 360 
yen apiece. Moody's Investors Service 
put the bank on credit watch last week 
for a possible downgrade. 

Even the Bank of Tokyo-Mitsubishi 
got bruised, its shares falling 4.4 percent 
despite reports chat Goldman, Sachs & 
Co. plans to buy some 500 billion yen of 
bad real estate loans from the bank's 
affiliate, Nippon Trust Bank. 

Goldman Sachs is known as a shrewd 
buyer of distressed property assets, and 

Inside: Goldman Sachs plunges 
into Japan's property market. 

in any other market, news of its interest 
would have sent a strong signal of op- 
portunity. 

Also a senior member of the ruling 
party committee charged with stabil- 
izing the financial system suggested that 
the government would use some of the 
1 0 trillion yen it has pledged to shore up 
ailing banks to force consolidation in 
the bloated industry. 

Okiharu Yasuoka, one of the leaders 
of the Libera] Democratic Party com- 
mittee, described the stock market's fall 
below 15,000 as “a crisis." 

That led to speculation that the gov- 
ernment itself might step into the market 
in with what is known here as a price 
keeping operation, or PKO. The gov- 
ernment reportedly engineered such an 
operation a few years ago when the 
Nikkei fell to 14,300. 

A senior official at the Ministry of 
Finance refused to confirm that such a 
policy was ever put into effect before, 
although he went on to note that the 
government had been much criticized 
For it anyway. 

■ Japanese Bad Debt on Rise 

The Finance Ministry said Monday 
that failures of construction companies 
and money lenders had increased the 
total of bad debt held by Japanese in- 
stitutions to 29.01 trillion yen. The As- 
sociated Press reported. 

The increase in the outstanding bal- 
ance of nonperforming loans by 1.11 
trillion yen since the end of March in- 
cludes 930 billion yen held by the failed 
Hokkaido Takushoku Bank, a ministry 
official said. 


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Hong Kong tel. 852/28 02 28 88 - Singapore tel 65/535 94 77 







INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 25, 1997 


•PACE 14 



THE AMERICAS 


Investor’s America 


The Dow 


30-Year T-Bond Yield 


7500 — 
7000 




- 5J9Q — 


Dollar in Deutsche marks IS Dollar in Yen 



J A S O N D 
1997 


J A $ 0 N D 
1897 




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. „ 


Toronto". 


S3o Paulo 

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San^go 

. . : m<mi 'r4m?z< 

.Caracas ' 


Source- Bloomberg. Reuters huenuurona! Herald TUbare 

Very briefly: 


Market Slides 
In Asia Give 
Dollar a Lift 


Technology Issues Fuel Gains on Wall street 


Bloomberg News 

NEW YORK — The dollar rose 
against the yen Monday as tumbling 
Japanese stocks and downgrades in 
bonds from South Korea to Thai* 
land drove global investors to U.S. 
financial assets. 

The U.S. currency also gained 
against the Deutsche mark as price 
reports showed little sign of infla- 


Cet^NtoOw’S&FramDixptxrJxx 

NEW YORK — Stock prices rose 
Monday, led by Intel and other com- 
puter-related shares that recently 
have lagged the market 

“Investors are moving into 
beaten-op stocks, particularly tech- 
nology companies,** said Tony 
HiischJer, president of Brandywine 
Asset Management 
The Dow Jones industrial average 
closed 63.02 points higher at 
7.819.31. TheNasdaq composite in- 
dex rose 7 JO points to 1 ,532.04, 


Technology stocks, which have 
dragged down the market repeatedly 
in die past few weeks, posted some 
gains. fVimpnq Computer gained 1 
to 5416, and International Business 


FOREIGN EXCHANGE 


STOCKS 


• American Electric Power Co. agreed to buy Central & 
South West Corp. for $12.2 billion in stock and assumed 
debt 


• Tyco International Ltd. agreed to buy American Home 
Products Corp.'s Sherwood-Davis & Geek division for 
$1.77 billion, adding syringes, needles and catheters to its 
medical-products line. 

• Petrol eos Mexicanas plans to invest 1 1 billion pesos ($1.35 
billion) in its petrochemical units in the next three years to 
expand production of natural-gas products. 

• Dynatech Corp. said a group of its executives and key 
employees and the investment firm Clayton, Dubilier & Rice 

* Inc. would acquire the telecommunications electronics com- 
, pany for $49 a share, or about $900 million. 

• Cabletron Systems Inc’s earnings fell 71 percent, to $19.9 

* million, or 13 cents a share, in its third quarter. Sales fell 8 
- percent, to $331.8 million, in the quarter ended Nov. 30. 

• Telecom Corp. of New Zealand said Amen tech Corp. 

planned to sell its 24.95 percent stake in Telecom Corp. 
through a public share issue. Bloomberg 


Weekend Box Office 


The Associated Press 

LOS ANGELES — “Titanic” dominated the U.S. box office 
over the weekend, with a gross of $27.6 mil lin n Following are 
the Top 10 moneymakers, based on Saturday's ticket sales and 
estimates for Sunday. 


l.ntnnlc 

TTuw dfetoCerttapAwt 

S274 million 

2. Twnuiaw Now Dies 

(United Artists) 

S26ralRton 

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tion in Germany, su gg esting the 
Bundesbank will not raise interest 
rates soon. 

The dollar rose to 130.125 yen in 
4 P.ML trading from 129.280 yen on 
Friday and to 1.7815 Deutsche 
marks from 1.7754 DM. 

The dollar also climbed to 1.4390 
Swiss francs from 1.4350 francs 
and to 5.9590 French francs from 
5.9485 francs. The pound fell to 
$1.6635 from $1.6705. 

“The dollar climbed on negative 
news from Asia last night,’' said 
Dennis Heidt of Paribas. “Noth- 
ing’s going on in New York. The 
vast majority of traders are finished 
for the year.” 

Moody’s Investors Service Inc. 
cut the foreign-currency credit rat- 
ings of South Korea. Indonesia and 
Thailand to below investment grade, 
souring investors on the region and 
depressing the yen, traders said. 

People are looking to the U.S. 
bond market as a safe haven for 
year-end.” said Rick Porter, man- 
ager of foreign exchange sales at 
Kredietbank. “That’s benefiting 
the dollar in a flight to quality.” 

Activity was very light, traders 

already on vacation fonhe^clirist- 
mas holidays. Traders said the 
lingering economic, banking and 
currency crises in Japan and its 
Asian neighbors would hurt the yea 
in the coming months. 

“The dollar is the place you want 
to be to round out your investment 
year without a bad surprise,” said 
Walter Simon, a currency-options 
trader at Bank Julius Baer. 

Traders also were encouraged to 
push the dollar higher by a lack of 
action on the part of Japanese of- 
ficials to stem the dollar’s gains. 

Meanwhile, the Bundesbank re- 
ported that consumer prices in West- 
ern Germany rose at an annual rate 
of 1-9 percent in the six mouths to 
December, down from a rate of 2.1 
percent for the six months ended in 
November. Given that, Mr. Simon 
said, tiie Bundesbank probably will 
keep rates stable. 


while the Standard & Poor’s 500 
Index gained 6.93 to 953.71. 

Bond prices rose as deteriorating 
credit quality in Asia helped support 
demand for U.S. Treasury bonds as 
a safe investment. 

“There’s a flight to quality taking 
place,” said Vic Thompson of State 
Street Global Advisors in Boston. 

The benchmark 30-year bond rose 
18/32 to 103 13/32, driving its yield 
down four basis points to 5-88 per- 
cent, the lowest since Oct 20, 1993. 

While U.S. stocks are vulnerable 
to a 10 percent to 20 percent decline, 
they remain something of a safe 
haven, traders said. Asian maricem 
fell after Moody’s Investors Service 
Inc. cut its investment ratings on 
South Korea, Indonesia and Thailand 
to junk-bond levels, intensifying 
concern that a regional cash crunch 
will drive companies into default. 

“There’s great unhappiness 
around the globe but not here,” said 
Jim Benning, a trader at BT Broker- 
age in New York. “The U.S. econ- 
omy is doing just fine.” 


Machines rose 7/16 to 102 9/16. 

Intel rose 1 7/16 to 71 7/16 and 
was the most active issue in U.S. 
markets. The company's chairman, 
Andrew Grove, was named Time 
magazine’s Man of the Year, 'pie 
magazine called the Hungarian im- 
migrant “the person most respon- 
sible for tiie « roaring growth in the 
power and innovative potential of 
microchips,” the devices that power 
personal computers. 

Stocks also were buffeted by sev- 


eral acquisition announcements. 

American . Bankers _ Insurance 
Group rose after American Inter- 
national Group said it was buyin£ 
the specialty-insurance company for 
about $2.2 billion. American Inter- 
national Group stock rose. . 

Lu ke ns jumped after Allegheny 
Teledyne offered to acquire the steel- 
maker for $715 milli on in cash and 
assumed debt, topping Bethlehem 
Steel’s bid. Allegheny Teledyne 

rose, and Bethlehem Steel gained 

American Home Products fell 
after Tyco International said it 
would buy one of its subsidiaries 
and expand Tyco’s existing med- 
ical-products line. Tyco rose. 


Central & South West gained afiar 
American Electric Power said it 
would buy the company- American 

^Baltimore Ga&& Electric and Bo- 
tounac Electric canceled their $3.8 
billion purchase agreement, saying 
regulators had asked for too much in 
rale cuts from them. Baltimore Gas 
gained, but Potomac Electric fell 
Merck rose after it received US. 
government clearance to sell the 
first pill for baldness, giving mens 
convenient alternative to Pharmacia 
& Upjohn's Rogainc ointment for 
keeping or regrowing hair. The 
clearance had been expected. • 

(Bloomberg, Ar)f 





***«»*Si 

... • ^-rSI 


v'.« 

\. 


Com 










Tough Sell: Dow Jones Markets Faces Loss 


By Geraldine Fabrikant 

New York Times Service 


NEW YORK — As potential 
buyers of Dow Jones Markets begin 
studying its internal financial data, 
they are finding an operation whose 
rising costs in the race of falling 
revenue could result in a $69 million 
operating loss this year, according to 
a rttinfiftonHai document that is 
circulating among bidders. 

The same circumstances are 
likely to put the company at the risk 
of a significant loss in 1998 as well, 
according to tiie document 

At the troubled financial-infor- 
mation services unit of Dow Jones 
& Co., revenue has fallen nearly 9 
percent, to $760 millio n from a high 


last year of $827-6 million, and costs 
are up about 17 percent in the cur- 
rent financial year. 

The resulting loss that the com- 
pany expects, according to the doc- 
ument, gftmrfg in stark contrast to the 
performance of the division in 1 995, 
when it reported its highest oper- 
ating income ever, $1653 million. 

By last year, (derating income 
harf dropped to $117.8 million. 

The losses reflected in the doc- 
ument come at a tune of intense 
competition in the financial-infor- 
mation industry. Companies such as 
Bloomberg LP and Reuters PLC 
have invested heavily in upgrading 
their software and services, which 

s on 
'and 


analysts’ desks worldwide. 

Several analysis and banters 
have estimated that the unit might 
fetch $500 million to $750 million 

less than its annual revenue -rr 

even though potential buyers in dje 
financial-information business are 
said to feel they could cut expenses 
drastically. 

For example, Dow Jones Markets 
now has about 90,000 terminals, and 
before a recent announcement of 
layoffs, it had about 3,800 employ- l 
ees. By contrast, 1LX Systems, a unit w 
of Thomson Corp.. which is said to 
be interested in Dow Jones Marked, 
has 110,000 terminals and a staff of 
670. Bridge Information Systems, 


bring up-to-the-minute reports on another potential bjddCT, Iras 75,000 
the financial markets to brokers' and terminals and a staff of 1,600. 


MICROSOFT: Official Directs Escalating Antitrust Battle With Software Giant 


Continued from Page 13 


sition of Nynex Corp., creating a 
telecommunications behemoth with 


39 million telephone lines from 
Maine to Vir ginia. 

“We’ve got an antitrust fellow 
here who rolls over and plays 
dead,” Senator Ernest Hollings, 
Democrat of South Carolina, said at 
Mr. Klein’s confirmation hearing. 

Moreover, as the No. 2 official in 
tiie antitrust division a year earlier, 
Mr. Klein persuaded other Justice 
Department officials not to chal- 
lenge Microsoft's strategy of in- 
stalling the icon of its on-line ser- 
vice, the Microsoft Network, in all 
Windows 95 programs, an effort by 
the software colossus to promote its 
network over that of rivals such as 
America Online Inc. 

Officials said Mr. Klein had ar- 


gued that that market was already 
competitive and that the mere pres- 
ence of a Microsoft Network icon on 
the computer screen would not by 
itself enable the company to lever- 
age its dominance in tiie world of 
operating systems into control over 
networks and Internet access pro- 
viders. 

‘There was a rumor some 
months ago that this gay was afraid 
of the big guys and wouldn’t attack 
them,” Stephen Axinn, an antitrust 
specialist in New York, said. 
“Nobody is saying that anymore. 
These are suddenly becoming the 
halcyon days for antitrust.” 

What makes the current antitrust 
fight particularly significant is that 
the World Wide Web is emerging as 
the next new platform foe global 
commerce, research and entertain- 
ment Not since the government 


took on the likes of AT&TCoip. and 
International Business Machines 
Corp. more than a generation ago 
has the antitrust division issued such 
a challenge to a corporate titan. 

In fact, with the decision to pro- 
secute Microsoft, Mr. Klein has put 
antitrust considerations back on the 
front pages and guaranteed that the 
division is involved in cutting-edge" 
legal and economic issues in a way 
that his predecessor, Anne Binga- 
man , tried to accomplish but with 
less success. 

“It was right, and it was cour- 
ageous.” Eleanor Fox, a professor 
of antitrust law at New York Uni- 
versity, said. “He had to make a 
considered judgment about whether 
tire worst problem is a monopoly or 
government intervention.” 

Microsoft executives and lawyers 
see the matter differently. They say 

'•i* •? r' •' 


Mr. Klein is trying to micromanage 
Microsoft and is a pawn in a Larger 
struggle between the company anti 
its rivals — one that they say shooftl 
be sorted out by the marketplace. 3 

In an article published in THe 
Wall Street Journal lost month, Mr. 
Gates argued that the antitrust cfc- 
vision’s position was “akin to the p 
■government telling personal-com- 
puter manufacturers that they can’t 
include wond-r 






ora-processing, sp 
sheet or e-mail capability in 


because it would be unfair to type- 
writer, calculator and courier 


foOVWENT*. 


companies. 
Mr. K 


Klein says his fundament^ 
mission is to see that antitrust prin- 
ciples that were developed origi- 
nally to regulate smokestack indus- 
tries are correctly applied to 
emerging technologies to promote 
competition and innovation. J 

y|. V 'if 1 ”.1*1 • I 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


TbWIltM i 



Monday's 4 P.M. Close 

The 300 mast traded stocks of the day, 
up to the dosing on W<tf Street. 
The Associated Press. 


sum h* l<u uw aw Indexes 


Most Actives 


Dec. 22, 1997 


Wgh Iw JjuM Cbga Optra 


High Low Latest Oigt OpM 


HW* Low Latest Cbga OpM 


•■*** tear'' 


n»« im 

12W 12 

im Aifc 
u» iv» 


Dow Jones 

OPM 


Tran 

ua 

Coup 


It-WM 3142J5 _ 

.2663? 24831 24451 247.71 +254 
254943 2S4IJO 25JU4 2557.14 +172* 


NYSE 

STCdBcpn 

SP* 


High tow Luted Chga OpM 


Wa Up 1* Ufcd Qrgc 


Standard & Poors 



T«rty 


Want 
RapuMnit 
!PMt 


Industrials 

Transp. 

Utffltles 


SP! 
SP 100 


— 109245 110197 

— 4709 673.06 

— 227.05 23086 

— 11643 116J6 

— 946.78 953.71 

— 45053 453JM 




Vkt MWk 

55994 2fM 
57588 £» 

ma m 

421*6 45 

33 S?‘ 

38244 104U 
34495 64kC 
34483 24(5 
3450 nyti 
33445 5»fe 
31445 44*1 
38477 5W6 


KM Uat 
IW» 19ft 

so* sih 

2 B’SS 

lift* 128k 

44ft 44ft 
25*k 26V, 
19 20ft 
100ft 102*. 
4M 66V, 

£1 ft 

51ft 52 
45f» 46Vk 
57V, STkk 


♦Wk 

4k 

+2 S 

+v» 

-1 

■’ft 

+#fe 

♦44 

A 

A 

-*h 


' Grains 

CDWKCKm 

£000 bumtaimuB- cents per basM 

Mor98 247ft 263 M3M -2ft T7ST15 

May 98 2741* 271 2711* 

JUM 280ft 276ft 276ft 

5epW 278ft 274 27* 

Dec 91 260ft 278ft 279ft 

JUI99 292ft 292 292ft 

Dec 99 273 271ft 273 unto 

EsL a*n 4&000 Fit* sales B&074 
Fit* upon fed 325UB5. up 2.124 


-2ft 49,047 
-3 57453 
-1ft *455 
-ft 31815 
-ft 335 
469 


ORANCe JUKE OKTIO 
UUJOObs.- cents parte. 

Jan 98 8420 8580 83.10 -1-40 11477 

M or* 89 JO 8&5D 8845 

May 98 9300 9200 9ZO0 

MM 9640 9530 95J0 -140 

E* wdas HA Frt* solas Mtl 
Fite apwi tal 4684ft off 695 


-140 

-IJU 5064 
3467 


18-YEAR FRENCH GOV. BONDS (MATIFI 
FRSoaun - pt» or loopcf 

Morn 10u7< 101 J0 101.56 Unch. 139021 
Jim 98 WUN 10106 10096 UndL 125 
EsL sfllas: 38,129. 

Open InL: 139,146 up 1,951. 


Mar 99 9554 9547 9547 +OQ3 BftSkS 
EsL sdas: 4*712. Pm. solas: 39.314 
PlkV.open tat: 553,194 up 1514 I 




Metals 

GOUHNCMTO 

100 trey atr doBors nor Iw* ok. 

Dec 97 29IJ0 29180 291.10 *140 


JK9S 


175 


NYSE 


CneiPgM 

nauMMs 

Transp. 


HUB Una lost 
50141 497.11 508a 
4(315 612.10 41634 
45133 44893 «144 
33130 37640 SliH 
488M 48397 4844)0 


LrfLMSS 


Massed 

S3? 

McMLog 

AMOK 

ss 8; 


Nasdaq 


Bafts 
Insunncx 
H nance 
Transp- 


HWa Urn 4nf 
1544J7 152482 153183 
11B6J5 117920 1182.06 
204070 202744 703032 
176400 1 75284 175942 
2439.il 2431.(7 743447 
1031 J6 101947 102 191 



SOYBEAN MEAL CCflOTI 

100 lent- do8an par ton 

Jan 98 mjQ 20520 20640 +040 20704 

Mar 98 20580 202JD 203JD -OJO 34.981 


May 98 204J0 202.10 20110 -060 21091 
JUM 


20520 20920 20490 4L43 15117 
Aug 98 205J0 20420 7053)0 unch. 4.979 
5opM 205JD 20400 20500 +0.10 1549 

Esl sato* 14400 Fffs Dries 2A733 
Frt* open HI 10637, OH 1244 


29140 +140 2 

Frt 98 29170 29100 292JD +140 95132 

Apr 98 2S5J0 792J0 29450 +1J0 12453 

Jun98 29730 29580 29640 +1J0 11,938 

Aug 98 29920 298J0 29850 +1J0 8372 

Daw 3HJ0 30050 MOJO +1J0 2446 

Doc 98 30130 30220 30240 +1J0 11546 

Feb 99 30520 30470 304J0 +120 1918 

EsL salei 11000 FWs satas 22J40 
FriY upon tat 18544a op 1907 


ITALIAN GOVERNMENT BOND (UFFE) 
1TL 200 mBkai ■ pn onao pd 
Mars* 11440 11417 11423 +006 117436 
Jon 98 N.T. N.T. 11543 +CM 73 
EsLoalrt: 48.981. Prev. solos: 90099 
Piw.oponlrtL 241,910 up SM7 


LIBOR 1-MOKTM KMER} 

S3 melon- pts of 100 pd. 

Jan 98 9430 9428 9429 -OJT1 21221 

Frt 98 9429 9428 9428 unch 12,925 

MwM 9424 9422 9423 -O01 1887 

EsL solas HA. RTS sates 7,139 
Fits apon tat 39,059, off 1^47 


Industrials 

COTTON 3 CNCTM 
5(1000 lbs.- ants perm. 

