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Hcralb 


INTERNATIONAL 







PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST .v'"'"' ' 


The World’s Daily Newspaper 


R 


Paris, Friday, June 20, 1997 


.a. a- .. 








Denver Spotlight: The U.S.W)m and Yeltsin 

Down but Never Out , Russian Rebounds At Summit, Gloating, but No Lecturing 


By David Hoffman 

VyaiAiflgftra Pan Service 

MOSCOW — A year ago, President 
Boris Yeltsin was teetering on the 
verge of a third been attack, had put 
economic reform on hold, was frantic- 
ally shuffling his government and fa- 
cing his biggest re-election fight 
against the Communist Party leader. 

On Thursday, as he flew to Denver to 
participate in the 23d annual meeting of 
the leaders of the Western industri- 
alized democracies, Mr. Yeltsin was in 
many ways a new man. 

Not only has he defeated the Com- 


munists and survived a quintuple heart 
bypass operation, bat he has installed 
the most reform-oriented, free-maiket 
government since 1992. and has 
steered Russia toward beta; a partner, 
rather than an adversary, ot the West 

Mr. Yeltsin has been invited to every 
meeting of die Western leaders since 
the collapse of the Soviet Union, but 
this year, be is getting better pexquisttes. 
He is to deliver the opening address, 
and the meeting has been named Sum- 
mit of (he Eight- Mr. Yeltsin will par- 
ticipate in every meeting in Denver, 
except one on financial issues. 

He said be wanted “very much 1 ’ to 


persuade the heads of the seven other 
nations, especially a reluctant Japan, to 
pe rm anently expand their exclusive 
club to a formal Group at Eight. : 

The meeting may have little sub- 
stance to offer Mr. Yeltsin, bni the 
symbolic rewards should be bountiful. 
It is the consolation prize for his agree- 
ment to allow the eastward expansion 
of the North Atlantic Treaty Organi- 
zation. In economic terms, Russia’s 
nascent and still-depressed market 
economy simply does not qualify for a 
seat at the table with the seven leading 

See YELTSIN, Page 4 


By David E/Sanger 

Ne* Tor * Times Service 

WASHINGTON — It may not be 
polite to gloat about your good fortune 
m front of your guests. Nonetheless, as 
President BQJ Clinton and his economic 
team prepare to act as host to the annual 
summit meeting of the world’s largest 
industrialized nations, starting Friday 
in Denver, they just cannot resist 
■ pa la speech outside Denver jnst after 
arriving Thmsday, Mr. Clinton said 
that “we decided in the last four years 
to take the lead” in opening global 
markets. ’We have too much to gain 


from open markets,” he said.] - 
“Hus is die most remarkable eco- 
nomic performance in a generation, 
maybe longer/' Treasury Secretary 
Robot Robinsaid recently. Warming 
to his tome, it did not take long before 
Mr. Rubra danced gently around die 
inevitable comparisons with Europe. 

IBs deputy, Lawrence Summers, who 
iskBownforbhmterproncnniceraenis.is 
describing die United States these days 
as ‘“the world’s only economic super- 
power” — a proclamation that grates on 
Japanese ears — and “die world’s most 
flexible and dynamic economy.” 

He recently suggested that other na- 



tions of the worid “have things to learn 
from us,” starting with “Cuntonom- 
ics, an economic strategy of deficit 
reduction, export promotion and in- 
vestment in .people,’ ’ 

Perhaps so, but the lesson vs not ex- 
actly resonating around die globe. Few 
of die other participants in the Summit of 
the Eight — as the G-7 meeting is being 
dubbed now . (hat . Russia is nearly a frill 
member — are rushing to emulate what 
Mr. Summers calls the “American mod- 
el.” In fact the message from the Den- 
ver gathering may be quite the opposite: 

See ROBUST, Page 4 


McDonald’s Wins Case 
Against U.K. Activists 

Court Awards $98,000 in Libel Damages 


■ — t; 

• • ••* 




By Fred Baifiash 

Washington Post Service * 

LONDON — The longest case in 
English history, which consumed 314 
days of trial, concluded Thursday when 
McDonald’s won $98,000 in damages 
from two environmental activists who 
libeled the fast-food company. 

■ The battle was variously known here 
as “McLibel,” the “Big Mac Attack,” 
*' ‘the case of the century” and most often 
as a “David and Goliath” struggle: 
David being two self-described “pen- 
niless” /Wenriants representing them- 
selves; Goliath being represented by an 
army of solicitors and barristers. 

But that’s not the half of it It’s not 
even the tenth of it McDonald’s won a 
$98,000 libel award in a case it spent 
roughly $16 million to pursue, accord- 
ing to estimates: more than 15,902.000 
big bucks served by the burger giant 

A waste of money? A public relations 
disaster? Not at all, said McDonald’ s top 
executive here in response to questions at 
a news conference. The suit wasn’t about 
money but reputation. “Our reputation is 
valuable and is something you must be 
willing to stand up and protect” 

McDonald’s had charged that die en- 
vironmentalists were out to “smash” 
the chain. 

It all began sometime in the 1980s — 
the exact dare is lost — when an en- 
vironmental group here started passing 
out a leaflet called “What’s Wrong with 
McDonald's.” 

What was wrong with McDonald’s, 
the tract claimed, was everything. Itput 
McDonald’s right up there with me Four 
Horsemen of the Apocalypse, accusing 
it of responsibility far starvation in die 
Third World, aiding and abetting die 
destruction of die Central American rain 
forests, serving food that could cause 


Where Is Pol Pot? 

As Cambodia prepares for the 
Khmer Rouge leader Pol Pot to be 
brought in from the jungle, serious 
questions remain about whether a 
trial will ever be held. 

Mr. Pol Pot’s whereabouts are 
still uncertain, despite a Khmer 
Rouge radio broadcast Wednesday 
thatsaid he had been captured by 
former comrades. 

Contradictory reports have been 
issued by the first prime minister, 
Prince Norodom Ranariddh, and 
his military aide. General Nhiek 
Bun Chhay. General Nhiek Bun 
Chhay said Thursday that Mr. Pol 
Pot had been “surrounded" but 
had not “surrendered.” Page 5. 


The Dollar 


New Yam TtunvJey o * P.M. prevtajscfcm 


cancer, heart disease and food poison- 
ing. exploiting children in its advert- 
ising, cruelty to animals, lousy treat- 
ment of employees and lying about its 
use of recycled paper and nutrition. 

McDonald’s sued in 1994. After 314 
days of trial and a review of tens of 
thousands of documents produced for it, 
a judge ruled that almost all of the 
accusations, including all of the big 
ones, were unfounded. 

The trial, he ruled, had produced ev- 
idence that McDonald’s hens, chickens 
and some pigs were given insufficient 
room during portions of their short lives 
and that it was “culpably responsible” 
far a “cruel practice” in at least some 
instances, by which some chickens were 
still conscious when their throats were 
slit He also upheld the claim that Mc- 
Donald’s advertising “makes consid- 
erable use. of susceptible young chil- 
dren” to bring them in. 

Justice Sir Rodger Bell also had some 
kind words for McDonald’s: “They are 
genuinely equal opportunity employ- 
ers,” he said! “The success of the res- 
taurants has relied on smart, cheerful 
staff providing brisk service and it 
seems to me that it is inherently difficult 
to achieve this unless crew are reas- 
onably happy at their wok. 

“lii my own judgment, McDonald’s 
alleged part in an alleged worldwide 
hamburger connection does not justify 
the defamatory allegations actually made 
in the leaflet complained of,” the judge 
said. As for the food being low quality, 
that was “a matter of opinion,” he saii 

Afterward, everyone but the judge, 
for whom this was a first and so far only 
case, claimed some sort of victory. 

