Skip to main content

Full text of "International Herald Tribune , 1997, France, English"

See other formats



< .l- r. 

1 • V- ' - V 


\. ,< 








l;- t 



INTERNATIONAL 



(tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


phe World’s Daily Newspaper 


** 


Paris, Friday, January 3, 1997 



No. 35.409 




: : -1% 
:-S: 


■<s»< 


'■5-i 


"-C; 

-^JsV 
’ vH. 

' ^ Cl 

: H..s 


- ' Lv j . 


' be 


'idsfc.. 

'V 

.i--, i.' 


i4 Mystery for 1997: 
Is Dollar on a Roll? 

U.S. Exporters Feel the Pinch 


By Jonathan Fuerbringer 

New York Tima Service 

NEW YORK — The’ dollar's rally 
last year against its two main rivals — 
the yea and the Deutsche maxi: — 
pushed the TLS. currency up far 
enough that American executives have 
begun to wary again about its impact 
on competitiveness, sates and profits. 

The dollar was bolstered in 1 996 by 
lower interest rates in Eorope and Ja- 
pan and better economic performance 
in the United States than abroad, both 
of which attracted foreign capital. - 

The outlook for this year is mixed. 
But even forecasters who see the dollar 
treading water this year say factors 
already in place could well move it 
higher toward the end of the century. 

That raises a question: Are U.S. 
companies ready to deal with a 
stronger dollar? 

Van Bussmann, chief economist at 
Chrysler Corp., said U.S. automakers 
had become quicker on their feet, a 
change seen throughout the country as 
U.S. companies improved their com- 
petitiveness over the past decade. 

But Mr. Bussmann said he was not 
sure Americans were as nimble as the 
Japanese, who have made an art of 
surviving a strong yen by cutting 
costs and bolding back price in- 
creases. “Maybe on average we can- 
not change as rapidly as the Japa- 
nese." be said, adding that most U.S. 
companies could not match Toyota 


Motor Cap.’s ■ recent cost-cutting 
turnaround with its Camry model. 

He expressed concern that a weak 
yen would augment Japan's cost-cut- 
ting advantage, adding to profits from 
sales in the United States and making 
it even easier for Japanese carmakers 
to avoid raising prices. 

Jerry Jasmowski, president of the 
National Association of Manufactur- 
ers, is also worried that U.S. compa- 
nies might have trouble with a 
stronger dollar. 

“I think that despite the revolu- 
tionary changes American manufac- 
turers have made to put them in a low- 
cost position, they are not adequately 
1 to (teal with a yen of 1 15 and 
r,” he said 

The dollar ended 1996 at 1 16 yen, a 
rise of 12 percenr on the year, and 
some forecasts for 1997 call for it to 
continue to rise. 

Mr. Jasinowski said he was less 
concerned about the dollar’s rate 
against the mark — the U.S. currency 
mushed the year up 7.3 percent 
against it, at 1 3415 DM — but he said 
a further strengthening would pres- 
sure U.S. companies. 

President Bill Clinton and other 
U.S. officials should pay close at- 
tention to exchange rates, Mr. Jas- 
mowski said, as “both Japan and 
Europe are looking to export their 
problems to the United States by ma- 

See DOLLAR, Page 1 2 



Serbian Bishops 
Assail Milosevic 

Church Calls on Government 
To Respect Election Results 


By Michael Dobbs 

Wiahin/Shvi Post Seniff 


’■ ■}*•*. -v," ; 

iftrr?'- 







•w M 






SMSassaT'i- 


a n c tweyna tTttr . rgqr TiMpan^int amasses 







* 


UuM RdXMVTlK A>MCUKd PKS9. 


PARIS, WHEN IT FREEZES — A woman crossing above the icy 
Canal de 1’Ourcq on Thursday as the temperature dropped to minus 
10 degrees Centigrade (14 degrees Fahrenheit) in the French capital. 




As China Takes Off, Millions Feel Left Behind 


By Steven Mufson 

Washington Post Service 



BEIJING — In broad strokes; the Chinese character 
for “demolish" is painted in white on the aide of the 
house where a retired rubber-factory worker, Tao 
Dechun. has livedfar 40 years beside central Beijing’s 
picturesque and tranquil Hooted Lake. . 

Soon m&n with sJecfeehammers will tear apart Mr. 
Tao’s modest courtyard house, rapping down its grace- 
ful sloping tileToof and understated gray bricks. Mr. 
Tao and his family win have to pack up their pet 
songbirds, beds, bicycles and die other flotsam and 
jetsam of a humble life. They will cart off the be- 
longings — along with their more recently acquired 

Beijing’s distant, less ctmvMti^^ibtubs. 


The Tao family is being forced to make way for 
richer people in the new China. The Three Seas real- 
estate company, a unit of the municipal government, is 
demolishing old Houhai houses and evicting residents 
to build $3 million to $8 million luxury homes that will 
be sold to foreign executives as well as Chinese who 

Last of a series . . . . 

have struck gold during the economic changes of the 
past two decades. 

“The government doesn't care about the ordinary 
people anymore,” said Mr. Tao, 61. who receives a 
pension of $50 a month. His new apartment will be 
more spacious but far from the lake, the old neigh- 
borhood and friends; his rent will rise tenfold; his 
children will face long commutes, and his grand- 


children will transfer to inferior schools. Mr. Tao’s fate 
points to a wider issue: As China and other developing 
nations join the global economy and make great strides 
in reducing poverty, new tensions are building. 

Hundreds of millions of Chinese like Mr. Tao are 
better off than they were 20 years ago. but many of them 
remain dissatisfied, buffeted by modernization, jealous 
of others' greater fortune, worried about rising crime 
and fearful that they will tumble back into poverty. 

Above all, development has created a conspicuous 
divide between rich and poor in some countries, in- 
cluding China, and worsened it in others. That income 
gap separates people in China and around the world as 
sharply as any border or ideology ever has. 

The growth in inequality is inextricably linked to the 

See CHINA, Page 4 


GM Bets $2 Billion on Becoming China ’s Henry Ford 


By Sandra Sugawara 

Washington Post Service 


BEUING — “As soon as a man makes some money,” 
said Yong Ho, a young hold employee in Beijing, “the 
first thing he thinks about is buying a good car.” 
General Motors Cop. knows that these days China 
is a country with seemingly endless numbers of people 
“making some money.” As incomes rise and af- 
fluence begins to take hold, GM is poised to launch a 
daring $2 billion investment program aimed at draw- 
ing in milli ons of Chinese like Yong Ho, who is 27, 
when they start shopping for their first cars. 

Last year, GM beat out Ford Motor Co. in a com- 


petition to team with a Chinese company to build 
medium-sized sedans bere in facilities as modem as 
those in the United States or Japan. Now GM is in final 
negotiations on terms of that deal, which calls for it to 
start making cars in Shanghai in 1998. The company 
says it is confident a full accord will be reached. 

“In 20 years, the automobile market in China will be 
larger than the market in the U.S.,” predicted Rudolph 
Scwais Jr., president of GM’s China operations. 

It seems an outlandish claim. But as China’s econ- 
omy grows year after year, practically every major car 
company is thinking back to the way Heniy Fond got 
rich: selling cars to the masses of a newly industrializing 
country, the United Stales in the early 20th century. 


GM, however, is coming to the game relatively late: 
many of its competitors have been setting up car plants 
and building cars in China for years. 

Aware of their enthusiasm, the Chinese government 
is playing the car giants off against one another, leading 
to a competition over who can inject the most money, 
newest technology and most sophisticated manage- 
ment skills into China’s own dilapidated car industry. 

Not a few fortunes have been lost over the years 
through plans to mass-market goods to China's cit- 
izens, who now number about 1 2 billion, and already 
criticism is arising in the industry that GM has given 

See GM, Page 4 


BELGRADE — The long-docile 
Serbian Orthodox Church on Thursday 
issued its strongest attack ever on the 
regime here, accusing it of "crushing 
the will of the people" and fomenting 
civil strife to remain in power. 

The statement was issued by the lead- 
ing bishops of the church following an 
emergency meeting of the Holy Synod 
in Belgrade. It coincided with the re- 
sumption. following a one-day New 
Year break, of opposition protests 
against President Slobodan Milosevic 
for election fraud. 

The church statement called on the 
government to "respect the results" of 
local elections held Nov. 17, and added. 
“This is the only way of restoring our 
people's faith in a peaceful and better 
future.” 

An international fact-finding mission 
led by Felipe Gonzalez, the former 
prime minister of Spain, concluded last 
week feat the opposition had been un- 
justly deprived of victories in Belgrade 
and 13 other Serbian towns. 

The stinging rebuke by the Orthodox 
bishops contrasted with a generally 
passive and even approving stance by 
the church toward the Milosevic gov- 
ernment in the past, and with the 
church's failure to condemn the three- 
and-a- half-year war in Bosnia-Herze- 
govina. While its immediate political 
impact is unlikely to be veiy great it 
comes as a morale-booster for the op- 
position, which is looking for ways of 
maintaining the momentum of its 
protests. 

The number of people on the streets 
has declined over the past week, partly 
due to the bitter cold and partly because 
of an intimidating police presence. For a 
time, it seemed as if the opposition 
might have trouble keeping the demon- 
strations going beyond New Year. 

The crowd Thursday, however, was 
quite respectable: 10.000 to 1 5.000 pro- 
testers gathered in the central Square of 
the Republic to hear opposition leaders 
promise that 1997 would be a "turning 
point” for Yugoslavia. On Wednesday, 
there were no opposition protests, but 
thousands of students marched on Bel- 
grade television to denounce its virtual 
blackout on news of the protests. 

(n their statement, the church leaders 
said that the government's failure to 
resolve the six-week political crisis 
made it necessary For them to speak out. 
They accused the regime of “impov- 
erishing" the nation and “betraying" 
the centuries-old Serbian population of 
the Krajina region of Croatian who fled 
their homes last year following a suc- 
cessful Croatian military offensive. 

Mr. Milosevic gave both military and 
political support to the Krajina Serbs 
when they rebelled against Croatian au- 
thority in 1991 and established their 
own autonomous government. 

But he did not lift a finger to help 
them last year when it became clear that 
the Croatian Army possessed the ability 
to retake the region by force. 

The church, by contrast, has given 
tacit support to the political aims of both 


Peace Process Survives 
The Shooting in Hebron 


By Barton Gellman 

Washington Past Service 


i *>. 




JERUSALEM — What Noam Fried- 
man seemed to want, when he turned his 
assault rifle on a crowded Hebron mar- 
ketplace, was a catalytic act — a deed 
with repercussions enough to touch off 
the city's communal rage and hah: talks 
over its future. ■ 

By the end of the day it was clear he 
had not come close. The reasons for his 
failure, from his own point of view, tell 
an encouraging story about the resi- 
lience of Israeb-Palestinian peace. 

Mr. Friedman, an Orthodox Jewish 
army conscript, appeared to model his.' 
attempted massacre on that of another 
messianic Jew less than three years be- 
fore. . 

Baruch Goldstein, who slaughtered 
29 Muslim worshipers at prayer at 
Hebron’s Tomb of the Patriarchs, 
touched off days of widespread violence 


Newsstand Prices 


Andorra 1000 IFF 

AntSes 1230 FF 

Cemsraon ..USOO CFA 

Egypt.—: SESJB 

France...- — 1000 FF 

Gabon -—1100 CFA 

Greece ..... .350 Dr. 

Italy -2.800 Lire 


Lebanon LL 3.000] 

Morocco 16 Oh 

Qatar 10.00 Kate 

Rduniort 1230 FF 

SaucBArabta_ia0OR. 

Senegal .1.100 CFA 

Sjpafr - . gPS PTAS 


Tunisia-.: 
UAE- 


J .250 Din 
lOOODtrti 


tvayCoast.i25QCFA 
Jordan. ..1.250JD US. Mi (Ew.)— S18D 


that set hack nascent peace talks for 
many months. 

One difference was Mr. Friedman’s 
poor marksmanship. Although he 
walked to within point-blank range of 
Arab produce carts and their customers, . 
he sat awkwardly to fire his M-16 and 
held it by its pistol grip with both hands 
— -a posture Be certainly did not learn in 
basic training. He managed to kill no 
one. 

On Thursday it emerged that even the 
six of foe seven wounded Palestinians 

NEWS ANALYSIS 

were struck by ricochets and not by 
direct hits. 

Bad aim or good, Mr. Friedman 
would surely have done more damage 
ted it not been for a young Israeli pla- 
toon commander who saw what was 
happening and stopped it. 

Caught on videotape soon broadcast 
around the world, which helped quash 
Palestinian rumors of an organized 





army massacre. Lieutenant Avi Buskila 
tackled Mr. Friedman and disar m ed him 
before the gunman quite finished 
emptying his rifle’s first clip. 

Prime Minister Benjamin Netanyahu 
honored lieutenant Buskila as a hero in 
a Tel Aviv ceremony Thursday. Po- 
litically, that was an easy call for foe 
T .ilm d party standard bearer. 

What was harder for Mr. Netanyahu, 
but crucial to neutralizing Wednesday’s 
threat, was his quiet alliance with the 
Palestinian security chief, Jibril Rajoub. 
A former Palestinian guerrilla com- 

See HEBRON, Page 10 



AGENDA 


Voters Support Singapore’s Leaders 

Winning all but 2 of the 83 seats in 
parliamentary elections, Singapore’s 
governing party extended its 38-year 
hold on power Friday. 

Officials of the People’s Action 
Party, headed by Prime Minister Goh 
Chok Tong, said the victory in foe 
election Thursday would enable foe 
government to continue its brand of 
strong, decisive rule that had made foe 
island-state a prosperous international 
trading and financial hub. 

“This is a watershed election,” Mr. 

Goh said at a news conference. 

“I am satisfied with the result,” the 
prime minister added. “The people 
have shown clearly that they support 
what we have done in the last fiv 
years.” (Page 4) 


ive 


Dow .lones I Trip Index 


Down S “ 

5.78 m & 

6442.49 

V 

The Dollar _ ^ , 

NewYgK Thus, dose pnevtoua ctow 



DM 


1.5435 


1355 


Pound 


1.6938 


1.6905 


Van 


115.65 


116.145 


5.204 


5.2415 



■(Lr Hn> 


RETIRING -7- Miguel Indurate 
of Spate, five-time winner of the 
Tonr de France, said Thursday 
he wonld stop racing. Page 19. 


Books 

Crossword 

Opinion 

Sports . — 


Page 7. 

Page 5. 

Pages 6-7. 

. Pages 18-19. 


RAGE TWO 

The Story of Hitler's Front-Line Jew , s 

THE AMERICAS Paste 3. 

Doubt on Nerve Cos Tie to Gulf Rhr 

ASiA/PACtnc Page 4 . 

Burma Won't Ease Dissident's Reins 

EUROPE Pages. 

Last Russian Troops Quit Chechnya 


The beleaguered Newt Gingrich. 

Jurist in Gingrich Case 

The ethics case of Newt Gingrich, 
the House speaker, took another twist 
Thursday as Republicans said there 
was a deal for him to receive a less- 
severe punishment foal would allow 
him to remain in his post and Demo- 
cratic officials dented diet such an 
arrangement existed. (Page 3) 


the Krajina and the Bosnian Serbs. 

The bishops accused Mr. Milosevic 
of “strangling political and religious 
freedoms" and “falsifying people’s 
votes." Their statement added. “He has 
already placed us against the whole 
world, and now he wants to set us 
against each other and trigger bloodshed 
just to preserve power." 

The state-controlled media men- 
tioned neither the church statement nor 
the continuing demonstrations. 

Over the past few weeks, there have 
been rumblings of discontent at Mr. Mi- 

See BELGRADE. Page 10 


In Hungary , ; 
Officers Are 
Learning the 
NATO Way 


By Jane Perlez 

Nrw Yorl Timet Sen-ii ,• 

TATA, Hungary — In the last 
few years. Colonel Tibor Nagy has 
been systematically unlearning 
eveiything he was taught as an of- 
ficer in the Hungarian Army. 

Now foe colonel is cultivating in 
his junior officers and platoon lead- 
ers a quality that was largely un- 
known in the Soviet-led Warsaw 
Pact: the confidence to improvise 
on the battlefield, delegate author- 
ity and lake individual responsi- 
bility for decisions. 

Leadership. Colonel Nagy has 
concluded, is more than just bark- 
ing orders. 

Hungary and its neighbors in 
Central Europe are eager to take 
advantage of NATO's decision to 
expand. But officials of the North 
Atlantic Treaty Organization say 
that these countries' Communist- 
era mentality, not the lack of ex- 
pensive Western hardware, is the 
greatest impediment to joining foe 
alliance. 

"To change the cultural attitude 
of the military leaders is the most 
difficult challenge in these coun- 
tries," a NATO military attache 
said. “In foe old Warsaw Pact, 
eveiything was fed from the top 
down. In the West, a company com- 
mander can make a decision; it's 
decision-making as low as you 
can.” 

Two years ago. Colonel Nagy 
traveled to the U.S. Army War Col- 
lege at Carlisle Barracks. 
Pennsylvania, for indoctrination in 
the NATO principles of command. 
He debated the pluses and minuses 
of his new military heroes — 
Churchill, Eisenhower and Mac Ar- 
thur. He also returned with some 
startling new views on how to lead. 

“Before I went to the United 
States, I didn’t like to talk much," 
he said. “I was a tank commander. 
I gave orders and foal was that.” 

To work inside NATO, which 
has 16 members ranging from the 
United Stares to Spain and Turkey, 
the newcomer; do not immediately 
need the larest fighter jets, but they 
must be “inter-operable" with the 
alliance, several military attaches 
from NATO countries said. They 
must know how to set up squads, 
platoons and brigades: how to de- 
ploy; how to issue instructions, and 
how to set up a defense foe NATO 
way. 

in exercises with the Partnership 
for Peace program, in which coun- 
tries from the former Soviet bloc 
exercise with NATO countries, foe 
three leading contenders for mem- 
bership in NATO have started to 
learn some of these techniques. 

The Czechs, the Poles and the 
Hungarians have also been oper- 
ating alongside American and Brit- 
ish soldiers in Bosnia -Herzegovi- 
na. 

There, an American officer said, 
foe three countries have shown that 
they have "good base armies with 
intelligent recruits” but that they 
have plenty of problems with lan- 
guage barriers and incompatibility 
of communications equipment. 

So far. the Hungarian military 
has received high marks, the 
NATO attache said, for sending 
young and adaptable officers for 
basic re-education in Western mil- 
itary schools. 

This has started to pay off, of- 
ficials agreed, in foe lineup at the 
top of the Hungarian military. A 
year ago, foe top offioers were ex- 
clusively Soviet-trained; today, 
seven of the top 10 officers, in- 

See NATO, Page 10 


\ 





I 


i 


t 

t 

t 

i 

c 

1 

V 

s 

L 

E 

v 

J 1 

C 

i 


tf 

ir 

R 

2 

21 

i 

21 


E 

i< 

te 

IE 

If 

21 

23 

22 


c 

13 

19 

24 


1 

U 

13 

20 

20 

34 

45 

45 

70 

71 
77 
82 
94 
16. 
2J: 
24: 


D 

1 

3 

4 

5 

6 
7 

a 


24 

25 

27 

28 
29 


32 

33 
35 
3d 

37 

38 
40 

42 

43 

44 

48 

49 

50 
52 

54 

55 

56 

57 


60 

61 

62 

63 

64 


74 

75 

76 
79 


Tl 

A SC 


Ex 

Th 


Mo 

Jai 


7lK 

Jar 


We 

Jar 


Thi 

Jar 


Fri< 

Jan 





;J£,4u»a_i 




INTERNATIOlUL HEKAJLDTIUBUI^FW^ JANUARY 3, 1^97 

PAGE TWO 






Holocaust History / Serving the Third Reich 


C.. v! 

"TisSEtesawi 


Hitler’s Front-Line Jews 


By William D. Montalbano 

Los Angela Times 


L ONDON — Sustained by scholarship, pea- 
nut butter and a sense of mission, Bryan 
Rigg is exploring an eerie and uncharted no 
man's land of Holocaust history. He in- 
terviews former German soldiers of Jewish her- 


itage, some of them high-ranking officers, who 
it for Hitler's Third Reich. 


fou 


: of men of Jewish descent and hun- 
dreds of what the Nazis called ‘full Jews' served in 
the military with Hitler's knowledge," Mr. Rigg 
said. “The Nazis allowed these men to serve but at 
the same time exterminated their families.'' 

On a journey of personal and professional dis- 
covery, the 25-year-old Texan has talked with more 
than 300 of these veterans. Passed along from one 
old soldier to another, he has crisscrossed Germany 
over four years, often by bicycle, sometimes sleep- 
ing in railroad stations to stretch his budget 

Mr. Rigg, who has not yet published his findings, 
says be has documented the Jewish ancestry of more 
than 1*200 of Hitler’s soldiers, including two field 
marshals and 10 generals, * ‘men commanding up to 
100,000 troops.'" In about 20 cases, soldiers of 
Jewish heritage were awarded the Knight's Cross, 
Germany's highest military honor, he said. 

This fail. Mr. Rigg, Yale '96, arrived at Cam- 
bridge University to begin a graduate degree in 
history. Jonathan Steinberg, a Cambridge historian, 
read Mr. Rigg 's fi les and hurried to find a safe place 
for them. 

“When I saw Bryan's archive, I couldn't believe 
it,’’ Mr. Steinberg said. “He's like the sorcerer's 
apprentice, calling these sources up from the depths. 
Pteople keep coming and coming to him." 

He added: “I guess what we are dealing with 
psychologically is people who have felt guilty all 
these years. A classic all-American boy comes 
along, and they open up to him." 

Mr. Rigg, who is of German extraction and was 
raised as a Protestant, has discovered along the way 
that he, too, has Jewish ancestry. Like many of the 
families he has visited, he had distant relatives who 
were killed for being Jewish — and others who died 
fighting in battle for Nazi Germany. 

Mr. Rigg has focused his research on the so- 
called “Mischlinge" — Germans who were clas- 
sified as Jewish by the Nazis because of their 
parentage and who faced proscriptions under Nazi 
racial laws, even though most did not consider 
themselves Jews. 


It is an ugly word, Mr. Rigg says — for theNazis, 
s.baj 


it stood for “mongrels, hybrids, bastards.” They fit 
neither in Hitler's Aryan Germany nor in the large 
community of observant German Jews he targeted 
for annihilation. 

Many of the men Mr. Rigg has met cling to Nazi 
terminology, describing themselves as half -Jewish, 
half-German. Sometimes they weep as they re- 
minisce, these Germans now in their 70s and 80s. 
many of whom killed on the battlefield for a mon- 
strous regime while their families were being killed 
by iL 

“In many cases, these men have not talked about 
it for 50 years," Mr. Rigg said. ‘ ‘When 1 come, it is 
as if they have opened up a coffin they thought they 
buried so long ago; It all comes out." 

One of his discoveries was a 1944 German Aim] 
personnel document listing 77 high-ranking 
ficers "of mixed' Jewish race or married to a Jew.’ * 
Two generals, eight lieutenant generals, five major 
generals and 23 colonels are on the list 

Hitler personally signed declarations for all 77 
asserting that they were of German blood, ex- 
ercising his right of exception under 1935 Nazi 
legislation that barred anyone with a Jewish grand- 
parent from becoming an officer. 

“What’s fascinating is how involved Hitler was 


7 


in die screening process,” Mr. Rigg said. “At the 
height of the war, he was personally deciding 
whether this private or that should be of German 
blood. A private!" 

He said there were at least a dozen exception lists 
approved by Hitler — naming ranking officials not 
only in the armed forces but in the civilian ad- 
ministration that worked with the military. One 
German civilian of Jewish heritage was m charge of 
key factories in the tank-making industry, he said. 

World War H historians have written the story of 
these men in passing, but Mr. Rigg’s research is 
yielding new breadth and depth — and chilling 
detail: a German officer in uniform visiting his 
Jewish father in the Sachsenhausen concentration 
camp in 1942; mothers begging Nazi officials -to 
accept that the real fathers of their sons were Chris- 
tian lovers, not their Jewish-classified husbands. 

Initial reports of Mr. Rigg’s findings, published 
in London, have triggered spirited debate among 
historians. There has been applause for the young 
American's dogged quest, but also sharp criticism. 

David Cesarani, professor of Modem European 
Jewish history at Southampton University, said that, 
beyond the volume of the research and the intimate 
details of particular cases, there was little new in Mr. 
Rigg's work. And it is fundamentally incorrect, he 
maintained, to approach the soldiers as Jews. 

They ‘ *didn ’t think they were Jewish and wanted 
to prove they weren’t Jewish by fighting for the 
Fuehrer," Mr. Cesarani said. “They wanted to be 
regarded as Germans." 

Others have been more positive. “When Bryan 
proposed this project, I told him there were an- 
omalies in all wars, and this one was not worth 
tracking down,” said the Yale historian Heruy 
Ashby Turner. “But he went on with incredible 
perseverance, drawn by the people and the 
poignancy of their stories. I never imagined there 
were that many people, particularly that many of- 
ficers." 


I N recent interviews and research in Germany, 
Mr. Rigg found still more Wehrmacht officers 
of Jewish descent, and more than 1.500 pages 
of documents. 

“A lot of times, a man starts telling me about 
relatives being sent off to Auschwitz and having to 
eat human flesh to survive on the Russian front, and 
him being beaten up by military officials because be 
was a half- Jew,’’ said Mr. Rigg. "And sitting next 
to him, his wife of 50 years is getting angry, because 
her husband has never talked about this. " 

One veteran interviewed by Mr. Rigg was a 
religious Jew. now 82 and living in northern Ger- 
many, who assumed a non-Jewish identity, became 
an army captain, married a Jewish guri from his 
hometown and successfully remained a practicing 
Jew within the German Army for the entire war. 
One Knight’s Cross recipient was reunited as a 


prisoner of war in England with his Jewish father, 
who fled Germany before the fighting began. 


Helmut Schmidt, West Germany's chancellor 
from 1974 to 1982, told Mr. Rigg that he suc- 
cessfully hid the fact that he had a Jewish grand- 
father from fellow officers in the wartime 
Luftwaffe, the air force. Mr. Schmidt thought his 
case was rare. It was not, Mr. Rigg said. 

- Witiv the innocence of youth, many of the soldiers- 
Mr. Rijhj has metbelieved during the war that their 
military service, often on the Russian front, was 
helping to save the fives of Jewish-classified re- 
latives in Germany. 

“But I haven’t found any documents to support 
that," he said. “Many guys, while they were fight- 
ing, their parents were being deported anyway." 
The Nazis killed nearly 2300 relatives of one group 
of 1 .000 soldiers that be has analyzed. 

Rabbi Marvin Hier, dean and founder of the 
Simon Wiesenthal Center in Los Angeles, said that 



VUkaa I). UmHattaw*/! n- Vnp-fcvTiw 


Ihe Nazis allowed these men to serve 
hut at the same time exterminated 
their families / says Bryan Bigg-, a 
young American scholar who has - 
spoken with more than 300 former 
German soldiers of Jewish heritage, 
including some senior officers. 


the soldiers' individual stories were well known but 
that there did not seem to have been a serious 


scholarly attempt to piece them together into a 
larger picture. Tne : 


new research also poses vexing 

questions. 

“If there were Jews who served in the aimed 
forces to save their own lives, that is one thing,” 
Rabbi Hier said. “If there were others who served 
knowing what was going on and made no attempt to 
save fife, well then that is unacceptable and dis- 
honorable.” 

The Nazi regime reeked of hypocrisy. Mr. Rigg’s 
new research makes plain. He documents the case of 
Field Marshal Erhard Milch* deputy to Hermann 
Goering, the Luftwaffe chief. Long rumored to have 
been Jewish, Mr. Milch in fact had a Jewish father, 
which, according to Nazi code, made him un- 
acceptable to serve in the armed forces. Butin 1 935, 
Mr. Rigg’s. research shows, Goering. Hitler!* 
chosen successor, falsified documents to declare 
Mr. Milch of Aryan descent by asserting that bis 
mother's brother was really his father. 

Mr. Rigg has also brought fight to folklore sur- 


rounding die derring-do rescue by German soldiers 

i, tne leader of uilxa- 


of Rebbe Joseph Schneersohn. f 

Orthodox Liibaviteher JeWs, who. was trapped, in 
Warsaw when the'war.began in 1939. 

Rebbe Schneersohn was spirited to safety after an 
appeal to Germany by the then-neutral United 
States. "Lubavitcher tradition says the rebbe was 
saved try a Germ an Jew. Mr. Rigg has identified him 
as Major Ernest Bloch, a bayonet-scarred, be- 
medaled professional soldier whose father was a 
Jew. \ 

Major Bloch was eventually promotedto colonel. 
But he was dismissed in 1944, along with other 
high-ranking officers of Jewish heritage. 


sBoi 

ascusBus 






Israelis Blamed for Blast Fatal to 9 


.J3y John Lancaster 

Washington Post Servict 


officers were reportedly wounded 
militar 


CAIRO — Breaking its- customary 

■ silence on maitereof internal security. 
Syria acknowledged Thursday that 9 

■ people writ killed and 44 wounded in a 

1 bomb attack on a crowded bus in Dam- 
ascus on Tuesday. The government 

; blamed Israelfor the attack- 

; . In a statement to Syria’s official news 

’agency, a government spokesman Mid 

’’ feeboimb exploded a few minutes after 

■ the bus feft a Damascus terminal around 

'-‘noon/ carrying passengers bound for 

New Year's Eve celebrations in other 

cities. , , 

The erosion follows several attacks 
on Syrians last month in Lebanon, 
which is .occupied by 35.000 Syrian 
troops, and comes at a time of growing 
tension between Syria and Israel over 
the breakdown in Middle East peace 
negotiations. " V 

Syria's charge of Israeli involvement 
in the attack marks a further deteri- 
oration in the relationship between the 
two enemies. ' „ ■ 

“This terrorist, cowardly and crim- 
inal action comes within the framework 
of threats that were launched recently by 
Israeli officials that aim at killing the 
peace process,” the spokesman was 
quoted as having said 

Agents of the Israeli intelligence 
agency Mossad “planted an explosive 
device inside the bus that exploded 
min utes after it left the bus station at 
noon,” the official said 
David Bar-Ban, the top aide to Prime 


A Syrian military spokesman said 
however, that the blast was an accident 
; dial occurred when a detonator was in- 
advertently burned with a pile of trash. 

Syria dominates Lebanon s govern- 
ment. which responded to the minibus 
attack by rounding up scores of Chns- 
tian Lebanese opposed to the Syrian 
presence in their country. Utenon's 
prosecutor-general, Adrian Addoum. 
said at the time, "Israel's hand is not far 
from what is taking place." Lebanon 
has been governed by M uslims and 

■ Christians m a fragile arrangement- that 
ended the civil war in 1990. 

Syria's vice president. Abdel Halim 
Khaddam. also has hinted at an Israeli 
role in the anti-Syrian violence in Le- 
banon. "How can we support an op- 
position against the country's security 
and stability, an opposition that extends 
its hand to Israel ?’ r he asked the Beirut 
daily . newspaper As Safir in ah inter- 
view published Tuesday. 

The claim Thureday. however, ap- 
. pears to mark the first time in recent 

■ memory that Syria had accused Israel of 

‘ involvement in attacks inside Syria. 


■ 4**: 




•M. 

■* r : 




p 


ir 


Minister Benjamin Netanyahu of Israel, 
r Syria 

nonsense," The Associated Press re- 


Libya Executes 
8 It Accused of 
Spying for CIA 


called the 'Syrian allegations “sheer 


potted from Israel. 

Syria's government, led by President 
Hafez Assad, normally does not com- 
ment on reports of internal unrest. It 
appears to have broken its silence only 
after reports .of die explosion began to 
filter out through international news 
agencies. 

Earlier in the day, a businessman 
based in Beirut who had just arrived in 
Nicosia. Cyprus, from Damascus told 
the Reuters news agency that the blast 
occurred as the bus left for the northern 
city of Aleppo. 

Diplomats based in Damascus con- 
firmed that an explosion had taken 
place. One told Reuters that the police 
had closed off the area around the blast 
and that surrounding streets had been 
choked with traffic trying to flee fee 
area. The bus station was reported to be 
situated in a busy district near the main 
hithmKvftud Damascusjo Beirut 
and pther^najor cfoesrv : , J ’ : ‘ ‘ ! ; V. 

' J , I'ifldrehare Bfcerfseverm redmfattaqks 
tih S^rians in neighboring Lebanon. • * ’ 

Lastinonth^gunmen opened fire ona 
SyriM-registeredni^bus near Tabarja, 
abobt 25 kilometers (15. miles) north of 
Beirut, killing fee" driver, a Syrian, and 
injuring a passenger, accenting to re- 
ports 1 in the AraHcrpress.'fef a second 
incident fear day, a device' detonated 
near 'a Syrian intelligence post in the 
northern Lebanese' dry of Tripoli. Two 


CAIRO — Libya executed six mil- 
itary officers and two civilians Thurs- 
day, a day after announcing that they 
had been found guilty of spying for 
foreign ■ governments, Egypt s Middle 
East News Agency reported. 

Tbs executions came a day after 
state-run Libyan television reported the 
convictions by the High Military Court “ 
and implied that the men were working 
for the U.S. Central Intelligence 
Agency. 

The state-run radio reported that fee 
six officers were executed by a firing 
squad while the two civilians were 
hanged. 

. The radio, monitored in Tunis, said 
fee men had been convicted of belong- 
ing to "a banned organization linked to 
agents of foreign governments" and of 
passing defense secrets to foreign 
states. ■ 

It , did riot name the governments but 

;nt 


t 


Jam! 




•• 

'Jrj- 










£ 



! spying forthe United : 
fa Washington, U.S. officials dis- 
missed fee trial as a propaganda ploy. 

"This is not a new case and fee 
proceedings have a show-trial flavor,” 
one official said. “They look like a 
propaganda ploy for internal consump- 


tion. 


Toll Passes 150 as Europe’s Freeze Blocks Canals and Fire Hoses 


The Associated Press 

PARIS — A cold snap that froze Europe through 
fee holidays persisted Thursday, turning highways 
into death traps, blocking canals, claiming more 
victims and freezing firefighters’ hoses. 

It was fee 1 0th day of subfreezing temperatures 
feat have been blamed for the deaths of more than 
150 people from Spain to Russia, many of them 
homeless or elderly. Firefighters in Sulzbach in 
Germany's southwestern state of Saarland were 
hampered by hoses clogged by ice as they battled a 
bouse blaze that killed seven people. 

A wide part of northern Germany saw its coldest 
night of fee winter, wife several record low tem- 
peratures. The lowest was minus 263 Centigrade 
(minus 15 Fahrenheit} in Garde legen. Cold-related 
deaths in Germany totaled at ieast 20. 

Ice was building in the channel between the North 
and Baltic seas, closing Schleswig and several smal- 
ler harbors. The river Elbe has been closed to inland 
navigation almost to fee Czech bolder since 
Monday. Snowy runways delayed flights fa- as long 
as half an hour at Frankfurt's international airport. 


Eastern Europe was plunged into fee deepest 
and deadliest freeze, fa Poland, about 30 people 
have frozen to death — most of them homeless or 
elderly poor people without proper heating. 

Temperatures there warmed slightly Thursday, 
to minus 20 Centigrade (minus 4 Fahrenheit), 
although one town reported a reconi low of minus 
37 Centigrade (minus 34 Fahrenheit). 

Austria, where four people have died from the cold, 
reported two more deaths. Among them was a 95-year- 
old woman who broke her hip and lay in an unhealed 
room until a milkman found her the next day. 

Bodies of two elderly sisters in Liege, Belgium, 
were found in the entryway to their apartment 
where they apparently fell and froze to death. 

In Britain, fee toll rose to at least 10 when a 17- 
year-old boy died from hypothermia after col- 
lapsing in the snow on his way back from a New 
Year’s party in Rochford, Essex. 

Another person died after reportedly felling off a 
new mountain bicycle and plunging into a frozen 
pond near Wakefield in West Yorkshire. 

In France, the death toll reached at least 13 as 


two men froze to death and a 93-year-old man died 
in a hospital in Chalon-sur-Saone after he was 
discovered in his unheated'home by a town em- 
ployee who had brought him a Christmas present, 
French media reported. The mayor of Longfumeau, 
south of Paris, issued a decree requiring the home- 
less to accept emergency housing, French radio 
reported. Several people were reported to have 
died in France after refusing shelter. ■ 

An identified motorist was killed and 16 
people were injured, four seriously, in one of a 
dozen crashes on icy highways in the Alps of 
southeastern France, authorities said. 

It was minus . 10 degrees centigrade (14 degrees 
Fahrenheit) in the French capital Thursday, with no 
end to fee cold wave in sight. 

Freighter traffic was halted in much of eastern 
France after canals were sealed with as much as 10 
centimeters (4 inches) of ice. High-speed tr ains 
between Paris ami Marseille were delayed as much 
as an hour by ice on fee tracks. In Strasbourg, frigid 


weather prompted officials to stop ringing the 
: bells in then 


bronze bells in the main cathedral for fear that they 


would shatter. The celebrated Zehnerglock. built in 
,1 786 with a time-ton bell forged in 1427, went 
silent as aresplt. 

In Belgrade, 30 people were hospitalized with 
serious injuries suffered in fells op ice-slicked pave- 
ment, fee state^run Tan jug newsageacy said. Qoc- 
tors urged people to stay home. ‘ 

In Portugal, dozens of ‘tourists: -who had spent 
New Year’s Eve in the central Serra^da Estreia 
mountains were trapped in' their hotels by an un- 
usually heavy snowfall. ' : 

The storm cutoff fee towns of Penhasde Saude 
and Carqueiias, about 300 kilometers (180 miles) 
northeast of. Lisbon „wh ere snowfall. hit a record of 
five meters (16.4 feet)^ ••••'.• ' 

Heavy snow in the Italian Alps prompted au- 
thorities to issue avalanche warnings/ An alpine 
guide was killed in a snowflide at FaSso Rblle. 

In fee Netherlands, ice oh the canals was thick 
enough to support a skating race that has not been 
held since 1986. About 16,000 skaters will take to 
fee ice Saturday in fee Eleven Towns Tour, which 
begins and ends in Leeuwarden. 


' Officials of the CIA declined to com- 
ment on fee case. 

A diplomat based in Tripoli said; 
“The report is the first public admission 
of opposition within the military to the 
rule of Colonel Moammar Gaddafi." 

State-run television on Wednesday 
night broadcast footage of the trial room 
in an unidentified place. 

The television report showed a pros- 
ecutor saying to tire men: “Have you 
forgotten or are you just playing down 
what those who recruited you as spies 
have done to us? They kilted our chil- 
dren, tore-our bodies apart, raided our 
families as they were sleeping late in fee 
night.” 

He was apparently referring to the 
U.S. bombing of Tripoli and Benghazi 
on April 15, 1986. 

Ten days earlier a bomb had exploded 
in a West Berlin disco, killing an Amer- 
ican soldier and a Turkish woman. 

, . The .United States accused Libya of 
instigating that incident and of other 
attacks against American targets in fee 
Middle East and Europe. 

Six other officers and two civilians 


W.i 


■A-m 


were acquitted, by the court, showing 
that the ‘’revolution is able to be clem- 


ent when there is lack of evidence,' ’ the 
radio said. (AT. Reuters) 








-**■ 








TRAVEL UPDATE 


WEATHER 


Floods in U.S. Force Evacuation 




GUERNEVILLE. California — Rain and melting snow 
pushed rivers out of their banks across fee northwestern 
United States on Thursday, forcing hundreds of people from 
their homes. Bui for the first time in more than a week of 
storms that have caused at least 14 deaths in Oregon and 
Washington and millions of dollars of damage in five states, 
forecasters said drier weather was on the way. 

More than 40 counties in Washington, Oregon, California, 
Idaho and Nevada have been declared disaster areas because 
of flooding, rain and snow. In Napa, the heart of California's 


wine country, the Napa River rose to four feet (1.5 meters) 
above flood level Wednesday, but only minor damage was 
reported. 

Near Guemeville. about 70 miles (1 10 kilometers) north of 
San Francisco, the muddy Russian River rose Wednesday to 
nearly 45 feet 13 feet above flood stage. Up to 7 inches (18 
centimeters) of rain in Reno. Nevada, caused the worst 
flooding in fee city in more than 40 years. 

Farther north, record warmth swelled rivers and caused 
mudslides in Washington and Oregon. (AP) 


UNIVERSITY DEGREE 

BACHELOTS • MASTER'S • DOCTORATE 
ftv and Aadamic Experiena 

Throi^h CojTvenient Home Study 
(808) 597-1909 EXT, 23 
Fax: ( 310) 471-6456 
http: // www jwjxom 
Fax or send detailed rear* fe 
FREE EVALUATION 

Pacific Western University 

l220Auahi Street Dept 23 
HonoUu, HI 968144922 



Education fcc tft fy 


; every Tuesday, 
fa advertise contact* 
Chrisrelle Foreetier 
TeL- + 33 1 41 43 94 76 
Fax: + 33 141 43 93 70 
or your nearest IHT office 
or representative. 


China on Thursday hailed the end of a second whole year 
without an aviation disaster. In 1994, the International Airline 
Passenger Association cited China as one of fee most dan- 
gerous places in fee world in which to fly after a string of 
crashes and hijackings. (Reuters) 


Blocked by scaffolding and sectarian squabbles for 
decades, fee newly restored dome above fee traditional she of 
Jesus’ tomb was unveiled Thursday in Jerusalem's Church of 
die Holy Sepulchre, ifiuminating the interior of the 900-year- 
old church and the marble tomb below. (AP) 


Tourism to Israel fell about ^ 7.2 percent in 1996, apparently 
as a result of stalled peace talks and deadly violence in the 
Jewish state, according to figures released Thursday. (AP) 



Ibid Information on over 100 of th# worth’s leading sM resorts onftrw 


Planning your ski trip? 


Europe 



TocnQrmr 


MBS 

UwW 

tagh 

LowW 


OP 

OP 

or 

C/P 

/ugaiva 

lira 

7/44 pc 

lira 

7*44 r 


-MBS 

-6/22 c 

- 1/31 

-4BSC 

Alto* 

5/41 

032 C 

eaa 

1/34* 

Mm 

1B61 

13*96 C 

sum 

13755 c 


IOW 

4O0f 

a/46 

104 pG 


(VO 

SMI r 

lira 

ass* 

Barth 

■aaa- 

-10/16 c 

-307 

-7)20 it 

Borneo 

■ana 

-aasc 

1/3* 

-3727 c 

Burtapaw 

-U31 

<2001 

SEE 

- 2/20 r 


-2123 

-4/23 * 

104 

-3074 

CcataDwse 12£3 

«3Bpe 

lira 

*48 r 

tUfti 

1/34 

-2/29C 

2ES 

Q732C 

EfSnaagh 

1/34 

-3/27 C 

1/34 

■1/31 pc 

Hbresca 

1293 

aw pc 

W* 6 

307 f 

Fia*un 

■4® 

■via PC 

•era 

-7720 n 

Genws 

7/44 

3/37C 

s /43 

■1/31 * 

nmmmUQ 

■«ffl 

3/16 5! 

-7G0 

•13/9* 

6WW 

1263 

BM6c 

13K5 

1303* 

LaaPafenas 

IMS 

1407 pc 

am 14/37 pc 

Lteflen 

8/46 

4/38 pc 

SMS 

104 r 

Unden 

(KJP 

4/23 C 

4/30 

104 c 

asst&M 

7(44 

032* 

3/37 

■4/ase 

lUknca 

948 

8M3r 

7/44 

1/34 pc 

Mian 

7/44 

307* 

. 400 

-trair 

u«eo* 

-11/13 

•14/70 

-ana 

-150 C 

Karen 

SMI 

■1/31 PC 

409 

■3727 Sh 

IttS 

133 

7/44 f 

10TB 

400 r 

Cato 

•ear 

■ 12/11 pc 

■1/31 

■ana po 

Parti 

-4/5S 

-8/22*1 

V37 

-27291 

Prague 

-MS 

■ana* 

-1/31 

-700 C 

Ray*** 

4/38 

QI32C 

MS 

0O2C 

Roms 

17/82 

arac 

13/SB 

307* 

m-PKEsastra -ms 

-12/11*1 

■via 

-1S/0C 

EttMi 

■307 

•ana pc 

-4® 

■ 12 m* 

Skattwwo 

7/44 

3/37C 

e /43 

<101 * 

Taakn 

-aw 

402 H 


VwifcO 

7/44 

3/37C 

SMS 

104* 

i/lam 

IKE 

-Ifli 1 

400 

0021 

Mhranr 

-ms 

■158 pc 

■ABB 

■viee 

Zurtcn 

8M3 

206 e 

4/39 

•1/31 an 

Middle East 


i provided byAccu Weather. : 



North America 

Much ootdar air wn Invade 
the northern ‘and central 
Plains and PoeUaa this 
weekend, whte the sastem 
third oi the nation will 
remain unseasonably mid. 
The Was! will, have a 
chance to fry out (ram the 
recent siormv weather 
bacausa mainly raln-tre. 
wuttnr wB prevail thrarfi 
Monday. 


Europe 

liUch ctfiatape wB remain 
imeMsonabtv <seM through 
Monday with the dare oi 
the colossi air over west- 
ern Russia and northeast- 
ern Europe. Northwest 
Europe, mdudtofl Amster- 
dam and London, wB mod- 
entfe ftnwd mom soman- 
able readings, but still 
below normal through 
Monday. 


CoM weather wHt ptMjM 
aoroas northeast China 
ml bath Korns. ' 
SeoUand' 

Monday. In con&ucmuch 
of Japan, (richnfing Tokyo, 

wSU be unseasonably mid 
With ahower* notable Sun- 
' and Monday, it wH be 
wejm and hvnrtd 
across Southeast Asia wift 
.EttlenlnhlL. 


Africa 


North America 


AUM ' 
Capa Den 


OF OF 


tmf 


Anemaga 


Abu ChaU 2«76 1VG2a ZV73 amt 

Bent t«» 11(S2s 10E6 12153a 

cam 21/70 awe* 22m ioisos 

o«ww isbb zees met 40 a> 

Jenmim I4&7 BMIa IMS QU3« 

Lusgr 24m 6/41 I SB m 8M3 a 

IMS 8*48 oc IBM 7*44 C 


■taiB-anww 
zan nra pc 

flMO V3*a 

entegs afia 409 e 

33/73 tarac 

14/57 >1/31 pc 

am sort 

22/71 21/70 r 
moon ■ 26/78 ions pc verr» ia«spc 

UaMgaM 200 s lanope ISOS 7/44 go 

mm 367P wee# gxm tompe 


Dsnvsr 


Mgfr 
OF OP 
■iso -16/Den 
W70 W4Bc 
W49 *36 pa 

7*44 -2/29 *ti 

31 m snipe 
4/30 -Krone 

am 20s«h 

27/80 1084 01 


Mgtl UH*W 
OF OP OF OP 
2/36-4006 OOi -one an 
1/34 - 3 / 27 tn oar u»a 

asm 17182s ‘ 34/7B 17/02 pc 
1203 6H3c 1060 SMSc 
27/BO 1407 pe am 18(81 PC 
21 /m mat 2008 onspa 
MS7 BHSO lira 4/38 pc 
ana 307*1 6/48 1046 

TM4 -V81b WSO 8/43 pc 
W43 427*0 307 -HP pg 

lues. 7 / 44 pc 17/82 ame 


NawYMc 

Ortwxto 


Vaneawar 


Tbrt* . 


17W 4/38 pc 
24/75 1305* 
tUBS 11/43 pG 
29*4 1M9 1 
3W 23/73 pc 


24/75 BHSpe 


13/» 541 PC 
27380 lira* 
14/37 7*44 0 

asm ana* 
suss aarojw 
sen* taespe 

1«1 8M3C 


Latin America 


ftanwiAh** 3*03 23/73 pa 
CanoM 2B/B4 2OTipc 
28/76 tms pc 
MniftGtr tSfljo 0/0 £ 
RkidaJanato 2078 22/71 sti 


2M4 18/84 po 
29*84 22/71 pc 
am loospc 
21/70 7/44 pa 
28*62 22m pc 
3V88 19554 


Oceania 


trawd-sHMag, poportii clowly. manudy. ah-ahowwi, hhwd w a KMm , mdn. atcnwfcflrtM. 
avjro«. hfca. W-Ww*wr- m mpa, tomato ml data pnvkMt«A)mMtarfW,|Da.aUB7. 


«/7S M/57 pc 22/71. t1A2 pc 
Sam 14E7 1 22/71 1457a 


Imprimt per Offprint, 73 mode CEvangik. 75018 Paris. 



J?®-'-' 



-;Ilr 





-j; ; ;• 


■ ■ -■? 


' ' \ ■■ •• ■ 
‘ K . ■■ y-.- • . ;• • \ ' . • ■■ 

V *" v - ..■■.\Vvv ' 




" S B«* 


THE AMERICAS 


■«»* fi 



Gas as Cause of Gulf War Syndrome 


ut «lUi 


9 


By David Brown 

ftfffawnr 


. J!- 


■:^‘h 

■ , *‘"'- 

U; 

:*? ? 

■Jisij. . 

... -H. 

• :f! >w 

♦■•.j, i 
1 



*k va E\ecu| 

! -Wusedi 

Tying iorQ 


• -'it " 

‘ il 

■ • ’.Ti" 1 

•-•r i 


-I;** 




• . *■■ 

*■> 



WASHINGTON — - The theory that many 
Gulf War veterans are ill because they were 
unwittingly exposed to netyp gas more than five 
years ago contradicts most of what is known 
about the health 'effects of chemical weapons. 
Such a scenario is unlikely because nerve 


and almost never cause permanent damag e to 
those who survive: There is even less evidence 
that they cause illnesses that first appear monihs 
after contact 

Those are the conclusions suggested by three 
decades of research on nerve gases, and affir med 
by many scientists familiar with die chemical 
compounds and their effects. 

L * Based on what we know about low-level 
exposure to this type of chemical, one would be 
very hard pressed to make that connection be- 
tween veterans’ illnesses and gas exposure/’ 
said John Thomas, president of the American 
College of .Toxicology and a professor at the 
Health Science Center of the University ofTexas 
at San Antonio. ' • * 


The current knowledge about chemical 
weapons does not Jibe with widespread asser- 
tions by some veterans groups, politicians and 
commentators that thousands of veterans are 
chronically ill- from exposure to poison gases 
during the Gulf War. 

Almost since die war ended in 1991 , repons of 
a mysterious Illness — characterized by mood 
changes, concentration problems, mu scle pain-c. 
skin rashes, diarrhea and other complaints, and 
known popularly as “Gulf War Syndrome” — 
have circulated among veterans. Some former 
soldiers, dissatisfied with their diagnoses and 
medical care, looked for a cause of the symptoms 
in the environmental hazards encountered in the 
war against Iraq. 

On that long list of hazards were smoke from 
oil fires, exotic infections, drugs and vaccines, 
depleted uranium used in projectiles and chem- 
ical weapons. Although the Pentagon studied 
each, for years military officials said thai chem- 
ical weapons could not directly explain any 
illness a veteran might be suffering. That is 
because Iraq had not used chemical weapons. 
Except for one soldier who was accidentally 
exposed, no American troops were exposed to 


die toxic compounds, military officials said. 

Last June, however, the Defense Department 
amended its story. Investigators announced that 
thousands of soldiers may have been exposed to 
small amounts of poison gay when they blew up 
a monitions dump in Khamisiyah, Iraq, soon 
after the fighting stopped. 

The Khamisiyah revelation fueled many ver- 


Compounds designed as 
chemical weapons kill people 
at extremely low doses. 

erans' suspicions that the military was hiding 
information crucial to their health. That sus- 
picion was bolstered by die Defense Depart- 
ment’s acknowledgment, in various forums re- 
cently, that it had never thoroughly interviewed 
soldiers who had reported other’ possible ex- 
posures to poison gas. 

Nerve gas symptoms can resemble some of 
die initial, relatively minor complaints some 
veterans have described. A small amount of 


rompounc 

longer-lasting physiological changes. It is pos- 
sible that other, unexpected effects may be un- 
covered with further research. 

The nerve agents used as chemical weapons 
— sarin, soman, tabun and VX — are members 
of a large family of chemicals called ‘ ‘organ - 
ophosphaze cholinesterase inhibitors.” 

When a person is poisoned with orgapophos- 
p hates, the pupils constrict, muscles twitch, the 
person salivates, sweats and sometimes 
wheezes. Often there is nausea, vomiting and 
involuntary defecation. At higher doses, or with 
longer exposure, people have convulsions, lapse 
into unconsciousness, develop profoundly low 
blood pressure and stop breathing. 

Organ opfaosp hates are the most commonly 
used pesticides in die world, with hundreds of 
tons used every year by everyone from house- 
hold exterminators to crop dusters. Unlike pesti- 
cides, however, the compounds designed as 
chemical weapons kill people and animals at 
extremely low doses. 

If soldiers encountered nerve agents during 
the Gulf War, it is probable that a few people 
would have received doses high enough to tall. 


or at least make them seriously ill. But that does 
not seem to have happened. 

It is unlikely that six years after the fact 
medical investigators will ever figure out what 
caused the symptoms some soldiers reported. 

There is, however, one report of a group of 
people exposed to nerve gas who developed 
symptoms quite similar to those of Gulf War 
Syndrome. These were 129 Germans who 
worked in munitions factories and made many 
kinds of chemical weapons, including sarin and 
tabun, after the start of World War IL 

In 1963, a scientist named U. Spiegelberg 
reported on his examination of them. The great 
majority, he wrote, ‘ ‘showed persistently lowered 
vitality,” “headache, gastrointestinal and car- 
diovascular symptoms” and other problems, in- 
cluding an “impression of premature aging.” 
Because the workers had all held their jobs at 
least two years, their poison exposure almost 
certainly was far greater than any that might have 
occurred in the Gulf. 

Despite those differences, this is the best 
evidence that the constellation of symptoms 
some veterans report could conceivably arise 
from nerve gas. 


Deal to Spare Gingrich 
Is Reported and Denied 

Republicans Say a Reprimand Is Favored 


By John E. Yang 

Vfashirtgion Post Service 


WASHINGTON — - The ethics case. 
of the House speaker. Newt Gingrich, 
took another bizarre twist Thursday as 
Republican sources said there was a 
deal for him to receive a less-severe 
punishment that would allow him to 
remain as speaker and Democratic of- 
ficials denied that such an arrangement 
existed. - 

According to die sources, who are 
close to die speaker’s warn, the four- 
member House ethics investigative sub- 
committee, equally divided between 
Republicans and Democrats, agreed to 
back a reprimand of Mr. Gingrich in 
exchange for his admission Dec. 21 that 
be broke House rules. 

The arrangement, essentially a plea- 
bargain agreement, would virtually 
eliminate the possibility that the full 
ethics panel of five Republicans and 
five Democrats would propose a tough- 
er sanction, such as a censure, that 
would mate him ineligible to serve as 


But the House minority whip, David 
Bonior, Democrat of Michigan, said 
that ethics committee members “with 
an intimate knowledge of this case” 
assured bimthar no such deal existed. 

Mr. BoniOE/tbe speaker’^ chief ad- 
versity m the House,, called reports of 
the deaf “one more desperate attempt by 
the Republican leadership to shore* up 
the speaker’s crumbling ^credibility." 

Last month, ML Gingrich, acknow- 
ledged that be brought discredit to the 
House by not consulting with a lawyer 
to ensure that using tax-deductible con- 
tributions to finance a college course be 
taught and a televised town meeting 
would not violate federal tax law. 

He also admitted giving the ethics 
panel untrue information when it in- 
• jects. 


Mr. Gingrich said bis violations were 
not intentional. 1 'I accept responsibility 

2 Bombs Sent 
To Saudi Paper 

Reuters 

WASHINGTON — Two letter 
bombs were discovered in a baich of 
maul delivered to A1 Hayat, a Saudi 
Arabian newspaper with offices at the 
National Press Club in downtown 
Washington, the police said Thursday. 

The first device was discovered by an 
employee of the newspaper, the police 
said. Police officers discovered -a 
second bomb as they went through the 
remainder of the newspaper’s mall. 
Both bombs were removed from the 



; investigating. 

A1 Hayat, a Saudi newspaper based in 
London, had published tite manifesto of 
a radical Islami c group after the fatal 
June 25 bombing of U-S. military per- 
sonnel in the Saudi city of. Khobar. 


for this and I deeply regret it,” he said in 
a statement. 

The full ethics committee is to begin 
considermg what punishment to recom- 
mend to the House next Wednesday, the 
day after Mr. Gingrich hopes to become 
die first Republican to be re-elected as 
speaker in 68 years. ‘ 

Under a schedule worked oat earlier 
this week, the House would vote on tire 
sancrinn no later than J an. 21. 

If the two Democrats on the invest- 
igative subcommittee, 

Benjamin Cardin of Maryland and 
Nancy Pelosi of California, back a rep- 
rimand in tire full committee, it would be 
virtually impossible for a majority of the 
panel to support a tongfrer sanction. 

A reprimand, which the ethics com- 
mittee's rotes says is appropriate “for 
serious violations,” emails a House 
vote criticizing a lawmaker’s conduct. 
A censure, which is second only to 
expulsion in severity, takes that a step 
farther as the lawmaker is taken to the 
well of the House and admonished, 
much as a felon would be in court. 

House Republican rales prohibit a 
censured lawmaker from being a com- 
mittee ch airman or holding a leadership 
post, such as speaker. 

■ Democrat Critical 

‘ A former Democrapc chairman of the 
ethics committee said he could not re- 
call members of tiie panel ever publicly 
opposing censure for a colleague before 
deliberating on a punishment, as two 
Republicans are doing with the speaker. 
The Associated Pfess reported. 

■ ‘Tm unaware of a member of the 

- p-riiira cn rnmitt-ffft haremfiim ra nunimic - 

afing to the leadership of either party 
their predisposition to vote a certain 
way on a sanction,” said Representative 
Julian Dixon, Democrat of California, 
who was die ethics committee chairman 
for six years starting in 1989. 

“It’s my recollection during my ten- 
ure that members were, exceptionally 
cautions on making public utterances on 
issues pending before th e m . ” he added. 

He led the committee when il charged 
Jim Wright, then the speaker and a 
Democrat, with ethical wrongdoing. 
His former chief counsel, Ralph Lotion, 
agreed. 

Two ethics committee members now. 
Prater Goss. Republican of Florida, and 
Steve Sdtiff, Republican of New Mex- 
ico, informed fellow Republicans by 
letter Tuesday that they would vote to 
re-elect Mr. Gingrich. 

Tbe two men. who are the Repub- 
licans most familiar with the investi- 
gation of Mr. Gingrich, wrote that they 
saw nothing in the evidence that would 
warrant a censure. 

The letter was distributed by the 
House majority whip, Tom Delay, who 
is part of a Republican leadership effort 
to shore up support for Mr. Gingrich 
among rank-and-file Republicans. 

Meanwhile, Representative Bob Ing- 
Hs of South Carolina joined a group of at 
least 13 Republicans who expressed un- 
certainly about Mr. Gingrich's re-elec- 
tion. (hie Republican. Representative 
Michael Forbes of New York, has said 
be opposes Mr. Gingrich. 





WDtralo Lcc/Tbe Auooaled Pies 


PARTING CHAT — The first lady, Hillary Rodham Clinton, and her daughter, Chelsea, talking to Cub 
Scoots at the Beaufort Marine Corps Air Station in South Carolina before leaving for the U.S. Virgin Islands. 