Mar 98 68.00 4745 6788 ,048 AlM 

4925 4075 49.15 +047 1MN7 

ALSO 7000 70J0 +049 149W 

7110 7110 7110 +4330 U71 

7179 72 JO 7164 +015 lliSW 

EiLstfesNJLFrtssalesMU [ 

W» open Ini 80421, up 83 , 



May 98 
M 98 
Od98 
Due 98 


HEATING OIL (NMER) 


25ft -lfti 
17ft +1ft 

« +£ 
+1ft 
35ft -ft 


MkSM 

Uenk&tr 

UoBlMlg 

s 

MVP 


lav. 4* 
mu -ft 


7 AMEX 


44344 44047 44107 +239 

Daw Jones Band 


AMEX 


SOYBEAN OIL fCBOT) 

40000 B»- cents par to 

Jan 98 2495 3478 2479 4122 25773 

Mv98 2540 25.15 2520 4122 41844 

May W 25J3 3525 25J9 -021 1SM4 

JulM 2540 2545 2545 -024 12214 

Aug 98 2545 2535 2537 -023 1518 

Sap 98 2540 2520 2525 4L15 1249 

EtL sates laooo Fris sales 21188 
Firs open W 104401 aR 535 


50494 WftU 949, 95ft 

uno y* m 
mt Si ..s 




SSffi* 

HAVW 


20 Bonds 
lOUtfflltes 

10 tudustrials 


105.00 

10103 

10747 



SOYBEANS CCBOT1 
5400 H ntatowm- canto parbusbel 
Jan 98 482ft 475 480 -3 

MarM 484ft 479 681ft -Oft 

May 98 489ft 664ft m -2 

JU198 494 488ft 490ft -3 

Aug 96 491 487 633M .Jft 

sates 3&000 Fits sates 591340 
Fih open ini 1 50278. off 4073 


HI GRADE COPPER (NCMX1 
25000 bs.- ants par Hu 
Doc 97 79W 7925 7940 

Jan 98 «JB 7945 7920 
Feb 98 BQ40 8025 8C3S 
Mar 98 8125 8065 8025 
Apr 98 8140 8120 8140 

May 98 8110 8120 8125 

Am 98 HAS 

A89B 8180 8325 8155 
Aug 98 8225 8285 8225 

Esl sates 6000 Frts tales &146 
Frfs open Ini 69,12ft up 442 


-0-10 1,185 

■020- 3L5I0 
■ai5 1098 
4115 34,964 
■0.10 1JU 
■020 5J65 

-020 1417- 
-025 1717 

-025 1237 


41777 

25747 

25879 

6090 


397 


Trading Activity 


r iss» 


: s' 

' man 


hnoGn 

Haa9M 

Hupafti 

Hansel 

HoaMo 


4271 

ft 

■ft 

1ft 

-ft 

441 

4» 

Pi 

n. 

7ft 

Pi 

30, 


4M 

r* 


r> 


443 

I3'» 

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un 


557 

3IPI 

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20ft 

•Ik 

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lift 

w. 

lift 

• ft 

ia 

T~ 

T»i 

1R5, 

r« 

•ft 

179 

m 

IFfe 

•ft 

1» 

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lift 

149, 

.44 

1ft 

SH 

IK 

«n 

•■k 

714 

149. 

14U 

Mft 

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TI9 

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«, 

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U41 

1” 

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2ft 

K> 

♦*v 

0 1 

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‘ft 

317 

IU 

1ft 

Vt 

♦ft 

144 

Til 

31ft 

»■ 

*u 

345 

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5ft 

-Ik 

301 

3U 

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39k 

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355 

T-; 

2ft 

Ti 

__ 

441 

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10ft 

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M6 

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V 

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1312 

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1711 

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145 

1314 

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4ft, 

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1, 

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SO 

1ft 

i"ft 

m 

■ft 

345 

1ft 

i«ft 

l«k 


me 

tew 

154 

tou 

-ft 

let 

w 

4‘. 

19k 

-9k 

141 

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8V, 


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"ft 

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7k 


CO 

1ft 

Ift 

Ift 

■ft 

148 

lf'» 

un 

151, 

+19 

3S4 

7U 

6'1 

H 

-> 

547 

lift 

lrt-i 

Kk 


143 

3lj 

JVW 

7V. 


203 

UU 

14ft 

14V, 

♦ft 

735 


IV, 

16k 

•Ik 

lit 

Vi 

1ft 

Ift 

-*k 

24) 


IM 

1*>I 

+4 

m 

7U 

Bft 

to 

•tk 

RBI 

7ft 

W 

n» 

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157 

23 

22ft 

E6V 

•ft 

531 

49* 

44ft 

44U 

*»V 

4M 

2't 

tv. 

hi 

4k 

IT 

ISft 


ISO 

‘ft 

277 

HIT 

15ft 

ltt 


1141 

T9, 

lift 

lift 

•Ik 

1149 

5ft 

ffte 

SVk 

-■■k 

lit 

50, 

19ft 

19V 

+>9 

IB 

1ft 

1ft 

10 

■ft 

228 

lift 

17N 

1» 

4l>/, 

2V7 

211, 

19ft 

HV 

■AV 

W 

m. 

2>A 

3314 

4k 

571 

1714 

17ft 

17ft 


ID 

n 

n 

1ft 

♦ft 

4W 

2 h 

TV, 

»1 

-II 

HO 


2ft 

31k 

J k 

Jia 

I. 

2ft 

3 

*11 

WS7 

ft 

\» 

VV 

•ft 

in 

14, 

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19k 

mi 

5ft 

S 

Pi 

-vv 

1837 

r« 

19* 

life 

-ft 

254 

ip-. 

m 

iw 

•ft 

713 

a 

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_ 

251 

13, 

life 

l*k 


1(89 


205 

in 

-V* 

O 

«m 

re- 

MV 

*5 

157 

15ft 

15 

15ft 

2305 

2ft 

2ft 

39k 

4k 

3277 

5ft 

5V. 

» 

4k 

5097 

SO 

32te 

im 

•ft 

252 

3ft 

3ft 

SH 

rftl 

US 

it 

ft 

It 

4, 

]344 

1ft 

lift* 

19k 

-VV 

172 

fj 

ift 

4ft 

•ft 

ir 

at 


IS 


719 

un. 

IW 

14ft 

+k 

125 

10ft 

9ft 

9ft 

-ft 

171 

Si 

5 

5 

-ft 

177 

7ft 

TV. 

7U 

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in 

4 

3ft 

n 



M 

w< 

96V 

9ft 

-U 


PCOfcrt 
PC ten* 
PIXjw 
PwcPIawiw 
PonMCn 

s s 
w - 


NYSE 


Nasdaq 


1ft be 
MO 16 

ten m 


Total' 

Now K 

Now Laws 



876 

B33 


WHEAT CCBOT7 

5000 Da raMteum- ante par basM 
Mar 98 338 332 333 -ft 

May98 345ft 339ft 341 -ft 

JUI9B 351ft 344» 347 -ft 

Sap 98 354 354 354 +1 

EsL sates 12JH0 Frts odes 20041 
Firs open tat 91306 op 1,771 


56.762 

12420 

19488 

72S 


silver atom 

5000 tray aa.- esnb per bay at 
Dec 97 60000 59600 597J0 -050 
Jon 98 6O2J0 40020 40030 sm 28 

Frt 98 48220 -100 

Mar 98 40&00 401 JO 4O2J0 >U10 47JM 

W 98 60780 401J0 <0150 -300 7.103 

I 60700 48000 3J30 7271 

sap » 4O2J0 -3-00 1212 

Dec 98 40680 59980 40180 -120 4,902 

EsL aotes 8J000 Fits stetes 10244 
Rft open Ini 95956 up 981 


EURODOLLARS (ONER) 

SI mUan-ptsaf 100 pd. 

" “ 9*31 9620 9420 

9422 9618 9*19 
9421 9617 9618 
9619 9413 9615 
9610 9405 9487 
9*11 9484 9487 
9484 9483 9404 
9484 9480 9401 
93J8 93.93 93J4 
9480 9157 9198 
9198 9195 9194 
9196 9193 9194 
EaL sates HA. HIS sales 376334 
Rft open M 2^96469, up 19842 

BRITISH POUND fCMER) 


Feb 98 
Mar 98 
Jan 98 
Sep 98 
Dec 98 
Mar 99 
Jui99 
Sep 99 
Doc 99 
Mar 00 
Jin 00 
Sep 00 


-081 6,173 

■081 4S9JW7 
-081 396440 
-0-02 255496 
-082 2228G& 
-082 14*239 
■082 137,943 
-082 100498 
882 1(0497 
■002 71452 
-082 62212 
-082 56344 


Jin 98 
Feb 98 
Mar 98 
^98 
May 98 
Jin 96 
Ail W 


51 -W 5180 51.15 -081 31157 

52JS 5140 5151 -084 <0444 

5ZJS 5150 51J1 -086 HL3R7 

MJ4 5146 -0.74 10L7J7 


5175 5186 5184 -071 6441 

11805 


5148 50.91 50.91 844 
51.90 51.16 51.16 -056 6443 
Est sates HA, Fid sates 26341 ‘ 

Firs open int!47^7l all 1834 , 



62500 poundteS perpaund 

' 1.6SK 18540-08074 32844 


UGHT SWEET CRUDE (NMER) 
1800 DW.-daUan par bbl. 

Feb 98 1859 1820 1822 822 

1872 1865 1889 8.23 
1884 18.62 1854 -0J3 

1983 1875 1879 820 
19.10 1883 1889 -GIB 
17.12 n.94 18.94 4118 
EA sc4es NA FiTs sates 126047 
FTfs apan tal 427,711 up 1871 


Mar 98 
Apr9B 
May 98 
Jan 98 
Jul 98 


Mar 98 15440 

Am 98 15500 15498 1545008074 U18 
Ssp9B 15420-08074 4 

e*. sates NA. Frit sales 9,908 
Fite span tat 36186 up 2,737 


NATURAL GAS (NMER} 


10800 mm btv6 s per mat Mu 
Jan 98 2-440 2260 


PLATINUM (NMER) 


50 Iwj at- dotes 


^ AMEX 


Market Sales 


SK 0 * 5 

Pw& s 

RFPM 


ft It 

a im 

3* »U 
3» m 



272 

342 

157 

771 

16 

II 


Tarty 


359 

175 

29 


NYSE 

Aren 

Nasdaq 

InmNbax 


5368S 903.93 

27.94 4680 

54882 79654 


5£®n 


m am Jtm 


Livestock 

CATTLE (CMEI0 
4H80B fafOnapab 

Doc 97 6785 6670 4475 +0.17 3J84 

Fab 98 4620 4467 6572 +CLT7 46427 

Apr 98 4920 4855 4857 -0.12 24.195 

Jan 98 4827 678S 67.92 442 15487 

Aug 98 <927 <880 4880 .057 4476 

□098 72.13 7155 7122 422 1282 

EsL sates 1A734 Frit sates 1647D 
HfsapsaM 101446 up 9SD 


An 96 35680 3jZ70 -1.90 7247 

Apr 90 35400 330.10 350.10 4.10 6410 

JUI9S 35280 34850 34850 -240 293 

Od 98 34850 440 4 

ESL sates NA. RTs sates 2841 
Rte open tat 14218, up 237 


CANADIAN DOLLAR KMER] 
loaoaq doBan. S per CUR. dtr 

« *2 ^22 -S2? 56012 

Jun 98 -7004 5991 5998 -02013 ‘L.snc 

Sep98 2011 2007 2006-08013 897 

EsL sates NA. HTs sates 1 6299 
Hte open tat <0226 up 42S 


Pmtous 


dose 

LONDON METALS OME3 
DoBamperiartfcton 
nhirtwiM nniUi nimte] 

Spat 150680 1507.00 151480 151580 

Fonwd 15348 0 153580 154080 154180 

]7MXO HI SSS W 174<J» 174780 
.178180 178200 177680 177780 


GERMAN MARK (CM ER] 

125500 maria. * per nwV 

Mar 98 -5656 J628 -5443-08023 61546 

Aran .5467 5665 5671-0.0022 

Sap9B -5696-08022 140 

EsL sates NA. Fite tales 161 44 
Fite open taf 70088, up 153 


2240 -0.1H 

Fsb9B 2410 2200 3295 ^124 

Mw98 2250 2250 2250 

AprW 2250 hot 2ias -SoJo 

2200 1160 1170 -0850 

■ten 98 2205 2.141 2.140 JJfl72 

EsL sates N A. Firs sales 42427 
Fite opsn Int 21 721 A up 2.1 95 

UNLEADED GASOLINE (NMER) 

42800 paL cents per gal 

JanOT 5140 S540 5520 -<L49 

35m 5M * -°.76 

S - ?? 5*-™ «44 8J3 

59J5 XJ9 5BJ9 -0.7E 

5RS0 5834 -029 

3BJ0 £.M 5734 -0.78 

-°.7S 

5723 5424 5424 4L78 


- - '.*m- 




Ma-98 
Apr 98 
May W 
Jim 98 
AH 98 
Aug 98 


JAPANESE YEN (CMER) 


122 mNknjgg tperlOOi 


THt *%h 

srw +» 

lv. 


Pir Amt Roc Pay 


iu 


■i ft 


^ te" 


iu it 
Wo site 

ate 47ft 

n M 
lift in 


J9 12-31 
.14 12.29 

■3512*30 
.13 12*31 
29 12-31 


iu 


2TS 2te 
ft h 
ft ft 


IM 

1» 

1*1 

15ft 


1SS 

9ft 

Hi 

9 



61. 









523 

47 VV 

441k 


-ft 

17* 

9k 

ft 

ftl 





5ft 


■M 



ik 


507 

Wk 

IM 

in 


S3 

Wft 

19k 

19ft 





2M 

4-ra 

517 

14ft 

15k 



1> 

130V 

is:. 



7S 


32ft 

326 

+>j 

318 

19k 

n, 

n 

4V 






HI 

lift 

ir 

11 

■>* 

281 

22ft 


T* 


1514 

1)9 

1 



44H 

HW 

im 

im 

*'ft 

177 

lift 

IS 

igv 

♦9k 

111 

4ft 

5ft 

m 

•ft 

IM 

39tk 

a 

30ft 

-ft 

183 

2519 

24(9 

3519 

+k 





4k 

IBS 

15k 

1ft 



ffl 

L 

1ft 

It* 

49 

IM 

9ft 

8M 

ink 

4V 

W24 

pn 

38 

Mk 

■19k 

190 

Eft 

22U 

22k 

•ft 


Dividends 
Company 

IRREGULAR 
Cdn Resources o -8557 1221 

Oaufei Asset Inv 

irssr*” 

SummO REIT g 
VlUng Energy g 

STOCK SPLIT 
pB. 

I Comnmtfas 2 tor 1 spB. 

STOCK 

Noriti County Bqi - 5% 12-31 

REVERSE STOCK SPLIT 
CwrttHwitMt«3revB4espa. 
PAKClnH lfor4 reverse SpBt 
Then n weod Carp 1 for S reverse sptt. 
INCREASED 


1-15 

1-19 

1-15 

1-1S 

1-15 

1*15 


Company 

WlntanFod 


1-14 


Per Amt Rec Pay 
Q .125 12*31 
SPECIAL 

CohenSlrTufl Ret _ 188 12-31 
Sbium Capital 

INITIAL 

ArtitalyMIg 


- 25 13-31 


1-14 

1-12 


Es,r° n 


1-31 


73 12-31 
84 12-31 
25 2-16. 
-07 1-15 
.1312-31 
.14 1-7 

855 1-2S 
81 12-29 
83 12-31 
■S2 12-26 
2534 12-31 


Amer Rhrer Bh 
And croons Inc 
BetaAHA, 
GenEtednc. 
MetMtonFM 
Nall CBy Cleveland 
PenwoodBnqi 
Pemmnent Bnqi 
PuteeBncp 


State SI Corp 
TCW/DW2W0 


.15 1-22 
84 1-2 

.12 M3 
X 12-31 
2712-31 
M 1-9 
8912-31 
.11 18 
7Q 14 
.12 1-2 


M 8S 12-31 


1-30 

1*21 

3-4 

1*24 

18 

2-1 

1-15 

1-23 

1-22 

1-15 

1-33 


Moitvs Corp n 
Rflyltrwn CO A&B 
RNsrvlewBnqi 
TotecomAign 
Tower My 

YEAR-END 

CWno Fund _ _ JO 12-29 

CatanW InterraHl _ 8645 12-31 

France Giwlti _ l JO 12-31 

Greater Chin _ 38012-31 

S knurl Capita! SPBC, f L ^ i 2 -31 
USBcmcwp Inc PA _ 75 12-31 


1-20 

18 

2-28 

2-2 

1-31 

1-21 

2*14 

1-24 

18 

1-6 

1-15 


FEEDER CATTLE (CMER) 

508001m.- mb pw to. 

Jan TO 77.32 7637 7445 -052 4539 

MarTO 77J5 76.95 7782 440 4450 

Apr 98 7880 7730 7740 -035 Z074 

AtayTO 79.05 7837 7837 -OJ7 1404 

Aug 98 80JS 80.10 BOJS -045 931 

Sep 90 80.10 00.10 80.10 -065 200 

EsL nrias 1553 Rte sates 5386 
fits open tat 16631. op 517 


53080 

53980 


53ZOO 

54180 


542ft 

Mlm 


543ft 

55380 


AniW 7888 .7855 .7888-0-0054 1^45 

S*P98 7995-00054 \JT1 

EW. ntes NA. FiTS HIM 14918 
Fite opsn M 71440, off 33 


M. sides NA. Fits sates 32402 
Frts open bn 109.181 0« 450 


HOGS-Urt (CMER7 
4U»0to&- cento per lb. 

Frt 99 B:» 5L92 5985 JUS 20764 

Apr 98 5735 5+70 57.12 442 3746 

Jon TO 65J5 6585 -SM» -Oja &420 

Jot TO 6*35 63.93 6622 +0t10 Ua 

AegW 61.90 6170 61.72 4125 265 

EsL sates 6875 Fits softs 6146 
RTs apsn tal 3698a off 307 


gLd 

ZtecBp 

EL* 


590580 591580 587380 
600080 601080 597080 


588580 

597580 


ictK/ w 534580 rwm 
532080 532580 530580 


536080 

531080 


1007ft 1089ft 111980 
111380 1115L00 114280 


112080 

114380 


SWISS PRAHCtCMEIQ 

125800 francs, s portanc 

Mflf98 JQ39 JOOi -7026-0.00(70 ZU7S 

Jim 98 7D9A 7090 TOW-08030 li? 

**PTO 7165-08020 110 

EH. sates NA. Rte sales Utffc 

Fits open H 38.931. up TO 


GASOIL OPE) 

J(Vl98 159-5Q 1SL50 15175 +1JS 37.15B 

159-50 +280 11236 

aSm 8 14D^ +,7S ItTOI 

IwTS 160.50 16OJ0 +175 4831 

May98 160-50 16050 160L50 4.1 7S im 

JUH98 I60J0 16025 IMsS tli” ,S? 
Est salea: 14800. Pm. solas : 8488 

Pm. open tat j 8S838 up 546 


High Law Oau Chge OpM 


1-15 

I*» 

1-16 

1-16 


M2 

1-30 


PORK BELLIES (CMER) 

40800 Its.- onto nor Kl 
F eb 98 5573 5340 5545 +072 6104 

Mar 98 5690 5W 5440 +042 1,324 

May 98 5595 5485 5S.75 +040 lS 

Est sates 2811 FrtS sdas U87 
RfSapMW 9.186. up 69 


Flnanciai 

l» T BILLS (CMER) 

Slmaton-ptsonoopd. 

MarM 9697 9489 9692 -0.07 8737 

Jun« 9694 9690 94-90 4189 1770 

S*P 9! 9690 MM 9698 -089 29 

Doc 98 9383 anefa. 

Est Ados NX Fits sates 2834 
Fits opfln W 9J36 up 961 


MEXICAN PESO (CMER) 

mm peon s per peso 
¥ ar » -]]Wl.n«7+JKQ33 16474 

,11550 .11525 .1155D+JHQ19 12*57 
Sop 95 -11215 .11205 a «hlc 

EsL soles HA. Fits sedes 6,127 
Fite open tat 25866 art 471 


5 YR TREASURY (CBOll 


a-aasMb b-appro 


shnw /AOR? g^ wynblil BCaBadfanftiBd g{ 
m-monWp MWtell: s-onatoiMar. 


1® 

244 

18 


3S 


M 


*^1 

Mi 


A 

% 

37J. 


