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JBam Lo/Krom 

SHIPPED HOME — - Illegal Indonesian immigrants looking out of an Malaysia on Friday deported about 1,000 of the immigrants, who had 
Indonesian naval ship Friday at the port of Pasir Godang, Malaysia, been given three months to obtain papers enabling them to stay. 


Serbia Admits Vote Losses 


By Michael Dobbs 

Washington Post Service 

BELGRADE — Serbia’s govern- 
ment acknowledged Friday that an op- 
position coalition had won some pre- 
viously disputed local elections, but 
failed to make sufficient concessions to 
put an end to more than ax weeks of 
street protests. 

The government’s position was out- 

t ed in response to an international 
l~finding mission sent by the Or- 
ganization for Security and Cooperation 
in Europe, which has called on President 
Slobodan Milosevic to acknowledge a 
series of opposition victories in local 
elections held Nov. 17. 


The Serbian response failed, 
however, to make any mention of the 
biggest prize won by the opposition, tbe 
city assembly of Belgrade, and said that 
the situation remained “unclear” in 
Nis, a major town in southern Serbia. 

Opposition leaders greeted the gov- 
ernment’s move with derision. They 

Bosnia’s new parliament convenes 
and chooses a cabinet Page 2. 

said they would continue daily protests, 
in Belgrade and other Serbian towns, 
which have brought hundreds of thou- 
sands of people out onto the streets. 

The response of the Milosevic gov- 


ernment also was rejected as insuffi- 
cient by officials of the security or- 
ganization, who met in Vienna to 
consider the Serbian stand. 

“Milosevic has completely rejected 
the opposition victories in the election 
of Nov. 17,' ’ Vuk Draskovic, a leader of 
die opposition coalition, told 15,000 to 
20.000 protesters in Belgrade. “His 
message to the OSCE is composed ex- 
clusively of lies and tricks.” 

[The United States on Friday assailed 
what it called “hollow 1 assurances” by 
Serbia of a commitment to democracy, 
and warned that Belgrade's refusal to 
recognize opposition victories in the 

See BELGRADE. Page 7 


U.S. Stocks 
Charge On 

The stock market resumed its 
1996 ways on Friday, with the Dow 
Jones industrial average charging 
to a 101-point gain, led by a rally in 
the technology sector. Interest rates 
also stabilized, easing concern that 
corporate profits might not live up 
to expectations (Page 10) 

The dollar, meanwhile, soared 
against major currencies amid a re- 
bound in U.S. stocks, fueling op- 
timism that international investors 
will keep snapping up those se- 
curities and the dollars needed to 
pay for them. (Page 9) 


Peaceful Armenia Drifts Toward Dictatorship 


By Michael Specter • 

" . ; .New Yort Tones Service ' ' ■ 

YEREVAN. Armenia — This should have been a 
glorious winter for die troubled people of Armenia 
For the first time in years peace has taken root It is 
no longer necessary for anyone to burn furniture or 
park benches to keep warm. The longest lines at stores 
are of shoppers clamoring to buy microwave ovens to 
use in kitchens that lastyear had no electricity and little 
food. 

V Suddenly there are caf£s, restaurants, banks and a 

, J currency worth holding for more than an hour. In- 
flation is plummeting aiui real incomes, while still low, 
are slowly on the rise. Boutiques seQ. French shoes and 
Italian suits. After years of decline, the birth rate — a 


AGENDA 

Bulgarians Demand 
Government Resign 

SOFIA (AP) — Beating empty pans 
to stress theirpoverty , tens of thousands 

of Bulgarians filled streets of central 
Sofia on Friday to demand that tbe 
ruling Socialist Patty give up power. 

Police in full riot gear surrounded 
the headquarters arid prevented pro- 
testers from entering. 

Ex-MGM Chief Flees U.S. 

BALTIMORE (AP) —The Italian 
financier Giancario Parretti has fled 
to Italy from the United States before 
his sentencing Monday for perjury 
and etf dence-tampexing in the case 
that cost him control of MGM studios, 
his attorneys said Friday. 


raw indicator of hope and determination — has started 
to edge up. 

But there are no celebrations this season. Once 
regarded as an oasis of civility and democracy among 
former Soviet republics. Armenia has drifted toward 
dictatorship. 

Presidential elections this fall were found to be so 
deeply flawed that the United States, which provides 
more foreign aid to Armenia per person than to any 
country except Israel, declined to offer routine con- 
gratulations to the winner, Levon Ter-Petrosyan. 

It has been a year of diminishing press freedom and 
rising human-rights violations. 

Most of all, it has been a year in which Mr. Ter- 
Petrosyan. once revered as the man who brought 
democracy to Armenia, appears to have completed 


U.S. Extends Delay 
On Anti-Cuba Law 

Clinton Again Suspends Right 
To Sue Foreign Companies 


a journey from liberal intellectual to stony autocrat. 

President Ter-Petrosyan. a philologist who was 
jailed by the Soviet Union as a dissident, today rarely 
speaks in public. He has no tolerance for opposition. 
His meetings are few and many of his decisions are 
made in secret. 

“We had a marvelous dream of freedom a few years 
ago,” said Beij Zeytountsian. a prominent writer who 
was the independent country's first culture minister. 
4 4 And here we believe in our dreams. But now they are 
gone and we are left wondering what we have in their 
place. Peace is nice; we all love it. But peace of mind, 
that is even better.” 

Long animated by a sense of justice and idealism 
See ARMENIA, Page 7 


By Thomas W. Uppman 

Washington Post Service 

WASHINGTON — President Bill 
Clinton suspended indefinitely on Fri- 
day the most controversial provision of 
a 1996 law aimed at tightening the eco- 
nomic screws on President Fidel Castro 
of Cuba, a move that defused a nasty 
spat with major U.S. allies at little ap- 
parent political cost. 

In a statement issued in Washington 
and at his vacation resort in the Virgin 
Islands, the president announced that he 
was suspending a section of the Helms- 
Btmon Act that would allow U.S. cit- 
izens to sue foreign corporations whose 
investments in Cuba involved the use of 
property seized by the government there 
without compensation. 

The president said be was acting be- 
cause of 4 ‘real progress* 4 in building an 
international consensus for a tougher 
policy on Cuba. Now that the European 
Union arid key allies in Latin America 
have abandoned their long-held policy 
of tolerance toward the Castro regime, 
senior administration aides said, it is 
better to work in conceit with diem than 
to alienate them by allowing such legal 
claims. 

In announcing the decision, Mr. Clin- 
ton and senior aides claimed a major 
diplomatic victory for the administra- 
tion. They said a U.S. initiative to enlist 
support for a tougher stance on reform 
in Cuba had paid off in actions by allies 
who traditionally stayed out of Cuban 
domestic affairs. 

Stuart Eizensiat. the commerce un- 
dersecretary who was assigned by Mr. 
Clinton last summer to enlist allied sup- 
port for concerted pressure on Mr. 
Castro, said at a State Department brief- 
ing that “people at that time called my 
mission ‘Mission Impossible.' Many of 
these same people are now saying that 
the president's mission has been suc- 
cessful. although of course we will not 
be content until there is a free and demo- 
cratic Cuba." 

The most important piece of evidence 
for the existence of whai Mr. Clinton 
called “the strengthened international 
consensus for change in Cuba” is a 
policy adopted by the European Union 
last month conditioning all future eco- 
nomic and political relations with Mr. 
Castro on domestic reforms in Cuba 

With that policy in effect, Mr. Eizen- 
siat said. “No one is under an illusion 
that a democracy is going to break out 
immediately under Fidel Castro: but 
what we do believe is the convergence 
of governments, of business and labor 
and nongovernmental interests increas- 



In Singapore, Still a Sense of Fragility 

Despite Prosperity, the Governing Party Fears the ‘Knife Edge' 


Jerry Garda, whose unconven- 
tional existence is being recast by 
his ex-wives in a conventional court 
fight over Iris money. Page 20. 


By Michael Richardson 

Imavational Herald Tribune 

SINGAPORE — The transformation 
of Singapore from a congested tropical 
slum to a gleaming antiseptic metrop- 
olis in less than 40 years is well known 
— a small, but remarkable, part of what 
the World Bank has called East Asia's 
economic “miracle. '* 

Less well known to outsiders, but cer- 
tainly contributing to Singapore’s met- 
eoric ascent to affluence, has been a 
systematic modification of the Westmin- 
ster model of parliamentary democracy. 

This quintessentially liberal political 
arrangement — which in the West is 


often the basis for two major parties to 
alternate in government and opposition 
— was bequeathed by Britain, the 
former colonial ruler, when Singapore 
gained self-government in 1 959 and die 

NEWS ANALYSIS 

People’s Action Party, led by Lee Kuan 
Yew, first came to power in elections. 

Thirty eight years and nine general 
elections later, the party is still in power 
and set to embark on a five-year term. 

Indeed, when tbe final results of the 
latest elections were announced early 
Friday, the party had consolidated its 
dominance of Singapore's political 


landscape by winning all but two of the 
83 seats in F’ariiament and 65 percent of 
the valid votes cast, its best result in a 
general election in 17 years. 

“Liberals might not like what has 
happened but it is a notable feat of 
economic, political and social engineer- 
ing,” a Western diplomat said Friday. 
“The Westminster model has been thor- 
oughly adapted to meet Singapore's 
needs as the PAP leadership perceives 
them.” 

The party is evidently convinced that 
Singapore, despite an impressive veneer 
of prosperity and modernity, remains a 

See SINGAPORE, Page 7 


ingly focused on the promotion of 
democracy and human rights will lead 
over time to more breathing space for 
the Cuban people.” 

The Helms-Burton Act allows sus- 
pensions for six months at a time. Mr. 
Clinton, however, said, 4 4 1 would expect 
to continue suspending the right to file 
suit so long as America's friends and 
allies continue their stepped-up efforts 
to promote a transition to democracy in 
Cuba." 

The European Union, which coordin- 
ates the European response to Helms- 
Burton, reacted as it had the first time 
the waivers were issued: positively, but 
with continued opposition to toe law 
itself. 

In a statement, toe president of the 
European Commission, Jacques San ter. 

See CUBA, Page 3 


Mail Bombs 
Target Paper 
And U.S. Jail 

FBI Seeks World’s Aid 
In Tracing Egypt Letters 

C, *rq*lnl hr fhn Sk$ t-mn 

WASHINGTON — The FBI cast a 
global net Friday in its investigation of 
eight letter bombs mailed from Egypt to 
the United States, sending an attach* to 
Alexandria and asking friendly foreign 
intelligence sources for help. 

The eighth bomb in two days was 
discovered at a post office outside the 
federal penitentiary at Leavenworth, 
Kansas, said an FBI spokesman in Kan- 
sas City. Missouri. 

Two others were found at the prison 
Thursday, toe same day five letter bombs 
were found in Washington addressed to 
A! Hayat, an Arabic newspaper owned 
by a member of the Saudi royal family. 

The FBI said it was seeking a con- 
nection between toe bombs sent to Kan- 
sas and those mailed to the newspaper’s 
bureau. 

None of the bombs detonated because 
toe letters were intercepted before being 
opened. Nevertheless, government of- 
fices were at “a heightened stale of 
awareness" because of toe bombs, said 
Jeff Lanza, the FBI spokesman in Kan- 
sas City. 

“The latest letter was very similar to 
the others in terms of size, markings” and 
postmark of Alexandria, Egypt. Mr. 
Lanza said of the bomb found Friday. 

Tbe FBI said it was trying to deter- 
mine if toe bombs were sent by Egyptian 
followers of a fundamentalist Muslim 
cleric. Sheikh Omar Abdel Rahman, 
who is in prison in Missouri after being 
convicted of conspiring to blow up the 
United Nations and several other New 
York City landmarks. He was also con- 
victed of conspiringto murder President 
Hosni Mubarak of Egypt. 

“It's certainly something we are going 
to look at very closely,” said Chris Mur- 
ray. a spokesman for the FBI’s Wash- 
ington field office, which is heading toe 
investigation. “It's an important leal” 

The FBI is reviewing the inmate pop- 
ulation at toe Leavenworth penitentiary. 

See BOMBS. Page 7 




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Nixon Sought to Use IRS 
To Plague His ‘Enemies’ 


PsgeS. 

r Pages. 

Paged. 


By George Lardner Jr. 

Washington Pas Service ■ 

WASHINGTON — The discussion in 
toe Oval Office on May 13. 1971, was 
short and to toe point. Resident Richard 
Nixon was enunciating his standards fix' a 
new chief of toe Internal Revenue Ser- 
vice. 

“I want to be sure he is a ruthless sou 
of a bitch, that he will do what he’s told, 
that every income-tax return I want to 
see I see, that be will go after our en- 
emies and not go after our friends,” Mr. 
Nixon told his top aides. H. R. (Bob) 
H aide man and John Ehrlichman. “Now 
it's as simple as that. If he isn’t, he 
doesn’t get toe job.” 

The exchange is part of tbe 201 hours 
of secretly recorded Nixon tapes recently 
public by the National Archives. 

The leading candidate for IRS chief at 
that moment was widely believed to be 
John Nolan, deputy assistant treasury 
secretary for tax policy. Treasury Sec- 
retary John ConnaUy was backing his 
appointment as a highly regarded tax 
professional- But Attorney General 
John Mitchell had another nominee in 


mind: Johnnie Walters, an assistant at- 
torney general in charge of toe Justice 
Department's tax division. 

Mr. Nixon said be didn’t know Mr. 
Walters, but Mr. Nolan, it was plain, 
would not pass muster at the White 
House. Mr. Ehrlichman had inquired 
about Mr. Nolan in light of the Nixon 
standards and found him wanting . 

“I am assured that Nolan will not 
play that game, for fear of offending the 
bureaucracy,” Mr. Ehrlichman said. 

Mr. Nixon said be understood, bur 
whai was bothering him was 44 what the 
stinking little bastards” at the Internal 
Revenue Service did when toe Demo- 
crats were in power. The president com- 
plained angrily about IRS investiga- 
tions during toe Kennedy 
administration of prominent Republi- 
cans — - including an exhaustive audit of 
Mr. Nixon's tax returns in 1963. 

“Bob,- you remember, when 
Kennedy ordered them to go after me 
for dial goddamn bouse I bought, huh,' ’ 
Mr. Nixon told Mr. Haldeman. 

"And after Finch,” Mr. Haldeman 

See NIXON, Page 7 


Briton’s ‘Rabble Army’ Girds for War 

Goldsmith Leads a New Battle of Britain 



InPB luu Ftayctflfee Ne* YedTma 

Sir James Goldsmith is turning 
his charm on Britain’s electorate. 


By Warren Hoge 

Ne*- fort Times Service 

BRISTOL, England — A slogan- 
eering full-page ad has been appearing 
in British newspapers that pictures the 
candidates for prime minister and an- 
nounces, "Frankly, it doesn’t matter 
who you vote for: he won't be running 
Britain anyway.” 

In stark white letters on a black 
background, another says, “John Ma- 
jor isimpotenL" A third reads. “Meet 
the British Government.” and dis- 
plays toe pictures of the 20 European 
Union commissioners. 

The pugnacious calls to action signal 
toe characteristically combative return 
to Britain of Sir James Goldsmith. 

The 63-year-old British-French bil- 
lionaire exited the country dramatic- 
ally years ago to seek his fortune else- 
where but is now back with his own 
new political party, to which he has 
pledged more than $30 million. 

The Referendum Pany is acme-issue 
party. It seeks a commitment from toe 
government to hold a plebiscite on 
whether the British want to become 


subsumed in a federal European “su- 
perstate” or retain the country’s sov- 
ereignty and associate with Europe just 
as trading partners. Once the refer- 
endum is set. Sir James has promised, 
the party will cease to exist. 

Sir James long ago proved his 
powers of persuasion. He prevailed 
upon three formidable women, the 
mothers of seven of his children, to 
remain for decades in their assigned 
places — London. Paris and a Bur- 
gundy chateau — for drop-in visits. 

Now he is turning his charm on toe 
electorate. He has created his party to 
halt Britain's integration into the Euro- 
pean Community by disavowing the 
treaties it has signed over 40 years. 

A cosmopolitan version of Ross 
Perot. Sir James has pledged $32 mil- 
lion from his foundation and whatever 
more of his billion-dollar fortune it 
will take to put up as many as 600 
candidates for the House of Commons 
and conduct a national campaign. 

His quarrel with Europe centers on 
his belief that its countries restrict the 

See EUROPE, Page 7 










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New Bosnian Parliament Convenes 

Former Enemies Appoint Peacetime Cabinet in Step to Unity 


by Ow Surf From DgftlxitB ' 

SARAJEVO. Bosnia-Hcrzegovina 
— With pledges to turn Bosnia-Her- 
zegovina toward a peaceful future. 
Muslim, Serbian and Croatian law- 
makers gathered for the first time Friday 
in an important step toward reunifying 
the country. 

Parliament appointed a peacetime 
cabinet proposed by the country's col- 
lective presidency. The new Council of 
Ministers was unopposed by (he 42- 
member House of Representatives, 
elected in national polls in September, 
with only one deputy abstaining. 

The cabinet is led by two co-chair- 
men, Haris Silajdzic, a Muslim and 
former Bosnian prime minister, and 
Boro Bosic, a Serb. 

Jadranko Prlic, a Croat who served for 
a time as Bosnia's foreign minister, kept 
his post in the new cabinet. A Muslim, 
former Prime Minister Hasan Mur- 
atovic, was named minister of foreign 
trade, and a Serb, Spasoje Albijanic. will 
serve as minister of communications. 


The cabinet, which will primarily 
handle issues touching on foreign re- 
lations. serves as a weak central au- 
thorityruling over Bosnia's autonomous 
Serbian and Muslim -Croat territories. 

“Now the real work must start,” 
Michael Steiner, the second-ranking of- 
ficial charged with implementing ci- 
vilian aspects of the 1995 peace agree- 
ment, told the deputies m a speech. 
Bosnian voters “expect you to get the 
country back on track,’ 1 the German 
diplomat said. “They expect you to 
provide them with peaceful, decent liv- 
ing conditions.” 

At the legislative session, held in Sa- 
rajevo's National Museum, former en- 
emies listened to speeches from all three 
members of the collective presidency. 

The Muslim chairman of the pres- 
idency. Alija Izetbegovic, wished the 
Parliament success and called on the 
deputies to implement the peace accord, 
which ended the three-and-a-half year 
war in late 1995. 

The Serbian member of the presi- 


dency, Momcilo Krajisnik, met with an 
awkward silence, from Muslim and 
Croatian deputies when he rose to de- 
liver his address. His speech appeared to 
cast doubt on Bosnia’s unity, as pre- 
scribed by the peace settlement. 

Mr. Krajisnik, who bitterly opposed 
Bosnia's break from the former Yugo- 
slavia, said that the former warring fric- 
tions had agreed to recognize Bosnia’s 
Muslim -Croat and Serbian territories as 
“two states,” but added that Bosnia- 
Heizegovina “exists too." 

Saying it was time to heal the wounds 
of war, Mr. Krajisnik warned that the 
peace would hold only if all three na- 
tional communities had equal rights. 

Serbian deputies had boycotted an 
inaugural session of Parliament in Oc- 
tober. The Serbs objected to an oath 
pledging loyalty to Bosnia as a single 
state. Since then all the Serbian deputies 
have signed the “solemn declaration” 
to the Bosnian Constitution but avoided 
taking the oath in a public ceremony, 
diplomats said. (AP, Reuters, AFP) 



u i 


Fear ed in N. Y. 
Over Shortage 
Of Controllers 


L 


By Matthew L. Wald 

- Sew YoriThnes Service. 


Fehan Darm/Agencc France-Prtne 

Western and Bosnian officials meeting Friday in Sarajevo. From -left, 
seated: Michael Steiner, deputy to the top Western envoy to Bosnia; 
NATO Secretary-General Javier Sol ana Madariaga; Alya Izetbegovic 
and, back to camera, Momcilo Krajisnik of the Bosnian presidency. 


Cold Blocks 
French Rails; 
Europe’s Toll 
Exceeds 220 


Compdrd ty Our Sufi From Dupotchiz 

PARIS — Europe’s deepest freeze 
in a decade was being blamed Friday 
for more than 220 deaths as arctic air 
from Siberia chilled the continent for 
an 1 lih day — icing up major ship- 
ping routes and even normally sunny 
parts of Spain and Portugal. 

Forecasters predicted more bitter 
cold into next week. 

More than 12,000 travelers were 
stranded Friday in the Rhone River 
Valley in France after ice glazed train 
rails and overhead power cables, 
stopping trains. 

Train service was halted across the 
region Friday and was disrupted in 
other areas. Main highways remained 
blocked by ice and snow. 

Rail travelers, including 6.000 
npo 
lakes 


who were forced to camp overnight in 

dorm- 


trains, stations and makeshift 
itories, lambasted SNCF, the French 
state-owned rail company, for failing 
to give information about delays. 

“They didn't tell us anything. It’s 
scandalous,” a woman said after be- 
ing stranded for six hours on a train. 

The railroad said it was doing 
eveiything possible to prepare for a 
flood of 30,000 to 35.000 travelers 
due to head home after New Year 
skiing holidays in the Alps. 

The main A7 highway was partly 
reopened smith of Lyon, with traffic 
running on one lane in each direction 
after snow stranded up to 5,000 
people overnight. 

In the French Alps, 250 holiday 
skiers were stuck in a ranger station 
Thursday after an avalanche cut them 
off. 

Smaller airports from Avignon and 
Valence in the south to Cherbourg in 
the north were closed by the icy con- 
ditions. The biggest French airports 
were open but operating with fre- 
quent delays. 



Jaaper JuiM/Rnilcn 

Skaters braving the cold on Friday in Wyns, Netherlands, as they prepared for the skating tour. 


Dutch Warm, Up for Ice Skating Marathon 


Reuters 

LEEUW ARDEN, Netherlands — Skating fever 
gripped the Netherlands on Friday before the 200- 
kilometer Eleven Cities Tour ice skating marathon 
Saturday, only the I5th staging of the historic event 
More than a million fans and skating enthusiasts 
were expected to travel to the northern province of 
Friesland to watch up to 16,000 skaters take part 
The race, die first for 1 1 years, was given the green 
light this year after Europe’s big freeze guaranteed that 
ice along the route was at least 15 centimeters (6 inches) 


deep. Temperatures were expected to slump to about 
minus 15 degrees centigrade (5 degrees Fahrenheit). 

About 300 top skaters will be freed from steel cages at 
the 5:30 AM. start and will expect to complete the 
grueling course along a maze of canals and inland 
waterways through 10 medieval towns in about seven 
hours. The bulk of the skaters will then be released at 15- 
minute intervals. Many will not return before midnight 

Emergency services and about 500 police in 
Leeuwarden were bracing for the arrival of hundreds of 
thousands of skating fans. 


BRIEFLY EL/ £ O P E 


In England, for the first time since 
the end of World War 12, the River 
Thames froze at Marlow, 40 kilo- 
meters 125 miles) west of London. 

And animal activists worked to 
rescue scores of swans frozen fast by 
their feet to icy ponds. 

The police in Darmstadt, Germany, 
said a homeless 34-year-old man 
wanted for months on fraud charges 
turned himself in Thursday night so 
that he could warm up in jail. 

In the Netherlands, even the pen- 
guins were freezing Friday. An Am- 
sterdam zoo moved its younger 
blackfoot penguins out of the minus 5 
degrees centigrade (14 degrees 
Fahrenheit) outdoors and into a cool- 


er where the temperature can be kept 
at a constant 5 degrees centigrade. 

“It's Siberia!” the daily Le Par- 
isien said. But it noted that France 
was still far from the cold snaps of 
1709, when more than a million 
people died of famine and epidemics, 
or 1 880, when the Seine froze and the 
Invalides bridge collapsed into the 
river. (AP. Reuters) 

■ Western LU3. Is Flooded 


Flooding forced tens of thousands 
of people from their homes across the 
western United States on Friday, 
turned roads and highways into ra- 
ging rivers and caused millions of 
dollars in damage. The Associated 


Press reported from Woodland, Cali- 
fornia. 

Governors of Idaho. Nevada, Ore- 
gon, Washington and California have 
declared 70 counties disaster areas 
since a series of storms began swamp- 
ing the region with snow and rain on 
Dec. 26. At least 18 deaths have been 
blamed on the weather. In California, 
officials ordered a helicopter evac- 
uation Friday of 2^00 people stran- 
ded in Yosemite National Park. 

The authorities ordered up to 
55,000 people to leave their homes as 
'they evacuated two entire Northern 
.California towns, Yuba City and 
Marysville, located on either side of a 
rain-swollen river. 


Turkish Cypriot Leader 
Sees Conflict Ahead 


ANKARA (Combined Dispatches) — The 
Turkish Cypriot leader, Rauf Denktash, warned 
Friday -of the possibility of a war in Cyprus, 
saying the tendency on the divided is Jana was 
toward conflict, not reunification. . 

“If an accord is. forcefully imposed on 
Cyprus without sufficient guarantees, the; snafc 
lest incident between the Turkish Cypriots and 
the Greek Cypriots may explode the whole of 
Cyprus like a volcano,” Mr. Denktash said, the 


Turkish News Agency of Cyprus reported. . 

iewed his call for the integration 


He also renewed his ' 


of the self-styled Turkish Cypriot state with 
Turkey in the event that the Europ 


jpean Union 
opened talks with Greek Cypriots for .Cyprus’s 
membership in die EU. 

Meanwhile, a Greek Cypriot defense source 


a deal to buy surface-to-air missiles from Rus- 
sia to 'bolster its air defenses. (AFP, Reuters) 


Paris’s NATO Test ’ ofU.S. 


PARIS — Defense Minister Charles Miilon 
said in an interview published Friday that Paris 
still wanted the United States to accept die idea 
that a European officer should be head of 
NATO's southern command, but was flexible 
over die timing. 

“This is an essential point that has the value 
of a test of the real willingness of the Amer- 
icans to recognize the European defense iden- 
tity,” Mr. Midoh tofd the daily La Croix. 

Washington has rejected appeals by Paris 
for a European to run the Naples abased south- 
ern command bpaded by an American since ' 
1949. :.;, „v • .. 


Chipping dtSpwgMdtSO 


BONN — The German news magazine Der 
Spiegel turns 50 on Saturday and is as dogged 
by controversy as the day it set out in occupied 
postwar Germany to be a self-appointed “as- 
sault gun of democracy.” • 

A report in the leftist daily Tageszeitung said 


Der Spiegel employed former Nazi SS officers 
in top editorial posts in the -1950s and 1960s. 


The daily said one former SS captain, Georg 
Wolff, was deputy editoF in chief and later 
managing editor, while anotiier, Horst Mahnke* 
was head of the foreign desk for a time. 

The publisher of Der Spiegel, Rudolf Aug- 
stein, defended the pirn's record and denied 
having known.of their past (Reuters) 


RELIGIOUS SERVICES 


AMSTERDAM 


USA 


CROSSROADS INTERNATIONAL 
CHURCH Interdenominational & 
Evangefcal Sunday Service 1000 am & 
11:30 a.m./ Kids Welcome. De 
Cuserstraea 3, S. Amsterdam Into. 020- 
641 681 2 or 020-6451 65a 


tf you wxjid Bo a tree BUe couse by mA 
please ccrtact UEGUSE de CHRIST. P O. 
Bn 5ia Saudoa Wane 47B81 USA 


EUROPEAN 

BAPTIST CONVENTION 


FRANKFURT 
LUTHERANt CHURCH, 


FRANCE/TOULOUSE 


THE EPISCOPAL CHURCHES 
OF EUROPE (Angfieon) 


HOPE INTERNATIONAL CHURCH 
(Evangafical). 4. bd. de Pforac. Cotairaar. 
Sunday service. 6:30 p.m.Tel.: 
OS 62 74 1155. 


PARIS and SUBURBS 


FRENCH RIVIERA/COTE D'AZUR 


NICE: Holy Trinity (Anglican), 11 
Bt Ha. Sun. 11; VBW& StHwfte 22 
Resistance. 9 am Tet 33 04 to 87 It 


rue 
22. av. 
871963. 


MONTI CARLO 


THE AMERCAN GATHB3RAL OF THE 
HOLYTWflTY, Sun 9 & 11 am, 1046 
am. Sunday School tor children and 
Nursery care. Third Sunday 5 p.m. 
Evensong. 23, avenue George V. 
Pans 75008. Tel.: 33-01 53 23 84 00. 
Metro: George V or Aims Marceau. 


BERLIN 

BERLIN. Rothenburg Str. 13. 
). Sunday, B&le study 10.45, 
Service 12.00 noon Charles 
l pastor. TeL 030-774*1570. 

BREMEN 

LBCL, Hohantohestr. Hamann-Sos&Str. 



Worship Sun 17:00, Pastor telephone: 
04791-12 — 


MONACO CHRISTIAN FELLOWSHIP 
Worship Service. Sundays: 11 a.m. 
9. rue Louis Notary. Monte Carlo. 
TeL 377 92 16 5B 47. 


FLORENCE 


12877. 

BUCHAREST 

LB.C-, Strada Papa Rusu 22- 3.00 p.m. 
Contact Pasky Mte Kemper, Tet 312 3960. 

BUDAPEST 


MUNICH 


ST. JAMES' CHURCH, Sun. 9 am Rfe t 
& 1 1 am PttB H. Via Bemanta RucaBai 9, 
50123, Ftorence. tety.TeL: 3955 29 44 17. 


LB.C., meets at Modes 
GimnazJum. Torokvesz ut 
1000. TeL 250-3932. 


mond 

Sun. 


BULGARIA 


INTERNATIONAL COMMUNITY 
CHURCH. Evangelical Bible Believing 
services In Enaista 430 pm Suida 
Enhuberar. 10 (U2 Therastertstr.) i 
850-8617. 


FRANKFURT 


PARIS and SUBURBS 
EMMANUEL BAPTIST CHURCH - An 


CHURCH OF CHRIST THE KING 
( Episcopal/ Anglican) Sun. Holy 
Conmurion 9 £ 11 am Sunday School 
aid Nursery 10:45 am. Sebastian RJnz 
SL 22, 60323 Frankfort. Gemany, U1. 2, 
3 Mgu^Alea Tet 4969 55 01 84. 


LB.O. World Trade Center, 38, Draten 
Tzankov Btvd. Worship 11:00. James 
Dr*a, Pastor. TeL: 668 666. 


FRANKFURT 


evangefcal church in the western suburbs, 
all are welcome. 8:45 First Service 
concurrent with Sunday School. 11OT 
Second Service with Children's CtWCh. 
French Service 6:30 p.m. 56, rue des 
Bons-Raislns. 82500 
ForrtD.ca801«75129B3. 


GENEVA 


EMMANUB. CHURCH, la & 3rd Sun. 
10 am Eucharist 2nd & 4th Sun. Morning 
Prayer. 3 rue da Martha*. 1201 Geneva. 
Switzerland. TeL 41/22 732 80 78. 


INTERNATIONAL CHRISTIAN FEL- 
LOWSHP, Sodenerstr. 11-18, 63150 Bad 
Homburg. A friendly, Christ-centered. 

church serving the EngOsh-BpsaWra 

community. Sunday Worship, S.S. & 
Nusery 09:45. Wteel ' 

MP. livey. Cal OW 


TRINITY 

Nfaekmgendee 54, Survtifcnhip 11 am 
TeL 068/95631 068 or 5125S2.' 

GENEVA 

EV. LUTHERAN CHURCH 20 rue 
Vadatoa Sunday ncrehip ft3H ft German 
11OT to Engfch. Tat (022) 3105089. 

JERUSALEM 

LUTHERAN CHURCH of the Redeemer. 
Otf CSy. Murfsten English v/asfifo Sun. 

9 am 41 are wefcomaTaL (02) 6281-040. 

PARIS 

AMERICAN CHURCH IN PARIS. 
Worship HOT am. 65. QuaJ rfOtsay, 
Paris 7. Bus 63 at door, Metro Atma- 
MameauortowaHes. 

VIENNA 

VIENNA COMMUNITY CHURCH, 
Stsiday worship in Engfch HOT AM, 
Sunday school, rusery. internat i onal, all 
danaain a tons wefcoma Dorrtheegasse 
l8.Veral. 

ZURICH 

INTERNATIONAL PROTESTANT 
CHURCH English speaking, worship 
sendee. Sunday School & Nursery, 
Smtays 11OT am, Sch a ra e ng a sse 25. 
TeL (01) 2625525. 


HOPE INTERNATIONAL CHURCH 
Hotel Orion at Rans-b-DStense, 8 bd do 


MUNICH 


BETHEL J.B.C. Am Oachsberg 92 
(Engfch), Worship Sul HOT am and 
6OT pm. TeL 069549559. 

HOLLAND 


METHODIST M1ERNAI10NAL 
CHURCHES 


NaRy. Wwshp Sundays 930 am. Rev. 
Douglas Miller, Pastor. Tel.: 


01 43 33 04 06. Metro 1 to la Defense 


SAINT JOSEPH'S CHURCH (Roman 
Cathcic). MASS IN ENGLISH Sat 630 pm; 
Sun. 9:45. 11:00 am.. 12:15, 6:30 pm. 
50. avenue Hoche. Paris 8th, Tel.: 
01 42 27 23 56 Meta Charles de Gale ■ Brie 


THE CHURCH OF THE ASCENSION, 
Sun. 11:45 a.m. Holy Eucharist and 
Sunday School. Nursery Care provided. 
Seybothstrasse 4, 81545 Munch (Har- 
lachtog). Germany. TeL 4969 64 61 85. 


TRINITY NTBRNATIONAL. Invites you to 
a Christ centered Pafcwshlp. Services: 
9OT and 1030 am Btoancaripban 54, 
WriS3enaar070£174024 nusery ptov. 

NICE- FRANCE 


ROME 


ST. MICHAEL'S CHURCH (evangefcal 
Anglican). Sundays 1030 a.m. (with 
dii? and creche) aid SOT pm 
Midweek study groups. Christ-centered 
fellowship in the heart ot Pans. 5 me 
cTAguesseau. 75003, TeL 01 ,4742.7086 
Manx Concorde. 


ST. PAULS WTHN-TH&WAUS* SU1 
830 am. Holy Eucharist Rtel; 1030 am 
Choral Eucharist Rite ll; 10:30 a.m. 
Ouch School tar dhirisn & fasoy care 
provided: 1 pm Spanfch EudtarisL Via 
Napot 5a 001B4 Rome. TeL 396488 
3339 or 396 4743969. 


LB.C. is nre Vernier. English service. 
Sunc^eventoglSOTpeBstorRoyMar- 
TeL (04 33) 32 0593. 


TOKYO 


BRUSSELS /WATERLOO 


ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near fidabashi Stn. TeL: 3261- 
3740. Worchp Service: 920 am. Sundays. 


TOKYO UNION CHURCH near 
Omotesando Subway So. Tel: 340CMXK7. 
Worst*} Services Sunday 830 A .HOT 
Bm,S$«a45am. 


ALL SAMTS 1 CHURCH, la Sun. 9 & 
11:15 am. Holy Euchartt wtti Chtterfs 
Chapflta IMS. AT Offwr Sundays IMS 
am. Hdy Eucharis and Smday School 
563 Chaussde de Louvain. Ohaln. 
Betaurv. TeL 322384-3566. 


PRAGUE 

LB. FELLOWSHP, Vtoohradsta * 68. 
ftagueaSun 1 JOT. TaLSS) 311 7874. 

WATERLOO 

WATBUjOO BAPTIST FELLOWSISP 
Sui 18OT at Swedish Church, across 
torn MadDonaUs, TeL (02)353 1585. 

ZIHUCH - SWITZERLAND 

LB.C of Zurich. Ghetetrasse 31. 8803 


AMSTERDAM (West) 

1230 every Sunday. HoRand MeStotfist 
Church at Immanuel Kerk, Der 
KtaBrenstraal 58, Alfred Glasgow 072 
62315. 

BERLIN 

6OT pm. every Suvtoy. Au far slehun g ar 
ktoJie, WHrFHBttltSm 07, Berfn 
(ChartattETbung) (U-bahn Bismarchstr.) 
Rev. John Mtfnson 090 3Q1 53B5. 

DRESDEN 


Fdtowshto fo the EnwMustoche Bitf. 
Kadian n un str . 17 (Neistadt). WB Clapp 
03S1 4421411 

HAMBURG 

1 1:45 every Sunday. Ouch of toe Croas, 
Rfintgenstrafle 1, Hfflrt3utp4=uhtebOtteL 
FtosalynKaufirarn 040 603 2705, 

MILAN 




SWITZERLAND 


BASEL CHRISTIAN FELLOWSHIP 
English-Speaking non-denominationa]. 
TeL +41 61 302 1674, Sundays 1030 
MWereSuasEe 13.0+4056 Basel 


WIESBADEN 

THE CHURCH OF ST. AUGUSTINE 
OF CANTERBURY, Sun. 10 a.m. 
Famiy Bjcharist. Frartdurte Srasse 3, 
Wiesbaden. Germany. Tel,: 
4BB11OT66.74, 


ASSOC of wn 
CHURCHES 


BERLIN 

AMBBCAN CHURCH IN BERLM, cor. 
of Oey Alee & Potodamer Str. SB. SOT 
anu Wooftlp 11 am TeL 03M132021 . 


Pol PerryOE 607 2631. 

MUNICH 

1 lOTevoy Sunder, felowehipBne 1245 
Munich Peace Church. Rauenlobstr, 5 
(U-Bahn “SentBinger Tor): 5 Jan. . 
Westey Covenant Renewal Service. 
Pastor James Dwyer 260 236 77 
(oBce)or820604a 


TRAVEL UPDATE 


Airport Security Lags 

LONDON (Reuters) — Security at 
many airports around the world remains 
inadequate and 8,000 unaccompanied 
bags get onto international flights eveiy 
day, a leading British consumer mag- 
azine asserted Friday. • — 

Despite tragedies such as the 1988 
Lockerbie disaster, in which a bomb in 
the hold destroyed a Pan Am flight and 
killed 270 people, most countries do not 
have legislation requiring the screening 
of all hold baggage on international 
flights. Holiday Which? magazine said. 

“One of the major stumbling blocks 
— other arguments include cost and 
flight delays — is that there is no in- 


ternational body with the power to en- 
force security stondardsOT carry out reg- 
ular inspection^" t^e magazine said. 


The Federal Aviation Admmistra- 


WASHINGTON —r Federal aviation 
officials have foiled to meet their com- 
mitment to increase the number of air 
traffic controllers in the.New York re- 
gioivraising air safety concerns among 
both lawmakers and" '’union' "officials, 
who contend that, the controllers are 
increasingly being overworked- 

Almost two years ago, toe Federal 
, Aviation Administration -agreed 10 in- 
crease the number of controllers author- 
ized' for the New York Center to 314 
positions, from 303, acknowledging that 

- name were needed to handle -toe region’s 
congested air traffic. But the number. has 
actually decreased, to 281 from the 299 
that were working, as recruiters have had 
trouble finding qualifiecL'wodcers to ap- 
prentice at the center, which handles 
high-altitude flights over New Yoric. 

Now, New York Center controllers 
say, low s taffing levels have put so much 
pressure on the remaining employees that 
. many are dose to burning out, creating 
potential danger in the skies. 

Federal Aviation Administration of- 
ficials deny that a safety problem exists, 

- but they acknowledge- that the decline 
has forced toe agency to spend more 
than it should on overtime pay. Despite 
them recruiting efforts, noeariy solution 
to the shortage is in sight. • 

The need for new recruits has in- 
testified as the federal agency officials, 

' on orders from Congress, aatitofized an 
increase this week in the number of fully 
trained controllers and trainees above 
the old target of 314, saying 33S were 
now needed. But with only 281 con- 
trollers, of whom 51 are trainees, the 
officials say they will not reach their 
target until the end of 1998. 

Union officials and airline executives 
doubt that the Federal Aviation Ad- 
ministration can reach that figure. 

“The facility is hurting and it's hurt- 
ing really bad,” said Christopher 
Boughnu the president of toe National 
Air Traffic Controllers Association uni i. 
on local at the center. 

“We’re being continual! y~ asked to do 
more and more and more with less and 
less and less,” be said 

The shortage has been chronic in 
New York since the Reagan admin- 
istration dismissed striking controllers 
in 1981 after members of the Profes- 
sional Air Traffic Controllers Organi- 
zation went cm strike over working con- 
ditions and pay. While the federal 
Aviation Administration has largely 
Leached its staffing goals nationally 

• siilce 19ST, Irhai ^M.SCverejproblerns 
f ftitne NdW YqHtrtgibh. despite average 

annual 'pay .althe center pf $80,00(3; 
r ' Arth* sathfe dme, sir Traffic has in- 
creased -substantially. -Traffic for the 
year that ended Sept 30, 1996, was up 
12 percent from the year before, and 
early figures show that traffic has in- 
creased 8 percent more since then. 

But John Walker, the air traffic di- 
vision manager for the Federal Aviation 
Administration’s eastern region, said 
that neither safety nor -schedules had 
been affected, and that his agency was 
goingto take several new steps, includ- 
ing screening hundreds of job applicants 
quickly, wifi a computer simulation to 

• determine their aptitude for the job. 

.The Rookonkoma center, on Long 
Island, handles air traffic above 17,000 
feet (5.200 meters), which means that in 
addition to planes going over toe region, 
it handles long flights that begin or end 
at the region* s airports. 