Away From Politics 


• The use of sheep tissue and other animal parts in cattle 

feed would be banned by federal law because of their links 
to “mad cow” disease, under a proposal by theU-S. Food 
and Drug Administration. The U.S. livestock industry 
announced last year that it was voluntarily banning these 
“ruminant-derived proteins” — parts from slaughtered 
sheep, cows and certain other animals — in feed sold to 
American cattle fanners. (API 

• License plates that feature the Confederate battle flag 

will be retailed in Maryland after drawing fire from black 
leaders who see the emblem as racist A spokeswoman for 
the state Motor Vehicle Administration said the state would 
offer free replacement plates to the members of the Sons of 
Confederate Veterans. (AP) 

• At least 30 gunshots were fired into a restaurant in 
Pittsburgh from a popular tourist lookout , as workers 


cleaned up from a New Year’s Eve celebration. A waitress 
suffered a cut shoulder from flying glass, but no one else at 
the restaurant was hurt. (AP) 

• Consumers should not ingest synthetic designer drugs 

with names like “Orange fX Rush” or “Cherry fX 
Bomb,” the U.S. Food and Drug Administration has 
warned. Such substances violently sickened dozens in a 
crowd of young partygoers at a New Year’s Eve “rave” 
concert in Los Angeles. (AP) 

• Two firebombs were thrown at an abortion clinic in 

Tulsa, Oklahoma, causing minor smoke and fire damage. 
No one was inside the building, which was closed fra* the 
New Year’s holiday. (AP) 

• A 652-foot (200-meter) radio broadcasting tower in 

Baraboo. Wisconsin, collapsed under the weight of ice and 
fell to the ground only four yards from the home of a couple 
and their two children. No one was injured, but a local radio 
station was knocked off the air. (AP) 


Peru’s Leader 
Assails Rebels 
In Standoff 


By Douglas Farah 

Washington Post Service 

LIMA — President Alberto Fujimori, 
stung by Marxist guerrillas’ publicity 
coups in tiie hostage standoff, Thursday 
branded tire takeover of the Japanese 
ambassador’s residence an act of sense- 
less violence and raid the attack would 
not affect Peru’s economic future. 

In his most extensive public comments 
since the Dec. 17 takeover of the res- 
idence by the Tupac Amaru Revolution- 
ary Movement, Mr. Fujimori defended 
his government’s economic record of 
moves toward a free market, which has 
been criticized by the guerrillas. 

Also Thursday, the government un- 
expectedly dismissed several govern- 
ment leaders being held hostage. 
Among those who lost their jobs while 
in captivity were the head of national 
security, the president of the Supreme 
Court, and the head of the anti-terrorism 
police. 

It is not clear if the moves were an 
attempt by the government to lessen the 
leverage Tupac Amaru can exercise by 
holding them, or whether they were 
punishment for the breaches in security 
that led to the hostage-taking. 

The guerrillas initially held about 500 
hostages, but have since let several 
groups out. including seven captives on 
Wednesday, and now bold 74 people. 

Mr. Fujimori, who has become in- 
creasingly isolated as the siege drags on, 
made his 15-minute speech at a ce- 
remony swearing in the new Supreme 
Court president. It came two days after 
the guerrillas held a press conference 
inside the besieged ambassadors' res- 
idence, a move that is reported to have 
infuriated Mr. Fujimori. 

The president said the “terrorist" 
attack was an “isolated incident" that 
would not scare off foreign investors. 
“That will surely be a disappointment 
to those who thought they could stop” 
economic growth and reform, Mr. 
Fujimori said. 


Lew Ayres, Ex-Film Star, Dies 


The Associated Press 

LOS ANGELES — Lew 
Ayres, 88, whose film career 
covered six decades and weath- 
ered the furor of his objection to 
combat duty in World War IL 
has (bed. 

Mr. Ayres died at his home 
Monday. The cause was not re- 
vealed. 

Daring his long career, Mr. 
Ayres played opposite Greta 
Gabo, stazred in tire Oscar-win- 
ning “All Quiet 'on the Western 
Front” and found success por- 
traying Dr. Kildare in the MGM 
film series. 

Shunned by the studios after 
be became a conscientious ob- 
jector during World War IL he 
managed to revive his career and 
earn an Academy Award nom- 
ination for “Johnny Belinda.” 


Long a student of comparative 
religion, Mr. Ayres produced 
“Altars of the World,” a film on 
world faiths that wod tire Golden 
Globe Award for Best Docu- 
mentary of 1976. 

Michael Bruno, 64, Led 
Israel’s Central Bank 

NEW YORK (NYT) — Mi- 
chael Bruno. 64, a former head of 
Israel’s central bank and a chief 
economist of the World Bank 
who was widely regarded as a 
leading authority on fighting in- 
flation. died in Jerusalem on 
Dec. 26. 

Mr. Bruno is largely re- 
membered as a hands-on devel- 
opment economist. 

Israel’s assault on inflation 
was largely won in 1 985. with an 
unusual approach pioneered by 


Mir. Bruno, one that checked 
price increases without forcing 
Israelis ro cope with an extended 
period of high unemployment. 

Edouard Bled, 97, Writer 
Of French Grammar Text 
PARIS (AP) — Edouard Bled. 
88, whose grammar book taught 


French language, died Sunday. 

Seventeen million copies of the 
grammar manual that Mr. Bled 
wrote with his wife, Odette, have 
been published since 1947. 
Known simply as le Bled, the 320- 
page book is still widely used. 

For Mr. Bled, grammar was to 
be drilled into young minds with 
the rigor and methodology of 
mathematics. Bad writing, he be- 
lieved, was an expression of bad 
thinking. 


POLITICALS O 


Jefferson Might Have Approved 

WASHINGTON — "Thomas,” the Library of Con- 
gress’s World Wide Web site of legislative information, is 
celebrating its second birthday this month. The site is named 
after Thomas Jefferson, third president of the United States 
and a champion of freedom of infonnation. 

Frbm the Thomas page at http://lQc.thomas.gov . on-line 
users can dive into a sea of federal information, including the 
floor activities of the House and Senate; summaries a nd ful l 
texts of trills; all the laws Congress passed in the current 
session, and the texts of the Congressional Record, com- 
mittee reports, and such historical documents as the Dec- 
laration of Independence, die Federalist Papers and the 
Constitution. 

But the really voluminous sections of the library’s site 
(httpy/wtfw Joclgov) are the wok of the National Digital 
Library, a pet project of the Librarian of Congress, James 
Bill ington. Begun in October 19514, the digital endeavoris 
the library’s attempt to. as Mr. Bihington put it get the 
champagne out of the bottle” — in other w ords, to put tiie 
library’s vast nonbook holdings, such as prints, photo- 
graphs; maps, audio recordings and films, within reach of 
the general public. , _ . .. 

The National Digital Library “aims to make freelyavaiJ - 
able on the Internet millions of materials from me horary s 
unparalleled collections of American history and culture, as 
well as those from other institutions,” Mr. Billmgran sard. 


To pay fa- all this. Congress has earmarked about $15 
million over five years. Id addition, Mr. Billington bas 
helped ruse $22 million in private funds. The first major gift 
was a $3 million pledge from the W. K. Kellogg Foundation. 
Other donors include Bell Atlantic. Eastman Kodak and 
David Packard, a founder of Hewlett-Packard. 

Highlights of die site include tire Hondini Collection, 
photos andmemorabflia from tiie illusionist’s life; nearly 60 
recordings of speeches by such famous Americans as Calvin 
Coolidge, John D. Rockefeller and Samuel Gompers, and 
the only known photo of Abraham Lincoln at the site of the 
Gettysburg address in 1863: (WP) 

Term-Limits Law Under Fire 

PORTLAND, Maine — Opponents filed a challenge 
Thursday in federal court to a state law that requires 
candidates to pledge support for a term-limits amendment to 
the U£. Constitution. 

The measure, approved by Maine voters in November and 
effective Thursday, requires candidates for Congress, gov- 
ernor and the le g islature to make a written pledge or have the 
phrase : “refused to pledge to support term limits” printed 
next to their names on the ballot. 

“This case is not about term limits. It’s about the First 
Amendment," die speaker of the stare House of Rep- 
resentatives, Elizabeth Mitchell, said. “If this scarlet letter 
labeling isn’t stopped now, where will it end?” 

The lawsuit was filed in U.S. District Court on behalf of 


the League of Women Voters of Maine. Ms. Mitchell, a 
Democrat, and state Senator Philip Haniman, a Republican, 
were named as plaintiffs. They asked the court to strike 
down the law as unconstitutional. 

Similar measures were on the ballot in 1 3 other states and 
passed in Alaska, Arkansas. Colorado, Idaho, Missouri. 
Nebraska, Nevada and South Dakota. The Arkansas mea- 
sure, which was identical to Maine’s, has since been struck 
down by that state's supreme court. 

Dane Waters, national field director of U.S. Term Limits, 
said his Washington-based organization would help fight 
the challenge. He accused opponents of term limits of trying 
to overturn the will of the people. * ‘They’ve found out that at 
the ballot box they cannot beat us,” Mr. Waters said. The 
Maine measure wot 59 percent of the vote. 

Supporters of term limits devised thepledge law after the 
U.S. Supreme Court’s 5-4 decision in 1 995 that states cannot 
limit service in Congress without amending tiie Consti- 
tution. That ruling nullified term limits in 23 states. (AP) 


Quote /Unquote 


James QueUo, a member of the Federal Communications 
Commission for 22 years and a defender of television 
broadcasters in their battles with cable and other media, on 



have 75 percent of my marbl 
good to leave when you’re still wanted.” 


(WP) 


Living in the UJS.? 

Now printed in New "fork 
for same day 
delivery in key cities. 

Tb subscribe, call 
1 - 800-882 2884 
On New York, call 212-752-3890) 



, THE WORLD’S DA11X NEW5MPER 


In this Saturday’s 



Forms 

and Formulas 


A 


package for investors 
to get their acts together 
in the New Year 


INTERNATIONAL 



IWLbKTD WTTW 7» NSW im iTMftl A*tj ««lMurflA W 

THE WORLD’S PAID 7 NEWSPAPER 


•1 

\ 




- --.-Vf-i. WJ, 


PAGE 4 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


ASIA/PACIFIC 


Singapore Voters Give 
Strong Support to Goh 


Leader’s Party Wins All but 2 of S3 Seats 


India Halts Trains 
In Troubled Region 


By Michael Richardson 

Inter national Herald Tribune 


Chinese, with significant minorities of 


SINGAPORE — Sin: 


Malays and Indians. But die government 
has insisted on die use of English as a 


3RE — Singapore’s gov- 
extended its 38-year hold on 


erxung party extended its 38-year hold on 
power Friday by winning all but two of 


die 83 seats in parliamentary elections. 

‘ ‘This is a watershed election, ’ ’ Prime 
Minister Goh Chok Tong said at a news 
conference. "I am satisfied with the 
result The people have shown clearly 
that they support what we have done in 
the last five years.” 

Mr. Goh said Singapore's voters had 
shown their support for “good gov- 
ernment” and “rejected Western-style 
liberal democracy. ’ 

Officials of the People's Action 
Party, headed by Mr. Goh, said that die 
victory in the election Thursday would 
enable the government to continue its 
brand of strong, decisive rule that had 
made die island-state aprosperous in- 
ternational trading and financial hub. 

Sidek Saniff, a Malay minister in Mr. 
Goh’s predominantly Chinese cabinet, 
said the outcome of the general elections 
amounted to a strong rejection of ex- 
tremist elements in die opposition and 
augured well for maintaining multiracial 
harmony in Singapore. 

The divided opposition, which had 
four of the 81 seats in the outgoing 
Parliament, retained only two seats in 
the slightly enlarged legislature. 

Analysts said the result was an im- 
portant victory for Mr. Goh, who took 
over from Singapore’s veteran leader, 
Lee Kuan Yew, in 1990 and staked his 
reputation on reducing opposition gains 
in these elections. Mr. Goh said Wed- 
nesday that his position and Singapore’s 
stability could be questioned if ms party 


neutral working language to avoid the 
possibility of any group dominating. 

In his determination to defeat the op- 
position, Mr. Goh also warned voters 
that precincts that went against the gov- 
ernment would be placed last in line for a 
program to upgrade die high-rise public 


housing developments in which more 
than 85 percent of Singaporeans live. 

This campaign tactic was criticized 
both by the opposition and the United 
States. Mr. Goh bad protested angrily 
that Washington was interfering in 
Singapore's internal affairs. 

Lee Boon Yang, Singapore’s labor 
minister, said Friday that the governing 
party’s strategy of linking its upgrading 
program to the way people voted was an 
“important aspect” of the election. 

But be denied that, by voting for the 


GAUHAT1, India — India has sus- 
pended nighttime train traffic through 
the Bodo tribal areas in the northeast 
where separatist rebels bombed a pas- 
senger train this week, killing 38 
people. 

The decision Thursday by railroad 
authorities in New Delhi effectively 
cut off ground transportation to In- 
dia’s seven north eastern states after 
dark, since all rail traffic passes 
through the narrow strip between 
Bangladesh and Bhutan that is dom- 
inated by tiie Bodo tribe. 

The bombing Monday was one of 
tire worst of the 10-year-old insur- 
rection by Bodo militants, who are 
demanding that a separate homeland 
be carved from the state of Assam. 
Thai attack was followed Wednesday 


by the blowing up of a railroad bridge 
in the same area, but no one was hurt. 


government, people had succumbed to 
threats. He said Singaporeans knew they 


The railroad minister. Ram Vilas 
Paswan. pledged to send 1,000 mem- 
bers of a special force to guard 
bridges, culverts and stations. (AP) 


i Singaporeans knew they 
were voting for a team of capable leaders 
and an effective program of govern- 
ment 

When tiie nine-day campaign began, 
candidates of the governing party were 
unopposed in 47 of the 83 seats in the 
new Parliament. The remaining 36 seats 
were contested Thursday. 

Leaders of the five opposition parties 
said they were not contesting most of the 

seats because their main aim at this stage 

was not to form a government but to 
persuade voters to support a stronger 
opposition voice in Parliament. 

■ An Opposition Chief Loses Seat 

Chee Soon Juan, leader of the Singa- 
pore Democratic Party, failed to capture 
a key seat, winning only a third of the 
vote after a campaign in which gov- 
ernment leaders branded him a “proven 


fared badly in the polls. 

Mr. Goh and other government lead- 
ers had accused elements of the op- 
position Workers’ Party of supporting 
pro-Chinese and anti-Christian policies 
that would threaten the position of 
minority ethnic groups in Singapore. 

The Workers 'Party in turn accused the 
government of creating a red herring to 
distract voters’ attention from opposition 
attempts to spotlight rising costs aid pub- 
lic desire to check autocratic power. 

Singapore is 77 percent ethnic 


Israeli Air Force 
Plans Delhi Office 


liar,” Reuters reported 
But Chiam See Tong, the former 


Singapore Democratic Party chief who 
lost a leadership battle with Mr. Chee. 
helped prevent a clean sweep by the 


People's Action Party, scraping by with 
a reduced majority under the banner of 
his new Singapore People’s Party. 

The Worker’s Party kept the one seat 
it had in the old Parliament. 


Pakistanis Open 
Fight on Corruption 


CHINA: Millions Feel Left Behind as Boom Brings New Riches 


Continued from Page 1 


new model of economic growth in the 
developing world, driven by huge in- 
creases in trade and private foreign in- 
vestment. As developing countries have 
adopted bee-market policies, privatized 
state industries and opened them borders, 
private investors have poured $420 bil- 
lion into their economies since 2988. But 
as international trade and investment leap 
over national boundaries, it has become 
easier, too, fra the problems of inequality 
and poverty to cross barriers. 

Around the globe, die incomes of the 
richest 20 percent of the world’s pop- 
ulation grew three times as quickly as 
the incomes of the poorest 20 percent 
from 1960 to 1990. 

As a result, the share in global income 


Jiangsu after three more years with 
Beijing construction gangs. 

But even more evident has been the 
growth of a new class of wealth. One 


symbol is die recently opened China 
Club, in what had been Mr. Deng's fe- 
rrite Sichuan-stvle restaurant The mice 


of the poorest 20 percent of die pop- 
ulation has fallen to 1.4 percent from 2.3 


ulation has fallen to 1.4 percent from 2.3 
percent, according to the UN Develop- 
ment Program. The richest 20 percent of 
the Earth now earn 85 percent of the 
money, compared with 70 percent three 
decades ago. 

For governments of countries that 
have made great economic progress, that 
has made managing development as 
tough a challenge as presiding over 
deprivation — particularly in China, 
where the Communist Party has placed a 
high priority on both economic equality 
and growth. 

China’s success in raising living stan- 
dards over the past 20 years is by far the 
most compelling case of how free mar- 
kets and free trade can work miracles 
where other development policies have 
failed. Since Deng Xiaoping took power 
in 1 978 and threw open China's doors, a 
gust of foreign investment and tech- 
nology has helped the world’s roost 
populous nation move into the modem 
age. By the end of 1995, there were 
234,000 foreign-fin anced enterprises 
registered in China. 

China is second only to the United 
Stales in its ability to draw direct foreign 
investment, and foreign -financed compa- 
nies continue to increase their contri- 
butions to China's overall foreign trade; 
their share at the end of 1995 was 39.1 
percenL 

“International trade has stimulated 
competition and promoted skill devel- 
opment at a tremendous pace in this 
country,” said Pieter Boitelier, chief 
representative of the World Bank in 
Beijing. 

As a result, tens of millions of people 
have climbed out of poverty, new cities 
have sprung up from rice paddies, 
wasteland has been turned into orchards, 
old industries have improved their 
equipment and technology. The national 
economic output has quadrupled since 
1980, and the average person lives bet- 
ter, eats better and consumes more of 
everything from toasters to telephones to 


vorite Sichuan-style restaurant. The price 
of membership; as high as $20,000 a 
person. Despite the cost, more than 100 
Chinese joined before it opened. 

“There’s nothing wrong with elit- 
ism,” said David Tang, the Hong Kong 
resident who planned the club. “With- 
out elitism there would be no progress.” 
he said in his Oxford accent as he stood 
puffing a cigar and greeting guests in his 
traditional Chinese silk suit 

But a world away, along the Avenue of 
Eternal Peace, a bearded man in his 70s 
squatted on the pa vement with his grand- 
son, Zhen Zhen. Their ambitions were 
more modest: their next meal. 

The boy’s mother had died, and his 
father had been laid off by an unprofitable 
state-owned enterprise in Shandong 
Province. 

Once, workers could count on lifetime 
employment at such companies, and their 
families would be part of the “iron rice 
bowl,” but no longer. For three days, 
Zhen Zhen and his grandfather had been 
panhandling for money and sleeping on 
sidewalks. 

’ ‘It’s just the two of us,” die old man 
said, pinching the boy's dirty cheek. 

At almost every comer of die inter- 
section stood a person with another tale of 
poverty amid China's plenty — same 
victims of natural disasters, others of 
man-made ones, like millions of other 
Chinese from the impoverished coun- 
tryside, these people have washed ashore 
in a big city in search of money or 
opportunity. 

The gap between the street corners 
and the private clubs, between the com- 
fortable homes of Chinese leaders and 
the hovels mosi people inhabit, angers 
people who have been fused on adiet of 
socialist rhetoric about the importance 
of equality and the dignity of workers. 


“The ideology of egalitarianism is 
still very much alive,” said Perry Link, a 
Princeton University professor of 
Chinese studies. “ It's one of the legacies 
from Mao. The rising gap between rich 
and poor is foil of irony after a revolution 
that was designed to eradicate that. If 
inequality increases, or is perceived as 
increasing, it’s going to be very incen- 
diary because of this legacy." 

Some party officials agree. “With the 
restoration of the private economy, die 
gap between rich and poor in China is 
widening and polarization is develop- 
ing.” a group ctf orthodox Marxists said 
in a 1995 essay circulated among Chinese 
leaders. Beijing residents have divided 


die wealthy into five categories, accord- 
ing to the China Business Tunes. “Red” 


ing to the China Business Tunes. “Red” 
refers to party or government officials 
who “wear a red hat” and take bribes or 
trade power for money. “Yellow" refers 
to people in die pornography business. 
“Blue t ' is for ocean-going smugglers. 
“White” describes drug dealers. 
“Black* ’ refers to gangsters. 

“These five types of illegal activities 
have severely worsened the social en- 
vironment arid their huge incomes have 
increased income dispan ties,” die article 
said. In a Beijing Youth Daily survey 
published in June, nearly half of those 
polled said they believed dial rich people 
had acquired their fortunes through illegal 
means. Nonetheless, international experts 
say China’s problems should not under- 
mine faith in the benefits of globalization. 
Debra Spar of Harvard University argued 
that was better to be a little less poor, even 
if others were much richer. 

“Are workers in China, Indonesia, 
the United States or wherever better or 
worse off," she asked, “if their wages 


go up, yet the gap between their wages 
and the returns from capital widen even 


more? My personal sense is that real, 
after-inflation wages are more important 
than the relative position of workers. Yet 
in practice, as we know, most people — 
not just workers or economists — tend to 
focus on relative gains.” 





MEDIA ATTACKED — Ishini Wickremesinghe, head of a TV 
station in Colombo, Sri I >anka, arriving at court Thursday to answer 
charges under a prevention of terrorism act that a report of an attack 
on a police station, although correct, had caused “racial hatred.” 


NEW DELHI — President Ezer 
Weizman of Israel said Thursday that 
his country would open an air force 
liaison office in New Delhi to improve 
ties with its Indian counterpart, the 
Press Trust oflndia reported. 

It quoted Mr. Weizman, who was 
visiting an air base in southern India, 
as saying that the two countries had 
many things in common in aviation. 

India's first visit by an Israeli head 
of state triggered worries in neigh- 
boring Pakistan, which has refused to 
establish ties with the Jewish state. A 
Foreign Ministry spokesman in Is- 
lamabad said South Asian countries 
were concerned by what he called 
growing cooperation between India 
and Israel, particularly in the military 
field. (Reuters) 


was ousted in disgrace, police officers 
swarmed through two provinces 
Thursday raiding the homes of 
wealthy Pakistanis. 

Four people were arrested, includ- 
ing Miss Bhutto's father-in-law. 

“The crackdown has begun," said 
Najam Sethi, an adviser to the interim 
government “Within one week we 
expect to arrest 30 to 40 more 
people.” 

Hakim All Zardari, the father of 
Miss Bhutto’s husband, was arrested 
early Thursday at his home in south- 
ern Karachi He was charged wife 
income tax evasion and bank fraud, 
Mr. Sethi said. 

“They came in after midnight,” 
said Munawar Talpur, Mr. Zardari’s 


murder in connection with foe shoot- 
ing i of Miss Bhutto’s brother and 

political rival Murtaza. (AP) 


Suharto Opponent 
Loses Cowt Appeal 


son-in-law. ‘ ‘They didn’t have a war- 
rant or anything. They just took him 


away.” Under Pakistani law, the po- 
lice do not need a warrant to search a 


ISLAMABAD, Pakistan — In foe 
first major crackdown on corruption 
since Benazir Bhutto's government 


lice do not need a warrant to search a 
home. 

Mr. Zardari was jailed a few miles 
from where his son, Asif, is being 
held Asif Ali Zardari has been in jail 
since his wife's government was dis- 
missed Nov. 5. He is charged with 


JAKARTA — The Jakarta High 
Court has upheld a 34-month jail sen- 
tence against a former opposition law- 
maker for railing President Suharto a 
dictator. 

Sri B intang Pamungkas, a framer 
legislator from the Muslim-based 
United Development Party, said in a 
statement Thursday that he had re- 
ceived a formal notice rejecting his 
appeal on Monday. 

Mr. Pamungkas, 50, was sentenced 
in May .for defaming Mr. Suharto in 
lectures to Indonesian students in Ber- 
lin in 1995. He was expelled from 
Parliament last year fra being too out- 
spoken and raising questions about 
government corruption. 

In October, he accused Mr. Suharto 
of corruption and challenged him to 
win office in general elections. (AP) 






•H:, < 


V ’ 1 . . 

V. 

* y* ? 



f 

. 




1 

jA? * 

* 

. £ : • v 

m 

> 


, , * 



WmtanwVrbe WhU^okPm 


Mr. Tao at his Beijing bouse, which, as the Chinese markings indicate, is 
to be demolished. He is being forced out in favor of rich businessmen. 




•Ml 


Burma Says 
It Won’t Lift 
Restrictions 
On Dissident 


Reuters 

RANGOON — A top Burmese of- 
ficial said Thursday that restrictions 
would remain on fofi opposition leader 
Daw Aung San Suu Kyi and that some 
universities would stay closed follow- 
ing student unrest last month. _ 

A senior intelligence official. Col- 
onel Tbein Swe, said foe decision res 
quiring Daw Aung San Suu Kyi to in- 


and visitors aimed to protect her, not 
cause inconvenience. 

“We are concerned for ter. We are 
responsible for her safety,” Colonel 
Them Swe said after the monthly news 
briefing by foe ruling State Law and 
Order Restoration CounoL 

He said he did not know when foe 
restrictions migbt be lifted, saying only 
that they would be relaxed when the 
situation was normalized. . 

But Daw Aung San Suu Kyi, who was 
released from six years' house arrest in 
July 1995, said in a telephone interview 
Thursday that it was r ‘vexy silly” to 
presume the restrictions were imposed 


“Idon'ttake them seriously and hope 
you don’t either,” die added. “I don’t 
think they are helping me in any 


Daw Aung San Sun Kyi is obliged to 
advise officials of her social plans. The 
officials also make arrangements for her 
to travel within Rangoon or allow vis- 
itors past foe blockades on her street. . 

Meanwhile, Deputy Education Min- 
ister Than Nyunt said some of foe uni- 
versities that were font in early Decem- 
ber, several weeks before regular 
holidays, would reopen Monday. 

But foe schools at the center of the 
recent unrest would remain closed for 
foe time being, be said. About 50.000 
students across foe country would be 
affected by the closures. 

In early December, foe government 


placed restrictions on Daw Aung S«n 
Sou Kyi following a wave of studti».. : 
protests against foe military regime. 
Rangoon nas accused the opposition 
leader’s National League for Demo- 
cracy Party of politicizing die demon- 
strations. 


- 

■.-wKjta 
„ . «vy *<t* 

. nw % 




In Hong Kong, 
Greater Hopes 
For the Future 


-VV9.^I 


Reuters 

HONG KONG — People in 
Hong Kong are becoming more 
confident about their future as the 
transfer of foe British colony to 
Chinese rule looms just six months 
away, according to an opinion poll 
released Thursday. 

In a telephone survey of 520 




people, conducted on Monday, 
77.9 percent of those who respond- 


77.9 percent erf those who respond- 
ed expressed confidence about 
Hong Kong’s future, compared 
with 66 percent three weeks ago. 
The number saying they were not 
confident dropped to 9.6 percent 
from 102 percent, according to foe 
survey, which was conducted by 
foe University of Hong Kong. 

But another survey, by the 
Chinese University of Hong Kong, 
said that more of the territory’s 
young people were concerned 
about human rights and other 
freedoms under Communist rule. 

In that poll, conducted in 
November and released Wednes- 
day, 26.9 percent of foe respond- 
ents said they were worried about 
the preservation of rights after con- 
trol of the territory passes to Beijing 
at midnight on June 30. 

The figure was up from 17.9 


percent in a similar survey in 1995, 
Tnnofov Wring. a researcher at the 


Timothy Wong, a researcher at the 
Chinese University of Hong Kong, 
said Ihursday. 

The November study, which 
polled 1,300 Hong Kong residents 
aged 15 to 24, also found that 59.5 
percent regarded hitman rights and 
freedoms as the most important of 
all civil liberties, compared with 
23.2 percent in 1995. 






'A-unt • 


Taleban to Punish 
Any Failure to Pray 


GM; As Chinese Incomes Rise, Carmaker Bets $2 Billion on a Budding Consumer Culture 


Continued from Page 1 


60 cents a day declined from 270 million 
in 1978 to 65 million last year. 

The boom has created opportunities. 

Wu Mingtao. 23, is a painter at a 
construction site in eastern Beijing. He 
lives in a makeshift room with more than 
40 other workers and can roll his be- 
longings into a small sack, but he earns 
S 1 70 a month and sends virtually all of it 
back to his parents in Jiangsu Province, 
who have built a two-story house in foe 
country side. 

“I don’t think of myself as poor,” 
said Mr. Wu. who plans to return to 


Reuters 

ISLAMABAD, Pakistan — Af- 
ghanistan’s ruling Taleban move- 
ment said Thursday that it would 
punish Muslims who failed to per- 
form their fi ve-times-a-day Islamic 
prayers in the capital, Kamil. 

A Taleban order broadcast tty 
official Kabul radio, monitored in 
Islamabad, said that observances 
would be checked by units of a 
government department, Amar Bel 
Maruf wa Nahi Anil Munkar, or 
Promoting Good and Fighting 
Evil. 

It asked all citizens, including 
shopkeepers and government em- 
ployees, to stop work on bearing foe 
muezzin's call for prayers and to go 
to mosques. 

Taleban, which captured Kabul 
in late September from foe deposed 
government of President Burtia- 
nuddin Rabbani, has enforced a 
strict Islamic code, including a re- 
quirement that women be veiled, in 
foe more than two- thirds of Af- 
ghanistan that it controls. . 


away too much in the terms of its pro- 
posed joint venture with Shanghai 
Automotive Industry Corp. 

But to GM's executives, it doesn't 
matter foal the passenger car market now 
is small — just 322,000 vehicles sold in 


1995, and the 1996 figure probably fell 
short of foe target of 400,000. Buyers arc 


still largely from foe country's elite. 

GM also says China has vast potential 
as an efficient, competitive zone from 
which to export finished vehicles and 
parts to the rest of the world. 

Are foreign car companies threaten- 
ing their own futures by building strong 
competitors in China, as U.S. electronics 
companies did by sharing their tech- 
nology with Japan a generation ago? 

GM, fra one, puts those concents aside, 
‘•wru: .. 


gling with old technology, poor man- 
agement, a surplus of workers and crip- 
pling regional rivalries. Because each 
region wants its own auto industry, there 
are more than 120 auto companies and 
around 2,000 auto-parts companies, ac- 
cording to a report by Japan’s Daiwa 
Institute of Research. 

As a result, economic planners have 
laid out a scenario that merges the play- 
ers into three or four motor-vehicle con- 
glomerates within 15 years — and with 
aspirations far beyond its domestic mar- 
ket. The planners want Chinese auto- 
makers to join foe ranks of Toyota Mo- 
tor Corp., Nissan Motor Co. and GM in 
battling for global sales. 

Foreign money and expertise are a 
key to all of this, and China is inviting 
companies in on a case-by-case basis. 


ventures now account fra about half of 
all passenger-car production in Orina). 

But, Mr. Schlais said, he met with 
Chinese leaders and agreed that GM 
would “look at C hina as part of die 
global market," meaning it would get 
state-of-the-art technology and that foe 
products GM brought to China would be 
new products. 

GM also decided to pledge a tech- 
nology exchange, to become a “sig- 
nificant player’’ in foe local autocalls 
market, to hire and train Chinese em- 




ployees and to commit itself to China 
for the lone term. 


tra one, puts those concerns aside, looking closely for those that would best 
IfChina s intern is to ^become capable advance that plan.They are not allowing 


for the long twin. 

In addition to building a modem as- 
sembly plant in Shanghai, GM has offered 
to create a sophisticated research and de- 
velopment center where Chinese engi- 
neers would be taught to design cars. 

GM already has established institutes at 


.the m ain challenges of the pro gran t 

Ak^partofGM'sstralegyistofosKy 
the manufacture of auto parts' here be- 
cause foe country's leaders want China to 
be more than just an assembly site; In 
fact, China has said that new joint veff- 
tures mil be required to produce pas- 
senger cars containing' 40 percent 
Chinese-made parts foe first year of pro- 
duction and 80 percent by the fifth year. 

So far, Delphi has set up 10 joint 
ventures mOrina at a cost of $250 mil* 
lion, and it plans to have twice that many 
in foe next couple of years. Mr. von 
Master said some of die ventures were 
almost immediately profitable, while 
others would cate years to make money. 
' Volkswagen is most frequently hud 
up as proof that foreign automakers can 




"" 




m r * 


make a profit In China. 
Its . fO-vear-old Sh 


of producing a car,” Mr. Schlais said, 
“they will become capable” whether or 
not GM is involved. ‘ Td rather be work- 
ing with them as a partner. My feeling is 
we are doing exactly foe right thing.” 

In recent years, as family incomes 
have grown, Chinese officials have fo- 
cused on making passenger cars. But 
China’s stale-owned industry is strug- 


year-old Shanghai Volks* 


vV 


companies as well. 

When Mr. Schlais was dispatched to 
GM’s China operations a couple of years 
ago, foe company feared it was already 
too late. The door seemed to be closing, 
as China .had made several deals, in- 
cluding one wkh Volkswagen AG (its 


P e °P fe from China to Canada to watch foe since its first year of operation, ac- 

Slrtltrlin TTTTYtl iTtifin rvf *i iwmii ImA * — J- — - a ■ 


start-up production of a new line of cars. 

Rudi von Meister, who beads the 
China operation of Delphi Automotive 
Systems, GM's parts subsidiary, ac- 
knowledged that incorporating up- 
to-date technology would be among 


cording to Martin Posfo; a member of 
Volkswagen's management board for 
the Asia-Pacific region. But those profit 
margins are fom. according to analysts, 
and otter Volkswagen projects here are 
not malrihg money. " 





. li t ■*- 


•>.***•» 






m 



SS3 






;«• - *: *•••- ... 


■ r'. - 






i*' ■ ♦-‘x -.- 






w na >y» 

7? ‘.U» 

eut 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


PAGE 5 


n Di 


: ' 7=^ 

: **s* 

r-J? Jr 

” -•.-. r...; 

• -• .'•** « 

■ " o 

~ % ‘ 
Utf: 

-it 

• '"rij 

• ; ^ 

- - ?ia£; 

r P die* 

• ' *■■“ =fc. 
jL'C? V 

-•■'Cf. 

' ■. 


H r- 




In i! on” Rons 

L 

>r»’;i!»*r Hope 
inr tin- Future: 




/i«r 


r'U 


iW 


EUROPE 


Chechen Payment: 
Camels or Cash 

The Associated Press 

GROZNY, Russia —A recently 
established Islamic court ' in 
Chechnya has ordered a man to pay 
63 camels to fee relatives of a man 
he killed in a traffic accident; 

Muslim separatists effectively 
control Chechnya after a 20-month 
war with Russian troops, and they 
have set upa. number of Dew .courts 
based on their interpretation of Is- 
lamic law. or Sharia. 

On Tuesday, three judges con- 
victed AE. Khasiev of killing Yusup 
Akbulatov in a traffic accident and 
ordered him to pay 63 camels to Mr. 
Akbulatov’s family. Ooeproblem: 
There are ho camels in Chechnya 
As -an alternative, Mr. Khasievcan 
ay $63,000 to Mr. Akbulatov’s 
lily, the judges said. 


For Humiliated Russians, All Quiet on the Chechnya Front 


By Lee Hockstader 

Weuhmgtun Pan Service 


MOSCOW — Quietly and with little 
ceremony, fee last Russian combat units 
have been withdrawn in recent days 
from the separatist republic of Chech- 
nya. a final, sour symbol of Moscow's 
defeat in a bitter and bloody war. 

Wife inadequate housing at the dis- 
posal of fee aimed forces, some of fee 
departing troops have left Chechnya 
only to wind up shivering in crude, 
unheated and abandoned barracks in 
southern Russia or camped out in tents 
on frozen fields: 

“We have been relocated to this 
place where nobody needs us," Ser- 
geant Anatoli Kuzmenko told Tzvestia. 
‘‘Therefore, we are waiting here in an 
empty field to meet our fate." 

The pullout cones two years, almost 
to the day.after Russian troops and armor 


unleashed a full-scale New Year’s Eve 
assault on fee Chechen capital, Grozny, 
that the Kremlin boasted would extin- 
guish Chechnya’s talk of independence. 

Instead, it left the streets of fee city 
littered with- fee remains of Russian 
armor and Russian soldiers, stoked the 
flames of Chechen nationalism and 
touched off a 20-month war feat left tens 
of thousands of people dead, most of 
them civilians. 

Humiliated Russian Army officers 
have attempted lately to explain away 
fee military debacle by contending that 
fee Chechen guerrillas were in fact pro- 
fessional warriors wife expert training 
from fraternal Muslim countries. 

Thai represents a shift from the of- 
ficial line maintained throughout the 
war, according to which fee separatists 
were described as small bands of armed 
criminals and hooligans. 

In fact, all evidence suggests that most 


of fee Chechen fighters were ordinary 
men, mostly civilians, who had taken up 
arms to defend their homeland against 
Russians whom they saw as invaders. 
They were highly motivated, but what 
training most of them had received gen- 
erally had come from fee Soviet Army. 

"Our dimwitted leaders finally un- 
derstood the rather obvious fact feat it 
was impossible to win a partisan war 
with Chechnya.” Sergei Kovalyov, 
who resigned as the government's hu- 
man-rights chief over fee conflict, told 
the magazine Novoye Vremya. 

At the height of the war, more than 

40.000 troops from the Russian Army 
and the Interior Ministry were in 
Chechnya. They were vanquished in a 
lightning raid on Grozny by Chechen 
fighters in August. 

A peace deal that included the with- 
drawal of Russian troops was then 
brokered by Alexander Lebed, acting in 


his brief incarnation as President Boris 
Yeltsin's security chief and special 
peace envoy to Chechnya. 

Russian military officials said that in 
the past couple of days, all combat 
forces had been withdrawn from 
Chechnya, leaving only a small number 
of logistical and transport troops. They, 
too, are scheduled to leave the republic 
in fee next three weeks or so. 

"The war in Chechnya was stopped 
in 1 996,’ ’ Mr. Yeltsin said in a year-end 
interview with Russian reporters 
Monday. “I will not venture to say that 
the vicious circle of intolerance and 
hatred has been broken fully and every- 
where.’ ’ he said, “but I will consistently 
pursue this course” of peace. 

Questions remain about whether 
Chechnya is legally still part of Russia. 
According to the peace deal, the issue is 
to be deferred until 2001 . But there is no 
mistaking the picture on the ground in 


Grozny: The Kremlin’s writ does not 
extend there. 

The costs of fee war have not only been 
to Russia’s wounded pride or authority in 
Chechnya. The war also demolished 
whatever prestige the Russian Army once 
had as a well -trained and formidable 
fighting force. Now. Russia's partners 
and foes alike know better. 

The war's price in lives has also been 
high, with estimates ranging from 

30,000 to 80.000. 

But in other ways, especially in fee 
international arena, the war in Chechnya 
was not an especially costly venture for 
Russia: Wife the war still under way, fee 
International Monetary Fund approved a 
$ 10 billion loan to Russia, and despite an 
avalanche of reporting about massacres 
and ofeer atrocities by Russian troops in 
Chechnya, Moscow was welcomed into 
European organizations dedicated to fee 
furtherance of human rights. 


BRIEFLYfi.;,? 


u i < u b t 


Bern Apologizes 
To Jewish Groups 

GENEVA — The outgoing Swiss 
president, who caused an internation- 
al storm by dismissing as “black- 
mail" demands for compensation for 
Holocaust ' victims, apologized 
Thursday for his remarks. 

Jean-Pascal Delamnraz said he re- 
gretted that his comments had been 
“misunderstood," His spokesman, 
Tho mas Schwenri lmann, said Mr. 
Delamnraz was sony for any grief he 
might have caused families of Holo- 
caust victims. 

But the spokesman said Mr: Dei- 
sm uraz stood by the government’s 
view feat it was premature to set up a 
compensation fund for Jews who lost 
assets daring World War n pending 
the outcome of a full investigation. 

In an interview Tuesday, Mr. Del- 
amuraz described demands by some 
Jewish grmms for a compensation fund 
of $250 minion as “blackmail.” (AP) 

Ex-Mhuster Released 

LIEGE, Belgium — A former min- 
ister, Alain Van der Biest, was re- 
leased from detention Thursday, four 
months after he was arrested and ac- 
cused of involvement in the murder of 
former Deputy Prime Minister Alain 
Cools in 1991. 

His attorney. Jean-Luc Dessy, said 
the accusations were not strong 
enough to merit his detention. The 
charges against Mr. Van der Biest. 
formerly a pensions minister and a 
regional interior minister, remain. He 
was arrested in September.- - (AP) 

Kohl to Meet Yeltsin 

BONN — Chancellor Helmut 


Kohl of Germany will meet with Pres- 
ident Boris Yeltsin of Russia on Sat- 
urday, hoping once more to use their 
close personal relationship to advance 
the cause of NATO expansion and 
partnership wife Moscow. 

Mr. Kohl will be die first Western 
leader to visit Mr. Yeltsin since the 
Russian president returned to work in 
fee Kremlin at fee end of December 
after undergoing heart surgery. 

The item likely to dominate the 
agenda is the North Atlantic Treaty 
Organization's plan to admit mem- 
bers from Eastern Europe despite ob- 
jections from Moscow. ( Reuters ) 

Greek Aide Resigns 

ATHENS — The Greek secretary 
of state for foreign affairs resigned 
Thursday, saying he had been un- 
fairly atfevfrpd during his tenure. 

Christos Rozakis, an advocate of 
improving ties with Turkey, fee re- 
gional rival of Greece, had drawn 
criticism for proposals on military af- 
fairs feat were considered liberal. 

The Socialist minis ter had been ap- 
pointed to the post following fee re- 
election of fee Socialists in Septem- 
ber. (AFP) 

For the Record 

Divers recovered 17 of the 20 
people trapped inside a capsized 
Greek cement carrier before it slipped 
beneath the waves in shallow waters 
off the coast of Euboea Island in 
Greece early Thursday. (AP) 

Germany plans to crack down on 
smugglers of illegal immigrants by 
increasing fee number of border pen 
lice near Poland -and the Czech Re- ‘ 
public; Interior Minister Manfred 
kanfeer said in an interview pub- 
lished Thursday. (AFP) 



Van Near a Belfast Hotel 
Held IRA Explosives 

Vehicle Was Abandoned to Avoid Troops 


Bn» LauWMpacr tanfm 

Soldiers guarding bags of homemade explosives in Belfast on Thursday. 
The police said the bags were found in a van abandoned by the IRA. 


Reuters 

BELFAST — A van abandoned by 
fee Irish Republican Army near a Bel- 
fast hotel earlier this week contained 

1,000 pounds of explosives, the police 
said Thursday. 

Late Tuesday. British security forces 
sealed off park land around Belfast 
Castle, a former private mansion packed 
wife revelers, as bomb disposal officers 
tried to establish if fee vehicle contained 
explosives. 

The police said they had also found 
other bomb-making equipment in fee 
vehicle apart from the homemade ex- 
plosives. 

“It contained about 1.000 pounds of 
explosives in two bins, also detonating 
and and ofeer bomb-making equip- 
ment,” a police spokesman said. 

Security forces are cautious when dir- 
ected toward targets by fee IRA because 
they have been surprised by booby traps 
and secondary bombs in fee past. 

The police said a man using an IRA 
identity code word telephoned new or- 
ganizations late Tuesday saying there 
was a land mine in fee vehicle. He said 
fee group had dumped the vehicle after 
encountering British counterguerrilla 
activity. 

A senior police officer said fee in- 
cident was not unexpected in the current 
security climate. "We have been warn- 
ing for some time of the likelihood of 
terrorist attacks and have taken steps to 
counter the efforts of paramilitary 
groups to inflict death and destruction,'’ 
said Chief Superintendent William Dav- 
idson of fee Royal Ulster Constabulary. 

The Northern Ireland secretary. Sir 


Patrick Mayhew. on Wednesday de- 
scribed fee IRA’s action as "a New 
Year message" from what be called 
criminal gangsters who had not turned 
away from a strategy of violence to 
achieve their political objectives. 

The police said officers on high alert 
had already become suspicious of a van 
parked in the hotel grounds and called in 
the bomb squad. A bride and groom, 
their guests and others attending New 
Year’s Eve receptions were among 
those led out of fee building. 

Security has been stepped up across 
Northern Ireland and in mainland Bri- 
tain since fee IRA abandoned a cease- 
fire last February in a 27-year campaign 
to end British rule. 

The IRA set off a wave of bombs in 
British cities, and in October killed a 
soldier at British Army headquarters 
south of Belfast. 

Tension increased recently wife signs 
feat pro-British guerrillas might end a 
two-year truce. Booby-trap bombs were 
placed under cars belonging to repub- 
lican militants, injuring one of them. 
Unionist hard-liners were blamed. 


Arms Race in Budapest 

Reuters 

BUDAPEST — The police said 
Thursday feat the level of violence in 
Budapest had reached a new peak wife 
the firing of an anti-tank weapon at an 
empty apartment above a nightclub 
where a New Year’s Eve party was 
being held. 

The shell failed to explode. 


The IHT Pocket Diary Puts 1997 Right Into Your Pocket. 


• Fear afteryear— even at a period 
when diaries abound — the International 
Herald Tribune flat, silk-grain leather 
e£ary is the hit cf the season. 

Ingeniously designed to be thinner- 
than-thin, it still brmgsyou evetythmg... 
including a built-in note pad with abvays- 
avenktbie “jotting paper". Plus there are 
conversion tables cf weights, measures and 
distances; a list of national holidays by 
countr y, a wine vintage chart, arid many 
other usefldjacts. All in tins incredibly flat 
little book that slips easily into a pocket. 

The perfect gfl for almost anyone... 
including yourself. 

Please allow three weeks for delivery. 



• Measures If x 13 cm (5 1H x 3 in.). 

-* Blade leather cover with gill meta] comers. 

• WeeJc-at-a-giance format, printed on French blue paper 
witb gOded page edges. 

• 1 997 notable dates and national holidays in over 90 
countries; world time- zone 
taWe; ioteraalkxial telephone 
dialing codes and country 
prefixes. 

• Blue ribbon page marker. 

• Includes removable address 
book that fits snugly into its 
own silk pocket. 

■ Each diary packed m a bhie 
gift box. 

• Corporate personalization 
and discounts are available. 
For details, Eax I^ii Baker 
at (44 181)9448343. 



TH£ WOBUrS DMD’ NEWSBtfEH 

Please send me ____1997 IHT Fo&et Diaries. 

Price includes initials, packing and postage in Europe: 

1-4 (Saties UK £22 (U-SS34)eacfa mitals. 

5- 9 diaries UK £20-50 (U-SS32) each | 

10-19 diaries UK £18 <US.$2S)each 1111 

□ Additional postage outside Euro pe £4.50 (U.S57). 
npiwfrfara fhr delivery outride Europe by registered or 
certified mad: £5.75. (U.S.S8.90) per package plus postage. 

fty ment Sc hy credit card only. AD major cards accepted. 


Please charge to my credit card: 

EH Access ED Amex Cl Diners d Eurocard O MasterCard C] Visa 

CardN° 1 

Exp. Signature 

Name ; — ! 


3-1-97 


Address. 


C3ty/Code. 
Country 


Company EU VAT ID N° 

Mad or fax this order form to: International Herald Tribune Offers, 

37 Lambton Road. London SW200LW UJC. Fax: (44 181)9448243. 


INTERNATIONAL CLASSIFIED 


Escorts & Guides 


ATLANTIC 

EYSff MAJOR CITY WOTDWBE 

LOUKBi PARS NEW YORK 
++ 44 {0} 7000 77 M 11/2203 
++ (1) 212 785 1919 


\tapJfmmAdsrim 


l 


BRUSSELS ; 

VIP. 

frit Cass &cot Saws n 5e Capfel 
of Ewpe, Any 91* a* language ate 
rtfe lor sfi occasns ifcnes. earns- 
partes, MBbnO. ■aasns at fte «- 
pea £ fimusne te Swr AJcnafl 
etas 8X53*01 vttts, 7 slap a wet 
PRONE: (+32J2) 64&3BJ3 
FU:(i&5mL7Mi " 
E43sbieBst!nsseiE.ri^teftaaUe 


BELGRAVIA 

ORCHIDS 

WTHWATONAL ESCORTS 

. Woricfs Fra 8 tea Britan Sons 
Uodate, Beauty Owen, Adraoes 
■rfUnpni Trawl Goopnioos 

Hdqtrs. 212-765-7896 NY, USA 

Sente woridrida. Cra* cana, efisis 
accepted View videos A ptute in cftca 

LONDON -PARIS 


THE FOOT ft THE HOST SMCERE 
18 - 38t KTHWATXWAL 
BEAUTIRJL A ELE6AKT STVOSfTS 
SECRETARY. JUT HOSTESSES & 
limns + 

AVAILABLE FOR ALL 0CCASDIS 

BEVERLY HILLS 

VENUS IN FURS 

24WT WORLDWIDE ESCORT SERVICE 

LONDON 0171 3fi2 7000 
Al cnK. Admcs bookings wetane 


NEW YORK 

SERVICE WORLDWIDE 

Escort Agency Credit Ctas Mcobib 

ELITE Escort Senw 
tew tork cm 
V80W64-SB7 

TEL LONDON h- 44 (0 } . 

0171 589 5237 

HSDfS HSH SOCETYVEHiA'PARS 
COTE DA2UR i 2UWCH ■ GHF 
IntemaSoral Escort & Trawl Saws 
Vtora ++4J 1-5354104 £ d®* csi* 


KM Toe HUM EscwtfTfBval Sentcs 
VHWA+AHS10ND0N 
ETAMJUL & tfnughoU GBBJANY 
Beganr SophfefictetTE>cUfw 
AJ E writs caB ++43-1 -71 87355 


MRAMTOUETrALY’UNDON'PAflG* 
BRUSSEL LKaANOTJADRlirUUNlCH 
D'DOftF'RIVtERA - VIENNA Escort Ser- 
rea Tel +39(0)348 220 1862 Cards 


BEAU BELLE ESCORT SERVICES 
i Morifflmen 18 - 55. tema- 
r tei Madtfssn. Carts Accepted. 
London - Pa* 0410 4771G2 


AMSTERDAM BERMDETTE 
Escort Sovte i Omar Dates 
Tet63lB336or631 06«l 


8 BW, BASEL, ZURICH 
ESCORT SERVICE 
*41/77*80505 OR 77*80860 


HELENA ESCORT SERVICE 
LOGON HEATHROW 24 HRS 
TE: 0650 173848 


KIRSTEN CHARISMATIC REDHEAD 
Pmrafc Escat Sente TetOTTI 266 
2696 QsS Carts AccepBl 


MCCTChmrak.BeteU 
Pnste Eaaf Service 
Kensington 0171 792 0881 


To OIJR READERS 

m Belgium 

It’s never been easier 
to subscribe and save. 
Just call toll free 
at 0 800 1 7538. 

tYTEHJMTm\AL 


THE WORLD'S IJbVJQ NEWSPAPER 


For Brussels Bureaucrats , 
Civil Service Can Pay Off 

Reuters 

BRUSSELS — The top basic salary feat a 
European Union civil servant can earn has risen 
to 537.296 Belgian francs a month. 

The amount, equal to $ 1 6.79 1 , is fee salary fear 
will be paid to high-ranking officials, such as 
European Commission directors -general , who 
are at the high end of their pay scale, according to 
a new regulation published in the EU's Official 
Journal. 

The smallest salary for an EU official wife an 
"A-level” post, which requires a university de- 
gree, is 142,178 francs a month. 

Salaries for the lowest-level EU officials begin 
at 73,192 francs a month, wife secretaries earning 
between 80,936 francs and 153.530 francs. 

In addition, civil servants of the European 
Union receive other payments, such as expatriate 
allowances, on top of their basic salaries. 


CROSSWORD 


ACROSS 

i Just sh. as soup 
or collee 
8 Empire Slate 
leader 

T4 island song 
aka ’Farewell 
to Thee’ 


ts Emulate BoOby 
Shaft ob 

is Becomes bored 
with 

17 Uke Romeo and 
Jul>et. m Act Q 
« 1980's Attorney 
General 


JSwvty’d 

Esl 1911, Paris 

“ Sank Roo Doe Noo " 


VEMA-PRACajE: KENNEDY’S Escort 
Service. Friendly, Megen. attractive, 
carte. Day i tipt M3 1 ) 53350(4 


A Space for Thought. 


is Takes care of 

20 Tank earner? 

22 Toodle-oo 

23 Bugs in lines 

27 Flickering 

33 Easily tripped 
up 

as Jam-packed 

3S Think about, at 
mghl 

37 Mountaineer's 
descent 

38 Well-schooled 

39 Prefix with 
scope 

40 Aforementioned 

42 Cenam mourns 

S0 1988 

earthquake site 

53 Cry at a 
basketball 
arena 

54 Ahead 

55 Blow up 

56 One out? 

57 Pussyfooted 

56 Kitchen drawer 

gadgel 

5> Monthly since 
1850 

DOWN 


1 Prolected.es an 
estate 

2 Skip 

3 "Careless 
Hands" singer. 
1949 


a Engage in 
bar- hopping’ 

9 Expiate with 
■lor’ 

10 A-one 

11 WHhout 
warranty 

12 Fictional 
suit-changer 

is Globe plotter 

15 Boorish 
lokester’s 
question 

2i es Salaam 

24 Wine county 

25 Race pace 

2S "Auld Lang 

27 Growing room 

28 Mom's mom 

29 ’Dragnet’ org. 

ao Took unfair 
advantage oi 

31 Fr. title 

32 Alice's 
restaurant? 

34 Word in society 

36 Fries, 
usually 

38 Count Basie's 
' — — Dartin'" 

41 'Haste makes 
waste.' eg 

43 Uke a crone 

44 Reddish-brown 

45 Submit 

48 Pass twice 

«7 Weave in and 

out 

48 Aromatic 
chemical 





3- 











TT" 







TB“ 
















i 


5 

tit 


iF- 

TT 








lT 







,b 














■ 

2 a 

2 * 


26 

In 

1 ) 

3* 





K 

















14 

*5 












ss“i 







S7 







SB 

— 

— 

— 

■ 

— 

— 


PuzzW By umr NawMnfeT 

C-'Mnr York Times/ Edited by W ill Short z. 


Solution to Puzzle of Jan. 2 


Q 0 Q 


□ 

a 

Cl 

0 

□ 

a 

□ 

a 

s 

n 

a 

n 


0 

a 

s 

a 

D 

a 

13 

13 

a 

a 

a 

n 

□ 

D 

a 

m 

□ 

0 

□ 

□ 

□ 

El 

a 

□ 

□ 

EJ 

0 

m 

□ 

□ 

□ 

□G 

as 


□ 

m 

□ 


m 

CD 

q 

a 

□ 

QE 2 KHD 



AY 


lEiXl 


IE T T 


C|H E D 

ALE 

i r s 


LEI 


4 Aviary sound 

so Chow chow. 


0HEHQ 

a 

e 

□ 

s 

a 

3 Deserf dreams. 

perhaps 
cOf doubtful 
morals 

maybe 

sens 

QdC 

Id 

a 

0 

d 

e 

a 

e 

a 

sheaves 
52 Moon 
feature 

DEED 

QL3 

0 

0 

m 

e 

0 

□ 

a 

0 

BHE30 

□E 

□ 

□ 

03 

0 

□ 

a 

a 

7 Got ihe better of 

□DEE 

003 

0 

□ 

0 

m 

e 

□ 


i 


.-.'4 










Hcralb 


INTERNATIONAL 



SribuUC For a Civil America, an Example of Shared Decency 


13 

19 
24 

D 

1 

u 

17 

20 
2 e 

34 

45 

45 

70 

71 
77 
83 
94 
lfr 
2 ): 
2« 


2 

3 

4 

5 

6 

7 

8 

10 

12 

13 

15 

16 
18 
21 
22 

34 
25 

27 

28 

29 

30 

31 
3Z 
33 

35 

36 

37 

38 
40 

42 

43 

44 

48 

49 

50 
52 

54 

55 

56 

57 

58 

59 

60 
61 
62 

63 

64 
68 
72 

74 

75 

76 
79 


Tl 


A sc 


Ex 

Th 


Mo 

jai 


Tuc 

Jai 


We 

Jan 


Thi 

Jar 


Frit 

Jan 


PUBLISHED WITH THE NEW TO IUl TIMES AND THE WASHINGTON POST 


Giving Up on Tibet? 


Last week the Chinese government 
gave a 30-year-old scholar of Tibetan 
music an 18-year prison sentence for 
espionage. Even by Chinese standards 
the sentence is astonishingly long. Zt is 
also a warning to Tibetans that their 
already scarce liberties are now further 
endangered 

Ngawang Choc pel fled Tibet with 
his family when be was 2 to the Tibetan 
exile community in Dbannsala, India. 
He came to the United States in 1993 to 
study and teach ar Middlebury Col- 
lege. In 1995 he went to Tibet to cap- 
ture on video traditional songs and 
dances that be feared were being lost. 
The basis of his conviction is unclear, 
but even taping Tibetan culture for 
expan could qualify as espionage un- 
der Chinese law. 

Since its invasion of Tibet in 1 950. 
Beijing has gradually increased its ef- 
forts to erase Tibet's identity. China 
bas arrested those who protested the 
takeover and tried to eradicate the 
people’s affection for the leader of 
Tibetan Buddhism, the Dalai Lama. In 
the 1960s and 1 970s, the Chinese killed 
thousands of monks and nuns and des- 
troyed virtually all Tibet's monaster- 
ies. China later tried a slighdy softer 
line, but riots in 1987 brought another 
crackdown. Monks have been asked to 
repudiate the Dalai Lama or fa ce ex- 
pulsion. and at least 700 Tibetans are 
□ow in prison for political offenses. 

China's repressive policy is wrong 
both morally and politically. By smoth- 
ering Tibetans' ability to speak, wor- 
ship freely or express their culture, 
China risks driving them to violence. 
Last week a powerful, sophisticated 


bomb blew up outside a government 
building in Lhasa. Althoujpi the Dalai 
Lama bas never wavered in his com- 
mitment to nonviolence and denies any 
link to the bomb, the government 
quickly blamed the bomb on “the Dalai 
clique' 1 and has vowed to retaliate. 

The Chinese government went out 
of its way to link Ngawang Choepe! to 
the United States, charging that Amer- 
icans underwrote his trip and that he 
was gathering information for a for- 
eign agency. 

Indeed. Chinese officials seem to 
ddighr in taunting the United States 
over human rights issues. During a 
visit by Secretary of State Warren 
Christopher in 1994, Beijing arrested 
China *5 leading democracy campaign- 
er , Wei Jingsheng. In May of that year, 
Washington ended the linkage be- 
tween China's behavior on human 
rights and its preferential trading 
status. Only two months later, hard- 
liners at a Communist Party meeting 
pushed through a policy that increased 
Chinese control of Tibet. 

To be sure, American officials have 
scolded Beijing about human rights ab- 
uses in Tibet, Hong Kong ana China 
itself. But the Chinese know they can 
safely ignore such talk. The Clinton 
administration, unwilling to damage its 
relations with Beijing, has failed to im- 
pose any real cost on Chinese repres- 
sion. Whether or not Beijing intended 
Ngawang Choepel’s sentence as a spe- 
cific message to Washington. Wash- 
ington should read it as an indication of 
China's continuing contempt for its 
weak defense of Tibetan rights. 

— THE NEW YORK TIMES . 


Democracy for Serbs 


The most urgent project in Europe in 
the new year is to ensure the people of 
Serbia the leadership of their demo- 
cratic choice. This result would not just 
bring relief to the 10 million people 
who live under Slobodan Milosevic in 
what has been called the last totalitarian 


regime on the continent The example 
and policy of democracy in Serbia also 
would open the surest and shortest road 


— if still a steep and rocky one — to 
resolving tensions throughout the 
former Yugoslavia as a whole. 

But is it sentimental, or at least re- 
grettably premature, to expect die 
street demonstrations of 40-plus days 
to make the difference? Mr. Milosevic 
bas deployed his well-armed and well- 
paid police to harass the daily pro- 
testers. He is tending to his political 
base among workers and farmers — by 
payoffs dial mock economic reform. • 
He is skillfully playing the nationalist 
card and throttling independent Ser- 
bian media voices. 

Discontent is spreading, nonetheless, 
beyond the opposition parties and stu- 
dents who are out on the street The 
Milosevic party’s coalition partner in 
Serbia is urging turn to reinstate the 
opposition municipal-election victories 
whose annulment drove the demonstrat- 
ors to open protest Even Montenegro, 
Serbia's usually pliant junior partner in 
the residual Yugoslavia, is talking about 


honest democracy. The army is show- 
ing signs of detaching itself from Mr. 
Milosevic's political agenda. 