Helen Steel, oneof the two defendants, 
said, “We believe if people read the case 
for themselves, they will see for them- 
selves that all the criticisms in the leaflet 
were valid and have been backed by the 
evidence.” She and her co-defendant. 
Dave Morris, said they had no intention 
of paying McDonald’s ary money. 

“McDonald’s doesn't deserve a 
penny,” she said, “and we don’t have 
any moaey.” She said they would ap- 
peal to the European Court of Human 
Rights “to demand that multi-nationals 
should nor be able to sue forlibeL” 

Defiantly, they began distributing the 
leaflets again outside the courthouse 


leaflets again 
here. 





■ - f*. ,, 

- ' ■ - " & 

■■ I- ' • m . .Jrqrn 




P . Hoan | Dot 

WHY DID IT HAPPEN? — Robot McNamara, former US. defense secretary, and Nguyen Co Thach, Vietnam’s 
foreign minister, meeting Thursday in Hanoi for a conference on fafled efforts to end the Vietnam War in the ’60s: 

Hormone Treatment: Only for a While? 

Menopause Therapy Appears to Raise Some Health Risks in Long Term 


By David Brown 

Washington Post Service 

WASHINGTON— Taking hormone 
supplements after menopause reduces a 
woman’s risk of death far about 10 
years, at which point its benefit is nar- 
rowed significantly because of the 
rising risk of breast cancer from the 
therapy, according to a new study. 

Hormone-replacement therapy may 
have many beneficial effects on older 
women, ranging from protection against 
broken bones to improvement in mood 
and mental acuity. But research pub- 
lished Wednesday in the New England 
Journal of Medicine suggests that die 
therapy’s effects on mortality vary with 
time and from woman to woman. 

In particular, the life-extending ben- 
efits of hormone replacement depend 
largely on a woman’s risk of heart dis- 
ease. For women with low risk of heart 
problems, hormone replacement has 
little or no effect on mortality. 


■ The study appears to call into ques- 
tion many physicians’ recommenda- 
tions that women consider taking re- 
placement hormones indefinitely after 
they reach menopause. By suggesting 
that hormone-replacement therapy, 
once chosen, does not benefit a woman 
forever, it also raises a new question: 
When, in the long period of postmen- 
opausal life, should hormone treatment 
be started? 

“The balance of risks and benefits 
changes with tune,” said Francme 
Grodstem, an epidemiologist at 
Brigham and Women’s Hospital in Bos- 
ton, who led the study. " ‘The decision to 
take hormone supplements should prob- 
ably not be a one-time derision but 
should be re-evaluated periodically.” 

The new study does not overthrow 
previous evidence that women, when 
viewed as a group, gain more than they 
lose from hormone replacement afro' 
menopause. But by examining the ex- 
perience of various categories of wom- 


en, it provides importam hints about the 
extent and die duration of the benefits. 

Hormone-replacement therapy con- 
sists of taking a daily dose of estrogen, 
either alone or with progesterone, the 
other female hormone whose blood- 
stream concentration falls steeply at 
menopause. 

Menopause begins arage 51, on av- 
erage. The average life expectancy of 
American women is 79 years. More than 
half of U.S. women take replacement 
hormones sometime in their lives. In 
many cases, the duration of treatment is 
short and the purpose is to relieve the 
symptoms of menopause, not prevent 
future disease. 

The new findings are drawn froarthe 
Nurses’ Health Study, which began in 
1976. when about 122,000 female 
nurses in the United States were asked 
to fill out a detailed questionnaire about 
their health, diet and habits. Every two 
years the participants are questioned 

again. 


For CIA Suspect, Freedom Ended at a Seedy Hotel 


By Pierre Thomas 
and Roberto Suro 

WtaftiHSiwi fear Service 

WASHINGTON — At 4 o’clock 
last Sunday morning, Mir Aimal Kansi 
was asleep in a seedy hotel near 
Pakistan’s border with Afghanistan 
when a sudden knock on the door 
roused him. Moments later, Mr. Kansi 
began a journey that has led to a Vir- 
ginia courtroom, where he faces 
murder charges in the 1993 attack oo 
motorists outside CIA headquarters. 

Four FBI agents stood at the ready in 


the hallway of the hotel where Mr. 
Kansi was staying. Another agent 
stood nearby keeping watch. When 
Mr. Kansi opened the door, the agents 
burst in, ana the man who had eluded 
an international dragnet for four years 
found himself slammed to die floor. 

As he protested in a tongue the 
agents did not understand, guns were 
pointed at his head and he was told to 
be quiet Mr. Kansi responded with 
expletives in English, according to FBI 
officials. 

The arrest was the climax of a -10- 
day undercover mission dial had taken 


members of the FBI team to several 
remote and dangerous locations where 
they waited in hiding to nab Mr. Kansi, 
say participants in the operation. After 
his predawn arrest, Mr. Kansi was 
hustled out of the hotel and into a 
waiting vehicle, officials said. The FBI 
team men spent a tense day and a night 
getting its catch to a undisclosed lo- 
cation where be was taken aboard a 
U.S. Air Farce C-141 transport plane. 

A 33-year-old native of Pakistan, 
Mr. Kansi bad repeatedly evaded cap- 
ture in the desolate border region, 
where clao leaders and warlords ex- 


ercise greater sway than any govern- 
ments. On several occasions, the CIA 
behoved that it bad spotted him in 
Afghanistan, but he easily hid himself 
amid the turmoil of a long civil war. 
FBI teams traveled to die region at 
least twice to arrest him — only to 
come away empty-handed. 

The endgame fry Mr. Kansi began a 
little more than two weeks ago when 


•people identified by U.S. officials as 
“Afghan individuals” offered to assist 
in his capture. Ob the pretense of con- 

See DRAGNET, Page 4 


UN Panel 

Eases Ban on 
Ivory Trade 

3 African Countries 
Win Right to Sell 
Stocks to Japanese 

By Lynne Duke 

Washington Post Service 

HARARE, Zimbabwe — The United 
Nations body that regulates trade in 
endangered species voted Thursday to 
downgrade die protected status of ele- 
phants in three southern African nations 
to allow limited international trade in 
ivory far the first tune in nearly a de- 
cade. 

After days of acrimonious debate that 
showed wide rifts over issues of African 
sovereignty, conservation and develop- 
ment,- delegates to die United Nations* 
138-member Convention on Interna- 
tional Trade in Endangered Species 
voted overwhelmingly to allow Zim- 
babwe, Namibia and Botswana to sell an 
annual-quota from their collective ivory 
stockpile of 120 tons. 

The sales, called “experimental” by 
die convention resolution, will be to one 
country only: Japan. 

Bat no ivoiy will move for 1 8 months, 
during which time die wildlife conven- 
tion will establish monitoring mechan- 
isms to control strictly the sensitive 
trade that has been shutdown since 1989 


Though the plan does not reopen the 
ivory trade generally and does not 

elsewhere on the continent or in^ria! it 
represents a major defeat for some an- 
imal lights and environmental groups. It 
is the first breach of the protective wall 
the international community had erec- 
ted around the species, whose popu- 
lation had been cut by nearly half in tile 
decade leading up the ban. 

But the three nations that received 
trade rights have maintained stable or 
growing elephant populations that are 
believed to be among the best managed 
on the continent The new ivory trading 
nations are to use the revenue for con- 
servation and community development 
programs to help man and animal co- 
exist in a kind of wildlife management 
called “sustainable use.” 

With a tense impasse building up 
since the convention meeting started 
here on June 9, the southern African’s 
victory brought spontaneous song to 
Harare’s International Trade Center. 
Led by a Zimbabwean wildlife official, 
the hall broke out with the continental 
anthem, “God Bless Africa.” 

“It is a victory fra African sover- 
eignty and their right to utilization of 
their natural resources in a sustainable 
manner without dictation from the in- 
dustrialized countries,” said Chen 
Chimotengwende, Zimbabwe’s minis- 
ter of environment and tourism. 