H 

lift *li 
17ft 4ft 

Wlh -Ite 


US 

777 

179 

M2 


1H 

16ft lAft 


1IU 

m 

181 

IH0 


in in 

Bft 12ft 
«h 5ft 
9ft (Bft 
lift. ISA 
.17ft W 
Hit lb 
♦ft 9ft 
4ft « 

1 4A 
M ti 


IU 

16 

IM 

6 


,3S 


17ft 

10te 

» 


4ft -ft 
rta -ft 


US. Stock Tobies Exploined 

Sdes flgurea esc imoBidoL YeatyMgta and tens reflect the piwtoia 52 weeks pfeBttwaimrrt 
weefc but ncWw M e st t nir ai y iloy. Where flSpBwstadt<W(tend{m»jnltagte2Siie»cerf ornx se 
hoi been poid, Etc yems Mgh-tow range and dMdend ore shown tar tie new afcida only. Unless 
eBwiwtee notad rates <* rfiuidentte ore annual rfebunemanb based an Bn latest decfcnftn. 
a - (UvWenrt ertso extra Is), b - annual rate of iMdend plus star* dMdend c * Dquidatlng 
dr/ktemL «c^ - PE toa»d599.dd- caBed. rt - new yearly tour, dd • lass In tin last 1 2 months. 
■ - dMdend declared or paid fa preceding 12 months, f - annual rate, increased on Inst 
dedaraffan-g - dfvWend In Canadian funds. sobioct to 155b nan-resktenae tax. I -dividend 
dedoreti after aptft+ip or stock dMdemL [. ifiyidend paid m year, aimed, iMened. or no 
adton taken at tatast dMdend meeting, k - dMdend declared or paid this year, an 
ooawnrtativebsue witti cftrtdends in amara.m- annual rale, reduced on Inst deda w lfa n . 
n - raw issue in the post 52 weaks. The trigh-tew range begins sllh the start o( hading, 
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• - 

.»• 


^New Corporate Structure Gives Subsidiaries 
A Mandate: Be Number One in Your Market 

t)ne of the company s greatest assets is its willingness to try new ways of working. Ideas for change are solicited and rewarded 


I n transforming itself, this 
Jaige German chemicals 
company has provided 
rthe business world with a role 
model Hiils’s new corporate 
-Structure will be able to cope 
■iVifo and profit from volatile 
markets and ever-changing 
technologies. 

’ ' Nearly all of the world’s 
' L friajor companies have cut 
costs and stepped up pro- 
ductivity by putting foem- 
-selves through the re-engi- 
neering process. Designed to 
.increase the company’s in- 
.nate ability to compete suc- 
' iessfuHy, re-engineering has 
generally entailed flattening 
Jperarchies and empowering 
employees. Often, spinning 
voff one or more corporate 
divisions has been part of the 
plan. 

I J Extensive friough these re- 
-engineerings have been, 
;pnany of the restructured 
companies are now looking 
. for further ways to boost cor- 
. porate performance. The rea- 
son: *e impetuses for re- 
’ structuring have not gone 


away. In fact, they’ve gotten 
stronger. 

One solution is provided 
by HGls AG. In a move tak- 
ing effect on Jan. 1, 1 998, the 
company has parceled out its 
operations to an array of 12 
subsidiaries. Each of these 
has been given virtually 
complete day-to-day respon- 
sibility for serving and de- 
veloping its individual area 
of focus within the world's 
chemical market 

All of these manufacturers 
and service providers face 
the same iron-clad rule: sink 
or swim. The corollary for 
Hub’s ‘'make it on your 
own” policy is that there is 
nothing eternal about this 
line-up. Rather, the new 
structure is flexible and will 
be determined by the success 
of the individual companies 
in attaining and maintaining 
a number-one position in 
their markets. This position is 
defined as having the largest 
market share, or highest rate 
of profitability, or productiv- 
ity per employee. Also shap- 


ing the subsidiaries will be 
the new opportunities 
presenting themselves in the 
world’s chemical sector. 

As part of the company’s 
ongoing Global Fitness Pro- 
gram, these stipulations have 
already led Hills to make a 
number of asset divestitures 
and acquisitions in the recent 
past Even larger ones are to 
come in the near future. 

Nor is the prevailing form 
of corporate structure — 
holding company and sub- 
sidiary — engraved in stone. 
Over the past few years, Huls 
has shown a great proclivity 
for deploying the joint ven- 
ture as a way of reducing 
exposure in troubled markets 
and for entering into new 
geographic and product 
areas. 

Kudos 

Germany's business press 
has been quick to laud Huls's 
restructuring. The articles 
have praised Huls as a fore- 
runner for the country’s en- 
tire business community, 


Environmental Leader Courts Consultants 


In order to practice sustainable develop- 
ment Huls has established and maintained 
some of the world’s most extensive sys- 
tems of environmental protection. This prin- 
ciple also has managerial and technological 
dimensions., 

Germany’s chemicals industry is more 
'f*“foan nanwsy to fts goaT of slashing fts . 
carborxfiaxkle output by 30 percent by the 
year 2005. With a reduction of more titan 
20 percent aiready achieved, the industry is 
tight on schedule. (The program began in 
1990.) 

The reduction of air pollution emissions 
has been part of Huls's across-theboard 
environmental policy. All of Huls’s six pro- 
duction facilities in Germany have com- 
pleted the strict European Union environ- 
mental audit process, making the company 
the first large-scale manufacturer to Europe 
to do sol 

Erhard Meyer-Gakw, chairmen of HOls’s 
board of management, sees the sustain- 
able development principle at work to an of 
the group's areas of activity. 

"We've also set up mechanisms sus- 
taining the development of our companies 
and their products and staff members, * he 
says. 

One way that this has been accom- 
plished was by establishing a “brain trust" 
of 12 bright young people each year to 
discover promising areas of product de- 
velopment for Huls. The only requirement 
fix the group was that its members be 
entirely new. 

After looking at an initial 200 areas, the 
brain trust selected 10 fix submission to a 
screening committee. Four projects were 
selected for development, something now 


being undertaken by Creavis, one of the 
group's “hotshops." 

“Such groups have been designed to 
serve as 'agents of change’ within the Huls 
group," says Klaus Engel, executive vice- 
president of Creanova, another of _ Huls' 
"innovation engines." 

Resh critique 

Huls’s in-house management consultants 
also play a major role to sustaining the 
process of corporate change. Working on a 
contract basis, the 65 consultants are com- 
missioned by group companies and divi- 
sions to solve fundamental problems, in- 
ducting the reengineering oftheir basic way 
of operating. A number of the 65 are them- 
selves bright new arrivals to the Huls 
group. 

"Their stint at the in-house management 
consultancy provides them with a thorough 
exposure to the group’s many areas of 
activities.” says Wolfgang Werner, the man- 
agement consultancy’s head, "in turn, the 
young people bring a freshness of outlook 
to our projects." 

Senior executives experience this fresh- 
ness head-on. So-called “forums’ are a key 
part of Huls’s management development 
program. In these, groups of 25 to 30 young 
executives have the opportunity to interact 
directly with Messrs. Meyer-Galow, Engel 
and Werner. 

" Instead of tefilngthem what they should 
be doing. I invite them to critique my per- 
formance," says Mr. Meyer-Galow. 'They do 
so, in forthright and interesting comments. 
Perhaps it’s this openness that has made 
Huls one of Germany's most attractive em- 
ployers,’ he concludes. 


which is in pressing need of 
achieving a greater flexibility 
of operations. 

The current situation is a 
far cry from the troubled 
years of 1 992 and T993.Like 
many industries worldwide, 
Germany's chemical in- 
dustry ted been struck by a 
deep slump in demand. All of 
the country’s manufacturers 
were confronted with a 
make-or-break situation. In 
those days, Huls was not by 
any means considered a sure- 
fire survivor. Many of the 
company's products were 
situated in the low-growth 
sectors of the market Its dis- 
tribution network \vas under- 
developed in many high- 
growth markets. Even more 
crippling, its operating struc- 
tures were regarded as hide- 
bound. 

The company did have 
two major assets. The Veba 
group was steadfast in its 
commitment to remaining a 
major producer of chemicals. 
In a series of major acqui- 
sitions, it was this commit- 
ment that made Huls — 
whose modern-day life start- 
ed in 1 978 — into Germany's 
sixth-largest manufacturer of 
chemicals. 

And in 1993, a new, vig- 
orous management team 
“took office.” It was deter- 
mined to work the turn- 
around, and that's precisely 
what it did. From 1992 to 

1994, Huls recorded a loss of 
1.5 billion DM ($S50.19mil- 
fion), partially resulting from 
charges taken on restructur- 
ing measures. These com- 
prised selling off loss-mak- 
ing and/or peripheral 
activities and augmenting the 
remaining core operations 
through the purchasing of 
new holdings. 

Keeping staff on board 
In terms of die company’s 
total turnover, the sdl-ofis 
and acquisitions balanced 
each other out, keeping 
Huls's total above the 1 1 DM 
billion mark. The moves 
were also partly responsible 
for the major improvement in 
profitability. Earnings before 
taxes on income reached the 
700 DM million plus mark in 

1995, and showed a further 
improvement in 1996. 

The achievement becomes 
even more remarkable con- 
sidering the environment in 
which it was accomplished. 


Owing to die entry into the 
world market of chemical 
producers from Central and 
Eastern Europe and other 
emerging areas, both product 
prices and margins suffered a 
further fall in these years. 

Even more important in 
producing Huls's profitabil- 
ity turnaround was the surge 
in productivity. Reversing a 
sharp decline, the average 
output of employees working 
in the core, chemical man- 
ufacturing operations rose 47 
percent within a single two- 
year period, with the group- 
wide figures showing com- 
parable increases. 

How was this achieved? 

“Through the extensive 
use of benchmarking and of 
employee retraining pro- 
grams, and not by resorting 
to mass lay-offs.” says Er- 
hard Meyer-Galow, chair- 
man ofHQIs's board of man- 
agement 

Speed, not size 
The questions arise, with re- 
engineering successfully 
completed: Why this sweep- 
ing reorganization of the 
company? And where did 
this entirely innovative cor- 
porate form come from? 

“Because the need to 
transform was still there, as 
declines in profitability in 
several business areas de- 
railed. And because it’s a fal- 
lacy to suppose that any re- 
structuring can ever be 
brought to an ultimate con- 
clusion in today's tumultuous 
world.” says Mr. Meyer-Ga- 
low. “And the idea of cre- 
ating operating units em- 
powered to focus exclusively 
on" their area of expertise was 
not new, at least not to us. We 
already had five subsidiaries 
basically doing just that, and 
they were among the most 
successful in our group-” 

According to Mr. Meyer- 
Galow, because the five are 
relatively small, their speed 
of decision-making, product 
development, marketing and 
order-processing are very 
high. 

“And that’s the key point," 
he says. “We don’t neces- 
sarily want our companies to 
be the largest in the field. But 
we very definitely expect 
them to be the fastest ones. 
Speed of action, not size of 
operatioa is the key determ- 
inant of success in today’s 
business world.” 


For further information, please contact 

Huls AG 

' D-45764 Mari 

Fax (49-2365) 49 41 76 
Internet: httyi/Avww.HnefcuIe 


IliilS 


Nnr Subsidiary Companies 



The New Corporate Offspring 


As erf Jan. 1, 1998, the Huls Group will be comprised 

of an eponymous "strategic chemicals hokfir® com- 
pany" and 12 subsidiaries, each responsible for 
'. sewing a ctearty delineated segment of the world’s 
fchemteai market 

MEMO Electronic Materials, Inc. 

» Products: sillcium wafers, polycrystalline silicium 
' Workforce size: 7,500 Turnover 1.7 Wilton DM 
($963.55 trifflton) 

Phenqtatismie GmbH & Co.. KG 
. fraducts: phenol and aceton 
; Workforce size: 580 turnover: 1 bill tan DM 


VESTOUT GmbH 

Products: PVCs 

workforce size: 770 Turnover 600 million DM 

CONTENSIO CHEMICALS GmbH 

Products: tensities, selected performanc&enhan- 
dng chemicals 

Workforce size; 1,000 Turnover. 800 million DM 

CREANOVA S p eriatehemfeGmbH 

Products: intermediates, colorants, coating raw ma- 
terials and engineering plastics 
workforce size: 4,000 Turnover 2.7 billion DM 


RoeftmGtnbH 

Products: senrfrfirtshed rnaterials and formants for 
- Ptedgas. methacrylates 
; Workforce size: 3.700 Turnover. 1.2 Wilton DM 


OXENO Oteffncbemle GmbH 

Products: C4 products, oxoateohols, softeners and 
plasticizers 

Workforce size: 900 Turnover U2 ballon DM 


t^tackhaqsenGmbH A.Co^ KG 
•• Products: supensbsorbente.floculants 

WorWbrtesfcr.1.600 - 


SIVENTO Cfiemie GmbH 

Products: silanes and silicon^ 

Workforce size: 1,400 Turnover. 45Q ntiffion DM 


StyrenU Kimstoffe GmbH & Co. KG 
Products: styrols 

Workforce Size: 500 Turnover 550 million DM 

Hub Infracor GmbH 

Services: infrastructure maintenance and develop- 
ment environmental protection, energy supply, lo- 
gistics, management ofthe ChemSite industrial park 
in Marl, Germany 

Workforce size: 4,000 Turnover: 1.2 billion DM 

CREAVIS GeseHschaft fur Technologe und Inno- 
vation mbH 

Activities: research into and development of Inno- 
vative products — Including enzymes and catalysts 
— and services, the entry into new business areas 
Workforce size: 130 Turnover not yet available 

Personnel and turnover figures have been rounded off. 


A 


In Chairman’s Vision, 
Employees Are Capital 

Erhard Meyer-Galow. who has a doc- ducing Europe's share to 50 percent 
to'rute in chemistry began his distin- and to greatly Increasing the revenues 
guished career in 1969. in Germany’s earned in North America and Asia. 
chemistry industry. In 1991. he ww ap- Won’t the setting up of the 12 inde- 
pointed member of the board of man- pendent subsidiaries impede that, by 
agement ofStinnesAG, the Veba Group’s splitting up sales activities? 
services and retailing arm. Since 1 993. he Not in the slightest. There are a number 

has been chairman of the board of man- of high volume markets, principally in 
agement of Huls and a member of Veba ’s Europe, that can be ‘directly and cost- 
board of directors. efficiently served by our major subsi- 

diaries, acting in their own right and for 
Huls’s nearly 29,000 employees have other group companies. In Asia, foe ob- 
been subjected to top-to-bottom ject of some 2 billion DM of Huls in- 
changes in their working environments vestment over foe next four years, we’ve 
over the past live years, and further, set up a holding company in Singapore 
major changes are in store over the and charged it with further building up a 
next few weeks. How has Huls’s man- distribution and production network in 
agement enlisted support for these Asia. We're also extended our working 
changes? relationships with third-party distributors 

The question puts the cart before foe a number of markets. We foresee our 

horse. The process worked like this: Fust subsidiaries' making use of foe Asian 
we won foe employees hearts and minds, holding company’s services, as these will 
and then, availing ourselves of their sup- he effective and expert — partly because 
port and especially their ideas, we com- ^ members win ^ Huls’s “in- 
men ced foe restructuring. One way we gjdere” 

secured both was by greatly stepping up But ^ question of ^ geographic 

foe suggestion-making process. We dispersion of a distribution network is 
award cash prizes to ail employees mak- 
ing suggestions and, even more impor- 
tant, we implement their suggestions. 

But this is by no means only or primar- 
ily about financial reward. We want our 
employees to get foe message that their 
innovations and enthusiasm are appre- 
ciated. That’s why I personally hand out 
all cash awards leading to savings or other 
improvements of mom then 10,000 DM becomin S ™ro and more moot m an era 

(15,668). And thafs why we’ve had more m which a Chinese P urchaser of chem - 
suggestions over the past two yearn than icals solicits bids on a woridw.de scale via 
in the preceding 50. an e-mail broadcast throughout the In- 

temet. This dissemination of on-line busi- 
Jealousy has caused similar pro- ness « stoldn S worldwide competitive 
grams at other companies to fail. Su- Pressures- And foe winners are those able 

periors didn’t want their subordinates to ofifer S 00 * 1 V&* 31 ver > lowest 
getting “too full of themselves.” How P nce - Large-scale distribution networks 
have you gotten around that? cause overhead and hence higher prices. 

Very simply. By ranking our executives 

according to foe number and “output" of Extensive though it has been, your 
suggestions submitted by their personnel P rocess of restructuring appears to be 
— and by allowing foe executives to only a prelude for an even bigger move, 
participate in their staff members’ in- Veba, your corporate parent, has pur- 
genuhy via weekend trips to Paris and chased a 36.4 percent stake in Degussa, 
other attractive destinations. The result of the fiftb-largest chemical company in 
all this has been that Huls’s suggestion- Germany. 

making process nabbed first place Veba’s move has been made with the 

among all of Gerrrrany's chemical man- “vowed goal of joining Degussa and 
ufacturers, and second place among all of Hub into the “top four” chemical pro- 
foe country’s companies with between ducers. What is the status of this move, 
5,001 and 20,000 employees [1996 and what effect wffl it have on your 
Bundes- company’s efforts? 

wirtschaft Engineurprufung survey], in Degussa ’s board of directors have wel- 

1996, we provided our employees with corned this move. Talks on ways to mesh 
1 1 .7 DM million in prizes. These resulted the two companies’ operations are pro- 
in 100 DM million in savings. The figures seeding, and we expect to begin detailed 
for 1997 should be about 50 percent discussions after Degussa ’s annual gen- 
highcr. eral meeting, to be held on Feb. 1 3. 1 998. 

The merger makes good business sense. 
Hub currently realizes more than The companies' range of activities are 
two-thirds of its sales revenues in complementary, thus avoiding overlap. A 
Europe. Of that, half stems from Ger- merger will thus produce a full-product, 
many. Yon’ve set yonr sights on re-, full-service provider of chemicals. 


“HOls: Making the Market-Sized Company" 
was produced in its entirety by the Advertising Department ofthe International Herald Tribune. 

It was sponsored by Huls. 

Writer: Terry Swartzberg, based in Munich. 

Program Director: Bill Mahder. 


Today, a purchaser of chemicals 
can sotiett bids on a worldwide 
scale via an emaB bro a d ca st 
throughout the Internet 








PAGE 16 
















































































































is III) 


^ all Si 


. INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


PAGE 17 - 


ASIA/PACIFIC 


1994s An Early Warning on Asia, but No One to Hear It 




.By Jeff Gerth 
and Richard W. Stevenson 

S’trr li'rf Times Service 


: WASHINGTON -TWye^ 

. ago. when Thailand and South into rapidly developing eSotme^ 
. Korea were still considered econom- If there is one dear lesson from 
i ic miracle i and no one but currency the turmoil that has so badly jolted 

- v trader paid attention to the bah: and Asia, it is that the financial systems 
; : . the won. the top U.S. banking reg- in many rapidly growing countries 

- ulator saw a looming cnsis in Asia, were no match far the huge bat fickle 

• ; ; Eugene Ludwig, the comptroller pools of money they attracted. ■ 

• • of the currency, noticed disturbing National systems intended to-su- 

- r 'parallels between banking practices pervise banks have proven unable to 

• ;v . in rapidly growing Asian economies keep pace with the rapid ctevelo p- 
... ‘‘‘and the mess created in the United mem of a global financial mariret- 

Stales by the deregulation and sub- place that pays little attention to bor- 
^N-sequent collapse of savings-and- den;. There is no international body 
loan associations. able to be a global regulator. The 

t Along with deregulation in both United States and other big countries 
\ cases came a flood of new money, are unable to impose on the 

h reckless lending and inadequate often reluctant governments and 
government supervision — a clear fonirc in countries at risk. - 
. recipe for a costly disaster. Efforts to bolster the soundness of 

. But 'Mr. Ludwig’s concerns — financial systems in Asia and else- 
passed along informally to a World where by encouraging greater dis- 
\ ‘/Bank official at a meeting of in- closure of financial data and by prod- 
: temational bankers in Madrid in dine large international fonts tn 


rls i'. 


otmes and the mteraational system the largest international rescue in higher, involving entire economies, 
are suddenly more at risk because of history. Yet, paradoxically, there is While the IMF, other multina- 
tbe ineffectiveness of obscure bank- no global body with the ability or the tional bodies and national govern- 


ing regulators in a few countries. 

South Korea, Thailand and In- 
donesia are among the countries 


ui many rapidly growing countries paying a steep price for the pzob- 
were no match ror the huge bot fickle 1 ferns with their banks, and Japan is 
pools of money they attracted. scrambling to avoid the same fate. 


National systems intended to -so- Tbe ripples have crossed the Pacific, 
pervise banks have proven unable to unsettling Wall Street, hurting U.S. 


mandate to manage the problem. 

The main body for coordinating 
international bank regulation — a 
committee of worldwide regulators 
operating under the Bank for Inter- 
national Settlements in Switzerland 
— has made little progress until now 


keep pace with the rapid develop- 
ment of a global financial mark el- 


ders. There is no international body 
able to be a global regulator. The 
United States and other big countries 
are unable to impose changna on the 


exporters and potentially curbing 
economic growth. 

