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INTERNATIONAL 



PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


The World's Daily Newspaper 


** 


London, Thursday, January 30, 1997 



Currency Markets Asks 
What Is Dollar Worth? 


For Germans , 
Appropriate 
Level Is Near 


By Erik. Ipsen 

I emotional Herald Tribune 

LONDON — The dollar retreated 
against the Deutsche mark Wednesday 
after hints from die head of Germany’s 
central bank that the American cur- 
rency’s 22-month rally had gone just 
about far enough. 

After months of sporadic statements 
welcoming the advancing dollar, the 
Bundesbank's chief, Hans Tietmeyer, 
signaled a change of heart, saying that 
the dollar's “normalization” against 
the mark had nearly reached its end. 

’ “I believe that the process of nor- 
malization will soon come to an end.” 
be said in Bonn. “The Deutsche mark 
will remain a strong mark.” 

Since hitting a postwar low of 13455 
DM in March 1995, the dollar has sow 
risen 22 percent, and by 5 percent in the 
last month alone. It closed in New York 
at 1.6443 DM, down from 1 .6474 DM. 

Mr. Tietmeyer 's concern left cur- 
rency markets pondering several crucial 
questions: What exactly is the normal 
level for the dollar against the Deutsche 
mark, or the yen for that matter? What 
power do authorities have to hold their 
currencies to levels they themselves 
deem appropriate? 

The butter question weighs heavily on 
the minds of currency traders just now, as 
leaders of the seven largest industrial na- 
tions, die so-called Group erf 1 Seven, pre- 
pare for their meeting Feb. 8 in Bedim. 

See DOLLAR, Page 12 


For Japanese, 
Yen’s Slide 
Goes ‘Too Far ’ 


By Andrew Pollack 

New York Times Service 

TOKYO - — When the yen began its 
dramatic rise four years ago, executives 
and government officials here screamed 
that the strengthening currency was 
choking Japan 's economy. Now that the 
yen has fallen hack to near the level of 
four years ago, it would seem Japan Inc. 
should be shouting “Hallelujah.” 

Instead, they are worried again. Fi- 
nance Minis ter Hiroshi Mftsuzuka said 
last week that the weakening of the yen 
"has gone too far.” Some executives of 
electronics and automobile co mpan ies 
now say they would prefer a level of 1 10 
yen to die dollar, not fflecunent level near 
120 yen. 

What has happened, executives and 
analysts say, is that the structure of the 
Japanese economy has changed. Partly 
to escape die effects of the strong yen, 
export-oriented companies moved 
much of their production out of Japan, 
began importing more components, and 
cut costs in other ways. 

That has made diem less vulnerable to 
the rise of the yen, but also means they 
now benefit less when the yen falls. 

“The Japanese economy is less sen- 
sitive to foreign currency fluctuations.” 
said Mineko Sasaki-Smith, chief econ- 
omist of CS First Boston in Tokyo. The 
yen’s depreciation, she added, “doesn’t 
have the reflationary impact on the 
economy that it had in the past, and we 



Saecd WuBlhgaKC IViim-Pwu* 

BHUTTO LOSES APPEAL — Backers of former Prime Minister Benazir Bhutto, rallying Wednesday in 
Larkana, Pakistan. In Islamabad, the Supreme Court upheld the dismissal of her government. Page 4. 


See YEN, Page 6 


Toyota Links Investments 
To UJL’s Embrace of Euro 


By Erik Ipsen 

International Herald Tribune 


LONDON — Toyota Motor 
shifted the debate over Europe’s 
currency from the theoretical to the prac- 
tical Wednesday, reportedly threatening 
to limit its future investments in Europe 
io countries that are part of the European 
Union's planned single currency. 

That would be bad news far Britain, 
which has received die bulk of the Jap- 
anese carmaker’s billions of dollars of 
investments in Europe so far and which 
shows little inctinanon to quickly climb 
onto the single-currency bandwagon. 

Rather than threatening an outright 
withdrawal from Britain should its gov- 
ernment shun the single currency, 
Hiroshi Okuda, Toyota’s president, said 
in Tokyo that the company would simply 
pit its British stakes on bold. 

“But if we were to make fresh in- 
vestments, we would prefer to make 
them in Continental Europe rather than 
Britain,” Reuters quoted him as saying. 
In London on Wednesday, a Toyota 
spokeswoman said she could not con- 
firm the report. 

Alan Marsh, vice chairman of Toyota 
Motor Europe, told The Times last week 
that his company was alarmed that some 
Conservative Party politidans who were 
skeptical of the EU’s unity plans were 
talking not only of rejecting the single 
currency but also of pulling out of the 
Union altogether. That, he said, “would 
be of great concern to Toyota.” 

But a spokesman for Honda Motor 
Co., which also has a big presence in 
Britain, said late Wednesday, “We are 
totally committed to the investment in 
Britain, irrespective of whether Britain 
joins EMU,” Agence Frtmce-Presse re- 
ported from Tokyo. 

A British spokesman for Nissan added 

that it did not agree with the Toyota 


president's repeated views. "We think 
Britain is the right place to be,” he said. 

(The government reacted quickly to 
Mr. Okuda’s comments, Reuters report- 
ed from London. A spokesman for 
Prime Minister John Major said. “I am 
not going to take it at face value.” But he 
pointed to Toyota’s announcement last 
year that it would invest an additional 
£200 million ($322 million) to increase 
capacity at its plant in Derbyshire, 
which would create about 1 ,000 jobs. 

[“That indicates to me great con- 
fidence in the United Kingdom,” the 
spokesman said. Saying that figures 
showed Britain was stiu the leading 
destination for investment into Europe, 
he added, “The United Kingdom is the 
place to be and will remain so.”] 

While other business leaders — for- 
eign and domestic alike — have long 
insisted that their plans in Britain hinged 
on the counfry remaining part of 
Europe's single market, none has ever 
taken a similar line with regard to par- 
ticipation in the single currency. 

Manufacturers’ ability to make 
everything from cars to computers in 
Britain and sell them cm the Continent 
has long ranked as a business essential. 
But while surveys generally show big 
business favoring the single currency, 
none have called ft a make-or-break 
factor for further investment is Britain. 

See TOYOTA, Page 6 


At Spanish Church , 
Donations by Visa 

A church in northern Spain has 
installed a so-called electronic alms 
box at its entrance. 

At San Claudio's Church in the 
city of Lean, the faithful can make a 
donation by inserting a bank or 
credit card in the machine and 
punching in an amount It provides 
a receipt that can be used to claim a 
tax deduction. 

The electronic alms box is be- 
lieved to be the first of its kind in 
Spam, according to die Spanish 
Episcopal Conference in Madrid. 

The reason for the machine, one 
of the priests at the church, the 
Reverend Roberto Asenjo, said, 
was to keep up with the times, 
because “there are many people 
who don’t cany cash to Mass.” 

The method would also reduce 
theft from the alms box and would 
allow parishioners to make dona- 
tions whenever they wanted to, 
priests said. 

The Reverend Mario Gonzalez, 
secretary-general of the Leou dio- 
cese, said: “It’s not that people 
weren't helping the church. But 
they need to help more.” Page 7. 


Duping the Desperate 

Scams Bedevil Once- Communist East Europe 


By Edmund L. Andrews 

New York Times Service 

FRANKFURT — As Albanian lead- 
ens began blaming one another this 
week for a series of investment swindles 
that have cost people hundreds of mil- 
lions of dollars, experts said the debacle 
fit neatly with a pattern that has now 
bedeviled almost every formerly Com- 
munist country in Europe. 

The collapse of Albanian pyramid 
schemes in the last two weeks, igniting 
riots in Tirana, the capital, and other 
cities, was almost identical to calamities 
forteasof thousands of people duped by 
similar schemes in Russia. Romania, 
Bulgaria. Serbia and other places. 

In each pase, companies bombarded 
people with promotions that guaranteed 
phenomenal returns on their invest- 
ments — 30 percent a month, in the case 
of one Albanian scheme. The schemes 
have typically had a carnival quality: 
they were not predicated on investing in 
a new company or real estate, but rather 
on the magical allure of making money 
from nothing. 

By Western standards, the schemes 


are breathtaklngly transparent Pyramid 
orPonzi schemes have been a part of the 
history of the United States and other 
developed capitalist countries. Most of 
them outlawed these operations a long 
time ago. but they continue to crop up in 
new variations. Strictly defined, a pyr- 
amid scheme is an enterprise that re- 
wards initial investors or customers 


Only the poorest will be reimbursed 
first, Albanian leader says. Page 7. 

with the money paid in by later cus- 
tomers. 

The guarantees of huge profits in 
Albania were impossible. The pro- 
moters offered no explanations for how 
profits woilld be made. The advertise- 
ments, dwelling on linages of fast cars 
or exotic beach vacations, would raise 
an immediate red flag in the United 
States or Western Europe. 

Yet hundreds of thousands of people 
in the former East Bloc have flocked to 
such schemes. According to one ana- 

See ALBANIA, Page 7 


U.S. Sees 
Struggle 
For Power 
In Baghdad 

Saddam 9 s Wife 
Under House Arrest, 
Senior Officer Says 


By Brian Know! ton 

Iniemanonol Herald Tribune ^ 

WASHINGTON — Bolstering re- 
ports of ferment in Iraq, the White 
House claimed Wednesday that “com- 
plicated internal struggles for power” 
were swirling around the regime of Sad- 
dam Hussein. 

Hie comment from Michael Me- 
Curry, the White House spokesman, fol- 
lowed a briefing by a Pentagon officer. 
General J. H. Binford Peay, commander 
of the U.S. Army Central Command, 
who reported that Mr. Saddam's wife 
was under house arrest in Iraq and that 
Mr. Saddam's son Udai, often con- 
sidered the Iraqi president's heir ap- 
parent, might lose a leg from gangrene 
and could be paralyzed" as a result of an 
attempr on his life last month. 

Asked about the Pentagon report, Mr. 
McCuny said, “There have been some 
things that have happened there recently 
— the attack upon Hussein's son — 
there are obviously things that have 
been reported publicly that would in- 
dicate that there are some internal mach- 
inations.” 

Separately. Nicholas Bums, the State 
Department spokesman, said there was 
no evidence of any threatening military 
maneuvers by Mr. Saddam. but added, 
“We're watching him.” 

Reporters questioned Mr. Bums, at a 
regular State Department briefing, cm 
why the government might want to raise 
die specter of Iraqi instability at this 
point, by “stirring die waters on Sad- 
dam," as one put iL 

“I aro not aware of any stirring of 
waters anywhere in Washington," Mr. 
Bums replied. 

But Lawrence Kotb, a former assist- 
ant defense secretary in the Reagan ad- . 
ministration who is a senior fellow with 
the Brookings Institution, said there 
were several reasons for the adminis- 
tration to draw attention to Iraq. 

First, he said, the new security team 


See IRAQ, Page 7 


U.S.’s Training of Bosnians: Smoothing Its Exit? 


By Bradley Graham 

Was/ringuui Post Service 


TESANJ, Bosnia-Herzegovina — As Bosnian 
Muslim soldiers spread out to practice defending a 
snow-covered hill one day recently. Bob Oberlender, a 
retired U.S. Army sergeant, moved among them, ad- 
vising where to set up machine guns, where to aim 
rifles and what to do if a squad member got shot 

The Bosnians listened intently, eager to learn the 
American way of fighting. They said that if the in- 
struction had come earlier, ft would have helped them 
defeat the Serbs. But at least it is coming now, they 
added, preparing them better for the next war. 

“These lessons are all very useful to know,” said 
Mohamed Turfces, 20, crouched with his AK-47 rifle 
under a beech tree only a mortar shot away from 
Bosnian Serb territory. “You never know what will 
happen next here." 

While NATO-led forces try to secure an unsteady 


peace in Bosnia, a small corps of retired U.S. military 
personnel — with official American backing and 
financing from the United States and Islamic countries 
— is running an unusual effort to turn worn soldiers 
into a freshly intimidating array. By rearming and 
retraining the Bosnian Muslims and Croats, who were 
outgunned by the Serbs during Bosnia's tiiree-and-a- 
half-year war that ended in 1995, the program’s pro- 
ponents hope to establish a rough balance of military 
power in the region and ease the withdrawal of foreign 
troops. 

It is an enormously ambitious undertaking, given 
how poorly trained and ill-equipped the Muslim and 
Croat military forces are. Complicating matters, most 
European governments want no part of the program, 
and some senior U.S. military officers have reser- 
vations about it too. 

Pouring new weaponry and military instruction into 
the Balkans, they say, is an invitation to renewed 
conflict and undercuts enforcement of arms-control 


limits. Some European officials also worry that as 
tensions inevitably rise over refugee resettlement and 
other issues, the Bosnians, emboldened by their new 
American training and weapons, could turn against 
peacekeeping forces. 

NATO commanders in Bosnia are monitoring the 
program closely and giving it little leeway, restricting 
where and when Bosnian units can train. This month, 
peacekeeping forces seized part of a U.S. tank-am- 
munition shipment, asserting that the Bosnians had 
underreported the number of rounds, an accusation 
U.S. government sponsors disputed. 

“One side in Bosnia is being built up before the 
peace agreement has taken root," Hrair Balian, who 
heads the Sarajevo office of the International Crisis 
Group, a nonprofit watchdog organization, com- 
plained about the program. 

“With tensions likely to rise in the next six months. 

See ARMY, Page 7 


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+7.48 

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4 15 


Newsstand Prices 


Bahrain ......1 .000 Din Malta 55c. 

Cyprus-. C.C1.00 Nigeria -125.00 Naira 

Denmark. ,,14.00 D.Kr. Oman — 1-250 Rials 
Finland ..... 12.00 FM Qatar a 00 Rials 

Gibmlter JEQJ35 Rep. Ireland. JRE 1-00 

Greet Britain.. JE 0.90 Saudi Arabia .10.00 R 

Egypt J3s 5.50 S. Africa -R12 + VAT 

Jordan,. 1250 JO UAE 1000 DMi 

Kenya, K. SH. ISO U.S. m — S 1-20 

Kuwait .BOORS 2nfc8taa-.anS30.00 




77Q294 M 805049 1 


0 5. 


AGENDA 

Mideast Leaders 
Set Clinton Visit 

WASHINGTON (Reuters) — The 
leaders of Israel, the Palestinians. 
Egypt and Jordan will hold separate 
meetings with President Bill Cuntoa 
in the next two months, the White 
House announced We d nesday. 

Michael McCrary, the White House 
mess secretary, said Prime Minister 
Benjamin Netanyahu of Israel would 
visit Washington on Feb. 13; Yasser 
Arafat, president of the Palestinian 
Authority, on March 3; President 
Hosni Mubarak of Egypt on March 10, 
and King Hussein of Jordan on March 
18. 

The working visits had been ex- 
pected, but dates had not previously 
been set 

New York Applies 
Pressure on Swiss 

NEW YORK (Reuters) — The city 
and state of New York sent warnings 
Wednesday they would make ft bard 
for Swiss banks to' operate in New 
York unless the Swiss created a fund 
for Holocaust victims. The state as- 
sembly will determine how to revote a 
foreign bank's license or certification, 

and me city council chief filed a bill to 

bar city deposits in Swiss banks. 

Related article. Page 7 



PAGE TWO 

Movers and Shakers Meet in the Alps 

THE AMERICAS Page 3. 

FBI Lab's Reputation Put in Doubt 


UftwM«U 1 lK ‘ 

HERE'S MR. AMBASSADOR! — Senator Jesse Helms, right, with 
Bfll Richardson, nominated as U.S. ambassador to the United Nations. 
Mr. Helms predicted an easy confirmation at a bearing Thursday. 

U.S* Callback Firms 
Face New TaxinEU 

The European Union moved Wed- 
nesday to close a tax loophole that 
helps American companies make mil- 
lions by offering Europeans cheap 
international phone calls. 

Responding to requests from all 15 
EU member nations, the European 
Commission proposed that a value- 
added tax be imposed on non-Euro- 
pean phone companies to protect 
European operators. (Page 11) 


ASIA/PACIFIC 

China Urges Koreas to 


Pag* 4. 


Books. 


Crossword. 
Opinion- 


Page 10. 
Page 10. 


Sports. 


Pages 18-19. 


miunmkma i C t mtttotf 


Page 4. 


A Prediction for China 

Triumph of Liberty Is Inevitable, Clinton Says 


m 


.£V, 


By R.W. Apple Jr. 

New York Times Service 


WASHINGTON — President Bill 
Clinton said that his doctrine of “con- 
structive engagement” with China had 
failed to engender the progress on hu- 
man rights last year that he had hoped it 
would, but he added thar he stiU be- 
lieved “that the policy we're following 
is the correct one." 

At a moment when Washington and 
Beijing are in the process of setting up 
reciprocal visits between Mr. Clinton 
and President Jiang Zemin of China, the 
president came close Tuesday to pre- 
dicting the ultimate demise of the Com- 
munist government. 

“I believe that the impulses of the 
society and the nature of the economic 
change will work together," he said, 
"along with the availability of infor- 
mation from the outside world, to in- 
crease the spirit of liberty over time.” 
Mr. Clinton added: * T don 't think that 
there's any way that anyone who dis- 
agrees with that in China can hold that 
back. I just think it’s inevitable, just as 
inevitably the Berlin Wall feU.” 
Administration officials said that the 
annual U.S. report on human rights 
around the world, due to be made public 
Thursday, would sharply criticize 
China. It is said to conclude that r^.-c 
are no active ctissideats left in Chin:: all 
having been Jailed or sent into exile. 
One official said the report made no 


effort “to disguise China's retreat on 
human rights in 1 996. ’ ’ 

[China hit bock at the criticism of its 
human rights record, accusing Wash- 1 
ington on Wednesday of prejudice over 
the issue and saying its successful pro- j 
tection of freedoms was “obvious."; 
Agence France-Presse reported from 
Beijing. 

[The Foreign Ministry in Beijing is- f 
sued a statement saying that only 1 
“people without prejudice" could: 
make a fair judgment on the human ’ 
rights issue. * 

[“It is obvious for all to see that the j 
Chinese government always protects j 
and promotes the legal rights of all its l 
peoples in accord with the constitution j 
and law," die brief statement said.] £ 
The president's concession that his 
China policy had produced disappoint- 
ing results represents a distinct shift 
away from optimism. 

Mr. Clinton has declined to treat pro- 
gress rat human rights or on restricting 
the spread of nuclear weapons as pre- 
requisites for high-level meetings and 
preferential trade status. His critics say 
this policy has the effect of putting 
economic considerations ahead of all 
others and taking the pressure off 
China’s leadership. 

The president disagreed. He said he 
still believed that working with China 
on issues "where we can agree” and' 

See CHINA, Page 6 


■s\i 






** 


INTERNATIONAL HERALD TRIBUNE, THURSDAY JANUARY 30, 1997 

PAGE TWO 




Free-Market Forum / Wingtips in the Snow 


At Davos, Networking for the Wbrld’s Most Powerful 


By Craig R. Whitney 

New Yuri Times Senve 


D AVOS, Switzerland — Starting 
Thursday, this Alpine ski resort will 
be the place to be — at least for the 
likes of Bill Gates. Microsoft’s 
chairman, and John Welch, the chairman of 
General Electric. 

Newt Gingrich, the speaker of the U.S. 
House of Representatives, will also be there, 
rubbing shoulders with Boris Berezovsky, 
Boris Yeltsin's deputy national security chief 
and one of the most powerful executives in 
Moscow, and Kofi Annan, the new UN sec- 
retary-general. 

The snow-covered streets will crunch under 
wingtips and usseled loafers instead of ski 
boots, and famous names will jostle in the 
corridors of pricey hotels like the Derby and 
the Belvedere. 

The occasion is the six-day annual meeting 
of the World Economic Forum, a gathering of 
political and business movers and shakers 
from all over the world. 

The meeting and smaller forums in Africa, 
Asia, South America and elsewhere through 
the year have become powerful attractions, 
with hundreds of business leaders paying the 
$20,000 entrance fee per company to come to 
Davos to hobnob. 

To many critics Davos, with its closed-door 
meetings of executives pursuing contracts and 
contacts with top politicians and pundits, sym- 
bolizes the new economic orthodoxy of the late 
20th century. 

Counter- Davos conferences have been or- 
ganized to fight the idea that global free- 
marker forces will inevitably triumph over 
government attempts to regulate, or that the 
elite that gathers in Davos has any claim to set 
the world economic agenda. 

But with the companies represented in Da- 
vos doing an estimated $4.5 trillion a year of 
business, and people like Prime Minister Ben- 
jamin Netanyahu of Israel. President Hosni 
Mubarak of Egypt and the Palestinian leader 
Yasser Arafat all in Davos, the opposition view 
can seem like a cry in the wilderness. 

Skeptics say that it's all just a lot of talk 
without a payoff, and that it takes about as 
much money from the attendees as a global 
financial pyramid would. 

"It’s the world’s greatest Ponzi scheme.” 
said Richard Holbrooke, who came last year, 
when he was an assistant secretary of state, to 
talk about peacemaking in Bosnia-Herzego- 
vina. This year. Mr. Holbrooke will not attend, 
even though he said he had been invited to do 
so despite the fact that he is no longer a top 
corporate officer or top government official. 

Those are the conditions of entry set by the 
Swiss business professor who dreamed up the 
Davos idea, Klaus Schwab, a 58-year-old en- 
trepreneur. who rules over his creation as 
autocratically as the Wizard of Oz and has 
made it into a global enterprise. ' 

“The company representatives have to be 
the actual chief executives.’ ' he said in a recent 


interview, though the forum’s list of 
attendees includes some executives of 
lower rank. “And we never pay any 
honorarium to politicians who attend.” 
Mikhail Gorbachev asked for one. Mr. 
Schwab said, but was turned down. 

As for Prime Minister Viktor 
Chernomyrdin of Russia, Foreign Sec- 
retary Malcolm Rifldnd of Britain and 
scores of other government officials, “we 
pay hotel rooms for the political leaders, ’ 1 
he said, “but not for their entourage.” 

In Switzerland, people know Mr. 
Schwab as “the Professor." Admirers 
ascribe his success to tireless promotion 
of the forum, whose main attractions 
include world-renowned scientists or 
academic experts, noted authors and 
well-known journalists invited to serve 
on panels and attend other events at the 
forum without paying the $20,000 in fees. 

About 150 more journalists usually come 
to cover the news makers, though they do 
not have the run of the conference. 

As for corporate chiefs, “the minute 
they lose their jobs, he tosses them out,' ' 
said Eberhard von Koerber, president of 
ABB Asea Brown Boveri Europe Ltd., 
part of the international engineering gi- 
ant. which pays $100,000 a year for 
“partner status” here. 

About 1,000 companies pay an an- 
nual membership fee. raised this year to 
1 9,000 Swiss francs — a little more than 
$ 1 3.000. This entities them to attend this 
meeting and the regional ones, and cov- 
ers the $1 1.1 million costs of the meet- 
ings. B anks and other financial insti- 
tutions pay more — about $15,000 — 
and all must pay a further $6,000 or so to 
attend at Davos, plus transportation, 
hotel costs and meals. 

The corporate partners like Asea 
Brown Boveri contribute even more, Mr. von 
Koerber said, because “it gives us a lot of 
privileged access to important meetings.” 

“Membership fees finance the infrastruc- 
ture," he said. “The partnership arrangements 
finance our investments in the future.” 



Itodonel Tourin Offloa/Tin' fa* Tim™ 


Skeptics say that it’s all just a lot of talk without a payoff and that it takes about as 
much money from the attendees as a global Ponzi scheme would. 


The Annual Business 
of a Business Conference 


The annual meeting of 
Economic Forum a afeo the most 
Important nwnejHuatang evert for 
the privat&tounpation that turn 
forum. Here is a breakdown of foe 

foundation's revenue and expenses 

for foe fiscal year that ended on 
June 30,1996. 



TOTAL 

Conference costs 
paid by guests 


Annual 
membership fees 

Income from -i 
partnerships 

Investment 
Income $0.79 


528.0? 

mfflton 



TOTAL 

Salaries and 
other personnel — 
costs 

Cost of Davos 

annual meeting 

Regional 
meetings 

Expenses for 
Cologny office 
Investment in 
new activities 

Sourca YMd Economic Farum 


$25.67 

million 



The New TME Tunes 


I 


NCOME from membership, sponsoring 
partners, investments and other sources 
amounted ro more than $26 million last 
, year, the forum reported. After paying $12 
million for offices and staff, the forum reported 
a tidy surplus close to S3 million. This can be 
reinvested or sunk into projects like an in- 
teractive computer communications and 
video-conference system for members, which 
will be introduced at this year’s meeting. 

It was developed by Advanced Video Com- 
munications and other partners of foe forum, 
and is being offered to members as a “hot line 
for global decision makers.” 

To be a member, “you have to have annual 
volume of a billion Swiss francs” — $700 
million — Mr. Schwab said. Such require- 
ments do not always go down welL Euan Baird, 
foe head of Schlumberger LtcL, finds Mr. 


Schwab’s advances easy to resist and will not 
be attending this year. Nor will Antonio Gar- 
rigues Walker, a prominent corporate lawyer in 
Madrid, who said: “I prefer foe Trilateral 
Commission, which is a better opportunity for 
me to have lunch and breakfast with important 
tie. Davos has become more a status sym- 
ti than a real opportunity to make contacts, 
and I found I was wasting my time.” 

There are hundreds of individual meetings 
and seminars during foe conference, which this 
year focuses loosely on the effects of global 


communications and computer necwi 
and with the likes of Mr. Gates to spur them. 
The huge supporting cast includes European 
and Asian government ministers. Undersec- 
retary of Stale Timothy Wirth is leading the 
Clinton administration contingent 
The forum’s manag in g director, Claude 
Smadja, tells those planning to attend, “Con- 
tacts ultimately mean contracts,” though Da- 
vos is not a trade fair. “It’s an information 
market” Mr. von Koerber. said, explaining 
why Asea Brown Boveri plays such a big role; 
Percy Bar&evik, foe parent company's pres- 
ident, is brie of 12 board members. - 


“We see a lot of very important clients — 
governments and state organizations, espe- 
cially from emerging markets with high 
growth rates, and all in a relaxed, confidential 
atmosphere,” Mr. von Koerber explained. 


R 


ONALD Skates, president of Data 
General Corp„ said the attraction was 
“ talkin g to a lot of people you do 
business with in a nonbusiness set- 
ting.” 

“If you went over solely for foe purpose of 
malting deals. I'm sure you’d be a social 
pariah,” he said. “It's like playing golf with 
customers, only much more sophisticated.” 

To preserve foe impression of exclusivity, 
Mr. Schwab and his staff also organize closed 
gatherings — for information-technology 
people, for example, or energy executives. 

“The private meetings are more focused,” 
said Charles DiBona, president of foe Amer- 
ican Petroleum Institute, who plans to attend 
this year. “In recent years, the energy min- 
isters- from countries Jike Tajikistan, Iran,' 
'Saudi Arabia and Tunisia have come,” be said. 
“I learn what the company people are thinking 


about, how the Europeans think about things, 
and talk to people I can’t see anywhere 
else." 

Two hundred American companies are 
members, and forum executives would like to 
see more. 

“We’re just shy of 50 percent European 
companies,” said Paul Smyke, a dual U.S.- 
Swiss citizen, who is the staff member in 
charge of recruiting new corporate members. 
“We have a philosophy — we call it the global 
thousand. Once we determine that a company 
has a global presence in sales or sourcing, we 
go after it." 

The forum and its board are organized as a 
private foundation, not publicly accountable 
under Swiss law. 

Exactly how well Mr. Schwab makes out 
financially he does not disclose, although he 
says his forum activities have landed him paid 
corporate hoard seats with companies like 
Vantobel Holding, owner of a big Zurich bank, 
and made him vice chairman of SMH, the 
Swiss company that makes Omega, Tissot, 
Swatch and Longines watches. He also teaches 
one day a week at the University Of Geneva. • 


Syrian Says Peres Agreed to Golan Deal 


By Thomas W. Lippman 

Washin^wn Post Sentcc 

WASHINGTON — The chief ne- 
gotiator for Syria in the now-suspended 
peace talks with Israel says that the two 
countries were on the verge of an agree- 
ment last year, based on an Israeli com- 
mitment lo withdraw from foe Golan 
Heights, but that the prime minister at 
the time. Shimon Peres, derailed the 
deal by calling early elections. 

Walid Moualcm. foe Syrian ambas- 
sador to Washington, said the Israelis 
agreed in writing lo withdraw to the 
twrdens that existed before they cap- 
tured the Golan HeighLs in the 1967 
Middle East war. 

In an unusually detailed interview to 
be published in the forthcoming issue of 
the Journal of Palestine Studies, Mr. 
Moualem said Syria regards that sup- 
posed commitment as binding on the 
current Israeli government of Benjamin 
Netanyahu and as the starting point for 
any future negotiations. 

Mr. Netanyahu says he will not sur- 
render the Golan, saying control of the 
promontory from which Syrian guns 
formerly pounded the Galilee in north- 
ern Israel is essential to Israeli security. 

But Mr. Moualem said in the interview 
that there could be no negotiations with- 
out an understanding that Syria would in 


the end regain foe entire territory. 

Mr. Peres’s predecessor, Yitzhak Ra- 
bin, recognized in mid-1993 that Syria 
would not make peace on any other 
terms. Mr. Moualem said, "and we ne- 
gotiated foe details of foe withdrawal 
element for almost a year, until July 
1994, when we finalized the agreement 
on foil withdrawal.” 

"Netanyahu wants to disregard the 
work of the last four years. If we accept 
the precedent of going back to square 
one every rime there is a change of 
government we will never reach agree- 
ment,” he said. 

U.S. and Israeli sources familiar with 
the negotiations disputed Mr. Mou- 
alem 's account. 

They said he has overstated the extern 
of Israel’s commitment in an effort lo 
establish foil withdrawal as a baseline, 
as foe Palestinians did with Israel's 
promise to redeploy from the West Bank 
city of Hebron. 

Mr. Moualem's account is “largely 
accurate, but not entirely accurate,” said 
Itamar Rabinovich, a former ambassador 
to the United Slates who negotiated with 
Mr. Moualem on behalf of the Labor 
ovemments headed by Mr. Rabin and 
' . Peres. “It's slanted in places.” 

“One of the things he tries to do in 
that interview is to create the impression 
there was a written agreement There 


gov 

Mr 


wasn't” Mr. Rabinovich continued. 

The spokesman for the Israeli Em- 
bassy here, Gadi Baltiansky, said: 
“There is no such Israeli commitment 
There was no written agreement on any 
withdrawal.” 

A U.S. official said that there was, 
however, a “hypothetical” and “con- 
ditional” offer, as was widely reported 
at foe rime. "It was conditioned on 
Syria's meeting Israel's needs for se- 
curity, and Israel's needs were not 
met” The offer was never formally 
conveyed to Syria, the official added. 

Mr. Moualem's interview is perhaps 
the most detailed explanation from foe 
Syrian point of view of why negoti- 
ations trait seemed so promising at the 
beginning of 1996 never amounted to 
anything. It demonstrates that Syria’s 
view of how to achieve peace was fun- 
damentally different even from the 
dovish Labor government in Israel, to 
say nothing of Mr. Netanyahu’s Likud. 

Mr. Moualem said Tuesday that he 
gave foe interview because people fre- 
quently asked him why Damascus did 
not seize what appeared to be a genuine 
opportunity to make the peace it claims 
to want He also said he wanted to make 
clear the Syrian position that "we want 
to build upon what we already 
achieved,” namely the supposed Israeli 
commitment to return all or foe Golan. 


Hamas Warns U.S. 
Against Extraditing 
A Leader to Israel 

New York Times Service 

GAZA — A spokesman for the 
militant Islamic group Hamas 
warned Wednesday that the extra- 
dition of one of its leaders to Israel 
by foe United States would 
"severely arouse” his supporters 
and could provoke Islamic milit- 
ants to “try to punish America.” 

"We are not threatening, but we 
are advising: This would not be a 
proper policy,” said Mahmoud Za- 
har, the top Hamas official in Gaza. 

He spoke after Mousa Mo- 
hammed Abu Marzuk was reported 
to have decided to drop his chal- 
lenge to a U.S. court decision to 
extradite him to Israel to face ter- 
rorism charges. 

Mr. Zahar said that Hamas 
would try to enlist the Palestinian 
Authority and its leader. Yasser 
Arafat, in urging the United States 
to send Mr. Abu Marzuk to a third 
country. 

“Israel will gain nothing from 
more prisoners, and America will 
gain nothing by gaming a new en- 
emy — Hamas, Mr. Zahar said 


TRAVEL UPDATE 


Rail Strike in France 

PARIS (AFP) — Rail traffic will be 
heavily disrupted Thursday in France 
by a strike called to protest a reform of 
the state-owned railroad SNCF, the 
company said Wednesday. 

It said that although high-speed ser- 
vices would be normal on the Paris- 
London Eurostar and foe Paris -Brussels 
Thalys links, only one in two high- 
speed trains would run in northern and 
southeastern regions of France and be- 
tween Paris and Bordeaux. 

The company said two TGVs out of 
three would link Paris with Tours, cen- 
tral France. 

Ordinary main-line train services 
would also be disrupted in similar pro- 
portions, the company said. 

Suburban services around Paris, the 
RER, would be cut by half on average, 
the SNCF said. 

Airline Safety Data 

WASHINGTON (AP) — The Fed- 
eral Aviation Administration is plan- 
ning to start releasing more airline 
safety information — perhaps even on- 
line — according to published reports. 

While the agency will not attempt to 
rank airlines according to their safety, it 
is expected to begin releasing data. 


about individual carriers, information 
that has been widely sought following 
recent accidents. 

Disclosures that UJS. inspectors had 
been investigating safety problems at 
ValuJet prior to dial airline’s crash fix 
May caused a clamor for foe agency to 
report on the safety of various carriers/ 

Museums Get Face-lift 

WASHINGTON (WP) — The Na- 
tional Museum of American Art and the 
National Portrait Gallery, which oc- 
cupy the historic Old Patent Office 
Building, will be closing to foe public 
for a two-year, $42 million face-lift 
starting around January 2000, museum 
directors said. 

The exact date for foe closing has nbt 
been set But the renovation of the Greek 
Revival building is expected ro keep both 
museums — as well as the Archives of 
American Art, which shares the space- 
closed for two years. 

During that time, climate control 
fire, electrical, communications, elev- 
ator and other outdared and inadequate 
systems will be replaced. 

Construction on the West Bank's 
first luxury hotel, the Park Plaza, will 
begin soon in Ram all ah, foe local A1 
Ayyam newspaper reported. (AFP) 


WEEKEND SKI REPORT 



Depth 

Mtn. 

Rss. 

Snow 

Losl 


■nart 

L 

u 

PBfca 

ph»m Star* 


Andorra 

Pas do la Casa 

150 

200 

For 

Hw 

tac 

SI 

Jfl 23 MS (5HL SOOd BUST 

Soideu 

40 

1BQ 

Fw 

KM 

Pom 

24.1 

at 21 ftecpwi (wts erjovafcte 

Austria 

Ischgi 

30 


Far 

HOT 

tad 

21/1 

ol 4 r Ms xai 4am of xcaanv 

Kitebuhei 

10 

45 

Ham 

uwn 

Vor 

S'l 

52490 fife i<pst WEftymcsi levds 

Lech 

60 

180 

For 

*T 

tad 

K/l 

jfl 34 Us opfl/t. good at a&fado 

Mayihoten 

M 

40 

Had 

Cbsod 

Vjl 

21.1 

Jllzsuti cpm. pent?, wsjanj 

Otwrgwgl 

40 

140 

Goal 

Opon 

PcVd 

2in 

jAZ/tflscpn. rant poms good 

Saafcxti 

a 

50 

wm 

Alt 

vr 

2in 

aiJttecjJw nxssfcpeimm 

Si Anton 

45 

iro 

Kim 

Kfll 

var 

tei 

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Canada 

Lake Louse 

IX 

iro 

Goad 

□pen 

tad 

27/1 

J3 12 life nxn. hKti anew U erjcy 

Wtfstter 

ro 

345 

Good 

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Petal 

231 

off 26 HU men. Htfrwnrt raS 

Franc* 

AtoeifHuez 

so 

250 

Gcod 

Open 

Var 

tel 

“*83 open, gnatsbiig 

Las Arcs 

65 

175 

Good 

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tor 

an 

7>77 tfc open riss argejotfe 

Avona: 

140 

ISO 

Gcod 

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tor , 

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Courchevel 

35 

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280 

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tel 

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Menbel 

55 

130 

Good 

won 

tor 

251 

hJycpen. ewaObh^iLp 

LaPtagne 

too 

180 

fWwri 

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Vto 

21/1 

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Sene Chevalier «E 

300 

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to/ 

22/1 

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Tipnea 

ICO 

160 

Good 

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Vaf efta/we 

60 

220 

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Vallhorena 

in 

350 

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Vs 

211 

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Germany 

Berehtasgoden 10 30 For Oottd 

Obanfttart IS 70 hw 


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tad 30112 afi JBiftscpen. Urm a! teanej 



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pate* state 

Saw 

r Comments 

Italy 








Bormio 

30 

1S5 

Fair 

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Pcu 

Mfl 

14/16 S&s jporL good wbaess 2000m 

CmvWa 

100 

■too 

Good 

ppm 

tao 

tan 

oM 25 BBs open, gtvn&dng 

Cortina 

4fl 

ISO 

Good 

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POT 

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Coumayeur 

50 

21D 

Good 

rVa 

tor 

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2U22KB open. {pM ah. ZJDOn 

Lnrigno 

85 

200 

Good 

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POT 

26/1 

30/31 tfcepMi. gdeow jftaMb 

Uadesvno 

ias an 

Good 

Open 

POT 

2011 

1OTrre<3mpM»enfeatfe 

Selva 

3d 

95 

Good 

Open 

POT 

28/1 

aMBtU^mduSBanhapea 

Norway 








Geilo 

50 

50 

Fair 

Held 

POT 

16/1 

alt&BSiapm, 120ha at xcartky 

Swittsriand 








Crans Montana 

55 

305 

Good 

■am 

Ur 

21/1 

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Davos 

45 

145 

Good 

Hod 

tor 

21/1 

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Ktoslers 

20 

145 

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V* 

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Mutter 

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140 

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SaasFee 

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290 

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2771 

7506 10c OpmpHfffAlWioto 

SLMontz 

40 

180 

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21/1 

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Varber 

50 

180 

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wengen 

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201 

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Zermatt 

45 

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140 1G0 
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1)3. 

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Mammoth 330 esa 
Park CKy 
Ua& 

Winer Park 


195 235 
190 210 

in is: 


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taring lo wsort t*oa. Art AidcM mo*. _ 



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WEATHER 


Europe 



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Middle East 


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20179 1467 pe 
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7M4 -3K3pe 
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Forecast for Friday through Sunday, as provided by AccuWeather. 


Asia 



North America 
Cold weather will cover 
much ofihe Northeast and 
mid -Atlantic through the 
weekend, while tempera- 
tures MU modems across 
the Great Late*. The deep 
Southern and Florida win 
mn near to eberra normal. 
The Southwest and Rods- 
ies will be mild, while 
stormy weather wD return 
to the Northwest 


Europe 

A pool ol unseasonably 
cold air MB aflect parte of 
southeastern Europe end 
Tuitoy this weekend. Pan* 
of northwest Europe. 
mduefing Amsterdam and 
Parit, couM be a tad colder 
than normal Friday and 
Saurtay. Otherwise, much 
of tha rest of Europe wtlf 
evetBpa near to above nor- 
mal. 


Asia 

Northeaatem China, 
meiuding BeOng, and both 
Korea a, Including Seoul, 
will be rather rnU throutfi 
the weekend. However, 
northern Manchuria will 
remain quite odd. A brief 
cold shot will move Into 
Tokyo Sauntay; otharwtea. 
seasonable. Seasonable In 
Hang Kong and Stogapore. 


Africa 


North America 


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Printed by Newsfa r International, London. Registered as *t newspaper at the post office. 





THE AMERICAS 


Jurors Wend a Maze to a Simpson Verdict 


By Stephanie Simon 

Los Angeles Times 


SANTA MONICA. California 

;Jurors in the OJ. Simpson civil trial 
.'have retired behind closed doors to be- 
;gin deliberations, carrying stacks of 
; notebooks and a fat packet of instmc- 
.dons warning them to base their verdict 
;on the evidence — and not on the emo- 
;tion that has long swirled around the 
•case. 

' The five men and seven women are 
^charged with sifting through months of 
^clashing testimony and bitter argument 
Jto resolve the issue at the heart of the 
■trial: Did OJ. Simpson murder Nicole 
; Brown Simpson and Ronald Lyle Gold- 
•manon June 12, 1994? 

But they will not find that question on 
‘.their verdict form. 

; As Judge Hirafti Fujisaki of the Su- 
■ perior Court explained to the jurors 
^Tuesday. before sending them into die 
; deliberation room, the civil trial in- 
volves three separate lawsuits. They all 
boil down to “aid he or didn’t he.” But 
they are wrapped in the peculiar jargon 
■of the legal world, in roundabout ques- 
. lions about battery, malice, oppression 
and wrongful death. 

According to the verdict form, for 
; example, jurors must ask themselves 
not whether Mr. Simpson killed his 
former wife, but whether he harmed her 
without her consent — and whether he 
did so in a “base, vile, contemptible, 
-wretched, loathsome or miserable” 

. manner that * "ordinary, decent people” 

. would recoil from. 

The technical legal questions jurors 
' must weigh in the deliberation room are 
so confusing that h took Judge Fujisaki 
45 minutes to read aloud the jury in- 
structions. But with all that, he did not 
even explain that if the jurors find for the ' 
plaintiffs, they will trigger a second 
; phase of the trial and a new round of 
-deliberations on the question of punitive 
.damages. 

The jurors must weigh these issues: 

• Mr. Goldman's parents, Fred Gold- 
man and Sharon Rufo, have each filed 
claims accusing Mr. Simpson of caus- 
ing their son's death. 

If they prevail, they are entitled to 
compensatory damages. The award 
-would include $7,961 to cover the cost 
;of Mr. Goldman's funeral and, more 
‘importantly, compensation for the loss 
of their seal’s love, companionship and 
moral support If jurors find these 
claims valid, they must decide during 
•the current round of deliberations how 
imuch money Mr. Simpson owes Mr. 
-Goldman’s parents. They are instructed 
; to come up wizh a lump sum; the judge 
;will divide it between Mrs. Rufo and 
• Mr. Goldman. 

• Mr. Goldman's estate has filed a 
survivorship claim accusing Mr. 
Simpson of battery. 




* •* r •' * 

V • f;i V 

- ■**-■■*■ 




•• >.»**..* 
. - 



Vun Bncxi/ApiiCT Fruwe- IVw 

FVed Goldman, with, from Left, his wife, Patti, and daughter Kimberly, following an unidentified woman from court. 

A Sorry Day for Scientific Sleuthing 

Report Finds Shoddy Procedures at the Vaunted FBI Lab 


ilain that if the jurors find for the ‘ tk, rwrlH irVinct™ by problems associated with the lab’s 

s, they will trigger a second and^tew CRevkin wori£ - 

f the trial and a new round of ij Among the problems cited by the 

Sons on the question of punitive officials were sloppy handling of ev- 

i. WASHINGTON — For decades, the idence and lax procedures within the 

irors must weigh these issues: FBI's reputation as a crime-fighting lab. In addition, they complained of the 

Goldman's parents, Fred Gold- agency has rested heavily on its high-tech work of agents who use the lab to make 
I Sharon Rufo, have each filed forensic laboratory, which could solve their cases, including unreliable pn> 
ccusing Mr. Simpson of cans- baffling crimes from a speck of Mood, a cessing of the material sent to (he lab for 
son's death. stiver of paint or a human hair. analysis and misuse of the lab’s findings 

y prevail, they are entitled to But an investigation by the Justice by FBI agents and their supervisors. 
;aiory damages. The award Department’s inspector general has put This range of problems has been 
tclutie $7,961 to cover the cost the FBI laboratory, and the way the evident in several well-known cases: 
Goldman's funeral and, more agency has used it, under the glare of • After federal agents searched the 

itly, compensation for the loss public scrutiny. The findings, which residence of Richard Jewell, a private 
urn’s love, companionship and were turned over to FBI officials last security guard who was an early suspect 
upport If jurors find these week, are threatening to stumer the rm- in a bombing at the Atlanta Olympics 
alid, they must decide during age of an agency on the cutting edge of last summer. FBI scientists and other 
Ht round of deliberations how scientific sleuthing. specialists warned that “you've got the 

oney Mr. Simpson owes Mr. On Monday, FBI officials announced wrong guy,*' an FBI laboratory official 
r’s parents, They are instructed a shake-up at fee lab, transferring four said. But their cautionary remarks, 
up with a lump sum; the judge senior employees, including the heads of based on the absence of even trace 
de it between Mrs. Rufo and the chemistry and explosives units, the amounts of explosive materials, went 
Iman. first in disciplinary personnel actions in unheeded for months. 