The decision Thursday was a blow to 
the animal rights groups who had ar- 
gued that any resumption of the ivory 
trade, no matter how limited, would 
send a message that elephants no longer 
need protection. . . 

Among those who lost in the decision 

See IVORY, Rage 4 


S&P 500 


dungs Ttamtfay Q4P.M. pmfcxackns 


+8.94 898.00 889.06 


Newsstand Prices 

Andcina 10.00 FF Lebanon LL3,00C 

Anflfes — 1250 FF Morocco .16 Oh 

Cameroon,. .1.8)0 CFA Qatar -.10.00 Riate 

Egypt JE 5 JSO FMirion 12J0 FF 

France 1000 FF Saudi Arabia... 10.00 R. 

Gabon- 1100 CFA Senegal — 1.100 CFA 

te)y. -2,800 lira Spain 22SPTAS 

h/wy Coast .1.250 CFA Tunfea 1.250 Din 

Jordan 1.250 JD UAE. lODODirh 

Kuwait 700 Hs US. Mfl. (Eur.)..^120 




AGENDA 


Opinion — - 
Sports—. 


Pages 22-23. 


Jospin, Citing Financial Review, Delays Action 77— — r- — -jJJ**; 

Saying he needed to review the pects of his legislative program, includ- Opinion...- — - — - — — Pages 8-9- 

French state’s financial situation. Prime mg job-creation measures, Al the same Sports Pages 22-23. 

Minister Lionel Jospin on Thursday said time, he repeated his opposition to pri- ' " f ' V , mlia 

in his first speech to Parliament that his vatizations of key state-run businesses ~ 

government was postponing some as- such as Air France and France Telecom. THE euhqanv rnArKHAL markets 

- He said that, “in the absence of a jus- jin fntamvfot 

Riff Order for Airbus tifi cation based on the national interest, 

o we are not favorable to the privatization , 

The European Airbus consortium of this shared heritage dial the big state - . ■ . . - m 

said Thursday that it had signed a 
memorandum of understanding with 
Northwest Airlines, its best U.S. cus- 
tomer, to supply it with 50 A-319 jets. 

Analysts said the order, which is ex- 
pected to be concluded next month, could 
be worth up to $2 billion. Page 13. 


Sponao ted Section - Pages 18-19. 

THE EURO AND FWANOAL MARKETS .. 


Thelntermerket 


Page 12. 


The IHT on-line htio :/.'v.",v',v.i nt .com 


enterprises represent, even in compet- 
itive sectors.’ 1 r 

Referring only briefly to the Euro- 
pean single currency, Mr. Jospin said 
that France remained committed to the 
current timetable for the earn at the end 
of next year. Page 7. 


Damper ona Merger 

The chief of the Federal - Communi- 
cations Commission declared Thursday 
that merging AT&T Carp.' with a Bell 
telephone company would be “unthink- 
able” under antitrust laws. Page 13. 



VICTOR — William Hague outside the British Parliament on Thurs- 
day after he defeated Kenneth dartre for the Tory leadership. Page 7. 






r 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JUNE 20, 1997 


PAGE TWO 


The Hong Kong Handover / Will Lives Change? 

Four Voices From the Multitude 










K' )A' 




H 


By Edward A. Gargan 

Nnf York Times Service 


ONG KONG — Every day, millions 
of Hong Kongers head for work, on 
gleaming subway trains or double- 
decker buses, in cabs and chauffeured 


From the new construction projects in the 
business district to the industrial warehouses of 
Kowloon, from classrooms to brokerage houses, 
airport control towers and police squad cars, they 
are galvanizing this territory in myriad ways, 
making it one of the wealthiest in Asia — indeed 
one of the wealthiest in the world. 

The territory’s per capita gross domestic 
product, at $23,500, easily outstrips Britain’s, 
But it often goes unsaid that the average annual 
income here is barely $9,500. 

Hong Kong will pass from British to Chinese 
sovereignty at midnight June 30, a shift of status 
unlike any in this century, a transition from 
largely democratic governance to government 
by one of the world’s last communist powers. 

While a cornucopia of celebrations is planned 
for the resumption of Chinese rule, for many of 
Hong Kong's 6.3 million people the return to 
China's embrace is of less moment than an 
increase in bus fares or the seasonal return of pea 
sprouts. 

There are, among these 6.3 million people, 
innumerable stories about a multitude of lives. 

Four of these stories tell much about the 
territory's social and economic development and 
of expectations for the transition ahead: 



Patten lakM - 

Hectic Lea^ |[V 
As Governor ! 


By Keith Richfjteg 

M4 Sontrr • 



HONG KONG — Fast he is w^. 
the city's neighborhoods and bo«S 
projects sigma* autographs andnS 


T .. ~ «!*7 

k . y : J Jr/. 

mm l 


for snapshots. 

Then he is seated in the legislate 
council chambers trading barbs aadp®. 
tying the jibes of local politicians. *r£ 
comes an education exhibit opening, a 
graduate parade for police cadets. 

These are the hectic last days of Ho™ 

Kong's last British governor, Chris 
ten. But from his packed schedule a 
might be difficult to tell that he wifi be 
leaving this prestigious posriog in justa 
few days. When China takes over Hong 
Kong on July 1. Mr. P&nen — accom- 
panied by Prince Charles — will set sag 
on the royal yacht, ending an era. 

Until then. Mr. Patten's public 






***** 

'"***» * : 

- — * i-t f — ’-yfrri’h 


nouncements carry die nostalgic note of 
a series of heartfelt farewells. The play’s 
long run has ended, the curtain has cook 
down, the audience has shifted its at- 
tention elsewhere. But it seems at times 
that the actor who for five yean has 
dominated Hong Kong's political theat- 
er is a little reluctant to leave the stage. 

The boundless energy, the grass- 
roots stumping, the humor and openness 
— and the popularity he seems to 
demonstrate whenever he pops out ef 
his limousine to shake hands in the 
crowd — all convey* a common touch 
that has evoked praise even from politi- 
cians who have clashed with him. 

“He is very friendly with die 
people," said the Democratic Party 
chairman. Martin Lee, who has crit- 
icized Mr. Patten for not going further 
with his electoral and democratic re- 
forms. “He's really very popular.” 

Mr. Lee credited Mr. Patten with in- 
troducing more transparency into the 








Min i.Mfliutvlfc- VfL T«n— 


tuhr. i -wr-tra Tly V,, Ta— 


The Fishmonger 


The Teacher 


Usually before sunrise. Chong Shiu Fan, in 
knee-high rubber boots, clomps from her tiny 
apartment across the street to her storefront 
stacked with fish tanks, tubs of shrimps and 
abaione and trays of rockfish on ice. 

On Wanchai Road, a twisted lane hedged by 
vegetable stores, poultry stalls and fish vendors, 
she is known as Big Eyes. 

Mrs. Chong, 40, has worked since she was a 
child. As the daughter of a fruit seller, she says, 
she had no alternative. 

Now the owner of Kin Wah Fresh Seafood 
Mrs. Chong has trod a path of entrepreneurial 
success that has been repeated countless times 
here — an ascent from subsistence to the pro- 
prietorship of a small but prospering fish market. 

As she moved up from street vending. Mrs. 
Chong married and had three children. But it is 
she who makes the business decisions. Her hus- 
band drives the truck to pick up the fish at the 
wholesale markets. 

Mrs. Chong has given little thought to Hong 
Kong’s impending reversion to Chinese rule. 
Bui she has definite views about China. 

Last year, she made what was for her a huge 
investment in a fish business in China, putting 
about $ 100,000 inro a deal with a family friend 
on the mainland, in Chaozbou. “He took the 
money and was fooling around with women, 
eating out at fancy restaurants,*’ she said. "We 
lost ail the money and lost the business." 


