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The World's Daily Newspapei^ % ^ 


London, Thursday, July 3, 1997 

No. 35.f 

Jimmy Stewart 
Js Dead at 89 

G)«prJn/*v Ctr Sufi from LtispucUn 

; LOS ANGELES — Jimmy Stewart, the lanky, slow- 

speaking actor who starred in such classics as “Mr. SmrtJi 

: G^To Washington” and “It's A Wonderful Life.” died 
on Wednesday, his agent said. He was 89 years old. 

The agent, Mort Viner. said Mr. Stewart died of 
caixliac arrest at his home in Beverly Hills. 

Mr. Stewart was one of the greatest stars of Hol- 
lywood’s golden era. 

He won Hollywood's biggest accolade, an Oscar, 
for best actor opposite Katharine Hepburn in “The 
P hilad elphia Story’ ' in 1940. In 1980, he was given an 

. See STEWART, Page 6 

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On Civil Bights 

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By Andrew Pollack 

New York Times Service 

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TOKYO — For some Asian countries, which 
were once British colonies themselves, die end of 
Britain's 156-year rule over Hong Kong was a 
boost to Asian pride. 

In South Korea, which faces hostile North 
Korea across a heavily armed border, there was a 
tinge of envy that China and Hong Kong could be 
reunited so peacefully. 

But as Hong Kong’s Asian neighbors observed 
and celebrated the fireworks Monday night, they 
did not care so much about the issue that has 
■preoccupied the United States — whether China 
mil clamp down on civil liberties in the former 
British colony. 

• ‘That is not our priority,” said Chang Chul 
Kyoon, deputy director general for Asia-Pacific 

I'.r •" 

'•?.'! rr 

See ASIA, Page 6 

‘New Labour’ Unveils 
Pro -Business Budget 

Brown Lives Up to Anti-Tax Pledge 

Remgchai Marakanond, right, the Bank of Thailand governor, and an aide meeting the press. 

Thailand Lets Its Currency Slide 

De Facto Devaluation of Baht Is Aimed at Reviving Economy 

By Thomas Fuller 

Special to the Herald Tribune 

BANGKOK — After weeks of national soul- 
searching and billions of dollars spent defending its 
beleaguered currency, Thailand shook Asia's markets 
Wednesday by letting die baht slide in a surprise 
devaluation aimed at reviving its economy. 

The baht, for decades one of the region's most stable 
currencies, lost 20 percent of its value, with the dollar 
rising to 29.50 baht, after the central bank ordered 
what was termed a * ‘managed float” bur was a de facto 

The devaluation, Thailand's first in more than a 
decade and a reminder of the Mexico currency crisis of 
1994, sent shock waves through Asia’s financial mar- 
kets. The Philippines and Malaysia were forced to 

defend their currencies in turn. Manila sharply raised 
overnight borrowing rates, and dealers said the Malay- 
sian central bank sold dollars to shore up its cur- 

Foreign and local investors applauded the devalu- 
ation. however, driving the stock market index up by 
nearly 8 percent, to 568.79. "We felt it was time for 
them to devalue and face the reality of what their 
currency was really worth,” said Mark Mobius, pres- 
ident of Templeton Emerging Markets Fund Inc. 
“Now that they’ve done it, it helps, I think, to clear the 
deck.” he told Bloomberg News. 

But there was anger among many of Thailand’s 60 
million people, who woke up Wednesday consid- 
erably poorer, facing the reality of slashed savings and 

See THAILAND, Page 6 

Mt ‘Hide wi. 
:ct H.l- 

France and Germany: Recharging the Batteries 

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InunuOioiM NeruU Tribune 

PARIS — When a polling organi- 
zation asked a group of young Germans 
a few weeks ago what they thought of 
the special relationship between France 
and Germany, die response from 77 
permit was that the idea was a myth. 
For 60 percent of the Germans under 

cathedral of understanding at the Rhine 
was now mostly incense and incant- 
ation. a European holy place that every- 
one said they were eager to preserve at 
the center of the Contineni’s political 

construction, but ■ - 

did not quite know 
bow to refill with 

*30 canvassed by the Forsa public-opin- 
ion organization, the concept of a spe- 
cial French -German friendship existed 

only in the minds of politicians. 

The politicians caught up with reauiy 
tins week, acknowledging that Charles 
de Ganlle and Konrad Adenauer's great 

fervor or commitment or substance. 

In a symposium at the National As- 
sembly, bringing together leading gov- 
ernment and opposition legislators from 
both countries to discuss the topic 
“French-German Relations: Marital Tiff 
or Divorce?” the confessional tone and 
the only-now-can-I-hint-how-much-I- 
distrnst-you refrains came in a rush. 

Participants asked out loud if the of- 
ficial theme for the discussion, 
sponsored by three French and German 
public policy organizations, was not a 
bit overstated, and the answer came 
M i back “No.” Then. 

NEWS ANALYSIS f ° r * bo ' A s * ven 

usual hours, the 

deterioration in the relationship, nor- 
mally veiled in ritual and pious mum- 
bling, lurched explicitly into view. 

Francois Hollande, spokesman of the 
Socialist Party, said the special con- 
nection had “broken down.” Jack 
Lang, now the chairman of the National 
Assembly 's foreign affairs commission, 
described it as having reached “a dead 

end.” and Laurent Fabius, the National 
Assembly president, talked of a “spiral 
of misunderstanding” that had brought 
French-German ties into “serious and 
unprecedented” difficulties. 

The Germans, led by Karl Lamers 
and Kars ten Voigt, respectively the par- 
liamentary foreign-policy spokesmen 
of the Christian Democratic and Social 
Democratic parties, generally used less 
charged language as guests on French 
turf, but made clear thar confidence had 
fallen away sharply in the basic areas of 
security and economic policy. 

Mr. Fabius caught the frankness and 

See EUROPE, Page 6 

By Youssef M. Ibrahim 

New York Times Sm'tre 

LONDON — In the first British 
budget announced by a Labor govern- 
ment in IS years, the chancellor of the 
Exchequer, Gordon Brown, reassured 
business on Wednesday that the finance 
ministry will remain the locomotive of a 
growing economy, granting tax breaks 
for large and small companies designed 
to spur profits and investments ahead of 
the rest of Europe. 

Echoing themes often heard from the 
adherents of globalization, the finance 
minister of “New Labour” lived up to 
his party's commitments to break with 
its old tax-and-spend ways. 

Mr. Brown told a lively Parliament 
that old jobs, old skills and old industries 
“have gone and will never return." 

The road to a better fumre, he said, 
lies instead in fiscal discipline and strict 
control of inflation — as the only means 
to achieve “stability, investment, work 
and opportunity for all. ' ' 

By far the biggest winners of the day 
were large businesses, which received a 
further cut in corporate taxes, from a 33 
percent ceiling to a 31 percent ceiling — 
the lowest among Western industrial- 
ized stares. 

Small businesses will see their tax 
rates lowered to 21 percent from 23 
percent. Capital allowances for the pur- 
chase of equipment were doubled on 
plants and machinery in the first year of 
new businesses. The film industry will 
get tax breaks amounting to nearly $50 
million over the next three years. 

The new budget sets Britain further 
apart from such countries as Germany 
and France, which are still struggling 
with pugnacious labor unions, restrict- 
ive investment climates and expensive 
welfare benefits. 

In France, the Socialist government 
said Wednesday that it was considering 
increasing taxes on companies to cap 
the public deficit this year and try to 
meet the criteria for joining the single 
European currency. The government 
also said it wanted to make it harder for 
companies to lay off workers. Page 13. ~ 
The British budget also included a 
variety of indirect taxes on gasoline, 
liquor, cigarettes and a diminution of tax 
benefits on mortgages and private 
health programs. Those will be 
shouldered largely by the middle class, 
which will have to await an even 
stronger economy before getting tax 
breaks from the Labour government that 
took power May 1. 

There were few nods to Labour's 

original constituency amid the hard- 
pressed working class. Funds available 
for training the unemployed were in- 
creased. as were education budgets, but 
they were coupled with a further tight- 
ening of welfare benefits. 

Reaction in the City of London, 
where the big money nestles and where 
the budget was eagerly awaited, was 
predictably triumphant. 

“It strikes me as a very conservative 
budget on balance, with an accent on 
growth,” said David Freud, a managing 
director at the investment firm SBC 
Warburg. “This is very good news for 

See BRITAIN, Page 6 

Inquiry Set 
On British 
Beef Exports 

By Tom Buerkle 

International Herald Tribune 

BRUSSELS — Europe's beef crisis 
erupted anew Wednesday after the 
European Commission announced that 
authorities were investigating allega- 
tions of illegal exports of British beef in 
violations of a ban designed to safe- 
guard public health. 

The announcement threatened to deal 
a fresh blow to consumer confidence in 
the safety of eating beef. It also posed 
the first major European policy chal- 
lenge to the government of Prime Min- 
ister Tony Blair, whose election in May 
was helped in part by public disapproval 
of the previous Conservative govern- 
ment’s handling of the beef crisis. 

In London, the Agriculture Ministry 
promised a vigorous investigation of the 
allegations, which officials said could 
deal a major setback to the govern- 
ment's campaign to win European back- 
ing for a resumption of legal exports. 

•’It’s not welcome news," a ministry 
spokesman said. 

The 15-nation European Union im- 
posed a worldwide ban on British beef 
exports in March 1996 after the British 
government acknowledged a possible 

See BEEF. Page 6 


Bonn ‘Sympathizes 9 With Romanian Bid 
To Join NATO as Paris Delays a Return ' 

BONN (Renters) — Chancellor 
Helmut Kohl of Germany gave qual- 
ified support Wednesday to early 
NATO membership for Romania. 

; A week beforetoe alliance's summit 
-meeting in Madrid, a spokesman said 
the chancellor and the government had 
“a lot of sympathy for die Romanian 
desire for early NATO membership 
and support it.” 

- The spokesman added: “He indi- 
cated that this decision should be made 
on the basis of consensus of the 16 
NATO partners in Madrid." 

Earlier Wednesday, the chancellor 
had come under pressure at home to 
back Romania ana Slovenia for mem- 
bership. Page 5. 

France, meanwhile, said Wednes- 
‘ day that conditions were not yet right 
for ii to return to full membership in 

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NATO’s military wing. 

In a statement issued after President 
Jacques Chirac discussed the issue 
with the Socialist prime minister, Li- 
onel Jospin, the Foreign Ministry said 
Paris wanted ‘ 'to continue discussions 
with its allies to seek a better balance of 
responsibilities between Europeans 
ana Americans.” 

The statement made clear that Mr. 
Chirac, who initiated France’s rap- 
prochement with the Atlantic alliance 
m 1995, shared the hew leftist gov- 
ernment’s assessment that the United 
Slates had not yielded sufficient power 
to the European allies to justify a 
French return. 

Paris has demanded in vain that 
Washington hand over NATO's key 
Southern Command, which controls 
the Mediterranean, to a European. 


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Page 5. 



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Kohl Feels New Pressure Over NATO 


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| The IHT on-line 

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U.S. Approval on Boeing 
Is Irrelevant, EU Asserts 

Concessions Demanded in McDonnell Deal 

By Tom Buerkle 

International Herald Trilntne 


OIL FOULS TOKYO BAY — An oil fence being placed around a 
tanker that ran aground Wednesday and dumped 13,400 tons of crude 
into Japan’s busiest port. It was the nation’s worst oil spill ever. Page 4. 

BRUSSELS — Dismissing U.S, ap- 
proval of Boeing Co.’s plan to buy 
McDonnell Douglas Corp. as irrelevant 
to its competition concerns, the Euro- 
pean Commission said Wednesday that 
it was still prepared to block the 
aerospace deal unless Boeing made sub- 
stantial concessions. 

The tough European line appeared to 
signal the start of a furious few weeks of 
commercial negotiations and political 
lobbying on both sides of the Atlantic ■ 
over the proposed $14 billion acqui- 
sition before the European Commission 
gives its verdict at the end of this month, 
officials said. 

On Monday. Boeing presented what 
its executives called “constructive pro- 
posals” to address the European con- 
cerns, which include the size of the 
combined company, the potential 
spillover of McDonnell's defense tech- 
nology and funding into Boeing's com- 
mercial business, and Boeing's recent 
signing of long-term exclusive con- 
tracts with three major U.S. airlines. 

But theEU warning indicated that the 
offer had not satisfied Karel van Miert, 
the European competition commission- 

“What they’ve sent in is not, at this 
' stage, sufficient,” said a source ar the 
commission, the executive agency of 
the 15-nation European Union, who 
spoke on condition he not be identi- 

EU and U.S. antitrust regulators have 
never before come to opposite conclu- 
sions about a major merger. The pos- 
sibility that they could do so over a deal 
affecting aircraft and defense markets 
worldwide has led some officials to talk 
of the potential for a trade war, while 
also raising expectations of last-minute 
concessions that would avoid one. 

In Washington, the Federal Trade 
Commission approved the deal Tues- 
day. saying that McDonnell Douglas 
was “no longer an effective compet- 
itor” in commercial aircraft and had no 
major overlaps with Boeing in the de- 
fense business. 

But in Brussels, officials said the 
commission took a different view of the 
combination and was bound by different 
antitrust rules. 

“The decision by the FTC in no way 
changes the serious doubts of the Euro- 
pean Commission,” the commission 
source said. 

Officials reaffirmed that they were 
demanding that Boeing drop its status as 
exclusive supplier in 20 -year aircraft 
contracts signed recently with Amer- 
ican Airlines, Delta Air Lines and Con- 
tinental Airlines. 

They noted that the Federal Trade 
Commission, describing the contracts 
as “potentially troubling” because they 
represented 11 percent of the global 
market, had said it would monitor 

European antitrust rules, they said. 
See BOEING, Page 14 


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Leftist Seems Poised to Loosen Grip of Mexico ’s Ruling Party 

^ - - .... ■ m errs tti ... * : -I ^ .. .. 

By Molly Moore 
and John Ward Anderson 

Washington Past Sendee 

MEXICO CITY — Cuauhtemoc Cardenas is 
poised to transform Mexican politics. 

With polis showing the leftist opposition can- 
didate enjoying a huge lead, Mr. Cardenas likely 
will become modem Mexico City’s first elected 
mayor in balloting Sunday. 

His victory would be a crippling blow to the 
ruling Institutional Revolutionary Party, known as 

the PRL which has governed Mexico for 68 years. 
It also would be an unmistakable sign of the 
country's march toward multiparty democracy, 
which has existed in name only for much of the last 
seven decades. 

“Hie fact that an opposition party, and one from 
die left, could come to a major national office 
signifies an extraordinary change in the structure 
of Mexican politics, where the president is 
everything,” said Luis Rubio, president of Mex- 
ico’s Center for Development Research. “Now 
that power is going to be curtailed.” 

That may seem to give undeserved status to just 
a big-city mayor. But with the intense central- 
ization of government here and Mexico City’s role 
as the political, financial and cultural heart of the 
country, the mayor — technically, his title will be 
governor — Will be die second most powerful 
politician in Mexico. 

If, us virtually every poll predicts, Mr. Cardenas, 
62. and his leftist Democratic Revolution Party, 
known as the PRD, capture the post — which has 
been filled by presidential appointment since 1928 
— he arguably would be the most powerful op- 

position leader with the most prominent political 
position since the Mexican Revolution. 

Four of Mexico's 31 states are headed by op- 
position governors, but their influence will pale 
next to that of the mayor of Mexico City, who will 
represent about 9 million people and have im- 
mediate access to the nation’s major media. 

He instantly would be a top presidential con- 
tender in the year 2000, with a national stage from 
which to challenge the president and the PRL 

See MEXICO, Page 6 
















The Joys of Summer / Bush-League Baseball 

Saints Thrive by Giving Fans the Unexpected 

By William Souder 

Washington Post Service 

S T. PAUL, Minnesota — 
At 6:53 P.M, on a warm 
spring evening, as the sun 
eases toward the horizon, 
the first member of the home team 
comes out of the dugout It’s a 

With the theme from “Green 
Acres" wafting through the sta- 
dium, the porker, known as Ham- 
let, delivers two saddlebags filled 
with baseballs to the home plate 
umpire, while 6,329 fans — a 
sellout, as always — begin to 
whoop and holler. Up in the press 
box, die radio color commentator, 
Don Wardlow, who is blind from 
birth, leans into the microphone: 
“Live from Midway Stadium, 
it's Sl Paul Saints baseball!” 

Mr. Wardlow, who knows 
everything there is to know about 
baseball except what it looks like, 
is the larest oddity to be added to 
the national pastime as it is prac- 
ticed at the minor league level in 

This is one of baseball's wild- 
est, most entertaining, most suc- 
cessful shows — and for the past 
four years the hottest ticket in 
town. ^At $4 to $7 a game, it’s 
also one of the cheapest) Three- 
time champs of the Northern 
League since its inception in 
1 993, the Saints are co-owned by 
Mike Veeck, who mans the turn- 
stiles and takes tickets at every 
home game, and by his pal and 
fellow baseball nut. Bill Murray, 
the actor. The team’s record so far 
this year is 13-13. But Mr. Veeck 
insists the secret of its success is 
that the team really belongs to its 
fans, who come to this nutty ball- 
park game after game expecting 
the unexpected. 

For $10. you can get your hair 
cut right in the stands during the 
game. For $125. you and three 
friends can watch the game from a 
hot tub in left-center. There is a 
woman who paints faces — she’s 
the one in the blue cape and black 
tights with silver gutter on her 
cheeks. At either end of the main 
grandstand $7 will get you a 15- 
minute massage from Sister Ros- 
alind, St Paul’s famous massa- 
ging nun, or one of her disciples. 

“What the Saints have is 
something that Major League 
Baseball probably can never have 
again,” said Juuan Loscalzo, a 
45-year-old lobbyist who attends 
about 30 games a year. 

“The Saints came to the right 
town at the right time,” he said. 
"They were affordable. People 
wanted outdoor baseball again. 
They wanted to tailgate before the 
game. They didn’t want ushers 
telling them what to do. I guess 
what they wanted was an ana- 

Rollie Jacobsen, a 44-year-old 
department store owner from 
Northfield, a small town an hour 
south of the Twin Cities, said the 
Saints’ on-field success has made 
them “the Yankees of the North- 
ern League.” Mr. Jacobsen is a 
formerTwins season ticket holder 
who regularly attends Saints 
games with his 19-year-old son, 
Dylan, and an array of extended 
family. He agrees with Mr. Lo- 
scalzo that the team's real appeal 

is the air of nostalgia that en- 
velops the game at this level. 

“The Saints.” he said, 
4 ‘provide the type of baseball and 
the kind of atmosphere that seem 
to me like the game my father and 
my grandfather always described 

Saints fans talk about the "in- 
timacy” of Midway Stadium, 
about feeling an almost physical 
connection with die action, and 
about somehow in the process 
getting close to the essence of the 

"We have respect for our 
fans,” Mr. Veeck said "But we 
don’t take just the one-dimen- 
sional view of them that the major 
league teams do. We don't be- 
lieve they come for the game and 
nothing else. My dad always be- 
lieved if you catered only to the 
purists your stadium would be 75 
percent empty.” 

Mr. Veeck ’s father, the whim- 
sical entrepreneur Bill Veeck, 
owned the Sl Louis Browns and 
then the Chicago White Sox and 
is beloved among baseball fans 
for introducing the concept of en- 
tertainment to the game. He set 
off fireworks at the ballfield and 

As Rival Takes Over \ Pre^ure 
Mounts for Corruption J 

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US UUJT.'S PjuI Pkarrr rv— 

Fans can get haircuts during the game, and Hamlet 
the pig delivers a supply of balls to the plate umpire. 

is best remembered for having 
once sent a midget to die plate as a 
publicity stunt. His son Mike, 
who owns parts of four other 
minor league clubs, has inherited 
his father’s flair. 

Most of the Saints faithful be- 
gin partying out in the parking lot, 
where the air before game time is 
a pungent haze of charcoal 
smoke, cigar fumes and beer. At 
the stadium entrance they are 
greeted by a band. Polka, heavy 

metal — it varies. Once, a dozen 
members of the Minnesota Or- 

chestra showed up to play. 

tiles, an 

Just past the turnstiles, an over- 
head bubble machine pumps out 
liquid spheres that glisten color- 
fully in the slanting evening IighL 
The field itself is a beauty, green 
and intimate in this old, quasi- 
industrial section of SL Paul’s 
north side. Behind the fence in 
right-center is the fire fighters’ 
training center, where the Sl Paul 

Fire Department sometimes sets a 
six-story concrete tower ablaze 
during a game, a free show of 
leaping flames and billowing 
black smoke that everyone agrees 
is enormously entertaining. 

And, of course, there’s the 
game. It is played at this level 
mostly by guys who have not 
caught on with a team in a major 
league farm system. (The eight 
teams in the Northern League — 
all in the upper Midwest and 
Canada — are not affiliated with 
major league organizations.) 
There are also a few veterans 
making a grudging exit from 
baseball, as well as some players 
fixing themselves up for a return 
to the bigs. Before he joined the 
New York Yankees last year, 
Darryl Strawbeny played his way 
back into shape with the Saints. 

Over in the broadcast booth, 
the color announcer, Mr. Ward- 
low, and the play-by-play an- 
nounce Jim Lucas, both JJ4^are 
engrossed in that mixof reporting 
and storytelling that is sports an- 
nouncing. The booth is small, 
barely big enough for two folding 
metal chairs and about half of 
Gizmo, Mr. Wardlow’s gentle, 
black guide dog, who sleeps 
soundly in the doorway. 

As Mr. Lucas calls die action, 
Mr. Wardlow riffles through a 
thick sheaf of papers in his lap, 
fingers skimming the Braille 
notations that contain statistics 
and anecdotes. These notes are 
painstakingly compiled in the 
hours before each game — from 
tapes Mr. Lucas records for him 
and from interviews Mr. Ward- 
low conducts with the players. 
They constitute the basis for his 
running commentary. 

Mr. Lucas and Mr. Wardlow 
are from New Jersey and have 
known each other since they 

worked for the Glassboro State 
University radio station. In early 
1990, they put together a 10- 

minute sample tape and sent it to 
every one of the 1 76 professional 

baseball teams in America. They 
got 44 responses. 43 of which said 
no thanks. The other answer was 
from Mike Veeck. 

For the next two years they 
worked for Mi. Veeck’s Pom- 

§ ano Beach Miracle in die Florida 
late League. At die end of the 
1992 season, he fired them. He 
called it a personal favor. “They 
needed to prove they could do it 
without me,” he said. 

M R. LUCAS and Mr. 

Wardlow got a job in 
New Britain, Con- 
necticut, with the 
Hardware City Rockcats. There 
was no salary, only commissions 
on whatever advertising they 
could scare up. They even had to 

buy their own airtime. 

“But nobody wanted to buy 
ads,” Mr. Lucas said, “because 
the team was terrible." 

Mr. Lucas came up with a nov- 
el idea, one they still use. He and 
Mr. Wardlow began selling ads 
on what they called a “pay-per- 
win” basis, where die advertiser 
is charged only if the home team 
is victorious. They immediately 
sold out their available air time. 

After four seasons in Connecti- 
cut, Mr. Veeck hired them back. 

As the game unfolds, the Saints 
slog their way to a one-run lead in 
the fourth, but get careless and 
collapse in the sixth on a pair of 
double steals of home. The fans 
don't have much to cheer about 

“That’s the problem with 
minor league ball,” said Mr. Lu- 
cas after the game. “When it’s 
sloppy, it’s really sloppy." 

By Stephen Kinzer 

Nm York Timajicrrice 

ISTANBUL — Last month; 
Tansu Ciller, who was then 
Turkey’s foreign minister, dis- 
played her characteristic de- 
termination by ' asserting, - “I 
wQi be mme minister soon.” 
But mis week. Mis. Ciller 
was forced to warch as her 
bitter rival, Mesut Yilmaz, be- 
came prime minister instead. 

She also faces- the possibility 

that Parliament may lift her 
immunity from prosecution 
and send corruption charges 
against her to the Supreme 
Court for investigation. 

In a televised interview, his 
first since talcing office, Mr. ' 
Yilmaz pledged that his gov- 

coming follower in _ 

But after ^ ste 

joineda ^gwiaximeait' 

with -the'wkffiire Eftty aafc 

helped propd its. tedder* Nd? 
mettin Erbakan^'to the. post of 
prime ministeriv: ■■■_: 'V ... 

Mr. Er bakan mar te feg fep- 

defeat several motions in Par- 
liament aimed at sending 
charges against her to-ihe/S* ~ 

preme Court for inveatiga- - 

tioo. But the yoteswira^veM 
close, and she has reason to; . 
fear that the results may bf 
different if similar votes are - 
taken again. " . \ 

Several times in the pas$ 
however, Mr; and Mrs. Ciller 
have managed to emerge 
from seemingly crushing rev 
verses. .Despite, their latest 

. §n£ WlOKJ 


the a*? 


-*#es** * ", 

r' .rtuV &■ 


.. 1 

emment “will not remain a 

spectator in the face of cor-' troubles, not everyone herf 
rnption.” discounts their prospects' 

another resurrection. “'f. 

TheCQIers have built a for;-. . 
tune estimated by scone in the 
tens of millions of dollars and’ ' 

Asked if he believed that 
the end had come for Mrs. 
Ciller, be replied: “This is a 
process, and it is accelerating. 
What she has done is clear, 
and it cannot be ignored.Tt is 
now a matter for Parliament 
and the courts.” 

Mr. Yilmaz was able ro 
form his government only be- 
cause he won the support of 
more than two dozen mem- 
bers of Parliament from Mrs. 
Ciller’s True Path Party who 
have turned against her and 
want to help bring her down. 
Some of them have predicted 
that the party will either con- 
tinue losing members or be 
tom by a rebellion against her 

Mrs. Ciller, who was not 
available for comment, has 
steadfastly denied charges of 
corruption against her and her 
husband, Ozer, an Istanbul 
businessman. Many of the 
charges have to do with illicit 
enrichment through the ma- 
nipulation of government 
agencies and contracts. 

Leading Turkish newspa- 
pers reported that prosecutors 
plan to summon Mr. Ciller for 
questioning about- stock ma- 
nipulation, smuggling and 
ties to organized crime. 

Some papers also reported 
that the military had ordered 
immigration officers to pre- 
vent the Cillers from leaving 
the country. The reports could 
not be independently verified. 
This complex of problems 



* jan Da 

peers*. 1 ?* 

by others in the hundreds of 



Kcuch: s? 
Yf, J;ar 

millions. Mrs. Ciller has sail 
her husband is in charge of tbfc 
family finances and that theij; 
fortune was built in part front 
investment of a 52 milling _ 
inheritance from her moiheij. 
But neighbors say the mother . 
died in poverty.- .’ ' 

As the Cillers’: fortune 
grown, so has the number 
their enemies:. They include 
politicians who consider 
them corrupt, human righti 

advocates who say that thefr*- 

marks a sharp turn in fortune 
tie that once seemed 

fora couple 
to have all Turkey at their 
feet When Mrs. Ciller be- 
came Turkey’s first female 
prime -minister in 1993, she 
was acclaimed at home and 
abroad. Since then, however, 
her reputation has plunged. 

Many European leaders are 
still angry with her because 
before the 1995 election, she 
toured Europe appealing for 
foreign support on the ground 
that she was the only figure 
who could prevent the Islamic- 
ori exited Welfare Party from 

encouraged death squads 
gangsters who say that Cillefr 
operatives have moved in o£ 
their rackets. - 1 - *. 

In May, one of the coiinf 
try’s most wanted fugitives 
Aiaattin Cakici, telephoned 
an Istanbul television staliog 
from a hideout to complain, 
that the Cillers and their ‘ ‘wa^ 
terfront mansion gang” werfc 
trying to extort $20 million 
from him in exchange for all- 
lowing him to buy a govem;- 
ment-owned bank. 

Mr. Cakici issued several 
threats against Mr. Ciller, and 
vowed to “destroy the. wa- 
terfront mansion gang or die 

Hie day after Mr. Cakici’s 
interview, gunmen shouting 
“You will pay for this!” shot 
up the Istanbul studio of the 
station that broadcast it. 

The police have not solved 
the case. In a letter to the sta- 
tion's owner, Mrs. Ciller saidi 
“I strongly condemn and de- 
plore this dastardly attack.” 

•f r -:e are t 
Ms. Da' 


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! tore a 

A French Nod to the EU 



PARIS — The cabinet ap- 
proved a bill Wednesday that 
would allow nationals from 
EU countries living in France 
to vote and run in municipal 
elections, os called for by the 
Maastricht Treaty. 



Northwest and KLM Break Pact 

A Cross- Channel Pigeon Race 
Turns Deadly for Birds in Rain 




AMSTERDAM ( AP) — Northwest Airlines will stop joint 
ticket sales with KLM Royal Dutch Airlines on Aug. I, a KLM 
spokesman said Wednesday. 

Relations between KLM and Northwest have been strained 
by a Northwest shareholders’ rights plan that caps KLM’s 
stake. The Dutch carrier, which has a 19.5 percent voting stake 
in the U.S. carrier, is currently suing Northwest for $150 
million in compensation. 

" American Urges Use of Child Seats 

WASHINGTON (AP) — American Airlines on Wednesday 
offered half-price tickets for children two years old and under 
in an effort to encourage parents to use child safety seals. 

Children of that size are often carried in parents ’ laps, where 
they do oot need a ticket But that is unsafe in die case of an 
accident or if the plane encounters turbulence, said Robert 
Baker, the airline’s vice president for operations. 

Parents would have to supply their own child safely seat, 
Mr. Baker said, adding that most of the seats used in auto- 
mobiles were suitable for airline use. 

The National Transportation Safety Board, reporting on 
the collision of two commuter planes on a runway m Quincy, 
Illinois, lasr November, in which most passengers survived 
the impact but died in a subsequent fire, has recommended dial 
the Federal Aviation Administration find ways to fund fire and 

rescue crews at small airports served by small planes. (WP) 

Flight attendants at British Airways on Wednesday 
welcomed prospects of new talks with the airline to try to avert 
a strike plained for next week. (AP) 

Agenee France-Presse 

PARIS — Tern of thou- 
sands of homing pigeons are 
feared to have perished after 
being caught in tonential 
storms during a cross-Chan- 
nel race from France to Bri- 
tain, an organizer said 

But Laurent Toussaint said 
reports that up to 80,000 birds 
may have died were exagger- 
ated, since many of die birds 
may have stayed over France 
and would return to their 
roosts in coming days. 

He said 60,000 started the 
race Sunday morning, com- 
pared with a planned partic- 
ipation of 1 00,000, after some 
owners pulled their birds out 
because of the foul weather. 

“And of those, some 30-40 
percent are perhaps still in 
France, those which didn’t 
leave straight away because 
of the weather or who were 
disorientated by a magnetic 
front,” he said. 

The Times of London re- 
ported that up to 80,000 pi- 
geons may have died in the 
race between Nantes and Bri- 

tain to celebrate the centenary 
of the British Racing Pigeon 

The race had already been 
postponed for a day because 
of the bad weather that has 
plagued both Britain and 
France in recent weeks. 

“The rain weighed down 
their feathers and if they 
didn't fall before they got to 
the Channel, they drowned in 
the sea, ’ ’ a pigeon fancier was 
quoted as saying. 

But Mr. Toussaint, who 
was responsible for monitor- 
ing the race rules,- said many 




Be ran 

Comb Del Sal 





Lea Palmas 



: pigeons were appar- 
ently confused from the start 


Sunday by a “magnetic 
front,” and may therefore not 
have set out over the Chan- 

Mr. Toussaint said he could 
not comment on protests in 
Britain that foe race should 
not have started in foe first 
place. He said British pigeon- 
racing organizations released 
birds in Nantes every week, 
while admitting that Sunday’s 
release was under “excep- 
tional” weather conditions. 






9 Priaubug 








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1961 11/6? an 
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27*80 1981 pc 
28784 18/64 Bft 
2979 17/621 
97780 17*52 C 
27780 16*81 pc 
21*70 11/62 r 

High Law W 
29/71 1981 a 
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37/80 946 a 
33/51 24/75 a 
20768 12783 pc 
3997 IMS a 
23T73 13/55 pc 
1981 10750 r 
33*91 21/70 s 
20*68 1 UE2 3ti 
9977 16761 a 
17/82 8748 c 
1084 10*50 e 
(287B2 1981 pc 
2477S 12/53 pc 
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21/TO 77*62 s 
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i960 1981 pc 
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Forecast lor Friday through Sunday, as provided by ftccuWeather. 



North America Europe 
Hoi and dry weartier with Windy, damp and cool 
plenty oi sunshine will weather wot continue over 
encompass much oi the much of the British isles, 

■ •z — — 

West. A strong storm )n France and Germany, 
southeastern Canada mil wtrie abnormal warmth will 

bring showers and ihun- persist over southeastern 
dersiorms lo the East on Scandinavia, the Ukraine 
Friday and Saturday, then and western Russia 
cooler ar wiR titter mlo the through Sunday. Showers 
nordwastem United States and thunderstorms are 
lor the end of the weekend likely from Poland south- 
ward to northern Italy. 


Soaking rain win persist 
across aoutn-centraf 
China, while nonhem and 
weslern China bakes 
iJKJer sizzling sun. Strong 
thunderstorms erfl traverse 
northeastern China and 
northern Japan Friday 
through Sunday. Partly 
sunny with a thunderstorm 
in Tokyo. Humid wnh some 
showers In Hong Kong. 


Maw Den 

PTmotn Penh 










Mgh iww 

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. , Oklahoma 

ish Shift _ : • . 

■*•1 By Lois Romano 

^ . . Washington Post Service 

* Over, /W OKLAHOMA CITY - A sc- 
* '’41 S rent, sweeping design by three 
rrim/i/in n young architects has been unveiled 

ft Ur^JllUIl Mfyi as. the, winner of an international 

. f . - for a Dermanent monn- 

Unveils Design for a Bombing Memorial 

{ " By Lois Romano fean clabcKaiMaw^re, $24 nul- 

• 1k» cOTrole* that will include the 

- — — ■ . — — _ manorial, an interactive museum to 

OKLAHOMA CITY — A sc- telltbesttay of those affected by the 
O', rent, sweeping design by three bombing and an institute to stndy 
young architects has been unveiled terrorism. 

. ^ the winner of an international . The Oklahoma City Foundation, 
ȣ ^mpetitiQP for a permanent moan- formed to spearhead the project, 
^tmthevicmDsaiKisnivivars Qf hopes to break ground within a year 
the 1995 bombing here. and to complete construction within 

Is most dramatic feature is ex-, two. The money, including $8 mil- 
■pecosd to the. 168 stone and glass lion for die memorial, will come 
fftarra , which will occupy the space from federal, stale, city and private 

comm" * j n. meni"^ or * lj f ,u * olju,ouirl '» uia vu «wy» wiuuuny«u 

H * f •: i _• t&e 1995 bombing here. and to complete constructioa within 

wunAi \ L ' ; Is most dramatic feature is ex- two. The money, including 58 nril- 

wi»h !h v\ l , :i : '■ -n -pec»d to the. 168 stone and glass lion for die memorial will come 

? 5“ , ' v : : : Sbbs, which will occupy the space from federal state, city and private 

nviKm rv Where the Alfred P. Murrah Federal funds. Former Defense Secretary t1 - s - •' ^g^dingonce stood. Each chafr will " Dick Cheney, now chairman of the 

1* flluminated from beneath and Dallas-based Halliburton Co., will 
>ir. *« r ‘'.:r..::. . ^ the name, of a victim of the head the fund-raising effort. 

7*. c -w/cast act of terrorism committed on A 15-member committee, a ma- 

e the Alfred P. Mrarah Federal 
Ung once stood. Each chair will 

funds. Former Defense Secretary 
Dick Cheney, now chairman of tire 

' Mr. Erb.:r 

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_ Local officials, loci: 
.hei^s ..governor; 'H5 

A 15-member committee, a ma- 
jority of whom are survivors or rela- 
tives of victims . nf the^ast, uoaor- 
imously selected the memorial 

gaihered Tuesday in front of the. design by the team of Hans-Ekke- 
now -grassy site to announce plans hard Butzer. his wife, Torrey. and 

Sven Berg, all Berlin-based archi- 
tects in their 30s. 

The architects, whore design pre- 
vailed over 624 entries in die com- 
petition, clearly understood that 
emotions were still raw and tried to 
satisfy all their constituencies. • 
‘There are so many aspects to 
what has happened in the bombing 
and we wanted to address each and 
every one of them,” Mr. Butzer 
said. ‘The most important element 
'was to convey the impact of the loss, 
but we wanted everybody — sur- 
vivors, rescue workers — to find 
their place and be comfortable.** 
The centerpiece of the area ded- 
icated to the survivors is an elm tree 
that burned and lost all of its leaves 
•in— fie- explosion- ■-¥' bnf lived. 
Known as the Survivors 1 Tree, it 
will be surrounded by a circular wall 

dial likely will be inscribed with the 

names of survivors. An orchard of 
fruit trees will honor the rescue 
workers, and there will he a special 
area with large chalkboards for chil- 
dren to record their thoughts. 

: A shallow reflecting pool 
bordered by trees will replace a 
block of Fifth Street, a few feet from 
where Timothy McVeigh, who was 
condemned to death last month, det- 
onated a Ryder truck stuffed with 
explosives on April 19, 1995. At 
each end of the pool will be a gate, 
one etched with the time “9:01,” 
tiie other with “9:03” — the mo- 
ments before and after the bomb- 

Mr. Butzer said the empty chairs 
were intended to send a powerful 
message of the number of fives lost 
The chairs — with smaller ones 
representing the 19 children killed 
— will be aligned in nine rows to 

represent the nine-story building. 
Each row will contain chairs cor- 
responding to the number of people 
kilted on each flora-. 

While visitors will be able to sit 
on the chairs, Mr. Butzer said, the 
architects hope to encourage them to 
first “take a moment to decide 
where they are in the healing pro- 

There is a bill pending in Con- 
gress to classify the site as a national 

Mr. Butzer, who is American- 
bom, his wife, an Oklahoma native, 
and Mr. Berg, a German, plan to 
relocate to the United States to re- 
fine the plan and ove« , see the ex- 
ecution of their design. 

The three have worked together 
on various projects overseas. They 
and four other finalist teams each 
received prizes of $15,000. 



Indians in California Search 
For Official Recognition 

Jerri Davis tired long ago of hearing 
people like the woman on a bus in Oak- 
land, California, who, when asked if she 
thought sprats teams should be named 
afwmdians, replied: “What’s the point? 
Here are no Inmans left” 

- Ms. Davis is a Porno Indian. Her an- 
cestors were die first Californians. After 
centuries of suffering that nearly wiped out 
the state’s Indians, they have returned. 
Stffl, like Ms. Davis, they sometimes feel 

In California, there were about 350,000 
Indians when the Spanish established then- 
first mission in 1769, reports The Sac- 
ramento Bee. By 1900, disease, war and 
genocide had. ..reduced— ther number to 
HS?D00. But today there are about 320,000, 
more than in any other state. Nationwide, 
there are more than 1 .5 million. 

The numbers, however, are subject to 
debate. Ax least 75.000 California Indians 
from 80 tribes are non-Indians in gov- 
ernment eyes. California has 36 tribes 
fighting fra official recognition, and with 
^federal benefits. It is a glacial process: 
The federal Bureau of Indian Affairs has 
recognized one tribe in 19 years. Federal 
funds are also based largely rat tribal land 
holdings, and California Indians are the 
most land-poor, and thus poverty-stricken, 
in America. " 

There are, however, signs of renais- 
sance In California and elsewhere. Tribes 

are reviving folk dances, languages, heal- 
ing arts and land-use techniques in an 
effort to restore pride and ensure self- 
reliance. The ones who survived are really 
survivors, said Ernie Stevens, an Oneida 
Indian leader from Wisconsin. In them is a 
spirit that cannot be quenched. 

Short Takes 

Want to know what's hot? Ask the 
police. Thieves, it appears, are incredibly 
attuned to fashions. In the Los Angeles 
area, fora savvy thieves entered a shop and 
took $50,000 worth of -cigars — rally the 
honest-selling brands. Laptops are being 
lifted right and left The FBI recovered 15 
Harley-Davidson motorcycles on a Carib- 
bean isiaod, apparently beaded fra Eastern 
Europe, where they fetch twice the U.S. 
sticker price.- Designer jeans have been 
hijacked for resale in Japan, and leather 
coats diverted to Russia. Is there no end? 
Apparently not, reports the Los Angeles 
Tunes. A load of the much-sought-after 
dolls known as Beanie Babies — street 
value. $10,000 — recently vanished. 

Teenage Moms Stay Jobless 
Despite Aid, Study Shows 

A church in Putnam County, West 
Virginia, wants to help strippers find 
new careers. The Lighthouse Baptist 
Church, in the town of Hurricane, plans to 
set up a trust fund to provide income, 
health insurance, day care and free job 
training fra the women. At least one strip- 
per found the offer insulting. “I'd rather 
keep my job here,” said Amanda Rice, 
who works at a club called Lady Godiva’s. 
“I don't see anything wrong with being a 
dancer.” But Lady Godiva’s owner, Calv- 
in Lavender, favors the plan. ‘ 'If they want 
to help the girts better themselves,” he 
said, “I'm all fra it” The church has set a 
fund-raising meeting fra July 20. 

Brian Knowlton 

By Barbara Vobejda 

Washington Post Service 

of the nation’s best-funded 
p rogra m s fra disadvantaged 
. teenage mothers has foiled to 
improve their chances of be- 
coming self-sufficient, ac- 
cording to a rigorous study 
carried ont over several years 
that was issued Wednesday. 

The study found that teen- 
agers enrolled in the program, 
called New Chance, were no 
more likely to find a job, leave 
welfare or avoid having an- 
other child than young moth- 
ers who had not received its 
intensive services. 

Three and a half years after 
they entered the program, 
about 75 percent of the young 
women were receiving public 
assistance, 28 percent were 
working and three quarters 
had become pregnant with an 
additinnal child. 

The findings offer more 
evidence that improving the 
lives of the nation* s most dis- 
advantaged families is ex- 
traordinarily difficult, and 
even the most intensive pro- 
grams have little effect in 
counteracting the powerful 
forces at work in poor com- 
munities. 9 

The research also has im- 
portant implications for the 

. ' .— -.IV 

•; --ftj ft. 'j, 

Away From Politics l 


• The man charged with killing two CIA employees in a c 
1993 shooting spree outside the spy agency will stand trial in c 

November in a courtroom without cameras, a judge ruled. Mir 

Aimal Kami faces a possible death penalty. (AP) tl 

• Seven security and baggage workers at La Guardia 
Airport in New York stole hundreds of thousands of dollars 5* 
from suitcases that drug traffickers carried through the Amer- D 
ican Airlines terminal in the last two years. The workers singled ® 
out passengers they thought likely to be couriers. (NYT) “ 

• Flint Gregory Hunt, 38, whrilplled a police officer in 1985, b 

was executed by injection in Baltknore. (AP) a] 

i . . >, . , r-.-. »vi- — : ■-* ? ; i r r- .V 

I I l |- . l J t 1 1* M« • p‘ 1 • 

new welfare system, since 
half of the 4 million adults on 
welfare had their first children 
when they were teenagers. 
The new welfare law will not 
let recipients stay on the rolls 
longer than five years during 
their lifetimes, so figuring out 
how to change behavior is 
critical to its success. 

The study results, made 
public by the Manpower Re- 
search and Demonstration 
Carp., a New York-based re- 
search organization that also 
designed the aid program, 
were disappointing because 
New Chance is considered 
among tire most elaborate and 
comprehensive of its kind, 
operating in 12 cities around 
the country. The program 
spent about $9,000 pra moth- 
er, showering them with edu- 
cation and training, c hild 
care, parenting classes, health 
care and co unseling . 

The program did increase 
the likelihood that the teen- 
agers would receive a high 
school equivalency degree, 
but it did not increase their 
Mining s compared with other 
teenage mothers, nor did the 
program help their children 
become any more academic- 
ally prepared for preschool 


RidHnl StmvnUSThc AkwmusJ Pi*» 

LEGEND — Rosa Parks, 84, whose refusal to 
move to the rear of a bus in Montgomery, Ala- 
bama, ignited the civil-rights movement, reading 
In Detroit from a children’s book she wrote. 

Aide Quits Fund-Raising Probe 

WASHINGTON — The chief counsel to the House 
committee investigating Democratic fund-raising prac- 
tices has abruptly resigned after repeated clashes with the 
committee's top investigator. 

The counsel, John Rowley 3d, said in a letter to the 
chairman of the House panel, the Government Reform 
and Oversight Committee, that he had "not been given 
the authority necessary to accomplish the committee’s 

Mr. Rowley's letter criticized the committee's top 
investigator, David Bossie. "Due to the unrelenting ‘self- 
promoting’ actions of the committee's Investigative Co- 
ordinator,” it said, “I have been unable to implement the 
standards of professional conduct I have been accus- 
tomed to at the United States Attorney's office.” 

Before joining the committee in February, Mr. Rowley 
was an assistant U.S. attorney for the Eastern District of 

Mr. Bossie. who is not a lawyer, has spent the last few 
years trying to discredit President Bill Clinton. He joined 
the House panel after serving as an investigator on the 
Senate Whitewater committee. (NYT) 

Quote/ Unquote 

Paul Gaik, spokesman for Senator Fred Thompson’s 
Governmental Affairs Committee, which is soon to open 
public hearings on Democratic fund-raising, on the White 
House tactic of the preemptive release of damaging 
information about itself: * ‘It’s unfortunate for us. They’ve 
clearly tried to minimize the impact of all this bad news. 
It takes away the surprise from any hearing. We want to 
keep our powder dry, and present it to the American 
people all at one time. ” (WP) 

In a year’s time 

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Hong Kong’s New Leader Reaffirms Pledge on Freedoms and Electii 

GwipiW by Out 5&g From 

HONG KONG — Tung Chee-hwa, in 
his first news conference as Hong 
Kong's new leader, gave fresh assur- 
ances Wednesday about Hong Kong’s 
freedoms and again pledged to holdelec- 
tionsby raid- 1998. 

The territory, which came under the 
Chinese flag Tuesday, “will have a high 
degree of autonomy for a long, long, 
long time,’' Mr. Tung said. Under terms 
of the handover, the former British 
colony will maintain its capitalist system 
and way of life for 50 years. 

Facing 400 foreign and Hong Kong 
journalists, the 60-year-old shipping ty- 
coon fielded questions for an hour in 
English, Canronese and Mandbrin. 

Appearing relaxed and affable, he 
sidestepped a few sensitive questions, 
such as whether legal action would be 
taken against democracy militants who 

defied the government and made hand- 
over-night protest speeches from the 
balcony of the legislative building. 

Hong Kong's elected legislature was 
replaced by a body set up by China. Mr. 
Tung on Wednesday again promised 
elections by June 30, but declined to 
specify the month. 

Asked how Hong Kong’s 63 million 
people and mainland China’s 1.2 billion 
can trust each other, Mr. Tung said Hong 
Kong must “get to know our own coun- 
try tetter” but shouldn’t feel obliged to 
“humor or accommodate" China. 

“There will be conflicts, and obvi- 
ously they will need to be talked through 
in cider to make sure that oar interests 
are looked after," he said. “But the 
important thing is that our long-term 
interests are very similar.” 

The new government’s tolerance of 
dissent was tested Tuesday when 3,000 

protesters marched on a main thorough- 
fare demanding more democracy. Police 
did not interfere; in fact, they carefully 
cleared traffic so the march could pro- 

“Would I do it this way? Obviously 
not,” Mr. Tung said of the protest, “I 
would have thought of a better way of 

But he added that demonstrations, 
“so long as they are lawful,” will be 

It became clear on Wednesday that six 
Hong Kong police inspectors resigned 
just before me handover because they 
feared being ordered to violate human 
rights. “In view of things like the June 4 
event, we don *t want to serve the Special 
Administrative Region,” CbikKi-wai, a 
former senior inspector, said. 

He was referring to Beijing’s crack- 
down on the student-led Tiananmen 

Square demonstrations in 1989. Every 
year since then, thousands of Hong Kong 
people have taken part in open-air vigils 
on June 4 in memory of the victims. 

China’s president, Jiang Zemin, 
sought Tuesday in a nationally televised 
speech to hold up Hong Kong as a model 
for Taiwan if it, too, returns to Chinese 
rule. Beijing hopes success in Hong 
Kong will lure Taiwan’s rival Nationalist 
government into talks on reunification. 