Despite union complaints of control- 
lers forced to work excessive overtime 
at the center, Mr. Walker said that the 
people working overtime bad volun- 

• leered to do so, and that 60 percent of 
those who worked an extra shift took a 
sick day or a vacation day in the same 



7 • 




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tion has told airline pilots that toe key week, so that few. worked a six-day 
to ..surviving sudden uncommanded rud- .week. 


dermovements in Boeing 737s — such . 
as the one believed to have brought 
down US Air Flight 427 at Pittsburgh in 
1994 — is to lower the nose, jam cm the 
power and not worry about maintaining 
assigned altitudes. These instructions 
and others must be printed in all flight 
manuals within 15 days. The 737 is the 
world's most numerous airliner, with 
2,705 of toe twin-engine jets in com- 
mercial service worldwide. (WP) 


even if schedule^ to do so.- .. 
Representative Susan Molinari, Re- 
publican of New York and a member of 
the House Transportation and Infra- 
structure Committee who has met sev- 
eral times with .labor and management 
officials from the center, said the con- 
troller shortage was so severe and so 
prolonged that “you're asking these 
people to be superhuman.” 

“The way these people work," she.' 
said, * ‘it’s barbaric.” ■ 





WEATHER 


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INTERNATIONAL HERALD TRIBUNE, SATURDAT-SUNDAY, JANUARY 4-5, 1997 


PAGE 3 




r * ,aia nls 

fr S), 

in "Hi 


** 



% 


Citizen Lobby’s Call to Arms 

Common Cause Wants CluUon-Jhai Meeting Probed 


e l$ * 


•r--„ 


. BySaiaFriiz 

Los Angela Tines Servic e 

WASHINGTON — Com- 
mon Cause has called on At- 
torney General Janet Reno to 
- investigate a meeting last June 
between Prftairtm^reil Clinmn 
sod a Thai-Ameaican c ontri h- 
ntor, charging that it appeared 
to violate federal law p mhiH . 
iting “the sale of a meeting 1 ' 
with government officials. 

The request from Common 
' Cause, the so-called citizen's 
* lobby, referred to a meeting at 
the White House on June 18 at 
..which the president re- 
portedly discussed .U-S. 
; policy on China with Thai 
business executives. 

The meeting, arranged by 


John- Hoang, then a Demo- 
cratic fund-raiser, included 
Pauline Kanrhanalak, a patty 
donor, and four of her business 
associates from. Thailand. On 
the same . day, Ms. Kan- 
c h a na lak contributed $85,000 
to the Democratic Party. 

. The Democrats have since 
returned $253,500 contrib- 
uted by MS. K»nri<fn«ln ^ 
after learning that die money 
she gave had, in fact, come 
came from her mother-in- 
law. Federal law requires that 
the actual source of contri- 
butions be revealed. 

Overall, more than $1 mil- 
lion in questionable or illegal 
donations from Asian- Amer- 
icans collected by Mr. Huang 
have been returned since the 


furor over the contributions 
surfaced in the fall. 

The Justice Department 
already is investigating Mr. 
Huang's activities. But be- 
cause the scope of the Justice 
probe has not been an- 
nounced. there is no way of 
knowing whether the Kan- 
chanalak meeting — which 
came to lighr late last week — 
is already part of the inquiry. 

In a letter to Ms. Reno, Ann 
McBride, president of Com- 
mon Cause, said die meeting 
should be included in die in- 
vestigation because it could 
violate a section of the U.S. 
criminal code barring public 
officials from providing any 
benefit to anyone in exchange 
for a campaign contribution. 



POLITICAL /VOTtS 


ilfr*-d i • \>Hnrulrtl IVr» 

BYE NOW — The Clintons heading for snorkeling in the Virgin Islands on Friday. 


6 


Away From 
Politics 

• Relatives of TWA Flight 
800 victims should receive 
" autopsy reports, the attorney 
general of New York state has 


recommended. 


(AP) 


- • Los Angeles Police Chief 

- Willie WnHams formally ap-~ 
. plied fra: a second five-year 

- tern, stoking die debate over 
. whether the first black chief 
• of the troubled department 

deserves another five years at 

- the helm. (LAT) 

. •The Food and Drag Ad- 
.. ministration has cleared Or- 
tho Pharmaceutical’s Tri- 

- Cyclen birth-control pill to be 

prescribed as an acne treat- 
ment for women. (AP) 

• The police in New York 
City will focus on breaking 
up gangs in 1997 by com- 
puterizing intelligence about 
illegal weapons and ' 


E drug 
(NTT) 


AMERICAN 


TOPICS 


More Internet Trendmess; 
‘Wired 9 Real Estate 

When Jonathan Steuer, a com- 
puter wunderirind, moved into an 
apartment on Ramona Street in San 
Francisco, he was willing to put up 
with die crack addicts on the door- 
step — but not the slow-speed con- 
nection to the Internet. 

So Mr. Steuer, a Harvard gradu- 
ate, borrowed $10,000 and installed 
a special cable, called a T-l, and 
h ar dware to provide access to die 
' Internet more than 100 quick- 
er than an average telephone line, 
repeats The Boston Globe. 

Today, about 30 neighbors share 
the line, making Ramona one of die 
most wired streets in the country. 
And the hire of that good wiring has 
caught die eye of real estate de- 
velopers, who see it as a powerful 
marketing tooL 


In New Yoric’s East Village, a 28- 
unit apartment building, the Infor- 
mation Build ing , was filled almost 
immediately after it opened last 
spring, thanks to the high-speed In- 
ternet access it offered. Real estate 
managers in Boston are looking at 
similar services. 

But die T-l trendiness may fade as 
cable companies start to expand their 
services to provide Internet access up 
to 10 times faster than a T-l line. 

Short Takes 

Kwanzaa, the African-Americ- 
an year-end celebration, is now ob- 
served by an estimated 20 million 
people though die idea began spread- 
ing only 30 years ago. The Postal 
Service has commissioned a Kwan- 
zas stamp, Kwanzaa paradag am 
staged, and shops offer everything 
from Kwanzaa greeting cards to ob- 
jects used in die holiday’s rituals, 
reports the Los Angeles Times. The 
seven-day celebration is intended to 
bring African-Ameri cans together to 
celebrate their heritage. But though 
gifts are exchanged, it is not intended 
to replace Christmas and can be ob- 
served by anyone. 


More manatees died in Florida 
last year than any year since the 
government began counting in 1974. 
Final figures have not been compiled, 
but through October, 383 of the big, 
blubbery sea mammals died, exceed- 
ing the 1990 record of 206. A major 
cause has been loss of natural habitat 
— the manatf-p. inhabits bays and 
rivers — rvf ex panded human 

activity. Boat collisions killed 56 of 
the slow-moving creatures through 
October. Though now a protected 
species, die manatee, which can 
weigh more than 1 ,000 pounds (450 
kilograms), was Ioag hunted for its 
flesh, hide and oil. 

Most Americans of a certain 
age recall the series of rhyming 
signs the Burma-Shave company 
put along rural roads as one of the 
most successful campaigns of die 
time — owing in large part to the 
sort of gentle humor exemplified by 
this favorite: 

WITHIN THIS VALE 
OF TOIL 
AND SIN 

YOUR HEAD GROWS BALD 
BUT NOT YOUR CHIN — 
USE 


BURMA-SHAVE. 

But American History magazine 
reminds us of a time that Burma- 
Shave was nearly too clever. A 1 955 
jingle promised: 

FREE — FREE 
ATRIP 
TO MARS 
FOR 900 
EMPTY JARS 
BURMA-SHAVE. 

No one at the shaving-cream 
company’s headquarters in Min- 
neapolis imagined the offer would 
be taken seriously. But an enter- 
prising Appleton. Wisconsin, store 
manager named Arliss French 
offered 15 cents a jar and managed 
to accumulate 900. Burma-Shave. 
not wanting its good name tarnished, 
was briefly perplexed. Then 
someone suggested sending Mr. 
French and his wife to the German 
town of Moers, pronounced 
something like Mars. In the spirit of 
things, Mr. French showed up in a 
silveiy space suit. He and his wife 
were treated as guests of honor at a 
Moersfestival. And the day was 
saved. Burma-Shave. 

International Herald Tribune 


Gingrich the Biggest Spender 

WASHINGTON — Newt Gingrich, the House speak- 
er. spent more money than any other House candidate last 
fall. His Democratic rival was the second-biggest spend- 
er, according to the Federal Election Commission. 

Mr. Gingrich spent $5.4 million of the $6.3 million he 
raised for the race in Georgia's Sixth District, and his 
opponent. Michael Coles, a businessman, spent around 
S33 million, the commission said. 

The high spending in the race reflected the escalating 
costs of campaigns in general. A record $660 million was 
raised by a 11 candidates for congressional races — $440 
million by House candidates and $220 million by Senate 
candidates. In 1 994, the total was $61 1 3 million. 

On the Senate side, the biggest spender was Mark 
Warner, a Virginia Democrat, who spent $1 1 .6 million in 
a failed bid to unseat the Republican incumbent, John 
Warner, who spent $5.2 million. (NYT) 

Line-Item Veto Is Challenged 

WASHINGTON — Six lawmakers have opened a 
long-promised legal challenge to the constitutionality of a 
new law that vastly expands the power of the president by 
allowing him to strike specific programs from spending 
bills. 

In a lawsuit filed in U.S. District Court in Washington, 
the lawmakers contend that the line-item veto illegally 
rewrites the Constitution through its historic surrendering 
of congressional power to the office of the president. The 
new law, according to the suit, circumvents a consti- 
tutional requirement that die president veto whole bills, 
not pieces. 

"The idea that one guy can go back and rearrange the 
pieces to suit himself smacks of a royal prerogative that 
we tried to get away from over 200 years ago.” said 
Representative David Skaggs, an Oklahoma Democrat 
and one of the six legislators. (WP) 

Quote /Unquote 

President Bill Clinton, extending for six months the 
suspension of a law that would allow Americans to sue 
foreigners doing business in Cuba and using property 
confiscated from them: “The Cuban people have lived 
under tyranny for too long. We must sustain our efforts to 
hasten the arrival of democracy in Cuba.” (AP) 


CUBA: Clinton Extends Delay of Trade Law Aimed Against Castro 




Continued from Page 1 

called the waiver “a constructive move 
— a step in the right direction.” 

However, his statement continued, 
“We remain firmly opposed to all ex- 
traterritorial legislation, whatever its 
source, and will continue to defend oar 
interests.” 

Mr. Clinton originally suspended the 
, lawsuit provision in August, when the 
decision was politically risky because 
Florida, a key state in his campaignJbr 
re-election, has. a large Cuban exile pop- ’ 
ulation that favors tough action against 
Mr. Castro. 

But Mr. Clin ton carried Florida and 
won a far larger share of the Cuban- 
American vote than any recent Demo- 
cratic candidate. With the election be- 
hind him, die president was free to re- 
spond to the concerns ofEuropean allies, 
Canada and other countries that opposed 
the lawsuit provision because they 
viewed it as an effort to impose U.S. 
policy on them. 


By announcing the suspension now, 
before Congress returns and at a time 
when political attention here is focused 
on the ethics case of die House speaker. 
Newt Gingrich. Mr. Clinton minimized 
domestic repercussions, independent 
analysts said. 

Senator Jesse Helms, Republican of 
North Carolina, and Representative Dan 
Barton, Republican of Indiana, the law’s 
sponsors, issued statements criticizing 
the president’s action, and Mr. Helms 
will probably make an issue of it at next 
week’s hearing on Mr. Clinton’s nom- 
ination of Madeline Albright to be sec- 
retary of state. 

But neither of them sits on an ap- 
propriations committee, where Mr. Clin- 
ton needs the support of senior Repub- 
licans to win passage of foreign aid and 
United Nations funding. 

The president opposed the law before 
last February's downing by Cuban fight- 
er jets of two small planes operated by a 
Mia mi-based exile group forced him to 
sign it. He has since used it as a lever to 


get reluctant allies to move closer to the 
U.S. position on Cuba. 

Mr. Helms acknowledged as much, 
saying in his statement that “there is no 
question that pressure from the Helms- 
Button law has forced our .European 
allies to take a tougher stand against 
Castro." 

But Mr. Helms said that was “no 
justification for giving our allies a per- 
manent carte blanche to traffic in stolen 
American property, as a reward for do- 
ing what they should have been doing all 
along.* 


Education Directory 


Appears every Tuesday. 
To advertise contact 
Quistelle Forrader 

TeL: + 33 1 41 439476 
Fax: + 33 1 41 43 93 70 

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WATER, WATER EVERYWHERE By Wayne Robert Williams 


ACROSS 
1 Blab 
6 Airplane 




13 Remind again 
and ag ain of an 
error 

20 Stopped tying 

21 Get tax under 
the collar 

22 Very hot under 
the collar 

23 Buc kR ogeiVa 
female ' 
companion 

24 It opens with & 
75-bar bassoon 
soto 

26 Poor surfer 

27 Ref. set 

28 Zodiac symbol 

29 Like Abner 

30 “l, 001 Arabian 
Nigtns'hero 

31 Qoffls 

34 Roman way 

35 Fr.reSgteuw 

36 Charged 


39 Parade 
decorations 

41 Monumental .. 

42 Esophagus 

44 Completes a 

• graveside 

ceremony 

45 Country singer 
Sack 

46 Droopy-eared 
one 

48 FoBow.as 

advice . ■ 

49 Social activities 

50 Noted Dixieland 
clarinetist 

52 Unequaled 

54 Thesun,dK 
moon and the 
stars 

55 Implant 

56 Notorious 
London prison 

58 Like some 
stocks, for short 

61 Initials oo a 
rocket 

62 Rum cocktail 

65 Ordes and such 


Esc. 1911, Paris 
“ Saak Boo Doe Noo 1 


A Space for Thought 


66 Fiesta, feg. 

67 Mystery writer 
Josephine 

68 Italian province 

or its capital 

70 Disney doer 

71 Caesar’s weD 

72 Sitcom 
Originally tided 
TTbese Friends 
of Mine" 

73 Bouquets 

77 Scotland yards? 

80 Corp s un it 

81 Basins 

82 Neural 
transmitters 

83 "Happy Days* 
rote 

85 Papal capes 

86 Engine stats 

87 It gives players a 
cushion 

89 Birdcalls 

92 Meteorological 
(hnim 

93 Tennis player 
Ramirez 

94 ddFuego 

96 Bailey’s 
bailiwick 

97 “Walking on 
Thin Ice’ singer 

98 Those playing 
the rote of Boris 
Godunov 

IDO Athos, to 
Fortins 

101 Writer Rogers 
St- Johns 

103 like a 

Samaritan’s 

hdp 

107 Tangle 

108 Implement 

100 Staffing 

110 Goddess of 
peace 

111 Crook 

112 Understanding 

113 Cause for an 
insurance claim 
DOWN 

1 Derisive laugh 

2 Jim Palmer, 
notably 

3 Preventing an 
attack, Inaway 

4 Cadets' Inks. 

5 Drink for 
Beowulf 

S Camera setting 

7 Not the 
prayerful sort 

8 “You— —worry 

* 

9 Clash 

10 Major record 
CO- 

12 Sounds of 
reproof 



©/Vein York Times/Edited by WW. Short Is. 


12 Display item 

13 Ransackers 

14 Indy 500 family 

15 Some 
Protestants: 
Abbr. 

16 Sale item abbr. 

17 ppm's 
nightmare 

18 Firing np 

19 Overlooks 

25 Gene Autry pic 

31 Hlsfeast day is 
April 11 

32 The unmarried 
woman in “An 
Unmarried 
Woman’ 

3S Submitted 

37 Ditties 

38 Arabic letter 

40 Makes amends 

41 Writer Wiese) 

43 Hard to describe 

45 Holiday - 
decorations 

46 State 
orat ort cafly 

47 Intrinsfcally 

48 Fighting 

49 Show senary 

51 He 


52 Capital of Guam 

53 One of the 
Canaries 

57 The place 

58 i960 Sinatra 
movie 

59 Roberts of 
“Chiufie’s 
Angelas 

60 Salad green 

62 Fr. girls 

63 Bothers 

64 Actually 
69 Behind the 

times 
7T « gets 
ptdde 
72 Seabirds 

74 Small African 
anretope 

75 Noted workshop 
chief 

76 Ship, in poetry 

77 Engfish writers 
Derek and 

Christopher 

78 Advocate 

.79 TbeEtearie 
EooWAldAdd 
Tea* author 
80 1974 Chicago hit 


83 Furniture 
protector 

84 Roulette player’s 
opponent 

85 Unrest 

87 Steed's 
movement 

88 Position oneself 
to hear better 

90 Pageant element 

91 Low tracts 


95 Chip feature 
98 Engage ta 


99 Cartoonist 
Drake 

JM Dry 

102 Defy 

104 Maura 

105 Bask figure; 
Abbr. 

106 “ moment” 


tintoi 


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•"••' i. -*-•• .. : <r 


PAGE 4 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAX, JANUARY 4-5, 1997 


Congress Chief Backs 
Delhi — Or Does He? 


CompikdbfOtrSx&FriraDtsFu>ei*i 

NEW DELHI — Congress (I) Party 
lawmakers elected the party's president, 
Sitaram Kesri, as their new parliamen- 
tary leader Friday, but his declarations 
of support for India’s minority gov- 
ernment were immediately undercut by 
senior party officials. 

After his election, Mr. Kesri, who 
replaced former Prime Minister P. V. 
Narasimha Rao as the head of the Con- 
gress Parliamentary Party, immediately 
sought to dispel rumors that a rein- 
vigorated Congress would set out to 
challenge the ruling minority coalition, 
the United Front, led by Prime Minister 
H. D. Deve Gowda. 

’‘All this talk about our withdrawing 
support to the United Front is wrong,” 
he told the parliamentary group. “It is a 
ploy to frighten you.” 

But a Kesri aide later dismissed the 
remark. “It was a tactical comment,” 
he said. 

And a former minister declared: “I 
won’t give the government six months. 
The Congress will form its own gov- 
ernment soon, be sure of that.” 

To survive, the center-left United 
Front, which has only about 190 seats, 
needs support from the 142 Congress 
Party members in the 545-seat lower 
house of Parliament 

Mr. Kesri became president of the 
Congress Party in September after Mr. 
Rao, who had spearheaded a drive to 
open up India's economy, stepped down 
in the wake of corruption charges. 

Mr. Rao, who was prime minister 
from 1991 until last May, when the 
party suffered its worst-eve r defeat in 
the general elections, quit as leader of 
the parliamentary group last month. An 
Indian court granted Mr. Rao bail Friday 
in a corruption case in which he is 
accused of bribing four opposition law- 
makers in 1993 to save his govern- 
ment. (Reuters. AFP) 

■ Diplomatic Contretemps 

Walter Pincus of The Washington 
Post reported from Washington: 

India may request the departure of 
one or more CIA or other American 
officials at the U.S. Embassy in New 
Delhi who met with India's counter- 
intelligence chief, leading to his resig- 
nation last month because the meetings 
supposedly were unauthorized. 

The American ambassador, Frank 


Wisner, recently returned to New Delhi 
and is expected to meet with Indian 
officials, according to people familiar 
with the maaer. They said he would 
oppose any effort to make American 
officials leave. 

Last month. Indian newspapers re- 
ported thar Rattan Sehgal, the No. 4 
official in the Intelligence Bureau, had 
suddenly resigned. The reports said Mr. 
Sehgal. whose job as counterintelli- 
gence chief brought him into contact 
with foreign embassy officials, had 
failed to file reports' about nine un- 
authorized meetings with U.S. diplo- 
mats, including the CIA station chief 
and two other agency officials who 
worked at the embassy. 

The State Deportment spokesman, 
Nicholas Bums, said that no one at the 

to leavefamf called the^matter an “in- 
ternal affair of the Indian government." 

A spokesman for the Indian Embassy 
here said he had “no information about . 
the matter.” 



Thais to Protest Raid to Burma 

BANGKOK — Thailand will protest to Burma about an 
attack early Friday on two camps in Thai territory that 
house Karen refugees, the army commander. General 
Chetta Thanajaro, said. 

“As a matter of principle we have to protest to the 
Burmese government when our border is infringed by 
troops from Burma, or any other country,” he said, adding 
that Burma should prevent such armed border crossings. 

Thai border police said twopeople were killed and five 
were wounded in the attack. The police said the refugees 
told them that 30 armed men dressed in uniforms of a 
breakaway Karen rebel group staged die attack. (AFP) 


the peak of 60.000 in late 1991. Beijing has refused to 
inherit the problem from the British colonial authorities 
when it resumes sovereignty next year. f API 

Indian Militants Renew Threats 

GUWAHATL India — Tribal militants fighting for a 
homeland in northeastern India on Friday threatened more 
attacks after claiming responsibility for a bomb attack on a 


The Bodoland Liberation Tigers Force released a state- 
ment in Assam stare's biggest city, Guwahati, saying it 
attacked the train Monday because the central and state 
governments had refused to meet its demand for a separate 
tribal stale by the end of 1 996. (Reuters) 


Hong Kong Shuts Refugee Camp China Belittles Its Pollution 


HONG KONG — Hong Kong closed a major detention 
camp for Vietnamese refugees Friday and moved its last 
1.500 occupants to other holding centers. 


The dosing of the Whitehead Detention Center began at 
dawn with not police, fire engines and armored cars 
standing by in case of resistance, but the operation went 
peacefully, Hong Kong radio said. Similar relocations had 
faced strong resistance, with thousands of Vietnamese 
throwing spears and rocks. 

Only 6.300 refugees remain in Hong Kong, down from 


BEIJING — China said Friday that its worsening pollution 
was no threat to the world environment and accused de- 
veloped countries of saying otherwise to monopolize global 
resources. “It is rumor and sensationalism,” the official 
China Daily said of reports on Chinese pollution. “It is a cry 
thar the sky is falling when a leaf flutters from a tree.” 

The newspaper added. “China, at its initial stage of 
industrialization, has drawn a lesson from the industrialized 
countries and has never been willing to sacrifice its en- 
vironment to develop its economy." f Reuters) 


2-Track Foreign Policy 

No Derailment Yet in South Africa 


EUtnndlW/'VgnMC ftwwnuBi 

Mr. Kesri after his election Friday as Congress parliamentary leader. 


BRIEFLYAS 


By Donald G. McNeil Jr. 

New York Times Service 

JOHANNESBURG — As South 
Africa struggles to develop a _ foreign 
policy in the post-apartheid era, it seems 
to be running its diplomacy on two 

tracks. 

Track One runs squarely through the 
Department of Foreign Affairs, where 
events are weighed in the cold light of 
history and African National Congress 
policy, experts are consulted and op- 
tions are passed upward through the 
foreign minister, Alfred Nzo, and the 
deputy president, Thabo Mbeki. 

Track Two is whatever President 
Nelson Mandela decides to announce. 

Most of the time, the tracks are par- 
allel Mr. Mandela is scrupulous about 
adhering to the government's goals, 
which he helps set. 

But he sometimes pulls abrupt 
switches, as he did on Nov. 27, when he 
a nnoun ced tha* South Africa would 
drop diplomatic recognition of Taiwan 
in favor of China, and in 1995, when he 
reversed months of quiet diplomacy and 
lashed out at President Sani Abacha of 
Nigeria for executing nine environmen- 
tal activists, calling for a boycott of 
Nigeria's oil and its expulsion from the 
Commonwealth. 

Asked whether the president often 
caught him off guard like that. Rusty 
Evans, director general of the Depart- 
ment of Foreign Affairs, paused, then 
said, carefully: “He's a major actor in 
foreign policy. I’m Dever surprised by 
anything Mr. Mandela does.' 

Unpredictability is not the only sa- 
lient characteristic of South African for- 
eign policy, analysts say. 

Even planned positions display the 
strains put on than: the advocacy of 
human rights versus the need for money 
from anywhere; the instinct to be a 
friend to all versus the -knowledge that 
some nations hate each other; the desire 
to put Africa first versus die recognition 
that .the developed world holds the 
power and many African countries are 
run by despots. 

With an economy about the size of 
Belgium's and a location just north of 
Antarctica, South Africa isn’t really po- 
sitioned to be a major-leaguer in in- 
ternational diplomacy. But it has the 
most powerful army and economy cm a 
troubled continent and a president re 1 
spected around the world, so its opinions 


are solicited and it is developing lofty 
aspirations. like a seat on an expanded 
United Nations Security Council. _ £ 

The African National Congress is stiff 
disentangling alliances it formed during 
the anti-apartheid struggle. - ’ 

White-ruled South Africa was a pari- 
ah, allied only with isolated nations like 
Israel and Taiwan, although it had 
powerful friends in the conservative 
wing of die Reagan administration. 
Black-ruled South Africa is back in the 
United Nations, the Commonwealth* 
and the Organization of African Unity. 
Partly in response to critics who ray it 
' has no policy, the Department of For- 
eign AJ&airs last summer issued a 33-; 
pag»» “discussion document” setting 
out high-minded goals. 

They include: insuring prosperity for 
the poor at home by seeking foreign 
investment; encouraging human right? 
and democracy mother countries: main- 
taining p onaUg mnent with any bloc; fo- 
cusing primarily on Africa, and south-, 
era Africa in particular, anti en- 
couraging freer trade between de- 
veloped nations and the Third World — - 
with the caveat that completely un- 
fettered trade hurts poor natrons. 

But many independent analysts say 
the real foreign policy is more prag- 
matic and mare - nostalgic. ’ 

The pragmatism shows in the hunger 
for investment “Do you think this gov- 
ernment would push human rights iq[ 
Indonesia if it turned but to be one of our 
major Trading partners?” . asked Chri^ 
Landsberg. a foreign affairs specialist at 
the Center for Policy Studies, a liberal 
research institute here. 

Joseph Diescho, a political scientist 
writing for the University of South' 
Africa, is even harsher .saying, “For- 
eign policy is up for sale. 1 ' 

The “nostalgia” criticism comes 
from experts like Dennis Venter, di- 
rector ofuie Africa Institute in Pretoria,’ 
Who say that the ANC clings to coun-> 
tries that helped it during the anti-, 
apartheid struggle, including Libya, 
Cuba, Iran and Iraq. 

Meanwhile, as it concentrates on- 
. Africa, it confronts human-rights vi-j 
olatjons ranging from merely rigged 
. elections, as m Zambia and Zimbabwe.; 
to genocidalbutchery.as in Rwanda and 
Burundi. . /V . 

. “You can'tlet yourself be bullied tty' - 
the notion of African solidarity," said 
Mir. Venter. f 


V** 




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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JANUARY 4-5, 1997 


PAGES 


'"“■us, 


cupy a Hill, Briefly, Defying Netanyahu 


By JoeL Greenberg 

New York Times Service 


BETEL, West Bank — In a carefully 
-grimed challenge to Prime MmisterBen- 

^^min Netanyahu, Jewish settlers on Fri- 
day parked seven mobile homes on a hill 
overlooking this settlement and moved 
mio them in an attempt to expand their 
community. 

After a standoff with security forces 
that lasted into the afternoon, these tilers 
agreed to leave in exchange for a prom- 
ise from Defense Minister Yitzhak Mct- 
dechai to meet Sunday to. discuss their 
demand to enlarge BetEL : 

It was tile first serious attempt hy the 
settlers toffextbeir political muscle on 
the ground against Mr. Netanyahu, 
whom they overwhelmingly supported 
in the Israeli election last May. 

Their move came at a time when Mr. 
Netanyahu is locked in diffi cult nego- 
tiations with the Pales tinians on a with- 
drawal from most of Hebron and on 


further pullouts in fee West Bank. He is 
also facing heavy international pressure 
to stop settlement expansion. 

The settlers argue that Mr. Netanyahu 
has not kept promises to expand and 
build new settlements. They have m«A» 
Bet El a test case after a woman and hex 
son from the 5,000-member commu- 
nity, Ita and E p hraim Tzur, were killed 
last month by Palestinian g unmen. 

At their funeral, Mr. Netanyahu 
pledged to strengthen the settlements, 
and Yoel Tzur, the bereaved husband 
and father, appealed for an expansion of 
Bet EL Mr. Netanyahu reportedly con- 
sidered the expansion, possibly into a 
neighboring army base, but instead 
passed a cabinet resolution to restore 
financial incentives to the settlements. 

After taking office in June, the gov- 
ernment lifted crabs on settlement ex- 
pansion, and Mr. Mordechai has since 
authorized construction of hundreds of 
new housing units. But the settlers say 
that this is not the settlement chive they 


had expected. They described their ac- 
tion Friday as an attempt to push him in 
that direction. 

The target of the settlement attempt 
was Jabal Artis, a hill overlooking Bet 
El where the settlers have repeatedly 
attempted to gain a foothold. On several 
occasions daring the term of the pre- 
vious government, soldiers evicted set- 
tlers after they squatted on the hill, and 
Mr. Netanyahu said recently that he 
would not permit unauthorized settle- 
ment there. 

Overnight from . Wednesday to 
Thursday, apparently undetected by the 
army, the sealers hanled seven mobile 
homes up die hill, hooked them up to 
water and electricity and brought in 
furniture and appliances. Several fam- 
ilies moved in, posting their names on 
the front doors. 

A sign proclaimed the name the set- 
tiers have given their new neighborhood: 
Maoz Tzur, or the Tzur Stronghold. 

At noon Friday, scores of settlers 


milled about at the site. Teenagers 
marked out paths with stones, a bulletin 
bo3rd announced Friday evening pray- 
ers and meetings of youth groups, and 
children climbed a jungle gym. Inside 
the homes, young mothers sal next to 
babies in playpens. Yesbiva students 
danced in a circle and sang, while others 
studied religious texts and prayed. 

The police and soldiers massed 
dozens of vehicles and hundreds of men 
and women in preparation for a possible 
eviction order. Aiiny generals held con- 
sultations with settler leaders and spoke 
with Mr. Mordechai. 

Initially, the settlers vowed to stay 
put 

“This is our response to the Arabs* 
wish to kill us and throw us out of here,*' 
said Naava Zarbiv, who stood at the 
doorway of her mobile home. 

Eldaa Goldenberg, who moved into a 
trailer with his pregnant wife and 8- 
month-old daughter, called it "a real 
Zionist response” to realize “a 3,0 00- 


year-old historical right to live any- 
where in the Land of Israel.” 

“The prime minister is under great 
pressures." Mr. Goldenberg said. 
“We're strengthening him by creating 
facts on the ground. We don't believe in 
diplomacy, we vote with out feet.” 

Mr. Tzur, who directed the settlement 
attempt, said he bad no criticism of Mr. 
Netanyahu. ‘‘The prime minister is 
caught in a web of false agreements, and 
we have to help him get out of it.” he 
said. “We don’t want a confrontation, 
we simply want to make our deter- 
mination dear. After every loss of life 
we will move ahead on the ground.” 

In the end. Mr. Tzur and other leaders 
of Bet Ei reached an agreement with Mr. 
Mordechai to vacate the hill and remove 
the mobile homes Sunday, in return fora 
meeting. Mr. Tzur said that several op- 
tions to enlarge Bet EI would be dis- 
cussed, but he acknowledged that he had 
received no solid commitments from the 
defense minister. 


Israeli Jets Strike 
Targets in Lebanon 

The .Associated Press 

MARJAYOUN. Lebanon — Is- 
raeli jets staged a dozen bombing 
runs while artillery bombarded 
southern Lebanese villages Friday 
in retaliation for an attack by Shiite 
Muslim guerrillas on three Israeli 
Army ourposis. 

Security' sources in southern Le- 
banon said the fighter-bombers 
struck suspected guerrilla hideouts 
in a series of villages. Thousands of 
Lebanese sought shelter. 

The trouble began when Shiite 
Muslim guerrillas opened fire on 
three Israeli outposts in southern 
Lebanon on Friday morning. 

The security sources said the Is- 
raelis and their allied militiamen 
responded with mortars, rocket- 
propelled grenades and howitzers 
against facing villages. Israeli jets 
later began their raids. 


Hopes Fade for Quick Hebron Pact 


6 


By Serge Schmemann 

_ New Yort Times Service 

JERUSALEM — Prospects for an 
agreement rat Hebron, which officials 
repeatedly described as imminent over 
the past two weeks, grew dim Friday as 
both Palestinians and Israelis drew firm 
fines over the future of their political 
process. 

Separately, Israeli investigators re- 
leased a second soldier who had been 
arrested on suspicion that he was aware 
of Private Noam Friedman’s plans to 
shoot at Palestinians in Hebron in an 
effort to sabotage an Israeli withdrawal. 
The six Palestinians who were wounded 
in tire attack Wednesday were aU re- 
ported to be recovering. 


Officials said there was insufficient 
evidence to hold the other soldier, Yuval 
Ebli, strengthening the initial suspicion 
that Private Friedman, an Orthodox Jew 
with a history of mental problems, had 
acted alone. 

By all accounts, the problem in the 
negotiations was not tire Israeli pullback 
in Hebron, though some problems re- 
mained to be resolved there, but the 
Palestinian demand that UJS. mediators 
draft a detailed “road map” for the 
fruitier withdrawals required by existing 
agreements. - 

Yasser Arafat, the Palestinian leader, 
put it starkly aftCT what was described as 
a tense meeting with the U.S. mediator, 
Dennis Ross, in Gaza on Thursday, 
when he said, “There are more burning 



iU V\ Ml 

w 

\\ Yiib 

%m io> 


Israel Gets U.S. Satellite Link 


The Asso ci a t ed Press 

JERUSALEM — The Israeli mil- 
itary linked up Friday to the U.S. 
missile w arnin g satellite system, 
providing Israel with real-time warn- 
ing if a missile is launched against it- 

In the 1991 Gulf War, Iraq fired 39 
Scud missiles at Israel, killing two 
people and wounding hundreds, and 
causing extensive damage. 

Patriot anti-aircraft missiles sup- 
plied by lbs United States proved in- 
effective against the Soviet-made 
Scuds. Israel is now developing an 
anti-missile missile, the Arrow, with 
U.S. financial aid. 

The satellite link was inaugurated 


at tiie Tel Aviv military headquarters. 
Satellite data will be sent on in real 
tune from the U.S. early warning cen- 
ter in Colorado. Real-time warning of 
missile launches would help Israel 
intercept the projectiles at an early 
stage in their trajectory. 

Since the Gulf War, Iraq has been 
forbidden by UN sanctions to possess 
ground-to-ground ballistic missiles. 
Bnt Iran, also hostile to Israel, has an 
improved Scud and is reportedly try- 
ing to obtain the Jonger-range North 
Korean Nodong- 1 missile. Syria also 
has the upgraded Scud and is believed 
to be capable of manufacturing chem- 
ical and biological warheads. 


issues than signing the agreement.” 

Mr. Ross met again with Mr. Arafat 
on Friday, once again seeking to per- 
suade him to meet with Prime Minister 
Benjamin Netanyahu and conclude a 
deaL But with tire onset of the Jewish 
Sabbath, no meeting was possible now 
until Saturday evening. 

There was speculation that Mr. Ross 
would return to Washington if the talks 
deadlocked, as he did in October after a 
month of sterile bargaining. 

On tire Israeli side, Mr. Netanyahu 
was said to have told Mr. Ross on Fnday 
that he would commit Israel only to the 
first of three scheduled redeployments, 
and that he would not agree to the other 
Outstanding Palestinian demand for Is- 
raeli-Palestinian patrols at the Cave of 
the Patriarchs in Hebron, a site sacred to 
both Muslims and Jews. 

Mr. Netanyahu’s stance reflected 
mounting opposition to the agreement 
within his cabinet. Already. 7 of tire 18 
ministers have declared they will not 
approve the Hebron agreement as it 
stands, and Justice Minister Tzahi 
Hauegbi warned Thursday chat if Mr. 
Netanyahu agreed to ironclad dates for 
further redeployments, he would with- 
draw his support. On Friday, Israel Ra- 
dio said that two ministers from the 
religious Sbas party were also waver- 
ing. 

If 10 ministers line up against the 
agreement, it will be defeated. 

In Mr. Arafat’s comer. President 
Hosni Mubarak of Egypt, who accord- 
ing to Israelis has an increasingly strong 
voice in Palestinian decisions, argued in 
an interview in favorof standing firm on 
the further redeployments and a Pal- 



Orcf Hnimd/nK .v„»v mtd Rr» 

Israeli children boarding a protected school bus in Hebron on Friday amid reports that Muslim militants have 
vowed to avenge an Israeli soldier's shooting of Palestinians in the disputed West Bank town Wednesday. 


estinian presence at the Cave of the 
Patriarchs. 

“The impression among the Arabs 
and the Palestinians is that they want to 
finish the Hebron issue and then sit tight 
on everything else.” Mr. Mubarak said 
of the Israelis. “When they say they do 
not specify a date for the end of re- 
deployment they create more fears.” 

As for the tomb of the Patriarchs, 
which the Muslims call the Ibrahimi 


Mosque. Mr. Mubarak said that if Mr. 
Arafat agreed to sole Israeli control, 
“his acceptance will be met by de- 
nunciation and great criticism from the 
Arab and Islamic states.” 

Though negotiators on all sides said 
an agreement on Hebron could still be 
reached, the dispute over future re- 
deployments confirmed that Israel's 
long delay in pulling out of the West 
Bank city had effectively transformed it 


into a test of the entire agreement 

On another front, the Muslim militant 
groups Hamas and Islamic Jihad 
threatened lo avenge Private Fried- 
man’s assault in Hebron. 

Sunday also marks the first an- 
niversary of the assassination of Yehve 
Ayyash. a Palestinian bomb-maker 
known as the “Engineer.” His killing in 
the Gaza Strip prompted several suicide 
bombings in Israel last year. 


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A REPORTERS LIFE 

fey Walter Cronkite. 384 pages. 
$26.95. Knopf. 

Reviewed by 
Jonathan Yardley 
'T'HE most revealing com- 
* LA meat in Walter Cronkite’s 
memoir occurs during his ac- 
count of how he and his col- 
leagues at CBS News covered 
the assassination of John 
Fitzgerald Kennedy. Readers 
of a certain age will recall that 
Cronkite came dose to break- 
ing down rat camera that 
November afternoon in 1963; 
it was a lapse into pure human 
vulnerability that touched 
many Americans and doubt- 
less had much to do with 
Cronkite’s eventual status as 
‘‘the nation's most trusted per- 
son.” But this is not what 
Crookite is most eager to tefl 
us about that day. Rather, it is 
this: -^Oer- flash was -heard 
over the CBS News Bulletin 
slide and intaxupted die soap' 
Opera ‘As tire World Turns.’ 
We beat NBC onto the air by 
hlraost a minute.” . . 

' This last is written not in 
amusement or self-mockery 
but in unvarnished pride: We 
beat the competition by one 
whole minute! Small wonder 
’ Cronkiie calls his autobio- 
graphy “A Repealer’s Life,” 
for a reporter is what be has 
been, first and foremost, his 
entire adult Hfe. He is now SO 
years old, but he looks back cm 
the scoops and headlines of bis 
life with exactly fee same boy- 
ish enthusiasm wife winch be 
pursued them. Oyer the years 
ge rose to considerable em- 
inence and acquired, as die 
hninent tendto do, a degree of 
pomposity, but he never lost 
fee naive, bran-yesterday 
quality that drives the best re- 

|f°Tteresult is a curious book, 
eart schoolboy chronicle of a 
Jfe spent in zealous, single- 
minded pursuit of breaking 
jftews, part-state memoir of a 
journalistic bigfooL The firstis 
considerably more appealing 
Sian the second. Far too much 
space is wasted on Cronkite’s 
yersion -of the pro m in e n t 
memoirist's stock in trade, Fa- 
foous PecpfeJ Have Met Like 
jj virtually all journalises who 

have ventured into this genre. 
Cronkite does not understand 
*— or has simply lost sight of 
L. the essential troth tint the 
« Tjresidenis, generals and other 

; fofty scoundrels who occa- 

] gjonafly consort with jouma- 

» gstedosompuresetf-interesfc 

* it is the mamm ons fee jour- 

nalists represent rather than 

fhe journalists themsehres that 


these 

tatiourafeer than friendship is 
the only business at hand. 
Cronkite, alas, proves no less 
' susceptible to illusions of in- 
timacy than -others before 

liini- 

: It is when he writes about 
such matters that Qonkite is at 
his least attractive: pontifical, 
setf-congramlatory, patroniz- 
ingly avuncular. These were 
characteristics of his televi- 
sion manner in fee late years of 
his career. When hie had per- 
haps begun to believe all that 
“most trusted man in Amer- 
ica” malarkey. But he wasn’t 
always that way. The young 
Walter Cronkite was an eager- 
beaver reporter who put in a 
long apprenticeship far from 
the limeligfrt that eventually 
shone so brightly on him. 

Cronkite was bom in Kan- 
sas, moved to Texas when he 
was a boy, but at some level 
-has remained a Kansasfroy all 
his life. When he was a 
schoolboy in Houston, be fell 
under the influence of a man 
named Red Bimey, “a news- 
paperman who thought that 
high schools ought to have 
courses in journalism” and 
“spent a couple of days each 
week circulating among Hou- 
ston's five high schools 
preaching fee fundamentals 
of a craft be loved.” He 
taught his acolyte not merely 
the nuts and bolts of news 
coverage but more important 
matters: “Every criticism, 
every s ugg estion, made clear 
feat there was a sacred cov- 
enant between newspaper 
people and their readers. We 
journalists had to be right and 
we had to be fair.” 