Goldman's estate has filed a what officials say will be a thorough • After a truck bombing in Oklahoma 
ihip claim accusing Mr. overhaul of the lab's operations. City in 1995, lab experts complained 

of battery. The report has not yet been made that field agents had haphazardly ex- 

state wins, jurarscan order Mr. ’ public, but current and former FBI lab amined the crime scene, the clothing of 
tpcqinpensaie Mr. Goldman’s officials who have been interviewed by ,, Tunothy McVeigh, one of two defen- 


e estate wins, jurarscan order Mr. " public, but current and former FBI lab 
on to compensate Mr. Goldman's officials who have been interviewed by 
eirs — his parents — for property the inspector general's office have said 
;e incurred during tire assault that dozens of cases have been affected 
That amounts tojust $ 1 00, for his blood- ^ 

-ied jeans and shut. But the estate also is 

asking for punitive damages, intended a -» ■ nn Tri a t*t 

to punish Mr. Simpson for his conduct /% jrl fv iq I Ill 

Jurors would not decide the amount of 

.punitive damages until a second round fTt/vnT/'iO 

of deliberations, following testimony 

about Mr. Simpson’s financial assets. 

• Nicole Brown Simpson's estate has 

■also filed a survivorship claim accusing Graphology Makes a Mark 
.Mr. Simpson of battery. 1 w 

' The estate is seeking $250 in property Handwriting analysis, long used as 

damages for the black dress she was a hiring tool in France and Israel, is 
wearing when she (tied — plus punitive catching on with a small but growing 
damages. Again, jurors would set the number of American companies, ac- 
size of punitive damages in a second cording to The Boston Globe, 
phase oi the trial if the plaintiffs won Executives at Cognex Inc., a higb- 
this round. Any money awarded to the tech firm in Massachusetts, were per- 
estate would flow to the two young suaded by an employee who had 

children of OJ. and Nicole Simpson. worked in France to try handwriting 

To reach a verdict on any one of the analysis. The company now employs 

claims now pending against Mr. graphologists from a Louisville, Ken- 

Simpson, at least nine of the 12 jurors tricky, firm to help screen applicants 
"must concur. In civil trials, the decision for managerial jobs, 
need not be unanimous. Olsten Crap-, a temporary-work 

. The fust question jurors face on their agency based in Melville, New Y ork, 
verdict form relates to the wrongful- uses handwriting analysis to screen 

death claims filed bv Mr. Goldman’s for traits like honesty and depend- 

parents: “Do you find by a prepooder- ability. Last year, attorneys for Dr. 

ance of the evidence that defendant Jack Kevorkian, who freed trial for 
Simpson willfidly and wrongfully caused assisting in a patient's suicide, used a 

the death of Ronald Goldman?” graphologist to help select the jury. 

The standard “preponderance of ev- Dr. Kevorkian was later acquitted, 
idence” means, in layman's terms. But many people remain highly 

• * probably” or ‘ ‘more likely than not’ ’ skeptical about the idea of hiring on 

So jurors can vote against Mr. Simpson the basis of handwriting. It is * ‘kind of 

evenifthey think there ’s just a51 percent mystical," said William Brown, a 

chance that he killed Mr. Goldman. management professor at Babson 

Only legal heirs can bring such a College in Wellesley, Massachusetts, 

claim, so pursuing it would have put the “a tittle like reading tea leaves or 

Simpson children in the traumatic po- looking at the entrails of a chicken. 

sirion of suing their father for killing cu nrf TY»fc«s 

their mother. Instead, the Browns MHHX laites 

brought a survivorship action on behalf The oyster is Bob Seabrook’s 

of Nicole’s estate, which could reap big world. Mr. Seabroofc, a technician in a 
money for the children without turning New Jersey state Laboratory that mon- 

them into plaintiffs. (The children. Hors ocean water quality, has mounted 

Sydney and Justin, still have the right to a museum exhibit to oystering, a dying 

file their own wrongful -death lawsuits industry in the mid-Atlantic. Mr. 

in the future; the statute of limitations Seabrook’s collection at an Oceanville 

will not run out until they turn 19.) museum, reports The Philadelphia In- 


dents later charged with the explosion, 
and the vehicle driven by him. The 


quirer, preserves the ephemera of a 
booming era that began in the mt rf- 
1880s. At the heart of the collection 
are the colorful gallon-size metal cans 
that were used to transport oysters. By 
die early 1950s, the New Jersey in- 
dustry boasted 1 ,400 boats employing 
2300 people. Then a mysterious para- 
site ravaged the oyster crop; another 
followed in 1990. Now New Jersey 
oystermen take a bare 75,000 bushels 
of oysters a year — down from the 
onetime peak of 3 million. 

When Bettie Duerksen, 56, of 
Wichita. Kansas, wanted help in learn- 
ing to use the Internet, she decided to 
attend a free class at L’Ouv enure 
Magnet School. Her teachers? School- 
children. some as young as 8 or 9. On 
a recent evening, Anna, a third-grader, 
showed six adults how to browse the 
worldwide computer network. At 
L’Ouverture, students start learning 
bow to use die Intranet in kinder- 
garten. By the end of third grade, they 
must have their own home page. 

The town of Strong, Maine, calls 
itself the Toothpick Capital of the 
World A series of machines in a 
factory building there allow a staff of 
only 10 to turn stacks of birch logs 
into 20 million toothpicks a day. The 
machinery, reports Smithsonian 
magazine, has changed little since a 
young man named Charles Forster 
developed H in 1869. While tooth- 
picks then were popular among the 
European elite, they lacked a mass 
audience. So Mr. Forster enlisted the 
help of Harvard scholars. After dinner 
at a Boston eatery, each young man 
was to ask the waiter for a toothpick. If 
informed the restaurant had none, the 
student was to storm out, complaining 
he would never set foot in the place 
again. Thus a business was born. 

International Herald Tribune 


Virginia Rejects ‘Massa 9 and 6 Darky 9 

State Senate Votes to Replace State Minstrel Song Glorifying Slavery 


By Spencer S. Hsu 

Washington Post Service 

. RICHMOND, Virginia — Virginia 
senators have voted to retire “Carry Me 
Back to Old Virginia” as the official 
state song, likely striking the death knell 
fora tune that has come to symbolize the 
legacy of the state’s segregationist 
past. 

There was no debate as senators 
voted, 24 to 15, to declare the Recon- 
struction-era black, minstrel tune the 
state song “emeritus" and to order a 
committee to .find a replacement song 
by July 1998. w , 

The measure now goes to the le- 
gislature's lower house, which voted to 


repeal the song in die past. Governor 
George Allen, a Republican, has said he 
will sign the bill if it is approved by the 
legislature. 

The Senate’s rapid approval was 
testimony to the changes that have 
swept Virginia in the quarter-century 
since Douglas Wilder, then a state sen- 
ator who later became the nation’s first 
elected black governor, denounced the 
song's lyrics as a racist reminder of the 
slave era. 

The song, which recounts a freed 
slave's wish to return home to a Virginia 
plantation, includes the lines “There’s 
where this old darky’s bean am long’d 
to go. There’s where I labored so hard 
for old massa.” 


For two decades after Mr. Wilder 
spoke out against the song, tradition- 
alists who called the 1 20-year-old tune a 
part of Virginia’s southern heritage 
found sympathy in the Senate, which 
routinely rejected complaints that foe 
song was racially insensitive. But that 
front began to crack three years ago, 
when the 40-member body overwhelm- 
ingly voted to keep the song but excise 
its offensive words. 

“Carry Me Back to Old Virginia,” 
which was written in the 1870s by 
James A. Bland — a black New York 
minstrel who never set foot in Virginia 
— and adopted as die official tune in 
1940, bas not been played at schools or 
public events for 20 years. 


evidence was handled sloppily, with 
some of it nu slagged or spilled from 
evidence bags, when it was sent to the 
lab for examination. 

■ During the investigation of the 
1993 bombing of New York’s World 
Trade Center, some investigators in the 
chemistry section of the FBI lab became 
concerned that tests being conducted for 
traces of an ejqdosive blend of urea and 
nitrogen fertilizer were not precise 
enough. 

The World Trade Center bomb was 
made of urea-nitrate, a compound that 
can be confused with nonexplosive mix- 
tures of the same ingredients. In an 
informal internal check of lab proce- 
dures, some senior FBI lab workers 
mixed human urine with fertilizer and 
added samples of that nonexplosive 
mixture to the flow of material being 
tested by the cbemisby unit. A manager 
in die chemistry lab identified the urine- 
fertilizer mixture as an explosive. 

Errors at the lab are already providing 
defense lawyers with ammunition to use 
in some of these cases and appear to 
threaten the FBI with challenges to expert 
forensic testimony in cases based on the 
more than 600,000 evidence examina- 
tions conducted each year by the lab. 


Senate Backs Andrew Cuomo for Housing 

WASHINGTON — The Senate on Wednesday confirmed Andrew Cuomo 
as the new secretary of the Department of Housing and Urban Development. 

Mr. Cuomo, approved in a 99-0 vote, succeeds Henry Cisneros, who 
resigned earlier this month. 

“I am privileged to support the confirmation of a native New Yorker, 
particularly one who has done so much in the area of housing in a relatively 
short period of time,” said Senator Alfonse D' Amato, the New York Re- 
publican who chairs the Senate Banking Committee. 

Mr. D’ Amato and Mr. Cuomo's father, the former New York governor, 
Mario Cuomo, a liberal Democrat, are longtime political foes, but Mr. 
D' Amato enthusiastically endorsed the younger Cuomo for the job. (AP) 

Shalikashvili to Leave Post at Joint Chiefs 

WASHINGTON — General John Shalikashvili. chairman of the Joint 
Chiefs of Staff, has informed Secretary of Defense William Cohen that he 
intends to step down in September, the White House said Wednesday. The 60- 
year-old general, who was bom in Warsaw, has served two two-year terms as 
the nation's top military officer under President Bill Clinton. (Reuters) 

Clinton Stars at Democrat Donors 9 Dinner 

WASHINGTON — By day. he’s a champion of campaign finance reform. 
By night President Bill Clinton is still the Democrats’ million-dollar man. 

Hours after a White House news conference dominated by questions about 
Democratic Party fund-raising irregularities, Mr. Clinton was the star at- 
traction at a $1 million donors dinner Tuesday. 

About 70 business leaders paid $10,000 per person or $15,000 per or- 
ganization to attend the Democratic National Committee event. As the guests 


ganizarion to attend the Democratic National Committee event. As the guests 
dined on salmon and asparagus, Mr. Clinton said that no donor had ever asked 
him to use the presidency on his or her behalf, and that he had never done so. 

“There is no system which has been offered which is completely publicly 
funded from start to finish.” he said. “So we have to depend upon people to 
help us.” (AP) 

Republican Medicare Offer Bites Back 

WASHINGTON — When Haley Barbour was the Republican Party chief, he 
offered $1 million to the first person who could prove Republicans were cutting 
Medicare, 80 people accepted the challenge. They wound up not with money, 
but with legal notice that they will have to go to court if they want to collecL 

Most of the people who took the challenge settled for a rejection letter. But 
one, Robert Shireman, filed a lawsuit. That pnompred the Republican National 
Committee to file its own pre-emptive lawsuit in federal court in Jackson, 
Mississippi — just in case anyone else tried the same method. (AP) 


Quote /Unquote 


Representative Anne Northnip, Republican of Kentucky, at the annual 
dinner for congressional correspondents: “Teenagers and Democrats are 
always happy spending someone else's money. But teenagers grow up. and 
when they nave to spend their own money they become conservatives. ’ ’ (AP) 


Away From 
Politics 

• Two toddlers were hurled from a 

third-floor apartment window in Ta- 
coma. Washington, the police said. 
The children landed on a car and were 
expected to survive. (AP) 

• An art auction in Miami was can- 

celed after experts said works sup- 
posedly by artists like Georgia 
O’Keeffe and Jasper Johns were 
fakes. The owner of the collection 
was not identified. (AP) 

• Marijuana was a secret menu 
item at a McDonald’s restaurant in 


Connecticut, where the police say a 
drive-through window worker, now 
under arrest, sold the drug in Happy 
Meals for children. (AP) 

• Eric Schneider, who murdered 

two Missouri teachers during a 1985 
robbery, was executed. (AP) 

• A thief who faced life in prison 
under California’s “three strikes” 
law for stealing a slice of pizza will be 
eligible for parole in little more than 
two years, a judge ruled. (AP) 

• A judge barred the news media 
from joining relatives of Oklahoma 
City bombing victims when they 
watch the trial of the accused bombers 
on closed-circuit television. (AP) 


Most Segregated City? Gary, Indiana 


The Associated Press 

GARY, Indiana — This former capital 
of tile U.S. steel industry is the most 
racially segregated city in America, ac- 
cording to a University of Michigan 
study. 

The study, conducted by Professor 
Reynolds Farley, found that 10 of the 15 
most segregated metropolitan areas 
were old Midwestern industrial cities. 
Tbe least segregated tended to be in the 
South and West, led by Jacksonville, 
North Carolina. 

Using Census Bureau housing re- 
ports from 1990, Mr. Farley calculated 
what he called “indexes of dissimil- 
arity” for communities that had at least 
3 percent black population, or at least 
20,000 blacks. 

Where whites lived only on all-white 


- 


blocks and blacks only on all-black 
blocks, the index would be 100. Where 
there was no racial pattern, the index 
would be zero. 

On that basis, Gary rated 91, com- 
pared with 90 a decade earlier, while 
Jacksonville rated 31, down from 36. 

Others on the most-segregated list in- 
cluded Detroit, 89; Chicago. 87; Clev- 
eland, 86, and Buffalo. New York, 84. 
The rest of the five least-segregated cities 
were Lawton, Oklahoma, 37; Anchor- 
age, Alaska, 38; Fayetteville, North Car- 
olina, 41, and Lawrence, Kansas, 41. 

Of 232 communities in the study, 
segregation declined in 1 91 of them dur- 
ing the 1980s, Mr. Farley reported. The 
national index declined to 64, from 68. 

The findings appear in the February 
issue of Population Today, a monthly 


magazine published by the private Pop- 
ulation Reference Bureau, a research 
group in Washington. 

“Most older central cities in the 
Northeast and Midwest had their bound- 
aries established decades ago and are 
surrounded by independent suburbs, 
some of them known for their hostility 
to blacks." said Mr. Farley, a sociology 
professor. 

“But in the South and West, central 
cities annexed outlying land after World 
WarD.” 

An increase in new construction in 
the South is another reason its cities are 
less segregated, he continued. 

Segregated cities in the Northeast and 
Midwest will probably stay that way 
without a revival in construction, he 
said. 




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■ PAGE 4 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30,1997 


ASIA/PACIFIC 



Jiang Urges 
The Koreas 
To Negotiate 
Reunification 


Agence France- Prase 

BELTING — President Jiang Zemin 
of China called on the two Koreas on 
Wednesday to sit down to peace ne- 
gotiations that might eventually lead to 
Korean reunification. 

In a meeting with a South Korean 
parliamentary delegation led by Speak- 
er Kbn Soo Han, Mr. Jiang pledged that 
China would encourage the peace pro- 
cess on the Korean Peninsula. 

“As a neighbor, China has always 
kept a close eye on the situation on the 
peninsula and has been involved in 
maintaining peace and stability in the 
region.' ' Mr. Jiang was quoted as saying 
by the Xinhua press agency. 

“China sincerely hopes the South 
and the North will settle their disputes 
through dialogue and consultation to 
realize the peninsula’s peaceful and in- 
dependent reunification,’' he added. 

China, whose troops fought on the 
side of Communist North Korea in the 
1950-53 Korean War, has developed 
into a major trading partner of the South 
since Seoul and Beijing established full 
diplomatic ties in 1992. 

China and the United States are in- 
volved in proposed four-party talks with 
the two Koreas aimed at seeking a per- 
manent peace treaty on the Korean Pen- 
insula. Washington has repeatedly 
urged Beijing to use its influence with 
North Korea to work toward stability. 

■ Prison Sought for Novelist 

South Korean prosecutors have de- 
manded a seven-year prison term for a 
novelist who illegally visited North 
Korea last summer. The Associated 
Press reported from Seoul. 

Kim Yong. 38. better known by his 
pen name Kun Ha Ki, has maintained 
that he unknowingly entered North 
Korea while drunk. But the prosecutors 
said that Mr. Kim's visit was deliberate 
and that he had divulged information 
about the South's political situation and 
the condition of its prisons. 

Government permission is necessary 
for South Koreans to visit the North. 

Mr. Kim is best known for his award- 
winning novels about student activists 
and North Korean spies imprisoned in 
the South. He wrote them after serving a 
seven-year term for anti-government 
activities as a student. 


Supreme Court Lets Bhutto’s Dismissal Stand 

A. ........ . i .... M/t* th*» mrirt building Wi 


By Kenneth J. Cooper 

Wa shington Piisi Service 

ISLAMABAD, Pakistan — 
Pakistan's Supreme Court on Wed- 
nesday upheld die dismissal in Novem- 
ber of Benazir Bhutto's government, 
assuring that parliamentary elections 
will proceed on schedule feb. 3. 

The court’s decision came a day 
after lawyers concluded two weeks of 
arguments on Miss Bhutto’s challenge 
to her dismissal by President Farooq 
Leghari under a 1985 amendment to 
Pakistan's constitution. 


The Nov. 5 coder marked the second 
time that Miss Bhutto had been re- 
moved as prime minister since she led 
a movement to restore democracy to 
her country in 1988. 

‘"There is enough material to es- 
tablish corruption, nepotism and mis- 
rule,” Chief Justice Sajjad Ali Shah 
said, referring to three of the reasons 
Mr. Leghari cited for dissolving the 
latest Bhutto government. 

In Karachi, Miss Bhutto said she had 
expected the court to reject her pe- 
tition, although earlier in the week 
sane of her supporters had predicted 


that the court would reinstate her gov- 
ernment. 

“I knew they were going to give a 
decision against us.” Miss Bhutto said, 
adding that the ruling was unfavorable 
“every tune the Bhutto family goes to 
court ’ _ 

In the past the Supreme Court re- 
jected her challenge to her 1990 dis- 
missal and an appeal to overturn a 
sentence imposed on her fa t her . 
TnlfTkar Ali Bhutto, the former prime 
minister who was executed in 1979 on 
a murder charge. 

Several thousand people waited out- 


side the court building Wednesday. 
When word of the decision spread, 
scores of chanting Bhutto supporters 
rushed the gate and hurled stones at 
riot-eq uip ped police, who used clubs 
to disperse the crowd. 

[Several people were inju red m tne 
Hash, Agence Rranoe-Presse reported, 
including a police constable who had 
been hit by a stone and a municipal 
council member from Miss Bhutto s 
Pakistan People’s Party. 

[Several other people were takento 
hospitals for treatment of bead, 
wounds, witnesses said.] 


Japanese Politician Arrested in Scam 


The Associated Pros 

TOKYO — Japanese police arrested Wednes- 
day a member of Parliament who is accused of 
organizing a scam that defrauded investors of 
millions of dollars. 

The police moved hours after lawmakers voted 
to lift ms immuni ty from prosecution. 

The accusations against Tatsuo Tomobe. 68, 
involve his small savings and loan company, which 
reportedly collected more than $57 million from 
more than 2,000 investors starting in 1992. 

The investors were lured with interest rates of 
nearly 7 percent, far higher than banks offer, which 
is less than 1 percent 

Most of the money is now reportedly gone. 
Japanese media say rhat Mr. Tomobe used much of 
the money to win a place on the New Frontier 



Party’s list for the 1995 parliamentary 

election. _ 

He was elected to Parliament's upper house for 
the New Frontier Party. Japan’s largest opposition 
party. 

A leading New Frontier legislator and former 
prime minister, Morihiro Hosokawa. denied re- 
ports that be was a chief recipient of the money, 
saying that was “absolutely impossible.” 

Mr. Tomobe resigned from the party last fall 
when the scandal involving his financial group. 

Orange Kyosai Kumiai, emerged. Five officials of 
the group, including Mr. Tomobe's wife and son, 
were arrested Monday. 

Orange Kyosai Kumiai was set up in 1986 to 

provide insurance for retired people but branched «... ST”"" lu ncr ~“*T 

out later the high interest rate accounts. Mr. Tomobe, flanked by police officers after his arrest. 


Lawmaker Survives Censure Vote in Hong Kong 


Ceapiat by Otr Stuff Fn 

HONG KONG — The speaker of 
Parliament, viewed as a traitor by Hong 
Kong democracy activists for defecting 
.to the rival legislature appointed by 
China, survived a vote of no-confidence 
Wednesday, an official said. 

Members of the 60-seat Legislative 
Council voted. 29 to 23, to strike down a 
motion calling for Andrew Wong to be 
replaced as president, die council's 
spokeswoman said. 

Mr. Wong became an enemy to Hong 
Kong's pro-democracy camp by 
reneging on a vow not to join the Pro- 
visional Legislature, which China has 
set up to replace die Legislative Council 
when the territory is handed back to 
Chinese rule on July 1 . 

Britain has refused to recognize die 


interim body, saying it is not covered by 
the 1984 Chinese-British handover 
treaty or in Hong Kong's future con- 
stitution. die 1990 Basic Law, that was 
agreed to by London and Beijing. 

Last week, Mr. Wong lost out to a 
prominent Beijing loyalist. Rita Fan. in 
die contest to become the Provisional 
Legislature’s president 
Some political analysts speculated 
that a further humiliation for Mr. Wong 
lay in store for the vote Wednesday. 

The motion, filed by die pro-demo- 
cracy legislator Elizabeth Wong, who is 
no relation, called for a court to declare 
that the speaker was faced with “con- 
flicts of interest” and should be re- 
moved from office. 

Mr. Wong said, in his own defense 
Wednesday: “I gave an assurance to 


members that I would continue to dis- 
charge the duties of the president of this 
council to the best of my abilities and in 
an impartial and fair manner.” 

China, meanwhile, defended a 
posal to roll back civil liberties in T 
Kong after the handover, saying 
rights and freedoms had limits. 

Zhou Bingxin, an official with the 
Hong Kong and Macao Affairs Office 
under the State Council, said that the 
right to hold mass public gatherings and 
demonstrations would be guaranteed by 
law after the handover but that all coun- 
tries had legal restrictions on such activ- 
ities. “No rights or freedoms are ab- 
solute, all of them have limits,” be 
said. 

“Limiting some rights and freedoms 
of the minority is to guarantee more 


ts and freedoms for die majority.” 
. Zhou added. 

■ China Remain Pnblishflrg 

China unveiled strict new regulations 
Wednesday aimed at exerting greater 
control over die varied output of its 
booming publishing industry, Agence 
France-Presse reported from Beijing. 

The new rules, issued by the pub- 
lication bureau under the central Pro- 
ida Department, covered all pub- 
lg houses, their employees and 
such retail publishing outlets as book 
shops, state television said. 

As well as banning die publication of 
any unauthorized woks, the regulations 
called on publishers to join tee fight 
against “pornographic and reactionary 
literature. . 


briefly 


Chinese Hotel Fire 
Causes 30 Deaths 

BE01NG — At least 30 people 
were killed and dozens more in- 
jured Ina fire that destroyed a hotel 
in central China early Wednesday^ 
officials said; -Officials' said that 
two people suspected of starting the 
deadly nre in a restaurant had been 
arrested and thattee manager of the 
Yanshan Hotel in' Changsha, cap- 
ital of Hunan Province* was on tec 
tun. .. (Reuters) 

Tamil Mines KiU 10 

. COLOMBO Tamil rebels 
detopated two remote-controlled 
' tend min es in northern Sri Lanka on 
Wednesday, killing at- least, nine 
civilians mid a soldier, a military 


The mines exploded while sol- 
diers searched for booby traps near 
tee Punalai causeway, 320 kilo- 
meters (200 miles) north of 
Colombo, stud tee spokesman. Ma- 
jor D.AJL Ranawaka. The civil- 
ians were waiting to cross the 
causeway, which links die Jaffna 
Peninsula with Kayts Island (AP) 

Karen Camps Bum 

BANGKOK — At least two 
people were killed when members 
of a renegade ethnic Karen rebel 
groupfrom Burma attacked refugee 
camps across tee border in Thai- 
land, border police said Wednes- 
day. 

The Democratic Karen Buddhist 
Army attacked at least two Camps 
in Thailand’s western Tak Province 
and set them on fire, border police 
' said by telephone from Ban Mae 
Sol 

They also said teat as many to 
5,000 people in the two camps had 
been left homeless alter tee set- 
tlements were burned (AFP) 

Filipino Fighting 

ZAMBOANGA, Philippines — 
Fighting among rival Muslim clans 
has left seven people dead on the 
southern Philippine island of Siasi 
this week, the military said Wed- 
nesday. 

The dead included three police 
officers who were trying to nego- 
tiate a truce between the rival 
groups. (AFP) 


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| You will find below a selection of employment offers published in laslMonda/s Intemafional Herald Tribune 

| For a copy oFlasr Monday's paper, please contact Fred Ronan on Paris (1)41 43 93 91 

fS8 



Regional 

Coramonkation Officer 

| in Amman, Iordan (level P-5) 

UNICEF 

■ 

Recruitment and Placement 
Section (SEK-IHT) 

Ref.: VN-96-I03 
UNICEF 

3 UN Plaza (H-5F) 

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1 Mns 


Bitter Debates Inflame the Mistrust in Ulster 


By James F. Clarity 

i New York Tunes Service 

BELFAST — While the peace effort 
! in this British province is at a virtual 
; standstill, and the Irish Republican 
; Army continues its attacks on police and 

. army troops. Northern Ireland has lapsed 

; mto bitter public debates that underscore 
and aggravate the historical mistrust be- 
•• tween Ulster’s Protestant majority and 
] its Roman Catholic minority. 

The debates involve Catholic de- 
' tnands for a formal British apology for 
• the killing of Catholics by British troops 

NEWS ANALYSIS 

on Bloody Sunday. 25 years ago 
Thursday; a government plan for spots 
on television that compare Ulster sec- 
tarianism with Nazism, and a proposed 
body to control the religious-patriotic 
parades that have led to widespread 
violence in recent years. 

“People’s attitudes have hardened, 
they have polarized,” said Sir Patrick 
Mayhew, the Northern Ireland Secre- 
tary, in unusually frank remarks on BBC 
television. “I’m afraid that we are on a 
sharp downturn at the moment. Because 
a harder attitude of a sectarian kind is the 
material, the climate for the kind of 
violence that we saw last year.” 

Normally, Sir Patrick, who is not 
miming for re-election in the approach- 
ing parliamentary elections in Britain 
and is in his last months as secretary, 
tries to put an optimistic twist on Ins 
views. But his remarks seemed a down- 
beat swan song, reflecting the dour state 
of affairs here. 

Seven months ago, a new round of 
peace talks began in Belfast, involving 
all the political parties in the North 
except Sinn Fein, the IRA’s political 
wing. There was widespread hope that 
tire IRA. would restore the 17-month 
cease-fire it broke Feb. 9 with a series of 
attacks in England and later in Northern 
Ireland. Such a truce would have opened 
the way for Sinn Fein to be included in 
the talks, which are unlikely to produce 
significant agreement without the IRA 
representatives at die table. 

Now, the talks are stalled in anti- 
cipation of the British parliamentary 
electi mis to be held before die end of 
May, as Northern Ireland’s 17 Protestant 
and Catholic members of the Westmin- 
ster Parliament and potential chal- 
lengers seek political advantage. This 
makes compromise at the talks risky. 

The chairman of die talks, former 
Senator George Mitchell of Maine, 
presided over two days of talks Monday 
and Tuesday, then adjourned them fora 
. week when it became clear_that the 
parties were taking even harder lines on 
basic issues, such as how to deal with 
; the issue of disarmament of the over- 


‘People’s Altitudes Have Hardened’ 


wheimingly Catholic IRA and the Prot- 
estant paramilitary groups, which have 
held to the cease-fire they announced in 
October 1994. 

The IRA attacked, a security patrol in 
West Belfast with rockets Tuesday 
night, without injuring anyone. They 
have been making such attacks since 
Christmas week, fulfilling their threat to 
continue their campaign of violence un- 
til Sinn Fein is included in the talks. 
There have also been three attacks cm 
Catholic politicians attributed by the 
police to Protestant splinter groups. 


• The atmosphere has been further 
roiled in recent days by the province- 
wide debate on three volatile issues. 

First, anew book, ‘ ‘Eyewitness: Bloody 
Sunday,” by Don MuDan, has reopened 
tte dispute over Jan. 30, 1972, when Brit- 
ish troops killed 14 Catholic civil rights 
demonstrators in Londonderry. 

Catholic politicians, and osdinaiy 
people.havelong claimed that the troops 
fired at the backs of nonviolent demon- 
strator. The official British version is 
dial the troops osed force in responding 
to by Catholic snipers. 


Bulgaria Warns West on Its Debt 


Catqded by Ow StcfFrcm DapakAa 

BRUSSELS — Bulgaria may have 
to default on its debt repayments later 
this year unless it receives help with 
its strapped economy. President Petar 
Stoyanov said Wednesday. 

“Bulgaria is due to make payments 
on its external debt later tins year 
which trill face our financial system 
with a final collapse.” Mr. Stoyanov 
told NATO ambassadors during a vis- 
it to Brussels. 

“A default and a moratorium on 
our payments is not out of the ques- 
tion.'* he said. 

Mr. Stoyanov, whose country has 
been shaken by 24 days of strikes and 
demonstrations, said “unpredictable 
social consequences” would follow if 
tiie economic crisis was aggravated 
by the requirements on Bulgaria to 
meet its international debt obliga- 


tions. Mr. Stoyanov called on the 
European Union earlier Wednesday 
toheqihis coun&y out of its economic 
problems. 

Workers across Bulgaria carried 
out strikes Wednesday, a call 

by labor unions to press demands for 
early elections and prevent the So- 
cialists from forming a new govern- 
ment. 

The KNSB onion said hundreds of 
industrial companies had been hit by 
cme-hour work stoppages or open- 
ended strikes. 

Work stoppages also were reported 
in tiie transportation sector, postal 
services, schools and hospitals. The 


A mo-hour public transportation 
strike was planned for eariy Thursday 
in Sofia. (Reuters, AFP) 


Three years ago. Prime Minister John 
Major of Britain said that those killed in 
the shooting should be officially con- 
sidered innocent victims. But the Cath- 
olics want an official British apology, 
saying that the evidence in the book, 
statements by 700 local people, rein- 
forces their view that the official report 
was a whitewash and that a new inquiry 
should be held. 

Second, the Northern Ireland Office, 
which administers the province, said 
Sunday that it was considering a series 
of television spots that compared the 
sectarianism of Ulster with roe emer- 
gence of Nazism in Germany in the 
1930s. The purpose, said Sir Patrick, 
would be to warn both Catholics and 
Protestants where Northern Ireland 
might be headed. 

This caused mstanr protests from 
politicians apd newspapers. People in- 
terviewed in central Belfast described 
the idea as ludicrous, outrageous and 
insulting. The reaction has weakened the 
prospects that the television spots will 
ever be screened, according to Northern 
Ireland Office officials. Bui, the offi- 
cials said, the point has been made. 

Finally, an official panel is expected 
to propose Thursday that a commission 
be framed to control the parades, most 
of them Protestant, that have led to 
violence in recent years. Last July, 
widespread rioting followed a decision 
by the police to permit an annual Orange 
Order parade by Protestants through a 
Catholic neighborhood at Drumeree. 
southwest of Belfast. 

But both Catholics who want a com- 
mission and Protestants who suspect it 
will be hostile to them, doubt that it will 
be in effect before the marching season 
begins in July. 



■Hill 



A British soldier on Wednesday 
guarding the street in West Belfast 
where the IRA attacked an army 
patrol the previous night. 


Berlusconi’s Brother and Ex-Minister Are Geared of Extortion 


Carj&dbjOtrSli&FnmDifpatdKX 

BRESCIA, Italy — A court Wed- 
nesday acquitted former Defense Min- 
ister Cesare Previti and Paolo Ber- 
lusconi, the brother of fonner Prime 
Minister Silvio Berlusconi, of charges 
that they plotted to force a crusader 
against corruption to quit his prose- 
cutor’s post 

Judge Francesco Maddelo said the 
accusations of extortion against tiie de- 
fendants were “without substance.” 

The prosecutor, Antonio Di Pietro, 
had headed the “Clean Hands” cam- 
paign that exposed corruption among 
Italy’s political and business elite, and 
led investigations into Silvio Ber- 
lusconi. - 

He quit two years ago amid what he 
described as a campaign to discredit 
him. He went, on to become public 


works minister in Italy’s new canter-left 
government but resigned that post in 
November. 

On Monday, tiie Brescia substitute 
prosecutor, Raimonrio Giustozzi, called 
for the case to be dismissed, saying, “Di 
Pietro decided to leave the Clean Hands 
pool for reasons that had nothing to do 
with an alleged plot and which are not 
therefore the concern of this court.” 
During the course of the trial, wit- 
nesses testified about Mr. Di Pietro’s 
political ambitions and gave these as the 
reason for his decision to quit his post 
Italian news reports saia the court in 
the northern city of Brescia that con- 
ducted die four-month trial found there 
was no evidence of a plot to discredit 
Mr. Di Pietro. 

The trial grew out of a question that 
remains unanswered: Why did Mr. Di 


Pietro — at the height of his fame as a 
national hero — abruptly quit as Milan 
prosecutor in December 1994? 

Mr. Di Pietro, whose inquiries un- 
veiled systematic kickbacks between 
politicians and businessmen and 
toppled an entire political class, has 
depicted himself as the victim of a plot 
Among those he prosecuted fra 1 sus- 
pected corruption is Silvio Berlusconi, 
the media mogul who served as prime 
minister for eight months in 1994. 

When they opened the case, pros- 
ecutors charged that Paolo Berlusconi 
and Mr. Previti. a conservative senator 
who had served as Silvio Berlusconi’s 
defense minister, had organized a smear 
campaign with the aim erf forcing Mr. Di 
Pietro from office. 

Called to testify last month, Mr. Di 
Pietro invoked his right not to answer 


questions, saying papers that proved his 
accusations had been seized from his 
office by the police, and that he pre- 
ferred to read the court a statement The 
judge refused to let him read it 

Mr. Di Pietro’s refusal to testify ap- 
parently was a blow to the prosecution, 
which then formally requested that all 
the defendants be acquitted for lack of 
evidence. Also acquitted Wednesday 
were Ugo Dinacci and Domenico De 
Blase, who had been Justice Ministry 
officials. 

During the trial, Mr. Di Pietro's 
former boss and Milan’s chief pros- 
ecutor, Francesco Saverio BorreUi test- 
ified that Mr. Di Pietro threatened to 
“ruin” Silvio Berlusconi. Mr. Bor- 
reHi’s office is still leading the Clean 
Hands investigations. (AP, AFP ) 


Bombing Suspect 
Is Sent to Berlin 

SALONIKA, Greece — Greece 
extradited to Germany on Wednes- 
day a suspect in the 1986 bombing 
of a Berlin discotheque that killed 
two U.S. soldiers and a Turkish 
woman, the police said. 

Andrea Haeusler. 31 . was placed 
on a plane in this northern port city 
for a flight to Berlin via Munich. 
She was turned over to German 
police officials at Salonika air- 
port. (AP) 

EU Agrees to Fine 
Germany and Italy 

BRUSSELS — The European 
Commission adopted proposals 
Wednesday to fine Germany and 
Italy up to $500,000 a day in the 
first use of a tough new system 
designed to force EU states to com- 
ply with European legislation. 

The fines relate to five environ- 
mental directives — three for Ger- 
many and two for Italy — that the 
two countries have failed to apply 
in defiance of rulings in the Euro- 
pean Court of Justice. 

The application of the fines de- 
pends on the court agreeing to the 
commission's request for a second 
ruling against the countries. (AFP) 

Talks With Ciller 

ROME — Foreign ministers 
from five EU countries held talks 
Wednesday with their Turkish 
counterpart, Tansu Ciller, to discuss 
Turkey s ties with the European 
Union and its feud with Greece. 

Speaking at the close of the 
meeting with the ministers — from 
Britain, France, Germany. Italy and 
Spain — Mrs. Ciller said the ’talks 
were "concrete and beneficial” for 
everyone. tAFP) 

Ex-Envoy to Court 

NICE — Zaire's former ambas- 
sador to France has been 
summoned to appear in court in 
March over a car crash in which 
two French teenagers died, judicial 
sources said Wednesday. 

Ramazani Baya returned to 
France last week after President 
Mobutu Sese Seko announced his 
resignation so be could face 
charges over the accident in 
November. He will appear in court 
in Nice on March 25, officials 
said. (AFP) 



REPUBLIC OF ECUADOR 

CONSTITUTIONAL GOVERNMENT OF ATTORNEY 
ABDALA BUC ARAM ORTIZ 

MINISTRY OF ENERGY AND MINES 


MINISTERIO DE ENERGIA 
Y MINAS 


."tiT-T- — ' " t 




IlTCAL petroleoshdi 


ECIL 


WFf- 


PETROECUADOR 

EMPRESA ESTATAL 
PETROLEOS DEL ECUADOR 




TO THE SPECIAL TENDER FOR THE CONTRACTING OR|p% 
PRIVATELY OWNED CENTRO - Oj^ENTE PIPELINE SYSTEM (g 


'ORTATION SERVICE FOR CRUDE OIL, USING THE 
fePROJECT, A SEPARATE PIPELINE FROM THE SOTE 


which they were formed, with recognized ability ja the activity 
which is the subject of this Tender, which may forn^int veriture§ 
among themselves, such as consortia or associations, e^feqa 


-^ppjmence at Sadraand conttectwith Hnalicodqu Sarayacu, Baezsr- 
. -sh^'foflow in paraller tothe.. TjanseCu^dorian Oti Pipe^-; \ 

using the SOTE right of way, up to the Balsa) Tfenjti- - 


ventures are not yet legally registered in Ecuador, s&jetto ' y \ 1 5O>0OO,oa (Oi 

approval by the Ministry of Energy and Mines, to participate -J ryV ,-' : VO States of Amer 

“Special Tender OI-SOCO-CEL-97 for the Contracting of Tran^ ^Sfc^I nbe; contractor shall mstafl a secondary line of a^maxinial^ylSO Vf in Ecuador. to 
portation Service for Crude Oil”. V ^^^®OTU9f>API-5l^X60, 12" pipeline that will connect Auca.S^wkfc^^'j.Treasurer, first 

V* -^^pfttfSacha(SOCO) Station. - . .^-‘^?^ Strcetand ^ 

in order io Drovide the crude oil transportation service!- the contra^K^ s ' * . i' 


abl©. as of 09:00 hs. of February 3, 1997 by the PETROECUADOR s 
Oil. Pipeline Department located at 230 Japon Street and Rio 
Amazonas Ave.. Carolina Park Building, fifth floor, in the city of 
Quito, Ecuador, Fax (593-2) 44 1 -090, Telephone 1 593-2] 440-37!. 
upon registration and payment of a non-reimbursable fee of USS 
1 50,000,00 (One Hundred and Fifty Thousand Dollars of the United 
States of America) by certified check drawn on a bank established 
in Ecuador to the order of PETROECUADOR, delivered to its 
Treasurer, first floor of the Alpallana Building, located at Alpulluna 
Street and 6th of December Avenue in the city of Quito, Ecuador. 


In order to provide the crude oil transportation service^ the contraol 
tor shall build and operate at its own account and risk, in accag 
dance with the legal provisions and regulations in force, a maj| 
pipeline system independent of SOTE, called the Cbntro Orienjl 
Pipeline System, SOCO. ** 

The investment, construction, operation, maintenance. adnrinistra| 
rion, financing, as well as taxes and any other costs and expensol 
necessary for the timely and efficient transportation |eivice, shal 
be tome by the -contractor. * | 

The SOCO shall have a transportation capacity, authorized by the 
Ministry of Energy and Mines, of 216,000 barrels of oil per day 
from the Sacha Station up to the Sarayacu Station, and 246,000 
barrels of oil per day from the Sarayacu Station up the ?alao Ter- 
minal. for crude oil of a gravity of 18 degrees API, l. 000 SSU, at 
125 degrees Farenheit, through a API-SL-X65 steel pipeline. Ad- 


t.^aaondary system of 30 km of API-5L-X65, 24" pipeline sh^J^e' £$$ j£ln accordance with Art. 49 of the Regulation for the Application of 
pjjji&aiied connecting the Limoncocha Station to the Sacha Amendment Law to the Hydrocarbons Law No. 44 and Execu- 

^ftopsping Station. - V *- tecree 3730- published in the Official Register No. 931 of 

~v. *T. : ' •• ■■ ----- April 23, 1996, interested companies must, prior ro the submittal of 

fatal t ti f»y|br ?5QjiQQflAara^fe bids, be qualified by the Ministry of Energy and Mines. For the 

KauSe Saii^'(SOCOyStatiOT'ttnriJ^ qualification by the Ministry of Energy and Mines, the Ministry 

|vcrtu|£ <til Bal ao Terminal^ ^ *- \ ? *.-■■ — ■ 'i 1 ' ’• f must receive the legal, financial and Technical documentation listed 

yV . , ^ * ■***-'“* - '■ f'r in detail in the Instructions for Qualification, issued through Mi- 

rnncmicr n nisterial Agreement No. 025 of October 24. 1 996 published in the 

irjiri (SQTE) fehks; Official Register No.63 of November 7. 1996 and its list of errant 

published in the Official Register No. 75 of November 25. 1 996. 


.- — l. .v.- 

aD $so construct i3tercon nectionsljp gKrui 






dilionally. the SOCO shall have the capacity to transport crticteoil- «^^;cORuaanic^on-jmd SC ADA sysfctaral v3f- . 

equal to or above 1 6 degrees API gravity. The project includes^be ^ ? V - ' ’ ... C "T V ~ ' 

construction of approximately 5 14 km of pipeline, made up of 280 - Th$J2tontrarai#-Bs8es^ Decree Np.423 of 

km of a 24" pipeline. 65kmofa 18" pipeline and 169 kro of a 28" , " “"December 30,^996 an^j^nsjjed ^Official Register No. 101 of 
pipeline. •' ' January 3. 1 997 and bidding documents, shall be made avail- 

• - • *■ ■ . v — > 

. • '<■:* 

Lcdo. Alfredo Adum Z. " 

Minister of Energy and Mines 

Chairman of the Special Bidding Committee 


s^fofThdr narrect ami safe ot 




* 


The bids shall be submined in the Spanish language, in one origi- 
nal and one copy, in a single package containig sealed envelopes 
numbered I and 2, duly paginated in consecutive pages and inr- 
tialed-qn each page by the Legal Representative of the Bidder, and 
shall be'received in the office of the Secretary of the Special Bid- 
ding Committee, (CEL), ninth floor of the Alpallana Building. 
Alpallana Street and 6th of December Ave., in the city of Quito. 
Ecuador, until 16:00 hs. of Monday. April 7. 1997. 

Quito, January 23, 1997 


Gen. Patricio Lopez M. 