Wednesday was the last day of a five- 
day handover holiday in Hong Kong, 
and was supposed to have featured a 
final burst of open-air festivities. But a 
planned procession of floats was can- 
celed due to rain storms. 

Hong Kong’s financial markets will 
pass their verdict on the post-colonial 
economy when they reopen on Thurs- 
day. Brokers said die only immediate 
cloud was Mr. Tung’s comments on 

reining in runaway property pnres. 

• ‘There are expectations that the mar- 
ket will rally and that Chinese money 
will enter the market so that it close 
higher under the new flag,” said Frank; 
lin J-am, director of research at 5 dL 

The market wound up its final trading 
day under British rule last Friday at a 
record high. 

Business leaders expressed confi- 
dence that nothing would change under 
Chinese rule. “We’ll be opening for 
business on Thursday exactly as we 
dosed on Friday,” William Pirrves, a 
Hong Kong Bank executive, told Cable 
News Network. 

Economists greeted Mr. Tung’s 
promises to make Hong Kong’s econ- 
omy more competitive, partly by up- 
grading its technological base, with 
some skepticism. 

In its second day of Chinese 
ereignty, Hong Kong was undergo 
in ways large and small that a new 

has begun. . 

With Foreign Munster Qian 
of China looking on, Mr. Tang p _ 
medals to a dozen people for service 

Hong Kong. „ .. 

Only three days ago, similar 
were bestowed by Britain, the 
power for 1 56 years. 

Recipients, honored for, 
things, fostering “alovel 
eriand," included Elsie Tu; 83, 

Iishwoman once the bane of the cofinial. _ 
government for her crusades on behafiof gg 
Hong Kong’s poor. 

Another recipient was Heniy Fak ,r_-; 
Ying-tung, a business and real estate 
tycoon who was cold-shoulde red 
cades by the British as a Communist '■ ; 
sympathizer. (AP , Reuters} ^ ■ 

Oil Slick Fouls Tokyo Bay 

Tanker Accident Unleashes Nation’s Worst Spill Ever 


The Associated Press 

YOKOHAMA, Japan —In 
Japan’s worst oil spQj ever, a 
supertanker damaged its bull 
in Tokyo Bay's shallow wa- 
ters Wednesday and dumped 
13,400 tons of crude into the 
country’s busiest port 

The spreading slick, at 
least five kilometers (three 
and a half miles) in diameter, 
was drifting north toward 
Tokyo, and the authorities 
feared it could hit fishing 
Bounds near the coastline by 
Thursday. More than a dozen 
people — mostly children — 
were sickened by the fumes. 

“Hus is the worst oil spill 
Japan has ever experienced,” 
Transportation Minister 
Makoto Koga told a govern- 
ment task force set up to deal 
with the accident. 

Despite the size of the spill, 
it was a fraction of the 11 
million gallons of oil un- 
leashed by the Exxon Valdez 
in Alaska in 1989. 

The 147.000-ton, Pana- 
manian-registered Diamond 
Grace ran aground Wednes- 
day morning 35 kilometers 
(22 miles) southeast of Tokyo, 
just off the coast of Yoko- 
hama. The leaking stopped 90 
minutes after the accident, and 
the tanker moved to Kawasaki 
to be emptied. 

Dozens of ships were mo- 
bilized to clean up the spill 
and slow the oil’s advance. 
Workers spread absorbent 
mats on the slick or scooped It 
up with barrels, buckets and 
ladies, while helicopters 
sprayed dissolving agents on 

“The most important thing 
for us to do now is to limit die 
extent of the spill,” said Shi- 
gehiro Sakamoto, head of the 
emergency task force. “We 
are putting all of our re- 
sources into that” 

The accident was being in- 
vestigated, and local fisher- 
men wondered how the nav- 
igators of such a huge tanker 
could have misjudged the 
well-known contours of the 
busy bay. 

of a fishing boat in the bay, 
said that part of the bay was 
usually crowded with ships, 
“so the tanker might have 
been trying to move out of the 
way of another ship when it 
ran aground.” 

It was uncertain how the 
spill would affect business in 
me bay. Despite die slick and 
the heavy odor of oil wafting 
over the water, the bay was 
full Wednesday of fishing 
boats and other vessels. 

Also unclear was how the 

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slick would affect life as it 
neared Tokyo and neighbor- 
ing Chiba — home to nearly 
■IS million people. 

Fifteen people, including 
13 children, were nauseated 
by the strong oil odor and 
hospitalized, but none was se- 
riously ill. No more illnesses 
were reported and officials 
said the smell had abated. 

The greatest immediate 
threat seemed to be to the 
bay’s fishing grounds. Yoko- 
hama port is heavily indus- 
trialized and oil storage fa- 
cilities dot the coastline, but 
towns that depend on the 
bay’s fish stocks — which 
feed the coon try’s biggest 
metropolitan area — ring the 
bay as well. 

The spill was the second 
major oil accident in Japan 
this year. In January, a Rus- 
sian tanker split and sank in 
the Sea of Japan off the west- 
ern coast, spilling 4,080 tons 
(1.2 million gallons) of fuel 
oil and fouling hundreds of 
kilometers of shoreline. 

According to figures 
provided by the Maritime 
Safety Agency, Wednesday’s 
spill dumped nearly twice as 
much oil as Japan's previous 
worst spill, in 1974, when 
6,800 tons poured from a stor- 
age Bilk in southwestern Ja- 

The Diamond Grace with 
its 25-member crew was en 
route to Kawasaki from a port 
in the United Arab Emirates, 
carrying 257,000 tons of 
crude oiL i 

The Kyodo Nevis agency 
reported that the tanker 
scraped a reef in shallow wa- 
ters, tearing holes in oil tanks 
near the starboard bow. Of- 
ficials were questioning the 
captain, Kyodo said. 

Mr. Sakamoto, head of the 
government task force, said 
three tanks were damaged, 
but only two of them held oiL 
He said officials were inves- 
tigating exactly what the 
tanker hit. One of the gashes 
was three meters long. 

m im 




David BrauddVTSc A**odoted ftew 

RAIN ON THE HANDOVER PARADE — A Chinese woman in Hong Kong 
fending off the rain with fans while awaiting another handover celebration. 

Taiwan Political Brawl 

TAIPEI — Taiwan’s inflammatory pol- 
itics erupted anew Wednesday when male 
and female Lawmakers kicked, shoved, 
punched and wrestled one another during a 
session of the National Assembly. 

Two deputies were hospitalized, one 
with a serious head wound, in the worst 
brawl so far in the three-month -old ses- 

The melee started when opposition New 
Parly deputies rushed the podium to block 
discussion of constitutional amendments 
introduced by their Nationalist and Demo- 
cratic Progressive Party foes. 

The New Party has been largely cutout of 
negotiations on amendments that would 
redefine Taiwan’s governmental structure. 

The assembly, which has a reputation for 
brawling, has had only a couple of minor 
scuffles this year. (AP) 

Papua Talks Scheduled 

WELLINGTON — Talks aimed at end- 
ing the secessionist war on Papua New 
Guinea’s Bougainville Island will begin 
this weekend in New Zealand, Foreign 
Minister Don McKinnon said Wednesday. 

Mr. McKinnon said in a statement that 
the meeting would bring together senior 
members of the Papua New Guinea-backed 
Bougainville transitional government, the 

Bougainville interim government and its 
military wing, the Bougainville Revolu- 
tionary Army. (Reuters) 

Afghan Loss Is Denied 

KABUL — Afghan opposition forces 
denied a report Wednesday that they had 
lost control of the northeastern town of 
Taloqan. headquarters of the ousted pres- 
ident, Burhanuddin Rabbani, to the Taleban 
Islamic militia. 

A spokesman said that Taleban forces 
“are neither in Taloqan nor anywhere else 
in Takhar province. *’ (Reuters) 

6 Koreans Are Indicted 

SEOUL — Six South Korean students 
were indicted on manslaughter and other 
charges Wednesday in the beating death of 
a factory worker during last month’s violent 
student protests. 

The worker, Lee Seok, 23, died June 4 of 
internal bleeding after he was beaten at a 
university campus in Seoul by students who 
suspected he was a police informer. 

Prosecutors were searching for 15 other 
student leaders. 

A nationwide group of student activists 
admitted that Mr. Lee was beaten, but its 
leaders refused to turn themselves in for 
questioning. (AP) 

‘Fodder Scam’ Hits 
Coalition in India 


New York Times Senice fone but playing a key role in m 

NEW DELHI — Barely 10 selecting the new leader, : 7 

weeks after Prime Minister In- On the most recent occa-- 

der Kumar Gujial took office sion, in April, Mr. Gujral, 77, 
with a pledge to provide India relied heavily on Mr. Yadav’s 
with “clean government,” he backing. The alliance arose 
is struggling to hold his co- from the fact that Mr. Yadav ■ 
alition together in the fece of a is national president of the 
corruption scandal that could Janata Dal. toe centrist polit- 
send one of his most powerful ical party to which Mr. Gujral 
aHies to prison. belongs, and which forms the 

with “clean government,” he backing. The alliance arose 
is struggling to hold his co- from the fact that Mr. Yadav 
alition together m the fiace of a is national president of the 
corruption scandal that could Janata Dal. toe centrist polit- 
send one of his most powerful ical party to which Mr. Gujral 
ante s to prison. belongs, and which forms the 

“Fodder scam,” so-called largest component in the 
because it involves vast herds shaky 14-party coalition, 
of fictitious livestock, has In April, the Central Bu- 
stirred widespread concern, reau of Investigation named 
even in this country, which is Mr. Yadav, the Bihar chief 
weary of political corruption minister, as one of 56 people 
and scandal investigations that it intended to prosecute for 
rarely result in convictions. fraud in the fodder scam. 

One reason is that the scan- Mr. Gujral attempted to 
dal, said to involve $285 mil- persuade Mr. Y adav to resign 
lion, occurred in one of the as Bihar's chief minister and 
country's poorest regions, the as Janata Dal president, but , 
northeastern state of Bihar. Mr. Yadav refused to quit and 
The money, which is reported threatened to order Janata Dal ' 
to have teen stolen over legislators from Bihar to . 
nearly 20 years, came from withdraw their support of the 
agricultural supportprograms government. 

aimed mainly at helping the On Monday, Mr. Gujral an- , 
350 million Indians who live nounced that he had fired the ' 
in extreme poverty. director of the Central Bureau 

According to indictments of Investigation, Jogjnder 
in the case, politicians and Singh, for what Mr. Gujral 
senior officials in Bihar in- described as incompetence, 
vented phantom livestock Opponents charged that the 
herds, then made fraudulent prime minister had acted to 
payments for fodder and knock the prosecution of Mr. . 
medicine for the animals, as Yadav off course, but Me. 
well as for artificial insem- Gujral said he was forced to 
illation equipment act because of the oranc be- 

Tbe politician accused of havior by Mr. Singh in an- ' 
being at the bean of the scam, pouncing .prosecutions before 

Laloo Prasad Yadav, won 
power as Bihar's chief min- 
ister, or head of government, 
by presenting himself as a 
champion of the low-caste 

He has denied the allega- 
tions. and threatened to stir up 
political violence if he is ar- 
rested. The government in 
New Delhi has dispatched ex- 
tra troops to Bihar while it 
ponders its next move. 

In the last year, when there 
have been four governments 
in New Delhi, Mr. Yadav has 

investigations were complete. 

In weighing his choices 
now, Mr. Gujral will have to 
take account of Mr. Yadav’s 
threat to ignite political vi- 
olence if the prime minister 
dismisses the state govern- 
ment and imposes direct rule 
from New Delhi, and of the 
risks to his own government, 
since Mr. Yadav’s threats to 
withdraw support have teen 
countered by warnings from 
Communists in the coalition 
that they may withdraw their 
backing if he is not removed. 



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118 Kohl Feels New Pressure Over NATO 


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BONN — Chancellor Helmut Kohl 
came underpressure at home Wednesday 
to back Romania and Slovenia for NATO 
membership ahead of the alliance’s sum- 
mit meeting in Madrid next week. 

A leader of the opposition Social 
Democratic Party called on Mr. Kohl to 
make up his mind on whether NATO 
should invite three or Five Central Euro- 
pean states to join, while diplomatic 
sources in Bonn said the chancellor was 
in the barui f.j -'iy being urged to endorse Romania and 

aw for her cru ■*.!• • ! ! ' v $ Slovenia. 

The Czech Republic, Hungary and 
Poland are expected to be invited to join 
ibe North Atlantic Treaty Organization 
in a first wave of enlargement. 

While the United States wants to limit 
the first enlargement to those three, 
many European NATO members want 
Slovenia and Romania included. Ger- 
many. whose voice could be decisive, 
has remained noncommittal. 

Because of its sensitive position at the 
heart of Europe, Bonn has avoided the 
public debate about which candidates it 
wanted to see invited to join the first 
wave of new members. 

Germany’s foreign-policy establish- 
ment wants to limit the initial intake to 
the three prime candidate countries, but it 
also wants to avoid having to say “no" to 
other Central European countries in ways 
(fiat humiliate them, diplomats said 
Bat this discreet approach proved un- 
tenable in recent months, after President 
Jacques Chirac of France came out in 

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support of the candidacies of several 
countries, including Romania. 

The French campaign put Germany 
under potentially embarrassing pressure 
to declare its own preference, even at the 
risk of distressing Ro mania and several 
other countries mat aspire to eventual 
membership, the diplomats said. 

To cut the speculation short, Wash- 
ington signaled its readiness two weeks 
ago to block attempts to enlarge the first 
NATO intake beyond the twee prime 
candidates — a stand that came as a 
relief to Bonn. 

Now that it is clear Romania and sane 
other countries cannot expect earfy mem- 
bership, diplomats said the Kohl gov- 
ernment can stress its support fa the idea 
that NATO must keep the door open for 
such countries as Romania and Bulgaria. 

In the meantime, the flare-up of polit- 
ical debate in Bonn is a politically pain- 
less exercise, a U.S. official noted, be- 
cause * ‘now the Europeans can say, ’We 
wanted yon but Washington black-, 
balled the idea.’” . 

Meanwhile, President Emil Con- 
stantinescu of Romania was due to meet 
Mr. Kohl in Bonn in a last ditch attempt 
to elicit support from Europe’s largest 
NATO member. 

The Social Democratic Party’s foreign- 
affairs spokesman, Guenther Verheugeo, 
said on SWF radio that Romania and 
Slovenia were deserving candidates; and 
he warned die government not to allow 
Ranee’s and the United States' conflict- 
ing views to influence its policies. 

“We are talking about European, not 
American, NATO expansion,’’ he said, 
“and when the most important Euro- 
pean NATO member fails to take a view 
on what this expansion should look like 
in the end, then our foreign policy is at a 
deplorable low. 

“When Kinkel tells the German Par- 
liament. ‘We are happy with three, four 
or five new members’ — this is nothing 
but poverty of conviction of the worst 
possible kind,” Mr. Verbeugen said, re- 
ferring to Foreign Minister Klaus 
Kinkel’s remarks at a parliamentary de- 
bate on NATO last week. 

The United States offered a measure 
of encouragement to potential members 
on Wednesday, saying “the question is 
not whether, but when’’ they would be 

“We need some more time working 
with Romania and Slovenia,” said 
Sandy Berger, President Bill Clinton’s 
national security adviser. (Reuters, AP) 

■ Solana Won’t Set Dates 

The NATO secteCary-geoeral, Javier 
So kna Madariaga, declined Wednesday to 
say when coumries excluded from die first 
wave might be allowed to join, Agence 
Franco-Ftesse reported from Brussels. 

“It would not be wise to fix dates 
because Europe is developing at such 
speed that we cannot predict the future,” 
Mr. Solaria said in an interview with a 
Belgian newspaper, Le Soir. 

Romania “is a valid candidate that 
deserves entry into NATO,” he added. 

World Bank Halts 
Loan for Croatia 

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Berisha Aides Said to Depart 

Albanians See Trips Abroad as Clue on President 

By Jonathan C. Randal 

Washington Post Service 

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TIRANA — Two of Pres- 
ident Sali Berisha’s much- 
feared security officials left 
Albania within hours of the 
devastating defeat of his 
Democratic Party in elections 
on Sunday. This news raised 
hope among Albanians that 
Mr, Berisha might resign 

Deputy Interior Minister 
Agim Shehu flew to Ger- 
many, and the Presidential 
Guard commando:, Xhahit 
Xhafezri, left for Turkey on 
Monday, it was reported. 

Following suit. Interior 
Minister Beiui Cela was seen 
boarding a flight for Athens. 

Their departures were in- 
terpreted as signs that Mr:' 
Bensha wifl hot remain in ' 
pow^-ibng oOw 1 that the So- 
cialist Party has won a ma- 
jority in Parliament 
In Albania, the president is 
chosen by Parliament 
Still. . many people are 
keeping their fingers 

Predictions of wholesale 
post-election violence have 
yet to materialize but sup- 
posedly ironclad deadlines 
have:begun to shp, most om- 
inously the publication of the 
first-round results in the 155 
Parliament races. 

President Berisha con- 
ceded to the Socialists on 
Monday- But he avoided say- 
ing unequivocally whether he 
would keep a promise be 
made in March to resign tire 
presidency if his party was 
defeated. He seemed to in- 
dicate, however, that he rec- 
ognized the defeat. 

[Mr. Berisha said Wednes- 
day thai he intended to resign 
once a leftist government 
came to power, Reuters re- 
ported from Tirana. 

(“Definitely,” he said at a 
news conference when asked 
whether he intended to quit if 

Umir&|ii 5 IRnKn 

Safi Berisha speaking at a news conference Wednesday. 

a leftist government was 
formed. “There is no doubt of 
that I never had the smallest 
doubt in that respect ”1 

The rioting in March, 
sparked by the collapse of fi- 
nancial investment scams 
throughout the country, 
plunged Albania into dis- 
order. Rage against Mr. Ber- 
isha’s government led to the 
decision to call elections. 

On a hill on Tirana’s out- 
skirts, Qir Banushi confided 
to a . neighbor that he was 
overcome with joy to hear 
that Mr. Berisha had ac- 
knowledge defeat 

“For fie first time since I 
got hold of a looted Kalash- 
nikov last spring, 1 actually 
fired it,” he said sheepishly. 

But many Albanians re- 
main unconvinced that Mr. 
Berisha has tun out of tricks, 
and some pointed to a furor 

over toe results of a refer- 
endum on Albania’s mon- 
archy as evidence. 

A headline in Albani an, a 
newspaper reputed to be dose 
to the president, proclaimed 
victory in a referendum for re- 
establishment of toe mon- 
archy, which was abolished a 
half-century ago. 

Leka I, son of King Zo 
the last Alb anian monarc 
charged dial the claim toe 
voters had rejected toe mon- 
archy amounted to fraud. 

He said he had won from 
54 to 65 percent of toe vote, 
but vowed to abide by toe 
official results. 

“Some of Leka's body- 
guards used to be members of 
toe Presidential Guard,” an 
Albanian journalist said. 
“Berisha. is using toe mon- 
archist card to stir up trou- 

Ulster Protestants Ready Ho Kill 9 



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BELFAST — Protestant 
extremists threatened Wed- 
nesday to kill Catholic civil- 
ians in the Irish Republic if 
London banned a parade by 
pro-British Protestants in 
Northern Ireland on Sunday. 

A caller to a Belfast radio 
station who claimed to rep- 
resent toe Loyalist Volunteer 
Force said it would kill 
in toe republic if an Orange 
Order march was not allowed 
to proceed through Garvagby 
Road, a Catholic nationalist 
enclave in Portadown. 

* 7f the Orange parade does 
not gp down toe 
Road on Sunday, toe 
government may expect ci- 
vilians to be killed in the Irish 
Republic," a man using a rec- 
ognized code word of the 
paramilitary group said. 

“This threat wul be carried 
out immediately if toe parade 
is banned/* he said. 

The Loyalist Volunteer 
Force, a renegade group that 
broke away this year from 
groups controlled by the main 
loyalist command, . was 
banned last month by toe Brit- 
ish government because it 
was suspected of carrying out 
bombings and shootings. 

■ 6 Convicted in London 

Six men were convicted 
Wednesday in London for an 

Irish Republican. Army plot to 
bomb electrical substations and 
crippte-power to London and 
southeast England, Agence 
France-Presse reported. 

To applause and shouts 
from a packed public gallery, 
two of eight defendants were 

found not guilty. The jury 
took a bit more than 12 hours 
to reach the verdicts ar the Old 
Bailey court after a three- 
month trial Among those 
convicted were senior IRA 
commanders and middle- 
ranking volunteers. 




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Mr. Kohl couglung at a news conference Wednesday at 
the chancellery in Bonn. Too many speeches; he said. 


By Sieven Lee Myers 

New York Times Service 

pressure from the United 
States, the World Bank has 
taken the unusual step of post- 
poning indefinitely a vote on 
a $30 million loan to Croatia 
that the country had hoped to 
use to shore up its banking 
systems and stimulate private 

The Clinton administration 
lobbied vigorously last week 
to block the loan as a way to 
express its displeasure with 
President FranjoTudjmanfor 
failing to comply with the 
1995 peace accords negoti- 
ated in Dayton, Ohio, to end 
the war in Bosnia. 

At a meeting here Tuesday, 
the World Bank's executive 
directors were sharply di- 
vided and, rather than voting 
on its approval, agreed to re- 
move it from consideration 
for an unspecified amount of 
time, according to two ad- 
ministration officials familiar 
with the discussions. 

The United States was 
joined by its major allies in 
Europe, as well as Canada 

NATO Patrols Tense Bosnia Area 

Mr. Kovalyov’s replacement is Sergei Stepashin, a 
former head of the federal security service. (Reuters} 

“p fwa Top Ukrainian Aide Dismissed 

Biljana ■* 

KIEV — President Leonid Kuchma on Wednesday for- 
mally dismissed Prime Minister Pavlo Lazarenko, who 
proved unable to revive the country’s sluggish economy 
during his year in office. 

After emerging from a meeting with President Vaclav 
Havel of the Czech Republic, Mr. Kuchina said he had 
accepted the prime minister's resignation and he signed a 
decree removing Mr. Lazarenko. (AP) 

P ALE, Bosnia — NATO peacekeeping troops stepped up 
patrols in Bosnia on Wednesday amid a tense power 
struggle between toe Bosnian Serb president, Biljana 
Plavsic, and her hard-line government opponents. 

The peace force said ir had deployed additional troops to 
the northern industrial town of Banja Luka to prevent 
possible violence between forces loyal to Mrs. Plavsic and 
those loyal to former President Radovan Karadzic, who has 
been indicted for war crimes. 

“We received indicators overnight of a possible threat to 
security in toe Banja Luka area and we established a military 
presence in order to maintain a secure environment, “Chris r _ , . 

Riley, a spokesman, said. (Reuters) Italian Party Chief GoeS On Inal 

BERGAMO, Italy — Umberto Bossi. leader of toe 
Northern League, went on trial Wednesday on charges of 
incitement to violence for urging followers to take action 
against those who voted for Italy's far-right party. 

“If you know of someone who voted for the National 
Alliance, take down their names,” he had told followers. 
“I’m not joking about this. At toe right moment, if it's 
necessary, the League will go from house to house and take 
them.” (Reuters) 

Yeltsin Fires Justice Minister 

MOSCOW — President Boris Yeltsin on Wednesday 
sacked Justice Minister Valentin Kovalyov, caught up in a 
scandal involving a sauna video film, and replaced him with 
a former national security chief, toe Kremlin said. 

A spokesman said Mr. Yeltsin, who had earlier sus- 
pended Mr. Kovalyov pending an investigation, had signed 
two decrees on die matter. 

and Japan, the officials said. 
But directors representing i 
other countries accused toe' 
United States of using the 
loan as a political stalemenL 

Jan Piercy, the U.S. exec- . 
utive director, said after the* 
meeting that it was necessary.. 
to postpone consideration of: 
the loan for legal and eco-> 
nomic reasons. She argued L 
that Croatia's failure to abide 
by the Dayton peace agree-'' 
ment raised questions about, 
its commitment to interna- : 
tional accords and the stabil- 
ity of its economy. i 

"In this instance, toe eco- ■ 
nomic and political fac torsi- 
are so intertwined as to be 
indivisible,” Ms. Piercy “ 

The United States rou-* 
finely votes against or ab-j 
stains from loans io certain- 
countries. including those re- 
garded as supporting terror-- 
ism. but in most cases those- 
loans go ahead anyway. What 
made Tuesday’s step unusual 
was Washington’s ability to 
rally enough support to at' 
least postpone, if not reject, a « 

A State Department *- 
spokesman, John R. Dinger, 
said the United Slates op-. ■ 
posed the loon because of the 
Croatian president’s “insuf- 
ficient compliance” with the- 
promises made in the Dayton- 
accords. In particular, he cited ' 
an unwillingness to allow' 
Serbian refugees to return to< . 
their homes in Croatia and a' 
failure to cooperate in efforts - 
to bring those indicted for war . 
crimes to face charges before 
the International Tribunal in;. 
The Hague. 

The action was welcomed’ 
in Congress, where there is a 1 -, 
growing sentiment that the-* 
administration should condi- 
tion its support of loans and -■ 
other assistance to the Bal-..' 
kans on cooperation with' • 
Dayton, particularly on the is-i- 
sue of war criminals. 

Officials doubted that the;-, 
loan would come up for con-i * 
sideration soon. But other in-: ■ 
temationaJ loans are set for' • 
consideration, including aw*. 
$40 million loan from the In-* • 
temationaJ Monetary Fund* ■ 
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Russians Ready a Risky Spacewalk Repair Mission in Effort to Save Mir 


By David Hofftnan 

Wtohm.iitaw Post Semft* 

KOROLYOV, Russia — In the .great 
hall that is the heart of Russia's Mission 
Control, a veteran cosmonaut, Sergei 
Krikalev, spoke softly, explaining to six 
U.S. space shuttle astronauts how the 
Russians hope to save the stricken Mir 
space station by a difficult spacewalk. 

Mr. Krikalev, a deputy flight director 
who was aboard Mir in December 1991 
when the Soviet Union collapsed and 
broke into separate republics, knows 
about walking in space. He did it seven 

The procedure — donning a pres- 
surized spacesuit, squeezing through air 
locks and getting back aboard — can 
take hours. 

‘'They never happen in 15 minutes." 
he said. "The shortest we ever had was 
two hours. The longest was seven 

The accident on Mir was the most 
serious for the space station since it went 
into orbit 1 1 years ago. 

Now. the Russian scientists whose 
agency is in a nearly perpetual state of 


Rights for All? 

Continued from Page 1 

affairs in South Korea’s For- 
eign Ministry. 

"“As far as Hong Kong is 
concerned, economics is the 
No. 1 issue for the Korean 
government.’' he said. 

South Korea, which be- 
came democratic only in tbe 
last decade, knows what it 
feels like to be pressed by 
Washington on human 

Many other Asian nations 
still have authoritarian gov- 

The difference in the at- 
titude paid to the human- 
rights issue reflects philo- 
sophical differences over 
economic development. 
While the United States and 
Western Europe tend to be- 
lieve that political freedom 
goes hand in hand with cap- 
italism. many governments in 
Asia, as exemplified most by 
Singapore, believe that free- 
wheeling personal liberty is 
not necessary for economic 
development and might even 
be inimical to it. 

The Straits Times, a Singa- 
pore newspaper, practically 
loated over the - fact "that - 

crisis — with funding sharply reduced 
and salaries arriving a month late — are 
planning a series of risky steps to repair 
the space station. 

Everything must go according to plan. 
A hermetic seal, being hurriedly pre- 
pared, must be sent to Mir to be placed 
between the main space station and the 
punctured module. 

It will be ferried to Mir on a resupply 
drone scheduled to be launched on Sat- 

Once in orbit, the drone will have to be 
guided into a tricky docking maneuver 
similar to the one that was being at- 
tempted last week when the collision 

One or more of the three crew mem- 
bers — two Russians and an American 
— will have to enter the module, pick 
through a spaghetti tangle of wires to 
find the right ones and make intricate 
connections, all while wearing cumber- 
some spacesuits. 

The stakes are especially high be- 
cause a serious error could force the 
astronauts to abandon the 100-ron Mir, 
which is the pride and joy of Russia's 
space effort and the key to cooperation 

with the United States in space. 

"At the Mission Control from the 
veiy beginning was a mood that, ’ We’ll 
find a way out of this situation,’ " said 
Vsevolod Latyshev, a part-time press 
spokesman who is also deputy head of a 
department that collects and displays 
data on giant maps in front of the ground 
controllers. "From the first days, we 
said we'll gel eveiything back to nor- 

"You understand, this is our work," 
he added. "We have to take care of it. 
This is also our image, our authority, not 
only in Russia. It’s not just the authority 
of one person — it’s that of our country, 
of our scientists." 

Each day since the accident. Mission 
Control, just outside Moscow, has been 
the site of intense activity. A team of 
U.S. specialists from the Natiooal Aero- 
nautics and Space Administration fill 
one office, and a U.S. astronaut, John 
Blaha, has just arrived to help the Rus- 
sians investigate the accident, in which a 
cargo ship failed to dock properly and 
rammed Mir. 

Mir, in orbit 248 miles (400 kilo- 
meters) above Earth, circles the globe 1 6 

times a day and comes into radio com- 
munication with the Russian tracking 
stations only every 90 minutes. 

The conversations are monitored in a 
large, darkened hall where the ground 
controllers work. The room is a plush 
auditorium filled with computer mon- 
itors and a large screen showing global 

A Hewlett-Packard banner graces the 
front of the bail. The computer company 
is providing vital equipment. 

Across an electronic signboard, there 
is a flow of data about Mir’s flight The 
present crew consists of the two Rus- 
sians, Vasili Tsibliyev and Alexander 
Lazutkin, who have been in space 140 
days, and the American, Michael FoaJe, 
who has been aboard 48 days. 

Some critics suggest that Mir is too 
old to remain in orbit safely. It has been 
beset by mechanical problems, includ- 
ing a major fire in an oxygen-generating 
canister on Feb. 23. 

The latest accident appears to have 
ruined, for at least several months, if not 
forever, experiments on the punctured 
Spektr research module. 

To Mission Control workers, there is 

no question but that Mir. despite all its 
problems, is helping pave the wa> - «* a 
future international space station ana is 
thus worth keeping aloft 

"No one is denying that yes. 
old," said Mr. Latyshev, standing in 
front of a schematic drawing of the space 
station. "The block is 1 1 years old, but 
the Priroda research module is only one 
year old. It’s such an amazing labo- 
ratory 1 ' 1 

He likened Mir to a car with problems 
that would be corrected when the next 
model came out. 

"When they make the next model, 
they try and improve things," he said. 
"Either improve it or not make them. 
It’s the experience of Mir, the technical 
and scientific experience, that will be 
used in the construction of a new sta- 

The special seal that will be sent aloft 
Saturday will have 24 electrical con- 
nectors to link Spektr' s now-abandoned 
solar batteries to the main Mir space 
station. The collision and resulting de- 
pressurization forced the crew to dis- 
connect tbe batteries, reducing Mir s 
power. ' ' 

MEXICO: Ruling-Party Fief Threatened 

Continued from Page 1 for £e 

Never before has a sitting president of PRI and I regret it after learning about all 
the PRI — which often has been accused the corruption going on between Salinas, 
of rigging elections to slay in power — current President Ernesto Zedillo and 

: ? Ofe'l. ' : :A " Vi’--: )?• ' ■? s# ■ , ;*-• 


-4 M 

faced the potential of dueling w'ith such a 
high-profile opposition member in such 
a powerful elected office. 

"This is going to change the archi- 
tecture of Mexican politics because ail of 
a sudden we’re going to have a mul- 
tiparty system." said Sergio Aguayo, 
who heads the Civic Alliance, a national 
good-government group. 

A loss of the capital would continue 
the precipitous decline of the PRI, the 
party of the disgraced ex-president Car- 
los Salinas de Gorton, which has seen its 
power base crumble in recent years as 
opposition parties captured the state 
governor and mayor posts in almost 
every major city. Polls indicate that Mr. 
Cardenas’s two main competitors, the 
ruling-party candidate Alfreao del Mazo 
and Carlos Castillo Peraza of the center- 
right National Action Party, are vying 
for a distant second. 

Public-opinion surveys also indicate late 1980s. 

the rest of the PRI big shots." 

With most surveys in the last month 
giving Mr. Cardenas a 20 percent lead in 
tiie race for mayor, many political ob- 
servers already are declaring him the 
favored opposition candidate in the next 
presidential ejection. 

Jostling through crowded streets in 
his campaign caravan in the closing days 
of the race, Mr. Cardenas said: "The 
way is more or less open, but we have to 
see what happens in two more years. I'm 
not running tor president now. ’ * 

Mr. Cardenas already has run for pres- 
ident twice, first in 1988 against Mr. 
Salinas, an election Mr. Cardenas and 
many independent observers say was 
stolen from him by election fraud, and 
again in 1994 against Mr. Zedillo. Mr. 
Cardenas served as a PRI governor in his 
home state of Michoacan before 
abandoning his party membership in the 

that the ruling party could lose its ma- 
jority for the tost time in the lower house 
of the Mexican Congress, the Federal 
Chamber of Deputies, where all 500 
seats are being contested. Voters also 
will decide six state governorships and a 
quarter of the 128-seat Senate. 

"I will vote for the PRD because it 
offers a real change, not only words and 

His father, Lazaro Cardenas, who 
served as president in the 1930s, is 
revered by many Mexicans as one of the 
country’s* greatest laden, partly be- 
cause he nationalized the country's oil 

His father’s legacy and his party’s 
stand opposing some of the govern- 
ment's privatization plans have promp- 

■promises tike-the PRL” said Mercedes - -red-many of Mrr Cardenas's opponents 
Flores. 48, a Mexico City housewife. to predict chat international investors 

.-will sin 

Continued from Page 1 meat quoted EU sources as saying that the 

beef had been shipped to Belgium, given a 
link between bovine spongiform encephalo- Belgian label ana then exported to Spain, 
pathy, then widespread among the country's France, Russia, Egypt and Bosnia, 
cattle, and the fatal human brain condition French officials said authorities had begun 
Creutzfeldt-Jakob disease. an investigation in recent weeks after in- 

European governments have pumped bil- spectors blocked a suspect shipment of beef, 
lions of dollars of aid to the beef industry since They said the inquiry concerned one company 
then, and ordered Britain to slaughter millions and "small quantities" of meat. 

Continued from Page 1 “ft's a catastrophe — bad for Asia, 

bad for Thailand." said David Goldman, 
the near certainty of higher inflation, president of SG Capital a New York- 
now estimated by the Bank of Thailand based fund manager, "ft's a tragedy be- 
to reach 6 percent this year. In effect, the cause the Thai baht was the stablest 
devaluation is one of the biggest shifts in currency in Asia and could have been an 

of cattle deemed at risk of developing the 
ailment, also known as mad cow disease. 

Health and farm ministries across Europe 
reacted swiftly to the commission’s an- 
nouncement Wednesday, opening investiga- 
tions into the allegations and ordering tougher 
inspections at ports and border crossings. 

The commission, the executive agency of 
the 15-nation European Union, said EU in- 
spectors had "confirmed suspicions” that 
British beef had been exported to EU and non- 
EU countries in violation of the ban in recent 

The agency declined to comment on the 
scale of the exports, saying such information 
might endanger criminal investigations under 
way by national police and judicial inves- 

The Socialist group in the European Par- 

A French weekly. Le Canard Enchaine. 
reported Wednesday that the international po- 
lice force Interpol had begun an inquiry into 
illegal exports of beef via Northern Ireland- 
Whatever the scale of the exports, the ac- 
tual health risk posed by Wednesday’s an- 
nouncement appeared minimal. 

Since Britain announced the potential 
threat from BSE, there has been no sign of an 
outbreak of so-called new-variant 
Creutzfeldt-Jakob disease. The original 10 
cases cited by the British government in 
March 1996 have grown to only 16 today. 

The incidence of the disease in British 
cattle has declined sharply because of the 
slaughter and other preventive measures. 
Consumer confidence has revived so strongly 
within Britain lately that McDonald's an- 
nounced last week it was resuming purchases 

liament claimed that 700 tons of British beef of British beef for its restaurants, a move that 
had been exported illegally. A group state- was followed Tuesday by Burger King. 

Asian currency policy since Thailand 
last devalued its currency in 1984. 

With the fastest-growing economy in 
the region, Thailand has been one of 
Asia’ s ffee-markel success stories. In the 
past year, however, the Thai economy 
has fallen to its slowest growth in a 
decade, the trade deficit has soared and 
financial institutions have slid into 
crisis, saddled with bad loans to a col- 
lapsed property sector. 

Around Southeast Asia — in rapidly 
growing countries like the Philippines, 
Malaysia and Indonesia — this has been 
seen as a “Thai model" of overbuilding 
and overextended property investments 
that must be avoided. (Page 17) 

The currency move, two weeks after 
Thanong Bidaya was named finance 
minisler, came as a surprise to the nation 
as well as investors. Just days before, 
speaking on national television. Prime 
Minister Chavalit Yongchaiyudh had 
dismissed any chance of devaluation. 

Hong Kong has not already buiithc iv* .... __ 

collapsed in the yt^ieading^Mr.J Cardinas campaign ingformay or aurally of IJ^OOQ people in Mexico City. r Andres £stevez^S4^a MexicoXity. --will sLy-away from Mexicoif he .wins, 
up to this week's return to ^ 

Chinese rule. ~ ~ ~ ~ ~ ~~ "" ~ ~ ~ r 

rogate mourners — the West- BEEF: Alleged British Exports Reopen Crisis THAILAND: Markets Cheer Devaluation 

em media, human rights lob- ° 1 * 

byists and crusading Continued from Page 1 ment quoted EU sources as saying that the Continued from Page 1 “ft's a catastrophe — bad for Asia 

politicians in Washington and beef had been shipped to Belgium, given a bad for Thailand." said David Goldman 

parts of the European Union link between bovine spongiform encephalo- Belgian label and then exported to Spain, the near certainty of higher inflation, president of SG Capital a New York 

— had intimated what they pathy, then widespread among the country's France, Russia, Egypt and Bosnia. now estimated by the Bank of Thailand based fund manager, “ft's a tragedy be 

wished to see happen to Hong cattle, and the fatal human brain condition French officials said authorities had begun to reach 6 percent this year. In effect, the cause the Thai baht was the stables 
Kong in the run-up to July 1, Creutzfeldt-Jakob disease. an investigation in recent weeks after in- devaluation is one of the biggest shifts in currency in Asia and could have been ai 

1997," the newspaper said in European governments have pumped bil- spectors blocked a suspect shipment of beef. Asian currency policy since Thailand example for long-term currency stabil 

an editorial Tuesday. lions of dollars of aid to the beef industry since They said die inquiry concerned one company last devalued its currency in 1984. ization and the development of market 1 

"An exodus of talent, the then, and ordered Britain to slaughter millions and “small quantities" of meat. With the fastest-growing economy in which depend on it." 

siock and property sectors on of cattle deemed at risk of developing the A French weekJy. Le Canard Enchaine. the region. Thailand has been one of Wednesday's winners, in the shor 
their knees, civil unrest, hos- ailment, also known as mad cow disease. reported Wednesday that the international po- Asia’ s ffee-markel success stories. In the term at least, were exporters and foreigx 

tile noises from Beijing." Health and farm ministries across Europe lice force Interpol had begun an inquiry into past year, however, the Thai economy portfolio investors, who effectively 

But, the newspaper said, reacted swiftly to the commission’s an- illegal exports of beef via Northern Ireland- has fallen to its slowest growth in a bought shares at a 15 percent discount ir 

the Hong Kong stock market nouncement Wednesday, opening investiga- Whatever the scale of the exports, the ac- decade, the trade deficit has soared and what was already a depressed market 

is at a record high, property lions into the allegations and ordering tougher tual health risk posed by Wednesday’s an- financial institutions have slid into Remarkably, only 28 issues ended the 

prices are soaring, and inspections at ports and border crossings. nouncement appeared minimal. crisis, saddled with bad loans to a col- day lower, with 357 closing higher than 

emigres returning to a vibrant The commission, the executive agency of Since Britain announced the potential lapsed property sector. on Tuesday. 

Hong Kong from "sleep- ihe 1 5-nation European Union, said EU in- threat from BSE, there has been no sign of an Around Southeast Asia — in rapidly But for investors who had positions in 

walking" places like Aus- spectors had "confirmed suspicions” that outbreak of so-called new-variant growing countries like the Philippines, the market before Wednesday's move, 

tralia and Canada. British beef had been exported to EU and non- Creutzfeldt-Jakob disease. The original 10 Malaysia and Indonesia — this has been the bourse’s surge did not make up fot 

"And China will no doubt EU countries in violation of the ban in recent cases cited by the British government in seen as a "Tbai mode I* ’of overbuilding their net losses, 

again thwart the ill-wish of its months. March 1996 have grown to only 16 today. and overextended property investments "You have to view the stock market's 

detractors in the months and The agency declined to comment on the The incidence of the disease in British that must be avoided. (Page 17) rise today as really a 7 to 8 percent fall in 

years ahead,” it said. scale of the exports, saying such information cattle has declined sharply because of the The currency move, two weeks after hard currency terms," Mr, Goldman 

If there is concern in Asia might endanger criminal investigations under slaughter and other preventive measures. Thanong Bidaya was named finance said, 

about Hong Kong's future, it way by national police and judicial inves- Consumer confidence has revived so strongly minister, came as a surprise to die nation Michael Stead, head of research al 
does not seem to be so much tigators. within Britain lately that McDonald's an- as well as investors. Just days before, Bangkok-based Union Securities, said 

about whether the press will The Socialist group in the European Par- nounced last week it was resuming purchases speaking on national television. Prime the flotation was necessary to help jump- 

remain free but about whether liament claimed that 700 tons of British beef of British beef for its restaurants, a move that Minister Chavalit Yongchaiyudh had start Thailand's slumping economy, 

Hong Kong and China will had been exported illegally. A group state- was followed Tuesday by Burger King. dismissed any chance of devaluation. which has suffered from flagging export 

become a harder place to do _____ S row th and a persistently high current 

business. account defied 

Ho^Tong roremafn^p- EUROPE: France and Germany Seek to Mend a Special Relationship 

italisl bastion and to influence 1 A "Here was Thailand in what was tan- 

China to adopt more econom- Continued from Page 1 in Germany with the end of four- Germans the impression of vast lie works. Mr. Lamers look on tamount to a recession, having to main- 

ic reforms. power status in Berlin, and that French incoherence. Mr. Voigt the “economic government,” tain high interest rates. TTie flotation will 

"People say that Hong frustration of the moment by French influence as a diplomatic said: "We diverge here. The fact saying it was hardly a necessity, give the Bank of Thailand flexibility in 

Kong might be China- ized. pointing to the vanished essence player on a world scale, notably that France is back in the mar- although he could go along with monetary policy.” 

but on the contrary, we expect of the postwar French-German, in Africa and the Middle East, gins (of NATO] certainly a forum for discussing macro- Before Wednesday, the Bank of Thai- 

that China will be Hong relationship — cooperation had palpably diminished since doesn’t raise its level of influ- economic policy if the content land had maintained high interest rates in 

Kong-ized," said Takeshi based on the counterbalancing 1989. Left alone too were the ence, and it definitely increases was not a problem — presum- orderto help prop up the baht. 

Kondo, general manager of effect of France’s A-weapons deterioration of Germany’s our dependence.” ably to avoid interference with Defending the baht had taken its toll 

the office of political and eco- and Germany's D-mark. The status as an economic model. In the area of their economies, the bank's independence. on the central bank's foreign reserves, 

nomic research at Itochu Cor- Cold War ended in 1989, and and the turning of its attention the French went hard at the Ger- Still, when it came to talking which hit a two-year low of $33. 3 billion 

partition, a huge Japanese Germany no longer required and passions from a successful mans. When it was possible four about ways to recharge the re- at the end of May from around $37.3 

trading company with numer- France to serve as its chaperone, search for respectability in the and five years ago, and would lation ship, the very awkward is- billion a month earlier, 

ous investments in Hong The current situation reflected West to rebuilding and securing have done much good for all of sue of how two now unequal Last month, reports in the local press 

Kong and China. Mr. Fabius’s candid observation trade advantage in the former Europe, the Bundesbank stub- elements could re-form what quoted central bank sources as saying 

Matsushita Electric Indus- that the Deutsche mark had, in East Germany and Soviet bloc, bomiy resisted any meaningful was an essentially equal part- that the financier George Soros, among 

trial Company, the Japanese effect, trumped the the French But the differences went be- lowering of interest rates. These nerehip, or redistribute leading others, had taken short positions on the 

consumer electronics giant nuclear arsenal. yond party lines and personal- days, Germany is obsessed with and subordinate roles, did not baht worth $4 billion, 

known for its Panasonic But there were zones of cau- ities, and into national ioclin- the details of the European Mon- get any direct attention. If true, Wednesday's flotation would 

brand, plans to expand its tion. No one acknowledged how ation and consensus. etaiy Union convergence enter- But the attempt at reinvigor- be another victory for the man who has 

Hong Kong operations to little the two cultures have The Germans, left speechless ia, Mr. Hollande suggested, and ating the relationship was re- made a career out of attacking weak 

help manage the more than woven together, with Mr. Hoi- by their partner’s resumption of insufficiently concerned with garded as worthwhile. Mr. currencies. 

two dozen factories it has land only brushing against the nucleai testing two years ago, reducing unemployment. Voight pointed out artfully that [In New York, Stanley Dnicken- 

built in China over the last subject by noting how surprised were more profoundly unsettled Regardless, Mr. Hollande it was not at all unreasonable for miller, chief investment officer for Mr. 

decade, said Yukio Shotoku, people were to leant that Domi- by President Jacques Chirac’s promised that the Jospin gov- France to want close ties to a Soros’s Soros Fund Management, ap^ 

a manager for China. nique Strauss-Kahn. the French decision, without consultation, eminent would try to resuscitate neighbor with an uneven his- plauded the Bank of Thailand’s effort to 

But many Japanese busi- finance minister, spoke “more to stop conscription in France its idea of European-scale public tory, and that, even in the nar- beat back currency speculators before 

nessmen apparently believe or less correct German." and to turn its army’s mission works projects, although with- rawest self-interest, it was not finally devaluing the baht, Bioombers 

that Chinese rule will make it French comfort with protec- into that of a kind of super rapid- out national funding, at a special clear how Germany would do News reported, 

more difficult to do business tionism as opposed to Ger- intervention force. This left European summit on employ- better by going it alone. ["They did a masterful job squeezing 

in Hong Kong, replacing the many’s more free-trading in- Chancellor Helmut Kohl alone ment in the fall, and press ahead For practical suggestions, us out," said Mr. Druckenmiller who 

role of law established by the stincts, got a pass, and so did the to maintain universal military with hs project of a politically though, on how to refresh oversees the more than $17 billion in 

British with China s more ar- almost institutionalized French service at home, and Germany based. “economic government’ ’ French-German fervor after all assets in Soros funds. ' ‘They kicked our 

bttrary dec is ion-making, anti-Americanism that the Ger- alone to continue with its to oversee the future European these years and so much deep butt and they've taken lots of profits 

In a poll of companies with mans, these days, find exhaust- strategy of territorial defense. central bank. change, the symposium did not away we might have had." h 

Hong Kong operations con- ing and almost irrational. Now, the choice by the So- It was the task of another So- provide a record harvest The Bank of Thailand confirmed 

ducted by the Nihon Keizai None of the speakers felt it cialist government of Prime cialist, Ingomar Hauchler. the But the French and Germans Wednesday that speculative attacks and 

snimbun, 31 percent of the necessary or tactful to point out Minister Lionel Jospin nol to Social Democratic international continue to have a core of com- low confidence had contributed to its 

Japanese companies thought that President Francois Miner- pursue reintegration of NATO's economic spokesman in the moo interest for a new relation- decision to float the baht, savine the old 

Hong Kong s business envir- rand had initially attempted to military command by French Bundestag, to tel) Mr. Hollande ship. "The problem." Mr. Fabi- exchange-rate policy “continued to 

onment would be worse in brake German reunification, that forces, reversing Mr. Chirac’s that Europe needed a stronger us said, "is finding (he political weaken in the wake of widespread sner- 

tive years than it now. France had lost its special lever earlier intentions, has piwn the market wnnnmvmnrp rfan nnh- will to advance.” iilntinn and n-if Ji-icme *• 

t " Working in their bulky spacesuits^ » 
i astronauts will have to bolt the sedaMfg 
, an existing hatch. 

back into Mir and seal off Spektr agsin.; j® 
Mr. Foale will be waiting m Uk Som » 
i space capsule attached to Mir, which 
* and the cosmonauts will use to return 

’ Earth if they abandon ship. : , |9| 

Mr. Krikalev explained the complex; 

! hies of the mission to the NASA_smcc;* 
shuttle crew that will be wmmanded 
, Terrv Wilcutt. The crew is scheduled ttTJB 
fly the shuttle to Mir next January. ■ 

Mr Krikalev told them that the naiw 
estpan of the rescue mission would be W M 
findthe right wires to connect Hi titf* 

cramped, disabled Spektr module. 

