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Bonn Hints at Effort 
With Its G-7 Allies 
To Prop Up the Mark 

By John Schmid 

International Herald Tribune 


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FRANKFURT — The dollar re- 
treated from a six-year high against the 
' malic late Tuesday after a German cen- 
| jtral bank official said the mark had 
■fallen too far. 

Earlier, the dollar rallied for the 
second day in a row, to its highest level 
against the Deutsche mark in nearly six 
years, despite faints by Germany's fi- 
nance minister that Benin and its Group 
of 7 partners might intervene. 

But the U.S. currency soared to a 
seven-week high against the yen after a 
Japanese official said there was no rea- 
son to expect the yen to keep rising. 

The dollar also gained sharply against 
the French franc. It was at 1.7920 
Deutsche marks late Tuesday, down 
from 1.7970 DM on Monday. Thedollar 
was at 115.450 yen, up from 113.965 
.. yen, and at 6.0475 French francs, down 
| from 6.0680 francs. 

< “We are in contact with our pa n- 
i ners,” Finance Minister Theo Waigel 
said in a terse comment that traders 
seized upon as a veiled threat that Ger- 
many ana other members of the Group 
of Seven industrial nations, including 
die United States, might take action to 
curt) the dollar's rise if it made fiuther 
dramatic gains . 

The pound fell to $1.6795 from 
$1.6877. The dollar fell to 1.4735 Swiss 
francs from 1.4775 francs. 

A Bundesbank council member, 
Franz-Christoph Zeitler, said the de- 
preciation of the Deutsche mark was 
“slightly above the corrected leveL'* 
Market News Service reported. 

“There's definitely concern by 
Bundesbank officials that the mark's 
too weak,” said Kisoo Park, senior cur- 
rency trader at BankBoston. “But it's 
going to take more than comments to 
take die dollar down' 1 for long. 

By proclaiming that Germany 

See DOLLAR, Page 7 


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-fill Prepares 
For Poland, 
Hungary and 
4 Other Lands 

Canpilat by OurSutfFnm Dhpnrkes 

• STRASBOURG — The European 
Commission agreed Tuesday that Po- 
land, the Czech Republic, Hungary, 
Slovenia and Estonia should join 
Cyprus for talks on being part of the 
European Union’s first expansion into 
* Eastern Europe. 

- The Commission’s Agenda 2000 
document, adopted without much dis- 
cussion by the EU executive, will be 
presented Wednesday to the European 
Parliament 

- The decision came as no surprise 
after the 20 commissioners settled dif- 
ferences last week over how many East 
European countries should join Cyprus 
in the EU’s most ambitious expansion 
since its creation. 

' The Agenda 2000 document sets out 
the expansion plan and die policy 
changes the EU will have to make to 
accommodate radically different coun- 
tries. 

It also says that five other applicants 
— Bulgaria, Latvia, Lithuania, Ro- 
mania and Slovakia — should be left to 
prepare to join at their own pace. 

Each will have so-called contractual 
secession partnerships. 

Cyprus had already been promised 
Membership talks next year. 

‘ The Commisrion alsrcalled for the 
EU to develop closer links with Turkey, 
extending beyond die current EU-Turk- 
ish customs union. 

In a brief statement, it stopped short 
df suggesting a start of membership 

See EUROPE, Page 7 

Newsstand Prices 

Andorra. -10.00 FF Lebanon LL 3,000 

Antilles... 1250 FF Morocco 16 Dh 

Cameroon. -1.600 CFA Qatar 10.00 Rials 

Egypt EES50 Ft&rton 12.50 FF 

Fiance 10.00 FF Saucfi Arabia -.10.00 R. 

Gabon 1100 CFA Senegal- 1.100 CFA 

My-. .2,800 Lire Spain—- — 22S FTAS 

(wry Coast. 1250 CFA Tunisia 1250 Dm 

.-j Jordan -1250 JD UAE. ;10f» Ditl 

V Kuwait- .700 FBs US. Mil. {Bxr.).-J120 



PLRi?ISHED wJtH THE NEW YORK TIMES AND THE WASHINGTON POST 


The World’s Daily Newspaper 

After Rising, 
Dollar Heeds 
Intervention 


c n'/4. n 


Paris, Wednesday, July 16, 1997 


No. 35,574 



Gunman Murders Versace in Miami Beach 

Italian Designer’s Death Stuns Fashion World 



PSrnc Vady/Aganr Fnaur-Ptcrr 

Die designer Gianni Versace at a presentation (d^his collection in Paris. 


By Suzy Menkes 

International Herald Tribune 

The Italian designer Gianni Versace, 
whose celebrity clients included Prin- 
cess Diana, Madonna and Elton John, 
was shot to death Tuesday as he re- 
turned to his home in Miami Beach 
from a nearby cafd. 

The Miami Beach police chief, 
Richard Barreto, said that die murder 
was committed by a white man in bis 
mid-20s and that he believed Mr. Ver- 
sace “was targeted.” He was shot 
twice at point-blank range in the back 
of tbe head. 

A Dade County official, Alex 
Peoeles, described the shooting as “an 
extraordinary ocurrence, not a random 
robbery.” 

The fashion world was stunned at the 
brutal end of the life of 50-year-old Mr. 
Versace, whose brash designs and flair 
for showmanship had made him a 
worldwide name in tbe 1990s. 

Diana, Princess of Wales, said in a 
statement from Kensington Palace that 
she was “devastated at the loss of a 
great and talp.nrpd man.” 

The multi milli onaire designer was 
walking home from tbe nearby News 


Cafd, where he had picked up an Italian 
newspaper around / AJML, according 
ro a waiter at the caf6. 

Witnesses described the gunman as 
a white man in his mid- 20s dressed in a 
white shin and gray shorts and wearing 
a backpack. The police said the killer, 
acting alone and using a handgun, 
walked away after the shooting. There 
was no sign of robbery. 

Tbe FBI said it was assisting local 
and state police in the investigation. 

Mr. Versace’s three-story, Spanish- 
style vacation home, one of several 
residences that he owns, is the only 
private residence on Ihe fashionable 
stretch of Ocean Drive, and is sur- 
rounded by a high walL His Renais- 
sance-style crest adorns the ornate en- 
trances to the estate. 

Reached in Rome, where Mr. Ver- 
sace’s sister, Donatella, was due to 
stage a fashion show on the Spanish 
Steps on Thursday. Karl Lagerfeld paid 
tribute to his fellow designer. 

“I am under shock. He was one of 
the flagships of Italian fashion and of 
all designers, the one I was most 
friendly with.” 

Giorgio Armani, whose discreet 
style was the antithesis of Mr. Ver- 


sace's high-voltage glamour, said from 
his Milan headquarters that be felt 
“profound grier' at the death of a 
designer who embraced life “with en- 
ergy and a tremendous desire to ac- 
complish things.” Mr. Armani also 
referred to Mr. Versace’s recent 
struggle to overcome cancer. 

G ianni Versace can best be de- 
scribed as the designer who both 
bought and caught the zeitgeisL Work- 
ing in a close family uni! with his 
extrovert sister, Donatella, and their 
elder brother, Santo, the business man- 
ager, he built up a 856 billion lire ($490 
million) annual business since be foun- 
ded his company in 1976. His hard- 
edged, bravura style, for both men and 
women, was based on the cutting skills 
be learned from his mother, a dress- 
maker. 

Although his look was originally dis- 
missed as vulgar and brash. Mr. Ver- 
sace honed it into a sleek signature style 
that incorporated flashy gilt medallions 
or prints inspired by Renaissance Italy, 
with ultramodern fabrics, such as a 
slinky metal mesh developed from 
aeronautical technology. But Mr. Ver- 

See VERSACE, Page 7 


AGENDA 


EU-Boeing Talks Hit Impasse 


New Twist Aboard Star-Crossed Mir 

If NASA Approves, American Will Make Tricky Spacewalk 


Antitrust talks between Boeing Co. 
and the European Commission stalled 
Tuesday, with no sign of a break- 
through that could avert a serious 
trade dispute between the United 
States and the European Union. The 
commission said late Tuesday that 
Boeing had failed to address its con- 
cerns regarding die proposed acqui- 
sition of McDonnell Douglas Coip. 

Clinton to Delay 
Cuba Sanctions 

The Associated Press 

WASHINGTON — President Bill 
Clinton is likely to block tough pen- 
alties against foreign companies do- 
ing business in Cuba for another six 
months, officials in his administration 
officials said Tuesday. 

They said that for the third time 
since February 1996. when Mr. Clin- 
ton signed ihe Helms-Burton bill 
passed by Congress, he would impose 
a six-mo nfh waiver on any litigation 
by Americans who want to sue for- 
eigners fra - using confiscated property 
in Cuba. 

Three administration officials, 
speaking on condition of anonymity, 
said a presidential decision on the 
Helms-Burton act was imminent 

Canada. Mexico and the European 
Union all oppose the bill, which seeks 
to mete out punishment for trading 
with Cuba. They have threatened to 
retaliate against the United States if it 
imposes any sanctions against their 
companies that do business in Cuba. 


“Boeing has so far not agreed to 
measures which would meet these 
concerns,” the EU’s executive 
agency, said. It said it would not ap- 
prove the acquisition, currently val- 
ued at $15.5 billion, "unless the le- 
gitimate competition concerns of the 
commission can be met and genuine 
choice maintained for purchasers of 
aircraft worldwide.” Page 13. 


The Dollar 


Tuaaday C 4 P.M, 
1.792 
1.6795 
115.45 
8-0475 


pfBwousdose 

1.797 . 

1.6877 

113-965 

6.068 


Tuesday dose previous dose 


By Michael R. Gordon 

New York Tima Service 

MOSCOW — Tbe head, of die Rus- 
sian Space Agency proposed Tuesday 
that the American astronaut Michael 
Foale undertake a tricky space walk to 
repair the stricken Mir space station. 

The proposal came after Russian space 
officials concluded that Vasili Tsibliyev, 
the 43-year-old Russian commander of 
Mir, was too disabled by nervousness, 
fatigue and cardiac arrh ythmia, to un- 
dertake, the strenuous repairs. 

YurilCOptev, the head of the Russian 
Space Agency, said in an interview that 
Mr. Foale wanted to cany out the mis- 
sion and that Russian officials had asked 
NASA’s permission to use him. 

If the permission is granted, Mr. 
Foale would be part of a two-man team 


that would enter a depressurized section 
of Mir in a strenuous five-hour internal 
space walk to restore lost power to the 
orbiting station. 

“We maria a decision today that we 
shall negotiate with NASA, suggesting 
that the second member of the team be the 
American astronaut,” Mr. Koptev said. 

“Taking into account that the com- 
mander is sick, they have discussed it 
aboard the space station,” Mr. Koptev 
added. “Michael expressed his desire to 
do this. The initiative was expressed by 
the crew.” 

After outlining the Russian plan to 
save Mir, the burly Russian space chief 
went to telephone his NASA counter- 
part, Daniel Goldin, as Russian and 
American aides huddled nearby. 

If tbe National Aeronautics and 
Space Administration turns down the 


Russia request, the Russians would 
have two options. They could wait a 
week or so to see if Mr. Tsibliyev re- 
gains his equilibrium, or, more likely, 
the repairs would have to be delayed 
until a new Russian and French crew 
arrives at Mir in early August, Mr. Kop- 
tev said. 

In any event, Mr. Koptev added, the 
earliest the repairs can now be under- 
taken is July 24 or July 25. 

NASA officials said later that they 
were studying the request but needed to 
be persuaded that the repairs should not 
be delayed before they would authorize 
Mr. Foale to conduct the space walk. 

The Russian proposal is die newest 
twist in the drama of the star-crossed 
Mir. In recent months, die space station 

See MIR, Page 7 


TjBsdsy O * P.M. 
925.77 


91827 


Fear Grips Cambodia as Killings Rise 


PAGE TWO 

Mob Canaries or Media Hounds? 

THE AMERICAS Page 3. 

OJ. Simpson Loses B is Home 

ASIA/PACIFIC Page 4. 

US. Doubles Aid to North Korea 

Book s Page 10. 

Crossword — Page 10. 

Opinion - Page 8-9. 

Sports Pages 22-23. 


ThelHT on-line http.vVwvvvv. iht.com 


By Seth Mydans 

New York Times Service 

PHNOM PENH— A United Nations 
official said Tuesday he had confirmed 
that at least 40 people bad been executed 
and hundreds of others arrested since 
the coup last week, and dial in at least 
some places a campaign of intimidation 
and house searches was under way. 

“We are discovering new things 
pretty quickly,” said the official, who 
spoke on tbe condition that be not be 
identified. “So we would expect die 


numbers to be substantially higher.” 
An official with the International 
Committee for the Red Cross said that 
about 450 soldiers were being held in 
custody. He said those he had been 

UJS. and Australia drop demand on 
reinstating a Cambodian. Page 4. 

permitted to visit were being “treated 
correctly. ’ ’ 

Tbe UN official said it was not yet 
clear whether the incidents he had con- 


firmed grew out of the chaos and law- 
lessness that followed the gunfire of the 
coup, which occurred July 5 and 6, or 
whether they were the start of a sys- 
tematic campaign of terror. 

But the official, along with a number 
of diplomats and human-rights workers 
here, said he feared that die coup and the 
current crackdown could spell an end to 
the democratic system and open society 
fostered here by tbe United Nations four 
years ago at the cost of $2 billion. 

See CAMBODIA, Page 7 


A Tiger at ihe Gates of Golfs Ancient Temple 


By Ian Thomsen 

Intemarional Herald Tribune 

TROON, Scotland — Tiger Woods’s first an- 
nual lap as global celebrity in the making brings 
him this week to the oldest golf tournament in foe 
world. His arrival for die 126th British Open is 


debut in New York. 

Woods has played in foe preceding two British 
Opens, finishing 22d last year, but those came 
before he announced his retirement last August from 
college, which freed him to chase money single- 
minriedly, and which has resulted in die money 
ehang in g him. He would argue that it hasn’t — an 
impossibility, that — but the repeated $40 million 
contract he signed with Nike and his six ensuing 
U.S. Tour victories surely have enlarged him. 

So greatly humbled were his elders by Woods’s 
victory in April’s U.S. Masters that they have all 
now come up with their own, ahem, “A” games, to 


use foe grade Woods applied to his performance at 
Augusta. Maybe it’s coincidence, but most of his 
top rivals — Ernie Els of South Africa, who is 
ranked No. 2 in the world. No. 3 Greg Norman of 
Australia, No. 4 Colin Momgamerie of Scotland 
and No. 6 Tom Lehman, an American — have all 
won tournaments in foe last five weeks. It seems that 
each of (hem went straight into die golfer’s gym, 
lifted the golfer’s emotional weights and pumped 
themselves up in whatever way golfers do for the 
new challenge that Woods has thrown at than. 

Woods, 21 and ranked No. 1 in the world, also 
won two weeks ago at a tournament near Chicago. 
He arrived in Europe by private jet last weekend. 

If the other players haven’t taken his threat per- 
sonally, they at least have been inspired. When 
Lehman, foe defending British Open champion, was 
asked last weekend how Woods’s revivalist ap- 
pearance might affect the behavior of foe British 
crowds, he didn’t seem to hear the question. He just 
heard foe word “Tiger” and said like a reflex, “I 


feel like when I’m playing well, Fm going to beat 
him. ” 

“I think it’s just coincidence foal we've all 
happened to win in foe last five weeks,” Mont- 
gomerie said Tuesday, unconvincingly. “It's un- 
believable,” he went on, looking as if be were 
surrounded by a roomful of skeptical cops. ‘‘Well, 
I mean. I think we're just on a more level playing 
field here. Possibly Lehman or myself or Norman 
weren’t at foe top of our games at Augusta to put 
more pressure on him. So the gap widened. Right 
now it's a much closer calL” 

Many with local knowledge believe that Woods 
may win Ms fifth major foie — be won three 
consecutive U.S. Amateur tides — without causing 
a huge sensation in Scotland, die hone of golf. “I 
really believe over die years that you have to earn 
their respect,” said Lehman of foe Scottish fans, 
before whom he won at Loch Lomond last weekend. 

See WOODS, Page 7 



Tiger Woods removing tbe tiger-head cover 
from his driver at practice Tnesday at Troon. 


With Shrewdness and Luck, Japan’s Hashimoto Delivers Results 


By Kevin Sullivan 
and Mary Jordan 

Washington Post Service — 

TOKYO — Since taking office early 
last year, Ryu taro Hashimoto has com- 
bined shrewd political moves ar home, a 
high profile abroad and a few lucky 
breaks to become Japan’s most power- 
ful and effective prime minister in a 
decade. 

Mr. Hashimoto has overseen a re- 
markable political resurrection. Behind 
his leadership, the conservative Liberal 
Democratic Party has returned to near 
total dominance over politics after its 
fall from power in 1993 abruptly ended 
nearly 40 years of one-party rule. 

“We are effectively back to the one- 


party system,” said Christopher Redl, 
an analyst in Tokyo with foe interna- 
tional investment firm ING Barings. 
“We are probably going to soon see a 
total reunification of the old LDP. They 
are back.” 

In foe period between foe Liberal 
Democrats' foil from power and their 

NEWS ANALYSIS 

resurgence under Mr. Hashimoto, foe 
United States complained that no one in 
Japan seemed to nave foe authority to 
make and keep trade or security agree- 
ments or to push deregulation foat 
would loosen the grip of Japan's im- 
mensely powerful bureaucracy. 

But since idling office, Mr. Hashi- 


moto has delivered results. He handed 
the United States a big victory during 
his meeting with President Bill Clinton 
in Tokyo last year, agreeing to extend 
and strengthen the security agreement 
under which 47,000 U.S. troops are 
stationed in Japan. 

He also has pledged to pare gov- 
ernment regulations, and while critics 
doubt his commitment to reform the 
system in which he was raised, he has 
already made significant changes in fi- 
nancial rules. Those changes have lured 
some Wall Street firms back to Tokyo 
after they had given up on Japan as 
befog unfriendly to foreign investors. 

For the first time in years, Japan has a 
prime minister who seems to want to 
lead, rather than simply reflect gov- 


ernment consensus. Certainly, Mr. Ha- 
shimoto is still often shackled by power- 
ful bureaucrats, and foe economy is not 
as strong as it once was. But foe leader of . 
the world’s second largest economy 
once again has a recognizable face. 

“He’s probably the strongest prime 
minister we’ve seen since Yasuhiro Na- 
kasooe,” who governed from 1982 to 
1987, said Robot Orr Jr., an American 
businessman and political analyst in 
Tokyo. 

Although Mr. Hashimoto cannot 
claim all foe credit for his party’s re- 
newed muscle, his aggressive style 
seems to have marie him foe right man to 
govern at a time when many Japanese 
are pessimistic about foe country's fu- 
ture and blame four years of weak co- 


alition rule for pushing it off its eco- 
nomic track. 

Tbe shift back toward one-party dom- 
inance disappointed many who had 
hoped that the last election, held in 
October under new rules, would be a 
step toward a vibrant two-party system 
similar to that of the United States. 

But in the eight mouths since then, 
Mr. Hashimoto has strengthened his 


500 seats in Parliament and once again 
control almost all major economic and 
political decisions, in local elections 
last weekend, foe party tightened its 

See JAPAN, Page 7 


Jj : _ 


1 





PAGE TWO 


PA 


E 


\ 





1 


The Gigante Trial / Chief Canary Is Best-Selling 'Author' 


Mob Meets Media, to Their Mutual Profit 


By Blaine Harden 

Washington Post Service . 


N EW YORK — “The government will 
parade before you the most infamous ar- 
ray of murdering psychopaths ever as- 
sembled in one place." 

That was the promise a defense lawyer made to 
the jury three weeks ago at the opening of the federal 
murder and racketeering trial of Vincent (Chin) 
Gigante, the alleged mob boss who has made a name 
for himself by stumbling around in Greenwich 
Village in a soiled bathrobe, mumbling and seeming 
to be out of his mind. 

The government says the bathrobe is part of an 
elaborate con by Mr. Gigante to escape respon- 
sibility for at least seven murders and a life of Mafia 
skulduggeiy. Mr. Gigante’s lawyers say their 69- 
year-old client is frail, incoherent and mentally ilL 
In any case, the government has served up some 
spectacularly unsavory characters: There was Pexer 
(Big Pete) Chiodo, confessed murderer of five, 
whose claim to fame is that his 400-plus pounds of 
blubber (more than ISO kilograms) allowed him to 
sponge up 12 bullets in an attempted mob hit, all 
without serious injury. There was Philip (Crazy 
Phil) Leonetti, confessed slayer of 10, who is 
movie-star handsome, can curl his lip in a “you 
dirty rat" sneer and who last year — in hope of a 
book contract — went on TV in a news magazine 
segment entitled "A Walk With the Devil." 

The big-name canary in this flock of Mafia 
miscreants who have sung in exchange for long- 
term mothering in the federal witness protection 
program was Salvatore (Sammy the Bull) Gravano. 
This confessed murderer of 19 is luxuriating in six- 
figure royalties from a best-selling book in which he 
boasts that "killing anw so easy to me." Mr. 
Gravano also is negotiating what he hopes will be a 
million-dollar movie deal. 

The federal government’s mob parade is sup- 
posed to be the coup de grace in a seven-year effort 
to put Mr. Gigante in prison for murder, for at- 
tempted murder, for ail manner of racketeering and 
for masterminding the affairs of the Genovese crime 
family for decades in New York City. 

But. so far, the mobsters have hardly laid a glove 
on Mr. Gigante, evidence-wise. They have offered 
no firsthand accounts of Mr. Gigante ordering 
murders or other crimes. U.S. District Judge Jack 
Weinstein has scolded the prosecution for present- 
ing a "stale case.” 

What the testifying gangsters — especially Mr. 
Gravano, with his assorted book, movie and voice- 
over promotion deals — have proven is that a career 
in murder can be a stepping stone to legitimate 
wealth and multimedia celebrity. The Gigante trial 
is a case study in how the Mafia and mass-en- 
tertainment media have melded together to such an 
extent that is difficult to tell where criminal may- 
hem stops and cutting-edge marketing begins. 

On the witness stand last week. Mr. Gravano 
personified the way in which real mob executions 
and make-believe, mass- mark et depictions of same 
have cross-fertilized each other, becoming part of 
an exceedingly profitable income scream. 

Mr. Gravano’s teU-all book, "Underboss," 
which has been on the best-seller list of The New 
York Times for 11 weeks, explains how the 1972 
film, "The Godfather," was instrumental in mold- 
ing his self-image as a young killer. 

"I left that movie stunned.” he says in the book, 
which was written by Peter Maas but consists 
primarily of long quotes from Mr. Gravano. 

"i mean, I floated out of the theater," he said. 
"That was our life. It was incredible. And not only 
the mob end, not just the mobsters and the killing 
and all that [expletive], but that wedding in die 



Mi-h*-4 S-hm-Uinp/Th, iMadJfrd Pro" 


The trial of Vincent (Chin) Gigante on murder and racketeering charges has 
brought a parade of unsavory witnesses. The prosecution says Gigante ; above 
being escorted from his home by his son, left, is feigning mental illness. 


beginning, the music and the dancing, it was us." 
The inti 


interbreeding of media and mobsterism 
circled around last week to bite both Mr. Gravano 
and the federal government. A defense lawyer used 
Mr. Gravano's best-seller to portray him as a lying 
opportunist and to undermine the government's 
case against Mr. Gigante. 

"Turn to page 188." one defense lawyer, Mi- 
chael Marinaccio, snarled in his cross-examination, 
last Friday, referring to a passage in "Underboss" 
where Mr. Gravano offers his opinion on Mr. Gi- 
gante ’s sanity or lack thereof. 


‘ ‘So why was he doing his nut act? ’ ' Mr. Gravano 
asks in the book. "Sometimes I would think he 
really was crazy and took medication when he had 
to be sane.” 

This was exactly what the defense was trying to 
tell the jury: That they shouldn't convict the aging, 
muttering, wheelchair-bound defendant because he 
is nuts. And here in black and white in a hugely 
profitable book that is soon to be a major motion 
picture was the government’s star witness saying 
that Mr. Gigante may be crazy. 

"That's one line of a chapter. You should read 
the whole paragraph," Mr. Gravano told the court, 
struggling to shed his hit-man persona for that of a 
text editor. 

Mr. Gravano's testimony was a decisive factor in 
the 1992 conviction of John Gotti, die head of the 
Gambino crime family. As Mr. Gotti’s senior 
deputy, Mr. Gravano was then the highest-ranking, 
best-informed mobster ever to turn state’s evidence. 
The government let him off with five years in prison 
and allowed him into the witness protection pro- 
gram, which he later left in favor of book and movie 
deals. He now lives in an undisclosed location. 


I 


N the Gotti trial, defense lawyers tried to 
undermine Mr. Gravano’s credibility by point- 
ing out that he was a greed-driven, amoral 


-A- punk, who could coldly plot the killing of his 
wife s brother and then comfort he 


fort her at the funeral. In 
that trial, the defense tactic failed — Mr. Gravano 
came across as odious but believable. 

That was before he went Hollywood. In testi- 
mony last week, Mr. Gravano again recited how it 
was that he "whacked out" 19 human beings over 
the past quarter-century. But he also had to explain 
the fine points of his took advance (worth at least 
$250,000) and his movie negotiations, how his 
money is being paid to an account in London and 
how he had no intention of sharing any profits with 
the families of the people he murdered. 

It was, as Judge Weinstein pointed out. the 
"seamy side of commerce" and it appeared to 
weaken Mr. Gravano’s credibility. 


In closing arguments at the Gotti trial, a federal 
prosecutor told die jury that there were two ways to 
build a case against mob members: “Catch them 
talking about their crimes on tape, or get one of them 
to come in and tell you about it. We did both." 


S O FAR, in the Gigante trial, the federal 
government has done neither. Over the 
years, Mr. Gigante appears to have been a 
very careful man. If he did talk about the 
Genovese family business, he apparently did it well 
away from hidden microphones. It was a hidden FBI 
microphone at a Gotti hangout that helped send the 
"Teflon Don" away for life withoutparole. 

A number of mobsters have testified in the Gi- 
gante trial that the Genovese family had strict rules 
about never uttering the word "Chin," a nickname 
drawn from the name Vincent. If they wanted to 
refer to the boss, they would refer only to “the 
guy." while touching their chin. As for Mr. 
Gravano and the other turncoats who have taken the 
stand against Mr. Gigante, they have not been senior 


Europe’s Tunnel Vision 
Is Focused on the Alps 


By John Tagliabue 

New jlifHt Tunes Service 


INNSBRUCK,. Austria — .Another 
giant tunnel? Europe must be kidding. . 

After the financial debacle of the 
English Channel tunnel — construction 
costs of $15 billion, double the original 
estimate, and a $14 billion mountain of 
debt — you might think it would be a 
while before anyone in Europe con- 
sidered digging a new one. 

T hink a gain. While no one is rushing 
to break ground soon, railway exec- 
utives and financial planners in Ger- 
many, Austria and Italy are studying the 
possibility of drilling a railway tunnel 



under the lofty Brenner Pass, on Aus- 
tria’s Alpine frontier with Italy- At 33 
miles (52.8 kilometers), ii would be two 


miles longer than the channel tunnel, 
and its cost is also put at $15 billion. 

Before it joined the European Union 
in 1995, Austria sought to appease its 
powerful domestic environmental 
movement by restricting truck traffic on 
the highway mat crosses the Brenner. 
As a condition of joining the bloc, 
though, Austria agreed to phase out 
those curbs. 

In return, the European Uoion agreed' 
to promote a project to lure freight from 
the roads by upgrading existing rail- 
ways across the Alps — basically, hy 
putting most of them underground. 

The motivation is clear As Europe 
strives to integrate its; economies, the 
Austrian Alps have the effrontery to lie 
smack between two of the Continent’s 
most economically dynamic regions — 
southern Germany and northeastern 
Italy. The Brenner project, in fact, is 
only one piece of a broad European plan 
to create more ways to get goods across 
the mountains — but at the same time 
protect the region's natural beauty from 
industrial encroachment. 

Switzerland, though not a European 
Union member, is under pressure to 
upgrade its Alpine routes, and in 1995 
the Swiss approved the digging of not 
just one but two railway tunnels under 


the Alps, through the Gotthard and 
tschb 


members of the Genovese family. Big Pete Chiodo 
admitted he had only met Mr. Gigante once, when 


they happened to be sharing a bench in a courtroom. 
Crazy Phil Leonetti could speak only 
hand information that Mr. Gigante had ordered die 


from second- 


deaths of six gangsters in the 1980s. 

And Mr. Gravano's slightly more incriminating 


testimony against Mr. Gigante kept getting hip^i 


up by the book. He said in court last week that 
Gigante was involved in plotting the execution of a 
mobster named John (Johnny Keys) Simone. 

As a defease lawyer pointed out. however, the 
book's account of that splendid little murder ("He 
died without pain. He died with dignity. He died 
Cosa Nostra.'*) does not make any mention of Mr. 
Gigante's involvement. 

Pressed to explain discrepancies between his 
testimony and his book. Mr. Gravano suggested that 
the jury should be able to make a distinction be- 
tween courtroom truths and money-making en- 
deavors: "This is not a book,” he said. "This is a 
trial. I’m under oath." 


Loetschberg massifs, at a total estimat- 
ed cost of almost $12 billion. In France, 
plans are afoot for a tunnel that would 
pierce the Mont Cenis massif to link 
Ranee and northwestern Italy. 

‘ ‘You have three major projects — the 
Gotthard, Mom Cenis in France and the 
Brenner — and they’re all aimed es- 
sentially to facilitate the shift of freight 
traffic from road to fail," said John 
Kramer, an American investment banker 
who advises the Austrian government. 

None of this will happen immedi- 
ately, though. If the Brenner tunnel is 


dug, construction is not likely to begin 
before 2000; - passenger and freight 
tr ains wouldnot pass through it until IQ 
years late?. And huge obstacles remain. 

For erne thing , environmental groups 
oppose the idea, arguing that a tunnel 
would drag even more industrial traffic 
into the Alps. It is far from clear that the 
backers can raise the construction 
money needed — especially consider- 
ing the European, penchant for going 
first class on such projects. 

The Brenner tunnel is to be a joint 
effort of Austria. Italy and Germany. YejA) 
Germany, burdened with the costs or 
unification, says it has little spare cash, 
and Italy says that without the Germans, 
it, too, might have second thoughts. 

StilL many experts say the Brenner 
project makes good sense. The Euro- 
pean Union’s chief transport official, 
Neil Kinnock, has made it a top priority. 
While the Brenner, the lowest of the 
Alpine passes, has been a favorite cross- 
ing point since Roman times, winner 
snows and summer mudslides often 
cause shippers long and costly delays, 
with one recent landslide closing part of 
the highway for four days. 

The Brenner is also crucial for traffic 
between Italy and Eastern Europe, 
which is expected to increase sharply in 
coming years. 0 

"Such a tunnel cannot be seen just as 
an internal Austrian affair," said 
Lorenz Fritz, general secretary of the 
Association of Austrian Industry in Vi- 
enna. "It has to be seen in a regional 
European setting." 

Mr. Kramer said, “The underlying 
social and economic rationale for the 
Brenner project, I think, is clear." 

Such a huge infrastructure project is a 
natural in a culture that puts great 
weight in building for die centuries. But 
in an age when governments across 
Europe are scrambling to cut spending 
to meet the requirements of a single 
cuirency. it will not be easy. 


,C«V 




n 


'Fl 


Dietary Pariah Wins a Reprieve 


The Associated Press 

PORTLAND, Oregon — Cutting 
back on salt has been a mantra for 
doctors for decades. Now studies in- 
dicate salt may not be quite the villain 
everyone feared. 

Two researchers at an American 
Heart Association conference in Port- 
land told medical journalists Monday 
that while almost everybody should re- 
duce salt intake, only people with high 
blood pressure need to cut back. 

. Jan Breslow, past president of the 
American Heart Association and a re- 
searcher at Rockefeller University, said 
the association was trying to decide 
whether it should issue separate rec- 
ommendations for people with high 
blood pressure and those with normal 
pressure. 


Suzanne Oparil, director of the vas 
cular biology and hypertension program 
at the University of Alabama at Birm- 
ingham, said new studies show hyper- 
■ tension is the result of complex inter- 
play of generic, environmental and 
demographic factors. 

Advising everybody to cot out salt 
■will not bring about a widespread img 
provement in health, she said. It maj 
even hurt some people. 

Instead of zeroing in on salt, Dr. 
Oparil said, the best ways to reduce 
blood pressure are through weight loss 
and a diet that is rich in fruits, vegetables 
and low-fat dairy products. 

Another study has indicated that such 
a diet may be just as effective in lower- 
ing people’s blood pressure as most 
anti-hypertensive drugs. 


TRAVEL UPDATE 


WEATHER 


New Daily for German Rail Travelers Violence Depresses Macau Tourism 


HAMBURG (Reuters) — The news magazine Der Spiegel 
and the Deutsche Bahn railroad company started a daily 
newspaper Tuesday for German rail travelers aimed at busi- 
ness readers on J a re -afternoon express trains. 

The daily will appear at 4 P.M. and will have a weekly 
circulation of 30,000. The two companies said they planned to 
double the circulation to 60,000 by October. The newspaper 
will not appear on Saturdays. 


HONG KONG (AFP) — The number of tourists visiting 
Macau has fallen amid gang violence in the Portuguese en- 
clave, the Portuguese news agency Lusa reported Tuesday. 

In the first five months of the year, 3.2 million tourists visited 
Macau, 2.4 percent fewer than ’in the same period last year. 



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Airplanes averaged 71 percent full in May compared to 
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French trade unions at Eurotunnel, the Channel Tunnel 
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London 

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23-73 

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2475 

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25/W 

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29*4 

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2&L9 

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19.SC 

9-48 pc 

Uainh 

19*6 

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2271 

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27/80 

21 70 pc 

20/79 

1*48 c 

Osu 

23/73 

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2171 

13/55 Oh 

Paris 

22/71 

14*7 c 

2475 

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Pianue 

23/73 

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2271 

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11-57 

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20-60 

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Forecast for Thursday through Saturday, as provided by AccuWeather. 



North America 

Sizzling sunshine in Hie 
South weal through Satur- 
day Pleasant weather wNI 
dominate in the Northwest 
under high pressure Hoi 
and humid weather will 
continue in the Northeast 
right Into the weekend. 
Steamy In me Southeast 
with scattered thunder* 
storm*. 


Europe 

Manly dry and cool weath- 
er ml dominate in Eastern 
Europe through Saturday, 
but an area ol ram wilt 
dampen much ol central 
Europe around Vienna 
Drier weather should move 
■mo mast Ot Spain, put 
rainy Breather ,s expected 
irom Paris norm to the 
Netherlands. Showers con- 
tinue m London 


Asia 

Drenching rams wlB contin- 
ue acioss much ot south- 
eastern China near Shang- 
hai northeastward into 
scutnem Japan Bering will 
be dry and hoi with sun- 
shine Very warm and 
steamy m Hong Kong wan 
a thundershower around 
More heavy raintall je in 
store lor south-central 
China and Tibet 


North America 


Today 

rogh imw 
of OF 


Toon mm 
High Lower 
OF OF 


Antftnija 

AHonu 

Boston 

Chicago 

Danas 

Dewar 

Duma 

Honokiu 

Hnemi 

LosAngaim 

Uteri 


iwra 1142 pc 
33»l 21/7D1 
31*8 21/701 
34*3 22/Ti a 
37*0 2373 s 
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30*6 17*2 s 
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33*1 21/70 pc 
31*8 IMo oe 
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Mrawapcte 
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Nassau 
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Orlande 
Wwart* 

Sot Fran 

Sertte 

Toronto 

Vancouver 

Washington 


Today 

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OF OF 
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30*6 18/64 1 
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33*1 24,75 pc 
33*1 23(71 i 
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2»04 17 *2 pc 

21/70 12/53 C 
XV 23731 


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33/81 21731 
43.109 SMC pc 
21-70 1155 PC 
22/71 12*3 Eti 
30*8 mice 
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34*3 2173 pc 


rthadh 


41106 iS‘71 a 41/106 24/79 l 


legend: s-sunny. pc -party ctoudy. c-doudy. sh-slumrs. t-mundfirstums r-tan. sl-sncu Hurras, 
an-snow, Fee. W-Wamer. Af maps, forecasts m dm provided by Accuwwoar, Inc. 61097 


Asia 


Today 

Tomorrow 


High 

Low W 

Htgh LowW 


OF 

OF 

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391 02 

19*6 a 

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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY,. JULY 16, 1997 


PAGE 3 


i the Al ps 


s BEL.l;'N6TH. ^ 

•• Germany I 

Ux/ 

^swrrz.OtT' 1 *ust>. 

n— * 


THE AMERICAS 


Krr 3CC ^ 


vCROAT* 

ITALY--. • 


construction is not 
^ 2000: passen^r^-V^ 
ns would not pass thnj U oi? d k 
rs later. And huge obS"** 
■or one thing, environn!,!?,^ 
the idea, arguin^^ 
old drag even more mdu * J * 

‘ the Alps. Ii is faj i rom -i^ 31 ^ 

ke* can ra i 5e 

aey needed — csrv , S’***. 

European pe^h^t' f? c 
i class on such project * 
"he Brenner tunnel ls t0 u, . 

*n of Austria. Italv and Germ “ ,: 
Tnan.v. burdened u,ih ^ 
ficanon. savshhas l,„| c ^ 
Italy says that without ihe£l' 

po might have second ,hnu? 

Uill. mam expens ^ , h T 
jec£ makes good sense Tk t 
n Lnwn's ch-ef transpon oft 
■I hannock. has made, r^, p 2- 

Jle the Brenner, the !«£*; 
nne passes, has been a tavoni ei r 
pom; since Roman tunes ir 
•w* and summer mudslide'.- 
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O.J. Simpson 
Loses House; 
$2.6 Million 
Goes to Debts 


By Todd S. Purdum 

New York Tunes Service 

LOS ANGELES — The bidding was 


I? 

' -dm 


Xt...-: '■* 


□ot exactly brisk for the property de- 
Jjf. scribed dryly as “Lot 2, Block 23, 
Brentwood Park, City of Los Angeles.’* 
But in the three minutes it took to finish 
the public auction. O.J. Simpson was 
transformed into a mere occupant of the 
mansion at 360 North Rockingham 
Ave. that he had owned for 20 years. 

The new owner Hawthorne Savings, 
the lender that held the mongage and 
instituted foreclosure proceedings 
against Mr. Simpson last spring after he 
missed more than SS6.000 in payments 
on the half-timbered, Tudor-siyle estate 
in one of the city's most desirable en- 
claves. The bank bid $2,631,259, or 
5100,000 more than Mr. Simpson owed 
on the mortgage. 

‘ ‘They figured they'll sell it and make 
more money.'* said Steve Whitlock, a 
real estate investor from Glendale who 
was the only other bidder in the auction 
Monday on the steps of a Los Angeles 
County Courthouse in suburban Nor- 
walk. He dropped out at $2.53 1 ,260. 

Representatives of the lender and 
brokers not connected to the sale said an 
eviction process could take 60 to 120 
days and be negotiated between Mr. 
Simpson and the bank. 

The 6,200 square-foot (560 square- 
meter) house comes with six bathrooms, 
a tennis couit, waterfalls, an Olympic- 
size pool and the guest house where 
Brian (Karo) Kaelin stayed, but without 
the contents, many of which must be 
sold to help satisfy the S33.5 million 
civil judgment imposed on Mr. Simpson 
after he lost a wrongful death lawsuit 
last winter. He had been acquitted of 
murder charges before being found h- 
ablefor the June 1994 stabbing deaths of 
his former wife Nicole Brown Simpson 
and her friend Ronald Goldman. 

Patrick Dobiesz, the president of TD 
Services of Santa Ana, California, which 
handled the sale for Hawthorne, opened 
the auction by bidding $ 1 ,875,000 on the 
lender's behalf. The bouse was en- 
cumbered with numerous liens, and Mr. 
Simpson had borrowed on it to help pay 
millions of dollars in legal bills, so die 
Goldman and Brown families will not 
reap any benefit from the sale. Mr. 
Dobiesz said die $100,000 of die price 
that Hawthorne paid above its own mort- 
gage would go to the next creditor in 
line, but he could not say who that was. 


as “Lot 2, B1 








. v* .. : 




(T\e 

fH&- 


TTzuuu SmflrAg-ni. Franrr-P 

A protester waving a dollar bill near the auction site in Los Angeles, 


Away From Politics 

• A Canadian twice convicted for 

painting Nazi symbols in public places 
has been arrested by federal agents and 
charged with violating his immigration 
status. The arrest came as Esyededeea 
Aesfyza, 47, entered a Washington 
courtroom for a third trial linked to such 
grafitti. (NYT) 

• At least 6,200 children die each year 

in die United States because of their 
parents' smoking, killed by such things 
as lung infecrions and bums, a study at 
the University of Wisconsin Medical 
School says. ’ (AP) 

• Temporary shutdowns at poultry 
plants in Arkansas idled hundreds of 
workers after federal inspectors found 
that dioxin-contaminated feed had been 
used by farmers producing chicken, 
eggs and catfish, the U.S. Food and 


Drug Administration stressed that the 
dioxin was not enough to endanger con- 
sumers. But the agency directed about 
350 poultry farms and animal feed man- 
ufacturers last week to stop using the 
feed, and it ordered poultry processors 
and egg producers to stop snipping af- 
fected products. (AP) 

• A 16-year-old girl in the San Fran- 
cisco suburb of Pacifica, who was de- 
scribed as an outstanding student, 
drowned herself in the Crystal Springs 
Reservoir after her parents told her to 
break up with a 20-year-old boyfriend 
she had met on the Internet. (Reuters) 

• A 16-year-old tourist on a casino 

tour in Atlantic City, New Jersey, with 
friends of her parents gave birth to a boy 
in a bus station bathroom, then left the 
infant in the toilet bowl, the authorities 
said. A bus driver found him in the water 
about 10 minutes later. The baby was in 
critical condition. (AP) 


Memo Links Huang to Lippo Funds 

Hearing Reveals He Requested Donation From Jakarta Firm 


The Associated Press 

WASHINGTON — John Huang, a 
former fund-raiser for the Democratic 
Party, asked his Indonesian employer in 
1 992 to wire money to the United States 
for a contribution to the Democratic 
National Committee, documents intro- 
duced Tuesday at a Senate hearing 
showed. 

“Please kindly wire” money to the 
Lippo Bank in Los Angeles to the at- 
tention of Mr. Huang, he asked in a 
memo dated Aug. 17, 1992, to the Lippo 
Group conglomerate in Jakarta. 

Among the things the money was to 
be used for was a “DNC Victory Con- 
tribution, $50,000,” the memo said, re- 
ferring to the Democratic National 
Committee. 

The memo was released by the Senate 
Governmental Affairs Committee as the 
panel began its second week of hearings 
into campaign-finance abuses during 
the last national election. 

The Lippo memo was tied to a check 
dated Aug. 12, 1992, from Hip Hing 
Holdings Ltd., a Lippo company in Los 
Angeles. Mr. Huang worked for Hip 
Hing at the time, but afterward left to 
work for the Commerce Department 
Later, he was hired as a fund-raiser by the 
Democratic National Committee at the 
urging of President Bill Clinton and oth- 
ers in the White House and the parly. 

The fust witness at the hearings Tues- 
day was Juliana Utomo, who worked for 
Mr. Huang at Hip Hing. She testified 
that while Hip Hing was making con- 
tributions to the national committee un- 
der Mr. Huang's direction, the company 
was losing money — and its only real- 
estate holding was an empty Los 
Angeles parking lot. 

Ms. Utomo identified financial state- 
ments that showed the company lost 
$482,000 in 1992 and $493,000 in 
1993. 

■ Senate Panel Focuses on China 

Guy Gugliona of The Washington 
Post reported earlier: 

The senators investigating campaign- 
finance abuses were pushing Tuesday to 
examine Mr. Huang's rise to promi- 
nence in the Democratic Party and his 
connection to an Indonesian business 
consortium with ties to China. 

Committee sources did not describe 
any evidence directly linking Mr. 
Huang to the Chinese government, but a 
possible Chinese plot to subvert the U.S. 
electoral process remained a conten- 
tious issue between Republicans and 
Democrats on the committee. 

At the behest of Senator Joseph 
Liebennan, Democrat of Connecticut, 
eight committee senators met for more 
than three hours Monday to resolve con- 


flicting interpretations of Chinese in- 
tentions gathered by the FBI and in- 
telligence sources. 

Intelligence officials briefed the sen- 
ators — five Democrats and three Re- 
publicans — about information ob- 
tained over two years from electronic 
intercepts. 

The briefing covered the same 
ground as intelligence presentations 
that last week led Senator Fred 


Thompson, the Tennessee Republican 
who is the committee chairman, to 
speak of a plot by Beijing to pur money 
into U.S. campaigns. 

This week, the committee sources 
said, the panel will approach the China 
question obliquely, calling as many as 
half a dozen witnesses with ties to Lippo 
and examining Lippo’s own relation- 
ship with the Chinese government busi- 
ness consortium. 


POLITICAL 


Republican Goal: 
Tax Bill by Aug. 1 

WASHINGTON — Exuding op- 
timism as they met to reconcile dif- 
ferences over taxes and Medicare, 
President Bill Clinton and congres- 
sional Republicans said Tuesday that 
they could have tax relief to the 
American people by summer's end. 

The Senate majority leader, Trent 
Lott, told Mr. Clinton he would have a 
bill to sign by Aug. 1, providing the 
biggest tax cut since the Reagan ad- 
ministration. “It's a big order. But I 
think we can do it,” said Mr. Lott, 
Republican of Mississippi. 

Even as Mr. Clinton insisted on tax 
relief for the working poor, he shelved 
all hints of a veto threat. ‘ ‘It does not 
serve the American people well if we 
explicitly and publicly turn this thing 
into a gimfight at the O.K. Corral, 1 ’ he 
said. “What we’re trying to do is 
work through our differences.” (AP) 

Senate Probe Gets 
Short Shrift on TV 

WASHINGTON — The news an- 
chors Brit Hume and Tony Snow 
were chatting as the Fox News Chan- 
nel broke away from the Senate bear- 
ings on campaign fund-raising. 

“So far, no bombshells,” Mr. 
Hume said during the second day of 
testimony Thursday. 

“It's not likely you’re going to see 
any bombshells," his colleague said. 

Bombshells or not, the Fox c hanne l, 
owned by the conservative media bar- 
on Rupert Murdoch, is die only major 
network providing live daily coverage 
of the hearings. The other potential 
venues — CNN, MSNBC, PBS and 
C-SPAN — have taken a pass. ABC, 
CBS and NBC have been covering the 
hearings on the nightly news, but 


rarely at the top of the newscasts. Last 
Thursday, the “CBS Evening News” 
carried just three sentences read by the 
anchor. Bob SchiefFer. (WP) 

A Census Shortcut 

WASHINGTON — “Limited use 
of scientific sampling” is essential to 
maltin g the 2000 census accurate, the 
Census Bureau has ruled, angering 
congressional Republicans who are 
insisting on an old-fashioned head 
count of the nation's population. 

Sampling is a widely used tech- 
nique of studying a portion of a pop- 
ulation to gain knowledge that would 
be too costly to obtain by interview- 
ing every member of the group. 

“Our plan won’t make the census 
perfect, but it will make it a lot better, ' ’ 
the director of the Census Bureau, 
Martha Farnsworth Riche, said Mon- 
day. But many Republicans remained 
highly suspicious of die technique, 
fearing it would help Democrats by 
artificially inflating the number of 
minorities and city dwellers. 

Poor people and immigrants in urb- 
an areas, as well as the rural poor and 
Native Americans are among those 
most often missed by traditional 
census methods, which involve mail- 
ings to all known households fol- 
lowed by repeat mailings and visits by 
census-takers. (WP) 

Quote/Unquote 

Angela Oh. an Asian-American at- 
torney from Los Angeles, triggering 
disagreement at the first meeting of 
President Bill Clinton’s advisory 
board on race relations Monday as she 
urged colleagues to move beyond the 
“black- white paradigm” linked to 
the history of slavery: “We can’t 
undo this part of our heritage. Where 
we can affect is where we’re going 
from here.” (WP) 


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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 




ASIAIPACIF7C 


More U.S. Grain 
For North Korea 


By R. Jeffrey Smith 

Washington Poa Service 


WASHINGTON — The 
United States is roughly doub- 
ling its previous donation of 
food aid to North Korea’s 
famished populace by send- 
ing an estimated 100,000 tons 
of grain worth $27 million to 
children and the elderly 
through the United Nations 
World Food Program and 


various independent groups. 
The administration’s de- 


cision comes three weeks be- 
fore a crucial meeting in New 
York of North Korean, South 
Korean, Chinese and U.S. of- 
ficials to decide the tuning, 
location and agenda for future 
negotiations on a permanent 
peace treaty ending the 1950- 
53 Korean War. 

North Korea has frequently 
linked the negotiation to the 
provision of additional food 
aid. American officials 
denied Monday any connec- 
tion between the aid and 
forthcoming talks. But 
privately, officials have said 
that Washington’s past assist- 
ance has substantially im- 
proved the political climate 
for the negotiations. In Feb- 
ruary, Washington donated 
$25 million to the UN pro- 
gram for North Korea. 

[The North Korean Red 
Cross agreed Tuesday to hold 
talks undi its South Korean 


counterpart for new ship- 
itsoffoo 


ments of food aid, but insisted 
that the meeting be held July 
23 in Beijing, a South Korean 
Red Cross spokesman said, 
Reuters reported from Seoul. 
The southern organization 
had called for talks on July22 
the Korean Peninsula. The 


on 


Red Gross is the only legal 
channel for private aid from 
South Korea to the Nath.] 

The new U.S. donation 
amounts to slightly more than 
half the $45.6 million sought 
by the World Food Program 
in its most recent appeal for 
assistance, issued July 9. 

In making that appeal, the 
program’s director, Catherine 
Bertini, specifically called at- 
tention to the worsening 
plight of children in a famine 
brought on by two years of 
flooding that destroyed many 
crops and by a highly inef- 
ficient agricultural system. 

She said members of the 
program's 15-person staff 
in North Korea “estimated 
that 50 to SO percent of the 
children they have seen in 
nurseries are underweight and 
markedly smaller than they 
should be far their age.” 

‘ ‘They are literally wasting 
away,” she said. 

A shortage of resources has 
kept hospitals from treating 
the children unless they have a 
famine-related illness, such as 
diarrhea or pneumonia. Hie 
program is seeking to more 
than double the food rations it 
provides to 2.6 million chil- 
dren age 6 or younger, to com- 
pensate for a reduction in the 
rations supplied by the Com- 
munist government, and to in- 
crease its monitoring staff by 
10. It would also provide ad- 
ditional rations to an estimat- 
ed 1 million hospital patients. 

Much of the new assistance 
will be in com, which is re- 
garded in North Korea 
primarily as an animal teed 
and is unlikely to be skimmed 
off by elites there, according 
to independent experts. 




> 








Eraad RoqlRfloied 


ISLAMIC PROTEST — A Bangladeshi policemen striking a man in Dhaka during a daylong general 
strike on Tuesday to denounce an artist’s cartoon in Israel depicting the Prophet Mohammed as a pig. 


