Skip to main content

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

See other formats


INTERNATIONAL 







ie.,. 

h 

« *»: :n 
.‘hr r ' 
«iL f;. 
Vj-.L, 
*!C- . 

Ui t.. ■■ 


ill ' 

!c . 

*tr. . ? 

JtJ v 






■ PUBLISMED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 



The World’s Daily Newspaper 








Paris, Wednesday, July 2, 1997 


No. 35,562 


u.s • Backs Boeing Deal 

ElTs Review Faces a Friday Deadline 


HINTS OF AN ULTIMATUM FOR TAIPEI 


i 


(TroptL-J by Otr SxtfF/m Dbfurha 

WASHINGTON — U.$. regulat- 
ors said Tuesday that they would not 
challenge Boeing Co. ’s planned $14 
. billion purchase of its longtime rival, 
McDonnell Douglas Corp., a deal that 
would create the world’s largest 
aerospace company. 

The Federal Trade Commission's 
action now shifts antitrust attention to 
Europe, where the companies still 
need approval from the European 
Commission, which has expressed 
concern about several aspects of the 

acquisition. 

In particular, European antitrust 
authorities have questioned long- 
term contracts that Boeing has ne- 
gotiated to be the exclusive supplier 
of aircraft to three major Amencan 
airlines. 


In its ruling, the Federal Trade 
Commission said that McDonnell 
Douglas “can no longer exert a com- 
petitive influence in foeworld wide 
market for commercial aircraft” 

It added: “There is no econom- 
ically plansible strategy that McDon- 
nell Douglas could fouow, either as a 
stand-alone concern or as part of an- 
other concern, that would change that 

grim prospect.” 

“On its face, the proposed merger 
appears to raise serious antitrust con- 
cerns,” four commissioners said. 

But becanse Boeing and Airbus 
represent aU but a smalifracti on of die 
commercial airliner market, “We do 
.not find this merger will substantially 
lessen competition.” 

See MERGER, Page 4 


\ Astonishing ’ Market 
Comes Storming Back 


U.S. Stocks Post Best 2d Quarter Since 1938 


By David Barboza 

New York Times Sen-ice 


> NEW YORK — Three months ago, 
investors were worried about the Big 
~ One. 

The U.S. stock market was sinking 
fast, headed toward its worst setback 
! 1990. And bearish strategists, 

r of whom had long forecast an end 
' .of the greatest boll markets in 
, were gloating. 

i die market stormed back, and in 
•that ended Monday, the Dow 
industrial average gained 16.5 
at, its largest second-quarter gain 

• since the end ofWbrid War 



7,672.79, about 1,200 points ahead of 
where it began the year. For die day, die 
Dow fell 14.93 points, but by registering 
a gam in the quarter just e nded , it 
now risen in 10 consecutive quarters far 
the first time since die early 1950s. 

On Tuesday, the Dow continued its 
climb, rising 49.54 points to 7,722.33. 

“It's astonishing, ’ said Byron Wien, 
the U.S. investment strategist at the 
brokerage house Morgan Stanley & Co. 
“At the be ginning of the year, many 
were apprehensive because we’d had 
two good years in a row, and almost 
invariably die third year was down. Bnt 
the fact is we're having a great year.” 

Few Wall Street analysts, however, 
expect the pace to continue. Many think 
the Dow will close the year lower than 
where it is now, which would be con- 
siderably higher than where it was when 
the Federal Reserve Board’s chairman. 
Alan Greenspan, . first suggested in 
December that the market may have 
been infected with “irrational exuber- 
ance.” 

Still, Wall Street and Main Sheet are 
exhilarated at the kind of year that is 
unfolding. What makes the run impress- 
ive is that it has come at a time when 
many strategists would have been 
pleased with a 10 percent gain at year's 
end. But for the last six months, in- 
vestors and strategists alike have been 
dazzled by a stock market that has done 
nothing less than rewrite the history 

See INVEST, Page 12 



Taiwan’s Turn Next, 
Chinese Leader Says 


By Patrick E. Tyier 

Ne H 1 York Times Senice 


I DiBmd/Agmcc Pnorfrac 

A man making his feelings known as pro-democracy march- 
ers tested the waters in the new Hong Kong on Tuesday. 


BEIJING — Returning home after reclaim- 
ing China’s sovereignty over Hong Kong. Pres- 
ident Jiang Zemin appeared before a huge 
crowd at foe Workers Stadium here Tuesday 
and called on Taiwan to be next by taking 
.“concrete steps” toward “die complete re- 
unification of the country.” 

He said that Beijing’S successful manage- 
ment of Hong Kong’s transition would “set an 
example for a smooth return of Macau and for 
foe final solution of foe Taiwan question.” 
(Taiwan again rejected Beijing's desire to 
reunify under foe Hong Kong system. The As- 
sociated Press reported Tuesday from Taipei. 
“Thee Hong Kong model not only can’t be 
applied to Taiwan for objective reasons, it also 
goes against foe aspirations of Taiwan's 21.5 
million people,’’ said Chang King-yuh, chair- 
man of the Mainland Affairs Council.] 

Taiwan has been estranged from the main- 
land since the Communist victory in 1949 and 
re mains an independent territory whose security 
has largely depended on foe United States for 
half a century. Taiwan's response to Beijing's 
entreaties for reunification has been that it will 
do so only when China has become an open and 
democratic society. 

Mr. Jiang’s remar ks woe significant because 
they reflected foe determination of the lead- 
ership in Beijing topress for a “programmatic! ' 
return of Hong Kong, Macau and Taiwan, 
which many analysts have interpreted as setting 
a timetable, or ultimatum, for reunification with 
Taiwan early in the next decade. 

Appearing Tuesday night with the collective 
Communist Party leadership with whom he 
shares power, Mr. Jiang said the party would 
unveil a blueprint for reform during the 15th 
Party Congress this fall. It will be foe first such 
gathering thar Mr. Jiang will supervise without 
powerful guidance from Deng Xiaoping, foe 
paramount leader who died in February. 

“We will map out a comprehensive strategic 


plan for reform, development, stability and oth- 
er major issues in our country and put forward a 
plan of action," Mr. Jiang told the crowd of 
50.000 party members and guests. 

In an evening of laser lights shows, choral 
performances by 10,000 singers and patriotic 
dance numbers played out with swirling cos- 
■ tomes on the floor of die soccer stadium. Mr. 
Jiang spoke about a future in which Macau and 
Taiwan would follow Hong Kong back to China 
under foe “one country, two system” formula. 

And in an extraordinary political develop- 

See CHINA, Page 7 


A New Order 
Takes Its Place 
In Hong Kong 


Beheading Case Shakes Japan 

Did School Stress Turn Everyboy’ Into a Monster ? 


By Sheryl WuDunn 

New York Tones Service 


TOKYO — In foe neighborhood 
where one of foe country’s grisliest 
murders occurred, the streets are 
straight and clean, with names like 
‘Tokyo University,” and foe crowded 
spots are cram schools, not bars. •• 

As scrutiny focuses on foe 14-year- 
old boy who lived in this neighbeshood 
and who is accused of murdering and 
beheading another child, new faces are 
emerging about him that are deeply un- 
settling to the nation. 

The boy comes from a perfectly nor- 
mal background. He lived with his par- 
ents on the right side of foe tracks in a 
nice middle -class neighborhood, he 
went to cram school and he played Ping- 
Pong with his family. 

In short, he does not come across as a 
deprived or tormented youth, so foal 


it easily dismiss the case as 


teasuy< 

jle if tragic. Instead, he 
comes across as a Japanese Every boy. 
That is triggering renewed national 


discussion of whether Japanese society 
itself is in some way jpaitly to blame. In 
particular, some social critics are wor- 
rying that acad em ic pressure and the 
regimented nature of society are turning' 
some children into monsters. 

■*' We need to recognize that the stress 
level of our youngsters is reaching a 
dangerous level, and so our first task is 
to alleviate all this accumulated pres- 
sure,” said Nobuto Hosaka, a Demo- 
cratic Socialist member of Parliament 
who specializes in educational issues. 
“Rather than piecemeal change, I think 
we need shock treatment.” 

Japan's education minister has ini- 
tiated a movement to expand foe “edu-^ 
cation of foe heart,” a reference to mor- 
al education, in schools across foe 
country. And schools in the Suma Ward 
erf Kobe, where both foe ninth grade 
suspect and his victim lived and some- 
times played together, held assemblies 
this week to talk about the slaying. 

The ninth grader reportedly has con- 

See MURDER, Page 6 



By Velisarios KattouJas 

Intemitioiul Herald Tribune 

HONG KONG — On their first day in charge 
and backed by a low-key injection of 4,000 
Chinese soldiers, foe new chief executive of 
Hong Kong and the president of China vowed 
Tuesday to preserve Hong Kong's prosperity 
and freedoms, but democracy activists again 
took to the streets to challenge the new order. 

“The overwhelming majority of the laws 
previously in force will be maintained,” Pres- 
ident Jiang Zemin said in a speech before de- 
parting for Beijing after a night of ceremony and 
celebration. “Hong Kong residents will enjoy 
their rights and freedoms in accordance with 
law and all will be equal before the law. ” 

In another speech marking foe transfer of 
Hong Kong from British rule, Beijing's hand- 
picked chief executive. Tung Chee-hwa, vowed 
to keep foe economy free and vibrant, and 
promised there would be tolerance of dissenting 
views under Chinese rule. But he insisted, as he 
has in the past, that foe public uphold “fine 
traditional Chinese values 1 ’ including “collec- 
tive responsibilities. ’ ’ 

Nostalgia and wretched excess as the flags 
are changed. Page 2. • A prayer session on 
a soccer field. Page 6. • The settini 


empire looks golden to Bermuda. 


sun of 

'age 7. 


Uyi Bdt/Afmcc Fhncr+ior 

HANDOVER HANGOVER — Sweepers cleaning up Tiananmen Square in Beijing on Tuesday, after 
celebrations of Hong Kong’s return to Chinese rule. The festivities took place under severe guard. Page 7. 

Clinton Putting Big Wager on Beijing 


By Thomas W. Lippman 

Washington Post Service 


HONG KONG — With foe Chinese Array's entry into 
Hong Kong on Tuesday morning, foe chips are on foe 
table for foe biggest foreign policy 
gamble of President Bill Clinton's 
second term. 


The president and his senior advisers are wagering that 
they can forge a constructive, mutually respectful re- 
lationship with China, a relationship that can overcome 
wide differences over trade, regional security, weapons 
proliferation and human rights. If foe administration has 
developed a fallback strategy to pat in place should the 
gamble fail, it is not evident 


In Mr. Clinton's first term, be bet the form, so to speak, 
on President Boris Yehsin of Russia. He collected his 
winnings in Denver last month when a vigorous, freely re- 
elected Mr. Yeltsin, acquiescent in foe expansion of the 
North Atlantic Treaty Organization, stood by his side as a 
■ partner in foe Summit of foe Eight 
NEWS ANALYSIS The outcome of foe wager on 

China may take longer to register. 


During her visit here for ceremonies marking Hong 
Kong’s reversion to Chinese sovereignty. Secretary of 
State Madeleine Albright urged audiences to think of “a 
movie, nor a snapshot” in which foe content of reels not 
yet filmed will aetermine Washington's appraisal of 

See GAMBLE, Page 6 


“We value plurality,” he said, “but dis- 
courage open confrontation; we strive for 
liberty, but not at the expense of foe rule of law; 
we respect minority views, but are mindful of 
wider interests; we protect individual rights, but 
also shoulder collective responsibility.” 

As expected, Beijing's appointed legislature 
for Hong Kong voted early Tuesday to restrict 
public demonstrations, but democracy activists 
took to the rain-soaked streets demanding free 
and fair legislative elections immediately. Mr. 
Tung has promised elections in May. 

“We want democracy. We want it now," 
demonstrators shouted during a march organ- 
ized by the Alliance in Support of Democratic 
Patriotic Movements in China, a group con- 
demned by Beijing. 

The demonstration, which Hong Kong’s gov- 
ernment-run radio said attracted 10,000 pro- 
testers, also demanded that China reverse foe 
convictions of those who took part in the stu- 
dent-led protests in Tiananmen Square that 
were crushed by the military in June 1989. 

* ‘We have proved our point that we intend to 
demonstrate and that we can demonstrate 
peacefully," a spokesman for the group said. 
“This is what democracy is all about, and we 
will not lose it” 

The arrival at dawn of 4,000 more Chinese 
troops, which had been announced in advance 
by Beijing, nonetheless irritated Britain and foe 
United States, which both reminded China of its 
agreement to preserve Hong Kong's freedoms 
for 50 years. 

“We will continue to express our deep and 
abiding interests in the freedom and well- 
being of foe people of Hong Kong,” Secretary 
of State Madeleine Albright said before 


See HONG KONG, Page 7 


Easy Money: A Fake Death Overseas 


By Joseph B. Treaster 

New York Tmes Service- 


NEW YORK— S 
to pass on a country 


his car out 
in Smith 


Newsstand Prices 


[Andorra taOOFFLetaion. 

.12.50FF Morocco.. 


if 


\ 


.--iiaooq 

— IBDh 

Caneioorul.600 CFA Ctetar 1000 Hats 

[Egypt £E5£0 ft&jnfon 1250 FF 

f Fiance .10.00 FF Saudi Arabia _K) JO R. 

j Satan 1100 CFA SanagaL— 1.100CFA 

| Italy . m< 2£Q0tJra Sfgfci.. .... - gKV FTBB 

bury Coast. 12S0 CFA Ture&a 1.250 Din 

} Jordan 1250 JO DAE — -IfWODWt 

i Kuwait ,..700 % U.S. MB. (pucj— $L2D 



America, Javier Mozo found himself in 
foe path of a roaring, smoke-belching 
cross-country bos- Swerving off foe 
road, foe car flipped and rolled. 

Somehow, Mr. Mozo crawled out of 
foe wreckage alive. But his brother Ern- 
esto was not so lucky. He died in Mr. 
Mozo’sanns- 

Orat least foat is what Ernesto swrfe, 
Maria Magdalena Santos, and Javier 
Mozo told the Northwestern National 
Life-Insurance Co., which had insured 
Ernesto Mazo’s life for $500,000. 

As confirmation of foe death, Ms. ' 
Santos seat the small Minnesota insurer 
__ since renamed the Reliastar Life In- 
surance Co. — a death certificate issued 
by foe city morgue in the Colombian 
town of Santa Malta. And when an 
investigator fame calling, Javier Mozo 
provided a moving account of his broth- 
er's death and showed him a vanlt in the 
San Miguel Cemetery with a. plaque 
inscribed with Ernesto Mazo’s name. 


But io yet another instance of a fraud 
foat has been increasingly plaguing foe 
American ■ life, insurance industry, 
everything about Ernesto’s supposed 
demise turned out to be false. The death 
certificate had been forged. The 
cemetery vault had been rented- And 
eventually, Ernesto Mozo even turned 
up, very much alive. 

People have been trying to collect on 
life insurance policies without actually 
dying almost since life' insurance was 
invented. Butin the last few years, anew 
twist has emerged in which foe de- 
ception is earned out mostly on paper, 
from forged police reports to false death 
certificates. 

Though the cases may number only in 
foe hundreds every year, they are setting 
off alarms among life insurers. 

More and more residents of the 
United States have ties to developing 

See FRAUD, Page 4 



AGENDA 


Clinton Backs Internet Free-Trade Zone 


WASHINGTON (Combined Dis- 
patches) — President Bill Clinton said 
Tuesday foat the United States would 
ask the World Trade Organization to 
create a “free trade zone” for Internet 
commerce within a year. 

The president made the announce- 
ment as he unveiled a comprehensive 
policy to promote electronic com- 
merce within the United States by lim- 
iting sharply government regulation 
and taxation of Internet activity. 


Mr. Clinton said foe U.S. trade rep- 
resentative, Charlene Barshefsky, 
would present the American position 
to foe world trade body. 

“Electronic commerce is like foe 
Wild West of foe economy,” he said, 
adding, “We hope to harness its full 
potential for increasing productivity 
and growing foe economy, bringing 
prosperity to the American people and 
individuals worldwide.” 

(Reuters. AP ) 


Robert Mitchum, Actor, Is Dead at 79 


AFP 


Mitcham acted well info his 70s. 


LOS ANGELES (AP) — Robert 
Mitchum, 79, who starred in more than 
100 movies, died in his sleep Tuesday 
at his home. 

Mr. Mitcham had been suffering 
from emphysema and was diagnosed 


in foe spring as having lung cancer. 

He remained a star for half a century 
despite a marijuana arrest early in his 
career and other scandals. He brought 
a powerful presence to the screen, yet 
never won an Oscar. 


1 






INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


PAGE TWO 


Revelry and Politics / 'One Country, Two Parties' 


Nostalgia and Wretched Excess as Hong Kong Changes Flags 


H ONG KONG — Hong Kong is one of the wealth- 
iest places on earth, proudly flaunting the highest 
per-capita count of Rolls-Royces in the world 
Even though its sovereignty changed hands Tues- 
day, its status as one of the world’s centers of wretched 
excess remains reassuringly the same. 

Exhibits A and B were the handover balls at the Regent 
Hotel. When the Regent, one of the former colony’s five- 
star establishments, announced in April that it would be 
s tagin g the “Parties of the Century* on two successive 
nights to observe Hong Kong’s return to China, revelers 
from all parts of the world quickly lined up (via fax, post, 
telephone and e-mail) for tickets. 


By Alison Dakota Gee 

Special to ike Herald Tribune 


Telephone and e-mail) for tickets. 

The Regent billed its June 30-July 1 celebrations as 
“One Country, Two Parties,” a tongue-in-cheek nod to 
Beijing’s pledge to view the relationship between Hong 
Kong and China as “One Country, Two Systems." 

The “Handover Extravaganza” on Monday night was an 
imaginative journey back through the British Empire. An 
ersatz colonial governor and Miss Britannia presided over 
the celebration. Snake charmers jetted in from India. Six 
tribal dancers came from South Africa. Dozens of buffet 
tables groaned with delicacies from the former colonies. 

The fare ran from African ostrich tartare to Caribbean 


grasshopper pie to Wolfgang Puck’s gourmet pizzas. (The 
Austrian-born Mr. Puck, chef of Spago in Los Angeles, 
flew in Monday afternoon to represent a former colony, the 
United States, for the two' nights of parties.) Jeremiah 
Tower, the chef-owner of San Francisco’s Stars restaurant, 
brought the cuisine of America's many Chinatowns. 

At midnight, colonialism was symbolically ushered out, 
of the Regent. A rank of Scottish bagpipers marched 
through the lobby and out the front doors, fee whine of their 
instruments trailing behind them. 

Huge Chinese drums began to pound as the hotel was 
transformed into a Chinese palace. Waiters doffed their 
colonial uniforms and'slipped into red silk jackets with five 
yellow stars sewn on. Miss China, sheathed in a tight red 
silk dress, ascended a stage in the middle of the hotel 
lobby. 

And yet, as rambunctious as the scene at the Regent was, 
there were, surprisingly, moments of collective reflection. 

What made fee event more than a well-appointed fete for 
the privileged and the moneyed were the emotional heights 
and depths of watching Hong Kong, with its vibrant econ- 
omy and relative political freedoms, proceed into an un- 
known future under Chinese rule. 

At midnight, the well-heeled crowds huddled around 
television monitors, watching the official ceremonies, as 
Prince Charles handed Hong Kong back to the Chinese. . 
When the British flag was lowered a towering man with a 
red beard and in a kilt, discreetly wiped his eyes. 

When the Chinese president, Jiang Zemin, and foreign 
minister, Qian Qichen, flashed onto television screens, 
several in the crowd hissed. But when the red, star-iaden 
Chinese flag was hoisted up the staff, tables of well-dressed 
Chinese partygoers applauded. 

Sophie Benge, a British Hong Kong resident for four 



(S 3 54 ) each night — hardly seemed to matter. Tickets for 
both nights. 2.800 revelers on Monday and 2,500. on 
Tuesday, sold out. ■ ' ‘ . 

On Tuesday, the Beijing composerTan Dun conducted 
120 members of the Hong Kong Philhannonic Orchestra 
and the ChiJ^se- American cellist Yo-Yo Mam fee .World 


SOU U1C - - — 

premiere ofhis Svmphonv 97, a score Mr: Tan wrote for the 
handover ceremonies. The Cantonese pop star Jacky- Che- 
ung serenaded the crowds. • .• .y 

For those more interested in Hong Kong'-style partying 
than politics, entrance to the Regent galas, especially on 
Monday, was the most coveted ticket in town, m May. the 
waiting list stretched to 500 names, many of whom called 
the hotel daily for a month to check their status. - 
In the period leading up to the event, the chairmen of 
multinational corporations were placing personal calls io , 
the office of the Regent’s general manager. Thomas 
Axmacber, “each asking for one more ticket,” he said, 
rubbing his forehead at what appeared to be fee start of a 
migraine headache. 


i mu. 


; ■•■did to 
; 

! Driviro 


T HE Regent spent 7 million Hong Kong dollars on 
props and decorations alone. Designers trans- 
formed fee lobby, which offers a panoramic floor- 
to-ceiling view of Victoria Harbor, into a massive 
Chinese junk. Representatives of each colony roamed fee 
hotel. A performer made up as an Indian god with eight 
arms and a gold-painted face planned himself in the middle 
of fee Regent’s grand staircase. In another parr of the hotel. 
Melissa, a London stylist flown in for the event, was got up 
wife silver lips, kohl-rimmed eyes and syringes protruding 
from her hair, like a streetwalker from “Blade Runner.” 




1 Tm 




-ijcasr 


M-f ‘ — . SCu-t ...t-ti — frir- 


Food-and-beverage managers report having imported 
000 fresh oysters. 1,500 New England lobsters, 600 sides 


6.000 fresh oysters. 1,500 New England lobsters, 600 sides 
of smoked salmon, 200 kilograms of fresh prawns. 120 


British and Chinese colors were part. of the costumes for tic o days of parties at the Regent 
Hotel, which included a farewell appearance by Miss Britannia and a mock colonial governor. 


gallons of ice cream, and 1,800 liters of fresh orange juice. 
Guests consumed it all wife a startling voraciousness. Some 


years, spent four days creating a Regent ball handover 
costume: The top layer paid homage to the Union Jack; fee 
layer underneath featured a tight tank top with a Chinese 
flag, velvet shorts wife Chasing Dragon embroidery. 

At midnight Monday, she and a group of Five blonde 
London women, each with a clipped accent and a Chelsea 
pedigree, stripped off their colonial sheaths for the camera 
crew of Britain's International Television Network, yelling 
“Welcome China!” 

Seconds later, Ms. Benge, 31, said in a wavering voice, 
her mascara melting into sad smears around her blue eyes. 
‘ ‘In fee light of fee event, it didn 't really seem like fee right 
moment for .a cabaret striptease. 

“My cheeks are quivering,” she said quietly. “My rib 
cage feels so hollow. 

“Hasn't Hong Kong been fine for Chinese people? Now 
feat China is taking over, can you honestly say Hong Kong 
is going to become a better place now?** 

She paused and added: “No, not really. In the past 10 
seconds, life here has changed forever.” 

Others at fee Regent also remarked at the emotional sting 


delivered at the stroke of midnight. “1 have mixed feel- 
ings.” said Kelly Ng. a British-born Chinese lawyer in her 
early 30s working in Hong Kong. Looking stunning in a 
tight, full-length dress cut from a Hong Kong colony flag, 
Ms. Ng seemed the very personification of Britain's most 
positive influence on its Eastern colony. 

“Hong Kong came under U.K. control through violence 
and oppression/’ she said. “We've waited a long rime to 
see colonial rule come to an end. I can't say we haven't 
benefited under British rule. And maybe our return to China 
is not going to be happily ever after. But it is fee righi 
ending. I’m 101 percent for the new China and I hope it will 
be a great success.” 


F OR Tuesday night's party, fee legendary expanses 
of China, its most lush and distinct provinces were 
brought to life in fee form of food (Peking duck. 
Sichuan chili prawns, Mongolian whitefish) and 
entertainment 1 150 fortune tellers. Shanghai acrobats and 
Mongolian wrestlers). 

The price for fee parties — 2./50 Hong Kong dollars 


2,400 bottles of Moel et Chandon champagne and 4,800 
bottles of Wente Bros. California wines arrived in container 
ships. 

Some partygoers seemed determined to recoup feeir 
ticket cost “I’ve had around 15 glasses of Moet et Chan- 
don,” said Louise Soloway, a bleary-eyed British ex- 
patriate. (Average price per glass: $20.) *Tli try to get 
another Five down me before I stumble home — then I 
should be making money off this party.” 

At the hotel’s chocolate shop, attendants handed out 
freshly baked espresso souffles; piles of 15 different kinds 
of chocolate truffles were meticulously displayed on silver 
platters. Many guests were seen wrapping handfuls of them 
in na pkins and stowing them in handbags. 

Even for most enthusiastic Chinese patriots, the night 
brought moments poignant wife melancholia. 

Chris Patten, Hong Kong’s last governor, departed on his 
voyage home aboard the royal yacht Britannia, which cut a 
silent swath though Victoria Harbor. Moving at a graceful 
pace, the ship sailed past fee hotel. 

At feat moment, revelers, Chinese and British alike, w ere 
mostly silent, noses pressed against the Regent's enormous 
windows, w atching the Britannia and a remarkable piece of 
history pass by. 


V' ASHING 

• ;iw 

Sr.-ws 
„ : '.-es t 

: • <4 

Ev- 72:0*0 
if..- . vjiJ ce/l 
... 


Study Reveals Stress of Business Travel 


Reuters 

LONDON — Business travelers, es- 
pecially men, are much more likely to 
suffer psychological problems than col- 
leagues who do not travel, U.S. research- 
ers said in a report to be made public on 
Wednesday. 

Dr. Bernard Liese and colleagues ai 
the World Bank studied insurance 
claims made by business travelers and 
found feat workers who were sent over- 
seas were twice as likely to make claims 
for psychological disorders. 

Those who made two or three over- 
seas trips a year were three times as 


Russia Puts Curbs 
On Alcohol Sales 


Malta Cancels Value-Added Tax 


likely to make such claims. 

“It surprised us — we didn’t expect 
it,” said Lorraine Nagy, a health analyst 


it,” said Lorraine Nagy, a health analyst 
who worked on the study. 

Ms. Nagy said her group initially set 
out to analyze general health claims for 
5,000 staff at fee World Bank. She said 
the research found, as expected that 


those who traveled relatively often filed 
more claims for infections and minor 
physical maladies such as backache than 
those who did not travel. 

But, she added fee researchers then 
noticed fee higher incidence of claims 
for stress-related disorders in those who 
traveled. 

Women fared better, the research 
found. While men who traveled made 80 
percent more overall health claims than 
men who did not, women travelers only 
made 18 percent more. 

Ms. Nagy said she had no explanation 
for the discrepancy. “It could be how 
women work, feeir ability to commu- 
nicate their concerns, maybe to com- 
municate better,” she said. ! ‘These dif- 
ferences exist elsewhere with men and 
women.” 

Dr. Liese suggested that women were 
perhaps “just a bit sturdier.” 

The study found feat the World Bank 


employees, like many business travel- 
ers, were relatively consumed by work 
when on fee road and that pressures on 
such trips were often intense. 

“They work through fee weekend, 
they work though fee night,” Ms. Nagy 
said, adding that travelers then came 
home to face domestic challenges. 

Dr. Liese said: “They first have to 
deal wife what has gone on in the mean- 
time, because no one has replaced 
them.” And, “If you are coming back 
from Asia and yon go through some time 
zones you are always a bit grumpy.” 
Ms. Nagy said feat it was well known 
that couples often had arguments when 
one partner came home from a business 
trip, but feat actual data on such behavior 
had never really been studied. 

The researchers said that offering em- 
ployees a day off at the end of a business 
trip “could go veiy far” in dealing wife 
excess stress. 


The Associated Press 

MOSCOW — Vendors at small 
sidewalk kiosks began removing 
bottles of vodka from their shelves 
on Tuesday, complying wife a pres- 
idential decree curtailing fee sale of 
hard liquor 

As part of the government's cam- 
paign against a thriving black mar- 
ket in vodka and other hard liquor. 
President Boris Yeltsin signed a de- 
cree two months ago limiting sales 
of liquor wife an alcohol content 
over 12 percent to larger stores. 

Under fee decree, small retailers, 
especially fee many kiosks and 
street stalls, will be permitted to sell 
only beer and light wine. 

Mr. Yeltsin also placed a limit on 
fee amount of alcohol produced by 
private entrepreneurs. 


Reuters 

VALLETTA, Malta — Malta abol- 
ished its value-added tax Tuesday, re- 
placing it wife a system of customs and 
excise duties and fulfilling a pledge 
widely credited with having helped the 
Labour Party win fee October election. 

Local radio stations reported wide 
confusion over fee change in the tax 
code following a dispute between re- 
tailers and the government over adjust- 
ing cash registers. 

"Nobody can understand what’s hap- 
pening,” said a frustrated Maltese res- 
ident. "Shopkeepers have been advised 
neither ro raise their prices nor lower 
them until everything is sorted out." 

The value-added tax was introduced 
by the Nationalist Party government on 
Jan. 1, 1995. as Malta prepared to join 
fee European Union. The tax was 
strongly opposed by family-owned re- 
tailers. who perceived it as intrusive. 

The then-opposition Labour Party ' 


said fee tax raised the cost of living and 
promised to repeal it. -• 

After Labour's victory’ in October,^ 


Prime Minister Alfred Sant suspended * 
Malta’s application to join the EU and 


2 A 


proposed a three-tier tax system incor- 
porating import duties, an excise tax on 
products and an excise tax on services, to- 
replace the value-added tax. 

But fee introduction of fee new sysv 
tem has brought a flood. of complaints. 


The Chamber of Commerce said the new; j* 

tax cvsrp_m had rnmttvi “an envtmnm«»nt-*^. 


tax system had created ‘ ‘an environment-" 
of confusion and uncertainty” fort 
Malta’s economy. ■ 

Malta's Association of General Re--, 
taiiers and Traders protested fear retail- • 
ers would have to pay duties on stock;-, 
which could create cash-flow problems* 
The association also said fee government 
should pay for modifications to cash, 
registers to calculate the new taxes. It has 
told its members not to adjust feeir cash - 
registers until an agreement is reached. , ; 


TRAVEL UPDATE 


WEATHER 


- citizen 
Florid* 
}b. Jisaj 
tv jr* 

T ’.ey apreare 
= here Mv 
•’jJtidceaqpi! 


Strikes Ahead on British Airways 

LONDON (Reuters) — Britain's Transport and General 
Workers Union confirmed Tuesday feat it had authorized a 
series of 72-hour strikes by British Airways cabin crew 
starting next Wednesday. 

The decision to proceed wife strike action was take'n after 
the union's efforts to' bring the airline into talks failed. The 
cabin crew employees are striking over a pay restructuring 
package, which is part of fee airline's wider commitment to 
trim £1 billion ($1.7 billion) in costs by the year 2000. 


29 Airlines Fail Group’s Safety Test 

WASHINGTON (Reuters) — A new organization rep- 
resenting air travelers has begun compiling safety ratings for 


Europe 


Forecast for Thursday through Saturday, as provided by Aca; Weather. 


airlines and has failed 29 of them, the group said Tuesday. 
The Air Travelers Association issued its first Airline Safety 


THG — 

www.hotelgiiide.com 
book directly - save money worldwide. 

THG • The Hotel Guide AG, Switzerland 
Fax: + 41 41 379 09 29 B+nail: thg@hoM|gukhuh 


Report Card based on fee fatal accident history of 260 carriers in 
107 countries. The worst crash-to- flight ratios were attributed to 
Aviateca (Guatemala). COPA Panama, Aero Peru, Lan Chile, 
Lauda Air (Austria), Aeroflot Russian International, ADC 
Airlines (Nigeria), Air Mauri tanie (Mauritania). Ethiopian Air- 
lines. China Northwest Airlines and Xiamen Airlines (China). 

The only U.S. airline to be given a failing grade was 
ValnJet. 


Algarve 21*70 

Amswntem 17/62 

Ankara MW 

Attorn 31/88 

Baicofcra 22/77 

Bo*jrarf» JS*W 

Benin 25/77 

Bnoaefc 17«C 

Budapest 27(80 

Copenhagen 22*71 

GoauOe! Sot 23-73 

CUAi 12/53 

Earbirgh 13/45 

Ftoerwa 2477 


Turn here for 


The Brenner state highway, a main link between Ger- 
many, Italy and Austria, was reopened to traffic Tuesday four 
days after a landslide blocked the road near Prato Isarco, north 
of Bolzano. The main highway to fee Sarentina valley, also in 
the South Tyrol region, remained closed as workers were 
trying to clear it from another landslide caused by the tor- 
rential rains that have pelted northern Italy for several 
days. (AP) 


LasPaUnsa 23, 73 


THE INTERMARKET 




Work to restore one of Egypt's most famous monu- 
ments, the Sphinx of Giza, win be completed in December 
after a seven-year operation, Culture Minister Farouk Hosni 
announced Tuesday. tAFPl 




Si Peimfcurg 28/82 

Stockholm 2679 

Suasbowp 2 1/70 

Taibnn /W 

TbttJ 28/82 

Vurtra 2*75 

Vienna 2475 

Warsaw 23/73 

Olteti 2371 


Tomorrow 

High Loo W 
OF OF 
22-71 13*55 s 
lB/64 10/50 C 
28/82 8/48 s 

J2W* 2173 i 
1 9/88 1335 pc 
29/84 18/84 s 
27.80 10/06 C 
18*4 1060 pc 
3086 19/66 pc 
23/73 1661 pc 
24/75 15-53 3 
1481 9/48 r 

14/67 9-48 1 
26/82 1481 pc 
28/82 IB/64 c 
10-M 9'46 r . 
27«J 1461 pc 
29*4 I486 s 
2479 1681 c 
22/71 17*82 i 
1986 1283 pc 
<681 lOSOth 
23,73 3-40 pc 
1064 13(55 pc 
26/73 1782 r 
28*2 18-64 s 
25/77 14«7e 
24/75 17/82 pc 
25*77 1385 pc 
1782 8*46 C 
26*2 1681 c 
11/52 7/44 pc 
34/73 1487 c 
29/84 1986 pc 
28*2 1008 s 
23/73 16/50 C 
ia«4 7 1/52 r 
27*0 1681 pc 
28*2 2086 r 
2073 1884 e 
26*3 18*4 pc 
27/90 16*1 9 
1986 1385 r 


I Sy 

rjj } 



W k- .-i 


UnamaouUv 

Co*J 


LmawMHwMy 

MH 


North America Europe 


Sunny, hoi and dry weath- Unusually warm and dry 
or will expand northward from Ukraine through 


or will Oxpand northward Irom Ukraine through 
Irqm the Sonora desert Belarus into Russia and 
across Utah and Nevada. Finland through Saturday. 
A strong storm In south- Out strong thundersiorms 
eastern Canada will cause will erupt in Poland and 
showers and thunder- western Belarus, snd Irom 
storms with heavy down- the Balkans to wesiern 


pours Irom the Midwest Romania. Windy and cool 
into Quebec end Ontario over England. France and 
through Saturday. Warm Germany with showers and 
and humid in the East. areas of drenching ran. 


through Saiurdoy. Warm Germany with showers and 
and humid in the East. areas ol drenching iam. 


Asia 

Sunny, hoi and dry across 
northern and western 
China, but gusty thunder- 
storms will erupt across 
northeastern China, mainly 
west of Belling. Partly 
sunny, warm and humid m 
Tokyo, ii could thunder- 
storm. Drenching rams are 
in siore for south-central 
China. Hurrtd with showers 
in Hong Kong 


Aknay 

Ball 

Bangkok 

Baemf 

Bomtev 

Caicima 

ChtangMoi 

Catarrtx- 

Hanoi 

HoChiMmh 

Hong Kong 

Mamstttd 

Jakarta 

Karachi 

K. Lunpw 

K Knobafci 

Manila 

N-9wPe*» 

Phnom Penh 

PIhJus 

Rangoon 

S-pmJ 

Shanghai 


Today 

High LowW 
C/F OF 
36*5 18/61 a 
32 89 2170 pc 
31*6 24/75 r 
3&H& 27/80 pc 
2-3/64 KV79, 
32*9 24.75 r 
32 *9 22/71 i 
30*8 26/77 pc 
32-M 27-80 r 
3141 24/75 c 
30*6 2679 r 
41/106 27*0 6. - 
3'<88 23/73 pC 
34*3 26/79* 
31*8 23/n* 
31/86 22/71 ‘si! 
32*9 24/TSp e 
43/108 30*6 s . 
32*9 24/75 ah 
31*8 24/76 r 
32*8 2475 r 
32*9 21/70 pc 
34/93 2577 pc 
31*6 22/71 th 
31-86 28/79 1 
2W82 25/77 r 
32*8 27.-80 r 


IMM IUW . . 

i Low W— 
C/F 

1 1&'86 a y 

1 21/70 c 

> 25-77 c 

I 26/75 i . 

I 2577 r . 

> 2579 , 

I 23/73 c ' 

I 26.79 pc/- 
26/TO pc . 
34-75 p<- . 
I 2577 pc.,, 

I 2582 a • 

I 23/73 pc . . 

26/79 pc . 

I 23-73 ah • 
i 21-70. • 

1 2173 pe- 
- 31-88 i-.. 
r 24.75 pc '* 
25 77 c . • 
2577 c . 

21- 7-5 c ' ' 
24/75 pc ■ 

22- 71 r 
2577 ih 
2577 r , 

l 2676 pc ' 


• * pri- 
nts foi 
beci 
S, 

-rnors. T 
in 

b«.urd ai 
• 5 "*c«n:r 

■ifid ojhe 

r fplv err 
r^ndied - 
machine! 


North America 


Today 

Max LowW 
C/F C/F 


Tomorrow 
nigh LowW 
C/F C/F 


Don’t miss it. A lot happens there. 


Prince Walid ibn Talal is planning to build a $65 million 
Four Seasons hotel in Egypt’s Red Sea resort of Sharm el 
Sheikh, the Saudi entrepreneur’s office announced Tuesday. 
Tbe hotel is a joint venture wife an Egyptian businessman, 
Hisham Taiaat Mustafa. [AFP) 


Middle East 


AbuDhaU 

Bmui 

Cara 

Dornucua 

•brnnaJani 

Linar 

Riyadh 


38-100 26/77 9 
27*0 2170. 
37/98 21/70 6 
30/SC f S/59 a 

28*2 14*7 a 
44/111 19/66 j 
42.-107 28/79 1 


X/m 24/73 S 
27*0 21/70 s 
37*8 21/70 s 
31/86 1559 s 
28*2 1 M 1 a 
0/109 2170 . 
42/107 26/79 a 


Ancimgt 

Manta 

Boston 

Chicago 

Dales 

Dwnr • 

Dame 

HonoUu 

Houston 

iMAnqtfm 

Man. 


21/70 12-33 a 
31/SB 23/73 pc 
26-79 19-66 Ul 
30*6 17/821 
38/TOO 2475 3 
31*8 14/ST pc 
JOTS 18*4 I 
26*2 21'TOpe 
3697 EVTSpc 
24*4 17/63 i 

32*9 23731 


10/98 12 *3 pc 
35*5 22/71 s 
23/73 17*2 sh 
28*2 18*1 pc 
37*8 2475 5 
29*4 72.531 
2*70 18*1 pc 
30*6 22-71 ah 
36-37 24/75 4 
30/86 16*1 pc 
33/91 M/77 pc 


Mnneapofe 

Montreal 

Nassau 

Now Vo* 

QrtonOo 

PtXNTOI 

Son Fran 


To/OfOC- 

Vcncaivw 

Wa&impon 


Today 

High Lm* 
OF C/F 
24/75 13-55 » 
'24,75 19W1 
31*fi 24/75 pe 
37-80 21*70* 
34*3 £3/73 pc 
42-107 27/60. 
21-70 12*3 s 

2170 11/52 pc 
2M4 17-<52 I 
20*6 ID-50 pc 
28/82 21*71* 


Tomorrow 
High LowW 
OF C/F 
. 22/71 1A-5S pc 
27*0 17/82 * 
33/61 25/77 pe 

28.-8S 19*6 Ih 

34/93 24/76 I 
42/107 28/79 s 
22/7J 12*3 4 
22/71 13/55 pe 
2*79 12/53 sh 
21*70 li5Spc 
31/88 19*6 | 


Afcta* 
Cap. Town 
Casabtanca 

Harare 

Lagos 

Na«T» 

Tun* 


28/82 14/57 a 
17-63 a/46 pc 

1fl*6 12,-53 pc 
237.} 11/52 c 
28/8S 22/71 0 
3271 11/33* 
K/97 ZS7I a 


28/82 16/61 3 ' . 
18184 5/41 pe— 
1886 14-77 ».(■ 
24/75 10-50 -s 
27*80 22-71 
2ST3 1 1/52 c . 
36*87 22-71 «"‘- 


Latin America 


Suwi-wA.aa 11/62 -1.81s 9.-46 ^22 1, " 

Carac*. 31/88 23/73 pc 31/88 34/76 ms/ 

Lana 31-70 16,6| oc m.iw 4 


Lras 21/70 1&6I Pc 20-86. 17-82 *. ** 

Mcn» C*y 26/79 15/58 U1 2D68 11*55 C , , 
Hw-fejarwao 38/79 1W86 pc 2D79 21*70 *'• 
-Santogs 5-46 -177 pc «M3'- ,v9l c . 


Ufi8nd: cfoutI »'- c<Jauay. sh-thoweri. Mhunderaarms, -rtr. sl-snow famm 

SMhM.i-taa.W-WaaUw. AI mpi, forwantaand data pravldad by AeeuWwdtwr.bie.fi 1997 


Oceania 


15/51 laSSr 16« 1(V50i 
16*99 1W50 * 14-67 10*50 r 


•The t 
"hn uf 

llpi'.’iUCt 
^Lidcnt 
d-z.i 2 <. 
nan-. lc sr 

io 

! ,v :r 

’ ^ r . ' 

h - r * 14 
flu 

! l " ,K ucti< 
’ Ur S*rv \ 


l t\v o-montli trial 

subscription. 
Save up to 60 % 


COUNTRY/ CURRENCY 


2 MONTHS DISCOUNT | 
OFFER OFF 

PRICE :COvEft PRICE ' 


Try a special, low cos) 2-month trial subscription to the 
International Herald Tribune to enjoy delivery to your 
home or office every morning AND save up to 60% off 
the newsstand price. 


AUSTRIA 

. BELGIUM/LUXEMB. 
j DENMARK 
! FINLAND 
: FRANCE 
' GERMANY 
GREAT BRITAIN 
, HONG KONG 
I iTAir 
i JAPAN 
' MALAYSIA 
NETHERLANDS 
NORWAY 


55' 

60 c 

5A 

30' 

60" 

60'- 

53’ 

57' 

60* 


Yes, I would IiJcb to Hart receiving (ha fcifamatencrf Herald Tribune. 

□ My cheek is endued Ipayoble to the H7] 

OiargBiny; QAmex ; DDwws QVISA □Acobu □ MosferCcd □ Eurocord 
For tx-US and Askti prim, credit conk will be dnrged ki French Fanes of currant mte. 


Cord No., 


Exp. Date;, 


Signalure: 

For bvstnou ordoR, indicate your VAT No: 


[IHI VAT N unbar FR7A732021 12d) 


SINGAPORE 

SS 

1 46 

32 : 

43’.-. 

SPAIN 

PTAS 

11,700 , 

5.000 ' 

57"', ! 1 

SWEDEN 

SCK , 


350 ; 

58% ; : 

: SV/ITZERLAND 

CHF 1 

166 

66 i 

60'.', i - 

[ USA 

5 

7o 

33 ! 

So' v 

1 fOC: COUNTRIES, PLEASE CONTACT TOUR NEARE5T IHT OffICE 


Mr/Mn/Ms Family Name:. 


Coiintrv- 

HomaWNo: Buji aesj ty No: 

E-Mail Add nm*- 

f 114 “W®* *»fHTqf: D\aak □ hotel DaWina OoiW 
□ I da not wl« to nch* - infemiaHoii from atW earefbtyim^oaiojnies 

or hx to: htimialKmol Herald Tribune 

BiROPE, MIDDLE EAST & AFRICA 


**■ 


2-7-97 




-tuy! 


■ J^MIrw] 1 -800-a62-2B8z 


MoJing Address,. 

Clly/Cod* 






A* 1„ , 

i h, J| 'H 

i ‘tt irK 


HA7M V s 


* 



* 




INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


THE AMERICAS 


PAGE 3 


Volcano Ash 


Mexico City 

C.xtfpdnlhrOlf SrjgFnmOofimllt* 

MEXICO CITY — The Popocat- 
epetl volcano has blown a cloud of ash 

■ and acrid gases over Mexico’s sprawl- 
ling capital in its biggest explosion in 

■ 70 years. 

; A mushroom cloud that formed 

■ above the crater Monday blew across 
; the city, bringing a drizzle of black ash 

• ! thar smeared car windshields and 
'forced the closure of the airport. 

! Alarmed residents complained of 

• burning eyes and throats, and the au- 
;thorities urged the city’s 18 million 
people to stay indoors and close their . 
; doors and windows. Those who 

! needed to go outside were advised to 

■ wear goggles and a face mask. . 

! Drivers, forced to repeatedly get out 

• to wipe their windshields, were stuck 
I in traffic jams for hours. The author- 
ities closed the capital’s international 

' airport, diverting flights to the Pacific 
! resort of Acapulco. 

■ The volcano continued to nimble 
! Tuesday after Monday’s activity, but 
■officials said that the volcanic action 
| appeared to have died down. 

• .The majestic, snow-capped Popo- 
4 Icafcpetl -is 17,890 feet (5.500 meters) 

[ ■ high, and lies 33 miles (50 kilometers) 

; southeast of the capital. 

Americans Waste 
. One-Quarter of Food, 
government Says 

| The AutKiiaed Press • 

■ WASHINGTON — More than one- 
fpunh of the food produced in the 
United States spoils, is tossed out nn- 
u{«d or goes uneaten on the plate, the 
government said Tuesday. 

__ ■ “By recovering a fraction of this food, 
could ger food to those in need in- 
stead of tossing it” into the trash bin. said 
Agriculture Secretary Dan GlicJanan. 

He urged grearer use of programs that 
cpUea leftover food front restaurants 
and farms and distribute it to the poor. 

•The Agriculture Department study 
estimated that food lost in retail stores, 
restaurants and people's homes in 1995 
amounted to more than 96 billion 
pounds (44 billion kilograms) — more 
i&an one quarter of the total U.S. food 
supply of 356 billion pounds. 

, ; The vast bulk of the food is lost in 
people's homes, where food spoils or is 
thrown away uneaten, and at restaur- 
ants. 








K-.ii-.- 

Popocatepetl spewing ash over Mexico's capital in February. Monday's explosion was the worst in 75 years. 


activity Monday, burning rocks poun- 
ded down the volcano's sides, threat- 
eriing .nearby villages. Ash blew 
mostly to the east, landing as far away 
as Veracruz, a port on the Gulf of 
Mexico 180 miles away. 

Some authorities announced a red 
alert and prepared to evacuate people 
living near the volcano. But emergency 


officials quickly denied they had issued 
the alert, which means the volcano is 
becoming dangerously unstable. 

The Interior Ministry said the police 
were standing by to evacuate people if 
the volcano grew seriously volatile, 
but said activity had dropped notably. 

Experts said the volcano nad registered 
its most violent activity since 1925. 

' Hie volcano has blown our ash and 


steam several times this year, but Mon- 
day’s explosion marked the first dme . 
the grit- like ash reached Mexico City. 

Army troops and emergency per- 
sonnel were rushed, to 30 villages at the 
foot of Popocatepetl to prepare for an 
evacuation. But inhabitants were re- 
luctant to leave their homes because 
they feared their possessions would be 
srolen. (Reuters, API 


Amendment on Amendments? A Retreat on Immigrant Issue 


WASHINGTON — Generally speaking, constitutional 
amendments are a tough sell. In fact, states still have not 
ratified the one that Congress passed 'in 1810 barring U.S. 
citizens from accepting titles of nobility from foreign 
governments. 

That’s right-' No more counts, baronesses, shoguns, 
ayatollahs, Knights of Malta, Sultans of Swat, Dukes of 
Earl, Men Who Would Be King or Admirals of the Bathtub 
Fleet. Just Mr. and Mrs. America. 

To ratify NONO{No Nobles Amendment) and make this 
egalitarian dream come true. Representative Thomas J. 
Bliley Jr., Republican of Virginia, may have hit on a good 
idea — a constitutional amendment on constitutional 
amendments. 

Under the resolution that Mr. Bliley and a fellow Vir- 
ginia Representative, Virgil H. Goode Jr., a Democrat, 
'introduced last week, state legislatures could initiate a 
constitutional amendment. . < 

If rwo- thirds of the states approved it, the amendment 
would go to Congress, where two-thirds of the House and 
Senate would have to disapprove it to shoot it down. 

If the amendment survived, then it would head back to 
the states, needing final ratification by three-fourths of the 
legislatures. (WP) 


WASHINGTON — Nearly 500,000 noncitizens who 
faced the loss of their disability benefits next month have 
been spared. 

The fine print of the balanced budget legislation passed 
by both the House and Senate last week restores benefits to 
virtually all the nation’s legal immigrants who had earlier 
been notified that they would be cut off under the welfare 
law passed last August' 

The 1 lth-hour decision eliminates one of the most con- 
troversial elements of the welfare reform law and the source 
of great anxiety in the nation’s immigrant communities. 

As the law was originally written, most legal immigrants 
who are not citizens were made ineligible for disability 
benefits. (WP) 


Quote/ Unquote: 


Representative Tony Hall, Democrat of Ohio, com- 
menting on the reaction to his bill that calls for Congress to 
apologize formally to blacks for slavery: “I was surprised 
at the hate out there. It’s very much alive, the hate, the 
division, the wounds. The fact this little, one-sentence bill 
has produced so much firestorm, so much animosity. 
amazes me. I did nor anticipate this. ’ ' (WP) 


Doctors Unite to Fight 
Corporate Intrusion 


irilWn nation’s employees strive to hold down 

B F V^-r ‘ c the costs, they have turned to lower-paid 

Nm York T,me * Seni J nurse-practitioners and physicians ^as- 

BOSTON — In the first large or-' sistimts to provide more of the care. 


ganized backlash against what they call 
die industrialization of medicine in the 
United .States, many doctors of Mas- 
sachusetts’ renowned medical schools 
and teaching hospitals are calling for a 
moratorium on corporate 'takeover of 
health services ana for curbs on the 
companies' intrusion into doctors' de- 
cision-making. 

1 ‘It’s time to put a srop to it, ’’ said Dr. 
Bernard Lown, 76. who, as chairman of 
the Ad Hoc Committee to Defend Health 
Care, is organizing the campaign. 

“We are troubled by any organiza- 
tion that places an interface between the 
patient and the doctor,” said Dr. Lown, 
a cardiologist and Harvard University 
professor who shared a Nobel Peace 
Prize for organizing physicians against 
nuclear war. 

For a couple of years, America's 
once- independent, self-employed doc- 
tors have been agitating against the pro- 
liferating managed-care organizations 
that they see as jeopardizing their au- 
thority, jobs, income and patient care. A 
few thousand doctors, mostly in Cali- 


Thev have also second-guessed the 
medications doctors prescribe. 

In Massachusetts, 14 health mainten- 
ance organizations cover 45 percent of 
the population, one of the highest rates 
of any state. But with a surge of con- 
solidation of hospitals and health ser- 
vices in the post two years, and the recenr 
arrival of investor-owned hospital cor- 
porations in the state, many doctors say 
they have come under relentless pres- 
sure ro subordinate patients' interests to 
those of accountants and stockholders. 

Managed-care organizations maintain 
that they have arrested the once-soaring 
cost of health care, have raised the qual- 
ity of care by tracking doctors ’ success in 
treating patients against national norms 
and have turned the focus of medicine 
from treating disease to preventing it. 

Some doctors acknowledge that their 
professions' excesses helped bring on 
the shift to managed care. 

“We don’t warn to go back to the 
days of doctors ripping off patients,'' 
said Dr. Jerry Avom, a geriatrician and 
Harvard professor and one of the cam- 
paign’s leaders. “Unless we acknowl- 
edge that, we're nor going to be taken 
seriously.” 


few thousand doctors, mostly in Cali- Harvard professor and one of the < 
fornia and Florida, have joined unions to paign's leaders. “Unless we ackn 
challenge the organizations. edge that, we're nor going to be t 

But this is the first effort by doctors to seriously.” 

call for changes in the practices of the 

managed-care groups. It comes as con- 
sumer groups and stare governments T T C TV*et 
across America are pushing for new w 1C91 uaXClJ’ 

laws to weaken the power of health /yptvt 1 A 1 

maintenance organizations with tough- Ul liUCl6HT ATS6DL31 
er regulatory control. 

By the middle of June, said Dr. Susan him York Times Sen ice 

Bennett, 50, a primary-care physician WASHINGTON — The Energy 

and a campaign organizer, 1,940 Mas- partmenr plans to carry out the first 
sachuserts doctors, most with ties to series of nuclear weapons experim 


Harvard, had signed the committee's 
“Call to Action.” 

The Massachusetts doctors' appeal of- 
fers no alternative to the current health- 
care system, but the doctors' dismay at 
its condition is stated in static terms. 

. “Mounting shadows darken our call- 
ing and threaten to transform h ealin g 
from a covenant into a business con- 
tract.” the petition says. 

The call is scheduled to be published 
in the October issue of The Journal of the 
American Medical Association. Other 
doctors will then be invited to join. 

Doctors, most of whom now depend 
on health maintenance organizations for 
patients, have bristled over die organi- 
■zations' constraints for years, from deny- 
ing treatments the doctors recommend to 
dictating the duration of office visits. 

As health maintenance organizations, 
insurance companies, hospitals and the. 


AVw York Times Sen ice 

WASHINGTON — The Energy De- 
partment plans to carry out the first in a 
series of nuclear weapons experiments 
Wednesday intended to assure the 
safety of the United States' aging nu- 
clear arsenal. 

Department officials said the tests 
would not violate the Comprehensive 
Test Ban Treaty. 

Some environmental and arras-con- 
trol organizations have tried to stop the 
tests, arguing that they are inconsistent 
with a post-Cold War policy of reducing 
the nuclear arms threat. 

But the government maintains that 
the tests, in which scientists at the 
Nevada Test Site will set off high- 
powered explosives to measure their 
effect on plutonium, are needed to learn 
how to assure the reliability of aging 
nuclear weapons by some means other 
than blowing them up. 

The experiments are allowed, the de- 
partment argues, because no nuclear 
reaction will occur. 


2 Accused of Trying to Sell Nuclear Weapons 


By Mireya Navarro 

• Sets fart Times Sri Yk e 

MIAMI — Federal agents posing as 
drag traffickers said their negotiations 
with two Lithuanians began almost be- 
1 -jiignly two years ago with die men from 
The former Soviet Union simply wanting 
to smuggle stolen cars to Lithuania. 

Bui by the time the two were arrests d 
Friday, investigators said the men were 
ready to supply munitions, anti-aircraft 
missiles and even tactical nuclear 
weapons. 

' .Alexander Progrebovsky, 28, a Lith- 
uanian citizen living in Palm Beach 
County. Florida, and Alexander Dari- 
chev, 36,- also from the former Soviet 
Union, were being held without bond. 

. They appeared before a federal mag- 
istrate’ here Monday on charges that 
included conspiring: ro deal.in explosive 


Away From 
Politics 

■ A price increase to 33 
cents for a first-class stamp 
has been approved’ by die 
Postal Service board of gov- 
ernors. The 32-cent rare took 
effect in .Jah. 1,,1995. The 
hoard also proposed a new 
30-eent rate for bill payments 
and other transactions using 
reply envelopes that can be 
handled easily by automated 
machinery. (AP/ 

• Tbv death of a woman 
who underwent prolonged 
^ liposuction has been titled an 
accident Judy Fernandez, 47, 
died as a result of hemody- 
namic shock, which involved 
blood loss and too much of 
. toxin :lidocaine, the cor- 
•'"Viner's. jrffice in Orange 
- County, California, said Mrs. 
Fernaridez received more 
than I4:thtts of lidocaine- 
laced fluids during extensive 
liposuction and facial plastic 
surgeiy March 17.- (AP) 

•A 44-year-old convicted 
murderer died in Ken- 
tucky's electric chair in die 
stale’s first execution in 35 
years.. Harold McQueen was 
convicted of killing a 21- 
year-old store clerk. Rebecca 
0 '"Hearn , in a 1980 robbery 
while he' was high on 
drags. (Reuters) 

$*An 1 1 -year-old boy was 
■* stung hundreds of times idler 
he disturbed a football-sized 
hornet's nest while' climbing 
a hedge in his back yard in 
Fmr Lauderdale, Florida. Ca- 
sey Jones was hospitalized in 
serious condition after the at- 
tack. (API 


materials without a. license and “to 
transfer and dispose without lawful au- 
thority nuclear materials knowing they 
will be used to do substantial damage to 
property." 

Officials of the U.S. Customs Service 
said the case showed how readily .avail- 
able illegal weapons from the former 
Soviet Union have become since the 
breakup of that country in 1991. Mi. 
Progrebovsky and Mr. Darichev prom- 
ised surface-to-air missiles and tactical 
nuclear weapons, the officials said, and 
proved to federal investigators that they 
could deliver them. 

“There are weapons out there for sale 
and people available to sell them to 
anyone,’ said Dennis Fagan, head of 
the Customs Service here. “If it wasn’t 
federal agents but narcotics traffickers, 
what were they going to use them, for? 
It’s scary.” 


Because their investigation was con- 
tinuing, the officials refused to provide 
background on the two men or say 
whether they were part of a larger crim- 
inal network. 

Over numerous meetings and tele- 
phone conversations in Miami, Lithu- 
ania and London, the two men offered to 
sell Bulgarian-made weapons and pro- 
vided detailed information and docu- 
mentation about how they would be 
delivered by cargo vessel from Bulgaria 
to Puerto Rico, according to an arrest 
affidavit. 

Although the agents never saw the 
weapons, officials said the two accused 
men supplied the agents with enough 
information to convince them that'they 
could make good on their word. 

A federal grand jury is expected to 
. meet next' week to consider an indict- 
ment 


0 

CEYLAN 

INTER-CONTINENTAL 

. ISTANBUL 


KMTUWIfinauCBI 










SMALL LUXURY HOTELS 
' Q F.THE WORL D 

HOTEL’- 



Sale 

33V S % to 50* 

off original prices 
on selected 
merchandise 
from our men’s 
collections 



OIH bouse from 16 corny 
in Btnguody, centre of Beaune. 
53 roon&air-cotidirioned. 
meeting facilities. 

. To reak* a reservation - 
inftttrt cadi tnJI Iter n009A7S IS 
IhGmpst*' cdiiflfltirrOJJOSl 19 12 
ra nr t-aw jihbwj - cJl &rtfnun . 
+32 (• J7*35*U . 



s U L K A 

• wv>s ■Jf- run* aPTRUrHiLM mmmww 1 emrmKM 

19 Old Bond Street London OlTl 493 4498 
2 Rue de Castiglione Paris 01 42 SO 38 OS 


The city is magical 
The hotel is magnificent 

The Ceylati Inter-Continental it un mfw'siic cemfriaifioii of 
luxurious interiors and wrpiccahle service For those it'bo 
Jffloip tlx fast, if is the only choice in Istanbul 

For reservations, contact your travel agent, or iht 
Inler-CoHiinmtal hotel or sales office iiftiiwt yen, 

France 0800 90 5555 toll-free, Germany ot SO 853955 toll-Jree 
U K.: London (otii) 847 2277, oulsuir London 0315 58M4-I 
US. A t Boo 127 oioo toll-free. 

Ceyltrn Inier-Conliiieiiliil Istanbul. Asher Oca^i Cad. Wo. t. 
80200 Tiifeswt JstairfcwJ, Turkey Tel: (no) 212 Jit.2i2s 
. Fax: (90j2t2 231 2180 
r-miTifjsMnW@'jn{rrrori!f com 

One VorU. One Hotel 
Uniquely Inter-Continental. 






PAGE 4 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY; JULY 2, 1997 

INIERNAnONAL 


Iv 


U.S. Gets a Little Tougher on Who Can Buy Supercomputers 


By Jeff Gerth 

Nm York Taws Service 


WASHINGTON — Addressing con- 
cerns about the sale of American su- 
percomputers to Russia and China, the 
united States has added 13 foreign or- 
ganizations to a list of groups that it 
contends are involved in secretly pro- 
ducing nuclear weapons and that will 
now require special federal approval to 
buy American technology. 

Six organizations in Russia and China 
will now be on “an alert to exporters” 
and additional names will be added 
soon, William Reinsch, undersecretary 
of commerce feu- export administration, 
said Monday. 

But some people who follow the issue 


criticized the publication of the list as too 
little, too late, pointing out that dozens of 
American supercomputers, many with 
possible military applications, have been 
sold to Russia ami China since 1996 
without federal licenses. 

Monday's list, published in the Fed- 
eral Register, includes organizations in 
India, Israel and Pakistan as well as three 
scientific organizations in China and 
two research institutes and a ministry in 
Russia. 

Congress raised concerns after die 
disclosure of the sales to Russia and the 
discovery that China bad obtained 47 
supercomputers. American intelligence 
o fficials said the Chinese could use the 
computers to design more efficient or 
lighter nuclear warheads that could be 


S 


iut on miss iles able to reach the United 
tales. 

The sales did not require government 
approval because they were made under 
greatly relaxed export controls for su- 
percomputers issued by President Bill 
Clinton in 1995. Under those rules, the 
gove rnment transferred to companies 
the responsibility for screening buyers to 
ensure that they were not diverting sen- 
sitive technology to militaiy uses. 

“This is a good first step, but it’s a 
baby step, and in the case of the Russian 
nuclear weapons lab, it comes too late,” 
said Gary Milhollin, director of the Wis- 
consin Project on Nuclear Arms Con- 
trol. 

Mr. Milhollin was referring to die All- 
Russian Scientific Research Institute of 


Technical Physics, which was added to 
the alert list Monday. 

Last year, Silicon Graphics Inc. of 
Mountain View. California, sold super- 
computers to the institute, saying it did 
not seek government approval because it 
was unaware that the institute was also a 
weapons lab. 

But the institute's nuclear weapons 
role has long been widely known, so 
much so that the Commerce Department 
felt no urgency, until recently, to include 
it on the list, according to department 
officials. Had the institute been put on 
the blacklist earlier, the sale would have 
been subject to federal review and prob- 
ably would not have happened, the of- 
ficials also said. 

The Justice Department has opened a 


criminal investigation into Russia s pur- 
chase of supercomputers in the unn 

St When announcing the relaxedexpon 
controls for supercomputer W 1 
White House promised to keep exporters 
informed of '‘potential proliferation and 
other security risks." But in early 1996 
foeadministnmon turned down a request 
by federal nuclear expe/ts to fiilfiil that 
obligation, out of fear of offending some 
countries or compromising inwlugence- 
gathering methods, officials said. 

The administration only published the 
first name on the list this year after 
Russia stunned proliferation experts by 
announcing that its nuclear weapons lab- 
oratories had acquired American super- 
computers. 


Arabs Assail Violence 
By Palestinian Security 


By Serge Schmemann 

New York Times Service 

JERUSALEM — Demonstrating 
growing anger over the brutality of their 
security forces, thousands of Palestin- 
ians chanted angry slogans against the 
Palestinian Authority in Gaza City on 
Tuesday at the funeral of a man who died 
alter being beaten by security agents. 

Apparently in an attempt to counter 
- the rage, Yasser Arafat, the head of the 
Authority, ordered an investigation that 
■ led to the arrest of eight members of 
Force 17, an elite security unit whose 
duties include guarding Mr. Arafat 
Their trial began Tuesday evening, and 
was expected to conclude with heavy 
sentences. 

In die West Bank city of Hebron, a 
Palestinian march called to protest 
posters depicting the Prophet Mo- 
hammed as a pig turned violent Tuesday, 
ending with the wounding of two Israeli 
soldiers by a pipe bomb and the wound- 
ing at least 35 Palestinians with robber 
ballets. 

At the same time, Israel Radio re- 
ported that Mr. Arafat met with a senior 
Israeli general on Saturday, marking the 
resumption of security cooptation be- 
tween the Palestinian Authority and Is- 


rael after a three-month freeze. Israeli 
newspapers said the meeting followed 
several other contacts among Israeli, 
Palestinian and American security of- 
ficials. 

The news of the meeting was ac- 
companied by reports that a standoff 
between Jewish settlers and Palestinian 
protesters in the Gaza Strip ended when 
the Israeli Army agreed to remove a 
memorial to a slain Israeli soldier in the 
Gaza Strip, and Palestinian protesters 
were cleared by Palestinian police from 
a site they had occupied for 30 day s near 
a Jewish settlement. 

At the funeral in Gaza City of Nasser 
Radwan — a 28-year -old father of three 
who died Moaday, a week after his ar- 
rest, of a fractured skull — protesters 
carried signs saying: "Arafat, you are 
not one of us! Take your dogs and 
leave!” 

Mr. Radwan was the 14th Palestinian 
to die in the custody of Palestinian se- 
curity services since the Authority took 
control in 1994. The demonstration at 
his funeral reflected both the increasing 
rage over the brutality of the various 
Palestinian security services, and more 
generally the growing frustration with 
Mr. Arafat's Palestinian Authority, 
which has been unable to secure either 



Iffldi A* Umm/^ Fr-n.i-l’W—r 

An Israeli soldier carrying a comrade wounded by a pipe bomb Tuesday in the West Bank town of Hebron. 


peace with Israel or better living for the 
majority of Palestinians even as some if 
its officials have amassed conspicuous 
privileges and wealth. - 
Mr. Rad wan’s death provoked special 
anger in Gaza because it involved a per- 
sonal dispute between him and a member 
of Force 17, Mahmoud Zayyer. 


On June 23. Mr. Zayyed, a bodyguard 
for a senior officer in the force, arrested 
Mr. Radwan. Several hours later, Mr. 
Radwan was admitted to a hospital with 
a fractured skull. 

In the ensuing outcry, Mr. Zayyed and 
seven other members of Force 17 were 
arrested 


■ Offer to Disgruntled Minister 

Prime Minister Benjamin Netanyahn 
tried to calm Foreign Minister David 
Levy on Tuesday by offering him day- 
to-day control over peacemaking with 
the Palestinians, Reuters reported. Mr. 
Levy threatened to quit Monday. 


Gulf War Weapons Hyped, Study Finds 

Pentagon and Arms Makers Both Exaggerated, U.S. Report Says 


The Associated Press 

WASHINGTON — A newly declas- 
sified report says that the Pentagon and 
weapons makers overstated the effec- 
tiveness of high-technology aircraft, 
bombs and other systems during die Gulf 
War. 

The congressional report says that 
laser-guided bombs and Tomahawk 
missiles were less effective than report- 
ed. chat aircraft touted as able to attack in 
all conditions had trouble in clouds or 
dust and that the F-117 Stealth fighter 
may not have been the invulnerable sur- 
prise weapon that its supporters said it 
was. 

Although the report analyzes perfor- 
mance in a conflict more than six years 
ago, its conclusions could weigh on 
multibillion-dotiar decisions that the 
Pentagon and Congress will make in 
coining months, particularly on tbe B-2 
Stealth bomber. 

The report cited “a pattern of over- 
statement” by weapons manufacturers 
and defense officials in connection with 
high-tech weapons. 


The F-117A conducted 1,788 missions 
during Operation Desert Storm, mostly 
through the densest portions of the Iraqi 
radar-guided air defenses, and suffered no 
losses and no battle damage whatever.” 

He did acknowledge a degree of over- 
statement, particularly the assertions of 
“one shot, one kill” for laser-guided 
bombs. 

‘‘There certainly were some examples 
of such hyperbole.” Mr. Frostic wrote. 
“Nevertheless, no one has ever seri- 
ously attempted to argue that one-shot, 
one-kill is a realistic expectation.” 

. The report made these key points: 

• The Pentagon said that laser-guided 
bombs dropped by the F-117 hit then- 
target 80 peraait of foe time, but analysts 
found that a third of those “hits” could 
not be confirmed. ‘‘Desert Storm data do 
not fully support claims for the F-217’s 
accuracy,” the report found. 

• Despite air force assertions that the 
F-l 17 achieved complete surprise dur- 
ing attacks on the opening night of the 


war in January 1991 , after-action reports 
indicated that some Stealth fighters were 
fired on before they dropped their 
bombs. 

• Although the F-117 avoided down- 
ing and damage better than any other 
plane, it was used exclusively at night, 
whereas aircraft that sustained damage 
flew daylight missions. 

• Tomahawk cruise missiles were less 
accurate than reported, although far se- 
curity reasons the missiles' actual ac- 
curacy was deleted from the report. 
Clouds, humidity and dust hampered the 
F-16 fighter's ability to deliver guided 
munitions, contrary to manufacturer as- 
sertions that the plane performed its mis- 
sion “no matter what the weather, day or 
night” 

Long-term Pentagon spending plans 
emphasize laser-guided bombs and 
cruise missiles. And the Pentagon is 
planning a considerable investment in 
radar-evading aircraft, with as much as 
S227 billion earmarked. 


William Leonhart, 
Former U.S. Envoy 
To Tanzania, Dies 

The Associated Press 

- WASHINGTON — William 
Leonhart 78, the former U.S. am- 
bassador to Tanzania and 
Yugoslavia, died here Thursday of 
heart failure. 

President John F. Kennedy 
named Mr. Leonhart the first U.S. 
ambassador to Tanzania, when the 
country became independent in 
1962. He was the envoy to 
Yugoslavia from 1969 to 1972. He 
later helped found the International 
Institute of Strategic Studies and the 
National Defense University. 

Sir Joshua Hassan, 81, a former 
Gibraltar chief minister who led re- 
sistance to Spain’s claim of sov- 
ereignty, died there Tuesday. 

Annie Fratellini, 64, noted 
French female clown and founder of 
thenatiou's first circus school, died 
here Tuesday of cancer. 


Mir Now i Stabk i > 
But Glitch Halts 
Oxygen Generator - 

C.mpiM In Our Si# Fm ttyuRin 

KOROLYOV. Russia -V Thb| 
space station Mir, damaged -last 
week in a .docking accident,; ®. 

* ’stable’ ’ at presenr but may require ] 
inside and outside inspecriaq, mis-; 
sion experts said here Tuesday. 

“We can draw only oite; can 
elusion as of today — the situation:, 
on Mir is stable." Viktor Blagov, 
the deputy flight director, saod at a ,, 
news briefing in the space center 
outside Moscow. 

He said the three men aboard 
two Russians and an American — ^ 
had folly recovered from the.stress 
that followed the coltiston.last 
Wednesday. “They are working as 
planned, or even more,” he^sakL 
“They are sleeping normally.” 

But the crew ran into more trou- .A 
ble Tuesday, this time with a new j 
oxygen generator. •: 

Frank Culbertson, the American ■ 
director of the U.S. shuttle-Russian ' 
Mir program, said that the generator ; 
had to be shut down after a cooling 
loop overheated. The problem is 
evidently a valve, he said, and it is J 
unclear just how long it will take to J 
repair the device. 1 

The crew members will have to 1 
use so lid- fuel canisters to produce 
oxygen until they can restart the 
generator. 

The solid-foe! canisters are un- 
reliable — one burst into flames in 
February, causing a dangerous fire. 
The crewmen now stand by with fire 
extinguishers and emergency masks 
each time a canister is activated 
Mission control has given the Mir 
crew instructions for a spacesuit 
walk inside tbe station to try to 
restore power supply from batteries 
in the damaged module, which was 
depressurized by the puncture. 

Mr. Blagov singledoot the Amer- 
ican, Michael Foale, for {raise, say- 
ing that he played an active part in 
closing a hatch after the collision. 

A cargo of repair materials, in- 
cluding electric cables, connections 
and a “hennoplate," has been 
loaded onto a new Progress freight- 
er, which is to be launched on Sat- 
urday morning. ( Reuters , AP ) 


I 


Aid to Revive Albania Urged 


CcB/pdat by Our Sug Froth Ou/haehrj 

TIRANA, Albania — A European 
envoy, Franz Vranitzky. called Tuesday 
for economic aid to prop up and revive 
Albania after its largely peaceful general 
election on Sunday. 

But President Sali Berisha’s Demo- 
cratic Party, headed for defeat by the 
Socialists, declared that it would chal- 
lenge some results. 

Mr. Vranitzky, who negotiated a deal 
between Albania's squabbling political 
parties in March to enable foe early 
election, had a brief meetings with Mr. 
Berisha and interim Prime Minister 
Bashkim Fino soon after arriving in Tir- 
ana. 

The former Austrian chancellor said 
he was told by Mr. Berisha that he had 
accepted the verdict of foe people, which 
meant his Democratic Party would be 
entering the opposition. 

But Mr. Vranitzky, head of foe 450 
observers of foe Organization for Se- 
curity and Cooperation in Europe, said 
the president gave no indication whether 
he would step down after five years in 
post-Communist power. 


claimed for air power in Desert Storm FRAUD: An Easy Way to Cheat U.S. Insurers , Fake Death Far From Home 

and what actually occurred was some- •/ 


“No, he did not mention it, and I did 
not ask him,” the Austrian said. ? 

Diplomatic sources said Mr. Berisha . 
-look tired and glum during the meeting 
with Mr. Vranitzky. 

The president admitted Monday that 
foe Democrats had lost the election and 
many Albanians interpreted foe state- 
ment as a hint he was stepping down. 

As head of state. Mr. Berisha has to 
wait for Parliament to be convened be- 
fore he can offer his resignation. 

Results declared in 25 of 1 15 districts 
run under majority roles confirmed a big * *. c 
swing to the Socialists. They won IMA ? 
seats, with two more going to their So-*^ * * 
rial Democratic allies. 

The Democrats captured three seats 
while the remaining go through to a run- 
off next Sunday because no candidate 
won the 50 percent required for victory 
in foe first round. 

“We have numerous problems in 
many zones, even up to assassination,” 
said Tritan Shehu, leader of the Demo-, 
cratic Party. “We have been alerting foe 
Central Electoral Commission, and we 
will file complaints.” (Reuters, AP > 


BRIEFLY 


times substantial.” foe report by foe 
General Accounting Office concluded. 

“Even under the generally favorable 
tactical and environmental conditions 
prevalent during Desert Storm, the ef- 
fectiveness of air power was more lim- 
ited than, initially expected or sub- 
sequently claimed.” 

In a rebuttal written while foe report 
was still classified, Frederick Frostic. 
deputy assistant secretary of defense for 
requirements and plans, called the anal- 
ysis overly simplistic. 

Mr. Frostic said that foe General Ac- 
counting Office failed to factor in that 
foe weapons were used against foe 
toughest modem defenses, which made 
comparisons with older weapons im- 
possible. 

“The GAO authors go to consider- 
able lengths to denigrate foe value of foe 
F-117A by suggesting that foe Iraqis 
were able to detect the aircraft,” Mr. 
Frostic wrote. 

But be pointed to the “fundamental 
point which the authors make too little of: 


Continued from Page 1 

countries, where it is easier to fake deaths. And 
as American insurance companies extend their 
global reach, they are aggressively selling 
policies in countries with less rigorous stan- 
dards for record-keeping." 

In most of these fraud cases, a central thread 
is a trip abroad, preferably to some place trying 
to cope with an upheaval like an earthquake, a 
flood, or, perhaps, a civil war. But any place 
will do where official record-keeping is slip- 
shod, civil servants earn survival wages and 
bribery is a cultural hallmark. 

The typical coo artist, investigators say, is a 
Third World native who has lived in the United 
States for a few years, has bought life insurance 
and derides to trite a trip back home. During foe 
visit, calamity strikes and the beneficiary files 
an insurance claim. Ernesto Mozo, for example, 
had been visiting Colombia from his new home 
in Miami, where be and his wife worked for an 
import-export firm. 

fEmesto Mozo was jailed briefly in Colom- 
bia, and a U.S. warrant is out for his wife’s 
arrest. Javier Mozo merely walked away.) 


“There are lots of claims coming out of 
Haiti, Jamaica, Mexico, Nigeria, Yemen and 
other Middle Eastern countries. Eastern Europe 
and foe former Soviet states," said Steven 
Ram bam, the head of Pallorium Inc., a private 
investigation firm in Manhattan that has 
handled a dozen of these cases. 

The swindlers are usually not career crim- 
inals, insurance executives say, but men and 
women who see .their life insurance policies as 
irresistible opportunities to take a lot of money 
from some enormously wealthy, faceless cor- 
poration. That may be changing, though. Mr. 
kambam says he has investigated several cases 
that he is convinced involved members of polit- 
ical and criminal organizations in the former 
Soviet Union, West Africa and tbe Middle East 
They filed false insurance claims, he says, to 
raise money for their groups. 

Nobody knows for sure foe extent of this 
fraud. But trade association officials say it is 
clearly on foe rise. Larry LaPointe. the chief of 
the fraud division at the New York state De- 
partment of Insurance, said his investigators 
were handling 20 to 30 cases a year, up from 
hardly any just two years ago. In California, the 


MERGER: U.S. Sees Benefits in Boeing’s Buyout of McDonnell Douglas 


Continued from Page 1 

But one commissioner, Mary Azcuenaga, 
challenged that view. In a separate statement, 
she wrote that even with a s mall share of the 
market, Douglas Aircraft has been able to 
exert competitive pressure on the airline mar- 
ket. 

“Douglas may need more customers for its 
products, but having won fewer customers 
than it might want does not mak e Douglas 
unable to compete for future sales,” she 
wrote. 

But tbe commission warned Boeing that 
tbe contracts it recently worked out with 
American, Delta and Continental Airlines, 
under which Boeing would become their 


mercial aviation, the commissioners said. 

The exclusive contracts are a key concern 
of European Union antitrust investigators, 
who continue to review the merger. 

Negotiations between the European reg- 
ulators and Boeing face a Friday deadline for 
a vote by the antitrust advisory panel of the 
European Union in Brussels. 

On Monday, Boeing put forward “con- 
structive proposals” that could pave the way 
for European approval of its merger with 
McDonnell Douglas, Boeing's chief repre- 
sentative in Brussels said Tuesday. 

The representative, James Franck, refused 
to make details public, but be said the group 
had put forward “constructive proposals" 


ploy ees and projected annual revenues of $48 
billion — exceeding foe high for any 
aerospace company worldwide. It would 
have 65 percent of foe world jetliner market, 
almost double foe share of its only rival. 
Europe's Airbus Industrie consortium. 

Executives of both American companies 
say the deal will not eliminate many jobs in 
their major plants. 