■ Crew to Enter Module 

Crew members of Mir made prep* ■•4§| 
arations Wednesday to enter the punc^« 
Hired module, where they wifl try 
restore electrical power lost after the _>* 

In another development, the cage 
ship that hit the Mir was turned loose at . « 
10:32 A.M., Moscow lime (06:32 C|J 

GMT), and burned up in the atmosphere m 

over the Pacific. - } \m 

STEWART: ~1;| 

Actor Is Dead at 89 m 

Continued from Page 1 -+ S 

award for lifetime achievement by the • J& 
American Film Institute and in 1984; ar 
another honoraiy Oscar. ’ 

Mr. Stewart, known to Hollywood as :' j£ 
Jimmy but the rest of the world as James; I 

played in 80 films during his career, an<?. r jg 1 
was nominated four more times fof 1 
Academy Awards. 

One of Hollywood's biggest stars at 
the peak of his career, critics sometimes V- - 
complained that he always played Jameg 
Stewart, the s mail-town boy. f£- 

But behind his mannerisms lay yearS 
of hard training, perfecting what ether 
actors, like Cary Grant, and directors; : 
like John Ford and Alfred Hitchcock’, flip I 
called a formidable technique. 

“He played himself, but he played the 
character," Mr. Ford said of Mr. Stew-^ 1 £;- ; : 
art. “He was good in anything." 

A small-town boy from Pennsylvania . Vi: 
who never lost his quiet courtesy, Stew^ 
art was earning $3,000 a week as a mo vie ' 
star in 1941 when he enlisted in the then- 
U.S. Army Air Corps as a private for $2^ 
a month. * -V"'- 

Stewart won the Distinguished Flying - Jf- . 
Cross, the Air Medal, the French Croix 
deGuerre and ended the war as a colonel’ ^ . 
Always the reluctant hero, he refused aft . 
the publicity the military wanted to pour \V. 
on him, insisting on being treated like 
any other serviceman. 

• At the age of 80, Stewart his-hearing .v ; - 
almost gone and needing strong spec- 
. tacles^w.aged acampaigq^aii^t|.t^dit^ a 
adding color to black ahd white fiJms k j t : 
including the Christmas season classic ; 
"ft’s A Wonderful Life.” -5 / 

The death of his wife, Gloria, in FebiJ , . | 
ruary 1994 hit Mr. Stewart hard. ; j : • i 

He was born James Maitland Stewart* J 

"Its a catastrophe — bad for Asia, He was bom James Maitland Stewart! 
bad for Thailand. ’ ’ said David Goldman, of Scots- Irish descent on May 20, 1 908* jj 
president of SG Capital a New York- in Indiana, Pennsylvania. “Isortofgrevfi 
based fund manager, “ft's a tragedy be- up in the hardware store,” he once saiefej 
cause the Thai baht was the stablest In 1949, Stewart, then one of HoliyrJ 
currency in As ia and could have been an wood ’s most eligible bachelors, raanie&jj 
example for long-term currency stabil- Gloria McLean, who had two sons by af 

EUROPE: France and Germany Seek to Mend a Special Relationship 

Continued from Page 1 

frustration of the moment by 
pointing to the vanished essence 
of the postwar French-German, 
relationship — cooperation 
based on the counterbalancing 
effect of France’s A-weapons 
and Germany's D-mark. The 
Cold War ended in 1989, and 
Germany no longer required 
France to serve as its chaperone. 
The current situation reflected 
Mr. Fabius’s candid observation 
that the Deutsche mark had, in 
effect, trumped the the French 
nuclear arsenal. 

But there were zones of cau- 
tion. No one acknowledged bow 
little the two cultures have 
woven together, with Mr. Hol- 
land only brushing against the 
subject by noting how surprised 
people were to leant that Domi- 
nique Strauss-Kahn. the French 
finance minister, spoke “more 
or less correct German." 

French comfort with protec- 
tionism as opposed to Ger- 
many's more free-trading in- 
stincts, got a pass, and so did the 
almost institutionalized French 
anti-Americanism that the Ger- 
mans, these days, find exhaust- 
ing and almost irrational. 

None of the speakers felt it 
necessary or tactful to point out 
that President Francois Mitter- 
rand had initially attempted to 
brake German reunification, that 

in Germany with the end of four- 
power status in Berlin, and that 
French influence as a diplomatic 
player on a world scale, notably 
in Africa and the Middle East, 
had palpably diminished since 
1989. Left alone too were the 
deterioration of Germany’s 
status as an economic model, 
and the turning of its attention 
and passions from a successful 
search for respectability in the 
West to rebuilding and securing 
trade advantage in the former 
East Germany and Soviet bloc. 

But the differences went be- 
yond party lines and personal- 
ities, and into national inclin- 
ation and consensus. 

The Germans, left speechless 
by their partner’s resumption of 
nucleai testing two years ago, 
were more profoundly unsettled 
by President Jacques Chirac’s 
decision, without consultation, 
to stop conscription in France 
and to turn its army’s mission 
into that of a kind of super rapid- 
intervention force. This left 
Chancellor Helmut Kohl alone 
to maintain universal military 
service at home, and Germany 
alone to continue with its 
strategy of territorial defense. 

Now, the choice by the So- 
cialist government of Prime 
Minister Lionel Jospin not to 
pursue reintegration of NATO’s 
military command by French 
forces, reversing Mr. Chirac's 

Germans the impression of vast 
French incoherence. Mr. Voigt 
said: "We diverge here. The fact 
that France is back in the mar- 
gins [of NATO] certainly 
doesn’t raise its level of influ- 
ence, and it definitely increases 
our dependence." 

In the area of their economies, 
the French went hard at the Ger- 
mans. When it was possible four 
and five years ago, and would 

lie works. Mr. Lamers took on 
the “economic government,” 
saying it was hardly a necessity, 
although he could go along with 
a forum for discussing macro- 
economic policy if the content 
was not a problem — presum- 
ably to avoid interference with 
the bank's independence. 

Still, when it came to talking 
about ways to recharge the re- 
lationship, the very awkward is- 

France had lost its special lever earlier intentions, has given the 

have done much good for all of sue of how two now unequal 
Europe, the Bundesbank stub- elements could re-form what 
bomiy resisted any meaningful was an essentially equal part- 
lowering of interest rates. These nership, or redistribute leading 
days, Germany is obsessed with and subordinate roles, did not 
the details of the European Mon- get any direct attention, 
etaiy Union convergence criter- But the attempt at reinvigor- 
ia, Mr. Hollande suggested, and ating the relationship was re- 
insufficientiy concerned with garded as worthwhile. Mr. 
reducing unemployment. Voight pointed our artfully that 

Regardless, Mr. Hollande it was not at all unreasonable for 
promised that the Jospin gov- France to want close ties to a 
emment would try to resuscitate neighbor with an uneven his- 
its idea of European-scale public tory, and that, even in the nar- 
works projects, although with- rawest self-interest, it was not 
out national funding, at a special clear how Germany would do 
European summit on employ- better by going it alone, 
ment in the fall, and press ahead For practical suggestions, 

with hs project of a politically though, on how to refresh 
based.“economic government" French-German fervor after all 
to oversee the future European these years and so much deep 
central bank. change, the symposium did not 

It was the task of another So- provide a record harvest 
cialist, Ingomar Hauchler, the But the French and Germans 
Social Democratic international continue to have a core of com- 
economic spokesman in the mon interest for a new rclation- 
Bundesiag, to tell Mr. Holland© ship. * ‘The problem.’ ' Mr. Fabi- 
that Europe needed a stronger us said, “is finding the political 
market economy more than pnb- will to advance.” 

example for long-term currency stabil- 
ization and the development of markets 
which depend on it." 

Wednesday's winners, in the short 
term at least, were exporters and foreign 
portfolio investors, who effectively 
bought shares at a 15 percent discount in 
what was already a depressed market. 
Remarkably, only 28 issues ended the 
day lower, with 357 closing higher than 
on Tuesday. 

But for investors who had positions in 
the market before Wednesday's move, 
the bourse’s surge did not make up for 
their net losses. 

"You have to view the stock market's 
rise today as really a 7 to 8 percent fall in 
hard currency terms,” Mr, Goldman 

Michael Stead, head of research at 
Bangkok-based Union Securities, said 
the flotation was necessary to help jump- 
start Thailand's slumping economy, 
which has suffered from flagging export 
growth and a persistently high current 
account defied 

" Businesses were being hollowed out 
under the peg system," Mr. Stead said. 
"Here was Thailand in what was tan- 
tamount to a recession, having to main- 
tain high interest rates. The flotation will 
give the Bank of Thailand flexibility in 
monetary policy.” 

Before Wednesday, the Bank of Thai- 
land had maintained high interest rates in 
order to help prop up the baht. 

Defending the baht had taken its toll 
on the central bank's foreign reserves, 
which hit a two-year low of $33.3 billion 
at the end of May from around $37.3 
billion a month earlier. 

Last month, reports in the local press 

previous marriage. One, Ronald wa$* 
killed in the Vietnam War. Mr. StewaitS 
always referred to him as “ray son.Vjj 
T win girls, Judy and Kelly, were bora to* 
the Stewarts on May 7, 1951. •" 

Mr. Stewart He starred in such right!-" 
eous tales as “The Man Who Shols 
Liberty Valance," "Destry Rides« 
Again" and "The Flight of tbfcjj 
Phoenix." He also played more trouble^* 
characters in films like Hitchcock’s} 
"Vertigo.” j* 

But he was best known for his role a&j 
a suicidal businessman who finds rcr| 
demption in "It’s a Wonderful life , 71 
among the most-loved films in Holly^j 
wood history and his personal favorite*'} 
In his most memorable roles, hei 
played earnest, sometimes bashful he >-2 
roes, slow to anger but with bottomies&ijj 
reserves of perseverance. He seemed the? 
same in life, and the American public's? 
affection for him endured.. '» 


Pro-Business Budget :j 

• Continued from Page I ■'? 

the country because we have got fun-J 
damen tally two parties now far more like; 
the Democrats and the Republicans, in-J 
stead of socialists and capitalists.” 
Coming on the heels of earlier mea^ 
sures, including giving the Bank of Eng4 
land the right to raise interest rates whh^ 
out consulting the government, Mrii 
Brown delivered tough remedied] 

elements could re-form what quoted central bank sources as saying wrapped in velvet gloves*^ ^ 

was an essentially equal part- that the financier George Soros, among "The central purpose of this budget is I * fe 

nerehip or redistribute leading others, had taken short positions on the to ensure that Britain is eduiPDed to risd * 

and subordinate roles, did nor baht worth W billion. to the challenge of the lieS^nd fasW 

get any duect attention. If true. Wed nestky's flotation would changing global economy," Mr. Browi? 

But the attempt at reinvigor- be another victory for the man who has said, adding that the benefits from hifi! 
ating the relationship was re- made a career out of attacking weak policies should include "not just a £3 
garded as worthwhile. Mr. currencies. of us, but everyone ” J 5 • 

Voight pointed out artfully that [fn New Ytrt. Stanley Dracken- The chancellor.' * e second most 
« was not at all unreasonable for miller, chief investment officer for Mr. powerful Dolittcalfiaire after Prinv* - 

France to want close ties to a Soros’s Soros Fund Management, ap- ister *at povS ' 

neighbor witii an uneven his- plauded the Bank of Thailand’s effortto enunem’s 

tory, and that, even in the nar- beat back currency speculators before the momentum created 

rawest self-interest. 11 was not finallv Hevahrinp rhp fa hr - created by the previous 

garoeo as wonnwniie. Mr. currencies. of us, but evervone ” 4 • 

Voight pointed out artfully that [fn New Ytrt. Stanley Dracken- The chancellor.' * e second most 

« was not at all unreasonable for miller, chief investment officer for Mr. powerful ooliticalfimire after PtowMhv! - 

France to want close ties to a Soros’s Soros Fund Management, ap- 33? povS ' 

neighbor witii an uneven his- plauded the Bank of Thailand’s effortto enunent’s 

tory, and that, even in the nar- beat back currency speculators before the momentum created fa 

rawest self-interest, it was not finally devaluing the baht, Bloomberg 

clear how Germany would do News reported. 8 JE35X ?J° bcies °5- 

better by going it alone. ["They did a masterful job squeezing WhiE: dew Stina to^SIr and th5 ' 

For practical suggestions, us out,” said Mr. Druckenmiller, who workine class 
though, on how to refresh oversees the more than $17 billion in downsizing arid b 5 ^ 1 ?? 

French-German fervor after all assets in Soros funds. "They kicked our has mana^^S q-? m Bzitauj •. ‘ 

these years and so much deep bun and they've taken lots of profits employment l^eT^P^ ** ,0N [[ est 
change, the symposium did not away we might have had. ' * er JL Smntovmtm f Urope L Whfire a . v J 

provide a record harvest The Bank of Thailand confirmed percemand^ 6 ^en l h fT^i ! ,etWee0 # & 

But the French and Germans Wednesday that speculative attacks aSd * * 

continue to have a core of com- low confidence had contributed to its Britairchv ? W y<ars ' .l - 
mon interest for a new relation- decision to float the baht, saying the old - 

ship. * ‘The problem.’ ’ Mr. Fabi- exchange-rate policy "continued to SSaSdihiSS 
us said, "is finding the political weaken in the wake of widespread spec- of^ l ? Cb * ' 

will to advance." ulation and criticisms" preaaspec o f gross domestic produd 

inflation stands at about 2.5 percent 1 

Jij \'£f> 



S ave jto’ 


if Inspection of Old 747s 
Reveals Wiring Flaws 

A New Theory Emerges in TWA Blast 

By Don Phillips 

Washington Past Service 

w I- 



T Is lira (I 


. - 1 WASHINGTON — A worldwide in- 
' ; q specdon of electrical wiring inside the 
wing Axel tasks of early-model Boeing 
747s — like -the one involved in the 
ion a year ago of Trans World 
i Flight 800 — turned up nu- 
"" memos problems that might have 
caused future explosions, according to 
Federal Aviation Administration offi- 
. ‘ rials. 

y y The FAA officials said they believe 
“ the problem could have been a factor in 
J ' L ~' the Flight 800 crash off Long Island, one 
of the country's worst aviation dis- 
y : asters, which lolled 230 people. 

r But an official with the National 
11 Transportation Safety Board, which is 
: ‘c- m charge of the investigation, said this 
was onfy °ue °f many possibilities. . . 

Despite the intensive search for clues, 
investigators still do not know why the 
center fuel tank exploded and tore the 
airliner apart. 

Some initial theories that a bomb or a 
missile might have brought down the 
jt plane have faded and a more attention is 
being given now to possible mechanical 

’Ibe inspections did reveal some 
chafed wires and numerous damaged 
protective conduits. 

None of the wiring bed burned 
through protective al uminum covering 
to expose the wires to explosive fuel 

' The wires lead to fuel pumps inside 
the wing tanks — but not to ones inside 
the center fuel tank that exploded on 
- Jjt- IfKght 800 — and the highly shielded 
wires are the only 110-volt electrical 
source allowed inside a tank. 

~ Thomas McSweeny, the FAA direc- 
ted of aircraft certification, said tbewir- 
, ihgrcplacement since January has given 
itirac to seek a solution to the chafing. 
The extent of the problem appeared to 
surprise officials. It was first discovered 
17 years ago, and Boeing and the FAA 
thought they had found a permanent 
y Solution by wrapping the wire bundles 
in two layers of Teflon before potting 
timn in the conduits. 

Iq December, as a precaution, die 
' ~ FAA reviewed all earlier Boeing 747 
. . - . problems and decided to order another 
'/ r ; c inspection of the wiring. It was this 
■' y inspection that rumed up the chafing. 

■ Officials said the wiring problems 
y'y offered support for a theory developed 
.y fiy die FAA as to .what might have 
* " * caused the explosion in the. center fuel 




tank of Flight 800. 

Hie airliner broke apart in flames on 
July 17 shortly after taking off from 
John F. Kennedy International Airport 
for Paris. 

Investigators have been mystified as 
to what could have caused the vapor in 
the nearly empty center tank to ex- 
plode. . 

Unlike the wing tanks involved in die 
FAA inspection, the center tank has no 
1 10-volt electrical lines. 

A theory, developed by the FAA’s 
Northwest Region in Seattle, involves 
an unlikely chain of events in which an 
electrical problem causes a fire to bum 
outward from a wing tank to the wing tip 
through a vent tube designed to allow 
vapors to escape from the tank. 

At the wing tip, according to this 
theory, the flame then reverses direction 
and travels back down another vent tube 
into the center tank. 

The National Transportation Safety 
Board, conducting the TWA 800 in- 

Bui Guy Gardner, an FAA associate 
administrator for regulation and cer- 
tification, said, "This is the only pos- 
sible ignition source we can think ot, for 
now, that has the energy to ignite the 
fuel and died get it into that center 

tank. 11 

Under FAA calculations, a hole in the 
wiring protection could have been under 
fuel while the plane was at a steep angle, 
climbing from the airport. 

But after the airtiner leveled out from 
its climb at 13,000 feet, die hole might 
have become exposed to fumes as the 
small amount of fuel in the tank spread 
out over die full area. 

At diat point, the inboard wing tank 
— one of seven tanks on the big plane — 
was feeding fuel to three of the four 
engines, drawing air from venting tubes. 
Because of the altitude change, fumes 
were exiting the center tank through 
another tube. In this theory, at the wing 
tip, where the venting tubes converge to 
spew out the fumes, a circular air Bow 
was created. 

A “flame front" started by an elec- 
trical are could then have traveled 
against the flow of the volatile vapor 
from die wing tank to die center tank in 
about 25 seconds, according to calcu- 
lations. That; the experts say, is about 
the length of time from the point of level 


The FAA acknowledged that 40 per- 
cent of the TWA 800 wire conduits have 
been foand in the underwater search and 
showed no chafing. 

Ch* CrMcMtfbc Anoctaurf PM 

IN ORBIT — Susan StiO, pilot, and Don Thomas, mission 
heading for the Columbia shuttle, which took off 
y to finish work truncated in a previous flight. 

U.S.-North Korea Talks 
To Cover Broader Range 

The Associated Press 

NEW YORK — Two days after 
taking steps toward formally end- 
ing the Korean War, the United 
States and North Korea were ex- 
panding their talks to areas of mis- 
sile proliferation, food aid and 
missing U.S. servicemen. 

One-on-one discussions 

Wednesday at die U.S. mission to 
the United Nations were also ex- 
to include the exchange of 
>n offices. 

On Monday, diplomats from 
both Koreas and the United States 
announced they would meet, along 
with China, for talks Ang. S to 
prepare for negotiations aimed at 
fomally ending the 1950-53 war. 

In Bering, a Foreign Ministry 
spokesman, Tang Guoqiang, said 
Wednesday that China welcomed 
playing a role in crafting a peace 
treaty for the Korean Peninsula. 

"The idea of maintaining peace 

and stability on the peninsula has 
always guided China's handling of 
matters relating to it," the official 
Xinhua news agency quoted Mr. 
Tang as saying. 

Wednesday's talks between the 
United States and North Korea 
aimed to encompass a broader 
range of issues than could be ad- 
dressed in the three-way talks, a 
State Department spokesman, John 
Dinger, said in Washington. 

The acting ssistant secretary of 
state, Charles Kartman, was to 
head the U.S. delegation. Vice For- 
eign Minis ter Kim Gye Gwan of 
North Korea was to lead his coun- 
try’s team. The two also led talks 
between the two nations in New 
Yack in March. 

The United Stales is concerned 
about North Korean arms sales and 
its weapon program, while Pyong- 
yang desperately needs interna- 
tional food aid. 

Arab-Israeli Clashes Resume 


Cabinet Haggling Prevents Government Reshuffle 

By Serge Schmemajon 

A'fW' York Times Senice 

JERUSALEM — Violent 
clashes erupted anew in 
Hebron and in the Gaza Strip 
on Wednesday while Foreign 
Minister David Levy contin- 
ued haggling with Prime 
Minister Benjamin Netan- 
yahu ova- staying in the gov- 

Hie most serious incident 
occurred in the Gaza Strip, 
where Israeli soldiers shot 
and killed a 16-ycar-old Pal- 
estinian. The shooting 
happened after Jewish sealers 
from the Gush Qatif settle- 
ment bloc began bulldozing 
land that Palestinians claimed 
was theirs, and Arab youths 
began throwing stones. 

Witnesses said soldiers 
fired in the air to disperse 
them, then fired into the pro- 
testers, killing the youth and 
wounding six others. 

In Hebron, Palestinians 
came out once again to bom- 
bard Israeli soldiers with 
stones and firebombs, and the 
Israelis responded with live 
ammunition, wounding at 
least two dozen youths. 

The clashes accompanied a 
general strike called to protest 
anti-Muslim posters spread 
by an Israeli woman last 

et Mohammed a s a pig. ‘’Ibe 
woman has been under Israeli 
arrest since last Saturday, and 
both Mr. Netanyahu and Pres- 
ident Ezer Weizman made 
public apologies. 

The United States consul- 
general in Jerusalem, Edward 
Abington, visited the battle 
ground in a market area of 
Hebron with the chief of Pal- 
estinian Preventive Security, 
Jibril Rajoub. Asked whether 
the United States, which has 
largely ignored the Israeli- 
Palestmian confrontation for 
the last three months, should 
intervene, Mr. Abington 
replied, "First and foremost, 
it is the responsibility of Israel 
and the Pales tinians to stop 
the violence and casualties." 

Mr. Rajoub, whose farces 
have generally stayed clear of 
die confrontation line in 
Hebron, said, "We are not 
responsible for protecting 
Netanyahu's policies against 
our Palestinian people/ 

American officials have 
said they view the Hebron 
clashes, which have been 
largely confined to a narrow 
street m the center of town, as 
a safety valve to let off the 
frustration and anger simmer- 
ing in the West Bank over the 
absence of progress in Israeli- 

Palestinian negotiations, and 
the continuing work on Jew- 
ish settlements. 

But officials also fear that 
the clashes could escalate, es- 
pecially if there are more in- 
cidents like Tuesday's, when 
two Israeli soldiers were 
wounded, one seriously, by a 
homemade pipe bomb. The 
Israeli commander in Hebron 
has warned that he will not 
allow the situation to contin- 
ue in this way. 

Mr. Netanyahu, mean- 
while, remained locked in a 
dispute with Mr. Levy, pre- 
venting the prime minister 

from concluding a govern- 
ment reshuffle. 

The issue centers on Mr. 
Levy’s opposition to includ- 
ing Ariel Sharon, a veteran 
hawk in the cabinet, on the 
s mall team charged with 
planning strategy toward the 

The dispute has prevented 
Mr. Netanyahu from appoint- 
ing Mr. Sharon, currently 
minis ter for national infra- 
structures, as finance minis- 
ter, and that, in turn, has 
blocked a chain of other ap- 

The continuing squabble 
has drawn increasing fire 
from the opposition and in 

"A war is being waged in 
Hebron, and they’re bicker- 
ing,” said Uzi Baram, a mem- 
ber of Parliament from the 
opposition Labor Party. "It’s 
a mockery." 

Cambodian Factions Battle 
As Political Feud Escalates 

Washington Pan Service 

PHNOM PENH — Military units loyal to Cambodia's 
rival co-prime ministers clashed Wednesday north of the 
capital, raising fears that the running feud between the 
two government coalition partners may be dragging the 
country into further instability. 

The two sides exchanged fire with assault rifles, mor- 
tars and rocket-propelled grenades at a naval base about 
20 miles (32 kilometers) northwest of Phnom Penh, 
Cambodian officials said. 

There were conflicting accounts of what sparked the 
fighting, but diplomatic sources said it appeared to be 
connected to increased tension lately over efforts by the 
first prime minister. Prince Norodom Ranariddh, to strike 
a deal with remaining members of the Khmer Rouge 
guerrilla group. Prince Ranariddh has been trying to 
persuade the guerrillas to turn over the former dictator Pol 
Pot, junk their “provisional government" in the jungles of 
northern Cambodia and recognize the Cambodian gov- 
ernment and constitution. 

Suspecting that Prince Ranariddh’s royalist Funcinpec 
party has been bringing Khmer Rouge guerrillas into units 
it controls in the Cambodian army, the rival Cambodian 
People’s Party of Second Prime Minister Hun Sen has 
threatened to counter any such moves with force. 

Troop movements and preparations for attacks have 
been r ported in and around Phnom Penh, which has 
remained uneasy since a June 17 clash in which two of 
Prince Ranariddh ’s bodyguards were killed. 

It was not clear how many troops were involved in 
Wednesday's fighting, which was reported to have sub- 
sided by nightfall Officials said the clash broke out at the 
Preak Taien naval base on the Mekong River, which 
houses troops loyal to Prince Ranariddh’s party. 

. M 

• .1 «. * 

r*-- i 


*..*■ i 

hr' r.< 



Societe Anonyme 
5, rue Jean Mon net, Luxembourg 

R.C. Luxembourg B 85 123 
Amendments to the Management Regulations of 

WfciGlplwil Fhb4 

In oomecSon wfli Die tender of the Central Adrirttndpn of WnGlobaf Fund to Grafts Find Service fUrambouti) S 

fl!l»iT^SsA,toKbrag0rT^CarBafw , WINTEHTHl^R)»OMjWAGB®aK)MP^NYrtJJXEMaCXJfiG)^,i 

fasdsHK^Mi^atnariinert^ • __ ... 

Tho registered office of the Management Conpary has been barofcimd Iran 14, boubwni Grande-tXeherae Cfaltft L-13»Luwitw«gto5,n»JaanMann^ 

taaSacocMtdttettfcwtoBlf^^ . - . . - . . 

As ft resets of eachporifcfc tra subject* nomal pricetouaBons, nogumntee can bo given that tie portUo in tuarion vOraach Is 
Liquid assets mat to heU for the portfcfios In ft cumndes to which Investments are matte orft reden***) price to paid ai These mw be hfei»asl*ifttted- 
terni deposfc A tart® and an anciaiy assets. 

Stiject to ft investment restrictions «*«t Mar,#* Rnl may engage to saortiK taming. 

ftaagraphecjamdjolsecfionl tffthvestmertResriciktosiBadasloiow: . ‘ w . 

tA ftnudwrtito B B ffliritifls Effr y fe w l to iUtM hfing no arinric atehenoa in a state not a nmmter ot the BJ ordae* to on aiwftgRBg|irt9dMariBtftia 6Mri nrta 
member erf ft EU. which operates ragutoriy and b reco^pised and open to ft puHtoThe fwvEU member stales are al fte ofc cxuttteK of Elidpb, Asa. 
Oceania, America and Airtca: 
d) issifisoftavEfeiablB sacuatae, prcwkfed that 

• ft tefflgoffesM Indude to 

d ft atawwitioned cortrias, wt*h operates raguMy and h reoognmd and open to tha pile; 

• such aiftBsionfesaaiMwAKn one year rfta ua. ^ j • " 

"hnedioin section 1) wlh ft acafiai oflie money maria* inttumenb referred to 

• wmBssBaamasemmez — 

fl aatfiportfofonwiNBttnDnnreftn!0%of ta nat assets hsaosSaaisBUBdly ft ssmebody; __ _ ^ , n 

*} - each poddloiwj taut ip to SS> ef b tot ebk*e h into d opefMndad infeM^lxoalectMilr»«^ 

/ : d20Decenftri8B5(tfietteg. , _ ^ . . <.^ ~ >~*~*~»* 

f ft cofeeftre hiat ..-art body Mows an irwetmart 

'* sack*; and 

to mte of an Imaaimert fcnd or ftaslmert 
' " <*wtor 


• * sKass&AWJtsssflS^^ 

The tart panpaph reads as fckMs: 

■Paymenb which taw been made h camacftn aftcripfcr appfcaOons wrtdi caJd not be encuM wtimmBdatBlytorelundMbyftOBpostayBa^ 


The three Itet paragraph d «ticta 6 read as fata*® 

ThB bsub price is based on tfie nat asset vaiue per un* tor each class and aacft category d urtas cafcd ated onth a day aterft jxicriase appfcafen 'a ai xntted 
[Sy) plus an agency commesion net eocsedtog 5% of ft nrt as^value per irt, pnwde dsu ch appfc^terecwedby ft Manaeemert Company before 
W0 pm. LuD»nbcug tw and j*yment b made to ft Depo*»y Bank imMi tom busftss <hya aftar tie retewtfWuatroDaji. 

mined two vBuafonl husc. A maUnim comrisaon of 5% cl tha nel aasstvaluo per una my be ctaged by tw aeinB aganL In so tot as n a ^JriKScSon wham 
uris «s add, feoue or satee taus become payable to ft rwpeeft tax admHstrafion, ft aftcn(*ion price w3 ncreasabyfttareout 

‘ i are received in a cunwcy oftr ftn ft one 


ShoUdwi hreworreouBSt irt certificates, ftse wH, In.prindple, ba feawd at tteco atosotft sejftaBBrtsprtfiBir branch ofees to^derertnafons af 1. 
and I^XXI wfNn fiva d^s ot paymai* d tie purchase praTlw costs d pnr i tg unit asfificaes may be chaged to ay urrttidder requesting ptysical deftwy* 

In irtida 8, subparas 1) 2) end 3) under Tha vaft olft assets d each portUo Is detentinad wfokwr are amended as subpares 1)to 7) asUows: 

1) Secultea wHdi are feted on a stock ■ehangs of wfifch ana regialy traded cn Midi aftd ba valued at ft tet tatown gstfgS B price. If su cha. pri ce » not 
udkita tor a oariatar ewftrMB sassiui, bda cteing mhtprice (ft mean ol the istad doting bid and ask prices) or a doting bid pnce Is aetoble. ftn ft 

dosngrrfd-pice,orefcfflra6^ftdodrabWprice,iwb6iatana8abasfetorftvaliBtai . , , . , „ ^ 

■ asaulty Is traded Maanddockewhafts, ft ptfce onft dock exchange on wfech «tou» feted staB app^ to »» gsa qt saosiBes tor wfech 

te*w on a stock a«lSnb Is not drificant bilwNch am bou^t and sold and a secondary motet with regulated tradng among secuttes deafen (aflhfteBed 
tftscira prica is set on a merits* b^fe), ft Managamart Company may dacafe to base tha v^uadan an tf«s sacanda^ martet. 

Q SeoraSes traded on a regJated maria* shal bo valjed in the samo way as socurtfes Sstod on a stock axetenga; 

3) Secutea that are not fisted on a stock exchange and are not traded on a regdafedi martet sM .to vatoed at^ftjrW Byatebte^inariU price; I no auchjnca e 
waHbie, the Mane#snent Ccn^ssy ml value ftGO aecurtBes m accwdance with other criteria it shall efetidi on the bass of the seing pnees rat can 

4) Hdudarynwabnenfe and fbotfterm deposits shall be watoed a ftfrnonftBlvafcjepfes accrued filtered. 

Ire wih ft iw market yields. . 

6} -me portui of ft net assets of a portfofio composed deecuteitt a remetofeterm to mefuty d lass ftneh .months may ba vauMby 

bvesfrnertsshalbebrt^ritoline^ftnewriia^yiakis. . . 

7) ■ The smarts resuBng from sudi valuations shafl be convertod Into ft reference eurency of eech portoto to ft piwaSng nftkala Foreign exchange 
trensactas mate fcr^ ft purpose erf hedging curency rishs shal be taksn into constoafion «rf«n carrytog out this comeretti 

inis as Mows.” 


‘TtolhoUaB may requeslft reefempton of ftkirt»mansrVttrtion CfyThB radamptln pries 
h artidB 11, paragaphs 1 , and 2, read as Mows: 

1. The ttreaaiwrtCoftoMy m * etiarae a mawrun fee 0105% per arvun far each portoto, basedon ft oemgs daiy nd assd vaft dunq ft ratovart 
mortfi andp^rt* at ft be^ir frig of ft hlmfcg month. 

2. Moreover; each partfefiostalbear ft costs speefadbekw: 

Tha tost senaence ol patagaph 5. a deleted. 

TheladMrfmdxljcfell readsastotae: ^ _ 

~a^S £aS!SS5EE^ 

Other esqxnsas may be amortisraoMr a period ol Sw yeareT 

to «tid* 19, ft second andft tbWparearaph. as wal as ft fta santanca olft leurti pangrettfi read as Mbns; 

{Oonvession afticafcns must ba recetoad by 300 jun. (LixBntotBgfrTO)ona\ttjalionD^ 

•Cawraon wfl fts due ushgft mt asset vahie pennt dft tespedbaportlolos eGftbhad onft neodValualian [^togefiw with ft Iasi latownoxch^mto- 
de rate, H appIcstiK 


timrtboug, 30to May, 1997 












Reinventing Albania 

Their country is devastated by riots. 
Large areas are controlled by bands of 
marauders. In much of the land there is 
no state to speak of. 

Yet Albanians managed to choose a 
new government on Sunday in elec- 
tions marked by high turnout and very 
little violence. International observers 
could not call the elections free or fair, 
but even “adequate" elections are an 

Now. however, the real work of re- 
inventing Albania begins. 

The results are incomplete and there 
will be runoffs on Sunday, but voters 
have clearly rejected President Salt 
Berisha and his inaptly named Demo- 
cratic Party. Albanians suffered live 
years of Mr. Bens ha’s increasingly 
authoritarian rule. His demise was due 
to the collapse of pyramid schemes his 
government had tolerated, some of 
which continue today. 

The elections could happen only be- 
ional fora 

cause of a multinational force led by 
Italy, which escorted international 
monitors and gave Albanians the con- 
fidence their vote would be respected. 

Albania’s new government will be 
formed by Fatos Nano of the Socialist 
Party, who took advantage of the coun- 
try's chaos to escape from prison, 
where he was serving time for alleged 
embezzlement. Many believed the 
charges against him were invented by 
Mr. Berisha' s government 

That Mr. Nano was likely a victim of 
one authoritarian government does not 

guarantee that Albania will not rind 
itself with another under his rule. Al- 
bania’s grotesquely harsh communism 
was nota fertile environment for grow- 
ing democrats. 

There are people committed to de- 
mocracy in Mr. Nano's party and its 
smaller coalition partners, but he may 
not be among them. He has run the 
socialists with an iron hand, and many 
fear that he, like Mr. Berisha, will pat 
his political interests ahead of those 
of Albania. 

For Albania to have a chance ai 
normalcy. Mr. Berisha must follow his 
concession of his party’s defeat by 
quickly resigning the presidency to 
lead a constructive opposition. His 
resignation would encourage Mr. Nano 
to be conciliatory as welL Albania des- 
perately needs its politicians to treat the 
opposition as adversaries, not traitors. 

Mr. Nano is now faced with building 
a new coon try. He must first disarm the 
militias and restore security. Thai may 
require European troops to stay longer 
than their planned withdrawal dace 
of mid-August 

The West should also learn its lesson 
from Albania. The United States and 
Europe backed Mr. Berisha long after 
his dictatorial governance became a 
problem. Mr. Nano will be dependent 
on foreign aid and loans. 

They should be conditioned on 
policies that establish democratic in- 
stitutions and practices. 


Out to Get Them 

A new way has been found around 
the reluctance of the local governments 
and the NATO-led international peace- 
keeping force in Bosnia to arrest war 
crimes suspects. Investigators of the 
war crimes tribunal at The Hague, plus 
forces of a UN transitional adminis- 
tration in the Serb-held Croatian region 
of Eastern Slavonia, picked up Slavko 
Dokmanovic. The former mayor of 
Vukovar had been secretly accused, 
along with three Yugoslav Army of- 
ficers publicly accused, of removing 
260 mostly Croatian civilians who had 
taken refuge in a Vukovar hospital in 
1991 and murdering them. It was the 
first arrest carried our on the territory 
of a former warring Balkan state with- 
out its knowledge or cooperation. 
There were, of course, special cir- 
cumstances in this case. One was the 
secrecy allowed bv the existence of an 
until-now unpublicized category of 
“nonpublic'' indictments. Another was 
the presence of die suspect in an odd 

Hie Dokmanovic arrest shows, 
however, that there is still some space 
for bold initiatives. The chief war cnmes 

g eographic comer not covered directly 
y the NATO-led “stabilization force." 

With the potential for surprise now di- 
minished and with most suspects living 
in more protected locations, it is hard to 
say what the next move will be. 

prosecutor, the Canadian Louise Ar- 
bour. said that her investigators would 
no longer announce their targets. Her 
action freshens the obligation of the 
local governments and the international 
peacekeepers to go after the 67 of the 76 
known suspects who are still at large. It 
is an abiding stain that those govern- 
ments and peace forces shrink from 
making cnod on die commitment they 
ail underiook in die Dayton peace ac- 
cords. A fear of taking casualties ac- 
counts for pan of it, bat (here is also a 
stultifying lack of energy, courage and 
imagination, a feeling that active pursuit 
would simply not be worth it 
This is weakness, and it is at its 
worst in the case of Radovan Karadzic, 
the Bosnian Serb leader who, although 
indicted, still runs the local govern- 
ment he ostensibly withdrew from last 
year. Governments such as his that 
shield accused war criminals should 
continually be reminded that they will 
be regarded as pariahs and denied the 
comforts of international company un- 
til they present these men for triaL 


Help for the Rich 

The chairman of the Republican Na- 
tional Committee, Jim Nicholson, ac- 
cused President Bill Clinton, this week 
of defending his new tax plan by “re- 
sorting to liberal, old-guard class war- 
fare itetoric." The truth is that Mr. 
Clinton soft-pedaled his criticism 
when the Republicans deserved to be 
blasted for their enrich-the-rich tax cat 

Mr. Clinton proposed a tax plan of 
his own that is for better than foe plans 
passed by foe Republican-dominated 
House and Senate. But his criticism of 
the Republican plans was cast so 
mildly that there is a danger he will be 
forced to retreat significantly in further 

Even when Mr. Clinton identified 
foe Republicans* mosr vulnerable spot, 
pointing out that their bills “direct far 
too little relief to foe middle class,' ’ he 
let it go at that and failed to denounce 
the magnitude of foe inequity. The 
House and Senate bills would direct 
about 65 percent of their tax cuts to foe 
richest 20 percent of American fam- 
ilies. By contrast, a paltry 13 percent of 
foe tax cuts would reach foe bottom 60 
percent of families. 

The Republicans say their plans di- 
rect three-fourths of foe benefits to 
families earning less than $75,000. But 
those reassuring numbers come from 
flagrantly misleading tables prepared 
by a highly partisan congressional 
staff. At a time when private incomes 
of the richest Americans are soaring 
out of sight of ordinary workers, they 
hardly need foe additional advantage 
of a skewed tax cut. This is precisely 
the sort of inequity on which foe pres- 

ident should be defending middle- and 
low-income Americans. 

Mr. Clinton’s alternative plan 
makes substantial improvements over 
the congressional bills. He would 
make a $500 child credit available to 
many families too poor to owe federal 
income taxes but which pay Social 
Security payroll taxes, reduce the tax 
cut on capital gains for upper-income 
families, preserve foe existing estate 
tax and eliminate a hugely expensive 
tax-subsidized retirement account for 
upper-income families. 

Yet foe president’s plan is nothing to 
brag about About a third of its tax cots 
go to foe richest 20 percent of families, 
while a much larger group, foe bottom 
60 percent of families, also get a third 
of foe cuts. That is embarrassingly 
unfair, even if a huge improvement 
over the congressional plans. 

What Mr. Clinton needs is a strategy 
to ensure that his plan largely prevails, 
and his weak opening salvo will not 
ensure that To win foe battle, Mr. 
Clinton needs to hold firm and threaten 
to embarrass foe Republicans if they 
fail to back down. 

He does not have a hard selL Polls 
show that about 52 pen*nt of voters 
believe that the Republicans are out to 
protect the rich. For foe other 48 per- 
cent, Mr. Clinton can hammer the 
Republicans for taking foe side of 
America's wealthiest families and 
dare Congress to pass a bill more tilted 
than his own. If such is deemed class- 
warfare rhetoric, then foe country and 
foe budget debate need a healthy dose 
of it. 







RICHARD McCLEAN, Publisher A Chief Executive 
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When It Comes to Dictators, the U.S. Never Learns 

_ _i tn use aeainst Israel. 

W ASHINGTON — What is the 
dumbest single thing the U.S. 

U_ Iim Holland result, the United States knows far less 

By Jim aglan r han it should about developments in * . . I tale * n under oressure 

to choose, 
many con- 

govemment ever did in 
Saddam Hussein as a regional 
erate" and then letting him survive the 
Gulf War and its long aftermath to 
slaughter another day? Hard 
I always thought Too 
tenders, I always said. 

Bat one decision does dwarf foe oth- 
er bits of official chicanery and short- 
sightedness perpetrated by force pres- 
idencies in treating the Iraqi dictator as 
an ally (Reagan, Bush) or as a tolerable 
evil (Clinton). It came to light in an 
illuminating report aired by ABC Tele- 
vision on June 26 detailing a decade of 
flawed and ineffective U.S. polity to- 
ward Iraq. 

The grand boner was a ban on U.S. 
officials having any contact with Mr. 
Saddam’s political opponents. Begun in 
1988 in the Reagan administration, foe 
ban was continued by President Georgp 
Bush — even after Mr. Saddam had 
turned from putative friend to declared 
enemy. Through bureaucratic inertia 
and spinelessness, it was continued 
througn the Gulf War and into the 1991 
Iraqi uprising that with U.S. help stood a 
good chance of toppling Mir. Saddam. 

The ban blinded the United States at 
crucial moments and gained Washing- 
ton nothing but Mr. Saddam’s spurious 

goodwill. It denied U.S. help — even 
moral support • — to people who enun- 
ciated the sa me principles and demo- 
cratic aspirations that American gov- 
ernments say they support at home and 

Just as it had a decade earlier with the 
shah of Iran, foe United States agreed to 
restrict its information, its aspirations 
and its c ommitme nt to democracy for 
the sake of a dictator’s sensibilities and 
his pretense of cooperating with U.S. 
short-term goals. 

Don’t they ever ieam? In Wash- 
ington, foe answer seems to be no. 

They never leam. They go back to a 
mind-set Qf accommodation and short- 
term reaipolirik foai often brings dis- 
aster. That’s why ABC's revelation is 
not ancient history but news. 

You can be sure dial somewhere in 
the fTlintnn adminis tration today 
someone is arguing t hat Saudi Arabia is 
too important and too sensitive for U.S. 
officials to be in touch with foe re- 
gime’s domestic opponents. 

Ghange the regional bureau and you 
win get China, or Indonesia, as the 
country where no effective U.S. sup- 
port or even a sympathetic presidential 
ear can be extended to dissidents. As a 

than it should about developments in 
those countries. . 

That point comes through clearly m 
the smart ABC special produced by 
Maik Atkinson, who invested ouj e 
monihs of investigative reporting in 
this important project. 

Mr. Atkinson started out on the trail 
offeeCIA's unsuccessful effort to over- 
throw Mr. Saddam — the agency s 
most expensive and disastrous failure 
since the Bay of Pigs. ABC’s tough- 
minded focus on the covert operation 
caused ex-Director John Deutch and 
others at foe agency to sweat out its 
revelations about their miscues and mis- 
judgments as broadcast time neared 

But Mr. Atkinson also broadened the 
focus of Iris reporting to take in the 
political responsibility of three succes- 
sive White Houses for a broader policy 
failure, one that has left foe United 
States stalemated in the Gulf today. 

The bet by Presidents Reagan and 
Bush that Mr. Saddam could be used 
as a regional bulwark against Iranian 
expansionism in the mid-1980s was 
not an unreasonable one. although it 
should have been considered untenable 
by 1987, when Mr. Saddam launched 
a campaign of genocide against the 
Kurds of northern Iraq and made 
clear his intentions to pursue a nu- 

But what justification 
for the decision, taken under pressure 
from Mr. Saddam’s foreign minister, 
Tariq Aziz, to shut off contac t wi th 
Iraqi citizens wbo opposed the regime. 
That is a self-defeating act, not a rea- 
sonable alternative. _ . 

In retrospect, that is one of the 


things I regret,” says Richard Haass, 
Mr. Bush’s top Middle East expert, at 
foe White House. *‘We would have 

been better informed, and probably tad 
greater influence, if we had cot stayed 
with the policy that we inherited. •»-• 
What are foe chances they will learn? 
That policymakers will not replay foe 
diplomatic version of Hindman’s bluff 
again? Not good, particularly since foe 
ABC program provoked little visible 
reaction in foe Clinton White House 
(which refused to put anyone on camera 
to defend its behavior in Iraq) or foe 
national press. A brief review m The 

New York Times missed foe program s 
es sential points, and The Washington - 
Post did not even review iL' 

Mr. Saddam predicted on foe eye of 
his invasion of Kuwait that Americans. . 
would not have foe courage to oppose 
him. He was wrong about that. But . 
America’s attention span is another 

The Washington Post. 



falls in love A 

an man in Israel .P 

butfoeir parent* 
of their roamage t 
records show they 

py^t-graitdparert 1 

& Yeats taer.shff> 
European Jew. Tni ¥ 
lMiv elders approve; 
“ithiopun £ 

forbidding mamag- 
tended family ^ 
thousand, finds m 
outside fo* * '■"fJvL 

NcBUsensical - Uj 
by instinctively ad 
strict rales, foe *rit 

that wandered iriW 

Most of the i 
Ethiopian Jt 
not doing u h 

Like Arms Control, Global War 

W ASHINGTON— A string 
of new studies indicates 
that we are witnessing the early 
signs of something potentially 
catastrophic: The Earth's tem- 
perature is rising. Glaciers are 
melting, die incidence of ex- 
tremely heavy rainstorms has in- 
creased by 20 percent in North 
America this century and spring 
has been arriving a week earlier 
in the Northern Hemisphere. 
The cause appears to be the 
-emissions from foe fossil fuels 
we bom to heat our homes, run 
our cars, power our industries 
and cultivate our farms. 

The Earth's climate has re- 
mained stable for the past 
10,000 years, but global warm- 
ing thrftatftns foe stability that 
fostered foe development of 
modem civilization. Rapid 
warming coaid render whole 
forests more vulnerable to the 
ravages of disease, pests and 
fires, destroying watersheds. 
Rising sea levels, flooding, 
drinking-water shortages and 
the northward spread of tropical 
diseases could displace milli ons 
of people. The economic and 
human costs may devastate con- 
tinents, creating a crisis largo 1 , 
and possibly more enduring, 
than any in recorded history. 

The question is no longer “Is 
our climate changing?" but. 

By Paul H. Nitze 

“What can we do about it?” The 
cause and consequences of cli- 
mate change are global and re- 
quire a global response. The 
stakes are high, not only for those 
in harm's way of the physical 
effects of warming, but also for 
those who have staked their eco- 
nomic well-being on fossil fuels. 
To stabilize the wold’s climate 

will require reducing greenhouse 
gases by half during the next 

century, and countries must be- 
gin cutting emissions soon if ad- 
aptations are to be rmdr. without 
disruption. But the challenge — 
and required changes — are of 
such scope and magnitude that 
courageous multilateral steps, 
beyond what has been accom- 
plished even in our landmark 
arms control agreements, are 

Such bold steps also are es- 
sential if we are to address the 
looming threat to geopolitical 
stability posed by climate 
change. Just as arms control 
treaties sought to limit and re- 
duce the nuclear arsenals of foe 
superpowers, creating an envir- 
onment of cooperation that en- 
couraged the peaceful transition 
of Eastern Europe and the So- 
viet Union, world leaders must 
create similar durable interna- 

tional structures for limiting and 
reducing greenhouse pollutants 
while providing for an orderly 
transition to the use of the en- 
ergy sources of the future. 