“In tile eariy 1980s, the United 
States confused deregulation with su- 
pervision; and the , same thing 
happened in Asia,” said Charles 
Bowsher,- due former bead of the 


in getting countries to upgrade stan- 
dards. The International Monetary 
Fund, recently thrust into the front 
lines of the battle to shore up banking 
systems, is a reluctant savior. 

“The amount of detailed know- 
ledge it lakes to understand a system 
is beyond the capacity of a single 
multinational organization to deal 
with,” said Stanley Fischer, the 
IMF’s first deputy managing direc- 
tor. Collapses of big international 
financial institutions such as Bank of 
Credit & Commerce International in 
1991 and Barings PLC in 1994 have 


often reluctant governments and General Accounting Office, the in- 
banks in countries at risk. vestigafive arm of Congress. “You 


Efforts to bolster the soundness of pay 'a very big price, as we did in 1 929 
financial systems in Asia a nd else- and the 1980s in th i s co untr y, and 
where by encouraging greater dis- what we'rc now seeing in Asia.’ ’ 


ding laige international 


d- With the International Monetary 
to / Fund taking the lead, multinational 


menis are willing to help, they lack 
the power that usually goes with 
being a leader of last resort — the 
ability to demand changes, before a 
crisis hits, in a bank's management 

“In the last few years, we’ve 
come to realize — and you may say 
it's late — that banking-system sta- 
bility is more important for a wider 
range of countries,” said Andrew 
Crockett, general manager of the 
Bank for International Settlements. 

“It’s the public sector, whose 
money is on the line, that prevents a 
financial meltdown, so the public 
sector has to have a voice/' Mr. 
Crockett said. “How can we get 
these countries to adopt these Stan- • 
dards? The answer is you can’t.” 

The limits of sovereignty concern 
bankers and others in the private 
sector. “National supervision of 


■ 16500 -jM — 

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1800 — 
1700 - — 
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— fcAv™°— 

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Mbnctey Pm. • % 

Close Close . Change 

WTStAT 1MQS.81 -&24 
1,572.61 -157 
2£&4Q 2,528.10-0.98 
14»7E»A0 16^1459 
56943 . 578.76 -1.54 

$7fc9S 386J5 • -2.15 

396.06 400.19 -1.03 


. Hong kong ' iHW^ Seng 


Tofqr^ 7 /. •t0*ef225. 


•Cornpoette Index 


IfanttaV 

Jakattar 


w-RSE: • 

‘•"Coiripostte index 7 


1387.18 1,85022 .+1.56 
38535 378.80 .. +136 

2£0Q£2 . 2.300.95 -0.01 
341644 3,540.91 +2.13 


complex global firms and global 
markets is inadequate to meet the 


Source: Tefakurs 


Inlrrmtiiiml HcnU Tribune 


Homestake 
:Sets Purchase 
Of Plutonic 


Banking on Tokyo Real Estate 

Goldman Sachs Unit Buys Up Property-Backed Bad Loans 


I Huttlr II tth. 


I II Ml 


Om Slj{I Fum Pnjurrlurs 

i MELBOURNE — Homestake Min- 
. ing Co. said Monday it would acquire 

' ^ Plutonic Resources Ltd. of Australia in a 
i ,S640nullionstockdealthatwouldin- 
f Ilf crease ihe U.S. mining company’s gold 
reserves. 

Homestake said the acquisition 
. would also create one of the world's 
.. largest gold-mining companies. Homes- 
Lake's Australian operations would be 
( the second largest in that country. Trad- 
ing in the companies’ shares had been 
..suspended pending the announcement 
. and is' due to resume T iiesday morning. 
Homestake said it would make the 
"acquisition by issuing approximately 
64.3 million shares, or 0.34 of a Homes- 
. take common share for each Plutonic 
ordinary share. When Ihe transaction is 
completed. Plutonic shareholders will 
own about 30 percent of the enlarged 
' Homestake. The transaction has been 
approved by the boards of both compa- 
nies and is expected to close in April. It 

■ is subject to approval by shareholders. 

The deal values Plutonic’s shares at 
: 5 JO Australian dollars ($3.25) each, an 

- 86 percent premium over Friday's clos- 
ing price of 2.80. At that price, the 
CMnBflfav'sSmarket value would be 970 

anllyg^'at ^e\^bourntf-tesed stock-: 
brokers D&D Tollhurst Ltd., said it was 

- a "huge ptemium/’ . 

■ " He said,' *T<fsay it's deliberately 
.. . designed to shake off any competitors, 

- - especially those who want to get a 

■ blocking stake of. say. 5 to 10 percent 
_ j../ and hold out to get a higher price for the 

«. «’’ shares” 

Homestake said it expected the ac- 
-• . auisition to increase its I99R gold pro- 
duction by about 450.000 ounces 
1 12.745 kiiogrutnsj and its 1999 gold 
V 7 prodiicuen by about bOO.OOO ounces. 

The company expects to achieve 
\* about $20 million in annual cost savings 

by combining Plutonic 's operations and 
, exploration - business with its own in 
Australia. Homestake said the purchase 
would increase the U.S. company’s gold 
, reserves bv about 2.2 million ounces 
' from the 26.4 million ounces it reported 
.. at the end of 1996. 

(Bridge iVcu'.v. Bloomberg) 


CampO* by Our SuffPrtm DbpaKha 

TOKYO — A unit of Gold- 
man, Sachs & Co. will buy as 
much as 500 billion yen ($3.86 
billion) of property-backed bad 
loans from Japanese '.banks by 
the end of 1998 in the expec- 
tation that Japan’s real-estate 
market will recover soon, the 
company said Monday. 

The unit, Goldman Sachs Re- 
alty Japan, already bought 12 5 
billion yen of such loans this 
month from an affiliate of Bank 
of Tokyo-Mitsubishi Ltd!, a 
Goldman spokesman said. 

While the borrowers have 
stopped making -payments on 
these loans, the loans are backed 
by real estate, mostly In Tokyo. 
Goldman's Japanese real-estate 
subsidiary already owns about 
10 propert i es in Japan that it 
acquired through similar loan 
purchases. 

“From a medium- or long- 
term perspective, Japanese real 
estate is getting more attractive,” 
a Goldman executive said. 

Meanwhile, however, the risk 
of an escalating economic crisis 
in Japan grew Monday as stodc 


prices slid to a 30-month low. 
' Analysts called on the govern- 
ment to abandon its tight fiscal 
policy. ■ ' 

Among the immediate risks is 
a credit - crunch in which Jap- 
anese banks tighten credit on 
companies, setting in motion a 
vicious circle that could push 
equities inio a downward spiral, 
analysts said. 

After losing 5.2 percent on 
Friday; the Tokyo Stock Ex- 
change’s Nikkei 225 stock av- 
erage dropped 515.49 points, or 
337 percent, to close at 
14,799.40, its first close below 
15,000 since July 5, 1995. 

- The stock slump is more wor- 
. lying, analysts said, for what it 
implies about the market's re- 
action to Prime Minister Ryu- 
taro Hashimoto’s economic- 
stimulus package, which was 
announced Wednesday. The 
plan includes income-tax cuts of 
2 trillion yen and increased gov- 
ernment spending. 

Japanese banks are among die 
biggest victims of the stock- 
market slump, which further de- 
presses the Value of their se- 


curities as they seek to meet 
stricter capital requirements set 
to take effect April 1 . 

Japanese land prices plunged 


Japanese land prices plunged 
early this decade when the so- 
called bubble economy of die 
late 1980s crashed, leaving Jap- 
anese banks holding trillions of 
yen of bad loans and slowing the 
economy. The real-estate mar- 
ket has mostly been in a lull 
since then, but property values 
and occupancy rates in several 
of Tokyo’s busiest business dis- 
tricts have been rising recently. 

Goldman is negotiating with 
several other Japanese banks for 
similar deals, its spokesman 
said. 

“In the next two or three 
years, there will be great op- 
portunities for foreign investors 
wanting to buy Tokyo real es- 
tate,” said Richard van Rooii, 
managing director at K. K. Hal- 
ifax Associates in Tokyo, a real- 
estate broker specializing in for- 
eign clients, 

“Now is as good a time as any 
to step in the market if you take a 
long-term perspective,” he 
said. [AP. AFP. Bloomberg ) 


markets is inadequate to meet the 
requirements of the times,” said 
John Hetmann. chairman for global 
financial institutions at Merrill 
Lynch. A recent study by private 
and public-sector specialists, for 
which Mr. Heimann was co-chair- 
man, said that major financial in- 
stitutions, in cooperation with su- 
pervisors, must take -the lead in 
reducing global financial risk. 

“The speed and complexity of 
innovation in the markets, the su- 
pervisors' inevitable position ‘be- 
hind the curve’ and their real han- 
dicaps in competing for talented 
staffers all argue for private insti- 
tutions to take on greater respon- 
sibility,” the study said 

But it is unclear whether the 
private sector will take on such a 
crucial role. In South Korea, forex- 
ample. large Japanese, European and 
American banks may have been part 
of the problem rather than port of the 
solution, as they were among the 
financial institutions most exposed 
to huge losses there. 

Meanwhile, the United States and 
other governments have been ex- 
pending considerable effort to get 
countries to open up their financial 
markets. Washington, acting at the 
behest of American banks, pressed 
South Korea to do so a few years 
ago. But it “didn't help the Korean 
government prepare for these things 


Very briefly: 


• Daiwa Bank Ltd. and IBM Japan LtcL, the Japanese 
subsidiary of International Business Machines Corp.. agreed 
to set up a joint venture in corporate computer systems. 

• Asian regional airfares will rise as much as 9 percent in 1998 
because of the recent sharp declines in many Asian currencies, 
according to the American Express Asia Pacific Airfare Index. 

• Hyundai Motor Co-, South Korea's largest automaker, 
halted construction of a $ 150 million joint-venture car plant in 
Indonesia because of economic difficulties in both countries. 

• Qantas Airways Ltd/s domestic and international pas- 
senger traffic grew 5.1 percent in October despite predictions 
that travel would fall as the region’s economies softened. 
•Taiwan’s Chiayi County invited Bayer AG to invest there 
after the. company canceled a 50 billion Taiwan dollar ($1-55 
billion) project to build a chemical plant in central Taiwan. 

• Pierre Cardin of France granted An Phuoc a license to 
manufacture and distribute Cardin products in Vietnam after a 
dispute with its previous partner over bogus merchandise. 

• Barclays PLC agreed to sell its BZW investment-banking 

branches in Australia and New Zealand to ABN-AMRO 
Holding NV for 177 million Australian dollars ($1 15.3 mil- 
lion). AP. AFP 


Melbourne Casino Faults Its Luck 


countries to open up their financial Agm-* France-Pnsse 

markets. Washington, acting at the SYDNEY — Bad luck and not bad management caused 
behest of American banks, pressed heavy losses for the Crown Casino in Melbourne in recent 
South Korea to do so a few years months, its top executive told regulators of the Australian 
ago. But it “didn't help the Korean Stock Exchange on Monday. 

government prepare for these things Crown Ltd/s chairman, Lloyd Williams, said that losses to 

— it went too fast,” said Yoon Dae high rollers had caused the casino's win-loss ratio to drop. The 
Eub. a professor of international fi- commission is investigating whether the casino violated rules 
nance at Korea University and by not letting shareholders know about the losses sooner, 
former member of the South Korean Crown announced Friday that it was seeking a bailout of 

Monetary Board. 200 million Australian dollars ($130 million) for the casino. 


Bloomberg New _ 

SINGAPORE — Development Bank 
of Singapore Ltd. said Monday that it 


which is controlled by the government 
and is the island state’s biggest bank, 
wiU spend $119 million to buy 268 


would buy control of Thai Dana Bank . million shares, raising its stake in the 


PCL in what would be the first majority 
ownership of a Thai bank by a foreign 
concern. 

Several other foreign banks also are 
seeking to buy , into cash-strapped Thai 
banks and finance companies. Thail- 
and's currency,. the. baht, was devalued 
July 2, sending it into a free fall against 
the U.S. dollar and triggering a crisis in 
Thailand's finance industry that led to 
the shutdown of dozens of companies. 

As part of the transaction, Thai Dana 
will sell 300 million new shares for a 
total of $133 million. The new shares are 
priced at 20 baht (45 cents) each, a 33 
percent premium to Thai Dana’s last 
traded price of 15 baht on Friday. * 

Development Bank of . Singapore, 


Teleglobe Will Offer Calling From Japan 


TOKYO — Teleglobe Japan Inc., the 
Japanese subsidiary of Teleglobe Inc. of 
Cahada. plans to provide international 
phone service in Japan by March. 

Teleglobe’s president in Japan, Koya 
Aoi, said users would be able to call to 
the United States for half the price of 
whal Kokusai Dcnshin Denwa Co., or 
KDD. charges now. KDD charges a 
daytime standard rate of 450 yen (about 
53.45)- for a three-minute call between 
the countries. Japanese phone compa- 
nies wfll deliver Teleglobe ’s phone ser- 


vices in Japan. Mr. Aoi did not say which 
companies would provide the service. 
Teleglobe Japan, established in Au- 


bank to 50.27 percent from 3.4 percent 
Government of Singapore Investment 
Corp. and another company relaxed to 
the government will buy the rest of the 
new shares. The three companies will 
own about 57 percent of Thai Danu 
Bank, die development bank said. 

. “Our aim is to be a leading bank in 
the Asia-Pacific region, with growth 
through strategic partnerships and al- 
liances as a major part of our strategy,” 
Ng Kee Choe, president of the devel- 
opment bank, said. 

The Singapore bank's purchase will 
“reinforce and strengthen” Thai Danu, 
which faces increased foreign compe- 
tition, finan cial liberalization and the 
restructuring of Thailand's finance in- 
dustry, said Pakom Thavisin, Thai 
Danu’s chairman. 

Credit Suisse First Boston, Nations- 
Bank Corp., Commerzbank AG and the 
Singapore stockbrokerage Vickers Bal- 
ias Holdings Ltd. are among foreign 
companies that have either announced 
purchases or said they are looking to buy 




gust, will provide international phone parts of Thai bonking and finance 
services in Japan by linking overseas - ' companies. 

a ■ -a — J Kimw IVir^1nnnU>nf Ront lirac nlflimino tn 




v *■ ... , ’ ' * • . WJpl 


business- designated circuits and lines 
owned by Japanese phone companies. 

AT&T Corp. of the United States and 
British Telecommunications PLC have 
said they are thinking about providing 
similar services. That would put more 
pressure on KDD, which once had a 
monopoly on overseas plume service, to 
cut rates. 


Development Bank was planning to 
increase its stake in Sri Dhana Finance 
& Securities PCL, but that finance com- 
pany was one of 56 that was shut down 
by die Thai government this month. 

Thai Danu will have nonperforming 
loans equal to about 133 percent of its 
total loans as of the end of December, 
Development Bank said. 


mrate 




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PAGE 18 


: INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


EUROPE 


Israel’s Boom Skips the Negev 




By James Rupert 

WkshwglOfi Pub Service 

OFAQIM, Israel — Israel Her man 
knows the good news of recent years 
about the Israeli economy. But in this 


1995. After that, the stalling of the 
Mideast peace process quashed tour- 
ism and, according to some analysts, 
hinde red domestic investment- This 
year, the economic decline in Asia 
has helped to flatten what had been 


depressed town on the dry plain of steadily growing Israeli exports. 

' the Negev, he hasn't seen it According to free- market econ- 

A boom that transformed and en- omists, growth slowed mainly be- 
nched much of Israel’s economy .cause the economy already had 


from 1990 to 1995 has subsided in taken advan 
the last two years. Even before it did, trinities creal 


e of the new oppor- 
by liberalization and 


terrorist attacks — damaged tour- 
ism, a sector that earned record 
amounts for three years after the 
1993 peace accord between Israel 
and the Palestinians. 

The effects of the diplomatic dead- 
lock on investment are less clear. Hie 
Bank of Israel reported net foreign 
investment of $2.6 billion in the first 
three quarters of 1997 — as much as - 
was invested in all of 1996. 

While the diplomatic breakdown. 




v-ywv^jnJS* j 


many parts of die economy did not privatization and was waiting for has poisoned politics and raised 
benefit. Israel started the boom by more. The state still owns huge fears of renewed Israeli-Palestmian 








5 M LEBANON 

GOLAN / 
7 HEIGHTS C 
f Israeli ■ f 

annaxed / 

Ml 


Sea on 
Galilee 


(Bet 

iShean 


benefit. Israel started the boom by more. The state still owns huge fears of renewed Israeli-Pales tinis 
dismantling ils traditional centralized dhunks of Israeli business. violence, a few factors have sin 

control and heavy state ownership of Banking and other sectors, in- tained investment, in Mr. Rosa 
the economy. Next, its 1993 peace eluding public transportation and oil bog’s view. Mr. Netanyahu “ispu 
accord with the Palestinians dis- r efining , are either monopolies or suing the right economic policies, 
solved the decades-kmg Arab boy- dominated by a few companies. In he said “The conventional wisdoi 


fears of renewed Israeli-Palestmian 
violence, a few fhetors have sus- 
tained investment, in Mr. Rosen- 


duding public transportation and oil bog’s view. Mr. Netanyahu “is pur- 


solved the decades-long Arab boy- dominated by a few companies. Id 


cott that had k 
isolated from 


this country semi- 
: world economy. 


addition., the government still owns 


he said “The conventional wisdom 
among investors is that the peace 

... i »• 


95 percent of the land; creating dis- process is not dead* 


Finally, a wave of immigrants from tomans in the real-estate market, . But other 


the former Soviet Union accelerated said David Rosenberg, editor of Je- vestment wo 


. But other specialists say that in- 
vestment would be greater if peace- 
making were not stalled In Ofaqim, 
Mr. Herman said, three of 15 po- 
tential investors have told him they 
are bolding np their plans because of 
concern that me faltering peace pro- 


investment flowed, and tourists 
flocked to what seemed to be a 
newly tranquil and hopeful land. 

In 1994 and 1995, gross domestic 


town of 24,000 in- the northern 
Negev near the Gaza Strip, that the 
limits of the recent boom are 
clearest Ofaqim chronically has 1s- 


spending and construction. rusalem Technology Investor, an in- making were not stalled In Ofaqim, 

Much of Israel's economy — no- vestment newsletter. Mr. Herman said, three of 15 po- 

tably a prosperous new high-tech- Prime Minister Benjamin Netan- tential investors have told him they 
oology sector — made the lew into yahu took office last year with, a are bolding up their plans because of 
the global marketplace, suddenly program of more liberalization, pri- concern that the faltering peace pro- 
finding new customers, especially in vatization and government budget cess could bring new instability. 
Asia. Through 1995, exports soared, cuts. But Mr. Netanyahu faces re- It is in places such as Ofaqim, a 
investment flowed, and tourists sistance from competing economic town of 24,000 in- the northern 
flocked to what seemed to be a interests among the half-dozen Negev near the Gaza Strip, that the 
newly tranquil and hopeful land parties in his coalition government, limits of the recent boom are 

In 1994 and 1995, gross domestic as well as from strong unions. clearest Ofaqim chronically has Is- 
product expanded about 7 percent The stalling of the peace process - rael's highest unemployment rate, 
before sliding back to 2 percent — as well as clashes and Palestinian currently 14 percent 
growth this year, according to of- *1 

ficial estimates. By the time the 

taJfc Asian Slump Cuts De Beers’s 2d -Half] 

to near that of Britons. 

But that transformation was fo- Bloomberg News the first six months of 1997 were a 

cused in central Israel, cm the coastal JOHANNESBURG — De Beers/ record $2.88 billion and allowed the 

plain between the Tel Aviv met- Centenary AG said Monday that company to report a full-year sales 
ropolitan area and Haifa, to the north, sales of its uncut diamonds have total of S4.64 billion, only 4 percent 
Here in the south, in the Negev, in slumped 16 percent in the second lower than last year's record 
what Israelis call a “development half of this year from a year earlier, Tumbling currencies, higher in- 
town” on the periphery of the conn- to $1.76 billion, amid the economic terest rates and slower economic 
try’s economy, the boom never ar- slowdown in Asia. growth in Southeast Asia and Japan 

rived The economy subsided partly De Beers, which also said it would all affected performance, in the 
because demand, after starting to become an independently managed second half, which was originally 
surge in late 1989 to provide basic company separate from Anglo Amer- expected to follow on the success of 
housing and goods for the 710,000. ican Crap., described the difference the first six months of the year, De 
Soviet immigrants who began ar.- between the first and second halves Beers said 

riving, fell when the influx ended in of the year as “dramatic.” Sales in “These expectations have been 


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tax. / 


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Asian Slump Cuts De Beers’s 2d-Half Diamond Sales 16% 


Bloomberg News 


JOHANNESBURG — De Beers/ record $2.88 billion and allowed the 
Centenary AG said Monday that company to report a full-year sales 
sales of its uncut diamonds have total of $4.64 billion, only 4 percent 
slumped 16 percent in the second lower than last year's record. 


half of this year from a year earlier, Tumblin 
to $1.76 billion, amid the economic terest rate; 
slowdown in Asia. growth in 5 

De Beers, which also said it would all affecte 
become an independently managed second hal 
company separate from Anglo Amer- expected tc 
ican Corp., described the difference the first six 
between the first and second halves Beers said, 
of tire year as “dramatic.” Sales in “These 


the first six months of 1997 were a significantly reduced as a result of 
record $2.88 billion and allowed the the continued recession in Japan and 
company to report a full-year sales the economic and currency prob- 
total of $4.64 billion, only 4 percent Iems which emerged from midyear 
lower than last year's record. in Korea, Taiwan and Thailand and 

Tumbling currencies, higher in- other Southeast Asian countries,'’ 
terest rates and slower economic the company said, 
growth in Southeast Asia and Japan De Beers, through its marketing 

all affected performance, in the unit, die London-based Central 
second half, which was originally Selling Organization, controls the 
expected to follow on the success of distribution of about 70 percent of 
the first six months of the year, De the world's uncut gem-quality dia- 
Beers said. moods. De Beers’s stock closed at 

“These expectations have been 100 rand ($20.57), up 0-50. 