On the international front, more- 
over, the Serbian leader is under ever 
heavier duress. The Organization for 
Security and Cooperation in Europe 
has corroborated most opposition al- 
legations of electoral fraud and is de- 
manding a prompt Serbian response. 
The earlier lifting of "inner wall" 
trade sanctions has made little differ- 
ence because of the regime’s hostility 
to economic reform, while (be “outer 
wall" International Monetary Fund 
and World Bank sanctions are still in 
place and cutting deep. 

For the first year of the Dayton 
peace accords, international attention 
centered on Bosnia. This helped Pres- 
ident Milosevic, who sold himself to 
the anxious West as essential to de- 
livering the Bosnian Serbs to tile 
agreed settlement. Now dungs are dif- 
ferent He seems either unable or un- 
willing to work further on Bosnia. His 
priority is his own increasingly parlous 
situation at home. In that role, how- 
ever, be must answer sooner or later to 
a public that knows him as a leader who 
failed in his reckless goal of creating a 
"Greater Serbia” and left bis country 
broken and bereft, isolated and in dis- 
respect everywhere. 

— THE WASHINGTON POST. 


Backward in Seoul 


South Korea's president Kim Young 
Sam. is coming under domestic fire just 
as he basks in North Korea’s apology 
for its submarine infiltration. As in the 
old days of military dictatorship, the 
police under South Korea's first demo- 
cratically elected civilian president are 
loosing tear gas on mass demonstra- 
tions in the streets of SeouL This time 
die first cause has to do with a new labor 
law. But there is a second cause, a 
domestic spying bill, as welt 

The circumstances of the labor law’s 
enactment are themselves inflamma- 
tory. Blocked by the opposition from 
meeting at the National Assembly, the 
governing party secretly gathered its 
members at 6 A.M. last Thursday and in 
six minutes and without debate rammed 
through this bitterly contested legis- 
lation. The opposition's provocation 
was considerable, but the government’s 
contempt for fair procedure was more 
so. This is a caricature of democracy. 

The labor law itself is no routine 
measure. South Korea needs to meet 
two competing purposes: to match its 
labor procedures to those accepted in 
die advanced democracies, and to meet 
the competition of an ever fiercer glob- 
al economy. The first requires an ex- 
pansion of labor prerogatives, and the 
second an acceptance of a tough mar- 
ketplace discipline. President Kim 


failed to convince his opposition that 
he meant to consult with them freely in 
order to ride these twin tigers. When he 
moved to end South Korea’s lifelong 
employment system by allowing 
companies to lay off workers, he dia 
not weave the tighter safety net that 
could break the fall. 

The national security amendment 
chat also was hustled through Parlia- 
ment at dawn was an add-on that was 
bound to stir the democratic constitu- 
ency. It was South Korea's pride just a 
few years ago to undo the harsh in- 
ternal security restrictions that the gen- 
erals had used to keep the political 
opposition down. Now the civilian 
Kim government pronounces this re- 
form “premature.” It cites the sub- 
marine incident and the "40,000 hard- 
core pro-North Korean leftists in South 
Korea” as reason to strengthen police 
domestic surveillance powers. But no 
serious case has been made. To piggy- 
back passage of toe surveillance le- 
gislation on the labor law can only 
aggravate public anxieties about how 
the new legislation will be applied. 

South Korea has become more pros- 
perous, strong, democratic and respi- 
ted. It should not casually diminish 
these hard-won gains by yielding to the 
pressures and temptations of toe day. 

— THE WASHINGTON POST. 



W ASHINGTON — The 
most affecting and in- 
structive political event of 1996 
for me was a funeral I did not 
attend. I read about it later, and 
it said something important 
about bow the American polit- 
ical system has changed for toe 
worse. The system has lost 
much of its power to conciliate. 
Instead, it often inflames con- 
flicts that, though real, ought to. 
be manageable. 

What crystallized the change 
far me was the funeral of David 
Ifshin, a lawyer who had served 
as counsel to Bill Clinton's 1992 
campaign. One of the men who 
eulogized Mr. Ifshin was Re- 
publican Senator John McCain 
of Arizona. What made this 
moving was not the difference of 
political parties. It was history. 

In 1970. Mr. Ifshin, then in 
his 20s, bad visired Hanoi as an 


By Robert J. Samuelson 


anti-war- protester, while lieu- 
tenant Commander McCain, a 
downed navy pilot, was being 
held and tortured in a Viet- 
namese prison. That these two 
men had reconciled and de- 
veloped respect and friendship 
seemed completely at odds with 
today’s hateful political cli- 
mate. It is a ctimate in which 
people increasingly view their 
opponents as their enemies. 

The reconciliation was not a 
deathbed event. It had preceded 
by some years Mr. Ifshin ’s dis- 
covery of a fatal cancer. Mr. 
McCain had once harshly cri- 
ticized Mr. Ifshin in a speech and 
later derided that it was a cheap 
shot that he regretted. Mr. Ifshin 
had decided that going to Hanoi, 
whatever his view of the war, 
was an unpatriotic act that dis- 


honored American servicemen. 

A measure of the two men is 
that, in their separate tellings of 
their friendship, it is unclear who 
apologized first (The full story 
is recounted by Michael Lewis 
in the May 13 th issue of The 
New Republic.) 

If Mb’. Ifshin and Mr. McCain 
could bury their large disagree- 
ments, why are smaller differ- 
ences so poisonous today? 
After all, theirs was no ordinary 
dispjute. Mr. Ifshin believed that 
toe war was wrong; McCain 
thought it was his duty to serve. 
The Vietnamese held Mr. Mc- 
Cain for five and a half years; 
Mr. Ifshin 's speeches were re- 
peatedly piped into his prison. 

The two of them, it seemed to 
me, were entitled to theft- 
grudges. The conflicts of the 


1960s involved Iife-and-death 
matters, or nearly so — Viet- 
nam, civil rights. What is harder 
to understand is toe present 
ugliness. By and large, the is- 


bates lack “civility,” we say. 
Politics has become “polar- 
ized,” and opponents regularly 
“demonize” each other. 

One answer to the question. 


'J 


I think, lies in • end* <Bf- 
public discourse now are less ference between toepolitics of 
— the ’60s and toe politics of the ; 


momentous and involve fewer 
moral absolutes. 

Abortion is an obvious ex- 
ception. But in general Amer- 
icans face questions — budget 
deficits, affirmative action, wel- 
fare reform, economic insecu- 
rities, Medicare policies, toe ex- 
cesses of popular culture — that 
defy sample solutions and in- 
volve many ambiguities- These 
are issues where opponents can 
often learn from each other, even 
if they continue to disagree. Yet 
politics today is often routinely 
and gratuitously nasty. 

We now have cliches to de- 
scribe the prevailing spirit De- 


But Honest Politics Is Full of Necessary Conflict 


C AMBRIDGE, Massachu- 
setts — Meanness is out of 
season in American life. Calls 
for civility echo across the land. 

Sensing toe backlash against 
incivility. President Bill Clin- 
ton and Republican leaders 
promise to rise above partis- 
anship and seek common 
ground. Members of Congress 
plan a bipartisan weekend re- 
treat to get to know one another 
better and to discuss ways of 
conducting their disagreements 
with greater civility. 

Meanwhile, a growing num- 
ber of national commissions 
ponder ways of renewing cit- 
izenship and community. 

Americans are right to worry 
about toe erosion of civility in 
everyday life. But it is a mistake 
to think that better manners and 
decorum can solve toe funda- 
mental problems of American 
democracy, ha politics, civility 
is an overrated virtue. 

The problem with civility is 
the very thing that tempts politi- 
cians to extol it: It is uncon- 
troversial. Bur democratic pol- 
itics, properly conducted, is 
filled with controversy. 

It is desirable, of course, that 
political debate be conducted in 
a spirit of mutual respect rather 
than enmity. But too often these 
days the plea for more "civil- 
ity ” in politics is a high-minded 
way of pleading for less critical 
scrutiny of illicit campaign con- 
tributions or other misdeeds. 

Likewise, the call to rise 
above partisanship can Wur le- 


By Michael J. Sandel 


tiring Representative Patricia 
Schroeder of Colorado. 

Whether these efforts can 
help rejuvenate civic life will 
depend cm theft willingness to 
grapple with hard, controversial 
questions about toe factors that 
have undermined virtue-sus- 
taining communities in toe first 
place. They must resist the 
temptation, endemic to such 
commissions, to steer clear of 
politically charged questions. 

On the surface, toe project of 
renewing civil society has toe 
same kind of nonpartisan appeal 
as toe call for civility. Who could 
oppose efforts to strengthen 
families, neighborhoods and 
schools? But toe attempt to re- 
pair civil society will be uncon- 
troversial only as long as it re- 
mains hortatory — the stuff of 
Fourth of July speeches and 
State of toe Union messages. 

Any serious effort to shore up 
value-laden communities must 
face up to the forces that have 
undermined them. 

Conservatives like Mr. Ben- 


nett locate the threat to virtue- 
sustaining institutions in two 
sources: popular culture and big 
government. Rap music ana 
vulgar movies corrupt the 
youth, they argue, while big 
government and the welfare 
state sap individual initiative, 
enervate toe impulse for local 
self-help and preempt the role 
of mediating institutions. 

Prune toe shade tree of 
government, they insist, 
families, neighborhoods and 
church-based charities will 
flourish in the space now taken 
by the overgrown tree. 

The cultural conservatives 
are right to worry about the 
coarsening effects of popular 
entertainment, which, taken to- 

drives it. induces a passion fix- 
consumption and a passivity to- 
ward politics at odds with civic 


power to extract tax reductions, 
zoning changes and environ- 
mental concessions from cities 
and states desperate for jobs, 
they drsempower communities 
more profoundly than any fed- 
eral mandate ever did. 

When the growing gap be- 
tween rich and poor leads the 
affluent to flee public schools, 
public parks and public trans- 
portation for privileged en- 
claves, civic virtue becomes 
difficult to sustain, and the com- 
mon good fades from view. 

Any attempt to revitalize 
community must contend with 
the economic as well as the cul- 
tural forces eating away at the 
social fabric. We need apolitical 
philosophy that asks what eco- 
nomic arrangements are hospit- 
able to self-government and toe 
civic virtues that sustain it. 


The writer, a professor af 
government at Harvard Uni- 
virtuel But they are wrong to versxty, is author of “Demo- 
ignore toe most potent force of ‘ cracy’s Discontent: America in 

Search of a Public Philosophy. n 
He contributed this comment to 
The Hew York Times. 


all — the corrosive power of an 
unfettered market economy. 
When corporations use theft 


Between Reverence and Muckraking 


By Geneva Overholser 

W ASHINGTON — “I will not have The 
New York Times muckraking the president 
of the United States,” James Rest on. then Wash- 
ington bureau chief for The Times, said during 


gitimaie policy differences or , the Kennedy administration. 


justify a politics that lacks prin- 
ciple or conviction. 

From the New Deal to the 
civil rights movement, prin- 
cipled politics has always been 
partisan, at least in toe sense of 
requiring the mobilization of 
like-minded citizens to fight for 
a cause that others oppose. 

The incivility now rampant 
in American life will not be 
cured by exhortation or by a 
muting of political differences. 
Americans’ worries about in- 
civility express a deeper fear 
that the moral fabric of com- 
munity is unraveling. From 
families and neighborhoods to 
cities and towns to schools, con- 
gregations and trade unions, toe 
institutions that traditionally 
provided people with moral an- 
chors and a sense of belonging 
are under siege. 

Taken together, these forms 
of community are sometimes 
described as toe institutions of 
“civil society." A healthy civil 
society is important not only 
because it promotes civility (al- 
though this may be a welcome 
by-product) but also because it 
calls forth the habits, skills and 
qualities of character that make 
effective democratic citizens. 

Above all, the institutions of 
civil society draw us out of our 
private, self-interested con- 
cerns and get us in the habit of 
attending to toe common good. 

A century and a half ago, 
Alexis de Tocqueville praised 
America’s vibrant civil society 
for producing toe * 'habits of the 
heart" on which democracy de- 
pends. If Tocqueville was right, 
there is reason to worry about 
the health of civil society, even 
beyond its effect on the man- 
ners that people- display in 
stores and on toe streets. 

For if families, neighbor- 
hoods and schools are in ill re- 
pair. they may be failing to pro- 
duce the active, public-spirited 
citizens a successful democracy 
requires. (The dismal turnout in 
the recent election may be one 
indication of this effect.) 

This at least is the hunch un- 
derlying a profusion of national 
commissions sprouting up to 
explore ways to renew citizen- 
ship and community. They in- 
clude toe Penn National Com- 
mission on Society; Culture and 
Community, which convened 
this month in Philadelphia; toe 
National Commission on Civic 
Renewal, led by William Ben- 
nett and retiring Senator Sam 
Nunn of Georgia; toe National 
Commission on Philanthropy 
and Civic Renewal, whose 
chairman is former Education 
Secretary I.«amar Alexander; 
and the Boston-based Institute 
for Civil Society, which re- 
cently announced a project on 
civic renewal to be led by re- 


Jt seems like a lot of reporters kind of stake 
their reputation on trying to find something about 
politicians, like sharks going fix' blood,” says a 
Washington Post reader, commenting on the 
style of today's political reporting. 

So much has changed since the time when 
most Americans believed wholeheartedly in 
those who governed them. 

But if today’s reporting seems cynical, look at 
the politics it covers. Mr. Reston's reverential 
tone is hardly appropriate to a politics of pos- 
turing, manipulation, image-malting. The age of 
heroic leaders is long past 
The press owes it to the public to lay bare toe 


politics — but also to look further. Newspapers 
cannot solve what corrodes American civic fife 
today, but they can dp less to worsen the ali- 
enation — and maybe help foster that sense of 
shared hopes and purpose vital to democracy. 

We are, as Philip Meyer, a. University of North 
Carolina journalism professor.- has said, in a 
period of “moral confusion as the players change 
and as the media grope far a new ethic.” 

In searching for that etoic, we must begin with 
the thought that there has to be something bigger 
at the heart of political reporting than cleverness, 
timeliness, insider status, a nose for deceit and a 


'90s. Conflicts then bubbled up 
from toe depths of society, and 
toe political supeisttucture — 
the president, Congress, other 
elected and appointed officials ; 

tried to grapple with them. 

By contrast, today’s conflicts; 
are often consciously matured 
by political leaders and elites. ‘ 

There has been a role reversal. . 
The political leaders of the 1960s ; 
strove to resolve conflicts that ‘ 
they usually had not predicted 
and often did not understand. " 
The governing class, Democrats 
and Republicans alike, had to; 
deal with mass marches, street • 
protests and a frontal assault — 
coming mostly from campuses 
— on toe very legitimacy of the 
political system and almost all ; 
authority figures. The political 
Systran, often grudgingly, strove ! 
to acknowledge these pressures - 
and channel them into formal' 
politics. The effort was to me-, 
diate differences. 

The governing class of today .’ 
focuses more on merchandising . 
differences. Your virtues are ‘ 
defined by your adversary’s 
vices. It’s a way of creating a ‘ 
political identity. If the differ- - 
ences are minimized or fade 
away, what remains ? 

It is not just politicians who 
embrace this salesmanship. It is ‘ 
how advocacy groups and lob- 
bies appeal to their members. It ; 
is how journalists and talking 
heads engineer theft own ; 
celebrity. Debate proceeds in 1 
the superlative. The other side’s 
argument isn’t just wrong, it’s * 
ruinous, ft threatens the Shore 
of (take your pick) the eco- ! 
nomy, the environment, demo- 
cracy or toe society itself. ’ 

I am not arguing that we . 
should submerge genuine d ;r 
ferences. Healthy debate shook 
be pointed and, at times, scath- 
ing. But I am suggesting that the ? 
cultivation of conflict, rather 
than of its resolution, has be- ; 
come a larger concern of politics 
and that a lot of the resulting ill 
will is powered by self-promo- 
tion. ft is huckstezism. 

The causes of this change are ! 
not obvious, at least to me. 
Television (which encourages * 
sensational sound bites), the 
growth of government (which ' 
spawns advocacy groups) and. 
the collapse of old-time polit- 
ical machines (which makes 
politicians more insecure) — all 
these are possibilities. 

But whatever the causes, the 
phenomraon stretches across’ 

clewdangea^fthasalrea^^ ? 
creased Americans' normal dis- ’ 
taste for politics. Character as- 


(- 


knack for catching somebody. What America 
wants now is to make some sense of today's ' sass matron often substitutes for , 
problems, to find some way forward, even when measured debate; that does not 


vhere between reverence and shades 
after blood lies an answer, and 1997 is a good 
time to seek it 

The Washington Post. 


in general, . 

A Pledge of Civility for the New Year portrayed. But 

C7 J witness harsh 


inspire respect. And toe exag- 
gerated differences among 
political elites — politicians, * 
pundits, advocates — may ' 
amplify actual differences ; 
among ordinary people. 

In general, Americans are 
than they are 1 
we routinely 


B OSTON — My friend has 
taken a vow of civility for 
the new year. She is not a have- 
a-nice-day kind of gal; no 
bumper sticker exhorting other 
people to “commit random acts 
of kindness'' ever graced her 
car. But after a year in which she 
finally began surfing away from 
political attack ads and banning 
"McLaughlin” groups from 
her living room, after assorted 
encounters of toe third finger 
kind with hostile drivers, and 
too many silent exchanges with 
supermarket checkers, she has 
decided to try going civiL 
Starting trow, she will not 
only ratchet up toe pleases, 
thank yous and womd-you- 
minds, but also the friendly eye 
contact and the small daily con- 
versations that are so trivially 
labeled as * ‘ mere pleasantries.” 
They do not seem so mere to her 
anymore. She has resolved to 
liberally apply the lubricant of 
pleasant social exchanges to her 
brittle urban village, /tod see if 
it makes a difference. 

I applaud this vow of civility. 
In collusion, I offer her the name 
of the surly dry cleaner from 
whom I have yet to wrench toe 
glimmer of a human response. 
But I wonder if she is just oik 
vow ahead of the curve. 

Civility has become a catch- 
word in toe past year, as if 
Americans experienced some 
great, late, collective awaken- 
ing to the coarseness of public 
discourse, the rudeness of 
private life. There is talk of spit- 
ting ballplayers, swearing lyr- 
icists ana dirty-warring politi- 
cians. In some odd twist, 
incivility has even become an 
accusation for combatants to 
throw at each other. 

The calls for civility now 
come from left, right and center. 
From the progressive minister 
Jim Wallis to the cranky judge 
Robert Bork. 

In one radio address, toe pres- 
ident called for civility in de- 
bate. And before a (aw sdrool 
audience last fall, no other than 
Justice Garence Thomas criti- 


By EHen Goodman 


cized "individuals wfao’ve for- 
gotten the common standards of 
decency that every individual 
should show to others.” 

Still, I am uncertain if these 
civil servants mean the same 
thing. Is civility a point of 
agreement across toe spectrum 
or just an easy clichd? 

The motto of the 1960s was 
“Tell it like it is.” The motto of 
the late 1990s may yet become 
“Mmdyonrmarmers.” But un- 
der this surface agreement it is 
not clear whether we want to 
resolve or merely repress dis- 
agreements. ft is not clear 
whether we are hoping for a 
Disney World kind of courtesy- 
or-else between citizens, or a 
genuine reconnection. 

Last month a New England 
family donated $35 million to 
fund a new Institute for a Civil 
Society. There was a huge re- 
sponse to the announcement of 


fear that I'm not sure I matter, 
that maybe we’re all expend- 
able.” In this dialogue, we 
aren’t just talking about toe be- 
havior of a driver who cuts in 
line, but of a boss who treats 
workers as disposable, a com- 
munity whose people remain 
strangers. 

The outcry for civility is as 
modest as it is wide. In my dic- 
tionary, after all, civil behavior 
“often suggests little more than 
the avoidance of overt rude- 
ness.” But, in toe end, “man- 
ners” are about treating others 
as if they matter. 

So, too, toe quest can end in 
pro forma politeness. But it can 
also usher in a profound con- 
versation about how we as a 
people treat and deal with each 
other. How do we recreate a 
community? One year and one 
vow at a time. 

The Boston Globe. 


among "opinion leaders,” and 
we are constantly told how di - ' 
vided and different we are. 
Sooner or later we may come to 1 
think and act that way. We may ' 
forget common values. 

Politics is inevitably about ' 
disagreements, and many of 
these matter deeply. But be- ' 
yond the conflicts lie larger ■ 
areas of agreement that define 
us as a nation and people. ' 
Among these are a tolerance of 
our differences. * 

As it happens, I met Mr. If-- 
shin and Mr. McCain on sep- 
arate occasions, each for about 1 
15 seconds. I cannot claim to 1 
understand precisely what mo- - 
tivated their reconciliation- But ' -■ 

I suspect that it was a common 
decency and an instinctive re- 1 
cognition of the importance of ' 
these larger areas of agreement 
If so, their message is worth ' 
pondering for 1997. 

Washington Post Writers Group. 


this toink-and-do tank, a project IN OUR PAGES : 100, 75 AND 50 YEARS AGO 

aimed at rebuilding the “so- ” : 

sense of community. PARIS —The Matin published ^grjfof S i 

Solo, was struck by how many of toe three great-grandsons of 

toe French 


callers responded as if it were a 
project to restore good man- 
ners. They had rushed past the 
first dictionary definition of 
“civil” (“of or relating to cit- 
izens, to the state of citizenry”) 
straight to toe second d efiniti on 
— “adequate in courtesy and 
politeness.”. 

Part of rebuilding a civil so- 
ciety, Ms. Solo agrees, "is get- 
ting people to talk to one an- 
other.” -Indeed. as a former 
peace activist she knows. “Vi- 
olence is wordlessness; it be- 
gins where human conversation 
breaks down.” 

. But the way we misbehave or 
ignore each other in our every- 
day lives is emblematic of a 
larger disconnection. “It has to 
do with a deeper sense of in- 
security,” says Ms. Solo. “A 


statesman Guizot 
who recently visited M. 
Scfalumberger, their grandfath- 
er, who is the president of the 
Landshauschutz. The order to 
leave the country came from 
Strasburg. These young men 
bave been expelled as an ex- 
ample co toe youth of the an- 
nexed provinces. The author- 
ities did not approve of the 
young men choosing to remain 
French subjects whoa the time 
came for them to sign the usual 
declaration of nationality. 

1922: Dalmatian Clash 

BELGRADE — * King Alexan- 
der has abandoned his hunting 
party at Laibach, and will de£ 
uitely remain in the capital for 
toe present. The cause of .his 


toe unfortunate incid en t at 
Sebenico. Meanwhile, the Gov- 
ernment before replying to the 
Italian ultimatum demanding 
an apology for the alleged 
unprovoked attacks upon Ital- - 
ian sailors at toe Dalmatian 
port is awaiting the report - 
of the special envoy holding 
an inquiry there. 

1947s Palestine Raids * 

JERUSALEM — Jewish ex-., 
tremists, believed to be mem-, 
hers of ftgua Zvai Leumi fed 
toe Stem Gang, launched con- * 
certed attacks on British centers 
tn Jerusalem. Tel Aviv and* - 
Haifa. Sixteen attacks in van- . 
ous parts of Palestine were re* ' 


messages reading: “With fire, 
and blood Judea has fallen; with I 
fire and blood Judea will rise.” 




f y\c^ 






INTERNATIONAL HERALD TRIBUNE, FRIDAY* JANUARY 3, 1997 

OPINION/LETTERS 


PAGE 7 


■■■ 

‘.: : s 

.. .*2$ 

• - , 111 b> 

■ : fiH *l" 

•- 


■^s 

.. . v ; v 


Turn That Noise Down, 
You Voluble Solipsists 


By George F. Will 



\1T ASHINGTON — Pursuant 

t ▼ to the Motion. Picture Pro- 
duction Code’s mandate that “no 
picture shall be produced which 
will lower the moral standards of 
those who see it,” the script 
of “Casablanca” (1942) was 
changed, the word “like” repla- 
cing “enjoy” in what was orig- 
inally this line for . Captain 
Renault (Claude Rains): “You 
enjoy war. I enjoy women.” 

America has liberated itself 
from not only such pettifoggery 
but also from what is now con- 
sidered the tyranny of taste. So. is 
everyone happy? 

Not exactly. There is a certain 
troubling lade of refinement in 
Dennis Rodman’s : America, a 
lack linked to three linked ideas: 
Distinguishing between liberty 
and license is incipient fascism; 
manners are servants of hypo- 
crisy; concern for appearances 
and respectability, is _a craven 
treason against seif-expression, 
hence not respectable. 

Q The eclipse of civility is a fact 
fraught with depressing signifi- 
cance, as explained in the autumn 
Wilson Quarterly, in essays by 
Richard Bushman, a Columbia 
University historian, and James 
Morris of the Woodrow Wilson 
International Center for Scholars. 
The gravamen of tfaeir arguments 
is: A coarse and slatternly society 
— boom boxes borne through 
crowded streets by young moot 
wearing pornographic T-shirts 
and baseball caps backwards; 
young women using, in what 
formerly was called potite society, 
language that formerly caused 
stevedores to blush — jeopardizes 
all respect, including self-respect. 

Mr. Bushman says die young 
American nation had to over- 
come the fear that gentility, the 
product of an elite culture, put 
common people at a disadvan- 
tage, hence compromised demo- 
fcrracy. But as American lives be- 
' ‘^came less and less governed by 
austere material conditions and 
austere religious codes, rules of 
gentility supplied governance for 
human nature’s unruly impulses. 

Mr. Bushman defines gentility 
as “a compulsion to make the 
world beautiful,” beginning with 
the individual and extending to 
the home — a mano on a carpet in 
the parlor; polished walnut fur- 
niture; ceramic dmnerware — 
and to parks and museums to el- 


evate the public’s taste. Gentility 
stimulated a market Tor many of 
capitalism’s goods, and capital- 
ism democratized gentility by 
maltin g thos e goods affordable. 

As urban density raiw to a 
formerly frontier society, Mr. 
Bushman writes, “the premium 
on simply getting along m public 
grew.” There were imifjnfmqrj 
ushers in theaters, sometimes dis - 
tributing printed rules of decorum, 
such as not talking during the per- 
formance. Behavior was better 
when cinemas were opulent. Bring 
back the printed rules for the boors 
whose minimalist manners are 
suited to today’s “multiplexes.” 

Time was, writes Mr. Morris, 
Americans understood dint rules 
of civility do not just smooth sur- 
faces, they “inscribed the souL” 

Today America is a nation of 
“voluble solipsists,” chatting 
away cm cellular phones in pub- 
lic, unconcerned for privacy or 
dignity. Or safety. A bumper 
sticker: “Hang up and drive.” 
Mr. Morris warns: 

“In this age of ‘whatever,’ 
Americans are becoming slaves 
to the new tyranny of nonchal- 
ance. ‘Whatever.’ The word 
draws you in like a plumped pil- 
low and folds round your brain: 
tire progress of its syllables is a 
movement toward ... a universal 
shrug. It’s all capitulation. No 
one wants to make a j udgment, to 
impose a standard, to act from 
authority and call conduct un- 
acceptable.” 

In the imperturbable cool of 
the 1990s, writes Mr. Morris, 
“sights that not long ago would 
have left audiences open- 
mouthed with wonder leave mem 
droopy-eyed with boredom. To 
every age, perhaps, its proper sur- 
feit: In old Rome, worried im- 
presarios probably cut deals for 
more spears, more tigers, more 
Christians.” 

Today’s is not the “honest 
coarseness of frontier settlers re- 
moved from society and strug- 
gling with bears and die seasons. ” 
It occurs in a land where plenitude 
inflames the sense of entitlement 
to more of almost ever y t hin g, but 
less of manners and taste, with 
their irritating intimations of au- 
thority and hierarchy. 

Today. Dennis Rodman. What 
next? 

Whatever. 

Washington Post Writers Group. 


HERB WE 
iPA&AMU 



r a n> 




B» PVVC1IO a. I «- iPnl. Citt So«cwr. 


LETTERS TO THE EDITOR 


Unocal Responds 

Regarding ", Bad Business in 
Burma" ( Editorial , Dec. 17): 

The logic of the editorial, and 
its call for Unocal to withdraw 
from Burma, escapes me. If his- 
tory has shown os anything, it is 
that economic isolation only 
causes chaos, suffering and hard- 
ship for the very people it is in- 
tended to help. It does nothing to 
improve living standards, pro- 
mote democracy or advance hu- 
man rights. 

But the Yadana natural gas 
pipeline project between Burma 
• and Thailand is doing just that It 
is creating jobs, new industries 
and new opportunities for the 
35,000 people who live in the 
pipeline area — an extremely 
poor and undeveloped region of 
Burma. Unocal and its project 
partners are providing improved 
medical care, new and refurbished 
schools, electrical power and ag- 
ricultural development programs. 

The Yadana project — a joint 
venture of Unocal, Total of France. 
Thailand’s PTT and Burma’s 
MOGE — has adhered to strict 
standards covering employment 
practices. Contrary to some re- 
ports, there has been no forced or 
conscripted labor on our project. 
The New York Tunes editorial im- 
plies that a railroad has been built 
by conscripted labor to “transport 
government troops to protect the 
pipeline.” But there is absolutely 
no connection between tins rail- 
road and construction of the 
Yadana pipeline. The railroad 
right-of-way runs perpendicular to 
the pipeline, and the railroad itself 
will not be completed until long 


after the pipeline is up and running. 

Unocal’s withdrawal from the 
Yadana project would serve only 
to reduce UJ>. influence in Burma. 
It would also further marginalize 
U.S. influence with the Associ- 
ation of South East Asian Nations 
and Asian nations that have com- 
mercial and diplomatic contacts 
with Burma. Our departure would 
certainly not foster democracy or 
improve human rights. 

The best way for America to 
advance Burma’s transition to 
democracy is to remain engaged 
and involved in the nation’s eco- 
nomic development 

ROGER C. BEACH. 

El Segundo, California. 

The writer is chairman of the 
board and chief executive officer 
of Unocal Corp. 

Diplomatic Territory 

Regarding “ Negotiations Yield 
No Solution in Peru" (Dec. 20): 

The article about the hostage 
crisis in Lima states that the am- 
bassadorial residence is “legally 
Japanese territory.” 

While diplomats, their mis- 
sions and private residences are 
usually treated as if they are not 
within the territory of the receiv- 
ing state, the legal fiction that 
diplomatic grounds are foreign 
territory is now rejected. Inter- 
national law merely recognizes 
the inviolability, not the extra- 
territoriality, of the diplomatic 
premises. The 1961 Vienna Con- 
vention on Diplomatic Relations 
confirms tins and provides that 
the diplomatic mission and res- 
idence may not be entered by 


agents of die receiving state with- 
out the consent of the head of the 
mission. 

BRADFORD TREBACR 
New York. 

Shocking Political News 

Regarding “ A Winding Trail of 
Green Leads to the White House ” 
(Opinion, Dec. 20) by William 
Scfire: 

So politics in the United Stales 
are about raising money in ways 
that skirt the edge of legality (and 
sometimes fall over that edge). 

Gosh. I never knew that. I guess 
this really must be a new tiring. 
And, of course, conservatives and 
Republicans don’t do iL Ulysses 
S. Grant, Warren Harding and 
Richard Nixon, among others, 
must be tunring in their graves. 

PHILIP G. CERNY. 

Leeds. England. 

Pacifist No More 

Regarding “ AMcTheory Aboui 
War-Making" (Opinion, Dec. 9) 
by Thomas L. Friedman: 

I used to consider myself a 
pacifist, but after reading Mr. 
Friedman’s McTheory that no 
two countries possessing McDon- 
ald’s restaurants would ever go to 
war against each other. I can’t 
help wishing that such countries 
would declare war against each 
other — and target their missiles 
exclusively on each other’s 
McDonald’s. 

That way there would be one 
less, instead of one more. Mc- 
Donald’s every three hours. 

WOLFGANG ZUCKERMANN. 

Avignon. France. 


New York Has Rewound 
To a Better , Safer Time 

By Richard Cohen 


N EW YORK — The car was 
parked on East 84th, near the 
intersection with Park Avenue, 
and in the window was a sign that 
said “No Radio.” At one time, 
such signs were common here — 
“No Radio,” “No Nothing.” 
“Everything Stolen” — but it 

MEANWHILE 

had been a long time since I’d 
seen one. 

How could the car owner not 
have heard? A wonderful thing 
has happened to New York. It has 
rolled back the years. In terms of 
murder, it’s 1968, but it feels like 
the 1950s. when crime was an 
inconvenience, like the weather, 
and not a mortal threat that cir- 
cumscribed your life. New York 
was never all that safe — this is 
Gotham City, after all — but 
rarely has it been as. dangerous as 
it recently was. 

The change has been dramatic, 
virtually miraculous and — to be 
perfectly honest — a bit inex- 
plicable. The mayor. Rudolph Gi- 
uliani . is a former prosecutor who 
just hates the bad guys. He ap- 
pointed a police commissioner, 
William Bratton, who started to 
make “quality of life” arrests. No 
drinking on the streets — that sort 
of thing. Earlier, as the chief of the 
transit police, Mr. Bratton had 
arrested fare jumpers and learned 
something amazing: A large 
number of them were armed. Ar- 
rest them for jumping a subway 
turnstile and you get them before 
they commit an armed robbery. 

Mr. Bratton is the police com- 
mish no more, but the cops still 
practice what he preached, and 
crime remains amazingly low. 
Lots of people, especially the po- 
lice, credit the police — and 
maybe they are right. Others 
point to dumb luck, trends in drug 
trafficking (fewer turf wars) and 
demographics — a dip in the 
number of young men. 

Young men commit most of 
the crime, and much of their 
crime is violent The numbers of 
young men will soon be starting 
on the way up, and in the view of 
some criminologists we ain’t see 
nothing yet. These kids are heart- 
less beasts — gun-toting and re- 
morseless. John J. Dilulio Jr. of 
Princeton’s Center for Public 
Management has given them a 
name: “Superpredalors.” 


Still, demographics can’t ex- 
plain everything. Crime is down 
almost uniformly and even Wash- 
ington, in a virtually inexplicable 
improvement, experienced a dip 
in its murder total in 1995 — and 
then, because it is traditional, the 
number of murders resumed its 
march upward. But the New York 
figures are so startling — the 
number of murders dropped by 
half over the past five years — 
that something other than demo- 
graphics must be at work. 

Until we are told otherwise, we 
can only conclude that the cops 
made a difference. In some re- 
spects, this runs counter to the 
conventional wisdom — the be- 
lief that cops could be pretty good 
at catching criminals but were 
powerless to stop crime before it 
happened. This was the con- 
sensus in many scholarly journals 
and, as usual, there were studies 
to back up the thesis: Cops really 
don’t matter all that much. 

Now it seems otherwise. Bust 
someone for jumping a turnstile 
or drinking in die street and, most 
important, take his gun away and 
you're likely to get him before he 
commits a more serious crime. 
Do that often enough and crim- 
inals stop carrying guns. 

But in addition to sending a 
message to criminals, such tactics 
send a message to ordinary cit- 
izens as well. Once again, they 
feel that the rules of society apply 
to all of us — that you can't spit 
on tire street, put your feet up on 
the subway seats, play your radio 
too loud, get drunk in public or, 
even, make a nuisance of yourself 
by lunging into traffic to * ‘clean ” 
the windshields of cars. 

For a frequent visitor, the 
change in New York is not lim- 
ited Just to statistics. You can 
sense it on the street — those 
vanished “No Radio” signs, for 
instance, and the absence of car 
alarms going off in the night. 
People are no longer admonished 
not to walk here or go there. And 
Central Park, where that poor jog- 
ger was gang-raped and nearly 
bludgeoned to death in 1989, 
went the entire year without a 
single homicide. The city has 
made the most wonderful sort 
of progress — backward to a 
better time. 

Where have you gone, Joe 
DiMaggio? 

The Washington Post. 


BOOKS 


. , :.s 


FERMAPS LAST THEOREM 

Unlocking the Secret of an 
Ancient Mathematical Problem 

By Amir D. Aczel. Illustrated. 147 pages. 
$18. Four Walls Eight Windows. 
Reviewed by Richard Bernstein 

H ERE’S a scene that almost sorely 
took place in Paris more than half a 
century ago: At a Left Bank cafe sear the 
Sorbonne, Ernest Hemingway sits at a 
table trying to write, but he is bothered 
by the noise of a group of mathem- 
aticians arguing heatedly over matters 
that Hemingway, and most of the rest of 
us, cannot: understand. 

Hemingway leaves to go to some less 
favorite haunt. The mathematicians stay, 
and, titoogh not celebrated for their pres- 
ence in Left. Bank cafes, they are par- 
ticipating in a grand cultural history even 
older than Hemingway’s. 

The scene, plausibly imagined in 
Amir D.- Aczel s “Fermat’s Last The- 
orem,” reminds us that the world has 
many worlds, with die priestly cult of 
mnthwriatirians, so mystifying and in- 
accessible to most people, among the 
more esoterically interesting of them. 

Those marttfmaiiriam in Paris are 
among the many groups identified and 
described by Aczel as he traces the vari- 
ous stages, of fhnug ltf devoted to solving 
the mathematical puzzle known as Fer- 
mat’s Last Theorem. This was named far 
a 17th-century French jurist and amateur 
\ mathematician, Pierre de Fermat, and 
solved, to great fanfare, by Andrew Wiles 
of Princeton Umverahy a couple of years 
ago. - 

Actually, Aczel, who teaches statist- 
ics at Bentley College in Waltham, 
Massachusetts, has written a tale of bur- 
ied treasure, die treasure here being im- 
material. intellectual . . of .no practical 
benefit, but rooted in the pleasure of pure 

knowledge. 

Abort 1637,Fermat wrote his famous 
theo rem in themargtns of a Latin trans- 
lation of a book by die third-century 
Greek mathematician .known as Dio- 
phantus. Bat, as Aczel shows, the origins 
of the problem of concern to Fermat 
trace back to die ancient Babylonians, 


which is what gives his account of its 
solution its historic sweep. 

His book is modestly but lucidly 
presented, most (though not afl) of the 
technical material understandable to 
people with only a smattering of math- 
ematical skill. This is a captivating 
volume even when it cranes to those few 
passages that you might not entirely un- 


“What is interesting about Fermat’s 
Last Theorem,” Aczel writes, “is that it 
spans ynathf»maii ral history from die 
dawn of civilization to our own time. 
And die theorem’s ultimate solution also 
spans the breadth of mathematics.” - 
. Fermat was one of file mathematical 
geniuses whose brief biographies are 
scattered throughout Aczel’s book, a fig- 
ure who had developed the main ideas of 
calculus 13 years before the birth of 
Isaac Newton, who, along with Leibniz, 
is usually credited with that achieve- 
ment 

“Fermat was smitten by the charm of 
numbers,” die author writes, “hi them 
be found beauty and meaning.” He 
loved to think up what he called “ex- 
ceedingly beautiful theorems.” 

In 1637, while pernsing Diopbantus, 
whose historic importance is outlined by 
Aczel, Fermat apparently had one ’of 
those flashes of deep insight that have 
produced historic leaps in the field of 
pore math. 

- Everybody knew that h is possible to 
break down a squared number into two 
squared components, as in 5 squared 
equals 3 squared plus 4 squared (or, 25 = 
9 + 16). 

What Fermat saw was that it was. 
impossible to do that with any number 
raised to a greater power than 2. Put 
differently, die formula x to the nth 
power + y to the nth power = z to the nth 
power has no whole number solution 
when n is greater than 2. 

Fermat then wrote the phrase tiiar has 
tantalized mathematicians ever since: “I 
have discovered a truly marvelous proof 
of this, which, however, the margin is 
not large enough to contain.” The buried 
treasure, sought all these centuries, is the 
proof that Fermat said he had discovered 
but had no room to set down. In fact. 


BRIDGE 


when Wiles finally did prove that the 
theorem is true, be used techniques that 
could not have been known to Fermat, so 
whether the thinker of the 17th century 
really did have a solution to his problem 
cannot be known. 

In any case, before describing Wiles's 
solution. Aczel plunges into history, 
starting with the Babylonians, who 
needed a formula for die distribution of 
land. Aczel moves on to Pythagoras, the 
secret number worshiper of the sixth 
century B.C., whose famous formula 
abort the hypotenuse is directly related 1 
to the problem of squares. 

He moves on to Archimedes, to Di- 
ophantns himself and then to mathem- 
aticians of later centuries like Carl 
Friedrich Gauss, Richard Dedekind and 
others, digressing interestingly here and 
there but usually keeping his eye on the 
main theme: Fermat’s last theorem as an 
example of the world of enigma and 
beauty made up by numbers. 

As Aczel gets into modem tunes, be 
describes some intrigue and double- 
dealing in the international world of 
mathematical speculation. Some of this 
involves the more difficult material the 
author presents. 

O NE wishes, for example, that he had 
devoted a few more lines of ex- 
planation to die significant issue of mod- 
ales and elliptical curves, which were 
crucial to Wiles’s solution. It is not 
enough simply to say that “modular 
forms are more specific elements over 
the complex plane than are the auto- 
m orphic functions of Taniyama,” and 
then move on. 

Still, tiie brilliant back-door method 
used by Wiles as be reached his solu- 
tion, along with the debt he owed to 
many other contemporary mathem- 
aticians. is graspable in Aczel's lucid 
prose. 

Equally important is the sense of awe 
that Aczel imparts for the hidden, mys- 
tical harmonies of numbers, and for that 
sense of awe alone, his slender volume is 
well worth the effort. 

Richard Bernstein is on the staff of 
The New York Jones. 


By Alan Tniscott 

T HE diagramed deal was 
played m June when the 
Tavistock Country Club, in 
Haddonfield, New Jersey, 
celebrated its 75th an- 
niversary. Dr. Gerry Keenan 
as South picked up a remaric- 
able freakish hand and gyrated 
two hearts, using traditional 
strong two-bids. 


The discovery that his part- Luckily 1 
a’couldrewowlpositivdyin picked the 


ner could reload positively in 
clubs was oot of gram moment, 
and South deckled 10 settle in 
six hearts. This gave up the 
chance of reaching an easy 


grand if North held the 
diamo nd ace, but ibar card 
would not have been easy to 
Tnram. West doubled, a poor 
action, since it was wildly un- 
likely that both his aces would 

score. If they did. he would do 
well without doubling. 

As it happened, six .hearts 
was m jeopardy, and six diar 
moods was safer. But few 
South players would consider 
nlavine the minor-suit slam. 


for South, West 
picked the wrong ace as his 
..opening lead. He chose the 
made ace, and South was 
happy to niff and draw 
trumps. 


When a low diamond was 
led, West could have snatched 
his ace, but he was still hoping 
to defeat the contract When 
be played low. South won with 
the jack, threw aO his remain- 
ing diamonds on the dub win- 
ners and claimed his doubled 
slam with an overtrick. 

If West bad selected the 
diamond ace as his opening 
lead, he might well have con- 
tinued with another diamo nd . 
and given his partner the de- 
cisive ruff. A second diamond 

is not totally obvious, but it is 
the right play and it would 
have vindicated the dubious 
double. 


NORTH 
*8411 
V — 

0 3782 
♦ AffQJS 

WEST (D) BAST 

♦ AQS +K7KB7B 

08642 98 

0AI4 *11 

4885 *198742 

S OUTH 
4 — 

OAXQJ107S2 
7 K Q 853 

4- 

Kmt and Wot wen ratenfcte THe 

Vast North Bant Sooth 

Pan Pass Pass SO 

Pan 24 Pan 89 

ObL Pass Pan Pan 

Wot* fed fee speak.**. 












- By maintaining a far-flung network of news-gathering resources, the World’s Daily 
s Newspaper brings you unrivalled coverage of world politics, business and economics, 
as well as science, technology, travel, fashion, the arts and sport — all from an 
» international perspective. 

* Take advantage of this limited opportunity to try the International Herald Tribune 
with a low cost, 2-month trial subscription and enjoy delivery to your home or office 
every morning. 


CCXWTW/CURKENCY 


2 MONTHS 
NEWSIAM3 
PUCE 


, GREAT BRITAN 


LUXEMBOURG 

NETHB2LANDS 


| SWH3EN 

| SWITTBILAhp" 
'BSEWHE8E 


For information emtgroinn ha 
Gwmmytt 0!3fr84W ©or 


2 MONTHS DISCOUNT 
DFFQt OFF 

RICE COVBl PRICE 


1,350 60% 

360 SM 

310 SOX, 


72 60* 

5 isr 

9,iao sm 

26 sot 

58,000 60% 

1,350 60% 


5,000 58% 

W00 57% 

350 isi 

66 60% 

to — 

Gtrmar atim oafi tofi tree IHT I 


3 - 1-97 

fe, J Vroold ISfco to Start reaarwng international HaiAd Tribona 

□ My check a endoiad (payable to rfie IHT) 

□ Please cHcrge my: 

0 Amnx □ Diners Chib O VISA 0 Acceu □ MasterCard 0 Eurocard 
Crecfil axd charges wiB be mode in French Frtnci ert cutt*»t 1 redes. 

Card Nrv F»p Date: 

SigwAiwr — - - 

For buwnesi orders, indin*- ymir VAT Kkr 

|HT VAT Nunfcv FR 74732021 1 26 ) 

Mr/Mrs/MtftmdyNomg 

Knt Nuk lob 

Mailing Address: 

Gty/Code: 

CtmrnoY 

Home lei No - Ihwinw.. Tel Mv 

E-Mail Addrnii 

1 gallhkGOpy olthalHTtf □ load □ hotel □ cAfme □ odw 

0 I do not wish to ream infatmahon ham other careMy saaened aampanias 
Mol or fa* to: isterrtotiofwf Heraid Trbuna 
181, ever** Charles de Gauhs, 92521 NouSy Codex, franca 
Fnc +33 141 43 92 10 
OR CALL +33 1 41 43 93 61 

In Asia: +852 29 32 1 1 88. In the US {MMresJ: 1 4004*2-28*6. 
E-Mail Nos w i ijWif.wn i 

Offer v^id far new subscriber* only HA 2 M 



73 

19 

24 


1 

U 

17 

20 

26 

34 

45 

44 

m 

71 

77 

82 

94 

16. 

21 : 

24: 


2 

3 

4 

5 

6 

7 

8 
10 
12 
13 

15 

16 
18 
21 
22 

24 

25 

27 

28 

29 

30 

31 

32 

33 

35 

36 

37 

38 
40 

42 

43 

44 

48 

49 

50 

52 

54 

55 

56 

57 

58 

59 
40 
61 
62 

53 
64 
68 
72 

74 

75 

76 
79 


T1 


A sc 


Ex 

Th 


Mo 

Jai 


Tut 

Jai 


We 

Jar 


Thi 

Jar 


Fric 

Jar 




— . c o I-' o MIUENMUM 


Hurry, Hurry, Hurry! Sign Up Now for Millennium Parties 


By W illiam Grimes 

New York Times Service 



EW YORK — It’s a matter of record 
that humans cannot resist the primal 
urge to celebrate wildly when an- 
other year goes down the tubes. 
When it's a year, a century and a millennium all 
at once, mass madness takes hold, a frantic 
desire to greet the new dawn from an unusual 
vantage point. 

It's not enough to have a party. It must be atop 
a tower or a mo untain, in a triple-swanky hotel or 
restaurant at a location throbbing with mystic 
vibes, or simply some place impossibly, mil- 
lennially. remote. 

There are a few shortsighted travelers left who 
do not know what they are doing on New Year's 
Eve in 1999. David Banford is not one of them. 
When the odometer of our spinning orb ticks 
over for the year 2000, Banford, a British in- 
vestor in small businesses, will be floating off 
Barbados aboard the Queen Elizabeth 2, with 99 
other members of his special club. 

He wiU toast the New Year and the new 
millennium with champagne that has been await- 
ing the grand occasion since 1 982. the year that 
he and a group of old school biends put down a 
$10,000 deposit to reserve 50 double cabins and 
lay down some serious Bordeaux, ports and 
Champagnes. 

Banford may be unusually organized, but he is 
not eccentric, as cruise lines, top-flight hotels and 
tour packagers all over the world can attest 
‘'We've been receiving letters for at least 10 
years,” said Pam Carter, a press officer for the 
Savoy Hotel in London. The hotel, which has 
taken enough names to fill the hotel twice over, 
will draw names bom a hat. probably in 1998, to 
assign rooms. 


The Millennium Society, a nonprofit organi- 
zation in Washington, has been holding warm-up 
New Year's Eve parties since 1984. It will sponsor 
Countdown 2000 celebrations at notable spots in 
each of the world's 24 time zones, including the 
Great Pyramid of Cheops and the Golden Gate 
Bridge. 

If you’ve been dreaming idly of New Year's 
Eve at the Pyramids, start fantasizing about Plan 
B. Abercrombie & Kent, the adventure travel 
company, has already sold out its Egypt-Nile 
package, which includes a New Year’s Eve party 
at the Pyramids. Their India-Nepal tour, with New 
Year's at the Taj Mahal, has also sold out. Ditto 
Kenya-Tanzania, with New Year's Eve among the 
beasts at the Ngorongoro Crater. 

In the geographical tussle, Greenwich, Eng- 
land, holds a distinct edge, as the home of the 
Prime Meridian, which passes through the center 
of the transit instrument at the Ola Royal Ob- 
servatory. An organization called Millennium 
Central has submitted plans to die Greenwich 
Council for an exposition center on the site of a 
derelict gasworks. 

Room for Lots or Buses 

It’s a big exposition center. The proposed 
Millennium Dome, big enough to hold 1 3 Albert 
Halls or 3.300 London double-decker buses, 
would present a yearlong exhibition organized 
on the theme of 12 of the world's time zones. 

Mean quietly, the National Maritime Museum 
in Greenwich has organized “The Story of 
Time,” an exhibition scheduled to open in 
November 1999 and run until about September 
2000. Using paintings, documents and artifacts 
from around the world, it will show the ways that 
time has been measured. 

Among the artifacts are "bits of string with 


significant knots in them,” said Kristen Lip- 
pincott, the director of the museum's millennium 
project, explaining that the knot method was 
once used by Polynesians to measure tune. “I 
think theirs is different in tone,” she said, re- 
ferring to the Millennium Deane exhibition. 
“It’s more razzmatazz and hands-on, whereas 
oizrs is intellectual and object-oriented.” 

Norris McWhirter, the chairman of Millen- 
nium Adventure Co., has locked up the rights to 
the highest Mil on Pitt Island, New Zealand, 
which he has described as “the first terrestrial, 
accessible and populated place to usher in the 
next 1,000 years.” 

Travelers willing to dispense with “access- 
ible” and “populated” have signed up for 
Mountain Travel-Sobek's trip to Antarctica, 
where the year 2000 dawns first. 

In Scandinavia, event organizers and city of- 
ficials are betting that tourists will settle for New 
Year's north of the Arctic Circle. 

Step forward. North Cape (Nfardkapp), a 
rocky promontory in Norway with only one 
thing going for it: it is the northernmost point in 
Europe. 

In millennial terms, that spells money. Fa- 
cilities have been arranged for 1,200 visitors to 
attend a New Year's conceit at North Cape Rock, 
where a large cave will serve as the mam stage. 
“There's also a chapel built into the mountain, in 
case anyone wants to get married that night, and 
we're building a bridal suite at the cape itself,” 
said Geir Kolsfrom, die chief organizer of the 
event. “The sun won’t rise until Jan. 21. so that 
might be a wedding night for the record 
books.” 

Some revelers prefer fire to ice. An uniden- 
tified man from San Francisco has booked most 
of the 42 rooms in Volcano House, a small hotel 
about 10 feet from the edge of die Kilauea 


caldera in Hawaii Volcanoes National Park. If 
you can't sit atop a television tower, it seems, the 
only alternative is to scale a mountain or roam to 
the ends of the earth. MountainTravel-Sobek has 
nearly sold out its New Year’s treks to the 


lay 


Sydney pumped up New Year’s 1996 as a 
to advertise the city s role as host of the 
Olympic S umm er Games. A fireworks di 
that amounts to a near bombardment of Sy 
Harbo has increased firepower each year. “We 
want to show off the best face of Sydney as the 
first major world city to cross the da te li n e,” its 
mayor, Frank Sartor, proclaimed recently. 

hoomamay bash Edinburgh did not invent 
civilization, but in a daring conceptual leap, it is 
demarcating its slice of the millennial pie by 
reminding the world that Scotland, so to speak, 
owns New Year’s. 

“Auld Lang Syne,” please recalL is a Scottish 
song. For the past three years, the city has 
sponsored a huge bash called Hogmanay, as New 
Year’s is known in Scotland. Hogmanay is now 
one of the largest outdoor events in Europe. It 
drew 350,000 visitors last year with a varied 
program of concerts and sporting events, most of 
them free, overlive days, with a torchlight parade 
through the city to top off the festivities. About 
400,000 people are expected this year. For the 
millennium, who knows? 

The Japanese, who did not adopt the Western 
calendar until 125 years ago, do not even have a 
ward for the millennium. Nevertheless, in May 
the Nippon Travel Agency , one of the country's 
largest, announced a 28-day Pacific cruise from 
Yokohama to Hawaii that will cross the in- 
ternational dateline at midnight, Dec. 31, af- 
fording travelers “the earliest dawn of the year 
2000 on the globe.” 


About 430 passengers have signed up For the 
cruise at a top price of $49,000. 

The city of Paris has adopted a policy of 
nonrecognition toward the event Perhaps the 
third miilftwnium will engage its attention. Blast, 
of course, is a French word. 

In America, by contrast, some go-aheaa hotels 
and restaurants have seized the initiative. In 
Long Beach, California, the Queen Mary has 
planned a large celebration devoted to the theme 
of travel through time. Each salon on the ship 
will be decorated to evoke a distinct period in the 
20th century, with music to match. The Grand 
Salon will be devoted to the future. The cost for 
a room, two tickets to die party and dinner is, of 
course, $1,999.99. 

For New Orleans, the millennium can t come 
soon enough. At Antoine's, the Japanese Room 
has been booked since 1985, and a table for 12 is 
being held for Melvin Belli, the trial lawyer, who 
will probably not be attending, since he died in 
July. “His friends are coming and there will be 
one empty chair for him,” said Kennit Cosse, 
the restaurant's associate general manager. 




S’" 


T 


I HOSE who haven't booked for Dec. 31, 
1999, can take heart, and indulge in some 
malicious glee, in the waning hours of die 
centmy. 

As the party horns begin to blow, and fee^, 
champagne corks pop from Patagonia to the 
Gobi Desert, the nonplanners can saves- a secret 
thought: It’s not the millennium, fools. Re- 
searchers at the Royal Greenwich Observatory, 
responding to hundreds of inquiries on the mat- 
ter, issued a statement earlier this month ex- 
plaining that because there is no year zcto in the 
Gregorian calendar, flue ntiUmniran yUl actually 
begin when midnig ht strikes on Dec. 31 of fee 
year 2000. Sorry, Mr. Banford. 


As Holy Year Nears, Italians Brace for Hordes of Tourists 


By John Tagliabue 

Ne*' York Tunes Service 



OME — The Lombard in- 
vasion of northern Italy in the 
sixth century caused die in- 
k habitants of towns around 
northern Adriatic cities to take refuge in 
die lagoons where Venice’s graceful 
palazzi now stand and its quiet canals 
flow. So it is probably not surprising 
that a people so shy of hordes is upset by 
tbe prospect that the year 2000, the Holy 
Year the Pope has declared to celebrate 
die second millennium, may confront 
them with new waves of invaders. 

The fear of many in Venice, and in 
such other Italian tourist centers as 
Florence, is that die overflow from tbe 
millions of pilgrims drawn to Rome for 
Holy Year will swamp them with the 
touristic equivalent of the high waters 
that have engulfed Venice dining most 
winters of late. 

Catholics usually gain special indul- 
gences by visiting Rome during a Holy 
Year and performing certain devotions, 
such as visiting St Peter's Basilica or 
other main basilicas such as St Mazy 
Major, Sl John Lateran or St. Paul Out- 
side the Walls. The Pope inaugurates this 
Holy Year with a solemn Mass, often 
celebrated on Christmas Eve of the pre- 
ceding year (in this case 1999). He will 
also open the holy door of Sl Peter's 
Basilica, which has remained bricked up 
since the last Holy Year in 1975, and 
close it again at the end of the yean the 
dates for those ceremonies have not yet 
been set Other rites, usually including 
special papal audiences, beatifications 
and canonizations, are also celebrated, 
but no schedule of events has been is- 
sued 

What concerns Venetians in partic- 
ular about Holy Year is that in recent 
years religious tourism to Rome has 
already been swollen by millions of 
Roman Catholics from lands tike Po- 
land and Croatia who were once locked 
behind tbe lion Curtain, but are now 
free io travel. A glance at a map of Italy 
shows that Venice is the first major 


Italian city these pilgrims encounter as 
they wend their way south to Rome, 
cramped in narrow tour buses. So earli- 
er this month. Venice’s Mayor, 
Massimo Cacciari announced that for 
the year 2000 the city was considering 
requiring reservations for tour groups. 
* Tf the floods are not channeled' * said 
Cacciari, using metaphors ap pro pri ate 
to his city, “we all risk capsizing.” 

Thus far Venice appeared to be 
copying steps taken last summer by 
Florence to limit to 150 the number of 
buses allowed in its historic center at 
any one time. But Cacciari went fur- 
ther In tbe year 2000, he said it might 
even be necessary to require individual 
tourists to make reservations or risk 
being denied entry to Venice. 

# mo vacancy r To be sure, the may- 
or’s proposal is far from set in concrete. 
And already there is an outcry of op- 
position. Venetian newspapers jok- 
ingly imagined the city hanging a “No 
Vacancy” sign on the causeway that 
links it with the mainland. 

The differences underscore the nar- 
row path Italian officials tread in trying 
to balance hospitality for the millions of 
extra visitors that are expected and the 
obvious inability of ancient cities like 
Venice, Rome and Florence to accom- 
modate them. In a sense, the worry for 
Mayor Cacciari and other officials is 
not a new one. With growing affluence 
and mobility throughout Europe, these 
cities have long been confronted with 
mounting numbers of low-budget tour- 
ists — backpacking students, but also 
Eastern European visitors on shoe- 
string finances who clog the city but 
spend little in its restaurants, museums 
and high-priced shopping streets. 

Thus, the problem is not one con- 
fronting the luxury hotels — the Danieli 
and Gntti Palace in Venice or the Ex- 
celsior and Hassler in Rome — that 
report slight early demand for New 
Year’s Eve 2000, but otherwise few or 
no early reservations for the year. In- 
stead, it is a problem for city officials 
who must find ways to control the num- 


bers of visitors if their cities are to sur- 
vive the smothering embrace of modem 
mass tourism. 

In Venice, officials have occasion- 
ally limited access to vehicles on the 
causeway that links the city to the 
mainland and, in an effart to relieve 
congestion in narrow lanes, introduced 
one-way pedestrian traffic. 

In Florence, a fee is now charged for 
visits to fee octagonal Baptistry in front 
of the Duomo, and tuwstHes enable 
church officials to control the flow of 
visitors to the glorious domed cathedral 
itself. The city’s strategy has also in- 
cluded opening some museums at night, 
staging crowd-pleasing outdoor activ- 
ities in die slower winter months said 
encouraging Florentines to open their 
apartments to bed-and-breakfast visit- 
ors. 

In Venice, the mayor says he is con- 
sidering a kind of tourist centex that 
would gather requests for bookings in 
Venice from around the world ana be 
able to apportion available space. Cac- 
ciari based his proposal on a report 
presented in die early 1990s by re- 
searchers at the University of Venice 
that said the city could absorb about 
22,000 visitors daily without risk of 
overtaxing transport and restaurants. 
However, at peak times like Carnival 
and the heavily trafficked weeks of 
spring, as many as 100,000 visitors a 
day have descended on Venice. 




