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INTERNATIONAL 


9 

f 



Eribu 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


The World’s Daily Nowspaper 


Paris, Satuirday-Sunday, February 15-16, 1997 








1 


1 


Rebels Advance 
On Broken City 

KisanganVs Latest Cahunity 


By Howard W. Rrench 

New Yori Times Service 


KKANG ANl, Zaire — TTie old yacht chib lies in niins 
m the banks of the mighty Congo» just like the Hotel 
^ grand old pal^ whm Humphrey Bosart 
the filming here of “The A£ncan Queen” 
m 1950. ^ 

Even the central post office, whose imposing size 
mousands of rusting inm mailboxes rec^ an era of soda! 
energy and commerce, lies dailt and abandemed. Ho (me 
here seems to remember the last ttm^ any mail was 
delivered. 

It is not hard to believe die tales that locals tell of this 
colonial ciQr. Before the country gained 
from Belgium in 1960, it was reputM to have more Rolls- 
Royces ]^-capita than any city in die world. 

What is sometimes difBcult to fathom is how a sodety 
like the one that flourished around this remote river 
h'^tling post, now a landscqm of tooken streets and 
abandoned shops, could have fallen so far so fast, 

In the latest of many blows, the dty is now die target of 
a rebellion backed by Zaire's eastern neighbors: Rwanda, 
Uganda and BunindL Each day, reports of one town after 
anodier &Uing to rebels in Haut-Zaire Rovince haightan 
the sensatimi here of a noose drawing debter. 

[The Zairian Army said Friday diat it h^ w<m a fierce 
b^e with rebels Iot a key bridge on the main to 
Kisangani, Reuters reported from Kinshasa. A senior 
Defdise Miiustry oSidal said the army was re- 
inforcing Kisangani with 2,000 p ar atr o opers.] 

In his 1979 novel, “A Bend in the River,” V.S. 
Ndpaul described the crash of a dty that is unmistakdiiy 
Kisangani, calling it ' 'a ]dace where the fhture had come 
and gone.” Through ^les of boom and bust, the future 
has come here many times, only r> disappear, leaving the 
prospects of stability and progress ever more remote. 

Kisangani, formerly Stanl^ille, is situated at the 


See ZAIRE, Page 7 


Diana Is Winning 



>4 




s. 

• s 

.V.; 




See DIANA, Page 7 



Global Phone Accord 
Con les Down to Wire 

U.S. Holds Out for More in Pact 
To Open Up National Monopolies 


PiLML 

PROTEST FLARES — Germans wttb tordhes sb^jng a 93-kilometer-lODg protest Friday 
io tile Rohr to save cosd min^’ jobs. Bmin sd^uled m^jor ecrmomic taiks. Pa^ 2. 


Rape Shadows South Africa 

QdldrenAre Victinis ofNation^s Coll€ipseInto Crime 


By Lynne Duke 

(KaADvam Fan Sermcr 


She Is Seen Coring About People 

By Fred Baibash 

■■ . - WarhiMpom PoatService- 

LONDON — The Invest sto^ abemt Queen Elizabeth n 
recently has been die govenunent’s deeddon wi± her 

I Uessmg — to spend $1 00 milficoi cm anew royal yadbiL It went 
g over buly with the puUic, say the polls, as people are alie^ 
* fed up with the cost of the monarchy. 

The bluest stray about Diana, Princess of Wales, mean- 
while, .was -her recent trip to Angcda, where die put -rai 
btejem — 'albeit with an Armani label — and comorted 
nnail children 1:^ land mines, and ^xdee out in favor 

of .hanniitt the weapems. Tte press ate it with the BBC 
broadcastuig a special documentaiy on her journey. 

The Ughest-^nie coverage during recent months of 
Prince Chaies — hdr to the dvone and Diana's former 
husband ~-fo(nised on his trip to roosters, the Swiss ski lesrat. 
About die-same time, Diana made die front pages with die 
news that she would allow pan of her designer wardrobe to be 
auctioned ^fordie benefit of AIDS and cancer researcb..The 
clothes tiiould fetch seven figures. 

If tholasc few mondis serve as any guide^ the puHicrdaorais 
contest beevreen Etiana and the rest of Britain's toy als will be no 

contest iU^ll. Since her divorce last August, Dianahas achieved 
rapid at portraying hersclf as a wranan vdio,^above all, 

cares about odiers, as opposed to her fbnner in-laws * image — 

^ Vfair or unfair — — of canng about little more than th ems elves. 

'' She is fast becoming a kind of alternalivemonanAy.whicA 
was just what fae House of Wmdsor rep(Wtedly fearri 

This b not a tbou&ht-out strategy, accordmg to some who 

know her. yf h ff is saidnot to plan strategically. But she knows 
exactly doing and wrfiat kind of liupact tiic's havi^, 

these sourees said. It is, said one. **the edge of a stingy. 

; nia n a fw ems to pranag g her own public lelatioiis these days 
— with a tinie help from her friends. RepoiteyDy beca u se of 
her mercurial ways, she has lost two aides, including Jane 
Atkins^ a respected public relations proftedonal. ^ 

The priocess — no longer Ite Royal ffigtoms since ^ 
divorce « was in the news Wednesday for wimdtawing 


ORANGE FARM, South Africa — In this strug- 
gling community 25 miles south of JcAannesbur^ 
chOdren have become prey. 

A IS-year-old tells a local physician she is not 
sure of her parentage. She wonders if the man who 
stQrs be is to father is telling the truth, ” 'because 
every day he would come a^ climb on top of me 
and then beat me,' ” said Dumiso Zulu, the doctor, 
lecoutttutg the girl’s words. 

A mofaer refuses to consider that the likely 
suspect re^onsible for the sores found on her 21- 
month-old baby is the child's father. ‘*No, it can't 
be,” she told Verina Sithole; a nurse, who laments: 
“You just become disturbed for the dscy if you see 
such a care.” 

A 12-year-<:^ girl runs home crying one day 
after a seemingly nice nei^brahood man invftes 
her to visit him. It was a chillingly familiar scen- 
ario. leniiiuscoatbf the three oKm^ of abuse she 
eodored two yein ago when a local dergymffli_ 
'hired' her with kjndn!^ and q»re cb^e, then 
rqieatedly nqied ber'and secured to silence with 


threats to kill her mother. Child itqie — and rape in 
•general — has emerged as tiie new South Africa's 
ugly secret, peiiu^ the most alarming aspect of a 
nahraiwide explosion of crime. 

Natiraiwide, reported cases of child ^^)e have 
ixtereased dramatically in recent years, to 13,859 in 
1996; frraii 10j)37 in 1995. and 7,559 in 1994, 
according to national police statistics. 

Over^, South Africa may h^e tte highest rate 
of reported r^ in the wrald, the police say. Based 
on total figures for the first eight months of 
1996, South Africa's rate of 141 reprated rqies po* 
100,000 females is almost double the U.S. rate for 
1995 of 72 rapes per lOOjXX) females, according to 
law enforcement statistics from b<^ countries. 
Child rapes account for iibout 38 percent of South 
Africa's total rape caseload. 

Unlilto their counteiparts in the United States, 
where statisticians believe about 50 percent of 
rapes are reported, child abuse and law enforce- 
ment officials here betieve only a small portion of 
the mtal incidents ever are Tepoited, owing partly to 
poor record keeinng ^d the burraucratic ch^s 

See RAPE, Page 7 



Lori VWUigkrilK INm 

Anna Mabena cradUi^ her 12-year-old daughter, who said she was raped by a clra’gyman. 


By Edmund L. Andrews 

York "nines Service 

Negotiators meeting at the Wra-Id 
Trade Organization in Geneva struggled 
Friday to reach a c o mpromise on an end 
to the legal barriers that protect state- 
controllM telephone monopolies in 
many countries from competition. 

The stakes are high, amounting to 
hundreds of billions of^ilars of possible 
investment in the $600 billirai telecom- 
munications market worldwide and large 
savings for consumers resulting frtm 
increased choices in lelepbooe service. 

The world's biggest teleconununica- 
tions companies are already racing to 
build their ^obal piesraices and i»ve 
formed several hu^ alliances. But the 
proposed trade agreement would open 
up new markets for such deals, com- 
mitting countries covering about 91 per- 
cent of the world communications mar- 
ket to a broad program of liberalizatirai. 

Countries would be required to allow 
diallengets into their teleidione and satel- 
lite mmopolies, and diey would have to 
drop restrictions that piei^i foreign 
con y anies from owning big stak^ in 
dom^c communications companies. 

As a deadline of midni^t Sanuday 
neared, the power to forge or to kill an 
agreement remained almost exclusively 
with the United States, which was threat- 
ening to walk away any pM unless 

it obtained additional concessirais £r^ 
Canada, Mexico and Japan. The ques- 
tion was whether American negotiators 
were simply pushing as hard as they 
could or whether they were indeed will- 
ing to kill an accord that almost every 
omer countiy had deemed satisfactory. 

The CUriton administration is unto 
political pressure from Congress not to 
sign a tepid agreement, partic^toly one 
that might cni^ne laifaer than e lim i nate 
iraportmt trade bairieis. The acting U.S. 
trade rqiiesentative, Charl ene Bai^ef- 
sky, is waiting for congressiooal con- 
frnnation to the post and to been warned 
by Rraublicans not to sign “an agree- 
ment ior tiie sake of an agreemenL” 

The piimaiy battles center rai letting 
foreign cranpanies own controlling 
stakes in companies of other coumries. 
Canada, die biggest U.S. trading paitoer, 
does not want to let foreign cxHitpanies 
own mote than 46.7 percent of any iftone 
company operating within its borders. 

Washington, which is otoing to al- 
low fbreiga companies the right to own 
stakes of up te 100 peremt in U.S. tele- 
communications companies, has been in- 
sisting that Canada let fordgners ovm at 
least a cootrolliiig stake of 51 percent 

The issue is sensitive for Canada 
where American media domination 
faces intense resentment. Though phone 
service is not a cultural issue, companies 
are inoeasingly pushing into cable tele- 
vision and othtf media services. 

“When you get into 'cablevision,' 
you are close in the public mind to 
culniral-industry issues,” said John 
Weekes, Canada’s ambassador to the 
World Trade Organization. 

“This touches a public nerve ending 
in Canada that is seen as being very 
sensitive.'' 

As intense negotiations continued in 


Geneva, diplomats said they were op- 
timistic abwt reaching a deal. Several 
countries under heav>’ pressure from the 
United States have begun to sweeten 
their proposals in the last few' days. The 
latest was South Korea, which ofTered to 
let foreign companies own up to 49 per- 
cent of Korean telephone componie.s. 

Besides the spat with Canada, dip- 
lomats smd, Washington remained dis- 
satisfied with the proposals by Japan and 
Mexico. 

Japan does not want to let foreign 
companies own more than 20 percent of 
the two companies that have respective 
monopolies over domestic phone ser- 

See WTO, Page 7 


Korea Defector 
Poses Dilemma 

Chinese and South Korean of- 
ficials were unable Friday to end the 
diplcRitadc crisis caused by the de- 
faction of a senior North Korean 
official who has taken refuge in 
SemuTs emtosy in Beijing. 

China smd. however, that the 
process towafo resolving the di- 
lemma had been set in motion after 
the 50-minute meeting between its 
foreign minister, Qian Qichen, aiul 
his Swth Korean counterpart, Yoo 
Choi^Ha. 

Still, a Chinese spokesman said. 
‘ T am afraid that this question can- 
not be resolved so r^dly as you 
hope, as you imagiiie.” P^e 5. 


family witii shots of seminude 

want to “cause offense to the royal family. l- 

Chariesatohelpscharitiesandtakesongt^caus^butte 

siinply seems unable to command the attentiOD she, does, we 
end ing napfing, the queen and Prince Philro, were groomed w 
a laigelyvaiiished age of the monarctiy. Diana groonro 
for the Me of the modern media. Mraeover, she ptos, by 

•J....2 y .MattlftK I B an g- 


in hunting and yachts, and C— — . 

They aroTarely portrayed show^ an in^ m . 

In a recentl^RI public opinion poll, only 21 petotoa 


AGENDA 


•American .Airlmes Girds for Strike 


American Aniines began winding 
down its operatioos Friday as a 
lude to a stw by hs 9300 iong-1 
pQots. 

American canceled its flights to 
Europe, exeto for diose to London. 
fK waaii, 7^ and adozBU 

dranesticfli^ils were said to havebeen 
canceled., 

About 200.000 passen^rs a dey m 


2300 flights would be affected a 
strike. American and its regional car- 
rier, American Eagle, serve 233 cities 
in 47 countries. A spokeswranan said 
American would try ro place passen- 
gers on other carriers. 

Tlte rnain issue in the dis|xite is the 
use of low-paid inlots to fly new jets 
being gwetoed by Ameitean Higgle 


in the 


. States. Page 7. 


1 The Dollar I 

NVwYWIC 

.RIdiy«4PJI. 

plWKDUt GlOH 

DU 

1.6874 

1.6843 

Pound 

1.622 

1.6236 

Yen 

124.35 

124.405 

F 

5.6865 

S.686 

The Dow 1 


RUwetan ' 

pmulauielQM 

•39.46 

6968.96 

7022.44 

SS,P 500 

ctnrioa . 

Prtdve4PJ4. 

prarfouiotaw 

-aaa 

606.45 

aiiA3 


EUROPE Ps«« 2 . 

US, to Limit &^paiuion Cost 


THE AMERICAS 

A Strike at Odld Labor 


Pages. 


EPORTS PagelS. 

ShoqigBe QTVigei Is ^defaed 


Books. 


Crossword. 

Opinfen 

Sports 


page 3. 

...' — Page 6. 
Pages 18-19. 


fteuiittfenif CtaaoMM 


pages. 


Natasha Seeks Joe 

In Bussia, Matrimonial Agencies 
Targeted at American Men Thrive 

By Alessandra Stanley 

New Yiork 7aneg Service 


MOSCOW — ^chael, a 51-year-oId chiropractor, looks 



Russian bride. 

And 7,000 miles across die sea, Russian wranen watching 
“The Lonely Heaits Cfab” stare hungrily as the camera 
to a wide shot of MichaeTs large, spare and qiotless hving 
room, his eieaming , folly equipped Idichea and die white 
BMW in bis garage. 

Michael is one of dozens of presperous but lonely Amer- 
ican bachelors who have put theniselves — and their life 
styles — on display for single women in Russia.^ 

He measures up well against die local competition. 

“Our men treat women like objects,” Irina Borodikhina, 
30, a divorced hospital medic in Alin^, Kazakstan, com- 
plained after calling in to die show's biot line in Moscow. 
'*Th^ drink; they smoke; faey have bad hygiene and care 

See BRIDES, Page 7 


U.S. Doubtful 
Japanese Will 
Join Plan for 
Missile Defense 


By Clifford Krauss 

New York Timei Service 

WASHINGTON — After diree years 
of exploratoty talks, Clinton adminis- 
tratirai officials say Japan to all but 
decided against participating in a joint 
anti-missile defense project for fear of 
(lending China and overspending 
scarce military resources. 

Tokyo’s halation is not surjxising 
^en the strained Japanese economy 
and Japan's reluctance to assert even 
defensive military power since the end 
of World Warn. 

But while U.S. officials say Japan’s 
expected decision will have little or no 
inqsoct on Japanese-American relations, 
it come as a setback to the American 

defense companies that had hoped to 
supply J^ian with hardware. And it will 
put added pressures on foture U.S. de- 
fense budgeting for Asia. 

Senior adiiwustratirai officials said 
that no Japanese decision would be an- 
nounced for months, and that nothing 
wiU deter the United States from press- 
ing ahead with its own plans to develop 
anti-missile defense systems to protect 
U.S. forces based in Jvm from a pos- 
sible North Korean or Chinese attadk. 

IMscussions between Washington and 
Toltyo on how to merge technology, 
engmeering talent and financing on wto 
is c^ed “theater missile defense” 
began shortly after North Korea targeted 
a buoy off japan's Noto Peninsula and 
test-fired a Rodc^ 1 missile 300 miles 
(480 kilometers) into the Sea of Japan in 
1993. A mid^e-level working group of 
Japanese and American defense plan- 
ners have met nine times to discuss 
regional threats, deployment timetables 
and types of land-based and sea-based 
anti-ballistic weaponry. 

A J^»nese Foreign Ministry official 
who deals widi U.S. affairs and who 
^ke on condition of anonymity, said 
the group would continue meeting until 
the summer, after which time the J^ 
anese government would make a to 
dsion on what role to play in the project 
“At this moment we have not ntede any 

See JAPAN, Page 7 




I * 


NMfssiancIPriM 


y 


AmkRta .........11x00 PF 

AnOes..... 12.50 F 

Camsioon ..1,600 CPA 

Egypt ...JEE5.S0 

Ranee ...10.00 F 

Gatxn 1100 CFA 

Graace ...;.S50Dr. 

My^^,..A80QLi» 
Iv^ Coast .1 250 CFA 
Jordan ....U...12S0JD 


Ltf)Bnen,»..,,>iLa00d 

..16 

„ lOJQ RWs 

Murion 1220 F 

SaudAiabia.»i020R. 

Senagal—..i-iOOCW 

gpolq • 985 FTAS 

Tam -.1250 Din 

UAE. 1020 OH 1 

as.Ma. [Eur.).--S120 


Whiting Game: Vancouver's Hong Kong Chinese Play for Time 


By Anthony DePalma 

New YorkTima Service 



VANCOUVER, British CotumMa ’ — On 
'Hrursday in downtown Vancbciver, tfaeback 
room at ti^ victoria restaurant fills 1^ Chinese 
women who have come to^ mah-jraigg, feast on 
(jelicacies like marinateti jelly^ and shew off 
iewels, rfH {Aones and ot&r gifts, from their bus- 
bimds, who are aU back m Hou Kong. 

*016 aato dTiotel weloomes into wannly, know- 
fog they wiQ otder^ rarestdi8bes,'and leave al^ ^ 




“They are astnnants’ wives,” he says. The men are 
chDed “astnmauB” because di^ rocket back and 
feidi to Hcog Kraig, triiere tiiey ^ nm businesses. 

Even faon^ are rarely in Vancouver, most 
“astronauts” and dieir wives have manapd to be- 
come Catalan dtizens. Their passpoits are prized 
msuranoe policto that allow (oct (o straddle both 
worids. They cm return to Hbog Kong in the waning 
di^ 'afBxfririi role, but can get out ^ain if need be 
after fheChmese government takes over July 1. 

* T^re been here Smos! tisee years but I don’t fad tike a 

Cgnariimi Bt<iT?/* <iiMRffTiy whn ri^TwVwnmmTTnign>rinn 


-A.. 


officials te know her last name, cr the named’ bo- tnisba^ 
becaote faty do not yet have tbeirpasqiorts. Sic was dining 
attoVktotohmdidDotjomthe(Xberwraneninniab- 
joi^ an ancknt game Ete domnioes, because she finds 
llbeu dtoty (if weahh vulgar. 

Betito she does not expect to be in Vancouver mneh 
JoqffiT.Lto many (rfttellO;ODQ Hogg Koi^Quacy who 
came here over to last decade to esc^ fee uncenainty in 
Hong Kopp. Beoy now dreans of goiQg back, once she to 


With less than five months to go before the 
Union Jack is lowered for the last time in Hong 


Kong, what had seemed to be a massive and tians- 
fon^g settlement of new Canadians has hmied 
out to be something altogether differenL 
For many Hong Kong Chinese, Vancouver is 
less a new home tto a way station where they can 
safely keq> tiito faunilies and wealth while foey 
wait to see what beramies of the island. 

Of course, the trip out of Hong Kong was one- 
way for many exiles, and they are happily settled in 
Vancouver. But among the wealthi^ immigrants. 

See VANCOUVER, Page 3 


V 







PAGE2 


|]yrEff^SA™WAT. yngRA¥.n TRIBUNE, SATUK0Ay-SUM>^ FE^IIABY ^ 


1997 


■jh.. 


bSaimm 






PAGE 2 


. tKfiTrir •- 


The Cast o 



xpansion 


on 


By Joseph Intdiett 
InteniatUnui HeriM tribune 


PARIS — The United States plans only min- 
imal extra militaiy ^lending when NATO ex- 


pands into centra] Bjrope — a niessage that 
Secretaiy of State Madeleine Allxight will take 


to Moscow next week as tangible evidence diat 
enlai-gemem of the alliance poses no security 
Areal to Russia. 

In its fiist official cost estimate, the Clinton 
administration has concluded that plans to take 
in new members would probably cost the United 
States only about $150 million to $200 million a 
year for the next 15 years, officials said Friday 
after seeing a draft rwort of Ae price tag. 

The low level of nnancing — ’‘peanuts” in 
military spending, a Defalt De|»rtment of- 


ficial commented — offers Ae clearest indi- 
cation yet that NATO's blueprint does not in- 
clude any significant shift of forces or new 
military infrastructure on the temtoiy of the 
main for membership: Poland, Hun- 

gary aitd Ae Cze^ Republic. 

While a State Depstment official conceded 
that WashfogtOD seemed to be ‘ Towballing’ 'Ae 
cost in aneffort to ease concerns in Congress and 
reassure Moscow, an official at NATO 
headquarters in Brussels described Ae proposed 
spending level as “common sense.’* 

“We don't see any Aieat out there and we SM 
plenty of warning dme, so it would make sense to 
tailor Ae spending to levels that can be borne by 
our Aploma^ and by Ae U.S. taxpayer,” he 
said. 

The planned U.S. expenditure implies only 


modest, gradual inqjrovetoeacs m new member 
states' armed forces, mainly in Ae foon of 
improved communlcatioas so that their corh- 
rnand centers, aircraft and ground trocps can 
cooperate efG^vely wiA NATO operations. 

New meoAers could decide to invest in. 
strongerforces <xi Aeir own, but Aey are unlil^v , 
to do so until tteir economies stalnlize. NATO 
itself has not yet worked out ideal force postures 
for camtidstfs or discussed eost-shaiing teams. 

The U.S. figures foreshadow little early change 
in cmiAat cmttbQiiies: instead, they suggested 
Aai new memoen will be encouraged to ro^ on 
getting tiudr armed farces ready for foil roles in 
mture NATO-led peacekeeping, said soi official 
at allied headipiarazs in Bmss^. 

“They need English teaching more urgentiy 
Aan new fighter wmgs," he said. 


. The proposed spending levels sgppe®*ed to- 
confirm uS. statements Ant U» alliance does 
not plan to construct major headquarters or gai^ 
risons for allied forces oa new member stat« - 




oexi week in Brussels 




nsons lor auicu iwiiCB wu — , j 

tenitoiy — mvesiments Aat would have moyea 

the old NATO front line eastward. 


The U.S. cost figures should go some, wy 
tewaid answering Rusrfan objectioM A® 
NATO eoiargement is ‘‘aimed at Russia ana 
i ^frwTnng Aft Western presentation ofenlaige- 
inent^ a step tpuard anew system of Eordpem 

second Aat incdu^ a qieciai place for Riu^ 
11160 .$. figures — tedmicaUy. still m toft 

— only a giiiA>Hne . but AiW mc^ently ca^ 

ftfwroh polittcal imprtitimce for Cliinjon a d n un- ... 
iwmiirtn policy mskers to have wiAbeid Aem 
from pubtication this week. 

Mrs. Albright will present them to allied gov- 


uise Aem as a centerpl^ in taliss 
Friday in Mwcbw. _ 

Tite 00 ^ figures ate likely to 

a German tfijtonat . „ 

“would have.prefecr^ no figm at 0 
etdargdnent is a political dedsion, fo the-eco^ 
p^iraj wiU have to follow.'' OAer tokxntesdd 
' Bann' was also concemed Aat* Ae.U.S. 
CQuld'stir (fispnte weiesed^ Mqqct^as 
^rnmiiaMfe cT'viewed in some (WiWndiHB staiM a; 
an implicit-ceiting on miliaty ^MniBrog.* ^ 

But the U.S. figures are an indiodoE of fecuail 

inrftiriinfl cuiTGst members and new:oaeK|^:ef 
lou^y $20 tdffionmAe-commg decato. 


BRIEFLY 


Kohl Presses for Tax Reforn 

Leader Schedules Rare Meeting With Lafontaine 


By John Schmid 

haematiniial Herald Tribune 


FRANKFURT — Reas- 
serting his leadership on a 
make-or-break issue for die 
German economy and the 
government. Chancellor 
Helmut Kohl agreed Friday to 
meet wiA the opposition So- 
cial Democrat leader, Oskar 
Lafontaine, to coordinate 
plans to overhaul the tax sys- 
tem. 

The search for compromise 
underscores how urgently 
Mr. Kohl wants tax tefonn to 
succeed. 

The talks on Feb. 24 will be 
the first time Mr. Kohl will 
formally meet wiA Ae op- 
position since he began to im- 
pose a series of unpopular 
austerity measures a year ago 
over the objections of the So- 
cial Democrats and the uni- 
ons. 

Tax reform, aimed at cut- 
ting rates to attract new busi- 
ness and create jobs, ranks as 


the govemmeot’s highest do- 
mestic priority. 

The number of German un- 
employed stands at a 64-y^ 
high of 4.66 million, which 
makes Mr. Kohl's goal of cut- 
ting the jobless total in half by 
2000 appear implausible and 
his 'neM for a solution more 
uigmt 

The proposals to slash in- 
come tax and corporate tax 
rates by 30 billion Deutsche 
marks ($17.8 billion) also 
stands ax Ae centerpi^ of 
Mr. KtAl’s re-election plan 
for next year, if be decide to 
run. 

• If the center-ri^t coalition 
can negotiate an eariy com- 
promise wiA Ae opposition 
on the left, it increases the 
chances that tax reform can 
wend its way through boA 
houses of Parliament withont 
being gutted. 

Mr. Lafontaine has been 
one of tbe most vocal critics 
of the tax plan and his pa^ 
controls a blocking majority 


in the Bundesrat. the upper 
diamber Aax must approve 
any changes in Germany's 
tax code. 

Mr. Kohl's leaderAip has 
come under attack since Ae 
government announced its 
tax refic^ plans last month. 

Those plans envisage 
levies on old-an penrions 
and on exempt bonuses for 
overtime and weekend work 


Aat have been exempt as well 
of DOpuar 


loop- 


as Ae end 
holes and wriieb 

lighting has broken out in 
his own coalition ova* issues 
relating to reforms of the tax 
and social securi^ systems 
arid over rising dendts. 

The government has p^ 
posed r^udng tbe lowest in- 
come tax level fixxn its 
present 25.9 percent “coward 
^ percent” and lowering the 
hipest level from 53 percent 
to under 50 percent in 1998. 

Further rrauctions in taxes 
are plano^ for 1999, officials 
said 


GIs in Germany Claim Sex Abuse 


By Alan Cowell 

New Ibrfc Tunes ServUe 


BONN — Already smart- 
ing from allegations of sexual 
tmscondua ^ solAers back 
home, Ae United States 
Army acknowledged I^day 
that three male training in- 
structors had been aispended 
from duties and two of them 
detained after compiaints by 
1 1 women solAera of sexual 
mistreatment at a base to Ger- 
many. 

A statement from Ae 233d 
Base Support BattaU<» at 
Darrastadi, souA of Frank- 
furt, also said an mvestigation 
by the Army Criminal frives- 
tigation Division had been in- 
stituted following the/'deter- 
mination of possible criminal 
activities” by an unidentified 
officer initially entrusted wiA 
in^iries into the complaints. 

The allegations against Ae 






ESL 1911 PARIS 
"Al' ongiod/' 

5, rue Daimou, Paris {Opia\ 
Tel.; 01 42.61.71.14. 


HANNOVER 
SeidlerHotel Pelikan 


male instructors include rape, 
forced sodomy, indecent as- 
sault, cruelty and maltreat- 
ment of subordinates, Ae 
statement said. 

The scandal was the first 
repeat^ frxun Americaa 
ba^ in Germany since sim- 
ilar -illf^garinns began to sur- 
face last frill in Ae United 
States. Last Monday, the 
army suspraded its highest- 
ranloQg enlisted soldier. Gene 
McKiimey, the sergeant ma- 
jor of the army, pending an 
investigation into allegatioas 
of sexual assault and baiass- 
menL 

In Germany, the miscon- 
duct is said to have taken 
lace at Ae Inprocessing 
'raining Center in Darm- 
stadt, an orientation unit 
where all soldiers assigned to 
die 233d Base Support Bat- 
talitm and other units in the 
area routinely attend a two- 
week course. 

Tbe incidents are alleged to 
have taken place between 
mid-November, when a fe- 
male soldier assigned to Ae 
22d Signal Brigaw made the 
first complaint of sexual mis- 
conduct, and mid-January, 
when die army first began to 
investigate die allegations. 

The male personnel ac- 


f! 


cused of abusing the female 
soldiers were sergeants as- 
signed'to tbe training unit on 
six-^nonA rotation, military 
officials said. 

The criminal investigation 
began Feb. 7. About 70 
people have been ques- 
tioi^ 

Three instructors were ini- 
tially suspended from duty 
and two of them were placed 
in pretrial confinonent after 
allegations Aat diey “contac- 
ted a victim in an attempt to 
influence her testimony,^’ the 
statement said. 

The army souj^t to depict 
the inddeois as isolated. 

“We do not know of any 
in ap pro p riate conduct in a 
systematic pattern over time 
at Darmstadt.” said Colonel 
Michael Sullivan, the chief 
army spolresman in Europe. 

Tbe statement from Ae 
233d Base Support Banalitm 
said: 

“It is important to note diat 
tbe suspects are presumed in- 
nocent unless proven guilty at 
a court-marti^ It is equally 
important to note Aat no 
charges have been filed as 
ycL” 

No details of the alleged 
incideats have been released 
by the army. 



Yeltsin Makes Ra£dAiMress 


MOSCOW T— Boris Yeltsin made his fiist broodcan 
speech c^'tiie year Friday and ootUned a ‘ 

iahea(L hoping to convince i 

Ae worat of bis heauh pnAlems are over. 

. Tlte opppsitiion wasnbt nn f we ss ed: tite -CbEb&iniiSl^ 
PSriyleato,Gqmadi Zyuganov, (01edilw preside. 

~ >Iess.and.seriou8ly iUperstm.” 




^year-old Russian leader spcOce smob^ ]b$ • 
sounded less energetic than wherr he woirre-electibttM ‘ 
summer. 

He ordered his govercanent to draft a treaty ahited;^ 
keepingQtedmyaapaTtofRussiB,promi8edBOtlti^i(:i^ ’ 
back Russians’ pension paymrats and said it traidd.li 
‘‘TKkless’'toamendAeconstitutioa. 


StrUse Damage ‘Grave’ in Spain. 


MADRID — Spam's ^mnunent ^ddjk^y ahine< / 
day-old trackers' stt^ was mflictiiig'‘^j^veo0^ 
on the economy. . . 

Devekqnnent I^nister Rafoel Arias Salgiido alsp. 
pledged As government would guarantee unoi^et^,.: 
travel on its (Seia^- 


Pope Backs Anti-Abortion Staves 


OIT 


ROME ^ ^qpe John Paul II threw his sq{ 

Friday behind moves to give embryos a staAs!^ 
defmidmgthemfrtmabortioni 
“How can we fbrgpt Aat ourerauDfonana^y isliv^-i' 

rttmngh on iinhww rf ftf ftnri ajmftatittwniagWiiihU. 

of innocent humans, trinch many states have upfa^l wtA'j 
laws?” be said. : 


EU Bans Import ofDutdiPig^ 


HORSE-DRAWN PROTEST — Albanians, one holding a portrait of a slain 
demonstrator, shouting anti-government slogans Friday in the port of Vlore, 
where thousands continued to protest over their losses in an investment scheme. 


BRUSSELS^ Tbe , 

banned Ae export of pigs from most of tite Ni 
counter a wides^ oirAteak of swine fievex, m* ^ 
agricnltiiral official said. . ' 

Th^ twin h>1^ 

It prohibits exporls of live pig mqxnts frem^0fe^ 
(fistiiks in the Nethetiands — Amsterdam, R o ttnd^; < 
Bred^ Weert, Nliinegetu Apeldoom arri I)oetincfaed^l^ 
(^cialsaid. 



By Barry James 

Inlavaiontd Hendd Tribune 


PARIS — Rene GniJffi^, a 
sculptor, learned by chance recenily 
that the Gty Council of Toulon, 
which is run by tile extreme-right 
National Front, had destroyed an ab- 
scraa fountain be campled for Ae 
city a couple of years a^. 

So whm hundreds of artists, actors 
and writers descended ai tiie dty tills 
week to protest what they describe as 
the National front's asi^t on con- 
teti^raiy forms of expieuioo. Mr. 
Gumfrey was there wiA them. 

“Anro Brecker is back in fashion,” 
said Mr. Omfirey, referring to the 
setotor admired by Hitler. 

The Toulon dernoostndon was in- 
tended in particular as a gesture oC 
siq^iort for Gerard Paquet dire ctw of 
die Oiateauvalloa F^val jim out- 
side Toulon, a haven for experimental 
jazz, theater and dance. 


Mr. Paqoet was removed from his 
position on Feb. 1. and the Qty Coon- 
cS is seeking to have tite festival Aat 
down. Whether or not it succeeds will 
be decided at acouit hearfrig late next 
monA a delay that could drive the 

Aeater into banknmtcy. 

Last weekend, the anti-immigrant 
National ^ont won control of a foorA 
town in southern France, VitroUes. It 
is using its victories in the souA as a 
springboard to win PartiameDt seats 
in l^slative elections next Match. 

fe a related development, nearly 
180 French writers have told the gov- 
ernment that they win flout a pro- 
posed law tighteiuDg up requiremeats 
for citizens to report the arrival or 
departure of foreign guests. It is 
already illegal to house fbieigaers 
who do not have restdence permits or 
visitors' visas. 

The writers acted after a French 
wom^ Jaccpieline Deltombe, was 
convict^ iw allowing a Zurian 


friend to stay in her home. They said 
they Aould also be prosecuted for 
having gived similar Imspitality to 
foreigners. Otiier petitions were 
signra by film directors and other 
dnema professionals, actors, teach- 
ers, university staff, musicians, artists 
and journalists. 

Some intellectuals . have drawn a 
parallel between tiie proposed re- 
quirement to report fareigners arid tbe 
194L law jas^ Ae pro-Nazi 
Vichy regime requiring rituehs to 
inform tiie police if tb^ gave hos- 
pitality to Jews. 

Mr. Gttiffrey, who woo a nation- 
wide contest to buM Ae fountain as 
tbe ardiiiectural centerpiece of a new 
quarter in Toulon, described the city's 


razing of the loomii^ sculpture as an 
act of cultural {Ailistinism. He said 


tbe mayor of Toulon, Jean-Marie Le 
Cbevallier, had told him that Ae work 
was a targk for vandals and was too 
expensive to keep clean. 


- -.ft 

National Front ofiic^ inaskiity 
have ttte siqipbri of local votere,^D 
Aot say disapprove of hqp-hopTSiSt- 
ivak at CSieteauvalloa. for exaa|d^ 
like one last year that resnlted;is'i 
prison sentence for tw r^ siaraferaii 
song tiiat insulted the police. • : ' ' 
w. Paquet, like many others, seos- 
tbe Front’s cultural policy as an Jo- 
pratant fector in its campmgn to-*^ 
power across tbe natum. 

. “Tte Natio^ Front has un^ 
stood smxtetitthfi essential,” beSi^ 
tbe nMgannft L%veDement do Jeudi. 
“It is first of all necessary to win the 
battle of ideas.'’ 

Last year, Mr. Le Cbevallier 
Aed an award at the Toulon Book 
’ to tbe Jewish writer Mardt IkUff 
and gave it instead to tiie actressBn- 
^rtte Bardot, whose husband is a Na- 
tional ihont member. ^ ^ 

“Ifelter bas an intematiixialistvh' 
sion, whereas we are femfiy^ 

nation,” tbe mayor said. 


RELIGIOUS SERVICES 


AMSTERDAM 


SWITZHOAMD 


CROSSROADS INTERNATIONAL 
CHURCH Intordenofiwnallonal & 
B«ng^ Sundau Sente lore am 
11:30 a.mJ tOds Welcome. De 
CuoeRiiiaa 3, S. Amsieidam Mo. 02l> 
641 8612 or 0206451 663. 


BASEL CHRISTIAN FELLOWSHIP 
EngBah-Speaktna nornlenanmlional. 
Tet^i 61302 1674. Sundays 10:30 
MMeie Stasse 13, CH4CE6 BaeeL 


BRUSSBS/WATBtlOO 
ALL SAINTS' CHURCH, 1st Sui. 9 & 


lins am. H(W Eucharist vihCtMerfe 
Ch^ ai 1 1.15. M oihv Sui^c 1 115 


ZURKH-SWmZEMAND 


RtANCE/TOULOUSE 


HOPE INTERNATIONAL CHURCH 
SwneteQ. 4, txi ds Ptaa Catamier. 
Sunday service. 6:30 p.m.Tel.: 
06627411S. 


ENGLISH-SPEAKING CATHOLIC 
MISSION; * SL Anton Church, 
MnervaatraBe 63, naer KreuzpUtz. 
Sentes conducted in Engteh. Simday 
MasKaso am & 1130 am. Sentes 
held It aw o)fpt ol Sl Arson Chuch. 


FRB9CH RIVIERA/CdTE D'AZUR 

NICE: Holy TrsiOy (AngDcai 
Btrite. Sunil; vafcLaHiM 
HMstanca 9 am, Tte 33 04 S 

MON1E CARLO 


i), 11 rue 

rs. 22.3V. 

871981 


THE mSGOPAL CHURCHES 
OF EUROPE 


am Holy Bxharisi ovl Suidsy School 
563 Chauss4e de Louvain, Ohain, 
BeVwn. TsL 32eZ 3846658. 

1M1E5BADB4 

THE CHURCH OF ST, AUGUSTINE 
OP CANTERBURY, Sun. 10 am. 
ftmitf Eucharist Fisrtdaiter tUtsieo a. 
Wiesbaden. Germany. Tel.: 
4aeiij3QjBa74. 


PARIS ond SUBURBS 


EUROPEAN 
BAPIlSr CONVBIT10N 


PRAGUE 

LB. FGLIXIWSHIP, VhohiacWte « 08. 
nasue 1 Sin. 1 1 ro. 7M: (02) 31 1 7874. 

WAIBttOO 

WATBUjOO BAPTIST RLLOWSHP 
Sin. 19E00 m Swadih Cluch, a ewe s 
Iran IWDoneUaTsL: (oa 303 1586. 

ZURKH - SWnZERIAND 
LB.Colzarich.Gh e te na sa e ai.a803 
ROschihon, WotsNp Senrioes Sunday 
fflominp loaa ink 1-4810011 


MONACO CHRISTIAN FELLOWSHIP 
Worship Service, Sundays: 1 1 a.m. 
9. rue Louis Notary. Monte Carlo. 
TeL 37792 16 S847. 


MUNICH 


THE AMERICAN CATHEDRAL OF THE 
HOLYTHran^ Sin. 9 6 11 ara. 10}45 
am. Sunday School tor chil d ren and 
Nursery care. Third Sutidey 5 p.m. 
Evensoira. 2S. avenue George V, 
Paris TSOOe. Tek 3301 S3 23 84 00. 
Matra; George V or Aim Mansau. 


BBOJN 


ASSOC OF INTL 
aWBOCS 


LB.C.. BERLIN. Rothenburo Str. IS, 
|^Sundqr>_B|ble sa^ 1046, 


INTERNATIONAL COMMUNITY 
CHURCH. Evangallete Bfcle BaloHng 
notes ti MMi 4:30 pm Sundm at 
EnItubeiNr. 10^ Theieslenstr.) ^ 
85M617. 


FLORBKE 


ST. jambs: CHURCH, Sin. 9 am FBb I 
& 1 1 am. Rfe A. Via BemaRlo nceM 9, 
50123. Raanca tely. TSU 36155 29 44 17. 


wQi w rip Service 12JX) noon. Charies 
Wariad. psteor. Tsk 030-774-«67a 

BREMBI 

IBO- H oh o rioh oatr . lte BTMnr riloaoS n; 
WbmpSm 17m. tatortetaphatn: 
04791-12877. 

BUCHAREST 


RMUS ond SUBURBS 


FRANKFURT 


EMMANUEL BAPTGT CHURCH - An 
eiangaS te ld'utelnthawe atein aiteMfaa 
an are welcome. 9:45 Rrai Service 
ooncunant wUh Sun^ School 11M 
Saoorte Seivioe with Craten's ChuiA 


Pranch Sarvtca 6:30 pm 58. me das 
Bona-Raisma 92500 RueB-MBlmtesaa 


CHURCH OF CHRIST THE KING 
(Eptecopal/Angllean) Sun. Holy 
Oommunon 9 & 11 am Sindw Setnd 
and Nunsry 10:45 am. Sabran Rkn 
St 22. 80323 FiarMiL Geonany. U1, 2, 
1550184. 


LBXl. Snada Pops Rum 22. 3riX) pm 
COnBttFteBor IMS Kaniw. 1913123961 

BUDAPEST 


LB XL, meets at Monos 
Gimnaarium. Torokwesz ut 
lOOa Tel 2503932. 

BUIGARM 


Sun. 


Farfito.eM0l 4751 2961 


3 MquaMlaa Tab 4069 55 01 

6BIEVA 


l&CHWb 
T2ankov l 


HOPE INTERNATWNAL CHUROI 
HcM Orion at MateOMansa, 8 bd. da 
Nady. WMto Sindays 990 am. Rav, 
Doum Miller, Paster. TM.: 
01 43 33 04 08. Mttre 1 to la OMma 
E apte w d a , 


aWANUB. CHURCH, 1st & 3 r> Sun. 
1 0 am. BKharist 2nd & 4lh Sin. Moirtog 
.IlDIOanaua, 
lTei;4V227326078. 


Wbrid IMs Cataar, 35, Dnhan 
Bhd. Wbrshlp 11«|. Jamea 
tXtePaster.TaL: 889861 

FRANKFURT 

INTERNATIONAL CHRISTIAN FBL- 
LQWSW*, ar.-FMWidte GemaMA 


MUNIOi 


SAINT JOSEPH’S CHURCH (Roman 
CBtBill MASS M S4GLISH Set 830 pjn; 


Sun. 9:45, 11:00 am, 12:15, 830 p.ra 
* Tel.: 


50, avanua Hoeba, Parte 8th. 
0i«272995:MteBQnte<iaQBda-Bala 


THE CHURCH OF THE ASCStSKM, 
Sun. n^4Sam. HeiyEueharlstand 
Sutriv School Nuteety Cam prevUed, 
Mniaae 4, 61Ste MuvA i 
i<3eimaiv. TeL 491696481 1 


MLMy.CMIFtec 0817382721 


TOKYO 


ST. PAU. HIERNAHONAL UmSIAN 
CHURCH.naarBdabaateSinTek3ai- 
3740 VHoMrip Santo 990 am Suidwa 


ROME 

ST. PAUL'S TwnitnirwAin sm. 


590 am. Holy EuchartBt Rte b Htto am 
Choral Euchanst Rite II: 10:30 am 


TQKVO UMQN CHURCH. OMT OmolBBanib 
Ste Tte: 340000(7, Waahp Savtaa 
SiniBy - 830 A lire am, SS at 946am 


Ctuch Sttioal lor dUen ^ Itemy can 

— • • ; Euchanst Via 

TaL:3BB488 


BETHEL I.B.C. Am Daehsbefg 92 
(Eng^, WxM Sin. iiri)0 am and 
6flO^TcL:(»548559. 

HOLLAND 

mETy MiBMADONAL hwaas you to 
a Christ eanteiad fslhmahifi SanteR 
9fl0 ate 1090 am Btoamcamptean 54. 
Wwasiuiai 070-617-8024 niaeiypw. 
NKE-RANa 


LB,& 13 lua Vamtar. B ig b h sendee. 


TiL <0499320591 


AMDBCAII CHURCH M BBIM, oor. 
at Ckv Afee 1 POtedanerSk, SB. 990 
ojii, Wtoti 11 amTek 0390132021. 
FRMGtFURT 

TRIHITY LUTHERAN CHURCH, 
NMu^tenaaae 54. Sin. wooi^ 11 am 
TeL 08906031000 or 512551 

OT4EVA 

EV. LUTHERAN CHURCH 20 rU8 
VSKtelna SwteRr wooNp 990. In Gemvi 
1190 h Engkh. Tte 3105081 

JERUSAUM 

LUTHERAN CHURCH at ta Redaamar, 
GU Cty. Muican W woship Sm. 
8amAiaa«eioomaThL(O2)028KM8. 

PAMS 

AMERICAN CHURCH IN PARIS. 
Woish^ am 65, Oual ifOisay, 
Parte 7. Bus 63 at door. Metre Alma- 
Haeaauarhwaidea 

VOENNA 

VIENNA COMHUNITT CHURCH, 
Sinday wolterip to Bi^iteii 190 AJUL, 
Sinday SGhool nursev, te tei n te kiB l eS 
danotr in Bdaie wofc a mo . Dmtheetgasae 
laViamT. 

ZURICH 

INTERNATIONAL PROTESTANT 
CHURCH EngGeh speMttog, woriKp 
seirvica, $un^ School 5 Nuaery. 
dsidto 1190 am, SdarsangaaBB 25. 
lU: (01) 2825525. 


TRAVEL UPDATE 


No Deal on Fraich Iraospoit 

PARIS (A^ — Talks b et w ee n umc» leaden and tran^oct 
autiiorities foiled to Ixiiig sn ureementl^iday, leading two of 
the three maia anions to call for a continuation of strikes that 
have all but hailed public oransit in 12 cities in die Fredch 
provinces. 

Transport authorities ofi er ed to reduce the worieweek to 
36.5 hours frcmi 39 hours, acconting to partidpants in ne- 
gotiations at the Ministiy of Transportanoo. There was no 
word on wbether the proposal incluoed a pay coL 


Tbe U.S. Na'ty and Air Force will issue new orders to 
military training fli^to in two laige areas off the Atiannc 
Coast where two civilian i^bts complained about tiie abtio^ 
of F-16 fighter pilots last wedc. l^taxy i^ots would be 


feet vertically from any civilian airliner. 


{WPi 


Hie South African tooristindiiri^ boomed in IS^widi 
more than 4.7 miHicri foreigners visiting^ coiinoy despftc' 

ite leputatioo for riotett crime. Tourism Mmistear Jofdan 

said ^day. - (AFP) 


WEATHER 


1 Eurape . 



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North America 

CeW oerow th« Qraat 
Lsku and Northeast 
tvQudh Menday, toan tuR>^ 
’m nAter, as irfW air tetete 


Mtewaid fnim the RoeWes 
Sunday Into the Plalna 
Monday. A bit of wot 
wotehar b eipected fci toe 

West Sunday and Morteay. 
miinty to tha north. Meat^ 
white. maMy iSy weather 
totosEaaL 


Europe 

Very Mndy and w« wealh* 

ar wS owwipmad London, 
Raria and AmaiaRlain Sui^ 
day and conitoue Inidnate 
week, A cold ehel will 
affect Soandlnavia and 
northeast Europe Sunday, 


tMtara aftetbig tote wasterii 
iMondwy. 