ASEAN Weakened on Phnom Penh 


By Michael Richardson 

International Herald Tribune 


SINGAPORE — Just as 
ASEAN envoys prepared to 
start a sensitive mediation ef- 
fort to end the Cambodian 
crisis, the United States and 
Australia have dropped de- 
mands that the country's ous- 
ted co-prime minister be re- 


ins 


constitutional monarch. 

The three ministers — 
from Indonesia, (he Philip- 
pines and Thailand — then 
plan to meet Mr. Hun Sen and 
Prince Ranariddh to try to 
broker a settlement 

ASEAN decided at a spe- 
cial meeting last Thursday to 
delay Cambodia's scheduled 
membership in die regional 
alliance because of “the un- 


BRIEFLY 


China Warns U.S. Over Visa 


BEIJING — China urged the United States on Tuesday 
to reject a transit visa request from President Lee Teng- 
hui of Taiwan, warning that issuing the visa could se- 
riously damage ties between Beijing and Washington. 

A Chinese Foreign Ministry spokesman said granting 
Mr. Lee a visa would encourage advocates of the in- 
dependence of Taiwan. (AFP) 


Burmese Issue Protest Letters 


BANGKOK — Exiled Burmese dissidents released 
protest letters Tuesday that were written by the chairman 
of Daw Aung San Son Syi's democracy party, protesting 
abuses by the Burmese regime and c alling for reforms. 

The 33 letters, published in “Letters to a Dictator,” 
were written by U Aung Shwe, chairman of the National 
League for Democracy. (Reuters) 


Japan to Monitor China Army 


TOKYO — Japan expressed concern Tuesday about 
China's military build-up, and said it would closely 
monitor the modernization of the Chinese Army. 

The Japanese Defense Agency’s annual polic 
also expressed concern about a build-up of Scud i 
Norm Korea. 


m 


(AFP) 


More Fighting in Philippines 


COTABATO, Philippines — Philippine troops and 
Muslim rebels exchanged mortar fire Tuesday despite the 
extension of a unilateral truce by the army, officials 
said. 

Meanwhile, President Fidel Ramos told the military to 
support reopening peace talks with the rebels. (AFP) 


For the Record 


Prime Minister Inder Kumar Gujral of India denied 
Tuesday that his minority coalition was under any threat 
because one of its partners was polling out. (AFP) 


A key concern of the As- 
sociation of South East Asian 
Nations is that the U.S. and 
Australian shift has 
weakened its hand. From the 
U.S. and Australian view- 
point, however, the move 
may be more of an effort to 
distance itself from the 
Khmer Rouge than an em- 
brace of Hun Sen, the new 
Cambodian strongman. 

“If the Americans and 
Australians are now hitching 
their wagons to Hun Sen,” an 
ASEAN official complained 
Tuesday, “it means they want 
to close an eye to how the 
recent changes in Cambodia 
were brought about by force. 
Certainly, Hun Sen’s position 
will be strengthened as a re- 
sult” 

The official also criticized 
Canberra ’sand Washington’s 
decision not to consult with 
ASEAN. 

Mr. Hun Sen, Cambodia's 
second prime minister, ousted 
his political rival, Prince 
Norodom Ranariddh, the first 
prime minister, in a bloody 
coup this month. The action 
finally shattered the uneasy 
coalition government that 
was formed after elections in 
1993, an election that had 
kindled hopes that years of 
fighting ana destruction were 
at an end. 

On Thursday, three foreign 
ministers from ASEAN will 
meet in Beijing wirh King 
Norodom Sihanouk of Cam- 
bodia to seek a solution to the 
crisis, an Indonesian Foreign 
Ministry spokesman said 
Tuesday. 

Although elderly and til. 
the king remains influential in 
Cambodian politics as the 


NEWS ANALYSIS 


fortunate circumstances that 
have resulted from the use of 
force.” 

The group also decided to 
promote a negotiated solution 
that would revive Cambod- 
ia’s coalition government be- 
fore new elections in May. 

But in a move that clearly 
narrowed the options of the 
ASEAN envoys, Nicholas 
Bums, the U.S. State Depart- 
ment spokesman, said Mon- 
day that Washington felt it 
was no longer realistic to ex- 
pect Prince Ranariddh to be 
reinstated as co-prime min- 
ister because Mr. Hun Sen 
had achieved “a major mil- 
itary victory” overthe prince. 


who could not now return to 
Cambodia safely. 

“You have to separate the 
situation into what one hopes 
will happen — which is res- 
toration of the government — 
versus what one expects to 
happen now,” Mr. Bums 
said 

The Australian foreign min- 
ister, Alexander Downer, also 
dropped his government's de- 
mand that Prince Ranariddh be 
returned to power. 

"This weakens ASEAN’s 
negotiating band, ' ’ said Jnsuf 
Wanandi, r.hairman of the su- 
pervisory board of Indone- 
sia's Center for Strategic and 
International Studies. “It will 
only give Hun Sen more am- 
munition to stand firm.” 

ASEAN officials said that 
the United Stases and Aus- 
tralia were concerned that in 
his power struggle with Mr. 
Hon Sen, (he prince had 
sought to get political support 
from elements of the Khmer 
Rouge, whose brutal rule 
from 1975 to 1979 killed more 
than a million Cambodians. 

“The Khmer Rouge are 
anathema to the Americans 
and Australians,” one official 


said “Dealing with Hun Sen 
to them is the lesser of two 
evils.” 

A former Khmer Rouge 
guerrilla who broke with their 
leader, Pol Pot, and fled to 
Vietnam in the early 1970s, 
Mr. Hun Sen became foreign 
minister and prime minister 
of the government installed in 
Phnom Penh ' after a Viet- 
namese invasion in 1978 
drove the Khmer Rouge from 
power. 

Vietnam withdrew the last 
of its forces from Cambodia 
in 1989, paving the way for a 
peace settlement and the UN - 
supervised elections in 1993. 

Prince Ranariddh led his 
royalist party, known by the 
acronym Funcinpec, to a nar- 
row victory in the vote, re- 
luctantly agreeing to a coali- 
tion with Mr. Hun Sen, who 
objected to the results and 
threatened an aimed revolt. 

Although the United States 
and Australia have dropped 
their demand that Prince 
Ranariddh be returned to 
power, they want Funcinpec 
to be included in Cambodia’s 
government before the May 
election. 


QmedUbfOnrSnfl^aspackii 

HONG KONG — Hong 
Kong’s new Provisional Leg- 
islature dealt a mild rebuff 
Tuesday to Tting Chee-hwa, 
the territory’s -leader; during 
debate over labor laws passed 
in the final days of colonial 
rule. ' ; 

.. The legislature, appointed 
by China and derided by crib* 
ics as a rubber-stamp body, 
forced Mr. Tung to agree to 
amend a . bill on the laws, 
which ; grant labor unions 
various rights including, the 
power to bargain, collectively 
with employarson wages and 
benefits; 

Mr. Tung’s administration 
had been seeking to suspend 
five , of the laws indefinitely. 
Faced with opposition from 
members of the- new legisla- 
ture, - his arfim'TriRt r qrjn tl 
backed down, agreeing that 
the laws should only be sus- 
pended until Oct 31. The 
amended bill will be presented 
to the legislature Wednesday. 
- The decision was wel- 
comed by legislators who 
sought the change. 

“I am glad that the gov- 
ernment listened to our 
views,” said one, Selina 
Chow. “A Headline allows a 
certain period for thorough 
discussions on the impact” 

Another lawmaker, Eric 
Li, urged Mr. Tang's advisen 
to accept further concessions 
on the bilL 

“Of course we can press 
ahead with the bill,” he said, 
“but it will have to be at the 
price of further damaging the 
credibility of die Provisional 
Legislature.” 

le laws, which threaten 


tntfcnallssfre,’ 


there^acotsth- 




awicknmJ^W big ob;i 
lecture bargaining seek J? 
implement the international 
labor conventions. - ; •- . :.yi,- - ' 
“Under Article 3$ df -the ; > 
Basic Law, those rights an : 
now entrenched. Theycan’tbe i 
' taken away, there would be a ■ 
conflict. wim the Baste Law.” - 
The labortewsareanranga- j.' 
host of measures championed ..f 
by the new chief executivefe , r 
the first days ofhiN tenure titet - t 
have led to opposition from a «- 
variety of quarters. ' : ; 

The democratic and legal / 
lobbies are at loggedteads- J 
with the administration over 
its plans to deport thousands 
of children wlro arrived iDei v 
gaflyfromtiteOnnesennun- * 


.--Ain v 


Mr. Tong’s corporate sup- 
port, were passed by the 
former elected Legislative 


Council a week before Britain 
returned Hong Kong . to 
Chinese rule, bringing Hong 
Kong in line with internation- 
al labor conventions. 

Mr. Tting’s administration 
contends that the laws were 
rushed through before the My 
1 handover wi thout reasonable 
consideration of their effects. 

However, the Basic Law, 
the postcolonial miniconsti- 
tution promulgated by 
Beijing seven years before 
the handover, states that stan- 
dards set by the Geneva- 
based International Labor 


have a Hong Kong parent* 
therefore, the right of abode. 

An Immigration Depart- 
ment spokesman said that the T 
department's director, Regina 
Ip, was flying to Beijing on 
'Diesday to meet a director of ' 
China 's Public Security Min- 
istry, Xu Ganfu, who: is in ' 
chargeofentryai rdodtisanes, 
for talks on die problem. - : ‘ 
A senior Hong Kong Se- : 
curity Branch; official «id 
that Ms. Ip would ask C hina 
to raise a quota for mainland 
child immigrants; info. W on g 
to 90 a day, from 66, to 1 
up the process. . 

Environmental groups, 
meanwhile, have attacked J 
plans by Mr. Tung to freeze ' 
legislation that seeks to pro- 
tect Hong Kong’s, shrinking 1 
Victoria Harbor from de- 
velopers and land reclama- . 
don. 


••J.- 


z>: ■ 


.-I 1 '- 


1 inner/. 


I?/- 


May Ng, director of the lo- 
branch of 


cal branch of Friends of the 
Earth, said that Mr. Tung had 
been deaf to appeals to take 
greater care of the environ- 
meat. 

“We are disappointed wife 
him,” Ms. Ng said. “As he 
and tiie majority of his cabinet 
are from tire business sectors, 
they are more concerned 
about business-related issues. 
We’ve tirade public our dis- 
satisfaction many times. But 
so far, nothing has been 
done.” (AFP, Reuters) 


Contacts and Daring: Primer in Cambodia Politics 


By Sonni Efron 
Los Angeles Times Service 


NEUK LOEUNG, Cam- 
bodia — Um Luonn, refusing 
to be intimidated by repres- 
sion or custom, is demanding 
his job back. 

Three days after Second 
Prime Minister Hun Sen 
seized power in Cambodia, 
Mr. Um Luonn, the ferry mas- 
ter of Neuk Loeung, a vital 
crossing point over the 
Mekong River, was 
summoned to the capital and 
fired. 

Mr. Um Luonn was in- 
formed that he was being re- 
placed by his predecessor, a 
man who spent time in prison 
on charges that he had helped 


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smuggle over the river to Vi- 
etnam 360 Toyota Land 
Cruisers stolen from the 
United Nations and other or- 
ganizations. 

“They want to steal my 
job,” the feny master said. "I 
ara very angry. Why did they 
make a coup d'etat in Neuk 
Loeung?” 

No doubt Mr. Um Luonn 's 
chief offense was his long- 
time membership in Funcin- 
pec, the royalist party led by 
First Prime Minister Noro- 
dom Ranariddh,, who was 
ousted last week by Mr. Hun 
Sen. The Western-trained 
mechanical engineer said his 
failure to pay the customary 
financial homage to key of- 
ficials in Mr. Hun Sen’s Cam- 
bodia People's Party also 
contributed to his demise. 

“For Cambodian people, 
to respect the high boss you 
have to give big presents,” 
Mr. Um Luonn explained. 
“Since 1 did not do it, they 
said, ‘You are a Funcinpec 
man.’ I am not a Funcinpec 
man. I helped everybody to 
cross the river.” 

In an act of defiance un- 
thinkable to the many Cam- 
bodians intimidated by the 
bloody crackdown, Mr. Um 


Luonn has refused to accept 
his dismissal. 

His courage, fortified by 
his Dutch passport and as- 
surances from Dutch diplo- 
mats that they would help J 


rich, im- 


‘Hun Sen is a real 
professional in 
politics, despite his 
brutal side/ 


leave the country if neces- 
sary, Mr. Um Luonn enlisted 
the support of a local member 
of Parliament and wrote a let- 
ter to Mr. Hun Sen requesting 
reinstatement. 

It just might happen. 

An aide to Mr. Hun Sen 
showed Mr. Um Luonn a let- 
ter signed by the second 
prime minister asking the 


Ministry of Transport, which 
ry, to let the ferry 


runs the ferry, 
master keep his job. On Mon- 
day, Mr. Um Luonn was 
awaiting word from the min- 
istry on his fate. 

The ferry master's tale is a 
primer in Cambodia's gritty 
patronage politics. This coun- 
try is brutal to the powerless: 
Connections often determine 


whether 
prisoned or 1 
But Mr. Um Luonn ’s story 
also illustrates the mastery 
that Mr. Hun Sen has over the 
political apparatus, which 
was built to run his Viet- 
namese-backed Communist 
government in the 1980s. This 
political machine allowed 
Hun Sen to fight back after 
being defeated in the 1993 
UN-sponsored election and 
then wrest power from Prince 
Ranariddh during their trou- 
bled coalition government. 

“Hun Sen is a real pro- 
fessional in politics, despite 
his brutal side," said Raoul 
Jennar, a longtime Cambodia 
watcher. “Ranariddh is like a 
tourist in politics. He spends 
an hour or two in his office 
after a reception and before 
going to play golf.” 

Both men have been ac- 
cused of presiding over a gov- 
ernment riddled with corrup- 
tion. The corruption extends 
from the senior officials who 
are allowing Cambodia's tim- 
ber to be sold at a fraction of 
the world price in exchange 
for a cut of the profits, to a 
judicial system — controlled 
by Mr. Hun Sen's Cambodia 
People's — that fails to con- - 


vict c riminals with 
rons, all the way down to 
Um Luonn ’s feny stop. 

Presiding over the ferries 
that ply the muddy Mekong is 
a lucrative job. The Neuk 
Loeung ferries are the only 
way for traffic from Phnom 
Penh to cross the river and 
continue along' vital Highway 
1 to Vietnam. 

But a law allows the ferries 
to ran only between 6 AM. 
and 6 PM — creating a huge 
incentive for bribingieny of- 
ficials to offer nighttime 
transport to travelers in a 


F 

L- 


■ 


hurry or to take illicit shgj 


meats like the stolen 
Land Cruisers. 

Rumors that Mr. Um 
Luonn’s predecessor, Pbat 
Sareth, was profiting hand- 
somely from such transactions 
were given credence by the 
discovery of one of the Land 
Cruisers in his backyard. 


Mr. Phat Sareth was jailed, 
and then 


freed within a year 
named deputy director of 

g ubhc works and transport in 
vay Rieng province, a Pub- 
lic Works Ministry source 
confirmed. Feny workers 
said Mr. Phar Sareth was vis- 
iting Sv&y Rieng on Mon- 
day. 


For investment information 

Read THE MONEY REPORT 

every Saturday in the IHT. 

licralbS^ribunc. 


TIIE SORIjrS DAJUf NEWSWEB 























INTERNATIONAL HERALD TRIBUNE, WEDNESDAY'. JULY 16. 199 


EUROPE 


U.S. Puts Bosnian Serbs on Warning 



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PASS THE CHOCOLATE. COMRADE — Foreign Minister Yevgeni Primakov of Russia, center, and his 
German counterpart Klaus Kiny, right, testing chocolate paste at the opening ceremony of a chocolate 
factory that will produce Aipen Gold brand candy in Pokrov, in the Vladimir region east of Moscow. 


<'|.1'|I>,|. < || l if.. trjfff.JB Dlspub 6.1 

WASHINGTON — President Bill 
Clinton said T uesday he was worried iha t 
Bosnian Serbs might retaliate against 
U.S.-led NATO troops, but warned "it 
would be a grave mistake to do so." 

Two recent explosions that appar- 
ently targeted international missions in 
Bosnia-Herzegovina are suspected to be 
the work of Bosnian Serbs angry about a 
roundup of war crime suspects started 
by NATO forces. 

Opening a White House meeting with 
Republican and Democratic congres- 
sional leaders. Mr. Clinton said the 
Daylon peace accords clearly stated that 
NATO troops could arrest war crimes 
suspects. 

"They have clearly not complied 
with that provision of the Dayton agree- 
ments — in terms that they have made 
no effort to help us get any of those 
people." Mr. Clinton said of the Serbs. 
"They have no call to take retaliatory 
action and it would be a grave mistake to 
do so." He did not elaborate. 

Asked if he was afraid of retaliatory 
action, the president said. "I'm con- 
cerned about it. Of course I am.” 


The Senate majority leader. Trent 
Lorr. Republican of Mississippi, who 
appeared with Mr. Clinton and who had 
recently visited Bosnia, said he agreed 
that the Serbs had violated the Dayton 
peace accords that ended the war in 
Bosnia in 1995. The president nodded 

approvingly at Mr. Lou. 

NATO conducted its first raids on 
war crimes suspects last week, shooting 
and killing one suspect who fired on 
NATO forces as they tried to capture 
him and arresting several others. 

Then. Sunday night, a bomb des- 
troyed a vehicle belonging to Orga- 
nization for Security and Cooperation in 
Europe outside offices of that organi- 
zation and the United Nations mission 
in the eastern Bosnian town of Zvoraik. 
No one was injured in that explosion. 

On Tuesday, a bomb exploded out- 
side the residence of a monitor for the 
security’ organization in the northwest- 
ern town of Banja Luka. Tire blast 
caused no injuries but shattered win- 
dows of an apartment building, the se- 
curity organization's mission reported 
in Sarajevo. 

The explosion in Banja Luka was still 


under investigation, and it was unclear 
whether rhe incidents represented an 
organized campaign against the security 
organization, which is supervising post- 
war elections in Bosnia. i.AP. Reuters J 

■ New Presidency for Milosevic 

President Slobodan Milosevic of Ser- 
bia was elected president of Y ugoslavia 
on Tuesday by the federal Parliament, 
Reuters reported from Belgrade. 

Mr. Milosevic moved to the new of- 
fice because the Serbian constitution 
prevented him from seeking the Serbian 
presidency for a third rime. 

The federal presidency was mainly a 
ceremonial post under previous incum- 
bents. but Mr. Milosevic is expected to 
remain Yugoslavia's main power 
broker through his control of the So- 
cialist Party of Serbia, police and state 
bureaucracy. 

Mr. Milosevic was the only candi- 
date. and gained comfortable majorities 
in a secret ballot of both chambers of 
Parliament. A national election to re- 
place him as Serbian president wilt be 
held within two months. He will take the 
oath as federal president on July 23. 


A r , 

An Immig rffrrOfeS fl/lrf tSSPCtL 

rmlnacn... 


that he left all financial matters to his 
accountant, Desmond Trnynor. who 


With Public on Its Side 9 Spain to Target ETA Wing 


, Eric 
tvisecs 


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eiaid. 
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* uesuay to meet atW , - , — . 

China’s Public merged more towns and villages in 

istry Xu Ganlu d?* southwestern Poland and the Czech Re*, 
charge of entn andi P ubU 5' volunteers organized aid Tues- 

for talks on the mnhu day for tens of lhousands ot P^P 1 ” 
A senior Hon r whose homes were destroyed or dam- 

entity Branch offij r , , , 

that Ms. Ip would Sr Many of those people became vn- 

to raise- a rually homeless, said Joanna Mor- 

chi W immionn, ^ awska. spokeswoman for the Warsaw 
Kone EonfE? SL l ln the Czech Republic, the death ton 

speed op the vm? rosc t0 36 ‘ Uie P° Uce said six P e0 P le 
»-e re missing. MPI 

SSs“ y sir TuJj ™ 'Former Irish Leader 
KSS,r*S Apologizes for Gift 


ariarn Say Yes 


unon-. 


legislation thai seeki e : 
teci Hong Kong', ^ 
Victoria Harbor rra 
veiopers and lari ra- 
tion. 

May Ng. director ofc 
cal branch ei Friends s 
Earth, said that Mr. fe 
been deaf :o appeals: 
greater care of th; er 
mem. 

"‘We are disappoints 
him.’* Ma N? Vita » 
and the majority oihBc 
are from the businea z. 
they are mere am 
•bout business-rebus 
. We've made public k 
satisfaction many was 
so far, nothin* i&* 


done.*’ 


DUBLIN — Former Prime Miniver 
Charles Haughey apologized Tuesday 
for lying about a businessman’s £1.3 
million ($2 million) gift. 

But he insisted he was unaware of the 
donation while in office and said We had 
offered no political favors in return for 
the money. 

Testifying before a government in- 
quiry for the first time, a subdued Mr. 
Haughey read out a statement saying 


BUDAPEST — In a rare show of 
unanimity, the Hungarian Parliament 
voted Tuesday to adopt a political dec- 
laration supporting membership in 
NATO. 

All 312 deputies present in the 386- 
seat legislature voted in favor. None 
abstained. 

"With the invitation to join NATO, 
we have stepped over the threshold of a 
long and arduous process," Prime Min- 
ister Gyula Horn said. "If we fail to 
make good use of this opportunity, our 
children and grandchildren will never 
forgive us.” ( AP ) 

For the Record 

A Roman Catholic girl was shot and 
. wounded in Aghalee, Northern Ireland, 
early Tuesday, and the police said they 
knew of no motive. (Renters) 

Gunmen on a motorcycle killed an 
army captain in Piraeus. Greece, as he 
waited for a bus to return to his unit. The 
assailants were waiting in ambush/ AP) 


l 111 y.rf Fl,„r A'/lU' Cl 1 

MADRID — Interior Min- 
ister Jaime Mayor Oreja said 
Tuesday that the huge protests 
held across Spain to condemn 
the slaying of a young politi- 
cian by the armed group ETA 
had opened a new phase in the 
battle against the armed sep- 
aratist group. 

Mr. Mayor Oreja said that 
the government would do all it 
could to isolate ETA’s political 
arm. rhe Basque coalition Herri 
Batasuna. 

Close to 3 million people 
took to the streets Monday night 
in Madrid. Barcelona and other 
cities to show their anger with 
the weekend killing of Miguel 
Angel Blanco, who was kid- 
napped by ETA on Thursday. 

The marchers in Madrid 
were led by Prime Minister Jose 
Maria and all three former 
prime ministers of Spain’s 20- 
year-old democracy. Observers 
said it was ihe largest rally since 
Spaniards demonstrated against 
a failed 1981 military coup. 

Mr. Bianco, 29. who be- 
longed to Mr. Aznar's conser- 
vative Popular Party, was 


found Saturday in a wooded 
area tied up and with two bul- 
lets in his head an hour after 
ETA’s deadline for his execu- 
tion had expired. 

With public opinion against 
ETA at an all-time high, Mr. 
Mayor Oreja and Basque politi- 
cians have vowed lo make 
Herri Batasuna pay politically 
for Mr. Blanco's death. 


Speaking on national tele- 
vision. Mr. Mayor Oreja called 
for absolute ’ 'unity in isolating 
Herri Batasuna, to repudiate 
and socially reject leaders and 
members of Herri Batasuna, 
through democracy and the law 
and without using violence." 

Mr. Mayor Oreja ‘s com- 
ments came as the Popu lar Party- 
confirmed that a cirv council 


member in the Basque city of 
Renteria had received a threat 
reading. "You are next.” 

Herri Batasuna is widely 
seen as rhe public face of ETA. 
which has killed nearly SOO 
people since 1968 in its’ cam- 
paign for the creation of a in- 
dependent Basque nation in 
northern Spain. 

Representatives of Herri 


Batasuna have been elected to 
the Spanish national parliament 
as well as the Basque regional 
parliament. A leftist coalition, 
it controls about 10 percent of 
the region's tow n councils. 

After the demonstrations 
Monday, offices of Hem Bata- 
suna and bars frequented by 
ETA supporters were damaged 
by the crowds. (AP. Reuters) 


Francois Furet, French Historian, Dies 


The .Krstn iittcJ Press 

PARIS — Francois Furet. 
70. one of France's foremost 
historians, whose ground- 
breaking approach to the 
French Revolution earned him 
an international reputation, 
died Sunday in a Toulouse hos- 
pital. He had been in a coma 
since falling while playing ten- 
nis on July 8. 

Mr. Furet had been a pro- 
fessor at the University’ of 
Chicago since 1985. 

He was the first historian in 


France to challenge orthodox 
Marxist interpretations of the 
French Revolution. Instead, he 
argued thar the Revolution was 
a struggle for ideas and power, 
and the culmination of the 
highly centralized state power 
embodied by Louis XTV. 

Mr. Furet also rejected tra- 
ditional approaches to the 
study of history in favor of a 
"conceptual” approach, com- 
bining philosophy and history. 

Mr. Furet left the French 
Communist Party in the wake 


of the Hungarian uprising of 
1956. He became a household 
name in France with * 'The Past 
of an Illusion: An Essay on the 
Idea of Communism in the 20th 
Cenruty." published in 1995. 

Mr. Furet was elected to the 
Academie Francaise last year. 

Alexandra Danilova, 93, 
Celebrated Ballerina 

NEW YORK (API — Al- 
exandra Danilova. 93, an in- 
ternationally popular ballet star 
who served for years on the 


faculty- of rhe School of Amer- 
ican Ballet, died Sunday. 

Miss Danilova's performing 
career extended from the Im- 
perial Russian Ballet in what 
was then Petrograd, to its So- 
viet successor, ro Sergei 
Diaghilev's Ballets Russes of 
the 1920s and its various suc- 
cessor companies. 

She was one of a small group 
of dancers, including George 
Balanchine, who left Russia on 
a tour in 1924. They all joined 
Diaghilev and never returned. 



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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 


INTERNATIONAL 



Algiers Frees 2d Islamic Activist 


Riot police beating students Tuesday as demonstrations continued in Nairobi for the second straight day. 


Students Continue to Riot in Nairobi 


CoppUetUrrOarSi&FivmOapatha 


NAIROBI — Rioting stu- 
dents clashed with the police 
in central Nairobi for asecond 
straight day Tuesday, dam- 
aging cars and tearing down 
road signs. 

Students from Kenya Poly- 
technic University confron- 
ted riot police outside the 
High Court building where 14 
of their colleagues were due 
to appear on charges they 
were involved in the rioting 
Monday, when students 
burned cars, threw stones and 


brought traffic to a halt along 
Haile Selassie Avenue. 

They were protesting the 
deaths of two fellow students, 
among the nine people killed 
by the police during anti-gov- 
ernment rallies last week. 

The High Court building is 
three blocks from the Poly- 
technic campus, which the 
authorities ordered closed 
after Monday's riots. But 
clashes erupted again early 
Tuesday when some students 
walked out of the campus, 
stoning passing vehicles. 


Demands for constitution- 
al, legal and adminis trative 
reforms have been gathering 
strength since President 
Daniel arap Moi announced 
in April that elections would 
be held later this year. A date 
has not been set. 

Opposition politicians, 
clergy and human rights 
groups object to laws they say 
favor Mr. Moi and his ruling 
Kenya African National Un- 
ion party and want them 
scrapped before the election. 

Meanwhile, an opposition 


politician. Richard Leakey, 
warned Tuesday that the port 
and tourist center of Mom- 
basa was the next focus of an 
opposition-backed drive for 
constitutional reforms. 

“We are conscious that 
Mombasa could turn very vi- 
olent and are very conscious 
of the consequences and 
would hope to reach an un- 
derstanding with the govern- 
ment by the end of the 
month." said Mr. Leakey, a 
r enowned paleontologist 

(AP. Reuters) 


Cunp&dby Om Staff Fmm Otspartes 

ALGIERS — Algeria on 
Tuesday freed the imprisoned 
leader of a banned Muslim 
fundamentalist political 
U the second major Is- 
activist to be liberated 
in a week. 

In Europe, the leadership 
of the outlawed Islamic Sal- 
vation Front welcomed the 
release of Abassi Madam, its 
former leader, as a “positive 
act" that was “a definite and 
effective contribution to solv- 
ing the crisis and returning to 
peace and stability.” 

But the release of Mr. 
Madani came as an Algerian 
newspaper reported the 
overnight trillings of 21 vil- 
lagers, raising the number of . 
deaths attributed to Islamic ■ 
militants in the past week 
alone to more than 100. 

“It's a dramatic move in 
terms of the government re- 
lationship with the opposition 
and FIS," a diplomat said in 
Algiers, referring to the Is- 
lamic Salvation Front. 

“But it is not going to stop 
the violence. Like the bomb 
in Baraki yesterday or the 
massacres. There’s no rea- 
son to think that Madani can 


do that now. His time has 
gone by.” 

A military court ordered 
the parole of Mr. Madani a 
day after President Liamine 
Zero cal appointed a new na- 
tional police chief. 

Major ' General Benabbes 
GhezieL who is considered a 
moderate, will lead the na- 
tional military police, which 
directs anti-terrorism opera- 
tions. 

The release of Mr. Madani, 
and that of Abdelkader Hach- 
ani last Tuesday, appeared to 
signal a new approach to the 
Algerian government’s ef- 
forts to end a five-year civil 
war that has killed about 
60,000 people. 

The Algerian authorities 
have worked to gain political 
legitimacy, holding presiden- 
tial elections in 1995, then 
parliamentary elections on 
June 5 this year, even while 
continuing to repress the Is- 


lamic insurgents. 

General Zeroual has been 


under pressure from Western 
countries to open a dialogue 
with all parts of society as a 
way of achieving political 
peace. 

But the violence blamed on 


the insurgents hasl shown no 
sign of subsiding. ! 

Twenty-one villagers were 
killed in four separate attacks 
Monday in the region of 
Medea, 100 kilometers (60 
miles) south of Algie rs, the 
French-language newspaper 
. Le Matin reported Tuesday. 

One group of attackers slit 
the throats of 15 people in tire 
village of Tafraoiit, and an- 
other killed three people near 
the village of Ain Boucif. Le 
Matin said. Three others in 
the region were lolled by a 
bomb, the paper; reported, 
without giving mote, details. 

Mr. Madam's release was 
announced by the office of the 
military prosecutor, of Blida, 
50 kilometers soup of Al- 
giers. j 

Mr. Madani was sentenced 
to 12 year. s in prison in 1992 
with another front leader, Ali 
Belhadj, for calling 
strike. No reason 
for Mr. Madani's si 
role. j 

The Islamic Salvation 
Front was on the verge of win- 
ning a parliamentary (election 
runoff m 1992 when the mil- 
itary canceled the elections, 
setting off the insurgency. 



The front's statement that 
praised Mr. Madani’s release, 
faxed to news organizations 
in Paris, also called on the 
authorities to release Mr. Bel- 
hadj. 

In Algeria, the 107 parlia- 
mentary members of the op. 
'position Movement of Soci- 
ety for Peace called Mr, 
Madam’s parole “a gestareof 

appeasement’ ’ by tire govern- 
ment. 

But one analyst, the head of 
research at the London-based ■' ' 
Control Risks, Martin Stone, 
said he did not believe that 
freeing Mr. Madani would 
end the violence. 

The Islamic Salvation 
Army, he said, “is not going 
to stop fighting until theFIS is 

He added that, moreover, 
the Armed Islamic Group 
“has nothing to do with the 
FIS and it’s that group which 
is doing the urban bomb- 
ings." 

The Armed Islamic Group 
is considered the most ruth, 
less of the militant organi- 
zations, blamed for bombings 
and massacres in which hun- 
dreds have been killed. 

(AP, Reuters ) ■■ 




Movie on Aliens Riles White House 


By Elizabeth Shogren 

Los Angeles Tones Service 


Mayor of Mexico City Wins Expanded Powers 


OmpdnihvOur Duptorh a 

MEXICO CITY — Mexico City’s fust 
democratically elected mayor will get 
wider powers fra- governing North Amer- 
ica’s largest city under agreements he 
reached with President Ernesto Zedillo. 

Following their meeting Monday, the 
mayor-elect Cuauhtemoc Cardenas of 
the Democratic Revolution Party, said 
that Mr. Zedillo had given him a say in 
next year's local budget and thepower to 
choose his own law enforcement of- 
ficials, a prerogative that previously 


belonged to the federal government 

’This is a show of • onfidence that 
clearly shows the spirit in which we will 
work to solve the city's problems,' ' said 
Mr. Cardenas, who won the July 6 may- 
oral vote handily. 

Da a country where sitting presidents 
were once loath even to recognize op- 
position victories, Mr. Zedillo has con- 
gratulated opposition winners in tire may- 
oral, congressional and state elections 
and offered to collaborate with them. 

The leader of the Institutional Rev- 


olutionary Party in Mexico City stepped 
down Monday, the first major resig- 


nation since the governing party lost the 
mayor’s office and its majority in the 
lower house of Congress. 

Mr. Cardenas, who will take office in 
December, has predicted a ‘’transparent 
and constructive” transfer of power and 
said that he expected to have input into 
designing the city's 1998 budget. 

Until this year, the president hand- 
picked the mayor of Mexico City. 

(AP. Reuters) 


WASHINGTON — Holly- 
wood can use special effects 
to depict tire fictional Forrest 
Gump offering to flash a scar 
on his rear to former President 
Lyndon Johnson, but the 
White House says a movie 
studio took creative license 
too far in a new film that 
shows President Bill Clinton 
supposedly commenting on 
communications from aliens. 

Technological advances 
have made it possible to blend 
fiction and reality in surpris- 
ingly believable ways. But in 
the case of Warner Bros.’ star- 
studded movie “Contact,’' 
the White House counsel, 
Charles Ruff, argued that the 
filmmakers had overstepped 
the bounds of propriety. 



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Mr. Ruff complained in a 
letter to Robert Zemeckis, tire 
director of the movie, that he 
had used Mr. Clinton's “im- 
age and words" in a way that 
was “fundamentally unfair” 
and that used the president for 
a commercial purpose. “Con- 
tact" opened Last week and has 
grossed $20.6 million, second 
only to another movie featur- 
ing aliens, “Men in Black." 

In “Contact,** President 
Clinton is seen talking to re- 
porters in the White House 
briefing room about the im- 
portance of communications 
from aliens. In reality, Mr. 
Clinton's comments were 
about exciting findings about 
possible life-forms on Mars, 
and they were made in the 
White House rose garden. 

At another point in the 
movie, Mr. Clinton addresses 
Americans, dying to calm 
them and assure them that all 
efforts are being made to in- 
vestigate an unexplained ex- 
plosion. In reality, the pres- 
ident made the comments 
about events in Iraq. 

in another scene — with 
the help of technology — Mr. 


CZintoo is shown in the White 
House cabinet room with two 
actors. 1 

Mr. Zemeckis wds not 
available for comment! 

Steve Starkey, the produ- 
cer, said Mr. Clinton anp other 
recognizable people were used 
in the movie to lend tjpalism 
and immediacy to the mama. 

The president is the! brunt 
of endless satire on late-night 
television, including photos 
and other characterizations of 
him, and Michael McCuny, 
the White House spokesman, 
conceded Monday that such 
material was protected by the 
First Amendment ' 

Mr. Clinton’s unwilling 
role in “Contact*' was another 
matter. Mr. McCuny said; be- 
cause the president's image, 
“which is his alone to control, 
is used in a way that would 
lead a viewer to imagine that 
he had said something that he 
didn't really say." 

Bat beyond voicing objec- 
tions, White House officials 
plan no legal action to prevent 
use of the images. The point, 
they said, was to signal that 
they would not like to see 


such use of the president in 
another movie. 


■ CNN Lowers the Boom 

Stung by criticism that its 
participation in tire film “Con- 
tact” was an ethical breach. 
Cable News Network has an- 
nounced that its journalists 
will no longer participate in 
movies, The Washington Post ( \ 
reported from Los Angeles. 

CNN’s president, Tom 
Johnson, said Monday dial he 
initially thought the appear- 
ance of 13 of the network's . 
journalists in the science-fic- 
tion drama would make a 
good summertime promotion 
but had reconsidered in the 1 
wake of widespread criticism 
that it damaged the network's 
journalistic credibility. 

“I think, having now ex- 
perienced some of the con- 
cerns internally and externally, 
that we will put in a policy that 


iBOD 

rate*--: 


our journalists will not appear 


in the movies, period, 
Johnson said after a speech in 
Pasadena. “It seems to blur the 
lines in the minds of both our 
professional community and 
perhaps with others.” 


U.S. ‘Re-Enacts 9 TWA Crash 


- 


By Matthew L. Wald 

New York Times Service 


WASHINGTON — A year 
after the explosion and crash 
of TWA Flight 800 off Long 
Island, government safety in- 
vestigators flew another Boe- 
ing 747 of the same vintage, 
from the same airport, in the 
same kind of hot weather — 
and probably with the same 
mixture of explosive fumes in 
the center tank. 

But unlike the doomed 
TWA flight, this plane carried 
no passengers. Instead, it had 
a handful of researchers and 
1 30 or so sensors to measure 
exactly what happens under 
those conditions. 

The research flight, carried 
out Monday afternoon, was 
one of nine that investigators 
plan this week from John F. 
Kennedy International Air- 
port as they uy to determine 
what caused the Boeing 747 
to explode and plunge into the 
Atlantic Ocean, killing 230 
people. 

One flight will be conduc- 
ted with the same small 
amount of fuel in the center 
tanks, the same delay on the 
runway and the same flight 
path over the water near East 
Moriches, New York. 


Investigators say they are 
flying the tests under condi- 
tions not much different from 
those that passengers expe- 
rience every day. 

“We are studying typical, 
routine conditions that 
haven’t been studied before,” 
said Shelly Hazle, a spokes- 
woman for the National 
Transportation Safety Board, 
referring to temperatures, 
pressures and vibrations — 
all of which could affect the 
creation of an explosive va- 
por atmosphere. 

“Even then, you can't 
make it precise." Ms. Hazle 
said. “Obviously, we don’t 
know everything that went on 
in the cockpit. Bur what they 
know, they're going to try to 
duplicate." 

That includes, she said, 
throwing switches on the con- 
trol panels at the moment they 
were thrown on the doomed 
flight 

Investigators also conduc- 
ted a special test requested by 
the Federal Bureau of Inves- 
tigation and the Defense De- 
partment. Officials of the Na- 
tional Transportation Safety 
Board wouia not say what 
that test was. but others in- 
volved in the investigation 
said it was to measure the 


“infrared signature” of the 
airliner, to look at the Boeing 
747 the way a heat-seeking 
antiaircraft missile would see 
it. 

Investigators have' always 
assumed that such a misshe 
would home in on the exhaust 
from the engines. But some 
experts think that the plane's 
air-conditioning packs, locat- 
ed directly under the center 
fuel tank, would provide an- 
other heat-emitting target. 

The flights are an unusual 
step in an inquiry that is by far 
the most expensive in the 30- 
year history of the transpor- 
tation safety board. 

Although investigators 
know that the explosion oc- 
curred in the center fuel tank, 
they do not know what 
sparked it. 

The flights are not so much 
an effort to recreate a rare and 
dangerous condition as they 
are to recreate the eveiyday 
conditions that turned lethal 
on July 17, 1996. 

The experts also will use 
battery-powered electronic 
devices of the kind often car- 
ried by passengers, like 
laptop computers or compact- 
disc players, to see if they can 
create electromagnetic inter- 
ference. 


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BRIEFLY 


Guerrillas Shell Israelis ^ w^ c ^-, i ^ J _ leasI four u, j" red 


MARJAYOUN. Lebanon — Guerrillas 
retaliating for attacks that killed two ci- 
vilians in southern Lebanon fired Katy- 
ushas on Tuesday at Israeli-held positions 
in Lebanon, and one rocket crashed in 
northern Israel. 

There were no injuries from the rocket 
that landed in the western Galilee, the Is- 
raeli Army said. But the attack heightened 
tensions in the volatile region. Cross-border 
attacks from Lebanon on Israel have in the 
pasl provoked major Israeli retaliation. 

The guerrillas opened up in the south a 
day after Israeli-allied militiamen in an 
occupied enclave of southern Lebanon 
shelled suspected guerrilla hideouts, killing 
two civilians. \AP) 


The crash occurred near lllescas. 55 ki- 
lometers <35 miles) southwest of Madrid, a 
police spokeswoman said. (AP) 



Britain Checking Beef 


Crash Kills 9 Japanese 


MADRID — Nine Japanese tourists and 
a Spaniard were killed Tuesday when a 
minibus col tided wuh a van south of Mad- 


MOSCOW Britain's Labour govern- 
ment is examining controls pm into place to 
prevent violations of the European Union's 
ban on British beef exports. Foreign Sec- 
rctaiy Robin Cook said Tuesday. 

His statement followed the closing of two 
meat plants in Britain on Monday on sus- 
picion that they were involved in breaking 
the worldwide ban on exports of British 
. . curlier inis month the European Com- 
mission said that 1,600 ions ofbeef had 
apparently been smuggled out of Britain and 
sold re vanous countries, including Russia. 

lr Cook, who has had to field questions 
rom Russian journalists about the affair on 
boih days of his Moscow visit, said the 
government in London took the smuggling 
dNegaiions very seriously. (Refers) 


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PAGE 7 


INTERNATIONAL 


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New Royal Hubbub: Will Charles Marry Camilla? 


By Sarah Lyall 

Nt*r Kirtt Timrs Scnrt i ,• 


<s8sA 


Camilla 
tain as 


Umcrul !Vb«ui Pm. 

Parker Bowles, cast in B ti- 
the home- wrecking crone. 


LONDON — If Diana was the beau- 
tiful, misunderstood princess and 
Charles the frog-like prince in the 
world's most dysfunctional royal fairy 
tale, then Camilla Parker Bowles — 
identified as the home-wrecking “third 
person” in the marriage by the Princess 
of Wales herself — was always cast as 
the evil crone. 

Diana once cal led her a ” rottweiler. ” 
and tabloid photographs have usually 
shown Mrs. Parker Bowles, 49. at her 
worst — her hair wildly askew, her face 
contorted in demonic expressions and 
her clothes draped at strange and un- 
flattering angles. The British public ap- 
pears genuinely to loathe her. 

But Prince Charles, heir to the British 
throne, shows no signs of giving up the 
woman he described as a close friend in 
his ground-breaking, adultery-admit- 
ting television interview in 1994. Now 
that both he and Mrs. Parker Bowles 
have been divorced for what many con- 
sider a decent interval, one of the ques- 


tions consuming the nation these days 
is: Will Charles and Camilla marry? 

For the last several weeks, news- 
papers, even respectable, conservative- 
leaning ones like The Daily Telegraph, 
have been quoting unnamed “friends" 
us saying that the couple would very 
much like to marry and hopes that the 
stern British public will eventually 
sympathize. Although it is hard to deter- 
mine the accuracy of such accounts, 
they can be likened to a government’s 
planting trial balloons in newspapers to 
gauge the public's response. 

“Her friends are waging a campaign 
to portray her as a much-maligned 
woman,” said a reporter who has 
covered the royal family. “The status 
quo is becoming unacceptable, and all 
of this sudden activity is designed to 
speed the process.” 

Last week, the issue was raised on 
two television programs. The first, a 
documentary about Mrs. Parker 
Bowles, included an interview with 
Charles Benson, described as a long- 
time family friend, who clearly had 
some problems with Charles’s beha- 


vior. By failing to marry her. Mr. Ben- 
son said, the prince had "left Camilla 
our with the washing' 1 and sentenced her 
to "virtual house arrest.” 

At the same rime, a number of dis- 
tinguished public figures debated the 
question on a BBC show. “Heart of the 
Matter." Should Charles many? Should 
he abdicate? Opinion was divided. 

“A remarriage would not be ideal, 
but it would be better than an affair 
outside marriage.” said George Austin, 
the Anglican archdeacon of York. 

The Issue has taken on some urgency 
in the last few weeks, since Mrs. Parker 
Bowles was involved in a collision with 
another driver while on her way to 
dinner at Highgrove, Charles’s country 
house. Shaken but not badly hurt, Mrs. 
Parker Bowles called the prince on her 
mobile telephone, escaping with a posse 
of royal staff members. 

Mrs. Parker Bowles reportedly said 
later that she was employing anti-ter- 
rorist techniques taught to her by 
Charles's staff. But that didn't stop the 
British newspapers from gleefully re- 
lating how the other driver, Carolyn 


Melville-Smith was forced to wait in her 
overturned car, trapped in a ditch, until a 
regular ambulance came to rescue her. 

The incident drove home to the public 
just how closely connected Mrs. Parker 
Bowles is to tbeprince. who is reportedly 
giving a huge 5uth birthday party for her 
later this week. It also showed the awk- 
wardness of rhe situation. In the old days, 
there was a place for the mistress of Die 
king, and society', including the news- 
papers. conspired to keep silent about iL 
All that changed in 1936. when Edward 
VTT1 gave up the throne Instead of giving 
up Wallis Simpson, consigning himself 
to a life in exile. 

With public scrutiny trained on mem- 
bers of the royal family as surely as if 
they were Hollywood celebrities, 
Charles's every move is endlessly de- 
bated throughout British society. 
Stunned by public opinion polls that 
show Camilla at the lowest end of the 
popularity scales, the prince has prom- 
ised, royal-watchers said, that he will 
not do anything rash. 

But Mrs. Parker Bowles's biggest 
problem may be Diana herself, her 


sworn enemy and still the darling of the 
British public, with her perfect hairdo, 
trim physique and clever aptitude for 
self-promodon. 

The princess, who has intimated that 
she hopes Charles will be passed over as 
king in favor of the couple’s son. Wil- 
liam, stirred the pot a bit by announcing, 
through * ’friends, ’ ’ that Charles enjoyed 
illicit behavior too much to remarry. 

"She says Charles was always hap- 
pier when he had two women on the 
go.' ' a friend told The Daily Mail. 

But the debate rages on. One pos- 
sibility that seems to appeal to tradi- 
tionalists would be a so-called mor- 
ganatic marriage, a move that would 
require parliamentary approval, 
whereby Mrs. Parker Bowles would be 
Charles’s wife but not the queen of 
England, and in the unlikely event of 
children, they would have no claim of 
succession. 

For his part. Mr. Benson said on 
television, it did not matter what title 
she ended up with. “She could be called 
Princess Camilla, or the Duchess of ... 
of ... anywhere you like,” he said. 


DOLLAR: U.S. Currency Drops Against the Mark After Heeding Hints of Intervention 


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wanted a strong currency. Mr. Waigel 
signaled that Bonn has begun to wony 
about the strength of the dollar, which at 
one point rose above 1.80 DM on Tues- 
day. its highest level since August 
1991. 

German officials bristle at market 
speculation that their currency — long 
regarded as one of the world's strongest 
— will be replaced in 1999 by a less 
sturdy substitute, the euro, the proposed 
single European currency. 

Specifically. Germany's government 
and central bank have begun to consider 
what will happen next year when die 
European Union puts into place a set of 
irreversible exchange rates for the 
Deutsche marie and other national Euro- 
pean' denominations against the euro, 
said Stephen King, European economist 
at HSBC James Capel in London. 

If die mark's weakness persists, it 
would be locked into the currency union 
at a relatively weak exchange rate, rep- 
resenting a demeaning finale for one of 
Germany’s most treasured national sym- 
bols- and the currency that other Euro- 


pean economies traditionally rely upon 
as an “anchor” or benchmark cur- 
rency. 

/ The marie has also slumped against 
currencies other than the dollar, com- 
pounding the concerns of the Bundes- 
bank and Bonn. The British pound 
traded just below Monday's near-seven- 
year high of 3.0239 DM, also supported 
by expectations of a soft euro in 1999 
that includes economically weaker na- 
tions like Italy. The mark traded at a two- 
year low against the yen. 

Tourists from the United States and 
Britain in continental Europe do nor share 
the wony. Dollars and pounds have not 
been so strong in years, creating a boon 
for travelers to France. Austria and Bel- 
gium and other nations that maintain 
strong links to the mark and whose cur- 
rencies have weakened along with it. 
However, the dollar’s rise poses problems 
for U.S. exporters, raising the prices of 
their products in foreign markets. 

‘ ‘ We are interested in a strong 
Deutsche marie.” Mr. Waigel declared 
during an appearance in Berlin, respond- 
ing to a question about the strength of the 
dollar and pound. "I think what's hap- 


CAMBODIA: lea, Spreads Amid Killing 


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[Sam Rainsy. leader of the unofficial 
opposition Khmer Nation Party, urged 
Cambodian soldiers on Tuesday .to 
desert to a budding resistance move- 
" meat, The Associated Press reported. "I 

- urge the Cambodian people to organize 
themselves in order to resist tyranny,” 
he said in the Thai border town of Aran- 
yapratheL] 

On Sunday, the coup leader, a former 
Communist, Hun Sen, called for the 
protection of human rights, free speech, 
a free press and a strong political op- 
} position. 

Interviewed late Tuesday by the 

- Voice of America, be expressed concern 
about the reports of killings and said he 
had ordered officials to "check into 
these reports.” 

But as people became aware of the 
' crackdown, an atmosphere of fear 
spread through the capital among Cam- 
bodians, who have sprat much of the last 
two decades under repressive rule. 

The United Nations official said many 
people had gone into hiding, including 
journalists, labor union leaders, oppo- 
sition officials and ordinary soldiers 
from the defeated royalist forces of 
Prince Norodom Ranariddh, who was 
ousted and held the title of first prime 
minister. 

Many Cambodians, remembering the 
-refugee exodus of the 1980s, said they 

• were considering fleeing, and one local 
human rights worker said die Immi- 
gration Department was working late 
into the night issuing passports. 

1 ‘I notice that somebody is following 

* me on a motorbike',” said an accountant 
who is affiliated with an opposition 
party. "I suspect it is a Communist spy. 
I know them many years. I know their 
attitude. If the country becomes Com- 
munist again, I do not want to stay. ” 

The United Nations official said be 


had two reports, including his own per- 
sonal observation, of government sol- 
diers searching houses on the pretext of 
confiscating illegal weapons. 

He said he was particularly concerned 
by a report on government radio Tues- 
day that there were 10,000 Khmer 
Rouge “outlaws” in the capital. He said 
this was a unrealistic number and could 
be intended as a pretext for widespread 
arrests of opposition figures. 

“It's the oldest trick in the book, to 
label people Khmer Rouge as an excuse 
for killings,” the official said. 

One Western diplomat said that if the 
crackdown increased, it could threaten 
international acceptance of Mr. Hun 
Sen’s government even if he proceeds 
with his plans to reopen Parliament, re- 
place Prince Ranariddh as the opposition 
leader and bold elections next May. 

The United Nations Security Council 
and some countries have demanded such 
steps. 

"The international community is 
quite consistent now,” the diplomat 
said. "They want to see signs of the re- 
establishment of democratic institu- 
tions. And all along Hun Sen has had do 
problem with this. But in light of today’s 
mformation, the reality will be quite 
different. Cambodia will be democratic 
in name only and it will have paid a 
costly price in terms of human rights.” 

The killing s listed by the United Na- 
tions official included both royalist sol- 
diers and civilians. Among them wore: 

• The secretary of state at the Interior 
Ministry, Ho Sok, who was shot in the 
head on the grounds of the ministry on 
July 7 after railing to gain sanctuary at 
the residence of me Singapore ambas- 
sador . 