Cronkite tried college, but 
not for long. He wanted to be 
out there scooping the com- 
petition. of which there was 
plenty in those days when 
every city had several news- 
papers and when radio was 
.beginning, however tentat- 
ively. to enter the news busi- 
ness. He moved through a 
number of jobs in fee years 
between fee wars: as a report- 
er for the Houston Press, an 
announcer fra - a Ka ns a s City 
radio station, a correspondent 
for United Press, a play-by- 
play broadcaster for Uni- 
versity of Oklahoma football 
gnmfts- a PR man for Braniff 
Airways. He was ambitious, 
intelligent, willing to listen 
and to leam; by 1949, after 
covering the European war for 
United Press, he had made ms 
way to Washington and soon 
enough found himself in front 
of a television camera. 

This was at Washington s 

WTOP-TV. where CBS sent 


him to get an evening news 
broadcast under way. He had 
‘ ‘primitive equipment, no 
film except that which we 
shot locally, and a limited 
budget.” He also had no ex- 
perience with television at all, 
which put him on an even 
fooling wife just about every- 
one else in the new world of 
TV news. He did have one 
tiling, though: “a gut feeling 
that television news delivery 
ought to be as informal as 
possible,” spoken “to that 
single individual in front of 
his set in the intimacy of his 
own home, not to a gathering 
of thousands.” 

From there on out it was a 
long uphill ride. The 1952 con- 
ventions — “a brief moment 
of glory in television's infancy 
before the politicians dis- 
covered its vast potential and 
set out to master it” — set him 
on fee path to “anchorman,” a 
word coined at CBS and a job 
shaped in large measure by 
Cronkiie himself. In that ca- 
pacity he presided over CBS's 
coverage of civil rights, Vi- 
etnam, the ’60s and the space 
p ro g ram. Of fee latter he was a 
sham eless booster, and he re- 
mains ttnapologetic unto this 
day for his gee-whizzical cov- 
erage. 

Though he pulls most ofhis 
punches when he writes about 
what has happened at CBS 
since he left fee anchor's 
chair, he leaves no doubt that 
just about everything there 
was better in his own day. He 
is right- *. 

Jonathan Yardley is on the 
staff of The Washington Post. 


New Gambian President 
Consolidates His Power 

Thr Ashn iated Press 

BANJUL, Gambia — President Yayha Jammeh sealed his 
hold on power Friday when his party claimed an over- 
whelming victory in parliamentary elections, winning 33 of 
fee 45 seats at stake. 

The outcome of the vote, which was held Thursday, means 
that Mr. Jarameh’s Alliance for Patriotic Reorientation and 
Construction has more than the two-thirds majority it needs 
to pass any bill in the National Assembly. 

The parliamentary vote and a presidential election won by 
Mr. Jammeh in September have technically ended army rule, 
but in reality will probably do little to advance democracy in 
Gambia, a former British colony that gained independence in 
1965. Mr. Jammeh, 31, seized power in a July 1994 coup 
wheat he was an army captain, then retired from the military 
to become eligible to run in fee presidential election. 

He virtually assured himself victory by banning political 
opposition until two weeks before the vote. 


Death. Penalty 
For Rwandans 

The Asst tiled Press 

K1BUNGO. Rwanda 
— A court on Friday sen- 
tenced to death the first 
two Rwandans convicted 
in fee 1994 genocide of at 
least 500.000 people, 
mostly Tutsis. 

Deo Bizimana. a former 
hospital aide, and Egide 
Gatanaza. a former local 
official, were convicted on 
1 1 charges, including or- 
ganizing massacres and 
raping and pillaging their 
Tutsi neighbors. 

They have 15 days to 
appeal the sentences. 


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PAGE 6 


SATURDAY-SUNDAX JANUA RY 4-5, 1997 

vnrrnnr at c/nviivuiN 



It era lb 


INTERNATIONAL 



Sribune 



nvusBED wmt me mw yqrk times and the wakhincton KJST 


The Gingrich Case 


The House is making its ponderous 
way toward a judgment in die case of 
the speaker. Newt Gingrich. From 
much of what has been said thus far, 
there seems at least an even chance the 
judgment will be reached for the wrong 
reasons. Here are some of the many 
things that ought not be the basis for it, 
but, sadly, probably will. 

Tt ought not be retribution for Mr. 
Gingrich's role in the ouster a decade 
ago of the Democratic House speaker 
Jim WrighL The Wright case was part 
of the launching pad for Mr. Gingrich ’s 
career, and the symmetry now is tempt- 
ing, not least because of Mr. Gin- 
grich's towering self-righteousness in 
the matter, and with regard to other 
ethics issues since.. But he was right 
about Mr. WrighL, whose venality did 
cast discredit on the House and who 
deserved to go. The purpose of this 
case ought not be to avenge that. 

It ought not be to avenge the 1994 
election results, either. Mr. Gingrich & 
Co. campaigned in 1994 in part on die 
notion that after too many years of 
Democratic rule the House as an in- 
stitution had become corrupt, and once 
again they were right It had. The 
Wright case was part of the predicate 
for tbaL so also the House hank and 
post office scandals and a general 
sense that the place was being run in a 
seedy way and mainly for the benefit of 
those who ran iL 

You can argue that not all that much 
has changed since die Republicans 
took over, that they have their own 
examples of conuption to answer for 
and that their housecleaniog has been 
superficial and fallen shorL But that's 
not what's at issue in the ethics case 
against Mr. Gingrich either. 

The Gingrich case also ought not be 
decided purely in terms of Republican 
Party self-interest He should not be 
kept as speaker as a matter of party 
pride and to deny the Democrats the 
satisfaction and what you might call the 


bragging rights that would accompany 
his ouster. We say that even though we 
ourselves are repelled at the thought of 
some of die Democratic crowing that 
would result. On tiie other hand, neither 
should the Republicans dump him 
simply because it has become polit- 
ically inconvenient to have him around. 
You hear a lot of that argument: Forget 
Che merits, whatever they may be — 
he's damaged goods and will hurt the 
cause (not to mention our own re-elec- 
tion prospects in 1998), so for the great- 
er good he needs to go. That seems to us 
the un worthiest argument of alL 

Finally. the Gingrich case is not a 
sort of inverse bathing beauty contest 
with Bill Clinton — a case of “our 
man’s corruption is less than your 
man’s.” It may well be that by such 
comparative standards Mr. Gingrich 
ultimately will seem the petty offend- 
er, but dial's not the way to judge either 
man. Both are in trouble just now in 
part for having flicked aside and shown 
contempt for the campaign finance 
laws, but beyond that the cases are 
separate and deserve to remain so. 

Mr. Gingrich has offered a number 
of technical defenses for his actions. 
He blamed a lawyer for one offense, 
and said another was the result of hav- 
ing failed to consult a lawyer on a point 
of tax law. 

But that' s not going to help him. Mr. 
Gingrich is accused of having helped 
set up an elaborate apparatus to cir- 
cumvent both the tax and campaign 
finance laws by raising large amounts 
of political money in the guise of char- 
itable contributions. He also is accused 
of having given the ethics committee 
false information about a key part of 
the apparatus. He says he did no se- 
rious or witting wrong that warrants 
denying him the speakership. That’s 
the question the ethics committee and 
House ought to be deciding, indepen- 
dent of all the resL 

— THE WASHINGTON POST. 


Israel s Lethal Mix of Religion and Nationalism 

» * .m. j m «Mre’s mililarv foil 


B OSTON — When Noam Friedman 
fired his Israeli Army assault rifle 
at Palestinians in a Hebron market, he 
made dear a painful truth. He showed 
how dangerous the mixture of religion 
and nationalism in Israel has become. 

Mr. Friedman was evidently an un- 
balanced young man; a psychiatrist had 
recommended against his being taken 
into the army. But whatever his mental 
state, he acted in an atmosphere of 
fanatical religious nationalism, and he 
uttered the slogans of the movement. 

Asked why he had fired into the 
crowd, be claimed a religious justi- 
fication. “Abraham bought the Cave of 
the Patriarchs for 400 shekels of sil- 
ver," he said. “No one will return it” 
That is the biblical episode cited by 
religious leaders who are trying to pre- 
vent the redeployment of Israeli forces 
from most of Hebron, as required by 
the Oslo agreements. 

A group of nationalist rabbis had 
called on soldiers to disobey orders to 
withdraw from Hebron. Rabbi Hiezer 
Waldman, who heads a yeshiva in the 
settlement of Kiiyai Arba, said: “Sol- 
diers must not follow an order that is 
against a commandment of the Torah.” 


By Anthony Lewis 


as Hebron, where Jews lived for many 
generations until they were massacred 
&1929. 

Thus the shooting in Hebron showed • But the principle of deciding temt- 
agflin what many in Israel's secular orial claims on the basis of ancient re- 
majority now consider the greatest ligious texts is a recipe for insecurity, 
menace to their society. The planting of 

That is the apparent fact that some sealers amid mare than iuu.uuu fai- 
ultra-Ortbodox Israelis do not accept estinians in Hebron has put a heavy 
the authority of the democratic state, ■ burden cm the Israeli Army. Thinkwhat 
believing rngfrarf t hat they can enforce the world would belike if every tribe and 
what they view as divine command. sect pressed its claims on dial basis. _ 

Israel has lost a prime minister to Moreover, the idea is in conflict with 

- ■ 


fanaticism. Yigal Amir said after as- 
sassinating Yitzhak Rabin in 1995 that 
he had fulfilled a religious duty. In 
1 994 Baruch Goldstein, like Mr. Fried- 
man a settler, shot 29 Palestinians to 
death as they prayed in Hebron. 

Nor can those killings be dismissed 
as the acts of isolated loners. A number 
of young Israeli women have declared ~ 
themselves admirers of Yigal Amir, international politics and diplomacy: 
Extremists have made Baruch Gold- United Nations resolutions. President 
stein’s grave a place of pilgrimage. 

The sincerity of utau-Qrfocxiox be- 
lievers who see divine authority for 
territorial claims is not in doubt Nor 
can anyone question the emotional at- 
tachment of some Jews to places such 


the historical basis of Zionism. 
Theodor Herd, the founder of the 
movement, wanted a Jewish national 
homeland not for religious reasons but 
to enable Jews to live a normal life. 

Those who created modem Israel, 
David Ben-Gurioa and the rest, did not 
seek to found its legitimacy on biblical 
texL They sought that legitimacy in 


Harry Truman’s crucial support at the 
state's founding in 194$ acid so on. 

Most Orthodox Jews rejected Zion- 
ism until after World War II, and some 
still do. It is only in recent years that 
ultra-Ortiiodox elements in Israel have 


acted to enlist the state’s military force 
on behalf of their religious visions — 
and that nationalists have used reli- 
gious groups to legitimize their max- 
imalist terri torial aims. 

That is the mixture that is so dan- 
gerous for Israel. It has entangled and 
complicated the effort to resolve the 
Israeh -Palestinian conflict- The hope 
of peace can no longer be considered 
apart from the issue of church and state 

There was a moment after Mr. Fried- 
man’s rampage that dramatized the real 
demands of peace. The chief of Israel’s 
security service. Ami Ayalon, met the 
Palestinian security chief, Jibnl Ra- 
ioub, in public view in the town square 
of Hebron. They worked out ways.to 
calm the immediate tension. 

It was a momentous symbol of a 
reality that Israelis responsible for se- 
curity have come to understand. 

In the long run, security will not 
work on a unilateral basis. It will come 
from a relationship between the two 
peoples based not on absolutes but on 
the accommodations of politics: a re- 
lationship of mutual respect. 

The New York Times. 


£ 


For Real Change in the Balkans, the Law Must Be Respected 


Hurting the Poor 


The Clinton administration has cre- 
ated a needless problem that could 
make the lough new welfare law even 
worse. Officials are now saying that 
stales may not be able to spend their 
own money to fill gaps created by the 
law. This has alarmed even some of die 
most conservative proponents of wel- 
fare reform. The new law is stringent 
enough without Washington's finding 
new ways to frustrate states that want 
to take proper care of die poor. 

The issue involves a provision 
known as maintenance of effort 

Under the old welfare law, federal 
spending on state-run welfare pro- 
grams was tied to state contributions. 
The new law turns over fixed amounts 
of money, called block grants, that are 
no longer tied to the number of poor 
residents in a state or to what services 
the state decides to provide diem. Re- 
publican sponsors of welfare reform 
were satisfied to let states do pretty 
much as they pleased with block 
grants. But liberals, mostly Democrats, 
fought for and won main ten ance-of- 
effort provisions that require states to 
spend on the poor at least 75 percent of 
the amount they spent under the old 
law. 

The administration is now suggest- 
ing. ominously, that some state pro- 
grams that could be vital to poor people 
may not count toward a state's main- 
tenance -of-effort minimum. Experts 
agree that the law prevenis states from 
getting credit for money they spend on 
nonwelfare programs, or on most of the 
people who are ineligible for federal 
aid. But Congress, wisely, softened 
even these conditions by granting cred- 
it to states that spend money on two 
important groups of ineligible fam- 
ilies. These are families mat collect 
welfare benefits for more than five 
years and legal immigrants, 

However, some states will want to 
spend money on other needy groups 
without triggering all the restrictions 
that accompany the use of federal 
block grants. For example, several 
states want to help elderly retirees who 
have custody of their grandchildren. If 
the states use federal money for these 
purposes, they will be forced to include 
the retirees in work programs and im- 
pose other requirements that apply to 
everyone receiving money through 
federal block grants. There are other 
programs, like emergency counseling 
for families in danger of splitting apart, 
or wage subsidies for low-paid work- 
ers. that states may wish to establish 
without federally mandated time limits 
and other onerous restrictions. 


The answer to this dilemma, some 
states concluded, would be to set up a 
separate program free of federal re- 
strictions that would be financed with 
state, not federal, money. As the states 
interpreted the law, these state funds 
could then be applied toward the main- 
te nance -of effort requirement It is that 
reading that the Clinton administration 
is now questioning. 

How the administration proceeds on 
this tricky question of interpretation 
matters a lot If Washington denies 
credit for money spent on. say, grand- 
parents or wage subsidies, then states 
will be driven to spend money on some 
other, less important program. But 
that would contradict Congress' major 
reason for replacing the 61-year- 
old entitlement with block grants — 
to give states the flexibility to design 
welfare programs that make the best 
sense locally. 

It is good policy to give states the 
leeway to count toward their federally 
specified target the money they spend 
on worthwhile programs for truly 
needy people. The administration can 
point to no specific provision of the 
welfare law that would prohibit the 
states’ interpretation. For a Democrat- 
ic president to hurt the poor with a 
provision pushed into law by liberals to 
protect the poor would be more than 
ironic. It would also be a dismaying 
sequel to die president's election-year 
decision to sign a welfare bill that his 
own staff told him would impoverish a 
million or more children. 

— THE NEW YORK TIMES. 


P ARIS — There are two 
things both distinctive and 
important in the anti-Milosevic 
movement in Serbia The first is 
its tactical inventiveness. The 
second is its lack of political 
coherence. There is a dangerous 
innocence about iL 
That is an odd thing to say 
after the terrible war that Pres- 
ident Slobodan Milosevic — 
and his partner in crime, Pres- 
ident Franjo Tudjman of Croa- 
tia — launched more than five 
years ago, to the applause of 
their fellow Serbs and Croats. 

The innocence of the Serbian 
opposition derives in part from 
its continuing commitment to 
Serbian nationalism. This is 
why it has no coherent program, 
and probably is incapable of 
drafting one. Its leadership in- 
cludes both prophets of a Great- 
er Serbia and liberal democrats. 

President Milosevic has one 
of the largest and best-equipped 
political police forces in Europe. 
Had he ordered the Belgrade 
demonstrations stopped at any 
price, there would have been 
blood in the streets, but probably 
no more demonstrations. 


By William Pfaff 


He did not do so because of 
prudence — he is a cautious as 
well as cunning politician — 
and because of international 
pressures. Had he chosen vi- 
olence, international sanctions 
would have been reimposed and 
Serbia would have been on its 
way back to that Weimar-level 
inflation and misery from which 
it has only recently escaped. 

He has also been outwitted by 
the opposition. The government 
tried to ban demonstrations on 
grounds that they blocked 
traffic. The demonstrators 
marched down the sidewalks. 

New Year’s Eve, die gov- 
ernment refused permission for 
a political demonstration. The 
demonstrators organized a vast 
block party and dance in the city 
center, with bands and enter- 
tainers, and they greeted the 
new year with fireworks. 

On New Year’s Day, nearly 
a quarter of a million Seim 
gathered in die center of Bel- 
grade. ringing alarm clocks to 
say that time is up for Mir. Mi- 
losevic. Then several thousand 


marched through the city mak- 
ing noise to drown out the even- 
ing news broadcast on (con- 
trolled) state television. 

This has been possible be- 
cause of the international com- 
munity’s demand that the Ser- 
bian government respect the 
law — winch is exactly what the 
demonstrators demand: respect 
for the law. They want the gov- 
ernment to reran mid-Novem- 
ber local elections where they 
say the results were rigged — as 
international observers and in- 
vestigators agree. 

An important aspect of the 
Yugoslav crisis, since it began 
five and a half years ago, has 
been the formal legitimacy en- 
joyed by Mr. Milosevic and his 
government He is president of 
his country by virtue of popular 
election. This is an advantage, 
clearly, but also a limit, since 
his legitimacy is contingent on 
tiie continuing constitutionality 
of his government's actions. 

His mandate is tarnished, 
since the ruling party controls 
national television broadcasting 


and the national press, and finds 
more or less legal ways to 
muzzle independent reporting 
and comment The Milosevic 
party’s successes are due in con- 
siderable measure to outrageous 
prop aganda about the war and 
about the .outride world. 

Nonetheless, Mr. Milosevic 
can make a tenable claim to be 
the product of the nation's will. 
When he took the country to 
war in 1991, voters cheered. He 
was re-elected while the war 
continued. Some current oppo- 
sition leaders have been more 
extreme nationalists than he. 

The currently most influen- 
tial of them, Zoran Djmdjic, has 
supported the extremist Serbs 
of the Republika Srpska. Vuk 
Draskovic, writer and opposi- 
tion leader, is a romantic na- 
tionalist On die other hand, die 
opposition leadership includes 
such figures as Vesna Pesic of 
foe Serbian Civil Alliance, who 
simply want Serbia to join 
democratic Europe and follow 
democratic rales. 

Mr. Milosevic has in foe past 
been a brilliant and unprin- 
cipled tactician, outwitting en- 


Has Chinese Intelligence Penetrated the Clinton White House? 


W ASHINGTON — One of 
the unheralded spies of 
foe postwar era was Lanry Wu~ 
tai Chin. As an agent of Chinese 
Communist intelligence, he 
penetrated foe CIA and served 
as Beijing’s “mole” for more 
than two decades. 

After his arrest in 1985, the 
spy — true to his training — 
foiled his captors and protected 
his superiors by using a plastic 
bag to commit suicide in his 
ceU. Spymasters from Langley 
to Yasenovo agreed: Larry Wu- 
tai Chin was one great spy. 

Memories of Larry are 
triggered by an unexamined fa- 
cet of President Bill Clinton's 
Asian money scandal. 

Chinese intelligence opera- 
tions are sophisticated, patient. 


By William Safire 


) lined and underrated by 
a ClA-FBI counterintelligence 
culture still transfixed by Yev- 
geni Primakov’s disciples in 
Moscow. China’s primary in- 
telligence priority is no longer to 
steal military or nuclear secrets, 
as in Larry's day, but is now 
politico-economic espionage. 

You don’t have to be a con- 
nut to recognize that 
not only to learn 
trade secrets, but also to dis- 
cover — perhaps even influence 
— U.S. government trade 

Sat directly Sect tlte 1 ^? bil- 
lion balance-of-trade surplus es- 
sential to the growth of China’s 
military and economic power. 


This might fit that strategy: 

• An Asian financial empire 
named Lippo shares ownership 
of a Hong Kong bank with 
Beijing known to be used by 
Chinese intelligence: 

ethnic Riady, 

climbs aboard foe Clinton 1992 
campaign; 

• The family gives its former 
Hong Kong hank officer a 
$900,000 bonus and places him 
in a top-secret post in foe newly 
elected president's Commerce 
Department, where be is privy 
to foe development of policy 
ending restrictions on trade 
with China; 

• The Lippo banker placed in 


Other Comment Foreign News and a Bored America 


Should Unocal Worry? 

If I were Unocal, the Los Angeles- 
based giant that is a partner in the 
massive, controversial gas pipeline 
project in Burma (officially known as 
Myanmar), I'd be worried sick. 

The Clinton administration, sullied 
by foe sordid picture of a stream of 
exceptionally generous Asian busi- 
nessmen sauntering by the White 
House for little policy chats, may soon 
have to take a high-minded moral 
stand somewhere or other in Asia. 

China is obviously too important to 
mess with, so Burma may just fit foe 
bill. 1 think it’ll be a bumpy road at 
best for any U.S. company still doing 
business there. 

— Tom Plate, commenting in the 
Los Angeles Times. 


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*1996. ivecwtmd Herald Trihuae. AB right named. ISSN: 029L8052. 



W ASHINGTON — Host a 
lot of my professional il- 
lusions, though not all, 30 years 
ago when I came borne from a 
Moscow bureau assignment 
prepared to elaborate at length 
on my knock-'em-dead political 
and diplomatic stories. To my 
surprise I was asked mainly 
about a single throwaway fea- 
ture on bow Russians clear away 
all that snow in the winter. 

Actually, it was a good stray. 
Some lively detail: I had bam 
awakened by foe scratching of a 
babushka's twig broom as she 
cleared her assigned strip of 
public sidewalk 1 1 floors below 
in the quiet before dawn. A little 
pop history. Some nice quotes. 
All foe things whose presence 
makes a story more fun to read 
and whose absence in unavoid- 
ably serious and abstract for- 
eign news stories can repel 
readers by the droves. 

My experience is, nonethe- 
less, that this is the way things 
are. The heck with the new “in- 
teractivity” where readers get 
to pick their own news. Editors 
put a good number of foreign 
and other serious stories into the 
paper not in the expectation that 
they will enjoy a mass read- 
ership but in the conviction that 
good newspapers have a moral 
authority to prejudge what good 
reader-citizens ought to know. 

Also, it was always fair to 
wonder whether the much-her- 
alded information superhighway 
would be more likely than the 
familiar two-lane macadam to 
improve the flow of internation- 
al news, to make the public more 
aware of world problems and, 
consequently, to contribute to 
their solution. This is the ques- 
tion formulated by Claude 
Moisy. a French journalist and 


By Stephen S. Rosenfeld 


news executive (Agence France- 
Presse), in a study of American 
media for Harvard’s Staoren- 
stein Center for Press, Politics 
and Public Policy. 

His question is old-fash- 
ioned, rational and optimistic in 
its premise that technology 
should be at the service of en- 
lightenment His answer is pes- 
simistic: “A potentially greater 
supply of international news is 
being met in foe United States 
by a reduced demand.” 

The international wire ser- 
vices and a small number of 
American networks, news- 
papers and news magazines 
have used the new technology 
— computers and satellites — 
to produce more foreign news 
than ever. CNN even boasted of 
inaugurating something called 
“global live coverage oy tak- 
ing the part assigned it by a 
media-sawy Saddam Hussein 
in the Gulf War of 1990-91. 

But the television networks 
are doing less with foreign 
news, as everyone knows. And 
the public for foreign news in 
print, though steady,' is small. 

CNN matches foe chosen 
American papers and mag- 
azines in capacity to do 20 or so 
foreign stones at a pop, though 
it comes nowhere near match- 
ing the capacity of tire three big 
international news wires. We 
print people go green when 
CNN puts on a live war or a 
hijacking, but we click off in 
foe long in-betweens. 

Mr. Moisy ’s own hopes seem 
to me realistically modest: 
“that quality print journalism 
will keep a niche as a channel of 
information for a minority of 


attentive consumers, those most 
likely to keep up the demand for 
a sustained, thoughtful cover- 
age of foe outside world” 

Mr. Moisy finds that televi- 
sion fosters a more emotional 
popular reaction to events. He 
believes it has already produced 
“well-known consequences” 
fra American foreign policy. 
Public intolerance for casualties 
forced a premature withdrawal 
from Lebanon in 1983 and a halt 
short of total victory in Iraq in 
1991, be thinks, white in 
Somalia, “popular emotions 
whipped up by television pic- 
tures ’ pressured Washington in- 
to contradictory and dubious de- 
cisions, first to go in to feed foe 
refugees, and then to leave when 
a mob dishonored the body of a 
dead U.S. Army Ranger. 

Does it matter, he asks, if me- 
dia and public become less in- 
terested m international affairs? 
Mr. Moisy tries on a populist 
perspective and observes that a 
declining demand for interna- 
tional news could leave an un- 
informed public pressing leaders 
into inappropriate decisions. He 
appears to lean, nonetheless, to 
an didst or establishment per- 
spective foat would exclude foe 
public from a foreign-policy de- 
bate with public officials but 
would include journalists and 
“educated readers.’’ 

“Whether one likes it or not,” 
he concludes, there exists for 
foreign policy a “leadership 
class” eventually leading “or 
mis l eading," the people. 

Still, "turning point” choices 
do arise in foe life of a rmrin^ 
Then, the public demands to be 


Commerce continues frequent 
local and international tele- 
phone conlarawifo his previous 
employers; 

• On Sept. 13, 1995, James 
Riady and his Beijing-traveling 
lawyer (a founder of Little 
Rock’s Rose Law Finn) agree 
with the president himself, in 
foe Oval Office, to reassign foe 
family's man from Commerce 
to the job of chief Asian fund- 
raiser for the 1996 Clinton cam- 
paign; 

• The Grinese-American 
banker channels in milli ons, 
and only newspaper exposure 
of fllegal fronts fra huge dona- 
tions forces a reluctant Justice 
Department to investigate and a 
triumphant campaign to return 
some of the money. 

Other strands: A Chinese- 
American restaurateur in little 
Rock who travels frequently 
to Beijing raises more than 
$600,000 in money from fronts 
far foe Clintons’ legal defense, ■ 
and is then able to bring Wang 
Jun, the most notorious Beijing 
arms dealer, inside the White 
House to meet the president for 
a reason as yet urasxplained. 
Meanwhile, another illicit con- 
tributor from Asia is given sub- 
stantial presidential face time to 
deliver her pitch for trade pref- 
erences for China. 

Is this a pattern of aggressive 
fund-raising, corrupt influence 
peddling — or part of an in- 
telligence operation? 

The possibility of economic 
intelligence penetration is 
beyond the depth of Mark 


Richard, now trying to contain 
the investigation within. Clinton 
Justice. Another person who 
should be on this job is Paul 
Redmond, the CIA’s counter- 
intelligence chief. 

Mr. Redmond got foe 
Angleton mole-hunting chair at 
Langley because he developed a 
distal fra Aldrich Ames before 
it was popular. But because Mr.. 
Redmond’s central experience 
was with the Soviet East Euro-, 
pean division, his mind is not set, 
Asiawazd, and he is in danger of 
becoming what David Cornwell 
calls an "espiocraL” His bosses 
are loath to unearth Clinton em-, 
banassments, especially if foe 
White House’s Tony Lake is to 
be their new director. 

But House and Senate intel- 
ligence committees should be- 
asking: Have any of our assets in 
Asia been tasted to learn of, 
penetrations of the Clinton ad- 
ministration? Has the National 
Security Agency been “walking- 
back the cat” — putting its com- 
puter to work on nulesctf stored, 
tapes, tracing overseas tele-, 
phone or e-mail conversations, 
of White House, Commerce,- 
DNC and Ex-hn Bank aides and 
Arkasian middlemen with for- 
eign officials or cutouts? 

Such evidence could not be. 
used in court. But on nai jp pal 
security matteis. as Larry Wu- 
tai Chin’s macabre victory* 
taught us, it is sometimes mare, 
important to learn the extent of 
foe damage than to put possible 
agents in jail. 

The New York Times. 


IN OUR PAGES: 100. 75 AND 50 YEARS AGO 


ity of international news that 
the mass media cany do matter. 

The WxshtngUH! Post. 



1897s Plague Prayers 

BOMBAY — The Mohamme- 
dan inhabitants of the city 
protest strongly against the 
policy of segregation being pur- 
sued by tiie health authorities. 
They are great believers in foe 
efficacy of prayer, and this was 
proved by one of the Largest 
prayer-meetings ever held in In- 
dia, on the ground so well- 
known in connection with the 
International cricket matches. A 
crowd of devout Mussulmans 
spent several hours, with faces 
turned towards Mecca, beseech- 
ing foe intervention of Allah to 
stay the ravages of foe plague. 

1922: A Pastor Relents 

NEW YORK — An unprece- 
dented step in the effort to com- 
bat the Church’s hostility to tiie 
theatre was taken by foe Rev. 
Harry MSDer, pastor of Brook- 
lyn’s leading Methodist Epis- 
copal Qiurcii, when be declared 


to his congregation that the ban< 
on the theatre was obsolete and 
that it misrepresented the spirit 
of modem Methodism: The Rev.- 
Mr. Miller was preceded in the, 
pulpit by a well-known actor,- 
who spoke on ‘clean plays' ancl) 
who opened his address saying 
that foe majority of actors and 
actresses are decent members o£ 
the community, and that the 
stage induces many men and' 
wraneni 


1947: Palestine Patrol ' 

JERUSALEM — Palestine: 
went. on war footing today 
flan. 4] with pairs of British, 
soldiers carrying tommy-guns 
patrolling all streets and 6th 
Airbometroopers moving mto 
two Tel Aviv,, slnm tone-* 
meat areas to search and screen' 
all male inhabitants. Reports!' 
said a quantity .of arms and, 
amm un i t ion and one whip of. 
the type used to flog British 

soldiers had been discovered. ■ 


emies while not really knowing 
where he would end. Going to 
war gave him power over Ser-. 
bia. Stopping the war ended 
sanctions, gave him support, 
from the West and got ad of 
rivals. But in the course of all. 
this he was leading the country, 
to ruin — as some army officers 
now publicly acknowledge. 
The Orthodox Church, until 
now committed to the pan-Ser- 
bian cause, is abandoning him. 

The key to change is the de-; 
mand that the rule of law be 
respected. 

The opposition is not calling 
fra revolution, but for die rule 
of law. 

Mr. Milosevic would be in an 
easier situation if the opposition; r 
demanded his violent overthrow . 1 
It is harder to resist the demand, 
to respect the law. Thai is die key ■ 
to lasting change, not rally in 
Serbia but in Croatia and Bosnia. 

It would have been a help if- 
NATO’s intervention force had 
done more to defend foe law 
in Bosnia. Its successor force 
might try harder. 

/luematuNtal Herald Tribune. 

© Las Angeles Times Syndicate. 




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The Numbers Look Bad for Gingrich 




:>b. 


• : :;.i r ‘ 


By Adam Clymer 

New York Tang Servic e 

WASHINGTON — Newt 
Gingrich’s re-election as 
i weaker of the House is under 
threat, at least for the mo- 
ment, as the number of Re- 
publicans unwilling to com- 
mit themselves to him -has 
reached 27. 

The simple arithmetic is 
that 20 defecticms could cost 
the Republican his job as 
speaker cm Tuesday. His 
backers in the leadership have 
been working to rally the rank 
and file, and eabn potential 
deserters,' by minimisin g the 
importance of the ethics vi- 
olations he has admitted . 

Hie speaker was making 
telephone calls from his home 
in Georgia. Other top Repub- 


- licans scheduled a nationwide 
conference call for their 
members Friday to explain 
the case and said Mr. Gin- 


Bur James Cole, special 
counsel to the committee, 
flatly denied the report. In the 

. . . „ J , _ — firet public statement he has 

gnen would address a Repub- made since taking on the job 
lican caucus on Monriav nearly a year ago, Mr. Cole 




to 


caucus on Monday 

night 

The Republican leadership 
also kept up the pressure on 
their troops by -assuring them 
that an ethics subcommittee 
had already decided that Mr. 
Gingrich’s offenses, which 
involve tax-exempt funds 
used for partisan purposes 
and giving the committee in- 
accurate infor mation, merited 
only a reprimand, not die 
more severe penalty of era- 
sure. 

Under party rules, a cen- 
sure would dray him any sort 
of leadership position in Con- 


said; “There have been recent 
statements and press reports 
amceruing the work of the 
investigative subco mmittee 
, and any recommendation it 
might make. Those state- 
ments and repeals me not ac- 
curate.” 

He also said committee 
roles barred him from com- 
menting publicly, and ap- 
pealed to lawmakers and the 
public to “let the ethics com- 
mittee's process go forward 
in an orderly fashion.” 

No one expects all 27 of the 
doubters, who have made 
their reservations known in 


.fjfi. /*-: ■. 





SINGAPORE : Still a Sense of Fragility 

Continued from Page 1 


Kts 


pected 


fundamentally fragile stale 
because it is small, multieth- 
nic and almost totally fariting 
in natural resources. Even 
most of die island's fresh wa- 
ter has to be piped in from 
neighboring Malaysia. 

“We operate on a knife 
edge,” said Lee Hsien 
Loong, deputy prime minis- 
ter. “If we kse our compet- 
itiveness, of fail to maintain 
racial hannony, or lower stan- 
dards of government, we are 


provide the opportunity for 
Singaporeans to evict a gov- 
erning party if they feel it is 
nor serving their interests. 

Mr. Lee has. also wondered 
aloud whether younger Sin- 
gaporeans softened by afflu- 
ence and retirees who might 
seek greater benefits might be 
attracted to tire populist wel- 
fare policies offered by op- 
position parties. 

While the governing party 
has not tampered with the 
one -person, one-vote system, 
has introduced an elected 


_ it 

finished, permanently. Stnga- president for a term of six 
pore is either outstanding nr it years who is empowered to 
., u .-. — »» protect tiie country’s finan- 

cial reserves and veto gov- 
ernment budgets and appoint- 
ments to public office. 

To compensate for the ab- 
sence of probing and dissent- 
ing voices in PBriiament. die 
government has in recent years 
agreed to no minate six Singa- 
poreans with “independent 
and nonpartisan views” for 
two-year trams to take part in 
padxamentaiy debate. 

Where less than three op- 
position lawmakers are elect- 
ed to Parliament, some mem- 
bras from a political party or 


is nothing 
To concentrate on making 
Singapore economically and 
technologically successful, 
its rulers seek to marimrae 
political cooperation and 
minimize contention. 

Stability and a predictable 
pro-business policy, they ar- 
gue. are essential for contin- 
ued investment and growth. 

Mr. Lee and some other 
government leaders have ex- 
Q pressed reservations in the 
past about giving all adults 
equal voting rights, which, in 
i with the sea 


tandem 


i the secret ballot. 


parties not forming the gov- 
ernment can also take part in 
parliamentary debate. 

ChiaShi Teck, a business- 
man who failed to win a seat 
as an independent in die elec- 
tions Thursday, said that 
through such arrangements 
die governing party was ba- 
sically telling Singaporeans 
that “if you want opposing 
voices in Parliament, OJC. 
we will give you opposing 
voices, but please continue to 
vote for the PAP.” 

The government also does 
not hesitate to use hardball 
tactics for political purposes. 

Prime Minister Go b Qtok 
Tong Senior Minister Lee 
and six other governing party 
members said during the elec- 
tions that they would sue an 
opposition member for de- 
famation. 

Mr. Gob said that the case 
would be a “very expensive 
court battle” for the oppo- 
sition member as the repu- 
tation of two senior leaders of 
Sin gapore / one minister and 
five present or former law- 
makers did not come cheap. 

Throughout the campaign, 
Mt. Goh and his party warned 
voters, more than 85 percent 
of whom live in high-rise 


interviews or statements, 
defect Tuesday. 

Some others who ex- 
pressed reservations a few 
days ago. like PhD English of 
Pennsylvania and Thomas 
Davis of Virginia, have 
already rejoined the fold. 

Others who have described 
themselves as uncommitted 
sound as' though they will 
vote far him nevertheless. For 
example. Sue Kelly of New 
York said she was uncom- 
mitted but added that her 
reading of the subcommit- 
tee’s report made it clear thar 
Mr. Gingrich “didn’t know- 
ingly lie to the committee.” 

She described the speaker as 
“innocent until proven 
guilty,” but said, “1 don’t 
have all the facts.” 

Another undecided repre- 
sentative, Marge Roukema of 
New Jersey, sounded as if she 
were leaning against voting 
for Mr. Gingrich next Tues- 
day but wanted to wait until 
the foil ethics committee re- 
commended a punishment. 

' But now, with the committee 
scheduled to act after the vote 

fra speaker, that ruling may The opposition leaders Vuk Draskovic, right, and Zoran Djindjic conferring Friday at a protest in Belgrade, 
not come until Jan. 21. 

options.” she said, ‘ ‘whether. BELGRADE: Milosevic Makes Partial Concession on Election 

in the absence of the report, 

elusions of the Gonzalez mission and 
urged the Serbian government to recog- 
nize all contested Opposition victories. 

The election results in Belgrade and 
13 other Serbian cities were overturned 
by the government-controlled court sys- 
tem following a series of Socialist Party 
complaints about alleged “irregularit- 
ies" in the voting. 

The tone of the Milutinovic letter sug- 
gested that Mr. Milosevic is seeking to 
win time and wear down his opponents 
through a lengthy appeals process. 

While insisting that (he Belgrade gov- 
ernment was anxious to cooperate with 
the security organization, the foreign 
minister insisted that all complaints 
about the conduct of the elections must 
be channelled through the Serbian courts 
and political system. 

Another opposition leader. Vesna 
Pesic, told a rally Friday in Belgrade: 

‘ ‘They say they want more time to con- 
sider our complaints. But they have 
already bad 45 days, during which time 
we have been freezing on the streets. 


we vote on Tuesday or are 
able to establish a speaker pro 
tem for a definitive short peri- 
od of time. That would be the 
best thing for the party, the 
people and the country. Jt’s 
important in establishing 
credibility with the public.” 
There may be other poten- 
tial defectors. The total of 27 
does not include Matt Salmon 
of Arizona, who said he bad 
“reservations” about voting 
for Mr. Gingrich. He said that 
“for the good of the coun- 
try,” both Mr. Gingrich and 
President Bill Clinton should 
resign. Short of that unlikely 
event, he said, “It may be 
pradent for the speaker to step 
aside at least temporarily.” 
So far, Michael Forbes of 
New York is the rally Repub- 
lican representative to have 
said outright that be would not 
vote for Mr. Gingrich. 


Continued from Page 1 

elections would increase Serbia’s isola- 
tion, Reuters reported from Washington. 

[The State Department spokesman, 
Nicholas Bums, who outlined the U.S. 
view, said these points were contained in 
a “very tough” message from Secretary 
of State Warren Christopher to President 
Milosevic.] 

The Serbian government’s response 
came in the form of a letter from Foreign 
Minister Milan Milutinovic to the Dan- 
ish foreign minister. Niels Peterson, who 
is acting chairman of foe security or- 
ganization. 

- It said the government conceded that 
the opposition coalition had won the 
election in three provincial towns and 
“nine municipalities in Belgrade.” but 
contested the other conclusions of a fact- 
finding mission for the security orga- 
nization led by foe former Spanish prime 
minister, Felipe Gonzalez. 

At its meeting Friday, the security or- 
ganization formally endorsed the con- 




How much more time do they need?” 
The Serbian government's room for 
maneuver has been slightly increased by 
an error in Mr. Gonzalez's initial report 
last week on the results of his mission to 
Belgrade. In foe report, he said that the 
opposition had won “nine municipal- 
ities in Belgrade,” and omitted any men- 
tion of the all-important city assembly, 
which elects foe mayor. On Friday, 
Spanish officials told the security group- 
ing that what Mr. Gonzalez meant to say 
was ‘ 'eight Belgrade municipalities plus 
the city assembly.” 

By repeating Mr. Gonzalez's original 
formula, foe Serb-led Yugoslav govern- 
ment is attempting to show that it is 
canying out foie security organization's 
recommendation on Belgrade without 
giving up the city assembly. 

A spokeswoman for the Organization 
for Security and Cooperation in Europe, 
Melissa Fleming, rejected this interpret- 
ation of the Gonzalez statement, and said 
that it was up to the Yugoslav gov- 
ernment to “make the next move." 


NIXON: He Wanted Pliant IRS sided with the opposition they ARMENIA: At Last at Peace, Former Soviet Republic Drifts Toward Dictatorship 

would be the last in foe queue 1 


hit * 1 Hoik? 


Continued from Page 1 

said, referring to a presiden- 
tial counselor. Robert Finch, 
foe longtime friend and ad- 
viser of Mr. Nixon’s who had 
managed, his unsuccessful . . 

1960> presidential campaign- today/ atJieSing; the Ji®, de- 
John F. Kennedy, scribed, as it often is, as “the 
went after Finch.” Dean list.” The list was ac- 
iow,” Mr. Nixon tually drawn up by Murray 
vowed, “they’re not going to " Chotiner, a veteran Nixon op- 
J ~ u •- — 1 ” Vx7U -* *“ erative. Mr. Ehriicfaman gave 


“I was so shocked,” Mr. 
Walters said. “During foe 
Kennedy years, things were 
done that shouldn't have been 
done. But this would have 
ruined the entire tax system.” 
Mr. Dean winces/ . even 


do it to us here.” What be 
wanted to know was “when 
the Christ are they going to go 
after some Democrats?” 

Mr. Haldranan said he saw 
nothing wrong with that. “It 
isn’t a matter of doing any- 
thing against the law." he is 
beard saying on foe tape. 


it to Mr. Dean with instruc- 
tions to “have IRS audits 
conducted on these people.” 
Mr. Dean, the designated 
White House point man with 
foe IRS, said in an interview 
that he knew Mr. Walters 
would not do it, but he went 


“It’s a matterof using the law through with foe drill as 
to its full — to our benefit ordered. 




rather than someone else’s.” 