Tumbling currencies, higher in- 
terest rates and slower economic 
growth in Southeast Asia and Japan 
all affected performance, in the 
second half, which was originally 



MS 


'These expectations have been 


Pernod to Sell 
Orangina Line 
To Coca-Cola 

CaapBri bj Oar Staff FtvmDapoKka 

ATLANTA — Cow-Cola Co. 
agreed Monday to buy Orangina, 
Pernod Ricard SA’s brand of car- 
bonated orange drink, for 5 billion 
French francs ($841.9 million) as 

partof its effort to build its beverage 
sales in Europe. 

Orangina’s worldwide annual 
volume is 52 million cases distrib- 
uted in 60 countries, and 80 percent 
of its volume is in Europe. 

The acquisition is the first major 
move at Coca-Cola since M. 
Douglas Ivester became chief ex- 
ecutive in October after the death of 
Roberto Goizueta... 

' * The ■ Orangina • brand has sig- 
nificant opportunity for future 
growth, not only in ‘Europe but in 
many other markets : around the 
world,” Mr. Ivester said. 1 ‘The truly . 
global nature of the Coca-Cola sys- 
tem will allow us to extend Or- 
angina’s reach even further.”/ 

L Pernod Ricard acquired Orangina 
internationally in 1981 and in 
France in 1984- 

The-sale will allow Pernod Ri- 
card, which makes Jameson Irish 
whiskey and Wild Turkey bo&rbon, 
to focus on its more profitable spirits 
businesses as that industry consol- 
idates. It could use the money -to buy 
some of tire brands that Guinness 
PLC and Grand Metropolitan PLC 
must sell 1 for antitrust reasons as 
they merge, analysts said. 

The. sale also includes four bot- 
tling and v concentrate plants .in . 
France. The brands- Orangina Plus, 
Orangina Light and Orangina 
Rouge are included in the agree- 
ment, but Brut de Pomme, Ricqles 
and Pam Pam are excluded. 

Trading in Pernod Ricard ’s 
shares was suspended Monday. 
Coca-Cola’s ; shares were up 50 
cents in late trading at $65.9375. 
Pernod Ricard shares rose 17 francs 
Friday to 339. • (Bloomberg. AFP) 


*** 1 

| 4500 * — — " 

i 390pjLjJjUi 6000 -Aj/H J 

/ row— ■— -ff— . wop'" 1 ’ jj" 

i aamt-A^b-N-D': J 0 

.-1997. 1997 


Paris 

CAC40 

8180“ jjj 

zh 

m 1 

2700 • 


v- > ... ... .. . v . ..... 


D- ^JASO NO 

1997 

Monday jfe* 

C3oso . Ctosa -Chaoga 

B84w82 S79.4& +0-61 

4J43.W- 4~W47S -1.0 8 
^21tLff7 -3.15&57~^L7g 


A 

*' 1" ' g 


/5SS 658.2* • ' ^1-ag 
9JM2Q 5MQ40 MXX 
9WM ‘ \8UM ^70 
ttnar ; 15931 . 

Z82&SO 

3WJ8 &Q80M 

1,249.87 -0.1R 
S.738JW 40108 


En3i5 HcraU Tribune 


V ' . -. a.73aj?4 40.88} S 

‘ m ~ 11 ' iMmMKwl HtnllTHtwf 

Source: Tetokurs ■ 

Very brieflyg 1 

• Austin Reed Group PLC. a British clotiring reedier, agreed 

to buy Country Casuals Holdings PLC for 135 pence per 1 
share; valuing ft £25.9 million ($43.2 million). 

• Barclays PLC will contract out the management of its £1 j 
billion property portfolio and reduce staffing levels in its L 
property-management business to cut costs. 

• Britain’s economy expanded 0.8 percent in the third quarter 
compared with the second quarter and 3.7 percent from the 
like period a year earlier. . 

• AO Lukoil Holding, Russia’s largest oil producer, said its 
nine-mouth net profit fell 8 percent, to 2.408 trillion rubles 
($405.2 million), as rising taxes hurt sales. 

• Eurotunnel’s shares soared after Britain and France agreed 
■to a 34-year extension of its lease to run the Channel Tunnel. 
Eurotunnel units, the equivalent of one share in Eurotunnel 
PLC and one in its sister company, Eurotunnel SA. rose 6 
pence, or 10.5 percent, to 63 pence in London, and climbed 65 
centimes, or 12 percent, to o.LO francs ($1.03) in Paris. 

« Credit Commercial de France SA will buy the 50 percent 
of Charterhouse PLC it does not own from BHF Bank AG 
.to expand its investment-banking business. Bhomhag 


A*. 

U 


WORLD STOCK MARKETS 


H&i Low am Pnr. 


Monday^ Dec. 22 

Prices fri local awrendes . 
Tetekurs 

High Law Qm Pro*. 

Amsterdam 

PmtoasOT.* 


ASN-AMRO 

Aegon 

AOoM 

ABO Nobel 
Boon Co. 

Bets Wesson 
CSMOO 
DonfedwPtf 
DSM 
E now 
F orfe A mer 
Grfraoics 
G- Bine am 
Hunaueiw 


Hooaovenscra 
Him Douglas 
INGGroop 
KUW 

knpbt 

KPN 

W 5 " 

OceGrinten 
Ptflps Eire 


RtndstadHdg 

ROUeco 

Bodameo 

RoBnai 

Roralu 

Ror«Dwdl 

un Lwcn 
VendaM 
VNU 

WnBenKIcw 


39-50 3U0 
17430 17160 
S2JQ 5030 
331 321 

6SA0 020 
3130 3170 
87 8430 
mm 104 
1B0« 17? 

3180 

8430 Bl» 
4530 4410 
51 49.80 
8380 8130 
34230. 337J0. 

83 8130 
7430 71 

8330 8030 
74 72JSB 
4430 4330 
81 7930 
4430 43 

4030 59 

22230 21430 
121 11530 
mm w 
77 74 

184 18X80 
930 5480 
172.10 17130 
121 120.70 
10733 105.10 
120 118.60 

104.70 10440 

9.70 5230 
25930 25480 


Bangkok 

A8« Into 5 k 
B angkok BkF 

ftrgsr 

Siom Conont F 
Stoot Can BkP 
Tdecornosla 

TMAkwan 
Thai Form BkF 


Bombay 

Ban Ante 
KMusI Lever 
HMuHPeAn 
bid Dev 8k 

nc 

MohononorTel 
Ra&oncelM 
stole 8k mao 
sadAotfxrtr 
Toto Eng Loco 

Brussels 

Abm9 

Bon tod 

BBL 

C8R 

Cotoryt 

DetoatnUon 

Eto dmhel 

EKcMna 

Forte AG 

GMt4 

GBL 

GenBanquo 

KrwBetoonk 

Pekafinci 

Bonertto 


1895 1850 

4720 4410 

9490 9430 
3415 3360 

18250 17875 
1855 1805 

8480 8400 
3445 3340 

7440 7500 

17M1 16TO 
5550 5390 

14335 16000 
16000 154ZS 
14300 140X5 
5340 5300 

10600 10075 
3400 3350 

2390 2250 

3135 3190 

122500 130000 


Copenhagen «**«■*«= *g-g 


Codon 
Danooo 
OenDamkcBk 
OS SvendbfO B 
OK 1912 B 

asiitoB 

KobLoBhovno 

NWNortiskfl 


9 ProVtouK 44M1 

457 449 457 470.06 

351 363 353 

980 998 990 

376 3S9 375 365 

877 860 877 87637 

J20000 4HOOO 412088 411 DOT 
295000 281718 293SM 387000 
ITS 15984 145 14521 

901.15 779 000 795 

915 874 915 880 

104784 1049 1056 1« 

425 414 425 430 

44434 433 445 447 

53946 497 505 503 


Frankfurt 


PAX: <04102 
Pnvtaaa4NU5 


AMonz 

ABOWI 

AMCokm 

BkBerfto 


CoiniMubank 
DautorBoa 
DMHM _ „ 


200 197 JO 
230 22150 
45J 447 JO 
120.10 117-50 
148 J 0 145 

4OS0 48 

40 JO 59 

Bk B 840 B 4.70 

tnokll 9 Jt > I 17 JD 
40.90 59.95 

7450 73 J 0 

5225 5070 

1220 1207 

Ik 7490 71 

114 11 U 0 

85J0 


Deutsche Bonk 1UJ0 122.10 
DeutTetetam XX 31,m 
DnutaorBaak 81J0 80S 
Fiwartu* 30* „W 


nkn Mod TILSHMJD 
324 314J0 
% 9133 
127 125 

M6U 10^ 10475 

71 67 JO 
40.12 SU0 
612 598 

7250 n 
1170 1040 
32.15 31 JO 
500 4M 
882 840 


Fried. Kmpp 

Qri» 

ISSS^ 10825 104JS 

Srf 

Had* 

Kona* 

Lohmeper 
Undo „ 

LufltawaR 

MAN 

Maiinmiwg p . _ ^ 

Mo kJ« ei eue io ft „31 g40 

KiRwdiR ^ 

preuoog S40 524 


BSkyB 443 

gh Low CtaM Piw. U4 

W 9OJ0 91J0 94.10 SSL™*" fjS 

513 505 50020 505 r^^nj . IjS , 

a on i « m man man Hlinnall COBIOI 1 U 8 


Schertm 174J0 172J0 173« 17620 

SGLOstnn 22850 220 228 219 


101 v *0 100.15 limss 100 JS raftmCrf- A«A 
Springer (AhCO 1290 1290 1290 1 312 SSSWSl 

Suottodter . Effl} 877 877 667 £|"*"S“F“F . 

Thyaoi • 381 373 JD 37550 335.90 

Vena 115 J 0 114 . 10 115.10 11470 

VEW 570 570 530 594 . |2 

Vta®. 945 948 955 979 JS 

Vtfcnangen 949 943 945 9 « rRnnn^.j.j^ 


Cable WMesx 537 


. 880 877 877 . 857 

381 373J0 37550 38190 

115J0 114.W 115.10 11430 SKS? 1 


570 

570 

570 

594 

965 

9® 

955 

979 

949 

943 

945 

9® 


Cbuitoulds 2.97 

Dtogoo 1 188 

OCana 6.05 

EfcUi mu n i ponente 458 
EMI Group 473 


Helsinki HExee*Mtod«aiM7 

ass • s 


EnsoA 

42 

41 X 0 

41 X 0 

41 

Hutrimakal 

210 

705 

200 

207 

Kii.nirn 

5090 

50 

50 X 0 

SOS . 

Kesko 

84 

83 

03 X 0 

Ki 

MwBoA 

- 28 X 0 

77 

28 X 0 

VS 

Metro B 

122 X 0 

1 Z 1 

172.90 

123 

Metsa-SeriaB 

® 

39 

39 JU 

® 


401 


Nokia A 3S3 341 376 358 hoh 

Orkn-yuyaae 135 131 135 135 HSBC HMa 

OulakuBiEW 6X50 62 43 6350 | a 

UPMKymmene 107 10230 104 11040 tonlTateaeo 

VtatoMT 74 7150 7340 75 Ktoafatwr 


fS3& 


LctkI See 1 Ql2D ■ 

Hong Kong HmSng:li™7 Unmo 248 

3 PnvtoOKlMOlIl Legal GonI Grp 115 

Ainm Prop* 4JS 640 455 445 

BkEusiAiia 1730 17.10 17J5 17S5 JjjKSMSg—. 

CathorPoanc 5J0 135 545 175 MpSr Sp * na!r 


Cheung Kong 49 JO 4740 4810 493B 

CKInlrpdrud 73-90 1935 2810 XW JSSSHS? ’frg 


Odna Light 

CMcPoSc 


Don Haig Bk 19.90 19 19.10 


SET todac 274.95 
Pn*iau:3Ba4 

238 224 230 340 

133 123 125 134 

11 MLS) 10.75 II 
*0 394 394 400 

3S2 348 348 358 

S3 51 5250 5350 
11JS 9.78 9.70 11 

<925 4850 4850 49JS 
9450 94 95 181 

19JD 1825 19J0 19.75 


"- 7V l7 " National Grid 2J8 

I 30^ 3ai PW« SMS 
19 1910 *20 JUST 1 ig 

tSmBlStoDe* 1850 WJ5 lo3 10H ^^ llJ,,fan J® 

Hang Seng Bk 7175 4975 7075 72 fog 

Henfcrwilrw 4MJ5 170 195 »05 Hi 

HtrofenooLd 36.10 315B MBO 3L30 w 

HK China Gas 1415 1380 14 1420 SSiSSi li; 

Mir cww 28.15 27JS is 2790 l!f 

n 's 'ts 

18450 18050 18350 188 J-2 

itS ftp sss «s«s p 

Johnson El Hdg 2220 21 JO 21 JO 2170 ^ 

Renv Prop 1280 1250 1180 1X50 2-12 

NwWbS'Do* 2190 25 2135 217® 

OiletdalPirai ’ <la n « n -w Kaawsiiags ui 

PuriOrianlol 
SHK 


Hang Seng Bk 7175 4975 7075 72 

Henderson liw 605 SJB 5.95 ®95 


HKT«toQMn 1120 1440 1470 1115 

HraeMflHdgs 1.92 175 183 1.94 

HS&CHito 18650 18050 18350 IBS SSTSL, 


46?S 4540 4190 46JB 

Hyson On 1570 1490 1495 1120 

JotuwmQHdg 2220 2120 21 JO 7170 


RaHrndcGp 
Rank Group 
Reck* Coho 


So«MB 38 todBC 34143d 
Pnstan: 354491 

425 612 421 40975 

1448140475141425 1395 
474 44450 
87 8475 8675 8375 
j18 9® 610 S892S 

36150 252 360 25C 

14475 I61J0 163 16075 

33150 237 33075 2Z5 

10 975 975 9.73 

289.75 28150 284 384 


BEL-38 tadae 2391-53 
Prartousi 34S43* 


Swire PacA 
Wharf Hdgs 
WhectoCk 


23X0 

25 

25J5 

2570 

2X8 

215 

2X5 

2X0 

0X6 

0X1 

0X1 

0X6 

54 

51 

51X0 

54 

2X5 

2.13 

115 

2X0 

4X0 

4X3 

4X3 

4X3 

5J0 

il« 

5.10 

5X5 

4DJ0 

39X0 

39X0 

®10 

16X0 

15X5 

16.15 

16.10 

885 

840 

8X0 

880 

Ceaipeste toduc 3SSJB 


Preston 378JS 

1500 

1450 

1475 

1525 

375 

3®j 

375 

350 


RoatasHdgs 
Renjai 
RT2 rag 


I860 1900 
4440 4480 

«570 mm 

3400 33SE 
17950 17900 
1805 1750 

8*20 8500 
3*00 3450 

am 

1700 1700 

5400 

16025 16175 
15700 I 5750 
14703 14400 
53*0 5250 

10075 10950 
3355 3300 

2160 ms 

3205 3*00 

121800 118000 


2L28 215 225 228 g^Hdgs 4g 

OM IU1 lUi IU6 S55" 

54 51 5150 54 « 

Hdgs 225 2.13 2.15 130 

448 423 433 453 ES'S** jj* 

5J0 510 5.10 5JS 7 Aa 

4020 3920 39.90 40.10 £9™“*°"** 

1470 15 AS 16.15 16.10 
825 860 860 820 SShSE 19J0 

_____ __ __ . sad Nowaulto 7.48 

Jakarta iSiSST IS 

Piotfcm(378JO sewn Trent 9.93 

Astro ino , 1500 1450 1475 1525 SheflTiaMpR 4 27 

Bktotilndoa 375 35C 375 350 1j-g 

BkNogara 550 50 a 5S0 525 

GodOTflGam. 8130 8000 8075 8100 gnHMgiw 6^ 

Imtocenenr 1675 1575 1675 1575 

todaiood 1900 1800 1900 1 875 |townJB« 

Imtosai 9400 9200 9400 9500 §”9” ”** 

SrenpoomaHM 4150 4000 ffl® 4150 677 

Semen Graft 3275 2900 3225 2900 TateAUft 497 

TetahHMdknsl 2825 3425 2800 3700 If*” 497 


Stogocoach 8.70 

Stcnd Charier 627 

Tbte&Lyte 497 

Tesco 497 

ThamnsWotor 480 


31 Group ill 

Johannesburg zw 

Previous: 604926 Un0e¥er 

ABSAGnup 38 2725 2720 2720 UJdteOTWra 527 
‘ Cool 22320 222 223J43 222 Utd News 7.15 

19140 192 193J0 194*0 ™ 

179 in 179 171 Itewtome Lxuh 4ffil 

AngtaAm tod HOI 117^0 11928 11820 } ^ one . 

Pkri 6920 6950 4950 69 JO Mlfltorad., 9-» 

sag 540 575 5J0 WWtamsHdg* 

4050 40.15 4040 4050 ^15 

19 1850 1925 18.95 WPPGTOUJJ Zg 

100.40 96.10 100 9950 Zeneen 2022 

3X30 3105 3110 33J05 




«40 m MM 40 

7.15 7J08 7.14 7.11 

70 6190 70 


A 

Bartow 
CG. Smith 
Do Boors 
Dristorteto 
FstNaflBk 
Gcfxor 

GFSA 70 6820 70 

Imperial Hdas 50.90 50 51.10 

IngireCOal 17 14A 16J» 

hear 146 142 155 1 

Johnnies Indl 4950 4880 4950 

LRxrtyHdgs 324 316 

' 119 115 

15 1480 1 * 

82 79 82 8220 

15 1450 1490 1485 

WOO 10550 10620 10750 

Rembrandt Gp 3150 3325 34 35. 

Hdunoal 5250 5X30 5140 5340 


I 444 455 

I 121 128 

I 447 462 

I 151 150 

I 10.10 1027 
I 124 126 

! SJ8 522 
i 428 413 

453 447 

I 159 822 

I 726 737 

293 293 

i 558 520 

6 598 
I 453 456 

I 470 461 

' 425 665 

I 522 521 

i 164 .168 
! 1061 1020 
i 356 393 
> 1X3* 1225 
I 1417 1395 
9JJ7 Mi 
324 122 

; 425 4X7 

'-73P~T3r- 

! 754 793 

1452 1443 
921 9.16 

IN 194 

825 825 

269 268 
967 963 

266 266 
5iM AM 
7M 726 
114 2.06 

555 180 

568 5.15 

1684 16.95 
289 287 
: 526 527 

10.18 1063 

622 653 

178 324 
269 262 

653 651 

772 765 

122 123 

857 8.13 

407 413 

721 720 

927 921 

324 136 

952 955 

144 144 

651 593 

252 264 

624 664 

253 252 

7.17 496 
862 750 

224 2.15 

763 720 

553 594 

1X9 324 

485 684 

1895 1851 
728 764 

S16 526 

250 253 

993 958 

424 416 

11.19 1155 

1.79 155 

6.19 *55 

826 825 

552 48* 

410 855 

665 661 

49* 494 

483 483 

174 825 

559 555 

454 471 

296 295 

488 459 

524 515 

755 655 

7 64 725 
470 460 

428 434 

890 893 

X43 3 <81 

491 492 

266 X64 

9n.ro -pi jU 



Hlgli 

Low 

Oase 

PtW- 

High Law aan 

Prav. 


High 

Low 

Clue 

Ptw. 