Rueeia Mendby. 8pten and 
PortupaJ wSl.stay.ntalnly 
dryanpnftL 


Asia 

Utenty dry In Baying anid. 
SseuT wSh naaMa bslow- 

normal temperaiurae. 
Much of «tapan MS ha mid 
Sunday, than asning coel- 
ar next areek: a major 
atonn will move acroM 
northam Japan Sunday. 
OanB acresa Tahwari and 
seutham Chino. Typleally 
wannin Slngapen with a 
thuteoatorm each day. 



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INmtNAXIOl^HEIUIJ)^!^ FEBRUARY 15-16, 1997 


PAGES 


Clinton Backs 
Investigation 
Of China’s Tie 
To Donations 


By Susan Schmidt 

Waskingum Pptf Seniee 




Hi, 




WASHINGTON — President Bill 
fOinJOT rays be supports a vigorous 
.i^estigatacHi into accusations that the 
government may have dixecied 
donations to the Democi^c National 
Committee. 

Clmton said that he was Tma igyr^ 
iof the Ju^ce Deparmient’s foreign 
jcoun^inteiligence invesdeation into 
activities at the Chmese EnSsw here, 
; reported in The Washington 

. PosL ^president said the aeciMarinnp 
■ must be ‘ thoroughly investigated.” 
‘^Obviously it would be a very se- 
1 nous matter for the United States if any 


; country were to attempt to funnel funds 
.to one of our politicru parties, for ai^r 






reasoi whatever,” Mr. Clinton said 
'niursdw. 

The I^t reported that a Justice De- 
,partment task force looking into cam- 
' paign fiind-raising abuses un- 
I covered evidence through denronic 
•eavesdropping that representatives of 
; die Chin^ government sought to (Uiect 
. fiinds from ibreign sources to the 
' Democratic National Committee before 
j,the 1996 presidential nampaiign. 

The embas^ has denied any improf^' 
!er efforts to influence the administra- 
• tion. 

The deputy attorney general, Jamie 
. Gorelick, declined to coounent on the 
‘ a^rtioDs. The infonnation about pos- 
sible Chinese involvement in U.S. cam- 
paign politics prompted miewed 
; for Attoney Graeral Janet Reno to seek 
to replaM the Justice Depailment task 
force widi an indqteDdent coun^ to 
investig^ fiind-raising abuses. 

52 Subpoenas Issued 



POLITICAL. ( 


Apw« haDc^lVoBt 

Two ntroiraut^ Maidt Lee, left, and Steve SmiRi, maheavering in space to repair (he Hubble telescope. 


Hubble Is Given a New Pair of Eyes 

In Spac^ Telescope Is Outfitted With More Powerful Instnimeiits 


Stephen Labaton of The New York 
■ Times reined; 

The ^nate Governmental Affoirs 
CcMnmittee begin Thursday its exam- 
ination of questionable campaign fi- 
• ' f ■ 'nance practices, issuing 52 subpoenas 

' 'for document held a grcHipofAmer- 

ican and Asian contributors and fund- 
raisers as wen as federal agencies with 
whom they had contact 

The votes approving the mders fol- 
lowed bitter partisan bidcerin^ with 
several (tommittee ZDembets saying di^ 
could not recall sudi wrangling over the 
relatively stxaigl^oiivaid issue of mb- 
poenas. 

Eight of the subpoenas were ap- 
jrroved over the objections of the com- 
mittee's seven Democrats. 

Republicans, who contnd the com- 
mittee, said the votes were needed to 
begin collecting documents for a com- 
ply investigaticHa that could take many 
jnondis. accused dte Demociate OT 
cngagmgm delay and distractitm. ^ 

. The Democrats countered that the 
Rnniblicans bad set im a ooe-sided in- 
quny that would ovenook Republican 
^ •campaign excesses and focus exdus- 
ively cm jnobiems in Demociatic ftmd- 
•raising 


The Aaeeiaed Press 

SPACE CENTER, Houston — U.S. 
astronauts Biday outfitted the aging 
Hubble Space Telescope with two 
powexfol new efyes to enhance its itiew 
of ^ universe. 

. TIte astronauts, Marit Lee and Stev» 
Smidi, removed two scientific instru- 
ments from the HubUe unlaced 
them with two more powerful and ad- 
vanced components. 

The space walk lasted nearly seven 
hours. It was {volcmged a few minutes 
when the astronauts encountered dif- 
ficult tightening two latching bolts on 
the door to the insttument conqiart- 
mexiL . 

The two new composenis passed ini- 
tial tests. Th^ will be put to use af^ an 
alignment period lasting weeks. 

”You accomplished absolutely 
eveiythzng in the ttmeltiie,” hfission 
Contrors Jeff Hoffinan told the qiace- 


walkers. He called the successful mis- 
sion ”a great way to start” 

* *Frmn an astrontxnical pMoint of view 
h is almost impossible to imagme die 
Hubble Space Telescope being any bet- 
'ter than it has been die last three years,” 
he said. ”Ybu guys have made it so.” 
The instrument sw^ was the primaiy 
focus of the 1 0-d^ misrioD of die space 
shuttle Discovery. On Wednesday, the 
asdonauts pulled the telescope, which 
had been ofoiting Earth for sevra years 
and has logged nearly a Inllion i^es, 
into the cargo bay and placed it on a 
rotating platfmn. 

Three ctxisecutive ni^ts of ^ce 
walks are still required to upgrade nine 
otiier Hubble parts. 

One of the new instruments, a qiec- 
trogftfih, will allow the Hubble to jnalte 
two-dimrasional observations. At^ 
widt a sew generatian electronic li^t 
sensm- it will be able to look for 


companions of very bright stars — pos- 
sibly planets. 

TTie other instrument, a near-infrared 
camera and spectrometer, will give as- 
tronomers thra first clear view of the 
universe at wavelengths that cannot be 
seen with the human eye. 

The service call, the second in a series 
of at least four, was scheduled before the 
Hubble was put in space in 1990. The 
Gist visit, three years ago, was more 
urgent: astronauts had to inst^ cor- 
rective lenses. 

Mr. Lee and Mr. Smith disconnected 
the old spectrograph, an instrument 7 
feet (2.13 meters) high, 3 feet (91.44 
centimeteis) wide and d^. Mr. Smith 
then carried the 700 po^ (320 kilo- 
grams) instrument while die crane 
swung him over to the container in 
which it will be brought back to Earth. 
They n^reated (he procedure with die 
other science instrumenL 


Clinton Pushes Lake 


WASHINGTON — Pfesident Bffl 
Clinton has made a strong plea for the 
Senate to end its delays and confirm 
•Antbimy Lake as die next CIA <h- 
rector, describe his nmiuiee as 
"superbly qi^ified” and the arelu- 
tect of peace in Bosnia. 

Softly but intently pounding his fist 
on a lectern during a news conference, 
Mr. Clmton seemed irritated and im- 
patient with die latest postponement 
of a hearing for Mr. £^, who has 
come under scrutiny by Senate Re- 
publicans because of his peraonal fi- 
nances and his conduct as the pres- 
ident's national security adviser in his 
first tenn. 

“If someone has some reason to 
oppose him, let them oppose him in a 
hearing and then in a vote on the 
floor,'^ Mr. Qinton challenged Re- 
publican senators. But in view of Mr. 
Lake's service to the country, the 
ident added, “He deserves a 
ig and a vote on the floor of die 
Senate — and 1 hope he will get it" 

Mr. Clinton clearly wanted to dis- 
pel any pereeption diat he was not 
commin^ to 1^. Lake's nomination, 
de^ite the impression shared ev'en by 
some within his own administration 
that Mr. Lake was taf^d for the CIA 
mainly to make way for new Mood at 
the National Security Council. (WP) 


ation policies ctmtinued ui^changed. 

The administration says its pro- 
posals would save SI 18 billion in 
2002. Without those saviri^ the ad- 
ministration says, the deficit feat year 
would be $101 billion; but the budget 
office says it would be much bigto, 
$167 bUlioD. {NYT) 


Outcry on Welfare 


Deficit Differences 




a I Frill 


New Ecuador Leader Fires Predecessor’s Hires 


Agence France-Presse 

QUITO, Ecuador — fo his Gist act as 
Ecuai^'s new jairadent, Falnan Alar- 
con dismi^ed thousands tiS civil ser- 
vants vriio bad been xeciuhed under his 


r. Alarcon, who was elected Tuea- 
day by fee National Ccngress toit^lace 
Aodala BucaraiD, on Thuis^ ordered 
the di smi.sy al of about 6,00(f woricears 
vrito had hired under 1^. Bncaram 


and the lehiring of about 3,000 people 
who had been di^zdssed. during hzs 
rule. 

One of fee fired employees, Rosa 
Oliveros, refused to leave her Quito 
office quietly Thursday. 

"You can't do this to me." she cried 
as. ofeers calling her a Bucaram sap- 
potter tried to get her to leave her de^ 
”1 have a sick husband and three chil- 
dren to feed” 


Mr. Bucaram was ousted from the 
presidency by Congress a week in a 

vote feat accused him of corruption and 
nepotism and that ruled him “insane” 
and unfit to govern. 

Mr. Alaicon cm Thursday also ap- 
pointed four new cabinet ministeis 
defense, finmce. healfe and public 
works. He named two other mimsters, 
of govenimeat and the presidency, at his 
inauguration. 


WASHINGTON — The nonpar- 
tisan Congressional Budget Omce 
says feat President BUI Clinton's 
budget plan would leave the federal 
government wife a deficit of at least 
S49 billion in 2002 instead of iheSl 7 
billion surplus the White House pro- 
jects. 

The budget office's estimate 
Thursday was in line wife feose is- 
sued ly Rqniblicans last week, and 
illustrates the gap between what fee 
White House says must be done^to 
balance fee budget and what Repub- 
licans insist is necessary. 

June O'Neill, the Imdget office's 
director, said its deficit estimate was 
based on a comparison of the ad- 
mimsteation's projeoed savings 
in 2002, from spending cuts and rev- 
enue increases, against fee budget of- 
fice’s projection of what fee deficit 
would be if current spending and tax- 


WASHINGTON — Qinton ad- 
ministration officials have pleaded 
with Congress to restore welfare ben- 
efits for legal immigrants who have 
not become citirens. But President 
Bill Clinton came under blistering 
criticism from liberal Democrats, 
who said be tiiould never have signed 
the bill that ended such benefits. 

‘ 'The preridem sold out children to 
get re-elKfed,” Reinesentative P&te 
Stark, Democrat of California, said 
lliursday. "He's no better t^ fee 
Republicans." 

At a hearing of a House Ways and 
Means subcommittee, Mr. Stark said 
that Mr. (Tiinton should not expect 
much support for his pnqiosals to 
soften the effects of the new law. 

The liberals' scorn for the admin- 
istration, combined wife fee reluc- 
tance of Republicans to increase fed- 
eral spending for noncitizens, 
suggests that Congress may reject 
many of Mr. Clinton’s propels. 

But it is possible that sentiment on 
Capitol HiU may change if there is a 
outciy when elt^ly and disabled im- 
migrants actually lose benefits in a 
few months. 

"()ne of our greatest fears.” said 
Sharon Daly of Catholic Chides, 
“is feat fee United States will have a 
rash of suicides among the very old 
and disabled immigrants who are left 
without any source of income or med- 
ical care." fNYT) 


Quote/Unquote 


Nicholas Burns, the Stale Depart- 
ment spok^^an, announcing the cre- 
ation of an e-mail address (secre- 
tary@state.gov) for Secretary of State 
Maieleine Albright: “I cannot guar- 
antee she’s going to personally sit at 
home eveiy night ana answer every e- 
mail message, but I can guarantee 
people who do send messages to her 
that they will get a response from the 
State DepartmenL" (/NT) 


Away From 


Politics 


I Thousands of children get sick 


eacbyear eating cigar^es, fee fed- 
eral (Jratera for Direase (Zlontrol and 


Prevention reported. Eigjity-one per- 
cent of fee 9,733 people who ate 


• The U.S. Postal Service is steering 
dear of the pack-and-send business, 
which underwent testing at 260 of fee 
post office's 40,000 outlets. It drew 
heated ccffnplaints from private busi- 
nesses tiiat offer similar services of 
wraj^ting and sending parcels for cus- 
tomers. (AP) 


tobacco products in 1995 were chil- 
dren ages 6 and under, the agency 
said. C)f feose '9,733, 47 percent got 
sick. (AP) 


Eighteen trustees of AdelphI Uof- 


versi^ have stepped down, saying 
(hUD- 


• A fire started by homeless men to 
keep warm engulfed feeir cardboard 
shelter under a Brighton Beach board- 
walk in New York, killing three men 
and severely burning a fourth. {APJ 


tiiat they feared "^ssibly fatal 
age to this institution” u they con- 
tinued a fight for control of fee uni- 
verst^ in Garden City, New York. 
They were ousted by fee state Board 
of Regents on grounds of misconduct 
and neglMt of duty but had won a 
court 01 ^ temporarily blocking tiieir 
removal. (NiT) 


A Strike at Child Labor on Soccer Balls 


By Steven Greenhouse 

Nnt' yMt Times Service 


. NEW YORK — In a plan 
intended to fi^t child labor, a 
coalition of major sporting 
goods manufacturers and 
child-advocacy groups has 
ipledged to combat the sale of 
soccer balls that are stitch^ 
of children in 
'Takistah, which produces 75 
percem of tiie world's hand- 
stitebed soccer balls. 

~ Dose to 10.CXX) Paldstam 


childrai under the age of 14 
wmk up to 10 hoots a day 
stitching the Iratiier balls, of- 
ten for fee equivalent of $ 1 
a ^y. The goal of the pro- 
gram is to vripe om child labor 
in fee jndustiy in PakistaD 
within 18 mooths. 

The effort sets im a $1 mil- 
tioD ^uid that wul pay for 
independent monitors to in- 
spect ball-making sites and; 
for efforts to educate dnl- 
di^ some as young as 6, 
whose impoverished parents 


pushed them into stitchmg 
balls rather than going to 
sdiool. 

The program rnwesents tile 
first time tiiat all the major 
manufacnirers in an industry 
have joi^ wife local con- 
tractors and children’s 
including Save the 
andUiuceCtoolun- 
inate diild labor. 

But some children’s rights 
advocates wonder how far $1 


million will ^ in helpuig tile 


thousands of duldrra who 


VANCOUVER: CMnaUnm 


Continued from Page 1 




•die only roots many have put 
down are in the billions of 
.doJlais ib^ have pumped in- 
to the local ectxiomy. And die 

tentative nature of tiietr 
ridcncy here has led to frictioii 
teid resentment. 

panada had seemed an 
"ideal refuge to Hong Kong's 
'Upper class because u did not 
n^uire immigrants to declm 
wealth they held outside 
pjmafiq, leaving traditiem^y 
secretive rb«p«» fruntlies to 
squead out their fortunes. But 


triggered. After fee Tianan- 
men Square killings in 1989, 
panic over die ccvnuig 
takeover by the Chinese sent 
many Hong Kong families 
parlnng . They bmame ridi 
overact wh» tiiey sold tiny 
^raitments in Hong Kong for 
well over $1 millitm. 

In Vancouver, local resi- 
dents who .had cMsidered' 
feernsrives well off sntkfenly 
realizedfeat with fee arrivri of 


le sports eqnipment man- 
ufactureis pledged not to sell 
balls. made 1^ children after 
befog embarrassed by news 
reports and pressed by thou- 
sands of soccer-playing chil- 
dren and tiieir parents in 
Nortii America Eiuope, 
wto wrote letters and rigoed 
petitions voicing concern tiiat 
feey were playing wife such 
eompment. Last Sqitember 
Fv A, the inteniaiiraiu soccer 
federfoioiu said it would not 
endorse soccer bolls unless 
manufacturers certified they 
were not made by chadren. 


un- 


^ a new law scheduled to 






y 


/ 




into effea next yew woi 
'.force Canadians, mcluding 
•laiided fmniz^ants. to repo^ 

all accounts, :feares andmop- 

jtttv in excess of $75,000. 

Recendy, there have beoi 
reports of Kong immi- 

gnnis' being Biriled on atrivu 

at VancoQvers airport This 
may be a sign that the gov- 
enment is under pressure 
from dijpliugrmed Canadians 
who fisel tiiat Vancwver has 
_not benefited as much from fee 
munfonuns as was prtunised. 

But even though they may 
now be getting tt ’**^*^^ 
.ceptioi, more tiian 10,000 


4lmg koM hnmigranis still 
esme to Canada .last yew. 


■co ntin ui ng what l^ surely 
been one of flw most unust» 
w Immigrant raoveanoits m 
t.-Norfe American history. 

Pan of what makes the ex- 
"odiis from. Hong Korig ’^to 
‘Vancouver stand apart is .fee 
levwsal of rotes, it has 


UKUCWIJP AgWtA 

estate prices tb^^ inhered, 
tiieir own ecramiuc s t a n di n g 
had drtfip^ to middle riass. 

‘ *Immigiation is O.K. when . 
someone comes over m work 
8S a domestic or in a laundry 
because fee local peof^ cm 
feel snperior to tiiem,” said 
Ja(± AuAin. aseoa^ iw Brit- 
ish Columbia. '*But it'spretty 
bard to feel, qipeiior to* 
sofne one in a Mercedes:'' 
Toronto has taken 140,000 
jmnw gfaas fiom Hong Koofc 
about 25 percent more fean 
Vancouver. But since Van- 
couvw's populanon of about 
525.000 is only a quarter the 
size of metnntiitan Toronto, 
the nOXlOO unmigrants here 
have had a greater iropacL 
For the most part, Van- 
couver has welcomed the 
Hong Kong hnnugrant^ aim 
esnedaUv fee billions of doi- 
SSfeey Drought with them. 

The prwiucial gove rnmen t 
thw imniigrant mtrepre- 
^jts invested more than 

$195 fflillton te 1^5 and cre- 
ated 5:004 fiiU thhe jobs. 


The soccer-ball industry i 
entrated X 


Pakistan is coocentrat 


^ Stalkot r^pn of Punjab 


Prorince, where 

firomm early age fee art 
of stitching hexagonal ineoes 
QfJeather intobsdls. 

Jeff Ballinger, director , of 
ness for Oim^, a lri>or 


rights group, said: "The soc- 
cer-baO inoustiy is so coo- 
centrated in tiie SialkotremcHi 
and child labor is such a faot- 
button issue that they should 
be jxetty snccessfiil in poli- 
cong it there. But it's posribJe 
it could spread to other places 
in Pakistan, <ye even other 
countites.” 

The agreemeDt calls for 
soccer-b^ companies to re- 
gister the names of all con- 
tractms, individual workers 
and work locations to make it 
easier for mrmitors to fwret 
out duld labor. 

The Human Ri^ts Com- 
mission ofPaldstan estimates 
diat.childreo make 10 to 20 
ir balls pro- 
According 
to industry officials, children 
are paid 60 cexas on average 
for each soccer ball they 
stitch, usually at fee rate of 
about two halls a ^y, while 
a^ts earn a little more per 
ban. 

Comp^es taking part in 
tiie plan iocl^ Adidas, Ree- 
bok. Nike, Umhro, Mhie, 
Brine and 50 otfam. The 
compames said the plan 
mi^t push the price of 
soccer balls slightly. 


;t of all soccer balls 
in Pakistan. According 





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LH*ate-aiA 


INITIALLY SPEAKING, By Matt Ga£G«sy 


ACROSS 
1 SulTix with land 
ordiy 
6 Han^ 

14 Unhitched? 

20 Oio contender 

21 Attack 


22 Likeaocksina 
dniwar 


23 Noted guiiariP 

26 Some learning 

27 Kernel 

28 The Thames 
bordkisit 


29 Word of 
r^roach 

aeTntyiyp^^ 

32 Numbskull 
34 BaacUeader Paul 

38 Roman mine 

39 Atom 
4»Oik _ 

ek 


43 Marcus and 
• George 

44 FouMnnelndy 
winner 


50 NiMed youth grp: 


51 Miyeres, 

Metdoo 

52 Funiveson 

53 They don't want 
(o fight 

55 Should 
57 Atuchedaithe 
base. botanieaHy 

63 Druggie 

64 Eai^e mpire 

65 Recipe ami. 

67 HaNandiy 

where Giono 
painted 

69 ‘Surprised hy 
Joy‘ 

autobiogiapher 

74 Metric w^his 

75 ItmaybeWghin 
theaflemoon 

76 Count . 

77 Introductoiy 
materfal 

78 Loss by decay 
81 Wasntsodable 
S3 Strike kwaUon 
84 General 

announcemem? 
86 Stagger 



4e*irk* 


HOTEL METROPOLE 
GENEVE 


A PRIVILEGED PLACEI 
34 qum OMraKnaien I2H (teiswi 

loL: MI-22} 318 32 00 
Fac (41-2^ 3)8 33 00 


88 Notthebeat 
service 

89‘MyUttle 

□uckadee‘siar 

96 Medieval 
weapon 

97 Laugh liable 

98 ArtiOeiy shell 
component 

99 Asubstandai 
amountoT 
Louisiana 

too Goes around 

103 Tricked 

103 Rolb 

107 Vttamio C 
source 

108 Refuse 

112 Nolongerstuek 
on 

114 Understanding 
words 

115 Three^ime 
N.F.L M.V.P. 

121 Understartdhig 

122 Computer 
offering 

123 NotbefKt 

124 They're out in a 
game 

125 Prepares Fora 
rough ride 

126 Cardinal poinis? 


DOWN 

1 Buffalowing? 

2 Modern 
infomiation 
medium 

3 Tmyamouni 

4 Wheiegehuo 
was invented 

5 Liheamember 
oftheUB.N. 

6 Sedter-minded 

7 Conaiteet 
ac h i e v e ments 

8 Kind ttf comb 

9 Ciryarea 
19 ‘Rasier' 

diaraaer 
IJ Lkms'iwey 

12 Indians with a 
sun dance 

13 hmaybesiruck 

14 Eponymous 
Belgiutown 

15 AaorHolm 

16 An end to peace 

17 l994A.Lhome 
run king 

18 Son 

19 Garden loob 

24 Homes with 
domes 

25 CNdwarihiaat 
31 Elvis Costello's 

-My — True" 
33 Grave marker 
36 Sdvertreai 

36 Firstnamein 
1936 polities 

37 EarlySO’s 
sitcom 



€>New Yorfc Timea/EdUed by IPUl Shorts. 


39 “O U^ ‘ 
courtesan 

40 Namein1093 
news 

41 BmtheCal 


71 Kind of oil 

72 Ogle 


oronouncemeni. 
n the funnies 


73 *TheCouitship 
Of Miles 
Staodish" 
dtaiacier 


42 Alibi (Ibn. 

ofasort) 

44 Shanghai 

45 G.(. 
eniertaiiunent 

46 Greek cafe 

47 Shrovetide dish 

48 L^algrounds 
for action 

49 Poetic 
preposition 

54 Gray and Moran 
56 Argot 

58 Cettingaround 
well 

59 -h^ gar 
80 The best 

61 Kindofeslimale 

62 Got a (bt boot? 
64 ‘ — deal!" 

66 Some 

govemmem 
appropriations 
68 live plus column 
70 Pindown 


79 Travel fkbout) 

80 Dropadd? 

82 Preceded 

83 Traveb back 
and forth 

85 Abbr. in a help 
wanted ad 


102 LakeVolta:5 
country 

103 Ho-hum TV hte 

104 Adlai’s 'S6 
running mate 

165 Ukesome 
^nments 

105 Mosllikety 
winners 

109 Butts 

no Rat 


111 Pokey 
113 Stan of a classic 
Ladncpioie 

116 Broodmare 

117 Had fare 

118 Med. Specially 

119 Tiny terror 

120 &iid 

(IbnperMideBst 

lea^ 


SDlntioD to Puzzle ofFbfo 8-9 


87 Application 

80 Lynette . 

first fetnate 
Harlem 
Gtebei rotter 


□aaann nanan ononnoa 
□□□□□□□□□□□ anDnonoB 
Einnaanannnnn nannaoan 
agnn nnann annnB 000 
cinnna naannnnnno nmoo 


90 Took in, maybe 

91 AetorSiephen 

92 Congrandaiions. 
ofasort 

S3 PaHndnwnic 
English river 

94 Qiants 
OS Authorfae 
96 Beseech 


nnooa Hoasa 
□aa anna □□□□□ □□□□□□ 
nasn nanQ t3nnn 


nnaaana □anaoaann ono 
□□□gna nnnn non nnnriD 
gaag nnnao^nnnna noan 
□□□an nnn nnaa noDnnn 

□nn nDnannaoa naononn 

annn nnnn 

92S933-nnnnn nnnn nnn 


aggno^aniinn nnn nnnon 
anna nanannnnnn ofinna 


101 Ann e d cs - 
Plaines. Qufott 


ann anann nnnnn nnnn 
nngnggnn annnannnonnri 
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To OtJK KEADEBS IW FkAWCE 

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PAGE 2 


IIFIR AT.n TRIWJI^ SATUMIAr-ST^ EE»KCABy 



PAGE 4 


Cover-Up Charged in Hanbo Inquiry 


Agenee Franee-Fresse 

SEOUL — South Korean proswutors 
said Friday diat they were wrapping up 
iheir iavestigadra of the Hadw scandal, 
in which loans a^)parauly were traded 
for kickbacks. 

Tbe announcement triggered allega- 
tions of a cover-up from the opposi- 
tion. 

*'We’re winding up the investigation 
of bribery allegations m connection with 
preferable loans to Hanbo,*' a prose- 
cutor said. ‘*Froin now on, we’ll focus 
on collecting evidence and questioning 
witnesses to back up our case against the 
accused." 

Choi Byung Kuk, the senior prose- 
cutor, said Thursday that there was little 
possibfli^ that more po liticians or M|h~ 
level ofBcials would be aoraigned in con- 
nection with the scandal He also ruled out 


the possibilz^ of questioning deadest 
Kim Young son’s second sm. Kim Hyun 
Chuk wto the <^^)Ositk»i contends was at 
the center of the kickback scandal 

The audiorities have aziesied nine 
people since die investigation began — 
two bank chiefs, four lemlators, a dis- 
missed minister, the H^bo busing 
group's patria^ Chung Tae Soo, and a 
Hanbo executive. 

But the main (^iposhicHi National Con- 
gress frff New Politics accused the gov- 
emmenc of hunying to close tbe em- 
barrassing case 9^ vowed to reveal the 
udiole picture when the National As- 



Hyun Cbul playing leading role," the 
pa^ spok^m^ Chung Dmg Young, 
said in a statemenL 


The governing New Korea Party de- 
nounced the ^fpositioa for sjaeading 
"gronndless nimora" about the pres* 
i<&t and his family fra* political gain. 

But die omosiaon ^kesman said 
Kim Hyim Chul's daiiw of having met 
Qitmg Tae Soo’s son, the Hanbo Group 
ehairmBTi Chuog Bo Kwm, only ooce 
was a "lie. '* He charged that the two had 
met a number of times in Seoul and in 
Tokyo and had stayed at the same hotel 
in Attenta last July. 

The spokesman said that top pres- 
idential advisers, govemiseiit mmistarg 
and nfFjeiaie of the Office of Bank Su- 
pervision should be investigated as 
welL 

Kim Hyun Choi said ihrou^ an aide 
that be would sue the opposition when 
the investigadoo of the Hanbo case was 
complied. 


E U Urges ASEAN to Pressure Burma 


Reuters 

SINGAPORE — The European Uni- 
on said Riday dial it had uiged South- 
east Asian nations to pressure Burma in 
whatever way th^ chose in an effort to 
reform a regime widely accused of hu- 
man rights abuses. 

A robust exchange on how to deal 
with the military rulers in Burma and 
other human rights issues dominated 
two days of talks between the 15-mem- 
ber EU and the AssociatiCn of South 
East Asian Nations. 

"In Eurx^, we feel what is hap- 
pening in Burma is absolutely unac- 
ceptable in terms of violations of human 
ri^ts," Hans van Mierio, the Dutch 
foreign minister and cuirent European 


Union piesidei^ smd at a news con- 
ference. 

"The main message of Eun^ was: 
Please, do wfaat you can do m yoor 
region to influence the affairs. The way 
you do it, that is not for us to dictate," he 
added, "but we count on you to do it" 

Brunei, Indmiesia, Malaysia, thefbil- 
ippines, Singapore, Thailand and Vi- 
etnam are the members of ASEAN- 

Burma is due to join, possibly as early 
as this year. 

That has prompted talks on how the 
EU w^ deal with an ASEAN Aat in- 
cludes a regime it is trying to ostracize. 

Foreign Minister Herve de Chaiette of 
France said that his country would not 
lift its ban on gMng visas to senior 


Bunoese officials. "The attitude of 
France will not change fn* the mcmient, ’ * 
besaid. 

Asian ministers were cleariy not 
pleased by sudi talk. 

The Fhilqipine fozmgn minister, 
Domii^ SiazoD, said die Europeans 
were “in fact suggesting thai ASEAN 
delay admission" of Bunna. 

"We say that’s our business," he 
declared. 

Foreign Minister Shumnugam Jayak- 
umar of Singapore, co-cbaimian of the 
conference, said that foe two-bour dis- 
cussion on Burma was foe most sub- 
stantive in the 20-year history of 
ASEAN-EU meetings. 


Riots Go On in (Mna, Exiles Say 

•AT MATy, — Laaders of an exiled n a tio i MK rt 

TTijihiir group IQ Kaaksan Frid^ that riots in China’s 

psedcsoBiaDtiy Muslim iioxthwest wace oonfonung. desjnfe 
ftom fiima dlstuxbances bad been qimOed. 
‘*lbe riots' go cn in several areas of foe provizM of 



an i n f nr ii ni Ti{ Tn v ynmm amimd ifae evttli’ , 

nffiriaig s g jd WBck font riotDg last week in 

Yiniog, a town 50 Idlonieteis nules) frmn foe Kazak 
boidtf, h^been **fomeDted by hostile foreign forces’* but 
had finally bera quelled by foe aimy aod pow». (Reuters) 

CambotUa Feud Blocks 

PHNOM PENH — Hghting between foctions 
rival parties in Cambodia’s coalitioo goveroment closed a 
watifwiai highway Friday and troops were reportedly square 
ing off in tbe country's second-lazgest city. 

The ifniraH Natims mdeied its woikera not to travd on. 
Route 5 between the northwestern of Baitambeng, 
rat pitat of foe piovince (ff the same and foe border 
town of SisophoTL after troops loyal to the royalist . Fun- 
dnpec parly cut foe road. 

Oak Kim Laic, an Interior hfinistry official aod brigadier 
said he haH received re p ort s that about 60 Fun- 
s o ldie r s h»iH sunbunded a police scaticHi in Bait- 

(AP) 


Burma Attacks Key Karen Base 

MAE SOT, Thailand — Burma attacked a nuyor Karen 
rebel canq) FidiQ' and said it planned more raids aitfl it had 
falrpn pTI Tnithai y hi foe COUntiy (rf foe e*hme nUnority, 

soureessaid. 

Soldiers attacked the Karen National Union’s camp at 
Htee Ka Per in tbe eastern Burmese jungle, Thai military 
sources said, after overruoning three k^umcm camps wifo 
mortar and artillery fire this week. 

Tha fi ghting has <Mven more flian 20.000 Karen refugees 
into nei^fommg ThailaDd. On End^, Thai soldiers went 
on alert at foe Burmese border as refugees continued 
crossing into the country. (Reuters) 


Fortl^RBCord 

nn* consider resuming folks with India 
thtee are negotiations on Ka shmir , tiie^ sote-niQ 
AssodatedPtess ofPakistan rcpcttfcd. Ftixne Muusier H. D. 
Deve Grmdaoffiidra caUed this week for talks but ruled out 
discussicms rm die fovided of Kashmir. (AP) 

■ A rafrtmKc hisbop and three other people died 

inA plane xaasih'shprtly after attending foe bun^ of another 
bifopp who .was murdered in foe southern Philippines, foe 
military ariiibunoed, . (AP) 



POISON THREAT — A Sydney storekeeper re- 
moving Amotts cookies and crackers from the 
shdves Friday af^ an eicteirtionist threatened to 
plant poison^ piquets in Australian stores. 


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Personals 


lUY THE SACRSt HENRT OP JESUS 
be Bdned, gkNeel lomi aid presemd 
dnughoijl the mitl, now aid forewr. 
Smd Heat Hi Jbbb. pay for lA Save 
Jude, mrtcer of mvedes, pay Ip us. 
SaiP Jude, helpp p Bie hopeless, 
piq kx us. Aioen. ^ tvs pa^ im 
tun a day, by die rail) day yov pnyp 
■a be atBwml It has never bem 
known to lal. Piibkcalion must be 
pa i oal . THANK YOU SAHfT JIAE 
AND SANT ANTHONY iw PI 
answered. Plaasa continiie to 
aAaiB.J8T. 


HAY THE SAOED HEART OF JESUS 
be alored. dotried. bred awl pressmd 
Sniiiri>d m mill now end torewr. 
Sacred Heert of Jesus, pray tor ia 
S aM Jude. woAar oi miedes. pray tw 
US. Sahn Jude, helper p tbe hopenss, 
pay hr us. Ainen. Say dds prayer rdne 
hmes a day, by the oMi dty. you 
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TANYA- HAPPY BIRTHDAY 
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want to hold your hand. Much toire - 
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INXEBKAJlOTOaHEiU^ TRIBUNE^ SAmSlkAY-SlINDAS; FEBRUARY 15-16, 1997 




Tajik Rebels 
Begin to Let 
Hostages Go 


■Russian Aide Reports 

[Break in Stalemate 


WSHANBE. Tajikistan — The 
iea<^ of a rebel Islamic group holdliig 
14 hostues in Tajikistan said Ridw 
that he had started fuelling an sigre^ 
n^i to free the captives in excbai^ for 
c^her rebels. 

D^iy Prime Minister Vitali Ig- 
who was in frequent 


. ■ L ’ uiucuucm 

tel^lTO contact with the i^l war- 


■t 


. Bakhram Sadirov. told the Itar- 
Tass news agency that an exchange that 
could end the 10-day gtalamatp. ^as 
under way. 

The rebels' main ccMiditioD for re- 
leasmg the hostages, seized more than a 
wwk ago, has been for the Tajik au- 
}o fly in rebel comrades from 
neighboring Afghanistan and allow the 
two groups to meet in>. 

The hostages inclode three United 
Ni^'ons observers (two frt»n Switzer- 
land and One from Ukraine), four Rus- 
sian jounudists and four workers with 
the UN refugee agency. 

Mr. Ignatenko sa i d after an earlier 
conversalioD with Mr. Sadirov that re- 
pc^ that one hostage, a United Nations 
military observer, had been Httprf were 
■not true. 

Tass lepbried that two women hos- 
• tages, reporters froth Tass and Interfax 
I news agencies, were already iip-arttng 
■ out of die rebel camp widi a driver for 
Russia’s NTV television network. ' ' 

The rq>orters have been i«nding fre- 
quent reports to their enmioyets in Mos- 
cow on die rebels’ satdl^ teleiAone, 
but it is not clear to what extent th^ 
were simply reporting what fheir 
. captors told them to say. 

; Tajikistan’s security miniiaeT was 
^ seized last wedcead when he tried to 

- negotiate with the hostage-takers, who 
; once backed the freiser Soviet repub- 
: lie’s Islamic opposition but whose loy- 
’ aides are now unclear. 

s Russian new agencies also reported 
P that Mr. Sadirov had demand 300 

- automaiic weapons, four grenade 
launchers and ammunitimi as part of the 
deni. 

It was not clear whedier diis con- 

• dition was met 

Mr. Sadirov said that if his 40 com- 
■ rades reached his base widi their 
: weapens on PridsQr, he would free his 
: captives. 

* “I’ll release everyone. I give my 
word. I swear, to AD^,’’ Mr. Sadirov 



Beijing and Seoul Face 
Dilenuna Over Defector 


Fore^ Ministers Meet in Singapore, 

But Chinese Say Solution Will Take Time 


Mr. Netanyaho and Mr. CliiittMi endiiig their meefii^ which an Isradi said Friday made no breakthrough <m Syria. 


No Terms in Syria Talks, Israeli Says 


Roam 

WASHINGTON — Prime Minister 
Benjamin Netanyahu rejected Syrian 
demalnds to pick up peace talks at die 
|x^ where they ^ o£f with ^ pre- 
decessors’' govqn m eDt and acoued 
Damascnsofi Friday of blockznglsraers 
desire to withdraw from Lebanon. 

“Obvioizriy wc will take note of ^riiat 
took ^dace in du. talks between Syrian 
negotiatOTs and die previous govern- 
ment,’* Mr. Netanyahu said in a speech 
to the Washingtem Institute for Near East 
Poli^, a private leseardi organization. 

But, he added, “we cannot be bound 


His assessment contrasted with a mcae 
optimistic statement by Mr. Qintob diat 
he bad hopes talks would resume. 

Mr. Netan>a^ said he was “still 
Jed** by Syria's refusal to discuss an 
li withdrawal fixnn southern Leb- 
aooa in return for an end to awarJfg on 
Israel by HerfiollahgDerii^ in LAanrei 
who opa a te with tacit Syrian approval 
“I am saying that we want to whh- 
draw from Lebmcm,** dte prune minister 


^was quoted as sayinj^ 


[Reuxers,AP,AFP) 


iations and suggestions and hypoth- 
eses. We can only honor signed agree- 
ments.” 

Syria has said die Israeli govemo^ 
led by die Labor Par^ t^gr^ to widi- 
draw in frdl firc»n the Golan Hei^ds, the 
mflin point of contention in the fr ve-yetu- 
old ttfks. Bui Mr. Netanyahu’s libid 
govemmeut opposes such a wididrawai. 

Labor brolte offpeace talks almost a 
year ago after a senes of bomb blasts in 
Israel, and they have not resumed. 

Discusrions Thun^ between Mr. 
Netanyahu and I^esident BiD Qintos 
node no breakthrough on lesumpdrei of 
talks with Syria, (he Isneli cabmec sec- 
retary, Danny told Israd Raefio. 


cannot be bound 1^ 
conversa^ns or by ide^. 
We can only honor 
signed agreements.’ 


said, but he added, “1 am bemg told inthe 
Syrian press: Don’t withdraw from Leb- 
anon. Now Syria ostensibly seeks our 
withdrawal Iwt in practice isqiedes it." 

Middle East drpiocnats say Syria sees 
die Hezbollah attacks as leverage in tte 
Gbltei dispute. Syria has rejected Israeli 
pHmosals to discuss Lebanon before 
dealing with the Golan Heights. 

Mr. Netanyahu said that if lYesideot 
Hafez Assad decided to ‘’choose the 


path of peace,’’ the Syrian would find 
the Isradis “reasonable and cooper- 



%OT CARGO — Firefighters at lstanbiil‘’s Tuzia dockyard continuum to hose down Turkey’s bluest oil 
•tanker Friday. The fire, in wUch 21 people were ipjored, Invke out after an explorion on tte vessel ITiursday. 


BOOKS 


JLOITERING 
JWITH INTENT: 
j;The Apprentioe 
: By Peter O’ Toole. 406 pages. 
TS22.95. Hyperion. 
Reviewed by 
!•; Jonathan Yardley 


tpCTER O’TOOLEJ^ 


•* love with words: obs^- 
“ively, hilariously* madly 
-iwoid-besotted. One of the su- 
i! peribr actors of his time, and 
"certainly one of the most pi- 


dowb with peo and ink- on 
paper by a master dramatist, 
die singuiar dictiori o£ his 
characters, tbe zidirtess of his 
stories, dw cunning of his 
me nert (Huy bow fo 
play my parts but also at last it 
is tile e xp i esa on of tbese 
thoughts ^ speech and move- 
ment which forms my purpose 

in being an actor. Tou'may, 
dioi^ you vrill find me fe- 
recioudy reluctant inaUowins 
you to do SO, take from me ray 

I Wtftmr g ■■¥■■ ■!>■ MV 



perquisites, n^ivopcrti^ffly 


flim-' 


/ii; Aiiiud t 

-:ana me middle and the eod o. 
lall one’s performances . . . m 
the writer’s text” Whesevw* 
he eocoumers “good wm- 
-mg,” it “is alive on the page 
amftalfcs to me.” Ashepassed 

•ithrou^ his af^aertbee^p^ 

*:ihe Royal Academy 
■tfitetic Alts in foe eany 1950s, 
*ihe discovery of wjwJs was 
ilcentral to his education: 

^ “As foe music and the 
^gic in the a tx aqg e m eqi am the 

^meaning words hiid In m me 

, !througho« my cbfofoood foe 
that wt^d m tune li^t 

'my way 10 becoming an 

.■Jso now, as it htf been 
’ihroucfoout my professional 

'Xe, the sounds of thoughts set 


M playhEUses, all finery, 
and gtHgeousshow; 
take them, say 1, wreck them 
sh^d you begrudge my hav- 
ing them* cr should you judge 

them to be'chw unnKes- 
saiy, worthless; leave me 
thoD^ you mealier sods, one 
entity 01 ^ and gladly sh^ I 

go on: leave me foe word.” 

As that passage makes 
plain, no one has taken any 
away from Peter 
O’Toole, “Loitering Wfo Ih- 
lenc The Apprentice,” foe 
second vdlmne of hismem- 


sewuu ^ " — - 7 - 

Qirs. porilively eiqilodes with 
won& srane of.tii^ land^ 


bang-on target* soote of them 

spuming wudly off Into foe . 
Sikiiown. Much ctf it makw 
sanse, some of it is ~- 7 * or at 


. least seems -^{Mre nonsense. 
But ail of it is alive with 
words, as possessed by them 
and as bannued by them, as 
•anything by that writer so 
.deeply loved by OTooJe, 
' Dylan TheuDas. 

This entire book is a love 
song, sung for O’Toole’s 
youth and ftt* ^ those t^all 
ages who weire wifo him there 
: m London when “we had foe 
: best of iL ' ^Readers fortunate, 
encxigh to know his first 
yolucM of autolMogra^y, 
“Loitering With Intent: 
Child,” 1 !^ recall chat at its 
ouidusunL .he had finished 
his duti^ stint in Britain’s 
mvd- service and had re- 
tnni^ to find hims^ accep- 
ted at tbeRt^ Acad^y. He 
wai there o^y a coi^le of 
yetts, bnt bn the evidence 
bei^ foey must have been 
foe of his life, filled 

wifo friefldship. youfofril 
misbdiaviori the kind atten-!> 
tioii of older mencoix and a 
dawning sense of the wrald 
into which he . was . gaming 
entry. There are times when 
readiug his account rtf thoe 
days requires estherfoe 
patiesice of a saint foe in- 
sapretive skills of a cz]qim- 
gc^iher. hut foe labor is 


ways rewarded; this is an 
inf^ously joyl^ boedL 

The connections among 
O'Toole aul bis fellow sni- 
dents were complex, intimate 
and deeply rewarding. He 
writes about all of them wifo 
an affection that foe years in 
no way l^e compromised. 

All of fois plays out against 
8 hackgroi^ pronded by 
Edmund Kean, foe great actof 
of foe early 19fo centmy, 
whose spniit is eveiywhere 


O’Toole, for all his play- 
fuloess and his puthcrawiin^ 
is a serious inden t of the 
theater whose seise of its past 
— aod his own indebtedness 
to titet past — is powerfiiL It 
is the rock whidh 

O’Toole’s life, as well as this 
beguiling book, is built 


Jonathan Yardley is on the 
staff cf The Washington Post. 


NEW AUTHORS 

PUBUSH YOUR WORK 
ALLSUBJECTS CONS03EAED 
AuttioiswoildAnde bwted 
Vftdei or sere yow niwuscripi 10 
MNBWAPRESS 
aomsMiinQirBD lODw 




alive partners.’’ He gave no details of 
what Israeli officials had said was his ' 
formula for restarting the tallcR 

The prime minister ^ve no sign of 
flmubiliQ' in calks with Palestinians due 
to resume next aumth to decide the final 
status of Palestinian self-rule areas. 

Jenisalem, one of the points at issue, 
“wiQ continue te be undivided and under 
our sovereignty.'' be said, and Pales- 
tinian demands for a state covering all of 
foe occiqjied temtories and East Jeni- 
salem woidd cause the talks to collapse. 

He also said Israel was “certainly 
going to develop” existing Jewirii set- 
tiements in the occupied territorres, al- 
though it had not decided on new raies. 


■ Gnardwig for Nudear Terror 

Israel is prep^ng for foe possibOily 
that terrorists will use nuclear or other 
lUHiconveatioDal weapous against it, the 
govenunent’s chief anti-tenor adt^ser, 
Meir Dagan, said in an interview pub- 
lished Iriday, The Associated Press re- 
pexted from Jerusaletn. 

llie collapse of the Soviet Union has 
made technology for nuclear and chem- 
ical weapons easier to obimii, Meir 
Dagan, a major general in foe army 
reserves and head of the new anti-teiTor 
force, cold the newspaper Yediofo 
Ahronofo. 


SINGAPORE — Chinese and South 
Korean foreign ministeis failed Friday 
to resolve the foplomatic crisis caused 
by foe defection of a senior North 
Korean official who has t^cen refrige in 
Seoul’s embas^' in Beijing. 

China said a solution would take time 
but that the process lovrard resolving the 
dilemma had been set in motion after the 
50-minute meeting between its foreign 
minister, (^ian Qichen, and his South 
Korean counterpart, Yoo Chong Ha. 

“I am afraid that this questxmt cannot 
be resolved so rapidly as you hope, as 
you imagioe.’' a Chinese spoJresman, 
Guo Cbongli, told reporters in com- 
ments on the defection drama involving 
the North Korean Communist ideo- 
logue Hwai^ Jang Yop. 

“Wears investigating fois maner and 
the aj^ropriate resolution of this matter 
is under way.” ihe ^kesman added. 

Mr. Qian met with Mr. Yoo on foe 
sidelines of a Europe^ Uiuon-ASEAN 
meeting here. He sud that Beijing had 
been surprised by the defection and 
needed more time to investigate the 
issue. He said that until a soaition is 
reached “all parties should treat this in a 
cool and calm manner and handle this 
really cautiously" in die interest of 
peace on the Korean Peninsula. 

The ministers met two days after Mr. 
Hwang arrived in a taxi at the South 
Korean Embassy compound, prompting 
fresh tensions on the Korean Peninsula 
and embarrassifig China. 