EFORE reaching a final de- 
; cision, the mayor has commis- 
sioned a further study on the 
year 2000 by private researchers, and 
has proposed to other northeastern cit- 
ies, such as Trieste, that a system of 
ferries transport tourist buses from that 
port across the Adriatic Sea to Ancona. 
Ravenna and other destinations, skirt- 
ing Venice and its environs. 

In Rome itself, the approach of the 
Holy Year initially spurred grand pro- 
nouncements of public works to prepare 
the city for the onslaught. A third sub 1 
way line was to be dug to link the 
Vatican and the Coliseum, and the high- 


way starting the Castel Sant’ Angelo 
along the Tiber River was to go un- 
derground. The whole thing was to cost 
about $3.7 billion. But as so often in 
Rome, political infighting, a shortage of 
money and a failure to start pi ~ 
punctually pushed most of these 
projects under the table. 

Rjeliiotd Romans 

Many Romans were relieved. The 
city’s finances still suffer from the 
Tigacy of the World Cup soccer 
ials that were staged here in 1990, 
when hundreds of millions of dollars 
were spent on additional subway sta- 
tions mat have since been dosed for 
lack of passengers, and an airport rail 
terminal near fee Ostiense train station 
that remains unus<*-d- 
Now the intention is to concentrate 
on modest improvements: training 
guides and other tour operators, cre- 
ating hostels for those who cannot 
spend much for fee night and devel- 

ta^now looks mote like $1.4 biSorc 
Francesco Rutelli, Rome’s mayor, says 
tbe money will also go for thing s like 
new buses, restoration of some of tbe 
Tiber bridges and necessary road work. 
Additionally, tbe province ofRome will 
create accommodations for about 2,000 
people in campgrounds and hostels. 

A lingering problem, of course, is 
that nobody knows how many addi- 
tional visitors will actually be lured to 
Rome for the Holy Year. This month, 
Luigi Zanda, fee official in Rome re- 
sponsible for organizing fee Jubilee, 
rented official estimates predicting 
roughly 46 million visitors wiu 
come to Rome in 2000, about double 
fee number that came last year. But 
some are skepticaL 
“It’s clear there will be neither 40 
million, nor 30 milli on., nor 20 million 
pilgrims,” fee financial daily n Sole- 
24 Ore said recently. “Not even the 
prospect of gaining indulgences would 
prevail over feat of facing a voyage into 
such an inferno.” 



■ Sam Mew YvkTfaM 

Sf. Peter's Basilica, a magnet for tourists during Holy Year in 2000. 


OININO 


’V 


i 


V- 


\ \ 


X.: 




r T- - 

T : 


*;- v 

m t- 

•v- 

l 

& *- 




***** 



From, the Provinces to Paris, ‘Immediate’ and Enthusiastic Cuisine 


By Patricia Wells 

Inumatunal Herati Tribune 


P ARIS — From the very beginning, we 
should have known that Pierre Gag- 
naire would always be different. Dur- 
ing his rise to stardom in a happy, skylit 
restaurant in the dreary city of Saint Etienne, not 
far from Lyon, during fee early 1 980s, he always 
seemed like die classmate who had fee most fun 
as well as tire most trouble sitting still. 

After just a moment wife him yon’d find your 
mind reeling with ideas. He never even tried to 
contain his enthusiasms or energy and soon Ms 
menus and his plates were chockaMock wife 
sensory stimulation. It was a style of cooking he 
called “cuisine immediate,” and we swooned 
over his tempura of langoustines, delicately fried 

and served wife a cmnamOT-mfused bonre Wane 


and his astonishing, rich chocolate souffle, so 
creamy he called it a soup. 

Even then, before his newsmaking 1992 move 
-to a stunning Art Deco mansion in the same town 
and fee subsequent bestowal of the coveted triple 
Michetin crown, you did not go to Gagnaire’s to 
fuel your body, but to partake of a roller-coaster 
sort of culinary voyage. 

While Gagnaire stayed much fee same, fee 
world changed. Saint Etienne was too far to go for 
lunch or for dinner. Tbe days of wacky gas- 
tronomic pilgrimages were over. And Saint 
Etienne is not Lyon and not the sort of place to 



; Tunny Brie, a cream of Roquefort with aged 
port, supple vacberin and soft white raisins. Just 
give me a wedge of Camembert, fee locals seemed 
to be saying, Gagnaire got fee message and so did 
his tank, and last year he went into receivership. 


Feeling a bit like fee sacrificial lamb, Gag- 
naire packed up his staff and his talents, traveled 
north to Paris, and reopened in November, taking 
over the elegant, modern and bright steel-blue 
and silver restaurant in fee Hotel Balzac near fee 
Arc de Triwnpbe. Tbe talk lean, blond chef has 
not lost a gram of his energy or excitement and 
you still want to spray a dose of Valium on him to 
reduce his enthusiasm to a more human level. 
Nor has he toned down his cuisine, which is still 
filled with artistry, audacity and rich, classical 
flavors. 

offtoa good start Here, diners feast on not 
one, but four or five baby starters, wife single- 
bite portions of a simple tartare of tuna wife leeks 
and mushrooms or cubes of calf s foot bathed in 
a rich ravigote. His menu is vast and complex, 
mixing unexpected flavors, such as foie gras. 


dried figs and buckwheat gaieties or sole, quince 
juice and tarragon. 

The best dish sampled at a recent dinner 
included a first-course feast of raw, thinly sliced 
black truffles and baby artichokes bathed in a 
jerusalem-artichoke cream. Tbe marriage was 
perfect, with intense, deep, flinty flavors of fee 
winter earth, a triumphant trio of flavors that 
were miraculously echoed by sips of a 1994 
white Chatearmeuf-du-Pape from Hiatwin & 
BeaucasteL In a close place for second was a 
lasagne of black truffles and mozzarella, a dish 
feat played up the plainness of the pasta, the rich 
crea m in ess of the cheese and the do minant fhw mr 
and texture of tbe truffle. 

Less interesting was the braised Saint Pierre 
wife its skin crisp and fried, topped wife a thin, 

slice of Corsican ham, a dish feat was for fee more 

fuel than ecstasy. But it was saved by a soothing 


portion of polenta topped wife a warm and ffi- 
vitmg Brocciu ricooa cream. 

The dessert list is extensive, with souffles 
flavored wife chocolate, honey or tamarillo, as 
well as a procession of tiny desserts that ate 
downright explosive, including a trio of tropical 
fruit sorbets, baby farts batted in a pockety 
creme de cassis; and an dpple tart wife rich 
vanilla ice cream. 

The setting here is elegant, fee service stifl 
finding its rhythm, and Gagnaire is there to prove 
he’s a three-star chef who's here to my. 

Pierre Gagnaire, 6 Rue de Balzac, Paris 8; teU 
0] -44-35-18-25. Closed all day Saturday and 
Sunday lunch. All major credit cards. 450-jranc 
lunch, 490-franc dinner and 790 franc tasting 
menu. A la carte, 500 to 750 francs per person, 
including service but not wine. 


■y _• 




























j; i* 


■l#>Vv'< 

"w b 


C ; 




^ $ 
c 




urlie, 


nlirirt? 




, ,^ . « 



r ;.■***■ 

i 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


PACE 9 


movie guide 


V * 


One Fine Day 

Directed by Michael Hqff- 
.man. US. 

In “One Fine Day,” an ap- 
pealing, if overcooked ro- 
mance comedy, the harried 
single parents George 
Clooney and Michelle 
Pfeiffer meet other op 
the most stressful day of 
their lives. He’s a well- 
known tabloid newspaper 
.columnist in New York, 
she’s an architect. They 
both find themselves with 
too much to do — and no 
child care for thar day. 
Already annoyed with each 
other. They reluctantly ne- 
gotiate with each other to 
split the parenting. Mean- 
while, Pfeiffer’s son and 
Clooney’s daughter get up 
to their own mischief and 
work on setting up theirpar- 
ents — almost f *101 Dal- 
matians ’’-style. The bub- 
bly, screwball antagonism 
between the grownups 
amounts to a cute-a-thon, in 
which two household names 
attempt to better each other 
in the adorable scale. Un- 
fortunately, the kiss that will 
bring' them together, and 
satisfy the rabidly romantic 
audience, takes a minor 
eternity. Don’t be surprised 
to bear people yelling, 
“Kiss him already!” 

(Desson Howe, WP) 

Beavis and Butt- 
head Do America 

Directed by Mike Judge. 
US. 

“Beavis and Butt-head Do 
America,” the nastily a- 
musing feature film debut of 
those tittering, pig-snorting 
MTV cartoon groundlings, 
finds the duo coping with the 
worst of all posable fates; 
the theft of their precious 



'Trrnmi t iM— 


Mae Whitman, Clooney, Pfeiffer in “ One Fine Day ." 


television set Unable to 
soak in music videos from 
morning till night, and un- 
able to sleep without the 
drone of televisual to lull 
' them, America’s most libid- 
iotius conch potatoes leap at 
the first job opp or t un ity that 
presents itself. When a sin- 
ister thug named Muddy 
hires them to fly to Las Ve- 
gas and “do” his ex-wife, 
Dallas, for $10,000, they fid! 
to realize that, “doing” 
someone in Muddy’s vocab- 
ulary isn’t the same thing as 
doing someone in theirs. It 
won’t be long, these chron- 
ically dateless dodos gloat- 
ingly assure each other, until 
they are virgins no more. 
Beavis and Butt-head, who 
first mooned their way into 
American living rooms three 
years ago, might just be the 
ultimate symptoms of the 
decline of Western civiliza- 
tion. via tele virion. Then 
again, they just might not. 
What gives Beavis and Butt- 
bead some claim to univer- 
sality isn’t their smug stu- 
pidity as muc± as a hormonal 


desperation so acute that 
when they find themselves 
on a tour bos filled with 
nuns, Butt-head exclaims, 
“Hey, Beavis! We’re on a 
bus with chicks!” They dis- 
till the agony of adolescence, 
the queasy feeling of being 
trapped in a body going 
through monstrous changes, 
at the same time that they 
purge it of its terror. 

(Stephen Holden, NYT) 

A Leap of Faith 

Directed by Tricia Regan 
and Jenifer McShane. Ire- 
land. 

One of the hardest lessons to 
leant in a world where pub- 
licity-seeking politicians 
propose dramatic instant 
solutions for every conceiv- 
able problem is that positive 
change usually comes about 
slowly and requires a sus- 
tained commitment to a goal 
whose achievement is far 
firom guaranteed. “A Leap 
of Faith,” a soft-spoken 
documentary film about the 
establishment of the Cran- 
more Integrated Primary 


School in Belfast, offers an 
inspiring case study of 
people planting a small seed 
of hope in die bleakest of 
political climates. The film 
is narrated by Liam Neeson, 
who gives a concise, care- 
fully balanced history of the 
troubles in Northern Ire- 
land. The movie goes on to 
follow the creation of an ele- 
mentary school in which 
Roman Catholic and Prot- 
estant children are educated 
side by side. The sensible 
theory behind Cranmore is 
thar these children from dif- 
ferent religions " back- 
grounds won’t grow up see- 
ing each other as enemies, 
and so the cycle of suspicion 
and hatred perpetuated by a 
religiously segregated 
school system will be brok- 
en. Guided by Helen Far- 
rimond, Cranmore "s ideal - 
. istic principal, a group of 
volunteers, including par- 
ents, began refurbishing a 
rundown Victorian building 
three years ago. But to gain a 
state subsidy, the school had 
to recruit an equal number 
of Protestant and Catholic 
students. And the camera 
foQows the indefatigable 
principal around Belfast as 
she literally knocks on doors 
for the cause. In its first 
school year, Cranmore was 
able to enroll only 37 stu- 
. dents. Coincidentally, dur- 
ing its first four months of 
operation, sectarian vio- 
lence flared in Northern Ire- 
land, leaving 43 people 
killed As the worst of these 
terrorist acts are shown in 
news clips, one begins to 
sense the fragility of the 
little oasis that is Cranmore. 
One of the strengths of the 
film is its avoidance of a 
piously goody-goody tone. 

(Stephen Holden, NYT) 


6 Seamless ? Trip , Distant Promise 


By Roger ColIIs 

Inumaiianal Herald Tribune 


W HY can’t business travel 
be more like a package 
holiday? I don’t mean in 
the sense of being 
bundled raid herded as a gr o up on a 
preordained itinerary — although that 
may have its attractions. But having a 
courier to shepherd yon through every 
phase of die top, scanning the latest in- 
formation on flight delays and traffic 
conditions raid ready to alter the schedule 
if needed. This is the notion of “seam- 
less” travel the managed journey. AD 
yon should need to warry ftbdul is en- 
joying your holiday. Or getting on with 
your business. Business traveler want to 
manage their business, not manage their 
travel. 

The ultimate in seamless travel would 
be beaming in executives by satellite. 
Next best is your own corporate jet with 
liznos at either end and a gaggle of vice 
presidents to iron out problems along the 
way — the ease, flexibility and comfort 


! drive up to the steps of the plane; pass 
smoothly through customs and imooi- 
. gratian. Client cancels a meeting, palace 
revolution back home at die corporate 
Kremlin, inclement weather, divert -to 
. another airprat bo problem. You travel to 
your own schedule: you are in control 

Travel tends to be fairly smooth when 
you are movmg through the air or over the 
ground; most problems occur at times in 
between when you are waiting fw a travel 
segment -to start — waiting for a taxi 
checking m at the airport, waiting in the 
' lounge for disingenuous information on 
’ flig ht delay s, finding a gate OT JUSt fight-, 
ing the crowds — the interfaces between 
the journey’s stages, or the seams. 

SMOOTHING OUT THS HAMS it’s 

great to be wined and dined at 35,000 
feet. But what if die plane is three hours 
late ot diverted to another airport? Who 
is going to smooth out the seams? Al- 
leviate the. misery? What business trav- 
elers need is a “managed” journey — 
being looked after every step of foe way 
by an invisible hand, a “virtual” cour- 
ier. 

This is possible with, information tech- 
nology. The new Nokia 9000, for ex- 
ample, looks like a regular mobile phone 


but opens to reveal a personal computer 
that lets you send and receive E-mail and 
foxes, even surf the Intern et, it will Ira 
calls, lake messages, answer prearranged 
calls with voice messages or divert calls 
to other numbers. Linked with the latest 
smar t card technology, phones like Nokia 
can serve as your FDA (personal digital 
assistant), allowing you to conduct a 
galaxy of electronic transactions. This is 
foe means by which your virtual courier 
could keep you informed of the ever- 
changing realities of your schedule. 

The problem is fora airlines and other 
travel suppliers market only specific 
‘ navel segments or products. None, ex- 
cept far package'tour operatoni, are in- 
terested in accepting responsibility for 
the traveler throughout the whole jour- 
ney, which means that travelers are 
forced to manage their own journeys. 

Business travel agencies nowadays 
call themselves “travel management 
consultants. "“We’re in the business of 
managing information for clients.’ ’ says 

The Frequent Traveler 


Richard Lovell vice president Europe 
at Carlson Wagonlit TraveL But what 
travel agencies call travel management 
has to do with travel planning, nego- 
tiating deals with suppliers, manage- 
ment of travel budgets, corporate travel 
policies. A good travel agency can plan 
and book complex itineraries, they are 
expert at * ‘creative ticketing.” Bui their 
service usually ends as soon as the trip 
begins. OJC, you have a 24-hour hot- 
line; hot once you’re on the road, 
nobody is going to call you to say that 
-your flight from Mogadishu has been 
canceled and they’ve rescheduled you 
through Johannesburg with everyone 
along the way duly notified. Total jour- 
ney management is an unrequited busi- 
ness opportunity. Will someone not 
come forward to ease the ordeal of the 
long-suffering traveler? 

Airlines do, of course, smooth out 
many of the seams far high-yield pas- 
sengers, with limos to the airport from 
home or office, “fast-track” facilities at 
airports, executive lounges, both on de- 
parture and arrival, and telephone check- 
ms. VIPs and CIPs (commercially im- 
portant people) are met by “special ser- 
vices” reps, fed and watered and ego- 
massaged, raid shepherded through the 
formalities. Pay a whopping £6,446 for a 


Hotel Squeeze in Hong Kong 


By Christopher Reynolds 

Los Angela Times 


T HE whole world will be watch- 
ing when Britain hands over 
Hong Kang to China at mid- 
oighr on June 30, and for thou- 
sands of travelers it’s apparently not 
enough to watch from a distance. 

Tour operators and hotel represen- 
tatives say travelers . are rapidly 
grabbing up Hong Kong accommoda- 
tions for ihe island’s last rix months as a 
colonial outpost and for foe first days 
-following the hand-over. 

“We just don’t have enough space to 
sell,” says Peter Yeura, 

•New Jersey-based Pacific Bestour. The 
company sent about 16,000 Americans 
to Asia in 1996, and is forecasting a 20 
percent increase in 1997, thanks largely 
■to the Beijing takeover and increasing 
popularity of Yangtze River cruises. 

“When I pull up June 22 to 30 [on the 
computer that looks for flight avail- 
ability by date], I get nothing but zer- 
= 08 ,” said Cynthia Klein, travel agent at 
.Your Travel Ceater/Carison. Wagonlit 
.in Gdeta, California. 

All foisinterest in Hong Kong comes 


amid widespread fears that China’s 
leaders could crack down on foe high- 
priced. high-flying lifestyle of the long- 
time British colony, which holds one of 
die world’s greatest concentrations of 
skyscrapers and one of the highest ratios 
ofRolls-Royces to people. Leisure trav- 
elers are clearly drawn by the prospect 
of participating firsthand in a historic 
transaction, even if the outcome is un- 
certain. And the travel industry is cap- 
italizing on that attraction. 

At Hong Kong’s Marco Polo and 
Prince hotels, where lowest rates for last 
foil were listed at about $250 a room, 
changeover packages require stays of at 
least five nights af about $330 nightly. At 
the Hong Kong Hotel, part of the same 
chain, a $265-a-nighi double room, its 
cheapest, will leap to about $415. And 
these, industry insiders say, are relatively 
conservative increases. Routinely, tour 
operators say, prime Hong Kong prop- 
erties are charging changeover rates at - 
$300 to $500 a person a night Some- 
times, breakfast is included. 

After bearing of those rates and 
searching her computer for June flights, 
Klein, foe travel agent, was delighted to 
find a package arranged by the tour- 


packaging arm of Asiana Airlines: 
Rales begin at $1,997 a person for five 
nights’ lodging, breakfasts and round- 
trip coach air fare between Los Angeles 
ana Hong Kong. She doesn't expect the 
openings to last long. 

At San Diego-based Japan & Orient 
Tours, which takes about 10.000 Amer- 
icans to Asia yearly, Hong Kong has 
been the focus of a three-year strategic 
planning effort: Every chance it got. the 
company blocked more hotel rooms for 
the transition. “It was a big gamble, but 
it has paid off,” says C J. Dennett, vice 
president for marketing. “We have had 
tremendous interest.” 

HANttovn took By late December, 
the company had blocked more than 300 
rooms in eight Hong Kong hotels and 
was offering them as part of a “Historic 
HandoverTour.” About half of the 
available spots have been taken already, 
Dennett says, and another surge in re- 
servations is expected in January, Prices 
range from about $2,600 a person for 
five nights in Kowloon's Park Hotel 
(double occupancy) to $4,800 a person 
for six nights in foe posh Mandarin 
Oriental Hotel. 


THE CAR COLUMN 


afe Du TRrogre s ^ 





m 




'> -telf* ts-A'r — : — r>. — 







■T^ fcACE Si 





j||ppf|§! 





Get a Horse? Why Not a Scenic? 


By Gavin Green 




round-trip BA Concorde ticket from 
London to New York and you can (prob- 
ably) expect an airline car to meet you at 
die steps of the plane to catch a tight 
connection. But this is a long way short 
of total journey management 

The Code-Sharing Ideal 

The airlines claim that code-sharing 
(whereby two or more airlines use tire 
same "designator” or flight number) 
with an allianc e partner provides seam- 
less travel The idea is that you can check 
all the way through with a sheaf of pre- 
issued boarding passes. If you miss a 
connection, you're not just left standing 
there. Someone will be waiting for you at 
the gate and figuratively take you by the 
hand. You and your bags will be auto- 
matically rechecked for a later flight. On 
arrival, airline staff will meet you and 
take you to the hotel (booked through the 
airline), which will have kept your room, 
even if you show up 12 hours late. 

Code-sharing sometimes takes the 
form of the "double designator,” 
whereby two or more airlines operate the 
same flight, and “block seat” arrange- 
ments, whereby rare airline sells seats 
under its own code in another airline’s 
cabin. Such is the case with Delta, which 
sells seats on Virgin Atlantic between 
London Heathrow and New York; and 
Sabeoa, which sells seats on Virgin Ex- 
press flights between Brussels and 
Heathrow. We can expect to see more 
airlines sharing the same plane with their 
own fores, flight attendants, and inflight 
cosines and service. 

T HIS leads to the concept of the 
“virtual” airline (along with “vir- 
tual” alliances). After all, who 
needs to own aircraft and tire accom- 
panying infrastructure and overhead 
whan you can you “brand” your own 
section of someone rise’s plane. 

Mike Platt, commercial director of 
Hogg Robinson Business Travel in Lon- 
don, envisages travel agencies like his 
own buying blocks of airline seats (and 
hotel rooms) and marketing them under 
their own brand to corporate clients. 
.State-of-the-art data-base marketing — 
by which you can pinpoint the needs and 
habits of individual travelers, along with 
the latest in information technology, and 
you have a prescription for total journey 
management — a customized and con- 
stantly edited trip schedule. 


AYBE car bosses really are 
thick. After all why has it 
taken the best pan of 100 
years to come up with a 
sensibly shaped car in which to cany 
people? Since Chrysler in America (with 
foe Voyager) and Renault in Europe 
(with foe Espace) first figured it out, foe 
rest of the world’s carmakers seem to be 
foiling all over themselves to jump on the 
people-carrier bandwagon. 

The fact that these new-wave 
vehicles, booming in popularity on both 
sides of the Atlantic, are called people 
earners is enough of an indictment 
After all, what were all cars, if they 
weren’t people carriers? In truth, they 
were belter at carrying engines or lug- 
gage than they were people. 

The first cars, 100- odd years ago, 
weren't really cars at all; they were just 
carriages minus a nag or two and usually 
with a vibratory little engine under foe 
driver’s bottom. You can’t really blame 
the early carmakers for starting with the 
existing mode of transport foe horse- 
drawn carriage. More reprehensible was 
that it took so long to throw the horse- 
less-carriage concept away. In many 
ways, we're still paying foe price. 

The existing car dashboard, for in- 
stance. is a direct throwback to the old 


carriages. In the old days, the dash kept 
off splashes of mud Nowadays, it is 
usually just a big ugly plank of plastic 


full of mostly useless gauges and gad- 
gets. Just as useless is the trunk that 
broadly speaking, takes up as much 
fore-aft space as foe passenger com- 


Renault Scenic 2.0. About 

$24 W0. Four-cylinder engine. J 998cc , 
115 BHP at 5,400 rpm. Top speed: 
I85KPH (1J5 MPH). Acceleration: 0- 
100 KPH in 11.1 seconds. Average fuel 
consumption: 8.8 liters! 100 KM. 

partment and is usually empty any- 
way. 

The people carrier or MPV (mul- 
tipurpose vehicle) or minivan or 
monobox moves away from foe box at 
foe front (engine), box in the middle 
(people), box at the back (luggage) 
strajtjacket in which we've been stuck. 
Instead, all the fore-aft length, or at [east 
most of it. is devoted to people. 

The new Renault Scenic takes the 
breed a stage further. It is small for a 
people carrier, of Escort or Golf size. It 
is also a five-sealer, rather than a seven- 
up, Renault eschewing a third row of 
seats in order to give as much space as 
possible for foe rest. The upshot is that 
five adults can sit in a Scenic in great 
comfort. 

Adjustable and Versatile 

Compared with an equivalent hatch, 
the Scenic is also marvelously versatile. 
The rear seats are fore-aft adjustable, 
varying foe ratio of rear-seat room to 
luggage space behind The middle rear 
chair can be taken out completely. In 
their backmost position, foe little Scenic 
has as much legroom as a lima. 

like all MPVs, the high roof makes for 
generous headroom, so you sit upright, as 
in an armchair, rather than foe usual 
semi-reclined position as in most small 
sedans or hatches. The big glass area 


ARTS GUIDE 


makes for a generous view of foe scenery, 
helped by foe high seating position. 

The downside of most MPVs is foe 
trunk — or lack of it. While it’s true that 
trunks are empty most of the time, they 
are occasionally useful. On foe Scenic, 
there is quite a reasonable trunk area 
behind the rear chairs. The luggage area 
is especially useful though, owing to an 
ingeniously novel “double-decker” 
shelf system. The rear parcel shelf, 
which covers foe trunk, can also be 
repositioned lower, as a shelf allowing 
foe trunk to be double stacked You can 
thus carry your dog on the top shelf and 
your shopping underneath, effectively 
doubling trunk capacity. 

L IKE most MPVs, the Scenic owes 
its mechanicals to another bigger 
volume model — in this case foe 
Megane. Engines, gearboxes and sus- 
pension are all Megane carryovers, as is 
the dash. It’s a shame about foe latter 
because the Scenic would be more de- 
sirable if it used the dash to cany 
something useful, rather than a lot of 
plastic and instruments. 

In every other way. the Megane an- 
cestry involves little sacrifice. Indeed 
the Sttenic — despite its extra height — 
handles as well as a normal Megane 
hatchback and rides better. There has 
never been an MPV that drives more 
like a conventional car. so easing the 
path into this new form of motoring for 
even the most conservative of drivers. 

Next: Ford Mondeo 

Gavin Green is the editor in chief of 
Car magazine. 


■ BRITAIN 

London 

Victoria & Albert Museum, tel: 
(171) 9384349/ open daily. Con- 
tinukig/To Jan. 26; “American 
Photography 1690-1965 from the 
Museum of Modern Art in New 
York." From Jacob FUis to Diane 
Aitous, 185 images by American 
photographers. 


Paris 

Centra Georges Pompidou, tel: 
01 -44-76-1 2-33, dosed Tuesdays. 
To April 7: “Face a FHisloire.” Fea- 
tures paintings, drawings, sculp- 
tures, photomontages, Installa- 
tions and videos by Beckmann, 
Dal, Chagall, Klee, Picasso, 
Fautrier. Beuys and BoeW that re- 
flect the artists' vision of the major 
political events of the second hall 
of the century. 

Grand Patels, tel: 01-47-03-12- 
50, dosed Tuesdays. Continuing/ 
To Jan. 20: "Picasso et le Por- 
tratt.” 

E | GERMANY 

Cm onwr 

Josef Haubrleh-Kunsthalle, tel: 
(221)221-23-35, dosed Mondays. 


ContlnuingHb Jan. 12: "Star 
Trek: The Exhibition." A behind- 
the-scenes look at the famous tele- 
vision series with a display of orig- 
inal artifacts, models and cos- 
tumes. 

B UNITE P STATES 
New York 

Whitney Museum of American 
Art, tab (212) 570-3633. dosed 
Mondays and Tuesdays. Continu- 
Ing/To Feb. 23: "New York Dada: 
1915-1923." A comprehensive 
study of the group of New York- 
based artists who formed the 
American branch of the Dada 
movement Includes works by 
Marcel Duchamp, Man Ray and 
Francis PJcaWa. among others. 

Washmoton 

Smithsonian Institution, tel: 
(202) 357-4880, open dally. To 
April 6: "Art of the Persian Courts.” 
Nearly 1 00 paintings, manuscripts, 
drawings, works of calligraphy and 
objects, dating from the 14th to 
19th centuries. The exhibition ex- 
amines the literary and pictorial tra- 
ditions supported by die Persian 
courts and highlights the influence 
of Persian culture across the Is- 
lamic world. Including Iraq, Iran, 
India and Central Ada. 


CLOSING SOON 

Jan. 5: "Now We Are 64: Peter 
Blake at the National Gallery." Na- 
tional Gallery, London. 

Jan. 5: "Mysteries of Andent 
China.” British Museum, Lon- 
don. 

Jan. 5: "Bridging the City.” Royal 
Academy of Arts. London. 

Jan. 5: "Grand Tour The Lure of 
Italy in the Eighteenth Century.” 
Tate Gallery, London. 

Jan. 5: "Victor Horta." 

Palais des Beaux-Arts, Brus- 
sels. 

Jan. 5: "LifefLive." Muses d’Art 
Modeme, Paris. 

Jan. 5: "Georg Baselitz." Muses 
d’Art Modems, Paris. 

Jan. 5: "De L Impressionism® a 
I’Art Nouveau." Musee d’Orsay, 
Paris. 

Jan. 5: “Manet bis V&n Gogh: Hugo 
von Tschudi - Der Kampf urn die 
Modeme.” Arte Natlonalgalerie, 
Berlin. 

Jan. 5: "Marianne und Germania, 
1789-1889." Martin-Groplus- 
Bau, Berlin. 

Jan. 5: "Fefix Thiollien Alltag. 
Landschaft, und Archilefclur 
Frankreichs in Photographien." 
Staatsgaksrie, Stuttgart 
Jan. 5: "Max Beckmann in Exile." 
Guggenheim Museum SoHo, 


New York. 

Jan. 5: "Scaasi: The Joy of Dress- 
ing Up: A Retrospective." The 
New-York Historical Society, 
New York. 

Jan . 5: "A Fine Une: Rembrandt as 
Etcher." The Pterpont Morgan Li- 
brary, New York. 

Jan. 5: “Faberge and Finland: Ex- 
quisite Objects." The Corcoran 
Gallery of Art, Washington. 

Jan. 5: "Degas: Beyond Impres- 
sionism.” The Art Institute, 
Chicago. 

Jan. 5: “Crossing the Frontier: 
Photographs of foe Developing 
West, 1849 to foe Present." Mu- 
seum of Modem Art San Fran- 
cisco. 

Jan. 5: “Adolph Menzei. 1815- 
1 905: Between Romanticism and 
Impressionism." National Gal- 
lery, Washington 
Jan. 6: “Vassily Kancfinsfcy: La Re- 
volution del Lenguaje Pictorico." 
Museu d’Art Con tempo rani, 
Barcelona. 

Jan. 6: "Lutio Fontana: Retro- 
spective." Palais Liechtenstein, 
Vienna. 

Jan. 6: "Gii Ingegneri del Rinas- 
cimento." Palazzo Strozzi, 
Florence. 

Jan. 6: "Le Retour des Anges: 
Baroque des Cimes en Bolivie." 

Chape He de la Sorbonne, Paris. 


HOLIDAYS AND TRAVEL 


French Riviera 

CANNES, supeto hose, deeps 7. Waft- 
ing detente beadi/Craisote. Canton, 
pod. maidfcooL Tefc +33 (0)493129105. 


Lebanon 

HOTEL AL BUST AN. East of Beirut 
5 BtardBfens. Exceptenal faction, secu- 
rity, cordon, line cusine, conventions, 
txtinass sendees, sateUe TV. IB min 
transfer bum airport tree. UTELL Fax 
212-47813B1 / (r3? (0)1-472000 07 


BREATHTAKING MEW OF NEW YORK, 
20 ft. gtass waft Central Park & C4y. 
Luxunously tornfahed. piano. In. catte. 
For busness, musician or honeymoon 
couple. 1 Uock u Cameras Hal, 2 to 
Lettennan, 5 to Lincoln Center, Muse- 
ums, Theaters. Weakly. Monthly. 3 day 
weekends I minimum) or tong term. 
TeUFac 212-262-1561 USA. 


DISCOUNT TRAVEL 


i» oeyvorr of you* tickets s 

AinHUMMffMAH | 

REGU1AR FLIGHTS RT: i 

New York/Montreal 2,070 F i 
Tel Aviv 1,490 F J 

Cuba 3,0 9 0 F \ 

iilffi&Mm nifeSl f 

MADEIRA 2,660 F I 

ratals RT* HcaH 8 cfov%/7 nttF. ♦ hflS ta*tl : 

CYPRUS 2,340 F i 

Rqhe RT. Hold M * (JjjV? wrti • MNi1a0 5 

NORHT INDIA TOUR 6,770 F 

R^mRT« MaefcJ* ICO-TH . Inerttei » «s*i 

TAHIT1+MOOREA 7,900 F 

rag/ns W. HJttf J* I6a*i~ngna- JmbUst: 

YEMEN TOUR 7,720 F 

ftgro RT, rtttrl to StTM , hj buij • MGtl 

MARRAKECH 2,540 F 

Hgfcfc ITT. Hc*<H 5* B HwV7 "flhts . rwt 

ISTANBUL 1,690 F 

n#TC.RT- *WS*W F 3 . Mwfctaa 


Holiday Rentals 


Caribbean 

ST. HARTHELEIfV, F.Wi. OVER 200 
PRIVATE VACATION VILLAS - be«h- 
trom to hdsfle otto pools. Our egerte 
have inspected all vEas personal^. For 
moorcaws on SL Barts, St Martin, An- 
psb. Barbados. Mutique, to Virgin b- 

iuris- can moomtm ■ u.s. 

MflllMMOiaia x 547-6230. from 
FRANCE OS BO 16 20 - ENGLAND T) 


HoBdays and Travel 


STUDY TOUR M TAB’S. Learn Ctwwse 
Language WorthMe Agency Wanted! 
TeL 886-2-5853511 Fa* 886-2-591 988a 
Itep^eww^eafiflpirriJWtiJdytour^ 


International 
Herald Tribune 
ads work 


■WMM318 


RESIDENCE HOTELS 

PARIS 

LES SUITES SAINT-HONORE 

★★★★ 

13, rue D’Aguesseao, 75008 Paris 

Just off the Faubourg Saiiu-Honore and Die Etysee Palace 

A LUXURY APARTMENT HOTEL RESIDENCE 

Very exclusive, located in one of the most prestigious neigh- 
bourhoods: Faubourg Saint-Honore and Champs Elysdes. 
Thirteen personalized large apartments up to 1200 sq. feet 
completely restored in 1992 with folly equipped kitchens, liv- 
ing-dining rooms, as well as one or two bedrooms, one or two 
marble bathrooms and some with studies. 

Ideal for both family holidays and business trips, a perfect 
"pied-a-terre”. 

All hotel services. Daily maid service. Air condi donning. 
Underground parking. Complete security. 

For more information nr resenutions, please fax directly to: 
+33 (0U 42 66 35 70 or call +33 (Oil 44 51 16 35 


SKI HOTELS 

AT THE FOOT OF THE AIGUILLES, UVE IN THE SNOW IN 

STAR G^ HOTCl 

Lb Lowoncher, 74400 Chamonix ManMUanc 
Tefc +33 [01 4 50 54 0376 - Fax; +33 (O) 4 50 54 TO 75 





Lingering Snags on Hebron Accord 
Hold Up Israeii-Palestinian Summit 


Crfiptaf ffj Our Stiff From Dispaui*! 

GAZA CITY — Stubborn differences 
over a Hebron accord held up moves for 
a meeting of the Israeli and Palestinian 
leaders Thursday, despite new urgency 
given to concluding a deal by a shooting 
spree in the volatile city the day before. 

President Bill Clinton's Mideast's en- 
voy, Dennis Ross, met with the Pales- 
tinian leader, Yasser Arafat, to try to 
bridge the gaps and arrange a meeting 
with Prime Minister Benjamin Netanyahu 
of Israel, but he apparently fell short, 

“We have not solved all the remaining 
issues that still have to be resolved before 
having an agreement,” Mr. Ross said 
after the meeting here. "We are con- 
tinuing to work through the problems.' ‘ 


Mr. Arafat said after the talks that the 
meeting with Mr. Netanyahu had not 
been set. He added, however, that the 
two sides would meet * ' when the matters 
are completed and the talks finish and 
when we get close to the final agree- 
ment. which will be soon.” 

Before the meeting, the Palestinian 
information minister. Yasser Abed 
Rabbo. said there were “obstacles in the 
heart of the agreement." and Palestinian 
negotiators said Thursday that they 
would not sign any accord until Mr. 
Netanyahu committed himself to a de- 
tailed timetable for further troop with- 
drawals in the West Bank. 

Mr. Netanyahu has told the Pales- 
tinians that the so-called "further re- 


By Joel Greenberg 

\ 7 n- y.-iri rimes Sfrvtre 


JERUSALEM — As new details 
emerged Thursday about his unstable 
emotional past, the soldier who shot up a 
Hebron marketplace Wednesday told in- 
vestigators that he wanted to avenge the 
killing of a classmate kidnapped by Pal- 
estinians and the deaths of the militant 
Rabbi Meir Kahane and Baruch Gold- 
stein. a Jewish settler who killed 29 
Muslims at prayer in Hebron in 1994. 

The police said they had arrested a 
second soldier in connection with the 
market shooting on suspicion of con- 
spiracy and failure to prevent a crime. 
The soldier. Yuval Jibli of Jerusalem, 
served on the same base with Noam 
Friedman, the conscript who opened fire 
Wednesday and wounded seven people. 

In separate court hearings Thursday, 
both soldiers were ordered held in cus- 
tody pending further investigations by 
the police. 

Brought before a judge in the town of 
Petah Tikva, Private Friedman repeared 
earlier assertions that he had acted to 



prevent an expected agreement on an 
Israeli Army withdrawal from most of 


Israeli Army withdrawal from most of 
Hebron. 

Manacled and wearing a black 
skullcap. Private Friedman declared: 
"When I heard that the agreement was 
about to be signed to surrender the holy 
city bought for 400 shekels of silver by 
our forefather Abraham. I decided that 
this can’t be passed over in silence." 

According to Biblical accounts, the 
Jewish patriarch. Abraham, bought a 
burial plot in Hebron for his wife, Sarah, 
and was later buried there, along with his 
sons. Isaac and Jacob, and their wives. 
The Tomb of the Patriarchs shrine in 
Hebron, holy to Muslims and Jews, is the 
traditional site of their graves. 

The police said that Private Friedman 


Sven NKUnaVApu Francc-Rrur 

Noam Friedman smiling as he sat 
in a police car after the shooting. 


had told investigators that he acted to 
avenge the death of Corporal Nahshon 


Waxman, a soldier kidnapped in Oc- 
tober 1 994 by militants from the Islamic 
movement Hamas and killed during a 
failed rescue attempt. 

The two soldiers had studied at the 
same religious high school in Jerusalem. 


and Private Friedman visited the be- 
reaved family a few times after Corporal 
Waxman’s death. 

Yehuda Waxman. the dead soldier’s 
father, recalled Thursday that Private 
Friedman, then a civilian, had appeared 
very upset and had warned that the Pal- 
estinians were going to bring on another 
Holocaust. 

“He was very agitated by Nahshon 's 
murder." Mr. Waxman said. “He was 
very concerned about the attempts to 
compromise with the Palestinians. He 
had a fear that the Palestinians were 
going to take over, that we would lose 
the country and go into exile. He ex- 
pressed feelings of revenge, and said that 
they can't do this to us. that the terrorism 
always comes from one side. I tried to 
calm him down." 

The police said Private Friedman had 
also told them that he had wanted to 
avenge the death of the militant anti- 
Arab rabbi. Meir Kahane. who was as- 
sassinated in New York in 1990. 


HEBRON: Peace Process Survives Attack 


Continued from Page 1 


mander long imprisoned in and then 


Mr. Netanyahu had the advantage o 
knowing that there was no Netanyahu ir 
opposition — no mainstream leader tc 


expelled from Israel. Mr. Rajoub was a his right who would condemn him. 

« J _ _ ■■ _ • 14. I « J J 14. J 


regular devil figure in Mr. Netanyahu's 
campaign rhetoric. 

Mr. Netanyahu accused two former 
prime ministers. Yitzhak Rabin and Shi- 
mon Peres, of “subcontracting Israel's 
security" to “thugs" and "terrorists" 
like Mr. Rajoub, who runs the Pales- 
tinian Preventive Security Service in the 
West Bank. 

On Wednesday. Mr. Netanyahu's 
government did just what its prede- 
cessors did. 

In the aftermath of Mr. Friedman s 
attack, the army and Shin Bet internal 
security service worked closely with Mr. 
Rajoub. inviting him to set up a com- 
mand center in Hebron's Alia Hospital 
with Tariq Zayad, the designated police 
chief for Hebron after Israel ’s withdraw - 
al. and the Palestinian Army command- 
er, Abdel Fatah Jawadi. 


condemned Mr. Rabin and Mr. Peres, for 
reckless reliance on .Arabs instead of on 
Israel’s own might. 

A similar immunity permitted him to 
phone Yasser Arafat and condemn Mr. 
Friedman’s shooting as a criminal act. 

He used language that drew explicit 
parallels between Jewish and Arab ter- 
rorism. a comparison he has not uttered 
before, and he also spoke a formula he 
had ridiculed when offered by his pre- 
decessors. “No crime and no act of 
violence." he said, would deflect his 
government from negotiating peace. 

Mr. Arafat, for his part, resisted many 
temptations Wednesday. 

Mr. Friedman’s attack took place on 
the anniversary of the founding of Mr. 
Arafat's faction, Fatah, of the Palestine 
Liberation Organization. Parades 
planned for the occasion, throughout the 


Mr. Flajoub made sure he was seen in West Bank and Gaza Strip, were a ready- 
public working with Major General Uzi made occasion for fervent nationalism. 
Davan of the Israeli Army and Ami Ay- and it would not have taken many hints 


Davan of the Israeli Army and Ami Av- 
alon, the Shin Bet chief, to calm the city. 

According to Palestinian and Israeli 
sources alike, he sent plainclothes agents 
throughout the city to instruct stone- 
throwing youths to go home, and Mr. 


and it -would not have taken many hints 
from Mr. .Arafat to turn them violent. 

3ut Mr. Arafat chose not to speak at 
all at Gaza's parade, where Fie was the 
featured orator last year. 

Further. Palestinian radio and tele- 


Jawadi personally sped to the scene of vision featured Mr. Netanyahu’s apo- 


one riot to defuse it. 


logy for the 2 ttack. 


Zairian Rebels Capture Key Town 


As Regime Vows Counteroffensive 


.wairi ft* i tyf/wi Dupisi hr; 


BCNIA. Zaire — Rebels seized the 
strategic town of Bunia in northeastern 
Zaire and nearby gold mines in a fierce 
battle with government forces that left 
hundreds dejd. residents said Thurs- 
day. 

"The fighting was terrible and there 
were bodies all over the streets." said a 
teacher. Pierre Lolo. “Those of us who 
had not already fled to the forest had to 
stay in our homes." 

the city fell to the rebels, who are 
try ing to carve territory out of the east, 
after a 1 2-hour battle on Dee. 24. The 
rebels said 307 government .soldiers 
were killed while their own forces sus- 
tained 75 casualties. 

Meanwhile, the government of Mar- 
shal Mobutu Sese Seko announced plans 


to rally the armed forces for a quick 
counteroffensive against the rebels, who 
have captured a large swathe of ter- 
ritory. 

The eastern Zairian provinces of North 
and South Kivu have been in the hands of 
Tutsi -led rebels for rwo months. 

The chief of the general staff will be 
granted “all necessary strategic and lo- 
gistical means to cany out the counter- 
offensive by the Zairian armed forces in 
the shortest possible time.” Defense 
Minister Likulia Bolongo said in a state- 
ment. 

The statement made available to 
Agencc Zaire-Presse sard the counter- 
offensive would be “sweeping and 
crushing, without sparing any Zairian or 
foreign perpetrator who connives with 
the enemv.' ' { Reuters . AFP) 


deployment" would begin within six 
weeks of the signing of a Hebron agree- 
ment. but he has not said by when it 
would be completed- 
Jamil Tariff a Palestinian negotiator. 


said that the “most important thing for us 
are dates for the second and third stages 
of redeployment" in the West Bank. 

Hopes for a meeting Thursday had 
been raised after a marathon negotiating 
session the previous evening in Tel Aviv 
anended by Mr. Ross ana led by the 
Israeli defense minister, Yitzhak Mor- 
dechai. and Mr. Arafat’s No. 2. Mah- 
moud Abbas. 

Heading into the session. Mr. Abbas 
had predicted a signing * 'within 24 to 4$ 
hours, if there are no bad surprises.” Bui 
after that meeting, Mr. Mordechai said 
that while there was "agreement on the 


Soldier in Hebron Attack 
Sought to Avenge Deaths 


large majority of clauses." there were 
“still one or two which will be discussed 


Thursday by Netanyahu and Arafat." 

David' Bar-flan. Mr. Netanyahu’s 
spokesman, accused the Palestinians of 
“stalling" in the negotiations because 
“they feel that the situation of no agree- 
ment favors them and is detrimental to 


Israel and the Palestinians have been 
wrangling since Oct. 6 over a formula 
for a Hebron handover after Mr. Net- 
anyahu's government demanded 
stronger guarantees for the 400 Jewish 
settlers who live among the city’s 
120.000 Palestinian residents. 

Both sides underlined the need for a 
quick resolution of the talks after a right- 
ist Israeli soldier opened fire on a 
crowded market in Hebron on Wed- 
nesday, wounding six Palestinians, in an 
effort to torpedo the accord. 

Mr. Netanyahu called Mr. Arafat im- 
mediately afterward to condemn the at- 
tack, insisting the two sides had to reach 
a deal on Hebron. Mr. Clinton also called 
Mr. Arafat to urge him to “bear down 
and get it done with.” 

Under the 1995 Oslo accords. Israel 
was to pull its troops out of 85 percent of 
Hebron, the last major West Bank town 
under Israeli occupation, to allow Pal- 
estinian police to take their place and 
bring Palestinian administration over the 
entire city. 

In addition to demands for an Israeli 
commitment to conduct more army re- 
deployments from West Bank rural areas, 
talks have stuck over Palestinian demands 
for a role in guarding the Tomb of the 
I > atriarchs, Hebron's central holy site. 

The Israeli internal security minister, 
Avigdor Kahalan, also cited problems 
previously said to be closed, including 
Palestinian demands to reopen a main 



U.S. Poised for Decision on Land Mines 

Supporters of Ban Fear Clinton Will Opt for Slow Track to a Treaty 


By Dana Priest 

Washington Post Sen-ice 


street tunning directly in front of another 
Jewish settlement that has long been 


closed by the army, and over security for 
Tel Rumeida. an enclave of seven Jewish 
families on one of Hebron’s hills. 

The United Stares said Thursday that 
it had received threats of increased ter- 
rorist attacks over the next two weeks in 
Israel and the West Bank, and warned 
Americans there to exercise caution. 

“There are indications of an in- 
creased likelihood of terrorist attacks 
over the next two weeks. U.S. citizens 
are advised to exercise caution in public 
areas, to avoid travel on public buses, to 
avoid congregating at bus stops.” said 
the State Department spokesman, Nich- 
olas Bums. (AP, AFP. Reuters) 


WASHINGTON — The international 
campaign to ban anti-personnel land 
mines is at a crossroads, and President 
Bill Clinton will probably determine 
which way it goes. 

Mr. Clinton is set to decide whether to 
join several dozen countries led by 
Canada that will begin next month to 
craft an international treaty banning the 
use, export, production and stockpiling 
of anti-personnel mines. Although 
China and Russia say they will not sign 
the pact, supporters of the treaty say that 
it would be a quick first step toward an 
eventual worldwide ban of the weapons, 
which are estimated to wound or kill 500 
people each week. 

The alternative for Mr. Clinton is to 
adopt a slower approach supported by 
the Pentagon and many in die White 
House. It calls for negotiating a ban 
through the United Nations Conference 
on Disarmament in search of a broad 
consensus shared by Beijing and Mos- 
cow. even though that is likely to take 
years io achieve. 

About 50 countries have expressed 
initial support for the faster Canadian 
effort, known as the Ottawa Conference. 
Backers include some nations with the 
biggest land-mine problems, like Af- 
ghanistan. Angola and Cambodia. 

The goal is to unite a legally binding 
treaty that would be signed in December 
by as many countries as possible. Sup- 


porters hope that the agreement will 
stigmatize the weapons and that other 
countries eventually would feel com- 
pelled to sign, too. A first working ses- 
sion is set for February in Vienna. Bel- 
gium, Norway and Switzerland have 
offered to sponsor follow-up meetings. 

Supporters of the treaty say that if 
Washington bows out. the pressure to 
participate will be off other wary coun- 
tries. like Britain and Ranee. 

“What we're trying to do here is not 
capture the entire world, but establish a 
moral authority,' ’ said Robert Lawson, a 
top Canadian disarmament official. 

The second track through the Con- 
ference on Disarmament, a famously 
slow international body, aims to create a 
ban that ail member countries would 
sign. Critics and supporters alike ac- 
knowledge that it could take years to 
reach even a narrow agreement. 

The Clinton administration is split on 


the subject. * ‘in introspective disarray,” 
as one disarmament official put it. 

Some in the State Department favor 
lending U-S. prestige to the Canadian 
effort. But Mr. Clinton in the past has 
taken his cue on the issue from the 
Pentagon, which favors the slower ap- 
proach. 

Members of the National Security 
Council are said to be leaning toward the 
Pentagon’s position. But a high-ranking 
council official suggested in an interview 
that it might be possible to pursue both 
tracks simultaneously by giving rhetor- 
ical support to the Ottawa Conference 




BELGRADE: 

Church Speaks Out 

Continued from Page 1 






BiV. *• •/ 









El 


lose vic’s style of leadership from other 
Y ugoslav institutions, including the army 
and the courts. In fee opinion of many • 
analysts, the only institution left feat is; 
vital to Mr. Milosevic's hold on power is 
fee 80,000-strong police force, which is' 
well-trained and disci pline d 

“Milosevic has purposefully des- 
troyed every authority and every in-! 
stitution in the country, wife die ex-- 
ception of himself," said a former' 
government official. “He has killed fee 
middle class, the church, fee media, fee 
Acad emy of Sciences, the university, the 
army, fee Supreme Court. He is fee sole ’ 
authority left." ; 

■ Opposition Weighs New Tactics ■ 

The opposition leader Vuk Draskovic 
indicated that new ways of conducting! 
fee protests may be announced in fee- 
coming days, The Associated Press re-' 
ported from Belgrade. 

* ‘Our battle for a democratic Serbia is • 

entering fl final nhQf ” K*- r-v « - ■ 


■ ocruiaib 

entering a final phase,” Mr. Draskovic' 
sajd. We won’t be demonstrating on- 

Streets fcm-V^r ” Ha . 


VUK-o Vuiffrft.'Apnr* liar-IVw 

Demonstrators in Belgrade talking with an opposition leader, Zoran Djindjic, right, during a rally Thursday. 


streets forever.” He called on ^e to 
stage smaller rallies “behind fee police 
cordons because “fee next few days 
will be crucial for our decisive battle/' 


New UN Chief Starts 
Assembling His Staff 


NATO: In Hungary, Army Officers Are Learning the Western Way 


Continued from Page 1 


UNITED NATION'S. New York — In 
his first day as UN secretary -general 
Thursday. Kofi Annan of Ghana an- 
nounced provisional appointments to his 
executive office, wife Iqbal Riza of 
Pakistan named as chief of staff. 

Mr. Riza was a peacekeeping official 
from Pakistan and is a former UN rep- 
resentative to Bosnia. Ir. addition. Rolf 
Knureon of Sweden, director of political 
affairs, and Patrizio Civili of Italy, di- 
rector of economic and interagency af- 
fairs. were appointed to the executive 
office. They both worked fer Mr. Annan's 
predecessor. Boutros Boutros Ghali. 

Mr. Annan also named two executive 
assistants. Elizabeth Lindenmayer of 
France and Shashi Tharoor of India. 

A spokesman. Fred Eckhard. said the 
new- secretary -genera! was. also consid- 
ering appointing a deputy. 


eluding the chief of staff. General Ferenc 
Vegh. have gone to Britain. Canada. 
Germany or fee United States for 


lengthy stints of study. 
Considerable resou 


for all 72.000 members of fee armed the first Himganan brigade to beNATCu 
forces (down from 150,000 in 1989 and ready. B ongaae to be NATO- 

heading for 60.000 in 1997). The state- By January loqc n..-,,, , T 
menf read right out of the textbook on hie Na «y and’ 


Considerable resources have been 
ured into English instruction, as well. 


menf read right out of the textbook on his men are sinmosed m h* j 
W estern management: “In the case of go on a MlSKSSJ ° to 


pourea into tngnsn instruction, as well, officers, warrant officers and noncom- 
In one innovation, Hungarian teachers of missioned officers. I consider comrait- 
Russian were sent to the Defense De- ment, knowledge, creative thinking 


partment English Language School in 
San Antonio and convened into English 
teachers. 

General Vegh. 48. typifies what 
NATO and Hungarian officers hope will 
be a new breed of commander. 


=: JESSSSSStfeg: 

aunkrng. mUitaiy On Ws bookshfilVMthecnlmwi' 


ilie general is 5so stunningly frank. D- 

Downsizing. lower pay, poor working Abrams tank and nSt a . 1 
conditions and lack of public respect for itary equipment ™ er American mil-1 
the military have severely affected mor- Before forming ».■ , . , 

ale. Those left in the army, he wrote, are shards of a much 5 !* bn ^ de 001 of the' 
“becoming more and more apathetic." headquartered in . ^ garian anit - 

H*- also msA* his hr imuriliner o ... 1 80 kllomMi-rv /«tn- 


Tank Units in Moscow in the late 1970s. 
General Vegh was sent to the Army War 
College and graduated in 1993. a year 
earlier than Colonel Nagy. 

“The beauty of Ferenc Vegh is that he 
was trained on both sides.” said an 
American military officer. 


The general is also stunningly frank. Roosevelt rests among 
Downsizing. lower pay. poor working Abrams tank and nSt * . 1 

conditions and lack of public respect for itary equipment ™ er American mil-1 

Before forming t,!. I : 


Trained at the Military College of the military have severely affected mor- Before form! v u_: 

mk Units in Moscow in the late 1970s. ale. Those left in the army, he wrote, are ■*»■■*** ~ c - - nis bn, 


ale. Those left in the army, he wrote, are shards of a much/* 001 of the ' 

“becoming more and more apathetic." headquartered in -iS£Rn ?' unit. 

He also made his debut by unveiling a 33 52rf SS^?S 1 ’? mctes < 5 0- 
new slimmed-down command structure said he went k'Oronel Nagy' 

based on the American Joint Chiefs of GenS^S?£ theI ^ *7°' bas^. 
Staff system. A 2.000-member top staff and thenmodelS for a week 

is to be trimmed to 600 soldiers, he had seen ^ nis brigade on what he 


i what he 



.III 


A* I** 


1991 


HqrfM iM nwff— i 

A Palestinian in Hebron arguing Thursday with an Israeli settler in the West Bank city a day after an off-duty 
soldier opened fire on Arab shoppers in a market, wonnding seven, in hopes of scuttling a pullout accord. 


itk hr\ 
julDfarfo't 


■-T-. *sm 

-•-•**«* 'S# 

r** ■«& m. 


$i-v 



■T «S*.sS fc' 


without committing to sign a treaty. 

The nongovernmental organizations 
that have led the international campaign 
fear that a two-track strategy by the 
United States would be harmful. 

“This is a humanitarian crisis, yet the 
U.S. is poised to make a policy decision 
feat will slow down the momentum," 
said Stephen Goose, director of a Human 
Rights Watch arms control project 

There are an estimated 1 10 million 
land mines in fee ground in 64 countries, 
and most of their victims are civilians. 
Land mines are popular among armies 
and insurgencies because they are cheap 
to buy but expensive to clear. 

In May, Mr. Clinton endorsed fee 
Pentagon-backed status quo position. It 
banned older “dumb" mines, except in 
fee demilitarized zone between North 
and South Korea. 

Although an immediate ban on all 
anti-personnel mines was endorsed by 
15 retired generals, including General! 
Norman Schwarzkopf, commander of 
U.S. troops during the Gulf War, Mr. 
Clinton followed the Pentagon’s lead. 
Critics accused him of not wanting to 
rebuff fee Defense Department during 
an election campaign. 

Key commanders, who dominate fee 
Pentagon's thinking on the issue, want a 
worldwide ban on fee newer, self-de- 
structing “smart" mines before agree- 
ing to give them up. They argue feat 
mines are crucial in “channeling" en- 
emy troops and are an irreplaceable early 
warning against enemy approaches. 





, tfijstsr 

"••Tv Mr 

.. 

wmn 

! tokjv; Stmt. 

* 'i 

yilMMMMi 


K • • --i 



iltoiw 


-y*.. 




- J*#-; 








-ta 








** :mr; 

•?2 


-* ’*1 


■ 



' \ 


’ 4 

! ' V 



' " 



V*: . • 

\ r_ 



' 

* „ 

".It* 

- 




1 S-^ 

. vr - 

i * 

.. 

r!', 

* 

4- £ 


















^ V.: 





?i ! > ireah 


Hfralh;.!!SlErihimf 

BUSINESS/FINANCE 


FRIDAY, JANUARY 3, 1997 


PAGE 11 



A Record Run 


Last year^ rise of 26 percent in the Dow Jones industrial average was not 
ujprecendented. In fact, it failed to match IMSs gain of 33.5 percent. But 
wnat is unmatched is how stong the market has been over the last 15 years, 
uunng toe stretch, it has risen at a compounded annual rate of 14.2 percent 
a year, breaking the old record of 13.4 percent set just before the 1929 


crash. Last year, the Dow hit 44 new highs. That, too, was down from 
the record 69 new highs hit in 1995. But it ran to eight the string of 
years in which the index hit at least one new high. Never before, in the 
100-year history of toe Dow, has the index managed such a string. The 
old record, of highs in six consecutive years, ended in 1 929. 



.1910* 


1920’s 


.1 930’s 


1940’s 


1950’s 


1960’s 


1970's 


1980's 


1990's 


60 

Number dif new hiqhs 



40 . 

in Dow Industrials 

■ : 



20 * : 

Mi i 1 

.1 

1 

0 II »i 

illi • i 

jlII-I i 

Li I !■ ■ 


■imnini 


SouracOow Jones, Bhinyi Associates, Datastnam 


Thu Vc* Yurt T ire. 


Stocks in 1997: How Long Can This Go On? 


Profit Growth 
Holds the Key 
To Bull Market 


By Floyd Norris 

New York Times Service 


N EW YORK — As boll mar- 
kets go, the one the United 
States is in now has few 
equals. It could go. on and on 
— if eammgs keep rising, if baby 
boomers concerned about retirement 
continue to believe the stock market is 
the only possible investment; and if 
Federal Reserve Chairman Alan Green- 
span doesn't decide to add action to his 

WAIL STREET WATCH~" 

words about the possibility of shares 
being overvalued. 

Earnings may be die most important 
key to the 1997 Stock market- As 
companies’ operating earnings have 
zoomed In the 1 990s, they have allowed 
stock prices to rise almost without in- 
terruption while the ratio of prices to 


earnings remained within its normal 
range, albeit at the high end. With in- 
terest rates relatively low, that made it 
possible for some marker analysts to 
argue that stocks were not overvalued. 

That argument is still around, but it is 
more difficult to make. 

Earnings growth clearly slowed for 
many companies in lace 1996, and some 
say profits' will grow at a much slower 
pace this year. If they grow at all, and if 
investors are still willing to pay 18 or 20 
times eamings for die average company, 
then share prices can keep climbing. 

'Butif earnings were the only keyto toe 
market, share prices probably would not 
have risen as rapidly as they have in the 
past couple of years. Another key is 
investor psychology, which has turned 
highly bullish: Based on recent perfor- 
mance, investors have good reason to be 
optimistic. The Dow Jones industrial av- 
erage has just ended its best two-year 
period in more than 40 years, whh a rise 
of 68 percent. 

Those two years came at the con- 
clusion of tbe best 15-year period in 
market bistory. Fifteen years ago, toe 
Dow was sailed comfortably below 
1,000 points — about where it had been 
15 years before that — and there were 

See BULLS, Page 15 


Bear’s Lament: 
‘I Can’t Stand 
It Anymore’ 


By Peter Tmell 

Net* York Times Service 


NEW YORK — Oh, what a hard year 
it was to be a bear, and it is not getting 
any easier — notwithstanding a few 
recent market jitters, some less rosy 
forecasts for 1997 and a cautionary note 
from the chairman of the Federal Re- 
serve Board, Alan Greenspan. 