• Chau Sambath, the deputy chief of 
military intelligence, along with two 
generals, Kronch Yoeum and Sam Nor- 
in . when they attempted to surrender 
July 7 to the Hun Sen troops. 



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JAPAN: Hashimoto’s Powerful Leadership 


Continued from Page 1 

.hold bn the Tokyo- Metropolitan As- 
sembly, a bellwether of its strength na- 
_tionwide. . ...... 

Capitalizing on . his. party’s resur- 
* gence, Mr. Hashimoto has pushed hard 
■ for a “Big Bang” package of financial 
reforms to loosen government reguia- ' 
(ions and make Tokyo more attractive to 
= investors. Among his- proposals are 
some that will offer consumers their first 
opportunity to invest in such high-risk 
. instruments as stock derivatives and mu- 
tual funds, giving foreign -companies 
more of a chance to compete/ 

“He gets lO^jut of 10.” said Jesper 
Roll, an analyst with the investment bank- 
ing firm J.P. Morgan & Ca “He has taken 
on, right by the horns, the most difficult 
issue — which is, how do you deregulate 
Japan’s financial institutions?” 

But a veteran political analyst, 
Minoru Morita. said that Mr. Hashimoto 
has postponed many important items, 
including dealing with the massive debt 
' of the national railroad system. 

Outside Japan, Mr. Ha&himoto has 
been a gregarious player. Last month, he 
visited the United States, the Nether- 
lands and Norway. , ... 

. Perhaps most , important,- Mr. Hasbi- 
moto has been lucky. The .lengthy hos- 



Prime Minister Hashimoto. 

tage crisis at the Japanese ambassador’s 
residence in Lima last winter ended 
without the loss of a single Japanese. 

He also has had the good fortune to 
find the political opposition in chaos. 
The main opposition New Frontier Party 
has splintered, and ihc Socialists, (hough 
still minority members of the governing 
coalition, arc generally powerless. 


pening at the moment is an overreact ion 
of the markets." 

Germany, Mr. Waigel said, adhered to 
previous resolutions of the G-7. which 
agreed in February that the dollar bad 
already gained enough since its slump in 
the spring of 1995. when it slid to a 
historic low of 1.3400 DM. 

Although international cooperation 
since February has succeeded in guiding 
the dollar lower against the Japanese 
yen, it has not halted the dollar's 10 
percent rise against the mark. 

Mr. Waigel’s remarks prompted wor- 
ries that central banks could act in con- 
cert to sell their dollar reserves on the 
open market, taking the market by sur- 
prise and driving the dollar back down. 

The Bank of Italy added to market 
jitters when it intervened in currency 
markets for the second consecutive day, 
supporting the German currency by buy- 
ing marks for lire. 

The Bundesbank declined to com- 
ment on market rumors that it had made 
inquiries in the dollar market to check 
Deutsche mark rates, which sometimes 
is a prelude to central bank interven- 
tion. 

Some investors appear to be betting 
that German policy makers secretly de- 
lighted in the mark's depreciation, even 
as they cringed in embarrassment at the 
mark's plunge. A weak mark allows 
Germany’s export-dependent economy 
to thrive as German goods are discoun- 
ted in international markets. A weak 
currency could help German control its 
record unemployment and high deficits, 
economists said. 

"It is in Germany’s economic interest 
to see the depreciation of the currency," 
said Franco is-Xavier Chauchat, 
a strategist and economist at the 
Cbeirvreux de Virien investment honse 
in Paris. 

‘ ‘What we see right now in France and 
Germany is a strong pick up in exports, 
but in the domestic economy there is 
hardly any activity. So there is no other 
alternative except for a depreciation," 
he said. 

That view won credence Tuesday 
when Bloomberg News reported that 
Hans-Juergen Koebnick, a Bundesbank 


council member, said he had no prob- 
lems with the mark's recent plunge. 

“Germany knows this is in its best 
interest," said Alison Cottrell, economist 
at PaineWebber International in London. 

■ Mixed Blessing for Americans 

Edmund L. Andrews of The New York 
Times reported earlier from Frankfurt: 

The rise of the dollar speaks volumes 
about the strength of the American econ- 
omy. which remains blessed by robust 
growth, low levels of unemployment 
and low inflation. 

But it also poses new headaches for 
American exporters, particularly the big 
three automobile manufacturers, be- 
cause it raises the prices of their products 
in foreign markets. 

None of this is quite what American 
leaders had in mind six months ago. In 
late January, the U.S. Treasury secre- 
tary. Robert Rubin, created an inter- 
national stir by signaling a significant 
change in American policy tilted against 
further appreciation of the dollar. Mr. 
Rubin, who had previously held fast to 
the position that a strong dollar was good 
fra* the United States, suddenly and ex- 
plicitly began saying that the dollar had 
been strong "for some time now.” 

That shift was quickly welcomed the 
next day by the finance ministers and 
central bankers from the G-7 countries. 

Mr. Tietmeyer announced repeatedly 
in the days and weeks chat followed that 
the dollar's "correction" had gone far 
enough and that the Deutsche mark was 
about ready to stabilize. 

Since then, however, policymakers 
have faced new shocks related to the 
introduction of the new euro currency. 

Germany, bogged down with the 
highest level of unemployment it has 
seen since World War U, is running 
budget deficits that violate its own tough 
fiscal standards. for countries that are 
allowed to join in the new European 
Monetary Union. France, meanwhile, 
elected a Socialist government that has 
been far more hostile to the strict fiscal 
requirements of the euro, and its budget 
deficit is running much higher than 
economists had expecred just a few 
months ago. 



Sid 

“"T; 

- 





RiiIicti Snfbvan/Agenir FmkT-Picv«c 

A policeman studying the blood stains where the Italian designer Gianni 
Versace was gunned down Tuesday on the steps of his Miami Beach home. 

VERSACE: Designer Is Slain in Miami 


MIR: American May Take Russian’s Place 


Continued from Page 1 

has endured a fire, the failure of its 
oxygen canisters and a leak in its cooling 
system. 

But this time the drama is poignantly 
human. Ir is not just about technology, 
but emotional stamina. It is about as- 
tronauts being asked to improvise re- 
pairs under trying conditions, much like 
the first pilots, who would climb out 
onto the wing of their aircraft. 

According to Russian officials, the 
strain was just too much for Mr. Tsib- 
liyev, who has been onboard Mir for 1 53 
days. Medical tests carried out Monday 
showed that Mr. Tsibliyev was suffering 
from cardiac arrhythmia, or an irregular 
heartbeat. 

The commander has bad a particularly 
hard time in recent weeks. Much of die 
Russian media has blamed him for caus- 
ing the June 25 collision between Mir 
and a Progress cargo craft that put a hole 
in Mir's Spektr module and resulted in a 
serious power shortage. 

Mr. Tsibliyev has also worried about 
die difficulty of performing the repairs. 
He has also experienced trouble sleeping 
and complained of overwork. 

Russians physicians talked to Mr. 
Tsibliyev on Tuesday and the cosmonaut 
indicated that he still felt poorly. The 
doctors believe that stress is a big factor. 

"The physicians lend to think the 
arrhythmia has a psychological and 
emotional character," Mr. Koptev said. 
He said that sedatives were being pre- 
scribed for Mr. Tsibliyev. 

There is no immediate threat to Mir’s 
three-man crew. The purpose of the re- 
pairs is to restore lost power so lhal Mir 


can be used for scientific work and op- 
erate as a felly functioning space station. 

By all accounts, however, the repairs 
will be demanding and potentially nsky. 
They involve opening up the damaged 
Spektr module, reconnecting power 
cables while wearing bulky space gloves 
and then reseating the module with a 
new, hermetic hatch. 

The lead role is to beperformed by 
Alexander Lazutkin, the fught engineer. 
He will enter the Spektr module and try 
to reconnect power cables. 

The second member of the team, who 
will also be wearing a space suit, will 
help in an adjacent node of the space 
station. That section of the space station 
will be sealed off from the rest of the 
space station and depressurized. 

Mr. Tsibliyev was have performed the 
supporting role in the node that Russian 
officials now want to give to Mr. Foale. 

Russians officials said that Mr. Foale 
had the sort of general training he would 
need to carry out the repairs, such as 
practicing in the underwater pool that is 
used at the Star City cosmonaut training 
center outside Moscow to simulate 
weightlessness in space. 

They also said that Mr. Foale also had 
a good working relationship with Mr. 
Lazutkin. Russian officials said he 
would need two or three days of specific 
training to prepare for the mission. 

Russian officials want to solve the 
power probirai this month. That would 
allow the crew that is to arrive next 
month to focus on repairing the Spektr 
module and repressurizing that section 
of the Mir. 

But American officials have not yet 
agreed to that schedule. 


CoDtinued from Page 1 

sace’s real innovation was in marketing. 
He was the first designer to understand 
the power of the supermodels and to 
invest hundreds of thousands of dollars 
in fashion spectaculars. 

He also forged a link between rock 
and roll and fashion by bringing what 
had been an underground connection 
under the strobe lights. Eric Clapton, 
Elton John and Sting all produced spe- 
cially recorded music for his shows, and 
the front-row lineup was as media- 
worthy as the catwalk. In the audience at 
his last show, the Atelier presentation in 
Paris last week, were Demi Moore, Gab- 
riel Byrne, Leonardo di Caprio and the 
wives of Steven Spielberg and Tom 
Hanks — all of whom he regularly 
dressed for the Oscars. 

Versace advertising campaigns also 
featured the leading photographers and 
he had even used Madonna as a model. 
Coffee table books with glossy and erot- 
ic photographs became collectors 
items. 

His mix of high and low culture was 
well-expressed in a mens-wear show in 
the Boboli Gardens in Florence last 
month, which centered on a Maurice 
Bejart ballet, but also featured a guest 
appearance bv the model Naomi Camp- 
bell. 

Although the designer had developed 
lower-priced diffusion and jeans lines, 
industry analysts were surprised at the 
seemingly bonomless wealth invested in 
more than 100 retail outlets, many of 
which were extravagant marble and mo- 
saic temples. 

Eyebrows were also raised at the exot- 
ic lifestyles of Gianni and Donatella. 
Versace residences included a New 
York town house with four import an I 
Picassos and a bed commissioned from 
the artist Julian Schnabel, as well as a 
Milan palazzo. a villa on Lake Como, 
Italy, and the Spanish-style estate in 


Miami Beach. 

Speaking at a police press briefing 
Tuesday, Mr. Peneles, the Dade County 
official, said Mr. Versace “embodied 
the energy and vibrancy of South 
Beach" and bad helped to put the run- 
down Art Deco strip on the fashion 
map. 

Personally, Mr. Versace was well- 
liked and known for his generosity and 
his belief in all-Italian family values. 

Speculation in the stunned fashion 
world centered on two possibilities: that 
his rock-star status and super-sexy clothes 
shown on fee world’s top models had 
made him the target for a madman; or that 
this was a “Gucci-style" murder, re- 
ferring to the kilting of Maurizio Gucci. 

Mr. Gucci, of the leather goods and 
fashion family, was murdered in 1 995 in 
Milan. His former wife, a high-society 

E ychic, a hotel doorman and two al- 
jed hit men were charged in February 
with what the police said was a murder 
motivated by a cutback in alimony, jeal- 
ousy and greed. 

Stories had been circulating in Italy 
that there were money troubles and fam- 
ily discord between Mr. Versace. Ms. 
Versace and Santo Versace, who was 
rumored to have demanded cutbacks on 
a fancy lifestyle and even canceled his 
siblings credit cards. 

Santo Versace is appealing a May 
conviction for bribing tax inspectors in a 
case that implicated several of Italy's 
prominent fashion designers. Gianni 
Versace was not charged. 

Speaking to the International Herald 
Tribune in Paris last week before the 
couture show. Santo Versace said that he 
was already reducing the company's le- 
gendary advertising budget, which was 
running at $50 million, or 8 percent of 
turnover. 

This was to strengthen the company 
for a public stock offering on rhe Italian. 
U.S. and Tokyo exchanges, scheduled 
for the fall of 1998. 


EUROPE: Ell Prepares Negotiations to Invite Cyprus and 5 Countries in Eastern Europe 


Continued from Page 1 

talks with Ankara. 

But it said il had identified areas for 
cooperation after a request by EU for- 
eign ministers in April. 

The document tells the East European 
applicants they have to make more eco- 
nomic efforts before they cross the 
threshold. 

The changes prescribed in the paper 
for lhe existing 15-nalion EU involve a 
new intergovernmental conference soon 


after 2000 to overhaul the EU’s de- 
cision-making procedures to prevent in- 
stitutional paralysis in a bloc with 21 
members. 

The EU’s summit meeting in Am- 
sterdam on June 16 and 17 failed to agree - 
on how to revise (he way decisions are 
made before enlargement, but said a new 
overhaul would be necessary if the bloc 
expanded to more than 211. 

A radical reform of the EU *s Common 
Agriculture Policy is also prescribed in 
the document, with cuts of 10 percent in 


EU-guarunlecd prices For milk and 20 
percent for grains. 

The EU executive says the EU should 
live - under the current ceiling of the 
member stales' Financing until 2006. 

The European Commission president. 
Jacques Sanler. will unveil proposals on 
Wednesday to reform the Ell budget, its 
farm spending and aid programs to poor 
regions. 

All these all necessary tasks if the 
executive wants a smooth transition to a 
larger Ell. 


Mr. Santer will also renew his plea to 

carry out in-depth institutional changes 
before newcomers join, an issue still 
unresolved despite two years of nego- 
tiations. 

The Commission's proposal will not 
he the last word on who will negotiate 
EU entry because it could he overturned 

by EU governments, which have dif- 
ferent national interests at stake. 

A final decision will be made by EU 
leaders at a Luxembourg summit meet- 
ing in December. (Renters. API 


> ‘Vi 

-Pi zii 


L-' 





PAGE 8 


WEDNESDAY, JULY 16, 1997 

EDITORIALS/OPINION 


llcralb 


INTERNATIONAL 



PIBLISHKU WITH THE >F» YORK TIMES AND THE WASHINGTON POST 


Explain About Bosnia 


(Sribttttg Pay Attention to Russia ’s Reforming Regions 


President Bill Clinton was tight to 
acknowledge this past weekend that 
U.S. troops may have to remain in 
Bosnia beyond next summer. Now he 
should forthrightly explain why, both 
to Congress and ro the American pub- 
lic, and so build support for this im- 
portant mission. 

The administration's history puts 
him at an initial disadvantage. He re- 
sisted involvement for several years, 
even as mass atrocities were taking 
place. When the United States finally 
committed troops as part of a NATO 
"Implementation Force," Mr. Clinton 
said the soldiers would be in Bosnia for 
only a year. After the 1996 election, he 
extended the commitment for another 
18 months, with the lame semantic ex- 
cuse that the Implementation Force had 
finished its work but a “Stabilization 
Force’ ' was taking over. As recently as 
this month, as Congress moved toward 
requiring a pullout by next summer, top 
officials said they objected on prin- 
ciple, not because they were contem- 
plating another extension. 

These evasions and rolling revisions 
may be understandable given congres- 
sional reluctance to get involved at all, 
but in the Jong run they hurt the mission 
and the possibility of building public 
support for it. From the start the pres- 
ident should have said that the United 
States has good reasons to help bring 
peace to Bosnia, both moral and stra- 
tegic. and that therefore the United 
States has reason to do the job right. 


The Season in Ulster 


Northern Ireland is two weeks into 
its annual marching season, a ritual of 
confrontation commemorating 17th 
century Protestant military victories 
over Catholic forces. These martial 
parades,- which pass provocatively 
through Catholic neighborhoods, have 
often ignited sectarian violence. This 
year's season started out following the 
usual destructive pattern. Bur last 
week, on the eve of marches celeb- 
rating the decisive Protestant triumph, 
sanity prevailed. The main Protestant 
marching society, the Orange Order, 
rerouted its parades away from Cath- 
olic areas in four cities, something it 
has previously refused to do. The nun 
away from confrontation increases 
pressure on the Irish Republican Army 
to end its terrorism. A new cease-fire 
would enable the IRA's political wing, 
Sinn Fein, to join peace talks next fall. 

The Orange Oraer’s decision came 
after this season's first major parade 
precipitated Ulster's worst violence in 
years. On July 6, British troops and 
provincial police, bowing to Protestant 
threats of violence, forcibly cleared a 
path for marchers through a Catholic 
area of Portadown. This show of of- 
ficial partiality undermined moderate 
Catholic parties and allowed the IRA 
to pose as die armed defenders of an 
abused Catholic minority. Ulster’s 


parades involve issues of turf, speech 
and the respective rights of the Prot- 
estant and Catholic communities. That 
makes them a central part of Northern 
Ireland's larger political equation. 

Decisions about regulating the 
marches should not depend merely on 
police calculations of which side 
threatens worse violence. Nor can the 
authorities count on last-minute ges- 
tures of restraint. Legislation to be voted 
on by the British Parliament this autumn 
would give final authority over parades 
and their routing to an independent 
commission, a good idea. Meanwhile, 
the British government must demon- 
strate to both sides that it is evenhanded 
and unintimidated by threats. 

Britain's prime minister, Tony Blair, 
recently initiated a new effort to draw 
the IRA into the peace talks. He en- 
dorsed a compromise timetable for 
paramilitary groups to tom in foetr 
weapons as negotiations progressed. He 
also promised that Sinn Fein could join 
the talks six weeks after an IRA cease- 
fire begins. But Mr. Blair understands 
that the IRA's terrorist core will resist 
making peace until it feels compelled to 
do so by the Ulster Catholic commu- 
nity. That is only likely to happen if the 
marching season passes without further 
Protestant provocations. 

— THE NE IV YORK TIMES. 


Exit Joe Camel 


You could almost get the idea, from 
the excited reaction, that R J. Reyn- 
olds has done something admirable in 
getting rid of the ad character Joe 
Camel. Let’s see. 

A tobacco company launches a cam- 
paign to “reposition” a flagging cig- 
arette brand and does so by going after 
the young. It turns its traditional camel 
icon into a swaggering, suggestive fig- 
ure whose every pose spells “cool” 
(some people even think the image is 
vaguely pornographic'}. The “repos- 
itioning" is a big success, and lots 
more young people begin smoking 
Camels, which in R. J. Reynolds’s 
moral universe is a good thing. The rate 
of underage smoking just happens to 
rise buoyantly at the same time, and 
studies suggest that small children are 
nearly as familiar with Joe Camel as 
they are with Mickey Mouse. 

As is well known, not all adults 
considered these phenomena cool, 
sexy or fun. Annoyance at Joe Camel 
was one of the many forces pushing 
toward federal nicotine regulation, 
for which we suppose the camel is to 
be thanked, and although the final 
shape of those regulations remains 
mired in die politics of die proposed 
tobacco settlement, it is a fair bet that 
Joe is one hostage whose continued 
existence no negotiations would have 
been able to preserve. For some 
anti-smoking advocates, he had come 
to personify the industry's insistence 
on marketing tobacco to children, and 


the sentiment was not far-fetched. 

It is against this background that 
R.J. Reynolds chose on Thursday to 
announce the cool camel's demise. 
Not, mind you, because it admits that 
there was ever anything wrong with 
him, or because he would probably 
have been banned anyway. And not — 
heaven forbid — because it has de- 
cided to stop sending the message that 
smoking is a fabulous, fun, sexy thing 
to do. No, say straight-faced repre- 
sentatives, they are getting rid of Joe 
because it was time to retire tbe char- 
acter, and they have bad “good re- 
sponse" from young people on a new 
ad campaign with the theme “What 
You’ re Looking For. ' ’ 

Such phony half-concessions of 
ground already lost, and the apparent 
widespread willingness to believe that 
the industry is genuinely trying to co- 
operate in lowering its own sales to 
young people, are familiar pitfalls in 
the search tor a tobacco settlement that 
will have bite. (We suppose that the 
question of “What They’re Looking 
ror" — could it be cigarettes, by any 
chance? — will be answered differ- 
ently in the anti-nicotine education 
campaigns that the tobacco industry 
keeps promising to fund as part of any 
tobacco settlement) . 

It is good to see Joe Camel go, but 
that does not mean we should cheer the 
people who created him for belatedly 
pulling the plug. 

— THE WASHINGTON POST 


ESTABLISHED /XT 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 
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KATHARINE P. D ARROW. Vice Chairman 
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•JAMES McLEOD. Ah enising Director • DfDER BRUN. Cinufotian Director. 
Duvcteur de hi Publiconoti. Richard McOeon 


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W ASHINGTON -Boris Yeltsin By Lee Hamilton Far East are “gagedona range of S 

may be the president, but sig- • issues with Asian neighbors. ■ country ftat cov . 

nificant political power is flowing from Moscow still sets the gene^aP; aSs and whSj regional 

Moscow to the re 210 ns. Democratic- emors now automatically sir in the un- d roach toward reform ana is u* „ 


Foreign policy cannot be made to 
unfold precisely on schedule, with pre- 
determined "exitscrategies” and guar- 
anteed results. Indeed, any public com- 
mitment to leave within 12 or 18 or 
some other number of months almost 
guarantees failure. It gives the bad 
guys an incentive to wait you out, 
dispirits your allies and, most dam- 
aging, saps yourown will to take on the 
hard and risky but necessary tasks, 
since you know you will soon be out of 
danger anyway. 

Given the self-imposed limitations, 
the mission has not gone badly so far. 
NATO forces have brought peace to 
Bosnia, taking almost do casualties 
along the way. The U.S. contingent is 
down frum more chan 20,000 to about 
8,000 troops, hardly an unsustainable 
commitment for an armed force of 
more than 1.4 million. It has cooper- 
ated successfully with contingents 
from Russia and many ocher nations. 

But much work re mains , and a pull- 
out now — - or next summer — could 
undo most of the accomplishments. A 
failure for NATO would be especially 
damaging just as the administration is 
making a case for NATO expansion. 
Mr. Clinton's tentative remarks over 
the weekend (“We'll have to discuss 
what, if any. involvement the United 
States should have there’ *) may indicate 
that he understands the danger. He will 
have to speak out more forcefully to 
extend that understanding to others. 

— THE WASHINGTON POST. 


Moscow to the regions. Democratic- emors now automatically sit in the up- P roach toward reform and is son an ... a difference, 

ally elected regional leaders have per house of the Russian Parliament, important arbiter of political power ana ^^.Fjnited'Stties and other Western 
growing power in Russia's politics, which gives them greater ability to dispenser of resources. Moscow rerains J “ . chnuki target their assistance 

P v,n fWIan ™Cli*v A * JnrwSkts r-nnrrnl nf the SeCIlritV fOKBS. Tie RlIS- COUHtneS StiOUlO target 


economics and even foreign policy. defend regional interests. 

Russia's evolution toward a decent- The Kremlin and various regions 
ralized federal state has important and have agreed to some 30 power-sharing 
positive, implications, including a re- treaties. These treaties define the re- 
duced likelihood that Russia will revert* spective power of the center and the 
to a Soviet-style authoritarian state regional governments, and increase re- 
any time soon. gional autonomy. 

The political and economic levers of The Russian Federation is still 
Moscow’s power collapsed in 1991. evolving, but the important point is that 
No well-functioning system of central the constituent parts of Russia now 


rawer has replaced the old regime. 
Regional governors and legislatures 
have taken up the slack. 

The Russian executive and legis- 
lative branches have frequently dead- 
locked on important issues, such as 
land reform, with the result that the 
regions have made their own decisions 
and gone their own way. 

Most governors of Russia's regions 
now have been elected democratically. 
These elections have empowered gov- 
ernors whose focus is on promoting the 
interests of their regions. The gov- 


defend regional interests. ' control of the security forces. THeRus- SS^TwTSe 

The Kremlin and various regions sian Federation is not disintegrating. . r ,^ aders ^ comm imS to reform 
have agreed to some 30 power-sharing But the underlying shift in power to loc , lesson from ^ 

treaties. These treaties define the re- the regions is clear. 1AJ. .«:***«£* to Russiais 

Spective power of the center and the The diffusion of powerrn Russia has ^ five and effective Russian 

regional governments, and increase re- important implications. The ability of toata difference in help- 

gional autonomy. Moscow to amass economic and mil- partnermakes „f nrm 

The Russian Federation is still itary resourees for an expansionist for- mg be on trainine for 

evolving, but the important point is that eign policy has rignificantly dimm- 0Ood governance 

the constituent parts of Russia now is bed. This diffusion of power helps regional officials g 8. 


the constituent parts 01 Russia now 
matter. Resource-rich regions such as 
Tatarstan, for example, have signed 
advantageous treaties that give them a 
greater share and greater control over 
their resources. 

Crucial decisions on reform are 
made at the regional level. Reform has 
prospered in regions where tbe gov- 
ernors are progressive — Samara, 
Novgorod, Nizhni Novgorod — and 
had setbacks where governors are 
Communist or corrupt. 

Regional leaders are Increasingly ac- 
tive in foreign affairs. Governors in tbe 


check and balance central authority. 

Democracy in the regions, as well as 
in Russia's cities, tempers imperial 
tendencies in the Moscow elite. 

In respoose to this trend, U.S. policy 
should focus more on Russia’s gov- 
ernors, much as foreign countries deal 
with U.S. state governors. E very effort 
should be made to bring regional lead- 
ers to the United States to help build 
democratic and marker-oriented re- 
gional governments. 

Even as the State Department is clos- 
ing U.S. consulates around the world 


and in creating the right business con- 
ditions to stimulate investment. 

Devolution of power is a new reality 
in today's Russia. Kremlin politics still 
matter, but outsiders’ policies can bet- 
ter promote reform if they pay more 
attention to the “Federation" part of 
the Russian Federation. * 

The writer is the ranking Democrat 
on the International Relations Com- 
mittee of the U.S. House of Repre- 
sentatives. He contributed this com- 
ment to The Washington Post. 


America’s Diplomats Abroad Are More Necessary Than Ever 


W ASHINGTON — “We 
have not heard from our 
ambassador in Paris for. two 
years. If we do not hear from 
him by the end of this year, let 
us write him a letter," Thomas 
Jefferson is said to have written 
to his secretary of state almost 
two hundred years ago. 

Times have changed. The 
communications revolution has 
shrunk distance. Voice and 
print communication can be in- 
stant between Washington and 
Paris, or Buenos Aires or Tokyo 
or remote jungles and deserts. 

In an age of ra pid transocean- 
ic travel, American presidents 
frequently send trusted personal 
envoys or high-level officials to 
represent America in foreign 
negotiations, rather than rely on 
U.S. diplomats in place. A pres- 
ident today, if he wanted to take 


By Casimir A. Yost and Mary Locke 


the time, could micromanage 
the work of his envoys. 

Some argue that American 
representation abroad is obsol- 
ete. Overseas diplomats, they 
claim, can be replaced by the 
fax and airborne envoys. In the 
information age, they argue, we 
no longer need so many Amer- 
icans living abroad pursuing 
U.S. government interests. 

In fact, the combination of 
severe budget cuts and the de- 
cision to open embassies in the 
newly independent states of the 
former Soviet Union and Yu- 
goslavia has meant that U.S. 
diplomats are spread far more 
thinly around the globe than in 
the days of the Cold War. 

Should U.S. diplomats over- 
seas be placed on an en- 


dangered species list? Have 
they outlived their usefulness? 

The Institute for the Study of 
Diplomacy at Georgetown Uni- 
versity published a study last 
month entitled “Who Needs 
Embassies? How U.S. Missions 
Abroad Help Shape Our 
World.” In it, five experienced 
diplomats write about U.S. em- 
bassies in Israel, South Africa, 
Germany, Guatemala and 
South Korea. 

They argue that the demands 
on embassies have actually in- 
creased in recent years. Amer- 
ican diplomats are pursuing a 
more complex agenda as the 
freeze of the Cold War thaws. 

During the Cold War, U.S. 
diplomats, wherever they were 
stationed, focused on East-West 


confrontation. Today the U.S. 
diplomatic agenda can include 
peacemaking, environmental is- 
sues, nuclear proliferation, anti- 
narcotics work and trade pro- 
motion as well as the analytical 
assessments, protection of cit- 
izens. visa issuing and relation- 
ship building that diplomats 
have pursued for centuries. 

American embassies are now 
filled not only with traditional 
Foreign Service officers but 
with FBI agents, Treasury of- 
ficers, drug enforcement rep- 
resentatives. commercial of- 
ficers and agricultural and 
health experts. 

The expanding number of de- 
mocracies has also increased 
the diplomatic workload. All 
five authors in the ‘ ‘Who Needs 
Embassies?” study point out 
that democracies present a 


Old Clinton Friends Split Over NATO Expansion 


N EW YORK — Washing- 
ton's policy wars can strain 
long-standing friendships. As 
the capital starts to take sides 
over the wisdom of NATO ex- 
pansion, one casualty may be a 
remarkable partnership be- 
tween two of the country 's most 
thoughtful foreign policy spe- 
cialists, both among the oldest 
friends of Bill Clinton. 

For years Strobe Talbott, the 
deputy secretary of state, and 
Michael Mandelbaum, a pro- 
fessor at the Johns Hopkins 
School of Advanced Interna- 
tional Studies, were the closest 
of intellectual confederates. 
Today they are highly visible 
combatants in the developing 
battle over NATO’s ill-con- 
ceived plan. Mr. Talbott be- 
lieves fervently in eastward ex- 
pansion. Mr. Mandelbaum just 
as fervently opposes iL 
No one knows the intricacies 
of the issue better than these 
two. Mr. Talbott opposed an 
early version of NATO enlarge- 
ment, and Mr. Mandelbaum 


By Philip Taubman 


was initially a proponent of ex- 
pansion. That two specialists 
steeped in European security 
matters see the matter so dif- 
ferently, and passed each other 
going in opposite directions, 
gives some idea of the chal- 
lenge that will confront the Sen- 
ate as it considers the plan. 

Tbe U.S. Senate has not 
tackled a foreign policy issue of 
such complexity and importance 
since it considered the arms con- 
trol treaties of die Cold War. 

Mr. Talbott hasmherited the 
place of George Keonan as the 
State Department’s senior stu- 
dent of Russian affairs. Like 
Mr. Kennan a generation ago. 
he is trying to redesign the ar- 
chitecture of European security 
at the beginning of a new era on 
the Continent. It pains him that 
Mr. Kennan. whom he admixes 
greatly, considers NATO ex- 
pansion to be “the most fateful 
error pf American policy in the 
entire post-Cold war era.” 


Mr. Mandelbaum is the most 
prolific critic of the NATO 
plan. On newspaper opinion 
pages, television newscasts and 
in a new booklet entitled 
“NATO Expansion: A Bridge 
to tbe Nineteenth Century," he 
attacks the idea with 2 est. 

Last week he instructed read- 
ers of The Wall Street Journal 
that “the Senate now has the 
opportunity to save the United 
States and its allies from the 
administration's folly by reject- 
ing a scheme that is at best 
pointless, at worst extremely 
dangerous.” 

These sallies clearly sadden 
Mr. Talbott, not so much be- 
cause they challenge the NATO 
plan, which last week moved 
ahead as the alliance offered 
membership to Poland, Hun- 
gary and the Czech Republic. 
He recognizes that there must 
be a vigorous debate before the 
Senate votes on the matter in 
1998. His distress comes from 


Business and Customs Together 


P ARIS — Business and 
cusroms services should 
join forces to stop narcotics 
traffickers from using legit- 
imate commercial shipments 
to smuggle illicit drugs. 

In this alliance, companies 
would enforce their own vol- 
untary standards governing 
packing and shipping prac- 
tices, always in close collab- 
oration with customs. That 
way. the expertise, technical 
knowledge and management 
skills of business can be 
brought into a battle that gov- 
ernments have to win for the 
sake of the people who put 
them in office. 

The idea is not os revolu- 
tionary as ii may sound. In an 
era of economic liberaliza- 
tion, governments rely in- 
creasingly on business self- 
regulation instead of imposing 
standards and requirements 
themselves. 

In the United States, a Busi- 
ness Anti-Smuggling Coali- 
tion is running prototype 
schemes at San Diego, Miami 
and Laredo. Texas. This pub- 
lic-private partnership will 
soon extend to the entire coun- 
try. Companies in the United 
States. Mexico and Central 
and South America are active 
participants in this coalition. 

In addition, more than 
3,000 U.S. air. sea and land 
camera have signed up for a 
U.S. Customs “Carrier Initi- 
ative" program ro share the 
burden of stopping the inward 
flow of drugs. 

My own company. Mattel, 
was the first to take part in the 
anti-smuggling coalition and 
is leading the prototype op- 


By Fermin Cuza 


eration in San Diego. We have 
established partnership agree- 
ments with our manufacturing 
plants, customs brokers, car- 
riers and vendors. 

Partnerships on these lines 
between business and customs 
should be applied internation- 
ally without delay, building 
on the American experience. 
Given the huge social costs of 
drug trafficking and addiction 
throughout the industrialized 
world, business and govern- 
ments should move fast 

The mechanism is already 
there in the cooperation agree- 
ment concluded last year be- 
tween the International Cham- 
ber of Commerce, representing 
business throughout the world, 
and the World Cusroms Or- 
ganization. Under that agree- 
ment, business and customs 
administrations plan to work 
together to promote and sup- 
port efficiency in customs con- 
trol and facilitation. 

Certainly one urgent task 
for the ICC and the WCO is to 
devise a burden-sharing pro- 
gram in the fight against nar- 
cotics smuggling. Customs 
administrations worldwide 
need all the help they can get 
in coping with increasingly 
complex international trade 
patterns that make smuggling 
much harder to delect. The 
ICC and the WCO should en- 
courage companies 10 imple- 
ment programs within their 
organizations and build part- 
nerships with customs. 

The chain from raw mate- 
rials to finished products is 


lengthening, and many pro- 
ducts contain components of 
widely different origins. That 
means increased opportunities 
for smugglers to infiltrate their 
contraband into legitimate 
commercial consignments. 

As tariff barriers come 
down, customs’ revenue-rais- 
ing function diminishes in rela- 
tive importance. The priorities 
now are interdiction of drugs, 
suppression of environmental 
hazards, monitoring of danger- 
ous goods and protection of 
intellectual property. All these 
customs objectives have the 
full support of world business. 

Business and governments 
have a specially clear conver- 
gence of interest in the fight 
againsi narcotics smuggling. 
After all , compan ies are part of 
the communities whose stabil- 
ity is affected by the spread of 
drug addiction. The presence 
of illicit drugs in legitimate 
shipments hinders trade and 
can cause irreparable damage 
to a company's reputation. 

Responsible corporate cit- 
izens must be willing to take 
responsibility for securing 
their factories and shipments 
to keep them free from drugs. 
The adversarial relationship 
between business and customs 
should be a thing of the past. 
We are all in this together. 

The writer, vice president 
for international trade and 
government affairs of Mattel 
Inc., heads ihe International 
Chamber of Commerce Com- 
mittee on Cusroms and Trade 
Renularitm. He contributed 
this comment to the Interna- 
ritmal Herald Tribune. 


frustration and disappointment 
that one of his closest friends 
should wind up one of his most 
determined opponents. 

The break was foreshadowed 
early last year when Mr. Man- 
delbaum published a stinging 
critique of Clinton foreign 
policy in Foreign Affairs. 

These were not just two class- 
mates at Yale in foe mid-1960s 
who stayed in touch. They came 
to share a consuming passion 
for the study of foreign affairs 
and diplomacy, particularly nu- 
clear weapons policy. Mr. Tal- 
botr became a correspondent 
and editor at Time. Mr. Man- 
delbaum taught at Harvard, then 
worked at foe Council on For- 
eign Relations in New York. 

When foe two men got to- 
gether in Washington early in 
their careers, they loved to 
brainstorm about nuclear 
strategy, starting with drinks in 
Mr. Talbott’s sunroom, moving 
to the dinner table and continu- 
ing over coffee in foe living 
room. Mr. Mandelbaum ’s in- 
terests eventually led him to a 
closer study of communism and 
foe Soviet Union, and the work 
of foe two friends converged in 
1987 in a jointly produced book 
about Ronald Reagan and 
Mikhail Gorbachev. 

The pair met Mr. Clinton at 
Oxford in foe late 1960s. Mr. 
Talbott was a fellow Rhodes 
Scholar. Mr. Mandelbaum was 
a frequent visitor from Cam- 
bridge University. 

They stayed in touch with foe 
aspiring Arkansas politician. 
By foe time Mr. Clinton was 
elected president in 1992, it was 
clear that he wanted both men in 
senior foreign policy posts. Mr. 
Talbott accepted a job. Mr. 
Mandelbaum did not “I guess 
that's just as well." Mr. Man- 
delbaum said foe other day. 

The Ne m Yurie Tinea. 


much more complex diplomatic 
challenge than authoritarian re- 
gimes. In tbe latter, decisions 
are made by a relatively small 
group of leaders and their staffs. 
Democracies, on foe other 
hand, distribute power. 

To understand and to affect 
decision making in a demo- 
cracy, diplomats must range 
broadly through parliamentary 
and party corridors, into news- 
rooms and interest group offices 
and beyond the capital city. 

No longer is it possible. 10 
conduct foe business of the 
United States with a narrow 
leadership group in Seoul, 
Warsaw, Pretoria or Guatemala 
City. And diversity cannot be 
accessed by fax. CNN's cov- 
erage, although excellent, can- 
not track political forces in 
Guatemala or South Korea or 
South Africa which affect U.S. 
interests. Support for importanr 
decisions in such world bodies 
as the United Nations or foe 
World Trade Organization can- 
not be built. by e-mail. 

How good a job is foe United 
States doing in this complex 
new environment? The record 
is uneven. 

The five countries surveyed 
in foe Georgetown study are 
considered high-priority in 
Washington. U.S. embassies in- 
these countries are getting at-; 
tendon and resources! These, 
embassies, in turn, are pursuing 
key American interests that in- 
clude- peacemaking (Israel), 
peace building (Guatemala), 
democracy reinforcing (South 
Africa), regional stability 
(South Korea) and European se- 
curity (Germany). >.« 

But in order to adequately' 
fund activities in these priority 
countries, Washington is redu- 
cing its official presence and 
attention in countries where 
U.S. interests are considered re- 
latively less important in Africa, 
Asia and Larin America. 

The United States is, in foe 
process, using up what amounts 
to national security capital, in 
the form of influence and ties 
build up over decades in coun- 
tries all over the world. 

By cutting its diplomatic rep- 
resentation and its aid and in- 
formation programs around foe 
world, Washington risks con- 
tributing to a diminution in U.S. 
global influence at a time when 
U.S. global interests and de- 
pendencies are expanding. 

Short-run budget considera- 
tions are crowding out long- 
rerm interests. 

The writers are co-editors of 
the Institute for the Study of 
Diplomacy's monograph “ Who 
Needs Embassies? How U.S. 
Missions Abroad Help Shape 
Our World." Mr. Yost is director 
and Ms.. Locke an associate of 
the institute. They contributed 
this comment to the Interna- 
tiona! Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 
1897: Violent Pursuit nervous tension in that city i 


PARIS — Recently there have 
been several cases of lovers 
who had ceased to please their 
inamorate resorting to such un- 
conventional methods of woo- 
ing as (he use of knives and 
revolvers. A case has been re- 
ported in foe Temps , foe luck- 
less swain in this instance being 
a private of the Republican 
Guard named Comeli. Comeli 
was madly in love with a Mile. 
Faivre, who turned a deaf ear to 
his suit and finally peremptorily 
bade him begone. Comeli 
thereupon drew out his bayonet 
and inflicted a serious wound 
upon his unwilling flame. The 
girl was removed' lo hospital, 
while Comeli went home and. 
like Saul, fell upon his sword. 
His life is despaired of. 

1922: Trotsky Rumor 

LONDON — According to a 
message from Moscow, the 


nervous tension in that city is 
reflected by a report that Trot- 
sky had been assassinated. The ~ 
whole city went wild with ex- 
citement for an hour or two. 
Then foe truth came out. Trot- 
sky was safe, but his dog had 
been run over and killed by a 
motor-car. 

1947: Laundry Help 

NEW YORK • — A new system 
of doing laundry that has helped 
housewives no end has been in 
operation for many months. 

Launderettes" and “Laun- 
dromats” are open for business 
in forty-five states. Women put 
quarters m a slot, and for a 
quarter are entitled to nine 

pounds of wet washing, which 0 

comes out in half an hour ready 
to iron. When women become 
worried about whether the pro- 
cess is sanitary enough, em- 
ployees draw off a glass of foe 
last nnse water and drink it irt 
front of foe skeptics’ eyes. 


•U 


W*- 
*'% '* “V 


vSp 



Regions 

riget reasons, ther ■ 
ent that the Untied c ls a ■>,„ 
:onsulaies in a c n ^ 


INTERNATIONAL HERALD TRIBIWJE. WEDNESDAY, JULY 16. 1997 

OPINION/LETTERS 


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The Incredible Changing 
U.S. Policy on Bosnia 


Bv Richard Cohen 


Floating on Air , or the Best Experience I Never Had 

^TEW YORK — Every time someone Bv Tomas Eloy Mar tinez 1x1 1934, the dirigible pilot Hugo Ecken- 

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d United 5ia:e« w ,;h i as* 

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South At r ic a ■* h; ir, : c { 
tnisresti. Surrv-n tor imp.ru 


W ASHINGTON — Could it 
be that General John Sha- 
•likashvili, the chairman of the 
;U.S. Joint Chiefs of Staff, has an 
■identical twin? Could it be that 
that one. Timid Shali. is “abso- 
lutely” opposed to using NATO 
troops to arrest Bosnians indicred 
for war crimes but that his twin. 
Tough Shali. thinks it is ■•terribly 
/ > [important" that these guys be ap- 
prehended? Will the' real John 
Shalikashvili stand up? 

Never mind. After a lifetime sa- 
luting everything in sight, there's 
no tell mg who die real Shali is. One 
of them? for sure, said last spring 
that he agreed, wholeheartedly and 
w ith apparent conviction, with the 
NATO policy not to seek out and 
■arrest indicted war criminals. 
"Absolutely. I'm against it,” he 
said when asked about so-called 
snatch operations, i was there and 
the man uttering those words cer- 
tainly looked like Shali. 

Yet a man with the very same 
name — and wearing the very 
same uniform — told CNN on 
July 6 that peace in Bosnia de- 
pended on putting the bad guys 
behind bars. “And so it is terribly 
important that a way be found to 
apprehend these war criminals 
and bring them to justice,*’ Gen- 
eral Shalikashvili said. 

I cite the two Shalis for a pur- 
pose. They personify the Clinton 
administration’s inability (or 
maybe unwillingness) to formu- 
late a Bosnia policy and then stick 
with it. In die beginning, that 
policy seemed to be jusr to stay out 
of the whole mess. Then it was to 
send troops and now, obviously, it 
is to arrest war criminals. 

That's the right course, but it has 
been set without much commo- 
tion. You are excused if you have 
. not noticed that the U.S. Bosnia 
. ? policy ain't what it used to be. 

The original decision not to go 
after war criminals was based on an 
avoidance of "mission creep.” In 
fact. General Shalikashvili cited an 
example of that — the failed 1993 
operation in Mogadishu in which 
1 8 soldiers were killed — as the 
prime reason the United States was 


..?*■ ,. ‘ 77' " prime reason the United States was 

' ,: ’ T j ' t not going toplay sheriff in Bosnia. * 

X\r m t r ' : ^ : The United States promptly pulled 

J J::~V ™- out of Somalia, “ffs a usIfUl les- 


nor be bu:!‘ e-:r j:! 

How .. ’or inelsc 
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ijur.c-.en 

Tne fr.r - w*. 

in the Ge. ••••• r. -tadj: 

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these coun*.-:c' arr iemffi:- 
tec^on rr.j Tk 

err.basne' :t* ij.n. jrrpic.c 


son that we learned that I am not 
about to unlearn,” General Sha- 
likashvili said. 

Now. though, that lesson is be- 
ing unlearned. In the last week. 


NATO killed one indicted war 
criminal when he resisted arrest 
and apprehended another. Appar- 
ently. the policy has been 
changed. The arrests were ex- 
ecuted by British troops with 
some U.S. assistance, but it’s not 
possible that Americans will be 
excluded from future operations. 

If the policy has indeed been 
changed, il was done so on the 
sneak. The two Bosnian Serbs 
were surprised but so. although 
not fatally, were the American 
people. 

This is a dangerous maneuver. 
After all, sooner or later, the. 
United States might suffer cas- 
ualties — and when that happens a 
howl will emit from Congress that 
will be heard in Pale, the' Bosnian 
Serb capital. Already. Congress is 
telling President Bill Clinton not 
to extend the U.S. commitment to 
NATO’s Bosnia operation past 
June 1998. And already. Mr. Clin- 
ton is hinting that even if he is 
forced to pull out the troops ( about 
8.000 remain) he will find some 
way to continue to support the 
NATO operation. 

Taken together, the decision re- 
garding war criminals and (he ap- 
parent determination to keep a 
hand in Bosnia amount to a po- 
tentially momentous change in 
policy. I happen to think both de- 
cisions are rigbr and both can be 
easily, and convincingly, defen- 
ded. But the Clinton administra- 
tion has not done so. 

Instead, it seems to send out its 
human weather vane, Shali, to 
first turn one way and then rum 
another. 

Europe has always been good at 
war. Central and Eastern Europe 
are absolutely brilliant at it. Twice 
this century the United Stares has 
been drawn into world wars. 
That’s why the Clinton adminis- 
tration is right about extending the 
North Atlantic Treaty Organiza- 
tion, staying involved in Bosnia 
and pursuing the war criminals 
who can’t wait to get back into 
business. 

But the bad guys know — or 
think they know — that the United 
States will not take casualties. . 
They will test us. I’m sure our 
U.S. troops are prepared for that 
eventuality, but I am just as sure 
that the American people — ab- 
sent a presidential explanation of 
his emerging policy — are not. 

The Wj.dnnghtn Post. 


N EW YORK — Every time someone 
asks me what I remember with 
greatest intensity from the past. 1 answer 
with an unintended paradox: “What I 
remember most is what I have not seen." 

And what I miss most are often col- 
lective experiences that even now stir 

MEANWHILE 

people's imagination but at which I was 
not present. 

Most of them are festivities or tra- 
gedies: 

• The arrival of Emiliano Zapata in 
Mexico City followed by an army of peas- 
ants; 

• The burial of the tango singer Carlos 
Garde! in 1933 and of Evita Peron in 
1952; 

• The hogoiato. or Colombian people’s 
uprising on April 9. 1948. after the as- 
sassination of Jorge Eliecer Gaitin. the 
Colombian liberal leader, in Bogota; 

• The arrival of Che Guevara and Fidel 
Castro in Havana, in January 1959. 

Nothing is as deeply felt as stories we 
have not lived. 

There is, however, one episode from 
before I was bom that I truly would have 


loved to experience: the flight of the di- 
rigible Graf Zeppelin above the rooftops 
of Buenos Aires and Rio de Janeiro. 

It was just a couple of months ago, in 
May, that the tale of a tragic dirigible 
flight briefly returned to the newspapers 
— the 60th anniversary of the fire that 
destroyed the Hindenburg in Lakehurst, 
New Jersey, putting an end to the illusion 
that human beings would be able to cir- 
cumnavigate the'world in vessels lighter 
than air. 

Some rime ago I saw parts of the Graf 
Zeppelin in the National Air and Space 
Museum in Washington. 

An enormous dining room could ac- 
commodate 50 guests, who had to sit in 
full dress at the tables. 

Travelers could fight the weariness of 
the long trans- Atlantic joumev by walking 
along the corridors, as if they were 
strolling about a square, while looking at 
the horizon of clouds and imagining under 
their feet the enormous paunch of the 
dirigible. 

Sixty years ago. a voyage in a Zeppelin 
was the supreme fancy of millionaires. A 
ticket between Recife and Friedrichshafen 


cost $1,000, the price of a luxurious car, 
and all the flights were booked at least six 
months in advance. In the beginning, be- 
fore regular flights were scheduled'from 
Rio. travelers had to board the dirigible at 
Recife, in northeastern Brazil. 

The ocean crossing started at dawn and 
lasted 60 hours. After flying over 
Fernando de Noronba island, the captain 
gave each passenger a certificate to cel- 
ebrate the traversing of the Equator. 

The dirigible flew over the mouth of the 
Pico da Coroa volcano, in the Cape Verde 
islands; over the minarets of Mogador, 
Casablanca and Tangier, then crossed 
Gibraltar and soared over Almerfa, 
Spain. 

After that the passengers were able to 
admire the aerial silhouettes of Cartagena, 
Valencia and Barcelona. 

The swastikas of the Third Reich were 
painted in the dirigible’s tail, but in the 
1930s nobody canceled the journey for 
such a reason. The atrocities of Nazism 
were still considered “respectable patri- 
otic efforts” and the deportation of Jews 
and the confiscation of their properties 
surfaced as only transitory tragedies. 


was as famous as Albert Einstein or Ma- 
dame Curie. When he landed die Graf 
Zeppelin inBuenos Aires, at 8:00 A.M. on 
June 30, he created a sensation that lasted 
several weeks. 

That day, a Saturday, before dawn, the 
roofs and balconies of the Argentine cap- 
ital were ftill of onlookers. When the 
Zeppelin flew over the National Congress, 
thousands of women leaving the nearby 
cathedra] fell to their knees on the Aven- 
ida de Mayo, a main thoroughfare in 
downtown Buenos Aires, and thanked 
God for allowing them to see such a sign 
of progress. 

More than once I’ve imagined being on 
board the Graf Zeppelin, returning to a 
Buenos Aires in which I never lived. 

And that is the truth: I remember what I 
did not have, and I see what I did noi 
experience. 

The writer, author of “ The Peron Nov- 
el" and “ Santa Evita." is chairman of the 
Latin American studies department at 
Rutgers University. This article was dis- 
tributed by Nevi' York Times Special Fea- 
tures. 


LETTERS TO THE EDITOR 


Taiwan Responds 

Regarding " The West Should Face It: 
Taiwan Is Part of China ” (Opinion. July 
10) by Gregory Clark: 

Mr. Clark's glib assessment of the role 
Taiwan plays in relations between Beijing 
and the West reflects an alarming will- 
ingness to embrace a simplistic view of a 
complex problem. 

For instance. Mr. Clark declares that 
“Taiwan is pan of China” as if this were 
some overlooked truth; yet Taipei and 
Beijing both subscribe to the idea that 
Taiwan is part of China, so this is hardly the 
basis of some future “flash point.” They 
differ in their definitions of what "China” 
is, and that is reflected in the careful am- 
biguity of the word when referring to 
Taiwan in the 1972 Shanghai Commu- 
nique. 

Mr. Clark buys at face value Beijing’s 
assertions that Taiwan is working toward 
independence. In fact, the Republic of 
China has no reason to declare indepen- 
dence; it has been sovereign since 1912 and 
has exercised sole jurisdiction over Taiwan 
since 1945. 

While the majority of voters in Taiwan 
have consistently rejected independence, 
they have also rejected by a wide margin 
surrendering their hard-won right to hold 
their head of state accountable through 
democratic ejections to a regime that insists 


on autocracy and the right to use force 
against Taiwan. 