Executive President of Petroecuador 
Secretary of the CEL 






INTERNATIONAL HERALD TRIBUNE, SATURDAV-SUNOAy. CTMBJAIOf 1-2, 




PAGE 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30, 1997 





INTERNATIONAL 


Paris’s Defense Accord With Bonn Riles French Parliament 


Bv Joseph Fitchett 

Iniematii’iuil Herald Tribune 

PARIS — A French-German decla- 
ration designed to improve military co- 
operation has backfired, forcing an 
emergency parliamentary debate Wed- 
nesday here about security policy and 
increasing tension about France's role in 
NATO. 

The dispute, German and French of- 
ficials said, seemed to spring mainly 
from clumsy political management in 
Paris rather than from the substance of 
the document, which outlined French- 
German thinking about nuclear de- 
terrence, military operations and defense 
industrial teamwork. 

Opponents of President Jacques Chir- 
ac of France, angered at not being told 
sooner about the accord, have seized on 
a phrase in the declaration that commits 
both countries to pursue their defense 
cooperation “within a European and 
trans-Atlantic framework.*’ 


Hie Socialist leader. Lionel Jospin, 
accused Mr. Chirac on Wednesday of 
abandoning French ambitions for Euro- 
pean defense and following Germany's 
lead back into NATO. 

But. denying that the accord breaks 
new ground on NATO or any other 
aspect of defense, officials in Bonn and 
Paris characterized it as a codification of 
existing military cooperation whose 
main aim was to suggest progress on 
political integration as the European 
Union moves toward a single currency. 

[The German defense minister. VoUt- 
er Ruehc, said Wednesday that the plan 
would help Europe's efforts to find its 
own identity within NATO. Reuters re- 
ported from Bonn. 

[“We are now building up with 
France a European identity within 
NATO,” he said in a television inter- 
view.] 

The accord's main assertion — that 
France and Germany have die same se- 
curity interests — is a familiar slogan in 


Singapore Moves to Curb 
Defendant in Libel Suits 


Avemre Fruiiire-Presse 

SINGAPORE — Singaporean au- 
thorities turned up the pressure Wed- 
nesday on an opposition Figure who is 
facing libel suits, saying they had can- 
celed" his wife’s travel documents fol- 
lowing a tax inquiry. 

Hie Ministry of Home Affairs said tax 
officials concluded that Teo Siew Har, 
the wife of Tang Liang Hong, should not 
be allowed to leave Singapore until the 
Inland Revenue Authority completed 
the investigation. 

Mr. Tang, a prominent ethnic Chinese 
community leader and member of the 
opposition Workers' Party, has been 
served with an injunction to set aside 
1 1.2 million Singapore dollars ($7.9 
million) to meet liabilities that could 
arise from the defamation lawsuits he is 
facing. 

Those who took out the injunction 
include Prime Minister Goh Chok Tong, 
Senior Minister Lee Kuan Yew and nine 
members of Parliament. 

Mr. Tang was sued for remarks he 
made about the top officials of the gov- 
erning People's Action Party critical of 
their behavior toward him during the last 
election campaign. 

Mr. Tang is reported to be in London 
consulting legal experts after leaving 
Singapore following general elections 
Jan. 2 that brought him to the political 
limelight. 


The People’s Action Party swept 81 of 
the 83 parliamentary seats in the elec- 
tions. but in a five-seat constituency, Mr. 
Tang’s ticket grabbed 45 percent of the 
vote. 

Tax officials said Miss Teo had been 
involved in moving some of Mr. Tang’s 
files from his office to their home and 
“may also be involved in the admin- 
istration of Mr. Tang's tax matters.” the 
Home Ministry said 

The ministry said it had told immi- 
gration authorities to cancel “all the 
passports” issued to Miss Teo. She was 
prevented by immigration officials from 
leaving Singapore for Malaysia on 
Monday. 

In addition, the Inland Revenue Au- 
thority seized tax documents from Mr. 
Tang's home and office Monday fol- 
lowing reports that he had properties 
here :ind in Malaysia that he planned to 
sell. 

The New Paper quoted the 61 -year- 
old la.yer as saying: “What do the 
ministers want: A chance to clear their 
name, or my property and money? This 
is a huge legal battle, and I need to raise 
the money to fight it oul I am not 
running away.” 

A lawyer for Mr. Goh said the legal 
injunction was necessary because it ap- 
peared that Mr. Tang “intends to stay 
out of Singapore" and had “also taken 
steps to remove his assets" from here. 


both countries. In fact, however, the 
relationship between Bonn and Paris 
was already under pressure, a situation 
that started last year when Mr. Chirac 
significantly revised France’s military 
posture without informing Boon. 

French and German officials acknow- 
ledged that the document was designed 
in part to avoid a repetition of that mis- 
understanding, but wound up emphas- 
izing the gap between the accord's am- 
bitious goals and its lack of substance. 

On nuclear deterrence, the document 
calls for consultations between Bonn 
and Paris — a formula that falls short of 
the goal of “concerted deterrence’ ’ that 
has been voiced in the recent past. In- 
stead, the actual words are a formulation 
adopted at a NATO summit meeting in 
Ottawa in 1984. Even the anti-auclear 
political factions in Bonn hardly mur- 
mured at that this week. 

On combat cooperation, there is no 
significant change, while otr defense in- 
dustries, hopes for cooperation are 


loftily phrased, ignoring the problems 
that have dogged most French-German 
projects during the budgetary squeezes 
in both countries. 

In Parliament. Mr. Jospin and other 
Socialists spent little time discussing 
Kerch-German cooperation, concentrat- 
ing instead on NATO in an effort to 
appeal to a minority among the Gaul lists 
who object to Mr. Chirac's decision to 
rejoin the NATO military command. 

In effect, politicians said Wednesday. 
Mr. Jospin has seized an opportunity to 
attack Mr. Chirac's handling of security 
issues — a policy area dial French pres- 
idents normally manage to keep away 

from parliamentary challenge. 

Although the Gaullists enjoy a huge 
parliamentary majority, Mr. Chirac has 
not established a strong international 
record during his 1 8 months in office and 
may now have become somewhat vul- 
nerable over his NATO policy. 

After announcing in 1995 dial France 
would rejoin NATO as part of a new 


French approach toward European mil- 
itary integration, Mr. Chirac has deman- 
ded control of NATO’s southern 
headquarters in Naples as the reward for 
France’s return — something Washing- 
ton opposes. But Mr. Chirac's position 
may become harder now that a domestic 
dispute has been ignited about NATO. 

The spark was the publication by the 
newspaper Le Monde last weekend of 
excepts from the accord, reached by Mr. 
Chirac and Chancellor Helmut Kohl m 
December in Nuremburg. The text was 
doe for publication this week. 

The German government responded 
to the disclosure id Le Monde by rushing 
the full text to Parliament in Bonn in 
time for a relatively smooth reception on 
Tuesday. Blit the French government did 
nothing, infuriating its Parliament. 

The mood of mdignation engulfed 
segments of die conservative majority, 
so the government apparently felt iso- 
lated enough to accept an embarrassing 
debate. 


: a. \ 






AjU Knma/Tbc Ano ciM d Pico 

BORDER GUARDS, OLD STYLE — In dian border guards riding in front of the presidential palace in 
New Delhi on Wednesday during a ceremony marking the end of Republic Day celebrations. 

Helicopters Help Rescue in Bombay Fire That Kills 3 


Compiled by Otr SuffFmm Oqxmdta 

BOMBAY — A fire spread through 
the top stories of a 25-story office build- 
ing Wednesday, killing three persons and 
trapping others for about an hour high 
above the beaches of the Arabian Sea. 

Fire fighters' ladders reached to only 
the 14th floor, so rescuers had to bring 


people down the stairs to that level. 
About 21 people were evacuated 
through 14th- floor windows to safety. 

Two naval helicopters rescued some 
people from the top of the budding, 
witnesses said. Three bodies were found 
on the 21st floor, where the fire was 
believed to have started, said a deputy 


fire chief, M. G. SarkocL Hie fire was put 
out in an hour, and Mr. Sarkod said all 
people in the building appeared to have 
been accounted for. The cause of the 
blaze was not known. 

Officials said the fire had taken hold 
just before 10,000 people were to report 
to the building for work. - (AP. AFP) 


Army Said to Kill 
1,000 in Burundi 

GENEVA — Burundi’s mainly 
Tutsi army, which took power in a 
coup last year, has killed at least 
1,000 people since the start of 
Decemoer. the United Nations said 
Wednesday. 

The UN human rights office, is- 
suing evidence of the killings in the 
seven weeks to Jan. 21, said they 
marked a new escalation m vio- 
lence in a three-year war between 
the Burundian' Army and rebels 
from the Hum majority. . 

Hie UN body said Hutu rebels 
were responsible for die killing of 
58 people In the same period. ' 

-worsening violence was accom- 
panied by an army policy of force- 
ful relocation of Hutu peasants and 
die increasing use of land mines by 
the .warring sides, the Geneva- 
based UN body said. (Reuters) 

Pretoria Reassures 
The U.S. on Arms 

JOHANNESBURG — The U.S. 
ambassador to South Africa said 
Wednesday that a proposed South 
African arms dead with Syria was a 
“nonissue” for now. 

The ambassador. James Joseph, 
said a decision on the sale of tank- 
firing systems was at least two 
years away, and that he hod re- 
ceived assurances from Deputy 
President Thabo Mbeki that South 
Africa would consult extensively 
with the United States before mak- 
ing the decision. 

“I am reassured," Mr. Joseph 
said at a briefing for reporters on a 
coming visit by Vice President A1 
Gore. "I feel at the moment this is 
really a nonissue.” 

The United States opposes a sale 
— worth $650 million to South 
Africa — because Syria is on die 
Slate Department list of countries 
that sponsor terrorism. It also fears 
that strengthening Syria’s military 
capability could make Middle East 
peace talks more difficult for Is- 
rael. 

Mr. Joseph sought to soothe an- 
ger in South Africa over what was 
regarded as a U.S. threat to cut aid if 
the deal went through. He said gov- 
ernment spokesmen were merely 
pointing out that U.S. law prohibits 
some forms of aid to countries that 
sell arms to countries on the list of 
terrorism sponsors. 

4c We greatly respect . and 
strongly support South African 
sovereignty, ’ be said. (Af!) 


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YEN : For Japanese Business, the Currency Pendulum Has Swung Too Far 


Continued from Page 1 

are reaching the point where negatives begin 
to outweigh the positives.” 

One of the big negatives right now is that a 
weakening yen has contributed to a big fall in 
the stock market since the beginning of the 
year. Declining stock prices could undermine 
consumer confidence and weaken Japan's 
already wobbly banks, which count unrealized 
profits from their stock holdings as capital. 

Usually, a weaker yen bolsters the stock 
market because it is considered good for Ja- 
pan’s export-oriented industries. But this time, 
the yen and the Nikkei index are falling to- 
gether. One reason is that both declines have a 
common cause — loss of confidence in Japan's 
economy as another slowdown looms. Another 
is that the falling yen makes investment in 
Japanese stocks less attractive for foreign in- 
vestors. 

The weakening yen also hints the segments 
of the economy that depend on imports, such as 
chemical companies, electric utilities and food 
processors. This could lead to inflation as the 
prices of imports climb, though this has not 
happened yet to a noticeable degree. 

Japan is still a big net exporter. Its mer- 
chandise trade surplus dropped 32 percent in 
1996 but was still 6.74 trillion yen ($55.6 
billion). On the whole, therefore. Japan prob- 
ably benefits from a weaker yen, which makes 
its exports more competitive. 

Thru might explain confl icting signals from 
Tokyo about the currency moves. On Friday, 
when the dollar rose above 120 yen for the 
fust time since February 1993. a Bank of 
Japan official said the yen’s fall had helped 
the economy. 

But news reports that same day said the 


central bank had intervened in the currency 
markets to prop up the yen. 

The exchange rate was about 125 yen to the 
dollar at the beginning of 1993 when the dollar 
began a fall that took it to 80 yen to the dollar in 
April 1995. Since then, due partly to market 
intervention by Washington and Tokyo, the 
dollar has risen almost 50 percent 

For companies that reacted to the yen's rise 
by moving manufacturing offshore, the recent 
fall of the yen is a mixed blessing. 

"All of a sudden you're looking at die cost 
advantage they thought they had evaporating,” 
said Quick Goto, director of research at Smith 
Barney International in Tokyo. 

Tamotsu Iba, the chief financial officer of 
Sony Corporation, said he had "mixed feel- 
ings” about the recent currency moves. Each 
one yen rise in the dollar adds 5 billion yen to 
the company’s profits. But Sony has been 
moving manufacturing offshore to create a 
structure in which its earnings would be im- 
mune to exchange-rate changes. 

Fujitsu Ltd., Japan’s largest computer 
maker, says it has already achieved such a 
structure. That is in sharp contrast to 1993, 
when each one yen fall of the dollar cost the 
company 1.6 billion yen in profits. 

Takas hi Moriya, director of corporate mar- 
keting and strategy for Fujitsu, said that the 
company began a big expansion of its per- 
sonal computer business about three years 
ago. With the yen strong, it began procuring 
most of its components from Taiwan and 
other foreign countries. The result is that its 
dollar-de nominated purchases of parts bal- 
ance its do liar-based exports, so that currency 
changes have no effect on its earnings. 

But Fujitsu is an extreme case. Most ex- 
ecutives in the automobile and electronics 


MINISTRY OF JUSTICE 

Secretariat of Penitentiary Policy 
and Social Rehabilitation 

NATIONAL AND INTERNATIONAL PUBLIC BIDS 

N" 01/97 and 02/97 


PURPOSE: “To draft plans and build two prison complexes, using ihe “turnkey” 
system. Hie construction shall be fully financed by the contractor and at his sole 
risk. Hie complexes will be built on property located in Ezelza and Marcos Paz 
in the Province of Buenos Aires, Argentina and leased to the Federal Government 
for use by the Federal Penitentiary Service.” 

Interested parties may obtain the relevant documentation from the Diraecion 
General de Mantenimiento y Obras Peniienci arias (general Office of Prison 
Construction and Maintenance) after depositing the sum of US$15,000.- (fifteen 
thousand U.S. dollars/pesos) for each tender specification at the Departemento de 
Tesoreria (Treasury) located at Sarmiento 327/329, 4th floor, Buenos Aires, 
Argentina. This office is open to the public from 10:00 a.m. to 04:00 p_m. The 
deadline for payment is February 10, 1997. 

Bids shall be received at the headquarters of the Ministry of Justice, located at 
Sarmiemo 327/329, 11th floor, Buenos A ires, Argentina, from 10:00 a^n. to 
04:00 P-itl until April 14, 1997 and will be opened at 05:00 p.m. on that date. 



industry admit that the weaker the yen, the 
stronger their profits. 

"I don’t think it could ever be too weak,” 
said Gary Hexter, a senior managing director 
of Mazda Motor Corp. Honda Motor Co. says 
it gains 6 billion yen for each one yen rise of 
the dollar. Hitachi Ltd. gains nearly as much. 

American auto executives have been com- 
plaining about the stronger dollar, which is 
allowing Japanese manufacturers to gain share 
in the American market and hurting the ability 
of Detroit’s Big Three to sell care in Japan. 

"For both countries. 1 10 is a comfortable 
rate,” Koichi Takagi, a managing director of 
Nissan, said in November, when the rate was 
around that level. “We are afraid of friction 
between the U.S. and Japan if it depreciates 
much further.” 

Others say that the strong yen, by squeezing 
tiie economy, put pressure on Japan to reform 
and deregulate its economy. With the vise 
loosened, there is a risk of complacency. 

“Maybe it was better if the high yen con- 
tinued for the sake of Japan, for Japan to be a 
truly better country,” said Nobuhiko 
Kawamoto, the president of Honda. 

With the yen so weak, some companies are 
bringing some manufacturing back to Japan. 
Fujitsu, for instance, which now procures 
virtually all of its personal computer mother- 
boards, the main circuit board, from Taiwan, 
will try to make 30 percent of them in Japan 
next year. It plans to bolster its production of 
cathode ray tubes in Japan from under 30 
percent to 50 percent 

Still, companies are not rushing en masse 
back to Japan. Part of the reason is that some 
factories abroad are aimed more at penetrating 
local markets than at reducing costs. Also , there 
is a belief the yen might strengthen again 


CHINA: 

Clinton’s Prediction 

Continued from Page 1 

being “honest and forthright where we dis- 
agree” had “the greatest likelihood of having 
a positive impact on China.” 

Mr. Clinton said, however, that he was ‘ ‘con- 
cerned” about indications China might restrict 
civil liberties when it takes over Hong Kong 
from Britain this summer. Noting that Beijing 
had promised to leave the system of gov- 
ernment in Hong Kong intact, he said “there 
may be some ambivalence” as to exactly what 
the Chinese leadership has in raind. 

‘Tm not so sure that it can exist,” the 
president added, referring to the Chinese lead- 
ership, “with all of its potential to help China 
modernize its own economy and open op- 
portunities for its own people if the civil 
liberties of the people are crushed. 

■ Panel Tells China to Make Progress 

A V.S. delegation visiting Beijing urged 
China on Wednesday to make improvements 
in human rights before the United States must 
decide whether to sponsor a UN motion con- 
demning Beijing's record. The Associated 
Press reported. 

The United Nations Commission on Hu- 
man Rights may consider such amotion when 
it meets in Geneva in March. U.S. officials 
have said they would examine China's human 
rights record before deciding whether to spon- 
sor the motion, but have sard they wanted to 
see progress. 

China is lobbying against any UN resolution 
critical of its human rights record. It suc- 
cessfully blocked a resolution at the UN com- 
mission last year for the sixth year in a row. 


TOYOTA: Euro Debate Comes Home to Britain 


Continued from Page 1 

If Mr. Okuda’s comments are confirmed, 
they could turn the already intense political 
debate in Britain up a notch in the weeks 
leading up to the general election, which must 
come no later than May. 

With a commanding lead of 20 percentage 
points in most polls, the opposition Labour 
Parry was quick to capitalize last week on die 
initial reports of Toyota's concerns. 

The Labour leader, Tony Blair, took the 
occasion to remind party stalwarts that ‘ ‘being 
a key leading player in Europe is in Britain's 
interests for jobs, for investment and for our 
influence and standing in the world.” 

Toyota’s Derbyshire plant turned out 


117,000 cars last year — most of them 
destined for showrooms in Europe. Nissan 
produced 231,000 cars at its plant in Sun- 
derland in. northeast England. 

In addition, Toyota executives in Europe 
said the company aimed to speed the pace of 
sales growth in Europe to 8.4 percent this 
year, Bloomberg News reported last week. 

The British trade and industry secretary, Ian 
Lang, meanwhile, said the concerns expressed 
by Mr. Oku da were not representative of the 
views of other big Japanese companies. 

"There are lots of views on these matters,’ ’ 
he said. “Japanese investment comes to Bri- 
tain because protectionist Europe offers no 
welcome, but Britain opened its doors to it, 
welcomed it and helped it to prosper here. 


Corsicans Claim Bombing at Air France in Nice 

Agence France-Prasr In a Statement, the Corsir- It — __u.. 


. BA S^°^ Cor : ££ 

sponsibility wSieSSy for at- ^ 

having planted a bomb that tacks on Corsica itself onthe Fnmrif 

seriously damaged an Air '‘Coreira S ^ loneer ph Finland since 

France office in Nice. watch while its economic flfr attacks V, ? len J 

The explosion, which went ric disappears d^tot^hS feudine l f sult - oi 

off late Tuesday in the city priceof hovel while comna fl ik» f & between nvai nanon- 
center, causing no casualties, nies continue to get rit* ” the on theTd °nrt ’ re 8“ ,ariy 
was the ninth attack on the statement Jd ’ S™. 

French mainland by Corsican The bomb was placed out- attaS ™ no 

nationalists since September, side the closed airLe office. iSor iv^l ye^ h main " 


said it had carried out the 
bombing, as well as 10 at- 
tacks on Corsica itself. 

'‘Corsica can no longer 
watch while its economic fab- 


The group has taken re- 
sponsibility for eight blasts 
on the French mainland since 
the end of September. Violent 
attacks, often the result of 


via i ywi w u iy m we feUjr 

center, causing no casualties, 
was die ninth attack on the 
French mainland by Corsican 
nationalists since September. 








INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30, 1997 


RAGE 7 


INTERNATIONAL 


No Cash at Mass? We Take Visa, Says a Church in Spain 


By AI Goodman 

New York Tunes Service 


MADRID — Pnests in the northern city of 
Leon have been assuring the faithful that everyone 
is welcome az church, even people who do not 
carry a Visa card. 

The explanations quickly followed the install- 
anon of a bank machine in the entrance of San 
Claudio]s Church, and it has been dubbed die 
electronic alms box. Parishioners can insert a bank 
or credit card, punch in die amount they want to 
donate and walk away with a receipt they can use 
to claim a tax deduction. 

A loc f 1 newspaper quipped in a headline, 
inrough Visa Toward God” But the Reverend 
Roberto Asenjo, (me of the priests at die Roman 


Catholic church, said there was no added pressure 
to contribute. 

“You can make a donation to the church 
whenever you want to,” he said 4 ‘The electronic 
alms box is one more way, an up-to-date method 
in keeping with the times. We see there are many 
people who don’t cany cash to Mass.” 

In the first 1 0 days after the little white machine 

was plugged in just before Christmas. San Clau- 
dio’ s took in $345 from 3 1 donors. The money was 
automatically deposited in a church account at a 
local savings association, which installed die ma- 
chine. 

In a note to the 9,000 parishioners in the middle- 
class neighborhood, the priests said die new method 
would permit privacy and reduce theft from the cash 
alms box, winch suffered repeated burglaries. 


The Spanish Episcopal Conference in Madrid 
said die electronic alms box was believed to be the 
Erst of its kind in Spain. ‘‘It's a bit odd but it isn't 
seen here as bad,” a spokesman said. 

San Claudio's has attracted notice among the 
160,000 inhabitants of Leon, 320 kilometers (200 
utiles) northwest of Madrid A local journalist 
reported that residents from other parts of town 
had dropped by just to see the alms box in action. 
The regional archbishop has indicated that he wiU 
send a representative to examine h. 

“Some people have accepted it.” Father 
Asenjo said of the new alms box. 

“Others think it is strange to see this machine at 
the church door.” 

Plans are already under way to install die next 
one at the cathedral in Leon, which is raising 


money to renovate the 13th-century Gothic build- 
ing. 

We’re going to the age of plastic money.” 
said the Reverend Mario Gonzalez, secretary- 
general of the Leon diocese. “It’s not that people 
weren't helping the church. But they need to help 
more.” 

The electronic alms box is the brainchild of 
Fatter Gonzalez, who once saw a similar machine 
at a charitable society in London. 

It will sot supplant the traditional collection 
methods at Sunday Mass of passing a velvet sack 
or handing donations directly to the priest. But 
these contributions lack receipts and are hard to 
verify for tax purposes. Father Asenjo said, be- 
sides requiring the donors to have cash or checks 
on hand. 


Tirana Arrests ‘Considerable Number’ for Riots 


Reuters 

TIRANA, Albania — Thei 
said Wednesday that it had arrested a 
“considerable number” of people across 
Albania following violent demonstra- 
tions that were set off by the collapse of 
get-rich-quick investment schemes. 

“In the districts where destruction 
and burning down of state institutions 
have taken place, the police have 
stopped and accompanied to the police 
stations a considerable number of cit- 
izens,” the Interior Ministry said in a 
statement. It did not say precisely bow 
many people had been detained. 

Rioting erupted across the nation last 
weekend as many investors who had 
gambled their life savings blamed the 
government for the collapse of several 
pyramid schemes. 

President Sali Berisha said earlier 
Wednesday that most investors who lost 
money in the investment scams might 
not be fully compensated. 

Hours later, the police in Tirana broke 
up an anti-government rally organized 
by Hazem Hajdari, one of the leaders of 
a 1990 revolt that toppled the former 
Communist regime. 

I Gover nment Blames Socialists 

Celestine Bohlen of The New York 
Times reported earlier: 

After a week of often violent demon- 
strations sparked by the collapse of sev- 
eral pyramid schemes, the governing 
Democratic Party of President Berisha is 
trying to shift the blame for tbe crisis 
onto its leftist opposition, accusing die 
Socialist Party of supporting the 
schemes and fomenting the protests. 

4 ‘These were terrorist acts that tried to 
distort the image of Albania, to block 
support from Europe and the world,” 
said Trii 


said Tri tan Shehu, foreign minister and 
chairman of the Democratic Party, who 
was roughed up by anti-government pro- 
testers over the weekend. “But those 
who try to sec fires in Albania will them- 
selves be consumed fay fire.” 

But to many Albanians who have lost 
their life savings in the crash, the gov- 
l eminent is to blame for never having 
warned against the risks of the high- 
flying investment schemes and for not 
moving to regulate them. 

Opposition parties have aaaised the 
’ Democrats of using the pyramid schemes 
to help finance their election campaign, 
'and they have noted that some leaders of 
tbe biggest investment schemes have 
close ties to the government. 

• Two months after the first pyramid 
scheme scandal and two weeks after tbe 
first officially declared bankruptcy, the 
government froze the bank accounts of 

' two other investment operations, seizing 

$255 miliion in assets. 

According to some estimates, Albani- 
ans had invested close to $1 billion in the 
schemes. 

As tbe poorest country in Europe, 
a with an average monthly income of $73, 
and one of its smallest, with a population 
■ of 3 J million, Albania can ill afford any 
large bailout 



Tbe Albanian government has closed this “foundation,” accusing it of running one of the pyramid schemes. 

ARMY: U.S. Defends Projectio Retrain th& Croat- MuslimArmy 


Continued from Page 1 

we’re concerned nothing be done to 
make one side feel too cocky and try to 
resolve things militarily.” 

The military aid plan was approved by 
President Bill Clinton in fidfifiment of a 
security pledge to tbe Bosnian Muslims 
that helped seal die 1995 Dayton peace 
accords. It has also received bipartisan 
congressional support. 

U.S. officials involved in the program 
see little danger of misuse, given Bos- 
nia's interest in maintaining Western 
ties and economic assistance. And they 
say the p ro gram has proved effective in 
realizing two American aims in the re- 
gion. 

First, it has driven the Muslim and 
Croat forces to agree to merge into a 
single army, which up to now has existed 
only on paper. The two armies were 
allied early in die Bosnian war, then 
battled each other in 1993 and 1994 
before resuming a loose alliance against 
the Bosnian Sobs. While Muslim and 
Croat soldiers still train in the field in 
segregated brigades, they recently 
formed a single command structure, and 
their commanders have started sitting 


■ side by side at a new leadership school 

Second, the promise of U.S. mflitaiy 
assistance compelled Sarajevo author- 
ities to close off channels of Iranian arms 
and training opened during the war, 
evicting most — though, according to 
witness accounts, not all — foreign Is- 
lamic trainers or fighters from Bosnia. 
While signs of Iranian influence in Bos- 
nia persist, threats to cancel the U.S. 
program led to the dismissal of a deputy 
defense minister, Hasan Cengjc, whom 
American officials portrayed as hostile 
to the U.S. program and close to ban. 

“I think we've largely captured the 
flow of arms into Bosnia,” said James 
Pardew, a Defense Department official 
who oversees the program. “In fact, this 
program has replaced Iran as tbe security 
guarantor of the Sarajevo government. I 
know of no other way this could have 
been done.” 

Tbe program is operated by a group nm 
by former U.S. Army generals called 
Military Professional Resources Inc. It 
hag operated a tnu^h gm»Tlw training ef- 
fort in Croatia since 1 994. For the Bosnia 
contract, it hired about 170 retired Amer- 
ican soldiers mid assigned them to all 
levels of the new joint military structure. 


ruptcy 

Mosl 


Midler EnfcnTVi Amoaml Pnm 


Working from makeshift offices on 
the third floor of a Sarajevo university 
building, they have devised an organ- 
izational plan far tbe new federation 
army that will include 30,000 to 35,000 
full-time troops, down from about 
250,000 daring the war. 

On the snowy hillside here in Tesanj, 
watching his platoon practice defensive 
positioning. Senior Lieutenant Nedzad 
Kopic said his only disappointment with 
the U.S. trainers had been their refusal to 
answer his questions about offensive 
operations. 

“We did expea more, but we’re 
thankful for what we’re being taught,” 
he said. “We’ll be able to learn the rest 
by reading between the lines.” 

■ Laser System for Bosnian Army 

The United States will give a laser 
guidance system to Bosnia's Croal- 
Mustim army, Mr. Pardew announced 
Wednesday, Agence France-Ptess re- 
ported from Sarajevo. 

The Lockheed Multi-Integrated Laser 
Engagement System will provide ad- 
vanced target training for the forces of 
the Croat-Muslim Federation. 


ALBANIA: 

Duping the Desperate 

Continued from Page 1 

lyst, die wave of huge losses may be 
subsiding because the former Commu- 
nist nations have learned how damaging 
the collapses can be. 

Thee years ago, a huge Russian in- 
vestment scheme called MMM col- 
lapsed after attracting about $1 billion 
with glitzy television ads promising cer- 
tain profits. 

In Serbia, milli ons were lost in Bel- 
grade by people who believed in huge 
monthly interest rates offered by the 
Dafina Bank in a type of pyramid 
scheme. In Romania, thousands of cus- 
tomers in the city of Kluj went to the 
local soccer stadium to hand over fistfuls 
of cash to promoters of a pyramid 
scheme called Caritas, or Charity. 

And now, in Albania, people have 
been entrusting their money to at least 10 
major pyramid operators, one of whom 
is a Gypsy fortune-teller, complete with 
a crystal ball wbo claimed to know the 
future — at least until she declared bank- 
two weeks ago and was jailed, 
lost of the schemes also appear to 
have been aided by government officials 
and prominent executives. 

Experts wbo watch Central and East 
European economies say tbe wave of 
swindles in these countries is sympto- 
matic of their lack of experience in West- 
em-style investment Popular under- 
standing is limited, regulatory protections 
are almost nonexistent, and many people 
are williqg to grasp at straws because they 
are in dire economic straits. 

“It is a very common phenomenon in 
post-Socialist countries,” said Jens Re- 
uter, an analyst at the Sudost Institut, a 
research organization in Munich that 
specializes in Central European eco- 
nomics. “People have very little ex- 
perience, so when they hear promises 
foal are impossible, inconceivable, they 
tend to believe them.” 

But, Mr. Reuter added, the life cycle 
of such pyramid schemes may already be 
drawing to a close as investors leant 
from their mistakes. 

“Albania was almost the only country 

this, and it may bethefest,” hesiud 

Experts say that more than naTvetd is 
responsible for the rise and spectacular 
collapse of foe Central and East Euro- 
pean pyramid scandals. In Russia, for 
example, inflation was so high three 
years ago that ordinary people were le- 
gitimately worried about simply parking 
their money under a mattress ana watch- 
ing it rapidly lose its value. 

“People are betting on miracles,” 
said Anneli Gabanyi, a Romanian-born 
economist at the Sudost Institut. who 
watched in disbelief as some of her own 
relatives invested in tbe Caritas 
scheme. 

“But if you had been through what 
these people have been through, it's not 
so hard to understand. If you had seen 
communism suddenly collapse, without 
violence, wouldn't you believe in mir- 
acles. too?” 


Meeting Is Set 
By Hashimoto 
And Fujimori 
On Hostages 

Cjoctird In Our SoS Fran Do/sarVi 

OTTAWA — Prime Minister Ryu- 
taro Hashimoto of Japan and President 
Alberto Fujimori of Peru will meet in 
Toronto ou Saturday to discuss ways to 
end the six-week-old Lima hostage 
crisis, officials said Wednesday. 

Japan has been growing increasingly 
concerned about how Peru is handling a 
standoff with leftist rebels holding 72 
hostages. 

Efforts to start talks with foe guerrillas 
have stalled over their main demand of 
freedom for about 400 jailed comrades, 
which Mr. Fujimori has refused to dis- 
cuss. 

In Tokyo. Mr. Hashimoto said that 
Mr. Fujimori wanted to meet “ as soon 
as possible.” 

On Tuesday, foe prime minister in- 
dicated Japanese concern that Mr. 
Fujimori was taking chances with the 
captives' lives by stepping up psycho- 
logical pressure on foe captors. 

Mr. Fujimori has ordered daily ma- 
neuvers by heavily armed police com- 
mandos outside foe Japanese ambassa- 
dor's residence, where Tupac Amaru 
rebels are holding the hostages. 

On Monday, dozens of police com- 
mandos paraded post tbe residence, on 
foot and in armored vehicles, while mil- 
itary music blared from speakers 
nearby. 

Hie rebels fired several gunshots. No 
one was hurt, but foe police said that a 
bullet nicked an armored troop carrier. 

Early Tuesday morning, rebels with a 
megaphone gathered at a window, 
singing the anthem “We Shall Over- 
come!” 

The police drowned them out, again 
switching on military music at high 
volume. 

On Wednesday afternoon. Red Cross 
officials took a stretcher into foe Jap- 
anese ambassador's residence, sparking 
speculation of an imminent release of a 
hostage. 

Mr. Fujimori and members of a com- 
mission formed to mediate possible talks 
with the rebels met Tuesday night with 
Japan ’s representative to Peru. Terusuke 
Terada. 

A Peruvian government negotiator, 
Domingo Palermo, said after foe meeting 
dial Mr. Fujimori was “studying the pos- 
sibility of closer coordination” with Ja- 
pan. 

Mr. Palermo said that Peru recognized 
that the ambassador’s house enjoyed 
diplomatic privilege and that Peruvian 
forces could not enter without Japanese 
permission. 

The rebels raided foe bouse during a 
cocktail party Dec. 17. They have since 
released all but 72 of foe 500 guests they 
took captive. 

Although the police tactics are getting 
bolder, there is little sign that talks may 
begin soon. 

Canada has been chosen for the site of 
the meeting between Mr. Hashimoto and 
Mr. Fujimori because of its role in trying 
to end the crisis and the convenience of 
its location for both leaders, officials 
said. 

Also, Canada’s ambassador to Fern. 
Anthony Vincent, is a member of a so- 
called peace panel foal it was hoped 
would be foe forum for negotiations be- 
tween the guerrillas and die government 

Both sides have accepted the panel's 
role in the crisis. 

The other members of the committee 
are Michel Minnig, the head in Peru of 
foe International Committee of the Red 
Cross, and Archbishop Juan Luis Cipri- 
ani of Lima. 

Mr. Fujimori has insisted that the po- 
lice maneuvers are not a prelude to an 
assault but a tightening of security be- 
fore the stan of talks and then a ne- 
gotiated exit. ( Reuters, AP, AFP) 


Castro Slams Post-Castro Plan Bomb Kills 4 IRAQ: White House Sees ‘Struggles for Power’ Around Saddam 


i Outmge' > Over US- Idea ofFmancrngNew Cuban Reginie 


Agence France-Presse 

HAVANA — President Fidel Castro 
has aymilftd a U.S. pledge of billions of 
dollars in aid for a post-Castro Cuba, and 
insisted that foe United States should not 
. underestimate Cuban resistance to tight- 
er U.S. sanctions. 

Blasting “their miserable Helms-Bur- 
con law an d foe most miserable plan yet 
to implement it,” which be said had been 
leaked to him before President BiH Clin- 
ton could send it to Congress, Mr. Casco 
said at a rally in a Havana park os Tues- 
day that the tighter sanctions would fafl- 

“They should make no mistake about 
it,” be said, “those reactionaries, those 
imperialist enemies must not underes- 
timate us.” 

On Tuesday, areport the White House 
handed to Congress said the United 
'States would be fort h co m ing in offering 
financial support for any transition to 
democracy in Cuba. 

The document said the United States 
could be expected to be the top con- 
tributor of international assistance Iticely 
to total between $6 billion and $8 billion 
- * ‘during a six-year period following 
establishment of a transition govern- 
ment.” 

International financial organizations, 
mul tilatera l governments and other gov- 
ernments would also contribute aid. the 
report said. _ 

The report was mandated by Congress 
under foe Helms-Bunon tow, which 
seeks to curtail foreign investment to 
‘Communist Cuba and toys out plans to 
help bring democracy to foe Caribbean 
councrjof 11 million. ^ 

eying to buy us,” Mr. Castro said. “They 
'are txyiqgto purchase the day of our 
would-be surrender.” • . 


“It is shameful that someone should 
imagine freedom and dignity can be 
bought,” he added, “that someone 
should imagine that for all the gold in the 
world we would be capable of agreeing 
to be slaves again." 

“Never will foe dragon be allowed to 
devour the lamb,” the Communist lead- 
er said at foe rally commemorating Jose 
Marti, considered to be foe father of foe 
Cuban independence. 

“We are awaiting news and more 
details on this Machiavellian policy,” 
Mr. Castro added, “and we will duly 
respond to it.” 

The United States and Cuba do not 
foil diplomatic relations, and 
Washington has had an economic em- 
bargo clamped on Havana for 35 years to 
try to undermine foe Castro govern- 
ment. . 

The Cuban government regularly in- 
sists that it is under the threat of a po- 
tential U.S. military action. 


And Hurts 40 
In Colombia 


Reuters 

BOGOTA — Suspected leftist 
rill as detonated a powerful bomb Wed- 
nesday that killed at least four people 
and seriously wounded mote than 40 
others as it ripped through a building in 
Medellin, the police sain 

General Luis Ernesto Gitibert, deputy 
director of foe National Police, attrib- 
uted die attack to Marxist rebels and 
suggested they were targeting the offices 
of a local businessman who runs one of 
the government-backed civilian self-de- 
fense groups known as convivirs. Rebels 
and human rights organizations say such 
groups are rightist paramilitary squads. 

The explosion in the city centra' went 
off at 1 120 AM. and was caused by a 
remote-controlled bomb made of about 
70 kilograms of dynamite. General 
Gitibert said. 


Continued from Rage 1 

headed by Defense Secretary William 
Cohen might want to demonstrate 
clearly to Mr. Saddam that if he does test 
U.S. power, tbe United States will re- 
spond. 

The administration might also want to 
avoid foe sort of split with its allies in the 
U.S.-led coalition that emerged last year 
after Saddam sent troops into northern 
Iraq. 

,s They want to lay the diplomatic 
lundwork” for a response now. Mr. 
rbsaid. 

Finally. Mr. Kerb suggested, attention 
to Iraq “could take tbe minds of tbe 
people at home off all tint’s going on,” 
infilnding assertions of irregularities in 

campai gn fund-raising. 

Mr. Burns said foal while there was no 
evidence of any Iraqi military moves that 
might pose a threat to Iraq’s neighbors, 
‘ we have learned with Saadam Hussein 
that, when he does peek his head above 
foe foxhole that he Has dug for himself in 
foe desert, it's always good to remind 


Manifesto Assails Swiss Government Over Nazi Gold 


The Associated Press 

GENEVA — Contending that the 
Swiss government has severely dam- 
aged foe nation’s image in its handlin g 
of foe Nazi gold affair, more than 100 
Hmp Swiss personalities issued a 
manifesto Wednesday urging a tum- 

ab ^mv^^Swiizieriaiid named Al- 
fred Defago as its new ambassador to foe 

United States after the resignation 
Monday of Carlo Jagmetti far un dip- 
Iranatic remarks about tte afiair. Afr. 
Defego is. general consul utfNew York. 


Actors, writers, university profes- 
sors and movie producers joined forces 
to demand a concerted government-led 
campaign against a rise in anti-Semit- 
ism in Switzerland. They also deman- 
ded a full revision of Swiss history to 
provide an. accurate picture of events. 
The signatories said they had felt “dis- 
credited by tiie behavior of Swiss b anks 
and foe ruling Federal ConndL” 
People signing the statement in- 
cluded foe authors Peter Biehsel and 
Adolf Muschg and Switzerland's best- 
known rock star, polo Hofer.Tbe state- 


ment was compiled in reaction to re- 
marks by ti>e departing pr es i d ent, Jean- 
Pascal Ddamuraz. wbo xn a New Year’s 
Eve interview characterized de m a n ds 
by Jewish groups that Switzerland pay 
compensation to Holocaust victims as 
“Mackmafl” and “extortion." 

“The standing and credibility of 
Switzerland as a democratic nation ate 
compromised and imperiled.” the 
statement said. “The behavior of foe 
president and the Federal Council has 
caused severe damage to our country’s 
view of itself and its culture.” 


him from time to time about foe reality of 
our relationship with him” and “to re- 
mind him of tire reality of who’s got the 
power in that part of tbe world." 

General Feay said there were no in- 
dications that Iraq might again seek to 
invade Kuwait, as it did in August 1990. 
But be cited a high-ranking person in 
Baghdad as saying that Mr. Saddam was 
persuaded that he could recapture 
Kuwait in a surprise attack, and fre- 
quently pondered doing so. 

Tbe general quoted reports that Mr. 
Saddam, who has been the target of 
assassination attempts over the years, 
was moving about more often than usu- 
al. apparently fearful for his security. 

General Pteay said: “I think it’s very 
interesting that Saddam has just put his 
wife under bouse arrest That is a report 
by a good source — that his wife is under 
house arrest.” 

He gave no details on where, how or 
why Mr. Saddam’s wife might have 
been restricted. But be suggested that the 
grenade attack last month on Udai Hus- 
sein, who is believed to have been the 
target of at least two earlier assassination 
attempts, might have heightened the 
president’s concerns. 

Tbe general also said that Iraqi forces 
had been increasingly active within the 
areas permitted by the post-Gulf War 
guidelines enforced by foe U.S.-led co- 
alition. 

Asked about that. Mr. McCutry said. 
“I am not aware of anything that would 
suggest any offensive designs” by Iraq. 

In tbe Dec. 12 attempt on die pres- 
ident’s son, assailants fired heavy ma- 
chine guns and threw grenades at a car 
carrying him through B aghdad 

Iraq has asserted that members of tbe 
Dawa Party, a Shiite Muslim group, 
carried out foe attack and then took 
refuge in Iran. Tehran has denied any 
involvement. 


Reports from opposition members 
have suggested that the attack stemmed 
from a business or a family dispute. 

“Udai has been hit very, very hard 
and has one or rwo bullets left in his 
spine and is semi-paralyzed," General 
Peay said. “He may lose his leg from 
gangrene.” 

Iraqi security forces have arrested 
hundreds of people since foe attack, in- 
cluding at least 20 senior military of- 
ficers and officials, according to op- 
position members. 

Anthony Cordesman, a specialist in 
Iraqi military affairs at tbe Center for 
Strategic and International Studies in 
Washington, cautioned that “one has to 
be very, very careful” in analyzing re- 
ports from Iraq. 

But he added: “What is dear is that 
Saddam is having problems within his 
family and clan.” 

Mr. Saddam’s sons, and particularly 
Udai, “are extremely unpopular, or at 
least seen as a threat, by foe immediate 
coterie he has relied on,” Mr. Cordes- 
man said. 

He noted, however, that Mr. Saddam 
has destroyed opposition in foe past, and 
said that to suggest that he was now in an 
insecure position was “a leap for which 
there’s tittle immediate justification and 
few historical parallels.” 

The United States and its Gulf War 
allies have maintained a strong military 
force in foe region since foe Gulf War 
ended in a rout for Mr. Saddam's forces. 
More than 200 U.S. and allied warplanes 
are based in the area, backed by strong 
naval forces. 

While no U.S. troops are permanently 
based in Kuwait, hundreds move 
through tbe sheikhdom or are based 
there in temporary roles as advisers. 
Next month, a battalion of 1.200 army 
troops is scheduled to conduct exercises 
in Kuwait. 







janJi&r 


inteknatk 





PAGES 


THURSDAY JANUARY 30,1997 


EDITORIALS /OPINION 


Heralb 



nnusmco with the new you times and tiik Washington post 


uHteioi rosr I Let's Hope France and Germany Get It Right 

• A nAArorl Niiwwri 


A Peace Consensus 


Something new and important has 
emerged in Israel in recent weeks — 
the makings of a consensus on peace- 
making with the Palestinians. One 
clear sign came In the decisive 87-to- 
17 parliamentary vote supporting die 
Hebron agreement two weeks ago. An- 
other is the set of guidelines for a final 
peace settlement jointly endorsed by a 
number of leaders of both the Labor 
and Likud parties. 