South Korea wants safe passage for 
Mr. Hwang frxim Beijing to Sexml, but 
Chinese officials said it was premature 
to say bow Iraig the investigation would 
take. North Korea argues foat Kfr. 
Hwang was kidiumj^. but has 
provide DO evidence for the claim. 

Mr. Qian stressed that China had no 
warning of foe intentioos of Mr. Hwang, 
73. a top adviser of the North Korean 
leader Kim Jong n. 

“Actually we didn't know what 
happen^ to Mr. Hwang in Beijing," Mr. 
Qian said. “We were totally in the dark 
befnehand. We were not aware of a 
stt^iov^ in Beijing. He did not stay in 
any Chinese hotels or guest houses.'* 

Mr. Hwang present^ himself to staff 
at die embas^’s consular section i^y 
Wednesday during a stopover on bis 
way home from a meeting in Tokyo. 

Soufo Korean officii said talks 
would resume tiirou^ diplomatic chan- 
nels in Seoul and Beijing. Officials did 
not say whether mixe meetings were 
planned in Singapore. 


“It wiU take a little bit more time for 
them. We have started diiscussions and 
will carry on more discussions,” Mr. 
Yoo said. 

The Chinese spokesman, asked 
whether China, close to both Koreas, 
would mediate a solution, smd, “lliis is 
something which has just happened and 
it is diffiewt to say how different parties 
will play roles." 

He said it was up to “relevant au- 
thorities’* in China to decide whether 
the investigation should include the 
questioning of Mr. Hwang, adding foot 
Beijing hoped peace would be main- 
tained despite the “twists and turns" cm 
the peninsula. 

Ibe 72-year*old Hwang, one of the 
main authors of North Korea’s isola- 
tionist ideology. Is foe highest-level of- 
ficial yet 10 try to defect to foe Soufo. 

His move occurred at a sensitive time 
for Pyongyang, which will celebrate the 
55fo birthday of Kim Jong II on Sat- 
urday. Mr. Hwang is married to a cousin 
of Mr. Kim. 

The defection bid is awkwazd for 


China, which has sou^t to follow 3 
I pofic' 


strictly evenhanded policy toward the 
two Koreas since establishing ties with 
Seoul in 199L 

As foe foreign ministers met in Singa- 
pene. Mr. Hwang was still holed up in the 
closely guarded embassy in Jteijing. Mr. 
Hwang, who could face summary ex- 
ecution or a lifetime in prison in the 


North, was in good health and sleeping 
Korean Embas^ spokes- 


weU. a South 
man said. 

About 40 North Koreans in a dozen 
dlidomatic cars were parked just behind 
police roadblocks set around foe em- 
bassy's consular section. 

Dozens of armed Chinese police vrere 
keeping watch over the area, with police 
mimvans parked across each of four 
roadways leading to the ctKnpound. 

A North Korean official standing out- 
side the police cordon said that there 
were no plans to storm the compound to 
recover a countryman Pyongyang had 
said was Iddnapp^ 

“We are waiting here for him to 
come out and then ask him to come 
back." smd the official, who declined to 
identify himself. 

‘*If Cluna allows him to go to South 
Korea foeu we will be dis^ipoiated," 
said another North Korean, one of about 
10 waiting beycHid the police cordon, 
trademark badges of Ae late North 
Korean leader E Sung pinned to 
(heirlapels. “ItwUJ beregretnfole.” 

(AFP. Reuters) 



in the Virgin Atlantic/IHT Competition 


Simply match the location of the following golf courses to the 
corresponding Virgia Atlantic Airways destination. 



l.RoyoJFanLiDgGoJ/Ciub 


2. GiJfahda Golf Couxse 

3. Wanderers GC 


Virgin Atiantic Destinations 


4. Bay Hill Golf Club 

5. Wenrwt^tb Golf Club 


Fill in the coupon below and fax or mail your 
entry to the Intemationai Herald Tribune. Or 
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Deadline: March 31, 1997. 


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d. New YorJc JFK 

e. Boston 

f. Wasbmgton DC 

g. Orlando 


h. Mi ami 

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m. Athens 

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V 



PAGE2 


IAGE6 


HeraU> 


fNTERNATIOlVAL 



SfrUtune. 


PtIBUSIGD WITH THE NEW YOU tlMEE AND THE WASHINGTON POST 


No Inyestnient in Burma 


The Clinton administration may be 
nearing a decision point on Buima. the 
South^st Asian nation that has been 
deformed a brutal militaiy dicta- 
tor^p. 

Bresideot Bill Clinton's top foreign- 
policy advisers should recommend ac- 
tivating a ban on new American in- 
vestment in Bunna. It would be an 
excellent start fm* Mr. Clintcm's new 
team, and give Secretary of State 
Madeleine Albright evidence of Amer- 
ican resolve diat be useful in her 
visit to China in 10 days. 

The decision should not be difficult 
Last July. Congress passed a biU au- 
thorizing a ban on all new U.S. in- 
vestment if Burma's government 
harmed or reanested the democracy 
leader Daw Aung San Suu Kyi or 
cracked down on the democracy move- 
ment The law. introduced to undercut 
a tougher sanctions bill, was sponsored 
by Senator Dianne Feinstein, a Demo- 
crat and William Cohen, a Republican 
and now the secretary of defense. His 
enthusiasm for invoking the sanctions 
is doubtful. 

Unhappily Burma has met those 
conditions. Daw Aung San Suu Kyi 
renewed her call for sanctions early 
this month when she criticized the gov- 
ernment for the recent arrests of dozens 
of student activists. She was held under 
house arrest in December. The State 
Department's new human ri^Us report 


says that severe repression increased 
last year. American officials also crit- 
icize Burma's regime for prottcting 
major opium trafiickeis. who run busi- 
ness empires and help sustain tbe fi- 
nancially weak government by buying 
state assets. 

Raiming oew investment should not 
impose a hardship on the American 
business community. Unocal, which 
owns part of a gas pipeline that will 
provide the Burmese govenunent with 
a major source of hard currency, is 
already die largest American investor 
in Burma and one of few companies 
increasing its stake. Unocal recently 
paid the government several million 
doDars for new rights to explore off- 
shore gas deposits. 

Unocal is the shameful exce^on. 
PepsiCo has just joined a long Cst of 
American and European companies 
p ulling ouL They axe leaving to avoid 
bad publicity ai^ new laws in Mas- 
sachusetts and several American cities 
barring public contracts with compa- 
nies that do business in Burma. 

Mrs. Albri^t and BUI Richardson, 
the new UN representatiye, have both 
visit^ Burma and met with Daw Aung 
San Suu Kyi. Their commitment to 
protecting human rights will seem 
empty if they and otiier senior advisers 
fail to urge Mr. Clinton to take action 
against Burma. 

— THE NEW YORK TIMES. 


Rethinking Foreign Aid 


With a new administratioi and a oew 
budget ye^, die issue ofU.S. foreign aid 
— what h should do. wbo should ad- 
minister it. whether to bother with it at 
all — is percolating once again. This 
rime, it is not only traditional stepto 
such as Senator Jesse Heims raising 
questions. Frioids and supporters of de- 
velopment assistance also contend that 
foreign aid is “adrift" and in need of 
“major instimiuHial lestructuring," in 
the words of a report recently published 
by tbe Overseas Development Council 
a^ the Henry L. Stimson Center. 

American support for foreign aid has 
declined since its Cold War heyday. 
The United States ranks last in giving, 
proptxtionate to its economy, among 
industrialized nations. This is not as it 
should be. Yes. diere are plen^ of 
places where fb^gn aid has been ioiis- 
directed, misused and/or <hibious in im- 
pact But die fact is diat foreign aid has 
also done a IcA of good, from promoting 
the green revolution diat helj^ feed tbe 
world to rignificandy extending life 
spans to helping secure democracy in 
Poland and other transitional countries. 
Why should It iK>t be continu^ and 
in^HOved? It's still in die U.S. invest 
to promote dCTiocracy^ and free maricets 
in die world's poorer countries, to re- 
spond to famines and odier human- 
itarian emergencies and to prod reform 
and peace in the Mideast, the former 
Soviet Uruon and elsewhere. 

In many cases, die World Bank and 
odier multilateral agencies can best (so- 
mote those goals. Tbe United States 


retains huge influence in those insti- 
UitioQS wtule not ha^g to foot the 
entire biU, making for cost-saving lever- 
age. That’s why it makes no sense for 
the United States not to pay its share. 

fri some cases, bilat^ aid gives 
more leverage. The key. dxw^ is not 
to allow prograou to b^me welfaxe- 
like entitfemencs in countries dial aren't 
reforming their ecoDOmies. Aivate in- 
vesttnent flows to the develofung woiid 
now dwarf public aid; countries diat 
follow the ri^t policies ought to be able 
to graduate from aid within a set num- 
ber of years and begin attracting private 
money. Tbe clearest entitlement in the 
U.S. aul p rogr am is tbe annual dole-out 
to Israel and die administration 
piopo^ for 19^ awards those two 
countries $2 biDicrn of a total aid pot 
$6.5 billion. Paying fordie Camp E^vid 
accords was die li^t thing to do, but 
now it's time to put bodi countries oa. a 
sdiedule toward graduatiCHL 
What does this mean for Mr. Helms's 
proposal, newly reborn, to merge the 
A^ncy for International Development 
into die State Dqiartmait? Given 
State's management problems, a full 
rneigCT might not inoduce great effi- 
ciencies. But Mr. Helms is correct that 
insulating foreign aid from UJS. foidm 
polk^ no longer makes any sense, if it . 
ever did. The goals of bodi State and 
AID should be to prraiote democracy, 
free markets and human rig^. and bet- 
ter coordinating their work in diose di- 
rections would make sense. 

— THE WASHINGTON POST. 


Mideast Momentum 


Prime Minister Benjamin Netanyahu 
of Israel called on PieadentBiU ClmtoQ 
Thursday with tbe Mideast peace effiirt 
bade on track. Presid^t Clinton tried to 
nudge matters ahead encouraging 
Israel and Syria to Teturo to ihe bar- 
gaming table to discuss the Golan 
Heights, diplomatic relations, security 
and Lebanon. No new talks were an- 
nounced, but both Mr. Netanyahu and 
Syria’s prudent, Hafez Assad, appear 
mterested m resuming discussions. 

Tbe Israeli government sees nego- 
tiations with Syria as the best way to 
ease dome.sUc pressure for withdraw- 
ing troops from Lebanon. Damascus 
does not want to be left on die sideli^ 
as Israel and the Palestinians move 
tow'ard a final peace. 

Since two Israeli helicopters ferry- 
ing troops to Lebanon colli^ Uik 
w-eek, killing 73 soldiers, there have 
been calls for Israel to withdraw from 
the oine-mile-deep border zone it 
patrolled since 1985 to discourage 
rocket anacks on its nordiem villages. 

Politidons from led and ri^. in- 
cluding dovish Labenites, reixesenta- 
tives of West Bank setder groi^ and 
one member of Mr. Netanyahu^ cab- 
inet. have argued diac the longer-iange 
rockets now used by Lebanese Hezbol- 
lah gucirillas moke the buffer zone stra- 
tegically meaningless, a source of Israeli 
military casualties with few benefits. 

Mr. Netanyahu and many cMher 
Likud and Labor politicians disagree. 


arguing diat withdrawit^ Israeli troops . 
widiout an agreement with Syria would 
send the wrong signal and leave a dw- 
gerous security vacuum. On Thursday, 
Mr. Clinton endorsed the prime min- 
isier's stand. Comixehen^e discus- 
sions with Syria are tbe right t^sprosch 
to the Letemon problem. Negotiated 
agreements are the only proven path to 
peace in die Middle 
On the broader issue of Isiaeli-Syr- 
ian peace, bodi sides now seem close to 
resuniitig talks that were suqieii^ last 
year. The previous Israeli govenunents 
of Yitebak Rabin and Shimon P ero 
were prepared to return virui^y all of 

the Golan Heights to Syria in exchange 

for full diplomatic and economic re- 
lations and security guaran- 

tees. Before tallLs brake off, progress 
had been made on defining futtn re- 
l^ms, but not on security issues. 

Mr. Netanyahu, who proposes le- 
tuming only part of the Golan Heigt^ 
has offered to talk about ^ issues 
without preconditions. That should be 
enough for Damascus. If Syria is more 
forthcoming on security guarantees, it 
can reasonably expect Is^I to sof^ 
its stand on returning land 
As Israel previously discovered widi 
Egypt, the Palestinians and Jordan, 
once serious peace talks begin they can 
develop their o^ momentum. The 
cunent opportunity to begin such talks 
with Syria should ntK be missed 

— THE NEW YORK T7UBS. 


Kctulb^S^nbune. 

" w iwB 4’» i» HU— a u l m» 

ESTABLISHED ISST 

KATHARINE GRAHAM. ARTHUR OCHS SUL2SERGER 
CthChairmen 

KATHARINE P. DARROW. Vke Charnm 
RICHARD McCLEAN, PiAtisher & CMitfExeaaiw 
MICHAEL GETLER, Executive EdUor 

• WALTER WELLS. Mmfuug EdUor • PAUL HOR VITZ, D^nuy &&»■ 

• KATHERINE KM)RR ari CHARLES MnOSUMORR Depunr £di((n • SAMUEL AST ad 
CARL GEWmZ, Amriatp fiScors • RtttERT J. DONAHUE. Ai,^ 

« JONATHAN GAGE, Business and Finance Editor 
• fl^BONDY, Deputy Pahltsher 

* JAMES Mel£QD. Duueier • DIDEER BRUN, Cimdatkm Duuaar. 

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^l^.^uemB6euctHtrMTt^.ABn^imrtd.t^ IWAB: 


SATDRDAY-SUNDAY, FEBKUAIff lS-16, 1997 

EOrrORIALS/OPINION 


Zaire and the Lethal Folly q 

W ASHINGTON — Thebestqiuck Tty J wn WeiarfaiTiil todiei^ 

descrhrtimi of America's belated pean dipl 


VY descrijrtirai of America's belated 
effort to do the right thing in Zaire 

comes not in a poliry p lanning paper nr 

a classified embassy c^e. but in “bn 
dqiendence Day," Ridiard Ford's re- 
cent novel in whi^ the real estate sales- 
man-nazrator observes fiat life's, 
saddest feet is this: 

“You see the very thiiigs you'll never 
ada{X to coming toward you on the bo- 
rizoo. You see them as the problems they 
are, you worry like heD about them. ... 
You ten yoiBself you'E have to change 
your way of domg dun^ Chily you 
don’t You can’t Somehow it’s alreachr 
too late. And maybe it's worse dan that 
Maybe the thing you see commg from 
fer away is not the real thing, die duQg 
diat scares you. but its afiennadi.’’ 
you’ve feared has already happened. 

Mr. E^oid is not writing ab^n^on- 
buflding in Africa. He writes of die 
^blems of one New Jers^ man's 
dysfunctional family, and his trauoiis . 
professional life. Mr. Ford avoids the 
big picaire, he ignores tbe grand ab- 
stractions that pump up die papers of 
foreign policymak^ and experts. He 
looks at die fears, hatreds and ideas 
that drive pec^ie. 

And iher^ lies the value of ap- 
plying a novelist's prime thooght to a 
problem like Zaire. 

Tbe grand absoactions of tbe Cold 


ByJnnHoa^anA 

War held American ptdicymakera aid 
politicians ^peUboond udwa it came to 
Zaire, and to many bdier places. Tbe 
coiruption and misrule m the r^ime 
beaded by Marshal Mobota Sese Sdeo 
could be cleariy seen by U.S. offirials. 

Someday snmatfiing would have to 
bedone. ' ' 

But it never was. The ambassadors 

and diexr bosses in Wa^bingtoa alw^ 


to die agCTwfa- of American .andOSuzo- 
pw»n diplomats who sre sctamblii^ 
wildly to -prevent somedung diat may 

have alie^ fe^pened: the oqU^ of . 
Zaire as Geotitil Africa's Irigge^ most 

important state. The dung “coming 

away" is here 

A rebel anny is sweeping, tfarougb 
die country's eastern 'provntces, bn- 
Marahal Mobota's “anny." 
a nmacn^ mob that sloudy dtsmle^ 

' gndSas die government in Kinshasa 

cea^d to functiem and central authority 


We can't 

Aliiwuiring ’ Marghal MobUDl WOUId 
'drive him into tbe arms of the Soviets, 
wbo would register a ^^un in thar 
march to woriddomniadoa. 

Tbe real {ttoUems and grievances of 
the peoples of Zaire — sudi as die 
ethnic Tiitsi of the east — were re- 
grettable but not somediing Zaire's 
.'various — dm United States, ' 

France. Bel^kun — could fit into dieir 


Marriial Mobubi's refusal to extend 
ririwwiiAi p to ibe Tutsi who live 
in Zaire was most unfortunate, but not 
germane to dfokmiac^. 

Nor were effective measures taken to 
counter Maisfaal Mobutu’s^ rqieated 
sabotage of democratic elections and a 
transition cf power to othecs. 

Suddenly mose two frems are central 


The rebri ^uwanoe u powerm 19 IM 
-reseatmeot bf dtedfeennan^ise dTai c-- 
sL who widt theSuppbrt'of nexgidinDig 
Rwteida and.Ugaim have seiz^ con-, 
trol of die remon diey inhabit The 
lebeOida's Itiito', Lauroit Kabila, says 
tbe rev(dt wDl continue mail a new 
govemmeoc is installed in Kinshasa. 
Maridial Mobutu. gravely Ql widi can- 
cer, has rushed bmm fi^, to 

oennize a final defense.' 

'*nieiy. dramatic events have rao- 
duo^ an nnadmowledged bm dear 
ccxiscmus "mrmg the countries 
economic and p^tical ibtezests at stake 
in Zaire; It istime frv b^uriial Mobutu 
to go.' If necessary and feasible, .ways 
will be found to him go. 

A decade or two ago, that consensus 
could have been the basis for effective 
action. Washington. Paris and Brussels 


ons 


had levm of potato pull in Zaire. But 
a ccxisensus coddnbtbe adiieived dien. 
The United States tumedto a pdicy of 
isolating Nfeishal Mobutu, doiying 
73t«m economic cie aid ^ re- 

ducing contacts atall leviels. 

Thzou^ di^ ^uen^polides of 
.unquestioning acceptance and, uiidis-. 
diminating rejeetton 'of Marshal 
Mobutu’s regime, die Ihtitod States has 
isi^buDBd itseff-fitra bavn^ rigDificam 
influence ia Zaire at>fee:moeaeni that 
counny jnost needs wise and dsci-. 
^bredAanexicaaiiivdveiBent : • . - . 

U.S. oESdals now accepttbateai^. 
MaishdM^twte asideman uianedate,- 
iy»yi>iaradtiBnri ri«n is anecefeaiyelfr' 
meat of ai^ solution- So xsagnarantee 
of drizenaifo and ofeer 
to line's deprived. niuDC^ groiqtt. 

But bodi those tilings the Boioreia^ to 

be the pnx^ of the foice (fanns ton 
attolomaticfix. 

2mre is in tot only one drwnatic, 
cifoent case diait the costs of 

lettiz^ gni^ abstcactioas oUitertee hu- 
man values and reaBties mferiiicning . 
pdades that dfftmntoAm^fea'a tote • 
m the world: President Bill Qmloo and 
hia aides, as they grqnte with Z^ue, 
should pooto -triM thefr- grand ab- 
soactioos will leave bdund for future 
pdi^makos on questtots Bke.China, 
and NATO enlaigefloeoL 

The WashB^km'PdiL.. ' 


The Best Long-Term Investment for Europe and Japan? Babies 


H ong KONG — The eco- 
□onne problems of Europe 
andJapan have me dung incom- 
mon: age. It is not a subfect diat a 
generation Ixou^ up to wor- 
ship youth likfts to wile abouL 
Discussion of dcuQg anything 
about it is almost taboo. But ad- 
vanced iodustiial sociMies have 
a staifc chcHce: pronatal policies, 
immigratUxiOT slow de^ 

At the recent World Econom- 
ic Fonun in Davos. Switzer- 
land, tbme was much discussicn 
of aspects of the current eco- 
nomic malaise: sclerotic labor 
madrets, slow technological 
change, unwilliQgness to invest, 
consumer caution, public sectm 
debt and deficits. All are to be 
found to different degrees in 
Western Europe and Japan. But 
they are discussed mosdy as 
causes of tbe malaise rather iban 
as symptoms of a deeper prob- 
lem: a^g societies. 

bi Jspao. people save because 
they fear a pensionless fruure. 
but th^ are mcreasingly reluc- 
tant to take risks with new in- 
vestment. hi Europe, fear of un- 
employment and unwUUngness 
to change feed on eadi odier. 


^ nrilip Bowling 


Everywhere, even in die New 
W01I4 governments lode at an 
alsn^ iiiQize of rising social 
securiQr demands and frdling 
woddi^-age popntomis. 

But is anyone doing anything 
about it? Aging popdations are 
to some extent a itoirable dob- 
al phenomenon, resulting from 
l(Mi^ life eigiectandes and 
past declines in Urduates. But 
the extreme conditions feeing 
Japan and much of Europe must 
and can be addressed. 

Prcmatalist policies are so fer 
off the d^ d^ can't even 

be called “polhi^y iacor- 
lecL” Th^ are associated 
mainly widi extreme nationalist 
sentiments or old-feshioned 
Catholic crusades against fam- 
ily planning. It is scmidiow as- 
sumed that the state and society 
at laige riiould have no views at 
all on demographics, and any 
suggestion of a^licy is seen as 
an attack (HI individual limits — 
and especially those of women. 

Yet tbe West has for years 
pinsued tbe notion that jxipii- 
lation policies are good fix the 


Third Wodd, often linking aid to 
eftots to briog down birtfarates 
dnoud <Hie means or anctther. 
This has been lau^ble. Demo- 
gr^hictranritioa has been a ma- 
jor fector m inuxoving the lot of 
pe(^ in die uvelo[^ world. 
The ecxmomic successes of East 
and Southeast Asia showcase an 
effoa of population polides. In- 
deed, th^ have b^. so suc- 
cessto diat discussioQ has 
already b^un about a need to 
pdicy change before these 
areas, too, coimont die problems 
of la^ aging. (In some parts of 
Asia die {xobtems will be ex- 
acerbated by the preference for 
mde diildreiL is creating 

a massive sex imbalance.) 

In Jap^ where the problems 
are more immediate, tins subject 
is just begiiudng to creep into 
public consciousness de^te an 
association of pronatalism with 
Japan's impenalist It is 
dawning on Japan mid at cur- 
rent rates of totilfry and mar- 
riage age, .the peculation wfll. 
begin to shrink as is already 
die case in parts of Europe. A 


- homogeneous, ethnocentric Ja- 
pan would fi^ it almost im- 
possible to take die other route 
to demographic imixovement: 
large-scale inunigiatioiL 

Eurtipe is prmsably in the 
same poritioo. There are eaoo|h 
problems already between white 
popalatians and African and 
And) mumgztmts. Earopereiin- 
temai migratiODS, such as have 
swelled Germany's population, 
' are almost over, so frmire im- 
mipatioa if it htqpens at 
all, necessarily be roiokly of 
pecple from non-European ra- 
cial and religious backgrounds. 

It is the evident advantage o£ 
socieiies built on immi gration, 
such as to United States and 
Australia, that there is no need 
to change policy to offiwt low 
birthr^es. There may be debate 
about social prohle^ arisiog 
from multiedmic migration, but 
littie about tbe (xinciple. 

It is possible diat Europe 
and Japuiese birdsates willjpick 
up widiout encouragement nom 
to state. That may ali«idy be 
^happoiing in. Scatuhnavia. But 
fe^^m senne - countries In 
Enrope — ^ Gennany, Italy and 


Spain in particular ~ has fallen 
to levels-tfaat riiould be viewed' 
widi alarm by diose ouioeiDed 
about Etoq^'s long-term eco- 
nomic well-befog. 

In to k»^Tun k is doubtfo 
diat a Eunpe witfa-a very low 
biidsate can defend itself should 
diore thdng in areas with some 
of to world’s highest b i rl far aie s 
— Nexth Africa and to 
East — sedc living 

Rranatatistpcliaes would DOC . 
-necessarily h^- any result, .as - 
Ranee’s past effixts . 
shown. But governments hare Ji 
an oUigation to point out the 
economic consequences <rf low 
b irthrates , and to do their best — ' 
widiout treadiDg on individual 
freedoms — tt> encourage 
changes in social behavior. Low 
hi i ih ri uwK are mfimttfy more 
dangpous tediese societies dna ~ 
smeSang or. “mad cow'' .dis-. i 
case. . . i 

The best long-tenn invest- 
ment Europe and Japan can 
make now is not in OMSW tanods, 
dienie parks or electronic so- 
perhi^iways. desirable tfaou^ 
they bis. frc&ifrbabies. 

ItUenuaionalHeraidTribuiie. 


No Immimity: Foreign Economic Problems Could Hurt U.S. 


W ASHINGTON — Japan 
is in die midst of a widely 
reported financial crisis. The 
Tokyo Stock market is worth 
barely half its value of a rinrarip. 
ago. AstoJapanesestockmar- 
fells, so dore to capital base 
of Jape's shaky banks, whidi 
are major shareholders. 

The Japanese government 
can't make up its mkid whether 
to keep propping 19 the banks 
and the sto^ maikk, or to ex- 
pose tbe entire Japanese econ- 
omy to the txacing disi^lto of 
siq^y and demand. Iq to mean- 
til^ J^ianese corporations are 
undmgouig to same cf 
competitive shakeout dial hit to 
UniM States in to l^(k. 

In Europe, the poweibouse 
German economy now has more 


By Robert Knttner 


than 12 percent unen^oymaxt 
and sluggish economic ^owtfa. 
Slow growth in Germany pidls 
down to rest of to ContineoL 
Tbe United States, by com- 


parisoD, seems an island of dy- 
namism. Unemployment is 
well below 6 percent 
ductivity is rising smai^. And 
the stot^ market continues to 
reach new hri^ts. But tould 
we Americans wtxiy that to 
economic ills of to rest to 
world will contaminate us? 

The question divides three 
ways: the health of to “zeal" 
economy of goods and seivioi^ 
to health <n financial marirecs, 
and to purely - p^chologi- . 
cal factors that sometimes 


cause wild swings in markets. 

Seemingiy, we don't have 
mudi to worry about Criaqiared 
with Europe and Japan, to zeal 
economy of to United States is 
T gmarifaH yT ftsilipnt. ButthankS 
to to very ^balization that we 
keep celdxating, to rest of to 
wond is xnezeasm^y to market 
for American products. If dieir 
ecoDDmies felter, our best cus- 
tomer atoD buying. 

The U.S. financial matkeits: 
have been (» a roll for a decade. 
Despite globalization, Azner-- 
ica's depat^pce 00 foreign in- 
vestmeot is stiH relatively mod- 
est In to' short run. to benec 
to U.S. crmital ' markets lodr 
relative to. Europe and Japan, 


A Broken Mostar, a Shaky Peace 


B OSTON — Are to 
United States and its 
European allies serious about 
making the Dayton accords 
work? A violent jxovocation 
by Croats in to Bosnian city 
ca Mostar raises diat question 
in painful form. 

On Monday, to end of Ra- 
madan. 200 Muslim Bosnians 
crossed from East Mostar to 
the Croat-contzoUed western 
half of the city to visit a 
cemetery. A group of Qoats 
fired at them, kfllms one and 
wounding dozens. later to 
same day 30 of to few 
Muslim feznilies still living in 
West Mostar were expell^ 
Mostar is a crucial symbol 
ofto American and European 
commitment to the Bosnian 
FederatirxL It was divided and 
I^dly damaged b figihdng be- 
tween Cro^ and Muslims 
during to Bosnian war. Now. 
at American urging, to two 
parties have joined in the fed- 
ezation. The Western allies 
have spent mfllims on recon- 
struedon of Mostar, a^ tried 
over a year and more to pro- 
mote reconciliation and leuni- 
ficadon of to city. 

But tbe atiempt has 
foundered on an ugly reality. 
Criminal gangs eniMrively 
control Wesr Mrstar. Cir^ 
took pari in a city wide .elec- 
tion organized Ity to Euri> 
pean Union last June, but to 
warlrxds have kept to newly 
dreted city council from 


By Anlbony Lewis Uies return to West Mostar. 


meaningful functioning, and 
Irepcto city divided. 

The Cto^ who fired on to 
Muslims at to cemetezy ze- 
portedly included polioemezL 
It was evideady a calculated 
provocation by those w^ 
control West Mostar. Why 
would diey want to do that? 
When 1 tel^hon^ Bosnia to 
expHore dta qu^on, I soon 
realized bow naive h was. 

The Qoatian wadrxds m 
West Mostar committed sav- 
^e violaticxiS of human 
n^ts, and diey seized to 
property of expdled femilies. 
so to thought of reconcili- 
anon and freedom of move- 
ment in the city frightens 
diem. They fear having tegive 
up stolen property, and they 
fear revert^ That is why toy - 
use intimiriarion and te i T Of tO 
keep Mostar dirided. 

soldlera of to iritetnational 
Stabilization Fcxce are in Mo- 
star in considecatde numbers. 
But tbey avoid invedvement in 
to city's teosuxis,- and th^ 
did not intervene in to 
cemetery shooting. An inters 
national police force is also 
prreent in Mosiar, but it has 
limited aothority and' nmdest 
ambbuxis. It imderti^ vrith 
soldias of to StaU&ation 
Force, to try to peisurite to 
Croatian foxlas to let die 
newly expelled Muslim fern- 


Alter a day of negotiation, one 
family bad gone back. 

The real question, on to 
Mostar issue as 00 odiecs, is 
wfaedier to adminis- 

tration will carry out its re- 
sponsibility toward to Bo^- 
anFederatianifaatitcreated.lt 
is a questim of poBtical wQL 
hfostCroatsin Croatiapit^ . 
er are embarrassed by to bru- 
tal acts of tbe Mostar wadords. 
But to warloids have a hi ghly 
eSetrive lot^ in Zagreb, widi 
what seems to be great lever- 
age on President Ranjo TUd- 
jman and his gov ero matiL 
Thm is wfam to Atnerican 
role crxnes in. The adarhiis- 
tration should be putting pres- 
sure on Mr. ‘Du$aaan ' — re- 
lendess pressure — to remove 
to warkxds. Here is to 
diance for Secretary of Stale 
Madeleine Albright to brfog 
her vaunted toughness into 
pl^.Mr.Tudjmanhasnotonly 
allowed to Mbstarsiniation to 
fester. He has ignexed his 
DayuA obligation to to bi- 
teraadopal War Crimes 
Tribunal fty feiUim to arrest and 
hand over Dario Kotdic, an m- 
dieted, snqiect adio li^ in. 
Zagreb in an a part m ent owned 
by to Mmisby of Ddfoise. 

On to. ^und in Bosnia, 
Mostar is ciitictd. Unless 
riar is fixed, there can be no 
real Bosnian -Federaticm — 
asdnopeace. 

TheNouYoitTimes. 


the mote foreign mvestment we 
attract Withm liiiiife. dieir pain 
is our gain- (Hobal ccmfidence 
in to U.S. economy eiqilains 
why to dollar is so strong that 
our governrhent lately has been 
trying to “talk to dollar 
down” out cHf fear that it ^ 
become overvalued. 

... Qfcourse, a serious financial 
crash or recession, in either 
Eur^ or Jwan. would affect 
to h^th of me U.S. economy. 
The reasons are both real and 
psydmlogicaL 

Stock markets reflect both 
leal-worid assumptois about 

eCtXXXnic fimdaTnmfglg and 

czowdpsycholtmies. The “real*’ 
reason that to U^. stock market 
kreps going up is tto investors 
expect corptxate profits to keep 
gtowmL And hig^ profes jus- 
tify hig^ stock prices. 

But a zeoesrion in to zest of. 
to developed world would 
spread to to United States, and 
zedoce corporate - 
That, in turn, could signal that 
stock prices are overvalued — 
and to end of to long boll 
maikiBL 

And, although to “real" 
econoinies of Europe and Japan 
are certainly perfonning slug- 
gishly. 1 wotxy more about to 
. purely psychologic^ aspect. 6f 
global interdependence. Tte 
U.S. stock market has been 
tying gravity. At some point. 


to smart mcxiey wiU decide 
that it's time to c»sh isL 
Events in Japan, or Europe; 
wito not afiecring U.S. finan- 
cial mailrets directly, could ^ 
affect investor psydiolo^ — 
by triggering a seU-off. A raiir 
dom piece of bad news from 
overseas, even if not disastrous 
per se, could light the fuse. 

And a stock sell-off would be 
even ii3(xe serious if it coincided 
wife a recession. Dedinmgsiock 
prices crmiddeqieniecessionby 
dqxesring peqile’s willingoess 
to spesidt. because their invest- 

merds would suddenly have lost 
mudi of tfadr pqier vmue. 

■ In that sense, to globally Jk 
tion that we keep edebrating 
makes to United States a cap- 
tive of foidgn economies .to 
we dm't — and caii't^ — con- 
trol. Today, no economy is an 
island. T1te-U.S. stock mato 
luB beeo riding high on die 
{Bximire of globalizatioD — the 
linJrage to mllioiis of wmldwi^ 
oonsoznezs. But mere is a down- 
side of' globalizatitxi *hat we 
wQl snrdy discover in to next 
serious downturtL ' 

All bull tnaAwrg come to an 
end. If this bull market b <fif- 
fexeot from otiieis, h's coty be- 
cause it has risen so dizrity sod 
because it is moze-dq>eQdeot . 
than ever on global feclbcs to 
we can't cootzrd. 

Post Writers Grotp. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1897: Turkish Wradi 

CONSTANTINOMJE — The 
dedazatioo made by M. Dely- 
annis in to Gie^ ChamlMr 


to, however^' Gandhi and 
colleagues have decided not to 
pmw disobedience and ilfeg^I 
activities, and to warrants bsvB . 
been suspended. Meanwhile, k 


wim reference to the despaudz- is rep o rte d began s 

of die Gredk fleet to Cretan wa- five days' fest as a pehazxte fr^ 
has aroused to greatest in- to r^Hri Chauia (Ui^ 
dtgnation in Thzidrit Govern- 'Provinces) tzsm^v whe" If 


ment circles. Tewfik Pasha native police were massacred 
called at to vteious Embassies by a m& of 2,000 extremists, 
to request to intervention of 

to Powers to induce Gre^ to lOii?. i 

withdraw her ships. He pointed L947: XogoslOTUaim 

out that no indoendent State LONDON — Soviet Russia 
woi^ tolo^ for an instant backedYugoslavia'sclaimftfa 
aica i acti on on to p^ of a large slice of to Austrian 
Govemtn^ with w6i<* they PirovinceofCarinlbiaasthefour 

were nominally at peace. powers* Foreign Mmistets* 

dqntos tiy to write a draft ' 
1922: Gandhi’s Fast ' peacetreatyforAustriaJPeodar 
^ . . Gusev, of.Russia, argued that 

LW4DON — Tne news that die s ho uld consider 

orders were issued foe the attest Yu^^via’sxoletndiewar.Ke 
(rf Gandhi, to notorious Indian stressed that Yugoslavia had 
aghaior. and his friends was dis- lost 10 per cent of her pop' 
in a debate on the present Ttlarffw] and nnops 

poation of attacks in India, had participated in to -Gts- 


tince diat decisioD was- come man iimipario n of die courUty* 


Govennnent widi whidi 
were nominally atpeace^ 


1922: Gandhi’s Fast 

L^roON — The nem that 
orders wm issued foe to aoest 
(rf Gandhi, to noRxious Indian 
aghaior. his frioids was dis- 









Town Left in Serbs’ Control 

Final Decision on Brcko’s Fate Delayed a Year 


By Daniel Williams 

WaMngttm Post Servue 


ROME — An American 
aibitrator said Friday th»t he 
had decided to leave the city 
of Btcho in the haoKis of Seite 

for another year and then 
make a jin^ment on who will 
finally control the to^ one 
of the key disputed jnizes of 
the war in Bosnia-Herzego- 
vina. An ^'international su- 
pervisor” with police powers 
will oversee the contested 
area in the meantinie. 

After months negoti- 
ations, the mediator, Roberts 
Owen, said die year was 
needed to calm tensions that 
cenmr on Brcko and to create 
a spirit of coope^oo amo ng 
the hostile factions conrnet- 
in^oriL 

temporary solurion 
seemed to please no oneL 

No r^iresentatives from 
die Muslim-led Bosnian sov- 
emmmt, its assocuted 
Musl im-Croaf /edeiadon or 
from the separatist Se^an 
leadership attended tbe an- 


noimoemeoi of the decisiai, 
which included provisions ftff 
return of refugees to 
Brcko and the opadag 
roads^ through the town to 
Muslim ffld Croatian travel- 
ers. 

"‘Each side asked that it be 
declared tbe wanner,” Mr. 
Owen said. ”No winner is 
being annouDced today." 

1m issue of who codaoIs 
the chy embodies almost all 
the unresolved elemrats left 
hanging 1^ the 1995 Dayton 
peace accord that ended Bos- 
nia's three-andra-balf-year. 
edmic wari Is Bosnia in fact 
me countiy, as ^lecified in 
the accord, or is h effectively 
two. one controlled ^ the 
Muslim-Croat fedoation, die 
other by the Serbs? Are 
refugees _ who were, driven 
from their homes during t^ ■ 
Serbian terror eampaaign of 
"ethnic cteanoi^" going to 
be allowed to return home, or 
is a 


Brcko is a nondescript dcy 
in north Bosnia on tbe baiiks 


of the Sava River diat has 
geogt^)^ vahie to both the 
Bosnians and Serbs. Serbian 
soidios and pafamilit^ 
hepchmen conquered die ciiy 
in 1992, etroe^ the entire 
Mudim and Ooatian piqm- 
lation and, of sevezal dx>n- 
sand- prisoners taken in the 
process; k^ed ^ to 3,000 
.nnarmed cqitives outrighL 

The occupation prmdded 
the' Seriis with a strategic link 
between two larger lunqis of 
land far m mg the basis the 

Seri> RmbUc, one to the west 
centerea on the dty of Banja 
Lukaand a str^to die east dtt 
snuggles 10 Sobia. 

Serinan negotiators claim 
that surrender of die city 
would a basis of 

the Dayton talks: |m>visioD 
fa- the Serb Repubbc to con- 
trol 49 percent of JSosnia. 

Mortoyer, die Serbs have 
zehiforced dieb demograidtic 
hold bn tbe dty. audia- 
ities moved diousahds of Serb 
refiigea into the d^ to live 
along^de Serii leadeals who 
lived there before the war. 


U.S. soldiers patrolling the village of Brod» near Brcko. The 
Serbian^ield area is one of the most hotly disputed in Bosnia. 


Bat 




BRIDES: ‘UnUberiUed’ Bussian Woman Desperately Seeking ‘Healthy* American Man 


Continued ftrom Pi^e 1 

only about tbemseives. These Amer- 
icans don’t smoke a drink. They really 
seem to want to settle down and tdce care 
of their families.” 

Ever since Communism collapsed, 
tens of thousands of women in Rossia, 
Ukraine and other former Soviet tepub- 
Ucs have signed up uath matrimonial 
agentMs and mail-order-bride compa- 
nies in the hope of finding a I^ince 
Channing in the WesL 
“The Lonely Hearts Club.” which 
went on die air m November, is very 
popular. It videooqies five-minute inter- 
views with eligil^ bachelors in tbe 
United State and broadcasts them in Rus- 
sia on a gtatjo " that reaches Ukraine onH 
odier p^ of die former Soviet Uniat 
But it is only die latest technological 
tool in the thriving and increasingly so- 
phisticated business of anaogmg intro- 
ductions between American men and 
Russian women. It is a bosiness often 
ftau^t with heartbreak and som^iines 
outright fraud. 

Over the last five years, sens of thou- 
sands of American men unable to find 


their ideal mates at home have r esorted 

to intPjrnarimifll mafrimnn igl 
There aremore than 40 ZD Moscow alone 
anri hundreds in die United These 
agencies use catalogues, romance tours, 
CD-ROMs and even die Intieniet (elec- 
tronic co n espoodents are known as '*e- 
mail-orderbndes”) to trawl the pools of 
available women ovoseas. 

The modem man-ader-bade busi- 
ness, which took aS in die 1970s in an 
apparent reaction to the feminist move- 
ment in the West, first Uossomed in 
Southeast Atia, but Russia and Ukrame 
now dominate die trade. 

Taman Schoooya, diiecior of one 
Moscow matrimonial agency. Affiance, 
said, ''TheAzueriqmshare&u^mR^ 
sia because Russiffi women have a Euro- 
pean &ce but die patience of an Asian.” 

She may be right American clients, 
sriio risk ^ousands of dollars in their 
quest say Russian women lode like 
Americans but are far more tnditiaial 
and mate femuune (read: not feminists). 

Tfi tiim, Hinwiiin wnman hurist Ameri can 

men arc more coDsidereie, less {Htme to 
drunirenness and more ainbiaoas (read: 
good providers). 


These are matches made of co-dqieDd- 
eot cultural stereotypes as much as love. 

Last mooth, O.G. Stewart 56, of 
PikevSle. Tennessee, a senia buyer fa 
Excel Systems, a car-parts manufec- 
turer, was the only man at a table filled 
with yoong women at a mixer at the 
Ukrmie Hotel m Moscow. He and nine 
other men had'eaefa paid $4,000 faa 10- 
day packaM tour of Russia and Ukraine 
organized Scanna International, oie 
of tbe lafgest matrimonial agencies, with 
8,000 cliCTts. 

' T hate to say dns, Ixit 1 like tbe outlod: 
diat diey have over here bette,” 
Stewart said. "They are interested in cul- 
ture and tra^ois. They're not as — how 
can Isay diis? — most Amakan women 
are self-oeotered, they're into ego.” 

Those sentiments are echoed by al- 
most all the men interviewed on "The 
Lately Hearts Qub.” And to unrfer- 
score the pane the New Jersey-based 
producer of die show, Gregoi Anti- 
nuMiy, a Russian dmi^. intersects the 
bachdors’ autobiographical tales witii 
qnick on-the-sixeet interviews vritii as- 
sertive American career woneiL 
. Those 10-second testimonials to wo- 


men's liberation are meant to reassure 
Russian viewers that they have 
American women cannot offer. 

Hve years after it began, tile marriage 
business is almost entirely unregulated, 
and the industry teems with stories of 
scams fly-by-ni^t agencies, pros- 
titution rings masking as dating services 
and fraudulent claims by prospective 
brides and grooms alike. Even rela- 
tionships that actually lead to marriage 
often end in tears and divorce. 

‘ ‘These women go over, and they run 
inU) so many proNems,” Mrs. Schon- 
ova said. "You can imagine some al- 
coholic in Colorado, and this woman 
comes and he has to teach ha how to 
turn on die car, to start the washing 
machine, to use cr^t cards.” She ad- 
ded. "Of course this drives him crazy, 
and he starts to hit ha.” 

And several agency workeis in Mos- 
cow admit chat the chances of a suc- 
cessful match are Him. "Ninety percent 
of the male clients we get are r^ losers; 
I mean they had serious mental or phys- 
ical problems,” said Nina Vasillyeva. 
who recently closed her matrimonial 
agency, Russian Romance. 


JAE4N: Jfhshington Doubts Tokyo, Fearful of Cost and Chirut, Will Join Missile Defense 


l«l 11 lift 1? 


Ceotinued frtMD 1 

decisioa.aiqd vre.capnot predict pr pr^., 
judge any or ci^usioo,'"^ he 
smd. 

But after the last me^ng in T<d^ 
last weekend, serua American officiate 
have concluded (hat Tokyo is loaiply not 
ready to pursue a project tint could cost 
than as much as $10 billion ayear—tiie 
equivalent of more than one-foiirtii of 
Japan’s current ^5 Inilioo defense 
budget — for four a five years. They 
said iHoject has a few pcrweiful sup- 
pcDters within Japan’s nwitary estab- 
iishinent, but the Foreign Afimstiy is 
largely oppMed and tbe nation’s t<^ 
economic officials are firm r^iponeats. 

* ’Japan is fi nancial ly coistrmned, and 
they don’t have tbe strategic c<m- 
sensus,” said a senia Octagon official 
involved in making J^ian policy. The 
c^ficial, who on condition he not 
be naiD^ ^ded: "Japan is most 
nervous about China, even thou^ they, 
talk about North Korea. A decision to 
build this would be perceived by the 
Chinese lo be a blatant act. So, I'm sure 
Japan will not go down this line.” 

A second administration official, who 
not(^ that China has repeated]^ vrarn^ 
Japan in recent academic and diplomatic 
conferences that it would view the de- 
ployment of an anti-misrile systra as a 
hostile act, added, ’•Tto is not 
something that will h^ipra anytime 
soon.” 

The Chinese have argued that a J^ 
anese anti-missile program woul^^w- 
detnune regional arms control effc^ 
and B^jing's nuclear deterrent, jwrtic- 
ularlv aga«n<T U.S. military bases in the 
region. 


Given the strongly pacifist s train that 
runs through tbe Japanese electorate, 
.Anrerysb offidal^aaid Prime AGnistBr 
RyiitiDfo Hfuu^oto and other members 
a the pdUtied etite cannot be eicpec^ 
to commit dieniselves to any aoti-mis- 
defease larepaim witiKia a fho^ 
debate m tte. Japaoese Diet^ die Far- 
liainenL And tiiere te DO sign, tiiey smd, 
tiiat the Diet will take up the issue any 
timesoon. 

The PentagoQ has proposed at least 
four different anti-mteile d^eose 
tioos for deplo^mentby 2004, induffing 
enfaanoed PaAiot surface-to-air misales 
desigtied to infiercepc low-altitude mis- 
siles and THAAD anti-ballistic systems 
for bigb'dfihide intercqitions. U.S. of- 
ficials have also discussed the pos^ 
ili^ of diai^ widi Jqian eariy-waniing 


data dxained ftom satelliies ihm are 
DOW b^g develt^ied to derect infrared 
radiation at tim time of a launching. 

Jqnn allocated $2.7 miffion to its 19^ 
bud^ to study bualffing an anii-nilsrik 
d^^ system. 20 times what Tokyo 
spent the year before on the projecL 

"Odt ixnerest is that we would like to 
see American troops in Japan protected 
fion ballistic-mi^e attacks,** said 
Joseph Nye, a fonrwr a^istant secretary 
of dnense who is dean at Harvard Uni- 
versity’s Kennedy Sdiool of Govem- 
ment. "But Japan is very sensitive to the 
political repocussions in China and 
North Korea.” 

But many American defense experts 
still believe tiiat Japan mil eventually 
join in the project, but perhaps nm fa 
anodia five years a more. 