For all his bemoaning the '‘glaring il- 
logicality of current Western policies,” 
Mr. Clark falls prey to specious reasoning 
when be says that Western acceptance of 
the “Taiwan is pan of China” statement is 
an implicit acceptance of Beijing's right to 
use force against Taiwan, and that “no one 
demurred” when Beijing asserted its right 
in principle to use force for reunification 
with Taiwan. 

He fails to note the Taiwan Relations Act 
of 1979. the vety basis of subsequent re- 
lations between Washington and Taipei, 
and Washington and Beijing. Its contents 
amount to far more than demurral. as 
demonstrated when the United States sent 
two aircraft carriers to the Taiwan Strait 
last year during Beijing's attempted in- 
timidation during the presidential election 
on Taiwan. 

The West should have learned from • 
its own bitter history in the 20th century 
that appeasing autocratic regimes and 
becoming apologists for the nationalist 
mantle in which they cloak less noble 
aims ultimately .undermine peace and 
stability. 

DAVID TAWH LEE. 

Taipei. 

The writer is government spokesman for 
the Republic of China. 


"Them Furrmers* 

Regarding “ U.S. Should Quit Bossing Its 
Friends ” ( Opinion , July J) by Anncke van 
Dak-van Weefe: 

The Dutch minister for foreign trade has 
written a cogent summary of how Amer- 
ican policies toward Cuba are affecting 
European- American relations. However, 
the article is naive in its assumption that the 


U.S. Congress is really concerned about 
international relations and the World Trade 
Organization, or abour Fidel Castro and 
communism. 

No, senators like Jesse Helms are really 
concerned with staying in the Senate. No 
candidate in the United States ever lost 
votes by standing up to “them furriners.” 
FRANK LUDWIG GROSSMANN. 

Le Chambon sur Lignon. France. 


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INTERNATIONAL HERALD TRIBUNE, 
WEDNESDAY, JULY 16, 1997 
PAGE 10 


STAGE/ENTERTAINMENT 




A Trail From Algiers to A vignon Return 0 f the Family GrisS 

■ • Ir'illc ghnnrrh^nfflcm aeainsr * 


By Joan Dupont 

Iniemuiioiial Herald Tribune 


A vignon — in the 

august Courd’Hon- 
neur, the Canadian 
director Denis Mar- 
ieau opened Avignon's 5 1st 
festival with Gotthold Eph- 
raim Lessing's . “Nathan le 
Sage,” written in I779,setin 
Jerusalem during a moment 
of truce among the Holy 
Land’s rival religions — Jew- 
ish, Christian and Muslim. 

At the Protestant Temple 
Saint-Martial, a vaulted room 
that seats 30. a theater for 
what is known as Avignon’s 
■off" festival, the Algerian 
director Hamida Ait El Hadj 
presented "Un Couteau dans 
ie Soleil." a short, poignant 
piece about the drama of 
people caught between a mil- 
itary regime and fundamen- 
talist terrorism, performed by 
a group of artists in exile. 

“The play (through July 31) A scene 
was produced with the help of 
the director Ariane Mnouchkine, who 
heads the Association Internationale de 
Defense des Artistes. 



A scene from "Un Couteau dans le Soleil. " 
ne, who that the Islamic Salvation From gives the 


people little choice between "repenting 
their wicked ways or getting the knife." 


"I came to see Ariane when I first The resistants make up a kind of Greek 


kills, about the racism against 
women and intellectuals. 
Francophiles, Anglophiles. 
And I am Russophile, Fran- 
cophile, Arabophile and Ber- 
bophile, and a woman.” 

Bom in 1954, at the out- 
break of the Algerian war, die 
director, who has produced 
Shakespeare in Kiev and Go- 
gol in Algiers, was raised in 
die Berber tradition, with 
little knowledge of the Koran. 
"We believe in God, but we 
don’t observe." 

Her sisters Faouzia and 
Leila were also attracted to 
the theater, which put them at 
odds with their parents. "In 
my family, you were sup- 
posed to choose medicine," 
she said. "I asked for a grant 
to study in Russia and Faouzia 
came with me. We were the 
first women in the Arab world 
to be trained as directors." 
She spent six years at Kiev’s 
Theater Institute. "They 
taught me everything. When I 
returned to Algiers, at the age 
of 34, the fight had already started — 
tenible conditions, threats — I’ve been 
fighting ever since. ” 


arrived in Paris from Algiers,” Ait El 
Hadj said. "I went to see the artist, not 
the militant. Ariane is an individual, not 
a political party: she never interferes 
with the creative process.” 

Ait El Hadj. who concedes that she 
herself is an activist, "constantly at the 
boiling pojnt and on the move," adapted 
the script with Farid Bennour from a 
mosaic of texts by Helene Cixous, Jean 
Senac. Youssef Sebti and Tahar Djaout 
— "Algerians, all." The poet Senac, a 
friend of Camus, was murdered in Al- 
giers in 1973: the writers Sebti and 
Djaout were murdered in 1993. And the 
play was inspired by Azzedine Med- 
joubi. an actor who had just been ap- 
pointed head of the National Algerian 
Theater when he was assassinated in 
February 1995. 

"He was acting in one of my pro- 
ductions. adapted from Gogol's 'Diary 
of a Madman 5 — 1 had him playing it as 
a terrorist." the director said. "The 
shock of his murder propelled us 10 
create ‘Un Couteau dans le Soleil.' ” 


chorus that recites in Arabic, Kabyle and 
French: "Weareall — 90 percent — of 
Berber origin," Ait El Hadj said. "As 
Senac the poet says, ‘I was bom Arab, 
Spanish. Berber, Jewish, French.* "The 
characters talk about Algeria as ' ‘a coun- 
try that existed once, and will exist 
again, perhaps, one day." They rage 
against the "cowards and informers." 
members of the regime, that brought the 
country down; they decry "the zombies, 
the living dead with their abject arrog- 
ance." the fundamentalists who liner 


streets with bloody corpses, heads 
severed from bodies — "You can’t talk 


about love in a country where people 
kill." the poet says. 


Yer. despite the anger, the knife and 
the bullet, the play is also about love, the 


T 


HE stage at the Temple Sainr- 
Martiafis adorned with a curved 


I sei designed by Ndrdine 
Lamara, representing the shore, 
the dunes and rhe mountains of Kabylia. 
A play within a play, "Un Couteau dans 
le Soleil." takes place during a rehearsal 
of a small croupe — an actor, singer, 
dancer and poet — interrupted by bark- 
ing loudspeakers, ominous reminders 


director insists: Violence is outside the 
theater. The actors are in harmony with 
their characters. Kassia Bonderie plays 
the singer, a Cassandra, the fearless 
woman who sees all. Assisi Guermra is 
rhe rebellious dancer, young and defiant 
Hamid Chabouni, a leading Algerian 
actor, plays a part based on Medjoubi. 

Ait El Hadj. a small round woman 
who describes herself as looking like a 
Jew ish mama, “or an Arab mama," runs 
down the streets of Avignon, distributing 
fliers, encouraging people to see the 
play. "We have nothing, no press at- 
tache. no money.” she said. "We exist 
because people who have seen us are 
moved. We are talking about fundamen- 
talist terrorism that attacks culture, that 


BOOKS 


TEARING THE 
SILENCE: 

On Being German in 
America 


By Ursula Hegi. 302 pages. 
S24. Simon & Schuster. 


Reviewed by 
Jonathan Yardley 


U RSULA HEGI was bom 
in a small town in Ger- 


u in a small town in Ger- 
many in 1946. At the age of 1 8 
she immigrated to the United 
States, which she imagined to 
be a "perfect" place to "start 
a new life," "a wonderfully 
classless society without pre- 
judice." She attended col- 
lege. became a respected 
scholar, and wrote several 
books, one of which, a novel 
called ' ’ S tones From the 
River." recently was chosen 
as a selection of Oprah Win- 
frey's television book club. 

She became, chat is to say. a 
success American-style, yet 
she remained haunted by her 
German past and by the broad- 
er question of ‘'what it means 
to be linked to two cultures.” 
If one of those cultures is Ger- 
many's. rhis experience can be 
especially unsettling: "I've 
struggled against and come to 
accept over the years — that I 
grew up in a country that 
murdered millions of children, 
women and men. and that I 
cannot sever myself from that 
country, though I have cer- 
tainly tried to do that.” 

This book is the result of 
Hegi's preoccupation with her 
divided identity. She “decided 


to find out what it was like for 
others of my generation," to 
study "the personal histories 
of Germans who were bom 
during or after the war and left 
their country of origin to settle 
in America.” She interviewed 
a couple of dozen people, then 
transcribed the interviews and 
edited them down to coherent 
narratives, 15 of which appear 
in "Tearing the Silence." Un- 
fortunately, though, one result 
of her intensive editing is that 
all the voices sound a good 
deal alike or. to put it another 
way, a good deal like Ursula 
Hegi. This does not diminish 
the interest or importance of 
their testimony, but it does 
leave one wondering, at times, 
exactly who is doing the talk- 
ing. 

The book's title suggests 
its central preoccupation. She 
recalls, from her German 
childhood, a "profound and 
eerie silence" where ques- 
tions raised by World War II 
were concerned. "As I went 
deeper into my research and 
writing." she says. "I real- 
ized that for many Germans 
of my generation this silence 
was normal — and normal is a 
terrible word under the cir- 


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cumstances — yet. we grew 
up with that silence. We 
didn’t know the right ques- 
tions to ask. and whenever we 
felt the pressure of undefined 
questions rising within us. we 
also felt the danger of asking. 
Questions about the war were 
far more taboo than questions 
about sex.” 

The silence originated with 
her parents and the parents of 
all those with whom she 
talked. Because their parents 
refused to talk about the war 
generally or the Holocaust 
specifically, except in the 
most cursory and evasive 
ways, this became a habit for 
the children as well, one that 
they brought with them to die 


United States. Once they got 
there, their expectations of a 
tolerant and open society were 
quickly crashed by reflexive 
condescension and hostility. 
People who learned they were 
German assumed at once that 
they were Nazis, and scorned 
or mocked them accordingly. 
The identity they wanted to 
leave behind was, if anything, 
intensified by how they were 
received in America. 

Few of them came to the 
United States as happy people. 
Some had had harsh experi- 
ence of wartime: many came 
from divided or broken fam- 
ilies. All wanted desperately 
to leave the past behind, the 
more so because they believed 
themselves to be innocent vic- 
tims of a different order: 
people charged with, and held 
accountable for, crimes they 
did not commit. As one put it: 
"I have a very difficult rime 
dealing with the Holocaust I 
think there is a collective bur- 
den in our generation because 
it is just so tremendous, so 
horrible. On the other side. I 
must say that we have this 
Gnade der spaten Gebun — 
the grace of late birth. It’s an 
easy way out. 1 don't have to 
really deal with it as long as I 
try not to do immoral things in 
my life, and do in mv Utile 


ways what I can do. 1 beUeve 
that strongly. ... But it came to 
my mind that there is a shad- 
ow of a coUective guilt. At the 
same time, I feel it is not my 
personal guilt, and there’s 
nothing lean do.” 

Another says: ”r read a lot 
about the Holocaust in the li- 
brary. I learned more from 
reading history than anything 
else — It's my heritage, but I 
had no say in it. I didn't have 
a hand in it, yet I live with the 
feeling. It was out of my con- 
trol. And yet I feel that my 
family or friends of ray family 
were involved or had to know 
somebody that was in- 
volved.” 

Though the stories in this 
book are not without a sense 
of redemption and renewal. 
Hegi is correct to say, as she 
does at the end, that “in every 
single story I felt a tremen- 
dous sense of loss — loss of 
home, of cultural identity, of 
dreams, of family, of safety, of 
parental love." As one of the 
storytellers says. “When you 
immigrate, you become 
somebody else” from who you 
were.” More than anything 
else, this book is evidence of 
just how hard that is. 


Jonathan Yardley is on the 
staff of The Washington Post. 


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1 PLUM ISLAND, bv 

Nelson DcMiUe 1 l 6 

2 SPECIAL DELIVERY. 

by Danielle Stevl. I 

J FAT TUESDAY. by 
Sandra Brown ..." 2 1 

4 THE PARTNER, by John 

Grisham . 3 18 

5 UP ISLAND, by Anne 

RuenSktfom 4 ? 

♦ CHASING CEZANNE. 

RaerMavfc . g 5 

7 LONDON, by EdwinJ 

Rulheriurd . .—I S 6 

8 THE NOTEBOOK, bv 

Nicholas Sparks io 38 

9 the Presidents 

DAUGHTER. h> Jack 

Hiscins 6- ij 

lOPRfcTEND YOU DONT 
SEE HER. by Mary 
Hi«ins Clark 7 12 

11 Oil: THE PLACES 
YOU'LL GO' by Dr 

Seoss 9 16! 

12 THE TENTH JUSTICE. 

by Brad Mdtzer 1 3 

13 COLD MOUNTAIN, by 

Chaifcs Frazier .. ... I 

14 SNOW J.N AUGUST, by 

Pete Ha mil I 14 R 

15 LOS ALAMOS, by Joseph 

Rjn«t._ - 2 


3 THE BIBLE CODE, by 

Michael Drosnm .. 

4 THE PERFECT STORM, 

tnr Sebastian Juneer 

5 BRAIN DROPPINGS, by 
Grorte Carlin .. 

b THE "GIFT OF FEAR, by 
Gavin de Becker 

7 MIDNIGHT IN THE 

GARDEN OF GOOD 
AND EVIL, by lohn 
Berendl 

8 JUST AS I AM. by Billy 
Graham 

4 THE MILLION AIRE 
NEXT DtlxUR. by Thwius 
J. Stanley and William D 

Danko ...... 

111 CONVERSATIONS 
WITH GODr Bock I. hv 
Neale Donald WaJscft 
II INTO THE STORM, by 
Tnm Clancy Kith Fred 

Franks Jr. 

. 12 WITHOUT A DOUBT, by 
Marcia Clark tvnh Teresa 
Carpemcr ] 

13 THE D1LBERT FUTU- 
RE. by Scwi Adams. . 

14 UNDfcRBOSS. h> fcicr 

Maas I 

15 CONVERSATIONS 

WITH GOD: Book 2. by 
Ncaie Donald Walsch I 


Tt IV DTTUMTbIMlM ,• 

Iteralo ^^ fcnbunc 


THK 9UHUTh USIia \FW>I11'ER 


VON FICTION 

1 ANGELA'S ASHES, by 

Frank McCtwn-. ... 

2 INTO THIN .AIR. by Jon 

Krokauer. — 


ADVICE. HOW-TO 
AND MtSCELLWEOl'S 

1 SIMPLE ABUNDANCE, 
bv Sarah Ban Brcaihnai.'k ' 

2 Eight weeks to 

OPTIMUM HEALTH, by 
Andrew Weil I 

3 K IDS ARE PUNNY . frimi 

"The Rcsie O'D.itncll 
Shu*" ... 2 

4 MARS AND VENUS ON 

\ DATE, by Inhn Grav 4 


By Sheridan Moriey 

huemuionui Herald Tribune 


serves of unexpected strength, and the 
powerful supporting cast members 
(Holly Aird, Neil Stuke, Jonathan Cul- 


ONDON— Once upon a time, lea') give it all they’ve goL This is an 
from roushlv the mid- 1 930s to unfashionable piece, but I can t avoid 


li 4 standbys of the West End was rather 
the family-closet drama. The 
usual form was to have rela- ■■.■a.i.ia 
lives assembled in the old fam- the at e r 
ily homestead for some kind of 
anniversary or maybe Christ- PCVI 0 ]( 0 
mas. All kinds of skeletons pMteW 
would then start tumbling out ' 

pf the closet; one son would be 
getting divorced, another would have that « 
gone bankrupt or to live with another for pe 
man. while upstairs an old and much theate 
loved family retainer would be ex- “Hea 
piling as a symbol of changing times, other 
Intriguingiy. the family-crisis drama Boy. t 
is back at the Old Vic. and Samuel his ea 
Adamson's “Grace Note” is in my Holid 


experience the first play ever to tackle 
Alzheimer’s in any real detail. The 
Grace of the tide (Geraldine McEwan 


acters would have had much 
jgaa more gentle critical appraisal; 
ter London still has real difficulty 
understanding or accepting new 
oYo plays from down under, and the 
i loss is ours. 

s y At the Apollo in Hammer- 

smith. a former movie house 
that seems to specialize now in shows 
for people who have never been to a 
theater. Sir Cliff Richard’s gruesome 
“Heaihcliff” is followed by yet an- 
other macabre tribute to the Bachelor 
Boy, this one a stage version of one of 
his earliest film musicals. “Summer 
Holiday" was the one about Cliff and 
the Shadows going around Europe on a 
London Transport bus looking for the 
action ("So this is France?” one of 


musically in his grave .as Darren ^ 
Day, an’ amazing young-Cliff look- 
alike, bares his teeth Hke some |rot- 
esque monument to hundreds of thou- 
sands of theatrical rubbish-collectors. 
But one might just as usefully review 
Madame Tussaud's for all the differ- 
ence a hostile notice or even 30 is going 

t0 Gnan incredibly ugly Day-Glo set, an 
endless gothic folly is slowly unveiled; 
when die bus gets to Austria, several 
people in Tyrolean hats and dirndls stair 
rocking and rolling in a musical number 
that has been not so much choreo- 
graphed as tortured to death, very 
slowly. The original musical team pf 
Peter Myers and Ronnie Cass have 
wisely removed themselves or else be en 
disappeared in Soviet fashion from all 
billing, leaving this as the only musical 
in town that has a cast and a director but 
apparently no writers of any kind. That, 
mind you, is exactly how.it looks. 


hr 



with wondrous eccentricity and heart- them says after staring for some tune at 
breaking courage) is an Australian op- a road sign reading "Paris: 20 km"), 
era freak obsessed with the memory of It’s a distinctly curious choice for a 


I N 1994, she was working on a Ber- 
ber-language film. "Machaho,” 
when the shooting was interrupted 
by fundamentalists who put up a 
fake police barrier to corner and in- 
timidate the crew. "We got the scare of 
our lives — our cameraman was French, 
and it was during the big anti-French 
operation. That’s when r decided to 
come to France. Not that I feel that much 
safer here: I've had threats on my an- 
swering machine. 

"That's why, in this play. I’m not just 
showing the problems in Algeria. I’m 
saying to French audiences. I'm show- 
ing you our fundamentalism, now let's 
talk about yours, let's talk about Le Pen 
and 'what goes on in France behind the 
belle facade — the festering racism in 
the suburbs, the ghettos.” 

Air El Hadj cannot go home easily and 
has little contact with her family. Re- 
cently, she returned discreetly, for her 
father’s funeraL Leila, the sister who be- 
came an actress, also emigrated to France; 
Faouzia, the director, works in Algiers. 

“This is a problem I face eveiy day: Is 
leaving home betrayal or is it cour- 
ageous? 1 have no answer. I know it’s 
hard to live in France, but to me it's less 
hard than to wait for a bullet. 

"You could say that by leaving. I've 
abdicated, but heroism today is not the 
heroism Che Guevera talked about. I'm 
another kind of activist — I have things 
to say. I couldn’t care less about politics 
or religion. I’m for the human party." 


Joan Sutherland nights in Sydney; now. 
30 years later, she is in unhappy Lon- 
don exile sujrounded by relatives who 
have their own lives to lead and. with 
one or two exceptions, are only really 


interested in what if anything the old er very 


stage show, given that a bus is not easy 
to simulate even on a revolving stage 
and that Richard had already made 
another movie musical, "The Young 
Ones,” set largely backstage in a rheat- 


as horrendous 


lady might leave them.- 
Much has been made of the fact thar 
this is a very intimate play thrust onto a 
main stage where there are indeed 
acoustic problems; but the drama, like 
its tide character, has considerable re- 


Laban's Apollo. 

Nobody has ever explained who 
Laban was, or why his premises should 
have been designated for a festival of 
unbelievably tacky British sing-alongs, 
bet I like to think of him spinning 


B RIEFLY, a couple of Amer- 
ican treats: At the New End in 
Hampstead, Sam Buntrock 
has directed a breathtaking 
and brilliant small-scale staging of 
Stephen Sondheim’s " Assassins' that 
is in many ways an improvement on the 
score's London debut five years ago at 
the - Warehouse, and at the Jermyn 
Street Theatre, Bob Sherman's oddly 
overlooked "Missing in Action” is a 
belated Vietnam homecoming drama 
about an ostensibly military family 
tom apart by an altogether suspect do- 
mestic patriotism; all it needed was a 
little more rime and money backstage. 


,;B0 n 


A Showcase of the Finnish Elite 


By George W. Loomis 


S AVONLINNA, Fin- 
land — Even before a 
performance begins, 
one senses that the 
Savonlinna Opera Festival’s 
place on the international cir- 
cuit is secure. 

The town, inland but with 
water virtually everywhere 
one looks, is a beauty. The 
audience assembles with an 
air of comfortable prosperity. 

And the venue for most per- 
formances is truly imposing: 
the sheltered courtyard of die 
massive 15th-century fortress 
known as Olavinlinna Castle. 

For all its glamour, though, 
Savonlinna remains very 
much a Finnish experience. 

Only 20 percent of its audi- 
ence consists of foreigners. 

The festival is-run by an elite O lav ini 
of Finland’s performing mu- 
sicians — the baritone Jorma Hynninen 
has been artistic director since 1993. 
Like their counterparts at the Finnish 
National Opera, they have seen to it that 
Finnish composers, who turn out new 
operas in staggering quantities for so 
small a country, are given their due. 

The composer Einojuhani Rauta- 
vaara, with nine operas to his credit, is a 
major player in this thriving industry. 
His latesr venture, “Aleksis Kivi” fol- 
lows his "Vincent” (as in van Gogh) by 
taking as its subject a creative artist. 



Olavinlinna Castle . the main site of the Savonlinna Opera Festival. 


premiere on July 8. the character gained a 
towering strength, as if to emphasize that 
Kivi’s artistry triumphed over his short- 
comings as a man. Here too Rautavaara's 
music, largely post-romantic in texture, 
but highly individualistic in its harmonic 
and melodic twists — often unsettlingly 
so — was at its most expressive. 

Rautavaara, who writes his own lib- 
rettos. fleshed out the story with a villain 
and a love interest. The critic August 
Ahlqvist (speaking role.) lambasted 
Kivi’s work at every rum. Lasse Poysti. 


the castle, but in the smaller, subterranean 
hall of the Retretti Arts Center. 

If "Aleksis Kivi” seemed directed 
especially toward the Finns, perfor- 
mances in the castle exerted a broader 
appeal. August Everding’s 1973 pro- 
duction of “The Magic Flute” remains a 
joyous experience, blessedly free of the 
Teutonic heaviness that sometimes 
weighs on Mozart’s opera. 


Aleksis Kivi may lack the universality of one of Finland ’s best-known actors, dis- 


the great painter but holds an exalted 
position In Finland as its "national 
writer," the man who dared to write in 
Finnish when Swedish was de rigueur 
for Literary expression. 

Operas about artists tend to be more 
reflective than dramatic, and it is through 
his monologues that the operatic Aleksis 
Kivi came most vividly to life. Unfor- 
tunately. the life in question was a short 
and tragic one. afflicted by alcoholism 
and eventually schizophrenia. Yet with 


patched the part with chilling malter-of- 
factness. 

Kivi's ambiguous relationship with 
his patroness Charlotta remained only a 
sketch, and Vilppu Ktijunen’s direction, 
elsewhere effective and to the point, did 
little to make it seem otherwise. But as 
Charlotta. the mezzo Eeva-Lissa Saar- 
inen admonished Kivi to mend his ways 
in firm, telling tones. 

Markus Lehtinen led what sounded 
like a well-rehearsed, smoothly coordin- 


L AST year's “Tannhaeuser" re- 
turned, again led by Leif Seger- 
stam and with Juha Hemanus’s 
production reworked but still 
puz z ling. Still, there was the chance to 
hear another attractive newcomer: Elisa- 
beth Mever-Topsoe, as Elisabeth, re- 
vealed a -creamy, well-modulated voice 
ideal for the more lyrical of Wagner's 
soprano roles. 

The festival runs through Aug. 4 and 
will include guest appearances" by the 
Kirov Opera. 


Hynninen taking the title role at the world ated performance . which took place not in 


George It Loomis is a St. Petersburg- 
hased writer on music. 


CROSSWORD 


ACROSS 

1 Sollpstst's 
preoccupation 
3 Harsh Athenian 
lawgiver 
io Employ a 
Singer 
13 Anjou, e.g 


leCasaba, e g. 

is BaH 

(arcade game; 

ie Heroine of 
Tennessee 
Williams's 
"Summer and 
Smoke" 


The Finance 
Merchants Group 


Offchore Commercial Banks 

Bahamas, Tel- t242i .194-7ITBQ 
Fax: i242l 194-7082 


it " Help 

Myself" (Four 
Tops hit) 

IB Phoenician port 
IB "Shut up!" 

22 broche 

(cooked on a 
SprtJ 

24 Coach 
Parseghian 

23 Iranian money 
as Lullaby start 
ai Bandleader 

Shaw 

32 They're In 
gafley banks 

33 SOW 

34 ‘Flow gently. 

sweet 

Bums 

3B Yemen's capital 
48 Game plan 

41 Fancy watch 

42 ‘Pipe down. 
Pierre!" 

4T Hurler Reynolds 
ol the 40's-SO's 
Yankees 
« Go (lor) 

*B Assist 
so Director's 
directive 

ss Amenhotep IV'9 

god 

sc Words repeated 
at the scan ot 
the "Sailor's 
Song* 

37 Like — -In a 
trap 

bo Bookie's 
bookings 

6i around 

(near) 

82 Rani's attire 
63 Come-ons 
B4 Mystery wnler 
Paretsky and 
others 

es Book after 
II Chronicles 


3 Berate 

4 German wife 
3 Composer 

Shostakovich 
B Supply with 
more varnish 
7 Astronaut 
Shepard 
B Rabbit 
9 Aware of 
to First U S space 
station 

11 In a spooky way 

12 Booboos 

IS Narrow furrow 
20 Myth 
2t City areas, 
informally 

22 Tnumphani 
cries 

23 Tackle box nem 
27 Secreted 

2 B Smash to 
smithereens 

29 Indochinese 
language 

30 Directional suffix 
34 Summer 

refresher 
as Shrlner hat 

36 Not worth a 

37 Much -filmed 
prison 

3B Radar's favorite 
drink on 
■r.A'S'H* 

3B Fired 

40 ’ a man 

41 Popular 
fast-load chain, 
Informally 

«2 Crimped as a 
precrust 



iNjOi JoniDan Schiratt&Kh 


e AVir York Times/Edited bv ff iU Short a. 


Solution to Puzzle of Julv 15 


43 T. £ and 
George 

44 Trifles: Fr 
43 Goddess cri 

wisdom 
4« Covers »ur 
crumbs 

47 Mideast's Gulf 
ol 


1 Healdi center 

2 Electric 


31 Revolutionary 
orator James 
52 Soul singer 
Hendry * 


m Pre-Sovier 
royarty 
*4 Let up 
se Timetable abtr 
39 Asiri. « Madnd 


annaacia dejid 

gsn soaaataa □□□ 

HHmgaEJEiEiQcag stun 

QQQEIEia 

™§ aa aannis 
uQu GJoaa aaaa 
aseHas soma 1 
□□aaaaniaaaaaa 
m manira aaaBaa 

□QgDB QE3I3 G3E!EiaEI 
QpjDOHQ aaiaaa 

iQEBBaonnaaQ 
pJgppEaU OE3CI 
pbb BBatniacia hhb 



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SPONSOR! !) PAGl: 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. JULY 16. 1997 


PAGE 11 


% in his grave as n » 

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»res his iceih liE c ' lfl I'M. •: 
rohund^SHi 
theatrical rubSKh ' ' 

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to»aenoii«or« J e " J'Jilt, ! 

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? been nor so niu^ 1 "“«*«! 

3_as tortured i,-, .j J\. lhur s<M ’ 
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removed themselves V' ' K\ 

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nSondheim>-A N ; a ;^«f?. ; * 

in\ w ay s an impr. •>. .. 

London debut " , ’ t 

arehouse. and V-’ v. 
Theatre. Bob S.iernV.T ' T'' 1 
>ked “Missing in Aai„ n ‘ . 

• * i<?5r,ajn hon’ic..!., • % . ■ 

an ostensible T :J 
an by an alios ?!«’ _-■ 
patriotism: ali :: J/ 

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The Lisbon stock exchange has achieved standards of operating efficiency, organization and transparency that equal those of Western 
Europe’s largest and most sophisticated financial markets. 

Lisbon Bourse Goes International 


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Lisbon has become one of the best-performing equity' markets in Europe . 


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T he sound growth and 
successful moderniza- 
tion of die Lisbon 
stock exchange (Bolsa de 
Valores de Lisboa), one of 
the best performing equity 
markets in Europe, has been 
internationally recognized by 
the official upgrading of the 
Portuguese bourse from an 
emerging to a developed 
European market. 

Developed market 
Lisbon is to be included in 
Morgan Stanley's developed 
market indices starting in 
December, in recognition of 
its achievement of standards 
of operating efficiency, or- 
ganization and transparency 

that equal Europe’s biggest 
and most sophisticated finan- 
cial markets. 

The BVL is being pro- 
moted to a developed market 
against a background of 
buoyant growth for the Por- 
tuguese economy as a whole 
and for the Lisbon stock mar- 
ket in particular. 

The market's main share 
price index, foe BVL-30, 
gained 45 percent in foe first 
half of 1997. This is one of 
the best stock market per- 
formances in foe world this 
year and comes on top of a 
34.8 percent rise in 1 996. On 
July 2. foe BVL-30 hit a new 
record high of 3241 .58, up 
49.8 percent since December 
31. 1996. 

High volume 

At foe same time, Lisbon's 
trading volume and market 
capitalization have expanded 
-‘strongly. ‘Daily trading 
■volume rose to a historic high 
of 65.5 billion escudos ($372 
million) on June 1 7. Average 
daily volume was 17.1 bil- 
lion escudos in foe first 
quarter of 1997,’ almost 
double the level of a year 
earlier. 

In June, following a global 
offer of 30 percent of Elec- 
tricidade de Portugal (EDP), 
foe national power utility, 
Lisbon's total stock market 
capitalization rose to 5.7 tril- 
lion escudos, 50 percent 
higher than at the end of 
1996. 

“This evolution reflects 
the strong and sustained rise 


of most listed stocks, as evid- 
enced by the increase in foe 
BVL-30 index, which has 
been reaching consecutive 
historical highs.*' says Jose 
Carlos Pestana Teixcira. 
chief executive of foe BVL. 

“But ir is also a result of 
the interest shown by foreign 
investors in Portuguese fi- 
nancial assets. The strong al- 
lure of the Lisbon market for 


tuguese economy as a whole. 
Portugal is enjoying its most 
robust period of economic 
expansion since the mid- 
1980s. when the country 
joined what later became the 
European Union. Figures re- 
leased recently by the Or- 
ganization for Economic Co- 
operation and Development 
forecast strong gross domes- 
tic product growth of 3 J per- 


central bank, forecasts GDP 
growth of 3.0 percent to 3.75 
percent in 1997. The bank 
has also revised its estimate 
of GDP growth in 1996 up- 
ward to 3.3 percent, follow- 
ing a surge in export demand 
and domestic investment in 
foe second half of the year. 
Investment will continue lo 
drive growth in 1997, in- 
creasing by 5.5 percent to 7.5 


THE STOCK MARKET 


Modernization and Sweeping Reforms 

With its new headquarters and upcoming classification as a developed market. BVL looks to the future. 


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The Lisbon stock exchange b on-foie at http-JwwwJjvLpL 


foreign investors is partly foe 
outcome of a number of sig- 
nificant privatization opera- 
tions. which have further re- 
inforced the diversification 
of foe Portuguese market" 

Foreign investors 
Overseas investors, attracted 
to the Lisbon stock exchange 
by highly successful public 
offerings of companies such 
as EDP, Portugal Telecom 
and the cement group Cim- 
por. are being favorably im- 
pressed by what they find: a 
modem, technologically ad- 
vanced stock exchange that 
equals foe best in Europe for 
efficiency and transparency. 

“Foreign investors* are in- 
creasingly looking at Por- 
tugal as a developed equity 
market with strong growth 
potential." says Mr. Pestana 
Teixeira. “Liquidity is in- 
creasing strongly, and 
turnover is growing more 
than twice as fast as market 
capitalization . " 

The Lisbon equity mar- 
ket's performance reflects 
foe sound growth of the Por- 



u*’ ... 

■trk Tiirtf ' f 



cent this year, rising to 3.4 
percent in 1998. 

Meeting Maastricht 
Buoyant economic growth is 
being achieved against a 
background of felling infla- 
tion and fiscal discipline. 


‘Foreign investors 
arobtcroasmgjy 
looking at 
Portugal as a 
developed erpdty 
market with strong 
growth potential’ 

Leading international eco- 
nomists share the center-left 
Socialist government’s con- 
fidence that Portugal will 
meet foe Maastricht conver- 
gence criteria for economic 
and monetary union, with a 
better performance than any 
other Southern European 
country. 

“ Portugal has achieved re- 
markable macroeconomic 
progress,” says a recent re- 
port by Goldman Sachs. “If 
EMU starts on time in Janu- 
ary 1 999, Portugal is a strong 
candidate to be among foe 
countries participating from 
foe beginning, regardless of 
what other Southern Euro- 
pean countries do." 

The Bank of Portugal, the 


percent, compared with 6.1 
percent last year, the bank 
says. 

Low inflation 

Average annual inflation, as 
measured by the EU's new 
harmonized consumer price 
index, is forecast to fell to 
2.25 percent in 1997 from 2.9 
percent last year. This will 
ensure that Portugal com- 
plies with the inflation cri- 
teria for EMU, the central 
bank says. Inflation will drop 
to below 2 percent in 1998, 
according to foe bank. This 
would conclude a process of 
disinflation in which year- 
on-year inflation has fallen 
from 14.4 percent in October 
1990 to below 3 percent this 
year. 

Says Jose Lemos. chairr 
man of foe Lisbon stock ex- 
change Association: “The 
good performance of Por- 
tugal’s main macroeconomic 
indicators, based on sus- 
tained GDP growth and on 
decreases in interest and in- 
flation rates, has helped lead 
to a substantial increase in the 
trading volume of the Lisbon 
stock exchange and to ex- 
pressive rises in share and 
bond indices. 

This process has been 
furthered by a massive influx 
of foreign funds invested in 
Portuguese securities and a 
dynamic privatization pro- 
gram.” • 


T he remarkable development and 
growth of the Lisbon stock ex- 
change t Bolsa de Valores de Lis- 
boa) is based on a solid foundation of 
sweeping operational and administra- 
tive reforms. The Portuguese bourse's 
modernization within a long tradition of 
excellence was embodied by foe BVL’s 
recent move into a state-of-the-art com- 
plex in a new financial center taking 
shape in Lisbon, after operating for 225 
years in an elegant 1 8th-eentury build- 
ing in the heart" of the city. 

Potent symbol 

“The new' premises are a symbol of foe 
BVL’s commitment to maintaining a 
confident attitude toward the future and 
to providing the market with everything 
it needs to develop strongly and ef- 
ficiently.” says Jose Carlos Pestana 
Teixeira. chief executive of foe Lisbon 
Stock Exchange. 

Reforms over recent years include 
the adoption of a continuous trading 
system, a computerized national stock 
registration house and a new admin- 
istrative law that governs insider trad- 
ing. company disclosure rules and 
many other areas. “Modernization has 
had a very productive impact,” says Mr. 
Pestana Teixeira. “ Investors now have a 
clear overall picture of the Portuguese 
market and foe liquidity of most se- 
curities has grown substantially." 

He adds: “The recent launch of the 
Oporto Derivatives Exchange (BDPi 
also represents a necessary and wel- 
come development for foe Portuguese 
capital market Derivative products will 
enhance the participation of foreign in- 
vestors in different segments of our 
market. As hedging instruments, fu- 
tures and options will allow investors to 
enlarge their positions in Portuguese 
assets.” As a result foe BVL expects a 
further significant increase in foreign 
interest. 

An initial public offering of Elec- 
tricidade de Portugal, the national 


power utility, in June and secondary 
global offerings of Cimpor. foe coun- 
try’s biggest cement producer, and Por- 
tugal Telecom last year set new' records 
for investor demand. 

The EDP sale. Portugal's biggest pri- 
vatization to date, was 37 times over- 
subscribed by retail investors and 25 
times by institutions. More than 
772,000 individuals, about 10 percent 
of the country's adult population, ap- 
plied for a total 3.6 billion shares. The 
offer raised 3S6 billion escudos (S2. 1 
billion). 

Ambitious sell-off program 
In addition, the Portuguese government 
has unveiled an ambitious sell-off pro- 
gram for 1998-99 that includes global 
offers of some of foe country’s biggest 
companies. These privatizations will 
provide further stimulus to the buoyant 
Lisbon stock market and attract new 
foreign investors. 

The government plans to raise 800 
billion escudos from the privatization of 
17 companies in 1998 and 1999. The 
new program brings total estimated pri- 
vatization revenue for the government's 
four-year term, due to end in October 
1999. to more than 1.7 trillion es- 
cudos. 

“The privatization program, carried 
out mostly through the stock exchange, 
has played an important role in foe 
growth of market capitalization and in 
foe diversification of the biggest listed 
companies," says Mr. Pestana Teixeira. 
“As a result of the government’s de- 
cision to emphasize the role of the stock 
exchange in this process, we have de- 
veloped substantial know-how in foe 
area of privatization and like to consider 
that we are making an important con- 
tribution to foe success of the pro- 
gram." 

The privatization of industrial 
companies and utilities has ended the 
dominance of foe BVL by the financial 
sector, increasing foe number of in- 


vestment opportunities. Initial public 
offerings of Portucel Industrial, one 
Europe's leading paper pulp compa- 
nies. and Portugal Telecom in 1995 
contributed to reducing the weight of 
the banking sector in foe market from 
41 percent in 1994 to 33 percent at foe 
end of 1995. 

Balanced structure 

Only four years ago. the weight of the 
financial sector was in excess of 60 
percent Recent and forthcoming issues 
will contribute to a bother reduction of 
the importance of foe financial sector 
and a folly balanced market structure 
that accurately reflects the underlying 
economy. 

Private-sector offerings are also con- 
tributing to the growth of the BVL. A 
global offering of Telecel. a fast-grow- 
ing mobile telephone operator, in Por- 
tugal's biggest private-sector IPO {ini- 
tial public offering) to date, attracted 
strong interest last year. 

Another positive development is the 
move by Portugal's big banks to build 
up their mutual fund base as a means of 
increasing income from fees and com- 
missions as net interest margins fall. 
Greater investment in equity by these 
mutual funds, both in volume and as a 
percentage of total funds under man- 
agement. is expected. 

“Through its investors, the Lisbon 
stock exchange provides a source of 
funds for companies that have an in- 
creasingly relevant role in the Por- 
tuguese economy. Its importance can be 
seen in the feet that Lisbon’s market 
capitalization represents approximately 
20 percent of Portugal's gross domestic 
product,” says Mr. Pestana Teixeira. 

“The Lisbon stock exchange has also 
played what we believe to be a sig- 
nificant role in the promotion of Por- 
tugal to foreign investors, through road 
shows and other events, as well as 
through direct contacts and the dis- 
tribution of in formation.'' he says. • 



Lisbon’s main share price index gained 45 percent tn the first half of 1997, aie of the worto’s best stock market performances. 


Portugal’s Capital Market Is Being Upgraded From 
An Emerging to a Developed Market 


Soiutii’^ 


ri . ru" !c 



. . ,u I- The Balsa deV&knsde Lisboa has relocated to a new, i 

• lf - theert complex hi Lisbon's developmg financial center. 




“Portugal Update: Part VI” 
wns produced in- its entirety by the Advertising Department 
of the International Herald Tribune, 
h was sponsored by The Lisbon Stock Exchange. 

Writer: Ken Pottihger, based in Lisbon. 
Program Director: Bill Mahder. 


Capital International Perspective, foe Geneva-based man- 
ager and calculator of the MSCI (Morgan Stanley Capital 
International) market indices has announced that the Por- 
tuguese capital market will be upgraded from an emerging 
to a developed market 

ft is to be included in the following MSCI developed 
market indices beginning on December 2, 1997: MSCI 
EAFE (Europe, Australasia and the Far East), MSCI World, 
MSCI Europe and MSCI Europe ex-UK. 

,r This change marks the recognition that Portugal’s level 
of overall economic development, its macroeconomic and 
financial policies, as well as its equity market charac- 
teristics are now approaching or are similar to those of its 
neighboring countries," according to CIP. ‘‘Portugal’s fi- 
nancial markets are well organized and moving along the 
lines of the majority of developed markets in terms of 
transparency and efficiency.” 

Portugal will be the 15th market to be included in the 
MSCI Europe index, with a capitalization in April repre- 
senting 0 . 6 -percerrt of the total, the same as that of Ireland. 
The reclassification was widely expected following a series 
of large global offerings over the past two years, mainty 
privatizations, that have increased the market capitaliz- 
ation, liquidity and diversity of the Lisbon market. 

The transition to small mainstream market should sub- 


stantially increase trading volume in Lisbon. International 
funds that have not previously invested in Portuguese 
shares will almost automatically allot part of their portfolio 
in accordance with the new weightings. 

Many used the June initial public offering of Electricidade 
de Portugal, the national power utility, as their erttry point. 

EDP, the biggest company listed on the BVL. has brought 
greater balance to the Lisbon market. It is expected to 
account for about 8 percent of total market value by the end 
of 1997. After being dominated by banks for a long period, 
the Lisbon market has steadily expanded to include more 
utilities and industrial companies, reflecting the underlying 
economy more accurately. 

Regulatory environment In line with Europe 

Lisbon's reclassification as a developed market was de- 
termined by the BVL's size in terms of market capitalization 
and trading volume, as well as by the balance of listed 
companies and its regulatory environment. Total market 
capitalization has grown from $8.4 billion in 1987 to more 
than $32.2 billion. 

Security market authorities are also completing the 
regulatory liberalization and modernization of the Usbon 
market. “Over the past few years, Portugal’s legal and 
regulatory environment has moved in line with other Euro- 


pean markets in regard to reporting, information, dividends 
and several other important areas,” says a leading Lisbon 
analyst. 

Attracting new Investors 

Eariierthis year, the suspension of stocks for up to four days 
for dividend payment was abolished. Dividends are now 
paid before trading begins, and no suspension in the trading 
of the stock is required. Short selling — the selling of stocks 
not owned in the hope of buying them later at a lower price 
— has also been authorized. This, together with the open- 
ing of a “repo” market, are important stimuli forthe Oporto 
Derivatives Exchange, whose main contract, the PSf-20 
stock index, has helped attract new investors to the Lisbon 
cash market “The legal framework of the Portuguese 
capital market has been substantially enriched." says JosG 
Lemos, chairman of the Lisbon Stock Exchange Asso- 
ciation. "The publication of legal regulations allowing the 
Oporto derivatives market to begin operation, the regulation 
of margin account transactions and the setting up of the 
Lisbon Stock Exchange Association Guarantee Fund are 
among the leading measures. This set of new laws has not 
only paved the wayforthe development of new products and 
markets but also strengthened the security of the different 
parties intervening in the Portuguese stock market” 










PAGE 12 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 




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BUSINESS/FINANCE 



WEDNESDAY, JULY 16, 1997 


PAGE 13 


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I* IRQ ■ 'UpDilM ■ 






EU -Boeing Talks Stall 
As Trade Fight Looms 

Brussels Demands More Concessions 


BJkm Miwr 

Boyd Kosiyabong, left, and Kamol Sukosol Clapp, right, try to make waves in Thailand with rhythm and blues, hip-hop, rap and trance music. 

Small Labels Get Big Play in Asia’s Music World 


27-30, 1997 


DIETETIC ASSOCIATION u£ 

Meeting and Ethtbirinn 

: iteORnaiion arc rs>?LT.r ■■ • n ,, i ; 
nnwr. nric t\ ar:--c - ’ '"" L 

:re rhar 75 ej’ccarcrji ■*.» 

7 5 cjLhieitr.; 

nacr es or oar a*vf» sue: *«im B 
M««nghtorg: via fax ar.MMwW 
iing 312-89944MD, eu. 4*nf». 

Massachus etts, u.sa 


CONFERENCES & EXHIBITIOKS 
[ARISON FAX: +33 1 41 4393: 


By Richard Covington 

Special lu the Herald Tribune 

HONG KONG — When Bakery In- 
ternational Co., a small independent 
record label in Bangkok, signed four 
local university students several years 
ago to form one of Thailand's fust 
alternative rock bands, it helped usher 
in a new sound and quickly sold 
600,000 records. 

Other tiny companies quickly 
cropped up, hoping for. similar success 
in one of the world's fastest-growing 
markets. In the process they helped 
popularize types of music that had been 
relatively unfamiliar in Asia, such as 
hip-hop, rhythm and blues and rap. 

Major record companies, faced with 
slow growth in areas such as Europe and 
the United Stales, took notice and began 
producing domestic artists, not just in 
Thailand but also in other Asian markets 
such as Taiwan and the Philippines. 


Now, after years of watching the 
majors buy out small, local labels 
across the region, Asia's independents 
are fighting back — signing popular 
domestic singers, starting their own 
music video television operations and 
branching out into film production. 

While record sales in the United 
States and Europe grew by 4 percent 
last year, Asia showed 9 percent 
growth, according to figures compiled 
by the International Federation of the 
Phonographic Industry, a London- 
based industry group that tracks record 
sales around the world. Revenue 
jumped 39 percent in Thailand, 28 
percent in Taiwan and 16 percent in the 
Philippines. 

Overall, Asian revenue accounted 
for $9 billion, or around 23 percent, of 
the $39.8 billion recording business, 
according to the federation. In a region 
where more than half the 1.75 billion 
population is under 25 years old, the 


prospects for a continuation of this 
kind of growth are strong. 

But as global giants such as Sony 
Coip., EMI PLC. BMG and PolyGram 
NV push into the region, independent 
companies such as Bakery, Taiwan’s 
Rock Records and Universal of the 
Philippines (not related to Universal 
Records in the United States) complain 
that their survival — along with that of 
the new types of music they have helped 
popularize — is being threatened. 

"The market is getting tougher for 
independents due to the increased mar- 
keting money the major international 
labels are pumping into the region," 
said Joseph Lee. a Taiwanese music 
producer. 

In the Philippines, independents 
have mounted a campaign to combat 
encroachment by major labels in a mar- 
ket where 45 percent -of the music is 
produced by domestic artists. Faced 
with a summer opening of a Tower 


Records retail outlet in Manila, a con- 
sortium of independent labels has 
threatened 10 file civil and c riminal 
suits if the store imports products from 
overseas distributors, contending that it 
is illegal for stores to import records 
independently of the local distributors. 

"when a megastore brings in in- 
ternational music from its back cata- 
log, that undercuts domestic artists," 
said.Danilo Olivares, president of the 
Philippine Association of the Record 
Industry, a Manila-based organization 
representing some 30 local record pro- 
ducers. "Independents get shoved 
aside by the majors on the radio and in 
record stores, where they undercut our 
prices and pay for shelf space." 

Keith Cahoon, Far East managing 
director for Tower Records, said that 
such imports were not illegal and were 
necessary for the company to maintain 

See RECORDS, Page 20 


Y:»js C==0:j£ 


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COMMERCIAL £ 
REAL ESTATE] £ 




Technology Stocks, Led by TI, Pace Wall Street Rise 


GmpkdbfOtrSuffFmmDbp&rba 

NEW YORK. — Technology share 
prices climbed on Tuesday, led by a 
sharp gain from Texas Instruments Inc., 
which surged to record levels after the 
company reported a 228 percent rise in 
second-quarter profit on high demand 
for its specialized semiconductors. 

Technology shares traditionally have 
lagged the market during the slow trad- 
ing days of summer, when news of slack- 
ening computer demand has dragged the 
stocks down, as it did a year earlier. 

But in three of the past four years 
technology stocks have outperformed the 
broader market. And on Tuesday, tech- 
nology stocks stormed ahead, sending 
the technology-heavy Nasdaq composite 


index up 1823 points to 1,542.1 l.aninth 
consecutive record. On Monday, the in- 
dex finished at 1,534.57, its eighth con- 
secutive record close. In contrast, the 
Dow Jones industrial average gained a 
miserly 1.16 point on Monday, closing at 
7,922.98. On Tuesday, the Dow dosed at 
, 7,975.71, up 52.73. 

Part of the reason for the surge in the 
technology sector, analysts say, is re- 
newed confidence in the earnings pros- 
pects of computer makers. But there is 
also a growing recognition among in- 
vestors that technology has helped 
foster huge productivity gains. 

"We’re a knowledge-based econo- 
my in a global marketplace,” said Mi- 
chael Moe, an analyst at Montgomery 


Securities. "And PCs are the cars of the 
1990s. They’re part of the productivity 
revolution. And all this has dramatic 
implications for the competitiveness of 
a company.” 

With the economy flourishing with 
veiy little inflation, the prospects in the 
technology sector are brightening sub- 
stantially. 

"Technology as a percentage of the 
economy is growing, and that’s a very 
critical factor," said Mona Eraiba, an 
analyst at Gruntal & Co. "So you're 
going to see that reflected in the fi- 
nancial markets." 

TI’s quarterly net profit rose to $249 
million from $76 million in the Like 
period last year. Earnings from con- 


tinuing operations rose to $224 million 
from $41 million in the year-earlier 
period. The surge reflects the com- 
pany's decision to sell its defense busi- 

See STOCKS, Page 14 


By Bany James 

In ternational Herald Tribune 

Antitrust talks between Boeing Co. 
and the European Commission stalled 
Tuesday, with no sign of a breakthrough 
that could avert a serious trade dispute 
between the United States and the Euro- 
pean Union. 

The commission said late Tuesday that 
Boeing had failed to address its concerns 
regarding the proposed acquisition of 
McDonnell Douglas Corp. and that it 
frilly backed the tough stance taken by its 
antitrust chief, Karel Van MierL 

"Boeing has so far not agreed to 
measures which would meet these con- 
cerns," the EU’s executive agency, 
said. It said it would not approve the 
acquisition, currently valued at $15.5 
billion, “unless the legitimate compe- 
tition concerns of the commission can 
be met and genuine choice maintained 
for purchasers of aircraft worldwide/* 

The commission will decide on the 
issue July 23, but officials insisted that 
Boeing had to come up with a more 
acceptable range of propositions im- 
mediately to allow time for consultation 
with the 15 member governments. 

The commission objects to key as- 
pects of be Boeing-McDonnell Douglas 
deal, which it c laims will give Boeing a 
dominant advantage over Airbus Indus- 
trie, the European aircraft consortium. 

By taking over McDonnell ’s defense 
activities, the commission argues, Boe- 
ing will be in line for U.S. government 
research contracts and will benefit from 
military patents and licenses. 

The EU argues that this would violate 
the 1 992 agreement on new aircraft sub- 
sidies between Europe and America. 
The United States has rejected any such 
parallel 

The commission alleges that Boeing 
already has taken advantage of its dom- 
inant market position by signing 20-year 
exclusive deals to supply planes to three 
of America’s top airlines. Airbus’ chair- 
man, Jean Pierson, says this effectively 
locks his company out of an important 
segment of the market for the next half 
century — 20 years for the deals to run 
their course plus the 30 years it will take 
the planes to wear out. 