An old Wall Street saying holds that 
bear markets do not begin until there are 
no bears left, and many of toe market's 
most prominent pessimists have said that 
a surfeit of good news forced them to put 
their worries aside — at least for now. 

"I have toe hoof marks of tbe bulls all 
over my back." David Shulman, equity 
strategist at Salomon Brothers Inc. and a 
renowned voice of caution, said before 
deriding to go with tbe upward flow in 
1 995. “Itrequires company to be bearish, 
and there are stiH very few people willing 
to take that view.” 


Other well-known Wall Street ana- 
lysts have switched their views, too. 
Byron Wien. U.S. equity strategist at 
Morgan Stanley & Co., began talking 
about toe potential for a stock-market 
correction in early 1996. 

That forecast proved prescient when 
toe market aimed downward in June 
and July, but Mr. Wien said he expected 
the correction to go frirther. 

By late September, tbe rebounding 
market had made his position difficult. 
“At toe end of September, he just said. 
'I can't stand it anymore,'” said 
Thomas McManus, an equity strategist 
and principal at Morgan who works 
with Mr. Wien. 

“What it did was make him put his 
bearishness on the shelf.” 

“With 20-20 hindsight. everyone has 
probably been too bearish,” Mr. Mc- 
Manus said. 1 ‘Why didn’t you mortgage 
toe house to buy stocks? We have just 
had incredibly good markets. We have 
had better-than-average earnings recov- 
ery, a good bond market and a multiple- 
year expansion.” 

That is not to say there are no jitters. 
Barton Biggs, chief global strategist at 
Morgan Stanley, disturbed toe markets 
in mid-December when he said he ex- 

See BEARS, Page 15 


World Markets Drop 
On Fear of Inflation 

U.S. Economic Data Raise Worry 
That Interest Rates May Be Raised 


NEW YORK — Wall Street began 
1 997 on shaky ground Thursday as fears 
of higher inflation and interest rates sent 
stock and bond prices lower for a third 
consecutive day. 

Slocks extended a slide that marred 
1996’s finish after several U.S. eco- 
nomic reports raised concern that in- 
terest rates may be headed higher. 

The Dow Jones industrial average 
ended down 5.78 points at 6.442.49, 
recovering from a drop of more than 95 
points early in the session. A round of 
bargain hunting in the final half-hour of 
trading recovered all but a few points of 
toe Dow's drop. 

The price of the benchmark 30-year 
U.S. government bond dropped 1 7/32 
to 96 31/32, driving its yield up to 6.74 
percent from 6.64 percent Tuesday. 
U.S. markets were closed Wednesday 
for New Year’s Day. 

“This may all rum out to be a storm in 
a teacup, but rising U.S. Treasury yields 
are daunting and will hold our attention." 
said Nick Parsons, a trader at Societe 
Generate Strauss Turnbull in London. 

Robert Stovall, president of Stovall/ 
Twenty-First Advisers, said, “There's 
nothing more fundamental than infla- 
tion expectations and interest rates. If 
something happens to make that less 
favorable, then bonds will lead stocks 
lower." 

Analysts said the declines might sig- 
nal the start of a tough year for stocks. 
The market rose 26 percent in 1996 and 
33.5 percent in 1995. 

The report that sparked the sell-off 
came from toe National Association of 
Purchasing Management, which said its 
index of manufacturing activity rose to 
54.0 in December, the highest in six 
months, from 52.7 in November. A read- 
ing above 50 indicates growth in man- 
ufacturing, while one below that level 
indicates contraction. (Page 12) 

“Most people were leaning toward a 
slowing economy, but things look to be 
expanding faster than they thought,” 
said Terrence PigotL head of govern- 
ment bond trading at Daiwa Securities 
America. 


The report also revealed that more 
manufacturers were paying higher 
prices, further fanning concern about 
inflation. The purchasing figures were 
the latest in a recent batch of data to 
contradict the moderating economic 
trend that had fostered hopes for con- 
tinued low inflation and ignited finan- 
cial markets in the second half of 1996. 
After November's unexpectedly strong 
showing, many economists had expec- 
ted a slight drop in toe purchasing aata. 

A pickup in manufacturing activity 
could indicate that wages will rise, which 
would increase in inflationary pressures 
by increasing product prices. The Federal 
Reserve Board has thus far held off on an 
increase in its key lending rates, which 
would help contain inflation by slowing 
toe economy but could hurt stocks by 
cutting into consumer borrowing. 

More investors are speculating that 
the Fed may raise bank lending rates 
soon to slow growth and restrain in- 
flation. Expectations for the Fed's next 
change in rates are “shifting radically.” 
said Michelle Laughlin.aTreasuiy mar- 
ket strategist at Prudential Securities in 
New York. 

The fresh declines on Wail Street 
pushed European stock indexes, which 
were under pressure from Tuesday's 
decline, even lower late in the day. 

In Britain, the Financial Times-Stock 
Exchange 100-share index fell 1 .48 per- 
cent. The last time the index fell so far. 
so fast was on Dec. 6. when Alan Green- 
span, chairman of the Fed, suggested 
U.S. assets might be overvalued, spark- 
ing a global sell-off. 

Elsewhere in Europe, France’s CAC- 
40 index fell 2.54 percent, the biggest 
one-day drop in 15 months, amid con- 
cern that slower growth in the United 
States will crimp sales at companies 
reliant on U.S. earnings. 

Spain’s IBEX index fell 2.64 percent. 
Germany's DAX index fell 1.38 per- 
cent, and Sweden’s OMX index fell 
1.37 percent. 

In Hong Kong, meanwhile, the Hang 
Seng Stock Index lost 1.84 percent. 

See STOCKS, Page 12 


ar 

\ 


A 


u l.l.HUiE: 

, llti 


Vf 


ll 

:* • 


U 






Sustained Profit for Technology Firms 


By Lawrence M. Fisher 

New York Tunes Service 

SAN FRANCISCO — White thou- 
sands of American companies struggle 
to eke out small profit increases, as toe 
United States rests in a trough of steady 
but slow economic growth, toe tech- 
nology industry has become a standout 

The companies that make computers, 
software and high-tech drags are boom- 
ing. Even better, rising demand and 
increasing exports suggest strong 
growth wfll continue, largely independ- 
ent of tbe overall economy ana, for 
many, even in rimes of recession. 

Tbe information-science industry is 
currently benefiting from a conver- 
gence of technological advances: the 
release of Microsoft Corp.’s Windows 
NT, the operating system awaited by 
business customers; ever more power- 
ful Pentium and Pentium Pro .pro- 
cessors from Intel Carp.; the shirt to 
Intranets, which model internal com- 
puter networks on toe technology of 
tbe global Internet, and new software 
applications that need all that power 
and connectivity. 

At the same rime , the customer base 
has become far more global, white the 
T FnHfiri S tates has remained toe dominant 
supplier. Even toe poorest countries seea 
need to invest, whfle stronger economies 
in Asia and. I -»rin America can help 
halanre swin gs in demand at home. 

“We really do have a profound 
change in our economic model, from a 
mass-produced, consumer-based 

economy to a global, technology-based 
economy,” said Michael Murphy, 


publisher of the California Technology 
Stock Letter. 

Medical technology moves at a dif- 
ferent pace from information science; 
product development times and 
product life cycles are measured in 
years rather than months. Neverthe- 
less, growth is still driven by product 
innovation, which continues at a rapid 
pace. A handful of biotechnology 
companies became profitable in 1996 
as their first drugs gained regulatory 
approval, and this exclusive dub could 
mow rapidly in 1997, with as many as 
30 new drugs nearing the market 

Innovative drugs and devices also 
drive double-digit growth ar such es- 
tablished companies as Pfizer Inc., 
Merck & Co. and Johnson & Johnson. 
Since one new drug for a major disease 
can rapidly generate $1 billion or more 
in revenue, toe growth potential here is 
enormous. 

Analysts say that if growth slows in 
1997, there would inevitably be some 
reduction in capital outlays, but history 
shows that most companies continue to 
invest in new technology because it is a 
strategic asset. Suppliers with hot new 
products can thus main t ain growth 
even in a recession. 

“Tbe deployment of information 
technology mfras tiuctar e is a solution to 
becoming more efficient,” said Thomas 
Thornhill, director of technology re- 
search at Montgomery Securities. 
“Companies toat rat! to invest thro 
toe down cycle will emerge in a rdativ 
weaker position on the erther side.” 

A new breed of corporate software 
applications that can help increase 


sales has proved especially compel- 
ling, according to Mr. Thornhill. Those 
applications in turn have driven sales 
of larger computers, as well as new 
operating system software and net- 
working equipment 
In addition to product cycles, eco- 
nomic, political ana demographic shifts 
are driving growth for technology 
companies. The transition to an econ- 
omy based on information and com- 
munications from one based on man- 
ufacturing means even small companies 
can address a global market 
Roger McNamee, a principal in In- 


tegral Capital Partners, said the United 
States now faced an opportunity un- 
matched since 1 946, when its powerful 
manafactorring base supplied toe re- 
building of Western Europe. 

“For a long time, the politics pre- 
vented you from selling to a lot of coun- 
tries. even if they wanted to buy,” he 
said. “Now every country is on a market 
economy, and they needmfrastiuctnreto 
attract capital. You find Third World 
countries patting in wireless telecom- 
munications syste ms often before they 
put in running water and roads. 

‘ ‘We’ve gone from being able to sell 
to one-third of tbe world to selling to 
everybody." Mr. McNamee said, 
adding, “I believe technology will rise 
to about 15 percent of gross national 
product, from about 8 or 9 percent 
now.” 

Young customers will also lift tech- 
nology sales, he said: “Everyone in 
college today was bom after the Apple 
n shipped; they don’t know a world 
without computers.” 


CURRENCY & INTEREST RATES 


Cross Rates 
s 

Amsttnfem 03 
bmmii a* 
UOT 

tbo IM 
Madrid OS 

Mta IStete 

NmvYbft (b) — 

Paris me 

THy> 

IW 


Jan. 2 Ubki-Ubor Rates 


U2BS Ufll 
SUSS 3BM 
1CTU — 

. — um 

BUM SCW 

1SH5- WUO 
um ucs 

UR 13716 


FJE, Ur OR 

u» aiwr — 

UW MMT1USB 

UKt orair ssn 
uKasfius zst 
um s or 7HK 

BUB DUO 

UM 1£US 1JHJ 
_ Uti* UM 


ELF. 

IM 

SUM 

um 

sum 

3U9 

LIAS 


if. yw a PaxM 

■ MSB MB' 1JBK 13B" 

Sits 8270 2USS 3UDS' 
1 LUU U 3tr 1J27 USD* 

£271 NSflU 130 VBSBt 

nsn U24U- urn — 

1,1 SMS U13* LUUS IMS 
iM ms um uus 

SAM 4J0SS" UB uo- 


Dattar D-Mmt Prone Simflag 
1 -month 5*1-514 2*0-3** 14%-TOi 6U-&U 3U-3H 
3- month 5*0-510 240-3U IVo-190 644-6M 3U-3M 
6-month 5V4-546 2V0-3W IV*- 14* SW-6* 

1-jmar . 5V0-5*tb 3V0-3V0 7-m 


Jan. 2 

Fraoch 

Yob ECU 
¥ 0 -Vo 4 VO- 4 VO 
4 V 0 - 4 W# 
3 U- 3 U » 0-*0 4 V»- 4 V 0 

3 M*-»* 14-44 4 V»-«V 


Scorns: Revterx Uoytte Bank. 

Rates eppBoaUa to Interbank deposes o/S) mBBoa minimum for njulVafenfl. 



23JS3 UR 8266 MW* yaB Um " — “*! 

S' 3S 3 SS £5 Tt IS S5 

Loadon. MUm New Yorit and Zurich. Mngs bt other centeix 


Itmnvn - " 

Other DoHar Values 


ArpalpK • own GRCkttRC. 

MMnS 12636 RgagKft^S 

Austria sen. Hafrfort** 

Broad rod WB9 tedmmfaa 
Odour man tUSW UUo-upM* 
CzKUksraa 1 «4 . . 

Danish kraae 551* W***- 

can*, imoad 3JS2 

4j& 5*& Mdar.iftfr 


PtrS 

24X28 

7.7345 

164*3 

3S87 

23025 

04033 

12462 

030 

£5265 


Camay 
Max. pa o 
M.ZMlaadS 
Mom. knar 

PM. pun 
PoBsfciMy 
peri, escudo 
RM>mMa 

sao drfyaf 

349-3 


Pers 

7.885 

v» 

04003 

2030 

£87 

15457 

5747.13 

£7505 

1J9S5 


Currency 

S. Alt. road 
s.Kar.am 
swri-knoa 


Thai bafet 
TUfttABra 
UAE Arina 
Venn. i»». 


Pa* 

AH0K 
RA1 W 

64664 

27.49 

25JD 

1B7775. 

3672 

475J5 


Forward Ratos 


1JBZ3 Ufflo urns S-SZT 

« UM 13(60 1.3633 Sods**™* 6 

15420 1-5*0 1-5369 


3MB» AHW 
M5A4 114-79 UAH 
13421 1-3383 1.3341 


Sank 

aassaasa^ 


Key Money Rates 

uonusicm Com Pro* 

HKOflURdO SM 5M 

Prim* rat* . Stt su 

PMonSfcq* 6-00 5H 

today CDs deafen 5X5 541 

IM-rtoy CP iM*re 5J7 £30 

JranTMMTHI SJOS 5JD5 

1- yoar Treasury HO £3T £22 

2- yen Trmuybn £94 £ 87 

S-ytO' Treasury onto 628 621 

7-year Traamyure 628 62? 

19-TW Treasay Jrte 652 642 

38-yoor Treasury bond 674 644 

MsrriO lynch 30-dny AA 495 495 


050 050 

OWL 043 

- 053 
056 

- 0 JS 6 
£77 

450 450 

115 £00 
3.15 . £15 
3-15 115 
3.1 B £18 
557 5J8 


Biteln 

Bank ban rale 
caa aoaey 
iHnoMti UrioitMBk 
3-aaatti iBtartHok 
fi-morii totatoBk 
redrew sit 


£00 650 

6 VU 6 M 
GVh Wm 
6*4 

6 Vh 6*4 
744 743 


DtKouri rote 

O* money 
l^inoi 
SuarettfeMaak 
<4Mdtahriatt»ak 
loyeor Oavt bond 


I f nm ti oB itde 
CeOreuey 
luoetti tatartmk 
XMoth hmrtonfe 
6-mooth tetertoU 
1 ►rear OAT 

Source* Rnrtsnfc . 

Lyneti, Bonk et Tokyo-MlfsubitM* 
CarmefjtxmK CiedO Kyomah. 

AJW. PJ*. dr'oe 


£15 £15 

3Vc 314 
3VH 344 
3V» m 
34* 344 

525 556 

MenBI 


Irate .. 
M oo ney t ^ 

1 Hear Band 


LMdM 36720 3 6£B — £00 

H*w York 36920 36640 — £60 

UAdoBaa per ounce. London oriKial 


tmdctealng prices New Yoitt 
Scarce: Redas. 



U.S. Executives Alter Tactics: 
Revenue Growth Is New Goal 


T™ Shsfli-rfJV V. 1<iii Tin 

Du Pout’s optimistic John Krol. 


By Judith H. Dobreynski 

, New York Times Service 

NEW YORK — If the US. stock 
market of the past few years has been 
looking like the hare in Aesop’s fable, 
sprinting jauntily ahead, the real econ- 
omy — of cars and computers and health 
care — has surely been the tortoise, ad- 
vancing steadily and slowly. 

But the next 12 months, chief ex- 
ecutives around toe United Stares say, 
may turn out to be the year the tortoise 
has its revenge. 

“The market is what scares me." said 
William Steere, chief executive of Pfi- 
zer Inc. “We're cautiously optimistic” 
about the economy. 

Like Mr. Steere, chief executives in- 
terviewed recently said they believed the 


economy would keep plodding along in 
1997. They agreed wito economic fore- 
casts pegging growth at around 2 3 per- 
cent. maybe as high as 3 percent. 

They have few worries about a re- 
cession — even though toe current ex- 
pansion will mm six years old in March, 
becoming one of the longest postwar 
recoveries. 

“Expansions don’t die of old age,” 
said John Krol, chief executive of Du 
Pont Co. ‘ ‘They are killed by shocks and 
imbalances, like a stock market crash, 
excessive inventories or high inflation.” 

With inventories under control and 
inflation in check, it would probably 
take a crash or a surprise external shock 
of toe magnitude of toe oil-price in- 

See OUTLOOK, Page 13 



CURRENCY AND CAPITAL MARKET SERVICES 


Cal! today for yourcomplimentary copy of my latest research reports, 
market opinions and performance records. Learn how you can put 
my 19 years of professional trading experience to work directly fory ou. 


Illlll 

FCM 


OUTSTANDING Analysis for AU MajorMarkets 
EXCEPTIONAL Execution Forex or Futures 
COMMISSION SpotFX 2-5 Pip Price Spreads 


SUPERIOR Selection of Managed Accounts 
FREE Trading Softwares. Data 

COMMISSION Futures $1 2- $36 Per R/T 


Prepare for Tomorrow’s MaiorMarket Moves bv Callin 


Australia 1800125944 
Cyprus 03080805 
Crrmaaytn 308296S6 
Jopmn 0031 126609 


BelglMai 08001 5880 
Denmark 80016132 
I fang Kong 8007209 
Korea 0038110243 


Bermuda 1B0O8784178 BrazU 0008119215513 
fiHianrfOB001110Q64 ftanrrOB00902246 
/rrftw41B0055B294 lirarl 1771000102 
Luxembourg 08004562 Mexico 95800B7B417B 


Peter G.Catranis 
Fores & Futures Specialist 


Colombia 980120837 
Ureter 00800119213013 
Italy 1 67 B7S928 
Netherlands 0S0Z206S7 
■V_ l/riea 0BOO996337 


N„4niillr* 1 8009945757 .V.Zro/j»rf0800441B80IVrrii««/050112632 Singapore 800 1202501 
Spain 900931007 • .SWrirn 020793158 Srin refund 0800 897233 Thailand 001800119 2306 6 6 Turkey 00800139219013 

United Kinedom 0800966632 t'mii-45Jarr.1B0099457S7 rS-TV^n 'oicy +714-376-8020 rS-rpl/Fa.v-»714-37B-8025 




International Foreign Exchange Corporation 

THE RELIABLE PARTNER 

SEE US ON NBC TEXT PAGES 355 & 356 

Discounted commissions - 24 hour trading desk 
Internet site: www.ifexco.ch - Reuters page 1FEX 

B6 bis routs do Frontenax- 1 208 Gsnsva- Switzerland 
Tel {41) 22 849 741 1 - 24hr (41) 22 84© 7440 - Fax (41) 22 700 1913 


I BEVERLY HILLS 

os&nentMi 

hwofeiK 

effctentfT 
why the 
bankers 



investment Manager Stua/r Chauss&i oflera U.S^and non-U. 
InvestnenEihe exper 


i experts .recommend. "... brtBant. 
jrST*- Jonathan Clements. Wid 
r these Investments 


tax- 

Leem 


ovaMrle 
review, v 
3103/3.1 



REHDER & PARTNER AG, ZUG - Switzerland 

SENNWHDSTKASSE43 - 63125TEINHA11SEN 

FOREX 

Managed Accounts 
Please contact: 

s Martin Gloor.TeL 004 1 41 7400022 - Fax: 004! 41 7400029 ss 


Your 'one stop' 
Brokerage connection 

tothe wofKTs 

Futures, Options 
ft Forex markets 

T ear «' r < ! 

Lmnco 

Umm buupa Ltd . ■■aiil.WH by iW 6H> 

BWbMH 

3 



SUCCESSFUL FUTURES MARKETS 
PORTFOLIO MANAGEMENT 
HIGH RETURN LIMITED RISK 
NO MINIMUM PERIOD OF INVESTMENT 
PROVEN TRACK RECORDS 
ASK FOR A BROCHURE FREE OF CHARGE IN 
ENGLISH OR IN FRENCH 
GOLD HILL SERVICES SA 
RUE DE BOURG 6,1 003 LAUSANNE, SWITZERLAND 
TEL.(41.2I) 320 58 3 1 FAX (41.21) 320 58 35 
PORTFOLIO MANAGERS AND BROKERS SINCE 1982 
MEMBER OF THE NEW YORK FUTURES EXCHANGE 


for further details 
on bow to place your ttsting contact: 

WILL NICHOLSON Hi London 
TeL- (44) 1 71 836 48 02 -Fax: (44) 1 71 240 2254 
Brral hlaSal gribnnc 











PAGE 12 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


THE AMERICAS 


• ■ 30-Ye.ir T*Bond Yield 


A s 

1996 


Close 

The DOW 6442.49 

5&P500 737.01 

S4P100 718.46 

Composite 38933 

Masdaq Composite 1275.03 
Market Value N. A 

TSE Index "5904.31 


D J 
1997 

% 

Change 
6442.49 6448.27 0.09 

737.01 740.74 -0.50 

718.4 6 719.98 -0.21 

38933 392.30 -0-71 

127S32 1291.03 -1.34 

N .A. 583-2S 

590431 5927.03 -0-38 

69555.40 70399.50' -t.20 
3359-46 3361.03 -0-0S 

639.30 64937 -135 

4911.56 4902.59 *0-18 

6837.05 6690.06 +2.20 

Intunulimal Hu'nkl Trihunr 


Exchange Index Thursday- Pnav. % 

Close Close Change 

MYSE The DOW 6442.49 6448.27 -0.09 

NYSE S&P500 737.01 740.74 -0.50 

NYSE SAP 100 718.46 719.98 -0-21 

NYSE Composite" 38933 392.30 -0.71 

OS. Nasdaq Composite 127532 1291.03 -1.2 4 

AMEX Market Value N .A. 58328 

Toronto TSE index 590431 5927.03 -0-38 

Sto frame Bovespa 69555.40 70389-50 -1.20 

Mexico city Boisa 3359.46 3361.03 -0-0S 

Buenog Aires Merval 639.30 649-37 -135 

Santiago iPSA General 4911.56 4902.59 +0.18 

Caracas Capital General 6837.05 8KX>.0t5 +2.20 

Source: Bloomberg. Reuters hmjiMul H«u Tnhune 

Very brief lya 

Apache Signs Gas Deal in Egypt 

HOUSTON (Bloomberg) — Apache Corp. said Thursday it 
had signed a contract to supply natural gas valued at $ 1.2 
billion to Egypt's national gas system over 25 years. 

News of the contract with Apache and its partners helped 
buoy Apache's shares, which rose 87.5 cents to $36. 

Apache said Egypt had agreed to buy gas at a price tied to 
fuel oil and to Gulf of Suez blended crude oil under the 
contract that begins May 1. 1999. 

Clayton Buys Stake in Kinko’s 

NEW YORK (Bloomberg 1 — Clayton. Dubilier& Rice Inc., 
a buyout Firm, said Thursday it had bought a 30 percent stake in 
Kinko's Inc., a chain of copy shops, for S214 million. 

Clayton Dubilier bought Kinko's with a plan to change the 
company from 130 separate units to a single business able to 
expand both in the United Stales and overseas. The purchase 
was the buyout firm's second-largest single investment after 
previously buying Riverwood International Corp. of Atlanta 
for $225 million. 

• J. C. Penney Co. said it would take a fourth-quarter charge 
of $175 million to $200 million for costs related to its recent 
acquisitions of drugstore chains. 

• Ameritech Corp. became the first Baby Bell regional phone 
company to seek approval from the Federal Communications 
Commission to offer long-distance phone service under a new 
law that went into effect last February. 

• Wachovia Corp. agreed to buy a controlling stake in the 
Brazilian unit of Portugal's Banco Portugues do Atlantico 
SA, its first venture into Latin America. 

• Chrysler Corp. said it sel a record in 1996 by selling 2.4 

million cars and trucks in the United States, up 8.6 percent 
from the previous record set in 1988, and that it hoped to 
double its vehicle exports from North America, which totaled 
250,000 in 1 996, within three years. BUvmbrr^. ap. Reuters 


A Year-End Burst of Growth 

U.S. Economy’s Strength Stirs Inflation Fears 


STOCKS: Dow Slips on Rate Fears 


CVwipbJ Our Stiff f-mt [hyunhn 

NEW YORK — America's 
manufacturing economy grew 
more rapidly than expected in 
December, according to the latest 
of a recent series of data showing 
surprisingly strong growth that sent 
a shiver through financial markets. 

The National Association of 
Purchasing Management’s survey 
of executives, widely followed as 
an early indicator of the previous 
month’s performance, found that 
the manufacturing economy accel- 
erated in December. 

Its index of manufacturing 
activity rose to 54.0 in December, 
the highest in six months, from 
52.7 in November. 

A reading above 50 points in- 
dicates growth in manufacturing, 
while one below that level indi- 
cates a contraction. 

“The manufacturing sector 
grew more rapidly in December 
than in November, with new orders 
indicating faster rates of growth 
and prices moving upward,” said 
Norbert Ore. who directs the 
group's monthly survey. 

The report, the first major in- 
dicator of the new year, had been 
widely awaited in financial mar- 
kets. Private economists had ex- 
pected a reading of 5 1 .5 for Decem- 
ber. and the actual data pointed to a 
possible pickup in economic 
growth that could lead to accel- 
erating inflation and higher interest 
rates, analysts said. The group's 


index stood at 34.3 in June. 

The group said its index of prices 
paid rose io 51 5 last month from 
45.9 in November, indicating rising 
prices after two months of declines, 
it was the highest reading since July 
1995, when the index was 59. 

So far. most price increases 
have been absorbed by manufac- 
turers and retailers instead of being 
passed on. helping to keep con- 
sumer-price inflation tame. 

December was the eighth month 
in nine in which the purchasing 
managers’ report showed an ex- 
panding manufacturing economy, 
it was also the 11 th consecutive 
month that the index indicated the 
overall economy was growing. 

“This report says there are a lot 
of other things going on that are sti U 
pretty positive,” said Raymond 
Worseck, chief economist at A.G. 
Edwards & Sons Inc. in Sl Louis. 

Many economists had been ex- 
pecting the overall figure to drop 
slightly from November's strong 
showing. That would have come 
amid early holiday shopping re- 
sults suggesting less than a banner 
season. 

“Purchasing executives’ com- 
ments on business conditions in 
December were even more pos- 
itive than their somewhat bullish 
comments in November.’ ’ Mr. Ore 
said. 

In addition, the Conference 

Board reported Tuesday that con- 
sumer confidence rose in December 


to its highest level in seven years. 

Also Tuesday, the Commerce 
Department reported that new 
home sales staged their sharpest 
increase in three and a half years. 

The Conference Board reported 
Thursday thai its help-wanted ad- 
vertising index rose to 85 in 
November, up three points from 
October. The index is based on a 
survey of belp-wanted advertise- 
ments in 51 major newspapers 

Still, there are signs of mod- 
eration in the economy. The Labor 
Department reported Thursday 
that first-time claims for unem- 
ployment benefits rose to the 
highest level since summer. 

Initial claims for jobless benefits 
rose 22,000 to 366,000 last week, 
more than die 6,000 gain analysts 
had expected, the department said. 

Early reports from major retail- 
ers also showed that the Christmas 
shopping season was not as strong 
as many had expected. 

J.C. Penney, which had strong 
sales for much of the aninmn said 
comparable-store sales for the four 
weeks ended Dec. 28 rose just 6.2 
percent from a year earlier, and sales 
for November and December 
climbed just 4.5 percent. 

Com parable- store sales at 

Dayton Hudson rose 4.2 percent 
from a year earlier, with sales at the 
company’s Target discount chain 
gaining 7. 1 percent, while sales at 
department stores rose just 0.3 per- 
cent (AP. Reuters, AFX) 


Continued from Page 11 

The U.S. economic reports also 
pulled European bond prices 
lower. 

On Tuesday, the last day of trad- 
ing before the New Year’s holiday, 
the Dow industrials tumbled 10L10 
points, or 1 54 percent, after three 
economic reports showed buoyant 
consumer confidence and strength 
in the housing and manufacturing 
industries, sending Treasury bond 
prices sliding more than a point. 

Non -U.S. companies with signi- 
ficant activities in the United States, 
including Glaxo Wellcome. British 
Petroleum, Rhone-Pouleoc and Ac- 
cor, led the dectiners in Europe. 
Shares In b anks and insurers, in- 
cluding HSBC Holdings, Lloyds 
TSB Group, Compagnie Bancaire, 
Credit Commercial & France and 
Allianz, also were lower on concern 
that rising bond yields could erode 
profit margins. 

“People are looking at profits and 
wondering whether the U.S. bull run 
can continue,” said Jean-Marie Le- 
grand, a fund manager at Interna- 
tional Capital Gestion. 

But some analysts said the sudden 
malaise afflicting U.S. stocks was 
probably exaggerated by a holiday- 
thinned market, and a rebound was 
generally expected to occur soon. 

“1 think you’ll see the stock mar- 
ket rebound in a big way,” said 
Robert Froehlich, chief investment 
strategist at Van Kampen American 
Capital. “You’re sitting here in Janu- 
ary, when a lot of 401(k) money is 
available. This is going to be viewed 
as a classic buying opportunity.” 

Declining issues outpaced advan- 
cers by a l8-to-7 ratio on the New 
York Stock Exchange. 


In the computer-retailing sector* 

CompUSA , the most active NYSE 

US. STOCKS ’ 

issue, plunged 4% to 16. The com- 
pany skid its same-store sales rose 
only 1-5 percent in its second 
quarter, which included die holiday 

season. , 

Other computer-related compa- 

jffSS’KSKX 

67 Wlass fell VA to IVA after the 

Internet software-maker said its 
first-quarter loss would be wider 
than expected. Spyglass, a provider 
of technology to make de vices work 
with the World Wide Web, said it 
had been unaWe to determine me 
amount of royalties due from Mi- 
crosoft because it had not received a 
report on how many copies of to- 
temet Explorer had been distributed. 
Microsoft licensed Spyglass soft- 
ware to use in the Web browser. 

Banking and other financial is- 
sues, which have a smaller profit 
margin on the money they lend 

When interest rates rise, were among 
the session’s weakest groups. 
Barnett Banks slipped VA to 40. 
ftiaw Manhattan fell % to 88 ‘A. 

Investors also pummeled retell 
shares, which reported modest gains 
for December and the fourth quarter 
in stores open at least a year. The 
two big department-store chains that 
reported their holiday sales were 
down sharply. J.C. Penney fell Vs to 
47 % and Dayton Hudson declined vi 
to 38%. 

(Reuters. Bloomberg, AP. 

Bridge News) 


DOLLAR: American Exporters Feel Pinch of a Stronger Currency as Rivals Undercut Their Prices 


Continued from Page I 

nipulating their exchange rates.” 
He said Japan as well as Germany 
and other European countries, es- 
pecially France, hoped to bolster the 
dollar as a means of stimulating 
their own economies by making 
their exports cheaper. 

The dollar already has rallied 
nearly 14 percent against the mark 
from a record low of 1 .3534 DM and 
45 percent against the yen from its 
low point of just under 80 yen. 
clearly reducing a competitive ad- 
vantage for U.S. companies. 

If the dollar moves higher this 
year. U.S. companies could try to 
press Mr. Clinton’s administration 
to help them oul The National As- 
sociation of Manufacturers is fore- 
casting a decline in the value of the 
dollar, but Mr. Jasinowski said he 


saw “considerable risk on the up- 
side.” Many Wall Street forecasters 
expect the dollar to rise at the be- 
ginning of 1997 but fall enough later 
to finish the year lower, easing the 
pressure on U.S. companies. 

That is tire case at Goldman. Sachs 
& Co., where economists forecast 

FOREIGN EXCHANGE ~ 

the dollar to be at 105 yen and 1.45 
DM at the end of 1997. The move 
down, they say, will be propelled by 
a rising U.S. trade deficit and an 
increase in the outflow of U.S. cap- 
ital as other countries’ economies 
begin to pick up in 1997. 

But Jim O'Neill. Goldman's 
chief currency economist, said he 
now expected the current strength of 
the dollar “will remain longer.” 
taking the currency to 1.60 DM and 


allowing it to hold at 1 16 yen early 
this year. 

The chief economist at Salomon 
Brothers Inc., John Upsky, said the 
dollar might not move much in 1997 
but was poised to rise over the next 
several years for two reasons. 

International investors, he said, 
still have higher inflation expecta- 
tions for the United Stales than they 
do for Germany and Japan, and 
those expectations depress toe dol- 
lar. But this perception would be 
likely to change, he said, if toe cur- 
rent moderate rate of U.S. inflation 
continued. 

The second force is the expected 
build-up in Americans’ savings rate 
as individuals invest more for re- 
tirement and the government moves 
to cut the budget deficit 

Michael Rosenberg, head of in- 
ternational fixed-income research at 


Merrill Lynch & Co., forecasts that 
toe dollar will rise this year against 
both the yen and toe mark and con- 
tinue to rise thereafter. By the end of 
1997, he forecasts rates of 120 yen 
and 1.70 DM. 

He reasoned that in Japan and Ger- 
many — as well as most of toe rest of 
Europe — central bookers will keep 
interest rates low while governments 
cut spending in Europe and raise 
taxes io Japan to bring down their 
deficits. Such a policy mix, he said, is 
a prescription for a weaker currency, 
which means toe dollar would rise. 

■ Dollar Finns Against Pound 

The dollar was mixed against oth- 
er major currencies Thursday, but it 
staged its biggest rally in almost a 
month against the pound after a re- 
port on a slowdown in British man- 
ufacturing suggested that Britain 


might delay raising interest rates. 
Bloomberg Business News reported. 
The dollar declined against the yen 
and ceded early gains against toe 
mark after a report showing unex- 
pected strength m U.S. manufactur- 
ing weakened bonds and stocks. 

The pound fell after the Chartered 
Institute of Purchasing and Supply 
sa i d its index of manufacturing fell 
to 52.5 last month from 54.2 in 
November, a sign that British fac- 
tories were expanding more slowly. 
— in part because the strength of the 
pound is making their exports ex- 
pensive. The pound dropped to 
$1.6938 from $1.7 130 on Tuesday. 

The dollar rose to 1.5435 DM 
from 1.5410 DM but fell to 1 15.65 
yen from 1 16.00 yen. The currency 
also was at 13470 Swiss francs, up 
from 13415. and at 53040 French 
francs, up from 5.1940. 


Mill 


■ •+* v 

... 1-5. 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Thursday’s 4 p.m. Close 

The lop 300 most-acme shares, 
up do (hs dosng on Wall Stwc 
The Associated Press 

idt Soles HOT Uw Latest Owe 

AC W> in. 14* MV, 

ACPI W >H 

tC 434 4 3>i 4 

iaaf at w a m m 

nFd IH DVi Bin Rl, 


lUi -W 

4J, -J. 


Soles Hah Lwlhw Owe 

*47 l/H 16H ItH -V. 

436 tit, 4* 6 H + H 

1008 0"'., BY,, »H -V» 

W SO D 


4 -’.V 

IP* -I 

US 


307 

I3H 

12 H 

13 

— w 

118 

«W 

6 H 

6 M 

-*/. 

109 

4 1 V„ 

4X> 

4>S m 

+ H 

3604 

Vf, 

fM. 

*"u 


n 

11 

I 0 H 

10 H 

-H 

104 

6 


7H 


75 

*„ 


> 

•Vi, 

444 

15V, 

14H 

I4H 


171 

5H 

5H 

Vu 


646 

PVw 

S”i 

9> u 

— it 

790 

1 <* 

IH 

IV.. 


79 

23 1 * 

ran 

73W 

_ 

391 

I'/k 

1 H 

IH 


a* 

I 6 "» 

16H 

16V U 


124 

in 

101 ’.U 

101*4 

-v» 

161 

2 H 

IM 

, 2 H 

-*b 

234 

30’* 

1VM 

19H 


90 

1 % 

JJi 1 * 

I 1 * 



A ~ 


tin -<5 


14 -H 

a -v, 

14 

IH + H 
W„ — v* 
13V. -H 
3* 

41* ->■„ 
Z3* —44 
t4H + H 
2SV: -<h 
JJH -V, 
lan — v, 
13*4 


g — £ 

IIV4 -W 

044 

3Vt - >■„ 

r*,, » •* 

I V. — '/u 
I — V- 

<H — *4 
I v. -V* 
-V, 
I3'» -H 
6 IJ .„ 

314 -’A 

uv» 

Ills -to 

1*4 -14 

34 -v. 

0*Vto _ 
«'Y h * ■* 
4 -V, 

0*4 

Vl» — 

JH. —Yl. 

**» —V. 
Ms -*u 

18"; + H 

3JH -*V 

, 8 * -UJ; 

6<V„ - S 

4W .4, 
[OH —Vs 
574, 

32* 

rv -I/.. 

3*1. — v.i 
9'i t — v,i 

IS 'll'.. 

Si. 

3'-.. 

6 H • 
1314 — H 
?*« *1 
IS'-. -'I 

3714 —I 
MS -H 
I. H 
11*4 

T. -H 

Is, i 

II 

IH . -4 


r, 7'-, 

If» Jt, 38 V. 

3*4 l'l 1*4 

y. 7i. 3*; ¥,. 

2« ** M** 7S - 1 >• 

IB l.'to UV4 — *4 

J . 7-4 7V. 

r-., i»», H', — 4 % 

n-, 1‘-. Vi, 


uereeh 

LnzKtm 

LcHKWwl 

AAAI Sirs 

AACSW 

AASBBCD 

ABowiPe* 

MoxfrnPftn 

Maxam 

AtalcK 

Medffvo 

AAetfo 

AAedioLaD 

AAedq 

Matromdo 

MchAra 

AIMfflRtY 

MorgnF 

MSN* 47*1 

fwVrttruoE 

Mo w9r 

Mimiln 

V-unWUon 

! AAWTVSl 
I Mverctnd 
NTNCBm 
NVR 
NPxn 
NtPamt 
1 Hf Tines 
NA Voce 
Navavt 
OnwsMoU 
Oncer 
Orongn 
PC Quota 
PGfcCcnrt 
PLCSvS 
PMC CT 
j PtmAmCn 
PaunC 
| FWG« 
PecpieTei 
I PertnC 
HuNuf 
PnoneW 
PitDwn 
PtnRjc 
Foivmed 

PsIVBh 

ProdLti 

PreCm 

Pricpils 

ProoCT 

PumCA 

PlBNY 

PFPow 

PeoGrfd 

RraaiBei 

Rraer 

Rw«g 

SetoPets 

SooeCmv 

SPcOom 

3iefOM0 

ecSofeen 

SooIkJT n 

5POR 

SPAM 

yeens*, 

SfcvIrtA 

SjWAIM 

Sulcus 

SumlTi 

TnbPrd 

Tecne 

TelDtn 

To*6N>Ct< 

TB*aw» 

TesAAer 

Thenwtd 

ThCCff 4 

Thrmsl 

TMnoOon 

Thrtona 

Thrmsl 56 

Ttmaitn 

Thrmolx 

TooSfce 

TollPct 

TownChr 

TWA 

Tmyrrrt n 

Tre.AAal n 

Trrfon 

TchAAtr 

VTVEno 

UnJMrt 

UrtlaD 

lfo*nar 

UnaMfil 

US Biowl 

USBmkos 

US Coll 

UniWV 

V»5dS 

VKNJV 

Viocam 

voce 

v.ae*«C 

Vo: wiE 

v»a> 

/■JcGa 

WRIT 

YftKrd 

wtftET 

wiulmEs 
WirelnTv 
WEBG«rii 
WQWn 
WEB lion 
iVEB Sinon 
WEB Son n 
VCL LU 


1 W -U 

7U **u 
1 *» -H 
5*4 — H 
11*4 

31 W -'4 
11*4 — H 
3*4 -Yu 
S .H 
10 — *4 

I0VS —V, 
5 **u 

2 , 'i 

6*4 *'4 

10 —1*4 

M -VS 
3% 

14*4 — *4 

7'/. -*H 

0V» — l’„ 

<"l* — Yl. 

10H . *4 

— ta 

47*4 

'OH — *4 
Zf*s — *4 


7H . 11 *, 
37*4 — H 
MW +*. 
3H — v„ 

2 H 

JW — >4 

SIH —IV, 


BVi* ♦ Vi, 

n, t — H 

• *Y» 


3H • 'hi 

17*4 — *4 

04 b 


3W. —4.. 
H 

19 -W 

IV, -H 


4‘Vu 

-i/^ 

1H ■ *4 
1*4 . 

2V» 

11*6 

5H 

14*4 

36H — V, 
S'u — Yu 
*4 *U U 
14H -*4 
17* — H 
7»S — *4 
33'.* rl4 
121, . H 

I2H 7H 
15** —'4 

13*5 - H 

27H _ 

m -is 

10'/. — V, 

*4 

4*4 •*„ 

13S 

13*4 -14 

s 

in* — w 

3ZS* — ?«. 
fVu 
v> -Yu 
’ y <* 
»U —*’4 

AH . '.4 
13*4 ■** 

Jtv, — *4 
7*4 — v* 

10*4 — v» 

1?'* .*4 

JIH -V. 
36*4 -’u 

13*4 — *4 


17*4 — >4 

«V4 — -4 

13 

tfu — I Yu 

II >1 

MU — >4 
I5H -V. 
I4H _*■ 

11 "-',. ->'u 

17*4 —li. 

'•« • H, 


Indexes 
Dow Jones 


mous 4A41J3 *46066 635303 6442 69 —430 
Trons 2249 JO 225639 271633 322207 —3160 
Uhl 233J3 2310* 230.99 —13* 

CwnP 202607 303042 199534 31I5JK —103V 

Standard & Poore 

Hfeb Low Close 09. 
Industrials B7Z41 B5773 B64.W -SOS, 

Tronsp. S39.67 529.19 5 3U3 

Utmties 199JI 196.18 197.11 -1J0 

Finance 81 S3 79.89 0075 —0.96 
SP 500 74201 729A5 73701 — 3.73 

SP100 722.94 71072 71146 —1-52 


Kah low Lost are. 

CemeasRe 39199 30634 38933 -277 

Industrie)* 49S42 «7J0 49135 -206 

Transo 35230 3*3* 3*7.15 -515 

UWtY 25*35 255.96 25804 -0.97 

FHta 35170 3*3.97 3*6.63 —43* 

Nasdaq 

HWi Low Lost On. 

ComoosOe 12902? 1274.16 127502 —1601 

mdmtriet* 110709 10*423 109567—1196 

Bwt5s 127902 12*193 126414 — »J2 

tnuinree i*6409 i4*iri 14*3.11 —2232 

Finance 1589 J7 1571 .as 1573.72 -21.10 

Tnstso. *0367 8*2.07 096.15 —9JB 


Most Actives 
NYSE 

via Mgft 

CmpUSAs 92260 2PW 
QnpAsc 5 79496 50*4 

AT&T* 77253 *7*4 
WstaH 56369 30 
GnMew 45313 
GenSec 4505* 99 
IBM <1B3S 154*4 

PepsiCo* 41*13 3D 
FstPolOS 38616 36*4 
WalMort 36*1* 23*4 
AutoZone 35M> V 
Cocoa* 35741 52H 
NCRCPn 35201 J4H 
Theres 33*77 409, 


Jan. 2, 1997 


1SV, 16 
45V, 46 

* 1*6 * 1*6 

19*4 20 

5J*4 58*6 

9SH 07H 
1S0W 153H 
29*6 2»»1 

35*4 35*4 

22 V, 221k 
25*6 25*6 

5114 S1H 
32V, XPh 
38*4 39*4 

iob um 


Nasdaq 


IWrtCmi 

cwtcois 

SunMKs 

USRtWs 

Micrusfl* 

Chens 

oraaes 

3Com 

Infcmi. 

ZBWs 

biWwr 

Ana 

TeKComA 

COK 2000 


VoL Kah 
121*57 132 
11*663 2*H 
90139 53'j. 
06*91 TTH 
ram tih 

#7956 03*4 
60702 6JH 
40375 42 V, 
47027 73*4 
43620 21 Ik 
42637 50*4 
<1*0* 93 
30573 337/1, 
36916 13H 
3434* STi 


130*4 — »u 

26*6 

51% — l!k 

26% *1Vh 

STi. —4% 

At *4 —I 

UH — *4 
42 -% 

72H -1 

20*4 4% 

50*4 *5* 

* 2 H — *4 

33 4Vu 
11*6 

51*4 — 2Wu 







VaL 


Low 

Last 

♦ v„ 

Noi avaSabte at press time 


SPDR 

18117 

74H 

JTH 


- ^ 




VHxfl 

10939 

36'4 



— H 

Dow Jones Bond 



COTOcss 

1 lean, n 

vm 

0946 

J6H 

3H 

I5H 

16 





Hot wIB 

7444 

V- 



— 1 

20 Bonds 
lOlffiOties 

Ctase 

10377 

100.12 

OS- 

♦001 

-059 

xa.ua 

GrevOTOL 

HW»S 

6380 

5450 

531 

«9W 

'6 

4*4 

3U 

19H 

J6. 

TV,, 

3VJ4 

IfH 

IH 

'.1 

1*4 

3V« 

tin 

Fit 


10 Industrials 

106^2 


PreCm 

4640 

IH 


Trading Activity 
NYSE 


Nasdaq 


AcfcencM 
Declined 
Uncharged 
Total issues 
NewHitfis 
New Lews 


A«P(M 
Decfned 
Undmoee 
TaM issues 
New KflfIS 
New LOWS 


779 1297 SSSSS* 

i07i 1734 
*91 816 

B*» 3347 

C 202 

Ij 30 IH* UJWl 

Market Sates 


237 355 

313 241 uvee 

170 193 

720 709 f£2L, 

M 33 Nasooq 

4 17 InmiOora. 


1036 2560 

2309 1677 

1404 1512 

049 S7S7 
102 202 

50 196 


461.03 50748 

1164 39M 

461.93 666X1 


Dividends 

Company Per Amt Rec Pay Company Per Amt Bee Pny 

IRREGULAR 0 ■» MS 2-1 

GoHCdaad#ig _ .026 1 2-31 1-13 

ncm, Johnson eJoJm 

n , „^ EaiL Muni Attantape MJDM5 1-M 2-3 

Hondo McGtoefcPn _ J1512-30 12-31 PNC Bonn Corp □ J7 1-13 1-24 

Penn 5q Mutl A 0 .05 1-2 1-31 

INITIAL Penn 5a MulIC 0 J114 1.2 1-31 

IndepHoMn „ J05 MO 1-24 PrwidoilCcs 

TrtaenEnerm 

REDUCED Wlnn-Dfcde Sirs 

o ■» '■» KSSIS 

REGULAR X-RIJe Inc 

HMUll ijm MS 1-31 M Jff .2-31 M0 

BlodCTDCkln MA479 1-15 1-31 . . _ 

Btadrock M 0512 1-15 1-31 omarnot tvcp prc B lmaft nmounl per 

Bleduecfc NAGou M A7 1-15 1-31 StaR/ADfc COBOdlOB fomfa,' 

RAHlyFndBksli O 05 1-17 1-31 m-mmdMp R-qwrtertj: x-smU-sram 

Stock Tables Explained 

Soles figures are unofflclaL Yearly Mgtis ana laws relied me previous 52 weeks plus tire 
current weefc but nrt the tales trading day. Where a split or stock dividend amounting to 25 
percent or mare has been paidltie yeors high- tow rangeand t&ridendare shown fertile new 
stocks only. Unless otherwise noted, rotes of dividends are annual disbunemenfe based mi 
file latest declaration. 


ohuuukA IvcppnrdiBore innwBl par 
statf ADib 94»yaUe ta Condln ftmds; 
m-niunJWjfj maumlertD s-send-aoum 


a - dividend also ewra <s». 


p - WtW dividend, annual rate unknown. 


- b - annual rate Of dividend plus stack dL PTE - price-earnings ratio. 


vidend. 

C - liquidating dMdend. 

CC - PE exceeds 99. 

dd -called. 

d- new yearly bw. 

dd - loss in fire lad 12 months. 


q - dosed-end mutual fund. 

r - dividend dedated orpaM in preceding 12 

months, plus dad* dividend. 

s - slock spin. Dividend begins with date of 

split. 

sb- sales. 


e-dividend declared repaid hi preceding 12 1 - dividend paid in stack in preceding 12 
months, months, estimated ash value on ei-dl- 

I - annual rate, increased on last dedo- vidend or ex-dismbutwn date, 
ration. n - new yecity high, 

g - dividend in Canadian hinds, subject to v - trading halted. 


% 15% non-residence fa*. 


vi - in bankrepicy or receivership or being 


I • dividend dedbred after spIR-up or slock reorganized under the Bankruptcy Act Or 
dividend. securities ossvmed by such com ponies. 


_ i-tfviderd paid Ihayest omitted, deterred or wd- when distributed. 


no action taken at fotedrfrftfcndmrefcig. wi- when issued/" 

k - dMaand dedated or pad this yen* on vrw - wHh warrants, 
occurreitattre issue wOuftridaidsfei turears. x - e*-dhndend or O-righK 

a • annual rote, reduced on Iasi dedaro- xda -evdtahibution. 

Han. m - wtthoul wonanls. 

n < new Issue mihepasi 52 weeks. The high- y- cx-dhridend and sates in fulL 
low range begins wttti the start of trading. ytd -yield, 

nd - next day de&rery. 1- sales in futi. 


High (.aw Oase age Optnt 


CORN CCSOT1 

S4BO bu mrtmum- noBnrs per Hnnd 
IVtar77 L60H iSMv 158V, r-ILOOVk I40J81 
Mayy7 ZS3 159«* HI ,0.nm53J66 

M97 264*4 262(6 262H 54.271 

97 261 IS** 25016 6636 

Pec 97 269*1 257 257*4 37,999 

Est sates NA. Toe's, sales 15J49 
IWsopenM 304^*4 up 1341 

SOYBEAN MEAL (CSOT) 

100 tons- doAan ner ton 

Jan 97 230L00 225.90 22X60 + 230 12693 

MortJ 22250 21 7 JO 221 50 -X40 31606 

May 97 21750 71100 2IAJ0 +140 17J73 

Jul97 216J0 21230 216JD +360 11637 

AUB97 21500 21250 21500 +-4LOO 2377 

Sen 97 21250 7KLOO 71170 +260 2,146 

B ate HA Toe’s, ootes 16,917 
Tue'scpanint 79375 oft 1673 

SOYBEAN OL (C80TJ 
60600 to- dofors par 100 tov 
Am 97 23.05 2260 23.03 +032 8615 

Mar 77 2145 2335 23.42 +038 42,915 

MOV97 2180 2145 2270 +CLCT 14344 

Ail 97 X12 2180 3112 -039 10,133 

AW97 2430 2410 3419 +027 2384 

Sen 97 7435 242D 2431 +832 1381 

Est. sates NA Tue's. sates 21550 
TuB*simeniid 81,981 up 1174 

SOYBEANS KBOT) 

UW bu marVmpn- cbOcrs per buWtol 
Jan 97 7M% 490 699*4 >008*4 15608 

Mar 77 760V] 6J3 698*4 +Q.11 fl],U5 

Wav 97 699 666 690 M21114 27J42 

jut 97 698*4 607V, 697 1 * +0.10^2^365 

AU997 697 687Mi 695 +037*4 1455 

B4 safes NA Tue-s-KAB 415*2 
TueSapenutf UU3I OH 1545 

WHEAT (CBOT} 

UOObu ml ramum- del Ian pw bushel 
MOT 97 391 181 1WV4 +008 30,938 

May 77 169 162 160 *1 -0.07H 6395 

3697 165V: 360 365 - 006% 20343 

Sep 77 369V: 366*5 369 +003*6 992 

Est. sates NA Tue's safes 6,120 
Tue's open in» 59359 up 33 


Per Amt Rec Pay 
a os l-is 2-1 

Q .10 1-22 2-5 

Q .15 1-19 2-20 
Q .19 2-18 3-11 

MJJ66S 1-14 2-3 
O 37 1-13 1-24 
0 .05 1-2 1-31 

Q 314 1.2 1-31 

Q .18 2>28 3-10 
Q 335 12-31 M4 


Q .025 1-15 2-12 
M J37 12-31 M0 


CATTLE (CMER) 

40600 tH-a+pw to. 

Feb 97 65.4] 6475 6480 —0.17 3U19 

Asr 97 65L75 6125 6SJ2 -023 21228 

Jun97 6330 42X0 4190 -025 10696 

AUB97 4197 SLS 4142 -025 9444 

00 77 6177 6562 4562 -030 6340 

Dec *7 66.97 66J0 4077 -008 lltf 

Ed. safes M37 tue's. scOes 13603 
Tue's open ire 86498 up 545 

FEH3BJ CATTLE (CMHy 
S0600 tok - obtOi pw to. 

-fcn 97 67.70 6732 6735 -017 1257 

Mor97 6630 S762 6767 -030 5301 

AW 97 60S 67.90 67.90 —063 1131 

MUV97 6680 6635 6337 -021 1073 

Aug 97 7070 7035 7062 —838 2J10 

Sea 97 7145 7105 7110 -430 340 

Est. safes 1.752 Tie's, safes 2,154 
Tie's open ire 17662 off 69 

HOCSAmn (CMER) 

*04)00 to.- cents per to 

Feb 97 7190 7125 7170 -12 11684 

Are 97 75.92 7535 7170 -12 SJ64 

Jun97 7930 7150 79.17 —005 1553 

JuS 97 7475 7U0 7440 +073 1605 

Aon 97 7140 71 JV 7117 +135 1. 704 

0d 97 4445 4530 6635 *168 999 

Est. safes 8602 Tue's. safes 10542 
Tue's open irt 29672 up M19 

PORK BELLIES (CMER) 

*0600 to- cents ore to. 

Feb 97 B23D BOBS 1130 —IK 1917 

Mre97 0195 BCLBD 01^ -187 MO 

Mov 77 8230 H.90 BIAS -085 680 

JU497 81 10 80.00 8172 -140 5U 

Aug 9/ 77.17 7630 7635 -082 170 

Estsates 1334 Tue's. sates 1828 
Turtoaenint 6.Z2I off T7A 


COCOA (W5EJ 


MOT 97 

I3H 

1366 

1W 

♦ w 

39,110 

MOV 97 

1416 

!» 

1415 

+ 16 

UMJ 

Jul 97 

1438 

1415 

>439 

+ 18 

18.531 

Seen 

U5i 

1649 

its* 

»>6 

6.971 

Dec 97 

1465 

US 

un 

+ 19 

IJW 



High 

Law 

Ctase 

Chge 

Optnt 

ORANGE JUKE (NCTN) 



iMOOtos.- canto ore to. 




JOT 97 

7700 

74JS 

7500 

—80S 

1703 

Mor9l 

8100 

7805 

7900 

—025 

18030 

May 97 

tSM 

8275 

8130 

-005 

4042 

Jul 97 

8805 

8600 

8600 

-125 

989 

EsLftte NA 

Tub’s. Kies 5093 


Tue’s open 37 JM 

Off 132 




es.soK 4447 Tue's. sdes 4.198 
TursapenM 82.9C up 104 

COPFSC(NOE) 

J73«bs.-amperlb m 

Mre 97 11930 11530 U48S -d35 18497 

MOV 97 1 1475 11435 11495 +030 ABC 

Jul 97 11600 11125 111S —410 2407 

Sep 07 11150 111.75 II13S +030 1^9 

Est. safes 7.TO ToTiMSet iTl* 
Tue'SBPenirt 38,937 up 415 

SUSAR-fTORLDU (NCSE) 

114000 tos.- caret ore to. 

Mo 97 10.98 M.79 1094 —106 74433 

Mar 97 1095 1080 1094 -004 3L«4 

Jut 97 1109 1079 1009 -Ota 24.917 

OQ97 1098 1079 1008 . 1 4442 

Esl. sales 10517 Tue’s. sde 9388 
Tue'soasnnt 154.7W a* I13J 


SOLD (NCMX) 

100 Irav r.- pallors par bar dl 
J an 97 34530 -3J0 

Feb 97 34960 36450 34440 -260 91044 

Mre97 36740 -170 

Apr 97 37130 36860 36830 -270 23688 

-km 97 37360 37160 371.10 -170 16397 

Ana 97 37150 -170 4«S 

Od 97 37400 -170 1367 

Dec 97 30160 37960 37150 -270 14323 

Est. safes 35600 Tue’s. sc4es >4699 
Tue’s open W 109605 up om 

W GRADE COPPER (NCMX2 
21000 tos- canto par to. 

Jan97 1M60 10ZJ0 W440 -175 5624 

FW>97 10130 10130 W3J0 +115 1647 

AfeT97 1Q2J0 99J0 102.15 +130 20724 

Are 97 10060 10060 HUH +160 967 

Mtry97 9930 9730 99.15 +170 43B 

Am 97 9865 +160 763 

Jul 97 9730 9410 9735 +130 3310 

AUB97 9&30 9520 9665 +165 576 

am 97 rsjo +ito lost 

Estscdes NA Tue's.scta 4623 
TuS’tepenM 49,176 UP 981 

SLVBKNOVO 

5000 trov pr.- onto par Nor ol 
JOT97 469.0 —56 421 

Fet) 97 4713 — M 2 

Mar 97 4815 4726 4733 -48 54350 

MOV 97 4843 4745 4777 -&3 93 S2 

MV7 4810 *1.Q 4823 —54 1365 

Sw 97 4B66 tm 4849 -53 1020 

Dec 97 4W6 4936 4917 -AS 4395 

Jan 90 4943 -AS 6 

Esc safes NA Tue's. sates 23307 
Tue's open W 8*693 up 2B3 


PLATINUM (NMERJ 
SB liw ot' danres per tro «. 

Jon 97 36960 36400 34560 -170 1209 

Are 97 37430 370JD 371.10 -330 186J1 

Jul 97 37400 37460 37360 -360 2.151 

Oc!97 37450 -ISO 1148 

Jon 58 301 JO 38160 37930 -150 1459 

ESL safes HA Tue's. sates 46*2 
Tue’s open W 25.990 up 135 


LONDON METALS OJME) 

DoUcts per metric ton 
Atandaom 04 tab Grade) 

Sprt 1519% J52DW 751540 1515V, 
Fonmnl 155060 155140 154540 154440 
Copper Catbwtes (Kkta Grade) 

Spot” 227000 22/560 2Z1 615 2217V* 
Forward 216140 214340 212940 213000 

Spot 70640 70740 70140 701V* 

Prevmrd 70740 707V* 70100 70340 

Spat 647540 64BS40 533540 avaaim 
F anvma 657000 458040 643540 644000 
Tin 

Spat 578000 579000 577560 578540 
Forwara 584000 584500 5B3S40 584000 
Vac. (Special tfMi erode) 

Spar IVTTK ICQS’rt 104540 104640 
Preward 105940 106040 1064 '4 106540 

ffiflfi Low Ctase Oige Optat 

Financial 

US T. BUS (CMHU 
ti nwsem-ptseriOBpre. 

Mar 97 9498 9190 9191 -003 1146 

Jon 77 9163 H74 9174 -069 2600 

Sep 97 9158 -0.14 31 

Est. sales na Tue's. sates 221 
Tue’s opwiint 7477 off 10s 

IYHTR8ASWY (CSOT) 

Slfl&m orta - m A 3MS6I too pm 

Mre 97 106-255 106-03 106-07 _ 12 Kn . wsi 
An 97 10WS 105-2? 1CW0 — 12 2J06 

Est.sdes 45600 Tue’a.sdes 22411 
Tue’s open W 1S34M 1S» 3917 

10 YS, TREASURY (C80T) 

SIDO-rna rein- Pto A 3Ms Dll Mod 
Mir 97 109-11 1048 1 0B-14 - 23 2B 1436 
An 97 108-21 107-23 107-27 - 22 10/7X7 
Sec 97 107-11 — 23 in 

Ed sdes £0400 Tue’s. sdes 30,91$ 

Tub's wnw 297418 up tm 

US TREASURY BONDS tCBOri 
(0 Pd-MUIt-pto A tandi at im pen 
Mar97 113-31 111-05 111-12 -100 427494 

Jun 97 112-13 118-21 110-28 -108 -154B9 

S0O97T11-31 110-11 110-14 -in 5,14$ 

Dec 97 110-00 — 1 09 1742 

Esr.sofes 330400 Tie’s, safes 15042* 

Tue’s open W 45162* up 51 » 

SB%ZEa&.» 