Despite the setback. Cliniai admin- 
istratioa offrcials say they are committed 
to build OT upgrade regiDnal anti-missile 
defense systems to protect American 
tro^ stationed in poteiially hazardous 
regions, including Saudi Arabia. Kuwait 
and South Korea. The adnunistration’s 
ooposed SQ65 billion defense bud^ 
for 1998 calls for a 3 percent cut in 
spending from the 1997 budget, but it 
3^ 5320 mtUiOD for anti-mis^ de- 
fease systems. 

"The goal is to develop, procure and 
deploy systems that can protect fbrward- 
deploj^ U.S. forces, as well as allied 
and friendly nations from iheata-raage 
ballistic mtesUes.' ’ Secretary of Defense 
William Cohen said this past week while 
tesiitying on the budget before two con- 
gressional committees. 


•DIANA: Princess THnning die Royal Public Relations Game 


Contiaued from 1 

than that otba forma royal — Sarah 
Ferguson, ferina vdfe erf tiie queen’s 
second sc^ Piince Andrew. Ibe news 
about the Dudiess <rf Yak has been 
excluriyely about ha frantic efforts n> 
pay off a s tronomical debts. She has sold 
her name, ha bc^ ha weight problem 
her presence. She Rcei^ was {tie- 
tured at life Opera Ball in Vieana, faa 
attendance purctrased to $40,000 by a 
wealffiy opera patron. 

IMana’a televised interview in 199S in 
which she. like Charles before ha, con- 
fessed to aduhi^, was a mixed pa- 
tomance. Polls, at the time 
tiiat peo^ who had {ueviously 


most of die blame for die marital breakup 
on Chales were coining to feel that sh& 
too, bore considerable reqxmtilnljty. 

Yet in die January 1996 MORI poU. 
tiie came out well compared with the 
.Dochess of York and ftince Charles 
when adted which member of tbe royal 
family "has done die most damage” to 
its T^nitatioiL Those surveyed ranked 
die duchess first (40 peiorat), Charles 
second (34 percent), and Diana thini (1 J 
percent). 

Tbe Angola trip produced a telling 
cooffict widi some m the government, 
since ba p^tioi in feva of a total ban 
on land mines deviated from official 
policy, which favors liidts but not a ban. 
A junia defense minista. speaking an- 


ZAIRE): Threat From Rebels Is Latest Calamityfor Kisangemi 


Continued ftrom Page 1 

northeasMin end of a naviga^ siretdi 
of the Congo that runs all die ^y to 
Kinshasa,, the capital. It flourw^ to 
the many Belgians who prosp^ ^ 
ing a boom in coffee, cotton and rubpa 
prodoedon late in the ^ 

such cwnmodiiies still fetched hi^ 

^To hear accounts of ^ series of^I- 
lapses. booms and uprisings seen here 
since is almost dizzying. 

At the start^ independence, Kaatg 

Province's effort to secede nan ^ 
couniiy.- ihCT known as the Congo, 
caused niMy Belgians to flee. • 

In 1961 the country's first jmnte nun- 
ista, Patrice Lumumba, was slam, ws 
.strong ties with this city 
during his days as one of 3.50 « 

the central post oETice. When his mifr 

isieis tried to set up a 
= • exile here, more foreigners 


Sese $^6; sdzed foreignsiwoed plant- 
atioiis, factories and businesses. 

Still, even if many foeigners left, , 
others wandered back. As well as 
gianft, these were Greeks, Irsdians and, 
Jately.Lrfianese-rpftCWtiehi^gaftaa 
piece of Zaire's natiiiaf wealth. - 

Marshal Mobutu’s aqiropr ia tions 
were to from the last Uow that Kisan- . 
gani has tot. Like neariy .evety otiia 
riutjoc city m tiie country. It was itilteged 
in 1991 and 1993 by rampaging soldiers 
of an ill-paicL demoralized army. 

The same thing very neatly bqipened . 
in November, at to outset of to' 
cuirent rebellion. 

Zairian soltors fleeing to wa zone 
in stolen trucks are said to h^e sacked 
eveiy town and Qumost between 
and KisanganL.W^ t^.reacbed tills 
city,' they tried to it, but the 

pppnlaticm resisto inphdied batde& 

. '^TbegovenimeDtiushedinembeROf 
to Presl^tial Guard here to 'restore 
control,'* stud a Zairian resident, ”and 
before we knew it to giraid was Oyingio 
loot us, too. Then th^ sent in troops 


intemiti 

Iii..i964, in to sorcalted Si^ 

Mlicm. ^“a s^ial rapid deripymem fopoe, 

tomonto.untnClA-p«dCuom vvhich went from hoto to hoto dis- 

and Belgian mercenanesjoiriedBeigM wnicii 

paratroopeni to restore . 

iTOl. AU& seven Europeans were air- ^ 

lifti^aiioftocity. . . 

There -were new troubtem 1966^ 

1967. And in a ntoonalisl 

gambit that “ 

«h» ,«un?Tv’s dictator,. Moboiu 


aiming to cowboys.;” 

But many soltfios got Away, hipde- 
ing steamers arid barges tiiat tii^ loaded 
up wiUitoirbootyand tookto Kioidiasa, 
a lOHd^tripdownriva. 

Most of to roldiera were ihteicepto 
by othal^'rian femes. Bor Kisangani's 


lifeUopd, to riva trade, dried up as a 
result of to mayhem. Boat owners do 
not allow tiieir vessels to come hoe 
imymore. 

Still, Kisangani has always found 
somediiag new to lean on, be it uranium, 
gold or trade in trofMcal wood. 
Nowadays h is dtamonds. 

Beyond a few canned-goods stem, 
to only businesses in sight these days 
are to L^anere diamond buyecs. 7^ 
have floclttd here in recent years, setting 
up gaudy stor^ronts with names like 
"h&ta ^sh” and "Rambo Dia- 
mond,” and buying w to precious 
stones tiiat tiiousands or young nwn <tig 
for m to generous soil of the region. 

"The mamwKis only became big in 
1993,” said Jenry Seletike, 57, a Roman 
Catholic lay woka from Kansas who 
biu lii^hm for 14years. ''It used lobe 
that you could lit^ly buy anything in 
ICtoganL No w to oitiy tinrig for sale is 
ttiamoods, and you can't even get young 
people to feim anyiDpie.” 

£a a poblic square in tbe cenra 
(rf town, the paint is chipping from a 
stele thu bras a slogan of Marshal 
Mobutu's would-be revolution: "One 
people. One, country. One rraiion. One 
chiof.” 

Zaire’s leader- of 31 years, who has 
cancer and is tougbi to be dying. c»ce 
soi;^iito forge a pand nation out of his 
divided country oie to be respected 
near and far. 


oaymously to to press, called ha a 
"loose canooh.'’ 

Prime Minista John Major figured 
out quickly that the loose cannon was 
not Diana but the minista. He quickly 
repudiated to man, saying be found no 
problem with anytii^g she had said. 

"h backfired on to govenimeni and 
reflected badly on to British establish- 
zneni.” said Nigel Evans, editor of Lon- 
doa magazine and former editor of 
Majesty, a glossy devoted entirely to to 
roy^. Indeed, he said, it contributed to 
tiie already existing feeling thai she is 
bratiog to establishment at its own 
game. 

"She's what people would like the 
monarchy to be.’ 


35 Are Feared Dead 
In Lake Victoria 

Reuters 

NAIROBI — Up to 35 people 
were feared drowned Friday afta a 
bo^ powered by an outboard moror 
capsteed in l^e Victoria, leaving 
survtvois clinging to hunks cn 
wood, cans and baskets of fish. 

A police spokesman. Peta Ki- 
manim, said that only four bodies 
had be^ recovered and that it was 
unclear how many passengers woe 
on board. Tbe police suspected the 
b^t had been overloaded and Ken- 
yan newsf»pers put to numba of 
dead at sl»ut 35. 

The boat was loaded with bags of 
maize and sugar, Mr. Kimanthi 
said. 

He said it was used as a 
senger vessel and had left its first 
port on to lake on Wednesday with 
d5 passengers. But die police sus- 
pected to vessel had incked up 
otor passengcra at three towns be- 
fore sinking. 

The Kenya Times said the dead 
included the boat's owner and three 
m e mb e rs of his ftimily, and quoted 
a port official at Homa Bay as say- 
ing to boat picked up more people 
and moe emgo^at its second stop. 

Officiate appealed to to Kenyan 
Navy io help in rescue work. 


American Airlines Cuts 
Flights as Strike Looms 

European Runs Are Limited to Britain 


By Mitchell Martin 

lefemrfteita / f /erald rribune 

NEW YORK — American Airlines 
b^an winding down its operations on 
Friday as a strike by its lo^-haol 
jHlots loomed. 

With to 9300 pilots threatening to 
walk away from their planes wa 
midnight, American canceled its 
flights to Europe, excem for those 
going to Heathrow and Gatwick air- 
ports, a spokeswoman in Loidon said. 
Overal 1, 240 international and a dozoi 
domestic flights were leported to have 
been canceled. 

For reasMis including insurance and 
parking space, to spokeswonan ad- 
ded. AmOTcan is withdrawing its 
danes from anp(^ outside to United 
rates and Britain. If the strike goes 
ahead, the last flights to Einope will 
arrive in London on Saaaday morn- 
ing. American, she said, would try to 
place passengers on other carriers. 

About 200.000 passengers a day on 
2300 flights would be tDfected by a 
strike. -American and its regfonal car- 
rier, American Hs^e. serve 233 cities 
in 47 countries. 

Besides flying its 151 routes in to 
United States, where it accounts for 
about a fifth of the air traffic. Ama- 
ican flies to 12 European cities, 5 in 
Canada and 64 in to Caribbean and 
to rest of to Americas. It also 
provides service to Tokyo from D allas 
and Seattle. 

The main issue in the dispute is to 
use of low-paid {nlots to fly new jets 
being pmehased by Amencan Ea^le 
for re^onal sovke in to Unhed 
Slates. American Airlines {tilots want 
to fly to jets, which are to replace 
slowa and noitier turbo-prop planes. 
The airline contends that all of its do- 
mestic rivals run low-cost regioial air- 
lines and that it does not make eco- 
nomic sense to use hi^y paid 
American Airlines pilots on the short 
route. 

The airline and pilots also have not 
agreed on wages, with American re- 
ported to have offered a 6 percent raise 
ova four years. The pilots are asking 
for 1 1 percent. 

President BUI Clinton can intervene 


in die dispi;^ but tty Riday afternoon 
he had not infficated that hie would do 
so. 

Richard Gfitta, a business professor 
at University of FOtland in Oregon 
and a specialist on the airline industry, 
said whUe to aveta^ sal^ of Ama- 
ican Airlines pilots was $126,000, 
their counterpans at Am^can Eagle 
earned about $35,000. labor 

costs accounting for about a third of 
airiine operating expenses, he said it 
was unlikely that an agreement could 
be forged that would ^ow American 
to use Its Icmg-haul j^ras od to Eagle 
routes. 

The American Airlines pilots have 
offered to fly American Eagle jet 
flights for less pay than toy receive 
for long-haul flights, but Mr. Gritta 
sad their offa has rux been revealed 
and was unlikely to be low enough to 
be economical for the coria. 

Although negotiations unda a fed- 
eral mediator were being held Friday, 
a spokesman for the pilots said he was 
"not optimistic” that a strike could be 
averted. A mediator said that he was 
"somewhat more encouraged” afta 
an all-night bar^ining session but 
that "major problems’^ remained to 
be resolved. 

A strike would be costly for the 
airiine. Standard & Poor’s Corp. es- 
timated h would cost AMR Corp.. to 
parent of Che airline, $15 million of net 
profit a day. 

The company earned $1.02 bUlion 
last yea, or roughly $2.8 million a 
day, but Mr. Gritta noted that it had 
been unprofitable from 2990 to 1993. 
Earnings in 1994 and 1995 were $228 
million and $167 nulUon. respect- 
ively. 

The pilots also have a lot a stake. 
They are among to most highly paid 
in to industry and American has 
guaranteed that they will not lose jobs 
to American Eagle pilots. 

Investors in AMR stock did not 
panic. Ito company’s shares were 
quoted at $8130 in afternoon trading, 
down $1,625 from to close on 
Thursday. 

The stock closed as high as $93 in 
Deoemba. but was below $80 earlier 
this we^ 


Mandela Faees Regional Instability 

The Associated Press 

JOHANNESBURG — President Nelson Mandela's hopes for new le^onal 
stability in southern Africa have been rocked by a nationwide strike in Swadand 
and a police mutiny in Lesotho. 

Mr. Mandela traveled to Mozambique on Friday to discuss to problems wife 
President Joaquim Chissaoo. The meeting followed a one-day swing lo Zimbabwe 
and Botswana for tailts with Presidents Robert Mugabe and Ketumile Masire on fee 
tensions in southern Africa and to Great Lakes crisis in central Africa. 

As tbe new bead of the 1 2-nation SouiheniAfidlcanDevelppaientCoinmuiuty, Mr. 
Mandela and South Africa have assumed a leadership role in efforts to creae a strong 
remonal body lo coordinate trade and developmcmt whDe tadkling conflicts. 

The police mutiny in Lesotho started wife eight officos who refused to turn 
themselves in for questioning in to killings of three otba policemen in 1995. The 
eight took over the police station in Maseru, to cental, last week and have rallied 
support from otor policemen to shut down police stations throughout fee country. 

In Swaziland. l^x>r and oj^sitioo groups want poIiticaJ ctogia feat would 
restore the constimtion and legalize political parties. The strike, which began last 
week, is the third in two years and has shut down mudi of to v^ sugar indnstry. 


RAPE: Children Are Prey in South Africa 


Continued from Page 1 

caused when South Africa made to 
transition from white-minority rule to 
democracy in 1994. 

"I would go so fa as to say there's a 
war against women and child^. a low- 
intensity war.” said Marilyn DonaJd- 
son, a clinical ps>'chologist in to Jo- 
hannesburg area who counsels rape vic- 
tims and some rapists. 

"It just seems like children are bea- 
ing the brum of to insecurity of our 
transition.” she said. 

Social workers attribute the rape 
crisis to social and family uphrav^ 
dating at least to the era of aparfeeid and 
intensified by fee changes that took 
place when apartheid ended in 1994. 

Rape, as well as most other crimes, 
also is fueled by criminals' belief that 
law enforcement cannot — or will not — 
do much to stop them, social scientists 
say. 

In the case of Anna Mabena's 12- 
yea-old daughter, who said she was 
raped repeai^y by a clagyman. the 
family became aware of ha plight only 
because of to spare' change fee man 
gave her. 

TTiey quiz^d her about where she got 
the cc^, and fee story of her abuse 
poured forth. 

"Grannies” from to neighborhood 
confirmed the rape wife a jfeysical ex- 
amination, and a physician did the same. 
But the doctor's documentation was lost 
from to court file, Mrs. Mabena said, 
and the case against the clergyman was 
thrown ouL 

Combating the problem will prove 
most difficult in places like Oiwge 
Farm, an impoverished community of 
rou^y 300A00 prapie. 

"nie lesidenLs live mostly in ova- 
crowded shacks along dirt roads, where 
beautiful flower beds and tiny but well- 
tended lawns suggest a cormnunity 
straining to nurture normalcy amid 
chaos. 

Here as elsewhere, boweva. women 
and children are flooding medical and 
trauma clinics with chilling reports of 
rape. 

Police have proved unable to cope 
with to avalanche of cases; child pr^ 
teciion off ^cers just set up shop here this 
month. The two nurses who serve 55 
schools in to Orange Farm region are 
burdened with the heart-rending evi- 
dence of abu.«. such as children soiling 
themselves in clas.s. Some motors have 
become so KU.spicious and frightened 
that they will not leave their men alone 
with the children at all. 

ifanyrhing positive has emerged from 


the rape epidemic, it is that women are 
no lODga silent: They are gong to the 
police, to clinics, to to streets, to to 
news media. 

In Orange Farm, foreign financing 
enabled residents to open a shelta for 

X victims in Decemba. But a montii 
it opeoed, a man raped a 19-yea- 
old woman at to shelter while an ac- 
complice tried to rape the 14-yea-old 
dau^cer of the shelta mamma. The 
rapist was cb^ed but released on bail. 

Dlen Mooi, tbe managa, generally 
counsels against vigilante violence. A 
pensioner turned child welfare advo- 
cate. Mrs. Mooi, 6S, believes it is wrong 
to burn or beat people to death, as 
baf^)ened in a squatta camp recently to 
a man who raj^ a toddla. But, she 
says, Mrs. Mooi is growing fed up wife 
the prevalence of rape and tbe leniency 
wife which rapists are treated. 

"If to women would kiU ^>out two 
or three perpetrators, the government 
will wake up and say ’O.K., no bail for 
rapists,' "stesaid 
What South Africa is experiencing, 
social scientists say, are to effects of 
profound social upiiraval, combined 
wife deep poverty, which left men feel- 
ing fru^rated and socially impotenc, 
driven to &id outlets for to exercise of 
power. 

WTO: 

Phone Pact on Line 

Continued from Page 1 

vice and international communications 
into and out of to country. 

In a bid to assuage the United States, 
diplomats said, Jtq>an has offered to let 
foreign^ own up to 100 percent of any 
companies fomied to compete in its 
telecommunications market 
Mexico is said to be balking a lento 
f(»eign companies own more than W 
percent of any domestic communications 
company. The United Stoes, dqtiomats 
s^, 1 $ pushing it to increase fee limit on 
foreign ownei^p to a least 49 percent 
Privately, many analysts ace betting 
that to countries unll agree on an accord. 
Unda that dKoiy. the United States has 
passed the point of no return because the 
negraiaiions have already produced fa 
greater oannutments than had ben 
achieved when talks broke down in 
April. To veto a deal, iboe officiate said, 
would expose to Waslungton to intense 
criticism as to tone obstacle tou^ an 
important move in favor of free trade. 





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TuiTgUNATinNAl. HERALD TMBUIVE, S^TOKPiOf-SIiTmMt, FESBXIAKX I9W 



ART 


international hera ld tribune 

SATURDAY-SUNDAY, FEBRUARY 15-16, 1997 
PAGES 


The Perils of ‘Exporting’ Art 

Museum Policies and Bad Laws Often at Fault 


Imemiiioiul Herald Tribune 

L ondon — Seldotn has 
so much noise been made 
about an outrage known 
for so long and accepted 
with such a light heart by those 
most concerned — that passion 
and greed in the collecting and the 
dealing world can lead to uneth- 
ical actions or much worse, to 
untold destruction. 

Unfortunately the irtcident that 
focused attention on the cavalier 
ways that the art world can Cnd to 


SOURENMEUKIAN 


suit itself, i.e. the now acknow- 
ledged export of a painting Grom 
Italy to Britain in breach of Italian 
export laws, helps in equal mea- 
sure to confuse the issues at stake. 

The Arst one concerns the paint- 
ings and objels d'art created in the 
past few centuries that certain 
Western European countries are 
aiuuous to keep within their bor- 
ders. 

Italy, for one. will not allow 
anything older than SO years of 
age to leave its borders. It was in 
the news last week when it was stated in 
the British media that an 18di-cenniry 
portrait by the Venetian artist Giuseppe 
Nogari b^ght in Naples by the English 
writer Peter Watson was taken to So- 
theby's office in Milan and swiftly dis- 
patched on the hush hush to London. 
There it surfaced in the Old Masters sale 
held on July 3, l996.Sotheby'sestiaiate 
.stood at £7, (XX) to £10.000 plus the 15 
percent premium. Watson’s idea was to 
expose what he sees as a systematic 
operation .set up by Sotheby's Milan 
agents to facilitate the illicitexport of art 
for sale to London. He bought the por- 
trait back and returned it to It^y to avoid 
abetting what he set out to expose. 

To say that the bland portrait of an old 
woman holding a bowl of soup deeply 
stined the attendance would be exag- 
gerated. Nogari's woik is highly for- 

f enable. It took George Corded <me of 
otheby's Old Master painting experts, 
one minute to knock it down to the 
reporter’s colleague, who had posed as 
the consigner, at the low estimate, 
bringing ^ price up to £8,0S0. Ap- 
parently. the reporter who had con- 
ceived this sting operation was just 
about the only one to take any notice of 
thejMitmit 

That does not make the breaking of 
Italian law any more tolerable in prin- 
ciple. While not illegal in Britain, ibis 
sheds a crude light on auction house 
procedures. The unfortunate con- 
sequence. however, is that the sting op- 
eration draws attentira to inad- 
equacy of such a law. tf aimed at 
duectmg art toward Italian museums, it 
is ineffective. 

Italian museums are bursting with 
works of art of which thousands are 
kept in storage when museums, or parts 
of them, are closed, because tixere is not 
enough cash to pay the required number 
of guards. Nor is Italy alone in that 
predicament. There is just as much art 



The Nogari painting (detail). 


that is inaccessible to the public in 
French museums, for similar reasons — 
not enough er^bition space, not 
enough money for elemental conser- 
vation. 

Would it be a cultural tragedy for 
Italy to lose forever the opportunity of 
having one more picture stashed m a 
storeroom, face against the wall? If, on 
the other band, the law was intended to 
encourage private coonoisseurship by 
keeping a greater number of works 
witiw Italian borders, which would be a 
valid point, it is just as widely off the 
mark. Italy, wrtii its intense love of art, 
would be a leading counby of collectors 
if those who own anything were not so 
keert above alL to conceal it from die 
tax collector's eye. Ihe conflictual re- 
lationship that exists between art hold- 
ers and offidaidmn is arguably the 
biggest single factor behind the dlegal 
expert of art out of Italy. 

m France die simoon, which is not 
good, looks to get a \<x worse. There is 
cuirendy talk of a bill to be submitted to 
the National Assembly whereby the 
French museums authority, which has 
seen its purchase grants drastically re- 
duced, would be allowed to postpone 
UKiefinitely the exp^ of wot^ of art 
deemed of national interest but beyond 
its financial reach. 

The day that law is unplememed, the 
French ^1 indulge more than ever in 
the favcHite Gallk sprat, which is to rind 
a way of circumventing laws deemed 
offensive and inconvenienL Dealers, 
who are on the \^ole better placed than 
civil servants to assess wh^ leaves a 
country and how good it is. concur that 
France’s ait losses have been enormous 
in the last four decades, even though the 
laws were draconian. 

It would seem hi^ time for art-rich 
Western European countries to face real- 
ity. If tiiey are r^y serious about keep- 
ing dieir art within their borders, the only 


way is to give a lot. more money to 
their museums and to allow great- 
er leeway to their coflecting com- 
munities. Restrictive laws may 
pUy well to a nationalist audience 
but th^ just do' not wrak in die 
increasingly intefoadonal world. ' 

A secraid and more damaging 
eknieot of confusion that the stii^ 
opeimirai and the ^ubtici^ that it 
received generated m die minds of 
the public concerns the illicit an- 
tiquities tra£Rc. Hints at an organ- 
ize effort to encraira^ the 
products of this traffic to be 
channeled out of India into die 
Soth^’s pipeline were dropped 
almost in me same bieadi as the 
condemnation of the unlawful ex- 
port of painringg out of hfilan. But 
diere is no common measure b^ 
tween the gravity of the two lands 
of alleged misdraneanra'. 

While carrying a picture from 
Milan to London entails no de- 
struction. the least infocmed view- 
er going to an auction of Indian art 
^ets some idea of the havoc fiom a 
single glance at die chopp^ 
he^ of Buddhas, the mutilated 
torsos of Hindu deities, the stone 
panels of Arabic and Persian monu- 
mental inscriptions broken up by those 
who cannot read them, the wooden 
doors and other aidiitectural fr^mraits 
ripped off mosques, Islamic mauso- 
leoms, and Mogiu palaces. 


SMbeby'i 




Ihfi’ 


‘Vanitas{StillUfeWitkSkuU}" 1941-1954,in "Braque.TkeLateWdrks^ attheRoyalAcadar^of^s. 


A nd why stop at India? When 
antiquities raictiotis take place 
in London, Paris or New 
York, sooner or later a tnuned 
observer catches sight of one or o&erof 
the wholesalers who craisign pots and 
bronzes visibly fitesh from tiie ground 
from somewhere in Tinkey, Syria, 
Egypt or other countries. 

Here the responsibilities are shared 1:^ 
many, most s^kingly and hypocritic- 
ally so by die miwMimg in the West (smd 
Jtq»n rates as ^’Western” in this case) 
who buy such objects or accept donatirais 
of die said objects. The fKt that the 
objects never have ID pt^XTS indie 
that there nuj^ be a shred of 
legitimacy in trading in such wares is not 
seen as an objectioiL The riction invoted 
is diat diey could oime finm ’’acek^^ 
finds.” 

The best of die ^ thus dug up does 
not turn up at auction, however. It is 
handled privately. One cannot help 
musing about die worid famous dis- 
coveries some of diese objects would 
have turned into if excavai^ in situ by 
archaeologists. 

The ait of Cambodia and Thailand 
has suffered huge casualties. These can 
often be measured by the horrendously 
fiesh breaks on the sculpture carted 
around in the trade, h has deterred 
neither museums nor high-powered col- 
lectors. The jiistiricatioa invariably put 
forward boils down to “better with us. 
than with others.” But if Am was no 
buying, Aeie would be litde or no de- 
struction. The export of die Nogari 
seems somewhat footling by compar- 
ison, however imediical. 


Late Braque and Slow Time 


By John Russell 

New York Times Saviee 


L ONDON — hi ait, as in almost eveiything else, ours 
is the age of the quick fix, the glance diat lasts hardly 
lon^ than a soimd bite tte reputation shaped by 
mai^^ campaigns, talk shows and celebrity en- 
dorsements. It is a rare person who still believes that, as tite 
poet John Keats once fanKxisly wrote, a wrak of art should be 
the “foster child of silence and slow time.” Someone who 
agreed wiA that was die Bench painter Georges Braque. 

Mote Aan 40 years after his retrospective at the Tate 
Gallery here, Braque's name emoe again stands high above 
one of London’s n^orexhibitirai spaces. “Braque: The Late 
Woiks,” on view at the Royal Academy of Arts, consists of 
40 major paintings, produora between 1941 and 19^ plus a 
group of die small landscapes and s^SCTpes done on the coast 


scmiesanc 

of NonnaiMfy between 1955 and 1959. Shorn of all references 
to die first ^ years of Braque’s long life 0^^2-1963). the 


exhibition nec^saiily presents an inconqjlete account of his 
achievemenL 

Braque is remembered by most people for his celebrated 
coUaboration wiA Picasso between 19w and 1914. Woridng 
logger almost indivisibly as partners and equals, they pro- 
duced what was later called Cubism. In just a yeu or two,tiiey 
shattered Ae dominion of perspective. 

Then and for Ae rest of Im life, Braque believed that 
“scientific perspective makes it impossible for us to take full 
possession of vAat we are locridng aL ” It was in this belief that 
he gave an unprecedented spin to Ae standard sul^ects of ait. 
Never did he do that more consistently dian m die late 
paintings, which will travel u> Ae Mraiil Foundation in 
Houstrai after they leave here on April 6. 

His wodEm pannersh4> wi A Pica^ came to an end wiA die 
outbreak ofWorid War 1 in August 1914. Braque went off to 
war, fought wiA great gallantry and was bodfy wounded the 


following May. (He had a bullet lodged in his head and 
narrowly escaped being blinded for life.) Hiereafter, be was a 
dianged nwn plmically. No longer aconvivial cranpanion and 
a keen amateur boxer well known for his mastoy of wto was 
then called “die English defiaise,” he had to husba^hk 
sttength. 

In any full-scale retrospective, it becomes clear that from 
.1919 until 1939 Biaque was consistently renewing himseif. , 
Ihoe were some relatively undemandmg small-scale pic- 
tures in Aose years, but Acre were also Ae outri^ mas- 
terpieces Aat took more inqaessive yearby year. . 

ft was wiA these in tiiat ajfter 'World War II aa 
infcnined public was excited to hear that Braque was at worii 
on a majestic series of paintings of mteriras. Spread ritix 
the Enghsh coUectra' Douglas ^cqier and Uder (wi A a wealth 
of ritsAapd inframation) by tiie art writer John Richndsrau 
this news arrived at a time when art-world ejqpectations were 
very diffsieot from what diey are today. 

b 1945, the qualities of Keats’s “^w time” were stUl 
prized, and Braque peisoaified dion. 'What is on view attiie 
Ro^ Academy is dte antithesis ■— Ae negation, in feet — ot 
the quick fix. This is not an immediaie art Most of Aese 
paintii^ toede yraus to make, and many of them were made in 
ocoqpied France in very diffexA condition . .. 

When woiktng wiA »compliciUed interior, Braque. wQuId 
start from an id» Aat sorai to(A shape on the canvas. “But 
tiien,” he would say, “as I go on woridng, the picture itself 
talres over. There is a struggle between die idea — Aepeture 
as preconceived in advance — and Ae picture that ri^ts for 
its own life.” 




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ART EXHIBITIONS 




University of Brighton 

The Brighton International Summer School in 


Programmes of study 


Art & Design 


13 July - 23 August 1997 


Fine art painting and printmaking 

Graphic design and book arts 

iilustration and drawing 

Three dimensionai design and studio cralts 

Fashion, dress and texliie history 

Photography and interactive mulii-media 

Media and performing arts 

Orientation programme for international students 



All courses are drawn from degree programmes offered at 
the University of Brighton and are fully credit rated. 

For furtfier information and a prospectus contact: 

Ms Lishka Everett, The Brighton international Summer 
School. University of Brighton, Grand Parade, Brighton 
BN2 2JY, East Sussex, UK. TU: 1273 642609 

Fax: 444 1273 643128. e-mail: Leverett9brighton.ae.uk 


Hosted and taught by the Unrverstty of Brighton 


^ t 


K A I K O D O 


Chinese and Japanese Exhibition and Sale 

Paintings & Works ot Art March 17 to April 12. 1997 


..if'-.. XV-.- 






164 East 64th Street 
New York. N.Y. 10021 


Tel 212-223-0121 
Fax 212-223-0124 



THE LONDON 

^Original* 


PRINT FAIR 


AT TKB ROVAI. ACAOBMT OF AXTS 


27 February - 
2 March 1997 

OPEN DMLT ttAM TO 6 pm 


TCLEPHONE 0118 932 0960 
PAX OIlS 934 3329 


iraa oM BBt NoEdgim 


Donne Proske-van Heerdt 
Fine Metfieval Books 
Illuminated Manuscripts 
Miniatures, Incun^la 
liitkipM U'Kvi koln 
Sesndf lOTri-- +3i-6-5339Z259 


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l-TeL/Fax: 431-(Q) 20.6628477 J 


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ring fTawtraliatwa 


AUCTIONS 


auction sales 


IN FRANCE 


DROUOT RICHEUEU 


8,ruaDrouol7S009Paris-TeL01 48002020 


PARIS 


Monday, Febnny24» 19^ 


Room 6 at 2:15 p.m. HISTORICAL SOUVENIRS - FINE 
OLD WEAPONS, collection J.G. and oAers. Etude 
TAJAN, yt, rue des Machurins 75008 Paris, tel.: 
01 53 30 30 30 -fax: 01 53 30 30 31. 


•Wednesday, Febni oi y 26, 1997- 


Rooms 5 & 6 at 2:1 5 pj n. 17A, 18A and 19A century 
FURNITURE and OBjb'ib D'ART, from an estate in "le 
paic” in Saint-Tiopez and others. Etude X4JAN, 37. rue 
des MaAurins 75008 Paris. teL; 01 53 30 30 30 - fex; 
01 53 30 30 31. 


In NEW YORK please coruaa Ketty l^feisoniouge & Co. 
Inc. Iti East 65tn SereeL fifth floor. N.Y. 10021. Phone: 


C212) 737 35 97 / 737 38 13 - Fax: (212) 86l 14 34. 


ANTIQUES 


FROM ]_3 TO 23 1997 

PARIS ANTIQUES' FAIR 


ILE DE CHATOU 


' ' UiKL'M RO'^I [‘xm Tn FH-'-.ri >l 


F\rfH nFi["'['i 


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Japanese Antiques 
Meui 8c Edo Periods 


We sell A pwchoss museuncquoTily 
Inpnniito Sotwim, farenzes, 
doisonne, pereeb i ns A on6yie 
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A BILLIARD table, for instance, is about the mod 
pi^ctable tiling there is. If anyth^ can be called 
a given, this is it, with its ffeea braze and polished 
brown wood. But in die big pictures of billiard 
tables at the Royal Academy, those sturdy centers of domestic 
amusement take on a wild new life of tteir own. Th^ buck 
like broncos. 

The climax of the show is undoubtedly tiie six maj^lk 
painting s dated 1949-56 from the ' ‘Studio” series. The studio 
had for a long time been the center of Braque's existence. It 
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during die last years of his life. He knew die subject maoer 
tooroo^y. since he looked at it eveiy day for hrairs. 

Wh^to in the city or die coimtry, hfe studios feced 
soutiiward. Curtains mrale of white cotton or cambric filtered 
the light, supplemented at times by v^tewashed windows. 
Rail as be was, he still came across as die understated dandy 
who luid a lifelong lilting for denim and wrae perfeedy 
polished Engli^ loraeis as he padded, inch by inch, from one 
canvas to another. As for the “Studios,” they are like 
reimagined encyclt^mdias in which one object swaps iden- 
tities with anot^, visual plots are thickeDi^ and front and 
back cl 




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SATURDAY-^UNIJAX; FEBRUARY 15-16, 1997 


Thai Market 
Shivers Over 
Debt Rating 

Review hy Mood’s 
Sets Gyrations 
In Shares and Baht 

Bangkok — T hailand's cmreiicy 
and share prices plunged Friday, but 
late recovered, after a major cr^t- 
nuog a^iicy decided to consider 
downgrteiDg die oountzy's long-tem 
' sovereign debt T8wi«g« 

The central be^ ntged investors to 
stay calm, saying the problems were 
not as bad as people feared. 

Moody’s investors Service Inc,, 
which downgraded Thailand’s short- 
term soverei|;D debt rating last Stet^- 
her, said Fnday it was placing Thai- 
land’s A-2 long-term lateg — which 
means less than perfect — under re- 
view. 

Moody’s said high interest rates, a 
diree-year property slump and die 
slowest econmnic growth m a decade 
would trigg^ increasmgloan de&dts. 
The U.S. rating agency quesdooed die 
“soundness” of Thai banks and said it 
might cut the ratm« ctffive of diem, 
indudmg Bangkok Bank FLC, the na- 
tion's biggest 

The announcement qiaiked a seU- 
ofif in the Thai coneocy and stodc 
markets, pushbg die U^. dtdlar as 
high as 26.220 baht early i¥id^, up 


Bailout in Bangkok ^ 





-V" 


fiom 26.018 Thursday. The baht re- 
covered to dose near 26.035. amid 
lepotTs of oeotral-bank interventioiL 
The benchmadc stodc index, which 
had phmged 3A percent Thursday, 
sinki^ below 700 points for the fts 
time in five and a half years, dived 
anodier 4.5 percent to 664.45 In the 
Friday momi^ sessuxL 
Dealers reported that die Hnmce 
KGnistty then ordered local Tnnft««i 
fimds CO start biqite. Kfinistry ofiGcUils 
had no comment. The market closed at 
713A8, up 15.42 pofans from 
Thursday. 

Analyst poitra^ the declines in 
^xxalyptic tBcms. It is “liloe watchiag 
a car ci^ in dow motion,’’ said To^ 
Martin, associate tfiiector of lesemch 
at SBC Waiborg in Bangkok. 

Lyim Exton, a Moody’s vice pres- 
ident, said the rating agency was ’'cm- 


oemed about the meltdown that’s tak- 
ing place in the moperty sector, and tbe 
impact that will have on the banking 
systenL** 

But Thiraduu Phuvanatnaranubala, 
ditector of supervision of financia] in- 
stimtions at me central bank, said be 
believed Moody’s did not have oom- 
{dete mfnmatioo about lus bank's ^ 
tions to support troubled institutions. 

He also said investors were over- 
reacting. “The ptoblem of asset qual- 
ity being faced by Thai banks is cor- 
rectable and isn't as bad as most people 
fear,*’ he said. 

Mr. Thfraehai Ihalland bad 
drafted sound plans to restrucmre the 
banks* iionperfonaing loans, many ck 
wind are tiie result of financial 
tronbles at ]nopeity cmnpanies. 

Amoig odier steiK, he sa^, fee cen- 
tral bank ha< ocganize s Res- 


oIutioD Trust Fund to help banks. But 
fee ceonal hoik governor, Rerugchai 
Marakanood, has the fund is more a 
vehicle for banks to obtain tax benefits 
fiom restructuring loans tiian a pactrage 
that involves expentfituies. Most ana- 
lysts have said it will do Hole to help 
jHoperty companies or banks that made 
risky preper^ loans. 

ThailaiMl's current-account deficit, 
one of the world’s highest, is projected 
to reach about 7.4 percent of gross 
domestic product tiw year, a level 
Moody's c^ed unsustainable. 

*’AII Thailand needs is a couple of 
quarters of strong export growth, and 
all Ais pressure on fee l^t will be 
releas^** Mi d John Woods, head of 
r e s e arch at HSBC Markets in Hong 
Kong. Still, *T don't see that hq>- 
pening anytime soon," he saife 

(AP, Bloomberg) 


Surge Leaves Even Optimists Looking Sheepish 


By JonaftiaQ Fnerininger 

New fort Times Service 

NEW YORK — The surge of the 
Dow Jones industrial average the 
7,000^point level has been so swift this 
year tot it has left even optimists like 
Hugh Johnson in the dust 
"Mr. Johnson, fee chief investment 
straegist of Hist Albany Carp,, is just 
<me of fee crystal-bdl gHvi ng anatysts 
who saw their 1997 Dow forecasts swept 


aside Thursday as fee index burst through 
7,(KO for the first time. He piediciedifaat 
tile Dow would end to year at 6.900, 
wiuefa it passed Wednesday.- 
At le^ he forecast to stock 
market would rise. 

David Sbuhnan, to chief equipr 
strategist at Salrmon Brothers loc., said 
to Dow. which ended last year ai 
6A48.27, would fall to 6,200 by mid- 
year and S.750 by year’s end. 

But both are standing their ground. 


Mr. Johnson is ^osophicaL Mr. Shul- 
man is defianL r or both it is too eaiiy in 
the year to see any change in the pro- 
pdltets lifting to stock marite. 

“This will be to third year in a low 
that I was very low in my optimism,” 
said Mr. Johiisoo, who \^comed to 
(^rportmuty to def^ his ftxecasL “Bui 
I don't attach a lot of significance m to 
number. What you rued to do as an 
mvestor is m ftuecast to directioxx. So 1 
don’tfeel bad that Ipredictedtite stocks 


would go up and toy went up more.” 
As to whai happens now, John- 
son said fee marlte had done about the 
best it win do for fee year; it just did it 
rhan be thou^L 

**Ibelieve now wife to Dow at 7.000 
there are leasrms to be worried,” be 
saife “The market is overvalued, arid 
fee i^de potential from here is not 
exciting.” He has already advised his 

SeeSrrOCKS,PagelO 


U.S. Producer Prices 
Fall Unexpectedly, 
While Output Stalls 


Cm^ttrebfOwSi^Pttm Dometts 

WASHINGTON — U.S. producer 
mces dropp^ unexpectedly in January 
for the first time in more thte two years 
while industrial ouroui stalled, accord- 
ing to government figures released Fri- 
day — more evidence that America’s 
economy is slowing while imlaiioo re- 
mains in check. 

The Labor Department’s prod^r 
price index, which tracks prices paid to 
factories, fanners and otiier producers, 
declined 03 perceni last month, to first 
decrease since October 1994. The in- 
dex's core rate, which excludes food 
and energy costs, was undianged from a 
month earlier. Declines in heating oil, 
meal and passenger cars led the drop, 
to Latxir D^anment said. 

Meanwhile, o^ut at U.S. factories, 
farms and utilities was unchanged in 
January from Decemb^, restrained in 
part by weaker production of household 
appliances, to Federal Reserve Board 
said. 

The operating rate for U.S. industry 
slimed to 833 percent in January from 
83.5 percent a month earlier, indicating 
room for moderate growth without in- 
flationary boaieDecks developng. 

The drop in producer prices com- 
pared favorably to a worrisome 0.6 per- 
cent jump in December and was much 
better than the modest rise analysts ex- 
pected. 

“It suggests we can have a well- 
balanced ecMiomy where you avoid the 
extremes of a recession and stagnant 
growth bur you alsoavoid an overheated 
economy that sends inflation noticeably 
higher,” said Stuart Hoffman, chief 
economist of PNC Bank Cotp. in Htts- 
bur^ 

A worse-than-anticipated report 
could have rocked to stock ma^et, 
where fee belief that inflation is con- 
tained helped to Dow Jones industrial 
average break 7.000 for to first time 
Thur^y, just four months after push- 
ing past 6,000. The blue-chip average 
backed off sU^tly Friday. Orage 10) 

B«id-maiket investors interpreted 
the economic reports as a sign that fee 
Fed will have little reason to raise io- 
teest rates anytime socm tt> prevent a 
resurgence of inflatian. Thar helped 


send Treasury-bond prices higher and 
yields lower. 

Although the producer price index is 
more volatile tl^ the consumer price 
index, which is due out Wednesday, its 
movements can foreshadow retail price 
changes. 

Wmle the nation's output of goods 
and services soared 4.7 j^rcent m the 
final months of last y^, consumer 
spending — the economy's driving 
force — showed signs of weakness last 
month. Retail sales rose a smaJJer-than- 
expected 0.6 percent in January, gov- 
ernment figures showed 'Ihursday. 

Consumer confidence in the econ- 
omy, chough, remained upt^c in early 
February, a University of Michigan sur- 
vey showed. 

“The Fed, while it's concerned about 
rising wages, still doesn't see hi^ier 
prices for finished goods.” stud l^er 
Kretzmer. an economist at NationsBank 
Cbip. in New York. Fed poli^makers 
meet March 25 to discuss interest rates. 

In another sign of a well-balanced 
economy, business inventories fell 0.1 
percent in December after holding un- 
changed in November, the Commerce 
Dtyar tm ent said Friday. An unwanted 
buildup in inventories can cause layoffs 
and productimi cutbacks as businesses 
try to clear their shelves and backlots. 

Prices for raw materials, including 
crude oil, showed the only Ug increase 
last month, rising S.2 percent. That is the 
largest increase for raw materials prices 
since the Gulf crisis in October 1990. 
Prices forsemifinisbed, or intermediate, 
goods rose 0.2 percent. 

For all of last year, producer prices 
rose 2.8 percent, up from a 23 percent 
increase in 1995. Tto core rate, though, 
rose by 0.6 percent last year, compare 
wife a 2.6 percent gain in 1 99S. 

Alfeopgh industrial production was 
flat in January, to fall in fee rate of plant 
use to 833 percent fiom a revised 833 
percent in December is one more sign 
tiiat httvy industry still has excess 
muscle to meet demand without raising 
prices. The Fed revised down its cal- 
culation of factory and utUi^ output in 
December to 03 percent film the p^- 
viously r^xxted 0.8 percent in- 
crease. (AP. Bloomberg) 


# ■>' 


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rf* A ■ . !•: 






ICOMOMICSCEtlE 

Cheaper Way to 


By Peter Passell . 

New ypHc Tima Semiee 

NEW YORK — Sternly wonW pe- 
titions and ringing screeds of ptiucifde 
are as much a part of campus lift as 
grade infl ation — whiefa is vfey Wash- 
mgtoa rarely takes them seriously. But 
Americans wmild do well u> pay at- 
tenrion to a Statement on global wann- 
ing sigi^ by 2JXX) mostly acade m ic 
economists. 

For one thing, to dgriatures cm- 
If Ttnd by Redefining Pro^os^ a gre ^ 


of policy-minded social scientists based 

in San nandisco, range from to newish 

left (Duncan Fol^ of Barnard College) 
to to skeptical center (James Heckman 
of to Umversity of Chicago) to to 
libertarian right (Gordem T\illock of tiie 
Univerri^ of Arizona). 

“Market-based approaches to coping 
wife climate change generate as much 
consensv* among economists as fiec 
trade,” explains Paul Krugman of to 
Massachusetts Institute of Technology, 

one of to organizers oftopolicy state- 

menL ^ , 

More inmortant. to statement fo- 
cuses on what is now regarded by in- 
sideis as a make-it;or-break-B issue m 
slowing aunospheric wannmgt d esiffl - 
ing an mtematiwial ^'stem that penmts 
rich economies to contribute cash m lieu 

of emissions reductions. 

“Allowing some to oHiot to 
teduce greenhouse emissKW could 

• duce the total cost by 80 to 90 percent, 

estimaies William Noidhaus, an econ- 


omist at Yale University and another 
organizer of to staiement 

like any conunioee lookxng foe con- 
sensus, fee drafters of to cUinaie state- 
ment cast feeir net widely. * ' We believe 
tiiatgltfeal climate change carries with it 
agnificant eoviimuDeotal, eoonoouc, 
sodfd and geqwlitical ri^ and.diat 
preventive stqis are justified,*' to un- 
feocidog inecoduction reads. 

Those who read on, however, will 
discover there is meat on these bones: 
“Sound ec<»oimc analysis,” to au- 
feois argue, “shows that there are 
policy options that would slow climate 
diange without hannmg American liv- 
ing standards.” 

And what misht feese policy options 
be? Here, to feaftes soke out a po- 
siti<m ifart seems aimost otrrious to 
econmnists, Ixit has barely entered to 
coosdousness of e n vi roum eotal policy 
makers. “A coc^iative tq^roacb 
amemg nations is'xe^oired — sudi as an 
mte mflrinnftl etnissKXis trading agree- 
ment,” to stateneot asserts. 

fhment rate of deforestation and 
combustion of caBton-b^ed fuels — 
coal, oil, gas — are adding carbon <£- 
oxide intt) the atmosphere f^ter fean fee 
oceans can absoib it The bi^ier carbon 
dkntide ooncentradons scriar energy. 

And wUle topeoe of to lesultii^ warm- 
ing is in di^iuiB, riring temperatures will 
probably (feange weafeer Mttmis rad- 
ically raise fee level of to oceans. 

Goveriunents of all to major econ- 
omy are vag^y committna to ccxi- 
taining greenhousc gas emissions be- 


fore oooe-a-centniy hmrictmes become 
an annual event in fee Caribbean, Kan- 
sas cams into a dost bowl and fee Bay of 
Bengal doobles in size at to expenre of 
Bangladesh. 

But to proces of sett^ emissions 
targets or creating political m stit uti ons to 
enforce to tazgett IS m to talkh^ stage. 