After foe most extensive investigation in 
its history, foe five-member commission has 
concluded that foe merger would not result in 
any substantial lessening of competition for 
either military or civilian aircraft 

The decision against trying to block foe 
Boeing merger came down toa determination 
by foe Federal Trade Commission staff that 


. . .. 11131 1 1 * 1 European concerns. According to . — 

exciimve suppliers to 20 years, were po- some sources, foe proposals included elim- McDonnell Douglas had ceased to be a com- 
Pffll 8 ‘ , . mating exclusive contracts with airlines. petitive factor in foe market for civilian jets. 

i Although foe contracts represent oriy about Boeing s purchase of McDonnell Douglas In last year’s booming market, McDonnell 

1 1 percent of foe global maiket, the airlines would create a civilian-and military-aircraft Douglas won only 4 percent of new com- 
uwolved have significant leverage in com- powerhouse with more than 200,000 em- mercial aircraft orders (WP, AFP, AP) 


number of fake death claims has more than 
tripled, to 40 or 50 a year. And no one knows 
how many people are getting away with fraud 
without raising suspicions. 

Compared with fraudulent health care and 
auto claims, which run into the billions of 
dollars, foe cost of fake deaths is relatively 
trivial. Still, said Dennis Jay, executive director 
of foe Coalition Against Insurance Fraud, it 
may run into foe hundreds of millions of dollars 
a year. 

In April, for foe second consecutive year, 
investigators from half a dozen insurance 
companies convened in Florida to share ideas 
on how to counter the phenomenon. One of foe 
speakers was Mr. Ram bam, who spoke of * 1 how 
easy it is to manufacture alternative identities” 
as a first step in defrauding an insurer. 

In such cases, foe con artists take out an 
insurance policy on an imaginary friend or 
relative and name themselves as beneficiaries. 
First, armed with false identity papers, they 
pose as their own creations, undergoing the 
physical examinations required for most large 
insurance policies. Then, using other forged 
documents, they tearfully report foe deaths of 
these fictional loved ones. 

This approach has advantages over faking 
their own deaths: They can retain their true 
identities, and they do not have to share the 
proceeds with anybody. 

Most people still follow foe less complex 
route of taking out insurance on themselves and 
naming a spouse or some other relative as tbe 
beneficiary. The big catch, of course, is that to 
escape detection, they have to assume a fake 
identity for the rest of their lives. Many people 
forget that and are caught. 

Yet. for the most part, filing bogus life in- 
surance claims names little risk. Criminal pros- 
ecution is rare, even when a malefactor is 
caught red-handed. When insurance companies 
bother to go to foe authorities, they often have a 
hard time getting foe attention of prosecutors 
who have foeir bands full with violent crimes. 

In even foe strongest cases, obtaining a con- 
viction is problematic. 

‘ ‘To get a witness to come in from Nigeria or 
Cameroon or Ghana is virtually impossible," 
said Ronald Sallow, who heads Maryland's 
insurance fraud unit. “It's prohibitively ex- 
pensive. And they are extremely reluctant wit- 
nesses because they fear retribution.' * 


France To Charge Algerian 
Jailed in U.S. With Terrorism 

PARIS A French judge has traveled to foe United 
States to file charges of terrorism against a leading 
member of Algeria s banned Islamic Salvation Front, 
judicial sources said Tuesday. 

The judge, Roger Le Loire, left Monday -to indict 
Anwar Haddam, a prominent member of foe From who is 
m jau in Virginia, of “associating with criminals related 
to a terrorist enterprise," they said. 

Mr. Haddam is believed to have ties to aimed Islamic 
SJ2™ 1 * m . Al8ei ?j Thc case a&atost him stems from a 
i yyj french crackdown on Islamic militants. (AFP) 

Saudi Official Arrives in Iran 

■ DU ?AI — An envoy of King Fahd of Saudi Arabia 
° n Tu u Sday on a ^ visit that aims to 
JIJFPX® *** ^tween the two major oil producers, the 

official Iranian press agency ERNA said 

Sa “f minis ? :r of ^ Abdullah ibn Ab- 

outgoing president, Hasherni Rafsanjam. 
of a^thav^t^the^fi Arabia said foe visit was a new sign 

e ‘ (Reuters) 

Archaeologists Found in Mexico 

from a jungle in southern ^,f^ move a Mayan altar 

do.ns J o? e v‘rr °° Frida * Wh “ 

hostage 6 me ° ^ * >£en re P° rte d to have been taken 

lor the Record 

Peru on Tuesday^ repteeb^ M^°'h Sh ' 35 ambassador to 
'n May over securiStaK^rh^ 

bis Lima residence ^ helped peruv,an rebels 

(AP) 


•/n 


* 



M iJr^i 


LbO 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


PAGE 5 


EUROPE 


■$ow 'Stably 

t Glitch Hal u 

{gen Generate P°^ ce / ^ rrest & in Abduction of Prison Official 


•2 ETA Hostages Are Free 


fcM.YOV. Rus,. : , 
st -VH?n Mir. i Lsn : . 

a Jock my <Jlk . 
i" a*. present but »■. . 
ami outside insrv. 
.jVrt * viuJ l.vrc Tl, 

> fjTi uiiiA t*ni\ 

js ut' — ij| . 


r-. 




] The Associated Press 

: MADRID — The police rescued a hostage 
'held by the Basque separatist group ETA for 
'more than 17 months and arrested four alleged 
^kidnappers ^ Tuesday, hours after the group had 
*eed another hostage. 

] The Basque militants kidnapped Jose Ant- 
■onio Ortega Lara, a prison official, on Jan. 17. 
;i996. to press their demand dial ETA pris- 
oners in jails across Spain be transferred to the 


captivity, his muscles had atrophied and he 
was anemic. 

People lined the streets of- the northern 
Spanish city and cheered and clapped as he 
was driven to his house. 

Six hours before be was freed, the ETA 
released Cosme Delclaax, a 34-year-old .law- 
yer and son of a wealthy Basque businessman, 


k 4 .^' IM. ' •ionerstn jails across Spam bet 
^northern Basque region. 

.ry Zatod tcci.,' , : •• v 5 ^ offlcers </** Civi 
Oirsy us ihc * Nnjjitary police swept into a ; 


‘■I. „ 


TCTJ 

vkTirp 

* %t::>cnu 
■au! riu' three men 
tvstar.-r and an An 
KVi'vcnV. fron. 

'II-mA I'.! liif v *^,: ; 
"uiav ' *Thtr> . sri * •. 
.1. <s cteu snore. 
•:rv wepme :v:ii, 
the crew ran m;- . . 
esday. this J:rnt- 
i wrrrji**? 
k Cu. , fcm , .on. 

- I'J "hi.’ l-.S 
yi.'.r.:. nj :.1 Un- 
ix* >hu» :W|| ; l:\-i 
■vesftcatai: Thv r-. 
sly ; iv.lv c. Ik- -Ai 
rjuyf «*»» x>r.r :: *.. 
:fcc dc\ ice. 

crew nwn-X-:- u ; 
id lcri curmitT* 

■ until they car. 
tor 

MWii'fUc? 

— i we burst :n:> • 
r> . i'3U^! nti a *i.m” 
.•Hfriwncim starsul- 
ami cawr 

(Wc .« c.iniiter i- . ;t : 

.si'nO'ftfrrilftj- x 
n stivicuons :'-;r 
ttre 

nuuvr %upp|\ Ir.,.-, 
iijiviuic, • 
'i;rir .-d i-\ :;;l- rnr. 
BLi’.sv ■ 

fch.tr: Fi’.sltr !iv 
■: -V played an 

’ n.itch J51C2 il.s . 

i; i.T u-nif •. 

'ci-.-cr.-K esHc . 

■ 'll.’.* a rc-i ! J U . : . 

■r* ,, <•— i ..••• 

*. *■ <w • 

- — 1 | 


m i a i rml 


III'.." 

:r*N -> .f 

: . : i I: jn.171-.' 

v..:* !i-:: i: ■ 

l \f: : 

MU ! ’ 

oitrrbi- r. - 

* ' ffni mr * " * 

Vl:i;Wt\ r Jj- 

It.'v. . 

* " ’:'*•?£ :■■■ 

!i! • 

>■' ;Vt , 

' 1 * I"'. # 

ravr rr.n::-:: • • 

:c. •-'■■'i* ut‘ 
i r 


Civil Guard’s para- 
Taiiitary police swept into a factory in Mon- 
Idragon, 240 kilometers (150 miles) northeast 
■of Madrid, to free Mr. Onega Lara. They also 
ifotmd 25 million pesetas (5180,000), four 
iguns and explosives. 

r Mr. Ortega Lara was found untied and 
’unguarded in a locked room. The police had 
iarrested the four ETA suspects elsewhere just 
Ibefore the raid. 

: Interior Minister Jaime Mayor Oreja called 
•the ydnfTOpers “beasts" for their "inhuman 
Itreatmeiir of Mr. Ortega Lara, 38. He had 
jbeen held in a 3-meier long by 2. 5-meter- wide 
K 9 -fdot by 7-foot) windowless room, with 
tauely enough space to stand, during his entire 
532 days in captivity. 

Looking gaunt, pale and dazed, Mr. Ortega 
Lara was given a medical checkup and was 
gaby helicopter to his home city of Burgos. 

■ had lost 26 kilograms (57 pounds) in 


I fife fa 


in the* countryside about 12 kilometers from 
Mondragon. Mr. Delclaux, kidnapped on 
Nov. 13. was found drugged and tied to a tree. 
An anonymous caller told a Basque news- 
paper that Mr. Delclaux had been freed and 
where he could be found. 

Spanish media reported that Mr. Delclaux’s 
family paid 1 billion pesetas for his release. 
Doctors said Mr. Delclaux was healthy. 

Mr. Mayor Oreja said the liberation of both 
men within hours was coincidental. An ETA 
member arrested in France last November had 
documents that provided dues leading to Mr. 
Ortega Lara’s rescue, Mr. Mayor Oreja said. 

Mr. Delclaux was apparently freed because 
a ransom was paid, Mr. Mayor Oreja said, 
although he did not specify an amount. 

Mr. Ortega Lara and Mr. Delclaux were 
believed to be the only hostages held by ETA, 
an acronym for Basque Homeland and Liberty. 
The group has waged a 29-year aimed cam- 
paign for the creation of an independent Basque 
homeland It is blamed in the deaths of about 
800 people and in the kidnappings of 70. 



BRIEFLY 


.. • & 

Juan Henen/Thr A—Kiafvl FTC*' 

Jose Antonio Ortega Lara, center, walking with his wife and another family member Tuesday, shortly 
after paramilitary police freed him, ending 532 days in captivity by the Basque separatist group ETA. 




Police in Britain Begin to Collect 
Thousands of Newly Outlawed Guns 

Agence France-Presse 

LONDON — The police in Britain began collecting thousands of handguns 
on Tuesday that were outlawed in the wake of a massacre at a primary school 
in Dunblane, Scotland, last year. 

The crackdown was prompted by the killings of 1 6 small children and their 
teacher in March 1996. 

. .Under new laws that are said to be the world's roughest anti-gun legislation. 
British residents have until the end of September to give up their weapons or 
face the prospect of up to 10 years in prison. 

An estimated 160,000 large-caliber pistols were made illegal as a result of a 
firearms act passed under the previous Conservative administration. A further 
40,000 smaller .22 caliber handguns are set to be banned under a bill putforward 
by the new Labour government char is now going through Parliament: 

Prime Minister Tony Blair said last month that the handgun ban was 
necessary because "we owe a moral responsibility to the victims of Dunblane 
and their" families." 

The laws were bitterly opposed by gun clubs, which claimed they would 
irreparably damage their sport and were an infringement of their civil 
liberties. 

The proposed new ban on .22 caliber weapons is expected to add £30 million 
to the £150 million ($240 million) it will cost to compensate people for giving 
up bigger guns. The government expects to pay out a further £19 millioa for 
ammunition and accessories. Owners can accept a flat rate of £150 for each gun 
they hand in or get an independent valuation of up to £775 for more expensive 


Tribunal Hails Arrest of Croatian Serb 


By Charles Trueheart 

Washington Post Service 


weapor 
The 1 


ins. 

police have 

staff to help organize the st 
wflf eventually be melted down. 


forthis week’s collection by taking on extra 
r and disposal of thousands of guns, which 


PARIS — The arrest of a Croatian 
Serb former mayor who was wanted in 
the killing of 260 civilians in eastern 
Croatia in 1 991 has been called a break- 
through in the frustrated effort by 
United Nations investigators to appre- 
hend war crimes suspects. 

The arrest last week of Slavko Dok- 
manovic, 47, brings to nine the number of 
suspects in the Balkan conflicr who have 
been indicted for war crimes and then 
taken into the custody of the International 
Criminal Tribunal, based in The Hague. 
Sixty-five others remain at large. 

Mr. Dokmaqo vic’s detention by 
tribunal investigators and UN peace- 
keepers in Eastern Slavonia, a region of 
Croatia that is held by Serbs, was the 
first carried out on the territory of a 
former waning state without its know- 
ledge or cooperation. ' 

"It proves that all you need is a 
willing partner for the tribunal — either 
a state authority or, in this case, an 
international one, * * the chief prosecutor, 
Louise Arbour, said in a phone inter- 


view. Tribunal investigators worked 
with the UN Transitional Administra- 
tion for Eastern Slavonia. 

Most arrest warrants and requests for 
evidence have been ignored by Serbs 
and other signatories to the 1995 Dayton 
truce accords, which require state co- 
operation with the four-year-old 
tribunal's investigations. 

Ms. Arbour said that the secret op- 
eration against Mr. Dokmanovic, whose 
15-month-old indictment by the tribunal 
was not previously publicized, "obvi- 
ously reveals the existence of nonpublic 
indictments’ ’ for the first time. 

The public nature of the 74 known 
indictments. Ms. Arbour said, has 
hampered the tribunal's ability to hunt 
down suspects. From now on, she said, 
investigators will not announce targets. 

Mr. Dokmanovic was a former mayor 
of Vukovar, in eastern Croatia, in 
November 1991, when Yugoslav Army 
and Serb paramilitary forces stormed the 
city 's hospital and removed 2 60 civilian 
men, mostly Croats, who bad taken shel- 
ter there from a Serb artillery barrage. 

They were taken to a nearby town, 
Ovcara, where they were beaten and 


shot to death — with Mr. Dokmanovic's 
active participation, according to the 
indictment, when it was uncovered by 
tribunal forensic experts last fall, the 
mass grave of 200 of the Vukovar vic- 
tims s lined widespread disgust and, in 
Croatia, special bitterness. 

■ Warning by U.S. Envoy 

The top U.S envoy to Bosnia 
threatened Tuesday to cut off all Amer- 
ican aid to Croats in Mostar imme- 
diately unless they stop stonewalling on 
creating a joint police force with 
Muslims in the divided city. The As- 
sociated Press reported from Sarajevo. 

The U.S. special envoy, Robert Gel- 
bard, also criticized the "stupidity" of 
police in the Serb sub-state making up 
half of Bosnia. He was referring to a 
recent incident in which U.S. soldiers 
with the Bosnian peace force dis- 
mantled an illegal Serb checkpoint and 
disarmed the policemen manning it. 

"We are astonished with the stu- 
pidity of some police officers in Re- 

C * lika Srpska who are seeking con- 
ration’* with the NATO-led peace 
force, Mr. Gelbard said. 


Fabius Seeks to Fix 
French - German Ties 

PARIS — The speaker of 
France’s National Assembly, 
Laurent Fabius, urged the heads of 
the German and French govern- 
ments Tuesday to address each oth- 
er's parliaments to revive a friend- 
ship soured by differences over the 
single European currency. 

Mr. Fabius, a former Socialist 
prime minister, said at a seminar on 
French-German relations that 
Chancellor Helmut Kohl should 
address the National Assembly and 
Prime Minister Lionel Jospin the 
Bundestag. {Reuters) 

Terrorism Suspect 
Returns to Italy 

ROME — After 14 years in 
France, an Italian who was accused 
of having been a leader of the Red 
Brigades terrorist group renirned 
Tuesday to Italy to serve a nearly 
five-year prison term. 

Toni Negri. 64, was convicted in 
absentia in 1984 for his role in 
organizing a 1974 robbery near Bo- 
logna in which a paramilitary of- 
ficer was killed. (APi 

A POW Mystery 

MOSCOW — A U.S. delegation 
has pored over thousands of doc- 
uments and interviewed hundreds 
of Russians, but still cannot confirm 
its suspicion that American pris- 
oners of war were brought to Mos- 
cow for questioning during the 
Korean War, fi U.S. official said 
Tuesday. 

The head of the U.S. team said 
that the five-year search should 
continue and that he believed the 
Soviet Union did handle American 
POWs during the 1950-53 war. 

"But, we can’t find anything in 
the archives," said Malcolm Toon, 
a former U.S. ambassador ro Mos- 
cow. {AP) 

Britain in Unesco 

PARIS — Britain officially re- 
joined Unesco on Tuesday, hoist- 
ing its flag outside the organiza- 
tion’s headquarters in Paris. 

The new Labour government 
said in May that it was rejoining the 
United Nations Educational. Sci- 
entific and Cultural Organization a 
dozen years after Britain left to 
protest alleged poor management 
and anti-Western bias. ( Reuters ) 










ge Algerian 
Pith Terrori'ffl 


u 




|:SS; 

tui ; — e> *« ■ •" 


trrivvs in lr (in 


R!r t ' 

fctXA 

rf v’rfc, A*'- 
‘LkT|»V-'- 
UL ibc A.f* '* 

•* -*-■ ’ 


Found in ■»/'*"* 

v .jr-etta:’-'.-* 

l ^ ■ - ■ 

u: JSTK-*' ' - 
tfwtn 


Hungary is the 
richest country in the 
world. .. 

...at least in healing spas. 
Whether tee make use of the . 
curative effects of spring water 
by 1 drinking it or take thermal 
waters like the ancient 
Romans or the Pashas of the 
Ottoman Empire or royals of 
Europe, our health can only 
benefit from it. 

Nowadays, hundreds of 
thermal springs and baths 
a elcome the neu ■ pilgrims 
in Budapest and across 
Hungary. Spas cure the 
ailing and rejuvenate the 
healthy. If you only wish to 
get away from it all', come 
and enjoy floating in those 
'miraculous waters. 

Hungary * awai ts you with a 
thousand-year-old hospitality. 



Advertising?. 


The diff 


1 


i-- 

iter hrJitfd f- 


TQCRIXFORM: H-lOj2 Budapest. Stil6 u. JL 

Tel: (36-1) 117-9600, Fax: (36-1) 117-9578 

E-mail address: tourmformQniaiLbvtigaryloiirisni. iru 

bQmepagedJttpv, ineu\biaigarylourisnt.&u 



between a quartet 


d 


ana an 


orchestra. 



Presenting a great orchestral work without the contribution of sponsors would drive ticket 
prices beyond the reach of most music lavas. Gate simply, without the support of the 
ma/kofrig companies who tre proud to be associated with great performances, anything 
mare than a string quarter would be out of the question. 

For further Information cal/fax the IAA UK Chapter. Telephone 0171 431 7701 Fax 0171 431 7098, 




international 

ADVERTISING 

ASSOCATION 


me global partnership of advertisers, agencies and meefla 


ADVERT 


N G. 


YOUR 


G H T 


T O 


CHOOSE. 


1 




PAGE 6 


INTERNATIOIVAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


ASIA/PACIFIC 


ASEAN Offers to Help 
Cambodia Make the Cut 


Agaice Fraaee-Presse 

HONG KONG — The Association of 
South East Asian Nations offered Tues- 
day to help Cambodia ran its general 
elections next year to keep it from slid- 
ing back into civil war. 

At an informal meeting here to ad- 
dress the organization's .growth pains, 
ASEAN foreign ministers also ad- 
dressed matters related to the other two 
candidates to join the alliance — Banna 
and Laos. 

The organization sent Foreign Min- 
ister Abdullah Ahmad Badawi of 
Malaysia on a fact-finding mission to 
the three nations last month, and oo 
Tuesday the members of ASEAN — 
Brunei, Indonesia, Malaysia, the Phil- 
ippines, Singapore, Thailand and Vi- 
etnam — voiced apprehension over de- 
velopments in Cambodia. 

Foreign Secretary Domingo Siazon 
of the Philippines said: “We discussed 
his report extensively, including pos- 
sible types of assistance that Cambodia 
might need to help than in their present 
difficulties.’’ 

Mr. Abdullah recalled ASEAN’s role 
in the 1991 accord brokered by the 
United Nations that ended the civil war 


The foreign ministers also discussed 
mte m&ri<Mfttcnnoems about the human 
rights record of Burma’s military gov- 
ernment and problems that wonid be 
faced by Laos, the officials said. 

ASEAN is committed to creating a 
free trade region by 2003, but the three 
reqrtirfare members have been given un- 
til fte end of 2007 to cany out cor- 
responding cuts in their import tariffs. 

Mr. Abdullah said he had conveyed to 
the junta in Rangoon “some of our 
concerns about what's happening 
there.” 

Western nations have criticized 
ASEAN's decision to admit Burma, 

, it would only embolden a mil- 



Rangoon into dialogue would persuade 
it to change its ways. 

Meanwhile, Mr. Siazon, the Philip- 
pines' foreign minister, said that Laos 
would "have problems” after joining 
the organization. ‘‘Economically, it's 
probably the least prepared, together 
with Cambodia,” to conform to 
ASEAN’s free trade plans, he said. 



TaoOMni YdyAgou: Fniwe-Pnsw 


SPIRITED PROTEST — A Taiwanese activist throwing a bottle of wbat was described as sparkling wine 
at a Japanese patrol boat as it prevented a landing Tuesday on a disputed island in the East China Sea. 


in Cambodia, “so naturally we are con- 
cerned and have rold them so.” 

But he also said that Cambodia’s in- 
ternal situation did not jeopardize its 
ASEAN membership. 

The two prime ministers of Cam- 
bodia, Prince Norodom Ranariddh and 
Hun Sen, have been at each other's 
throats for years. Last month their forces 
fought a battle in the streets of the 
capital that left two people dead. 

And on March 30, ‘a grenade blast at 
an and -government rally in Phnom 
Penh killed 20 people and wounded 1 SO 
others. 

Prince Ranariddh has said elections 
would be held in May 1998, and Mr. 
Abdullah of Malaysia offered an ex- 
planation for the violence. The rival 
parties in Cambodia, be said, are doing 
whatever they can to enhance the 
chances of their respective leaders in the 
approaching elections. 

“We in ASEAN have enough ex- 
perience” in elections, Mr. Abdullah 
said. “If we can help by offering them 
some training, then that would be pos- 
sible." 


North Agrees to Attend 4-Party Korean Peace Talks 


By Steven Lee Myers 

New York Tutus Service 


NEW YORK — Forty-four years 
after the Korean War ended with a bit- 
ter, tenuous cease-fire, North Korea has 
agreed to hold talks with South Korea, 
the United States and China in an effort 
to negotiate a lasting peace. 

The two Koreas remain profoundly 
divided, and intractable issues must still 
be resolved, but the agreement repre- 
sents a breakthrough in efforts to forge 
peace on the Korean Peninsula, which 
remains one of the world’s most trouble- 
some, potentially explosive regions. 

North Korea’s agreement cleared the 
way for ‘ ‘preparatory talks”- to begin in 
New York on Aug. 5 among delegations 
from the two Koreas and their principal 
allies during the war. China and the 
United States. 

The agreement was announced Mon- 


day after a final day of wrangling over 
details between senior delegations from 
North Korea, South Korea and the 
United Stales in New York. The meet- 
ing was the third in four months; die 
previous meetings ended in frustration. 

Kim Gye Gwan, the brad of North 
Korea's delegation and a deputy min- 
ister of foreign affairs, said his country 
would enter the four-party talks, calling 
them “very conducive to the peace and 
security of the Korean Peninsula.” 

While senior officials of the two 
Koreas have met before, the talks would 
be the first between the North and South 
to address directly some framework for 
peace, including mutual recognition, a 
normalization of relations and, many 
officials believe, an eventual reunifi- 
cation. 

President Bill Clinton and President 
Kim Young Sam of South Korea pro- 
posed the four-party talks last April as a 


way of overcoming North Korea’s un- 
willingness to negotiate directly with its 
enemy. The North hod long sought talks 
only with die United Stares, hoping to 
isolate the South. 

While an armistice ended the fighting 
in July 19S3, the two Koreas technically 
remain in a state of war, with the border 
between them among the most heavily 
armed in the world. 

In the previous meetings in New 
York, Mr. Kim of North Korea signaled 
a willingness to hold peace talks , but 
continued to ruse objections, insisting 
that any agreement had to include sub- 
stantial donations of food aid to cope 
with growing shortages in the North. 

The United States and Sooth Korea, 
while responding to international ap- 
peals for emergency aid with donations, 
refused to link the aid to North Korea's 
participation in talks. 

By Monday, North Korea had 


GAMBLE: Clinton Bets the Farm on China 


Continued from Page 1 


China's behavior here. Sbe reproved 
for disbanding Hong Kong’s 


Beijing tor disbanding Hong Kong's 
elected legislature and for its dispatch of 
4,000 troops over the border right away, 


which she described as “perhaps not the 
best way to get started" in reassuring 
the people of Hong Kong about their 
future. 

But she also restated the adminis- 
tration’s position that no single issue 
can control the “multifaceted relation- 


ship" the administration has developed 

f ith ------- 


with Beijing. She left unclear what the 
administration might do should C hina 
violate its promises and crush freedom 
here, just as the administration never 
made clear what it would have done had 
Mr. Yeltsin been defeated or forced to 
retire because of illness, or if the war in 
Chechnya had continued. 

Relations between Washington and 
Beijing are already considerably better 
than they were during Mr, Clinton's first 
term, when disputes over Taiwan 
soured the atmosphere. 

As was reflected in the recent House 
debate over the renewal of China’s trad- 
ing relations with the United States, 
many conservative analysts and some 
members of Congress are unhappy with 
the administration's determination to 
pursue further engagement with China. 
The critics argued that China is an op- 
pressive and aggressive power bent on 
using its increasing military might and 
its newfound Hong Kong wealth to seek 
regional domination. 

Mrs. Albright, however, said it would 
make no sense to turn away from C hina, 
because it is too big and too powerful to 
push around. 

* ‘Regardless of the policy choices we 
make,” she said in a speech in San 


Francisco on her way here, ‘ “China will 
be a rising force in Asian and world 
affairs. The history of this century 
teaches us the wisdom of trying to bring 
such a power into the fold as a re- 
sponsible participant in the internation- 
al system, rather than driving it out into 
the wilderness of isolation." 

Can a Communist nation that has 
nuclear weapons and a fast-growing 
economy but no history of democratic 
governance be brought along as Mrs^ 
Albright described? The administra- 
tion's bet is yes, according to the White 
House national security adviser, Samuel 
Berger. 

“Can China successfully make the 
next great leap toward a modern econ- 
omy in the information age without pro- 
ducing the result of empowering its 
people, further decentralizing decision 


making and giving its citizens more 

irlivRs*” 


choice in their lives?” Mr. Berger asked 
in a speech last month to the Council on 
Foreign Relations. “Possible, but I 
doubt it." 

Mr. Berger said that “China, of 
course, will define its own destiny." 

“But the decisions we make will in- 
fluence China's evolution," he said. 
“To wield our influence effectively re- 
quires sustained domestic support for a 
revitalized relationship with China and 
a clear-eyed approach based on our na- 
tional interests. ’ 

Noting the ‘ ‘genuine improvements" 
in the lives of Chinese citizens over the 
last 20 years as the government 
loosened economic and social controls, 
Mr. Berger said those reforms "were 
not made because of U.S. policy, but 
they would not have been made without 
the right U.S. policy, without the United 
States making clear to China that its 
participation in regional global affairs 


Tung Participates 
In Buddhist Event 


Reuters 

HONG KONG — Hong Kong’s 
new leader, Tung Chee-hwa, took 
time off from* busy schedule Tues- 
day to join tens of thousands of 
Buddhists in praying for the future 
of the territory under Chinese rale. 

The prayer session, on Hong 
Kong’s main soccer field Tuesday, 
followed the handover at midnight 
Monday of the territory to China 
after 156 years of British colonial 
rule. 

Together with more than 40,000 
Buddhists, Mr. Tung clasped his 
hands together and bowed deeply 
as more than 100 abbots in yellow 
and red robes sang and chanted 
prayers in front of a huge portrait of 
the Buddha. 

“With the Buddha's blessings, 
may the nation enjoy prosperity and 
the people live in peace and hap- 
piness," Mr. Tung said in a 
speech. 


Continued from Page I 


fessed to luring II -year-old Jun Hase 
into playing with him on the afternoon 
of May 24 and leading him up a wooded 
hill where he strangled him. Later, the 
suspect allegedly sawed off Jun’s head 
and brought it home in a plastic bag, 
where he washed it in a purification 
ceremony and kept it overnight The 
next day, he reportedly left it at the front 
gate of a school. 

What disturbs many Japanese is that 
while the youth was clearly tormented, 
the parents of the yoong suspect were 
highly educated and relatively prosper- 
ous, with the father working ai a pres- 


been afraid that we don't know when 
our children could be victimized," said 
Miss Shiraishi. a 32-year-old mother. 
“Now we have to also shoulder the 
terror that we don T know if our children 
will become the attackers." 

Japanese elementary school systems 


are praised around the world but junior 
high school 


tigious Japanese company. 

"They focused their attention on 


was necessary, that it is not our enemy 
and that its growth and development 
were welcome.” 

Mrs. Albright told several Hong 
Kong audiences that China's perfor- 
mance in carrying out its promise to 
maintain Hong Kong’s way of life 
would be a major factor in the admin- 
istration's evaluation of its policy. 

But on no occasion did she suggest 
what the administration might do — or 
even that it would do anything — if 
China were not to honor its commitment 
to preserve Hong Kong's economic and 
political freedoms under the “one coun- 
try, two systems" formula. 


their kids' education and poured big 
money into it,’ ' said a neighboring Kobe 
resident interviewed by phone. 

In the days just after the murder, 
parents feared their children could be- 
come victims anywhere in Japan. Now 
that sentiment is beginning to transform 
into an eerie fear that their child could 
actually become the perpetrator. 

“Everybody seems to be worried that 
their own kids could do the same thing 
as him or could be in the same psy- 
chological condition as him, and they 
don't know what to do,” said Shinobu 
Yoshioka, an author who often writes on 
education issues. “Schools look like 
factories, very efficient, functional, 
clean and rational. Looks to me like the 
education given to kids in schools these 
day is just like quality controlled pro- 
duction." 

“How do these kids learn the im- 
portance of life?” be added. 

In a letter to the Asahi Shimbun Tues- 


day, Michiko Shiraishi lamented: 




ince the recent incidents, we have 


schools are all work and no play. 
And the pressure to get into a good high 
school means dial children spend hours 
studying at cram schools to pass tests 
with high scores. Dropouts or failures 
may be ostracized and isolated. 

The young suspect, whose name has 
been withheld because he is a minor, is a 
quiet, small-framed boy with a good 
memory and a desire for recognition. He 
apparently was not doing very well in 
school and began to pour himself into 
foreign horror movies, violent Japanese 
comic books, and TV video games, ac- 
cording to news accounts. 

Friends who visited his home said 
that he had a set of little figurines, some 
of them with their beads cut- off, ac- 
counts say. 

In a letter that the youth stuffed into 
the mouth of the beheaded Jun and in a 
letter he has admitted sending to a daily 
newspaper, many of the phrases seemed 
to come straight out of movie dialogues. 
“Now the game begins, try and stop 
me,” he wrote. He added that he was 
taking revenge against the ‘ ‘compulsory 
education system.” 

As a result, sociologists and edu- 
cation scholars are concerned about the 
potential effects that the blossoming 
possibilities of virtual reality can have 
on the nation’s children. 

“In 1983 when this boy was bom. the 
Nintendo TV game was also launched, 
so he belongs to the generation that 
grew up together with TV games." said 


briefly 





dropped its insistence on food aid, al- 

S American and South Korea of- 
said that Mr. Kim’s delegation 
raised the issue again. 

“They again repeated that they have 
an urgent and substantial need for ad- 
ditional food aid," a senior Clinton ad- 
ministration official said, speaking on 
condition of anonymity. 

A South Korean official said the short- 
ages in the North, which have become 
dire according to many reports, were 
“something structural and elemental" 
and would be part of peace talks. 

In a statement, the three delegations 
said that the preparatory talks in August 
would resolve "procedural matters " for 
the future talks, including “die earliest 
agreeable date, venue ana agenda.” 
Despite North Korea’s agreement to 
attend the talks, officials cautioned that 
much remained to be resolved before a 
peace treaty could be readied. 


MURDER: Is Japanese Society to Blame? 


India to Overhaul 
Judicial System 




NEW DELHI — . India an- 
nounced sweeping measure Tues- 
day to overhaul its judicial system, 
which is wrestling with a backlog 
of about 30 million cases. 

The steps include permitting 
lea bargaining, setting time limits 
jor court proc ee din gs , promoting 
alternate methods for settling dis- 
putes and setting up indepoident 
prosecution agencies. Law Minis- 
ter Ram:i lean t Khalap said, 

Mr. Khalap said the government 
would introduce a system of plea 
bargaining, similar to that in the 
United States, where the accused 
could receive more lenient treat- 
ment from die court in exchange for 
a guilty plea. (Reuters) 




Rebel Bomb Kills 4 


Near Hyderabad 


HYDERABAD, India — Four 
political activists were killed and 
five others wounded Tuesday when 
leftist militants set off a land mine 
in the Indian state of Andhra Pra- 
desh, the police said. 

They said guerrillas from the 
Peoples War Group, a militant or- 
ganization. attacked the last vehicle 
in a convoy carrying Congress (T) 
Party workers in a village called 
Machareddy, about 100 kilometers 
(60 miles) north of the state capital, 
Hyderabad. The workers were 
heading to a party convention in a 
nearby village. 

The People's War Group is part 
of the Naxalite movement, started 
in India in the 1960s by groups that 
split from the main Communist 
Party. The group is considered the 
most violent of die Naxalite outfits, 
and controls large wooded tracts 
straddling the states of Andhra Pra- 
desh, Maharashtra, Madhya Pra- 
desh and Orissa. ( Reuters ) 


Sentences Upheld 
By Vietnam Court 


HANOI — A Vietnamese court 
on Tuesday rejected aoueals for le- 


niency by eight people who were 
death for their part in a 


sentenced to deat 
massive heroin-trafficking racket. 

~ A Supreme Appeals Court of- 
ficial said life- imprisonment sen- 
tences far six other key members of 
the nag and various jail terms for 
five others had also been upheld. 

The exposure of the syndicate 
and the sensational trial of its key 
figures had embarrassed the coun- 


try’s powerful security establish- 
becac 


meat because half of the defendants 
were former police officers or bor- 
der guards. (Reuters) 


Burma Lashes Out 
At U.S. ‘ Bullying ’ 


RANGOON — Burma’s state- 
run media on Tuesday lashed out at 
the United States, saying America 
bullied weak countries and ex- 
ploited die democracy activist Daw 




.,av. 


T 

L 


H 


— ■=: T 


stiff 

trod 

cok 

whi 

Aik 


was 

* 


k 


Aung San Sun Kyi, who it said had 
no chance of ever becoming leader 


of Burma. 


(Reuters) 


I 


Fea 
. brol 
lot* 
; Mo 
. ] ctn 
\l coo 

hV see 
the 
nut 
her 
of! 


Masashi Fukaya, a professor of edu- 
cational sociology at Shobi Gakuen Ju- 
nior College. “For kids raised in the age 
of electronic media, they have been 
growing up in a sort of virtual reality. 
They have not been growing up with 
real feelings, with real living friends, or 
with real nature.” 

Friends of the suspect say that he 
became increasingly violent and began 
torturing pigeons and cats, and showing 
mutilated parts of cats to bis friends, 
according to Japanese news accounts] 
After a classmate reported him. he 
threatened the classmate with a metal 
pipe, and the teacher reportedly told him 
in mid-May not to return to school. 

The school, however, has issued no 
statement on this, and the police have 
not publicly commented since the arrest 
on Saturday. 


-mu 

the 

fun 

of 

‘ bol 
bei 


* \ 


cal 

the 

;hc 
. fer 


mt 


I 

P 


de 



How Breitling reaches 


people who count 
time after time 


“As one of the World's leading creators of technologically advanced time pieces , we at Breitling have a natural affinitv 
with Scientific American, the World's leading science and technology JJ im *y 

journal Our market mirrors their discerning readership who recognise 
achievement and excellence across the globe 99 . 

Breitling S -A, 


For more information on Breitling’s range of distinctive time pieces 
write to: Breitling S.A., P.O. Box 1132, 2540 Grenchen, Switzerland. 



I 


-Cc 
7to 
. Tc 
: tin 

i N; 

; e» 


‘ ck 
! wt 

■ fu 


in 


su 


K< 


’i!a 


T1 


; sn 
: B< 


For more information on how Scientific American can add to 
your marketing time after time, contact: 

Roy Edwards, Scientific American, 

1st Floor; Thavies Inn House, 

3/4 Holbora Circus, London EC IN 2HB. 

Tel +44 171 842 4343, 

e-mail: 101650364@Compuserve.com 

World Wide Web: http://ww.sriam.com. 


i 





































PAGE 7 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


dia to Ocerh„ u i 
diciat Syste,,, 

EW DF.LHI — 

need arUccpuis: n:v:j *■ 

tonvahjul its judio^': 

k'h »s »TC*,Uins? vmiI: '-'v 

tort 30 m.*;hiTn ' ' ■ r j* 

ht >lcr> tncJudv \,... 
fcttsatnmg. sen,:,., 
iisan procMdi;;-^ :, V. 

" ' n? 

*■ and ■wrung up ; T V 

vitaluiR jeenL-ic'. L V, 

knuiLmt Klnbp ,,V ,,!, a- ( 

Tr. Kh.d.ip said ;f;j L ,, . 
k? introduce a sv 1 0t v. 
aiiiir.;j. wrmi.tr r . " !r = 

■Cll Stl! fS. Where <*.'• " S 'V 
d receive nioiv I. :! . 

* fruttl :hi! Co;:r' :« c , , .' . ' : i‘- 

ift> pica ;! (, r 

’hel Bomb Kill, f 
ar Hyderabatl 

YDERABAl). I:.-... 

.. t r » 

mher** uiiundji! ; ' "■ 

- >c: *•:/.’ . 

* InJu.i -4S.1T- . *. . 

, the police ->2:.: ■ 

tcj said t*ycr.-::..s. ■ 

Jcs Wi.’ CirOilp ■ ■ i .'. '* * 
tfiton. aitjckcii ::.tr .. ' 1* ' * 

cor.vvw can*. ::jp f. .. 

* worker*. :r. j 

ha: eddy. about !■':• ■•. ■ . 

::.inh r»: i*- v • n ’ 

rrab.id. The wit;..: 
to a juih c.rr. . •. 

iC People's War , 

z Saxafrre mo*. L* 
d'.j :r. the 1‘toOs r- . . 
ffW" Slli? fi'.I.I: * • - 

. Ibv Cfuiip is v.*:. 

Vroleri *.i* “it N j ..... 

larje %. * 

J/jii' 1 rhe * *' t, 

, V.. u* 

4P.il - . ' v 

ntences L fihdtl 
l ietnani ( <*uri 

AV.»! - \ V.c:. , 

rt'WT”! 

,fc -.Tr 

:i. “ • 

,-r: 

>i. c *rc sis: Arp-.! - * 
b — .it.- inipr: » ;,*. ( 

-V .n.J M 

i:* *: • I’.a.! 4 -m. r-rtf: 

: TTix-su.-e <>: -i:.- ,.j : 

he 3 i! J.'i.i. ' • 

u*..: cit b irra.' cd • j-'- ; 

i -»r«: • . -v • 

■■' .’ iiiv; o' I.* . ■ .j!. 

r--.*;,'.T . :r: : 


miii Lash( > (k 

I S. 'Bullying 

xsax:\ - ;• 

rUv-.-.-'-i .. 

Slates. •-• 

-i iVvitk - • 

'.i f i.' CvC.-X: -i. • 

'‘r.Yjsv-..' 

. •! ;-.c. — 


g&MaOVER IN HONG KONG / For Many, the First Day Was a Day like Any Other 

Id Small Noodle Shop, 

New Topics of Concern 

Anxiety Lurks Below a Placid Surface 



^ y>T. 
* * 


■ •' By Serb Faison fi a ^ s W » a 

N^y^rwrriSrrvicr Maybe < she ll lose Tier job. Eva- think 

. — — about that ? 

HONG KONG — At the Lun Fat Ms. Lam retorted: “You think about 
Noodle Shop on Wanchai Road, Hong politics too much. Who knows what will 
! Kong’.s first day as a part of China was, happen ? It’s all in die future.” 

L essentially, like any ewer. Perhaps one of the effects of China’s 

' A smell of duck grease hong heavily takeover of Hong Kong is that it will 
| in the air, despite the feeble efforts of a inevitably lead to more discussion of 
' rattling old fan in the comer. political issues, as the refugee mentality 

' - A stack of clear plastic cups waited once so prevalent here gradually 
i beside a pitcher of lukewarm tea on each erodes. 

i table, but the small restaurant was nearly If the elections promised for next 

spring are genuinely democratic, ordin- 
elderly customer sat near the arv people grapple with even more polit- 
tnping from a bowl of noodles, ical issues. 

a holiday, so business should Yet the kind of change that gives Mr. 
today,” said Cheung Kee-hwa, a Cheung anxiety, like restricting an or- 
[ proprietor with thick hair and dinary person’s freedom, still re main in 
i!l “But it's about the same so the unknowable future. 

“I've had this shop 20 years, and 



bade, slurping from a bowl of noodles. 

‘It’s a holiday, so business should 
pick up today,” said Cheung Kee-hwa, a 
cheerftil proprietor with thick hair and 
few teeth. “But it*s about the same so 
far.” 


Hong Kong's new status as pan of anyone can see I’m not getting rich,” 


China, which people woke up to Tues- 
day, changed little on the surface of this 
bustling city. 

But it registered, with bits of uncer- 



* v* * t * 

■ : * 


■ 


•< 

- • ; 

X rnr- • ■’ Ukv: 

' * . * H -'' / • - 
Or-.-stSitt. ;«•/. * . * .* • • 

^ .- # ^ -A 

1. tr*. •• mV* . .^-4- yW' { «a 

-■ . i ^ 

,v> C." '.r ; ' ■’ ' W ^ 

. <+* 
t 







Tues- said Mr. Cheung, pointing at the red 
of this plastic menu on the wall, where dishes 
range in price from $2.50 to $3.50. 
uncer- “It is a stable business, and 1 hope it 


1 tainty and anxiety, in the minds of many remains the same.” 

; oarfinary people like Mr. Cheung. Three customers laden with shopping 

i “My father always said the Com-, bags, two men and a woman, walked in 
‘ nronists were bad, so I never went into and took a seat at a table. 


Sml MallMia/Kftrim 

TIBETANS PROTEST — Indian police corralling dozens of exiles from Tibet who demonstrated Tuesday 
outside China’s Embassy in New Delhi to show support for democracy and an independent homeland. 


. ijje mainland.” he said. “Now they say 
; they’ll leave Hong Kong alone. 1 would 
; bet on the lottery before I bet on that.” 

, A partly waitress, Lam Sun, who was 
listening quietly until this moment, sud- 
1 dimly piped up. 

) "It won’t make any difference,” she 
< said, referring to Hong Kong’s new 
J status as a special admins trative region 
i within China. “My daughter was my 
; biggest worry before, and she’s still my 
! biggest wony.” 

Mr. Cheung shook his bead. 

! “Too simple.” he said, dis- 
‘ missivefy. . 

! ” What if your daughter wants to work 


In Beijing, Police Keep a Lid on Exuberance Over Hong Kong 

the mainland or new arrivals since the 

turnover. New York Times Service electronic clock here, Beijing was not a leaders sealed off the square with n 

“What do you have, old man ?” one BEIJING — A select crowd of about city of spontaneous celebration. since October . 1994. when they 

of the new customers inquired 70,000 Chinese workers, students, po- Rather, the center of the capital re- brated the 45th anniversary of the fc 
brusquely. lice families and Communist Party sembled an armed camp. Within the ing of the People's Republic. 

Mr. Cheung pointed at the menu and members was bused to Tiananmen cordons was a controlled nationalistic Missing was the tolerance of tin 


Mr. Cheung pointed at the menu and 
the wall, but did not say anything. 

“They can be so arrogant,” he said 
later, when the three customers had left. 
“I don’t tike Beijing people. They think 


Square fqr the countdown to the return of display that was broadcast on state-run 
Hong Kong to Chinese rule, which was television. 


they know everything, but acutally they anza. 


marked by elaborate fireworks displays 
and a scripted entertainment extravag- 


don't know anything.” 

He paused. Then he added: “It looks 
like we'U have to get used to them.” 


sctronic clock here, Beijing was not a leaders sealed off the square with troops 
y of spontaneous celebration. since October. 1994. when they cele- 

Rather, the center of the capital re- brated the 45th anniversary of the found- 
mbled an armed camp. Within the ing of the People's Republic, 
ndoos was a controlled nationalistic Missing was the tolerance of the last 
play that was broadcast on state-run few days, when hundreds of thousands 
eVision. of Chinese citizens flooded onto the 

Ordinary Beijing residents were Avenue of Eternal Peace and into the 
blocked from altering the 99-acre (40- square to gawk at the festival of lights 
hectare) square. Thousands pressed bar- and lanterns that ringed the monument to 
its set up blocks away by a huge con- China's war dead and festooned the 
gem of policemen in riot gear. This colonnaded facades of the square's great 
is die first time that Communist Party halls. 


The Setting Sun of Empire 
Looks Golden to Bermuda 

Here Come the Companies and the Funds’ 


When the moment marking the end of, riers set up blocks away by a huge con- 
China’s colonial humiliation by Britain tingem of policemen in riot gear. This 
came at midnight Monday on the huge was the first time that Communist Party 


Leftovers of Empire 


Britain at one time or another ruled vast swaths of die Earth. Its remaining territories are labeled. 


si 


HilBKii 


Rv I nr™ Pnhfm- executives here were even sponsoring a 

reception to mark the handover Monday 

: ! — evening, which some thought a bit un- 

HAMELTON, Bermuda — Britannia seemly, given the circumstances, 
still rules the waves, at least here in the “I mean, if they were' all thai con- 
middle of the Atlantic Ocean, in the fident abour Hong Kong’s future, they 
colony that now becomes the largest in wouldn’t have cut and run, would they 
what little is left of the British Empire, now?” asked Brian Seymour, an ac- 
And here, they intend io keep it that countant who was dressed in dark, calf- 
way. length socks and the shorts that this 

At downtown pubs like The Cock and colony made famous. 

Feather and Flanagan’s , young insurance Still, nearly half of all the other 

brokers and diipping agents eating their companies listed on the Hong Kong 
lunches could barely contain their glee Stock Exchange, from shipowners to 
Monday as .they watched the televised real estate dealers, also have established 
ceremonies in l^frrch Britain handed over some sort of legal presence here, barik- 





Turks & 
Caicos Is. 
13.941 


pjjjflSr" 

. i 


. ; '.Hi. iyj .i : • 

’ sift ft: c vir • 


ti- 
ll fttfciT 

df •:? r .tv. 


Vr . 

Or :• 

U:£x. 


jhes 

nuif 

lnu‘* 


to* rf 


. control of Hong Kong to China. ing and government officials said, as 

And they weren’t the only ones who have some of the Chinese government’s 
s see the end of British administration own bolding companies, 
there as a wonderful business oppor- All are looking for something Hong 
, tvmity for the 60,000 people who live Kong no longer can assure them: the 
■ here— about 1 percent of the population impartiality and absence of political in- 
of Hong Kong. terference offered by British law. 

“All we can say is rfrarik you very "Nobody wants to find that the rules 
- much Hong Kong, because here come of the game have changed and the goal 
tbeinsmaix^coiiipaniesand theperision posts have moved,” said Sir David Gib- 
funds,” said Conway Bennett, a native bons, chairman of The Bank of N.T. 
b of Wales who is a waiter at Flanagan’s. Bnoejfield & Son, a leading local com- 
“You iustknow the Chinese are some to panv. “If there is a dispute, they want the 


Cayman Is. 
•33,192 


Pitcaim L 
73 I 


Falkland Is. 

2,317 

South Orkney Is. 0 - 
South Shetland Is. 0 


BRITAIN 


j- 61.629 

*/ British Virgin Is. 

/ 13 ’ 027 ' 4 

y Anguilla 1 

/; 7.099 f 



St Mena 

South Georgia Is. O 
- South Sandwich Is. 0 


m 


*No permanent civilian population, 
but about 2,900 military personnel 
Source: World Almanac 


of the game have changed and the goal than Britain’s, and so Bermuda 
posts have moved, "said Sir David Gib- little anxiety about its own future. 


land nearly 7 00 miles east of North Anguilla, the British Virgin Islands, 
Carolina, have an average income higher Cayman Islands, Montserrat, and Turks 


of Wales who is a waiter at Flanagan’s. Bnoejfield & Son, a leadii 
“You-just know the Chinese are going to pany. “ff there is adispute, 


“Symbolically, for chose of us who 
were brought up in the days of empire, 
there is a certain nostalgia,” said John 
Butters, a British naval officer who 
served in Hong Kong before retiring 


"botch it and that Bermuda is going to certainty that the case can be appealed all 
.benefit.” '. the way to the Privy Council. ’ 

Indeed, Jardine Matheson, the tner- Offered a chance at independence in a 


"can tile house whose opium trade led to referendum two years ago, Bermuda 
the war that allowed Britain to seize voters chose to retain die status quo by a 


"Hong Kong in the 19th century, trans- 
. fared its corporate registration to Ber- 


Carolina, have an average income higher Cayman Islands, Montserrat, and Turks were brought up in the days of empire, 
than Britain’s, and so Bermuda reels and Caicos Islands remain "dependent there is a certain nostalgia,” said John 
little anxiety about its own future. territories," as London prefers to call its Butters, a British naval officer who 

"We have the best of both worlds, colonies these days. served in Hong Kong before retiring 

really," said Cisco Smith, a 25-year-old Elsewhere, Britain's domains range here. "It's sad to see former possessions 
air-conditioning repairman. “We pretty from die Falkland Islands, over which a go their own way, especially since West- 
much run the country ourselves, and we war was fought with Argentina in 1 982, minster started the wrong way around on 
have no income taxes. So there is no and die Gibraltar Peninsula to Diego this one and fouled up the negotiations 
reason for anything here to change.” Garcia Island in the Indian Ocean and the over Hong Kong a bit.” 

With Hong Kong’s transfer, the Brit- Pitcaim Islands in the South Pacific. As . “the biggest and by far the most 
ish Empire is reduced to this island and a While the sun still may never set over prosperous” of the colonies, Bermuda 
handful of other possessions scattered a diminished British Empire, the cere- maynowbeinaposition toget “farmore 


* way to the Privy Council. have no income taxes. So there is no and die Gibraltar Peninsula to Di 

Offered a chance at independence in a reason for anything hereto change.” Garcia Island in the Indian Ocean and 
Eerendum two years ago, Bermuda With Hong Kong’s transfer, the Brit- Pitcairn Islands in the South Pacific, 
ters chose to retain the status quo by a ish Empire is reduced to this island and a While the sun still may never set o 
margin of 3 to 1. handful of other possessions scattered a diminished British Empire, the c« 

The people who live here, on 22 around the globe. _ monies Monday nevertheless occasio: 


this one and fouled up the negotiations 
over Hong Kong a biL ” 


~ CHINA: 

Taiwan’s Turn Next 

Continued from Page 1 

ment. Mr. Jion£ and the six other mem- 
bers of the ruling inner politburo were 
joined by Yang Shangkun. the 90-year- 
old former Chinese president who has 
become the mosr senior elder statesman 
in the party since rhe death of Mr. 
Deng. 

A murmur rose from the stadium 
when Mr. Yang's face appeared on the 
giant television screen mounted, in the 
stands. 

As recently as five years ago, Mr. 
Yang was considered the most likely 
person to succeed Mr. Deng as para- 
mount leader. Mr. Yang, often a critic of 
President Jiang, has been a consistent 
advocate of bolder economic reforms 
and of political rehabilitation for those 
Chinese persecuted for participating in 
the pro-democracy demonstrations at 
Tiananmen Square in 1989. 

Perhaps more threatening to the cur- 
rent political order, Mr. Yang has also 
quietly worked to rehabilitate Zhao Ziy- 
ang to the position of a respected retired 
elder. Mr. Zhao is the party official who 
lost his job when he refused to send 
troops against the unarmed students in 
1989. 

President Jiang gor his job with Mr. 
Zhao's disgrace, 
ay Mr. Yang did not speak at the stadium 
id. celebration but his prominent position 

signaled that he remains an active player 

in the parry, even though Mr. Deng 
forced him into retirement in J 993 rather 
than follow Mr. Yang's suggestions on 
how to rearrange the younger generation 
oops of leaders. 

:ele- Those suggestions were said to in- 
Lind- elude the removal of Li Peng, rhe prime 
minister, who is most associated with the 
last Tiananmen crackdown, 
mads In his speech, Mr. Jiang paid tribute to 
the China's elders, who in the culture of the 
i the patty wield significance influence long 
ghts after they retire. 

nt to He said the return of Hong Kong had 
the "revived our profound memory” of 
real Mao's generation “who were the 
founders of new China and made out- 
standing contributions to the Chinese 
nation.” 

■ Taiwan Wants Hong Kong Ties 

Taiwan stressed Tuesday that ir 
wanted continued ties with Hong Kong. 
The Associated Press reported. 

“At the least. Taiwan and Hong Kong 
should be able to maintain their current 
level of relations, and we hope they will 
be able to improve and grow closer." 
said Mr. Chang of the Mainland Affairs 
Council. 

Interference by China would hurt the 
interests of all three, he added. 

The Chinese and Taiwanese govern- 
ments are “equal political entities” and 
long-term separation between the sides 
cannot be equated with Hong Kong's 
status as a British colony, he said. 

Because China has promised to grant 
Hong Kong considerable autonomy, 
Taiwan exempts Hong Kong from the 
tight restrictions it places on direct con- 
tacts with the mainland. It hopes the new 
■legal structure will preserve trade, cul- 
tural and travel links, partly because 
Hong Kong is the main conduit for 
Taiwan’s booming trade with China. 

On Tuesday, Mr. Chang's council 
'■ began handling relations with Hong 
el Kong through a newly established Hong 

ac Kong Affairs Office, bringing together 
xy=t portfolios previously held by the For- 
eign Ministry and other agencies, 
ho Taiwan has repeatedly expressed 

re, worries about China 's respect for Hong 
hn Kong’s institutions, 
bo War games staged last week were also 
ng considered a message that Taiwan's de- 
ins feose capability made it a separate case 
st- from Hong Kong, 
on Taiwan’s lively independent media 

ns provided extensive coverage of the 
handover and seven networks carried the 


monies Monday 


As. “the biggest and by far the most ceremony live, 
prosperous” of the colonies, Bermuda The coverage filled scores of pages in 
maynowbeinaposition toget "farmore daily papers, and talk shows solicited 


s occasioned attention' ’ from the British bureaucracy. 


’muda more man a decade ago. Jaidine square miles (35 square kilometers) of The bulk are in the Caribbean, where regret among a few traditionalists here. Sir David suggested hopefully. 

HONGKONG: 

Promises and Protests 

Continued from Page 1 

demiting on her flight to Washington. 

.The British foreign secretary, Robin 


-Cook, announcing plans for a return visit 
J"tt> Hong Kong and for Prime Minister 


opinions on the event’s significance from 
countless politicians and academics. 




) threatened to take Beijing to the United 
i Nations if it violated its agreement to 
] preserve civil liberties here. 

1 As the demonstration wound to a 
1 close, thousands of people headed to the 
\ waterfront for tho territory's biggest 
1 fireworks display and a floating parade 
\ in Victoria liarbor. . 
i An airoada of brightly colored floats 
} swirled through the harbor and Hong 
Kong's skyline shuddered as a $10 mil- 
Ifottthow planned for- a celebration of 
,a i Qt^sereunification - began with a roar. 

| The fireworks display was mirrored by a 
j smaller fireworks show and pageant in 
i Beijing. „ 





if: 

iv 



| In his speech; Mr. Tong outlined a 
I wide-ranging “10-year plan” for the 
; future of Hong Kong, in- which the ter- 
, ritory would build 85,000 new apait- 
1 meats a year to ease its chronic housing 
^shortage. To do dial, he said he would 
•Tspe^d up urban redevelopment, clear aD 
J'tenporaty housing areas and reduce the 
- average waiting time for rented public 
\ housing from seven years re three. 

Mr. Tung said die government also 
; would stop speculation in the property 
i fflaricet, develop high technology indus- 
■; tries and improve , the quality of cdu- 
I cation and teaching. 

“ * The new demonstration law, howev- 
; was the most controversial of a raft of 

■ new laws and measures enacted by the 
;• new legislature, ft also voted to tighten 
campaign finan ce laws, while Finance 
; Secretary Donald Tsang appointed a - 
. committee to oversee a $21.8 billion 
‘ hnd fund inherited from Britain. 



Taiwan Limits Travel by Its Military 


Reuters 

TAIPEI — Taipei said Tuesday that 
it was banning visits to Hong Kong by 
Taiwan's military and police person- 
nel now that the territory is part of 
China. 

From July 1, soldiers and police- 
men cannot make sightseeing or other 
pleasure visits to Hong Kong because 
of security concerns, although exemp- 
tions can be made for visits to ailing 
relatives or to attend funerals, a De- 
fense Ministry spokesman said. 

“It’s a matter of national security,” 
he said. 

"Since Hong Kcmg has reverted to 


mainland sovereignty, we feel it's 
necessary to apply the same regu- 
lations governing mainland visits to 
Hong Kong,” he said. 

The tightened rules on visiting the 
former British colony makes them 
identical to restrictions long applied to 
visits to the the Communist-ruled 
mainland. 

Exemptions for international con- 
ferences or business activities would 
be granted on a case-by-case basis. 

Taiwan has said its extensive ci- 
vilian contacts and exchanges with 
Beijing-ruled Hong Kong would re- 
main unchanged. 


..... 

I 


Ihr WwtalMnWi 


Chinese Soldiers Settle Down 
In Former British Barracks 


The royal yacht Britannia, port, passing the Ocean Wave 97 deployment in the South China Sea on Tuesday. 


That announcement followed die 
.overnight transfer of die food, which 
increased H wig Kong's foreign exchange 

reserves to more than $81 billion. 

Mr. Tsang will chair the committee, 
and Joseph Yam, chief of the Hong 
Kong Monetary Authority, and Chong 
Shui-Ming, a former chief of the fund, 
will be deputy chairmen. Six prominent 
private sector bankers will make up me 
rest of tbe cOTunittee. 

[Shares in Henderson Land Deve|- 
oproent Co. Ltd., one of Hong Kong s 
leading, developers, eased in Tokyo on 
Tuesday, Agence France-Rresse report- 
ed. And Hong Kong Land took a hit in 
Singapore.] 

The first meeting of the new Pro- 


visional Legislature resembled stuffy 
Chinese Communist Party meetings, not 
. the often heated debates of the Legis- 
lative Council it replaced when Hong 
Kong returned to China after 156 years 
as a British colony. 

At dawn Tuesday, about 4,000 
Chinese troops started arriving in storro- 
lashed Hong Kong in gunboats, heli- 
copters, trucks and armored vehicles 
mounted with machine guns. Hundreds 
of people fined the streets to catch a 
glimpse of them. Chinese leaders have 
repeatedly stressed that the troops' 
primary function is for the external de- 
fense of China. But their deployment has 
rekindled memories for some of the 
People’s Liberation Army’s role in the 


Tiananmen Square crackdown of 1989. 

The troops joined some 700 soldiers 
already here. More than 500 ottered on 
Monday and two advance parties of 200 
troops in ail anived in April and May. 
The soldiers wereimmediately deployed 
at bases vacated by British forces. 

Agence France -Presse reported that at 
least 20 armored personnel carriers, each 
with a roof-mounted light machine-gun, 
crossed into Hong Kong. And for the 
first time, PLA helicopters landed and 
PLA gunboats docked in Hong Kong. 

Delegations from some local councils 
waited to mate presentations to the 
troops who crossed the land border, and 
lion dances were staged along their route 
to wish them luck. 


Agence Frunce-Presse 

■HONG KONG — Thousands of 
Chinese Communist soldiers were set- 
tling Tuesday into comfortable new 
Hong Kong quarters, vacated just hours 
earlier by the British military, following 
the end of London's 156 years of co- 
lonial rule here. 

The main barracks in Hong Kong 
Island’s Central district, on Victoria 
Harbor, still bore its old name — Prince 
of Wales Building — but that un- 
doubtedly will soon be changed. 

The Chinese flag flew over the struc- 
ture and die guards were no longer in 
kilts but rather in the olive drab uniform 
of the People’s Liberation Army. 

Chinese military trucks and various 
types of vehicles packed the barracks 
pinking areas. 

But there was still ample room at the 


adjacent quay, where the last British 
warship docked in Hong Kong, the frig- 
ate Chatham, and the royal yacht Brit- 
annia had deported shortly after mid- 
night bearing Prince Charles and 
Governor Chris Patten toward Manila. 

Chinese military vessels were docked 
at the former British military base on 
Stonecutters Island, which thanks to 
landfill reclamation, is no longer on is- 
land but a small peninsula in the harbor. 

The Chinese Army already has major 
bases in the area around neighboring 
Guangdong Province. 

Bur Hong Kong, with its enormous 
shipbome container traffic, is of great 
importance to China in a larger geo- 
political sense. The former" British, 
colony, in its new role, underscores 
Beijing’s increasing interests in the 
South China Sea. 




• ; 






PAGE 8 


WEDNESDAY, JULY 2, 1997 

EDITORIALS/OPINION 


Hcralb 


INTERNATIONAL 



tribune 


PUBLISHED WITH THE NRW YORK TIMES 4 YD T11E fcViHKCTON POST 


The Empire’s Legacy 


Not just a colony ceased to exist as 
Hong Kong reverted to China early on 
Tuesday. An entire imperial epoch all 
but came to an end, fittingly and with 
Britain's sure sense of ceremony. The 
Prince of Wales spoke the right words 
and saluted as the Union Jack was 
lowered. 

The colony's last governor took the 
prescribed final rides around Govern- 
ment House. Defying drenching rain, 
bagpipes skirled and Gurkha officers 
barked their commands for parting 
precision drill. 

The eclipse of empire inherent in the 
ceremony was foreseen with uncanny 
intuition a hundred years ago in a poem 
of hypnotic cadences by the 32-year- 
old Rudyard Kipling. The poem was 
“Recessional," written for a vety dif- 
ferent occasion. Queen Victoria's Dia- 
mond Jubilee, and published.- in The 
Times of London on July 17, 1897. 
Unlike all the other celebratory words, 
Kipling's lines were steeped in pes- 
simism and sternly warned against the 
“frantic boast and foolish word." 

Bri tain in 1897 was the world's sole 
superpower, mistress of an enormous 
empire extending “over palm and 
pine." This was the age or New Im- 
perialism, when most Europeans, and 
indeed most Americans as well, were 


gripped by the half-examined belief 
that the West had the right and duty to 
rale the rest. Hence the shock when 
Kipling, the bard of empire, gazed be- 
yond the Jubilee to a time when the 
raptains and kings would depart: 

Far-called, our navies melt away; 

On dune and headland sinks the 
fire: 

Lo, all our pomp of yesterday 

Is one with Nineveh and Tyre! 

For Kipling, a romantic, the British 
empire was not just about profits or 
splotches of red on the map. The rulers 
were bound by honor to serve those 
they ruled, and they were beholden to 
the Lord of Hosts and Judge of Nations. 
By today’s standards, his vision may be 
wrongheaded, condescending and 
foolish, but it was not hypocritical. 

In fair measure, Britain did nurture - 
overseas belief in rules, fair play and 
free speech. 

Hong Kong's Chinese rulers will 
understandably dwell on the evils of 
colonialism. But a decent respect for 
truth requires an acknowledgment that 
Britain's legacy also includes Hong 
Kong's yearning for democracy and its 
material prosperity. As of early Tues- 
day, as Kipling foresaw, the empire 
now lives mainly in history. 

— THE NEW YORK TIMES. 


Outrageous Tax Plan 


One of the most bitter fights in con- 
nection with the tax bill the U.S. Con- 
gress is now writing has to do with a 
device called the earned income tax 
credit, or EITC. It's an obscure and 
underappreciated provision which, at 
$28 billion a year and rising, has be- 
come the major form of federal aid to 
low- and lower-middle-income work- 
ers. Partly to save money for other tax 
cuts heavily tilted toward the better- 
off. the Republicans propose to change 
the rules by which the EITC tradi- 
tionally has been applied in a way that 
would vitiate it The Democrats, led by 
the president, have mounted a defense. 
We hope on this they are unyielding. 
The rest of this bill is bad enough. To 
weaken a benefit for lower-income 
workers to pay for it is an outrage. 

The EITC was created in 1975, in 
part to compensate low-wage workers 
for the increasingly heavy Social Se- 
curity and other payroll taxes they 
were having to pay, and to sharpen the 
incentive to work. A number of other 
rationales have been used for increas- 
ing it over the years — that it con- 
stituted a child care subsidy for the 
working poor by another name, for 
example, or that it could be looked 
upon as an alternative to increasing the 
minimum wage. The basic purpose, 
through all the labels, has been to in- 
crease the after-tax income of lower- 
income working families — partic- 
ularly those with children. 

The credit thus comes at the very end 
of the income tax calculation; that's 
where it has come in the past, at any 
rate. First, workers figure what tbeir tax 
would be — the normal tax, you could 
call it — using all the other provisions 
in the code. Then they figure their ETC 
— j a percentage of earnings, on a com- 
plicated sliding scale. They use the 
EITC to reduce or eliminate their tax — 
and if there is any left over, the gov- 
ernment pays them thar amount The tax 


code and Treasury are used to admin- 
ister a government wage supplement 
The Republicans would reverse this 
order in the case of the children's tax 
credit that is a central element in their 
bill. What sounds like just a mechanical 
step — Who cares which calculation 
comes first? — turns out to have an 
enonnous effect. tnsfefiH of letting 
workers use the children's credit to re- 
duce, their liability and then collect their 
entire EITC in addition, they'd deny the 
children's credit to' workers whose 
EITC was enough to eliminate their 
liability. Millions of low-income house- 
holds would be losers, relative to other 
families with children. But at bottom it's 
not the children’s credit they’re playing 
with; it's the value of the EITC. 

The sponsors say it’s only fair to do 


as they propose, since the purpose of 

>illis 


this bill is to give relief to taxpayers, not 
add to “welfare." Of all the distortions 
they have used to grease and sell this 
awful bill, none matches this. The im- 
plication is that the people who would 
lose from this provision are freeload- 
ing. The absolute opposite is Hue. 
These are working people, typically 
with children and with incomes in the 


range of, say, $ 1 7,000 to $27,000 a year 
— precisely 


precisely the kind of struggling, 
taxpaying, not-on-welfare Americans 
for whom the Republicans profess to 
bleed The EITC may wipe out the 
income tax liability of many of them; it 
doesn’t wipe out their total liability, 
counting the payroll tax. They remain 
net taxpayers. Is this really the part of 
the population that the Republican 
Party wants to stiff in order to pay for a 
tax cut for folks much better off? 

The EITC is not a perfect instrument. 


but on balance it is benign- The pres- 
1993, to 


idem helped strengthen it in 
his credit We hope he now will draw a 
line; the Republicans need to under- 
stand that this one is out of bounds. 

— THE WASHINGTON POST. 


It’s pretty hard by now to besmirch 
the name of prizefighting, but if any- 
body was capable of finding a new way 
of doing so it would be Mike Tyson, 
abetted by his customary retinue of 
hangers-on and mis handlers. On Sat- 
urday night the former heavyweight 
champ look a bite out of each of his 
opponent's ears, causing bloody, dis- 
figuring injuries. It was about as out- 
rageous a ring performance as anyone 
can recall, and for Mike Tyson it ought 
to be the last, despite his apology Mon- 
day. The Nevada State Athletic Com- 
mission is to look into fines and other 
punishments; any suspension it hands 
down needs to be long enough that it 
serves to end Mike Tyson’s career. 

This is not to say that the assault on 
Evander Holyfield during a heavy- 
weight championship figbr in Las Ve- 
gas was the most appalling thing ever 
seen in the ring. Boxing is a sport in 
which, over the years, a number of men 
have been literally beaten to death in 
front of roaring crowds. Many more 
have suffered brain damage from the 
peared bead trauma of fight careers, 
le grainy film of Jack Dempsey bat- 


Bad Sport 


tering Jess Willard to the floor more 
than 70 years ago is as painful to watch 
today as the slow-mocion replay of 
Saturday night’s attack. 

What makes the weekend’s trans- 
gression so foul is the blatant and un- 
abashed offense against sportsmanship; 
the phony excuses Mr. Tyson offered 
up afterward about seeking revenge for 
what appeared to everyone else to be an 
inadvertent head bnn from his oppo- 
nent; the speech he delivered about 
protecting his children, his career, his 
very livelihood (this from a man whose 
purse for the night was $30 million), 
and his manager's crude, insulting 
comments about Evander Holyfield 

After Mike Tyson’s disqualifica- 
tion, there was a miniriot in the ring, 
followed by panic in the nearby casi- 
nos as gamblers scrambled out to es- 
cape violence or the threat of it (there 
was a lot of fighting going on between 
Tyson and Holyfield partisans). If any- 
thing good could be said of the night's 
proceedings it was that they gave a 
clear picture of a very bad business at 
its very worst. 

— THE WASHINGTON POST 


'T;* i t INTERMTMN U. 

ii cral b un e 


ESTABLISHED tW 

KATHARINE GRAHAM, ARTHUR OCHS SULZBERGER 
Co-Chairmen 

KATHARINE P. D ARROW, Hr? Chairman 


RICHARD McCLEAN, Publisher £ Chief Executive 
MICHAEL GETLER, Exec ur he Editor 


• WALTER WELLS, Managing Editor * PAUL H0RV1T2, Deputy Managing Editor 
’ KATHERINE KNORR and CHARLES MUCHELMORE. Deputy Editors • SAMUEL ABT and 
CARL CrEWIRTZ. Associate Editors • ROBERT J. DONAHUE, fiffirar of the Editorial Pages 
• JONATHAN GAGE, Business and Finance Editor 
• RENfe BQNDY. Deputy Publisher 

• JAMES McLEOD, Athertising Director • DIDIER BRUN. Oradmun Director. 
Direoeur dr tu Publication : 'Richard McOean 


International Herald Tribune. 181 AvenK Quites^tGaolls. 92521 NcmiIy-«ir-Seine. Ranee. 
TeLMlj41.45.93D0. Fat Subsaipd<nulUU3.91 IQ; Mvatisn&UJ 41.435112: New,U)4L43D3i8. 

Imemei 2ddn*«: bap^Aww.ihtccm E-Mail: ilu@ihLconi 
Editor far A-au. Mitluiel RhhuTdiim. CuimhunRil .SiagapmOy II. Tel I $5)472-7708. Fa: 1031274-1134 
Mn* Dir Asia. Rtif D Kr<aervM,50 Cbucestir Rd., Hong Kant. Td 852-2922-1188. Fm. &52-2922-ll<V 
On Mgr. Gcmm: T. kNmer. FnrAiriar 15.60323 Fm0aHM Td ■+rtffW7im0 Fas +4QtAl9?l250-S) 
fra VS ■ Wfi lud Conwy. 850 Third Are.. New fin*, N.Y. 10022. Td.i2l2i 752-3890 Fav t2l2l755-$7}£ 
t ’ A' Athenian? Office 63 Long Acre. London WC2 Tel. 07 D 836-4X01. Fas: 1 1 7I f 240-22S4 
SAS. an capital de 1200.000 F. RCS Namern B 732021126. Commission Ponuirt No. 61337 
fl/W./wenwTKuuJ Herabl Tribune. -Ml rights reserved ISSN. 0294-8032. 





A Heavyweight Fight in the Hong Kong Ring 

•/ O O . A-ftvres that could turn 


ft 


H ONG KONG — Maybe the most 
important point to keep in mind 
about Hong Kong on Tuesday is that the 
heaviest conceatratioii of Chinese troops 
here was not in the city center to protect 
the handover ceremony. It was along die 
border between China and Hong Kong, 
and those troops woe there to keep out 
the millions of Chinese eager to nock 
here to become part of Hong Kong. 
Everything else is just commentary. 

That is to say, in the great straggle 
over who will now influence whom — 
China or Hong Kong — don't write off 
Hong Kong so quickly. 

China is big, but Hong Kong is fast, in 
a world where speed of adaptation, in- 
novation and production is everything. 
China is heavy and Hong Kong is light, 
in a world where light is everything, 
because the lighter your products the 
more knowledge they usually contain 
and the more they sell for. China runs on 
coal, Hong Kong runs on information in 
a world where information technology 
is the key to a modem economy. China 
is the past, Hong Kong is what 'China 
wants to be when it grows up. 

It's no accident, as Business Week 
reported, that one of the most popular 
rock songs in China today is “My 
1997." by the pop star Ai JIng, with its 
lyrics: " Hong ICong, Hong Kong, 
what 's it all about? ! ... Take me to that 
wonderful world, / Give a passport to 
this girl . ... i Come on 1997! So I can 
make ir to Hong Kong." 

China has promised to treat Hong 
Kong as a special autonomous zone, 
preserving most of its old freedoms and 
all of its old capitalism. 

China has promised to maintain 
“one country, two systems." 

Let me make one prediction; “One 
country, two systems" is not what is 
going to happen here. 

Either you will have “one country, 
one sysrem, ' ’ and that system, over the 
long haul, will look more like Hong 
Kong than today's China, because 
Hong Kong is such a powerful model 


By Thomas L. Friedman 


~ rhina Still, the forces that could nun Hong 
county and city governments m “one country, no system 

have major investments in Hong KoQ=, ; considerable, and they. 100. 

and Hong Kong is already financial}, . ° Hong Kong- 1 worry less about 

Cta deUteraidy tryug to 


British foreign policy writer John Chip- 
man calls “one country, no system." 
Because China today is a big country 


nuns — 7 - - 

derworld activity in the days_< 
British, but nevertheless, when n came 
to the core business of tbe city, the 


up the Pearl River 

dong Province, creating a huge mte- 

ubwuoc k.uuiaiuua]i u a w{n.uuuu; grated megalopolis of 2() mi wi core ou»uw» v* *-ji 7— 

heading toward no system. It has people playing by Hong Kong s ru - .. delivered a professional admin- 

largely abandoned communism, but it And as Margaret Tocher * « a British official here re 

*.11 1 — — s~.i: — rsu here the other day, how long will ir be, tsiranon. as * 

now that Hong Kong is back in China's 
hands, before the other cities of China 


has not fully embraced capitalism. Oh 
yes, it has die hardware of capitalism 
. — free markets — but it still has little 
of the software to go with it: the reg- 
ulatory bodies, the transparent mar- 
kets, the rule of law. 

Chen Yaying, a 24-year-old waitress 
in the Chinese city of Shenzhen, was 
quoted in the' papers here Tuesday 
morning about why she couldn't wait to 
cross into Hong Kong. "In Shenzhen," 
she said, “few people observe traffic 
lights and they cross the road whenever 
they like. " One country, no system. 

The strength of Hong Kong was that 
it combined Chinese capitalist hard- 
ware — that is, Chinese entrepreneur- 
ial talent, energy and money — with 
British software — the rule of law, an 
independent judiciary and the enforce- 
ment of contracts and property rights 
— and together they made Hong Kong 
rich andpowerful. The real danger here 
is that C hina, now that it has taken over 
Hong Kong, will put its virus in Hong 
Kong’s software. 

To be sure, the case for that not 
happening and for Hong Kong dom- 
inating C hina remains considerable. 
For the last 20 years Hong Kong has 
reshaped China, much more than the 
other way around. One-third of Chin a’s 
foreign exchange earnings come from 
Hong Kong. Hong Kong is the single 
largest foreign investor in China. 
Roughly 50 percent of China's exports 
to the United States and the United 
. States's exports to China go through 
Hong Kong. Hundreds of provincial. 


The real choice is ‘one 
country , one system ’ dr 
* one country, no 
system 


start asking, “Why is Hong Kong dif- 
ferent — the same people, the same 
talents and abilities?" The only dif- 
ference is that Hong Kong has the 
software of free markets, and China’s 
other cities don'L 

And while Britain is largely respon- 
sible for that software, this democratic 


marked before leaving, “Weaiways 
made sure that the gamblers and the 
croupiers were kept separate. _ 

Thai takes constant vigilance. Ibis is 

. one complicated city. ■ 

“We’re like Rick's Cafe in Casa- 
blanca,' " said the Hong Kong veteran 
silting next to me at the official hand- 
over dinner. "Every possible strand 
and character in this part of the world is 
present in Hong Kong." 


Unfortunately, Tung Chee-hwa. the 
Hong Kong, has initially 


new leader of l— « , 

surrounded himself with a kitchen cab- 


capitalism is also the natural outgrowth 
of Hong Kong's own development. 


Anyone who Thinks that democrati- 
zation in Hong Kong was just an 1 1 th- 
hour maneuver of the last British gov- 
ernor. Chris Patten, is sadly mistaken. 
Mr. Patten was not the cause of the 
democracy movement in Hong Kong, 
he was the effect of it. 

Hong Kong is a city-state with a per 
capita income of 526,000, seven uni- 
versities, 90 percent literacy and a work- 
force largely employed in white-collar, 
knowledge-based services. To think 
that such a community, so econom- 
ically empowered, would not demand 
political empowerment as well is an 
utter illusion. China is going to learn 
that lesson very, very soon. 


met that includes some business elites 
who have little respect for democracy 
and appear more interested in cutting 
their own deals with various power 
centers in China than guarding Hong 
Kong’s unique character. . 

If Mr. Tung isn’t vigilant about de- 
fending the integrity, and autonomy of 
Hong Kong, the impulse for people here 
to go around the Hong Kong govern- 
ment, and team up under the table with 
allies in Beijing will be enonnous. 

But it's too early to judge Mr. Tung. 
All that one can say for now is that what 
happened Tuesday was the end of the 
struggle between Britain and China over 
who owns Hong Kong and the begin- 
ning of the struggle between China and 
Hong Kong over who owns the future. 

The good news is that this is not a 
fight between a gorilla and a mouse. It 's 
a fight between two gorillas. As for me. 
I'm still betting on King (Hong) Kong. 

The Neu- York Times. 


f v 1 


1 

* 


Free Trade Doesn’t Create More Jobs, It Creates Better Jobs 


W ASHINGTON — Presi- 
dent Bill Clinton is to is- 
sue a report card next week on 
the first three years of the North 
American Free Trade Agree- 
ment, or NAFTA. He’ll say it’s 
been a success because U.S. ex- 


By James K. Glassman 


ports have risen despite Mex- 
ico’s terrible financial crisis. 


merits will say it's been a 
failure because the U.S. trade 
deficit has widened and we- 
Americans have lost jobs. And 
we’U be back to a bloody fight. 

NAFTA won’t be repealed, 
but if it's perceived as a flop it 
will jeopardize the extension of 
liberalized trade to Chile, the 
rest of Latin America and Asia. 

In order to win agreements 
with those countries. President 
Clinton needs "fast track” ne- 
gotiating authority, so Congress 
can’t delay the deals or add crip- 
pling amendments. Fast track is 
vital, but to get it, advocates in 
the White House and Congress 
are going to have to stop mak- 
ing the wrong arguments on be- 
half of more open trade. 