Less than a year ago Israeli society 
was sharply divided. A Labor-led gov- 
ernment was ready to push ahead to- 
ward a final territorial settlement that 
would have conceded most of the oc- 
cupied Gaza Strip and West Bank, 
outside Jerusalem, to the Palestinians. 
The Likud-led opposition was opposed 
to the initial round of Israeli troop 
withdrawals and remained determined 
to keep most of the West Bank under 
permanent Israeli control. 

But seven months in power has 
shown the Likud mainstream, includ- 
ing Prime Minis ter Benjamin Netan- 
yahu, that a strong majority of Israelis 
believe in trading Palestinian-inhab- 
ited territory for a secure peace. 

Much of Labor, meanwhile, includ- 
ing some of the party's most prominent 
doves, now understands that without 
securing a consensus for peace there 
can be Utile prospect for successful 
negotiations on die critical issues that 
remain. These include the future of 
Jerusalem, Jewish settlements, secu- 
rity arrangements and the possibility of 
Palestinian statehood. 

The joint peace guidelines an- 
nounced on Sunday are based on three 
central principles. Palestinians should 
be able to establish their own self- 


Rebuilding Chechnya 


In the Caucasus region on Russia's 
southern border, the breakaway 
province of Chechnya has conducted a 
peaceful and democratic election. The 
world’s nations, although not recog- 
nizing Chechnya as an independent 
state, should salute this for the achieve- 


ment it is. During most of the past two 
years Chechnya nas been at war, fight- 
ing off the vast Russian army in a 
struggle that kille d thousands and dev- 
astated cities and countryside alike. 

The Chechens not only put down 
their guns to vote in large numbers on 
Monday; they apparently elected, by a 
wide margin, the candidate most com- 
mitted to dialogue with Russia and to 


peaceful reconstruction, Aslan Mas- 
khadov, rejecting a fire-breather re- 
garded by Russia as a leading terrorist. 
Russian President Boris Yeltsin 
signaled the Kremlin's relief in a state- 
ment that hailed the election results as 
giving “a serious chance for product- 
ive negotiations to continue." 

No one should read too much into 
these results, however. The Chechens 
may have voted for peace but they are 
as committed to independence as ever. 
Mr. Maskhadov led the military cam- 
paign against Russia, and be, like every 
one of the 13 candidates in Monday’s 
election, considers Chechnya an in- 
dependent country already. All that 


remains now, he said on Tuesday, is to 
secure world recognition. 

For its part, Russia insists that 
Chechnya is and will remain part of 
Russia: but Russia, having lost the 
war, has withdrawn all its troops and 
enjoys little practical sway over the 
small province. Russia's perpetually 
grumpy foreign minister, Yevgeni Pri- 
makov, complained about inter- 
national observers monitoring the 
election, for example, but the observ- 
ers (sent by the Organization for Co- 
operation and Security in Europe) for- 
tunately were not deterred. 

The ambiguity of Chechnya's status 
serves both sides for die moment, 
and other nations should do nothing to 
disturb it Mr. Maskhadov seems wise 
enough not to rub Russia's nose in its 
defeat but to concentrate inwtad on 
rebuilding Chechnya. 

Russia has a moral obligation to help 
in that reconstruction, but don't hold 
your breath. More promising are areas 
where the interests of both Russia and 
Chechnya could be jointly served, 
such as the routing of an oil pipeline 
from Azerbaijan through Chechnya 
toward the West 

Chechnya will need many years to 
recover from Russia’s brutality. At least 
now the process can get under way. 

— THE WASHINGTON POST. 


Good News on AIDS 


The news on AIDS deaths in New 
Yoric City is startling. Scientists 
gathered in Washington for a five-day 
AIDS conference last week were 
buoyed by the Latest statistics from 
America’s largest city, which has 16 


percent of the country’s AIDS cases. 
The heartening surprise is that the 


The heartening surprise is that the 
number of people who died of AIDS in 
New York dropped from 7,046 in 1994 
to 4,944 last year. The cause is not 
entirely clear. But, as one doctor re- 
marked at die conference, "It's good 
news, and we haven’t had a lot of that 
in the AIDS epidemic." 

In spite of the fact that the first of the 
new protease inhibitor drugs was li- 
censed only in December 1995, and 
the other two last spring, these medi- 
cines surely account for much of the 
decline in deaths already. Health ex- 
perts in New York also credit the in- 
fusion of federal money, under the 
Ryan White Act, which enables them 
to treat many more patients and more 
of the complicating illnesses that often 
hasten AIDS deaths. 

Some progress also must be the re- 
sult of education programs and be- 
havior modification undertaken in the 
years before the new drugs became 
available. Those who did not contract 
HIV four or five years ago are not 
dying now. Bui it is still unclear why 


this phenomenon has not occurred in 
San Francisco, for example, where 
AIDS deaths rose slightly last year, or 
in Los Angeles, where the drop was 
much smaller than in New York. 

The downside of the good news is 
that it may induce complacency. If 
those most at risk of AIDS mistakenly 
believe that the disease now can be 
cured, they may become careless about 
avoiding behavior that transmits the 
virus. The new drugs have been used 
for only a short period of time. Their 
effectiveness may decline with use. 
Many people with AIDS are not helped 
by protease inhibitors. And some, par- 
ticularly addicts and others with dis- 
organized lifestyles, find it difficult to 
keep to the 30-pill-a-day regimen that 
produces results. 

Finally, although the New. York 
figures are cause for joy in the United 
States and Europe, where government 
sendees are generous and public health 
is generally good, they are meaning- 
less in those parts of the developing 
world where the epidemic is rampant 
and resources for treatment are ex- 
tremely scarce. 

The need for continued education, 
research and subsidized care for the 
afflicted continues even as the good 
news from New York justifies hope. 

— THE WASHINGTON POST. 


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W ASHINGTON —Two centuries 
of bitter conflict and proud di- 


governiog “political entity.” Israel 
Should retain the right and ability to 
defend itself, including special secu- 
rity provisions in die Jordan Valley. 
Finally, no Jewish settlements should 
be forcibly uprooted, although some 
outlying communities may be surroun- 
ded by Palestinian-ruled territory. 

The leadere agreed that Jerusalem 
must remain united under Israeli sov- 
ereignty, but that a Palestinian admin- 
istrative capital might be established m 
the suburbs and special status provided 
for the city's Muslim and Christian holy 
places. P ar tic i p an ts failed to reach a 
consensus on other key details, for ex- 
ample, whether the Palestinian “polit- 
ical entity" should be called a state. 

For the Likud participants, the 
guidelines represent the first explicit 
acceptance of eventual territorial par- 
tition. For those on the Labor side, the 
biggest step involves recognizing the 
permanence of settlements. There was 
no Pales tinian participation in drafting 
the guidelines, but some of the pro- 
visions on Jerusalem reflect ideas in- 
formally worked out between Israeli 
and Palestinian negotiators when the 
Labor government was in power. 

The negotiating guidelines are not 
binding on either Labor or Likud. But 
foe proposals, and the process that pro- 
duced them, make it more likely that 
Israel can be united as it addresses the 
emotional issues deferred to the final 
round of peace talks. Setbacks to 
Mideast peacekeeping can come at any 
moment, but so can surprising ad- 
vances. Few have been as important as 
foe growing convergence of Labor’s 
and Likud's positions on peace. 

— THE NEW YORK TIMES. 


VV of bitter conflict and proud di- 
versity have produced a modem 
Europe in which the Germans control 
the money and the French have the 
bomb. Imagine the world’s dilemma if 
it were the other way round. 

Yet Europe’s fundamental postwar 
equilibrium is being tinkered with, in 
talks between Paris and Bonn. Bubbles 
float to die surface suggesting strong 
currents clashing over the proposed 
creation of new European institutions 
andaEurcMninency. 

No need to run to your currency 
broker's office or die cellar yet No one 
in power is proposing a complete re- 
versal of foe effective balance of power 
that these two old adversaries estab- 
lished after 1945 and after fighting three 
wars in 70 years. No one is proposing a 
German finger on the nuclear trigger or 
a French hand on the. crank of the 
Bundesbank's D-mark printing press. 

But lesser changes crowd in as the 
millenrmrrn - finding deadlines for Euro- 
pean integration mandated by foe 1991 
Maastricht treaty approach. The rest of 
foe world has an enormous stake in how 
foe European experiment turns out. 

Maastricht, as the integration pro- 
cess has come to be known, is a French- 
inspired effort to restrain the enormous 


By Jhn Hoagland 


power dial a reunified Germany could 
exert in Europe after the Cold War. 


Sensitive to the past and to European 
acceptance of unification in 1990, 
Chancellor Helmut Kohl works hard to 
show support for these French ideas. 

That amiability seems to lie behind 
Mr. Kohl’s joining French President 
Jacques Chirac on Dec. 9 in signing a 
c on fidential "common strategic con- 
cept” paper that commits both nations to 
“a dialogue cm foe role of nudear de- 
terrence m the context of a European 


an old French idea that surfaces pen- 
odically. Paris likes holding out the. 
possibility to the Germans of some 
revolvement in French nuclear policy 

in a European context that would 

also give the french influence on Ger- 
man monetarypolicy. 

Usually the Gomans run full tut 
away from the notion of nuclear in- 
volvement, citing the commitments 
their nation has given in several treaties 
never to engage in the manufacture or 
possession of or control over nuclear, 
biological or chemical weapons. 

This time Mr. Kohl moved an inch 
forward toward the French instead of 


inflation dub that the Bundesbank sees 
as the key to Europe’s stability- 
But old suspicions die hard m me 

economic arena, too. 


CUIUU1IUV Oiwia, • . .. , . .... 

Some French political leaders have 

■fed Gcnnan suspicions by arguing that 
. v ■ «b- o now eurrenCV 


defense policy.” The document was 
leaked to foe French press last week. 


leaked to foe French press last week. 

The French obviously would favor 
giving more political and military coo- 
tent to new institutions proposed by 
Maastricht. Those are foe areas of 
French strength. 

More than any other nation, France 
believes in and depends on foe trans- 
formation of Germany inrn a democratic 
coantry done with war. Still, possession 
of the world's third most powerful nu- 
clear arsenal and a will to use force in 
the national interest keep the French 
secure in dealing with their larger, more 
economically powerful neighbor. 

The joint strategic document restates 


shying away. He did foe same thing 
recently in ordering his military to join 


adorning foe euro as a new currency 
wilmfow France and its partners id 
pursue looser monetary policies. The 
Bundesbank has dug in its heels and 
insists on rigid adherence to tight 
money and Maastricht's economic per- 
formance standards, both before and 
after foe 1999 creation of the euro. 

French^German cooperation on build- 

• _ mtr iwIMm nnaifl® 


France in developing a costly European 
militar y reconnaissance satellite in- 
stead of baying a much cheaper, more 
powerful U.S. satellite off foe shelf. 

At the same time that the French, are 
pushing him on military and political 
matters. Mr. Kohl is coming under in- 
creasing pressure from German politi- 
cians ana bankers for ironclad guar- 
antees not to sacrifice the economic 
stability brought by foe mark, their 
proudest creation or foe century. 

Fix' a decade foe French have pegged 
foe franc's value and their interest rates 
to G erman fiscal decisions. French un- 


ing a new Europe pits politics against 
economics. The French see creation of 


exxxkxmps. The French see creation or 
the eurd, and of a new integrated Europe, 

as a political decision that will rise or fall 

on political will. Most Gormans still see 
economic criteria and forces as decisive, 
ft win be months before we know which 
view will prevail. . _ 

But we already know this: Keeping 
Germany and France involved in a pro- 
cess that reconciles and co nciliate s 
their differences is vital to European 
peace. The world has an enormous 
stake in Bonn and Paris getting the new 
equilibrium right. 

- The Washington Post. 


The Welfare State? An Economic Cornerstone, Not a Luxury 


P ARIS — The welfare state is the 
cornerstone of foe global economy. 


JT cornerstone of foe global economy. 
With rising competition and job inse- 
curity, workers will rely more on state 
resources for unemployment insurance, 
education and training in coming years. 
In the absence of these government 
policies and programs, political support 
fbrglobalizatiou would erode. 

Why don’t public officials seem to 
recognize this fact? Because their at- 
tention is focused on die demands of 
mobile capital rather than on those of 
immobile labor. 

Since capital’s main priority is tax 
cuts, the revenue base for foe very pro- 
grams that foe unemployed and un- 
educated require is being eroded. In re- 
cent years the tax buid^ has increasingly 
shifted onto labor’s shoulders. 


By Ethan B. Kapstem 


Recent signs of social disruption 
around the world should raise a red flag. 
When workers reach the breaking point, 
they may bring die global economy 
down with them. The very point of foie 
welfare state, as Franklin Roosevelt re- 
cognized, is to protect capital from its 
own self-destructive tendencies. 

In Washington, Bill Clinton 
signed legislation which effectively de- 
centralizes welfare policy. Important 
decisions will now be made in state' 
ca pitals rather than in Washington. 
America has thus abdicated its lead- 
ership on welfare-state issues. 

This is a historical aberration. After 
World Warll the United States led in foe 


creation of international institutions 
which effectively globalized foe welfare 
state. The International Monetary Fund 
and the World Bank were brought into 
existence, to buffer domestic societies 
from foe worst ravages of unbridled cap- 
italism, and the General Agreement on 
Tariffs and Trade included provisions to 
protect workers from unfair trade. 

These institutions were created at 
American insistence, because U.S. of- 
ficials had learned an important lesson 
from the Great Depression and World 
War H: that social disruption threatens 
peace and prosperity. 

If we are to bequeath social justice and 
an expanding international economy to 
our children, we musract to preserve the 
welfare state. That means not only en- 
suring that benefits for the unemployed 


and destitute will be maintained, it also' 
requires putting labor issues on foe 
world’s trade and financial agendas — 
something that ministers and central; 
hankers have avoided to date. . ,\ 

It could also mean multilateral action 
to minimize any further lowering of cor-; 
porate tax rates. • 

As a modest first step, however, ft 
would be appropriate for President Clin-; 
ton, as the free world’s leaderAo offer 
his thoughts about how to assisttfroseonl 
foe losing end of economic change - * 


The writer is Stassen pmfessofnfin-, 
temational peace at the University -of, 
Minnesota. These comments for tbeln^i 
temational Herald Tribune are baseaotf 
remarks prepared for the World EcoJ 
nomic Forum in Davos, Switzerland. 


The Tide Turns Against Irresponsible Worship of the Market 


P ARIS — The World Eco- 
nomic Forum in Davos. 


JT nomic Forum in Davos. 
Switzerland, which opens this 
Thursday, has established a 
place cm the international polit- 
ical as well as economic cal- 
endar, and provides a reliable 
indication of foe prevailing in- 
tellectual currents in internation- 
al business and government. 

Last year die meeting cel- 
ebrated business and trade glob- 
alization. This year its theme is 
foe anodyne “Building the Net- 
work Society” — appropriate 
to the saturnalia of business net- 
working which the event 
provides for its one thousand 
corporate members, but a dis- 
tinct retreat from capitalist tri- 


By William Pfaff 


Times have changed, and the 
forum with them. Its directors 
have this year established a pro- 
ject examining issues of human 
social responsibility, with Elie 
WieseL, foe theologian Hans 
Kung arid Cardinal Roger Etch- 
egaray, president of foe Vat- 
ican's Commission for Justice 
and Peace, among the political. 


legal and academic figures in- 
volved. Organized labor now 
has a major place in foe dia- 
logue, with John Sweeney, new 
head of the AEL-QO, as one of 
foe international labor leaders 
oq foe program. 

“Corporate citizenship” and 
die proper priorities of corpo- 
rate management will be de- 
bated, as will be foe question of 
whether a new moral contract 
needs to be articulated among 
employers, employees and' the 
communities in which corpo- 
rations function. 

There will be discussion of 
the trade-offs between econom- 
ic competitiveness and social 
cohesion (and social justice), 
and between price stability and 
unemployment. The negative 
consequences of technology 
will be considered, as well as 
the negatives of the U.S. eco- 
nomic model. 

All this reflects significant 
change in how the corporate 
elite perceives its role, and in 


how modem capitalism now is 
assessed internationally. 

The conventional wisdom of 
die industrial world mail re- 
cently unqualifiedly endorsed 
globalization and foe primacy 
of corporate over social interest 
in the international economy. 
The system’s apologists in- 
sisted that globalization would 
inevitably produce not only 
higher international living stan- 
dards but a more just society. 

Now there is much, doubt' 
about foe actual political and 
social results of globalization, as 
thus far experienced. The social 
effects in me advanced countries 
include much unenmtoyment, 
and poll deal and social unrest, in 
Europe; widening inequalities 
and econ omic 

of a part of the working pop- 
ulation in the United Stales; and 
most recently a violent reaction 
in South Korea to labor legis- 
lation intended to promote 
Korea’s globalization. 

It has become evident that 


foe argument that globalization Britain derived from Noncon- 
raises international living stem- ifbnnist Protestant ideas of so-' 


daids rests pn the assumption 
that foe international labor mar- 
ket is effectively finite, and 
hence that labor eventually will 
recover the ability to bargain 
from strength, whichis not true. 
For practical purposes foe ra- 


cial solidarity and justice, en- 
dorsed by “one-nation" or 
“Whig” Conservatives, insist- 
ing upon the obligations of foe' 
well-off to the poor. 

The policies produced by this 
thinking were not aU successful 


temational labor pool is-infipr-j and some produced their own 
ite. and the bargaining powef of forms of selfish exploitation. In 


A New Ballgame for Which Players? 


By Klaus Schwab and Claude Smadja 

This is the first of two articles. 


D AVOS, Switzerland — 
The industrial revolution 


-L/The industrial revolution 
led to the emergence of a new 
society at the end of the 1 9th 
century. Now economic glob- 
alization- and the informatioD- 
technologies revolution are cre- 
ating yet another type of society 
— the network society. 

By the new horizons it opens, 
this new type of society is a 
quantum leap from what we are 
used to. ft tests to the limit the 
ability of political and econom- 
ic leaders to manage repercus- 
sions of the changes. 

The emerging network soci- 
ety is not bound to be better or 
worse than the society we have 
known so far. Nobody can say 
at this stage if it will reduce or 
increase foe sense of alienation 
that so many people and com- 
munities feel today; if it will 
ease or exacerbate tensions be- 
tween national cultures and 
global interests. 

We feel more strongly by foe 
day the tremendous destabiliz- 
ing pressures that the process of 
economic globalization is cre- 
ating on the social fabrics of the 
industrialized as well as the in- 
dustrializing countries. 

For all the seemingly endless 
possibilities it opens, the onset 
of foe network society is not all 
excitement and wonderment It 
brings wrenching readjust- 
ments for whole categories of 
people. Governments are being 
thrown into disarray when it 
comes to coping with die dra- 
matic economic changes and 
their social implications. 

Most of the governments in 
industrialized countries face a 
credibility crisis today. They 


are struggling to keep lines of 
communication open with a 
public opinion more and more 
skeptical of their ability to meet 
challenges that the emergence 
of the network society creates. 

Basic assumptions — like the 
definition of work, of money 
transfer, of tax collection, of 
interactions in general — are 
changing. The inta n gi b le e-di- 
mensxon, the emergence of vir- 
tual communities, will lead to 
changes in much that we do, in 
the way we live. 

ft would certainly be ex- 
tremely dangerous to assume 
that the course of events will 
automatically mb*, care of these 
issues, and that those who feel 
alienated will remain passive, 
gracious losers in an economic 
and technological revolution 
that they could see as depriving 
them of a fixture. 

History never repeats itself in 
any mechanical way, but we 
need to think about the con- 
vulsions that foe onset, of the 
industrial society brought with 
it, to grasp the potential for 
destabilization that foe emer- 
gence of this new era brings. 

Of course, there are today a 
number of almost buflt-in safety 
nets at either the national level 
(the welfare state) or the in- 
ternational level (foe ability of 
financial markets to absorb 
shocks). But whatever shape 
the new society will assume 10 
or 20 years from now, some key 
issues already demand urgent 
attention. 

The ever increasing empha- - 
sis on knowledge-based value 
addition has two significant im- 
plications. One is that we are 


entering an era in which wage 
differentials for similar types of 
activities between one country 
and another will become totally 
unsustainable if they are not le- 
gitimized by an equivalent dif- 
ferential in added value. 

Expanding delocalization 
worldwide is acting as a great 
equalizer in that respect. This 
means that the downward pres- 
sures on wages inactivities wkh 
stagnating added value creation 
will increase substantially in 
the industrialized countries in 
the coating years, threatening 
more and more foe jobs and the 
salary levels of whole categor- 
ies of employees. 

The second implication is 
that without decisive policies in 
foe domain of education and 
training, foe gap between the 
knows and foe know-nots is 
bound to increase. 

If we are not very careful, 
there is a real danger that the 
network society will be much 
less fair, much less socially co- 
hesive, than what has existed in 
indus trialized countries in the 
latter part of tins ccntnry. 

The debate on how to promote 
knowledge generation, on foe 
edneatian and training policies 
required to ensure that individu- 
als are keeping up with tech- 
nological changes, will have to 
take center stage. 

Here the division of labor and 
responsibilities between gov- 
ernments and corporations is 
caudal, with all foe fiscal im- 
plications this may have: 


labor is foe lowest it has been in 
a century. The political implic- 
ations of this have only begun to 
be appreciated. 

However, more important is 
the widening perception of 
today's capitalism as a dehu : 
manuring force, whose domin- 
ating purpose is mere individual 
aggrandizement. This criticism 
has before been most often 
made by religious and philo- 
sophical critics of contempor- 
ary society, but today it is much 
more widely expressed. 

The most dramatic recent in- 
tervention has been that of foe 
financier George Soros — die 
man who has exploited the op- 
portunities offered by contem- 
porary financial markets more 
successfully than nearly anyone 
else, but who is too intelligent 
not to see that a purely ma- 
terialistic system of values is 
essentially totalitarian, de- 
structive of culture and foe val- 
ues of civilization. 

Western capitalism during 
and after the Great Depression 
teamed to respect the common 
good and civic values, and this 


expected of the corporation by 
communities and governments. 


Europe’s reconstruction after 
World Warn was earned out by 
an alliance of social democrats 


'But tunes are chan gin g and 
the marketplace now increas- 
ingly is judged with political as 
well as economic discrimina- 
tion and realism. This is evident 
in foe Davos program, and is foe 


wfrh social. Christians, produ- . most interesting and significant 
crag the welfare capitalism or aspect of this year’s meeting, 
rocial capitalism, of Western' International Herald Tribune. 
Europe. The welfare State in & Los Angeles Tones Syndicate. ' 


IN OUR PAGES; 100, 75 AND 50 YEARS AGO 


1897: Alaskan Limits 


WASHINGTON— Mr. Olney, 
foe Secretary of State, and Sir 
Julian Pauncefote. the British 
Ambassador to the United 
States, expect to conclude a 
convention for foe final settle- 
-ment of foe dispute between 
the United States and Great 
Britain as to foe'boundary be- 
tween Alaska and the British 
North American possessions. A 
joint commission of scientists 
will be provided to locate the 
boundary and set up suit- 
able monuments and marks. 


positions of men and women 1 
and declared that women can- 
not be expected to consider 
the facts 0 t a case in a perfect- 
ly unbiased fashion without 
any emotional influence. Thp 
well -known women’s lawyer 
Frau Margaret Berent quoted 
Halo, who advocated that 
women should take part in all 
the functions of foe State. 


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tune came the supposedly ] 
tough-minded reactions of anti- a • 
welfare, neoconservative and If 
libertarian thinkers and politi- 
cians during the 1980s. . } 

We are now at a point where 
the reaction has begun to run 
aground. ^ 

The most intelligent thinkers 
in the conservative and pro^ 
business camp now are prey 
pared to acknowledge the social, 
ravages produced by foe last 
two decades’ elevation of cor- 
porate and individual self-in- 
terest over consideration of 
common good The idea that 
self-interested behavior in the 
marketplace would automatic- 
ally advance the common in- 
terest now is recognized as na- 
ive ideology, or a self-inter-^ 
ested self-deception. 'jp m . 

More than fraud or sophistry 
is at issue, as Mr. Soros argues^ 
The natural tendency of thp 
market is toward income in- 
equality. It also tends toward 
the destruction of those values 
which do not produce commer- 
cial return. It is not unreason; 
able to speak of the totalitarian 


1.1 riKKS 


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1947: Out of China 


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w."-. 


1922: Women's Status 


Klaus Schwab is founder and 
president qf the World Econom- 
ic forum in Davos, and Claude 
Smadja is its managing direc- 
tor. They contributed this com- 
ment to the / ntemadonal -Her- 
ald Tribune. 


BERLIN — The extent to 
which women shall play an ac- 
tive part in medical jurispru- 
dence in Republican Ge rmany 
« widely dfoaissed here. Judge 
Stadelmann, of foe Potsdam 
Law Court, referred to the fun- . 
damental difference between 
the psychic and physical dis- 


PEUTNG — The impending 
dissolution of foe Peiping 
executive headquarters wipes 
the slate dean on foe abotr 
five year-old American medi- 
ation effort in China and fore- 
shadows a probable witb- 
• of most of the remain- 
ing U.S. Marines. The United 
States will also withdraw from 
a committee of foe Big Three , 
Jtfdch was established ih 
Cmm in February 1945 in an 
effort to end hostilities be^ 
tween foe two factions. 




«. • . *• - „ 

..... 

- v K - 



* 

* 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30, 1907 


PAGE 9 


<I.rr 


OPINION/LETTERS 


rflf 


fpebt Is an Illness, Amendment No Cure 


W ASHINGTON — In 
1916 the U.S. national 
debt could have been paid off 
t>y the nation’s richest man, 
[. John D. Rockefeller. This year 
j foe two richest Americans, 
William Gazes and Warren 
Buffett, working together 


By George F. Will 

tablishing sound public fi- 
nance was the first challenge 
of the new nation, which is 
why the Treasury Department 
had 40 employees when the 
State Department had but 


i t , , . e unu UHL 

Would go broke trying to pay. five. The sale of government 
tven two months interest — bonds to banks was crucial to 

approximately $50 billion 

[ on the national debt. 

[ ; Does that get your atten- 
| tion? It is from John Steele 
| Gordon's lively little book, 
f ^Hamilton's Blessing; The 
Extraordinary Life and Times 
bf Our National Debt.*’ This 
198-page primer appears just 
in rime for the be ' 
the great 


- r 

or the beginning of 
debate of this year. 


ignited commerce, 
which united foe regions. 

Not, of course, without foe 
Civil War. But it was won by 
foe men and materiel fin- 
anced by a42-fo!d increase in 
foe national debt between 
1860 and 1866. War, a wise 
mac once said, is tbe health of 
the state. It certainly has 


In the last 36 years, busi- 
ness fluctuations have been, 
on balance, remarkably mild 
and the Vietnam War was, 
relative to the size of the 
economy, a small burden. Yet 
foe national debt has in- 
creased 17 times more than in 
all of the nation's first 184 
years. La the past 15 years 
federal revenues have in- 
creased 25 percent (largely 
because of, not in spite of, foe 
Reagan tax cuts and reforms) 
and our principal foreign ad- 
versary has imploded, yet the 
debt has soared. 

Why? Here is a hint: In „ _ 

1985, die year foe deficit fi- son New York state used in 


bat he does cite “foe trans- 
formation of politics into a 
lifelong pr o fe ssi on” as part of 
the problem, along with foe 
proliferation of political action 
committees and a tax code full 
of voce-buying deductions and 
credits — a code that has been 
amended more than 4,000 
times, an average of more than 
an amendment a day, in the 10 
years since the Reagan sim- 
plification of the code. Mr. 
Gordon proposes campaign fi- 
nance reforms and a flat tax. 

He emphatically does not 
endorse foe “chimera” of a 
balanced budget amendment, 
which he considers an invi- 
tation to gimmickry of the 


i j ^ . ; , — ““ *«■ waumuy uij* i 70 j, me year me uencn u- son riew ions, stare usea m 

ana perhaps of the re main der fattened up the national debt, nally became a large political 1992 when $200 milli on was 

of rhi* ffomrio c n ; er- r . .. 


of foe decade. 

■ | The debate is about the pro- 
posed constitutional amend- 
ment to require a balanced 
jmdget — or, to be precise, to 
Require supermajorities of 60 
percent in both houses of Con- 
gress to authorize a deficit 
Mr. Gordon's subject is debt 
h subject for which few people 
have had anything nice to say 
since Alexander Hamilton 


which went from $1.2 billion 
in 1916 to $25.4 billion in 
1919, and from $48 billion in 
1941 to $269 billion in 1946. 

There have been, Mr. Gor- 
don notes, seven periods in 
which the debt steadily in- 
creased, six when it declined 
and three when it was stable. 
Six of the seven periods of 
increase involved either a ma- 
jor war or depression. It is the 


at 


£aid in 1781 that “a national ' seventh period, which began 
debt if it is not excessive, will in 1 960, that is ominously drf- 


be to us a national blessing.' * 
UVllTV V it has frequently been, 
and a blessing to the world, 
too, in two world wars. Ef- 


ferent and has driven the na- 
tion to the brink of consti- 
tutionalizing foe pay-as-you- 
go principle. 


tbe 

Gramm-Rudman 'law that 
was supposed to control it 
Congress also enacted 54 new 
benefit programs, bringing 
the total then to 1.013. 

Why are there now debt 
service costs of more than 
$1,000 per American per 
year? Because, Mr. Gordon 
writes, debt has served “foe 
political self-interests of a 
few thousand people’ ’ — fed- 
eral elected officials in these 
36 years. 

Mr. Gordon does not ex- 
plicitly endorse term limi ts as 
pert of his recipe of reforms 



LETTERS TO THE EDITOR 


j^ATO Expansion 


Regarding "Let's Be Serious: There's No 
Good Reason to Enlarge NATO” ( Opinion , 
fan. IS) by Mikhail Gorbachev : 

There are very good reasons to enlarge the 
North Atlantic Treaty Organization. First, it is 
a step that tbe people of Central Europe wish 
to take. They may desire closer ties with the 
West, or even protection from a power that 
tries to veto their foreign policy decisions. 
This is called democracy. 

Second, we -must prevent the nationali- 
zation of Central Europe’s defense policies 
dnd the creation of intraregional alliances, 
which characterized the 1930s with unfor- 
tunate consequences. 

Third, NATO’s expansion eastwar d is vit al 
to the interests of its most important European 
member, Germany. 

'Aput, of course, the people's will and other 
considerations sometimes must be overriden 
By strategic concerns. And Mikhail 
Gorbachev may be totally right when he says 
we cannot enlarge NATO because this could 
■ ‘compromise foe future of democracy in 
Russia.” We must give thought to the “ex- 
ceedingly delicate transitional phase” that 
Russia is experiencing. We cannot afford to 
give fodder to Moscow’s anii-Westerners that 
might drive Russia to “countermeasures that 
could reverse the course of European de- 
tente.* * This could endanger Russia’s stability 
and its integration with tbe West, threatening 
us all. 

Yes, there are many excellent reasons to 
enlarge NATO. But Mr. Gorbachev tells us 
we may have to forfeit them all to avoid 
turmoil in Moscow and to sustain “overall 
military security.” . 

How then ran he claim that Russia does not 
pose a threat to anyone? 

MAURJZJO aUULANO. 

Cambridge. England. 

Regarding “Europe Isn't Russia and 
Shouldn't Be Bullied" (Opinion, Dec. 31) by 
S Wphen S. Roscrtfeld: 

: Mr. Rosenfeld is correct in saying that the 
Issue of NATO’s enlargement “is J ® 1 cm<:>_ 
tionally and culturally insistent one.” 

What he overlooks, however, is that there is 

no simple line between Europe and Russia but 

that for 1.000 years there existed in Central 
Europe a major power represented by the 
Austro-Hungarian empire- and its prede- 
;essors. That power was destroyed at the end 
rf World War I and left a vacuum that was 
filled in turn by Nazi Germany and Soviet 
Russia. What Mr. Rosenfeld is suggesting, in 
effect, is that this vacuum now be filled by 
, V ATO and die European Union, 

' This idea, if implemented, would fafljusl as 
he two previous attempts failed. Central 
Europe is and will remain a distinct entity. 
Budapest may be more “Western” than Mos- 
cow, but a typical Hungarian, Ro m a n ia n or 
folish village has more in common with a 
Jkwinian or Russian village than a French or 
snglishone. 

‘ It is also naive to think that in the real wond, 
4ATO — i.e, the United States — would 
Intend, say, the Czech Republic any more 
fum the British, . or' French defended 
Czechoslovakia m..l938, regardless of treaty 
■bligations. 


What is needed now is a total rethinking of 
Europe in light of the 
tunity presented by the defeat 
many and the Soviet Union. A mere takeover 
by NATO and the EU just won’t do. It is 
bound to provoke a Russian reaction once that 
country has recovered its stability. 

We have a historic opportunity to go back 
to deep roots and rebuild Europe’s political 
and economic structure consistent with Euro- 
pean heritage and the international realities of 
today. 

Our political leaders may be too steeped in 
the Cold War to articulate a new vision. But 
while we wait for a new Jean Monnet to 
appear, members of the “civil society' ’ — the 
universities, tbe media, religious groups — 
could begin to lay the foundations through a 
broad exchange of ideas. 

WQDLOVESEL. 

Divonoe, France. 

The division of Europe has ancient historic 
roots and is due in large part to the failure of 
most Eastern European countries, like Russia, 
m absorb the benefits of the Renaissance and 
foe Enligh tenment, except in superficial ways. 

To bring the shaky democracies of Eastern 
Europe into NATO now would have assured 
benefits — but only for defense contractors. 
Let’s take a look at this situation in a few years, 
when Russia and its neighbors may have be- 
come more rooted in democratic Europe. 

ROBERT RILLING. 

Porto, Portugal. 

European Facts of Life 

Regarding “ Europe Has 17 Months to Get 
Serious on Bosmar ( Opinion, Jan. 25) by 
William Pfaff: 

A more appropriate headline would have 
been: “America Has 17 Months to Get Se- 
rious on Europe.” For it is one thing to say 
that as of June 1998, Bosnia becomes 
Europe’s problem (again). It is quite another 
to answer foe question: Which Europe? 

Much as one sympathizes with an ally that 
is time and again requested to mill the chest- 
nuts from the fire by friends who cannot get 
their act together, the fact of the matter is it is 
highly unlikely that Europeans will have ac- 
complished this feat by mid-1998. 

May this European therefore in all humil- 
ity express foe hope that, for the benefit of 
«n Americans and Europeans, m embe rs of 
the U.S. administration m the future base 
their decisions on rather more realistic 
assumptions. 

J. H. MEESMAN. 

Lopik, Netherlands. 

A Visit to China 

Regarding “Shuttling Congresspersons to 
Remedial Classes in ChincT (Opinion. Jan. 
24) by Tom Plate: . . . 

How many of foe congresspeople visited a 
Chinese prison or re-edneation establishment, 
and how many watched people bemg tortured 
or even executed? The legislators thinking 
was no doubt profoundly changed, but st is 
hardly likely that their view was particularly 

balanced. NORMAN SANDERS. 

Ipswich, England. . 


needed to meet the constitu- 

balano^oi^of currait^m^ 
come. Were taxes raised or 
spending cut? Not exactly. 

Instead, the stale sola At- 
tica Prison to itself. A state 
agency established to fund 
urban redevelopment bor- 
rowed in foe bond market, 
gave tbe money to the state 
and took title to the prison. 

The state recorded as in- 
come the $200 million its own 
agency had borrowed, de- 
clared- the budget balanced, 
then rented the prison from the 
agency for a sum sufficient to 
service the $200 million debt. 

Imagine the potential for 
fiscal prestidigitation at the 
federal level. Alas, one moral 
of Mr. Gordon’s highly en- 
tertaining and informative 
story is this: The very habits 
of governance that make a 
balanced budget amendment 
temp tin g make such an 
amendment problematic. 

Washington Post Writers Group. 


The Conflicting Basics of Army Life 


W ASHINGTON — Ten years ago, 
when I tried on my U.S. Army 
Class A uniform for the first time, I bad 
a lot of help from my drill sergeant. Not 
convinced it fit properly, he inserted 
his hand in my pants and slowly began 
to move his hand back and forth to 
demonstrate the point. His eyes not 
meeting mine, and his hand lingering, 
he asked: “Bennett, when are you 
going to do something with your 
hair?” When his eyes finally rolled 
up to meet my nervous stare, he smiled 
in amusement. 

I was 17, a private just a few weeks 
into my enlistment, and distinctly un 

MEANWHILE 

comfortable. But by the time I gradu- 
ated from basic training, that incident 
was less vivid in my mind than others 
involving my drill sergeant: his con- 
cern when I lost my appetite; his cheer- 
ing when I earned my sharpshooter 
badge. 

All of which is a way of saying that- 
the army I’ve read about in recent news 
coverage of sexual harassment and 
rape in the military is both familiar and 
foreign to me. Yes. my experience was 
fraught with imperfection, but foe 
story doesn't end there. 

Despite the difficulties, awkward 
moments and occasional misuses of 
power by superiors, I look back on my 
enlistment with pride and — strange as 
it may sound — on my sometime tor- 
mentors with appreciation. While at 
times they embarrassed me with in- 
appropriate gestures, their faith in rpe 
as a soldier and as a person never 
wavered, a fact they made clear through 
word and deed. And so my feelings 
toward them are as complicated, and 
conflicted, as were their actions. 

During basic training at Fort Jackson, 
in South Carolina. I shared foe barracks 
with a platoon of young women. Our 


By Alysia Bennett 

education began with foe discipline of 
quiet submission. We learned how to 
say “yes, drill sergeant” and “no, drill 
sergeant” and to avert our eyes from 
the ms. We low-crawled in sawdust pits 
and did sit-ups in die mud. We beat our 
bodies into subjection. 

“It’s mind over matter, privates,” 
my drill sergeants quipped. “If you 
don't mind, it don't matter.” 

That became my mantra. 

Barely out of my prom dress, I had 
become one of America’s finest, toss- 
ing hand grena d es, setting up land 
mmes and firing my M-16. I was 
tougher and stronger than I ever 
imagined I could be, and I owed that 
to the army. 

But while I was tough enough to kill 
for my country. I was not so tough that 
I would ever offend or disobey. That 
mentality makes for a great soldier, but 
it also permits a lot of misconduct. 

For tbe most part, though, what 1 
remember about the drill sergeant who 
put his hand in my pants is his en- 
couragement to stand tall, even when I 
didn’t believe I could. He was foe first, 
but not the last, of his kind that I would 
submit to during my army careen men 
of authority who could be both de- 
grading and supportive. 

In September 1991. my unit was 
deployed to the Gulf for Operation 
Desert Shield and eventually Desert 
Storm. I was the only woman in my 
squad and one of only a few at camp- 
sites when we went out on maneuvers. 
I spent more than eight months in the 
desert, often in the isolated company of 
male soldiers, including my platoon 
sergeant, who had a knack for sexual 
innuendo. If ever the opportunity for 
harassment and abuse of power ex- 
isted. it was then. 

Instead, they all looked out for me. 


Tbe only enemy I knew was faceless 
and somewhere outside our perimeter. 

I was determined not to play the 
helpless woman during foe Gulf crisis, 
so I made every effort to be self-suf- 
ficient. I was successful until old neck 
and back injuries resurfaced. Simple 
tasks like filling sandbags or carrying 
water to the shower area were suddenly 
difficult. Once, I was struggling to 
cany a five-gall cm container of water 
to the shower. Throbbing pain forced 

My drill sergeant put 
his hand in my pants. 

But his faith in me as a 
soldier and as a person 
never wavered. 

me to stop every few feet. Seeing the 
problem, my platoon seTgeant tried to 
step in and help. 

“I can do it myself,” 1 said, as I 
staggered on. Finally, he insisted on 
carrying it. When we arrived, he waited 
in tine with me, then climbed to the top 
of foe stall and filled foe outdoor con- 
tainer with water. He climbed down 
and left without his usual unsavory 
monologue. 

My days in foe Gulf were filled with 
incidents like that. So was ray entire 
enlistment. Often these acts of kind- 
ness came from foe same men who hod 
grossly failed to exercise judgment on 
previous occasions. 1 don't make ex- 
cuses for them. They don’t deserve 
any. But, in a world that leaves room 
only for heroes and demons, so much 
of foe story is left untold 


The writer, a news aide at The Wash- 
ington Post, served in the U.S. Army 
from 1987 to 1991 .She contributed this 
comment to The Post. 


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PAGE 10 


INTERNATIONAL HERALD 


TRIBUNE, T HPBSDAX, JANPABY 30,lMjlij; 


HEALTH /SCIENCE 


Latex Allergy Grows 
In the Age of AIDS 


Reaction to Gloves Can Be Fatal 


By Jim Robbins 

Nm York 71mm Same 


caused by latex or by the chemicals in 
the gloves. 


H ELENA, Montana — She 
was merely present in a hos- 
pital emergency room where 
a nurse was wearing latex 
gloves. But for Debbie Anderson, 37, 
the encounter was almost fatal. Later 
that night, a latex allergy sent her into 
anaphylactic shock and die nearly died. 
Her brain was deprived of oxygen for so 
tong that she went into a coma, and, 
now, more than two years later, die 
remains seriously brain damaged. 

Ms. Anderson’ s e xtre m e sensitivity 
to latex is not an isolated occurrence, 
but, according to experts, part of a grow- 
ing problem. 

when the full scope of AIDS became 
known in the 1980s, many different 


A recent epidemiologic study of the 
v Dr. Margaret Fay. a re- 


segment s of society — fast-food work- 
ers, toll takers, polic 


ice officers and es- 
rially health rare workers — donned 
gloves, and allergic sensitivity to 
the subdance jumped. 

"It is very widespread," said Dr. 
Mohamed Yassin, an allergist in Sl 
C loud, Minnesota, who specializes in 
latex allergies. It has become one of the 
biggest worries for health care workers 
since the danger of contracting AIDS 
from blood contamination became 
known. Dr. Yassin said. 

There are different types of allergic 
reactions; latex causes those called 
Type I and Type IV, but not others. Type 
L the most severe, can lead to ana- 
phylactic shock and death, identical to 
the reaction some people have to bee 
stings or shellfish. Type IV is a skin rash 


problem by 
searcher with London International, a 
British company that makes latex 
products, shows that since 1980 the 
number of people in the general pop- 
ulation with both types of latex allergies 
has grown to 8 percent from 1 percent, 
while the number of dental workers has 
increased to 40 percent from 7 percent, 
and the number of other health care 
workers has risen to 20 percent from 3 
percent. Spina bifida patients have 
suffered the greatest increase, to 72per- 
oent last year from 18 percent in 1980. 

Dr. Fay cautions that data are hard to 
come by and that “most of the numbers 
we have are a best-guess scenario.” 

Initially, the latex protein gets into the 
body along several pathways, which 
creates the allergy. The single biggest 
souree, experts say, is the powdered 
cornstarch cm latex gloves, which 
makes them easier to slip on. 

The latex protein in the glove that 
causes die allergy combines with the 
powder during the manufacturing pro- 
cess. When the dust becomes airborne, 
it may be breathed into the lungs. The 
problem is worsened by numerous 
glove changes daring a work day. 

Another way the allergy is created is 
through the contact erf 1 powdered latex 
gloves with mucous membranes, espe- 
cially during multiple operations, bat 
sometimes during multiple gynecologic- 
al exams or dental procedures. Ms. An- 
derson had undergone fotuoperationsfar 
ulcerative colitis before her reaction. 






Humim Tests to Begin Shortly 


“By WarrenE. Leary 

• New YbrkTimej Service 


ASHJNGTON —A newly 
developed pill has been 
aMe to prevent or core in- 
fluenza infections in tests 
say,. 