The commission’s concern extends 
equally to three areas: dominant market 


share, exclusive deals and defense spin- 
offs. 

A commission official said there had 
been movement on only one of those 
issues, but be did not say which one. 

The commission cannot prevent the 
acquisition, but officials said it could 
fine Boeing and its partners, just as pen- 
alties can be levied on European compa- 
nies operating in the United States mat 
breach American antitrust regulations. 
However, U.S. officials threatened that 
any such fines would be viewed as an 
illegal tariff, which could lead to Wash- 
ington imposing trade sanctions on 
products from EU countries and protest- 
ing to the World Trade Organization. 

Joel FUein, the Justice Department’s 
antitrust chief, told EU officials Sunday 
that the U.S. government would stand 
squarely behind Boeing. "U.S. interests 
are implicated by the merger on both the 
defense and civilian side," he said. 

Boeing has hundreds of European 
suppliers and its senior executives 
warned at the recent Paris Air Show bar 
antitrust action by be commission 
could have heavy consequences. 

Boeing also argues that a takeover of 
McDonnell Douglas, which would give 
it some 70 percent of be market for 
civilian airliners above 100-seat capa- 
city, does not fundamentally change the 
situation since McDonnell has virtually 
run out of orders for such aircraft. 

Boeing’s stock price rose $1 to 
$58,125 in New York, and McDonnell 
Douglas’s rose $1,125 to $73.9375. 

■ House Panel Plans Hearing 

The chief executives of Boeing and 
McDonnell Douglas plan to testify about 
be proposed combination of the two 
companies next week before a congres- 
sional panel, which will also ask a Euro- 
pean Union representative to explain its 
view of the transaction, Bloomberg 
News reported from Washington. 

The bearing is planned for July 23, 
when EU regulators are scheduled to 
vote on whether to endorse Boeing’s 
acquisition of McDonnell Douglas. 

* ‘The goal is to learn more about be 
merger and what it means for civil avi- 
ation in this country, and competitive- 
ness in be international" aviation mar- 
ket. said Jim Coon, a staff member of be 
House Transportation Committee. 




Asians Fail to Contain Currency Fallout 


We 


Global Private Banking 


SPECIALIZE IN 


..... 




By Philip Segal 

Special to the Herald Tribune 

HONG KONG — As Asian curren- 
cies have come under attack tins month, 
there has been hardly a mention of be 
high-profile series of agreements struck 
three years ago among the region's cen- 
tral banks, which had pledged to defend 

Tokyo prepares aid for states whose 
currencies have fallen. Page 20. 

each other's currencies against spec- 
ulators. 

In the last two weeks, wib their 
neighbors standing by and watching, 
Thailand, be Philippines and Malaysia 
effectively ' devalued their currencies. 
Central banks in bose coon fries decided 
that high interest rates and dwindling 
foreign reserves were no longer worth 
be battle to. defend their exchange 
rates. 

Tn Indonesia, which has been car- 
rying out a long-term, steady devalu- 
ation of the rupiah, be central bank has 
widened the currency's trading range to 
12 percent* from 8 percent, hoping to 


avoid a narrow, easily hit target for 
speculators. 

The failure to take more concerted 
action to defend be Philippine peso, in 
particular, has dealt "a big blow to 
confidence,” said John Seel, an econ- 
omist at Bear Steams. 

“If you’d had Hong Kong, Singa- 
pore, and be Bank of Japan involved, it 
would have sent a very strong message 
to be market. 

“There is something to be said about 
drawing a line in be sand,” he added. 

[Taiwan's central bank is willing to 
help Thailand, the Philippines and other 
Southeast Asian countries fight spec- 
ulation on their currencies, Agence 
France-Presse reported Tuesday from 
Taipei, quoting the official Central 
News Agency. 

[Deputy Governor Shea Jia-dong told 
be news service that Taiwan would 
provide whatever assistance was nec- 
essary to help bose countries stabilize 
their markets, provided they signed bi- 
lateral financial cooperation agree- 
ments wib Taipei.] 

The currencies were not supposed to 
fall in such swift order. 

After be Mexican financial crisis in 


early 1995, 11 regional economies 
formed a network of bilateral repur- 
chase agreements, in which be parties 
agreed to buy U.S. Treasury securities 
from be country whose currency was 
under attack. 

Why, ben, was so little effort ex- 
pended this year in the face of such 
currency instability? 

Most economists seem to agree that 
Asia's central banks saw that bey 
would have been fighting a losing battle 
in taking on currency speculators in 
view of dwindling foreign reserves in 
be countries under attack. In addition, 
Asia's currencies tend to come under 
attack in clusters. 

One possible problem wib activating 
the agreements was that the Philippines 
may not have had enough Treasury pa- 
per to swap wib its neighbors. 

A more important issue is wheber 
Asia's currencies were overvalued to 
begin with. If so, these devaluations 
may not have been such a bad thing. 

"The time you want to use these 
repurchase lines is if you feel the pres- 
sures are completely unfounded,” said 
J. Donald Hanna, an economist at Gold- 
man Sachs. 



CURRENCY & INTEREST RATES 








:.\v 




f- . 


Cross Rates 


London (to 14 
Madrid in. 
Mftm UW 

Hew York ft) 

Parts id 

Tokyo IU 

Toronto U 

Zurich U 

1 ECU U 

1 SDR 13 

dosings to Amok 
PM. amt Toronto i 
tt 7b bar one pot 


I djl F.F- Urn on BJ. If. Tin CS tarts 

UK 1328 SJD4 R1W — USB* IJ7B 1254* 14795 UJi’ 

OM SLM75 ill 7 1IW* 1824 — 25.11 83® 2435 243 

I® _ um 0302* US' 12147 1.505' 13125 1.1W 

— ms wmdu mom xits fUt tan noasi 22935 2 su» 

JSiKT 1428 24J56 834* 7480 4M WL733 72251*11058 — 

23420 nJO 28481 — 84155 CM 1.W25 1UH U7U5 1134 

14775a U92 48475 IMLfl 2371 37.1B LOB 11545 1304 151345 

H211 13K3 — 13474* 239 MOS «W 539*4* 4304 448* 

19243 041 1085 0454 5450 11*11 77SS — ***4 0258 

22025 67*59 022B 08W OdB 63709* 09» M8»* MW 

248 08211 0209 QMS* 0229 1975* — 12772* 1395 09JB 

(4553 13814 44905 192490 2231 AKt 14253 U4B1 15181 lOOT 

08181 247K 83544 240419 22844 51.1415 204 15730 18899 208487 

onUndoaMSanP^tBia^oaAaan^lne^aenJer&NewYonai^ 

a at 3 PM. 

tk Tot*Tref»doaBO’tMBBftoa/tQ-K*<7oote&NA--ntfovafial>ie. 


Ubld-Ubor Rates J*yi5 

Sarin French 

Dota- D-Mark Rune Stott* Frame Yon ECU 

1 -north 59W-5^» Z'Vb-Sto lVn-lVa Wte-Wa 3V»-3¥» Vi- 4V» - 4Yu 

3-month SW-5V4 7*. 3** 1VH-19W 644-7 314-3% *V- V» 4M-4U 

6- month S*i.-5 I Va 2Vk-3to Uk-lVi 6>*i-7V4 3**-3W «M*-4*h 

1-year S M-6 3VW-3Yn IVi-IW 7Vi»-7Wi 3W-3Vi 4V8-4M 

StxffCPK Reuters Untfs Bonk. 

Kates oppBaMe to Interbank deposits of SI mHOon minimum (aretp/Maal). 


Other Dollar Values 

Currency Pars C iw iiaq i 

Argent, pen 0.998* Creek true. 

AwtraBnS 1-3589 Hoag KangS 

AastrHnsdL >2431 Kong-teM 

Brnxareal 1M Indian repea 

CMntscyan &321 Into. rupiah - 
Czech kanare 34.16 I risk C 

Dttrtsh krone 6J305 tsroaA shaft. 

Egypt, pound 1393 Kmdfcw 

Fin. markka 53996 Malay, ring. 


Forward Rates 


Conwy 
UmLpesa 
K. inlands 
NaretkraM 
PMLpaso 
PaUshzMy 
Port, escudo 
Ross rafale 
Small rival 
5tng.s 


S.Afr. rand 
S.Kor.won 

Sued, krona 
TWviaaS 
ThaikaM 
TUTthb Bnt 

UAE dirham 

Yatraz. botft. 




Comeey xukr MMoy swoy Currency 3May imoy 90-doy 

Pound SlHttsg IZB33 14815 1.6797 Joponmeyw tlS-W I’Hl 

Caradkmdolw 1.3641 0617 0595 SMtsfrmc 1.4665 1<4614 1.4562 

DoitadMEat 1.7916 0879 1.7B42 

Sources.- Bmt (Amsterdam: maosuez Book (Biussetsk Bonca&MiMK^IMl"" 

(MRonij Banquette France (PortskBcn* of Tok/oMttsubistdfTakra); 


Key Money Rates . 

Unflad States Obm Prey 

Discount ruta 5.00 510 

Prfanareta 0V6 8M 

Fadaralflmds sr» 

W-doy CDs doMare 541 A61 

inHfcry CPdadara SJi ss\ 

3 montt Tratowy b9 5 JO &0Q 

1-yaor Treasury MB 5J4 524 

X yinr Treasury MB 5L90 5.90 

5-yaarTraaaaryiwte 6.15 6.14 

7-yeor Treasury net* 6.19 6.19 

1 6-year Treosuryoota 625 624 

Srtyanr Treasury bad 654 654 

Merits Lynet 30-duy HA 5J>7 5JJ7 


050 050 
046 050 

054 060 

053 069 
067 073 

257 256 


450 450 

359 3.10 

111 3.13 

015 3.13 

324 119 

542 558 


Discount rate 
Call manor 
l-mcnth krtathaaft 
Srinontt jntwfaanft 
4 m an t h Methrek 
10*year Gwrt bond 
Gemiaay 
Lombard rat* 

COR manor 

1-maatfa aderhank 

3-aontb mtmfaank 
Orinantti iatefaank 
lOyearBand 


Britain 

Book bos* rat* 6V4 644 

CoS money » 6%k 

l-a«ntt bdHhank 6V4 64* 

3-montb krtarkaak fttw* 64% 

6-montk krimhonk 71k 7M 

Ifrycnrew 7.11 7.08 

Pranca 

I n l o nranaon rule 110 3.10 

Coamanoy 3*W 

1 -montt mtethm 3Va 3to 

3HUM*h Wortw* 3M 346* 

6-atanHi Merttnn k 3*w 34k 

10-year OAT 549 540 

Sown*-- Heaters, BJoombom. MenfO 
Lynch, Bank at To kyo- tkltsuhiknl. 
CunMnrTMrrir. CmdH Ljniawlt. 

G0,d AM. PM. Of* 

Zorich NJV. 32000 —150 

London 31950 31925 -1.95 

Mew York 320 20 319.00 -150 

UJ, dattns per «we. London atpoal 


RELATIONSHIP BANKING. 
THE LONG-TERM KIND. 


In this age of electronic mail and digital 
everything, private banting by Republic is still a 
matter of personal relationships. 

Webel ieve, and have always believed, that our 
number one job is to build a close, enduring 
relationship with each private banting client. 

In fact, it’s one of the main reasons for 
iieaJauarU'r* ,-f topuMk Republics success, worldwide. 

Satinniil lltiiik .«/ i\»n- Irirfc l 

i. umm ..i. <« i .-r-r-. ^ a Republic private banting client 

you have your own personal Account Officer, someone 
you can count on to loot after your interests. He's 
there to evaluate investment opportunities, warn you 
against pitfalls, and mate certain your instructions 
are carried out to the letter. 

It is a long-term relationship based on genuine 
concern and commitment - the rare combination 
that mates Republic a truly one-of-a-tind bant. 



3.10 no 
3*W 3V* 

3V*. 3tt 
3V, 3Vm 
3Vk 3H6 
549 540 

vn. MecrHl 


VarlJ IhfiiJqaiirler* nf 

M.fin/i/ir .V.iinmai/ Uautr u/ 
iVrtr Yurt in iVi-ir Yurt. 



Republic National Bank of New York* 

Strength. Security. Service. 


A S*fra lunlr - Nrw - 0mrv4 - LhiJiiii ■ IL-iiill^ • lirirul • llvviwiy IlilL • Hiiihhhi Aim • ('jynun ImLiiiU • l'it|H>iilufS-ii • OiLrjtldr 
Ont'inm. 1 * • I t«mi Imhi< * Jatarlu " L*i* Ah^Ii-h • i.iitfmu • l.u-uiuUuir^ ■ MjiiiLi - Mrtim (‘ily ■ Miami • Milan ■ Munle I'arLi - MunUwiilwt 
Miinlival ■ M irm iw - Na«J» * " l‘‘rili ■ I'nnU iU lial*. * Kin Jr lanrini - Nnlu^i - Sin^i|Hin- ■ Sri Ini'? - Taiijivi • Tittcyn • IVinuilo - /urit'li 

*" Njii. nial UniL -I X, l.nti. l l Mti 


and closing priew,- New Yotk ( 
(AagJ 

Source- Revises. 





PAGE 14 


&.Y. 

2 


.}.,^.: i .:^.t. •■■ ■>.’%" 



30-Yeaf T-Bond Yield 


/•'■V 


The Dow 


8000 


/VV 


Dollar in Deutsche marks M Dollar in Yen 


I ]& F M A M J J i 110 F M A M J J : . 
i 1997 _ J J997 ^ _ #- _ ' 




Source: Bfoombeig, Reuters 


Very briefly: 


CwT i. ■ Wy . ■ o v ■y royi i i flf 1 , , ’*‘ r :^ ; - / ' -^ 1 ■ 

*• S •' ; ? ' ■ : • ■ *■ ■ ' • • ■ 

iMcnuiMul HenU Tribune 


CalEnergy Targets New York Firm 

OMAHA (Bloomberg) — CalEnergy Co. offered Tuesday 
to buy New York State Electric & Gas Corp. for $3.3 billion in 
cash and assumed debt, and moved to increase its stake in the 
utility in preparation for a hostile takeover if its overtures are 
rejected. 

In a letter to the New York company's board, CalEnergy 
said it was willing to pay about $1.8 billion in cash if its target 
will accept a friendly offer. 

Flo-Sun Expands Sugar Interests 

SAVANNAH, Georgia (Bloomberg) — Savannah Foods & 
Industries Inc. will be acquired by a unit of Flo-Sun Inc., 
folding the sugar refiner into the Florida- based sugar-pro- 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 

THE AMERICAS 

IMF Restyles Lending Terms 

Argentina Will Be a New Model for Better Governance 


By Paul Lewis 

New Yorit Tunes Service 

In negotiations that could have a 
ripple effect throughout the devel- 
oping world, the International Mon- 
etary Fund is offering for the first 
time to give its seal of approval to a 
country that agrees to improve its 
governing process instead of simply 
meeting strict economic targets. 

Hie offer, now being discussed 
with Argentina, would make ah 
IMF line of credit dependent on 
evidence of “good governance." 
Criteria could include emphasis on 
health and education, overhauling 
the tax system, improving court 
practices, strengthening private 
property rights and opening gov- 
ernment ledgers. 

Until now, the fund's credit has 
been pegged to holding the.line on 
inflation, limiting budget deficits 
and the tike. 

If both parties agree on the ar- 
rangement, Argentina would win 
improved standing in private cred- 
it markets, allowing it to borrow at 
lower rates. Presumably it .would 
also attract more foreign invest- 
ment, since the changes sought by 
the IMF would provide more pro- 
tection ibr business. 

The arrangement would serve as 
a model for developing countries 
elsewhere in Latin America and 
possibly other regions. Some of 
the IMF's traditional role — that of 
promoting structural stability — 
would be fulfilled by private busi- 
ness and investment. 

The offer grows ont of Argen- 
tina’s success in overcoming in- 
flation and promoting the fastest 


growth in Latin America this year 
— now around 8 percent. 

It also reflects the decision, in 
1991 to peg die Argentine peso to 
the U.S. dollar as well as the gov- 
ernment's willingness to embark on 
whai Michel Camdessus, managing 
director of the IMF, has called “the 
second generation of structural re- 
form in Latin America." 

The Argentine economy is fore- 
cast to grow 7 percent for the year 

Reforms would allow 
for high-quality 
economic growth, 

with virtually no inflation, leaving 
the monetary fund with no grounds 
for seeking new pledges of con- 
ventional economic rectitude in 
exchange for credit promises. 

Instead, Argentina would be giv- 
en the right to borrow an as yet 
undecided amount in exchange for 
a package of governing reforms. 
The goal, IMF officials predict, is to 
prolong Argentina's strong growth 
and further reduce poverty. 

“These commitments will con- 
solidate and extend the reforms we 
have already taken," Roque 
Fernandez, Argentina's economy 
minister, said Monday. 

Pablo Guidotti, the country's 
treasury minister, said: “We do not 
plan to draw the new loon because 
we have adequate access to private 
capital markets. But we need tech- 
nical assistance from the. IMF for 
many of the changes we plan." 
Under the accord that is emerg- 


ing, he said, the government would 
give priority in public mending to 
improving the health ana education 
of the work force. It would make 
public-spending accounts -mote 
open and create special courts to 
clear a backlog of tax disputes. '■ 

U also would reform the selec- 
tion process forjudges to reinforce 
judicial independence. It would 
nuke it easier for banks and other 
lenders to recover assets from bor- 
rowers in default. 

The IMF's affiliated lending 
agency, die World Bank — in its 
latest World Development Report, 
published last month — said that 
countries with sound governing 
practices and effective economic 
policies saw real income, rise 3 
percent a year in the three decades 
from’ 1963 to 1993. 

For those with poor governing 
practices but good economic 
policies, the rise was 1.4 percent. 
And for those with poor ratings in 
both areas, the gain was a mere 
four-tenths of 1 percent. 

In a speech to Argentine bankers 
in Buenos Aires in May, Mr. Cam- 
dessus said that the kind of reforms 
Argentina planned to make would 
allow nations to achieve "high- 
quality growth of the kind that will 
be genuinely sustainable over the 
long term." While widespread ad- 
option of market-oriented policies 
in Latin America and the Carib- 
bean has lifted average growth 
rates to around 5 percent, from 13 
percent in 1988, most countries 
have been unable to narrow the 
income gap with more advanced 
nations or to make a dent in poverty 
rates, Mr. Camdessus said. 


2 Big U.S. Banks Gain. 
But Costs Punish a 3d 


Reuters 

NEW YORK — Chase Manhat- 
tan Coro, and Citicorp, the two 
largest U.S. banks, said Tuesday 
that their earnings rose in the 
second quarter as strong perfo r_ 
mances in corporate banking offset 
weakness in credit cards and con- 
sumer banking. 

The results, similar to those re- 
ported by NationsBank, First 
Chicago NBD Corp. and other big 
banks on Monday, met or slightly 
exceeded Wall Street expectations. 

Wells Fargo & Co., the No. 9 
bank, said its earnings fell 37 per- 
cent, hurt by costs from completing 
its merger with First Interstate and 
higher provisions for loan Josses. 

Chase, which took over the No. 1 
spot from Citicorp when it acquired 
Chemical Bank Last year, said net 
income rose to $925 million in the 
quarter ending June 30. compared 
with $856 million a year earlier. 

Chase, based in New York, cited 
strength in its corporate business 
worldwide and a rise in revenue 
from trading for its own account, 
partly offset by weakness in its con- 
sumer operations. 

Excluding restructuring costs 
from the Chemical merger. Chase 
earnings were $969 million, which 
was' above analysts' forecasts. 

Chase stock rose- 68.75 cents to 
$102.6875 in late trading on the 
New York Stock Exchange. 

Citicoro, also based in New 
York, said earnings rose to $1 bil- 
lion in the quarter from $952 mil- 
lion a year earlier. The results were 
better than forecast, but Citicorp 
stock was down $3 at $125.50. 

The company’s consumer bank- 
ing business remained under pres- 
sure, and Citicorp's chairman, John 


Reed, said its domestic credit card 
business presented ■ “challenges.” 
He also said competition :had 
caused the spread 'betWeecM oosi 
of funds and the interestrates it can 
charge customers to naxrow._ 

“Our assumption is ‘that the 
highly competitive marketplace is a 
peimanent reality/'. Mr.Reed.^id, 
aiding that Citicorp wodlafocus qn : 
improving customer ‘service and 

CU We?isF^l°. based in S:m Fran- 
cisco, said net income fell to $228 
million, from $363 million a year 
earlier. The results were below 
forecasts, but Wells Fargo stock 
was $1.50 higher at $267. ■ .■ T £ 

“The earnings we reported this 
morning are clearly a disappoint- 
ment for shareholders, employees 
and the senior management of this 
company,*’ said Wells Fargo’s 
chairman. Paul Hazen. ' 

The company said it bad higher 
operating losses from integrating 
the operations and back-office 
functions of First Interstate, which 
it acquired last year for about $11 
billion in stock. 

■ A Record at Merrill Lynch 

Merrill Lynch & Co/' said 
second -quarter earnings rose 11 
percent to a record, exceeding even 
the most optimistic estimates, as 
revenue from trading, commis- 
sions, Investment banking and asset 
management advanced, Bloomberg 
News reported. 

The U.S. securities house with 
the biggest force of brokers said 
earnings for the quarter ended June 
27 rase to $481 million, from $433 
millio n a year earlier. 

Merrill shares were up$?.l875 at 
$65.75 in late trading. 


during operations of the Fanjul family. 

Savannah Foods stock fell $336 to $15. 
after touching a low of $15. 


125 in early trading. 


STOCKS: Strong Gains by Texas Instruments and Other Technology Shares Pace Wall Street Rally 


Cholesterol-Fighter Gets U.S. Base continued from Page 13 


STOCKHOLM (Bloomberg) — Raisio Tehtaat Oy, a 
F innis h maker of food products, animal feed and chemicals, 
said Tuesday it had agreed to give a Johnson & Johnson unit 
the sole right to use a substance in its cholesterol-cutting 
margarine Benecol in the United States. 

TTie unit. McNeil Consumer Products, will have the li- 
censing right to use and market stanol ester, the substance 
Raisio claims cuts cholesterol when consumed, in a variety of 
products. 

• Phillips Petroleum Co. raised its 1997 capital budget 6 
percent to $1.77 billion, its highest since the mid-1980s, as 
higher oil production and prices swelled its coffers. 

• Media Corp. is buying Katz Media Group Inc., which 

represents television, radio and cable stations in selling air 
time to advertisers, for about $373 million. Bloomberg, ap 


ness and plow the proceeds into 
digital-signal processors, advanced 
chips used in cellular phones to mi- 
crowave ovens. 

DSPs are the fastest-growing part 
of the chip industry. The chips take 
light, sound or pressure and turn it 
into digital computer language. De- 
mand is increasing as new uses 
evolve in areas such as wireless 
technology. 

Analysts touted the results as a 
remarkable turnaround for TL A 
year ago, the company was battered 
by plunging memory-chip prices, 
and its shares were trading at about 


$42 per share. 

* * B low-oat numbers, as far as I'm 
concerned." said John Geraghty, an 
analyst with Credit Suisse First Bos- 
ton in New York. 

T1 shares closed up $12 at 
$10930 in mi the New York Stock 
Exchange. 

Revenue increased 6.7 percent to 
$2.56 billion. 

Shares of other chipmakers gained 
as well. Intel Corp., which was to 
report its second-quarter earnings 
late Tuesday in California, was up 
sharply on die Nasdaq Stock Market, 
as were SGS-Thomson Microelec- 
tronics NV, Micron Technology and 
Lam Research, a maker of semicon- 


ductor imnufac wring equipment. 

Honeywell said its second- 
quarter earnings rose 18 percent, in 
line with estimates, on strong de- 
mand for controls that monitor sys- 
tems in commercial aircraft. 

Net income at the maker of ther- 
mostats and other controls increased 
to $98.4 million from $83.3 million 
a year earlier. Sales climbed 12 per- 
cent to $1.98 billion. The results 
matched expectations, but Honey- 
well shares fell $1,625 to $783625 
in late trading. 

The Minneapolis-based company 
said its space and aviation unit turned 
in the strongest performance, with 
operating profit rising 39 percent to 


$61.8 million. Sales increased 22 
percent to $488.8 million. Honeywell 
is a major supplier of cockpit controls 
to Seattle-based Boeing Co. 

Investors have bid up stocks in 
anticipation of spectacular earnings 

US. STOCKS 

gains. But in late Wall Street ac- 
tion, pharmaceutical stocks, which 
have surged recently, fell as compa- 
nies reported earnings that merely 
matched expectations. Johnson & 
Johnson. Bristol-Myers Squibb and 
Warner-Lambert ail were lower. 

Minnesota Mining & Manufac- 
turing Co. fell after the company's 


chairman said he was worried about 
the impact of foreign exchange rate 
fluctuations on earnings. 

American Express, which has 
been rising on takeover speculation, 
wasiiigher again on Tuesday. 

Bond yields were little changed 
after the Commerce Department re- 
ported that retail sales , rose in June 
for the first time in four months. The 
yield on the benchmark 30-year 
Treasury bond was at 6.54 percent- 
down from 635 percent Monday. 
The price was at 101 1/32, up 4/32. 

Among broader market mea- 
sures, the Standard & Poor's 500- 
stock closed at 925.78, up 7.40 
points. ( Bloomberg . NYT) 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Tuesday's 4 P.M. Close 

The top 300 most odfve stares 
up to the dosing on Wall Street. 

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11+ 




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10 ft 


i« vs 

■92“!. 91*u 
5T*. n, 
II', 11<4 

n- ii-.s 

20m H i 
IT- 12V. 
»i S 
l\i ito 

12’. II-* 
114 lll| 
m p. 
ir< ia 

3M 37V, 


2T-. 21't 

IP'S in 

10 . 

37". 14 i 

111 Ills 
JJI> 111* 
IP'S Ills 
oh t 
14*4 U 
Uth 19*s 
24>s D'| 

l>s 1-. 
'« '» 
Fi Ms 

lOVn If-, 

n 

!B'4 l«.s 
in. ip, 
a a. 


I*k 4‘s 
irs in» 


10's 9*1 

39- .1, 

11*1 

2* i J-s 

29'f 33 l , 


4»» 1--, 

II - 10's 


Dow Jones 

ana wfk low Lost c*u- 
limus IWlI 7983.14 7B7M5 797SJ1 +5S.73 
Tran MUM 2641.78 260029 7S3SJO +3445 
INI 231-94 233-51 23133 23143 +OB0 
Carp 244121 24SS.06 242430 245159 +19.01 

Standard & Poors 


Industrials 1066^8 107558108155 

Tronsp. 658.99 451,69 65325 

Uffittes 202,36 20087 201.41 

Hnonce 10U3 103X0 10X69 

SP500 921.78 912.02 91838 

SP 100 999.86 889-52 896X3 


tugs Im CM. 

48099 47639 48059 +Z6S 
41232 *>£» 61132 +450 

4XL80 427.97 £33.15 +457 

28X79 28633 2® 79 +0-77 

43749 414.18 43666 +099 


Most Actives 
NYSE 


OCA Piton 

TdBrasI ■ 

WanT 

HmrtcfIPt 

PMMar) 

TfcsfcMinc 


28 281S 
1 1336-. 1341V 
47 48* 
«Vi 

42 421+ 

•m 3m 
39* 3m 
104 

l&Vs 17*. 

B5V* 87V. 
369S> 37*1 
4!'«.42'W, 
37 1» 38<V» 
134s. 24*5. 
nr** ids 


July 15, 1997 

High Low Latest Chge Optra 


CORN (CBQT) 

5.900 bu mMmum- cards per DuttW 
JU 97 272 23 775*. *BWr 11X76 

Sen 97 25* 243Vi 256 +71* 63,965 

Dec 97 258* 243iv 256b +7W 148X62 

Morn 366*i 252 265 -8 2X106 

MwM 271* 258 ITOb -8 5,158 

JU198 Z75V, 242 !73b -7*.- 8.660 

Sens* 261 251 240 + 4 944 

6m. safes MA Man's, sales 86357 
Atom's open ini 271.978 off 2667 


Hlgli Low lotos] Chge Optatf 

ORANGE JWCE (NCTN) 

1600011 k.- cents par ib. 

Sep 97 7600 74.10 USD — UO 19X58 

New 97 7840 77.20 7730 -095 6X68 

Je»l?B 81.60 8QJ0 80JO -OJO 2.708 

Mar 98 84X5 8330 8X55 -055 1349 

Est sales NA. Winn's, sales 1.103 
Man’s open in| 31-535 off 157 


Head Law Lotos) Chge OpW 


High Loss Latest Chge OpM 


Nasdaq 


Nasdaq 


Canvastti 154119 

toduslnols 173129 

Banks I644A5 

Insurance 1 690.60 

FtoCTKe t?74J8 

Tramp. WL88 


Low LnW Op 
152669 154Z13 +1BJS 
1225.77 123528 18.17 

164549 164660 +526 

161237 168933 4US 
19450* 197433 +9A3 

91140 990.46 +4,78 


M Hlgft 
304648 8119 b 
165018 37 
109780 Spin 
94933 58b 
86368 139b 
75007 54b 
69709 78*5 
44478 60 
60449 3b 
58088 145V: 
54197 B5 
53450 414» 
44670 20b 
44577 41b 
49994 17» 


79b 81 IW 
34^ SSIH 
52b 5lh 
55b 57 »b 
136491 38<Vu 
54+9 SW 
77b 78*1, 
516* . 58 
2V» 3jni 
14199 142b 
80 B2>4 
4019 413V 
14(9 156 b 
58* 61*9 
17 I7*b 


Htob Lbw UP Cke. 

43455 43H90 434J95 +237 


Dow Jones Bond 


?0 8omf5 
10 Utilities 
10 Industrials 


Qmp OkL 

104,01 +0J2 

101J6 +0A6 

10646 +0.18 


Trading Activity 


HaAai 

TWA 

AWtK" 

ViacB 

iTnrntQQ 

HmeSean 

iwaCp 


Nasdaq 


Low Lad 
9J«» 97b 
iou icw 
24b 28 

6b 6M 
6Vt Ail 
Tv, gvv 
28>< 29 

rv. i’j 

10 10b 
lib lib 


3251, 

337 

-3 

UK) 

332 

33Bto 

-2'.4 

41J29 

346 

357*. 

*3 

36-4 IB 

358 


♦ 3fc 

652? 


Mnroa 
Ttoonwii 
ucaungH 
Total dues 
New Highs 
New Loon 


1517 1483 AtMKCd 

1358 1370 DkUimI 

43 3S VSSmS 

328 385 NfwHtfn 


Market Soles 


unenonem 
TaBKMIM 
New Highs 
New Lows. 


Dividends 

Campany 


W 303 NY5E 

iS IZL Amex 

ffl 47 NasdDq 


Par Amt to Par Compmy 


1635 2178 

1607 1»45 

2155 1596 

5397 5729 

IS! 348 

tO 49 


Tatar Fm 

609 um. 

602.82 593.95 

25.00 32.00 

679K5 67738 

In mUUcm 


Per Anri Rec Pay 


IRREGULAR 

Genesis EncrgyLP - 30 7-31 B-1S 
STOCK 5PL1T 
AES Corp 2 far 1 split. 

LeaRonOl Inc 3 for 2 spTrt. 

MBNA Carp 3 for 2 spfit. 
OrodeCoip3tor25plit. 

PcaflcAmei Mcmer Ctr 2 lor 1 spit. 

Wc ban Inc c- 7-18 7-38 

c- one shore o< SJi Whotescte Club fer e u di 
share at waban hew. 

REVERSE STOCK SPLIT 
CameiolCorp 1 for reverse spBt. 

SPECIAL 

NattWiretess _ 130 9+17 10-2 

INITIAL 

Cascade Bancorp - .10 84 8-11 

GS Financial - .07 7-22 M 

LeaRonailncn „ .13 7-29 B-T9 

Me) Ion Bor* n _ 33 7-31 8-15 


INCREASED 

Cincinnati Mi Q -12 8-22 9-12 


REGULAR 

Banc One O 38 9-15 9-30 

Cnde loaoShrs M 0725 7-18 frl 

CtitCDfp O 325 7-31 8-19 

CocnCntaEnteror 0 .025 9*19 1G-1 

EOTT EncrarPt Q 475 7-3 8-14 

RSNailMta 0 -31 7-31 8-25 

FstConinmwimFd M JIS25 7-31 B-15 

FstUWCpMtt a M 7-18 8-1 

Grand Pieni Fnd - M 7-M 8-1 

Great Atlan&Poc ° .10 7-« 8-11 

Honeywellnc Q 37 8-27 9-15 

WVKS-Atn ApartCom O 335 7-24 7- 

Nall Goff Sops Q & 7-31 8- 

NR.Thrtf Q 3K 7-J5 7- 

Phim Creek Tun a 35 B-15 8- 

SmittificW Cos 0 M % 

rones MinorA. Q -IS 8-19 9- 

Vermont FndSvcs O 30 7-25 B- 

a-anmiattHspprawate wnorntm 

shan/ADRt 9-twfo«8to Cmwla tonds: 

iMamrittiff iHtoarlKtR S4aail4mod 


Q 335 7-24 7-31 

Q 42 7-31 8-15 
Q .125 7-75 7-30 
a 35 B-15 8-28 
0 36 8-8 B-79 

Q .15 8-19 9-10 
O 30 7-25 8-25 


SOYBEAN MEAL «W2T) 

100 ram- diotan per ton 
All 97 • 77530 27130 27X711 -230 4.93D 

Aub?7 25550 25000 251.90 -100 74,915 

Sen 97 231.90 22430 27M0 -0.70 14.921 

0097 212.00 20500 20980 —OJO 14.6419 

OCC97 20430 19730 2Q2J0 36381 

Jan 91 20250 70000 200.70 +030 5^00 

Est.sdes NA Man's, sales 24,210 
Men's open Int 115378 off 646 

SOYBEAN OIL CCBOT) 

604100 lbs- cents <wr ID 

Jut97 2273 2223 2269 + 0J0 1371 

AU097 2288 Z2IB 2279 +036 21.738 

5CP97 2110 2239 2193 +0J 15396 

Oct 97 23.15 2242 22« +a44 14,191 

Dec 97 2125 27 38 H09 +146 41.253 

Jon 98 2335 Tim 2330 +035 5A39 

Est sates NA Men's sales 23.425 
Mon's oner ml mou off 1685 

SOYBEANS (C80TJ 

S4U bu irMnxn- corns par bushel 

Jut 97 B4Vj BOSVi 811 -8 7363. 

Aup97 782 766 775V, — 3‘j 34.089 

Sen 77 681 V; 642 677V, I34D3 

Nov 97 430 607V* 62K. -4 77396 

Jot 98 637 .422 4HF» *3Vi 14,595 

».so6es na Man's, votes 64.107 

Mon’s open inf 147395 w> 255 

WHEAT ICBOT) 


Jutsr 334 
Sep 97 342 


Est sates NA Man's sdes 22.06? 
Man's open int 90655 up l» 


Uvestock 
CATTLE (CMERt 
1 0.000 *jv- cent-. dc+ ® 

AU097 66J17 65 32 6585 -<tf> 35.119 

00 97 69 42 6&4S 6072 -042 3U18 

DOC 97 71 JO 7072 TOW -077 15490 

Feb 98 7135 72.70 UTi -OJ 2 7,908 

Apr 98 75.10 7470 7472 *802 X365 

JOT 98 7165 71 15 71 M -OK 2.M 

Es. safes 1X728 Man's, safes 26.206 
Man's open int 96.138 up 1B66 

FEEDER CATTLE (CMER) 

SOMO lbs. - cents per ■> 

AUQ97 81 J7 8060 8082 +032 11.197 

Sepe; 01.15 WL55 81 OS tOJS 2.960 

0(397 <1.47 30.90 8140 +057 4403 

NOV 97 S3 05 82.45 8247 +032 3,158 

Jon 98 8X75 SITS BL60 * 0 72 1.531 

After 98 8X50 82«0 0120 *060 755 

EH. safes 3.637 Man’s sales 5.232 
ftftws open ,nt 74244 up 120 

HOGS-Lean (ONER) 

40JEI0O in - cents por *» 

JU97 MOO 8X47 8372 *002 2JQ5 

Auo97 82.05 80 48 8097 -OI7 1 1.936 

0097 75JJ5 7145 741/ 1 -447 11+03 

Dec 97 71.70 7025 H.17 -032 5.2W 

Feb 96 TOSS 6X50 69.65 -035 1.868 

Es. sales 9.938 Man's, sues 0760 
Mon's open w J5.924 off «2 

PORK BH-UES (CMER) 

4UMOK... temper It 
JiH97 t&O 84.70 BIN) 

Aug 97 8225 BIM SL77 *2^ 4.W 

Feb 98 7100 mBO 7145 +UB 8» 

Eg. sates 7JB3 Maris, sales 1426 
Maris open im 4.145 up It 


Stock Tables Explained 

Sales fipures are unottiefed. Yenty Mglc reid tons reflect the previous 57 wrefo plus the cunent 
week. butnoOt»latesnrocBngda¥.Wiien?osf«or!^iSiMendan*Mitmgte 
has been pofc»e yean MgMaw range and dhridend ait Utawm tor the new stocks on*. Unless 
cttictvKc rwtel rates o# dfyyjanfc are annual (tJunr^nents based cm the Intel dcdmjiion. 
a ■ tfwdend also extra {s}. b - annual rate at dvidend plus stock dttfeml. c - liquidating 
dividend, cc- PE exceeds 99.dd- called, d- new yearly km. dd- loss in ttl* tost 72 manrhs, 

b - dividend declared or paid in preceding 13 months. ! - annuel rate, meroowd on lost 
ftedarnfam.g - dhridend In Canadian funds, subject to 1 5% mn-resldcflcc fox. i - dividend 
declared after splilmo or stock tSndend. (■ dividend paid this year, omitted, defem-d, or no 
action taken al toted dhridend meeting, k - dividend Sectored or paid tilts year, an 
accumulative issue until dividends in arrears, m - annual rate, reduced on last declaration, 
n - new issue in trie past 53 weeks. The high- low range begins with the start at trading, 
nd -next day dekvery. p- initial dnndemL annual rate unknown. P/E ■ pncc-cammgs ratio, 
q - dosed -ena mutual fund, r - dhridend declared or paid in preceding 12 months, plus stock 
dividend- s • slock split. Dividend begins with dote of split sis - sales, t • dividend paia m 
stock Hi preceding 12 months, estimated cosh value an cx-dhridend « et-dtafributton date. 
U - new yearly high, v - trading halted, vi - in bankraptcyor recciversftip or being rearganired 
underthc Bankruptcy Act. or securities assumed by such companies, wd - when distributed 
wi - when issued/ ww ■ with warrants. > - e» dividend or ex-rights. Mb - CA-distnbulien. 
xw - without warrants, y* ex dividend and sales in tulL ytd - yield- Z - sales in luX 


Food 

cocoa (NOEl 

lemrtric tons- Sl^ ran 

Jut 97 ISO ]5* 583 *32 

V»97 1597 1548 5g *'■ 

DK97 M45 41? 

Marfa W> 14S >676 *>] 

MOYW 1494 IW 1W6 ♦}{ 

Jut 98 1714 1700 1714 * 11 

Est.sdes LUO Moris. sdtes V& 
Mon's mm M 101,105 Ct» 152 

COfffiECCNCSE) 

37 Jan ibs- ct*ii+ ore to _ , , . 

Jliw 190X0 IKJ0 JM.S0 -IM 

S» 97 15*50 1MJ5 »|5 

□pc 97 14740 14550 14590 — 46u 

NUiM IJCW 13835 IJZ50 -XX 

MovW 13700 13575 U125 —J-W 
Est. sixes 4.101 Atort. sattt 4. J3I 

fltoriswenint 2M7 3 w m 

SUGAR-WORLD 11 (NCSEf 

1^1, rTT 10 97 —414 
MOT90 1126 1116 11.16 — J-*® 

MW. 98 1115 JJ* 25m 

Jul+S II JB "81 "■» T 1 — 

Est. safes 3-523 MOT'S •»« 4.J72 
Aftonsirwm '»** 33 


GOLD (KCAAX) 

IDO troy ol - Upton per nnvn. 

Jut 97 31430 -INI 2 

Aug 77 32220 31470 3193)0 -I JO 1Q5JH3 
Sep 97 319J0 — IJO 2 

Oct 97 32X00 32QJ0 32040 — 1.83 11J1TB 

Dec 97 32440 32200 32240 — I JO 39 JIT 

Feb 90 32420 324*1 JMAO — 1J0 KM 25 

Apr 98 326.H1 — 1J0 W5 

JOT 98 330 JO 32490 32490 -IJO 7,544 

Aug 98 331AO —IJO 1JSI 

Est. sales NA Moris, sates 24,290 
Moris open W 190401 aft 23918 

HI GRADE COPPER (NCMX) 

2una Kk.- cents Ber to 

Jut 97 HUB 107 A0 10410 -110 5.245 

Aug 97 107 J0 10450 10520 -1.80 X641 

SeP 77 10490 10400 10470 —1.40 21.926 

Od97 10470 10X50 10X70 -1.40 1.465 

Nov 97 10540 11060 11060 -1J0 1,256 

Dec 97 10440 10200 10270 — IJ5 4008 

Jan 98 10220 UDJffl 102JO -fl.» 734 

Feb re isijo miAO wi 4 o — uo sb 

Mar 98 Ml .90 H420 HU9Q — UB 2JK0 

Est. sales NA Atari* safes 4836 • 

AAoris ocen int 49.186 oft 690 

SILVER (NCMX) 

UNO »nv M. - cenfs pot«W ot 
Jut 97 43050 42500 42400 +2.50 216 

Sep 97 43450 42X50 479.70 *220 MJBV 

Dec 97 44050 <1250 435.90 *2.M 14,572 

Jan VS 437.70 +220 19 

Mur 98 44250 419J0 44210 -220 9.424 

AAOV9B 447.00 46590 445 90 - 2 20 2J57 

Jul re 45X00 448.00 449.70 -2 JO 7.003 

Sen« 45170 *170 713 

Est safes NA mot's sotes 12.0M 
Mon's open int 82677 off 14045 

PLATINUM (NMER) 

to Irev or.- dallan oer trot at 

AH 97 40510 40040 40040 -XIO 632 

Sea 97 38' JO 38760 38760 -0.10 

Oct II 39150 386.00 JMAU —210 9,985 

E9. sales NA. Mian's, safes 1.12 2 

Man’soocnmi I2J23 off 221 

Ctee Previous 

LONDON METALS ILMEJ 
□atars pernwMc tan 
AknatBMB IHfeh Cradel 
Spa( ISJ9< ? ista’i 1559'r IS*0"r 

Fanrafd 154ROQ 1 569 Mi 1587 00 158800 

Casper Cantatas (Wab Grata) 

Spot 253700 253500 754500 254000 

Fm ward 228700 2208 JO Z313CHJ 2114 OO 

Lead 

Spot 62800 67900 65500 65AJ» 

Reward M3J» 64400 669 00 670 00 

Hkferi 

Spat 6755 JO 676500 6795 00 680500 

Foreran 687000 aesuoo 6910 00 6920 00 

Tin 

Spot 5475.00 5485.00 5560.00 557000 

Rraard 553am 550X0 561200 561400 

Doe Special high Grata) 

Spot 1485 00 14864)0 150400 150500 
Fonrad 149 jM 149SXU 150500 1506 00 


LONG SILT (LIFFEJ 

£50000 - pts & 3aod* 06100 pd 

Sep 97 114.11 113-30 1144)4 -0-02 171857 

DOC 97 113-23 113-23 113-26 -6MB 1,126 

Est soles; 71007. Pw.xto; 61159 

Pure, open hit; 17X903 oil 4,292 

10-YEAR FRENCH GOV. BONDS (MAT1F) 
FF5OCUXM-pha<100pa 
• Sep 97 130.32 129J0 129.90 -140 21X246 
Dec 97 98.96 9144 MJ6 —0.60 AMI 

EsJ. sales: 12X865. 

Open Int-- 219JS1 2 up 4071 

ITALIAN GOVERNMENT BOND (UFFE3 
ITL 200 mfflton - fXs at 100 pd 
Sop 97 13625 135J6 t£54 -075 10X730 
Dec 77 108.18 107^4 10787 — <L67 LON) 
Eri. srtw: 4X317. Plw. Sides; 4X199 
Pnsi.apreiliil.- 107^20 off 1456 
EURODOLLARS (CMER) 

SI roMan-Fto ot 100 pet. 


AW 97 

9125 

M3 

>125 

22476 

5ep97 

9122 

9120 

9122 

560,038 

Dec 97 

9108 

WJI1 

9101 

451,146 

Mar 98 

9190 

9X92 

9X98 

31X157 

JunSO 

93JH 

9X83 

9X88 

257,738 

Sen 90 

9177 

9172 

9179 


Dec 98 

9X88 

9163 

9X60 

156453 

Mot 99 

9X6/ 

9161 

9X47 

11X204 

Jun99 

9X62 

9157 

9162 

91^73 

.Sep 99 

mo 

9155 

9X59 

7X674 

Dec 99 

9X53 

9X50 

9153 

6X811 

Est ides 355593 Maris.srfes 22X627 

Aftoris open in 

2JWL783 up 17384 


BRTTBH POUND (CMBQ 


47, SM pwmds, 1 pot pound 


Sep 97 

1x874 

14634 

1.4746 

64.253 

DrcV7 

16690 

1.6418 

16688 

887 


HWi Law 

Close 

ct«r 

Optra 

Financial 

U5T.BILL5 (CMER! 

SI nM(- ptsoi 100 pci 
S ep *7 M rn MBS 


7.717 

Oec97 

MJ3 


606 

AAorfl 

W.64 

— 003 

14 


Est. safes 104 Man'S, safes 201 
Mon'S apin ml BJ37 off 123 

SYR. TREASURY (CBOT1 

f nXWH pniv. pk 4 6«IK of 10D pet 

SOD 97 106-41 106-37 I0M0 -01 230.909 

Dec 97 106-44 -Bl 2J44 

After 98 -01 

Est safes N A. Mot s safes 17^55 

Mot's aren int 273 m up 470 

WYR. TREASURY (OOTJ 
trauma at m - ais i ssnasat 100 pci 
S tun 109-M 100-78 109-14 350.930 

Dec 97 109-03 I ne -31 109-03 7.951 

flftarW 100-74 • 0? 10 

Est safe'. NA Mon's, safes 21.730 
MOT'S Open ad 35BJ91 up I860 

U5TREA5URY BONDS (CBOT) 
it pci -tin.nan-i.i-, & lmn at ma nen 
Sm 97 116-40 111-47 113-10 471.461 

Cfec*:»3l« 117-26 113-11 2L4® 

Mn98IIJ-08 lll-aj 111-08 11810 

JOT w 112-79 706 

Es». sate N.A Man's sate 144./61 

Mot s apnn inf SI?iJ7 5 qd ojjj 

U BOR 1 -MONTH (OWE R) 

Um4l<VI- H-. at inOKl 

Ain 77 WD 9431 9432 23.468 

Sep l-' VII MJJ WJ1 7.4 n 

OCt *7 94 70 94.26 90 2.S87 

eu mw, 4 9it Mai's safes g.vre 
Mot's OCOT Illl y.t87 ijp 5234 

GERMAN GOV. BUND ILIFFE) 

D7425U.UQ0 ■ pis ul lOOpgl 
SOT97 I02J1 102)7 103 37 -43l 2to.i« 
Dto. <» lOiii 101 W 101 4| 0 34 Vur] 

Ed >IS1 719 Im Pn-v Miin 161.943 
tl> « .klii ml.. 299.111 ml Jjtlll 


MorVS 18630 3 

Est. sates 17.706 ftflon'v safes X162 
Man's otwi int 67.143 Off 69 

CANADIAN DOLLAR (CMER) 

xao4mdonare.sporcan.dfe 

SeP 97 .7345 7319 7321 4 ! Wi 

Dec 97 7384 J150 7357 IM 

After 98 7«S 7387 7367 SM 

Esr. sides 6.177 Maris, sate 5JB9 

Alton's open >rt 43.509 Off 14 

GERMAN MARK (CMERJ 

ilSJXnmcrti-. socr marts 

S»97 J&30 5567 J6U 113749 

DfiC 97 StC 5*82 i*42 1.117 

Morffl 7670 J636 .5673 345 

Est. sates 24,549 Man's, sate 30.9/1 

Mot's open ml IUSH up 2 S3 

JAPANESE YEN (CMERJ 

T? -Send (ton von.lac* 100 ven 

See 97 0874 8697 8737 577M 

Dec 97 JW4 8818 8345 1/50 

fto 98 £960 8955 8960 151 

Est. sate 75^49 Moris sate 10727 

Marisaamini SUES is va 

SWISS FRANC rGME7» 

195. DOO tiCBn. IMIllBit 

Sep 97 MS iSX 6835 51,785 

Dec 77 4912 6874 6107 U«0 

7-tor 95 6987 M 

Es.scte M.0I9 ftflon's safes 10.196 
AAOT'S OPOT alt 5X313 Up SOU 

MEXICAN PESO (CMER) 

SfeAao peuc l utf ana 

Sep 97 123X1 .12180 .12195 IBJ99 

Dec 97 .IKWH .11750 lira) 19J80 

MOT re .11515 .11760 mu 4JI0 

Ev. sates 9,833 ftftcris. safes JJ3S 

Man’s open Kit 1S.I77 OB 257 

J- MONTH STERLING (UFFE1 

csaaaoa an at ioa pet 

3m 97 9205 9283 9283 -Ml I7IJ73 

P«W 9763 9239 9260 -0J1 13084S 

MorW *2£2 «« 9250 UnOL 101841 

Junes 975T 97 47 97 49 Undl 69.073 

Sep 98 92 52 9X49 92J1 UlXJL 4X263 

Dnc 90 9IJ5 9252 M54 Undl. 34589 

ASarta 9259 #754 92J3 .001 31545 

Ivr} 99 9251 nsr 9! Jr U nth. 18966 

!fep99 9261 9753 0761 -04)1 11350 

Est sate 50.787. Ptw. sate 5E922 
Ptw open «lt 591-01 dp 74S1 
1-MONTH EUROMARK (UFFEt 
DM1 mOOon -phot KM pci 
Aut) 97 0683 9681 9601 -001 1.165 

3yp97 96 78 96.75 96.77 —081 289,780 

Dee 97 9664 9660 8662 -0 07 2BI.S1S 

M0T98 9651 9648 7652 -002 2W.057 

Junre 96.39 96J7 V4J7 -003 I85J70 

Sep«8 9621 96.14 96.19 — 0JM 1S2 h113 

Drc99 ««6 9590 9SCU -004 IIUU 

Mar 90 91 ?s 9571 95 73 -003 83JA2 

Jim 99 MSS 9$S1 9SJ3 — n 04 <i *30 

Sq.99 95 J7 9L33 95 35 -C.Q3 la,9ta 

EM sate: vCQJQQ Pm. safes 152.965 
Pity aomrt ■ 1517.951 ad 320 
1-6AONYH PlBOR (MOTIF! 