“That’s it.” Mr. Nixon 
agreed/- “We want a lawyer in 
there who will tell us how to 
do things and not that we 
can’t do things." 

Mr. Walters, a Republican 
from South Carolina, was 
nominated as IRS commis- 
sioner foe next month add 
confirmed a few weeks later, 
but he never did what Mr. 
Nixon wanted. Mr. Walters 
said in an interview this week 
that he did not even know 
what was expected of him un- 
til foe White House counsel,' 
John Dean, summoned him to 
a meeting on Sept. 11. 1972, 
and handed him the famous 
“enemies list” of hundreds 
of people the White House 
wanted the IRS to investi- 
gate. 


to benefit from a government- 
financed program to upgrade 
older bousing. 

In a front page editorial on 
Friday, Singapore's Business 
Times said that more than 
anything else, the election re- 
rsuht ‘ ‘demonstrates .that' the. 
Singaporean is. first and fore- 
most, a practical creature who 
not only knows on which side 
his bread is buttered but also 
wants his bread to be buttered 
generously.” 

J.B. Jeyaretnara, the vet- 
eran leader of the opposition 
Workers’ Party who failed to 
win a seat in foe elections, 
said that voters had suc- 
cumbed to heavy-handed 
threats. ' 

“Singaporeans think they 
just can’t afford to take any 
risks,” be said. “There’s still 
a climate of fear.” 


Mr. Walters recalls Mr. 

Dean telling him: “The man I 
work for doesn’t like some- 
body to say no.” 

Mr. Walters was deter- 
mined to do just that. With the 
backing of- then-Treasury 
Secretary George Shultz, he 
put the list in a sealed en- 
velope and kept it in a safe - kind of unfettered business 
until foe following year, when: practices that Britain has 

rioned 


Continued from Page 1 

that Armenians say set it apart 
from its neighbors, the coun- 
try today is fighting simply to 
keep a grasp on the sense of 
solidarity it once held dear. 
~^Not ' everyone cares,' of 
course: Working people want 
food on their table, and this 
year, for foe first rime in re- 
cent memory, most Armeni- 
ans are able to buy iL But 
politically and emotionally, a 
country that had been remark- 
ably unified is now split. 

Leading opposition mem- 
bers of Parliament usually do 
not even bother to attend ses- 
sions. Opposition politicians 
and members of the press were 
beaten and jailed after the dis- 
puted elections dial Mr. Tra- 
Petrosyan won by a few per- 
centage points — and the man 


EUROPE : Goldsmith’s Return 


Continued from Page 1 


[foe following year, 
he turned it over to congress-' 
siortal investigators. 

Mr. Nixon was informed of 
their recalcitrance at an Oval 
Office meeting on SepL 15. 
1972. In testimony at the 
1974 House impeachment 
hearings. Mr. Dean recalled 
foe president declaring an- 
ly: “If Shultz thinks he’s 
i put over there to be some 
sort of candy ass, he is mis- 
taken.” 


v\ 






BOMBS: Ape 

Continued from Page 1 

which includes Mohammed 
Salameh. who was linked to 
Sheikh Abdel Rahman and 
was convicted in connection 
with the. 1993 World Trade 

Center bombing that killed six 
people in New York City. 

The bombs sent to Leaven- 
worth were disguised as hol- 
iday greeting cards and ad- 
dressed to the prison parole 
office. (AP. Reuters, AFP) 

■ Seeking a Motive 

John La ncas ter of The 
Washington Post reported 
from Cairo: 

The mailing of letter bombs 
to the Washington office of A1 
Hava has baffled reporters 
and editors at foe newspaper, 
as well as. 'many readers fa- 
miliar with its reputation for 
balanced, even sympathetic 
coverage of Islamic extrem- 
ism in foe Middle East. 

After foe discovery of the 
five bombs, investigators 
hinted at a posable connec- 
tion to militants who 

have carried out terrorist op- 
erations in Egypt, Saudi Ar- 
abia and ekewhere. 

. But to journalists at the pa- 
per, and to others, familiar 


since Margaret 


The party has drawn de- 
rision from die British press 
because of types of people 
who have flocked to its stan- 
dard: the Mayfair gambling 
club cronies, aging socialites. 
Battle of Britain plots, co- 
lonial service officers, old 
school tie chums and Tories 
inconsolable over foe depar- 
ture of Mrs. Thatcher. Sir 
James cheerfully calls them 
his “rabble army.” 

The image of the party as a 


J T »y/Ti J ine image oi me party as a 

ranajau largexea bunch of dotty eccentrics in- 
° teosafied in October with die 

with its work, foe theory that coverage of its convention in 
Islamic militan ts were behind 
the bombing of its Washing- 
ton office is missing one ele- 
ment: a motive. 

Despite its ownership by 
Prince Kbaled ibn Sultan, A1 
Hayar gives prominent cov- 
erage to the views of Islamic 
militants such as Sheikh Ab- 
del Rahman. . 

The paper gave prominent 
play to accusations by relatives 
arid Jordanian officials that the 
four 'defendants in foe World 
Tkade Center case, including 
Mr. Salameh, had not received 
a fair trial because of miscon- 
duct by prosecutore and an in- 
competent defense lawyer. 

Similarly, despite foe close 
friendship between foe pa- 
per's editor. Jihad Khazen, 
and President Mubarak, AJ 
flayat drives Egyptian offi- 
cials to distraction _ by pub- 
lishing interviews with exiled 

S okesmen for the Isjanuc 
roup and Islamic Jihad, 

which advocate foe violent 
overthrow of Mr. Mubarak s 
secular regime. . 

“We haven t picked a fight 
with anyone,’ said Mr. 

Khazen. “I honestly don t 
lmow what could have 
triggered this.” 


Brighton. The 
with die 4.000 
watching a video that tele- 
scoped anti-European senti- 
ments down into blinkered re- 
pugnance of Germany. 

The ridicule of foe press 
has not lessened the con- 
sternation in foe already 
anxious campaign offices of 
the Conservative Party. Cal- 
culations reveal that even a 
modest showing for foe party 
could tip the election to Labor . 
is 25 to 30 districts. Labor is 
already running more than 20 
points ahead of foe Tories in 
polls for foe election, which 
must occur by May. 

Go aded by the Referen- 
dum Party’s entry into foe 
race, both major parties have 
declared that they will hold 
referendums of their own on 
any commitment to foe next 
phase of European Union, foe 
adoption of a single currency, 
scheduled for 1999. 

But Sir James was not so 
easily bought .oil. “Hie 

g rfiticiaos seek to Waff the 
ritish people into thinking 
foal they have been offered a 

real referendum,’* he told 
businessmen - in v BristoL 
“This was no more than a 


political maneuver which 
does not address foe funda- 
mental issues and is wholly 
unsatisfactory.” 

What cannot be measured 
is what proportion of foe 
many Tory voters who ques- 
tion integration wfl] vote Ref- 
erendum rather than Conser- 
vative. Many Tory candidates 
have said they plan to conduct 
their personal campaigns on a 
more “EnroskepticaT ’ stance 
than that of their leader. 
Prime Minister John Major. 

Sir James, a sleek 6 foot 3 
(190 centimeters) with a rest- 
less energy that associates 
have testified is almost en- 
trancingly infectious, is a 
compelling leader. Nothing, 
he has said, rouses him like 
high-risk ventures. In 1979 he 
turned his back on Britain, 
then under a Labor govern- 
ment, and in 1990 he got out 
of business altogether. So 
why has he come rack? 

“It was more painful to 
watch foe accident happen 
than to try to stop it,” was his 
response at a gathering in 
BristoL Over a seven-month 
period he declined repeatedly 
to discuss his reasons with 
The New York Times. 

“He’s a bored millionaire 
who is seeking power without 
responsibility,” said David 
Mellor. a Conservative mem- 
ber of Parliament from sub- 
urban London, whom Sir 
James is running against. 

Sir James began in phar- 
maceuticals in France, then 
moved to fcxrd manufactimng 
and retailing in Britain and 
then succeeded as a corporate 
raider in foe United States. In 
1990 he retired. 

In 1993 his treatise against 
European political union 
called “Le Piege” (“The 
TVap”) became a best-seller. 
He won a French seat in the 
European Parliament in 
Strasbourg — he has French 
citizenship, having been bom 
in Paris to a French mother. 


he narrowly defeated, former 
Prime Minister Vazgen Man- 
oukian. has only recently 
emerged from hiding. 

Armenia may be more 
open and accessible than 
Azerbaijan, the oil-producing 
neighbor that Armenia has 
been fighting since the Soviet 
Union started to crumble. But 
people here do not want to be 
compared with their neigh- 
bors. They want to be com- 
pared with the West. 

Armen Sarkisyan, the new 
prime minister, who openly 
and with regret acknowledges 
the frailty of his country’s 
democracy, said in an inter- 
view, “We must now move 
back from foe precipice.” 

“Somebody has to speak 
to the opposition rather than 
blaming them for everything 
that is wrong with Armenia,” 
Mr. Sarkisyan added- 

“ Somebody has to say that 
the press is truly free and then 
stand by to guarantee it Some- 
body has to convince our enor- 
mous diaspora that they are 
welcome and needed here, not 
just once for a visit but as often 
as they can come. Somebody 
has to make it clear that we will 
not just tolerate dissent, we will 
welcome iL” 

These are noble words, and 
by all accounts he means 
them. 

But only one man rules Ar- 
menia, and while he insists in 
rhes and statements that 
locracy is sacred to him. 


Mr. Ter-Pefrosyan does not 
act as if it is. 

The president’s turn away 
from democracy began in 
1 994. when he banned a ma- 
jor opposition party and im- 
posed restrictions on the 
press. 

Even now, with many of 
those restrictions lifted, there 
is a combined daily press run 
of only 31,000 copies for all 
newspapers in the country, 
which has a population of 3.5 
million. 

Despite foe large and in- 
fluential Armenian diaspora 
in foe United Slates. Mr. Ter- 
Petrotyan has not given an 
interview to a Western report- 
er for at least two years — 
because, said Gerard Ubar- 
idian, bis senior adviser, 
“They only use a short quote 
and they take him out of con- 
texL” 

(Mr. Ter-Pelrosyan ini- 
tially agreed to be inter- 
viewed for this article. He 
then said through an aide that 
he was too busy.) 

“The situation in our coun- 
try has become better," said 
Nagor Avedikian, editor of 
the independent daily paper 
Azg, which means The Na- 
tion. “The economy is not as 
desperate as it once was. 
There is no war. But as that 
has happened, our president 
has become more remote and 
autocratic. The truth is that he 
is a democrat only in foe most 
Platonic sense.” 


For more than six years Ar- 
menia has been unofficially at 
war with Azerbaijan over foe 
ethnic Armenian mountain 
enclave of Nagorno-Kara- 
bakh. which is in Azerbaijan. 
Azerbaijan is much bigger, 
far richer and backed by its 
Muslim ally. Turkey. Yet foe 
tenacious Armenians won in 
a rout 

While a fragile peace 
holds, the political questions 
have never been settled, and 
most countries officially op- 
pose Armenia’s position. 

“Many countries think we 
are being unreasonable about 
Karabakh,” said Mr. Libar- 
idian, who has taken an en- 
ergetic lead in trying to ne- 
gotiate a settlement. 

“But I would rather have a 
problem of perception, and 
even of being isolated, than 
the problem of 1915. We had 
one genocide in this century. 
It was enough for us. It w’dl 
never happen again.” 

He was referring to the 
event that still defines the na- 
tion: In 1915 vast numbers of 
Armenians, perhaps more 
than a million, died at the 
hands of the Ottoman Turks, 
through forced resettlement, 
starvation and massacres. 

It is foe fundamental fact of 
modem Armenia and it still 
governs the people's complex 
political arid psychological 
world views. 

Many are defensive, com- 
bative and convinced that foe 


moment they relax they will 
again be annihilated. 

Today, Turkey and 
Azerbaijan have imposed a 
total import blockade on Ar- 
menia. Thai (eaves Iran and 
Georgia as neighboring trad- 
ing partners. 

Iran is an ally, but not an 
ideal one. Its economy is not 
very strong and any relation- 
ship with Iran angera Ar- 
menia's most powerful pat- 
ron, the United States. 

Not that any of that matters 
to average people. Many are 
beginning to have what they 
care about: food, energy 
(after the recent reopening of 
a nuclear power station that 
sits on a geological fault line) 
and the sense that maybe their 
children won’t die in a war for 
their survival. 

“I don't really care what 
the president does." said 
Annina Nagosian, 28, a sales- 
woman in foe Samsung elec- 
tronics store in downtown 
Yerevan. 

‘ ‘Look at this place. People 
are buying things they never 
even thought they would see 
in this country.” 

All around her, men and 
women were choosing among 
color televisions, micro- 
waves and fancy new vacuum 
cleaners. 

“This store didn’t even 
have electricity until a few 
months ago.” she said. “And 
that is what people care about. 
Not who sits in Parliament.” 


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INTERNATIONAL HERALD TRIBUNE 
SATURDAY-SlMDAY, JANUARY 4-5, 1997 
PAGE 8 


Monument to Taste: Homage to the ‘Unknown Collector 


a 


Inter national Herald Tribune 

N EW YORK — Did 
collectors see an 
with a sharper eye 
three or four gen- 
erations ago than we do 
today? As one turns over the 
pages of “Master Drawings 
Rediscovered," the book just 
published by Harry N. Ab- 
rams to accompany an exhib- 
ition of * ‘Treasures From Pre- 
war German Collections' * 
held at the Hermitage, one 
keeps wondering. 

The question might never 
have been asked were it not 
for this strange an cache 
opened at the initiative of the 
Russian minister of culture, 
Yevgeni Sidorov, and the re- 
markable Hermitage Mu- 
seum director, Mikhail Pio- 
trovsky. Their idea was to 
bring to world attention the 
privately owned drawings 
looted by Soviet troops as 
they occupied Germany in 
1945. before negotiations be- 
gin to determine tbeir fate. 

Major works ranging from 
a landscape of extraordinary 
modernity done in 1866 by 
Jean-Francois Millet to some 
of the most beautiful water- 
color portraits in existence by 
Emil Nolde are thus re- 
vealed. 

Opening with 35 drawings 
by Goya known only from 
photographs taken 90 years 
ago, the volume has a visual 
impact and surprise effect 
matched by few — the 89 
drawings which remained out 
of sight since the early 1920s 
are unrecorded for some and 


virtually unknown to all but a 
few Soviet officials for the 
rest 

But what makes this 
volume different from others 
on little known works of art 
such as the companion book 
on Impressionist and 20th- 
century paintings “Hidden 
Treasures Revealed," is that 
this one offers more than just 
an art trove. It preserves the 
perception of an earlier age. 

This first comes out in the 
astonishing rapprochement 
made between Goya and 
Daumier by a passionate col- 
lector called Otto Gersten- 
berg. A financier and insur- 
ance wizard by profession, 
Gerstenberg was bom in 
1848, as revolutions swept 
across Europe, and died in 
1935. when a very different 
tide of fury called Nazism 
was engulfing Germany. 
Graced with one of the bold- 
est eyes in his time, the fin- 
ancier also had closely 
defined tastes. 

He started by collecting 
Durer, Schon-gauer, Lucas 
van Leyden and other late 
15th and early 16th century 
North European artists. Then 
came Rembrandt and Van 
Dyck, followed by Japanese 
woodcuts and contemporary 
art from Adolph von Menzel 
in Germany to Henri de 
Toulouse-Lautrec in France. 

In all of Gerstenberg's 
choices, a common denom- 
inator can be detected — the 
scrutiny of his fellow hu- 
mans' attitudes. In so doing, 
he brought out analogies that 


few of us would think of sug- 
gesting between two of the 
masters be loved the most, 
Goya and Daumier. The col- 
lector did not do it in words, 
but with his eye and the sheets 
it compelled him to buy. Of 
the 35 Goya drawings in the 
book, most are figures, single 
or coupled, which build up a 
gallery of studies in bodily 
and facial expressiveness. 

A farmer in tattered clothes 
bends beck as he pulls a rope, 

ToURENmLmAN^ 

his eyebrows knitted and his 
apish lips pressed in the ef- 
fort A Moroccan in burnoose 
sways as he lets a lizard-like 
creature crawl on his arm. A 
“living skeleton," as they 
were called in French fairs 
when Goya lived a refugee's 
life in Bordeaux, shows in- 
deed a man so frail that he 
seems about to collapse. The 
legs reduced to the outlines of 
bones, the distorted cbest the 
huge sunken eyes in the ema- 
ciated face make the man look 
like some ghastly apparition 
from a 20th-century concen- 
tration camp. Most striking, 
perhaps, is the shadowy fig- 
ure of a woman holding a 
swaddled baby who looks 
more like a glowering old hag 
than a loving mother. 

With the 35 Goyas comes a 
group of Daumiers which 
could have been conceived to 
match them. In the “Malade 
Imaginaire,” a stricken man 
slouches in his armchair, head 
thrown back, eyes rolling. 


hands clutching the padded 
arms while a man stands by 
with die same horrified ex- 
pression. Gerstenberg appar- 
ently found this kind of body 
language irresistible. 

In “L'amateur de mu- 
sique" a man is seated in 
much the same way but with 
one leg crossed over the oth- 
er. His features are distorted 
by a Goya-like grimace 
which pulls down die ex- 
tremities of the mouth and 
sends his eyebrows flying 
off. 

In “Le Plaidoyer," a bar- 
rister throws his chest bade 
and spreads his bands out in a 
physical effort at eloquence. 
Again, this is a study in body 
language. Behind him snarl- 
ing heads can be seen over a 
low parapet. Yet it all looks 
tame by comparison with 
“La Parade" and its three 
shrieking characters gestic- 
ulating as snarling feces pop 
out of the darkness behind 
them. Thus were the aesthet- 
ics of Expressionism sought 
out by a German collector 
years before the school of 
that nam e came into being. 

An even more unexpected 
parallel is suggested by the 
selection of Tho mas Row- 
landson’s watercolors in the 
18th-century artist's finest 
comic strip style and of Ad- 
olph von Menzel's drawings 
that made the 19th century 
German artist such a master 
of psychological portraiture. 

The collector who made it 
remains a mystery figure. 
Hermitage documents merely 


give a name, Helene Bech- 
$tein of Berlin. Apart from the 
initials H.B. on the frames 
and on some passe-partouts, 
no other mention has been 
found of her. 

Judging from her six Row- 
landsons, hitherto unrecor- 
ded, and the four Menzels of 
which three are also complete 
discoveries, she only went for 
the top, pursuing the same 
vision in the work of vastly 
differing artists. 

The Menzels build up a 
sequence. The figure of a 
housewife bending forward 
to dip some implement in a 
basin, the likeness of an el- 
derly woman with her bead 
bent forward as she clutches 
a long pin with pressed fin- 
gers, the profile of a peasant 
smoking a pipe with joyous 
concentration, and a woman 
heaving her hand on to a 
ledger, with bright eyes and 
her Ups open to cry out, all 
look tike stills from a film. It 
is as if each character had 
been caught in the split frac- 
tion of a second striking a 
posture that casts its type. 

T HE collector's Row- 
landsons betray pre- 
cisely the same fas- 
cination with hu- 
mans in action expressing 
their feelings through body 
lan guage and mimicry. In 
“The Sculptor’s Shop,” two 
eager young sculptors are 
busy incising with a point or 
hacking away with a burin 
under die goggle-eyed admir- 
ation of two burly collectors. 



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4 


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Rowlandson’s "The Smithy" (detail), from the collection of Helene Becks tein. 


Their beribboned powder- 
ed hair and general pretense at 

elegance are at odds with their 
ungainly paunches. This, and 
other watercolors — “The 
Smithy," '‘Selling a Wife" 
— represent tableaux in the 
“Human Comedy" that the 
elusive Frau Bechstein 
sought to re-create in visual 
form. 

Most moving are the wa- 
tercolor portraits of Nolde 


How the Artist Faces History 


By Michael Gibson 

International Herald Tribune 


P ARIS — “Facing History” (“Face a I’histoire 1933- 
1996"), an ambitious exhibition that opened this 
week at the Pompidou Center, attempts to deal with 
the issues of art and politics from the rise of Nazism to 
the present day. 

A subtitle strives to define the focus of the show: “The 
modem artist confronted with the historical event — com- 
mitment, testimony, vision" — and whatever dearth of co- 
herence the spectator observes may largely be ascribed to the 
broad variety of ways in which artists are seen to approach the 
whole matter. The exhibition does not actually stress this 
diversity, but it cannot fail to make it apparent, merely by 
assembling such a broad range of works under a single rubric. 

Consider the following, not entirely random choice of 
works to be seen in the show; Max Beckmann's ' ‘Departure," 
Otto Dix’s “Seven Capital Sins,’* Jacques Faultier s “Hos- 
tages,' ’ Picasso’s “Massacre in Korea,” Robert Motherwell’s 
“Elegy for the Spanish Republic.” Hemy Moore's “Row of 
Sleepers,” and Felix Nussbaum’s “Camp Synagogue” 
(painted in 1941V What do they really have in common? 

Beckmann's famous work (1932- 1933) is, according to the 
artist himself, an allegory of fate and freedom with no 
particular reference to contemporary events intended. Dix 
painted his “Capital Sins" in 1933 but only added the Hitler 
mustache to the squatting central figure in 1945. Fautrier’s 
near abstract canvases, painted in France in 1943-1944, 
during the darkest years of the war, celebrate its victims in 
quasi -faceless i m a g es whose significance only became ap- 
parent later, when the tide was announced. 

Picasso’s 1951 “Massacre in Korea” was executed as a 
piece of blatant propaganda. Compared to “Guernica” it can 



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strike one as painfully vacuous — as does his insipid portrait of 
S talin. The un transportable 4 ‘Guernica' ’ is a powerful piece of 
painting that embraces much more than its ostensible subject. It 
speaks just as much for London, Warsaw, Dresden or Hiroshi- 
ma as it does for Guenrica. The “Korea” painting, however, 
barren of experience and indifferent to historical truth, becomes 
no more than a stylistic exercise and speaks for no one, 

Motherwell’s elegy, despite its political title and the big 
black forms suggestive of mourning, stands on its own as a 
handsome piece of abstraction. Moore's famous Sleepers in 
die London Underground (1941) reflects a moment in history 
and stresses the monumental dignity of a people subjected to 
the disruption of everyday life and the ordeals of wartime. 

Nussbaum's beautiful and modest little painting does as 
much by showing pious Jews in prayer shawls making their 
way to a tin shack in one of the French camps where German 
nationals were confined at the outset of hostilities. Its 
poignancy is heightened by the way fee subject echoes 
through history — back into the past but also, in our sight, 
forward into what was yet to come. 

Artists are confronted with fee same events as everyone else, 
and they feel the same sorrow, shock and outrage. So it may 
sometimes be tempting to sling one's paint as one would an 
invective. Unfortunately, this rarely yields fee desired results. 
Asger Jean's monsters and predators (1950) have little bearing 
upon politics, but plenty to do wife die artist's psychological 
conflicts and paranoia, projected wife the greatest possible 
energy onto the broad screen of world affaire. 

A number of these wades seem to lend substance to fee view 
so eloquently expressed wife bitter self-derision in George 
Grosz's 1935 lithograph, “Art is Eternal.” In it fee lillipatian 
figure of the artist bestrides a broom and ineffectually waves a 
broken sword at a colossal pair of muddy boots as they stride 
past wife jingling swastika spurs, quite unaware of his pres- 
ence. 

The abundantly documented exhibition fills both top floor 
and mezzanine of the Pompidou Center with more than 450 
works by 200 artists, as well as an impressive quantity of 
photos, posters and documents. It runs until April 7. 



‘Row of Sleepers," 1941, by Henry Moore. 


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and Archipenko's nude stud- 
ies owned by a collector 
whose identity may remain 
concealed for ever. In the 
captions, the art lover is iden- 
tified as “probably Otto 
Krebs," bat fee introduction 
gives convincing reasons for 
^ijfmipiing the assumption. 
In the Nolde portraits, faces 
spring out from the shadow. 
In Archipenko's nudes, fee 
bodies are seen in a contras- 


ted lighting that leaves a 
.shimmer on them. They all 
look like unreal beings seen 
in a hazy dream. Whoever 
pat this assemblage togeth- 
er? 

In the aftermath of fee dev- 
astation of World War H, it 
occurred to no one to suggest 
erecting a monument to the 
‘ ‘Unknown Collector.” Wife 
its latest art book. Harry N. 
Abrams has done just that. 


Literary Prints 
From R.B. Kitaj 


By Ferdinand Protzman 

Washington Post Service 


W ASHINGTON— Books have been a constant 
inspiration in R. B . Kitaj’s life and career as an 
artist They have also caused him a fan- 
amount of pain, particularly in recent years. 

artist who’ has lived and wadseclfor ^nsuc^^Ms adukh^in 

fee^^art movement t^Dce many 
Kitaj's paintings and drawings are figurative and laced wife 
literary allusions or direct references to fee work of such -j 
authors as Franz Kafka or Walter Benjamin. “Fm not ’ 
afraid of the word ‘literary,’ "Kitaj said whm his first New 
York exhibition opened m 1965. “I feel in good company. 
You might say feat bodes have meant to me what trees 
mean to a landscapist” 

To Kitaj a s fens, this overt literary bent gives his work a 
cerebral richness few artists can match. Detractors accuse 
him of dressing up journeyman-quality art wife the writ- 
ings and ideas of some of this century’ s greatest minds. At 
the major Kitaj retrospective staged by fee Tate Gallery in 
London several years ago, British critics savaged him for \ 
being pedantic and intellectually pretentious. 

of Kitaj prints ^RobertB^own Gallery in Washington. 
The most interesting feature of this show, which focuses 4 
on Kitaj’s earlier, work, is a series of 50 screen prints from 
1969 titled, “In Our Time: Covers for a Small Libraxy 
After the life for the Most Part. ". 

The prints in feat series are reproductitxis of dust jackets 
from books in Kitaj's library. Tfilom individuaBy, they are 
pieces of art that captivate fee viewer’s eye, heart and mind. 
Collectively, they weak like a self-portrait of the artist, 1 
creating a composite picture of his intellect, personality ami 
souL 

A LL fee ‘To Our Time" prints are priced at 
$1,000, whije .fee,. dozen .other Kitaj prints on 
display from the l&Os through fee eady 1980s 
go for $1,000 to $4,400. The dust jackets were 
el Duchamp’s idea of fee “ready-made," 
objects ana placing them in a A j ffyj r ^y t 

asabicyde wheel mounted on a kitchen 

stool — feat freed them from traditional associations and 
made than art. Kitaj took that notion further, choosing fee 
bode jackets for their visual a p p ear a n ce as well as their 
associative value. 

One of the most chilling works in fee show is fee ptwm 
brown cover of a book; fee work is called “The Jewish 
Question —A Selection of Articles (1920-1927) Published 
by Mr. Henry Ford's p®™*- rw™. — j — » .» 


taking 
context — 


j, whose reading and ait often explore 'his Jewish 
ident i ty, fou nd fee text in a used-book store. The tide is a 
gnm reminder feat just 70 years ago, one of America’s 
legendary industrialists was publishing blatantly anti- 
Semitic drivel. 

There is an in tima t e quality to tile exhibition, like 
scanning another person’s bookshelves, trying to decide 
what fee titles and the physical wear-and-tear on fee dust 
jackets and bindings say about the owner, fit Kitaj’s case, 
they say a lot about an artist’s Hfe in the 20th century. 


SOM. 


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•Airbus Pact 
On Reforms 
Is Reached 

Boeing Co. Is Target 
Of RestnicturingPlan 

Bloomberg Business News 
r - : PARIS — Airbus Industrie’s partners 
readied an agreement Friday on bow to 
restructure die planetnaker to make it 
more competitive with Boeing Co. 

ipakaPsaiddiat a mcmora^m of un- 
derstanding had been agreed, on at a 
meeting in Paris of its supervisory 
board, but that Airbus would not make 
ihe contents public for several days. 

• .The accord is a milestone for the 
feroup, which in recent months has been 
piralyzed by quibbling among the part- 
ners about how they should approach 
establishing a single corporate entity. 

In the United States, Boeing an- 
nounced h welcomed tbe reorganize- I 
ton, saying, “We expect that this re- I 
crgaivizatiou would also be consistent 1 y ' ' > 11 
vitb existing international govemment- 
d agreements regarding subsidies, and 
fiat it will further remove Airbus op- 
erating decisions from government con- 
jfrl and influearce." . 

The need foir a corporate entity with 
itreamlined management has become 
ill the more urgent in die face of Boe- 
ing’s agreement last month to acquire 
McDonnell Douglas Carp. 

; Including McDonnell Douglas’s 
Sjiare. Boeing now has close to a 70 
percent share of die world jet market, 

Compared with Airtms’s 30 percent. The 
European group has vowed to win SO 
percent by 2000 or shortly thereafter. 

• In 1996, Airbus logged caders far 307 
planes worth $20 billion — nearly three 

•primes its orders for 106 planes worth $7 
^billion in 1995. If Airbus includes or- 
ders by the U.S. Air Force foe 120 
planes, announced in late 1996- but not 
yet signed as firm contracts, die tally 
rises to 420 planes worth $25 billion — ■ 
compared with 645 planes worth $47 
billion for Boeing in 1996. 

Airbus as it stands now is anraketing 
vehicle for commercial aircraft made by 
the four partners. — Aerospatiale, Brit- 
ish Aerospace Pic, Daimler Benz 
Aerospace and CASA of Spain, but 
there is no company as such. Each of the 
four partners owns its own .assets. 


ribune 

BUSINESS/FINANCE 

SATURDAY-SUNDAY, JANUARY 4-5. 1997 


Burdened by Debts 

WhSe the cost erf running nuclear plants te about the same as for other types of power plants, the fixed 
costs that stem from bidding the plants make the electricity they generate much more costly. For those 
utBftias that have invested heavily in midear power, deregulation could pose problems if that debt 
' burden does mat continue to be assumed by rata payers. 

COST OF POWER GENERATION _ 

■ Figures amtor 1095. In cents per kSowatt hour. 


VARIABLE FIXED 
COSTS .COSTS 


.Nuclear 


Hydroelectric ^4 049 j ■ slbo 


Includes solar, wind and sjrs turDriws. 
usuaRy far peak demand periods. 

Shuck' WaMnoEnetgy toe. 4wn 
FetMtatEi^o y RegMoryCoamiaa^nttatn 


ip* tfriurtES wrm the greatest 

•*£'. RELIANCE on NUCLEAR POWER v| 

j*. PERCENT OF CHANGE ^ 

5i\ POWER FROM (N STOCK 

dF NUCLEAR PRICE 






j?* Rochester Gas 

ENERGY IN 1995 

IN 1996 

ig, and Electric 
fji' Upstate New York 

mm 

-15.5% 

W: ijnloom 
f.' Chicago arva 


-17.2 

? Peco Energy 
f Philadelphia arva 

pibhi 

• -16.2 

Northeast Utifitles 

New England 

mm 

-45.9 


mi 


' B Paso Electric* M 

West Texas 

. -Emorged tram bankruptcy last January 
' Sources; flegufatotyfiBMM*As^^ 


RAGE 9 


Rally on Wall Street 
Fires Surge in Dollar 

French Franc Gets a Pummeling 


N.Y. Times Newt Service 


C.mpOrJIn Ow SujfFrrmDap&chrt 

NEW YORK — The dollar soared 
against major currencies Friday amid a 
rebound in U.S. stocks and bonds, fuel- 
ing optimism that international in- 
vestors will keep snapping up those 
securities and the dollars needed to pay 
for them. 

"The gains are being fueled by the 
surge in the stock market, with some 
help from what’s going on in bonds." 
said John Duffy, a currency trader at 
Bayerische Vereinsbank AG. 

The Dow Jones industrial average 
dosed 101 .60 points higher at 6,544.09, 
while bond prices also rose. (Page 10.) 

But in Europe, the French franc 
slipped after the French government re- 
placed advocates of a strong franc on the 
central bank's monetary policy council, 
raising questions about President 
Jacques Chirac’s commitment to the 
planned European single currency. 

The dollar surged to 1 16 33 yen, its 
highest level in more than three and a 
half years, from 1 15.65 yen Thursday, 
and to 1.5660 Deutsche marks from 
1.5435 DM in its biggest one-day gain 
in 16 months. 

In France, the appointment of Pierre 
Guillen and Jean-Rene Bernard ro the 
Bank ofFrance’s monetary policy coun- 


cil drove the franc lower. 

"The market fears that these appoint- 
ments will somewhat speed up the down- 
trend in French interest rales." said Paul 
Meggyesi. an analyst at Deutsche Mor- 
gan Grenfell. Still, "one can’t talk about 
speculation against the French franc, but 
rather of a wave of sales.” he said. 

Some dealers said the appointments 
should not have much effect on France's 
strong-franc policy. 

Mr. Guillen and Mr. Bernard will 
serve for nine-year terms. They replace 
Jean Boissonnai and Bruno de Maulde. 

In New York, the dollar soared to 
5.2915 francs from 5-2040 francs 
Thursday. The mark closed in Paris at 
3.3796 francs, up from 3.3716 
Thursday. 

The U.S. currency also climbed to 
1.3595 Swiss francs from 1.3470 
francs. 

A rebound in the pound against the 
mark also lifted the dollar, as traders sold 
marks for dollars and used those dollars 
to buy pounds, traders said. The pound 
rose to 2.6462 DM from 2.6161 DM. 

"Sterling is doing well on the crosses 
— that has helped to pull the dollar up a 
bit,’' a trader said. 

See DOLLAR. Page 10 


Who Will Pay for Nuclear Plants ? Rumors Spark Swedish Banks 


By Bamaby J. Feder 

New York Tunes Service 

CHICAGO — U.S. nuclear power 
plants are delivering record quantities 
of electricity andaoing it more ef- 
ficiently and safely than ever before, 
according to industry statistics. 

But the never-ending debate about 
nuclear power's future is heating up 
again, this time fanned by fears that 
many nuclear plants could become fi- 
nancial albatrosses as deregulation 
gives business and residential con- 
sumers choices about where they buy 
power. 

The issue: How will investors, tax- 
payers and consumers — including 


those who defect to competing energy 
providers — share in paying for the $70 
billion or so in debts piled up to build 
the plants and the billions more that will 
eventually be needed to retire them? 

While the issue is far from settled, 
the .new economics of competition is 
already driving the most basic stra- 
tegic decisions at many utilities, from 
the giant Commonwealth Edison Co., 
which supplies 70 percent of the 
Chicago region’s power from 12 nu- 
clear plants, to Long Island Lighting 
Co., which never sold a kilowatt of 
power from its Shoreham nuclear 
plant but is struggling with the $4.5 
billion debt left over from that aban- 
doned project. 


The high rates that the utility 
charges to pay off that debt helped 
push it this week toward a merger with 
Brooklyn Union Gas Co. 

Most nuclear utilities want a tran- 
sition to free markets that could take as 
long as a decade. In that time, they 
want to be allowed to recoup their 
investment in nuclear plants from rate 

{ layers, even from those who switch to 
ower-cost competitors. Those who 
leave would be dunned in the form of 
so-called exit fees or surcharges on 
their new bills. 

Some nuclear utilities say they 
could be bankrupted or, at the least. 

See NUCLEAR, Page 13 


By Erik Ipsen 

International Herald Tribune 

LONDON — Reports that Sweden’s 
Wallenberg family may seek to buy 25 
percent of state-controlled Nordbanken, 
and to merge that bank with the family's 
long-time financial flagship, Skand- 
inaviska Enskilda Banken. sent shares 
in both institutions soaring Friday. 

A merger would make SE Banken. in 
which the Wallenbergs control 15 per- 
cent of the shares, one of Scandinavia’s 
largest banks. It would make it com- 
parable, in terms of total assets, to its 
arch-rival. Svenska Handelsbanken. 
which just last month agreed to buy 
Sweden's leading mortgage hank. Stad- 
shypotek AB, in an all-cash deal worth 


23 billion kronor (S3.4 billion). 

An SE Banken-Nordbanken combin- 
ation would create an institution with 
assets of 778 billion kronor, only 1 1 
billion kronor less than Handels- 
banken 's new total of 7S9 billion 
kronor. 

Nordbanken ’s shares closed Friday 
up 6.50 kronor at 222, and SE Banken 's 
share price rose 2.50 kronor to 70.50. 

As share prices climbed, investors 
brushed aside Swedish government 
denials that talks with the Wallenbergs 
had taken place. 

But investors also seemed to ignore 
comments made last year by Investor AB, 
the Wallenberg holding company, that it 

See SWEDEN, Page 13 




I SCENE 


Do Computers Really Make Us Better? 


By Laurence Zuckennan 

New York Times Service 


* TEA "T"EW YORK — Dell Computer 
- |\ I Carp, has designed its newest 

! I ^1 factory without room for in- 
X N ventory storage. . Chrysler 
£orp. can increase production without 
building factories. And General Electric 
Co. expects to save millions by pur- 
chasing parts for its plants over the 
Internet. ... 

On the surface, these are manufac- 
turing stories. At heart, they are among 
the thousands of new business practices 
made possible by technology. 

But the question remains: Just how 
have the changes wrought by computers 
and software affected the .overall econ- 
omy? Have they helped smooth the 
humps in the business cycle by enabling 
companies to be more efficient? 

■ There is no doubt that Ameri ca is 
deep lira toveaffair with the computer. 
As of tbe third quarter of 1996, die 
annual rate of spending on information 
technology ' in the United States was 
$251 billion, or 3.6 percent of gross 
domestic product. That compares with 
an annual cate of $47 billion, or 1 percent 
of GDP, inlhe third quarter of 1980. 

"The fact is that corporate America’s 

appetite for technology now shows no 
bounds,” said Stephen Roach, chief 
economist at Morgan Stanley & Co. 

But what statistical evidence there is 
suggests that computers have had a re- 
latively small impact on improving pro- 
ductivity, particularly in services. 

j Technology boosters, however, insist 


the economists are failing to grasp the 
important changes that computers are 
bringing to thousands of companies. 

"To say that the results aren’t there 
asserts a level of ansopfcristi cation about 
the economy,” said Michael Hammer, 
co-author of “Re-engineering tbe Cor- 
poration,” a 1993 best-seller. 

Information technology has allowed 
businesses to streamline, their opera- 
tions in revolutionary ways, Mr. Ham- 
mer said. Retailers can monitor sales at 
the checkout counter and restock 
shelves before a product is sold out 

Heavy manufacturers like Chrysler 
can squeeze additional output from ex- 
isting plants when demand surges — 
more quickly and less expensively than 
by adamg new factories. 

Sixteenmonths ago, Wal-Mart Stores 
Inc., die largest U-S. retailer, began re- 
cording every sale in every one of its 
2^268 stores in a giant "data ware- 
house." The company uses tbe data to 
hone its marketing strategies. 

The German software company SAP 
AG has grown rapidly by selling pro- 
grams that automate and link together 
all aspects of a company’s operations. 
The system processes orders; schedules 
and tracks manufacturing; dispatches 
and tracks goods, and makes sure they 
are invoiced properly. 

“It is difficult to overstate the amount 
of unproductive work that was going on 
in large organizations until tbe 90s,” 
Mr. Hammer said. 

Dell Computer is perhaps the purest 
example of the efficiencies made pos- 
sible by information technology. 


Unlike its rival Compaq Computer 
Corp.. which uses a vast network of 
resellers, Dell sells all its systems di- 
rectly to its customers. The company 
waits until it has received an order be- 
fore it begins to build a machine. 

"We don’t have to guess what our 
customers are going to buy,” said Mi- 
chael Dell. 3 1 , the company's chairman. 
"They tell us every day.” 

Dell has redesigned its computers so 
that each model incorporates as many of 
the same parts as possible. The company 
minimiTgs the number of parts it holds 
at any one time by relying on suppliers 
to stock its factories in much the same 
way as packaged- goods companies 
keep their products on supermarket 
shelves. 

At the end of September, the com- 
pany had 1 2 days of inventory, Mr. Dell 
said. That allows Dell to respond 


quickly to new technology, shifts in 
customer demand and changing prices. 

But Dell wants to go further. In a bold 
experiment, the company’s new factory 
in Austin, Texas, is designed to drive 
inventory levels even lower. Tbe new 
plant will have no storage space. "We 
believe that if you don’t have any place 
for inventory, then you won’t have any 
inventory," Mr. Dell said. 

Such efficiency, Mr. Hammer and 
others said, has helped insulate the na- 
tional economy from the waxing and 
waning of the business cycle. If busi- 
nesses no longer overproduce during 
booms, they won’t be forced to cut 
production and lay off workers when 
demand slackens 


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7 

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26 

34 

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70 
77 
77 
87 
94 
76. 
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24 


2 

3 

4 

5 

6 

7 

8 
10 
12 
13 

15 

16 
18 
27 
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 

60 
61 
62 

63 

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5750 

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620 


Dollar in Deutsche marts B Dollar in Yen 


1.50 

1.46 



114 

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A S O N D J 

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£»7a^.k. .mrMz 

Source: Bloomberg, Heaters 

bucnuDoml Herald Tribune 

Very briefly: 


Dividends Rise Fast, 
But Shares Rise Faster 

Payouts Up 13 . 8 %, the Most Since 1980 


By Floyd Norris 

New York Times Service 


Construction Spending Increases 

WASHINGTON (Bloomberg) — U.S. construe don spend- 
ing unexpectedly rase in November at the fastest rate since 
March of last year. 