Our best prospect for such an 
agreement is an international 
gre enh ouse emissions bud- 
get system. Nations would adopt 
inte rnationally binding caps or 
budgets on pollution. Those that 
reduce emissions could earn 
emissions savings to bank fix' 
future use — or to sell to others 
to meet their budget require- 
ments. Over the long run. the 
innovative, technology-rich U.S. 
economy could benefit, with 
U-S. industry competing on an 
equal footing to oner pollution 
controls in world markets. 

What would it take to create 
such a structure? To begin with, 
foe United States must lead the 
way. If we Americans promote 
foe concept internationally, oth- 
ers will follow. Four key ele- 
ments would make an agree- 
ment successful. First, any 
agreement must encourage 
maximum participation, per- 
mitting all nations to earn or use 
tradable emissions credits at 
some level, whether by using 
energy more efficiently, 
switching to less environment- 

ally damaging fuels or planting 
and preserving forests that ab- 
sorb pollution. 

Second, to encourage devel- 
oping countries to participate as 
soon as possible, industrialized 
countries — especially the 
United States — should speedily 

budge^^Sustrk^^^un tries 
also should find ways to make it 
easy for others to join in. One 

sions profligacy. Violations' 
could be identified by interna-’' 

Honai inspectors along the lines^ 

of the UN' s International Atom-, 
ic Energy Agency. Similarly, inf 1 

response, economic measures' 


such as sanctions or embargoes’. 1 

The economic and 
human costs 
may devastate 

interim method would be for 
industrialized countries to 
provide incentives (such as 
credits) for their own compa- 
nies to work with the industries 
in developing countries to re- 
duce emissions. 

Third, foe agreement will 
need tools to enforce compli- 
ance. International — and do- 
mestic — support for a budget 
system will fade if it permits 
some countries to evade respon- 
sibility or imposes unacceptable 
disciplines on others. A treaty 
should include a range of real- 
istic options for deterring emis- 

might be emplaced through foe£ 
UN Security CounciL - ■ 

Finally, President Bill Clin-” 
ton should demonstrate his per-" ■ - 
sonal commitment to this effort. ■ 
Just as be took the lead in fnr-"^ 
foering foe Cbemical Weapons -fB 
Convention, so should he lead 3 * 
foe battle against this new threap 
to global security. He should not* 
be swayed by arguments that? 
global agreements would spawn'! .. 
an intrusive international bu-^ 
reaucracy. Comparable criti-l 
cisms were leveled at foe arms’ 1 
treaties and dispelled — and foet- 
danger from not taking action is ; 
just as severe. Those agreements* 
demonstrated that global prob- 
lems could be solved through'! 
international agreement Their' 
lessons can help us limit and- 
reduce foe growing threat frorri 1 
climate change before we fincN 
ourselves facing catastrophes 


The writer, a fbmutf'dipW Jif 
mat, is on the board of the En- 
vironmental Defense Fund. He* 
contributed this comment to 
The Washington Post. 

^pool. The tribe's sur 
“ dition intact was oei 
The rescue of ta rt 
rad. with American 
from starvation and 
Africa x>felashas - 
— was inspiring f 
are felashasnornor 
black Jew* faring? 

They are riot star 
not oppressed; the 
over their beads. S 
foe army; one was 
Knesset bur most ■ 
Ethiopian Jews — i 
under age 18--— a 
well. They start fror 
Almost all aniv 
which made it hard 
Fathers, who were 
deration older than 
were not raised to I 
Parents spoke no 
could not help c 
homework; as a res 
immigrants come u 

pared at about half d) 
Israelis. Not suipr 
about 12 percent of 
through 12th grad 
with 45 percent of < 
Dropouts are on the 
by youth gangs and 
Uri Tamiat, 28. di; 
Israel Association \ 
Jews, told me last tn 
that “when lads car 
school, they join j g 
the streets. They hav 
something. “■ - " . 

What happens wl 

China’s Economic Reforms Are Gradual but They’re Workings 


B elting — The past two 
decades have been the 
longest period of sustained, rap- 
id modernization in China since 
foe Opium Wars began in the 
mid 19th century. Bat while the 
reforms are fundamental, they 
are incremental in design and 

For China’s leadership, re- 
form is essentially a process of 
learning by doing and continu- 
ous national consensus-building 
to ensare a balanced approach 

and popular unders tanding . A 

collective leadership style, as 
envisaged in China's 1982 con- 
stitution, has emerged in foe last 
five years. While they have in- 
creasing confidence in their 
ability to manage the reforms, 
Chinese leaders continue to 
seek advice from many sources, 
including foe World Bank, and 
study the experience of other 
countries. They try to make sure 
that reforms do not outrun in- 
stitutional capability, as has of- 
ten happened in other transition 

Few elements of the old cen- 
trally planned and closed econ- 
omy are left untouched. For 
large state enterprises, corpor- 
atization and ownership diver- 
sification have become real op- 
tions or even market re- 
quirements. For thousands of 
medium and small state enter- 
prises, owned by lower-level 
governments, privatization is be- 
coming increasingly common. 

To promote efficiency in the 
state sector, China, unlike most 
other transition economies, has 
relied primarily on competition 
policy and management im- 

In 1996, well over 6,000 
mostly small state enterprises 
with no economic future and no 
buyers were closed. Most do- 
mestic prices are now market- 
determined. Budget subsidies 
to loss-making state enterprises 
have been sharply reduced. 
State commercial banks have 
been told to begin cleaning up 
their balance sheets by writing 
off bad debts. Insufficient pro- . 
gross in this area could jeop- 
ardize the entire reform and 
modernization effort and foe 
Chinese know it 
China's fiscal situation re- 
mains weak. It is the Achilles’ 
heel of the reform effort. Total 
budgeL revenues at all levels of 
government account for just 
slightly more than 10 percent of 

By Pieter Bottelier 

gross domestic product, one of 
the lowest such ratios anywhere. 
The building of modem national 
and local tax collection pro- 
grams is a colossal challenge. 

China aims to establish a 
level playing field for state and 
nonstate enterprises, which are 
often more dynamic. Compared 
to noostate enterprises, the state 
sector is overtaxed. This im- 
balance tends to slow down 
state enterprise and hence fi- 
nancial sector reform. It also 
underlines foe critical impor- 
tance for China of learning to 
tax foe constate sector more ef- 
fectively and to eliminate un- 
necessary tax incentives. 

Serious inflation, which 
threatened to derail reforms in 
1994 and 1995, was brought 
under control in 1996 without 
killing growth. Enormous polit- 
ical effort, supported by in- 
creasingly skillful macroeco- 

nomic management was res- 

The huge country’s 
internal economy is 
at last being knit 
together by roads, 
bridges, phones 
and faxes. 

ponsible for this important suc- 
cess. It was a wrenching ex- 
perience from which emerged a 
central bank with real power 
and growing professional com- 
petence. Correcting the remain- 
ing deep-seated structural prob- 
lems in foe economy, however, 
will be a long, difficult and 
painful process. 

The rapid growth of foreign 
direct investment and external 
trade and their importance for 
foe development of coastal 
provinces is well known. The 
development of internal trade 
and markets, including labor 
and financial markets, is not as 
well documented but will be 
equally or more significant in 
the long term. 

China’s internal economy 
was never well integrated. The 
virtual absence of a modem 
communications and transpor- 
tation infrastructure until 20 
years ago kept internal trade ata 
very low level All that is chan- 

ging thanks to rapid technolo- 
gical development and an ex- 
tremely ambitious investment 
program financed largely from 
domestic savings. 

An inteiprovincial highway 
system is under construction. 
The railroads are modernizing. 
Air transportation by some 40 
domestic airlines is growing at 
13 percent a year and foe quality 
of service is improving. The fox 
machine was made for China. It 
has allowed people who speak 
different dialects but use foe 
same characters for words to 
communicate over distance 
with ease for foe first time. More 
than 15 million new telephone 
connections with state of the art 
technology are being installed 
each year. Cellular phones have 
become ubiquitous. 

In 1949 there was no bridge 
across the Yangtze River, di- 
viding North and South. The 
first bridge was constructed with 
Russian assistance and com- 
pleted in 1959. The second was 
built by the Chinese and finished 
in 1969. Since the be ginning of 
foe reforms in 1978, 11 major 
new Yangtze bridges have been 
built Thirteen more are under 
construction or planned 

The effect of all this on do- 
mestic trade, labor mobility and, 
above all, on the attitude and 
thinkug of the Chinese people 
is nothing less than revolution- 
ary. The major parts of China 
are being knitted together as one 
country like never before. 

As internal economic inte- 
gration progresses, domestic 
barriers to competition are com- 
ing down. One of the results of 
this is that better intellectual 
property rights protection has 
now become as much a domes- 
tic as an international trade is- 
sue. Domestic pressures to re- 
place remaining administrative 
discretion with sound compe- 
tition policy and rule of law is 

China is on the move both 
figuratively and literally. 
Masses of “redundant" farm 
laborers are seeking a better life 
elsewhere and have money and 
much greater freedom than be- 
fore to do so. Unneeded work- 
ers in foe state sector are slowly 
being released. Afterretraining, 
most find alternative employ- 
ment in foe more efficient state 
enterprises and in the rapidly 

expanding nonstate sector. 
Many open private businesses, 
often with initial state support. 
A large proportion of foe more 
than 60,000 taxies in Beijing 
started this way. 

Transitional unemployment 
is nonetheless high in some cit- 
ies, perhaps 20 percent or more. 
Some Chinese workers and re- 
tirees are losing out in the tran- 
sition. Social safety nets are be- 
ing built, but they are as yet 
inadequate. Tensions and social 
inequality are rising, presenting 
major challenges to the lead- 
ership, as do worsening envi- 
ronmental pollution and urban 
congestion. The challenges are 
indeed enormous and success is 
not guaranteed. 

So far, a large majority of 
China’s population, both urban 
and rural, has gained from the 
reforms, many significantly. 
Consumer choice has become 
impressive even in small towns. 

Food supply is abundant every- 
, China ‘ 

where. China has become a sig- 
nificant net exporter of food — 
meat, fish, poultry, fruits and 
vegetables — in recent years. 
While incomes are rising, in- 
terest in sports, arts, music, 
fashion and religion is expand- 
ing. High growth is no longer 

limited to coastal provinces.'-^/ 
Two populous interior agnciil-^ 
rural provinces — Anhui and 
Jiangxi — were the growth-, 
leaders in recent years. Though: 
poverty is still severe in many * 
parts of rural China, the in-r. 
cidence has declined signifi-^ 

It is important to remember 
that average income is still be-.,, 
low $700 a year. Yet because oft 
China’s large population, its^ 
economy, however measured^ 
is already considerably huger , 
than those of Russia and Indi^j ' ; 
combined. China is likely to be-^ : , 
come one of the world’s leading^ . , 

economies in the next century. 

China's reforms have a long. wjj 
way to go. but they are on the'' . 
right track. What China needsT 
more than anything is time. It is ! ! 

not easy to turn around an an-; ;* : ; 1 
cient society with a population ~ -?-{ 
larger than all of North and? xij 
South America, foe 15 Euro-"' 
pean Union countries, plus^.P?.^ 
Australia, New Zealand and Is^. l 
rael put together. 

By Tibor Fischer 22 ! 
Reviewed bv Mike 


The writer was the World *:* i j 
Bank's chief of mission 
Beijing for the last 4 ‘A years. Hx. 
contributed this comment to the 1 . . 
International Herald Tribune. " i_ 

n ‘ W 

IN OUR PAGES: 100, 75 AND 50 YEABS Afifl 

1897: Indian Riots End 

CALCUTTA — The disturb- 
ances here have come to an end. 
The Government has concluded 
an agreement with the rioters. 
The trouble is about a Mo- 
hammedan mosque. It is esti- 
mated that at one time a body of 
over 5,000 rioters held the north- 
east portion of the town. The 
European and native police be- 
haved admirably, facing their 
dangerous duties with unflinch- 
ing courage. They did not escape 
a good deal of rough handling. 

singers and artists,, contribute 2 
from their receipts to the upkeeps 
of a hospital for the urchins of foes 
9th and 18 th Arrondissements of . 
Paris. M. Boyer will makea tour 
of America singing. . — 

T HE collector c 
her’s third no 
cient Sumerian bo 
household item, F5 
bowl with soul” i 
millennia with c 
and a supernatural 
into other pieces c 

With nothing Q 

over the years, or 
becoming .a cata 
human: It has noli 
and 2,234 classes 
telling the inuh aj 
forms of plainne: 
types of surprise. 

Fischer uses th 
people behave ,wh 
get to see the nhfh 
Not necessarily , th 
tainly the side peoc 
see. . . . Minister s u 
nail-biting. Und«^ 

Our narrator’ 
Rosa, a young i 
London, is (me c 
can sense that tt 
ferent about this 
possession. Wha 
her hands, it spea 
tales through her 

The bowl tells 
most captivating 
novel — of its pas 
a dark theme tha 
and absurd and 

someone being b, 

frozen iguana (a 

1947: East- West Split — 

PARIS — Completebreakdowor 
of the conference of foe Foreign^ 

By Alan Trusci 

1922. Montmartre Ties 

PARIS — Diplomatic relations 
between the comic opera Re- 
public of Montmartre and foe 
United States have been estab- 
lished by the appointment of M. 
Lucien Boyer to watch over the 
interests of the little common- 
wesfoh. The purpose of the Re- 
public of Montmartre is not only 
jest and folly, as all its members. 

Ministers of Great 8rinun_j- 
France and Soviet Russia earner, 
yesterday afternoon [July ?] in , 
grim meeting during which tb&* J 
ministers of France and Britain^', 
on the one side, and Russia ong 
the other exchanged threats. Th^ ; 
conference ended with birierv'- 
words over whether the propos-q 
al of Secretary of State MarshaiL 
meant a Western attempt to. 1 
dominate other nations. The^ 
vehemence of foe speakers and - 
the tragic air which surrounded^ 
this last meeting convinced alft 


concerned that the long-feared. 
East- West division of the world " 
bad at last become a reality. 


erLearn 8 

utollt? to use a-uir, ; 
hai •- 

wtsKioiV token L 

SjUdUlT.'s !£Jfi.-!or, // ' 

!«. to ihut orf cV,:;;., !' ,: 'i 
tens whu unptKcJ 


tiicwnttvc :• 

Iliosjw!. Lhat 
Xgret.” Mya. ki K ;-. 

5S tap Middle Eu- j 
e HdUW. "Wj 4 

sf informed, and j r ,K?, •: 
iflucnctf. if y.c h A - r...| 
vtficy liut we :«i|. : 

>e the chances ;ji u -\ .. 
i-ynufccrs w.'iU m -• ; .V , ' 

c VtffMun of hiin.:;. '■ 

iiS*jod. panic l r ' 

glam JfoVfike.; 
il’lhfi CJ.nU.l: V-L;,. 

:4«d toput u!A 
itt hchavitM ,T . 

*icvs. A br:cl ; . . 

: Time* reined . . ' ■ 1 

point’s, ami Th ; . ... " 

of csen renew ; ‘ •" I 

Main ifedseic.; ) 

.»e of Kuw as! ' : 
have the • .. '■*■ 

It'<h ft.'unc ^r-. .. ; r \ 

. attention sr.. : ‘ 0 • 

Israel Needs to Do More 
For the Tribe It Rescued 

By William S afin * 

riageable Ethiopian woman 

falls in love with a young Ethiopi- 
an man in IsraeL Both are Jewish, 
r -~ but their parents refuse approval 
'J . o i their marriage because family 
j records show they share a great- 

■■■■: Years later, she chooses a white 

: < European Jew, This time, her fam- 

r£ly elders approve; that’s because 
'^Ethiopian Jewish tradition, while 
fotbidding marriage within an ex- 
tended family that, can number a 
thousand, finds manying a Jew 
- outside that family acceptable. 

Nonsensical? On the contrary; 
by instinctively adhering to such 
: : strict rules, the tribe of Israelites 
f < that wandered into Africa almost 
1 3,000 years ago was able to main- 
I tain its religious and cultural iden- 
1 dty without degrading its genetic 

Most of the 60,000 

!; Ethiopian Jews are 
not doing well 

>bal Actii 

‘ ^ pool. The tribe's survival with tra- 
- dition intact was near-miraculous. 
The rescue of its members by Is- 
rael, with American airborne help, 
from starvation and persecution in 
Africa as felashas — “outsiders” 
— was inspiring. Now that they 
are felashas no more, bow are the 
black Jews faring? 

They are not starving; they are 
not oppressed; they have roofs 

--Mire over 

heads. Some serve in 

the army; one was elected to the 
■«cn Dt- Knesset; but most of the 60,000 
Ethiopian Jews — more than half 
f| G under age 18 — axe not doing 
.. re welt They stan from way behind. 

r Almost all arrived illiterate, 
a !« which made it hard to rind work. 
T~t ^Fathers, who were often a gen- 
:'< c / erahon older than their wives, 
IB,--; were not raised to be go-getters. 

. . ’ iT Parents spoke no Hebrew and 
could not help children with 
: homework; as a result, Ethiopian 
immigrants come to school pre- 

A Sign of the Times? Seers Predict Deng’s Return 

By Veii sari os Kattoalas 

- istxy of Education is accused of 
i assigning Ethiopian Jews to weak 

- schools and not supplying books 
, and ' materials? Defensiveness 
1 reigns; a bureaucrat proudly 

r points to an uncut budget and is- . 

■ sues a release warning critics not 
to keep publicizing “weaknesses 
: and failures." 

Rabbi Micha Odenheimerof Je- 
! rusalem has a better idea. He calls . 

! for Head Stan education starting at 
age 2; a measurable, accountable 
target of literacy by the end of 
third grade; after-school courses 
in mathematics and computers; in- 
tegration of Ethiopian kids into 
high-level high schools near 
home, and a hundred more youth 
workers like Uri Tamiat to rescue 
dropouts. This requires more than j 
more money. Urgeatly needed is a 
public-private task force, report- 
ing to the prime minister, run full- 
time by a red-tape cutter and 
‘ ^china-breaker on the order of a 35- 
yearold Ariel Sharon. 

Whenever I by this on Benjamin 
Netanyahu, he gives me a you-bet, 
great-idea — followed by no fol- 
low-up. Natan Sharansky, head of 
the Ministerial Committee on Ab- 
sorption, shows little grasp of the 
danger or the opportunity, and his 
constituency resents extra aid giv- 

- etr other immigrants. A council of 
Israeli industrialists, alarmed by 
Ethiopian suicides in the Israeli 
Army, is w illing to help with job 
training and work opportunities but 
needs coordination. The American 
Jewish Joint Distribution Commit- 
tee in New York knows what is 
needed but isn't pushy enough. 

Doesn 't anybody see die down- " 
side risk? The Jew who discrim- 
inates against Ethiopian immi- 
grants is anti-Semitic. To all the ~ 
immediate dangers Israel faces, 1 
add this long-term danger: mak- 
ing the old American mistake of 
allowing the creation of an im- * 
poverished, welfare-dependent 
underclass. And doesn’t anybody 
see die upside potential? The Jew- 
ishness of these black Africans is C 
Israel’s antidote to racism. Of all I* 

H ONG KONG— Like Moses 
leading the Israelites 
through the wilderness but dying 
in sight of the Promised Lana, 
Deng Xiaoping engineered the 
return of Hong Kong to China but 
“went to meet Marx” without 
witnessing the handover. 

Reminders of Mr, Deng, who 
dreamed of visiting this thriving 
metropolis before his death, are 
everywhere this week. His image 


is splashed on murals across cap- 
italist Hong Kong. His widow, 
Zhuo Lin, and a daughter atten- 
ded the ceremony returning 
Hong Kong to China at midnight 
on Monday after 155 years as a 
British colony. 

Official Chinese media in- 
voked his words and deeds in a 
continuing campaign to slow the 
spread of corrosive Western 
ideas and promote the chaste vaM 
ues of communism: hard work, 
self-sacrifice and devotion to the 
party. And in speeches celebrat- 
ing Hong Kong's return to the 
Middle Kingdom, Hong Kong 
Chief Executive Tung Chee-hwa 
and President Jiang Zemin of 
China both lauded Mr. Deng, 
who in Mao Zedong’s words 
“went to meet Marx” in Feb- 
ruary at age 92. 

“We deeply miss our beloved 
Comrade Deng Xiaoping,” the 
People's Daily said in probably 
tiie week’s most emotional trib- 
ute to the architect of the “one 

country, two systems” formula 
under which Hong Kong is to 
retain its freewheeling, capitalist 
way of life for 50 years. 

“Hold high Deng Xiaoping’s 
great banner of building social- 
ism with Chinese characteris- 
tics.” the official Communist 
Party newspaper said, referring 
to Mr. Deng's fig-leaf phrase to 
justify his support for un-Marxist 
concepts such as free markets, 
private enterprise and stock ex- 
changes — all anathema to his 
predecessor, Mao. 

Yet C hina needn’t have 
bothered mounting Mr. Deng 
afresh, because — according to 
soothsayers at a Buddhist temple 
in Hong Kong famous for the 
accuracy of its oracles — he ap- 
pears poised for a comeback. 

“Deng Xiaoping was a good 
man because he saved a lot of 

Deng is preparing 
for reincarnation 
a decade from now . 
Don 9 t ask any 


At the peak of Hong Kong . 

lives, and he is going to come 
back to save some more,” said 
Amelia Chow, a soothsayer at the 
Wong Tai Sin temple. 

“Deng is probably going to 
come back as a man, and he will 
be powerful again because he 
was a personality wbo attracted 

power like a magnet attracts 

Mr. Deng is often praised for 
modernizing China’s backward 
economy after he became para- 
mount leader in 1979 ana for 
improving the lives of the peas- 
ants, who account for the bulk of 
China's 1.2 billion people. 

At the same time, he is blamed 
by many worldwide for the death 
of scores of democracy activists 
in a military crackdown in 
Tiananmen Square on June 4, 
1989, although apologists insist 
his brutality saved China from 

slipping into a far more lethal 

Richard Tsui, another of about 
100 soothsayers at the temple 
that is surrounded by the ubi- 
quitous apartment towers of urb- 
an Hong Kong, also said Mr. 
Deng would be back. 

“Ten years,” he said. "Deng 
is preparing for reincarnation a 
decade from now. Don't ask any 

Whether the soothsayers are 
kowtowing to Hong Kong's new 
rulers in Beijing is hard to tell. 
But they look convincing, sur- 

rounded in tiny air-conditioned 
booths by small Buddhas, in- 
cense and drawings illustrating 
the age points and energy lines 
that cover the human face and 
hands, according to Chinese be- 

Either way, the response of 
one of Hong Kong's 6.3 million 
mainly Chinese residents to the 
news that Mr. Deng might be 
back was swift, succinct and typ- 
ical of Hong Kong. 

"Not scientifically proven,” 
she said. 

Inieniafiuntil Heitiltl Tribune 


pared at about half the rate of other Jhe chances to be a light unto the 
Israelis. Not surprisingly, only nations — not merely to win dip- 

• about 12 percent of them make it 
through 12th grade, compared 

- until 45 percent of other Israelis. 
Dropouts are on the rise, followed 
by youth gangs and petty crime. 
Uri Tamiat, 28, director of the 
Israel Association for Ethiopian 
Jews, told me last month in Israel 

^ “when, kids can't keep up m 
scbogl^ they j oin a gang antfroaxo 
the streets. They have to belong to 

- What happens when the M3n- 

Iotnatic friends in Africa, but to 
bring together blacks and Jews 
everywhere — no opportunity is 
riper for Israeli Jews and Arabs 
than to ensure equal opportunity 
for their Ethiopian compatriots. 

Anybody would be sold on this 
by Shula Mo la, 25, an Ethiopian 

What NATO Wrought 

Regarding " Obstructionist 

NATO” (Letters, June 27): 

The writer says that NATO 
forces “obstructed any meaning- 
ful action in Bosnia.' ’ What about 
Operation Deny Flight, which 
leveled the playing field, restrict- 
ing tiie Serbs’ advantage in air 
power? What about Operation 
Deliberate Force, involving three 
weeks of air strikes against Ser- 
bian military targets, which ended 
the Serbs’ bombardment of Sa- 
rajevo. made them pull back their 
heavy weapons and established 
free access to Sarajevo? What 

and finally put enough militaiy 
pressure on the Serbs to bring 
them to a negotiated settlement, 
the Dayton peace agreement 

Montcuq, France. 

‘Hl~Gotten Gains’ 

Regarding ‘.‘Should America 
Pay Damages to Blacks?” (Opin- 
ion, June 3) by William Rasp- 

I agree that America is in debt 
to blacks. Much of the wealth of 
America has as its seed the slave 
labor that helped to establish the 
country as an economic power. 

But why not go back further 

by Shula Mola, 25, an Ethiopian about Operation Sharp Guard, in- But why not go back further 
Jew .determined, to. become a . . volvjng NATO ships, which, ; and : c^u4ue,.wjiat Mfe.qwe.the, ; 
Uaipher,. “Top. many people, think.. ..toned^the ,l^{.em|mrgo affiunqg',; N^eAmeric^ Wfi E&kPd Slid - 
wp ^canriot do well: They .should .-'$grnuggUBg?-: l ... !; | t .j ■ . , . . ,sia»gbterqd a and: continue;, to marr. .. 

expect more of us.” • ■ • . ' It, was NATO’s aggressive ac- gioal ize even r today? IsiAmerica' 

The New York Timer. lions that contained the conflict entitled to keep these ill-gotten . 

gains? The Swiss Nazi -gold 
fiasco is small potatoes by com- 

Le Cannet, France. 

Men Weigh In Late 

Now that Mike Tyson has bitten 
a man ’s ear, we hear from men; 
“There’s something really wrong 
with this guy. He’s a bad man; he's 
messed op.” Committing rape did 
not ruin the hero's reputation, but 
committing a boxing foul might? 
Doesn't men’s gut feeling about 
which behaviors sully “male hon- 
or” need rethinking? 


,’i v j*. .v : • Osip... • 

Connection” (Art. May 24) by Ro- 
derick Conway Morris: 

In his otherwise excellent re- 
view of the exhibition of Flemish 
and Dutch painting at thePaJazzo 
Grassi in Venice, the writer 
quoted an unidentified architect as 
saying that “Belgium's dense 
population and uncontrolled 
dormitoryctown sprawl has made 
it beyond dispute tiie ugliest coun- 
try in the world.” 

I was quite disturbed that the 
writer would even consider repeat- 
ing such an outrageous statement. 

In my many years in Belgium I 
have never ventured far without 
marveling at the sheer beauty to be 
found not only in its many ar- 
chitectural splendors — such as 
buildings in the art deco style, me- 

smuggting? : ;, rj r .j • ., slaughtered, and marr. The Beauties of RelcRim dievaJ remains, chateaux andmany 

. ’ It, was NATO’s aggressive ac- ginal ize even r today? Is-r America' • • • ■ superb villas — but also in the care 

lions that contained the conflict entitled to keep these illrgotten ■ Regarding “ The North-South lavished on its forests and paries. 

Surely the architect in question 
has never seen beyond the row 
houses, although many still have 
carriage entrances intact that re- 
call an earlier, more gracious way 
of life, and even the less pre- 
tentious ones usually have small, 
enclosed rear gardens and/or 
small from gardens, rarely with- 
out a profusion of flowers and 



Letters intended fur publication 
should he addressed ” Letters to 
the Editor" and contain the 
writer's signature, name and full 
address. Letters should he brief 
and are subject to editing. We can- 
not be responsible for the return of 
unsolicited manuscripts. 


•e Working 


By Tibor Fischer. 221 pages. $23. 

| Reviewed by Mike Musgrove 

T HE collector collector of Tibor Fisc- 
her’s third novel is ceramic, an an- 
cient Sumerian bowL Not your everyday 
household item, Fischer's narrator is “the 
bowl with soul” and has weathered the 
millennia with consciousness, attitude 
and a supernatural ability to remake itself 
into other pieces of crockery at wilL 
With nothing to do but people-watch 
over the years, our hero has seen it all, 
becoming a cataloguer of everything 
human: It has noted 166 classes of nose 
and 2,234 classes of navel, 91 ways of 
telling the truth and 210 ways of lying, 
640 forms of allure (20 of which are also 
forms of plainness) and a total of 92 
types of surprise. 

. Fischer uses tiie bowl to reveal how 
people behave when they are alone: “I 
get to see the unflattering side of people. , 
Not necessarily the. worst side; but cer- 
tainly the sidepeople don’t want others to 
see. ... Ministers thumb-sucking. Heroes 
nail-biting. Underwear run for days. 
Judges pretending to be goats, badly.” 

. Our narrator's current custodian, 
Rosa, a young an appraiser in south 
London, is one of the few people who 
can sense that there is something dif- 
ferent about this item in her temporary 
possession. When she holds tiie-bowlin . 
her hands, it speaks co her, transmitting 
tales through her pores to her subcon- 

The bowl tells stories — some of the 
most captivating sections of this short 
novel — of Us past owners, variations on 
a dark theme that life is heartbreaking 
and absurd and occasionally ends with 
someone being bludgeoned to death by a 
frozen iguana (a running joke, iguanas 

make a number of appearances In "The 
Collector Collector," as entree or 

Rosa is a good person, ridiculously 
good — the type who gives blood, gives 
to charity, helps old ladies across the 
road, doesn’t play music loud, doesn’t 
litter, declares all her income, and so on. 
Problem is, none of her winning qual- 
ities has helped her land Mr. Right, and 
out of sheer desperation she has kid- 
napped an advice columnist and stashed 
her in a well, determined to bold the 
hapless scribbler hostage until her 
pointers help Rosa find love. 

Meanwhile, Nikki, Rosa’s sponging 
taouseguest, who lists prostitution, in- 
travenous drug use, ana mail-tampering 
among hex less heinous crimes, is having 
□o difficulty in receiving attentions from 
policemen, washer repairmen, Jehovah’s 
Witnesses and trapeze artists. But Nikki 
has her own problems, among them 
avoiding the occasional assassin sent by 
former lovers and/or victims of hex mis- 
deeds, and getting a good price for all the 
stuff she's stealing from Rosa’s apart- 

Romance finally arrives on Rosa’s 
doorstep as a result of Nikki’s parting 
rip-off, which comes after the bowl has 
bad a chance to use its shape-shifting 
ability to surreptitiously save the day 
from a spiky-haired assassin who calls 
hims elf ‘ ‘Mr. Annihilalor’ ’ (“Ann” for 

. Readers of Fischer's previous novels, 
“Under the Frog” and “The Thought 
Gang,” will recognize the rampant 
randiness, inspired wordplay, and sud- 
den, comic violence that have become 
his trademarks. Indeed, these are the only 
qualities that his diverse books have in 

I love Fischer’s novels and think 
everyone should read them. However, 
with each book Fischer has become 


more infatuated with his protagonists 
and fallen more out of sorts with the rest 
of the world at the expense of his fiction. 
In “Under the Frog,” which tells the 
stories of a group of young basketball 
players scraping by in post- World War 
Q Hungary (Fischer himself was bom in 
London of Hungarian parents), even the 
secret policemen, who are evil and om- 
inous in that way that only secret po- 
licemen can ever really be, ore given 
recognizably human touches. 

No writer who makes an inanimate 
object a central character (and pulls it off 
well) can be accused of laziness or un- 
creativity. It is, though, a little simplistic 
to use excessive riches, a law degree, or 
a penchant for bodybuilding as a short- 
hand indicator that a particular character 
is a buffoon and not to be liked — even 
if we do know what Fischer’s talking 
about Conversely, Rosa is really too 
pore, too good, to be entirely believed. 
The bowl, which is given little tics such 
as a disdain for Gorgon vases, seems 
more human, somehow. “The Collector 
Collector” isn’t Fischer's strongest 
novel, but it is a likable and highly 
entertaining book from a writer wbo is 
gifted with formidable imagination, soul 
and an admirable detemunation not to 
repeat himself — or anyone else, for that 
matter- Now we have to sit back and wait | 
another year or two for his next one. 

Mike Musgrove, a Washington writer, 
wrote this for The Washington Post. 

CaH to order 1 
this book... 

._or 350,000 other ' 
titles. aiKtipped to 
you from the U.S. 

fr; 33 ffi 1 38 07 8101 Be 38 W 1 33 WOO 77. 

By Alan Trascott 

M OST people would be 
unhappy if their depar- 
ture caused pleasure, but 
Laura Drill and Rick Gold- 
stein of White Plains were 
flattered. It happened at the 

* JS43 

0 18 4 
4 JB • 

+ J42 

♦ QS 
. G K 10 9 6 

recently.. In the first three 
days they had won the Open 
Pairs, the Swiss Teams and 
another Open Pairs. This sen- 
timent appeared in die daily 
bufletiog on the fourth morn- 
ing: “Thank heaven they are 
leaving today. Now maybe 
somebody else can win 

Brill and Goldstein are the 


* A 

0 752 

♦ AKQB5 

Neither Side was vulnerable. Tha bid- 




West led the heart lift. 









. Pass 




co-owners, 1 with Cliff and 
Rose Meltzer, of the Bridge 
Deck in ScatsdaJe, New 
York. The diagramed deal 
helped them achieve a 
Saratoga victoiy. . 

Brill as Sooth landed in six 
hearts, which appears to stand 
or fall on the diamond finesse. 
She won the tzump lead with 
her jack and led to die king. 
She then cashed the spade ace 
and three top clubs, discard- 
ing diamonds from the 
dummy. Next she ruffed a 
club with the heart eight, and 
ruffed a spade reaching the 
position shown at right: 

The club eight was led, and 
a spade was thrown from die 
dummy. If East had ruffed, he 
would have to make a fatal 

lead from the diamond king. 
He chose to discard a dia- 
mond, but that was no better. 
Brill led to the diamond ace 
and ruffed a spade,- making 
her slam. 

6 AQ 


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PAGE 10 



The Druid Peak Pack and Big Mama, a Wolf Success Saga 

By William K. Stevens 

New York Times Service 

AL PARK, Wyoming — 
Early on a crystalline lone 
morning, as sunlight began to 
brighten the peaks, forests and green 
meadows of the Northern Rockies, the 
wolves known as Yellowstone’s pack 
from hell were already at work. 

Confidently, almost nonchalantly, 
five of die six adult members of what is 
formally called the Druid Peak pack 
patrolled their territory, sniffing the 
ground and depositing urine scent marks 
along an open hillside studded with 
patches of Douglas fir. spruce and aspen. 
Only 300 yards from a well-traveled 
road, a big gray female beaded the single 
file, with the dominant pack member 
strolling along third in un© — a 122- 
pound gray wolf, his outstretched, rigid 
tail advertising his status as alpha male. 

He is no ordinary animal. BanreJ- 
chested, powerful and aggressive even 
for a wolf (one scientist likened him to a 
linebacker), he ripped the bars out of an 
aluminum cage m which federal sci- 
entists transported him from Canada last 
year. “Right away we knew he was 
different,” said Dr. Douglas W. Smith, 
a wolf biologist for the National Park 
Service who directs the re-introduction 

Thirty-Eight, as this formidable 
creature is named, is part of what is 
widely bailed as a spectacularly suc- 
cessful effort to re-establish wolves in 
Yellowstone National Park. He solid- 
ified his reputation soon after arriving 
here by leading (he Druids in a territorial 
raid on a longer-established wolf fam- 
ily, the Crystal Creek pack. The Druids 
killed the opposing alpha male and aU 
his young offspring, banished the bleed- 
ing adult survivors to another part of the 
park and took over their den. 

Since then the pack has killed two 
more adult wolves, earning it nick- 
names like the Pack from Hell and 
the Dreadful Druids. “They are a 

Ban, aui Ten O-tfsB lorTWfci* YwfcTnnw NYT nwp 

Big Mama, aka Nine, the matriarch of Yellowstone National Park wolfdom ; she has the park’s biggest pack, with seven members. 

bunch of hoodlums/’ Dr. Smith said. 

In an enterprise that has restored the 
only missing piece to Yellowstone’s 
renowned array of big mammal species, 
41 wolves have been transplanted to the 
park from western Canada and northern 
Montana since January 1995, and they 
and their offspring have produced an 
estimated 60 to 70 pups. (The exact num- 
ber will not be known until early winter, 
when tins year’s pups axe nearly grown 
and a better count can be made. ) Since the 
program started. 10 pups and 10 adults 
have died from various causes. 

Here, on an open and easily access- 
ible stage, the day-to-day struggles that 
determine long-term evolutionary dom- 
inance are on unusually clear display. 

And in this arena it turns out that for all 
their aggression, the Druids have so far 
been eclipsed by another group, the 
Rose Creek pack, and especially by its 
central figure. 

She is an aging, long-suffering, char- 
coal-colored alpha female, called Rosie 
by some. Mom or Big Mama by others, 
but simply Nine ( the number assigned to 
her when sbe was transported from 
Canada in 1995) by most. With seven 
adult members, her pack is the largest of 
nine in and around the park. 

Only 30 months after the first wolves 
were transplanted here, there may be as 
many as 100 ranging freely hereabouts. If 
tilings keep going this way, federal of- 
ficials say, it may be possible to lake the 

wolves off the federal endangered list by 
2001. ahead of the projected schedule. 
More than any other Yellowstone wolf. 
Nine is responsible for this success: Al- 
most half the wolves here are ter children 
or grandchildren. An older daughter has 
formed a pack of her own, the fust nat- 

urally formed such family grouping here 
since wolves were exterminated from 
Yellowstone by the government in 1926. 

Nine attracted widespread attention 
two years ago when her original Yel- 
lowstone mate. Ten, was shot and killed, 
leaving her to fend for herself and eight 

pups, the first bom of fee reSr.- ; 

[oration experiment Now she** 
only has the upper hand in terms of “ 
reproductive and genetic dominance/ 
she and her group have also shewn their 
strength in battle, aggressivel^driyii® 
off the invading Druids. Bui We was a 
price. One ofher yearling 
fng his oats,” Smith said — *pparrat|y . 
pursued the fleeing Dniids aJop& They 
turned and killed him: And jesta few 
weeks ago, the Droids caugh^one df 
Nine’s daughters alone and kiBfed ha;, 
too The daughter’s pups, one rif few 
year’s three Rose Creek Otters, feed. : 

OW there seems to be Ja 
standoff in this evolutionary 
numbers game, albeit iten»- 

ous one, since fee: Rose 

Creek and Druid Peak territories abut 
each other. Nine has surmounted jail this 
and more to emerge grayer, distin- 
guished looking and a near-legend. If 
anyone ever erects a statue of a wolf in 
Yellowstone, says Smith, ‘‘it should!* 
her.” „ , i 

In all, an estimated 85 to 95 wolves 
now live here, and Smith says that given 
normal reproduction rates there could 
well mm out to be 100 when the count is 
complete. Officials of -fee Northern 
Rockies wolf recovery program say that 
no more introductions are necessary to 
meet fee goal of removing the wolf frofl^fl 
the endangered list Natural reproduc- 
tion, they say, should do the rest 4 
“We could de-list by Dec. 31,2000/' 
said Ed Bangs, a biologist with fee 
federal Fish and Wildlife Service, based 
in Helena, Montana. ' 

A Backlash in Managed Care 

Preventing Sight Degeneration 

By Jane E. Brody 

New York Tunes Service 

EW YORK — Do door 
frames, telephone poles and 
the edges of buildings ap- 
pear bent or crooked, as if 
you were looking at them through heat 
waves on a highway? 

Do objects at a distance seem clear 
but those up close are blurry, or vice 
versa? When you cover one eye and 
then fee other, do you noticeacbange in 
the color or size of objects? Is there a 
bluny or blank spot in the middle of 
your visual field, as if a flash bulb had 
just gone off in your face? 

Do not assume that you need new 
glasses and can wait weeks for a con- 
venient appointment. See your ophthal- 
mologist right away. Accept no delays. 
Any of these visual distortions may be 
an early symptom of age-related mac- 
ular degeneration, a loss of central vi- 
sion that is fee leading cause of legal 
blindness in fee United States. Any 
delay in getting a proper diagnosis and 
starting treatments to slow or stop fee 
progress of this disease can hasten fee 
day when you may no longer be able to 
read, drive or recognize faces. 

Even if you have no such symptoms, 
if you are over 50 and have not had your 
eyes examined for several years, make 
an appointment to do so now. The earli- 
est stages of macular degeneration pro- 
duce no symptoms, though early signs 
of this irreversible condition can be de- 
tected through a complete eye exam- 

The macula is a tiny, highly sensitive 
region in the center of the retina that 
allows you to see fine details when you 
look directly at something. The macula 

also contains an intense concentration 
of pigmented cells, which enable you to 
see colors. Without a properly func- 
tioning macula, your central vision be- 
comes increasingly impaired, though 
you will retain peripheral vision in 
shades of black and white. 

Wife advancing age, die macula is 
subject to deterioration in one of two 
ways. It may become thin and sprinkled 
wife small yellow spots, called drusen. 
which show up during a retinal exam 
when your pupils are dilated. About 90 
percent of age-related macular degen- 
eration is this so-called dry form, which 
may progress slowly, rapidly or not at 
alL But eye specialists are unable to 
predict the likelihood or speed of pro- 
gression. Therefore, everyone wife 
early stages of this problem would be 
wise to follow suggestions feat may 
keep it from getting worse. 

The remaining 10 percent of cases, 
the so-called wet form of macular de- 
generation, are more serious and more 
predictable. They result from an ab- 
normal growth of new blood vessels 
beneath fee retina, which pushes up fee 
macula tike tree roots under a side- 

These vessels are fragile and may 
leak cell-damaging blood and fluids into 
this visually critical region, form scai 
tissue and cause a rapid deterioration of 
central vision. 

Macular degeneration is rare in 
people under 50, but its incidence rises 
wife age. Nearly a quarter of people 65 
and older have some manifestations of 
this disease. A recent five-year study of 
3,583 Caucasian adults from 43 to 84 by 
Dr. Ronald Klein and his colleagues at 
the University of Wisconsin in Madison 
found that 30 percent of adults 75 and 

older had early signs of the disease and 
23 percent would develop fee condition 
within five years. As more people live to 
advanced ages, experts predict, fee dis- 
ease will affect 6.3 million Americans 
by 2030. 

Heredity, race and a person's sex play 
a role in susceptibility to macular de- 
generation. Whites are more susceptible 
than blacks, and Hispanics and women 
are twice ?s susceptible as men in gen- 

But the main underlying cause is ox- 
idative damage to the delicate cells of 
fee macula. This damage results from 
highly reactive substances called free 
radicals, which are continually formed 
within the body and through exposures 
to outside agents. People may be unable 
to counter free-radical damage if their 
diets are deficient in fruits and vege- 
tables feat are rich in anti-oxidants or if 
they consume a lot of alcohol or sat- 
urated fats and cholesterol. 

XPOSURE to the blue and 
ultraviolet rays of sunlight 
also generates free radicals in 

By David S. Hilzenrath 

Washington Post Sen ice 

ASHINGTON — A polit- 
ical backlash is budding 
against managed care 
across the United States as 
doctors and patients protest what they 
see as potentially dangerous penny- 
pinching by the health-care industry. 

In Missouri, fee governor last month 
signed a bill requiring managed-care 
companies to pay for emergency room 
visits whenever a “prudent layperson” 
would have reason to believe that im- 
mediate care is needed, even if a man- 
aged-care administrator might disagree. 
In Hartford, Connecticut, center of fee 
U.S. insurance industry, fee state leg- 
islature last month approved a bill feat 
would allow patients to appeal to fee 
state insurance commissioner when 
health plans decide not to pay for their 
medical treatment And Texas last 
month made it possible for consumers to 
sue health maintenance organizations for 
medical malpractice, removing a barrier 
feat had shielded them from liability. 

The legislation reflects consumer 
frustration with managed care, the cost- 
conscious form of health insurance that 
has grown over fee past decade from 
obscurity to cover an estimated three- 
quarters of the private-sector workers in 
fee United States. 

Doctors and patients have been call- 
ing for curbs on fee managed-care in- 
dustry’s powers, arguing feat some 
companies are profiteering at fee ex- 

■■■ the retina, especially in people pense of patient care, making it difficult 
with light-colored eyes. Tobacco smoke for people to get quality medical at- 

is another source of free radicals and a 
major reason for the increase in macular 
degeneration among Americans. 

A study published last October in The 
Journal of the American Medical As- 
sociation, which followed 21,157 ini- 
tially healthy male doctors for at least 
seven years, showed that those who 
smoked a pack or more a day were two 
and a half times as likely to develop 
macular degeneration as those who bad 
never smoked. Among men who were 
former smokers, the increase in risk was 
about 30 percent. 


tention. Officials in dozens of states have 
responded by stitching together a patch- 
work quilt of new regulations. Some of 

fee measures have passed by over- 
whelming, even unanimous, margins. 

In Washington, fee budget bill passed 
by fee House Iasi month would strike at 
managed care's jugular by requiring 
Medicare HMOs to defer to doctors on 
big decisions about coverage. For ex- 
ample. the bill would give fee doctor 
final say over fee length of a covered 
hospital stay. 

Some people are worried fear fee 
movement threatens to undermine man- 
aged. care’s success in containing 
health-care costs. Many of the “patient 
protections” are more like “doctor pro- 
tections,” inspired by physicians who 
are feeling the financial squeeze, the 
opponents said. But even some rep- 
resentatives of fee managed-care in- 
dustry acknowledge that the campaign 
has gained considerable momentum. 

wien fee Missouri legislature took 
up its broad managed-care bill, which 
included fee provision on emergency 
room visits, “people couldn't vote 
against this bill.” said Randy Schen, a 
lobbyist for HMOs. “Ithad to be the No. 
1 back-home response issue for most of 
fee legislators." 

Steve Ehlmann, fee Missouri Senate 
minority leader and a Republican, said he 
asked constituents about managed care 
in his annual legislative survey, and “I 
was amazed that like S5 percent basically 
said, ‘It's broken, you need to fix it’ 

“The people who are complaining 
the loudest are the people you see every 
day on the street,” said Mr. Ehlmann, 
who voted for Missouri’s managed-care 
bill. “They are the doctors and fee con- 
sumers, and they all have a horror story 
to tell you about fee insurance company 
chat wouldn’t pay on the claim.” 

Four years ago. President Bill Clinton 

tried and failed to overhaul a health-care 
system in which costs were virtually 
unchecked and rising faster than feje 
nation's ability to pay. Managed care 
filled fee void with a variety of cosi^ 
saving measures, such as restricting pa- 
tients’ access to medical specialists; 
limiting patients' choice of physicians; 
and reducing the length and frequency 
of hospital stays. ■ 

Other cost-saving techniques include: 
giving doctors pay incentives to practice 
efficient — some say parsimonious -4- 
medicine; measuring individual physj- 
cians’ use of medical resources, ami 
requiring doctors and patients to obtain 
approval for coverage of expensive tests 
and treatments, from 1992 and 1996, 
fee percentage of workers covered by 
managed care grew to 77 percent from 
49 percent at businesses wife lOormore 
employees, according to surveys by the 
consulting firm Foster Higgins. The cost 
of health-care benefits, which was 
climbing by 10.1 percent in 1992, rose 
by 2.5 percent last year, slower than fee 
economy's overall 2.9 percent inflation 
rate, Foster Higgins reported. 

N a February poll by Louis Harris 
and Associates, 38 percent of re- 
spondents said they believe man- 
aged-care companies such as 
HMOs "generally do a bad job of 
serving their customers." In a Novem- 
ber survey by the Kaiser Family Foun-| 
dad on and the Harvard School of Public 
Health, 54 percent said “government 
needs to protect consumers from being 
treated unfairly and not getting the care 
they should from managed-care plans." 
Managed-care executives and lobbyists 
say their own research finds a high level 
of customer satisfaction. 


Under- Statements From Gucci 



1 Behind 
4 Group 

overseeing Fed. 