The worst is that free trade 
creates jobs. It doesn't, but it 
does do something far better. It 
creates wealth. 

Jobs are not an end in them- 
selves. They are the price we 
pay for what we really want. Or 
as Adam Smith put iL in 1776, 
“Consumption is the sole end 
and purpose of all production. " 


Imports are the benefit; exports 
are the cost 

This is a tough idea for Amer- 
icans to grasp. But consider an 
anecdote tola in the Cato Jour- 
nal by Jerry Jordan, president of 
the Federal Reserve Bank of 
Cleveland. 

Mr. Jordan describes a U.S. 
businessman visiting China a 
few years ago. The American 


Concede the losses: 
they’re part of the 
creative destruction 
that leads to a 
stronger economy. 


came upon a team of 100 work- 
ers building a dam with shovels. 
He commented to a local of- 
ficial that, with an earthmoving 
machine, a single worker could 
build the dam in an afternoon. 

The official replied. “Yes, 
but think of all the unemploy- 
ment that would create." 

“Oh," said the businessman. 
“I thought you were building a 
dam. If it’s jobs you want to 
create, then take away tbeir 
shovels and give them spoons." 

Work is what we need to do 
in order to acquire things to live 


well. Free trade helps us get 
those things more cheaply be- 
cause it allow s many more pro- 
ducers to sell them to us — and 
because it frees us to concen- 
trate on the work we do best. 

Say, for example, that a 
country is full of brilliant elec- 
tronic engineers but that it 
won't allow any textile imports 
across its borders. The engi- 
neers would have to sew their 
own shirts to wear. They’d have 
less time for electronics and the 
country would be poorer for it. 

What about a trade deficit? 
Imagine that the country that 
sells the shins never buys the 
electronics. Instead, it takes 
back little pieces of paper 
called, say, dollars. That doesn’t 
sound like such a bad deal for 
the electronics-specializing 
country: They send us shirrs, we 
send them paper promises. 

But the protectionist impulse 
has always been strong in 
America. In Adam Smith's 
words: “In a mercantilist or 
protectionist system, the in- 
terest of the consumer is almost 
constantly sacrificed to that of 
the producer." That’s because 
producers — and their union 
allies — don’t like competition, 
and they enlist the aid of politi- 
cians to keep it oul 

To resist the protectionist im- 


pulse, the United States has 
needed tough, principled pres- 
idents. Unfortunately. Mr. Clin- 
ton is preoccupied (he almost 
lost NAFTA and the World 
Trade Organization for the 
same reason). He also wants his 
vice president, Al Gore, to suc- 
ceed him — and Mr. Gore's 
likely Democratic foe. House 
Majority Leader Dick Gep- 
hardt is a fierce opponent of 
extending the NAFTA idea. 

A nervous Clinton adminis- 
tration asked Representative 
Bill Archer, the House Ways 
and Means chairman, to put off 
consideration of fast track until 
September. Mr. Archer had no 
choice but to delay. He assured 
me recently dial "fast track 
isn't dead.” Maybe not, but the 
threats are ominous. 

They’ll grow worse. The 
president’s report. I’m afraid, 
will only highlight the errors 
made by NAFTA advocates. 

“Free trade does not create 
jobs,” writes the Stanford Uni- 
versity economist Melvyn 
Krauss in “How Nations Grow 
Rich," his excellent new book. 
Instead, “it creates income for 
the community by reallocating 
jobs and capital from lower-pro- 
ductivity to higher-productivity 
sectors of the economy." . 

Free trade gives us not more 
jobs blit better jobs. It may kill 
jobs in the textile industry. 


which is labor intensive, but 
breed new jobs in electronics. 

Concede the losses; they’re^, 
part of the creative destruction' - 
that leads to a stronger econ- ' 
omy. The Labor Department, 
has declared 1 25,000 job-losing- 
Americans eligible for special . 
NAFTA aid, including 636 
workers at a toilet paperplant in 
Memphis, Tennessee. Tnrough, 
such events, the market is 
telling us it’s more efficient for 
some other country to make our- 
toilet paper. 

But it’s sheer lunacy to argue 
that, on balance, free trade' 
hasn’t made the United States" 
richer. In the years since NAF-. 
TA and the WTO were estab- 
lished. our unprecedented eco- * 
nomic boom, has only- 
accelerated. Gross domestic 
product is rising at an annual 1 
rate of 4.1 percent Unemploy- • 
ment is just 4.8 percent. yj 

“There can be no doubt," JH» 
writes Mr. Krauss, “that the ' 
prosperity of the industrial na- 
tions since World War H has - 
been due largely to global spe--. 
cialization and interdepen- • 
dence." 

Exactly. That’s .why we - 
trade. And that’s why our _ 
prosperity is at stake if — out of I 
cowardice, ignorance and cyn- 
icism — Congress and the pres ^7 
idem decide now to retreat . 

Washington Post Writers Group. 


Answers to Some Common Questions on NATO Expansion 


P ARIS — A few days ahead 
of" 


NATO’s first expansion 
toward the east the step has 
raised questions — for which 
there are answers. 

• Will enlargement dilute an 
alliance — a security system — 
that has woiked well for 50 
years? 

To remain effective, the al- 
liance has to adjust to a Europe 
that for the first time in 50 years 
is not divided. Tbe new stage is 
the first pan of a process of 
adaptation to make the alliance 


By Alfred Cahen 


that they don't really need atthis the values of the alliance, and 
stage — is re-entry into the that among those sharing these 
Western worid. True, this could values are the members of the 
have happened through adhesion European Union as well as the 
to the European Union, but that . candidates for EU membership, 
process remains slow. So these — ” 


central El 


adapt as Europe changes. Ro- 
land Smith of Britain's Foreign 


Office said recently: “There is 
no contradiction between these 
objectives and our wish to keep 
the alliance militarily effective. 
A collective approach to de- 
fense planning within NATO 
promotes transparency and trust 
between allies and discourages 
the risky, and expensive, re- 
nationalization of defense." 

At the same time, he said, “it 
means that when a multination- 
al force is needed, as in Bpsnia, 
NATO can provide iL” 

• Aren *t countries earmarked 
for the "first wave" the ones 
that are the least threatened 
while the most exposed coun- 
tries — the Baltic states, 
Ukraine — are left out? 


Luropean countries give 
priority to alliance membership. 

• Aren’t some countries be- 
ing condemned to second-class 
status? 

NATO is not going to forget 
— and is not going to be allowed 
to forget — countries that aren't 
in the first wave of membership. 
Poland, Ukraine and the Baltic 
states recently appealed to the 
alliance to remain open to al} 
countries that want to join. At 
the summit conference in Mad- 
rid. NATO leaders are certainly 
going to promise an open door 
for further expansion. 

• Isn’t enlargement a “new 
Yalta," redividing Europe be- 
tween NATO and other states 
that are only associated with the 
alliance but not members? 

NATO has made it clear that 
all interested states can be in- 
volved in the new Euro-Atlantic 
security architecture — not 
only in its implementation but 
also in its management. 

The commitment was aitic- 


including the Baltic states.’ 

• Isn 't the OSCE being over- 
looked? 

On the contrary, linkage -with 
NATO is essential because of 
the cumulative effect of security 
safeguards extended in the two 
organizations. The enlargement 
of both organizations should, 
therefore, be compatible and 
mutually supportive. An even- 
tual brood congruence of Euro- 
pean membership in NATO, 
EU and the Western European 
Union would have a positive 
impact on European security. 

• What about the cost of en- 
largement? Can new democra- 
cies struggling to achieve in- 
dispensable economic reforms 
afford the modernization of their 
armed forces needed to bring 
them up to NATO standard? 

These governments believe 
that they can get security (and 
military modernization) more 
cheaply in the alliance than on 
their own outside iL Asked if 
they wanted membershipeven if 
it involved financial sacrifice, 


member states. Are we stum- 
bling toward confrontation? 

President Boris Yeltsin’s ac- 
ceptance of the Founding Act is 
a fact — not a speculation. It 
implies Russian agreement to 
be a part of the new Euro-At- 
lantic security architecture. 
True, a majority in the Russian 
Parliament, the Duma, remains 
hostile. But does it represent the 
real feelings of the Russian 
people? Public opinion as a 
whole has not reacted. Is the 
Russian electorate going to re- 
turn the present Duma majority 
to power? Probably noL 


• Will the lion’s share of 
armaments orders by newmem^ 
bers go to the United States? 

It's up to the Europeans to 
compete. The WEU would be a" • 
good forum for consultations 
designed to produce packages/ - 
perhaps sometimes in cooper- 
ation with U.S. companies, de- : 
signed to meet the prospective 
allies’ circumstances. 


4 i 


The author, a retired Belgian--' 
ambassador, is secreiary-gener-- 
ai of the Atlantic Treaty Asso- 
ciation. He contributed this 
comment to the Herald Tribune. ■ 


-1 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO j - 
1897: Siam Quarrel 


P ARIS — For the French, every 
inhabitant of Cambodia must 
have fulfilled certain conditions 
as to residence in order to obtain 
French protection. The Siamese 
Government, on the other hand, 
demands thar only families as 
have resided in Cambodia for 
generations past should enjoy 
this protection. Hence the con- 
tinual conflicts. But the French 
base great expectations of * 
settlement of 


was normal, and railroad ex-1,- - 
ecutives claim that it can befafc; 
maintained despite the strike.j\£ 
However, the strike of 225,000* *; 
maintenance and right-of-way!.* 
workers has not yet been called.! % ; 
Presidenr Harding said that the} i ; 
Federal Government will fuliy{ i 
enforce decisions of the Rail-; j- 
road Labor Board, whether af-j ? ■ 
fecting executives or wdrkmen.|.. 


1947: Rationing Ends ! 


about to be. If threats do exist, he wrote (IHT, May 30) that 
they arise on die southern rim of ■ NATO leaders should declare 
Europe and involve local situ- that "NATO’s security is in- 


arms, nota peer power or evena 
local hegemon. The whole idea 
of the new Euro-Atlantic secu- 
rity archhecture is to consolidate 
a situation in which military 
threats become obsolete! 

What prospective new mem- 
bers want out of NATO — much 
more than a security guarantee 


loiy 

whole of Europe: that the con- 
solidation of democratic and free 
societies on the entire continent 
in accordance with OSCE prin- 
ciples is therefore of direcr and 
material concern to the alliance; 
that it shall be NATO's policy to 
support free nations which share 


have seen Count Mouravieff, 
wbo will have made him un- 
derstand how important it 
to settle the matter. 


is 


rationing,- smokers 
France really felr free to smoke I 
to their hearts’ content yesterday 
[July 1] when tobacco and cig-! 


sflUHUHr- — bisihiuuu me lAMiiuuuiiciii wu aim- 11 mvunai iui«uii.iai SOUU1CC, rctuciiiwu Or this affair Qfl PA PTC I - ■ 

No European country’s secu- ■ ulaied by Klaus Kinkel, Ger- majorities said yes in Poland and the forthcoming visit of the ~. After seven of . 

rity is seriously threatened or many’s foreign minister, when Romania. In none of these coun- King of Siam to Paris, as he will .- 0nin &-_ snookers in’ 

tries is there a hostile majority, L ‘ “ 

* George Keen an, the great 
scholar of Russian affairs, 
maintains NATO’s expansion 
could “inflame nationalistic, 
anti-Western and militaristic 
tendencies in Russian opin- 
ion.” And there seem to be am- 
biguities between what the al- 
liance says it promised and 
what Russia thinks it has gotten 
on NATO activities in new 


1922: U.S. Rail Strike 


NEW YORK — Although 
400.000 railroad shop workmen 
walked out to-day [July 11 in a 
strike, the public was hardly 
aware of the fact. Train service 


arettes went on free sale. In Par-* 
is. the rush to buy was so great! 
that many tobacco dealers were* 
obliged to apply tire brakes again* 
when their stocks' threatened to) 
disappear. Inveterate smokers’ 
did not seem to mind the 75 per! 
cent rise in the price of the van-' 
ous brands manufactured by the* 
French State monopoly. 


} 


I CM u£o$ 









INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


OPINION/LETTERS 


PAGE 9 


igRing 

tiV :*jj! t v4:.i ; .. . 

nr.* "one ... : 

.} _ 

:■ Hitr.uKu::*:. } . 

nu>:e .ihuji ?{ . 

* «?«■'«* lit m;?j: ;; ‘ 

J Ki?p ? 

itl rn .-j | 

iiu! :i(p\«nhirk-,%. 

wre huAiiijr.i., 

<Jc i;vrr CO 0 P! i 
i ^ Br::i*r. , 
iVfi.ro 

:.*ic y.in.r . . 
WCiV fetfpr .. . 

ttke^iTuSli.C!^! 

'".piiC vi! i 

rc like Kick * ( 

(ill* U|..| ■ k 

is*X! 4 l» ; T,r jL r rr^- . 



Ht'i.y K. 

rtlitiiiKty i -j :i f 
jo.- i?i K..-;: . 

- 10 , 2 irrvei/ 


ij .....I" ' - v ^ ■ • . 

c.l ro..»ro .nu:,-. 
Jo.iS tA or. >. • 

1 _ 
U'lLjliv CilMM. '.c: 

I ui'.v ■. .. 

-v.v ■. r, ii '.'n "k .I*.. ; 

*n.a. kw ;p.irc:>. 

juii.! f r, .* Hur.s; j*.. 

. . 

V !**• 

;r?o oxi -.j\ !•■: • 

o ruO'j*L:> 
itclv. tfeu bi:ui:i! , , • 
;••• H: Ko.ii; .■ . 

jV i’.racf.c *v.v 

y.’i.J . \A ■ .‘.I ; 

'\'i: n. - w\ I*. !r„,'. • 

:!Y‘<rkl. r-i « . t;. 

“CtliflL" *.«n k ■ f i 


Setter Jobs 


|l IBM Sends a Message: 
i| High School Counts 


W ■ h i m r ■ 


By Robert J. $amneIeon 


W ASHINGTON— We had a 
small announcement from 
j international Business Machines 
j crop, the other day that could 
! have large consequences for edu- 
! cation.. The company said ir had 
! begun asking for high school 
1 transcripts from young workers 
! wanting manufacturing jobs, 
i The idea is to persuade stu- 
J dents in high school — when the 
i cult of cool is often so contemp- 
| iuous of adult values — to take 
, school seriously. IBM is saying 
1 that how they do in school mat- 
[ rts and that a diploma, by itself, 
i is doe enough. 

j It's a crucial message. Mo- 
i tivating students is the central 
j problem of high schools. Perhaps 
i the only exceptions are students 
j aiming for elite colleges. Com- 
i petition for scarce spots compels 
1 these students to work hard. But 
! only 100 to 200 colleges have 
1 tough entrance requirements. 

| Most others gladly take any high 
» school graduate. Without stu- 
\ dents (and the federal and state 
\ funds they bring), these colleges 
J would cease to exist. And almost 
I 40 percent of high school gradu- 
1 ares do not go to college. 

| Since World War II, the eco- 
j Domic worth of a high school 
; diploma has eroded as more 
* Americans have gotten one. In 
1 1940, only 25 percent of adults 
i i 25 years and older had graduated 
1 from high school. That was 82 
i* percent in 1995. 

1 A high school diploma no 


*■ P'sn 


f ‘609 1 
1 A 


longer guarantees a well-paid 
job. This has been particularly 
true since the 1970s. the econ- 
omists Richard J. Maritime and 
Frank Levy write in their recent 
book, “Teaching the New Basic 
Skills." Employers, reacting to 
declining profit margins and 
rising competition, became more 
selective in their hiring. Compa- 
nies began to favor college 
graduates for jobs that had once 
gone to high school graduates; 
skilled factory jobs, office man- 
agers, technicians and customer 
representatives. 

Companies preferred college 
graduates not because these jobs 
involve college-level skills but 
because a high school diploma 
no longer seemed to signify the 
needed competencies. 

These are what Mr. Mumane 
and Mr. Levy call ‘ ‘the new basic 
skills. ” They include the follow- 
ing: doing ninth-grade reading 
and math; solving “seraistruc- 
tured problems where hypoth- 
eses must be formed and tested”; 
and communicating clearly in 
written and oral speech. Perhaps 
half of all high school seniors 
lack these skills, they conclude. 

Why? It’s not because, most 
students' are stupid or lazy. The 
best answer is: peer pressure. In 
after-school jobs and sports, 
“young people work very hard," 
writes the economist John Bishop 
of Cornell University. But no 
“adolescent wants to be con- 
sidered a ‘nerd’ ... or (for blacks) 









m 


to be viewed as 'acting white.’ ’’ 
Alone, schools can't easily 
change die climate, because they 
also face pressure from parents 
not to be too tough. 

In research, Mr. Bishop has 
shown that outside standards that 
schools cannor manipulate — 
graduation tests, entrance require- 
ments — raise achievement. The 
job market could impose one such 
standard. If high school graduates 
who did well earned higher 
wages, there would be more rea- 
son to work harder. 

But in early jobs, they don’t 
After five or six years, those with 
better skills earn more, as per- 
formance is rewarded through 
promotion. But the time lapse is 
too great to impress most stu- 
dents. The message doesn’t get 


tluXfl/ru 


-Cock 6 Cr^SdtLt -u 

Mtoui. /kjae/iut, 

K L Bwt c(o *m 


WfeJiue*- i froggy 
CLwj ^ • 

fap r 7) 

Q-i. Qcwfnt UjclLu^ 


back What IBM aims to do is 
make the connection. Anyone 
within five years of high school 
applying for a manufacturing job 
will be asked: What courses did 
you take? What were your 
grades? Were you on time for 
class? Those receiving job offers 
will have to provide transcripts 
to verify their answers. In iso- 
lation, IBM's policy won’t mat- 
ter much. Only about 10 percent 
of its 125.000 U.S. jobs are in 
manufacturing. Still, IBM's 
change shows a new willingness 
to impose meaningful standards 
directly on students. We are see- 
ing other examples. The Chicago 
school system has rejected social 
promotion in word and deed. It 
flunks students in eighth and 
ninth grades who are well below 


grade level. They have to go to 
summer school or repeat. 

The fault for overlooking high 
school transcripts does not lie en- 
tirety with companies. “Equal op- 
portunity’’ laws bar employment 
practices — giving tests, asking 
for grades — that might have a 
“disparate impact” on minorities 
unless the practices have a “val- 
id” relation to the job. So IBM 
had to do research showing that 
good grades improve job perfor- 
mance. But most employers can't 
afford research; the foolish re- 
quirement ought to be repealed. 

If we expect students to take 
school seriously, we have to take 
what they do in school seriously. 
Unless they see a reason to work 
harder, little else matters. 

Washington Post Writers Croup. 


LETTERS TO THE EDITOR 


/America Needs Work 

<■ 

Regarding "Jospin Says U.S. 
liar frying to Impose Its Wars in 
Denver" (June 25): 

i Europeans can give some solid 
lessons to us Americans about how 
to show concern for our fellow 
citizens and to respect Judeo- 
Christiau values. Rather than lec- 
turing our guests at the Denver 
summit meeting, perhaps we 
should have listened more closely. 

The American way of concen- 
uhling too heavily on the gen- 
eration of wealth and neglecting 
the social-economic fallout leaves 


a lot of broken lives in its wake. It 
would be better to focus more on 
problem prevention than on pick- 
ing up the pieces. 

A little more emphasis on edu- 
cation and serious job training for 
teenagers would go a long way 
toward helping us r ealize the 
American dream for the forgotten 
ones- on the bottom. 

ROBERT F.ILUNG. 

Potto, Portugal. 

Shortly after reading about 
Presideni Bill Clinton’s gloating 
over the low U.S. unemployment 
figures at the Denver summit 


meeting, I happened to read about 
imprisonment rates in various 
countries. For each 100.000 
people, the study found, most 
European countries have about 
100 citizens in jail. The United 
States, along with Russia, figured 
at the high end of the scale, with 
more than 600 incarcerations per 
100.000. 

Although this figure must in 
some way contribute to America's 
low jobless rate, it is not one that 
Mr. Clinton wanted to boast of to 
his European counterparts. 

JAMES WILSON. 

Paris. 


‘Machines of Death 9 

Regarding "Clinton Sides With 
Pentagon on Mines" (June IS): 

Land mines are immoral. These 
revolting devices kill indis- 
criminately. Tbe American mil- 
itary states that such machines 
of death are necessary for "pro- 
tecting our troops and saving 
lives.” 

Other solutions are available. 
No civilized person can accept 
that our children can thus be torn 
apart. 

NICOLAS DE TREY. 

Rueii-Malmaison, France. 


A Vote but No Voice 

Regarding " Toward a 5 1st 
State?" (Editorial. June 9): 

The editorial says: “Puerto 
Ricans are Americans. The issue 
is that they are citizens without 
■full political rights, including a 
vote in Congress.” 

I can think of another group like 
this: U.S. expatriates. 

We can vote through our last 
state of residence, but we have no 
one representative to speak for 
us. 

JOHN GREGORY. 

Jouy-sur-Eure. France. 


A Bunch of Loopy Rules 
For Washington Players 


By AI Kameu 


W ASHINGTON— And now. 

the winners of die First An- 
nual “In the Loop" Washington 
Rules ContesL 

More than 300 readers entered 
from all over the world, much to 
our surprise! Some submitted 
dozens of aphorisms and obser- 
vations on how Washington 
works. One contestant submitted 

MEANWHILE 

63 — in an effort to win an of- 
ficial, 100 percent cotton “In the 
Loop” T-shirt. This is definitive 
proof that people — particularly 
Washington Post readers — have 
far too much time on their hands. 

Here are some of the panel’s 
favorite responses: 

ON POWER: 

“Ostensible power is making 
the speech or doing the meeting: 
real power is writing the talking 
points.” — Kevin Boyd, an econ- 
omist 

“Power obtained is power 
taken from .someone else.” — 
Paul M. Cole, a telecommunica- 
tions consultant. 

"In Washington, it’s not so im- 
portant that you succeed, but that 
your friends fail.” — Mike 
Doble, a public relations exec- 
utive. 

ON PLAY: 

"Politics is Hollywood for ugly 
people." — Scott Milburn. a 
House aide. 

“An only-in-Washington pick- 
up line: ‘So. was that you on C- 
Span yesterday?'" — Shannon 
Stewart, a House aide. 

“Overheard at a Washington 
cocktail party: ‘I’m not anybody 
myself, but I am on the staff of 
somebody.* ” — Mike Tongour. 
a former Senate aide and now a 
Washington lobbyist. 

“Sex is to love as Washington 
is to truth” — L. H. Boivin, who 
works for the Federal Aviation 
Administration. 

ON SURVIVAL: 

‘ 'The precision of the answer is 
inversely proportional to the sig- 
nificance of the question. " — Mi- 
chael D. Bind, retired from Treas- 
ury's office of tax analysis and at 
the Joint Committee on Taxation. 

“The worse the news, the 
lower ranking the official chosen 
to announce iL” — Jeffrey R. 
Kera, who works in the State De- 
partment’s operations center. I 
* * Screw-ups are like hula hoops 


and firisbees. They are easy to 
work with if spun properly.” — 
i Anthony Schreiber. a sales rep- 
resentative. 

’’When in doubt, obfuscate," 
— Ron Nessen, spinmeister for 
former President Gerald Ford. 

“Flexibility is the key to suc- 
cess . Indecision is the key to flex- 
ibility.” — Eric Larson. 

“I didn’t do it. 1 didn't mean to. 

I didn’t know. It’s not a crime. 
They did it. too. I'm sponsoring a 
bill to ban it." — Paul Singer, a 
reporter. 

ON PROCEDURE: 

“If you torture numbers long 
enough, they will confess to any- 
thing." — Charlie Thayer. 

"Anyone talking about the next 
cycle is not discussing their hor- 
mones.” — Elizabeth Chadder- 
don, an event coordinator for the 
Democratic National Committee. 

“The fact chat it didn't work 
before doesn't mean we will not 
try to make it work again.” — 
Erik Kjonnerod. a senior fellow ai 
the National Defense University. 

“Whatever you think ir costs, 
multiply by 10.” — David 
Sarokin. a manager at tbe En- 
vironmental Protection Agency. 

“It's only precedent if you fol- 
low it. ” — Barret L. Brick. 

“State that your bill stands for 
the opposite of how it reads." — 
Alexander Greenfeld. a Washing- 
ton libel attorney. 

ON PERFORMANCE: 

“Being seen is not as important 
as being anonymously heani" — 
Beverly M. Baker, a George Wash- 
ington University law student. 

“An ounce of perception is 
worth a pound of performance.” 

— Steve Tirpak. 

"If they are begging for a few 
dollars, they are street people. If 
they are begging for billions, they 
are lobbyists.” — James Boone, a 
George Mason University profes- 
sor. 

ON STYLE: 

“Sincerity' is a style like any 
other." — Steve Kraft, an en- 
gineer. 

“Just a spoonful of saccharin 
helps the mendacity- go down." 

— Phil Frankenfeld. 

AND THEN ... 

“You can never be late for the 
Senate.” — Adam Clymer. a re- 
porter who covers Congress. 

“The buck doesn’t stop.” — 
Don Wolfensberger. 

The Vush union Post. 


BOOKS 


•• t j 






j .... 

.«M.- r*: 

- 

• Vs 

•-f • : 


i. ■■ ui.- 
-i,*c •>. ; 

7- 

.-•'j tirJ-:. c 


Expansion 


‘ ... 


v -Ji ' 


• THE WHOLE 
SHEBANG: 

A State-of-the- 
Universe(s) Report 

By Timothy Ferris. 393 pages. 
525. Simon & Schuster. 
..Reviewed by 
soel Achenbach 

A mbitious physicists 

would very much like to 
explain away the entire uni- 
verse, drain it of mystery, de- 
code its essence. They'd like 
to finish once and for all tbe 
job begun thousands of years 
ago by astrologers, shamans 


S Call to order 
this book... 

„.or 350,000 other 
titles, air-shipped lo 
jouJromthe U.S. 

Ask brcwlmcaMogabost’Selers 
' L 33 (DJI 39 or 01 01 Rc 33 (0)138 010077 

a 


and lonely shepherds staring 
into the night sky. Ideally, 
physicists would hope to boil 
the universe down to a few 
simple, aesthetically pleasing 
equations, a few mathemat- 
ical truths from which 
everything in the cosmos 
emerges in a natural and or- 
derly if not inevitable fashion. 
They would like the universe 
to be something less than a 
miracle. “The task of die 
physicist is to see through the 
appearances down to the un- 
derlying, very simple, sym- 
metric reality," Timothy Fer- 
ris writes in his new book, 
“The Whole Shebang: A 
State of the Universe! s) Re- 
port." 

But clearly the physicists 
still have a lot of explaining to 
do. They have detected tbe 
expansion of the universe, 
with its implication that the 
universe was once exceed- 
, ingly small, but there are still 
debates about die p3ce of tbe 


expansion, the age of the uni- 
verse. and its ultimate destiny 
(dissipation? collapse?). They 
have a well-established quan- 
tum theory that explains how 
particles and forces interact on 
the smallest of scales, but 
which has so far been unable 
to account for the force of 
gravity, the great shaper of 
cosmic structure. Haunting 
the entire process is the mys- 
tery of why there’s a universe 
at all: Why is there something 
rather than nothing? 

In the search for answers, 
cosmology has been merging 
with particle physics. To fig- 
ure out the world of tbe very 
large, cosmologists have to 
understand the realm of the 
very small. This creates a 
challenge not only for scient- 
ists but also for tbe average 
lay reader of science books. 
Many of us may feel mentally 
prepared to go on a journey 
across tbe starry expanse 
of the universe but not ne- 


cessarily down into the 
murky interior of the atom. 

Ferris, fortunately, is a 
compassionate and clever 
guide. As one of the premier 
science writers, he knows that 
his job is not to try to impress 
the physicists- Bravely he 
takes the reader into the eso- 
teric realm of dark matter, 
“spacetime foam," and 10- 
dimensional superstrings. His 
description of superstring 
theory is extremely nimble: 

“Strings are just curved 
space. The central riddle of 
genesis — how can the uni- 
verse have come into being, 
if, as Shakespeare put it, 
‘Nothing can be made out of 
nothing’? — is answered 
thus: Everything is nothing, 
in a sense, for all is made of 
space, which in this context 
means pure geometry,” 
Obviously we have left Eu- 
clid far behind. 

One can sense that at times 
even Ferris is uncomfortable 


ACROSS 

i.Spons 
.Illustrated s 
1974 

.Sportsman of 
the Year 
4 Steep 


1ND .Vi) l 


The Finance. 

Merchants Group 


■j, °i»; t 1 


CROSSWORD 


e English poet 
laureate Nahum 

13 TV host who 
does 

‘Headlines' 
is Vietnam s 
capital 


OffchoreCcnwwrral Banks 
Ba-vna*.. T*! <2-12* 394-7080 
fax JOi 3^2062 


1C Roman Eros 
17 Like an 
inveterate 
procrastinator 
ic Put together 
ic-Negnofihe 
silent screen 
ao Start ota 
Jonathan Swift 
quote 

23 Col s Doss 

24 Sheriff Taylor s 
son. in 60 s TV 

25 Tit for tat 9 
20 'The Kiss- 

sculptor 
2 a Half of CXIt 

30 Angeles 

ai Political losers 
32 Select 
30 Part 2 of Ihe 
quote 

40 Mother-of-pearl 
Source 

41 in a on 

43 Mrs. Nixon 

46 J F.K. regular 

47 Ployed Out 

48 Lyric poem 
B0 Largest of 

seven 

53 Bird call 

54 End of ihe 
quote 

53 Surveyor's map 


80 — -djeu 
«i Konrad 
Adenauer Der 

B 2 Orchestra 
section 

63 Architectural 
pier 

54'GemtemBn 
Prefer Blondes' 
author 

M'Haysiacks' 

painter 
to Word part 
AbOf 


i Lively tat of 
music 


2 0mii 

3 Plan on >1 

4 Earfy rocket 
traveler 

5 Veranda 

6 Mindless 

r Drop out. m 
poker 

8 Put away, in a 
way 

0 Tropical animal 
• 10 Without 
scrupfes 

11 Mid-Amencan 
Conference 
team 

12 Rubs out 
14 Poet's ■ 

contraction 

21 Partner for 
hither 

22 Iodine reaction 

27 Mallorca, e.g. 

28 Symbol ot 
cr an ness 

20 Hollywood 
cross street 

32 Rock video 
prizes 

33 Hide 

34 Arafat's org 

3B Skier's aid 

37 -Little Eyolf” 
playwright 

38 Beasts on the 
royal arms of 
Scotland 

39 Wholeness 
42F.D.R. 

accomplish- 

ment 

43 One involved m 
foreign 
exchange 7 
«4 Lover of 
Daphne 
45 Campbells 
. choice 
47 Bill 

49 Times to 

remember 9 

50 "The Age of 
Anxiety' poet 

si Playground 
fixture 
52 Phrase of 
explanation 



PazzWDy RWani Hugtm 

©Ateir York TunesJEdited bv JTiU Shorts. 

w 


Solution to Puzzle of July 1 


ss Contemptible 
person 

50 Chocolate snack 
or Govt watchdog 
group 


Hnaci anan anaas 

hihb 0 anna anann 

HnBCiC30aaaciaaai3Gi 
0O3DQE3 QQdSiacinGI 

□BS13ID00 aaci 

amaaa sanao 
QDHasaaas annaa 
HmBHaBHQgHniiiaaa 
ejhhsq inaaaaBSGi 
bsbq sanaa 

□as aanaana 
□□□snaas □□□□□ 
saaaaaaaQaanaaa 
hobsq aoiaoJ aaaa 
snsao □ogaanaa 


with the abstruse nature of 
modem cosmology, as when 
he writes: “Readers who are 
marking their scorecards will 
want to note that the neut- 
ralino is a linear combination 
of the supersymmetric part- 
ners of the photon, of an 
early -uni verse boson called 
the Z° and of ihe theoretical 
Higgs boson." 

Make no mistake: Cosmo- 
logy remains a field heavily 
shot through with philosoph- 
ical speculation- Ferris in- 
cludes a playful chapter on 
theology, guessing mat God 
would want to create a uni- 
verse that was itself creative, 
using life as a divine agent for 
reversing the dreariness of en- 
tropy , the tendency for heat to 
dissipate and orderly systems 
to fall apart. 

Theology spawned cosmo- 
logy, but as cosmology 
probes ever deeper into the 
mystery of the universe it 
tends to circle back to theo- 
logy. Last year John Horgan, 
a writer for Scientific Amer- 
ican, published a book called 
"The End of Science,” 
which contended that our 
greatest scientific achieve- 
ments (like the theory of evo- 
lution or the discovery of the 
expansion of the universe) are 
behind us, that most future 


discoveries will either be 
trivial or simply irrelevant to 
the world in which we live. 

Ferris would contend oth- 
erwise. 

If there are more great dis- 
coveries to be made, Ferris 
would be someone you ’d want 
around to explain them. He’s 
been inspecting the cosmos 
now for two decades, and he 
seems to have it sussed out 

Simply for entertainment 
value I did not enjoy “The 
Whole Shebang" as much as 
Ferris’s previous effort along 
these lines, “Coming of Age 
in the Milky Way,” pub- 
lished in 1988. The two books 
are similar in scope and tread 
much the same rurf. Bur 
“Coming of Age” was more 
of a historical detective story, 
an account of the human 
race's intellectual journey to 
understand its place in time 
and space. 

“The Whole Shebang” is 
the graduate-level sequel. 
Looking forward to the future 
of cosmology, it poses as 
many questions as it does an- 
swers. These questions are 
brutal, not for the faint of 
heart or tbe incurious of 
mind. 

Joe I Achenbach is on the 
staff of The Washington Post . : 


BEST SELLERS 


New York Times 

This list is biKd on repems from more 
than 2.000 bookstores thfougbooi the 
United States. Weeks m list are not 
necessarily consecutive. 


L-dWttb 

Wwe n wu« 

1 PLUM ISLAND, by 

Nelson DpMiUe 1 4 

2 THE PARTNER, by John 

Grisham — — ... — 2 16 

JTHE PRESIDENTS 
DAUGHTER, by lufc 
Hiuis 7 4 

4 ohT the places 
YOU’LL GO! by Dr. 

Senas 3 159 

SUP ISLAND, by Aane 
Rivers Siddons 5 3 

4 END OF THE DRIVE, by 

Loras L’Amoar It 4 

7 PRETEND YOU DON'T 
SEE HER. by Mary 
Hmgins Clark 4 10 

5 LONDON, by Edward 

Rutherford 6 4 

9 FAT TUESDAY, by 
Sandra Brown — 1 

10 THE TENTH JUSTICE. 

bv Brad Mdcer—. 8 5 

11 SNOW IN AUGUST, by 

FrteHamiH 13 6 

12 MASON ft DIXON, by 

Thomas tyrnchoo 9 7 

13 THE NOTEBOOK, by 

Nicholas Sparks 10 36 

14 LOS ALAMOS. byJosqph 

Kanon 1 

15 SECRECY, by Behra 

Plain,... 1 

NONFICTION 

1 JUST AS I AM. bv Billy 

Graham. 1 3 7 

2 INTO THIN AIR. tar Ion 

Krakauer •_ I 8 


3 INTO THE STORM, by 

Tom Clancy wilh Fred 
Franks Jr — 5 

4 ANGELA'S ASHES, by 

Frink McCoun 2 

5 THE BIBLE CODE, by 

Michael Drwnin 14 

6 BRAIN DROPPINGS, by 

George Carim. - — 9 

7 THE IMLBERT FUTU- 
RE. by Scon Adams. 7 

8 WrrHOUT A DOUBT, by 
Marcia Clark with Teresa 


9 UNDERBOSS, try Pfcfer 

Maaa 8 9 

10 MIDNIGHT IN THE 

GARDEN OT GOOD 
AND EVIL by John 
Berenrti fi 154 

11 TWO GUYS FOUR 
CORNERS, by Don Inus 

and Fred bn us 13 2 

12 CONVERSATIONS 
WITH GOD: Book I. by 

Neale Donald Wateh 10 28 

13 THE MILLIONAIRE 
NEXT DOOR, bv Thomas 
J. Stanley and William D. 

Danko 12 23 

14 THE ONLY WAY I 
KNOW, bv Cal Ripken Jr. 

and Mike hryan 2 

JS THE PERFECT STORM. 

by Sebastian lunger JS 3 

ADVICE. HOW-TO 
AND MISCELLANEOUS 

1 EIGHT WEEKS TO 

OPTIMUM HEALTH, by 
Andrew Weil 2 15 

2 TRAINING A TIGER, by 

Earl Woods with Pete 
McDaniel.... 4 

JXU» AJtE PUNNY. from 
"The Rosie O'Dontrli 

Show" I 10 

4 SIMPLE ABUNDANCE, 
by Sarah Ban BreiUinack 3 64 


business ana economics, os weS as science, teduiotogy, Irnva, hashion, Ihe arts 
□rid sport — - all from an international perspective. 

Take u cLc m kjge d ibis Iknited opportunhy lo fry tKe Intemariond Herald 
Tribune with a tow cost. 2-month trial subscription ana enjoy delivery so your 
home or office every morning. 


COUNTRY /CURRENCY 

2 MONTHS 
NEWSSTAND 
PRICE 

2 MONTHS 
OFFB l 
PRICE 

AUSTRIA 

BELGIUM 

DENMARK 

ATS 

BEF 

DKK 

1.456 

3.360 

780 

650 

1.350 

360 

HNIAFO 

FIM 

6?4 

310 

fftANCE 

FF 

520 

210 

GERMANY’ 

DEM 

1B2 

72 

GREAT BRITAIN 

C 

47 

22 

GREECE 

M 

18.200 

9,100 

IRELAND? 

IRC 

52 

26 

HALT 

m 

145.600 

58,000 

LUXEMBOURG 

LFR 

3.3000 

1,350 

NETHERLANDS 

NlG 

195 

78 

NORWAY 

NOK 

B32 

390 

PORTUGAL 

ESC 

11.' *«a 

5.000 

■SWJN 

PTAS 

11.700 

5,000 

SWEDEN 

SBC 

832 

350 

SWITZERLAND 

CHf 

166 

66 

ELSEWHERE 

s 

— 

SO 


1 &SCCUH1 . 

OH 

COVER PRICE 
551 
60‘S 
54% 

50% 

«0% 

60% 

53% 

50% 

50% • 
60% 

60 %. 

60% 

53% 

58% 

57% 

58% 

60 % 


rcr nomceon corcimrfl ncra n m 

<*0130-64 35 85 or fax (069) 97l?t3l I 


neflinad'oBlrwIHTGeniiony j 


ttt, / would file to start receiving rfw ktternatbnal Herald Tribune 
□ My check is endued Ipcyabla to ihe WT) 

Charge my 0 Amet G Diners D VI5 aG Access D MasterCard □ Eurocord 
Getfa cord dnigM will be trade in French Fikj ai sumrt i<*H 

Card No' — Dale-— 

Signature: 

For business orders, indicate /our VAT Mo- - 

PHT VAJ Number FR747T02 1 1 26) 

Mr/Mra/Ms family Nome: _ , - , — . — 

First Nome ^ Title. — ■ 

Mating Adrift- _ 

Gty/Code:__ ■ — 

Cm*y 

Home Tel No- Business tol No 

E-Mail Address: 

IgoilhaeDpy oftbe IHT Gfr □ kiosk □ hotel □ airline G«her 2-7-07 
D J do not wish to receive information from p4wr mrABy screened ccmpauss 
Moil or fax to. International Herald Tnbury 

181 , 0 m. C dp GouSs 92521 NkuA Cedex fiance. Fox- +33 M I 43 92 10 

OK CAU. +33 141 43 93 61 

In Asses +857 2922 11 88. In Hie US ftofl-frse): 1-800-882-2884 
F-Mad No: subs&htxem 
Offer »alid tor new subsarbers only. HA3M 






if THE INTERMARKET 


^ +44 171 420 0348 










INTERNATIONAL FRANCHISES 


* 


Come and Meet the 


The 

American 

Franchise 

Exhibition 


Long Beach 

Convention Center 

Long Beach, California 
September 12-14, 1997 


World’s Leading Franchisors, 

..in this Quality National and 
International Event! 



Top Tier Exhibitors for International 
Expansion. Including: 

■ Holiday Inn aAFC ■ 7-Eleven 
■Thrifty Car Rental ■ Janl King 
■Subway ■ Golden Corral 

■ TC6Y ■Precision Tune 

Investment Opportunities 
$10,000-$10 million 

Special International Programs 
Available 


www.afexpo.com 


© 



Sponsored by: 

USA TODAY, FRANCORF, FRANDATA, JENKENS & GILCHRIST 
Official Travel Companies: 

AMERICA’ WEST AIRLINES, SOUTHWEST AIRLINES, THRIFTY CAR RENTAL 

For more information or to exhibit phone: (407) 699-1400 
Fax: (407) 695-0963 or e-mail: clliisa@worldfTetatLiiet 


For visitor reservations call toll free in U.S.: 1-888-999-4531 
Outside the U.S. call: (415) 252-1107 or Fax: (415) 252-1483 


BUSINESS OPPS 


[ - Amsterdam (The Netherlands) 1 997 - 1 

PRE-ANNOUNCEMENT 

of a 

HUGE 

LIQUIDATION SALE 

by order of mr. AAM. DETERINK (BANNING, 
IVAN KEMENADE & HOLLAND) at EINDHOVEN;] 
mr. B.F.M. KNUPPE (VAN AN KEN KNOPPEi 
, DAMSTRA) at ROTTERDAM; mr. A.L LEUFT1NK | 
(VAN BENTHEM & KEULEN) at UTRECHT and 
mr. Graaf R J. SCHIMMELPENNINCK (BOEKEL | 
DE NEREE) at AMSTERDAM, 

TRUSTEES in the BANKRUPTCIES of 



NV Kon. Nederlandse 
VHegtuigenfabriek Fokker 
Fokker Administration B.V. 
Fokker Aircraft B.V. 

3 LOCATIONS (all In The Netherlands) 


FOR SALE BY PRIVATE TREATY : 


' 5 "FOKKER" prototype aircrafts, types F27, Fo 50, 
Fo 70 and Fo 100, equipped with flightiest equip- 
ment; complete production lines, for Fo 50, Fo 70 
and Fo 100 aircrafts; ground testing equipment; 

! flight test control stations; fire equipment; 
aircraft towing vehicles; tanktrailers; engine 
run-up station; surface treatment plant; 18 
| travelling (aircraft) telescopic spraying platforms; 
cnc skin polishing robot, 4 heads (1990); aircraft | 
| weighing equipment; jacking equipment, 5-25 1; 
hydr. testing equipment; mobile pressurisation 
and blower units; tow bars; 150 aircraft stairs; 
mobile platforms and sky workers; flight simu- 
lator "Mc.D.D.”; mock-ups; 

HUGE AUTOM. STORAGE AND ORDER PICKING 
SYSTEMS; PATERNOSTER SYSTEMS; CAS- 
SETTE WAREHOUSE STORING SYSTEMS. 

FOR FURTHER INFORMATION 

concerning the private treaty sale, 
please contact on site 

Ned ER lands Taxatie- en Adviesbureau B.V. 

Mr. H. Breuker 
+31 - (0)20 - 60 52 258 
fax: +31. - (0)20 - 60 52 220 


FOR SALE BY AUCTION 


Universal cnc metalworking machinery: boring, 
milling, turning, drilling and riveting machines; 

' woodworking machines; 20 fork-lift trucks, up i 
to 4 ton; furnaces; welding equipment; portable 
office units; portable cabins; complete laboratory 
equipment, with electronic microscopes, tensile 
strength testers; audio and video equipment; 
overhead travelling cranes, etc.. 

FOR FURTHER INFORMATION 

concerning the auction sale, please contact 


TROOSTWIJK 


TROOSTWIJK VEILINGEN B.V. 

specialist valuers & auctioneers, 
machinery, international real estate 

Anderlachtlaan 181, 1066 HM AMSTERDAM 
The Netherlands 

® +31 - (0)20 - 66 66 666 

fax: +31 - (0)20 - 66 66 663 



Protect Your Personal Assets 
1 •"corporate m any state inducing 
Delaware. Nevada & Wyoming 

■ Li.C s I Limited Uatxfaty Companasl 

■ m m late as <8 hows 

Corporate Agents. Inc. 

Fai 1302) 998*7079 
CompuServe. GO INC 
hnp i www corporate com 


302-998-0598 


LIECHTENSTEIN & WORLDWIDE* 
OFFSHORE COMPANIES • 
•C0MR4NY FORMATION ■ FBOt MADE * 
•AWWG048V7 AND AOOOLNTANBf* 
•NTEPMtCm. TfX.LEGM.Am TRUST * 
SERVICES *aWK INTRODUCTIONS * 
ASSET PROTECTION •TRAOESUPPQRT • 
TELBWtff AND AMI flMHMfiQWG* 
Free Brochure avaltafafa m English * 
fiamai ana Hussar • 

Intercompany * 

Manage meal # 

PA Bex 4431 • 

6304 ZUG - Swltzarlantl _ 
Fax f Ml. 41 -71060 M 
frfltal lc®tnCBnsa*psny,cti • 

ltaps.'ft —w Jw M i en mp ii iyjai* 



JUST PUBLISHED 

International Herald Tribune’s 
International Franchise Guide 
HYTERNATTONAL MASTER FRANCHISE 
& AREA DE\TXOPMEjVT OFPORTTjIWIIES 

The definitive guide devoted solely la international franchising. 
Detailed, up-to-date profiles on the world's leading international 
franchisors. 176 pages. US$34.95 (includes Supping) 

Send to 1HT Guide. P.Q. Box 1248a Oakland C\ 94*04. %h. Money Older. Visa 
or M/C (send Acct #, Expr. Dale A Approval Ssnarure). 

Tel: (510) 839-547 for Fax: (510) 547^245 


E-Mail: sourcebook@eaitUink.net WebsitewvvwJranchiseimLcom 

Hfnil b^afcj fcribiing 





TELECOMMUNICATIONS 

LOiil IHTL PHONE RAlHsl 

Savings Up To 79% • No Signup or Monthly Fees 
Any Phone, Fax or Cellular * Call for All Our Mew Rates 
24 Hr. Personal Service ■ No Confusing Bills 

Check Out Our Rates To U.SA From: 


France ,32$ 

Germany .33$ 

Switzerland M 

UK .25$ 

Hong Kong .44$ 

Italy 45$ 

Netherlands .39$ 

Japan 1 .37$ 

Canada ....25$ 

Spain 20$ 

Belgium .55$ 

Austria 50$ 

Visit our Web Site 
HTTP:// lYPN.com/ICallMart 

476Hwy.AU, 

SateHte Bead) FL329SZ USA 
&tna5: 7B7S.1743§cciqHHejyejoiii 


Singapore -34$ 

Philippines 76$ 

Indonesia $123 

Thailand JO. 02 

Taiwan 66$ 


mz 



PMICE - QUALITY - SERVICE 


Tel: 1-407-777-4222 

Fox: 1-407-777-4411 LimOpuHHn. 


2£i CooisiBsin! Ajests Menri 

EiitoExL112(Winstoaitiynes}whenycHcaB 


BUSINESS OPPS 


NeWorld 3000 

Europe's biggest mobile flight simulator (30 seats by Right 
Avionics/Ferretti) will be available from October. The 
machine is rented out to the Oceonographic Museum in 
Monaco until that time. The simulator plus trailor will be 
offered for sale, but we can also offer the simulator as main 
machine and the trailor separately. Furthermore there will 
be an opportunity to rent (e.g. to showmen or supermarket 
chains for marketing purposes, for trade fairs and for insti- 
tutional shows, e.g. military, etc.) 

A serious and experienced operator is also welcome as a 
joint-venture partner. 

Please contact Virtual Entertainments AG, Dr. Kreuzhof, 
Td/. +43-6232-50 46 or Fax: +43-6232-50 47 


Save 85% On 
International Calls 
With The Original! 

kallback 


• AT&T Fiber Optic Networks 

• 24-Hour Customer 
Service 

•mJ/FCC Approved 

• Itemized 6 Second Billing 

• Ideal for Home, Office, 
Hotels and Cell Phones 


"Callers gat dependable, 
high-quality service" 


International HsrafcJ THbunal 



Ao an tflte sa flur Inqulrtea WbIcotm 
C aR Herb st 1-206-216-2288 


Tel: 1206.599.1991 • Fax: 1206.599.1981 

417 Second Avenue Wnt * Seattle, WA 9811 B USA 
wnww taiHtMiffte.com • Email: Inf a Okanbeck.com 


SERVICED OFFICES 
DIRECTORY 


Swiss company sells international patents for 


Single 70mm dual lens camera and projection system. 
180“ projection on dome-type, spherical screen for 



Pay back period of typical Installations: 6 ■ 9 months 


ZWAHLEN M&A Zurich. +-+41-1 -383-1073 CTell Of 362-0430 (Fax) 


ACTIVE 


RECYCLING AND 
REFUSE DISPOSAL 
COMPANY seeks investors 
and/or partners for the first 
eight plants in Spain on the 
Costa Blanca between 
Valencia and Alicante. 
Possibility of a seat on ihe 
supervisory board. 
Interested parties are invited 
to contact the Swiss man- 
agement office: 
BASURA-RECICLAJE 
ESPANA S.A.. 

World Trade Center. 
CH-6982 LUGANO/AGNO 
Fax +41 91 610 29 73 



...than 

AiMrtu'i laacflng product 
N opment company is Interested 

INTERNATIONAL PRODUCT DESIGN! 
1 Hatley Strait, London WIN IDA 


+44 (0)171 *436 •1127 


For Sale: 

Casino concession 
in the Caribbean. 

For more information: 
R.P. Consultants 
Rue + 31 (0) 20 6330394 in 
The Netherlands 


EMPIRE STATE BUNDING 
ADDRESS 

Gain Instant credibility. 
Estabftad a NY prsmcain 
the worWa best -known 
buH 


room, fumtohed mlni-offtcea. 
BUM STATE OfFKEtBIViCa 
1B:2tHM072« FAt21WH-T05 


IBC SEEKS ACTIVE PARTNERS 

for creation of highly 
profltebfe projects, 
opening IBC canters in 
USA, ASIA AFRICA & EUROPE 
All new concepts & 
exceptional products. 

Tat: PARIS *33 (0)1 4105 0706 
Fax: PARIS *33 (0)1 47 58 55 17 


OFFSHORE BANK 


with correspondent relationship. 

Class A commercial license, 
immediate delivery. IB $60,000. 

Nassau, Bahamas 
T el (.342) 394-7060 Rk (242) 394-7082 
Agents Wanted Wobldtode 


Discount perfumes 

is our business 
Original French Products 
100 ml luxury bottles only DM 5,95 

We are looking for 
distributors worldwide 
Entrup & Co., D-59379 Seim 
Fax: +49-2592-97 97 31 
Tsl: +49-2592-97 97 30 



Your Top-Class Office 

Berlin ■ Dresden • DQsselc'orf • Frankfurt • Hamdunj 
Hanover • Cologne • Munch • Nuremberg Stuttgart 
Budapest - Luxemcurg ■ Prague - Los Angeles - New York 

Furnished office spaces available immediately 
Business address - Modem technology 
A strong secretarial team at your disposal 


Pedus Office - f. Dussmarm GmbH & Co. KG ' i ’ ' 
brEunopa and Europe-Center 13. OG - 0-10788 BerSn 
USA TeL +4930/25403-0. Fax 25493-299 



Serviced Offices 


YOUR OFFICE IN PANS 

b ready wlm you nead ft, 
even lor a couple of ixus. 

* Rijr functional modem offices 
and coherence rooms to rert by 9 b 
hour, day, month et__ 

' Your tactical or permaners base 
■ Prestige rosing address Al semes 
QBE "** 

91, Fg St-Honore 75008 Paris 
Tel +33 10)144713636. Fax(0)1 42661560 


YOUR OFFICE IN DUE5SELD0RF. 
PtBfligious address, muWtngual stall. 
Plaasa tax +49 - 2il - 470 75 55 


TAX FREE HA VBI 
in Ihe hean of Nassau 
Prestigous Office Space AvafeHe 
Secretartai Sendees. Private Phone 
& Fax. Conference Roam 
FuHPan-Tme Office Rente 
Ter 1-342-35MW4 Fax; 1-24Z-326-3555 


l-H.T. SERVICED OFFICES 
DIRECTORY EUROPE 
Is pubBshed first 
Wednesday of each month 
KEEP YOUR COPY FOR 
FUTURE NEEDS l 


FINANCIAL 

SERVICES 


IP 



AML ■ 

The Mark of Sendee 

ATELE1A 

MANAGEMENT LTD 

(International 
Corporate & Trust) 
Contact 

Tony Could / Alain Albert 
Tel/Fax; 

+ (Q) 1 624 616007/6(6006 

EfnaiLaiddai^entapnse.nei 


MESSEIVCER 
SERVICE COMPAIVY 

For ‘wkkVKWLCUi 

OcU Uaidmin UnflH - HUten Evt 3T« 

Etivllrnl Lmm- - limp t<*rai 

ami Cnqmnilp .Vriiiiiil* imH pniwinj: 

| < mv < iuldrn Op|mrl nmij 

WL (Ilf) MS-7348 - fiu. (312) 13S-fiS2S 



ARE YOU LOOKING FOR 
PROSPEROUS BUSINESS IN 
EASTERN & CENTRAL EUROPE? 

Prague-based professionals offer 
Mortal research, investment advisory. 
communeaDons and public relalnns. 
transtabofis. etc. 

Tol / Far ++420 2377778 
E-mait JmajorG bbsJnrimaxz 

J 


imam 


WORLD TRENDS: 


If you want ibe '■erv Lw Insider 
L'omennunal init-lligcnce. 
Contact: 

THE SPECIAL OFFICE 
UK Fjcc: 01608 650 540 

Sn propj^undj iK- diarpv- 

but >t-u »i'utd team ihc fitcu 

50 Room Mansion on a 6000 
m2 perr+i of land, large indoor 
pod, Sauna, Steambath, 1 
caretaker house. Prime and 
very quite, secluded location 
in the Austrian Alps (TOO km 
from Salzburg, 60 km from 
Italian boarder). 

Most ideal tor private organi- 
sations as training or head- 
quarters or to. be used as 
hotel.To airport 45 minutes. 
To Goff course 5 minutes. 

USS 4 mio. 

PIS call +-+-43-663-84 1291 . 


We seli the following brands 
of writing instruments; 
Cartier, Mont Blanc, Pfilikan, 
Waterman, Parker, Ysl, Caran 
D’Ache, DuFbrrt and many others. 
International supplies: 

Fax: + 31 (0) 20 6330394 in 
The Netherlands 



COMMERCIAL & INVESTMENT m 

properties HnU 


REAL ESTATE COMPANY 

FOR SALE IN AUSTRIA 

Proparty *th cartral location n Varna, 
mechanical mkshop in operation 
empty office spa* 

* Cfflifenaote annuar lease hoome 

* Potential renal income 

* Mafer devatapmert potertlet 

(RedberaalrcommenitofficBs) 

Box 311 IH.T. 92521 NEUUY CEDBt 

totes 

SWISS ALPS, WST0RJCAL BULGING 
FACING MATTERHORN. Exceptionally 
sumv heastiy cfonaie. ste resort. suMaUe 
tor tat*!, heath canter, apanmert house. 
Six stories. 2,700 sqm. 55 rooms, 3 
apartments 0 restaurams, 2 bars, bou- 
tique) ut private oart with Angh^n 
church. VERY INTERESTING PRICE 
Teffex +41 22 7333311 

PAHS MADELBNE / OPERA. 60 sqm 
* high class otto. 3 rooms + parking, Tst- 
+38 (0)1 4326 4069, answalng nafena 


READERS ARE ADVISED 

that tha International 
Herald Tribune cannot be 
held responsible for loss or 
damages incurred as a 
result of trcnsactkms stem- 
ming ham advertisements 
which appear in our 
paper. It is therefore rec- 
ommended that readers 
make appropriate inquir- 
ies before sending any 
money or entering into 
any binding commitments. 


Import/Export 


NOAMEXINC. 

LARGE GRADER OF USED CLOTHING 
For women ■ men ■ dfttai 
PREMIUM & DOMESTIC QUALITY 
DEMM JEANS 8 DENIM JACKETS 
Export big bales, smaJ bales, boxes. 
AFRICA. ASA, BJROPE, UD-EAST. 

CENTRAL 4 SOUTH AMERICA. 
Tefc7l8-342-2278 Fta:7l B-342-2K8 US 


BUYING OUTLET FOR THE LARGEST 
Trading Companies Branded 8 Luxury 
goods. Fiagiancestawiwtfcs. watches, 
pens. dfeawre. crystal, hardags. 
octal tames, sunglasses, line cigars. 
Gum. Tag Heuer. Cater, Wedgewood. 
Srarawta, Kerend. Fenagamo, Praia, 
Henres. eta Please caMa* TRADING 
DESK Trt USA +1-212-807-0973 Fax; 
USA +1'212-B07-9O58. All calls treated 
«Wi utmost confidence. 


WE ARE DEALMG H 

COMMODITIES 

LONDON FAX +44 <0>1B1 39J 2125 
PARIS FAX *33 (Q|1 $4 84 59 24 


S USA WTL TRADE CENTER 5 
vintage & new store returns. Levfg 
SGOO. Tops 2 Ts Russel. Adidas, etc. 
$125: Carman tenrets $70 used clothes 
$40 b. recycled pbaics 8 doffias $15 
b Tte: 90B-355-2000; Fate 3554004 US 


METALLURGICAL COKE from China 
andfor am after offted tor CNna 
LOffflON FAX +44 (01181 392 2125 
PARS FAX +33 (0)1 64 94 59 24 


FRENCH WINES: Quality French wme& 
on offer at outstarvJng prices iBrand 


redfwNe from si isriwafe, SparLlmos 
from Si 50) in 2a it. contaner fir 
quotes- PTM Fiance +33 ( 0 ) 1 4640 0693 


GENERIC CIGARETTES, American 
btend lobacm io»«i pnees, private 
labeAng available FAX USA t 19541 
47+3366 


Save up to 80 % 

O NALL 

International Calls 


FREE; 


■ Remote Programmabte Service, Speed Diana* 
.. and Personarged Voice Prompt* * • 3 

lv * 

24 hooo/dw 7 tiays/week ■ Perfect for Home, Office, Hdrf, F^ wC ebtrPbww 

■arnmiltttF »*wg«rEST OmE UJJ 


1Q SWirZHOANDS0^9 

FRANCE S0.30 rTALY $0.38 

GERMANY -$0^4 EGYPT $108 


ATTN: . ■* 

CALLBACK Jg 
AGENTS! 

CONTACT JEAWE 

AT a6i^2^438s; 


CaB Nancy at 44.171^60.5037 Fax: 44.1713605036 

e+naiL tribone 3 ft»wworidt»l«.ciwi bttp^/www. no wworidte) e. com 


ForqM* nfb+m nmSoo tta writer 
cm on ai omefc »-o»oin oe m wmswo 


<m ISlaMMeRLD 


• > » 11 r c *ji 


CAPITAL WANTED 



one year fully bank secured 
highest interest paid 


WOKQBVBRAr Udn <nffa d quaftj 
bigtHmOt ffngsriB & fashion underwear 
tor rtematcrat mariuts. Fax Mr. Jofflffii 
JLC.L CorpL (New Ybrftj 212-541-5832 


CUBAN CIGARS N STOCK. LONDON? 
FINEST CIGAR MERCHANTS. Tel 44 
(0)171 3292242 Fax 44 (^171 9292232 


DOMINICAN CIGARS, 9 styles, hand 
rolled, volume purchases only. 
Tdefex: UBA+954-474-3866 


LEVI SOT'S. Used and New. Quafity 
jeens direct hum toe USA. Honest and 
Rabat* Fate 5036280749 USA 


SMALL AfflfS AMMUWnOfMOJTARY 
and supples, lowest prices, 
! only; FAX USA +85+47+3866 


emapmert 
voube m* 


USED LEVI SOI JEANS - Al colors & 
! 1st FAX; 801-561-3848 


wades. For price 1st FA 
USA. RECYCLEWEAR 


Business Opportunities 


OFFSHORE BANKS 
COMPANIES & TRUSTS 
IMMiGRATlON/PASSPORTS 



Aston Corporate Trustees 

19 Peel Road, Douglas, tete of Mar 
Tub +44 (D) 1624 63591 
Fax: +44 {(Q 1624 625126 

London 

Tet +44 im 171 233 1302 
Fax: *44 (u) 171 233 1519 

E Mail; astonMenterprisanet 


PRIVATE PLACEMENTS 

■ Security company can provide private 
placements and ctedl fa cfl Idea for 
qualified companies. Participate h our 
wridvride growth u a repneentathre 
h your ana. Attractive fee structure. 
C ait: 

FBTST DUTCH SECURTTES 
Tel 1-242-322-5000 Fat 1-242-3225051 


OFFSHORE BANK 
FOR SALE 
(ncopnated & Licensed 1996. No KabK- 
Ses. eralert name, w&fahed ratehn- 
sfups. up-to-date. Ready tor immediate 
acqustoon US S30K Fa further info, 
please contact Gary A. Ferraro. Tel. 
(561)391-4308 Fax (561) 447-8244 USA 


YOUR OWN COMPANY IN 
SWITZERLAND 
ZURfCH-ZUGlUZERN 

CONRDESA 

Baarerstrasse 36. CH6300 ZUG 
T1 *41 41 711 3288 Fk +41 41 7101049 


High level LADIES & GENTLEMEN 
wanted wridwide 

Freelance AgratsiRepra&antativu 

CD-C, POB 224, CH5056 Zuncti 
Fat +41 1 37) 71 08 
e-mail 101613 fleompuserveinm 


U. S. CORF SSX5 one regional irtynn- 
er I dfertxan tor Southern Evqpe and 
®te to Nottoen Euupe, to develop ac- 
couras nth ma^or dspanmem stares al- 
ready contacted by vb Capital nt mW- 
mrin USS 50,000 is needed, but profits 
very substantial. For mtormaton pteass 
far +31 70 355 4967 NL 


SWISS KNOW HOW COMPANY seeks 
agents wntama More than 30 market- 
ing opportunities (Health & Beaury / 
Household 8 Car Applances) avadabte 
For appfcain corttad: liser Proma AG 
FL-9490 Varke. Tet 0041-75-232 7i?L 
Fax 0041-75-233 1667, Met Miw- 


AVOID TAX. LIVE OFFSHORE. Use Off- 
Shore companies and trusts. Have your 
maB sent offshore ■ confidentially The 
Offshore Cozen Newsfajer less a al 6 
Hmes yearly. Tef +44 7481 6637 Fa* 
86398. Email oWteoftM.com Web site 
WINmah Ama 

WTBOOUCERS with contads to South 
Amerca, Africa, India. Patostan aw 
tKtem Europe we «n pwvme torergn 
wjange. futures aid options produce 
fffj rmneraun an cuuong baas pos- 
slfe. WFfflc 44 171 & ^ 


2nd PASSPORTS I Driving Licencto I 
Dflflrefli/CamoiilaM Passporta'Secr« 
BaA Ac-aunts. GM, PO 
Alhervs i6?io. Greece Fax 8962152 
fqw^Wtw.globaMriMiey ccm 

^SOCmpF FINANCED 

™«Ung tor fi+time »ofes9onate wtth 
P^iafe tor tondreg or Lrrinq tv 

Report. 

/U4-252-5907 Far 70+251-5061 USA 

APPROXIMATELY 1000 fexfcsJ Boota“ 
|lBes Ofem PuMcatxxvs, Re- 
« +£' Kt) ' 000 Bagato 


UPhbHUHt COMPANIES, fir bro-‘ 
chure w atnee Tel London 44 ifli 7*1 
74B 6554,6338 

Fa UK' 44 (0)1634 66l*e 


UNIQUE opportunitv nett to -Casino d 
Monte Cano. PresSgtous astattstenera 
Bar. restates nt. fuz ctob. (fisra " 
goodwfl 377-607933177 « 377-5 


Franchising 


NATIONAL FRANCHISE Coitsuttanta 
seeks Wl. afffeates lor expansion of 
ending & mfiaWe tranctee 1 
business, tufts 
territory provided. L'SA 
Canada 905-83-6404 



Business Services 


GENEVA 

SWITZERLAND 

: Full Service 
is our 


* International law and taxes 

* Mafcox. teepfuna. letex and 
(deoopfor sendees 

' Trsndafiofl and secreteial services — 

* kj ma Un . doniciatDn and 'm 
admrtstratw of Suss and foreign ” 


! offices and cnnferace 
rooms tar daly or morthiy rental 

Fii confilence md rfeoaijn assured* 

BUSINESS ADVISORY V 
SERVICES SA 

7 flue Muzy, 1207 GENEVA 
Tel 736 05 40, Ik 413222. Fax 788 064^ 


r 

YOUR OFFICE N SWITZERLAND. ; 4 
We offer intfividu^ telephone answemg- 
and secretanai service, represerdatto 
and corporate (trade ‘ 

City Telephone & Office Sendee) Ltdr 
BahniuBbasse 44. 7002 Chur/Susse k 
Teteptoie +41 81 255 3333 T 
Telefax; +41 81 252 3340 r 


YOUR PERSONAL ASSISTANT, fust, 
class lady, excoitefl! cutue. 6 tan^Bg- 
os. also far travel. Fax Geneva 4V 
227736 3074. - 


PASSPORTS, NO REPORTS I 
ittxtiMft acceptance 

Otift ddvery. 

Phone. Fax- 66 2 862 21 37 


A BRIDGE TO CHINA: Consulting. Bush 
rwss Development and Strategy Intrth 
ductiorts Please fa* anerhon FDG- 
(852) 2545 0550 - 


YOUR OFFICE M DUBUN Serviced Of' 
flees, Mail, Phone & Fax OKshoie Co. 
Formal rons Pmsngous Address. Tet 
+353 |1) 475 IBSTPax: [lj 475 1889 . 


MAILING LISTS by Berger S Company 
European Business arid consumer data 
Tfll. 44 1312262996 Fax 44 13122830T. 


SECOND PASSPORT. Free Into eraB:'- 
RASSPOflTS6INFGFFiEE.COM 
FAX: -*322.225 0525 


YOUR OFFICE IN LONDON j 

Bond Street ■ Mai. Pnora. Fax. TeteL 
Tef 44 171 290 9000 Fax 171 499 7517r 


Consultants 


CEO. PRESIDENT INTL MAJOR 
C<»poraiiors Muffhngual t 30 years 
Mles/cSstntwtion expenence woriamde. 
Looking for consultancy Fax: H 
1 -305- 532-2527 USA. 


Banking 


COMMERCIAL INTL BANKING LTD 

CREDIT 

WF0: FAX +30 1 32 43 527 


MAJOR BANK ISSUES CREDIT taclfcv . 
[7Cs SBL'Cs & Blocked Funds Far -- a 
Lmtton 0171+950838 Phone 4932934 j 


Financial Services 


WORLD WIDE FINANCING 

‘Commercial 
’Venture 
■Stock Loms 
‘Project Funding 
‘Letftni of Credit 
■Accounts Rentable Financing 
■Private Placement 
■Public Sheds 

Tel: (212) 7584242 ' J 

Fax: (212) 758-1221 '1 

Bretarj Weteora ' \\ 

375 Pair Aw., NY, NY 10152 USA ■'.( 
^jofiMjameyfiDRi - / 
Refundable Reader 
Sometimes Requtad- 


4M 


RNANCIAL GUARANTEES 

* n sjrance t Ransuance bated 
SW'aneestorixtetel' •• ■■-<-=€ 
buaness pxetaos. . " . 

Tel 561-998-3222 ■ 

Fax: 561-898-3226 USA. 

rorthcofpe«ortJn&E&Kt 


U S. DOLLARS AVAILABLE 


", loara'Bri^ Loa% ' V ' ^ 
(mfwt 'Export Hnixang -. ‘ - 

S2M-550M Funds Quanrteed ■' 

^ Top Firanoa tnsttiMons 
















































INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2,1997 




J & THE INTERMARKET 


■S 6 +44 171 420 0348 


BUSINESS OPPORTUNITIES 


v Business Travel 

'* In/Biufaro Oats Frequent Trawfen 
WditaaOte. Up to S0°4 of. no coupons, 
no resnctkra. imperial Canada Tel. 
1-514-341-7227 Far 141*341-7996 
•' e-mad address: imperial 9 logln.rtffl 
* Wp^mJogirctfiBperial 


Capital Wanted 


LOAN OF USS1D0 MILLION named 
aamst puma bank guaranty tor ONE 
YEAR ro set-up teat power pan in 
. INDIA TeJFax *33 10)4 50 51 23 27 er 
<*681718 754 


I Capital Available 


CHRISTOS A CO. 


International Funding Experts 

- CoiMerafiGuaantee Programs 
- Real Estate Prefects 
■ Lasure Pmjeos 
- Aiaafl.'Srujpng 

BROKERS COMPENSATED 
No tees untd contract signing 
Tel: 602-468-9715 
Fax: 602-468-9663 


UNIMTED CAPITAL, 

FOR PROJECTS 
H APPROVED CQUJTTRES 
Firing of Sank Gioains and 
Other financial Instruments 
lie d Credit w MarteWto Secures 
Mta. S10 MUton USD, No Max. 

ALSO. ASK ABOUT THE 
SGNUCANT CONTRACTED 
RETURNS AVALABLE 
FOR PARTWATBM M SLC POOL 
Min. SG Mflton USD. No Mu 

International FmXng Servtow, he, 
1-904-28(M948 Fax 1-90*280447 
INarmw.IS.0l9 
E-ttd hfring®ls.org 


CAPITAL C0RP. 

M&A 

Corporate financing 
VenturB Cartel 
(WnrtoaUal 

Tel: 001-407-24M38) 
Fax: 001-407-245-0037 USA 


GLOBAL PROJECT FUNDING 
VamfflE CAPTTAL-JOHT VENTURES 
-PROJECT FUiANCNG 


ANGLO AMVRIMN GROUP. 

- PLC 

PROJECT flNANCE 
VB4TURE CAPITAL 
GLOBAL COVERAGE 
NO MAXIMUM 

brokbis welcome 

For Conmae Bocnure and 
(tomtiun pack 
Tel +4J 1924 201 JQ5 
Fa* *44 1824 201 377 
You are welcome to via us. 


CAPITAL FUNDING AVAILABLE 
Unmum SiM USD. Charges no retina 
lees, merest ft uo Contact Ms 
Karin Fas 60442*1470 Canada 


GENERAL 


Tel: +44 113 2727 550 
Fax: +44 113 2727 SE0 
Fees are rex requested tmn 
an offered furring berg made. 


HREV0CA8LE BANK 
RESPONSIBLE FUNDHG 
AGAINST SUITABLE GUARANTEE 
MtNMJM USSmOQWMJ 
TYPICAL COST 5^ 

LESS ON LARGER AMOUNTS 
NO RISK DELIVERY 
FOR MEETING FAX 
+44 (0)171 47D 7205 


COUMERCIAUBUSINESS FINANCE 
avaltatde tor any vafiie prefects worid- 
wde Fax brief synopsis m Enalsh to 
Corporate Advances. (+)44-l2JW2130Q. 


VENTURE CAPITAL AVAILABLE. Kere 
Warteffi. Hinoresfcg 4. 42242 Htings 
Bado. Sweden 


HcralbSSribunc 

THE WORLD’S miD XKU SKSPER 

PLANNING TO RUN 
A CLASSIFIED AD? 


appear within 48 hours 


d once payment is made your ad wilt 
All motor ^ Credit Cards Accepted. 


FRANCE WCfcPora. 

T«l: (01)41435385. 

Fok tOIMl 43P37U 
E+naJ OauAedQJri com 
GBIMANY. AUSTRIA & CENTRAL EURCXf: . 
Frankfurt 

Td [QOTO71250Q 
Fn.. (06^)^7125020 
BBOUM* LUXEMBOURG Bnmdk 
Td (03344-3505.(02)3440117 
Far (02) 346-0353 
GREECE & CYfflUS: Alhon. 

Td 301/68 51535 
Fare 301/68 53357 
FMAND: HaMo. 

Td 358 9 606 828 
Fan 358 9 646500 

ITALY: Milano. 

Id. 5B31 5730 
for 583 20930 
NEfflBtLAND&Amgdom 
fd 31 306841000 
Far 31 336801374 
NORWAY & SWEDEN & DB4MARK: 

rd^wt^TaoTO 

F». (47) 55 91 3072 

PORJUGALrliifcon. 

Td 35M -457-7293 
Fat 351-1 457 7352 

SPAN: Madid. 

Td 4572856 
Fat 4586*374 

SWTZBMWJ^,.,, 

Td (*321| 728 30 21 
Fa- 1021)728 30 91 


EUROPE . 

UMIBKMGDOttlisndan. 

Td PI 7! J8364802 
far (017112400338. 

Tk 262009 

UNTTH) STATES 

NEWYOM: „ 

Id 012175^0 

LATIN AMERICA 

Far (591 -3) 53 99 90 
BRAZL-Soo Paula. 

Td 853 4131 
Far B52 8485 

fat 632 01 26 

MIDDLE EAST 

UNTGO ARAB EMKAIES: ShanoA. 
W (06(351 133 
fat. (0613748888 
Ik <SS4T8NGIF 

ASIA/P AC1HC 

HONGKONG: 

Id (853 2922-1108 
Ik 61170 IHTHX 
F®. (853 2922 1IW 
SNGAPOM: 

Td 22 J 6478 
rat 325*3842 
Ik 28749 HTSW 


PROJECT FINANCING 

Verture Cadti - Joint Ventures - 
No Uaxkiun ■ Brakes PitMMd. 

RJJ. international 
T el: 001-242-363-1649 
Fax: 001-716-7794200 


FUNDS AVALABLE 
For Investment Program 
Pmd d Ftr* AvaWfe 
TTrart Aoort Hotels a 
Sevan U S. X European Banks 
(212) 75*4242 Ftx: (212) 75* 1221 
Bvm.W 1 vtem 0 y.cam 
Ananiev's s Brakara Imtfed 
375 Part Avs, NY, NY 10152 USA 


COMMERCIAL FUNDMG AVAILABLE 

Busrass flaw ' Vamre Capital 
VtaVWde * Bates wtora 


ETHC INVESTHBITS LTD 
‘ FAX +44 (01115 942 7846 


"IMMEDIATE & UttJKTED " 
CagUavtiade far 
ALL busineto preface 1 
MIN US. SI imJno max. 
inTI Business Coreuttig 
Pin 397-7490 (U.S. FAX) 
htto /vrmJntouscon com internet] 


COMMERCIAL INTI BANKWG 

LOAN 

AGAINST GUARANTY 
FAX +30 1 32 43 5Z7 


Newly AvattaUe to 3rd. Quarter 
PROJECT CAPITAL & LOAN FUNDS 
Mh. USD 2M. Fax hi summary to toe 
Fund Managers £ Investment Bankers. 
CCCFAX. +1-0OM8S-7OK 


Diamonds 


ROUGH DIAMONDS. We wfl pay instant 
cash tar gem quaBy. Abtan origin, 
vdunv arty. Fas 964 474-3866 USA 


(Med States District Court 
EASTERN DISTRICT OF NEW YORK 
SUMMONS IN A CIVIL ACTION 
C V 96-2502 STATEN ISLAND SAVINGS 
BANK ». KEYSTONE TRADING CORP 
a/Wa KEYSTONE TRADWG, WC, 
REUVEFfS KOSHERLAND, INC. art/ a 
KOSFCFUTO. NC„ M08HE 
ROSEN FELD. MOSHE PRAGER. 
CHAYA PRAGER and SAMUEL 
WAGER, TD Moshe Roserfetd 1445 
EOth Sheet Brooklyn. New York 11219 
YOU ARE HEREBY SUMMONED and 
reputed to lie with the Cleric of this 
Court and serve upon PIANT1FFS 
ATTORNEY THE IAW FIRM OFHAULS 
HALL, 57 BEACH STREET. STATEN 
ISLAM). NEW YORK 10304 an answer 
10 B» oontokwi which fe herewith sarwd 
ifeor you, wtowi 80 days a#ar swee of 
iris aunmors ipon you aakrive <4 ihe 
day of servtB. If you tad la do soJ«Jg~ 
men by delate «i t» tttto aplrsi you 
tor toe raiiet demanded h the comptoiit 
ROBERT C. HEINE MANN CLERK 
ISgaed BY DEPUTY CLERK 

a 20. 1996. R» acton -s basal on 
and State law aleging, ewaha. 
trautWenUy induemg the (XT 
caste’s checks d 5400,000.00. 


Legal Services 


1LS. BHDGRAT10H: Fax you questons 
to expert Vlfestornton D C. Attorney Ut 
F. Saupdo. (MIT & Georgetown Law| 
wth 15 yis.+ eqjenence. (312)8884)560 


MVORCE 1-DAY CERTFED 
Cal or Fax (714) 968-K95 WrSe 16787 
Beach BM a 137. Hutfngton Beach. CA 
92648 USA- e-mal - waormGjimurm 


GENERAL 


DIVORCE IN 1 DAY, No travel Wrtfe 
Box 377. Sudbury. MA 01776 USA. Tel: 
506/4434387. Fax 50B/44341B3. 


Friendships 


WORLDLY INDUSTRIAUST 

Young 66 1 174. smoker, angle, aktiy 
1 raveled, now pan tow aura, tped 
looks, marly, elegant original timer 
trih geniim presetca and charm, king 
11 tow on Goto Om* seeks smart aid 
unatotoed mtt^aL auraettw lady 
ot m&i. 35-50. as a 1 revel companion 
i pfflan&J He conparwn Sveta, sty Bah. 
ferwvte, 160-170. reSattfl «Oi 
pereotiBy, ftarary. compiiffl A dwtog 
efek a pka, to stare Res boirty. 
sodalzhg, art. saNng, haute ettoine. 
rnling and more. Writs openly, dscreton 
assured (Recant picture M(py). 