Est. sales 77»tS7, nev. safes: *JZ3 
Prev.epaataL 1 13X130 vs 274 

Mer 2174*3 

7wW7 99 Jl 99 JO 98.49 -163 749 

Ea. sates: 99613 Pare. latex 7023 
PW^wifeL 217492 off 013 


High Low Ctase Chpe Opbtt 
10-Y EAR FRENCH 60V. BONDS tMATIF) 

FESoauoo- ns of 100 pd 
Mar 9712848 12742 127.94 — 04812&765 
Jun 97 127.14 12704 12664 — 0JB 81943 
Sep 97 125.14 125.14 12444 — 0JB 0 
Dec 97 N.T. N.T. 94.14 — 

Est. votumK 10X759. Open bit- -L588 off 313 
ITAUAN GOVERNMENT BOND OJFFEJ 
ITL 200 m»on- pto of 100 pO 
Mre77 12805 12700 127 JO -Z10 89094 
Jim97 128.17 128.17 12683 - 209 1300 

Esl. sotafe 20711. Pre*. safes: 6426 
Pie*, open UL 909H up 1087 

EUROOGLLARS tCMSJJ 
SI mBSon-atsollOOPCt. 

Jot 97 9X475 94430 94415 -® 23026 

Feb 97 94410 944)0 *4400 -SO 4024 

Mar 97 94460 94360 96380 -60 #09,428 

Jun 97 94310 94.170 96190 -90 3Z2J63 

MreOO 91340 11190 93000 -100 36*59 
JOT 00 93280 91130 91140 -WO 35070 

Sep 00 91240 93010 91100 -HO 31J4B 
Dec 00 91160 910HI 91020 -TOO 36988 
Est. safes NA Tue’s. sties 173020 
Tue’s open w 24S200 up ran 
KOTTSHPOWOCCMSD 
oum POOTds. S per pound 
Mar 97 IJDffl liBio 14902 -222 39090 
JOT 97 14996 14790 U854 -320 2.167 

Sep 97 14606 —218 1027 

Dec 97 14758 —216 7 

EsLsates na Tue’s. soles 11483 
Tue's Open W <2.991 up 3697 
CANADIAN DOLLAR (CMER) 

lBUMdeAanbS perCtti. «r 

MreW TOT 0297 0270 -36 51,947 

Jun97 0371 0304 0335 —37 12031 

S«p97 0407 0375 0367 —40 4J10 

D«:W 0437 0«B 0397 -43 309 

Esl. sites NA Tue's. safes 1988 

Tub’s opot ire 68003 up 191 

6BUIAN MARK (CMER) 

12S400iiMi La» SpremPrtt 

Mre97 4533 4497 4522 —9 52045 

JOT 97 4545 4537 4561 -9 4079 

Sep 97 4600 -0 1074 

Dec 97 4639 -9 17 

Est.smes NA Tue's. sties 34495 

Tub's open hi 59,115 up 6079 

JAPANESE YBi (CMBU 

■IS mltSan vwl S per 100 wn 

Mor 77 400756 JHS710 408742 +29 SB04S 

Jun 97 08BB64 008860 .008856 *30 1451 

Sep 97 008973 *31 ITS 

Est, sates NA Tue’s. sties 9.915 

Tub's open W 59081 up 534 

SWG5 RtANC (CMBD 

125008 lTWKS.spre franc 

Mar 97 JS3Q 0473 0488 -32 41066 

Jun £7 JB0 0545 JSS7 —32 1038 

SmW 7627 —32 1099 

Ea-sales NA Tue's. safes 7010 

Tue's Open ml e.1Q5 off 667 

J-MONTHSTERUHC OJFFEJ 

noaooo-ptsmioopd 

Mre97 71XL 9306 930# +001 9U80 

JtJnTf mm mm ““ 

Sep97 
Dec97 
Morite 
Junto 

ifeW nM 9139 9138 —007 I&im 

Detf* 9135 9207 9207 — (LIB 1A4IS 

Mam 9228 9221 9201 -0.11 7043 

£22 5K 9Z.lt 9111 -0.10 406 

2-12 91 n 9206 — 0.10 4445 

Dec99 Vito 9205 9200 - 0.13 15? 

g-Mfies: 34150. Prev.sdec 0717 
Piev.opCBtat: 394420 ap 1452 

M«97 9608 9607 9608 UnctL 2DA0M 

^ 943 9601 M01 -D^ 8^415 

2H5 ZtJ 3 9”2 -on asio 

SfS 9544 9541 —0.13 SIMP 

ass %% ggzgfl 

^ %si SiS rSli ZU41 

Dec99 «A2» Ma w3i -ai4 1440 

PiBV.openhiL 973092 off 237 
0-MONTH PI BOR CMAT1FJ 
ff5«S!ftm-Ptsiil1fl0pcl 

9449 - 002 71W97 
Jun 97 9470 9447 9647 — 003 35.7M 
97 9644 96^J 9W0_g£ gf,” 
Dec 97 9646 9641 9801 —005 19430 ‘ 
Mor 98 9677 9604 9604 — 008 lJSS 
96.14 96^-008 ,£*94 
S-S 95X1 W08— O07 1M19 

S K £ w - 5 ® 9 Sl58— 009 1289 

S^-MO 11,10 

JOT 99 9503 9502 9502 — 009 SJ«n 

^ ^ S^-Q09 In” 

Dec 99 9452 9648 9448—009 545 

volume: 19^09. open tat: 219,524 up 


— — +++b 9138 +001 9U80 
<naj nsa 9303-005 Sra# 

toto 9202 9203 —007 57,183 

9271 9265 9245 -008 #4483 

Kg 9255 9154 — 008 33072 

9250 9245 9245 — O0B 

9241 9239 9138 —007 I&im 


Hfeh Law Ctase Use Opvrt 

Mar 98 7705 7700 7705 -005 «4 

EsLNtoS NA Tue's. safes S.9S4 
Tue’s open W aB57 up 130 

heatmsob. omen 

ftijfllj flfH fglK pw «miI 

ra>97 720a 7100 7in *aot vj o» 

■ Mre 97 76. HJ 6900 6947 14059 

ArefT 6435 1150 6602 -005 8473 

May 97 003 6140 6187 -019 4,189 

JOT 97 6005 60 JO 6072 -015 5.1*5 

JUl 97 5975 5940 5977 -020 3075 

AOT97 5977 —020 3.208 

Sep 27 MJB —025 2M3 

<W 97 6077 -025 1J76 

Nw97 Mlm —025 1,262 

NA Tic's. sties 33043 
Tue's open int 9&408 Off 4254 

UOHTSWLLI aUMDIMBU 
■too bM>daPan PvbbL 
Feb97 2605 2540 2669 -023100454 

STB 2X95 2507 -017 39469 

Are 97 2442 3625 2638 -016 25066 

“WW S4S 2373 -016 1140 

0m 97 2127 2103 nil -016 2&415 

0697 2248 2249 2247 -016 14422 

AWJW H-18 2208 2209 -OH a»79 

SOT 97 7170 2146 2145 -OH 11279 

OCT 97 2104 —017 8499 

Nov 97 2095 2000 2090 -017 U73 

^ 

-ai* 8.153 

5*98 2031 3019 20lB -018 5081 

EsLsdes NA Tue's. sdtt «uu 
Tic's open W 364,170 w> 5199 

NATURAL GAS (NMBQ 
' a ^' nn 35Sf fc * w t*" 1 “v 

Feb97 2920 2460 2090 +133 31453 

Mar 97 2445 2410 2423 +142 18,185 

ABTW 2350 1150 2350 -S LOT 

MOV97 1S6 2060 2335 +149 8464 

Jot 97 29W I860 1200 +134 8048 

4697 2910 2070 2200 +]40 J 157 

AU09T 1210 1M0 2710 +!S 6421 

J065 2JD0 - I3S £l02 

OcJ97 2715 2130 2215 *127 6,842 

2715 21*3 2715 +120 3498 

STS’, 2 -® 0 . 2710 2410 +125 64Q 

NA Tic's, safes 19013 
Tub's open ml 1CL846 up ^ 

UNLEADED GASOLINE (NUSQ 
ajm bb 4- coats are pa 
S-m 5- 10 T1.10 + 077 31306 

JJ0O i960 7134 +OD1 11082 

ti’to S- 58 -OJ* 5 S' 417 

MOV97 71^ 7tL50 7123 — OW 1 . TW 

JOTW 6990 68.15 BJO -a 15 

NA Tue's. Hta* Jl'jO 2 , ' Sln 
TOT’S open irt 9006 

GASOIL OPE) 

V’ Pf 1 mWc *1 Ms at r 00^ tons 

Jon 97 23295 2209$ 23200 +BJ5 1440 

Feb 97 2279S 22X50 mS ^7^ 

S3 r ^ 21175 * S3B 

Apt 97 20700 20400 wft: +4.75 t757 

19795 tITS 1211 

JotT? 9400 19095 19275 +1M 1422 

Juf 97 19200 18X25 18875 +195 2417 

Aug 97 18900 1W40 ]M9S 
Sept 97 18675 18075 18700 +LK 5M 
OS97 N.T. NX 1B640 tl M S? 

Nov 97 18640 186JO 18600 !{3 m 

1Jnn Es, ' 8otes:21 ' S42 - Open lnL91M78 off 


BRENT OIL OPS 
U4. dotiore per bonw 
Wg 2441 2404 
M®97 23.91 2344 

Aor97 23.15 2101 
M8>?7 2240 2220 
JUW97 2200 7143 

S ' 34 

AugW 2076 2043 
SOT97 N.T. N.T. 
0°5L 1M5 19.95 
N« 97 1945 1945 
, Efl.sote2Mi 6 . 


-Ms of 1000 barrels 
2«Z +041 57+464 
2340 +006 36,208 

+027 17081 
+(UT 11051 
U 266 

21« +0.12 9,914 

M -007 1582 
2n.l2 +005 4495 

1999 t(L08 3047 

1909 +0.10 2.207 

Open tatj 167076 off 


^tMATIF) 

S if Bf n -m as SSBrsi 


7TL" TL0B 93 JO -0.12 Wro 

ss w. s a =11 3 

«La» 

iST &L filSy- 14S2 

™ "WHL 208743 w 122 

industrials 

COTTON 2 (NCTN) 

MM ibs. - cents per to. 

^ 75JB *lrt3 32081 

MOV 97 7675 7675 7645 +017 liSi 

^ M n” M :«7 

Od97 77 JO 7760 77J5 +001 liS 

D«97 7700 7605 7*95 +0dS 9^ 


Stock Indaxea 

«oex icwsy 

SOOxInden 

MQtf? 749 JO 73125 740/0 lfli ro 

JWW 756.15 7«JB 7cS -4U sSS 

MW 7HJ0 Zjg fg 

Est iotas na Tub's, safes 4im» 

Tort open M 189766 <* 1361 

FftEifeaiFFS) 

(25 Kr Index perire 

™ 4I B v »»-ss m- 

«•***: iZZO. Prey 2394 

Pw- toen tat 54 IsF Xn** 

^CtotMATin 

f5 ^ gfo-«i«xnsw47 

** “ RSlfcgg ^ 

Ml** ntUlttK 1S ^M- Open tatz 49, 385 off 


Commodity inde^ 


JSES? 

Reuters 
DJ Futures 
CRB 




■ -ft" 


.e. »■+.>--' 

* . 


M 

,T; 

^ .1 


r* amr,' -■» 

-V*-' • 


X ? lam 

7 




INTERNATIONAL HERALD TRIBUNE. FRIDAY. JANUARY 3, 1997 


PAGE 13 


** 


EUROPE 


De Beers 
Terminates 
Agreement 
With Russia 


Bloomberg Business News 

JOHANNESBURG — De Beers, 
which controls the worid distribution 
of gem diamonds, has terminated a 
purchasing contract with Russia, 
severing a key member from one of 
die world's longest-running cartels. 

Analysts said it was too early to 
say whether the rift would be tem- 
porary. They said the lapse of the 
agreement on Wednesday could 
take months to affect pices because 
Russian producers have been selling 
diamonds outside the agreement for 
thepast three years anyway. 

Tne marketing arrangement, uoder 
which Russia sold more than $] bil- 
lion of uncut diamonds . a year 
through the De Beers Central Selling 
Organization, ended after Moscow 
failed to approve a ne w agreement by 
a Tuesday deadline. Talks aimed at 
securinganew accord are expected to 
resume later this mon th- 
in 1995. Russia accounted for 
about $1.1 billion of the Central 
Selling Organization’s sales, or the 
26 percent maximum allowed it un- 
der the lapsed agreement In 1996, 
Russia delivered less than its quota, 
Gary Ralfe, managing director of 
the organization, said last month, 
declining to give a specific figure. 

The Centra] Selling Organization 
sold a record $4.83 billion of rough 
diamonds in 1996, or about 75 per- 
cent of world sales. 

A five-year marketing agreement 
between Ete Been and Russia expired 
in 1995 but was extended for a year 
pending Moscow's approval of anew 
accord, reached in September. 

On Dec. 18. De Beers told Mos- 
cow that h would stop buying under 
the extended agreement on Dec. 31. 
If the new agreement was not rat- 
ified by then, De Beers would be 
free to buy from Russian producers 
other than Almazy Rossii -Sakha, 
the state-owned exporter. 

Politics and bureaucracy delayed 
ratification, De Beers said. Contrib- 
uting to the delay were the Russian 
presidential elections, ministerial 
changes and arguments over the al- 
lotment of tax revenue from dia- 
. mond sales between provincial gov- 
ernments and Moscow. 

De Beers has complained that 
Russian producers were flouting the 
agreement, causing “substantial 
leakages” that could contribute to 
the destabilization of prices. 

The ol d agre ement called forJRusr _ 
"sia to sell 95 percent of its export- 
able rough diamond production 
through De Beers. Under the pro- 
posed new three-year agreement, 
Russia would be entitled to keep 
about 123 percent for sale an the 
open market, cutting its sales to the 
organization to about 873 percent 
of exportable output Russia’s quota 
of total sales through De Beers 
would remain at 26 percent 


Single Currency: Cracks in the Facade 

In Critical Year, French-German Strains Likely to Intensify 


By Tom Buerkle 

International Herald Tribune 


BRUSSELS — With Europe en- 
tering the decisive year in its drive 
for a single currency, the likelihood 
of a monetary union appears great- 
er than ever. 

Interest rates across the 1 5- nation 
European Union are at their lowest 
levels since the 1960s. laying the 
basis for sustained if modest 
growth. The currency turmoil that 

NEWS ANALYSIS 

winpsawed the bloc’s economies 
from 1992 to 1995 has disap- 
peared, and with the recent agree- 
ment on a stability pact to impose 
restraints on budget deficits, EU 
leaders have completed the tech- 
nical preparations for the debut of 
the euro in 1999. 

But beneath the surface calm, 
political tensions over monetary 
union continue to run high between 
France and Germany, the two linch- 
pins of the project The difficult 
negotiations over the stability met 
revealed deep philosophical differ- 
ences between Beam and Paris, with 
Chancellor Helmut Kohl stressing 
budget discipline and sound money 
and President Jacques Chirac in- 
sisting that politicians retain the lee- 
way to loosen policy in response to 
social pressures caused by high un- 
employment 

The French-German struggle is 
likely to intensify in coming months 
as it shifts to issues including the 
independence of the future Euro- 


pean central bank and the appro- 
priate monetary and exchange-rate 
policy for the euro, EU officials and 
analysts say. 

“There are a couple of cracks 
appearing in the facade.” said 
Richard Davidson, senior Euro- 
pean economist at Morgan Stanley 
in London. “It has raised the risk to 
the process” of launching a single 
currency, be said. 

Die latest tensions revolve 
around French calls, renewed by 
Mr. Chirac at the EU summit meet- 
ing in Dublin last month, for a so- 
called stability council to coordinate 
economic policy among the coun- 
tries that adopt a single currency. 

The dispute is as old as the 
Maastricht treaty itself: Germany 
vetoed French suggestions for a 
European economic government 
when the treaty ■ negotiations 
opened in 1989. 

in theory, there is little separating 
Paris and Bonn. Finance Minister 
Jean Anhuis of Ranee has suggested 
an informal group modeled on the 
Group of Seven nations. His German 
counterpart, Tbeo Waigel, has 
largely welcomed the idea, figuring 
that some kind of organization 
among countries adopting the euro 
will be needed to enforce the deficit 
limits contained in the stability pact 

But many German officials sus- 
pect that their French counterparts 
view the council as a vehicle to 
enable France to push for looser 
monetary and fiscal policies and to 
limit the independence of the Euro- 
pean central bank. Those suspi- 
cions have been fueled by French 


descriptions of the council as 3 
counterweight to the central bank 
and by calls by senior French 
politicians, including former Pres- 
ident Valery Giscard d'Esiaing.for 
a devaluation of European curren- 
cies against the dollar. 

“There must be an interlocutor 
for the central bank.” a senior 
French official said. The stability 
pact itself, which was reached only 
after the personal intervention of 
Mr. Kohl and Mr. Chirac, demon- 
strated that serious economic dis- 
putes “go to the politicians: they 
can't be resolved by technicians." 
the official said. 

But while acknowledging a need 
for policy coordination, German 
officials draw the line at anything 
that might curb the central bank’s 
independence or lead to more in- 
flation-prone policies. 

“We don’t see a need for. and 
wouldn't want, a counterweight to 
the European centra] bank.” a senior 
German official said. "It has a dear 
task: centralizing monetary policy." 

The debate over control of the 
European central bank and the 
level of the euro “shows that cer- 
tain circles in France haven't yet 
really accepted the principle of the 
treaty of Maastricht.” a Bundes- 
bank official said, speaking on con- 
dition of anonymity. “We will 
have a common monetary policy, 
and this will lead, whether you like 
it or not. to a certain limitation on 
sovereign Fiscal policies.” 

Already, officials in Bonn are 
watching closely to see whether the 
French government will signal any 


softening of its stance when it fills 
two openings on the monetary- 
policy committee of the Bank of 
France. Both seats currently are held 
by defenders of Paris's’ "strong 
franc” policy, but Mr. Chirac re- 
portedly has insisted that one critic 
of that policy, an advocate of rapid 
rale cuts to stimulate the economy, 
be included on the list of candi- 
dates. 

Dutch officials worry that the dis- 
pute could dominate their presiden- 
cy of the Union, which began this 
month. The EU summit meeting 
scheduled for Amsterdam in June is 
supposed to approve a legal text of 
the stability pact that was reached in 
Dublin. Dutch diplomats expect Mr. 
Chirac to demand an agreement cm a 
stability council before signing off 
on the stability pact. 

“You have to be clear about the 
French,” a Dutch diplomat said. 
“They don't want the stability coun- 
cil to talk about fiscal policy. They 
want it to control the central bank. 
That goes against the philosophy of 
a number of member slates.” 

But France has its allies, too. 
particularly southern EU countries 
and socialist governments more 
concerned about Europe's 1 1 per- 
cent unemployment rate than about 
die stability of the euro. 

“I suspect the French have lots of 
support,” said Alan Donnelly, a 
member of the European Parliament 
from the Labour Party in Britain. 
“There’s a growing feeling that 
with slow growth, you can't let too 
many levers of economic policy slip 
out of national control.” 


OUTLOOK; U.S. Executives Alter Their Tactics - Revenue Growth Is New Goal 


Continued from Page H 

creases of the 1970s to provoke a 
significant downturn. 

“If you consult whai you used to. 
you don’t see a recession coming.” 
Lawrence Bossidy, chair man of Al- 
ii edSignal Inc., said. 

The year many chief executives do 
see coming looks a lot like 1 996, with 
some sectors, such as high techno- 
logy, growing fast, while others, like 
paper and textiles, idle in neutraL 
“In some areas we’re going like 
bell, and in some areas we're cau- 
tious,” said Uvio DeSimone, chair- 
man of Minnesota Mining & Man- 
ufacturing Co. “If you add up all of 
it. you get a picture that’s O.K.” 
_j8utjjie faetjhat the . economy is. 
growing slowly does not mean that 
individual companies must poke 
along. Many big companies have 
now switched their focus away from 
cost-cutting and downsizing and to- 
ward revenue growth. 

Du Pont, for example, “took out 
$3 billion in costs and cut 40.000 
people" in the early 1990s, Mr. Krol 
said. “Now, we have to start to grow 
the revenue line and keep a close 


check on productivity.’’ He is aiming 
for a 6 percent to 8 percent increase in 
sales in 1997, co mpare d with 3 per- 
cent in the past few years, plus a 
productivity improvement of 2 per- 
cent to 4 percent, compared with 
about 6 percent die past few years. 

Mr. Bossidy is shooting for a 12 
percent increase in AUiedSignaTs 
sales in 1997, with about 8 percent 
coming from current business lines 
and the rest from acquisitions. 

Most of that will have io be real 
growth, executives said, because 
there is little room to raise prices in 
today's highly competitive environ- 
ment 3M, for example, expects to 
mark up prices by just 1 percent in 
1997. 

Nejthg^that nor the age of. the 
expansion is necessarily prompting 
executives to manage more cau- 
tiously, but some said it would 
change their emphasis. 

“When you look at operating 
budgets, and there’s nothing there 
for a price increase because you 
can’t get it you spend more time 
emphasizing growth in sales and 
productivity,” Mr. Bossidy said. 

To him, that means “a lot more 


market segmentation, trying with as 
many new ideas and resources al- 
located to it as we can. and ac- 
quisitions.” AlliedSignal’s capital 
investment and research and devel- 
opment budgets will see double-di- 
git increases this year. 

Meanwhile. Mr. Bossidy is seek- 
ing a 7 percent improvement in pro- 
ductivity this year, compared with 6 
percent in 1996. 

AlliedSignal’s plans, while 
hardly universal, seem to be only a 
little more aggressive than many 
others in corporate America. 

Even in retailing, where growth is 
expected to parallel the economy 
and force consolidation. Sears. 
Roebuck & Co. plans to spend $750 
million to add 25 department stores, 
upgrade some stores and open more 
specialty stores. 

“I don’t believe you pull back on 
capital expenditures unless you’re at 
risk on the balance sheet,” said Ar- 
thur Martinez, chairman of Sears. 

For an increasing number of large 
companies, much growth is expec- 
ted to come from their efforts to 
globalize. 

“The U.S. is in a pretty good 


Investor’s Europe 


Frankfurt 

DAX 


2950 


Paris 
CAC 40 




N D J 


O N D J 


1996 

1997 1996 

1997 

1996 

1997 

Exchange 

Index 

Thursday 

Close 

Prev 

Close 

% 

Change 

Amsterdam 

EOE 

634j41 

648.24 

-2.13 

Brussels 

BEL-20 

1 £71. 05 

1,695.49 

-1.29 

Frankfort 

DAX 

2,848.77 

2,886.69 

-1.38 

Copenhagen 

Stock Market 

470.14 

471.95 

-0.38 

Helsinki 

HEX General 

N.A. 

2.495.93 

- 

Oslo 

OBX 

531.80 

532-58 

-0.15 

London 

FTSE TOO 

4,057.40 

4,11850 

-1.48 

Madrid 

Stock Exchange 

434^4 

444.77 

-2.30 

Milan 

MIBTEL 

10,488.00 

10,571.00 -0.79 | 

Paris 

CAC 40 

2^256.97 

2315.73 

-2^4 

Stockholm 

SX 15 

2.49029 

2^27.42 

-1.47 

Vienna 

ATX 

1,134.87 

1,140.19 

-0.47 

Zurich 

SPI 

Closed 

2511 88 

■ 


Source: Telekurs 


Internal!' 4i.il llorjld Tnhnmr 


Very briefly: 


position now,” Mr. Bossidy said. 
“We’ve got good costs, and we're 
better competitively than ever. We'll 
increase our worid market share. 

“But you've got to have a good 
long-range road map, and be nimble 
and flexible enough to change it. to 
respond to whatever happens out 
there.” 

Consider Pfizer’s situation. In the 
United States, “the health care sec- 
tor was growing at 10 to 12 to 15 
percent a year in the early 1990s,” 
Mr. Steere said. 

"But now it will probably grow at 
the same rate as the economy over 
all. ” As a result, he said. ‘ ‘our fastest 
growth is in emerging markets." 

Indeed, executives’ optimistic vi- 
sions for 1 997 are founded in pan on 
expectations that economic condi- 
tions overseas will also improve. 

The outlook in Europe. Latin 
America and especially Asia looks 
better than last year, executives said, 
although Japan remains a question 
mark. Mr. DeSimone of 3M says 
that “Japan is coming along reas- 
onably strong and will be better in 
’97.” But Mr. Krol said, “It may be 
fiat to a little down.” 


• General Electric Co. of Britain sold its Satchwell Controls 
division, which makes and installs automation systems for 
industrial and commercial buildings, to Siebe PLC for £80 
million {$136.9 million) as part of its strategy to sell what it 
terms underperforming businesses. 

• Axel Springer Verlag AG sold its 24.9 percent stake in 
DSF Deutsches Sportfernsehen GmbH, a sports channel, to 
Kirch Group's Taurus Vermoegensverwaltungs GmbH unit. 
Die price was not disclosed. 

• Germany's economy will grow because of strong exports in 
1997. but the growth will not be large enough to reduce 
unemployment, the German Economics Institute said. 

• Bis SA, a French temporary-employment company, ap- 
pointed a board member. Claude Charbonniaud, as chairman 
to succeed Laurent Negro, who died last weekend. 

• The Irish Stock Exchange's 1SEQ index was expanded to 
include seven Northern Ireland companies, raising its total 
market capitalization by 7 percent. 

• France’s new-car registrations rose 10.5 percent last year 
from 1995, to 2,132.000. 

• Volvo AB's Volvo Aero Corp. aerospace unit raised its 
stake in AGES, a U.S. company that trades and leases airplane 
motors and other parts, to 5 1 percent from 25 percent in a $43 
million transaction. 

• McDonald's Restaurants Ltd. plans to create 5,000 jobs in 
Britain by investing £1 1 6 million to open more than 100 fast- 

utfei 


food outlets. 


Blnwhcri;. Reuters. AFX. AFP 


Samsung Drops Fokker 

Bliuvnherg Business News 

AMSTERDAM — The South Korean government has ruled 
out a takeover of Fokker NV. the bankrupt maker of regional 
jets, by a Korean consortium led by Samsung Aerospace 
industries Ltd., the Dutch Economics Ministry said Thursday. 

A letter sent from Samsung to Fokker’s liquidators ex- 
pressing its “regrets" has been passed on to the Dutch min- 
istry, Maijolein Wester, a government spokeswoman, said. 

According to Ms. Wester, Seoul left the door open for future 
negotiations “if Fokker is resurrected in another way first.” 

The official withdrawal from bidding by the consortium, 
which included Hyundai CoTp., Hanjin Heavy Industries and 
Daewoo Corp., came five weeks after Fokker’s receivers 
themselves gave up hope for the takeover. 

Prospects for an agreement worsened in November when 
Fokker's suppliers said they were no longer willing to provide 
the company with parts. 


WORLD STOCK MARKETS 


H|0i 


High Law Oase Piev. 


High Law One Prav. 


Thursday Jan. 2 

Hlgk 

Lew 

Cktsa 


Codon Faro 

790 

770 

780 

Tstckurs 

Ootaat 
Den OaftikaBk 

3» 

■676 

353 

664 

3S3 

474 


High Law Close Prev. 


780 
358 

■ tn 

CVSSmdtngB 222000 219500 Z22DOO 221000 
MMMAh 155000 151000 154750 151500 


Amsterdam 



IHdg 

Rohoru 

Rmkunco 

Roltra 

R0MrtO_^ 

RrrtaDott 

Un fl erano 

Vends* liril 

VNU 

Wanes Kl am 


Bangkok 

AdvIntaSK 
Bangkok Bk F 
KfungTlwfK 
PIT Bailor. 
Siam Cement F 
Stan Coro B0F 
Tetecomcslo 
ThS A/rwcw _ 
TWFomBf 
UtdCoan 


220 

248 

4925 

370 

804 

IBS 

5250 

3750 

160 

175 


Bombay 

BaUAtrw 
Htndisr Lner 
HHbsi Peflm 
Ind Dev Bk 
ITC 

MdmnaaarTei 
Rafiancefnd' 
sne Bk India 
steel Authority 
Tula Eng Loco 


921 

S145B 

355 

9325 

346 

241 

220 

249.75 

ww 

364 


Brussels 


AMW4 

EkncoM 

BBL 

Beknert 

CBS 

CMP 

Cobcpa 

Codas* 

Cotrort 

Detente Lion 

Ecctrabei 

EtedmOna 

Forts AG 

Gaeoert 

SIB 

GBl 

Gen Barrow 
Kmftttmfc 
FettvCoa 
Poweffin 

5stay 
Trade** 
ucb , 

Union MWera 


10475 

5470 

6620 

-20300 

2M5 

TWO 

1208 

119 

lOSP 

IBM 

7510 

3015 

SIM 

2230 

TAB 

4085 

11450 

KMH 

10175 

4810 

6590 

2478 

19580 

14775 

umi 

2140 


BEL-20 talex: 187X05 
ParioslBW 

10475 IDttO 

5380 SCO 5480 
6520 6620 6730 

19950 7BOS 20150 
2840 2840 2885 

W40 !W0 2000 

1282 1204 1206 

TW 11 5 , JW 
KJ5D MOO 1455? 
1850 TIM 1865 
73M 7430 7510 

2995 3015 3015 

4940 4910 5090 
2190 2230 - 2200 
1400 1432 KB 
4025 4025 4005 
11225.11275 11375 

looso loon mao 
loom low loun 

47M . 4790 48S0 
6500 '5500 6£S 
2435 2435 2« 

19875 19300 19425 
14700 14725 14775 
81250 -11400 an 0 


2100 2100 


Copenhagen 


BGBtffl*, 

CoririwgB 


Stock tadecWH 
F ra Waa m 47X95 

276 271 271 Z?6 

395 3M 395 390 


EOEtodec 63441 
Freda— 64 m 


. J MB 
KDOLutthowM 
NvoNonmfcB 
SqptiusBerB 
TereDoraiAB 
TrygBatHca 
UndcauaatA 


tt-T. 

N.T. 

N.T. 

755 

67? 59K40 

612 

600 

N.T. 

NT. 

N.T. 

1110 

760 

745 

755 

75B 

325 

309 

321 

325 

391 

296 

290 

300 

306 

302 

303 

305 


SET tat— SOUS 

PmHoes:B31-57 
210 218 218 

238 242 248 

47 47-50 50 

368 368 370 

796 796 OM 

173 174 1B6 

4075 49 5350 

3SJ5 3625 3725 
. 157 160 160 

166- 169 174 


Frankfurt 

AMBB 980 

Addas • 13250 
AtBanxKdg 2746 
Altana 12MJ0 

BkBarfn 28.10 

BASF 5X90 

T7.f 0 

BMW 1063 

GomfMOfxnk 3X85 
Dakota Bare 10465 
ppni wm 685 

DwfeCteBa* 7125 
Deui Telekom 32J0 
DrextaerBatt 4520 
Fiesedns 307 

FresenksMed 131 JO 
Fried. Krepp 2» 
Get* 9830 

HcttefcgZmt 128 

Sr i ss 

Hoedwt 70.90 

Knatafl 510 

Linda 938 

Luftaaiuc 2 1-10 
MAN 377 

Motmesnaan 672 

Metre 12380 

Munch RueckR .3810 
PreoMog 349 JO 

RWE 64 

SAP pH 210 

i as. 
sar 

VEW «3 

SSUm 63050 


980 

12920 

2733 

1190 

27.78 

5BJX2 

4525 

6135 

6133 

75J0 

1053 

3820 

10330 

675 

71.37 
3125 
4530 
295 
131.10 
245 
97/a 
124 
7530 
6X25 
7035 
503 
932 
2040 
36730 
661 
31.40 
12050 
3761 
341 
6X40 
20750 
12630 
71 JO 
26830 
KUO 
491 
59450 
631 


24 

PU ta te 3 2 60 86 

STS 89325 93025 
BOB 80935 BT7 
33075 33033 335 

91.25 9235 9325 
337 JO 33925 34} 

rrttt 234 236J0 
21250 21X25 21 B 

239 JO 241 24650 
2125 2225 2125 
35X50 35425 362 


Helsinki hex 


rl 

EnraA 
HUMBmokl I 
Keroira 
Kesko 
MertkiA 
MeJra B 
Mefco-SertoB 
Nests 
Nokia A 
Oricn-YMymoe 
Outokumpo A 
RaukavtMd 


240 
37.40 
214 
57 JO 
64B0 
1430 
25B 
3490 
111 
265-50 
178 
7850 
4250 
365 
96 
8050 


240 

37 

213 

57 

6X50 

14.10 

257 

34 

11050 

263 

175 

7780 

42 

355 

9550 

79 


PIC— 20581 

240 250 

3780 36-90 
214 214 

5720 53 

6380 6450 
1420 1420 
256 258 

3440 3450 
111 - 112 
264 26680 
17650 177 

78 78J0 
4280 4250 
360 363 

96 9680 
80 81 


Hong Kong »%£*]$££ 



HK Qectilc 
HK Stamp Hid 
HK Telecomm 
IHdgc 


Hopewell Hdgc 
HSBCHdg* 
Hukttxan Wh 


DAX; 284827 
Pre— 288859 


1000 1080 
13050 133 

2746 2800 

1196 1198. 
27.98 28 

5882 592B 
4555 4655 
6250 6320 
6127 6280 
7550 76.10 
1053 1073 

3825 39.10 
10450 106 

675 69650 
7120 7150 
3X34 3145 
4520 46.10 
295 310 

13120 13120 
243 249 

9750 9050 
128 12450 
7655 7720 
6150 61 

7088 7X70 
505 520 

938 940 

21-10 21 

377 373 

671 667 

3150 3150 
12380 124 

3775 3845 
34950 34850 
6X70 6520 
20850 20750 
12650 129.90 
7180 TLX 
27320 Z73 

88 89 

491 49S 

598 604 

63650 640 



2580 

yttw 

25.10 

25J0 

Brit steal 

181 

186 

187 

181 

1480 

1405 

1605 

1660 

BrttTetecroa 

X96 

190 

X93 

194 

1280 

12.10 

IXli 

1280 

BTR 

282 

2J5 

X76 

284 

695 

690 

493 

5 


1186 

1093 

1X94 

1181 

16650 

163 

16380 

16580 


187 

184 

184 

186 

60 

5X50 

5850 

60J5 

Oobte Wketess 

486 

633 

633 

606 

3080 

2984 

2V84 

3080 

CodbwySdnv 

693 

6B0 

609 

693 

21 JO 

3QJ0 

2185 

2180 

5.19 

48/ 

480 

614 

21.10 

2080 

2080 

21 JO 


684 

685 

685 

684 

7JS 

IJO 

/JO 

7J5 

CronpossGp 

618 

6.13 

61/ 

6J0 

5X75 

it 

4780 

a 

196 

386 

195 

194 

2110 


22.94 

2280 

Dtons 

588 

4J6 

481 

483 

388 

3JH 

380 

380 


45B 

488 

464 

695 

680 

693 

6S3 

EMI Group 

1190 

1386 

11/4 

1384 

2880 

7780 

» 

2870 

EmtrortseOil 

FwntotonW 

689 

636 

6J0 

684 

11JS 

lias 

11 Ji 

1185 

180 

18B 

188 

180 

9380 

92 

92 

9675 

GerriAcddent 

787 

IJ9 

781 

/J4 

5.15 

584 

5.10 

5.70 

GEC 

382 

177 

3JB 

383 

985 

9 JO 

9J0 

980 

GXN 

1082 

9 Jtt 

9516 

1001 

635 

620 

6J4 

680 

Glaxo Welcome 

988 

975 

987 

980 

7625 

7780 

77.75 

74 


882 

084 

089 

063 

15J0 

I48U 

1SJ0 

1580 

Gasid Met 

659 

4.51 

653 

460 

3080 

3040 

3080 

3080 

GftE 

282 

2J2 

281 

280 

38J0 

3/80 

3/80 

3880 


587 

583 

587 

588 

. 22 

2180 

2180 

2285 

Gukness 

45B 

640 

642 

449 


Jakarta 

Astra Inti 
Bk Ml Hide 
Bk Negara 
Gwtonp Grant 
Inducement 
Indofood 
ind— it 

Sampoema HM 
Semen GftsJk 
Telehonumlkasi 


OsaipesltoMce 638.10 
Prevtous 63743 

5325 5275 5325 5275 
2350 2300 2325 Z325 

1Z75 1250 1275 1250 

10425 10250 10425 10200 
3575 3550 3550 3600 

4650 4600 4650 4700 

6500 6400 6400 6500 

12550 12450 12475 12600 
7550 7500 7550 7600 

4125 4075 4100 4075 


GUS 

Hanson 

HsBcHMtf 

ia 

ImpHObccco 

Osrfbtrcr 
Loooroto 
Lord Sec 


Leptd Gent Gfp 
Lloyds TSBGp 
LncnsVwtty 
Maries Spencer 
MEPC 

MernnyAaet 
National Grid 


Johannesburg a im— mam 


AmokRHiMBIa 
AnatoAmCa* 
AnatoAm-Cora 
AnplaAai Gold 
AngtoAmlPd 

CG. Smith 
Been 


FstNaflBk 

Genas 

GF5A 

fear 

LbenyHdgs 
liberty Lite 
Minorca 


Nedenr 


24 212S 2150 24 

355 355 355 355 

257-75 255 257X5 257.50 

355 355 355 35685 

16675 165-50 165-50 14950 
4185 4180 4185 41 JC 
2X75 22.56 22-50 2285 
133-50 132 13X25 134 

4875 « 4875 4975 

23 2273 23 2X90 

17 16.90 17 17 

129 19 129 19 

X32 370 131 X34 

bo 320 *po 

117 11625 11675 11775 
98 9773 98 9675 

1X45 1875 1X45 1160 
6375 6150 6X75 64 


Naif 
Newest 
Ned 
Orange 
PAD 


PlWngj an 

PowerGen 

PieralerFaTNlI 

Prudential 

RontradiPP 

Rank Group 

RccHttCoim 

Rsdtond 

Reed tad 

ReatoU inHol 

Rectos Hdps 


RMC Group 
Rolls Rtyca 
“ I Bk Scot 


Rayot I 
RTZra 


415 
083 
■ 581 
1372 
789 
380 
672 
271 
1M 
2X8 
X73 

435 
274 

491 
434 

1285 

271 

489 

492 
588 
188 
5.90 
780 
1-59 
575 
7J1 
494 

386 

436 
774 

387 
1182 

439 

7J5 

383 

988 

2JB 

584 

937 


404 

080 

453 

1X40 

7J7 

373 

673 

277 

774 
270 
165 
473 
118 
479 
470 

1275 

1.93 

478 

679 

588 

185 

583 

775 
183 
461 
746 
487 
378 
478 
7.11 
381 

1083 

472 

773 

187 

986 

280 

442 

9,18 


Rembrandt Gp 

4180 

4095 

fl JO 

41 J5 

Rota t Sun Al 

488 

630 

638 

486 

Richemont 

65 

64 

65 

65 


404 

196 

199 

605 

Rost PtBflnwn 

6650 

6X75 

6480 

64 


191 

380 

386 

380 

SA Braweries 

11675 

115J5 

11675 11080 


1X15 

15 

15.10 

1620 

Samanar 

5675 

5475 

5475 

S 

Scat Newcastle 

687 

675 

677 

607 

Sosd 

55 

5450 

S 

5580 


383 

387 

147 

383 

arc. 

184 

184 

184 

184 


280 

X75 

X77 

781 

Tiger Oats 

6X50 

6280 

6X50 

65 

Severn Trent 

676 

663 

6/7 

669 


Kuala Lumpur 


Gentap 
AM Banking 
Mol Irrfl Strip F 
PetmnasGas 
Renong 
Resorts Vtorid 
Onto Darby 
Teletaro Md 
Tens 
Utdl 


1770 

2775 

780 

1050 

456 

1180 

MS 

23 

12 

2250 


Composite: 123053 
PisHeeK 1237J6 

1770 1780 17.40 
26 2780 28 

745 745 780 

1<L2D 1020 1080 
440 » tin 

1180 I1JQ 1180 
975 950 955 

2240 2X80 2280 
1170 1180 1110 
2270 2280 2280 


Shefl Tramp R 
Stede 

Strati Nepnew 
SeftOe 
States hid 
sewn Elec 
Stogecsod! 
5*mdCtarter 
Tato&Lyfe 
Teaca 

Thrones wortr 
31 Group 
T1 Group 
Tonkins 
Unflever 
UM Assurance 
UUNOM 
UMUflBes 


10.12 

1092 

181 

8.10 

B8S 

8 

497 

772 

47S 

XS5 

411 

488 

582 

270 

1417 

493 

492 

423 


London 

Abbey Nall 
AOedDenwcq 
Angflao water 

AsScGmup 
AssOC Br Foods 
BAA 


ttaidoae Lx ufe 573 


FT-SE 1001 485740 
Prerieos 411450 



PBtnd 

BrflAaup 

Brit Land 
Bril Petal 
BSkyB 


745 

467 

590 

749 

174 

485 

488 

1082 

821 

488 

xia 

168 

873 

409 

IBS 

1285 

406 

225 

5-18 

781 

573 


745 

457 


743 7 Si 

4 42 

583 483 S.M 
786 786 749 

1-22 173 173 

480 40 485 

480 483 4M 

978 980 1102 

MB 410 421 

47B 432 435 

383 384 106 

150 156 155 

062 457 475 

577 483 403 

377 377 IBS 

1240 1277 1280 
496 S99 487 

118 121 US 

412 5.17 417 

682 685 781 

414 418 424 


Vodafone 
WNttsead 
WSDantsHdm 
WBtsetey 
WPP Group 
Zeneca 


147 

786 

144 

462 

285 

1648 


951 

1075 

178 

770 

7.92 

7.90 

655 

780 

469 

140 

496 

483 

471 

263 

1X98 

480 

481 
612 
577 
139 
778 
133 
454 
280 

1417 


4* Madrid 


Mlsn lades 4M54 
P i w te ar U 4 T 7 


Acerinox 

ACESA 

Afl uoi Bar cNon 
B onesto 

BanWnlw 
Bco Centra Htsp 
Bco Exterior 
BcoPopaks 


CEPSA 

Caataeate 


18500 

1775 

5470 

5750 

6980 

1045 

19930 

3300 

2780 

25200 

8240 

0945 

2615 


18000 

1715 

5300 

S660 

6830 

1005 

19720 

3210 

2770 

24960 

son 

3805 

2550 


18170 16740 
1720 1700 
5380 5400 
5700 5810 
6860 7010 
1010 1005 
19720 20130 
3250 3335 
2780 2775 

25000 23500 
SOM 8318 
3840 3960 
2550 2660 


C orpMa pOe 

FECSA 
Gas Natural 
ibwdrnto 
Pryat 
Reps d 

SerttonoElec 
Tabaoriero 
TeWBrtco 
Union Fenosa 
Vatenc Cement 


7ES0 

9190 

1265 

30150 

1800 

2725 

4970 

14M 

5590 

3015 

1350 

1495 


7730 7770 
9010 9050 

12M 1210 

29710 29760 
1705 1705 

2610 2635 
4905 4910 

1155 1365 

5480 5510 
2970 2995 

1270 7290 

1465 1465 


7910 

9240 

1280 

30200 

1B40 

2750 

4980 

1475 

5500 

3015 

1395 

1«0 


608 6.12 
0J2 08! 

586 582 

1286 1273 
788 789 

378 378 

688 684 

280 281 

784 787 

280 X39 

X65 372 

428 431 

271 273 

485 491 

430 434 
1X35 1244 

1-97 176 

480 489 

6JS 686 
5JB 588 
186 187 

588 5J0 

785 780 

186 1JB 
588 572 

748 781 

490 493 

381 38! 

431 438 

7.14 773 

3.53 389 

1087 1IJ05 
431 441 

741 782 

181 384 

974 978 

2.53 2.58 

544 584 

981 988 


972 10.12 
1089 1084 
179 182 

770 am 

382 882 

7.09 776 

6,97 7 

7.14 771 

473 474 

150 385 

576 615 

487 487 

5.71 582 

284 270 

1402 1417 
492 481 

688 697 

622 621 
587 581 

241 147 

7.7B 785 

384 344 

458 464 

282 2-53 

1117 1648 


Manila 


PSE bdec 315648 



Pievtas 317086 

AyitaB 

2980 

29 

29 

2050 

Aytdn Land 

30 

2V 

2980 

30 

BkPhWpId 

161 

159 

161 

159 

C&P Homes 

14 

I3J4 

14 

1X40 

Mania ElecA 

125 

123 

175 

174 

Mean Bank 

650 

630 

645 

650 


9.10 

880 

9 

090 

PdBcnk 

34780 

344 

34780 

345 

PM Long DW 

1430 

1370 

1375 

1445 

San Miguel B 

114 

III 

114 

116 

SM Prime Hdg 

680 

6/0 

670 

680 

Mexico 


Baba indee 335986 



PrHtaOB 236181 

AUaA 

3660 

3620 

3640 

3670 


1680 

1682 

168(1 

1662 

CamexCPO 

2885 


TOM 

78.14 

CSraC 

980 

9J0 

980 

980 

EmpModema 

3980 

3880 

3880 

J9M 


4380 

4180 

4X30 

41.70 

GtaFkilnburso 

2695 

76/0 

7694 

2690 

ICnb CkalMa 

15650 

15X50 

15450 

15580 

TetevteoCPO 

101 JO 

9090 

9090 

10180 

TetMexL 

1X04 

1X90 

1X04 

1X98 

Milan 

MIB Teksiaflca: 1048880 



Pietaoe 1057180 

AOeonza Asstc 

10510 

10260 

1(065 

10595 

Ben Comm ital 

2795 

2745 

2745 

2760 

Ben Ftisuram 

3325 

3270 

3300 

3334 

Ben a Roma 

1209 

11/0 

11/4 

1714 

BeneJTon 

18670 

18355 

18355 

19190 


1663 

1641 

1651 

1666 

Edison 

9475 

9260 

9425 

9600 

ENI 

7895 

7710 

7805 

7785 

Rat 

4590 

4435 

4460 

4590 

GenenWAsNc 

2B750 

28100 

28300 

2B/J0 

IMI 

12935 

12500 

12730 

13000 

INA 

2005 

1972 

1987 

1976 


6420 

6300 

6345 

A!W5 


7095 

6930 

6960 


MacQodanoi 

8250 

moo 

8130 

8185 

HAarra^sm 

1041 

1026 

1029 

1034 


2320 

2290 

2310 

2320 

PM 

2820 

2800 

2810 

2815 

RAS 

IttSO 

14000 

14150 

14150 

Roto Barra 

14950 

14600 

14630 

1468} 

5 Poole Torino 

9385 

9190 

9240 

9300 

sw 

6470 

6295 

6300 

6900 


3970 

3875 

3950 

3940 

TIM 

3855 

3770 

3795 

3835 

Montreal 

I 

I 



PHalaaK 277X12 


4060 

4080 

-m An 

4060 


2X65 

21.90 

72 64 


CdnUtBA 

30.70 

X80 

30ft 

30.70 


3X45 

3X44 

3285 

3X50 


17 JO 

17.10 

17.10 

17.15 

GWftWUWco 

31W 

21.15 

21 V, 

21'* 

Hero am Sep 

2085 

20JO 

2080 

20ft 

Imasco 

3X60 

32(4 



inwctonGro 

2695 

2660 

76 90 

27 

Lafakrw Coe 

1435 

14J5 

1434 

14 14 

IJaC Bk Cffiioda 

1104 

1384 

ruts 

mo 


Trir 

2685 

?7 

7735 


4880 

48J0 

48JD 

4880 

OuebecorB 

2280 

2X70 

2X80 

2X90 

Rooen CdhbtiB 

980 

980 

980 

10 

RoicIBkGtt 

43.10 

47.10 

48.10 

4010 


High Lew Ctesa Prav. 

i Pertm A 109 1QSJ0 I0B 10650 
11680 116 11650 177-50 

TronsoceonOft 395 390 395 tio 

Storebrana Aao 3740 3690 3190 37 


Paris 


CAC-48: 225677 


■ MB IM 


Pra<riwn:ZiiSJ3 


642 


634 

657 

AGF 

16650 

163 

16380 

16750 

AlrUquide 

AknSTAteTh 

804 

E3 

787 

BIO 

41X50 

403 

40490 

41680 


ttubo 

EZ3LJ 

326 

330 


606 

584 

586 

614 

BNP 

199.90 

19/JO 

19040 

20080 


536 

1150 

509 

1121 

411 

1127 

438 

1146 


3375 

3260 

3267 

33/6 

GCF 

740 

23X10 

234 

240 


45660 

445 

449.70 

442 

Crodd LwnPC 

Crown Corit S«4 

13X50 

130 

13010 


27010 

27010 

27010 

290 

Donone 

725 

/I? 

/li 

723 

Bf-Aouftoine 

471 

46X10 

46X50 

4/130 

ErktaUoBS 

• . 1 

806 

807 

835 

Euro Disney 

1020 

1010 

1010 

1030 

Eurarimnel uts 

7 

A 75 

680 

604 


640 

624 

629 

643 


36780 

347 JO 

34480 

364 

Ldfo^e 

■ 1 

305 

30090 

311 JO 

Legnted 

Ltfrooi 

Ed 

860 

1876 

861 

1884 

004 

1954 

LVMH 

1450 

1391 

1396 

1449 

Lyon-Eou* 

MJdwenB 

Ci/1 

466 

471.90 

48X90 

282 

27090 

27650 

28010 

NmdgMbJe 

■ 1 

7B8 

788 

782 

Paribas A 

347 

339 

34X40 

35090 

PecWneySA 

21880 

7)0 

214 

7I/.40 

2B&60 

27060 

778/0 

7ft/ 

PewOMtCB 

572 

545 

444 

484 

PtnouB-Prinl 

70tt 

2011 

2011 

2058 


1466 

1428 

IttO 

1465 

Renoutl 

111 

10780 

10780 

11180 

Rft-Pouienc A 

17450 

167.10 

169 JO 

17690 

Roussei-Udal 

1428 

14Z / 

1422 

1527 

Sanofl 

523 

■J 

ELI 

516 

Sen wider 

23090 

234 

235 

239.90 

Sie Generate 

557 

547 

548 

561 

SIGatnin 

732 

718 

721 

734 

Sr Louis 

1290 

1243 

1264 

>292 

Suez 

221.70 

219 

221.10 

22060 


16980 

16430 

16450 

16030 

Total B 

419 

407 

417 

422 

UAP 

lill 

126 

129.40 

12980 

voteo 

320.90 

311 

31780 

320 


Markets Closed 

The Seoul. Singapore. 
Taiwan. Tokyo, Wellington 
and Zurich stock markets 
were closed Thursday for a 
holiday. 


Sao Paulo Bcrespatadec 6*55540 

PlfskWB 7039980 

Bco Brasa PM 
BanespaPfd 
BrodascoPM 
Brahma Pfd 


Cam la PM 
CESPPfd 
ElefrofamB 
rinu banco Pld 
LJ ghi 

Paiunapan PM 
PfitrabrosPW 
Sid Notional 
Souza Cna 
Trteflrns PW 
Tata PM 
UfMMSPfd 
CVRD PM 


970 

470 

745 

56670 

3551 

4170 

3ae.ac 


36570 

11J0 

16671 

*70 

un 

7940 

22670 

177 

20.10 


040 

450 

783 

56370 

3471 

4040 

38270 

1TIIB 

36180 

1170 

16400 

3870 

640 

7840 

22X00 

173 

1980 


970 970 

4660 570 

785 783 

56&40 56B70 
3420 3540 
4080 4081 
3S&70 3&270 
mm 45070 
36370 36070 
1180 11.15 
16470 16580 
29.00 *80 
642 642 

7885 8000 
22340 22570 
175 176 

1980 2040 


The Trib Index 

Jan. 1. TSB2- fOO. 

World Index 
Regional Indaxaa 

Asia/Padflc 
Europe 
N. America 
S. America 
Mua&M lndexae 
Capital poods 
Consumer goods 
Energy 
Finance 
Miscellaneous 
Raw Materials 
Sendee 
UdUes 

Thm ManttmlNMU Tribune World Sto* Index C tracks trie U.S. dollar v alues of 
WO irsematiortaty hvesuUm stacks from 2S owntnee. For mora InAxmaton. a tree 
booum Is avaHabto by writing to The Tr* Index, I Bf Avenue Charles de GauBs. 

32521 Neudfy Cedax. France. Oxnpded by BtaortOerg Busewss News. 


Laval 

Change 

% change 

year Io date 
% change 

147.99 

-0.41 

-0-28 

+1222 

122.86 

+2-24 

+1.86 

-6.49 

158.30 

-2.94 

-1.82 

+13.74 

161.56 

-0.42 

-026 

+25.94 

113.58 

•0.86 

-0.75 

+27.50 

169.15 

-1.74 

-1.02 

+27.30 

160.52 

-0.91 

-0.56 

+1626 

168.38 

-2.32 

-1 36 

+24.16 

115.44 

+0.82 

+0.72 

-9.27 

159.16 

+3.08 

+1.97 

+17.19 

172.91 

-2.55 

-1.45 

+21.94 

136.08 

-0.72 

-0.53 

+13.40 

141.64 

-1.72 

-1.20 

+11.40 


PtraiavlUpiatei 
Sandvft. BF 
5CABF 
S-EBankenAF 
Starafia FWSF 
Skanska BF 
SKFBF 
SSABBF 
SWruAF 
SvHroidltaAF 
Sydkraft AF 
Trefleborp BF 
VBhnBF 


Sydney 

Amor 
AN2 Bking 
BMP 
Band 

Brambles Ind. 
Bums Phlip 
CBA 

CCAroatll 
Coles Myer 
CerocJco 
CRALK 
CSR 

Fosters Brew 
GIO Austado 
Goodman Fid 
H3 Australia 
John F airfa x 
Lend Lease 
Mayne Nkkiss 
MIMHdas 
Nat Aust Bonk 
News Crop 
North Ltd 
PadHcDitaop 
Pioneer lirfl 
Placer Padflc 
Snr rfps 
SoulhCorp 
Westaimen 
Wlem Mining 
WesfWdTrl 
WasnacBUig 
WooSoePei 
wuulwwlh s 


High 

LOW 

dose 

Prev. 


High 

LOW 

Close 

274 26050 

769 27950 

Donohue a 

24* 

2485 

2470 

18550 

18150 

18150 

IBS 

DuPontCdaA 

32 

32 

32 

14050 

13/ 

138 13850 

EuroNevMng 

40.90 

39 J5 

39.90 

6950 

67 

68 

70 

Fairfax Flnl 

29? 

7W 

290 

19350 10950 

18950 

193 

Rsicanbrfdge 

29 JO 

2985 

W30 

298 29450 

295 30150 

Ftether ChaO A 

21*4 

2144 

2144 

158 

156 

158 161 50 

Franco Nevada 

62 

4980 

60ft 

116 

117 

114 

114 

GuKCdaRes 

1005 

9.95 

9.94 

93 

91 

97 

94 

Imperial 01 

64 ft 

6190 

6444 

196 

193 

194 

194 

rrra 

4415 

4380 

4X95 

Itt 

146 

144 

148 

IPL Energy 
LoldtawB 

39.95 

3980 

391* 

91 

09 

90 

9050 

16 

1514 

1595 

150 

14G 

149 15050 

Loewen Group 

54 

431* 

54 





MoanBBWi 
Magna Inti A 
Methanes 
Moore 

Newbridge Net 

1010 

I/ft 

1010 

A1 Ortflnories: 2411 JO 
Preston* 242460 

1X45 

2040 

39 

1X10 

27ft 

3780 

12-30 

28ft 

3040 

008 

7.96 

006 

009 

Norando inc 

3085 

3030 

3040 

7.96 

781 

784 

7.93 

Noraen Energy 

303S 

3014 

3015 

1788 

1784 

1782 

1782 

Whem Telecom 

8530 

8340 

8495 

380 

350 

157 

358 

NOVO 

1X20 

1X05 

1X20 

2470 

24.17 

2465 

2455 

One* 

19.65 

19ft 

1985 

X30 

2.IB 

7J8 

124 

Pttecdn Petal 

54 

S3 

53 

1X03 

11.94 

11.99 

1X04 

Pefro Coa 

19J5 

19ft 

19 JO 

1X35 

1X95 

1X97 

1385 

Placer Dome 

29.90 

2985 

29 !■ 

125 

5 15 

533 

5.18 

PocoPetan 

1110 

1781. 