FF5 tnUnit • pis of 130 pet 

’4.49 -0« 6H.251 
D« 97 9 AU> 0»4I 96 43 — 0 OB 35.540 

Jlf« *6 33 96^9 -OIO 77.937 

Snpofl *6 J.’ C4IS 96.18 — 0 II 31130 

J>C'I4 96 03 >r»<.S 95 W. cit 1858$ 

ftAaiW 9SSJ 30 95 30 —0 11 lyjoj 

J-inw esis oZ 9541-00-r 0551 

i t sate ~ 920 
Open * I .. :SL If J up ).7K 
1-MONTH EUROURA (UFFEI 

itl i moicn ■ or at too pa 

ScpW 93 J4 9J27 9154 -001 1117)1 
Di<«7 *3 74 «3*4 »37fl -Jjgj 91.439 

7,latT3 94 11 51C0 0403 -009 

JUT W 94 J8 9427 *410 -CIO 46.27? 

Smre 94.59 9447 94*9 — 0 12 39^35 

D«re 94.70 9458 *i6l -0 11 71. lec 

Est 1 ate +194,’. Pie+. Km. fij.om 
Ptev. tqfeti H ' TOMS’ vt 1521 


Industrials 

COTTON 2 CNCTNJ 
SUnbc-oMIlBrll. 

Oct 97 7X30 7X36 T4M +076 12,197 
Dec 97 MJ5 73JS 7434 +0J7 47J3B 

Mar98 7X95 74J8 754J +0J8 9J48 
MOT 98 76.10 7130 78.10 +0J0 2J85 

AtiM 77 JB 75.90 7X40 +045 1J78 

Ed. safes NA Aftarixsotas XS4 
Moris Open int 70,983 up M92 

KEATWGOfL (NMER) 

47«flO0 oaC oonls per ad 

Aw97 5X25 51 -H SL95 +1.21 33436 

Sep 97 5190 5130 5X63 +I.1I 0X147 

0097 54J0 5330 5433 +1.07 ZIJ63 

New 97 5X45 54.10 5X11 +1J» 1739 

Dec97 5630 55.00 55.98 +097 17.169 

Jan 90 5X70 5X60 5X53 +0.92 0646 

Feb 98 57.05 5X90 56JO +047 7321 

After 98 56J0 5535 56JO +0.82 6JM 

Apr 98 5498 5440 5178 +077 3JJ56 

Est. safes NA Maris sties 3X531 
Aftoris open int 15X705 up 4491 

LIGHT SWEET CRUDE (NIMBQ 
MJOObPi - oonareoer nut 
AUB97 19.8) ISJ8 T9J5 +066 66362 

Sep 97 19.90 1UD 19.73 +0JB 60107 

Oct 97 1935 1062 T9J5 +052 41412 

Nan 97 19.90 1935 19JD +040 20442 

Dec 77 19.95 19.15 19J0 +041 4XN» 

Jan 98 1984 1935 19J3 +041 ZL7S> 

Feb 9ft 19.85 1945 19.85 + 0140 TD347 

AAorW 1947 1944 1944 + 0.16 5468 

APT90 19.66 19.45 19.66 +OI5 5329 

May 98 1948 19.68 1948 +014 7.149 

EsL safes NA Atarix safes H0JB3 
AAarisaPenfel 416325 up 3557 

NATURAL GAS (MMERJ 
10 OOQinmbfu'I.Ipernvnbtu 
Aire 97 1185 1145 XI63 31324 

Sep 97 2.175 2.143 2.155 2X676 

Oct97 2.175 2.155 Z160 24J06 i 

Nov 97 1305 2380 2J9J 1143 

Dec 97 243 2415 2425 ISAM 

Jon 90 247D 2455 U70 15404 

FC098 2385 2J70 2JSS 10551 

Mam 2 jtn rm mo 6,970 

Aorre 2.115 1130 2.13 1371 

A toy 98 1102 2.095 2.100 2.065 

Est safes pla. AAoris. sales 26,967 
Monsacen jV 196,997 off 2311 

UNLEADED GASOLINE (MMERJ 
4744000. catoMrggl 
Aw»n 60. M) 58.15 99.94 +1J9 29430 

S»W 5X45 5X70 5X31 K?S? 

OdW 5X80 55.10 5641 +1.15 0201 

NO»97 55J4 +1 15 tjpm 

Dec97 5X50 54J0 + iu LB4 

tan« 5535 5440 5X75 +LJ4 UW 

-i.w ijii 

™ 5&M5 p) 10 ijan 

g-safes NA Man-S.35 ZX« 

AAnn sanenau 7X370 up 760 
GASOIL (IPE) 

U 5. cottos pw metoe ion . ws of jgo ^ 

Auq?r istoo 16000 162.75 +340 26,292 
16, 75 »MJS +400 

Oct 07 led 50 164 75 16640 *140 7408' 

Nn97 16X25 16640 16X00 + JS jjm 

16775 wjo +tS iaS 

12^9 ig-OO ,7 0J5 *1U0 6227 

170D0 17040 +T«J 345® 

■Aar 98 169 00 16900 169.00 + 0.75 Uffls 

^■1 12 -reO Prcv. sate: 17^779 
Pnre tmanuiL 7X431 irajjrja 
BRENT OIL CIPEI - - 

US. oona-.M+boTCl - Wi of 1 .000 barret* 

Aug 97 1B48 1780 1039 +047 ZMU7 

Sgr97 1948 T7J6 1X27 +051 79441 

!?■“ *&« 1845 +OM 19«4 . 

tJo+9, 1047 1X13 1645 +0 jO 19.101 m 

1M6 +SS lAW ^ 

iSS S-2 1M5 11^76 

IH? ,B -“ *0J7 16267 

A-41I98 10 45 1X34 1X62 - Oy 11476 

Ed WAS . Pm. solas : 6X«n 
Prev open Int . 17X541 up 471 8 

Stock Indexes 

■ SAP COMP. INDEX (CMER) 

™ ES :?S OT xS? 

CAC80 (MATtFl 
FFIM per lixte paail 

Dr w Tm *aoo 

SI. S 8,88 «S 

OwtefTitireotnox 

™ 100 ILIFFE) 
n s per hdo pomi 

Sew SmS 222 * afl 71857 

U9935 +SJ4 A/4B 

fcrerre h.t N.T 50320 -M0 101 

tel sate 14575 Pmv sttas: 11709 
Pnn opwieu 75^? ^ 1M i ' 8V - 


ComrncKtity Indexes 


. Ctose Previous 

Moody'S Njl ij« 

pTprfurp. 1.MQJ0 

U.J.rutum 14731 14749 

LMB 235 14 234-43 

8 sswjafcrf PTws. Lambfi 

mSSSSSSS? ^ >m 


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' J| ■> \l\ * ~ 

, ««.-,■ -i • *+ 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. JULY 16, 1997 


PAGE 15 


unisha 


- *' w 4 d = ««3 its dor.ie , 

• £i Sin ^ s Pre«nrto VHu 

Ifc also lt.-t, ^ '^cnsl 1 ' 

«used the sprc^-^A 
uf .funds and u,e 
=barge customers ,£ 

• Our 3ssii m n ;i n ^'. * 

highly cwnptfrisj^- i 
^manent reali;. • O ^'PUctf 
. addmgihatCiticorc 

improving CL 5 .;ume r - ,UM ^ 
cuuwjg ccsii,. r -ervicT/ 

.. . Weifc Forgo. b 3vM ( . f; 

: cisco, said ntj j ntl - ,r ] 
miPjon. from j.v 1 toy 

earlier. The .^u's 1 ,nn >vj 
forecasts, hut wJi? £ er * b£ * 
was S 1 .50 higher I; ^~ r ^° sj 
.' “The eanf:n £*".•. 
morning are c!e rtr |..\ "? un *d| 
meni for shared ,* K - d li, '* a Ppifc 
and the senior nUf.V. 
compare." ttld 
chairman. Paul h’a.- 
The compin’. 

"Turning !(**:« J r “ 

Lhe operators 
ninclioiL*. of F.r-i 

ii acquired L- .-; ■....-. T. ! lJl “ ^ 

billion ir. s!.:v k. ‘ j] 

■ A Record r ;n , 

Meniii L\t, v :- . 

second- quarter '* 

percent to j recur’-’ , n '* > 
•he rrco os;! ; l: . ; 

revenue frorr: 
sions. invesT.mer < j .i y',. 
n-.ar.ageir.er.; ::d- 
News rcponec ‘ 

The O S i.-e. r. .. . 

the bic-rc?; r :"' u "‘: 

ejrainS^«:k:‘J. 

iaiHsori - 

Merril!,;.,re- .. \ 

*i5 7f ; r . . 


■?M R5 SMC an; ScMiops tor a jryn ptanet are iraderrarrr p* Ir.'einaliuns! iemre Machines Cotpurjiiuii in iti- united Sales -irui/or Mhs! •jrM’\t r . Other company produr: and ietvn>. -.smts ;r.?,- to nadera.* c naSs o! s?W. 'eiW; IBM CcFfiato' - 


On May 11th, an RS/6000 known as Deep Blur 
became the most famous computer on this planet. 


Ser 




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..... / 




i^SS3 






* . • . •• 

• • • A 

* On July 4th. another RS/6000 became 

•/ 

the most famous computer oil this planet, 

. ' ♦ 

► . . • • * 


If all Slree; Rally 


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The same IBM RS/6000' technology that as “Deep Blue" competed against 
world chess champion Garry Kasparov is also conquering deep space. 

For the Mars Pathfinder mission, NASA and Lockheed Martin had 
only one shot at success. Their solution: an onboard flight computer based 
on ever-reliable and powerful RS/6000 technology. 

From launch to landing, the computer was responsible for over 100 
mission-critical events. On Mars, it’s controlling vital communications 


between Earth, the Pathfinder lander and the 22-pound Sojourner rover. 

Of course, you don’t have to be a grand master or a rocket scientist to 
benefit from RS/6000 technology. More than 600,000 RS/6000 systems 
are in use around the world (Earth, that is), handling everything from 
massive data warehouses to mega-Web sites to large-scale simulations. 

For a closer look at the computer technology that’s taking this and 
other worlds by storm, visit www.rs6000.ibm.com 


Solutions for a small planet’ 


> 









PAGE 16 




’ VtiitSil 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 


\ 



EUROPE 


Saudi Sees 
A Future 
In Beirut 
War Ruins 


- Reuters 

BEIRUT — Prince Walid 
ibn Talal is eyeing Lebanon, 
where he plans to ride the re- 
construction boom with hun- 
dreds of millions of dollars in- 
vested in tourism and banking. 

“The prince is looking at 
mainly tourism and banking in 
Lebanon.' ’ a source close to the 
Saudi prince said Tuesday. 

“Lebanon used to be the 
biggest tourism market in the 
Middle East and now with the 
reconstruction the prince thinks 
tourism will be hot again." 

Prince Walid, who has a huge 
international portfolio of in- 
vestments. ranging from com- 
puters to theme parks, this year 
became a major partner in 
Beirut finance house Lebanon 
Invest after buying an undis- 
closed number of shares. 

The source would not put a 
price tag on Prince Walid 's in- 
vestment plan in Lebanon, but 
said it ran into hundreds of mil- 
lions of dollars. 

“We think this is the right 
cycle for Lebanon and the 
country has high potential," he 
said. 

Lebanon, still recovering 
from a devastating 1975-90 
civil war. has mounted a multi- 
billion dollar drive to rebuild 

the country's infrastructure and 
Beirut, once the region's bank- 
ing and financial capital. 

Prince Walid’s plan to invest 
here is good news for the Leb- 
anese government, which is try- 
ing to restore investor confi- 
dence and is hoping to lure 
tourists by organizing summer 
festivals. 

Some market watchers were 
optimistic that the prince's in- 
terest in Lebanon would raise 
economic development pros- 
pects. 

“For sure, this is good 
news," one expert said. "What 
is interesting is what kind of 
direct investments he will pur- 
sue. That's the key question." 


BA Joins Chorus Against the Strong Pound 


tyOar SlrfFnm Dufurhn 

LONDON — British Airways 
PLC said Tuesday that the strength 
of the pound was crimping its earn- 
ings, joining other leading British 
companies that have complained 
about the problems caused by the 
currency 's clout. 

The airline’s comments came 
after the media company' Reed El- 
sevier PLC, the financial informa- 
tion supplier Reuters Holdings PLC 
and British Steel PLC said the 
pound — up almost 24 percent since 
August against a trade-weighted 
basket of currencies — was eroding 
profit and undermining competit- 
iveness. A strong pound reduces the 
value of profit earned abroad when 
it is translated into the base currency 
of a British company. 


"While bookings maintain their 
buoyant trend, the strength of ster- 
ling has affected yields for the first 
quarter” through June, the BA 
chairman. Sir Colin Marshall, said 
at the annual meeting of sharehold- 
ers. Passenger yields measure how 
much the average passenger paid to 
be flown per mile. 

■ BA shares fell 1 pence Tuesday, 
closing in London at 685 pence. 

Also on Tuesday, BA’s chief ex- 
ecutive, Bob Ayling, acknowledged 
that the airline’s ambitious restruc- 
turing program was damaging staff 
morale. 

But-he vowed to press ahead with 
the changes, which sparked a costly 
strike by cabin crew last week. 

Mr. Ayting urged the main flight 
attendants union to follow the ex- 


ample of catering workers, who de- 
cided Monday not to strike over the 
planned sale of a long-haul catering 
unit 

The strike by the British Airline 
Stewards and Stewardesses Asso- 
ciation, which ended Friday, cost 
BA “tens of millions of pounds," 
Mr. Aylirig said 

He also responded to complaints 
by some shareholders that the airline 
was abandoning its national image 
by adopting new plane designs fea- 
turing images drawn from around 
the world. 

He said travelers outside Britain 
see the company as “slightly 
aloof,” necessitating the move to- 
ward a more international identity. 
.The new designs feature images 
drawn from such sources as Chinese 


calligr aphy. Egyptian tent paintings 
and Polish folk art 

In his remarks on the pound. Sir 
Colin took a swipe at the budget of 
the chancellor of the Exchequer, 
Gordon Brown, saying it lacked mea- 
sures to keep the currency in check. 

Since Mr. Brown made his budget 
public July 3, the pound has climbed 
23 percent . against the Deutsche 
mark and 2.7 percent against the 
French franc. 

The Bank of England has raised 
base interest nates by one quarter of a 
percentage point to 6.75 percent. 

Sir Colin said he was hopeful that 
BA would be able to surmount reg- 
ulator hurdles and be able to move 
ahead with its planned alliance with 
AMR Corp.'s American Airlines 
unit. ( Bloomberg , Reuters) 


Thomson Shares Fall After Paris Cancels Sale 


C.HKpikd ty Om Sufi 7rrtn PtfMkn 

PARIS — Shares in Thomson- 
CSF fell 5.6 percent Tuesday, their 
first day of trading following the So- 
cialist-led government’s decision to 
cancel the privatization of Europe's 
leading defense-electronics maker. 

Shares in one of Thomsoa-CSF's 
suitors, Lagardere Group, also fell, 
but shares in Alcatel Alsthom SA, 
an engineering conglomerate, were 
lifted by speculation that it might be 
given a minority stake in Thomson. 

The government repeated Tues- 
day that no decisions had been made 


on- potential alliances for Thomson- 
CSF as the cabinet weighed the next 
step in the privatization process. 

In the noarket’s first reaction to 
Friday’s cancellation, following a 
holiday weekend, Thomson-CSF. 
which is 58-percent state-owned, 
fell 6.1 francs to close at 163.50 on 
the Paris bourse. 

The stock has fallen 13.7 percent 
since May 26, the day after the So- 
cialist-led coalition now running 
France posted a strong showing in 
the first round of legislative elec- 
tions. Shares had risen 43 percent 


over the previous 12 months on ex- 
pectations that Thomson would be- 
come a cornerstone of Europe’s de- 
fense industry. ■ 

Lagardere shares fell 4 francs, to 
175. Shares in Alcatel Alsthom rose 
7 francs, to 772. • 

The month-old government of 
Prime Minister Lionel Jospin said 
Friday that it was canceling the pri- 
vatization begun by its center-right 
predecessor and would soon begin a 
new process aimed at creating an 
industry giant with a "decisive” 
public stake. That prompted press 


reports that Alcatel, which had put in 
an entirely French bid, would be 
allowed in as a minority partner in an 
expanded defense-industry group. 

"No choice has been made re- 
garding Thomson, as far as the op- 
erator itself is concerned, nor as far 
as alliances to be made are con- 
cerned.” a spokesman for Mr. 
Jospin said Tuesday. 

Alcatel and Lagardere were also 
rivals in a failed attempt last year to 
privatize Tbomson-CSF’s staie- 
owned parent company, Thomson 
S A. ( Reuters, Bloomberg ) 


Investor’s Europe 



■ '^oo 



'f m a m j j 

1997 

\ "fadex 


F M A M J J 
1897 


2200 


F M A M J J 
1997 


Smssate .-S6t43ft. V:.* . 


Erankfwt ■ / .* DAX : . ■' -> 


Copenfmgan' . SbxHi ffifcotwr- 

634^0 . 

HefeMW -V, .HEX GeriofaJ' .' . 


dsfo.'. y ... -.p&X..:... 

.68051 ■ 

London . .- FfSE-lbo. ' 

4,S9S^ff ■.4w^.4a : '^tiL8S 

fcfodtid - Slock Sxcher^e- 


'm an’ ■ l- 

.am" 

P aria ■. ■' 'CAC4&.-;.-; v-v-. 


Stoddwkn ' $X i(F. 

swan;, sss iwr.ljW 

Vienna ■ * • ATX ! . 


Zurich ■ • .-aw.: v 

■&G8^. :-SX63JS0 

Source: Telekuts 

IrurmaiinruJ Hurabl Tribune 

Very briefly: 


U.S. Says WestLB May Face 
Sanctions Over Loan to Iran 


The Associated Press 

WASHINGTON — Executives of 
Westdeutsche Landesbank Girozen- 
trale could be penalized severely by 
die U.S. government if the bank 
grants Iran a loan of $90 million to 
help reconstruct an offshore oil field 
in the Persian Gulf, Stale Department 
officials said Tuesday. 

The officials raised the prospect 
of sanctions against the German 
bank after a report of the loan was 
published by Iran, a daily newspaper 
in Tehran. "We have raised this 
proposed loan to Iran with German 
officials at appropriate levels,” the 
department said. 


Quoting Iranian officials, the 
newspaper said Saturday that the Joan 
would be granted to the state-owned 
Iranian Offshore Engineering & Con- 
struction Co. for the reconstruction of 
the 60,000- barrels-a-day Soroush oil 
field in the Gulf. It was heavily dam- 
aged during a war with Iraq in the 
1980s. The project is expected to cost 
$200 million and will take three years 
or more to complete. 

The Iran- Li by a Sanctions Act 
provides for sanctions on officials of 
foreign companies that sell a share 
of ownership in the development of 
Iran's petroleum reserves or lake 
earnings from such development. 


Former Russian Official Denies 
Wrongdoing in Bank Scandal 


Reuters 

MOSCOW — A former first 
deputy finance minister whose 
name has been Jinked to a po- 
tentially huge financial scandal on 
Tuesday denied any wrongdoing. 

‘ ‘All accusations against me are 
groundless," the former minister. 
Andrei Vavilov, said. "All laws 
and rules have been followed.” 

On Monday, the chairman of 
the Russian central bank had ac- 
cused a Russian commercial 
bank. Unikombank. of misappro- 
priating $500 million in govern- 
ment money, and alleged that Mr. 
Vavilov was involved. 

The central-bank chairman. 


Sergei Dubinin, said Unikombank 
was one in a chain of banks 
through which the Finance Min- 
istry had forwarded state funds 
intended for the Moscow regional 
council and the manufacturer of 
MiG fighter aircraft, MAPO-MiG. 
in the form of government bonds. 

When Unikombank received 
the bonds, he said, it sold them 
and kept the proceeds. He added 
that Mr. Vavilov had approved the 
payments, without informing the 
finance minister. 

Unikombank called the charges 
"absurd," and Mr. Vavilov said 
he was sure an investigation 
would clear his name. 


• Benetton Group SpA plans to buy a 57 percent stake in 
Benetton Sportsystem. a family-owned maker of Nordica ski 
boots and in-line skates, for 318 billion lire ($ 1 82 million), and 
acquire the option to buy the remaining 43 percent of 
Sportsystem by March 31 for 249 billion. 

• Bernard Arnault, the French entrepreneur who controls 
LVMH Meet Hennessy Louis Vuitton SA, is expected to 
present later this week details of his plans for a triple merger 
with Guinness PLC and Grand Metropolitan PLC. 

• VideoLogic Group PLC shares surged 9 percent to 41 
pence (69 cents), after the British maker of three-dimensional 
graphic microprocessors was asked by Intel Corp. to help 
design a video game standard. 

• The Office of Fair Trading of Britain criticized British 
pension hinds in a report for illusory performance, and 
unnecessary complexity in fund management. 

• The European Commission approved Italy's 2.75 trillion- 
lire bailout of Alitalia SpA. while ordering the money-losing 
national airline to cut its route network and reduce its staff. 

• Skoda Automobilova AS. a unit of German carmaker 
Volkswagen AG, said it sold 161,886 cars in the first half of 
this year, up 27.2 percent from the same period a year ago. 

• Renault S A plans to return to profit in 1997, helped by higher 
sales, the French carmaker's European sales chief said. 

• France's Socialist government is likely to sell Compagnie 
Finaturiere de CIC. The previous center-right government 
had to call off the sale of CIC, a network of a dozen regional 
banks, under pressure from unions. 

• Deutsche Postbank AG new chief has said he Wants the 
German government to privatize the company by May. 

• The French government is considering keeping nuclear 

reactor manufacturer Fra ma tome in the public sector, the 
company's union said. BUvmhtrfAFX Reuters 


WORLD STOCK MARKETS 


Tuesday, July 15 

Prices in local currencies. 
Tetekvn 

Htgta Low Oose Prw. 


Amsterdam 


«EXWkM.M 
Previous: 9411 7 


ABNAMRO 

Aegon 

AMd 
AWm Nobel 
Boon Co. 

Bob Wesson 

CSMevo 

DordKdieM 

DSM 

Elsevier 

Forts Anwv 

GeUMcs 

G-Braccvn 

Hoqenwyw 

Hemacen 

Hooqwem on 

Hunt Douglas 

INC Group 

KLM 

KNPBT 

KPN 

NeifflOydGp 

NufckJo 

Oce Grirfen 

PtiBlpsEJec 

Pfftwrom 

Rondstad Hdg 

Robera 

Rodonco 

PofaKo 

Roremo 

Unilever eva 

Vendcitnfl 

VNU 

WoflersKIcvo 


4120 

1S6J0 153.40 
181X7 775 

281 JO 279 JO 
155 152 

40 3130 
104X0 10ZIQ 
N.T. N.T. 


MU \ 
I54JQ 
J90J0 >?o.9Q 

153X0 15150 
40 1150 
103.70 103.70 
N T. 42190 

.40 713.60 


Hoecnst 

Karetadf 


22480 21150 225.40 
34.70 34.40 3450 34/0 
% 9S.10 9130 9190 


7151 

7141 

7160 

71.70 

7430 

n.% 

74 

71A) 

109 JO 

IUS.BU 

108.90 

106 

336 33110 

335 

.0* 

11430 1I2J0 

>13.80 

11J 

176-8U 

172JD 


17J 

1(060 

I01J0 

103 

103 

71 J» 

70.90 

71 

71 JO 

44J0 

41*0 

*430 

44 


4590 

333.50 

24450 

152JO 

106.70 

221 

200 

& 8.20 

WTO 

11760 

451 

11*20 

46.90 

2S9 


9180 84.40 8150 
MJO ASM 41.33 


132 

2*090 

14830 

10850 

m 
199.10 
67.70 
199 
11740 
4*150 
114.70 
46J0 
257 1 0 


33220 33220 
26*50 34150 
151 14820 
10850 106 

225 225 

199.10 197.60 
6720 67.90 
199.10 19860 
>1720 117.80 
44850 447.40 
115.70 11520 
4*20 47.10 
25820 25850 


High 

Deutsche Bank 10620 
Deut Telekom 43.15 
DresdntrBatfc 7 0.90 
Fresemus 355 

F resemrs Med 148 
Fried Kropp 350 
Gehe 12120 

HeWetoqZflni 156 
Henkel pfd 10520 
HEW 455 

8420 
8120 
629 

Unde ' 1325 

LuflhanM 35*0 

MAN 549 

Manennn 792 
Metalgeseflsdwfl 38.95 
Metro 219 

MundiRuedtR 6440 
Prevaoq 560 JO 
RW£ 7420 

SAP pM 40920 

Schema 198J0 
SGLCirtan ■ 25*20 
Siemens 11425 

Springer (Axel) 1670 
Suedzudkcr 

TTiyssen 

VeOa 
VEW 
Via 

iwrjen 


Low 
106.15 10620 
42J0 43.10 
70.10 7 020 
348 352 

145-50 14620 
346 347 

11830 11930 
I S3 155 
10330 10430 
455 455 

w* tiS 

625 62530 

81.70 8125 


Oase Prev. 


1325 

3515 

540 

790 

38.95 

218 

6400 


Vmg 

Vtfks» 


948 

436 

105 

570 

796 

147B 


1297 
539 JO 

JX 

217 JO 
6310 
550 5230 
7180 7420 
40230 40920 
19630 197 

2 SO 251 
11335 11*20 
1670 1670 

9*0 9*0 

430 43230 
10170 103.05 
565 5*7 

794 79530 
146314*730 


10730 

42.65 

M.90 

35630 

147.80 

35030 

12330 

156 

10*50 

455 

83 

80 

62130 

82 

1315 

33.90 

543 

799 

38.70 

21920 

4350 

547 

7325 

40530 

19830 

24930 

11*65 

1670 

948 

44030 

10350 

570 

79020 

1481 


High Law Close Prev. 

SA Breweries 141 140 141 141 

Sranarcar 42 4130 4130 *1-50 

Sasri 59 58 S8 58 

SBC 215 214 21*25 21*25 

Tiger Oiris 7250 7830 79 79 


Kuala Lumpur wate 10122 a 

Previews: 101550 

AMMBHdgs 
Genfing 
Md Broking 
MallrllSWpF 
PrironosGa* 

Pnrion 
PuWeBK 
Raw* 

Resorts Worid 
Roriiroans PM 
Store Dortn, 

Korn Mai 


High Law dose Prev. 


High Law dew Prev. 


High Law Close Prev. 


UMl/tRSes 737 727 735 

Vendonse Lxiih *73 
Vbdofone 
Winn rood 
W*bms Hdas 
Wffirln 
WPP Group 
Zeneca 


7J6 

*66 *46 *67 

2.97 2.90 2.92 195 

835 820 830 822 

326 323 126 324 

*63 *ST *59 441 

2*4 2.28 2.41 740 

2106 2155 2199 7139 


Paris 


TcMiimMal 
Utd Sinews 

m 


15.10 

1450 

15.10 

1460 

1130 

11 JO 

11JB 

12J0 

25JS 

25 

2JL25 

2515 

490 

4*5 

« 

470 

8.75 

8J5 

170 

11.10 

11 

11 

11.10 

3.96 

3J8 

194 

3.94 

116 

108 

114 

112 

BJ0 

7.9a 

7.95 

R40 

24J0 

2425 

2630 

2630 

8.15 

8 

8.10 

8.10 

>1 

10 JO 

11 

11 

11 JO 

1080 

11 

11.10 

18 

I7JQ 

17.90 

18 

4 65 

460 

465 

635 


Bangkok 


SET Indek: *25.6* 
Previous:*] L91 

AdvfnfoSvc 

73* 

214 

23* 

m 

BongVoL Bk F 

247 

734 

7*0 

23* 

Krurte Thai Bk 
PTTEkptor 

33JS 

fi 

J12i 

42.75 

39* 

m 

ar. 1 

38* 

Sore Cement F 

532 

510 

532 

50* 

Stare Com E* F 

119 

115 

116 

IIS 

Tctecuroatia 

3450 

3450 

36 JO 

XX 75 

Thai Airwan 
Thai Farm Bk F 

SI 

144 

*825 

139 

5* 

1*0 

49 50 
136 

Uid Carom 

113 

107 

106 

110 


Bombay 

Baiei Aula 
Hmdirst Lever 
Hindus! Pcttm 

Ind Dev Bk 
ITC 

Matanaoar Tct 
Returnee ind 
State Bklndn 
Steel Authority 
Tola Eng Loco 


Sana30MBu4m.fi 
Prertaes: 422182 

854 818 826.75 84BJ0 

1365 1335 134J 75135630 

495 48* 488 48325 

102 9550 96.75 99 

51750 50250 51*75 50750 
29425 28550 288.75 285 

357 35550 35050 348 

344 336 344 33*30 

2525 2 4.75 7*75 2550 
429 flj 41750 *26 


Brussels 


BEL-20 bbJou 2489J1 
Proton: 858132 


Bans ma 

BBL 

CBR 

Cobvyl 

MhauoUofl 

Efedrabet 

Etodrotbn 

Forti-, AG 

Gevaeit 

GBL 

GenBanqw 

KredteSank 
Prtrafma 
Ptraerfin 
Rome Beige 
Sac Ccn BOg 
Sohmy 
Trortefeel 
UCB 


16400 

7710 

9760 

3190 

19000 

1950 

7830 

3570 

B 100 

3380 

5950 

14900 

15150 

13*00 

4975 

11100 

3640 

21*25 

14975 

140000 


1*100 

7630 

9510 

3155 

18750 

193 

7720 

354) 

WsO 

3940 

5900 

14625 

1*825 

■3300 

4930 

unco 

3555 

21*50 

1*825 

135900 


1*250 16200 
7700 7410 

9510 9790 

3185 3190 

18825 19125 
1935 1940 
7730 7050 

3550 3570 

8030 7980 

3780 3270 

5900 JMP 

14750 1*925 
1*825 15150 
13400 13325 
4965 4950 
11050 10950 
3575 3650 

21500 21400 
14975 14350 
117600 135200 


Copenhagen stock nda:«3uo 

^ 9 PrevtoH.-632Ji 

80 Bonk 
CarkhorgB 
Codon Fon 
Danrsco 
DenDarekcBfc 
OSSrerMbrgS 4HW0 775275 Sim 7/4900 
0*19128 280000 273500 279000 273000 

FLS Ind B 2 15-59 229 731 230 

Kob Lufllrarme 781.95 769 775 

Nre Nordnk B 


401 

393 

393 

4» 

368 

367 

3*7 

365 

99* 

BSS 

985 

965 

413 

405 

409 

412 

745 

734 

743 

742 


Helsinki 

KEXGewRfftadex: 3*2460 


Previous: 341 7*n 

EnsoA 

50 JO 

49 JO 

*950 

49 JO 

HutrfonaiMI 

23* 

735 

23i 

237 

Kenura 

S2 

51 JO 

52 

5130 

Kesko 

77 

MAO 

7/AO 

77 

Metric A 

21 

20 

21 

2030 

Metro B 

174 

172 

17* 

174 

Matw Scria B 

46 

**J0 

44J) 

4S30 

Neste 

138 

13710 

137 JO 

137 

Nokia A 

430 

423 42420 

42830 

Orion- Yhtynw 

197 JO 

197 

197 

19/ 

Dutelumpu A 

105 

104.50 

10*50 

IDS 

UPMKviwnene 

136 

13*10 

IJSJ0 

135 

Valmet 

9080 

90 

9030 

90 JO 

Hong Kong 

HaeaScng: 15*87 J4 
Prevfoos: 15370.94 

Amoy Props 

6*0 

820 

S3S 

435 

BkEcsl Asia 

3230 

31.70 

3130 

*2.10 

Caftwy Pacific 

15-25 

1*70 

15.20 

1*70 

OKunqKrxr] 

77 3D 

76 

76J5 

7735 

CK Irrfnnfrud 

73*0 

2175 

2 Kb 

2X40 

China Lj*I 

4410 

4320 

At 

4X20 

atlcPodflc 

47.90 

4 & 8 O 

*7.70 


Doc Httw Bk 

4*60 

44 

46J0 

45 

Fust ParilK 

9J0 

930 

93S 

930 

Hong Lung Dev 

14.10 

1390 

1*05 

U10 

Harm Sohj Bk 

113 JO 

1/0 SC 

11? 

If? 

Henderson Inv 

itS 

BAS 

455 

865 

Henderson Ld 

69 JO 


6475 


HK China Gos 

•SJO 

IS2S 

15*0 

1535 

HK Electric 

3140 

31 JO 

32 

31X0 

HK Teiecomiii 

19.70 

18 SO 

19.55 

18*0 

HoaevcQ Hdgs 
HSBC Hdqs 

535 

255 

4.9S 

2*9 

510 

754 

5.10 

749 

Huktusort 'Nh 

67 J0 

66 

6*75 

6635 

Hyson Dev 

2320 

71AS 

3320 

2315 

Johnson O Hdg 

7X10 

2230 

27X5 

2230 

teeny Props 

1950 

1930 

19X0 

1930 

New Warid Dev 

49 

4730 

47 JO 


Onentol Press 

3 

2.9S 

Z.9B 


Peart Oriental 

1.17 

1.13 



SKK Props 
Shun Tak Hdgs 

91.75 

9050 

90,75 

97 75 

473 

4ja 

*70 


SreaUmdCa 

780 

7JS 

t.m 

7.75 

Slh CMn Past 

7.75 

7J5 

745 


Swire PacA 

69X5 


6475 


Wharf Hdgs 

3120 

32 

33 

jt to 

MieetoA 

IO 

17.95 

1425 

taio 

Jakarta 

Composite tadrou TtJjl 



Previous: 722J0 

Astro loll 

8525 


B525 


Bk Inti Indon 

W75 

1800 

1800 

1890 

Bk Negon 

1500 

1*50 

1*50 

15B0 

GudrmgCami 

9*50 

9150 

9175 

9*50 

Indovinefri 

*8 7S 

*vw 

4800 

4S50 

Indafaod 

S4S3 

S450 

569) 

559) 

Indosat 

7525 

7475 

747S 

7525 

Sowporeno HW. 

9*00 

V25D 



Seraen Gtesik 

4975 

4900 

4725 


Tctekamunikasi 

4000 

3925 

3750 

3775 


London 

Abbev Matt 

Ailed Donsecq 

Anglan Water 

Anjiss 

Asda Group 

Assoc Br Foods 

BAA 

Bar days 

Basa 

BAT Ind 

BankSaAnd 

Blue Ode 

BOC Group 

Boob 

BP8M 

Bid Aerosp 
SrtAJnmys 
BG 

Bril Land 
Bril Petto! 

BS*rB 
BntSteci 
Bril Telecom 
8TK 

BwmoJi CdsW 
Burton Gp 
Cable Wireless 
Cod burr Sdtw 
Canon Gocnre 
Coroml Urean 
Conrans Gp 
Cowfcids 
Dixons 

Etecfrocomponer 
EMI Group 
Energy Group 
ErAerurtse Oil 
Fom Colonial 
Gent Accident 
GEC 
GKN 

GkEuWeBconie 
Grenada Gp 
Grand Met 
GRE 

GfecnaBsGp 
Guinness 
GUS 


FT-5E l B0; 4899 J8 
Prevtos: 485740 


Hays 
HSBC I 


SophusBerB 
Tele Daflflik B 
Try? Borneo 
Umoonmcrt. A 


780 

770 667 770 750 
997 Wl 995 1000 
388 37186 388 379.62 


*36 

*» 


*10 

*3* 


475 425 

438 *38 


Frankfurt 

A/ABB 
Adidas 
Allan* Hdq 
Atom 
Bk Berlin 
BASF 


Barer 

Bcietsdori 

Be«og 

BMW 

CLAGCokHKI 
ComnierebarA 
Do inner Beni 

Decuiw 


DAX; 4121.13 
Prevton; 412*19 


1810 

1790 

1790 

1810 

278 

35 1C 

3510 

rwo 

*30 JO 

420 

420 

*33 

182 

179 

179 JO 

184 

3850 

3830 

38 45 

38JS 

*980 

<811 

48JD 

47 JS 

5)15 

5490 

56.9* 

5715 

77 70 

77.40 

7» 70 

ffl.25 

7*50 

7175 

74 

7195 

89 

88 10 

89 

89 20 

Ji 

4050 

40 JO 

41 

15** 

1531 

1535 

1539 

192 

190 

191.50 

isa 

57 80 

i?» 

S2s0 

5110 

149 35 

1 * 8*0 

149 » 

14860 

97 80 

67 40 

97 60 

93 


Johannesburg miiwm: 739 *** 

Prmow; 738058 

A^HWiiM Bks _»40 32.10 32J0 32J0 
AngtaAm Cod 266J5 26*50 24650 7 66 50 

AngloAm Coro 2*7 50 7*4 26750 26750 

AngtoAmOold 257 JO 256 261 261 

AmtoAmlnd Iki 191 192 192 

iVMIN 15 1*75 1*75 1*75 

6075 49.70 4950 4950 
IS 10 25 25 75 

1*635 165 165J0 16&S0 

32.75 3255 33J5 »?5 
M5G 3750 3750 3750 
20.10 19 75 1983 19«0 
9575 9515 24 tjjjs 

„ *7 61 'i 62 63 

75*0 25.20 2550 2530 
101 7 S3 2 «* 

65 **5u 65 l25 65J5 
368 366 366 3H 

141 75 141 U1.7S 141.75 

17*5 1775 17.75 

100 99 'S 1* 10Q 

1865 IB 35 M65 1865 

100 99.75 59 73 99,-5 
*650 45 rs 4& ;o am 
70 50 70 70 -S 70 ;s 

75J5 74.75 rs SO 7553 


AV 

Series* 

CG. Smllti 

DcBwr. 

Welontein 

M Kail 61 

ijmcw 

GFSA 

Irosaroi Hdas 
Inqw Cool 
Isrw 

J dimes Indl 

Liberty Hdas 

Liberty Lite 

UDLiteStno 

Minora 

Karnpok 

Nedcor 

PeroDfondl Go 
PrJienninl 
Rust Ptahpum 


HKJgs 
K3 

Impi Tobacco 
KrvjMwr 
LDdbro*e 
L and S ec 

Le?riGenlGro 
Uoyds T5BGp 
Lucas' Vretiy 

f.VulL SpCOCCT 

WEPC 

Usturr Asset 
Notional Grid 
Matt Power 
NfltWest 
Ned 

Nonucfi Union 

Orange 

P&O 

Pearsoa 

PflX*iglon 

PoweiGen 

Premier Fme* 

Pnidenbri 

RoUreckGp 

Rank Group 

RecMlCoki 

Retfland 

Reed bltt 

Rentokf total 

Reuters Hdgi 

Rotot 

R7.1C Group 

Raffs Rayce 

Royal Bk Scot 

RTzim 

RawlSSunAH 

Soretrey 

Sdffibury 

Sduoden 

Sat Ncvrcasde 

SutRHHer 

Seairicor 

Severn Trent 

SbHITimspR 

Srebe 

5m dh Nephew 
SmritiKBnc 
Smiths Ind 
SthemElec 
SttWCnodi 
Stand Cbartcr 
Tale 6 Lyle 
Tesco 

Thames Watei 

3i Group 

TIGroug 

TanUiK 

Urrtr-ef 

Utd Assurance 

Utd News 


4*6 

835 

857 

861 

4J9 

45 a 

*58 

452 

7.93 

768 

762 

763 

6.2S 

405 

6J5 

6.09 

7X6 

1X0 

1X5 

1X2 

5X4 

533 

5X2 

536 

5.94 

562 

891 

565 

1266 

12X0 

1155 

1232 

452 

837 

848 

831 

SJ4 

5X1 

5lS0 

5X8 

*3* 

*25 

*31 

422 

430 

405 

*17 

406 

1065 

10.40 

1063 

1035 

410 

7.88 

8.08 

762 

106 

199 

103 

3.06 

13X9 

1337 

13X1 

1335 

6.92 

477 

665 

666 

2X2 

237 

137 

238 

6X7 

6X0 

6X5 

6*0 

7.99 

767 

7.98 

7.90 

4J7 

4X5 

45D 

452 

151 

130 

151 

162 

440 

4X7 

450 

4-57 

2 

1.95 

1.97 

1.96 

10 

968 

9.98 

9.95 

1.29 

136 

138 

13* 

6.02 

565 

899 

583 

5.94 

566 

889 

871 

5.21 

5B8 

813 

519 

7.06 

495 

499 

7.04 

*.17 

5.97 

414 

5J9 

116 

335 

817 

309 

5.84 

56S 

883 

5-54 

15 4X0 

437 

438 

430 

11.14 

10.95 

11 

1163 

452 

444 

6d 

6X4 

762 

496 

497 

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i.n 

16? 

1.71 

169 

9.0* 

896 

9 

904 

183 

366 

3. *8 

179 

1035 

10.05 

10.07 

10.15 

1193 

I1M 

1887 

1349 

7.83 

767 

7.69 

764 

417 

401 

406 

611 

182 

175 

262 

27* 

4.69 

*63 

4*8 

470 

609 

6 

406 

6.12 

4* 

405 

425 

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5X6 

5.77 

881 

539 

20X1 

18*0 

20 

194)7 

490 

875 

868 

882 

X66 

161 

843 

364 

737 

7.18 

733 

7)4 

2S8 

14* 

2J5 

3X9 

9X8 

93* 

9X5 

93* 

170 

267 

869 

170 

438 

433 

434 

435 

498 

475 

496 

665 

1.94 

1.91 

1.93 

1.93 

181 

565 

877 

5J9 

5.08 

5 

503 

809 

1198 

1260 

>265 

1199 

5-50 

2X3 

?xa 

2X5 

5LSS 

5X3 

850 

5X3 

865 

848 

835 

Bid 

730 

7.40 

7X6 

731 

337 

3J2 

823 

330 

112 

266 

810 

107 

633 

603 

451 

6X3 

481 

664 

46? 

677 

131 

1.17 

1.18 

1.19 

760 

761 

734 

767 

4X7 

460 

462 

46? 

419 

A.10 

414 

*07 

734 

732 

731 

721 

170 

148 

853 

366 

939 

9J5 

936 

9X0 

3 

191 

196 

190 

5.90 

S60 

882 

569 

230 

llx 

81* 

233 

6 

568 

899 

569 

130 

233 

825 

2JS 

9.25 

962 

931 

9.05 

235 

7.1* 

723 

2.1* 

463 

413 

434 

64)7 

10.07 

9.97 

10 

10.10 

A69 

463 

4*6 

465 

IBB 

3.02 

3 S3 

IBS 

443 

*23 

*33 

*23 

17.70 

17.57 

1763 

1766 

736 

738 

>J2 

7X1 

451 

4X* 

4*6 

450 

174 

265 

8*5 

2*5 

880 

865 

8.76 

863 

438 

427 

424 

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10.15 

1008 

10.12 

10 

1.73 

16* 

1 72 

1*5 

12*3 

1260 

1255 

1234 

732 

7.27 

7.3D 

730 

475 

467 

473 

471 

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dVB 

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1064 

97* 

1061 

9.77 

436 

432 

434 

435 

433 

434 

431 

430 

779 

760 

772 

7J9 

475 

*90 

492 

*90 

494 

488 

492 

487 

188 

287 

787 

263 

17X7 

1730 

1763 

1754 

4X4 

425 

432 

4 33 

7.15 

70S 

Ml 

MS 


Madrid 


Baba todac *19J9 


Pnvws: 428.10 

Acerinox 

2B500 

27510 

77700 

7&S70 

ACJESA 

1885 

1830 

1830 

32 

Agwis Broceton 

<SCW> 

5990 

9040 

AjjBiwin 

BBV 

9*00 

130*0 

9180 

12890 

92 SO 
17)40 

9600 

12990 

Barista 

IS0U 

1480 

1480 

1*95 

BanMnta 

27400 

UXOO 

7*600 

77TW 

Ben Cento Hisp 

6080 

m 

*000 

40/1) 

Ba) Pawrior 

38100 

35750 

3SV90 

28000 

Bco Santa rider 

*740 

4*70 

4*95 

4750 

CEPSA 

4970 

*930 

4930 

*995 

Conrinaite 

3350 

3JW 

331S 

3345 

Leap iwoptre 

9170 

m> 

yo*o 

9000 

Endesa 

12850 

12580 

17*10 

12760 

FECSA 

1310 

1245 

1245 

1300 


32000 

31710 

31710 

3)800 

Iberdrola 

17B0 

1755 

1770 

1785 

Piyca 

3225 

*165 

31*5 

3200 

Repsd 

*550 

*4*0 

*480 

6550 


148S 

1*55 

1*55 

14/5 

Taboartera 

8*W 

81.5) 

8140 

W50 

Tetefartca 

4515 

*410 

4430 

4S7S 

Union Ferrasa 

1250 

■270 

1740 

1250 

Valenc Cement 

2*00 

2550 

25*0 

75*0 

Manila 


PSEtoteL- 2*5564 


Previdtrs: 2710 J3 

Ayala B 

18 

17X5 

IB 

17.75 

AmbLand 

BkPWipIsi 

22.73 

Zt 

?2 

27 

151 

149 

149 

153 

C4P Homes 

9X0 

8.90 

9 


Manila Elec A 

85J0 

K4 

BS 

85 JO 

Metro Bank 

555 

MS 

850 

555 


*50 

*10 

620 

*60 

POBank 

242 

747 

242 

242 


9*5 

VJU 

935 

9*5 

ScnTAHjudB 

*2 

*1 

41 JO 

6350 

SM Prone Hdg 

730 

7.10 

710 

7 

Mexico 


Baba irotor <*91 6i 


Provioos: 477767 

AHoA 

5630 

SS«0 

S5 70 

56 50 


1964 

18*0 

19.70 

19 5* 


39*0 

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38.40 

3*65 

OtaC 

1380 

UJ6 

M 

13.80 


4770 

**.ro 

*4X1 

V 70 


56*0 

W50 

55.70 

$660 

GpoF Banner 

2*8 

2J* 

344 

249 

GpoRn Inbuna 
Kimb Oort Met 

3600 

3560 

3560 

3t.J» 

35.75 

IL7S 

3*6$ 

3$ 85 

TetevisaCPO 

118J0 

11670 

11830 

II9H0 

TetMeaL 

20 70 

20X0 

20 30 

20 80 

Milan 

MIBTetenatico: 1410400 


Pmtoes: 140*0-08 


1 51 ffl 

14735 

14985 

1*9* 

Bca Corm Ikii 

4*70 

*JW 

**70 

*375 


S900 

S6S5 

5495 

$8X5 


1588 

1470 

1ST 

1*40 

Benetton 

2690Q 

25/50 

7*000 

76/00 


3750 

3*0Q 

3400 

34*0 


8780 

MM) 

8750 

8790 

ENI 

10210 

10 ms 

10100 

102*5 

FW 

6500 

6M1 

4500 

6375 



32800 

31WD 

32850 

IMI 

1*100 

15775 

15SOO 

15935 

INA 

2615 

25TO 

WD 

7*05 


5640 

7640 

5*00 

7500 

5305 

7580 

5375 

7450 


11510 

1I77S 

11300 

11480 


1149 

iin 

U» 

1143 

OtvetS 

47350 

4*5 

*4950 

*73 JO 


2500 

7*85 

2410 

2505 

pmni 

4500 

4M5 

*4*5 

*20 

RAS 

14805 

14770 

1*750 

1*375 


73800 

73000 

73800 

22450 


1X550 

l*W) 

1*000 

1*450 

Stet 

10790 

10500 

10*55 

10*70 

TetecoralWto 

*000 

HL'tO 

WO 

5875 

TIM 

5700 

5575 

557$ 

SMS 

Montreal 

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Previous: 3598X4 

BCeMobCom 

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Cdn Tub A 

28 

27.95 

2/9$ 

28 

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3835 

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3310 

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1885 

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GFWestUfeco 

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334 

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N.T. 

NT 

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Nutt BkCmda 

1830 

77 95 

1605 

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34M 

**J0 

3J<< 

3*'. 

OurtecorB 

2785 

n « 

17 't 

?7 60 


9.95 

9'; 

995 

9 55 

Royal 8k Uo 

M.«0 

ii6L« 

frS’l 

*6.« 


CAC-40: 29S0JB 
PrevtoOS: 294159 

Accor 9*0 941 944 953 

AGP 70170 198 199.10 198 

A* Ltouide 978 970 972 972 

Martel AJsftl 790 767 772 765 

AXA-UAP 37190 JTLtO 37190 373JB 

Bancanr 749 726 732 736 

BtC 9» 923 950 937 

BNP 257 249 JO 2S6J0 251 JC 

Canal Plus 1113 1151 1164 1177 

Cnrrefour 4345 4300 4316 4305 

Casino 39340 28130 287 273 

CCF 2*0 257 256 . 257 

Ceteten 715 702 701 711 

Chnstnn Dior 996 935 991 990 

CLF-fVoo Fran 577 570 S75 568 

Credit Agnoote 12S31012S3.10I7S110 1265.10 


Electrolux B 
Ericsson B 

HemesB 

IncetifireA 

Investor B 

A toOoB 

Nontbcrnken 

PtiamifUptoliii 

SandvkB 

Sarnia B 

SCAB 

S-E Bonken A 
Skanrfia Fan 
SkartskaB 
SKFB 

5portwn7.en A 

SfcnA 

Sv Handles A 
VbtvoB 


643 
33050 
311 
700 
426 
266 JO 
26B 
79550 
2ST 
233 
176 
91 
328 
350 
220 
19* JO 

131 

2S5 

21150 


639 
326 
313 
694 
420 
264 JO 
266 
288 
247 
232 
170J0 
1950 
32250 
34650 
209 
182 
128 
250J0 

2 M 


6*0 a*; 

328J0 329 

331 320 

698 695 

421 42s 

26450 26SJ0 
M7S0 M 
2S8J0 285 

717 S3 -255 
233 23250 
172 176 

91 91 JO 
324 328 

350 34 

212 212 
187 183 

130 130 

25050 25$ JO 
206 711-50 


Danone 
EH -Aqadaine 
EndanioBS 
Furodisnev 
Eurotunnel 
Gen.Eoux 
Havas 
Iroetal 
Urtarge 


m 98 ? 991 979 

469 654 664 661 

883 847 864 880 

a*o lio uo uo 

7 J0 6.75 685 7J5 

746 733 743 728 

*2190 414 415 *M30 

799 773 785 770 

389 80 386 388.10 391 

Lcarond 1145 1130 1145 1127 

LtJrcol 2510 2466 2495 2460 

LVMH 1591 1555 1579 1571 

Sue* Ijron Earn 6H 646 6*9 6*5 

MfdiOT B 388 380 388 381 

Poncas A *15.90 *07 J 0 408 *12*0 

Pernod Ward 31260 305 30*40 3iai0 

PeugealOt 617 605 406 610 

Ptoautl-Pnrri 2970 7B81 7«5 2939 

Promodes 3649 2590 2638 2S«5 

Renault 15030 147.10 14950 1*6.60 
Reid 1775 1752 1 753 1780 

Rh-Poe*encA 2*2 25750 259 2*1.20 

yjrwfl 573 S50 553 5*5 

Sctmeidef 337 mW 336J0 330 

SEB 1090 1056 1 069 10W 

SGS Thomson S48 513 540 SOI 

Ste Generate 700 689 700 *93 

Sodexho 30*0 3002 3025 3050 

SI Gabo in 881 8*8 87* 869 

Suez 16.40 1590 16J5 16.K 

SynfhebtW 779 764 770 7*0 

Thomson CSF 16*20 155.10 163J0 169 60 

Total B 608 58* 593 *00 

llunor 11*70 IJIJff 11240 1 10*0 

Valeo J07 398.10 401 398 


Sao Paulo 


BrodescoPfd 
Brahnro PM 
CemiqPtd 
CESPPtd 
Coprf 
Elefrobras 
HautxjneoPM 
UqJit Servlctos 
UqWpar 
Pcfrotra. Ptd 
Poulrsto Lu7 
SMNaaanal 
Saira Cml 
TeWnpsPtd 
Tctemiq 
Tcterj 
TelespPId 
Unban co 
Usenmas Ptd 
CVRD Ptd 


1130 
MO. 00 
6 * 00 
7*00 
7320 

635.00 
660 JO 
55000 

439.00 

307.00 

105.00 
36.90 

9.70 
15700 
isa 00 

158.0? 
358 00 
4*50 
1270 
27.10 


1037 10.71 
810 00 810.00 
5600 56.99 
6950 7251 
21 00 7100 
58000 58000 
64SD0 64100 
530 00 5*0 010 
42530 C5H0 
28000 78000 
180 00 187.00 
3200 3530 
9 JO 9 JO 

1 45 JO 14950 
173.00 17X00 
15500 156310 
341410 34100 
43.90 4290 
17 40 12J4 
2540 263)0 


1140 

8 J 0.00 

6149 
7800 
7400 
64*00 
680 00 
59000 

470.00 
30600 

190.00 
36.99 
9.95 

15B-50 
18200 
167 00 

368.00 
45J» 
1X70 
27.10 


Sydney 


AD Oidhartot: >437X0 
PrevtoOS; 2*7380 


0X8 

8X8 

8X4 

0*9 

ANZBWng 

9.91 

9.48 

9-/5 

992 

BHP 

18X8 

1831 

1837 

1440 

Boral 

433 

488 

406 

*27 

Brambles Ind. 