“We wanto to be tore early,” said 
Stedieo OeCanio of to University of 
Caufonua at Santa B ai b aia , “b^ine 
governments and politicians were 
lock^ mso poaticte.*’ 

The statenrat is inteoded to help the 
Qintei admiinstrazion press the ufta of 
creating an intenational market in 
emissians permits at to next global 
meeting on clrmate change, set ftx 
Kyoto, Jtqiaii, in December. 

The i<te is simple. If and when world 
leaden start to <kal wife to practical 
issues, are apt to set national targets 

for contaimng etnisskxis that will be , 
very eiqiensive to meet iO’tbe rich in- : 
dustrial eoemomies, and probably win | 
not be bonoxed in to Isi;^ emerging ' 
economies like Qum, Rusaa. Indiaand 
Indonesia. 

Creating an entissioos trading system I 
feat aHows already ticb ecooonues to I 
pay to emeegittg economies to use less 
energy and 1^ carbon^teisive fuels as 
they develt^ offers a double (hvidend. h 
reduces the cost for developed countries, 
in turn reducing fee chances their le- 
gislatures will baJk. And it creaies a pool 
of cental to be used as an Incetttive to 
push emer^ng ecosxmues toward en- 
vironnMotally bem^i ^wfe. 


CURRENCY & INTEREST RATES 


-- Feb. 14 

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any bank account you choose. 

Somebody's going to win all 
these millions of dollars, and if you 
act now, in just 3 weeks it could be 
you! Let us hear from you. It might 
just be the ’’move” that will change 
^yourlifo! 


CASH 


pRpes 


i iT u r gre a 


MraBJ 

fW M . a «a i a «. 




Game 1 

pnsiEiEi 

piD3Gn 

BBSSlEil 

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BHIS30E3 

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0[0aE3E 


Game 3 

DIE1EEISI1E3 

BDEISE!] 

niEJ^EDEI 

0SS1E2C2 

BlS^ESES 


Game 4 

BEDEISS 

0C05I51E3 

□eei^eoes 

0[Q^^Q] 

0B2JS3E 


Number 60 DRAWS 132 DRAWS teA 

of Games (lo weeks) (20 weeks) ^^9 

> ONE GAME a US $ 59 a US s iid^H 

> TWOGAMES □ $ 118 □ $ 236^M 

>• FOURGAMEsIq $ 236 I □ S 472 

9 IndrattytepsynienttnethodbetaitfVKlniaSorteyoureniryloday 

Rose diaige my cradl card hx USS 

Cato No. 


270 DRAWS 
(40 weeks) ^^9 

□ $ 

□ a 944 

□ Amerkmn ExpiteS 

□ Vba 

□ MasterCard 
~ ODweis 


Btp. Data / Signature: 

□ I enclose cheque/bank draft lor USS ‘nniMnirtviT-H 

payable ta Pack PuvsM iNiEnumoNM. «win4arareiBaHnpnd.rtaK 

. 1/F, 15 t^idiatolSL. Spring HU 

Brebane.Queensted 4000. AUSTRALIA | | 

&mait enm«W.pfi.ne* immediate ordering RAX;(617) 3397 3814 

NAME: 


NAME: 

I ADDRESS:. 

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30-Ycar T-Bond Yield 


6200 








5600 


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IfNuiMWMl Kosld TVibiloo 


Very briefly: 


Canada Forestry Giants to Merge 


TORONTO (Bloomberg) — AtHtibi-Prioe Inc. and Stone- 
Consolidated Conx, die top two forest products companies in 
rjnawta, said Rri^ they would moge in a stock swq) that 
would create die ^insrid's biggest maKtf of newrorint, with a 
mar ket value of 4.14 billioo ranadian doUars ($3.06 billuxi). 

Abitibi shareholdm will receive one share in die met;^ 
company for every share held, and Stone shareholders will 
fi^ive 1.00^ shares. Themet;^ entity, to be called Abidbi- 
<^iToii dated Inc., will have anm««i sales of 4.9 billion doUars 
and control 8 percent of die global newsprint marioet Hie deal 
is expected to be in die second quarter. 


Betty Boop and Rockabilly 
Update the Mercedes Image 

Entertain-and-Sell U.S, Ad Effort Begins 


By Stuart Elliott 

New Yori Times Serna 


NEW YORK — Attempts to create warm, fu^ 
feelings about the vehicles sold Mercedes-Benz of 
Norfo America continue widi an extensive and ex- 
pensive brand-image campaign — its largest ever — 
That seeks to play up the tome in Teutonic. 

The budget for the unconventitmally emotional 
televisioa, mint, outdoor and interactive «»mpw«gn 
by Lowe &Tartners/SMS in New Yofc. is estimated 
at $4S million. An additional $55 miliitm or so will be 
spent to peddle' new offerings like the CLK coope, 
SLK roadster and M-Class sport utility vehicle. 

The ITIMge campaign is emblematir nf a significant 
shift in maueting cars and trudes, which tries to drive 
customers into ^wrocKns by entemmiog and amus- 
ing tiiem rather than inundatizig diem with detailed 
product "*specs” or shots of diiny sedans makmg 
sharp tums on rain-slicked roads. 

Two agencies owned by Omnicom Group helped 
start the trend: TBWA Chiat^ay in Venice, Qdi- 
fomia, for Nissan Motor Corp. U.S.A., and Goodby, 
SDversfein & Partoers in San Francisco, for Amer- 
ican Isuzu Motors. 

The Mercedes-Benz campaign is infused with noD- 
traditional id^ di^ would once have elicited out- 
cries from executives at paieat. Daimler-Benz 
AG in Stut^art 

There are Busby Bcrkcley-style production num- 
bers. pop-culture figures from Betty Boop to the 
1970s “hai^y fEue” and even acommercial centered 
(m the song “Falling in Love Again*’ as waitded by 
Mailene Enetrich, whose woik for the Allies during 
Woild War n alienated a generation of Germans. 

The rnTTwnwgialg, wfaidi began tunniiig Thursday, 
as well as the other elements of the campaign, are 


meant to “define this great marque in new ways.' ’ said 

Mike Jackson, a vice president at Mercedes-Benz of 
Ntttii America in Mdotvale, New Jeis^. 

The goal is to stress “not only dwiational astiiboM 
of Mercedes-Benz being durable and safe^** he said. 


bat the exciting ftnre innai attributes of bobog in- 
nov^ive, fim to mive and youddul in qariL* * 


“We want the carnpaign to be ooitemMcary ' smd 

Lee Gatfinkel, the co^^dtaitman and cdiief creative 
officer at Lowe, ^rindi'is part of die Lowe Group unit 
of tile bitetpublic (Sroup of Cos. Researdi shows 
attitudes about Mercedes-Benz changing, he smd, 
from consumera “saying ‘It's the best car to 
Tt’s the best car for me, relevant te tody’s 
series.' ’’ 

Mercedes-Benz’s U.S. sales last year rose 18.4 
peio^ to 90,844, frexn 76,752 in 1995 — within 
striking distance of tte cotpotaie leootd of 99,000 set 
in die yuppie yearof 1986. 

“We we’rein apositimi to set a new record in 

1997,“ Mr. Jackson «aid_ James Hall, vice preside 
for industry analysis at tiie Soutiifield, NCcWgan.- 
office of Auto Pacific Inc., a consulting ooi^|ny, 
predict^ “a serious uptick’’ in sales to 106,()tX) to 
109,000 the end of 1998. 

He praised Mercedes-Benz for tatning fiom “the 

. , . . . who are 

?on what the 
'introdndng cats at 

prices lower than tiiose they’ve teplac^ ' 

“And the advertising hu made people stand up 
and take notice by Indming awareness,’’ Mr. Hall 
said. In one co mmemial, set at a news conference. 



Mercedes-Benz enqilpyees, including ettgineeis in 

rodtamlly song-and- 


wfaiiB lab coats, br^ into a 

dance numher. A scc nud ghnw g dasert animals emop- 

ing and swaying to “Don’t Fence Me In.” 


STOCKS: Bulk Are Looking Sheepish 


Continued from Pago 9 


perfoimance-ffieiffid, risk-averse 
clients to move some of diev money 

from stocks to bmids. 

He quickly hedges, however, cit- 
ing the variable mat continues to 
confound even tiM market bulls ^ — 
tile record billionsof dollars poofing 

into madfiet mutual funds: 


“But given these strong flows inn 
motiial fonds, it’s anybotty's. 


guess.*' ^ 

Mr. Shulman still insists that the 
Dow will end Ac year aroin^ 6,000. 
He e x p ec t s earnings momentum to 
slowTtoerest rates to rise as the 
I^d^ Reserve Bbaid moves to 
cuib inflation by slowing economic 
growth, and stock-selling to in- 
crease after Congress movM tow^ 
approving a cut m the cental gains 
tax. 


*‘It is no fuD'to be on die wtou 
usaid. 


tide of the milt, ' ’ Mr. Shofanan sai 
But, he addi»d, “That adiole brew 
will ynuVs for a coxxectioo. 1 don't 
see ai^thing d i ffe re nt from two 
wedcs ago except that stodc prices 
are hi^ier.'’ . 

The stratecsts having fon are 
tiiose like Ra^ Acanqxna. whose 
forecasts are comitotably above the 
7,022.44 the Dow closed at 
Thmsdiv. Not many are fiudier out 
than Mr. Acampora of Prudentid 
■ Sfteiir i ries , who m JizDc 1995 said 
the Dow would hit 7,000 in the 
twginning of 1998 — that'S light, 
next year. 

“^eiyoae lodted at me like I 
had a hole in my head,*’ he said 


Laszio Birinyi, the head of A 
Birinyi Associates m Greenwich. ** 
Connecticut, is also in the 8,(X)0 
club. “We believe an 8.000 I^w is 
not nniessonable.’’ he said in his 
outlodt fax 1997. 

And while Mr. Johnson of First 
Afoany and Mr. Shulman of Sa- 
lomon Brotiiers seem to have Ira 
nm over by ihe.flow of mon^ into 
stock mutual funds, Mr. Birinyi is 
twrring Qp tiiein. - “With mon^ 
fhw,^ he sa^ “the market wiU 
cohrihue to do better.'’ 

■ Stocks Slide Below 7,000 . 

Stocks retreated from record 
levels late Friday as investors re- 
apinaised whether a two-year-l(^ 
rally has thrutf stodcs to unsustain- 
able levds. given foal earnings are 
not expect^ to boom and interest 
rates prol^ly will not ewne down, 
news services repbrred. 


iolirr IM 


, ‘rf 


■ ;.nrt 

.'-i 


.'.Jh 

■■ .-.'k.'i 


4’ 


■¥. 


U.S. STOCKS 




Thursday, xecallmg tiiat tiie Dow 
was toen aroond 4,5(X). “So tiiis 


tells me (hat tiiis is strong than 
any thing J bad predicted.* He has 
harirnd that up In his newest fore- 
cast, mprc^atdy called “Beyond 
7,0Ci0.*^Hisyear-e^ number on tiiie 
for the Dow is now 8,0(X). 


The Dow Jones inchistrial : 
dosed n 6,9^96. down 33.48 for 
the day, alter closing above 7,000 for 
tiie first time Tfaursmiy. Broader mar- 
tet indexes were also kywer, but <m 
the New York Stock Exchange ad- 
vancing ismes still edged can de- 
diners less tiian 10 to 9. The 
Standard & Poor's SOO-stock index 
finisbedat 808.45, down 337,.while 
the Nasthiq Conqiosite mdex dosed 
at 1367^]?, down 3.62. 

Bank stocks rose after tiie release 
of U3. ectmomic data tiiat pointed 
to low inflation, which' reduces tiie 
possibility the Federal Reserve 
Board will raise iuterest rates soon. 

OQ producers fell after a Merrill 
- Lynch analyst cut his recranmen- 
dmoQ on Royal Dutch/SheU, saying 
crude-oil nices would d^ soon. 
Qtevron. Texaco and British Pet- 
roleum idso fell (AP. Bloomberg) 


li'"' 

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Intel Invests in Samsung Chip Plant 


AUSTIN, Texas (Comtnned I^patdies)j^ Intel C<^. is 

lies Co.’s 


mairing an equity investment in Samsmig Electrofiics 
memoiy chip plmt here, Samsung announced N^y. 

Terms of die a^eement were not dikitsed, bat tiie South 
Korean g^ said it would retain full control of the fiictory. 

Intel will get a ^ledfied supply of dynamic random access 
memor|r efa^ whm the plant, stul construction, begins 

production m late 1997. DRAM chips are the main memory 
conqxmeot in personal computers. (AFP, Bloomberg) 

• Susan Phillips, a governor on the Federai Reserve Board, 
warned big banks and otiier financial institutions that di^ 
must disclose more fully the risks they take if they expect a 
Ulster regulatory burdeiL 

• 360 CommunicatHMis Co.’s fbuitb-quaxter net profit 
jumped to $5.4 million, or 12 rimfts more than in the l?l«» 
quaiWof 1995. 

• The Metropolitan ConndS of Newspaper Unions, uriiich 
has orchestrated a 19Hnoadi strike a gainst Detroit’s daily 
newspm^, may soon announce an imramHitin nai back-to- 
work oner, an official said. 

• Sears, Roebuck & Co. plans to open 30 stores in New Yoik 

the Daily News rqioited. Bloomberg.AP.Reuiers 


Dollar Mixed on Fears 
Of Central-Bank Action 


n-TTTiTffjrrrlriirrhTrTi ri|Tia-tri 

NEW YORK — The dollar 
was hitler againat the 
Deutsche mark om other ma- 
jor cnneocies late Friday, but it 
was lower against the yen as 
markets lear^ cautiously to 
the pos^niity of Jsypanese 
central-bank interveatian to 
stop the dollar’s neady two- 
ye^ rally, traders said. 

hi late trading die dollar 
was at 124J250 yen, down 
from 124.405 yen Thursday. 
It was at 1.6890 Deutsche 
marks, up from 1.6843 DM, 
at 5.6890 French francs, up 


fitxn 5.6860 francs, and at 
14650 Swiss francs, iqi from 
1.4548 francs. The pou^ was 
at $1.6220, do^ from 
$1.6238. 

Dealers said trading was 
calm in the approach to the 
tinee-day Pi^deiits Day 
weekend in tire United States. 
Cuxreau^ markets in New 
York wul be closed Monday. 

The release Friday of U.S. 
economic data tiiat point^ to 
moderate ^xiwtii low in- 
flation did not appear to have 
affected the dollar, traders 
said. (AFP. AFX) 


INTERNATIONAL FUTURES 


Feb. 14, 1997 

Hipti Low OoM Oigt OpW 


Grains 


CORNtCKm 

SMO bu mHnwn- oon per twM 


HiBb 

Uw 

dOH 

Ckga 

OpM 

ORAHGEAUCEWCTW 








E7T^ 

7BJ5 

+225 

HL4M 

Movf7 E20 

ain 

njo 

+146 

L7S! 

JU97 IMO 

hjb 

8520 

+146 

1611 

SepV S7.U 

BLH 

D.75 

+140 

131) 


. Th^xsides 

64H 



rt,e» 

up 3SS 



High Low Om Cbge omnr 
1S-YEAR FRENCH CXEV. BONDS ttUTin 
R9RC10W - nis of 100 per 

Ms 97 ram mio is 2 .u ■mls213M4i 

Jon 97 U1.1X isoas 131.14 +050 1&304 
sap 97 ia9J4 199.14 ^VM +040 901 

Dee 97 N.T. N.T. 98J4 +052 0 

EsL whimK 1 49,07« . Opeo taL 1 S&746 Oil 
4334. 


Lot Oor C hga 0^ 

Mim Mil ^ mK +CUIS 17544 

Jwm 94.10- 91M 94.10 +005 10344 

faults: S4ASX Pm. MtoK OUn 

Pm-gpiPliit: 994S5I ep 0511 


Industrial* 
COTTON 2 (NCnO 


Mor97 376N 

re 

275W 

1M475 

MUV97 276 

273N 

274N 

+ N 

■7414 

juifT re 

278N 

777N 

♦ 1 

77.954 

S8P97 M9i 

367N 

M7N 

-N 

NUIS7 

Dec97 2HW 

367K 

268 

-N 

4X521 

ENsules NA 

Thu'xades 

411» 


Tiu'saptnM 

328451 

rtf 372 


50YIEAN MEAL (aOD 










-140 

314N 




-1.10 

354*5 


■“li ' 


-140 

213*4 




-141 

xae 




-1.18 

im 




— IJO 

1,178 


mirr/rr-rx 

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up 144 


SOYBEAN ON (CBOT) 




MLOn in- certs per b 




MV97 21*0 

2SJ3 

217* 

-048 

3748* 

MmfT MS 

2X13 

3115 

-041 

3X495 

jiiifT 3ia 

3155 

3X55 

-04* 

11*17 

r-n/reji ■ 

3420 

3X10 

+845 

1351 

r**Tre*i 1 

2195 

3195 

+8.10 

3435 

0d*7 3580 

319* 

3195 

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Ttaj'xsrtra 

1X61 




Off ID 


SOTEEANSKBOn 






Mrt-97 7*5 

7*ito 

7*3N 

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17,1X1 

Mor97 7*5 

7*m 

TtfN 

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JrtV7 7IMN 

70 

TON 

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37485 

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79 

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Sepf7 72*>% 

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-a<'4 

3451 

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7*45* 


Thu'tOPrtiM 

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5280 Um nUnun- GOMi era umM 


Mrt-f? 3U 

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358 

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21135 

AWv*7 3*9 

35* 

3S*h 

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17451 

JUI97 IMN 

36 

36N 

-V| 

37,451 

Sep*7 Sa 

W4 

M5V] 

— N 

1338 


Metals 


tsao 


COLOOKMX) 
lao nv 0^ deOon pcrirpif as. 

Feh97 3«M 3UJ0 3C50 
Mcrf7 3CJD 

APT97 3M40 3CL70 3«.I0 t&IO 

JW97 3SOE0 34550 3SUD »S5I 

Auo97 3SU0 341.10 35U0 +&« 

Od«7 35550 35U0 3&5D +540 

Dk97 39J0 3SIM 39JQ 4-550 

MU 3SUQ 3SUI0 3SU0 +100 

Estsdes NA. Ttai^sdes 3X419 
TlM^OTifert noni up 54? 


XlfS 

E 

lOon 

303M 

Mue 

X3S6 

MJS 

3A3t 


M GRADE OOFPSI (NCMX) 

3SAOO As.- ewOs par ta. 

MI7 10100 N7A0 I07JD -045 IJ7D 

Mirf7 10020 N550 107.15 -090 SA39 

Aor97 105.95 1.779 

MovfT 10150 MUD 1D4JB -045 0920 

Jun97 I03A5 IM 

*497 101M leiJO 102EI -035 4.719 

Aub 97 IOIJD 022 

SBP97 10050 10070 100.70 -020 2AS9 

04197 IflOLlO 510 

Etf.soles NA. Tlprs.sdK 12.49 
Ihu^opnint 54.01 * up sn 


SH.VHtGKMX) 

oooo Par arts par aw oz. 

Feb 97 51110 0 

Mv97 527JO 51100 95il0 +IOIO MJ93 

Anrf7 SUM SBAO 52200 +520 4 

MW97 SXOO 51050 S3U0 +10J0 21511 

A497 S7O0 52220 SMOl +M.ID 9AU 

Sw97 54000 S3IA0 S«0l tllAO XI07 

DK97 S«O0 53500 54500 +10JD SJfl 

JnM 53010 1 

Estsole NA Ttaj^sdes 2XM9 
Thu'iopenM fSMS off 1106 


ITALIAN GOVEKNMEHT BONO OJPFE} 
m 300 RiOn - pB or 100 ad 
Han 131.14 13022 +045II7AI5 

JUP97 130L<a 12920 U027 +020 IS22S 

Sep97 N.T. N.T. 13U4 +045 400 

EitsOo! 00511. Pm.sflles 82274 
Pm ope* lot: 13X990 up 0094 
EURODOLLARS COMBO 
61 irtN u ri o u oflWPtt 
Febf7 94B 9130 9452 

Mv97 9451 9441 M51 

Apr97 94« 9441 9L47 

Jun97 5443 9431 9441 

SUP97 9435 9421 9421 

Dk 97 HI9 9410 94M 

Mar 91 9409 9X99 9403 

Jw98 9357 1329 9X93 

Sap 91 9329 9324 9325 

Dec 91 9X79 9X71 1174 

Mr9f 9X73 9325 9172 

JUI99 9X41 9X44 9144 

Ss99 9322 9159 9X41 

Dec 99 9154 9X« 9153 

ESLsdes MA TlM^solB 317227 
ThU^UpeiM 2522.903 up 13735 
BRmSH POUND (CMBR) 

02 W pounoh S par pound 
Mor97 IJlfl 12ISI 15110 
Jun97 12210 12150 15190 
Sap97 1527D 

Dec97 15130 

Estsoles KA Tiw^sdos 1595 
TlknePdib* 30007 W 927 


Mor97 7320 7320 7X45 4024 14513 

May97 7522 7471 7495 +020 21.132 

A097 7520 75.95 7S55 +015 9255 

Od97 7520 7520 7530 4030 1275 

Dec 97 7620 7521 7420 12572 

77.15 111 

EstsolB NA 'nuVsdB I0S7I 
Thu^flpenM 47, m up 21M 


+O00 19514 
40013900a 
+023 0943 
+003 3143a 
*023 29X914 
+025 215,444 
+024 113523 
+001 i4X3e 
+001 1042N 
+QJ5 1X051 
+005 46435 
+055 40132 
+055 54417 
4055 454U 


34171 

2219 

159 


CANADIAN DOLLAR (ONER) 
iao.au doun. t pv opl dh- 
Mv97 J49 JaU 2430 
An97 24» 24B Ha 

Sap 97 2511 2SN 2501 
OCC97 259 2Sa jsa 

NA Tliu^oalB 7413 
Tlai*S0PenM S475 up 1X79 


41217 

ow 

X4IS 

437 


HEATING OLONVen 
4X000 gd. oerU per oa 
tSaV 4050 60n 4055 +013 

Aprf7 5015 5330 5430 4020 

540997 920 S42S 5L15 4025 

JUP97 5150 5120 5620 4050 

2497 5430 5500 5520 4055 

AUP97 5620 5455 5*55 +025 

SU97 920 5090 920 4070 

Od97 955 920 955 4155 

N0tff7 5035 50W 5U5 4155 

Dk 97 5090 SOa 5375 4025 

EasdB NA TlM'LSdu 34190 
Thl^OPdlM 1032a UP 1226 

USHTSWEBTCSURIEWMER} 

12H BbL- delara per UH. 

Htrn 2220 2259 2255 +333 

Aprl7 2XW 2129 3153 4019 

MU997 21JS n25 2121 4054 

Jun97 31.a 2150 3121 4052 

5497 2150 21.10 2015 -021 

2092 20JI 40.17 

1373 2023 4017 

2055 3020 4021 

a0.« 2020 40U 

Wirt 3UI 4021 

2057 957 4332 

rtrt „jn +ug 

.— - 1925 

BOaoles NA Thd^MlSB 13129 
Ttw*Sopdiinr 0X019 i« 839 


3X7IT 

2X051 

9597 

14P 

550 

X49 

329 

1134 

1517 

XW 


Aub 97 2025 
S997 2050 
Od97 2050 
Nov97 2020 
DK97 3325 
JonN 2035 
MN 3UB 
MV 90 


53507 

7X104 

0.171 

isja 

1X7« 

11502 

8201 

34512 

1X154 

7,970 

1146 


EgLHlei NA ThU^WNu 17,1iS 
Tla4sopaifeil 7X01 up 1015 


UVMlOdL 
CATTLE (CMBR) 


Atr97 4L9 4L3S 4427 +007 OJ70 

AaifT 4415 *X9T 44JI -013 1759 

Aw *7 6U3 4160 4323 -OB 11227 

Od97 4750 057 055 -050 11265 

Due 97 4957 057 49.0 ^10 4JO 

Feb«l 70*5 7025 7055 359 

EN.saia NA Thu^sdes 1950) 
Tlu'eapenad 101519 UR 39 


PLATDHM (NMBU 

minunT iWnniwraiinll 

APT97 9X50 3050 37150 +250 19271 

2497 3M50 SOM 9450 +220 -X4I4 

OdO 9450 37Xn 37X00 -020 

Jonfl 9650 

Ed,mia NA TTei^edei 3513 
TtarsOPCnM 2L3S Off 155 

Gaia p — i ^i.— 

LONDON METAL5(IMQ 'wnw" 

DuMun per maMe 9P 


2211 

1,110 




Grade) 

1 TS31H 154X00 154450 


157550 157000 


SS^’^aaSlS^^lf'SsXO 239000 


J 

f^nmU 325750 22S&00 aaaaflB wap 


GERMAN MARK (CMER) 

19200 manch t per mode 
Mo-97 5N0 5921 5139 

An 97 .5992 5R0 5975 

Sra97 20)2 2012 2012 

Dk 97 ion 

g4.nlB HA Tlw^Mlas 21.109 
Tlu^aeaiW 11.714 pH 32s 

JAPANESE VBI (OMEIQ 
IZ2 miBon van, 6 pv 100 irti 
MV97 5115 5044 5094 

JUP97 5E* 510 5199 

5*97 5310 5297 53B 

»4dH NA Thu^salB 1L57* 
Thu^opdihd 0X177 off 314* 


NATUU^GASCNMBR) 
10200 mm Uhn. S per nan Mu 
MW97 lUD 1292 250 


90407 

L939 

2550 

20 


Aprf7 2530 1200 ire 

MW97 xm 1200 1290 


JUi'W 1000 12a 1290 

Jd97 2515 1.995 25N 


Aug 97 2525 ZOOO 2515 


S0P97 2XSS X0Q9 UK 


Od97 2540 2JB0 2525 
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LepfT 7Ajm 7452 7455 —007 

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Jun97 499 59M .010 

Sup 97 JOn 2010 JOlO 
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BMMTH STERUNG (UFFE) 
amnB.pbrtmpa 
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I'iioim k '! uiKi I?* 


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EGYPT 


UBERAIIZATION. DEREGULATION. PRIVAnZATION. 


Onr polioes for this stage of onr 
ecoDonuc prognuD aim at one 
fundamental goal - growth... 
one that is sustainable, one that 
reflects the true potential of this 
country. To tins end onr policies 
rdy on three main dimensions 
of action: Increased investments, 
greater openness to the 
g^bal economy, and ' 
increased productivity. 


- PBSSiDErrr Mohahad Hoot HOBABAX 
iNMJCSBAL ADDBESS BIDCA CONRB0a 
Nmerabar 12, 1996 


WONDER OF THE PAST. 

YOUR INVESTMENT FOR THE FUTURE 


PrenndUnrtkaDepi 


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A Gloomy Renault 

Repeats Warning 
Of Higher Losses 


PARIS — Renault SA sounded a 
new waming Friday ab^ its 1996 
resdK, saying that its operating loss 
will be ‘considerably higher” than 
market expectations. 

France's No. 2 automaker blamed 
a “relentless and aggressive” price 
war, partjcuiariy in France, which 
accounts for 46.1 percent of overall 
revenue. 

An^ysts estimated an operating 
lo^ of from 1.3 billion francs ($229 
milhon) and 1.6 billion francs for 
Renault, whose profrt margins were 
eroded last year “despite the in- 

Orkla AS 
To Buy Rest 
Of Brewery 

OSLO — Orkla AS said Fri- 
day that it would bay Volvo's 
sh^ in a big Notdic brewery 
for 4.7 billion kroner ($706.8 
million), in a move that com- 
pleted a takeover of tiie Swe- 
dish automaker's food and 
beverage investments. 

The deal would make Orkla 
the sole owner of Mpps Rx^- 
nes brewery, the dnminanr sup- 
plier of bev and soft d rinks m 
Norway and Sweden. 

En 1995, OiUa bought all of 
the Procordia food group from 
AB Volvo except for its Mpps 
breweiy division. Fripps was 
instead combined with C^kla's 
Ringnes brewery in a joint vezt- 
ture, with Volvo owning 35 per- 
cent and Oikla 45 perceoL 
“I think tile market will look 
positively on the possibility of 
Orkla developing Pripps 
Ringnes,” said Stein Aadland, 
an analyst at Pl^o Foods. 
“The valu^oo of ■ Pripps 
Ringnes looks fair.” 

(^a also said its 1996 pretax 
profit rose 29 p ercent to 2A3 
billion kroner. (AP, Bloomberg) 


crease in revenues of the automobile 

divioon,” the c ompany said. 

Shares in the compaiQ', which 
said previously tiiat it expected to 
lose money Ml both its car and truck 
oper^ons andieport its first annual, 
loss in 10 years, nril 75 francs Fri- 
day to close at 12250. 

Shares in otiier auto companies 
also fell on the latest ^oomy pro- 
pouncements from -the Prend car 
industry, which b^gan the year on a 
eroxk note. Ireugeot Qtioeiv 
France’s biggest automaker, fril 28 
francs to clo^ at 584 Friday; the 
company last week lepo^ a 5.1 
pero^risein 1996 sales, to 172.67 
bUlion francs. 

I^ch car sales feQ 34 perc en t in 
Jami^, reveaiiiig tiie market's un- 
deriyxng weakness after more than 
two years of state saf^Kwt tiuougft 
incentives for people to buy new 
vehicles. The incentives eod^ last 
autumn. 

Renault said its peri V imtange last 
yetf was maned 1^ tire price wars, 
which drove op mariceting costs, and 
lower truck sales in the United 
States, where Renault owns Mack 
Trucks. 

Renault win tmveal 1 996 earnings 
on Mardi 20, after a.meeting of iti 
board of its dire c t o r s. 

It said 1996 sales totaled 184.08 
bUlion fiancs, almost UDChanged 
from the previous year's -sales of 
184.07 bimcHL, as a 95 percent drop 
in track sales t^set a 23 percent 
gain in the car divisoo. 

be in 

wtaidi has been losing moo^ smee 
tile second half of 19%. Sevesal said 
they are loddng for a division op- 
erating loss aioand 3 Union firancs, 
against iirior estimates of a 2 fcillioa 
fnncloss. (Reuters, Bloomberg) 

■ Saab Loss "Widau 

Saab Automobile AB said Friday 
titat its second-half pretax loss 
widened to 7^ ndUion kronor 
($101.7 mUlion) from 47 milHon 
kro^ the previous year because of 
higher proouction and marioeting 
costs, Biocanberg News repeated. 

The full-year pretax loss came to 
1.240 UUioa kremor. In 1995, Saab 
broke even. 


INTEBNAlXpr^ HERAU> tBSBUNE, SAiriRIJAY-SUNDAX, FEBRUARY 15-16, 1997 

ETJROPE 

Cennan Carmakers in Dock 

EU Probes Curbs on Foreign Auto Shopping 


GMfWtf b* OvA^Aimi Uifochef 

BRUSSELS — The JEunmean Commission vs 
widening its investigaiira of German carmakers 
suspected of prevenmg custonm from sho^^g 
around imernationally to find the lowest jmees, 
commission officials said Friday. 

Dealers for Mercedes-B^ AG and Adam Opel 
AG have come under suspicion of interfeiing w^ so- 
called “parallel trade*' — whi^ hqyeos when cus- 
tomers try to buy vehicles elsewhere m the IS-nation 
European Unioo when price differences make it at- 
tract to do so — in Germany, die Netherlands, 
Belgium and Spa^ die ofSetaU said. 

The investigation comes as tiie commission, the 
executive atm of the Unitm, continues to look into 
charges that Volkswagen AG and its Audi AG unit 
prevented drivers from buying their cars at cut-rate 
prices in Italy. 

Commission investigator have seized documents 
at Mercedes-Benz, the Inxury-car unit of Daimler- 
Benz AG, and 0]^U tiie Goman unit of General 
Motors C^. Ihe officials did not reveal tiie date of 
the searches. 

In the case of Mercedes, the European Com- 
misrion has received complaints that sales were 
blocked in Belgiom, Gennany, the Netiierlands md 
Spain. For Opd the ccmplamts related to the Netb- 
enands. 

If the commission were to die companies 
guilty of malpractice, it could force them to ^ve up 
their exclusive agreements with distributors, amove 
which would open the tightly coo trolled vriude 
distribution system to greater competitiem. 

Altix)ugh & commisaoQ belief that close links 


between automakers and dealers severely restrict 
price competitiem, it agreed last year to grant the 
industry an exemption from EU rules. 

The move dis^yed consumer groups, who be- 
lieve the system is die main reason why the in- 
iroductu» ^tiie EU sii^e market in 1993 has failed 
to elamnate price diffsiences berween ^ states. 

News of me nids emerged as the commission 
released details ofcar-price differentials across 12of 
the EU's IS member countries, excluding Greece, 
Fnland and Denmark. 

A survey of pri^ for the 75 best-selling models in 
the Europe UnioQ found 23 were cheapest in the 
Netherlands, the commission said. was 

next, with 21 models cheapest there. 

Gennany u^iped the list of countries with the 
highest auto prices. There were 17 models that were 
most expulsive there and 14 that were most ex- 
pensive m Britain. 

The commission complained that price differ- 
ences varied among EU nations by more than 20 
percent Ax’ 40 of tiie models in the survey, despite the 
EU's efforts to create a tingle maiket across its IS 
member nations. 

For 40 of the 75 most popular cars, the difference 
between the cheapest and the most expensive prices 
before tax was more than 20 percent. Tims the cost of 
aFord Resta in Portugal was 26.8 percent lower than 
in Britain, where they are made. 

“It was found that fmal customers still encounter 
obstacles in certain member states.” the commission 
said. Dealers or cannakers raising to seU to all 
comers would be in violation of EU single-market 
rules. (Bloomberg, Reuters, AFP, AP) 


Williams Offers to Acquire Qiubb 


LONDON — Williams Holdings 
PLC said Fci^ it would pay £1.3 
bSHcm ($2.1 bilnoa) in cash and stock 
for Onibb Security PLC, m a move 

lhii> W niiamg «myl tu rni]d tnaW iha 

worid leader in fire protBction and 
securi^ systems. 

Wiliia^, which makes Yale 
Jocks, Sjdde fire extinguishers and 
other securi^ products for such cli- 
ents as Boeing Co. and 
Martin Coip., is offering the equi- 
valent of 450 pence a share for 
Middlesex-based Chubb. The offer 
includes the assumption of some 
£30 million in ^bt and is recom- 
mended by Chnbb's board. 

WilltamB stodt dropped amid 
concern tiiat the company did not 
have the financial clout to buy 
Chubb. Williams' shares fell 37 
pence to 301 pence, while Chubb’s 


shares rose 5 pence to 425 pence. 

“Ffom an mdustrial jp^t of 
view, it is an absolutely iopcal fit.” 
WUhuns’ chief executive, Roger 
CaiT, said in an intsiview. 

wmi«nB said its Yale and Kidde 
businesses were particularly strong 
in tiie Americas and Continental 
Europe and also had a growing pres- 
ence m the Far EasL 

in comparison, has lim- 
ited business in the Arnicas but 
considerable strength in Britain, and 
a large presence in the Asia-Parific 
re^tm, the com^y said. 

Williams said it expected to re- 
ceive regulaiaiy cleareoce for the 
deal and overemne any possible 
monopoly concerns. 

“we cleariy have issues in that 
area where there is an overlap, bnt 
we are confident that we have solu- 
tions to tiiose Issues and we’re com- 


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ImmuiMMl Hnakl Tribune 


fbrtable tiiat we'll attiiieve a fair and 
totally accqmble settlement,” Mr. 
Carr said. 

The move is the latest by a di- 
versified industrial company seek^ 
to increase its appeal by focusing on 
businesses that complonem one an- 
other. Hanson PLC sou^ to shed its 
coDglomente image in January 1996 
by saying it would ^t into four 
p^Iicly traded companies in an ef- 
fort to boost shares. 

“ITiere are lots of synergies and 
benefits for Williams both geo- 
oaphically and product-wise,” said 
Tony Shepard, an analyst at Greig 
Kfiddleton. 

The combined company will have 
debt of £900 million. 

Sir Nigel Rudd, the Williams 
chainnan, rejected suggestions that 
the company could not afford the 
acquisiticas. (Bloomberg, Reuters) 


Very briefly; 

• VlAG AG's pretax profit rose 14 percent in 1996. to 2.4 
billion Deutsche mariu (SI .43 billion), as unusually cold 
weather increased energy sales and the diversified utiUt>' cut 
costs at its Bayemwerk AG unit. 

• Skandinaviska Enskilda Banken's net profit soared 86 
percent in 19^, to 4.69 billion kronor ($637 million), as 
market rates and lending losses declined. 

• Dresdner Bank AG said a banking syndicate it heads will 
lend S25 billion to RAO Gazprom, Russia’s largest com- 
pany and the world's biggest natural gas producer. 

• Eurotnnnel, the operator of the English Chaiuiel tunnel, 
said fourth-quarter sales rose about 3 percent. In Paris, the 
British-F^ch concern said sales rose 30 percent, to 1.07 
union French francs ($1885 million), but in London, it said 
they had dropped 24 percent, to £86 billion, largely because 
the pound rose 18 pemnt against the franc last year. 

• Jat^ves CalveC, Peugeot SA’s chairman, has made an offer 
to Prime Minister Alain Juppe to take over as chainnan of 
Credit Lyonnais SA, the French daily Liberation reported. 

• AO Meg^onneftegaz, a Siberian oil producer, could be the 
first of a group of 10 Russian companies to sell American 
depositary receipts through the Bank of New York, said a 
senior officid organizing the issue. 

• Axa-UAP, the world’s second-largest insurer, said com- 
bined 1996 revenue was 340. 1 billion French francs, as Axa's 
revenue rose and UAP’s fell. 

• Russian unemployineot rose to 6.9 million people, or 95 
percent of the work force, at the end of Janu^. from 6.8 
million in December, the State Statistics Committee said. 

• Lloyds TSB Group PLC, Britain's largest retail financial 

services group, reported a 52 percent increase in pretax profit 
in 1996,to:^.Sl billion (M.07 billion), but analysts said the 
figure was overstated and included lower-than-e.tpected pro- 
visions ^ bad debt . Bloomberg. AFP. Ptuien, AFX 


WORLD STOCK MARKETS 


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£07 £41 
49 49 

29 2X1 
I7J0 179 


IlfcaimliJrtL 

-am 

1336 

13400 

134(0 

BcBCBOnlM 

349 

3jn 

3455 

346 

Bwndeunti 

4770 

4540 

45(5 

47*5 

BCAtaM 

10 

126 

04 

1370 

Baaalta 

30500 

1*900 

2860 

201*5 

OadOeHeOara 

23*0 

2300 

sn 

236 

Edhen 


*49 

*410 

10000 

EM 

1*14 

*06 

f«e 

TOte 

sap 

£29 

5375 

SIN 

GwnBftata 

af» 

32S00 

asm 

32*9 

IMI 

1S77S 

une 

1S57S 

1SUD 

IMA 

2346 

2315 

SB 

ss 

7300 

liaon 

iSSta 

6510 

736 

4400 

722B 

400 

7275 

MeteeOata 

'fS 

1176 

TI95 

11135 

Stadodboa 

1370 

1275 

ISO 

PemdW 

2575 

260 

2485 

246 

Ptate 

390 

35a 

3570 

360 

RAS 

14300 

146B 

141(5 

16)6 

Bute Bong 

1709 

17500 

1776 

17000 

SPaaMTabw 

11S10 

1139 

1165 

117B 

Uet 

IS4S 

on 

1445 

065 

Ttenmnoe 

459 

4448 

4SD 

4(9 

TIM 

476 

4655 

4475 

4734 


Montreal 

OccMebCan 
canieA 
CdnUSA 
CTFMSvc 
GsMate 
DMiielUlactf- 
tnone - 
bNBdeaBrp 
UMowOn 
NoNBkQlMdD 
POMTOIP 
P oetafBrt 

SogmOnaB 
Rmiflkca 


9J0 9 

3455 24. re 
3T» art 
3U0 3U0 
1M 1630 

22)a zm 

30X6 3n> 
36X0 26X0 
17 17 

14X0 1£*B 
2055 30.10 
3406 2446 
2£10 MfO 
0 09 
a 5445 


MrthOBk 


NefrtondA 

KvoanwrAB 

ISIS; 

N*caoKdA 

0M6MBA 

tatataeSK 

SooorabaA 


102 106 
146 no 
9XD 36 
3460 a 
loia 103 
4U0 40 

345 330 

30 0 

210 2SS 
10S 1029 
541 514 

206 204 

in 114 


Hiyi Lne Oen Xroo. 

< 19 134 130JD 11456 

TowbcmOK 305 3*1 3*5 »6 

SientandAB 9 14*0 305D V.io 


BetaMdeB«79 

netaaB4779 


30nO 10756 
1775 1HD 
am S79 

said 5730 

■9 1740 

nos ion 
204(0 loon 
3005 SIS 
2BS »D 
S6» 3Sn 
090 0200 
44(0 4405 
249 2S7Q 
an SOSO 
03M 039 
129 1105 
34600 33600 
14» 140S 
279 3M0 

579 S6N 
1410 1360 

649 669 
3400 30 
1175 119 

1500 1460 


PSEM6b3B29 

OWilBMi. 111S32 

9 20X0 lOXO 2fX) 
a 9 9 9 

105 104 104 195 

139 13 13 uas 

124 134 US 126 

79 79 no 735 

11 )175 HL75 11 
4BX0 SB 49 39 

15*0 1500 159 15*0 

19 101 101 101 

79 79 79 79 


HertWii ITTi M 

An 449 44.10 
10J4 1*9 1441 
wm 3 d 9 309 
U9 VI9 119 
A9 4S9 449 
479 469 OAS 
249 849 249 
Tff9 14*9 1469 
*09 100JO 1019 
1£9 1554 159 


MIB T rti ltaui. 125149 
P iei lvm. 125079 


ram 

AGP 

AXUtade 

AkMAMh 

AID4JAP 

Beaeairv 

ore 

IMP 

CBOBina 

CorrMtaur 

Oakn 

07 

laortui 

OtaOenMa 

□T^OartoRv 

CiedOAotale 

Donene 

EMouOrtne 

ettidoBs 

EuWUNrtl 

CeAEetB 

Hewa 

io9aa 

Ltferga 

LtaVd 

LVMH 

LmEoui 

MUNOnB 

PamoiA 

ParmdRItad 

P eeoeaar 

PhnutPPrtrt 

Ihmiudu 


FtaPeutaEA 

Seaefl 

Sdnddv 

SEB 

SGSTimon 

SMOenota 

Sedadu 

srGeoehi 

Sub 

STidMebe 

TnatBunCSP 


CACXfe24l7X2 

PnWjLl410,n 

744 750 74* 

1949 19S9 miD 
*03 *9 *3* 

S77 W S71 

J729 3739 09 
405 715 725 

*30 *38 034 

315 237 23470 

1155 1144 1170 
3C7 359 3C2 
2449 34470 2479 
36470 277 0 

6*2 79 710 

95 679 on 

513 sn 534 
1370 1270 1276 
•65 674 as 

568 546 544 

*28 025 *9 

7X5 7X5 7X5 

7*2 m 
464 46470 
04* 656 

36410 36470 370 

*S *34 *45 

9010 203* 309 
1411 141* 1A4 

562 S64 575 

3N9 3419 3409 
4049 4BS9 4»4n 
714 3179 3139 
59 94 412 

349 2«5 800 
1645 1C7* 

I2T ȣ9 
1404 179 14*5 
167 1939 1069 
574 574 59 

39 30410 09 
10*4 10(7 119 

2*410 4049 4B 
660 476 

2746 S7* 2740 
•43 00 BO 

270 2» 37SJ0 

5*5 5** 5*7 

16*.I0 173 170 

44410 4659 46*9 
•39 84*0 639 
373 Z7I 36440 


EilcaaiB 

llBB Oa B 

licetawA 

liivartM B 

MbObB 

NadbenhM 

PlomlUplDlin 

SoaMEB^ 

ScsiUeB 

SCAB 

S^BoikenA 

SlenSelim 

SkanstsB 

5KFB 

SportaNhanA 
WadrtqrpoMsA 
Sion A 
SvHoirttaA 
VehnB 

Sydney 

Aiwa 

ANZBLkp 

BHP 

Beiel 

DiuiWtatnd- 

CBA 

OCAiwrtl 

CMwMyv 

Cemaka 

CRA 

SB 

PostenBiew 

GenProeTnat 

GIOAijmitta 

GeedmaeRd 

(QAaotafe 

JehnRrtta 

LeadLeese 

MqmoNIdta 

NMMllcta 

NMAaOwk 

NuIMvhwIHdo 

New* Carp 

NamnrtMii 

Now 19 

PadOcOuidep 

Pbneaiidl 

MOnadna 

tantaAbwB** 

Soadas 

SeutiCBap 

VtaSeneei* 

WMC 

MMMdTlvrt 

MM*wBkloe 

WooMdePei 


Hiyi Law Oase Pm. 