In a paper appearing in the Jsn. 2? 
issue otThe Journal of the^Araer^i 
Chemical Society. the Gdeadre*^- 
• era and 


M t# te Lo 

tivenriry of r * * 


California at Betkeley ^ cnbe I ,*|jP 


The reaction to latex may be wors- 
ened when someone eats a b anana or 
other fruit that has a protein similar to 
latex and is then exposed to latex around 
the same time. 

"Debbie Anderson ate a banana be- 
fore she went to bed," Dr. Yassin said. 
“That was the straw that broke the 
earners back." Papayas, avocados and 
nuts can cause similar problems. 


posed that products containing natural 
robber latex be labeled with a warning 


that the product “may cause allergic 
fractions.'' Some activists fed the j 


posed language is not strong 
At present, experts sot, people must 
learn to live whha latex allergy, for there 
is no way to desensitize a sufferer. 
Many health care workers become so 


T HE Food and Drug Admin- 
istration recognized the prob- 
lem of latex allergies as long 
ago as 1991, when 16 peoples 
undergoing surgery for spina bifida died 
after the use of a latex-cuffed enema tip. 
But the warning about other types of 
latex sensitivity went largely unheeded, 
and only now are the changes showing 
up in tiie way health providers do busi- 
ness. 

Last fall Food and Drug officials pro- 


sensitized they can no longer work in 
iical field. Others have disab- 


the medical 
ilities that reach into their personal 
lives. 

Choc such person is Dr. Use BoreL 
who retired from her practice in 1994 
after 10 years as a dentist in 
Westchester, Pennsylvania, and now 
only leaves her home occasionally. 

Describing bow weakened she -had 
become from latex-induced asthma, she 
said: "I used replay three sets of tennis 
without breaking a sweat. Now I need 
oxygen to go to the grocery store.'* 


winch kteaferes with tire reproduction 
of ibbffatisaai wffl be ready to test in 
people in /severe^- inonfo s. u the (hug 
proves -safe ande^fectiyc, they said, it 
may be possible in a -few years for. 
people forward .off flu each winter by 
takingap^<»tv{oeac*dayortocatfln- 
infections shorty 

A similar anti-flu drug licensed by 
Glaxo We&come. based m London, is 
already being tested on people, but that 
drug must be inhaled instead of being 
taken in pfll form. 

Dr: Chocmg Kim and Dr. Norbert 
Bischofbereer, researchers with Gilead 
Sciences ofFoster City, California, .said_ 
at a news conference that their com- 
pound, caBed GS4104, had been tested 
on five animal species and appeared, to 
block infections by all major flu strains 
while prodrcxog no adverse effects. 

"It’s a big leap to jump from animals 
to humans, but we have every indication 
it will work in the same way,'* Dr. 
Bischafbetger said. 

- The company has petitioned the Food 
and Dreg Administration for permis- 
sion to begin limited human trials to 
address drug dosage and safety issues. 
Those trials would be run before more 
extensive tests to see if the compound 
staves off fin in healthy volunteers. 


they aevciupeu aaai® Z Irtf 

inhibit the activity of neununiradase. an n[|,i 

enzyme on the sra^j^ of tbe flu vu ^ s< 

Dr. Kim said that , the flu virus m- f j 
fected cells in itshost* reproduced inside ■» . 

these rails, then broke out to spread the 
infection to other cells. Neuraminidase iiv 
oa rafl membranes lets tire virus escape, 

he said, so inhibiting the enzyme blocks 
tire virus and checks the infection. . 

GS- 4104 is not the first neuranun- ' 
i dase inhibitor developed to anack flu, _. * ■ 
researchers said, .bat it is the first that ■.«■■ 


V 


f i** 

.... pM*. 

fad d 

, -ji urn**!- 


IM& n i v w » j — — — . .. 

can be taken orally. The drug primarily 
- ' * * lgs, the primary 


works on cells in tire lungs, 

infection site for tire flu virus. 

“This is a very promising approach, 
and its effectiveness has been proven m 
aniina i models at low doses and with 
few- adverse effects." said Dr. Domin- 
ick Iacurio, an expert oh influenza and 
other viral diseases with the National 


■l v- 


instiQite of Allergy and Infectious Dis-A 
eases. “But developing drugs against I 


. iie. | 

lttMhh 

Mil* 

. i 

.--•.i44hiA 

.■.irrmtjt* 

- ; hV 


cases. — r—p ^ ^ . 

flu is a long, tortuous road because the 
virus mutates so easily. 7c remains to be 
seed if tire animal results can be trans- 
lated into humans.” 

Dr. Bischofberger said that GS 4104 
had been shown to deliver useful levels 
of the drug whoa given orally- Tests 
withrats and dogs with tire equivalent of 
10 times die expected human dose 
showed no adverse side effects, he 
said. 


:Je- vain- 

T 'irj' 


: V *i«pd 


Rock-a-Bye Baby, Baby, Baby: Multiple Births Are on the Rise 


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By Marlene Cimons 

Los Angeles Times 


jumped to 4^94 in 1994, up from 1,005 
such births 20 years earlier, ; 


W ASHINGTON — The 
dumber of women giving 
birth to three or more ba- 
bies at one time has quad- 
rupled during the last two decades, prob- 
ably because of the increasing use of 
fertility drugs and delayed child-bear- 
ing, according to U.S. health officials. 

The number of births involving 
triplets, quadruplets and quintuplets 


, according to 
a report released by tire National Center 
for Health Statistics, part of the Centers 
for Disease Control and Prevention. 

The agency called tire rise remarkable 
and noted that tire increases were most 
pronounced among white, married, col- 
lege-educated women 30 or older. 

About one-third of the increase was 
attributable to the older age of women 
when their children were bom, a factor 
dial increase* the chances of a woman 


producing two or more eggs at a tune. 

Tbe remaining two-thirds was be- 
cause of tire growing use of ovulation- 
enhancing drugs and fertility tech- 
niques, like in vitro fertilization, that are 
“more commonly used by older white 
women of higher socioeconomic 
status.'’ the report said. 

Infants bom in such multiple births 
often arrive early, are of low birth- 
weight and cany greater health risks 
than singlebirths, although their chances 
of survival have improved substan- 


tially in recent years, tbe study said. 

The findings were based on examin- 
ing all birth certificates registered in all 
50 states and the District of Columbia. 

The report did not .examine the 
psychosocial effect of tire births on the 
lives of parents, especially those who 
were first-time, older mothers, but ex- 


perts said that this could be daunting. 
“These often are women who think 


they are in control of their lives by tbe 
time they are ready to have a baby bat 
didn’t plan to have two or three — and 


with possible health consequences," 
said Victoria Jennings, an anthropolo- 
gist who heads tire Institute fire Re- 
productive Health at Georgetown Uni- 
versity in Washington. After a multiple 
birth, fife “is considerably mote dif- 
ficult,” she said. “The roles of addition 
and multiplication do hoc apply here. 
You’re talking geometry.” 

During the last decade, increases In 
multiple births in the , United States av- 
eraged 11 p e rcent annually. Of ti re 
4,594 multiple births in 1994, ,4*233 


produced triplets. 315 produced qti 
ruplets, and in 46 births tire mother had 
five or more babies. 

The multiple birth ratio ; — the number 
of live births per 100,000 total live births 
— rose 214 percent between 1980 and 
1994. The rise in the ratio among white 
mothers' ware 252 percent, compared 
■ with52 percent for black mothers. White 

mothers accounted fire 87 percent of all 
multiple births. In comparison, the rate 
of baths of twins rose only 30 percent 
during this period, tire report said. 






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ROOKS 


•l,V 


DIXIE RISING: 

How the South is Shaping 
American Values, Politics, and 
Culture 

By Peter Applebome. 3S5 pages. $25. 
Tunes Books. 

ENGINEERING ATLANTA: 

The Politics of Place in the Gty 
of Dreams 

By Charles Rutheiser. Verso. 324 pages. 
560; paperback, $ 19. 

Reviewed by Edward L. Ayers 

T HESE two books tell apparently 
contradictory stories. One tells of the 
'erasure of Southern culture by concrete, 
glass and steel while the other tells of tire 
-ascendancy of Southern music, politics 
and values. One book is about the “iroa- 
gjneering” of a bland and phony cor- 
porate landscape while the other is about 
■the “rising” of the South. One is dark 
•and pessimistic, the other rather hope- 


ful. 


The sad story is certainly true. Any- 
one who has stayed in Atlanta's con- 
vention-maximized downtown cannot 
but be struck by the deserted streets and 
fortress-like hotels. Charles Rutheiser, 
who lives in Atlanta, chronicles die pro- 
cess by which that city has been shaped 
by boosters, businessmen ami their al- 
lies in the decades since the Civil War, 
and be does so with admirable research 
and suiting bitterness. He dwells on the 
damage to tire poor, the hypocrisy with 
which progress has been promoted, the 
emptiness it has created. 

Rutheiser, seeing the 1996 Olympics 
as the culmination of Atlanta’s fabric- 
ated image, relates the background of 
that spectacle in great detail. With the 
Olympic preparations concluding as his 
book went to press, he worried that the 
transportation system, public services, 
and housing market would collapse un- 
der the weight of so many visitors. But, 


as it turned out, the Olympics vindicated 
Atlanta's boosters — at least in their 
own eyes. Though the city bulged and 
strained, Atlanta processed more people 
than any other city that has hosted the 
Olympics. Tbe pneumatic buildings, in- 
stant trees, paved parks and carefully 
controlled television feed played to At- 
lanta's strengths. 

But, as Rutheiser predicted, there was 
not much Atlanta in tire Atlanta 
Olympics and almost no South at all. 
Anyone watching on television gained 
Utde sense of what tire city, its state or its 
region might be like; those wbo visited 
Learned lime more about the place. 

The Olympics testified to tire truth of 
Charles Rutheiser’ s vision of a con- 
temporary South torn from its found- 
ations. Rutheiser works so hard ai de- 
bunking, however, that he leaves out 
almost everything else. There are not 
many more people in this book than 
there are on Atlanta's streets after 6 
PM. Neither are there many surprises. 
To tell Atlantans that their city has been 
built of manufactured images is like 
telling Washingtonians that tire gov- 
ernment is a major employer. 

Peter Applebome, a New York Times 
reporter based in Atlanta since 1976, 
takes us on a tour of the South far 
beyond the borders of that city's sub- 
urbs. The South, it turns out, is not 
disappearing, nor is it merely enduring. 

Applebome delights in statistics that 
show the population of tbe former Con- 
federate states growing ax twice the na- 
tional rate between 1970 and 1990 and 
the region now accounting for a third of 
the country's population. He emphas- 
izes that many of the migrants to tbe 
South are block people, returning to tbe 
region their parents or grandparents had 
fled. He points out that over half of 
America's new jobs now appear in the 
South, that tourism is booming business, 
and that country music is now the most 
popular music in the nation. He reminds 
us that tiie Southern Baptist Convention 
is the largest Pro te stant denomination in 


the United States and that both bouses of 
Congress and the presidency are con- 
trolled by men from Mississippi, Geor- 
gia, Arkansas and Tennessee. Id all 
these ways, Dixie is rising. 

Applebome, though, is too good a 
reporter to stop there. He pushes into the 
most forlorn corners of the South. 
People stare at Applebome from cinder 
block houses; they glance up from their 
work as they gut catfish by the thou- 
sands; they glare at him from ravaged 
storefronts. He gambles at the vacuous 


Yet Another Heart Ris 


■? *t 



f 


IRNATIOVUULI 


By Jane E. Brody 

New fork Times Service 



EW YORK — Just when it 
may have seemed that all the 
important risk factors for 
heart disease had been idea- 


casinos of the Mississippi Delta and 
i bars of Nasi 


tified, researchers are puzzling over 
what appears to be another one; a blood 
protein that, in some people at least, may experience a heart attack or the chest 
indicate that their chances of sufferings ’ A ‘ 


tween Lp(a) and heart disease may help 
to explain why heart attacks occur in 
some people who have otherwise low 
cholesterol levels and wbo have no other 
major coronary risk factors. 

In the newest study, conducted among 
nearly 600 women 65 or younger in 
Sweden, those with the highest levels of 
Lp(a) were nearly three times a& likely to 


were 


of 15 


hangs out at the bars > 


of the past lying dc 
life. It is 


Jashville. 
s, be sees evidence 
lose to the surface of 
Southern life. It is not that his South- 
erners live in the past, but that they have 
little choice but to live with tbe past, 
whether they acknowledge it or not 
As both of these books show. Southern 
identity these days is largely p&yed out in 
culture, its contradictions on full 


y . Country music, sometimes pro- 
in: Chris- 


found, is often silly and maudlin; 
tian belief and piety have often been 
reduced to shallow releyangelism; tbe 
Civfl War has become kitsch. Even die 
most valuable Southern virtues — civility 
and generosity — have been cheapened 
by television and movie portrayals of 
yokels who are land wily because they 
are too stupid to be otherwise. 

Once these images have entered into 
mass culture it is almost impossible to get 
than back. Southerners, black and white, 
struggle against these deadening stereo- 
types just as they struggle against poverty 
ana against one another. They find it hard 
to explain that the South is more than it 
appears on the evening news. South- 
erners of all descriptions should be grate- 
fill to Peter Applebome, one mere Yan- 
kee transplant, for writing one of the best 

portrayals of the South in years. 


heart attack are two or three times the 
normal rate. The protein appears to 
mark a particular rid: for white men and 
women under 65. 

The substance, lipoprotein(a), or 
Lp(a), is a form of low-density lipo- 
protein, the so-called bad cholesterol, 
that can be deposited on artery walls and 
eventually cause heart disease. Bur the 
exact role of Lp<a) in the development 
of heart disease is still unclear, and it is 
not yet certain for which people it might 
be a risk factor. 

It is also not known what can or should 
be done to reduce elevated blood levels 
of Lp(a). However, tbe association be- 


as those with the lowest 
. The study, published in the cur- 
rent issue of Circulation, a journal of the 
American Heart Association, found an 
increased coronary risk associated with 
Ugh Mood levels of Lp(a) in women 
boto before and after menopause. 

In a study published in August in The 
Journal of the American Medical As- 
sociation, Dr. Andrew Bostom of Tufts- 
New England Medical Center in Boson 
and his colleagues Jinked elevated 141 (a) 
levels to an increased rifle of heart disease 
in men raider age 55. In that study, mare 

mgham Heat dm^v^rae Lp(a) levels 
had been measured in the early 1970s 


followed far an average 

years. 

Unlike well-established coronary 
factors like blood pressure, cigarette 
smoking and cholesterol, 141 (a) is not 
simple to measure. Il comes in various 
shapes and sizes, with a highly variable 
number of repeating chemical sequences 
that can skew test results, said Dr. Helen 
Hobbs, an Lp(a) expert at the University 
of Texas Southwestern Medical Center 
inDallas.. 

Lp(a) levels are nearly entirely de- 
termined by a person’s genes. Diet, ex- 
ercise and other habits appear to have po 
influence on Lp(a) levels in blood. About 
tbe only way known to reduce Lp(a) 
levels is with niachu or nicotinic acid, an 
established cholesterol-lowering agent 
that canhave unpleasant side effects, but 
even that does not work in all people. 

. . How important might Lp(a) be m ~ 
grand scheme of things? Dr. Bostom 
pointed out that smoking is a far greater 
risk factor, accounting for 55 percent of 
the cases of premature heart disease in the 
men in the Framingham study. - 


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be published in March. He wrote this for 
The Washington Post. 


BRIDGE 


By Alan Truscott 


I TALY, which dominated 
the world bridge scene 
from 1957 to 1975, is againa 
to be reckoned wife. 


power to 
Lorenzo Lauria and Alfredo 


Versace. European Team 
Champions in 1995, zoomed 
to a convincing victory in the 
Macallan International Pairs 
Championship in London. 
The event was a Simple Sys- 
tem contest, with complex 
methods barred. 

The final standings were: 
Lauria and Versace, 620 vic- 
tory points; Jens Auken and 
Lars Blakset of Denmark, 
548; Bob Hamman and Bob 
Wolff of the United States, 
532; Tony Forrester and Andy 


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deal when they bid and made 
a marginal slam. The double 
of one spade was negative, 
and the heart fit was located. 
A series of cue-bids carried 
the partnership to six hearts. 


that South might have sur- 


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dummy with a chib lead, 
tlayed a spade and scored his 
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BUSINESS/FINANCE 


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THURSDAY, JANUARY 30, 1997 


PAGE 11 


'"■nl. 


Ford Profit 
Surges 82% 
^Despite Loss 
Outside U.S. 


frv Ota Sag From Dupiaciif, 

DEARBORN. Michigan — Foni 
-Motor Co. said Wednesday its profit 
rose 82 percent in the fourth quarter, 
-beating most analysts' estimates, but it 
•‘said mounting losses overseas limits 
J*the year’s profit rise to 7 percent 

- The second -biggest U.S. automaker 
■Said it was on track toward increasing 
profit in 1997, particularly in the Euro- 
pean market, because of new products. 

’’ “We’re starting 1997 in a much 
-stronger competitive position.’ ' Ford’s 
chief executive officer, Alex Trotman, 
-said. “We have a tough business plan in 
place. We expect automotive earnings 

improve in 1997, driven by a strong 
“product lineup and companywide ef- 
forts to tower costs.” 

- Mr. Trotmari said the company 
-aimed to continue to increase the earn- 
ings of its financial-services group, call- 
ing the unit "one of our undervalued 
’strengths.” 

After a charge and credit in the latest 
• quarter. Ford said its net income was 
'‘SI .2 billion, or 99 cents a share. In the 
year-earlier quarter, net income was 
$660 million, or 48 cents a share. Rev- 
enue rose 1X5 percent, to $38.8 billion. 

The latest results were reduced by a 
charge of $336 million for the costs of 
an early retirement program offered to 
salaried employees. 

For all of 1996. Ford earned $4.45 
billion, up 7.4 percent from 1995. 
jl Ford was the last of the Big Three 
'automakers to report 1996 results. In- 
: dustry leader General Motors Carp, said 
its profit for the year fell 28 percent but 
‘the No. 3 company. Chrysler Corp.. 
posted its second-best year ever. 

Internationally. Ford stumbled last 
‘year, posting a loss of $352 million 
-compared with a $21 3 mill ion profit in 
1995. Losses were greatest in Europe 
and South America. 

- In Europe, the company is struggling 

- with excess capacity, tough competition 
-and a product line that favors low-profit 
.cars, analysts said. 

Ford closed down 12.5 cents at 
$32-375. (AP. Bloomberg. AFX) 


Guar anteed, but Not Always Competitive, Returns 



15% 


10 


3-MONTH TREASURY BILLS 

Average annual real rate of 
_ return forbBls over 10 years _ 
anting each year 


10-YEAR 

INFLATION BONDS 

Expected real yield 


— i — i — i — n — i i i i i i i i i i i — nr 

’80 ’82 ’84 *86 ’88 ’90 *92 ’94 ’96 
Sources: Standard A Foots; Ryan Labs 



'87 ’88 ’89 ’90 *91 *92 *93 ’94 *95 *96 


’89 *90 *91 *92 *93 ’94 *95 ’96 

The New York Timm 


U.S. Sells Inflation-Protected Bonds 


By Floyd Norris 

New York Times Service 


NEW YORK — The government 
that helped bring America rampant 
inflation 15 years ago, and that since 
then seems to have brought it under 
control, has a deal for you: It offered 
bonds Wednesday that provide pro- 
tection against a general rise in prices. 
Buyers of die bonds will prosper if 
inflation returns, but not if it remains 
quiescent. 

The Treasury will auction $7 billion 
in 10-year inflation-indexed bonds, 
creating what could eventually be- 
come a staple in the investment port- 
folios of millions of Americans. The 
bonds are likely to pay an interest rale 


of slightly above 3.5 percent. That 
may sound low compared with the 
6.64 rate available on normal 10-year 
Treasury bonds, but it may prove to be 
quite good, because it is a “real” 
yield. 

Inflati on can eat away at the returns 
on normal Treasury bonds, but buyers 
who hold the Dew bonds until maturity 
will be guaranteed that roughly 3.5 
percept return, above and beyond any 
inflation from now until 2007. 

Just bow good such an investment 
turns out to be depends on how vig- 
orous inflati on becomes. In the 1 970s, 
such a bond would have outperformed 
almost any other financial investment 
But in recent yeais such bonds would 
have provided relatively poor returns, 


compared with gains as high as 30 
percent or more in some years on blue- 
chip stocks. 

If inflation averages 3 percent a year 
for die next decade, about the current 
rate, an investor would do just about as 
well with these bonds as with normal 
10-year bonds. If it is higher, die new 
inflation-adjusted bonds would per- 
form better. 

Still, for investors seeking to pre- 
serve wealth, the bonds offer a level of 
protection not available to most in- 
vestors before Wednesday. 

■ Indeed, one of academia’s most 
prominent advocates of buying stocks, 
Jeremy J. Siegel, a finance professoral 

See INFLATION, Page 15 


Olivetti Nurses Wounds 
But the Losses Fester 

Sale of PC Unit Might Augur Rebound 


CtMVOrdbf Oar SfFm Dape**n 

MILAN — Olivetti SpA* an Italian 
office-equipment maker, said Wednes- 
day it forecast a 1996 pretax loss of 
about 800 billion lire ($494.7 million), 
narrowed from a loss of 1.6 trillion lire 
in 1995. It cited slower sales and start- 
np costs at its cellular phone unit Om- 
ni tel -Pronto Italia SpA for the continu- 
ing loss in 1996. 

Olivetti’s shares have slid 1 1 percent 
in the past four days as analysts pre- 
dicted that the company would post a 
larger loss than previously expected. 
They closed 1 lira lower at 651 in Milan 
on Wednesday. 

The announcement underlines the 
company’s inability to drag itself back 
into profitability after six straight years 
of losses, forcing Olivetti to ask share- 
holders for fresh capital three times in as 
many years. Hie recent sale of the com- 
pany's persona] computer unit, which 
had generated the bulk of its 4.7 trillion 
lire of losses in the past six years, is 
hoped by many to signal a turning 
pomL 

“After the 1 996 accounts, there is no 
more bad news,” said Luca Coloso, an 
analyst at Sella Asset Management 

Olivetti said full-year sales fell 16 
percent to 8 21 trillion lire. The situation 
worsened in the second half of the year, 
when sales tumbled 21 percent 

“The decline in second-half sales 
was caused by a negative corporate im- 
age created by factors outside of the 
company,” Olivetti said. 


The loss, which was in line with 
analysts' expectations, occurred in spile 
of one-time gains of 531 billion lire, 
mainly from the sale of a minority stake 
in Omnitel, the personal computer di- 
vision. Olivetti lost 440 billion lire in the 
first half of the year. 

Analysts said they were encouraged 
by the company's success in reducing 


its debu seeing it as a step toward re- 
pairing a much-damagec 
if un 


iamaged faith in man- 
agement after years of unfulfilled prom- 
ises to stem losses. Chief Executive 
Roberto Colaninno promised to reduce 
the company’s debt through an asset 
sales program when he took over after a 
management shake-up late last year and 
has since sold off pan of Omnitel and 
several other smaller assets. 

Net financial debt fell to 2J25 trillion 
lire at the end of December from 3.0 
trillion lire in August last year. After the 
sale of trades receivables in a secur- 
itization contract and deferred payments 
to suppliers, the company expected to 
declare a net debt of 1.73 trillion lire at 
the end of 1996. 

“This figure is very good if you con- 
sider that the company was on the verge 
of collapse a year ago.” said Annibale 
Sabatini, a Credito Italian© analyst “The 
market may take this figure as a signal 
that the company is turning the comer.” 

Olivetti said its board would review 
in April the financial statements of the 
parent company but that ‘ ‘adjustments” 
would have no impact on consolidated 
results. (Bloomberg. Reuters, AFP) 


U.S. Callback Services Face Tax in EU 


lur! 


Copied by Our StdfFmm Dapmha 

BRUSSELS — Hie European Union 
moved Wednesday to close a tax loop- 
hole that helps American companies 
make millions by offering Europeans 
Cheap internati onal photic calls. 

Responding to requests from all 15 
EU member nations, the European 
Commission proposed the imposition of 
a value-added tax on noo-European 
phone companies to protect European 
mat are bang undercut by the" 
iper overseas rivals. 


But the decision by the commission, 
the EU's executive agency, allows n*- 
tional authorities to impose the taxes 
immediately pending approval of EU- 
wide legislation. 

The comnrisaon said it hoped to level 
tbe, playing field by applying such a tax 
Customers of callback services can 
bypass local phone rates by dialing a 
number in the United States, which then 
calls the caller back, placing the cus- 

fbmCT'OTalowerU.S: rate. 

The commission said it did not expect 


die levy to reduce significantly the mar- 
ket share of outside providers since the 
differences in the prices of the nails are 
much greater than the rate of the VAT, 
according to Alexander Wiedow, a 
commission official. 

The tax will apply to all calls, in- 
cluding the cost of linking up to the 
Internet But it will not apply to service 
providers, such as CompuServe, an on- 
line service provider, because their fees 
are already subject to the VAT. 

(AP. Bloomberg) 


Deal on East German Debt 


Reuters 

BONN — Germany has reached a 
compromise on carving up and re- 
paying billions of Deutsche marks of 
delinquent debt that had been piled up 
by municipal authorities in the former 
East Germany, the Social Democratic 
opposition said Wednesday. 

The deal, reached in the parliamen- 
tary mediation process, would divide 
8.4 billion DM ($5.12 billion) in debt 
equally between the federal govern- 


ment and Eastern stales, the party's 
parliamentary manager, Peter Struck, 
said. He added dial debt repayments 
would begin next year, avoiding an 
extra burden on the already strained 
state finances this year, when Bonn 
wants to qualify for European eco- 
nomic and monetary union in 1999. 

Earlier. Chancellery Minister 
Friedrich Bohl said Bonn would take 
over die old debts of Berlin. Ger- 
many’s new capital is nearly broke. 


INTERNATIONAL MANAGER 


i0ne Big Mac, Hold the Fluctuations 


By Keiko Kambara 

Bloomberg Nns 


I 



\ TOKYO — Are McDonald burgers 
’ immune to exchange-rate fluctuations? 
0 That's what people might have 
'thought last month, when the dollar 
soared to a 44-month high against the 
-yen — and McDonald's Co. (Japan) 
responded by starting a 22-day cam- 
paign of discounting hamburgers. 

A weakeryen should make imports to 

• 'Japan more expensive, . pressuring 
^companies like McDonald’s that pro- 
; ( cure materials from overseas to raise 
■^prices. Instead, Japan’s largest fast-food 

chain began selling plain hamburgers 
- 80 yen (67 cents) apiece, down 50 

fcycn from its regular price. It followed 
'-that this month by offering discounts on 
■’Big Macs and other types of ham- 

• 'burgers. 

The dollar soared Wednesday above 
122 for the first time in nearly four years 
' and McDonald's still has no plans to 
raise the price from 130 yen, which 
compares with the 210 yep or more that 
” many other fast-food chains charge. 
s t~. "We’ve developed a system that al- 
\ .lows our prices to be shielded from 
! exchange-rate fluctuations,” said Kenji 
S' Kaniya, a spokesman for McDonald s 

• (Japan). “If we depended on exchange- 
- 1 rate movements in setting prices, our 

would never stabilize. * 


japrices would never stabilize. . pressure ou 

Something less than magic is in- down. 
fl voWed here. McDonald’s ability to ftqpMed m 
’ r-dmw th* ven. while many of alone. Kinging 


shrug off the weak yen, while many of 
Ms competitors are struggling, mainly 
underscores how larger companies can 


withstand exchange-rate shocks more 
easily than can smaller ones. 

That’s a key advantage in a com- 
petitive market like Japan’s fast-food 
business, especially, at a time when de- 
clining beef consumption makes raising 
prices a grim option. 

Far one tiling, McDonald’s interna- 
tional network enables it to find the 
cheapest sources available for its 
products. 

It does this through a global pur- 
charing system, which calls for world- 
wide joint merchandising of materials 
— beef patties, French fried potatoes, 
sesame seeds, even paper napkins — by 
branches of McDonald’s Corp. of the 
United States, which owns 50 percent of 
McDonald's (Japan). 

The U.S. headquarters has gone so far 
as to develop software, which, with a 
few hits on a computer keyboard, shows 
a list of the most inexpensive suppli- 
ers. 

Hie idea behind global purchasing is 
that the more than 19,500 McDonald's 
shops in 101 countries can drive some 
hard bargains with suppliers if they buy 
materials in bulk instead of separately. 

The other weapon McDonald’s has 
against suppliers is its sheer expans- 
iveness. McDonald’s (Japan) ’s restaur- 
ants, in particular, are multiplying 
throughout tire country, adding further 
pressure on suppliers to keep prices 
down. 

It opened more than 500 last year 
alone, bringing the total to more than 
2,000, including the 323 added in 1995, 
the 137 in 1 994 and the 89 in 1993. That 


means that in four years, the company 
more than doubled its number of outlets 
in Japan. 

To reduce investment costs, many are 
so-called satellite shops, where man- 
agers, know-how and materials were 
provided by nearby parent shops, Mr. 
Kaniya said. They all moved in an “ef- 
ficient cycle’ ’to cut costs and raise saks, 
he added That cycle, he said, began when 
die company distributed questionnaires 
to its customers and found that the ideal 
price of a burger was 130 yen. 

One tactic both McDonald’s and some 
of its competitors are using to protect 
themselves from the yen’s weakening 
are forward contracts, which they have 
signal with books to set in advance die 
value of dollars they will buy for yen. 

McDonald's has agreed to buy dollars 
for 1 03 yen by the end of this year to pay 
for such ingredients as beef patties, 
which it mainly imports from Australia. 
The company has to first sell yen for U.S. 
dollars before cot verting the dollars into 
Australian dollars to buy the meaL 

The drawbacks of the yen’s recent 
weakness won't be immediately reflec- 
ted in prices because of favorable for- 
ward contracts, said Kozo Yamamoto, a 
spokesman for Daiei Inc. Daiei’s group 
includes Wenco Japan, which has a 
franchise contract with Wendy’s Inter- 
national Inc. and runs Wendy’s ham- 
burger shops in Japan. 

‘The dollar's rise by 1 yea doesn’t 
necessarily mean a rise in our ham- 
burger price by lyen,” Mr. Yamamoto 
said. Wendy’s m Japan sells ham- 
burgers for 210 yen. 


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* * * - 


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FRENCH FRANC 


BELGIAN FRANC 


CURRENCY & INTEREST RATES 




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on Robeco Bank , fill in the coupon. Or call us in 
Geneva on (41) 22-939 0139. Or use fax or e-mail, 
quoting the reference. 

n As of 15 January 19*>7; 0.2% annual account fee applicable 


To: Tbe Manager: Robeco Bank (Suisse) S-A-, 16 cbemin des Coquelicots, Case Postalc, CH-1215 Geneva 15, Switzerland. 
Fax: (41) 22-341 13 92. e-tnafl: info®iobccobankxh Reference: C IH E 05 97 

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TrgnrRTtf ATTflNAI. HERALD TRIBUNE, SATURDAY-SUND/P!, FEBRUARY 1-2,1997 






iHUfe. 




PAGE 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30, 1997 


THE AMERICAS 


Investor’s America 


30-Vear T-Bond Yield 



Dollar in Deutsche marks H Dollar in Yen 




1fl6, a" s ’ o' "n "d" j 

1996 1997 


. Wednesday PrevJ.. ■ % ‘ 

‘ : :Ctose'.- • Close: 


' epvm ■ m&n s *127 


NYSE 

S&P 500' ' 

'■772M- .765dK" 4098 

NYSE 

sap too 

.758.40: 

NYSE. 

Composite . 

40W» ;-402j85 ■ +080 

UJS. 

N^daq Composite 1355.1? 1351^5 +023 

AMEX 

Market ValttG ' 

&8TJBJ \m.m —007 

Toronto 

TSE Index • 

6071JBB 604B.7J ' +0.41 

Sio Paulo 

Bovespa 

773^.10 -70497^0 . -1M 

Mexico City 

Botea 

■ 3631.8? 3676.76 -1.23 

Buenos Aires Meival 

676.^; 666.30 

Santiago 

IPSA General 

5162.52 515&21. +0.08 

Caracas 

Capital Gttieml' 

6317154 826358 +0.80 

Source: Btoomborg, Reuters 

InterTEXionol Herald Tribune 

Very briefly: 


Philip Morris Profit Rises 16% 


NEW YORK (Bloomberg) — Philip Morris Cos. said Wed- 
nesday its fourth-quarter earnings rose 16 percent on strong 
demand for its cigarettes, especially outside the United States. 

The maker of Marlboro cigarettes said net income rose to 
SI.47 billion from $1317 billion a year earlier. 

The results were lifted by a 17 percent increase in in- 
ternational tobacco profit. Philip Morris, already the world's 
largest cigarette maker, should be able to keep up that pace as 
it spends heavily to increase its share of overseas markets, 
analysts said. Revenue from continuing operations rose 7.3 
percent, to S16.7 billion from $15.6 billion. Operating profit 
from international tobacco sales rose 17 percent, to $853 
million. 

Philip Morris shares closed up $2 at $1 16375. 

• Wang Laboratories Inc. announced an agreement to sell its 
software unit to Eastman Kodak Co. for $269 million. The 
company also said its earnings felt 35 percent, to $4_5 million, 
in the fourth quarter. 

• Bethlehem Steel Corp.'s fourth-quarter profit from op- 
erations fell 27 percent, to $233 million, and a $370 million 
charge to sell or close four unprofitable units led to a loss of 
S3463 million. 

• AT&T Corp., the biggest U.S. long-distance company, is 
raising rates for certain collect phone calls by 10 percent, the 
second increase for these services in less than a year. 

• Hilton Hotels Corp. is weighing a bank loan or bond sale to 
raise about $3 billion for its $103 billion bid for ITT Corp. 

• Haarmann & Reimer Corp., an American subsidiary of 


Netscape Bets on ‘Intranets’ 

Its Browser Lock Ebbing, ‘the Pressure’s On’ 


By Rajiv Chandrasekaran 

Washington Pan Service 


The numbers that Netscape Com- 
munications Coip. reported Tues- 
day would make most software 
companies jump for joy; quarterly 
sales of $115 million, up 177 per- 
cent from a year earlier, net income 
of $83 minio n, up 1,600 percent 
So why have investors knocked 
the stock down by more than 35 
percent this month? 

Because as the company ap- 
proaches its third birthday, many 
feel it has a murky future, no mat- 
ter how rosy today's performance 
may seem to be. 

Microsoft Corp. is breaking Net- 
scape's lock on the market for 
“browser” software that people use 
to explore the World Wide Web. 
And it is not yet clear (hat Netscape 
can execute a key part of us 
strategy, focusing on “intranets,'’ 
the internal corporate networks that 
are based on Internet technical stan- 
dards and allow people to share 
documents and messages. 

Many analysts say Netscape's 
ability to capture a sizable piece of 
the intranet market will be central 


to determining whether it remains 
adorn . , 
ley or one of many has-beens in die 


aermining 

a dominant player in Silicon Val- 
ant 


boom-and-bust landscape. 

“This is a very important time 
for us,” said Peter Currie, Net- 
scape's chief financial officer. 
‘The pressure’s on.” 

Netscape was one of Wall 
Street's hottest performers in its 
early days. Its stock went on sale at 
$28 a share in August 1995, at the 
height of public expectations of 
billion-do liar businesses in foe In- 
ternet. It climbed to the mid-SOs by 
December, but since then has 
cooled off as competition has 
emerged and as the Internet has 
been slower than expected to gen- 
erate money-making businesses. 

On Wednesday it dropped 
$1,125 to close at $36375. 

The earnings figures released 
Tuesday were for Netscape’s Oc- 
tober- December quarter. The 
company also reported that for the 
year, its sales totaled $346 million, 
up from $85.4 million in 1995. Net 
income was $20.9 milli on (24 
cents a share), compared with a net 
loss of $6.6 million in 1995. 

“The cat's out of the bag,” said 


Mare Usexn of Salomon Brothers 
Inc. “It's not just Netscape that 
understands the Internet any more. 
Going forward, we’re not going to 
seethe kind ofheady growth we’ve 
seat from them in the past” 

Many analysts, and Netscape 
too, say the company needs to focus 
on the coroorate network. “At foe 
moment, the low-hanging fruit is in 
the intranet market” said Daniel 
Rimer of Hambrecht & Quist in 
San Francisco. “That's where Net- 
scape really needs to be.” 

Netscape has introduced a “pre- 
view version” of a desktop 
product . called Communicator, 
geared for corporate customers. It 
is a combination Web browser and 
E-mail program that lets intranet 
users share documents, comment 
on internal message boards and 
maintain joint on-line calendars. 

But while scores of businesses 
are interested in such products, 
Netscape is just entering this mar- 
ket By contrast, Microsoft's Ex- 
change software, which was re- 
leased last year, has about 23 
milli on users. Lotus Notes, on the 
market for four years, has more 
than 93 millio n users. 


AOL Offers to Reimburse Clients 


Cmp3fd bf Oar Staff Fimt Dapatcha 

WASHINGTON — America 
Online Inc. said Wednesday it 
would reimburse customers in 
cash, or free on-line time, and limit 
membership at 8 milli on to address 
the subscriber complaints dogging 
foe No. 1 on-line service. 

AOL also expects to sign an 
agreement Thursday with 36 states 
over problems that have prevented 
customers from using AOL. Be- 


cause of foe large number of states 
involved, foe deal afreets AOL’s 8 
million customers nationwide. 

Among foe terms of the agree- 
ment. AOL will refund as much as 
$39.90 a customer, halt new ad- 
vertising and expand the ways 
users can cancel foe service, in- 
cluding allowing them to quit on- 
line or by fax or letters. 

Subscribers bave faced busy 
signals and delays since Dec. 1. 


when AOL unveiled a flat-rate 
price of $19.95 a month. 

AOL shares closed $2 higher 
Wednesday at $37.25. 

“This is less a legal matter or 
financial matter for US than it is 
responding to customers.” said 
AOL’s chief executive officer, 
Steve Case. 

State officials had threatened to 
sue the company for deceptive busi- 
ness practices. (AP. Bloomberg ) 


Profit Outlook Gives 
Wall Street a Boost 


NEW YORK. — Stocks rallied 
Wednesday as interest tales stabil- 
ized and investors seized on shares 
of companies they expect will report 
strong earnings growth this year. 

“we’re continuing to see money 
go toward those companies that can 
have good earnings returns over foe 
next two or three years,’ ’ said Jack 
Sullivan, a principal at Haras 
Bretall Sullivan & Smith LLC in 
San Francisco. “By good returns 
we mean earnings growth of 15 to 
20 percent.'* 

The Dow Jones industrial aver- 
age gained 84.66 points to 6,740.74, 
helped by a 60-point surge in foe 
last hour of trading. Advancing is- 
sues outpaced dec lln ers by an 1 1-to 
10 ratio on the New York Stock 
Exchange. 

In the broader market, the bench- 
mark Standard & Poor's 500-stock 
index rose 7.4S to 77230. The Nas- 
daq composite index gained a less 
robust 0.80 to 1355.17. 

“A lot of companies have 
demonstrated they still have earn- 
ings potential with modest sales 
gams ,” said Douglas Myers, a 
trader at Ihterstate/Tohnson Lane. 
“That bodes wetl for the bottom 
line and for foe stock market.'' 

Rising most in the 30-stock av- 
erage for a second day was Inter- 
national Business Machines, which 
approved a stock split for foe first 
time since 1979. The move was 
viewed as boosting individual in- 
vestors’ appetite for shares in foe 
world’s largest computer maker. 
IBM rose 5% to 156%. 

Bonds were slightly higher after 
a report showing that orders to U.S. 
factories for large durable goods — 
a key gauge of the manufacturing 
sector — unexpectedly fell 1.7 per- 
cent in December. 

The decline contrasted with other 
recent data suggesting economic 
growth accelerated ax year-end, 


threatening to squeeze inflationary 
pressures such as rising wages. Toe. 
latest inflation reports, however,' 
have revealed no significant jump 
in most prices, spurring optimism 
that next week’s strategy meeting at 
foe Federal Reserve Board will not 
produce an interest rate increase 
aimed at slowing drings down- 
Ttae benchmark: 30-year Treas- 
ury bond rose 5/32 to "94 28/32, 
pushing the yield down to 6.91 per- 
cent from 6.92 percent 
Investors favored shares of many 
stable growing, large companies. 
Exxon rose 2% to 10314, Intel rose 





r , .mi-i 


7 7~1 


■ ■* 1.- 
% rl* 




U.S. STOCKS 


3% to I54M, and dmgmaker Bristol- 
Myers Squibb rose 3 % to 123%. 

Du Pont rose 2% to 107% after 
the chemical maker and oil mar- 
keter said earnings jumped 21 per- 
cent to $132 a share, 3 cents short 
of estimates. ^ 

Quantum leaped VA to 36% after 
the disk-drive manufacturer said it 
earned 85 cents a share, reversing a 
loss a year earlier. 

General Motors rose !4 to 61 after 
workers at GM’s truck assembly 
plant in Ohio returned to foe job* 
after reaching a tentative contract 
agreement that ended a strike. 

Workers will vote on foe contract 
Thursday and Friday. 

BrinkerfotemarioriaK the most ac- 
tive NYSE issue, dropped 4‘A to 1 1 . 
Numerous investment firms down- 
graded foe stock after a disappoint- 
ing profit report Tuesday from foe 
Dallas-based restaurant concern. 

360 Communications plunged 3 
to 19 after the wireless commu- 
nications firm warned its fourth- 
quarter profit was depressed. 

Sherwin-Williams rose 1% to 
55% after it said its board declared a 



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DOLLAR: Will the Group of Seven Meeting in Berlin Signal an End to the U.S. Currency 9 s Rally? 


.. . ‘HSU; 

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Continued from Page 1 


Bayer AG, agreed to pay a $50 million fine and plead guilty to 
a U.S. charge that foe company bad joined a conspiracy to fix 


worldwide prices for foe food additive citric acid. 

• Sunbeam Corp. reported a fourth-quarter loss of $234.7 
million and said it had completed foe cost-cutting part of its 
restracniring plan. Bbam&erg.AP 


Fears that foe G-7 may come out 
strongly for a halt in the dollar’s rise 
over foe yen and over most Euro- 
pean currencies have damped 
traders' willingness to take foe risk 
of pushing the dollar higher still. 

As recently as late last year, Euro- 
pean officials were still urging foe 
dollar on. Two months ago. Prime 
Minister Alain Juppe of Ranee ac- 
cused U.S. companies of deriving 


unfair benefits from an undervalued 
dollar. Meanwhile, the U.S. Treas- 
ury secretary, Robert Rubin, has yet 
to depart from his script of recent 
months heartily embracing “a 
strong dollar.” 

In Europe, economists say few 
governments have any quarrel with 
foe dollar's rise 1 beyond perhaps 
having some concern with the ac- 
celerating speed of the move. 

“The Europeans are all worried 
about growth and unemployment,”" 


said Herman Theiler, an analyst at 


FOREIGN EXCHANGE 


Union Bank of Switzerland in 
Zurich, pointing out dial weaker 
Continental currencies provide a 
major shot in the arm for the re- 
gion’s exporters. “In Germany’s 
case I t hink they could still use 
more Deutsche mark weakness.” 
Because the U.S. currency is un- 
derpinned by an econ omy foal is 


clearly outperforming its peers and 
by ihc prospect of that faster growth 
finally forcing up U.S. interest rates 
— and returns on assets held in foe 
American currency — analysts say it 
will probably be hard to do anything 
but buy dollars. 

■ Dollar Rises Against Yen 

The dollar closed lower against 
major European currencies but high- 
er against the yen after foe Bundes- 
bank president's comments', news 


agencies reported from New York. 