1385 


654 


658 

Potash SasK 

117 

11415 

11490 

19.70 

19.60 

1985 

19J5 

Renaissance 

4645 

4585 


439 

432 

433 

440 

PJoAtgom 

sou 

3040 

3085 

285 

X47 

7-51 

285 

Rogers Canto B 

27 

26Ai 

27 

121 

xia 

xia 

122 

Seagram Co 
ShetCda A 

55ta 

5X90 

551* 

158 

153 

187 

154 

53ft 

53ft 

53U 

1X« 

1X2D 

1123 

1185 

Stone Censotd 

1980 

19 JO 

1984 

XB5 

287 

284 

285 

Suncar 

56ft 

55 

56.45 

7471 

2430 

2485 

2440 

TaBsmffli Eny 

45.95 

441* 

45.95 

888 

047 

047 

040 

TeckB 

31 ft 

3085 

31 

1J6 

1J4 

1J5 

176 

Teleglobe 

40ft 

3980 

3980 

1471 

1460 

1478 

1480 

Telus 

20.10 

1980 

2010 

663 

685 

689 

684 

Tlwmson 


29ft 

30ft 

lea 

385 

187 

X68 

TorDom Bonk 

35.15 

3470 

3490 

X19 

117 

X15 

320 

Transc no 

17.0S 

1685 

17 

X76 

274 

3J4 

3J5 

Transom Pipe 

7410 

2170 

7X05 

1J5 

183 

185 

186 

Trimark RrV 

4180 

41 

41.15 

5.10 

WM 

587 

5.10 


3010 

79.70 

7980 

A 

X92 

X95 

4 

TVX&Old 

1070 

1040 

KUO 

075 

068 

070 

880 

Westcoast Eny 

2105 

71 * 

2X05 

781 

m 

/.B0 

7.93 

Weston 

66.70 

66(7 

6680 


53V: 


2-39 

7.12 

9.05 

375 


2-37 

Ml 

975 

199 


X39 X38 

7.17 7.16 

9.11 9.19 

375 373 


Toronto 

Abltttri Price 
Ateena Energy 
AkonAkm 
Anderson Eapl 
Bk Montreal 
Bk Nam Scotia 


TSEtWSOStrtOte 599431 
PlCTtoas: 592773 


Oslo 

AkerA 

BeraeenDyA 

anwianioBk 

DnnorskeBk 

EAem 

HaBdundA 

KvoemerAso 
Nask Hydro 
NorskeShogA 
NyumedA 
(Mia Asa A 
Perm Geasuc 



OBXtedBta531J8 

Stockholm 

SXl6tadera29fU9 
Prevtous; 252742 

BCE 













AGABF 

101 

100 

100 

102 

Btactnn Pltana 

143 

14) 

147 

143 

ABB AF 

777 

765 

76S 

770 

BombortDerB 

155 

142 

152 

156 


1H 

HU 

1BA80 

190 


2041) 

20 

2040 

203) 

AtadAF 

33050 

330 

33449 

331 

Bre-x Mteenis 

24-70 

2410 

2460 

2440 


16380 

162 

162 

165 


HM 

1U 

106 10580 

AoesnF 

74 

71 

73 

7380 

CISC 

47 

46J0 

*7 

47 

Electrolux BF 

39580 

390 

39050 

396 

Cdn Matt Rod 

310 

305 

307 31050 

6rR=«nBF 

20980 

204 

20780 

211 

Cdn Nat Res 

343 

340 

343 

345 


965 

932 

962 

944 

CtaOcddPel 

213 

210 

21050 

213 


495 

45 

471 

495 

Cite Pacific 

101 

97 

100 

9780 


300 

293 

295 

30180 


448 

445 

446 

445 

tCJnnevtk BF 

19780 18150 

185 

188 


255 

251 

255 

249 

Mo Da BF 

in 

IBS 

1B9 

192 

Duinkfl 


22 

3214 

471» 

17M 

4385 

46 

3080 

6170 

*85 

69V, 

2115 

3014 

2X55 

5490 

60.15 

SX15 

37Vi 

2X15 

3640 

3415 

26 

1140 


21 Vi 
321k 
46J0 
1785 
42 V4 
45 
38U 
6465 
*45 
68 V, 
U«ll 

3040 
2170 
54 
5975 
51V 
3635 
21 JO 
35 
34V5 
SC AC 
11V> 


23 21 JO 
32M 3X70 
471* 46U 

17 JO 17.70 
43 4X60 
4585 4575 
3840 39<k 

65 6580 
2985 2985 
68V, 6085 
55.15 2580 
30*S MVJ 
2285 21.70 
54 5490 
59.90 6045 
5X15 5X10 
3675 3780 
22 2275 
3575 3605 
3415 34.10 
26 25.90 
1180 1180 


Vienna 

AusiAkOnes 

Bnw-UnGoess 

Buna verb Pid 

CwinansiPM 

EA-Generall 

EVN 

lifleruntak 
Louring 
Leytam 
Mayr-MeMiDl 
OMV 
Oesi Brau 
Oesl FlNdltZ 
VA Tech 
Hfiwwrterger 


ATX indee 113447 
PrariOBK 1140.19 


1530 

1530 

1530 

607 

658 

686 

900 

380 

380 

sao 4&01O 

486 

□195 

3125 

3140 

162680 

1601 162680 

1*81 

1481 

1481 

690 

675 

681 

28380 

270 

281 

537 

530 

537 


1200 119080120680 I2SI 

738 72B 735 73j 

015.10 790 015.10 81051 

1700 1674 1690 169981 

2100 2000 3090 »K 


See our 

Arts and Antiques 

every Saturday 


I 


1 


t 

t 

f 

t 

c 

h 

v 

s 

L 

E 

J 

C 

■ 

i 


13 

19 

24 


1 

U 

17 

2C 

W 

34 

45 

44 

70 

71 
77 
82 
74 
16. 
21 : 
24-. 


2 

3 

A 

5 

6 

7 

8 
10 
12 
13 

15 

16 
18 
21 
22 

24 

25 

27 

28 

29 

30 

31 

32 

33 

35 

36 

37 

38 
40 

42 

43 

44 

48 

49 

50 

52 

54 

55 

56 

57 

53 
59 
40 
61 
62 

63 

64 
68 
72 
74 
7£ 

76 

79 


TI 


Ax 


Ex 

Th 


Me 

Jai 


Tlh 

Jar 


We 

Jar 


Thi 

Jar 


Frit 

Jar 





PAGE 14 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


Thursday’s 4 pjm. Close 

Naaarrwwepnc8a.no<r0tec^ 

The Associated Press. 


a Many, 



Mlti Lo«* Stock 

n, vuic m mu 

Low LOMU War 

| - 

A-M 

1 


jg 1* M 411 39. 

?»“ a*-< 


.« .rSSL3S 
S*R 

SSJ-"- 


8SJ: ... 


sa aksPu- 

l< IlhAPTOTn 
U •r'k«no5cn 

MM mmaSlm 

4.1* 2J'*ATtTl 

yJWKS* 
saiF*"* 

5/1* *' 


'I » '■! '« w 

£ B 2 A ** 

« i3 A ‘Jtt 

fi 2 


77VS ll« 

m iKiaffi 
US n*tSS£ic% 

2* REST 
a jmssk. 

IftSSSSE 



i&ssss 

1*1* II«A|>UII1 


ssssass- 

40*« 4M%AirTcnpfq 

nto VnAioatfM 

SS s*sg^|i 

IVh — 


SSSS5- 

.. 

to ZMoAMamoB 

S '* 49^AV3V 
n m Atm 
V«* WArtorf 
Am iltoAnaxofl 


S* 

- Sjh 

lito >3^ 

O'k aik 

ss ss 

im ill* __ 

»to J31fc fiw - 
jiowi )iav» ail*) -i 

ES I. . 

gS R-JS 

St ss 
ST R 

r -•* 

1716. 115* —4* 

14* 141* — l* 

. '»'« l3Mi -5* 

R ss as =2 
S'* ss SS _* 

« ij it in sc* 

JO A i II MJ 119* 33 XU* — V* 

1» i U fi* 9 Jt»* 

- - “ - " IBVk T<P4 

57* 

4TV* «|% 

» 8 yf % ** 

|5 M III I4M 

” It _. . . 

. n w m 
•4 g « 

— n 


tavj «-■ 
v. pn 


n 1 * .... 

IJ** «4AWW*t 

IftJSSKSSr & 

m l a *JvnBM 
50V* VhABniM 
H 1 * I* ABUWP 

UittutfCii 


_ _ as ss 

vs fl a 3 as s’* R-i- 

IsaJSsi^ 

lfi V zu# ig ** ** 

2 ft ^ 


HI* 


U» 4.1 


S*--" 

- JY» —l* 

Ml* M% Ml* _ 

:is ’ja ^ sa -i 
» » n s_ 


74 WVi 7S 

17 4b Shi 4hi 


—5* 


as an* ai an* -%* 
" — MM, -? 

|S 

a* -a 




- 1:3m 

n u , ]i In in lik 
ski vi _ 15 so** 

M - 5! • 

» IJ ii M45 JO 
2.1} 12 — 


o 

isl* 

I ~ if „ 

" “ B8 T* 

u» *3 ?! w? mm 

....... dn 

uk mS|E 

?iS!0 

40 U 8 



5ft JM 

&*__ 

»to 33 Muam 
M MAMIG 
W. r* aixkjuj 
11* 1 Aiwpr 
J«ft* lBn*Arcodn ai 

ssiys^r ?£ 

U Aiua*lin JMe 
u> [M AnM«4ar a a* 
II Arwd 
9T* jf^ATOp** 

Ar^on 


3M* 23 Ar^OTW 

3 yi ShiAriFue 
V) JHArmco 
A«Vj J7 Ament 




*•» non 


Wo* 


2» - 
1* JIMMMMII 

£ M KIIMCM^ 

>■ M-uunimid 
V'^tanMOR* 
l*M ll'vAiiaft: 
in 7iwjukd%> 

2lV*AMfi4Vn 
lA* iVaAuaTigr 
41* ihamqiw 
24 ttUABdgm 
21 2B AbOE^pf 
■gTT 27*«AJC^GBB* 


atv, 

II'* 

AH 3M*AH&kM 


I'* iQ^AKt^t 



1*3 


»** M'AAJlUVSd 
i«oi lDTv.AiiB-cn^ 

nrhita aprcptC 
37 »’^2t5JoS 

S3** 71"ftAlB*lZ 
“ ArJad 


«3Hi 2314 = _ 

r>*t ay. av, 

44 43 <7U _#* 

«lh _v* 

- - - 47W — ^ '* 

lay* ib !■*»■ • •* 

, as* evt •!* 

13 M77 1/1* 14** 17 — t* 

- . in 23 h* am _ 

UD aj i] waa ran iji lafi* —i* 

za iu . 3tu m aia* ?i«* - ** 

2J0 _ 1 ]I5*I 31S4* 315**— 11 •* 

l* ^ "S - 

34 U* 224 — 1* 

in* JIVm • 


1J4 71 


- - an 


•** 


27 


xi h -v» 


21 — * 


10'^Aumfff 


or. 


m _ 4Si tvk m r* 


aro n 


mm a 


111* 

411* 

?*% 


»*» —II* 


J»l* 24** 
*S 7M* 


155b 15*5 


aovj _ 


33 ss ss 

71* *1* 7% 


{•> 2^Arforw£r IJOI IJ 2* 1374 22^ 271* £*b —I* 

»V. 23**AMllnrtA UJ O . in PH TW 1?|* 

Zi*i 24 bAr»iiri) ZJI II . IB S’* W — ** 

147 IUA7EWC3 mil M *■ 

14* S* ArtfVD^ 44 10 33 3430 

1)4 s*A*tfi - w sin 

2TVS IB A**J<onn - ^ «0 

• I* S 40 I* TJ |T*s 

a»vj 2**tAOT* i.i« 20 2i nn 

in* .. _ 7* 

*4* a*A7lcr - _ J7T7 

II* llHBAWp** - - 1*71 

741*0515 Co _ _ m 

Mt* jat*egv 2-77 . _ an 

52; ■ l^Wttor 100 19 _ 2 

1 ■ r*n£*iiBO J7 *4 .on 
*> f if It . At ri* 

"* 3*vCGpn _ , ffi U 

a> &«H/| . 43 41*0 !1> 

Til* ihbJSat - _ M4 7«H 

06# 3 a 

!.••■ >14 IB 


ss _ 

si> sn* 


in* i*«* —1 1* 


31* —7 


n* n, 

O'* 

4V* — 1 


an* 50> —7 


n*wr 

'» * ll bHPPni 

aa** ii^bpe* 

IH a*BDT 


[■* V* 


i-32 U 


H5t 4^ 


ns itiBTOti 
'*H rr jffTfftrca 
“> * 

11 4 
1"« 

V* zn*»-vtu 


- » 


- 20 104 


A 11 U 

JO 2f » 
Jh 14J 

a* U 


101 ws 17 


Tf |M* 14hi 


. . 16* — 1« 

an* 34 xr* — ** 

ftV, 4V* -v* 
» 

nr* 


1*1 17 


i*«* -1 
7 ■ 1 

16*b 


OlBQU 


n*, is ftaacro 

2$ t 
H ' H’*H 


Mi* — * 
24** 

H* — * 


»V* 

2J fT.iBndWP# 
J?> MIMOMg 


UftBwMI 


1010a 

t? S 5ia III* _ . 

.5 !■ no l«vfc 17*1 
140 *0 17 *ns Ml »* 2*1* 
■“ 47 

Hh 

35* Si 


ljfln 2J la Ball a 


toy _v* 


>3i - 


200 »/ _ 


H h * IS'ABC&y. I BM 14 17 




3?> 




JOB 41 4 HI 


W* -h 


ry8*ftyi^7 


771* 

ii»* 

71* iVftBeenf 
M . £1 bBCLOTfi 
14** lJ*CK2orOi 


Knwpr 1.1 le 5' _ 


S *7 


OH . _ 

£ 33 9BOAO* 


3* 


20 _ 

■ J 14 

U ^ 


_ ia<* 

n/ znt 

8 JSS 
?S ffS ss 


>0 _ 


*7 12 


11*1 
111 * 
rt’+ 7*H 

Sa 


— #1 


3K 


2.7 ia 


in* 41^ 


27 n 

C 8 
iS _ f 


MillonM 1 » 

M C 'j Bono* A ml 

'7>» <^|M1 _ n 

. „ 55 fr 

iSVfipffA sgfiv *4 ^ 

as 1# fcHBcrfC ^#»- aJ 

»>* 2f iBAB d*E 
K 
Ms 

X, in*&rT»^ 

ZTlE>Vv<lB 


ia w*w tn* 
IB/ *3* «3'«v 
W 43** 41** 

23/ 70S* 10V. 

n a/«* 4*1* 


Ifc A 


-■* 

—I* 

-'4 


71 


&• 8S 


5W M*. §31* U> -H 


HI 


a _ 


3*1* JM* h* 


SfttOOKAin 

11 aa ■ 

W/i «3 


ll UVWAf"Pl4 131 


#10 n» 

10 7s** an 

» 29 hi h«* 

^ 

- _ IT" 3-* 

24 u fwn Mh 
IkJ _ 17 » 

27 MUCf nv 


«59* a*M, 41V, 


72/fl B3 letAfliDfB *00 M _ 
IA 74**804 pfNctf ZB - - 
ns ;«*v>AiAPii: 7 3* IJ 


14 


tab* ni* — 

71 h;* — «* 

OVi 3'* .Vi 

R " 


73 V, ry, 




M _ 


u _ 


.1 -a MhBkApiW. ZCi _ 5 . 

»<I n Mmiw I.' - 

».« 1. 

'f. •. 1: rmp ax ! ! .. 

21 nrm ih u . 

« n.wTgei 1 jo 1; - 
r ;i,mn mu. 

• ;nHvv*a* u . . 

n w*. in 10 _ g 

»*i Wtnon«i 


M »•* 

JV*' 1 W' 

SS 52 2S ■•? 

__ . _ 2* 2* 5 — * 

#7 *3 347/ an* 171 MVl —1*1 


r.* rt* — 1 


UP 100 - m 

_ 2M* 17 O J* 

T7S n%PKV0 H 34 n IMS 

w imev^n _ - 1422 

*3 B OvnOv IB 11 1; n 

4# , jr*,Ecrn-T!i l» 7> 14 WHO 


J5 

*r* _ 

201* HH 


Z7S 


n. 


1 47 BI74 


j?*% z/'Mftm 
ilSm abftiian^t 

2*1 

4a>j 32 , bower*. 
4B* WIROh* 

3* 7r-.anfAtf 


13 


7 . 

53 


S2 

*m A** 

2j9 7»Vft 


■'* «- SS -2 


Sm 


•IV Zltk —I 
1^* » — B 

iovi —s 
P-. 7T-J 
•** *S -■■> 


l«0 «} M IIM M 


MH .«•<• US « 


xs noHi^ 

MS 'I.M4 

at n ,nrv\tm 


ns — s 

ij£ -S 

res — s 


1.1s jj n «>♦< »•' 


j*.S n iMriK 


'iiBrs" 
;i,swm 
a bcmh 
; vs«rrt» v 


»*s 

ry« z5-« 

ns ns 

MS MS 


sj* i) » 4II» 


ri . S2 

.11 MW 


tn )'i » 


l M IM M« }■' 


in. 

M —I 
JV» -I 




ns . 

ny u -itvif 
US 31 WMII 
VS 

** . I' lV^Cr 
hf-Himb 


if* *] it njg a 


ij j*, n w v 


V’ «|» Bnr'on; 


VBPlflW, 

■ w™” 


M 11 I' 

,100 4*3 


S': 

V>-m 


■C-. n 

__n za ,Mratf* 
trtihT. w»h* 

‘rr. »r «r»n0' 
■i • i ih^ai. 

il-l 


M% 

i* 

n* 


'i* mg IOH 10*7 — !2 


r.hMfTrf 1 
V'iMl&l. 
a* rviibv 


m.. 

■B'v 


&'■ 


•J iB^rtrvc 'M» la iMj Mi 


,0^011 

f>"C 


2*1% »■ . — • 


ff' J2 BOlDl'. 


'3% 

■V- 


*. I/*. -V 


17 Moitft 
** iMai * 


DW YW ME HP4 HBI UmL^T?»PfO* 



Jl U _ « *1* 0* Th 

z o r Jr# is 

1 $ r I i 1 


«s _e 

?S _M 

as — s 


\i L % -M ,*W 

M.-I8 )« 


7* , 


fi t? 1 4 » «2 IP 
B SI r Iffl ’L » 


... R = 

MS US 10M 


'is =2 

7*4 — Sk 

Ei ” ’»} is is js — > 
U ij ml w« ns S’A 
U tf 3M B» » 

14 fj m ?•> 


MM US MM -4 


’5 \i I |5 © H ^ 

?2 


HMM Los Sac* DM Wffi WHVl U0- Usm O»'0« 


3* ft. 
SKS** 


»s 

1M0 TflhbO^FA 

71Vi U*t 

*11* JJl*l 1 

ir* fihDown' 
419* HViBownf^ 

* 5i ’kf 



11s uwaraenE 


lZ llkHnpCT 

MS It tooOTrt 

75 ’KISS? 

n 

SV) HlftBlainfl 
liai* H EtfMO 
I Dll* 73 BraAif 
41'* a* Firacp* 
I4JV* MVjMVM 

Ur* Mh&!»Sbr 


uh irftpvfii . 
j.2 

lOhi 4Vilvtn*e 

m aubBMvufi 

g- «*£» 
RR« 

Ss KMHrnRAC 


» a ft ft -s 

I ti 1 

,S{ SS | | :i 

. ?^ u is ir* S tj 

M *J i Ilk Bfl MS 2 -Jj 

tm IM is IH * ■* 

IMS as JJS 50‘i 

1*2 S 'Km * 4 u —U, 

ih *3 il in* u iim ll us -s 

-3 = St 8$ {ft 3 m 

,5 a \i as JS!t S5 2s _c 

5 if n fp *M *M *S 

r ? *i Jft its ITS 

as f] B’litiWSS 

SB ii J *s Ss R SC =5 


.2 S S J s 3*. 


sa rbss. 

Hi 3AiBu^« 
33 1* JilBAErre 

712 

U* via Burt rran 


IBUdig 

3 «: I K 

jar- 


- ^ IT 81 

IBB IJ ll 131 


5JV, 


Sis aftSSS 

s* 

ps 

71* IfaffiBAn 
ira ia cp- 

112 

§2 S’-SSE? 

«H IhiOMlCp 

jansaaftKi 
.Ss S2S£^n 

llM It Sm Bctf. 

M-o HUM 
ITS Ho. CPI 

& jssta. 


JIH flOOM t 
IIM llWONK 
gs 

sa S28 


!« aft 

: S IS if' isa 

'S 11 S ^ 52 5S iis _s 
l£ qj 1 in M IS Mt -s 
'* E T »v. M aft =5 

^ i ? 4 b ' 

wail is 

H5 M * *3? ,J S2 
» l 3SS fis S ‘ 

S! **2 S 

H o j _ It 10s m Its - s 

H S id «! R sa -3S 

54 U 20 n MH fM IA •« 

■ ,s *- F J5 2s ap J5 :a 
'* B 1 «B 'U 8 £2 Es -i 
.»flr®.lT‘B5R=B 
,3 i? ffl St So S^o 
s U^ii E! I» -!• 

R 


3 
3 s 



15 141* C 

141* hftC 

fl Rs 

411* JlSc 

N* favbc 
nA* IMC 



« =2 
60 i 5 =5 
^ *ft 


S2g2S5Sp 

551* WkCmOBi 
ajp* rvbc^mcuijp 


._ in; 

201 Id M i q 

^ ^ » 


Tift* Sft* 271* _||fe 
13V* S IT% —I* 

Si* II 


TS 

llw —A* 

ast js 


, 3 *i 1 ^ ^ ^ ^ =| 


ss fi^asgr 
RSsSBSSK 


m* —it 


^ ift 
jft aT? 


'll - — _s 15* 

ih i.o a a*5 n” n2 rS? 

S z : H S“ SS ~ 

2 ::“£S26!ik^ 
% *1 a i2 fi* S 5 B2 Z3« 

»«"*¥■ 1® 52 R *« 

a 1.1 a S a»s £3 wa — s 

?r.-" 

it* ja m m* as ? — vt 

,J - “ S S u PS 32 ■ ' 

■ ,# a 14 «.*„ "" 


=£ 


JB 1 J I? 297 AOH 91*2 51 K —II* 

«8 »IIe 8 -S 

IjB U 14 DO 34 Va in* —O 

111 U - 30 Mftt S12 —1* 


r. m *K H* BK » -2 
0 m r 1? 5« 
s ’i 



3 ,3 1 *1 E Sa fi *8 

* q « 1 1 1 c ;r 


rnSw"? 

S5 R dt 


1 im^u 

»s 





“ fl sn 

“ “ S 3m It 55 15 


ys 


M jl omn 

^ %g^- 

S , as’ACnao 

■v mowm 
1* nsQiuAi 
!*S sM5~irp* 


US * Otruc 

i*M IIWOUM 
j»S «tam« 

3? 


ini iftawicjM r 
— tone, 


tffisi. 

RRS8V 

IWMtl 


, . ^ £2 -i” 

28 ,ts .?.nis R R r .1* 

Vl» IM - 11} fis SIM B -s 

_ _ n >r- m it >s 
JM *J - <!• JDS SO JDS _s 

1.150 M _ aw «S MS SIM -w 

jw J _ is tjs ia ns 

B : "1 J? S* JT* : 

M _ u xas a a -s 

- _ «» 5 *1 > 

_ _ »a» irv, its Hit — s 

_ _ M0 41 s <ra «1s -s 

- 54 lltu 2tS JSS . s 

1 tot * !Jn^ E2 I' SS -ifs 


«is aisc 

Wt MMCMMS 
ms i^hcwa 

ij'J rtOw, 

22 gsSS* 
DlkSoS 

Mtt-V Ol'itCBCBMA 

MM asstaomo 

MM MhCBDC 



»>. TTS 
IIS MS' 

H.S IBS' 

»S ttscmHjaa 
Ms WiGhhT 

R '« 

a:? 35 " - "' 


_ U 11 til M _ — 

m i.o at wo £s zzs ms — s 

- at 71 1 7M 2S IS — S 
141 M I* MB *M » MS — S 

m ij m ms os yrs M -as 

iff u . u ass ass ss -s 

Vt 17 IJ 1MB ifs 31 MS — S 

- B* .IS IS IS — S 
IJB U 1* 1777 iis US US — S 

.14 5 I* TIM vs ms ms — s 

_ 2 ? snt MW zrat U — H 
* 14 n*n uus wi ibis — 
in S4 _ 4 qs BIS — 

IBD 7.1 _ 4 S of 

*2 11 _ mi us as bm — s 

B 8 : 

ia u . 111 

!«, II . * 

rs ’j : n 

i- sj Z * 


2X‘, RSBSa 
ig- Jf-'Sg^SV 

m'* . .. 

5ftJ 

§2 W 
9«'- 

O'* 34 

£> IB" 

3S> ri'. . 

g^l ISft,C 

iti* ii 
771* 10% 

34 111* 

xm a Oom M yr 
^a'.* kBn-Ctfga 

/•'#, U'V=<**>pf 

j; arasat 

1* THCauh* 

III* IQ'iUBiAn 
TV, tltCdlM 
1Q*I *1*5 - " 


** n 


*11* 101 


41 S H*C0»<Al 

=5;: iressr 

l«>can^Ks 


hH WCunXIplA 
3414 32 OWObB 
»'• a - 1 cart*ci rfT 
W*k h ' kUrarc 



13 Mam 

HttLtsaSasS- 




LOWU 



THE HEAD WAITER 


WATCHED WITH MOUNTING DESPAIR 

as the magnificent Gieves & Hawfees tie slid like a sword into the Sauce 
Bernaise. Mt Camithers, who had just returned to his seat, was unaware 
of the disaster. The waiter glided silently forward and announced his 
presence with a tiny ahem'. Perhaps, he suggested with the tact of Jeeves, 
Mr Carruthers would be more comfortable if he took off his tie? The 
gentleman duly obliged and the pride of Saville Row was silently borne 
away to be subjected to the secret alchemies of the laundry manager. 
Less than an hour later it was returned to the bemused Mt Carruthers, 
cleaned, pressed and just _ in time for coffee. So im- 
pressed was the hotel guest, in fact, that he 

delighted his table I 1- ffltBjfii y i comparuons with a piece 
of uncharacteristic X^^wcapO^^ jocularity. He would, he 
quipped, be returning the following week with a suit to 

be cleaned. The waiter merely observed that in that case he would ensure 
that an extra large dish of Sauce Bernaise was on hand to receive it. 


A RAFFLES INTERNATIONAL HOTEL 
Riffin Hwi 1 fcvj, (W.S^-aporc W* 7 I.TeM 65 l JJMSIfc. Rn: (6SI i J 9 -KS 0 . lovtoet a&sffivdSucL* 


»l* 


Its 


no* TltoC 


13 ** 


=51 



S * 33^ 

M‘4i 

ai iiHufwrs# 
lv* l*OTv*vm 
3B * llNCmitf 
H 79%C|«t=»rt 
lift* 

tn* ;v*cnca»i0A 

^5 SSjSSSS 

.J** 

171* /■*' 


ta . .. . . 

U'k maivubn 
0'* iBHCBime 


Tr'^iAJ'-uCCT-^pe 
=»*. af'wemsBrr 
J2l* D'lC^iwn 
34 1* I2«*C0iCd 
•0 U'aCBtfpli 
I1>* 


*j n .. . 

!S M 11 M S5 ... . 

a A IJ 4 S 0 UM « 1 V, «]M — IM 

u> 11 . .5 iu inn 


»6 SS|S ^ 

jtv. li'.Cy^Tjr, 


MCOCMB 

- - 

HUB* 


W IJ - J 47M OH 
ut u . ai n 71 

IM ,» 'J* MM MM 

A 11 4 IIJI 13'* 3IW 

f.M 11 17 IV* SSM 54 _ . 

IM 14 10 ill *S « 4t-.H .M 

im _ n inn 11 im in* -m 

_ fl VW BM JIM JIM —«* 
■J. I*A I* 3U — * 
** *0 - »IM » & 

’•» (B - M H W 


.. _ 77 *iCDfHtfi n 
11 a WkQli# 1 % 
31 S I* |C04jB» 
tr*. 

34 ia own* 

13 T»-*CO0Wvn 
i/ky l^vT u m iM fce 

•ftaaw 

IftbCOdl#* 


3733 39-* Mvg lit* —l<* 

- "to 73Va 271* -»* 

9 2974 a ir* ?rvi -* 

ja f45* fito 14 — 

140 712* 31’* 211* ■ a* 

I# l|« l/v* 14-M -fe 

52SI I*^ 11 


471 m 144* U* 


)i*CmtT 

r m rn 1 

IJN 1/"*Cf»»T* 


4i M*i ll 1 * 111* —Vi 

2777 rn 73** 71 1 * -2* 

. ir //** /*** 1/ — w 


li 17 I* 35*3 41** AJ'* 41 ■* —I 

41 *3 IS 10*2 »**k 13", ■ -1 

J* I f >4 W D-* 10* » • '■- 

. H» 1 ji* *to - * 
fa/ 21* ** ■* 

34 1 1 17 414 M* !*«■ 10 -SI 

I4BI If 15 3033 9II» IB* W* — 1'* 

_ _ Mb’ 31* Tito 3ito to 

100 4/ _ JB7 *JM 


’S, 

a'l 15 

27 '1 UtoCB/kWtan 



Siilfti 

J— n WCBHMM 

sjenatssu! 
#5 jSSEST 

®5 &5*Lcocsn 

35 TrifflW 

4 s ! IrtUGirM 

s: 

El^ 

|5S* 


5> JjklpM 

S'Lffl**, 

«njv W WM 
2J lI'MBUl 

saK“ 




2Ji kt'^unj 

f.xtxk. 

I?', I'linrP 
,W«M 
4 ,H*i1 


IM 

.. Z ieSE 4*5 
in u z™ £5 

•" « in 
u mS 

r± 3 ^ jft 
g ft 3 as 

grip 


o*wv 
n: m uqdm 

«*» S,,S3c 


l.u *1 R 114 JS 

jv i *2 5S 

« •; z ml -J 

u - w m. 

« B : fig ft 

22 " ?5 JS 


I4J0 

"B 


is a 

«» >*5. 


B= * 

a- = a as ijs S3 
a = S JP ¥ w "* 













































ASIA7PAOFIC 


China's Markets: Thrills, Spills and Big Brother 


By Edward Cody 

Washington Pea Service 

■ SHANGHAI — -Dai YiZbong. a trader ai a 
large securities firm here, stared transfixed at 
the extraordinary stock-market trends dis- 
played in vivid color on his computer screen. 

From the vantage point of his rooftop 
trading office, 1996 was a. year to remember 
in China’s swift but bumpy ride from a 
smothering communism toward something 
called market socialism. “Until recently, n 
was almost crazy,” Mr. Dai said of the 
abrupt market fluctuations. 

The gyrations in the stock markets bcre and 
m Shenzhen, China’s otter financial center 
700 miles (1 ,1 20 kilometers) to the southwest, 
raised anew the question ofthe degree to 
which China’s authoritarian gove rnme nt can 
— or should — control the market forces it has 
let loose among a population of 1J2 billion 
people aching for prosperity and bubbling 
with ideas of bow to attain Jl 
A lthough that question has long been clear, 
its answer has remained in suspension hanging 
on the ailing Deng Xiaoping’s eventual dpath 
and the course: that win be set-by wh oe ver 
emerges to replace him as senior leader, most 
likely Resident Jiang Zemin. Whatever answer 
Mr. Deng’s successor imposes will go a long 
way toward determining China’s economic 
style and, consequently, the tone of its relations 
with the rest of the world. 

Mr. Dai, 30, a physics graduate who as- 
pires to be tike those Wall Street traders 
sometimes referred to as Masters of the Uni- 
verse, has a front-row seat in the Shanghai 
offices of J&A Securities Co_ a Sbeazhen- 


based firm that is among China’s biggest Fust, the China Securities Regulatory 
After bouncing sluggishly for most of the Commission, without advance nodee, im- 
year. he recalled, the index for foreign-cur- posed the 10 percent limits on how much 
rency stocks, those available to foreigners and stocks could rise or fall in a day’s trading. The 


to Chinese living abroad, shot up dramatically 
in early December. A graph line on Mr. Dai’s 
screen shows an almost vertical climb, like a 
rocket era takeoff. Fortunes were multiplied 


move was announced after the close of trading 
on a Friday, effective the following Monday. 

On that Monday, Dec. 16, the official 
People’s Daily published a front-page corn- 


several times a week, and it looked like chain- mentary complaining that the Chinese stock 


pagne corks would be popping all around 
China’s financial hub on New Year’s Eve. 

But suddenly, beginning on the cold 
Monday morning of Dec. 1 6, the index began 
to plummet as fast as it had risen. The 
foreign-held stocks. 


called B shares, _ ^ of a crash similar to 

crashed hard, along ‘Stock rallies are bound to the one that devast- 

with so-called A i , , , , D ... aled American for- 

shares held by those *ead to Stock crashes, Beijing tunes in 1929. 

warned neophyte investors. “Stodf I ^ Uies 

sign connections. * J bound to to stock 

Within minutes of crashes,” the article 

the market’s opening, many of them reached said. “There is no stock market that always 
the 10 percent loss limit that unexpectedly grows and never drops.” Like their American 
had been set by China’s regulators — then counterparts hanging on utterances from Fed- 


market was so overheated as to be ‘’ab- 
normal and irrational.” It went on to warn 
that investors should abstain from excessive 
speculation and, in an ominous note, added 
that the government would not step in to save 
the day in the event 


‘Stock rallies are bound to 
lead to stock crashes, 5 Beijing 
warned neophyte investors. 


did it again the next day, and the next eral Reserve Board Chairman Alan Green- 
Tbe Shanghai A-share index still finished span. China’s security traders got the message 
1996 with a gain of 69 percent But, after fast The indexes came crashing down, max- 
finishing ^3.20 pointe Thursday, a: 958.19, ing losers out of many neophyte capitalists 
the index is down 26 percent from its peak of gambling that prices would shoot up forever. 


1306.78 reached Dec. 9. 

The Shanghai B-share index gained 41 
percent in 1996. but after falling 138 points 
to 65.74 on Thursday, it was 22 percent 
below its peak of 84.63 readied Dec. 10. 

Government intervention on two fronts 


made thousands of investors leave the mar- for a swift resale. 


Brokets said the government had moved in 
part because of signs of market manipulation. 
In addition to the dizzy price rises, volume had 
risen too quickly, they said, leading to sus- 
picions that some institutional investors were 
buying only to push up prices in preparation 


ket in mid-December. 


Although prices have settled down, brokers 


here predict the Chinese securities market will 
continue to expand at its rapid pace. The 
government has understood as well as private 
entrepreneurs thai issuing slocks is a good 
way to raise capital for all kinds of industries, 
including ailing state-owned corporations. 

Zhang Dongsheng, a deputy director of 
finance and banking at the State Planning 
Commission, told the official New China 
News Agency last week that the government 
planned to move quickly to put more such 
firms on die market- Top priority will go to 
large and medium-sized enterprises singled 
out for development by the governing State 
Council, he said. 

The number of companies listed on the 
Shanghai and Shenzhen stock markets rose to 
520 from 323 in 1996, and the value of shares 
issued totaled $13.1 billion, Mr. Zhang said, 
whDe the number of Chinese people with trading 
accounts rose to 21 million from 12 million. 

■ Regulations for New Issuers 

China’s newly listed companies must 
standardize their operations, must not boy and 
sell their own shares and must use funds raised 
in accordance with the public offer statement. 
China’s securities chief said Thursday, ac- 
cording to a Reuters dispatch from Beijing. 

In remarks published in the China Se- 
curities newspaper, the chairman of the 
China Securities Regulatory Commission, 
Zhou Daojiong, said the commission would 
punish offenders strictly. 

Separately, the Shanghai Securities News 
said trading volume on China’s exchanges 
rose to 2.10 trillion yuan ($252 billion) in 
1996 from 400 billion yuan in 1995. 



Ki^l^t^Composite . ■ ,;;li230JS3 ■ ,1,237.06 



New World Development 
To Shift Focus to China 
After Sale of Hotel Unit 

Bloomberg Business News 

HONG KONG — New World Development Ltd. sold its 
hotel-management aim this week to cash m on a recovery in 
the hotel industry and financ e an expansion closer to its Hong 
Kong base, analysts said Thursday. 

New World, winch owns more property in China than any 
7„ otter foreign company, sold its 543 percent stake in Renai- 
ssance Hotel Group NV on Tuesday to Doubletree Corp. of the 
United States far about $7 80 minion, or $2530 a share — 49 
percent more than Renaissance Hotel's issue price when it began 
trading an the New York Stock Exchange 15 months ago. 

New World win receive about S270 million in cash and the 
rest in Doubletree shares J\nalysts said New Wodd would own 
about 133 percent of Doubletree after the deaL New World 
shares closed unchanged at 5235 Hong Kong dollars ($6.75) 
“After years of struggle overseas, I expect to see more 
investment in Hong Kong and China.” Ambrose Chang of 
Daiwa International Capital Management Ltd. said. 

Roderick Tsang, research director at PrimeEast Securities 
(H.R.) Ltd., said, “For many investors. New World's in- 
vestments in Hong Kong and China are more profitable, and 
it’s better for the company to develop its business here.” 
China projects announced by New Work! in the past few 
months include tin initial agreement to invbsr$200 nriHibcr fo 
power, port and road projects m the city of Yantai, a proposed 
$600 milli on Chinese film theme park and hotel complex in 
Guangzhou, and a $213 million contract to build three toll 
bridges in that southern city. New World is also investing 
more aggressively in Hong Kong, where residential property 
prices rose by one-third last year. Analysts forecast prices will 
rise at least 15 percent this year. 


BULLS: Profit Growth Holds the Key to Bull Market in the U.S. 


Continued from Page 11 

few voices proclaiming that stocks were a 
good long-term investment Now, with 
the Dow well over 6,000, there are many 
who believe in stocks. The 1996 advance 
for stocks was particularly impressive in 
that it cam e without the support of the 
bond maiket Treasury bonds went up and 
down bat ended with prices a little lower 
than at the start of the year. ’ 

Bearish voices in recent years have 
largely been discredited as prices have 
risen and then risen some more. 

Still, in a normal market there would be 


good reason to be cautious now. Valu- 
ations are not low by any measure, and 
runs like the one of the past two years have 
most often been followed by disappoint- 
ments. The Leuttold Group reports that 
valuations — as measured by dividend 
yield and price/earnings ratios on the 
stocks in the Standard & Poor’s 500 index 
— are higher now than at the end of any of 
those other big two-year runs. 

Over the past 15 years, the Dow has 
risen 637 percent. That works out to a 
compounded average of 143 percent a 
year, not including dividends. Until 
1996, the biggest such run for the index 


BEARS : Pessimism Gets Even Lonelier 


Continued from Page 11 

pected a correction of 10 percent to 30 
percent “pretty soon.” the message 
was not widely appreciated: Two days 
later, the Dow Jones industrial average 
jumped 126.87 points. 

Perhaps with such strength in mind, 
the would-be bears are stnltingly cau- 
tious about their caution. Mr. Shuiman, 
for instance; altered his model "invest- 
ment portfolio allocation in early 
December, cutting stocks to 45 percent 
from 50 percent and increasing cash to 
20 percent from 15 percent. “1 did that 
with some trepidation, because that’s 
been the wrong side of the argument for 
quite a long time.” Mr. Shuiman said. 


Even if there is a correction, analysts 
are far from sure whether it would re- 
semble the old-fashioned plunge that 
investors fret about whenever the Dow 
falls more than 70 or 80 points. 

Always on the lookout for signs that 
the bull market may have peaked, Mr. 
McManus pointed to “the renewed pop- 
ularity of the cigar,” indicating “money 
to burn.” t .... 

But even tins, Mr. McManus wrote 
recently, “is not an urgent alarm that the 
long bull maiket is over.” 

Ratter, he said, it is “a subtle hint of 
broadening complacency, hubris per- 
haps, suggesting that some portion ofthe 
market's cumulative gain may go up in 
smoke.” 


was 558 percent, or 1 3.4 percent a year. 
That run ended with the third quarter of 
1 929 and was followed by a crash and a 
market that took a long time to recover. 
Fifteen years later, the Dow was still 57 
percent below where it stood at the end 
of the third quarter of 1 929. 

But perhaps this is not a normal mar- 
ket. It has risen in large part because the 
baby-boom generation, confronting re- 
tirement in a decade or two. has become 
convinced that no other way of saving 
can provide the returns that are needed 
for a comfortable old age. 

If money keeps pouring into the stock 
market, both directly and through mutual 
funds, then prices can keep rising. In feci, 
those investors got a little more cautions 
in late 1996 than they had been earlier in 
the year, and that showed in relative per- 
formance. Money was less likely to flow 
into smaller stocks than into larger ones 
that were presumed to be safer and easier 
to sell quickly, should the Deed arise. 

The Russell 2.000. an index of the 
stocks ranked from 1.001 to 3.000 among 
the most highly capitalized U.S. compa- 
nies. never got back to the peak it reached 
in May. even as indexes of larger compa- 
nies were setting records repeatedly. 

If one is looking for trend reversals, 
however, the sell-off Tuesday, the last 
day of 1996, hit large stocks much 
harder than small ones. But perhaps the 
big-stock bulls had begun their New 
Year’s celebrations a little early and 
were not around to put in buy orders. 


Source: Telokurs fmcmariooid Herald Tribune 


Very briefly: 


• Hong Kong stocks dropped sbarply on jitters induced by 
Wall Street’s 100-point plunge on New Year’s Eve and amid 
concern that rising interest rales would curb growth in cor- 
porate earnings. The 33-stock Hang Seng Index fell 248.01 
points, or 1 .S4percent, to close at 13,203.44. 

• The Stock Exchange of Thailand's composite index fell 
28.44 points, or 3.4 percent, to 803. 1 3: analysts cited fears that 
the new government’s policies would not do enough to help 
the country’s faltering economy. The drop followed the 
release of the December consumer price index, which showed 
that inflation in 1996 was at its highest level since 1990. 

• China opened its first wholesale market for computer 
software and electronic publications in Beijing as part of its 
battle against copyright piracy on such products, the Xinhua 
news agency reported. 

• Yaohan International Holdings Ltd., the unprofitable 
flagship of die department-store empire owned by Kazuo 
Wada, a Japanese businessman, plans to raise 612 million 
Hong Kong dollars ($79.1 million) by selling a shopping 
center in Macau and shares in its most profitable unit, Yaohan 
International Catering Ltd. 

• The Philippines' president, Fidel Ramos, said the country’s 
gross domestic product grew about 63 percent last year. 

Bloomberg. Reuters 

Malaysian Steel Bailout 

Crwtyiied by Our Sk# Fran Dispanhet 

KUALA LUMPUR — Malaysia will pay off Perwaja 
Steel Sdn.’s debts, estimated at 6 billion ringgit ($2.37 
billion), to start the rescue of the steel company. Prime 
Minister Mahathir bin Mohamad said, according to 
Thursday editions of the New Straits Times. 

Mr. Mahathir also confirmed that the closely held steel 
company Maju Holdings Sdn. would take a51 percent stake 
in Perwaja. TTie state of Terengganu will have a 19 percent 
stake, and the federal government, a 30 percent stake. 

Lim Kit Siang. secretary-general of the opposition 
Democratic Action Party, criticized the plan, butanalysts 
said it had removed a major stumbling block to a turn- 
around of Perwaja. Still, “Maju would still need to 
restructure Perwaja’ s finances to ensure it will not incur 
any more losses.” said one analyst, who questioned 
whether Maju would have the expertise to manage the 
job. (Bloomberg. AFP, Reuters) 


INTERNATIONAL CLASSIFIED 


TODAY'S 


HOLIDAYS 
& TRAVEL 
SECTION 

Appears 
on Page 9 


Annou n cem ent s 



Lowest Inf I 
Telephone Rates! 

Cal 71* USA Frwr 

Germany SUB 

UK S025 

Fanes 1032 

Sroteatend SL36 

Sweden 8125 

SauS Arabia , JDJS 

Cal Fa Al Rates 
ZftCooniMta 
April WMcona! 

KaHllait 

Tat V407-7774222 Fat 1-407-777-6411 
totfflfflc o ratatiB rt 


Business Travel 


Ist/Busness Ctas Fraquert Trwdas 
WnkMde. lb to 50% A No coupons, 
ns restrictions, tapered Canada Tat 
1-514-341-7227 Far 1-514-341-7998. 
e-mail address: snperialftofllnjret 
Wtp^www login rwtitapgta 


International 
Herald Tribune 
ads work 


COWANES & TRUSTS 
ASSET PROTECTION 



B you enjoy rearing foe IHT 
when you travel. 

also gel 9 at home? 
Sameday defiwry Ewafebte 
in key U.S. tifes 


TRUSTEES LTD 

19 PM 1iH4D«0M.UB of ten 
Tet mSM B88S1 
Far 01894 B2S12B 
London Ttef TTI) 222 8686 
FtC (171) 233 1519k 
E MM Ho. asfan O a rta rp rtmat 



Auto Rentals 


RENT AOTO DERfflFRAIJCE 
WfflfEND: FF515. 7 DAYS: FF150O. 
TB: PAHS *33 PHI 43 68 55 & 


Autos Tax Free 


HHWPE AUTO BROKERS* 
TBtH*nJ3W»»ffl6«84 Ftfowe* 


Legal Sente 


DHQRCE a » ns. laq*. ftoTwd 
StaCB 195B.Ttt ++972*1718232. Fa* 
3725.7718294. tafiJtam.bOtnsn- 
etcantfmB* Corifefcl l Sam 


ovoflcc may csmasi ■ 
Cat crF* (7W) 96&*S5 Wae: 167B7 
BeatiaM4W.lta*e£»&adi 1 « 
sesiBUSA- - «WBn«juHux» 


DIVORCE n 1 DM. NotoM 
Bp 377. Sodbay. IU Cl 775 USA Tot 

5D8M438387. Fk 508M4I81 


PRHEBANK 


No ccrawsai unfl 

BtPBE SanWWE 
Needed to ** ““"P" 

Rrasa reply in Engfeti 

VB4TURE CAPITAL CONSULTANTS 
i —n anrt banters 
16311 ySuoBM, SuBi 889 

Beta MhmaeH* usa 
T aL (818)7890® 


YOUR OFFICE M LONDON 

Boid Sreri ■ Mai. I ^ 1 , T fS» T 1 w 

Tet 44 171 «9 9192 F» 171 499 7517 


RANGE Wfc Ask 

Tdlt0]|41 *3 9385, 

^ 43^7a 

GBHUNT, AUSOKS (B4IUU.HMK; , 


T«L flag 971 2 SMl 
fisc (0691 971250-70. 

B&OUM* UBIBOURGe BmmL 
I di tag 344-2509, {02| 344-01 17 
FacPXq 3460853. 

OSCE A CYRUS: Aim. 

T«L- 301/6851 525. 

Free 301/6853357. 

MAMfc HebUS. 

TaL 646500. 
toe 646 508. 
va-.M*o, 

T4L 58315738. 
toe 583 2093B. 


T«L 31.206841080 
toe 31 .20488] 374. 
NOtWAY&SWHSt 

toe W\ 35 913072. 
POCKJGAL li±m, 

TJj 351-1-457-7293. 
far 351-1-4577352. 

roatj- ■» i ■ 

Jniv nxuxL 

Td: 4572856. 
toe 4586074. 

swnnRMftPub, 

W-P211 728*21. 
fee £21)728 30 93. 

UNIED KMGDQft lendoo. 
Ti 0171 {8364802. 
Free (0171)240 2254. 
7k 252009 


NEWYOWt 

Tel: (21 2 752-3890. 

Fox: 512.7558785 
Tee tree: p00| 572-7212 

IATNAMBBCA 

BOUWAiSofcCna, 

T«LL59 13 539900. 
toe (591-3) S3 9990. 

toe 652 8485. 

QUESortoAia*, 

Bins 632 01 26,632 79 37. 
toe 63201 26. 

toe (52J} 682 81 22/687 48 42/ 
5365577. 

WDPIEEAST 

UNIB>A8MEMBA'IE5c5toi^ 

TeL (06)351 133. 
foe pd 3748888 
He 68484 TB4GU 

ASA/PAOBC 

HONGKONG: 

TjL {852)2922-1 188. 

Tk. 61170 H1HX 
toe |852) 2922-1 190. 

atGAKXE 

Td- 223 647S 
toe 325 064! 

Ik 28749 H5K 

JAMftTolcw, 

W_ 32 0102 10 
Ik £0671 toe 3201 0209 


REAL ESTATE MARKETPLACE 



Real Estate 
for Sale 


Caribbean 


SAHT MAARTEN, Netherlands Antifes, 
Waatnrt Home on Oyslerpond. 4 bed. 
4 bath, pool, boal dock rflti 2, re. depdi, 
3000+ sq.m. land, (fired ocean access: 
USS75000Q. Fax (561) 272-5101 USA. 


French Riviera 


ST JEAN CAP FERRAT 

In a Itwlous tars® coretfex, 
dianring tea house, 140 stun, 
winning pool pro* garden, odd 
Storage caiar and garage 



KC 96000 Horta Carlo 
to (3771 93 25 IS 00 
Fax (377) 93 25 35 33 
vww.moBBcartu j iefceilBtfp a rfc agance 


CANNES 

CAUF0RNE 

Tnrrttouse. 6 betaans, 6 bsthaams, 
2 tana rooms, 1 [fining room, terrace, 
SMiimg p od We ar on sea air 
oondtoormg, (^wagft . mafcft room 
5 nans Ron Cars. (Agere, 
t um brel Tat «33 (0)6 09 54 11 7a 
Far +33 (OH S3 68 M B. 


CAP PER RAT WATBUflOWT JEWEL 
Unquefy faeautU 4-berfcnom vfe. One 
d a teal Private beech & bore jetty. 
S15M +377-OJ7835198F ax377-935(J71 97 


Great Britain 


HOII&SEARCH L0MXW LTD Let us 
search ta you. We find homes / fires 
(o buy ana rent. Far nSvkUels and 
companies. The prethasare protesster- 
ate. 7 dare-a-wert. Tet. +44 in 636 
1066 Fbi + 44 171 838 1077 

toteJhmJaxneGearchimd'tam 


POSfTAHO - AMALFI COAST 
For safe prestigious wZa, Entered or 
to, nofeetang me sea • 2 apartrans + 
guest house - t waning pod on the 
rode. The ifla is oarad by an onshore 
company tot (Sarizertsndj +4191/B82 
92 48 



Monaco 


MONTE CARLO 

■SUN TOWER* Carra dot, *«x» Ire 
148 sqm, big tataca, Mig roan, 

2 bedroans, 2 bahs. ttchea, miffs 
moo. Owtoateig sea. rtaresting price. 

AAGEDI 

9. Bd das Morins. MC88000 Monaca 
to 377-92 1659 59 to 87783 50 19 42 


Paris and Suburbs 


16th, FASAN0BVE, next to Ava Fort. 
Top floor. 92 sqjn. + terrace 33 sqjn. 
Uvmg, 2 bedrooms + maid’s rooms, 
paokngE & stufio Tet 04 8373 W4& 


1st PALAIS ROYAL Class, betonged to 
lbs Artoineitfs dressmaker. 4 rooms, 
75 8 qjtl + rnaifs room 3.75m hnh ce*- 
Ings. cater. F2U. Office (0) 1 43*0206 


USA Residential 


BEST KEPT SECRET n IBAM 
RATH) A CHEAT BUY 
FOR 0«.Y $460009 
Specaafer Panoramic Weferfrori Views 
275 sp.ni Decorator festered Corxto 
arfh Ueitte througtox 
2 Bedroans, 2 VS Baths 
Presftto* Guarded Progeny 
less than 15 minutes From 
W1 Airpon & terms Sash Beach 
Esserielly bantered ’ toady to mow H 
Safe by Owner (Brokers Protected) 
USA How 0&1 -305-7546000 
Fac 001-3058390955 


Real Estate 
for Rent 


Germany 


BERLM, West-Centraly located, superb 
fiat (70 sqjn. 2 magrefcont receptors, 2 
double bedrooms. 2 spaoous bates, 
prod's OoeXroom. Large, modem, triy 
fteed kitchen, breakJad room, pariong. 
Tet (48) 3234 I182atex{49) 3034 B21B4 


Holland 


RBUN0USE H1BMTIMAL 
No 1 in Hofend 

tor fceni) tentecd housesfflbb 
Tte. 31-20-B448751 to 31-288466609 
Nliown 19-21, 1083 Am Amstaaent 


Paris Area Furnished 


12th, 110 sq.au 4 -bedroom fire (TV. 
VCR, K6) + paten 1 year from March. 
F1050MTO. I* Conan +33(0)144685797 
■toy a +33(0)143454578 later 7pm). 


Capitals* paotnbis 

Hanttari e d ferity apartnato al sias 
Pans and sUubs 

to+33P|H614B11. Fax (3)1-46148215 
We help yoo best >. 


PICASSO'S MONTUAHTRE. 1 mm. to 
Bateau Later. LLS otmar rerts charm- 
ing, tuly aqupped 2-room apartment. 
Cable TV. tdete for bufeassman or cou- 
pk Watt F1.5S0 net, moth F63» net 
Tet (0) 141 43 93 84 o&ce after 10am 


BEAUBOURa adorrete, fresWy parted, 
al modem & fully equipped 1 -bedroom 
Bal Top floor, toe of Igtl 6 merths or 
more. F7.500 net Owier (0) 1 42724175 


7th, LES HVALDE5. Darrring 2 bed- 
rooms, tering/tfinirg room, new kitchen, 
garden vfetelenaca Tet 45 51 62 28. 


Paris Area Unfurnished 


PARC MONCEAU 

Piesogas apertment, newly redone, 

3 receptions + firing, 4 bedrooms, 

4 bates ♦ matfs room. 
FF3SJ00 t FF5ZI0. 

LA GRAWERE TEL +33(0)1-42247700 


BOSTON. HA. 2 1/2 badrooms wth 2 
bates & Us pafc. Spacious peAouse in 
aerator buUng in Boston's Bach Bey. 
Great news of Charles Rhrre & Boston 
sfcyfem. Arafiabie Feb 1-Uer. 30, 1997. 
$4200ftno. (wfei parkmg). 617-96B43S4 
Fat 617-332-7991 USA. 


r nrjsa iu. v : ‘ KTM ■ 


LISBON - PORTUGAL 

Piece of land located in prestigious prime property 
area of the dty of Lisbon. 

Planning permission already obtained for a building 
comprising offices, shops and a car park 
with a capacity of 340 vehicles. 

Total area of building - 25,000 sqjn. 




For further information contact: 

ACTEi, SJL 

Av. Casa! Ribdro. 46 - 6o - 1000 LISBOA - PORTUGAL 
Tel: 01 - 352 6979 - Fax: 01 - 352 74 73 






Florida - Fort Lauderdale 
Bfiek auf Atlantik - PENTHOUSE 

Henschafdicher Besitz (180 sm). mobliert, an phantastischer Lage 
zu verkaufen. US-S3O5000. Unterstutzung bei der Fiaruderung. 

Anfra gen «r Or. Kest Tel. +1-954-938-5355 
(Mootag bb Frroitag 14.00-2300 h MEZ» oder Fax +1-954-938-5244. 
E-mail: riranahoma mhs.eompuserve jom. 


TAX HAVEN 


CAMPIONE - Lake Lugano 

For ale very elegant tots 
and vfflas with fake view. 
immbbiOarc wehnea* 
Tel: ++4191 «975 49 
fttor ++4191 649 63 45 _ 



Free A easy tranfito ol Oenenhip. 
(603 B484S50 - Patrick Haras 
John Hal & AKOctatea. he 
Free (000) 8*88541 -Dart Beranwu 
78S0E. Granada Sconsdato. AZ8S2S7 





































































































































































































-Wv 








INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3 1997 


PAGE 17 


























































13 

19 

24 

5 

“i 

u 
1/ 
X 
2 1 
34 
45 
At 

70 

71 
77 
B2 
94 
14 
21 : 
24 


2 

3 

A 

5 

6 

7 

8 
10 
12 
13 

15 

16 
18 
21 
22 

24 

25 

27 

28 

29 

30 
3! 

32 

33 
IS 

36 

37 

38 
40 

42 

43 

44 

48 

49 

50 
52 

54 

55 

56 

57 

58 

59 

60 
61 
62 

63 

64 
63 
72 

74 

75 

76 
79 


Tl 


AU 


Ex 

Tb 


Mo 

Jai 


Tuc 
J ar 


We 

Jar 


Thi 

Jar 


Fric 

Jar 


PAGE 18 


Heralb3££rUraite 

Sports 


World Roundup 


India Drops Chances 

cricket India was made to pay 
for missed chances Thursday as 
South Africa built a commanding 
position on the first day of the 
second test in Cape Town. 

Gary Kirsten and Daryll Cull- 
in an were both given “lives” 
which they exploited by posting a 
record third-wicket partnership 
against India of 1 14 as South Africa 
reached 280 for four at the close. 

Kirsten scored 103 and C ullman 
77. Luckless bowler Venkatesh 
Prasad saw Kirsten pul down on 
nought by Mohammad Azharuddin 
and on seven by Anil Kumbie. Cul- 
lman was spared on 33 when V. V.S. 
Laxman was unable to reach a mis- 
timed shot off the bowling of de- 
butant Doda Ganesb. (Reuters) 



■lilv''' 1 




Venkatesh Prasad bowling on 
the first day of the second test 


Snieymanoghi Quits 


WEIGHTLIFTING 


Turkish 


weigh tlifter Naim Suieymanoglu. 
known as the “Pocket Hercules," 
retired Thursday. 

Suieymanoglu. 30, had won 
three Olympic gold medals. 

He became a national hero after 
winning his first Olympic gold in 
1988 at Seoul. He also won seven 
world championships; two before 
defecting from his native Bulgaria 
in 1986. 

Zn the 1 99 6 Olympic Games, the 
4-foot- 11 Suleymanoglu broke bis 
world record with a combined lift 
of 73814 pounds in snatch and 
clean-and-jerk. (AP) 

Dale Brown ic Retire 

basketball Dale Brown, the 
head coach of Louisiana State Uni- 
versity, announced Thursday that 
he will retire after the season — his 
25th with the Tigers. 

Brown. 61, led LSU to the 
NCAA tournament 13 times and to 
toe Final Four twice, be has wot 
445 games and lost 287 in his time 
atLSU. 

“I had a dream of what college 
athletics should be all about," he 
said. “Now, after 25 years, that 
dream is a little tarnished/' (AP) 

French Omit Bonaly 

skating Surya Bonaly. the 
five-time European women's fig- 
ure skating champion, is not 
entered in the European , champi- 
onships later this month, die 
French federation said Thursday. 

Bonaly was listed as a substitute 
on the official entry list provided 
by the French Federation for the 
championships in Paris, Jan. 19- 
26. 

Bonaly, 23. ruptured an Achilles 
tendon in her right foot during an 
exhibition last May and has been 
slow to recover. She won the 
French championship almost two 
weeks ago but her level was judged 
to be insufficient for an interna- 
tional championship. (AP) 




Ohio State’s Dimitrious Stanley eluding Jason S imm ons of Arizona State on the way to a 72-yard touchdown ran in die Rose Bowl. 

Buckeyes Dash Sun Devils’ No. 1 Hopes 


By David Nakamura 

Washington Past Service 


PASADENA, California — Arizona 
State’s dream season had been built 
around the strong aim and magic feet of 
its senior quarterback, Jake (The Snake) 
Plummer, and its fate against Ohio State 
in the Rose Bowl appeared determined 
when Plummer danced between tacklers 
and dove into the end zone for a go- 
ahead touchdown with less than two 

minutes remaining 

What the second-ranked Sun Devils 
hadn’t counted on, however, was a play- 
er who had grown up in Mesa, Arizona, 
just miles from the Arizona State cam- 
pus, but decided to play in Columbus, 
Ohio. 

That Buckeye, sophomore quarter- 
back Joe Germaine, led a 65-yard final 
drive that culminated in a five-yard 
touchdown pass to David Boston with 


19 seconds left that gave fourth-ranked 
Ohio State a 20-17 victory before 
100.625. 

lire loss means the Sun Devils (11-1) 
will not win their first national cham- 
pionship, no matter what happens 
Thursday in the Sugar Bowl between 
No. 1 Florida State and No. 3 Florida. 
Ohio State (l 1-1) has an outside shot at 
the national championship. It needs the 
Gators to win unimpressively over the 
SeminoLes for die poll voters to vault it 
ahead of both teams for die dde. 

For Ohio State's coach. John Cooper, 
describing the game was easy: 
* ‘Greatest victory in history." he said of 
the Buckeyes' fust Rose Bowl victory 
since 1974. 

Plummer's incredible 1 1 -yard touch- 
down run had put the Sun Devils ahead 
by 17-14 with 1:40 left. Ohio State took 
over at its 35 with 1:33 left and Ger- 
maine hit Dimitrious Stanley on passes 


of 1 1, 15 and 12 yards to set up first and 
10 at Arizona State’s 29. 

After a false start penalty, Germaine, 
who had split time with starter Stanley 
Jackson, threw to Stanley in die right 
side of the end zone. The pass tell 
incomplete, but comerback Jason Sim- 
mons was called for pass interference. 

That set up first and 10 from die 19. 
After two incomplete passes, Germaine 
threw over the middle to Boston. Again, 
the ball fell to the ground, but again an 
Arizona State player, this time Marcus 
Soward. was called for interference. 

The Buckeyes had first and goal from 
the 5. Germaine threw to a wide-open 
Boston in the right flat, and Boston 
turned it up for the game-winning 
touchdown with 19 seconds left. The 
extra point attempt was blocked. 

- The Sun Devils’ final drive ended 
when wide receiver Lenzie Jackson 
made a catch, ran to Ohio State's 30 and 


Coupled In Ovr SvffFrrm Dnptxha 

Brigham Young, which felt snubbed 
by the Bowl Alliance, rallied for a 1 9-15 
victory over No. 14 Kansas Slate in the 
Cotton Bowl. 

The Cowboys (14-1 and ranked No. 5) 
took the lead when their quarterback. 


Steve Sarkisian, hit K.O. Kealaluhi with a 
28-yard touchdown pass with 3:39 left. 

Kansas State (9-3$ twice converted on 
fourth down in a final drive to BYU’s 12, 
but Oman* Morgan intercepted Brian 
Kavanagh at die 3-yard line with 55 
seconds left 

Sarkisian was 2 1 -for-36 in passing for 
291 yards and two touchdowns. 