“There’s a lot of opportunity up there,” she 
Ided. * ’The market's so big. But if they take your 


added. ‘ 'The market's so big. But if they take your 
money, there’s nothing you can do. If it happened 
in Hong Kong, you can always go after people in 
the courts. China is very different from Hong 
Kong. Perhaps it’s the kind of people 1 meet, but 
when I go there, the people are not so honest.” 

As for Hong Kong, she said, "After July 1, 1 
think it’ll revert back to the way it was in the ’60s 
and '70s. when it was very corrupt." 

"If you want to do business,” she added, 
“you’ll have to find ways to get around the 
system. It won't be black and white like now. 
You’ll have to pay off the system. It will be more 
chaotic." 

Mrs. Chong shrugged and said: * * What can we 
do? All we can do is work and hope things are all 
right." 


"My father had four wives," Regina Wong 
began. "My mother is the No. 1 wife. My family 
had a big. big complex in Canton" — the 
southern Chinese city also known as Guang- 
zhou. “But my father moved to Hong Kong and 
then to Macao. He stayed in Macao and my 
mother stayed here. Now she owns a herb 
shop." 

For many wealthier Chinese families, the ar- 
rival of communist armies in southern China in 
1949 meant flight — a sudden change of for- 
tunes. a new and uncertain life. 

“I knew I did not like communists," Miss 
Woag, 54. said of her childhood. She laughed. * ‘ l 
don’t know if I should say that now." 

As Miss Wong opened the door of her biology 
class at the Maryknoll Convent School ofl a 
recent day. the family compound in China was 
just a memory. In the hallway, a line of girls in 
blue uniforms waited silently, only entering the 
room in Miss Wong's wake as the school bell 
clanged. 

From these red brick buildings, women have 
graduated who are among Hong Kong’s elite. 
Originally run by Maryknoll nuns, the school 
and its 1.100 students are now in the hands of 
teachers like Miss Wong. It is generally regarded 
as Hong Kong's finest girls’ school. 

When she was 18, Miss Wong’s family sent 
her to the United States, a familiar rite of passage 
for Hong Kong’s middle class. 

"When 1 first got to San Francisco, obviously 
all the houses were bigger." she said. * ‘It was the 
good life, I guess. People were more open. When 
I was m Hong Kong. I was very, very quiet After 
staying there and studying, it changed my char- 
acter. I’ve learned to be more open." 

Her view of Hong Kong became sharper 
edged. * ‘People are very selfish’ ’ in Hong Kong, 
she said. “They only look out for themselves. 
People are more money oriented.” 

The impending return to Chinese rule has 
barely intruded in the lives of Miss Wong and her 
husband, an American working in the computer 
industry. 

“We used to sing ‘God Save the Queen,’ " 
Miss Wong said. “I don’t think we'll have to 
sing the Chinese national anthem. Obviously 
there’ll be some change. What will change, I 
don’t know." 


Pang Hon Ming ; left* has iio feeling' 
about the handover to China, Chong 
Shut Fan, right * fears Hong Kong 
will become as corrupt as she says it 
teas in the ’ 60s and ’70s. 


“It’s like something that’s inevitable. What's 
the big deal? I still have to work. It has nothing to 
do with me. I think things will change, but I don’t 
think China will want to destroy Hong Kong. 1 
just hope we don't have ail that crime they have 
up north in China." 


The Tycoon 


The Waiter 


Pang Hon Ming's black-slippered feet 
whispered across the floor as he moved toward 
the round table, a white plate piled with fried 
noodles floating on the edge of his fingers. 
Carefully, with chopsticks and a ladle, he filled 
■five small bowls with noodles before setting 
them in front of each of the diners, regular 
customers. 

As the lunch hour petered our at the Luk Yu 
Teahouse and the last diners scuttled back to 
their offices, Mr. Pang. 47. sagged intoa chair in 
die back of the restaurant and poured himself a 
cup of tea. ■ 

"I leave home at 5:30," he said, “and I get 
here about 6:35 and work until 2 J0 in the 
afternoon. Then I'm off. 1 start again at 6 and 
work until 10:30. Then I go home. I only get two 
days off every month, so 1 work 28 days a month. 
The law is you 're supposed to get four days off a 


mouth, but most restaurants only give two." 
From the floor of the Luk Yu, Mr. Pang h 


From the floor of the Luk Yu, Mr. Pang has 
observed the seasons of life, as reflected in the 
shifting clientele. 

"In the beginning, you don’t care for these 
people," he confessed. “You see people be- 
come successful over the years. You see people 
who fail in their business and they stop coming. 
In the last year or so. more mainlanders have 
been coming in, but they come with the reg- 
ulars." 

Although Mr. Pang was bom in China, he 
came here as an infant when his parents fled 
communism in 1950. 

From his first job at 16. Mr. Pang has worked 
nearly evety day of his life — always in res- 
taurants. 

Over the course of several long conversations. 
Mr. Pang never mentioned Hong Kong's hand- 
over to China and seemed somewhat surprised 
when asked about it 

“I have no feeling about it at all," he said. 


Victor Fung hurtled along the marble floor of 
Hong Kong's still unopened Convention and 
Exhibition Center. Jotting deep into the waters of 
Victoria Harbor, the convention center, a build- 
ing of glass walls and sweeping roofs, is Mr. 
Fung’s baby. 

‘ ‘Thirty-nine months ago." he said, beaming, 
“if you had stood here you would have been in 
the middle of the harbor, soaking wet Even by 
Hong Kong standards, this is an extraordinarily 
fast-track project." 

The center was hurried to completion under 
Mr. Fung's firm hand in one of the three careers 
he juggles — this one as the leader of Hong 
Kong's Trade Development Council. 

So efficient, or hard-driving, was Mr. Fung in 
getting his S623 million edifice completed, that 
both China and Britain chose it as the place 
where the Union Jack will be lowered for the last 
time and the Chinese flag hoisted to reassert 
Beijing's sovereignty over Hong Kong after 156 
years. 

A man both modem and traditional. Mr. Fung 
Lives in a penthouse with a spectacular view of 
Hong Kong atop a 30-story building he owns that 
stands on the site of the first family home. 

Mr. Fung oversees a company with 5,000 
employees and offices in 20 countries and di- 
vides his time among the Trade Development 
Council. Li & Fung and Prudential Asia In- 
vestments, where he is chairman. 

Despite his U.S. passport, Mr. Fung said, he is 
unalterably wedded to Hong Kong, regardless of 
who is running it 

"I’m really a Hong Kong person through and 
through." he said. “We are a totally bicuitural 
family. I think this is the special characteristic of 
Hong Kong people.” 

Yet. the transition to Chinese rule does stir 
something in him. 

“As an ethnic Chinese," he said, “that drives 
the emotion more than the passport you carry." 


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civil service, including having cabinet 
secretaries make yearly “performance 


secretaries make yearly “performance 
pledges" to the legislature. 

The most recent survey of local at- 
titudes. released this week by the re- 
spected Hong Kong Transition Project, 
showed that Mr. Panen was still better 
known, and more popular, than the local 
businessman China has chosen to re- 
place him, Tung Chee-hwa. 

Of course, to Mr. Patten's critics — 
and that includes almost everyone in the 
pro-Beijing camp — popularity' is not 
enough. Mr. Patten is blamed for pick- 
ing an unnecessary fight with China by 
broadening Hong* Kong’s democracy 
and expanding the electoral franchise in 
defiance of Beijing. 

China's leaders were so angry' that he 
rewrote the rules for the 1995 legislative 
elections that they have vowed to scrap 
the legislature entirely and replace ii 
with a new, appointed panel. 

“It is rather unfortunate (hat an ex- 
perienced politician as he is had very 
little experience dealing wi th the 
Chinese government," said Tsang Yok- 
tsing, a member of China's appointed 
legislature and the chairman of the 
Democratic Alliance for the Betterment 
of Hong Kong- a pro-China party. 