2604 

74.74 

26 

7630 

CBA 

lte34 

1*.10 

16 U 

1637 

CCAreotH 

14.70 

1443 

1A5D 

14.70 

Cale* Myer 

640 

643 

64* 

649 


672 

650 

6J2 

655 

CSR 

501 

*J0 

*8V 

507 

Fast m Brew 

2J9 

336 

2 x 4 

2_Jrt 

Goodman Rd 

181 

1.79 

180 

l.dO 

ICI Auslrok 

12X1 

12X5 

1241 

2726 

1261 

Lend Lease 

2/34 

27 

27 41 

MlMHdgs 
Nai AustBank 

183 

1.7V 

181 

183 

1951 

19.10 

19.17 

19 61 

Nal Mutual Hdg 

7.11 

284 

20* 

2.IU 

News Carp 

637 

617 

619 

6X0 

Pocihe Dunlop 

1X8 

3x3 

3X6 

170 


484 

ATS 

478 

*8» 

Pub BroadaBT 

8 

788 

7 VO 

7.«/ 

KoTlnto 

21X9 

21X4 

21 JO 

21 XV 

SI George Bonk 

B.42 

8*2 

8X4 

441 

WMC 

7.75 

7X1 

7 65 

7.74 

WtestpocBUng 

WoadsidcPcI 

7.93 

1U8 

7X6 

1095 

7X7 
It IS 

743 

1135 

WuuhweUK 

All 

*03 

404 

4 11 

Taipei 

Stock Market rate*. 9555 . 9 s 
Prevraov 9S97J4 


isa 

1*7 

1« 


Cheng HvraBk 
Oiioo TungBk 

H9J0 

1530 

116 50 

11/ 

89 

35 

84 

K 

China DevdDari 

1*0 

183 

190 

ITS 

China Steel 

r> 

2830 

Ml) 

JB3C 

FirstBa* 

170 

1/7 

1/730 

lit 


66 JO 

65 

65 50 

th 


121 

ll» 

lib 

118 

MICaimnBk 

45 

*U0 

6330 

b-i 

Non Yo PtoSbCS 

75 

7030 

72 

)4 ;o 

Sirin Kmg LA 

It? 

107 

09 30 

10* 


142 

134 

3940 



54 

51 

51 JO 

w 

Vtd MK70 Elec 

167 

ISS 

163 

IS.I 

Utd «VoridChm 

*9 JO 

67J0 

6)30 

4*40 


The Trib Index Pr>C9S 65 0,3:00 p M New York rirrw 

Ml t. *« I 

World Index 
Regional Indexes 

Ast* Pacific 
Europe 
N. America 
S America 
Industrial Indexes 
Capital goods 

Consumer goods 
Energy 
Finance 
Miscellaneous 
Raw Materials 
Sense* 

UW/fres 

The Herald Trhune IW.-’fW Sr«* imjaxti tracks ttie US dollar values ot 

J&7 intomjttenjirv -enable stocks trow PS countries For more mformanon. a tree 
Br--+te: avai’afp ?v wnrrog re The Tni 7 maet iai Avenue Cnatie s as GduOs, 

S257 1 AiiieAy Ceiox France Compiled by Bloomberg Haws. 


tevel 

Change 

% change 

year to dale 
% change 

178.09 

-0.97 

-0.54 

+19.41 

129.71 

-1.43 

-1.09 

+5.09 

187^0 

+0.28 

+0.15 

' +1632 

208 31 

+1.05 

+0.51 

+28.66 

164.25 

-13.02 

-7.34 

+43.54 

228.66 

+1.42 

+0.62 

*33.78 

200.93 

+0.56 

+0.28 

+24.47 

T 93.26 

-1.65 

-0.85 

+13.21 

134.56 

-1 33 

-0.96 

+ 15 5* 

778.34 

-1.60 

-0 89 

+10.24 

189.52 

-1.21 

-C.63 

+8.06 

16639 

-2.47 

-7.46 

+21.17 

169 80 

-6.42 

-3.64- 

♦ 18.42 


Tokyo 


HMdwi 215: 20069.41 
Prenaas: 39228.72 


Seoul 

Decam 

Daewoo Heavy 
Hyundai Eng. 
kia Motors 
roreoEIPwT 
Korea Ewti Bk 
karoo Mob Tel 
LGScaUcMi 
PMunqAwiSI 
Samsung DBkry 
Samsung Etec 
Shmhan Bank 


CaiapoSJte tnOoi; 75SJBS 
Preniorc 7644S 

103000 99300 102000 103000 
7B0Q 7*30 7*80 7B0O 
21800 71200 21*00 21500 
14900 13400 13400 14500 
77700 77400 27400 77700 
5K)Q 5400 5560 5810 

*89500 475000 4 85000 *75000 
38700 35500 38000 37700 
67J00 o20CO 43OT *1700 
45400 4*600 *5*00 *5500 
67400 46500 64700 67600 
10*00 99S0 10100 I 0100 


Singapore 


Oslo 

Aker * 

BergnenDyA 
OnsMMaBk 
DennorskeBk 
Elkem 
HoHimSA 
r.voemer Asa 
Hank Hydro 
NonkeSkogA 
Nyinmed a 
onto asa a 

PetonGcaSat 

S n Pefkn A 

*sl« 

TronsoceonOtl 
StorotuwiO AM 


OBXwdet 480J1 
PrevtoDS: 675.99 


150 
186 
XdO 
30 20 
1*8 
a 

4*1 
■30? 
7?S 
139 
565 
17* 
1*5.50 
1 ** 
M7 5 it 
*7.70 


1*5 1*9 “B 
183 lElii 


2580 
M 
1*5 
*4 
*36 JO 
394 

it? nr so 
518 >3 

3*: ir* 

I** 1*4 

113 lit 
597*0 58.' ’Jj 
*7 *7 70 


76 

10 

1J6 

46 

*41 

407 

275 


14* 
IftiJO 
76 40 
30M 

I Jo 

as 

*37 

397 

2?0.50 

138 

561 

3*4 

145.50 

141) 

*7.10 


Asia Pk Brew 

CetcbasPac 

CriirDevtts 

CycteCwnogr, 

DoinrFwraW 

DBSfotelqn 

DBS Land 

Preser&Neave 

NKLand- 

JortMothnn* 

JdrdSrateroC 

KeppH Bonk 

■CcppdFcto 

KeppetLond 
OCBCfarckjn 
OSUiWiBHF 
Parkway Hogs 
Sembovanq 

Sing An tonsijn 
StorjlakS 
SlmjPressF 
Sing Tecillnd 
Sing Tetecanat 
Tat Lee Bank 
Utd Industrie* 
UtdOSrtBkF 
WingToiHdqS 
*-«yS doBov 


SjO 5J0 
60S < 

1120 1780 
1370 1110 
0 J 0 QJ9 
18.90 1840 
*66 45* 

10.10 990 

261 2J9 

7.M 7.15 

3.56 3J2 
164 SJO 
492 4.90 

402 190 

1480 1*40 
9JS 9.25 
650 64) 

7.10 685 

13J0 1770 
6.95 680 

2770 274) 
378 1*6 

760 7J4 

7.77 2.72 
in* )04 
1 5 JO 15 
X.I4 *08 


5.60 5J5 

6 6.10 
13 13.10 
I3J0 I3L» 
080 0 80 
1841 1880 
4J4 *62 

10 10.10 
160 2.40 

7.20 7.15 

156 U8 
3*0 3*0 

*90 *92 
* 402 

14*0 1*80 
9JD 9J5 
6J0 4J5 

7.10 6.90 

12.90 1170 
• 95 *95 

2760 27.70 
366 MB 
2 J 8 7J8 

7 7* 3.76 

1.05 I 0a 
1510 1520 
*10 4 1 * 


1 Nippon Air 
Arowoy 
AxMBto* 
AsaH Chan 
AsahlGMK 
Bk Tokyo MDsu 
BkYbtohaota 
Bndgatonc 
Conan 
OiubuEter 
Oium*u Etef 
DoiWpp Print 
Odd 

DoF kt* Kang 
Dtriwa Bar* 
DoHra Mouse 
DomoScc 
GDI 
Denso 

East Japan Py 
End 
Fanuc 
Fuji Bank 
FuS Pluto 
F^ttsu 
HacDIwii Bk 
HrindU. 

Honda Meter 

1BJ 

IHI 

Itochu 

ttO-YokOda 

JAL 

Japan Tobacco 

JUSCD 

kalteM 

KanmEtec 

kao 

Kmrasalii Hvy 
Kovw Steal 
ktokl Ntpp fty 
KkmBrowyy 
kobrSIwi 
Koroatsj 
KutMto 
iyorern 
iuEI« 


I1U 1140 
746 738 

3600 3550 

890 875 

6S9 645 

1050 10® 

7190 7140 
*78 610 

TOT 2790 
3350 3320 

7060 JOffl 
1970 19» 

19V 7540 

7S9 731 

1490 1450 

535 575 

13*0 1330 

892 877 

83*00 87300 
2830 7760 

VOto 57 1 On 
2560 2530 

4470 43*0 

1620 1560 

4370 4730 

1670 16*0 

1130 1130 
1310 1780 

JS7U 35110 
1710 16*0 

423 406 

577 565 

7050 69*0 
W 8 519 

89700 8860a 
J3W 3400 
615 603 

7180 7140 

1*60 1*40 

544 S3* 


11*0 11*0 
7*1 7J1 

3560 3590 

B9|) S9S 
651 *45 

1040 iOoO 
71*0 71*0 
*73 601 

7790 7830 

3340 33d 
70*0 7050 

19*0 19)0 
2570 7560 

752 77* 

1*50 1*70 

575 535 

13*0 1150 

®W 87g 
8730a 8280O 

7830 7810 

5790a wyto 
2530 755) 

*®0 4*73 
1580 Ia39 
47*0 SliG 
1660 1650 

1130 H33 
1300 1780 
1530 35*0 

ISOQ I 66 U 
415 477 

565 576 

7050 6720 
5J6 53* 

68700 S953a 
34«0 IDu 
403 *10 

7170 7I7D 
I MO leM 
51* w; 


Mitsui Fudosn 
Mitsui Twti 
Mura la M|g ■ 
NEC 
N*an 
NdckoScc 
Ntolendo 
Nipa Eror«s 
NiptMnOi 1 
Nippcn Steel 
Nissan Mster 
Hl.i 

Nanrote l-:: 

wn 

N 1 1 Oc:a 
Oil Fcp-r 
Osar. 3 Gc: 
Fob 
Rrwn 
5 a-u*3 S*. 

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'rur.\ : ecu. 
Soik £•>: 

■j>Mf n 
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Oicil 

Vri'-ci ► 

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Srrri4*7li.-“ 

s.-i-i.iui-.i :l-c 
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T-.tK.a-j :• r- -.r 

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Tut vu r Vas 
Icux Coro 
Term' 

Icsoan Pi ml 
Tucy in* 
Toshiba 
ler’-r 
Toy.! Ir.''. 1 
To, 'Jo ■Vclir 

V«i«k^s 3 h 

c » ;-.v s * . a- 


High 

Low 

Clash 

Prev. 

ISM 

ISM 

1510 

1530 

700 

757 

780 

7+3 

4)20 

J6M 

J720 

4M0 

1450 

l6?U 

I6.W 

law 

1970 

l g 20 

1970 

I960 

700 

UP. 

691 

*ei 

10400 

10200 

loan 

10500 

8*1 

878 

073 

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3*6 

3*7 

352 

66* 

»*5 

86* 

no 

:?s 

7W 

221 

227 

mo 

I *W) 

1500 

1490 

!IWS 

1070b 

IO°Tb 

HWb 

48Mb 

47J3S 

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65) 

»iS 

tW 

::s 

Hi 

3.5 

11* 

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160 

ltl( 

ra 

12320 

I3.»>: 

13100 

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M2C 

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3150 

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3*30 




SMO 

v :• 


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1750 

1250 


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vu 

1573 




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3.150 

33*3 

f-m 

3*.?0 

3950 

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Neiubndgc Nd 
Nonmda Inc 
Nonxn Energy 
Nffwn Tetecwn 
tiara 
One* 

Foncdn Peibn 
PeboCda 
Placet Dome 
PocciPtllin 
Potash Sosi 
Renaissance 
Rw Algoni 
Rogers Conte! B 
WaromCu 
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Swear 
Tdhsrian Eny 
TeckB 

Teleqtobc 
fell is 
Thcnison 
Tor Dorn Bunk 
T ronsolto 
TransCda Pine 

Trmi'j.'V FmJ 
TaJc: Hahn 
fv.vi3c.ld 
•Vcstrocsl Eny 
Atesion 


5460 


26 JO 


Law 

Close 

Prev. 

2795 

28.10 

27.9S 

*9 

*9X0 

69 JB 

28-v 

2845 

?8b0 

32te 

32X5 

33 

138X0 

140 

139 

1115 

12'h 

12J0 

28 40 

78X0 

28 

27.70 

27.90 

27*, 

2?'. 

22te 

23 

7041) 

20.70 

2a 30 

12.70 

12.90 

13 JO 

108(5 

III 

108' . 

3485 

3505 

35.30 

34X5 

34k. 

3*'.r 

25.70 

2500 

26 

54 

5415 

SJXO 

21.15 

7120 

21'« 

35-55 

3*'- 

36X5 

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7a 

24X0 

2*'.y 

5V j 

Site 

52.15 

2590 

7* 

26 

33' v 

33*0 

33.90 

4185 

*215 

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I* 1 .: 

16 60 

16.70 

7745 

?7te 

27.45 

61.60 

61.40 

*7 

29.05 

2990 

2905 

3.00 

590 

*05 

2580 

24.10 

2*05 

on-- 

92X0 

92 


Vienna 

Bcchlct L'ddeh 
o^tEionsi pin 
E A. Genera* 
EVU 

Plaohate-n Wien 
OV.v 

C*sl ElctJtn 
VA stohl 
VATech 
' ‘.'lencfberg Bau 


1037 
SdJO 
is 93 
1572 
52® 
1635 
857 JO 
607 JO 
7*90 
2610 


ATXiodexi 1398.14 
PfWtort: 1373.90 

lt»ro 102* 1035 

531 JO 53X50 5*145 
3371 3456 3495 

1512 1565 154* 

524.50 529 526J0 

l«18 1*2* 1*32 
8*9 JO 857 854 

5*8 *0520 60*65 
?**l 2*80 2*S7 

2570 2*10 2585 


Wellington NZSE-dmdex: 247M1 

Previous; 2585J2 


jrtNZcaldB 

caitet Kanord 
FMchChBWg 
FtotfliChEny 
Fte Itfi Cn Font 


*60 *J8 4J9 4J8 

IJ6 IJU IX* 137 

J.M> 3259 141 1*9 

*39 4J9 145 

fffl A 72 4 73 481 

101 1.97 2D0 1 9B 


34? 3J4 34) 3*9 

685 681 

1150 f f 3D tin MW 

708 701 20) 107 

900 8*s 8® 87? 

573 516 516 527 


Kyushu 

LTCB 


Stockholm »AMSSEgn:Ii 

109.50 107 50 109.50 ID? '41 
- III 


AGAB 
ABBA 
AssiDomon 
Ar Ira A 
Adas Capto A 
Autoliv 


1 10 50 108 JO 11050 

7*1 736 216 7« 

I5&J0 154 IH IV. 

237 228 230 731 

797 292 » M W 7VB 


MoruttiiH 

Moni> 

MolsitCamm 
Malsu Etec Ind 
Matsu Etec Wl. 

Mih^ihr.hi 

Mil'.uhRin Ch 
Mil .librJn El 
Mitsubishi EsI 
Mitsubishi Hvy 
Mitsubishi Mnl 

Mir-jiblshi I r 

Mrt-.Ul 


94T0 9310 
2010 1480 

JJ0 *77 
512 SO? 
70*0 2010 

4860 J690 

2J70 73J0 

1310 1300 

13*0 1320 

J 6 I J» 
*76 666 

1*20 1SW 
860 845 

."BO 7 70 

ir» i too 
1090 two 


93*0 v:a) 
I W 0 JJW 
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SI? Ill 
2010 71 1-1 
am jti/.’ 
tV’l 2*i 
imn iii.i 

nm i j 7 d 

161 I'J 
67i) 6'l 

leCO tell 
ft .0 8 ,.- 
7 "2 ." 1 . 

i.'Oy i"‘ 
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Toronto 

it.iS'.i Cars-. 

ABW*d Ch r»t 
Aten, i Alutr. 
Ant r. -vi Pol 
Bk Vanrroer 
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PAGE 20 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 


ASIA/PACIFIC 


SBC Forms Giant 
In Investing With 


Big Japanese Bank 


QwfxM bt Q» SkqfFnm Duputchn 

TOKYO— Swiss BankCorp- and 
Long-Term Credit Bank of Japan 
Ltd. said Tuesday that they would 
join forces in investment banking 
and money management, a move that 
could lift SBC’s standing in Asia and 
make it easier for LTCB to reach 
Japanese customers in Europe. 

SBC and LTCB will take a 3 
percent stake in each other to cement 
the project, which they said was 
designed to create a 1 'leading Japan- 
based financial-services provider.” 

The move marks SBC's bid to 
become a major player in Tokyo 
after Japan's financial deregulation. 

“We are very serious about be- 
coming a major domestic presence 
in Japan because we are really con- 
vinced that this big bang is for real,” 
said Luqman Arnold, Asia/Pacific 
chairman of SBC’s investment 
banking division, SBC Warburg. 

The so-called “big bang” is Prime 
Minister Ryu taro Hashimoto’s plan 
to make Japanese markets * 'free, fair 
and global” by breaking down walls 
among banks, brokers and insurers. 

The announcement comes as oth- 
er Japanese banks have linked up 
with foreign rivals this year. Nippon 
Credit Bank Ltd. joined forces with 
Bankers Trust Co., and Hokkaido 
Takushoku Bank Ltd. allied with 
Barclays PLC of Britain. 

“It seems to make strategic sense 
for both of them,” said Susanne 
Borer of Bank J. Vontobel AG in 
Zurich. “If they achieve their aims, 
we’ll have a win-win situation with- 
out tying up too much capitaL” 

SBC has been expanding in in- 
vestment banking since it bought 
S.G. Warburg for £860 million 
($1.45 billion) in 1995. Two months 
ago. the resulting unit, SBC Warburg, 
said it had agreed to pay $600 million 
to buy the U.S. investment bank 
Dillon Read & Co. 

SBC. Switzerland's third- biggest 
bank, and LTCB, Japan's second- 
largest long-term credit bank, said 
they would set up three joint ven- 
tures next year. 

The investment-banking venture, 
to be called LTCB-SBC Warburg 
Securities, will take over the compa- 
nies* global Japanese investment- 
banking business and will have a 
total capital of 60 billion yen ($527 
million), LTCB said. 

The money-management venture. 


to be called LTCB SBC Brinson, will 
provide global pension and mutual- 
fiind products for Japanese clients 
worldwide, the companies said. 

SBC and LTCB also plan to set up 
a private banking unit to offer money 
management to high-income clients. 

European banking analysts said 
the deal was the most extensive al- 
liance sealed yet by Western banks 
as Japanese regulatory barriers 
gradually melt under reforms. 


* 'Conceptually, it is an interesting 


approach," said John Leonard 
Salomon Brothers Inc. in London. 
“I think it will be a while before we 
see how it actually works.” 

LTCB not only stands to benefit 
from SBC’s global marketing 
prowess but also may get an im- 


proved rating from credit agencies, 
said Yoshinobu Yamada of Merrill 


Lynch Japan Inc. 

But while Standard & Poor 
Corp.’s reaffirmed its “AA-plus” 
rating for SBC on Tuesday, it left 
LTCB on its credit-watch list, say- 
ing it would “resolve the situation 
after taking into account the im- 
plications of the new business.” 
Commenting further on the own- 
ership structure of the joint ventures, 
the two companies said SBC would 
own 50 percent of the securities 
venture, with LTCB taking a AO 
percent stake and an unnamed part- 
ner holding a 10 percent share. 

When Tokyo lifts a ban on banks’ 
owning majority shares in subsidi- 
aries with securities and trading op- 
erations, LTCB will buy out the third 
party's stake, said an LTCB spokes- 
man who declined to be identified. 

( Reuters . Bloomberg, AFP ) 


What Currency Crisis ? 

But Official Says Tokyo Is Ready to Assist Asians 


CsKpUcd by Ota Stoff Fn*n Dtspatfm 

TOKYO — Backed by its enormous reserves and 
economic mnscle, Japan is preparing to aid Asian 
countries whose currencies have fallen victim to 
turmoil, analysts said Tuesday. 

As Thailand’s finance minister and other gov- 
ernment officials set off for Tokyo to elucidate that 
country’s currency crisis in talks with bankets and 
policymakers, a top Japanese finance official said 
that Asian currencies were not in crisis, even though 
several have recently dropped in 
value against the U.S. dollar. 

Eisuke Sakakibara, Japan’s 
new vice finance minister for in- 
ternational affairs and one of (he 
country's most influential figures 
in foreign-exchange markets. 


volatility in the region's currency markets and that 
the situation was “manageable.” 

Earlier Tuesday. Hiroshi Miisuzuka, finance min- 
ister, said Japan would coordinate with the Inter- 
national Monetary Fund, if necessary, to help sta- 
bilize Asian currencies that have recently tumbled 
against the dollar. 

Thanong Bidaya, Thailand's finance minister, was 


scheduled to arrive in Japan on Tuesday to discuss 
Thailand's decision to devalue the baht with Mr. 


said Thailand’s government took 
“extremely appropriate mea- 
sures” when it let its currency 
float freely on July 2. 

Since Thailand allowed the 
baht to float, the currency has 
fallen more than 15 percent 
against the dollar, hitting a record 
low of 30.80 baht Monday. It 
closed Tuesday at 30.25 baht in 
Bangkok. 

The Indonesian rupiah also fell 
Monday to a record low of 2,471 
to the dollar after the central bank 
Friday widened the currency’s 
trading band to 12 percent of its 
value from 8 percent The dollar 
closed Tuesday in Jakarta at 
2,455 rupiah. Also on Tuesday, 
the Philippine peso fell as low as 30 to the dollar, 
prompting the central bank to buy the local currency. 
The peso closed in Manila at 29.50 against the 
dollar. 

Mr. Sakakibara, who was previously director-gen- 
eral of the ministry’s International Finance Bureau, 
said he would keep paying attention to movements in 
Asian currencies. Japan, he added, would cooperate, 
if necessary, to help the financial markets regain 
confidence in those currencies. 

He also said the Bank of Japan had not been asked 
to use Asian repurchase agreements to ease recent 



Mitsuzuka and Japanese bankers. 

Mr. Thanong said in Bangkok 
that the main purpose of the mis- 
sion to Japan was “to build a 
better relationship” with gov- 
ernment officials and bankers in 
Japan. “Thailand needs a finan- 
cial alliance with Japan,” Mr. 
Thanong said. 

Tokyo has been quietly rein- 


forcing a cooperative framework 
throughout the region designed 


Eisuke 


kiv Umyc/Tbc Amcuicd Pica 

Sakakibara of Japan. 


to guard against external spec- 
ulative attacks on foreign ex- 
change markets. In the past it has 
happily left die job of currency 
cop to the United Stares, but (he 
gravity of the current situation 
has forced its hand. 

'‘Japan has always told its 
Asian partners that it did not 
want to be the big brother and 
that it has limited power in mon- 
etary matters,” said Mineko Sa- 
saJd-Smith, of CS First Boston. 
“Today, it’s the urgency which 
forces Japan to reluctantly take the lead.” 

Taking the lead in a multilateral operation of such 
scale is a major first for Japan, ana a challenge of 
enormous complexity. 

Twenty-one banks have agreed to attend a lunch- 
eon Thursday with the Thai finance minister to hear 
him pitch his case, a Sanwa Bank Ltd. spokesman 
said. 

“Obviously, the Thai delegation cannot return to 
Bangkok empty banded," said Mr. Sasaki-Smith. 
“That would send a disastrous signal to the mar- 
ket” ( AFPJBloomherg ) 



■Ha s&Set®:; ■ • . • rmfa# 305^ ««. - 


Investor’s Asia 



j‘j . 170 ®F " M A M J J ' 
1997 

Tu&stiay 


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Source: Teiaicurs 

lnKnuihioal Herald Tribune 

Very briefly: 




* , 


QAF of Singapore to Acquire Indonesian Food Firm 


Cun'pfaf byOvSuffFnm Obputrkit 

SINGAPORE — QAF Ltd. of Singapore said 
Tuesday that it would buy 50.1 percent of PT 
Indofood Sufcses Mafcmur for 4.68 trillion rupiah 
($1.92 billion), in a move by the Salim Group of 
Indonesia to restructure its food assets. 

As pan of the transaction, PT Indocement 
Tunggai Prakarsa, (n do food’s parent company, 
will spin off shares of Indofood to Indocement 
shareholders. 

Indocement said the move would enable QAF, 
a food distribution and baking company, to de- 


velop a multinational food business. 

It will also separate Indocement' s food assets 
from its cement holdings, in a move that the 
company hopes will bolster its flagging stock 
price. Indofood is the world's biggest maker of 
instant noodles. 

"Our plan is to allow QAF to develop a pan- 
Asia food business to capture the tremendous 
potential in the sector,” said Anthony Salim, 
president and chief executive of the Salim. 

QAF. which has a market capitalization of 
only 568 million Singapore dollars ($394.5 mil- 


lion). plans to finance the acquisition through 
! raising 2 billion to 2.2 bimo: 


a 

massive rights issue raising 2 billion to 2.2 billion 
dollars and the balance through bank borrow- 
ings. 

Analysts said they were surprised by the size of 
the asset injection by the Salim Group into QAF. 
“There were market rumors about an asset in- 
jection, but we didn't expect it to be so sizable,” 
said Cheong Kok Wing of Merrill Lynch. 

Indofood is Indonesia's largest listed food 
company, with a market capitalization of about 6 
billion dollars. ( Bloomberg . Reuters i 


• Hong Kong's property stocks fell after the government 
unveiled a five-year plan to auction 157 hectares (388 acres) of j 
land for residential real-estate development, saying it was , 
confident of meeting a goal set by its new chief executive, 1 
Tung Chee-hwa, of building 85,000 homes a year to alleviate .. 
chronic housing problems. 

• Tokyo’s department stores registered a fail in sales of 5.6 i 
percent in June, compared with a year earlier, to 1 93.6 billion : 
yen ($ 1 .70 billion), as demand fell after the government raised .. 
the sales tax to 5 percent from 3 percent on April 1. 

• Agouron Pharmaceuticals Inc. and Japan Tobacco Inc. 
granted Roche Holding AG the exclusive right to sell their 
AIDS treatment, Viracept, in several Asian countries. Roche 
will pay the two companies $2 million each up front and an 
extra $2 million when the first country approves the drug. 

• Toyota Motor Corp. will acquire a controlling 76 percent 
stake in Aero Asahi Corp-, Japan's largest helicopter flight- 
service operator, for J 7 billion yen. in a bid to enhance its 
aircraft business. 

• Nomura Securities Co. engaged in some 250 illegal deals 
over fbur-and-a-half years, Japan's Securities and Exchange 
Surveillance Commission said, adding that it had advised 
Finance Minister Hiroshi Mitsuzuka to take administrative and 
otter action against Nomura for violating trading regulations. 

• Hong Kong's Airport Authority said it planned to borrow 
large amounts on offshore debt markets alter Hong Kong’s 
new airport opens in early 1998. 

• Malaysia’s consumer price index rose 2.2 percent in June, 
compared with the year-earlier period, but slowed from 2.5 
percent increase in May. 

• Japan’s industrial production for May. a key measure of 
manufacturing, was revised to a seasonally adjusted 4 J percent 
increase, from an initial estimate of a 3.8 percent increase. 

• Thai car sales fell 24 percent in June from the comparable 

period a year earlier, the biggest decline in five years, as a 
slowing economy, a stock-market slump and the closure of 
some lenders damped demand. a FP. Reuters. Bhtmhem 


Mondays 


Wednesdays 


Fridays 


and Saturdays 


are 



days. 


The IHT’s Intermarket regularly features two pages of classified advertising 

for the following categories: 

MONDAY Recruitment, Education, Secretarial. Internet Services. 

WEDNESDAY Business Opportunities, Franchises, Commercial Real Estate, 
Telecommunications, Automotive, Entertainment. 

FRIDAY Holidays, Travel, Residential Real Estate, Dining Out. 

SATURDAY Arts, Friendships. International Meeting Point. Nannies & Domestics. 


A great deal happens at The Intemiarket. 
C Uill Sarah Yl’ershof on +44 171 420 0348 



Tin: wonurs min \i wsp\i*i:r 


South Korea Banks to Rescue Kia 


GmpUnl by Ov Staff Fnrni Papuaim 

SEOUL — South Korean banks said Tues- 
day they would provide bailout loans to the 
troubled Kia Group under an anti-bankruptcy 
pact, but the conglomerate protested the 
move, saying it was unwarranted. 

Kia's creditors said that 18 of the group's 
38 subsidiaries, including Kia Motors Corp., 
would benefit. Kia Motors is the third-largest 
automobile company in South Korea. 

Kia was the third group to receive emer- 
gency loans under an anti- bankruptcy pact 
signed by banks to prevent unnecessary in- 
solvencies. 

“Since late May. hanks have extended 89 
million dollars in emergency loans to Kia. but 
we failed to solve its problems.” said Kwon 
Woo Ha. a Korea First Bank executive. “So, 
our decision was inevitable.” 

Bui Kia said the decision was “unilateral. ” 
and pledged to try to solve its problems in- 
dependently and without affecting its oper- 
ations overseas, including one automobile 
project in Brazil and another in Indonesia. 


“We neither asked nor wanted to be se- 
lected as a beneficiary of the pact," said Roh 
So Ho, a Kia spokesman. 

Kia Group had debts totaling 9.54 trillion 
won ($12 billion) at the end of May, according 
to the Korea Federation of Banks. 

A Korea First Bank statement blamed its 
financial crisis Kia subsidiaries. It said cred- 
itors would meet on July 30 to work out details 
of the package. 

The move is likely to spark a shakeup in the 
car industry here, which is plagued by excess 
capacity and a saturated domestic market. 

Kia's partner in Indonesia. PT Putra Timor 
Nasional, said its joint project was on track 
despite the South Korean company's troubles. 
Kia has a 30 percent slake in Timor's as- 
sembling unit and has been given technical 
assistance to rhe fledgling carmaker. 

Putra Timor is controlled by the Indonesian 
president's youngest son, Hutomo Mandala 
Putra, who was given tax exemptions to build 
a largely Indonesian car. 

(Reiners, AFP, Bloomberg ) 


RECORDS: Small Music Firms Thrive in Asia 




Continued from Page 13 


adequate stocks. 

In Thailand. Bakery and 
other independents, as well as 
the major labels, compete 
with the dominant player. 
Grammy Entertainment . a 
conglomerate that controls 
the country’s radio stations 
and record retail stores and 
has extensive holdings 
television channels. 


in 


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Grammy 's record division, 
which specializes in rhe re- 
latively conventional fare 
known as middle-of-the-road 
pop. controls three-quarters 
of the market, taking in $141 
million of the total SI 86 mil- 
lion music revenues in the 
country in 1996. according to 
industry figures. By contrast. 
Bakery generates only 53.5 
million in annual sales, ac- 
cording to Kamol Sukosol 
Clapp, the company's man- 
aging director. 

Bakery is the brainchild of 
Boyd Kosiyabong, a 27-year- 
old record producer, and Mr. 
Clapp, a music and philo- 
sophy graduate of New York 
University who relumed to 
ris native Thailand in 1992. 
In 1993 he formed his own 
company to challenge 
Grammy and other estab- 
lished Thai labels. 

Bakery continues to set the 
country’s musical agenda, ex- 
panding into rhythm and 
t»Iues, hip-hop and trance mu- 


sic — a hypnotic style of 
techno music ■ — by a female 
singer named Rik whose 
blunt interviews and perfor- 
mances over MTV Asia, a 
regional video music net- 
work. have drawn the ire of 
Thai censors. The rapper Joey 
Boy. whose albums have sold 
more than a million copies for 
the label in Thailand, is star- 
ring in a film to be released 
this summer by Bakery's new 
film division. 

Tbe label has just released 
a song in English by the Brit- 
ish singer Newton that aims to 
crack other Asian and inter- 
national markets. 

The largest independent la- 
bel in the region is Taipei- 
based Rock Records, which 
has eight affiliates across 
Asia. Founded 21 years ago 
by Sam and Johnny Duann as 
a spin-off of their local music 
magazine. Rock Records gen- 
erates $135 million in annual 
revenues and has started its 
own music video station. 


* 


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% 


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DINING 


^ ? v The World's Top Tables 


PATKK’IA Win 1.5 If you missed it in the JHT, look for it 
Fo,nt 1 run- on our site on the World Wide Web: 


I 


h^://www.iht.com 


-"fct 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 


->■ stocks 
lo auction 
■uskitL* de 




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surfactants in this detergent 


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Interesting prospects. That's what the global market has to offer companies who respond rapidly and flexibly to market needs. Which is why 


-H(ils AG is establishing us in the market as an independent limited liability company from January 1. 1998 - operating as a market player in our 

1 . ■ . 

own right. Combining all activities of the existing surfactants and oleochemicals divisions and SERVO BV into an independent company with 


‘ l :> 
K-' '.liii)' 


a clear: market focus is only one of the many elements within the Global Fitness Program of Huls AG which in future will take on the role of 


i/A / ' 


•WA-: 


1 ' 0 



strategic holding company. This opens up new market opportunities, paving the way for us to reach our ambitious goal of becoming a leading 
supplier worldwide. Watch this space for the name under which we'll be starting out. Surfactants Division of Huls AG, Marl, Germany. 

I 

Discover The Link To Life 























ItcralbSSribunc 


PAGE 22 


World Roundup 


Aussies Carry On 

Australian athletes who escaped 
injury decided Tuesday to stay and 
compete in the Maccabiah Games 
in Israel after an accident before 
Monday’s opening ceremony 
killed two team members. 

The two who died were Gregory 
Small, 37, and Yetty Bennett, 50, 
both lawn bowlers from Sydney. 
Seven others were in serious con- 
dition after a wooden bridge across 
the Yarkon River near Tel Aviv 
collapsed as the Australian dele- 
gation crossed into die stadium. 

“Let's get through this and show 
our true Aussie spirit,” Louis Plat- 
os, an Australian official, said to his 
athletes. fAPJ 

Basketball Player Dies 

A member of the Russian bas- 
ketball team at the World Deaf 
Games died Tuesday when he stuck 
his head out the roof window of a 
doubledccker bus as the vehicle 
passed under a bridge. 

Hie player, whose name was not 
immediately released, apparently 
stuck his bead out in a moment of 
high spirits. He was killed instantly, 
the authorities said. 

The accident occurred as the 
team was heading for a game 
against Australia. 

About 2,700 athletes from 63 • 
countries are participating in the 
games, which started on Sun- 
day. (AP) 

Marijuana in Driver’s Test 

KG hockey A second round of 
tests showed traces of marijuana in 
die system of Richard Gnida, die 
driver of a limousine that crashed 
last month, injuring three Detroit 
Red Wings, according to Richard 
Gorcyca, a county prosecutor. 

James O’Connell, Gnida’ s attor- 
ney, said marijuana traces “could 
have been from weeks ago, or from 
breathing in the smoke of someone 
else smoking it If he had been 
under the influence of marijuana, 
they would have found it the first . 
time.” 

Vladimir Konstantinov and 
Sergei Mnatsakanov, the team mas- 
seur, suffered head injuries and 
went into comas. Both remain in 
serious but stable condition. 

Doctors say Mnatsakanov has 
emerged from his coma, while 
Konstantinov remains comatose 
tat shows signs of improve- 
ment. (AP) 

Montgomerie Gets Richer 

golf Colin Montgomerie’s 10th 
place finish in the Gulfstream 
World Invitational at Loch 
Lomond last weekend made him 
the top career earner on the Euro- 
pean tour. His $25,958 prize took 
bis total winnings to $9.56 million, 
overtaking Bernhard Langer, who 
has won $9.54 million. (AP) 

Ginola Joins Spurs 

soccer David Ginola, a 
Frenchman who plays in the Eng- 
lish Premier league, completed his 
move from Newcastle united, to 
Tottenham Hotspur on Tuesday. 
The London club said Ginola had 
signed a four-year contract. The 
transfer fee was estimated to be £2 
million ($3.4 million). (Reuters) 

Wilkins Goes to Italy 

basketball Dominique 
Wilkins is returning to Europe. The 
37-year-old forward agreed to a 
two-year contract Tuesday with 
Teamsystem Bologna. Wilkins 
played last season with the San 
Antonio Spurs after leading 
Panathinaikos Athens of the Greek 
League to the European champi- 
onship in 1996. (AP) 


WEDNESDAY, JUtY 16, 1997 


Nabbing Yellow, Ullrich Is Poised to 


German Rider 
Finishes With 
A Big Lead 

By Samuel Abt 

Inunatumal Herald Tribune 

ANDORRA — With lOkiiometersto 
go in a vast journey over the Pyrenees, 
Jan UUrich made the move Tuesday that 
securely put him in the leader’s yellow 
jersey, probably won him the Tour de 
France and possibly stamped him as the 
dominant bicycle racer in years to 
come. 

Ullrich, a 23-year-old German who 
rides for the Telekom team, suddenly 
attacked as the star group of riders were 

rlimhing toward the finish of the 252.5- 
kilometer (157-mile) daily stage. 
Caught quickly after he rode off alone, 
he attacked again, and rhfo tim e nobody 
could follow him. 

He swiftly passed die few leaders 
ahead and rode strongly over the last 
five kilometers into the principality of 
Andorra to win by one minute 8 seconds 
and take the yellow jersey by more than 
two and a half minutes. The stage, con- 
ducted in sunny and hot weather, lasted 
7 hours 46 minutes 6 seconds from the 
French resort of Luchon. 

Marco Pantani. an Italian with Mer- 
catone Uno, was second and Richard 
Virenque, a Frenchman with Festina. 
was thud, reversing their finishes Mon- 
day. Virenque now ranks second over- 
all, 2:38 behind, with Abraham Olano. a 
Spaniard with Banesto. third, 4:46 be- 
hind. 

Ullrich's show of force was aston- 
ishing after five major climbs and the 
amount of work he did both Monday 
and Tuesday in the service of his leader, 
Bjame Riis, a Dane and the defending 
champion in the Tour. Until his decisive 


•w*-. j .. 

-v >»,- . 

i. 4 




B .......... . ... ... = : . 1 1 1 1 i w i » 1 "v 


Jan Ullrich of Germany pumping towards victory Tuesday in Andorra in the second stage in the Pyrenees. 


attack, UUrich had continually ridden 
ahead of Riis as a pacesetter. 

Then he bolted away, breaking the 
rule that a rider does not attack his 
leader. But his action was no surprise — 
he finished in front of Riis on Monday, 
ranked before him in the overall stand- 
ings, looked much stronger and had 
been expected to challenge him since 
die 84th Tour started July 5. 

Riis, who was reported to be suffering 
from dehydration because of intestinal 
problems, rode courageously to finish 
fifth Tuesday, 3:23 behind The Dane 
stands fourth overall, a big 4:53 behind 


as be attempts to win his second suc- 
cessive Tour. 

Last year in the Tour, UUrich finished 
second to Riis, 33, crushing him in die 
final long time trial. He is a decade 
younger and stronger. Not always does 
die cunning of age overcome the force 
of youth. 

“I’m very happy,” the German said . 
afterward, .“but the Tour is only half 
over. A lot of things can happen in the 
Alps.” 

Asked about bis new relations with 
Riis, he said, “We’ll sit down at the 
dinner table tonight and talk it out” 


The directeursportif, or coach, of the 
Telekom team, Walter' Godefroot, 
sounded ambivalent about die dinner in 
Andorra, a duty-free mall between 
France and Spain. Under his tutelage, 
Telekom was only a joint — read minor 
— entry in die Tour two years ago. Then 
Riis was hired and molded the team into 
a juggemanght that finished one-two in 
die last Tour and won the green points 
jersey too. 

Godefroot, in short, owes Riis a lot 
Asked whether he had told Ullrich to 
launch his victorious attack, the dir - 
ecteur sportif sounded defensive as he 


said, “Nobody made the decision. The 
race decides these things.” 

The new man in the yellow jersey 
confirmed that “We had die same tac- 
tics today as yesterday: Ride hard and 
see what happened. We had no dis- 
cussion about whether I should attack. 1 
.accelerated,’.' looked around. and there 
was nobody there. So I kept going.” . 

A longtime rider in the service of 
others anti] he became Telekom's lead- 
er two years ago, Riis knows how to be 
gracious in defeat. 

‘Tm happy for him,” be said of 
UUrich. “Superb. Extraordinary.” 

Sitting on the ground with three large 
water bottles at his feet after the finis h, 
Riis added, “The way he’s riding now, 
he has to take advantage of it. It doesn’t 
matter who wins the Tour for Telekom, 
him or me." . 

There were other heroes besides Ull- 
rich in this 10th of 21 stages before the 
finis h in Paris on July 27. 

One was Fabio Casartelli, the young 
Italian nder with Motorola who was 
killed in a crash in file Pyrenees two 
years ago. The riders paused at a monu- 
ment to him near the fatal site on the 
Portet d’Aspet. the day's first climb, and j 
offered a moment of silence in his' 
memory. 

Another hero was Cedric Vasseur, a 
Frenchman with Gan who had been 
wearing die yellow jersey rince Thurs- 
day. Not known to be a climber, Vasseur 
exceeded himself Monday by finishing 
20th in the fust day in the Pyrenees and 
keeping the overall leadership by 13 
seconds over Ullrich. 

This was the day Vasseur was ex- 
pected to fade into his accustomed ob- 
scurity, but he did not go gently. Raging 
bade after he trailed by two and a half 
minutes late in the afternoon, Vasseur 
not only caught the main group of riders 
on the final climb but also attacked 
than. 

For a final moment, he rode alone aa& 
tri umphan tly in yellow, the great stars of_ - 
the Tour struggling to catch him. 
Though he finally collapsed, finishing 
nearly eight minutes behind the winner, 
he honored his lost jersey. 


.L • 


■ 


WOODS: Tiger at Troon 

Continued from Page 1 

“I think he's going to have to earn their respect 
by coming over here and performing and earning 
their respect as a sportsman.” 

When Woods played his first practice round at 
Royal Troon -on Monday, a few hundred fans 
followed his foursome around the century-old sea- 
side course — a gallery equal to Nick Faldo's, the 
top English player. Playing in front of Woods, 
however, was Mark Calcavecchia, the American 
who won the last British Open played at Troon, in 
1989. Playing behind Woods was Tom Watson, 
who has won five British Opens. Only a few dozen 
fans seemed to care about either of them. 

“There definitely is a difference,” Woods said 
of the Scottish crowds. “I notice the people here 
are very respectful. When you say, 'Now is not the 
time for an autograph,’ they don't complain about 
iL They accept it.” 

That statement revealed Woods's occasionally 
narrow view of the universe. But then, from where 
he's standing it's probably like looking through a 
camera lens backward. 

“I also notice they don’t cheer for shots that just 
get airborne here,” be told his audience of re- 
porters. After the finely tuned sensation he has 
caused in America, be said, “It’s got to where 
they're not very respectful of your space. Here 
they’re very respectful. They understand you’re not 
here to sign autographs. They understand you’re 
here to play golf tournaments.' ’ 

He reminded his British questioners that he has 
received death threats and hate mail, which he 
called “nothing unusual,” and that he had been 
knocked over by an autograph-seeking mob near 
die 18th green at Phoenix, resulting in cut under his 
eye by a ballpoint pen. 

As he spoke it seemed that he was the player in a 
larger game. All athletes worth their millions work 
to establish an image, whether it's Dennis Rodman 
or Michael Jordan, who both play for the Chicago 
Bulls in the NBA 

But isolated from the more comfortable sur- 
roundings and questioned by many who were 
getting their first look at him, it appeared more 
obvious than ever that Woods — beyond his talents 



JSP' 




Agassi’s Crawl Back on the Ball 

After 2 Paltry Years, Former No. 1 Seeks a Comeback 






Gerry fciity/AgGBcr Fnnct-Prmc 

Tiger Woods joking with the press Tuesday. 

— is a creation of images. He is a multiracial man 
in a white man’s game, a vibrancy invigorating a 
bunch of country-club hemmers and hawers. 

Most important of all -to his image are the 
pictures of nim shaking his fist in triumph. In the 
press room he seemed intent on avoiding mistakes, 
and while the reporters approached him as if his 
talents were an expression of a deeper wisdom, he 
answered questions about himself in terms of the 
simple truths he is seeking to achieve. 

“One thing I believe in is not being a prisoner of 
your environment, and you’ve always got to be 
yourself,” he said. 

When an Australian reporter asked about Nike ’s 
use of child labor in developing countries. Woods 
said: “Actually, you’re the first one to ask thaL No 
one has asked me because I play golf. I chase a little 
white ball around, that's all Ido.” 

He admitted that he was still “a kid," and at 2 J 
it is a long stretch between the issues his presence 
creates and his ability to discuss those issues. 

Meanwhile, a gambler called a British book-, 
maker recently and asked to put £30 on Woods to 
become president of the United States by the year 
2020. He was given odds of 1,000-ro-l. “Why 
not?” said the bookmaker. "They had a failed 
actor, so why not a successful golfer?” 


By Robin Finn 

Nevi- York Tima Service 

WASHINGTON — He has 
been No. 1. He has come un- 
strung. And this week Andre 
Agassi, 30th in the world rank- 
ings but trapped in what he de- 
scribes as “a vapor lock,” is 
back out on the tennis court. He 
is learning to crawl again after a 
two-year spiral from the peak of 
a profession that continues to 
daunt and haunt him. 

Crawling does not come eas- 
ily. particularly before a public 
that Finds it hard to believe that 
such stars would do something 
so mundane. 

“But that’s what itfeels like,” 
Agassi said Monday as be 
bunkered, a tad resignedly, on a 
sofa in the presidential suite he is 
sharing with his bride of three 
months. Brooke Shields. Mar- 
riage has been a godsend, but 
Agassi and the tennis gods are 
still at odds. 

"I'm very challenged by it, by 
this starting over,” said Agassi, 
27. “Sometimes it makes me 
happy with myself in a calm 
way, sometimes in a sick, de- 
mented way, but at the end of the 
day, I feel like I went out there, 
hit the bail and had a purpose. 
I've played this game for a lot of 
reasons, and none of them have 
ever quite been my own, but this 
time my desire is to get out there 
and enjoy it. It's not easy, but at 
least I have a plan, and I think 
I’m making progress.” 


His return to duty Wednesday 
night at the Legg Mason Tennis 
Classic, after a 70-day hiatus, 
may signify progress, but it is not 
yet apretty process. 

“The ultimate for me is to win 
another of the Slams, to be a 
threat to my opponents, and to be 
at an event because I plan on 
winning it,” said Agassi, wbo 
has won three Grand Slam 
events and fallen in the finals of 
four others. “When I’m at my 
best. I'm winning Slams, tat the 
last filing I’m thinking about 
right now is winning Slams. I’m 
just trying to get back to file point 
where I can win matches. ’ ’ 

Even if he has to crawl back to 
that point? “Believe me, I’m 
much more at risk of leaving this 
game when I'm on top than I am 
when I’m down ana out,” he 
said. “I don’t like the feeling of 
being beaten by something.” 

So Monday afternoon, Agassi 
toiled in the steamy heat on a 
practice court at the event he 
selected for his latest re -emry to 
tennis. It has been a dismal year 
that has seen him post an un- 
inspiring 4-6 record on the ATP 
Tour and turn up missing at all 
three Grand Slam events. 

Some of his troubles are trace- 
able to recurring twitches in the 
wrist he had surgically repaired 
in 1994. Agassi would rather 
take a seat on the sideline than 
risk more surgery, hence his 
sluggish return to action after the 
wrist acted up in Atlanta. 

“I knew it would be a.night- 


mare to deal with that many balls 
on the clay, so that’s why I 
avoided the French Open, and 
then without enough play, I felt 
like I wasn’t ready for Wimble- 
don,” said Agassi, who won his 
first Grand Slam title there in 
. 1992. 

As for those who think be is 
using the wrist as a surrogate for a 
temperament that no longer hun- 
gers for full-time tennis, Agassi 
said: “If I want to avoid tennis, I 
won’t play, period. But I’m hoe s 
to play. Ana I’m here because lj 
chose to be; I don’t care what 
people think ray motivation is." 

Agassi has to prove to himself 
that this return to file courts “is 
the right decision done in the 
right way.” 

The last time he was a con- 
tender for the Grand Slams, he 
went into the U.S. Open un- 
beaten on the summer hardcourts 
in 1995 and obsessed with de- 
fending the title he seized in 
1994. Things were different 
then: He was No. 1. and it was up 
to Pete Sampras to stop him in 
the final. When Sampras did, 
Agassi’s slide began. 

“Losing in a final that way, 
with your body so beat up that . 
you can’t give your best on the 
day it counts most, it sucks the 
spirit out of you,” he said. 

“The facts are that you only 
start to be your best when you 're 
winning match after match," be 
added, “and like it or not. I’m a 
long way from thaL But with me, 
things can change in a hurry.’ ’ 


*: . . 