7 Playboy Hugh, 

to Rooked 

» 3 Working 
together, with 

15 One reason to 
do something 
17 Sharp 
ia Plain 
IS Ask 



Tel Paris: +33 (0)1426835 85 
Fax Paris: +33 (0)1 42 68 35 61 

20 Night temps, 

22 Nintendo'a The 

Legend of 

23 'Are you 

25 Parmer of 

26 Masters 
2 a "Diane lies" 


30 Math finale 

33 Hotelier 

34 Prior to, 



36 Some relics 

37 1995 Robin 
Williams movie 

sa Lightly cooked 

39 Germanic 


40 BJuegrass 

41 ‘LA. Law' 

42 'The Tonight 

43 Former U.S. 
poet laureate 

44 European 
shipping units 

45 First name in 

47 Shoddy 
4s It shows the 

Sf Similar 
52 Katharine's role 
in ‘Adam's Rib" 
55 Wild 
57 Intelligent 

as Trapped 

61 Adas abbr. 

62 Passing need’ 

63 Stan to collapse 

64 Popular music 


1 Boarding sch. 

2 Come to grips 

3 Classic 1956 
spy film 

4 Chunk 

s Artificial legs 

■ It may be 
secured with a 

7 Monopolizes 

■ Compass 

9 Amateur 

10 Popular light 

11 Parched 

12 Numerical prefix 

14 Predestines 

16 Consider 
21 Big name in 
radio, once 

24 Spring playoffs 

25 Geometrical 

2 £ Hardly strutted 
27 Eagle's home 



31 "Sesame 
Street* regular 

32 Big blockers 

34 West End classic 

‘Charley's " 

37 Clink 

as Like magazine 
40 Buds are 
produced in this 
41 'Now — 
theater near 

44 Lady abroad 
4« It's shocking! 

48 Handles 

50 Awestruck 

51 Toward water 










a — 









5S 1 





















Praia by Brandan EnoenChiglsr 


















3 a 















®New York Times/Edited br Will Shorts. 

Solution to Puzzle of July 2 


HQQ 0 [naniHn ansa 
nnpQ nanaa aaaa 
EBI3 Hans acjaas 
□HHns nan ass 
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Haag □aasa ana 

By Suzy Menkes 

International Herald Tribune 

ILAN — Under those su- 
per-tight pants sprayed on 
hip and thigh, what's a guy 
10 wear? As fee models 
sauntered out in fig leaves of mesh wife 
matching tank tops, fee answer was 
transparently clear: Gucci underwear. 

Designer Tom Ford is into problem 
solving — not least the brainteaser of 
how to reinvent Gucci's hip, seductive 
and signature style each season. For 
spring-summer he decided to work from 
fee bottom up. 

As well as those peacock-male un- 
derpants, there were swimsuits so brief 
you might have thought there was no 
room for an identifiable ”G” for Gucci. 
Except that it is now a tiny rhinestone 
logo studding fee hip or the heel of 
mock-crocodile shoes. 

For fee ultimate in daft status sym- 
bols, fee sparkle logo appeared on jeans 
so beat up they looked like Mike Tyson 
had been chewing them. Ford, with a 
twinkle in his eye, described the thread- 
bare shreds as “hand-distressed." 

Gucci’s collection was witty wear- 
able and unmistakably longue in cheek. 
It is Ford’s genius to offer at fee same 
time clothes with flash and dash — and 
to parody that status-symbol style. After 
Gucci ’s star-studded gala in Hollywood 
last month, this was a collection that 
reeked of West Coast glamour. 

At the heart of the show was the sleek 
tailoring wife which Gucci is now iden- 
tified: slim-line suits in dark, iridescent 
colors. Since il is summer. Ford showed 
just with white shirts and 

mock-crocodile suspenders (another 

54 Canadian prov. 
5® Figure out 
58 Musician's 



must-have accessoiy). He also showed 
an Armani-esque pleat-front pant feat 
was less convincing. 

In just a few seasons. Ford has in- 
vented luxurious Gucci classics: sexy, 
streamlined suits, glossy leather jackets 
and gauzy sweaters. Domenico De Sole, 
Gucci's president, says feat fee company 

Gucci’s distressed jeans worn with 
white shirt and sweater. 

is not about to install vast underwear 
departments in stores. But in Ford’s 
witty take, Gucci may have found yet 
another way to boost fee bottom line. 

What must the nuns, peeking from 
convent windows, have made of Romeo 
Gigli’s models parading around rhe 
cloistered rose garden? Thar here was a 
gentleman designer making sweet- 
colored suits. 

Gigli's passion for rich Renaissance 
colors and ecclesiastical vestments ought 
10 have flowered in fee poetic setting. 
Instead fee mismatched suits in candy- 
colored stripes and checks — with 
dangling-cuff shirts, gingham-trimmed 
collars and truncated ties — just seemed 
like products in Gigli’s style, but nor from 
his soul. The switch from his signature 
dense ethnic prints to linear patterns 
seemed forced. Linen suits, however 
subtle their colors, now look familiar. A 
tighter editing of fee show might have 
sent out a more concentrated message. 

Moschino was forced by its founder's 
death to become a brand, rather than a 
designer label. The company has done a 
reasonable job of keeping Franco 
Moschino’s wacky spirit alive, but its 
method looks formulaic. The models 
walked past gingham-checked trattoria 
tables, showing first an outfit on fee 
wild side — and then a sober one. Black 
T-shirt/white jeans; black T-shirt/tur- 
quoise-seq urned jeans; swim pants wife 
a rhinestone belt trompe 1'oeil at fee 4 
hips; simple swim pants under a black 
nylon coat: wildly striped suit; plain 
suit. This may be how the clothes are 
sold, but a show should not seem so 
cynical. And as for old jokes like a suit 
printed with scissors and basting lines: 
Been there, seen that 

1NCE so few shows in Milan 
have an edge, fee sight of a 
model descending backward 
down a ladder in ultra-low- 
slung pants created a frisson of ex- 
citement. Fill in some funky details — a 
single leather arm piece, a watch wom 
luce a tourniquet, a metallic silver 
thumbstall. a backless boot — and fee 
aie-night show of Carol Christian PoeiJ 
looked intriguing. The Austrian design- .. 
er is still under the influence of an * 
existing avant-garde, but the cuttine 
was. experimental and fabric effects 
original. And any designer prepared to 
challenge Milan's big, bland scene de- 
serves watching. 



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PAGE 13 


Pans Weighs 
New Taxes 

On Firms 

! ■ • . ; . . . 

France Hopes to Fill 
Budget Shortfall to 
Meet EMU Criteria 

By Bany James 

International Herald Tribune 

PARIS —France’s Socialist-led gov- 
‘ ? eminent saki Wednesday that k was con- 

* -. sidering an increase in taxes on company 

: / j proto in order to meet the cnMfi^fbr^ 
joining fo9 European single ciirieticy: : 

' r - The prospect ended a record-break- 
ing rally on the French stock market, 
sending the benchmark stock index 
\ down 1.17 percent, to 2^09.45. 

•" • The government also announced 
f plans to make it harder to lay off work- 
- ers without serious cause. 

Catherine Trautmann, the govem- 
meat’s spokeswoman, said after a -cab*.: 
met meeting the government was con-.'- 
>: sidering whether to call on profitable 
companies to make an “extra effort” to 
, reduce the deficit. A decision would be 
' made, after an audit of public finances 
„• scheduled for July 21, she said. 

: TTie audit is expected to show that the 

• : . previous conservative govermnent left 

; France’s finances in poor shape, "with 
it. - the deficit likely to exceed 3:4 or- 3.5 
: percent of gross domestic product, ‘un~ 

" ■ •' less corrective action is taken. 

The criteria for joining the single- cur- 
tency call for a deficit ceiling of 3 per- 
cent, ' although officials said France 
s might be able to get into the currency 
| union with a slightly higher level than 
that, provided the trend was downward. 
j ' Prune Minister Lionel Jospin is 
caught in die dilemma of meeting the 
. criteria on die one hand and satisfying 
election promises to create at least 
; 700,000 jobs and not to raise taxes. 

Mr. Jospin also pledged during his 
campaign to shift the burden of taxation 
from labor to capital, indicating that 
taxes would fall on company profits as 

■ well as investment income. In finguiLfos 
> government announced additional taxes ' 

of more than £5 billion ($8.29 billion) on 
the profits of privatized monopolies. 

Francois Hollande, the French So- 
ciahsf Party spokesman, said, dm tf the 

■ audit- revCaled -pew (axes to be nec-r j 
• : essary, ‘fit vfift wt be oq households. It { 
. will not be on de French. It will be on 

those who have made the most profit in 
the past few. -years.” Mrs. Trautmann 
said the additional taxes would be pro- 
posed- to. Parliament in September if.. - 
they proved neoessaiy. ’ ■' 

Nevertheless, the relatively small drop t 
in share values following several surging g 
weeks was an indication that the market d 
expects companies to report increased p 
f earnings in 1997, analysts said. Finance, f 
‘ Minister Dominique Strauss-Kahn said 

Sttsvnu Of^ni/i, mu! in r 

t U jcniho, simp <ji Sfyirv 

m E<i\l \tr>ch <. 

Hispanic people may by of any race. 

Sourcen: Census Buroau: Sabg Center for Eoonomc Growth a! j 
the University of George vx Sew YroiTinn 

Retailers Stock Up to Lure Hispanic Clients 

By Jennifer Steinhauer 

■ New York Times Service 

LOS ANGELES — It did not take 
Larry Vines long to figure out why 
things were not working out at the 
Sears, Roebuck & Co. store in Boyle 
Heights, a mostly Hispanic neighbor- 
hood just east of downtown. 

Advertisements for the store prom- 
inently featured tractors, even though 
it had been a good 100 years since 
residents of downtown Los Angeles 
had toiled on the land. Not a single 
black bra was to be found in the store, 
though that is what many immigrants 
who shopped there wore. 

Men’s bathing suits looked like 
“something your grandfather would 
wear,” said Mr. Vines, who became 
the Los Aqgeles district general man- 
ager for Sears in 1994. 

The store, which opened in 1927, 
was set to be closed. But Mr. Vines was 
convinced that he could turn around 
one of the oldest of Sears’s stores, if 
only he could fill the shelves with 
goods that the customers wanted. 

His merchandising team got to 

work Out went the dowdy bathing 
suits. Soccer shirts with “USA”, em- 
blazoned on the front were replaced by 
jerseys featuring teams from Latin 
America. Chain saws took the place of 
tractors in ads. Joseph Diaz, the store's 
general manager, was given carte 
blanche to hire Spanish-speaking sales 

“We wanted the customer to say, 
‘This store was built for me,’ ” Mr. 
Vines said. 

The message got across. Sales rose 
to $50 million last year, double the $25 
million of 1992, and profits increased 
30 percent between 1995 and the end 
of last year. 

The aging East Los Angeles outlet is 
now one of the most profitable Sears 
stores in the region, even though its 
customer base of fairly recent immi- 
grants from Mexico and Central Amer- 
ica is relatively poor. 

That triumph, however, required a 
fundamental rethinking of how Sears 
operates — one that many U.S. re- 
tailers, each in their own ways, have 
emulated in learning to cater to the 
immens e diversity of the nation’s fast- 

est-growing ethnic group, the 30 mil- 
lion Americans of Hispanic origin. 

In 1994, stores that catered to re- 
gional ethnic tastes were unheard-of at 
Sears or many other U.S. retailers. 
Stocking by region was considered 
costly and hard to manage: How. for 
example, do you get economies of 
scale when you are buying a certain 
kitchen item or dress style for just one 
store? Department store companies 
mainly baa built their empires on the 
cookie-cutter model. Baying was cen- 
tralized, based on the idea that most 
Americans, even those foreign-born, 
wanted basically the same things. 

Now, though, micromerchandising 
has extended to a variety of groups and 
regional tastes. Sears stores in Asian 
neighborhoods are stocked with smal- 
ler sizes and rice cookers; outlets in 
Houston load up on Western wear 
every February for Rodeo Week. 

But it is Hispanic customers, retail 
analysts say, who get the most at- 
tention. because there are so many of 
them, linked by language if not a ho- 
mogenous culture. 

The movement started with grocery 

stores, which easily identified food 
trends among ethnic groups, and it has 
slowly spread to retail stores. Sears has 
148 stores (hat concentrate on Hispanic 
shoppers in eight states, and J.C. Pen- 
ney Co. Inc. has 120. 

Nordstrom Inc., which lets each of 
its stores tinker with merchandise mix, 
has staged special events around His- 
panic issues. Circuit City Stores Inc. 
arranges for goods purchased at its 
U.S. stores to be picked up by friends 
and relatives at affiliated stores in 

“My perception is that retailers' ef- 
forts to reach the Hispanic markets 
have gotten a lot stronger in the last 
year and a half," said Felipe 
Korzenny. president of Hispanic and 
Asian Marketing Communication Re- 
search, a research company in Cali- 

“It is because Sears was very ag- 
gressive and has made a lot of waves.” 
he said. “The other retailers saw that 
and" said, ‘There must be something 
there.’ ” 

See STORES, Page 14 


By Edmund Andrews 

New York Tima Sen-ice 

Minister Dominique Strauss-Kahn said 

a S? of measure to stirraS^ the 
economy, and that companies would 
benefit Nothing had yet been decided 
about raising cor p o ra t e taxes, he added. 

Mis. Trautmann said the government 
would propose legislation restoring re- 
strictions, removed in 1986, on laying off 
workers. The bill will subject layoffs to a 
government review k> ensure that jobcuts 
are, in Mr. Jospra’s words, “a last resent 
after the end or genuine negotiations.” 

FRANKFURT — Germany’s trou- 
bled efforts to launch digital television 
got a significant push forward Wednes- 
day when the country’s three key cor- 
porate players agreed to end years of 
feuding and support a common system. 

The agreement calls for Deutsche 
Telekom, the nation’s telephone com- 
pany and dominant cable television pro- 
vider, to make its network available for 
new digital television services offered 
by the Kirch Group in Munich and by 
Bertelsmann AG, the publishing and 
broadcasting conglomerate. 

The agreement appears to end the 
long stalemate between three powerful 
companies that each controlled essential 
building blocks for a successful busi- 
ness in advanced television but that 

have feuded endlessly in a Machiavel- 
lian struggle to control the industry. 

The agreement with Deutsche 
Telekom comes oneL week after a related 
collaboration announced by Kirch and 
Bertelsmann. If the two agreements 
hold up — and analysts warn that 
Europe is littered with scrapped media 
alliances — they could pave the way to 
a big expansion in advanced pay-per- 
view and multimedia services in what is 
by far Europe’s biggest economy. 

Under the agreement, Deutsche 
Telekom announced that it will adopt 
Kirch’s technology for set-top decoders 
and customer verification, and that it will 
provide capacity over its modernized 
cable network to cany some 50 channels 
envisioned by Kirch and Bertelsmann. 
That is crucial, because Telekom 
provides cable service to more than 16 
million households and Kirch has thus 

far had to transmit its fledgling digital 
service, called DF-1 , over satellite. 

Beyond that, Bertelsmann and Kirch 
agreed to merge their dueling pay-tele- 
vision ventures: Premier, which offers 
one analog channel of pay-per-view 
movies and has 1.4 million subscribers, 
and DF-1, which has about 29 channels 
but only 40,000 subscribers. 

Premier is owned jointly by Bertels- 
mann, Kirch and Canal Plus, a major 
pay-television company in France. Each 
company has a veto authority on all 
important decisions, and Bertelsmann 
has thus far refused to let Premier and its 
customers be absorbed into DF-1. 

But Kirch, which has spent billions of 
dollars buying up rights to movies and 
television from Hollywood, controls 
vast quantities of programming that are 
crucial to the long-run success of pay- 
per-view television. 

“This opens up the prospects for di- 
gital television, which up until now had 
been questionable,” said Helmuth 
Runde. a spokesman for Bertelsmann 
AG., which is controlled by CLT-Ufa 
of Luxembourg. 

But Ivor Jones, a media analyst with 
Salomon Brothers in London, warned 
that the future of digital television, along 
with more exotic new services like high- 
speed Internet access and interactive 
television, is still cloudy because Ger- 
mans already have nearly 30 channels of 
television available at low cost. 

“There is a difficult competitive en- 
vironment in Germany.” Mr. Jones 
said. “It already has a multichannel 
environment. It is already a place where 
you can see sports on a variety of chan- 
nels. So it’s not as though this platform 
has a unique proposition, as it was with 
Sky in the United Kingdom.” 

Americans Tap a Misunderstood Wine Market: French Varietals 

By Terril Yue Jones !•; j. 

Special to the Herald Tribune '!< ; - ■ 

BORDEAUX — American and Aus- 
tralian wine producersareflocking from 
their home vineyards to do a booming 
business in a sector that has been long 
ignored, even by the French: exporting 
wine made in the: south of France. 

Many in the French wine industry 
have long looked down their noses, at- 
wine made in Languedoc.-^ridply^ 
thought to be low-grade plonk.' and con- 
centrated -their export efforts on wines 
from Bordeaux, Burgundy, Champagne 
and other regions. 

Indeed, the finest French wines are 

produced under a designation called 
Appellation d’Origjne Controllee, or 
AOC, a seal of approval that states 
where a wine is from and certifies that it 
has been produced under strict regu- 
lations, including that of the permitted 
grape varieties. The labels of wines des- 
ignated AOC typically do not state the 
grape variety. 

But ninety percent of wines from die 
Languedoc region of southern France 
are not made under these restrictions, 
however, so vintners can produce and 
label wines as single-grape products, 
which are highly popular among wine 
drinkers in America, Australia, Britain, 
Chile and South Africa. 

California's poor grape harvests in 
1995 and 1996 prompted savvy dealers 
to scour Languedoc for moderately 
priced, quality wines that might appeal 
to American and British palates. 

*.‘In a French supermarket, what do 
yon see: Chateau this, Chateau that,” 


said Antoine Songy, commercial direc- 
tor of the Languedoc-based Fortant de 
France, France's leading wine exprater 
whose U.S. shipments have skyrock- 
eted from 11,000 cases two years ago to 
an estimated 340,000 cases this year. 
“There’s no reference for consumers. 

With our single-grape wines, we are 
creating a reference for simple, con- 
vivial wines of good value. 

In September, Robert Mondavi 
Winery of California plans to introduce 
a line of under-$12 Languedoc wines, 
each made from one of several grape 
varieties grown in Languedoc: cabernet 
sauvignon, merlot and syrah among the 
reds; chardonnay, sauvignon blanc, 
viognier and chasan grapes among the 

“Consumers in North and South 


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Sana: Rentes. 

Stock Prices 
Rise Sharply 


PARIS — Eorotun- 
nel’s stock prices soared 
Wednesday after the 
French and British gov- 
ernments offered to ex- 
tend its right to operate 
the Channel tunnel, 
clearing the way to save 
the company from bank- 

The extension means 
holders are all but certain 
to approve the £8.5 bil- 
lion ($14.1 billion) debt- 
for-equity swap at a July 
10 meeting. 

Eurotunnel units, tbe 
equivalent of one share in 
Eurotunnel PLC and one 
in its French sister com- 
pany Eurotunnel S A, rose 
7 pence a share, or 10 per- 
cent, to 76 pence in Lon- 
don. In Paris, they rose 65 
centimes to 7.55 francs. 

( Bloomberg , Reuters) 

America and Asia are intimidated and 
confused by the appellation system, but 
accept varietal names as a reference," 
said Michael Mondavi of the winery. 
French winemaking regions outside of 
Languedoc “are not being fair to their 
own consumers,” he addw. 

Kendall-Jackson, Sebastiani, 

Beringer and Canandaigua are among 
other American winemakers and mer- 
chants importing several million cases 

See WINE, Page 17 



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The new way to office: 


Fed Leaves 
U.S. Rates 

Wall Street Applauds 
As Policymakers Find 
No Inflation Danger 

By Mitchell Martin 

International Herald Tribune 

NEW YORK — U.S. central bankers 
decided to leave interest rates un- 
changed at their two-day policy meeting 
that ended Wednesday, after the econ- 
omy showed few signs of inflation de- 
spite strong growth in recent months. 

After pushing up short-term rates by a 
quarter of a percentage point in March, 
the Federal Reserve Board's Open Mar- 
ket Committee has opted at its last two 
meetings to maintain its target for 
overnight interbank loans, which set a 
floor for U.S. rates, at 5.50 percenL 
Alan Greenspan, the Fed chairman, 
had been warning investors since late in 
1996 that the central bank was con- 
cerned about rising stock and bond 
prices, which he said might reflect “ir- 
rational exuberance” about the mar- 
kets’ prospects. But although the econ- 
omy grew at a strong 5.9 percent annual 
rate in the first quarter of the year, there 
have been few signs of inflation. 

It is widely believed that economic 
growth slowed to a rate of about 2 
percent in the second quarter, but with 
unemployment below 5 percent for the 
first time in two decades, there have 
been questions as to whether a lack of 
workers would require wage increases 
that would kindle significant inflation. 

Stock and bond prices rose after the 
Fed meeting ended. The Dow Jones 
industrial average finished just shy of a 
record, up 73.05 points, at 7,795.38. The 
broader Standard & Poor’s 500-stock 
index rose 13.00 points, to a record 
904.03. The Nasdaq composite index, 
which largely reflects technology 
stocks, also set a record, rising 17.38 
points, to 1.455.63. The yield on the 
benchmark 30-year bond fell to 6.71 
percent from 6.74 percent on Tuesday. 

In recent weeks, the view on Wall 
Street has been that although the Fed 
might raise rates later this year, it was 
unlikely to do so at this meeting. That 
. position gained credence Tuesday when 
. the National Association of Purchasing 
Management issued its June report, 
which showed die manufacturing sector 
expanding but at a reduced pace from 
May. The government, separately, said 
construction spending slowed in May. 

Further evidence of moderating 
growth came Wednesday, when the 
government said factory orders fell 0.7 
percent in May from April. 

Ed Yardeni and Debbie Johnson of 
Deutsche Morgan Grenfell Inc. said that 
although overall factory orders fell in 
May, buying of high-technology goods 
rose 15 percenL Mr. Yardeni is among a 
school of economists who say that foe 
widespread use of computers by Amer- 
ican industry allows the economy to 
grow faster than the 2 J percent annual 
rate that had been perceived as the max- 
imum that would not lead to inflation. 

These so-called New Age economists 
say that technological advances have 
made traditional methods of calculating 
growth and inflation unreliable. 

One economist who maintains that 
foe economy is growing far faster than 
the official data show is Leonard Na- 
kamura of the Federal Reserve Bank of 
Philadelphia. Mr. Nakamura figures 
that the economy grew at about a 45 
percent annual rate from 1978 to 1995, 
compared with official measures of 
about 2.5 percenL In the past five years, 
be said, foe rare accelerated to 5.0 per- 
cenL compared with about 2.6 percent 
in the government figures. 

If the official data are correcL Mr. 
Nakamura said, then all foe gains in 
productivity since the late 1970s would 
have come from workers having more 
machinery and working increased 
hours. That means that none of the re- 

See FED, Page 14 

Coll the number fisted 
below to fnd the 

loc ati on nearest you. 


TEL- 61-2-9267-4255 


• TEL |416) 928-2745 


TEL- 31-20-589-0910 


TEL 82-2-566-9768 


TEL 81-3-5570-5432 


TEL 1-800-2-NNKOS 
(from U.S. 4 Caiado) 

Opening soon; 



«IW 7 C*toV lac- a ngkii ismnL nd 
tv- Mf te jfia m prefrefaiy mi*t el ftio'i 
*Mim. lac. and m nH bypenatafen 



PAGE 14 

The Dow 

30-Year T-Bond Yield 

155 ' F M A " liT J ' J v 
1997 3 

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Source: Bloomberg. r-.*u v.-s toicnuiireui Herald Tnhuw 



Crunch for Montgomery Ward 

As It Seeks to Sell Unit, Retailer Said to Halt Payments 

Dollar Stays at Highs 
Despite Steady Rates 

Very briefUys 

Nike Ear ning s Estimates Reduced STOl 

BEAVERTON, Oregon (Bloomberg) — Nike Inc. shares Contini 
fell 62.5 cents to $57,375 as the company's plans to focus on 
I ess-expens ive shoes and expectations of higher costs promp- A t Sears, 

ted analysts to reduce earnings estimates for the coming dresses bn 

year- , , _ . r . r ^ tfaesheives 

The company, which posted a 1 6 percent rise for its fourth- Q f ^ com . 

quarter earnings late Tuesday, also reported an increase in fen are D f p 
orders for future deliveries of its shoes and clothing that was District 
lower than some analysts and investors expected. work with i 

EMI Buys Stake in Motown Firm 

NEW YORK (NIT) — EMI Music Publishing said it had stores. All 
paid $132 million to Berry Gordy Jr. for a half-stake in the “* e headqu 
company that owns the rights to classic Motown songs. not forced 

The publishing catalog, which includes hit songs from such different bu 

performers as the Temptations and Diana Ross and the Su- 

premes, was owned by Jobete Music Co. and its sister com- 

By Jennifer Steinhauer 

New Yuri Times Service 

NEW YORK — As it negotiates 
the sale of its most valuable asset 
and a refinancing package from its 
banks, Montgomery Ward Hold- 
ing Corp. has stopped paying 
many of its vendors, according to 
people familiar with the situation. 

As a result, those serving as 
financial go-betweens for compa- 
nies and their suppliers have told 
suppliers not to make shipments to 
Montgomery Ward. 

A cutoff in inventory this sum- 
mer would hart Montgomery 
Ward because the Chicago-based 
company is trying to stock new 
kinds of merchandise that are des- 
perately needed for the Important 
back-to-school season. 

Montgomery Ward did not re- 
turn telephone calls immediately. 
The company has been in two sets 
of complicated negotiations for 

It is dying to sell the Signature 

Group, its direct-marketing unit, to 
HFS Inc. Montgomery Ward 
hopes to get $i billion from the 
safe, which is close to being fi- 
nalized, several people close to the 
situation said. 

The company also is negotiating 
its $1.4 billion debt with its bank- 
ing syndicate and insurance 
companies. It was technically in 
default Tuesday. 

Montgomery Ward is hoping to 
delay is due date until the end of 
the summer and to secure a ra- 

the Christmas selling season. But 
the banks say they will refinance 
the company only if the new loans 
are secured, analysts said. 

Montgomery Ward also is look- 
ing for financial assistance from GE 
Capital Corp., which owns half of 
the retailer. 

But GE Capital already has in- 
vested $ 1 80 million in equity in the 
retailer, given the company $300 
million to $900 million in credit to 

finance its inventory and lent h 
$150 million more in exchange for 
some preferred shares. 

- The position of GE is close to 
that of the banks: Itis happy' to dig 
into its pockets again to bail out 
Montgomery Ward, but only if its 
loans are secured. 

All the negotiations are en- 
tangled. Montgomery Ward is 
counting on the Signature -sale to 
pay the interest on its debt, but its 
own financial house must be in 
order while it attempts to make the 

Last year Montgomery Ward 
lost 5249 million on sales of S5.8 

‘ ‘I think they are really in chaos 
right now,” said Barry Bryant, an 
analyst with Rodman & Rees haw. 
“What is going on right now is 
very complex negotiations be- 
tween GE Capital and the banks. If 
the banks don't come through, then 
HFS won’t buy Signature, and if 
HFS doesn't buy Signature, then 
the banks won't come through.” 

Bloomberg News 

NEW YORK — The dollar was 
little changed near three-year highs 
against the Deutsche mark on 
Wednesday after the Federal Re- 
serve Board held interest rates 
steady, as expected. 

In creased rales would have given 
the dollar a lift by making deposits 
and bonds denominated in the cur- 
rency more attractive. 

“The dollar wasn’t trading up 
because people weren't expecting 
rates would go up.” said Paul Far- 
rell, a manager of foreign exchange 
at Chase Manhattan Bank, before 
the decision. So it likely will not 
move now that rates were left alone, 
he said. 

At4P.ML, the dollar was at 1.7537 
DM. up from 1.7468 DM at the end 
of Tuesday, ft slipped to 1 14.45 yen 
from 1 14.90 yen. 

- Traders said they were focusing 
on the employment figures for June, 
due Thursday, for signs that a 
healthy labor market may (hive' 
wages, and consumer prices, higher. 
That could prompt the Fed to raise 
interest rates later in the year. 

Analysts say the fact that interest 

rates in the United States are higher 
than those in Japan and Germany is 
behind the dollar’s recent strength- 
japan’s discount rate is at 0.5 per- 
cent, while Germany’s securities re- 
purchase rate is at 3 percent. 

The Fed last raised rates March 

Against other major currencies, 
the dollar rose to 5.9080 French 


francs from 5.8860. It rose to 1 .4701 
Swiss francs from 1.4660. 

The British pound rose to its 
highest level against the mark in 
more than five years, meanwhile, 
after tax increases in the British 

budget released Wednesday left 
intact expectations that rates in that 
country were set to rise. 

In late New York trading, the 
pound jumped to 2JWQ1 DM from 
2.8985 DM. It also rose to SI. 6755 
from $ 1 .6587. 

“Sterling is set for further sharp 
gains on the back of the budget, 
which won’t change the need for 
rate rises,” said Michael Burke, an 
economist at Citibank in London. 

STORES: Revamping of Merchandise Draws Hispanics p£j), gfogfe Rig e ^ Rates Sta Put 

_ _ _ a ■- — i g — • fi r x * : v 

Continued from Page 13 

At Sears, getting the right mix of 
dresses, bras and kitchen aids on 
die shelves rests on the shoulders 
of the company’s buyers, who of- 
ten are of Hispanic descent. 

District merchandising teams 
work with corporate headquarters 
to purchase for individual markets, 
typically groupings of 10 to 12 
stores. All the orders come from 
the headquarters, so vendors are 
not forced to deal with a dozen 
different buyers, and Sears is able 

to maintain its buying leverage. 

Sears is happy with the per- 
formance of the stores in the Los 
Angeles area that have been re- 
stocked to appeal to Mexican and 
Mexican 1 American shoppers. Bur 
what Sears and other retailers must 
guard against is stocking each His- 
panic -oriented store in exactly the 
same way. 

A middle-class Cuban shopper 
in Miami, for example, probably is 
looking for a different Saturday 
night dress than that sought by a 
Los Angeles immigrant from a 

small farm town in Mexico or a 
student of Puerto Rican back- 
ground who has lived in New York 
all her life. 

In an effort to perfect their 
stock, many retail executives are 
trying to tweak each store, region 
by region — a sort of micro-micro 

“Southern Califo rnian Mexic- 
an- American is very different from 
a San Antonio Mexican -Americ - 
an.” said Beverly Anderson, a 
merchandise manager at J.C. Pen- 
ney. “It becomes very complex.” 

panv , Stone Diamond Music Coro. Both companies are owned 
by Mr. Gordy and his sister, Esther Edwards. 

• Raytheon Co. got U.S. approval for its $2.95 billion pur- 
chase of Texas Instruments Inc.'s defense electronics unit by 
agreeing to sell part of TI’s computer chip business, according 
to people familiar with the case. 

• General Motors Corp. blamed slowing demand for its 
older models and two strikes for a 14 percent decline in June 
sales of cars and light trucks in the United States. 

• Rockwell International Corp.'s chair man and chief ex- 
ecutive. Donald Beall, is retiring after nearly two decades, to 
be succeeded by his No. 2, Don Davis Jr, it was announced in 
Seal Beach. CaJifomia. 

• Compaq Computer Corp. has approved a 5-for-2 split of 

its stock, hoping to make shares more affordable by dropping 
them into the $40 range. Bloomberg, ap 

BOEING: EU Demands Concessions to Accept Merger 

Continued from Page 1 

require structural remedies to an- 
titrust concerns rather than allowing 
the commission to monitor corpo- 
rate behavior. 

Regardless of the dearth of air- 
craft orders for McDonnell Douglas 
in recent years, the commission es- 
timates that the company has sup- 
plied 24 percent of all aircraft of 
more than 100 seats in service 
around the world. 

That is more than Airbus Indus- 
trie, the European consortium thai is 

the only non-American competitor, 
and would strengthen Boeing's 
clout by giving it 84 percent of the 
aircraft industry's installed base, of- 
ficials here say. 

Commission officials have not 
specified how Boeing should ad- 
dress the size issue, but sources have 
hinted at possible divestments of 
spare-parts or maintenance busi- 

The commission also wants Boe- 
ing to guarantee to make patents and 
other intellectual property available 
. to Airbus and other competitors. 

The commission is expected to 
rule on the merger July 23. although 
it could take until July 3 1 . 

■ Delay on BA-AA Deal 

The European Commission is un- 
likely to rule before September on 
British Airways *s planned cooper- 
ation deal with AMR Corp.'s Amer- 
ican Airlines, Reuters reported 
Wednesday, quoting officials. 

Antitrust officials from the EU’s 
15 members plan to discuss the issue 
on July 23, m eanin g final clearance 
is likely to slip into September. . 

Continued from Page 13 - 

corded productivity gains came 
from technological advances, a situ- 
ation that seems absurd to anybody 
who remembers living in a world 
without fax machines. 

Mr. Nakamura said 1978 was a 
watershed year. He found that the 
traditional measures became inef- 
fective because of changes that be- 
came apparent around that rime. 
Among these, he said, were the be- 
ginning of deregulation and changes 
in retailing that led to mismeasure- 
ments of consumer prices. 

An example of both these effects, 
he said, was in commercial airline 
fores. Before the aviation industry 
was deregulated, most routes had 
only one round-trip coach fare and 
most travelers paid it Since then, be 
said, the full coach fare has risen at 
an annual rate of about 9 percent, but 
discount fares have risen at only 
about a 2 percent rate. The consumer 
price index tracks only the full fares, 
but Mr. Nakamura said that now 
only about 7 percent of miles flown 
are at the frill rates, so the cost of an 
average flight is far lower than the 
inflation data suggest. 

Other changes that began to occur 
in the late 1970s. he said, were that 

personal computers “began enter- 
ing the business community in sub- 
stantial numbers” along with price 
scanners in retail stores and the sub- 
sequent use of electronic pricing in- 
formation by retailers. This allowed 
for a wide variety of prices to be 
charged, but government price re- 
porters were not equipped to react to 
the changed environment. 

Mr. Nakamura said his data on 
stocks were not precise, but tech- 
nological advances were providing 
added benefits to the value of cor- 
porations beyond the increased sales 
and profits generated by strong et ■» / 
nonuc growth. Computers, tor v. 
ample, make mundane corporate as- 
sets such as archived documents 
more valuable, he said. 

Another benefit of computers. 
Mr. Nakamura said, is that as theii 
ease of use rises and they appear on 
more desktops, workers who 
work had been relatively lo- le\ . 
are able to accomplish more corr 
plex tasks. 

This technological enhancement 
of corporate assets is one reason 
U.S. stock prices have scored 
double-digit percentage advances 
for each of the last three years, he 
said, far outpacing even his torrid 
estimate of economic growth. 


Wednesday's 4 PJL Close |^L_ 
The top 300 most odire stare* 
up to the dosing on Wall Sheet. 

The Assoaxed Press 

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307 ft ft 
1729 »ft 89*o 
IK 5**fti sm> 
19 17 lift 

19 1 to 

4*3 21ft 31 
IS 21ft 21V 
505 Ito Ift 

51 US i!' 

»? P & 

745 Ah 5 

a IV lib 
Mto H 
Hft 2J 

aa i» im 
2S3 Wft IWb 
739 alto 31ft 
17 lift lift 
« lift lift 
SOI lift lift 
091 IM *12n 
IB 2 Ito 
Ml Ito 1ft 
494 IN lOto 
3M 8 7ft 

£ ft IS? 

Wl 2Mb in 

401 9b 47ft 
254 Ito lib 

12 s «b 


£> lift lift 


«£ SK a* 


8 'a 

8 * 'K 

222 i Bk 
OJ lito IM 
Ili 134b 13 
*j| HI* ]0to 
ft lit! lito 
ig IJto 13V, 

51 14 1W >‘ 

£ l** !#* 

302 Mto Ito 
IS 132b lift, 

W Ilk IS 
104 jin ii to : 
a 17V 17kk 
S36 fa Mi 
«4 Ub Ift 

» s 

2ft .to 

& A 
JTJ 4 

to 4k 

to -to 
3ft -ft 
Ito -to 
ift .ft 
5 -ft 

3ft Ok 
IM .Ik 
46b -Ik 

Jft -V 
Vto -ft 

7ft **» 


12U -ft 
lito .to 
lift .to 
3ft -It 

s ^ 

12ft -to 

2*ft *b 
MM 4k 

52ft -Ift 

T*fc .to 


1SV, -V 

20 .ft 


ift .to 



Dow Jones 

Ob— ■ Hlgt> In lor Oft 

Hu 7737313 779SJ8 7497^45 779530 .7105 
Truas 775X26 7789.0J 3744^3 1WS6 .4X00 
UII m.91 230.97 22X25 220,17 +2.77 
Cam 2384^5 2406-44 237X61 340634 *27-12 

Standard & Poors 

P l B »tay» Today 

MV* Ub* Oast 4 PAL 
Industrials 1051.071041.241048.10 1062-40 
Transp. 09S9 631A1 639J9 649.43 

UWM« 199JB 198.02 198.79 20a73 

Finance MJ2J3 100L13 101.75 103.8] 

SP500 8938S 884S4 09140 90440 

SPI00 0*9.95 860.78 866J7 081.17 

Hl*b Law Lota O. 

Comp o sUe «71-7? 4i6jn *71.71 .5-70 

mmattw 597X4 5WJI 597J4 .7JB3 

TIOT8. 42X88 411.17 425-70 .6^1 

mfifT 1X739 TSS28 20.29 .101 

nnmea 433-47 42669 433-45 *676 

Most Actives 



Hftb iwm Lb>* Ob. 
1 45566 1440-0 14SSA3 H7J8 
WBX9I I IBU1 118X77 .7J4 

1631.93 162SA6 1631.40 .IJ4 
1*5X83 1*44.75 164ft*» 174 

63005 *7087 *3005 .4 44 

v<* Hign 

171045 lito 
67940 34 Is 
64155 37W 
60215 3Sto 
50346 58ft 
4X627 I08'k 
473S6 38ft 
4Z33S 44 - i 
45166 37>- 
42424 25ft 
41270 67 ft 
38781 J9* 
38176 48ft 
36848 71*4 
3*358 TtRj 

V— mg 6 

2054*7 4V*. 
7S8140 143ft 
139744 48M 
8*399 24to 
75184 119M 
67199 70ft 
46326 77Bft 
58118 48M 
52525 14V, 
52391 13Vm 
41*05 45ft 
49578 20ft 

48814 MM 

45101 41 Pa 
09*5 lift 

IS», Mto 

35 3* 

28ft X 
35 356 
55ft 571, 
107 105ft 
37ft X 
4T* 44 

3»b 37to 
24*i 25*1 
6*ft *7+* 
74 to 78ft 
47ft 48ft 
»> 21ft 
68 l » nift 

45ft 49V. 

139 143 

451s 40ft 
,23ft 230*: 
117ft 119ft 
68 k 7tr>, 
l?4to 178ft 
47ft 48Vk 
lX'B ljft 
lift 13ft 
44ft tfto 

I9ft X'k 
34*. JSto 
391- 40 

9ft II 

Dow Janes Bond 

20 Bonds 

10 Uttffttcs 
10 Industrials 

103.08 10123 

100.14 100.47 

106331 106JX3 













+ lka 














+ b 








19b 20to 

♦ to 



294* 79to 

+ to 





+ l* 





• V* 

July 2, 1997 

Hlgii Lou Latest Chpe Op ird 



5A0B nu mb-nwn- oems ner oushe; 

JUt 97 ?46ft ?42ft 245to -2V: »J5? 

5*p97 236 Vi 232', 234ft -1ft 59303 

D*c97 236ft 231ft Z3*ft *2 1*1X99 

Mix 98 244V* 239V. JC2ft -2 XJ75 

Man 98 249ft 2S5V* ZdP.k -2ft Z.V51 

JUW 253ft 2«ft 251ft -2 

SeoVB 2*7 245 746 -ft 318 

Esi. sales HA. Tue's. sales 72JD0 
Tue's open irt 1 cm 272017 

100 vanv- dollars per ton 

Ju197 24700 23500 237.10 -7.10 11487 

Aw 97 22150 71550 21X80 —IX 23.777 

Sep 97 20850 20350 205J0 -070 »i.7W 

0097 19X60 19450 194.90 -160 14X80 

Dec 97 19250 187 JO 187X -400 33-727 

Jan 98 191X 1B470 18670 — X10 3.970 

Est sales HA. Tue\sdes «wo 0 
Tue's open ini 1 ofl 106800 

60500 lt»- certo P*r fb 

Ail 97 21.75 Z1.37 21.63 *021 5587 

Aw 97 21.92 7150 21.76 .a 18 27-45* 

Sep 97 22. K) 71.70 7193 *020 IXU0 

0(2 97 22.15 7171 21.99 tOJl 15,108 

Dec 97 2X35 21.91 Z2J0S +0.14 4X272 

Jan 98 2X40 2X10 2X10 +0.07 4699 

Est. sales NA Tue's. soles 2SJ00 

Tue's open mt 1 off 1111*21 


SVOOObunbnmum- amnrbMh* 


Lsiesi Chgs 



1 15.000 #34.- caiY5 Paris. 

■ Ju 1 97 7580 





Sep 97 77.90 





Nov 97 6X53 





J319B 8153 






Tub's, sdes 


Tub sopenint 

1 eE 


Mgh Uw Latest Qige Oplnt 



High Lo* Latest Chge 


JiriW 7X15 72JS 7X9S -4280 »u 

Od97 7605 755S 7590 -020 11 .M2 

Dec 97 7680 74.4S 7465 -010 41.301 

Mar 98 7X00 7757 7X00 -003 7J2I 

FFSXLOOO-tasonOOnd Marw IUU 1 fiM nun -uuj 

SgW 129« 12950^29.6* + a?4 0 T^.s2j? EJM 4 * 

Dec 97 9X34 9&1* 9X28 -036 1070 ^ 

Mar 98 97 14 97« 0748 -OM n lUeSDOenM I Otl 661/V 

Mor98 9754 9754 9758 . 0J6 
GOLD (NCMX} Est sales: 16141*. HEATING OIL (NMER) 

lOO'rpvnz.- C3lu3-s per trrrvof. Open int.: 1070 dawn 201186 . CUnOvoi. cents per gal 

Jul97 32150 XIX 33IX —170 J ,, , r vr , Aug97 54X SUM 54.92 -008 42JI0 

Aug V 33550 23X10 332X — XBO IO2A0S [TAUAN GOVERNMENT BOND QJFrE) Sec 97 5SJ0 SAW 5542 *0.11 20.470 

Se?97 JgS [TL2O0 irilfian- pMoflOOpd Dd77 5430 5SX 5M7 -ail 1*7*}. 

336.10 3*43 ij 1x90 B.S8T 1X20 13*39 l£® +0.M 101, US ^97 57. IS 5620 5687 -Oil KMI 

Dec 97 UXSO Ttf. 40 33X70 —100 X4Q4 Dec97 107J0 10750 107J2 +0-48 5B0 Dec 97 5790 SSD £757 -OH IS.liJ 

FeS 98 34050 339.00 331 JX) -100 9J5B EsL sides: 70676. Pnv. *al»: 4A3S1 Jon98 5825 5755 57.97 -Oil I2.9JI 

Act 98 34300 W123 XIX — X10 4539 Prev. open hd_- 1074*5 up 1^21 FebM 5X35 £7.70 »02 -016 i.48 9 

A*i98 34520 3050 3050 -120 7.923 EWODOLLARS (CMBZ) AtaW p.35 S6.70 57.07 - 0.16 6.144 

AuQ 98 34750 346.10 34&.KI -330 746 si mtatoi-pisotlOOBcr. Apr 98 5X00 55.60 K57 -ftW 3137 

Es». sales HA Tue's. scies 4X000 Jul77 9423 94.18 *422 +X01 4X450 Est.sdes HA. Tie's, sales 74,705 

Tie's 0PW1 ft! I off 1*4340 Aup97 9419 *418 V4.I9 +101 14065 Tie’s open mt 1 off 144009 

■ li r n n rw~ mnim inriitfi SC097 9416 *413 *415 *Hfll 568AI7 I KlfTCIVPPTrMinP flMJEDI 

HI GRADE COPPER (NCMX) D0CV7 9397 9395 9398 +O01 44U89 CTU “' 

TSJXtalbs.- cents per Si. Mir9B 9188 9185 9158 .OJB 301 A50 

Jul 77 11170 1ML7I 11350 +1-45 7.1U X«98 B77 nn 93M +00X7,15 ***£ 22 1991 7038 “ D - n Wm 

Aug 17 11X70 10*50 11160 +155 3563 Sw 9166 9X63 9355 Ian XXOOt %° V 3138 w ” M.X -022 49.350 

Sep 97 USAS 10&50 11 IX -155 2X443 9X55 9X52 9X54 +002 14559* 0077 m3S ,9?l 31563 

Oct 97 11005 1D8J30 11005 +X0D 1.249 nv -052 111 749 NwW 7028 19.94 2028 +122 19.322 

MH97 109 JO -225 120* ££» 91® 9146 9148 +aS 87530 70M 19.91 TOM -022 40 40: 

Dec 97 10190 10600 10050 +105 6238 SecW na M Si +052 7420 SL36 19.99 302* +021 19.J95 

Jan 98 107X 10500 W7X +X25 649 9138 9136 9137 +003 67291 **>»■ 3026 2000 202* +021 9 47i? 

Fed 98 10600 -105 545 MsoftsNA Tie's, sues 4«»m MerW 3025 19.90 2025 +031 5.251 

Aug 97 

55 JO 





Sep 97 

ift 70 





Od 97 





lk ’as 

Nov 97 



56 87 

+ 011 


Dec 97 




-0 II 

15. li/ 

Jan 98 


57 J5 




Feb 98 












Apr 98 






Fed98 10600 +105 545 Est.soUH NA Toe's sues 43SJ) 

MB- 98 105.70 10380 105.10 +105 1410 T^sooenSt 25^21 W 1^1 

ES. soles NA Tub's sole* 8X0 

Tue’s open int 1 off 49300 BRITISH POUND (CMSU 

m -to 
Jto 4b 
ito -to 
IM 4 b 
IH 4k 
21H +lk 
IJto 4b 
M 4 b 
2 to 4 b 
TJk -ft 
Jft -ft 

15V. 4b 

Ito -to 

M -M 

as -*■ 

Ito -Vk 
S« 4 b 
b -to 
<to -M 
121 k 

44* +to 

im *iw 

2*to 4b 
lift 4 b 
lkk -to 
2to -to 
15M +IM 

1Mb *A 

3 +ft 

2 -to 


Sft 4b 


van -ito 

& Trading Activity 



Total issues 

TkM issues 
New Lews 


Gout Pm. 

1*59 1704 Aavancea 

VeJ 1150 peataeo 

575 SJ7 Cnoiangea 

3797 J791 Total bsu« 

rra 2S0 NewHigrQ 

U io New Lows 

Market Sales 

254 261 NYSE 

177 199 Amec 

lo ™ 

io 5 Inmttons. 

JUl 97 






AuO 97 

69 Hi 





Sec 97 












Jon 98 






Est. sates NA 

Tub’s, sdes 


Tin’s open ire 

l oft 



SUJ00 bu TrtrtVnum- cenrj per busnei 

Jul 97 


371 ft 


♦ 1ft 


Sec 97 



332 ft 



DBC 97 




+ m 


Mir 98 




+ 1W 


_ 43,S»«»nls, spot oaund 

SB.VER (NCMX) Seo97 15760 15*60 15722 

SOOOroyax. -cents per loom. Due 97 1*700 15*00 15674 

Jul 97 46150 46X10 460.10 -320 1730 Ma-98 1.6626 

Sep 97 47000 46100 46150 —330 57283 EsLsotos NA Tue’s Hies 11150 

DecV7 47520 471.00 £150 13,970 Tie's epen In. 54291 off 1564 

Jan 98 47320 —130 18 

Mar 98 47820 — 3J0 X979 CANADIAN DOLLAR (CMER) 

May 9* 48650 48X50 «2J0 -130 2555 MOMOUonwb.siwrQSn.dkr 

Jul 98 48670 -130 1,986 S«P*7 7313 7270 7296 

Sep 98 471 JX) — 3J0 685 Dec 97 7350 7325 7333 

Es.sates NA TuCs. sales 14«0 Marts 7364 

Tub's open M 1 of 91276 Eg. sates NA Tub’s. sBes MZ2 

Mar *8 7364 

Eg. sates na Tub’s. sBes 3422 
Tue’s open int 43224 up 617 

1714 lid 

1591 2207 

2131 im? 

5444 5737 

10* 186 

48 74 

Tour Fra*. 


52922 637.78 

2186 27J3 

59274 589.03 

151* -to 
Hh to 

lift .]> 

nu « 

lift to 

1% * 
Ito to 
lb «to 
10ft to 
79b to 

Sft At 

flb 4k 
55ft -to 
Sft -Jft 

5 -ft 
At -« 

Mb -ft 
2fto -ft 
IHi +lk 
3b to 

a +n 

ift to 
to to 
lift -Ik 

,f to 

13 to 
11M +Jt 
lift -ft 
17ft -ft 
14 to 
lift -ft 

IM to 

W :J5 

IT* -ft 
.ft +ft 
lib to 


Company Par Anzt Rec Pay 


Blue Chip Valve _ 2S 7-11 7-25 

PSgranAmBk -.7707 7-10 7 22 

WestAmeriea Carp 1 tor 3 revetse spot. 