Rita Fan. chairman of the appointed 
legislature, was more blunt. "That is 
our last emperor, the last emperor of 
Hong Kong, Mr. Panen." she said. With 
his connection with Britain's Conser- 
vative Party, she said, “he could have 
done much more for Hong Kong." 


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TOKYO (Reuters) — 
Typhoon Opal was expected 
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By 4 P.M., the typhoon, 
packing maximum winds of 
126 kilometers an hour (79 
miles an hour), was about 470 
kilometers (294 miles) south 
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North America Europe 
Very warm to not anfl Mostly sunny ami warm 
numid along tna East Friday through Monday in 
Coast Saturday and Sun- eastern Europe from 
day. but thunderstorms are Greece and Turkey on 
likely Monday. Thunder* north Kilo Poland and 


storms witn heavy down- Belarus. England and 
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high winds and flooding 
rain to southern and cen- 
tral Japan Friday night and 
Satuiday. mckxfing Osaka 
and Tokyo Sunny, not and 
dry in 8e^mg through Mon- 
day. but drenching rains 
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Medicare Premiums 
o [■ | ( ,"' V( ‘S May Rise for Affluent 

* l( h 

■ s Aq Senate Would Also Raise Age of Eligibility 





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By Judith Havemann 

IKhMaj^W) St mrf 


WASHINGTON — Senate leaders 
have endorsed a plan that would require 
: ^affluent elderly people to pav a larger 
: ...share of their doctor bills as part of a far- 
readiing proposal to take a Medicare 
recipient 's high income into account for 
Ivthe first time in the program's history, 
c '■ The plan, approved unanimously by 
•—the Senate Finance Committee, would 

• also raise the age of eligibility for Medi- 
care from 65 to 67, 

*< Together, the two proposals would 
. represent fundamental changes in the 
health-care program for 37 million 
. -Americans that, since its creation in the 
. ■- 1 960s, has provided benefits to all elderly 
. 'people regardless of economic need. 

It also injects the subject of "means 
r 'testing” benefits for the elderly into a 
legislative session already packed with 
. -divisive issues. 

The Medicare proposals, part of a 
■ ■. broader effort to balance the nation's 
. '♦budget, still must go before the full 

- Senate, and a comparable spending bill 
. -moving through ■ the House contains 

• neither of the provisions. 

• Nonetheless, by passing the Senate's 
. Finance Committee — with the support 

-of the Senate majority leader, majority 
. -whip and leading Democrats — the pro- 
■ posals have already gained valuable 
'political currency. 

They also touched off an immediate 
. 'and biner reaction from senior citizen 
. groups. 

“We are definitely opposed to this,” 
said Tricia Smith, a senior federal health 
•care lobbyist for the American Asso- 
ciation of Retired Persons. “It is a 
.totally unworkable proposal." 

- The proposals were die first concrete 
sign of how Washington may attempt to 


grapple with the long-term threat to the 
nation’s budget posed by the increasing 
costs of such middle-class entitlements 
as Medicare Mid Social Security. The 
two federal programs are projected to 
balloon the federal deficit as the gen- 
eration of baby boomers approaches re- 
tirement early in the next century. 

"This is a victory for those of us who 
believe that the mandatory programs 
have to be restrained, and that one of the 
principles to be followed is thar tax- 
payers should not be subsidizing people 
who don't need it,” said Senator Bob 
Kerrey. Democrat of Nebraska. He and 
Senator John Chafee, Republican of 
Rhode Island, sponsored the proposal to 
raise costs on the affluenr elderly. 

"Taxing somebody- who doesn't 
have health insurance to pay for health 
care for somebody who has an income 
of S 100,000 a year is not ri gh t," Mr. 
Kerrey said. 

Under the Senate plan, the higher 
eligibility age for Medicare recipients 
would be phased in over more than a 
generation, moving up slowly from 65 
to 67 by 2027 in lockstep with si milar 
requirements for Social Security. 

Although the age requirements may 
ultimately save the most money, the 
idea of forcing affluent recipients io pay 
a higher deductible is likely to be far 
more controversial. 

The plan would require elderly people 
with incomes of $50,000 or more and 
couples with incomes of $75,000 or 
more to face sharply higher deductibles. 
At the moment, all beneficiaries pay a 
deductible of $100 a year. But that would 
rise to $540 a year for an individual with 
an annual income of $50,000. and to 
$2,160 for those with incomes of 
$100,000. The higher deductibles would 
kick in at $75,000 for a couple, in- 
creasing to the maximum at $125,000. 






RINE0 TRISTAN 

Jp -Mtstux* e»fos- * <?«r asap p h 

^ • • — - n 

\nTli.iRt KtifilL IK IVi • 

Protesters in Mexico marching against the execution of Irineo Tristan Montoya in Texas. 

Execution of Mexican in Texas 
Enrages Many South of Border 


By Mark Fineman 

U>s Angeles Twin Serxirr 


Funding Crisis at Universities 
May Bar Millions of Students 

■ Colleges Are Accused of Not Preparing for the Future 


By Rene Sanchez 

Ucii/fffi£f<iu Post Soviet 


" WASHINGTON — A report on uni- 
versities in the United States warns that 
■the pressures of growing enrollment, 
rising tuition and declining fuading 
■•have put campuses on a dangerous fi- 
nancial course and threaten to exclude 
• many students from higher education. . 
” The report, by the Rand Corp.. draws 
-4 bleak ponrair of the financial prob- 
•lems facing universities and suggests 
that many of them are foundering in 


their attempts to solve those problems. 
Thomas Kean, a former governor of 
New Jersey who helped lead the study, 
said that rf current campus trends in 
financing and enrollment continue into 
the next century "millions of Amer- 
icans will be denied the opportunity to 
go to college.” 

The report says that neither public nor 
' private support "of colleges is keeping 
pace with campus costs or student en- 
rollment. The study projects that by 20 15 
die number of full-time college students 
will swell by 3 million to 13 million. 


MEXICO CITY — Despite weeks of official 
protest, popular outrage and desperate appeals in the 
nation of his birth, Texas prison officials strapped a 
Mexican fisherman. Irineo Tristan Montoya, -to a 
gurney and injected him with a lethal dose of chem- 
icals for a 1985 murder he said he did not commit. 

The execution Wednesday was rhe third in three 
days and the 24th this year in Texas, which leads 
America in carrying out death penalties. The ex- 
ecution; at Huntsville State Prison, came after the 
U.S. Supreme Court and the governor of Texas, 
George Bush, turned down appeals by Mr. 
Tristan’s family and the Mexican government to 
spare his life. 

In Mexico, which has no death penalty and 
where many view the United States these days as 
anti-Mexican, the execution of the 30-year-old 
convicted murderer capped weeks of national an- 
ger and frantic diplomacy by die government, 
which had appealed to Mr. Bush, the U.S. State 
Department and President Bill Clinton to inter- 
vene. 

The case highlighted the clash of cultures and 
laws in the neighboring nations and raised doubts 
about what, if anything. Mexico will be able to do 
for its 11 nationals who are still on death row in 
Texas. 

Early Wednesday, under pressure from oppo- 
sition politicians and others in his anxious nation, 
the foreign minister of Mexico, Jose Angel Gurria. 
sent a final letrer to Mr. Bush, urging him to slay the 
execution for 30 days on humanitarian grounds. 
Meanwhile, Mr. Tristan’s lawyers attempted to 
prove ■fhat their client’s rights had been violated 
during his arrest for the robbery and murder in I9S5 
of a motorist. John Kilheffer, in Brownsville. 
Texas. 

Mr. Bush rejected the appeals, and prison of- 


ficials carried out the sentence ordered by a Camer- 
on County court 1 1 years ago. 