Spending increased at on annual rate of 1.9 percent, to $592 
billion, in November, the Commerce Department said Friday. 
In October, spending rose a revised 1.5 percent, initially 
reported as a 1 .8 percent gain, reflecting growth in nearly all 
major categories. 

Analysts had expected a 0.4 percent drop in construction 
spending. 

GM Falters While Chrysler Gains 

AUBURN HILLS, Michigan (Bloomberg) — General Mo- 
tors Corp. reported another sales decline in December, while 
its smaller rival. Chrysler Corp., continued to gain in a 
stronger than expected sales year. 

GM said car and truck sales fell 14 percent to 343,513 for 
the month, about whar analysis expected. For the full year, 
GM's sales declined about 2.8 percent, with car sales down 6.5 
percent and truck sales up 3.3 percent. 

Chrysler eked out a gain of 1 percent for December, but its 
U.S. sales rose 13 percent for the year, setting a company 
record of 2.45 million vehicles. 

• Bank of New York Co. said it would seek to raise its stake 
to 9.9 percent in State Street Boston Corp., one of its main 
rivals m the business of processing securities. 

• Kiwi International Air Lines said it would return to die 
skies on Jan. 20, but with fewer than half the flights it had 
before filing for bankruptcy protection. 

• Texaco Inc. agreed to let the U.S. Equal Employment 

Opportunity Commission monitor the company’s compliance 
with a private settlement resolving a racial discrimination suit 
brought by black workers. ap. Bloomberg, nyt 


NEW YORK — U.S. companies 
raised dividends at a rapid rate last 
year, but the increases did not come 
quickly enough to keep up with 
share prices. 

Data made public by Standard & 
Poor’s Corp. snowed that 2,1 7 1 U.S. 
companies increased their dividend 
payouts in 1996, up 13.8 percent 
from the previous year and the most 
for any year since 1980. 

At the same time, the dividend 
payout on the stocks in the Standard 
& Poor's 500 stock index rose 8 
percent. 

That was the largest increase in 
the dividend payout since 1990, 
when it rose 1 1-5 percent, but the 
increase did not even come close to 
the 20.3 percent price rise shown by 
the S&P 500 during 1996. 

As a result, the dividend yield on 
the index — once watched by many 
as a barometer of market valuation 
— fell to a record low of 1.97 per- 
cent in November, although it has 


since risen a bit as some companies 
raised payouts and share prices 
slipped a bit 

At the end of 1996, if was 2.02 
percent Before the current bull mar- 
ket, that figure had never gone be- 
low 2.5 percent. 

Historically, when the yield has 
been low, die value of stocks has 
often been considered too high- 

Dividend changes historically are 
a lagging indication of corporate 
profitability and at the same time a 
sign that corporate boards have con- 
fidence in the future. 

Because dividend reductions are 
seen as a bad sign, companies are 
reluctant to raise payouts to an un- 
sustainable level. 

There was a slight, and statist- 
ically irrelevant, increase in the 
number of companies that provided 
bad news for shareholders by either 
reducing or eliminating their di- 
vidends. 

There were 130 such announce- 
ments last year, up from 128 the year 
before. But that was still the second- 
lowest total since Standard & Poor's 



;bng tit 

it was less than a third the num- 
ber recorded in 1991, after the most 
recent recession. 

The generally good economy no 
doubt is one reason why few di- 
vidends are being cut these days, but 
another one is that dividends are 
simply not being raised the way they 
used to be. 

In this buoyant stock market, 
companies have seen relatively little 
demand for higher payouts from 


shareholders who, after all, have 
been seeking and getting capital 
gains. 

Many companies argue that they 
are effectively returning money to 
shareholders by repurchasing their 
own shares. 

Arnold Kaufman, the editor of 
The Outlook, a Standard & Poor’s 
newsletter that reports on dividend 
policy, said he thought that if price 
gains were harder to come by this 
year, investors might be more in- 


clined to push for dividend in- 
creases. 

There would seem to be plenty of 
room for such increases. The payout 
ratio — the percentage of corporate 
profits returned to shareholders 
through dividends — is Likely to Be 
around 40 percent when final earn- 
ings figures for the year are recor- 
ded, Mr. Kaufman said. 

That is down from 41 percent h f 
1995 and not far above the record * - 
low of 38 percent, set in 1979. 


■-^4, 


DOLLAR: U.S. Stocks Power Rally 


Continued from Page 9 

In New York, the pound was 
quoted at $1.6877, down from 
$1.6938. 

Inflation fears had driven U.S. 
stocks and bonds lower on Thursday, 
dragging the dollar down. 

The dollar is expected to continue 
to track U.S. assets next week, with 

FOREIGN EXCHANGE " 

the November producer price report 
due Thursday and the jobs report 
Friday seen as key indicators. 

“We are in a situation where 
people are looking at the asset mar- 
ket for direction,” said Chris 
Tinker, the chief treasury economist 
at Standard Chartered. 

The U.S. unemployment report is 
due out Jan. 10. 

The dollar could suffer if bonds 
and stocks nimble again, traders 
said. “If we see a big sell-off in 
these assets, it will curtail gains in 
the dollar,” said Austin White, for- 
eign exchange chief at Yamaichi. 

While higher U.S. rates typically 
make the dollar more attractive, die 
currency is not expected to benefit 
from data pointing to stronger-than- 


expected growth if they trigger in- 
flation concerns. 

“There’s been a firm tone to the 
U.S. numbers lately, which will 
keep talk of higher U.S. rates alive,' ’ 
said Ian Axnstad, an analyst at 
Bankers Trust 

(Bloomberg, AFP, Reuters) 

■ Gold Sinks to 3- Year Low 

Gold plunged to more than a 
three-year low on Friday amid con- 
cern that sales of gold by European 
central banks will escalate, while 
investment demand stays low, 
Bloomberg Business News reported 
from New York. 

February gold fell $4.60 to $362 
an ounce on the New York Mer- 
cantile Exchange, its lowest price 
since Oct 11, 1993. 

Contributing to the drop was con- 
cern that European countries may 
sell part of their national gold re- 
serves in coming months in a bid to 
reduce budget deficits. 

“Prospects for inflation are 
muted and the U.S. economy, which 
is moving forward, is doing so in a 
way which isn’t worrying anyone so 
there's no need to buy gold,” said 
Jeffrey Ralph, a trader at Royal 
Bank in Toronto. 


Technology Shares Lead Rebound 


?> 

•■*3 


CeapaedbjOtrSuffl'nmOdpaicbei 

NEW YORK — Stocks 
for the first time in four days on 
Friday as Intel Corp. led a computer- 
industry rally ana steady interest 
rates encouraged investors. 

The Dow Jones industrial average 
closed 101.60 points higher at 
6.544.09. Advancing issues out- 
numbered dec liners by a 18-to-7 
margin on the New York Stock Ex- 
change, 

Interest rates fell, easing concern 
that corporate profits might not live 
up to expectations. 

The benchmark 30-year Treasury 
bond rose 3/32 to 97 2/32, caking the 
yield down 1 basis point to 6.73 
percent 

“The stock market depends on 
the bond market regaining stabil- 
ity,” said Richaid Cripps, chief 
market analyst at Legg Mason Inc. 
in Baltimore. 

The technology sector rose after 
Salomon Brothers touted die shares 
of Intel, the world’s leading maker 
of microprocessors. Salomon raised 
its 1997 earnings estimate for Intel 
by 16 percent to $9 a share, its 1998 
estimate by 42 percent to $1 1 and 


raised its investment opinion to 
“strong bay” from “hold.” Intel 
shares soared 8 to 138% and were 
the most active U.S. issue. 

IBM rose 54* to 159 and other top 
computer companies such as Mi- 
crosoft climbed 3 to 84% and Cisco 
Systems gained 2% to 65%, 

U.S. STOCKS 

lifting the technology-laden Nas- 
by 29.98 points to 1,310.68. 
Marks, chief investment of- 
ficer at Harbor Capital Management 
Co., said Intel, Microsoft and Cisco 
could be among the top-performing 
stocks of 1997, even with an average 
1996 gain of 97 percent between 
Them. 

“They’re growing at tremendous 
rates, and they’re unique companies 
with unassailable positions in the 
marketplace,” said Mir. Maries. 

As interest rates declined, finan- 
cial sector shares such as First Uni- 
on sped 1 'A to 74%, and Wells Fargo 
climbed 3%to 273%. Lower interest 
rates often help interest-sensitive 
stocks such as banks because lend- 
ing increases — as does the value of 


banks* bond assets. 

Bank of New York gained % tt 
34% after it proposed to increase in 
stake in State Street Boston, a bank- 
ing and financial-services company, 
to 9.9 percent from 4.99 percent. 
State Street shares soared as in- 
vestors speculated that Bank of New> 
York might make a buyout offer. - 
FBeNet sank 8% to 23 after the 
maker of optical-storage systems 
said its profit in the fourth quarter 
would rail 60 percent short of ex- 
pectations and 37 percent below the 
fourth quarter of last year because of 
scaled-back or delayed orders. 

Shares of Cybercash tumbled,^ 
after Hambrecht & Quist questioned 
whether the Internet-commerce 
company bad enough merchants to 
meet its revenue projections, cutting 
its rating to “hold” from “buy.** 
Shares feU4>/- to 1834- 
Tobacco stocks such as Philip 
Morris shrugged off an expected 
ruling by a judge in Florida to allow 
the stare to seek punitive damages in 
its lawsuit against the cigarette in- 
dustry, analysts said. Philip Morris 
rose Philip Morris rose 116 to 113. 

(AP. Bloomberg) 


AMEX 


Friday's 4 pan. Close 

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U. S. STOCK MARKET DIARY 


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□RCA 

OWcrtoM 

«DoBG 

CHjrtHd 

pommel 

Cotnran 

DavtanMn 


0 IbHCT 

DOAlCE* 

□rewfnd 




&»8c 

FenWim 


GwM> 

Gexn&c 

GmnlM 


*cMd8mF 

Hctsev 

HaneOr 

i-towDtr 

HanwtS 

HV*pi 

Hfl5dm 

HOW Ail- 

WhPres 
H*or» n 
Hmvaa 
HameVwi 

vSSSL 


iS? YSf 


THm oise 

TTii»*W n 

Tlrndx 

Thrmwd 

Ttowv 

TtXJSrca 

7W0W 

TWA 

TrnUTWn 

TraxMeon 

TrMjecjj 

nsMtx 

USFGP 

uri&a 

urtMD 

Umnr 


use* 

Uni MV 

V9CAOM2 

VKSdS 

vioom 

vnee 

Vioewic 

vikwie 

V4-CB 

VWoGb 

VBranie 

Vanma 

WRIT 

Wcbmin] 

WMCra 

WIPET 

WWW Tl 

WEHFran 

WEBHKn 

«VEE4n» 

WEBSwdn 

xCLua 

Xykvt 


100 9ft 

1001 75ft 24 
550 Jft 5 
143 lft )Ui. 

266 17ft 16ft 

111 S‘n9 3ft 

311 'ft. %» 

11$ 2fti> 29* 

205*7 7*Wn 74 Vm 
2D9 49Wq. «», 
,100 1394 13ft 
1334 IVi. JUu 
1*4 2"b 2 

95 17 lift 
12S TVn lft 

101 13ft 13ft 

91 i 9V. 
•I » 27ft 

101 8ft 
122 14ft 14ft 
111) 36ft 35 9* 
742 4ft 4 
118 14ft lift 
SU 18 17ft 

189 29ft S9ft 
.73 9ft VA 
376 339k 23% 
?1 7 » 10 
50 16 159k 

73 1394 13ft 

91 27ft 2794 

77 1H 194 
05 4ft, 694 
756 2ft 7ft, 
347 10% 10ft 

4191 794 7 

147 14 TJft 

78 13 17ft 

>57 At 4ft 

23J7 15ft 15ft 
1« 17ft 179k 
ISO 35ft 32ft 
1324 ft. ft 
167 4ft 4ft 
143 3ft. 3ft 
108 594 5ft 

1675 14ft U1H 
400 2Sft 2794 
88 7ft 7ft 
U0 lift lift 
240 18ft 10*4 
412 36ft 3494 
JUS 25ft 35% 
ISO Vs ft* 
1349 jft 294 
. 88 14 1194 

KM 194 ]% 

116 1ft lft. 
176 1294 1294 
379 I7ft left 
174 Sft 594 

92 4ft 4 

,116 13 1294 

1571 lift 18ft 


242 Uft !*. 
217 13ft, a. 


271 I5V U 


183 17 ~ leTft, 

71758 «u V« 

■0 lft, lft 


7% 

13ft —ft 

3Vi, 

.914 

J4ft — 'A 
5ft -ft 
1ft 

1794 +ft 
3ft — V,, 

74ft 

F3 

n +ft 

11s 

A 

ft 

3691 +14 

4 — Vu 

16ft -ft 
1794 
29 9k 

9ft _ 
Bft «% 
MIS +ft 
159k *ft 
73ft *ft 
27ft +ft 
19k —ft, 
4ft 

2ft +ft, 

10% _ 

.%■ 

13ft *ft 
12ft —ft 
4ft -V, 
1591 

17ft - 
35V4 *394 
+ft, 
4ft -ft. 
3ft -ft. 
5ft +,ft 
14ft 4 lft 
ZS *ft 
7ft +V4 
lift +ft 
10*4 +ft 
3494 *ft 
35ft *99 

A +% 
’1% IS 

lft 

1294 -94 
1 7ft —ft 
594 *ft, 
«, .ft. 

10ft -ft 
Mft. -Vi, 

«S ^ 

17 - 

Vi* ‘ft* 

1 +ft* 


Trading Activity 
NYSE 


Aduoncad 
Declined 
Untftanotd 
ToM issues 
New Holts 
New Lows 

AMEX 


Admnced 
Dadned 
Und m wed 
TaM issues 

klsUl I p I J ■■ 

lft" nvu 

New Lews 


1861 700 

744 1868 

723 492 

3370 3341 

87 67 

17 16 


341 227 

199 313 

177 IfiO 

717 729 

22 14 

7 5 


Nasdaq 


AdMmd 
□etfned 
l*KtOToea 
TeM Issues 
N ewl B g h s 
New Lems 

Market Sales 


NYSE 

Amex 

Nasdaq 

AdfliHbw 


am Pik 

2618 1836 

1427 2309 

1687 1604 

5742 5749 

125 vn. 

54 30 


Jan. 3, 1997 

High Low Close Chge Opkit 


Grains 

CORN (CHOn 

SAOO Du mWnum. doAats Mr bushel 

McrV7 2J9 2J6 256)4-0X2 149,171 

MOV97 261 25894 259 — 0JD2 53J69 

M97 %B ?-40« 24ffK -OOl 50*97 

Sen 97 13% 257ft 25894-001 M13 

Dee 97 157ft 256ft 257ft -0JB% 3BJ47 

Est sales NA Thu's, sate 4&05D 
Thu's open inf 30*415 UP 931 

SOYBEAN MEAL (OBOT) 

100 tons- dufcrenw ton 
Jon 77 22040 22&J0 277 JO -OJO 1UJ60 

Mar 97 22150 31820 22050 -030 32499 

660997 71750 71430 217.10 +040 17433 

All 97 217JM 21X00 216J0 +070 11486 

Aw 97 216.00 21150 21570 +070 2488 

Sea 97 21150 21 UIO 71150 +080 2JS 

Est.ldes 6LA. Thu's. sate 21910 
Thu's oaer'nt 79J41 up 366 

SOYBEAN OL (CBOT? 

«M» RJk- donora oer HO bs. 

Jon 97 2115 2192 2101 -0JX2 0814 

Merit 2351 7130 2339 -031 44,125 

Mar 97 ns zm mi -<ua M472 

JUI97 24.15 2195 2398 -014 10J79 

AUB97 24.16 2605 2408 -OTI 1079 

Sep 97 24.13 -020 1405 

Esf.sate NLA. Thu's. seto VM 
Thu's open kit 81759 off 222 

SOYBEANS (CBOTJ 
MMOtwmMnun- PDOorsawDutfiM 
Jan 97 7J» 091ft 096ft -003 0326 

660T97 7JTI 092ft 09(ft UJS6 

MOV 97 698ft 092 097ft -OSOft 28,196 

Jill 97 698ft 697ft 098ft +0.01 2W95 

Auo97 097 091 097 +QJD 1461 

Ed. sate NA Thu's, sate S1BM 
Thu'socenint 146J00 up 1969 

WHEAT (CBOT) 

5JM bu minimum- doom per bushel 
Mar 77 391 353 184 -0057. 31 4M 

Mar 97 169ft 36394 364 -OJMft 7661 

M97 346 147ft 342ft -Offift Z1M 

Sep 97 150 346ft 34694 -0612ft 1,007 

Est.sate NA Thu^.K4m 10360 
Thu'SEBOlM 60626 up 967 



High 

LOW 

Oose 

one 

OpM 

ORANGE JUK£(NCnt) 



lUUbs-oeraspcfb 




Jon 97 

76® 

7525 

74A0 

♦ 000 

1.751 

tretn 

HIJW 

7905 

80.® 

+060 

19003 

May 77 

BUU 

B3JD 

Bin 

+000 

6730 

JUW 

8700 

87 JW 

8700 

+000 

100* 

Est SONS NA 

TTW^SOte *652 


Thu's open ini 

27023 

Off 371 




Livestock 


CATTLE {CMEftJ 

40400 ftk- cents per O, 


Metals 

GOUHNCMX) 

100 bvr ok^- M kn pw bur as. 

Jon 97 361.10 -440 

Feb 97 36070 36140 36309 -440 9SAZI 

Mir 97 3fitsa — 070 

Apr 97 36750 36170 36400 — 25498 

Jun97 37020 36600 36650 —600 KJSS 

ADO 97 372.W 36070 -400 5527 

CXI 97 37440 37440 371 .10 —190 1367 

Dec 97 37758 37150 37340 -490 RZ16 

BJ. SCABS NA Thu's, sole* 30729 
Thu's open im 194516 up 4711 

HI GRADE COPPER (NDftXJ 
2US0 lbs.- am <w ft. 

Jan 97 10520 1M 10175 +0.15 5J46 

Feb 97 19000 102.10 10340 +0.10 1i29 

Mr9J 11005 101 JO W2J0 +0.15 21400 

Aren 10050 10050 U07D +0.15 171 

Mar 97 9990 9000 9940 +0JS 4344 

JUR97 9 040 +0.15 7tS 

JlH 97 9795 9600 9750 +ais 1540 

Aug 77 97.20 9750 9675 +030 580 

Sep 97 9575 9550 SMD +030 2407 

Ed. soles NA Thu's, sales 8,984 
Thu's open M 56355 up 1179 

SB.VBKNCMX1 

S400 nw dl- goes per bur so. 

Jan 97 4645 —U 418 

F«b 97 4664 -47 2 

Mar 97 4KS 4S74 4605 —47 57JB9 

Mar 77 477J 4720 4720 -49 9JB0 

JUI97 4QA 4760 477J —50 3J63 

Sep 97 4845 4865 4814 —5.1 USB 

Dec 97 4915 4880 4805 — 69 4J92 

Jan 98 491 J — 5J 6 

ESI. sate NA Thu's, sales 14,265 
Thu's open inf 85562 up 120 

PLATHUM (NMER) 
so tm cl- dolors per bar «*■ 

Jan 97 36608 36150 36140 — 2J0 1081 

AW 97 37100 3P50 36790 -^20 19531 

JuiJ7 37350 37100 37050 —350 1447 

Oct 97 37500 37500 37110 —140 2.140 

Jon 98 mm 37100 37570 -150 100 

Est. sales NA TTVlSOtW 5909 
Thu's open H 7MM up 06 


Hftft Low Close Clsge Opfttf 

10-YEAR FRENCH COV. BONDS (MATT F) 
FFSXUnO-ntsaMOOpcr 
Mar 97 12794 127^48 12790—004122536 
JOn 97 12608 12698 12659 — 006 1895 
Sep 97 12408 12408 12458—006 0 

Dec 97 N.T. N.T. 9400 —006 0 

EsLuotume: 109066. Opea bit: 317^41 up 

ITALIAN GOVERNMENT BOND ailW 
> rLmi - pa <a too pa 

tgmn 12110 WJJ 127 JC + 060 B7JS4 
Aw W 1 27J4 12734 12703 + 000 ‘ 

EAsdes; 269W. Pjw. salet: 34195 
Pnv.BpcalnL: 81324 off 2970 


uoo 


Dividends 

Company Per Aral Rec Poy 

IRREDIILAR 

Wood Bancnp - ,10 M3 1-30 

INCREASED 

First tinted Cap Q .14 1*21 2>1 

EXTRA 

AJIfenceWWH _ 30 M0 1>17 


RE6ULAR 

Q .10 M3 1-27 

M .1186 1-10 1-17 
M .1012*31 1-lfi 

M .12 12-31 1-16 

Q .11 M0 1-24 

M.1325 1-14 1J31 


AbtagteiSm 
AJlkmce wuFFi, 
BEAMcome 
BEASTrategtc 
CoosMI Flna 
Ernest! Ulfl 


Company 
Global Fortran 
KsntucttHrsI 
fjJfirarCcKp 
MunlPmtom 
Muni Portnera It 

ms&l Bancorp 
WlWstmlfl 

Nirveen A Z Piesp 

zSld 





Feb 97 

6617 

4630 

6602 

♦022 




Aw 97 

6670 

6632 

6657 

♦US 




Jun 97 

6112 

<202 

<Uf 

+0.75 

45105 

55805 

Aug 97 

SMB 

6207 

6207 

+005 




Oct 97 

AW 

6502 

6652 

+B.10 

48902 


Dec 77 

640/ 

6677 

6687 

+0.10 



EsLsoles 11071 Thu's.sdes 

11073 




Thu's ooenW 

87 AM 

up 806 




FEEDER CATOE (CMER) 





saeoo R>*- oenis per b. 



Per Ant 

Rec Pay 

Jon 97 
Mar 97 

6700 

6435 

67.15 

670S 

6702 

000 

♦ flJJ 

+023 

M .1187 

1-14 

1-31 

/wan 

6805 

6700 

68.17 

♦ 027 

Q .125 

1-17 

Isll 

May 77 

64JW 

6625 

6472 

♦030 

a 025 

*7 

2-17 

fmn 

ttm 

7003 

7165 

+02S 

M 0665 

1-14 

1-31 

Sen 97 

7010 

70.05 

7042 

•HL33 


Obso 

LONDON METALS (LMEJ 

Daten par metric ton 


Previous 


1527.00 1519ft 1520ft muhih stbbl iuc mm 

Z& mam 227500 M 9305 SS WM t 

220000 21611X1 21 6300 S«97 M Ml nS I 


M 0625 1-14 
Q.1254 MS 

a An ;-i5 

M 0675 MS 
M 0763 1-14 
M .125 1-14 
M .1187 T-T4 


1-31 

1-31 

1- M 

2- 3 
1-31 
1-31 
1-31 


Q -1125 M3 1-27 
Q 78 12-31 1-10 


Stock Tables Explained 

Scries figures arc umtffidot Yearly hlijha and laws reTKtcJ me previous 52 wt*5 plus ItK 
cunent week, butnotthekrtasllwdlngiloy. Where aspBt or stock cBvMendamaurtflng to 25 
percent or more has been paid, thereoralagb-tewrenfle aid iSvWend ore Steam for »e new 
stocks only. Uniws otherwise rated, rates of dMdends art anmxiJ dlsbursemcr* bas»«5 on 
the latest dedonrilao 
a ■ dMdend alS0 erdra CsJ. 

0 - amwal mw of ttMOend alas stock <3- 
vtdeniL 

c-llquklaflngrihridmd. 
cc>PEesceods99. 
cM-cated. 
d- new yearly law. 

<U • kiss In the tastl2 mortha. 

«-fflVtd8ndded«BndwpaMlnpreceift , jQl2 
months. 

( - annual rate. Increased on tast deda- 

flriton 

9 - divitend fai Canadian funds, subject n 
15% MfwesUNnee m. 

1 - dhldend declared offer HHJt-up ar stock 
dMdend. 

i-dMdindpddiNsintanlttatdBfaneaar 
noo^Wowollfltedd M dB nd meeteB. 
k * Mdend dedond or prid ms teas an 
KXuftiukfSre issue wIlhclMdends m cmean. 
n - annuol rate reduced an last dectao- 
Hon. 

n -new Issue In ttw past 52 wm* 3. The IMgft- 
taw range begins wBh H» start of trading. 

Dd - nod day deBrery. 


. . 377 

Est.sate NA Tte^Liate U65 
Tls/snpailnt 17021 up 359 

HOOS-LmtCMBO 

<OiOQQ pte-tuftpy h. 

Feb 97 7B05 77Jt) 7145 ~075 1U22 

Apr 97 7196 75JX 7iX +C.JS SM 

Jun V7 7VJ5 7145 79.12 -a® 5077 

JUI97 7U1 7625 7662 +WR 1040 

AUfl97 7147 719B 7340 +043 1,137 

oan #675 6630 6647 +232 M2 

Est.saes 8J57 Thu's-icte 8018 
Thu’s open W 29083 up Tl 

FORK BH.1.BFS (OBBO 
4000618. -calls per Bi. 

Min 82.15 8087 81J7 -0.13 1815 

Mcr97 81 JS IL52 B&BO —005 H5 

Nafft 8105 8075 81.05 — 060 742 

J077 8050 7940 80.15 -057 S» 

Al»97 7635 7185 7185 -OSO 221 

Est sales 1X35 Ws. sales Um 
T te'scpenM 4362 UP 41 


SMi 1 

Forward 1 

rCatbodas 

231500 

219900 220000 216100 

Lend 

700ft 702ft 70600 70700 

70200 7D40D 70700 707ft 


649000 650000 647500 648500 
658000 659000 657000 65B0JX) 


Spat 571000 572000 578000 579000 

forw ar d 576500 577000 584000 584500 
Ztec (Special Mgk Graft) 

1043ft 1064ft 1037ft 1038ft 
106400 106500 1 05900 106000 


BIROOaUARS ICMBO 
fl mIBon-ptiDf lIBpcl 
Jan 97 9(485 94415 94445 +10 25L2B8 

FW197 9MW «4T0 9C4W +10 44M 

Mar 97 94410 94380 9t» 4K53D 

Jun 97 9«M 94,189 9(200 +IS 327467 

MarN 912® 91230 *123) +B 38407 

Jun® man 91170 <n.w +» smz 

Sep 00 91160 91111 91110 +10 3MS7 

[Men 9X080 91030 93JQ0 +10 25035 

Est sides NA TSPvsate 461033 
Tbu'sopeuW 1076423 in 04154 
MBTEH POUND KHER) 

40400 naiMd*. S per pound 
Ua97 14990 14120 14852 -40 38422 

JUT 97 14930 L6800 UBI4 -40 2.182 

Sap 97 14756 1JC7. 

DoCW 14718 —S 7 

Ed.sd es NA ThU'S-SiOM WJ57 
Thu'S open W 41438 off 1153 
CANADIAN DOLLAR (CMER3 

10WHadHlkPS.SPkrCda.dk- _ 

Mar 97 J3X .7285 J32S +30 56,171 

Jun 77 7366 7330 7365 +30 11,127 

SeP 97 7400 7360 7397 +30 4^6 

Dec 97 7420 7400 7427 +30 342 

EsLsriee NA Thu's. sate 16059 
IMnapnW 72,133 up 3329 
^SBMANMARK KMBQ 
12S0OO raarki. 1 ncr mtrt 
Mir 97 4515 4*03 4420 -402 52049 

Jun 97 4483 4452 4*59 -102 4091 

Sep 97 4498 —102 1775 

Dec 97 4537 —M2 17 

Est.sties NA Thu't.sdes 22066 
TWsanenm 59032 off 83 
JAPANESE YEN(GW30 
U]nilMwn,lprW*w 
Mar 97 .608751 JmC4S 0OB679 -63 <2090 

Jun 97 000810 008766 JWD92 —64 1090 

SW97 «SW —65 2C 

Est sate NA Thu’s, sate 11163 
Thu'scppfllnt 64062 UP 4881 
SftBS FRANC KMBQ 
125JH8 franco s Per tome 
Mar97 7495 73H 7416 -72 42.158 
Am97 7516 7*® —72 1038 

Sbp 97 7555 —72 ljm 

a:stes NA Tiki's. salts UM 
Thu's oust U 4&49B Up 393 


JPP97 
Sap97 

5Sc77 

Mam 9145 9243 

H MM 

Maw rm ms 

jOOW K.13 9111 92.T3 + On? 54*4 

g£ 283 «0o SS-ug 1 



ifigti Law Close Choe OpM 

Oct 97 7745 7675 7660 -475 1094 

97 7695 762S 7628 -<U? 9074 

Mcr90 7790 77JS 7775 -040 453 

EsLsoles NA ThvTi- Safes 4,758 
ThU’seppnH 55084 up 427 
HEATJMGOO. imKBD 
*20)00 get- cant* par pel 

msa 71 ■ 29 -M2 39059 

MW W £40 6890 4908 -091 14068 

Apr 97 6605 61*0 4163 -03? SjtO 

Morn BJ0 4395 <293 -034 *39 

kmV 6075 6035 6003 —029 1125 1 

AII97 597S 5930 5908 -039 3066 

Aw W 5900 5U0 908 -029 12* 

5*52 5973 -029 1853 

OdW S998 -579 1774 

MW 97 6021 — aa? 1342 

S.S 0 to NA Thu's. 23J34 
WswenW 95021 up 13 

UCHTSWST CRUDE (NMBl| 

I AH bbL- daHan per bbL 

Feb 97 2571 2S3S 2196 -013 97418 

SS 501 ^ -0-10 'ff.ra 1 

Aw 97 2438 24.14 2433 - A 1 * 26X0 

ttarn 2349 2393 73M —OJSI 1)1675 

AM 97 ZUK 2291 2205 -006 BL05 

AH 97 2293 . 22.4S 2207 —Old K4ffi 

AW 97 22Jffi Z147 2200 -009 13,189 : 

S6P97 2396 3198 219S -OW , 

OtfW ZL14 21 J® 2109 -015 BAN . 

Nov *7 WM 3075 2077 -013 8.143 

Dec 97 2096 2035 S13 Hon 2U03 

J“l9B 2033 263 2833 — 8.10 1I0SD 

FM19B 2012 28.12 2112 —Oil 5728 

^»te NA Thu's. stte 54036 1 

WSOptnrt 365006 up 836 

NATURAL AUtNMBU 
JMRmmMA.tptramHu 
Feb 97 11K 20C 3090 

Mb-97 20W 2985 27* 

Aw 97 2075 2X10 Z0SO 

May 97 1290 2725 2790 

Am 97 2740 2J85 2730 

AH 97 1730 2.190 2720 

AUPW 2730 2UB 2720 

Sep 97 2230 2195 2230 +24 

Octw 273S 2215 2235 +H 

Nou97 23® 2310 2340 +58 102 

2-“ 2390 Z4W +U 6M 

5*-ases KA. ThtTosote 28051 
Thu's open felt 146728 up JIM 

U»6fADS36A50UWE0a4B0 

4Z.Q0Q ad- CMtts Mr ad 

Peb97 7T.1B 7000 7070 — o® 

SUw 9JS nM -US W9H 

AW 97 7190 IttSO 7131 —027 691 

M0V97 HU® rn» 7841 uS 

Am# £.10 6090 mji 

NR SB 6775 6703 —073 USD 

EAsate NA Thu's. ides 16018 ^ 

Thu's open W 59,1BZ off 624 
GASOIL 0 PE) 

UA. daBm perrMBfc tan * lots ofl 00 tots' 
22673 22790 -490 16409 
Feb 97 22S-75 2229*3 272.75 —390 21,143 
l i%2! 2,^5 24275 —225 0904 

12^-300 7015 

► 19S75 —250 - vm 


•y '• k 


e 




'•r^s 

■ -kkur 


•■■%*** 


+200 34787 
+1S 19017 
+ 100 11,106 
+£ W 
+28 8,118 
+15 700 
+ 18 66W 
6169 
6M 


the* 

«. *4 








Aal 97 204.75 20225 20225 —300 7015 
f ™ yjff '9425 195JO 1JS25 —250 i+wr 
fflfi ]|?75 18975 18975 —290 TAG 


47B 

Ml 

IN 


Off 6186 


p ■ InllM dMden4 annual rale unknown. 

P/E - price-earnings ratto. 

q ■ dosBtKntJ nntooMund. 

r- Oridend declared or paid In preceding 12 

months, plus sloe* dividend. 

t - stock sp8l. Dividend begins w«i date of 

spO. 

sis -sates. 

1 - dMtfentf port in stock in preceding 18 
months, estimated cash ratue on ex-dl- 
vktend orexKfistifeufion date. 
U'flewftwfrhtoh. 

<• trading haRetL 

ft - m bankruptcy or readmsMp or being 

reargontnd under the Banknrpicy Act or 

securtnes assumed by sodi companies. 

wd'Virhenrgstr&Hitrt. 

wt - when Issued/ 

mw - wflft warrants. 

*-8)i-dlWdandnre*-rigtns. 

«lh - ex -distribution. 

*w-wHhoui warrants. 
f- te^Bftdond and sates: In ML 
yid -yield, 
i- sates bi fun. 


Food 


COCOA OKIE) 


Mar 97 

1387 

1374 

1388 

Mar 97 

1407 

vn 

1406 

JUIV7 

MX! 

1423 

14Z7 

teP»7 

1413 

Utl 

U4J 

Dec 97 

1459 

1453 

MB 


1383 —31 32963 
' -11 13455 


-11 M77 


Wiannlnt 8345* up 412 


6632 


OBTEECtNCSB) 

37J»ea.-cwmoertx 

Mar 97 11675 11130 11625 -000 19032 

May 97 11*70 11300 11435 -Qjfl 70® 

Jft 97 11150 111SS 11125 —US ilfi 

Sep 97 11100 11000 111 JO _a«5 

B.mo W03 Ttw's.sftes 8012 
Thu'saoenint 32.149 up 1227 

SUSAR-HOfUIIWaS 
1120N lbs,-aM( per®. 

MO-97 11.17 10.92 1108 +614 76023 

WI0JV7 I LOB 1002 11.07 +0.13 

Jft 97 1009 HJ7 1497 +408 — - 

Od77 1904 1007 1002 MUM MTff 

Est.sate 27,114 Thu's.sate 14379 
Thu's open fert 154,975 up 177 


High Law date Chga Opint yxi . 

Financial 

US T. BILLS (CMBO 
P. rrtgnn- ntsoi lOOoa 
Mar 97 94.95 9693 9403 -HUD 5,101 

JW fl 9677 9475 9476 +4B Z4S3 

jgP ff. 9659 +001 33 

&.sftes na Ws. soles 1J75 
TlkrtawnW 7997 up 20 

5 YTL TREASURY (CBOT) 

*300000 wm- eh&Sbidiaiiaopa 
Mtr 97 106-165 106*075 106-095 + Q2S 152058 
025 

ra.sotes 40000 TlHrtLSHOS 60074 
Tin's apsi felt 15&82 up 1608 

UYR. TREASURY (CBOT) 

prin- ek* i JBnteBl l»po 

*“ 108-18 + 04 299097 
JudWUB-07 107-30 W-31 + « nitH 
SS>97 107-14 t OS ISO 

5000 Tters-sdes 79061 
Thu's open ht 301029 up 3781 

US TREASURY BONDS (CBOl) 

I* O^WOOJMCMllS S 32m*1 at loo «}1 

“orWJIS-p 111-12 m-H + 06 437021 

Jun 97 111-18 110-31 111-0 + KJ® 

SW971W-32 110-38 110-39 + 06 iUJ 
QBC97 11046 + 06 ■ 3087 

g.sate 275000 Mito 327045 
Thu'SOPOUnt 461048 up 10122 

L0W61LTOJPPQ 

H RS^ftfetlOOea 

:ts— 

I SWS^l 




QJ7I 204001 

968* 9681 9602 UodL wSct 

Sep97 9669 9606 9668 +I021M0OO 

UC97 HAS WAS 9607 +SSl3»B 


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merman Output Data 
^firing 1996 Growth 
Targets Within Reach 


INTERNAT IONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JANUARY 4-5, 1997 

' EUROPE 

Eastern Airlines Look West 

New Carriers of the Former Soviet Union Seek Allies 


PAGE II 


-ttahfcfttft:- 

DAX 


'■ . London ■*■ 

. FTSfclOQ Index 


. Paris ■ 
CACAO/" 


293 '4100 — 


> BONN — German industrial pro- 
. ducoon ended a two-month down- 
! i^ and grew strongly in November, 

'/ Pitting the economy back on course 

. to hit modest 1996 growth targets 
f first quarter of 1997 that is 

. to be weak,, analysts said 

■ industrial output rose a season- 
. ady adjusted 1 .6 percent in Novem- 
' • ■ pom October, the Economics 

Mmistiy said; Hie dechne in Oc- 
~i : tober output was revised downward 

; to 0.7 percent from 1.8 percent. 

• ■? , Compared with the previous year, 

November output was up 13 per- 
* -7ci :cent after a 0.9 percent gain in Oc- 

tober, the preliminary showed. 

■-t-q - • . • 

::s -* Repsol Buys Stake 

In Argentine Gas 

Bloomberg Business News 

.. MADRID — Repsol the Spanish 
oil and gas company, said Friday 
1 that it had bought 45 percent of 

\A Pluspetrol Energy SA, an Aigenfine 

Ml oil exploration company, for $340 

million. 

Pluspetrol owns a 60 percent 
.... stake in the Ramos natural gas field 
in northwest Argentina. It is the 
" T; country’s second-largest field, with 
reserves of 100 billion cubic meters 
-of gas. 

.'7 C 1 The company also holds 100 per- 

' v - cent of a ttombined-cycle power sta- 

r s ' -don. Central TennicaTucinnan. that 

7 * is powered by gas from the Ramos 

-field. 

' Repsol is seekmg healthier profit 
^ margins abroad as it begins to face 
^ :: stiffer competition in domestic mar- 

kets, analysts said. Similar problems 
^ ore faced by other Spanish energy, 
' _ _ financial arid tel ecommunicati ons 
^4 companies. 

Almost half the 1.6. trillion pe- 
- setas that Repsol plans to invest in 
-- the next five years will be made 
.abroad, particularly in Latin Amer- 
ica, the company said. 

Repsol slimes gained 85 pesetas, 

• or 1.73 percent, in the IBEX Index 
'■y of leading shares. 

. The company bought the Phas- 
er petrol stake through Astra, the Ar- 

gentine oil company in which 
-.r Repsol took acontrollmg stake in 

June. Repsol also holds stakes in oil 
exploration blocks in the Gulf of 
San Jorge and is active in the natural 
M .gas market iaBuc oofcAkeg through 

its 453-percent stake in Gas Natural 
SDG, the Spanish gas company that 
— also operates in Argentina. 


The gain exceeded market ex- 
pectations and eased fears among 
economists that Germany would 
miss a modest overall target of 13 
percent growth in gross domestic 
product for 1996. 

On a quarterly basis, economists 
said they expected fourth-quarter 
GDP to be stagnant or slightly high- 
er after strong second- and third- 
quarto- growth. 

But with snow blanketing Ger- 
many, pension contributions climb- 
ing to record levels front the start of 
the year, and tax breaks being 
scrapped, the first quarter is also 
likely to be fiat, analysts said. 

Rob Hayward at Bank of America 
in London said tfa»t the cold weather 
threatened a repeat of last winter’s 
weather-related economic setback. 

“Growth in the fourth quarter 
will be fiat at best, and there may 
even be a small contraction,” he 
said. “If we are looking at any 
growth in the consumer side, we can 
forget about iL The economy will 
remain weak.” 

The industrial output data for 
November showed broad gains in 
manufacturing, with consumer dur- 
ables gaining 43 percent Construc- 
tion activity, meanwhile, was down 
by 2 percent 

But with consumer de mand weak 
. and the economy still largely being 
carried by export growth, the overall 
picture was still subdued and left 
some scope for die Bundesbank to 
ease its rate for securities repurchase 
agreements, currently at 3 percent, 
analysts sa i d . . 

Although the economy is expec- 
ted to grow by over 2 percent tins 
year, that will sot be enough to 
tackle Germany’s jobs crisis, and 
Mr. Hayward predicted that unem- 
ployment would soar to 43 million 
by February. (Reuters. Bloomberg) 

■ Official Dismisses Tax Cnts 

■ Germany cannot afford to intro- 
duce income-tax reform as well as 
eliminate a surcharge to finan ce re- 
unification by the end of the century, 
said Wolfgang Schaeuble, the Chris- 
tian Democratic Union’s parliamen- 
tary chairman, Bloomberg Business 
News reported from Bonn. 

Mr. Schaeuble was referring to 
demands by the' CDU’s junior co- 
alition government partners, the Free 
Democrats, to remove the so-called 
solidarity tax by the year 2000 . 

Mr. Schaeuble said “one cannot 
afford simultaneously net tax relief 
jjf up 4 o 30 tuition Deutsche marks 
($19.4 billion) in the course of tax 
reform in 1999 and a complete re- 
moval of the solidarity surcharge.” 


By Justin Keay 

Special to [be Herald Tribune 

KIEV — The airlines of the 
former Soviet Union, saddled with 
often undeserved reputations for 
unreliability and low safety stan- 
dards, are the carriers travelers 
love to bate. Indeed, many voy- 
agers opt for circuitous — and 
expensive — routes on Western 
carriers to avoid using them. 

However, a recent move by 
Swissair and Austrian Airlines to 
pay $9 million for a stake of 18.4 
percent in Ukrainian International 
Airlines is the latest sign of a turn- 
around in their fortunes. 