Bat 313. HT. 92521 NeuNy Odx. Fiance 


Arnouncemerts 


BAREME AS 24 

. AU 2 JULLET 1997 
Prh Hois TVA en dsvisa tocafe 
lhaduaan cfeponUe sa daman de) 
Ranplace las baremes anredeure 

FRANCE (are C) en FFA - TVA 200% 
GO 3.68 FOD *: 221 

SC97. 524 SCSP: 5.15 

UK an /1 -TVA 17,5% (toil ffH) 

GO 05359 FOO*: 03476 

ALLEMAGFE (zone l) DMA - TVA 15% 
ZONE I- G : 

GO: 125 

ZONE B- 1 : 

GO: 1.04 SCSP: 1.43 

ZOHEBt-F: 

GO- 1.01 SCSP. 1.38 

ZONEN-F: 

SCSP 137 

ZONEnr-G: 

GO: 1 03 POD: a7D 


BEU3IQUE en FBfl - TVA 21% 

GO 21,74 POD: 1028 

SC97: 3198 SCSP: 30.91 

HOLLANDS 120082) MjG/ 1 - TVA 17 Jfc 
AU O1A07/S7 

GO 1J3R8 FOO: 0.7864 

SC97- 12489 SCSP 1.8894 

LUXEMBOURG en LUffl-TVA 15% 
GO. 18.96 

ESPAGNE (zone A) en PTASrt-TVA 16% 
GO 8224 

SC97: 10126 SCSP 102.41 
'Usage regfemerte 


Hctul^^^Sribunc 

SUBSCRIBER CUSTOMER SERVICE: 
For (MEtons or queries alxxi me dekv- 
ery at you newspaper. •» etius d yoir 
subscrfeton cr etna ontortnn a sutoerfe. 
lion, please cal the Wtowfng rurtters 
EUROPE. MDOLE EAST (Uffi AFRICA; 
TOLL FREE - Austria 0650 8120 Bet- 
ghon 0000 17S38 France 0800 437437 
Semoiy 0130 848585 Italy 167 780040 
Luxentoovg 0800 2703 Netheriands 06 
0225158 Sweden 020 797039 Switzer- 
land 1 55 5757 UK 0000 895966 Else- 
where (+33) 1 41439301 THE AMERI- 
CAS: USA (lol-lree) 1-800-8822864 
Elsewhere (+1) 212 7523890 ASIA: 
Hong Kong 2922 1171 Indonesia 809 
1928 Japan (toiHree) 0120 464 027 
Korea 3672 0044 Malaysia 221 7055 
Philippines 895 4946 Singapore 325 
0634 Taiwan 7753456 Thailand 277 
4485 Bsmhere (+052) 29221171 


VIENNA, AUSTRIA. Tel: 713 - 3374. 
Are you sad or worried? Lonely or de- 
pressed? Am you despwing a stoAti? 
n helps id tart about it. Phone 
BEFRI EIDERS a total oonMens. Mon- 
Fri. 930 am ■ 1 pm and avety toy &30 
pm - 10 pm. 


Real Estate Services 


MA MAISON 


TDU OWN A PROPERTY W FRANCE 
Ou seivces cover m voir absenca 
MaHeremce. cleaning, gadentog. repan 
tototHfe of Ms. gorernmert taxes^ae 
PLEASE 00 NOT HESITATE TO 
CONTACT US FOR MORE OETAtS 
FAX +33 (W 50 95 94 34 
Tel: +SJ m SO 95 35 35 
7 Domains de Own F-74160 Bossey 


Real Estate 
for Sale 

Monaco 


On agency estattshed In toe PiMpaly 
d Monaco tor more tan 35 yaara Is 
ottotog is experience. We can Mriae 
on luttoaseand rental of apotmerts, 
from etudtos to 7 rooms & oMas. 
We adnUstniB pivtt esaas. 

INTERMEDIA 

T* (J77) 93 SO 66 MFn 83 50 4S 52 


Paris and Suburbs 


PARIS Kb, ON SEINE 

FBG SAMT GERMAN! 

Butane view, sup® 230 sqm 
ttysnxafiw -Wbfrom 
rice hyoit balcony, toga makfs room 
PATRICK RAKJI +33 {Op 45 55 22 00 


AVENUE MONTAIGNE 

(PARIS 8*1 Uafe pied a lerre, 
beeutU 118 sqjn. large babmy.pailt- 
ing. Patrk* RANQ (Igl 45 56 22 00 


16th, AUTEUL 450 sqm TOWNHOUSE 


42 08 13 13 Fax +33 (0J1 42 88 IS 33 


Paris Area Furnished 


ideal aOTirnodakxt dudto-5 bedrooms 
OuaRy and servtoe assured 
RBU7Y TO HOVE It 
Tel +33(0)1 43129800. Fax (0)1 43128008 


Escorts & Guides 


BELGRAVIA 

ORCHIDS 

LONDON - PARIS 

THE FINEST A THE MOST SMCERE 
18 - 38+ IfTERNATIONAL 
BEAUTIFUL A ELEGANT STUDENTS 
SECRETARES, AF HOSTESSES ft 
MODELS + 

AVALABLE AS YOUR COWANON 
24HRS SERVICE WORLDWIDE 
Escort Agency Cm# Carta Weta*» 

TEL: LONDON ++ 44 (0) 

0171 589 5237 


VENUS IN FURS 

24HR WORLDWIDE ESCORT SetVICE 

LONDON ffffl 382 7000 

Al cards Advance bookings wekxme 


AGENCE CHAMPS ELYSEES 


ftrtohefe apoinwiis, 3 nw*s or more 
or unfumbhed, residentjsl areas. 


Tel: +33 1 

Fax: +33 


42 25 32 25 

45 63 37 09 


CAPITALE * FW777CRS 
HantoidiiBd cysBy apartnore, 
al Not tab end suburbs. 
TO: +33 (ffll 42 68 35 60 
Far +33 (tyl 42 08 35 61 
Hfete|) ftw base 


EXCEPTIONAL THJE DU BAG. 140 
sqm tt tren 4 iBd private oounyari. Qi- 

A 2 bethama, tSreng non, age Mng, 

al contorts. Free Aug l9Si ■ end Dee. 
FF4jS0MW* C8* +33 (Q)1 45 44 7B 74 


SOUTH OF LATIN QUARTER, 115 
too, 3 bertooffls, ttaUbfa Ms, bawg 
□n gattoa Ain. 1st FFK500 (S2JOO) 
d m the. TW +33 Ml 40 09 74 85. 


16th, VICTOR HUGO, 70 sqjn H bed- 
room, toga Mng. beatfU kMrea 
cities. 7 Jdy » and Auaat FF12JXD 
or FFI^WWBOk Tel +33W 47844144 


General Positions Wanted 

PERSONAL ADVISOR: Memflonal 
BurilNU Aflahs and Public RaWoN- 
. aaegic bualws pwnhg hr prtvae 

concemartty 

■ Ha nattinal ptrtc maga atoancama* 

strategy in 

erasming and Asian tnartaB; cmpOT® 
Mteai. n aitoauring. setvbe rnctar. 
heoe devtoBnarfenanawnwiL B?»n- 
anced W traveller. Engfcti, French, 
mtem Thai. WB rdocata to any 
Western menopols. &mal adnserttob. 

net Fax (062) 29^9974 • 


Executives Available 


highly HDUCATEDJWAL^ 

BUMHIST. 44. French, net tBvw” 
with many years W**™ " f 

tabby ng 4 harass ne9 toaBaw L ^r 5 

cnalengtag 4 sljmrt^|g toTJhyr^JJ 
Francear ftrao Avatotfe n«. Cattjt 
Nicolas: Tel. +33 (Ol 1 45 83 75 11. 
Fat +33 (0)1 53 B2 12 54. 


TO PLACE 
AN AD 


HcralfcX^ribww- 

Contact the Paris office: 
TeLi (8S-1) « « 9* 85 
Bl-w (35-1)41 43 9S 70 

E-mail: iWiBi-rliSitefO"* 


AUTOMOBILES 




Paris Area Unfurnished 


BETWEEN 

SWT GERMAIN DES PRES 
AND LUXEMBOURG 
in XVI th cemiy Townhouse. 
pFasrigtous 85 sq-m^+flO aqm tanace. 

TEL: +33 fl)1 45 44 44 46 


Residence Hotels 


CLARIDGE CHAMPS aYSEES 

rtgh dass rooms & sties 
Daly, weekly 8 ratty rates Paris 
Tef+33 {0)1-44133333 Facffll -42250488 


Employment 


Domestic Positions Wanted 


EXPEREHCED COUPLE - French, Por- 
tuguese, Spanish & some Enpsh. Cal 

LMm 351.12244774 


ATLANTIC GROUP 

ATLANTIC Entertaiwnent 

Conpanhim hr any occasion 



212 785 1919 


ATLANTIC Royal Platinum 

Guarartnd genora htaraational 
TOP-MODELS FROM 18 YEARS. 

h 44 (0) 7000 77 M It/22 

wUto the USA: 212 785 1919 

kiss@Btslar.coni 
LONDON PARIS NEW YORK 
COTE D'AZUR BENELUX 

Escort senritt Europe and Iftdfc Eas 


SWnZEHLAND-GERMANY-GELGIUM 

*f31-2l>427 28 27 

Znlch-GemmGasei^eflw- 
E^w*lafrllfeBtWhel»d«rfcriogni- 
Borm-DussehorMhuilch^leribv 
Bnaseb-Antwerp + A: Vienna 

LONDON: (0)171-878 8606 

COSMOS Escort Agency - Crettt Carts 


• ADORABLE GENEVA ESCORT * 
Discreet Warm Escort Savta. 

CM 022 / 321 99 61 


Alfred tontiw Sngt 10 
C++4027 Zurich 
Fare oiraoz 70 30 
Tel.: OlfflOZ 78 lO 
new TAX-FREE uaea 
ALL LEADING MAKES 
Same day raoWre+ion ptraalbte. 
renawobie up to G yeaiw. 
Weareofegtatwcara w«h 

[iKMI toraion ([ax-lroej plaMs. 


LIMOUSINES MERCEDES S-CLASS. 
Bcfc-floyce, Uncote Towncare Stretched 
from 12 a 120 Mm. Cal Taimur at 
TiLState Custom Coach 201-512-9301 or 
Fox 201-512-9344 USA. 


Auto Rentals 


FENT AUTO DERGI FRAIttE: Weekend 
FRSOO. 7 days FI 500. Tel Paris +33 
(0)1 4368 5555. Fax (0)1 4353 9529. 


Auto Shipping 




AMSTERDAM * DREAMS - ESCORTS 
end Dimer Dale Service lor Him or Her. 
Trt +31 (0) 2034 QZ 685 / 04 02 111 


SAVE ON CAR SHIPPING. AMESCO. 
Krtotwstr 2. Antwerp Belgium. To/From 
US. Alnca. Regular Roflo satow. Free 
Me l Tet 33X231-4239 Fax 23M353 


GUYS & DOLLS Escort Service 

MLAN’ROME'COIE D'AZURTARtS 
BRUSSELSlXMOONtUGANQ-SPAM 
^RMANY*SCANDINAVIA*TOKYO ETC 
Tab +39 (IQ 335 619 0438 Cwffl Canto 


ARtSTOCATS Escort Service 

3 Shoukltaa SL London Wl 
0171 258 0090 


MILAN* ITALY ‘ TOP CLASS 

Jub tecart Santee 39 iffl3«22577B7 
* Rom Lugano Parti timers Gerw+w 


BJTE Escort Service 

NEW YORK CfTY 
1-89046*6667 


EUROCONTACT WTl 
Top local & travel sendee worldwide 
PARB'STDCKHOLM'GBIEVA'ZURICH 
WVIERAWUSSaSI-ONDOfn/IENNA 
MUfTROME-al GEHMANY 8 USA 
Escort Setvfca Vienna ++43-1-212 OOi 


HBDrS HIGH SOOETTVIEWIA'PARS 
COTE CrAZUR7URlCH*GBIFUJN(CH 
Herratonal Escort & Travel Sendee 
Vtona ++43-1^354104 al creto cards 


CHELSEA ESCORT SERVICE 
51 Beauchamp Place, Lmtan SW1 
Tet 0171484 6611 


••EXECUTIVE CLUB" 
LONDON ESOORT SERVICE 
TEL 0171 722 5006 Cco* Canto 


BLACK BEAUTY ESCORT SERVICE 
Exclusive Elegant Educated 8 Fnemty 
Lonttxi 8 Heuttw 01819062261 Carts 


Autos Tax Free 



TRANSCO BELGIUM 

20 YEARS WE MLnra 
CARS TO THE WORLD 

Al makes and motote 
Expm Salas ■ Regsrattxi 
Slipping - insurance 

Transco. 51 VosssstoSiwr.. 
2030 Antwerp. BeJgxn 
Tet +32 3 542E2.40 
Fax +32 3 542.5897 


ATK WORLDWIDE TAX FREE CARS. 
Export + shj»* + regtiiaton c< nawi 
used cars. ATK NV, TemrekM 40. 2930 
BrassdiaaL Beta sun Phone: +32 3 
6455002. Fax +32 3 6457109. ATK. 
since 1959 


TAX FREE EuropeAJS REGISTRATION 
No Travel by wna & car tor ptoes Un- 
to**! Far +41 32 645 27 & T* 27 


YOUNG PREMIER ESCORTS 24 hrs 
European Gneraal Aaen tar 
your de'ight 0171 266 3040 Credi Cards 


K ft K TOP MODEL ESCORT 

VlEhWA’GERMANYITALY'FRANCE 

SPAWTSTANBUL'SWITZERLAND' 

Top European Travel Service avatobie 
For Wo. cal Vienna ++43-1-718-73455 


PRESTIGE ESCORT AGENCY Bftngual 
PARIS & GENEVA Swfcrtmd Contact 
direcife aqen« in French Tel 


GENEVA PRETTY WOMAN 
Cal 022 / 346 00 3? Escort Agency 
LAUSAMC-MONTREUX- BASH. 
ZURICH • CREDIT CARDS 


Attractive,. taU. experienced Lady Escort 
Service Tel 1+49) 1 71 -625 92 95 


"GENEVA " PARIS” 
BUTTERFLY Escort Sevte 
TN 022 r 731 90 81 


IN SPAIN HARMONY. Engtoh spoken 
Exdustve Escort SerA*. Madrid Tel +34 
1 3* 3588 Barcetro 34-J-296B698 


INTERNATIONAL YOUNG Enlrepreneur 
Privates Discreet Escort Serwcs 
London Tet 0958 569 098 


JULIA BEAUTIFUL YOUNG Brunene 
Fnendy and very SnapeN. Prrrale Escort 
Sendee London Tet 0410 772 BIG 


HONOPOl FRANKFURT 
THE LEAOMS E5COR7 SERVICE 
OFHCE NUMBER 069 / 955 20 774 


NICOLE VERY PRETTY AND SHAPELY 
Young Stand Prtvoe Escort Sendee Lin- 
ton Tel 0410 789 253 


VALENTINES INTERNATIONAL 
VIP Esccn Service ptwlos to view centre! 
London office 0171 835 0005 at carts 


VIENNA'PRAGUE: KENNEDY'S Escort 
Service Friendly, elegant, attractive, 
carts Day ft nrgtl M43 l i 5335044 


. -A 




m 





■ s -iSwrt ■ ■ u.. ■ ■ . r- vuiiff 10 




\S££ 




Comprehensive yet concise, informed yet impartial, the affairs of the world unfold on the pages of the World s Daily Newspaper 


su'i-i. I 






















































. i oT^- 


a. "i u® 


INTERNATIONAL HERALD TRIBUNE, 
WEDNESDAY, JllY 2. 1997 
PAGE 10 


STAGE/ENTER TAINMENT 


From Bahia’s Slums to Rio Debut, a 


By Diana Jean Schemo 

Sen York Tunes Sen ice 

R IO DE JANEIRO — Virginia 
Rodrigues’s journey began in 
the hillside slums outside Sal- 
vador. She was too poor for 
formal tr aining , but her love for music 
drew her to choirs at Roman Catholic and 
Protestant churches. Even so, she never 
abandoned Candomble, the religion of 
her ancestors, with its pantheon of deities 
and powerful percussion music. 

When Rodrigues, a 33-year-old 
mezzo-soprano, took the stage at the 
Teatro Rival here the other day, per- 
forming away from home for the first 
rime, the steps she had taken were all 
with her. 

And the result was otherworldly, 
mixing die purity of hymnals and a 


voice reminiscent of a young boy’s with 
the strong, nimble rhythms and instru- 
ments of her native soil. 

Ove mighr, Rodrigues has become the 
new voice in Brazilian music, and at least 
two American record producers, Joel 
Boyd of Rykodisc and David Byrne of 
Talking Heads fame, are competing to 
release her music in die United Stares. 
Caetano Veloso, who is probably 
B razil ’s most popular singer, brought her 
to Rio for ter debut and is helping to 
advance her career. 

Veloso, who watched Rodrigues’s de- 
but from the theater’s balcony, re- 
membered the first time he heard her 
sing-. She played a maid in a piece about 
social inequalities called “Bye Bye 
Pelo,” being done by the Olodum Theat- 
er Group in Salvador, Bahia’s capital. 

Throughout the play, she was only a 


silent presence, but toward the end she 
sang “Veronica." a Catholic a cappella 
chant, with which she also opened her 
show in Rio. 

“I heard her singing that, and I cried,’’ 
Veloso recalled. “I was amazed.” 

Paula Lavigne, a soap opera star who 
is married to Veloso, said Rodrigues's 
style is diffic ult for non-Bahians to ima- 
gine. Her first recording was not avail- 
able until after the show, so she was, 
entirely unknown to the audience. 

“Most people, when you say Bahian 
music, they say, ‘Oh, Axe or Olodum, ’ ” 
Lavigne said, naming two groups that 
play heavy percussion rooted in a re- 
discovery of African drumming. “We 
say, ‘No, she's not like that’ ” 

Then, Lavigne added, people say, 
“ ‘OJC, so she’s like Gilberto Gil; that 
kind of music’ " — a much softer sound 


— “and we say, ‘No, she’s completely 
different’ ” 

For Rodrigues, deluged by kisses, 
roses and champagne after her debut; 
the change in her lire has been dramatic 
and unexpected. She bad taken die stage 
nervous and unsmiling, an almost for- 
bidding presence, and Continued that 
way until halfway through the concert 

A fterward, she said she 
had .feared disaster. “These 
people had no reason to like 
me, she said. “They had oo 
engagement with me or my music.” By 
the end of the concert, she was dancing 
a rapid samba, teasing the drummer, and 
casting flirtatious smiles all around. 

“It was a dream 1 had,” she said. “I 
never imagined I could do it.’ ’ 
Rodrigues was not a total unknown. 


She had sung a Baroque hymn in a 
popular Brazilian movie, “Jenipapo." 
about apriesc friendly to the poor who is 
assassinated after standing by incen- 
diary quotations that a journalist made 
up anti attributed to him. Rodrigues was 
appearing with the Olodam . Theater 
Group, though she was not ea rnin g 
enough to support herself. She also sang 
at weddings and local events. 

At 12, she had begun working as a 
manicurist to help her family make ends 
meet She also wotted as a domestic and 
a cook. For a time, she studied piano .in 
the afternoons, but could not afford the 
lessons and had to stop. She began 
studying lyric singing about'tbree years 
ago, because she could continue the 
lessons without losing her job. 

Though Rodrigues’s family and her 
teachers quickly recognized her talent. 



they had no means to pay for 
lessons or promote her as an 
artist She sang at school assem- 

blies and in churches. Strangely 

enough, it was music that attracted her 
to the church and that later took her from . 
it The clerics reproached her after she: -. •„ 
sang on a television show for amateur 

^Sere wasa time in my life that I lost, , 

all hope,” Rodrigues said in her dressjl/ 
ing room as she prepared for her second' -., 
show. She was putting on her own _ 
makeup before slipping into a muteC 4 . 
green tent dress with beads around tW^.r , 
neck. “Where I come from, there’s a tor . f . 
of good people who need to be seen, 

■ ‘They love music, theyplay well, bur 
they have to work at something else./ . ^ 
because they never have a chance. All 
they need is access.” 




M i il : 



Fn m "Hrtn**a±wsn rEdlttoas Ftoiaa-MiM! 


Thomas Dorn's photo of Ali Farka Toure playing in the village ofNiafounke in Mali, one of 19 countries Dorn combed for images of music in Africa. 

A Wide-Ranging Look at African Music 


By Mike Zwerin 

International Heruld Tribune 


P ARIS — Thomas Dom arrived 
in the village of the master Mali- 
an guitarist Ali Farka Toure a 
day and a half late because of a 
flat tire and a slow riverboaL It was die 
middle of the night "Come on in.” 
Toure smiled. “I woke him up,” Dom 
says, “bur it was O.K. It was more than 
O.K. It was always more than O.K. 
That’s the way African people are. Gen- 
erous. like their music/’ 

Dom visited 19 countries in search of 
images of sub-Saharan music. He pho- 
tographed 300 music makers, from stars 
to heros in the bush. Alone most of the 
time, he traveled the African way — he 
walked or took bush taxis, donkeys, 
jitneys, buses and rowboats. 

He slept in beds in unlocked rooms 
suiTounded by poor people he did not 
know. He was carrying a DAT sound 
recorder and $10,000 worth of cameras 
and equipment. Yet not once was he 
ever assaulted, robbed or even scared. 
He was never lost or seriously under the 
weather. 

His theory about ail of this goes: 

■ “You have to work on not being afraid. 
You can steer people’s attitudes by your 
own attitude. If you show that you are 
afraid then there 'might be something to 
be afraid of. And you are also more 
likely to be sick if you are afraid of 
sickness.” 

Dom is no hippy. The itineraries for 
each of his six trips were carefully 
mapped out in Paris, ivhere be lives. He 
photocopied them, along with his maps 


and address books too. He earned them 
in different bags. He made sure that word 
preceded him wherever he went. He left 
with basic information such as * ‘You can 
stay with my family here" and * 'The bus 
from Bamako leaves twice a week.” 

The book that resulted is a 217-page 
table-top photographic album called 
* ‘Houn-Noukoun' ’ (Editions FIorent-Mas- 
sot). which means something like “open 
your eyes" in the language of southern 
Benin. The two CDs in the back cover, a 
kind of bonus, cany a total of two hours 
and 20 minutes of Doro-reconJed World 
music. There die short texts in Bench by 
Youssou N’Dour, Papa Wemba, Francis 
Bebey, Ray Lema and others. The book 
cost 1 million Bench francs (about 
$170,000) to produce, one copy costs 450 
francs. A German edition will be available 
later this year and English-language rights 
are being negotiated. 

Bom in 1962 in Cologne. Dom was 
making a fair living as a photographer’s 
assistant in Paris until clients cut back 
during the Gulf war. He had already 
taken photographs in Benin. Now he 
sorted them out and drew up an outline 
for a book that would convey a visual 
translation of African music. He pro- 
jected six three-month trips. When the 
German Foreign Ministry agreed to ad- 
vance him the equivalent of 150,000 
French francs, suddenly he was no 
longer an assistant. 

Discovering Chat Manu Dibango was 
touring South Africa, he left without 
delay to meet him there. People he 
phoned in Paris asked him about all the 
violence but there wasn't any, or at least 
he did not encounter any. He pbotograhs 


in black and white. He says that color is 
for shooting wars. Then he went to 
Mozambique and Zimbabwe and that 
was the first trip. 

He was careful to pay or barter for 
services. “It is important to be correct 
with these people, * he says. “You are 
suspect, you are white, you are colonial. 
When yon go in with a tape recorder and 
a camera they assume that you will be 
taking something from them for which 
you will be paid. And they are right. 

“Nobody talks about cameras steal- 
ing their souls any more, but many 
musicians have been ripped off. So I 
made sure everybody got a little 
something, even if it was only a couple 
of beers, m exchange for small services 
rendered. Everybody who was recorded 
was paid, everybody that helped me 
received a small salary." 


HI 


E paid for beds in friends of 
friends’ houses. He’d partic- 
ipate in the food, he'd pay 
somebody's brother who was 
showing him the way to a master mu- 
sician nobody had ever photographed. 
He learned the value of each country's 
money and was careful not to be too 
generous because that can be dangerous 
too. 

Nigeria was the only place where he 
smelled.danger up close. He was one of 
the rare white no use guests of Fela 
AnikuJapo Kuri in his compound in La- 
gos. Nigerian tanker truck drivers were 
on strike when he arrived. Fuel was in 
short supply, the place was nervous. He 
had an introduction to Fela's niece who 
introduced him to her uncle who invited 


him to stay. Just like that, so easy. “I 
was very lucky/’ he explains. Ode has 
to stretch the definition of Juck to make 
that stick; Because he was -also very 
careful. Sometimes he’d get an instinct 
and leave a place a day early. Mostly, 
though, he just got back the positive 
vibes he sent out. 

Fela is a hero in Nigeria. At least on 
the streets of Lagos. He has been in jail 
for political activities as well as drugs. 
Every Friday and Saturday he performs 
from midnight to 7 A.M. in his club. The 
Shrine. "It's a rough place. You have to 
be careful.” says Dom, putting it mildly. 
One night in there someoody said to him: 
"Don't trust anybody in Nigeria. Any- 
body." Then he waited a dramatic few 
seconds and finished: “Except Fela.” 

Dora photographed and recorded 
Pygmies in a village in tire forest He had 
an introduction to a wood prospector 
known as the "White Pygmy/’ who 
lived with his Pygmy wife aid daughter 
there. One of the Pygmies Dom re- 
corded played on a plastic jerrican as 
though u were a percussion instrument 

A master Gharuan guitarist took Dora 
on a bus trip to a village on the Togo 
border to meet the aging High Life 
trumpeter Papa Abokyi, whom he found 
dressed in a splendid traditional robe. 

When be was asked for permission to 
take his photo, Abokyi went into his 
house and came out wearing striped 
trousers, a jacket and two-toned shoes 
— his old stage clothes. Papa Abokyi 
looked for all die world like Bunk John- 
son playing Preservation Hall in New 
Orleans. That’s one of the ways African 
music looks. 


The Way They Were: 
Verdi First Versions 





By David Stevens 

International Herald Tribune 


L ONDON — Thecuireatinstall- 
ment of the Royal Opera's 
long-range Verdi festival hit a 
memorable peak with superb 
performances on successive evenings of 
two operas that most of those in the 
audience had never heard — the original 
versions of “Macbeth" and ‘'Simon 
Boccanegra." 

Both are almost always heard in their 
revised versions. "Macbeth’ ’ was over- 
hauled in 1865 for the Theatre Lyrique 
in Paris, 18 years after the successful 
premiere in Florence. “Boccanegra” 
was redone for La Scala in 1881, almost 
a quarter-century after its none-too-suc- 
cessful Venice premiere. Another lavish 
detail of this year’s festival is that it 
offers both versions of “Boccanegra” 
in different productions. 


soprano Georgina Lukacs. her long ^ 
black hair loose, tackled Lady Macbeth - „ 
head on. She was sometimes a bify- ‘ 
strident but sang with total conviction/ 
and hit her best form for the taxing^, 
sleepwalking scene. Roberto Scandi-/ 
uzzi was the excellent Banquo and Den/-, 
nis O’Neill sturdy in Macduff’s aria-j.:.^ 
Downes was the energetic and precise. 1 
conductor, in the pit with die orchestra, 
while the chorus, onstage behind the 
soloists, pretended to be witches as best 
they could with scores in hand. 4 

Verdi’s changes to “Simon Boc-i*\ 
canegra" were greater and drama tur-// ■ 
Ty major ones, done as they were 


with “Aida” behind him and 1 
already on his mind, and with Arrigo 

Boito as his dramatic collaborator. 

Verdi may have been giving Boito -a., 
tryout for their collaborations to come ; a „ 
Their big innovation was the fabulous^ : 

^ council scene, which enhances Simon 

the only* sour note was that “Mac- ' stature as a political visionary and gives 
beth" bad to be given in concert form the whole opera a different contour. On," f.-f 

view here, of course, was the scene \ t 
a baritone- renoj/- 


when the new production proved to be 
too complicated to handle in the existing 
time frame, especially with another new 
production" scheduled 24 hours later, and 
when the Covent Garden house is pre- 
. paring to shut down in mid- July for three 
years of a vast expansion and redevel- 
opment, during which the company will 
have to find temporary homes. . 

A late cancellation like this is a major 
embarrassment for a company of this 
stature, and Nicholas Payne, the Royal 
Opera’s director, bit the bullet and ap- 
peared before the curtain, opening his 
abject apology, and getting a slightly- 
grim laugh, by saying “Thank you for 
coming/ ’ The house also massaged the 

g iblic a bit with free-drink vouchers. 

ut the best apology was the quality of 
the performance, in the circumstances 
probably one.of the best-rehearsed con- 
ceit opera performances on record. 

Verdi was an industrious reviser, es- 
pecially of those works he held dearest. 
Two of his operas were so thoroughly 
overhauled they had different titles and 
characters when they reappeared Four 
others had major changes for later pro- 
ductions, and the minor adjustments are 
many. The last music he wrote for the 
stage was the obligatory ballet music for 
the Paris premiere "of “Otello” in 1894. 

Indeed all Paris wanted for its staging 
of “Macbeth” was some ballet music, 
but Verdi gave them that and a lot more. 
Edward Downes, who prepared the per- 
forming edition and conducted on Fri- 
day, reckons that more than a third of the 
music of 1847 is different from the 
revision. The most obvious change is 
Lady Macbeth's vigorous Act 2 
cabaletta, later replaced by the aria * ‘La 
lace langue," while Act 3 was heavily 
rewritten, as was the final scene. 

The singers gave it as much action as 
they could As Macbeth began to hit the 
skids Anthony Michaels-Moore shed his 
white tie. unbuttoned his collar and 
threw off his tailcoat. More to the point, 
he. sang with splendid tone and offered 
much promise in his first Macbeth. 

In another role debut, the Hungarian 


replaced, essentially 

encounter between Simon and Gabriele . r i 
Adorno, given an unstinting account by , ‘ " i 
Sergei Leiferkus in the tide pan and.. ’ j 
Placido Domingo. Much other music./,/ 
was new to most ears, beginning with . ; ‘ 
die jaunty prelude. - * 

Leiferkus excelled as die doge of Gen-*, 
oa, somewhat dry of voice, but eloquent/" 
of phrase and a noble actor. Domingo,:, 
who like the others had to learn a lot off 
music he had never sung before, was in *. 
superbly youthful voice and an artist as’ 
always. The soprano Kalien Esperiaa-^ - 
was an animated Amelia, Jaakko Ry~= 
hanen the imposing Fiesco, and Peter 
Sidholm effective as Paolo, a more prim — 
itive villain than in the later version* ---j 
Made Elder was die intensely committed -*• 
conductor. . 4 

John Gunter's single set was dom- 
inated by a large, curved period en j 

graving of Genoa, although the period 
of Deirdre Clancy's costumes was. 
strictly 19th-century Risorgimento. 

Why the entire set was tilted was nc 
clear, but Ian Judge's staging was con 3 
ventionally sensible. 


T! 


HE revised versions of both - 
these works will surely remain ' 
die norm, benefiting as they do . “ 
from Verdi’s greater dramatic . 
conciseness and powers of musical,^ 
characterization. The surprising tiling is 
how good the first versions are on theii 
own and how much they gain from. 
stylistic integrity. 

“Macbeth” No. 1 was the best thing f 
Verdi had done up to then, but in 1847 his/, 
reach was beyond his grasp. “Boc/ . 
canegra" No. 1 is more, a drama 
personal conflict than die later political: 
tragedy, and the brisk directness of die 
music lacks the dark beauty of the re- Vt 
vision, although the uncanny sound of the //V 
sea was there from the start. Revisiting; 1 
Verdi's first thoughts was a splendid r _ 
idea, splendidly done. Let’s hope we get^V 
the missing "Macbeth" production be-' / 
fore the miller"-’ — 


ionium. 


Peter Hall Tries Again: Waiting No Longer for User-Friendly ‘Godot’ 


By Sheridan Morley 

Intemanotul Herald Tribune 

L ondon — plays 

don't change, audi- 
ences do. The lesson 
of Peter Hall’s new 
Old Vic staging of "Waiting 
for Godot," which he intro- 
duced to Britain and last dir- 
ected in 1955. is that although 
some of us may still share 
doubts about the true genius 
of Samuel Beckett, there is 
now not a lot of doubt about 
where his script came from or 
led to. The tramps eternally 
awaiting the absent Godot are 
from Laurel and Hardy, and 


they lead us to Morecambe 
and Wise; the Rosencrantz 
and Guildenstern of Toro 
Stoppard are their most im- 
mediate theatrical descen- 
dants, and I guess what Beck- 
ett taught the whole world of 

LONDON THEATER 

dramatists was that an audi- 
ence could be more intelli- 
gent and even more tolerant 
than had hitherto been sus- 
pected. 

The difference between 
1955 and how is one of con- 
fidence on both sides of the 
footlights; actors play in the 


knowledge that they are do- 
ing a classic, and when the 
audience laughs it is because 
they have been empowered 
by world reaction across four 
decades to do so. 

If Hall’s ground-breaking 
production, was, as Becketr 
thought, rather top-heavy on 
sets and sentiments, this one 
makes amends. Alan Howard 
and Ben Kingsley, back on 
the London stage for the first 
time in a decade, form the 
most dazzling double act any- 
where in town as this quint- 
essentially Irish odd couple 
(could it be that Jack Lemmon 
and Walter Matthau also de- 


rive from there?) with a mix 
of despair and delight, pan- 
ache and paranoia, which 
alone would be worth the 
price of admission. This is the 
definitive “Godot,” if for no 
other reason than that Hall has 
had more than 40 years to 
think about it and we have had 
the same period of time just to 
get used to the idea of a play in 
which, famously, nothing 
happens twice. 

One of the many great 
strengths of Hall at the Vic 
has been his ability to com- 
mand supporting casts the 
like of which the Royal 
Shakespeare Company or 


Shakespeare's Globe or, in- 
deed, the National would kill 
for. and sure enough here we 
get Denis Quill ey as Pozzo, 
going from majesty to mad- 
ness as a kind of miniature 
King Lear, and Greg Hicks as 
Lucky, making up in sheer 
theatrical energy what his one 
great speech still lacks in 
philosophical coherence. 

This is the user-friendly 
“Godot,” no longer an im- 
penetrable wasteland but a 
reasonably straightforward 
tragicomedy about two vag- 
rants determined to blame on 
their boots the faults of their 
feet; all they need now are a 


couple of cardboard boxes 
and they can join the real-life 
community of night people 
under the arches of Waterloo 
just a few yards from the stage 
door of the Vic. 

D ESPITE consider- 
able success all over 
America, it has 

taken Jo nathan 

Toiins’s “The Twilight of the 
Golds” (at the Arts) four 
years to cross the Atlantic and 
I can see why, this is a curi- 
ously Manhananesque mix of 
sitcom and social drama that 
owes more to such TV hits as 
“Cheers" or “Friends” than 


I ■ 

ESCAIK 

in Paris 
SALE 

on summer 
collection 

Marie-Martine 

8. rue de Sevres, 

Paris 6th 

Tel: 01 42 22 18 44 

_ . , NOT JUST FOR 

^mpnoi NATIONAL ADVERTISERS... 

M Departing and transfer passengers watch live news For information contact: Mr. Arjan Siccaaia, 

HI on the hour, spurts, fashion, music and film. Lena &C Flens Total Communication. 

j ' Near die duty frcc'shops, in the waiting areas and as Phone +31 297 26 4130, Fax +31 297 26 3458. 

| 1 j : all gates. For advertisers a unique opportunity to reach 

■ | Hill |[ this captive audience. 

As experienced by Seagram International. A UtliCjUS medium 3t <L unique location. 



to any more strictly theatrical 
source, rooted though it is in a 
passion for Wagners “Ring” 
as echoed by ihe title. The 
Golds are a high-income 
couple of affluent achievers 
who discover that their unborn 
son is genetically destined to 
be gay. 

To abort or not to abort? 
The wife’s brother, a Wag- 
ner-obsessed gay, is under- 
standably indignant that the 
question should ever arise, 
and as die whole show is writ- 
ten and voiced from his per- 
spective primarily, it is not 
surprising that we can soon 
guess the outcome. Along the 
way, Tolins drifts down any 
byway that affords him a 
good gag or any new little 
insight into the problems 'of 
growing up gay and Jewish in 
the big city. In the end the 
play seems unable to decide 
whether it wants to be Neil 
Simon or Wendy Wasserstein 
and therefore misses both tar- 
gets, though the actress Polly 
James in ho- first directing 
role does get some very good 
performances from Gina 
Bellman and Sheila Allen as 
two of die five characters still 
in search of an author here. 

And finally, the return to 


the Donraar Warehouse of .1 . 
"The Maids,” which, also. /. 
written in Paris only a few 
years before “Godot," has. ^ 
taken a half-century or so to 
find its true focus. Based on a 
celebrated murder trial, this — 
erotic black Mass, in which: 
two oppressed chambermaids 
gear themselves up for murdfr i :, r 
through a series of increasif/a 
ingly creepy power games." 
has recently often been played/:/ 
by men in drag, something the 

playwright, Jean Genet, sug-'T 
nested as early as 1947. But. Z'r 
for this new production of an Z : 
agile David Rudkin transla-' 
tion, the director John Crow-.- Z 
ley has gone back to basics,: *;* 
with Niarnh Cusack and Kerry 

Fox in fine form as the maids- - 
of the title and Josette Simon,' . / 
cascading from a great height- , 
before joining them in the - 
lower depths as their mistress'.. ’ 
This is not 4 production thqt f- 
teils us anything we did not "- 
already know about the play.- Zf 
and even in a brisk. no-in- : in - 
termission 90 minutes, the _ 
characters still seem to be' '/ 
playing one or two power 
games too many. For all that, . i 
Genet’s fantasy remains a /: 
powerful argument against : 
going into domestic service. 


l-.-.A. 


t.:- . 









% 


BUSINESS/FINANCE 



1 


sitl m> mean* :o p^-„ 
a « promote her 

She sang aiswhonr.j/,1. 

and »a churchs, s-'" 
u wm music ihur^V."' 
owuefa and that late "• “ ' 


WEDNESDAY, JULY 2, 1997 


PAGE 11 


k,A 


sports Indicate Slowing U.S. Growth 

e clerics reproa^ h-.* 0 - O 

v “ telev ‘ , an ■' : ^f^pouring of Data Comes cis Fed Opens Meeting on Interest Rates 

Rodrigues. bji.: 1‘ ov tetfPna Diqm** Robert Dederick, an economic consult- 

ant at Northern Trust Co. in Chicago, 


CatvBedte Oar SafFim Dbporhn 

The U.S. economy 
rears w> oc slowing from its torrid 
:>5iarier pace, fresh reports indi- 
tuesday, as Federal Reserve 
policymakers met to deride 
to take further action to head 


wth in maaa£acturmg slowed in 
construction spending fell, in 


ym AS she prepared .-V'“ i tfEtV YORK — Th( 

She was punuv .2 ^eajs to be slowing 
ip before slipping .... 
teat dress w»*h hej 
' ‘Where 1 come 
*1 people who net/. ' 

^> lovenmsu. ;hc . 

»e to work jt yy''. 

•e they never h,a c . 0 . - 

«Pd is acccs* " “ ‘ rt^rst showing In more than three 

^ and a gauge of future economic 
jvjty rose just slightly more than 
ttBarists-had expected, 
n a closely watched report, the Na- 
ul Association of Purchasing Man- 
1 • merit said its index of business activ- 
-« fell to 55.7 in June from 57.1 in May, 
jesting that a factory production 
xn might have shifted into a lower 
ir. Economists had expected a read- 
:of57. 

News of the slackening economy 
ne as markets awaited the results of 
■r ; inteiESt-rale policy meeting of the 
Mdd’jfttoa* Market Committee, which 
• .:*kp aWo-day meeting Tuesday. 

* . /. aentogethcr, the reports were seen 
■ Li- a^igp of a cooling economy that 
r. ju^torcsialj an interest rate increase 
v . „ „ . tffe Fed. : That view pushed bond 

Neill >mrdv a and blue-chip stock prices 

■:? 3 Skvmnz> 

^ P ik v - : . • -.^“T^btis is the perfect economy/' said 


y Were 

irsioils 


to Geori:;c2 LjI... 
U*r loose, tackle.: i. 
on She was m.-:., 
d blit With 
tf her best tom: 
aikir.g a«cr.e. R.-. 
** tfw ex-jefleu! a_ : . 


with growth and job creation continuing 
without any sign of inflation. “Why 
tinker with the dials?” 

The Fed tightened credit in March for 
the first time in more than two years, 
increasing its target for the federal funds 
rate — at which banks lend each other 
funds overnight — to 5.50 percent from 
5.25 percent. 

The pnees-paid index of the National 
Association of Purchasing Management 
fell, while its measure of manufacturing 
employment rose for the fourth straight 
month. Order backlogs increased, while 


supplier deliveries : 
The 


the chorus' on*:.: 
pretended ro K- 
:aiUi \ 


monthly report, which is based 
cm a survey of purchasing managers, 
often influences the financial markets 
because it provides indications of the 
economy's direction. A reading above 
50 percent suggests an expanding man- 
ufacturing economy, while a reading 
below 50 percent suggests it is shrink- 
ing. 

Meanwhile, the Conference Board re- 
search group said the index of leading 
economic indicators rose 03 percent in 
May. The rise, to 103.8, slightly ex- 
ceeded expectations for a 03 percent 
gain, but tailed to alarm Wall Street 
when taken with the other reports. 

The May rise in the index followed a 


in April of 0.1 percent 
er the six mouths through May, the 
index increased 1.2 percent, with 10 
leading economic indicators advan- 
cing. 

The Conference Board said six of 
these 10 indicators rose in May, with the 
most significant rise in stock prices, av- 
erage weekly new unemployment 
claims, vendor performance and con- 
sumer expectations. 

The most significant negative con- 
tributors in May were factory workweek 
and interest rate spread. 

In a separate report, the Commerce 
Department said construction spending 
dropped 1 .8 percent in May, reflecting 
widespread weakness in commercial, 
residential and public construction. 

The weakness in construction spend- 
ing may be just a pause, analysts said, as 
sales of new and previously owned 
homes are cm the rise, Moreover, the 
outlook for commercial and govern- 
ment projects remains bright 

“It’s a very promising environ- 
ment,” said Douglas Bennett, market- 
ing director of Tomer Corp., a large 
U.S. construction company. 

Construction activity totaled a sea- 
sonally adjusted annual rate of $585 
billion, compared with $595.7 billion in 
April, the Commerce Department said. 

(AP, Bloomberg) 


witt; score" 
riunge* ■ 

3 " were greater .. 
major mur-., dor..- 
Aida” behind ft: i:. . 
> us Ji;» fttmj. • 
as hi* dramas 
may bate tree:: . 
fot iheir coilaboi.:: 
irbiginnovjt^a . 
ilCCtTC. 

snapoljfuMls;:.' 
ok* opera J dti “r* . 
if re. of cour«:. 

’.ter between S.r: 
a ^:sc;:a!: nr.* 
Ledeikiis us :... 

■ Ckyrur.gc \S-„. . 
itj ino*; ear*. • . 

r::> rtfriuJe. 

4-j :. 

lew ha: dr\ irf ve ; . 
1 st and 4 n :tlc 
vc sre : 

;SC had wver 
i> .outhfji iojvc. 

. Ilac nojpranu ILti 
i jurjiuted AiTiitii.: 
T v? ‘.rrpihtjii! F;r-. 
r.rirartsvr.t 1 ’.- 
kiu than «r. r ...- . 
Iv: aj- ■ 

ui 

fT-'jIcr'-s . 

K i!i4r g *e. 
i ci o.-h«m . + . 
i.'4*e C.m.s • 

IVlh • 
ie eat '? •.■ . 

tit Ij' ; .. 

x, 'i ■ifc r 

|HF. fw.-r« 

’hr 1 *** uorx:- ••• 
the Nrr 

Hon: W:/-'- 
•«.»* • 
n.ut.or,. T> • 

»ai ihr V - ‘-V-: 

c^t' v : ■ 

Iwyi.-od 
Sti : i- ■■ 
t :?i j • 

son wc fH---- 
*-k - Stic di:i. • 

udk 
. there 

ftrst ' 

fcndully- ±‘r.‘- : 

inienri-r. 


Quarter’s End, Mysterious Markets 


Ir-. 


o> By Floyd fJorris 

N r New York Times Service 


/VEJW YORK — As the closing bell 
- : - the New Yorf Stock Exchange 
V - /JBunday, the valueof Coca-Cola Co. 

- .'^ jnged by $5.6 billion. Just before the 
• ' : iBXoke traded at $^9.75. Then, in the 
' . ‘aftrade, just a moment later, the price 
” !!s $ 6730. ■ 

i was no sudden announcement 
: a plunge in profits, or a forecast 
/ .it fhe summer would be too cold for 
■\.yiy soft drinks to be sold. Never- 
Jets, there was a flood of sale orders 
'it rnt the Big Board to be executed at 
final price offhe day. That final trade 
~s f .4 million shares. 

_ ■ Xrike was not alone in making a big 
r ywpjusi as the bell rang. Some others 
rvfcd np nicely, snch as Walt Disney 
; k.^hich added $1375 at die beQ, and 

- - rzrh,* mm* M—mmmeimmmmmm—mmmmmm 


Procter & Gamble Co., which gained 
$150. In fact, it appears that more 
stocks rose than fell as a result of such 
last-second action. The Dow Jones in- 
dustrial average was 1 1.66 points higher 
as a result of aU the final trades. 

Just what brought on those large or- 
ders is opai to question. Some, no doubt, 
were related to the closing of positions 
in some index options that expire on the 
last trading day of each month. And 
gyrations in small-company stocks may 
have reflected the fact that the Russell 
2000 index was adding new members 
and deleting old ones, forcing those who 
ran mutual funds based on that index to 
buy and sell stocks. 

But some traders, who insisted on 
anonymity, said they thought that some 
of fee action involved a hit of end-of- 
quarter performance enhancement A 
manager with a big stake in, say, Dis- 


ney, could put in an order to buy a lot of 
stock at the close, and see the rising 
price show np for all the other Disney 
stock he owns. That could make the 
quarter look better when performances 
are compared. 

Similarly, a manager whose portfolio 
had some Coke stock, bur less than the 
amount that would be called for if the 
manager was trying to match the per- 
formance of the Standard & Poor's 500, 
could sell some of that Coke stock. If the 
sales drove the price down, that would 
reduce die performance of the S&P 500 
by more than it reduced the performance 
of that manager. And the net effect 
would be to improve that manager’s 
relative performance. 

It is possible to put in orders to be 
executed at the close of trading on any 

See TILT, Page 12 


MEDIA MARKETS 


Ir 


fhereVGold in Recycled Photographs 


u By CHandia R Deutscb 

New yitrkjlnrex Service 

YORKr — When Anthony 


of business this year recycling old pho- 


- • ^Se, an 80-; 

- ■ imericanin 

922 

immigrants 
jcandale, he 
-'-ladejfafri 
■ “It was 
'itfa' Walras mi 
- -aide “I’m 
--“bofos topass 


r-old first-generation 
New York, found a 
r his father and other 
the Italian city of 
ly had prints 
nth Scandalese roots. 

aU those people 
iches,” Mr. Scause 
S' to lock for more old 
now, too." 



~ Dr. Richard [ Selby, a 55-year-old 
TC eurosuigeoa “Santa Ana, California, 
ot hooked on the past when he found a 
"- 5- year-old photo of himself and his 
“-Tomfer, taken ii his “Elvis sideburns” 

* ays.' He gavrf his mom a copy for 
-lotjier’s Day, end now be may reprint 

.-iore“old shots [ 

• \ ^?y *° focus <m the current ones, lart 
'i : %avc to adrrA the old photos are in- 

’-'srestaig," DrxSelby ;sakL 

Tnfey are c^ainly inKaresting to East- 
-Marf^Kodak Cp., Seiko Epson s Epson 
. r-unerica ' Inc, Hewlett-Packard Co., 
- /crox Corp. and other companies that 
ave spotted a lucrative, untapped mar- 
et in the billions of pieces of pho- 
jgraphic memorabilia gathering dust in 
toeJtoxes. Their motivation is far from 
'entimental. 

“Working with old photos is like 
tinting money, the margins are so 
teat," said Mitchell Goldstone, the 
wner of 30 Minute Photo, a photo- 
. rodfessiug shop in Irvine, California, 
.•lat'he expects will do $100,OCX) worth 


Jot are the financial benefits con- 
fined to immediate sales. 

“People who get more ase out of old 
pictures are more likely to Cake new 
ones,” said Robert LaPerie, a vice pres- 
ident of Kodak. 

They are also more likely to pass 
them on, said Antonio Perez, a vice 
president of Hewlett-Packard. 

“People who start off with old, sen- 
timental photos will soon send new ones 
speeding along the Internet," he said. 

It is no coincidence that old photos 
are getting all this attention. The advent 
of cheap scanners, printers, photo-ma- 
nipulation software and do-it-yourself 
machines at retail stores — coupled 
with the pull of nostalgia — has promp- 
ted more and more people to restore 
pictures. 

“Consumers can cheaply restore and 
print a photo that a trained technician 
used to charge $75 to do," said Willard 
Clark, executive manager of the Pho- 
tographic Manufacturers and Distrib- 
utors Association. - . . 

About 13,000 photo-processing and 
mass-market outlets have Kodak ma- 
chines that let consumers crop, fix up 
and reprint old pictures; Kodak plans to 
have 50,000 installed by 2001, 

Copy shops and photo-finishing 
stares are using copier-printers to rep- 
licate old photographs. Xerox has sold 
numerous printers to funeral homes, 
which make keepsake booklets of pho- 
tographs that chronicle a deceased per- 
son’s life. 


Photo-processing technology is also 
moving into the home. 

Epson America recently introduced 
its Photo Plus Print Studio, which in- 
cludes a scanner, an ink-jet printer and 
assorted cables and software packages 
for about $500. 

Hewlett-Packard is marketing Photo 
Smart, a similar package that at $1,400 
can also convert negatives and slides 
into new photos. 

According to the Infbtrends Research 
Group, which tracks the imaging in- 
dustry, 1 5 million low-cost scanners — 
most of them under $400 — were sold in 
North America in 1995. Last year 25 
million were shipped, Infotrends said, 
and it projects that 9 million will be sold 
in 2001. 

Kristy Holch, the president of In- 
fotrends, who noted that scanners are 
still used mainly for documents, said, 
“People don’t buy the scanners just to 
digitize the attic photo, but that’s one of 
the things they do with them." 

The same is true for printers. 

Another organization, Lyra Re- 
search. says Americans bought $132 
milli on worth of home-sized photo- 
printers last year. It predicts sales will 
rise to $245 million this year and near 
$450 milli on by 2001. Including sales of 
document printers that can also print 
photos, which most new ones do, sales 
of photo printers are expected to top $4 
billion in five years. 

“If only a fraction of the printers are 
used for old photographs,” said Steve 

See PHOTOS, Page 13 


CURRENCY & INTEREST RATES 


-row Rates 

in. 


July 1 



ml er ui an u sr. r« 




r K \. 

£ 

;-ir :• 

p-" -• 


'ins ue us m aim* — uss* ua uw* un ub* 

tall smb voa uas imr iu» — mms tna am ate; 

*hx65 mb — taa urn- um urn* ija ijw’ ““ 

-'.UR, — MM U91HHB 1257! 05401 142 HUM UJSUW 

'nuAMaejs ua 2 ur at** nan 4BS mm rawimw — . 

■ — mwt nvr mm — tua imus uns usms ns» 

«fy*fc<N . — -USWttUM S06 UOUO MB* 3UD MB 1UM UW JM 

MM 4 9JB XM9 — - KSH5’ UW U4U U« HtB* X25K UH5* 

.■te*: an iw un a* uns nn — rnv us 

HMhk Q)Md* - * 

. . um 24ZU U3B ft2M» OjOOO* VUI UKB* — 1319* U5M WBt m 

■ *ET ; U 2 » am van ua w& vm nun ud ns w 

sue* uw tum ui uuj usm 4»n ura vbjm M 2 « 2 ib« 

?°^b*B**m*Mn.LondonAM*tPBn3an*ZP^Mapmatt& 
i 4 PM. MTofuab item nfJPM . 

* **rmim4* ntmromdaaac^t^offOttHOjnel^iMNA^n^maaa^ 


Ubld-Ubor Rates Jutyl 

Sn m Freocfi 

DaBor D-Mak Fnac Stifling Rue Yan ECU 

T^north SYk-SVis 3-3VU 1W-U4 Vf* - 3V» V>-Yl 4VU-41* 

aflWrtCTfcrCT* 3-JVt 19b- 1» SV-S* 3M-3» V*-V» 4n-4*m 
Wnonfc5Wi.St!b3Wi-SVW lVi-lH «Vb- JW 3M*-391t 
i-fw jn-m 3W»-3U tta-m m-7v* atu-avs -y»- v* 

Sources: XeoUss. LkytH Bank 

Kaies appaablc to mmonmMnumlorequMam. 


Key Money Rates 


WMar VSaiues 

'***? Ip * 1 ‘MTwr Pits 
' GrmkJhac ZUJf 

* jSS? 1 *- Haog Kangs 7JM 

12Jtt Hmg.*«W 18L.W 

wWfNl 1.4W? mdoanpae 3&90 

unr. IMfa.ropiab SOLDO 

3238 UWiE U*1 

. ?■>* !«-! 6^361 tandsMk. .15953 

33952 KHMSMr 030M 

“ SWA 5-1993 Malay, ring. ISM 

■' ***&$ Betas 


Mg r MW 9*m 

\MOA 14630 IjISW 
13775 13752 13727 

.""WniBl 1J416 J337B 1333* 


CMiwcy 
Mmupuo 
N.ZMtnad$ 
NarM. kroaa 
PWLpKo 

PtfMxMr 

PNtMcada 

taiek 

SaodlrtyM 

Stag-* 


Oil I MKT 


Pert 

J SO* 

1-4738 

73W 

2*37 

339 

17*27 

577330 

335 

142K 


S.Afr.rand 

*LKar. Wan 

SMrtLkmw 

IbhMBS 

TMbaht 

TBrtbhfen 

UAEdirUn 

WmlM). 


nrt 

45345 

88730 

7J401 

2731 

2430 

148045. 

3471 

4ftSJ5 


x-4sy «4oy «woy 

11444 1U9S 11346 
14579 14528 1447* 


ten** <ie FnncctMsk BankNTotyo-Mnsu&saCraftai; 


UnUriSMlM 
■MsaMBtrato ' 

Prtntnto 

Mwtdfamb 

AHtayCPiMm 

188^WCP8MM« 

3 soaffi Tmnoy bB 

1 -yearTnaswvMU 

S^ftar'nwnn'MK 

SfearTicnniyMl* 

7^wr < nMBMnriM94 

IftgMrTranswynta 

atHWWTKKmybocB* 

M*n*Lt*cli30*rrKA 

ass. 

Discount mie 
CaflnHMy 
l-mnik iHlarMMk. 
3-Mttl MbfMtt 
AHianfli aUartnnk 
ibyearGvrt bond 
Cnrn^f 
Lanbartints 

CW1 money 

1 -manlti hter w mfc 
WitUifiMI 
MsmUlihiWbank 
UH«jt BwwJ 


am 

5L00 

8V4 

Oi 

548 

548 

5.10 

S3* 

*02 

632 

*37 

*44 

*74 

SJOS 

050 

04* 

05* 

0*5 

030 

240 

*50 

no 

no 

&I3 

31* 

548 


*00 

816 

M 

548 

5*5 

5.06 

*36 

*07 

*39 

*44 

*50 

*7B 

505 

030 

04* 

as* 

045 

030 

240 

*50 

*50 

no 

173 

3.15 

532 


Bank bm rtf* 
OalMKy 
l-niMiflitnfiriMHk 
3-nantti hdarttapk 
6-mMHh Wwbank 
lOywrSBt 


Wi M 
m 

*m m 
6M *U 
7J» 7.00 

7JB 7J0P 


IntawonWnn nrt« 
Con money 
l-omtt WhHlmik 
3-mwitt jcteihonk 

10-ywrOAt 


no no 

3*b 39b 

3W 31* 
2Vb 3V» 
3M 39* 
533 548 


Gold 


AJtL PJ* W3* 


ZOIMI NA. 333.50 -030 

Lnadan 33345 33330 -085 

HiwYwfc 33*90 335-10 UnCh. 

U4. tjotiais per ounce, t ffta | QffidW 



l>. IVvt kn-llrl' VpiM v I m r -15. 

Mr. Kohl, left, and Mr. Stoiber smoothed their differences at a conference in Munich on Tuesday. 

ans Resolve Feud Over Euro 



By John Schmid 

inremafionai Herald Tribune 


FRANKFURT — One of Chancel- 
lor Helmut Kohl's most virulent critics 
softened his attacks cm Mr. Kohl’s 
European policies Tuesday, calming a 
domestic political battle that had 
threatened to undermine European 
monetary union. 

“We both are pulling in the same 
direction. " Premier Edmund Stoiber 
of Bavaria said during a joint appear- 
ance with Mr. Kohl in Munich. 

Mr. Stoiber, a staunch conservative, 
suspended his protests against a com- 
mon European currency, and used the 
occasion to declare drat a stable euro 
would be a great opportunity far the 
German and European economies. 

The conflict between the two men has 
reverberated outside Germany, unset- 
tling financial markets and prompting 
European leaders to warn that the feud 
threatened Europe’s integration efforts. 

In recent weeks, Mr. Stoiber has 
emerged as the self-styled defender of 


the Deutsche mark, threatening to push 
for a delay of the planned single cur- 
rency if countries failed to meet exactly 
the criteria set out in the Maastricht 
treaty. Because Mr. Stoiber's Christian 
Social Union party is a key partner in 
Mr. Kohl's coalition government, the 
feud raised fears that it could weaken 
Mr. Kohl politically and diminish Ger- 
many’s support for the euro. 

Mr. Kohl took the first step to defuse 
Mr. Stoiber’s main grievance early this 
week by issuing a public assurance that 
he would not allow the budget criteria to 
be watered down. Germany, like many 
other EU members, is struggling to get 
its deficit to below 3 percent of gross 
domestic product this year to qualify for 
monetary unioa. 

On Tuesday, Mr. Stoiber said he was 
satisfied with the chancellor's “clear- 
cut position." He said Mr. Kohl had 
said “with greatest clarity'* that the 
criteria would be met. although the Bav- 
arian cautioned that die German debate 
over monetary union would continue. 

After the two men spoke informally 


at the conference, Mr. Stoiber denied 
that any irritations had flared between 
them. Mr. Kohl said last week that Mr. 
Stoiber was “going to get a smack on 
the head." 

Mr. Kohl also reiterated Tuesday his 
opposition to any delay in launching 
the single currency in January 1999. 

“Departing from the timetable will 
not be the road taken by Germany, and 
it certainly will not be mine," he 
said. 

Meanwhile, Luxembourg's prime 
minister, Jean-CJaude Juncker, who 
took over on Tuesday the rotating pres- 
idency of the European Union, said the 
criteria debate had become harmful. 

“In other countries,” he said, 
“many people now believe that if Ger- 
man public opinion is putting up with a 
partial softening of the criteria — they 
no longer have to make an effort." 

In France, however. Laurent Fabius, 
the Socialist speaker of the National 
Assembly, rejected sacrificing jobs for 
the criteria, saying. "We are very 
much Europeans, not fetishists." 


Glotal Private Banking 


Sec 


URITY IS THE MAIN REASON 


WHY SO MANY CLIENTS BANK 


WITH US. AND STAY WITH US. 



Hoadquartavs of Republic 
National Bank of Note York 
(ShimJ 54. m Genera. 


Many private tanking clients split tkeir 
assets tkree ways. Tkey keep a part for special 
opportunities. Anotker part for longer-term 
growth. And, very importantly, a part they 
know is absolutely secure. 

At Republic we are well equipped to 
provide our cbents with all three options. But 
what the hank is best known foi> world-wide, 
is its outstanding security. 

We assure security by maintaining some of 
the strongest capital ratios in the hanking indus- 
try, a high degree of operating efficiency and a 
relatively small loan portfolio. Our credit ratings 
are AA. 

Clients sense this security in the quality of 
our service: personalized, responsive, hut meticu- 
lously discreet. Which is why they hank with us, 
and stay with us. Security and service, after all, 
are the heart and soul of Republic. 



VartJ Headquarter* of 
Republic National Ranh of 
New York in Nate York. 



Republic National Bank of New York 

Strength. Security. Service. 


A Sain Bank . Nrw Yorfc ■ Geneva - London ■ Beijing • Rc'mil ■ Bmcrlji Hill* - llucmw Airea * Cayman Island* - C..|wn|w4en ■ CilirJlar 
Gocmicy ■ Hong Koof! • jaluurta ■ L«W Angfclea ■ Lugoim • l.u3Hrn>l>uir£ ■ Manila « Mexico Cily ■ Miami • Milan • Mnnle Carlo • MonleviiliNi 
lcmtrcaJ ■ Mukow ■ Nmmu • Faria • Fcrik • PunU del Eale * Kio Jc laneim - ruiti.^ - Singapore ■ Sydney - Taipei * Tokyo - Turnnlu ■ Znrkli 

® KqxiUx. NjIuhuI Kant- .if N.-*- \,.rt\ 


lOaOngpifoesNewYaikt 
CAugJ 

Source: favtos. 


L 





PAGE 12 


INTERNATIONAL HERALD TRIBUNE, "WEDNESDAY; JULY 2, 1997 


THE AMERICAS 


Investor’s America 


The Dow 


30- Year T-Bond Yield 


8000 ^ 


7200 

680 ^v. 

6400 

; 6J0 



- 

! : 130 - - — - 


Anti-Depressant Makes Sunny Pitch to Public 


Exchange. - ■ index -'v " Tiasday. 


By Stuart Elliott 

New York Times Service 



W5to : y - i-Ai 


,NYSE « 

V 


£YSE- ' 






JUWSC 



Tbfionpr 




Sto Paulo 

. - Bo^apa; . •/. - 


JMqtOqr Botea 1 ;. 

me 

i3uroo9 Aires Metya; . 


Santiago ■' 

= AO****' ■»• 

57554 ^ v 

Cent***'; 

! : ce^Gtmta, :: 


Source; Bloomberg, Reuters 

hueraaiiiaul Herald Tribune 

Very briefly: 


NEW YORK — Remember 
when Johnny Mathis sang “When 
Sunny Gets Blue?*' The first cam- 
paign for Prozac to be aimed at 
consumers hopes to reverse that 
tune. 

The campaign, by Leo Burnett 
Co. in Chicago, uses such weather 

imagery as dark clouds giving way 
to bnght sunshine — from a sun that 
is somewhat evocative of the 1 970s 
“happy face'’ symbol that urged 
everyone to “Have a nice day” — 
to promote Prozac, the anti-de- 
pressant treatment that has come to 
symbolize how consumers in the 
1990s try to cure ills with pills. 

Until the campaign, which be- 
gins running in August issues of 
more than 20 magazines. Eli Lilly 
& Co., which brought out Prozac a 
decade ago, had advertised the 
brand solely to health care profes- 
sionals. 

Prozac joins a long list of 
products available only by prescrip- 
tion that are being advertised di- 


rectly to consumers as well as to 
doctors. Often an agency like Bur- 
nett, which works for such con- 
sumer marketers as Kellogg Co., 
McDonald's Corp. and Olds- 
mobile, lands the assignment to cre- 
ate such a campaign. 

“We’ve taken our tune,” said 
Alan Clark, president for U.S. op- 
erations at Lilly in Indianapolis, 
“assessing what it would take to do 
it properly.” 

“Burnett's expertise in being, 
able to connect with the general 
public will be helpful for us,” be 
added. 

While Prozac remains foe most 
popular anti-depressant in the 
United Slates, with sales totaling 
more than $1.7 billion last year, 
doctors have been increasingly 
writing prescriptions for such com- 
petitive brands as Zoloft, sold by 
Pfizer - Inc., and Paxil, from 
S mith TCI me Beecham PLC. 

The goal of the Proz- 
ac print campaign, 
with a budget estimat- 
ed at $15 million to $20 
million, is not to urge 


users of those drugs to switch Proz- 
ac by asking them to put on a happy 
face, look for the stiver lining or 
keep their sunny sides up. 

Rather, the ads, which cany foe 
cheery theme “Welcome borne,” 
are meant to stimulate demand for 
Prozac by urging people who are not 
being helped for. depression — or 
receiving less string medicine than 


they may need- — to seek treatment. 

“There has been lots of publicity 
about Prozac, but it hasn’t made the 
connection with foe kind of people 
Who need help,” Mr. dark said, 
“because there are still data, fairly 
compelling, showing that two out of 
three people in a depressed con- 
dition are not getting treatment. 

; “There are two messages here," 


he added. “Depression hurts. And 
there are options available, of which 
PKaacisone.” . . 

The ads will appear in suen 
pi figarlnes as Cosmopolitan* 

Ebony, Good Housekeeping. The 

Ladies’ Home Journal, Mane 
Claire. Men's Health and Sports Il- 
lustrated. The campaign is sched- 
uled to run three to six months. 


As Chip Prices Fall, Motorola to Leave D-RAM Business 

$170 million as a result of the decision. The comf^y 


Bloomberg News \ 

AUSTIN, Texas — Motorola Ioc. said Tuesday it 
would stop making dynamic random-access memory 
chips, or D-RAMS, by the end of foie year. 

The company decision to leave the money-losing 
business comes after prices for the chipsfell about 30 
percent in foe second quarter. The move also comes as 
Motorola struggles to hold on to its market share in the 
cellular-phone business. •; 

Motorola said it would take pretax charges of about 


wilfchance" foe”structure of its joint ventures with 
Toshiba Corp. and Siemens AG. Motorola’s part of the 
ventures will shift to more profitable chips such as 
microprocessors and integrated circuits. 

• Memory drips “have better profitability pictures 
than D-RAM, which has gotten very price sensitive and 
tough to make money in,” said Eric Buck, analyst at 
Donaldson, Lufkin & Jeurerte Securities Corp. In late 
trading, Motorola’s shares rose 87.5 cents to $77. 


Ruling Scraps Office Depot Deal 

DELRAY BEACH, Florida (Bloomberg) — Office Depot 
Inc. shares fell 20 percent Tuesday after a judge derailed its 
purchase by Staples Inc., prompting concern that the retailer 
will not be able to catch up with faster-growing rivals. 

A federal judge late Monday sided with the Federal Trade 
Commission, ruling that combining the two biggest office- 
supply retailers would hinder competition. The companies are 
expected to scrap the $4 billion deal. Office Depot shares fell 3 
13/16 to 15%, while shares in Staples rose 1 1/16 to 24 5/16. 

Viacom to Take Blockbuster Charge 

NEW YORK (Bloomberg) — Viacom Inc. said Tuesday 
that second-quarter results at Blockbuster Entertainment 
Group would be worse than analysts expected as Viacom 
struggled to improve the slow video rentals and sales that 
plague the unit. 

Viacom also plans to take $300 million in charges for 
overstocking in Blockbuster's stores. Viacom said Block- 
buster's second-quarter revenues would range from $880 
million to $900 million, below analysts’ estimates. Viacom A 
shares, which have fallen 1 7 percent in the last 12 trading days, 
rose 18.75 cents, to $29,625. 

• Westinghouse Electric Corp. and Microsoft Corp. denied 
a report mat Microsoft was exploring a bid to buy West- 
inghonse’s CBS broadcasting unit 

• Campbell Soup Co. named Dale Morrison, a former Pep- 
siCo lac. snack-food executive, as its chief executive, re- 
placing David Johnson, wbo will retire. 

• Lucent Technologies Inc sued Acer Inc, claiming that the 
personal-computer maker infringed on eight of Lucent's patents 
covering video technology and manufacturing inventions. 

• ConAgra Inc’s fourth-quarter earnings rose 15 percent, to 

$186.5 million, topping analysts' expectations, as increased 
profit from its refrigerated-foods unit offset declines in its 
food-ingredients division. Bloomberg. NYT 


Economic Basics 
Underpin Dollar 

Bloomberg News 

NEW YORK — The dollar rose against other major cur- 
rencies Tuesday as world leaders held a global video con- 
ference on European monetary union. 

Lawrence Summers, the U.S. deputy treasury secretary, 
said the dollar’s recent advance against European currencies 
reflects “the strength of economic fundamentals.” 

Speaking from Washington, Mr. Summers noted that foe 
U.S. budget deficit would continue to shrink this year, and that 

FOREIGN EXCHANGE 

economic and employment growth were strong, “without any 
significant inflation.” 

The dollar was at l .7463 Deutsche marks at 4 P.M.. up from 
1.7455 DM late Monday. 

Against other currencies, foe dollar rose to 114.900 yen 
from 1 14.655, to 5.8860 French francs from 5.8802 and to 
1.4660 Swiss francs from 1.4615. 

The pound slipped to $1.6587 from $1.6657. 

Mr. Sommers said the euro, Europe’s proposed single 
currency, would not replace foe dollar as foe world's reserve 
currency. While “there will be a change in financial pat- 
terns," he said, after foe euro is introduced, * 'foe dollar is in a 
very strong position.” 

u foe same conference, Hans Tietmeyer, the president of 
the Bundesbank, said the German central bank would “do 
everything” to ensure that the mark retained its strength, 
adding that its recent decline had reflected a “correction” of 
a surge two years ago. 

“I do not see a weak mark,” be said, “I see a strong 
dollar." 

"We will do everything so that the mark is as strong as it is,” 
Mr. Tietmeyer said, adding, “We want to transfer the current 
strength of the mark’' to a European common currency. 


A Stable Outlook for Rates Bolsters Stocks 


CimpOeil Ip Om Staff From Dapoorbes 

NEW YORK — Most major stock 
indexes rose Tuesday as economic re- 
ports led investors to believe interest 
rates would remain stable for now. 

Stocks followed bonds higher after a 
private manufacturing survey indicated 
to traders that foe Federal Reserve 
Board would decide not to raise interest 
rates Wednesday to cool the economy 
and curb inflation. 

The Dow Jones industrial average 
rose 49.54 points, to 7,722.33, as ad-, 
vancing issues outnumbered declining 
ones by a 4-ro-3 margin. 

The price of foe benchmark 30-year 
Treasury bond rose 20/32, to 98 20/32, 
as its yield fell to 6.73 percent from 6.78 
percent. Higher interest rates make it 
more expensive for companies to raise 
funds to invest in their businesses. 
Banks, whose profit margins widen as 
rates decline, led the galas Tuesday. 


The Standard & Poor’s 500-stock in- 
dex rose 5.89 points, to 891.03. Oil 
companies led foe index higher as crude 
oil prices rose above $20 a barrel for foe 
first tune in four weeks. Exxon, Mobil 
and Amoco all gained. 

Stock in McDonnell-Douglas rose 1 
to 6916, and Boeing rose 15/16 to 54 
after Boeing won clearance from U.S. 

US. STOCKS 

regulators for its $ 15 billion purchase of 
the aerospace and airplane company. 
The Federal Trade Commission ended 
its six-month review without imposing 
any conditions. 

The Nasdaq composite index, which 
is laden with computer-related compa- 
nies, fell 3.82 points, to 1 ,438.25, after a 
few companies in foe industry warned 
that profits this quarter would fail to 
meet expectations this quarter. 


Cyrix slid PA to 2044 after the semi- 
conductor company said it expected 
second-quarter sales to be significantly 
below foe $75.6 million reported in foe 
first quarter. Cyrix cited competition 
from Intel and weak demand. 

The rise in U.S. equities followed 
record-setting gains in France, Germany, 
Spain, Austria, Finland, Italy, Norway. 
Sweden, Ireland, Portugal and Russia. 

Many investors are worried that 
prices have risen too far in foe rally this 
year, and say prices need to fall. 

“We've had one of the most incred- 
ible rises in foe market that any of us 
have seen, and a great deal of over- 
valuation has crept in,” said Seth Glick- 
eahaus, foe chief investment officer at 
Glickenhaus & Co. who started on Wall 
Street five years after foe 1929 crash. 
“Money is still pouring in and will con- 
tinue to do so. but eventually there will 
be a comeuppance." (Bloomberg, AP) 


INVEST: U.S. Market Continues to Astound (When Will It Fall?) 


Continued from Page 1 

books. All the major stock indexes have 
set records this year. 

The Standard & Poor's index of 500 
stocks closed the quarter at 885.14 
points Monday, down 2.16 for foe day 
but just 13 points off its all-time high. 
And, while they trail the blue-chip av- 
erages, the Nasdaq composite and foe 
Russell 2000 index of small-company 
stocks have also set records. 

And foe Dow — foe most widely 
followed market indicator — has 
already set 28 new closing highs. In all of 
last year, it reached a new high 44 times 
on its way to a 26 percent gain. So far this 
year, the Dow is up 19 percent 

Of course, this year's gains have not 
come without volatility or a steep down- 
turn: The Dow has had 18 closings with 
moves of more than 100 points. Hie 
sharpest decline in more than six years 
— a four-week drop of 9.8 percent — 
ended April i I. 

But many investors continue to see 
stocks as foe best investment vehicle 
available, and keep pouring billions of 
dollars into mutual funds. 

Mutual-fund managers are talking 
these days about investors who say they 
are holding off on buying a dream house 
to invest in foe market, and others wbo 
expect nothing less than a 15 percent 
annual return. 

“There’s a quantum leap in expec- 
tations occurring here,' ’ said Robert Far- 
reli, a market analyst at Merrill Lynch & 
Co. “Usually when you get a market so 
convincing, the people who are not in 
find a way to buy into a market that’s 
already up a lot They find reasons why 
it’s going to go up a lot more.” 

And even while some on Wall Street 
warn about the dangers of expectii 
such outsized returns, a cadre of but" 


strategists now speak of a Dow at 8.250 
by year-end, a Dow at 10,000 by the year 
2000 — even a Dow at 15,000. 

Such euphoria has been fueled this 
year by what many consider an ideal 
economic environment, one character- 
ized by stronger-than-expected growth, 
lower-th an -expected inflationary pres- 
sure and high profit margins. 

Interest rates are also stable, and the 
rice of gold — traditionally seen as a 
indicator of coming inflation — has 
hit a four-year low. 

Thar bodes well for one of foe greatest 
bull markets in history, one whose 
longevity and explosive returns continue 


prict 

key: 


to astound even seasoned observers. 

In three years, for instance, the Dow 
has more than doubled, soaring 112 per- 
cent — an annual rate of better than 37 
percent, or three times foster than its 
historical average. 

But Mr. Farrell warns that serious 
trouble may lie ahead. Like the “pa 
bolic markets" of 1929 and 1987, he 
warned, foe current stock craze may be 
setting itself up for a steep falL 
“Those were foe markets that went up 
in a persistent, consistent and insistent 
basis,” he said. “You don’t know how 
high they will so, but they don'r go 
sideways when they end." 


TILT: What's Behind End-of- Quarter Moves? 


Continued from Page H 

day — so-called market-on-close orders 
— and the New York and American 
Stock Exchanges handle them by an- 
nouncing sizable order imbalances well 
before me close, hoping to draw in off- 
setting orders. For example, foe order 
imbalance in Coca-Cola on Monday 
showed a net of 911.000 shares to be 
sold. 

To foe extent that other buyers do not 
emerge to take those shares, it is up to 
foe exchange's specialist in that stock to 
buy foe shares. 

And while in some cases Monday, 
either the specialist or other buyers were 
willing to offset the imbalance — an 
imbalance of 278,000 shares to buy in 
Philip Mortis Cos. seems to have moved 
the price by just 6.25 cents — in other 
cases foe price was moved substantially. 

Specialists are greeted in part on how 
well they avoid market disruptions, 
which gives them an incentive to step up 


and take shares without moving the 
price very much. In some cases, traders 
who want to buy or sell large blocks may 
put them in as market-on-close orders, 
hoping that foe orders will be seen as 
related to some index arbitrage activity, 
rather fo an as a trade based on fun- 
damentals. 

When foe specialist gets the price 
wrong on foe final trade — when it is too 
high or too low for foe real state of the 
market — foe stock can be expected to 
retrace at least part of the distance in 
coming sessions. Coca-Cola added 50 
cents in later trading on the Pacific 
Stock Exchange on Monday to close at 
$68 on foe consolidated tape, which is 
the price that most newspapers print. 

A money manager who manages to 
make his or her performance look better 
than it would have, by dint of such a 
move, is likely to start foe new quarter in 
a hole as foe artificial price moves are 
retraced. But foot manager will have 
three months to get out or that hole. 


1 $ •” 

v: j 

r* i 
t." 

t 

i'iflS 




At the latest count, in our 1996 
Reader Survey you tell us that in a year 
you spend over 16 minio n nights in 
hotels. 

Time well spent, we're sure. Just 
like the informative half hour of your 
day you spend keeping in touch via 
your EHT 

For summaries of the surveys from 
which these lads are taken, please cadi, 
in Europe, James McLeod on (33) 1 
41 43 93 81; in Asia, Andrew Thomas., 
on (65) 223 6478; in the Amenea&P- 
Richard Lynch on (212) 752 3890. 


1 1 .. 




I . ; 

ft 

% 1 


i 



THE WORLD’S 
DAILY NEWSPAPER 


iff 

i: 

n 


f. ■; 


; . 

I**—,*. .*■ 

v \ - 

I'-L-lSt-v 









Bus 






INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 

ASIA/PACIFIC 



PAGE 13 


ed a Net Address? Just Click on Tonga’s Site 


w e 

the, 


They just did not know about the 
names ending in “.to." That is 
•'.to” as in the first two letters of 
does not have a lot of Tonga. These addresses are now for 
natural resources among sale, at $1 00 apiece. Thus, while the 
•tinv islands that make up the address amazon.com is already 
:Pacific country. TTiere are taken, amazon. to is available. 


r Elizabeth Corcoran 

Wustringhm Pun Sen lit 


fandi 


bout 600 computers in the 
nation — one for about eveiy 
pie. 

Tonga does have an unlim- 
itfiumber of Internet addresses. 
:osr of them are op for sale, 
r the past three years, enthu- 
for the Internet has ignited a 
battleover ‘'domain names,” 
ords that appear to the right of 
at" symbol in such addresses 
' ‘youmahifi@company.com.' ’ 
more than 1 million names 
idy claimed at the United 
•s’ Interfile registry, run by 
ork Solutions Inc., some 
lie have fretted that the hippest 
sses are tkken. 




Eveiy country has a right to do- 
mains in cyberspace. For example, 
Austria has names ending in “.at” 
and the Congo Republic has names 
ending in “zr, for its fanner 
name, Zaire. 

Each country can make- up its own 
rules about who -can use its name. 
Many countries cling to geography 
and insist that only organizations or 
people who have at least a toe on 
their own soil can use their ad- 
dress. 

Crown Prince Ttipouto’a has no 
such requirement Last week a San 
Francisco company called Tonic 
Corp. opened up a Web site that 
offers Internet names — ending in 


“.to" — to anyone willing to pay 
the $100 registration fee. 

Tonic was started by -Eric Gul- 
Uchsen, a longtime Silicon Valley 

CYBERSCAPE 

entrepreneur, and Erie Lyons, 
former director of research for 
Autodesk Inc., a software graphics 
company based in Sausalito, Cali- 
fornia. Both have vacationed in 
Tonga. A few years ago, Mr. Gul- 
iichsen met the prince and became 
the official computer consultant to 
the kingdom. 

Late last year the prince decided 
Tonga needed its own Internet con- 
nection. Mr. Gullichsen and Mr. Ly- 
ons won the contract, and by Janu- 
ary Tonga was on-line. The two 
consultants also realized that they 
had a well of Internet addresses lit- 
erally at their fingertips, with the 
“.to" suffix. 


“When the- prince visited San 
Francisco in April, the Internet do- 
main name imbroglio was under 
way,” Mr. Lyons said, referring to 
controversy over Network Solu- 
tions' handling of domain names. 
The company has had a monopoly 
on registering several domain 
names, like “.com-" Some people 
complained that the company's 
policies for awarding names were 
inconsistent. Others were unhappy 
when Network Solutions an- 
nounced it would charge a $100 
registration fee for eveiy name. 

“We said, 'Hey, two can play at 
this,’ " Mr. Lyons said. “And the 
prince thought it was a great idea.” 

The prince, who is the majority 
shareholder in Tonic, collects most 
of the registration fee. Mr. Lyons 
and Mr. Gullichsen said they were 
earning “finders' fees." 

Tonga is not die only country that 
is willing to sell an address. Some 


make the price very high for non- 
citizens. Others have a lengthy ap- 
plication process. 