The dollar closed ai 122.175 yen, 
up from 121.025 yen, in New York, 
but fell to 53450 French francs from 
53570 francs and to 1.4265 Swiss 
francs from 1.4280 francs. The 
pound closed at $1.6200, up from- 
$1.6170. Mr. Tietmeyer’s state-’ 
meats hurt enthusiasm for the dollar. * 
“The market was somewhat sur- 
prised to bear that Germany finally i 
found a voice,” an analyst said. * 
' { Bloomberg , Market News J 


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3 

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—ft 

4231 Zft 

2ft 

2ft 

— ¥u 

010 39ft 

0 

39ft 



Jan. 29,1997 

High Low Owe CUge OpM 


High 


Grains 


9W>97 10000 9700 9730 

EriLsotei NA Tie's. sate 
Hue's open W 


Law Ctea Oige OpM 

i iom 


High Low dose Chge -OpM 


CORN (CBOTT 






5J100 bu minimum- on+t nrr buihri 



Mar 97 

277 

Vi 

275 

♦ 

% 120494 

May 97 

275ft 

271% 

273 

+ 

% 

40409 

Jul97 

2/3ft 

270 

271% 

+ 


40990 

Sep 97 

247% 

244 

246 

— 

ft 

09M 

Dec 97 

248% 

247 

247 

— Tft 

40UI 


Metals 


&LsOes MA. Tie's, sales 66371 
Tub's Open W H2.157 up 320 


SOYBEAN MEAL KBOTl 
ISO tons- town per Ion 
MOT 97 2(1.10 23600 MOJO +160 38383 

MOT 97 23450 232J0 23533 +260 21336 

JUJ97 23190 23170 23630 +219 12973 

AlIB 97 231 JO 22930 23130 +130 3329 

SOP 97 22600 22400 22550 +130 2365 

0097 21430 2KJB0 21530 +230 1053 

EsLSOte NA TUBft-SOes HL7Q7 
Tub's OPin H 87354 OB 8M 


SOYBEAN OLfCBOD 
Mum >»- t»Ma per b 

Mar 97 2630 2401 26.12 -004 46393 

MOV 97 2637 2430 2433 —4211 19359 

0497 2432 2477 24X1 -009 1&194 

Aug 97 2505 2402 2505 +003 1114 

S«B 97 25.19 25.12 25.» +OOB 2391 

Ocr 97 2530 747 

ESLsate na WLSda 18321 
Toe's open ini 71392 up 597 


SOYBEANS (CBOn 

SOM Im mHflwm- cenr, per bMMl 
Mar 97 753ft 742ft 73Uft +6 75343 

May 77 752ft TO MTV. +3ft 37010 

Jul97 752ft 745 749ft +2tt 33322 

Aug 97 748 741ft 743 ♦ ft 5009 

Sep 77 717 713 714ft +U4 1305 

EaL sales NA TueXS£*es 47012 
TWsbpoiM 168.956 <s> 12 


Pea*Trt 

Pcr«hC 

PluNW 

Ptionew 

PKAnBci 

PWRsc 

Po+vrTWd 

RSSi 

PrcCm 

(VOOCT 

PrveCp 

ac.wn 

acawwi 

ncaGaW 

Regan*! 


Trading Activity 
NYSE 


Nasdaq 


AMmaed 

DecUwd 


1156 1422 

1095 1052 


Total asms 

NewHfete 
New Laws 


3T49 3323 

61 96 

17 19 


Total issues 
NewHlsns 
New Lam 


1989 2160 

I9B2 1872 
it® i m 
OV 5728 
157 ITS 

54 69 


WHEAT ICBOU 

U00 Ml nbftmim- oenl* par BuOMl 

M« 77 375ft 370 370ft -3U 26023 

MOT 97 361 356ft 357 -2 DL367 

JUI97 369 346ft 366 —Ift 24080 

SeC 77 351ft 348 349ft — ft 1,553 

EsL solas KA Tlw's.sate IIL437 
Tub's open bit 44430 up ra 


Livestock 


AMEX 


Market Sales 


Pj* 


*+» Aovunced 


jia 


Total rsuias 
New Kens 
New Laws 


286 
231 
198 194 

7TI 716 

14 16 

3 6 


Piet 


NYSE 

Amen 

Nasdaq 


daw cans. 

4«JS 657.77 

17M 3tLM 

SS&3I 656.96 


CATTLE (CMBtl 

40000 Bml- cam par 16 

Feb 77 6437 6187 £397 -4L60 194105 

Apr 97 4U5 65.60 4590 -032 37^07 

Jun97 66.60 66JH 66.27 -0.10 13.809 

Aug 97 6425 61S8 44.15 WJBO 

0097 R9 *7.10 47.67 +0L15 8,710 

Dec 97 UMJ 69.53 0.82 —030 1567 

Est sates NA Tub's, sdes /X/x 
Toe's open W W2JB4 up 1523 


GOLD MCM3Q 

HX) IrnriB.- dolors car troy oz. 

J0097 353.90 5 

Feb 97 35420 351 JO 351 JO -120 37JS9 

Mar 97 35480 68 

Aw 97 J5620 35270 KUO -260 64309 

Am 97 35680 35580 3SU0 —ISO 22J99 

Aug 97 35BJ0 35880 3SB30 -210 8J85 

0097 361 JB 3BL50 361 JO -3j40 V79 

Dec 77 36X50 36260 34150 -1J0 M4S 

EsL sate NA Toe's, sate mjm 

iwiwenw 10,160 an 2095 
M GRADE COPFBl (NCM30 

25JOI In.- o»rt» Porta. 

Jan 97 111.10 moo MMB —330 1,986 

Feb 97 107.65 100381 103JB -195 2,994 

Mar 97 106.10 10130 10233 -265 25464 

Aw 97 10220 100.50 101.10 —115 1J22 

May 97 (0140 9980 KB80 — 190 6yU0 

Am 97 TDflLSB WAS WAS — 2JB0 70 

JUI97 lOOJO 90AB 9848 — US 4J04 

Aug 97 10080 7735 97.95 —140 600 

Sep 77 9980 7733 9740 -£5D 2445 

EsL ten MA Tub's, sate 7467 
Tub’s amnM 55J45 up 666 
9LVHR (NCMX) 

A «00 bw az.-anb portrayal 
-ton 97 mm —130 1 

Ft* 77 69100 -160 2 

Mar 97 496JD 689JD 6M00 -UO 0400 

MOV 97 501-50 69480 69040 — UO 11406 

JUI97 50*80 0940 50120 -130 8487 

Sap 97 51880 S06J0 50780 -130 1974 

OK 97 H11Q 511180 515.10 -UO 4486 

Jan 98 52030 9 

Est.sate KA Tub's. ten ZUZ7 
Toe’s open Int 0J71 oB 261692 
AL47MUM (NMEta 
SO trw Mari per tray ai. 

Apr 97 36IJ30 35Rffl- 356.70 —180 20,169 

JU197 361S0 36190 X/JX -030 3J» 

Od77 34680 36480 36480 -1.10 2865 

JanH 37180 1480 

EsLsate NA TuVs. tees 2470 
Tub's open ini 2*727 up 473 

Oose Prevlaus 

LONDON METALS (LME) 

Dodcrs per metric ton 
4Mmu (Hjdi OMH 
spot 1580ft 1581ft 160400 16(2580 
Fomnanl 160680 160780 162980 163080 


ITALIAN GOVEBNMENT BOND OJFFE} 

"unji^aMl" ®A» —185 11^755 
JUB97 130.90 130.17 13DJ9 -182 9469 
5ep97 13050 13040 13033 -186 600 

EsL Sales 91.105. Ite* tees 63,732 
Prrr. open Wj 12&824 up 5481 
EURODOLLARS (CMBU 
11 mHlonHPtiariOOpet. 


High Low Close Chge 

Morn 7841 ‘ 7UD 7140 
Sit sates NA Tub's, sate 7.717 
Toe's open Int 62805 up M 


Oplffl 

7U. 


tEAUNGOB. (NMER) 

42808 001,0961 per gal 

Feb 97 080 66.90 68.84 +281 Z1J06 

Mary? 6735 6545 6787 +146 39,755 

Apr 97 6440 63JD 4L33 +1.16 11413 


4. 


tar 

i 

f . 


■— i 

. -~m- tor * 


Junta 

Septa 


Jim oi 
Sep 01 
Dec OT 


9119 

*111 

9117 

+O01 39,418 

May 97 

4TJ7 

41.05 

41.67 

+ 0.94 

110 ■ 

». 

' 

93.13 

9105 

911) 

+081 34J28 

ton 97 

4002 

9950 

«W2 

+084 

5.989 : 

!•. .. 


93J» 

9100 

9184 


Jut 97 

0J7 

59.00 

59J7 

+ 1.0T 

3^24 ; 



9100 

9192 

9197 

300 

Aim 97 

WJi/ 

S9-57 

BJS7 

+ 181 

3.01 ' 


- z 

VLW 

9192 

9197 

20459 

Seo 97 

W.97 

BJO 

99-97 

+ 181 

1191 ; 

L 


TIM 

9188 

9192 

20359 

Od97 

4042 

4042 

40.0 

+ 1.06 

1^21 ' 

F 

• . 

9190 

9183 

9288 

11199 

Nov 97 

too 

400 

4082 

+ 1.06 

1S5- 1 


- 

9182 

9174 

910 

9J73 

EST. safes 41445 Tile's, sate 

30947 


t . 


444.no TUB'S, tea 

417 J70 

TUB'S open Int 

90382 

Off 4531 

' 

E ' 




1 .4 

■* 


B? 


BRmSH FOUND (CMBO 
tUH paunch, s per pound 
Mar 97 14270 14164 14194 SUM 

JW)97 14940 14130 14148 ZJtf 

SW97 . 14132 1,038 

Ok 9I i/m 7 

Est. solas 1 0,583 rue's, sales 15^99 
Toe’s open W 36,74a off 191 ■ 


CANADIAN D01LAR (CMBO 
18 n 8Wpa U WB.8PBrQ8l.dto 
Mar 97 JOS J669 J4S0 42,176 

Am 97 -7517 J493 J4M O0 

Sep 77 .7533 3J08 

Dec 97 JS6S J$n J5K to 

Est- tees 5453 toe's, sales 4,986 

Toe's Open Int 54495 up 821 


ML451 . 
37449 
22804 
32836 ‘ 
15816 • 
16816 ■ 
15476 1 
10.707 ■ 
7401 
24,941 
12400 ' 
7J16 ’ 
2821 ' 


GBIMaNMARK (CMBQ 
V SAB00 marks, s par mark 
Mor97 4135 4098 4RB 85J7B 

Jim 97 4171 4136 4147 5.122 

Sep 97 4208 4116 4187 2856 

Oac»7 422B 1* 

Bstsfite 26,196 Toe's, tees 27,13 
Toe's open W 93,174 up Oil 




mitecn 

246080 257380 257880 


265580 

219180 219280 224180 226280 


+eenn 

66880 


645ft 

67680 


FEEDEH CATTLE (O4B0 


Spat 65680 

ftiwanJ 66780 

NkM 

Spat 705080 7D5580 715580 
Forwrd nSUOO 715580 7360.00 
Tto 


667ft 

57880 


715580 

735580 


Dividends 

Coapaay 


Pw Amt Rec Pay Company 


Par Amt Roc Pay 


— ft. 


4'. 4'V — n, 

t">H 4Ai 
9'S aft • ft 
l!t 1 13 .ft 

lift IS 1 : 

3& : . 37ft .ft 
41* Aft * ft 
'fti *Vi, ,»•„ 
ISft 16ft -ft 
18ft 18ft —ft 
76+i 27 —ft 

14ft 14ft 
Ift 9 ,H 

3 a 

TOft IB’- . ft 
J»'i 34Vj _ft 

7ft 7ft -ft 

UPS M". —ft 
14ft 16ft ♦ 's 

9ft 99i+ *W'u 
lift lift -ft 
lift ISft -ft 
■6ft 15 -ft 

Sift 77ft .ft 
lft 1ft .ft 
lft. X3, -V, 


IRREGULAR 

_ . . - - 4875 3^1 6-1S 

FreeSlatB CanGtai b 455 2-7 3-31 

TomWns ADR b 8553 2-6 +-21 

VodRtet EwjAUR b 813 2-7 Ml 

West Deep LbviiIs b J8 2-7 3-31 


Bear Sims otftofA 
iCanGW 


STOCK SPLIT 


Meridian Dtagnost 
PcotSot Bcsrs MA 
RoBlns Inc 

Shemfn winoms 

TFRnandaf 

OMRnondal 

Warner Lambert 
West Coast Bp FL 


Q 845 2-3 2-11 
O J» 2-28 3-14 
O .15 2-10 3-10 
Q X 3-3 3-17 
Q M 1-31 2-14 
Q 835 2-10 2-24 
O 88 2-7 3-10 

Q .127 2-7 2-17 


Jan 97 6940 6920 082 -087 

Mar97 69.40 6890 088 — <U2 

Apr 97 0J5 0.15 087 —027 

May 97 7085 69.95 7U0 — 0.12 

Aug 97 740 7195 76.T7 -B.4Q 

Sep 97 7585 7640 7400 -025 

Est- tees NA Tufs. soles 4 . 1*1 
TW^ateiH 22413 up 610 


1 888 
7888 
2.964 
6826 
3821 
920 


Spat 574080 574580 581580 

Forward - - - - 


omasa smsxo 587580 
noc (spedal Mgh Grade) 

Spat 1098ft _ 1099ft 110B80 
Forward 


582080 

587480 


9447 —041 

9A£ UndL 181857 
9477 UndL 14690 
9A» — D-Dl 154.174 
9M0 —002111855 
96. » —082 93411 


1121ft 112280 1129ft 
High Law Close Chge 


110980 

113080 


opim 


t Omaha 3 tor 2 split 

FW'GA HldaTfarT W8L L 
Parcwl InS Z (arl spSt. 
Serotoqtata 3 lor 2 spur. 
SlwrwmWffitams 2 tor 1 spflt 
5Mte Fnd5acs A 6 tor 5 spJtt. 


SPECIAL 

CaptM Traraamer _ .10 2-14 2-28 

RESUMED 

EDO Corp _ 825 3-4 3-31 


H0G5-UW (CMER) 

6 A 000 Rk.- eatBB ner to. 

Feb97 7682 75.15 7S3S -092 

AW 77 76.15 75.15 7iH -082 

J161 97 0135 79-55 7957 HJJS 

M9I 7a* 77J0 7U7 -0J7 

Aufl 97 7445 7480 7447 -025 

Od 77 678S 087 052 —085 

EsL soles NA Tup's stfles 8.133 

Tub's open W 3458? up 1595 


Financial 
UST.BBXSKMBU 


9537 — 083 <0844 
95.11 —003 2S491 

9685 —003 19874 

9456 9489 -003 10*47 
— Q-D 2 60 
—002 176 

9384 —082 50 

9242 —082 100 


SJV 

11790 

7 am 
\M 

1813 

1854 


SI moSon-ptiiif UMpcS. _• 

MV97 9195 #491 9487 4825 

Jun77 9479 9475 9178 +081- 1XS 

Sep 97 K0 9486 9457 +UQ 727 

Ed.sote NA TUB'S. tea 80. 

Toe's open Irt BJB1 


INITIAL 


Bear steam 


STOCK 

- 5% M4 2-28 

- 10% 2-38 >14 

- _ 5% 2*4 2-18 

TrustMaster _ 3% 2-H _ 


AmtnisK 

BkOfl. . . . 

Cherahoe toe 

Dam CKBcbSoM 


515 Bancorp 
toFBdSwsA! 


SWBFDdS._.. 

wwtwo hhmsw 


- -W M 2-17 

- as 2-7 2-21 

- .15 2-25 3-17 

- M 2-2J >10 

- .12 2-3 2 ffl 

. .12 3-24 4-7 

„ 87 2-12 2-28 


308 10ft 10ft um *v> 
3510 4 *h 4' • 6W ft. 


AflWfHWlPptyj _ 
■norm Group 






TnMuudn 

745 

15'. 

14ft 

15 


3". u 

3ft 

fv* 

+i.. 

Tripiiecri 

288 


lft 

V'« 

♦ ft 




Tr4Wi 








13ft 


TubAWi 

150 

Uft 

lift 

17% 

-ft 





Twt*C 

119 

14 

13U 

14 


l^r. 

ft,, 

1ft 


USTOP 

742 

lift 

lift 

lift 





♦ Li* 

(JnM 

ire 



« 





■ 







t'J 



UMtet 

)l> 

IJ'i 

13 

U 

-ft 




— Va 

US3*»oi 

1106 

11', 

lift 

l*ft 

-ft 

1 'll 



- 

IM-; ra 

20 

161 

27% 

lift 

26% 

lift 

241, 

lift 






VKCfl 

79 

lift 

11% 

lift 



0 

0 L i 



in 

13% 

17ft 

Uft 


3+.i 

3+4 

Ift. 


Vocom 

54 ft 

34% 

33ft 

34 


3ft 

S'* 

2U 

-i. 



0ft 


lift 

-ft 











lift 




Wae«S 

199 

.1 


in 


IB 

l* 

l« 


VhMOfl 

Tin 

Ift 


lft 







2 S 


Hu 


♦ft 





VuyMN2 

10 

IZ>, 

12V 

12% 




6% 



TI4 

■ift 

IP4 

I8'A 



17V, 



W1RET 

1409 

13% 

UV, 

13 

Uft 


IVi 

9t-l 

FV., 


WlrnjsT j 

2172 

H% 

n% 

♦ ft 

Uft 




WEBAUrn 

116 



10% 


0’> 

471, 

48*-i 



94 

127, 

12 ft 

139, 


I'+T. 

Ift 



WHBFran 

m 



l+ft 


3 1 

Tft 

pi™ 



176 

m; 

lift 

W'+ 













ft 









HU 

HU 

17 

n 

-ft 

WEBMmn 
XCL Lid 

2199 

UVu 

1V U 

“t 

12’A 

-h 

lift 

lift 

11V, 


Xytrpn 

19* 

IV* 

lvj 

•ft. 


BanKnorm 
□J Bancorp 

Cooker Restaunnri 
Fahnestock Viner 
McGrow-Hid 


INCREASED 

O £25 2-70 2-24 
O J9 3-21 >7 

Q 87 2-14 >3 

- 87 M0 2-24 

Q 86 2-10 2-Z1 

Q M 3-26 >12 


REGULAR 

Atlantic RfchfleW Q 1875 2-14 >14 

Exxon Corp 0 79 2-10 3-10 

onBOuofc b- ronmaknu te amw u it per 

BlmrADR; gimyWNB la QmotaBi Under 

anwmt«y;o+mitoiBtta utml wmom 


PORK BELLIES tCMBO 
WUtal iw^oenta per h 
Feb 97 7985 7885 7140 -177 3,178 

MOT 97 7985 TWO 78.10 -187 l^D 

MOV 97 8040 7SJ0 7BJ0 —185 U2Z 

JUI97 7985 7780 7IUS -1 JB « 

Aug 97 7675 7477 7472 -1J2 437 

EsL soles NA Toe's, tees 3700 
Toe's open w 8,10 off 19 


5 YR. TREASURY (CB0T) 

IIOAOMPrin- 640U0T MA net 
AV»r?7 106-tX t&Jt 104-01 + K 107854 
Jun97 105-0 105-36 10547 + 05 W.107 
SepOTltt-ai US-31 105-31 + OS 
EsLtees 60800 Tub's, tees 59835 
Tub's open W 19186! up 


Food 



Stock Tables Explained 

Sates fiwnes tie unaOdoL Yeuiy I4ghs end lows reflect (tie prewtous 32 weeks plus lie current 
HeeAMntfttetesraaifirqdaiiWlisiEawtaiB^toAdirUeMaroaunllnolDJSperoeniarRm 
has teen pcALtoeicaiahlgtvlmr range and ttHdend are shown fonhenw HoCks anty. Untsss- 
cdarwisc rata, rotes otiWdendscHMiinuaiaisbiB s enigd i based on ttekriestdedc ro B n iL 
d ■ dhridenC also extra (s). ti -annual rate of cflvtoend plus stock dMdand- c - BquVtatlng 

dlvlttond. oc- PE esasseds 99ted -caieiLd -new yearly Km. ttt - loss in ttie lam 12 monttB. 

e - tttrtdend ttdaiM 0 pahl m procsdlng 12 nanths. f • annual rote. Increased an last 
dectoroiton. g . dhridend to Gmwflan fumts, subject to 15% nan-reslrietWB tax. I - dMdend 
UeUunsJ after spB-uparswctoilMdena. | -UMOendpokl this year. omtttaLrietorrod. or no 
aeflon taken at fcnesr dMdend meding. k - dMdend sedated or ptrid Ms year, an 
acsMniriomw(aM>wirtr(lMderiai inanears. m- annual nm, reduaed on last deoaralton. 

n • new issue in the past 52 weeks. Tlie Mglt-tow range beams with me start of Hading, 
■d - nwt d ay defleery.p-InltM dMdend, annual rate untafioom. P/E -prfa- ean rin us rnBg 
q-c^i^nteudtuniLr-dMdenddecta red or pcM in preceding 12 monms,p&n stock 
dhrtdwd. s - stock spat DMdfflldbegtnsYytm date of ipfiLte- sates. t-cflvWBnd pa Win 
Stock m precettig 12 rnomtu, esttmated cosh value an m-OMdaid or e»«sttltnmon dots. 
B- newye wty W^-tredhighalW. it -In bankniptcy ocniceivenMp or baing teatganlzed 

undet^ Bankruptcy Act, or seewtitesoswmed by widkaompaiiies.wil- when tBsiribirted. 

wt - when issued/ *» - whh warronte, x - «x-tflvWetid or ex-rights, tofts - OKtWrtbvttofi. 
aw- wWvwtwKmBnti. y- ex-dMifeftd and sales In ItrlLyld-yMdLx- sales At IblL 


COCOA 0K5S 
1 B metric Ran- s par ion 
Mar 97 1316 

May 97 1343 
-M97 1370 

Sen 97 lii 
D<C 97 14U _ 

EsL sdes MA. Tue^. 8 dBS JJ55 
Tue'stJPBiirt 08ZT of 38 


18 YR. TREASURY «BOT3 
060800 ten- Pta A 2Snd» el TOO pd 
Ma-97 1DM7 W7-U 108-02 + 05 327884 
Jin 97 107-17 107-00 107-16 + 05 20811 
Sw 97 107-00 107-00 107-00 + 05 663. 

BLsdss IflMtl tub's. sdes 99 , m 
Tue’sennW 349J60 w 4355 


1303 

UM 

-8 

214*9 

1323 

133* 

-W 

3X078 

1359 

1343 

—10 

1X30 

1385 

1387 

—11 

9 JESS 

1407 

14H 

-a 

XB9 


US TREASURY BONDS (CBOT) 
tSpW-41«UWM4sA3Mio#1«ac»l 
Mar 97 110-19 1V-14 1HMB + 06 481379 
Jun 97 11042 108-30 109-24 + 06 3L4S4 
Sup 97 109-10 10-19 10-10 + 06 i« 
Dec 97 MO-28 108-38 lOfr-ta + 06 4845 
at.sate 538800 Toe'S. soles OB820 
tub\ open kit 525721 up U7« 


corwecMSE) 

37800teL- eenta Mr to. 

Mar 97 16780 KL85 16483 +5.10 23513 

May 97 14L50 1SL00 13850 +420 9W 

Jd?7 13770 134J8 0530 +4J0 4J54 

Sap 97 U2JB 1 30LD0 13U0 +4JS0 1771 

ESLSOte NA Toe's, sales IjOS 
TurtoptriW 62,95? off 371 


M GOVERNMENT BUND flJPFO 


SSnaW 101 JQ -036 230472 
JWI97 19030 W0JB6 10QJ4-0JH HK 


Estsate: 2H40. Pro*, tees: 294*14 
Prsv-apenbit: 23830 up 030 


27.141 

17,474 


SUGAR-WORLD 11 (NCSE) * 

tt^amBta- eMperto. 

Mar 97 1 066 1023 10J3 -ftfl# 64J37 

May 97 1L0 KUO M3B 

Jgl97 1042 HL30 1034 

Od 97 1044 1035 1037 

Est. sate NA Tim's, sdes 
Tub’s aawiW 154360 off 3765 
ORANGE JUICE CNCTM 

1M0O ito- cam per lb. 

Mar 97 9290 B.10 8149 -430 16,135 

mern nso nm njs - 42 s Am 

MIT 9U0 9360 fUO -05 1321 


UMCGtLT flJFFJp.,— 

m§? , " , Sfr l 18 WMS l&l -0-22 17402 
JHI97 N.T. . K.T. 109-1+ — (M2 SSI 
Est sales: 78437. Pnw.saleK WLlJB 
PmepWlU: 174173 up 10406 


JAPANESE YEN (CMER) 

I8J mMen on • nor 108 van 
flta-97 JQB7 JJM0 429) 72438 

Jun97 J390 4353 S3SS IW 

SiPW 4490 6471 6471 06 

Est. ten 27,514 Tub's, sate 29675 
■ Tire's open <m 75622 up izta 
SWISS m«<C (CMER) 

12S400ftntnca. soar franc 

JW7 J03J J053 0J36 

-7165 JTO J119 2JS2 

^97 jm m JM 1M7 

E».teto 20452 Tue's.teto 19623 
Tuo'sepenH sun up 46 
*f*Q*fTH HOROMARK (UFFE) 

OMlKjitjn . BK m 1 UQpct 

S5E 9666 MAS 9467 UndL 1567 

MOOT 9668 K6S 9667 —061 

AU77 N.T. N.T. 

j «£7 9467 9463 

S«W 9A78 9673 

D*?7 9460 MJS 

MWW 9662 9636 

Ju«8 9630 94.15 

5epn 95.96 9569 95.93 — nm 7AS11 

DteP 9SAS 9 Sj0O 9564 —0.02 

6*or99 9JJ38 «3S - 

j «Wg 95.12 9 369 

SraW 9467 

Dte9 94JSO 

Mori» 943J 

JtoOO N.T. M.T. 

SSS St Et 

E^ bi+m: I5*isr. n«r. safes 307,772 
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Apr 97 2199 2334 2193 +051 

May 77 2367 2268 ZLO +064 

ton W 2100 . 2259 2194 +062 

AH 77 2250 2235 23.5S +061 

At0 97 2234 21.90 2124 +1139 

SBP97 2134 2150 21.91 +037 

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Nov 97 21 JO 2131 21 JO +035 

Dec 77 21.10 3060 2162 +03* 

Jan98 20J8 S»31 2077 +032 

MJB S«65 2058 +031 

War 98 2060 2040 2040 +039 

EsL tees 0,254 Tue’s. sales 44.10! 
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Mar 77 2544 1410 1438 

Apr 97 IMS 110 II 54 

May 77 1115 2645 2655 

JimW 1100 1050 2640 

3497 1095 2665 2670 

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May 97 050 48.78 MA 7 -169 

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SBP 97 12250 12760 12754— 054 784 

Dbc 97 N.T. N-T. 9660— 026 UndL 
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Commodity Indexes 


s» 

pj-Furore, 


. a»se Preikvt I 

"•WJ.TO 1,M0.1Q 

I5M9 152J05 ; 

*91-16 242.47 j 







1 Hinf 



It 


a h 


flora’s Ear ning , « 
Plummet as Price 
Jf Pulp Plunges 


•i 


Cf*np«W |*» Our Staff Fnm Oispasrhn 

STOCKHOLM — Stora Koppar- 
•TgsBergsIagij AB nid Wedhes- 
ly tot fourth-quarter pretax profit 
11 77 percent, more than expected, 

J xices and demand for its 
ucts dropped. 

But analysts said that while sales 
•uld iip prove, the profit outlook for 
Opstry companies this year did not 

Pretax profit fell to 427 million 
onor C$58.6 million) from i. 82 
llion kronor a year earlier, below 
alysts' average forecast of 582 
illion kronor. 

Stora is the first of Europe’s large 
rest-products companies to report 
nnngs for all of 1996, when ro- 
lls were hit by one of the sharpest 
ice drops ever recorded for pulp. 


FI Fails to Block 
'anal Plus Merger 

1 1 v & Reuters 

U\UrV ^kRIS — A French appeals court 
; rejected a bid by the TFI tele- 
si on channel, a subsidiary of the 
.. j,,, ench construction company 
• a. suyguesSA, to block Canal Plus’s 
-! 5 rger with Nethold NV, Canal 
' Vel us said Wednesday. 

“This is a double victory for 
~ tnaJ Plus,” the company said. 
. -ast Nov. 19, the Tribunal de 
»mmerce dismissed TFl’s request 
. d ordered the company to pay 
. Vj mai Plus 100,000 francs 
18.000]. Today it was die appeals 
. urt’s turn to throw out TFI ’s de- 
" ‘ inds, fining it a further 100,000 
ncs and the cost of the appeal.” 
TFI went to court Ocl 21 to de- 
md a suspension of the merger or 
'exclusion of all Nethold sports 
■’ "Opels from the merger, citmg a 
■vtous agreement between TFI and 
nal Plus on the Euro sport channel, 
which Canal Plus had pledged not 
-'oropeie with EurosporL 

? Canal Plus responded at the time 

i , \| .» l.l-nf 1 the merger did not jeopardize 
Mill tin interests of Eurosport. in which 
was a 33 percent shareholder. 
PN. a sports cable network that is 
' • ‘ t of Walt Disney Co.’s ABCIoc. 
isidiary, is also a shareholder.: ; 


the industry's benchmark product 
American companies such as Wey- 
erhaeuser Co. have already rep or ted 
fourth-quarter earnings that fell by 
more than half. 

Looking into 1997, sales volume 
“should be better,” said Lats-Aake 
Helgesson, chief executive at Stora. 
Stora said order bookings for light- 
weight coated ma garino paper and 
fine paper were strong at the be- 
ginning of 1997. 

“The order situation for fine pa- 
per looked good at the beginning of 
the year,” Mr. Helgesson said. 

Analysts said they agreed sales 
volume would increase, although 
tot did not raise their outlook for 
next year. 

Jukka Huuskonen, an analyst at 
Arctos Securities in Helsinki, 

“The producers' volumes should 
pick up because purchasers' invent- 
ories have been depleted last year.” 

For all of 1996, Store's pretax 
profit fell 71 percent to 235 bflboo 
kronor. If the krona had not 
strengthened last year, 1996 pretax 
profit would have been 750 million 
kronor higher. Store said. A stron g er 
krona means exporters get fewer 
kronor when foreign-currency sales 
are translated. 

Stora said it would pay share- 
holders a dividend of 3.75 kronor a 
tore, the same as in 1995. 

Store’s A shares fell to 337 
kronor after the report, down 3. 

On Thursday. Svenska Cellulosa 
AB is expected to report a drop of 34 
percent to 43 percent in 1996 profit, 
to between 339 billion kronor and 
3.79 billion kronor, compared with 
5.73 billion kronor a year earlier, 
according to a SIX Market Estim- 
ates survey. 

Analysts say toy will be looking 
at other results for any indication of 
price developments in to next few 
quarters, although few say there is 
much chance of any increase in to 
pulp price before spring. 

‘‘My basic scenario is that we 


sotnei 


in the second quarter/ ’ 


will see prices move sideways, with 
i pickup 

said Mikael Jaafe of Sparbanken 
Sverii 

A London-based analyst said he 
did not expect any increase in prices 
until well into the second half of 
1997. (Bloomberg, Reuters) 


Murky Atlantic Skies 

BA- American Link to Wait for October 


■ Bloomberg News 

LONDON — British Airways 
PLC and AMR Corp.’s American 
Airlines said Wednesday they 
would not be able to begm joint 
trans-Atlantic flights until at least 
October because of regulatory ob- 
jections to their plan on both sides 
of the Atlantic. 

The admission, confirming a 
widely held assumption in the in- 
dustry. came as a published report 
said U.S. and British negotiators 



Even so, the two airlines said 
U.S. and British antitrust reviews 
— winch are still under way six 
months after to axrlxnes proposed 
to pact — meant they would not 
be able to link up in time for the 
lucrative summer travel season 
that begins April 1. 

Airlines most apply for route 
authorization months m advance, 
and both BA and American have 
already applied for the summer 
1997 season. “The summer 
schedule is set,” Lizanne Pep- 
pard, a spokeswoman far Amer- 
ican, smd. 

The next window would be the 
winter season, which begins Oct 
1. David Wilson, a BA spokes- 


man, said to airlines could still 
begin some pans of the pact in 
“phases,” implementing steps 
short of uniting their flights as they 
win approval from regulators. 

Analysts say the carriers could 
at least sell seats under one an- 
other’s flight codes, a relationship 
similar to the one between BA and 
its cu r r en t partner, US Air Group 
Inc., and unite their frequent-flier 
programs. 

Bin BA and American would 
have to wait for an exemption 
fromU-S. antitrust law before toy 
could begin sharing revenue on 
trans- Atlantic routes, jointly set- 
ting feres and schedules aim co- 
operating more closely on oper- 
ations such as baggage- handling- 

Washington has said it would 
not allow the exemption without a 
new open-skies treaty, which 
would lift restrictions limiting to 
routes carriers can fly and would 
open Loudon’s Heathrow Airport 
to more U.S. airlines. 

According to press reports, 
Washington is optimistic about to 
talk*, which are to resume Tues- 
day in Washington. “We’ve got 


meat agreed upon,” a U.S. official 
was quoted as saying. “The big 
picture is largely there.” 


Europe to Widen Inquiry 
Into RFs Takeover of MCI 


Bloomberg News 

LONDON — The European 
Commission wifl intensify its scru- 
tiny of British Telecommunica- 
tions PLC’s proposed $25 billion 
acquisition of MCI Communica- 
tions Coqp-, BT said Wednesday. 

Tbe European Union's execu- 
tive agency told BT th£ to 
planned takeover was so complex it 
merited further investigation, said 
David Onr, aBT spokesman. 

The so+salled second-stage in- 
quiry follows three months of 
scrutiny of to proposal by U.S. 
and European antitrust authorities. 
It comes after a call Saturday by a 
group of U.S. Baby Bell phone 
companies, with Deutsche 
Telekom AG and France Tele- 


com, for U3. regulators to make 
sure the BT-MCI combination 
will not strangle competition. 

“This is not unexpected,” said 
Mr. Oir. “As we always said, 
there are significant regulatory 
hurdles to overcome, and we 
didn’t expect tbe merger to be 
cleared until the autumn.” 

In late trading in New York on 
Wednesday. MCX's shares rose 
635 cents, to $34,625. On Tues- 
day, MCI said fourth-quarter 
earnings rose 6.7 percent, al- 
though though its long-distance 
business expanded at its slowest 
pace in two years. BT shares, 
meanwhile, fell 4 pence to 420 in 
London and are up almost 20 per- 
cent since early November. 


Phone Firm 
In Denmark 
To Fire 2,500 

Bloomberg News 

COPENHAGEN — Tele Dan- 
mark A/S, to majority state-owned 
telephone company , said it will re- 
structure its operations and lay oft 
2300 employees by the middle of 
1998. 

Tbe move aims to strengthen the 
company's competitive position, 
streamline operations and cut costs 
as liberalization of to Danish tele- 
phone market increases competi- 
tion. 

The company will dismiss 2300 
workers and recruit 500 more, 
bringing the net reduction to 2,000. 
Tele Danmark’s overall weak force 
of 16,400 to 17,000 employees will 
fell by about 12 percent. 

Tele Danmark declined to specify 
how much ft expected the changes to 
shave from its «nni«i costs or what 
to charges for employee reductions 
and organizational changes would 
total. 

Tele Danmark said it would re- 
organize operations serving 
private clients by combining sev- 
en separate units, which are based 
on geography, inter one main di- 
vision. winch mirrors to existing 
structure of its corporate client 
business. 

Tele Danmark also will split off 
its Internet business from its divi- 
sion serving business clients. The 
division provides to Internet to 
homes as well as offices, and has' 
more than 100,000 customers. 

Tele Danmark will gtreamlint* 
several projects affecting its extern- 
al sales »nd marketing operations 
and its internal administration. The 
company did not provide details. 

The company's shares closed 
Wednesday at 354 kroner ($5630), 
down 1 krone from Tuesday. 


Investor’s Europe 


wawow 

Dax 


London 

FTSElOO 



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meuaor 

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..r.. 

c^cio.: 

; 2,485.01, 2,482,76 

■4X71 

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2,706.86 

-1J88 


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t,T7Z87 1,17254 

-0.01 

aate h : 

:spf- • . 4- -: l 

Z68&49 2,678.97 

-0.38 

Source: Tefekurs 


lnicnuumal Herald Tribune 

Very briefly: 


• Daimler-Benz AG's Debis unit said 1996 earnings were the 
highest in to company’s six-year history as growth in financial 
services, telecommunications and information technology lifted 
revenue 15 percent to 1337 billion Deutsche marks ($834 
billion). Profit figures were not disclosed. 

• FKI PLC abandoned its hostile bid to buy Newman Tonks 
PLC, clearing to way for Ingersoll-Rand Corp. of the United 
States to buy to home-hardware business for $374 million. 

• Telefonica de Espana SA could ask the government to 
allow small investors to buy as much as three-quarters of the 
state’s 21 percent stake in the telephone company. 

• Repsol SA, Spain’s largest oil and gas company, said net 
profit rose 1.1 percent in 1996. to 119.01 billion pesetas 
($855.9 million), from 1 17.7 billion pesetas in 1995. 

• Danone SA's net profit rose 8 percent in 1996. to 338 

billion French francs ($6063 million), benefiting ftom im- 
proved margins after a reorganization in Europe and strong 
international sales. ap, Bloomberg 


Bank of England Sought Rate Hike 


Reuters 

LONDON — Britain’s central bank warned 
tbe government that it must raise interest rales to 
stave off inflation, minutes from a December 
monetary meeting say. 

The minutes, released Wednesday, show that 
tbe Bank of En gland ’s governor, Eddie George, 
told to chancellor of the Exchequer, Kenned) 
Clmke, that a failure to raise rates immediately 
by a quarter point would mean a half-point 


increase in January or February. Mr. Clarke 
overruled Mr. George and kept rates at 6.0 per- 
cent, saying the case had not been made for an 
increase. “Overall, the chancellor thought the 
picture was still mixed, with the indicators giving 
different signals.” the minutes say. 

Comments from Mr. Clarke suggest he will 
fight to keep rates the same until after to election, 
due by May 22, in hopes of retaining homeown- 
ers’ support for to Conservative Party. 


ORLD STOCK MARKETS 


High Low Ctos* 


Wednesday, Jan. 29 

Prices in local currencies. 
Telekuts 

High low daw Prw. 


High low On* P it* 


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303 30S40 30290 
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3BJ0 m <n 3870 
JwS 1058 1070 
3170 3150 3!LW 
*B0 650 *05 

4*40 4470 4*30 
1555 1550 1U5 
9075 9075 9175 
850 975 9-05 

71 JO 7275 7*75 
1270 1220 1X35 
ltS 1*70 1*65 
26JH 2675 I6J8 
1*20 1*25 1*25 
1110 1375 1130 
*43 *30 <7S 

17350 17SJD 17S 

a* n£- zig 

1950 19^ » 

7JD 7 JO 7J0 


3enhagen 




SZaOl kuteE 503. <1 
Pierian: M&» 
399 29*50 288 2W 

m » » n 

<\1 I Fere K» 825 830 830 

eg 366 3S9 360 3»* 

. enure Bk 50551 490 490 SOS 

‘ im! 2SSOQO 2^00 255000 25W00 

. *5fl I MW 173758 17*598 17400# 

,*B BS1 (46 841 *40 

enmre HI M » » 

. OnSskB SSI m SB s» 

SflCfB 1*5 w* 829 810 

' , Mna*B W 351 354 M5 

tana 326 321 325 324 

Wore* A 3« 331 333 337 



Jakarta 

Attmnri 
BktaHMdoa 
BK Negara 
GudangGann 
indaaareat 

laUoftjoO 

sSSSmoHM 

Semen Gi wK. 
Tata te n mnlta a l 


ss iss g 3 

1425 1575 1625 J6Df 

igg '22 "J5 'S 
3S SM g s. 

’i 1 1 i 


GFSA 
tear- • 
UberirHOgs 
LBMflrUta 
Minora 


RoutbiteoJI Gp 
Rfctienwrf 
itariPWtaum 
SABnweitas 


Sowi 
SBC 
Tiger Dais 


-is 

3U 

tB 

lasjs 

1770 

0JO 

42-85 

64 

6025 

12175 

075 

5*25 

185 

6775 


106 106 UOlSD 

m AS*- 346-~ 
310 . 310 320 

11875 11075 11975 
10475 10*75 16575 
1770 17J0 77 JO 
f * JO 6075 0JD 
42J5 42.70 <2-85 
S3 6135 65 

60 60 61 
72JJ0 12275 134 

49SD 4975 fi>75 
S3 5375 B 
182 IBS 103 
46 <775 6*25 


Kuala Lumpur 

CreNtap 17*0 17 

Md Banktag 2875 27 JO 

MdWlSMpF. 6J0 *50 

primnosGes 9 jd 9JS 

Renoaa *so *40 

Resort! WreM 12J0 1270 

Sim* Dartre 975 9J5 

TtttalM 2020 20 

Tenwa 12^0 luo 

UklEiigtaMn 2170 21 



HEX GcMfri tata 269M3 
PierfOat: Z73SJ9 


252 

ao 

2)490 
S4J0 
S5J0 
14J0 
276 
36J0 
121 
313 
101 
79 JO 
44 
426 
S8J0 
88 


:flr 

BAA 
Sarcteys 
Ban 
BAT tad 


London 

At tear Mart 7J1 
AriteOaaMCq *22 
Aagtaa Wrier 6.17 

*83 
577 
1144 

879 
*95 
3 JD 
A 
9JD 
459 
347 
12J4 
599 
274 
5J05 
741 

_ 580 

Bril Start 2 

BrtTriecw *29 

BTR 149 

Bwnofa CnOrai 1075 

Bortrei Gp 1J2 

CdJtaWtatas *06 

CodbuiySdtre *82 

CnrttwiComm 412 

Canute Uutan tSJ 

DmmaxGa 670 

Carat am 405 

Dftnra _ *97 

%$££ 

Gart Acddtert 
Gee 
CKN 


Btael 
BOC Group 

BOOH 

BPBtad 

Brit Aenrep 

BriTAMtaJs 

MMre 

BrilLxnd 

SrVPtete 


jOp 

Grand Met 
GRE 

iGp 


GUS 


hSkhub* 

ta 

trad Toteoca 


*55 

6JB 

*52 

Ul 

199 

199 

787 

*70 

773 

US 

3JP 

3S2 

X97 

9 JO 

US 

999 

9J2- 

9JB 

US 

*70 

*77 

*60 

*52 

*58 

279 

272 

275 

£79 

594 

£70 

*47 

*35 

*40 

*26 

*18 

*23 

*93 

594 

091 

590 

m 


[SSf* ^ 279 

Legal Gate G<P 375 347 

LjSwSTjaOP *J8 <66 

LocasVmPy 271 2J» 

Mats Speaar 
MEPC 
Moran 
Nritand 
NadPW 
NteWest 


OlM 

... 461 

1472 14 1*07 1*32 

743 7jm 746 7 JO 

4 494 196 196 

675 445 670 672 

£21 *3 74? 70 

244 243 

372 34B 

*73 *73 

2JJ9 Z19 
*85 *91 

*48 *45 

1103 1111 
247 2JSJ 
*71 *97 

745 772 

547 471 

245 2.10 

6J5 444 

743 7J5 

1*8 140 

&A3 150 

I 644 
4*7 5*8 

376 373 

*33 *25 

749 *12 

1037 
*63 
_ . 647 

341 135 

970 973 

241 
..'4 482 

942 9 JO 

*62 *68 
MB 343 
341 343 

16*5 16 JO 


nkfurt PM&3W.M 

»n*wc290JS 

S 

S' 

&3'’S5- 8P.W »■“ 

8k SZSB SIM 5240 52J3 
‘ ' 190 *17# 62J5 07? 

40 OM 4X30 6145 


Johannesburg U p*ffic£j} 

AmolgamriBA* 2465 25* 25^ 31*^ 

JiSS-iSS 

• 1- S 4340 4340 44* 


i Grid 
tad 


■wain* _ 
CG-WdOi 
D« “ 



Ui 

uw 

UM 
UM 

VBndeoaLxak 


High Lore dose Pwr. 