250 244 2459 247 

1057 IDS 1025 10 

SB 530 533 535 

36 33* 3« 3419 

29 234 224 336 

Z3S 0 233 2299 

279 0 277 2719 

1969 192 (929 1979 

1949 1949 196 1959 

170 165 19 165 

73 709 719 769 
213 2049 207X0 3049 
311 307 310 310 

1B9 187 1679 1K7 

120 114 120 1149 

190 167 190 1669 

104 101 102 IB 

194 in 193 190 

163 179 179 100X0 


SaoPmilo Taipei 


BwtaaPFd 99 9.10 9X0 9.T0 

Biehaa Ptd 76X0 7AOO 76X0 7359 

' ~ " 6.10 6X0 9.10 469 

419 4160 429 519 
159 149 159 142S 

4679 4559 4S79 629 

ItabuncePW SHLB 5449 5059 5409 

Ssrteta <159 3*59 3949 

3409 3109 310.10 3349 
moBwPW 09 2349 2289 2229 

TefeMoiPfd 100X0 1009 1009 1009 

1459 TS39 T5X9 (409 
14S9 1459 1459 1449 
303X9 959 2999 3059 
409 409 409 4051 
27.10 14X9 S.10 2450 


CaWflPfd 

«PPM 


Ttann 

Talon 
TaMwPH 
UfltaKB 
eVROPM 


□oenn 

DeaweaHeov* 

naMoaes 

KanaBPvir 

Kane Star 64 

taWMOOTN 

LBSenNcoi 

Pehnlnna 

StaaunaElK 

StdrdaiB^ 


1200N 12309 134600 

saa 5190 sew 

1529 U300 1559 
2799 BI9 2 019 
7CJ9 775* TSP 
53009 54109 54409 
2159 2279 7119 
Bin 4409 689 
5*09 5*59 5*000 
1079 199 10700 


Singapore **135^ 


Piertwciosua 


6X0 6 

549 J4U 
32rt sue 
31X0 31M 
146 14XS 
2m 2R4 
3£45 39.10 
ttn 3in 

17 17 

15X5 1410 
VX WS 
2M 2446 
3£« 2£10 
8X0 an 

£(rt S4U 


«XMdR59M0 

PrtvMoesSBXa 


1619 1S1 

169 1439 
2410 2&70 
309 99 
1049 1019 
439 489 
36 36 

360 341 

29 265 

104 1019 
0 5049 
264 ITS 
117 115 


Alb Poe Bm 

CanboePec 

07M 


FaEe*rixi*v 
PiasaANeew 
HKLond* 
jonuMhesi 
JardShoM^ 
Kamel 
KnelBA 
OCSctHcta 
Of UnlaaBLP 
PariMWHdB 
S tudiiMu ng 
Sk^AIrlDralon 
SMgLBid 
SMoPnaF 
SInSTeAM 
TaMeomn 

KSMta 

T«LMSonK 

iMin«rnw 

uwofeoHF 

wieeToiHdB 

•:UUS.ia^ 


U6 £10 
109 109 
146 159 
146 14X0 
09 OXt 
8&n 19X0 
415 ft 
Its 438 

139 1X6 
2.93 8X3 

41S 5X5 
36 3Jt 
11.10 109 
«38 4M 
199 199 
119 119 
408 59 

19 89 
119 139 
9M 1X5 
son 79 
3X4 3X4 
3X4 3X6 
59 £10 

£70 £64 
IX< M8 
179 1470 
4X2 49 


£30 8 

1420 1070 
159 1410 
IS9 1480 
078 079 

son 199 
410 4X5 

49 57V 
1X6 119 
39 29 

in 4 
39 3X8 

ion n 

49 433 
199 199 
119 119 
6 £95 
8X5 £35 
U5D 1£SD 
9 09 

3010 29.10 
3X2 3X4 

39 £6 
£10 5X0 

39 39 
19 19 
179 1470 
4J6 454 


CoBierUielw 
OlBIrtHMBk 
OrieeTunG Bk 
OUne Develpia 
esunaSM 
FMBo* 
ntmanePtaeOc 
HuaNoaBk 
bdlCMnnBk 
Nen'rePWta 
sroiKe 
TWWb 
Tahme 
UtdMDoElec 
UtdVIiawChln 

Tokyo 

ApameM 

Alin»n«r 

ASflhiiadi 

AaOdOion 

lAwWChia 

BkTannMhn 

•kYOkahoM 

BHdBulBHB 

cant 

OMbuEMc 

OwaeftvEta 

DWNtaPlW 

DuH^Kanp 

DstwaBa* 

DoMaHouK 

OahHeSee 

DDI 

D6nse 

EartJBpenRir 

EMM 

Fenue 

PuDBenk 


Stockholm 


AGAB 2fS 

ABBA *20 V9 911 *18 

AMCW 1899 165 18*9 

mSoA 3409 3B »9 35^ 

MtaCepoA 12 12 12 

AaUt SI 3b oS 

455 65 46 453 


MtaA 3« 

AltaCepcBA 17- 
AaW»r 
EMonfeaB 


Hootadu 

Hteeu 

Hando Meter 

IBJ 

Heoni 

nu'YuadB 

JAL 

JtaoiTebBeea 

JlWD 

lUhia 

iMElec 

KOD 

KPtaaoUKvy 

K» WB Steal 

KHONlnR* 

IOMBli»i«^ 

Kobe Steel 

Komotn 

Knbeto 

Ktreeara 

KmhuEIIC 

LTCB 

ManttU 

Mand 

Mata Elec liM 

MataEteeWk 

MHtt(Shl_ 

MBMhiiidCh 

MBaubUiiEi 

MnautaMEtt 

MBwSdHw 

MBMMMMS 

MNwMMTr 


Pi ert uuo 31*46 

89 £35 6X7 66 

£6 £31 631 tn 

1£17 17X5 17.VS 119 
142 155 39 19 

22X1 229 2145 229 
149 1£75 11*0 11*3 
1144 (£9 T39 139 
5X4 £14 417 £30 

495 464 466 465 

19.11 16X0 1476 19X9 
443 457 459 49 

149 2X7 147 29 

39 £45 145 29 

39 £55 £9 19 

1X7 1X4 1X5 1X7 

13 129 1245 >2*8 
£09 39 3X3 £10 

21X4 23 2110 23 

7X0 79 7X5 79 

19 19 19 19 

1470 146 1454 149 
29 19 19 1X4 

474 69 444 471 

i.n 19 1X0 1X1 

4X2 417 417 427 

£14 £0* £15 £13 

4 1X7 19* in 

4*2 49 49 46ft 

26 £35 2X4 £6 

492 4X4 476 49 

450 444 445 4<7 

ion 9.95 10 9X7 

£21 £12 £12 £19 

2X5 26 £4( 24ft 

79 7X5 7X5 79 

9X7 9.12 9.12 9X4 

39 135 3X5 137 

SteA Mo66 Mdta 769X1 
Piaitoues 75359 

IlD 17ft 17ft 178 
171 19 19 170 

9 9 6450 6550 

10150 99 100 1019 

259 259 2U 259 
179 I7ft 174 178 

71 6 70 d£9 

16 16 16 1439 

849 83 63 819 

a ft49 9 6 

114 112 112 114 

41 409 41 419 

54 529 5L9 99 
419 3*9 3*.n 4BXD 
71 70 70 70 


Nirtaim 167229 

PiarteealMOUft 

1000 ion ion 

785 607 791 

012 813 

46 432 

1870 1l» 1070 

lan 1900 1910 

570 5*4 570 

229 2300 BM 

2730 279 379 
3010 TON 2010 
2000 3600 2000 

199 19n 1970 
1250 129 129 

SB 514 501 

139 139 1370 
fU 929 ni 
HOOe 7410* WBOe 
259 34N 3SSD 
4936a 49S0e 5000 b 
239 239 239 

3730 3770 3800 
129 139 129 

4090 4230 4120 
126 136 136 
ISO 106 106 
119 119 119 

366 369 366 

13*0 1410 160 
581 5BS 590 
S9N 5Sn 579 
SOI SOS SOI 
I9S0U 7990a SilOO 
3470 3500 3510 
09 TBS m 
209 309 209 
ISn 12*0 1300 
484 63 498 

3)4 333 3)4 

720 724 724 

1030 109 109 
306 216 207 

857 864 OeS 

S3S S36 StS 
7170 73N 7170 
2030 206 206 
388 390 38$ 

02 4H & 
1720 179 1760 
199 199 1^ 
999 1000 1030 
1100 1128 1110 
327 333 325 

4B 7IS M 
136 1378 1320 
8*2 8M 907 
*08 *1* 8*0 
129 1300 1270 


The Trib Index 

pn^smetz-ooPM New Yemane. 

jteaf. fsie» 7 oa 

iMl 

Ctana* 

Kteranga 

year to data 
%ctraeiBa 

•l• 16.^4 

Mftsrftl IndBX 

153.29 

-tO .03 

4 O.OZ 

Ragionte hwiea— 

AaaA^dllc 

111.00 

40.44 

40.40 

- 17.32 

Europe 

162.14 

40.37 

4023 

•hi 6.50 

N. Amenta 

179.68 

■ 0.70 

- 4.39 

440-06 

S. America 

InduaUW Indtaes 

139.48 

- 0.39 

-^2B 

•h 56.65 

CBpAB/ 0 Oa 3 b 

179 X 17 

- 1.47 

-OKI 

434.76 

Consumer goods 

174.71 

4 a 70 

40.40 

426.64 

Energy 

160.07 

• 0.67 

- 0 J 7 

43 Z. 7 B 

Finance 

111.49 

40.39 

40.35 

- 12.37 

MtaceMansous 

159.93 

- 1.16 

- 0 . 7 Z 

+ 17.76 

RawMateride 

184.35 

41.20 

40.66 

43 aoi 

Safviae 

142.73 

- 0.43 

- 0.30 

+ 13.94 

Utmea 

133.46 

■ 0.21 

- 0.16 

+ 4.97 

TTwtaprrwfllBtielHemldTrtanP P/one SMtOdmOntSalhB US. Ootarmimol 
X 80 maraOtonaiy enraeaeaip tepets lion E 5 cowodeu. Rw /mm eUrtnnaoaa a ihee 
Oeekta te «ww 8 Or trtiCIrip to Tta 7(6 ftirtab ( 9 ( Xtwiup Chertee de 6 aulA 
sesZlAtou^rCMtacFiwm. ConpeedbrSloeiriigigNBm. 


Hisk Low 


Mn»tTra0 

Mateo ftWB 

NEC 

Nlkoi 

NUeSec 

MtemdU 

wppEtaes 

rappoioo 

Nlp^siea 

NBOon Mater 

NKR 

NoduibSoc 

NTT 

NTTDeW 

opPioa 

OedaCoft 

Wceli 

Rteim 

SekuraBk 

Senk*D 

SaiunBonk 

Sai*oCrtc 

Secom 

SdbvNwy 


eift 

*05 

*11 

905 

13B 

1230 

1280 

1230 

713 

703 

712 

700 

610 

600 

4280 

A5D 

14(0 

160 

160 

1450 

ion 

176 

18(0 

1750 

704 

(9 

7B2 

<75 

IB20 

am 

6300 

806 


726 

79 

715 


65 

31ft 

sm 

33Z 

500 

30* 


70ft 

793 

795 

mJim 

251 

20 * 

251 

1 MD 

isn 

1(9 

1610 


Sekfsiil Heise lOB 109 

Sevei'EMvcn 779 759 

Sharp 149 149 

SMkekuBPwr 2000 199 

SMr>«tairOi 349 260 

ShtaeluBk 106 loio 

SononK 1169 1009 

Sen* «-.««« 

Svmltotne 
SwefletiMBk 
Svnd(Chan 
SunteenoElK 
SemllMetel 
Soldi Tmrt 


TWiteOa* 

TakteMalae 

TUkfaeiPwr 

Tokyo lleaiai 

Teltaw 

Tte^Cop. 

TOn 

TeppoRPibd 

Teieylnd 

TaMbe 

Toteen 

TeyoTna 

Tbyeto Moa 

YBmane u Ori 

ejr/4l»A'466te 


*049 OBOOe 8059 8720 b 
3160030(090 3159 3129 
<78 (9 69 576 

2*6 29 292 29 

1520 1490 159 1510 
909 909 909 919 
407 675 603 69 

35*0 34*0 359 369 
139 129 199 U90 
S9 4*7 503 503 

6810 <79 6750 679 
469 44*0 459 469 


*19 

909 

(09 

flBX 

9070 

flflA 

VtD 

ISO 

VR 

1300 

DM 

1330 

VW 

1300 

468 

45» 

4(3 

465 

1710 

i«eo 

179 

1680 

2*1 

774 

*47 

389 

275 

*58 

*47 

955 

29» 

269 

2890 

28(0 

27N 

269 

3570 

2700 

6500 

8310 

■nn 

0500 

len 

1*50 

9)2 

I9M 

1*9 

*30 

930 

916 

1110 

109 

109 

119 

2K0 

2IS 

219 

219 

69 

4410 

459 

43*0 

303 

54ft 

2*7 

535 

m 

301 

536 

12(0 

1310 

ino 

126 

160 

isn 

160 

160 

76 

717 

717 

73* 

711 

72* 

7S 

715 

266 

27*0 

286 

2870 

79 

76 

76 

76 

360 

3410 

346 

3410 

256 

2470 

3490 

249 


Toronto 


Aomdpiice 
AteertaEneiBr 
Mean Alum 
AitemonEai 
BkMHWnl 
BKNenSeteia 
BoirtckCold 
BCE 
BCTelecDimn 
BtodmPiwa 


BnecoiA 
BitaMioeites 
CeaiecB 

CdnNtelReh 
CdnNdRw 
CdnOocMPel 
OinPaclK 
CamOKo 
DteOKO 
DeiMar 
DenohueA 
DuPOdCBA 
EdpaGmup 
EinoNevSuig 
FoMaPM 
FolcanbiMgi 
n e w ieiChteiA 
Ron Nendo 
GuMCdolta 
impafieioi 
im 
iPL 

itedtai 

LoewnGiaup 


TSEiaduaMtemdSesJ* 
Piertota 6215X0 

22 22 22U 

31 31X0 31.9 
ria Art 47X0 46X0 
IS 16X5 17 17 

U 6X5 6.90 S£20 
30 S2X5 S2M 53 
>rt 3£6 3£10 36X5 
M 71X0 716 71X0 
son sort 30X0 
78 79X5 79X5 
55 354B 2US 2516 
70 3£6 30X0 30X0 
55 22.10 2190 24X5 
IK S3 S3 5115 
9 45X0 45X0 46X5 
S3 51X0 SI4i S3rt 
95 3U0 34 34rt 

20 3SJ5 24.10 24.10 
36 346S 3115 35X5 
M 3£I5 X£IS sort 
» 24rt 24X0 2XBS 
90 11X5 11.96 11X5 
m 2£9 26.10 2416 

70 Srt art 32X5 
tt 2)X5 21.S 21X5 
30 30X5 38 

*9 398U 399 SSBM 

78 3630 3635 30X5 
a 22rt 22.15 
59 S£f0 
1£n 10X5 
Irt 6C15 64X0 64rt 
» OX axo 47X0 
41.4655 40X5 40X0 
N lIXS 1£30 1£10 
Nk 46X5 6JD 4m 
W 10X5 1£10 1£05 
75 72M . 75 72rt 


AMWOW 

Moore 

N t tatteU L Net 
NeraedDlic 

NmoiEneigv 
Nihem TekCDin 
Neve 
Om 

RBtcdnPettP 
Petra Cdo 
PtoeaDome 

PeaPellni 

Poteafi ftsk 

RonlaaaKe 

RleAl9ii| 

Regan CaiMB 

SHOranCD 

siSCdoA 

Stone Ceneld 

Simea 

TBOsmen E6 

TMrB 

TteeglDbe 

Teiu* 

Tbonsen 

TWOomBonk 

TraKana 

TiensCdoPlpe 

TihnarkPIM 

TitacHodin 

TVXCeld 

W hImm i Eny 

WestM 


Vienna 


14 1420 
2*rt 30 
449 4SXS 
32X5 12J0 
3610 3610 
101 101J0 
1190 13 

21)5 3£15 
5460 5470 
20rt 20X5 
3£10 26X5 
1415 14X0 
IKIO M£35 
44rt 44X0 
au 32X0 
25rt 2Srt 
55*4 55rt 
55U 54 

» 2irt 
59 S9.7D 
46X0 44X0 

sort sort 

41X5 41XS 
2120 219 
28 2&1S 

»9 axs 

16rt 1&SS 
25X5 25rt 
6 4*rt 

a a 
10X0 1£7D 
349 2490 
74X5 7420 


AIXrtdK 12139 

PiivlaiK: 1112X3 


743 755X0 
89 snxo 
470 675 

61 61 
349 3405 
179 1739 

564 566 


622 

6X1 

617 

615 

13*7.n 

139 

13B41394.n 

95 

8950 

6729 8729 

415 

410 

63 

49 

449X0 

446 

449 

46 

1817 

1771 

109 

in4 

219 

21 a 

216 

*16 

149 

160 

146 

146 


BBAG 765 79 

BeeWa-Uddafi 8tf 0219 

BnU'UnGeee 675 465 

CradlknnPld 43420 417.10 

EA-General 3 m 0 365 

EVH 1750 1716 

RughofanWIen 570 5599 


OtaEWdrte 
Badaltae 
VA State 
VATedi 


Wellington NzsE^Mmu 

PRVtaes 2339.15 

AIrNZetedB 161 39 161 19 

Brlei1yln*> UT 1X4 1X6 19 

CortaHallard £9 39 £29 39 

FWdiChBldg 4X4 49 49 4X5 

FMchQiEnr 4.11 40* 4X9 410 

PleidiQinnt 2.17 2.11 2.11 115 

PMchOiPopa 3X6 2X3 2X3 2X2 

JanAleihai 2X3 £40 19 160 

TteeamNZ • 79 £91 6X1 7X3 

WtsanHsrtM 119 119 119 119 


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INTEXffUIlONAL HEI^^ TKEBUNE, SATUIUMy-SUinXiy, JPEBRUAHY 15-16, 1997 

ASIA/PACIFIC 


B4GE13 


Jakarta Pressures 
Canadian Companies 

To Make Gold Deal 


Cu>riM Iv Ow omKhu 

— The Indonesian 
govemmeiu warned two Canadian 
mining companies ftiday toa^ 
OT teims fiOT develc^ing a large l^d 
*^by Monday or risk l^fSe 

Jakarta gave the Canada-based 
mming^pi^es Bre-X Minerals 
Jli?- Bimck Gold Corp. until 
Je emd^ the weekend tostrike a 
deal wifli their Indonesian partners 
sharing and other terms 

^ines and Energy Minister L B. 
oudjana warned that the bovcid- 
meni would open the gold depoat’s 
»velMHnent u> international bid- 
ding if an agreement was not an- 
noimced by Monday. 

. ‘ everything that has 

J*®? ™s^>issed'’ witti the muustiy 
will be ruled out and we will 
a new tender, 'he said after meetinB 
Preadent Suharto. 

based in Calgary, Alberta, 
found the Busang fieW, one of the 
world’s biggest gold deposits, but 
was f orced by Indonesia test year to 
jonn a joint venture with Tonmto- 
based Barrick, the world’s No. 3 
gold producer and Canada's latest 
mining company. 

Under terms proposed Indone- 

sia, Barrick would get 6S peront of 
the ventiue and Bie-X just 2S per- 
cent, while the govemmeot would 
get the remaining 10 percent. 

The field, in east Kalimantan on 
the Indonesian side of Borneo, is 
believed to contain ^ million to 1 00 
million ounces of gold 
Mr. Sudjana had said previously 


that Bie-X mi^ agree to an equi^ 
^^tnKdtip with Barrick as a con- 
(hnon of b^g granted a woric permit 
to develop a mine there. The penzut, 
which requires Mr. Suharto's dg- 
natore, not yet been issued. 

&e-X indicaiied late last year that 
it wanted Mr. Suharto to open up 
bidding for die d^wait, letting the 
company try to negotiate a d *^ l 
without fear of losing its entire 
stake. 

Pteoer Dome Inc., the No. 2 Ca- 
ziadiffii minmg company af^ Bar- 
ride, entered me. dispute in January 
by offering to buy Bro-X ibr 54 J 
billion. It jMoposed a deal that would 
give die goveninient and Bre-X's 
Indonesian partners 40 peroent of 
the Busang field 
The prc^iosal calls for braiding a 
mine and processing plant on 
Borneo at a cost of about 52.7 bil- 
lion, widi production to lieein in 
1999. 

But a news leport Friday quoted 
unidentified sources close to me ne- 
gotiations as saying the UB. mining 
giant Freeport-McMdRrai Copper 
and Gold 2nc. has uneiqiecteoly. 
emerged as Bre-X’s partner in tire 
venture. A Zreqioit spokesmam, ^ 
Pressman, in Jakarta refosed to con- 
fbm or d»Qr the n^Ki^ 

-Freqirat, based in New Orleans,' 
operates a large gold and copper 
mine in Indooeaa’s easternmost 
province of Mao -J^a on New 
Guinea. 

Banick, which onl^f entered the 
gdd business in 1983, is already the' 
world’s most profitable producer.' 

(AFP. Bloomberg. AP) 


Talks on Mine Sale 
Falter in Australia 


h 0)r ASfAin 

CANBERRA — The future of an Australian anc mine 
that has been valued at 1 biUion Australian dollars ($771 
million) and is potentially the wo^’s largest zinc mine 
was under threat Friday after negotiations between the 
mine owner, R12-CRA, ab^gine representatives 
collapsed 

A^ted if die outback Queensland mine would go 
ahead, Rob Borbidge. the prime minister of Queendand 
said, “I wouldn't hold my teeath." 

”We obviously are disappointed that the negotiations 
did not produce a r^c,” said aspokesman forOntuiy 
2^ Ltd., a subsidiaiy of RIZ-CRA. 

The company had to ft»ge 30 agreeznein' 

aboriginal groups by midm^t Thui^y, bk withdrew a 
60 imUion dollar employineDt and comprasation package 
when only four of the 12 groups darning a ri^ to the 
land would sign the agreraxtent. 

A landmark court ruling in .1992 determined that 
aborigines might still have rights to their traditional lands. 
The legislative fiamewoik set up to regulate native en- 
titlements gives aborigiiies die ri^t to negotiate over 
development. 

If an agreement on Century is not reached in the next 
few days, the issue will move to the Native Tide IVibu^ 
wltich can tdee up to six months to forge a binding 
agreeaneot. 

Another court decidon in December widened die cladi 
benveen aborigmes ’ native titte arid priinuy fnoducerS 
ruling — contrary to previous assumptions — drat al^ 
origines still had rights even when a lease had been 
granted over the lanoT 

Prime Minister John Howard of Australia on Eiday 
met groups arguing for and against moves Parliament 

to neutraliu the latest ruling. 

Fanners and otiters gem^y warn Parliament to ab- 
fiiuh native title for land covered by a lease, but others just 
want a definition aborigines are entitled xa 

The latest brededown in tiQks delays RTZ-CRA's 
piannivi 343 milUoD dollar sale of Centu^ Zhte and the 
nearby Dugald River lead-zinc depodt to Pasminco Ltd., 

an Australirat base inei^ tiuner. That was conditional on 

agreement widi aboriginal groups. 

' 'Ftonkly 1 think it was a definmg moment,’ ' said Greg 
Watttf, RTZ-CRA’s Queensland external afiaiis man- 
ager, referring to die deadline. “People have known for a 
long time that was the time fiume and if you didn't have 
an agreement you moved oh.” (Reuters, Bloomberg) 


No Delay on Liquor-Duty Cuts 

WTO Tells Tokyo to Narrow Tax Gap in 1 Year 


Sloombergi^’s. 

TOKYO — The Worid Trade 
Organization has asked J^ran to 
narrow the giq> between taxes on 
domestiMlly produced liquras and 
ioqxBted ones by Feb. 1, 1998. a 
Rnance hfinistiy ofiicial srad on 
l^day.. 

To comply widi the ruling, Ja- 
pan must move tq> ite schediiie for 
rrasing taxes on the domestic si»rit 
shochu and cutting l^es on such 
impoited liquors as cognac, Scotch 
wfaisl^ and MurboQ. 

A sooior Finance Ministry of- 
ficial said Tokyo would comply. 

Sham o^akaia Shuzo Co., the 
top shodni. distiller, closed down 
16 yen at 707 (55.68), amid un- 
confiimed reports of the WTO de- 
cision- The Fmance Ministry with- 
held comment until after trading 
ended in Tokyo. Shocbii, whitt 
makes iro.about? percemof die 10 
million kiloliters (2.63 billirai gal- 
lons) of alcohol shipped in Japan 
each year, accounts ^ about a 
third of Takara Sbnzo’s sales. 

Speeding up the tax r^orm 
could cause of shochu 

makers to come in much lower 
than expected in toe year to Maiib 
1999, said Mizoho Kadota of Leh- 
man Brodiers Japan Ihc. 

“After an initial shock, demand 
should recover,” riie said. “Sothe 
loog-tenn ingnet on the indusoy is 
minimaL” 

Other leading J^ianese shochu 
makers include Yomeisbu Seizo 
Co., whose stock fell 1 1 yen to 
830. Godo ^usei Co., whose 
riiaies were unchanged at 410 yen, 
and Merciao Coip., nbose stodc 
rose 4 yen to 709. 

The WTO ruled last year that the 


Japanese tax . system unfairly 
himteied sales of imported spirits 
and encouraged Japanese to buy 
shochu. It made tibe decision in 
response to conqilaints fiom the 


and 

The Geneva-based global trade 
body ordered Jiqian to ne^itiate 
liquor tax rates with the two com- 
plaining parties. Its ruling allows 
the IteitM States to impose pu- 
nitive sanctions against Japan if 
foe two countries fail to reach an 
agreement and Japan fails to in- 

Asahi Beats Kirin 
As Top Beer Seller 

Bloomberg Sews 

TOKYO — Aksahi Breweries 
Ltd. has surpassed Kirin Brewery 
Co. Ltd. as Jiqian’s top beer seller 
by volume for foe first time in 44 
years, foe companies said I^day. 

As^ Breweries, Japan’s 
second-largest brewer with noore 
than 30 percem of the domestic 
matfc^ shipped 35 percent more 
beer in January ftan In foe same 
moDib a year bffore on foe strength 
of strong sales of Asahi Super £^, 
which surpassed Kirm Lager in 
June as Jinan’s top selUng beer. 

Asahi shipp^ 10301 million 
cases of beer, including 8.4 mil- 
lion cases of Super Dry. IGiin 
shipped 9.996 million cases, a de- 
cline of 11.6 percent compared 
with January last year. 

Asahi shares closed unebao^ 
at I, no yen (58.92) Friday, while 
Kirin shares closed down 30 yen, 
at 1,030 yen. 


crease taxes by early next year. 

Washington rejected a Japanese 
proposal last month lo raise taxes 
on shochu over a four-year period 
beginning in October. 

Jman and the European Union 
reached an agreement this monfo 
in which Tol^o pledged to narrow 
the tax differential between do- 
mestic and imported liquors in two 
stages, with the first coming OcL 1 
raid die second ayear later. Un^ 
foe plan, the fofferential for such 
"brown” ^iiits as whiskey and 
c^nac would fall to 3 percent from 
600 percent, while the (fifferentUI 
on clear liquor^ such as gjn and 
vodka, would dirappear entirely. 

But tile EU agreemenc also 
called for the final tax increase on 
shochu to come in 2001 . 

The accord would have cut re- 
duced tariffs on European whiskey 
and brandy, saving the whiskey 
indusby about 5110 millicHi and 
brandy makers about $49 nullion 
from 1998 to 2002. Japan is the 
second-largest export market for 
U.S. and European whiskey 
makers. 

U.S. companies sell $100 mil- 
lion worth of roirits to Japanese 
consumers each year. European 
companies including Guinness 
PLC, Grand Metropolitan PLC 
and Allied Domecq PLC sell a 
total of about £119.5 million 
($193.8 million) worth of Scotch 
whisl^ a year in Japan. 

The J^ianese liquor maiket is 
worth about $253 billion a year, 
according to Euromonitor, a mar- 
ket research firm. Imports account 
for only about 8 perc^ compared 
whh 35 percent in foe United States 
and 30 percent in Gensany. . 


Investor's Asia 


Hmg Kpitg- V angapom' V':.. 

HangS^ 



s D XT' 

1996 1997 


' S^ N 


Exchra^'''\ 

HoagKoag.,' 

• index • 

.■HBRsrSenQ. ; 

"CiQSBr: . Ctoss Chte^ 

atrvBpote 

SrateTImto 









' -1^10 -0S7 

Bawigtelr . 

SET 

7SM S8B.06 4&21 

Seoul. 

Corappee 

• 72149 • ;71&71 : 40,60 

'Mpel 

stock Maifate Index 7«499^ • 7,53^ -0.4d| 

llanite . 

PSB. 

. tgggSD 3,335.73 -OLdO 


EiiglEBESI 

■79M8 ■ 707.37 .-OJ41 

WtfhigiQir 

UZS&4Q 

.3^38843 2,339.15 -068 


Sansl^ Index 

3iS21.9» 3,492:65 -tO.84 

Somee: Ttoteters 


ImeraMkHiil HenU Tnl<unc 

Very briefly; 


• Hong Kong's average residential real-estate prices will rise 
about 15 percent to 20 percent by Febniaiy 1998, said Peter 
Churchoute, managing director at Morgan Stanley Asia Ltd. 

• Endang Mokodompit, the top shareholder in Singapore's 
Auric Pacific Group Ltd. is in talks to sell her 24.92 percent 
stake in the company to Indonesia’s Lippo Group for about 
763 million Singapore dollars ($53.9 xnUlion). 

• Chiba Shinkin Bank and Ryoso Shinkin Bank will merge 
in Febnia^ 1998 to become the largest credit association in 
Cfoiba jnei^ture. 

• Ginaifiar Kartasasmita, Indonesia’s planning nunister, 
said IiKtonesia’s economic growth was expected to have 
slowed to 73 percent to 8 percent in 1 996, compared with 8.07 
percent in 1995. 

• KDD America In^ foe U.S. subsidiary of the JapaneK 
teleffoone company Kokusai Denshin Denwa, plans to begin 
telephone services between the United States and countries 

other than Japan. Brid^ News, Reuters. Bloaitd)erg 


Asahi Bank to Pay $5 Million U.S, Fine 


CmflUtyOwSiqfFitmDiipaelia 

TOKYO — Asahi Bank Ltd. said 
Eiday that foe Federal Reserve System 
had fined it $5 million, charging that 
officers of its New York branch bad 
misled bank examiners and raigaged in 
misuse of confidential documents. 

The Japanese bank admitted to the 
allegations but said that the rix officers 
involved had not sought to conceal 
losses or any illegal transactions or 
activities. The bank said it had removed 
the officers from their positiems and 
overhauled foe branch's managemenL 

Asahi said tlte fine would not affect 1(5 
commitmeni to U.S. (iterations. 

' ' * ‘We wall mainiain ourbusiness in foe 
liiuted States,” a bank official said. 

Asahi had total assets txf 2SB5 trillion 
yen ($232.72 billion) as of September. 

President Shigehiko Yostuno signed a 
fixmal cease-and-desist order and an or- 
der of assessment for foe fine. The geoeral 
maiuser of tiie.New York branch, Kat- 
srani Sakai, alto signed dte docontesus. 

“Both orders were issued for mis- 
conduct by certain officers of the New 


York branch retel^ to foe allegeil mis- 
use of confidraitial supervisoiy infor- 
mation, to the making of allege^ false 
statements to bank snperrisozy omcials, 
and to foe alle^ obstructuxt of a formal 
investigatiem by bank supervisoEiy of- 
fidals,” foe Fed saicL 

The bank also a^eed to train its U.S. 
perscomel “in ethics and the United 
States bank siqiervisory process,” in- 
cluding “the necesst^ for candor in aJU 
communications with bank super- 
visors.” acccxding to the legal order. 

Asain said it had confinned foe find- 
ings of the Fed’s investigatimi forou^ 
its own inquiry, which it cemducted wifo 
the help m le^ advisers and foe ac- 
counting firm Price Waterhouse & Co. 

The bank stated foatitfaad incurred no 
Icisses in foe case otiier than the payment 
of the fine. 

Asahi shares fell I yen on Friday to 
812 in Toikyo. 

hfr. Yodiino told tiie Kyodo news 
a^ncy inNovemberthat bankemidoyees 
l^ap;ned a sealed Fed inspect] on r^)Of1 
residing Asahi and that be was- aware 


tiiat foe bank might face penalties. The 
Fed had re po rt ed the incident to a VS. 
District Court the Kyodo report said. 

A senior Finance Minisoy official 
said then foat tite mtni^ would con- 
sider what course of action to take aft^ 
U.S. authorities completed their inves- 
tigation. (AFP, Bloomberg . Reuters) 

■ Fool to GWeKizn 1 Trillion Yen 

Deposit Insurance Ccop., which pools 
funds firmn Jiqianeto banks and thrifts for 
banking enieigeocies. said Friday that it 
would give 1 .03 trillion yen to Kizu Cred- 
it Cktopraative, foe giant tiuift foat failed 
in 1995, Bloomberg news reported 

The sum would cover all' of Kizu’s 
bad loans, most of which were linked to 
real estate investment during foe late- 
1980s, plus additional costs incurred in 
the Osaka-based thrift’s closure. 

Under ihe pls^ Sattwa Bank Ltd will 
extend 300 Ixllioa yen in low-interest 
loans durii^ the next 10 years to a special 
bank set up to di^ose of bad loans. The 
Bank of Jipan will lend 500 btUkai yen to 
foe Deposit Insurance Corp. 


GLOBAL TARGET FUND MANAGEMENT 

(LUXEMBOURG) SA. 

R.C Luxembourg N” B 30 998 
Registered Office: 
17,Coted'Bch 
L-1450 UJXEMBOURG 


Notice of Uqnidatiion of Globa) Tai^t Fimd 

Unitholders an- informed that. Global Target Find has 
been put into b'quidfltioa as of January lOtb, 1997., lasuance 
and redemption of Unhs as well as calculation of the net asset 
value per Umt, have been sn^>ezued with effect from the same 
date. 

Foltowiog the liquidation mtiHsedure, net Equidation proceeds 
have been psud to the UnitKoldeTS in proporeon to the nombtr 


of Unhs b^ Iw each of dtem. No amount baa been deposited 
in escrow with foe (^aisse deg Contignations in lAnembouigi 

The accounts and the records of Global Target Fund will be 
deposited and for a period of five years at the i^ces of 
Boaque Pictet (Luxembourg) SuL 17, Cote d’Elcb, L-MSO 
Luxmabouig.' 

Hie Board of IMrectors of Global TaiweC 


Manila Deficit Narrows in December 


Bbomberg News 

■ MANEA — The Phil^ 
pines' trade deficit shrank for 
the second strai^t monfo in 
December due to what econ- 
omists dismissed as 
“scheduling Mips” in im- 
ports of telecommunicatioitt 
and tnn^iort equipment; ac- 
confing to government data 
released Iriday. 

Tlie Natkmal Statistics Of- 
fice said foe deficit nanowed 
12 peiceDt freon a year ago to 
$8^ million in Dtoembv. 

The full-year trade deficit 
was calculated at a record 
SI 1.786 biUioD, up 29.6 per- 
cent from 1S19S. ccoDcraists 
bad exposed die deficit to be 


to mudi to $123 IriOkm. 

Imports grew by a slowcr- 
than-expected 21 .8 percent in 
1996 to $323 bulion on 
steckeoing ponfoases of tele- 
communications equipment 
in November and a dre^ in 
tzanspoit equipmratt imports 
in December. 

Richard Supangan. econo- 
mist for foe University of Afda 
and foe Pacific, said imports 
in these products were lower 
01 ^ beraoise cMf tempraaxy 
blips in the purchase of these 
capital equ^aenL He said he 
expected tire orders for tiiese 
goo^ to be jdaced and filled 
fois year, re^tii^ in an even 
widra trade deficit 


“We are still expecting foe 
trade deficit to balloon to 
about SIS billion this year,” 
he said. “But this is not a 
cause for concern because 
these imports are needed to 
inraease production and ef- 
ficiency.” 

The government and 
private economists agree foat 
a wider trade deficit is in- 
evitable as several major in- 
dustries invest in new equip- 
ment to expand capacity. 

Inqiorted capita] goods, 
SQcb as teiecommtaucadoDS 
equqnnent and industrial and 
electrical maefoinefy, accoun- 
for a foird of the Decem- 
ber inqxuts bill. 




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Green Today, Red To 


II 


orrow: The Fraying of the Pension Safety Net 


By Aline Sullivan 


D ON’T COUNT on tbe state. 
That message is soiiodnig 
loud and clear dirough most 
of the develc^)ed world as 
governments stash retitement 
For years, economists and demo- 
graphers have warned that a ging pop- 
ulations and mounting deficits would 
sooner or later force sharp cmbacks in 
slate pensions. Now that poiitidana 
have leaped aboard the bandwagon, the 
crunch is likely to come sooner. 

“Governments eveiywhene are look- 
ing at their social-security (Komises,'’ 
said Sylvester Sclueber. dimator of re- 
k search at the actuarial consultants Wat- 
*son Wyatt Co. in Washin^CML "Sig- 
niiicam reforms are taking place in 
Latin America. Hong KtMig. Japan, 
Prance. Germany, Sweden aiM die en- 
tire English-spe^^g world." 

There is not much tune to spare. Tbe 
Paris-based Organization of ^oodmic 
Cooperadon and Development projects 
that in the inchistiialized counoies that 
make up its membership, the proportum 
of people aged 65 and cm^ double, 

to 21 .9 percent, by the year 2050. 

The elderly also are getting older. In 
1 990, people over 80 account^ for 21.7 
percent of the OECD populadon over 
65. LcKiger life expectancy means that 


by 2050 they should account for about 
31 percent, maldng them the fastest' 
growing seffoent the poptdanoa. In 
dus group, women outnumber men al- 
most 2 to 1. This imhaiafig«» is sig- 
nificant becanse. according to tbe 
OECD, women tend to rely more on 
sodaf services. 

The problem is acate in Australia, 
Britain, Canada. New Zealand and die 
United States, wh«e tbe elders of die 
postwv bat^-booJD generation are ap- 
proaching retiremeaL In the English- 
speaking worid, only die Irish are pm- 
ducing more d:^ enough children to 
replace the current pt^ulation and eo- 
sine a relatively large workforce by the 
middle of the next century. 

More old peofde means more spend- 
ing on nwHirai and pension benefits. 

U.S. government’s Bipartisan 
Commission on Entitlements and Tax 
^fonn realized in August 1994 diat at 
current levels, spending an Medicare, 
Medicaid, Sodal Secuniy and federal 
employee reticBments would consume 
all currendy legislated federal tax rev- 
enue in Jt^ 35 years. 

Politicians m the United Stat^ 
wbeiie SepuUicans and Donocrats vie 
for die moral high ground of fiscal 
rectinide and balancra budgets, have 
been suipiiaingly reluctant to taclde diis 
problem-'Instead, President Bill CUnton 
success&iUy sou^t leelectimi on the 



promise that he would not endanger 
medical and retbement programs. But 
d» govenunent’s plan to raise das re- 
tirement age to 67 from 6S puts it well 
ahead of most other industrialiud coon- 
tries on that score. 

bt Europe, "ariAnai govem- 
fnanuB are already scrambling to 
reduce public ^leoding as a pro- 
portion of grass damestic 
in order to qualify for 
monetaiy union, 
wtuen is scheduled to b^n in 
1999. Thc^ can scarc^ affoil 
to ignore peosiens. particular^ since the 
beoe&is paid in some countries bear no 
reJatitn to the conoributimis paid by 
wodrexs. In France, Italy and Sweden, 
pubac peoaoos ate undergoing drastic, 
and controvertiaL reforms desigyd to 
bring benefits received by individuals 
closer in line vridi dieir contiibutiacs. 

I N BRITAIN, where public sentiment 
aboiu joining the Eurapean Monetaiy 
Union is an&valent at best, tbe pay- 
as-you-go pension systei^ of most con- 
tineaial Eurapean countries have beat a 
target (rferitidsoL Britam. like Australia 
and Chile, has been largely successful in 
maicing a fundamental policy shift fitxn 
reliance on government-provided pen- 
sions to privately provided retimnenl 
resources. Th^ private pensions are 
fully funded mid arc thaefone more 



likely to provide benefits to an a ging 
population than ray-as-you-go plans. 

‘‘Cootinemal Biffc^ has gn ia i ei un- 
funded peoskn liabilities.*’ said Peter 
Mqr^ at the consulting actuaries Bacon 
& woodrow in London. “These coun- 
tries may have to borrow in the 
near future to cover their ben- 
efits and that would mean hi^itf 
mterest rates the UJC if h 
agrees te a tingle cuneocy.** 

In Jap^, wboe a drusatic 
increase in the proportion of 
retired people is alr^y being 
felt, workers are ^ying incrmisingly 
high taxes u> cover the older gener- 
ation’s benefits. Econmnists warn that 
this approach is not sustainable, pa- 
ticuJarly siooe Japan bas the highest life 
expectwey in tbe world: 763 years for 
men and 823 years for womoi. 

According to tbe OECD, the pro- 
portion of Japanese aged 65 to 79 will 
mme than tr^Ie, to 18.09 percent, by 
^320, while the proportion of those aged 
80 and over will surge to 7.10 percent 
from just 2.39 percent in 1990. 

Robert Dark, a professor at North 
Carolina State University and a spe- 
cialist on the Japanese pension system, 
said that at current benefit levels more 
than ^ pocent of workers’ income tax 
must be earmarked for pensions by 
2020. That compares wiA a cunenl 
proportion of 163 percenL 


“Even afier tbe recent retireraem re- 
forms, it is difficult to see how Japan will 
maintain a total tax burden of 50 per- 
cent.'* said Mr. Clark. In 1989, the Jap- 
anese goveminent initiated a program to 
cut pentioQ benefits. In 1994, it rai^ 
the retirement ^ for all state benefits to 
65 from 60 for men and 58 for women. 

I N OTHER Asian countries, includ- 
ing South Korea and Singapore, the 
cunent population is more youthful 
than in Japan and the West But by 2030, 
their age structures will be similar to 
tbai in the United States, according to 
Mr. Schieber of Watson WyatL Tltese 
countries, however, are movm ag- 
giestively to control the cost of their 
public retirement programs. 

In addition to raising inemne taxes, 
many countries are increasing the tax 
paid on benefits. Politicians are aware of 
the Uraitations of this snaiegy. however. 

“Most governments are letting 
payroll packets roll up: th^ are taxing 
th^ woikers more and more.** 
Sc^ber saicL “But my sense is that 
pec^e in most developed countries 
airrady feel that ifaeir taxes are already 
high enou^.** 

Apart from raising taxes, the best 
strat^ appears to be to raise the age of 
entidemeot to peatioDs. Most have tar- 
geted the age of ^ and in some countries 
there is talk of raisiDg it further. OECD 


economists reckon that raising it to 70 
could largely offset upward pressure on 
pension expenditures as a result of demo- 
graphic pressures in most countries. 

Of course, workers, trade unions and 
companies trying to cut costs arc not 
entirely hapw about the trend to later 
retirement. C5uning actual retirement 
benefits is a less-acceptable, although 
^uaiiy elective, poliefy. For example, 
limiting total pension expenditure 
growth to the rate of GDP growth from 
20IS onwards would reduce budgetary 
pressures dramatically. But it vrould 
also cut tbe value of pensions relative to 
average earnings 15 percentage points, 
to 30 percent, over the following 15 
years, the OECD estimated. “The result 
of su^ reform might be many more 
elderiy living in relative poverty in the 
firture, unless they accummate addition- 
al saving to make up the shortfall,'' 
warned oi^suiization's economists. 

All of this is particularly ui^atable 
for people under 40. The OECfD warns 
that there are few ways to shift the burden 
to those who are at or near retirement 
Instead, the younger generadon “will 
have to pay the bulk of & costs one way 
or another. " Coming attractions include: 
paying higto taxes; bearing the costs of 
high^public debt; focing lower incomes 
in retirement; working longer and giving 
up Imsuie time or reducing cunent con- 
sumption to save, the economists said. 


Saving for Old Age 
The Diversified Way 

When Vaxietyh the BestPolicy 


By Barbara Wall 


B ecause you hope to rwm- 

tain your standard of living 
af^ you stop working, you 
save for retirement Sometimes 
you can do this through a single vehicle, 
such os a company retirement plan, a 
tax-advaotuged peraonal penriem or \sy 
^sing you- investment portfolio as a 
^source of funds, but cticinnstances may 
favor a combination of these options. 

The choice will depend on yow tax 
situation and your ne^ for flexibility. 

’ * Company pension schemes are con- 
sidered attractive because the emplojter 
as well as the employee is contributing 
into the fund,** said Sandipe Varma, a 
spokesman in Paris for the Ernst •& 
Young accounting firm. 

"These schemes are. also tax-em- 
cient,” he added. "There is usuaDy tax 
relief on contributimis and investments 
will generally roll-up free of tax.** 

The drawback is that many compmy 
pension plans have little fle«hihQr. The 
mon^ IS lied up until retirement and 
there are often limits placed on con- 
tributions. 

In many countries, personal pension 
arrangqmems have similar tax adva^ 
ages to company plans. But these can be 
imlexUile and expensive. 

Mr. Varma said it was not uncomm<« 

for two tiiirds of the first yew * 
ifrlributions to be eaten up in co nuaia imi 
• payments and roanag«rieni charges. He 
said that pcreonal pension 
generally not considered worthwhile it 


investofs intended to transfer out wifitin 
a few yem adjoining. 

Am^cans living outside of die 
United States ouw ttat be able to con- 
tribute to a tax-emdent domestic pen- 
sion anangemrat. A spedeesman in Rot- 
lerdam for the accountancy firm Arthur 
Andersen & Co. said diat American 
expatriates, for example, m^ not be 
able to continue contributions into a 
401k pension plan unl^ it was ap- 
proved for tax purposes by die host 
comUiy’s tax autfaonties. 

Tbm are offshore savinn products 
on tte market diat are dressed-up to lodt 
Uke stniclnred pension anangemeDts. 
These plans are predominantly sold by 
insurance companies to expatriates who 
live in tax-benign jurisdictiODS, such as 
in the Pacific Rim and the Middle EasL 
Since these programs are not approved 
for tax purposes, there are generally no 
investment restrictions attached norai^ 
tax Utdiiliiy. 



A 



L1HOUGHMANY. 
tbe convenience of in 
ion plan, tbe d 
ly'far in excess of anything one 
can buy ondme,** said Gordra ohaxp, 
head of technical services in London for 
KPMG, die global accounting feder- 
ation. 

"In one study it was found that off- 
dioie pension plans woiked out50 per- 
cent more expensive than onshore per- 
sonal pension arrangements,** he s^ 
Carol Woodley, an Arthur Andersen 
qwkeswoman in London, concurred 
ttfith this evaJuatiMi. 


'’Wherever possible, it is generally 
advisable to opt for ta.\-approved sav- 
ings schemes as the impact of tax relief 
on coQtribiidons and investment income 
can be considerable, especially fm 
young savers,'* she said. 

"Nevertheless," she continued, "tbe 
restrictions on contributioi levels may 
be such that higher-rate taxpayers are 
prniared to foigo tax relief m favor of 
adcted flexibitity.** 

If you are woridng alxoed for an 
extended period of time in a coun&y 
where tax is not really an issue foryou or 
if you are sixn|dy in need of flexibility in 
your pension anangements. }rou may 
prefer to design your own pension port- 
folio. 

Dana Mootc, a spokeswoman for 


Global Asset Management Ltd. in Lon- 
don, said do-it-yourself investors were 
gene^y advi^ to have a strong 
equity bias in their portfolios. 

S HE RECOMMENDED that 35- 
^ar-old investors who plaxmed to 
retire at 60 consider placing about 
IS perttent of dieir portfolios in global 
multi-asset class funds, which provide 
exposjire to a wide range of investmeDis 
and trading strategies. 

Giohal Asset M anagemOTt offers two 
such funds, tbe GAM Diversity Fund 
and die GAM Unxvetsal Fund. Both 
foixls are domicUed in the British Virgin 
Islands. 