Carriers in the former Soviet 
Republics are upgrading then- 
fleets and looking for Western 
par t n er s . 

Seeking to build strategic al- 
liances, some Western airlines 
have been happy to take them 
aboard. Scandinavian Airlines 
System has a stake in Latvia-based 
Air Baltic, and Maersk Air A/S of 
Denmark bought control of Es- 
tonian Airlines in September, 
trumping a bid by SAS. 

“Onraitn istnh iriTd this«rrtmf> np 

to Western standards.” said Botge 
Tbocnbedc, managing director of 
Estonian Airlines, which only last 
month stopped using its relatively 
inefficient Soviet-built Yak aircraft 

Mr. Thom beck adfniftwH that it 
would not be easy to steer the 
former state airline to profitability. 
Staff ratios at Estonian Airlines, 
which sta rted life as die Estonian 
part of Aeroflot, are stiQ high by 
int w n a ti n n aT standards. Its losses 
this year are expected to top a short- 


fall last year of 28 million Esto nian 
kroon ($23 million). 

“Hopefully we will begin to see 
some profit by 1998, although 
there is a lot of work to be done,” 
Mr. Tbombeck said. On the pos- 
itive side, passenger volume is 
picking up after dropping to a 
quarter of the 1991 level of 
800,000 a year, and on many of its 
most profitable routes — such as 
Paris and London — Estonian Air 
still faces no competition. 

The same cannot be said for 
Ukrainian International which, 
with the growing appeal of Kiev as 
a business destination, faces com- 
petition from Lufthansa AG and 
British Airways PLC on its more 
profitable routes. 

The government currently holds 
a majority stake in Ukrainian In- 
ternational GPA Group PLC, an 
Irish aircraft leasing company, has 
a 13 percent stake in the airline, 
which has had to continually as- 
sure customers it is distinct from 
its competitor. Air Ukraine, which 
is another state-controlled carrier. 

“From the start, we’ve had to 
redress perceptions of low safety 
standards ana poor sendee.” said 
Richard Crcagh, the director of 
Ukrainian International The link 
with Swissair and Austrian Airlines 
should resolve this. It will also tie 
Ukrainian International into key 
European and trans- Atlantic routes 
— and bring much needed capital. 
After a rough start prospects for the 
airline are looking comparatively 
healthy: The company expects a 
profit of $2 million for 1996, almost 
hide last year's figure. 

While Western airlines are in- 


creasingly welcome in the former 
Soviet Union as potential partners 
or owners, governments have been 
unwilling to play a passive role. 

When a 66 percent stake in Es- 
tonian Air was up for sale, other 
airlines expressed interest, most 
notably SAS, which offered more 
than the 60 million kroon ($4.9 
million) paid by Maersk and its 
Estonian partner, Baltic Creco In- 
vestment The Estonian govern- 
ment opted for Maersk because it 
promised to invest in Estonian Air 
and develop it in its own right, 
rather than absorb it, as the gov- 
ernment feared SAS would do. 

Western analysts said buying 
into airlines such as Estonian and 
Ukrainian — while attractive in 
the long term — carries consid- 
erable short-term risk. Precedents 
provide little reassurance: Air 
France’s ill-fated purchase of a 
stake in Czech Airlines ended with 
Prague buying the stake back amid 
mutual recriminations as to why 
the partnership collapsed. Even 
British Airways — Europe's most 
profitable airline — came unstuck 
when its planned Air Russia ven- 
ture failed to fly. 

“Getting involved at this early 
stage is understandable, ten given 
the dismal record, shareholder risk 
is considerable,” said Chris 
Avery, an analyst with Banque 
Paribas in London. He suggested 
that the biggest concerns were an 
uncertain, often changing legal en- 
vironment and differing business 
cultures. 

“These investments are being 
made by airlines which have yet to 
get their fingers binned. ’ ’ 


»— AT 

2650 — 

asoyv- — 

2450 a s cTn" 

1996 


4100 — — A - 

4fl»- 

3900 y]/Y~¥ - 

3800 f 

3700 . 

3600 AS ON D J 
1996 1997 



'A S O N O J • 
1996 1997 

Prew.V 


Spain to Sell Its Stake in Telefonica 


Cabled bjOm-S* 4 [Fma D is patches 

MADRID — Spain presented a 
share offer for 21.01 percent of the 
telecommunications operator Tele- 
fonica de Espana SA with a max- 
imum of 196.74 millio n shares, the 
national stock market commission 
said Friday. 

The state, which is offering 20.9 
percent through its holding com- 
pany Sodedad EstataJ de Parti cipa- 
ciones Patrimoniales SA, and an- 
other 0.1 1 percent through its main 
holding company, still has to set die 
final number and price of the shares, 
the commission said. 

Retail investors will get a 4 per- 
cent discount off the market ref- 
erence price and one free share for 
every 20 as a “loyalty bonus.” 

. The special tranche for employ- 


ees or pensioners of Telefonica and 
its majority-owned subsidiaries 
may cany added incentives, which 
wffi be spelled out when details of 
the share offer are made public. A 
certain number of shares will be set 
aside in case the offer is oversub- 
scribed. 

No date* were given for the sale, 
but die holding company is planning 
to open an information office for 
potential investors from Jan. 20 
through Feb. 14. 

It said the offer would consist of 
various tranches, both domestic and 
foreign, and would be offered to 
both retail and institutional in- 
vestors. ... 

The exact size of each tranche 
would be decided by Sociedad Es- 
tatal de Parti cipaci ones Pauimo- 


niales. the commission said. 

Global coordinators for the sale 
are Argentaria, Banco Bilbao de 
Vizcaya. La Caixa and Morgan 
Stanley. 

Domestic directors for the insti- 
tutional tranche are Argentaria. 
BBV, La Caixa, Banco Central Hjs- 
pano-BCH and Banco Santander, 
with Caja de Madrid joining the 
group for the retail tranche. Banco 
Exterior de Espana-BEX will be 
named as the agent bank managing 
the offer. 

The Argentaria unit of Banco Ex- 
terior de Espana SA has been named 
as agent bank for the placement, the 
commission added. 

The government cleared the pri- 
vatization of its remaining stake in 
Telefonica Dec. 30. (Reuters. APX) 


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zjstZAf' g,4agj2ft"- jggff 

>> r i < -tor , iy ^o^ 

'• -t 2512.14 

Source; Tefekurs Internal (Oral Herald Tribune 

Very briefly; 

•The Frankfurt state prosecutors’ office said it would 
announce de tails Monday of an investigation into allegations 
that die real-estate tycoon Juergen Schneider had committed 
fraud during die collapse in 1994 of his property empire under 
debts of more than 5 billion Deutsche marks ($332 billion). 

• Banco Central Hispano SA of Spain has sold its 3 percent 
stake in Bouygues SA, the French construction conglomerate, 
for about 15 tnllion pesetas ($1 143 million). 

• CeBnel a British mobile telephone company dial is owned 
jointly by British Telecommunications PLC and Securicor 
Group PLC, reported strong growth in its subscriber base, 
with 2.68 million customers at die end of 1996, up from 2.3 
million a year earlier. 

• Azerbaijan began pumping Caspian oil through a pipeline 
running from Baku to the Russian Black Sea port of No- 
vorossiysk. a savor manager of the Azerbaijani state oil 
company told the Itar-Tass news agency. 

• Compagnie Generate des Eaux SA, one of France’s 
biggest utilities, said it had reduced its debt by 4 billion French 
francs ($767.8 million) in 1996, to 48 billion francs, as asset 
sales far outpaced its expectations. 

• Credit Lyonnais SA. France’s troubled state-owned bank, 
has submitted its latest restructuring plan to the government, a 
Finance Ministry official said. The plan will pave the way for 
die bank’s third state-led bailout in as many years, ami is 
designed to prepare it for sale. 

• Turkey is planning to speed up its privatization program in 
1 997. Doxity Prime Minister Tansu Ciller said. She said Turkey 
would sell two cement factories, a refractor and a ceramics plant, 
as well as 30-year leases on eight ports this month. 

• Xabier de Irala. chairman of Iberia Airlines, warned 
employees that Iberia was lagging behind other airlines and 
that this financial year's estimated profit of 3 billion pesetas 
($22.8 million) would prove to be a “mirage” if production 
was not improved. 

• Biora AB. a Swedish biotechnology company, said it would 
seek to list its stock in Stockholm and on the Nasdaq in New 
York City. 

• Christian Blanc, chairman of Air France, said the airline 

would cut costs by 15 percent over the next three years to stay 
competitive with its European rivals. He did not say where the 
savings would come from. Reuters. AFP. Bloomberg. AP 

















PAGE 12 


4 P-<«- Close 

Th& Associated eeCTWWa 


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ASIA/PACIFIC 


A Growing Middle Class Underpins Jakarta Stocks 


By Michael -Richardson 

Jalematumil Herald Tribute 

JAKARTA — Strong economic growth 
forecast for Indonesia in 1997 along with a 
projected increase in exports arid lower in- 

flanrm an> lilrulii tnnnnt. - _ . ■«- _ _ 


boQs to dove the maricet up. Forei g ners shook] 
ride the local investor wave." 

Until recently, foreign institutional in- 
vestors and wealthy ethnic Qtinese, who fuiw 
a small hot economically powerful minority 
in Indonesia, have dominated trading an die 
Jakarta ex- 


lingenng investor concerns about posable 
instability when President Suharto, the 
country’s aging ruler, leaves the scene. 

The benchmark composite index of die 
Jakarta Stock Exchange ended 1996 at 
637.43 points — up 24 percent for they ear, 

IMERNATIONAL STOCKS 

with much of the gain occurring in the lad: 
quarto- as mote of Indonesia's emer ging 
middle class bought shares for die first time. 
The index jumped 1 3 percent, or 8.09 points 
on Friday, to 646.19, its highest level in 
more than six years. - 
_ Klein wort Henson Research (Asia) Pte. in 
Singapore expects economic growth of 
abom7J percent in fadooesia in 1 997, after 
adjustment for inflation, and an increase in 
corporate earnings of 24 percent. Those 
factors, Kteiriwort predicted, will help the 
Jakarta composite index reach 750 by the 
end of the year. 

“We believe growing local in v e stor par- 
ticipation deepens and strengthens the stock 
market,” said Hugh Peyman, Klein wort’s 
head of strategy and economics. “The next 12 
months is likely to see a fnB in political activity, 
while the economy will reman on track. This 
should provide fertile ground for 


mentions company, PT Telekomunikasi 
Indonesia, went public in late 1995. 

The local investor wave gathered further 
strength in November when PTBank Negara 
Indonesia, die first government-controlled 
bank to list its shares, offered shares priced at 
just 850 rupiah 


| Jakarta Composite Index 




Now brokers 
say tfaar domestic 
Indonesian in- 
vestors, including 
increasing num- 
bers of profes- 
sionals, owners of 
small - and XDedi- 
um-sized busi- 
nesses, and others 
in the mwirffe 
class, are invest- 
ing in stocks. 

Deregulation 
of Indonesia’s 

economy since the 1980s has spurred a wide 
range of business activity. As a result, the 
middle class, defined in Indonesia as those 
with an annual income of between $6,000 
and $12,000, has grown and now comprises 
about 17 million people oat of a population 
of 190 million. 

* ‘The rate of change in Indonesian society 
has major economic implications,” said an 
Indonesian banker. “In the early 1990s, the 
middle class consisted almost entirely of 6 
milli on ethnic Chinese.” 

Brokers began to notice the entry of sig- 
nificant numbers of new indmraian in- 
vestors when the state-owned telecommu- 



(36 cents). 

PT Bank 
Negara was 
oversubscribed 
almost 45 times 
as middle-class 
buyers 

scrambled to se- 
cure shares, 
brokers said. 

David Chang, 
research director 
at PT Vickers 
Balias Tamara, 
said the Jakarta 

lUOTdicaa] HoaldTntaar stoc ]^ market 

should benefit in 1997 from reduced interest 
rates as well as strong macroeconomic fun- 
damentals, despite some concern about the 
possible impact of legislative elections in 
May and a presidential poll in 1998. Mr. 
Suharto, 75, has been in power since 1965 
and has no obvious successor. 

Ginandjar Kartasasmha, Indonesia’s 
minister for national development planning, 
last week forecast a 1997 economic growth 
rate of 7.9 percent, up from an estimated 7.6 
percent for 1996, but down from the 8.1 
percent growth recorded in 1 995. when con- 
cerns about overheating emerged. 

Separately, Tunky Ariwibowo, the min- 


ister for trade and industry, said that there 
would be a substantial improvement in the 
country's export performance this year, 
while demand for imports would slow. 

Mr. Suharto, who will present the annual 
budget next week, said Tuesday that in- 
flation for 1996 would be about 6.7 percent, 
down from 8.6 percent for 1995. 

■ Budget to Address Trade Gap 

President Suharto is expected to unveil a 
budget on Monday aimed at stemming the 
growth of Indonesia’s current-account de- 
ficit, investors and analysts said, according 
to a Bloomberg Business News dispatch 
from Jakarta. 

In the six months ended Sept. 30, Indone- 
sia’s current-account deficit widened to $452 
billion . a 1 5 percent jump from die same period 
a year earlier. The current account is the broad- 
est measure of a country's trade. 

Mr. Suharto has said the current-account 
deficit, at 33 percent of gross domestic 
product, is too large. 

“It's a major worry,” said Manmindar 
Singh, who tracks Indonesia for Nomura 
Research Institute (Singapore) Pte. “The 
economy has the potential to overheat” 

To avoid that, Indonesia is likely to move 
to reduce its dependence on imported ser- 
vices and take measures to encourage people 
to save more. 

The budget could include measures to 
make Indonesian ports more attractive, 
which would increase the flow of money 
into the country , analysis said. Higher sav- 
ings rates, in turn, are aimed at dampening 
demand for imported luxury goods. 


Hutchison Decries 
Move to Rebid Subic 


1997 Voted Year of the Ringgit 

Analysts See Malaysia’s Currency as Best Buy in Asia 


CufM tp OySufFium ne a ubrj 

MANILA — The winning bid- 
der for a contract to operate a 
container terminal at a former 


Hutchison Ports Philippines is a 
joint venture between Guoco 
Holdings Philippines foe. and 
Hutchison Tntwrna ri nnfll Ports 


/tenters 

SINGAPORE — The Malaysian 
ringgit is foe favored Asian currency 
to buy in 1997, followed closely by 


prospects for a change in the foreign 
exchange rate regime in Indonesia. 
The Indonesian government cur- 
rently limits the rupiah to a narrow 


U.S. naval base said Friday that a Holdings Ltd, a unit of Hong 


the Indonesian rupiah, according to a trading range against the dollar, 
survey of financial institutions in LDiLA. said London analysts 


decision to rebid the contract sent 
a “dreadful signal” to potential 
investors in die Philippines. 

On Thursday, President Fidel 


Kong's Hutchison Whampoa Lid. 

John Meredith, group man- 
aging director of Hutchison In- 
ternational Ports, said Mr. 


survey of finandal institutions in 
Singapore and London released Fri- 
day by the Institute for the DeveJ- 


expected Indonesia to widen the 
permitted trading band for dollar- 


Ramos of the Philippines ordered Ramos’s decision to rebid the pro- 
the Subic Bay Metropolitan An- ject sent a bad signal to investors 
thority not to award the 25-year about doing business in the Phil- 
con tract to Hutchison Ports Phil- ippines and could discourage for- 
ippines Ltd., which had been de- eign investments that the country 
clared the winning bidder in Au- badly needed. Aides of Mr. 
gust fay the authority. Subic, a Ramos said the decision was in- 
former U.S. base 80 kilometers tended to level the playing field 
(50 miles) west of Manila, has far anyone doing business in the 


been converted into an industrial Philippines. 

and tourist ceoter. . Mr. Meredith said his company. 

The authority originally de- might go to conn to question the 
tided to disqualify International president’s order or just drop the 
Container Terminal Services project altogether. 

Inc.’s higher bid due to a rule that Meanwhile, International Con- 


Container Terminal Services 
Inc.’s higher bid due to aiule that 
prohibited it from operating two 


independent consulting group. 

“Malaysian fundamentals con- 
tinue strong and indeed the ringgit 
outlook for the end of the first half of 
1997 looks biased to 249” ringgit 
to (he dollar, the consulting firm, 
known as LDJEA, said. 

For the end of 1997, respondents 
forecast the dollar would be worth 
250 ringgit. 

The dollar now trades at more 
than 252 ringgit. 

However, LDJLA. said there was 
a more marked preference for the 
ringgit in Singapore than in London, 


1997, with a projection for the spot 
currency value of the dollar at 2,400 
rupiah by the midrib* of 1997. 

The consulting firm said Asian- 
based traders expected the band to 

ASIAN MONEY MARKETS" 

widen in the second quarter of 1 997, 
and forecast a dollar spot rate in the 
first quarter of about 2,409 rupiah. 

On Friday, the dollar traded at 
around 2362 rupiah. 

In addition, London players were 
more uncertain about future levels 


whb British operators favoring the for the Thai baht than wererespond- 


tainer Terminal Services said it 


Philippme ports. That company would submit a new bid to run the 
already operates Manila's coo- port, prompting the brokerage 
tamer port But Mr. Ramos Angping & Associates Securities 
aittered a review because that de- Inc. to put out a “buy” rccom- 
tirion threatened to cost the gov- mendahon on the company’s 
eminent considerable revenue. shares. (AP, Bloomberg) 


(AP, Bloomberg) 


Indonesian rupiah. 

David Lewis, head of research in 
Asia for LD-EA, said the company 
surveyed about 75 financial insti- 
tutions around Southeast Asia and 
in London and New York. 

The survey found a difference in 
views in London and Asia on the 


entsin Asia. IJDJELA. said this could 
be due to greater fears among off- 
shore players of a major policy 
change in Thailand. 

“The million-dollar question 
here is whether exports will pick up 
and. if they do, will this be enough to 
ldck-start the economy.” the ana- 


NUCLEAR: Who WillPay for Costly Plants? SWEDEN: Takeover Rumors Lift Bank Shares 


Continued from Page 9 fries several years to recoup 

their investments from con- 
badly punished on Wall sumers. Typically, they have 
Street if the transition comes softened the sting with related 
too quickly and shareholders measures foal residtm freezes 
are asked to pick up more of or even reductions in overall 
the tab, mtbefonn of reduced rates, 
profits and dividends. What happens in mostof 

Consumer groups and die United Steles, though, is a 


ities several years to recoup for competitors in a dereg- 
ttofr investments from con- nhH mary^t- 


Con turned from Page 9 


sumers. Typically, they have Com Ed’s nuclear portfolio was n 

softened the sting wife related is efficient enough that the fog 
measures that resuitin freezes excess energy it produces cm ““JJS 
or even reductions in overall weekends is easily sold on the Ti 

rates. open market But sane of 

What happens in most of Com Ed’s plants are among 
tiie United Stales, though, is a fog worst performers in the 


was mostly interested in buy- 
ing high-growth, foreign 


“This just doesn’t make 
sense,” said Gunar An- 
dersson. an analyst with Han- 
delsbanken Markets in Stock- 
holm. “NcmJbanken is not 


said that fat profit margins 
caused by falling interest 
rales, plus signs of a quick- 
ening in foe pace of Swedish 
bank mergers, drove Nord- 
bankea's share price up by 
more than 70 percent in foe 
second half of the year. 


t margins Norribanken the cheapest bank 
; interest share in Europe. ' 
t a quick- This reflects foe near total 
f Swedish collapse of foe Swedish bank- 
ive Nord- ing industry in the last re- 
ice up by cession. At that time foe stare 
ent in foe bought wbar was left ofNord- 
/ear. banken and saved it by in- 


Wirh its shares still selling jecting a massive infusion of 


some nonnuclear " utilities question tins year in state le- industry, others free huge "worooankai is not ailess than seven times ex- 

mishine for a much Quicker ridatnres and oublic utility 3 outside Sweden, and it is not pected earnings tins year. 


pushing for a much quicker 
transition say that forcing 
consumers to cantinne paying 


gjslamres and public utility novation expenses 


commissions. Those de- 
cisions may in turn hinge on 


rates must cover accumulated 


in a high-growth sector. ” 
Others added a third draw- 


however, one analyst called 


tains of ba 
arace unit. 


placing its moun- 
debt into a sep- 


for plants they are not using whether Congress and federal 
w HI give electricity users agencies like foe Nuclear 


debts of more than $10 bil- — corporate culture. SE 



fk>r®1Cnog^ •.= Hang Seng 13^22,79 13.203.44 +0.1$ 



lysis said. 

In terms of political risk, the sur- 
vey found that banks did not gen- 
erally regard Hong Kong as the most 
uncertain place in the region, despite 
the British colony's handover to 
China at the end of June. 

“That dubious honor goes to Ih- 


opment of Economic Analysis, an rupiah trading in the first half of donesia. a by-product of 1996 riots. 


parliamentary elections this year 
and presidential polls in 1998. the 
analysts said. 

[Several thousand people went on 
a burning and looting rampage in the 
Indonesian state of Kalimantan on 
Thursday, the J akar ta Post reported, 
citing an unidentified source. The 
unrest was centered in the district of 
Sanggau Ledo in the west of Ka- 
limantan, Bloomberg Business 
News reported.] 

Respondents picked the Philip- 
pine peso as the currency most likely 
to rise to prominence in 1997. 

“Both centers favor foe peso to 
become more important in terms of 
forex trade this year,” LD.EA 
said. 

Other currencies mentioned by 
survey respondents as rising in 
prominence in 1997 were the 
Chinese yuan, the Taiwan dollar and 
the South Korean won. 


Source: Telekurs LnicnulionJ Herald Tribune 

Very briefly; 

• South Korea's trade deficit doubled to a record $20.38 
billion last year as slumping semiconductor prices pummeled 
leading exporters such as Samsung Electronics Co., which 
accounts for 1 1 percent of exports, the Ministry of Trade and 
Industry said. The ministry said that strikes . which started on 
Dec. 26, have so far cost South Korea 5250 million in lost 
exports and threatened to prolong the export slide. On Friday, 
foe country's autoworkers continued to strike, but workers at 
shipyards returned to work. 

• Philippine exports in November rose to $1.85 billion, up 
29.8 percent from the same period last year. It was the fastest 
growth rate in 1 996 and the government cited a rebound in 
global demand for electronics. 

• Aircraft manufacturers in Europe and the United States 
delivered 31 passenger planes to China in 1 996 and more than 
40 orders are on the books, according to the China Daily. Of 
the deliveries, 21 came from Boeing Co., while seven were 
supplied by Airbus Industrie. Three came from McDonnell 
Douglas Corp. 

■ Asea Brown Boveri Ltd., the Swiss-Swedish engineering 
conglomerate, is taking a 45 percent stake in a power project in 
Madras valued at 41.9 billion rupees ($1.17 billion). The 
Economic Times newspaper reported Friday. 

• Hong Kong & Shanghai Banking Corp., Citibank, Bank 
Tokyo-Mitsubishi, and Industrial Bank of Japan, which 
were selected by foe Chinese government for trial currency 
operations, will not be able to begin doing business im- 
mediately because working procedures are still unclear, ac- 
cording to foe Business News daily. 

• An Feng Steel Co. of Taiwan and Kingstream Resources 
of Penh, Australia, announced plans to merge. The new 
company would be foe second Australia-based corporation, 
after Broken Hill Pty., to cover all stages of steel production 
from mining to manufacturing. 

• Siemens AG said it planned to increase its investments in 

Malaysia by 13 billion ringgit ($514.5 million) to 3 billion 
ringgit by 2000. Bloomberg. AFP. AP 

Hanoi Revokes Permit 
Held by U.S. Developer 

Reuters 

HANOI — Vietnam has withdrawn an American de- 
veloper’s license to build a luxury holiday resort at the 
fabled China Beach after the company failed to make an 
initial deposit, foe Ministry of Planning and Investment 
said Friday. 

BBI Investment Group, based in Maryland, was awar- 
ded a license for the $243 million project, one of foe 
largest foreign-backed joint ventures in Vietnam, almost 
two years ago. __ 

■ But BBI and its local partner — Non Nuoc Tourist Co. 

— never got further than a groundbreaking ceremony at 
the beach, a former rest and recreation area for U.S. 
soldiers during the Vietnam War, because of a dispute 
over funding. 

BBI’s president, Robert Bernstein, said last month that 
be was unwilling to put more money into the project 
without certain assurances from Vietnamese officials, but 
he did not specify the criteria for continued financing. 

A ministry official said BBI had broken contract re- 
quirements by failing to lodge an initial deposit of $2 million 
and by failing to secure a loan for the whole project. 


choices bat no real savings. 

Taxpayers may well be 
nicked, in the crossfire; util- 
ities are pushing for tax 
breaks to give foam more fi- 
nancial flexibility in catting 
rates. 

With more than 100 nn- 
^ clear plants from Maine to 
Calif opua generating nearly a 


in foe United Steles, every 
region has a stake in the out- 


Utilitles say 
consumers, even 
those who defect 
to competitors, 
should pick up 
the (ah. 

Regulatory Commission 


lion. 

Com Ed says it welcomes 
competition tat deserves 


Banken has long enjoyed the 
status of foe favored financial 
intennediaiy of Sweden’s es- 


CllvRFNCY AND CAPITAL MARKET SERVICES 


time and finandal breaks to tabhshmenL Its traditional cli- 


prepare for iL 

In a deregulation proposal 
backed by Com Ed, like many 


ents include such ocher car- 
go rate lights from the 

Wallenberg empire as LM 


proposals around the narinn Ericsson AB, Electrolux AB, 
supported by high-cost util- and Astra AB, foe pharmaceur- 


ities, the t rans ition period to company. In contrast, 

open competition stretches Nardbaukenbejpn its exist- 


into the next century. 

Some of foe arguments for 


Regulatory Dammssiop mov jng cautiously are tech- 
wagh m with piles of thdr — new billing systems 


ence as Sweden s post office 
bank and retains a focus on 
retail banking. 

But foe Wallenbergs have 


come. Vermont got a!most80 ^ nical - new Wiling systems */£££ £ 'EJ’S&b N es 

oneoed tocamperitionT^' terted, forexample fers contain 12.4 biffioo kronor 

m^^jurtunto70pM^ debate ^ Moreover it is still unctear from foe sale last year of half 

and New Jersey an d Sou th wsspo rugrn fr° w ^ system that of toe trockmaker Scania AB. 

Carolina almost two-thuds. . . will remain regulated, like Analysts estimate that foe 



OUTSTANDING A na/ys/s for AU Major Markets 
EXCEPTIONAL Exec uti'on Forex or Futures 
COMMISSION Spot FX2-S Pip Price Spreads 


SUPERIOR Selection of Managed Accounts 
FREE Trading Softwares, Data 

COMMISSION Futures $ 1 2-S36 PerR/T 


kronor 

The spofoStfofoe debate . Moreover, it is still unclear from foe sate last year of half 
iy soon shift to northern how parts of foe that of foe trockmaker Scania AB. 


Peter G.Catranis 
Forex & Futures Specialist 


Australia 1 8001 25944 Sr^iwuOSOOl 5B80 Btrmuda 18008784178 Brazil 00081 1921 551 3 Colombia 980120837 

Cyprus 08090605 Denmark 80016132 Hrr/earfOBOOl 11 0084 frame 0800902246 tree. 1 00800119213013 

Gems oj- 01 30829666 Kenf ; 8007209 IrrfanJl B00559294 Israel 1771000102 ;«/r1 67875928 

Japan 0031126609 Korea 0038110243 Luxembourg 0 8004552 Mexico 958008784t76 \rt hr Hands 060Z206S7 

y Antilles 18009945757 .V.gra/w/ 0800441 880 #>..rM W «f05011Z632 Singapore 8001 202501 V J/ri,-„DBQ099G337 

Spain 90093 1007 Sweden 020793158 Svinrrland 0800897233tW«h/ 001800119230666 Terlep- 00800139219013 

( -'ii itrd Kingdom 0 800966632 1800994S7S7 US-Toll I 'vicr *714-376-8020 VS- Toll Fax *7 14-376-8025 


SE*tair.r b=: ^ 

sr^ ma sx swn 

electricity c^umcrs IW S- mSX argue 


hook for nudear investments 
by utilities that look waste- 
fitlly expensive in hindsight- 
A handful of states, includ- 
ing California . and 
P ennsy lvania, have already 


ctostry’s largest and most ex- 
perienced unclear-power 
generator. 

Com Ed charges customers 
up to 60 percent more than 
utilitie s in neighboring stares. 


ill remain regulated, like Analysts pgtimwtft that the 
og-di stance transmission government’s 25 percent of 
tes, will be managed. Nordbanken. out of its total 

But the utilities also argue holding of 59 percent would' 


adopted roles that give ntfl- making it an obvious target lfablepower. 


unclear-power that customers should not be cost Investor around 10 bil- 
allowed to dude paying for Hon kronor, 
rges customers foe existing plants and other ft would have cost far less 
ent more ih«n assets like huge transmission six months ago. Mikael Gar- 
hboring stares, systems built to provide re- fom, a banking ^yst for 
term* lipM* tvwu«- Ohman brokers in Stockholm 


ApyiarrwaiBvr 

ASAmOFDCAK, LIB. 

(CDB*) 

The tm&rtigncd «iBOiincec.tiiat 
the Asnsal Report 1996 of Asaid 
0pdeat,LTD.«i8bcavtiteUeiu 
Amato dim it: 

ABN AMRO Bank N.Y, 
-MEESP1ESSON N.V, 
KAS-ASSOCTATTEPlY^ 

ASfSfHQMHDEPQSDEAN 
COMPANY N-V. 

Amstatianv December 30, 1996 


ADVEgnSEMEWT 

IBTACIf, LTD 

(CPRb) 


announces tbit 


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PAGE 14 


Friday’s 4 p.m. 

The 1 .000 most-traded Nations! MarVat securittas 
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Time to Take Stock of Your Goals 

Make a New Year’s Plan to Retire With $1 Million 


I. Where You Are Now 


By Judith Rehak 

I S IT WORTH $100 a month to yon 
to have a good chance of retiring as 
a millionaire? If yon me a 25-year- 
old working person, that is all it 
would take, assuming the financial mar- 
kets behave dating yens' career as they 
have done far most of this century. 
' Inflation may wdd reduce the purchas- 
ing power of that $1 million over the 
next 40 years, but that snm remains a 
compelling number for investors who 
want to ensure a secure retirement ■ 
The start of a new year is a good time 
to assess your financial position and to 
j yn ake a plan, if you do not already have 
. .one, to achieve your economic 
i __ Financial advisers emphasized that it 
is important to take a hard look at where 
you are — and where yon are headed — 
while the year is still young. 

Why bother? 

“It's a reality check," said Lewis 
Altfest, a financial adviser in New York. 
“By totaling things up, you see how 
you're progressing. From a savings 
standpoint, it’s important because a lot 
of people start saving, .but them poll out 
and don'tknow where they’re at, or they 
know deep down that they haven’t put in 
foe resources they should have." 

“From an investment standpoint," 
he added, “you need to know if you’re 
doing well according to a benchmark, 
not necessarily the Standard & Poor’s 
500, but perhaps a bond index or a 
'_7 blend.’’ — 

Not surprisingly, it is a task that in- 
vites procrastination. To help you bile 
the bmlet. take a look at the work sheets, 
.charts, formulas and advice from pro- 
" sjessionals on these pages. The approach 
is international, although it draws heav- 
ily on research done on the American 
markets. 

Many nf ftnanrial p lanning , 

however, are globaL Families around 
the work! often have the bulk of foeir net 
worth tied np in their homes, and in- 
vestors everywhere hope to profit from 
owning securities, be they Japanese 
homemakers who hold the family purse 
strings, Germans who load np on bands 
at the bank or' Americans who phone 
their discount broker to buy the latest 
hot mutual fond. 

T HE-- FIRST step in setting and - 
fulfilling your objectives, the spe- 
cialists say, is to figure out bow 
- much you are worth. - - 

To get an assessment, fill out Table L 
Then, fin in the bl aides on Table Q, 
which will tell you how much cash you 
have left each mouth to work with to- 
ward a financial goal 
Once you know where you stand fi- 
\ nandally, you can move on to youf 
£* objectives. Financial goals also haveja 
certain universality: a new car, a down- 


payment on a house or apartment, build- 
ing an estate to leave to your children, 
ensuring a comfortable old age. 

To help in setting priorities, review 
Table in, which is adapted from Ernst & 
Young's “Personal Financial Planning 
Guide. *’ 

Setting jgoals, and doing so as early as 
possible, is one of the most important 
aspects of financial planning, said Bar- 
bara Raasch, a co-author of the guide 
and a partner in personal financial coun- 
seling at Ernst & Young. 

4 ‘If you don’t, you never accomplish 
as much," Ms. Raasch said “Don't 
say. There's no way I can do it’ How 
hard would it be to save $10 a week?" 

Of course, your age and income will 
affect your priorities. People who have 
had the good fortune to have inherited 
wealth or have incomes far above av- 
erage wifi find it easier to attain goals. 

But more typically, a young couple 
might be saving for a new car or a home, 
while someone in foeir 50s would be 
more focused on building an investment 
portfolio to produce income for retire- 
ment. 

The Ernst & Young guide suggests 
using a. “1” for tire most important 
objective, “2” for the next most im- 
portant, and so on, for each time 


and you are starting from zero. To find 
out bow much you must save each 
month to reach your objective, go to foe 
five-year line on Table VL which gives 
you an idea of what you need to put 
away over different periods of time, at 
different investment rates of return, to 
accumulate $1,000. 

At tire median return of 8 percent, you 
will have to sock away $1 3.62 monthly, 
multiplied by 50. or $681 a month, to 
accumulate the desired sum. , 

The monthly bite will be dramatically 
less if you have* already managed to 
stash away, say, $15,000 of your 
$50,000 objective. 

To find out bow much that $15,000 
will grow, go to the five-year line of 
Table V, at an investment rate of 8 
percent, where you will find tire mul- 
tiplier 1.469. Your $15,000 will have 
grown to $22,035, and when foal is 
deducted from your objective of 
$50,000 will leave you to come up with 
only $27,965 or roughly $381 a month, 
instead of $681. 

The formula in this example works 
with any currency. 


A LSO INCLUDED is a chart that 
addresses one of the most wide- 
spread objectives in financial 
planning: saving wad investing for re- 
tirement. Would you like to be worth a 
cool $1 million by foe time you retire at 

Continued on Page 17 


Suppose you want to accumulate the 
down payment for a home you plan to 
buy five years from now. 

You figure you will need $50,000. 







P 






Cash and equivalents 

Chocking accounts and money-market funds 

Savings accounts 

Cash value of life insurance 

investments 

Stocks 

Bonds 

Mutual Funds 

Equity interest in a business 

Company pension plan 

Individual retirement plan 

Government pension plan 

Profit sharing 

Loans owed to you 

Real estate (estimated current market value) 

Residence 

Vacation or second home 

Other properties 

Personal property (estimated current market value) 

Household furnishings 

Car 

Jewelry, furs 

Antiques, art, coBections. etc. 

TOTAL ASSETS 

Liabilities 

Credtt card balances 

Charge account balances 

Utilities 

Auto Joans 

Mortgage on primary residence 

Mortgage on vacation property 

Personal loans 

Life insurance loans 

Other 

TOTAL LIABILITIES 


lOW^SGeiS.." 

SUBTRACT 
■. TOTAL 

yotmNEtwomH 


*. v , ; s ■ 'fir:.. 

1 ■ ■ . V-'l. 


III. Specific Financial Goals 


Education expenses 
Debt reduction 
Buy a house 

Make home improvements 
Buy a car 

Any other large purchases 
(e.g. boat, plane, art) 

Take a dream vacation 
Buy a vacation home 
Retirement/Financial independence 
Have children 
Increase level of 
charitable giving 
Buy a retirement home 
Provide for survivor in event 
of my death 
Start a business 
Other 
Other 
Other 


Short term 
(1 year) 


Total bwome 


I II. Income 


Salary 

Rental Income 
Other 


I Expenses 


Mortgage or rent 

Income taxes 

Social charges 

Alimony, chBd support 

InstaBment ad crecSt card payments 


Legal and accouitants fees 
Food 


A" si - , . ... 
fc. ' y. 



Medium term 
(5 yrs.) 

J <, 


«<* xy , tl .. r ‘**ter ** 

iw t-r ii' 

vNri; 

* t !■ ... ' '• <■ 


Longterm 

(lOyra.) 


' .V .• N -• 

. v . 


at term 
yrs.) 


• s ... ■ ' » . , • 

* •'{ • : 

"'■i’k. 

j _ • , , -* / , n ■- 

" • - * ,Y 

•y .i , •- 

V „ ' * / . • ■'t 

' a 5 " ' 


Muftipty the price of your (mended purchase by the appropriate number 


Years 

1 

5 

10 

30 


2% 

>*#&'£ 


Inflation Rates 
4% $ 

i.o4o 
1217 

1.480 =&& 

3243 


V. Growth 


Multiply your current savings by the appropriate number to see how much they 
wtil grow over time 


Savings 


Savings per month needed to have 1,000 units of your currency 


Soutok tottxron Amactaaw 


Investment 

Rate 

4% 

8% 

12% 



Years to save 
5 10 

1217 .-itflBft 

1.469 .Z1W" 

1.762 ^10$; 


30 

3243 

10.063 

29.960 


In a Random Universe, the Case Against Funds 

F OR THE THIRD year in a row. Why? My theory is that fond man- attacks, but gives them, mutual funds mutual funds, out of the i 
fewer than one-fourth of U.S. agers do not operate tire way intelligent do not get tax biDs, they give them to 10,000 that currently pet 
stock m f*"* 1 foods beat the investors can because they have dif- their shareholders. wares, might fail. 

Standard & Poor’s 500 index, ferent incentives. The biggest problem When you invest in a mutual fond. Fan and Education. O 
■ Once a gain, vast majority of pro- 
fessionals who are paid to choose the 
best stocks could not beat the broad 


Tlii&ycar’s failure — the ninth in the 
past 1 3 years, according to Lrpper Ara- 
fytical Services Inc. — brings to mind a 
famous quotation from “A Random 
Walk Down Wall Street” by Barton 
Malfciet “A blindfolded monkey 
throwing darts at a newspaper’s fi- 
nancial pages could select a portfolio 
that would do just as well as one care- 
fully selected by foe experts.” 

Probably better! Only 16-5 percent 
' of general equity mutual funds bear the 
SAP through Dec. 26, Upper reported. 
In 1995, the figure was 15.0 percent 
It is a l on g-running tre nd . Over the 
-past 10 years, the S&P index has re- 
. turned 312 percent, while the average 
domestic-stock fund tracked by Mom- 
ingstarlnc. b3S returned 246 percent 
Statistics like these malm me won- 
der Who needs mutual funds, any- 
way? Some people do, but I wait to 
nuue foe case against mutual funds — _ 

and it is not hard to do: 

Poor Performance. The numbers. 
. above teH only part of foe tale. Mcffn- 
■ in gBar di > wi fo»c the 2269 U.S. stoc k 
funds in nftre categories (large-stock 
growth, small-stock value, etc./, ana 
; not one of them beat foe SAP inde^> a 
’ simple measure of 500 

rand i ^b w g r iT^ 1 ™ not stupid why 
■do they do so poorly? Ohe^ reason is thaL 
• to a'seat degree, stock-picking is a 
. “random walfc” stocks are pt^so 


Why? My theory is that fond man- 
agers do not operate foe way intelligent 
investors can because they have dif- 
ferent incentives. The biggest problem 
for manag ers is that they are frantic 
rather than pabenL The typical fund had 

a turoovemte of 83 percent for stocks in 
its portfolio, according to Momingstar. 
R»r out of five stocks owned at foe start 
of tire year were sold by the end. 

Managers are mani c because they 
have to show strong short-term returns 
in order to attract or Bold antsy investors. 
They cannot buy a great underpriced 
company and wait five years for it to 
bloom, or they will lose their jobs. 


attacks, but gives them, m utual funds 
do not get tax biDs, they give them to 
their shareholders. 

When you invest in a mutual fond, 
you are at the mercy of foe fund’s 
manager for your tax liability in a given 
year. Most fond managers do not care 
about your taxes; their bonuses are de- 
termined strictly on pretax returns, and, 
after all, many investors own funds in 
tax-deferred retirement accounts. 

You pay taxes on your share of the 
net gains incurred by foe fund man- 
ager. If foe manager sells no stocks in a 
year — even though the value of the 
fund may rise 30 percent — then you 


ON INVESTING 


is me, then me typical mntnakfopd wiD 

(to abemt what the averages do.minus ns 


Managers are also forced into buy- 
ing and selling stocks because share- 
holders are continually adding or sub- 
tracting cash from foeir funds. And 
managers have to justify their salaries 
by appearing to do something. 

Over the past five years, a fond man- 

stocks in industrial av- 

erage would have registered annual re- 
turns of 18.3 percent, compared with 
16.1 percent for foe average mutual 
fund followed by Mamingstar. But such 
a manager would probably have been 
fired in his second year for not buying 
Microsoft Carp, or U-S- SutgicaL 

Finally, managers of large funds 
have to worry about owning too large a 
chunk of foe companies in winch they 
are investing. If yon own nriUions of 
sh ares, you will not be able to sell 
without pushing the price down 
sharply. Many fi“ds own huge num- 
bers of stocks, far too many to follow 
dfo'cemly- Fidelity Growth, for ex- 
ample, holds 452 companies. 

faxes. As in the joke about foe 
autocratic boss who does not get heart 


pay no tax. If foe manager sells Jots of 
stocks at a profit, keeping those in 
which he has a loss — even though the 
value of the fund may decline — then 
you get socked with a big tax bill 

You can be taxed cm gains that were 
built up before you bought into foe 
fund. For example, tbeportfolio of the 
Templeton Amaican II fund has a po- 
tential capital gains exposure of 28 per- 
cent, according to Momingstar. In ewer 
words, if you bought $1,000 worth of 
foe fund today and foe fund manager 
decided to liquidate the entire portfolio 
and buy other stocks tomorrow, you 
would be hit with a $280 tax bill. 