IYa 


Damaged Youth: Unhealthy Minds in Unhealthy Bodies 


Ki- 


el:- 


'tiff 




>7^ ■ . 






s" Ji '^^^tional editor 

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whafiGreg LeMond once described as 
the toughest fob in the world. . 

Pedaling for Glory (US$14.95) can 
be ordered thrducfri quality bookstores 
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Osceola, Wisconsin, USA 54020. 


By Rob Hughes 

huernutionul Herald Trthunr 

LONDON — If we were to judge 
a sport by the way it rears its young, 
soccer would be condemned as a 
negligent parent. But its conscience 
is beginning to stir. 

The medical committee of 
UEFA, the governing body of Euro- 
pean soccer, is developing a 30- 
point charter against physical over- 
use in childhood, against premature 
stamina training, against coaching 
ignorance that (hives youngsters to- 
ward competitive extremes before 
they have learned to enjoy and mas- 
ter the moving tall. 

At last! I see in this ihe guidance 
of Lennan Johansson. The avuncular 
Swede currently heads UEFA, and 
could become president of FIFA, the 
world governing body, next year. 

By his own admission, Johansson 
lacks political guile and can be an 
unguarded speaker. But he cares 
about the young; he relaxes at the 


take any conversation into overtime 
while enthusing on child’s play. 

Strange, then, that he presides over 
a European confederation that, while 
warning about neglected welfare is- 
sues in the sport, boasts a gross en- 
larg emem in its three club compe- 


titions to 439 matches this season. 

That expansion, spurred by 
money, is too much for players to 
bear. The preliminaries are already 
under way, in the summer heat, and 
tbe tournaments will run without rest 
until next summer’s World Cup. 

Over-use. Over-play. Over-tax- 
ing on players, some of whom, be- 
cause the quest for skill dips ever 
deeper into youth, will stilt be grow- 
ing in mind and body. 

It is veiy well spelling out, as the 
UEFA doctors do, that the sport has a 
duty to inform parents and trainers of 
the 75 per cent drop out rate among 
football’s adolescents. It is about 
time someone in authority issued 
guidelines about nutrition, about the 
folly of playing to win at loo young 
an age, about the dangers of forcing 
endurance training on children 
whose growth spurts make them vul- 
nerable to such techniques. 

The UEFA charter, when it is 
finalized, will call for psychological 
support, for screening of minor 
problems that grow into career 
threatening injuries and for efforts 
to combat the stress that comes pre- 
maturely to pressurized kids. 

What it doesn’t do is address the 
moral and ethical needs of a sport 
that breaks youths and young men in 
1 he pursuit ofbusincss. Tnte training 


cm 


should teach the boys — and given 
the expansion of women’s soccer, the 
girls — to take control of their own 
lives. 

Ronaldo, the 20-ycar-old Brazili- 
an. could do with this grounding. At 
16. he was a rising god of Brazilian 
sport, well aware that grown men, 
presidents of supposedly prestigi- 
ous clubs, were willing to bribe his 
parents for his signature. 

At 17. he passed through Dutch 
soccer, the protege and the scoring 

Would Soccer 

prince of PSV Eindhoven, but 
already in need of surgery on an 
overworked knee joint. 

At 19. the highest paid and most 
lauded player in Spain, he was voted 
FIFA’s World Player of the Year. 
And at 20, he is in rich limbo, wanted 
by every wealjhv dub in possession 
of his agents' telephone numbers, 
waiting for FIFA, the Spanish and 
Italian federations, and the European 
Union lo rale on whether he plays for 
FC Barcelona or becomes the most 
costly transfer in history, the new 
property of Inter Milan. 

If. as usual, money talks, he will 
join the 23 players richly assembled 
by the rival clubs Inier and AC Milan 
this summer. The managers of those 


clubs are not team-builders so much 
as turn-over merchants. 

Loyalty is a discarded virtue, an 
old language, like Latin. Sensible 
grooming, building up teamwork 
and relationships, is rejected by 
those chasing the fastest and the 
largest money pile. 

And who are the young men’s 
mentors, their “friends” and ma- 
nipulators in this new found player- 
power? The agents. 

Ronaldo, alas, has too many of 
them, and is too feckless in listening 
to them, and to Nike, a paymaster 
that wants him strategically placed 
to enhance its brand awareness. 

The advisers around Ronaldo, at 
leasr three of whom claim to guide 
his business, helped write the small 
print ihat allowed him to buy out his 
Barcelona contract for $27 million 
and then, by their interpretation, be a 
free agent on the world market. 

Barcelona made Ronaldo a 
counter-offer, doubling his $3.4 
million a season for this year and 
every year until he reached'sporting 
middle age. The boy, or the man that 
sooner or later Ronaldo has to be- 
come. was moved to accept: the 
agents and the putative buying club 
Inter dissuaded him. 

Massimo Moran i. the oil magnate 
owner of Inter, pronounced: “We 


have paid the sum necessary to cut 
the contract. I would like to remain 
within the law of football, but we 
shall see if that is possible or we have 
to go beyond those limits. Football 
has to join the real world." 

While the dubs haggle, and the EU 
argues with FIFA over the rights of 
an employee (even a non-European' " 
waking within its territory), another 
voice tells Ronaldo what he should 
do and where he should do it 

“Ronaldo was angry with us be- 
cause he warned to stay in Bar- 
celona," said Alexander Martins, a 
licensed soccer agent “We con- 
vinced him that it was better to go." 

They convinced him? Who, for 
heaven sake, is the master and the 
servant between 3 performer of ex- 
traordinary talent and the hired hands 
who draw a percentage off him? 

Ronaldo said he loved playing in 
Barcelona, he felt something for the 
shirt, he had a rapport with fhe fans. 
But he has yet to become man 




The last words, it seems, are the 
agent’s. “Sentiments.” insists Mar- 
tins. "are best kept to the Brazilian 
national team, in Europe, you play 
to earn money.” For whom? 

Roh Hughes is on ihe staff of the 
Times of London 




INTERNATIONAL HERALD TRIBUNE. WEDNESDAY, JULY 16, 1997 


PAGE 23 




SPORTS 


i the T« 


J *** <kz, 

chaTT-vil^ yt K 

ts cs today as v~, 5 ha d the • 

«= what »*•» 


Dodgers Chip Away 
At Rockies’ Hopes 


ocs todav as v«.« : n ^d ,k. v V 
sec what happened 3 ^, R «lci 

cossionaboutThX^Sl, 

accelerated, looked I ^Hd! 

others until he becam'V^^!' 
er two years 
g^ious in defeat 

‘I’m h» n .. 


The Assi\iaicd Press 

While Larry Walker gave his soaring 
batting average another boost, his team, 
the Colorado Rockies, took another blow ■ 
to their falling won-lost percentage. 

•'We’U forget about today,” said 
Walker, who raised his major league- 
leading average to .411 with a 4-for-6 


s, ning on the ° r r. Un ■ 
water bottles at fi; s 
Rus added. “The Lv^ r ^ 
he has to take he 


juuea. I he uiv j, ttet ■ 
he has to take adv^S*?* 1 S 

him urn-rtf.” ' Cur forty ■ 

rich in this^Ot^of r -*^ r ? es be *Hk 
finish in Paris on JuK ^* 4 'hfc 
One was Fabin r ' . 

Italian rider u,ih uS'! l h( 
killed in a cra ih ' 

years ago. The nd er .! u > 
mem to him near riffi?* 1 * 
^■d-Aspe,.,h.edaV.& 
offered a momem 0 | T* 8 
memory- 

Another hero w -I, r .j 
F recchman with Gan^fc 
weanng the Nellow |er JV* . 
dsy Not know-n to be j -i ,' m l Dt *. 
e^edhimsehV^^- , 
20tn m rhe first ±l-. in rK/psi? 7 ■ 
keeping Lhe overall | c -j^ i 

second.* over L llri eh ^ * 

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pecTediofadetnioh,*^ • 
Kimty buihea:dno;g 0affl n 
back after he muied t-. ‘ 

nunutes late in :hr u ' 

nor oni> caught the T^n ; 
on the finni c;:m'r r-u: -»] w » 
them. - 

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seeks a Comeback 


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performance Monday night in Color- 
ado’s 14-12, 10-inning loss to the Los 
Angeles Dodgers. 

■‘It's only July. We can still win the 
pennant,” Walker added. 

What about his .41 1 average? 

“I don’t want to talk about myself,” 
Walker said after Colorado lost for the 
10th time in 1 1 games to fall 8!£ games 
behind San Francisco in the National 
League West- 

Eric Karros hit a two-run homer in the 
10th for Los Angeles, which has won 10 
of 1 1 to move within three games of the 
First-place Giants. 

Padras 5, Giants 3 In San Diego, Tony 
Gwynn raised his average to .402 and 
extended his hitting streak to 19 games, 
going 3-for-4 with three runs batted in. 

Danny Jackson, acquired from St. 
Lou/s on June 13. allowed two runs and 
five hits in six innings for his first vic- 
tory with San Diego, 

Rickey Henderson, baseball’s career 
steals leader, swiped his 1 ,200th base in 
the sixth inning. 

Bravos io, PhilOos 6 In Atlanta. Tun 
Spehr and Ryan Klesko hit grand slams 
— the first time Atlanta has had two in a 
game since 1987 — as the Braves over- 
came a 6-0 deficit for their eighth 
straight victory over Philadelphia. 

Spehr, called up from Triple-A Rich- 
mond on Saturday, homered m the fifth to 
move the Braves within one, 6-5. Klesko 
added his 16th homer in the sixth. 


Scoreboard 


Astros 9, Cubs 7 Houston’s Ricky Gu- 
tierrez singled home the go-ahead run in 
the 15th inning in the longest night 
game at Wrigley Field, lasting 4 hours 
and 35 minutes. 

Brad Ausmus hit a grand slam in the 
seventh to give Houston a 7-6 lead. 

Rsds 4, Cardinals 2 In Cincinnati, the 
Reds scored three runs because of 
Fernando Valenzuela’s wildness, and 
Eddie Taubensee had an unusual pinch 
double. 

• After Scott Sullivan took over for Kent 
Mercker in the sixth. Cincinnati made it 
4-2 on an unusual move by its manager. 
Ray Knight, in the bottom of the inning. 
Pokey Reese singled and stole second as 
the count went full on Sullivan. Knight 
sent up Taubensee. who hit the next pitch 
for a run-scoring double. 

Valenzuela (2-12) gave up two hits, 
walked six and hit a batter in 2 2 A in- 
nings. 

Pirates 5, Mots 4 In Pittsburgh. Jason 
Kendall had a run-scoring double in the 
eighth to give Pittsburgh a comeback 
victory over New York. 

Pittsburgh had four consecutive hits 
off Greg McMichael and Cory Udle in 
the eighth for its 10th victory in 12 
games. 

Marlins s, Expos 4 In Miami, Jim Eis- 
enreich singled in the winning run in the 
12th inning as Florida rallied from a 
four-run deficit to beat Montreal. 

Bobby Bonilla hit a two-run homer in 
the sixth to make it 4-2. and Mark 
Kotsay and Eisenreich had run-scoring 
groundouts in the seventh to tie iu 

hi the American League 

Red Sox 18, Tigers 4 Boston baseball 
fans forgive easily. All it took for Wjl- 
fredo Cordero to eliminate the boos ar 
Fenway Park was a two-run homer. 

Cordero, jeered in his first 14 al-bats 
following his return to the Red Sox after 
an 11 -game suspension, was cheered 



. Hmn Hn Ihrjm-'I'-IIT 

Tino Martinez of the New York Yankees tagging out Tony Martinez of Cleveland as he tries to reach first base. 


when he homered in a five-run seventh 
inning. Cordero was 0-for-12 before 
gening two singles, then the homer. 

Boston, which scored its most runs 
since getting 22 at Kansas City on April 
12. 1994. had a season-high 21 hits, 
including eight doubles. Boston scored 
in six of the first seven innings. 

Orioles 9, Blue Jays 5 Baltimore 
snapped a six-game losing streak, scor- 
ing six runs in the seventh at Camden 
Yards. 

Brady Anderson. BJ. Surhoff and 
Geronimo Berroa homered for the Ori- 
oles. who hadn't won since July 4. 

Carlos Garcia and Carlos Delgado 
homered for the Blue Jays, who had won 
three straight games. - 


Royals 2 , Browers 1 Kansas City 
stopped its iongest-ever losing streak at 
12 when Scon Cooper singled home the 
winning run in the 1 4th inning at Kauff- 
man Stadium. 

Doug Jones hit Mike Macfarlane with 
a pitch with one our and Johnny Damon 
singled him to second. 

Cooper then singled up the middle 
through under the glove of the shortstop, 
Jose Valentin. 

Angels 6, Rangers 5 Anaheim won its 
seventh straight when Dave Hollins hit a 
two-run double with one out in the ninth 
off John Wetteland, who blew a save for 
the fourth time in his last eight chances. 

Wetteland gave up a one-out single to 
Gary DiSarciiia, a double to Tony Phil- 


lips and intentionally walked Darin Er- 
stad to load the bases. Hollins lined an 0- 
2 pitch to right field. 

Indians 3, Yankees 2 Marquis Gris- 
som with one out in the 10th to give 
Cleveland victor}' at Yankee Stadium. 

Grissom had three hits and Matt Wil- 
liams homered and tripled for the In- 
dians, who won their fourth straight. 

tw ins s, White Sox 3 Ron Coomer hit 
a go-ahead double in the sixth as Min- 
nesota overcame Albeit Belle’s 20th 
homer for visiting Chicago. 

Mariners 6, Athletics 2 Rich Amaral 
and Jay Buhner hit first-inning homers at 
Oakland and Bob Wolcott allowed two 
runs and eight hits in seven innin gs. The 
A’s lost their fifth consecutive game. 


New Yankee 
From, Japan 
Is Full of 
Surprises 


By Jack Curry 

New York Times Sen-ice 

NEW YORK — Because Hideki Ir- 
abu is from a foreign country and be- 
cause he zealously guards his private 
life, he has been a mystery in pin- 
snipes. 

Little besides his baseball ability is 
known about the pitcher whose name 
filled sports sections and radio airwaves 
for months before he made his debut 
with the Yankees. 

But in a candid revelation, the man 
who raised Irabu, and watched him be- 
come the most dominant pitcher in Ja- 
pan, said he was not the pitcher's bio- 
logical father. He said the biological 
father was an American. 

Ichiro Irabu, speaking by telephone 
from Amagasaki, Japan, referred to the 
28-year-old Hideki as his segare. a Jap- 
anese word for sou, and said his wire, 
Kazue, and an American he declined to 
name were Hideki 's birth parents. 

Asked if he was related to Hideki 
biologically, Ichiro Irabu said, “No." 
Asked if Hideki *s biological father was 
American, he responded, “That’s cor- 
rect.” 

There has been speculation 
throughout Japan that Irabu's father was 
an American serviceman. Japanese 
birth documents list a parent only if he 
or she is a Japanese citizen, and the 
family has not spoken about Irabu's 
parentage. 

When another question was broached 
on the topic. Ichiro Irabu, the manager 
of a restaurant in Amagasaki, replied, 
“Let's not discuss this further. "He 
would only add that he became Hideki's 
stepfather soon after Hideki was bom. 


BASEBALL 


Major League Stamm was 

MUUCAKIUOUI 

EAST DM8I0N 

W L Pd. CB 
BdHmorC 56 33 .629 — 

New York 51 39 S67 SVi 

Toronto 43 45 49 12U 

Detroit 4 3 48 J67 

Boston 40 51 .440 17 

CENTRAL DIVISION 


Cleveland 

48 

37 

365 

— 

Chicago 

47 

43 

322 

3ft 

Milwaukee 

<2 

45 

483 

7 

Minnesota 

39 

51 

M3 

lift 

Kansas Oty 

37 50 

WEBTDmSUN 

A25 

12 

Seattle 

52 

40 

365 

— . 

Analwim 

49 

42 

338 

2ft 

Texas 

45 

45 

300 

6 


Oakland - 37 57 JM-lA- 

UTWHALliMMi 
EAST DIVISION 

W L Pd. CB 
Atlanta 59 33 441 — 

Florida 53 37 ,589 5 

Now York 51 40 -560 7VS 

Montreal 49 41 S44 9 

PMaddplHo 25 64 JB1 32% 

CENTRAL DIVISION 

PHtsbinyh 46 45 505 - 

Houston 46 47 .495 1 

St Louis 44 47 >484 2 

OndnnaU 40 50 Mi 5% 

Chicago 38 54 J13 8V4 

WBSTiNVIHQN 

Son Frandwi 52 40 S&5 — 

Los Angeles 49 43 533 3 

Colorado 44 49 J73 BVi 

San Diego 42 50 >157 10 

nohmti unucohs 

AMERICAN LEAGUE 

Detroit 000 004 000-4 8 4 

Boston 102 226 50* — 18 21 2 

Jarvis. Bautista (5). Sager (6), M. Myers 
(7) and Walbecfc, Novm (4) Casanovo (9t; 
Support QhsJ 17). Hudson W. Sioamb (9t 
and Stanley. Hatteberg (7). W— Suppan 341. 
L— Jarvis 0-1. HRs— Detroit Nieves 02). 


Boston, Hatteberg (6). Cordero H2t. 

Toronto 000 021 002-5 10 1 

Baltimore 100 Oil 40*— 9 11 1 

Person, Plesac (7), Andujar (81 and B. 
Santiago; Kamlenteda TeJMattwwrs (61. A 
Benitez (0). RaJWyets (9) and Webster. 
Laker (8). W— TeMathews 2-1. L— Person 3- 
6. HRs— Toronto, C Delgado (18). C-GOrtia 
12). BaBimare, By-Andereon (B). Berroa (18). 
Sirrtwff (12). 

Oofeiaod . 010 000 010 1—3 10 0 

New York 100 001 B00 a— 2 8 1 
Te. Clark. Mesa (6). Mormon (8), M. 
Jackson (9) end S. Ataman D. Wefts. Nelson 
(81, M. Rivera (10) and Posada. W — M. 
Jackson 2-1. L-M. Rivero 2-3. 

HR^-Oeveiond. Grissom (4), Mo.WWlcms 
(21). 

Chicago BOO 102 000-3 0 1 

Minnesota 012 HI l£b-5 0 0 

Drotvjk. McElroy (6) and Fabregas; 
D .Stevens, Fr.Rodriguez (6), Swindell (8), 
Aguilera (9) and Sttanbach. 
W— FrRodriguez 2-3. L— Drabek o-7. 
S*— AguUera (1 7). HRs— Chicago. Belie (20). 
Minnesota, SMnbach (9). 

MB*. OH 000 100 000 00-1 7 0 

X. City D00 000 100 ON 01-3 11 0 

J .Mercedes. Vlflone (7). Wldumin (8). 
Adamson (10). Fetters (10). Do Jones (14) 
and Matheny, Stinnett (10). Levis (14); 
RiMdL Olson (9). Cnslan (10). J. 
Montgomery (11). MLPetez (13) and 
MLSweeney, Macfarlane (10). yv— MLPetez 
1-a L-Dojones 34. HR-MItoraukee. Voigt 

w. 

Seattle 300 002 010-4 14 0 

0 attend IH 100 000-2 11 1 

Wolcott S. Sanders <» and Oa.WlKonr 
WddechowskL A. Small (6), Groom (8). 
Wengert (9) and Ga.WilNotns. W— Wolcott 5- 
4. L— Woldectiourski (M. HRs— Seattle. 

Amoral (1), Buhner (24). Oakland, Stairs 2 
04). 

Texas OH 1U 040-5 9 1 

Anaheim 040 OH 002-6 II 0 

Santana Vasberg (7). X Hernandez (8). 
Gunderson (8), Wetteland IB] and I. 
Rodriguez; watoaa DeLudo (8), P. Harris 
(8X PercNal (8). Gross (9) and Kreuter. 
W— Gross 2-1. L-Wetteiood 4-2. 
HRs— Texas News on IS), Ju-Gonzabz CO), 
Palmer (10), B. Rtaken (3). 

NATIONAL LEAQUE 


New York OH HI 1 2D— 4 10 1 

Pittsburgh HO Ml 22x— 5 is l 

R-Reed, Koshtwada (7). McMichael (8), 
Udle (8) and Pratt Cooke. Sodovrsky (B). 
Rincon (8). Lotsefie (9) and Kendal. 
W— Rincon 4-4. L-McMIchoei 6-7. 
Sv — Loi&cHo (121. HRs — New York, Huskey 
(13). Pratl (21. 

SL Louis OH 101 000-2 7 0 

andean 003 hi oax-4 s o 

Vglenzueta, Pelkovsek (3). Frascatoie :6i. 
Fossas (8) and DtfeJIce: Mercker, Sullivan 

(6) . Belinda (7). Shan W and J.Oliver. 
W— Mercker 7-6. L— Valenzuela 2-12. 
Sv— Shaw 120). HRs— Si Louts. Lankford 
(301, Gaettl (11). 

Montreal 011 Oil OH OH-4 9 1 

Florida OH 002 200 HI— 5 10 0 

Judea D. Veres (7). Tetford (B). Urbina 
(107. Deal (12) and Widget: Rapp. Helling 

(7) . F. Heredia IB). Powell (9). Cook (1 M, Nen 
01) and Zaun. W— Nen 7-2 L-Oaal 1-2 
HRs— Montreal H. Rodriguez (18). Florida 
Banttfa (8). 

PtSudotpWo 402 OH 000—6 4 2 

Atlanta OH 144 DU— 10 9 3 

T. Green, Brewer <61. Spradlin (6), Boltollco 
IB and Parent; Brodu Millwood (Sj, Emtoree 
(7). Cottier IB), Wohlere (9) and Spehr. 
W— MiDwaod 1-0. L— Brewer 0-2 

Sv— WohJere (22). HRs-PModelphla 

Brogno (10). Atlanta, Klesko (16). Spehr (I). 
San Francisco oil no 100—3 8 2 

San Diego 220 100 OOt-5 I 1 

Creek, Roo (2). Poole (6), Johnstone (7) 
and BerryhBk DnJocksznv Brake 17). 
TLWoriei! (8), Hoffman (9) and Flaherty. 
W — Dn, Jackson 2-7. L— Creek M. 

Sv— Hofftnon 09). 

Houstoo200 001 400 M 002-9 14 3 

CtircngoOH 510 1H OH 000-7 18 1 

Reynolds, Lima (4X Minor (7), Mognonte 
(7). T. Mrotln (9). B.Wagner (1 2). R. Springer 
(15) and Ausmus; F.CastSa BoBenfWd (73, 
T. Adams (8), Rotas (9). Wendell (11), 
Patterson (11). R. Toth 114) and Senrols. 
W— B. Wagner 6-3. L— R. Totfe 0-1. Sv-R. 
Springer (1). HRs— Houston, Ausmus 13), 
Bagwed (25). Berry (6). 

Los Angeles 400 014 200 3-14 22 1 
Colorado 401 202 2H 1—12 IB 4 

Astoria Osuno (4), Guthrie 16), DreJfort 
(7), Radinsky (9), To.WarreB (1 0) and Piazza: 
Holmes. OeJean (6). Mlnchey (7). Dipoto 


(81. S. Reed HO) andJaReed. W— Radinsky 
4-1. L-S. Reed 1-4. Sv— To.WorteJI Q2i. 
HRs— Las Angeles. Piazza 1 19». Karros (21), 
Zeile 3 HP.'. Colorado, Gatomigo (33), 
Je.Reed2(9). 


AMERICAN LEAGUE LEADERS 

G AB R H Avg. 
FThomos ChW 77 2B2 64 107 J79 

SAtomarCie 6B 256 40 93 362 

Justice Cle 67 235 46 81 JU5 

i Rodriguez Tor 86 354 58 120 J39 

MVaughnBos 70 257 S3 B6 .335 

EMarllnez Sea 92 328 69 110 J35 

WOorkTe* 77 280 41 93 331 

Ramirez Cle 77 285 48 94 J30 

Greer Tex 89 334 64 110 J29 

Cara Sea B5 325 61 107 J29 

RUNS— Know ouch, Minnesota 71; E 
Martinez. Seattle. 69; Griffey Jr, Seattle, -67; 
Garcia parra Boston. 6& Durham, Chicago, 
64: Greer, Tex, 64; F. Thomas. Chic. 64. 

RBI— Griffey Jr. Seattle. 85; T. /Martinez; 
New York, 82 ToCtarK Detroit , 75; F. 
Thomas. Chicago. 7& Belie. Chicago, 75 r 
JuGonzoiez. Texas, 74; McGwire. Oak. 71. 

HITS— I. Rodriguez. Texas. 12ft 
Garcia parra, Boston, 11% G. Anderson. 
Anaheim. Ill: Greer, Texoi lift EMarllnez. 
Seattle, lift Jeter, New York. 107; FThomos. 
Chicago. 107; Cora. Seattle. 107. 

DOUBLES— JhVofenfln Boston, 28; O. 
■Neill New York. 28; L Rodriguez. Texas, Z7: 
Cora Seattle, 27; A. Rodriguez, Seattle. 26; 
art Ho, Miwuukec, 26 RDovfe. Seattle. 26 
Greer. Too* 25; Sprague, Toronto 25. 

TRIPLES— Gatia pa ra* Boston 6- Jeter. 
New York. 6- Bumltz. Milwaukee. &- 
Knoblauch, Minnesota & Offeimaa Kansas 
City, S Vtzquei Cleveland. 1 7 tied with A 
HOME RUNS — McGwire, Oakland, 31; 
TMortlnez, New York. 3ft Griffey Jr. Seattle. 
3ft Thomn Oevrtond.26- Buhner, Saattfe, 2* 
T. oClorK Detroit 2ft JuGonzoiez. Texas. 22. 

STOLEN BASES— B. LH untar. Detroit, 4ft 
Nixon Toronto 3& Knoblauch, Minnesota 
37; T Goodwin Kansas City, 32; Vtzquei 
Cleveland, 2ft Durham. Chicago. 2ft A. 
Rodriguez. Seattle. 1ft E as lev. Detroit IB. 

PITCHING (11 Peteton s ) R aJohnson 
Seattle, 12-2 A57 , 222 Clemens. Toronto 14- 
3, 324, 1A6 Mayer, Seattle. 9-ft -BIB, iS2s 
Mussina Bottlfflore. 11K5, 769. 3.44; Writ 


Texas, 10-4. .716 357; Key. Baltimore. 12-5. 
.706 257; Dickson Anaheim. 9-6 592, 337; 
D. Wells. New York, 9-4 592. 3.74; Cone. New 
York, SU. 492 ixa 

STRIKEOUTS— RaJohnsoa Seattle. 182; 
Conn New York, 17ft Centers. Toronto 156 
Mussina Baltimore. 127: Appier, Kansas 
City. 1 1 6- Fassero. Seattle, 107; B. McDonald. 
Milwaukee 106 C Finley. Anaheim, 106. 

SAVES— M. Rivera New York. . 29; 
RaMyers. Baltimore. 27; R. Hernandez, 
Chicago. 2ft DoJones. Milwaukee 2ft 
Wetteland Texes. 19; Aguilera Minnesota 
17; Taylor. Ooldand 16 

NATIONAL LEAGUE LEADERS 

G AB R H Avg. 
L Walker Col 89 331 87 136 411 

Gwynn SD 87 356 64 143 M2 

Piazza LA 88 319 56 114 357 

Joyner SD 74 258 38 89 345 

Lofton Alt 68 288 51 99 344 

BIO user Ail 88 294 59 101 344 

AHonzoNYM 80 271 40 89 328 

Lankfbid SfL 71 262 53 86 378 

Goksioga Cal 09 350 68 112 320 

MoGroceChC 82 295 47 94 319 

RUNS— L. Walker, Cotorudn 87; Bigg la 
Houston, 8ft Galarroga. Colorado, 6ft 
ECYoung, Cotomda 65; Gwynn, San Oiega 
64; Bonds. San Frondsca 62; ChJones. 
Altanto 61; BagwriL Houston, 61; Olerud, 
New York, 61. 

RBI— Galarraga Co loro da 9ft Bagwell 
Houston, 82; Gwynn San Dtoga 81; L 
Walket Colorado. 7ft ChJonen AHanto 75c 
Kerri San Frondsca 6ft Akto Florida 68. 

HITS— Gwynn San Dlega 14ft L Walker, 
Colorado. 13ft Piazza Las Angeles. 114; 
Bigg la Houston 113; Galarraga Colorado, 
lift C hJones. Atlanta' 106. EcYoung, 
Cotorotto. 105. 

DOUBLES — Grudzielanek, Montreal 3ft 
Lansing Montreal 2ft Morondinl 

PhikMelphta 2ft L Walker, Cotararta 2ft 
BogweiL Houston 27. Biggla Houston 2& 
Bonma Florida 26 

TRIPLES— W. Guerrero, Los Angeles, ft 
0 e. Shields. St Louis, ft Rondo. Pittsburgh, 7; 
Womack. Pittsburgh 7; DSamtera, 

Cincinnati 7: Tucker. Atlanta ft EcYoung. 
Cotoradaft. 

HOME RUNS — L Walker, Coloro da 2ft 
Bagwell Houston 25; Galarraga Colorado. 
2ft Castilla CMorada 22 Karras. Los 


Angeles, 21; Bands. San Frondsca. 21; Kent 
San Frondsca 20; Lankford SL Loud 2£fc 
Hunafey, New Yarft 2a 
STOLEN BASES— D. Sanders. Cndnrwtl 
44; Wore ode Pittsburgh. 3ft D. eShlHdc. St. 
Louis. 3ft EcYoung. Colorado. 2ft LWoBier, 
Cotorotfa 2ft McCracken CoJoroda 21; C 
Goodwin Ondnmti, 31 . 

PITCHING (11 Decisions) — N eagle, 

Attaita 12-Z 357.344; JudenAltontreaL li- 
ft 346 3.75; Estes. San Frondsca 13-1 -BH, 
ft 7ft G. Maddux. Atlanta, 12-3. £00. 244.- 
Klle, Houston 11-3, 286. 2X4; P. JMarilnez. 
Montreal IU .733. 142; 8. JJones. New 
York, 12-5, .706 332. 

STRIKEOUTS— SchBlng, PhHadefphia 
1 6ft P. JMarilnez, Montreal 16ft AIBenes, St. 
Louia 14ft Noma Los Angdes. 13ft K. 
J Brown Ftorida 125; KMa Houston lift 
Stortiemyra St Louis. 116 
SAVES— Beck, San Francisco. 2ft Nen 
Ftorida. 24. JaFranca New York. 2ft Wohlers. 
Atlanta 22r To Worrell Los Angeles, 2ft 
5 how, Cincin. 20t Eckenley, SL Louis. 2d 

Japanese Leagues 


CYCLING 


Touh pe France 

Landtag placing* In 252 km (15&.6 mUee) 
10th stage tram Luchon. France to AreaB*. 
Andorra; 

1. Jan UHdv Germany. Telekom, 7hr 
46ml n (Msec ft Marco Pantad ltdy, Mer- 
catona at 1:0&- 3. Richard Vbenque. France, 
Festtna same ttme; 6 Francuco 
Casagranda Italy, Saeca at 231; 5. Btame 
RB& Denmark. Telekom, at 32ft 6 Laurent 
Dirfaux, Swiss, Festina at 327; 7. Jose Maria 
Jimenez. Spain Banasta 3*Si 8. Fernando 
Escariln Spain. Kelme, atj 9. Abraham 
Diana Spain Banesta 5.I.- 10. Alberto Elk, 
Italy. Caslna sJ. 

OVERALL: 1. Jan UDrlCh, 553054; ft 
Richard Virengue, 23ft 3. Abraham dona, 
4:4ft 4. Bjame RUs, 45ft 5. Marco Pantinl 
52ft 6. Fernando Escarttn 5>16 7. Laurenl 
Dutoux. ftOft ft Oscar Camenztad Switzer- 
tand MnpeL 7:00) 9. Francesca Cosogrande, 
720r 1 ft Cedric Vasseuc France, GAN. 731. 



W 

L 

T 

Pet. 

GB 

YakuB 

48 

28 

1 

332 



Hiroshima 

37 

35 



314 

9.0 

Yokohama 

35 

37 



386 

113 

Chunictu 

37 

40 



381 

11.0 

Hansttin 

35 

40 

1 

367 

123 

Yomfuro 

32 

44 

— 

321 

163 

NcmciiAaui 




W 

L 

T 

Pet 

GB 

Orix 

40 

29 

2 

380 



Seibu 

42 

32 

2 

368 

03 

Do id 

42 

35 



345 

2.0 

Nippon Ham 

38 

40 

1 

387 

63 

Kintetsu 

31 

43 

1 

319 

113 

Lotte 

29 

43 

2 

303 

123 


TUISOAY'S USVUS 

CENTHAL LEAGUE 
Yokuftft Hansfiin4 
ChunkM 5. Hiroshima 0 
Yokohama 6 Yomlurf 2 

pa cine LEAGUE 
Kintetsu 5. Orhc 4 
Lotte 3, Nippon Ham 2 
Setou4. DakHl 


TENNIS 


Davis Cup 

AMIUUNZCHII 

GROUP 1 PLAY-OFFB 
Bahamas ft Venezuela 2 
Ecuador ft Argentina 1. 


TRANSITIONS 


AMERICAN LEAGUE 

ANAHEIM— Announced C Chris Turner has 
cleared waivers and been assigned to Van- 
couver; PCU Signed c Jose Carrillo, C Fran- 
cisco Murrtllo. RHP Israel Robala INF Nar- 
dsco Padflla, RHP Dwayne Dobson, RHP 
Brian Tokorse, OF Jeb Dougherty. OF GDber- 
ta Plclwtta ond RHP RonaU Ricks to minor 
league contracts. 

BALTIMORE —Designated DH Pete incov- 
IgHa for assignment. 

Boston — Opftoned LHP Vouglm Eshel- 
man to Pawtucket IL. 

Cleveland — CoBed up RHP Teny Clark 
from Buffalo, AA. Put RHP Paul Shuey on is- 


day disabled Bst. Designated INF Casey Can- 
doele for assignment. Recalled <NF Damian 
Jackson from Buffalo. 

DETrott —Recalled RHP Kevin Jarvis 
from rehobrifftifion assignment and activated 
him from 15-day disabled 1st. Optioned LHP 
Roberto Duran to Jacksonville; SL 

OAKLAND -Recalled LHP Sieve Woj- 
ciechowskl from Edmonton, PCL Put RHP 
Arid Prieto an 15-day disabled list retroac- 
nvetaJuiyft 

NATIONAL LEAGUE 

Chicago —Named Jeff Pentkmd hitting 
coach. 

Houston -Activated RHP Shane 
Reynolds from 15-day d Go bled fist. Optioned 
RHP John Hudekta New Orleans, AA. 

PHILADELPHIA -Signed LHP Randy Wolf 
and assigned him to Batavia NY-PetmL 

san DiEGO-PutC Cartas Hernandez an 15- 
day disabled tat Bought contract of C Mo ratty 
Romero from Las Vegas, PCL Designated 
OF Earl Johnson for assignment. 

san FRANasco-OptkMied RHP WOnam 
VanLondingham loPhoentx. PCL 
POIXTBilU 

NATIONAL FOOTBALL LEAGUE 

Arizona -Signed OB Jake Plummer to 3- 
yeor contract 

atianta— S igned TE OJ. Santiago to 3- 
year amtract and WR Freddie Scott S Teny 
Ray and S Chris Shelling to 1 -year contracts- 
Signed RB Byron Hanspont DE Nathan 
Dovts, and LB Henri Crockett to 3- year con- 
tracts. 

CAROLINA— J Released C Curtis Whitley. 

Chicago— S igned TE John Allred and RB 
Domed Autry to 3-year contracts. Agreed to 
terms with S Anthony Marshall on 1-year 
contract. Waived WR Mlfl Coleman. 

Cincinnati— S igned LB Canute Curtis. 

DALLAS —Waived TE Kendo It Watkins. 
Signed DT Atrtonto Andereoa WR Macey 
Brooks. LB Dexter CoatOey. C Steve Settles. 5 
Omar Stoutmire, FB Nicky Sualua CB Lee 
Vaughn, CB Kenny Wheaton and OL Harry 
Stomps. 

Detroit -Signed TE Pefe Chryplewfcz, 
DE Duane Ashman and GTony Ramirez to 3- 
year contracts. Signed OL Juan Roque; LB 
Matt Russell and WR Marcus Hams, 

MUM) -Released FB Lee McCMan. 

NSW ENGLAND— Re-signed TE Lovett Pur- 
nell. 


DENNIS THE MENACE PEANUTS 


MARCIE.WHATD0 
I 00 AFTER I FINISH 
REAPING 7WE BOOKS 
ON THIS LIST? 



WRITE A REPORT 
ON EACH ONE- 


SURE, TELL THE TEACHER SURE, MARCIE.. 

MARCiE.. HOW MUCH YOU ° __ 

- LIKEP THEM.. j7/ ■ 


CALVIN AND HOBBES 


HiOLD SULL. 1WJSS \ 
VCNSQ5L HCRSEFW OK 
w'fOURHEND. 





CNK fOJ 
BEUE'iE (T? 
I hissep: . 


SO EXCUSE ME FORTWIHG 

r TO H£LP! ftO WWW, SCSMCH 

I - XSUHSW& «a.T MLW 

• J? .GO MM! 




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Mosauno 

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PAGE 24 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 16, 1997 


OBSERVER 


Methuselah Did It 

. Methuselah was Noah's 

By Russell Baker grandfather, the flood still 
' hadn’t happened. How did 

N EW YORK— Question: Congress survive it? Did 
Who did it? Noah make ark room for 

Answer: The media did it two senators and two rep- 
Q. What did the media resentatives? 
do? A. No. Noah had to take all 

A. They left the murdered 435 congressmen and all 100 
man lying in the library. senators. 

Q. Are you one of those Q. Wow! Having to get 
aliens who crashed at — the whole Congress on the 
what was that place? ark — didn’t that mean ex- 

A. Roswell. New Mexico, tinction for a lot of inter- 
Yes. esting animals? 

Q. Sent here to conduct A. For thousands, in fact In 

sexual experiments on us? addition to the 535 members 
A. Please notice that I am of Congress, Noah was forced 
37.006 years old. and that is in to accommodate any cam- 
light years alone. Think of paign donor, human or cor- 
Sponin* Life’s comment porate, who had contributed 
about Methuselah, who lived S500.000 or more to a cam- 
a mere 900 Earth years. paign. The president had to be 

Q. Who was Methuselah? taken aboard too and housed 
What did Sportin' Life say in the ark’s best cabins; along 
about him? with press agents, fund- 

A. Sportin’ Life, a char- raisers and businessmen, 
acter in “Porgy and Bess.” Q. There were some 
observed that while Methu- pretty dangerous animals 
selah lived 900 years, there on that ark- Didn’t the 
was a philosophical question Secret Service object to hav- 
to be asked about him; to wit, ing tigers, crocodiles and 
“Who calls rhat livin’ when piranha fish living so close 
no gal'U give in to no man to the president? 
what’s 900 years?" A. Yes, and they were go- 

Q. Is there anything you ing to throw them all off until 
don't know? a thunder of mighty voices 

A. I am programmed to an- cried out from the heavens, 
swer all your questions. Me- Q, It was God with his 
thuselah Uved 969 years to be many voices? 
precise. A. Of course noL It was 

Q. Didn't it cost the tax- Rupert Murdoch. Ted Turner 
payers a bundle in Medi- and Michael Eisner, 
care payments to keep him Q. Why did they want to 
alive 969 years? Wasn't save animals? 
there agitation in Congress A. Being in the entertain- 
to cut off his benefits after ment business, they knew an- 
age 200? imals were not only more en- 

A. There was. especially tertaining than politicians but 
among Republicans from also much cheaper to buy. 
Texas, but Congress was too Now if you’Q excuse me I 
busy running for re-election must watch the Congress plan 
to act on iL to reform your country 's ,cor- 

Q. Are you saying Con- rupt system of big-money 
gress was already running politics. For a laugh and a 
for re-election back when yawn, you can 'r beat iL 
Methuselah was a pup? If Sew York Times Senice 


A Villa Buried by Vesuvius and Italian Politics 



XulLnirTV V-u V«AT*n" 

Wall frescoes uncovered at the site of the Roman villa. 


By Alan Riding 

Sew York Times Sen-ice 

E RCOLANO, Italy — The Villa del Papiri, the seaside 
mansion thought to have been built by Julius Caesar’s 
father-in-law outside the town of Herculaneum, has long 
fired the imagination of archaeologists, papyrologists and 
historians, but “imagination” has always been the key 
word. Buried by the eruption of Mount Vesuvius that 
smothered Pompeii in A.D. 79, it has stood for 1 ,900 years, 
more than 100 feet (30 meters) belowground level. 

Yet since the mid- 18th century, it has also seemed very 
real In 1750, on orders of the Bourbon king of Naples, 
archaeologists began digging shafts and tunnels that en- 
abled them to establish the shape of the mansion, with its 
majestic peristyle. Along with statues and mosaics. l.SOO 
carbonized papyrus scrolls were found, giving the villa its 
name. Then in 1765 work at the site abruptly stopped. 

But rhe Villa dei Rapin' was not forgotten. While much 
of Herculaneum and nearby Pompeii were being cleared 
of volcanic ash, mud, and lava and opened to the public, 
scholars worked to unroll the papyn and identify their 
texts. Now. after decades of dreaming and five years of 
unpublicized excavation, Italian geologists and archae- 
ologists have for the first time uncovered part of the Villa 
dei Papiri itself. 

“It s a miraculous excavation,” said Ian Jenkins, a 
curator in the department of Greek and Roman an- 
tiquities at the British Museum who was recently among 
the first outsiders permitted to visit the site. ‘ ‘For the first 
time, it is possible to see at least pan of the Villa dei 
Papiri without entering dark and airless runnels.” 

The runnels are closed, having been rendered unsafe 
by the aew excavation. But it was the rediscovery of two 
shafts leading to these tunnels in 1980 that enabled 
modem archeologists to identify the exact position of the 
villa. Then, in the mid-1980s, resuming work under- 
ground, they sounded rwo previously unchaned cham- 
bers and found small bronze objects and lintels left 
behind in the lSth century. 

It was not until 1990, that Italy’s Culture Ministry 
approved excavation of the site from above, making a 
$ 1.5-million grant to a government agency. Nuova Mec- 
food, to do the work. After private land, mainly fields, 
was expropriated, earthmoving finally began in Febru- 
ary 1992. Two years later, the first buildings were reached 
Those at the southern end of the sire, closest to the remains 
of Herculaneum, have been described by Antonio de Si- 
mone, the project’s chief archaeologist, as part of the town's 
suburbs and appear to be unrelated to the Villa dei Papiri. 
These include foundations, decorated walls, some frescoes 
and a chapel-like building that is virtually intact although 
still full of earth and stones. 

Archaeologists knew that the volcanic eruption of Aug. 
25, AD. 79, pushed the shoreline 200 to 300 feet into the sea. 
and now they have found steps leading down to what used to 
be the water's edge, confirming thar both the suburb and the 
Villa dei Papiri were built beside the Bay of Naples. 


At the northern end of the site, only one corner of the Villa 
dei Papiri has been uncovered, but archaeologists have already 
discovered a “new” lower level of the building, with four 
doors, two windows and four round ventilation holes, which 
was not on the 18th-century drawings and is now visible. 
Above these rooms, which ore not fully excavated, digging 
has revealed part of the villa's main floor, including walls 
dividing rooms, some floor mosaics and one wall painting. 

The rest of the villa still ties buried beneath the wall of 
earth that rises sharply from the site. But for Marcello 
Gigante, a retired professor of philology from the University 
of Naples, the only pan of "the rest” that truly excites him 
is the ancient library that he hopes will soon be found. “It's 


there or perhaps there,” he said, pointing at two spots on 
the wall. “It's not far away.’ ’ 

Unsurprisingly, archaeologists believe more is in- 
volved than smiply finding the library, but they all 
concede that the 74-year-old scholar’s voice carries 
special weight. Starting in 1969, when he founded the 
International Center for the Study of the Papyri of 
Herculaneum, Gigante has been the driving force behind 
the movement to excavate the Villa dei Papiri. 

Much of his work has focused on the 1,800 papyrus 
scrolls discovered in the 18th century and stored in the 
National Library hi Naples, only about a third of which 
have been opened Of these, only half — about 300— are 
legible. Written on papyrus imported from Egypt, all buta 
handful are in Greek. What drives Gigame's passion for 
die Villa dei Papiri is his conviction that the 18th-century 
finds were incomplete. 

“In a building that served as a study center, there had 
to be Latin texts,” he explained in an interview. 

For other experts, like de Simone, the project's chief 
archaeologist, and Umberto Cioffi, the geologist whose 
Nuova Mecfond team is carrying out the excavation, 
more is at stake than simply the library. “The Villa dei 
Papiri can tell us a lot because it was the biggesr house in 
Herculaneum, owned "by the father-in-law of the em- 
peror,” de Simone said. “We like to say that, below the 
excavation, you find the context.” 

So what happens next? In theory, excavation of the 
Villa dei Papiri can continue, above all in the area im- 
mediaiely below the fields that can be easily expropriated 
More complicated will be the indemnity negotiations with 
owners of -private homes that will eventually have to be 
razed, but that stage may be years, even decades, away. 

A more immediate problem is that Nuova Mecfond 's 
contract with the Ministry of Culture' ends on Dec. 3 i and 
its renewal seems far from certain because the Vesuvian 
region’s new top archaeological administrator, Pietro 
Giovanni Guzzo, reportedly wants to take over the 
prestigious project himself. 

Even more disturbing to Gigante and his colleagues, 
Guzzo has publicly stated that given the enormous 
archaeological demands and limited financial resources 
in the region, work already done on the Villa dei Papiri 
should be “consolidated." that is, carefully preserved 
but not expanded. 

Presumably Walter Veltroni, Italy's culture minister, will 
have the last word In the meantime. Gigante began mobilizing 
his troops by organizing a seminar here on June 25 at which Ik 
and his team briefed international experts on recent de- 
velopments, with Guzzo among the guests, then led a guided 
tour of the excavation sire, all with a view to winning allies. 

“Would it nor be a pity if, having reached the ar- 
chaeological levels of the villa, the excavation would be 
discontinued without consolidating what has been achieved 
and creating a mise en scene for the public?" Jenkins 
wondered aloud in his remarks to the seminar, albeit seem- 
ingly addressing Guzzo. “I agree we should consolidate 
what has been done, but could not this include the villa?” 


Royal Opera Stages Gala Farewell 


Reuters 

L ONDON — Britain’s R^yal Opera 
House closed for renovations in a riot of 
ballet, opera and music. Royalty, captains . 
of industry and devotees of high culture put 
on their best clothes for the farewell gala at 
die Covent Garden site, shutting down for 
two-and-a-half years of redevelopment. 

Its ornate gilt and red velvet tiers were 
packed to the rafters on Monday night for 
performers including the tenor Placido 
Domingo and ballerina Darcey Bussell. 
Prince Charles, patron of the Royal Opera 
and his aunt. Princess Maigaret, president • 
of the Royal Ballet, were there, as were 
former two prime ministers, Margaret 
Thatcher and John Major, and other top 
politicians. 

Those who were there enjoyed a smor- 
gasbord of ballet and opera, with scenes 
from "Romeo and Juliet," "Cosi fan 
tune,” "OteUo'' and other classics as well 
as a succession of conductors. 

The point of the gala evening was not 
forgotten, however. 

The £2 14 million ($360 million) redevel- 
opment will add seats, improve the stage 


and give performers a place to rehearse. But 
it is not yet paid for. 

Vivien Duffield, the chairman of the 
Royal Opera House Trust and Development 
Appeal, told the audience that more cash 
was needed. The National Lottery and gov- 
ernment grants have accounted for about 
half, and private donors have pledged £70 
million, but the fund is still £30 million 
short 

“I have begged, bullied, cajoled, sav- 
agely pursued ray targets for years," she 
said. "For those of you who have not yet 
given — there’s no Testing yet ” 

Lord Peter Chadlington, chairman of the 
Royal Opera House, said the restoration 
would mean "a new theater for the new 
millennium." 

The hope is to make what has been 
criticized as an elitist venue into something 
more popular, with cheaper seats and better 
accessibility. There will also be more per- 
formances. "All this might bring people 
here who might never have gone into an 
opera house before,” Chadlington said. 

Performances will be scattered across 
London over the next two years. 


PEOPLE 


T HE actor and heartthrob Brad 
Pitt was revealing more than his 
good looks in Playgfrimagazine, and 
a Los Angeles judge approved his 
request to block further distribution 
of the August issue. But the judge did 
not demand a recall, and the issue 
had already been shipped to sub- 
scribers and had appeared on news- 
stands. The nude photographs were 
taken in 1995 when Pitt was va- 
cationing at a resort on the Caribbean 
island of Saint Barthelemy. Play- 
girl's lawyers noted rhat the photos 
had been published in European 
magazines and on the Internet 

□ 

Mia Farrow and the author 
Philip Roth, neighbors in Connecti- 
cut, have been dating with increasing 
frequency, the Daily News in New 
York reported. Farrow split five 
years ago with Woody Allen after 
discovering the filmmaker was hav- 
ing an affair with her adopted daugh- 
ter. Predictably, he didn’t fare well in 
her recent biography, "What Fails 


Away.” The twice-divorced Roth 
was also recently the subject of an 
unflattering portrait by his ex-wife 
Claire Bloom in her memoir. 
“Leaving a Doll’s House.” 

□ 

Lisa Marie Presley says a Na- 
tional Enquirer report" that she mu- 
tilated herself and attempted suicide 
is nothing but lies and she is suing the 
tabloid, claiming defamation and in- 
vasion of privacy — The Sun news- 
paper reports that Presley has joined 
her ex-husband. Michael Jackson, 
in London. Jackson and Presley have 
not been seen together since their 
divorce last year after an 18-month 
marriage. Jackson remarried in 
November. He and his wife. Debbie 
Rowe, have a baby boy, 

□ 

Princess Diana denied press re- 
ports of an imminent announcement 
about her future, after conceding that 
her two teenage sons “are always 
urging me to live abroad.” “Maybe 


that is what I should do,” she told 
reporters tracking her on the French 
Riviera, where she and her sons. 
Prince William and Prince Harry, 
were vacationing as guests of Mo- 
ha med al Fayed, the owner of Har- 
rods department store. After days of 
being photographed at play, she went 
out to talk with reporters and pho- 
tographers hovering nearby. They 
said Diana told them her sons want 
her to move abroad and that she was 
going to spring a “big surprise with 
the nexr thing I do.” Ir was an easy 
leap to “New Life for Diana” and 
“Princess’s Threat to Live Abroad" 
headlines in Tuesday's papers. 

□ 

The Grand Ole Opry has a new 
first couple: the singers Marly Stu- 
art and Connie Smith, who were 
married this month in Pine Ridge, 

South Dakota Peter Max, whose 

psychedelic images captured the 
'60s in paint has married an as- 
sistant, Mary Balkin, on a yacht off 
New York City. 



Fdiln> Dcmir/Aipnwe France -Preo, 

SOLIDARITY — Ricardo Muti 
leading the musicians and singers of 
Milan's La Scala, the Sarajevo 
Philharmonic Orchestra and Opera 
Chorus in a concert in Sarajevo. 





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