But the family of Prince 
Tupouto'a is savvy about Tonga's 
technological prospects. A few 
years ago, the country seized control 
of its fust satellite slots, a valuable 
commodity to anyone parking a 
fixed satellite spot above Earth. It 
now has seven slots, which the 
prince’s sister. Princess Salote 
Pilolevu Tuita, leases out. 

To make “.to" addresses appeal- 
ing, Mr. Gullichsen and Mr. Lyons 
have made getting one as easy as 
surfing the Web. The Tonic site 
(www.tonic.to) features a page 
where any “.to” hopeful can type in 
a desired address. Tonic will re- 
spond as to whether the address has 
already been claimed. 


• Other recent technology articles: 
hrtp.J/u n w iht. comUHTfTECHf 


Investor’s Asia 


; 17D00 

: 16000 

•15000’ 



Singapore .7; 

’.'2250 1 

2200 

* 2150 — 1 
« 2100 
: 2050 — 

: m - - 


Tokyo . 
NiJttei22S 


F M A 
1987 


M J J ; 1950 F 



Export Surge Halts 
Seoul Trade Deficit 

I June Surplus Is First Since 1994 

CitiptM K Out Stuff Fmm Daftarbn 

SEOUL — South Korea 
reported Monday a trade sur- 
plus for June, the first since 
December 1 994, a turnaround 
that some analysts say signals 
that the economy is poised to 
rebound after four years of 
declining growth. 

The $98 million surplus 
was fueled by surging exports 
of semiconductors, petro- 
chemicals, automobiles and 
steel products, the govern- 
ment said. 

Last year. South Korea re- 
corded a deficit of $426 mil- 
lion for June. 

Exports rose 9.2 percent to 
a record high of S 12.35 bil- 
lion, the Ministry of Trade, 

Industry and Energy said, 
while imports climbed 4.4 
percent to $12.25 billion. 

Analysts said exports were 
lifted by the yen's rise against 
the dollar during the last few 
months. A stronger yen helps 
South Korean exports by 
pushing up the prices of ex- 
ports from Japan, South 
Korea's largest industrial 
competitor. 

“Korea's exports will con- 



Ipdas '■ >. 

■Tuesday- Frev^ ' % 

• ->-v •• 


Gtese. . .. Ctow-'v - Change 


HEB^.Seng'r . : . 

.. iSAj&ra 

*S6jg3p ora';. 


LftW J28 f, 987.95 "-0.34 


#JS . 

" JO;. : Si72£8G . .4J1T 


BnimPlMH 



-.1,07850. ..1,077^3 4^.15 


:£tsr- 

W A r MBIlfn 

Seoul /■' ■ 





■ : wt> 




; p»Sj#a;tedex- 


^egtngtor* 

f^lil 



m S12SB 

/dosed: \;a& gw- \j 

Source: Telekurs 


InKTTUlimul W-rald Tnhoof 

Very briefly: 


tinue to be strong in coming 
months as the yen’s recent 
surge against the dollar takes 
effect later this year,” said 
Kwak Young Hoon, a Dong- 
suh Economic Research In- 
stitute economist. 

The trade figures helped 
drive up the benchmark index 
on the Korea Stock Exchange 
by 1.7 percent, which closed 
at 758.030. 

Pohang Iron & Steel Co., 
Samsung Electronics Co. and 
other large exporters paced 
the gain. 

“Until yesterday," a Cho 
Hung Securities dealer said, 
“everybody was betting on 
more consolidation. But in- 
vestor sentiment turned 
around on the news of the 
June trade surplus." 

Trade officials said South 
Korea would be able to hold 
the trade deficit for the full 
year to $14 billion. 

* 'It’s too early to talk about 
a full recovery in exports.” 
one ministry official said, 
"but it seems certain that ex- 
ports are on track towards a 
recovery." 

(AFP, Bloomberg) 


• Japan’s domestic sales of new cars, trucks and buses fell for 
the third consecutive month in June but foreign demand was 
expected to keep assembly lines busy until at least the fall. 
Domestic sales fell S percent in June compared with the same 
month a year earlier to 419,059 vehicles. 

■ British Telecommunications PLC and MCI Communi- 
cations Corp. are looking for Japanese partners to expand their 
share of Japan's $90 billion telecommunications marker. 

• Nippon Credit Bank Ltd. will close all of its overseas 
operations by November as pan of a restructuring plan. 

• Reed Hundt, chairman of the U.S. Federal Commu- 
nications Commission, said Japan's interconnection charges 
were “at record levels” compared with other countries. 

• Telekom Malaysia Bhd. will form Meganet Commu- 
nications Sdn., a joint venture with Japan’s Nippon Tele- 
phone & Telegraph Corp., to provide engineering works and 
services for office buildings and other projects. 

• Coca-Cola Amatil Ltd. of Australia's shareholders ap- 
proved a stock-swap agreement with San Miguel Corp. of the 
Philippines valued at about 3.4 billion Australian dollars 
($2.53 billion), creating the largest Coca-Cola bottler outside 
the United States. 

• Nippon Telegraph & Telephone Corp.’s pretax profit 
from private local calls more than doubled, to 1 86.6 billion 
yen ($1.63 billion), in the year ended in March, thanks to a 
boom in mobile- phone usage. 

• Hyundai Motor Co., South Korea's largest automaker, said 
sales in June rose 8 percent compared with the year-earlier 
period to 11SJ64 vehicles, thanks ro a 42 percent gain in 
exports. Domestic sales fell 14 percent. 

• PT Garuda Indonesia, plans an initial public offering next 
year. The airline said it expected its net profit to rise 147.63 
percent, to 308.8 billion rupiah t$126.9 million), in 1997. 

• Independent Newspapers Ltd. of New Zealand, which is 

controlled by News Corp., is negotiating to buy 5 1 percent of 
the country’s largest pay-television operator. Sky Network 
Television Ltd. BltHtmberg. Renters 




:mv 


C& W Seeks Control of Australia Phone Firm 


ConipUni by Our Staff Frrm Disfutihrs 

SYDNEY — Cable & Wireless PLC 
said Tuesday that it was seeking control 
of Optus Communications Pty., Aus- 
tralia's second-biggest phone company. 

The British telecommunications com- 
y said it would pay the BellSouth 
980 million Australian dollars 
($750.1 million) for its 24.5 percent 
stake in Optus, and. in exchange, give 
the U.S. regional phone company a 22.3 
percent stake in OcceL a mobile-phone 
operator in western Colombia. 

Cable & Wireless already has a 24.5 
percent stake in Optus, and the Bell- 
South stake will give it 49 percent of the 
company. Cable & Wireless said it 
would seek permission from the Aus- 
tralian government to raise its stake to 
51.5 percent to gain control. Under Aus- 
tralian foreign ownership rules, it can 
only own 49 percent. 


"This enhances the strategic value of 
Cable & Wireless,” said Andrew Har- 
rington. a telecommunications analyst at 
Salomon Brothers International Ltd. in 
London, “because they'll be able to de- 
liver to a global carrier effective control 
of two out of three major Asian hubs." 

Cable & Wireless owns 57.5 percent 
of Hong Kong Telecommunications 
Ltd., but it plans to sell a 5 J percent 
stake to China Telecom. 

The British company also owns 30 
percent of a mobile-phone operator in 
Singapore. 

“We have decided to dig our roots 
deeper in Australia," said Chief Ex- 
ecutive Richard Brown said, “where we 
can offer our customers a frill range of 
integrated services, and to plan an exit 
from a dilutive wireless business in 
Colombia, where we cannot " 

Cable & Wireless wants to develop 


businesses that offer a broad range of 
services, 

Optus, which began operating in 
1992, has an 18 percent snare of the 
Australian long-distance market and 
serves 32 percent of mobile-telephone 
users. It reported a pretax profit for last 
year of 60 million Australian dollars on 
sales of 1 .9 billion Australian dollars. 

Accepting Cable & Wireless’s offer 
was difficult, said the president of Bell- 
South International, Charles Miller. But 
for Optus to succeed, he said, it needs the 
swift and clear decision-making that can 
be achieved only with a single telecom- 
munications shareholder in controL 

“Given the respective strategies of 
BellSouth and Cable & Wireless," he 
said, "we concluded that exiting Aus- 
tralia and further focusing BellSouth *s 
efforts in other countries was the best 
solution for ah." (Bloomberg, AFP, APl 




Inter 
A 

| ,*What is E-Funds? 

■ E-Funds is a service that 
interest you. These updat 

$How do I subscribe? 

.To add a fund group, sen 
■SUBSCRIBE Mowed by 
you would ripe SUBSCRI 


unds ffci E^toaiL 

jrvice for IHT read® 


|TW to 
t ddivered 


-trail m 
in) code. 


ipdatcs 
'toyoi 

fo Vfundstgil 
pie, to 


fmternatH 
box daily| 

- in the b? 
to the Glol 


itM unii. i 

^ fHie fund codes appear next to the funds 


Funds page pf the fflT). minutes, your suhsAtion will be 


id groups that 


[the message, type 
; Management fund, 
i the International 
[you wifi begin to receive 



! daily updates on the fund. 

J3tHow many funds may I subscribe tof^ 

' ~ You jpav subscribe to as many finds as you like, but you must send an individual SUBSCRIBE message for 
. each fund Receive a full list qf^ds codes on the IHT Intcmati^giJWls page, or by sending an Mnail 

. : message “ the bod >’ of 

:>SWhatmiist' I pav? ' . . , n™ , 

" There is no 4 for subscribing E-Funds. This is a reader service feature for IHT readers. 

Brought to you $j collaboration with NOKIA 
Follow gpur funds 


, #a the 



THE WORLD'S D.V1LY NEWSPAPER 


SIA and Pratt & Whitney Plan Engine Venture 


Reuters 

SINGAPORE — Singapore Airlines 
Ltd. and Pratt & Whitney said Tuesday 
that they were forming a joint venture 
engine-overhaul company to tap oppor- 
tunities in the Asia-Pacific region. 

Pratt & Whitney, a unit of United 
Technologies Coro., will own 5 1 percent 
of ihe venture and SIA Engineering Co., 
a wholly owned subsidiary of Singapore 
Airlines, will hold the balance. 

The initial focus of the joint venture 
would be the PW-4000, JT-9D and the 
CFM-56 engines, all which are now used 


in the Singapore Airlines fleet. 

The venture would be Pratt & Whit- 
ney's sole overhaul facility’ for the Asia- 
Pacific region and the Indian subcon- 
tinent, said James Taiclet. vice president 
of the company's Eagle Services unit. 

Mr. Taiclet said die venture would 
effectively double the company’s over- 
haul revenue. 

“We expect over $200 million in rev- 
enues a year in 1998." he said, “and by 
1999, it would be up to $300 million." 

Chief Executive Robert Tan of SIA 
Engineering said the venture would give 


his company access to the most ad- 
vanced technology in the overhaul busi- 
ness. SIA Engineering's annual sales, 
which will be transferred into the ven- 
ture, are about $185 million. 

Initially, Singapore Airlines will con- 
tribute about two-thirds of the joint ven- 
ture ’s business but that is expected to fall 
to half as business from other airlines 
increases. 

Mr. Taiclet said the Asia-Pacific over- 
haul market for the three engines ini- 
tially covered by the venture was worth 
about $600 million a year. 


CURRENCY & CAPITAL 
MARKET SERVICES 


SOVEREIGN 
(FOREX) LTD. 

SWISS BROKERHOUSE 

n8. Rue du Rhflne, 

1204 Cenive 

24 HOURS FOREX DESK 

• Interbank Conditions 
» No Commission 

• Capital Return Guarantee 

• Higher Return on Investment 

• Daily Market Comment 

• Individual Credit Line 
* 20 Years Experience 

- Confidentiality Guaranteed 
According to Swiss Law 

Inquiries: 

Phone: ++41 12 14 6322 
Fax: ++ 41 41 728 0809 


PHOTOS: Striking Gold in Electronic Recycling 


Continued from Page 11 

Hoffenberg, a Lyra analyst, 
“the potential is huge.'* 

The paper that an ink-jet 
printer needs to make a dur- 
able photo sells for about $15 
for 10 of the 8V4-by-ll-inch 
(22-by-28-centimeter) 
sheets. A photo also requires 
five to six times the amount of 
ink needed to print a spread- 
sheet, and ink cartridges cost 
up to $40. 

The potential is not lost on 
printer companies. 

“The more people use our 
printers for anything, the 
more consumables they are 
going to buy,” said Jeffrey 
Mandell. an Epson marketing 
director. 

Home users bought $79 
million worth of ink and $39 
million worth of photo-based 
paper last year. Lyra says, and 
it forecasts that this year ink 
sales will reach $221 million 
and paper sales $52 million, 
and to go to $460 million in 


ink and $ 106 million in paper 
by 2001. 

That is one reason prices of 
home-use ink-jet printers, 
which now rarely top $499, 
keep dropping, saia David 
Rocheleau, another Lyra ana- 
lyst. 

"The companies will take 
low margins on printers be- 
cause they make so much on 
the supplies," he said. “It’s 
the razor blade theory: Sell 
the razors cheap, and make 
the money on the blades." 

Not surprisingly, manufac- 
turers are pulling out all stops 
to get those razors sold. 

Last week, Hewlett-Pack- 
ard held a huge party in New 
York City to introduce its 
electronic photo-finishing 
system. 

Lexmark International 
Group, which makes only 
printers, commissioned four 
photographers to print out 
their work on a Lexmark 
printer, then displayed the 
photographic “art" in galler- 


ies in New York and Canada. 

“People won’t buy a new 
printer just to reprint old pho- 
tos, but that capability could 
help them decide what printer 
to buy," said Paul Rooke, a 
vice president at Lexmark, 
which now bundles phoio- 
roanipulation software with 
its maters. 

The hard sell continues at 
the store level. Kodak and 
Kmart Corp. recently look out 
full-page ads in 1.300 news- 
papers to entice consumers to 
recycle old photos on 
Kmart’s self-service Kodak 
machines. 

Kodak and Xerox have 
both given copier and photo- 
finishing stores mailing in- 
serts and displays that exroi 
ways to get new life from old 
photographs. 

Just as important, they are 
training clerks to suggest 
more complicated applica- 
tions — say. creating a cus- 
tomized calendar or an illus- 
trated family tree. 




1 











































































































INTERNATIONAL HERALD TKIBLWE, WTDIVESDAJ; JULY 2, 1997 


EUROPE 



RAGE 15 


erge 

th Rival 


Noway Drugmaker 
Ernsts Amersham 

•nifflrJ In Ow Sug Front D/sfXBTlm 

>N — Nycomed ASA 
uesdav that it would merge 
lersham International PLC 
9 billion transaction to form a 
-Norwegian company to 
te in the expanding global 
-care industry. 

transaction, which includes 
million in assumed debt, will 
crfe a bioscience and diagnostics 
cQpany called- Nycomed Amer- 
sljo PLC with annual sales of about 
£i billion (S2.50 billion } and a mar- 
capitalization of £1.8 billion. 

‘It's great news for Nycomed," 
sjfl Stewart Adkins of Lehman 
E>thers. "This gives Nycomed 
holders the opportunity to sell 
if. nice premium. It’s more difficult 
jw to envisage Amersham’s future 
rpwth because they are merging 
Hirh a company with a difficult 
ofit outlook." 

.'Nycomed share jumped 25 
-onor, or 3 percent, to 133 kroner 
>18.16). while stjares in Amersham 
jse 87.5 pence; or 5 percent, to 
,682.5 pence. 

Nycomed, a Norwegian drug 
iiompany that wa » spun off in May 
jl 996 as pan of th t breakup of Hafs- 
fund Nycomed VSA, has seen a 
Steady decline in earnings in the last 
tew years, with j retax profit before 
restructuring colts falling 31 per- 
cent, to 1.17 billon kroner in 1996 
kroner in 1995. 
s 1996 operating 
64 million greater 
s £90 million. As a 
shareholders will 
stake in the corn- 
while investors in 
cal-products maker 
will get 47 penfent. 

"It’s a very positive deal,” said 
Ian White of Robert Fleming Se- 
curities. 4 ‘It’s aping to make tbe new 
company the world leader in in-vivo 
diagnostics." on- vivo technology 
enhances images obtained during X- 
rays or magnelc resonance imaging 
scans. I 

Chairman Jphan Predrik Odfjell 
of Nycomed ms been named chair- 
man^designatj of the combined 
company whle his counterpart at 
Amersham. Re hard Lap [home, will 
become deput chairman. 

The deal follows Amers ham's 
agreement 1st month to acquire 
Pharmacia M.Ipjohn Inc.’s biotech- 
nology divis In. which allowed it to 
become the grid's largest supplier 
of basic biospence research. 

(Bloomberg. Reuters ) 


.from 1.69. billi 
, But Nycomi 
i profit was abou 
' than Amersh 
result, Nycom 
get a 53 perce: 
bined compan 
the British mi 


Can Europe’s Approach Create Jobs? 

Quick and Easy Fixes Doomed to Failure, Economists Say 


By Joseph Fitchett 

International Herald Tribune 


BONN — Rejecting the American path to job 
creation as too rocky a road for their societies, 
European leaders are touting their own ap- 
proaches. These include proposals such as 
work-sharing through shorter hours, early re- 
tirement and job tr ainin g, 

But as attractive as they may seem, these 
gentler-sounding measures have a downside, 
according to leading labor economists from 
Europe and the United States: They have never, 
in practice, created employment — and they are 
unlikely ever to do so. 

The proposed remedies could even aggravate 
the affliction they are trying to relieve by di- 
verting European governments away from what 
specialists call the only durable source of jobs: 
a broad-based campaign to spur growth rather 
than quick fixes. 

"Fundamentally," said Gary Becker, a No- 
bel laureate from the University of Chicago, 
"most of these nostrums stem from a fallacy: 
that there is only a finite amount of work, so it's 
better to share it out." 

His skepticism about the value of quick, po- 
litically palatable fixes was echoed by a score of 
economists at a conference on labor markets this 
month in Bonn under the auspices of the Ger- 
man-American Academic Council Foundation. 

Few participants were ready to match Mr. 
Becker — a prominent Chicago-school free mar- 
keteer and an unabashed advocate of Reago- 
notnics — in trumpeting claims that tbe United 
States had somehow “won the war" on un- 
employment. Most spumed quasi-ideological 
boasts of the son that lea to trans-Atlantic friction 
at the recent Denver economic summit meeting. 

"Neither Europe nor the United States," said 
Richard Freeman of Harvard University, "has 
found work for less-skilled manual men in the 
post-industrial economy nor managed to 
provide social protection without running up 
large government deficits." 

Whereas in Europe there has been a con- 
sistent trend toward higher wages for those with 
jobs and the safeguarding of enough benefits for 
those without jobs to maintain social cohesion, 
many Americans are seeing their earning power 
improve, sometimes spectacularly, while re- 
lying on big, costly law enforcement agencies 
to cope with anger in the underclass. 


This "incarceration factor" is often omitted 
in presentations of the U.S. economy because 
official unemployment statistics take no ac- 
count of working-age men out of work because 
they are in prison or on parole. Tbe 1.5 million 
incarcerated men and the 8.1 million on parole 
represent nearly 10 percent of the male work 
force; they account for almost one-third of all 
black high-school dropouts. 

Including these numbers, adjusted for those 
parolees with jobs, would lift the U.S. jobless rate 
of about 5 percent into double digits — within 
range of the 12 percent European Union rate. 

‘ Tt is clear that many American men choose 
crime over work," Mr. Freeman said, "even 
though they are likely to spend considerable 
time locked up." 


“If the French want to work less 
hours, that’s their business. But 
they should not expect it to 
cure 12 percent unemployment/ 

Governments in Western Europe, which has 
only a tenth as much crime as the United States, 
view strong social protection and tranquillity in 
the streets as a cultural imperative. "Jrs pan of 
their concept of security," said an American 
participant at the conference. 

It is a rational choice, he added, "if Germans 
want to eat home-cooked meals prepared by 
their wives instead of going to a nearby fast- 
food place. "But mom in the kitchen also means 
fewer jobs in the restaurant and hotel sector — 
15 percent of U.S. employment. 

Tbe Germans school system sends pupils 
home at noon, guaranteeing that mothers stay at 
home and are ‘ 'guaranteed being kept out of the 
work force." Mr. Becker said. 

Zn contrast, the U.S. job marker has ac- 
commodated large growth in demand for jobs as 
the population has grown, with a larger pro- 
portion of women, immigrants and refugees 
entering the job market than in Europe. 

Growth in tbe United States creates jobs, 
which in turn fuels new demand that in turn 
spawns new job openings. 

“It’s as much as mystery as it is a miracle," 
a U.S. participant said In contrast, Europe has 


suffered a net loss of jobs as its population 
declined, with women staying home and 
refugees being turned away at the borders. 

Europeans, largely for cultural reasons, seem 
to like it that way. said a German politician who 
asked that he not be identified, because they 
oppose the upheaval entailed by more open 
competition. 

As a result, the subject of jobs is "notoriously 
subject to political manipulation." said Fritz 
Schaipf , a Cologne-based researcher, who noted 
that the Conservative Party inBritain had altered 
unemployment definitions more than 30 times, 
each time reducing the number of jobless. 

Similarly, misguided ideas for solutions often 
have long half-lives because Europe has failed 
to develop "an evaluation culture 4, testing the 
results of employment initiatives, according to 
Michael Lechner of Mannheim University. 

Work-sharing is a glaring case. The optimistic 
view of work-sharing says that if the work hours 
of employees are reduced by, say, 10 percent, 
employment should rise by 10 percent. 

But the evidence shows that work-sharing 
tends to reduce employment, not increase it, 
according to Jennifer Hum of Yale University. 
Employers find the system inefficient and com- 
pensate by cutting costs — including payrolls. 

Similar ideas — such as early retirement to 
open up jobs — will not succeed without real 
economic pain, economists said. Jr is a cultural 
choice, a German conference participant said. 

"If the French want to work less hours by 
reducing the normal work week to 34 hours," 
he said, "that's their business. But they should 
see it as a choice of leisure and not expect it to be 
a cure for a 12 percent unemployment rate." 

The economists said some misconceptions 
are perpetuated by a misunderstanding of the 
Dutch economy, which has become a European 
model by raising employment to U.S. levels 
while cutting government deficits. 

The Netherlands has a high employment rate 
because many people have accepted part-time 
jobs. But the conference panic ipants said these 
are laigely low-paying jobs, many of them in 
private companies thar the government hires to 
provide health and other local services. 

Economists also questioned whether the high 
taxes in the Netherlands would eventually drive 
away entrepreneurs and investment capital — 
both of which are increasingly mobile in Europe 
and crucial io growth. 


Bloomberg Sews 

PARIS — Air France’s largest 
pilot union said Tuesday that it had 
asked the Air Line Pilots Associ- 
ation of the United States to deter- 
mine whether cost cuts demanded 
by the airline’s management are rea- 
sonable. 

TbeNational AirlinePiJots Union 
said it had chosen the American 
union after Air France agreed to a 
double audit of expenses. The car- 
rier is seeking to bring costs in. line 
with its European rivals. 


The chairman of Air France. 
Christian Blanc, will choose one 
auditor, and the Ftench union, 
which represents 80 percent of tbe 
state-owned airline's pilots, will se- 
lect the other. 

John Mazor, a spokesman for the 
American union, said pilots from 
other European airlines, includin; 
Aer Lingus Group and KLM Roy; 
Dutch Airlines NV, had asked the 
association for similar services. 

"Employees at die various Euro- 
pean airlines are becoming more con- 


cerned about what’s in store for diem 
because they are undergoing various 
kinds of changes in the market- 
place,’ ' Mr. Mazor said. "In the U.S.. 
we went through our own market 
deregulation beginning in 1978." 

Christian Paris, a spokesman for 
the French union, said the American 
union bad not officially been en- 
gaged; that should happen next 
week, he said. 

Air France declined to comment 

Mr. Blanc's efforts to get unions 
to accept changes in work and pay 


Air France Pilots Turn to U.S. Union for Help 


rules have been complicated by ef- 
forts to merge the work force oi Air 
Ranee and the former Air Inter, 
whose pilots are better paid than 
their counterparts at Air France. 

Pilots at Air Inter, the domestic 
arm of the Air France group that 
now markets its services as Air 
France Europe and Air Inter Europe, 
have staged several strikes ro protest 
proposed pay cuts. 

Pilots at Air France went on strike 
in May after management approved 
a two-tier pay system. 


Investor’s Asia 


Hong Kong 
Hang Seng 
17000 


■ Singapore 
Straits Times 


Tokyo 
Nikkei 225 



F M A M J J 
1997 


F M A M J J 1,000 F M A M J J 


1997 


1997 


ExbhaigB. 

‘ . Index V. 

Tuesday 

Dose 

Prev. ' %. . 
Dose Change 


■ ■HangSeng 

Dosed- 

15,196.79 

- 

Sthgapore 

Strafe Times 

1,981*2 B 

1,887.95 

.-0^4 

; OyQHCy - • • 

AU. Ordinaries 

X721J2Q 

■2725.80 

-0.17 


Nfl(tei225 

20,175,52. .20,604.96 

.-2.08 

; Kuaifftijmpu r .Composite 

1^078J9Q 

1^.30: 

.+0.15 

Sang*?* 

.SET, 

Closed 

■527.28. 

•» 

Sooul'.. 

Composite Index 

75K03 

745.40 

+1.89 

•Taipei' 

Stock MasXetlridex Closed 

9/jso^sa 


Sfenfla 

PSE 

2,815.54 

Z8D9& 

+0423 

Jakarta . 

Composite Index 

731.62 

724.56 

i+0.97 

wefflngton 

NZS'E-40 

2,490.86 

2^01^6 

■0..44 

Bombay 

Sensitive Index 

Closed 

4^58.09 

- 

Source: Talehurs 


inu'nuxxiuil Herald TnN.ui* 

Very briefly: 


• A British court will decide Friday whether to appoint a judge 
to hear a case broughr by 47 people with lung cancer ihat could 
lead to compensation payments by British tobacco companies. 

• British manufacturers chalked up their 13th successive 
month of growth in June. The Chartered Institute of Pur- 
chasing Supply's index slid to 53.4 from 54.4 in May as the 
pace of manufacturing growth eased last month, but any 
reading above 50 indicates the sector is expanding. 

• France and Britain are prepared to extend Eurotunnel’s 
right to operate the channel tunnel if the company pays them a 
share of its profit after the current lease runs our in 2052. 
according to the Finance Ministry in Paris. The governments 
want to extend the lease by "at least" 99 years, it said. 

• The European Union will appeal a ruling by the World 
Trade Organization that it must end its ban on imports of 
beef treated with growth hormones. 

• West German workers cost more ro employ than any others in 
the world. The IW research institute said west German workers 
cost on average 47.28 Deutsche marks (S27.ll! an hour. 57 
percent more than the average in the industrialized world. 

• Bertelsmann AG will sell 20 percent of iis television unit to 
the a fellow German publishing company. WAZ. 

• Arianespace named Jean-Marie Luron, director-general of 
the European Space Agency since 1990. as its new chief. 

•Continental AG said an agreement with workers and cost cuts 
at the company’s flagship factory near Hannover would reduce 
annual costs by 35 million DM. Blonmherg. Hmteis. afp 


Bonn Checks Deutsche Telekom 


Renters 

BONN — The German government ruled Tuesday in 
favor of Deutsche Telekom AG’s rivals, ordering the 
phone monopoly to provide an offer to its competitors for 
so-called unbundled interconnection by July 14. 

The decision came as a result of a regulatory complaint 
r, O.Tel.O — the joint venture of 
logni 

earner. All charged that Telekom was not offering 


by Mannesman^ Arcor. U. i'el.U — toe jo 
RWE AG and VEBA AG — and NetCologne, a city 

full 


access for rivals to its local networks. 


WORLD STOCK MARKETS 


TUes 

Prices t 


, July 1 

I currencies. 
t urs 

Low Clow Prev. 


High Low Close Pro*. 

AdMot 194 191 193 193 SBIt 

AMntz Hdfl 369 36S 369 365 TlgerOate 

Mono 189.50 187 JO 187.88 I860 

61 Baffin 36.90 36.65 3645 3 *50 

BASF 6640 6532 6*06 U45 

Borer Hypo B1 5245 51.95 52.29 52.15 


High Low Close Pm. 

SA Breweries 160 13875 139 JS 13975 Scot Power 

Sum anew 45 45 4530 *5.50 Seairtcw 

Sasal 59.50 59 59 JO 59 JO Severn Trent 

223 223 223 223 Sbef TronspR 

B1 BO 80 00 Stab* 

Smflti Nephew 
MiNMOhtt 
Smiths bid 

■ . — SlhemBec 


Amsterc 


iHSMI & 


7J0 3660 37.10 3660 
>9 JO 13760 138.50 137 rrtnnl _ 

167 165. B0 1&6J0 1(660 
260 270J0 272 269 

?4» 132 136.99 732 

r.90 37.40 37.70 37.70 


Commerzbank 
Daimler Ban 


9230 Si)_W 07-20 90 

40 39.99 39.99 40 AMMB Hrigs 

14*5 141S 1419 1443 Gaffing 

164 164 164 161 Mol Banking 

49 JO 49.10 «.15 4940 Mai Irffi Ship F 

1£2> ’fl-a ’£hS PehwwGM 
92J0 91J8 9170 9230 Proton 


Previous: 107730 Tnle&Lyte 
Tosca 

Thames Water 


S&PffiMmKiSS MwS? 1 ■'£« US ’SK* 101 S at 

nub I at to aiS DrwdnerBonk 61.25 60*0 61.2S 6030 Wood 


« » 99 JO 3900 3900 nwmUB 362 jay J*uu JOU KODHMIW KM 

M B B4D FhraaiiusMetf 7J370 15220 T52J0 154 SlmeDartw 

6250 62-JO o320 62*0 ™ J5 S2 qS Telekom Hoi 

A*an ajji /.pa / j 70 Gefto 121 11960 119-SO 119 Tcraao 

102 100.10 10020 10140 ’S-S 'otS ’otto ’Sn “’ 


, 343 339 343 335 HKSpi"" 

I noja iff? jo noja i09xa 

IlfcVJO 1*7 169 167 2555 - 

91 JO 9030 9TJ0 9050 

6130 6020 6030 60 JO 

45.10 44.60 45 44.18 

7SUP 77.70 77JSS 77 

57 U 5&JQ 56.70 54J0 

313 30920 313 310 

. 754 249.70 252 253.20 

PtnbreElec I 14150 137.10 13720 14160 

- ' I I 106 £9 10468 10560 103 

I Kef 109.00 20650 309.10 .207 p-.^. 

Roma | 1B6 JO ibsjbj 185.90 ibsjo 

6428 MSB 64. ID 6550 

189.10 189.10 189.10 18&20 

11JS> 11420 11660 11370 

ttmatOuKti 107 1042 106.7 476 

udteverod 473.40 41820 423 JO 41320 


YTV 


L ittle 
Lufthansa 
MAN 

Mannesmcmn 


98 JO 97.10 9740 99 

478 468 475 465 

7? 77 78.70 78 

7860 76.45 7830 73.98 ■ — 

637 629 635 621 I nnrinn 

78.70 78J0 7170 77.70 LOrKlOn 

1360 1347 1360 1335 

3320 3240 3240 2145 Abbey Non 

541 534 541 07 wWoomea, 

777 JO 773jO 77620 777 Angfton WnJw 


15.90 

15.70 

1580 

15l70 

1230 

1210 

1210 

1210 

2*75 

26 

76,W 

26 JO 

*75 

630 

6.75 

635 

9.10 

895 

9.10 

9J0 

11.90 

1130 

1180 

1180 

*06 

384 

4 

194 

134 

330 

332 

3J0 

7.70 

735 

7.65 

730 

2*B0 

3*70 

2*80 

2*80 

*35 

125 

130 

BOO 

1220 

1180 

1230 

1180 

1230 

1220 

12SJ 

12J0 

1830 

18.10 

1120 

1830 

7 JO 

7J0 

7.75 

780 


Unlew 
Utd Assurance 


Whitbread 


High 

Low 

Clow 

Prev. 

*15 

190 

*11 

191 

289 

285 

288 

285 

113 

7 75 

7.94 

7.7B 

*32 

489 

*30 

*10 

1035 

10.16 

1124 

10.17 

180 

186 

187 

1.67 

7130 

71 

11.17 

11.06 

782 

787 

777 

7.70 

*55 

*J0 

*« 

444 

*35 

*33 

*35 

*34 

980 

9.13 

935 

9.16 

*52 

*45 

*49 

447 

176 

388 

175 

3J0 

730 

6.90 

7.09 

*94 

587 

*97 

5.03 

*99 

535 

5.15 

5.19 

534 

284 

230 

283 

260 

1782 

17.18 

1746 

1722 

*31 

437 

*28 

438 

787 

*92 

787 

*97 

*93 

*58 

686 

681 

*54 

*43 

*53 

*44 

298 

291 

295 

2.93 

783 

733 

780 

73 9 

338 

332 

134 

333 

*69 

*62 

*67 

*69 

245 

241 

241 

247 

2035 

1183 

1987 

19.86 


High Low Close Pm. 


Oslo 


OBX Max: 65749 


Previous: 65086 


14530 

14150 

14*50 

144 

i-'-'.i ■ .'it 

l^rTTPT-M 

17*50 

2520 

n 4 
7*90 

174 

2520 

11350 

25 


2170 

2140 

2830 

21/0 


145 

144 

14430 

14150 


4*50 

4380 

4180 

44 


447 

441 

447 44330 

Norsk Hydro 
NorataSivogA 

402 

39/ 

397 

399 

255 

254 

255 

35230 


135 

124 13250 

100 


5*3 

538 

£ 

541 

PeHmGeoSiic 

355 

352 

353 

Saga Peffm A 
Sctebsted 

14180 

145 

13980 141 3D 
143 143 

139 

145 

Transocean Ofl 

S28 

525 

528 

505 

Storebrand Asa 

44 

4330 

4X40 

4170 


Singapore 


Asiatic Brew 


Dairy 
DBS I 
DBS Lai 


JpnJ Strategic* 
i-jippd A 
KcppH Bonk 
Keppel Feis 

S®” 1 


Part; way Hdgs 


Sing Alrt 
Sing Land 


FT-SE 108:472820 
Preview 4 68168 


PailS CAC-4& 2944JM Sing Press F 

Prevkws: 23S826 Sing Tech Ind 

Aaffl 920 ' 88s 915 880 

AW ,9a g S ,lt7 ^ 1B7 $ Wdfflw 

956 936 956 933 UMOSeaBkF 


NMOBpessIlKMfT 36 356S 35 JO 3630 Argu 

Metro 193J0 191.10 193 TO.W Asda Group 

Munch ftredcR 4P2U 4830 4845 4890 Ass* Br Foods 


Rodama) 

Rofinco 

Rcrorto 


515 512 514 51029 BAA 

74.90 7420 7485 73 Bardare 

150 346.50 349 350 Ba«, 

190-40 187 JO 189.95 1 8625 BAT Ind 

243L0 239 24340 Bonk SaffiowJ 

liujn UQJ5 10440 103J5 Blue ddn 

2« 2»«0 24080 ^ *IH9 41J BPB Ind 


720 

527 

128 

£21 


8.15 

•430 

624 


845 820 

434 432 

6.79 622 

548 


Madrid 


537 525 

123 125 

S.I8 UJ 
529 543 521 

1235 11.82 12.16 11.92 
747 


570 

524 


ESA 

Agoas Bare 
Aram tala 
BBV 
Bdnesto 
BankJrrter 


520 

408 


533 

328 


4J0 420 425 428 


372 iM 


Macets Closed 


9940 9820 9940 98 BritAHOSp 

VEW 570 56J 565 561 BrtAbiiroirs 

Vtog 80*50 BOO 802 793 BG 

Vofcsmgen 1333 1325133050 1337 Br» Land 

BritPelhn 
BSkyB 
8rit5M 
BrttTeteavn 


Th^angkok, Hong Kong. 

Helsinki -WSS« ‘S 

Tues®’ for a holiday. 


7.18 

781 

7.15 

784 

128 

220 

ITT 

125 

13.42 

1123 

1136 

1137 

*97 

685 

*97 

68 5 

2J5 

220 

234 

281 

581 

5*7 

*71 

586 

737 

786 

732 

787 

482 

*26 

*26 

480 

JJI 

188 

19 

189 

*55 

483 

*49 

*86 

213 

203 

210 

286 


BcoSaidondw 

CEPSA 


FECSA , 
Gas Natural 
Iberdroki 
Pryca 
Repeal 

Sevffiana Elec 
rabacalma 
Teietenica 
Untai Fctiosa 


Wr W u* « W « KV 






Alcatel Alstti 

775 

738 

775 

736 


Botes tadEK 60838 

Axn-UAP 

370 365J0 

370 36530 


Previous: 60*82 

Bonaifre 

780 

753 

l 8 ? 

750 




27610 

BK 

978 

962 

976 

961 

27950 

27550 

27900 

BNP 

247.30 24130 

24X00 24230 

1975 

1940 

1975 

2000 


1207 

1145 


1144 

6150 

5900 

6130 

«ao 


4397 

4287 

4268 

8400 

8250 

8380 

8250 


293 28*10 

290.90 290.90 

12120 

11960 

12120 

11970 

CCF 

258 

251 

W7 

249 

1490 

14/5 

1485 

1485 

Catalan 

741 

724 

774 

739 

26290 

MU0 

26290 

26000 


981 

970 

977 

970 

5480 

5370 

5480 

5390 


583 

572 

579 

572 

37000 

46050 

3/000 

36100 


1251 

1251 

1751 

1251 

4630 

4540 

4585 

4540 


990 

967 

990 

971 

5000 

4900 

4935 



651 

635 

650 

6M 

3300 

3180 


3305 

Eridania BS 

910 

888 

■JOB 

880 

7850 


7840 


9 JO 

9.05 

VJ5 

9.15 

12920 

IM9U 

12920 

12370 


7.05 

660 

*90 

645 

1380 

1345 

1375 



765 

744 

7*5 

753 

32700 

3)860 

32700 

32190 


443 424.10 

443 

47330 

1850 

1805 

184$ 

I860 


802 

762 

7*7 

779 

3200 

3110 

31W) 

3190 


381 

367.20 

381 

36530 

6320 

67 M) 

6300 

6230 

LepranP 

10BJ 

1041 

1070 

1036 

1515 

1450 

1500 

1520 

2t06 

2457 

2584 

2476 

8000 

7800 

8000 

mo 

LVMH 

1607 

1582 

1599 

1580 

4315 

1305 

1290 

4315 

1300 

4260 

1340 

Lyon. Etna 

625 

379 

590 

357 

621 592 

378.10 352.90 

2415 

2385 

2400 

2375 

Paribas A 

411.80 

40430 411.60 

406 


High 

Low 

Close 

Prev. 

e 

Straits Timas: 1981 58 


Prevtam 19«795 

*80 

*80 

*80 

*2 

*50 

*40 

*45 

*50 

1*10 

13.90 

U 

14 

i*9a 

14.70 

1*80 

1*80 

0.76 

a;s 

075 

0.7S 

1850 

18J0 

18*0 

18 

452 

*46 

*48 

*52 

. >020 

m 

9S5 

1020 

258 

2.62 

253 

It* 

7JS 

7 JO 

7J0 

7.10 

3J8 

3.76 

176 

178 

*40 

*20 

*40 

*20 

170 

352 

166 

168 

*86 

*80 

*84 

*B4 

3J2 

178 

350 

180 

1*80 

1*70 

1*80 

1*80 

8.95 

8.90 

8.95 

890 

*60 

*40 

640 

6.40 

63J 

*20 

430 

*50 

13 

12.90 

12-90 

1250 

650 

*45 

*30 

*50 

28.90 

28.70 

28 B0 

2850 

3.74 

168 

358 

168 

2.72 

2J9 

171 

253 

102 

3 

3 

104 

Utt 

106 

U6 

108 

IS 

1*70 

14.90 

14J0 

*18 

*14 

4.18 

*12 


The Trib Index 


PnoesascSSOOPM Ne» tomtme. 


~ in U.S. tloftan. 


Jan i. i992 B 1(0 

Level 

Change 

9i>e hangs 

yeertadm 
to change 
+17.67 

World Index 

175.50 

40.71 

+0.41 

ftogtoral IndmtM 
Asia-Paaflc 

131.40 

■7.9* 

-1.45 

+6.46 

Europe 

102.07 

42.75 

+1.53 

+12.95 

N. America 

202.21 

-0 18 

-0 09 

+24.89 

S. America 

174.31 

*■2.94 

+ T.72 

+52.33 

Industrial Indaxsa 
Capital goods 

216.24 

-0.70 

-0.32 

+26.52 

Consumer goods 

197.10 

*0.33 

*0.17 

+22.10 

Energy 

195.70 

*4.37 

+2.28 

+14.64 

Finance 

132.65 

•0 46 

-0.35 

+1190 

Miscellaneous 

177.53 

+0.53 

+0.30 

+9.74 

Raw Materials 

189.47 

*2.05 

-T.09 

+803 

Service 

165.55 

*1.39 

*0.85 

+20.56 

Utilities 

175.10 

*2.41 

-1.40 

+22.05 


The infemaaatiar Herav T*<aune WcnaStXK mnet Cracks me U.S. aytar values n* 
200 imemaBonatfy investam stows horr coumn*s ect men? information, a nee 
bootoei ts avsiaoia ov entmg ro The Thb irxKt. 18 » Airenua CftartSs de Oauue. 

9252 1 NetnUy ftwe»! ftar.se CompSM Uv BKsxnbe’g News 


42&a Stockholm 


Denso 


High Law dose Prav. 

2830 7»J0 2760 2740 TolvAuEIPwr 



EVtsjA 

Huroamakil 

Kemlra 


Sensei 38 iadac4300LU 

PrniaiK.- 425629 MeHtaA 
040 922.75 930 .«» W**™? 


4720 4720 4720 47.00 
225 223 225 223J0 

51J0 *950 5150 49 

7550 7190 7530. 7320 “ l S 1 

18.10 1720 1820 1730 
15750 15629 1S6.70 15620 gSw™ 


5.99 521 
541 527 

5.17 5 


5.40 553 

536 S36 

5.16 538 


hi K6/J rju 1 .. . d intn 76 me n Main »■« mi 

1454 14251451.7510950 AAeten-Saria B 4220 4120 4220 4230 Ocdrocompow^ *50 447 447 449 

460 450 45325 454 IS 3 ** wJ* EMI Group IW 1068 1070 1078 

10720 10050 10525 10225 S EnetwGlWP AJa »■“ * w lt ' 

S 68 549 556 562.75 IS IS IS EnleroifceoK 


M7 20X50 300 » 12^B TO 12180 JS 

S Jg*HSS SBS^ 'SS aS'SS 


351 34075 - 350 34025 
2075 2050 2020 

460 J49 452.75 453 


GEC 

CKN 


6.1/ 6 116 5JJO m 

653 628 w8 633 Manila 

6.76 620 620 6.74 

042 336 339 338 Ayala B 

*81 455 47? 467 Avafc Land 

pmipw 

Hn "frS Hi MonaaElKA 

630 6.71 6.79 625 Metro Bank 

156 1 M 156 154 KifiSj 

9S6 8.73 9JJ5 177 paSL. 

3# U7 U? 329 Phi ung Did 


Pernod Beard 
Peugeot Ot 
PmauH-Prirt 


311 30530 31030 
«0 567 578 


303 

568 


AC-AB 
ABBA 
Asu Demon 
Astra A 
ABas CoptuA 

Autoliv 

ElednAttB 
Enason B 
Henries B 
incentive A 

hrvestof B 

MoDaB 

Nordbanken 

PtamvlIWohn 

SandvikB 

SranJoB 

SCAB 

5-E BankaiA 
Standia Fore 
Uanika B 
5Kf B 


70* 

409 

254 

265 

269 


Ea5l Japan Ry 5850a 5720a 5800a 5880a Total Bank 

Prevnas: 327021 EtoJi 2150 2130 2150 2170 Tutoa Marine 

Fan uc 4350 J250 4780 4400 TokyoElPw 

1700 1640 1650 1720 Tokyo Electron 
4*30 4530 4530 4610 Tokyo Cos 

1590 1550 1560 1590 TOkyuCoip. 

1160 1120 1120 1160 Tanen 

1790 I m 128U 1280 TappanPrini 

3410 3370 3370 3*50 Toro* Ind 

1780 1710 1720 1780 Toshiba 

*54 4*2 44? 450 Toslem 

617 600 <02 617 ToyoTrist 

6660 6520 6650 6650 Toyota M*rr 

535 525 530 521 Yarranauctii 

Jajibn ToDoko B9^ 8U0a mm «0|ta a x nv-b x > 000 

684 


104 ■ 103 10330 103 

110 108 109J0 108J0 

221 21BJ0 320 220 

146 1*3 145J0 144 

208 201 208 202 SHSSf" 1 BK 

306 302 30530 297 SO 

558 K AA 5SB ™iCKl maHH 

307 30350 30*50 |gJ 

272 268 272 272 HI 

700 701 700 

m *0730 407 JO l»-7t*0[lD 

250 257 30 254 

257 263 261 

264 269 261 

222 21830 222 219-50 

Z35 231 233JO 236 knosa! fclec 

16430 162 JO 164 1*2 

83 B* 8330 Hv V 

287 28430 286 2S5 Kae» Start 


High 

Low 

CtO» 

Prev. 

M40 

2DO0 

rood 

7040 

1170 

1140 

1140 

1180 

1490 

1440 

1440 

1500 

2400 

2380 

2380 

3410 

5610 

5470 

5570 

5480 

319 

31$ 

315 

318 

695 

681 

681 

711 

1360 

1290 

1310 

1380 

1800 

1770 

1770 

1800 

824 

Bid 

814 

817 

735 

724 

726 

737 

3130 

3040 

30J0 

3170 

9*5 

940 

947 

965 

3350 

3290 

3330 

3380 

3110 

1060 

»ro 

3080 


660 662 671 

2200 2160 2170 2210 

1600 1580 1580 1590 


PSE Mac 201534 Promwto 
Previous; 208931 Renaun 


W4 2810 2831 2024 


34130 

70530 

169 

N.T. 

129 


337 341 
199 20530 
16* 166J0 
N.T. N.T. 
126 12830 


242 Wnld Nipp Ry 
200 Kirin Bremery 
I?? kobeSted 
190 Konwteu 
125 Kubota 


.3 B"Ms Jakarta 


Granada Gp 

GgMMd 


Alai 



Jg 38 3S IfS S 

1OT l3! iSS 1550 HSkHkHi 


Ki«n* 


106» 16300 looa 16350 

at $ ss « agSf 

,3 ,g3 & 'H '1 'gg InvIToonco 

1880 1m ms ^0 SI Ss 5600 Mher 

g 3 3 3 cum bssb^. 

a S S a SSS&-3S a * * - 

JjtOS 13730 ma JJ 950 
14873 14325 1473 14500 
13775 13458 1377S 1M25 
4930 4910 49*7 4940 


&01 

6 

175 

447 

6 

6.14 

£74 


737 7.98 7.90 

530 S.90 SJn 

238 273 2J0 

*42 4*4 


1935 

19 

19 

19 

2430 

2435 

2*50 

2435 

168 

166 

167 

168 

10 

86J0 

9J>0 

86 

8*50 

• 9.90 
87 

570 

545 

570 

560 

*80 

*70 

*80 

*70 

255 25X5® 25X50 

255 

s?a 

855 

870 

855 

68 

*7 

67.S8 

6930 

730 

7.70 

7.70 

7.80 


Rh- Poulenc A 
Sorofi 
Schneider 
SEB 


2408 2316 2394 HOT a 1 

154.10 148 154 148.70 c u unpriM a 3SD_5n Uu. 7^n •Xi lAt, Kyocwn 


Vienna AgHeMtimw 

Previous: 1389.70 

TOO Bortiler-Udctoti 980.70 950 980 JO .951 

1190 1160 1160 1190 Credllonsl Pfd 496.10 4 Bo. 65 4S4.05 493 

279 213 215 219 EA-C-enerak 3370 3222 3310 3225 

... ^ EVf( 1427 ism 1610 1580 

RunhotenWbn 528.10 51830 52780 518 

OMV 7620 1570 901 <*105 1570.90 


533 

370 

698 


933 

$61 


513 

362 

*93 


911 

551 


517 

366 

693 


913 

552 


<00 5B0 599 576 

33250 315 331.90 31ZH0 

1830 1009 1012 1030 . 

SG5 Thomson *9980 470 49980 4*4 Sydney 

Sta Generate 677 660 <67 654 ' 

Mama 25VJ 2963 2fti 30W 

StGobofi 880 851 874 857 

Suez 1S15 1430 15.05 14A5 g"p 05 


GKN 10J5 10.16 10.1/ 10J5 68 *7 *730 693!) 7*4 ra 7« TtA BHP 

SSSJE e S )me ’am ’fg ’j"* ’fan SM Prime Hdg 7M 7.70 7.70 7.80 tKcSuS?C5F 1S9AD 153J0 1S8J0 IS140 


BffiH Man 451304 
Previous: 4457 J7 


Total B 
Wmr 
Video 


Legal Genl Grp 
Lloyds TSBGp 
LuaisWJrttr 
Marks Spancer 

M EPC 

Asset 


sS Sfi t* Mexico 

6JW 6.14 bM 

.... SM 176 £77 Add A 

1832 17.76 1U1 17 if BanacriB 

8A7 8J4 8.45 8J6 CernerCPO 

3vfi 185 1B7 187 CUtoC 

7.04 £78 6.99 6J2 EftsMudoma 

Z*8 133 2M Z35 ^OUSOAJ 

837 &jht> 0J9 8A8 Cjjq p Bcomv 

t« IS! U tS Gpq Fin Inhure. ... 

cn AM *27 iM Str*a(rtMta 3245 3170 32^S 3200 Cope! 

638 6.10 6.44 6.16 TeinfaaCPO 12130 13040 12130 121J0 Etatrafaras 

zqp m. m zoo rSSa l " ' ‘ 

£09 4.95 5J6 498 


633 3W tW 
108.30 10230 10*90 
279 3*8.90 37630 


5*50 £400 5*30 5*20 

21.15 %55 20.9Q 2030 Can Pflllla Bwessa Mac 129KA0 GooffilMfl FK 

3*80 3420 3*70 3*50 030 raUIO gwu idAustrata 

1W0 \3M 12-78 12.70 r Lend Lease 


Brambles Ind. 

IS CCAmatl 
•*“ Cotes Myet 
Coma ICO 
CSR 

— Fosters Brew 
Goothnan Fid 


4*00 *2.10 419 
5*00 5520 " 


42J5 

5530 


2J2 2J3 142 2J0 Cemig Pfd 

iRnlnburea 3100 3140 3330 MJO CESPPtd 


1195 10J5 ia90 IDAS MIMHdy. 
829.00 87*00 81*00 82000 Naf AustBank 


In ASS, 4910 tW ,4«« MerowA*« 

Beta- 10675 10400 1005 10450 Johannesburg AB Morten 7«8.U N^TGrtd 

1 Be<g 3*a 3355 33« 33 60 uwi ram n»uuiy PrertasMWW NoSPowff 


27500 20700 21500 21200 
15000 14825 14975 15000 
11*000 114000 116000 114000 


DUso 
IDcmtaBA 


■Me 

670 


ILIH 


.’ankfurt 


46 B 


UgAUpr) 

... Bis 3180 31S5 SL55 Nod 

« n ^wv..Coai 279 279 279 _ 279 nonridi Union 

AngtaAm-COip 17330 OT.M 27125 Orange 

J88 "S 1 |S * 

2*25 2*90 2£M MJO prenMrFpmrt 

76730 147 M7J9 Prudential 

»J 5 MAO 30^ 3(L» Ra«raCiGp 

3925 » 39 RonhCroup 

21 RecWtCofm 

107 IW ,107 Remand 

2W0 » » » ^toUbiHal 

•s f 4 4 B? 1 * 

MOJO 329 3X 330 RMC Group 

12*50 M IO 1M Raft Rayn 

1830 1730 1730 1730 RnyniBkSco! 

10*75 104 10525 1053 R?Zr«l 

19.90 1930 ,19.g Rarely Sun All 

101 10030 100 JO jafam 

DA*-m« kmmnACp OSD 46 4W0 «40 Sdmiwry 

Pruvpt* 3785.77 Ridwmnrt 6*® Sdmden 

1550 I53S hjJO 1531 «■* Pto1inum “ “ ° ° Sad NewOlSfle 


*93 *87 *90 *93 

1232 1239 1146 1131 

2J4 2.17 2J3 230 

£43 521 £41 £22 

8J8 EL03 &43 837 


Milan 


7*90 7347 7*60 7200 News Carp 

19*0 1880 18.990 1050 Pacific Dunlop 

._ 62500 60109 61000 60100 pAneerlntl 

1032. ML04 1030 1982 HauluaaoPtd 52X01 60735 62000 60300 Pub flraodcajf 

Senrtdos 56SJ1 537210 56500 5KJ4 RioTliffii 

mm 42700 43*00 429 JO siGeorgeBank 

305.00 30000 30330 IWJt WMC 

193.00 18100 18*00 18100 westpacBking 

3400 35J0 35.79 3SJ0 WWdsIde Ptf 

11 A0 11JJ8 1U» 11-35 WooMdlta 


PH 

._.._Luz 

Nodonaf 

Cruz 


Gpenhaaen siockUBBiu. An^aAra i™j 

7 3 C " ■ Pravtare 5*8*2 AVMIN 

MonK 272 W 367 ggE* h 

W JOJ Jflf jo6 7> Dm« 

Si S' SS Driefcrfew 

.. ... £ St- tt 

B 253282 347000 3S30QI 343000 

2B 2*6000 VMS JtSBOt 237m 

.at- 3.s r-b saa* 5 

ItawsxB 728 723 72« 724 

trurt BerB 986 962J9 . 9Bi 9M 

J0bws*3 39 34£ 39 345 

1] Bcnco jjrf- 349 3S2 355 

licnmerkA 383 372 382 J73 


Ml B TetavaUca: 13477A9 

PnVtaOS: J31ZLB8 

*81 *70 . *p *79 AlkmiunAssfc 13500 13275 1347S 13355 Tdehras Hd 161M 163JJ0 liW 1^5 
3J4 3.18 1M 3J0 Tetanlg 193J0 191 JO 193J0 190^ 

2^4 1.98 2M 13? m 3ffl 5565 5K5 1** . 167.00 14331 ?66O0 16600 



AlOrffioom* 
Provisos: 1 

272130 

272*90 

883 

871 

471 

880 

9.90 

9.74 

986 

9.90 

19-54 

1923 

1932 

19.4 

*17 

*06 

4.12 

*17 

3*52 

75.90 

a*P5 

7*19 

I5J0 

1570 

153* 

16 

1740 

14911 

16.90 

1730 

6.90 

*79 

*79 

*89 

730 

7.10 

7.11 

7.15 

5.17 

' 5.05 

5.14 

5.13 

247 

245 

245 

246 

1.95 

1.90 

l.W 

1.95 

1330 

13 

13 

1385 

7831 

27.76 

2829 

28 

1.98 

1.92 

1.95 

1.96 

19.® 

1471 

T0.« 

18.97 

2.18 

2.® 

216 

21* 

*51 

*32 

*47 

*35 

3.90 

1B2 

3J2 

19? 

SJO 

5 

5.16 

812 

7.71 

7.60 

7.7D 

7.63 

2251 

7235 

2247 

2258 

884 

873 

874 

881 

BJB 

827 

836 

435 

7.96 

7J4 

7.91 

7.97 

11.48 

1130 

>140 

1)40 

*35 

*26 

433 

*35 


Moraftenl 

Moral 

Matsu Comm 


MBsubitN 

Mitsubishi CD 


MHiubrehi Hvy 

Mitsubishi Mol 

Mitsubishi Tr 
Mitsui 

Mitsui Fudosn 
Mitsui Trust 
MurataMtg 
NEC 
Nhon 
n mu s« 
NMendo 
KIpaEtanKs 
Nippon oil 
Nippon Sieei 
NKum Motor 
NKK 

Nomura Sec 
NTT 

NTT Data 


533 

J73 


561 

9100 8«90 9010 9 UK) 

1980 1970 1970 1970 

497 485 4«0 495 

518 ®3 503 550 

2170 2090 2100 2130 

3930 1880 3900 3870 

7300 2360 2270 2310 

13(79 1280 1 780 1 300 

l-UO 7370 1380 1430 

369 - ' “ 

648 



880 

859 

87830 86*75 

VA Stahl 

57230 

555 

56810 55530 

VATech 

2315 

2250 

2302224435 

Wwnerbeig Bau 

2595 

2500 

2595 2519 


JS 36? » Wellington nbe^^ 


641 643 641 


822 

1800 


811 815 820 


&SJ 840 840 B65 

4580 4-20 4450 4520 


715 

496 

707 

705 

9490 

9300 

9370 

9580 

915 

900 

902 

915 

640 

625 

635 

627 

366 

356 

357 

366 

877 

852 

855 

889 

243 

238 

242 

246 


A* N Zedd B 

430 

445 

*50 

*50 

Bnerty Hivt 


142 

143 

I4J 

Carter Hat onl 

1/4 

3M 

170 

381 

FHdiCh Bldg 

*41 

411 

*35 

443 

Flrtch Ch Eny 

*57 

445 

*57 

445 

RrtchCft FofSt 

2.15 

213 

7.14 

214 

rtetch cn Paper 

X55 

X48 

*49 

*57 

bon ftotian 

Mi 

.171 

1/J 

J.73 

Tetecam NZ 

7 55 

/*) 

735 

7.50 

Whan Horton 

NT. 

N.T 

N.T. 

11 JO 


1580 1540 1550 1580 Adecco B 

1100b 1080b 1000b ITOdb AluwoseR 


SPI Men: 356*46 

Prevtotre: 3548J7 

22*5 2201 2205 2210 
562 546 548 560 


7J» *92 


*96 Ben di Roma 

^ Benetton 


Ricoh 

ffufim 

SakuroBk 

Sankyo 

SanMiBanh 

Soap) Etec 


4570b 4440b 4500b 4430b CiK-Smw B 
700 690 691 709 AleIR 

328 325 328 329 BaetHdgB 

1510 1*80 1490 1500 Batofce 

U7oo nan rrsoo iroacr Bkvokm 

875 851 86* STB Cibo Spec Chem 135.75 

3890 3760 3840 3850 Ckutant R 

1700 1650 1650 1700 Crt Suisse Go R 


1528 1493 1516 1STZ 
2235 2120 2305 2116 


060 8*0 860 880 

7240 2710 2215 2235 

3495 3450 3«90 3480 

1197 It83 J14S trw 


510 


1650 1650 1700 Oil 5UlS6e Gp r 

499 507 514 EleHrawjttB 


974 

193 

5*1 


134 

945 


540 


135 

972 


135 

945 


192 18730 
541 541 


1J8 1J4 U7 fi7 3 fno ^ WmlnasPH 1240 1199 ijjo 11.99 

70S 7.14 7 36 7.1S gS™*®" 0 §95 K3C 6^ WSJ CvRDPH 2*30 2180 2*15 2301 

9850 9605 98® 9626 

6305 tan 6300 6130 

314 » 30600 31*50 30900 — 

MB ’88 “ ‘SB SeOUl Coffi|«Hbtod«7Mig 

5500 5310 54<5 5500 Pmvtoos. 

7175 7150 7)00 721 S 

10700 10280 10780 10320 


IM me /jo /.is 

*70 *63 *63 *49 !2“ on 

5,9? 5.78 587 5J7 gL 1 

iJ9 *23 *» *26 SL rfAMk 

182 1.72 3.73 181 ffii 

9.14 8.90 8.99 8.96 ** 

142 133 3J4 141 

*87 *33 581 5J2 

jjl 2.10 2. IB 2.11 


Jdmnies Indt 
LBwrty Hdgs 
Liberty Lite. 
LibLMStrat 
Mmsrco 
Nampak 
Nedcar 


IMA 

IMaas 

Hi *9* *35 *33 

9 77 9*5 9 JS 9J6 2™*L 

2J6 123 2.23 2J0 p£2 oM 

Ml iO Si# 

1069 10.42 10*3 1047 

4.65 461 *55 *43 

X56 147 3J4 368 

17? 336 167 165 

1*43 1*25 1660 16.41 

6*0 663 *58 667 


Pta* 

RA5 
Rolo Banco 


ppeom 

DoavmoHsavy 
iw iih Hyundai Eng. 
.489 48130 Km Mature 


489 480 

2470 Z385 

4305 4220 4365 4210 Korea ErofiSK 6300 900 6700 5 850 


21950 .21100 21200 21100 

5 Paolo Torino 12780 12150 12700 12390 

Sd 

Telecom ttoito 

TIM 


5565 5390 5535 5090 
5645 5445 5615 5500 


•wrw re*» la 

LGSendcon 
Pahang Inn St 
Samsung DKn 
SemsuwEtec 
SMnhanBank 


11200 10900 11000 11000 




NOdtoi 225: 2017853 

Seaxn 

MOD 

8340 

8350 

8410 

Ems-Chemie 

6505 

64*5 

6500 

6500 




SdbuRwy 

5780 

5540 

5550 

5/60 

ESEC Hdg 

480(1 

4730 

4HUI 

J/VO 






SeUsuiChem 

1170 

1150 

1170 

1160 

HoidertnnkB 

1.180 

1367 

13/1 

1179 


ITS) 

1190 

1190 

1230 


1190 

1170 

1170 

11*0 

ued*mi LB B 

553 

«3 

£53 

59/ 

All Nippon Air 

/4 / 

731 

731 

735 


8650 

8*90 

8550 

8660 

Nestle R 

1936 

1907 

19U 

I9?6 

Arntny 

3 m 

3820 

mo 

3X0 


1570 

1540 

1540 

1580 


2354 

2320 

23« 

2334 

Aiohl Bfflft 

06$ 

931 

932 

975 

ShHraku ElPwr 

1950 

19 JO 

1950 

im 

Oerikn Burti R 

170 

168 

168 

171 

AsattOtem 

685 

670 

671 

685 


697 

667 



Porgesa HkJ B 

1970 

1950 

1955 

19.-J1 

AsahiGlas; 

1140 

1120 

1120 


SWn-efcuCii 

3040 

3001! 

3020 

304(1 


840 

830 

frw 

835 

BLTufcynMUsu 

2280 

200 

xim 

2300 

Stoseida 

1880 

1850 

1AM) 

1890 

Rkhemonl A 

7240 

2153 

2240 

2110 

BkVotaiwma 

654 

442 

654 

6JS 


1300 

urn 

fJCKT 

l.W 

PfreillPC 

28/ 

m 

m 

786 

Bridgestone 

3*80 

2590 

2M 

2660 

Safibonk 

7360 

7200 

7130 

7330 

RodKHdaPC 

13305 

13160 

13300 

13206 

Cnnai 

3170 

3070 

3080 



10000 

WOO 

9930 

9900 

SBC R 

:«* 

38830 39150 39030 

DiutwEtec 

2070 

2050 

21)60 

5070 


1080 

1050 

10*0 

1090 

SctiUWtarPC 

l««l 

ibis 

I860 

W5 

Diugalai Elec 

2030 

7000 

XOO 



1880 

1830 

1830 

1880 

SGS 6 

.11*5 

3050 

KK5 

3170 

Dai NSW PfW 

2590 

2J2U 


2990 

StmntCftem 

J?.’ 

506 

508 

519 

5AIHB 

IU5 

BX 

8% 

831 

Date! 

750 

735 

738 

735 

SumltamoElec 

1930 

1900 

1910 

1920 

SoiMR 

1258 

1244 

1250 

1750 

Dd-ldii Kona 

1550 

1530 

1530 



324 

317 

319 

32* 


2001 

20*3 

2091 

7065 

Dahw Bank 

569 

546 

549 

543 


1220 

M90 

1200 

1230 


1*75 

1626 

1673 

1*16 

Drawn House 

1390 

1360 

1360 



3070 

2070 

3070 

3090 

ubsb 

1705 

1677 

1694 

1670 

DalwnSec 

914 

097 

903 

904 


3)10 

.1)70 

.vw 


wmnhurP 

1795 

1285 

1795 

>386 

DDI 

14309 

02609 

MJOb 

8460a 

TDK 

8610 

8450 

8te0 

8410 

Zurich Lsiur P 

595 

387 

5*0 

581 


.1 

f 


.. ^.ir 




r- • 










last month. 
r Hrlfiger are 
And selling 
os a designer 


s intricate ■ 


International Herald Tribune ^ 


A Special Report 


WEDNESDAY. JULY 2. 1997 

2 


Men’s Fashion 


Americans Abroad: 
US. Style Goes Global 

Silliness Sense Pairs Up With Creativity 


J By Kimberly CihJar 

TM T EW YORK — American 
|\ I men swear designers are hav- 
11^ tog. “a moment.’' Routing 
JJ 5 their products to a global cu£ 
icpr. many top American designers 
aryacing the clock to open flagship 
st&s in London, Paris. Milan and in 
A fun destinations from Tokyo to 
S&apore and Hong Kong. 

fou want to buy Calvin Klein but 
ci't make it to the U.S.? Visit his new 
s*re on Avenue Montaigne in Paris. 
Onna Karan? Find her collection in 
jfndon on New Bond Street and 
&NY on Old Bond Street. She's now 
fibn in Melbourne, Australia, and the 
; poer East Berlin. 

t jNeed the latest Tommy Hiifiger? It 
• ill be in his London 
"• iop opening in 
; pptember on Sic me 1\ / 

, JieeL And as R; Iph } ) i 

feauren gets read r to .■ V 

E ” ve and expand his ^ 

idon store, ha has j bass 

[her in Israel its 1 rasaa KS5 


that New York City is experiencing. 

There’s another factor too: American 
designers are being recognized not only 
for their artistic creativity, but also for 
their business acn men. 

Take a look at designers like 
Lauren, who sold the first shares 
company's new stock 
Donna Karan and Tommy 
also public companies, 
stock to shareholders meat 
must be ever more busines 

“A lot of American designers are 
bottom-line thinkers,” says Karan. 
Even so. it’s not easy. She took a bit of 
flack last month at her first annual 
stockholders meeting, and now admits. 
“It takes a tremendous amount of en- 
ergy to be global.” 

Tommy Hilficer knows that <701 no 


another in Israel its Kgggtf P? 

Boors already spread |B|| fP 

L Catering to J the Mu l 
European and Asian v ; j \jf 

/consumer by sir ink- 1 ! j l ji 

ing the world! via i | •! 

(namesake retail bper- jj ! f"( 

ations is not the/ only ; ! I } j j 

tactic in voguj. At j J j , , 

least two Ami rican / [ ; 

designers are :oing l j •• 

straight to the s urce, j j ! J 

deserting the New J j 

York show sclidule I ; •, 

for the Milan c cuit. \ j ' I \ j 

Calvin Kb n is | ! 1 

presenting hi CK r3*i • )' 

collection ai the L ~* : — 

shows this wjek in 
Milan. Attention will Fresh off Bar 
also focus di the 
rising star Join Barden, who is intro- 
ducing himsllf — and his first 
menswear collection backed by the 
Italian manrfacturwg giant Genny 
Group — to tie international press and 
buyers at the Milan menswear event. 

Last seasor it was Donna Karan New 
York that hi the runway in Milan. 
While Karan ; back to showing in New 
Y ork later thi month, she was one of the 
first America designers to be asked to 
present on df runway at Pirri Homo's 
menswear trie show in Florence three 
years ago. SH says she chose to show in 
Milan “becase we are an international 
brand." Ad® Karan, “I have to do as 
much sellinrin Europe as in the U.S. ’ ’ 


Fresh off Bartlett's sketchpad. 


Tommy Hilfiger knows that going 
public puts the designer under greater 
scrutiny. “J think 
^ that other designers 

/ ! (\ and other people in 

\' I. j the world look to 

_ Au A-- those of us wbo’ve 
gone public," -Hilfi- 
^ || M ger says. “It’s a first 

|| ft that weVe been 

Ifo jLJ - looked upon as good 

S2SS P business prospects. * * 

, fT' 1 ; ijUf Uj David Chu, Nam- 
'S '/’’W X P ica’s designer and 

1 / ' chief executive of- 

I ficer. says the rest of 

/ the world is looking 

! I j i at how America re- 
<} f * invents itself. 

j f “U.S. designer 

i | ! j sportswear is doing a 

• \ j jL great job of market- 

i j ■ § ing and packaging it- 

» J j U self for the global 

i jj if consumer,” says 

if if* Chu, an Asian trans- 

^ plant to the States — 

~ • hailing from Taiwan 

, — who designs a 

?tt s sketchpad, highly American 

looking sportswear 
collection. "The world is changing: it’s 
much more complicated. What’s an 


tank top; Gaultiers matador jacket and tight pants; from Byblos. an elongated-jackal sail with stretch linen 

The Gaultier Look Is Macho, With Attitude 


By Suzy Menkes 


American company or a European com- 
pany today? It’s truly international. 
Today, it’s a glohal collaboration. 

wh^rAi/w hah itiAiti »a ««ik» *L a -* - 


^ A Sfateon goes global, Amer- 
f\ ich designers seem to be get- 
/“% life more than their share of 
■*» A. th traditional 15 minutes of 
fame. "TH American menswear de- 
signers toqy command worldwide re- 
spect, a pennon dominated in the past 
by the Eropeans,” says J. Stanley 
Tucker, vijb president/fashion director 
of Saks Fim Avenue. 

Some cp the media-driven mystique 
of Hollyvpod and the music industry 
for makirj celebrities out of U.S. de- 
signers wb dress the stars. Others note 
the intemtionaJ clout the New York 
shows ncj,' have, and the renaissance 


for makii 
signers w 
the interr 
shows no 


wherever you want to put the origin.” 
International companies watching 
the U.S. designers look for a combin- 
ation of creativity and business savvy. 

“Americans have the idea of busi- 
ness with their feet on the ground,” says 
Donatella Girom belli, head of the 
Genny Group. “They have in mind 
what marketing is involved.” 

In addition to Bartlett. Girombelli’s 
designer stable includes Richard Tyler, 
an Australian based in the United States. 


M ILAN — On a rose-strewn 
stage in a convent court- 
yard, a French designer 
stood up for Latin values. 
Hie witty, provocative show sent our by 
Jean Paul Gaultier on a Latino theme 
was all taut tailoring, ti«tiit pants and 
machismo matador attitude. . 

As a model handed a red rose to a 
laughing Giorgio Armani, sitting front 
row, it set the tone of the spring/summer 
season. The choice in menswear fashion 
now is about virility versus simplicity. 

On one side are close-to-the-body 
clothes that are uoabashedly for a pea- 
cock male and strong colors that sizzle 


who designs for Byblos, and Rebecca with Mediterranean hean on the other 
Moses, who has just produced her first simple shapes in graphite colors with or- 
menswear line. iginal details and modernist materials. 

Certainly there are other reasons why A good show has a synthesis of the 


American menswear designers are be- 
ing so widely recognized around the 
world today. Increased travel and broad 
exposure to the modernity of American 
culture are a large pan of it. So, too, is 
the world’s increasing obsession with 
casual sportswear. 

But why is it an American moment in 
fashion now? As John Bartlett suggests. 
“Maybe it’s just our turn.” 

KIMBERIS CIHLAR is a fashion and 
lifestyle writer based in New York. 


A good show has a synthesis of the 
two aspects of manliness. And Gaultier, 
in his first show presented in Milan, 
pulled that off. For behind the Latin 
antics — white-painted teeth for a flash- 
ing smile, midriff-knotted shirts and 
Mexican sombreros — was sharp and 
inventive cutting. For the figure-hugging 
pants alone there seemed to be a dozen 
different versions, concluding with Car- 
mencita frills lapping the ankles. 

Gaultier's mastery of tailoring was 
shown as the first models came out in 
impeccable pin-striped jump suits or in 


the regular suits, curved gently at the 
waist and with brightly patterned jacket 
linings. As things got steamier, the jack- 
ets were taut and tiny, caressing the 
pectorals and glued to the hips: or they 
were short matador shapes — ■ a sexy 
version of the familiar bomber jacket. 

Ebullient creativity came in large ges- 
tures or in tiny details: the raffia-fringed 
vertical ruffle on a shirt: the lace-effect 
edging on jeans; the billowing white 
blouses, or Gaultier’s signature mateiot 
top in sheer knit with leather stripes. Bur 
why the Spanish theme? 

"It stands for an image of man — the 
Latin macho, and I wanted to play with 
the flamenco silhouette that seemed 
right,’’ said Gaultier. 

Vivienne Westwood was in the same 
camp. And “camp” was indeed the 
word. Although her show of dashing 
dandies was marginally more restrained 
and included interesting cuts of jackets 
and thigh-hugging pants. Westwood in- 
sists on trussing up her models with 
fancy wigs (think of one teased into 
cuckold’s horns), exaggerated bowler 
hats and square-heeled shoes. The result 
is frustrating because, while admiring 
Westwood's imagination and cutting 
skills, you long for her clothes to make 
the transition to normality. Only a long- 
line beige linen suit, worn with a witty 
rope-knot patterned T-shirt, or a few of 
the jackets removed from their histor- 
ical-costume context, could pass, rather 


thao mince, through the real world. 

Missoni hits above the belt. Its fash- 
ion story is in colorful patterned sweat- 
ers and. this season, in shins of in- 
triguing weights and textures. Shown 
with simple modem pants, the collection 
added up to effective male plumage. The 
range of color and pattern was especially 
inventive, from the straw-beige sweat- 
ers with faded patterns that opened the 
show through the bright zigzag stitches 
on a tight tank top to the simplest polo 
shin in variegated shades of green. 

S O what about fashion's sober 
side? In his second collection 
for Byblos, the American-based 
Richard Tyler was discreet to a 
faulL Not a blip of drama interrupted the 
smooth progress of ultraJong jackets 
and sweaters that were soft as putty and 
superlight. Their proportion to the nar- 
row pants was not always convincing. 
But in his minimalist collection. Tyler 
had a resolutely modem eye for fabrics, 
from the knits in crunchy stretch linen or 
sheer viscose through supple suedes and 
iridescent mohair. 

Innovative modem style came from 
Costume Homme. Silver zippers on 
pant legs and metallic eyelets on sweat- 
shirts gave just the right touch of hi- i 
tech. Colors were shades and textures of i 
gray — with an occasional dash of airy * 
blue. Hie skill was in the proportion of i 
Eisenhower jacket to low-slung pants l 


and in the judicious choice of fabrics. 

Fendi’s show siarred Quincy Jones, 
making a guest appearance between 
representing his magazine Vibe in Mi- 
lan and working on the music for a new 
Steven Spielberg movie. Knits were 
Fendi's strong suit, with beige -and 
sand-safari colors and rugged textures 
suggesting rustic luxury. Leather and 
suede shins and pants, and fine foot- 
wear, were also luxurious in their licht 
ness and in their finishes. 

Knitwear generally packs a punch in 
Milan, with Iceberg showing techno- 
logical skill in its simple sweaters that 
had blocks of scarlet bleeding over beige, 
or abstraci geometric effects like modem 
art painted in white on a dark arouqd. 

A ball rolling down a slide — fol- 
lowed by the careering descent of the 
male models — was the** start of a spunky 
show from Etro. a fabric house that is 
giving a youthful spin to its fashions. 
Every thing was easy but dynamic, with 
shins worn as jackets and made with 
tactile textures and in offbeat colors and 
prints: cottons, madras checks or indigo 
with tie-dye effects. 

As the clothes moved in an energetic 
way, the show proved what is always a 
constant for Indian fashion — that a 
relaxed attitude to the male body makes 
the most of the clothes. 

SLZ) MENKES is fashion editor if the 
International Herald Tribune. 


Ffpm Shoulder Waxing to Eyelash Tinting , Paris Guys Get Into Grooming 


In-Win Mjrt DehoK 


UMen can get the full treatment at all-male beauty salons in Paris: manicure, facial, sun bed and massage. 


By Alicia Drake 

P AWS — Summer is here, the 
beach beckons and the Parisian 
man’s thoughts rum to getting 
his chest hair dyed. At least 
they do if he's a client at the Marc 
Delacre salon, a sleek hairdressing and 
beauty institute for men only that is 
doing brisk business this season in 
"chest timing.” 

ft is a treatment favored by those 
men of a certain age who get the gray 
hair on their heads tinted throughout 
the year and who are now heading 
south to pick up the power yacht at 
Monte Carlo. For them die concept of 
lounging around on deck with mis- 
matching chest hair is really not de- 
sirable. As Monsieur Delacre tactfully 
puts it, “ft's so much better if 
everything harmonizes. " 

We all knew Parisian women are 
fond of preening, but now it seems that 
Parisian men are getting that way too. 
The Hotel Ritz Health Club has a new 
program developed specifically for 
men, “Summer Pleasure Days,” thar 
offers, beauty, body shaping and anti- 
stress sessions. 

Jean Paul Gaultier Parfums has just 
introduced a scented self- canning lo- 
tion to its Le Male range. And back at 
the Delacre salon, the bar/waiting area 
is lined with business execs, lawyers 
and television presenters, alt dressed in 
crisp white kimonos and waiting for a 
manicure, micro-peeling or sun-bed 
session. ] 

A former head of Alexandre de Paris l 
men’s hairdressing, Delacre opened his 
salon on the Avenue Georges V seven r 
years ago, with beauty treatments in- I 
tended as a sideline. 'But beauty and 
grooming have gradually overtaken n 


hairdressing and now account for 60 
percent of salon turnover. This August 
the salon will dose for two weeks to 
add three more beauty cubicles. 

What’s behind the trend? Two 
factors, according to Delacre: Women 
are becoming more demanding, and 
male mentality is changing. “Whether 
you are on Avenue Georges V or down 
at the local supermarket, males of everv 
social level are preoccupied with their 
image,” he says. “I think of my 
friends, most of whom are aged 45. 
married to a younger, second wife and 
starting a second family. Thev come to 


starting a second family. They come to 

Mismatching chest 
hair is seen as really 
not desirable. 

me and say: i don’t want to look like 
the grandfather of my children.’ " 
Image control is high on the agenda 
over at the French parliament, which 
has housed a hairdresser since the be- 
ginning of the century. Originally a 
male-only traditional barber, the salon 
at the Assemblee Nationale now offers 
scalp treatments, head massage and 
hairdressing for men and women. ‘ 'The 
male deputies in particular are taking 
much more care and attention about 
their look now,” says the salon's di- 
rector, Cyrille Ribette, before being 
whisked away by a legislator impatient 
for his wash and blow. “Ir’s ail down to 
the pressure of television and media.” 
Apparently it’s the combination of 
media and women that is driving 
French men ro die beautician. 

' ‘At one time in France all a man had 
to be was rich and witty and he could 


have any girl he wanted.” says Phil- 
ippe Dumont, owner of the Nickel male 
beauty salon, which opened in May last 
year in the Marais districi. "But' over 
the last two years there’s been a com- 
plete media explosion of the male 
body. Every advertising poster shows a 
half-naked man with not a hair on him. 
A woman switches on the television 
and she sees the band ‘2 Be 3.’ then 
looks at the man in her bed and realizes 
there’s a difference." Not only does 
she realize the difference, but she tells 
her man ro go do something about it. 