1*02 13J0 1340 1*01 

■^<31 -*» *93 • *« 

7.15 7.11 7.10 7.15 

659 670 6J2 658 

*94 *B6 *90 *80 

276 249 271 275 

749 743 747 771 


Mgh lorn QM 


TmraoceaaOff *30 OS 43o 440 

- Storebrand AM - -3420 - 37 40- 3400 


Lew deem 


: T21ZJ5 


FT-SET0fc<2»J« 


742 

*13 

610 

645 

171 

479 

417 

1147 

056 

*05 

120 

194 

975 

645 

342 

1183 

489 

2.16 

AS4 

7J7 

577 

147 

*19 

2J5 

1043 

1-50 

*71 

*77 

545 

6J5 

645 

M0 

*66 

*25 

1271 


7J7 741 

*20 *15 

613 612 
636 640 

143 ISA 
*81 *83 

541 540 

1148 11J6 
045 174 

*93 *06 
315 130 

396 392 
947 948 

40 440 
343 345 

T247 1293 
594 497 
220 134 

5 £05 

744 710 

594 SJO 
148 149 

*21 *24 

2J9 2J9 

1044 1042 
U2 LSI 
*77 *84 

*78 *80 

597 £07 

692 6SS 
670 672 

394 394 

4.95 *0 

*40 *58 

1183 1273 


WHrensHdgs 

332 

125 

125 

131 

Wetsekrt 

*7i 

*69 

*71 

*75 

WPP Group 

2JI 

297 

2 JO 

299 

ZBMQO 

17 JO 

1*95 

I77M 

1*99 

Madrid 


BtesatariK4CU8 


Pirates 

46*47 


17980 

1760 

17940 

17900 


7790 

1745 

J760 

180 


5840 

5700 

570 

5790 

Araentario 

BBtf 

570 

mo 

WM 

7830 

5710 

7970 

580 


ns 

110 

1X0 

1145 

BankMtr 

19790 

19510 

19590 

1VH4C 

BcoCfriraHhp 

3365 

3315 

3340 

3375 

BaBdertor 

2750 

2710 

2710 

2720 

BcaPoputer 

26760 

25910 

3620 

2670 


8580 

8460 

8560 

8570 

CEPSA 

450 

440 

4490 

4490 

CtortnealB 

2575 

25UU 

25IIU 

2600 

gar* 

850 

9370 

800 

910 

8370 

9360 

830 

940 

FECSA 

130 

1260 

120 

1310 

Gat NatuTrt 

3230 

31800 

3208 

32460 

ttenlrab 

1620 

1585 

1615 

1635 


2620 

2515 

250 

2625 

R»P*ot 

570 

5650 

5670 

570 


130 

1.110 

1310 

1350 


6310 

6150 

6240 

6320 

TatefantaJ 

3235 

3205 

3225 

3360 

Union Fenosa 

1195 

110 

1170 

1305 

Votenc Cement 

1*15 

1425 

1435 

140 


Paris 

Aocor 

AGF 

At-Ltartfe 

AkdoAteh 

A» 

Bancalre 

BIC 

BNP 

Cord Plus 


CAC-44 2*6591 
: 248176 


ErtcnanB 

-llweH 

IncadhreA 

tarariorB 

MoDoB 


Cnstaa 

CCF 

Cetetam 

OrtsflonDtar 

CLF-Oeria Fran 

QMBAGdctee 

Danaae 

aMqteHw 

HittocfaBS 

EteriuDDri 

GeaEamt 

HOWS 

ImeU 

Latorga 

Lepnmd 

CSreol 

LVMH 

Lrim-Eran 

MkHriaB 

PottnsA 

Peraad racart 

PwfleaJOI 


Manila 


P&Etadte 337161 


Pirates: 336U9 

AyriaB 

0 

2X0 

0 

0 

Mato Land 
BfePWpta 

0 

31 

3150 

31 

196 

18/ 

195 

1& 

CXP Homes 

15 

14241 

1*75 

MmSaEtecA 

128 

126 

126 

127 

NsSroBarti 

700 

60 

494 

60 

Priron 

1U5 

IOl/S 

11 

1075 

POBortt 

345 34X0 

345 3420 

PM Lang 0« 

150 

I960 

1590 

1515 

San MguaiB 

10 

104 

105 

10 

5M Prtata Hdg 

770 

7-50 

740 

770 


Rennot 
Rent 

Rh-PoutancA 


Sonoe 
soinetaw 
£EB 

SGS Thomsen 


Sodexho 

STGobain 

Su« 

TriraxaoC 


Total B 
U*w 
Valeo 


CSF 


715 686 

17490 17*20 
072 *68 

454 449 JO 
359-80 35590 
678 662 

895 883 

228 221.10 
1195 II6Z 
3380 33*2 
239 23618 
250 242.10 
697 680 

893 875 

49SJ0 487 

1246 1246 
B26 BIT 
536 523 

825 807 

7JD 740 
669 672 

410 39540 
835 821 

32993 32410 
925 895 

19S 1921 

7479 7*55 

560 550 

71150 30510 
37* 366 

30690 290-10 
574 562 

24W 2310 
1*75 1459 

120 11740 
1014 17)0 

18270 177 JO 
1515 1510 
562 541 

273 268 

1134 1095 
38940 381 

614 606 

2000 2736 
111 792 

25150 24620 
590 571 

10 16160 
479 JB 46840 
77 75 

36170 357.18 


705 703 

17*28 17280 
MB <68 
45270 45*10 
m® 359 JO 
6K 681 
891 391 

22370 222 

1174 1233 

3358 3388 
237 239 

247 25 B 

693 691 

K3 S9B 
4HL50 *9870 
124* 1250 

822 811 
5X7 541 

B23 810 

740 745 

687 683 

397 JO 484 

833 835 

327.90 332 

925 960 

1M7 I960 
1462 107 
556 562 

31630 309 

374 369 

30140 30590 
50 566 

2350 2408 
1468 1460 
11990 119J0 
1730 1775 

11030 1BL50 
1515 1518 
547 565 

271 276 

1134 1720 


MT" 

Sereda B 
SCAB 

S-EBretetnA 

StaracfloFai 

smnrtmB 

SKFB 

Sc cra oterewA 
^pattA 
Stare A 
Sy HandhsA 
Volvo B 


237 JO 
1135 
505 
329 
206 
236 
26*50 
1BSJD 
188 
144 
73J0 

1R3 

313 

16850 

11* 

10 

95JSD 

185J0 

177 


231 JO 
1080 
06 
32*50 
10 
231 JO 
266 
184 
12*50 
143 
71 JD 
10 
307 JO 
166 
11*50 
1B8J0 
92J0 
182J0 
172J0 


233 24QJD 
1091 1115 

0650 500 

32*50 327 

202 207 

232 234 

26*50 270 

1M 18550 
IBS 188 
1*« 14*50 
72 74 

190 195 

30 313 

167 JO 10 
115 117 

18*50 1 88J0 
93J0 95 

183 106 

172JD 17850 


612 612 
2763 2788 
<12 STB 
20 20 
50 50 

1040 16540 
471 JO 47*10 
7590 7595 
30 36X50 


Sydney 

Ancar 

ANZBktag 

BHP 

Bond 

Boated In* 

CBA 

tXAMgS 
Cotes Myer 
Coraakn 
at a 
CSR 

FasteSBmv 
Gas Pam Trust 
G10 Austaria 
Good moo FW 
(OAtShoM 
ten Fairfax 
Lend LcBe 
WowNICtass 
MlMHdte 
NriAcwBank 
NnJMufaal Hds 
NewsCWp 
NrenxsiChrMta 
North □? 
PocflfcDradop 
Ptoaeerlrdl 
Pahtroorisri 
OariiBAtators 
Sartos 
SavRKorp 


241*29 


WMC 
WesTfteld Trust 


Mexico 

Alfa A _ 
BonaaSB 
CwoaxCPO 
CStaC 

ErapAtodereo 

GgoamsAl 

GpoFtalriiuse 

KtocmMs 

TetertsaCPO 

TetMexL 


4145 

7540 

»J0 

1878 

4180 

070 


10470 

1*5B 


Baha8teec3631J2 
Ptsuteass 367674 

4090 41.15 4U5 
7J30 7 £50 1£70 
2970 29 JO 2940 
1043 1042 1082 
42JS 4160 4130 
4155 4SJ5 0J» 
2770 2890 2BJ8 
16290 16290 16*60 
101-60 10170 10590 
1442 1*52 14J8 


Milan 


MIB 


AflecsanABdc 

12510 

1210 

1Z100 

12540 


3300 

3170 

3170 

320 


4 NS 

4466 

4465 

4585 


1324 

l»5 

1299 

1317 


21300 

20600 

20750 

2140 

OadCsOeftmo 

2275 

2Z» 

2225 

2285 

Edtaon 

10550 

10165 

10165 

10554 

EN1 

070 

87» 

8728 

BW0 

Fkt 

Genonri Asric 

aww 

33100 

^8 

5310 

■man 

5X20 

33491 

(Ml 

16325 

1600 

15670 

16564 

IKA 

22W 

2165 

2170 

220 

l&ri 

6900 

700 

6670 

720 

605 

720 

670 

7515 


10648 

10540 

1Q594 

10938 

iWoerteritto 

1302 

1284 

IW 

1310 

^raoW 

2708 

3600 

2615 

3500 

2630 

3525 

2674 

3530 

RAS 

15900 

15600 

14610 

14929 

Rota Banco 

17998 

17615 

17655 

1/70 


. 1890 

1090 

uan 

now 

star 

7875 

7465 

7670 

790 


<710 

4480 

405 

4640 

Tire 

4810 

4715 

47M 

4844 


Sao Paulo 8w«ya w«c 77w.i8 


36590 37X00 
27850 27X08 
1090 T9O0C 
dS JO 90.10 
141 JD 14400 
14150 1090 
23*57 23990 
3*30 3SJ0 
2290 2144 


L17 

&I7 

X73 

*10 

■ r-i 

B04 

80/ 

tUQ 

18 

two 

177/ 

MSI 

143 

139 

143 

138 

2X0 

22 

22.10 

2234 

12 £7 

12J5 

1X54 

1X44 

1X54 

1237 

12.92 

1X92 

£03 

*99 

*02 

5 

*48 

6X1 

*46 

*58 

19.17 

19JS 

19.10 

1932 

*43 

*27 

*43 

429 

XS7 

2J3 

2-54 

XS4 

7A3 

148 

X4I 

330 

332 

136 

xa 

338 

1-62 

IJ9 

16? 

10 

U-44 

I3J5 

1X40 

12-55 

i& 

XB2 

27X5 

2J5 
22 JD 

232 

2X65 

336 

779 

7 JO 

730 

179 

US 

177 

177 

1*84 

1*66 

1*67 

1*71 

w 

174 

Ul 

136 

*71 

*66 

*68 

*68 

U 3 

U9 

Ml 

M3 

XB7 

X81 

X85 

185 

XI4 

XU 

*14 

309 

X82 

3*9 

XB2 

370 

*45 

*49 

*44 

*41 

X3I 

328 

228 

271 

*72 

*63 

471 

*63 

*37 

*23 

*31 

425 

X82 

X70 

X7B 

876 

BM 

XII 

XO 

*16 

141 

239 

2X1 

X40 

755 

735 

7JI 

734 

9.15 

907 

9.10 

9.10 

X2B 

330 

338 

X19 


The Trib Index 


CkrigpriM, 


•tan. i, tase - too. 

Mvri 

Change 

%ehanga 

yaartodata 
% change 
+12.75 

World Index 

148-69 

. +0-23 

+0.15 

Ragiaral tadsut 

Asia/Pi aeMb 

110.12 

+0.48 

+0.44 

-17.98 

Europe 

158.90 

-1.62 

-1.01 

+14.17 

N. America 

172.00 

+2-81 

+1.66 

+34.08 

S. America 

125.83 

-1-24 

-0-98 

+41.09 

iMhBeWhrkmi 

Capital goods 

178.93 

+1.89 

+1.08 

+3115 

Consumer goods 

164.48 

+056 

+0.34 

+19.13 

Energy 

175.77 

+0.49 

+0.28 

+29.80 

Finance 

1087)8 

+0.11 

+0.10 

-15.05 

Mscetaneous 

164.00 

-1.46 

-0.88 

+20.78 

Raw Materials 

175.74 

+0.41 

+0.23 

+23.94 

Service 

136.08 

-0.69 

-0.50 

+13W0 

UtiBOes 

140-20 

-1.92 

-1.35 

+10.27 


The ktomeSonal Herald Trtxjne Work! Stock tndax O free*® ne U.S. Ootor voiuaa ai 
200 IntunaSonallr Imtostaolo stocks >nm 35 axeMos. For mors Information, a tma 
booUal « mafabte by wrUng to 7|» Trfb tads* >07 Avenue Chartea de OouBo, 

82SP7 NeuBy Code* Frame. CcmpBod by Bloomberg Now®. 



14390 

23*08 

3*10 

2290 


Taipei 

OrtteyUblm 

OreoaHreaBk 
Chtoo TurmSfc 
QtoaDntetNri 
Odno Steel 
Href Bank 
Fermasa PtasSc 
HuaManBk 
IrtfCarumBk 
MmVtaPtasfcs 


Stock 

Mortal todoe 714X54 
PretaT 714*21 

173 

174 

174 

174 

167 

166 

165 

166 

«J< 

7V JO 

0 

79 JO 

87 JB 

87 

87 

87 

250 

25 

2*18 

7*0 

174 

in 

174 

172 

6X0 

67 JO 

68 

670 

14X0 

141 

Ul 

Ml 

<3 

BU0 

mso 

82 

640 

4X58 

64 

6X0 



5*50 

56 

56 

520 

SI JO 

51 JO 

380 

0 

0 

69 JO 

» 

6530 


106 

56 

52J0 

38.10 


Seoul 


! 66X56 


DoewceHesrey 
OaMafwi . 
KorenBPire 
Korea ExcbBk 
Korea MebTri 

LGS*rcfccn 
Pahang Inn St 
Samsung Efec 
SMnteKBadt 


100000 97000 
5710 5040 

16*08 1S80O 
27580 26900 
6990 6570 

S27000 510000 
2040 O 19700 
41500 40500 
0000 *5800 
10808 10508 


98000 77000 
5)00 5300 

164*0 76200 
27400 26980 
6620 6000 
635000 510000 
20100 79600 
41300 *0500 
47100 4550 
1050 1060 


Tokyo 

«S»* 

AsaniOwm 

AsridGtea 

BkTakreMim 


NBM 225:18X1538 
Prevtaasr 1778*57 


Conan 
Chiba Bank 
Qrubo Etac 
OiagatoEtac 


Singapore 



Oslo 


AkerA 

Bora cmn PrA 

cawStaBk 

DenimreUsBk 


HttUtaMA 


M aok H rko 

MrefeeskegA 

lliimlA 

QrtJoAsnA 

PetaGcofirC . 

SogaPtetmA 


165 

1*6J0 

2230 

JD 

% 


OBX tadoc 37X41 

Pirate* 571H 

163 

165 

165 

U5 

146 

147 

M 

w* 

220 

en 

ICI 

ICS 

10 

49 

49.50 

0 

304 

385 

30 

359 3SL5B 

563 



704 0 7048 
1X50 1390 
16 1630 
*77 *73 

1X50 1X90 
535 £95 

*85 7 

1340 1190 
277 290 

£90 *10 

338 X 0 
11.10 1130 
*10 *12 
1X40 1830 
11.10 1130 
540 545 

790 790 

1X20 1370 
840 845 

2470 g 
342 XJB 
336 XS 
*82 492 

X42 342 

1.1f 1.18 
1630 1*30 
*38 *40 


U0 

7QJB 

1X58 

16 

079 

1X5B 

£95 

7.10 

1X69 

291 

SX 

332 

11.10 

*10 

1X40 

11.10 

545 

795 

1330 

X45 

2490 

164 

370 

*98 

1*4 

1.19 

1430 

*30 


DriteMKang 
Mm Bank 
Mw House 


Frewc 
’ IBook 
FutPheM 


Honda Mater 

IBJ 

IHI 

rsaow 

n»Yriode 

JAL 

JlBtO 

Kajtam 

KansaiBK 

Kao 

town Steel 
KDO 

sssw 


1050 991 

775 722 

780 741 

642 627 

1060 1040 

1760 1670 

625 617 

2128 2078 

2650 257D 
710 692 

2280 2230 

2190 2140 

937 605 

1260 1170 

485 475 

1420 1380 

946 990 

230 2470 

3390 330 

120 1170 

3680 3530 

1340 1220 

1070 1 050 

3340 3260 

1650 1490 

480 442 

540 533 

5780 5470 

510 492 

3318 3230 

73S 7BS 
2260 220 
1270 1230 

285 278 

750 7210 

734 718 

100 101Q 

27S 207 


High 

LM 

aw 

NW 

380 

360 

370 

360 

140 

140 

1430 

140 

771 

153 

70 

766 

75» 

7500 

7SSC 

750 

222 

210 

222 

219 

698 

Ml 

695 

687 

541 

50 

S«1 

528 

570 

as 

649 

636 

301 

292 

799 

2V2 

469 

460 

463 

468 

733 

712 

733 

/» 

249 

241 

243 

231 

1548 

1510 

1540 

1510 

8780 

B630O 

8760a 

8730a 

60 

661 

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rNTERNATICgiALHEHALP TMBUWE, 




Wednesday's 4 p on. Close 

Nationwide prtcas rat reflecSng late trades efeewiiem. 
The Assadaul Pass. 




INTERNATIONAL HERALD TRIBUNE, THUBSDAL JANUARY 30, 1997 















































ASIA7PACIFIC 


Seoul Opens Inquiry 
into Hanbo Creditors 


Cmpdrd hr Our Sli£ Fnm DhfXBthrj 

' SEOUL — South Korean author- 
ities opened a special inquiry Wed- 
nesday into the main creditor banks 
(bf the debt-stricken Hanbo Group 
and questioned the conglomerate's 
top executives over a loan scandal. 

s A state reguJaioiy agency, the Of- 
fice of Bank Supervision, said the 
inquiry into four leading commercial 
banks and a stare-run bank would 
focus an whether they followed reg- 
ulations in offering huge loans to 
Hanbo Steel and General Construe - 
Co_ the flagship of South 
Korea's \4th largest conglomerate. 

In addition, the agency -warned 
Xbe presidents of banks that lent 
jnoney to Hanbo thai they could be 
asked to resign. 

' The warning, which could lead to 
-a massive shake-up within Korean 
banks, came as Parliament sched- 
uled a special debate on the Hanbo 
collapse and as a specially formed 
prosecution team continued to ques- 
tion more than 30 com pan y and 
bank executives. 

- Opposition parties, c allin g the 
Joans the biggest financial s candal 
in the country’s history, have ac- 
cused the government of peddling 
influence to pressure creditor tanks 
into offering loans to Hanbo without 
1 adequate collateral. 

■ State prosecutors said they had 
questioned six Hanbo officials on 
how the foundering steelmaker se- 
cured billions of dollars to finance 
construction of a steel mill. 

Hanbo Steel. South Korea’s 
second largest steelmaker, filed for 
court receivershipTuesday after pil- 
ing up about five trillion won ($5.8 
billion) of loans from 61 banks and 
financial institutions. 

On Wednesday, Hanbo applied 
for court receivership for two more 
troubled subsidiaries, Hanbo Energy 


and Sang-A Pharmaceutical Co. 

The regulatory agency said the 
five banks being investigated were 
Korea First Bank. Cho Hung Bank, 
Korea Exchange Bank, SeoulBank 
and the state-run Korea Develop- 
ment B ank. 

“A team comprising seven in- 
vestigators has been sent to each of 
the five banks," a spokesman for the 
office said. “If a serious violation is 
found, severe punishment would be 
slapped on the h anks and their man- 
agement." 

Standard & Poor’s Corp. said it 
placed Korea First Bank, which has 
the largest exposure to Hanbo, with 
loans totaling 1 .08 trillion woo, on a 
watch list to reflect concerns over its 
deteriorating asset quality. 

Korea First Bank, Cho Hung, 
Korea Exchange and Korea Devel- 
opment Bank lent $3.4 billion to 
Hanbo Steel, which bad equity of 
just $236 million. 

A senior prosecutor, Choi Byung 
Koog. said more than 30 prosecutors 
sifted through Hanbo documents 
seized by the police from offices of 
Hanbo Steel and its 15 affiliates. 

He said he hoped the prosecution 
investigation would aid within two 
weeks, although it could last longer. 

President Kim Young Sam 
ordered an investigation Monday in- 
to the Hanbo case, which has put his 
anti -corruption drive on the line. 
After coming to power in 1993 on an 
anti-graft ticket, Mr. Kim promised 
to sever corrupt alliance between 
politics and business. 

Mr. Kim sent two former pres- 
idents, Chun Doo Hwan and Roh 
Tae Woo, to trial for accepting huge 
sums from businessmen in ex- 
change for favors. Mr. Chun is now 
serving a life sentence; Mr. Roh, a 
17-year jail term. 

(Reuters, Bloomberg, AFP ) 


An Insurance Boom for India? 

Foreign Firms Hope for End to State Monopoly 


insurance industry. 


Bloomberg News 

BOMBAY — Like many Indians. Dattatray 
Bhanap hopes the government will end its 24-year- 
old insurance monopoly next month. 

Mr. Bhanap. 65 and a civil engineer, is angry that 
New India Assurance, a unit of General Insurance 
Coro., a state-run company, refused to refund him 
3,000 rupees ($83.63) for outpatient treatment for a 
thyroid condition. He had 
not checked the small prim 
that said his policy only 
covered hospitalization. 

“They put the terms in 
such a way that they can 
wriggle out of paying,” Mr. 

Bhanap said. “They don’t 
follow the spirit of insurance. 

Being a government com- 
pany they want to find a reason to reject you." 

Mr. Bhanap and others say that foreign altern- 
atives to General Insurance and its sister company. 
Life Insurance Corp.. would provide quicker, easier 
and more useful insurance. 

Foreign insurance companies, attracted by a $5.7 
billion market that grew 20 percent last year, aim to 
do just that. With China still reluctant to allow many 
foreign companies to sell insurance to the masses. 
India's population of 950 million is shaping up as the 
industry’s next growth market. 

India’s coalition government is considering ending 
its monopoly in the expectation that foreign insurers 
would bring much-needed investment to its stock 
markets and infrastructure. 

“You've got to regard it as a gigantic event,’ ’ said 
Derek Stott, the India representative of Prudential 
Corp., Britain's largest life insurer. “The numbers 
involved are enormous. If the economy develops, there 
is substantial potential in the medium to long term." 

The government said last year it would announce 
reforms before next month's budget was unveiled, 
although foreign investors are accustomed to the 


India, with a population of 
950 million, could be the next 
growth market for the 


coalition delaying controversial decisions because it 
cannot reach a consensus. 

Moves to raise gasoline prices and allow foreign 
airlines to fly domestic routes have been repeatedly 
postponed. 

Few, however, predict an immediate bonanza. 

Prudential expects the life-insurance market to 
triple if the government ends its monopoly. About 
one in 16 Indians has a 
policy, compared with one- 
fifth of people in other de- 
veloping Asian countries. 

Zurich Life Insurance Co., 
Switzerland’s biggest in- 
surer, expects nonlife oper- 
ations to be profitable within 
four years and life insurance, 
within 10 years. 

Prudential was among more than 100 insurers 
thrown out of India in 1973 when the government 
nationalized the industry. It has applied to open a 
representative office and hopes it wtil be allowed to 
sell policies again this year. 

If the government proceeds with liberalization, 
insurers expect it to award between six and 12 
general-insurance licenses and a comparable number 
of life-insurance licenses. 

Many British companies are making plans for 
India, as many of them were operating in the former 
British colony for more than a century before the 
industry was nationalized. 

Royal & Sun Alliance Holdings PLC, which had 
20 percent of the market among foreign insurers at 
the time of nationalization, has chosen a local part- 
ner, a manufacturer called DCM Shriram. because 
the government is unlikely to allow wholly owned 
foreign units in such a politically sensitive industry. 

Many insurers say they need a local partner anyway, 
for its local knowledge and, in some cases, political 
power. The families that control India's largest compa- 
nies often have close links to senior politicians. 


| Investor’s Asia | 

Hong Kong 
Hang Seng 

Singapore Tokyo 

Straits Times Nikkei 225 


15000 

• 2300 - — 

- 22000 


14000 — - 

A 2240 

/Azioooyy^V 

Sl ' 

13000 - -"J 

V^2180 *L- 

fir 20000- - - 

A 





*1 

iiooor^-. _ 

- - 2060 — iy^ 

18000 

JL 

10000 jpg QN 

1998 

’D'j ' S ON D J 17M0 A ’ SON 

1997 1996 1997 1996 

D J 1 
1997 

Exchange 

index 

Wednesday Prev. % 

Close Close Change 

Hong Kong 

Hang Seng 

13,285.43 

13,403.29 

-0.08 

Singapore 

Straits Times 

2.770.12 

2226.30 

-0.28 

Sydney 

AH Ordinaries 

2,41420 

2,40420 

+0.42 

Tokyo 

NBOtei 225 

16,335.30 

17,79657 +3.03] 

Kuala Lumpur Composite 

1,212-55 

1,228.89 

-1.33 

Bangkok 

SET 

81439 

845,63 

-3.69 

Seoul 

Composite index 

663.56 

662,85 

+0.11 

Taipei 

Stock Market Index 7,14854 

7.146.21 

+O.OS 

Manila 

PSE • 

3,373,61 

3,341.99 

+0.95 

Jakarta • 

Composite Index 

691.34 

689.9? 

40.20 

Wellington 

NZSE-40 

2,392.60 

2.378.47 

+0.59 

Bombay 

Sensitive Index 

3,525.97 

3,60420 

-2.17 


Source: TeteJojrs 


liHrnuiKiul HcrjU TriNuv 


Very briefly: 


Accord on China Light Pulls Down CITIC 


Suharto Firm Seeks Indocopper 

V Bloomberg News 

JAKARTA — An investment company controlled by President Suharto 
said Wednesday that it had bid $31 1 million to take control of PT Indocopper 
Investiuna. which owns a piece of die world's largest copper and gold mine. 
The bid sent shares of PT Bakrie & Brothers, a diversified company that is 
one of two large shareholders in Indocopper, up 25 rupiah, or 2 . 1 percent, to 
1 .200 rupiah (51 U.S. cents) on speculation it would accept die offer. 

“Bakrie is selling." said Mahmoud Gaemmaghami, head of Research at 
WestDeutsche Landesbank in Singapore. ''It's a good price, and it's going to 
leave the co mp any with die room to invest in its existing promising 
businesses." PT Nusantara Ampera Bftakti (Nusamba) said It had offered 
68.988 rupiah each for 10.8 million shares, or 50 percent, of Indocopper. 
Indocopper owns 936 percent of PT Freeport Indonesia, which owns and 
operates the Grasberg mine in the Indonesian province of Irian Jaya. 


Bloomberg News 

HONG KONG — CITIC Pacific Ltd. has just shown 
that the government contacts that come with being 
China’s largest overseas company pay bigger political 
th an eco nomic dividends. 

OTIC paid 16.25 billion Hong Kong dollars ($2.1 
billion) Wednesday for 20 percent of China Light & 
Power Co., adding Hoag Kong's second-worst-perform- 
in g 199 6 benchmark stock to its lackluster portfolio. 

CHIC'S shareholders were not impressed. 

“OTIC is increasingly becoming an investment hold- 
ing company — holding the three lowest-growth compa- 
nies in Hong Kong," said Andrew Look of Pru dentia l 
Portfolio Managers Asia, which has been selling CITIC 
shares from the $2 billion of. assets it manages. 

The stock feD to a two-month low as investors bet die 
company was losing its cachet as a “red-chip" — die 
common designation for Chinese investment companies 
in Hong Kong. These companies were the hottest Hong 
Kong stocks last year, rising. 933 percent as a group, as 


their parent companies sold them assets at favorable 
prices and guided rich contracts to them. CITIC's shares 
closed at 3830 dolla rs, down 1. 

Returns on CITIC's investments in Hong Kong's 
largest telephone company and airline have under- 
performed those from other benchmark stocks as CITIC 
brought little new business to a ny of the companies. 
Critics of the strategy say CITIC is being used as a 
vehicle for China to control strategic industries in Hong 
Kong no matter how meager the financial rewar d- 

“This brings back the whole argument of CITIC 
doing as Beijing tells it to do instead of what makes 
commercial sense," said Steven Thompson, director of 
research at Nikko Securities Ltd. 

“It looks more like a utility holding company now 
than a red chip," said Ambrose Chang, chief in- 
vestment officer at Dai wa International Capital Man- 
agement Ltd., which is also selling CITIC from its $1 .2 
billion holdings in Asia. “There must be a political 
reason behind it." 


• Samsung Electronics Co., the world's biggest computer- 
chip producer, denied speculation that it would join with other 
South Korean semiconductor manufacturers to cut production 
to tiy to raise prices. 

• Japan's “misguided policies" will cause a slowdown in the 
economic recovery this year, said Yoshio Suzuki, the eco- 
nomic policymaker tor the opposition New Frontier Party. 

• United Parcel Serv ice of America Inc., a leading package- 
delivery service, plans to transfer its Asian hub to Manila from 
Singapore to cut costs. 

• Taiwan’s speculative shares tumbled after it was disclosed 
that prosecutors had detained Tan Ching-lien. the host of a 
television show that provided stock-market advice, in a stock- 
manipulation inquiry. The broad Taipei market was calm, and 
analysts called that a sign of the market's maturity. 

• PT Telekomunikasi Indonesia, the state-owned telecom- 
munications firm, will invest about 4.3 trillion rupiah ($1.8 
billion) on upgrading services in the year beginning April 1. 

D/ivmh'n;. <\P. Reuters, AFP 


San Miguel’s Profit Drops 

Bloomberg News 

MANILA — San Miguel Corp.. the Philippines' largest 
food and beverage maker, said Wednesday that net income, 
excluding one-time gains, dropped to 5.26 billion pesos 
($2003 million) in 1996, from 5.38 billion pesos in 1995. 

The company's pretax profit, however, fell 2.2 percent in 
1996 as a fourth-quarter surge in earnings failed to offset high 
raw material prices, rising expansion costs and a slump in beer 
sales. 

The results were in line with analysts’ expectations. San 
Miguel's earnings are among the most closely watched in the 
Philippines because the company’s sales are viewed as a 
barometer for consumer spending. It generates about 4 percent 
of the country's economic outpuL 


■ j !■ 




INFLATION: U.S. Offers Bonds That Keep Up With Cost of Living 


Continued from Page 11 

the Wharton School of the University of 
Pennsylvania, has declared himself 
“fjjtar enthusiastic about inflation-in- 
dexed bonds." Mr. Siege), best known 
as the author of "Stocks for the Long 
Run," a 1994 book arguing that stocks 
were the best long-term investment, 
notes that a major problem with bonds in 
recent decades has been their exposure 
to inflation, which can demolish the 
principal of normal bonds. 

The new bonds will work tike this: 

While they will be sold in initial 
amounts of $1 .000, as with other Treas- 
ury notes and bonds, that principal 
amount will be adjusted daily .based on 
changes in the consumer price index 
three" months earlier. The increases for 
each day of the month, when added 
together, wtil be enough to offset the 
jnonthly rise in prices. 

II the bond carries a 33 percent 
coupon rate — and that will be de- 
termined in Tuesday's auction — every 
Six months it will pay half that a mount , 
or 1.75 percent, on the then current 
principal value. So, assuming that con- 
sumer prices continue rising, every six 
months the coupon payment will be a 
tittle higher. At the end of 10 years, the 
buyer will get back the inflated prin- 


cipal. To the extent the consumer price 
index is an accurate gauge of inflation, 
the money returned wflj be worth just as 
much as the $1 ,000 invested in 1997. 

Since the interest that was paid also 
rose with inflation, the investor will have 
received — pretax — a real, inflation- 
adjusted return of the amount promised 
Wien the bond was sold. “For the first 
time," Treasury Secretary Robert Rubin 
said “the United Stales is offering in- 
vestors protection from inflation.” 

Until Wednesday, about the only op- 
tion for investors truly worried about 
inflation was buying short-term secu- 
rities like Treasury bills, whose rates 
tend to rise when inflation fears grow. 
But their rates are in effect for only a few 
months and they provide a lower yield 
than would be expected from longer- 
term, inflation-indexed securities. 

At Wednesday's auction, the betting 
is that most of the buying will be from 
Wall Street and from two types of in- 
stitutional investors: pension funds, 
whose ultimate obligation — payments 
to retirees — is closely tied to inflation, 
and endowments, which seek to pre- 
serve their principal while spending the 
income. 

Individuals who wanted to buy at 
Wednesday’s auction could have done 
so through brokers, or directly from any 


Federal Reserve Bank, until noon East- 
ern standard time Wednesday. But the 
expectation is that relatively little of the 
issue will go to individuals. 

If so, that may be too bad. It appears 
that the auction will effectively be char- 
ging what amounts to a very small premi- 
um for giving investors insurance against 
inflation, said Gerald Lucas, a govern- 
ment bond strategist for Merrill Lynch. 

There are three likely reasons for low 
individual demand. The first is unfa- 
miliarity with the product. The second is 
that inflation is not very scary right now, 
and the final one is the tax treatment of 
the bonds. 

An investor must pay tax each year 
not just on the interest that has been 
received, but on the rise in the principal 
value, even though the cash from that 
increase wifl not come in for years. As a 
result, the bonds are better suited for tax- 
deferred retirement accounts. 

For now, few investors can put such 
securities into 401(k) retirement ac- 
counts, which normally restrict investor 
options to a menu that changes infre- 
quently. But both Dreyfus and the Ben- 
ham group of American Century have 
announced plans for mutual funds that 
will buy these securities, so they will 
become available for ai least some such 
accounts. 



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INTERNATIONAL herald 


TRIBUNE, SATURPAYrSUNDAS^ FEBRUARY 1-2,1997 



Sports 


PAGE 18 


THURSDAY, JANUARY'S®, 



World Roundup 



Dae taomaVAFP 

THArs A TOUGH ONE — 
Mike Ditka answering report- 
ere’ questions after he was 
named coach of the Saints. 


England for Celtic? 


soccer The Scottish soccer gi- 
ant Glasgow Celtic confirmed 
Wednesday that it had srudied the 
possibility of joining the English 
Premier League, but the chances of 
such a move appear remote. 

A report in a Glasgow newspaper 
suggested that Celtic hod con- 
sidered buying up an Engl ish 
Premier League club, such as 
Wimbledon, and taking its place, 
but remaining based in Glasgow. 

Celtic's owner, Fergus McCann, 
confirmed that the move had been 
discussed, but said a switch to some 
kind of European league would be 
more likely. 

“Midweek European football is 
certainly on the way. and that is 
something Celtic very much want 
to be part of." said McCann, who 
rescued the club from bankruptcy 
three years ago. (AP) 


Tax Trouble in Dallas 


football The Internal Revenue 
Service claims that the Dallas Cow- 
boys' owner, Jeny Jones, and his 
wife owe $8 j million in back taxes 
and penalties from 1992, the Fort 
Worth Star-Telegram reported 
Wednesday. The paper said Jones 
and his wife. Gene, were contesting 
the matter in U.S. Tax Court (AP) 


An Arc Over the World 


basketball Plans to extend the 
three-point scoring arc have been 
drawn up by the world technical 
commission of FIBA, international 
basketball’s governing body. 

The commission wants the line 
pushed out 45 centimeters, to 6.70 
meters from 6.25, to come in line 
with the NBA in the United Stares, a 
FIBA spokesman said Wednesday. 
The proposal, making it slightly 
harder to score three-pointers, will 
now be submitted to FIBA's sec- 
retary -general. (Reuters) 


Still Streaking in China 


soccer The United States' los- 
ing streak stretched to four, its 
longest since 1994. when the 
Americans lost to China. 2-1. in an 
exhibition match in Kunming. The 
Americans lost to Peru, Mexico and 
Denmark in the U.S. Cup ’97 tour- 
nament this month. (Reuters) 


Alphand Edges Strobl 
In Super-Giant Slalon 


The Associated Press 

LAAX. Switzerland — After three 
downhill victories this season, Luc Al- 
:and of France claimed the first World 
up super-giant slalom victory of his 
skiing career Wednesday. 




In near-perfect conditions, AJphand, 
the World Cup downhill champion. 


blazed down the sunny course in one 
minute 25.23 seconds to record his 10th 
career victory. 

He edged Josef Strobl of Austria, who 
was second in 1:25.35. Peter RunggaJ- 
dier of Italy climbed the podium for the 
first time this season, taking third in 
1:25.63. 

“It’s great my first super-G win,” 
said the 31 -year-old Alphand, a winner 
in Kitzbuehel. Austria, last weekend. 

Strobl, who bad already qualified for 
the downhill team at the world cham- 


preciating familiar surroundings. After 
excursions to die Far East and southern 
Spain, the Alpine championships are 
returning lo the Alps — to the enormous 
relief of many competitors. 

Morioka in Japan in 1993 was rav- 
aged by wind and bad weather while the 
Sierra Nevada event had to be moved 
from 1995 to 1996 for lack of snow. 

The exotic experiments over, the 
sport is once again embracing its heart- 
land in the last big Alpine skiing event in 
Europe in the 20th century. 


In short. Alpine skiing is coming 
[ founded 


home — in a modernistic resort i 
in tbe 1930s by die Agnelli family on a 
lonely plateau 2.000 meters (6,600 feet) 
up in the mountains. 

If Sestriere. without the typical Alpine 
wooden chalets or historic center 
snuggled around a tail-spired church. 


pi on ships that begin Monday in Ses- . lacks the traditional charm, it has plenty 


triere, Italy, said he was worried before 
tbe race because he had not yet qualified 
for the super-G squad at the worlds. 
Already leading the downhill stand- 


ings. Alphand has also shot to the top of 


both the super-G and overall World cup 
rankings. He leads the super-G stand- 
ings with 1 32 points, while Hans Knaus, 
who won the other race in Val d’Isere. 
France, earlier in the season sits second 
with 1 1 1. 

Alphand, with 737 points overall, 
took the lead away from Andre Kjetil 
Aamodt of Norway, who slipped to 
second with 717. Alphand’s downhill 
arch-rival, Kristian Ghedina of Italy, is 
third with 649. 


■ Alpine Skiing Back in the Alps 

Alberto Tomba and Deborah Com- 
pagnoni. like many Alpine skiers and 
most Italians, believe there is no place 
like home. 

The two world and Olympic cham- 
pions will be hoping to prove the point 
when the two-week Alpine world cham- 
pionships start on Italian snow Monday. 

Their names alone will pull die spec- 
tators to Sestriere, where Italy hopes 
home advantage will help it repeat the 
feat of 1996, when Italians won more 
golds than any other country. 

They will not be the only ones ap- 


of what is needed most: snow. It also has 
technology, with trails bathed by flood- 
lights ready for night slaloms. 

Athletes from a record 58 countries 
will compete for 10 gold medals. 

In an ideal world for the host nation 
— and one many Italians believe to be 
entirely possible — Italian skiers will 
improve on the four golds they won in 
1996. 

However the Austrians, whose skiers 
captured just one gold in Sierra Nevada, 
and the Swiss, who won nothing, are 
expected to prove far stiffer opponents 
this time. 

The Austrian men have been impress- 
ive in all events this season, with 
Thomas Sykora winning five of the sev- 
en slaloms staged on the World Cup 
circuit so far. 

Femilla Wiberg of Sweden, the win- 
ner of two golds in Sierra Nevada, leads 
die women’s overall World Cup while 
the Norwegian men, so powerful in 
Morioka, remain a threat The Swiss are 
strong in men's giant slalom while their 
star women's downhiller, Heidi Zur- 
briggen, is in top form. 

Germany’s Olympic downhill cham- 
pion, Katja Seizinger, is another 
danger. 

The Italians look strong in women’s 
events after taking eight races this sea- 



K<»ll l 
Sri * l{c 



. i» jf n ' 

Soccer Players, #- v! 


In Spain Fear 
ters — 



a: 


And Future 


- 


The Associated Press 
MADRID — Spanish soccer plaj 


in a backlash against the rising hum f 


of foreigners playing in the country, air 
wanting they might go on strike if things 
do not change. 

Spain has more foreigners in its top. 
league than any other country in Europe^ 
and Spanish players say that is threat- 
ening their future. 


r 


The so-called Bosman ruling almost 
14 months ago, which forced the top 


oq 


Apwlins-ltair 

Alphand nearing a turn in his victorious super-giant slalom Wednesday. 


son and six since the New Year. 

Compagnoni, the giant slalom cham- 
pion in Siena Nevada, has won four. 
Isolde Kostner, the world super-G 
champion, is peaking at just the right 
point with back-to-back downhill and 
super-G wins in Cortina d'Ampezzo 
this month. 

There will be a new women's down- 
hill champion because the 1996 winner, 
Picabo Street of the United States, is 
injured. 

The Italian men. meanwhile, found a 
new hero in Ghedina, now Italy's most 
successful downhiller ever. 

Ghedina is one of three men — the 
other two being Alphand and Strobl — 
to dominate the downhill World Cup 
and is a leading contender for the 
showpiece event. 

But Tomba. triple Olympic gold 
medalist and reigning giant and skuom 


world champion, will be the star at- 
traction at the site of his first World Cup 
victory in 1987. 

His form this season has alarmed his 
fans, especially after the 30-year-old 
skier was injured before tbe season. 

“La Bomba,” who considered re- 
tiring last year but stayed on because of 
Sestriere. has since completed less than 
a handful of races but two were second- 
place finishes. Tins may or may not be 
his last major skiing appearance — it 
depends largely on how he performs in 
Sestriere. 

Hie expectations are huge in Italy 
and, with thousands expected to cram 
die resort to see their heroes compete for 
the first time in a major competition at 
home, the enormous pressure could 
work against them. 

* ‘ It's going to be a madhouse,' ’ Kost- 
ner said. 


NFL Poised to Rule on Parcells 9 Deal With Patriots 


By Gerald Eskenazi 

Afar York Times Service 


NEW YORK — Commissioner Paul 
Tagliabue was to rule Wednesday 
whether BUI Parcells can simply walk 
away from the New England Patriots to 
coach another National Football League 
team next season, or whether die Patriots 
retain exclusive rights to him for 1997. 

In a one-hour conference call Tues- 
day that stretched from Los Angeles to 
Boston. Tagliabue listened to Parcells, 
the Patriots’ owner Bob Kraft and their 
lawyers state positions in a dispute that 
will clearly end with Parcells' calling it 
quits in New England. 

What comes next isn’t clear yet, al- 
though one way or another, Parcells is 
expected to end up as coach and general 
manager of die Jets. 

If Tagliabue rules for the Patriots, the 
next issue to be confronted is what com- 
pensation the Patriots will demand to let 
Parcells go. Will money be enough, or 
will the Patriots insist that whatever 
team signs Parcells reward New Eng- 
land with one or more draft picks? 

Robert Fraley. Parcells’ lawyer, sug- 
gested Tuesday that if Tagliabue ruled for 


the Patriots, Parcells would be prepared 
to buy his way out of New England. 

“Bill will have to pay a lot of money 
to be rid of the final year,’’ he said. 

Of course, Kraft may be less inter- 
ested in money than the fact that the Jets 
have the No. 1 pick in the 1997 draft. 
But Tagliabue, in his ruling Wednesday, 
was not addressing compensation is- 
sues. At the request of both sides, he was 
first trying to decide who is right about 
Parcells' amended contract: the coach 
or the owner. 

Parcells contends that the contract, 
which he originally signed in 1993, en- 
titles him to leave the Patriots for an- 
other team. Kraft says that an amend- 
ment written into the contract a year 
ago, which lopped off the last year of 
Parcells’ five-year deal, gave the Pat- 
riots exclusive rights to Parcells if he 
wanted to coach anywhere in 1997. 