Bca Cernm ltd 

57® 

5400 

57® 

5500 

PlnouR-Pifnt 

30® 

2985 

3067 

2902 

ABBA 

09X0 

07X0 

88 

89 

BeoFfcMmnn 

7430 

7710 

7415 

7230 

namodes 

2380 

2315 

2364 

2315 

AssDasasffls 

189 

183 

188X0 

188 

Bca dl Room 

1577 

1SZ5 

1575 

1535 

Renault 

169 JO 

164 169X0 165.10 

Astra A 

13150 

138 ■ 

131 

132X0 

Benetton 

28450 

27750 

28650 

Z7700 

Rexel 

1768 

1730 

1747 

1750 

Altos Copco A 

226 

217 217X0 

221 

CmBtofttfano 

5245 

5125 

5150 

5160 

Rh-PcutoneA 

260 253X0 259X0 25950 

Antofiv 

270 

250 

251 

255 

Edison 

104® 

10050 

10395 

10060 

Sanofl 

626 

616 

620 

617 

BedrotuxB 

SSS 

- 530 

536 

549 

ENI 

9795 

9ns 

9770 

9725 

Schneider 

304 

299 

300 301X0 

Ericsson B 

283 274X0 

200 

274 

Flat 

5020 

4915 

4995 

4915 

SEB 

805 

777 

805 

790 

ForentojgSpor 

HanoesB 

182 

176X0 

177 

178X0 

Ganarof Asslc 

42000 

41150 

42000 

42100 

SG5 Thomson 

360 333X0 35450 316X0 

336 

326 

335 

330 

Ml 

202® 

19605 

20)90 

19850 

Sfe Generate 

833 

818 

823 

826 

tooBaBreA 

<97 

670 

697 

693 

IMA 

3425 

32® 

3430 

3230 

Sodexho 

31 Ml 

2980 

3022 

3020 

torestorB 

375 

365 

369 

370 

MCruKHni 

TWO 

6830 

TWO 

6910 

StGotaia 

827 

810 

822 

810 

MaOaB 

•2D9 

205 207X0 

206 

8300 

8200 

8250 

8230 

SuexCOe) 

15X0 

15X0 

15X0 

1580 

PhantiUprohn 

ScnrMkB 

302X0 

278 281X0 

273 

Medabanoa 

13400 

12660 

13400 

13020 

Suez Lyon Eaux 
SvntoMabo 

651 

634 

647 

MB 

222 

218 

219 

219X0 

Montodbaa 

1525 

1480' 

152T 

1481 

752 

735 

7® 

7*2 

Samlo B 

175 

170 

171 

173X0 

asrettl 

1041 

1006 

1041 

1005 

Thomson C5F 

18580 

176X0 185X0 

182 

SCAB 

169 

159 

169 

170 

Pamsalat 

2370 

2315 

2345 

2345 

Total B 

630 

607 

625 

612 

S-EBankenA 

97 

94X0. 

96 

94 

Pina* 

4550 

4420 

452® 

4470 

Uslnor 

81X0 

78X0 

SM0 

81X0 ' 

StamfioFoo 

393 

380 

380 

390 

HAS 

16475 

16010 

16435 

16100 

Valeo 

385 375JS 381.10 377X0 

Sbmska B 

322X0 

. 318 320X0 

320 

RotoBwioa 

24900 

24300 

24900 

24450 






SKFB 

159 

154 

158 

157 

SPuatoTodna 

16900 

16250 

16900 

16510 






Store A 

97X0 

95X0 

97 

96X0 

Tetooon iSaBo 
TIM 

10900 

7930 

10685 
- 7605 

10900 

7850 

10700 

7590 

500 Pau, ° ■HaSBH- 

Sir HatdBte A 
VWvaB 

280 

217 

275X0 275X0 
207 215 

277 

200 


Montreal . 

Bee Mob On 
Crki Tire A 
CdnUIDA 
CTfinlSn: 

Gar Metro 

GMMUto 

Investors Grp 
LoUawCos 
Nall Bk Canada 
PemrOsp 
Power FW 
OuebeairB 
Rogers CnnunB 
Royal BkCda 


lmw mto toto iiBB3i95.il 
— Pwrionu 3175117 

36 35 36 34.15 

OM 2920 30Vk 2855 
.10 -ffl.90 4190 am 
31* 531* hm 54 

135 17.90 1825 179S 
39 37 JO 38 3314 
160 5IM 5065 5020 
180 4430 4460 4460 
6U 26V7 26« 2620 

L15 ' 23W 2455 2110 
LIS 4969 4960 50 

m 48M 48K 4850 
60 2725 2765 2725 
55 7 755 655 

6*4 7460 7465 7495 


OBXhdac 60950 
PmtoOS: 65821 


BrodescoPtd 960 9.10 960 960 
Brotona PM 71050 71050 71050 71050 


Tha Trlblndmx 

Jan, 1. iesa*J» Level . Change Nctiwige ywloWM 

%ch*nge 

World Index ' . 16821 +02S .+ 0.15 +12.78 

Regional Indexes 

Ask^PadSc 91.99 —3.40 —3.56 —25.47 

EUrcpfl 18B28 +029 +0.47 +17.17 

N. America 213.45 + 227 +1.07 + 31.78 

& America \ 142.90 . +2.60 +125 +24.88 

IndwaorW Indexes 

Capital goods 204.30 +121 +0.94 +19-53 

Consimier goods 204.56 +0.78. +0J8 +26.72 

Energy 19050 +025 +Q.45 +11.59 

Finance 120jfi - L35 —1.11 ' +3.26 

Miscellaneous 14354 — 0.33 — 023 — 11 26 

Raw Materials. 15920 +0.89 +0.56 —923 

JncfaL — 1M., — *1.25 l 

umas 16320 +022 . +0.20 + 1425 

71»Mtoma(tona/HBmM71tiiuna Wortd Stock Index O {racks the US. doRarvatoa 
atZSOktoinntioiiatiy investofite stocks/nm 25 countitGs. Formers in/omuppa 
a tree baokM is avaHeblB by writing to The Triblnaox. tBi Avenue Qurias M 
QeoB*. 32521 muBtyCadOK. France CompJod by Bloomberg News- 


Pnoaa as of 3.00 PM Naw York wo 


CESPPM ‘ 
Cope! 
EMrobroc 
Itoubaooo Pld 
Light SefwJai 


MabnsPfd 

Paufsta Lm 

SMNodoral 

SoasiCna 

TetafarosPM 

ilefenig 

TefcaJ 

TetospPM 
Urdbanco 
Usiminas PM 
CVRD PM 


Seoul 


AkerA 12260 121 12260 122 

Bwgesen Dy A 175 173 173 178 


55JO 57X0 
1X50 1250 
5400 5350 
54850 gam 
400.00 39500 
24250 24052 
23250 22450 
14250 13860 
3060 3050 
N.T. 860 
12820 11360 
11460 11250 
9860 99.10 
28150 26751 
4260 4150 
545 543 

1980 1950 


Owpaslkiodoie 39454 
Preston; 40819 

77400 45*00 73840 60SM 


Sydney . ■ M<M*akB«ui 

, J -Preston: 25X8.10 


Amcor 

ANZBUng 

BHP 

Bond 

BroraWesInd- 

CBA 

CCAmaH 
ColesMyer ■ 
OomdCD 
CSR . 

Raton; Brew 

GobdumFU 

IQAustmkfl 

Lend Lease 

MIMHdfp 

NotAOTBOnk 

Ktf Mntaol Hdg 

NeesCnp 


660 -460 
9J5 945 

1175 1X4B 
170 365 

2960 29.10 
1735 17X0- 
11X0 11 

761 7X5 

660 '63® 

559 '552 
2.90 253 

265 232 
1054 1031 
2963 2860 
0X7 092. 

2832 2814 

266 - 261 • 
855' 7.90 


657 660 

960 9X5 
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INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


RAGE 19 































































































Itcralb 'SEgritranc 

Sports 


PAGE 20 


a * 


TUESOAy, DECEMBER 23* 19$j 


orld Roundup 


Vasco Wins in Brazil 

Sprint Into Sydney With Two 0-0 Gan ies 

sailing EF Language over- 

Draw Also Gives River Plate Argentine Crown 


SAILING EF Language over- 
hauled Swedish Match just outside 
Sydney on Tuesday to win the thud 
leg of the Whitbread Round die 
World Race. 

EF Language sprinted into 
Sydney Harbor doing 14 knots and 
reached the finish line, dose to the 
Sydney Opera House, five minutes 
ahead. 

The next five other yachts fin- 
ished within 35 minutes of one an- 
other. Swedish Match was 53 
seconds ahead of die third-place 
Chessie Racing. 

Paul Cayard, the EF Language 
skipper, and his crew took 9 days 9 
hours 9 minutes 20 seconds to com- 
plete the 2^5 0-mile leg from Fre- 
mantle and take the overall lead 
from Innovation Kvaemer, which 
finished fifth in the leg. (Reuters) 


CarjAkd In Ov Stiff From Diiparkn 

Vasco da Gama won the Brazilian 
championship for the third time in an 
instantly forgettable final against Pal- 
meiras in which both legs ended in goal- 
less draws. 

Vasco won the title because It bad the 
better overall record. It played with the 
rulebook in one hand as it adopted a 


Sooth Ami 


Holyfield to Fight Lewis 


boxing Lennox Lewis, the 
WBC World Champion, and 
Evander Holyfield, the WBA and 
IBF world champion, agreed Mon- 
day to a £33 million ($50 million 
dollar) unification fight in Las Ve- 
gas on April 25. (Reiners. AFP ) 


India Beats Sri Lanka 


cricket Sachin Tendulkar hit 
82 not out Monday in Gnwahati, 
India, to propel India to a seven- 
wicket victory over Sri l-anicn in the 
first of three oae-day matches. 
Robin Singh had taken five wickets 
to restrict Sri Lanka to 172 for nine 
in its 45 overs. ( Reuters ) 


Italy Slalom Slope Melts 


skiing A men’s World Cup sla- 
lom in Madonna Di Campiglio, 
Italy, was called off Monday be- 
cause rising overnight tempera- 
tures ruined the piste. (Reuters) 


Red Cards for Linesmen 


SOCCER Two Israeli linesm en 
came to blows in a taxi and had to 
be separated by a referee, the 
Ha'aretz newspaper reported Mon- 
day. 

Shai Ossidon, who has just been 
awarded an international badge, 
told Reuven Gino: “I am going to 
officiate in . Europe and will do 


defensive formation even though it was 
playing at home in the Maracana sta- 
dium in Rio de Janeiro in front of 95,000 
fans. 

The double stalemate was an appro- 
priate end to a competition that has lacked 
a credibility since it started in August 
The Brazilian Football Confederation re- 
instated Flummense and Bragantino, thp 
two clubs relegated last year. AdetiCo 
Paranaenese was also allowed to take part 
even though it had been suspended- fol- 
lowing a match-fixing scandal in April. 

There was confusion before Sunday’s 
match. Edmundo, the Vasco striker, es- 
caped suspension for the second leg 
thanks to a loophole in the rules. 

Edmundo had picked np his third 
yellow card of the competition in the 
first leg in Sao Paolo. Three yellow 
cards carry an automatic suspension, 
but Edmundo was sent off later in the 
game. A red card does not cany an 
automatic ban. 

On Saturday, a disciplinary tribunal 
decided that be could play, so Edmundo 
benefited from being sent off. 

On Sunday, Vasco defended. The tac- 
tic worked in the first half, but after the 
break Palmeiras created a string of 
chances. Carlos Germano, the Vasco 
goalkeeper, made two top-class saves 
but was also booked for time-wasting, 
which summed up his team’s approach. 

Edmundo, who has scored a record 29 
goals in the competition but who has 
also been sent off seven times this year, 
hit the crossbar with a free kick and had 
a shot cleared off the line. 

Argentina River Plate gained a 1-1 
draw against Argentum Juniors on 
Sunday to win the Argentine league by 
one point It was River’s record third 
consecutive league title and its second 
trophy in a week. It beat Brazil’s Sao 


Paulo on Wednesday to win South 
America’s Super Cup. 

River finished the season one point 
ahead of its arch-rival, Boca Juniors, 
which beat Union by 4-0 on Sunday. If 
River had lost, it would have had to play 
off against Boca. 

Marcelo Salas, River’s Chilean 
striker, broke the deadlock after 41 
minutes with a powerful header from a 
cross by Sergio Berti. 

It was Salas’s 10th goal in 16 games. 
Salas has attracted attention from top 
European clubs. He recently rejected a 
move to Manchester United, the English 
champion. Now he is reported to be on 
his way to Italian club Parma in a multi- 
million-doliar move. 

River was made to suffer Sunday by a 
determined Argentines team, which hit 
the post before equalizing on 76 inm ates 
with a goal by Roberto Saavedra. 

chile Colo Colo of Santiago 
clinched the strike-hit Chilean cham- 
pionship while sitting at home on Sat- 
urday when second-placed Universidad 
Catolica could only draw, 1-1, with 
Cobreloa. 

On Sunday, Colo Colo celebrated by 
th rashing provincial side Temuco, 4-0. 

The championship was twice halted 
as players went on strike to protest about 
what they said were dismal working 
conditions. 

Colombia America of Cali players 
lost their shirts after clinching the 
Colombian league title Sunday. Fans 
invaded the field after their team beat 
Bucaramanga, 2-0, in the second-leg of 
the playoff final and stripped the players 
nearly naked. 

Hundreds of supporters broke 
through a police cordon when the final 
whistle went and stripped the players of 
their uniforms and jewelry. 

Undeterred, die team completed a lap 
of honor, using flags and any thing else 
with the team's red colors to cover 
themselves. 

America beat Bucaramanga in the 
second leg of the final before a 35,000 
crowd in Cali to win, 3-0, on aggregate. 
Bucaramanga had never finished above 
third in the competition. 

Two Bucaramanga players received 
red cards, and it finished with nine men. 

(AP. Reuters ) 


duty-free shopping in London 
while you will have to make do 
with Asbdod and Ashkelon,” two 
southern Israeli towns. 


Spanish Referees Cry Foul Anew 


Gino apparently frilled to see 
anything hinny in the statement 
Referee Eyal Tzur and the driver 


had to break up the fight (Reuters) 


Knievel Finds Golf Risky 

Evel Knievel, 59, a retired dare- 


devil. has had a hip replacement 
operation after a fall on a Florida 


operation after a fall on a Florida 
golf course three weeks ago. 

Knievel broke at least 35 bones 
and underwent suigery 14 times in 
his stunt career. 

“The doctors said they had never 
seen a worse hip,’ ’ he said. (AP) 


Reuters 

MADRID — Spanish referees were 
under attack again Monday, two 
wedks after going on strike in protest at 
abuse from players and club officials. 

Jesus Gil, die president of Atletico 
Madrid, and Lorenzo Sanz, president 
of Real Madrid both criticized Miguel 
Perez Lasa, the referee of a match 
Sunday, in which Atletico lost by 3-1 
to Barcelona, die league’s leader. 

“I think there was an agreement for 
them to score goals in the second 
half,” Gil said “The referee must 
have been drunk.” 

Sanz, whose team is second to Bar- 
celona, said “The referee demon- 


strated that he's got faults of ability 
and personality.” 

A linesman suffered a concussion 
at the Second Division match between 
Atletico Madrid’s B team and Al- 
bacete when a bottle of water thrown 
from the crowd hit him on the head 

The Fourth Division match b &- 
tween Pegoso and Santa Ana was held 
up for 15 minutes after the crowd 
pelted a linesman with stones after the 


A spectator leaped from the crowd 
at the Pueita Bonita- Moscado Third 
Division match and punched the ref- 
eree in the stomach, then escaped 
without being arrested 


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The Palmeiras defender Junior, left, and the Vasco da Gama striker Evair battling in Brazil's championship. 


: i _»T** M 

* ** «i 




n* -Vt-. r ."J 

& • 


Klinsmann to Rejoin Spurs on Loan 


t-Wfc 


Reuters 

LONDON — The German striker 
Jurgen Klinsmann is returning to the 
English Premier League team Totten- 
ham Hotspur on loan for the rest of the 
season, the club said Monday. 

Tottenham also appointed one of its 
former managers, David Pleat, to be the 
team’s director on Monday. Pleat led the 
team to the Football Association Cup 
final and third place in the league in May 
1987, before resigning the following 
October. 

Pleat was fired as manager of Shef- 
field Wednesday last month. For Tot- 
tenham he will be responsible for scout- 
ing and contracts, the team said. 

Klinsmann. 33, currently plays for 
Sampdoria in Italy’s Sene A. He played 


for To ttenham, a north London clnb, for 
one season, scoring 29 goals and win- 
ning the Footballer of the Year award. 

During that season Ossie Ardiles. an 
attack- mind ed coach, was fired and re- 


placed by Geny Francis, a more cau- 
tious manager. In May 1995, Klinsmann 


tioos manager. Ih May 1995, Klinsmann 
Left for Bayern Munich. 

Alan Sngar, the team’s chairman, was 
deeply upset, accusing Klinsmann of 
breaking his contract. Sugar went on 
television with Klinsmann’s team shirt, 
which he crumpled up and tossed away, 
announcing that he would not wash his 
car withit 

Klinsmann replied by saying that 
Sugar would not make sufficient funds 
available for the Tottenham to contend 
for the league title. 


Klinsmann was popular with faijs 
during his brief spell in London. His 
subsequent seasons at Bayern and 
Sampdoria proved far less happy. - t 

Tottenham, which is third from the 
bottom in the Premier League, recently 
replaced Francis with Christian Gross. 
Klinsmann is said to have recommen- 
ded Gross, the former coach qf 
Grasshoppers Zurich, to Sugar. ; 

Klinsmann is represented by Andy 
Gross, a Swiss lawyer who is not related 
to Christian Gross but was reportedly , 
involved in the coach's negotiations 
with Tottenham. 

Tottenham's three leading strikers — 
Chris Armstrong, Les Ferdinand and 
Steffen Iversen — all have injury prob- 
lems. 


• '•*<*£ 

• l! 

i nw 




-wir* 

l 

* 

ki 


P»< *~v- 

E 



Scoreboard 


BASKETBALL 


NBA SrANomos 


Vancouver 55 (Abdur-fiaMm 141- As*Ws- 
— Portland 21 (5ataorti 65, Vancouver 18 
(DanMsQ. 


uumNcomma 

* — ’xmamcunsoH 


Major College Scores 


Mherrf 

Ortondo 

PMw Yoik 

» 

16 

15 

L 

8 

10 

11 

Pet 

680 

615 

sn 

«■ 

114 

214 

New Jmey 

13 

11 

JS42 

3V4 

Boston 

12 

12 

-500 

4% 

Woshtagtoii 

13 

U 

681 

5 

PhaodefeMo 

6 

18 

-2SD 

1(M 

CENTRAL OnmON 
Attardo 19 7 

3V, 

__ 

Indiana 

17 

8 

680 

116 

Chicago 

16 

9 

640 

2V4 

Oevetand 

16 

9 

640 

ZH 

Oxjrfatte 

15 

9 

■625 

3 

MBwauftee 

12 

13 

680 

6M 

Defrrtt 

12 

15 

644 

7V4 

Toronto 

3 

Z3 

.115 

16 

w—i— w cowfiniq 


■DWESTomsaN 
W L 

Pet 

6S 

Houston 

Id 

8 

636 

— 

San Antonio 

15 

10 

600 

44 

Utah 

15 

10 

600 

M 

AAimnata 

11 

13 

658 

4 

Vancouver 

10 

17 

370 

616 

DaSas 

5 

20 

300 

KM 

Denver 

2 

22 

xm 

13 

Seattle 

MORE DIVIStON 

n s 

608 

_ 

LA. Lotas 

20 

6 

369 

1 

Phoenix 

15 

8 

652 

4V4 

Porttand 

14 

10 

683 

6 

Sacramento 

9 

17 

346 

12 

Golden Stale 

5 

18 

-217 

1414 

LA. dippers 

5 

22 

.185 

16V4 


JoaKtSLeuerto Rlca-Mnyasuez 96. 


A-Sehmne 27 (Kortjm, Dalgneautfl 3, SJ.-» 
MacLean A {Houlder, fflesen) (pp). Secmrt 
Perfafc S J.-MocLecm 5 (Haufcta Frtexen) 5, 
A-Sehmte 28 (Kcufya RucdWn) 6 SJ_ . 
Rogflamon 1 {Frfewn, Mod) (pp). TWrt 
Parted: None. Shots an gaol: SJ.- 12-14- 
- A>^U-7-8-^a - C SU.-VeiTMn 

. ArHebprt 


Wnslringtan 35, PtritadeipMo 32 
Tennessee 14 PtHstrargti 6 . 