Goodawrt Foods Q .06 7-15 8-t 


CaaEtalRndn _ .09 7-11 7-25 

Wayne Sves&Ln . .155 7-10 7-25 


Adobe Systems a .as 7-7 7-21 

AHiRndGrp Q 25 7-15 7-25 

Bantostop Q .16 7-15 7-30 

BlkifcStratgTrm M 03 9 7-1S 7-31 

Adobe Systems 

Company Per Amt Rec Pi 

Bridge VtewBficp 
CBES Bancorp 
Cathay Bncp 
Cenfed Find 
Dreyfus CA Muni 
□reyfs Strut Gu 
Excebtor Inca 
Kemper HI Inco M 3175 7-15 7-1 

Kemper IntenuGv M 255 7-15 7-1 

Kemper MutfiMH M 2725 7-15 7-1 

Kemper Mufti nco M 2725 7-15 7<I 
Kemper Stmt Into M .15 7-15 7-j 

Kemper Strut Murd M .15 7-15 7-j 

Mass Hlth & Ed M 262 7-15 7-3 

MCGmtti Rente wp Q 28 7-3 7-1 

Mentor inco Fd “ " ““ 

UntonBkcorp Inc 
miwwfe tk-gauvijUmli mutfirt per 
stxve/ADR; g-payaMeid Caaofia* fond*; 
ni-maiitMv; q-qavtatyi c-seai-eanual 

Per Amt Rec Pay 

0 .10 7-15 8-1 

_ .10 7-8 7-21 
Q .15 7-11 7-18 
a 29 7-18 8-1 

M .05 7-15 7-29 
M 2*25 7-15 7-29 

a 26 MB 7-25 
M 275 7-15 7-31 
M 2S5 7-15 7-31 
M 2725 7-15 7-31 
M 2725 7-15 7-31 

M .15 7-15 7-31 
M .15 7-15 7 31 
M 062 7-15 7-31 
a 28 7-3 7-16 
M .07 7-15 7-31 
Q 29 8-18 9-8 

O 235 7-18 7-25 

Stock Tables Explained 

Salas figures are unofBdoL Yoaity highs mid laws reflect the preirious £2 weeks plus the 
omwVwealc, butnorttie latest trmflng day. Where □ split arstodt dKrfdend amounting to 25 

percenter mare has been paid, the years Mgb-taw range and dMdend are shown farttw nett 
stocks aoty. Unless otherwise noted rotes of dfwt den ifc arc annual (Ssbursemenls based on 
tttc West didonrt ion. 

a -dividend otto «dm b). p- initio) dividend annual mto unknown. 

b - annual rate of dhtdend phs stuck d»- rVE - prioe-eamtnas ralta. 
wdencL q-dosed-endmvhBltwnd 

e-Hwii&tlng<IMd«i<L r-dhidonddectoredarpaldinprseedingl} 

cc- PE exceeds 99. months plus stuck dividend, 

dd -called. s -dock split. Dividend begins wlfti date of 

d - normally toM. spffl. 

dd -toss tn the tost 12 months. 3 s -sales. 

e-dvidaiddedaredorpajd In preceding 12 t - dividend paid In stodt in preceding 12 
months. months estimated cash value an ex-dt- 

f - annual rata increased on last deda- vidend or ex-distribution data 
ration. u- new yenity high, 

g-dhrtdend in Canadap funds, subject to v -trading heuted. 

1 5% nan- reside nee fax. vi - In bankniptcy or receiwnMp or being 

I • cflvtdend dedared oflw spllt-up or stack reorganized under me Bankruptcy Act or 
dividend. securities assumed by such companies. 

j-dvfciendpaUtttainnamRecldeferedar wd - when dbWbuted. 
no Ktoitafcen at tatestdMdend meeting. art -when issued/ 

k - Attend dedond or poid this jeoo on wer-Yrttti warrants. 
oecumu(at««ww» dividends in orreare. z-ex-dvidond or ex-rights, 

ra - annual rata reduced on last Hectare- juBs-ex-dStributtoa 
Nan. nr- withaur warrants, 

n- new issue I nthe post 52 weeks. The Wgn- y. ex-divtiland and sales in fulL 
law range begins with the start at traiSng. ytd - vtetd. 

ud-neddaydernrery. . z- sales in full 

Ed. sales NA Tue's. sBes 24.000 
Tue's open im 1 all 85398 



40JXB Ha.- onu nr to. 

AUB97 64.45 6X80 6X85 -077 42.901 
Od 97 47.77 47.10 47.17 -4170 24738 

Dec 77 7070 7027 7D.T7 -060 14482 

Feb 98 7122 7122 71A7 -045 6.W 

Apr W TITS 71IS 73.0 -04? 3.184 

Jun98 7005 69.70 4970 -040 1,978 
Est. sates na Tue’s. sates 10.976 
Tub’s open im *1412 up 335 


50000 IPs.- cants per ft. 

AUO 97 81.« BOSS 8062 -4 82 11261 

Sep 97 6082 6000 *015 -077 ZK» 

OB 97 8080 80.10 80.12 -077 XB54 

Now 97 1X05 8135 8145 —067 2.729 

Jon 98 SX55 HI JO 81.95 -047 1.2*5 

MOT98 8X60 BIB) 81.90 —0 *5 570 

Eg. sales NA Tue's. tBa* 5,180 
Tue's open int 2X609 up 731 


40200 lbs.- cefts car Ik. 

Jul 97 8X50 8X90 8X25 -0*0 6.123 

AUB97 8125 8040 1120 —035 12,715 

Oct 97 7170 7225 7145 -4175 8,112 

Dec 97 7035 »» 70.12 -017 4J23 

Feb 98 <055 67.90 *035 -045 1.91* 

Est sales NA Tub’s, sotos 11.713 
Tub's open tot 36242 up 678 


«U» Ibfc- cam PW m. 

Jut 97 8190 8170 COS -1J3 2223 

Aug 77 CL59 Bt JO 82.12 — 2J7 32*1 

Feta 98 7175 7050 7127 -122 622 

Eg. sates NA Tue'osBe 3767 
Tue'g Open hr 6233 UP 93 

to metric mnv 5 
Jul 97 1651 


5D tro«<u.-OQl lari Per rrovaz. GBIMAN MARK (CMER) 

Jul »7 corn 41X00 41720 -370 3754 ItSJHImarkvSpermab 

0097 415JB 40100 40670 — X20 11755 Sec 97 J7M 5727 5735 

Jan 98 40250 39070 39070 -5J0 1.842 Dec 97 570 5765 5774 

Est. sales NA Tub's. sBes XI 18 Mir 98 5832 5808 5813 

Tue's anen w 1 aft 1S781 Esr. sales NA Tue’s. s«es 

Oaftm per metric ton 
Alirtshua (Hta> GraM 

Mir 98 5832 5808 5813 

Eg. sales NA Tue's. s«es 22785 
Tue's open int 93202 up *160 


12LS mrian ban, s par 100 yen 
S9P97 OUt 2738 J826 

Soft lffl3bi 1584ft 158520 158600 Dec 97 2955 2**4 MC 

Fftward 160620 160720 160720 160020 Morn .9060 

Copper anodes (Hign Grade) Ed. sales NA Tub's. sBes 11520 

Spft 250920 351120 2537.00 254220 Tue'sapeninl 49743 off 4017 

Foryyaro 2377ft 2378ft 240420 2405.00 


Spot 61720 61820 62*20 62720 l***? * p ^H onc 

Fwrad *1920 630.00 *3820 *3900 SopW 6895 580 68*4 

raax Dec*7 5H1 ma am 

Soft 679620 6805(30 6820 00 683000 Mar 98 7012 

Fvwara 690000 6910.00 6930.00 6*4020 Eg.SOteS NA Tlte'k.SBes I4A53 

Tto Tue’s open W 42570 up 19?) 

Spat 548520 S49520 549020 550020 

Swart 553520 5540.00 554100 554a 00 MEOCAN PESO (OMER) 

Zhic fSo*cteJ Hkfli Gfotft) mWlPOMLi p ero w o 

5pft P J450M 1452 00 1439ft 1439ft -j7{™ -l«g 

Forkrart 145620 145720 1440ft 1441ft jj™ '™ j™ 

High LOW Clare Ctao optof N A^L sB^SJT, 


Financial (mnu-pii«nnpd 

Mer« 2075 19.90 2075 +0.21 5.251 

Aar*B 20.24 20.05 2074 +071 4JQ0 

May 98 2075 19.98 2075 +072 

ER. sales NA Tue’s. sales 106*67 
Tin's open ini I off J77511 

j 10200 mm 6hrs.j per r»m Dlu 

Aug 97 XI 10 X06S 2265 JV.ift 

Sep 97 1110 3 070 XD7D ».5i: 

OB 97 1125 2280 2280 73.M5 

Now 97 2764 X220 27® II it: 

Dec 97 2790 2MJ 1360 14. ;. 

39256 Jan 98 1430 1*00 1405 I4.<u 

1597 Fet>98 2755 3725 2725 10. 1^ 

542 Mce 98 2750 2715 2720 7.012 

Apr 98 1100 1095 1095 H'l 

May 98 1065 1050 mso ?«" 

Eg sates HA. Tue's. sates 17.57* 

Tub’s open ft l oft 192462 


777 4X800 aft. cents per aft 

Aug 97 59 5875 5979 .051 37.485 

SeP 97 5825 57 JO 5075 +079 10.7J! 

OCJV7 5740 56.70 5775 +077 7 I5S 

Nov 97 5640 5550 5675 +OJO 3.JM 

DecW 5675 5675 56.15 *030 5./5J 

4XS33 5670 5670 5*30 *070 X743 

1.103 FetHS 5675 5470 56.70 -0J0 I iso 

107 MmW . 9JB +075 L27* 

Eg. sates NA Tue’x sates 17^50 
Tue’s open im 1 off 752*9 

Ui. dfttar} per metric Ore - tots allOO Ions 
- _ Jul 97 16750 16600 167 50 -075 Ifc4l« 

^ A«fl97 1 6100 16775 16900 —025 15701 

Sap 97 17050 1*9.00 17050 -025 6.4*: 

lfl Od 97 17275 17120 172.25 Undl 7.014 

NO* 97 17420 17125 174 00 Unch. 4.7+: 

OecW 175 25 174 00 1 75.25 -0.25 9 ' 

Jan 98 175.75 17450 17*00 -0 50 2*. 

Foh *8 175.00 173.75 174.75 *0.75 L-o 

10740 Em V4C3 IX8S0. Prev sain : 1X641 
10,113 Prev open tnt : 73.079 up 304 

U S. doUars par barrel - lots of 1200 barrels 
Aug 77 18.7a 1850 11*2 +81? 67.TJ3 

Sop97 18.99 185V 1X97 +0.1* 5lAlk 

Oct 97 19JJ3 18*8 19.02 +0.1* 1A7 i>v 

ust bills rcMBii S!? 97 «« «-«8 *025 134.737 18.76 1922 +0.1* 10lrir> 

■V. r , Dbc ? 7 9224 9X 77 9X83 + 025 111*18 P«97 19.09 1881 1705 +0.13 16^1 ./ 

«4.m +601 7975 Mo,9S 92J6 97M rLT1 +<>-04 8&717 *"*• >9-00 1880 1904 +013 10,11*1- 

IqqI no ™ S 9167 W- 71 +*0A 51,715 NT. HT. 19.01 ,114 4^72 

DKW 9454 9454 9L« +OOI 520 3^98 92J4 9X68 93.71 +4)03 36836 «« N.T. HT. 18.97 +0.14 X*54 

^Wtes NA Tue's. sftf 1561 2^™ VAA +2” JMH fit- WtesJlJOO. Piw. rates . 68223 

oJJfuP 476 M 5ST5 ^ S3 %% Pra* apan WjIBM Ia up 10B17 

5 TR. TREASURY (CBOTl gsf.sotes: 71890 Prav.soto: 744*9 Stock Indexes 

1109406 prln- fts A afthsal IIIDpCT Pft*. Open Bit.: 51X72* up iS72 uT-ZT? 

S® 97 106-21 106-13 106-19 + 07 211671 I MONT H EUROMARK (UFFE) S8PC0MP.WDEX (CMER) 

Drc97 106-01 +07 I8i DM1 mWon- ph at 100 pet _ 

Mar98 -01 Jft 97 9686 9685 96.B6 -4L01 A137 S?- 7S TOf® -6 S5 173,7* 

Est. SBes NA Tue's. sBes 74200 AugW 9624 9t84 9626 UnS 9lsro 9,050 fi 7 -™ -625 4296 

DTCW 9664 9664 9AM +02. 520 gg gfS ^68 «71 l 

UA TnpftJiir 1JM1 4 S^ 98 W.74 9169 9172 + 

eg. sdes NA Tubs. sote 1561 Mor99 92.7* 9X70 9173 + 

Tift's men nt 8899 U> 47* Jun 99 9X75 93J0 9X73 « 

5 TR. TREASURY (CBOTl gsf. sates: 9189a Prav.Soto: 76 

1106406 orb*- pfs &efthk re TOOK? Pim.kpaiOT.; 51X72* up &572 

SeD 97 106-21 106-13 106-19 +07 210.671 JMONTH EUROMARK (UFFE) 

Doc 97 106-01 +07 1886 DM1 mOBan-pHatlOOpcI 

Mar 98 -01 Jft 97 968* 9685 94.B6 - 

Esr. sates NA Tue's. SBes 7 WO Aus 97 56-BJ «-84 9496 U 

Tub's open im I oft 113835 Sfp97 9685 9*83 9*84 u 

W YR. TREASURY (CBOT} M^98 #657 U 

SiMUOUunn- btj & jzvfcre ioodci Junes 9*52 9*50 9*0 * 

££ 9624 9626 Undi 391 91100 910iD "WB 4296 

fES 9684 Undi 28XA33 EreS- T . 2 195 , ! 8 » 

Dec 97 96J6 9674 96.75 UnA 277871 5^“** ^ TUB'S. SBCS 66.795 


TdSl 7575 














17 JO 















SIMUOUunn- BTJ & xsufc re 100 pel Jun98 9653 9650 9s. si xiTni CAC4B (Matipt 

Sep97 106-16 108-09 108-14 + 05 330480 Sap 9* 96.32 2*12 L*,, 

D8C 97 108-04 105-01 106-03 +05 4831 Dec 98 96.05 9602 9604 tnm Jft >? 2W1 0 J9178 sen 

Jr. &t. sales: 101258. Prev. mu«: 106775 SP 1 ? 7 ^00600 28968 29310 -280 

He's van Int I oft 331711 Pre». open W4 VOUm uT ini g*” K T. N.T. 7957J-MA 

U5 TREASURY BONDS (CBOTl 34A0NTK PI BOR (MAT1F1 S 29640 2979 J - 29 0 

18 Pa-SIDMOIMHI 633pai re 100 oai FF5 million - pu re 100 pet ST 41 «*«• .2x024. 

EB.sates NA Tub's. sales 1X549 
Tue’s aoen Ire 10M63 up 8*7 


375008s.- earns par to. 

Jut 97 19680 19X00 19690 -LSD 703 

Sep 97 17600 17000 ITUS -2.90 11890 

Dee 97 15650 15100 15X50 -185 5.024 

Mar 98 14589 14050 U2J0 —0.75 X396 

Mar 90 13600 13880 13880 -0.7S 932 

Esr.sBss na Tue's. sates 7862 
Tue's open W 20.642 UP 58 


Oaf? 1186 1181 1185 —0.19 9BJ63 

Mar 98 1183 11.19 1181 -0.10 41^75 

May 98 UJ4 11.10 11.10 -812 8.882 

JB9B 1113 1X99 1180 — (LIZ 1AM 

Eg. sates NA Tin's. SBeS 21,937 
Tub's own M I5fft83 up oito 

11 sa-f ibmommi +snai a, m sa: i-ra mnnpn - pu re 100 or| 

]!!-» J]« +082 7«37 

KT. HT 29575-288 073 

Morto 2972 S 29640 29795 -290 7.799 
Esf. sB«. 2X024. 

OpaitikL: 11870 oil sjyix 

Dec 97 111-22 111-11 111-22 + 12 26524 Dec *7 9*55 9 S**«m -Jrr* 

Morw 111-11 +12 2597 Mares 96.49 96^7 eaS +081 100 (UFFE1 

JunW 111-01 +12 807 Jun 90 96.40 9&J7 g*js +0.01 26.939 05 per Index polnl 

E^SOtei NA Tuf'i«i« 345,0(0 top<* 9t26 9653 96 J* + 082 30m 4725.0 48228 +310 6A744 

Tue’sreeninr 1 off **3139 X 403 9405 +aoz taro ^ Jwao d&m +3*8 X3w 

LlBORl-MONTH (CMBl) Eslsol«-ni« 

S3 DUPkn- P 7 ! Qf 100 PCL Q*u|n|ni 7416(1 im Man 

Jd 97 9 HJ1 H32 19.773 wpao ™ ’ 25tu>5 ' “P MJSl 

Aug 97 9«9 9487 9*28 +O01 19.793 J-MONTH EUROURA (UFFE) 

Sec 97 9*25 9424 94.25 +001 6546 1^1 mRtan - pis of 1 00 « 

EST sates NA Tub’s. sates 7.730 Sop” £54 9X50 9353 

Tub’s open int fiM oB WO 9189 

MOT99 9685 9582 9581 + 083 1x09* Mar,B NT N.T 49145 +3*0 

taS47. Pnnr. sates. 1X200 

Open Inl . 250*51 up 3085X Pwir open !«.■ 6&109 up 1.986 


Sep97 nS4 9X50 9353 +081 11*355 < 

2^ 9 J 9189 9197 +082 81307 

*f nr ’* 94 1* U20 t 083 49806 

J43 9 9453 9*37 +084 3*226 Moody’s 

SES S 450 Wxj +006 26506 Reuters 

Commodity Indexes 

^^«.?7% , i3« p k»xoi +a,4 twxni S? r S ^ ^ 2^^ II H 

*** i“? w . «» 9 « SIS 'SS "5^.“ 

Eft. sales: 107504 Pke». sates: 14L409 
Pie* opai kit : 264465 up 7580 

fS.69^. Pm Mtes *M1* 

Piw. open Int -334870 up 1238 

237^43 2388* 

Aasoqotod Press. London 
Futures Exchange, / 0 i7 
Pcbvkvm Exchange. 






AT&T and STET Forge an Alliance 



Northwest Stake 
Subject of Talks 


lands — KLM Royal Dutch 
Airlines NV’s shares jumped 
5.64 percent Wednesday after 
the company repeated that it 
might sell its 19 percent stake in 
Northwest Airlines Corp.. its 
U.S. partner. 

‘'Selling the shares is an op- 
tion." said Hans Leijte, KLM’s 
spokesman. “What we are go- 
ing to do with the shares is the 
question." He said KLM might 
enter into long-term contracts 
with Northwest instead. 

Separately, Northwest has 
informed KLM of its plans to 
discontinue joint ticket sales in 
August. Mr. Leijte said, con- 
firming reports. 

A sale of its Northwest stake 
would be advantageous to 
KLM not only because of the 
cosh it would raise but also be- 
cause it would put to rest a long 
legal battle over control of 
Northwest and could dear the 
way for the Dutch airline to find 
a European partner. 

KLM is hampered in allying 
itself with another European 
airline because most of them 
already have a U.S. partner. 

in Amsterdam. KLM shares 
rose 5.40 guilders to 63.70 
(S3 2.46 i. 

Mr. Leijte said the extension 
of the alliance through long- 
term contracts depended on the 
two parties' agreeing on the 
status of KLM’s shareholding 
in Northwest. 

KLM's president-designate. 
Leo van Wijk, and the airline's 
chief financial officer, Rob Ab- 
rahamsen, were in the United 
States last week for a series of 

Bloomberg News 

ROME — AT&T Corp. and 
STET said Wednesday (hat they 
would jointly sell phone services in 
Latin America and Europe, bolster- 
ing AT&T's bid to be a topcanier of 
international business traffic. 

Under the agreement, the Italian 
slate phone company will take a 
stake of as much as 30 percent in 
AT&T Unisoorce, a venture linking 
AT&T to the national phone compa- 
nies of the Netherlands. Switzerland 
and Sweden. Financial terms were 
not disclosed. 

The alliance would strengthen 
AT&T in foreign markets against its 
U.S. rivals, MCI Communications 
Corp. and Sprint Corp., both of which 
already have ties to Europe's biggest 
phone companies, analysts said. 

“This makes AT&T more cred- 
ible as it tries to line up an Asian 
partner,” said Anna-Maria Kovacs, 
an analyst at Janney Montgomery 

Scott Inc. “It's something they can 
capitalize on." 

The agreement comes 10 weeks 
after Telefonica de Espana S A aban- 
doned AT&T and Unisource for an 
alliance with MCL With STET, 
AT&T would again have a foothold 
in European and Latin American 
markets, analysts said. 

For Rome-based Societa Finan- 
ziaria Telefonica, the world’s fifth- 
largest phone company, the alliance 
would help it expand into new phone 
mark ets. 

“STET had to join an interna- 
tional alliance if it wanted to develop 
in a global market,” said Settimio 
Stigliaoo at Area Gestioai in Milan. 
“The alliance with AT&T gives it a 
credibility it didn’t have." 

In Europe, the companies said 
they would focus on increasing Uni- 
source’s presence in France, Ger- 
many and Britain. They said they 
also hoped to be the leading phone 

company to businesses in die $36 
billion-a-year Latin • American 
phone market. 

Ms. Kovacs called the STET al- 
liance a “turning point” for AT&T 
after recent setbacks, hi addition to 
Telefonica’s leaving Unisource, 
AT&T’s effort to merge with SBC 
Communications Inc., the largest 
U.S. local phone company, col- 
lapsed over price terms and con- 
cerns that regulators would not ap- 
prove the dead. 

In March, AT&T painted a bleak 
picture for investors, warning that 
earnings would drop as it spent bil- 
lions of dollars on capital invest- 
ments and new businesses such as 
wireless and local-phone service. 

AT&T’s rivals are ahead of it in 
providing internatioaal companies 
with all of their phone needs, partly 
because MCI and Sprint have 
swapped equity with their partners, 
analysts said. 

British Telecommunications 
PLC, which operates a venture 
called Concert with MCL is acquir- 

ing all of the U.S. company. Sprint 
has teamed up with Ranee Telecom 
and Deutsche Telekom AG. which 
together own 20 percent of Sprint, to 
fonn Global One. 

The announcement Wednesday 
did not comment on wh ether A T&T 
would acquire a stake in STET when 
the Italian government sells its 
shares to the public later this year. 

AT&T and Unisource's agree- 
ments does not include a provision 
for the partners to hold stakes in 
each other. 

But while STET is not acquiring a 
stake in AT&T, it is buying as much 
as 30 percent of the AT&T Uni- 
source venture, currently 40 per- 
cent-owned by AT&T and 60 per- 
cent-owned by Unisource. Analysts 
have criticized AT&T for forming 
loose i nternational allianc es. 



3400 -jUJ 

/ 3a»y»3— - — 

‘ W'fTa 'nTJ J 

1997 ; 

'Exchange ■ . %£ .Irate* 

3000 - ------ 

F M A 

jwfj J / j J 

1997 . . ! 

fey ! 


.a V 

Onto -r;;' 





Kohl Deputy Whms France Over Deficit 

Paris CH&4Q; : $‘£ L-- 


Vfeooa ' ■ A’**-- 

Zurich ' 

Source: Tetekurs 

sSfcMa; leoio ! 

■ -4:86 i 

. ;-fd47j ; 

imciigiUitfial Herald Triton: ! 

Very briefly: 


BONN — Chancellor Helmut 
Kohl’s top deputy said Wednesday 
' that the launch of a single European 
currency could run into trouble if 
Ranee failed to keep its budget def- 
icit under control. 

Wolfgang Schaeubie, the parlia- 
mentary leader of Mr. Kohl's Chris- 
tian Democrats and a staunch pro- 
ponent of the planned single 
currency, said be hoped the new 
French government would be suc- 
cessful in meeting the deficit targets 
for the single currency. 

But when asked what would bap- 
pen if the French deficit was about 
3.6 percent of gross domestic 
product, far above the 3 percent Ger- 
many is aiming for, Mr. Schaeubie 
said problems could emerge for 
monetary union. 

“It would be a problem if it came 
to a budget deficit of this size in 
France." Mr. Schaeubie said in an 
interview with ZDF television. He 
added that he hoped Paris would 
make serious efforts to limit its 
budget deficit this year, 
ifie French government said last 

week that it would not meet die 3 
percent deficit target this year. Many 
analysts say that the German deficit 
will be slightly above toe 3 percent 
threshold but that the euro, as the 
single currency will be called, will 
be launched nevertheless. They say 
toe start of monetary onion could be 
aborted if deficits in Germany or 
France are far above 3 percent. 

In another war ning apparently 
aimed at France, Finance Minis ter 
Tbeo Waigel said countries joining 
the single currency needed to en- 
force German-style budget stability. 

“A chain is only as strong as its 
weakest link.*’ Mr. Waigel wrote in 
toe newspaper of his party, the 
Christian Social Union. “So, at the 
be ginnin g of toe monetary union, 
only countries that are equally stable 
can join. Convergence determines 
the schedule, in every single coun- 

Respecting the rules for monetary 
union set out in toe Maastricht treaty 
is indispensable, he wrote. The 
treaty requires states to have a def- 
icit of no more chan 3 percent of 
gross domestic product in 1997. 

• Total SA said it was close to signing a contract with Iran and 
was negotiating a deal with Iraq on oil production.' 

The European Commission delayed a decision on whether L* 
to block 18 million European currency units (S 20.2 million) off 
Italian state subsidies to SGS-Thomson Microelectronics j 
NV, Europe's second-largest maker of microchips. The com- 1 
petition commissioner, Karel van Miert, opposes the aid,} 
saying it violates European Union rules. i 

• Sears PLC will give free store credit cards and spending} 

money to toe buyers of some of its shoe stores, as it steps upi 
efforts to dispose of money-losing properties. J 

• LM Ericsson Telefon AB has signed a $110 million GSM} 

expansion contract with the Heilongjiang Posts and Tele-, 
communications Administration in China. i 

• Cinven Ltd. has acquired the health care unit of the French! 

water utility Generate des Eaux SA for £1.1 billion (S 1.821 
billion) in the largest European management buyout of thej 
decade. AP, Bloomberg. AFX 

Report Criticizes Germany’s Economic Policy 

CixtfttJed hy Ow From Dupux in 

presentations to analysts, Mr. 
Leijte said, it is “reasonable to 

Leijte said, it is “reasonable to 
assume.'' he said, that talks 
with Northwest's managers and 
other shareholders also took 

(Bloomberg. AFX I 

BERLIN — Germany's economy 
is in “the longest phase of quasi- 
stagnation since World War D," the 
DIW economic-research institute 
said Wednesday. 

The institute forecast growth of 
2.0 percent this year, with no up- 
ward momentum seen for 1998. and 
accused toe government of running 
a “deflationary" economic policy 
that has crippled domestic expan- 
sion and pushed unemployment to a 
postwar record. 

DIW said that toe sluggish, ex- 
port-based expansion would not be 
enough for Germany to reduce its 
deficit to 3 percent of gross domestic 
product this year, a key goal to qual- 
ify for a common European cur- 

Economics Minister Guenter crit- 
icized the report, saying that DIW 
was “causing a panic" and giving 
“the wrong fiscal policy advice." 

While it is true that strong de- 
mand for German exports has yet to 
stimulate domestic investment, he 

said, “almost all experts’* maintain 
there will be an increase in invest- 
ment in the near future. 

He said the anticipated increase 
would come from favorable eco- 
nomic conditions, including stable 
prices, low interest rates and im- 
proved corporate profits. 

(Bloomberg, AFX) 

■ IG MelaQ Decries Proposal 
IG Metall, Germany’s largest un- 

ion. said a proposal by toe German 
Chamber of Commerce to reintro- 

duce a 40-hour workweek would 
endanger jobs. Bloomberg News re- 
ported from Frankfurt. 

“The return to a 40-hour week 
would endanger hundreds of thou- 
sands of jobs in toe metal and the 
electrical industries alone." said 
Klaus Zwickel. head of IG Metall. 
“To reduce unemployment, we 
need to shorten toe working week 
and nor increase it. " 

IG Metall wants employers to cut 
the working week to 32 hours from 
an average of 35 hours. 

Axa-llAP Merges British Units 

Bloomberg News 

LONDON — Axa-UAP, the world’s second-largest 
insurer, said Wednesday that it would combine its British 
insurance and asset-management businesses as. toe 
French company, bom in a consolidation this year, 
streamlines its activities in Europe. 

Sun Life & Provincial Holdings PLC, which is 60.2 
percent owned by Axa-UAP, will acquire the life insurer 
Axa Equity & Law for £690 million ($1.14 billion) in 
shares. Sun Life is also buying the property-casualty 
insurer Axa Insurance for £70 million in shares. Both 
acquired companies are fully owned by Axa-UAP. 


SA Breweries 

Wednesday, July 2 

Prices in local currencies. 


High low Close Piw. 

High lam dose Piw. 



Tiger Outs 


Preview: 3819 J5 

Amsterdam aex fades B79.02 

Previous: mjl 

37.40 37.10 37 JO 
143 139.10 141.70 
147 JO 144.10 147J0 
37-JO 27180 27180 
13890 136.50 13880 
3780 3780 37 JO 
fflJO 94 9780 
113 109J0 110 JO 
19980 196JD 19670 
3330 3280 32.90 
89 8730 89 

U 6240 44 

44 M3C 44 
102.40 100.70 103 

3S2J0 341 333XD 

111 JO 110 11048 
172 170 172 

9130 9180 91 JD 
4370 6230 6170 
45 JO 4480 4480 
7930 7790 7840 
5730 5680 5630 
3)730 31110 316 

253 24730 24830 
13880 134.70 137 

10630 10380 10430 
21230 20930 21230 
188 187 188 

6440 63.60 4430 
1*070 19040 1 90J0 
11430 114 114.10 

10870 10480 108 

43180 42130 430.90 . 
U430 11050 11270 
4! B0 4180 44.10 
243.70 239 243.70 : 



AMBB 1570 

Adidas 195 

AWpnzHdg 373 
Mono 189 

Bk Berlin 36.95 


BayerHypaBk 5388 
Bcy Veremsbarrt 7110 
Bayer 7230 

Bemdorf 9330 
Beacg 39.99 

BMW 1442 

CKAGCutortD 16430 
CaounenhanK S0JS 
Winter Beni 14430 
Degussa 9130 
Deutsche Bank 10535 

Deui Tetefcan 4245 
DrwdnerBank 6230 

SET Me 5039 
Preteal; 5273S 

248 248 248 226 

300 190 238 178 

2975 2735 29.75 27.25 

378 336. 370 338 

<12 490 542 448 

167 106 153 104 

3435 3030 3435 31.25 

4175 38 41.75 38 

177 118 ■ 149 1W 

117 101 117 107 

Fmenlus 34330 
FreseriusMed 15330 
FrierUtapp 342 
Gate 11980 

HoidefljgZnit 149 
HaitaHptt 9880 
HEW 475 

HochtW 8030 

HoedtsJ 79 Jo 

Knndodt 63980 

L*meva- 7830 
Linde 1359 

Luffliansa S 

MAM 548 

Monnemmn 78)30 
Metangesetisdwfl 35.90 
Metro 193 

Munch Rued; R 4900 
Prewsog 51930 
RWE 7480 

SAPpfd 35880 
Schema 190.90 

SO. Carton 241 

Siemens 10630 

Spnnger (Anil 1539 
Suedroder 937 
Tlrysser 431 





1540 1570 1540 
193 19110 192 

344 367 369 

187 187 18780 

3680 3482 3685 
4585 66.05 6686 
53.15 5X48 5239 
7740 7240 7140 
70.10 707 5 70JO 
9230 9230 9130 
3970 3930 3939 
1433 1442 1419 
162 16430 164 

50 50.15 49.IS 
14330 14430 14230 
9240 9330 9130 
10435 10480 10205 
4230 4240 4115 
6250 6230 6135 
341 341 36230 

15250 15330 15230 
34030 34030 33950 
117 11730 11980 
14730 16830 14730 
9830 9840 9780 
470 <70 475 

79 80 7170 

78 JO 7930 7830 
637 43930 635 

78 7830 7870 
1341 132 1360 

3130 31.90 3240 
539 54030 541 

779 78030 77630 
35 3530 3570 
19180 19280 193 

4835 4850 4845 

512 512 514 

74 7480 7485 
35230 3SBJ0 349 
190 19035 189.95 
243 74125 243.40 
10573 10630 10881 
1530 1530 1525 

935 935 940 

427 430 41430 

9&60 99.60 9930 
560 540 565 

79830 800 802 

1335 1345133030 

Kuala Lumpur 









High Low dose 










Verxfcsne L* uts 





' 3 




CAC-TOs 2909X5 














WUrans Hdgs 







908 925 


WPP Group 











185.10 18750 




20 08 





757 776 


i~ <*» i The Trib Index 


Ericsson B 






Pubic Bk 
Resorts World 
Rothmans PM 

Store Dret* 
Telekom Mol 
Utd Engineer; 

14.10 1580 
1220 1180 
2730 2675 
770 675 

9.15 195 

11-90 1180 
4.17 4 

3J6 376 
780 735 

2550 2480 
830 8J0 

1270 11.90 
1230 1220 
1870 18.10 
B.1S 780 

16 1580 
11.90 1210 
27 2630 
7JS 6.75 
9.15 9.10 
1180 1180 
4.12 4 

332 332 

7.75 735 

25 2480 


Boba fades: 413.1 2 
Preteav 46*58 







830 8J0 

1270 1220 

12J0 1230 
1BJ0 1870 
8.10 775 


FT-5E1M: <75138 
Pm toe s. 472831 

Ate»NaK 845 
MedDomeco 438 


HEX Gena* fader 324434 
PmtHISi 3229JS 

Sesex 38 index: 433330 
Previous: 4X086 
972 93075 939 930 

1455 1417141930145175 
459 451 30 459 45325 

105 9830 103 10575 

556 541.75 5x430 SA 
319 298 31175 300 

774 367 36830 36930 

35530 34730 349 350 

2230 21 22 2030 

462 44830 45130 45175 





47 JO 


M«i » 22*20 


. 225 











Merita A 





Metro B 















Note A 





Orion- yUyiuue 

199 196X0 




104X0 10X80 




125 123X0 12*60 







BEL-28 tete: 3444X3 
Prevton: 24M48 

> 16450 16575 16650 

1 7260 7310 7340 

) 9010 9220 9040 

1 3775 3290 3320 

5 18075 19875 18200 
i 1095 1920 1900 

1 7660 7680 7750 

) 3650 3750 3680 

) 7430 7ft90 7S40 

1 33J0 3380 3380 

) 6060 6110 6030 

> 13923 14275 14025 

) 14675 14/50 14750 
1 12525 13750 13775 
; 4935 4975 4940 

I 10475 10975 10625 
I 3400 3510 3390 

I 21175 21850 71500 
■ 14875 14900 14975 
1 115400 120000 116000 

Market Closed 

The Hong Kong stock mar- 
ket was closed Wednesday 
for a holiday. 

Ated Dcroecq 4J8 

AngUm Water 7X7 

Argos 5.63 

AsdaGrou) 1X8 

Assoc Brftods 5X1 
BAA 5J5 

Barctay! TZA) 

Bess 737 

BAT tod 565 

Bank Scotland *12 

BfaeOrde *28 

BOC Group 10.72 

Boots 7.23 

BPS tnd 3-23 

Brtt Aernsp 1X43 

Bi9 Airways 6-99 

BG 2-34 

Bill Land s.91 

Bill Petira 832 

BSivfl *48 

Bril Seel 133 

BfdTeteaun *61 

BTR 117 

Burmatt Gadral 1028 

Burton Gp 1J1 

Cable Wireless 532 

CadbuiySdrer 540 

Cortton Carom SX2 

CarnnlUnJan 6.94 

Compass Gp 6J3 

Courtmtds 150 

Otaons *94 

Bedroraroponerds 430 
EMI Group 11.28 

ErreroyGroup 6X5 

EntormteOS 7JJ7 

Fan Cofomal 138 

Gerrl Acddert 9J7 

GK 169 

GKN • 1X22 

GteWcOam 1153 

Granada Gp 8322 

GfaadMd 6.18 

GRE 282 

GrecnalsGp 4X5 

Gartwss *17 

GUS *21 

Hap 177 

Ksk Hldgs 19X5 

KT 862 

imp! Tobacco 19) 

Kbrafisfrer *98 

Inrfiotie 231 

Land Sec 833 

Lnsrno 175 

Legal Gat! G<p *40 

UuydsTSBGp *65 

uxnsvartty 109 

Mariu Spencer 570 

MEPC 507 

Mercury Asset 1190 
MaftontoGiW 217 

Grid 137 

«r 5S 



Irtitadwc 730.14 

Nod 6^8 

Nomfeh Union 131 

PrwfcW! 59*73 

i 368 348 367 

i 363 365 365 

i 875 885 875 

> 405 417 414 

I 670 680 670 

1351000 355000 353000 
1243000 245333 245000 
i 228 233 230 

i 705 710 710 

i 713J7 730 724 

l 983 9B6 966 

I 345 345 347 

I 353 360 352 

383 38520 382 

Astra Ini 
Bk Inti Indan 




Semen Gmft 

8025 8050 7900 

2050 3075 2100 

1525 1550 1575 

10000 10025 10050 
3800 3WQ 3775 
5600 5600 5625 

7350 7475 7475 

9775 9975 9775 
5450 5500 5325 

4025 4050 4073 

Orange 106 

P&O *23 

Pea tsar 7JJ9 

PHWnglan 137 

PovrcrGen 1JO 

ftesnlefForael 4J0 

PnxtariU *06 

RofltockGp *46 

RnkGroup 177 

meunadn 9JD 

Redand 3J9 

Reed Ml 194 

Johannesburg sfjxaWI 

Redtond 3J9 

Reed Ml 5.94 

RentoUInHU lH 

Reuter* Hdgs *40 

Rexam 238 

RMC Group 9.73 

oe 138 

Scot 5.94 

For pwestmewt 



ever y Saturday 
in tiie IHT. ’ 


inf mun ram ,rvwir« 

AroalganM Bks 



CG. SmBti 



Fit Natl Bk 



Ingres Goal 

Johnnies Hid 

Ub Lite Strut 

Rembrandt Ga 
Rust Plafiflora 

3230 3230 
277 278 

271 271 

264 263 

199 200 

1560 .1570 
49.75 49.95 


16*75 I 
3030 3030 
38X0 38X5 
2090 21 

100 1M 
6*50 4525 
76 m m 
197 3 

_W 6130 
329 JS 32930 
124 12*25 
1810 1525 
10239 10175 
1930 193S 
100.75 101-25 
4730 47 J5 
W 7030 
8030 8230 

RAftwe 2J8 

Rapil BkSCOt 594 

R1Z iq 1084 

Rat'd & Sui AS *77 

Sorobwy 171 

Sdnwtera 17 m 

SadNesmafie *62 

Sari Power *37 

Scanfeor 289 

Serem Trent 8X5 

StefiTresspR *26 

Stebe 10.29 

Sndft Nephew 1J3 

SmMKBns 11.72 

SmMBtod 732 

sarentBK *61 

5togecaacli *35 

Stand Owtor 9. S 

Tato* Lyle *60 

Tesca 178 

There Water 7& 

31 Group 511 

TIGraup 320 

Tomkins 239 

Unfcnr 1730 

UWAsswws *35 

Utd New* 7.10 

8X0 832 8X5 

*25 *25 *34 
*93 7.05 *96 

532 531 5-55 

126 126 125 

536 5J1 52] 

554 571 531 

11.92 12.16 1229 
7XS 731 7X5 

5X6 530 5X6 

3.96 *04 3.92 

422 *24 *24 

1038 10.70 1CL59 
7.13 723 7.15 

3.19 122 171 

1103 1107 1127 
*78 *94 *97 

223 2J0 2J4 

5X3 586 571 

734 7X2 736 

*25 *35 *35 

1X9 1X9 131 

*69 436 *50 

2J» 2.14 2.12 

1038 10.08 1028 
1.17 1.18 1.18 

569 587 5J1 

528 534 514 

518 537 516 

6X0 6X5 6X8 

6J0 570 6.72 

3X3 3X5 3J9 

*75 *90 *79 

4X7 *50 *47 

10.73 11.20 10.79 
*37 *29 *37 

635 7X7 479 

1X5 1.65 1X6 

739 927 9X5 

337 259 159 

1006 1109 10.17 

lira 1108 1178 

7.90 7.95 7.98 

593 *10 £90 

2X7. 2.74 2-73 

*40 4X0 4X3 

595 *08 599 

*11 *14 *14 

572 575 576 

18X8 1850 1831 
8X4 8X7 8X9 

180 180 3X7 

6J3 *97 *93 

2X1 2X5 2X7 

8X6 8-75 837 

2X4 1X7 2X3 

*24 *33 426 

*30 *X7 632 

2.03 2.09 2336 

501 503 5.09 

*93 50S *92 

1233 1271 12X6 

224 2J1 233 

532 5X3 5X2 

8X0 039 8X4 

678 *86 *81 

323 127 326 

2 2 2-03 

*10 *T1 *» 

*96 7.04 *99 

1 J3 1J4 1J7 

723 727 726 

*62 *63 *63 

531 *04 5.94 

*29 *29 *36 
339 165 173 

9.10 977 8.99 

3J4 135 334 

583 48S 585 

122 1» 118 
*3 633 63S 
233 237 23S 

9X5 975 974 
13* 136 123 

577 537 582 

1030 1036 10X1 
*63 *75 4X2 
3X7 132 3X4 

3X2 164 167 

1530 1*99 JfiXO 
630 *50 ta 

193 195 *11 

2X5 185 188 

8417 8X2 8.10 

*36 *J4 *30 

1022 1029 1024 
1X7 1.70 1X7 

11X7 11X6 1130 
776 779 7.77 
423 445 432 

*31 *35 *15 

934 9X4 935 

*50 437 *50 

171 1» 175 

7.13 7J5 728 

502 ill 503 
508 512 519 

Ben Centro Hop 


Bco Santander 






Gas Natural 




Union Fenoso 
Mne Cement 

29010 27900 
2050 1975 
6180 6130 
8490 8380 

12280 12120 
1465 i486 

7000 26290 
5643 5480 

29400 37000 
4645 45&5 

5000 4935 

3795 3240 
7880 7840 

13210 12920 
1375 1375 
33030 32700 
1885 1845 
3140 3190 

6430 6300 

1510 1500 
8070 8000 

44*0 4315 

1300 1300 

2415 2400 







Oirtsfkm Dior 

37*90 36630 37060 370 Sandvik 9 

786 741 759 780 Scania B 

980 964 973 974 SCAB 

567 559 J67 564 Jan 7. 'S22 = too 

XU ?99 30530 30*50 

274 27? 27330 272 World Inrtesr 1 

701 700 TOO 701 worw index 

, XWJ0 RngionM Indexes 

25230 248 248 2S130 . . “ 

267 262 266 263 Asia/Paanc 

278 268 27*50 269 c, tmna 

223 221 rn 6n 222 Europe 

232 230 232 23330 /v America 

163.50 16030 162 164 

8430 B330 84 8* S. America 

24830 24X20 247 JO 24380 S-E Banten A 8*50 8330 84 84 

1245 1186 1209 1207 StandoFflls 293 28*50 29230 2B& 

4471 4275 4373 4393 StensXa B 343 341 342 341 

29230 285.10 2BSX0 29030 SKF B 206 205 205 20530 

263 252 25*90 257 Spartxmken A 168 16530 167 16*50 

723 711 713 724 Stodstiypotek A N.T. N.T. N.T. 190 

994 971 976 977 Store A 12930 12730 12730 12830 

S. America 

Industrial Indexes 
Capital goods 
Consumer goods 

CLF-Dexta Faro 588 572 577 S79 S« handles A 25130 250 251 25030 I Energy 

9.15 190 9.15 935 Cw^nPV 
bxo 7.i5 735 *90 ayaney 

OfdB Agricate 1288 1288 1288 1251 VotvoB 

Danone 996 965 981 990 

Elf-Aquiloine 654 626 630 650 

EltifcreoBS 912 &65 B&i 908 — 

USSa 8X0 ^ ^ Syd! 

Gen Eaux 777 752 757 755 

Haras 44*80 427 JO 427 JO 4*1 Amcor 

IroeJrt 798 767 771 762 ANZ BM 

Lafarge 387.10 379 385 381 BHP 

Lemwtd • 1090 1052 1059 1070 Bora! 

LQnXi 2644 2450 2487 2584 Bromt* 

IVMH 1642 1561 1580 1599 CBA 

208 20533 206 207 

777 752 757 755 

445X0 427 JO 427 JO 4*1 Amcor 

798 747 771 762 ANZ BWng 

387.10 379 385 381 BHP 

1090 1052 1059 1070 Bora! 

ABOnfiaram; 27453d 

Raw Materials 

Pncos os of 3. CO P.M. Now York time. 

Change . 

J +1A2 - 

+0.81 ' 

year to date 
% change. 



+638 ' 



' ’ +13.68 


• +1.13 
















+14.31 . 



+1050 1 

+1.47 - 





+2159 I 

•.tiPUfl ‘r< :ti Pj*»e 

2*64 2450 2487 2584 Brombieslnd. 2630 2*05 2*36 2*25 

996 985 97? 9X6 Umies 175.85 +a75 +0.43 +22.58 

'JS ’JS The tmemaiional Herakl Tribune World Stack Index O tracks the U.S, dotiar values at 

36M MJK 76V 94« 2S0 mnmatxsnaJV inwsiabte aocte from 25 countnas. For more mfcwafcon. a free 




PSE Index: 276*89 
PrevtoHC 281534 

Ayala B 
CAP Hanes 
ManBaElec A 
Mato Bank 

PHI Long DW 
San Miguel 8 
SM Prime Hdg 

1175 17J5 17.75 19 

2*25 24 24 2430 

167 166 166 le7 

1025 _ 10 10 10 

86 8*50 85 8630 

570 5S5 540 570 

*80 *30 *60 6X0 

2S5 23230 Z*5 25230 

Pernod Rkrord 

Peugeot at 









SGS Thomson 





1642 1561 1580 1999 CBA 

634 610 620 621 CCAmflfi 

390 360 365 318.10 dries Al|*r 

415X0 406X0 413 4)1X0 ComotcO 

312 30330 311.10 310J0 CSR 
603 574 583 578 Fosters Brew 

2938 2800 2825 2831 Gotxtawn Rd 
2413 2327 2365 2394 IQ Austrafia 
152 143-20 147.90 154 Lend Lease 

1*15 15X6 16X1 15X4 525S*.£ fl ,! 

17X2 1*80 16.94 1*90 32527 NeuiBy Codex, franco. 

*94 *81 *92 *79 

by writing to The Tito Index. 181 Avenue Charles de GauBa. 

>x. franco. Complied by Bloomberg Hows 

7.16 7.11 7.J5 7.11 1-lu 

5.17 5ilO 5.16 514 High Lore Ctose p«e. 