The Jets, who have still not inter- 
viewed anyone for their vacant head- 
coaching job, would presumably step in 
to begin negotiations if Parcells is free, 
or would talk to Kraft about what he 
wanted if he retained Parcells' rights. 

Ul » 1 1 ail rnirl ha Iiiam Id Tn 


would not seek any type of legal re- 
dress. 

Speaking from Boston before the call 
with Tagliabue. who was in California 
en route to the Pro Bowl in Hawaii, Kraft 
painted a picture of a pained, ailing 
Parcells at the end of the disappointing 
1995 season, a man who wanted out of 
the final year of his contract. 

“He was tired and worn out.'' Kraft 
said. “He came to me after the Indy 
game and said he didn’t know if he 
wanted to coach. He said he was ex- 
hausted and drained and that the kids 
these days were different.” 


Kraft went on to reiterate his con- 
tention that he then allowed Parcells out 
of that last year, but that he was to coach 
in 1996. The Patriots went on to an 11-5 
record this season, captured the Amer- 
ican Football Conference East behind 
an energized Parcells and made it to the 
Super Bowl before falling to the Green 
Bay Packers last Sunday. 

“I’d like to have him coach next 
season.” Kraft said. “When I bought 
the team the payroll was $20 million and 
it was the lowest in the league. 1 gave 
Bill whatever he wanted. I’ve spent 
$140 million in payroll.” 


leagues in Europe to scrap 
players from the 15-member E __ 

Union, is not the issue. Spain’s unique 
problem is the huge increase in thd 
number of non-EU players, many from 
Latin America and Eastern Europe, who 
often command lower salaries. 1 
According to figures from the Span- 
ish Footballers Association, the Spanish 
first division has 1 15 non-EU plaj^is 
compared with 43 in Italy, 29 in Eng- 
land and 16 in Germany. Portugal also 
has about 100 non-EU players. 

“What the players are saying is ‘this 
can’t go on,’ ” said the players’ as; 
sedation chief. Gerardo Gonzalez 
Movilla. He has not called a strike yet, 
but he did not rule it out 
“We all want to see the likes of 
Ronaldo and Giovanni here,” said AIM 
onso Perez, the Spanish international 
and Beds forward, referring to FC Bar- 
celona’s two Brazilian aces. 

Perez's Nigerian teammate at Beds-. 
Finidi George, had a different view. 

“If Beds signed me instead of a oaj 
tional. that’s for the club to decide, ■ 
George said. “Without criticizing any- 
body. 1 think I’m better than many na- 
tionals.” ~ W- 

When EU and non-EU players are 
counted together, the top Spanish 
league has 140 foreigners o(it of a total 
of 4S4 players, or 28.9- percent. Ger- 
many and Portugal are next at 27.3 
percent, followed by Italy at 18.7_per- 
cent, France at 1 8.4 percent and Eng- 
land at 12.6 percent. 

Despite stars like Ronaldo — FIFA's 
player of the year — Movilla said many' 
foreigners added nothing to the league.. 
He stud the association planned ialks with 
the league, the Spanish Soccer Federation 
and the government's sports council If 
all else fails. Movilla said, a strike was* 
possible. . 

“We had an agreement in principle, 
with the Spanish Soccer Federation last- 
year under which only three non-EU- 
players would be allowed this year, two 
next year and one the following year,"- 
MoviUasaid. He said first division clute^ 
vetoed the plan. fl- > 

“The result is dozens of good Span- 
ish players are not playing for their, 
elute, including several future inter-' 
national team stars such as Barcelona's’ 
Tvan de La Pena." MoviUa said.. 
“Thai’s going to ruin the players and* 
consequently the national side.” ; 




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-512 

9 

lft Meamte— Orlando 42 CStreng 8). 

Oricndo 

19 

2D 

.487 

10 

Washington 57 (Webbw Murasan 14). 

New Jaraay 

11 

30 

768 

19 

Assists— Oriando 14 (Hardaway Shaw 5). 

Boston 

9 

31 

-22S 

2016 

Washington 25 (Strickland 8). 

PhOadelphlo 

9 33 

BormALomstoti 

714 

2116 

Cmtotte 18 33 24 23-98 

IndSeoa 27 23 22 25-97 

Ctoargo 

38 

5 

484 



O Rice 9-20 99 3G DtVOC 6-15 2-3 la k 

Detratt 

31 

11 

738 

6V, 

Miner B-14 8-8 26. A.Oavt> 8-11 2-5 18. 

AHanto 

29 

12 

707 

8 

Rebownls— Otarlotto 49 (Divac 1 1). Interna 

cnariotte 

25 

18 

-581 

13 

42 (D.DavIs 8). Assists— Orariolte 23 CSmrth 

Ctovebnd 

24 

78 

J7I 

73« 

7), Indiana 22 (MDter5). 

MDwmifcw 

21 

23 

488 

17 

Detroit 24 24 26 19—93 

Indiana 

19 

22 

•463 

18 

M—atotee 2D 22 25 16-84 

Taranto 

15 

27 

J57 

22V6 

D: Hill 10-20 2-2 22, McMe 5-7 2-2 1 3; M: 

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Baker 7-15 4-5 IK. Rofataan 6-17 36 

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liRehourjds— Oetrofl 41 (TTwipe 7), 


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Pet 

GB 

MBwatteee 48 (Baker 9). Asnats— DetreB IS 

Houston 

32 

11 

744 


(Durmrrs 8), Mitwoutcee 17 (Softer 7). 

Utah 

30 

13 

JS98 

' 2 

SacraraeatB 21 25 16 29— 91 

Minnesota 

19 

24 

Ml 

13 

MlnePTOhl 20 34 » 14—88 

Detects 

14 

27 

741 

17 

S: RWunonrt 10-19 5-5 2& Potynlce 8-180- 

Denver 

13 

31 

JX 

19(9 

2 16 M: GogSofta 11-21 2-2 75. CarvaS 8-16 

San Antonio 

11 

29 

775 

1916 

0-0 16. Reheepde— topametOo 55 (Smith 

Vancouver 

8 38 

PACttoCDivrsiaN 

.174 

25% 

14). Mtonesota 42 (GugBotto to. 
Assists Scanrueutu 20 (RftMnond 9), 

LA-Lnfcen 

32 

12 

727 



Mtonesota 24 (Porter 10X. 

Seaitte 

30 

13 

-698 

1% 

LA. Lateen 18 29 29 35— 1B2 

Portland 

25 

19 

-SdB 

7 

Data 23 18 12 30— 83 

Soaumenia 

19 

25 

432 

13 

LJL: (71100113-235-1031. VOn Hsel 8-130- 

Golden State 

17 

25 

405 

14 

0 197 D: MasbbUra 9-16 79 26, Jodaon 3-10 

LA.Crtppere 

16 

ZS 

790 

14% 

46 10. Rtemewts — Lot Angeles 50 (Otteoi 

PtMentx 

15 

28 

749 

16% 

10), Data 50 (MBer 12). AssWs— Los 

msMorsH 

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Portland 

25 

14 

28 17— 84 

6). 

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35 

38 

21 26-128 

Destrer 23 » 22 26- 99 


25 31 29 as— m 
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A: Bioytoek 13-18 1-2 34. Lnettner 7-102-2 
16. LAJ Martin 6-95-52(1 Sealy 6-15 1-1 15. 
Reboaads— Attanto 43 (Mutamba 9), Los 
Angeles 50 (Wrt^rt 9). Assteto-Altortn 23 
(Smith, Btayta* 5), Los Angeles 19 (Rogen, 
Marlin 4). 


SUNDAY, HSIUUinr f, M CLEVELAND 
ALL-6TAF TEAMS 
EASTERN CO W E M W CE 


Player ■ 

PoslBon 

Team 

Baker 

forward 

MBwoukee 

Brandon 

. guard 

Cleveland 

e-Ewfng 

center 

New York 

x-Hardaway 

guard 

Oriando 

Hardaway 

guard 

Miami 

k-HB 

forward 

Detroit 

s- Jordan 

guard 

Chicago 

Loettnw 

forward 

Atianto 

Mourning 

center 

Miami 

Mutomho 

center 

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forward 

Chicago 

race 

fonvoirifarard Chariatte 

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forwent 

Seattle 

Malone 

forward 

Utah 

x-Otatkrwan 

center 

Houston 

Otseai 

cantor 

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x- Peyton 

guard 

Seaitte 

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Golden State 

x-Stockton 

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10 rrtKflen. Otto) Third Period: P-NMmatf 
2 tundras. Coriey) <pp).4, Phoenb, Cortunri 
4 [Drake, Shannon) 5, P-Ltodros 14 CZUDrt* 
Coffey) Shots oa goal: Phoenix 7-4-7—18. p- 

11- 23-21—55. Goatee Phoenix KhotdbuRp. 
P-5now. 

Montreal 0 1 O-l 

Florida 1 3 1-6 

HrsT Period: F-Mui pfty 7 (Hull MMN 
Second Period: F- warmer 2 (MBsay. 
AAeOunby) 3, F-SheppcnS 20 (Svehtal’W-jA 
F^Melianby 19 (Ntedetmayer. Svehla) & M- 
Mwray 4 (Haute Quintal) TMrd Peris* F- 
MeitarUiy 20 [Garpentov, Niedermaver) 
Shots 00 goal: M- M-l T- 9— 31. F- 16-10- 

12- 38. GaaOes: M-TMbautt. P- 

VtanbieshroudL 

N.Y. Istanders q j 2—3 

tMgary 2 2 0—4 

Rm Period; C-CWasson 2 (iQlnla. Gognerl 
(Sh>. Z C-Gavey 3 (Huscrail, Mmd) Secood 
Period: C-MWen 8 (Gavey) A. C-, SuHlwn'2 
(5tem) (sh).S. New York, Bertuni2 (BeroA 
Green) (pp). Third Period . New York. 
Smoflnsk) 15 (Mel rate BatuzzO (pp). 7, New 
Yorii. Saratraki 16 (Potffy) shots on goat 
New Yorii 5-10-10-25. C- 18-13-6—37. 

: New Yorii. Fktiaud. C-tOdd. * 






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1. Lue AJphand (France) l minute 2S23 
seconds, 2. Josef Strobl (Austria) 12535,3. 
Peter RunggMdler (Italy) 125 A3. 4. ASe 
Skaarda) (Norway) 12565. 5. Lasse KJus 
4- Christian Mayer CAus- 
7m S j 8W Loclwr (SwttaeriwH# 
125.78, 8. Luca Caltaneo (JtoJy) 125L8CI ft 
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WMams M 5 2-3 24. Rehoonds-iPorttond 55 
(Dudley 91, Taranto 54 (ftoder 11). 
Assists— Portland 20 (Rider 6>. Taranto 31 
(StawJomlre 13). 

Boston 29 24 25 29-187 

New YOril 30 25 29 2 5-109 

B: Walter 1M9M 27. E.Wifficn* 9-14 ZS 
2(fc)LY. Houston 10-1 5 1-2 25. OaUeylO-150- 
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Yorii 43 (OaMey 14). Assists— Boston 25 
(Wesley 13). New Yorh 33 (Ewtog 9). 
dewtaed 22 21 18 23-84 

New Jersey 10 M 21 11-62 


DM 25 18 38 33— m 

D: LEBs 9-26 2-4 30. Jadann 6-10 8-9 2ft 
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27. 

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54 (Osterio* Matanel3). AasWs-Oewer 
18 CJodsan 12 1 Utah 27 (StoddooW. 

27 38 27 18-m 
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0 IB. Rebounds— Chicago 47 (Ptppun UlL 
lAmeouKr 46 CAMur-Rrdiim, Reeves 12). 
Assists— Orieogo 30 (Kiritoc ID, Vancouver 
32 (Anthony 13). 


HOCKEY 


NHL Standings 


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AHAIfTK OMSKttt 

W L T Pts 6 F 

PldadeipMa ZB 14 7 

Florida 25 14 la 

N.Y. Rangers 25 20 7 

New Jersey 34 17 5 

Washington 20 24 5 


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Duncan Lets 
Wake Forest 
Pull Together 

The Associated Press 

Tim Duncan has been impressing 
people with his scoring, rebounding, 
passing and shot blocking since he’s 
been at Wake Forest. 

On Tuesday night he showed (hot he 
is so much more than statistics as the 
second-ranked Demon Deacons beat 
Virginia Tech, 61-44. 

The 6-foot- 10 All-America center 
took just five shots in die nonconference 


Collioi Basketball 


game after Coach Dave Odom mei with 
him about the importance of Wake 
Forest’s getting its outside shooting 
back on track. 

* ’I talked with him two or three times 
over the weekend about our perimeter 
guys not being in gear, and we have to 
get them involved,” Odom said. “J 
know he gave up shots early to keep 
them involved.” 

The emphasis on the long jumper was 
shown by 14 of Wake Forest’s first 18 
shots coming from 3-point range. 

The Demon Deacons (16-11 went 16- 
for-65 from 3-point range in their last 
four games, and Jerry Braswell was the 
shooter in the worst slump of all. 11-for- 
40 from the field in his last six games. He 
hit three 3-pointers and finished with 13 
points Tuesday, his fust time in double 
digits in more than three weeks. 

“We passed the ball, we got in mo- 
tion. we ran our offense and we got what 
we wanted.” Duncan said. He finished 
with a season-low 12 points, and Odom 
said he was unaware when he took 
Duncan out with 7:48 left that he was 
two rebounds shy of his 26th straight 
double-double. After being told, he put 
Duncan back in. It look him 1:10 to get 
two rebounds and keep the streak alive. 

The H okies ( 10-9) were held to a sea- 
son-low point tota).Ace Custis. guarded 
by Duncan most of the game, finished 
with nine points — his second-lowest 
total of the season. 

No. 9 Louisville 71 , DePaul 54 DeJuan 

Wheat scored7 of his 20 points in an 1 1- 
0 run that spanned the halves, and the 
Cardinals (17-2, 4-1 Conference USA) 
scored 25 points off DePauI's season- 
high 26 turnovers. Charles Gelait had 
career-highs of 24 points and 16 re- 
bounds for the visiting Blue Demons (3- 
15. 1-6). who have lost five straight 

No. 16 Michigan 67, Penn St. 59 Louis 

Bullock scored 23 points to lead the 
Wolverines ( 15-5, 5-3 Big Ten) to their 
first victory in State College, 
Pennsylvania, since 1 993. Michigan led 
50-37 with 14:21 to play, only to see the 
Niflany Lions (8-9, 1-7) close to 51-47| 
with'7:39 to play. Bullock helped hbldj 
off Penn State by making six free throws 
to close the scoring. 

Pete Lisicky led Penn State with 19 
points. 

No. 20 Xavier 91, Rhode Island 79 

Gary Lumpkin scored 24 points to lead 
the Musketeers (14-3, 5-2) in the match 
of Atlantic 10 division leaders. 

Preston Murphy had 20 points to lead 
the visiting Rams ( 12-6. 6-2). 

Baylor 76, No. 23 Tun 72 Damond 

Mannon’s 3-pointer with 21 seconds to 
play snapped the game’s final tie, and 
the Bears (13-7, 2-6 Big 12) went on to 
their first victory over a ranked team 
since beating Arkansas in 1990. 

Doug Brandt led Baylor with 20 points 
and 14 rebounds, while Patrick Hunter 
scored 8 of his 1 8 points in the final seven 
minutes. Reggie Freeman had 24 points 
for the visiting Longhorns (11-6, 5-2). 


Raptors Roll Up the Score 
While Nets Roll It Down 

Teams Set Records in Different Directions 


The Associated Press 

Toronto and New Jersey came up 

#ith record-setting performances. 

That was good for the Raptors and 
bad for the Nets. 

The Raptors got the most lopsided 
victory in their two-year history, 120-84 
over Portland in Toronto on Tuesday 
eight. Doug Christie led Toronto with 
33 points, tying a career high. 

; “They just came out and jumped us,” 
0 Portland guard, Kenny Anderson. 


[ “They outhustfed us and hit their shots. 
. They did everything right and we did 
* everything wrong.” 

I ‘ Meanwhile, New Jersey was held to 
.its lowest point total since it joined the 
NBA in 1976, losing to the Cleveland 
! Cavaliers, 84-62, in East Rutherford, 
Hew Jersey. 

1 J “We have to get better as individuals 
tnd get better as a team,” the Nets 
tjbach, John Calipari, said. "Today we 
tpok a giant step backward and it was a 
tea m effort.” 

The Cavs’ stingy defense held the 
Nets to 10 points in the first quarter and 
.11 lathe fourth. 

' ^We’ve all had our nights where we 
■can’t make our shots,” Cleveland’s 
coach. Mike Frateilo, said. “There’s 82 
games. It can happen to any of us.” 

Bullet* 102 , Magic B 2 In Landover, 
Maryland, Chris Webber had 17 points 
ind 14 rebounds as Washington 
snapped Orlando's four-game winning 
streak. Ju wan Howard haa 26 points and 
K) rebounds for the Bullets, wbo won 
for the third time in nine games. Penny 
Baidaway scored 22 for the Magic. 

Knicks 109, Catties 107 In New York, 
Chris Childs made a 3-pointer with 8.4 
seconds left — his only basket of the 
: — and the Knicks beat Boston for 
1 8th successive time. Allan Houston 


scored 25 points and Charles Oakley 
had a season-high 20 for the Knicks, 
who shot a season-high 58.4 percent 
from the field. A Boston rookie, Ant- 
oine Walker, had 27 points and a sea- 
son-high 16 rebounds. 

Kings 91, Timbwwotv** 88 Mitch 

Richmond celebrated his fifth consec- 
utive AlJ-Star selection with 28 points 
and 9 assists for visiting Sacramento. 
Minn esota got 25 points and 8 rebounds 
from Tom Gugliotta, who was selected 
to his first All-Star game. 

93, Bucks 84 In Milwaukee. 


Grant Hill scored 22 points and Detroit 
held its opponent under 100 points for 
the 22d successive game. The Houston 
Rockets are the only team to score 100 
points against Detroit this season, in a 
115-96 victory on Dec. 12. Glenn 
Robinson scored 15 points for the 
Bucks. 

H erat* 98, Pae«n 97 Glen Rice 
scored 30 points, including a pair of 
clinching foul shots with four seconds 
left. Reggie Miller scored 26 points for 
the Pacers, who have lost three straight 
at home. 

Lakers 102, Mavericks 83 Shaquille 
O’Neal had 31 points and 10 rebounds 
as Los Angeles won at Dallas. The 
Mavs, playing without their suspended 
star, Chris Gatling, led, 51-49. midway 
through the third period before the 
Lakers took control with an 18-2 run. 
Jamal Mashburn scored 26 points for 
Dallas. 

114, Nugget* 89 At Salt Lake 


City, Karl Malone scored 28 points and 
Jeff Homacek added 27 as Utah de- 
feated Denver. Homacek scored 10 
points during a decisive 19-6 third- 
quarter run. Denver's Mask Jackson had 
20 points. 12 assists and 10 rebounds. 

BuRs 1 1 1 , OrteEM 96 At Vancouver. 
Michael Jordan scored 28 points and 
Scoftie Pippen added 24 as the Bulls 
won the matchup between the NBA’s 


The Lakers’ Shaquille O’Neal (34), going up for two points, being fouled by the Mavericks’ Eric Montross. 


best and worst teams. The Bulls have 
won four straight and 13 of their last 14. 
The Grizzlies have lost six straight and 
11 of 12. 

Hawfuil 1 2, c&pimk 96 Mookie Blay- 
lock scored 34 points and tied a career- 
high with seven 3-pointers as Atlanta 
won in Los Angeles. Christian Laettner 
added 16 points and 8 rebounds for the 
Hawks, who have won 12 of 13. 

■ On the Bench: An O’Neal First 

For the first time in his five years in the 
National Basketball Association. Sha- 
quille O’Neal will be watching the start 
of an All-Star game from the bench. 


O’Neal was a four-time All-Star 
starter for the Eastern Conference when 
he was with the Orlando Magic. But on 
Tuesday he was one of seven reserves 
chosen by the Western Conference 
coaches for the Feb. 9 game in Clev- 
eland. 

The Los Angeles Lakers’ center trails 
only tiie Chicago Bull’s Michael Jordan 
in scoring. O'Neal also is No. 3 in the 
NBA in blocks and No. 4 in both re- 
bounding and field goal percentage. 

The Nos. 3, 4 and 5 scorers — Karl 
Malone of Utah, Latrell SpreweU of 
Golden State and Mitch Richmond of 
Sacramento — also were picked for the 


West. Malone was an All-Star MVP in 
1989 and 1993, when he shared the honor 
with his Utah teammate John Stockton. 
Richmond won the award in 1995. 

The other West reserves are Clyde 
Drexler of Houston, Tom Gugliotta of 
Minnesota and the NBA steals leader, 
Eddie Jones of the Lakers. 

The East reserves are Vin Baker of 
Milwaukee, Terrell Brandon of Clev- 
eland, Tim Hardaway and Alonzo 
Mourning of Miami. Dikembe 
Mutombo and Christian Laettner of At- 
lanta and Glen Rice of Charlotte. 

The starters for both teams were an- 
nounced previously. (See Scoreboard.) 


Boxer Seeks Victory 
Outside the Ring 

Washington Post Service 

1 WASHINGTON — The beavy- 
' weight boxer Andrew Golota is su- 
ing Riddick Bowe and Madison 
Square Garden for $5 million for a 
■ post-fight melee that injured Golota, 

; me of his cornermen, 14 spectators 
and several police officers in July. ' 
^ In a lawsuit filed last week m 
F New Jersey State Superior Court, - 
\ Golota and the cornerman, Sam . 
'"Colorma. said they were injured 
because Bowe did not control bis' 
J employees and because Madison 
; Square Garden did not provide ad- 
- equate security. 

f More than a dozen people were 
arrested and four members of 
Bove’s entourage were charged in 
connection with the 30-minute 
melee, which started when New- 
: man and others stormed the ring 
‘ after Golota was disqualified for 
•low Wows. 

• Thomas DiBiasi. Golota’ s law- 
' yer, said the Garden was negligent 
because it did not phone for help for 
r 18 minutes while fights erupted 
around the arena. 

Madison Square Garden said in a 
statement that its security teams 
"acted appropriately.” 


Flyers’ Shot-a-Thon Leaves 
Coyotes Shaking Their Heads 


NaciiManimM 


Canadiens’ goalie Jocelyn Thibault burying a shot by Rob Neidermayer. 


The Associated Press 

Even though they had the best record 
in the Eastern Conference, the Phil- 
adelphia Flyers were struggling. 

They were looking for offense, trying 
to regain therr touch after a 17-game 
unbeaten streak that pur them in first 
place. So the Flyers went back to the 
basics — throwing the puck at the net as 
much as possible and following it until 
they scored! 

On Tuesday night, they took a sea- 
son-high 55 shots at the Phoenix Coyote 

WHt Kownpup 

goalie Nikolai Khabibulin and wound 
up with a 4-1 victory in Philadelphia. 

The Flyers took 1 1 shots in tne first 
period, 23 in the second and 21 in the 
third, while limiting Phoenix to 18. 

After a scoreless first period. Shjon 
Podein ended a 15-game scoreless 
slump with his ninth goal of the season 
at 1 1 <21 of the middle period. He took a 
centering pass from Mikael Renberg 
and snapped a shot toward Khabibulin, 
who mane the initial save. 

But Podein managed to flip the re- 
bound over the goalie’s right shoulder 
while being knocked on top of him. 


Less than four minutes later, Chris 
Therien sent the puck toward the net, 
where Podein redirected it past Kh- 
abibulin at 15:32. 

Philadelphia also got a power play 
goal in the third when Janne Niinimaa 
bounced a shot off the stick of the 
Coyotes’ Jim Johnson into the net. It 
was the Flyers’ fourth power-play goal 
in 37 chances. 

Flames 4, Iria nd cr* 3 In Calgary, 
Steve Chiasson and Mike Sullivan both 
scored short-handed goals as the Flames 
ended a three-game streak without a 
victory. 

Chiasson and Sullivan have each 
scored two goals this season — all of 
them short-handed. Bryan Smoiinski 
scored twice in the third period for New 
York, which had won three in a row. 

There were 16 penalties called in the 
second period, including six majors for 
fighting. 

P aii th f* 5, Canadians 1 In Miami, 
Scott Mcllanby scored two goals for the 
second straight game, and Florida sent 
Montreal to its fourth straight loss. 

Mellanby got his 19th and 20th goals. 
He had a goal and an assist as the Pan- 
fliers scored three times in a six-minute 
span of the second period for a 4-0 lead. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



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PAGE 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JANUARY 30, 1997 



ART BUCHWALD 


Toast and Access 


To Save Rare Livestock, Put Them on the Menu 


W ASHINGTON — A 
Kune Fu monk came to 


VY Kung Fu monk came to 
the White House door with a 
broken electric toaster. 

The butler asked him what 
he wanted. 

*Td like to get my toaster 
fixed.” 

*‘We don't fix toasters. 1 ' 

“I gave $250,000 to Presr 
idem Clinton's campaign, 
and they told 
me his people 
would fix any- 
thing,” 

"You misun- 
derstood. They 
said that for 
S250.000 they 
would listen to 


White House and have your 
picture taken with Socks. 
These arc reasonable political 
perks that any generous cit- 
izen is entitled to during the 
Qinton administration.” 


By Warren Hoge 

New York Turns Service 


L EEDS, England — Nigel, a 
ginger-haired Taraworth boar. 


dining-room tables some of the 
country's oldest and most en- 
dangered species, like the North 
Ronaidsay sheep that feed on sea- 
weed in the Orkney Islands, the 


was listlessly rooting for barley and white-belted lop-eared British 
oats, scattering his straw on a chilly Saddleback pigs and die Manx 


your problems, Ruchwald 
but not neces- Bucnwa,fl 


sadly do anything about them. 
We were only guaranteeing you 
access to the White House fora 


very reasonable price." 

"You say that now. but at 
the time you assured all of us 
visiting the Oval Office that 
for a decent offering we could 
have anything fixed if it was 
broken.” 

"Within reason. For your 
contribution you are welcome 
to bowl in the basement, sleep 
on the second floor of the 


“Surely you must have 
someone here who can fix my 
master." 

“We may have, but if word 
got out that we were repairing 
electric appliances for polit- 
ical contributions it would 
look tacky.” 

"Are you eying to tell me 
that my $250,000 went down 
the drain and the breakfast I 
attended with the Joint Chiefs of 
Staff, the GA and die Marine 
Corps band was for naught?" 

“Of course, it meant some- 
thing. You axe now in our 
computer where you will re- 
main forever. The moment the 
president needs advice on 
Kung Fu legislation you will 
be the first person he'll call. 
When you want breakfast you 
can stop by Vice President 
Gore's office and talk to him 
about the Internet. These are 
meaningful things that money 
can't buy." 


Yorkshire morning with sweeps of 
his rheumy snout. ‘‘He’s not really 
hungry,” said David Bradley, the 

ine* lrtrtlrinnr 


Loghtan rams, famed for having 
four horns. 

There was no resistance Co the 


farm manager. “He's just looking alamting-sounding idea from 
for savories the same way you do among the trust's 10,000 oonser- 


when you go to the kitchen and vation-minded members. Some be- 
hope to find a bag of crisps.” came believers on sampling some of 

Bradley moved on to the next die meat and finding how much bet- . 


paddock, where there were more of ter the gamey, woody, peaty tastes 


the cattle, sheep, goats and pigs that 
make his Temple Newsam Home 


and the succulent, tender textures 
were than what they had become 


Farm the country's largest center used to from their supermarkets. 


for rare breeds from Britain's rich 
and varied agricultural past. 

Suddenly, there was a great flap- 
ping commotion overhead. A white 
croad Langs hane, a full-feathered 
ivory bird with a fiery red cocks- 
comb, had sprung forth from a side 
window ana was grandly patrolling 
the roof of the shed. “Ah. now 
that's the one you'd give the vicar 
for lunch,” Bradley said. 

A new movement in Britain to 
preserve rapidly dying out tradi- 
tional breeds, some of which date 


Others were won over by the fact 
that the rare-breed marketing plan is 
reviving the small local businesses 
that treat beasts and the land with 

more consideration than intensive 
agricultural methods do. Still others 
took the view that rare breeds were 
as much a part of British heritage as 
the stately manor booses that this 
society so zealously protects. 

"Remember the days of Grand- 
ma's Sunday dinners, when the 
pork had real crackling on it and the 
gravy from the joint of beef was so 



breed meats with the same attitude, : _ ! V s • ’ 

Some of the pork cuts are darkei >\\ - 

and fattier than people are accux- [ft .. lltlT — -j 

tomed to, the beef is heavily,/^ 

marbled, and the lamb and mutton 

joints are smaller than those from 

intensively farmed animals. • ; % 

"There is a whole senes of ar- i n f rf / 1 v 

cuments os to why traditional breeds JM f * 




"There is a wnoiescnca or ar- til ! 
guments os to why traditional breeds 'tu I 
taste more succulent and flavorful, J 

but the thing that will sell it is die- - f J 

butcher’s patter.’ Alderson said. / fWfffJ/J 

"Somebody comes into the shop to 1 |«f // J I' * M F 
buy something, and the butcher coa- J/{« * * 

vinces them they should take some A - , « 4 

black pork joints because they taste i ll* llil (ft 

better and they're healthier.' * 

Part of the butchers' pitch cen- £ . ~ . , 

tersoo the treatment of the animals, *’ ■ rMiiri r " : 

bow they are not fed additives and .. . 

growth enhancers, how they a/J .7"^ 

allowed to grow at natural ralh& 

than induced rates, how even their - — “ :: 7 s / * 

end is less stressful because they 1 -. - 

are not transported hundreds of:: . * 

miles to large abattoirs but are 

slaughtered locally and swiftly in ' . ' = r r 

small consignments rather than as- , \ 

sembly line conditions. j ... .. ... .. • 

The crust has prepared posters i- . j-„v* !-•*.** 

for butchers’ shoj>s that advertise I. .-7.-;^ a* 

"traditional” British breeds, with 1 


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back to pre-Roman times, has come tasty you would mop it up with a 
up with a notion similar to the one slice of bread?" David Lishman, a 


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r t 

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their pictures and copy attesting to 
how flavorful they are. Tbe trust 


Angelic Weather Vane 
Hid an Old Message 


The Associated Press 

ST. PETERSBURG — A 
disgruntled crew of climbers 
repairing the spire of the his- 
toric Cathedral of Saints Peter 
and Paul in 1957 wrote out 
their complaints and hid them 
in the figure of an angel high 
above the ground. The Mos- 
cow Times said Wednesday. 

Nearly 40 years later, an- 
other crew of climbers found 
the letter in a bottle inside the 
angelic weather vane and, 
charmed, added a message of 
their own, the paper said. 


"And my toaster?” 
“Forget the toaster. If you 
want an electric power plant, 
we'll send you to the Depart- 
ment of Energy. If you are in 
the market for a new airport, 
we'll shuttle you to the De- 
partment of Transportation. If 
you would like to be the new 
ambassador to China, we'll es- 
cort you over to State. But 
once and for all, the White 
House doesn't do toasters.” 
"Thank you. Could I make 
another contribution to the 
Democratic Party in ex- 
change for talking to Pres- 
ident Clinton again?” 

“I’ll clear tt with John 
Huang and put you down for a 
golf game on Thursday.” 


Bradley had at the appearance of butcher in nearby Ukley, wrote to 
the majestic fowl. his customers in a brochure announ- 

The only way to save them, the ring his enlistment in the trust's 
leader of the campaign, the Rare cause. "It came from naturally 
Breeds Survival Trust decided, is reared breeds such as Gloucester 
to make people eat them. "I know Old Spots and Saddleback pigs, 
it sounds shocking at first” said from Belted Galloways and white 
Lawrence Alderson, the executive Park Cattle, names which were as 




fog* Samoa/Tlx- *■«* In*' Ti 

David Bradley on bis farm for rare breeds in England. 


feels like l inin g up a row of fine berries, roots, headier, bracken and 


single-malt whiskies to choose gorse. Modem agriculture sought to 

r- w •• • ■ m . jp ■ - - - m. - - - - I — Urw>4 fAr 


director of the trust "but unless we familiar then as they are rare today, 
make a commercial market for Each breed was as distinctive as its 


them, there is no way that people 
are going to raise them.” 

The idea is that only increased 
consumption of the meat will 
provide the commercial encour- 
agement for the country’s farmers 
to consider returning to tradition- 
ally reared animal species, thus 
making the breeds no longer rare. 

So. two years ago. Alderson set 
up what is now a growing network 
of livestock owners, abattoirs and 
specialty butchers to put on Britons' 


markings, so the Hebridean hogget 
and the Portland lamb were as dif- 
ferent in flavor and texture as Ched- 
dar and Cheshire cheese.” 


from," she said. Her friends groan 
when she tells them what she is 
putting before them, she continued, 
’‘but they love it once they put their 
fork into it" 

And is she bothered by the idea 
of eating rare breeds? * ‘There’s no 


Even though he charges at least point in not eating them,” she said. 


10 percent more for the rare breed 
meat, demand quickly outdistanced 
supply and his overall business grew 
by 30 


“If we weren’t eating them, they 
wouldn't be here anymore.” 

At the turn of the century, Britain 


percent. Among his pleased was populated with a large variety 


patrons is Mary Fisher, a historian 
and beekeeper from Leeds. 

"When 1 go into Lis hman 's, I 


of cows, pigs and sheep whose vary- 


ing physiognomies were adapted to extinct. 


create animals bred for leanness and 
quick growth and uniformity of 
shape and look. The results were 
efficient narrow crossbreeds “de- 
signed by accountants,” said Anne 
Petch. the proprietor of Heal Fatm 
in Kingsnymptom, Devon, and 
a member of the trust council 
Only the rural tradition of county 
sbows and plain British eccentri- 
city sustained the traditional 
breeds, and that wasn’t enough to 
keep many of them from becoming 


has also collected some of its mem- 
bers ' recipes and published them in' 

a cookbook. Among the 90 recipes 
are Wensleydale hogget chops (a 
yearling sheep) with lovage and. 
cardamom, simmered in bed;* 
Tam worth pork fillets in yog|^ 
and apple jelly, poached South-! 
down mutton and Whitefaced 
Woodland lamb hot pot 
The trust was created in 1973; 
when a number of famous breeds 
were on the cusp of disappearing. It. \ 
took as its Logo the head of a White 
PaikbulI,abreedrTK:ntionedinCeh-| 
ic lore whose numbers had dwindled : ■ . 
to 65 breeding cows. .Alderson noted! •’ 
that in die seven decades of this] •’ 
century before the trust was set up,; - 
more than 20 unique breeds of Brit- 
ish farm animals died out and that-; 
since 1973 none have. The list of ! i 


tt*. 

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_V. 




different climates and soils arid van- 


run down the dungs he has, and it eties of mixtures of grasses, clovers, 


Alderson was aware that con- 
sumers might greet the traditional 


livestock and poultry breeds it now j 
protects is nearing 60. ! 


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STRANGE FAME 


PEOPLE 


What’s Become a Legend? Bruno Magli 


I T’S a mystery no longer. Dan Rather 
has identified the man who more than 


By Margaret Webb 
Pressler 

Washington Post Service 


W ASHINGTON — OJ. 
Simpson may have lost 


YV Simpson may have lost 
his clout as a celebrity en- • 
dorser. but at least one ^ 

product is benefiting from its 
connection with the former 
football star. 

Sales of Bruno Magli 
shoes, an exclusive, expens- 
ive brand of Italian footwear, 
have jumped about 30 percent 
worldwide in the past year. In 
the United States, sales of 
Bruno Magli men's sboes A Bruno 
have risen about 15 percent, 
according to Mary Loving of Loving & 
Weintraub, the company's public rela- 
tions firm. 

Interest in the designer was sparked 
during Simpson's 1995 criminal trial, 
when an FBI expert testified that the 
distinctive bloody shoe prints left near 
the slain bodies of Nicole Brown 
Simpson. Simpson's ex-wife, and her 
friend Ronald Goldman were made by 
someone wearing size 12 Bruno Magli 
shoes. 

In Simpson's wrongful death civil tri- 
al the shoe prints became a key piece of 
evidence. Though Simpson denied ever 
owning the shoes, and even called them 
"ugly-ass" in a deposition, plaintiffs' 
law yers presented the jury with 31 pho- 
tographs of Simpson wearing a pair of 
Bruno Magli shoes, contending he left 
the bloody shoe prints. 

“There is no doubt that the civil trial 
has put ihe name on the lips of people all 
over America.” Loving said of the 
Bruno Magli moniker. “Certainly, 
people that haven't seen them before 
have been into the stores ... to find out 
whar this is all about.” 

Loving stopped short of drawing a 
direct correlation between the trials and 
the increased sales, arguing that the 
company expected strong results any- 
way because of a new advertising cam- 
paign targeting U.S. shoppers. But mar- 
keting experts say the exposure of the 
shoes during the two Simpson trials res- 


beeu stirred because of all the 
publicity. . . . They’re hot 
You're gonna jump on things 
dial are hot and then when 
they cool off, you're gonna 
jump off them.” 

Jeanne Rose, a spokeswom- 
an for Neman Marcus at 
Tysons Galleria, said the store 


stopped selling Bruno Magli 
men’s shoes about six months 


men's shoes about six months 
a ? 0 ’ b 111 is bringing them back 
£<>1 V this spring. And she said the 
7 • • • , : store had had “healthy in- 

7 1<, creases” in sales of Bruno 

Magli's styles for women. 

a™ vr *«hmpo n iw Lori Rhodes, a spokes - 

Magli model; sales of the brand have soared, woman for Saks Fifth Aven- 
ue, said tiie company hasn't 
onaied with American consumers, de- experienced a noticeable increase in 


spite the macabre circumstances, and at sales of Bruno Magli shoes since the trial 


the very least has piqued their curi- 
osity. 

“Every time you heard them de- 


began, but offered a ready explanation: 
“Our customer bad been very aware of 
Bruno Magli shoes prior to this . . . 


scribed, they were described as 'exdus- they're one of our top lines.” 


ive,' and ‘stylish.' Those are what you 
call good words,” said Merrie Spaeth. 


Loving said the Italian company has 
not been hurt at all by the association with 


Xbas identified the man who more than 
10 years ago yelled “Kenneth, what's 
die frequency?” before knocking the 
CBS anchorman to the ground and re- 
peatedly kicking him. Rather says the 
man is William Tager, who is now in 
prison for shooting an NBC technician 
to death outside the "Today” show 
studios in 1994. Rather was confronted 
on OcL 4, 1986, on Park Avenue as he 
walked home from a friend's apartment 
After being knocked down. Rather was 
kicked in the neck and kidneys before he 
could summon help. Dr. Park Dietz, a 
psychiatrist who examined Tager after 
the shooting, told Rather several months 
ago that be was certain it was Tager who 
attacked him. Tager. 49, was reportedly 
convinced that the media had him under 
surveillance and were beaming hostile 
messages at him. During the encounter, 
Tager demanded that Rather tell him the 
frequency being used to transmit die 
messages. When Rather turned his back, 
Tager attacked him. Dr. Dietz said, 
adding that Tager "contemplated doing 
worse harm than he did.” Charges are 
not expected to be filed because the 
statute of limitations has expired. 


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president of Spaeth Communications, a the Simpson trials; no longtime clients 


Ron RrfBVTV Ainuci*»l ^ 

CURED — Tony Roberts taking a curtain call with Liza Minnelli, rigl< Tin 


Dallas consulting firm that specializes in 
consumer psychology. “Everyone 


have renounced their fealty to the brand, 
for example. "Obviously, they have no 


thought the surrounding publicity was control over it," sbe said. "There was a 
terrible, but what I would call the ‘dis- man, and that's what be bought.” 


play value’ for the shoes, was over- 
whelmingly positive.’’ 

Bruno Magli shoes are handmade 


Marketing experts say there is, in fact, 
little chance that the association with the 
1994 murders could backfire on the corn- 


leather shoes made for men and women puny. Sp3eth said the nature of the crime 


that retail for an average of $250 in the — the celebrity and the tragedy — has 


United States. Loving said and some only helped make its details more mem- 


styles can cost as much as $1 ,000. 
Despite the company's now widely 


orable to Americans. In contrast, for ex- 
ample, no one remembers that Hillary 


recognized name, though, Bruno Maglis Rodham Clinton wore a pair of Bruno 


have a limited distribution. Only 299 pairs 
were ever sold of the size 12 "Lorenzo” 
— the style and size of the shoe that the 


Magli dress shoes to the inaugural balls in 
"Paradoxically, the best time to get 


FBI expert said left the bloody footprints out the positive message of a company is 


— according to Loving. 


in a crisis, because that’s when it s most 


That may change, though, as the believable.” Spaeth said "The shoe 


brand's exposure spurs some retailers to 
consider stocking the Bruno Magli line. 


message in this case — exclusive, de- 
sirable. very expensive, very stylish — 


“We used to carry them a few years ago came out loud and clear. One of the 
- v we ] ve 8. 0t diem coining in again for reasons it was so interesting is because if 


Joan Edelman Spero, departing un- 
dersecretary of state for economic af- 
fairs, has a new job: to give away $55 
million a year. Spero, 52, has been 
named the president of the Doris Duke 
Foundation, finally ready to do business 
three years after the death of its ec- 
centric founder plunged the $1.2 billion 
charitable bequest into a crisis of lit- 
igation. The foundation must distribute 
$17.3 million in grants this year and at 
least $55 million in each subsequent 
year to satisfy U.S. tax regulations. 
Duke loosely stipulated her areas of 
interest — Islamic art and culture, jazz 
and other performing arts, prevention of 
cruelty to children and animals, and 
medical research — but the foundation 
will evaluate proposals m all areas with 
an eye toward “making a break- 
through.” said James Gill, a New York 
lawyer and chairman of the trustees. 


after returning to the Broadway play “Victor/Victoria.” He had boyfk. 
out, claiming illness, after criticizing Minnelli’s acting abiliti 




when a man’s bizarre claim that she was 
already his wife was thrown out of 
court. The New Delhi court imposed a 
fine of 3,000 rupees (about $85) on 
Ramakrisbna Gowd for filin g a 
"bogus and vexatious” case. Gowd, a 
village leader in the southern state of 
Andhra Pradesh, claimed he married 
Gandhi in 1991. Newspapers say Gowd 
bas claimed to have married two movie 
actresses in the past Gandhi, 26, plans 
to marry a New Delhi businessman, 
Robert Wad h era, next Wednesday. 


The Telegraph reported Wednesday 
Diana, one of the world's best dies! v 
women, would auction 65 of her go^; . 
in June to raise funds for causey J \ 
AIDS and cancer research. Bruce-# 
field, a British designer, rejected i . 
suggestion that the princess may; . 
turning her back on haute couture.-.- . 
think sbe basically needs a bit of W.' 
robe space,” Oldfield told BBC rad .• 


Princess Diana may auction some of 
her evening gowns for charity, her 


spokeswoman said Wednesday, but she 
denied a report in the Daily Telegraph 
that the ex-wife of Prince Charles had 


this spring,' ' said Jim Colen. president of it was a fashion show, or Hillary Clin ton, 
the tony James men’s stores in Mont- we wouldn't have noticed. But we paid a 


gomery Mall in Bethesda and Tysons lot of attention to it because of the crisis 


Galleria. "The interest in the market has surroundings.” 


Priyanka Gandhi, daughter of the 
late Indian prime minister, Rajiv 
Gandhi, received the go-ahead to marry 


offered her wedding dress to London's 
Vict oria & Albert Museum. "I can con- 
firm that discussions have taken place 
with Christie's about a proposed charity 
sale in 1997,” the spokeswoman said. 


The University of Nevada at P. 
has established a scholarship for spt ; 
education students in honor of E." 
Cosby. The university said thaK' 
foundation and alumni council had V 
tribured $10,000 and that contribuf ; 
were being sought to increase the-.' 
dowment, which will produce a y»-'^ 
scholarship of $500. Cosby, the sfv' 
the entertainer Bill Cosby, was •. 
suing a doctorate in special educati 
Columbia University when he was 
to death Jan. 16 in Los Angeles, x 


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