Coatiaoed on Page 17 


■n 


Protecting Your Nest Egg From Inflation’s Nibble 


By Digby Larfi®*' 


W ith slow growth in 
many of the world s 
veloped ecwiomi^ the 
bugbear of inflation has 
become a dim memory to investors 
saving for redremcnL Yef.tbeMsrOBivc 
effect of rising prices on a renreoaem 
ppiTfolio means that many 
would profit by creating some nnd or 

British retirement 

Direct, said that few of his 

aider that high toflanon^d 

during ihar retiremcnL 

opt freannuitiesthai pay a fixed return. 


based on tbe size of the money they can 
afford to invest. 

"Almost all the peo^ we see buy a 
flat annuity instead of going for miefoat 
is to Infiation," Mr. Bunows 
said, **Yet no-mattar how good things 
look now there is always a risk ttw 
some ft ash pmot siicb u a war is an 
economically strategic country or an oil 
crisis will ^ik inflation once more" 

Eoforctng tins trend ls tbe recent 
poor p^annance of tbe index-linked 
government bonds on witich' inflaticn- - 
proof annuities are based. Investora ac- 
that ind^-lhddng bas to be paid 
for andtiiat su^ annuiti^ jtey out less . 
at ttie outset than flat-rate, annuities. 
This k fine, provided that mctthe from 
die indexed annuity eramalty grows 


to outsn^ the fiat-rate equhraleoL 
But disappointing tnoexed govern- 
menr bond prices and a Steep frJi in tite 
return of fiai-raie animities has 
widened the gap between tbe two. Tbe 


incoine paid om Ity indexed annuities is 
currentiy about 35 percent less than for 
those paying a flat rate bought with a 
lump sum of die same size. 

The Britishflrm Budenlial ^tesdal 
Services, for example, offers a fim-rate 
income of £9,j860 ^.15,970) per 
a lump-sum ' investment of £100,^. 
Tbesameamonm invested in an in^ed 
buys an initial income of £6399 
. with an maease-of 5 pemot annually. 

Worldwide, these rates are among 
tile besL Bas^. qn ihe peefonnance cn 
lO^year beaching bond ;jrield3, which 


Mr Burrows says are an excellent yard- 
stick for iniernaiiona] arniuity rates, 
BriraiD beads the list, paying 7.4 per- 
cent The rate in tbe united Stales is 
632 percent, of Germany at 5.73 

percent and France at 536 percent. 
Japan trails the rest at 2.46 per^L 

Annuity rates vary among providers 
but indexed rates average 30 ptfcent to 
40 percent less than th^ flat-rate fig- 
ures. 

Jn short, iodex-linked annuities are 
of ^ch poor value that they risk never 
catching up with foe income offered by 
dte cheaper, fixed-rate version. 

In fact, tbe difference is so great that 
weU-di$cipliaed retirees would be bet- 

Continued on JPage 17 




A.- . 


V 


Gender Gap Grays 
Into a Poverty Trap 

Retirement-Plan Risks for Women 


By Barbara Wall 


W ITH QUESTIONS about 
tbe prosper^ for state pen- 
sions growing and divorce 
rates ruing, manied womeo 
and those who take breaks to raise chil- 
dren risk retiring in poverty unless they 
plan their finances well in wvance. 

A study of British women by Flem- 
ings frivestxnent Trusts ^rvices, which 
is based in London, recently found that 
53 percent of tiiose of working age — 
aixMillOniillioD people — frtceadrastic 
dn^ in living standards when they re- 
tire. Only 40 percent of men have a 
similar ri^ tbe study found. 

Women around the world “are suf- 
fering because many take enforced career 
breaks to raire childram" saidaFleinings 
spokesman. **Th^ are also more likely 
to be in contract or part-time work, es- 
pecially in tbe ser^ces sector, where no 
cooqieny peaskm scheme is available.'’ 
A five-year career break can have a 
drastic impact on a woman's pension 
benefits. Tne Flemings report fo^ that 
a 30-year-old woman who contributes 
£200 (S32S) every month to a private 
pension plan and who stops work be- 
tween the ages of35 and 40 can export a 
reduction in retirement benefits of 
£50.000. To make that up, tbe woman 
would have to pay an additional £65 per 
month throughout her working life. 

As women tend to live Ioq^ than 
men anyway, diey are advised to wt 
more money into the pension pot while 
they have the opportunity to work. 
Hcote lYicei, tite director of the Lo^^ 
ba^ finandal advisory firm FionaPrice 
A^ociates, calculates that a women in 
her early 30s who earns £25,000 a year 
riiould te saving £377 per month if she 
plans to take a career break and retire at 
^ on two-foiids of her final salary. 

*‘2f worsen ate to avoid foe poverty 
trap in old age they have to take charge 
of their finances early on in life." Ms. 
Price said. "They cannot rely on state 
benefits because in most develtq^ na- 
tions the state pension is witboing on 
the vines. And witii divorce rates soar- 
ing it would be folly to place too much 
faim in dieir parmer’s pension. In some 
countries, sura as Britain, the courts do 
not automatibdly split the pension 
equally in a ^voroe settieizieat." 

A good occupational pension is a 
solid base frim which to start saving for 
retirement 1^ Price warned, however, 
that many plans would not allow a wo- 
man to make contributions if she did not 
have earned income. Moreover, if she 
decided CO letiiin to work part-time, she 
not be allowed to make the same 


level of contributions as before. 

"Women who plan to take time off 
from work are generally advised to opt 
for a flexible, pooled investinent 
product that allows them to vary die 
level of monfoJy contributions," Ms. 
Price said. "Tbe ideal product would 
include a wajver-of-premiums option. 
This ensures that should the policy- 
holder be unable to pay her monthly 
premiums through iil-health or because 
of a career brrak, her final pension 
benefits will not be affected." 

Pamela Christian, an American who 
lives in Paris, organizes seminars that aim 
to help women plan family finances. The 
majority of the women who attend are 
expatriates whose husbands have been 
sent abroad to woik. Many have put their 
careers on hold for the duration of their 
husbands' asrignrnents to look after their 
households and raise their cbildrerL 

" It is surprising the number of young, 
educated women who leave all die fi- 
nancial decisiras to their partners," Ms. 
Kristian smd "Most justify their 
stance and say that they have total con- 
fidence in their partner to make the right 
choices. This ^iproach may be satis- 
factory while their husbands are alive 
and the marriage is intact, but should 
their situations change these women 
could find themselves in serious finan- 
cial difficulty." 

“At the very least” she added, *’a 
woman should know what her pension 
entidements would be in the event of her 
husband’s death. This is especially im- 
portant if the women has not worked, or 
has given up woik for an extended period 
of time.” 

With some cratpany and private re- 
tirement plans, the pension dies with die 
polictyholder. Most staie-^ionsored plans 
provide a widow’s penaon allowance, 
but tbe amount generally is low. 

"Alihou^ many women do not have 
any earned income, they sbrald be ra- 
titira to a 50 percent stake in any savings 
or investments that have accrued wjfoin 
marriage.’' Ms. Qtristian said. “It is not 
uncommra for family investmrats to be 
in the husband’s name; however, the wife 
must insist that the invesunents be pm in 
joint names in order to protect in- 
terests.” 

It is also a good idea for husbands to 
draftawill. 

'‘This may not serai a very pressing 
matter if you are in your early 30s, but n 
you are living abroad, say, and your 
partner dies, you could fi^ that your 
rights under the host country inheritance 
laws are linuted,” said a Pans-based tax 
lawyer. "And if you are unmarried, you 
could end up w^dking away from the 
partnership empty-handed.” 















































































































































< 


INTEXNATIdNAIi HERALD TEtlBClNE, SATURDASr-SUNDAX, yMBMTABY 15 .I 6 , 1997 


B16E17 


THE MONEY REPORT 


An Oddball Tip: Hang On to a Handful of Stocks 

■ ^ VKrsar . O. 


finn, the average fond special^ the toee years endmgI«b.7JW 
aged bv nKSnSSu Stocks had a taradverate 18.0 percent; for me 15 higjHhura 

pSSw^oK <rfK9peK»mlastyear.footherw^ fimdsf^ 14;2 perceeL ^ .. 

*an (be ms^rirw ***® typical stock was bought beld fa One staodoiK was Mans & Power 

found that from 1981 and ahalf moaths. soIA Growth, a xeinadcable fond that puts 7S 

daid&PoOT’sSOOsaopifit^iSL^ J By buyhig and sellrng- SO quicfcly. percent ofitsnwneym stocks man its 
Wgherietuin8ta8?n^S?5Sl!5^ bomestateofMiiinesota.Ithasbeeaii^ 

VmmaidIndexSOO *e stodt ilsett. Thw are foffocpastl7ycar8hyCeoigeA.Mair8 

«^aatftheyto«^ 

hoafTt a mainritv nf ^ oown. Which no one can know. digits, averaging just 4 percent since 

fondsin managed It is not ea^ to food them, but some 1%. Reonns have been spectacular 

Cm • ...k.. years. nuituat-fond managers do have bnv- Mairs has beaten die S&P m die oast 


own many more (FIdeliQr Brnwg in g 
Qmwth, for example, h^ shares in 
304). How can a forid manner possibly 
kera track of so many stodcs? 

Research shows diat you need to own 
only 8 to 10 stocks (as long as tb^ are 
in difierent sectors) to get enough di- 


fbsdiepasCl7ye8r8byCeoigeA.MBlis veraification to brme your risk down to 
3d, 68, who keqis turnover in single about die same level as die market as a 
diets, averaging just 4 percent ance whole. But most fond managers cannot 


Returns have been 


resist owningamuldtode of stocks; like 


Goahe^ n • wuoaconqroerrunioaiscover 

however I hav^ ^ lowest tumover 

ovexihepast^andihelSfondswidi 


can beat die 


averages — 


St 10. lovestors in the fond here 
labled tbeir numey in three years. 
Anodierbuyei^hxdd success Story 


by domg things that conv entimwl ma«- JAMES •LASSMAN OAf INVESTING 

agers do not do. ^ = 

* ®o™msscur of general U3. stock fonds with at least is. Franklin Growdi I, managed since 
$100 scdllion in assets and a minimum 1965byJeciyIUiiiiezi,wfaohasataJent 
mv^^tocm^lMchailiowto Unw-yrar track recrad. fcr ra^doemg ratums that lou^ 

m memaikeL Tam idio^- Tbmover in die 15 bi^>and-h(dd niattm the S«P but at cemsideraUy 
cra^ seem to pay off for noa- "■ ‘ — . ^ 


Still, there are anomalies. Clipper is 
probably the best of them. It holds just 
18 stocks, and the top three — Fet&al 
Home Loan Mortgage Ccap. and Fed- 
eral National M«tgage Association 
(giant films diat finance mor^ges) 
and Wal-Mart Stores — account Tor 29 
pemnt of the assets. Oiroer has le- 
tnmed 16.9 annn^y over the 


is Franklin Growdi L managed since tnmed 16.9 ann 

1965byJeciyIUiiiiezi,wfaoliasataJent past fiw years, 
three-year track recOTd. for prodoemg returns that rouriily Despite its name, Jasus Tweoiy owns 

pni^r m TO m arket Tw idio^- Tbmover in die 15 bi^-and-hcdd mattm the S«P but at cemsideraUy 30 stocks, h retunied 27.9 percen t last 

P^y fv noDr fonds ranged last year from 2 percent loweriisk.Thatmeansinvestandonot year, fiw pmius better foan the SAP. 

(ferPdncorGro^^ to 11 percent (Ga- ride scary ups and downs. The food's More impatant, die fimd. which owns 

^ portfolio, belli Small-C^ Growdi)- The latter average ann^mmover of 2.9 percent laige-c^ sbKks like P^iCo and Boe- 


lom ame and keeping a small portfolio. 

Iro best w^ to get rich in the stock 
maikn is to buy good coomanies and 
keep them. Philip Fisher, the great Cali- 
fornia investor and author of ‘^Common 
Stocks, Uncommicxi Profits,” wrote in 
1958, ”If the job has been emreedy done 
vdien a comiiKMi stodc is putdiased, the 

time to sell it is — altwMff never.” 

Most fund managers the op- 
posite approach. According to Mom- 
ingstar, the Chicago-based reseat 


figure indicates that Gabelli ended tbe for die past three years was the lowest xng, has whipped the market averages 
year widi 9 out of 10 stocks which die oonmoter search found. over the pan 10 years. 

It started. Ttimover in die 15 higib- Tweedy. Browne American Vahm Tlmforeign-stockforidwithdiemost 
chum funds ranged from 268 peiceni has aveia^ 6.5 percent turnover snee abbreviatedportfolioisHai^Intar- 
(Drqrfos Gfowfo OsportuniQ^) to 525 it was started by a venerate Wall Street ziational Growth, which has 31 stocks 
percent (New USA (jrowtfa), m^annijy finn three years ago. The managers and bad a return last year of 32.0 per- 
mat managers srere tmiung over dwir fovtx'underaacedsharesrathcrdianh^^ cent Te^ holdings are Ciba-Geigy, die 
portfolios three, four, even five times, growth sttx^ and have been investing Swiss pfaannaoeutical firm, and 


Whidiextretnestyle<fidbettBr?Ldw m financial and foreign shares, 
tumover, by far. The average amraai Meamriiile, die average mutual fimd 
return for the buy-and-hold fonds for owns shares in 140 conqianies. Some 


ears ago. The managers and bad a return last year of 32.0 per- 
icedshaiesrathcrdumhot cent Te^ holdings are Ciba-Geigy, die 
sand have been investing Swiss pfaannaoeutical firm, and 
ad foreign shares. GranadA Group, the British entertain- 

!, die average mutual fond ment con^iany. 
m 140 conqianies. Some The Waahmgim Post. 


In Saving for Old Age, Variety May Be Best Policy 


Continued from Page IS 

Under the umbrella of die Fleming 
Flag^p Fund, there also are two glob^ 
multi-asset class foods, die Deutsche 
Mark Balanced Ftind and the Tntemg- 
tional Equity Fund. 

In order to boost portfolio growth, 
j^Ms. Moore recommended that about 7 

Tfyouaremanoffiig 
your own pension 
portfolio you must be 
prepared to monitor it. ^ 

percent be invested in emer;png mar- 
kets. 

"Given the vast choice and impor- 
tance of specialuatioo widiin this cat- 
egory, a mu/ti-maiiager fioid should be 
the core holing,'” ^ sud. "It vai^ be 
supplenrented ^ specialist funds as rqh 
proprtate.” 

*‘We vrould recommend tiiat an ad- 
ditional 15 perc^ tbe portfolio be 
invested in trading foiid&,'^she added. 
^■"Trading strategies in foreign ex- 


change. commodities, or securities may 
be nooconelated or inversely conelated 
witii the TnaiWi, Aliy providing 
when maik^ correct.^ 

Ms. Moore said that the balance of tbe 
peutfolio ooold then be invested in re- 
gional or country funds. She 
suggested tiiat 18 percent be 
invested m tiie Umted Sta^ 

20 percent in die Pacific regroQ 
— with Japan represeotiitg 
about 9 percent ^ toA 25 per- 
cent in Europe. 

"General European mao- 
ageis may be supfuamoted by a UX 
specialist to reflect the deptii and di- 
versity of market," ^ said. 


A S MANY investors will not have 
/\ adequate resources to invest in 
J. Xifae foil range of lecammended 
fluds, it would be senrible to start off 
vtifli a core holding of around four 
funds, including a ^obal asset multi- 
class fond, an emergmg-marirets fond 
and two re^onal fon^*^ she added. 

"Once foe pmtfoUo is estaUidied," 
^ stud, "tii^ can then invest in al- 
ditional fonds." 

Ms. Home foctfaer advised that in- 
vestors choose two or three fond ^iqn, 
each vridi a diveise range of fuiro wifo 


nay strong track records over force, five and 
lied 10 years. She said this would limit 
last svdtehing costs. 

"Most importantly, the fonds selec- 
tbe ted should be ones whose base currency 
re- coge ^ io^ with the currency of ul- 
timate liability,*' she said. 

Every investment manager 
will have an ideal asset-alloc- 
atioo model. 

Sim<w Davies, a finmicial 
consultant with Bon Asset 
Man^ement in London, said 
that investors who are entirely 
X dependent on foeir saving should 
di- it safe and invest 20 percent of uct 
portfolios in fixed-income securities 
such as fioating-rafe govemment bonds 
ive or off^iore bo^ funds, 
in He advised that an additirmal 10 per- 

iod cent of tile portfolio be invested in a 
off general emerging-maikets fund and tite 
nir balance in tiie American and European 
Iti- eqinty markets. 

nd He said, however, tiiat be would not 

recommend investing in Jqian for tbe 
1," timebeiag. 

d- bfr.StuBqiofKMFGsaid:"lfyouare 

managing your own pensi<m pwtfolio 
in- youmustbeivepeiedtoxiumiRff’iLTen 
ps, years before reorement you will prob- 
ably start moving your assets into cash. 


H e ADDED, "If you move your 
assets gradixally you will aviud 
any sudden, adverse market 
movements." 

You may be persuaded to take out an 
annuity in onto to provide a regular 
income in retirement 
One London-based pension consult- 
ant pointed out that whiie annuities give 
reasonably hi^ income returns, tiie 
caphal is not refunded. So if you die 
early, your heirs will lose out 
For information on offshore pension 
plans and other finanicial matters, call 
the msKTORre brokerage Shepherd and 
Co., on the island of Jersey, at 1534 
38471. 

Three providers of offshore plans in 
Britain are: Genenu Accident. 44 
01734263 698; Sun Alliance, 4401403 
23423, and Friends Provident, 44 
01722413366. 

For multi-asset class funds, call 
CAM Administration on the Isle of Man, 
44 J624 632 787, or the Fleming Flag- 
ship Fund in Uaembourg, 352 3410 

7077 


bond fonds or a mixture of tbe two. The 
allocation will depmd on whether you 
want an income stream, a cash sum or a 
bit of both at retirement** 


BRIEFCASE 

Foreign & Colonial Sees 
A Bear in Thai Market 

Ihailand, the Asian Tiger economy 
tiiar viciously turned on investors who 
had fod its st^ market in foe bo^ that 
it would maintain strong, expon-led 
economic growth, remains a dangerous 
[dace to own shares, according to Fw- 
ei^& Colonial Emerging Markets. 

Diat will be disheartening news to 
those who ha:^ held <»i throughrat tiie 
44 pe rce nt drop in the SET index since 
the beguming of last year. That f^1 is 
wmse than any suffered by a market of 
any con^uence in the worid. 

*‘The Tmu anthorities are confronted 
by a mmor policy dilenuna: whefoer or 
not to devalue the currenqr,** the For- 
eign & Colonial frind-management 
company explains in a report to clients. 
*‘A devaluation would improve the 
country's export emnprativeness. 
which m turn would benefit the current- 
account deficit." 

"However," it continues, **any de- 
valuation would immediately inerrase 
the itahilifift* of tiiose companies and 
individuals who have bmrowings de- 
nominated in U.S. dollars. Ui^ this 
poU^ dilemma is resolved, tiiere is 
likely to be a further erosion of con- 
fidence. For foe moment, we remain 
bearish.*’ (IHT) 

Britain Extends Ban 
On Fidelity’s Brokerage 

Regulars have extended a ban on 
new business ai tiie British broterage 
arm of the Rdelity Investments fund- 
management company, tbe ivorid's 
largest The ban, impo^ last fall after 
tire brokerage foiled to repair chronic 
computer problems, will run an extra 
tinee mtmms, until April 30. 

West, marked^ manager of Fi- 
delia Brokerage Services, attributed the 
iromputersnaius, vriiich came to light in 
May, to difficulties in implementing an 
enhanced adirunisliative ^stem. 

"Id die last three months, we have 
been liaising closely with foe Securities 
and Futures Assodation. addressing op- 
erational difficulties tiiat have been af- 
foctisg our clients," Mr. West said. 

Citmg steps that have been taken, in- 
cludittg the aoquisi^ of souped-up 
equipment and recruitment of top tech- 
nual advisers, be added, "We have made 
ptomress, however, we do lecognire tiiere 
is soU more work to be done.*^ 

He said tbe brokera^ had lost "a 
small percentage’' of clients, about 300. 
He said he could not say when all the 
problems would be remedied, only tiiai 
^ 'there is no quick-fix; tbe problems have 
to be addres^ in a logical way.* ' flHT) 

Seeking Out Bond Deals 
In Europe? Look East 

Ftospective buyers of foiropean 
bonds may be put off by tbe low interest 
rates on offer, especially from countries ■ 
such as Spain and Italy, where yield 
spreads over bonds issued in the 
stronpu'-cniTency countries have 
shnmV dramatic^ly in foe last year. A 
suggestion by Creditanstalt, a large 


Protecting a Retirement Nest Egg From Inflation’s Nibble 


Austrian bank, is to look to the East 

"Investments in Eastern Europe con- 
tinue to offer attractive premiums over 
the relatively low incereft-rate level in 
Western countries,*’ die bank's bond 
analysts said in a report to investors. 

The most attractive market, ti^ s^« is 
foe Czech Republic, where, since tut 
luonifa. a ^ percent withholding tax has 
been sl^iped on govemmem securities. 
"Foreign investo^ who continue to be 
exempt from this tax. mi^ take ad- 
vanta^ of the new shuaiion." the report 
said. 

Elsewhere, Hungary and Poland rq>- 
resent good memum- and Imig-term 
prospect s , although there may be some 
short-term difficulties, owiirg to stubborn 
inflation. The bank Ls also gmgmne about 
Russia, but suggests avoiding Slovakia. 

Rates for two- or three-year bonds in 
Poland are 20.4 percent; in the Czech 
Rqwblic, 93 percent; in Slovakia, 7£ 
peicenL and in Hungary. 18.1 percent. 
Rates for three-year govemment debt in 
major West European countries range 
firm 3.7 percem in Iraace 10 63 percent 
in Italy. 

Tbe report also notes that the stronger 
Central European countries have begun 
to peg thur currencies to baskets of 
Western currencies, ameliorating the 
exchange-rate risk inherent in emerg- 
ing-market debt. ilHT) 

As Gold’s Glitter Fades, 
Even Central Banks Sell 

Gold was such a poor investment 
during the past 17 years that even cen- 
tral banks — the wemd’s biggest holders 
of the metal — are selling bullion. 

Subdued inflation, soaring U.S. and 
European stock markets and a mounting 
pre fe rence for the safety of the dollar in 
times of crisis are luring investors away 
fiom gold. 

Since January 1980. when gold 
peaked at $850 an ounce, prices are 
doivn about 60 percent, while the Stan- 
dard & Poor’s ^0 Indiex climbed 605 
percent A Sl.OOO investment in gold in 
1980 would now be worth about S400. 
The same investment in tbe S&P. with 
dividends reinvested, would be worth 
about SI2.000. 

Gold's returns are lagging other as- 
sets so much that central banks, which 
own 1 .1 1 biUion ounces, 29 percent of 
ail foe gold ever produced, are reducing 
their holdings of foe metal in pursuit of 
more lucrative markets. 

The specter of further central bank 
sales helped push gold to S343 an ounce 
on Thui^y. llie announcement last 
monfo by the Netherlands that it sold a 
fiffo of its reserves in 1 996 hefoed prices 
foil, as did Belgium's sale of a tii^ of 
iis reserves last year. 

Tbe economic outlook for this year 
and next does not bode well for gold, 
long considered a guard against the 
damage that acederatiog inflation can 
do to interest-bearing assets such as 
bonds. 

In December, the Organization for 
Economic Cooperation and Develop- 
ment predicted 2.5 peromt econoiiuc 
growth and mild inflation in its member 
countries in 1997. {Bloomberg) 


Continued from Page 15 

ter offreiovesting a portion of 
their flk-cate annuity pay- 
ments in stocks as a do-it- 
yourself hedge against future 
price increases rather than 
buying an indexed invest- 
ment, Mr. Burrows said. 

Some anal 3 rsts conader tiiat 
kee^ng fdl your retirement 
fuM invested mequities is tiie 
best possibte hedge against in- 
flatioQ. Indeed, the proMem 
'Avitii buying aimuities to fund 
‘Tetiremei^s tiiat tiiey con- 
tinue paying out in tiie same 
way, regaid!ess of nrarket 
camtions. 

George Van, chcurpian of 
Van Hedge Finid Advisors in 
NafoviUe, Tennessee, said 

tiiat a growing numbear of U.S. 

investors believed that stock- 
market xnvestment was ifae 
best way to hedge their ^ 
tirem^ inemne agmnsi in- 
flatioiL Long-tenn Ame ri ca n 
equities have returned in ex- 
cess of 10 peicmt a year to 
investors, outpacing inflation 
and ^ returns available on 
bond-rtiaifcet vehicles. 

"I rhinlt tins underiines the 
reastm why more and xnore 
pecqrie are gening into equitiK 
and motoal foods these days, 
he said. “Even if you simply 
benchmark the va&x^ you to 
( tfovifongymirself with m ad- 
^equaie iniwoa hedge." ^ 

' But how mudi conJiol in- 


Annuity Rates vs. Equities 

- ”, ’'tr''.' 



Souie9:AnnuayOk9et 


vestors have over their retire- 
ment income depends on (he 
Qqte [dan in vdiidi they in- 
vest C uip orate p rogr a ms In 
sane' countries are moving 
awiQT fixvn offering defined 
boTOts — which aim to 
provide a prodetennined peo- 
rion for rewed enqiloyees ^ 
to those with defined contti- 
only is it admin-' 
istraiivaly easier for ezqdoyets 

inm a letiremeot^^ retbec 
ihqn how much w31 come out, 
but it makes it easier fiv em- 

is invested. 

In die United States, foe 
40lCk:) private praon has a 
self-invested versioii, as does 
tiie Irtish personal private 


penrion. Although tins gwes 
investees the chroce to ensure 
tiiat tiieirietireoaent fonds are 
urutec ted inflteioo, it 

ows not solve the pnfolem of 
matf^wim fng jwii rhimng pnwer 
after letiremenL 
Moreover,. local tax regu- 
lations .often limit tiie peosTon 
mvestors’ room fat maneu- 
ver, even when they have 
control over tfaeirfonds. Until 
recently, foe exainple, British 
retirees were obliged to buy 
an annuity wifo tit^peotitHi 
fund almost as soon as they 
8 te{ 9 ed wmking. They could 
dzoose between d iffbr eut 
types of amniity and could 
aigft shop around to find a 
prmrider offering the best 
deaL but that was aH. 


But die British goveenment 
has changed the rules to allow 
re tire es to keep tiwzr foods 
invested and draw an income 
dire^y from them, said Tmiy 
Reardon, a penaon specialist 
wifo Allied Dunbar Assur- 
ancoPLC. 

"There are still a number 
of restrictions concerning Just 
bow much income investors 
can take, but it is very flex- 
ible," he said. 

The key lestrictuxi is foat 
retirees must buy an anmiily 
before they reach the ^ trf 
75. So ro, foe phms have 
proved most popular wifo 
people who nm early, Mr. 
Refidonsaid. 

"If you're retiring at age 
55, that gives you a foil 20 
years to drawing inemne 
foiectly fiom your fmid," he 
siud.. 

At tiie same time, provided 
that tiie bulk of the fund re- 
mams invested in equities, foe 
income stands a goM chance 
in tiie long-tenn of be^xng 
back any periods of inflation. 

An added bonus is that the 
fund will'fonn part of your 
estate. With few exceptions, 
money pud into aamnties u 
lost once the lectyient foes. 

During die years it takes to 
bufld a substantial retirement 
fond, investon 'aedrticxially 
foifl steadily aloiu tiie risk/ 
reward sc^ Young in- 
vestors with enou^ worfcbg 


' years ahead of them to make 
good on investment losses 
usuaUytake 00 more risk than 
those nearer retirement 
In later years, as tiieir in- 
vestments grow, they are en- 
couraged to consolidate their 
by shifting their funds 
mto plans that cner less risk 
of losing capital but also have 
reduced returns. As a result 
many investors bold their 
fonds in cash at tbe point 
when retire. 

"So it takes a leap of faifo 
to get peqile to pul their 
money back into equities. " 
said Reardmi. 

Even so. he cooceded that 
combating tbe inflatim risk 
by maintaining your retire- 
ment fimd in guides in- 
volved increasing risk in oth- 
er areas. 


"There axe essentially two 
ways you can be hh," be said. 
"For a start, there is die risk 
that a dramatic fall in equity 
values win leave you mfo a 
smaller food than the one you 
had at letirement. Such a 
crash could also have an ad- 
verse effect on annuls rates, 
makmg it more expensive to 
buy a regular income when 
tiie time comes." 




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PAGE 2 


international herald TOIBUNE, SAXUKDAy-SUNDAS, FEBRUARY 1-2> 1997 



PAGE 18 


Sports 


fWoRLD Roundup 


O’Neal to Miss 8 Weeks 
Hartson'bmsfefs With Damaged Knee 

SOCCER The Welsh SDiker John ^ 

Haxtson left Anen^ od Friday to v a % ny /»/ * yT TT*^ C 

Lakers Play off Hopes Hit a Snag 


SOCCER The Welsh sinker John 
Haxtson left Aisen^ on Friday to 
join a rival London club, West 
Haxn,ina£S million (S8.1 million) 
transfer deal. Hanson signed a nve- 
year contract widi the struggling 
Hammers just 10 days after die club 
landed Newcastle’s Paul Kitson for 
£2.3 milljon. Both players will 
make their debuts for West Ham in 
Saturday’s relegation game at 
Deri^. (AP) 

Auseies Are Taming Tiger 

QOLF Stung by the enonnous 
publlciQ' surrounding Tiger 
Woods, the Australians Peter 
O’Malley and Lucas Parsons 
bolted to a seven-stroke lead over 
the American sensation midway 
through the Australian Masters in 
Melbourne on Friday. 

O'Malley, who said the coverage 
being afforded Woods "fii^ 
everyone up,” shot a 7-under-par 
66, while Parsons had a 67, for IS- 
un^ totals of 131. Woods bo- 
geyed the final two holes and fin- 
ishM wiA a 70. (AF) 

Injury Sidelines BecW 

TENNIS A recurring wrist injury 
forced Boris Becker to pull out of 
the SI miiUoQ Dul^ Tennis Open 
on Friday, just Tninmag before a 
scheduled quarterftnal against Gor- 
an Ivanisevic. Widi the German’s 
exit, tt^seeded Ivanisevic moved 
unchallraged into.tbe semifinals 
whm he was Joined by Jim Cour- 
ier, who beat fourth-seeded Wayne 
Femira, 6-2, 7-5. (Reuters) 

Greek Sprinter Shines 

AniLETiCS A Greek sprinter, 
Charis Papadias. ran the 60-meter 
dash in 6J1 seccxids on Riday to 
^ual the woid's best peribnnanoe 
indoors this seasra. P^adias, com- 
peting at die Greek wtald indoor 
chan^ion^up trials, wnnphed the 
time set Donovan Bailey of 
Canswtfl last week in J^kol f AFP) 


By Clifton Brown 

Ww York Times Service 

In a development that coold take die 
Los Angeles Lakers out of the cham- 
pionship picture, Shaquille O'Neal will 
miss the next eight to 10 weeks because 
of ligament damage in his left knee. 

The All-Star center has a fractured 
bone, a partial tear of the lateral col- 
laterd ligament and a tom capsule. The 
damage was revealed during en exam- 
ination Thursday. Surg^ will not be 
required, but O'Neal wear a splint 
for two to three weeks before he can 
begin rehabilitatiou. 

O'Neal was injured Wednesday night 
in a game against the Minnesota Ttin- 
berwolves when he was knocked off 
balance by Dean Garrett and landed 
awkwardly after trying to catch an alley- 
oop pass. O’Neal went to the floor in 
p ain, but he remained in the game and 
scored the next 10 points for the Lakers 
before leaving for good during a 
second-quarter timeouL It was O’N^’s 
first gaw back after missing two 
gt^s, atvd tiien the All-Star Game, 
with a strained right knee. 

The National Basketball Association 
playo& begin Ajnil 27, 10 weeks from 
now. In die best-case scenario, O’Neal 
would return two weeks before the play- 
ed. In the worst-case scenario, he 
would be out of action until the playoCN 
began, or even longer, if his rehab- 
ilitation was slower than predicted. 

Widiout O'Neal, die Lakers will be 
hard-pressed to keep the No.l seeding in 
the Western Conference. After a 132-117 
victory lliui^y night over the Denver 
Nuggets, the Lakers have the best record 
in the West (37-13), three games in frt»t 
of Seattle in the Pacific Division. 

But Utah. Houston and Se^e all are 
within striking distance of the Lakers. It 
is conceivable tiiat the Lakers could 
drop from No. 1 to No. 4 in the W^est 
before O'Ne^ returns. costin| Los 
Angeles home-court advant^ in the 
later rounds of ^ payoffs. 


Lots of Surprises in Snowed-In Sestriere 


By ([Hiristopber Oarey 

fecial to the HiraidTribum 

S estriere, Italy — The biggest 
surprise during the first 10 days of 
die World Alpine Ski Ctompi- 
onships might not nxve. bera Penulla 
Wtberg’s failure to win a medal or 
Bruno Kemen's stirring victory in the 
men's downhill. 

The biggest surprise might have been 
the weather clear skies, springtime 
temperatures and only an occasional 
gust. But Sestriere has reverted to form 
in the last 72 hours. There have been 
high winds, fog and relatively heavy 
.snowfall, which is no problem for Id- 
iterod racers but a big problem for 
world-class ski racers. 

On Friday, for the second straight 
day. the downhill portion of the wo- 
men’s combined event had to be post- 
poned. The result is a logjam. On Sat- 
urday, which is scheduled to be the fin^ 
day of these championships, there are 
now three events on the docket: the 
women’s downhill at 10:30 A.M. local 
time: the women’s combined dow nhill 
at 1 P.M. and the men's slalom featuring 
Alberto Tomba and his Austrian rivals 
under the floodlights in the evening. 

And that is only the best-case scen- 
ario. If the weather does not improve, 
Sestriere will have to run races on 
Sunday and confront the myriad lo- 
gistical nightmares that would accom- 
pany the extension of an event that 
already drags on too long for the spec- 
tacle it provides. In the 12 days of 
the championships, only seven events 
were completed, which made for almost 
as much prologue as plot. 

The organizers knew they were tak- 
ing a risk by scheduling the women’s 
downhill on the last day of the cham- 
pionships. They did it because the wo- 
men's and men's downhills require dif- 
ferent course preparation, making it 
undesirable lo conduct training runs dur- 
ing the same period. The organizers also 
did it because television audiences are 
bigger on Saturdays than weekdays. 

"Whai we really need are two sep- 
arate courses for thie men and women,” 
said the American downhill coach, Jim 
Tracy. “I haven’t liked Utis schedule 
from the beginning.” 

Sunday's schedule will be particu- 
lurly taxing for Katja ^zinger and 
Hilde Gerg of Germany and Renate 
Gocischl of Austria. All three are in 
good position for medals in the com- 
bined. Now. they will have to run two 
downhills in a three-hour period. 

Wiberg will only have to run one. The 
compact Swede, who leads the overall 
World Cup sianding.s by a larg^ maigin, 
has pFov^ herself to be a big-event 
skier throughout her career. But in Ses- 
triere, .she appears to be paying the price 
for her past .successes. In four events 
here, her best result is a sixth-place 
finish in the giant slalom. 

in the regular slalom, she hooked a 
.ski lip on a gale in the second run and 
wus eliminated. On Thursday, in the 
less-taxing combined slalom, .she did 
the .same thing during her first run. 
Some have blamed her .struggles on 
pressure: some on fatigue. Wiberg is 
uncertain, and a.s .she started answering 
questions in the finish area after her 
latest gaffe, she began giggling. 

“I have so many other things to be 




c 












S, •• • : 




i>8^hrrEii^> bi rffhe ImiHiiImI IVpw 

Alpine soldiers shoveling snow from Sestriere's downhill course Friday. 


happy for that I can’t do anything but 
laugh.” she said. ”I have made so many 
mistakes, and I just can't believe that 1 
could make them in four races in a row. 
Now. all I'm focusing on is du overall 
World Cup title.” 

Wiberg, of course, still has a remote 
chance for a medal in the dow nhil l. 

B ut NO Matter who wins the 
niain women’s event — and that 
includes Isolde Kostner of lody 
— Sanirday's focus will be on the sla- 
lom, where Tomba will attempt to make 
his nation forget about his abysmal per- 
formance in Wednesday’s giant slal^. 

Tomba nearly fell three times at the 
top of the course and then sided out one 
minute into his first run, looking very 
much like an athlete on the slippery 
slope toward mortality. Afterwa^ he 
blamed hi.s skis, his cold, his start num- 
ber and, above all. the course setter. 
Max Valquist of Norway. “He must 
have been drinking when he set this 
course,” Tomba said. 

Now, “La Bomba” has a second 
chance, and there Is no question that his 
medal chances are better. While Tomba 
had competed in only one riant siriom 
thi.s season before Sestriere, ne has made 
time in his busy sodal schedule for four 
slaIom.s, Finishing second, eigjuh. 
s^nd and. .shortly before these cham- 
pionships. first in Schladming. Au.stria. 
“What 1 fear most is not the other 


racers but the course setters.” Tomba 
cracked on Friday niriit after complet- 
ing his training on the slalom hill. 

The other racers include Thomas 
Sykora, Thomas Stangasring^ and 
Mario Reiter of Austria: Tom Stiansen 
and Kjetil-Andre Aamodt of Norway 
and Sebastien Amicz tk France. The call 
and powerful Sykora has had die best 
season, winning five of the eight sla- 
loms contested. Although he has been 
slowed by a knee injury, he looked 
healthy and relaxed on Friday a.s he 
cagily gave Tomba compliment after 
compliment. 

“It’s always nice to have Tomba at 
the start of a race.” he said. “He's a 
showman. He brings a lot of interest, 
and it’s aivrays a l»g party when he 
races. His chances are good He knows 
this course peifealy.” 

It was at a slalom in Sestriere in 
November 1987 that Tomba broke 
through for his first World Cup victory 
with Stan number 23. Two days later, he 
beat his and so many other skiers' idol. 
Ingemar Stenmaik of Sweden, in the 
giant slalom. 

It was also in Sestriere dial Tomba 
won Che first night slalom in World Cup 
history in December 19M. 

But he is well-aware that he has not 
won here since, and as he considers 
whether he should continue his career 
beyond this season, the re.su]t of this race 
surely will wei^ heavily in the debate. 



O'Neal was having his most con- 
sistent season, averaging 25.8 points, 
12.8 rebounds and 3 blocks a game, 
after leaving die Orlando Magic last 
summer and signing a seven-year, $1^ 
million contraa vath the Lakers. Tte 
NBA’s trade deadline is on Thursday, so 
it is unlikely that Jerry West, tiie Lakers’ 
general manager, will be able to make a 
deal to ease & loss of O’Neal. 

Coadi Del Harris wiU probably move 
Elden Campbell from power forward to 
center. IVavis KriighU a 6-foot-lO-indi 
rookie, could move into the starting 
lineup at power forward But the Lakers 
will miss O'Neal's low-post soniog, his 
physical play and his intiniidatioQ of 
opponents near Ibe baskeL More pressure 
fall on all of the Lakers, including the 
talented badccourt tandon of Edrie 
Jones and hfick Van ExeU which will be 
counted on to pick up its scoring. 

Meanwhile, bench players like the 
talented rookie Kobe Bryant, Jerome 
Kersey, Sean Rooks and Joe Kleine all 
could see more action. 

Canmbell played well at center when 
O’NeaT was out last week, scoring a 
career-hi^ 34 points and gabbing 14 
rebound in an impressive victmy over 
the Chicago Bulls. But playing a we^ 
without O’Neal is one thing. Playing 
two months without him is another. 

Meanwhile, the Lakers' second-half 
schedule is not ea^. Tbey have a five- 
game later tiiis month to Houston, 
Washin^n, Atlanta, Indiana and Dal- 
las. And diey still haw Eastern stops to 
make in Cleveland, Mrami, Orlando and 
New Jersey. 

O’Neal’s injury also spoils one of the 
most anticipated dates on the regular- 
season schedule, Maroii 23. when the 
Lakers visit Orlando. 

Many Magic fans were irate when 
O’Neal spurn^ a lucrative offer from 
the Magic and bolted to the West Coast, 
and they have been eagerly waiting fw 
his return. But widi CTNeal out of the 
lineup. Magic fans will have to save 
their booing for next season. 






RarSnbliMib^Bnam 


Allen Iverson Tras called for charing hi this collision with Chris Quids. 

Knicks Throttle 76ers 

Childs Wins Battle With Iverson 


By Mike Wise 

Nev York Tones Senice 

NEW YORK — Chris Childs de- 
cided he would not chase Allen Iverson 
like a skittering leaf along a sidewalk. 
He would not lunge. He would cut off 
his angles and simply wait for him to 
make a move. 

By the time the New Ycsic Knicks had 
enieiged with a 107-92 vicipiy over the 
Philadelj^iia 76eis Thursday night at 
Nfodison Square Garden, die 76ers' 
rookie point guard had noi^ere to go. 

Childs not only ctmiroUed the 

NBA RooHOUP 

tempo of the game, he controlled Iver- 
son for the fiik time this season. lim- 
iting him to 4-of-19 shooting from the 
field. In three previous games agrinst 
(he Knicks. Iverson had averaged 27.7 
points. 

The matchup, won clearly by Childs, 
was symbolic for two teams headed in 
opposite directions. “1 tried not to take 
as many chances and tried to keep him in 
front of roe,' ' said Childs, who fini^ied 
with 13 points and nine assists. “I did 
vriiat I could to steer him left” 

All five of die Knicks’ starters, the 
same guys who were benched in the first 
quarter of Tuesday's victory over 
Washington, scored in double figures. 
Allan Houston led everyone widi 28 
points, Charles Oakley scoi^ all 21 of 
his points in the second half and con- 
tributed 11 rebounds. Larry Johnson 
added 18, and I^trick Ewing had 17. 

Iverson finished with 13 pobts. 
Childs had fouled out the past two games 
against the 76ers while trybg to scc^ 
him. In a game on Nov. 12 against the 
Knicks, Iverson fouled oat Sew Brooks 
and Charlie Ward en route to 35 points. 

Add rejection to insult: Whh seven 
mbuies left b the game, Iverson had a 


clear shot at an 1 8-footer along die ri^ 
1^1^. Rather dian take die shot, he 
took one dribble and gave Ewing all die 
time b the worid to for die block. 

In other games, The Associated Press 
reported: 

LafeMS 132, Nug8«)te 117 With Sha- 
^uille O’Neal out agam with a knee b> 
jury, the Los Angeles Lakers turned to the 
long-range shooting of Nick Van Exd to 
de^ the Nuggets m Denver. 

Van Exd equaled his dub record 1^ 
hitting eight 3-pointers. including five b 
the timti quarter, and finished with 30 
pobts. Btyara Stitfa scored 26 pobts to 
Denver. 

Jass IlOy iVail Blazan 86 Karl 
Malone scored 24 pobts and Utah 
outscored visiting Poiiland, 25-1, m the 
first. 7:10 of the second half. 

John Stockton added 17 pobts and 
Jeff Hornacek bad 16 — 10 coznbg m 
the tbird-<)uarter run — as Utah won for 
tbe ubthtuneb its last lOgames. Kenny 
Andoson led Pmtland widi 15 points. 

Vtarridrs 107, MavoricksSO b Dalto, 

Latiell Spiewell scored 28 pobts and 
Joe Smith added 20 pobts and 12 re- 
bounds as Golden State snapped a four- 
game losing streak. 

Bimbo Coles connected on a 3-pobt- 
er with 8:52 to play to break an 87-^7 tie 
and the Wairiors went on to a 7-0 run for 
a 94-87 lead. 

106 , 90 Thn Hardaway 

bad eight pobts and five assists ma21- 
2 Miami run that propelled the host Heat 
to its eighth consecutive victoty. 

Ibrdaway finished with 18 pobts 
and 14 assists b 33 minutes as iCfiami 
won its seventh straight home game. 

Mnse 105, Cl ipp w 90 Mitch ^ch- 
mond.SGored 14 of his 41 pobts b the 
fbuidi quarter and made a key defensive 
play to lead host Sacramento to viccoiy, 
snappi^ a three-game losbg streak. 

Malik Sealy topped die Clippers with 
20 pobts. 


Jets Break Bank for Coach 


New Yoilc Times Sen-ice 

NEW YORK— What price suc- 
cess? When it comes to Bill Farcells, 
die New York Jets seem to have no 
IhniL 

In addition to givbg the New Eng- 
land Patriots four top draft choices 
over tbe next three years, tbe club 
will pay Parcells $14.4 millioa as 
head coach and chief of football op- 
erations. 

That would nudte him the highest- 
paid coach m the National Football 
League. 

Ine six-year package, which b- 
cludes an suuiual incentive of 
$500,000 if the Jets reach die Super 
Bowl, could grow if he coaches a 
fifth year. 

The $2.4 million a year deal is 
more than Jimmy JohiLson's with the 
Miami Dolf^bs. Johnson, who is 
head of Miami's football operations, 
has a four-year. $8 million contract. 

Meanwtule. Parcells on Thuraday 
added another New York Giant con- 
nection to the team. Carl Banks, who 
played seven of his 1 2 seasons under 
ramlls with the Glams, was named 
director of player development 

Banks,a fonnerNo. I draft choice 
out of Michigan State, played for the 
Giants from 1984 to 19^. He played 
one season for the Washington 
skins and two years for the Cleireland 
Browns. 

F^rcelLs said that Ron Erhardt the 
offensive coordinator and quarter- 
backs coach during the Rich Kotite 


era. would be the quarterbacks and 
special assistant coach. 

E^rcells said he would probably 
complete his staff next week when he 
names a strength and conditioning 
coach and an offensive coordinator. 

Earlier, Parcells named Bill Beli- 
chick assistant head coach and sec- 
ondaiy coach, A1 Groh linebackers 
coach, Romeo Crennel defensive 
Ibe, Eric Mangbi defensive assist- 
ant and Mike Sweatman special 
teams. Pat Hodgson, who coached 
the Jets' tight ei^ last season, was 
retained. Bill Muir, the Jets’ offen- 
sive line coach last season, will re- 
mab in that capacity. 

Tbe Jets announce several player 
moves. They terminated the contract 
of defensive tackle Marc Spindler, a 
two-year veteran. They did not 
tender qualifybg offers to defensive 
back Eric Zomali, Vm^sacker Aubrey 
Beavers and defensive tackle Lou 
Benfatti. 

The club did not tender exclusive 
rights to Ibebacker Eddie Makm and 
wide receiver-kick returner Henry 
Bailey. 

They did tender exclusive rights to 
defensive end Bobby Hamilton, who 
started 1 1 games Iasi sea.son and line- 
backer Chad Cascadden, who started 


ei^t games. 