Penn Stare 38. Texas 15 In the Fiesta 
Bowl in Tempe, Arizona, the No. 7 Nh- 
tany Lions (1 1-2) dominated the second 
half for their fourth straight bowl victory 
and the 18th bowl victory for coach Joe 
Patemo. Five plays after Kenny Watson 
returned the second-half kickoff 81 yards 
to the Longhorns’ 19, Aaron Harris 
scored from five yards out to give Penn 
Stales 15 - 12 lead. Texas (8-5 andranfced 
Nc. 20) tied the game, but Penn State 
scored on its next two drives. Curtis Enis 
had three TDs for (he Nittany Lions. 

In gomes reported in some editions 
Thursday: 


Ttoi Mm 18 , W o rtlnmt > i »a In Or- 

lando, Florida. Peyton Manning left his 
fans wanting more, but the Northwest- 
ern Wildcats saw enough of Tennessee's 
outstanding junior quarterback. 

In what might have been his final 
college game. Manning passed for 408 
yards and four TDs and ran for another as 
the ninth-ranked Volunteers beat North- 
western for their second successive Cit- 
rus Bowl tide. 

Manning, who has until April to decide 
whether to make himself eligible for the 
National Football League draft, shredded 
Northwestern in the first quarter for 21 
points and mamtained his poise in the 
race of a second-quarter comeback by the 
1 Ith-ranked Wildcats (9-3). 

When Northwestern took advantage of 
a string of Tennessee penalties and mis- 
takes to pull even with three touchdowns 
in a span of 5 minutes and 18 seconds. 
Manning calmly regained the lead with a 
67-yard touchdown pass to Joey Kent He 
then threw for five consecutive first 
downs to put the Volunteers in field-goal 
position, and Jeff Hall made the 27- 
yarder for a 3 1-21 lead. 

The Volunteers* fans in the crowd of 
63.467 chanted “One more year!" as 
the game ended. 

“It’s extremely flattering; the players 
were kidding me a lot." Manning said. 
"But I feel most of the fans are behind 


me no matter what 1 do. It was a whole 
lot of fun, die entire game.” 

A laK a m a 17, Wchigan 14 Alabama's 
defense wouldn't let Gene Stallings's 
retirement party end on a sour note. 

Dwayne Rudd returned a fourth- 
quarter interception 88 yards for a 
touchdown, and the 16th-ranked Crim- 
son Tide closed out the Stallings era 
with a victory over No. 15 Michigan in 
the Outback Bowl in Tampa, Honda. 

Alabama's players hoisted the retir- 
ing coach onto their shoulders for a ride 
to midfield before Stallings officially 
turned over the reins to his defensive 
coordinator, Mike Dubose. 

Michigan led 6-3 in the fourth period 
and was threatening inside the Crimson 
Tide’s 15-yard line when Alabama’s 
Kelvin Sigler hit Brian Griese as die 
quarterback released a pass, and the ball 
floated to Rudd, a 245-pound (II 1-kilo- 
gram) linebacker, who made the inter- 
ception and rumbled up the sideline to 
put Alabama ahead, 10-6. 

North Carolina 20, WM Virginia 13 

Oscar Davenport threw for one TD and 
ran for another in his first career start as 
die No. 12 Tar Heels beat the No. 25 
Mountaineers in the Gator BowL Dav- 
enport completed 11 of his fust 14 
passes as the Tar Heels (10-2) opened a 
17-3 halftime lead against America’s 
No. I -ranked defense. (NYT. WP. AP) 





FRIDAY, JANUARY 3, 1W 



EncGayfTbe AaodatdPtcB 

BYU’s Tim McTyer, poshing Kan- 
sas State’s Kerin Lockett out of the 
end zone to prevent a touchdown. 


•;/’ a 


&: 



was tackled as time expired. 

Drama was not reserved for die last 
minutes of the game, la the second 
quarter, with die Buckeyes leading 7-0, 
Plummer lofted apass to wide receiver 
Ricky Boyer, whom comerback Ant- 
oine Winfield appeared to bump at Ohio 
State's 4. But Boyer used- the bump to 
himself into a dive. He didn’t 
I until he bad his hands on die ball a 
yard into die end zone. The referee 
signaled a touchdown, but television 
replays appeared to show that the ball 
had bit the ground. 

. After a third-quarter field goal by the 
Sun Devils, Ohio State retook die -lead 
when Stanley caught a slant down die 
middle at die 50, broke a tackle by Sim- 
mons and sprinted to the end zone to give 
Ohio State a 14-10 lead with eight 
minutes left in the third quarto: The 72- 
yard play was die Buckeyes’ longest pass 
in a bowl game ami longest this season. 


Brigham Young Rallies to Win Cotton Bowl, 19-15 


Irvin’s Alibi: § 
NotPresent 
In Rape Case 

He Was at Sports Bar, 
Cowboys Star Says 

The Associated Press 

DALLAS — Michael Irvin, toe Dal- 
las Cowboys star receiver, says be was 

aiaspombartfae nighta woman Sffldbft 

bdd agun to her hefiri while ateaimnate 

and another man raped her. a Texas 

she was raped at the borne of Erik Wil- 
liams, a Cowboys offensive bnemaru on 
Sunday night. Irvin denies being at Wil- 
liams’s home that night and said be 
looks forward to talking to police. __ ~ 

One of Irvin’s lawyers, Anthony - 

cos, told the Fort Worth Star-Telegram 
that Irvin says he was at Cowboys Sports 
Qfe in Irving most of die evemng. 

Anotber of Irvin’s lawyers, Royce 
West, said Thursday on ABC’s "Goo d 
Morning America" that he can prove 
his client was not at Williams’s house 
Sunday night because the security guard 
at the gated complex says he did not see 
Irvin. . 

"That security guard wul state Mr. 

Michael Irvin never went in that security 
gate, never went to TMk W ill ia ms ’s 
house Sunday night," West said. ■ 

A manager for Triad Protective Ser- 
vices, which hrm/flnsi security for Wil- 
liams’s community, said the guards are 
not required to keep a list of visitors. 

Meanwhile, the woman's estranged 
husband told The Dallas Morning News 
that he doubts her story. Tire man, 22; 
who was not identified, said she has 
twice falsely accused .men of sexual 
aaamlt without telling the police. 

•' "It seems very reasonable that she is 

malrfng ibis up,” he said. "She’s very . ' I 

melodramatic. She accused me of doin^?^=s^F 
fliis, and ste accused her fianed before -> 

me of doing this, so I don’t know why 
she wouldn't do it again. ' ’ 

The man, who was separated from his 
wife in 1994 aftertwo years of marriage, 
said she told -him she met the players 
while working as a waitress and dancer 
at a Dallas topless dob. 

The husband said she briefly -lived 
with two players and "would brag to me 
about Irving with- toe Cowboys. . ' 

Two friends of the woman said that 
she met iheplay era while doing makeup 
fear the Cowboys cheerleaders and that 
she woifcs at;a cosmetics counter in a 
malL 

The two friends, who asked not to be 
identified, have said they doubt she 
faked file report They said they con- 
soled the woman the morning after, the 
reported rape, describing her as bruised; 
distraught and fearfuL 
. Tbemends said she told them thatthe 
men threatened to beat her if she didn’t 
"act like she was having fun" during 
the alleged assault. 

Irvin, Williams and the third man, 
who have not been charged, were ex- 
pected to be questioned by the police 
soon. During a search of Wfibams’s 
house Tbesday, the police seized several 
tapes and a video camera. Irvin, 30, is on 
probation for a drug offense after plead- 
ing no content in July to cocaine charges. 

At his sentencing, the judge threatened to 
put him in prison tor 20 years if he 
violated probation. 

‘Tin also looking forward to seeing 
how you guys go rewrite, reprint, rerun 
all these things about what happened 
Sunday night when you find out that I 
wasn’t even at Erik’s house, ’’Irvin said 
Wednesday. “Fm real anxious to see 
how that’s going to happen. Can youren 
it. with the same intensity that you rah 
this other stuff?" 

Barry Switzer, (he Dallas conchy said 
Williams and Irvin are expected to play 
in Sunday's NFC divisional playoff 
against tire Carolina Panthers. 

Switzer said he did not expect' any 
charges to be filed. 

. "I don’t think that anything’s going 
to ha ppen . Why in the hell haven't they 
been arrested right now?" Switzer said. 

“ Why <frd the pohee departzneot have a 
press conference and not even arrest ; 
anybody? It kind of stinks." 




Scoreboard 


atEDNCSOJn’.MN.I 
OUTBACK BOWL. AT TAMM, FLA. 
Alebonw 17, Michigan 1 J 

CUUQR BOWU U MCKSONVUe.ruL 

North Caroline 2ft West VbgWo 13 
cmw 8 som.jroNUMM.RA. 
Tennessee 48. ffofliwesfem 28 

COTTON 80WL AT DALLAS 
Brtghom Young 19, Kansas Stole 15 
NOSE BOWL. «T MWBW. CAL* 
OWoStttm Altana SMs 17 

REST* BOWL AT 1EMPEAMZ. 
Penn Stole 3 & Tens IS 


BASKETBALL 


NBA Standimob 


Montreal Beats Dallas to Extend Road Streak 


Son Antonio 

7 

20 

Oemrer 

fl 

22 

Voncouver 

6 

25 


PACsuomaoN 

LA. LakaR 

22 

9 

Scuffle 

21 

ir 

Porfiond 

16 

IS 

Cuffmuarik 

13 

18 

GoWen State 

11 

IS 

LA. Cffppen 

11 

19 

Phoenix 

10 

19 


2S9 lSli 
SA7 16 
.194 1 B>j 


.710 

J6S6 

.516 

A\9 


I 'A 

6 

9 


Color ado 

Edmonton 

Vancouver 
Amrtwfra 
Sai Jose 
Gutter* 
im Angeles 


51 135 90 

3> IS 134 
33 108 123 
33 110 118 
S 97 117 
31 96 715 
30 101 W 


J 79 ID 
367 m 
J 4 S 11 


2-3 


WOWS* AND WESmSMY 


NHL Standings 


unsweoNmna 

rnuumcamsKM 






1 


W L 

T 

PH 

GF 


uimeai 

men 

a 


r'TncaEfpna 

24 12 

3 

51 

125 

95 


ATLANTIC WHUDW 



Ptotzto 

X 70 

9 

49 113 

92 


W 

L 

Pet 

ce 

N.V. Rangers 

20 16 

S 

45 

141 

113 

Miami 

23 

7 

.767 

— 

New Jersey 

20 13 

3 

43 

100 

90 

New Yen 

21 

8 

.724 

i% 

Yteh&ttton 

16 20 

3 

35 

105 

109 


15 

74 

.57 7 

7fc 

ILY.islantm 

12 17 

8 

32 

95 

106 

Orlando 

10 

16 

385 

11 

Tampa Bey 

12 19 

5 

29 

103 

115 

New Jersey 

8 

19 

396 

134 

NOnmCAST OnRSKlN 


rawest* 8 

20 

JB6 

14 


W L 

T 

PH 

CF 

CA 

BC3W1 

6 

21 

332 

15ft 

8uffdo 

20 IS 

3 

43 

114 

103 


CSNTHU.DM90M 



n&riwfott 

19 15 

4 

42 

135 

123 

CNesgo 

27 

4 

m 

— 

Harttort 

17 14 

6 

40 

113 

120 

Defmff 

22 

7 


4 

Murtrtol 

14 18 

7 

35 

126 

137 

Oeyetand 

19 

10 

.655 

7 

Boston 

13 IB 

6 

32 

105 

130 

Atlanta 

16 

11 

sn 

* 

Ottawa 

12 17 

7 

31 

100 

108 

Ctartalte 

16 

13 

SS2 

10 

WU1UMCONHWKI 


MBwoutm 

15 

14 

sn 

11 

CBTTMLnnBSW 



Imflara 

13 

15 

MA 

1216 


W L 

T 

Pfe 

CF 

GA 

ToronM 

10 

19 

■345 

16 

Dariw 

22 14 

3 

47 

114 

96 

mtsnatfi cemma 


Detroit 

20 12 

6 

46 

119 

71 


ubwe5T0ihs»n 



Ptmnh 

SLLaub 

77 17 

4 

38 

ice 

120 


W 

L 

Per 

GB 

17 20 

2 

36 

m 

129 

Houston 

24 

6 

sm 

— 

CWcogo 

15 20 

i 

36 

104 

111 

Utah 

22 

7 

.759 

I'A 

Toromo 

17 22 

0 

34 

119 

135 

Mntesda 

72 

18 


72 

mcmcamsn* 



D0E3S 

10 

17 

J70 

12% 


W L 

T 

Prs 

GP 

GA 


s 10 5 
17 19 4 
16 19 1 
14 19 5 
14 19 4 
13 21 5 
13 21 4 

MBNOMTimnn 
0 1 

FMtta 0 0 0-4 

RnT Period: Hone. Staid Period: A- 

BeBows 4 (Mironov. Katya! top)- TbW 
Period: A-Jwnpi* 6 tVoOc. Soeca) X A- 
Mironov 7 (Korfya, Mom) tttf. OhH « 
go* Ar 64-7-22. F- 1*7-7— 28. Gam* A- 
Hebert. F-VafttesfirwdL 
Basoa 1 I 0-2 

OtfOM 1 2 0-3 

FM Pwrtofc (KMnfca 4 (Mtadnaa 
Yashin) Z B-Dowto la Seand Period: O- 
YasWn 16, 4, CMMgto 17 (CwwoywnrtM & 
B-Octull. CsW.TWlPerle* Nonas** 
oa pat 0- 9-2-5—16. O- 4-12-10—26. 
Goeses; B-TWta. 0-WwJes. 

Hamad g 2 o *-a 

Wcttfcgtoe HIM 

FM Period: W-Bendm2l. Sowed Periw fc 
W*&wfro 22 (Howfcy) W- * «■»» n 
(Janssens, Haoeri ton). 4, Lesriifdiro 3 

(Prtmeeu) (sW. TOW Period: Mono 
Oierifevr & W-ttewtt* 6 tMBen 
Hunter) She* ad g«* H- W3-34. W-6. 
6*4-25. Goa to H-Misnffi. W-Co»W- 
Mound 2 13-4 

MS I 2 2—4 

PM Period! M-Dnmplwwo 13 OteeM, 
poporic) Wi). 2. M-Mgnor 2 SMnonl 
Snod Period: D-UWtoen 7 Oedywd. 
GflOirtdl 4 D-Sydorl (Horvey. (jdydRO k 
M-ReeeM 17 (Danptounb RfnO im 
P l e d: P- W e u we nd yk 10 (L u ng e i&ran nw, 
GBctefaO 7, D-MMienadyk 11 (Rrid, 
ManMR l M-S#*g* M (BanMca. 
MEM 9. Ah ftibaMs 2 (Wer, Swage) 
10, M-Stavenson 1 (Tudwri Shttl oo go* 
M- (M-7-ia D- SM 4*16—36. CaftE M- 
Tlttxmir. D-Mm Hook. 


WndiesMr Unded a Aston VBo 0 
mmmi on I r.u*«poel42poina;2.Ar- 
sen^ 4 a 3 . Manaedir tinned 38 . 4 . New-' 
aude 37, 5. Wlmbttdon 37, 6. CMn 36 7. 
Aston Vta 35. 


TENNIS 


■ Perm, AUSTRALIA 
CNOUPA 
IMd States Z. AuriroSo 1 
Owodo Rowa (Med Dm dot. meat 
BnoMtaA!tttMta7-4.fr«JuotaCaie«oa. 
UaCod5tote>drtMorttPM»y«if^i Aw- 
ftsfla 7-6 CM). 46 7*6 OSk Male PhSp- 
poosaii and Male BrodO* AiatnOa, M. 
MM GtaeMob and Onado RoUn 7& 

Goods m*Fran»«jc 

hid Mated Gaafla dtt. Mary Pirn 

FroACC. 6-i «-*f Goran Iwnfcaric Qsoda. 
dot Coy Forge*, Ftwce, Mfeft cobw Nani- 
ink and hra MajaL Cnafla Cwrt flg, del. 
Gay ftogri and Mvr Ptamn Fmool fcrTed. 
Urttodam o un d ie s ferta ta dsy W 
anouPB 

Rancata 3. Germany 0 
bkM Sotrtock Roroctta. def. Prria 
8eg«m, Gemooj: 6-L 4X Adrian VblnK, 
femaeta defc Bemd Karftoasor. Gervnop 2- 
6 7-6 {7-4}, 6-Si Adden Uetaoo and n» 
ScMea (tanaflfa. det UtaONraad 
Pem Begemb Gemony, 6-L6-1. 


CRICKET 


1ST DAY OV I 
SOUTH APJMAV*.BOU 
iHMaw.PHK'm* 
South Afticn 1st taniegs: 2864 


The Associated Press 

The Montreal Canadieos are finding 
life on the road a lot more pleasant than 
the intense pressure they feel at home. 

Montreal stretched its road unbeaten 
string to six games Wednesday with a 6- 
4 victory in Dallas. Patrice Brisebois 
snapped a 4-4 tie with 10:04 to play after 
teammate Brian Savage evened the 
score 2 minutes and 16 seconds earlier. 

“Sometimes on the road we don’t 
feel we need to put on a show like we do 

MHtRogWPPP 

at home,’’ said Canadiens center Sebas- 
tien Bordeleau, who assisted on Savage’s 
goal to help the Canadiens to a 3-0-3 
mark in their last six away games. 
"When we get on the road, we’re more 
disciplined and play smarter. Tonight we 
just kept plugging away, and ir paid off 
for us/’ ™ 

The Canadiens have lost their last 
four home games, much to the displeas- 
ure of their demanding fens. 

Joe Nicuwendyk of Dallas scored two 
goals in a span of 1:45 early in the third 
period as the Stars rallied for a 4-3 lead- 
Nieuwendyk notched his 10th of the 

season on a rebound, then added his 1 1th 
on a goalmouth scramble. 

But the Canadiens answered with 


Savage’s 14th goal of the season, and 
Brisebois scored his second to give 
Montreal a 5-4 advantage. 

In games reported in some editions 
Thursday: 

Capttiripa, WM«* 2 Washington paid 
a hefty price for a much-needed victory. 

The Capitals, comfex off their worst 
month in more than 17 years, started 
January by beating Hattrord on Wed- 
nesday. The victory was tempered by an 
injury to Joe Juneau, who will miss 10 
days to two weeks after taking a vicious 
slash from Keith Primeau. 

After Jxmeau took down Primeau with 
a check behind the net midway through 
the third period, ftimeau drove his stick 
into Juneau’s shoulder blade. The Cap- 
itals center immediately dropped to toe 
ice and remained there for several 
minutes before being helped off. 

The injury was diagnosed as a severe 
hematoma of toe left shoulder. 

Primean received a majorpeualty and 
was ejected from tire game, tra Capitals 
failed to score during the resulting five- 
m inure powerplay. 

“I got hauled down. I ustbedvety 
swung my stick and unfortunately I 
caught him on tire sboukte." Primean 
said. ‘/The referee saw it as a real bad 

P ^uaesti ranks second on the Capitals 


with 26 points and leads the team wife 

six power-play goals. 

^ Steve Konowalcfauk scored with 1:59 
left m overtime as flic wtio won 

^^inllgamesfeDe^ber,^ 

^ ^ slra ^ 10811 ^ 
md first defeat m nine overtime games 
tins season. • ■ 

Konowalchuk was attempting a cen- 
toe net, but lfee puck bounced off the 

™ i S altendeIasonMira,ttf 

Down 2-0, the Whalers used a power- 
P^soal by Ri« 

banded score by Curtis Leschyshvn m 
Pa^lateinthe seconffiS 71 10 

Vanatui • 3, Brains a Ottawa] heat the 

Bruins for toe first tarelS 
reiomms tire NUT ™ jdm 01116 


Hdren stopped 

SaS^rSSHj?. VKtory over 






X "r-i 
























- . x - _ jV T-- * - 




cJr;y)CA* vaa 


ENTERj^mONAL HERALD TRIBUNE, FRIDAY, XANlfARY 3, 1997 


'*K'V t ; 

• tV 


SPORTS 


Irvin-, >' lndurain Retires 


«»lPp 




*v 


Spanish Cyclist Gives Up 
ChanceioWin a 6th Tour 


By Samuel Abt 

International Merabi Tribune . 

PARIS . — Ending three 


If lndurain had been think- 
ing all year of retiring, as he 
said Thursday on Spanish ra- 
dio. why was be still nego- 


months of speculation, Miguel dating with a new team in 
lndurain announced Tliursday December? 


m 


::&z • 


that he was retiring from pro- 
fessional bicycle racing at age 
32 and after five victories in 
the Tour de France, : the 
world's greatest hi cycle race. 

“The decision has been tre- 
mendously, difficult forme be- 
cause physically I am in good 
shape and I think I might still 
be fit enough to win die much- 
desired sixth Tour,” he said in 
Pamplona as be read . his 
farewell statemen t Hve on 
Spanish radio. 

Since the Tour started in 
1903, no ritfcsr. has won it six 
times and only Tour men — 
lndurain, Eddy , Merckx, 
Jacques Anquetfl and Bernard 


Ami why, if he was going 
to retire, did he not announce 
this . in October but instead 
wait until the new year, when 
.his. contract with Banesto le- 





gaily ended? 
Finally, vi 


Finally, what are these 
"other things'’ he plans to 
pursue now? lndurain is well 
known for having so few in- 
terests outside bicycle racing 
that, until a public relations 
man wised him up a few years 
ago, be routinely listed his 
hobby as sleeping. 

He has no lavish tastes or 
lifestyle. Despite his wealth 
from his salary and such Ln- 




1 


Jacques Anquetu and Bernard vestments as a big sporting 
Hinault — have won it five goods store in the Spanish 
times. Basque region, he, his wife. 

After his five: consecutive Mansa, and their infant son, 
victories from 1991 through Miguel, live in only moderate 


199S. lndurain finished 11th 
last year,', more than 14- 
minutes behind the. winner, 
Bjarne Riis, a Dane. 


splendor in a ranch house near 

P amp lona and an apar tmen t 

cm the Costa del Sol. 

They rarely travel else- 


“I tried to win the Tour where unless iris to the home 
with all my strength and I did - of his parents in Villava, a 


Thr Anoruhd 

lndurain waving to the crowd in Paris after winning his fifth Tour de France in 1995. 


not succeed.” lndurain con- 
tinued, according to news 
agencies. ‘ 'But I won the gold 
medal in Atlanta” in the, 
Olympic time trial. "It 
seemed die perfect close to 
my sporting career. 

* "I am now going to con- 


centrate on other things,” the races, before he turned se- 
Spaniard said.- "1 feel I have riously to bicycle racing at the 


concentrated enough of my . age of 16 in 1980. Four years 


of his parents in Villava, a mg in 97th. 47th, 17th and for die hour's ride against the 
town near Pamplona, where 10th, in an upward curve from clock, which he held for two 
Indnrain grew up as the son of 1987 through 1990. months in 1994 at 53.040 ki- 

fanners, sharing a bedroom Starting in 1991, he used lometers per hour. He ranked 
with his brother Pmdencio, his extraordinary power in first among the world’s 900 
who is also a racer. time trials, or individual races professional riders in 1992 

As a youth, lndurain was a against the clock, to leave his and 1993. 
star, in several sports, includ- rivals far behind. Despite his To many people, however, 
mg soccer and 400-meter foot height — 1.88 meters (6 feet 2 lndurain was as celebrated for 
races, before he turned se- inches) and weight — 80 kilo- a second place as for any of 
riously to bicycle racing at die grams (176 pounds) — be his Tour successes. The one 


ing soccer and * 


for die hour's ride against the mate on the Spanish national 
clock, which he held for two squad. Just as lndurain was 
months in 1994 at 53.040 ki- preparing to attack again, 
lometers per hour. He ranked Olano did it first 
first among the world’s 900 Rather than pace Konichev 
professional riders in 1992 up to his teammate, lndurain 
and 1993. refused to respond to the at- 

To many people, however, tack by Olano, but watched 
lndurain was as celebrated for him speed off to victory. In- 
a second place as for any of durain finished second, as 


began a loi 
as a strong 
port rider. 


willing sup- 


r, . .me on professional cycling later he.sigDed professionally 
>^Td now I want to enjoy the- with the Reynolds team ana 
sport as an amateur.” began a long apprenticeship 

His announcement was no as a strong and willing sup- 
surprise since it was leaked port rider, 
earlier in the week toMarca,a:< . • In -Y985,jn his first Tour de 
Spanish newspaper that is France,- he.pulled out of the 
dose to the rider. Neverthe- three-Aveek race during its 
less, his retirement raised , fourth daily stage and in 1986 
questions. - .during the 12th stage. There- 


his Tour successes. The one 
also was a strong climber. victory he yearned for was in world championships, and 
Besides the five Tours, he the world road race champi- said that it had never entered 


close as he ever came in the 
world championships, and 


won the Giro d’ltalia, the 
world’s second-tougjbest bi- 
cycle race, in 1992 and 1993. 
but never finished better than 


. In l985,jn bis first Tour de second in the Vuelta a Es- 
France, he.pulled out of the pan a, the Tour of Spain. 


onship and, in Colombia in 
1995, be seemed to be ready 
to claim it. 

Near the end of the long 
race in exhaustingly thin air. 


his bead to counterattack and 
perhaps endanger his coun- 
try's chance for victory. 

"Never has Spain had such 
a great champion,” the di- 


Indurain attacked from the rector of lndurain ’s Banesto 


endec. Neverthe- threer.week -race during its His other notable accom- small group of leaders and left 
r e tire ment raised , fourth dailystage and in 1986 plishments . included the behind all but two riders, 
- -. .during ibe 12th stage. There- world time-trial champion- Dmitri Konichev, a Russian, 


' Since mid-October, when after bealwaysfmisbed,comr ship in 1995 and the record and Abraham Olano, a team- 
the season ended, lndurain V - - 

has been negotiating with the , , 

- Teenager Wins For United States 

ONCE officials said publicly : 

that he had been offered up to ■ .F^^fspcimdPffss^ France 3-Ojn.fee ofeeE Group A march. ... 

$9 million in' annual salary if>v: PERTH.Australia — JustinGimel- Iva Majoli downed Mary Pierce 6-3, 

he would leave the Banesto -dob scored the biggest victory of bis 6-4 in women’s singles, and the Croa- 
also based in Spain. - bcief tennis career Thursday, defeating dans gained walkovers in the other two 


team, Jose Miguel Ecbavani, 
said Thursday after the re- 
tirement announcement. ‘ ‘Ail 
of Spain is saddened.” 


un. also based in Spain. - - brief tennis career Thursday, defeating nans gained walkovers in the other two 

Even when ONCE admitted Mark Flrilippoussis of Australia to lead matches after Guy Forget declared him- 
a month that it was having the United States team into the final of self unfit with blisters on his left hand. 


last month tiiatit was having tire United Stales team into the final of 
trouble firniiiiga co-sponsor to tiie Hopman Cup mixed teams cham- 
reach the $9 million figure, pionship. 

lndurain could have continued Gimelstob, a 19-year-old UCLA stu- 

earning about half that . dent called up as a late replacement, de- 

Banesto warned to keep Teated.Hrilippoussis 7-6 (7-4), 4-6, 7-6 (7- 
him_ and offered another 5), giving the Americans an unbeatable 2- 
y ear’s contract at the roughly 0 lead. Earlier, Chanda Rubin beat Nicole 
$4 million be earned in 1996. . Bradtke 7-5, 6-0 in women's singles. 


Earlier, Romania defeated two-time 
champion Germany 3-0 in a Group B 
match, keeping alive its hopes of ad- 
vancing to the final. 

• In Adelaide, Australia, Slovakia's 
Karol Kucera upset second-seeded Mark 
Woodfbrde 6-3, 6-4, ending the Aus- 
tralian's hopes of winning the Australian 


Among a handful of other of-. ' The Australians won the meaningless Hardcourt championships a third time, 
fens, tire most solid one was. mixed doubles match 6-3, 7-5. American qualifier Jeff Tarango also 

from the Folti team in Italy, . The United States finished on top of advanced to tire quarterfinals, beating 
which also offered many m3- * Group A in the round-robin competition, sixth-seeded David Prinosil of Germany, 
lions in a sport where few- and will face either South Africa, Ro- 6-2, 6-4. Tarango will face Sweden’s 
riders earn above $1 million a mania or Switzerland in Saturday's final. Jonas Bjorkxnan, a 6-3. 6-4 winner over 



Defending champion Croatia beat American Jonathan Stark. 


Tuq McOmnoghfltenten 

Mary Pierce reacting unhappily 
during her loss to Iva Mqjoli. 


Soccer Needs Hiroshima 
As a World Cup Symbol 


Special to the Herald Tribune 

.4 lener loJoaoH melange, 
president of FIFA . and Henry 
Kissinger, retired diplomat. 


Vantage Point / Rob Hughes 


A S ELDER statesmen 
you are uniquely 
placed to appreciate 
the influence soccer has 
where sport, commerce and 
politics overlap. 

I urge you to use your per- 
suasion to prevail upon Japan 
to restore Hiroshima as a host 
city for the 2002 World Cup, 
Many of us who support the 
shared World Cup in Asia 
foresaw, as pan of that vision, 
games in Hiroshima, where 
the first atomic bomb was 
dropped and where citizens 
covet peace and friendship 
through sports. 

Alas, on Christmas Day in 
Tokyo, Hiroshima was erased 
from Japan "s list of 1 0 venues 
for the tournament to be co- 
hosted with South Korea. 

A candle of hope snuffed 
oul An opportunity lost to 
present the game played by all 
peoples as a symbol of unity 
rebuilt out of man's ultimate 
inhumanity. 

Hiroshima, I believed, was 
the biggest reason to attempt 
fee delicate mission of bring- 
ing Japan and Korea together 
as hosts, joining hands in fee 
cause of sport 

Hiroshima has, in recent 
years, staged soccer's Asian 
Cup and the multi-sport Asian 
Gaines. One cannot go there 
without shame, or without 
marveling at the commitment 
to peace and regeneration. 

l believe both of you have 
seen the modem sporting com- 
plex at Hiroshima Regional 
Park. Surely you, Mr. Diplo- 
mat who won a Nobel Peace 
Prize, and you, Mr. FIFA Pres- 
ident who would like such an 
honor, see fee symbolism, the 
opportunity, in Hiroshima. 

The park’s centerpiece is 
Big Arch stadium, wife its 
sweeping, leaf-shape roof 
signifying “a prayer for 
peace and a bridge toward fee 
future.” Ironically, that roof 
— or rather the lack of an- 
other covering fee other side 
of fee stadium — is fee stated 
reason why Hiroshima will 


miss out on 2002. "It was a 
painful decision.” said Ken 
Naganuma, Japan's soccer 
association president. 

The pain for Naganuma, 
after seven years' building up 
his country's candidacy, is in 
whittling down fee 15 pro- 
posed sites to 10 because fee 
cup is shared. The pain for 
Hiroshima is in fee pocket. 

"We did our best” said 
Mayor Takeshi Hiraoka. 
"We deeply regret the result 
but we are not in a financial 
position where we can spend 
a huge amount of money to 
build a roof.” 

The shortfall is 15 billion 
yen (SI 31 million). FIFA 
stipulates feat World Cup sta- 
diums must cover two-thirds 
of tiie crowd in an arena such 
as Big Arch, which seats 
41,806. 

There are two ways to re- 
kindle Hiroshima's desire. 
You, President Havelange, 
could propose to FIFA's na- 
tions a special dispensation 
for Hiroshima. 

What is a little rain com- 
pared to radiation that des- 
cended at 8.15 A.M. on Aug. 
6, 1945, killing 145,000? 

May I remind you. Dr. 
Havelange, feat your en- 
dorsement of Japan’s bid for 
the World Cup stated: “They 
heeded my petition to con- 
sider Hiroshima as a subv- 
enue for 2002.” 

It was a good petition. 
Don't let it lapse now. 

In fee same speech, you 
said soccer generates £225 
billion annually. You are 
proud that nations feat once 
paid their own way to World 
Cups will earn £1 million for 
every game they play at fee 
1 998 finals in France. 

Your business is awash 
wife money. So if you will not 
waive the roofing stricture, 
maybe FIFA could raise 
funds to put Hiroshima back 
on the agenda? Or, imagine 
what a gesture it would be if 
Henry Kissinger, one of the 
architects of the U.S. bid for 
the 1994 World Cup. could 
persuade his friends in Amer- 
ica to lead a financial appeal 


for the benefit of Hiroshima. 

There will be those who 
say Japan is rich enough to 
help itself, that a cartel of 
Japanese industries could 
easily raise fee roof over Big 
Arch. Moreover, soccer in Ja- 
pan is a cash register. The 9 
billion yen that Hiroshima al- 
ways knew would be required 
to cover the rest of its stadium 
is a pittance compared to fee 
50 billion yen that fee J- 
League reaped from its in- 
augural two seasons, 1993- 
95; and minuscule against the 
230 billion yen from licensed 
J-League products. 

P ERHAPS finance is not 
fee sole root of fee 
Hiroshima problem. 
The emerging city of Yoko- 
hama is building a 5600 mil- 
lion stadium for the World 
Cup, one reason why Tokyo, 
16 minutes from Yokohama 
by bullet train, never asked to 
be a host city. 

Where should the Japanese 
cut a venue to restore Hiroshi- 
ma? I would suggest either 
Saitama or Ibaraki. which like 
Yokohama are a short bullet- 
train ride from Tokyo. It will 
hun local aspiration, but not 
nearly so much as fee loss of 
Hiroshima, whose name un- 
questionably swayed the 
votes of FIFA members. 

Across the water, there is 
still hope of fee two K ore as 
becoming one, and of fee 
North becoming as much a 
part of fee symbolic message 
as Hiroshima should be. 

I note. Dr. Havelange. that 
you gave a New Year address 
in which you said: “Only 
football has the power to 
solve fee problems of inter- 
national conflicts. In Asia and 
in the East, we have had foot- 
ball matches between coun- . 
tries in conflict." 

Wife your help, football 
could also helpeveryone of us 
to look forward to Hiroshima, 
rather than backward to its 
past. I wish you and Dr. Kis- 
singer a profound and pro- 
ductive New Year. 

Rob Hughes is on the staff 
of The Times of London. 


Marseille Allegedly Misspent $19 Million 


Reuters 

PARIS — Olyrapique Marseille, France’s 
former European soccer champion, misspent 
101 million francs ($19 million) on rigging 
matches and transfers under fee presidency of 
Bernard Tapie, the French dally newspaper Le 
Monde reported Thursday. 

The paper said the money was spent between 
1987 and 1993 to fix matches by bribing play- 
ers or referees and to lure star players to Mar- 
seille. 

"The most illegal tricks were used in player 
transfers to make sure that the best would join ” 
Olympique Marseille, said fee newspaper, cit- 
ing the final investigative report on the club's 
accounts by the examining magistrate. Pierre 
Phiiipon. Mf. Phiiipon's report has not been 
published. It was drawn up so that a court may 
decide whether the findings justify a trial. 


Mr. Phiiipon could not be contacted on 
Thursday. Officials at the Marseille club de- 
clined to comment 

Le Monde, quoting the report, said Olym- 
pique had misused important sums in order to . 
“reduce or even suppress fee hazards which 
inevitably exist in a football maich.” 

According to the newspaper, fictitious loans, 
false invoices and inflated payments to agents ; 
were among the means Marseille used during 
the Tapie years. Tapie has already been placed 
under investigation for fraud in the affair. 

He is awaiting fee result of an appeal < 
against a two-year jail sentence handed to him . 
in May for his part in a match-rigging case in 
1993.' 

Under Tapie, Olympique Marseille won 
four French titles in succession and played 
two European Cup finals, winning one. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



•W«H i fiETODER, waffle 

RKSty GtVE f*£ A RAISE?" 


I J - *-*■ IMMKMHtHMlH. f 1 ” 

i<| { 111'* an>MMr nodi Dm ( Mnaam 

H 1 feuraWitML I 1 


GOBUH 



VEEN EL 


N1CKES 


WHEN HE 1*5 
LATE FOB OWNS® 
SHEWS 


gmdty 0 *«XMMA»a. 






(MMnwt 

■ to M— 5HXIP HITCH CAJOLE BUCKLE 

. Am r- 

■ imn-ixnaaFPuxac 


Appeals every Tuesday. 
To advertise cdmaci 
Oiristdk*. Forestier 
TeL: + 33 Ml 43 94 76 
Fax: + .13 1 41 43 93 70- 
or jour nttarsIHT ofTiee ■ 
isrrjMSMKatni 1 . 


"uPfWD- Ya ^1 cmonAl shouiTVou 
DO «U WANT («HAT? HOUHf HAND l MEAN., 


A JOB? 


15 KILLING ME 
FROM Aa THAT 

autographing 


5 URE! I HA!/E TO YESTH<JW r 50 MEB 0 Dv\ j 
AUTOGRAPH ALL a WANTED A * JOE J — 
THIS STUFF, SEE? | SHLABOTN 1 K'*OR /j gmjN 
ARE SWA GOOD £ SOMETHIN 6 .. SPELL ! 
SPELLER? ^ | ME A BREAK Jj%ABOTNlK 


RQSAiXN. went GW NS to 
BE k UTOE IMS R WAN 
VC SO 1 TVW&TC 

ID GECTCR CALL'ftX). . 


THAT'S HN£ . CAjjflN WENT 
TO BED EARW. SO I’M JUST 
HOLDING DOWHTVtfOKT- 


lttKQKTHEHWCriS 

imKmrixwrro 

TAUnOUER.' McM'MVt' 
CW'fcMWaRWE?/ 




COME HOME NOW SERDRE 
irsTOOUCIE.' IQf! RHPJ 


no. torts \ 
werTOETY. ) 
ru.SEE.tM I 
KC U 30 TlCk. 
ENJ0N THE Pus. i 


GARFIELD 


WIZARD of ID 


I ^ 



[3?MCWW 1-3 


YOU CAN 1ST &0/AB 
PSAftWS SWIM IN 
THE /MAT TOW Y 


r THATS NICE ^ 
OF 

. How many f J 


i 


BEETLE BAILEY 

OTP YOU GO TO THE ) YES. IT WAS VERY {< 
POUSHNUT SWOP J CRDWPEP ANP THEY f 
FORME? V<. SA1PTDTAKEA { 
_ V NUMBER l 


Veer 


BLONDIE 

fCWER RUUW£ V- 1 ALL fSi I WjSWOOP ViJSTVE SW£D 
-I BOSS/ J. — COMPUTERS THE FlSUlKS FOR OUR ] 
V ARE DOWN.' j we PBESOmcnON 






f weU- \ 
/ let - me 1 

MOAT 

bi MOriSTSW- 
peetpe 
THAT/ 


FM tdar* 


THE FAR SIDE 


DOONESBURY 



THEN A 6 A 1 N, V 
M/S/8E NOT ) 



n*For.isNr rsAH. tvetuse£ 

nr youths rrSFOtz co NTHA ve/t wtsa 

erouKNoror pnarss \poaoR5mmA Penrecr 

on Mr sun- nanatr/N aavsctweieueJ bxamplb 

PBCKJ / THEWUSX I \$£IFBUS7EP{ J OFMHffTI 

'Sink — i y* := V'W ^NGMoan. 


"You est your dirt Billy. You want to grew up 
as b% and slimy as your dad, don’t you?" 



• r; - a : 





POSTCARD 


The Gifts of Meiji 


By Velisarios Kartoulas 

International Herald Tribune 

T OKYO — Nearly four 
million people will visit 
Meiji Shrine this week, a shrine 
dedicated to the spirits of one 
of the founding fathers of mod- 
em Japan. They are making the 
pilgrimage to pray for peace 
and prosperity in 1997, after a 
year marred by more political 
scandals and continuing fears 
of unemployment. 

To prepare for the mass pil- 
grimage, police with metal 
detectors and sniffer dogs 
ducked in and out of bushes, 
groundskeepers raked and 
watered gravel paths to keep 
the dust down and priests ad- 
justed traditional, knotted 
New Year's decorations and 
hovered over the 1-meter-by- 
10- meter collection box that 
visitors each year fill with 
notes and coins for the gods. 

* ‘The first day is always the 
toughest.'' said Masahiko 
Mouri. a priest ar the shrine 
and 12-year veteran of the 
New Year's Day pilgrimages. 
“That's because with around 
rwo million visitors it’s easy to 
slip and fall in the gravel. But 
there are rarely accidents be- 
cause people don't come here 
to fool around. They come 
here to express their faith." 


Meiji Shrine is dedicated to 
the spirits of the Emperor 
Meiji (1852-1912) and his 
consort. Empress Shoken 
( 1 850-1914). in recognition of 
their role in Japan’s modern- 
ization. Mutsubito. as Emper- 
or Meiji was known before his 
death, became emperor at age 
14. when Japan was a feudal 
society and during his reign 
saw it gain a constitution and a 
parliament, undergo an indus- 
trial revolution, form its first 
foreign alliance as an equal 
(with Britain), against all ex- 
pectations defeat China in the 


Sino-Japanese War of 1894- 
95 and Russia in the Russo- 
Japanese War of 1904-05 and 
annex Korea in 1910. “Laier 
generations of Japan will 
probably paint a halo around 
bis image.’ ’ Erwin von Balz, a 
German physician who knew 
him. wrote in his memoirs. 


New Year's Day at Meiji 
Shrine, commissioned in 
1 9 1 3, was never as busy as it is 
today. After its completion in 
1920. crowds were a fraction 
of the size of last year's New 
Year’s Day crowd of 3.9 mil- 
lion because most people vis- 
ited shrines close to their 
homes to say their first prayers 
of the year, known as hat - 
sumode, to the Shinto gods 
that represent ancestors and 
natural spirits. 

But the destruction of 
scores of shrines across Japan 
during the World War II and 
the postwar period of rapid 
economic development left 
Tokyo residents fewer op- 
dons. Meiji Shrine was 
leveled in a 1945 air raid and 
was only rebuilt in 1958. 

The growth of nearby 
shopping and entertainment 
districts have added an extra 
dimension to Meiji Shrine's 
popularity and helped cement 
its position as Japan's most 
visited shrine, ahead of 
Kawasaki Daishi to the west 
and Narita-san Shinshoji to 
the east of metropolitan 
Tokyo. 

“There are definitely few- 
er temples in Tokyo than there 
used to be,” said Takahiro 
Kosho. strolling through the 
grounds of Meiji Shrine with 
his wife and year-old son. 
“But I think the main reason 
there are always such huge 
crowds here on New Year’s 
Day is that it now has a kind of 
festival atmosphere.” 

Russell Baker is on vaca- 
tion. 



INTERNATIONAL HERALD TRIBUNE, FRIDAY, JANUARY 3, 1997 


The Jazzman Who Took On Bach and Vivaldi 


By Mike Zwerin 

International Herald Tribune 

L E VAL, France — The rock 
aristocracy decentralized the 
recording process in the 1970s so 
they could lie back and swim, ride 
horses, and play tennis and pool 
between their trial-and-error takes. 

Rented by the month instead of 
the hour, studios were built in the 
California desert, Colorado can- 
yons, Welsh valleys and the 
Provencal sunbelt Pink Floyd, AC/ 
DC. Steve Winwood, Telephone. 
Sade and Wham, among others, 
recorded in the pianist and com- 
poser Jacques Loussier's Miraval 
Studio, northwest of Saint-Tropez. 

A mansion on its own, the studio 
is one of tile outbuildings on the 
grounds of an imposing 17th-cen- 
tury chateau surrounded by 300 hec- 
tares of rolling hills, vineyards and 
pine forests. Much of the hamlet- 
size compound Loussier fell in love 
with in 1968 was in ruins (the chat- 
eau was roofless). He rebuilt it. 

Vineyards require constant at- 
tention. wine fabrication is a full- 
time job on its own. forests must 
be cared for. In the course of 
events, unoccupied rooms were 
turned into an auberge and a res- 
taurant. Life was a succession of 
masons, plumbers, painters, deliv- 
erymen and swimming-pool guys. 
Thestudio'soriginal 16-track ana- 
log console grew into 48 digital 
tracks with 56 inputs. Friends and 
friends of friends constantly driv- 
ing in looking to party or asking to 
record their suddenly discovered 
vocal talent had to be discour- 
aged. 

It took him eight years to sell the 
property because he refused to sell 
to developers. Finally he found an 
overextended, overworked French 
property-owner’s dream — a rich 
American. In the meantime, tending 
to possessions had burned him out 
to the point where he could no 
longer concentrate on his principal 
career — jazzing up Bach. That may 
sound a bit snide. It is. in fact, a 
literal not judgmental job descrip- 
tion. But there was an incredible 


lightness of being about it all Bach 
already swings. Loussier added un- 
obtrusive bass and drums to fill in 
tiie harmonic and rhythmic implic- 
ations in tiie original. People who 
did not particularly like either 
Baroque or jazz music liked Loussi- 
er's “Play Bach Jazz.’ ’ The concept 
sold 6 million albums including 15 
or 16 (he’s lost count) sequels plus a 
“Best of’ compilation. 

His positive track record notwith- 
standing. there is every reason for a 
priori blood curdling when you are 
warned that' tiie follow-up in the 
works is Vivaldi's "The Four Sea- 
sons." Relax. He's done it before, 
and it looks tike he's pulled it off 
once more (the album will be re- 
leased by Telarc in February). 

Who is this alchemist who can 
turn what would seem to be in- 
evitable dreck into a listening 
pleasure? 

Bom in 1934 in Angers, France. 
Loussier decided he wanted to be a 
musician ar the age of 13. He was 
"instinctively attracted” to Bach. 
He played around with the themes, 
trying to "glimpse Bach through a 
jazz prism.” Nobody suggested it. 
he end not listen to other such 
prisms, it was his own idea. After 
studying with Yves Nat at the Paris 
Conservatory, the idea fell into place 
when he heard the Modem Jazz 
Quartet. Their music seemed to him 
to be an obvious and well-construc- 
ted melange of Bach and bebop. 

Loussier plays tribute to the 
MJQ tune "Django” in his Vivaldi 
adaptation. He beard the song as a 
’ ‘classical piece of music. In a way. 
John Lewis was trying to play clas- 
sical piano. I’ve talked to him about 
it, he ‘s recorded here. One part of 
him desperately wanted to become 
a classical pianist." 

Loussier does not want to be a 
jazz musician, he did not listen to 
much jazz when be was young, he 
doesn’t play clubs, he does not 
know many standards. He de- 
scribes himself as playing "in the 
jazz idiom.” His main concern is 
"to create another approach to the 
music of classical composers. 

“I’m not a great improviser, I 





Jacques Loussier: The road back to “The Four Seasons.’ 


was very shy about it Now, after 
more than 30 years experience, I 
am much more confident of my 
ability to create something that is 
my own. to play something new 
and different.” 

He projects the strength of an 


artist who has gone against tiie 
grain and despite self-doubt and 
criticism (and even derisive 
laughter) lived to thrive telling the 
tale, ft’s dangerous territory — 
there are some who would sentence 
a musician to hard labor for ex- 


ploring. let-alone. expRHting, ft. 
He’s done what’s never been done. 
Well, hardly ever. Try to think of. 
another example. One thing sure — 
jazzing up the classics has never 
been solved with such a stylish 

^^be^Play Bach” trio was top- 
billed in Europe (it never really 
worked in the United States). 
Sometimes it was advertise as 
“Johann Sebastian Jacques, - -and 

tiiat sort of cute take go raftgjfc 
began to get to him. Lu® a good 
actor playing the same role lit i 
successful soap opera, he was a 
schooled musician who round an 
enriching though limiting-tweer 

without having to pay a krt of dntt. 
By ‘1978, feeling trapped by his 
own success, he reared to iris 
southern paradise. ■ '■ ' ■ 

It is no coincidence that the Viv- 
aldi project came to life after 1992, 
when he sold MiravaL (He rents 

bade the studio buiI<fing.)Afl along 

producers have proposed projects 


involving Mozart, Mahler* Rach- 
mmino ff and worse. As far as. they 
were concerned, .it was a money- 
making formula; a cash cow. 
Joseph Conrad was supposed to 
have described a bedraggled hotel 
orchestra in a South Sea dive: 
“They were not making music. 
They were murdering silence.” 

Loussier did not wam to do that. He 

thought about that horrid drumbeat 
somebody once added to Mozart's 
40th symphony. 

Finally he chose “The Four Sea- 
sons” because he’d known and 
loved it since childhood and felt he 
was capable of tending to it with 
care. Tending to- Bach had been 
more or less self-evident; there are 
new harmonies almost every beat 
Vivaldi, on the other hand, can 
have 30 bars with only two. Ad- 
apting involved adding chords, re- 
working accompaniment and, with 
a great deal or trepidation, syn- 
copating melodies. 

In “winter.” he supplemented 
classic Vivaldi triads with major 
and minor seconds, “it's still 
winter,” he says. “But I added 
icicles.” 



NEW YORK SCENE 


PEOPLE 


Times Square, the New Public Art Gallery 


By Michael Kimmelman 

Nett York Tunes Service 

N EW YORK — Say what you will 
about the transformation from pom 
parlors to Disney megastores. but 
whether Times Square has been cleaned 
up or sanitized, it has clearly been trans- 
formed by a spate of new billboard and 
light displays. 

At the moment, the most mesmerizing 
public art in New Yoik City is this 
collective and expanding jumble of 
flashing signs, capped by the new 
Panasonic video screen on One Times 
Square, the keystone building of the 
neighborhood. 

Art is wherever you find it. The fruit 
and vegetable stand at Dean & DeLuca is 
sometimes the best thing on view in 
SoHo. In Times Square, the new three- 
tier electronic stock ticker-tape display 
around the from of 1585 Broadway, at 
47th Street, is snappier than anything by 
Jenny Holzer, the an world darling, with 
her flashing signs of electronically 
ephemeral deep thoughts. 

The tickers are cryptic if you’re not 
fluent in the language of the stock ex- 
change, yet eloquent visually: like 
skaters on ice. yellow letters and num- 
bers glide across velvet-black back- 
drops. the tickers moving at different 
speeds so that they are slightly syn- 
copated before zipping around the 
corner of the building ana into it. 

Usually we enshrine the visual art of 
everyday, or popular, culture only ret- 
rospectively. Ancient Athens must have 
been a gaudy city, to judge from Ar- 
istophanes. but its sculptures, tike those 
along the streets of Pompeii or in vast 
public projects like the Baths of Ca- 
racalla in Rome, are classics to us now. 

Aren't the present Calvin Klein and 
Liz Claiborne ads in Times Square giant 
photographic portraits, after all? Liz 
Claiborne's models are clean-cut and 
affectless figures, absently s milin g, 
against plain backgrounds. Think 
vaguely of Alex Katz's portraits, but on 
the scale of eight-story buildings. Hie 
Calvin Klein ads along the construction 
barriers at 43d Street, where the com- 
pany's famous sexpot billboards used to 








Kiwi R 'Zoora-J/Th* Iwfc Tici— 


A steaming cup of coffee. 

be, convey a different image of Amer- 
ican youth: grungier and intoxicated by 
adolescent ennui. 

Sure, these aren't profound images 
and don't pretend to be. but they add to 
the mix of competing signs in the square, 
and it's the mix that counts. 

The Surrealists invented a game 
called Exquisite Corpse, in which a work 
of art would be made by several artists, 
though none of the artists would know 
what the others were doing. Times 
Square is an Exquisite Corpse. 

I asked A1 Shapiro, vice president of 
marketing at Liz Claiborne Inc., about 
the placement of his company's bill- 
boards. Shapiro is the driving force be- 
hind them. 

The billboards are atop, among other 
things, a sign for the American Liver 
Foundation, one of the square's most 
arresting images, with two giant yellow 


eyes, like a car's, straddling the corner at 
45th Street- 

Next door is the Bertelsmann Build- 
ing, its facade a clutter of jostling bill- 
boards for the Virgin store. Reray Martin 
liquor. LG electronics and the AU Star 
Cafe. 

The general effect is of an immense, 
incongruous collage, painted and elec- 
tronic. 

“That is the point of Times Square,” 
Shapiro said. “Nobody knows what the 
other signs will be. It’s the ultimate 
diversity, tike New York.” 

And it has always been so. Native 
New Yorkers, born to complain, typ- 
ically moon over the good old days. In 
the 1920s. Greenwich Villagers already 
moaned that their neighborhood was 
ruined by tourism. 

Maybe nostalgists for the golden age 
of Broadway consider die present Times 
Square ersatz, like the 1940s-theme 
diner that has taken over one corner of 
43d Street. 

But it's worth considering that the 
success of the square, visually at least, 
has always depended on a mix of nos- 
talgic fulfillment and technological in- 
vention. What makes the giant steaming 
mugs of die N'issin Cup Noodles sign 
and the Eight O'Clocfc Bean Coffee sign 
so endearing isn’t simply their gimmick 
(half the time the mugs just sputter J, but 
that the gimmick belongs to the tradition 
of smoking signs epitomized by the fa- 
mous puffing Camel cigarene billboard, 
an icon of Times Square past. 

Similarly, the Dow Jones tickers 
make the old news-flash along the out- 
side of One Times Square look as quaint 
as a Victrola, which it is, but dial’s why 
we still love the old sign as much as the 
new ones. 

The most memorable billboard is 
something else, memorable because it is 
unexpected: an advertisement for Mi- 
crosoft Network that consists of a com- 
puter screen's hand-shaped poini-and- 
ctick symbol against a vast blue back- 
drop. 

What’s unexpected isn’t the message 
but the medium: the ad is painted, the 
old-fashioned way. on the side of a brick 
wall. 


A FTER 60 years. Super- 
man has a new tailor. In 
the March issue of DC Com- 
ics, the superhero will shed 
his traditional red-and-yel- 
low uniform — and even his 
cape — for streamlined, blue- 
and-white tights with jagged 
stripes resembling lightning 
bolts. "The costume is elec- 
trical looking," DC Comics 
executive editor, Mike 
Carlin, told the New York 
Post "He still wears an 'S’ 
on his chest, but it's not the 
one we're used to.” Super- - 
man’s powers also undergo a 
change. “Bullets don’t 
bounce off him anymore. 
They go right through him.” 
said Carlin. 


Roger Moore, the now-be- 
spectacled 69-year-old actor 
who played James Bond, has 
ended a year of bitter 
wrangling with his wife of 27 
years by agreeing to pay a di- 
vorce settlement of £7.6 mil- 
lion (about S13 million). His 
57-year-old wife, Luisa, with 
whom he had three children, 
had demanded twice that sura, 
or half of his £27.5 million 
fortune, after the British actor 
left her for 55-year-old 
Christina Tholstrup, the 
blonde Swedish-bom widow 
of a Danish industrialist The 
Daily Mail reported that 
Moore had agreed to up his 
initial offer to Luisa by £3 
million. Sbe had threatened to 
take the case to California’s 
divorce court, which would 
have given her half of Moore’s 
estate. 


So much to the tom linger- 
ie: Coortney Love has 
graduated to Versace for her 
latest magazine spread. “I’ve 
learned only recently how to 
do clothes.” the punk rocker 
told Vogue for its January is- 
sue. “When I had no money, I 
did thrift shop, and I always 




HAPPY NEW YEAR — Emperor Akihito and Empress Michiko ooThurSday, as 
60,000 Japanese visited the palace in Tokyo to wish the couple a happy new year. 


knew exactly what to buy. 
Then I got money, and I 
stopped doing thrift shop and 

started doing mall It took 

me time to learn to shop with 
money.” Love, the lead sing- 
er of Hole and the widow of 
Nirvana’s Kurt Cobain, 
plays a stripper in the film 
"The People vs. Larry 
Flynt” 


Memoirs by Danielle Mit- 
terrand, the widow of the 
former French president, and 
the former sex-kitten turned 
animal-rights campaigner 
Brigitte Bardot topped 
France's reading list last year, 
according to a report 
Thursday. At slightly over 
500,000 copies Bardot’s con- 
troversial “Initiates BJ5” 
just beat Mitterrand's mem- 
oirs "En Touies Liberies.” 
which sold 490,000 copies. 


The Gambler is taking a 
chance on marriage, again. 
Kenny Rogers proposed to 
his girlfriend, before giving a 
New Year’s Eve performance 
in Las Vegas, his publicist 


said. Rogers, 58, announced 
die engagement during a per- 
formance at the Aladdin 
Hotel. He proposed to Wanda 
Miller, 30. during dinner and 
then sang “As God Is My 
Witness, a song he co-wrote, 
to her during his performance. 
The couple, who live on Ro- 
gers’ farm in Athens, Georgia, 
haven’t set a wedding date, ft 
will be Rogers' fifth marriage 
and Miller’s second. Rogers, 
known for his hit “The Gam. 
bier,” and Miller have been 
dating for more than three 
years. 


Tom Brokaw, the NBC 
anchorman, enjoys pumping 
iron hours before .most 
people have pouired their first 
cup of coffee. He likes to get 
up at 3 AM. and go to the 
gyro in his Park Avenue 
apartment. “I wander 
around, pump a little iron, 
make notes, think about 
things, ” he said inNew York 
magazine. After his light 
workout — “I don't want 
you to think I do a full 
Schwarzenegger” — Bro- 
kaw goes back to sleep iintj? 


6:30 A3L> then heads to 
work. “Fm :dlher on the 
train orl waJkorl take a taxi; 
depending -on my needs. 1 
take tbesubway a lot. ” 

• .:l. - ’ /v 

Don’t fell James Garner 
he’s getting too old to play 
sexy, leading man roles. At 
68, Gamer still has his rugged 
good looks and rakish chaizn, 
and his wry sense of humor 
hasn't softened in the least. 
Gameris latest movie part, as 


Matthew Douglas in “My 
Fellow Americans,” fits his 
image. ‘T like the fact he is a 
womanizer, aod protocol is 
not his thing. That’s the wayl 
am.” Gamer says about the 
Douglas character. “I’m not 
a womanizer, but I don't like 
protocol.” Garner, who made 
his reputation with the TV 
series “Maverick’ ’ in the late 
1950s, is able to control bis 
enthusiasm for the coscent 
crop of movie stars. Saying 
they achieve their celebrity 
too easily, without sweat ana 
hard work, be observes: 
“They have no stre ngth of 
character." 


r. .. 

BS...-; • • 

P1---T . 
fe.~ • . 



love 0-800-99-0011 


in the springtime. 


Every country has its own .AT&T Access Number which 
makes calling from France and other countries really 
east-. Just dial the .AT&T .Access Number for the country 
you're calling from and you'll get the fastest, clearest 
connections. And be sure to charge your calls on your 
AT&T Calling Card. It’ll help you avoid outrageous 
phone charges on your hotel bill and save you up to 60%? 
So please check the list for AT&T Access' Numbers. 


: SmuraSSs* 

Steps to-foflow when caffiag 
rafrynatfaHafly from weseae 

l.Jwt did the AT&T Access Number 
For the country you are raffing from. 

l Dial die phone number yttfre calling. 

3. Dial the calling card nrn nfo r fo M 
dwse your name. 


HAT Access Nembers 
I EBBDPE 

Awtrta«o 822-988-011 

Wflfwn* .8-888-109-18 

- .8-888-99-8811 

■"■**-*- .0138-8811 

town*. 96-088-1311 

Wind Jl -898-558-808 

5>ly» ..TZ2-W71 

Mtettads# .0-022-8111 

Rn*»4lmcnr}> — .70042 

— 9WHB-86-11 

.829-795*11 

Swttariand* lOOAMtn 

maid 

_ ■ ■nliXaiiT 

stBHaae 

-177-H8-P27 
Sau — ...1-06-1B 

nram 


SIhT" - JWMO 

S«fc •Wet.;. — - -...0*80-99*123 


Uncf-Senta^ « ifait oar Web Uttffi 




vV 

.v 

t; v. 

Vi. 

f ... *■-. 

Vi ' . - 

% - 
V ?::■ ii.‘ 

i-- - i . . 

n ' •. 


t *»»%» 


; ... 




if - - ligayi - ; 4*