AWwHFwtom 1550 1530 1550 1530 Moore 

'W 1-« ’-S »«aHTna» “ — — — - • 

T 15 12X9 13.10 13 Murata Mtg 

1840 1755 1839 1819 MINI Bdm , .. _ , 

265 25530 258 251.90 Nat Amt Bank 1930 19X4 19 J9 19X2 NldroSn 

»9 563 572 599 hat Muted Hdg 2J0 2.16 Z18 2.14 Ntotendo 

■115 12-99 Uio 13 Murata M 

29 JO 28J1 29 2*29 NEC 

1.97 1.94 1.95 1.95 Nihon 

1930 19X4 19J9 19X2 NBdroSec 

333 305 328J0 321X0 NewsOwp 633 6M 633 6X7 Ntop Express 

1030 1007 1029 1012 PodficDuntop 184 175 176 182 Kh&J 

sn nn rmw jNnn Kn/un-inH ; xsn tv t n JSSt'StLj 

633 6jQ 633 6X7 

492 480 48130 499X0 PionsertrtH 

Nippon Sto4 

678 654 663 667 Pubaroodcnst 785 7X8 7X2 7.70 NrssarMotar 

2917 3918 2963 RJoTfatO 

2115 223 5 22.97 22X7 NKK 

845 852 874 S! G*orpe Bank *70 830 8X3 *74 

15X5 1*55 1*90 15X5 WMC 

8X5 8X5 8J7 836 

B70 855 865 870 

66 6*50 66 6730 

7X0 7X0 7X0 7.70 

Synttiektoo 764 747 750 758 Westpoc Btong 8X5 7.93 7.97 7.91 NTT Data 

TWraiCSF 16130 J« 15*60 158X0 WootSSePet 1130 1TJ6 11J6 11X0 OfiPa^T 

High Low dose Free. High Low Close Pier., 

<55? >SS >S5 Moore 27VH 27.10 27 JO 27^5 

® >! NereWbaeHel 61X0 60W 61 JO 5930 

4500 4440 4450 4*50 NorarKta Inc 30* 29X0 30* 29* 

J5W 15« 1560 1540 Notch) Energy 34H 32X0 34i< 32.90< 

<850 1870 1870 Nthetn Tetecoro 1301s 127M IX 12*45. 

0^23 JP1 S 0 * 0 1LJ5 Ilk 11X5 lixir 

^ W80 PTJ One* 77V) 2715 Z7X0 27W. 

910 893 910 902 Pancdn PeWm 29 27M 28J0 29 

SS 5r troC * 1 22X0 22X0 22X5 22 M 

3« 3M 3» 357 Placer Dome 2235 2120 22k 22X0 

833 8 SB PoaifMtra 1*15 1330 1*15 1*15 

,_ n .239 242 P ctohSo sh 101X5 99 99 1019S - 

-JSff ,122 ,1^ ,l£5 XV, 38 38.15 38.4]. 

11006 10806 109tt> 10906 Rio Algam 34W TTiS 3M 33.70 

+1506 *1406 44+Ob ^ RoqersCarrW B 2*30 26 26 24 

707 693 700 707 Now 

9480 9360 9490 9370 One* 

910 893 910 902 Pancdn Petlm 

636 625 625 635 Petro Cda 

355 358 357 PlocerDome 

833 855 Pace Petlm 

239 242 Potash Sask 

1540 1510 1520 1550 Renaissance 

11006 10806 1090b 10906 Rto Algam 

Total B S32 588 59B 620 Wootaarihs 4J9 *33 *37 4J3 aiaka'Gos 

U*W 10*38 10120 106 15*90 Ricoh 

^ 384 368.10 374X0 376X0 Rohm 11700 11600 11700 11500 TaUsman Eny "wj 4235 441* 42X5i 

- jQKOTtl li*. “ 

saoPaul ° Ta,pei 

tonhraoPM 1 620X0 79SX0 79SM 820X0 S^Rey 

CerrwPW 57 JO 55.90 5*20 5630 ,2 ^ SetoWOwm 

CESPPW 77X0 75X0 75X0 7*40 9*" ^ tpmt '5 ’^2 9ekisw Bouse 

&ro, ssss gw a m .. _ IVAW1 „ 7J0 7J0 ,, 

gpss SKSS ^s ,s i ,13 g S- Eipwr 'S8 '88 ‘SS '1% sa 0 * 1 ^ Tt ggg V 

LfaMlMr 440.00 432X0 438.00 *91X0 W* “*"2 » *8 _ 66 67 66 Shta-etsuOl 3070 70X W7n w 89JU 38 “- 


Bote todero 4546X6 
Prevtous: 4S08J9 

Afla A 

Gpa Carso A1 

Gi30 ft) Fnbursa 
KOTbOnrit Me* 

5*70 5*90 5*60 
2035 2035 2035 
3*95 3*95 3*70 
12X6 12X6 12X6 
4*00 4*00 43 95 
&90 55.90 5*30 

2X2 2X9 2.42 

3170 33X0 33X0 
3175 31.95 32X0 
122X0 12330 12130 
19X2 79X6 19X2 

S5o Paulo B«rapatad«i3m» Taipei 

Bradesco PM 

Brahma Ptd 





TOO U9 699 691 Seagram Co 

,329 325 »9 328 StelCdoA 

1510 1480 1500 1490 S uncar 

’'SS M S8 ”22 11500 To«sraanEn» 
855 830 837 864 Teck B 

3920 3850 3930 3840 Tetegtotw 

1670 1 630 1 640 1650 Tekri 

510 502 502 507 Thomson 

56'* 55X0 56X5 5516- 

21 71K MU 

37X0 37 37 37 

4416 4035 441* 42X5i 

27.90 27 JO 27X0 27.95 

56 55.15 56 55 

26X0 25V> 26X5 2535, 

34J0 72.35 34'i 31.80 

SS SS 41.M 41.15 41.65 4o!90, 

IS mn Troosolta 14X0 16X0 16X5 I6XS 

uS | g !!” MW “S M S *S 

^ fi « 3 T ^ S V ^ W 

LfaMpre _ 440.00 432X0 43&.00 431X0 « & « StlkvetSuCh 

PetraSmPW 308X0 301X1 305X0 30*00 .S-S ShUeiOo 

MIBTeleraafico: 134MX8 
Prevtoos.- 13677X0 

SWNsdooaJ 3599 3550 3SJ9 35X0 

SouinCnn nxo loxo njo n.oo ri __ 

TeteraiPM 17*00 170X0 17? JO 170 JO 

Tetemtfl 199 00 195X0 199.00 1 9100 WorUOttn 

Jetarl 170X0 16*39 I69J0 16*40 

Telesp PM 36*00 358X0 36100 15*00 — 

Untenco 4130 39X0 4031 39 JO Toln/m 

ABearas Assta 
Bco Comm Hal 
BCD Ffaeuram 
Bco rfl Roan 
Craflto Itofiono 

GenernA Asstc 



13750 13460 13700 
3925 3805 3925 
5770 5565 5745 

1315 1286 1795 
28900 27650 27650 

















3020 2930 2970 3020 
1870 1840 1860 I860 

IS 12S IS 1300 

7390 7300 7300 73® 

:*!?■' ■■ ■ l.s. 

Tetar] _ 



OtentaPM 13X9 12X9 12X50 12J0 











cur 1 


26X0 2*30 25,75 2*10 



An Nippon Air 

rra,.| jjj, 9019*42 5Ulra mem 

Prwtausi 2017532 TStateBtarm US J12 liS? PffL. ,6 “ 1440 Ttfio 

„ rafshoPharm 3070 X10 3C70 303D FHrghofen Wwi 545 530 538.40 527X0 

1190 1WD 1170 1190 Ta kedo Chera 3250 3190 3220 3180 OMv 1*50 16141603X5 

Sony 9890 9550 9770 9930 Vi on no 

1060 io43 low) 106O *rcnna AntM«eiW4js 

Suimtomo 8k 1850 1810 1820 laS Prettoa. 1339X7 

5umri Otero 508 sot 504 508 BoeMerUddeh 1020 984 1005 900X0 

2?°^ 1 l’° l WO 1900 1910 CredfionstPW 49*80 48930 494 486X5- 

5unwMeW 322 31ft 321 319 EA-Generafl 3390 3317 1350 3310- 

1654 1617 1640 1610 





Rato Banai 
S Paolo Torino 

Tetacora ItoRa 


15700 159® 
2570 2590 
5465 6475 
7285 7395 

10760 1088S 
1153 US 
473 475 

2475 2510 
4330 4390 

13820 13TO 
21500 21750 
12670 13080 

loooa loooo 

504S 5045 
S53S 5590 

CaoNWitei Men: 777X9 

PrHkWS:7 * U3 

100000 97600 96500 97500 Asohi Glass 

748 737 745 731 TDK 8550 8470 8490 8460 OestEleklrb 

3950 3380 3910 3950 TahokuEIPwr 2030 2000 TOO 2000 VAStoht 

SS 937 IS? 1 ?®* HdO 1120 1140 1)40 VA Tetri 

„ 690 671 680 671 Tofcto Marme 1460 1 430 1 430 ltd} Wienertu 

L7KW" 10W00 97600 9B500 97500 Asohi Gloss n3o 1110 1120 1120 Tokya 0 Pv*r 2400 2387 2390 

,SS ilS BkTokraMSsu 2250 2210 2240 2240 Tokyo Electron SS90 5510 5520 SOT 

HyuwkdE"9- ?5S2 MSS BkYatohama 655 6d M9 654 TtrityoCai 3)8 314 }" jjj 

™ 84« 8490 8460 Oest Efaklrfz 888 87*05 874 87830-' 

2030 2000 2000 2000 VASlohl 590 570 584 568.10 

1160 U20 1140 1 140 VA Tetri 241030 2345 2392 23W 

1jS 2 M30 14*0 Wfenerberg Btte 2635 2587 2615 2595. 

655 6*3 649 654 Tokyo Gas 

2600 2550 2590 2590 TofaruGup. 

3120 3070 3110 3000 Tonen 

2100 2040 2100 7060 Tcppan PlW 

2030 2010 2030 2000 Toraylnd 

7340 2490 2540 2530 Tastsbo 

759 742 759 738 TcWcm 

Korea Ste 27300 26400 27300 26400 Canon 
Korea ExJi Bk 6290 6100 6200 6100 DmtXJ EiCC 

Korea Mob Tel 500000 472000 491000 *71000 OwflahuElec 

SSS 3222 *282 p™ zs« 2490 2io 2530 TSha 

Pohanj Iran St 67000 65300 65800 66000 Dale) 759 742 759 738 Tastcm 

SaiTBuoQ^toT *900 48MO «U0 *000 Dte-lcWKong 15* 1510 1520 1530 Taya Trust 

Samsung Bee 73500 71500 72500 71000 Damn Bar* S*9 550 SS5 549 Toyota Motor 

5WnhaoB£rt; 11300 11000 1 1 TOO 11000 MwaHouse 1380 1360 1370 13a0 raronoutriT 

DohenSec 901 887 893 fca 

“ DDI 8300a 8730n 6250a B3»i * * >** * * >•&* 

Sinqapore smwsTteesifeMi □="» _ 27* 2700 2750 27* 

!r l Preefaus: 1981X8 EtaJJapoiRy SB40a 57S0a 5800a 5800a 

682 667 678 681 

!§0 1 770 \no ISS We, hngton 

821 811 815 814 

7tt 712 716 726 AhHZetMB 

3090 3050 3070 304Q Briefly Imt 

ririfU JJJU *-*» DJUU 

3090 303D 3060 3070 gehJlOiEnr 


KldRlTkds rodfic 3383X2 
Prerim: 338S35 

Bee Mob Core 
Cdn Tire A 

Gaz Metro 

Nofi Bk Ceewda 
Power Cwp 
Power Rrrt 
Royal Bk Cda 

4110 43 4110 

2735 27 JS 2735 
3183 3530 35X5 
37Mr 37Vfr 3716 
17.95 17XQ \7.9Q 
34 3W 3190 
40.10 40X5 *30 
3116 3116 31M 
19X0 19.15 19X0 
18XS 17J0 18 

34 33*6 3195 

33 321* 3195 
25X5 2535 25X5 
9.10 9 9 

65 6190 65 

OaXtod «c*4*N 
Predens: 6S7X9 


Asto Poe Brew 5.95 5X0 5X0 5X0 Fonoc 

Ceraboe Poe 630 *05 6.10 6X5 Ft* Bra* 

OyOevts 14 1330 1330 14 FufiPhoto 

Corriaoe 14X0 1*70 14X0 1AX0 Fuftw _ 

FrarnW* OJ6 0.75 a75 075 Hactl^jiTlBk 

fattai 1670 18.40 18J0 18X0 Htatil 

DBS LraM 430 4X0 4X2 4X8 Honda Motor 

FrtBtr* Keore 10.10 9.95 10 9.9S IBJ 

2X6 2X1 2X6 2X3 IHI 

7X5 7X0 7X0 7 JO Boclru 

3X2 0X3 3X0 376 Ito-Yakada 

H.T. N.T. KT. 6X0 7AL 

3J0 3X4 3X6 3X6 Japan Tafaacci 

4X4 *82 *84 4X4 Justn 

3X2 178 3X0 3X0 Knpmo 

ksretoo lilt) 14X0 1*90 1*80 KrewtiEleC 

OSUnien»F 9.10 BX5 9X5 895 Kno 

PntawyHdgs 630 6X5 6J5 6X0 fcnrasaHHrr 

Sembawang 630 645 630 6X0 KoeraSteel 

Stag Air tortaffi 13 12.90 13 jzjo nrtiUNfppRy 

“ ' 6X0 *50 635 *50 Khto Brimenr 

28X0 28.70 28X0 28X0 KobeStoef 
3J6 3X8 168 3X8 Komatsu 

Lion Nathan 
Telecom NZ 

Janj Strategic 

«8 So raS S3 Toronto 

« s s s 

1570 1530 1560 1560 Atoatfl Energy 35.05 34V, 35 3 ^“ ~ 

1140 1120 1140 1120 4J.W 4715 47X0 47.10 Zurich 

1300 1270 1300 1280 nC‘SSL5 (p ’ I 120 17u IBJ0 17X0 < - Uncn 

3420 3370 3420 3370 Sit Montreal _ 55 . 1 s a nfi 54 80 non 

’7® 1M0 1690 1720 60W 62'A WV, 





\i . 









J 0 r; 









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11 * . 




149 i 

: If, 





iZ, r 





• M 1 





SPltodte 3585X6 
Pwrim e e 3 56 8X 6 
2249 TZK 2239 2206 
561 552 561 548 

‘ irjrt.. ' •' 


Japan Tobacco 8850a 

447 'g To W 30X5 £5 30J0 3^ ram aae ae. » 

611 599 6 ll 602 . 40.05 38X0 39.90 38X1 MusulsseR 1530 1503 1505 151* 

6750 «« ^ ^ Jft J» » MXO S 

r vrm, OOJW lltirtini 1 — - JiK 12JQ TJWMIWIO 

9 530 525 530 f“2?L£ ta,m 28 ^ 5 28X5 28 35 jnS AtdR 

a 6670a 873fc 8880a 31 tn 3lis 3L3D fO^HtteB 

3920 3870 3900 3830 34.05 3*15 

663 622 662 663 SS?™ ~ 

FJi 5 5-*> n siS 

KT. KT. KT. K» 
2235 2205 2214 2215 

3475 34U 3470 3490 
1199 1195 1196 119* 

Sing Air totear 
Sing Tach tod 

®2 ^ 2176 KM 3& 35.70 ^ aa^Oem 1»X5 13sS 139 VX 

1590 1580 1580 1500 60H AO'-a 60to ULTO OorinntR ore 947 071 577 

5d 2J S' 517 CdnSri^j ■>,« 3470 35 to 15 ac CrtfSuta se Gp R 19*75 191 19*50 192 - 

T7X0 17.73 17X1 
*30 *34 *27 

7X1 7.10 7X7 

Norsk Hydra 
Cricto Aw A 
Ptobn GaoSec 
§ogcPenro A 

Storebrand Asa 

150 146 

176 17*50 
SJO 25X0 
28X0 29X0 

146 143 
4*50 4190 

448 446 

400 395 

259 256 

139 133 

550 545 

361 355 

147 143 

143 142 

548 530 

43J0 41 

148 145.50 
17*50 174 

26 25X0 
28X0 2850 
144 144X0 
4*5) 0X0 
448 447 

396 397 

256 255 

139 132J0 
550 543 

360 353 

14*50 14150 
143 143 

540 S28 

43 43X0 

Sing Telecoms 2x9 2X7 2X7 2.71 Kubota 

Tailed Bra* *“ ^ 

106 iffi 104 3 Kyocera 

700 695 498 493 SJlS*** 

1170 1140 1160 1IW SS"?™ 

218 212 212 215 £*5? 

923 911 919 913 9 Bm * g . 

552 5*5 551 552 

3 Z£? 37® 39X5 39 jg Enw-Chemie 6520 649) 6485 6500 

i?n1 ?T-25 ?5-i5 rSHSMlS- >» ’3SS 1358 1371 


Utd Industrial 1X7 1X6 1X7 1.06 Kyushu El 

Utd OSed Bk F I5J0 15 15J0 14X0 LTC0 

Wing TalHdgs *28 *16 *20 *18 Menibenl 

tin VS a Wtec. uSh.n. 

913 >205 TlSa uM U» ^ 'fg 

9^ 88TO 8W0 90)0 ^PwiCdoA 30 ^ 5 NworifeR ^ 2343 2351 2316 

2000 1970 1990 1970 O.J0 221* aS Z3M g^BuehR ^4 1^§ ^ ^ 

S J J S gM' ^ 38 ^ 9 SSMIf B ^ i ’I 

2)10 20ffl 2060 2100 5*? 1 bridge , 27 2*XD 26X5 77 in RthemoraA - 281 -- 


Ajka A 
Alias Copco A 

5X16 indte 3303.16 gaK " 

Mmul 2110 2040 2060 2100 St? 1 bridge 27 26X0 26X5 7710 ftfctemonlA 2290 nfi 

MatwCdnun 4060 3930 4030 3W0 getoherChanA m n ® WwffiPC as m *18 F 

MatsuEJectnd 229B 1350 22M 22ro 6*00 »70 Si BndieHdgPC l^g ibot 133m i«nn t 

Mate Bee Wk 1290 1270 1270 ITU p^Wafe 11X5 11.05 11 'j lijn SBCR^ ^6 39? ' w mS 

MdvAMri iwn Ton inn 55 Imperial 0.1 71 wii? « 'It* Srhin^rv .s™ .ill .i” 39350 

10350 10250 10250 10150 MOwMkEI 
11150 10950 11150 10950 Mitsubishi Est 
220 216 219 220 MfisubbMHv 

14650 145 14550 1*550 Mitsubishi M< 

214 20850 21350 208 MSaWstoTr 

308 305 316 30SJ0 Mtliul 

1360 1320 1330 1380 71 TOlj 71 To? ScWifatarPC 

365 360 360 362 411* 60 95 41 m 3 toSB 

646 641 645 643 47'.. « 47>A M is SMH B 

1650 1620 1640 1640 19.1 S 18.95 18 95 1905 Sutler H 

878 »5 87° 4755 47.10 47.45 Swiss RetosR 

820 ,2S ,?I5 SSSSSSUK oH. iws Sss^" 

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PAGE 17 


Mton Paris 


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Bangkok Holds Its Breath 

Floating of Baht Is Seen as ‘Crazy’ or ‘Brave’ 

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By Seth Mydans 

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Connoisseurs in Bangkok know 
that one of the city’s best wine 
cellars and one of its best collections 
V of expensive cigars can be found in 
. , . ’ *'s . a bushed and softly lit Volvo show- 
room in the center of town. 

" A jazz band plays in the back- 
ground as diners savor European 
cuisine at linen-covered tables. 
Money is no object, it seems, either 
for the showroom's visitors or its 
owners. The expensive sedans 
parked just across the polished 
wood floor are little more than or- 

For a decade now, Bangkok has 
bees awash in more money than it 
sometimes seems to know what to 
. do with. 'With the fastest-growing 
economy in this fast-growing re- 
gion, Thailand has been one of 
Asia’s free-maiket success stories. 

But Over the past year, the ecotf.'* 
cany has begun to contract, and 
people here are worried. Exports are 
down sharply, the budget is facing a 
deficit for the first time in a decade 
and growth slowed to 6.7 percent 
last year, from 8.5 percent in 1995. 

The stock market has dipped to 
eight-year lows, the current-ac- 
count deficit has risen and bad 
loans to the property sector have 
brought a crisis to financial in- 

On Wednesday, after weeks of 
suspense and rumors, Thailand 
took a difficult and controversial 
Step that many econ omis ts had 
been demanding, effectively de- 

announced that it would allow the 
currency — the baht — to float 
within a broader range against the 
dollar and other currencies. At the 
same time, to protect against con- 
tinuing speculative attacks on the 
currency, the central bank raised its 
benchmark interest rate by two 
points, to 12.4 percent. 

The value of the baht imme- 
diately dropped by nearly 20 per- 
cent, to 29 JO against the dollar. 
Hie stock market rose on the news, 
but with many Thai companies car- 
rying heavy foreign-currency debt, 
the long-range consequences of the 
devaluation were still in question. 

It was an unexpectedly decisive 
step by a government that has come 
under criticism for its vacillation in 
the face of growing economic 
problems. Its success could deter- 
mine the future of the shaky seven- 
month-old coalition government 
led by Prime Minister Chavalit;. 

“It was a very risky move — 
courageous and risky,” said a 
Western economist “The con- 
sequences are totally unknown. It's 
an extremely fluid situation. You 
have to admire Chavalit Either 
he’s crazy or he’s very brave.” 

Some economists had argued 
against a devaluation, saying it 
would create serious difficulties 
for many companies that relied on 
foreign-currency dealings and for 
manufacturers that imported com- 
ponents from abroad. Some 
warned that devaluation could 
bring inflation and the danger of a 

Thai companies and individuals 
enrrendy hold about $70 billion in 

foreign debt A devaluation of 10 
percent would mean the debt jumps 
by $7 billion, an increase that could 
be fatal to many banks and prop- 
' erty companies. 

The devaluation was the latest 
signal to Thailand's expanding 
wealthy class that the country's 
growth is not cost-free and that the 
time has come to bring their spend- 
ing under controL 
Around Southeast Asia — in 
rapidly growing countries like the 
Philippines, Malaysia and Indone- 
sia — it was also the latest sign of a 
new “Thai model” of overbuild- 
ing and overextended property in- 
vestments that must be avoided. 

Like Hiail and, though to a lesser 
extent, banks in these countries 
have extended large loans to their 
last-expanding property markets, 
risking similar financial problems 
among the lenders. 

In- the capital city of Bangkok, 
where most of Thailand’s new 
wealth is centered, this economic 

S 'cture takes graphic form. Above 
e proliferating wine bars and 
automobile showrooms, an over- 
powering new skyline has 
emerged/The hundreds of impos- 
ing modern buildings are filled 
with enough unsold space to satisfy 
the city’s residential and commer- 
cial needs for the next five years, 
according to some estimates. 

And the building boom contin- 
ues. There is so much dust in the' 
city's air that construction has be- 
come one of Bangkok's leading 
causes of pollution. 

The surprise moves announced 
Wednesday came after repeated, 
unequivocal assurances by the 

Picking Up 

Strong Sales Lower 
Chances of Rate Cut 

Bloomberg News 

SYDNEY — Australia gc 


Hie Bank of Thailand's gov- 
ernor, Remgchai Marakanon d, 
announcing the currency move. 

government that the baht would not 
be devalued. That alone could be 
taken by critics as an indicator of 
the unreliability of the countiy’s 
economic managers, the Western 
economist, who spoke on condi- 
tion of anonymity, said. 

When be book office last week, 
Thailand's new finance minister, 
Thanong Bidaya, promised in- 
vestors that there would be no 
sharp changes in economic policy. 

And a few days ago, Mr. 
Chavalit repeated the assurances in 
a nationally televised speech, say- 
ing. that if the currency was de- 
valued, “we will all become 

■ge* British i ,,/& Inflation Tamed, Indonesia Outlook Is ‘Ideal 5 

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Bloomberg News 

JAKARTA — Indonesia’s infla- 
rate slowed to 5.1 percent in 
while the country’s mcrchao- 
- disc trade surplus more than 
mbled in April, the government 

; ! The inflation figure was better 
l'.. than many analysts had expected, 
f They’ve managed the inflation 
Outlook very well,’' said Bruce 
— Ralph, head of equities at PT Ba- 
b ann Pembinaan Usaha Indonesia, a 
—government-owned securities firm; • 
> The government's success in con- 
j * UoHinc '-inflation — which threat- 
'.^en^fio'rise into double digits last 
year — has been a key to the soaring 
rjtock market of 1997, Mr. Rolph 
:: said. “You’re looking at better than 

7.5 percent economic growth over 
the next two years, so it's an ideal 
situation for stocks.” He said he 
expected the benchmark index to 
‘ ‘easily ” increase 9.6 percent by the 
end of the year, to 800 points. 

On Wednesday, the benchmark 
Jakarta composite index slipped to 
730.16 from a record 731.62 on 

- The June inflation rate was die 
third-lowest in 17 months, down 
from 5.2 percent in May and 15 
percent in June of 1996. 

“The numbers look good, and 
they’re telling investors to stay put 
in Indonesia Jot. oow,.’ ! said KJF* 
Liew, an economist ait .Rashid Hus- 
sain Securities in Kuala Lumpur. 

Indonesia's merchandise trade 

to $590 million in 
April, from a 10-month low of 
$2433 million in March. Econo- 
mists said the surplus in merchan- 
dise trade should help ease concerns 
about a widening current-account 
deficit The current account is a 
broader measure of trade and in- 
cludes services and investment 
The trade surplus was $340 mil- 
lion in April 1996. - ■ 

While low inflati on and a bigger 
surplus are good news for the In- 
donesian economy, Mr. Liew said 
be was concerned infla tion could 

accelerate in coming months. 


crease; that’? got'fo abow.ijp sojne-.. 
tune,” be said. Indonesian wages 
were increased by an average 10.1 

percent on April 1. “I don’t smell 
smoke yet,” be said. 

Indonesia has traditionally relied 
on large merchandise trade sur- 
pluses to help balance the annual 
deficit it runs in its capital account, 
which measures trade in financial 
and other services. 

Last month, the World Bank said 
in its annual report on Indonesia that 
the current-account deficit would 
likely widen to SlO.IOfrUlion in the 
year ending March 3 1 , 1998, up from 
$8.80 billion in the last fiscal year. 

The rising current-account deficit 
‘ s is-one of the flies in the ointment,’ ’ 
Mr. Ralph-' sai4 Still, he did not 
think it would rise fast oirfar enough , 
to undermine the other positive ele- 
ments in the economy. 

of good economic news Wednesday 
as reports showing better-than-ex- 
pected retail sales and building ap- 
proval results in May pointed to- 
ward an improving economy. 

Treasurer Peter Costello, mean- 
while, said an upgrade in Australia ’s 
credit rating to the top AAA rating 
could occur in six months since 
Moody's Investors Service Inc. had 
raised its “outlook” on Australia 
because of its steady fiscal policies 
and prudent interest-rate strategy. 

Retail spending rose 2.9 percent in 
May to 1039 billion Australian dol- 
lars ($7.97 billion), while building 
approvals rose 2J2 percent the same 
month to 12,327 — their highest 
level since May 1995. The permits 
were valued at 2.35 billion dollars. 

The figures “atgue against another 
rate cut,” said Anthony Thompson, 
an economist at HSBC Australia. 

Hie central bank last cut the in- 
terest rate it charges banks for 
overnight cash — die benchmark for 
bank loans to consumers — on May 
23 by a half-point to 53 percent 
The reports followed the an- 
noncement Tuesday of a record 
monthly trade surplus in May of 873 
milli on dollars. 

In addition, Moody’s said the new 
credit outlook for Australia reflected 
an improved budget 
The government plans to have a 
surplus of 1 .6 billion dollars in die 
year starting July 1 . 1 998, compared 
to 3.9 billion dollars in the year that 
began Tuesday. 

■ 4 New Telecom Licenses 

The Australian communications 
minister, Richard Alston, said 
Wednesday that four companies had 
won licenses to build and operate 
networks in the newly deregulated 
telecommunications industry, 
Bloomberg News reported from 

The Australian Communications 
Authority gave the licenses Tuesday 
to AAPT Ltd., which is majority- 
owned by AAP Information Ser- 
vices Pty..; Primus Axicoip, a sub- 
sidiary of Primus Telecommunica- 
tions Group Coip.; Optus Vision, a 
branch of Optus Communications 
Pty^and-Telstra Multimedia, part of 

Investor’s Asia 

Bong &>ng. vyStagi ipom- 

■ • • :;v -g&ajfc Times-. 

Tokyo . 
Nikkei 225 


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.t^artec > - - Composite index 

731.62 -090 

iy^e>Wm^ton ■ fCSE-40 


2,49096 +0.09 

SotirtaQr ,.: . ; s^»^yetnd6K 


4956.09 - +t:83 

Source: Teie kurs 

liMcnautHnjI 1 (vrahl Trihuik- 

Very briefly: 

• Hong Kong's chief executive. Tung Chee-hwa, said a 
blueprint armed ar solving the territory’s chronic housing 
problems would be drawn up within three months, but he 
declined to say what action was planned. 

• Nomura Securities Co. executives were questioned by the 
Tokyo police about possible bribes to government officials. 
The authorities are investigating whether the company gave 
politicians and bureaucrats first crack at buying popular new 
stock issues, guaranteeing them a profit. 

• Nippon Broadcasting System Inc. shares rose 3.8 percent 
on news thar Fuji Television Network Inc. will be publicly 
listed next month. Japanese media reported that Fuji will begin 
trading on the Tokyo Stock Exchange on Aug. 8. Nippon 
closed up 200 yen, at 12.700 ($1 10.63). 

• South Korean semiconductor manufacturers said a de- 
cision by Motorola Inc. to stop making dynamic random 
access memory chips would do iinle to reduce excess ca- 
pacity. The American company will stop making the chips at 
the end of the year, taking a pretax charge of $170 million to 
exit the loss-making business 

• Acer Group promoted Simon Lin to vice chairman of its 
U.S. affiliate in a bid to strengthen its money-losing operations 
in the world’s biggest computer market. 

• Thai vehicle exports in the first five months of 1 997 rose six- 
fold from a year earlier. The Federation of Thai Industries said 
exports through May reached 1 1,740 vehicles, an increase of 
646 percent. The value of the expons rose 87 1 percent, to 3.75 
billion baht ($151.8 million). 

• B shares traded in Shanghai fell to near eight-week lows on 
concerns that euphoria related to Hong Kong's return to Chino 
will fade and that Beijing will renew a crackdown on stock 
speculation. The B-share index, which tracks stocks available 
to foreigners, fell 3.4 percent, to 79.69. Trading in B shares was 
suspended in Shenzhen because of a holiday in Hong Kong. 

• Mitsubishi Motors Australia plans to increase production 
almost 50 percent at its Adelaide plant to meet demand for its 
Magna and Verada autos worldwide. It aims to produce 

tire ■ government-owned 6 Ws» lhis - vear ’ U P A 996 - 

Cqep„ which currently dominates ; • Queensland Cotton Ltd. of Australia predicted that cotton 
the telecommunications market in prices will decline over the next two yeans in the face of 
Australia. competition from artificial fibers. Blowuhe*. afp 



. •I.-.*-' - 

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*..*•! ■* ■ *•- 

WINE: ‘Plonk’ Found Pleasing 

.Continued from Page 13 

y *#"'?> i 

41 ’ .• 



tu. - 

n-- ■ 

this year from Languedoc, 
itwbose 300,000 hectares 
(741,000 acres) of grape 
plantings represent twice the 
vineyard space in California. 

' Australia's BRL Hardy 
buys in bulk from Languedoc, 
and Soufhcorp Holdings Ltd.. 
; Australia's largest wine en- 
terprise. has a joint venture 
' with Val (fOrbieu, a huge 
; Languedoc agent which itself 
■ exports mere than 200,000 
cases a year to the United 
. States. 

The new venture, PenvaJ 
Wines, produces an array of 
Languedoc wines, 198,000 
cases of which is heading to 
European and American mar- 
kets this year. 

1 “In Languedoc, we’re 
freer than in an appellation 
conuollee region,” said Peo- 
val’s president, Bernard 
Schorr. “We can experiment, 
for example do a cabernet- 
syrah blend for the U.S. and 
UJKL markets, which you 
couldn't do anywhere else in 
France.” • 

. The excitement oyer 
single- grape wines is being 
yraiehed warily in Bordeaux, 
which is fiercely proud of its 
most famous appellations, 
among them Pamllac, Mar- 
gaux, Pomerol and Sau rentes, 
which are almost always 
made fromblends of different 

“If a Bordeaux cabernet 
reinforces the popularity of 
Bordeaux wines, that’s fine, 
but in the prestige appel 
7 Sow Fm hostile to me id ... 

* because we achieve our won- 
derful complexity by Mend- 
ing grape varieties,'’ said 

Hubert deBouarddeLaf orest 

of Chateau Angelos in Saint- 

■v *T think the combination 
df Bordeaux and. grape vari- 
eties On labels could be rather 
interesting,'’ said Jean-Marie 
Chadnmnwr,bead of Dourthe 

Freres, a Bordeaux wine 
agent “What I oppose is the 
idea of varietals leading to 
low-end Bordeaux wines. 
Bordeaux must never lose its 

But the demand for varietal 
wines has already pushed 
some prominent Bordeaux 
producers to market single- 
grape wines. 

Baron Philippe de Roth- 
schild SA, whose projxrties 
include the prestigious 
Mouton-Rothschild, began 
selling four varieties of 
Languedoc wines for be- 
tween $6 and $9 a bottle 15 
months ago, exporting 
250,000 cases. 

Gas d’Estoomel, another 
elite Bordeaux chateau 

Sony Pl ans Direct Sales of PCs 

Bloomberg News 

Sony Carp, plans to begin direct sales of personal 
computers in competition with such manufacturers as 
Dell Computer Corp. and Gateway 2000 Inc. 

Ope year after it introduced its fust personal computers 
in die United States, the Japanese consumer-electronics 
giant said Tuesday it was making plans to sell personal 
computers, Trinitron computer monitors and other 
pnxmets directly to consumers, said a spokesman for 
Sony Electronics in San Jose, California. 

Analysts said Sony probably would not pose a sig- 
nificant threat to other personal-computer makers. “We 
really have not seen them materially impact” the tnaiket, 
said Jeff Baker, analyst at Principal Financial Securities in 
Dallas. “Their systems are priced so much higher than 
what Compaq, Dell and all the others are selling.” 

The Sony spokesman said the company envisioned 
direct sales as a complement to its network of retail 
dealers, and would not compete with them. 

began . marketing a tine of 
jangle -grape wines for export 
last year. 

“American consumers 
want more information about 
their wine — if it’s red, 
what’s the grape variety, 
where it cranes from, who’s 
the maker,” said Jean-Guil- 
Jaume Prafs, who runs the 
chateau with his father. “The 
French consumer only wants 
to know where it’s 'from.” 

Avis de Pressc/Belranntinachiing 
PhannaMHeafth (FCP) 

(WKN 973039) 

DerVerwahungsrat derPhanna/w Health Managentent Company SA, 
Luxembuig, Verwaltungsgesellschaft des Foods Commun de 
’tecmwnt PharmaAvHeaJth, gibt hiermi 

Placement Pharma/wHealth, gibt hiermi l bekaont, daB gemaS emem 
VErvahungsratsbeschluB vom 10.06.1997 und in Ubereinstimmung 
mit Artikel 7 des Vkrwaltungsrcglemenls des o.g. Fonds die 

1 997 tiglich erfoIgL 

des Vbrwaltungsneglemeiits des o.g. 
Benschnung des tnventanvenes xb don 01. Juli 

Luxemburg, den 17 06 1997. 

Pharma/wHealth Management Company S.A. 
Der \fenraltungsrat 

■VJtr-:. "■ ’ 

*4? . **- 

w.-v*-* * 


^dv Denmark? 

•• For a hand-delivered . 
subscription on the day 
of publication in major . 

Danish cities, 
caB 00 33 i 4143 9361 


Sod did dlnveslissement & Capital Variable 
Kansallis House - Place de l’Etoile 
B.P. 2174* L-1021 Luxembourg 
R.C No B 9497 


Notice is hereby given that an Extraordinary General Meeting of Shareholders of Fidelity World 
Fund Sicav ("tie Company") will be held at die registered office of the Company in Luxembourg 
.an July 14, 1997 at 1 1.00 ajn. to consider die following agenda: 

I. -To resolve to liquidate fidelity .World Pond. 

" 2. To appoint Fidelity Investments Luxembourg S.A. as the Liquidator and to determine the 
powers to be granted to the Liquidator and the liquidation procedure. 

3. To fix the date of the second Shareholders’ Meeting to hear the Report of the Liquidator arid 
to appoint Coopers & Lybrand as the Auditois of the Company. 

4. To fix the date of the third Meeting of Shareholders to bear the Report of the Auditor and to 
decide the close of the Liquidation of the Company. 

fit older to deliberate validly on item 1 of the agenda, at least 50 % of the shares issued must be 
represented at the Meeting, and a decision in favour of the Resolution must be approved by 
Shareholders holding ar least 2/3 of the shares represented at die Meeting. 

Subject to the limitations imposed by the Articles of Incorporation of the Company with regard 
to ownership of shares which constitute ia the aggregate more than three percent (3 %) of the 
outstanding shares, each share is entitled to one vote. A shareholder may act at any Meeting by 

Dated: February 19. 1997 , 

By Order of the Board of Directors 

ItanamHmrawpMBajnwn'r'rfnr'Xrionir HA IS9? 

Public Enterprise of 
PTT Traffic, Srbija 

has sold a 49% strategic equity stake in 

Telekom Srbija a.d. 

on behalf of 

The Government of the Republic of Serbia 


DEM 1,568,000,000 

j'ointly to 

Telecom Italia 5.p.A. (29%) 
Hellenic Telecommunications Organisation S.A. (20%) 

NatWest Markets acted as financial and 
telecommunication sector adviser to 
Public Enterprise of PTT Traffic, Srbija 

NatWest Markets 

s • 


PAGE 20 

Pay-Fer-Chew Record 

boxing The Mike Tyson- 
Evander Holyfield bout, in which 
Tyson bit off a piece of the cham- 
pion's ear, set pay-per-view re- 
cords in the United States. 

A spokesman for the Showtime 
cable network said Tuesday that 
preliminary numbers showed that 
the fight was purchased by from 1.8 

to 1.9 million people, breaking the 
1.6 million record set by the first 

1.6 million record set by the first 
Tyson-Holyfield match in Novem- 

The heavyweight title fight car- 
ried an average price of $49.95 in 
the United States, although some 
cable systems charged as much as 
$54.95. (AP) 

• In the Philippines, one Tyson 
fan was shot and killed, another was 
bitten on the ear and a third lost his 
girlfriend all because of the title 
fight against Holyfield. a Philip- 
pine newspaper reported Wednes- 

Baldwin Bacani. a Holyfield fan, 
was shot and ktiled by his uncle in 
the northern town of Munoz. The 
two had been drinking with friends 
after watching the fight on tele- 
vision, the newspaper Today said, 
quoting police reports. In the same 
town, an unidentified fan engaged 
in a healed argument with his 
neighbor, Manny Reyes, after 
Tyson was disqualified. The fan bit 
Reyes's ear during a scuffle. 

Another Tyson fan. who was 
courting a village girl in nearby San 
Isidro, also came to grief. 

The girl’s father, a Holyfield fan 
furious at Tyson’s ear-biting in- 
cident, barred him from seeing his 
daughter again. (Remers, AFP l 

• The maker of processed dog 
treats is shipping a bucket of its 
best-selling pigs' ears to Tyson. 

‘"Pigs’ ears have become the hot- 
test dog chew treat of the ’90s,” 
said Miles Handy, president and 
founder of Oink-Oink Inc. “We 
figured that if Mike Tyson has to 
bite ears, it would be much better 
for all concerned if he picked up 
one of our pigs' ears instead of 
sinking his teeth into one of his 
opponents." (AP} 

Sa Pinto Flees Portugal 

soccer Ricardo Sa Pinto, who 
was suspended from the Por- 
tuguese national team after assault- 
ing the coach. Artur Jorge in 
March, has agreed a move from 
Sporting Lisbon to Real Sociedad 
or San Sebastian in Spain — but he 
might never play for them. 

The disciplinary commission of 
the Portuguese Soccer Federation 
is expected to announce the result 
of its investigation into Sa Pinto’s 
conduct on July 10. and it has been 
reported in Portugal that they will 
suspend him for 13 months. 

• A Paris court on Wednesday 
ordered French soccer international 
Patrice Loko to pay 22,000 francs 
($3,800) in damages to a dozen 
policemen he insulted after they 
arrested him for running amok two 
years ago. (Reuters) 

Vieri Joins Atletico 

soccer Juventus, the Italian 
champion, said Wednesday it had 
sold striker Christian Vieri to At- 
letico Madrid for $20 million and 
signed Uruguyan striker Daniel Fon- 
seca from Roma. 

Luciano Moggi, the Juventus 
general manager, declined to say 
how much the club had paid for 
Fonseca. He said Vieri had signed a 
four-year contract with the Spanish 

Moggi said Juventus had not 
wanted to sell Vieri, a powerful 
center forward. 

“It was his own decision to go," 
Moggi said. (Reuters} 

Haley Plans to Retire 

football Charles Haley, a de- 
fensive end who is the only player 
in the NFL to win five Super Bowl 
rings, will retire before the start of 
the Dallas Cowboys' season be- 
cause of back injuries. (AP) 




World Roundup 

Two 16- Year-Olds Set for Centre Court Semifinal 

By Ian Thomsen 

International Herald Tribune 

W imbledon, England —The 

menu for Wednesday at 
Wimbledon: One "tasty 

dish” and two leftovers. The "dish," to 
steal a term from the British tabloids, so 
besotted with her, was Anna 
Koumikova, the 16-year-old Muscov- 
ite. Her boyfriend is Sergei Fedorov, 27, 
a Russian ice hockey star. 

Their relationship was made public 
last month when the Detroit Red Wings 

were celebrating their National Hockey 
League championship with a parade. 
Sitting in a car with Fedorov, a Detroit 
winger, was Koumikova. 

So the scene at Centre Court Wednes- 
day seemed like a retum-of-serve: 


Koumikova was making it to the first 
semifinal of her young career — having 
done so at the world's greatest tour- 
nament, via an upset of the French Open 
champion — and applauding her from 
the family section was Fedorov. He 
raised his hands to her as if lifting the 
Stanley Cup over his head again, but 
afterwards be avoided discussing their 

provocative relationship. “I’m sorry, I 
have no comment for you," he said. “I’m 

have no comment for you,’ ’ he said. “I'm 
just here on vacation. I try to rest." 

Koumikova, who turned 16 last 
month, will meet No. I Martina Hingis 
of Switzerland in the semifinals. Either 
of them could become the youngest 
Wimbledon singles champion of the 
open era, as Hingis is just four months 
older. She has won all three of her grand 
slam matches against Koumikova, two 
of them against at junior level. 

Hingis had no trouble in her 6-3, 6-2 
quarterfinal victory over her friend, Den- 
isa Chladkova of the Czech Republic. In 
the other semifinal, a meeting of 
“older’ ' ladies, No. 3 Jana Novotna will 
meet No. 8 Arantxa Sanchez Vicario. the 
runner-up fra- the last two years. Novotna 
beat Yayuk Basuki of Indonesia, 6-3, 6- 
3, and Sanchez Vicario moved past 
Nathalie Tauziat of France. 6-2, 7-5. 

Koumikova knocked out Iva Majoli. 
the No. 4 seed, 7-6 (7-1), 6-4 before a 
late-arriving audience that included 
former president George Bush and his 

promisingly Tuesday. Sampras found 
his _ a6-4, 6-3.6-7 (8-10L6-7 (1-7). 6- 

4 victory over Petr Korda — a little 
tough. Up a break in the second set when 
play resumed Wednesday, Sampras was 
two points from a clean sweep before 
letting waste a 5-1 lead in the tiebreaker. 
The 29-year-old Czech literally went 
hopping and dancing into the final set, 
but it's not smart to aggravate Sampras. 
He broke Korda immediately in the fifth 
set and then muzzled him. allowing 
Korda only two points against Sampras' 
serve for die remainder. 

"Probably I think he used a lot of 
energy today," Korda said. “I don’t 
know if he's going to miss that to- 

FnOKi' Silvan/Agcacc France -Pic'-k 

Dini Kamara of Ghana, left, competing for the bad on Wednesday with 
Alejandro Melono Botta of Uruguay in their World Youth Cup semifinal. 

Uruguay and Argentina in Final 

Civydrd by Our SttfFitiaj* 

KUALA LUMPUR — Uruguay and 

Argentina won hard-fought semifinals 
Wednesday to set up an all-South Amer- 

Wednesday to set up an alT-South Amer- 
ican final in the World Youth Cham- 
pionships in Malaysia. 

Uruguay beat Ghana, 3-2, and the 

Wokld Soccer 

defending champion, Argentina, beat a 
courageous Irish team. 1-0. 

Alvaro Perea scored in the 104th 
minuie to see Uruguay through after 
Ghana had fought back from 2-0 down. 

Marcelo Zalayeta scored to put Ur- 
uguay ahead in the 12th minute. 

Ghana twice hit goal posts before 
Uruguay made it 2-0 a minute before 
half-time, when Walter Coelho beat 
Ghana’s goalkeeper, Osei Asamoah. 

The Africans narrowed the margin a 
few seconds later when Odartey Lawson 
banged home a shot after a swift coun- 
terattack. They equalized when Ur- 
uguay's Alejandro Bona deflected the 
ball into his own goal. 

In Kuching, a 54th minute goal by 
Bernardo Romeo gave Argentina a 1-0 
victory over Ireland. (AFP, AP) 


wife, Barbara. The patrons of the Royal 
Box seemed to take great pride in his 
presence — and even more so that he 
had been seated in the second row. 

The Russian easily outran the 19 year 
old Majoli, but the shock was how well 
she out-hit Majoli. When Koumikova, 
the world No. 42. connected with a 
forehand it seemed to jolt her for an 
instant the ball stayed on her racket and 
she was frozen — and then it was gone, 
one skipping hop past Majoli and off the 
back wall. Koumikova and Majoli were 
both students of Nick Bollettieri’s ten- 
nis academy in Florida. Afterwards he 
said, "It's important to be around win- 
ners and Sergei has won a Stanley Cup. 
I believe Federov does very well for 
Anna, he's laid-back and calm, and that 
helps Anna tremendously." 

Federov and Koumikova met in 
America, but they both came from poor 
backgrounds in Russia. With this vic- 
tory the blonde Koumikova nominated 
herself to the game's next glamorous 
star. “We’re playing a ladies’ sport, and 
it should look like we’re laches out there 
on the court," she said. 

“Anna Koumikova is probably the 
most beautiful girl I've ever worked 
with," BoUettieri said. But the public 
fascination with her beauty won’t di- 
minish her ambition, he predicted. 
“She’s on a mission. She's going to be 
around for several years. Her main focus 
is she wants to be No. 1 in the world." 

As for the two leftovers,' No. 14 Tim 
Henman of Britain and the American 
No. I Pete Sampras, both finished off the 
fourth-round matches they had begun so 


Major League Standings 

New York 

Kansas Qty 

ambhcm warn 


W L Pet. GB 

H 37 j658 - 

46 34 575 6W 

37 41 -474 14'A 

37 42 468 15 

37 44 .457 16 

court al amaoN 

41 35 -539 — 

40 40 400 3 

! 37 41 .474 5 

V 36 43 Ail 6 

3S 45 .438 3 


48 34 .585 — 

42 39 .519 5V4 

39 41 .488 8 

35 49 .417 14 

New York 

East division 

W L Pd. -GB 

S3 29 446 - 

48 33 .593 4^ 

46 35 468 6V, 

45 36 sst m 

« 23 57 388 39 


St. Louts 

























WEST onnstQK 

San Frauds® 










Ub Angeles 





San Diego 







Montreal 110 000 000—2 10 0 

Toronto 000 000 010—1 2 0 

Judea UrtwM (9J and Widget; Clemens, 
OuantrlU (9) and Oflrta. W— Judea, 10-2. 
L— Omens, 12-3. St— U rbina \l». 
HRs— Montreal R- White (TOD. Toronto, S. 
Green (7). 

Kansas City 001 000 000—1 5 0 

dWWlN) 401 IN BO*— 4 11 1 

Rusdb J. Walker (7) and Fauna 

F.Lostlla, Wendell (9) and M -Hubbard. 
W-F. Castilla 5-9. L-Rusdi 3-5. 
HR— Chicago, GkmvOle {21. 

Ambeire ' 102 ON 001—4 10 1 
Colorado 000 000 100-1 6 0 

CFinJey, Peirivol {8} and Leyrttr Burke 
Mtfimy w>, Scott (®, s. Reed TO and 
Mamraring. W— C Finley 4-6. L— Burke 2-3. 
Sw-Peretrol HO). HRs-Anahebn, 

Edmonds (14), Alicea (4). 