Demonstrating the depth of emotion that the case 
has generated here, protesters from Mr. Tristan's 
home state of Tamaulipas filled the border crossing 
closest to Huntsville, waving banners shouting 
slogans against the death penalty. 

Television news broadcasts led with stark im- 
ages of Mr. Tristan in his spartan death-row cell. 
Some bulletins included lengthy, live interviews 
with Mr. Tristan’s father and u'irh Mexico's consul 
general in Houston. Manuel Perez Cardenas, who 
visited the condemned man at noon. 

Mr- Perez said he had turned down an invitation 
from Texas officials to attend the execution. “U is 
a custom that we in Mexico have not grown up 
with,” he told Mexico’s Televisa network. “We 
just don’t understand this.” 

Mr. Tristan’s lawyers have said they based their 
appeals on irregularities in their client’s arrest, 
which came two weeks after Mr. Kilheffer was 
stabbed more than 20 times and dumped near the 
Rio Grande river. Mr. Tristan signed a confession 
admitting involvement in the slaying bur blaming 
the actual killing on another Mexican. Juan Vil- 
lavicencio, who was later tried and acquitted. 

Mr. Tristan’s attorneys say his confession was 
written in English, a language he does not speak, 
and that he thought he was signing an immigration 
document at the time. They also say police failed to 
advise Mr. Tristan of his right to visit with a 
Mexican consular officer after his arrest. 

In a recent interview, Mr. Tristan said: “If I had 
been able to pay for a good defense and an in- 
vestigator. all the charges would have been thrown 
away within a week of my arrest.” 

In sharp contrast to the frenzy south of the 
border, the Huntsville State Prison spokesman. 
David Nunnelee. bad a taciturn view of Mr. 
Tristan's last hours. “This is no different than any 
other execution,” he said. 


O.J. Simpson Trophy 
Is Delivered to Court 


u Los Angeles Times Service 

■’ LOS ANGELES — O.J. 
. '-Simpson’s Heisman Trophy 
— one of the most valuable 
w items missing from his house 
•"when sheriff’s deputies 
seized his belongings to sat- 
isfy a civil judgment — has 
- been delivered to the Beverly 
( -Hills courthouse by a member 
‘ of the legal team representing 
,'the estate of Nicole Brown 
; Simpson. 

* Lawyers for the Brown 
family would not comment 
on the matter, other than to 
-confirm that the trophy “very 
■recently came into the pos- 
session, of one of the estate’s 
attorneys, who promptly 
'turned it over to the sheriff.'’ 
- Lawyers for Fred Gold- 
man,- the father of Ronald 
Goldman, who was slain 


along with Mr. Simpson’s 
former wife on June 12, 1994, 
said the sudden appearance of 
the trophy supports their con- 
tention that Mr. Simpson is 
improperly working with the 
Brown family to shield his 
assets from the Goldmans. 

Any money paid to satisfy 
the Browns’ judgment against 
Mr. Simpson ultimately goes 
to Mr. Simpson’s two chil- 
dren with Nicole Brown 
Simpson, the beneficiaries of 
their mother's estate. 

A civil court jury in Feb- 
ruary found Mr. Simpson li- 
able for the deaths of Ronald 
Goldman and Mr. Simpson's 
former- wife and ordered him 
to pay $33.5 million in dam- 
ages. Mr. Simpson was ac- 
quitted on murder charges in a 
1995 criminal trial. 



Away From Politics 

• Sirhan Sirban, who assassinated Robert F. Kennedy in 

1968, has been denied parole for the 10th lime, despite his 
claim that he had new evidence of being wrongly convicted. A 
parole board turned down Mr. Sirhan's bid at Corcoran State 
Prison in California. (Reuters) 

• A livery cab driver was shot and lolled in Queens, New 
York, after he honked his horn aia van in front of him, the police 
said- Witnesses said that a passenger in the van, angered by the 
bonking, stepped out and shot at the other driver. (NYT) 

• The life of Malcolm .Vs widow was again in danger as new 
medical problems threatened her recovery from severe burns. 
Betty Shabazz, 6 1 , suffered third-degree bums over 80 percent 
of her body in a fire at her Yonkers, New York, apartment on 
June 1 and has been in extremely critical condition. ( AP ) 

• Illinois has bought a rare banner from Abraham Lincoln's 
1864 presidential re-election campaign for $10,000. (AP) 

• To combat parking meter vandalism. Washington has 
signed a seven-year contract with Lockheed Martin Corp. to 
install and manage 15,500 digital parking meters. (AP) 


Race-Based Voting 
Suffers a Setback 

Supreme Court Backs Georgia Map 
With One Majority-Black District 


Tltf Ms iii uialPms 

WASHINGTON — Deliv- 
ering another blow to efforts 
to maximize the voting clout 
of racial and ethnic minor- 
ities. the Supreme Court on 
Thursday upheld a Georgia 
congressional redisricting 
plan that features only one 
majority-black district. 

By a" 5-4 vote, the justices 
ruled that the redisricting 
map, drawn by a three-judge 
federal court after the Georgia 
Legislature proved unable to 
deliver one, was valid. 

The decision continued a 
trend by the highest U.S. 
coun. which since 1993 has 
disapproved of state officials' 
attempts to draw congres- 
sional districts that preserve 
or enhance the chances of 
minority candidates for vic- 
tory. 

Civil rights advocates had 
sought a congressional redis- 
ricting plan for Georgia's 1 1 
congressional seats that 
would feature two or three 
majority-black districts. 

But. writing for the coun. 
Justice Anthony Kennedy re- 
jected those efforts, saying 
the solution to the problem 
“would not be adoption of the 
constitutionally infirm, be- 


cause race-based, plans.” 

Writing for the four dis- 
senting justices. Justice 
Stephen Breyer said the lower 
court “should have drawn 
boundaries so as to leave at 
least wo majority-minority 
districts rather than one.” 

The court made these other 
rulings on Thursday: 

• It upheld, by a 5-1 vote, 
ihe death sentence of a con- 
victed Virginia murderer 
whose case has drawn 
protests from Pope John Paul 
II and rhe Italian government. 
Joseph Roger O'Dell 3d 
wanted to tell the jury that an 
alternative to death was a life 
sentence without possibility 
of parole. 

• It ruled that the federal 
government — and not 
Alaska — owns disputed off- 
shore. submerged lands along 
the state's northeast coast. 

• It ruled unanimously that 
a Minnesota dairy farmer 
watted too long to sue over a 
defective silo that caused his 
cattle feed to get moldy. 

• It made it easier for dis- 
abled dock workers to seek 
changes in benefits they re- 
ceive when their health and 
employment circumstances 
chance. 


POLITICAL NOTES 


Gingrich Outlines Program 
To Promote Racial Healing 

WASHINGTON — In the first clear-cut Republican 
response to President Bill Clinton's speech last weekend 
on race relations, the House speaker. Newt Gingrich, has 
sketched out a program to promote racial healing and 
black achievement. "He said his program relied more on 
specific actions and less on theory , talk and affirmative 
action. 

In a speech before the Orphan Foundation of America, 
a charitable group that helps foster children. Mr. Gingrich 
sought to outline an upbeat, cun-do approach to the 
country’s nettlesome problems of race and poverty that 
focused on individual achievement and not group loy- 
alties. “Obsessing on race will not allow us to move 
beyond race.” he said. 

His program included several positions that have long 
been espoused by conservatives to achieve progress to- 
ward equality without using affirmative action. Among 
these are the use of vouchers to allow parents of low- 
income children to pay school tuition for their children, 
tax cuts and fewer government regulations, especially for 
small business, and greater use of religious institutions 
and charities to operate social programs. (i\)T) 

Leaders Play Down Divisions , 
But Republican Strains Linger 

WASHINGTON — Newt Gingrich, the House speak- 
er, and the House majority' leader. Richard Armey. Re- 
publican of Texas, sought to present a united fronr 
Wednesday after reports of sharp divisions between the 
two and widespread conservative Republican dissatis- 
faction with Mr. Gingrich’s leadership. 