Arizona 3% Aflanta 26 

JadaonvMe20iOafclond9 
Dttrona New York Jt±i 10 


Id F.rects a 

dM's Mar 


OenVer 3& San Uepa 3 .. 
S«ta A San Fividiico 9 ’ ~ ’ 




ICE HOCKEY 


FOOTBALL 


CRICKET 


NHL Standings 


NFL Standi nos 


New Jemy 
PW ta d ri pWa 
Wtasidnoton 
N.Y. taftudea 
N.V. Rangen 
Florida 
Tampa Bay 


ATLAimC HV13ION 

* l T PH 

23 10 1 47 

I 20 9 7 47 

16 13 7 39 

a 15 15 S 35 


10 16 12 32 


y-NewEnotand 
y-Miomi 
N.T. Jets 

Buffalo 

imBanapoPs 


PMstwipii 

Montreal 

Boston 

Ottawa 

CareAna 

Buffalo 


12 19 5 29 
f 7 21 6 20 

NORTHEAST HYHHON 
W L T PIS 
10 II 8 44 

19 14 4 42 

16 14 6 38 
IS 17 4 34 

13 IB 5 31 
12 16 « 30 


x-Pfthborgh 

pJadaonvHe 

Tennessee 

CMnnafl 

Baffmare 


Utah 23 n 30 26-181 

Oevetand 16 29 30 31— TO* 

U: Malone 8-17 8-10 24. Keeta 7-14 2-4 14c 
C Kemp 7-13 10-1424, DAndereai 3-6 16-16 
23. (Mboreids— Utah 52 (Mdone 133, deve- 
kmd 46 (Kemp 11). AssistB-Utati 28 (Stodt- 
ton, Homocek 6), Owefand 21 (KnbM7). 
LJLdtoperi 20 26 IS 13—77 

Bostea 19 27 20 33—99 

Uu RdJtepere 8-13 3-3 2ft Wright 4-11 6- 
8 14; B: Walker 8-25 6-6 23, Bturas 7-1 32-2 17. 
RaboanOs — Los Angeles 57 (Wright 19). 

BastonSS (Waflcr IS). Assists— Los AngeMs 
20 (MaltowaU 5), Boston 26 (Waflan-5). 
Partheta 25 18 25 18- 86 

Vancouver 14 22 24 26-88 

P: Rider 7-71 3-3 19,5at»fl»s5-n MltaV: 
Abdur-Rahbn 9-20 9-15 28. Edwanhi 5-7 A4 
15. Beboonds— Porttand 51 CGmnt 9 i. 


comwi D(V18tON 

W L T PH 6F M 
Dnlas 24 9 4 52 118 77 

DetroU 20 9 7 47 118 91 

St. Louis 21 12 4 46 109 86 

Phoenix 14 16 t 34 97 102 

Taranto 12 17 5 29 78 93 

Chicago 11 17 7 29 77 86 

WU3FTC DIVISION 

W L T Pts GF GA 
Colorado 18 8 11 47 110 93 

Los Angela 14 14 6 34 101 97 

Son Jose 14 18 4 32 91 100 

Anahetai 12 18 6 30 02 111 

Edmonton 11 17 8 30 83 103 

Vancouver 11 20 5 27 103 122 

Calgary 10 20 7 27 93 111 

Wirt — 8IHT8 
Buffalo 1 1 0-4 

PLY. Rnogan . 8 0 0-0 

rast Period: Beaten 15 (HofaSnger, 

WooJey) (pp). seared Porto* B-Poai 7 
(Ward. Dawe) Thfrt Period: None. Shots on 
goal: R- 10-7-6—23. NewYbrk 6-16-11—33. 
GatMuK B-Hasek. New Ybric Rfchter. 
S«Jo*e 2 2 0-4 

Awtota 1 1 8-2 

Rat Period: SJ. -Craven 8 (fafrate) (sld-Z 


x-KamasCfly 

y-Denver 

Saatttc 
Oakkmd 
San Diego 


EAST 
*11 
9 6 0 
9 6 0 
9 7 0 
6 10 0 

3 13 0 
CENTRAL 

11 5 0 

11 S 0 
8 8 0 

7 9 0 
6 9 1 
WEST 

13 3 0 

12 4 0 

8 8 0 

4 12 0 
412 0 


PeL PF PA 
^00 355 277 
-600 327 313 
-563 348 287 
375 2S5 367 
.188 313 401 


BUUVI.WUUIU 

1ST Of 3 ONE -DAY efTERNAnONALS 
MOMMVMCUWAXXn 
Sri Lanka: 172.9 In 45 were 
Indkcl 73-3 to 37J overs 
India wan by seven urtdnts. 
AUSTRALIA A VS. SOUTH AFRICA 


Hi It 11 t x 4 


-688 372 307 
-688 394 318 
-500 333 310 
438 355 405 
406 326 345 


UONOAY In HhSBAHE 
Soulti Africa: 458-9 and 220-7 
Australia A: 330 and 122- 1 
Match ended in a draw. 


SOCCER 


‘■■he.- 

• uf§m 

'*** 

• \*-» 
■'.W ■ 




813 375 232 
-750 472 287 
JOO 365 362 
350 324 419 
-250 266 425 


x-N.Y. Gtorts 
Washington t 7 1 531 

PhOadeiphia 6 9 1 406 

DaSas 6 10 0 .375 

Arimna 412 0 .250 

aamtAL 

x-GreenBoy 12 3 0 513 

y-Torepo Bay 10 6 0 625 

y-Defroit 9 7 0 663 

y-Mbmesata 9 7 0 663 

Chicago 4 12 0 .250 

WEST 

X-SanRandsca 13 3 0 613 

Carolina 7 9 0 438 

Atlanta 7 9 0 438 

NewOrieans 610 0 675 

St Louis 511 0 613 

x-won division fillo 
. pdnehed ptoyoif berth: 

SUNDAY'S utam 

□ndraraf! 16, BaUfmare M 
Tampa Bay 31, Chlaaga 15 
Mlnhesota 39, Indianapolis 28 
Kansas dtySS. New Orleans 13 
New York Giants 2a DaBas 7 


EAST 

W L T pa 
10 5 T 656 


Colorado 

Los Angeles 

Son Jose 

Anatehn 

Edmonton 

Vancouver 

Calgary 


Pts GF GA 
47 no 93 
34 101 97 

32 91 100 
30 82 111 
30 83 108 
27 T03 122 
27 93 111 


x-GreenBay 
y-Tampc Bay 
y-Defroit 
y-Mbmesata 
CMcaga 


7 9 0 438 
7 9 0 438 
610 0 375 
511 0 J13 


SHUItSH FUST DIVmOH 

Real Madrid Z Esponyoi l 
Tenerife a Real Sactodad 0 
PTAMMiKMe Barcelona JO pobit* Real 
Madrid 3ft Real Sededod 32; Cotta Vigo 31; 
AtWettc Bilbao 31; Arietlco Madrid 3ft Ep- 
ponyal 29j Real Betis 76. Mallorca. Real 
Zaragoza 24; Racing Santander Oviedo 21 
Vtaenda 21; VOBodalid 2ft SatamanctL Meri- 
da 171 Depariivo Coruna ComposJeto 16 
Tenerife 15; Sporting GI|on 3. 

RMJAN FUST MVISIOH 
AC Milan ft Bologna 0 
PTAHDWQS; filler Milan 30 points Ju- 
ventus 2 9s Udnese 36; Parma 2& AS Rom 
23; Lazio 21; Horentfna AC MBan 2ft- Sam- 
pdorio 1ft Vicenza lft Brescia 14;Emponift 

Bofogru Piacenza Bari 12; Atatanta 11; Lec- 

celft Napoli S. 

PMAOVAYAN aUUmoKWP 

FWAL. RETURN LJEO 

Olimpia l, Cena Porteno l 
. oranpia won 2-1 an aggregate. 

Both qualified for next Ubertcdores Cup. 
WA M UAW «HAim » ioitwroi 
FINAL RETURN LEG 
Vasco da Gama ft Palmeiras 0 
Aggregole scare: OG. Vasco do Gama won 
on haring the better overall record hi ram- 
peSTton. 







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INTERNATIONAL HERALD TRIBUNE, TUESDAY, DECEMBER 23, 1997 


PAGE 21 


SPORTS 




Putting Football 
Into Perspective 

Peck Injury Casts a Pall 
Over Lions 9 Special Day 


By T. J. Simers 

- Lps Angeles Times Service 

“ PONTIAC, Michigan — It 


said. “The first 72 hours after 
such an injury are impor- 
tant.” Colton said Sunday 
that Brown had movement in 


was the most electrifying af- his arms and legs.} 


teraoon, the most horrifying 
and the game went on wit 


[ Asked if Brown's career 
was over. Colion said: “I 


* 1 $ conflicted emotions, tears and guess yon could malm that 


joy, amid the events that 
would marie the day as one of 


tioa." Bobby Ross, 
roit coach, had visited 


the most memorable in the Brown in hospital. “Reggie 
Detroit Lions’ history. was very happy that we won 

.. Barry Sanders rallied his the game,” Ross said. “It 
team in the fourth quarter, wasn’t a long conversa- 
blowing past the 2,000-yard lion.”} 

'mark for the season, and the On Sunday, in the after- 
Lions defeated the New York glow of their gritty victory. 
Jets, 13-10, to a do-or-die the Lions’ players and 
game to advance to the play- coaches, awaiting news of 
offs. Brown, found it difficult to 


game to advance to the play- 
offs. 

.. But how those words rang 


transfer their thoughts from 



hollow — do-or-die — after . his injury to their victory. 


many players on both teams Even Sanders* fourth- 
stood and kneeled to prayer quarter performance of 112 
around Re g gie Brown, a De~ yards rushing with the gnttift 


Sanders’ fomtb- 


4* &_«■». I 


S|H 


trs 


troit linebacker, while team on the line to roach 2,053 
^ doctors performed mouth- to- yards for the ^ac on . joining 
■ .mouth resuscitation on their O. J. Simpson and Eric Dick- 

‘ '■ fallen teammate, who had lost erson as the only players in 

consciousness. NFL history to top 2,000 

{ "If you are a praying per- yards, faded to prompt much 
son, I would hope you would celebration, 
gray hand, very hard,” said “I’m worried about Reg- 


consciousness. NFL history to top 2,000 

“If you are a praying per- yards, foiled to prompt much 
son, I would hope you would celebration, 
pray hand, very hard,” said "I’m worried about Reg- 
Ross. gie Brown’s family,” said 

Brown, 23, who did not Sanders, 
move or breathe on his own “I’m exhausted,” said a 
for several minutes after tack- Lions’ receiver, Johnnie Mar- 
ling a Jets* running back. Ad- ton, who sprinted the length 
nan Murrell, early in the of the field and up a tunnel 
fourth quarter, was placed in beneath the Silverdome’s 
an ambulance and taken to a end-zone stands, frantic for 
nearby hospital. an ambulance that seemed too 

' [Brown had neck surgery slow in arriving. "I was so 
on Monday, the Associated scared, and they weren’t 


Brown, 23, who did not 
move or breathe on his own 
for several minutes after tack- 
ling a Jets’ running back, Ad- 
rian Murrell, early in tire 
fourth quarter, was placed in 
an ambulance and taken to a 
nearby hospital. 


Press reported from Detroit. 
Dr. Robert Collon, a team 
doctor, said die operation was 
to fuse the first and second 
vertebrae of Brown’s neck.] 

* [“At this point, it is hard to 
say how serious and how per- 
manent his injury is,’ ’ Collon 


moving. I grabbed one of toe 
medical guys’ bags and just 
tried to make them hurry. 

“I couldn't stop crying," 
Morton continued. “Reggie 
wasn’t moving, and I saw 
them cutting through his jer- 
sey, his pads and then beating 



Ual f a iyh ril/ \focr- Faun— m> 

Members of the Jets kneeling in prayer as the Lions’ Reggie Brown is loaded into an ambulance at midfield. 


on his chest to get him to 
breathe.” 

The Liras tied toe score, 
10-10, sparked by a 47-yard 
gain by Sanders on the final 
play of toe third quarter. A few 
plays later Brown was hurt. 

“It was just like a flash- 
back to see him laying there, ” 
said a Liras’ defensive line- 
man, Marc Spindler, who had 
witnessed a similar scene six 
years earlier when taarmwaH* 
Mike Utley was left para- 
lyzed after trying to block 
Houston’s David Rocker. 

Spindler said he heard Col- 
ton say that Brown was not 
moving. "Panic set in on toe 
whole sideline right away, 
and guys were yelling and 
screaming and then everyone 
just started praying,”'Spind- 
ler said. 

As team physicians from 
toe Lions and Jets began ad- 
ministering to Brown, players 
met to several groups on the 
field, dropping to their knees 
with arms draped around each 
other’s shoulders. 

After players prayed on toe 
field, die Jets met on their 
sideline as the ambulance re- 
mained at midfield, coming 
together for another prayer, 
while toe lions gathered 
around an emotional Ross. 


“It was hard, but I called 
the team together and said we 
had 1 1 minutes to play and we 
need to go on, ” sard Ross. “It 
was so hard.” 

When play resumed, toe 
Jets made progress against the 
Lions, advancing to toe Detroit 
9-yard line with toe opportu- 
nity to regain toe leal Bill 
Parcells, toe Jets coach, called 
fora halfback option pass. 

Leon Johnson, running out 
of room while nearing toe 
sideline, tossed a pass into the 
end zone and into the waiting 
hands of the Lions’ rookie 
coraerback, Bryant West- 
brook. 

Westbrook juggled toe 
bah, and juggled it again 
while foiling out of bounds, 
and then juggled it again. But 
the official also failed to grasp 
toe play, ruling that West- 
brook had made the intercep- 
tion although replays clearly 
showed he was out of bounds 
while still not in control of toe 
ball. 

Oh well, toe argument for 
instant replay will come at the 
owners annual meetings in 
March, too late to save toe 
Jets, who must take satisfac- 
tion in bouncing back from a 
1-15 season a year ago to fin- 
ish at 9-7. 


With 2:15 remaining, 
Sanders reached the 2, 000- 
yard mark with a two-yard 
gain. He then busted free for 
53 yards on toe next play, 
finishing off the Jets and 
sending toe crowd into a 
frenzy. 


The Lions’ victory elim- 
inated both toe Jets and toe 
Washington Redskins from 
playoff contention. Detroit 
will bead to Tampa Bay for a 
first-round playoff game 
against the Buccaneers on 
Sunday. 



Y 

- ;; ' -rr 



Viking s Rebound 
Into the Playoffs 


HrJxmi OwL/flrulm 

The Lions’ Barry Sanders scampering to a 53-yard gain. 


The Associated Press 

The Minnesota Vikings 
ended a five-game losing 
streak in time to clinch a play- 
off berth on the last weekend 
of the regular season. 

The Vikings, 8-2 before 
their losing streak, beat In- 
dianapolis, 38-29, on Sunday. 
Minnesota’s highest score of 

NFL Roundup 

toe season was built on Ran- 
dall Cunningham's four 
touchdown passes, three of 
them to Cris Carter. 

In Dennis Green's six sea- 
sons as head coach the Vik- 
ings have reached the play- 
offs five times, but they nave 
yet to win in toe postseason 
under Green. 

Cunningham, who will be 
the fifth quarterback to start a 
playoff game with Green as 
coach, threw three intercep- 
tions, but his teammates forced 
five turnovers from the Colts’ 
backup quarterback, Kelly 
Holcomb, who played parts of 
the second and fourth quarters 
when Jim Harbaugh was hurt. 

Broncos 38, Chargors 3 A 

week after one of his worst 
games, John El way threw four 
touchdown passes for Denver. 
The victory gave the Broncos 
borne advantage for the first 
round of the playoffs. 

Otters 16 , steoiars 6 Ten- 
nessee ran for 156 yards, be- 
coming toe third team to ex- 
ceed 100 yards rushing this 
season against Pittsburgh, toe 
AFC Central champion, which 
has a bye next weekend. 

Bengal* 16, Ravens 14 

Boomer Esiason threw two 
touchdown passes for toe 
Bengals, who relegated toe 
Ravens to last place in toe 
American Football Confer- 
ence Centra]. 

Cardinals 29, Falcons 26 

Jake Plummer threw a one- 
yard scoring pass to Larry 
Centers with five seconds left 


for the Cardinals, completing 
a fourth-quarter comeback 
from a 26-14 deficit 

Jaguars 20, Raiders 9 The 

Raiders concluded their wont 
season since going 1-13 in 
1962, the year before Al Dav- 
is took charge. 

Saahanafcs 38, 48m 9 War- 
ren Moon threw for 232 yards 
and four touchdowns, giving 
him 3,678 yards passing for 
toe season and breaking Dave 
Krieg’s team record of 3.671. 
San Francisco’s Gary Ander- 
son, in his 16 th NFL season, 
made three field goals and has 
385 in his career, breaking toe 
record of 383 held by Nick 
Lowery. 

In games reported in late 
editions Monday: 

Redskin* 35, Eegles 32 

Darryl Pounds stripped toe 
bail from Bobby Hoying, toe 
Eagles quarterback, on a 
comerback blitz and returned 
it for a touchdown. Then Dar- 
rell Green returned an inter- 
ception 83 yards fora score as 
Washington took a 14-0 lead. 
But toe victory was too late to 
get it into the playoffs. 

Buccwwt 31, Bears is 

Tampa Bay gained the vic- 
tory it needed to clinch its first 
home game in the playoffs 
since 1979. Karl Williams 
scored twice, once on a 61- 
yard punt return, and Warrick 
Dunn had 1 19 yards, includ- 
ing a team-record 76-yard 
run. 

Qiants 20 , Cowboys 7 At 

Texas Stadium, quarterback 
Danny Kanell led New York 
to a 20-0 halftime lead. The 
Giants then rested its starters 
for next week's playoff game 
but still held on to win com- 
fortably. 

Chiefs 25, Saints 13 Elvis 
Grbac. who missed six games 
with a broken collarbone, 
warmed up for toe playoffs by 
going 5-for-14 for 5 1 yards in 
cold, wet .weather in Kansas 
City. 


Hasek Erects a Garden Wall 
As Sabres Blank the Rangers 


- T. , 
f . 


Miirif WEM 


The Associated Press 

Dominik Hasek . shut -out toe- New 
York Rangers to gain bis first victory at 


mt * 


fcS&Ui** Hasek made 33 saves as toe Buffalo 
Sabres woa,<241, on Sunday night It was 

' * HWHoumdmr , 

. his fifth shutout in the last 16 games 
after foiling to come up with one in toe 
w*-«- first 14. It was also the second straight 
•- ' shutout for Hawk, who stopped 
Montreal, 1-0, Friday night He has 
gone 128 minutes 45 seconds without 
allowing a goal. 

^gJPPuJlJ" In the second period, the Sabres were 
■B^***^, outshot by 16-7, yet still, managed to 
ou tscore toe Rangers, 1-0, on a goal by 
Mike Peca. 

* Thai gave toe Sabres a 2-0 lead, more 
than enough toe way Hasek and the 


Sabres’ defense were .playing.. .The 
-Sabres’ - penalty-killers stopped six - 
power-play attempts by the Rangers. 

“It was a very hard-working game,” 
said Lindy Ruff, the Buffalo coach. 
“You could tee toe desperation on the 
special teams, toe penalty-killers were 
diving in front of stuff and diving lo get 
toe pack out I think desperate was toe 
word for our team.” 

Sharks 4» Mighty Ducks 2 John 
MacLean scored twice, and Jeff Friesen 
had three assists as San Jose won in 
Anaheim. 

Murray Craven also scored and de- 
fenseman Marcus Ragnarsson got his 
first goal of toe season on a power play, 
helping extend San Jose’s unbeaten 
streak to seven games. 

/ Teetnu Selanne scored both of Ana- 
heim’s goals to increase his league- 
leading total to 28. 



v my 

41 



Rsn Knazz/RcWcn 

Utah’s John Stockton landing on 
Cleveland’s Wesley Person after a 
lay-up shot in the fourth quarter. 


DENNIS THE MENACE PEANUTS 


A Groggy Kemp Elbows Jazz Aside 


The Associated Press 

Shawn Kemp might recall this vic- 
tory over Karl Malone as one of his 
sweetest, although he is going to have to 
watch the replay first. 

Kemp had 24 points and 1 1 rebounds 
to lead toe Cleveland Cavaliers over the 
Utah Jazz, 106-101, Sunday night, re- 
covering from a near-knockout blow 
from Malone just in time to put away his 
old nemesis from toe West 

Kemp was led to toe locker room in a 
groggy, stumbling stupor after catching 
an elbow in toe head from Malone as toe 
power forwards fought for a rebound. 
He missed only a couple of minutes of 
play and returned to lead his new team to 
victory — but said be could not re- 
member much of it. 

“He got me somewhere good,” said 
Kemp, who played eight years in Seattle 
and battled Malone’s Jazz for Western 
Conference supremacy. “I’m still try- 
ing to figure out where. I didn’t have it 
all together, that’s for sure.” 


Malone had 24 points and 13 re- 
bounds in a losing effort, despite nearly 
scoring a knockout on Kemp. 