If you own stocks, as opposed to 
funds, you yourself can decide when 
you want to incur the taxes. 

Debacles. If the market crashes and 
investors run fra: the exits, most mutual 
fond managers will have to sell stocks in 
order to raise cash to meet foe redemp- 
tion demands of their shareholders. In 
such a debacle, smart investors will be 
buying stocks at bargain prices; mutual 
foods will not have that luxury. 

Even worse, in a true disaster, some 


mutual funds, out of the more than 
10,000 that currently peddle their 
wares, might foil. 

Fan and Education. Owning in- 
dividual stocks is more exciting and 
educational than owning mutual funds. 
You can learn about business by fol- 
lowing your companies, and you de- 
velop a warm proprietary sense about 
them. Also, when you buy a stock that 
turns out be a winner, you feel great 
Funds do not provide that kind of pleas- 
ure — and funds do not quintuple m two 
years, the way that Intel Corp. has. 

Of course, there can be a symbiosis 
between stocks and funds. One reason 
to own foods, for example, is to see 
what the managers are buying — to get 
ideas for buying stocks yourself. 

There are other reasons to buy funds. 
First you need diversification to limit 
your risk in foe market If you cannot 
choose 10 stocks in at least six different 
industries, then you should own at least 
one fund to balance foe volatility. 

Also, fond managers have expertise 
in areas foal investors do noL It is 
important for example, to own small- 
company stocks and international 
stocks (again to reduce risk through 
diversification), but choosing them is 
nearly impossible for most people. Let 
fond managers make the decisions. 

In addition, certain mutual funds 
allow you to own a broad basket of 
stocks — and thus beat most other 
mutual funds. You can't do that your- 
self. For instance. Vanguard Index 500 
owns, in proper proportion, the -500 
stocks drat make up foe SAP 500 In- 
dex. Since foe fond is “unmanaged.” 
fees arc low (02 percent), as are capital 
guns (after-tax returns are only 6 per- 
cent lower than pre-tax, Momingstar 
estimates). Index 500 has beaten a ma- 
jority of growth-and-income mutual 
funds in 11 of the past 12 years. 

Washington /’ton Service 


Investment 

Rate 

4% 

8% 

12% 




Years to save 
5 10 

15.06 

13.62 l -'SA S 

12.33 


A Calculation of Your Dreams 


W ELCOME TO 1997. To 
help you start the year off 
right financially, we have 
devised this collection of 
forms and formulas to identify goals and 
develop a program for obtaining them. 

This section will not substitute for 
professional advice, but it can provide a 
general idea of whether you are saving 
enough money to achieve your financial 
objectives. There are many variables, 
notably how foe financial mar- 
kets perform in coming years 
and the effects of inflation, so 
foe best result you can hope for 
is an indication of where you 
stand as the new year begins. 

We have excluded taxes r<m 
from many of foe calculations 
because they vary so much from country 
to country and among individuals. In foe 
return tables, provided by Ibbotscm As- 
sociates of Chicago, it is assumed that 
you reinvest dividends and interest pay- 
ments. 

It is impossible to say what rates of 
return you might achieve over foe years, 
but based on long-term results in foe 
United Stales, 4 percent is foe kind of 
return a conservative investor might ex- 
pect from a portfolio consisting largely 
of guaranteed investments such as 
short-term government securities and 
bank deposits. 

Moderate portfolios consisting of 
stocks and bonds might return 8 percent 
over time, while investors concentrating 
on equities could aim for a 12 percent 
return. (See Table VII, Page 17, for 
long-term annual returns in foe United 
States) 

Investments can consist of mutual 
funds, the actual securities or a mix. It is 
important to note that foe risk of losses 
increases with foe aggressiveness of 
your portfolio (See Table IX, Page 17), 
especially in light of foe bull markets on 
Wall Street and in other financial cen- 
ters in the last two years. 

With those warnings in mind, grab a 
cup of coffee and a pencil and start with 




7. To Table I. This will show you your net 
sar off worth, but its aim is to identify what 
: have savings you have available, nil in foe 
ion of value of your assets and liabilities in foe 
ilsand currency in which you do most of your 
them, personal business. You can use the 
te for Cross Rates table on the first page of the 
vide a daily Business/Finance section to tnuis- 
saving late values among major currencies, 
ancial Then, move on to Table IL You likely 
iables. will have to convert some of the items, 
such as your salary and taxes, 
from an annual to a monthly 
basis. To calculate your 
monthly income tax bite, you 
might take foe taxes you paid in 
1995 or 1996, divide by 12 and 
increase foe result by foe per- 
cent you expect your salary to 
juntry rise in 2997, plus one or two percentage 
In foe points because foe additional earnings 
tn As- will be taxed at foe highest rate to which 
d that you are subjecL 

it pay- You might also add a percentage 

point or two if you plan to become an 
tes of active investor to account for your in- 
years, creased income, bur some countries 
in foe give a break on some portion of such 
ind of gains. 

ht ex- Because dividends, interest and cap- 
rrgely itaJ gains are taxed differently in dif- 
:h as ferent jurisdictions, you may have to 
s and modify your investing style to max- 
imize your profits. 

Jg of 

sxcem E HONEST about how much you 

rating 1-“C spend, especially on entertain- 
srcent JLJr mem and foe like. Even 
7, for something as mundane as a couple of 
Tinted daily trips to the vending machine can 
add about $40 a month to your expenses, 
lutual Remember to include such items as 
It is monthly banking fees and the amount of 
losses interest yon pay on your consumer 
ss of debt 

e 17), When you have totaled up yoor to- 
uts on come and expenses, what is left is foe 
[ cen- amount available to invest. If you came 
up with a negative number, you may 


-• ""V--.* . .. r. * 


Continued on Page 17 







































































































































’Me** 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAV, JANUARY 4-5, 1997 


PAGE 17 


jA. sound Resolution: 
Your Financial 
House in Order for ’97 


THE MONEY REPORT 


VII. Stocks, Bonds, Bills and Inflation, 1925 -1995 


Small-Company Stocks 


$1,000.00 


Wealth Indices of investments 
in the U.S. capital markets, 
logarithmic scale 


Wall Street Expected 
To Cede Pole Position 

Other Markets Show More Promise 


Continued from Page 15 

age 65? Then check out Table vm 
which tells you how much you must 
contribute at the end of each mouth, 
based on your age now and your es- 
timated rate of return, to get there. 

■ This chart also underscores a rule of 
financial planning that is preached end- 
lessly by analysts: The earlier you start 
$aving, the less you have to put. away. 

■ It is important to note, however, ftm* 
pese figures wiB give you an approx- 
unatioru not the exact amount, of what 
you must save and invest That is be- 
cause a host of variables impact the 
accumulation of a nest egg. 

, For example, taxes are not included in 
these charts because they vary widely, 
fyoth within a country and from one 
country to another. 

I N GERMANY, for example, no 
capital-gains tax is imposed on 
profits m an equity fund after six 
months. In the United States, individual 
retirement accounts and Keogh plans 
are two ways of saving, for retirement 
(hat defer taxes until money is with- 
drawn. 

’ Inflation that can eat away at your 
savings and investment returns is an- 
other crucial factor. Yon may want to op 
your monthly savings after areview of 
Table IV, which shows what yon will 

! When you discuss 
equity investing , their 
first question is, 

“Could I lose 
money? 99 , and when 
you say, “Yes” they 
Answer, “Sorry, ifs 
not for me. 99 9 

need over time to equal today’s 

$ 1 , 000 . 

If your goal is sbort-tenn — say, to 
have $5,000 in a year — and inflation is 
at a benign 2 percent, you will need 
$] ,020.00 times 5, or $5, 100 in a year to 
equal today’s $5,000. That is not too 
damaging, but as the chart makes clear, 
if you want a larger chunk of money at a 
finish line fetter down the road and 
inflation is running higher, it wUhavea 
major impact on your-plans: • 

; Then, there is fee performance of 
your investments. In a bull stock mar- 
ket, such as that in the United States in 
recent years, yew may get lucky and 
meet your objective sooner than an- 
ticipated. If you hit a bad patch in the 
markets, however, you could fall be- 
hind. 

i -\70UR TOLERANCE for risk 
? . y 8150 plays an important role in 

A your choice of investments. You 
duty deride that you wfi] try to beat 
inflation, or simply shoot for heftier 
profits, by taking a more aggressive 
investment stance. 

; “If you have fee right attitude, you 
can have a greater percentage of your 
portfolio in stocks, especially if you’re 
younger and have time to nde out the 
ups and downs,” said Mr. Altfest 
A rule of thumb used by some U.S. 
financial analysts is that investing in 
smaller companies will produce about a 
12 percent annual return cm average. 
Small-company stocks have returned 
12.5 percent annually over 70 years to 
the end of 1995, outsflipping all other 
classes of investments, as seen on Table 
VII, from IMbotson Associates. 

; The chart also shows that $1 invested 
in small-company stocks in the United 
States in 1925 would have grown to 
$3,822.40 by fee end of 1995, compared 


- l 




with only $34.04 for $1 invested in SI 00.00 

lopg-term government bonds. 

Yet many investors cannot tolerate 
the. ups and downs of small-company 
stocks. If fee idea of seeing yourbold- 

inj|s take a tumble, even temporarily, 

strikes fear in your heart, financial ad- $10.00 
visors suggest setting your sights lower, 
at an annual 8 percent return, by in- A 

vesting in a portfolio of steadier, bigger A 

blue-chip companies and a larger por- R\ 
tion of bonds. Xilr 


A GE IS ALSO a factor. Investors 
who are neazing or already are in 
retirement and who are looking 
for income and stability, are typically 
advised to tilt their portfolios toward 
more fixed income and may be wiping 
to settle for returns as low as 4 percent. 

“These are people who like the idea 
of getting all of their return in a cash 
payment,” said Mr. Altfest. 

One way of gauging your risk tol- 
erance is to ask yourself how much you 
could stand to lose in a market decline. 
Toget an idea of fee trade-offs between 
different levels of risk and returns, look 
at Table DC This shows how often and 
how badly some typical portfolios were 
hit by losses, when these occurred. 

The lower returns from bonds and 
government securities compared wife 
stocks in the United States are typical of 
most other countries as well. 

And where individuals, including 
younger people, are heavily invested in 
fixed-income securities and low-yield- 
ing savings accounts, it is a cause for 
growing concern as governments warn 
that they will no longer be able to hilly 
bankroll individual retireinetiL 
“In the UJC, we have a lot of very 
unsophisticated investors, and building 
society accounts are very popular wife 
them,” said Garry Heath, head of the 
Association of Financial Advisers in 
London. 

He noted that returns from these ac- 
counts had barely kept up wife inflation 
over fee past two decades, but risk- 
averse uunvidnals continue to cling to 
them like “grim death.” 

“When you discuss equity investing, 
their first question is, ‘Could I lose 
money?’, ami when you say ‘Yes,’ they 
answer, ‘Sorry, it's not for me.’,” Mr. 
Heath said. 


government 


Lonq-term 

lent bonds 


By Kenneth N. Gilpin 


^ — — - 

'Xm 


A YEAR AGO, many stock- 
market pundits were urging 
investors to plumb markets 
outside of the United States 
for returns that they said were unlikely 
to be matched on Wall Street. 

The sharp run-up in U.S. stock prices 
during the 1990s was due to peter out, fee 
argument went, and lagging overseas 
markets were overdue for a strong rally. 

The logic may have been impeccable, 
but the timing was wrong. 

“In general, it was a pretty good year 
for people investing in overseas mar- 
kets, which, wife the exception of Japan, 
posted returns in the mid-teens,” said 
M. David Testa, chairman of Rowe 
Price-Fleming International, a unit of T. 
Rowe Price that manages more than $25 
billion in international equities. "That 
would look very nice were it not for the 
fact that the United Stares did better.” 
The Dow Jones industrial average 
rose 26 percent and the Standard & 
Poor’s 500-stock index was up 20.3 
percent in 1996. By comparison, in- 
vestors who put their money into an 
international fund weighted along the 
lines of Morgan Stanley's broad Europe, 
Australia ana Far East index would have 
posted returns of just 3.8 percent. 

But that index, which includes the 
major global markets and is weighted by 
market size, tells only part of the story. 

‘ ‘When you compare fee U.S. market 
to the international benchmark, fee 
American market wins hands down,” 
said Jeffrey Russell, a managing di- 
rector of Smith Barney Inc. and man- 
ager of the firm's SI. 3 billion Inter- 
national Equity Portfolio. 

“But that benchmark is heavily 
weighted to Japan, which has been fee 
poorest market of all for a doUar-based 
investor,' ' he added. * 1 A number of not- 
insignificant markets, like Hong Kong, 
Ireland, Sweden and the Netherlands, 
were all up more than 20 percent for a 
dollar-based investor.” 

A rise in fee value of the dollar 
against major currencies also cut into 
returns measured in terms of the U.S. 
currency. But some international stock 
funds hedge their foreign-exchange ex- 
posures. 

In Germany, companies like Daimler- 



| 1925 1930 1935 1940 1945 1950 1955 I 960 1965 1970 1975 1980 1985 1990 1995 1 
Source: Ibbotsan Associates InunalXHaJ Herald Tribune 


VIII. SI Million for Retirement 


Monthly contributions at these rates: 

12% annual return 8% annual return 4% annual return 




5190 

S2S6 

5436 

S671 

S1.052 

51,698 

$2390 

$5,466 

$13,610 


: 'S1.P94 . 

$1.441 
" " S1JB45 
$2,726 
' ' •$4.064 

SB7T* 

A $15383 - 


Source: bbotson Associates 


Does Your Dream Add Up? 

Con tinned from Page 15 versions in Spanish for M 


G rowing numbers of these 

individuals are receiving large 
sums of money from pension 
funds, and they are unaccustomed to 
investing, he said. 

But te cited one bright spot: (be 
growing popul arity of Personal Equity 
Plans, or FEPs, in Britain. Indhnduals 
can invest up to £6,000 ($10,200), tax- 
free, in these funds annually, and are 
never taxed cm profits; 

Still, Mr. Heath acknowledged, “We 
have a huge education process ahead of 
us.” 

Risk-averse Germans are also wed- 
ded to bonds and savings accounts at 
their banks. 

“With luck, they ’re just holding their 
purchasing power,” said Stanley Bron- 
isz, managing director of fee Pioneer 
Fund group in Munich, noting feat pass- 
book savings accounts in Germany were 
currently yielding a meager 2J5 per- 
cent 

“We’re frying to educate our clients 
on why equities are important by sug- 
gesting low volatility products, but it’s a 
very difficult educational effort,” he 
added. ■ 

Mr. Bronisz and Mr. Heath said they 
hoped that having to take more personal 
financial responsibility far retirement 
would encourage more equity investing 
in Britain and Germany. 

The process is farthest along in the 
United Slates. In a recent survey by fee 
mutual fond trade group Investment 
Company Institute, 84 percent of fee 
U-S. fund shareholders said they were 
investing for retirement 


have a problem: You are spending more 
than you have craning in, and you might 
consider ways to trim your expenses. 

Now you can dream a little wife 
Table Iff. HU in the amounts based on 
the current prices in your main currency 
of the things you want to acquire. You 
can adjust the figures for inflation by 
using Table IV, which tells you how 
many units of your currency you will 
need in the future based on various 
inflation Tates. 

S AY YOU WANT to buy a new car 
in five years, one that today would 
cost about 5 ■ million yen 
($43,100). If yen inflation runs at 4 
percent, you would have to have about 
6.1 million yen by the time you are , 
ready to hire (5,000,000 x 1 217 = 
6.085.000.). It is not really possible to : 
forecast inflation, but you can use the ! 
current rate in your country of residence ■ 
or, to be safe, a slightly higher rate. 

After you have identified what you 
want and how much it might cost, you , 
can figure out how to pay for it. First, 
look at your current investments and, 

S the rates in Table V, estimate how 
they will grow over time. Subtract 
the results from your goals. 

For example, if you have 1 million 
yen already saved and you can earn 8 
percent a year on it, it will grow to 1 J5 
million yen by the time you are ready to 
visit the automobile show rooms in five 
years (J, 000,000 x 1.469 = 1,469,000). 
Thus, yon will need to save 4.6 million 
yen if you plan on paying cash. 

How much will that be per month? 
Use Table VI to figure it out Say your 1 
million yen in savings is in a balanced 


versions in Spanish for Mexico and 
Venezuela and in English for Britain 
and South Africa. 

The programs were not translated 
directly from the American version, but 
redone by nationals of each country, 
using local terms and taking into con- 
sideration local financial customs and 
regulations. 

For more information, check the In- 
tuit web site at www.intuit.com. 


Benz AG and BASF AG saw their stock 
prices move sharply higher as they set 
out to cut costs. Analysts said the theme 
of corporate restructuring was a big rea- 
son the German D AX index of 30 stocks 
rose 19.7 percent, in dollar terms. 

The wave of revamping barely lapped 
at Ranee Last year, ten prices on the 
Bourse still advanced 162 peroent- 

While corporate reorganization was a 
dominant theme in Europe, political 
concerns were paramount in Asia. 

That was perhaps most true in Japan, 
where a lack of political will to address 
long-standing problems in fee country’s 
economy and financial system pushed 
stock prices down again, continuing a 
precipitous decline that began in 1989. 

For the year, the Nikkei index of 225 
issues was down 12.9 percent in dollar 
terms, even though the Bank of Japan 
pushed down interest rates. 

Hong Kong, even in the face of China's 
coining takeover, performed well. For the 
year, the Hang Seng index was up 33 J 
percent in dollar terms. 

Markets in Latin America emerged 
from the deep hole created by the Mex- 
ican peso devaluation in late 1994, a 
crisis that plunged Mexico into a deep 
recession and cast a pall over fee entire 
region for much of 1995. 

Of the major Latin markets, Brazil 
did the best by far last year, rising about 
50 percent in dollar terms. For the year. 
Mexican stocks rose 18 percent 

Looking ahead to 1997. analysts said 
they were confident that their broad 
predictions would come true and foreign 
markets would outperform America's. 

Wife fee exception of France, which 
has high unemployment and an apparent 
unwillingness to cut government spend- 
ing. the analysts are almost uniformly 
optimistic about Europe. And while 
Latin America holds promise, selected 
Asian markets like South Korea are a far 
better comparative value, they said. 

“The market is fairly valued in 
Europe right now, assuming the Euro- 
peans do nothing,” said Albert D. 
Richards, the head of European equity 
research at Salomon Brothers Inc. in 
London. “That gives you a free option 
on fee benefits from restructuring, and I 
kind of like free options. The potential 
of unlocking value in some of these 
companies is enormous.” 

The He* York Times. 


*«*pi ...... 

r " H UP TO 2% DISCOUNT 






" V ...... ...... 

.. . .. .. .. 






IX. Investment Risk: 1926-1995 

mm 


•* 


iSMiJill 

lilBlji 

pfiiistll 

mmmm* 



ilfeliBfc 




iiipliSli 


mutual fund that you figure will return 
an average 8 percent in fee craning five 
years and yon decide to keep adding to 
feat fund. For each 2.000 yen you want , 
to save over the period, you will have to I 
invest 1 3.62 yen a month. So, divide 4.6 
million by 1,000 to get 4,600, and mul- 
tiply that by 13.62. The result, 62,652 
yen, or about $540, is what you need to 
put aside each month. 

If that seems a bit steep, you might 
decide to switch your savings into a 
more aggressive small-company 
growth fund, while leaving your current 
savings in the balanced fund. You face 
increased risk, but if the investment 
returns the hoped-for 12 percent a year, 
you can trim your monthly savings to 
1233 x 4,600, or 56,718 yen a month. 

When you have done this for all your 
goals, add up the amount you have to 
save each month. Compare what you 
need to save wife how much cash you 
have to invest 

I F YOU CAN save enough to finance 
your goals, congratulations. But if 
your resources Call short of your 
dreams, you will have to increase your 
earnings (perhaps by working overtime 
or taking a second job), decrease your 
expenditures or curtail your expecta- 
tions. Work between Tables II and HI to 
fry to balance your finances and your 
objectives. 

You might decide to go out less often 
each month and save an extra $100 or 
so. If you are in your 20s or 30s, you can 
see how increasing your savings by a 
small amount each month can transfate 
into major increases in purchasing 
power in future years. 

These tables can give you an idea of 
where you stand, but for effective fi- 
nancial planning you should keep run- 
ning records of your finances. A simple 

way u> do so is wife a budget book, which 

can be purchased at a stationery store. Or 
if you have a computer, a program like 
Quicken from Jntmt Inc. or Microsoft 
Coip/s Money is a high-tech method of 



. ; Jfi Ilipl : 

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• .'■(!■ .,S ■*.£. »■ I 


up 339%, since 1990 and up 30% Hvis year. . 
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• ... 


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China shares have generally rebounded strongly from 
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believe that this trend is set to continue. 

We believe that the Hong Kong market is enjoying 
a re-rating as fears of the 1997 political transition are 
replaced by optimism for Hong Kong's prospects as 


OUR DISCOUNT OFFER 

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the financial capital of Southern China. 

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OTOTUBCJW. 


PAGE 18 


Sports 


SAT URDAV-Sinsafflt, IANUAKV 4-5, 1997 


World Roundup 



fcaatm Sri/Agenae ftwo-Rtur 

Italy's Sabina Panzanini skiin g 
to victory in Maribor, Slovenia. 


Italian Double 


skiing Italy’s Sabina. Panzanini 
recorded her second victory of the 


World Cup season Friday when she 
finished first in the women's giant 


slalom in Maribor, Slovenia. 

Panzanini produced the quickest 
second run to improve on a first-leg 
fifth place for a winning aggregate 
time of two minutes 34/74. 

Deborah Compagnoni, also of 
Italy, and Anita Wachter, of Aus- 
tria, tied for second at 2:34.82. 

Panzanini underwent treatment 
at a clinic in the summer after doc- 
tors told her that recurring back 
problems were due to her weight. 

(Reuters, AP) 


Clubs Seek Commissioner 


baseball Team owners plan to 
appoint a search committee to be- 
gin the process of hiring a com- 
missioner during their three-day 
meeting in Scottsdale, Arizona, this 
month. 

The owners are scheduled to 
meet on Jan. 14-16. Bud Selig, the 
acting commissioner, said from his 
home in Scottsdale: “We certainly 
will continue the process. We'll be 
getting the mechanism to hire a 
commissioner, ready to go.” 


Baseball sources said they expect 
■e to take at least 


the search committee to take at 
six months to complete its work, 
and many of the sport's leaders say 
chat they expect Selig simply to 
accept the job on a more permanent 
basis. Selig, die owner of the Mil- 
waukee Brewers, continues to say 
that he doesn't want the job. (WP) 


Hill OutpoDs Jordan 


basketball Detroit's Grant 
Hill has passed Chicago's Michael 
Jordan as the overall leader in fan 
voting for the Eastern Conference 
starting team in the Feb. 9 NBA 
All-Star game at Cleveland. 

Hill, the overall leader the past 
two years, has 196,534 votes to 
183.556 for Jordan. Chicago’s 


Scottie Pippen followed Hill at for- 
with 151.4 


ward with 151.402, while Or- 
lando’s Anfemee Hardaway was 
second at guard wife 105,400. New 
York's Patrick Ewing leads the 
centers with 111.313 votes. (AP) 


No Ball, No Game 


SOCCER Two Italian amateur 
teams have been ordered to replay a 
match that ended prematurely 
when the players ran out of balls. 

All three available balls disap- 
peared after being kicked out of the 
grounds during the game between 
southern sides Ginestra and 
Ruvo. ( Reuters ) 


Gators Taste Sweet Revenge in Sugar Bowl Rout 


Wueiffel Throws for 3 Scores 
As Seminoles Allow 52 Points 


t ive$ 




.. 


Srf 5 


By Anthony Cotton 

ftafJwi£20n Post Service 


NEW ORLEANS — One year ago, 
the University of Florida was humil- 
iated in its attempt to win college foot- 
ball's national championship. 

On Thursday night, the Gators re- 
deemed themselves, routing their bated 
id - state rival Florida State. 52-20, in the 
Sugar Bowl. 

The victory served three purposes for 
the third-ranked Gators (12-1): It 
avenged a 24-21 loss to the Seminoles 
on Nov. 30 in Tallahassee and prevented 
Florida State (1 1-1), which entered the 
game as the top-ranked college football 
team in the United States, from claiming 
the national championship. Most im- 
portant. it put the Gators in position to 
finish No. 1 in the final polls for the first 
time in history. 

“Florida has looked about as strong 
as anybody in the country,” Bobby 
Bowden, the Florida State coach, said. 
“They should be ranked No. 1 — if 
Steve didn't make too many people mad 
last week." 

Steve Spurrier, the Florida coach, in- 
deed had the most incessant voice dur- 


ing the days leading up to the game. 


complaining about late nits on his quar- 
terback, Danny Wuerffel, by the Semi- 
noles during the teams' first meeting. 

Bui Thursday night, Wuerffel, the 
Heisman Trophy-winning senior, made 
the loudest statement Working mainly 
from the shotgun and usually with extra 
protection from at least one running 
back, he completed 1 8 of 34 passes for 
306 yards and three touchdowns. He 
also ran for another touchdown, as the 
Gators ended Florida State’s 1 1-game 
bowl winning streak and 14-game un- 
beaten streak in bowl games, both 
NCAA records. 

Spurrier had a few more things to say 
— this time to the NFL scouts who have 
said Wuerffel won’t be able to play in 
the pros. "I think if you want to win a 
Super Bowl you should get Danny 
Wuerffel on your team.” Spurrier said 


after the game. “All he does is make 
plays.'* 

Wuerffel wasn't the only playmaker 
on the field for the Gators. All three of 
his touchdown passes went to one wide 
receiver, Ike Hilliard, who finished with 
seven receptions for 150 yards. A run- 
ning back, Terry Jackson, kept some of 
the pressure off the Gators' passing 
game by rushing for 1 1 8 yards. 

Warrick Dunn, Florida State's star 
running back who had rushed for 863 
yards in his five previous games against 
Florida, was held to just 28 bn nine 
carries. Dunn battled leg cramps for 
much of the evening and carried the 
football just once in the second half. 

“In a game like this you need to have 
a balanced offense, and not having War- 
rick out there kept us from being able to 
do that,” said Thad Busby, FSU’s quar- 
terback. who threw a 55-yard comple- 
tion on his first play from scrimmage but 
completed just 17 of 41 passes. Busby's 
total of 271 yards was almost double his 
total from the first game, but just 55 of 
them came after intermission. 

The only flaw in the Gators’ per- 
formance was being penalized 15 times 
for 102 yards. But the frustrated Semi- 
noles were penalized 14 times for 115 
yards and some were costly. A pass- 


interference penalty against Florida 
State set up the game'! 


game's first score, a 
nine-yard pass from Wuerffel to Hil- 
liard. A personal -foul penalty by a de- 
fensive end, Peter Boulware (for a late 
hit on Wuerffel), led to a two-yard TD 
run by Fred Taylor that gave the Gators 
a 17-3 lead early in the second period. 

Busby hit E. G. Green with a 29-yard 
touchdown pass with 7 minutes, 28 
seconds remaining in the half, but Florida 
responded with a 65-yard drive (along 
with two more Florida State penalties) 
that ended with Wuerffel throwing to 
Hilliard, this time for a 31-yard score. 

Dunn made his longest run of the 
night, a 12-yard scamper, with 40 
seconds to play in the half to cut Flor- 
ida’s lead to 24-17, Then the Seminoles 
scored die first points of the third 



lacCdnofltiuMi 

Florida's Tory Jackson r unning away from a pack of Florida State defenders daring the fourth quarter. 


litre for a kick of nearly 68 yards. a 42-yard touchdown run by Terry Jack* 

.tlcy. Bowden said later he thought Four plays later, the Seminoles were son with nine minutes left and a one# 

his team would be able to complete a forced to punt and, five plays later, yard scoring nm by Jackson with two 


quarter on a 45-yard field goal by Scott 
Bentley. 


tf'ItID 




comeback at that point 
The Seminoles held again, bat Flor- 
ida's punter, Robby Stevenson, drilled a 
kick dial Florida State's Dee Feaster 
failed to field. The bail rolled away from 
him, all the way to Florida State's 3 yard 


Wuerffel and Hilliard connected far 
their third TD, this one for seven yards. 
On the next Florida possession, Wuerf- 
fel scrambled 16 yards for a touchdown 
that made the score 38-20. 

The Gators weren’t done. They added 


minutes remaining. 

■ “We knew we were foe better team 
even after foe first game,” said a Florida 
defensive back, Anthone Lott. “We 
knew we’d win tonight, it was just a 
matter of how much.” 


. a 
» * 

' 


V-4S 


; 5 


Home Should Be Heaven for Most (Even the Panthers) 


■ -r*r 
±-» 
TV-f 




By Norman Chad 

Washington Post Service 


in their current home — play at Ericsson 
f Toba 


H OME-FIELD advantage, my 
friends, home-field advantage. 
You can't lose with it. you can’t 
win without it The NFL playoffs this 
weekend — with one notable exception 
— again will prove this tradition. 

Denver, Green Bay and Carolina all 
were unbeaten at home this season. In 
fact. Denver, Green Bay and Carolina 
arguably have the biggest at-home edge 
in'all of sport, due to atmospheric con- 
ditions. 

The Broncos — 8-1 lifetime in the 
playoffs at home — play at an altitude at 
Mile High Stadium that leaves visiting 
players short of breath. Tbe Packers — 
who have won 16 straight home games 
— play at very, very cold Lambeau 
Field, where the scent of Wisconsin 
cbeddar in tbe air often throws off the 


opposition s pass routes. 

The Panthers — who have never lost 


Stadium, in the heart of Tobacco Coun- 
try, creating a hazy, nightclub ambiance 
in which opposition players cough a lot 

Those are die facts; they are incon- 
trovertible. indisputable and undeniable. 

Now here’s some opinion: Nobody 
goes into historic Ericsson Stadium and 
beats the Panthers. Nobody. Plus — and 
I must say this yet again to update those 
folks who are joining the season in 
progress — Carolina is Super Bowl- 
bound! 

Meanwhile, the fourth team hosting a 
game this weekend. New England, 
doesn’t have a home-field advantage 
because the Patriots really don’t have a 
home field. There is God's green earth, 
and there is the Foxboro Stadium turf. 
Tbe sod on that field is a disgrace. 

Here's one ocher note before we get 
down to the tough business of game 
analysis: This postseason features sev- 
eral “coaching schools.” There is the 
49ers-trained coaching line — George 


Seifert, Mike Holmgren and Mike Sha- 
nahan. There are Bill Parcclls and his 
disciple, Tom Coughlin. There are Bill 
Cowher and his former assistant, Dom 
Capers. And then there Is the last of the 
independents, Mr. Barry Switzer, from 


NFL Playoffs 


a school of coaching that's one part 
Godzilla, one part Uncle Joe and two 
parts Texas crude. 

Cowboys at Panthers There is a fine 
line between “America’s Team” and 
“America's Most Wanted.” And let me 
tell you something, people: By phone, I 
personally spoke with more than 45,000 
Americans this week, and only 19 of 
them claimed to be still rooting for the 
Cowboys. We've ail bad it up to hoe 
with North Dallas Forty, also known as 
North Dallas Five to Ten No Parole. 

Incidentally, you can imagine my 
rage and fury upon seeing Carolina as an 
underdog ? Nobody beats my Panthers 


in historic Ericsson Stadium. Nobody. 

£a addition, it must be pointed out — 
and I don't mean this as a criticism — 
but I’ve watched every Dallas game this 
season and don’t recall Deion Sanders 
making a single tackle. 

Anyway, this is how the game will 
go: My guy (John Kasay) will kick four 
field goals and their guy (Chris Boniol) 
will kick three field goals, which means. 
... Panthers win! Panthers win! Pan- 
thers win! Pick : Panthers. 

49ers at Packers How do yoo bet 
against San Francisco? Steve Young re- 
minds meof Methuselah, whom I saw play 
a number of years ago in the forma - CFL. 
(Canaanite Football League). And, other 
than the old British Empire, foe 49ers are 
the greatest road team in history. 

But, excepting for foe fact that Carolina 
is Super Bowl-bound, this is the Packers’ 
year. Green Bay has become my borne 
away from home, and I hove become fond 
of its tree-lined streets, .its warm, small- 
town feel and its paper mills. 


Key-Factor: This game is starting-at 
9 -30 AM. Pacific time. The 49ers won’t 
adjust well; nobody in California does 
anything before II on weekends. Pick: 
Packers. 

Steelers at Patriots Where do you 
think I stand on Cowher vs. ParceUs? In 
recent NFL memory, no one appears to 
enjoy tire entire specter of competition, 
tbe prospect of cold and snowy game 
conditions, the atmosphere of playoff 
football and just the act of being on the 
sideline more than Cowher does. 

On foe other hand, at any given mo- 
ment Parcells appears to be midway 
through a root canaL 

In addition, die Steelers have a far 
better defense than foe Patriots. Pick: 
Steelers. 

Jaguars at Broncos This Jackson- 
ville jaunt to the Super Bowl has been a 
wonderful, improbable fairy tale. But, 
much like Roseanne and Tom Arnold, it 
must come to a sudden, ugly end. Pick: 
Broncos. 


Bure and Mogilny 
Lead Canuck Win 


CcrnptcJ br Our Stoff Fitwi [hspctdta 

Pavel Bure broke out of a 
scoring slump with two goals 
and Alexander Mogilny ad- 
ded a goal and two assists as 
the Canucks ended a season- 
high four-game losing streak 
by holding off a late charge by 
the Los Angeles Kings to win 
4-3 in Vancouver. 

The injury-plagued Kings 
never gave up out they could 
not overcome force goals by 
foe Canucks in the final seven 
minutes of the second period. 

Trailing, 4-1. going into 
the third period, the Kings 
scored two late goals, but a 


NHL BoltNPDF 


possible third by Jeff Sheva- 
lier was disallowed because 
Ray Ferraro was ruled to be in 
the crease too early. 

Vancouver, which had won 
only three of its previous 10 
games, also had a lineup de- 
pleted by injuries, but the Ca- 
nucks have Bure and Mogilny 
— two offemiveplayers who 
can make the difference. 

“They never got touched 
all night, ” Lariy Robinson, 
foe Kings' coach, said. “You 
can't afford to have good 
players like that skating 
around without someone tun- 
ning into them." 

Hie Canucks took tbe lead 
on a power-play when Mo- 
gilny passed to Bure who beat 
Stephane Fiset to his glove 
side from outside foe right 
post at 7:17. 

Mogilny pm foe Canucks 


2-0 ahead with a short- 
handed goal at 13:33 of foe 
second period. Eddie Olczyk 
scored on a rebound for the 
Kings, but Mogilny and Don- 
ald Brasbear then scored for 
the Canucks to give them a 
lead that survived. 

Rangan 4, Idamtora 3 

Marie Messier and Mike 
Richter continued their out- 
standing play of late while 
leading the New York 
Rangers to victory over foe 
New York Islanders. 

With foe Rangers losing 3- 
2, Messier assisted on Alex- 
ander Kaipovtsev’s tying goal 
with less than seven minutes 
left, then scored the winner 
with his second goal of the 
night until 3:30 remaining. 

That moved Messier past 
Guy Lafleurinto 1 1 fo place on 
the National Hockey League's 
career goal list with 561. 
Richter made the goal stand 
up as be extended his winning 
streak to 10 games and his 
unbeaten streak to 14. 

It was the third game in four 
that tbe Rangers won in the late 
. They also beat Ana- 
asd Dallas with goals 
with about a minute left 

Flyors 4, Sharks 1 Daniel 

Lacroix and Eric Lindros 
scored first-period goals as foe 
Flyers extended their season- 
high unbeaten streak to 15. 

Philadelphia took a 2-0 
lead less than 10 minutes into 
Jhe game and remained in 
charge the rest of the way. 

P Wyd M B, Devils 1 

Jaromir Jagr scored his NHL- 


TP7. 



^ v?-y 


Top Teams Teetering in West 


Rockets and Jazz Fall, Continuing Losing Ways 


The Associated Press 

The two top teams in the Western. Con- 
ference continue to snuggle. 

The Houston Rockets lost for foe fifth time 
in eight games Thursday night, 112-96, to the 
Portland Trailblazezs. It was foe Rockets’ 
fourth loss in their last six home games. 

Meanwhile, the Utah Jazz lost for foe 
fourth time in six games. 83-80, to the San 


Antonio Spurs. 

‘ ‘It was like we were running in mod,’ ' said 


Jerry Sloan, Utah's coach. 


road 


loss was Utah’s fourth straight on the 
and kept the Jazz (22-8) a game 


NBA Roundup 


GqQriq/Bentoi 

Colorado’s Joe Sakic checking Calgary's Cory Stillman in the first period in Denver. 


leading 34th goal and Mario 
Lemieux had four assists to 
power visiting Pittsburgh. 

Ron Francis, Stu Barnes. 
Fredrik Olausson, Kevin 
Hatcher and Peter Nedved 
also scored and Jason Wool- 
ley had three assists for the 
Penguins, who extended their 
unbeaten- streak to seven. 

Patrick La lime, the un- 
beaten rookie goalie, gave up 
a goal to Steve Sullivan and 
made 31 saves to extend his 
record to 8-0-1. 

Brains 3, Whslsrs 4 Ted 
Donato scored his second goal 
at 2:21 into overtime to lift 
Boston to victory at Hartford. 

The Brains, took a 3-0 lead 
in the first 4:41 of the game 


before Hartford scored four 
straight goals to cany a 4-3 
lead into the final period. 

Coyote* 4, MFekhawte 2 
Bob Cadcum scored foe tie- 
breaking god with 9:15 toplay 
as Phoenix won ai Chicago. 

Dave Manson, Cliff Ron- 
ning and Keith Tkachuk also 
scored for foe Coyotes, who 
are 8-2-0 since general man- 
ager John Paddock was fund 
Dec. 11. 

The game marked Jeremy 
Roenick’s first game in 
Chicago since his offseason 
trade to Phoenix. The former 
Blackhawk star was held sco- 
reless. 

rNrw dfai ti x. Hum 2 Vin- 
cent Damphousse scored 


twice as Montreal extended 
its unbeaten streak on tbe road 
to seven games. 

The Blues outshot foe Ca- 
nadiens 41-19, but needed a 
goal by Brett Hull with 1:25 
remaining in regulation to get 
tbe tie. 

Ava l a nc he 3, Hama* 2 At 

Denver, Toe Sakic recorded 
his 500th career assist onUwe 
Knrpp's game-winning goal 
as Colorado won its fifth 
straight. 

Sakic, who also reached foe 
800-point mark, won a faceoff 
in foe Calgary zone and 
Kxupp put a one-timer past 
Flames goaltender Trevor 
Kidd to break a tie game with 
2:15 remaining. (iAT, AP) 


and a half behind the Rockets (24-7) in the 
Midwest Division race. 

Spun 83, Jazz so Avery Johnson scored 22 
points far foe host Spurs, including 12 in foe 
fourth quarter, as Sean Elliott scored 18 and 
Will Perdue had 12 rebounds. 

Utah had a chance to tie the game in foe 
find seconds, but consecutive 3-point at- 
tempts by Karl Malone, John Stockton and 
Jamie Watson all failed. 

M Mima 112, Ho d wt i 96 Tsaiah Rider 
scored a season-high 31 points and hit two 
crucial 3-point baskets late in the fourth 
r. Toe visxtn 


quarto 1 . The visiting Trail Blazers wot their 


first time m three tries tins season. The Rockets 
hurt themselves by shooting only 18-of-30 on 
free throws and (hot-27 on 3-pointers. Port- 
land connected on 27 of 31 foul shots, led by 
Arvydas Saboms’s 12-for-12. 

urinn so. Kings 93 Los Angeles, in third 
place in foe Western Conference, improved to 
23-9 with a victory ar Sacramento. 

hfick Va n Exelhft a pair of 3-pointers down 
foe stretch, and tiwLakOTctoseathe game with 
a 16-3 nm to win their fourth in a row, Sha- 
quille O’Neal had 25 points and 16 rebounds. 

Hast 191, Hats 91 At Miami, foe Heat 
jumped ahead by 16 points midway through 
the first period, led by at least seven foe rest of 


foe way and extended their winning streak to 
six games. Alonzo Mourning returned after 
missing one start with back spasms and led 
Miami with 28 points. 

Wow 99, Celtics 87 Grant Hill had 20 
points, eight rebounds and eight assists, Joe 
Dumars scored 19 points and Lindsey Hunter 
had 14 for Detroit, which won its third in a 
row and improved its home record to 14-3. 

«u 9 c i » o iwcc 9 0 ,76cr>eaAt Seattle, Shawn 
Kemp scored 23 points, Hersey Hawkins and 
Gary Payton had 21 each, and Dedef Scbr- 
empf added 17 for the Sonics, who ended a 
two-game losing streak. 

Kemp’s 3 -pointer with 23 seconds left in 
foe third period rave foe Sonics a 61-60 lead, 
and Seattle steadily pulled away in the fourth. 