Despite the conciliatory comments made to reporters 
on Wednesday. Republicans say Mr. Armey’s reiarions 
with Mr. Gingrich and another powerful Republican, 
Robert Livingston of Louisiana, the head of the House 
Appropriations Committee, remain badly strained. 

And Mr. Armey has encouraged conservative dis- 
sidents to challenge the leadership over fiscal year 1998 
spending bills to advance their agenda, protect their 
interests and embarrass Mr. Gingrich. ( \i'Pi 


Quote /Unquote 


Representative Robert Livingston. Republican of 
Louisiana, on why House Republican leaders killed and 
then resuscitated a set of modest changes that had taken a 
bipartisan task force on ethics procedures four months to 
draft: “I made the unilateral decision to pull the plug, and 
I’m making the decision to plug it back in.” f A (YTi 


B-nnu» \irtnvWHfUri, 


O J. Simpson posing with the Heisman Trophy in 1968. 










Art 


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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JUNE 20, 1997 


INTERNATIONAL 


Kabila Is Said to Ask Officials to Slow UN Massacre Inquiry 


BRIEFLY 


By John Pomfret 

Washington Post Service 


Sese Seko, who fled into exile May 16. 


BUKAVU, Congo — Congo’s new 
president, Laurent Kabila, has told local 
officials here to do as little as possible to 
aid a UN investigation into alleged mas- 
sacres of refugees by troops that fou ght 
for him. Western and Congolese sources 
said. 

At an unusual meeting here last week- 
end, Mr. Kabila and other representa- 
tives of his Alliance of Democratic 
Forces for the Liberation of Congo 
warned government officials from Kivu 
Province, which is on Congo’s eastern 
border with Rwanda, Uganda and Bu- 
rundi, not to direct human-rights inves- 
tigators to any sites of mass graves or to 
potential witnesses, the sources said. 

The sources said Mr. Kabila and his 
government were under intense pressure 
from Rwandan and Ugandan security 
officials to stymie the UN investigation. 
Rwandan and Ugandan security forces 
formed an important pan of Mr. Kabila’s 
armed uprising against President Mobutu 



shal 

units a tree hand in gunning 
sands of Hutu refugees who had been 
living in what was then Zaire since 1 994, 
the sources said. The refugees came 
mostly from Rwanda after radical Hutu 
leaders masterminded the killing of an 
estimated 500.000 Tutsi in Rwanda. A 
Tutsi-led Rwandan uprising drove them 
out of Rwanda. 

The officials, both Congolese and 
Western, said Mr. Kabila had held the 
government meeting in Bukavu because 
it was the capital of Kivu Province, 
where many of tee massacres are alleged 
to have taken place. A team of UN 
investigators is due to arrive in Congo on 
Friday and to begin work July 7. 

■ Mr. Kabila agreed June 7 in a meeting 
with Bill Richardson, the U.S. ambas- 
sador to the United Nations, to allow the 
UN investigation in Congo. Since then, 

with the inquiry. Efforts toreach^^k^s 
of Mr. Kabila’s government in Kinshasa 


and Washington for comment on tee 
Bukavu meeting were unsuccessful. 

The United States and tee European 
Union have made aid for this impov- 
erished country conditional on respect 
for human rights. In a letter Tuesday, the 
EU specifically mentioned tee UN in- 
vestigation into alleged massacres of 
refugees as an important first step in 
seeming European assistance for Mr. 
Kabila’s government. 

About 1 million Hutu refugees fled to 
what is now Congo in 1994 and lived in 
a string of camps along tee border with 
Uganda and Rwanda. Radical Hutu mi- 
litiamen used the camps as bases to 
launch raids into Rwanda. When Mr. 
Kabila’s rebellion erupted in October 
1996, rebel forces targeted tee camps, 
and tens of thousands of refugees fled 
deeper into Zaire's jungle. 

Over tee past six months, UN aid 
teams bave traveled across Congo look- 
ing for refugees, although they have 
barred from some areas by Mr. Kabila’s 
military units. Since April 27, about 
50,000 Hutu refugees have returned to 


Rwanda from Cargo in a UN airlift But 
tee UN refugee agency says between 
200,000 and 250,000 refugees are still 
missing in Congo. Some U.S. officials 
have said those numbers are inflated. 

UN aid officials say they believe 
killings are continuing in isolated jungle 
areas in western, central and northern 
parts of tiie country. A team of UN relief 
workers was allowed to travel to tee 
central town of Shabnnda this week for 
tee first time since laze March. 

UN officials have obtained informa- 
tion about summary executions of Hutu 
refugees by Rwandan andUgandan com- 
mando squads in teat region, they said. 

The local commanding officer, a 
Rwandan army officer known as Com- 
mander Jackson, has identified himself 
to UN officials as "tee exterminator” 
and told them teat his job is to kill Hutu 
refugees, tee sources said. Commander 
Jackson h as said that all Hutu male 
refugees are members of a radical Hutu 
paramilitary organization called the In- 
terahamwe that carried out much of tee 
anti-Tutsi genocide in 1994, they said. 


ROBUST: U.S. Gloating but Not Lecturing 


Continued from Page 1 

The French have already made their 
views quite clear in elections June 1, 
rejecting the austerity measures, deficit 
cutting and bond-market discipline that 
were the key to tee American recovery. 

"Just a few months ago tee consensus 
among the world’s leaders seemed to be 
teat there was a right way to guide your 
economy, and teat looked a lot like the 
American way," said Robert Hormais. 
the vice chairman of Goldman, Sachs & 
Co. who is a veteran of tee delicate 
pirouettes that countries perform at these 
meetings to pretend that they are engaged 
in common strategy, even if that stretches 
credulity. 

"The consensus that we thought was 
universal among leaders turns out not to 
be shared by voters,' ’ Mr. Hormats said. 
"We are coming to the limits of tee 
political acceptance of these ap- 
proaches." 

The backlash now under way has been 
building for a long time, and not cmly in 
Europe. President Clinton's difficulties 
getting authority from Congress to ne- 
gotiate new free-trade accords around the 
world is rooted in a visceral national 
sense teal the North American Free Trade 
Agreement has harmed American work- 
ers — an issue that would probably be far 
more politically potent now, adminis- 
tration officials concede, if Mr. Clinton 
could not boast that 12 million jobs had 
been created since he came to office. 

None of the other countries attending 
the meeting enjoy that political cushion. 
Unemployment in Germany is running 
over 1 1 percent, and it is over 12 percent 
in France and Italy. Russia's economy, by 
most reckonings, shrank in the last six 
months. But none of the leaders of those 
nations seems eager for a lecture from the 
United States. They point out that pre- 
cisely tee same factors that created 
growth in America over tee past five years 
— the globalization of businesses, rapid- 
fire technological innovation, brutal cost- 
cutting — are the same forces that create 
enormous insecurity in the work force. 

“I think there is a sense 3roand tee 
world teal tee steps that worked in 


America do not easily translate into oth- 
er cultures," said Park Ungsuh, the pres- 
ident of tee Samsung Economic Re- 
search Institute, which is owned by the 
South Korean electronics giant 

One senior European union official 
echoed that saying, "It’s a bit arrogant of 
tee Americans to assume that what woiks 
in Illinois will work in Frankfurt" 

But he added, “arrogance is not un- 
known in Washington." 

Clearly there is plenty for Mr. Clinton 
to celebrate: tee lowest unemployment 
in a quarter-century, the best inflation 
numbers in almost as long. That alone 
changes the dynamics of this meeting. 

Such meetings were rarely happy 
events for Washington in tee late 1980s 
and early ’90s. The Japanese usually 
delivered a stock lecture about the evils 
of large budget deficits, which they said 
pushed up interest rates and dragged 
down America's trading partners. 