The real champion of die trend in 


, ma le beauty, howe ver. has got io be the 
say population, which has forged the 
way in increasing body awareness, 
flesh exposure and male cosmetic con- 
sumption. At Nickel, which specializes 
in the old-fashioned razor shave plus 
beauty treatments including eyelash 
liming, facials and waxing, the cli- 
entele is young, fashionable and 30 
percent gay. As was the case with tight 
T’s, beards and Calvin Klein under- 
wear, where gay men lead, straight men 
will often follow. 

But although the taboos surrounding 
male preening may be fading, your 
average French man is still going to feel 
self-conscious about getting his nails 
done — hence the demand for male 
only salons. 

"imagine you're a man and you 
want your shoulders waxed, so you go 
off to a female salon,” says Dumont. 
“They begin by asking you why vou I 
want them waxed in the first place. 
Next you find yourself dressed in a pale 
pink gown and standing in line behind a 
crowd of staring women. Men need 
their own space.” 

.OJCl.4 DR.4KE is a fashion writer 
based in Paris. 



?vvt-5¥SG"‘ 


II 


P. 


c 




INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 

MEN’S FASHION / A SPECIAL REPORT 


Comfortably Ambiguous, the Shirt- Jacket Is Born 


By Roger Tredre 

L ONDON — Is it a shirt? Or is it a 
jacket? This season, menswear de- 
signers say it's a little of both: new 
shirt-jackets that are working over- 
time to fulfill a double function. 

Designers are cutting jackets to look like 
shirts, and vice versa, as a two-in to-one mood 
sweeps ihrough fashion. Many of the names 
showing in Milan and Paris have picked up 
the trend, which could run and run. 

The spring-summer ’98 collection from 
SO By Alexander Van Slobbe sets the pace 
with shirt-jackets in linen and stretch wool. 
“I use the shape of a shirt to make a jacket.’ ’ 
says Van Slobbe. whose Dutch label is four 
years old. 

A shirt-jacket cut to the waist has proved 
such a strong seller for the Japan-based Brit- 
ish designer Nigel Curtiss that he has recycled 
ir in several of his collections. “I like the idea 
of clothes playing two roles, of clothes being 
a bit ambiguous,’ * he says. 

Another key influence is Belgium’s Dries 
Van Noten, whose shirt-jackets are a hit in 
stores worldwide. 

Designers have focused more of their cre- 
ative energies on shirrs in recent seasons. 
Sales executives say shirts have assumed 
greater prominence in many designer col- 
lections as a response to the fact that cash- 


strapped customers are cutting down on jack- 
et purchases. 

“The whole accessories part of our busi- 
ness — including shirts — is growing.’ ’ says 
Lothar Reiff. creative director of Germany's. 
Hugo Boss. “Men realize that just by chan- 
ging a shirt or tie, they can change their 
whole look.” 

Even in Britain, where the economy is 
booming and designer clothing is bouncing 


dlLClIMUUgm MAV ***• 

response to the heightened interest. 

For role models, new companies need look 
no further than Le Garage, a pioneering 
French designer label that made shirts chic 
again. Other design houses, such as Comme 
des Garcons. launched their own specific 
shirt label to bring their name to a wider 
market. 

In men's casual wear, funky young labels 
led by Italy's Diesel and Britain's Burn) are 
saying anything goes in shin design, using 
everything from toweling fabrics to photo- 
graphic prints inspired by the British designer 
Paul Smith. 

Retailers say that by fqcusing on shirts they 
are attracting younger customers to designer 
Libels — often those customers who find the 
price tags on structured jackets beyond their 
means. 

“We’re selling a lot of what I call over- 


shirts rhat you can sling over a T-shirt,” says 
Peter Sidell, co-owner of The Library, the hot 
store in west London this season for designer 
menswear. “They are perfect for the hol- 
idays." 

Like many retailers across Europe, Sidell 
has been surprised by the popularity of tight- 
fit stretch fabric shirts this summer. The rule 
of thumb among retailers has always been 
that men are no less vain than women: Put 


from sports-inspired Lycra stretch to more 
tapered and shaped styles, proved so popular 
they flew ont of the shops in early spring. 


the coining autumn, that means tartersall 
checks in bush cotton with smock detailing 
and lSth-centuty tie necks. 

And next spring? '’Natural, coarse-look- 
ing textures, using rough silk and dry cot- 
ton,” CaseJy-Hayfbrd says. 

Even in die workplace, the shirt is un- 
dergoing a transformation. 

Easy-care. non-iron shirts using new fab- 
rics and sewing technologies are making an 


Marks & Spencer 

pioneering soft-againsi-ihe-skin. easy-care 
shirts. 

And the shirt story doesn't end there. The 
dress -down phenomenon is also having an 
r ' across 


B UT fashion does not sit still for long, impact, with shirt manufacturers « — « 
Many designers are .shifting direc- Europe extending their casual shirt ranges in 
tion for nett vear. nromotin? looser, resnrmse to the srowth of “Fridav wear’ ' — 


tion for next year, promoting looser, 
softer silhouettes and natural fabrics 
like linen and cotton. 

“We've ail suffered the discomfort of ray- 
on stretch shirts.” comments Nigel Curtiss. 
“And people have had enough of suffering 
for fashion.” 

This trend was noted by visitors to Pitti 
Immagine Uomo, the Italian trade fair just 
held in Florence. Natural fabrics are making a 
comeback. 

A name to watch as a directional influence 
is the British designer Joe Casely-Hayford. 
who makes strong' statements with shirts. For 


response to the growth of “Friday wear" — 
the concept imported from the United States 
of encouraging employees to “dress down” 
on the final day of the work week. 

For shin manufacturers, casual Fridays 
represent a new business opportunity. Their 
thinking runs like this: If the offices of the 
future are to be tieless and jacketiess en- 
vironments, that leaves the shin center stage 
in men’s fashion. 

Or should that be the shirt-jacket? 

ROGER TREDRE is a fashion features 
writer on The Observer. 



Rising star Joe Casely-Hayford at his London stun 


Modem, Male, Made-to-Measure: The Great Custom Tailor Revival 

Trend Sweeps London, Paris, New York || ; 


Italian Suits Go Personal as Demand Soars 


By Lucie Muir 


'ILAN — Maybe it’s be- 
cause men have more 
spending power. Maybe 
. they just like the way they 
look in a tailored suir. Whatever the 
reason, high-end Italian retailers are 
putting chalk to cloth as more and more 
men desert off-the-rack clothing in fa- 
vor of the made-to-measure suit. 

* ‘There's a notable return to made-to- 
measure as the suit takes on a new global 
status," says Antonelia de Simone, 
marketing director at Brioni, the Rome- 
based company known for making the 
suits for Pierce Brosnan’s James Bond. 

"We have already seen a 35 percent 
increase in orders this year,” de Simone 
says. And Brioni is far from alone. In- 
dustry' sources say railor-made clothing 
is among the fastest growing high-end 
businesses in Italy today. 

Next spring's Italian suits will be 
made with a rich array of fabrics: shiny 
cottons, silk and mohair blends, super- 
light cashmere and the best of Britain, 
Italian style. Savile Row chalk stripes. 
Prince of Wales plaids, flannel and Har- 
ris Tweed come in new lighter weights 
to emphasize comfort. 

For the same season. Ermenegiido 
Zegna, the family-run textile and ap- 
parel company, is pushing a superlight 
cashmere that weighs just 2 10 grams per 
meter. There is also a very fine Aus- 
tralian merino wool called 15 Milmil 15. 
which aside from being light yet thick 
can be worn 10 months of the year. 

Mohair is the hot favorite in cool 
blends for summer. Marzotto, the Italian 
textile and apparel giant, which pro- 
duces Gianfranco Ferre’s Studio line 
and Hugo Boss, has created a Light shiny 
silk/mohair that is soft to the touch. 

“The future for fabrics used in made- 
to-measure is in comfort and weight.” 
says Marzotto’ s chief executive. Silvano 
Storer. “Today men don’t need heavy 
fabrics year round as they once did.” 

C LOTHING and fabric produ- 
cers have been quick to enter 
the made-to-measure busi- 
ness. offering new suit collec- 
tions made with their own fabrics. 

Next season Marzotto will add a 
semi-tailored collection. Sartoria, to its 
existing Principe line. The new col- 
lection is made with lightweight stik, 
mohair and linen. Shapewise, suits will 
hang close to the body, but for those 
who can’t give up the pasta, waists will 
be slightly looser for added comfort. 

Sartoria was added in response to an 
enormous demand for the tailored look, 
particularly from American customers. 
Storer predicts first-year sales in the 
United States of $10-$ 15 million. 

Last year. Ermenegiido Zegna un- 
veiled its Napoli line of sleek suits and 
overcoats, which are hand cut but in- 


dustrially sewn in the company's Swiss- 
based factory. Made-to-measure ac- 
counts for 15 percent of Zegna ’s sales. 

Zegna has been in on the trend from 
the start. Gildo Zegna, vice president of 
the company's formal wear division, 
said, * * Men want to look dapper without 
constrictions. Only a fine tailored suit 
and classic fabric can offer him this. ” 

. Zegna' s best markets for made-to- 
measure clothing are the United States 
and Japan, where the Zegna stores em- 
ploy teams of tailors to measure the 
clients. Post-purchase, Zegna will send 
a tailor to your home to make any nec- 
essary adjustments. 

Another leading textile and outer- 
wear name, Loro Plana, has also de- 
cided to measure up for business. 
“What amazes us the most is the fact 
that clients are prepared to wait.” says 
Sergio Loro Piana, the company’s chief 
executive officer. “They want custom- 
made suits at all costs.” 

VEN designers get their clothes 
tailor-made. Where would the 
celebrated Gianfranco Ferre go 
for shirts other than Truzzi, the 
prestigious Milanese custom-made shirt 
and tie maker? 

“Italian tailors formed the basis of 
today's ready-to-wear,” says Feire. 
“They have given today's designers a 
fundamental lesson in the cut, construc- 
tion and proportion of a man's suit, as 
well as a precious array of fabrics.” 
Milan's - tailoring association, the 
Unione Milanese Sarti, boasts that it has 
some of the best tailors in the world — 
tailors who can make any man look 
ihysically perfect even if he’s not. 

lere’s even one member who spe- 
cializes in made-to-measure inner 
breast pockets designed to hold his cus- 
tomers’ mobile phones. 

The future looks brighr for well-es- 
tablished tailors like Mario Caracenci, 
who says that orders significantly in- 
creased this year. Kiton. another well- 
known Italian tailor, is also a popular 
choice with Americans, who travel to 
the company’s atelier in Naples for fir- 
tings. “They're willing to spend the 
money for personalized suits with a 
unique Italian quality,” says the com- 
pany's president, CiroPaone. 

Italian tailoring is hot with Holly- 
wood — so much so that some compa- 
nies attribute the general surge in made- 
to-measure to better-dressed movie 
stars. Brioni did its part with its $2,000 
James Bond suits. And Canali, which 
made those classy double-breasted suits 
for Gene Hackman's double-crossing 
character in “The Firm,” says its U.S 
business is also on the rise. 

But men hoping to achieve the 
Brosnan look must still remember: 
There’s only so much a suir can do. 









By Rebecca Voight 


P 





ARIS — On the high end of 
'menswear, one-of-a-kind is 
where it’s at. Not since the 
1970s, when rock ’n’ roll hit 
London's Savile Row, have custom and 
made-to-measure tailoring been such 
hot fashion commodities. 

The custom-made revival has been a 
boon for English tailoring. Savile Row 
is buzzing with orders. And a coterie of 
young London bespoke, or custom, tail- 
ors — Richard James. OzwaJd Boateng, 
Marc Griffith and Timothy Everest, all 
on or defiantly off Savile Row — are 
turning out spin-offs based on their cus- 
tom-made look. 

For a new generation of men's fash- 
ion customers, luxury is more than a hot- 
designer label: It is clothes with a per- 
sonal touch. Beyond the traditional cus- 
tom-tailored mold, which has evolved 
little over recent years from the tweedy 
Prince Charles look or the sleek and 
sinister John Gotti style, the new made- 
to-measure is fashion-driven. 

And the backroom tailor is not where 
the business is going. Michaela. Maruu 
Fiscber left her job at the haute couture 
atelier of Munich’s Max Diet! last year 
when she found a small shop just off the 
Place des Victoires in Paris where she 
could open MM Tailleur. Specializing 
in suits. MM Taideur’s hand tailoring 
attracts a unisex clientele who frequent 
the nearby Kenzo. Cacharel and Vic- 
toire boutiques. 

On the crest of this wave is Helmut 
Lang, who will launch a custom-made 
atelier for men and women either in the 
new shop he is opening next fail in New 
York's SoHo. or at his headquarters in 
Vienna. For Lang, whose fashion career 
began with a made-to-measure shop he 
opened in Vienna in 1979. the atelier is 
a return to his roots. 

“I’m not interested in a couture state 
of mind, but I think there is a new need 
for qualiry and individuality beyond the 
current retail equation,” says Long, 
who admits that the business will be 
small and that the service will “cost a 
fortune.” 


suaded to take on more- band-tailor 
techniques,” he says., 

' Much more accessible: than custc 
tailoring is made-to-measure. “It isni 
new, but the customers. and designet 
involved are,” says Peter Rizzo, vioj 
president and general merchandis 
manager at Barneys Ntrw York. * ‘We ‘ni 
Veiy gung ho on it.” ' ■ i j _ ; 

Barneys is set to launch a made-lo- ’ 
measure' program with • London’s 

# Timothy Everest. Allawing numerous * 

* modifications from lapel widths to fab-! 
rics, and including eren Some hand4 
tailored details, the program/ accordi ngt ' 
to Rizzo, is “for cool guys willing ro$-> 
spend only about 20 ptrcem more than** : . 
they would for a ready-to-wear smL * ’ f . 

Everest, who beganMs career withr^-- 
the celebrated Savile Rcwtailor Tdramy&.i 
Nutter, opened his ba|»akfi,;shop six^V 
years ago. “I opened aidar away fromj . 
Savile Row as I could, ' 'he says. “I felto- . 
fashion customers wafted -something** •. 
more than ready-to-wea* and that a mbC- 
of fashion and bespoke .a^even made-to-4 - 
measure was the next lexical step. ” . J ' * 

HILE the aid hush-hush^ 
houses on %vjle Row, are z 
hist hpoinnifl tdleamlrow£ 

wftbsto-v - 
CaryGrantJ 
r names*' ■ 

iy:— like* . 
ist includes 
ofOasjsi? 
focouhtXiri-*. ■ 
James*; . 
within 

' i- in.* 




IRK Bikkembergs has also 


just be; 
to work the: 
ries of the glory days wl 
was a favorite cost 
have impressive clients 
Richard James, whose 
everyone from Liam G 
to Tom Cruise. Mad 
ley and Christian 
opened a ready-to-wear 
New. York’s BergdorL y/v w ii um uifu. 
March, but bespoke still as punts for 30-jtfj, 
percent of the business his Savile ^ ■* 
Row shop. “We’re compseW^Iassic,*; 
bur we Ye modem.” he says). This j . 
means, for example, a cho e of lighter? 
fabrics and more interesi ig ; patterns 
than at a traditional bespolfshop. 

Marc Griffith discove 
built-in clientele for besp 
when he opened his shop j 
ago across the street from j 
in London. Far from Savile 3 
cozy club style of most u 
his streamlined atelier looi 
an art gallery. Griffith will < 
ready-to-wear collection pre 


caught the hand-tailoring bug. hand-picked team of crafts 
The Belgian designer recently Ozwald Boateng shows 
hired an assistant who spent English-tailoring-style 


Ll 'CIE MUIR is a fashion writer based 
in Milan. 


Customized cuts from the kings of made-to-measure (clockwise from top 
right): Ermenegiido Zegna ‘s cashmere cardigan jacket and cashmere 
overshirt ; striped tie. shirt and jacket in Marzotto' s Principe line: sharp 
suit by Ozwald Boateng; a Marc Griffith model at his London atelier. 


seven years on Savile Row. “As a stu- 
dent I was preoccupied by creativity,” 
says Bikkembergs. “I'm now more in- 
terested in how things are finished.” 
Alexander McQueen, who shows his 
men's collection with his women 's wear 
in London, began his career on Savile 
Row and says it remains an influence on 
eveiything he does. McQueen, who is 
responsible for David Bowie's look on 
and off stage, custom tailors men’s 
clothes for a few friends. “I think fac- 
tories need Lo be educated and per- 


And What About the Hong Kong Tailor? Not to Worry, He’ll Survive 


By R. Jane Singer 




& 


Jf 






Naiilx A 1 * m/IHT 


H ONG KONG — Is the hand- 
over of Hong Kong to China 
going to change the one thing 
businessmen want most as a 
side benefit when they visit here: the 
suit? The answer is a resounding no, 
according to the city's tailors. 

Regardless of the government, busi- 
nessmen will continue coming to Hong 
Kong as long as there is money to be 
made — and why not? Many of them 
have been trading with China for years. 

“I have no apprehension about the 
change in government,” says Manu 
Melwani. who runs Hong Kong’s best 
known tailor shop, Sam the Tailor. “I 
think it may be a good thing for those of 
us who have a solid base here. There has 
been uncertainty over the past decade, 
but now the future is sealed and we 
know that things will not change over 
the next 50 years.” 

The- tailoring business got its start 
here when the British established Hong 
Kong as a military garrison and naval 
base, bringing their own tailors, with 
their legendary high standards. These 


master craftsmen employed local men 
as assistants to help make dress uni- 
forms for the officers. When the re- 
giments departed, many of the local 
tailors set up their own shops, founding 
the present-day custom tailoring trade. 

Melwani 's shop in the Tsimshatsui 
tourist district became famous in the 
1 970s when questions were asked about 
it in the British House of Commons. 

The shop was then ran by Melwani ’s 
father, Nariandas, who had been given 
the name Sam by his British customers. 
He had been making suits for the Duke 
of Kent, who at the time was heading a 
drive to get the nation to buy British. 
Were there no good tailors in Britain? 
asked the Labour Party, making inter- 
national headlines. 

Sam the Tailor has also made clothes 
for other members of the royal family — 
suits for Prince Philip and a blazer for 
Prince Charles. Linea with phoros of the 
rich and famous, the shop is a stop on the 
tour for visiting movie stars, sports fig- 
ures, pop singers and other celebrities. 
The film star Pierce Brosnan has his 
shirts made here, phoning from abroad 
when he needs new ones. 

Part of Melwani’s success with ce- 


lebrities is due to his discretion. Meas- 
urements of his famous clients are kept 
in a locked cabinet in his office. This is 
in the Hong Kong tradition. Other tail- 
ors declined to be quoted about their 
customers, although one said he had 
once been dispatched to measure 
George Bush at his Hong Kong hotel. 

I F Hong Kong’s tailors seem un- 
worried about losing Western cus- 
tomers due to the change in sov- 
ereignty, this is in part because 
their customers are in any event in- 
creasingly Asian. 

U.S. businessmen and servicemen 
once made up most of his clientele, says 
George King, manager of British Tex- 
tile Company, one .of the city’s finest 
men’s tailors. But now times have 
changed, and so have dress codes. 
“American men now dress more cas- 
ually, so they don't need as many suits,” 
King says. 

Today his clientele is split evenly 
between local customers and foreign 
visitors— with the foreigners now com- 
ing from Asian countries like Japan. 
South Korea. Thailand and Indonesia 
Despite new wealth, few mainland 


■he had a*; 
tailoring ‘i 
few years -; 

‘Lynch*, 
iwaod the*] 
’shops,*! 
• more like 
■launch a 
iced by a S 

sharp j 

_ , ..^-to-wear^i 

on the runway in Paris, has.&hop next 
to Savile Row in London i,Jid counts 
Mick Jagger and J amiroquaiimong his 
clients. Boateng is probablpthe raostj 
flamboyant of the new besptys tailors. 

“I have trouble with customers' who *4 
say, ‘You’re so thin — thatYwhy you 
can wear that suit.’ ” says tie. damper 
■ Boateng. “They don’t undertand that ^ 
bespoke helps men look their asst” *’! 

’ ;! 

REBECC 4 VOIGHT is a PaCs-ijdsed m \ 
journalist specializing in fashart.' j 

*i 

J 

1 

'says-. N 


* 


ft 


Chinese frequent his shop. Kin$says>. "4 
“They want to buy ready-ma& gar- U 
ments from famous names.” I '• *2 
For decades Hong Kong tailorshops 
have been known for their abii’ty to 
whip up a made-to-measure suits) 343 
hours. The fast and fastidious taiiring J 
was the work of tailors from Shaifehai, *5 
said to be the best in China. Althafeb it 3 

is still possible to get a suit madiun a *4 
day. King says that for good qualiifclie S 
customer should allow three weekf 3 
And what abbut those Shanghafeil-3 
ors? According to King, manv olihe-l 
tailors are now|from Hong Kong mee i 
the original Shanghai tailors are gefirfg -j 
older and the ybung people don’t jfent “I 
to go into this business. Nowadaysfess $ 
expensive suits! are cut in Hong King 4 
and finished in China, while better qfal- % 
ity suits are curland finished here. 7 '4 

ci ani S Brit f sh Textiles cost abut j 
SI ,300, but cai go as high as $3m 3 . 
out, as King nates, “Custom tailorsin; *i d" 
not for bargains; they are for quality; 1 ^ 

R- JAVE Sll\ C£ 7 J lives in Hong Koig. 
iW/e/ e she is editor in chief of Insde *5 
rashion, a newspaper far the intTr "'l 
national fashiot^ industry. , ‘ ^ 


am 



\ypji J LM 









i icx i a y [i\'n n ; i a w n y a i a >k v i o^yj a net ota >ta v i 11 1 





































































PACE 18 


AMEX 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2. 1997 


U. S. STOCK MARKET DIARY 



INTERNATIONAL FUTURES 


Tuesday’s 4 PJfl. Close 

The lop 300 most odlw shores, 
up to ttie dosing an Wan Sired. 

TJiBAssaaatBdPwss. 

Sore safes ftp lm LaM dtp 

AMC 197 ISM IT's 17ft 

MC H7 fit 4% Hit 

ASM Fdd life 2D 19H It 

AHHFpf . Hi M » » 

A vie Gen Ml »| 3 n 

Msq>i i3 ms ii m 

MAM IS) III IM 1% 

tana tot in in It 

WM 2» M 1 m 


ssr 
sssr 
i » 

MUM 

{WP* 

& 

Weftfl 


AST* 


BayMre 

ns. 

BkRA 

BUCb 

BefTdia 


Baton 

hng 

CFXCp 

am 

GaMna 

QjMnpl 

OM 


Qnortre 

oea 

CMIHr 


1H 


n»% ion 

7Y» Sh 

zn 
M 
ibs m» 
m 7 

lit 11% 
1M 1*% 
iu% in 
Mfe 4ft 

m w% 


lift 
Vlk 
ma 
A 

Z78% zn 

tfe 


+% 


BT 


DnHB 

flcETSM 

EZSmr 

ttMaj 

EAb* 

EIPbkE 


ROW 

FMfedAn 


FmlSM 

5??* 


fs m « Ant 

US M 21 Xi 

240 ft ft ft 

2145 4h « Aft 

m n » n 

« KH U TM 

172 W U Uft 

XU ft S SU 

ISO ID 17* II 

277 240% 34V% W% 

IIS XM 21 Mft ft* 

a » » » ft 

us 21 m 190% -n% 

497 70% 71 W A 

« in Mi m •% 

3D 27hi Z7 V */• 

771 ft 1% 9» -ft 

221 lift lift 111% -ft 

»l A » 4M -« 

m mi tm mo ft 

IM 7ft n 21% -v% 

991 -1ft I ft 1ft 

W M UK B ft 

VI? M 3ft » ft 

fill 91% 2% 91% 

4ss n 2i?% 21% -«% 

in in i a ft 

714 72% 111% 12% -1ft 

ixa im in% iau -m 

« n% m n% ♦*% 

278 »% » 50% ft 

374 14% Uft 14 ft 

ID H M Hi ft 

342 m nvi 12% -ft 

MD IM MM 140% .«% 

SU S0% S% 5% 

1547 SV% S ft -V% 

133 2H 7ft 2»% 

5H9 M 4ft 4ft -V» 

IM 1 4% 1 

271 11% 11% 1ft 

118 Sft IM l*ft ft 

299 271% 3M 371% -*% 

1® HO% NH 10% ->% 

127 % 0% M *1% 

w in it wft *w 

LB 110% lift* U«% ft 

HQ 1IM HM «% 

171 ft ft ft 

Vt 0% 7% ft 4% 

250 9% 3ft* 59l vft 

244 91% 9% 91% -b 

us 7% «% n% 

to lift 10% IM -ft 

m m mm mow *«% 

478 0% ft V% -V% 

XK 9%a 9% M ft 

■ ISO 1S% 19% ft 

94 14% IM 7M -ft 

IS# ft ft ft *1% 

W 3ft M M *% 

S I 55 54ft 55 4ft 

S 10% M 8ft 

Tfli ft 9ft 9% .v% 

19 130% 12ft lift »V% 

19 18ft 17% Uft +% 

RD :Vf. 40% «% 4ft 

ZKU 42ft 411% 42 -1% 

IB 1ft 2 ?V% 

91 Sft ft Sft 

919 141% IM 14% -ft 

1223 10 9% 9ft -ft 

TO 40% 4ft 4ft 

1W Bft 79% 8ft -ft 

<18 191% 11% Uft -lift 

10*2 35ft 34ft JS 41 

«1 33ft 32% Oft -ft 

4» 17% ISft 18ft -1ft 

142 14 lift 130% *v m 

Sil 31% Jl% J» *ft 

S ift 14% 1ft 

m sft m 

KB ft ft ft _ 

IS 2711 37ft 27ft -ft 

a?* 4ft Jft 4ft -V* 

l» 4ft 4T» ■«% 

957 741» 23*. J4 

237 8% Sft 81% -ft 

SIN 1% 1ft 

S i* A 

19 S 4A 4ft -ft 

9 8 fi P A 

UA 3ft 7 7 ft 

U5 23 22% 22% -ft 

233 Oft Oft Sft *% 

221 Aft 4ft 4% -ft 

M3 110% lift lift -ft 

s r r r 3 

s a. ■a. *» - 


KFXkK 

IdttM 

KCOHt 

*53* 

uSSu 

LfBtn 

LdfaftK 

MAJS* 

UHMSsv 

Msalret., 

*---—11 I 

Mn gNMn 

(LJhuAja 

MPv“ 

MOTaHia 

MnaSod 

mas 

£&» 

Sftm 


MSAnoB 

M5NK0M 

ssr 

BSP" 

MttnJid 

irraoxn 


NY TOSH 
HeOriHB 
HA Vote 


1 (knllWt 
1 Ontrr 
nfiDi 

Js 

PMC 

HKCT 

PWSPMB 

taGi 

PouaC 

PfeOGU 

B»" 

PUM 

Ptaaod 

PftCUBCI 

mix 


PKOl 

PiMi 

PnoCTi 

as 

PKMT3 

BFRn 

SES- 


BSf" 


«Sta n 

SPUR 

SPMId 

sftmcfl 


TKonfc 

TftnRi 

TMbS 

ortOft 

IftnoM 

K 

fss* 

THAN 

TWA 


.Tabltet 
1/71 En? 
iw*% 
Uta 


IUMN 

IBM 

[Q8 

_ ns HU 
WMm 
VKScS 
Vtacon 

Hi 

vtmc9 


n h« la im Or Indexes 


Dow Jones 

a*n 

inffltt ims 


1% ft 
3ft 7ft 
«U Sft 
Sft 40% 
m 9% 
3% Jft 
W 9ft 
M S 
1<1% lft 
JH Id 
Uft 15ft 
izft in 
a 2i% 
in n% 
TH* lift 
3ft 3ft 


IN 

-ft 

119* 

+ft 

9% 

•ft 

21% 


71% 

+% 

n 

tft 

54% 

+» 

TIN 

4i 

IB 

-H 

2ft 

-ft 

4 

-H 

H 

t«% 

J% 

-% 

lb 

*4% 

2ft 

-ft 

5 

-ft 

Sft 

-*% 

10 

•% 

ft 

-ft 


Most Actives 
NYSE 


July 1, 1997 


Mg* Urn LflWt Chg* OpM 


mgb Lot Lohat Oi9« <JpW 




Comp 2369*87 238S42 3 

Standard & Poors 


Tronsp. 
UUHcs 
Rnonce 
SP 500 
SP«» 


NYSE 


Roam 


Nasdaq 

Ctapaaft 

btaniAi 

Snurance 

Hano 

Tramp. 


Hiffe Lot QB8 4 PAL 
105BjT5 1 C35j04 1 (M2.98 1048JM 
413523 62196 631.99 63&S9 
199.07 19M1 198J9 19184 
101-73 100.13 1CB.13 101-76 
89X62 879A2 885.15 891.04 
869.02 85643 861.1? 86844 



<4694 
591 JO 
<1934 


t u <46.01 4057 

n S90JI1 4X98 
a 419.19 tow 
12 2SSJ8 +0J4 
42 UC 42667 4567 


1«KM 143X59 743625 -349 

mm 117R22 lIBLII -U7 
163099 WUS 142997 41474 
I455.4S 14CJ7 I455A5 48X0 

1917456 19037 1917JS 4&1B 

77044 K183 «P.m 40 


lift 18V% 1H 
19ft 19ft Wft 
4% 4 4ta 

9% SU Sft 

% ft ft 

4 2ft 3ft 

in it n 
22% 2th 21% 
Uft 14 Uft 
VPft 18 lift 
17% 17 17ft 

78% 7% 7ft 

13ft 12ft lift 
4"4 4ft 4ft 

3ft V* ffi 

7ft 7ft 7ft 

3-ft m 3% 

3 p.% z% 

HM IM 1W 
ISA* 15 ISft 
lft i% n 

ift i in 

2ft Ift 

22ft 21ft 

n n 

9 1% 

4ft M 

7ft 7V% 

15% 15i 

12% 12ft 


* 1 % 


AMEX 

Dow Jones Bond 


Hfe* lav UMT QW. 
425-53 621.36 62155 4U 


HOBomh 
lOUfiBifss 
10 Industrials 


Pl%«i«%i TwLj 

am Neon 

10X96 1BUQ 

100.12 loait 

10580 105-91 


Nasdaq 

Staphs 


MO 

vwseiv 


AMEX 


SPBS 

Horler 

TWA 



*h 


K 


2ft 
22ft 
1 % 
88 % 
Aft 
7ft 
15% 
12ft 
4ft 

ft ft ft 

wm 9%% n% 

24ft 26% aft 
45ft 43% 4M 
11% lift 11% 

35% 34ft m 

2ft Ift 2ft 

IS IB 

an* a 

lift lift 
4 3ft M 

M 6 M 

M 1ft >% 

5ft Sft 5ft 

ft * ft 

891% Bfti Uft 
50% 55% 54ft 

lift 

V 

16ft 
aft 
in 


Trading Activity 
NYSE 


unchanged 
TaM fauns 
NMHIgtK 
Newlxws 


Nasdaq 

PlWRi 

1531 Adraicad 

1306 Dedbied 
558 Unchanged 
3395 Total issues 
317 Ww Wnhi 
- NevLoin 


13 


Uft 
2) ft 

lift 


AMEX 

Adranced 

Uodned 


Dividends 

Company 


Martel Sales 


178 Aims 


Nasdaq 

InmlUons. 


Per Amt Rec Pay Company 


Grains 

CORN (CBOT) 

MBOhji H %nin%an>- own s per Dufll 
-M97 WVt 241 M3W. -<W 39L7DD 

Sep 97 7m> ZSVt 233 -5 57,918 

Oec97 -BPi. 332U OT= -5% ULH2 

War 58 105H 3016 MM -5h 2X571 

Wav 98 3491% 246 Mi -5»<k 2JM 

AH 98 25315 M9V MW# —AM 4478 

S«P 98 249 J4SV5 24555 -4ft 230 

Efi.sries ALA. Man's. sa*H 191,977 
Mon" sccen ini 271018 aft 6139 

SOYBEAN MEM. (CBOT] 

100 tons- dailan P«r tan 

Jul!7 ZftJO 24X00 24620 —1180 I3,7J3 
Ais97 23600 22020 222.M -U18 2U91 
S8P97 217JB 20400 206310 — HWO *UM 
0097 205 DO 19X08 177 JO -TUB 13,005 

Decw mso U7J0 WIJ» o XUS 

Jon 98 178D0 18650 UUO -9DD 150 

•Bi. safes NA Man's safes 36846 
Man'tgpental WSJB 1 up 2^8 

SOYBEAN Oft. (aon 

60*000 Qm- cents mxi) 

AH 97 21 JO 2U7 Zl<2 -437 7,166 

Aug 97 21.94 21 JO 2UB -637 27 AH 

SEC 77 2205 21 J2 2L73 '—029 1X303 

0377 2201 21J6 2UB -035 VM0& 

Dec 77 2215 21^5 71.91 -029 wyono 

Mi» 2225 2103 2203 -Oil 4.165 

Ea.sahs MA. MoTl soles jua 
Wartopwirt l,mj22 up lmzon 

SOTBEAWKBfTl? 

SDOOfau nMmwn- cam par tantwl 
JU97 775 
Aug 97 722 
Sep 97 642 
Nov 97 611 
Join 615 

Est. sates HA. Mon's, sates 63J61 
Z MantpenM I37J09 aft 517 

WHEAT (CBOT) 

&000 bu mMminn- oafs per hushtf 
AH 97 32S 322 3ZZK -1ft 7DW 

5SP97. 336 336ft 331% -% 38J2S 

Dec 97 341ft 343ft 344 -Ift 31,381 

_ »or» 35<ft 351ft 352ft 4J6J 

P JT; Esf. safes NA Man's, utes 3U73 

1^? 1747 Msn ^ aM^in, HL3 » up 33S 

3127 ISM 
5441 5733 

"A 3 iS Livestock 

CATTLE (CMERJ 

<OJtao ta- cents par fc 

- AW 97 66.75 6130 6162 .0.1? «USZ 

0097 67 JO 4745 0X1 MASZ 

Dec 97 7020 7035 7077 —007 MJM 

“JS R*n 72. W 71J5 71.92 -010 4^82 

.“•S A4T9B 74.02 7X67 7185 -017 1180 

637.02 Jui9B 7U0 69 JO 7010 I JIT 

Est sates iukj Man's sates 17.957 
Man's aom inf MD77 up 945 

FEEDER CATTLE ICM3) 


Hft* 

%* 

LOM - 

•ft 

38ft 

29% 

30ft 

tft 

899% 

B8aw 

B»» 

tlVte 

7 

*8 

4*v» 

-ft 

Sft 


8 

-9% 

lift 

lift 

119% 

+»1 

■V* 

9% 

9% 

•ft 

firi 

4ft 

4ft 

+4* 

lft 

l»* 

11% 

-V* 

19ft 

im 

19ft 

+>*% 

14ft 

149% 

14ft 



713 

732 

—39 

14X70 

675 

681 

-37ft 33423 

ifl) 

612 

-a 

11X78 

585 

580ft 

-28 

60X21 

590 

594 

l-27ft 

HL748 


.lft* 


-ft 


11% 
n 

7 

141% 

22 

l>% 

1*% 
ai% 27U 
38% im 
Ts ft 
4ft 4ft 
■Ms 151% 

a 24ft 

10h 10% 

8% 20% 
12 lift 
14V. 124. 

15ft 15% 


121% lift 
5ft »■ 
lift IM 
47>i 45ft 
4V-. 4ft 
1'V 1 

5 4% 

Vi 4V. 
lift lift 
«u w» 
29*% 2M 
Ift HI 
17% 121 % 

ini ii%% 
2KT. 28ft 
lift 28% 
1-» 11% 
1% 4% 

1. 0% 
II 17ft 
4 

lift. 

iat 

4*i 4% 

11V. HPV% 
lift lift 

174, ITU 

’6% IM 
141, 144. 
■n.% IT 
7>1 I? 
14V. 14ft. 

E iP 

« sj? 

i? ii% 
17% Uft 


111% 

10ft -ft 
7 

16ft .ft 
71“** ■*% 

l*% 

14. +ft 

a -8» 


IRREGULAR 

Virginia Gas -31175 7-15 .7-31 


INCREASED 


Wton-ObneSfrc 

M MS 

7-15 

8-1 


OMITTED 



Cambridge Shop 




SPECIAL 



Cerbcalnc 

. 1X0 

7-15 

7-30 


INITIAL 



Boeing Can 
Castte Energy 

- .14 

- .15 

8-15 

7-11 

9-5 

7-15 


REGULAR 



BkkRck AdvTrrn M .052 

7-15 

7-31 

SfcLfickCA 

M .0731 

7-15 

7-31 

BkkRck FLI 

Aft .06 

7-15 

7-31 

BtkRck IncaTr 
BfckRck Inv 

M .0468 

7-15 

7-31 

M JCM79 

7-15 

7-31 


BldcRck Mun 
BIckRdt 1998 Trm 
Bld(Rdc1999Trn 
BldtRcfcNJ 
BIckRdt NY 
BWtRcfc NoAm 
BIckRdt TargTtam 
CNF Transport 
Duff Phdp urr*Fr 
FdCorSuSeHtb 
FstFronkHn 
Harvest Home 
High Yld Income 
I nfendnfe Bakeries 
LCS Indust 
Muni Atfv Fd 
NewYork TxExmp 
OppMuttSed 
OppWridBd 
Ponobacol Shoe 
Pfiflrtm Am Prrt 
OoHmes Indust S A 
Santa BarbBngi 
SlrnyerEducaltan 
Wi-lllngton Props 

Winn- Dixie Sirs 
Winn-Dixie Stre 








Per Are 

Rec Pay auoV7 

HUB 

80X0 

H145 

+0X7 




SflDta 

HI H) 

19.95 

8092 

-0X7 

M .0512 

7-15 

7-31 

Od97 

'to JO 

8007 

80.90 

-035 

M .0416 

7-15 

7-31 

Noe 97 

rare 

81X5 

82.17 

-015 

M .0333 

7-15 

7-31 

Jan 98 

83X5 

32-12 

87.0 

-am 

M .0578 

7-15 

7-31 

Marta 

83.10 

tom 

B2XS 

— flfl? 


7-15 7-31 Est. sates <JD3 Atari's, sate, SJM 

M .07 7-15* 7-31 MWsauenM 21A78 aft 320 
M JM79 7-15 7-31 


Q .10 B-15 9-15 

M J» 7-15 7-31 

Q JO 7-15 7-30 
Q .06 7-3 7-21 
0 .10 7-15 7-31 

M JJ6 7-15 7-31 

8 .125 7-15 8-1 

D375 7-11 7-25 
M .0666 7-17 8-1 

M JJ33 7-15 8-1 

M J074 7 11 7-25 
M D56 7-11 7-25 
0 IK 8-25 9-15 
M .0695 7-10 7-22 
>.1925 7-16 7-17 
0 J3 7-23 8-13 

- .0625 7-11 7-25 
Q 2125 6-3® 7-15 
M .085 8-15 9-2 

M .085 9-15 10-1 


HOGS-Uon(CMER) 

40000 tea.- am per ®. 

AH 97 8L4D BX52 83J5 ->1.02 

Aw 97 EJC 81.10 8US -060 

Od 97 7450 7X60 iUO +028 

Dec 97 7080 7000 7tL S +072 

Feb 90 (935 <8H0 6880 +042 

EA soles 11434 ManB. sates 4J67 
Man's Open int 3&3M ofi 462 

PORK BELLES (CMBZJ 
404)00 B&- note ptr b 
AH 97 87.41 8X70 8467 -05 S 

Aw 97 87.80 B2J07 8480 -027 

Feb 98 7555 0955 7XS0 +0,95 

Ed- sates 2,979 Man's, sates 397 
Man's open inr 6.T40 up 5 


Food 


L482 

ItJTU 

7.R4 

4867 

2JB5 


... II 

Sft 4 
104% 11'% 




Slock Tables Explained 

Sdes figures we unofficial Yearly highs and lows rafted rhe previous 52 vteeks pius Ble amorrf 
week, tut ngHheMtasnrading day. Wlm a spBarslock dMdendaniuTOng to 25 percratfor mare 
tun Been ptTid, the l«H5togti-low range and tfihdend on? shown fur the new stocks arty. Untess 
otherwise noted, totes of tMdands me annual tfeMsaiwils based on the latest dedarnhoa 
a - dhridend also extra (si. b - annual rate at tfiwtend plus stack dhrlderuL c - liquidating 
dividend, cc - PE eicceetk 99.dtf - called, d - new yeorty law. dd - loss in the lostf2 months. 
• - dividend declared or paid in preceding 12 months, f - annual rate. Increased on last 
dedaratfon. g - dividend In Cdnadton hinds, subject to 15% non-residence tax. i - dividend 
dedared aHei split-up or stock dWdtmd. i - dMdend paid this year, omitted, deterred, or no 
action taken at latest dMdend meeting, k . dividend declared or paid this year, an 
accumulative Issue with dividends In arrears, a - annual rate, reduced on last declaration, 
n - new issue in Itw past 52 weeks. The high-tow range begins with the start of tradkig. 
nd- next day delivery. p-inKiat dividend annual rate unknown. P/E - price-earnings ratio, 
q- dosed -end mutual fund, r- dividend declared or paid in preceding 12 mantbs. pius stack 
dividend, s - stack split. Dividend begins with data at split, its - sales, t - dividend paid a 
stack in preceding 12 months, estimated cash value on ex-dividend or ex-rSstrfbutton date. 
■ - new yearly high, v- trading halted, vl -in bankruptcy or receive rah ip or being reorganized 
underttie Bankruptcy Act, or securities assumed by such companies, wd -when fisTribufed. 
wl - when issued/ ww ■ wtm warrants, x - ex-dMdend or ex-rigirts. »Ss - ex-disMbulion. 
xw- without warrants, y- ex-dMdend and sales In fulL yW - yield. I - sales in full 


COCOA (NCSE) 
ta mevtc turn- Spur ton 
Jul 97 1AM 1654 

1658 

-26 

148 

Septa 

1735 

1478 

16A5 

—78 

39JI0 

OfeC 97 

1777 

1724 

1730 

— 76 

21.964 

Marta 

1803 

1760 

1760 

-n 

22X35 

MOV 98 

1815 

1780 

1780 

-21 

9.678 

AH9B . 

1827 

17W 

1796 

-20 

961 


Est total 13458 Man's sates 4J77 
Man's open ire 107,616 ub 1015 

COFFEE CCKCSE) 

17,500 feu.- cants oer Kx 
AH 97 2Q3JD 19SL5D 19450 +410 
Sep 97 1845D 17100 T75L25 -285 
Dec 97 16200 it? M ISfilS -KS 
Mar 98 14485 14100 14125 +24) 
May 98 KUO 13700 0825 +225 
Es.sdes 7.167 Mon's, sales 1293 
Man's open im RUM aH 211 

SUGAR-WORLD 11 (NCSE) 

1 IIAOO Bb.- cntimr Lb 


ORANGE JUKE (NCtM) 


Moo's external 3W44 aft 05 


3-MONTH EUROURA (UR®,- 1 -'.: : - r - - 
tTLInMan-ptsoMOOiKt ' 


«) 


LOWS Clt-T (UPP6)- 

taflwW^Berta. ftO-22 144986 S«p97 “ WJH 9US "93* tWlKTO 

L 1 ? H 55 ^ r&B NT N.T. U *«1 5 k97 9191 nM'M&m* •..%& ' : 

Sep 77 7LS0 7KI5 7i9D — 6L5D WiM Dec rJ n.t- .. /J7 uwod o/i7 a# a* axrr-j. m# ZmTZzl . ■*. * 

SS 2S SS SS 33 ts SSESfMT-tf^ 

l+YEAR FMHCH oo». WNOS tMATIR 

sri/sisf 0 ™- 

Dec 97 9728 9726 WM ♦AM 0 

Mar 98 97.18 97.18 9742 +0-« 0 

EsL sates: W05S4. _ 

Open tot: 20X250 off 4239. 


Metals 


Mar 98 9417 . 9408 94T7,-<«4 MU 

An 98 ' 9434 9434 943^*1®} xSS 
Sap 98 9442 94» -. 94 ^ 1 : *3& ' 

Doe 99 W+tS -OUT. tttf +35 Sff" 
EA soles: <47% Pte*. sates: ftJa'r • 
Prav.apen ht: 331 J32 off 10 


COLD (NCMX) 

taOMr aoUarirwr ftnvez. 

JD197 334D0 — 020 3 

Aug 97 33580 33460 335.10 -420 100,126 

Sep 97 33620 -03 

0097 33823 137.10 B2A -QJO 8^62 

Dec 97 36030 X3920 33920 -030 31778 

Feb 98 34260 33L60 34280 -043 9,133 

Apr 98 34430 —0.40 4753 

Jun9B 34730 34608 3C680 -OJO .8,187 

AW98 349 JO -4JB 7*4 

Estsates NA Men's. sdes 37.802 

NWsmeoW 1943*1 OR 512B 

MGRADECOPP&R OfCMJCJ 
Emm-CMINrlh. 

AH 97 Ilia UUO THIS —1-51 7.M 

Aon 97 11220 UUO 11025 -190 2858 

Sep 97 TT2J5 10930 U0A5 -2.10 22J45 
0097 WAS -SJB 1 XI 

Nov 97 1Q725 -2.W 1JD6 

Dec 97 HP JO 10655 W4H -W» 6,758 

Jon 98 10495 —120 689 

Feb 78 10395 —420 544 

Marta 10400 KBJB HOIS —150 2JQD 

Estsates NA Mon's soles <J67 

MBfSGMAM <9209 up 130 

SILVER (NCMX) 

54XV rrov o*.- art* per ferny ox. 

M9T <6400 462.01 46U0 +3J0 3/80 

Sap 97 471X0 Mm *PM +3X0 S5A98 

Dae 97 477a 471X0 <7470 +3X0 U9M 

An 98 47460 +10Q 18 

Mor98 48150 47E5D <SL4S +3X0 8.975 

Movta 4(5X8 +ltffl 2JB37 

Juita mm +3X0 1,986 

Septa <9430 +3XB 685 

ESL sales NA Man's.RHes 32,979 

MocTs open ire 91277 m 3606 

HJOTNUMtUMEJO 

SU any at- doam per rer del 
A d 97 426X0 42U0 <2090 +SM 2J22 
00 97 422XD 41058 <1190 -090 11291 
Jon 98 <1320 <0390 4D330 -390 1239 
Ed. sates NA Moo's utas 2,7<l 
MreYsopeniM 15282 alt 62 

Oosa PrevtaM 

LONDON METALS OME1 
Doftm par metric too 
Ataanam (Ha Grade] 

Spa ISffiJM 1586X0 T568W 1569V, 

Forward 1607X0 1008X0 1590X0 1591X0 

Cawar CDteBdas (Htak ernde) 

Spot 2533X0 2543X0 154400 2569 DO 

Wirt 2404X0 2«BX0 2421X0 2422X0 

uad 

Spat 626X0 627X0 $1<fe 61 Sit 

Forward 63X00 439X0 427X0 62&00 

MM 

spd 6820X0 6830X0 6750X0 £160X0 

Forward 6990X0 6940X0 4840X0 4865X0 

Tbt 

Spat 500X0 5500X0 5520X0 553000 

Femoid 5543X0 5548X0 5570X0 5580X0 

JSuc ppedat Mgt Grate) 
sad 1430’s 1439ft 1414X0 14UX0 

Farwonf UflHt M4Ut 1415% 1420ft 


Imfcrstriiite' 


COTTON 2 (NCTN) 

JOOOO Erl- cards parli. 

Jut 97 73J7 TIM 73JS. 




ITALIAN COVERNMENT BOND (UFFS 
rTL2D0mffioo-pT5Of lOOpct 
Sfep»7 13447 13177 13440 +&40 WW i 


Oac 97 T0&78 106J0 106X4 *0X9 
Esl stfas <8.741 ftev. sol es : 4 4J S 1 
Prav.opmM- 700074 up 1.256 


270 


EURODOLLARS (CMERJ 
Si mBSon-ptsd 100 00 . 

AH 97 9(21 9418 9421 


0(297 7MB TIE 71U 1 Jm 

Dec97. 77E 7671 JSSl- <uj 7 - 

Marta 7gJD 77.05 -w- Jet yjo ■ 
Meyta 7895 . 7W .71*4 -=M ( 4^0 - 
Est sates NA Mon'jjate 
Mon's open ini (1191 up S2 

HEATING 08. OLMGR] . 

42X00 od. certs nar od 
Aug 97 55.10 5U0 54M 


AI097 9418 

Sep 97 0415 
Dec 97 9196 
Marta 9187 
Junta 9175 
Septa 91E 
Dec 98 92J3 
Marw 9151 
Junta 9147 
Septa 9043 
Dec 99 91» 


9415 

9411 


9417 
9414 
9195 
0178 93X5 
9166 9174 
915$ 9166 

9146 9152 

9147 9150 

9338 9146 

7134 9342 

9136 9135 


-001 41,906 
+101 0232 
*002 574214 
-QXS 434X03 
+105 209,456 
+006 244634 
+0X6 201740 
*00$ 144797 
+006 1T0J92 
+0.06 66X47 
+0X7 71534 
+008 67X67 


S«P 97 SSI 
Od7? 5430 
Nov 97 SM 
DM 77 57J5 


5440 HJ1 
5S30 -. 56X1 
56X0 5476 
57. ra . SM 


!i-V 'i : 

■HBG-taXta • 

14709 . 

0X62 - 
15+07 

arse , 




\y.. 


Ed. sates NA Moo's, sote 418X33 
Mafsepeninr 2X44X60 up 14247 

BRmSH POUND CCMBt) 

4UW pounds, S par mM 
Septa 1.6644 1X498 1X554 
Dec 97 1J560 1X4« 1EB0 
Marta 1X160 

Estsates NA Men's. softs &544 
MafscptnM 55X55 up 1309 

CANADIAN DOLLAR KMBO 


55X72 

S81 

I 


High lot dose Chg* Optor 

Financial 

UST.BALS KMSO 

SI mSCaa-ptSar TOOpd. 

SCPta 94B2 0478 9480 7^9 

Dec 97 9459 9459 9463 +0X3 440 

Marta 9450 -0X2 4 

Est. sates NA Mon'LSOteS 364 

Marts open tor 8X23 up TO 

5 VS. TREASURY (CBOT) 

SIOUWD nrln- pti A 44tfn (H 100 pet 

Septa 106-15 UB-53 106-12 + 19 212JS0 

0«ta M5-5B + 19 1X34 

Mar 98 -01 

Esr. sates 74X00 Alton's, sates 51X16 

Man's anm H 713X36 off 667 


Septa 7284 Tm 72W 
Dec 97 7322 7310 7321 

Morta 7355 7253 .7352 

Estsdes NA Morts. softs 5+JS5 
Marts open tor 42X07 off 1832 

0BIMAN MARK (CMSU 
nSOTli inUfc s p ar made 
SSPta 5782 J750 J756 

Dec 77 JB15 XB07 J795 
Marta ■ -5834 

Est. softs NA Marts, sates 32,117 
Alton's open tot 88X42 up 1HH6 

JAPANESE ret ICMERJ 
rtLSmWon van. s per 100 van 
Septa X823 X77) X7W 

DSC 77 X927 XU2 X915 
Mar 98 -9032 

Est. sales NA Morttsate* 11.00 
Marts open tot 53740 off 4107 

SWISS FRANC (CMERJ 
rtSJBOO fma. s par <ranc 
septa X918 XNO X88S 
Dec 97 am x99 m» 

Morta 7(01 

Ed. softs NA Marts, softs 14X50 
Mortsapenint 40X49 up 718 

MEXICAN PESO (OHBQ 
snQ.OPHr„f r nr main 

5ePta TS XBW .12217 
D«C 97 .11827 .11790 .11827 
Marta .11435 .11410 .11432 
Est. softs NA Alton's, sdn 4X71 
Mortsopenin 3&103 w 199 


39700 

2J88 

540 


87X54 

061 

227 


52X55 

IXta 

117 


30X23 

873 

153 


19X72 

10X67 

3X36 


Jan 98 $8.10 SI* 

Fed ft 58X5 57X5 57* 

Marta 57J0 Si® 5651 

AW 98 55.05 55.60 ttSl 

ESL softs NA.M»f5.^B« 

Marts open int 164090- oft 5228 

USKT SHEET CRUDE (NMEK> 
iJNQbbL-doUarsperUhL — 

Aug 97 2077 19.79 *10 +1130 9S.1M - 

Septa 2025 19.M 20. W +026,-52X73 

00 97 20.10 I9J7 20X5 »W5 30X$3. 

NOv 07 ta» W.02 2005 +0J«: J0X88 

Dec 97 20.15 19.97 20.35 +0X8v 30351 

JB>98 3X15 20X0 20X8 *9X8; 18X45 . 
Febta 20.10 20X3 20.10 +0X9;j562 

AltorW 20.10 2001 2085 . 

Apr 98 20.10 20X2 2010 +QXB 4-x- 

AAayta 20109 20X2 2009 +0X7 4X65 , 

EStsdes NA AAortisdes 62X28 * - 
Mon's open Inf 397X12 op <67 

NATURAL 6ASQ04BO 

MXWmn* Mu% f par mm Mu 

Aug 97 H9 2.105 Die 38X39 V. 

SSPta 2.150 DOS 1113 21922 

0097 1140 D2S 1127 21970 

Nov 97 1285 USD 1257 10147 

Dec 97 2X2D 2395 1395 H323 

S 98 2X60 2A» 24® U3S3 

ft 137S 2X55 1356 >0.1« 

'Mreta 1265 1340 2350 7005 

Apr 98 1125 1115 .D15 1SE + 

MOYta 2085 2X79 UTO 2X13 

Ed. softs NA Atortsreafti 12X65 
Mon’s open tor 192X43 .off ; 1347 

(MLEADB7GASOLHE (MllBt)' 

ASM aaL cants par M 
Aug 97 9* 58. W 5L7B +8* 38X19 
57X0 *16 +0X6 HUM 
56JD 5483 . +0* 7*2, 
5AJ0 -*2T .+0L34 2XS6 
55J0- 55X5- -HUB 5 .685 
56JD .SUB +U0 1718 
•- 56X0' +UD 1.117 
57X0 57X5 +030 1233 
Esfcsdes NA Marts-softs 36X20 
AAartsopenlnf 75X50 off: 4096 . 


m 


Septa 55X0 
Oct 97 57X5 
Nov 97 56X5 
Dec 97 5425 
Jon 98 56X0 
Fob 9* 

Mar 98 57.15 


3-MONTH STERLING tUFFEJ 
£500000. ptsoMOOpd 

Septa 92X4 92X8 9193 +0X5 131383 

□acta 9178 9170 9177 +0.05 111X93 
Mur 98 92L7D 92X2 92X9 +0X5 B&546 

JWl 98 9U8 9160 92-67 +005 30965 

Septa 9168 92X0 9148 +006 3&218 
Dec 98 9170 9140 9169 +0X6 29X29 

Mar 99 9171 92X1 9170 +0.07 21J76 

EsL Idw 54507. Pm. sates: 74449 
PW*. open fat: 5011 56 up 2X79 


1IYR. TREASURY (CBOT) 

StOaXOO Prtn- Pft A 3Ms al IDO pd 
Septa 108-13 107-25 108-09 + 13 327X68 

Dec 97 tm-OB ltO-TI W-30 +13 4XQ 

w£n 107-W +13 1 S-MONTH EUROMARK (UFPE) 

^sdes 94887 AtortL softs 74J67 Ml raBta - phot lOOpd 

AMrts open inf 331.712 Off 176 OAM 

US TREASURY BONDS (CBOT) Septa 

ts pd-siaaooo-tns s. srocs o* tod txa) Dec 97 

Septa 111-29 110-30 111-22 +20 412X48 Marta 

□acta 111-16 110-18 111-n +21 26X38 Junta 

Mar 78111-00 110-13 111-00 +20 2JM Septa 

Jain 110-23 110-21 110-21 +20 001 Dec 98 

Est. sales 345X00 Marts.KHu 309X21 Net 99 
Moo's own int 44LU0 off 6768 Jan 99 


GASOIL OPE] - 

U -S-iJoHaTB per metric too -lot* oi lTOtona 

Jdta IS7J5 166X0 T67JS +150 I6XM 
AWta 169X5 147X5 169-2S +175 UU5S 
Septa 170X0 16875 17075 +100 4012. 

Od ta 17215 17075 I72J5 +175 7X19 
N M 97 17125 17025 17400 +175 4762 
DWta 175X0 17425 175XD +3X0 (Uta 
Junta 17575 17450 173J0 +ZZ5 ' 4413 
ftbta 176X0 175X0 175X0 +125 2X02- 
E+t softs: 11300. Pm* .sake : 9J» 

Pm. open ML: 71.775 off 543. . 

Stock Indexes . ' 

SAP COMP. fffflEX (CMBO . 1' . 

SDPx fenteM 

Septa 90375 889 JO 89600 +S75 I70XM 

□•Cta 912X0 901X0 906X0 +6X0 4910 

AACrffi 909X5 1783 

Estsates NA Mon^toles 44952 

Marts wen int 177J27 Off 2893 


ft 


NX4 MX7 +002 4127 

NT. NT. 96X6 +0X2 391 

«684 96X2 96X4 +0X2 282X81 

9475 9672 96.75 +003 275795 

9646 96X2 96X6 +004 237X59 

9651 9645 9450 +0X3 174796 

9430 9624 96J9 +ft03 151,761 

96X4 9177 06X2 +0X3 97X67 

9SL7B 9572 95.78 +0X4 84175 

95X7 95X0 9SX6 +004 41701 

EsL soft*: 71321. PWv. sates: 104775 
Pm- open Int: 1X64717 off 1,918 


CAC <0 tMATIR 

FP200 nor tadn mint + 

Jdta 294S.0 2945X -+72X 31250 ' 

AWta 2922.0 2B78J 39SLS +710 1792 , 

Septa 2957.0 28B7X 2961X -#-72.9 20992 
Marta 299X5 299153008X0 + 75X 7,299 i 
EsL softs: 31511. 

Open IrA: 67,904 off 1304' ■ 


Commodity Indexes 


U0OR I-AAONTH (CMBZJ 
U macorv- otcaC wj pa. 

Jufta 9432 9429 9431 21.121 

Auata 9438 9425 9427 +001 19X30 3-MONTH PIBOR (MATIF) 

Septa 9424 9471 9424 +001 6X77 FF5 nriUtan - ph oflOO pd 


Moody's 

Renters 

DJ. Futuna 
CRB 


don 

NA 

1.731 AO 
150X9 
-238X4 


'Preview 

1X46.10. 
1,935X0. 
. 15036" 
" 239.34 


AAoy9f 

Jdta 


11.18 


1131 

11J4 

+005 

94,790 

1115 

11J1 

-him 

29.904 

II 18 

ITJ2 

-006 

0717 

11.11 

11.12 

-006 

3X36 


Est sates 2ix»6 Man's. sate 15.781 
AAortscpenini 1S0313 off 1903 


Est-sdes na Marts. safes 7M3 
AAon'5(penint 50X96 up 4618 

GERMAN GOV. BUND OJFFE) 

OM25aaaa - pis afioo pd 
Septa 101.91 101X3 101X8 +039 252X62 
Dec 97 100X3 100X6 10097 +039 0423 

EsL sates: 154402. Pm. sides: 141,409 
Pirn, open fat_ 241X85 off 2415 


Septa 94X6 96X3 94X5 Undi. 74982 
Dec ta 96X3 96X0 96X2 +001 32005 
Mar 98 9447 9643 94X7 + 0.02 0 

Junta 94J7 9633 9637 +0M 27X72 

Septa 9623 96.19 9622 Unde 31X63 

Dec ta 96 JM 9600 9603 +001 16705 

Marta 9501 9X77 «5X0 + 001 U430 
Jim 99 9560 95X8 95.40 + 002 7JN2 
EsL solas: 34X41. 

Open tot. 219,799 off 35210 


Sources: Mots Associated Press, London 
Inn Financial Ftftwvs Exchange M2 
PetMeum Exchange.- . 

See our • • 

Arifi and Antiques ■ . 

every Saturday ' 


Sustainable Partnership 


The International Herald Tribune and the World Business Council for Sustainable Development would like 
to recognize the following companies for their support of the Sponsored Section 
on 6 EC0-EFFK3ENCY: BUSENESS AND THE ENVIRONMENT, 9 which appeared in the IHT on June 23. 


3M Company 
Anova Holding AG 
AT&T 
Avenor Inc. 

The British Petroleum Company pic 

Danfoss A/S 
The Dow Chemical Company 
Fiat Auto S.p.A. 
Fletcher Challenge Forests 
General Motors Corporation 
Henkel KGaA 


Hoechst AG 
LG Group 

Monsanto Company 

Norsk Hydro ASA 

The Procter & Gamble Company 

SABIC 

Scudder, Stevens & Clark 
Sony 

Storebrand ASA 
Unilever N.V 

Waste Management International 


World BusinessJ^ouncij 
for Sustainable Development 

160 route de Florissant 
CH-1231 Conches, Geneva, Switzerland 
Tel.: (41 22) 839 3 1 00 -Fax: (41 22)839 3131 
E-mail; infiyS wbcsdch 


Articles from the section can be consulted on the IHT web site at 

http://llit.com/IHT/SUP/ECO/iiidex.htiiil 

For a free print copy of the section, please send us your name, title, company name and address. 

International Herald Tribune, 

Eco-Efficiency Supplement, 

181 av. Charles de Gaulle, 92521 Neuilly Cedex, France 
FAX: 331-4143-9213 - E-MAiUsupplements@iht.com 



the WORLD’S DAILY NEWSPAPER 




if 








t«C*T-£ «0. a 


rotore - . *-■ 


!r.d t 

eerrii* v 

•■ ■'■‘3 ... <■■ ,, 


J- . ■< 1 -• i- 

«** 


■ S ■*» *7 


Ml 111 FEDERAL CAPITAL IHC 
- !)7J! 

5 130 

•J ABC INVESTMENT A SERVICES COtEXJ 
MWAja- Bonn: A?0 ?wa.Ft S3»l2 Ti S&TU 
n ABC Wormc Fund IE.C.1 S Iff 58 

.- 45r Catoal Kecjern ft: $ uifT 

- C4cpci Bond Fd l 117.88 

ggAMAMM BANK. P a Bam Anftntan 

... Cotumgra Secumiei S 1«!J1 

r . W gineoe Eynn FI El 17033 

r TwiiEuiSS* Fund* S B»3l 

« AHvlta pi 31S.10 

OK ABM AMRO Fundi TM . 2EMM«*9J3Mkrt 
in* J .>Aonn«t2180 Lint. F* 3M-4jff 49.290 
* Lain Ameren So fo 
_ Nb-ire A-rantSt Ea Fd 
a AacnrseraEsFc 

- Eurat* Ectry *a 

; .•3P0" Eflvdy E j 

i arfe Fo 

r E-PioeBonaFc 
... L'S Sens FlrftB 
« uftnrnj Bona Fa B 

a 

EaFa 



*’<'■ . Arc — .. 

Mf-ATwC Oil ;%wi p 
C sn. .. ■ 

- 1 * 

sn v -.• > 

XI 


} SMirt Bond Fura 

; toyern till 


S Strtarrand 6uwtf Fd 
MS ABSOLUTE PERFORM TJ1 » 177 6173 
-i CKm WmStonol Llfl s lle.74 

i KwajrWi'Ja s 10U3 

i- PiAsartMuni ua t 17712 

M( AEB WORLD FOUO MUTUAL FUND! 

d fCjuv ham i too 

1 DM Dohf income DM 


Chm-iBsl J=GF ECU 
uibimr f5p cSP 
CWr>«l Seioctor 


e antunimn 1 


Tuny 


CJigcn Jason Eaul 
ClttaortlAPEC 
Uean Samoc 

GUpon has Bend 
Cttuofl Euro Bend 

CPtawt Jno 5m Cop 
yligorl Baton Eguhv 
^jptoio 


^noon n lj Bd 


income Fund 
Cvmqfwti 
115 Fund 

Merer 
Money _ . 
BtheleciPW 


inna Focus Fun 

<* Manager 


ajjwtart pm Grown Fd _ 


Fd 


IPtUEMtanotaGOU 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


Advertisement INTERNATIONAL FUNDS Jury i, 1997 

available on Internet: http://www.iht.com/IHT/FUN/funds.html 


Quotations supplied by fund groups to MiciuimI Paris {toil 33-1 40 28 08 06) Service SpQnSQTBtJ tty 

For information on how to Bst yOuf fund, faoc Katy Houri at {33-1 ) 41 43 92 12 or E-mall : funds@ihtcom 
Quotationa for ytxr funds via E-mail : e-ftMTCte<®lhtcom 
*e FB^ieRLUUJN GROUP 


PAGE 19 


NOKIA 






; Bend "Jicflfw 
Men ■ 5 Bones 
sv ow Bonn 
oosca Sata/wta 
Global Euulm 
U- canserioiNe Equities 


fcJ'* 


Neu ral RMC wrCa;. 
Aida Gotfin Co 
Ema^ManM Deo 


31 J 

ss 

%% 
XM> 
IB. « 
14.45- 
BE 
ILSS 
l«JJ 


■j < 


r AU AOfl EirwrgivuH E0 i .WJff'i 


.M ' 

-V *4 /.■ 

•« \> .. . 

■a v-f A •. ■ 

AU % 

' A*-ir >t .» 


■A^JSSL CA. 


^ .'/Ul »J . h 

•. s; 

*'-■ ■ r» ' p- 

f • jT-»~ . 


I Enw® 

.... mccjft. 

AIGEvAUEuuJ 

Arts E<I* Sbwicjpofic 

iluJdiun Fund 
AiSjaocn JmtHt 
AlCuuir Amaicaf. 

AL; Jrfijojj Ala sm . 
UK Eui»OBlhi«c' Fund 
U|Z LW-iiony Fund S 


5J1TCM 


14SJV3 
WielB 
2044401 
7D305S 
1I.0J 
1«y tub » 

WVII 
IL37* 
’T3.IBW 
_ . 1404314 

Ecu laUiiR 

SE 1M 1374 


t3d0B5?2&i«<.M 6. . 
a cif i carman) Aaw ba 
u CIF iconnaiu H.K. Eq 
djeornTRUST 
m OUaeffcnir uBKP Prft 5 A 
w Tin Good Earn Fund 
B« COMMIT (8.1)44 71 7S1I 
m l f.e Onr< Fung 

* CF.E Low* Fund 

* Comopu Asia 

n CfimaeDEunee 

* Panao Scat 

an C0N1ETT HOLDINGS LTD 

IntproT idc mra cenutljcun 


U7M 

IS4177 

1200) 

143323 

14J1A3 

ID17JM 


Dnirt . _ 
eMHQMLK 
cQuABmIi 


cUfW inVHTLM 


‘(Sfl F^. 


I LSd 


IF 

SF 

Dm 

BS 


Ecu 

s 

DV 


„ _B5 LJouWHV Puna DM 

e VB2 Damoxy Fund Ecu 

c UU Lflju*3«V Fund SF 

M AL4ATROS PE»H»Mf«ffC£ FUND 

in ARjastn Firt Rnoncioi s i 

m utxrinn P**) MUM DE.M DM i«51Ur> 

m aKoMB Pgrturn una USD > 11344.4} 
8773 51 081 

& 


a UtwniBlSw'Wac 
j iXttaawci Swage 
ALfS?yBfRGSiav 
|T . Q toctf 
a CmpmaTT 
i3 SmfeXDrtiM 

a Mw^AnviUa 
4 FatEoo 


371 TO 
louyiv 
)iar7 


DAI 

SF 

DM 


173 


L’Bs.racrDCLivr 

4 .-*!■• , r _ 


'e-. J' < . 

»4 T* 4 .« 

rcl 74 

■%LS J1 ; . 

■■V . %>i ~ 


lW 74 
IB0 7ft 
114CS7JW 

Sit ALLIANCE CAPITAL MANAGEMENT 

c* Bam id Bamurto i3S2^»4M4330i 
r. «lkK> US or snulei A S 14 1’ 

*.- ANoncA US I 1 ' Slrabsfi S 12.W 

c AAqncrUS or Suites 1 I 3D 17 

c ADuncju L'S O' StnhH N j 12S 7ft 

aeOTLDf.LAN SACHriCA0MANiTJWP»*ft7ro 
n AGMHMtelWOlFB - OOtX l & (OTTli 
811 ALPHA FUND MAN A DEM ENT, LTD 
4 Pot-La vine Pd. Haniffler. H7.M] Bermuda 
a TUOno Laos Fd Un /Ag»3i i 11 LIT 

P ffiyll ^ ^" HVC 1 ,|M * 

7 3pm ASaift raas, M<w3i 
GnuM^cwMavii 
Europe Fa iMnyin 
FuiwM Fa iMar31i 
GWal p< 7 tMjyJl i 
Hug Fd Cl 4. nfevll 
HJ5 F.JO B- '-WvJI 

■ fucic ’jio»n 

i Am« nfafi- 

. , j pocjfc Fa uuari: 

n Apia SAM 
m Upno Sian Fd i r.la.31 1 
m AJanp rdBtt* Fd iftl ■ 
m BCA/Ajpr\o Inltnum 
n BiKr-E5U FurHdaN 
Consudauo lot Am Ai 


W CON EM ASSET MANAGEMENT 


1 1 3330500 <=o» .41 | 221 

C5 Pwfl Rj Inc (DM 
C5 PgrN Fh Ik (PM 
C5 Pont Hi inc — 

CS Porrt R> me 

Ci Punt fa, inc _ 

CS Part R. in: (USSr B 
Pom inc DM A 
CSF'orrt Inc DM B 
CS Port me lurei « 
import me iuroi B 
C5 Portinc Sfp. a 
CS Port UK SFP 3 
CS Port uvrliGS A 
CS Port Inc uss B 
CS Port BrU DM 
CS Port BaiSFR 
a Port Bai uss 
CS PwWFocu* SFB AM 


llftS.ll 

w 



util 291 64 oa 

Uh 270527 00 
11IEL88 


u CS Port yiufltn PM 
; CC Port Smart SF* 
e CS Port Gnmnn USS 


J^BEF 

Croon Manor wn Fd ( 


d Oedis Manor MU ( 


Crorts Money MJd Fd DM 

,_t FAFF 

Cradd Matter Mm 51 kFI 


dii Money MJa f _ . 
db Manar M*t Fd | 




is GATOtUiwJ Moluu I Mot 31 1 
m Hc*j« jqanFund 
m MB] Ptnoanance FdfMiqfll 
m LoUnoeH Val-je ifAnyll) 
n Poof PIM Dpt BV1 Moy3i 


StCCb 

iAPkSmP oji . 


• e 

! ■' «-.•• - • 
v. - «■ 

C»:4»:.«AA’ 


Ml AMERICAN PHOENIX INVT PORTFOLIO 

3 E 'inter MuoinaiOfut Prt I 3o 7» 

a Garni Muimanonai Prt i 24M 

e iJi Groorti Cos Prt S fZsi 

4 U S Pnd Eitcift Sk Pill » 1 5 JO 

814 A PR HOLD AS BLEICH BOEDER 
CoCiTCOTn Oil VW8.323-222 

> 4uHM Carpuroraa - s U*P T5E 

« AqUb inkmoTTina Fond S 742 DOE 

ft DEFAUKUKtN V SlftSM.dSE 

r Edqto S0K7 Fund S 111478E 

ft pai Eagfc Fena S104W7K5 

■ Tne GioOM Bevornga Fd S IUS6E 

IU ASA PACIFIC PERFORMANCE, SICAtf 

) APP 5 122ft 

«4 ATLAS CAPITAL MAN A Of ME NT LTD 
ft Tne Cjwm Ct«Bum Fd 

r Anor, GMOdi F.J 
ft AduiKiTC Arodfopp Fd 

> CatMtUlo Aibiftage Fd 
-a LnoUoorwr Fa 
« Tne Dacavcrv Fund 
t Tt» ktnna AiVji Arnlrag* 

Oil BAH TfL'44-171'714 JTtO 

■ nU .iromt P-- L"*# V4 V 
attejc-lbSo Funfl 


a C redis Money MU Fa ui 

a Create. Manor MU Fa Pn 
4 Create Money MM Fa SF 
o CndKMgrtirUUFat 
a Credte .Monor MM Fa ran 
a Cneds Money Mid Fg £ 
o CrrOo Eq FdEmero MM» 
a Crete Eq Fd eui Blue cn A 
a Crete Eq Fu Ew Bum CnB 

ft Grant Eq Fd France A 
ft CredH Eq Fu Franca B 
n Croud. EqFd Gatmony A 
a Crete Eq Fd Germany B 
ft Ciena Eq Fa Said Minai A 
4 Create Eq Fa Gold Mines B 
7 Credte Eq Fd KUfllber A 
ft -Create Eq Fa Hlep iborB 
a Create Fq Fa Wt A 
ft Cradil Eq Fd miy B 
ft Crate Eq Fa JmMeaidSF 


i 

i 

DM 

n 


liars 

36ft. 22 

fi34Te.no 

151466 

I W.PS 
J4C72T 
700*32 
133643 
LM56SJ05.C0 

I 1M.M 
147549 00 
27WB7 

imisi 

4*451 


25094 
04X49 
Jti.FI 
379 J2 


Fg ixnm 
FF 1593JI 
DM 41140 
DM 44)33 
S 194 JO 
% 219.10 

Pto OSToiO 


,r 

lriiu* 
I1IT18. 
ii2a 35 
104835^ 


MLS» 


KJiJ- 

Si? 

53873 


Ortt-rUM* Fa IFFrl 

• Cometiirie Fc -■JSli 

CftMlorr Pima n'iSi 
81 BANK BRUSSELS LAMBERT TS-J) 5472037 

i ftBL'rtvesJ Arrc-icjCac i ie9fj 
BE L invest BuK.un Cuu 
ft 8BL Iryev jn Cue 

* BBL .n-resi i^im Anvr unt 
SlL'n.el’H* s. : nuts Cap 


BF 


BBL l‘r.l*V AW" iilPi CdD 
BKL men Ur Zx 
BBL iu ftolaiTiinei uu 
BBL >U muvsr E unce CAB 


lft» alhi 


3L 'L tnwst iY*id Cos 
8L 1 3 Inr Eds* Mel Cap 
BLiU Im Temcem a 'Aart 
6 ; iFi iraeu France- 'Can 

uLFeHuFu Inti Cop _ 

81 Pommon*a BofCo*. LF 2906000 


2473SIX' 
23644 00 
5 ’17.15 

S te9l« 
S 383 27 
£ :iuw 
1 10244 

LF 23S0900 
LF 55UOO 
t 576.78 
5 407 1ft 

FF HELM 
I* 493800 
2*04000 


M9 BANBDE BELGE ASSET M6MT FUND 

.i.r»i r DmnoutarBMnscr JJJJtl 7WU 

* utnEaunyFana S 

* Urn Bond Fund S 

6 DeAarZona EdFft } 

m AOoPaatL Rmqiori Ffl S 

tndw Fond 



: SS3flWJ pfl . i 

281 BANOUE EDOUARD CONSTANT 
. - BECOtvFdlniteend SF 

mKESBF if 


. .r^AOn 

ft JMcftuCZ Eui Sim 
INDOSUE2 ASSET 6! 
ft indosuar As«n 
e unoftsaiLna 
f tS4 Adion Gma 
j EA Jccan PeO Grovurt Fj 
ISA PsrtiCC-ele Fond 
: ISA 4Mjn ingm Fund 
ft mamuer Mred Func 


* Uaruo mm 

* Matureu Fund 
a Tl* Lun Fund 
3 kanuecHunq 
ft iMcucjSinqj 
j wotBUJ Pocte Tst 
a uqum totem ra 
j inoaiue; MtetM Tfi 
r iMbmci Asian trtJndon J 
ft inoorue: Aston PifJMon B 
ID BA NODE SCS ALLIANCE 
I47MJ WntlM 
a Punodr Nrvm Am | 

* p|‘cae E rw tg. _ 

* Pie«oe Auo Pnofic Eg 
n PteircaEnwroreTentEq 
r Pitio3i> Denar Bondi 

PUMase Ely Bend* 

•• Pmooe FF Bends 
» Pioaoe Inti Cfltjv BoflOS 
a riemoeDtiw. Rewnm 
k Fleoar ECU ReserM 

* Ptiasa if snaree 
« Pie aria rF Rasenie 
141 BARCLAYS GLOBAL INVESTDSB HR 


)2 

:L 

ii 


91 49 

&s1 


10»7J 



I Asu 

FL Tiub SwRieilgnil 
JU FIDELITY INVESTMENT 
Td- 00352 251351 2X 
ft Nsw&jraoeFwKj 


ft Omni Fima 

5 

an PIN AMU CROUP 

HfUrmei E4Uar 

IT If»SE As) 

m TheWetnomFiortW 
•84 FLEMING FUND MANAGEMENT 
LUXEMBOURG pd ;3SJ 84 1B7J 
THE OASIS FUND SKAV 
» HtnwiiMKU Equity Fund 5 U5321 

U FDRUS BANK AS. (Ptodd: O-m D •)» 
v Fuftuslm Growth Fd S 109 

149 FOREIGN S COLONIAL EMERC MKTS LTD 

e BraaBon litwU Co Sicor I 
* Cttamtttfl kmeiCsSicar 


e tahaaa Imt Ca 
a UaibrnMOtmuCDSlan 
w HirHkm kitwt n mntCo 
871 FORMULA GROUP 
a FonrulO Fund NV 

JG MULTISECTOR FUN 

PBBsd&wsrr 

I Lutrarey 
)FteM income 

tW9 

. I MNB4MRKETIM GROUP (BUI 
’ 0. Bu 2001. Hornttrun. Bontmao 
re FMC GUIOI fsl May) 
re FMG M Aner Q1 May) 

sttSStfflm 

aiGiDam fu 
iFeormaiMov) i 

FURMAN SELZ FINANCIAL SERVICES 
Tot *353 1 679 7724 Fax + 1S3 I *J9 7928 

ft AojcIb l)5A Fimd S t, 

ft Aaicu US* Grnrlti Fund S 12451 E 

* Crasneood Cap rad lw S1919704E 

a* Libre litMdinvnn A Ltd I 1216J7E 

* SOugantcu "v Lid iIIdmjbS 

n UnugoU Fund LU 8 931 43 

— 872 GAIA CURRENCY FUNDI IFAX 82515 
TH. 1S3 I 476 21WFUB 1S3 1 C7» 0570 

? 

■re Gak) GurnuDewl a 1 

074 CEFtNOfi FUNDS 

Genera TrH.4l.J2 7155530 Fowl -22 TBeOIOS 

■ GMnar LA 

■ Sunwi Wood Fbnd 
873 GENESEE FUND Ltd 

* <A) GriBW Eoo* I 5352)4 

— 874 GLOBAL ASSET HAMOEMEITT 
IFAX: U-S- 8HKL UIWMrt MSIIMW 82SW 

it AteteST-l 

GAME 

GAM AiD&DpO 
CAM ASIAFi 
DAM AMU D9t Midi 
GAM AumtSa 
GAM Band C 
GAM Band DM 
GAM Bond SF 
GAM Bond USS Ora 
gam Band uss special 
GAM BradUa 

GAM Cqntni ApftredaBon Inc 
GAM CGFF Me 
GAM Cran-Mart<0l 
gam Dherany 
GAM Dollar arid inbrncten oi 
GAM EnH Ate 
GAM Imatg MK 


ABsNMFFd 

GAM Franc-Mil 
GAM France 
GAM GAM CO 
GAM High YlMd 
GAM Hong Kora 


GAM LeyerasM h 
GAM AW- Europe DM 



SMB C 

OPEAN BOND PORTFOLIO ( 
lA-l I 

sit 3 

- L J DM 

I BOND PORTFOLIO l USS) 

S t) 

l i 

1 10 

POUND STAPLING PORTFOLIO 
u QaasA £ t«- 

d Cktss B _ __ t IB. 