“I knew I hit him, but I didn't know 
what happened,’ ’ said Malone, who then 
criticized toe officials. “I guess there 

were a lot of people that didn’t see a lot 
of things out there tonight.” 

Kemp and Malone were wrestling for 
a rebound in toe fourth quarter when the 
Mailman’s elbow connected hard with 
Kemp’s face. 

Like a boxer hit with a knockout 
punch, Kemp collapsed to toe court and 
lay on his stomach writhing in pain. No 
foul was called. 

Malone dunked with Kemp still on 
toe ground to pull the Jazz within two 
points. The Cavs called a time-out, and a 
wobbly Kemp was led to the bench and 
then to the dressing room. 

Cleveland led by 90-87 when Kemp 


returned. He and Malone traded jump- 
ers over each other. Then Malone 
missed with Kemp guarding him. 

Kemp was fouled at toe other end and 
made both free throws to give the Cavs a 
98-93 lead with 43 seconds remaining. 

Celtics 99, clippers 77 Antoine Walk- 
er scored 23 points, including a key 3- 
pointer at toe end of toe third quarter, as 
the Boston Celtics improved to .500 for 
the first time in two years. 

Walker’s 3-pointer at the third- 
quarter buzzer gave Boston a 66-64 lead 
and triggered a 32-10 run (hat broke toe 
game open. The Clippers scored only 13 
points in toe final quarter. 

Walker also grabbed 15 rebounds, 
but shot only 8-of-25 from the field. 

Grizzlies 88, TVail Blazers 86 Shareef 

Abdur-Rahim had 28 points and 14 re- 
bounds as Vancouver snapped a three- 
game losing streak. 

Abdur-Rahim went 2-for-10 from the 
field in the first half, but found toe range 
in the second half, making 7 of 10. 


CALVIN AND HOBBES 


THE FAMOUS W0RU? WAR I W0ULP IT HELP IF I HELD 

FLYING Ace looks lonely.. his paw for awhile? 


LIKE MAYBE 
UNTIL 1918? 


/1-Z3-97 


WELL. I’VE DECIDED I DO 
BELIEVE IN S*NTN OAUS, 

- j. — \ H0 MMTERWM 
l PREKStEEDUS 
.lVlE33JNDS.^ 


NVW 

CONVINCES) 

. VCUL. > 


* SIMPLE 

as* 

, Am-vsis. . 


I WANT PBESBffS. LOTS 
CF PRESENTS. WWV RISK. 
NOT GETTING TOEM OVER 
A MATTER OF BELIEF? 
HEOC, IU BELIEVE WflHW 
TUEi WANT. 


HOW CVNICAU* 
ENTERPR\5«¥& 

OF V00. 




r 1T& THE 
SPIRIT OF 
attSIMASc 




- _ V 








ART BUCHWALD 


The Santa Hearings 


Staying Put: Arts Are Flourishing in Ireland 


W ASHINGTON — If 
Santa Claus doesn’t 


VV Santa Claus doesn’t 
show up at your house on 
Christmas morning, it won’t 
be his fault He hasn’t been, 
confirmed by tire Senate Ad 
Hoc Holiday Committee. 

Although the nomination 
was made several years ago, 
the chairman 
has held Claus 
hostage to bills 
he wanted pass- 
ed in Congress, 

Dick Zinger, 
who’s the lead- 
er of the “Slop 
Santa” move- 

Buchwald" 

‘ We will fight 
the Santa n omina tion with 
our last breath. We want to 
-know where he stands on gun 
control, abortion and prayer 
in school — and also where 


point one while Congress is in 
recess?” 

“He'd better not try iL The 
country will be up in arms. If 
he attempts to climb down 
someone’s chimney without 
Senate approval, we’ll call 
out the Chariton Heston 
SWAT team.” 


By Alan Riding 

K»f* Tows Service 


D UBLIN — For most of this century it 
was easier to find Irish artists nroclaim- 


J_y was easier to find Irish artists proclaim- 
ing their Irishness in London, Paris and New 
York than in Dublin. Quite simply, exile was 


preferable to the poverty, isolation, censor- 
ship and self-doubt prevailing at home. 

No longer. Today, Irish culture is flour- 
ishing as never before; impressive new talent 
is flowering in writing, movies, theater, mu- 
sic, art — and now it is happening in Ireland- 
This cultural renaissance is more than a func- 
tion of the irrepressible creative gifts of the 
Irish. It has come about because the country as 


“I always thought the po- 
sition of the country's Santa 


he tilts on global wanning.” 
“Doesn’t the president 


“Doesn’t the president 
have the right to name his 
own Santa Claus?” 

■ “Yes. and we have the 
right to consent to the nom- 
ination. The Santa up for the 
job is known as a giveaway 
bleeding heart who will go 
over budget as soon as he 
takes office.” 

“Can’t the president ap- 


sition of the country's Santa 
laureate was nonpartisan.” 

“It was until the president 
appointed Bill Lann Lee to 
lead the Justice Depart- 
ment’s civil rights division. 
Then it was decided we 
wouldn’t pass on anyone. 
The anti-Santa people mean 
business.” 

I called Santa on his cel- 
lular phone. 

“Does it bother you that 
you haven’t been confirmed 
by the Senate?” I asked him. 

“I haven’t given it much 
thought. The job has to be 
done, and if die Republicans 
refuse to confirm me they are 
committing political sui- 
cide.” 


donkey and church.” as one pam&M V* £ 
Today, a newly urbani 2 ed country ‘ S 
bombarded by 
has become transfixed by 
society where drugs, violence ami Mnjgj 
have »ken root. This mny “”£2? 

rich raw material, but it & also disqUMing. 
Where is it all leading? _ . ^ 

For all die iheatricaluy of its gnuid 
trance, new Ireland has been ^ dKflBbfl| 


SmimJSSi country joined the Euro- 
pean Community. As £ ’“""TJ * £ 


gyrations, the Ropuhhcj of rretorf began . 


a whole has experienced a metamorphosis. 

In barely a decade, the old Ireland chat 


to receive massive aid to modernize its roads, 
airports and communications. By the mid- 
1980 s foreign investment was pounng in, 


In barely a decade, the old Ireland that 
Wilde, Joyce and Beckett were so eager to 
flee has been replaced by a prosperous Ire- 
land, brimming with optimism and self-con- 
fidence, in which artists have pride of place. 

“Ireland in the 1970s bears very little 
resemblance to Ireland today.” said Sebasti- 


attr acted by cheap labor and tax incentives, 
Bytoc eariy 1990s, Ireland could boast 
Europe’s fastest-growing economy. «* P*r* 
capi ta income even exceeding Britain s. 

And more than the economy was changing. 
Increased spending on schools btoughi a 
marked rise in educational standards, while 


an Barry, 42. one of several playwrights who 
has made his name in the 1990s. “It used to 
be so depressing. Not oppressive tike Eastern 
Europe, just horribly unimpressive. It’s al- 
most a new nationality now.” 

For Irish artists, the change has brought an 
extraordinary sense of liberation — from the 
need to emigrate or the certainty of penury if 
they stayed home; from the shadow of the 
Roman Catholic Church and old-fashioned 
nationalism; from die straitjacket of the past. 

Today, they feel free to express them- 
selves. They are eager to be heard. And they 
are being rewarded with growing recognition 
abroad. 

“If you surround huge areas of expression 
with silence for so long and then a society 
suddenly opens up,” explained Colm Toibin, 


‘Titanic’ Opens Big 


Washington Post Service 

- LOS ANGELES — “Ti- 
tanic, “ the film epic that once 
looked as if it might sink un- 
der toe cost of its production, 
Survived its opening weekend 
bat still has a long way to go 
before turning a profit. 

: Supported by a vast adver- 
tising campaign, good reviews 
and wide media coverage, the 
movie, which cost about $200 
million, took in $27.6 millio n 
it the domestic box office over 
die weekend according to Ex- 
hibitor Relations, which 
tracks industry earnings. 


“Does that mean the Re- 
publicans will get fewer 
presents than the Demo- 
crats?” 

“It has nothing to do with 
party. The only legal question 
is u a person has been 
naughty or nice.” 

“How do you know?" 

“One of my reindeer is a 
special prosecutor.” 

4 ‘Will most of the gifts you 
distribute be paid for with 
hard money or soft?” 

“With soft money. I can 
give only a minim al amount 
of gifts with hard money — 
but there is no restriction on 
how much I can hand out for 
educational purposes.” 

“You’re a very generous 
person.” 

“Why do you think the 
president appointed me Santa 
Claus?” 


depopulation of the countryside accelerated. 
Meanwhile, the power of the Catholic Church 


was crumbling, fondly size was shrinking and 


divorce was finally legalized. The old political 
•cwMishment. in cower since the 1930s, was 


establishment, in powe . 

losing its hold on the country. Even traditional 
hostility toward Britain began to wane. 


“In the 1970s, we stiU had an inferiority 
complex toward the English,’ explained Mi- 

chael Colgan, the director of the Gate Theatre 

in Dublin, “and we measured our Inshness 
by how much we hated them. Bui in the 
1980s, a series of ‘accidents,’ like winning 
die Eurovision song contest and beating the 
English at soccer and U2 being on the cover 
of Time allowed us to expand our chests. - 

A scene from “The Beauty Queen of Leenane” at the Druid Theatre in Galway. Mandtepn' l ° 

&, “a lot of share an obsessive need to look at Ireland and the Irish A coherent arts policy airo emerged under Prone 





suddenly opens up,” explained GoimT oibm, iuuui ^ M . . 

42, one of several newly successful novelists, “a lot of share an obsessive need to look at Ireland and the Irish A coherent arts policy also emerged . . 

people are going to start writing clearly and dramatically, through fresh eyes, to explore subjects that were long taboo, Chades Haugbey between 1987 and 1 W-. insn ana igr 
That’s what has happened here. When people talk of the to strip “Irishness” of its nationalistic and romantic myths creators were already enjoying tax-free status in truana _ 
death of the novel, i laugh. hi Ireland, it’s reaching a heroic and see what is left an Aits Council had been m place smee I 97 j. But Haugnej 

phase, like in Britain and France 150 years ago.” Plays and movies are Haring to examine the civil war that created the Museum of Modern Art and the [National Museum 


recognize 
old and n< 


al power of the Catholic Church and the oppression 


The arts world and its hangers-on were even given their 


The search for answers runs through much creative ac- instruments — say, the drama of movies, die humor of plays 1 cries, movie production offices, restaurants and pubs 
tivity hoe today. New Irish novelists, playwrights, movie- or the symbolism of visual art. galore. The artists of the ’90s are being pampered like 

maters and visual artists cannot be slotted into a single The social upheaval of the last 10 years also poses a minces by a succession of governments that see the arts 
category because their concerns are so varied. Yet many challenge to artists. Gone is the old rural Ireland of ‘ * cottage, boom as proof of their own success. 


BOOKS 


PEOPLE 


Christmas Tidings and Warm Feelings, With Marketing 


A N idea bom of watching 
Bosnian war scenes on 




By Doreen Carvajal 

New York Times Service 


N EW YORK — This is the season when the 
novels of Richard Paul Evans are as pop- 


.1 x novels of Richard Paul Evans are as pop- 
ular as shiny ornaments, and the tireless former 
advertising executive is spreading more good 
tidings than a shopping mall Santa. 

At 35 — slender, fresh-faced and unpre- 
tentious — the Utah native is a rather unlikely 
Mr. Yuletide. But Evans, by dint of his own 
promotional and storytelling skills, has come 
to dominate a vast market for contemporary 
Christmas fiction with carefully packaged and 
priced holiday melodramas that have sold 
millions on the strength of wet-handkerchief 
sentiments of mourning and healing. 

Two of the books in his Noel trilogy — 
“The Christinas Box" and “The Letter” — 
are relentlessly climbing the New York Times 
best-seller list With almost 3.5 million copies 
in print, success has also spun off nearly a 
dozen Christmas clones right down to the 
profiles of some authors who mirror Evans: Ric 
young Mormon writers from Salt Lake City 
with a reverential view of the family. “It’s a 
mission,” Evans said of his 31-city book tour to 
promote his books. “The books really do affect 
people and they change lives. I really do want to 
change the world. People come to me sometimes 
and I think, man, do you need this book." 

"The Christinas Box” — the first in the initially 
self-published series — is a stray of a preoccupied 







A r DjjM • . .. ... 

, • ■ . . . . * \ : • ! . j ■ t « .■ * : :Si *.* *. f.’i . 


Uuml&WTlM-IVK&riL 

Richard Paul Evans during his book-signing tour. 


Evans makes sure to reach out. In die publishing 
industry, he is considered a consummate master of 
marketing. From a Salt Lake City office, herons an 
elaborate network — independent of his publisher, 
Simon A Schuster — simply to promote his books. 

Two angels, holding lanterns, guard the entrance 
to the brick Victorian mansion that is headquarters 
for Richard Paul Evans Publishing. The work force 


young businessman (also named Richard) who moves of five, including Evans, has divided into the same 


his family into a Victorian mansion to help care for an 
elderly widow. In die attic, he discovers a mysterious 


sorts of roles as in a professional political cam- 
paign. It was in such campaigns that Evans got his 


box that leads to revelations about the widow’s post advertising and marketing experience. 


and her loss of a 3-year-old daughter, Andrea. 


Some critics mourn the high teardrops-per-page 
do or the indulgent use of terms like "ardent” 


ratio or the indulgent use of terms like “ardent” 
and “gasp.” The stray is a 1990s update of “A 
Christmas Carol,” featuring a man who puts his 
business activities above everything else, accord- 
ing to Stephen Nissenbaum, a professor of history 
at the University of Massachusetts, who notes that 


Like any savvy poL be maintains a computer data 
base, with the names and addresses of more than 4,000 
readers who have corresponded with him. Postcards 
are sent to fens, alerting them to new titles. 

Callers are referred by recording to one em- 


E loyee who handles scheduling, another who 
aridles promotions and a receptionist who doubles 
as a coordinator of special events. A fourth em- 


Ebenezer Scrooge came to care about larger social ployee, Evans's brother, Barry, is in charge of other 
problems while this narrator realizes his young office matters and manages a company spin-off. 


daughter needs more quality time. 
Yet Evans’s words nave provided 


some measure 


Arcadia, that is developing a Utah resort. 

In addition, there is a secretary who assists 


of comfort to grieving parents who have buried their Evans's parents, David and June, with running a 
children, prompting disparate families in Nevada charity from their Sait Lake home called. The 


children, prompting disparate families in Nevada 
and New Jersey, Idaho and Wyoming to organize 
angel monuments similar to a fictional statue that 
shadows the grave of the child, Andrea. 

Emotion may be what touches his readers, but 


charity from their Sait Lake home called. The 
Christmas Box Foundation, which is raising money 
to create a shelter for children who are abused or 
need temporary housing. 

On Dec. 6, the fictionaidate of Andrea’s death, the 


publishing firm organizes a candleli ght service 
for grieving parents at a cemetery. It gets heavy 
television arid newspaper coverage. 

“There’s a lot or pathos,” said Evan 
Twede, Evans's friend and former partner in a 
political advertising firm. “And that obvi- 
ously sells to a stray editor. So where Rick 
goes, he’s creating stories and you have all 
these things working for him. But if it’s a 
marketing strategy, it's completely inadvert- 
ent. He’s doing this oat of the goodness of his 
bean. He doesn’t need the money and he’s on 
a mission to heal people.” 

Even the story of Evans’s meteoric rise in 
publishing has become fodder for another 
warm Christmas parable recounted by the 
author in sincere, folksy tones punctuated by 
the plaintive notes of a piano. 

His publishing company produced a free 
two-hour radio program this year about the 
story behind the “The Christmas Box,” 
which they distributed along with free books 
r-r. to 896 radio stations that broadcast the special 
around Thanksgiving. 

Between commercial breaks, Evans de- 
scribes a tale of The Little Book That Could. 

In 1992, during a lull after the end of a political 
campaign, he said he wrote a slim novella for his 
two daughters about a busy father who comes to 
appreciate the fleeting preciousness of childhood, 
vowing to devote more time to his daughter. 

The books were distributed as Christmas 
presents to his six brothers and one sister. Demand 
grew from 20 books to 20,000. In 1995, what had 
been a self-published book was the object of a 
fiercely contested auction that ended in a $4.25 
million contract with Simon & Schuster. 

What Evans does not talk about during the radio 
program is the complex impact of sudden success 
on his circle of family and mends. 

In his special program distributed to radio sta- 
tions. Evans recalls that even his young daughter, 
Jenna, pointed out that he seemed to be ignoring the 
message of his original book as be was leaving for 
a four-week book tour “Why did you write a story 
about spending more time with your children ana 
now you’re leaving?” she asked him. 

Since then, he said he bad tried to take his own 
message to heart, taking his wife and three daugh- 
ters on some of his trips. 

As Dec. 25 approaches, it is beginning to feel a 
lot like the end of a long, frenetic campaign. 

“You know what it’s tike when the tour ends,” 
Evans said. “There’s a transition team. The ur- 
gency is gone. You take longer lunches.” 


television became reality as 
foe tenor Luciano Pavarotti 
and several friends came to 
Mostar to open a music 
school for which they raised 
$5.8 milli on. The tenor de- 
livered a message to the chil- 
dren of Bosnia:“You saw foe 
honor of the war. Try to 
maintain peace when you 
grow up.” Pavarotti and his 
friends dipped their hands in 
• p w-n l red and blue paint and 
pressed them against a wall in 
the school’s concert hall then 
signed their names next to foe 
handprints as children’s chor- 
uses from foe region sang. 

Surrounding the renovated 
school in foe Muslim eastern 
sector of Mostar are scars of 
the bitter fighting between Pavarotti, w 
ethnic Croats and Muslims. 

The Luciano Pavarotti Music Center will of- 






f / 

l 


V»Lm Untlw Vjvt h<"y|Vi^ 

Pavarotti, with paint-covered hand, at Mostar schooL 


1 CENO 


to see and be seen, so Goyenvalle’s retirement 


_ . * — — — ~ w «uu w S1.VU, au uu>tllYdlK S ICU1CIIKUI I' 

fer music education and music therapy for marks, in a way, foe end of an era. Limits on {> ■■ » l\ , 
Bosnian children. — • _i ; i-i-i- 1 


expense-account dining and changing drink- 

mo hahiK HiH nnt holm ‘ *Tt V ...... 


In Hcirano, Italy, foe former Formula One 
world champion Michael Schumacher pot 
just what he wanted from his team for Christ- 
inas — a tittle red 30-year-old Fiat 500 — 
once foe average Italian’s basic transporta- 
tion. It is a far cry from foe Ferraris he usually 
powers around racing circuits, but Schumach- 
er was happy. “This was my first car and I 
always wanted to have another,” he said at a 
squad Christmas party, then he leaped behind 
the wheel and did a couple of laps on Ferrari’s 
test track. “It’s great,’ he said. 


''■Hi, 




When Jean -Pierre Goyenvalie came to 
Washington in 1960, dining in die capital 
meant mainly fish houses and steak jomts. 
Then John F. Kennedy was elected and Goy- 
envalie, then cbef at the Rive Gauche in Geor- 
getown, found he was in foe right place at the 
right time. Almost 38 years and two restaurants 
later, French cuisine has lost out to other styles 
— Mediterranean, Italian and fission. So Goy- 


Since the death of Diana. Princess of 
Wales, foe names of her two sons, William 
and Harry, have boomed in popularity. After 
checking nearly 4,000 birth notices in its pages 
fois year. The Times on Monday said the name 
Wil liam had doubled in frequency in Septem- 
ber compared with any other month before 
Diana s death, while the choice of Harry had , 
jumped by a third. Charles was down by the : I 
same amount, foe paper said, reflecting a 
public backlash against Prince Charles im- 
mediately after his former wife’s death. 




envalle, 60, is hanging up his toque, at least 

now. He has closed Le Lion d*Or, which he 
opened in 1976 as a successor to foe smaller 
Jean-Pi ene, to which he moved from Rive 
Gaucbe in I97L His restaurants were places 
where politicians, lawyers and lobbyists went 


cted and Goy- Spain’s ttaditional Christmas lottery save 

hrSfaS^S Tiv L2 ™ on . Monday, including? $270 
ffwui prize known as El Gordo (The 
mrSS ODe) ’ Schoolchildren chimed out foe win- 

tx> other styles rung numbers of the jackpot that will be 

SetefS«£ cS? y w? dere of a licket soW hi 

•C* wh£h£ wher e winners celebrated in foe 

tartTSw nckets with the winning num- ’ 

to foe smaller ben 43728. Francisco Gamarra’s unlem of 

to * e staff at his hairdressing 
s ^f”\P lace ^ “ton suddenly turned from a goodwill ses- 
obbyists went tuie mto a $124,000 Christmas bomis 




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