Son Diego «H 301 010-6 is i 

Oakkod ooo 100 34*— 8 n i 

Bergman, Bruske 15), TiWom# (7). 
Bodmer (7), Batchelor (8) and C Hernando*; 
fneta Mahler (6), A. Small (8) and Moyne. 
GaWiKnms (ffl. W-A. Small 6-4. 
L-Bochttar 1-4. HRs-Oatdand, Giambi (9), 
Magadan (3). Bmsius (S).. 

Son Francisco on 010 011—4 B 0 

Seattle 126 003 21*-1S 16 2 

VanLnruflngftm, Ron (3), R, Rodriguez (71, 
Carton (B) and BerryhiH, Jensen (7); Moyer, 
McCarthy f7). B. Wefis (81 and DaJOTson. 
W— Moyer 8-2. L— VanLnxfinghm 
HRs— San Francfeca Kent (17). AuiiUo (4). 
Seattle, A. Rodriguer (12). Cruz Jr 2 (8), 

MBunutae DIO 000 000—1 3 0 

Cbidnafi 000 010 71 S— 9 8 0 

J Mercedes. Finite (7). Vlllone (81 and 
Levis Burba and LOQmr. W— Burba S-X 
L-J. Mercedes 3-4 HRs-Cindnnafl. 
Pendleton ft), J. OGver (6). 

New York (NL) 000 000 042-4 12 0 

Detroit 303 101 00s— 8 It l 

BJJones, Udle (5), Acevedo (7). 
Kashlwada (B1 and Hundley; MoeMer, 
BroraP IB), M. Myers (9), To Jones (9) and 
Casanova. W— Moehler 6-6. L— B- JJones 
I2J. Sv — ToJones fH». HRs— Detroit 
Higginson (13), Fryman (11), HomeBn (7), 
Pride CD. Easley (12). 

Chicago (AL) on ooo ooo-o 5 i 

Pitt sbur gh ooo 000 21*— 3 a 0 

Baldwin. Kordmar (7). C Casffio (8) and 
Pena, Fabregos (7); Cooke, La belie (9) and 
Kendall. W -Cooke 6-9. L— Baldwin 5-9. 
Sv — LotsaOe (8). 

Florida 000 no 000—2 9 1 

Bosfaa 300 001 23 k— 4 14 0 

Rapp. Hutton 14), Cook (7), Helling (7) and 
C Johnson; Eshetawn, Waufci (6). Corai (71 
and Heflttterg. W-Ertetman 24 L-Hopp 
4-6. 5»— Corel (II. 

Attadd 000 002 001—3 10 1 

New York (AL) Ml ON 000— 1 6 1 

Neagte Wohfere (8) and J. Lopez; 
Mendoza, Lloyd (B), Medr (9) and Posoda. 
W—N eagle 12-1. L-Mendara 3-3. 
Sv— Wohlers (181. HR — Atlanta, Ktefcri 

Mlnaasehr OOt 000 000—0 5 1 

St. Lents ON 300 OOBt— 2 7 8 

Hawkins. Swindell (61, Guardado (ft), 
Trombley 18) and G. Myers Stotttemyre, T. 
JMothews (8), Eckerstey (9) and Lanpkin. 
W— SMflcmyre 7-5. L -Hawkins 1-3. 
Sv— Eckswley CIS). HR— SI. Look Lumpkin 

FModetobta 000 100 000-1 7 0 

BatOmare BIO 100 Jtt-4 13 3 

Beedt Btazter (7). Brevier (Q, Games (8) 
and Parent Erickson. Orosco (B), RaMyere 
(93 mat Webster. W-ErWWon 11-3, 
L Beec h 0-4. SY-RoJWyere (261. 
HR&— Baltimore. R. Palmeiro (14). Webster 

devetand ON 030 401-8 15 1 

Hoatoa Ml 050 000-6 ID 0 

Jr.Wright A. Lopez (51. Plonk (5), Mesa 
(7), M. Jackson (9) and S -Woman Halt Lima 

(7) , Mognante (71, Miner (9) and Atrsmus. 
W— Plunk 3-2. L— Lima 1-4. 5v-M. Jackson 
(10). HRa— CJewstand. Ramins (It). 
Houston, Bagar (1). 

Tews aio 110 000—3 10 0 

Los Angeles Ml 103 Ola-6 12 0 

Santana Whiteside (6). Gunderson (7), X 
Hernandez (7) and I.Rodriguec CandioTtL 
□reffart (6), To-WorreO 19) and Plana. 
W— Dreifoit 3-0. L-Santona 3-4. 
5v — To. Worrell (17). HRs— Texas, 

l. Rodriguez (11), Ju-Gonzataz (18), Palmer 

(8) . Los Angeles. Kanos 2 (18), Monde-si 


Rrsl Basemen l. Jett BagvreB, Houston 
1,494,752. 2. Andres Galarraga, Colorado, 

1,185850. 3, Fred McGrifl Atlanta, 

Second Basemen: 1. Craig Bigg to, Houston, 

1.161.61 0.2. Eric Young, Colorado, 84941 0-3, 

Ryne Sandberg. Cbtoga 73&720. 

Turd Basemen: 1, Ken CamWti. San 
Dingo, I.43&736. Z Okpper Jones. Atlanta. 
1,1 024185. 3. Vhiny CostHa Cotorada 


Shortstops: l. Barry lari'm. Cincinnati 

1.160651 . 2. Jeff B la user. Attain, 971,124. 3. 
Walt Webs, Colorado. 671,142. 

OvffMdors: 1, Kenny Lofton, Altonfe 
2174613. 2 Larry Walker, Cotorada, 

1,7324)86 3. Tony Gwyrm, San Diega 

1,60X730. 4 Barry Bands, Son Franctsca 
1459,313. 5. Dante Bichette, Cataroda 

924363. 4 Deion Sanders. CinOnnatt 
657,070. 7, EBs Burks, Colorado. 609,450. 8, 
Gory Sheffield. Florida 58L479. 9. Sammy 
Sosa Chicoga 529,407. ia Matos Alou. 
Ftorida SQW78. 

Catchers: 1, Mike Pimm. Los Angeles, 

2426.2 1 3. 2. Jm lor Lapei. Atlnma 59U58. 2 

Ltii.-r juaiiuTT,' y«w«j»«I IV“ 

Anna Koumikova, an unseeded 16-year-old, racing to play a shot against Iva Majoli, the 19-year-old 4th seed.; 

That will sound fine to Boris Becker, 
the No. 8 seed, who has yet to lose a set 
and spent Wednesday resting for his 
momentous quarterfinal against 
Sampras, who would rather have been 
meeting the three-time champion a 
round or two further along. 

“For the rest of his career, Boris 
should be seeded in the Top 4 no matter 
what he’s ranked — he gov to the finals 
here seven times, he's won here three 
times," said Sampras, who is seeking 
his fourth Wimbledon title in five years. 
“Walking out with Boris, a packed 
house — that’s what the game is ail 
about to me right now," 

Sampras also was “very impressed" 
that Henman has been able to satisfy 
British expectations by advancing to his 
second straight Wimbledon quarterfinal, 
this time with a two-day, 7-6 (9-7), 6-7 
(7-9), 7-6 (7-5), 6-4 victory over the 
defending champion, Richard Krajicek. 
Krajicek already looked defeated when 
he showed up on Centre Court to play the 
final anticlixnactic set, having lost an 
argument the night before to suspend 
play while their fourth-round match was 
even at one set apiece. By the fifth game 
Wednesday a run of bad volleying cost 
Kraj icek his serve. To see him refusing to 
took at the noisy crowd around him, at 6 

feet 5 inches (1.96 meters) keeping hiS; 
head down between points, stifling his; 
personality to prevent the British audi-^ 
ence from making him a v illain — was 
realize that Henman has become more*** 
than a single player this week. In any; 
other setting he is the winner of just one 
ATP Tour title, at Wimbledon he is aphe-; 
nonienon backed by a choir of 1 3.000. ! 

“If l was playing against the whole of. 
England, I aon’t know," said Krajicek., 
who took the loss in good humor. “But 
I know they were very enthusiastic. The! 
only thing 1 do know is that I'm nor 
going to name my kid Tim, because f 
hate that name.” : 

Is This Soccer or Player Abuse 

Washington Post Service 

J OAO HA VELANGE, the president 
of FIFA, has come out with an ad- 
mission that won’t sit well with the 
money men at the headquarters of the 
governing body of world soccer, but 
then he’s retiring, so he doesn’t have to 
be politic anymore. 

Havelange said recently that too much 
professional soccer is being played in 
the world. Soccer officials are sacri- 
ficing the long-term health and fitness of 
the players for immediate payoffs in gate 
receipts and the television revenue. 

“Everyone — players, directors, 
doctors, coaching staff — wants to 
make money, and for that to happen, 
they have to play." Havelange said. 
"When I came to power, FIFA organ- 
ized only two competitions every four 
years, the World Cup and the Olympic 
football tournament. Today, we have 1 1 
competitions every four years." 

Someone once worked out that in the 
course of a match, a top midfield player 
runs five or six miles. And that’s not a 
steady jog. It’s stopping and starting, 
twisting and turning, jumping and fail- 
ing. Soccer makes an enormous physical 
demand. Asking teams to play more than 
twice a week is unfair and dangerous. 

Last year, the English national team 
flew to Moldova for a World Cup qual- 
ifier (it won, 3-0). There were vacant 
seats on the plane for 10 players whose 
injuries ruled them out of that game, in 
only the first month of the new season. 

FIFA routinely warns leagues to work 
rest time into their schedules. That 
doesn't stop confederations from piling 
on the tournaments, endangering the stars 
who are their main attractions. There is 
no explanation beyond money for the 
existence of the silly Intertoto Cup. the 
midsummer tournament of also-rans for 

Vantage Point / Alex Johnson 

young Brazilian striker, was burned out 
in Brazil’s 7-0 thrashing of Peru in the 
Copa America semifinals last week, 
failing to score in a game in which it 
seemed two ball boys came off the 
bench and got goals. 

In the last calendar year, Ronaldo has 
played almost 100 matches: four pre- 
season friendlies, seven games in mis- 
cellaneous club tournaments, two Span- 
ish Supercup games, about 40 league 
games, six Spanish Cup games and nine 
European Cup Winners Cup games with 
Barcelona, to go with two Olympic war- 
mups, six Olympic games, seven in- 
ternational friendlies, three Tournoi de 
France exhibitions and six Copa Amer- 
ica matches with Brazil. 

That’s cruel and, for his various em- 
ployers — his club, his country and his 
sponsor, Nike — economically unsound 
in the long term. But then for Barcelona, 
his club last season, die long term does 
not matter if Ronaldo gets his wish and 
moves to Inter Milan. 

Last summer, two Brazilian club 
players — the Sao Paulo midfielder 
Andre and the Santos defender N arc iso 
— started a league game against each 
other. They left at halftime to catch a jet 
to Rio, then on to Moscow, for Brazil's 
friendly against Russia. Because the 
Brazilian league march had been pushed 
back for TV. Andre and Narciso were 
required to be in two places at once. 

Then there’s the U.S. league, Major 
League Soccer, which may mistreat its 
players worse than any other. It plays in 
the height of summer, something no first- 
rank league should do to its players. In 
1994. doctors were warning teams to take 

32 in brutal heat and humidity, with; 
squads so small that they can’t even field 
two full teams for practice. • 

Moreover, this season, teams 
routinely have to play two games in' 
three days, and more than once. U.S. : 
stars have played a national team game- 
and then jetted across the country to.g, 
play a club game less than 24 hours * 
later. The league's rulers said they had : 
commitments to use certain stadiums at 
certain times, but no other league seems" 
to have such difficulty working out flex-* 
ible arrangements for match dates. ) 

“The quality of the game must be-’ 
paramount and not the continued milking ; 
of football's cash cow.” says Jurgen* 
Klinsmann, the German captain. “It ap^ 
pears that ail the financial possibilities , 
must be taken advantage of — to the cost 
of the top players. It is getting very dif- 
ficult to get your body through all this." 

UEFA, the governing body of Euro- 

pean soccer, encourages its leagues to 
limit league schedules to no more titan 34 ' x 4 

games, revoking a place in the UEFA £ - / 

Cup for leagues that play more. While ff , 

trying 10 cut the numt«r of games clubs t-' j' £5 
can play under the auspices of their na- fic- 
tional associations, UEFA has increased ^ ... 

the games in its own competitions, en- - x - 
larging ihe European Champions Cup ^ 
and creating the Intertoto Cup. * 

Meanwhile, FIFA, also eager ro ex- 
ploir the appeal of the top clubs, said this I 

month that it planned a new world club '*51 
championship, to be played during what 
used to be the summer break. ; 

Even so, Havelange’s underlings at " } . ^ 

FIFA are concerned. “We are not in a A La ' 

circus, we are in a game," says Sepp — — ■ 

Blatter, the FIFA Secretary' General. •_ 

three spots in the UEFA Cup. 

It was plain that Ronaldo, the great 

extra care to protect their players during 
the World Cup. Those squads olaved 

the World Cup. Those squads played 
only three to six games; MLS teams play 

“Players need time for recuperation? 
There are physical and mental limits." 

KM Man waring. Cotomda 49&930. 

Japanese Leagues 


Hiros him a 





enmuu. Luom 

W L T Pet .GB 
45 23 0 461 — 

Final standing: riaty 6 victories; Yu- 
goslavia 5; Spain 4' Poland 1- Croatia 1; Gor- 

In qiiartBrflnats. on Friday In B ui cel u n u: 

Greece w Poland,- Russia w S pan Lithuania 

vs Yugoslavia and Turkey vs Italy. 


Arizona— Signed OL Rob Setby to 1 year 

34 31 Q SO 9V, 

34 34 0 J00 11 


29 35 0 .453 14 

30 37 0 448 14Va 

World Youth Cup Finals 

28 40 0 .412 17 

Pal el 

Nippon Ham 



W L T Pet .GB 

37 22 1 .625 — 

35 29 2 £45 A'h 

38 32 0 -4*3 i'h 

33 36 0 478 t 
u n i 4io m 

Latte 26 3fl 2 JOH 13'4 


Voku8& Yorahiri & 13 Innings 
Yokohama 6, Qwnldil 3 
Hiroshima «. HansNn, pptL rafti 
Ora i Seibu 3 
Date) 9, Nippon Ham 4 
KMeteo L Latte ! 


Uruguay 3. Ghana 2 

Argentina 1, Ireland 0 
Uruguay meets Argentina in final and Ire- 
tad ptay5 Ghana In Med place ptayoN an 
Saturn ay In Shall Atom. 




European championship 


Turkey 82. France 71 
Russia 93, Lithuania 64 
FTMAL oYaMMNAj Gww 6 victories 
Russia & Lithuania 4 1 Turkey 3 ; taracf 2; 
France 1. 

Yugoslavia 79, Sport 70 
Italy 74 Croatia 68 



Jana Novotna (3). Czech Republic, def. 
Yayuk Basuki, Indonesia 6-3, 6-3. 

Anna Koumikova Russia del. iva Mo'iaH 
(4), Croatia 7-6 (7-1), 6-4. 

Martina HingK (1), Switzerland, del. 
Den iso Chladkova Czech Republic, V3, 6-2. 

Arantlffl Sanchez Vicario 18), Spain, def. 
Nathalie Tauziat France, 6-2. 7-5. 


Tint Henman (14), Britain, det. Plcharo 
Kraiicek (4). Nethtiftands. 7-6 (9-71.6-7 (7-91, 
7-6 (751. 6-4 

Pele Sampras (I), United Stales, del. Petr 
Korda (161. Czech Republic, 6-4 6-1 6-7 (B- 
10). 6-7 (t.71. m. 


•CSTON-Adtvaled RHP JimCorsI from 15- 
day disaoied Bst. Optioned P HP Kerry Lacy ia 
Pawtucket ll_ 

BOSTON BED— Put c Bid Haselman on 15- 
day disabled list, R HP Chris Hammond on i s- 
day disabled list retroaahw to June 28, and 
38 Tim Naehring on 15-day disabled list 
rolroartnro to June 24. Recalled LHP Pan 
Mahay from Trenton, EL and C Watt McK eel 
and INF Aquimedez Pan from Pawtucket. 

CLEVELAND — Recoiled INF Damian jack, 
wn from Buffalo, AA. Oplioned LHP Sieve 
Kline To Buffalo 

YOBd-Nomed Loan Trosr vice pres- 
ident and general counsel. 

OAKLAND- Put S5 Rafael Soumtgal on 15- 
dfly disabled HsLRecolJed SS Tony Baftola 
from Edmonton. PCL 

RHP 806 Woteort »o 

Befl,ll «d RHP Jos las Man- 
zandlo ham Tacoma. 

Tampa BAY-Sqned P Terry McCormick. 


abjzona— L oaned LHp ^ , 
Tucson, PCL. 

HOdSTan— 1 Waived SS Pat LisJOCh (or pur- 
pose of giving him Ms unconditional release. 
Activated OF Bod Abreu From IS- day dis- 
abled lfet_ 

PiTTSBURSM-Optiarwd INF Brandon 
Cromer tram Carwina. SL to Cataary, PCL 
touis- Act«fa»c<| INF David Bell tram 
disabled Rsl. 



char lotto— S igned G David Wesley. 

SAM ANTONIO— Agreed to terms with G Av- 
eiy Johnson on 3- year contract. 



buffalo— S igned OT Jamie Nate. 

Miami— S igned CB TetroU Buckley to 2- 
ywr contract extension. 

Philadelphia— S igned WR Anfuwan Wy- £ 
att to 2-year Contract and RB-KR Derrick 
Witherspoon to 1 -year contract 
tampa Bay— A greed to terms with CB Al 
Harris. WR Nigca Carter and DT Anthony 
DeGrate on 3-ycar contrnctej; 

bostoh— S Igned LW Ken Baumgartner to 
3-year eontrad. 

Carolina— N amed Jason Nieberg gamy 
night operations and promotions assistant. . 

Colorado- R ee signed D Jon Klemm to 3- 
year contract. Re-siflned G Craig BIKngttuilo 
I -ye« contract 

demott— Re signed restricted fro* agent 
RW Martin Lapointe to 4-year Contract 
DAUAS-Re-gigned D Dan Keczreer to 2- 
year contract. 

t 105 *“ 6 ELfi*-AgnMd to terms with LW. 
sean O'Brien on l -year contract. 
nashville— N amed Jack Dffler president. 
NEW YORK islanders— A greed ft terms 
with LW Mike Hough, LW Jim 
Storm and G Wade Flaherty. 
new vork rangers— A greed to terms wttti 
conn Campbell, coach, on multiyaar con- 

. ST-Louis-RetensedGJon Casey, D Trent 
fowney, F Sergio Momessa and F Rob Pear- 


Concordia— N amed Ran Maare womens 
basketball coach. Pat Mllcrtdl men* bas- 
ketball coach. 

Tulsa— A nnounced the resignation of 
titeve Robinson, meres basketball coach, » 
he can take same pa smart at Florida Stole. 
Virginia state— Named Peggy Qovts 

women 5 oosheraali coach. 








^ An American Discovers 
a] It’s Tough ‘Over There ’ 

e. ir. 

rafT* 6 ** 

The Loneliness of the Long-Distance Cyclist 

. By Samuel Abt 

International Herald Tribune 

C hris Homer will not be at the 
start of the Tour de France 
on Saturday in Rouen, of 
course. As a first-year pro- 
fessional, he hardly expected to make 
the team. No loss, he said with a shrug, 
no loss this year at least. Instead he 
will spend the time back home in the 
United States, getting well 
: : Homer .can describe all the symp- 
toms but has not yet diagnosed that he 
has a classic ailment. “Honestly, they 
were die hardest four months of my 
life,” he _ said. “Incredibly hard. 

Every aspect you can think of. it was 
incredibly hard for me to be over 

there."-. - 

“Over there" is Europe, specif- 
ically France, where Homer, a 25- 
year-old Californian arrived in Feb- 
ruary to join his new bicycle racing 
team. La Franc aise des Jeux. 

He arrived full of hopes and am- 
bition after a splendid career as an 
amateur in America — “Everything 
went my way last year in the States," 
where he won 13 races and “finished 
top 10 in more than 60" — and then 
discovered what so many other Amer- 
ican riders have learned before him. 

The language, the weather, the iso- 
lation, the loneliness all overwhelmed 
him. “It’s been a bard year in Europe." 
be admitted recently in Pennsylvania, 
where he rode strongly in a series of 
races in the Tour of America. He en- 
joyed being back home, Homer said. It 
was all so familiar. 

. “I'm glad to be back with ray 
friends and family, getting back to 
normal, getting back to my normal 

Majoli. the 19-y ear-old 4 th 

it 5 inches (1.96 meter. • koepmn 
ad down between 
rsiraality to prevent the Knu ,h 
cefrom making him j * _.•**. 
dire That Henman h.\< bee- in* nt 
in a single player th; • •.» eck In a" 
her setting he is the \\ mr.vr ni 
JPTour title. at WimbV.^n he i>a(* 
imenon backed by a ct-.-ti ..] | -jk*) 

can't as a cyclist because you never 
have a set schedule where you can 
say. ‘O.K., I can go to school Mon- 
days, Wednesdays and Fridays.’ 

“If I hadn't got so homesick and 
left, I think I would have got much 
further with the language because i 
was just starting to pick it up." 

Although his program called for 
him to return to San Diego at the start 
of June, he left France two weeks 

Don’t misunderstand, he added, he 
looks forward to returning to Europe 
at the end of July and picking up his 
career. Until then, he's recuperating. 
There’s a lot to recuperate from. 

“It’s good to get the break," he 
said. “It was necessary. I was gaining 
weight because I was bored, and the 
only thing for me to do was eaL And 
you can’t race heavy oveT there. From 
145. 147 pounds, I went to 155. 156. 1 
would go back down to 1 50 as soon as 
1 started racing — a couple of days of 
racing and you get pretty hammered 
and drop a couple of pounds, but you 
never get down to race weight." 

Looking trim in Pennsylvania, he 
credited the four to six hours of train- 
ing he does daily in San Diego and his 
return to health after assorted ail- 
ments in Europe. 

Denny Neagle of the Braves pitching to a Yankee in the first inning of Atlanta's victory over New York. 

Tigers’ Homers Dismantle Mets 

Detroit Wallops 11 in 2 Games of Interleague Play 

H IS problems starred when 
he came down with a heavy 
cold shortly after the season 
began in February. Despite 
that, he finished a creditable 26th 
overall in the Etoile de Besseges. in- 
cluding a top 10 finish in the last daily 

“Then in the Tour of Navarre I 
pulled a hamstring muscle and missed 
a couple of days of riding. Then in the 
Tour of Murcia I got food poisoning 
the night before the race started. Sol 
missed the whole race plus three days 

“I missed a lot of training and a lot 
of racing and when 1 got back to 
France it was zero degrees Celsius, so 
it was difficult to train. You train two 
hours maximum. I’m used to the 

* ‘So you go back into the house and 
I don’t have my girlfriend there, I don’t 
have friends to call and go out with, it's 

t rainin g, co mmuni cating again. 

“Without any other Americans on 
the team, that makes it difficult," he 
said, echoing a dozen American riders 
before him. Almost all of them lasted 
briefly with their European teams, an 
outcome that Homer, who holds a 
two-year contract, insists he rejects. 

“Being an American going to 
Europe — there’s nothing you can 
really do to make it easy. You just 
have to adapt It just takes time. 
You’ve got to adapt got to. ’ ’ 

His Francaise des Jeux team has 
been understanding, he continued. “1 
think they expected this. 1 haven't got 

“If 1 was playing jg.; u ,m lfc % hole; 
island. I don't know . ' ■ Kraih.* 

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mow thex were \er> eiiihu.i.biic Ti 
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ting to name my ki.i Tim. beau* 
itethat name." 


The Assachiled Press 

The Detroir Tigers finished their in- 
ter league series against the New York 
Mets as they staned it: bashing home 

The Tigers hit five Tuesday night and 
1 1 altogether in iheir two games against 
the Mets in Detroit. 

Detroit won Monday by 14-0 and 
took an 8-0 lead Tuesday night before 

Baseball Roundup 

too cold to be outside, so you just sit 
inside the house and eat Right from 

think they expected this, l naven t got 
any real results, just been working for 
the leaders, so I don’t think they’re 

Hex Johnson 

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happy but I think it was expected 

“They’ve done everything they 
can to make it easy for me. It's a great 
squad, and the management has done 
a good job of trying to make me feel at 

And yet, and yet “No one to talk 
with, and calling home is quite ex- 
pensive and I don’t have my girlfriend 

in Europe and so not doing too much 
talking for a four-month period makes 

it quite difficult. 

“The racing's bard there, but it’s 
not so much the racing that makes it 
hard. It’s the style outside the racing 
that makes it hard, and unfortunately 
that carries over into the racing." 

- Horaer, who lives near Paris next 
door to a team official, Alain Gal- 
lopin, speaks little French. "A little 
bit, a little bit only," he said. * ‘I’d like 
to be able to study it. but you really 

there, it started coming downhill.” 

Working for the team by setting a 
pace for its leaders and letting them 
ride in his slipstream, he rode hard in 
some ofjhe spring classics and failed 
to finish any. 

"It's more of a job in Europe." he 
said, comparing racing there to the 
American version. “Everyone’s there 
to do their job. And in the U.S. the 
riders aren't making that kind of 
money. Everyone’s doing it in the 
U.S. for fun. so they’re your buddies, 
even riders on other teams. 

“In Europe, it’s much more cut- 
throat, everyone’s trying to hurt 
everyone else to win the race, 
whatever it takes to win the race. In 
the U.S.. it’s kind of whatever it takes 
but they’re not willing lo kill each 
other over iL Everyone's there to have 
a good time. 

“No one's going to retire rich from 
racing in the U.S. That’s the differ- 

settling for an 8-6 victory that ended 
with the bases loaded with Mets. 

Bobby Higginson led the homer bar- 
rage. hirting three Monday and tying a 
major league record Tuesday in the first 
inning with his fourth in four at-bats. 

Brian Hunter was on base for each of 
Higginson’s four homers, setting the 
stage for big innings. 

“It’s hard to believe Hunter’s a .240 
hitter and Higginson’s not going for the 
home-run title.” said the Mets manager. 
Bobby Valentine. 

Higginson 's streak ended when he 
took a called third strike in the third 
inning Tuesday from the Met starter. 
Bobby Jones. “1 was just looking for the 

ded a two-run shot for the Mariners, 
who have homered four or more times in 
eight games this season. 

Braves 3, Yankees 1 Atlanta beat New 
York for the first time in six tries dating 
back to last year’s World Series as Ryan 
Klesko, benched for most of the Fall 
Classic, hit a two-run homer in support 
of Denny Neagle (1 2- 1 ). 

Atlanta dropped the final four to New 
York last October and lost. 1-0, in 10 
innings at Yankee Stadium on Monday. 

Otioies 4, Phillies i Randy Myers got 
his 300th career save as Baltimore 
handed Philadelphia its eighth consec- 
utive loss. 

Myers became the ninth pitcher in 
major league history to notch 300 saves. 
Myers, who has 26 saves this season, 
joined John Franco as the second left- 
hander with 300. 

Lenny Webster and Rafael Palmeiro 
homered for the Orioles. 

Reds 9, Browers i Joe Oliver homered 
for a third straight game, and Terry 
Pendleton hit a grand slam during a 
seven-run seventh inning that carried 

Cincinnati over visiting Milwaukee. 
Dave Burba pitched a three-hitter to 

perfect pitch," Higginson said. He said 
he was aware of the record. “1 just 

couldn't do iL" 

The Mets scored four in the eighth 
and two in the ninth before Todd Jones 
finally got Bernard Gilkey to hit a game- 
ending fly out with the bases loaded. 

Travis Flyman homered immediately 
after Higginson’s first-inning homer. 
Bob Hamclin hit a three-run homer in 
the third inning, Damion Easley bit a 
solo homer in the fourth and Curtis 
Pride hit a solo homer in the sixth. 

The major league record for homers 
by a team in two games is 13. 

Mariners 15, Giants 4 Jose Cruz Jr. 
drove in a season-high five runs with a 
pair of homers as Seattle buried visiting 
San Francisco. 

Cruz, the third pick overall in the 
1995 amateur draft, has eight homers in 
26 games since be was brought up from 
the minors May 31. Alex Rodriguez hit 
a three-run homer, and Russ Davis ad- 

gei his first victory since May 18 and 
end the Reds’ distinction as the only 
major league team without a complete 
game. Burba also had two hits. . 

Cardinals 2 , Twins O Todd StOttlemyre 
struck out 10 and allowed five singles in 
seven scoreless innings, and Tom 
Lampkin hit a two-run homer as host Sl 
L ouis beat Minnesota. 

Indians a, Astros 6 Sandy Alomar Jr. 
extended his hitting streak to 27 games, 
and Mart Williams and Tony Fernandez 
hit two-run singles in the seventh inning 
for Cleveland. 

Alomar’s 27-game streak tied John 
Flaherty for the second-longest hitting 
streak for a catcher in major league 
history. Benito Santiago holds the rec- 
ord of 34 straight games in 1987. 

Manny Ramirez, who earlier let Tim 
Bogar’s hit down the right-field line 
become an inside-the-park homer, made 
it 8-6 with the eighth shot into the upper 
deck in Astrodome history. 

Dodgers 6, Rangers 3 Eric Karros had 






— 5 ~- — 




AMS) TWt WBSixT | 


PAGE 21 

his second two-homer game in inter- 
league play, leading host Los Angeles 
over Texas. 

Karros's second homer of the game 
and 18th of the season put the Dodgers 
up 4-3 in the sixth. Raul Mondesi hit his 
17tb homer two pitches later. 

Red Sox 9, Marlins 2 Troy O'Leary 
was 3-for-t as Boston bounced back 
from its error-filled opener against vis- 
iting Florida. 

A night after the Red Sox committed 
four errors to help the Marlins win the 
first meeting between the two teams, 
Boston had 14 hits and 1 1 walks. 

Expos 2 , Blue Jays i On Canada Day. 
Jeff Juden took a no-hitter into the 
eighth and finished by giving up two 
hits in 8’A innings as Montreal edged 
Toronto in front of the first sellout at the 
Sky Dome since 1995. 

Juden (10-2.) outdueled Roger Clem- 
ens, allowing a leadoff homer to Shawn 
Green and a one-out single by Orlando 
Merced in the ninth before Ugueth Ur- 
bina got the last two outs for his 15th 
save. Clemens (12-3) gave up a run- 
scoring double to David Segui in the 
first and a solo homer to Rondell White 
in the second. 

Angels 4, Rockies 1 Chuck Finley 
won his first game since May 31, Tim 
Salmon went 4-for-4 and Jim Edmonds . 
homered for Anaheim at Colorado. 

The Angels, who snapped a six-game 
losing streak in interleague play, also 
got a solo homer from Luis Alicea. 

Ccd>s 6, Royals 1 1n Chicago. Shawon 
Dunston had three hits and Ryne Sand- 
berg drove in two runs as the Cubs 
handed Kansas City its fourth consec- 
utive loss. Frank Castillo gave up an 
unearned run and five hits in eight in- 
nings for the victory. 

Athletics 8, Padros 6 In Oakland, 
Dave Magadan. Jason Giambi and Scott 
Brosius hit two-run homers as the A’s 
rallied to beat San Diego. 

Oakland trailed. 5-1, before scoring 
three in the seventh and four in the eighth 
on the homers by Giambi and Brosius. 

Tony Gwynn of the Padres went 4- 
for-5 to raise his average to .399. It was 
his 39th multihil game of the season. 



In Baseball’s 
Poor House, 
The Pirates 
6 Just Play’ 

By John Mehno 

Washington Pun Sen'ice 

PITTSBURGH — Whar do you get 
when you pit a team with a $9. 1 million 
player payroll against a team with one 
player earning $1 0 million? An unusually 
large crowd ar Pittsburgh’s Three Rivers 
Stadium gleefully rooting against the 
Chicago White Sox and their S68,000-a- 
game left fielder. Albert Belle. 

One player for the Pittsburgh Pirates 
said that this latest display of baseball's 
contrasting class structure had “no rel- 
evance on the baseball field." 

“Out there you just do your job,” 
said the Pirates’ firei baseman, Kevin 
Young. "You just play the game. " 

That is not the way many others see iL 
The first game of the reams' three-game 
interleague series Monday night — 
which the Pirates won, 3-1 — drew 
28,070 to Three Rivera Stadium. That’s 
more than twice the number the Pirates 
had averaged this season for their three 
other Monday home dates. The Pirates 

beat the White Sox again, 3-0, on Tues- 
day night in front of 22,613 fans, ap- 

proximately 3,000 more than the av- 
erage for that night. 

And the atmosphere was as charged 
as it has been since the Pirates’ playoff 
seasons of 1990 to '92. "I was 
pumped." said Jon Lieber, the pitcher 
who struck out Belle four times Mon- 
day. “That’s as good a feeling as I’ve 
had in four years in the big leagues." 

Lieber, by the way, is making 
$335,000 this season. Young, the Pir- 
ates' $350,000 cleanup hitter, did what 
Belle did not do Monday night — he 

On Tuesday, Jose Guillen hit a two- 
run triple in the seventh to break a 
scoreless tie. and Steve Cooke pitched 
eight shutout innings. He gave up five 
hits and did not allow a runner past 
second base. 

Every series seems to bring some sort 
of monetary anomaly involving the Pir- 
ates. They are still paying $2.2 million 
of shortstop Jay Bell’s $4.8 million sal- 
ary with Kansas City. When the Royals 
visited in mid-June, the money going to 
Bell totaled more than the combined ■ 
salaries of the Pirates' starting nine in 
each of the three games. 

Bell’s departure from Pittsburgh was 
part of a money-motivated rebuilding 
that slatted last August. The Pirate’s 
owner, Kevin McClafchy. as eager as he 
is undercapitalized, has constructed a 
fragile blueprint around his hopes that a 
championship-caliber team will bloom' 
and a retro baseball-only park will rise 
in Three Rivers' generic shadow by the 
turn of the century. 

Both remain dicey propositions, but 
the Pirates have become baseball's ir- 
resistible underdogs. And they’ve been 
a resilient team. 

One week in May, they lost their Nos. 
2, 3 and 5 hitters (Jermaine A flens- 
worth, AJ Martin and Kevin Elster) ro 
injuries. Their original cleanup hitler, 
Mark Johnson, recently was demoted to 
the minors. Yetthe Pirates’ record is 38- 
43, and they remain in contention in the 
National League Central. 

“You’ve got the biggest underdog in 
the country" here," McClatchy said. 
"People don’t like the highly paid ath- 
letes, and we don’t have that." 

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PAGE 22 



Heavyweight Teeth 


YARD, Massachusetts 
— You are probably won- 
dering how the Tyson/Holy- 
field fight played on Martha’s 
Vineyard. Mike Wallace, one 
of the island's 
wealthiest resi- 
dents, paid $50 
for a Pay TV 
boa and that’s 
where we fans 
gathered to en- 
joy the fight of 
the century. 

For $50 we XSTwaid 
not only got the 
heavyweight contest, bur also 

a warmup match between two 

female fighters who beat the 
heck out of each other. It was 
so rugged we all agreed that 
women’s boxing would soon 
be on a par with men’s and, 
someday, we would even see 
a female beat a man for the 
world's heavyweight cham- 

match. Micky Clippanl 
sounded as if she was onto 
something when she de- 
clared, “I think that Tyson is 
going to win.” 

•"Why is that?” Bill Watts 

“Because he has nice 

Micky just smiled and said, 
“The man who wins always 
has the best dentist ’’ 

After waiting forever, the 
contestants showed up in die 
ring. They both appeared to 
be in top form, although Wal- 
lace claimed he observed 
Tyson licking his lips as he 
stared at Holyfield 's ear. 

Well. I won’t go into detail 
about what happened during 
the fight because most people 
already know more than they 
want to know. 

Everybody saw the famous 
bite, but Wallace was the 
most indignant. “I didn't pay 
$50 to see one grown-up man 
bite another grown-up man 
on the ear.” 

As we sat around the set 
killi ng time until 1 1 :45, we 
discussed the possible out- 
come of the Tyson/Holyfield 


Endangered Species: 
A Tourist 'Warning 

Aw nee Frjiiee-Prvsse 

LONDON — An ele- 
phant’s foot umbrella stand 
and tortoiseshell jewelry 
went on show at London's 
Natural History Museum 
Wednesday to warn tourists 
of the continuing threat to the 
world's endangered species. 

The exhibition of items 
seized by British customs of- 
ficers ai ports and airports 
around the country is aimed at 
alerting travelers that their hol- 
iday purchases may be illegal 
and could help push already 
endangered species closer to 
the brink of extinction. 

While we watched the 
mayhem after the fight, we 
talked about why Tyson did 
what he did. 

Watts's theory was that 
Tyson had lost a lot of weight 
for this fight and in the third 
round he just got hungry. 

J.P. Paynter wasn’t buying 

“Everyone knows that 
Tyson is a vegetarian. My 
guess is that Tyson was trying 
to talk to Holyfield about how 
to invest the $60 million they 
were going to get- He got so 
excited that he forget where 
he was." 

Micky wondered aloud if 
Holyfield stuck his ear in 
Tyson's mouth to make him 
look bad. 

It was boxing’s greatest 
night and one we'll tell our 
children and grandchildren 
about, if they give us $50. 

Robert Mitchum: The Man Was Cool Always 

By Stephen Hunter 

VAahin^ton Past Service 

W ashington — jimmy 

Stewart was earnest John 
Wayne was heroic. Jimmy Cagney 
was feisty. Gary Cooper was dig- 
nified. Cary Grant was suave. 
Henry Fonda was laconic. Burt 
Lancaster was energetic. 

But Robert Mitchum was cool. 
It’s true the others were cool 
sometimes. But Robert Mitchum 
was cool always. He was a jazz riff, 
a late night bourbon, a pack of 
unfiltered cigarettes, a trench coat 
with the collar upturned, a fedora 
with the brim down turned, strength 
without narcissism or vanity. 
Wherever he was, it was always 
drizzling, it was always 3 A.M. in 
the neon night, and he was always 
as imperturbable as a force of 

The hulking star with the ouce- 
beautiful, later battered face, the 
butt hanging at an insolent angle 
from his passive lips, the smoke 
getting in but not remotely dis- 
turbing those deadpan, flesh- 
sheathed eyes, died in his sleep 
Tuesday at age 79 at his home in 
Santa Barbara, California, of com- 
plications from emphysema and 
lung cancer. No man ever looked 
better smoking, even if it killed him 
in the end, and a subversive might 
argue: That was cool, too. It cer- 
tainly seemed to reflect his un- 
stated motto, which was “I don’t 
give a [expletive].” 

He was of the American school, 
a minimalis t who knew the power 
of the muted gesture, the canted 
glance, the pause, the casual in- 
flection. More, like most great 
stars, he understood his Emi ts and 
the vibrations of his persona. With- 
in that persona, he could work mir- 
acles of both good and eviL 
Whoever has seen the nightmare- 
clear “The Night of the Hunter” 
will never forget his mythically 
slithery lizard of evil. Hairy Powell, 
whose full psychosis was deployed 
against two children. In die original 
(and far superior! “Cape Fear,” his 
mad Max Cady radiates with rage. 

with a feral creature’s cunning and 
hardiness, particularly in contrast to 
Gregory Peck’s square-rigged, pi- 
ous rectitude. 

But he could also play straight- 
ahead heroics and make you believe 
them. As Brigadier General Nor- 
man Cota, a hero of the Normandy 
beachhead, in Darryl F. Zanuck’s 
“The Longest Day,” he etched a 
brief, vivid porteit of aprofesskml 
militaiy man displaying the highest 
standards of combat leadership 
amid the profusion of teen idols that 
turned that film into the long kitsch 
goodbye. Even as late as 1982 he 
could bring forth convincing World 
War n-geoeratian heroics to anchor 
the otherwise unwieldy “The 
Winds of War” and “War and Re- 
membrance” on ABC. 

That is appropriate, for be first 
achieved stardom in 1945. after a 
dismal apprenticeship in cheapie 
westerns, in “The Story of GX 
Joe.” based on the writings of 
Emie Pyle, ft was a late warpicture, 
far removed from the patriotic gore 
of earlier battle movies, and Mitch- 
um’s tired, decent Lieutenant 
Walker was a more approachable 
hero than the leaders played by the 
other icon of World war n movies, 
John Wayne. 

But as naturally as heroics came 
to him, Mitchum was at his best 
playing morally ambiguous figures 
of great strength and charisma but 
subtly flawed, haunted by a mys- 
terious past or a dangerous future. 
His key early film was the shim- 
mering nob “Out of the Past,” but 
that was only one of the noirs be 
made during that classic period of 
American cinema in the exhausted 
wake of the war. 

His presence also lit up “Cross- 
fire,” “The Big Steal.” “Where 
Danger Lives,” “His Kind of 
Woman” and “Macao.” These 
films, with their existential dread 
and their sense of nihilism lurking 
behind the typically Hailing night- 
city photography, really estab- 
lished his sleepy-eyed authority. 

He had a great, broad face, a 
forehead like the polar icecap, a 
good crop of wavy hair, cheekbones 

honor, not shame. Of the eat 
ence, be said it w arli ke 1 
Springs, without the riffraff.” 

■ Born in 1917 . in Brw*~ 
Connecticut, a high school 
at 14. he was by 1 940 on the fine at 
Lockheed, married and iu&anp; 
seemingly locked into a blue-collar 
life. But he drifted into the Long 
Beach Theatre, first as* stagehand, 
then as an actor. By 1943 fee was in 
Hopalong Cassidy films — -bis&sr 
break reportedly came wfcea -be 
could ride a horse that had lolled 
the last actor who tried. By 1945 he 
was a star, and by 194S, Holly- 
wood's Bad Boy of the marijuana 


That naughty reputation was 
amplified in die early ’50s at' the. 
Cannes film festival, where a fe- 
male companion went topless with 
him in front of photographers. , 
After the mid- '50s he moved to 

big-budget roles in A-pictures like 
“Heaven Knows, Mr. Allison,” 


Mitchum in 1962 in the original “Cape Fear. 

like bed knobs and a piercing chin. 
But what unified it and made it 
unforgettable to men and irresistible 
to women were the eyes. In his case, 
the eyes truly had it. He ascribed the 
way his lids hung low, halving his 
orbs and generating that implacably 
calm look, to a boxing injury that 
caused astigmatism in both eyes. 
And also to chronic insomnia; you 
had the idea that if he ever got a good 
night’s sleep, he was washed up. 

But clearly he was never one for 

a good night’s sleep. Typical also of 
his generation of stars, his was an 
uneducated, hard-knocks, wander- 
ing kind of background. A vagrant 
youth, he spent seven days on a 
Georgia chain gang at 16. and his 
troubles with authority were a per- 
petual problem through ou t his early 
career, until the culture somewhat 
reversed itself and things like his 50 
days in a prison work camp in late 
1948 for marijuana possession 
could be looked upon as a badge of 

which he played a Marine corporal 
isolated on an island in the P acific 
with a nun (Deborah Kerr) and her 
child charges; “The Enemy Be- 
low,” a heroic commanding officer 
again, and even the comedy “Two 
for the Seasaw,” but be never really 
changed. Always that big face, that 
sleepy authority, the s pring in the 
heavy body. As late as 1977 he was 
phying Philip Marlowe in a remake 
of “The Big Sleep,” in the same 
trench coat and rumpled fedora, 
and was just as convincing. 

By that time the face looked like 
a Greek shield after a long day’s 
work at Marathon, and the body 
moved slowly, filled with pain and 
possibly even a tinge of regret Bur 
he kept on moving. 

A final story: A colleague reports 
that in 1965 the big guy landed at 
Chu Lai, an airfield in Vietnam 
occupied by American Marines. 
There, on that hot day in that little 
green hell, be would not waste time 
on officers but gave himself entirely 
to die enlisted men, both Mr. Al- 
lison and Bob Mitchum to the last 

And, to die last, probably erven 
until Tuesday in ms sleep, very, 
very cooL 


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T HE author Jerry Oppenbeiraer says he 
had no intention of mulching his garden by 
shredding up Martha Stewart “1 had no ax to 
grind with her,” said the author, who has writ- 
ten unflattering biographies of Ethel Kennedy, 
Rode Hudson and Barbara Walters. “I asked 
for her cooperation and for some time with her. 
Igot no response one way or anexher.” Butwhal 
a response he got from about 400 acquaintances 
and former associates of Stewart. Those folks 
really threw the mud, which he serves up in his 
biography, “Just Desserts.” According to Op- 
pecheimer, the dorainatrix of domesticity may 
be gracious on camera, but behind the scenes 
Stewart is a shrew who destroyed her marriage 
and her relationship with her only child with her 
unyielding demands for perfection. Stewart has 
remained tight-lipped throughout the assault 
but her fens, Oppenheimer says, are rabid. 
“People have called up to talk shows and said 
the book should be burned,” the author says. 
“I’ve refused to do a book signing. It would be 
too frightening.” 

into Japan, saying the package was supposed 
to contain medicine: “I’m not guilty. It's just 
a mistake," Danko told the Chiba District 
Court He said he had asked his wife by phone 
to send some “medication.” Danko said he 
thought she would understand he meant the 
drug codeine, for which he has a prescription. 
Prosecutors said that Danko, who gained fame 
as bassist and vocalist for The Band, had his 
wife send a parcel containing 1 .25 grams ( .04 

■O unce ) femin fin a f)io frl and that . 

Fedex officials notified the police after de- 
tecting heroin in the parcel at customs at 
Tokyo’s international airport Danko admit- 
ted that he had used heroin off and on in the 
past to help suppress persistent pain caused by 
a serious automobile accident in 1968. He also 
admitted to snorting heroin just 20 minutes 
after his flight to Japan took off from New 
York. Prosecutors are seeking a prison sen- 
tence of two and a half years. 

will join Charles Chaplin, Raoul Walsh, 
Cecil B. De Mille, George Stevens, Mervyn 
Le Roy, Gene Kelly and Steven Spielberg. 



5cai Dcoipvy/Tbe Aamulcil Fma 

GLAMOUR AND ART — The French actress and 


model Carole Bouquet arriving at tbe Tate Gallery in 
London for the museum's centennial gala dinner. 

Rock-and-RoU Hall of Famer Rick Danko 
pleaded not guilty Wednesday to charges that 
be colluded with his wife to smuggle heroin 

Robert Zemeckis, tbe Oscar-winning di- 
rector of “Forrest Gump,” will become only 
the eighth director to leave an imprint of his 
hands and feet in cement in front of Mann's 
Chinese Theater in Los Angeles. Zemeckis 

An appeals court in San Francisco ruled 
that a lawsuit filed by George Wendt and 
John Ratzenberger. who claim that robot 
barflies in airport displays look like them, can 
go to trial. Wendt and Ratzenberger, who 
.played barroom. regulars on_“Cheers,” sued 
Host International in 1993. Host, which is 
licensed to use the “Cheers” concept for its 
lounges, has the robots perched on stools in 
about a dozen airport bars. A federal judge 
dismissed the lawsuit last year and when it 
was sent back on appeal, he again saw no 
similarities — and ordered the actors to pay 
S78.000 to cover their opponents’ legal fees. 
Another appeals panel saw it differently, 
though, noting that both actors have said fans 
are remarking on the likenesses. “The usual 
comment is some variation on ‘Hey George. I 
just had a drink with you in Kansas City/ ’ ’ die 
court noted. 

Pennsylvania. John Cessna, vice president of 
Cessna Communications, said he had trouble 
selling commercials on the talk shows of 
Limbaugh and fellow conservative host G. 
Gordon Liddy. “Limbaugh and Liddy are 
controversial with some people, and not 
everyone in Bedford County is a conser- 
vative.” Cessna said. 


Mark Volpe. executive director of the De- 
troit Symphony Orchestra since 1991, has 
been named managing director of the Boston 
Symphony Orchestra. Volpe is expected to 
remain in Detroit until the orchestra’s clas- 
sical season begins in September. 

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Rush Limbaugh got booted off the air in 

After three years and 1 ,470 entries from 76 
countries, the Alexander S. Onassis Public 
Benefit Foundation has announced the win- 
ners of its first International Cultural Com- 
petition for an original play. The winners, ^ 
were selected by 60 international theater pro-" 
fessionals. including critics, directors, actons, 
and teachers. The recipient of the $250,000 
first prize is Manjula Padmanabhan of India; 
for her play "The Harvest.” 

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