COPPORATE INVESTMENT GRADE PTFL 


1SB9 

»A1 

1559 

HUP 


_ Qns A 
o Oon8 
YEN POET FOLIC 1 
you A 


iSn'cVRRENCY BOND PTFL 


MUL’.... . 

CKUlA-l 

0 CbsiA-y s 

a dais 5.) j 

d Cites B-5 S 

US FEDERAL SECURITIES PTFL 

ft >3onA I 

ft Class El I 

1 It MERRILL LYNCH INC PORTFOLIO 

ft lost* I 

ft CfanB i 

ft OauC 3 

>17 MERRILL LYNCH MEXICAN INC PORT 
J MtJdCBT incSPWG A 
a Merlon W " 


UB 

2L57 
VjSB 
24 39 


MaMon ne tSSfciA 
Mnacan inc Peso PTfl Cl 6 


1147 
11 47 
11.47 

10.43 

)o.e 

H2 
11 2 

IIS MERRIULYNCHNAVn M JtMItt 
ft Sewr Rooting Rate pm I ioed 

DOLLAJS ASSET? POftTW-UO 
ft ctsxini uenoi I snores S 1 00 

ft insMUMnai II Stnres. S i on 

ft LBfnfflSniw S 100 

MErRiul LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 
0 CktuA S 755 

ft Cures E S 753 

119 MILLENNIUM ASSET MANAGEMENT 
m SMI uuani Lfreraoed SF IS19J9 

ftl 5Ml Curenl UMevnoaea SF >08144 

re Swiss Fiore Currency Fft sf II 0Q.K 

re The USS GUN Cun Fa Lem S 

rn ust uaaoi Cun Fd 1 1114.91 

1» MOMENTUM ASSET MANAGEMENT 
Leveraged Fund S no <5 

Momen Ptmaer Snarls 5 135642 

-Montori US Enoendsa l ID6*Wr 

Momwi I/S Malar i tstuez 

Atommiuni Al Wearner i 13057 

Momentum issMmaster S 231X1: 


r Mbmarnitn NowriwPtn t 11590- 
re MonKHPum Puce * Partners S 153 97: 

re Mamenriim PaaiDow Fd S 164.9m 

re Moinaiaure Sanardimaa t 13UU 

.re Mereareum S u tewtiBSlcr S 33663: 

re Mane mum Talcum Powers 5 Iftjjtz 

rn Menm4Dfl9 Unmers Hoftsa 5 157 04i 

re Monum/m vtuuemaster t I join 

172 MULTI MANAGER ILV. 
re Japanese Eqcinas v 844 

re Eruerglng MarUss i 22J7 

m ArUtnee ! IHi 

■re Hauqa I 17 44 

723 NAM FOREX MANAGEMENT 
* NAM Mum Hauge SF 9«3 

124 NICHOLAS- APPLEGATE CAPITAL MGT 

" 127 71 

IC0 12 

30 74 

179 76 


a Pufrem unn fnc GNMA Fd 

ft Putnanilnrl Funfl 

144 OUANTUM GROUP OF FUNDS 

re Asian DeyHKJmore 
» EmMflatg Grwih Fd N U 
6 Qinitltim Fund N V. 
n Qiunrum indusmfl 
■ uuaniuin Realty Fund 
w Duasar IW1 Furs N V 
re Quota Fund N.V 
1-15 RABOBANK - T«l iJSUOJUl 
j p-ino nx Fa Cuam Eonuv 1 
a Rada Hal FdDvtcn land I 
a RoDotWFd NLGCmlt 
3 Ram hoi Fd BfF Cash 
j Rana Set Fd Faulty 
o Paw Sd H Fid income 


14103 

238 00 
2271000 
169 00 
1710) 
21 LOO 
31200 

72109* 

H 53 0936 
R 51X954 
&F lOTOiiW 
R S7DSIJ 
FI S7X09* 


SBCWrvyVnfjd MO" 
SBC Man«r /.INI Fa • JPV 


iBC GIA-Ptti iCHFi !« B 
SBC C-IBLPttl iCHFi Ylfl A 


146 RECENT FUND M 
.re Cs Henqe Fd 
m EtrAm tun)* 1 Tu 


e Reaefil rMnnul Fd Ud 
re Kagem pkVic Hdg^fl 

a Reoem loultt Atla Fd 


MANAGEMENT LTD 


. Russian DoM Fund i 

•n T-tiwon Anurnm s 

ft Undcrval4;sTgiymnS«r3 S 

re UnaaruqMiPfl All RuuB Fd 3 

m Undcnwin-fl Assets 5rr I s 

a utwremeM Frau Ttr S 

re Blue Tiger 5 

ft Rrfl Haul 5 

ft Anne Tign imrCaLJd * S 

147 REIG GLOBAL FUND 

re PrlO -uno Pfcte Ptns 

*- Retq Gldoal Funfl Ecus Ecu 

— 141 REPUBLIC FUNDI IFAX CSH 
m Rep Fauna Mbit Hedge Fd t 

tr Pep CO Asa An Fd-Cvrr Hdqft i 

m Pep i*3 Aswl Atoaior Fd S 

a Pe-pi/twc t»5 .«awr mnn i 

1 1 Papvmic U5 Fi tea ns: Fa S 

a Repuoiic Gwol Fbod i 

- Rep SDoii Term nign iluld 5 

d Pep 5*1011 Term High ricM SF 

-v Kao Emna/iUtioi Deni Fd i 

j Reft Lena Turn CWBr R, Me t 

d PrpuDDc As*m lw Pius Fa 5 

ft RepaMc GROdtaunv 5 

ft RepuMIc GbtMl Balanced S 

j PepuMK Foatie Equity 3 

d Per- European Eaufcv Fft 5 

j PBS- US Equity Purw S 

j Rod Eirtui Mrts Eauity Fa l 

Rep L'S Sreo» CouEawiV Fd I 

- *an Flrea inc DM 

Manor rAfttet 1 F 

: Janet Eowty Fund I 


Nomura Journal 

NORTH STAR FU 

445-333711 23 FSU. re45JBun 7 
NS Imreelmenl Fund Okk 

N5 Ktan Petennance Fa Dili 

' Mbaa hiMniolionoi Fd DM 

Fima 


1178 


GAM MW- Eui 
GAM Mllltl 
GAM MuH. 
GAM Pacific 


iJ3?n 

UA.U 


..uss 

DM 

ust 


GAM Pont... 
GAMSdonca 
GAM Setealon 
GAM 5F Special Bona 
GAM SingcporeyMctaytia 
GAMTaSEs 
GAM Trndns DM 
GAM Trading USS 
GAM Timing II DEM G 
GAM Trading I STG a 
GAM Trading ll USD a 
GAM UA 

GAM Urvwraai USS 
GAM VrorkKrlae 
GAMrekfl 
GAMih inuaMmerti 
GAAMCHFCampMfte 
GSAM CnmpasBe 
GSAM DM CenqtnlM 
GSAM GBPCompajrtfr 
GAM5AM Omega Fa Inc 
GSAM Orada 
GSAM Money MMS DM 
GSAI* Monty Mm sf 
1 Money MRS Star 


MuMBOochorassa I71CH 8034JCurtdl 
d GAM IC HI Europe SF 

cr GAM tCHi Mondial SF 

fSHREi 


I Fund 

S.T LB. Funs 
111 UPPOINVESTMEN 

re JftW Fund 
re IDP MsrwMDAN Fd 

re Indonesian C-rawin Fd 
102 LLOYD GEORGE MNGMT (3522 3S4S 44» 
re LG Anlonna Fund S >1X8 

■ Lfi Artm Smaller CM Fd S 73 9093 

re LG Indto Fund LM ) 1034 

re LG Kama Fund Pie t 5X47 

IU LLOYDS RANK IHTT. IBAHAMASI LM 


SU«- 
49100- 

^ _ _ . 2UD0-. 

NS Concord Fund Dm 283 00- 

■ N5 intomanotiulCuiTFd S 3100- 

re N5 Ba A Maigaao Fund DU lUXtC-- 

— 127 OLD MUTUAL IMTL I GUERNSEY) LTD 


ur Rod inrnvsr 


sretiing Special Man* C 

IM Parra Mens) 5 

Ctoaor MDnagM 5 

Emera Anon StoOmaitel 5 

w Pacific SwAnorkel i 

re Ctolbr SpocU Mattel S 

128 OLYMPIA CAPITAL INTI, INC 
Wiliams House, ha m Iron HM1 1. Bermu 
Tot 4*1 793-1018 Facial 295-2WS 


SJ*0 
5099 
59S2 
4579 
JJ67 
3548 
2479 
5 590 
1012 


9130 

53435 
20<8 
ua 
■ ICJ0 
1334 
5 07 
10*45 
265 

40 3 
1470 
1*59 
1357 
RH 
1130 
6.73 
40 0* 
5527 
30 78 


10*15 
104X7 
10* 78 
>09.94 

104.49 

10241 

11145 

11131 
IdLSs 
111 1)6 
110.93 
104 7] 
101 7} 
117 18 
1)625 
109 59 
11140 
11106 
102.71 
108.04 
11254 
115 « 
97.43 

108.74 

394.17* 


•Sc GBM «n.tCHFj Grtn 
SRC GBI PIfLiDEA*' toe 6 
SBC GDI Prt -IDEM* Iris- B 
SBC GW) Pth.JdPmJ rjo A 
SBC GlbJ PHI- 1 DEM) rid B 
SBC GH-PM IDEM) Bui A 
SBC GH- Phi 'DEM' Borfl 

S&CGStl Ptln'DEM) Grill 
-BC Glhl-PIfl (U5D1 IW A 
SBC G mifitl (USD) )« B 
SBC GM-PID ii.'SD) rlrt A 
SBC GfcFPW Yld B 
SBC GW- PHI (USD) Bol A 
SBC GIBI-Ftfl IUSDI Bo) B 
SBC GIU Pm-iUiDiGrln 

I BC GOFfm riliji UK « 
BC GIN-PHI IVEUI Inc B 
BC GlCJ-PHl (*£U1 YU A 
BC Gihl-Pttl iXBUlvidB 
BC GlDlPIfl l>EUl Bd A 
BC GIM-PIA l«EUi Edl B 
SBC G<8im.|* EDI Grtn 
SBC Enwatoa Maxell 
SBC Small A MidCaai 5 ft 
SBC Nrt. anim USS 
SBC OrnnPtflCHFlOO*' 


Ecu 

Ecu 

ECU 

Ecu 

i 

SF 


i 268 64 
r itwjtjXi 
s 1 754 28 

f liW-77 
f 1 SIV.X: 
f i ier n 
? 15v7lG 
1317 18 
139V 44 
14C 40 
1 1)28 67 
1 7“5 81 
1)5729 
IH« 

13U4J30 

1 390 95 
1538 90 
980.12 
176*03 
1125. "I 
1519 “ 
1255 27 
1771 13 
TrLSD ?0 

mo 3i 

IJ37XJ 
130*94 
174903 
130562 
1312.92 
18546' 
I77ai3 
73540 
593 ib 

5U61 

54568 


j L'fAM IA1I C-ra-irt = C 
h U B ■-■•*■ Jcogni 1«.E qU'1* 

.* U5J-V Sin Pm.it u uni- 

.. VBA.Y-US Ecnt| 

-v '.IS-V.5. SlyUCMF 
re uBaV-Correr.- Pm 'hf 
. '.'tAM-Luni-y. FHIUTO 
176 UNICO FINANqAL 5EPVICES 
Pnone 1-157 1*65 l5I FaM-3H)- 

- 27.5- Cenimun- .tl.on Ffl 
t - 2.-. e C*nmirr«al"'n f -7 

- ; T*i6in’ * i 
.- )J U.F.PFV S-IWt 


Ti- Ov 
16- J’; 
awl'll 
iit*:) 

i:nj».v 
■•-):: u: 

2U A 4S4H 

1.1* Si 

i*> 


ij I F Ci;'.lr'.'(n AS 

L' «J F DEM Pntw A B 
i.' U B Sncn Term A 3 

Unn'. E ju'V Fund 
Unas in». Fund 




% issa^ 

rn Rep 7. -11- AftHhret Aid Fd 
m PeaGiqtSpKtoisrluwton 
m Pau MunL&cnberGuii Cun 
nr Tne HNmjroge Funo 
197 RICHCOURT 

Tetr 21 20 176 9611 Fw. ]t 70 675 08 81 
i* Pjcnceun Amenat inc s 197 771 

e PJcnaiLil 5 SBffl IPC S 1441921 

re RjChtourt Fu«in» Inc S 19JB.I4) 

• RICftCTUrt OOpart B Inc S 1099 IX 

re RRhONirl Qpport L Inc 5 112*531 

it RtoiKaurf Ctopen S Ire S H7J38I 

149 ROBECO GROUP 

POB 973X000 27 PorUttom-CJlilO S4II2*_ . 


Dm Floor PHI LHF 9y- j 
. _ : Dm Floor PHI USD 9$9 l 
U nerkovaur 
AitotoVutor 
AiiftP-xnsfio 
P-KHt Bonn Setecwr 
fxutor Bono Sumaton 
Ecu Bata SMeaian 
Ftorm Bond StMton 
Franavter 
OffiwnoValw 
GMdPomoAa 
IwrlaVckH 
ItolVOU 
Japan PcrtoAo 
Jjr-diou »<u« Sewakxi 
S<> rsrwfl* Bend SetofWvi 
toasWW 


5F 


16*7 


IU TAIL W«D INCTrf : 1M1 475 7HI 
m Tne Tan ws 

164 TEMPLE TO 

d Antencan Fund CJ A 


.778X4 

131*2 9 

i 451.70 
£ SBIo 
3 759.79 

DM 12184 
% 13985 

Ecu 11154 
R 179 ■’4 
FF 738«J>1 
DM 5*7 40 
5 :r.-llf 
PM 1174030) 
LI B962?.W 
Y 7*W7 0C- 
£ 120.45 

SF 1)7 7? 

SF 1092 77 
5F 8ft ’2 

SF 164 15 
17677 W 


Iff US GLOBAL INVESTORS IHC GUEPN5E > 
j USGCF ■ M*. f irf.-ui -ViuWte 

& Nartimt Recwcei PcrtaDc- i IDSXr: 

Td «.!28i -’rcai 


1154 

. ft'illur Gracier Clwio £ 

r Wlllui Japan * -33) 

/ ■-■/'Uh-T UTimnftfl'rei ! , "V6 

vVilLy Soitln Eui' -lid i '9 2* 

re WilLy TcHi'Om I 13 02 

„ wnkfboftaCnaiidlSiJS _ i 1B39 

k i’lilMWnfl Eur Ci'rtr-ncici SC* •i** 

b YriiWvqiuiy Europe Era 2 1 3? 

n L.inew-jijitr Itoir L 1 IJUitCO 

n sY2Uragwry l.cf.r iiroiw 5 .’0 J 

110 WORLD FOUO CAP PRESERVATION PLUS 

- ui-ST' 7 jp Pi^remtrti S M. 

JH 5YP STEWART FUND PLC 

- KP Sir-on Lons Tran Oft-rt 

a V/pJ >w:lai Grow)" 

- ivP Otei-an Evrcwan Ecu"r 


I- N*r; SlucM Sn-trart Cura. Id tot I 

III WP STEWART GLOBAL GROWTH 
re IVP su.-won WKiJlOrtP-in S 

179 KP STEWART WLDINW ILV. 

3 V.P5HiA-PAM r .Ei 5 

191 WPS IUV ESTISSEMENT5 S A 
: Gtetot f<--:nreJ*in Funfl i 


lOCCK- 
1003 03 
MU3V5 
9*6 52 
m i« 

13 *283 


rail rTrtaFurtfl ua i 725* ’■* 
TON GLOBAL STRATEGY FUNDS ^ 


• Europe Fu 
RG Pociuc Funrt 

K Bens Pm. Fd (NLGI A 
Buna Pun FdlHLGi B 
P'3 Enterglng Marten Fd 
PG Money Plirt Fd INLDl 
PC- Money Pun Fd fCHFj 
PG Mann Plirt Fd 1USD1 
P2- Banc Plus FdiCHFi 


FI 


171 JO 

1IDJ3 
100 50 
14060 
17757 
100.03 
10092 
1000 ! 
101.15 
1005X0 


nos 


lurch 


PE D DOTS 


I Geormn Gael. DutUn 1 J53-1 -6702070 
re GAM Alia ACC 
re GAM Toeyoftn I 


GAM TM.ro Fa* GBP a In 
GAM Eunsd Aoe 
GAMCYAtrft ACT 
GAM Tetovo Ack 
GAM TOW Bond DM Ace 


DM 

[ 

t 

DM 

DM 

LM 


8SB-C0D 

If 1192 

P 
H 

K 



rCOMMERQALPE FRANCE 

Erv»«.Mone«Dlir _ FF 17307^ 

9 Act-coin LSD B 2 178*73 

045 CREDIT LYONNAIS ROUSE IBernuftn) LB 
m Srmemlronfl LM S 153)23 

CLP SELECT 31 -OS-9’ ILUX RES' . „„ 

m Dnenhind USS Qrd _ S 976 

m oncnteaDMOra D« 19 J3 

m Dnmtftoft FFrCrd FF 50.70 

byentired Ai Dm AS 855 


119 CREDIT SUISSE FUND MGMT WtfERNI 


indnnetJo ■_ 
japan ■3*'0*i 
lona at Obi 
Mstovua iJATNi 
" msopliwi C4-04I 
SaiBnaOrt) t2*T):i 
TKMond •7t‘3 6 i 
S scat Fund 126.061 
Sovm Ed'J Aw 174061 


16JOU 

S' trp 
1657*7 
71972 
4.9?*: 


216111 

15570c 

80*8, 

3853*1 


rFreC HuL.- , ,--- 

ban i* Emera ftorid Fund 
Bonon GHoal 'ikuich ■ » 

a hiqr. 5 -tdd Bona J 

3 jojon I-nftiof Cm Fur2 S 

; ff *m 

anuEMM, 


091*1 

US! 

i!2 


AuSMtto 

a Jdocn P-inJ 5 

ft WonaAS-'toCRoia 5 

o Hurm Attwricn * 

c tyicfun. Puna J 

3 PdOncFunfl J 

! enumaionai Bond J 

7 EiTojjpFunft 5 

a Hjeg Kang i 

s TnuorMnaM 5 

r Gle*a! En»tR*'B Midi J 

ft Lftiln Amenta , J 

a L'S Dooci cjrrencr Fvnd 5 

3 Cunencv Fiftto Nianagoa 5 

ft KftiMFsadarFund l 

j Eurtp* Select Feeder Field C 

8» BE ACDN GLOBAL ADVISORS LTD 
-i ' jeovni urn us 1 

rn CamsBil Str toi h Ud s 

ir corogotj Stole* E. Dd » 

—i Cnmijsxi Senn S. Lid S 

t commu sale* .v lm s 

38) SEC UNI . _ 

ft GKJul ra USD A 
c ufctai Eg USD B _ . 

J Good Btoira USD A rum 
a Gndai cornu USD B (Cagl 

* Glctal fcondvFRFA ftNvj 
Getoft) SMdl FPF B (ClB)l 
t ECU A (Orel 


3*45- 
2«19l 
135 J9J 
51 Mj 
* i 74- 
176.28: 

70 50- 
27 48- 
1^42- 

so oa 
135*7 
1858: 
lBNz 
SJW: 
4601 
1 1772 

49*7.21 

Wi 


046 CUR5IT0R FUND 
r Cun-tot Sou Ailtol E-i 
re Cun-tor Gibi Bd Ouwrt 

re Cunhui Gtol GIYHI SUB- Fd 

047 DARIER HEMTSCH GROUP 

Tn 41-21 JOSrto « 

j hrnteri TraMurv Fd 
ft DH T-cWIWWl Hnid 
a dm Miaracmn PortWo 


87 95 
12*35 
1 1453 


SF 9969.TS 
SF 14049J2 
SF 157537.00 
SF 130*477 
SF «45B0 
SF 301.154 


041 DELTSC PAH* M ERICA TRUST 
■r DedK Loan AIMKonFd 
n- BeWC WerMWKlalnCFd 
m Dellec High Yield Ffl 
Sff DISCOUNT BANK GROUP 
•> |wju Bd Mis Hgd Dotrai 


^'Lbs 

i 1145 


I Bd Mutli t 


SCHF 


Sewrf .. 

ScorrtBJM 

swell BU If m Snort T F PF 
Sami Bd W H Snort T d£m 
S corn Ba Muiii CHF 
Icon! Bd Mutt USD 
Seim Eoi-Jy EurutUI 
Scam Eq K Amancu 
5contEqFranoiFF 
Sunt Eq Japan 

Sort |qT«Jir 


sl 

4 

F^ 

_ * 


135*38 

14*151 

MTOftto 

10786? 
112132 
5M7.V3 
1030.77 
items 
105153 
229 J4 
30252 
12555 
824J7 


an DISCOVER INVESTMENTS 

* Dteccnx am • 5 8.71 

a HscBiCTEimoe S 1219 

BIT DOSSIER DE GESTTON COLLECTIVE 
OWW 3»5J 

147.44 



SEC REGISTERED FUNDS 
misnwi ranx.'.'rnetyuaJnfa.Dunicorn 
]35ctwS7ni Sttm.NY 1MEW128 
ft GAM Europe 
ft GAM GtoBol A 
ft GAM Gtooar D 
ft GAM mternuimndl A 
ft GAM tmenttotonal D 
ft GAM Japan Capon 
ft GAM Norm Aitwica 
ft GAM Aston Capimi 
a GAM Pauflc Bosto A 
ft GAM Foote BaUtl □ 
a GAMenca CapM 

tn GLOBAL CAPTT AL 14. . 

Bermuda- t44l t 2W l3l Fo*.IA4j529Sto7« 
JWH GLOBAL SHcATEGIES LTD 
« IAj Ortalnol Invedinera s 

m (Cl nnarvdalS. Matte S 

a iD) Global DnrenJfM S 

re in G7 Currency S 

w (6 j inti Cuircncy 4 Bond S 

■ i U Gioooi Flnanctal 5 

178 GLOBAL FUTURES t OPTIONS HCAV 

m FFM ini Bd PragreCHFO SF 

179 GORDON. HOUSE ASSET MNCT 

■n Opflrrri Fund f 

M GOTTEX FUND MANAGEMENT 

re j Suap Fund Ecu l 

111 GRANITE CAPITAL 1NTL CROUP . 

re GronHeCWBOJ EqutlTrd S 1 

80 CROUPE IH00SUE2 FUNDS JRMI97 
Til OR) 4« 54 74 478 

SluProfrfi^Lras 

JEM Band Du *01 

~ 7 1*241 

... j»ra 

Frandi Fnc — Dto 1065 
ft Global Bond. — DB76 
ft UHn Lka Bond 
re Pacific income 

2 

!& 

Europe 

Franca 

Gamut ny 
Internal tattol 
Italy 
Japon 

Joann Snroler Campaniai 
Low Amertco 
HOftn Arnoncn 
Nonti Amenai Saodto Coc 

Sy^rtand 


10*16 

19554 

)*P45 

m 25 


w 

LB 1184600 
S WM 
PM 30980 


1*1.19 

23865 

7071 

74*7 

7766 

5843 

7*41 


B13 

344 

1*0 

150 

144* 

113 


Ecu 

FF 
DM 

Lfl I*»^M 


45* 

564 

272 

357 

878 



_ S 

T 

t 


21* 

454 

257 

45750 

665 

232 

4.9*5 

2504 

1458 

)J>« 


B TbcnnKm Lot Am iM 
a Canqteioaor Fund 
SS3 DOWN * 5WI ECA 
Tto 18091 *45 1-toO Pa* BW94SI 
rr HignbridDe Capital Caro, 
si Dvenocto Ptoiforntuncq 
•54 EBC FUND MANAGERS 
1-3 Saato VLSI Harter : 441 CU™ 

EBC TRADED CURRENCY RJNi 

fl CllpW 

KiTEPNATlOKAL JNCOME FUND 

4 LPngiSrm-DMK Dirt U7JS1^* 

855 EO A F MAN INVESTMENT PRODUCTS 
141)44051014, MnrampMnjnngai 


1085 


r 1965148 
283428 

LTD 

375440 
SF 235540 


fl A4, into 
1 Dated- 
iLJnftod- 


oraBarar 


M«fl 

nr tltol 

m MkiT Grd Ijd - Spec huute 
m Mud GM CniMOai 


m MinUrtoCuniBitoM 2001 
Mini G GL Fin 3003 
MtolPWlGId 7003. 


5iy| 

_J -.■it) B iCftP) 

3ctM JPY A 'Dr-' 
jO»Wt JPY jiCftp' 
fmiecffif 6 cas 1 
Lain Jim UiD A (Our 
LOW API USD 9 iCftBl 
**8®C d) 5f« re ILSS- 

'gOiSSL* 


4744)4 

367178 

236713 

168732 

247*15 

1288609 

202132'- 

^1314 


Y IN2 

r IW2053I 
FF ) 423911 


IJ9J9- 

lOSOM 

li*5T: 

1561.77 


ft Bfltoweflftepni FursPt 
w Batureato-tH-irtonfl 
«M BERXSMRE CMC 2UR 104 141.1 J9657SI1 
E-AMiL gamer, arrestor* .ss'CatR-W , __ 
• A«raBl*Me*.-OlG«ra' I 

a Ansa Cap Grert Fd LM I *£*§ 

■ Amra tfljti t»o» 3reti i 4 J?E 

re Aft® Hqft! Ylfl OkiMLM S ^ 
KTJWtf* CAPITAL MCT 
to S*«dASiSP)M 
f ftraanev Funfl 


12025? 

89069 


.ConunMdhr Fund 
.CumncT Fund 
jDH-GtaLM 


TARUM-IXMfM 


JJ8.V4 

1291750 

JC5BP 

6224 



Ztoanc-. 1 Fund 

P CALLANDER 

• s-UWcr-f-Aiser * 

* -WCAton — i.-5'nflrt AS 

t cp feropr f-c ruc*-i Eiebbs DM 

•• CflJanotoF-Grore'nCja 5 

» C'SWfter s-;,gj-4h PW 

r Lnrjnsar E.MnU uUCrelti S e 

- —'■■sneer C -L’5 Hofil? lsm S 
U2 CAPITAL INTERNATIONAL 

CsaflillrT'Fj.’; S 

- CK-'MegHsn* I 

« CAPITAL INVESTMENT GROUP PLC 
■- C=Uc Grare" F jns I 

624 CSC INTERNATIONAL „ 

-EP iiyre Tereror FF 20237?JI 

S5 CHEMICAL IRELAND FD ADM LTD 
afr-AtHon 

a A rtiSiri-i****-: S 

2B CHILTON 

iiCr— Fu-: S«re.i»t 'Cutftwim u 

re Zruten inf* - bV lT DA S 

» Crt-ar i-re -5-.G DC C! B S 

KsTurar Aai «BV'i 1 
•M CITIBANK ILUXBMMURGIiA. .. _ 
*aOIS3 L-tortii-ro Tr*- '35* 1 4S...--I 
; &w»CE»t-{ i -ii ll 

3 rePatyntrfF -'S* * .4-.1P* 


K>519 

S8JI 


95* 


14£2 


lBJJ7Ji 

IM’J.DC 

)>J22W 


m An* na Gu Futures 
a, Arnano Gig Ciinendei _ 
re* ajamc Gift FVnonctote Cap 
.re Altwna GB Rnanctote Inc 
■ AMLAJptu PK • 
m AHLCflp«MMS r W 
re* AHLC “ 

.11 AHL< 

m AHL Sre gw iTL«d 

n AHL M FmI T Ite Trfl 
re AHL GM Cap Mart Ltd 

.-, AHLGUiummoddMi ud 
rr MAP CMwoTMod 220 
ire MAP GW 2001 ... 

LKKPpSSha 

m MAM IP SO 52 LM 
016 ER MTT AGE LI7N 05R6873 Ml 

: BAKSRfi. 

» IrmflDDfl UK VAArt rd . 

a emutaco oat?T Funft B 

ft E HIMOBO Giel Mmrrj Into 
057 Ell BOP A FUNDS LIMITED 

* Amencun Eflu-re fund 
-o American Ccrton Fond 

: 

N EUROPEAN H NAN CtAL GROUP EFG 

PPOTCrrJ JoiND _ . . 

i.Esafes- k* s 

ir PrcKflnSrra SwiffLaM 

re PutoraGAPCowiFuna £ 

• ProWi W Bond Fd-uss S 

• Praqra Bit Sand Fo-6tu tg;, 

PRCTON INTERNATIONAL B.V.I INC 

* Pimpnaiwmsi EaFd _ - 

• Ecu 


Si 

Tin 

7.)0 

1019 

10879 

22J2 

n 

17JM 

isaTs 

1 

13668 

1276 

14*4 

11.92 

1727 

1262 

1044 

181* 

1316* 

9.98 

9X5 


2447 

1J-S7 

14*8 

1)04 

57334 

43560 

1*787 

72320 


I HYPH0N FUNp 46ANAGCMENT LTD 

aolSKfife 1 " I a 


3809 

3456 

2071 

19*0 

11*7 

2212 

131*4 

.4963 

139*2 

19761 

91*3 

3522 

49*8 
2853 
24*7 
3108 
47 J9 


***05GUINNESI RJBHT 

<44)1481 7111 74/1 FAX 823B4 

? ^as3^ n -r, 

a UFGMWH$nlncBand 
a GiF EuntHWIncjSd 
ft GSF G41 8 Sfetoio Bond 
a GSF Alton Bunencr & Bd 

ft GSF Gkraoi Eouny 

ft GSF Antertam Buf CTO* 
ft GSF Japan 8 Pod* 

ft GSF Eunnxon 
a GSF Hang xmg 
ft GSF UK 

a GSF GtW Frefirthown Fd 
ft GSF ASdon 
a GSF Alton Smoasr Cm 

i WmBSSs 

ft iaf m» BawwJ Groom 
284 HAMBR04PIN HER RENAISSANCE FD 
m Omtman SntoU S SJNS 

886 HASENHCHLER ASSET MAHGT G*t£bK 
■ Hauruucnlar Cam AG S 9BaS°0 

. HPirtWcnworu S ^ 

^?i^M^^^^und SF *50451, 
m Hamiei worm USS Fund , S SOTW 

m Haim Eurepoon Fund Eee 5sB 

si Hanite Norm Anustcnr Fd 
m Hernias Aston Rind _ 
in Hcrenes Ernera MW} Fund 
nr Heeme* StidTOtoa Raid 
m Harmes Naoira Fund 
in HeimeaGtoUFond 
Hormil Bong Fund 


uord* Amanaa Portt*- 
184 LOMBARD. ODIEH 8QE - GROUP 
ft LG Sretlii A M COM CHF SF 


StoAMUnd 
Franc* 
unaed UngdomA iraiand 
Gannany A AinMa 
Sondiert Europe 


a Japanese 
c Pound SterOn] 
d CMtoklloil 
a Dtrtcn Florin 
a Hr Eum CumndM 
ft Swtol Franc 
o UI Donor Slion Term 
ft HY Euro Cun- OMD Fay 
ft Swill Multicurrency 
a European Currency 
ft Bala urn Franc 

ft Caavirttoi* 
ft French From: 
ft imsMum-tHvkltno 

a SMu Franc Shon-Tomi 


^euteSmrii S nort T erre 
CHF Gloom Baiancwt 
Omen Girlaer Siwn Term 
Bendi/Conv CHF-Dhrrojul 
Merit Cure DiuftuHng 


Dollar Bloc Band Fund 
Iruttow European LOpl DM 4333 

Uort AiraiicD 5 1554 

_ Pacific Pen S 1179 

fl Japan DTC fen 1304.00 

3 Soilem European DM 1499 

ft Eurapoon Bend Fund DM 1034 

ItS MAGNUM FUNDS 

nnuVWwre n»or>w37fiirMUw Far 747-354446) 
r Mpgitart AflOrtreGnyili Fd S 199 45 

* Moo nura cSjoal Growth S !»*< 

re Magnurr Ecqo S lJDa* 

a Moo run Punfl J ]Al«* 

re Moanuni Gweai Eq t 177*4 

re Magnum Hitt Eg S 103.01 

m Magnum Macro Fond l 10/76 

p Magnum Onpartonity Fd S 12894 

w Mod rum Multi-Fund 1 14104 

w Mowium RauJa t-cl I ITljJ 

* Mftflnum Pusan Eq t *o.g 

«■ Moonum Spec SHuartom S I18J0 

v Moonum Tecr Fund I 101 17 

ft Magnum Tvrta GterHi S laifi 

a Moonum iJ5 Equity S 14188 

re DLfl Capua Fund 5 101 33 

re DLR Grawin Fund . S 101*5 

■ European Focui Ddlpr S '34*7 

ft Gnitoanamni SarA 5 773 22 

m Gaileon omnl Sot B 
re Mew Cmn- B _ 

* Lance* Voyager Fund 

a PputRM Mu Groom s n 

re V'P Selea Rind S 11 

116 MAGNUS sacs Tel CeSJ n IS »4 4 

■ Boirtc GrooHiFunu DEM 

NA 

» Banc Groom Fund Sa*. 

NA 

187 MALABAR CAP UGMT OtotallM LTD 
ro Niaaoor Ml Fund 1 2 

111 MANULIFE GLOBAL FUND 
T:(85D 25DM180/F;ltS2) 2815-9S1D 
a Amencnn Groom Fund ! 

a European Grower Fund ! 

a GmpI foaouraei Fund j 


Olympia StoiSorta 

* Star FF Het 

Star FF Mnged Ser 


r Giympto Star 
■ Olympia Ster 
re Winch. Guru* Heolmcan 


Hedge !*r FF 


Winn. Hide into Ser C 
Wlncti Hldg Inn If-rF 
Otyrnpo Gtabai Hedgir 
WincK Reset MuUL G» Bd 


is 


otympto l rot Arotnoiie 
CAvrep-u Natural Petourt 


12152 
13251 
3068? 
108* *T 
1411 
471 9J 
210 13 
2790.94 
3145 71 
14)481 
1 6925* 
1*5755 
1 9TB 75 
1250*6 
21 4? 
1IT42 
40*01 


l 


IE7 OPPENHEIMER C CO- IHCFfi IFMBdto 

i Aromne iMwiiuitonm S 14431 

r Emera Mils inti ll S 702 90 

r inrl Hsruon Fundli S 134 14 

r Oppea CnWysi Into Lid S 144 80 

r Oppen Inti Equity Ua 3 12b 14 

r Oppen Paragon fnd lot 6 tj»«i 

■ Oppen Vtakto Irtl Lid I 11948 

lSDOPTIGESTlOH PARIS 

CROUPE MARTIN MAUREL 
*■ Dpuoea Gihl Fd-Fhea inc DM 224804 

e Opriomd -HM Fd -Gen Sup F 6 m 211 375 

re Optora Giti Fd-MI Ea Sue DM 10**12 

111 OPTIMA FUND MANAGEMENT 
73 Front SI. Homdten. Bemuoo 809 795-8458 
n Gramm Fin Fufum Dd f 

p optima Anemaltro Stmt S 

re Optima Emendd Ffl LM S 

■ Opium Fuito i 

■ Optima Futures Fund 5 

re Oprimo GtoOto Funa 4 

ir trauma Opportunity Fa tja s 

re Optima Start Fund 4 

re TTie Mariner Fa LM S 

n T|w plainum Fa uo > 

112 ORBIS INVEST Bto*»6a(«T|2M 3008 

re Cnste GtoDto 52* June) 5 

it Onus Opltma [Te Jurot S 

re OrplJ Unerased 04 June) 5 

sanau csReauM 


10.68 

n 

nl* 

1940 

nje 

39 

1 


a PC- Band Pan 

Mon- ftabaco see Amtoamam Stocks 
lit ROTHSCHILD (GROUP EDMOND DEI 
GROUP FUNDS 

TM 44 171 1ft) 380* Fet 44 171 Id 10» 

< Amui Capita' Holdings Fo i 43*4 

e Leueroat-a Fnp HoMnas | 100» 

n RastrueiL-md ugj HaMeigs S 12213* 

MANAGED F UN T>T 
TM 353 479 14*1 For 157 472 *86 
-a Emera mg AmenM Fund S 
ft Force Cosh Troamonnal CxF CF 

ft Forte Cosh Tradflionnel DM DM 

ft Forta Coat Trod! 1 1 OrwvB USt S 

re UHCDm S 

re CtP- valor SF 

re Pn-CliaBenae Ireij* Fund SF 

r PrSena Fa Hr Emu* MMi 

p Pntarvr Fund Ecu 

p Prtocna Fund USS 

p Prtecuflv Fund Europe 

p Pitoqmrv Fund Heivelio 

re- Frt- Japan LM 

i irlKium hotnon 


tmertcan FunaaB 
Latin AmcuKdil Fa u A 
Latin American Ffl Ci B 
GMW GrOMthCJ a 
Gmw Grotton U E 
DM ' j MW Growth 
SmoBtf CMIKmlei Ll A 
Imata Comeanm Cl B 
European 
Aston Growth Fd 
China Fa 

Emerglna Manure Cl A 
Emaroinu Manns Cl 8 
'rlm JrLKJum L L'llUHK 

Gloria Bow new 

GiooM morale -3i A 

Giitoai mcomrCI B 
DM ukiaa Bend 
Emera MH6Fb inc Cl A 
Emera NIMi Fu me CJ B 
Emera Mk 1i Fti lie Fd 
OsGewnmanl 
Mcmagod Cunenrv Fo 
DEM Liquid Resent 


DM 

I 


DAi 


IJ.34 

14 7* 
IJ91 
18 3* 
1354 
»42 
1BJ5 

13 83 
II 5’ 

14 20 
11 u5 
31 23 

11 J* 
1140 
11 *8 
i:*4 
1049 

12 33 

U74 

12 31 
1005 

944 
74* 

945 
10*3 
i.:? 
8*6 

ID i* 


Her CPS 

ft lawn 
ft hwn Yield 
a inrernoncnai Bona 
r Cl Propony Securities S 12 07 

IN THE ENVIRONMENT INVTiM 1U4 442H8 
• Orantrs S 5 ?9 

?n*[ 


i a* 


i*:?a3 

1873 63 

13333 X' 


ADMINISTERED FUNDS 
Tel 352»T9AtolFa> 253 J?? 906 
a Ejpm Eur Farm im ra Ecu 
r turepeon Srral inv. Fd Ec 
r LOInBPa Aston Groreth 
.- FflOft: UiMi Fund 
c letocrnn; invecl SA 
r US Bondpius 

r 9IO04« Anone 5 

152 SAFWE GROUP/KEY ADVISORS LTD 

ro »ey DiwnWW inc Fd U3 


51 M 
10987 37 
1051 30 
1135.80 
293141 
11P9B3 
139424 
149*0 
155923 
1345*8 
17*717 
153 228 
. r? 23ft 55 
FF 9aJ7?J8 
Ecu 1174 34 


Ecu 

Ecu 

IF 


2213 
77 700 

rnwi 

1384*00 

5972.99 


re JDPI 

166 THE SAILORS FUHB. SICA V 
LUXEMBOURG. TEL 1)6552 462244 78* 
r ir»n Rued mornur Ecu 

Ini Eoutty Ecu 

re Italian EquflV LR 

re Urn Flud income Lit 

re BaJdKW Pcmioljfl 
: Inert Term 

re C 8. C Bonfl 

289 THE WANGER INV CO PLC 

re Euro intaUrr Co r . 

» US Smaller Cos 
Iff TNE WIMBLEDON FUHi 
i Tne AimPtedon Fund Li 

a The WlmWedon Fund Cn 

147 THEMA INTER NATIONAL FUND PLC 
Pikas « 13WJ? 

p Ttama Hedged US Eaurtes S 119 » 

141 THORNTON INVESTMENT MGMT LTD 


Lit Href; 0A 

LF 109*4 03 
S 10*8 49 

DM 15 94 
t 999 
T: Iff 1*7 6777 
i 111612 
15*1 39 


>5.24510 
10336 If 
1347219 


Naiuw 

nflicr Tuques, atm 
a Gronere Ana P« Fa 
a Omnere Comfc into TechFd 

a Ortman Growth Fa 
a arbitw Hoatir 
j Drtraw. Japan I 


J 34 FACTUAL 


3775*1 

41483: 

8*458: 

43*78: 

43*00 

4*7542 
4.96201 
tel 50: 
1184331 


BituB . M: 15521 3 272 llOOrtax: (152 1}5I3166 1 
J Eromlty Fund DO J *517581 

a Infinity Fima LB S 895 4163 


NwroiwFanq 5 17*50?0 

ft Sip: Huh Yield Ffl LM S 230 4658 

3 Otto Fund Ua S 1684781 

j Twlnilar High Yield Fd S 1120185 

rat para international fund ltd 

ITT Clou A Stan 
136 PARIBAS 
PAFVFS7 5UB-PUWD5 


IBUIS 

2 120 


japateu Grorttl Fend 

PoOdc Brn-n Growtq Fund 
ResanaB Fund 


133821 
7 0573 
4*JBS 
1*686 
24108 
75771 
13034 
27314 
2100? 
2 7141 


^9497942. F»9*4»«40 # 

IM AUVERICX /CAYMAN) PAS) 949*45 6 

at MowrtC*. Fund U3C 5 282*8 

111 MEE5PIERSON 

RflUnSS. 10I2UL AmUmkan 00-5211188) 

* Alton capital hoHbt 
re Ariai SSeOton FdKv. 
m DartartwmiFd.fi; 
re DP Amer. Drowin Fd K V. 
re KetW 21S1 Conlury Into 
re UHUWBM Cop Held 
p Tne Yrttotir 5aa into Ca 


R 



re Doom NV SIS 
112 MERRILL LYNCH BANK (SUISSE] SJL 
5WISS FUNDS 

e MLfiS Btertea A USD * " 

ft MLBS Balanced B CHF 
AILB5 Fjmd inc A USD 


4354 
m H 
934*0 

702 

IDCLBl 

BIT 
44*1 
B4JB 
154 S3 


PAPVEST SUB-FUNDS 
EOlflTY POPTFDUOS 
o Panma Aieon 
« Parrev As*m Grorrti B 
a PantteT Belgium 
o Paneto Europe B 
u flmeto Europe MlflOto 
j Rarueel France B 


a Pervert Holland B 
ft Parwst Holy 
a Pen* to Japon B . „ 

a Parmi Japan 5airti Cap B 
j Panrod ScandWTU B 
« Porrcrs SefflAriana 
a Porura UJB 
d Pniveo USA B 
BOND PORTFOLIOS 


eaigni> 

Furtesl Op* EcuB 


1J7IS0 

7*8- 


fl Poruesl Medium Term BE FB BE F 
^ ^ T p£h? S BF 


R21J 
. 7*20 
822500 
45 IU 
IP. 2SJ 
1*304* 
W18* 
128 
32144 
^1*00 
00 
4317 

1954 
41057 
14419 
4430 

HI3J00 
352.91 

Sisk 
DLL 1228 W 

DM 4*9 90 

5 21656 

Ezu I XTt 

FF 1274*4 

PI J03M. 

Lit 752580 OP 

DU 1728 

C IKL68 

18*51 DO 
Sltf 
2478 


bI 

Ecu 

w 




. Tower Fund C4noal Bend 
.- Tower Fund Gtobei Eduiqr 

153 SANTANDER NEW WORLD INV. 

ro Enwrdlnq Mil Cerr Fd S 101 » 

ro Cemntanaor Fund S 143*49 

m Eiprororrond S 718*83.40 

154 5KANDI NAVI SKA EHSKILDA BANKER 
tm-T-nnnv leAflaktee-laadcr 

S-E Biwyf N FUND 

ft Europe inc i 1.4*94 

a Fiarran -Bilemlnc S 11144 

a C- local In: S 1 4*93 

a Lftkamadellx S 141*0 

C VBIMIMIIIK S 1*44 

ft jgpon inc t b*jsp) 

ft /.utialiK i i.isik 

a Srirtgelnc 
j rjonWnvrftc inc 
j Tebnotom me 
; Sumo* RjiMtond Ihc 
3 Avkovrangiiona me 
St AN PI PONDS 
a Equflv mn xx 
a Eteurry inti uk 
d Eqwrv Gloom 
ft Eauity Nat RelouiCM 
a Eauitv Jnpon 
a tqunv Nordic 
- Equnv U il 

Eflldn- tonhnrnlca Europe 
EQWV Meditornmean 
|aunv Norm America 

1 Emeramg Mtetol 
1 Ediiam curop* 

* — If 

e^FMmelonfl 

— nd inn ir- 
Band Europe Arc 
ft Bond Eimcfl inc 
a Bend Suwen Ace 
a Band Swadon inc 
a Band DEM Ik 
3 Bara DEM Inc 
ft Bond Otoor US Ace 
a Bard LtoJtoillS Ptc 
ft Stmuan Flediec Bd Ac-: 
a 5>»ed«t Pieirnie BJifK lee i 

s snon kmailiD 4 

ft Short Bond Swedteh uuior So* 1 
US 50C1ETE FINANCERE PRIVEE, GEN 
ADMINISTRATION TEL -41 228183111 


o Pacrt Into Fd 5 A DM 
ft Eainrai incaucr Fund 
ft Thor UDI DiOflans Fa ua 
o Tngmlon Gritoulnc Fd Ltd 
c Tnannan Tloer Fo lm 
ft Managed Sracden 
■re Jakarta 
a ► orw 
e As«an Grown 
ft Japan Worraint; Fund 
ft Aixet infiov Into Til 
NEW TIGER SEl_ FUND 
ft Nang rang 
a Jopon 
ft *oiva 
a Pnfppdtcs 
a Thaibna 
a MdtayHft 
ft Inaortaud 
e USS Ur'Air 
a Cnna 
j S, 


DM 


U 1o 
jClVi 
P 82 
Jre.n 
32-63 
55 75 
2c St) 
iLi* 

S«s 
to 28 

4.-9 
10 82 


B.S* 

1011 

4143 

J4J? 

408 

1*1 


999 Other Funds 

ro ADSCtulii PulL-rn - -V)i. ARA1 

Actum Lpvatpqftrt r-a | 

r ACMd-ao F 

ft AflrtoiJft 

Akiuirtoin ad in jure Fa l 
ro Ana Futures F ; Lift 
ro Anna Ipmlarenl I 

. Aral's Find Bone S 

re ArauiFurg EduUr \ 

n Ai-nn -ft Ufl 

r A!«J O-fljnu Fi-no 
i- Asia urston 

m lull »k Sion hdj . 

.Ti AluxMinnta'HL 

re Amchfl Fund Lie 

m Au'icr mu L'fl 

- *A5-= * Tuna m: I 

t 3-Ii rtfl'PCA-r 

- BE fft inkirraitonai uo 

- Black c-tem-rafl LCD 

.- oiftiniar vtoBdl Funo 1 

a Sioik'-Cdiite into Lid - Bi i • 

.• CdL 

ro Cam.rrturr k'-rou-cn Fund Ltd ! 

ro -•.anygti -.-PF . A 
c ca L'n-fl S-c-lr.£ Gitn iVn 2' 

•i :nt Lmrou-ao -to Hr 

,i >Cor L'nuintod S-c - ha- Hi 

•r -.’ft«rCioaa'lnftnuroHiri 

a CftfttraiG Eai'am Euro SF 

-- ilertTuiy Futures 
■ro Ccryin Smtn Funa 
j Cmfloqt SctoCi 

OrwJro- sir-tc refund 
.1 Olc-ftftj Lurnuen 51 

f Cdunoui wiamas ; 

- G)"-CT. Ir.'i NV ! 

» Loncc-g.lco 2-nj.ron Cera i 

- i jn-Terar lire F'"to ) 

- Ccrv.M ATTori I'.il 9 = 

a u'-iciasi )a- E-rui - T BF 

ir LCn'il".'-.! L'LII B.lui Ll BF 

i- Ccmiijn ON- .".on 3 Dv 

- 2r»-g Drto .Jap 

Cl-Ihjil i-.n S3 : 

a 2i .'.rn .‘.'re! '.‘ill- in Til i 

ft M Arorniinn BJ Fft 2 

r- D£ Snc-I Fu-!3 Str-r.j* ) 

- Dre-e roc Glcit-Jl C Offttoi-ro'-ftt Sr 

■" 2-000 Cppjn Ffl Li: -V-ov31 j 

c D- ,# G llalm Banc Fund # 

DbiC'.r J-nreiito Funo 4 

i DV‘ P-'-sm-on:. Fj 2 

r EuS Starrs-. 3s Fonft Lift i 

-I Emerge Cflf-'iai 1 

Emu tui- loft F'j; A BF 

ft Emit Bmp Ira. Plus B BF 

ft Emil Firoftftre I "S3 e iu- i FF 

ft EmH Fraai*. i-s: Flos B FF 

u Em rt 'V.-ro ins c i/i A 
j Emp '.'■cm-, mi Pin. B 
.• Emit njij ir.cre-i Pius - 
. fr-i.l l^r. IflfluS F*iv B 
ft Em.l N;tn IfiWi Purs A 
ft Emil 'iem mj-i PiusS 
j Emit i[u,n l:-3 Pin A 
ft £ mil Saairi asr Piu; fc 
c mrf S’.— -171 1 no- 1 I ms 4 
ft E it-* *. ...s;i iintb i Fires E 

a Emil L'k "nsaiPlu’.re 
Emu Ur man. f iu> B 
•ro EiuM's-si-rti 
ft Siftil-fr Funa ua 

ro F-arnr- mriFura L'S 
— Farum Furifl 

.ro FrreCUfl Or—’.-fth' Ltfl 
U rlr-J Tlijrn’ Ca 207 
n -flrJul I V. me- 
re Fonfc-i 3 ■ inn Bono 
r F:muiidcn 19 irai 
j roniwsc Gristr Ffl 
u Fonnuac Pot. hu 
Foniiuo- Graup i'< 


1i3i?T 

i:oiu 
icr-2 "ra 
n.ir 
1T7j 
iw»*2 
1339; 2j 
141’ •_ 
IB0313 
ire 


**73- 
1 3c-S 9 36 
i5~- 
114 'I 
3*4 Is 
13 442 
■8 77 
1C «E 
IJB6 18)9 

1042 61 
Ub.'- U 


■sh 


lit 

v.Cs io 

lftj'0 

2'-'j At 

1 74 c: 
ii'j s:- 

K43*: 

I24CJ 

^5.45 

iosr.to 

n’-4(>;. 

i:m» 

527 •-£ 
:i»i. 
6.0 >) 
33 28 
107)6 -B 
■; •).' 


till 


111 uB 

; 3o m ~oc 

113*6* 

1 IBI’sXO 
20552.10 

■jr:«o 

u*4 4t 

ttft-ro 
174 j; 
1519:500 
liSMU.’ 

143-52 

1514 — 
77BI7C3 

24FM)io 

uJi* 

loiO- 

) r-'a 

TO 

a<: «: 

135 15 


a Eri LotOfl 

THORNTON TAIWAN FUND 
a Equity Income 
a Equity Gruwrt 

k t iron Euro- Bnancuti 5 

n Tuan Fre Dena S 

a TitonFoim i 

k nwri Cuirency Port ! 

it TnaaOUai kro-Jfl* 5 

IM TRAIK GLOBAL FUNDS GROUP 
ft Tram Gtcfluil into Pic I 

re Tram Gtotal Fbed Inc Pic i 

it Trcrat CtoMl E quniftS Pic 5 

1*3 TWEEDY BROWNE VALUE FUNDS 
re US MB' it* 5 

* inn Vowb 

■» inn vau* S- 

THriS*! -I-33M6JB Fat 0041- 1 235-1227 
a GB5 Bd InyCHF Oc-mMUc SF IjJJAOti 

fl UBS Bd inv CHF inrenrai SF 2S3 47CV 

" "" “ m» Canwrt ami ‘ 



t 15.15*6 

! JS 

See 33*821 

B ’iS 

s 1 nus 
s i.toi* 
>k 135433 


_ CmsflMtiu naia Fund 

m nay limo Grow Fund' Ot 1015 1 

m Faro. & Fu rums Fund S 1C 

m snpieaK Assut Mngi S n 

m Coirerfl*- iniesmtenr Ffl i t 175 

m Conrerte Ruesimeru Ffl 2 S 170 

m Sdecllri Fulur* Pomc-ho S 1 A 

!M SOCIETE GENERALS 
ASSET MANAGEMENT F4J1 <2 1414S4 
Wenw-jiriiv/rywr: secaen unrtsqani 
j Socnen burmainmi 5Kfl» i lire 

re SGFAM Stranrar Fd i Fin Z H 

re 5'SFAM Slratoav Fd FRF Die FF u 

' TELUX FUNDS 


. Inn America Lflilna 
_j imr Auo Nun Horu 
earn. Asia New «o«4 
|a me Canto 
Efl ln» Energy 
Eq Irty Europe 
Ea in» Franc* 

Ea m 

Fo Un 
Ea aw — 

Eq toy tonal Britain 
|im laorta 
I inv Bohr 
g inv Jaopn 
jlnvNeiBertanas 

S 3 Inv Ptaifte 
q InvSatnflmavo 
qlnvSmrtiC EuRtoe 
glnv Small C Europe DM 
I Inv 4m C Stviliettana 5F 
l Im Soutti Afttofl SF 
Eq Im Surtnertona 
. Eq Inv USA 
I Ptoiuct Iht Swmenand 




manic- < 
kj.l ilcta 
kJilL • lIHrtn t -CJO 
Lit Fnyallc List Cenrurv 
LA Fawn* Hgicinjr; uj 


LJ FoyelT* ^autonrtpt'lfi 

•T Lde C-K«il 
Inllf.-.fl 


n 


t *4 
P»C3W45J 
UGKMU 
T1861 
Fl 
SF 
5F 
SF 




luy^mikSrg Portfolio 
c us Dottar Ftaed me 
a DM Fined tne 


& 


046127 

7D7R7* 


Pnrat n Airatfotn Ej l 
Pntttto Cuasaifl Eq Ffl 
- aFd 

.. -ICratFa 
Proton Jppan Fd 
ororon emanmo Ea Ffl 
PraSanuloia'Fd , 
d is ooi OpjafttortBi F-jnn 


T0CJ1 J 
646X77 
8S5S3B 

857T»! 

. w 

l w 

& 1004*8 

S I0BI4 

I 

FF 1325471 

FF 1 1 19A.fi 




ra_ . 

a Suva Franc Fo 

TViSS&m Bf 6 

281 IK CAPITAL MANAGBMEMTt-TTl 
5M80186 Fnc (BSD 1869 6991 


Ecu 

5? 

SF* 


3406.21 
181104 

2009.22 

11 a* 
1*4)5 
12-53 
1173 
1113 
1176 
19*80 
1»<H) 
19.770 
15*90 


a US Cxutar Brtflnrod 

a ECU Balanced 

a wertoreUe Efluny 
d Europe Equity Cuss A 

d Eieap* Equity Clflss A 

a Europe Equrtr 

A Europe Equity 

113 MERRILL LYNCH EMERGING MARKETS 

a CUM A S 11*1 

j CHUB i 14-54 

114 MERRILL LYNCH EOUiTY I CONVERTIBLE 

mmmmresp * „ 4I 
l ^ _ * ss i 

BASIC VALUE PORTFOLIO 


fl 


IB 


CONVERTIBLE SECURITIES PTFL 
c das* A S 

a ans B « 

j Clou O $ 

GLOBAL ALLOCATION PTFL lUSfl) 


GLOBAL EQUIIY PORTFOLIO 
a Use * S 

j CtatsB 5 

a Cia»0 s 

GLOBAL SMALL CAP PORTFOLIO 



Prawn Evartrten Stack 
e PWc-n Fated irs _ 

it Prwsn/AyftCt B«Fj 

BS9 EVEREST BI ^A L fTBtil-Ml-W-grt 
m Evom: upJir FmrBJfti Ltd | itgg 

r EverdtocSSi-rtUo S Ztfw 

860 FAIRFIELD GREENWICH GROUP 
m rtSrancpfl itwegiev Ud ; 

a FflirCffa inn Ltfl . ; 

» ta-Ana SenirvlM. * » 

.r Farfrtrera Sentry LC - | 

a Sarfttetfl Serotry Ud S * 

ft- GhCiynr rojv Hill LM * 

»■ M«<ru InieeoTt DC J 

-- Sewn idled U«| * 

AS I FAIRWAY HfTEBKAVmU. UD 

- S'3**crt FuTfl WJ 

ro SsgltortAjtoFuM } 

m set^ra C-coominfly Fd } 

n taHtqrfl&rtrtllCMl'FG 


2227300 , 

341 45 » 

47070 

101 

loi.irii 

*4*410 

10A45 

6947577 

;s*l 



Fa Ser a 

— 10 Fd _ 

Asian Dynamic irtcorne Fa 
r Aeon HM Income Ffl 

re S^SElWtaFfl 

?5 l 5ffi B J£SS‘“ w,,raWLTD 

» 

im» .'-‘BWtR 

**#p7/)iYara 

TiBtA4)i8481 <l . 

3 Msytmunt wrame Fund 
a VKonw Pint Fund 

0 PtonaarMteW H , 

fl OVOftlin Glocw SttotoBT 

1 Asia 5uper Graart . 
a Nippon WbirmFenfl 


rr European L 

i 

t owf 

fl GiQtral Utteim^ 

8 GnrrtsrC" 
a Nqtpen E 

5 jS^tAffliSStGnWfli 
a Stall Big Rffiv* 
a UK Grotton 

g*2 fTALFOBTUNE LHTL- FUNDS 


iuwS?QUITY PORTFOLIO 

I sss \ 

i as? 

LAT^AMERKA PORTFOLIO 

fl ass I 

_ OosP S 

PACIFIC EQUITY PORTFOLIO ( 

fl oS B S 

TE^^LOGY PORTFOLIO ’ 

a CCTiB s 

II CM! P 5 

Vra^NAW PORTFOLIO s 

NATURAL RESOURCES P^FL 
Class B J 

S S5? \ 

DRAGONPORTFOLlO ^ 

a D 5 

a OoSteF 3 

IIS MERRILL LYNCH OiDBALCURRERCY 

A«^m?^n? s PTFL 

a CtauA | 

ASIA^GER BOND POPTFOLJO 
~ lA-i 


3AA0 

JAM 

2446 


?» 

17.90 

L5I4 

1473 

ISIS 

17.77 

!« 

11*6 

1171 

1206 

2275 

2089 

22-31 

2250 


BF 590*00 
SF 268.35 
-M 30781 
, 5 '*5 

iai 149.95 
FF I Oil. :» 
lt tfijji ao 
H 307.78 


BF 


S-CHF 


*44100 
151*3 
225 84 
108 74 

= 122*4 

PqruMT GUnl 3 USD S 11*78 

IIS PARIBAS MULTI-MANAGER GLBL FD PLC 
m Paritai Aikmoiw mv Mnr27 s lion* 
117 PARK PLACE MAN 

• PPlA 

« PPl A - . 

• PPl B 3)97 Gtore Port J J0J3I7E 

• PpicSw Eur Fionttori S 10.177X6 

re Gfans Copflni LU DM Jll3**£ 

131 PENMAL FAMILY OF FUN D5 
' AIM HolBrflSNV 
r Asian HMrtngs NVB 
> BiSiue 
1 Enteniuig Mils Hidps 

' sr "T MUs Hido* NV B 


E PLACE MANAGEMENT 

13)95 European £o 5 'S49S3E 

lllte Eunwean Eq SF 1IJ3768E 


raeia iSnr 


ft Scgedn Fa Eq Germany 
3 5ofleju> Rt Eq ittofv 
A Soqekn Fa Ea £«tin 
a 5«Brt)» £d Ea J.mtSerl 
3 lofledn Ffl EqUt. 
ft SflffcM Ffl to Pnonc 

i 

I SlWiSKff 

§a inrtan iuBam 

6fl BwtdiYjQrtd 

ISSn 


E fV“ 


34.98 

*15 30 
85*1 


in icatue M-q value re HP 110 
UBS iLtnJ Bd 
U S ILinj Bd Iny CHF t 
u s (Lin.' W fny-CHF T 
U GiUto) bd inv-DEM A 
U S iLu.i Bd inv-DEM T 
U 5 (Lur) B-Urrv-FRF 
U Silin) Bd inv-iTL 
U SlLflil Bd Iny-UiD . 

U 5 iLvt) Baint-SCUSA 
‘ •lie [Lara: Bd HIU-'EL 1 


'It JMY 
IS3 3WJV 
1JL.4JIV 

.. 7668B0V 

SF tWreilO* 
S KJIXH 
SF l?*30y 


CS 

5F 

IF 

DM 

Dp'S 


140730V 
II jVOOy 
IUQ70, 
iiaTiOy 
13214(9 
1414 Iaf* 
1411*87 6?1 00* 
5 1I6J3&I 
S 1«0I«Y 
Ecu TO**** 
DM J*3J70* 
S 10J.14T 
121 Slf 


me* Fund Ud 
a Lire- 

■•.m Fd ua 
Sw Hc-iamm, 
iitaocra Gmhon w v 

IftL tuwr-Jmerat LM 

m Metw. 4 InUThOlertre Ud 


Iiu-Aiutuil ftd NV 
T L-d 
-no Umilia 
rfjm Pftrtner, 


SF 


UBS iLuai Eq ini BiMccn 
ups iLual Eq Ulenmn Euro 
UBS tLua) Eq t-C3wio Draper 5 iff 4- 
_. _ui> Eq i-Eumvimm Ecu )15«re 
L'BS (Lull Eq SK-USA P&r ? I1*S>0* 
UBS >Luu BaSIC-USD E.r 5 1CD 9j 
VB5 ILuai Med Term i-AUD AS 101 78y 
UB5 iLuaJ Moo Twin i-CAD CS IOC 3»y 
VBIILuu MedT I -CHF A SF lUAreJOr 
DBS !Lua' M«1T L4HFT SF HOUJO* 
UBS 'Lua> M« Term I DM A DM IGA8»* 
■JB5 iLuai M*d Term l-DM 7 DM HlJSOy 
:: .Luo Med Terml-ESF Pun. 10033 00 * 
JBS iUpu Mm lemi-D9P £ _»9 72 t 
JBS (Luo Men Term i-FPF FF 5Ii'.»*r 


j 'JBS lurvl Mred Term MTl 




RmndateS. Fur m 

Growth n V 

imeeawii rtdvs N v. 

Inymmam tddqi N V B 
Mete A toomtnu recall ora 
Millennium Daw Htagi NV 

MnenlLta 


DM 


117407 
1165 06 
I345JU 
140543 
139461 
48*0 84 
1437 48 

^51 

1*42. 79 
1924 75 
131175 
1 049.54 
2*71.71 



1167 
12 4* 
1 172 


68 

1445 

llff 

1447 

1464 

19.4’ 

1&B5 

19J57 

1*4* 


ERPETUALFUHD MNGRS (IERSEYI LTD 
45«4ffiMtatoito OtorntorLSeata Str 
r Jersey. JEftBWS. >44153448448 
non: Am Grenh Fd S 1, reOTOZ 

T 94642 


' Otnnonr Am Germ Fa 

Off snore AMaii Emil MUi 
Ciflihots pmero Co» Fo 
CitMioro torroean Gunn 
Ottihera For Jog Gwtn 
OffiAoro ine Groaflh Fd 
ONtonre JODOttM* Own 
Oftsmie un Am Gwrt Ffl 


8. 1385: 

143DW 

5J553I 

:<*n: 

10652: 

I^W: 


UI 43092 J» 
P*is 3*23 00 
C I5'8 

Swttrfd CHF II 82 

fl SagMua Ffl Ifjxm uun USD USD 105348 
a Sagtfen Fd l.lortey MIC BEF BEF 509JB76 
a SagetoiFo llonerAiMEw. Eiu ’*2200 

j Sogetaa Fa Money MW ChF CHF » i too 

a Sogehlr Fd Money Mkt DEM DEM :054» 
3 SagMua Pd -Mono* Mu FRF FF 194.7786 

a SogefcuFd Ataney MUITL ITl 32?3A05S 
157 SODme ASSET MANAGE MENUNC. 

re SAM DnrerJttad S 153-B 

re 5AM Etinoo me S 1012 

re SAMi7AcGst Hodge 6 1*7 » 

r SAM CraportunilV __ S 14*08 

re SAM SITOIOff '.'55 Gta! * 
re SAM Stroke* SEP UflSt 
re GSAM CL-mpHite 
re GSAM DM.CdatP06>la 
a 05 AM Ch F CDnqmnc 
ft GSAM GBP ■lomyts'Jie 
3 GSAM Money MU'. 'JSS 
f GSAMMwMyMruso 
a GSA.VI Mertey 76tli SF 

0 GSAM Wane* MUi DM 
> GAMSAMOrmga Fame 
r- GSAM Diode 
ro Ararat 5AM 
IS* SOFA FUND LIMITED 

1 CtoSi* 
ro UruEl 
-I dauC 

m Oom-D 

m Tne Cyprus Fund 
UPSOfAES CAPITAL INC 
re Arom nn tjuarf Fund 
re Alton Heage ftind 
« Manoi Hedge Funa 
140 SR GLOBAL FUND LTD 
rn SB Eunogan 


UBS (Luii MM mv-USD 
UBS (Lira) A WI Inr-tEV ^ 

UB5 'Lull MM Stody-'IDR 
UBS (Lull MM JtoOV-llDRj > y 

UBS (La a) MM 3o» (MTR> MrP2*l4 TOO* 
UBS (14)3 MMStnv-WYPt S 'Mi97Ur 
L'BS tint) MM 5icav-<THB) THEU M9 0'0y 
UBS (LuuM-MStCfl.-lTHB) 1 1201 JH.y 
UBSILu.'PlIFwIntCHFi IF I'AblCy 

ubs Pan in* uk fCHF" _ SF 125 iky 

. - - (CHn jp ,^5 ^ 

. R ICHFI 5F Idoav 


.... tec* 
U1I08336 OOoy 
‘ ICO 410* 
jlOATOk 
THml-AEU Ecu 1l5570y 

BF 2969£oOO 

CS 1190580 
SF 422X1?) 
FF 5*313*0 
C 47*923 
1411235617000 
Y1Q2V15 003 
R I'teJeeO 
S 1 1 rl 720 
Ecu 5944*0 
IDP t 


S 1089 7^29 
DM 1041 71*0 
5 1437*345 
DM 1415134* 

t 9.91*. 

S 23.41 

I 441.10 

i 314 W 


DM 


per?PCr o^?hor£ ihc acc^jndTtd 

0 E Bond 0*1. r 


Money MaiMOM 


— BWidCtosi . 

USS Martov Mo riel CtoM 
148 PICTET AOE -GROUP 
re plEf^GlKSfcgl-CHF 


P;CP Gotct)( (LmJ 


P-CFttUfraneaiLiHJ 
P CF vatjtar l>jjyJ 
9.C.F viMd (Ua) 


P.FLGlFhedincL 

PFLPOTWalCHF 

^issnm 


uropboi 

r~ IS MroatidMl 

m SR Eurapean DM 
m SP Emergina 

161 STAINES FD MHGQK (GUERNSEY] LTD 

re Curt ConceC Ttoo Thomnnfl J 93A2! 

r Jli-Fasflr imruICa I 

162 swisi bank corp. 


1BC'7B 
I6iff 
1*9 W 

17380 
190 07 


ind'OCTliveMinVoluoCHF'TS 
uBS iLiru Pi I Fu m iDr“ 
UBS Pot (nv inc (OEA« 


DEMi DM 
DM 
DM 

Mm value DEM95 PM 

UBS ILmi Pt I Fla in 1FRF1 
-S Port Wi InCiFPFl 


125350* 

132450* 

is; 020* 

■ MOOT 


UBS Par in* inc lUSDi 
UBS Port toy CqpG lUSD) 

ubs 1 Luaj pi i-Ea l p ryiDi 

hi ten n *e Mir. value USD *5 
■JBS ILual Pit Fix In IXEUI 


FF 4»JU0y 
FF 483080* 
FF 55* 18* 

Lirir7i ot umy 

ui liaise. cu 

ui newoo 

5 11*3*0* 
s 05.5 Wr 
S 95Ji»r 
S ’00 00* 

|-M I77A40V 


Ecu 

S M 

M 

M7I UEBERSEEBANKZMMlIFAY 82587 


108*83 


5BC ECQ Prof P World Eq 
SBC ifton-T BP CHFA 
SBC Slisn-T BPCHRB 


SF 


P F.LVtfwnfl OEM (Uo) 
P F L VUDonfl Ecu ILual 
P.F.L VotaCtod FRFlLUil 


. A-J J 

fl Qmte B-l | 

AUsfflSuSSl OOLLAR PORTFOLN? 

O ton ^ 

COMMA* COLLAR portfolio 
d Oou A Q 

CORPORATE HIGH INCOME PTFL 
fl CtanA-l I 

SfiPS - ? a 

QduB-1 8 

iSsCH^MARK PORTFOLIO . * 


1IJS 

1263 

nia 

1155 


W 

ms 


■ P.F.I. VflrtondGBP iLu> 

re P.F L VBBCtod SFP IUIU SF 

» PFL VaXxnO 1250 tui*) S J 

fl P.l F. Latin Amenta S 1 

re P.LF UK Eounfcs t 1 

to PJ6&C.F VolpoR] l , 

re Pilfl A C.F VBIlMaunT ' 1 

» P T F 3 Btoraot S 

m PTF IGlelxS value 4 . 

» PTF Auaralaua s 1 

» P.T.F. Efliiem Europe DM 2 
» P T F Errtara Mtoi (lujj S 3 

» P.Y.F Eur Ooper rLu»i Ecu 2 

■ PTF “u royai 1 Lrai Esu 3 

• P.T F. Irrtl SirtVI l«i rU'X) S 5 

■ nan 4 Ptter SF } 

to Piaar Asia Oiowltt FO S 1 

• Pldet OtngaRorte SF 0 

• P«30l Sttev LOO SF 13 

d Pm*r Wuirej* (CHJ 5F U 

141 PREMIER INVESTMENT FUNDS LTD 

1. BoilUBGT. Grand Cannon 


Prarrjtol jI^Hv Fvnd 
m Prtaider Ml Eq Fund 
m Plainer CIMYIM PUS Fd 
m Pranuw C*tal Ba Fd 
.n PramerTotel PMutn Fd 
143 PRIMED FUNDS 
m Prtmrefl t^jnd A 
r- Pntruxt Fund B 
143 PUTNAM 


1017 85 
1076 42 


innmEnv into. St. 1 


. r :snen-T BP DEM A 
sfiCSnarl TSPOEM 0 
sbc snon-T bp usp a 
I fic Shart- T BP USD B 
SBC 100 Inifc* Fund 
SBC £ quay Prt-Aiwrafc 
SBC Equity PHLCanoda 
SBC EqeiS Prt EurTCU 
SBC Eq PTfl SAM Copier) 
SBC Ea Ptfl Hang t onq 
SBC Ea Ptrt Sinaooore 
SBC Eq Pill Malanto 
SBC Eq Prt SAM Cqpi USS 


Beta Ptn-CAD a 

SBC Band Ptt-CAD 8 
d SBC fkiryi PtlLDEM A 
A 50C Beta Plfl-DEM 0 
fl 50C hcnrJ Pffi-liLL- A 

a SBC Bann Prt-NLGB 
i SK Bond Ptfl.a Ell A 
j IBC Bald PW-*EUB 
a SBC Bond Pm. FRF A 
a SBC Bong PHLFRF 8 
J S8C3orxrP7ft-ITLA 
3 SBC Bond PW-'TLB 
; SBC Bond Prt- ESP A 
a SBC Bora Pm- ESP B 
a SBCBoraPlfKrBPa 
ft SBC Bcra P.TVvBP B . 
i seceoraPort'Dao-tH'-A 
-: SBC Bora Pornote-CHF B 
ft SBC Bora ftn-usD a 
ft SBC fora Plfl-USD B 
ft SBC Bora pir-jPy A 
V- SBC Bara fTB-JPY B 
r SBC ee un Am MM i . 
a SBC Moron Mki Fd • AUD 

a SBC Mora, Mil FO- BEF 

ft SK -Moray <Wkl Ffl ■ CAD 
r 5BCMjni4MKiFoDEM 
a SBC V4HKT Mil Pd - NLC- 
fl 5BC7/«rayA5k1Fd - SEU 
j SBC Money MU Fc ■ PTE 

j SBC Vane, MM Fd • PDF 

a 5BC Money Mu Fd ■ |TL 
a SK »’««•*' MU Fo- ESP 
a SBC Mine* MM Fd- ATS 
fl 5SC Alatiey MM fo • GBP 
fl SBC Money MM Ffl - CHF 
a 59C Money MM Fd • USD I 


B - Funo 
E • Fima 
J -Fund 
M - Fund 

UBZ Euro-lnwmo Fund 
UBf World manna Fund 
UB7 Cato Fima 
UQZ NDoan Conw-rt __ 
A?.ifl itm'rlh Comgrt SreR 
Aim Gnrfltn Camwl USS 
UBft OM ■ Band Fund 
UB2 □ - Fund 
UBZ Intel Equity Fund 

UBI 4i«tia>n.Ea Fimo 
UBZ S ■ Bond Fund 
UBZ SduineastAitoM 
US Value Granin Fa 
UBZ Diy^TiflDa sirgm A 
UBZ DHrenUtad SlrqiesB 


SF 

I 

Etu 


SF 

DM* 

°SF 


IJJB 18 
1132 Si 
324 05 
1771 72 
12J0 
«*e 
90*5 

111*44 

1 25 *9 
1*854 
214 6* 
jC4<- 
1084! 
10036 

.f»S 

IJI2J4 


■ertlrmon: 

Jtera'Fdl 

ret L*tn St* 

« fA*atdd 

re MtlAl 

Mnrw.4 Invmofprtfll L'd 
V-ojVTCanS HudoePd 

.. Motl<rrt*orr> CrtftfltW. b b 

rr V-cGtolhte Glotial iVflvJlr 
m I.5JM IntimaiionM Ud 
fl ML Prlnaa PH7X Plat 
,t .M*hi Jrarw Funa: Parr* 
ft , r.tocrc **01 imt A 

- .Moot Cteotol tovt B 
n r-ucnc-roMiirtiTO 

re Nomina Lereroaed Hid 

a NevMWDMWitir.iqft. 

- 

■ NiCilorDiic' ',«W .ufi 
-»1 NilK'l 

n . . . 

m Q I V. Funr 

-> Onteac Ove 

- rjn^ftrTihC Fa 
PAN imemoironai Ltd 

.-. Ponrurti tn: 
r Pono 3 Fund Pic 
m PonooM Puna Lts 

- Peowr Enemy Grt* rulnc 

r Pi dual nn F mo 

" F-T.-rt Tj-Tr-.3'6)1 ;"'-.hfttr 

- Purrui vcflifft Lid 

1 Pr ft rros.-.hL.'rh 

- PnjMti* Fai-r iht 

r Ph.rrt'.'J trim • 


: U.-*erDoid ! 

ft Prmrorjjmli MremnMe Cant 

- PftOCJ llj.ro Fl-B3 L*J 

ft Soaa- Funt It L'ft *Vtr3) 

.. Sanyo -to Sc-r-h P 1 
o Sanwn-c-j Hiiond N y 
ft SC Fitiatm ..31 5.1 ua 
fl 50 Teel 5A Lu'imbaua 

- s-rtr ft- 3 s:roti--.« •- r.'oi 30 
.- SG<* -'.w S- ro ■hi 

c S-ftft Art to C rro-.u. 5 
Sifhiijir ;tr :-y Fa 
r SiftMi* I--, f i-nd 
-• Slhilftl' -rrotaU Fu:-2 L:3 
.— Siitu- uttun f-.-io 
e -0 ‘-FjcImtD 
c- Sm-tn Sjm r tT.ns- ft in. E, 
v ' mm bcrrui i'.'ii o*a jf*r E 
rot Si-n-c Ti-rnnfliKi OHunro 
m SDmt MMJC Hie 
m Sptnt i-iafrofl.ro- reifl 
re 5 lfl»- j I 3/rwniart 
ft Stral Mrqfrnsairo in. Fd 
ro StroP-on; 'Sux-rtunilu-6 

- Stmtegcrt BBJftn..j 

- S'nOii Fyrofl 

T Stnjmi- Hro jo: 24 Llmilid 
-■ Sttr/nr CteTorflitp 
• irenvci GiaBoMli L'd 
? Sunjel -SioDei C-n-.- 
!*))«■ McGorr 
m Sr-irm C-liKil Fura 
r TflOWO C-rr.- tn runo 
3 Temcievjr'Sicoalin: 
rro Thr Brapi- Fft ut N V 


Tne JDdvar Fund '• . 
Tnro-rfl'A-F-*- Fd *Kjn A 
Tne MGP Fund Li-raieO 

Tne r.tnnmji f-j ud 
Tne F ra sauftrr- Ditc 8 

Tnt Smon Ben J ua 


Trjwi 

! 'Ai 


m Tiaer Sair-: Hell NV Elj 
r Til; rOJI) JSC Fj lrjs\ 
-- It B fc-ne r flrtfCiliO 


173 UNION BANCAIRE ASSET MGT ni BA M3 
INTERNATIONAL, NASSAU „ .. 

> AWrmte) S 

re Fraoamajl I 

re Arqinttot ’• 

to BrtJIlrtaAl i 

h ChIHmynt S 

re Dlnanl J 

ro rvtretel GoMiMrtBB S 

re DtmeJ India s 

fl HanuivfcJ S 

a- Jogltx^'i 4 

» 8 infrnvou S 

0* Mgrifaivn-el + 

re MnurtmuJ _ 5 

re MovilnvrS S™ 

«■ Ouanratynl 5 


.GUARANTEE DIC 
nidimresr OtsBiCHF) 


369253: 

985.121 

iBai.0T; 

Tjaao: 

»06.St>! 
SUM 
Ka-rj: 
1044 4*: 

?'GJ5l2 
549*. SB; 
J47 7J6J 
4*7182: 
133556 


Tny.’inar Emq ; 

Dce-t'MnvJl 
c* TiD-naacitM: runa 
s Trenoieji: irti Funs ua • 

ft. Tttnrr* Fulftitv Fd Lla i 

Tm-mph t S 

ro T'.:-r>nrj-F>r7 iiP'tttw C 5 i 

IJIV-C-IPI Fi iviTflrttelnJA' OF 

i- uik-v)» St’Rt.'ftijaii if 

r unl-C-iM S': US. ’-'a- 3 dii *. 

u L'n-GleOol Sasay MM DA’- 

r UrtFuMtai Sicn* E:v Ecu 

.- Ur6-GUOoi Starr Fpf FF 

, Ury-C4oqj' Stfd* Fs SF 

ro UM-Ckteai S^O'. U 3D ! 

a- uncus mri L'o _ » 

m U'ftfnanne Ecu 

i- vaiomw 5«c. FF 

■» t>* Buivtus Fi-na s 

. il*(PlutiacjfcdrtPlii.ftnr» *" PF 

ft vai Purm.ro.roti Ph-niai ** FF 

.- VEifigw mveSJiw-iiu Pi: 3 

' '. ullu'e Lid * 

t v*oim Vvitac r mil F-* « 

: Vim jfctci Falri Ea Ftq *. Ecu 
fl Krln Glow Ffl Ft! BO Wl 7 Ecu 
-- Win jisent Fs uu C-i> Pm i Ecu 
-• -.'.•in Gioani F-3 ini C-i* PHI T E-:-.- 
fl ftm Gutdi Fa mi Ea. Fifl A Ed- 
a '.‘.'in *4ot>ai Pit :m eq Prt T Ecu 
V.o*i3 BaloniMl Fund SjL : 
.- C.ftrJ JmrrJ Curt ■ A1 oil;-) i 

- .Vftrtc moe Umk-a ; 

ft .'.Pi.- FOTOrf I'.'rolM! C SCO'. S 

- *:'jra CF 

- Z ■ww.n L owipftr? .ff*«,l3 S 

- Z-r«Db.'a*tra I'll 1 Lla i 


: ns.-*:* 

! 101 u 

Id! -J2 
14015 
i ltgr*;; 

i 22by.ii 
j*:- n 

5*35; 
41 1 00 
14910.1 1 
X' 36 
, 753: 

Ii5d 
1<*LSS 
’431 0300 
, 92Q55E 
7-3-3 91 
llff 8t- 
*90 
t.’W 
I07«J7E 
98 02 
SR- 
toct -» 
1*>0.' 