Kniefcs 92, Bu D*t» so Patrick Ewing had 22 
points and 12 rebounds, Allan Houston 
scored 18, and John Starks had id as New 
Yarik won at Washington, 

The Knicks, who shot only 41 percent, led 
by 11 at halftime and never let the margin 
shrink below six points in winning their 13th 
game in 15 tries. 

Nagie 96, Raptors 94 At Orlando, Rany 
Seikaly’s turnaround jumper in foe lane with 
less than a second remaining capped a 31- 
point performance and gave foe Magic just 
their third victory in 15 games. 

Seikaly forced overtime with a free throw 
in the dosing seconds of regulation, then 

crnrFMsJ nil _ 



I .1'. 


score d all six of foe .Magic’s points in foe 
extra period. Hie also graced 13 robot 



« 




- •<* 


-■SMB 


I V 


_ i rebounds. 

Honwta 107, Mmarfeka 97 At Charlotte, 
Glen Rice scored 37 points as foe Hornets 
beai Dallas for foe third consecutive time. 

. Charlotte went on a 23-8 run in foe third 
quarter that featured 10 points by Rice, 
c Milan 103, ■ fa nrari chi 94 At Cleveland, 

ChnsMifls scored 20 points, and the Cavs, who 

shot 54-1 percent, got double-figure scoring 
from afl five staters pins reserve Bob Sura. 

Kevin Johnson, still playing point guard for 
Phoenix because newly acquired Jason Kidd 
is injured, led foe Suns with 25 points, in- 
cluding 13-for-13 shooting at the foul lfra- 


l 











v 








l/amuuional Herald Tribune 

I STANBUL — As if in secret, Istan- 
bul is teadying itself to hosfthe2004 
Olympics. A huge tract of lanrl 
being developed fortbe 80,000-seat sta- 
dium nod the s atr o oa ding Olympic 
PritThe largest-ever Olympic Village 
bousing complex is- already .under con-.' 
•traction ana the secular ideals of .the 
plympic Charter haveeveabeeu pasted 
into the Tn Hrish law books. 

Z. T^y v^ bea stunning Olympics, all 
right; provided Istanbul wins them. , 

* The. city says it has invested $150 
SBiflfcn in: Olyinpjc-related projects 
without any guarantee of being awarded 
fhe 2Q(M Summer Games mthe vote by 
the International OlympicCommitleein 
September. Eieven citicsare bidding, 
with Istanbul an outsider behind the 
rent favorites — Rome, Athens, 

! Town and Stockholm. 

, ie unpromising odds seem to - fit 
with Istanbul's strategy to bring the 
Olympic Games fo a 'predominantly 
Muslim cotmlry for the first time. 

’ There wtiuklseem to be all ldnds of 
reasons toavoid planting' the'- world's 
largest sports festival in Ttnkey: threats 
trf terrensm and hrrmfln ri ghts 

-• a dearth of facilities, Ettanbul openly ad- 
* huts itself goflty of eadi problem. 

-■« In a surprisingly convincing way, 
these admissions f^lhe'fbtmdmionof 
its bid. ‘ 

* * ‘Istanbul needs alot of betterment,” _ 
says Yalciii Aksoy, general director of 
ihe Istanbul' 2004 Olympic Bidding 
Commiaee. “Environmentally the city 
is in shambles. The air quality is not' 
good, the water quality is not good; die 
Water treatment is just starting. The chy 
is 1 0-milhoD-pius people now^and it is 
increasing by 400,000 people every, 
year. What a burden on the- municip- 
ality! 

'‘The existing infiastructure of Istan- 
bul isnot pleasing at all, and the situ- 
ation is not going in a hopeful way. 

• “You see," be continues, “we are 
losing Is tanbul. Winning the Games 
will be like winning Istanbul back.'* 

■' The Olympics mil open Turkey to 


Vantage Point l Ian Thomsen 


the larger world, he promises, inspiring 
Istanbul to improve m all areas within a 
seven -year deadline. Four centuries ago 
I st a n bul became the first city to reach a 
population of 1 millioaa;it has been seat 
to die Roman, Byzantine and Ottoman 
.empires. It r emains the only city to 
straddle two continents, with West and 

; The Olympics wod^b^btanbul’s 
defining modem event, patching up its 
perhaps helping Tur- 
key enter the European Union, Aksoy 
says. 

“Hus is the ultimate goal of this 
society,” he says, "hi 70 years we 
haven't even come close to it, but we 
want to. 

“To have that kind of society we 
need die Games, and in return - we will 
give the IOC a showcase which they can 
Use to brag to people around the world as 
ashowbf what sports can do." 

IRY TO ask Aksoy about die 
writers whose only crime is their 
criticism of the Turkish govern- 
ment and be finishes the sentence: 
“They aremrested,” he admits. 

“In human rights issues, there is no 
ideal place in die world.lt is a matter of 
degree and I. am not satisfied with the 
degree in Turkey. It should be better 
than it is. The Olympic Games will 
definitely help iis to be better." 

”• In many ways, the city would make a 
refieslang site for the athletes, officials 
apd. spectators whose interests in Istan- 
bul are hunted to the 16~day Olympic 
program.' Istanbul is possibly. Ihe best 
tourist destination in Europe — - inex- 
pensive, hospitable and brimming with 
annuities. 

. '.The city boasts 13,000 more hotel 
rooms than Atlanta, including more lux- 
ury hotels. . 

Istanbul claims ahnost tmammous lo- 
cal support for hosting the Gaines. Its 
summer climate is perfect for outdoor 
competition, its communications net- 
work is modem and its central location 


will cut average travel time for athletes 
to less than five hours. 

Are such positives brighter than Istan- 
bul’s dangerous negatives-? The 112 
IOC voters have a reputation for making 
conservative choices. Aksoy hopes that 
will., change now that the 
Olympics have achieved solvency. 

“The' IOC is about to make its de- 
cision of a city and it has already sold the 
TV rights and the top sponsorship 
rights." He says the IOC can risk striv- 
ing to make a bigger social impact now 
that Us choice of Olympic host won't 
affect income. 

Tins is Istanbul’s second successive 
bid. Four years ago the city went out with 
seven votes in the first round of die 
election for the 2000 Summer Games, 
won by Sydney. 

Even if Istanbul doesn’t win, its 
newly built Olympic faciliti es will be 
put to good use. Almost half of Turkey's 
population are teenagers or younger, yet 
less than one percent of the population 
are registered athletes. 

“This young generation knows noth- 
ing about the Olympic ideal,'* Aksoy 
says, meaning that the Olympics could 
be more influential in Turkey than in 
other countries. 

The foundation for all of Istanbul's 
promises is its Olympic Law, introduced 
by die Turkish Olympic Committee's 
current president, Sinan Erdem, three 
years before its passage in 1992. 

Aksoy was one of the government 
officials who held back its passage. 
Today he is its champion. 

By accepting the Olympic Charter as 

Tnrlrkh law, the co untr y ha.s prpniised to 

meet all of the IOC’s registered de- 
mands. The law's interpretation has not 
changed with die election of the Islamic- 
minded Welfare Patty, Aksoy says. 

“Without die law we probably 
wouldn’t be able to execute the 
Games," he adds. “The law in a way 
forces ‘non-Olympians’ in our govern- 
ment to go along with the job even if 
they are not mad about it." 



ji j 

m, If 

f 

‘ ' i - L-.xi. — j- 

\ 



WigwaJnluwfl'TV 1 Wolnl 

Amanda Coetzer serving against Romania while Wayne Ferreira waited. 

South Africans Reach Cup Final 



CoefHtd bf Ci* Suff fnm Dopacha 

PERTH, Australia — Wayne Ferreira 
and Amanda Coetzer won he deciding 
doubles match Friday as South Africa 
beat Romania 2rl to reach the final of the 
Hopman Cup mixed-teams tennis event. 

- The South Africans will face the U.S. 
team in Saturday’s final. 

Irina Spirlea beat Coetzer 5-7, 6-4. 6- 


1 in the women’s singles, but Ferreira 
then beat Adrian Voinea 7-6 ( 11 -9). 7-6. 
(7-4). Ferreira and Coetzer won the 
mixed doubles 4-6. 6- 1 . 6-4. 

• In Adelaide, Todd Wood bridge be- 
came the only seed to reach the Aus- 
tralian hardcouTt championship semi- 
finals when be beat Alex O'Brien, an 
American. 6-4. 6-4. (Reuters. AP) 


Klusener Blasts 
India’s Bowlers 
For Rapid 102 

Reuters 

Lance Klusener. better known as a 
bowler, launched a ferocious attack with 
the bat Friday and then accounted for two 
Indian wickets as South Africa took com- 
mand of the second lest in Cape Town. 

South Africa had reached 382 for 
seven wickets when Klusener came in to 
face a tiring attack. He and Brian Mc- 
Millan added 147 in an unbroken stand, 
of which McMillan made 39. 

South Africa declared on 529 for sev- 
en wickets, its largest total since being 
readmitted to test cricket. 

Klusener hit i 3 fours and two sixes as 
he made 102 not out off 100 balls. 
McMillan finished on 103 not out. It 
took him five hours and 23 minutes and 
227 halls to reach his century. 

When India batted. Woorkeri Raman 
was run out for five by Klusener, who 
then bowled Rahul Dravid in his first 
over. Paul Adams, the South African 
spin bowler, took the wicket of Ven- 
katesh Prasad (0), and India finished the 
second day on 29 for three. 

Zimbabwe vs England Eddo Brandes 
helped bring England's tour of Zim- 
babwe to a miserable end Friday. The 
medium-pace bowler took a hat-trick — 
three wickets with consecutive deliv- 
eries — as the visitors lost the final one- 
dav game by 131 runs in Harare. 

Brandes. a chicken farmer, finished 
with five for 28. England was all out for a 
humiliating 1 18 in reply to Zimbabwe’s 
249 and lost the series, 3-0. Brandes had 
Nick Knight caught for three off the last 
ball of the fourth over of the England 
innings. With the first ball of his next 
over, Brandes trapped John Crawley for 
zero and then had Nasser Hussain caught 
with die hat-trick ball. 

West Indies vs Pakistan Brian Lara 
returned to form as the West Indies beat 
Pakistan by six wickets in a World Series 
match in Brisbane. Australia. Lara ended 
a run of low scores by hitting 48 as the 
West Indies scored 198 for four in reply 
to Pakistan’s 197 all out. 


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WiftffTfniir— I ttit Angetas 53 (OHoal W, 
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20 12 
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47 114 96 
46 119 78 
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37 113 131 
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38 132 124 
35 112 126 
33 110 111 
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3-8 1 1—5 
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First Peris* B-Donato 11 (DlMaia 
States). 2, B-Bouroue 3 (Oates) (pp). ft B- 
BDC-4 (McLareiL Sweeney) 8 H-Olneen 9 
(Cossets, Sander so n) ft H-RJce 13 
(Lssdiyshyib westoy) (pa).Secoea Pwtoft. 
H-SandeiMn24 (OtWft Dineen) 7,H-Kren 5 
(Wesley) Tlrirri Period: B-Odgeis4 (Harkins, 
Sweeney) Overttoe 9, B- Donato 12 (Oates) 

, Sheh on go ap p- .11-11-11-1^ (L 12:53- 
0—20 . Mk B-Taitos. H-GtgVene, 
MuQath. 

N.Y. IstawriMS 1 2 W 

N.Y. targets 8 2 2-4 

Fhsl Period: N.Y.-McCobe 5 (Green, 

J ans son) (pp). Second Period: N.Y.- 
Rohhone 15 (Cahnb Gretzky) ft M.Y^ 
Messtor 21 (Graves, townie*) 4. N.Y. 
Islanders. Smofinstt 10 [Ptritty, Jansaon) 
(pp). ft M.Y. Htandn Pomy 23 i(Kloft 
Howto) Third Period: RT.-Korporisev 4 
(Messier) 7, K-Y.-Masetor 22 (Leefdb 
Graves) Sheto on Islanders 8)4-9— 29. 

Ranges 9-12-13—34. Series Islanders. 
Sato. Rangers, RIcMer. 

Ptttshurgh 2 3 1-6 

New Jersey 0 1 8—1 

Ftort Periort P-Franch 13 (Lenrieu*. 
Woolley) (pp). 2, P -Somes 8 (Sandstian. 
WooOey) Second Porte d : P-Okuson 5 
(Leaileuta Jog r) A P-Joy 34 (Lemleux, 
OtauMon) ft fU.-, Sutovun 2 (Chambers) 
(PPX ft P-Ho«dter 7 (Lanrieux, VtoaOey) 
(PP). Thfcd Period: P-Nodved 17 

(Sandsirara. Jagri Shots on goto: P- 188 
6—21. IU.- 9-10-13—32. Socles: p-Lnfln» 
80-1. NJ.-Bredeur, Dunham. 

2 8 2-4 
0 1 1-2 


PH Period: Phoenix. Monun 2 
(Ranting, Gaitoec) 2, Phoenbc Routing A 
yang, Gartner) Second Period: C-Amooe 23 
{Zhamrwv, Coney) (pp). Third Perioft C- 
Amonte 24 [Crawn) ft Phoenbc Corkum 3 
(Janney) ft Phoenix. Ttechuk 24 (Corkuml 
(en). Shots os gsafc Phoenix 857—20. C- 7- 

7- 15-29. Goalee Phoenbc Khabftwfln. C- 
Beitour. 

Maternal 119 8-2 

St Loots -- — 8 11 0-2 

Rist Period: M-Damphousse 14 

(Bonteleaul (sh). Second Period: M- 
Damphmsse 15 (CdIDtsor^ RecchO (pp). ft 
S.L-Pronger 4 (Mattea a, Twgean) Third 
Period: SJ^ritrii 18 (COurimU) Ovtrttee: 
Nona. Shots on gsofcM-889-l— I9.5.L-18 
12-15-8—41. GeaBeK M-JabtortsU. S.L- 
Fuhr. 

caigsry • 1 J -2 

Gstomdo »- — - 1-1-V-3- 

Phot Period: C-Keone 7 OCrupp, YeOe) 
(sh). Second Period: C-Tttov 14 (Flewy. 
ReicheO (ppl.ftC^zoinstt 13 (Jones. Saklc) 
(pp)- Thw Period: C-Hlushko 5 (McCarthy) 
ft C-toupp 4 (Sakfc) Shots eo goat C- 2 M 8 

8- 41. C- 11-9-11— Jl. Gordies: C-Wdd. C- 

R«y- 

Los Amoler 0 12-3 

Vttocoenr 13 8-4 

Phot Period: V-Bure 12 (Moglny, Awooin) 
(PPL Second Porto* V-Moattnr 16 (Bore) 
(sh). ft UL-Okzyk 10 (Ferrara. Mocky) 4, V- 
Bure 13 (Moglny. Attain) ft V-Brasheor 4 
(Odpdc Miiizyn) Third Porto* L-A.- 
Nunotom 7 iKhrtotldc Boucher) 7, LA.- 
Sttevater l (Sianey, Loperriera) (pp). Stats 
M got* LA- 7-12-11—30. V- 181811-39. 
Gooteo: LA-Hset. V-McLoon. 

PkOodriphta 2 I 1-4 

SooJom 1 B 8-1 

Fhot Period: Phtadefehla Laaobt 3 
(Kenflc, Therien) 1 P-Undres 11 (LeCWr, 
NOntmoo) (ppL ft San Jose. Twcatte 9 
(Whitney, Dablen) Secowi Period: P-Zubru» 

6 (Otto, Brimanbri Third Perto* P- 
Bflnrf Amour 14 (KkrtD Shots on goak P- 18 
7-7-27. SJ.- 811-7-27, Gottoes; p-Hextoft 
S_i.-Termt 


CRICKET 


INDIA TOOT 

2ND TEST, 2MD DAY 
SOUTH AFMCA Vft OHM 
TODAY. IN CAPE TOWN 
South Africa first innings: 539 for seven 
WORU SUBS UMRID OVKIS 
PAKISTAN VS. WEST INDIES 
TODAY M BRISBANE. AUSTRALIA 
Pakistan: 197 aH out in 49J otw 
West Imfles 199-4 In 48.1 iwers 
West indies by sbnwtdurts. 

■rwiJl«o»i West Indies 4 points, Ats- 
rrnha 4, Pakistan 4, 

UMUUIDTOM 

3D AND FINAL t-DAV OITERN ATONAL 
ZWBABWE VS. ENGLAND 
TODAY W HARARE 

Zknbahwo: 249-7 in 50 avers -- 

England 1 16 al out in 30 overs 
ZbnbatMO twin by 131 runs. 

Zimbabwe won series 80. 


FOOTBALL 



Record 

Pis 

Pv 

1. Florida (65’A) 

12-1 

1-673'h 

3 

ZOtrioSL nvo 

11-1 

l.sss’v 

4 

3. Florida St. 

11-1 

1529 

1 

4. Arizona St 

11-1 

1-486 

2 

ft Brigham Young 

14-1 

1.360 

5 

ft Nebraska 

11-2 

1,316 

6 

7. Penn St 

11-2 

1.293 

7 

8. Colorado 

10-2 

1.228 

8 


9. Tennessee 

10-2 

1.172 


10. North Carolina 

10-2 

1,070 

12 

Tl. Alabama 

10-3 

977 

16 

12. LSU 

10-2 

849 

17 

13. Virginia Tech 

10-2 

7B6 

10 

lft Miami 

83 

690 

19 

lft Northwestern 

9-3 

663 

11 

16. Washington 

83 

643 

13 

17. Kansas SL 

83 

<25 

14 

18. Iowa 

83 

535 

21 

19. Notre Dome 

83 

511 

18 

20: Michigan 

84 

466 

15 

21. Syracuse 

83 

451 

23 

22. Wyoming 

182 

314 

22 

23. Ttons 

85 

169 

20 

24. Auburn 

84 

130 

— 

2ft Army 

182 

71 

24 

Others receiving votes West Virginia 43k 


Navy 41, East Carolina 37. Southern Miss. 22. 
Stanford lft Wisconsin 1ft San Diego St. ft 
• Virginia l Ctadwaaft— 


TENNIS 


Thur*dBy,Jaa.2 

SUGAR BOWL, AT NEW ORLEANS 
Rorkto 58 Ftorida State 20 

The AP Top 2(5 

The Tbp TW o ni y Rve teams in The 
AsoodolBd Praos final ediego toolbail poH, 
wftti fbst-ptacn voles In parentheses, final 
records, total pol me based on 2S potato fora 
fkst-piaee vote throu^i one point for a asm- 
place vote, ond IsW week's ranking: 


PERTH AUSTRALIA 
GROUP B 

South Africa U) 2. Romonta 1 
irtno SpWeo. Romonta, def. Antondo Coetzer, 
South Africa, 5-7, 6-4 6-1; Wnyne Fwreira, 
South Africa deL Adrian Vbinscc Roma rto. 7-6 
n N9). 7-6 (7^ IMiyiw Feneiia and Amanda 
Coetzer. South Africa, def. AMn Voinea and 
Irina Spirlea Rontntla 8ft 6-1. 6-1 
Switzerland Q) def. Germany 80 
Martino Hingis. Switzerland def. Petra 
Begerow. Germany. 6-1. 6-1; More Rossef. 
Switzerland, def. Bemd Kmbocher, Germany, 
7-6 (7-3). 7-6 (7-5): Marc Rosser and Martina 
Hingis. Switzerland, def. Bemd Karbodter 
and Petra Begerow, Germany. 7-S 6-1. 

South Africa meet United Slates In the iinoL 


IN ADELAIDE. AUSTRALIA 
QUAHTERRNALS 

MfcaeJ Tinstrom, Sweden, det Andrei 
Cheikasov. Russia. 6-2, ftft- Todd Wood- 
bridge (4), Australia. deL Alex O’Brien (5). 
U.S- 6-ft 6-ft Jefl Tarongo, Uft. det Jonas 


Btarkinaic Sweden. 6-1. 6-7 (7-2), 7-6 07-lSi; 
Scoft Draper. Australia, def. Karol Kucera. 
Slovakia 6-4. IS. 

OOLD COJUET CLASSIC 
HOPE ISLAND. AUSTRALIA 
QUARTERFINALS 

Elena L&twtseva (31. Russia det Rachel 
AAcOuttaV Ainrafla. 86 6-3 7-6 (7-32.- AJ 
Sugiyaina (SI, Japan, def. Sabine Appetowms 
(4). Belgium, 6-2 38 7-6 (7-0); Arme-Goefc 
SldaL Franct deL Asa Carissaa Sweden 6-26- 
X Brenda SdudD-McCarthy Cl). NettKitands. 
vs Maria Luisa Scran. Spain postponed, 
mw ZEALAND clash: 

M AUCKLAND, NEW ZEALAMI 
SENIFMALS 

Judith Wtener (2). Austria det Elena 
Wagner, Germany. 8-2, 6-1; Marion Maraska 
Austria def. Tamarine Tonosugam, Thai- 
land, 86, 6-3. 6-3. 

OAUIOKN 
IN DOHA. QATAR 
QUARTERFINALS 

Sergl Bivguera. Spain, det Petr Korda io), 
Czech Republic. 81 2-6 6-3; Hlcnam Arazl 
Moraoca def. Magnus Larssoa Sweden 7-4 
(7-Si 7-6 (7-2); Jfni Courter Mi. US. del. 
Thomas Muster (1). Austria 6-3 7-S Tim Hen- 
man. Britain, def. Magnus Gustofsson (51, 
Sweden, 6-3 7-6 (7-3). 


SKIING 


World Cup 


lafaoromen'oAlpinookflnBWerta 

Cup giant Alston on Friday In Uaribor, 


1. Sabina Panzanlni (Italy) 2 minutes 34.74 
seconds (1:1 9.40/ 1:15341. 2 equaL Ante 
Wachter (Austria) 23482 11:19.19/1:1583), 2 
equal. Deborah Campagnoni iltatyi 23482 
(1:18.79,1:1583). ft Ursko Hwral iSlouenla} 
2JS.21 ft Martins Ett (Germany) 235Ja a 
tortaSettegw (Germany) 2355ft 7. Siefonie 
Schuster (Austria) 23587, 8. Karin Roten 
(SwOzeriand) 235.7a 9. Ana Galindo Santa 
loria ISpoln) 23581, 10. Maitlno Forttani 
(Sweden) 23554. 


iilii 111 




'f rt. 


, • I.IlM 


■*_■>.** 




67 






DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 





lo^vHWeonaKi 
ChriateBe Boreetief 
Tat+'33t4143W76 
Fax: +331 4143^3 TO 

or your nearest IHTrfto 
or repewentative. 













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PAGE 20 


DAVE BARRY 


Advancing Your Career 


IAMI — Today, as part of my 
.ongoing series entitled “Advan- 
cing Your Career." I'm going ro ad- 
dress the often-asked question: Should 
you set fire to your supervisor’s beard? 

But fust I need to formally apologize 
to Harley -Davidson motorcycle riders 
for a column I wrote a couple of months 
ago in which I staled that people who 
repeatedly rev their extremely loud Har- 
ley ^Davidsons in crowded public places 
are jerks. 

Well. You talk about stirring up a 
hornet's nest. T have not received so 
much irate mail since the time I cri- 
ticized Neil Diamond. 

(NOTE TO NEIL DIAMOND 
FANS: Please don't write to me again! I 
now worship Neil as a god! 1 have a 
graven image of him to which I ritually 
sacrifice soars!) 

(NOTE TO ANIMAL-RIGHTS AC- 
TIVISTS: I'm just kidding!) 

(NOTE TO NEIL DIAMOND 
FANS: Not that I am saying Neil is not 
worthy of goat sacrifice!) 

In their ieners to me. the Harley- 
Davidson people made four basic 
points: 

1. 1 am scum. 

2. There are important mechanical 
and safety reasons why Harley-Dav- 
idson engines need to be extremely loud 
and revved a lot. 

3. 1 am lower than scum. 

4. Perhaps I would like to have my 
skull crushed like a ping-pong ball un- 
der a freight locomotive. 

□ 

Here are some actual unretouched 
quotations from the letters I received: 

“Dear mr Barry yes you are a Looser 
and yes you are anal retentive. ’ ’ 

“You are an idiot! You should be 
writing you're so called journalism for 
National Inquirer." 

"My loud Harley might catch your 
anention from concentrating on singing 
your favorite Barry Manilow song.” 

“You (bleeping] polyester buying, 
penny loafer sporting, polka-dot tie 
wearing, bus riding, no life having, 
[bleep]." 

So 1 want to make this sincere statement 
of apology to those Harley riders whom I 
have offended: Don't EVER accuse me of 
Listening to Barry Manilow. 


(NOTE TO BARRY MANILOW 
FANS: Just kidding! I love Barry's 
waik!) 

OJC, now that we’ve cleared that up. I 
want to share with you an item from a 
newsletter published by the Utah De- 
portment of Employment Security, sent' 
to me by an alert reader. The newsletter 
has a feature entitled YOU BE THE 
JUDGE, which presents a case concern- 
ing whether a company was justified in 
discharging an employee (referred to as 
die "claimant”). Here are the facts: 
“During a disciplinary discussion 
with his supervisor, the claimant lit the 
supervisor's beard on fire with a ci- 
garette lighter.*’ 

“Shortly thereafter, the claimant re- 
fused to follow instructions from bis 
trainer and, when rebuked, the worker 
pressed a post-it hare on the trainer's 
forehead.” 

Oil.! You be the judge! Was the 
employer justified in finng this person? 

Time’s up! The answer, according to 
the Utah Department of Employment 
Security is: Yes, the employer WAS 
justified. The newsletter points out that 
‘ ‘not only is setting a person's beard on 
fire dangerous." but also the forehead 
post-it note indicates “an absence of 
professional behavior.” 

Speaking of assaults, I have here a 
chilling news Hem from the Asbury Park 
Press, alertly sent in by John F. Coffey 
2d, Attorney at Law. 

“A Belmar man who was throwing 
uncooked pasta out the window was 
charged by police with stabbing a mac 
who was hie by rigatoni, police said." 

The article stales that the victim and 
some friends were walking on the street 
at about 2 A.M- when “some people in 
an apartment began throwing uncooked 
pasta out the window at them." Words 
were exchanged, and the pasta-wielding 
perpetrator allegedly came out of the 
apartment and stabbed the victim. Ac- 
cording to a police spokesperson. “He 
must have hit him in an artery because 
be was gashing blood.” 

The victim survived, but this tragic 
incident serves as yet another reminder 
to us all that, when we feel stress or 
anger, we must NOT. in a rash moment, 
unthinkingly reach for the rigatoni. 
e/996 The Miami Herald 
Distributed by Tribune Media Sen-ices Inc. 


Carrying a Tune With Woody Allen 


International Her aid Tribune 

P ARIS — Woody Allen's “Everyone Says I Love 
You.” which will shortly open worldwide, is a 
party balloon of a film, beautifully shot as usual, or 
perhaps even more beautifully since it is set in Paris. 
Venice and New York’s serenely plush Upper East 
Side, with a full-throated score of golden oldies and 
the usual star cast (Alan Alda, Goldie Hawn, Julia 
Roberts, 11111 Roth) eager just to be in an Allen film 
although they soon found there was a downside. It is 
a musical and they were all expected to sing. 

Alien, who was spending the holidays at the Paris 
Ritz, says he never asked if they could carry a tune. 

MARY BLUME 

“I didn’t know and didn’t care. I knew I couldn’t,” 
he added although he does a perfectly credible down- 
cast job on “I’m Through with Love.” 

"I always wanted to do a film where the people 
sang whether they could or noL I didn't want the 
Frank Sinatra or Pavarotti perfection. I’d seen my 
mother and father dancing at their anniversary and 
they weren't very good but my heart went out to 
them. That's what I wanted.” 

And that's what he got in an affectionate fable 
about the extended family that results when a di- 
vorced couple become friends instead of sinking into 
discreet loathing as they did when he was young. 
"Quite an improvement, I think, and this is what I 
wanted to write about because there's something 
beautiful about that. I think it's a fresh relationship 
that has not been explored much in film and it’s very 
good for musical comedy.” 

In conversation, Allen is affable and attentive; if 
something amuses him be will, with a comic's econ- 
omy, say ' ‘that's funny' ’ rather than laugh. He writes 
every day. tossing ideas into a drawer, and describes 
his approach to work as spartan. To break the writer’s 
solitude he bounced ideas off Diane Keaton and Mia 
Farrow in the past and Sooa-Yi Previn now, but he 
doesn't read reviews, see his films once they are 
released, modify his vision or regret films like 
“Shadows and Fog” or “September,” which he 
describes as hugely disliked. 

“It's tunnel vision. If you just think of your work 
and work, life will take care of itself. I feel that once 
1 lose sight of the main thing, which is the work itself, 
I'm going to make a terrible mistake for myself, so I 
don't do it” 

He has been criticized for a glossy view of New 
York but as he says, “I see New York expres- 
sionisticaily, it's like seeing a blue banana in a 
painting or something. It’s a dreamland, I admit.’ ’ 
The Brooklyn boy’s dream became reality when be 
moved ro Fifth Avenue, but he firmly keeps it as a 
dream, charmed when he takes breaks from writing 
at the sight of men in dinner jackets, women in jewels 



Allen: “I always wanted to do a film where 
the people sang whether they could or not. 7 * 

and children being chauffeured to Chapin or 
Spence. 

“It is the closest thing I can think of in real life, 
although it probably doesn't exist in real life, to the 
old champagne cork popping life of the old musicals 
when men wore tuxedos ana threw open the French 
doors and were never at a loss for a perfectly con- 
ceived bon mot'* 

He is now editing what he calls a nervous comedy. 
“Deconstructing Hany," in which he plays “a 
writer with a chaotic life, very neurotic, and his erotic 
life and trying to get it into focus in some way.” He 
says that the characters he plays in his films are not 
him, although they are circumscribed by his limited 
acting range, but he reckons that people will prob- 
ably think Harry is him just as they thought he was 
Sandy Bates in “Stardust Memories." 

It didn 't matter about Sandy Bates. The unpleasant 
Harry clearly does matter — Allen mentions the 
likely confusion with himself twice — in view of the 
horrendous publicity since his break-up with Farrow 
in 1992. Still, he refuses to censor himself. 

“I'm very good, for better or worse, at com- 
partmentalizing so I don't have that problem. Some- 
times to compartmentalize is not a very good thing to 


do and creates problems and at times in my life ithas 
, ■_ *kiq narticular instance ft was a great 

able 10 w 0 A and be 
keep my private and my protessional 

WK3S . ~ sas a 



written 
partner 

SSflSSaS-i O^iiiabie chanu^r and 
» me » be litod „ 

“I Luce to be liked by my friends, it s “J 
be loved, but it’s a teuible mistake for someone 
functioning in an an form to make thatmto aentmon 
bSuse then you do censor yourself, 
thinking of projects to ingratiate yourself and that 

wav lies death- ' ' . 

At present he is fighting a court nilmg 
limiting his visiting rights ro bis nnd Farrow s 
childnm. “It’s a tenable tragedy in my life and for 
the children. I can only do what I have been doing, 
and again this is compaitxnentalization. I can only 
try to work and lead as full a life as I can ana right n 
in the courts to the maximum. Yes, I am angry buti 
want to be —being the great sports fan that I am — 
like the prizefighter who doesn’t panic or blow his 
fight and fight the other person’s fight. Y ou want to 
fight the way you originally intended and keep your 

cool.” . . , _ . 

Strangers do not denounce him m the streets, be 

says, but men do come up and pull out of their wallets 

photographs of children they haven’t seen for seven 
years because they lacked the funds for a long court 
battle. “I at least have been able to fight so I consider 
myself in a sense lucky, but it is a terrible in- 
justice.” . . 

Writing and its equivalent, editing, are the best 
parts of filmmaking for him — he doesn’t like 
shooting and his sets are famously joyless — and 
now that he has just turned 61 and has made 26 films, 
he is starting to think he will never make one that is 
great _ 

“I’m not asham ed of my films. I don’t mean to be 
falsely modest I think some of them are good, some 
of them are less than good but 1 am starting to have a 
comprehension of my upper limits — I can make 
films that are often amusing and often enjoyable to 
people but I can’t seem to get above a certain level. 

“My feeling is my career in films can't go on 
forever. I’ll eventually be unbankable or in a wheel- 
chair — who knows, but I won’t be able to get out 
there and make films my whole life so I have some 
ideas for novels thin I would like to sit home and 
write.” 

And continue to enjoy other people’s movies. 
* ‘Fellini says he never sees the mechanics of a movie. 
He's always caught up in the story and so am L I am 
always fooled.” 


LEGACIES 


PEOPLE 


Jerry Gordons Wives Slug It Out in Court 


By Tim Golden 

iVfvr Kv* Timet Service 

S AN RAFAEL, California 
— As the spiritual leader 
of the Grateful Dead, the gui- 
tarist Jerry Garcia went to 
great lengths to escape con- 
vention. And for most of his 
life, it looked as if he was 
making an immaculate get- 
away. 

Starting out in the San 
Francisco of the psychedelic 
1960s. he built one of die 
most successful bands in rock 
V roll without sacrificing his 
music to the commercialism 
rampant in the industiy. He 
drifted into and out of rela- 
tionships with women but re- 
mained publicly beloved by them alL 
Even after he died a rock star's death in 
1 995 — his 53-year-old heart seized up 
during his stay at a drug treatment center 
— he was eulogized as a beacon of 
integrity and hope in an often petty 
music world. 

Scarcely a year after his death, 
however. Garcia's free spirit is 
haunted by a cheaply orthodox 
celebrity ending: New tales have been 
told of his drug addiction, loved ones 
have confessed that toward the end he 
went on stage not so much because he 
loved to piay as because he needed the 
cash, and now former wives are fight- 
ing bitterly over the money he left 
behind. 

“I wouldn’t wish this on my enemy,” 
one of his daughters, Annabelle Walker 
Garcia, 26. said as the other day she 
surveyed a scrum of lawyers and re- 
porters outside Courtroom E of the Mar- 
in County Hal! of Justice here. “Die 
problem is that mom and dad had a real 
hippie relationship, and you cannot ex- 
plain a '60s relationship in legal 
terms.” 

The last of Garcia's three wives, De- 
borah Koons Garcia. 47, is nonetheless 
trying to do just that. Having cut off 
payments on a $5 million settlement that 
the guitarist signed in 1993 with An- 
na belle's mother. Carolyn Adams Gar- 



ft*er (taSSm/lhe JVw tort Tunc 

Deborah Koons Garda, left, and Carolyn Adams Garda. 

cia. Koons Garda is arguing that all the 
talk of free love and flower children is 
little more than a smokescreen behind 
which her rival is trying to fleece the 
musician's estate. 

“Fleece" is not the son of term 
Koons Garcia uses to make this point; 
much of her vocabulary on the subject 
cannot be printed in a family news- 
paper. 

“Jerry bad a variety of relationships 
with women, and she was the one he 
disliked the most," Koons Garcia said 
in one of her more even-tempered re- 
marks on the subject of Adams Garcia, 

49. “That was the thing about the whole 
communal deal in the ’60s: you couldn't 
get rid of anybody." 

To the Deadheads, as devout fans of 
the band are known, such aspersions 
might be blasphemy enough. To many 
of them, Adams Garcia lives on in 
legend as Garcia's main muse, or 
Mountain Girl, the name she was given 
as one of the Merry Pranksters who 
accompanied novelist Ken Kesey at 
the Acid Tests, in which thousands of 
people were introduced to LSD before 
it was outlawed in California in late 
1966. 

The Dead, which fused elements of 
bluegrass, folk, rock and country music 
in an electrified improvisation^ mix, 
provided live sound for many of the 


tests. And not long after the 
tests had ended, Adams and 
her daughter by Kesey. Sun- 
shine, moved in with Garcia 
at the band's communal 
house at 7 10 Ashbury Street 
in San Francisco, a nerve cen- 
ter of the counterculture. 
Adams was still married then 
to one of the sometime- 
Pranksters. George Walker, 
and Garcia had just separated 
from his first wife, Sara Rup- 
penthal Garcia, with whom 
he had a daughter. Heather. 

From that unconventional 
beginning, the couple went 
on to have a lengthy and 
steadfastly unconventional 
relationship. 

Adams Garcia, the strong- 
willed, articulate daughter of upper- 
middle-class parents from Poughkeep- 
sie, New York, was for some years a 
loyal young wife equivalent, cooking 
for the household and sometimes ac- 
companying the band on the road. Later, 
at several residences across the Golden 
Gate Bridge in Marin County, she 
settled into rearing Sunshine, Annabelle 
and Theresa — a second daughter with 
Garcia — who was born in September 
1974. 

Adams Garcia denies a story, told by 
associates of the band, about a time in 
1974 when she supposedly encountered 
a young Deborah Koons at the home of 
a band member and threw her through a 
door. But there is little question that 
Garcia's family life began to unravel not 
long after Deborah Koons hopped on 
the Dead’s bus ai the conclusion of a 
show in New York, and sat next to him 
for the ride back to Manhattan. 

As bitter as the rivalry has become, 
both women have at times seemed to 
recoil at what the trial has done to the 
memory of Garcia's gentle soul. No 
one at the court, though, has yet in- 
voked the meaning of the type of Brit- 
ish folk ballad from which the band 
took its name. 

“Grateful dead” refers to a song in 
which people help a ghost to find 
peace. 


P RESIDENT Bill Clinton 
has selected a few house- 
hold names, including the 
actor Robert Redford, the 
composer Stephen Sond- 
heim, the illustrator Maurice 
Sendak and fee journalist 
Bill Moyers as the recipients 
of the National Medal of Arts 
and the Charles Frankel 
Prize. They are the govern- 
ment’s highest honor for in- 
dividual artists, writers and 
scholars. The National Medal 
of Arts also will be given to 
the playwright Edward Al- 
bee, the opera conductor 
Sarah Caldwell, fee photo- 
grapher Harry Callahan and 
the bandleader Lionel 
Hampton. 

□ 

Ivana Trump's dream- 
boat is a lemon, or so she says 
in a lawsuit in which she is 
trying to recoup the $4.1 mil- 
lion it cost, plus $35 million 
for emotional distress. Trump 
bought the yacht, called MY Ivana, 
loaded wife luxuries including a pear 
wood interior and a Jacuzzi, in July 
1995 from the Italian boat builder 
Cantieri di Baia Corp. When she bought 
the boat, her former husband, Donald 
Trump, was none too pleased “This 
money was given to you for your pro- 
tection and so feat it may someday go to 
fee children," he wrote to his ex-wife. 
“I sure as hell did not give it to you so 
that it goes to your next husband — 
whomever that may be." 

□ 

President Nelson Mandela’s former 
prison cell is now a tourist attraction. 
The first tourists have been admitted to 
South Africa's notorious Robben Island 
prison, the main attraction of fee newly 
declared Robben Island National 
Monument Die island prison, now 
m a n aged by the Ministry of Art and 
Culture, closed in December and the 
remaining prisoners were transferred to 
mainland cells. Tours now take in fee 
notorious Section B of fee prison, where 
Mandela was held. The president spent 
18 of his 27 years in prison on the 
island. 



TbroBQyVTTBi AMo ci a n-rf pas* 

WHO’S LOOKING AT WHOM? — Keiko, the star of the “Free WiBy” movies, 
swimming on his side to examine visitors at the Oregon Coast Aquarium, On Jan. 
7, Keiko, an orca whale, will have been in the Newport facility for one year. 


Boutros Boutros Ghali, who has just 
stepped down as secretary-general of 
the united Nations, has signed wife fee 
Hany Walker Agency in New York, 
which arranges remunerative speaking 
tours for international figures. Among 
fee agency’s clients are Henry Kis- 
singer, Mario Cuomo, Jeane Kirk- 
patrick and Boutros Ghali's prede- 
cessor, Javier Perez de Cuellar of 
Peru. 

□ 

Burt Reynolds, whose bad invest- 
ments cost him the riches he earned 
from three decades of acting, says he 
will "grow up” and pay off his $11 
million debt “I’m certainly going to 
simplify my life a little bit,” a grim 
Reynolds said, after meeting with cred- 
itors. “I do not have a van,” he said. “I 
do not have a motorcycle. I do not have 
a lot of jewelry. I do not drink. I do not 
gamble. I’ve reached an age when I'd 
better grow up." 

□ 

After 15 years. Bryant G umbel, 48, 
has left the “Today” show. Friday be 
gave an emotional salute to his col- 


leagues. 4 ‘It has been areal pleasure and 
a genuine privilege to represent this 
program and the wonderful, wonderful 
people who put it on,” he said. “I’ve 
had a great time, I redly have. I hope 
that you all enjoyed it a fraction as 
much.” Hillary Rodham Clinton, 
former president George Bush and act- 
ress Sandra Bullock, and fee actors 
John Travolta, Tom Cruise and Jeff 
Daniels paid tribute on tape. 
Muhammad All and the writer Maya 
Angekm woe there in person. 

□ 

Good Golly Miss Molly! Little 
Richard is getting honored at the 24th 
a nn ual American Music Awards this 
month. The Award of Merit salutes him 
as “a founding father who sent rock V 
roll into orbit wife his supercharged 
performances and . spirit.” Little 
Richard, whose real name is Richard 
P en oi man, is known for such hits as 
“Good Golly, Miss Molly.” “Tutti 
Frutti” and “Long Tall Sally.” Past 
winners include Bing Crosby, Irving 
Berlin, EBa Fitzgerald, Beany Good- 
man, Paul McCartney, Elvis Presley, 
Willie Nelson and the Beach Boys. 



8»ia«n ui 
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