They also tendered qualtlybg of- 
fem to fullback Lou D’Agostino, 
quarteitok John Pact, kicker Don 
Silvestri. comerback-safety l -a gee 
Brown and tight end ’Tyrone DavLs. 


SATUIWAy-SlJNlJAy,FEBKUAKSrl5-l«,lW7 j 


Just a Game; 
The Motto 
For Baseball 

Who Needs Shoe Ads 
Rather Jhan Respect 
And a Wbrk Ediic? 

By Harvey Aiaton 

New YpNi Times Serviee 

TAMPA, Florida — One day before 
the Offiah reporting date for pitehets 
and catchers, mote than a week before 
die mandaied arrival of eveiyone else, 
David Cone wandered out of the club- 
house at the New York Yankees’ com- 
plex here and bumped mto Derek Jeter, 
who was strollbg b from one of the 
practice fields. 

“This guy must live here. Cone 
stud, grabbbg the young shortstop’s 
hand 

“Ayy.” Jeter said, “this year is no 
different from the last three years.' ’ 

*Tve been b and out of here all 
wbter,” Cone would say later. 

‘ ‘Derek's been here, working oul every 
rinw Tve been arotmd That’s amazing 
dedication for a young player, don’t you 
think?" 

Jeter, the 22-year-old teen idol and 
New York City bachelor, said he basked 
in the ch^pionship glow for most of- 
November before heading south, like a 
migratory bird. 

“Dec. 1,” he said. “It was time to 
forget eveiytiibg that happened Don’t 
get me wrong — it was unbelievable 
w inning fee World Series and being 
treated the way we were around New 
York. But it wasn’t like I wanted m sit 
feere and say, ‘1 play^ well last year, 
and itext seasm will just take care of 
itself.’ ” 

Jeter made $1 30,000 duimg his rook- , 
ie-of-the-year season, when he batted ' 
J 14, (tove m 78 runs and s{5nyed raliy- 
inducing hits around postsea^ fields 
as if bsDat wiere eqiiipp^ with ahom- 
bg deWce. Naturally, his financial fu- 
ture brightened, wife a card-show fee 
rumored to be as high 65 $40,(XX) a pop. 
And other corporate executives began 
browsbg their Rolodexes for the num- 
ber of Jeter's agent m Cleveland Casey 
Qose of fee International Management 
(jroup. 

Tbe ageiu resorted Thursday that Jeter 
has sign^ te pitch various gizmos for an 
electromes store, wiU star b a niajmrprint 
campaign for a soft drink company. 

. strata deal wife a bank to help pnHnoie 
his new foundation and will sht^y add 
fee celebrity afeiete's prerequisite for 
mez<^ getting onto fee marketing map; 
shoe and areiarel affiliation. 

On the other hand, don't look for bim 
to be plastered across televisbn screens 
eveiy other inning this combg season 
any more than Bemie Williams, the 
Yankees' No. 1 headliner. 

“Base1»U playera are a tougher 
sell," said Dose, citing two common 
refrains: labor woes and the fact that the 
alim'ghty shoe companies can’t mass- 
maitospito. 

For years, people have accepted fee 
well-substantitued cUums feat baseball 
was losbg feese celebrity consumer 
wars, mainly to basketball and football, 
thereby reduebg the significance of its 
pbyers^ — and by extension the game — 
in American culture. Tennis players 
have been bigger metchandisbg com- 
modities titan baseball players. As have 
golfers and auto racers, and the figure 
skater Nancy Kerrigan for about 15 
mbutes. p 

Perceptions do change, though, and '• 
given the historically cyclical nature of 
spectator sports, it may very well be feat 
me basebril player's ob^ous selling 
flaws are slow^ and subtly becoming a 
strength that could he^ retrench .fee 
game overall. 

For while David Stem and Phil Knight 
have turned pro basketball stars into 
glo^ icons, the haeWash seems to be 
arriving, if last weekend's Allen Iverson/ 
Generation X All-Star Bashbg b Casey 
Close’s hometown was any indication. 
Even the National Basketball Associ- 
ation's honored elders were saybg they 
couldn’t take- much more of these un- 
der^e. undexcxedentialed underaduev- 
ers who don't respect ite process. 

When Jeter, by comparison, was 
asl^ whether he felt different this 
spring now that he is an established 
player, he put up his hand and stopped 
the questioner right there. He said he arid 
his good friend, Seattle’s Alex Rodrig- 
uez, have discussed this very subjecL 
“Established?” he said. “You can’t > 
be established after one year. How v. 
many? I'm nor saybg five or six. But 
you have to be there a while, be con- 
sistent. You have to earn respea.” 
Baseball does have remaining prob- 
lems, but it also has a treasur^ asset in 
its natural peckbg order, based mo^y 
in its minor-league spawning grounds. 

As it begins what it hopes will be a 
resurgent season, with tributes to Jackie 
Robinson and interieague play and, fi- 
nally, labor peace, it should consider its 
own new marketing pitch. 

^ Baseball: just a fiin game, not a fash- 
ion show. 

The concept could be cac h ing , 

■ Belle Probation Ubely 

Albert Belle probably will get at most 
0^ year’s protetlon if major league 
omcials determine he bet only on sports 
o™r than baseball. The Associated 
Fress reponed from Cleveland. 

Ba.sebdl’s security chief, Kevin Hal- . 

jman^, is investigaiing Belle’s testimony i.” 

UKK^ball wd golf games with frieri& 
a nigh-nmking baseball officii said on 
the condition he not be identified. 







SPORTS 






fn S/wii 


Olympiakos Wins on Foul Shots 


By Ian *n)oni$en 

iMmtMiaial Herald Tribune 


The top basketbaU clubs in Greece 
are the ncbest in the worid — outside 
of Michael Jordan’s league, obvi- 
onsly. They are also hosts to some of 
wildest games, as MOan 
Thursday ni^t in Athens. 

Stenuiel Milan, one of the best 
teams in the EuroLeague. was 
by 1 point with the ball when its 
forward, Alessandro de Pol was 
whistled for a foul with 10 seconds 
1^ The referees awarded Franko Na- 
Idc of the home team, Olymiriakos, 
two game<winning free throws. 

Apparendy die call was sli gh tly 
quesbon^le. ’Hie Milan bench 
o^ered its pinion and was strock 
with a technical foul resulting in two 
more free throws for Olympiakos (9- 


6), and an 87^^ victoiy that advaiMed 
the Greek cooteodos to the playofils. 
The loss (Ud not hurt die loig-term 
prospects for Milan (1 1-4). which is 
sssured of die faomecourt advantage in 
the first two rounds of the 16-team 
playoffs. Team^stem Bologna (1 1-4) 

and Efes Pflsen of Istanbul (1 1-4) have 
also clinched the top position in their 
league groups and, wift it. homeconrt 
adi^tage in each best-of-three-games 
series leading up to the European Final 
Four in Rome chi A|»il 22 and 24. 

one game left in the &iro- 
League regular season, the best record . 
belongs to. the defending dj^npioo, 
Panathtnaikos (12-3) of Athens. But 
Panadiinaikos won’t be asA&ed of 
winning its group unless h can bold off 


vishzDg Pau-brthez (&9) of FtHoce 
nen week, itrelf desperate for a victoiy 
in the h^ of reaching the playofft. . 

If panathioaikos swmbl» at home, 
an unlikely event, thoi it could be 

^ a complid^^ tiebreJker^^ystem, 

by tiny XSVEL VUIenrba^ (11-4) 
of mnce, t^iich won at Djnoamo 
Moscow in oveitune this week. 

Alba Berlin (9-6) qnalified Thursday 
for the playoffs with a 78-76 onnelHUik 
victny over vishing CSKA Moscow. 

CSKA (7-8) sdU has hope after its 
rival for TO last playoff root in hs 
noup. Maccabi-Td Aviv ^7), lost 
Thoi^y night, 90-82 at Chaderoi. 
Macc^ must win at borne nesct 
against Olymmakas. ff h loses duu 


vidthtg CharlercH, dien CSKA will 
seize Maccatn’s plane in the playo£&. 


French Rugby Team Ginfident for Wales Match 


IS 




iiin 


Reuters 

PARIS — Prance’s rugby 
confident it can shrug off the massive 
diavption to its Hve Nations prepa- 
rations and prolong Wales’s dismal re- 
cord at Parc des Princes when Ae two 
countries play Saturday. 

D^ite losing five key players to 
injuries and a sixth to suspension s ince 
the team’s 32-15 victory over Ireland on 
JaiL 18 in Dublin, the French 
Jean-Claude Skiela, is upbeaL 

“Given the circumstances, we’ve put 
together the best possible team and it 
has been a pleasure to watch the players 
train,’’ he said. “They want to win 
badly, you can see diat” 

E^e Ntamack, Thomas Cas- 


i, Alain Peiuud, Fabien Galthie 
pe Benetton have all with- 
drawn with various injuries, and Franck 
Toumazre has been banned from tbe 
match for violent coodua in DubUn. 

Bm die FrgmA flanker imrirapTatn Ah- 
del Beoazzi said he was UDCcmcecned. 

“All those injuries have brought us 
even more closely toged^,’’ be said at 
Prance's training can^ in a forest near 
Paris. “The guys will give tbdr all, 
there’s DO doiuiL*’ 

Prance has impressive streogdi in 
depth, with die iiktt of winga T^urenf 
I e-flanwiH, scTumhalf Philippe Ca r- 
bonneau and fl anker Richari Castel 
eager to prove they are more than mere 
substitutes. 


Tbe powerful center Richard Dourdie, 
whose goaUdddng duel widi Neil Jeo- 
Idns co^ be key, said he feared d» 
Welsh more than the En gUsh. 

“Wales is a fine combination of 
power and talent,” he said. 

“They are an exdting team with 
strong forwards and gifted backs,” he 
aH/ted , *^a bit lik« US, acQialty." 

Wales not won in Paris smee 
1975, but die team scored three tries 
against France in a40-33 friendly match 
in Cardiff in September. 

“1 think we’ve got a great chance.'* 
aaid lock Gareth Llewellyn. “Several of 
thdr key players are inju^, and it 
doesn’t matter how good a side you are, 
that is bound to have an effect ” 


Devils Extend 
Unbeaten Run 
By Stopping 
Whalers, 4-0 


The Assoelated Fresf 

Brian Rolston scored twice and Mar- 
tin Brodeur had 20 saves as the New 
Jersey DevQs stretched ibeir unbeaten 
streak to nine with a4-0 victory over the 
Hartford Whalers. 

The shutout Thursday night was Bro- 
deur'sfiftiiofthe season aim 17th ofhis 
car eer. It stretched his own unbeaten 

NHL Ho«ndd» 

screak to lOgames (7-0-3) and tied him 
with Chris ’Irerreri for most career wins 
by a Devils goalie, 106. 

Bobby'H^k and Steve Sullivan also 
scored as host New Jersey handed the 
Whalers their third toss in a row. 

nyw«4, SaMterm 2 John LeQair set 
up a pair of tMnt-period goals as host 
Phila^lphia defeated Ott^a. 

LeClair helped to snap a 2-2 tie when 
he set up a gobl by Mikael Renberg ai 
7:10 of the thi^ About two minutes 
later, LeQair fed Joel Otto in the slot for 
an insurance goal. 

MacUwwfca 7, SIimIls 3 In Chicago, 
fo rmer Sharks Chris Terreri, Mlchal 
Sykora and Ulf Dahlen had strong 
ernes against tbeir former team and 
Gary Suter scored twice as the Black- 
bawks defeated San Jose. 

Sykora, Dahlen, Jeff Shantz, Eric 
Daze and Sergei Krivokrasov had gc^ 
in the Blackhawks' highest-scoring 
game this seasoiL They entered the night 
witii only 143 goals, tied with San Jose 
for second-fewest in the NHL. 

Terreri made 22 saves, and Sykora 



Ottawa's Jason York getting dumped by Eric Lindros of the Flyers. 


and Dahlen added an assist each in their 
first home game since the Blackhawks 
acquired thm from San Jose in a trade. 

Mum 4, Hangars 1 The host Blues 
made Wayne Gretzky’s first trip back lo 
Sl Louis a bad experience, extending 
his slump without a goal to 1 8 games in 
a victory over the Rogers. 

Brett Hull got his 33d goal for the 
Blues, who are 9-5-2 under their new 
coach, Joel QuenoevilJe. Scott Pellerin 
scored the third shonfaanded goal al- 
lowed in two games by the Rangers and 
Craig Conroy pitched in with two as- 
sists. 


Awalaneha 3, Coyotes 2 Sandis 
Ozolinsh. the NHL'sgoal leader among 
defensemen, scored twice in the second 
period to give visiting Colorado a vic- 
tory over Phoenix. Valeri Kamensky 
had the other Colorado goal. 

Ftomos 3, Oilsrs 2 Robert Reichel's 
power-play goal at 2:20 of overtime 
gave host Calgary an ovenime victory 
over Edmonton, the Flames’ fourth 
straight triumph, 

Mapts Lsafs 4, Kings 4 Sean O'Don- 
nell had a goal and two assists as Los 
Angeles rallied to tie visiting Toronto. 
The Kings took a season-high 55 shots. 


Scoreboard 


BASKETBALL 


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(Tht acwipii T U OTbhwd downMft coBed 
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and BBW. was R-9dsduled for 1 208 GMT OR 
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BrineAraourt Occaad Perio d. o-Chorake 8 


fint Putad COhuft 5 Ouls} ft C> Ooie 
12 (Sytam Sutari (pp). Sccood Putad G 
Sykora 3 (Shonta. OsM ft Sai Jok. 
HanBoad 4 (GuoUft NoiuO ft C-KrtaknHOw 
8 (Somri. Bkick} ft SJ.-tNeboOs 12 
(Howgoad K^v) ^ 7, COoMr 5 
(Dtedon Aawfdo) Tted ParkdC-Ooldtn 12 
(awOoft ZhomnoM (ppL 9. SJ..Cimy 3 
(Dconva 1 ft C4»tar6 (Sunk Xriwtaoaav) 
Shota 0B9MfcSJ.-O9-7-2SLC-1O114-4a 
CioBaj. S-UHnictey. GTenarL 
NLY.Raqpn 0 1 8-1 

ALote 0 3 

Rite Poriod Hone-Soond Porfed: Si,r 
PMortn 6 (Conroy) bh). ft SJ--MM S 
cnnom Prangto (pp). ft Nan Ybrii, 
LeoftA 1 7 (KaopoidMft Gntakyl (pp). ft ftL^ 
CainphoB 19 (T«dd Cmny) TMtd Ptrtad; 
ftL-Torgoan 16'(CQUitaota BeyeMi) tenX 
Shota 00 geoh 7LY.- 10-13-11-0ft S.U-5-11- 
6-22. crocdteTi, ILY.-R)dder. ftL-Fulr. 
Coterado 12 8-3 

Phort 1 g 1-« 

net Period GKomoMtar 19 (Young) 
(pp). ft Phoenta Ttachuk 9 Uomeyb 
Nunantaai} (pp).Stoood Period CpOcoanrii 
17.ft 0> Ondah II (Koamtai. FoieboiB) 
TIM mod Phoenta, T lu a nA 36 
(Roonlek) Shota oa gooh C- 84-12-29. 
n«enk 8-10-11^ gwriitr CpRoy. 

Phoodi, Nablbuln. 

Cdraonlio I 6 I 8-2 

ColBoiT 10 11-3 

Pint Ptetad E-SniyOi 27 (Sotuv McGSBt) 
(pp). ft OGogner If QuBhon Vltadl Seceod 
Period Nana. TbM Putod E-Sotan 17 
(Welghl RUMrtHR) ft OGovey 6 ffeury. 
Roetao) OiwibiM. ft GRolM 12 (AtaMft 
Titov) (pp). Shota oa god; 6- 1M-7-0-a G 
10-1M24-a CaiAoo E-Euen& G 

Tonato 1118-4 

0 2 3 0-4 


a) AND RHAL TEST, 1ST DAV 
MEW lEALAira va. OMUIW 
MaoAY, u CKmamuRCM 
New Zealand M Irvdi^ 229 IbrS 


RHAL 

sotJTN AnacA wa. aaxA 
rwjMOjnr, IN auRBAN. eoimr AHOCA 
SouOi Ahka 2780 ISO own) 
bids 234 riioulOlZ). 

Soitti AMcd WOT by T 7 nm. 


Un 1. ft ita ST (termdn 3 

NortBaAincmO 

aundtaOT* 1. Monoca S3 pofnta z. tak 
SA4 ft BofiaM. 4. AuosfeOl 5. BonteekB 
41.ft stnsbeugA 7. Nonei 3ft ft Meiz39.9. 
Wtantelo 34. lOLyoi 3ft lIXTutagaiita 32. 
iZJhBnei 3ft llConne 3ft UlOe 3ft 
isionelft iftLe Hane27, l7MoidpeiierSft 
36X0W1 21 . 1 944ny Tft IftlOet 1ft 


SKIING 


Would CHAMPforesMiP* 


FmoAr, n a as n«E. irAur 
1 . Morara GoOde (itoPy) one miBirtft 2&92 
Mcondi (M.T2f4lJ9). 2. Atatflw Ootar 
ISwexortond) 126J9 (4ft47AC.«), ft HHde 
Gcrg (Germcnyi ldft22 (4ftzi/4ftyiL4. Kan 
to Saoonger (Garamy) 1ML27(4S86M241). 
S. Cumwtae Borgd ISwtinrtond) 1dft3B 
(5487/041). ft SOylte Breuner (GennoRy) 
Iflftg (ASJVaOO), 7. Renata GeetaOd 
(AusMa) IdBJS (4ftZI/054), ft Anita 


■lAJOR LEAGUE BASOAU. 
AHHBCAN UEAOUe 

NSW voOK-Agned to term wtth RHP 
David VNoliwn on l-yeorcontaKl 


HAmiAI. BAOXETBALJ ASaoewmON 
IDS AJweiB LAKEaS-Pvt C Staquflle 
ONwdonbdwedBft 
TOBONTO-SIgnad F-C OHvar MKv. 
VTAH-BIgned Jeny Bleoft Esoeik to 1 -year 
aRtrad BdanetoiktliibUBh 199809 Koean. 


NAIBMAL FWIBALL ICAOUE 
NBW YORK jei8- TtendMdBd centmO of 
DTMoKSp(ndler.FaledtolmderquU)fytaB 
oflnsiD DB ErfcZoinaft LB Aubiey Beoveift 
DT lou BtnMiftWR Heny Mley and Eddie 
Meson. TendBBd eaJurive efkse to 
DE Bobby HomBoo, LB OadCBKoOdavCS 
Unc8 Brawik OB John Pod, K Den SBvastiV 
TE lynne Davis end PB Leu OAgetelnei. 


WEEK AHEAD 


SumMMT, Fe». 16 

Anunes, Lisvin, France— 
liitw iu 8 u i u Mndeofin e ei a i 8 0dba,JopBn 


PaiDAr at DUhAi QUANTEIinNALS 
JM Novoft Cnh Repuhic. doC Mdrant Kra- 
fttai Oft Ntel w i iAtat 6-2 6-Z Jim Courio'. 
U5« det IMtane Fombn (4L South AMCD 6-2 
74; Goran Iv ni d ai ric (1). Oorahi deL Bata 
BackB- (7) Gennim^ wnBovar (Bedor bv- 
|iraD;TnemaiMudaCU.AudladeLOiiV 
Wn Ruud NOMoy; 84 6-7 04) 74. 


TRANSITIONS 


— lAAF worid Dooa ChoOenoe. 
■oasftEiOH, Celgoni. Canada — Worid 

Cup ftnon event Calganb Corado 
Aino luetiM, Daytona Beodi, Florida 

— NASCAR, WiMlen Clift DoylMa SOD. 
tenomes, Cntao. Jopen — moa 

wonMaw lAAF. Crass Countiy Choaengft 

MowDdv, Feb. 1 7 

e wi ce cfc t : Horeift Oidabvra — one-day 
imeinidienab Zbnbahwe«s.lnda. 

s vN Na a i , ZuridLSwIttcricnd— FIFA, 
standtag camisBlH insLlfneSi to Feb. 19. 

TBOOS, Antweift Belgium— iMib ATP 
Tour. Eunpenn ConoiunllyaiaiwiDmMft 
to Feh. 2ft Hnimovra; Gamuny- wemeft 
WTA Tm. FOfaer Grand Pita, to Ml 2ft 
Okkihana Oy — womob WTA Tour, IGA 
Ton* CkaWb to Feta. 2ft Memph^ 
TbraMHce — oKft ATP Tour. Kip^-bl 
Ju^OBBlctoFrii.21 

Tuebpay, Feb. 18 

OiUiieB. Atasoiw— lAAFIndonr 


Riyadh, Saudi Aiobta— men, 
rTF.DavfcQiftAsla-OcBnnta Greupll, 
Sowfl Aiabto VS. LebmifL to Feh. 20. 

Wepwebpry, Feb. 1R 

»0Mft KfeUiLefft Aiiriito — men. 
rwxnokFIft FnestyleWbrUCuftPcnafcL 
■hJol noputa Doim& cambhed to Feb. Zft 
no c eg w . FrasnsCoMbrnlo — 
oMbltoiv Meadee vs. Cintamido. 

CBpo Llbertoduras 1 raund, vorioiB sues 
GROUP 1;(*uoranl (Paraguay) vs. Cenn 
Poteno {Pareguoy}; Ortento Pdrolm 
(BcOvta) ve. Bolvar (BoOvta). GROUP 2; 
Emetac (Ecuodol vs. Nodenol {Ecuodw); 
Rodng (Aigentlno) vs. vetee SosllaM 
(Aigenflno). GROUPS; IWheras (Vtawtrata) 
vs. NUnonan OmnauNta); Unh. QrioOea 
rOBe) vs. Cota Cota (Otle). GROUP 4; 
Cranhb (BnaS vs. Gcemto (BreriD; Sporting 
OtataKtaiOvftAianaUino (PenO. 
ThursdaVv Feb. 20 


AvroMCuee, imotabiialy— wosoms 
offiefats go on trial lor mnnstaugMer In 
Ayrton Seraio demh. 

MMUiiftm, StoctJiolm, Swaden— 
Rieah todoerTMr. DN Cranes. MalbounNb 
AiBtraSo — men womeiv lAAF. Grand nta 
OBSlLNECOassIC 
ceupicrr, OiiWdwi cft New Zeolraid — 
ene-doy imrandtaraft New Zealand vs. 
England. 


ntNOMO, Qiitl u ve cu i lu . Roly — Slvto 
Brancft Italy, vs Vemon Pnisips. UnNed 
5miBft12-nund bout tor Bianco^ WBU 
middlewdght title; Tekyn— HlrasM 
KamsMma, Japan, vs. (teiiv Pcnolosa, 
PhEpplneft12-ibund boul torKowoshlmo's 
WBC supra Ayweigm Htto. 

aou; Johannesbutg, South Ahica— 
PGA Eurapeen Twr. AHied DuitoB souoi 
Ahfcan PGA Onmpionshto. to Feb. 2ft 
aee.ft KapatakHoMll— women. U5. 
LPGA, Hawaiian LndlesOpea to Feb.22. 
Tucsoa Aitaona — mew U.S. PGA Tour, 
Tuoon'Ctatolc, to Feta. 23. 

BOMB. Trandhetos Nenmy— Rft 
worid Nonfle SU CAoiwlansMpb to MoRh 1 

Fbidby, Feb. 21 

mens, TOtod Tolwan — men. ITF, 
Dovta Clift Asto-Oonnla Gnup II, TMeon 
vs. Sbigapon to Feb. Zft bkniKraoiL 
nmUnn — merw IT9> Dnvb Ooft Asto- 
Oceonlo GmupIbfttatataiviLbaatoFBb. 
Zft 

oouv SonnolftRoitta— men,U5. 
Senior PGA Tour. Ameiiam Expiess 
lfirtimiwmltoPeb.23. 

StmwPAY, Feb. 22 

BKPMft Gramlsdi-Paitanklichen, 
Gennony — maiv Rft Alpine Wbild Cuft 
downlBL 

■iitKiraii. HambuiftGennanr— Artur 
Grtgertan, UztMddstaiv vs. MIdnel Ayetft 
Enghnft 12-iound bout fra Grigorian^ 

WBO BghlweIgM IWer AttanOc Clift New 
Jeney — Ariura Gotli Jr. UrtBod Stoles, vs. 
Tracy Portlefson, Unhed States 12-raund 
bout hr CoMta IBF lunior ngilwelpM «hs 
UncogrtUft Co nne cticut— Jeraes Toney. 
United Staler vs. MteMcCaMum, UiriM 
Stoteft 12-iuundbeui IraUie vacant WBU 
aulsefweloht IMe: Fori Loudsidoto Ftortdo 
— Note Milter, United Steles, vs. AteonWe 
Gurav, Ukraine. 19-raund boiil tor MBterts 
WBA outeenvelght Ntlw Prank LBes, United 
States, vs. Segundo Meicoda Equodor. 1 8 
raund beuttor Liles' WBA super 
mMdtewelpMIMe. 

cmLcnea, NolrebtKenyo- men, 
woneiv lAAF, Crass Country Choltenga 
Athens. Greece — UMF Indoor meet 
vcewiumNO. innsbraduAusMo- 
men women. ISU. Wbrid Cup, to Feb. 23. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



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PAGE 2 


INTERNATIONAL WTOAT.n TRIBUNE, SATURPAY-SUND^ff, FEBRUARY 1-2, 19 ^ 


PAGE 20 


I Fhe can't play loud, Elton J(Ain*s not 
playing. *nte rock star has puUed out 
of two concerts in Htxig Kong to mark 
the end of British rule because local 
officials wouldn't budge on noise re- 
strictions. They had even suggested that 
fans at the back of Hong Kong’s 40.000- 
capacity open-air stadium could listen 
on eai^ones. John's agent, Simon 
Prytherch. said a noise-level "waiver 
was instrumental to negotiations ... it 
will therefore be impossible to stage the 
concerts." The stadium, the only suit- 
able venue, has a 70-decibel noise limit 
— paltry by the standards of the flam- 
boyant singer. The concerts were sched- 
uled for June 28 and 29, just before the 
handover from Britain to China. 


"Words can't describe how 1 feel," 
said Michael Jadtson about the birdi of 
a .son to his wife. Debbie Rowe Jackson. 
‘T have been blessed beyond comf:^ 
hension and I will woilc tirelessly at being 
the best father that i can possibly be." ‘T 
a(^reciate that my fans are elated, but I 
hope that everyone respects the privacy 
that Debbie and I want and need for our 
son." Jackson added in a statement ‘T 
grew up in a Osh bowl and 1 will not allow 
that to happen to my child. Please respect 
our wishes and give my son his privacy." 
But already, tiw tabloids are out for a 
photo. "If it's good quality, a shot of 
Jucko. Debbie and the taby — where we 
could .see the baby's face — it could 
bring $500,000." said the National En- 
quirer's editor. Steve Coz. 


“Star Wars" surpassed "E.T. — The 
Exirjierrestrial" to reclaim the all-time 
No. 1 spot at the box office, and became 
the first film to break the $400 million 
mark. Twenty years after its inldal re- 
lea.se. and two weeks after its reissue 
with several minutes of new scenes, 
George Lucas's ' 'Star Wars’ * has taken 
in $400. 1 million. Steven Spielbei^, the 
director of "E.T.." saJut^ Lucas by 
placing an ad in Daily Varie^ that read: 
"Dear George, Congratulations for re- 
newing the most enduring motion pic- 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, FEBRUARY 15-16, 1997 


PEOPLE 


ture in cinema history. Your pal, 
Steven." Lucas is re-releasirtg all thrM 
installments in the "Star Wars" trilogy. 
"The Empire Strikes Back" and 
mm of the Jedi" come out Feb. 21 and 
March 7 respectively. 


Julia Roberts got an award and a lot 
of anention at Harvard. "Julia, will you 
many me?” a student yelled as the nim 
star rode through campus in the buk of 
a convertible, flanked by two Harvard 
men in drag. Roberts was at the school to 
accept the Woman of the Year award 
finom the Hasty Pudding 17163010318 
group. Hasty Pudding awards are given 
to performers who have made a "luting 
and impressive contribution to the 
world of entertaimnent." Mel Gibson is 
to be honored next week as Man of the 
Year. 


Alan Parker, the director of the film 
"Evita’ ’ who was snuMied in this year's 
Oscar nominations, says the movie's 
reception in Argentina is what remiy 
matters. "This is the most important 
country for me." he said. "I hope every- 
body likes it." "Evita" premieres in 
Argentina next week. During Aiming 
last year in Buenos Aires, Parker and his 
cast were given a frosty receptlmi by 
some who oppos^ Madonna playing 
the part of Argentina's former fiist lady. 
Madonna, who proclaimed herself 
Academy Award-worthy for her starring 
role, was denied an Oscar nomination, 
and the film was passed over in the best 
picture and best director categories. It 
won nominations for art direction, cine- 
matogr^hy, sound, original song and 
film Siting. 


David Duchovny and Gillian An- 
derson are TV’s most romantic cou^e, 
Internet surfers say. The stars of "'hie 
X-Files," who play FBI agents inves- 
tigating the pai^onnal, teven't even 
shown romantic inclinations toward 
each other, but they topped the informal 
poll on DirecTV's web site for die past 


month. Voters — more than 70 perant 
of them male were presented a list of 
20 TV couples spannmg more than diree 
decades. Runneis-up included Ted Dan- 
son and Shelley Long from "Cheers," 
and Larry Kaunas ^ Barbara Eden 
from "1 Dream of Jeannie." 


Whoopi Goldbo^ finally got to take 
home the burned and banet^ cat she fell 
in love widi last October. Goldberg de- 
cided to adopt Frankie after she saw a 
newspaper photograph of the feline after 
be was rescued from a fire, looking frail, 
singed and with a broken leg. The cat 
spent months in a shelter recuperating. 
Frankie is not to be confused with Scar- 
the cat who heroically plucked her 
five kittens, one by one, oom a burning 
building last year. Those cats were also 


A Valentine's Day concert in Beirut 
by Jose Carreras was postponed be- 
cause the Spanish tenor wants to be at 
his ailing father’s bedside at a Bar- 
celona, Spain, hospital. Caneras asked 
the organizers to delay the Friday night 
concert after bis father lapsed into a 
coma, said an official at Murr TV. a 
private Lebanese television station co- 
sponsoring the event. 


Bill Cosby proved something during 
a television cooking demonstration — 
he serves up jokes better than dinner. 
The comedian, whose only son was 
slain last month, fulfilled a long-stand- 
ing date to do the cooking spot on the 
"Fox After Breakfast" ^ow. Cosby 
actually did less cooking than wise- 
cracking while a romantic fish dish was 
prepared around him in the kitchen of a 
New York restaurant he frequents, En- 
nio & Michael's. “This is looking very 
difficult,’’ Cosby observed, “we're 
talking about a Mrson who has never 
really cooked before, trying to do this." 
"So they take two extra minutes,' * said 
one of the chefs. "And FOUR extra 
fish!’’ Cosby replied. 



Of Smiles and Philosophy 




FRAP] 


Iiaematicnal Herald Tribune ^ f. '. ^ ' 

P aris— H is name ison 
a plaque in the Theatre 

Essaion(leI*arisal(mgwitfa * • 

such native French play- n ‘ 

wrights as Jean Genet ara I 
francoi^one foreigners 
like Arrabal and Ionesco. 

So Alan Rossett, from De- ^ 
troiL has peitiaps passed 

MARYBLUME 

from being a struggling 
playwright to a ccmse- 
crmed one. Never, he says; . 

"All playwrights are Strug- 

The fvoblem of course is Qk ^iFRw^ 
money although Rossett is * M.wm a 
deft at raising the modest 
sums needed to put on his * 
plays in tireateis often so 
small tiiat he uses die um- 
brellatentibijoutodescribe 
them. Early in his career 
when be put (XI a couple of 

plays durmg the pre-dinner PIaywrig|it Alan Rossett: Sti 
hour in a showbiz restaur- 
ant he got me iqieritif manufacturer diough 80 can be sq 
Suze to supply free drinks; for his new essaiy as Rossett boj 
play, ‘ ‘Pudiw et Outrage," his bacdsers describes the play as 
include a French brokerage firm. aboiu "die schism 

In the world of bijou, as compared to throughout dieir lives 
commercial or subsidized diea^, Ros- and-tbe souL die diffu 
sen has a devoted following and those patchwoik together." 
critics wbo do come praise his surreal Originally the m 
comedies, ^ter and Lewis Carroll Auvergo^butRosse 
have also been evened, and he has been an American expatrir 
describ»J as the missing fink in foe to Michigan. 'The fen 
Beckect-Tonesco-Arrabal chain. “Coc- are only two actors 
leau meets Woody Allen," said one dozen roles, 
director. “It's something I c 

"I'm well known in the profession sen noted foriftily. 
but I haven't entered the establishment Itistheoiothpnxh) 
of subsidies, which isn't that unusual, company. La Tresse, 
When Orsen Welles was interviewed in a long time to be si 
and some(xie very different lilre Gian- where he has lived si 
Carlo Menotti was imerviewetL all In New York in th 
they raUced about was how difficult it with foe Living 'Ih 
was to get money. If it was hard for rook over a deparan 
them, it’s certainly so for me. Each off-Broadway and v 
time, you simply do not know." years writing novels. 

Id 1989 the niagaziiie Les Temps for me. 1 write good 
Modemes (founders: Jean-Paul Saxne write good narrative 
and Simone de Beauvoir) delivered a deistand foe novel ir 
solemn exegesis on Rossett's absurd deistand how a pla; 
lo^c which was found "tres emglo together, a novel no.' 
saxon” And more recently he became He hasn’t been ba 
foe first American playwright to van an since 1974, when lu 
award from the Centre Natkmal des plays massacred wit 
Let^. thou^t I really must 

"They loolrod back in their archives this situation. Mayb 
andIamthe(xilvone,*'Rosseasaid."lt writing in french. " 
doesn't mean rm veiy good but I am It didn’t happen q 
unique.” foat, he admits, but it ' 




Playwriglit Alan Rossett: Still stniggliag in Paris. 

Qufacturer foough 80 can be squashed in if nec- Ma| 
or his new essaiy as Rossett hopes it will be. He liter 
Js bacdsers (tecribes the play as a Uting comeefy Cen 
iim. aboiu "die schism foat people have “ 

imparedto throughout tiieir lives bet^en the body at b 
iater, Ros- and-tbe souL foe difficulty in putting die thou 
and those patchwoik together." like 

tiis surreal Originally the male lead was an me t 
is CanoU Auvergn^ but Rossett changed him to told 
B has been an ^nerican expatriate returned home wha 


^ ^ tually written the same pfci^’ 

twice." 

Rossett jays his spoken 
French depeiras on his stale 
of l^guc and his sinuses, 
itr « and li& most- of us he is 
cute di mumbling through 
' foe distinction between 
masculine and feminine 
. nouns. But writing, except 
. for busines.s letters, is no- 
SV probiem and Le Figaro de- 
scribed him as "an .4mer- 
- • icain eiui dcrit dans un ad- 

^ . arable francais." 

A surreal mode. Rossett 
. is natural for a play* 

'V' . Wright working in anotiitf 
).; • language. “Pe^Ie writing 
> in a language not their own ' 
put away the things that we 
don't liave the historical 
backgrcmndfwandiiiostof 
us are surrealist because 

jHHm Rossett at this point 
knows the Paris theater 
uris. much better than New York 

although a 19^ play, “La 
Magicienne," was based on fos having 
literally bumped into Karen BUxen in 
Central Park. 

“It was in the 'S0s.5be was Itrokine 
at birds and I was looking at her. T 
thought afterwards if I hadn't lun away 
like a young idiot she would have taken 
me to where she lived, she would have 
told me all the secrets of creation and 
whatnot, and that is the basis of ^ 


to Michigan. 'The female lead — there play. " 


plays a half 


‘ ‘It's something I do a lot Ross- 

sett noted tiiriftily. 


In Paris there aren't the problems of 
New York or London wifo actors' uni- 
(xis; i^nts hardly exist and the all- 
powerfrii figure is the director ai 


It is the ninth pnxhiction of Rossett’s theater where one hopes ro play. Over 


company. La Tresse, and his first play 
in a long time to be set outside France, 
where he has lived since 1 961 . 

In New York in the *50s he worked 
wifo tiie Living 'Theifoe when they 


foe years Rossett has subsidize him- 
self by doing English language ver- 
sions of son et lumiere spectacles, 
acting (he is at present playing an Eng- 
lish colonel in a work by Celine), 


rook over a depaitm^t store, played sometimes by dubbing, films. He not 


off-Broadway and wasted about five 
years writing novels. ' 'That form is not 
for me. 1 write good dialogue, I don't 
write good narrative and I don't un- 
derstand the novel instinctively. 1 un- 
derstand how- a play shcnild be put 
together, a novel no." 

He hasn’t been back to New York 
since 1974, when he saw two of his 
plays massacred within 10 days. “1 


only writes and directs and prodnees 
his own plays but designs the posters 
and often the decor and handle the 
publicity. 

He smiles a (ot and the actor Mtchael 
Lonsdale has said that his plays are full 
of a “pJii/oisqplue souriemte.’' 

“Yes, tile people have a lot of an- 
guish but they usually get saved I'm a- 
comic writer and th^ are usually 


thou^t I really must find a way out of menaces of tragedy all over the place 
this situation. Maybe I should start but they somehow do get saved 


writing in french. " 

It didn’t happen quite as siiiijdy as 
tiiat, he admits, but it was easier he 


“1 believe the world is a very difScDlt 
[dace and (xie fi^its and 1 feel very ludey 
in terms (Mr where I could have bera bom. 


“Pudeur et Outrage." vtiii(fo Rossett expected One of his early French plays and the miUi(Xis of people who have 


Jobs Mitam/Afgairt hnnn-iVcDc 

Julia Roberts riding around Harvard Square in a convertible with members of the Hasty Pudding group. 


calls “Bad Mannox" in English, will 
run from March 5 to April ^ in a 
vaulted basemeat at ihe Theatre £s- 
saioD, which used to be part of a coach- 
ing inn and terminus m tiie Maiais. 
Thm is room for M spectators, 


took only a week to write. The joy was 
somewhat punctured a few years later 
when Rossett, going tivough old papers, 
found he had written almost the same 
play in English and forgotten it "No 
woffiler it came (Xit so easily. I'd ac- 


suffexed The fact tiiat 1 haven’t always 
been aUe to get my plays (XI and that I’m 
not a wOTld-famous celebrity strikes me 
as not particularly imptxianL I'm. voy 
lucl^, as many people in this country 
are," be said 


fort;-'"'" 

four ' 




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These Are Exciting Times for J^getables 


M iami — Two dramatic recent de- 
velopments have demonstrtued 
once ^ain, why these are such excating 
times in which to be a vegetable. 

Fex openers, scientists have finally 
realized one of humanity's oldest 
dreams — creating, in the laboiauxy, a 
potato that commits suicide. If you don’t 
believe me you should dig out your Oct 
24, 1996, issue of A^hine Design 
magazine and check out foe article <xi 
page 139. sent to me by alert rear^ 
Maik Mieike, (xmeeming work being 
d(me by leading ptxato scientists in Co- 
logne. which as you know is a ci^ in 
France (x* Germany or possibly Bel- 
gium. 

But wherever it is, Cologne ctmtains 
Che Planck Plant Breediz^ liuBiaite, 

' where scientists have been messing 
anxiiid with potato genes. Genes are 
litde items that are found in every Ihriag 
titing exc^ Senates Alfcxise D'Axnato. 
As most of us recall from Uology class, a 
gene can be either "dominant" or "re- 
cessive," depentling on u^ch type of 
gene it is. Vlfith this Imowledge and a pair 
' of vety tiny pliers, senentists can alter the 
genetic stnictore of a living thing, and 
me Cologne scientists have modified a 
potato so that, if it catches a fungus 
Hiwasw, it will cause itself to die. 

'The questuxi is: Is it morally ri^c to 
maire potatoes commit suicide? Pota- 
toes are, after all. liimig oiganisms that 
perfoim foe same basic life fiiiKxions as 
humans — growing, reproducing and 
purchasing stale-lott^ Qckete. Can we 
l(X)k a potato square in its eyes and say 


foal we have foe right to "play god" this 
way? And once we do this to potatoes, 
whu is to stop us from doing it to ofoer 
species? Eve^ day, in TV commercials 
and magazine advertisements, we see 
close-up color pictures of the feet of 
human beings who are suffering from 
the heartbreak of toe fungus. Are we 
going to Starr putting suicidal pot^ 
genes into these people? I hope so, be- 
(ause those pictures are disgusting. 

We also need to give serious thought 
to the issue of radicchio. I don't know 
^ut you, but 1 hate it when I (xder a 
salad, and instead of some nice, grem 
lettuce, I get these scrawny sprigs of 
radicchio, which is Ita^m for ‘ ‘tastes so 
bad that even a starving goat spits it 
out." If we’re going to tnake ANY 
v^t^le suicidal, fois is vfoere we 
should start. 


But enou^ about kiliing vegetaUes. 
What about tire odier side? What atxxit 
the issue of HEALING vegetables, 
cifically tomatoes, through prayer? 1^ 
issue recently was the svmjM of an ex- 
periment, which 1 absolutely swear 1 am 
not mdd^ up, conducted by Jay fograin, 
wbo does a sdence show <xi the Dis- 
covery Channel on f>p^ian TV. 

According n newspaper articles sent 
in by several ales Cimiuiiitn readers, the 
ftTperiTTient involved six tubs ctf toma- 
toes, some of whidi had hten punctured 
and infected with tomato bli^it. Some of 
the tomatoes were visited by healers, 
xtfoo, acccxding to Ingram, direct^ 


“healing thoughts" toward them. The 
public was also invited to "think power- 
nil healing tiioughls when the tomatoes 
are periodically shown on your TV 
screens.'* 

The results, acc(xding to the show’s 
World Wide Web site — http:// 
www.stemneLnfxa/(tilde>yliu/to- 
mato.btml — were as follows: 

"In foe three tubs tiut had good 
thoughts sent to them, the average size of 
the w(Mind was virtually the same as die 
wounds (XI the tomatoes in the c(xitrol 
group. However, of the three tubs of 
tom^oes prayed for, one tub was in- 
teresting in that the size of the wounh 
was the smallest of tiie six tubs. What is 
the explanation for this? Is it sin^ily 
bioloigi^ variadoa? Or, is tiiie 
stxn^iing else at work here? More 
tightly ccxitroUed experiments would 
need to be ctmducted to expltxe diis 
(Mitcome." 

So there you have it: A definite “We 
don’t know" from the groundlxealdng 
Canadian tomato-prayer ejqierimenL 
The Web site d^ not say what 
hqipened ro die tomaroes, but it would 
not surprise me in the least to see them on 
TV advertising their new psjtobic hot 
line. 

Meanwhile, all this researdi has 
aroused my sdentific curiosity. 

I’m going ro go oondua a tighdy 
controliM experiment to see what 
pens when you put ketchiq) on friK. 
my for me. 

CJ997 The Miami Herald 

Distributed ^ Tribune Media Services Jnc. 


Love Letters and Kisses From the Heart of Texas 


1^2-97 


By Sue Anne Pressley 

• Washington Post Serviee • 

V ALENTINE, Texas — There is only 
one paved street here, and the old 
adobe houses are browned by the wind 
and sun. Sooietunes the lone restaurant 
is open, but more often it is locked and 
dark. The cars whiz by on Route 90, 
alw^s headed somepla^ else. 

hraybe it is true thtt Valentine — pop- 
ulatUxi 200. TnHuHirtg foe donk^ — 
does not seem like one of ^ worid’s 
romantic hot spots. But tell tiiat to the 
postmaster, Maria Carrasco, whose one- 
room post office has been delu^ with 
30JX)(J Valentines sent to obt^ a hearts- 
and-turttodovepos&nark. On fois holiday, 
like no other, vaiaitine gets to shine. 

The red and pink evelopespourin frexn 
Denmark and Dallas, Panama and Paris, 
Texas, New Zealand and New Ymk Qw. 
Next dexx* at die Vakndne Groc^, foe 
(xUy srore widiin 30 miles, Andrea 
Bears sells htxnemade greetings from 
“the litde rown with the big heart" Over 
at the elementary and high schools, ufoere 
the sdiool colcxs are of course and 
white, n(Xie of die 6S students are present 




tod^ — in Valentine, this is an official 
holiday. “Oh, itjustke^ getting bigger 
and bigger," said Mi^ Jesus (Cb^) 
Calderon, 46, vfoo is ca£ted upcxi this time 
of year for numerous radio interviews 
abc^ tiie romantic nature of the town and 
its citizaas. “We do have two Lo%«rs* 

Lanes in town. One is over near the water 
tank out behind the bnfoes, and tiie oth- 
er's on the other side of tiie railroad 
tracks. The dmxity sheriff does patroL" 
If not for Valoitiiie's Day, Valentine 
mi^ well have no claim to fama. The 
trams tiiat gave tills town its reasem ^ 
being — and its name — no longer stop 
here, just rumble tiirough, sounding then 
kxiesome whistles as they (nn through the 
mountains and tiie rancmands. It was on 
Feb. 14, 1882, foat the Southern Pacific 
Railroad crew, building east, reached this 
site and, for a time, the rown was a 
shipping point for local cattle ranchers. 
But now it is filled wifo railroad retirees, 
and the childrea of Valmume. once they 
finish school, have litde choice but to 
leave. For those who remain, however, 
there is much to appreciate. "You can 
leave your car unlocked and actually 

ctxne bade and find an auroimibUe,' ' said 


Alex Arnold, vfoo retired here from fil 
Paso. “There's never any smog and die 
stars sparkle so much at nigh t you feel 
like you can reach out and touch them," 
saidRutii Clark, 63, who cang herself^ 
townmiise. 

“We're all closely related, or real 
g(X)d friends," the maytx’ said. One of 
(he two town council members is also bis 
uncle. Caldenxi summed up the town 
politics this way; “Nobody wants to nm 
against me. OiiM in awhile, a brave s(xil 

says he will and I say, ‘ Ycxi ckm't need to. 

ru give it to you.' But they always back 
down." he said, rafoer regretfully. 

In 1983, D(iris F^lley, the Wner 
postmaster, began hand-stamping a few 
Valentines wifo a special he^-sh^ied 
postmaric, and after a fow well-pl»^ 
televisi(xi feaxures (» foe Uttie town, 
jumbo envek^s began arriving in early 
February each year, filled with cards to 
be stamped and sent (xi their way. 'The 
record year came in 1994. with 39.000 . 
pieces of mail. Now the local school- r 
children desim foe Valentine stamp 
each year, and celebrities as varied as 
O J. Simpson and Chelsea Clinnxi can 
expect a Valentine from Valentine. 


Ifni'S Crii’:- 

^ health m/ 


■Sr 

st