27141 00 

IttelVi 

U2S519 
142‘ 75 
195*9 66 
120- *3 
Ut*«« 
itt' :-9 
1 535 "6 
159*1’ 
82 ?9 42 
:3<6W 
IJTJ* 

l-rojcai 

173 80 


15’: 
1*087" 
S«H *5 

648 m 

n*-i 

2» 24 
24355 
181-51 


CAP) _ 

■ Gitamidimwsr SjsBiCHft C ( 26112*' 

• OiamnvntaP ftjSOVE W P S 733*4 14 

■ G iu5 Tcaouo Baiuii A 3 20964 t s 

n i- iHonfl KcnfllCJwin) A S 248753* 

1 ra UNION BANCAIRE ASSET UCT (UBAM) 
IHIERNATIDHA1, HAMILTON 

* DtireiSt Asia S f IW6.752 

A LAiom Iran VreioiM USS s 548* 11 

■ Rusdal E02leniEurt» S 5)1* l“T 

l» UNION BANCAIRE ASSET MET (UBAM) 
INTERNATIONAL LUXEMBOURG 

n UBAM StaFFTemt i j 

Eai 


u 6AM- snort- fwni ear 

UBAA1 Med- T*m S Bona 
UBAM DEM Bond 
UBAM FFF Bqna 
UBAM OBP Bond 
U9AM vrcrta BwwsCHF 
(if AM Emoiflinre Gnwflt 
u & am European Eguirr 


% U F 


IX as 
10:5 a? 

141 i 20 
71WJ* 
I221--9 
IW4.I9 
11*9 J*2 
1465.0?: 


AS - Ausiraiiai Daurs: AS - Ausirran SchiSings. 
BF - Belgian Francs. CS- Canadian Ddbn:DM- 
Dwincne Ujrte: oak -Osm* Kroner Do ■ US 
P0IU1S. ECU - Eurapow Curency Unt; FF ■ 
Frendi Furies: FU - FWsit Mart, fl - Didcft 
snonr, IDR - (mUmosun Retail. Ln - taittn in: 
LF - Lusamioura Francs, p-peua. mth - 
Matoysen Mnggh: Puu Pasoln. 5CS - 
SinpGOTO tiolOTi: SF - SwH Frontt. 54R - 
SnGBtt Kronor. TUB -Thai 9 aM; V • Ytn; 

8 - a;ned - - cmw Pttost NJL - N01 AuBdaotti 
N.C. - Hot CwtHTtartcsM* 0- He*): 5 ■ 
5U3pef)d0(l; S/S ■ SpW) ‘ ■ E*-C*evwi£rTrot]. ” - 
Ea-flts, - § Oiler Rim «ieL 3% ratal, tittigr. 1 
- Ffris etchor.ga: — -Amateriisiaeicuiige: e ■ 
rtBQ'jnUd eartiec t-rai togsltrcd tywh 
rejuiaory SLincinTf P Middie olM ana ottered 
pit-j E: iSiimatfo pna. r Prt'cfl udcuiaiod 2 
days pnor to ruulcanon. end price. 

TIm ntai^nal stiuk-Is indirae liequency ai 
quoiBDons suppiMd idl- datly (n|-n8MtiD)- 
Ui-nDMMr (J) - iwuwmnY- n - wjuuny- it) ■ 
wtes weeuy; m) - morawf. 


Call or 


M.\ 1 • 






NOKIA 

9000 

























PAGE 20 


^ Bcralb^Sribunc 

Sports 






L 

..J. 


World Roundup 


ADen Buys Seahawks 

FOOTBALL The billionaire Paul 
Allen exercised his option to buy tbe 
National Football League’s Seattle 
Seahawks on Monday, fulfilling a 
promise to Washington stare votes 
who approved the Microsoft Ccnp. 
co-founder’s proposed $425 million 
football stadium. 

Officials of Allen’s Football 
Northwest Inc. did not disclose the 
price be was paying but media re- 
ports have put it at about $200 
million. (Reuters) 

Lions Score 10 Tries 

rugby union The British Lions 
scored 10 tries Tuesday in the last 
provincial game of their South Af- 
rican tour, beating Northern Free 
State, 67-39, in Welkom. 

Right wing Tony Underwood 
scored a half hat-trick while fullback 
Tim Sampson crossed twice and 
was successful with eight of 1 1 kicks 
at goaL Northern Free State entered 
into die spirit of a free-flowing game 
and scored four Dries. ( Reuters ) 

Sabres and Nolan Bart 

ice hockey Ted Nolan, Nation- 
al Hockey League coach of die year, 
said that be would not be returning 
to the Buffalo Sabres next season. 

Nolan said new general manager 
Darcy Regier told him Monday that 
the team’s latest contract offer, 
which Nolan had rejected over the 
weekend, was no longer on the 
table. Nolan was out of a job as of 
Tuesday. (AP) 





Ademola Okulaja of Germany 
anguished after loss to Poland. 

Poles Eliminat e Germany 

BASKETBALL Poland beat Ger- 
many, S6-76, Tuesday to eliminate 
the Germans from the European 
Championships in Spain. Germany, 
at the bottom of its second-round 
group, needed to win to have any 
chance of reaching the quarterfinals. 
Dominik Tomczyk led all scorers 
with 20 for Poland, which guar- 
anteed its place in the quarterfinals. 

Greece, leader of the other 
group, squeaked by Israel, 85-82. 
Oded Katash of Israel was die 
game’s top scorer with 29, while 
former U.S. college star Doron 
Shefer hit 21 . (Reuters) 

Ballesteros Jr. Slimes 

golf Baldomero Ballesteros, 
son of Severiano, has just won his 
first tournament — at age 6. 

“It was a competition for 5-to- 
1 0-year-olds and he had 35 points 
over nine holes,” said bis father, 
Europe’s Ryder Cup captain, who 
caddied for his son at the Pedrena 
course in Santander. Spain. 

“He’s started winning well be- 
fore I did!” Ballesteros said. 

“He’s been playing for two 
years, and I’ve never had to teach 
him a thing. He just watches. But 
that is great because 1 want him to 
discover all the things about golf 
himself.” ( Reuters ) 


Boom Boom Leads 
German Triple Threat 


By Ian Thomsen 

haertkiiioml Herald Tribune 


W IMBLEDON, England — Not 
to make too much of Boris 
Becker, but there are three 
Germans in the Wimbledon quarterfi- 
nals, and they are best known as Boris 
Becker’s rival, Boris Becker’s pupil, 
and Boris Becker. 

Becker has been at Wimbledon so 
long he is starting to trip over his own 

WlMBlIPON 

connections. If he can make it through 
his quarterfinal against either No. 1 Pete 
Sampras or No. 16 Petr Korda — their 
fourth-round match was unfinished 
after three delays by rain Tuesday — 
then Becker might find fellow Germans 
waiting for him in the semifinal and 
final. They would be, respectively, Nic- 
olas Kiefer, the 1 9-year-old who is 
knocking out seeds with Becker’s help, 
and Michael Stich, the 28 year old 
former Wimbledon champion who has 
promised that this will be his last Grand 
Slam tournament. 

Kiefer, who taros 20 on Saturday, 
upset the No. 3 seed Yevgeny Kafel- 
nikov of Russia, 6-2, 7-5, 2-6, 6-1. “I 
met him a few years ago. when be was 
playing at junior Grand Slams,” Becker 
said. “I was always impressed by his 
hand-eye coordination. He reminds me 
a bit of Andre (Agassi), the way he plays 
on the court.” 

Kafelnikov would have preferred the 
currently-honeymooning Agassi to the 
German who was passing him viciously 
throughout the first two sets on their 
outer court. With his deepest effort — 
he even seemed to groan in a Russian 
accent, committing himself to each 
stroke as if lifting a heavy weight over- 
head — Kafelnikov recovered a set and 
seemed on the verge of overpowering 
die younger German one game into the 
fourth set. That was when Kiefer asked 
for a medical timeouL It took several 
minutes for a physiotherapist to arrive 
running. Without almost any words be- 
tween them he positioned Kiefer on a 
towel on the grass court and nibbed at 
his lower back, turned him one way and 
the other, tagging and leaning on each 
leg, and finally exposing Kiefer's right, 
buttock — an outrageous flouling of 
protocol! half moon at Wimbledon! He 
robbed ointment on the right hip. 

After all of that Kiefer immediately 
broke Kafelnikov. 

Kiefer was up a break and 3-1 in the 
fourth set when the second suspension 
of the day was called because of rain. By 
that time, next door in the Centre Court 


Stadium, No. 8 Becker was having an 
easy time with the left-handed No. 9 
Maicfelo Rios of Chile, who would fall 
aside by 6-2, 6-2, 7-6 (7-5). After the 
last bout of rain the smaller Rios stub- 
bornly matched Becker stride for stride 
into the tiebreaker. Rios, like Becker’s 
German student, is a clay-stained 
baseliner, but on the decisive point he 
volleyed twice from his weak right side 
and once with the forehand diving, and 
then Becker hit a forehand into the open 
court much more firmly than necessary, 
out of fear that Rios would recover and 
run that down too. The crowd had just 
seen Boom Boom at his best — and just 
as importantly tbe fast ending meant 
that their own No. 14 Tim Henman 
would have time to at least begin his 
fourth-round match with the defending 
champion. No. 4 Richard Krajicek. 

‘ Henman and Krajicek split the open- 
ing sets in identical 9-7 tiebreakers — the 
first to the British host, the second to the 
Dutchman, who was occasionally 
bothered by the raucous crowd. The third 
set tiebreaker went to Henman 7-5 before 
play ended because of darkness. Sampras 
was leading Korda 6-4, 4-2 at tbe time. 

As Becker raised a fist and then a pair 
of thumbs to his admirers, his thick 
applause was drifting over to Kiefer’s 
match tike a smoke signal. Within mo- 
ments the other German had responded 
by finishing off Kafelnikov, who didn’t 
win a game after the restart 
“It's funny to have a pupil in the 
quarterfinal too,” said Becker, 29. When 
be was Kiefer’s age, Becker already had 
two Wimbledon titles. Kiefer, however, 
has the chance to do something Becker 
didn’t do — win his Wimbledon debut 
Last year Becker’s German sponsor, 
Mercedes, put together a “team” of 
German juniors to develop the next 
Becker. There have been fears that the 
sport will die in Germany after the im- 
minent retirements of Becker and Steffi 
Graf. It is a problem for all of European 
professional tennis, which revolves 
around the dominant German market 
The manager of the team to find the next 
Becker is, of course, Becker. 

‘ T talk to him before matches, and he • 
goes out and beats the whole world,” 
Becker joked, a tittle proudly, of Kiefer, 
who had upset No. 1 3 Andrei Medvedev 
of the Ukraine in the preceding round. 
“You know, I just hope that he stays on 
tire ground for another couple of days, 
and plays as he should play.” 

waiting on the bottom half of tbe 
draw, almost unnoticed, has been Stich, 
who has complained of being forgotten 
in the shadow of Becker. Stich. who 
beat Becker in the 1991 Wimbledon 
final, says he will retire this year be- 



Iki|iic* DaniiAi^ApiM InmoPknv 

Greg Rusedski, an unseeded Briton, playing a shot to Richie Reneberg ' 
of the United States on Tuesday. Rusedski won 7-6 (7-2), 6-4, 7-6 (7-4). 


cause of shoulder problems. The only 
seed left in his bracket will be his next 
opponent, either Krajicek or Henman; 
the biggest threat might be Greg Rused- 
ski. the big-serving Briton who beat the 
American Richey Reneberg, 7-6 (7-2), 
6-4, 7-6 (7-4). 

“I didn't come here relaxed,” Stich. 


who beat Mark Woodforde of Australia, 
6-4, 6-7 (3-7), 6-3, 7-5. ‘*1 expected 
myself to do well and to play well. I 
would rather win the tournament and 
say that's it, that’s the best way to finish 
it, but it has nothing to do with me 
retiring after this. I won this tournament 
once before and that was no accident.” 



‘ TfcV ', 


The Associated Press ... 

WIMBLEDON. England —Martina v 
Hingis, the women's No. l.secd^ re- * 
mained on course to become the yqung- , 

est singles champion this cennirj ( by - .: _ 
beating Sabine Appeimans of Belgian, ., - 
6- 1, 6-3, on Tuesday." 4;, .' - , 

So did another 16-year-old, Aqna^ 
Koumikova, an unseeded Russian, who ‘ ~ 
overcame Helena Sukova, 2-6, 6-2, 6-3. . - 
Sukova, twice Kouraikova’s age at 32,.' ■ 
double-faulted on match point ' > 

Jana Novotna, the No. 3^eed, reached. j- 
thetptetefinakforthesixtiitimeinber - y . 
career by beating' Mary Joe Fernandez'/ .. 

— the last American woman in the draw ' 

— 5-7, 6-4, 7-5. Fernanda, the No. U 

seed, disputed several line calls in che> ./ 
final set V. - - 

Arantxa Sanchez Vicario of Spain, , • ■" 
the No. 8 seed, cruised into the - 
quarterfinals with a 6-1 , 6*3 victory over 
No. 9 Mary Pierce of France, .« . 

In other women’s fourth-round'- . 
matches, Yayuk Basuki beat Patrick-. 
Hy-Boulais, 6-0, 7-6 (7-2); Denisa' * 
Ghaldkova topped Maria Alexandra. 
Vento, 6-1, 6-3; Nathalie Tauziat out- ^ • 
lasted Sandrine Tested, 4-6. 7-5, 12-10, 
and IvaMajoli, the No. 4 sebd, beat Irina 1 - : . 
Spirlea, No. 12, 6-7, (8-10); .6-1, 9-7. : . 

Meanwhile, Hingis needed just 66 . 
minutes to complete a victory that earned 
just before play was suspended by rain , 
for the first time in fom days.- Hingis 4 
remains in position to set a* record fori . 
youth this century at Wimbledon. The - - 
youngest singles champ vyas Charlotte W 
(Lottie) Dod, who won at P§ years, 285 *• * 
days in 1887. '.y V . 

* ‘Nobody saw me as a favorite at the / 
beginning -of the’ tournament,” Hingis r ’ 
said. “I got through pretty easily until . 
now. I’m improving every match. I feel - 
pretty good.*’ 

The Swiss teenager sailed through the / 
first set in 27 minutes. Appeimans went ” . 
up a break at 2-0 ,in .toe second, but . 
Hingis took 'command again when she . 
broke for 4-3. Two games later, Hingis " ' 
broke Appeimans again to close out the • 
matc h. Despite a swinging serve by ' 
Appeimans mat pulled her off the court, 
Hingis stretched to hit a sliced backhand 
return that just dropped over tbe net for 
a winner. 

“I got pretty lucky there,’'’: Hingis • : 
said. “I had almost na cbance. I barely 
got to the ball.” 

“She’s just a little. better than most of 
us,” Appeimans said. 


An Opportunist Earns Himself a Bafana Boy Opportunity 


International Herald Tribune 

JOHANNESBURG — In soccer, as 
in life, victory comes to those who rec- 
ognize and use opportunities. And as 
South Africa prepares to reach tbe 
World Cup — for which its team must 
avoid defeat against Congo in the final 
qualifying match in Johannesburg on 
Aug. 17 — one real opportunist will be 
in the massive audience. 

Pierre Issa, an emerging central de- 
fender with OJympique Marseille, wants 
tobea “Bafana Boy,” aplayer for South 
Africa’s national squad. He wants to play 
for South Africa so badly that he hunted 
down a young woman be believed could 
be his ticket to future glory. 

This, however, is no tale of another 
athlete seeking a marriage of conveni- 
ence. 

Pierre Issa was bom in South Africa, 
christened Peter, and changed his first 
name when the family settled in France 
when he was five. 

Now 2 1 , tall and slender and blooded 
in the French first division with some 15 
appearances, be remembers bis roots 


World Soccer / Rob Hughes 


and hopes to turn a holiday in his home- 
land into a passport to permanent re- 
conciliation there. 

South Africa is going to try him out 
and he talks of instant elevation to the 
team that is on a vengeance mission 
following a 2-0 loss against Congo at 
Pointe Noire in the Republic of Congo 
last April. A tie would be enough to 
ensure that South Africa wins the 
group. 

The newcomer knocking is unlikely 
to shift either Neil Tovey, the veteran 
defender, or Mark Fish, the powerful 
and spirited center back who last year 
joined Lazio of Rome. 

They are men who proved their mettle 
when South Africa won the African Cup 
of Nations 18 months ago. Coach Clive 
Barker, himself an opportunist, trusts 
those who have done well for him be- 
fore. 

Nevertheless, Barker errs on the side 
of tenacity and sometimes selects an 


excess of defenders. His skipper, Lucas 
Radebe of Leeds United, is another cen- 
tral defender willing to attach himself 
closer than a raincoat to an opponent. 

The redoubtable Doctor Khu- 
malodoes that job. wrapping himself 
around creative players to stifle tbeir 
flair. Eric Tinkler, who plays with 
Cagliari on the island of Sardinia, gives 
the side fast tempo. 

They are Nations Cup winners, ail. 

Yet there is a place in Barker’s 
scheme for new blood, the most dashing 
of which comes from a left winger 
known as The Midnight Express. 

This player, alias Hetman Mkhalele, 
shot a 25-meter (27-yard) goal in South 
Africa’s 3-0 victory over Zambia in 
Johannesburg's FNB Stadium last 
month. He also darted and danced when 
South Africa lost the Nelson Mandela 
Challenge match. 2-0, to a half-strength 
Netherlands side in the same site. 

The South African soccer team gels in- 


spirit and a unity that the nation itself 
might embrace. Here it matters not if you 
are black, white or brown, but how you 
play the Barker game. 

The time is ripe for another Bafana 
Bafana message — namely that this 
“new” Rainbow country has to ac- 
celerate die pace of integration to con- 
tinue winning now that the initial Man- 
dela affect has worn a little. 

During the last month, the rugby 
Springboks, world champion in 1995, 
have regressed to lily white again. With- 
out a non-white player, they are being 
mauled by the touring Lions of Britain 
and Ireland. 

South Africa's cricket has lost im- 
petus and bickers about the way for- 
ward. 

With all this, the drum beats loudest 
and longest for soccer, the sport that 
defied apartheid and ignored the color 
of players’ skins through the worst de- 
cades. The fathers of that game were 
brave, persistent and opportunist souls 
who stood tbeir ground under oppres- 
sion and threat. 


Pierre, or Peter, Issa had parents able 
and willing to create a better tifefor him 
abroad. Now he is back,' a. citizen of 
France but eager as a springbok to jump 
into the World Cup campaign. 

Barker will be tbe judge of that. But if 
opportunism holds the key, Issa has it in 
abundance. The story goes that he was 
chatting with a -Korean girl in Cape 
Town when she mentioned that her* 
“sister” Chariene knew all the Bafana ’ 
Ba fana. 

After she left, Issa realized that this 
might be his chance. He raced around, 
asking every Asian girl he could find if 
she was Chariene. Nothing doing, he 
eventually was led to Charlene Weber, a 
blonde South African whose “sister” 
turned out to be a trendy friend. 

Charlene worked at the soccer camp 
and took Issa, with his scrapbook and 
video tape, to a session. 

“Got boots?” Barker asked. “Then 
its (raining at nine in the morning.” 

That’s opportunism. - ! 

Rob Hughes is on the stag of The • 
Times of London 


Scoreboard 


BASEBALL 


Major League St anpinos 

UUHONUMdl 

EAffTOmaoH 



W 

L 

PcL 

GB 

Batliwore 

51 

27 

654 



New York 

46 

33 

.582 

5V4 

Toronto 

37 

40 

-481 

m 

Detrofl 

36 

42 

-462 

15 

Boston 

36 

44 

450 

16 

ceicibal onnsroN 



Cleveland 

40 

35 

-533 



Oucopo 

40 

39 

-506 

2 

MBwaukee 

37 

40 

.481 

4 

Kanos Gty 

36 

41 

-468 

5 

Mlnrmohj 

35 

44 

M3 

7 


WEST DIVISION 













Anahean 

41 

39 

513 

SVr 

Texas 

39 

40 

.474 

7 

OaMand 

34 

49 

m 

14 

MxnofUU. UAOOI 



EASTDIVISKM 




W 

L 

Pet 

GB 

Attonta 

52 

29 

642 

— 

Rorftto 

46 

32 

riM 

3 Vi 

Now Yak 

45 

35 

563 

6M 

Montred 

45 

35 

563 

6ta 

PtiBodolphta 

23 

56 

391 

28 

CENTRAL DIViSlOH 



Huustw 

40 

42 

-488 



St Louis 

39 

41 

483 



Pittsburgh 

37 

43 

.463 

2 

Ondretatt 

34 

46 

425 

5 

CMcaga 

32 

49 

-395 

7% 


west owstoh 



San Francbco 47 

34 

580 



Colorado 

43 

39 

524 

4V4 

LosAngrtes 

39 

42 

.481 

8 

Smi Diego 

36 

45 

Mi 

11 

MonuriLMHceiD 


Kansas City 

Oil 810 310-7 

11 1 

Oeeagom 

101 008 15k— 8 

17 0 


Belcher, Pichardo (81, Bones (8), Caston 
(O Old Modarfanec TradneL ft Tolls (7}. 
Bottenflefd (7), Rsdatta (8], Patterson (9), 
Solas £91 and Sams. W-PbcttfO, 1-0. 
L— Bones 0-1. Sv— Rsjos (fl. HRs— Kansas 
aty. KfH0 05), Dye a. Oucog& VaGtbcc 

®).d. ckhhcb. 

Montreal no Mi ooo -2 6 o 

Toronto M0 ON ISfr-f 3 0 

PJ JMartfaez and Winger Hnntgen and B. 
Santiago. W — PJ-Molinez, 10-3. 


L— Hentgen. B-5. HRs — Montreal V. 
Guerrero (4). Toronto CDelgado US). 

New York (N) M0 ON MO— « 5 0 

Detran ZM m m— u is a 

WLCtarta Crawtord (6), Kashhvadu (8) and 
Handler. ACastfflo (8); Ju.Thompsoo 
BouRsta (9} and Casanova. 
W— Ju.Thompsoo 8-ft L— M. aorta 6-5. 
HRs-Oehrtt Hlgginson 3 (72), O. Miller 
(2), Casanova O), Easley Ol). 

Ftart*r 300 200 HO — B 9 0 

Boston 030 007 007—5 7 4 

Aj=entandez, F. Heredia (8), Men (9) and 
C. Johnson; Wakefield. Hudson (7) and 
Hatfeberg-W— A.FenKmda£9-ftL— Woke- 
ftekLS-OXRs— S.S«nley (ffl, OLewy (Q, 
Chicago (A) 100 000 000-1 3 3 

PHirtondi oie ioi eas-3 9 0 

DDarnriii Sima tffl and Fabregos 
Ueber and Kendal W-Uebet 5ft L~D. 
Dorwfn, 2-ftHRs— Pittsburgh, K. Young <«, 

Swum 15). 

Atarta 000 000 KM 0-0 (I 
New York (A) 000 000 000 1—1 12 0 
dovnw, Btefedu (10) and J. Lopec 
Petfflte KnJZogws (6), Station (10) and 
Girona W— Stanton, ML L-Bie»eckt 34. 
Mfawuta gig on 000-1 11 0 

St Loots 0)1 MR Ota— 2 6 0 

Robertson Trembler til ond Stdnboctv 
M*rta TJJWdlhews (8), Edcersier (9) ond 
Ijonpton. W— Monti 6< L-Robertson, 7- 

6. Sv— Ecksnler (TO. HR — Minnesota, 
Becker (51. 

Wtodefjtto 000 180 000-1 S 0 

Bantam* 006 000 2*1-0 8 0 

Modont R. Harris (7). Gomes O) and 
UebentK* Mussina, Oresco (91 and 
Webstar. W-Mussln» 10-1 L-Madunv3- 

7. HR— BoiOmore, C Ripken nil. 

Owetagd 000 Ml 212-5 9 1 

Houston 010 000 no-4 8 0 

Nagy. Manmm (0. Mesa (8), M. Jatfcson 

(?) and Border*,- KBe, Hudek (8), Marita (© 
and Eusebio, Ausmus (8). W— Mesa 1-4. 
L— Martin, M. Sv — M. Jackson (91. 
HRs-Cleittlaita, Ma.WUkuns 09). CRes 
(8), SeHzer (7). 

MBwaofen 111 800 000-3 9 1 

anSnah 820 001 iax-4 9 a 

E»wt Adamson (9, Feftm (7) and 
Malheur; Mfttker. SoUhran (BL Remtarar 
(8L Shaw (9) and J. Other. W—Merdyer,6-5. 

S*— Show Cl 6). 

HRs— Milwaukee, Loretta (4). GeWiMams 
(7). Cirtdrrtati, J. Oflwr (51. 


Texas 000 011 007—3 9 0 

Los Angeles 000 001 007—2 C 0 

Wilt Wertetand (9) and I. Rodrigues 
I .Valdes, Radinsky (V), Osuna (9) and 
Piazza, w-wtt 9-4. L-i. Valdes, 4-9. 
Svr— Weffdnnd 07). HR-Tews, Wifi (7). 
Los Angeles Piazza (l«. Mondesi (15). 
ABriwfcn 204 000 081-7 14 2 

Colorado 258 100 20*— II 16 1 

Cress. Perisho (3), James (7). Hosegowo 
(8) and Leyilte Hotaws, Dtpoio (3), OeJeon 
(6), M_ Munoz (7). S. Reed (Bj, Leskanic (9 
and Manwmtag. W—DIpirta 2-1. L— Gross 
1-1. HRs — Anaheim, E dmo nd s (73), 
ColomdaL Waiter £25), Gotarrego (22). 
Son Diego 070 422 000—13 79 2 

OrAttad 003 OH «lft-4 I 1 

Ashby, Cunnone (8) and Flaherty; 
Wengeit D. Johnson (4). Groom (5). C 
Royes (7) and Go. WBfioms. W— Ashby, M 
L— Wengert, 3-7. HRs— San Diego. Gwynn 
<731, G. Vaughn (9). CrJones (5). 

San Francisco 020 102 010 3-8 14 0 
Seattle 100 004 001 i-t 13 0 
Fmdte Tawrez (6), Bede (9), Poole flW, 
D. Henry and BenyWili Wotajft 
McCarthy (7). S. Sondere (8). Chariton 19). 
Ayala 00) and Momma DaWfison (9). 
W-Bocta 4-2 L— Chwttorv 2-5. Sv— 0. 
Henry (2). HRs— San Frendsca. Kent <!«. 
Snow (9L MLewfe («. Seaffie. A. Rodriguez 
OIL £. Martinez (13), Sorrento (15). 

UUUCWIUOUI 

Munawnw 
Frist Balaam: ), Tina Martinez. New 
Yafc B&722 2 Jim Thoma Oewtond 
847,416. 3, Frank Thomas, Oikzm 
8)7,008. 

Second Boones: ). Roberto AtanavBd- 
fimore. l,657«4l& 2 Chuck Kncbtoodi Min- 
nesota. 9?a 774. 3, Joey Cara Seettfe 
766495. 

ThHtaemnr. 1,Cd<UgteaBoffimi>ra 
2577.985, 1 Mat! WflBara, Cleveland. 
1,226,778. & Wade Boggs New York. 
455757. . 

Shortstops: 1, Alex Rodriguez, Seattle, 

1 -854758. 2 Omar VbqueL Oevetand, 
954822 5 Derek Jeter, New Yurta 7956)9. 

OtiWoMe**; 1, Km Griffey, Jr, Seattle, 
251430. 2 David Jratfca Oevetand. 
1,840,716. % Brady Anderson. BaKlmcre, 


1,797,6)7. 4 Juan GoruaJe& Trans. 869,235. 
5. Marquis Grissom, Ovetand. BS4364. & 
Manny Roroirea Cfevefod. 801 JOS. 7. Jay 
Burner, Seattle, 772972- & Albert Belle, 
CMcngo. 6611079. 9, Bern* Will taro. New 
Yorta 584380. la Eric Davta Bofltarare, 
432466. 

Catchers: I, Iran Rodriguez, Texas. 

1,664384 2 Sondy Ataowc Clevetaid. 
1J57431. 1 Don WBson Seattle, 57U36. 

Designated Hitters: 1, Edgar Martinez, 
Seattle, 1,211429. 2 Juflo Franca Oevetand 
897,505. 3, Cedi Retaen New Yalta 78L617. 

AMERICAN LEAGUE LEADERS 

G AS R H Aug. 
FTTwownChW 66 236 54 89 J77 

SAtamarOe 60 223 38 83 J72 

] Rodriguez To 76 31 B 50 110 246 

EMartiWZSefl B1 295 58 101 2C 

Ramirez Oe 67 242 38 81 J35 

MVnrghnBas 65 239 49 80 J35 

Justice ae 63 218 44 73 335 

Greer Tm 78 293 54 98 J34 

WOorkTo 67 246 34 32 233 

Care Sea , 75 284 53 94 331 
RUNS— Griffey Jd Seattle, 65s Knobtoudi 
Mtonesata, 67; 6. Marttna, Seattle, Si 
Gordaparra, Boston, 5& ToCIorta DebnlL S; 
A. Rodriguez, Seattta 5& T. Marttnez, New 
Yorta 55. 

RB)— Griffey Jr 5eoffie, 7% T. Morinezi 
New Yart. 76f Toaaita Ddred, 7& B ale. 
Qilcoga M; McGwire. OaUand 6) E. 
Mdrtincz, SeaMft 61/ Buhner, Seattle, 61. 

HITS— t. Rodriguez, Taa, lift E. 
Martinez. Seattle, 701: G. Andurea 
AnaheBn 9ft Greet, Tens. 9ft Gataopana 
Boston 9ft T. Martinez, New Yorta 9 ft Cara 
Seattle, 94. 

DOUBLES— 0. ‘Nefll Nwr Y«fc 2ft Orfla 
MOwoukea 25/ Sprague, Teranta 2S; Cara 
Seatfia 2ft I. Rodriguez, Tens. Ui A. 
Rodrigue* Seattle, 2ft Greer, Tana 21 
TRIPLES— Jeter, Nor Ybri, & 

Gactaftana Beaton ft Offerman Kansas 
CBy. ft Vfcqvei Oevetanl fs 8 me lied wflti 
4 

HOME RUNS— Griffey Jr. Seaflta 29? 
McGwha OaWcmd. 29; T. Maittnez, New 
Yorta 2ft Hum Oevetand 22 j BvtaKS 
Seattle. 21: T. oOarta Drtroft 2ft M. Vaughn 
Boston 20. 

STOLEN BASES-B. LH Wrier, Data* » 
8ftion Toronto, 34 Knoblauch Mlmraata, 
3 2s T. Goodwin, Kcmsas Cty, 31; Ylzquel, 


Oevetand, 2ft Purtrarn Chicago. 19; Eastoy, 
Detroit 17. 

PITCHING OB Decision) — C femora. 
Toren-ta 12-2 .857, 17ft R. aJolwson 
Seattle, 11-2 246. 2.1 ft Mimtaa Botfimore, 
10-2 £3X 32* Erickson BaHmore. 10ft 
.769, 359; Key, BaBImore, 11-4 .731 264- 
Fossora Seattle, 8-2 .727. 3 Aft Cone, New 
Yorta 8-1 .727. 2^2 

STRIKEOUTS — RaJahnsan Seattle, 164 
Com New Yorta 151 demons, Toronto, 122 
Munkia Batthwm 1 0ft Appte Kansas CBy, 
104 a McDonald MHwoukee, 95, Hentgen 
Toronto. 93. 

SAVES-M. Riven, Nan Yalta 2ft 
RnMyera Bcrittmota 2ft R. Hemondet 
Chicaga 1ft DoJanes, MBwaukee, lft 
Wettatand Tanas. 17; Toytor, DaMond 1& 
AgaBera Minnesota 15. 

NATIONAL LEAGUE LEADERS 

G AB R H Avg. 
L Walker Col 79 292 79 1)9 JOB 

GwytwSO 76 306 S3 120 3Ti 

Piazza LA 77 274 49 100 J65 

B looser Alt 79 259 S3 90 J47 

Lofton Af! 67 285 50 98 344 

Joyner SD 65 228 34 77 538 

GoWragoCot 78 308 66 103 J34 

LankterdSK. 61 220 45 72 23 

OtertidNYM 77 283 SS 91 -327 

MaGraceChC 72 264 42 84 JIB 

RUNS — L WdtkA Coteredo. 7ft Blggfa 

Houston 6ft Gataraga Cokwtoa 6ft Bands. 
Sat Frandsca SB: EcYcxma Cotorada 57; 
Bagwell Houston SSi Otetud New Yalta 55; 
Burks. Cotoroda 55. 

RBI— GtAangga Celoreda 84 BagwelL 
Houston 72 L Wottar, Cotorada 6ft Gwynn 
San Diega 67; Atoa Ftorid* 64 BWietfc 
CojorOdn 64 OtJonea Aftanta 62. 

HITS— Gwynn San Diega 170; L Walter, 
Cotorada, lift Gotairaga Cotorada 103; 
Blggta, Houston 101; Piazza Los Angeles. 
10ft Lofton Altarria 9ft Ecraung. Cotorada 
97. 

DOUBLES— Giudzlelaneta Msittreal 2ft 
Bagweft Houston 3ft Morandtol 
Phltodeiphla 2ft L Walker, Cotorada 2ft 
B regno, PhfladetpMa 24 Bonitta Ftorida 24 
Laieton Montreal 22 Snow. Sari FfWKrHa 
21 Ctotton SL lAUta. 21 Qtervd New Yorta 
23. 

TRIPLES— W. Guenon Las Angdea ft 
Da Shtottb. SI. Loaiaft Randa Pfttsburgta 7; 
Wbmocta PBtsburah, ft D. Sontan 
Gndnnoa ft TueXet Atlanta ft EcYowg, 


Cotartido. 5. 

NOME RUNS — L Wtriker, Cotorada 2ft 
Bagweta Houston 22 Gotonaga Cotorada 
22 Castffla Cotorada 2ft Hundley, New Yorta 
19s Bonds, Son Frandsav 1ft Buri& 
Cotorada 17. 

STOLEN BASES-D. Sanders, Ondnnatt 
3ft Wormxta Pittsburgtv 31; D. eShietite, St. 
Laute 3ft ECYoung. Cotomda 2ft Cbytoa 
St 

Loud lft Lofton Atarta lft McCracken 
Cotorada lft L Walker, Cotorada lft 
PITCHING CIO Doetstoosl-Nwrate. 
AHanta IT-1. JI7. 127; Estes, Son Francteca 
11-2 -84ft 272 Judas Montreal 9-2 £18, 
41 1; P. JMartbiu Montreal 10-1 .769, 1 S* 
& Maddux, AOonta IM, 76ft 25ft B. 
J Jones. New Yorta 12-4 .750. 267; K&. 
Houston M. 750,272 
STRIKEOUTS— SrtiBflna Phnoddotua 
151; P. JMofflnet Mortreol 145fAJBenes, St 
Laud >2ft Noma Los Angelos. I2& K. 
JBrewtv Honda 112 Smofc Atlanta 103; 
KSe, Houston 97. 

SAVES— Becta San Frandsca 2ft Nan 

Ftortda »• JoFnmoa New Yoris, t ft Wdltea 

Attonta 17; Eckersley, St. Lovia 17; Shaw, 
Oftonridfir lft ToWorrea Los Aitgetea 16. 

Japanese Leagues 


BASKETBALL ■ RUGBY UNION 


okiimiuon 



W 

L 

T 

Pet 

-GB 

Yakut! 

44 

23 

0 

557 



Hiroshima 

34 

31 

0 

523 

9 

Hanshto 

34 

34 

a 

500 

low 

Chintidil 

30 

36 

.0 

•455 

13H 

Yokohama 

28 

35 

0 

Mi 

14 

Yomlurf 

28 39 0 

MOHCIIMIII 

.418 

16 


w 

L 

T 

Pet 

.GB 

Ora 

36 

22 

\ 

521 



SeSw 

35 

28 

2 

556 


DaM 

37 

32 

0 

536 

4ta 

Nippon Ham 33 

35 

0 

48S 

8 

Lotte 

76 

37 

2 

413 

I2U 

Kbfetau 

26 

39 

1 

40Q 

in 

lumvrs hwim 

CENTRAL LEAGUE 
Yakut! 2 Yomluri 2 
Yokohama l, ChuntettlO 
Hanshin 2 Hiroshima 2 



European championship 

SECCHra ROUND 
QROUP E, WOCRONA 
Greaae 80. Fiance 71 
Uthnonia 93 Turkey OS 
Greece 8ft Israel 82 

STANOmoSc Gnrecp 6 victories; Russia 4 

JJttwonlo 4 Turkey 2 Isniel 2 France 1. 

anaup f.w badalona 
Spain 104 Patand 61 
Yugoslavia 64 Croatia 62 
Poland 8 ft Germany 76 

sTANDutas: ItahrSvktailevSpalnftYu- 
gogloyta 4 Petarto ft Croafa 1; Geramiy 7. 


wiMiuomnn 

TUESDAY. IN WELKOM, SOUTH AHHCA 
Brtftsh UOfts 67. Northern Freo State 39 . 


SOCCER 


•ftnmmoHM 

atUHOHnlH 

GROUP A, M KARLSKROOA. SWEDEN 
France 1, Spain l 
Sweden 2 Rustic 1 

otoopb 

_ ■ W MOSS, NORWAY 

Gwwmyi.tWyi r 

IN LLLESTROBH. NORWAY - 
Denmark a Nofway5 


PACIFIC LEAGUE 
SeBra 5, Ortx3 - 
Date) 4 Nippon Hunt 3 
Latte 11, Kirtteteu 3 


mhmnie tnaxtt KYsa cop 

Stamfings tarl9B7 Ryder Cupra be pi eyed 
Sopc. 26-28 m Vfcldenreaia In Soragmde, 
Sprtn. Top 10 ffqtohere wll quNHy lor 12- 
man Mom. us. captain Tom NteandEu- 

rapaan ctptahi Seve Be8o e tnra e wa eotact 
two ptoyora at targe to c o n ip ie n i each tom: 

UNfTBD STATES 

1. Tom Lehman 101628ft 2 Tiger Wtoods 
1015.000; 1 Mark QMwta 001 15ft 4. Brad 
Fawn Scott Hach 7l 1 94ft ft Tom- 

my Tones 489.285; 7. Phil Mlckataan 65918ft 

Do* Love in 
«ta50ft.l0. Sieve Jones 579180: 11. Jeff 

n“ 9, u!if 6 f aS Bmote ^-750; 

ct L£nnort S 18 - 50 ^ lft Paul 

5*^2!** 5D3J34 '' ,s - Dwd 

4/0.000. 

, „ „ . EUROPE 

1. Conn Maidgomeria Scotland 684041 

2. tan Woosnoft Wales 45U46 

3. Darren Ckuka NJretand 410330 

4. Bernhard Longer, Germany 364027 
5- Lee WertWoad. England 327.732 

6. Per-uirfk Johansson Sweden 310255 

7. Miguel Angd Martin. Spain 31 7,054 

8. Thomas Btom Denmark 299,914 

9. CeatanSno Roan, Italy 291,983 

10. Paul Braodnuret, Engtond23ft844 

11. Jose Marta OtazabaL Spain 222470 

12. Sam Tommce. Scotland 214707 
7ft Ignado Gantda Spain 212801 
14. Paler MilctwD, England 194718 
«5. Wtortciamese England ldSJ 75 


TENNIS 


Wimbledon 

FOURTH ROUND 

WOMEN** MHGUS - 

Maiflno Hingis <1J, Switzerland, dot 
Sabine Appebnmia.aelBtwn 6-1, 6-3; Yayuk 
Basulu, Indonesia def. PoWdo Hy-Botriah, 
Crenda. a-a 7-6 (7-29 . 

Anntatn Sanchez Viemfo (fl), Spain, tie l 
M«Y Ptoree (9), Franca ftl, 6ft Natbgtta 
Tnalab France, def. Sandrine Tested 
Franca 4-6. 7-3, 12-70. 

Cldodkwa Czech Rapubfc def. 
Nwrta Atatondra Vania Venezuela, 6-,i 6ft 
•taira Nnatm, (3) Czech Republic, del Mary 
JoaFamanttazdl), U& 5-264,7-5. • 

Amo Koumftovn Russia, def. Htiena 
Ciedi RepabHc 2 -fc 6-2 6ft ho 
Mnjon 14), -Craatfa, flef. btna SpMea (12). 
^•tatania 6-7 (8-7 0), fti, 9-7. 

■UM'scmous 
Gwmany, dei Mark Wdod- 
h^AariraBa.M.6-7(7ft,«. 7-S Cedric 
«■* 

Greg RusedskL Britain def. Ridwv 

Smra? f 5, **«*>**■ def. Marceto 
W. 01066-2 6-2 7-6 (7J). 

AustndJa, deL Patrick 
MBwna, Auttauai-y pa,64,7^«M), 

«««. Germany, M. Yevgeny 
>«toWtov O). Russia. 6-2 7-5, 2-6, 6-1. 














£JA 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 2, 1997 


PAGE 21 


SPORTS 


SESPAV, H U , 1(i 

ictory 
Hingis, 
2d Teen 
ps Pace 


Deja Vu; Braves 
Fall Short in N.Y. 


The Associated Press 

The calendar said June, but 
the scoreboard made it ‘feel 
[flee October again to the At- 
ianta,Braves. 

liiis Sojo’s two-out single 
in the 10th inning scored foe 


dreamed of pitching in Yan- 
kee Stadium, also got thp 
world champs to ground into 
five double plays. 

The Braves had gotten the 
go-ahead ran to third with two 
outs in the top of the ninth. 


Giraidi from second. base But Kenny Rogers, who re- 

■ 1_ .1 : i.. _t in .... - - • -»- 


<jf.- • t' .. 

©ON. Hivriand 
*omcp.‘> Vv i 
ourse to hecoitiv 
rfUur.pion th:s 
inc Appt*{mjn>« ', 
Tm.*sda\ 

mother {6-tear-. 

, an unheeded fc u 

dwuSukm.j j , 
ce Kouraiko . . 
led on mate]; \ *. x: ■ 
ouuLtfccNo- - >; 

uuU lurthe mv . 

siting Mar* J... r 
Jiwrican won;..:. 
7-5 FentiMJ.fiv 

ted sevemi Unc ..., 

Sanchc* Vuaru 
* seed, cruited 
swithatM.o- ' • v 
Pierce nfFr...,,,- 
r uome/T-s. ■ 
"ayuk Basok- i-. : 
•, 6-0. 7-6 . " ; 

topped Mac !.i 
. 6-.'. Nathalie T 
rine Tested. -I 
p?h. the No 
.. 1 2. 6*7. <«-!.'■ 

do, Hingis r ; 
•complete a \ •• 
play was suv.v... 
i time m io^r 

por>U*Ofi to 

tenuity iiW • 
mgles wham;- - i 
xt. who won • 
ir. 

> sa* me as . : 
ui the tmirrs..' 
it through p»f 

i. 

%•» tefnayei m. 

37 rr|nufe-s 
t a! in 1 
4 ! -r 

M r»e >•!: 
eimarh . 

tsp;!c a sUi:- ■ 

kKulptfUcdb.- 
taltoi U# !>»:*• 
jMii dropped • 

proxy iucky if., 
hi aft?**; *m o . 
.ta!!." 

/tivtJ/itfieJset* 
ri/iwns xilvf 


.with the game’s only run on 
£&fonday night as the New 
York Yankees beat Atlanta, 


l-0,in a rematch oflastyear’s roller to third 


placed Pettitte in the sixth, got 
out of the jam by retiring 
Mike Mordecai on a slow 


World Series teams. As in 
(James 5 and 6 last fall, the 
Braves came up one run short 


Pettitte, who beat Atlanta 
in Game 5 last year, coasted 
through the first five innings. 


against the Yankees. It was allowing three hits and strik- 
Adanta’s fifth straight loss to ing out five. But die left- 


cheAL champions. 

“It wasn't October, but it’s 


bander was forced to leave the 
game with a bruised calf after 


no less frustrating,” said the being struck on the left; knee 
■ by Javy Lopes's comebackcr 

BAiiMLLKouHDur with one out in the fifth. 

• ■ Hm>n«n 3, Ooiigere 2 In 

Braves’ .starter, Tom Glav- - Los Angeles, Bobby Witt be- 
ine, who pitched nine shutout came the first American 
innings. “That’s the way it League pitcher to hit a reg- 
goes- sometimes.” - ular- season home ran in 

PCs nine innings, fee teams nearly 25 years, leading 
played with postseason zeal Texas to just its third victory 
as the zeros went up on the in 13 games. 

[board. And while this first Witt (9-4) homered off Is- 
meeting between the clubs mael Valdes (4-9) in the sixth ‘ 


Aboard. And while this first Witt (9-4) homered off Is- 
* meeting between the clubs mael Valdes (4-9) in the sixth * 
since Oct. 26 lacked the inning to give Texas a 2-0 
pregame hype and excitement lead. Baltimore’s Rode Har- 
of last year’s memorable rison was the last AL piteher 
Series, the pitcher’s duel be- to hit a regular-season homer, 
tween Glavine and Andy Pet- doing it at Cleveland on Oct 
tine— as well as the tie score 3, 1972. Ken Hofrzman 

after nine innings — gave homered for Oakland in the 
everything an October feel 1974 World Series against 
In die 10th, Chad Curtis Los Angeles, 
singled with one out off Mike Tfewra 14, Htu o Bobby 

Bieledri (3-4), but was Higginson had three home 


title— as well as the tie score 
after nine inning s — gave 
everything an October feel 
In die 10th, Chad Curtis 
singled with one out off Mike 
Bielecki (3-4), but was 



Tyson Says He’s Sorry 

But Boxing Panel Swings Into Action 


Viorrm Ldorrt/Apwr Fra«. 

The Cubs’ Scott Servais trying to catch a pop foul against the Royals. He failed. 


thrown out by center fielder runs and seven runs batted in. 
Andrew Jones trying to take and the Tigers’ starter, Justin 
third on Guardi’s single. Thompson, allowed four hits 
Derek Jeter then 1 singled and in eight innings . 

Sojo grounded a single Higginson hit a two-run 

homer in the first, a three-run 
third shot in the sixth, and another 


des. won his 100th game as the Cardinal* 2 , Turin* 1 In St 

14, Mata o Bobby Orioles routed Philadelphia Louis, Gary Gaetti. Min- 
n had three home to end a four-game losing nesota’s star third baseman a 
seven runs batted in, streak. decade ago, drove in the win- 

igers’ starter, Justin Mossina allowed six hits ning run with a third-inning 
n, allowed four hits over eight innin gs to improve single as St Louis beat the 
inings. to a career mark of 10043. Twins in the opener of a series 

son hit a two-run Giant* 8, Manners s Glen- matching the 1987 World 
the first, a three-ron alien Hill hit a run-scoring Series opponents, 
e sixth, and another single in the lOth inning ana Rodu** ii, Angels 7 In 


1 ^ . -through the middle. 

Girardi rounded third 
1 -’ about the same time Jones 


fielded the ball, but his throw 
was late and Girardi raced 
across the plate -and into the 
waiting arms of his team- 
mates. 

Glavine limited the Yan- 
kees to eight hits. The left- 
hander, who grew up a Bos- 


two-run homer in the seventh Marie Lewis added a sacrifice 
to push his season total to 12. fly as San Francisco won in 


Twins in the opener of a series 
matching the 1987 World 
Series opponents. 

Rockies 11 , Angels 7 In 


Indians 6, Astros 4 In Hous- 
ton, Kevin Seitzer hit a two- 
run, pinch-hit home run in the 
ninth inning, and Cleveland 
teammates Man Williams 
and Brian Giles hit consec- 
utive homers in the seventh. 

cubs a. Royal* 7 Dave 
Clark’s three-run, pinch-hit 
homer with two outs in the 


Raul Casanova, Damion Eas- 
ley and Orlando Miller also 
homered for the host Tigers. 

Orioles s, Phillies 1 1n Bal- 
timore, Cal Ripken’s second 
grand slam erf the season 
highlighted a six-run third. 


ton Red Sox fan and always and Mike Mussina (10-2) against 


Seattle. 

Edgar Martinez tied it in 
the ninth with a run-scoring 
single. Jeff Kent, J. T. Snow 
and Lewis also homered for 
the Giants, who are 6-1 in 
interleague play and 3-0 
against Seattle. 


Denver, Colorado’s Dante .eighth capped a five-run in- 
Bichette capped a five-run ning as the host Cubs rallied 


second inning with a two-run 
double, and also had two 
singles against his former 

tftnm. 

Larry Walker and Andres 


against Kansas City. 

Kansas City built a 7-3 lead 
behind Jeff King’s fifth 
homer in seven interleague 
games, and Jennaine Dye's 


Galarraga hit consecutive career-high four hits. Dye and 
homers in the first. Walker’s Chicago’s Mark Grace also 


25th and Galarraga's 22d. 


In Canadian First, Expos Beat Blue Jays 


. I, Canada Day, a large crov 

AW1 tH ifv CanahansttoresofLakeOni 

% Pi l il t III J while “O Canada” Wared 


m Pew*. L.i.i ' •• 
j’ fc.i .ftj’c ‘v:' 

W fv: .■> 
rfeycr . 

tpfUCuv 
•AjUbctivr : 

or rv.'Wf*. 


CeaptlaJ M- (Mr Sk&F'vbi Dapuxba 

• TORONTO — For the first time 
since baseball b^an playing the na- 
tional anthem as a patriotic gesture in 
the opening days of World War H, a 
regular-season major league game 
began without . “the Star-Spangled 
Banner.” 

Instead, on Monday night, the eve of 
Canada Day, a large crowd on the 
Canadian snores of Lake Ontario stood 
while "O Canada” Wared over the 
loudspeakers erf the Skydome in the 
histone firsr interleague meeting be- 
tween the Toronto Blue Jays and then 
Canadian rivals, the Montreal Expos. 

The garfce turned into a battle- be- 
tween two of baseball’s best pitchers. 

Montreal’s Pedro Martinez out- 
dueled Toronto’s Pat Hentgen to lead 
the Expos to a 2-1 victory over die 
Blue Jays. 


“He’s one of the nastiest right- 
handers I've ever seen,”' Hentgen 
said. “Pedro was on top of his game, 
there’s no question. That guy is really 
nasty. As soon as I gave up the one run 
I knew I was going to have to battle to 
keep us in die game.” 

Martinez (10-3) allowed just three 
hits over nine innings while striking out 
10 . 

Hentgen (8-5). the 1996 Cy Young 
Award winner, also pitched a com- 
plete game, giving up six hits and two 
earned runs and striking out three. 

The lone blemish ou Hemgen’s 
evening was Vladimir Guerrero's solo 
homer m the second. 

Martinez came into the game with a 
major-league best 1J8 eamed-run av- 
erage and retired die first 12 batters he 
faced before walking Carlos Delgado 
to lead off die fifth. Martinez took a 


no-hitter into the sixth before Alex 
Gonzalez's lead-off single. Delgado 
broke Martinez’s shutout bid with a 
solo homer in the seventh. 

But Martinez brought many of an- 
nounced crowd of 37,430 at the Sky- 
Dome to their feet by striking oiit 
Toronto’s Joe Carter to end the game. 

“If it was a masterpiece; it was a 
team masterpiece,” Martinez said 
modestly. “My team played good de- 
fense out there.” 

In an atmosphere best described as 
electric, there were as many vocal 
Montreal fans wearing Expos’ caps 
and jerseys as Blue Jays supporters. 

“I loved it,” Martinez said “They 
were cheering so loud that you didn’t 
know who was rooting for you or 
against you. It was a lot of fun to see 
quire a few fans cheering for 


homered 

Marlins 8, R*d Sox 5 Alex 
Fernandez (9-6) allowed four 
runs on six bits in 7'A innings 
to win his fourth straight start 
as Florida won in Boston. 

Florida scored five runs on 
four Boston errors, and Tim 
Wakefield (3-8) helped the 
Marlins with seven walks to 
go with the seven hits he al- 
lowed in 634 innings. 

Rod* 4, Bnwan 3 In Cin- 
cinnati, Joe Oliver homered 
and drove in the Reds’ first 
three runs. Bret. Boone 
knocked in the go-ahead run 
with a ground-out. 

Pirates 3, White Sox 1 In 
Pittsburgh, Jon Lieber bad a 
career-high 10 strikeouts and 
held Chicago to fivehits in his 
second career complete 
game. Kevin Young and Dale 
Sveuro homered. 

Padr«a 15, Athlaties 6 Tony 
Gwynn. Chris Jones and Greg 
Vaughn hit three-run homers 
and Wally Joyner tied a career 
high with five hits to help San 
Diego win in Oakland. 


By Tim Kawakami 

Las Angeles Times 

LAS VEGAS — Mike Tyson came alone, 
wearing white, and asked forgiveness for 
biting Evander Holyfield’s ears in their 
heavyweight championship bout 
Tyson, dressed in apale suit with a bandage 
over the long. cut on his right eyebrow, ap- 
peared without any of his entourage. Tense 
and animated, he read a prepared 4-minute 
16-second statement Monday. 

Tyson’s appearance came on the eve of a 
preliminary meeting by the Nevada State 
Athletic Commission over his ear-biting at- 
.tack on Evander Holyfield. On Tuesday, the* 
commission voted to confirm an earlier de- 
cision to temporarily suspend Tyson and 
freeze his $30 million purse. It is allowed to 
permanently withhold up to 10 percent of the 
purse. 

Tyson was not present at the hearing. 

The commission also decided to serve 
Tyson with a complaint Tuesday. That would 
enable the disciplinary hearing to begin July 
8 . 

“We’re obviously going to ask for some 
reason and judgment” at the hearing, said 
Marty Keach, a Tyson attorney. 

“He also wants to fight again. That’s what 
he does for aliving. That’s what his whole life 
is based on,” Keach said. 

Chi Monday, his 31st birthday, Tyson apo- 
logized to the Commission. 

Saying he was “in the prime of my ca- 
reer,” Tyson said be would accept any pen- 
alty except a permanent ban. At least one 
source said Monday that several commis- 
sioners were leaning toward a- two- or three- 
year ban. 

“Saturday night was the worst night of my 
professional career as a boxer,” Tyson said. 

“I am here to apologize today . to ask the 
people who expect more from Mike Tyson to 
forgive me for snapping in that ring and doing 
something that I have never done before, and 
will never do again.” 

Tyson apologized to Holyfield. apparendy 
mostly for derisive comments by his co- 
managers, John Home and Rory Holloway. 

‘ T have also told everyone associated with 
me that I will not stand for any more of the 
nasty and insulting comments made to Mr. 
Evander Holyfield and his boxing team,” 
Tyson said. “Evander, I am sorry. You are a 
champion, and I respect that.” 

In an interview with an Atlanta television 
station, Holyfield said die apology was “a 
good gesture.” 

“The fans truly deserve it most,” Holy- 
field said. “They are the ones who didn’t get 


to see a full show. ’ ’ Tyson also apologized to 
Indiana judge Patricia Gifford, who presided 
over his rape conviction more than five years 
ago and oversees his continuing probation. 
Tyson said that Gifford, “knows that I am 
proud to be living up to the terms of my 
probation.” 

During the melee in the ring after the 
disqualification, Tyson either shoved or 
struck a Las Vegas policeman which could be 
a violation of Tyson’s parole. Metro police 
have given no sign that the matter will be 
pursued criminally. 

Gifford told an Indianapolis newspaper 
that unless Tyson were charged with a crime, 
bis behavior in the fight would probably not 
affect his probationary status, "j don't think 
misbehavior is a basis for probation revoc- 
ation or review,” Gifford said. 

Comparing his action with Baltimore Ori- 
ole Roberto Alomar spitting in the face of an 
umpire last year, Tyson said he “snapped” 
after receiving a cur over his right eye when 
Holyfield butted him. The butt was ruled 
accidental by referee Mills Lane. 

“For an athlete in the bear of battle to 
suddenly lose it is not new,” Tyson said. 
“But, it s not right And for me, it doesn’t do 
anything. 1 was wrong. And 1 expect to pay 
the price, like a man. T expect the Nevada 
State Athletic Commission to hand down a 
severe penalty and I am here today to say I 
will not fight it I only ask that I not be 
penalized for life for this mistake. " 

At the end of his statement, Tyson sug- 
gested that he has sought out psychological 
aid. 

“I have also reached out since Saturday to 
the medical professionals for help,” Tyson 
said, “to tell me why I did what 1 did. And I 
will have that help. Now, 1 will continue ro 
train, not just my body, but my mind, too.” 

■ Forgiveness May Be Cheap 

Boxing promoters said Tyson’s enduring 
box office appeal meant that he could expea to 
fight again as soon as any ban ended, reported 
Richard Sandomir of The New York Times. 

“He doesn’t deserve a rematch with Holy- 
field and doesn’t deserve to fight for a Jong 
time,” said Dino Duva, Holyfield *s former 

£ remoter. “But a lot of people would fight 
im for the money he would generate. Mike 
still fascinates.” 

Without Tyson, U.S. pay-per-view tele- 
vision distributors would expect a reduction 
in revenues because no other heavyweight is ' 
as attractive. Tyson has participated in seven 
of the top 10 pay-per-view bouts ever. 

“For the right money, there’s forgive- 
ness,” said Bob Aram, another promoter. 


A Law With a Biting Backlash 


The Associated Press . 

CHARLOTTE, North Carolina— Mike 
Tyson should be glad he did not fight and 
bite Evander Holyfield in North Carolina. 
He might have been charged under a 243- 
year-old law that prohibits biting or catting 
off ears, cutting noses or other maiming. 

Norm Carolina’s isn’t the only law 
against biting. There is one in Nevada, 
where the Tyson-Holyfieid fight was held, 
that has a penalty up to 10 years in prison 
for anyone who 4 ‘deprives a human being 
of a member of his body, or disfigures or 
readers it useless.” 

In North Carolina, violation of the law is 
a felony and 1 1 persons were charged with 
it last year. The penalty is 20 months to 5 
years in prison. • 

The law grew out of the rough-and- 
tumble fighting style that was popular in 
the western Carolinas, Kentucky and Ten- 
nessee in the 18th century. 


‘ ‘It really was a reversion to that old kind 
of fighting.” said Elliott Gom, a professor 
at Miami University in Ohio, discussing the 
third round of Saturday night’s heavy- 
weight championship bout. 

‘‘He’s a student of the history of die 
ring,” he said of Tyson. “He knows about 
die old eye-gouging fights. I have to won- 
der if he didn't really know what he was 
doing.” 

Gom, a scholar of rough-and-tumble 
fighting, has wrinen: “The emphasis on 
maximum disfigurement, on severing bod- 
ily pans, made this fighting style 
unique.” 

Some fighters supposedly filed their 
teeth to make their bites sharper. Others 
“filed their fingernails hard, honed diem 
sharp and oiled them slick. ’ ’ 

Reacting to four deaths from such fights. 
North Carolina’s Colonial governor de- 
manded legislation barring such maiming. 


Hftnt* ijo** 1 , , 

* “ ' . 



*lh NOTBfW W THE BUT I KNOW 

THOTttfcwrt'Sf WLAtfinkfHG!* 




ZARUE 


VMM 1 # , 



mm 


BEETLE BAILEY 


NON SEQUITUR 


DOONESBURY FLASHBACKS 


WHY I6NT BEETLE 
HERE FOR 
INSPECTION? > 




jftMmng* MOeMMm* 
. wmnmnKiiw 

HIIITTK tn 

GAVQ. WHEAT FHOSTY. BB40LD 

ttiteHnWHfibN 

eftat-AKHD-screr- 


I Recruitment 

Appears evprv Monday 
rtr The Ituehnarkn. 

To contact 

kunhrrfv Currrarid-BetranWKnt 
TeLr-f 33 (0) 1 41 43 04 76 
Riv* 33 (fl) 141439370 

or wjur nearert JHT office 
" or representative- 






THE BCCT m \ CUN CXPLKN IT 
To You, HM, It.Yotfrc WC, 
ft* TQM JM> THE BEST 
oT THE WoBLD K OH MD 
I MKT To WS TUQR efTEfi 


BLONDEE 



we wttrs? j with times, 'iOu 



DON'T WtaZY, HONEY YOU'LL BBT 
YCUH VACATION... LET'S r— - 

10 SLEEP r— 



■fill 





mm ii mm 


TUB fUX&NG 

ssupposec? 
TDOtssr 
Asovrfwz 
\ oooocm 

W fiPJSPHOON. 


MEDIA RELATIONS 


em7 *lir UAr/ to*, w WiiW» | tm hit Vrtnn Inv 




’j&+; 





















.*m 9 i#s?»eMF?F gffisf ihk mr ms? rsm iehmi 


PAGE 22 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. JULY 2. 1997 


OBSERVER 


The Outrage Meter 


The Hong Kong Handover as a Movie Set 


By Russell Baker 


N EW YORK — My out- 
nee generator is out of 


IN rage generator is out of 
order. Hard as 1 try to work up 
a full head of outrage about 
the tobacco industry, I cannot. 
It is alarming. Being outraged 
about big tobacco is the duty 
of every decent American just 
now. I cannot manage it. 

On the other hand, I be- 
come purple with outrage 
when someone writes a sen- 
tence that begins, “On the 
other hand 

You see what I mean: mal- 
functioning outrage genera- 
tor. Not a drop of sream sizz- 
ling off the top of the skull 
about those vile tobacconists, 
but red-hot pedantic rage 
about flabby diction. 

And whai is my response to 
matters every decent Amer- 
ican has a duty to smile upon? 
Outrage. Inappropriate out- 
rage. The ricn-voter-friendly 
tax cut now being planned by 
President Clinton and the 
Congress, for instance, pro- 
duces only a sullen outrage. 


Look at the case of the vile 
tobacconists, for whom I feel 
no outrage whatever. They 
were just another group of 
consumer-goods peddlers 
who used modem salesman- 


ship methods to get people 
hooked on their product: We 


hooked on their product: We 
are asked to find them unique- 


ly hateful because they used 
their wiles on children. 


their wiles on children. 

Struggling to achieve out- 
rage, I end up asking why we 
should confine our anger to 
the tobacco set. Shouldn’t we 
despise with equal fervor all 
consumer-goods salesmen 
who use modem advertising 
guile to make children crave 
their goods? 

Dozens of different busi- 
nesses are conditioning tod- 
dlers to lust for junk food. 


junk toys and just plain junk. 
Why is no one outraged by the 
Pied TV Pipers of Christmas 
and Saturday morning? 

Unhealthy though tobacco 
is, common sense harnessed 
to a little will power can break 
its grip. Addiction to a life 
spent acquiring unnecessary, 
consumer goods, however, 
may be just as destructive as a 
cigarette habit, and even 
harder to shake. 

So back to Washington's 
cockamamie tax cut: i am out- 
raged because nobody else is 
outraged abbut politicians for 
thinking us dumb enough to 
believe we can pay overdue 
bills by earning less money. 

Outrage oozes from every 
pore when these duplicitous 
emb aimers say tax cuts for the 
champagne classes are need- 
ed to encourage investment 
and spark business activity. I 
have to fight a childish im- 
pulse to ask hasn’t anybody 
heard about Wail Street's big 
bull marker deluging people 
with money. 

I am foolishly outraged 
about a government, which 
having just refined the wel- 
fare law to deny paupers’ tots 
a pot of beans, now plans to 
give boxcar-lots of money to 
die well heeled in the form of 
tax cuts. 

This is foolish of me. Child- 
ish nonsense. Economic ignor- 
ance. Liberal elitist idiocy. Out- 
dated humaoitarianism. I am 
ashamed to have an antique, 
broken-down, malfunctioning, 
dysfunctional outrage generator 
that cranks up such pap, 
rwaddk, piffle, drivel, poppy- 
cock, balderdash and malarkey. 

I shall have it replaced. 
Then I shall enjoy fuming with 
righteous anger about the truly 
serious outrages that every de- 
cent American has a duty to be 
outraged about, if only to di- 
vert ms attention from matters 
of genuine gravity. 

New York Times Senice 


By Seth Faison 

Ne n Yiiri Times Senice 


H ONG KONG — Filming a 
street scene in this hustling 
and bustling city has never been 
easy, what with all the local gahgs 
of organized criminals who de- 
mand protection money virtually 
every time a camera sets up. 

On top of these obstacles, 
Wayne Wang is directing sections 
of his new movie, “Chinese Box,” 
smack in the middle of the chaos 
and hoopla surrounding Hong 
Kong's return to Chinese rule. 

He and his crew have been film- 


ing several critical scenes in public 
Diaces while historic events like the 


places while historic events like the 
handover ceremony and the sailing 
away of the last British governor 
unfolded in the background. 

In “Chinese Box." which stars 
Jeremy Irons as a dying British 
journalist and Gong Li as a re- 
formed bar girl, Wang is trying to 
weave a story of imperfect love and 
disjointed relationships at a dra- 
matic moment, in history. The cli- 
max of the film comes for the fic- 
tional characters, as for the real 
city, in the last days of June. 

Wang said he liked to mix the 
structure of a scripted event with 


the unpredictability of the moment. 
But there is so much daily un- 


prised to find that events ^ 

were proceeding more 2 

smoothly and peacefully ^ * 
than he had expected. 

Wang was bom and 

reared here before moving 
to the United Stares in 1967, . 
and despite frequent visits, ttfc 
be said, the immense 5" 
changes here makeliim feel |BL 
somewhat out of touch. 

“There aren’t any police 
cracking heals of protest- K 
ers,” said Wang, who 
wrote the- screenplay for 
“Chinese Box" with Jean- 
Claude Camera (“Belle du 
Jour." “The Unbearable .JpSjjf 
Lighmess of Being”). CT 
“But that’s O.K. It's more 
subtle, and I think that r&jj* 
works better for the Film." , grjjg 
Wang, who is 48, ex- 
amined the subtleties of 
human relations in several Swm 
of his earlier films, which 
include “The Joy Luck I $f| 
Club’ ' and * * Smoke.” PjH 

After returning here this 
year, he said, he began to 
see die significance of the 
transfer of rule less in the W'ayn 
arrival of Chinese troops 
and more in the potential for eco- 
















\|jnCliin.TV Vh InK. Tod*- 

Wayne Wang setting up a scene In Hong Kong with Gong LI for his new film. 


must come from my moth- 
er’s traumatic - preg- 
nancy,” hesaid— and he 
was educated in-, a -school - 
. run. by Irislr Jesuits until ' 
his parents sent him to the 
United States. - 
After studying painting 
and film In California, 
Wang worked as a social : 
worker in Chinatown in 
San Francisco. In 1982, he 
made bis fust movie, 
“Chan Is Missing,” a hu- 
morous story based on 
people he had gotten to 
know there. ’’ 

That marked the begin- 
ning of whar Wang de- 
scribed as a conscious ef- 
fort to tell stories about 
Chinese-vAmericans: ■,* 1 Dim 
Sum.” “Eat a : Bowi of . 
Tea" and “The Joy Luck 
Club," based on Amv 
' Tan’s 1989 best seller. -T 
will go off and do 
something that has nothing 
to do with China.' like 
’Smoke, ’ bur I think will 
always come back to it,” 
said Wang. - 
Wane said he began 


On Monday night. Irons shot a 


But there is so much daily un- 
certainty in filming “Chinese 
Box,” be said, that he often won- 
ders- if the stress and anxiety are 
going to unhinge him. * 4 Every day I 
get up and ask my wife, ‘Why am I 
doing this?’ Wang said during a 
break from filming. 4 'And she says. 
‘You want it this way.‘ ” 

“You have to try to use the 
chaos,” he continued. “Hong 
Kong people work best on the fly. 
If you try to plan, it ’s never as good. 
Bur if you ask them, 'Can you do 
this right away?,' they give you 
their best work. i guess I'm like 
that, too.” 

The result, as one might expect, 
is that things ore not quite going as 
expected. When he arrived to start 
filming this year, anticipating a 
widespread sense of impending 
calamity, Wang said, he was sur- 


name change and the danger of los- scene in Hods Kong's convention 


ing freedom over the long run. In center, where many of the 8,000 


whole idea is ridiculous.” (Irons 
came without the insurance.) 

There have been other obstacles. 


fang said he began 
a film about Hong 


conceiving a rum about Hong 
Kong in 1 997 when he came here to 


“Chinese Box," be looks ar how thar- journalists who came to cover the 


affects human relations. 

“I realized how much change 
has already been going on over the 
past 10 years,” he said. “We tried 
to bring that into the film.” 

With the political background 
calmer than expected. Wang has 
found his biggest challenges to be 
more basic: shooting sneer scenes 
with actors as well known here as 
Gong Li, whose films include 
“Temptress Moon,” “Farewell 
My Concubine” and “Raise the 
Raj Lantern," and Maggie Che- 
ung. a star of Hong Kong action 
movies. The filming is constantly 
interrupted by turning beads, stares 
and autograph seekers. “We have 


events are stationed. Since he did 
not hire them as extras, Wang asked 
the journalists to act naturally and 
□or to look at the camera. 

But as it turned out. Wang's 
biggest problem arose from out- 
siders’ misconceptions about the 
level of danger in Hong Kong. 
Lawyers for another film'" irons is 
shooting in Paris suddenly objected 
to the plan for the actor to return 
here for two days of shooting, de- 
manding “political insurance" in 
case Irons was injured in a crack- 
down by China. 

With that about as likely as an 
earthquake swallowing Irons in Par- 
is. Wang was outraged ' ‘They want 


There have been other obstacles, make a quick low-budget movie in 
too. that have nothing to do with 1989 called “Life is Cheap, but 


political events, namely local organ- Toilet Paper Is Expensive." “That 


ized crime gangs, known here as 4 4 tri- movie ends with the main character 


ads.” During one day of shooting in asking ‘What’s going ro hap- 
Kowloon City', a crowded section of pen?’ ” he said “That whetted my. 


town, the crew hung sheets of light- appetite about the whole issue.” 
diffusing white silk outside a building The title “Chinese Box'-’ im- 
where they were filming . The chauf- plies the unknowable nature of 
feur of a triad leader died unexpec- China. “Like one of those Russian 
redly that day, and since white is dolls, you can open. layer after lay- 
considered the color of death, the er, bur you stifi never know what’s 
triads blamed Wang and his crew, going to be inside,” Wang said. . 
4 ‘The next dav we had to leave," said 4 ‘It’s complex, it’s secretive.’ ’ 


Wang. “There was nothing we could 
do. No amount of money would fix it. 
We had to find a new' location and 
reshoof the entire scene. ” 


“Most people aren't going to 
shed a tear about the British leav- 
ing, and they’re not so thrilled about 
the Chinese coming,” he said. 


to put actors right in the middle of us to pay $400,000 to insure him for 
things, ’’said Wang. “It's very hard two days." fumed Wang. “We 


to control exactly what happens. ” don’t have that kind of money. The 


With his background. Wang has “But what they appreciate most is 
a special perspective on Hong the freedom they've always had- 
Kong. His parents escaped here here. This sense of freedom, of hav- 
from mainland China just 10 days ing personal choices, will change- 
before he was bora — “My anxiety Or at least it remains unclear.” ~ 


i l . • - ■ ■ -4* 

\ V u! 





.?•!-_ 

■ V. 

% 

/'*'&***> 





& 




PEOPLE 


W HISKY and Soda, Chris Patten's 
Norfolk terriers, have arrived in 


▼ V Norfolk terriers, have arrived in 
France to be cared for by the former 
Hong Kong governor’s new neighbor 
until their master arrives. The two dogs 
arrived at Toulouse airport and were 
headed for the home of a neighbor in the 
village of Saint-Martin-Laguepie, 
where Patten is to write his memoirs. 
The terriers were shipped to France be- 
fore Patten left the former British 
colony aboard the Royal yacht Brit- 
annia. They have been brought to Pat- 
ten's retreat in the south of France to 
avoid Britain's strict quarantine laws. 


York Post said. The Times agreed: 
“The show could be redded 'Victoria/' 
Victoria.’ " 


Duke Ellington was remembered 
Tuesday at the unveiling of a statue in 
the northeast comer of Central Park in 
New York. Wynton Marsalis and El- 
lington’s granddaughter, the choreo- 
grapher Mercedes Ellington, unveiled 


pleased with the quality of her work, but 
the quantity. "She has a full-time job at 
the New Republic, and her contract with 
us was like another full-time job," 
Beiser said. “Like Mike Tyson, she bit 
off more than she could chew.” 


the bonfires to proclaim her own her- 
itage. “I’ve got Cherokee on both sides. 
Both great-grandmothers,” Lynn said. 
She will perform Saturday at Pow Wow 
1997. a gathering at Loretta Lynn’s 
Ranch Campground in Hurricane Mills, 
west of Nashville, Tennessee. 


Speaking ar a rally against youth vi- 
ence in Montgomery. Alabama, the 


the sculpture at the gateway to Harlem, 
where Ellington made his markon U.5. 


music history. 


Raquel Welch playing a woman pre- 


tending to be a man pretending to be a 
woman? Many New Yorkers didn't buy 
ir. Welch’s debut in the lead role of 
“Victor/Victoria,' ' until now played by 
a more credible Julie Andrews, was 
snubbed by theatergoers and the theater 
had to offer tickets at half price to fill the 
seats. “When God created the splendid 
Welch, I think it is safe to assume that he 
didn't have a man in mind.” the New 


Mikr Stgjr/Rruw' 

FUN AT THE FORUM — President Clinton embraces Whoopi Goldberg 
during a visit to “A Funny Thing Happened on the Way to the Forum” in 
New York. Al Gore and actor Dick Latessa provide support roles. 


The writer Ruth Shalit has been let go 
by Gentlemen’s Quarterly magazine. 
“We agreed mutually that she was un- 
able to meet the stipulations of her con- 
tract," GQ’s managing editor, Marty 
Beiser, said. Shalit has caused quite a 
ruckus as a writer, first by borrowing 
liberally without attribution from other 
writers and magazines, then by penning 
a controversial New Republic piece on 
race relations at The Washington Post. 
Beiser indicated that GQ wasn’t so dis- 


olence in Montgomery. Alabama, the 
rap star Christopher Martin said a 
broken marriage and poverty depressed 
him so much a few years ago that he held 
a loaded gun to his head. He never fired, 
he said, because. God stepped in. “He 
said, 'You had your chance. Let me 
have my chance.’ “ Martin recalled. He 
said he was unprepared for success, and 
ran through his money by spending 
wildly and making bad investments. His 
marriage to the actress Shari Headley 
broke up after a year. 


Loretta Lynn not only plans to sing 
at a gathering celebrating the Cherokee 
culture, she's also thinking about join- 
ing an American Indian dance around 


The singer Sade will be anesred if 
she returns to Jamaica after a magistrate 
issued a warrant for the Nigerian-born 
star, who is accused of dangerous driv- 
ing. Sade allegedly led police on a high- 
speed chase along Montego Bay’s 
coastal highway in February, She has 
failed three times to appear in the Mag- 
istrate's Court in Jamaican's northwest, 
where she had been living with her 
companion and their child In court. 
Victor Robinson, her lawyer, said he 
had not heard from Sade and had no idea , 
where she was. “She now has a new 
lawyer.” he snapped. Last week, 
Robinson fold the court that a man had 
called his office to say Sade was in 
London. He pleaded then for more time 
for her to make an appearance. 






ff.i 



/~T— ‘ s - *. " 


Every country has Its own AT&T Access Number which 


makes calling home and to other countries really east: 



Just dial the AT&T Access Number for tlie country you’re 


calling from and you'll get the fastest, clearest connec- 


tions home. And be 'sure to charge your calls on your 


AT&T Calling Card. It'll help you avoid outrageous 


phone charges on your hotel bill and save you up to 


So when in Rome for anywhere else for that 


matter), do as many business travelers do. Use AT&T. 


do as the 172-10tls do 


■Please check the list below for AT&T Access Numbers. 


I. Jus dial the AT&T Access Number for the country you 
are calling from. 

-■ Dial the phone number you're calling. 

j. Dial thacalling card number listed above vour name. 


fttf 003 1 


tastrla«o 

BelQiB&i*. . . 
Gae&BdPflMle* 

Franca 

Germany . .. . 

Greece* 

Ireland . . . 

Italy* 

Nathmtends* . ... 
Russia •a(Moimw) i 


•m®*! 


...MOMHMO united Kingdom* 
.00*42400-101 


. 04004 M 011 

W 30 -HI 1 D Egypt •(Cairo)* 


MIDDLE EAST 


020 - 795*611 

OBOO-M-W 11 

... 0500-594011 

Moo-ra-ran 


. 00408-1311 Israel. 

.. 1 - 680 - 550-000 Saudi Arafilao 


172-1011 

022-9111 HfinT”. 


. 510-0200 
177 - 100-2727 
1 - 000-10 


. 755-5042 Kenya* 

990 - 99 - 00-11 South Africa 






_ — ■ouuTict- 3 iii anana. ... mm 

j. LMal thecalling card number listed abore vwir rame. =?.„ "Sr" ... .W WW few* Mono 

Cant find the AT&T Accra* Number lor die country vwj'rv ailing from' Jus am operator for 

. AT&T Direct" Sente, or vbir our Ueb sire at hnp^/www^rtxtwn/trardCT 

u 

1 ■ ji «d JK InmoA.Kl > 1-nrt Jlrtrtuntialateret IftAk ^ ^ *1 '*^«;* *** LaUinRMtW* Jtl > r.irricdW 

f. mm- -41 O |g.nirtf •Jj-i-ig jl. iltal u. VJ. tj.i, Bvifcn.?! <D*T 




I 


9