"When I first came to Washington, 
what you'd hear at summit meetings is 
teat we were yesterday's economy," 
Mr. Rubin noted tee other day. 

During the review of American eco- 
nomic conditions that is part of every 
summit meeting. Mr. Rubin plans to 
make tee point that tins year tee U.S. 
budget deficit may drop to 1 percent of 
gross domestic product. Prime Minister 
Ryu taro Hashimoto of Japan will be 
arriving with one of the largest deficits: 
nearly 7 percent of the country's GDP, 
what Japan's government spokesman 
called tee other day "a record budget 
deficit” that seems likely to force a 10 
percent reduction in the country's for- 
eign aid budget, among other cuts. 

So will the United States be dusting 
off some of tee old lectures it received so 
often at past summit meetings? 

“I'm tempted.” a Clinton economic 
advisers said. "Very, very tempted.” 

But perhaps the most interesting en- 
counters of the gathering will be between 
Mr. Clinton and tee leaders of tee Euro- 
pean Union, who have spent the week in 
Amsterdam trying to patch up differences 
with the French teat are making their 
single currency project look fragile. 

The new French prime minister, Li- 



Wcndy Sue Lna/Ageocc Piuwftnt ■ 

RUNNING FOR COVER — Palestinians carrying an injured stone 
thrower in the West Bank town of Hebron on Thursday, the sixth day 
in a row of fighting between Palestinian youths and Israeli soldiers. 


onel Jospin, came to office pledging to 
create 350,000 state-financed jobs, cut 
the work week to 35 hours from 39 
without a commensurate loss of pay, and 
to resist tee sale of state-owned compa- 
nies — and tee layoffs teat would pre- 


YELTSIN: Down but Never Out , Russian Leader Rebounds 


Continued from Page 1 

industrial democracies, but Mr. Yeltsin’s 
invitation is more of a promise from tee 
West that Russia will not be left out as it 
struggles through a difficult transition. 

In a roundtable interview with jour- 
nalists before his departure, Mr. Yeltsin 
emphasized his eagerness to bring for- 
eign investment to Russia's turbulent 
young market economy. He noted that 
the lower house of Pariiament had just 
approved a revised tax code, then he 
praised German investment, but sternly 
reproached a correspondent: "Why does 
Japan still invest little in Russia? You are 
tee second largest nation." 

The Group of Seven comprises Bri- 
tain. Canada, France, Germany. Italy, 
Japan and the United States. 

The meeting is “pure symbolism, but 
very important for Yeltsin.” said Andrei 
Piontkowsky. director of the Center for 
Strategic Studies in Moscow. “He is one 
among equals, a member of tee pri viieged 
club, he opens with a speech and the final 
document begins with the words. “We, 
the eight industrial democracies.’ ” 

“Of course, it's a bit of an over- 
statement.” because Russia is not one of 
the rich industrial democracies, Mr. 
Piontkowsky added. But, “it's reason- 
able psychotherapy for the Russian 
political class. U is suffering from some 
complexes: loss of empire and power." 


Mr. Yeltsin cleared the decks for tee 
Denver summit meeting with a series of 
agreements in May. He signed a part- 
nership agreement with NATO, a peace 
agreement with tee separatist republic of 
Chechnya, and settled a five-year-long 
dispute with Ukraine over division of tee 
Black Sea naval fleet. 

More important. Mr. Yeltsin has 
staged a remarkable comeback to again 
set the agenda inside Russia. After his 
re-election last year, he appeared to slip 
into a torpor. His serious illness was not 
publicly acknowledged. Then he finally 
admitted that he needed heart surgery. 

Having lost more than 50 pounds (23 
kilograms), Mr. Yeltsin has bounced 
back, installing two young reformers, 
Anatoli Chubais and Boris Nemtsov, to 
be deputy prime ministers. Mr. Nemt- 
sov. a popular provincial governor be- 
fore his appointment, has dominated the 
political scene. "With Nemtsov, Yeltsin 
got a chance to demonstrate to society 
his successor, which is a gain." said 
Ludmila Telen, deputy editor of Mos- 
cow News, a progressive weekly. 

Mr. Yeltsin's team has at least prom- 
ised more action than was being con- 
templated last year, although results are 
yet to be seen, and Russian industry 
remains moribund. Among other things, 
the reformers have imposed tight reins 
on Russia’s mammoth energy mono- 
polies. scaled back Russia's unrealistic 


budget, struggled to step up tax col- 
lection. planned to end generous res- 
idential subsidies, and launched a pop- 
ulist campaign against corruption. 
Perhaps most important, Mr. Yeltsin ap- 
pears to have finally embarked on se- 
rious plans for military reform, which 
languished for five years. 

In Denver. Mr. Yeltsin's agenda is to 
push for Russian entry to world economic 
organizations such as the World Trade 
Organization, the Paris Club of debtor 
nations and the Organization for Eco- 
nomic Cooperation and Development. 


sumably accompany such privatization. 
All of those plans run counter to the 
American model of cutting deficits to 
free up capital for en trepreneurship. ven- 
ture capital and new technology. 

Even Germany, the economic discip- 
linarian of Europe, attempted a book- 
keeping gimmick — revaluing its gold 
supplies — to keep from making painful 
budget cuts needed to meet tee require- 
ments of joining the European monetary 
union. That failed, and now Germany’s 
embattled finance minister. Theo 
Waigel, is facing such a political crisis at 
home that be is taking the rare step of 
missing tee Denver meeting. 

None of this will break out into tee 
open daring tee Denver meeting, of 
course. The economic communique was 
precooked weeks ago, stuffed with the 
usual bland pronouncements that create 
the illusion of unanimity. 

Mr. Rubin made it clear several times 
this week dial the United States plans to 


; ptaj 

Mr. Yeltsin also wants to press tee' stay out of Europe's debate over tee euro. 


United States to drop trade restrictions in 
tee Jackson- Vanik amendment, legisla- 
tion dating from tee Cold War that was 
designed to force the Soviet Union to 
allow free emigration, which Russia now 
permits. He is also planning to propose a 
conference on world energy, call for co- 
operation in environmental monitoring 
and joint efforts to counter earthquakes 
and tsunamis in tee North Pacific. 

Mr. Yeltsin also told reporters that he 
had decided against attending tee July 
summit meeting in Madrid, where 
NATO is expected to invite Poland, 
Hungary and tee Czech Republic to join 
tee alliance. * ‘I think the Russian people 
would not feel comfortable if 1 went 
there,’’ said Mr. Yeltsin, who 
grudgingly acquiesced in tee expansion 
plan last monte. 


But in the private meetings that take place 
on tee fringes of tee gathering , there will 
probably be some subtle reminders that 
tee markets would punish countries teat 
waver from deficit-cutting. 

The question looming over this meet- 
ing is whether the retreat from Mr. Ru- 
bin’s deficit-cutting prescriptions is a 
fundamental change in direction, or just 
a temporary setback. "There are people 
in every country, our own included, who 
want to turn their backs on reality," Mr. 
Rubin said. "But we're talking here 
about fundamental pressures, funda- 
mental movements that no country can 
insulate itself from. 

“The real lesson is that if you don’t 
bave the fiscal discipline you need, you 
pay a price. That message may take a 
long while for people to understand.” 


Amos Tutuoia, Noted Nigerian Novelist, Dies at 77 


The Associated Press 

ABUJA, Nigeria — Amos Tutuoia, 
77. the Nigerian writer celebrated, and 
sometimes vilified, for bringing the 
tales, language and imagery of ordinary 
Nigerians to a wider audience, died on 
June 8. 

His first and best known novel, “The 
Palm wine Drinkard” attracted enthu- 
siastic reviews abroad when it appeared 
in 1 952. The Observer of London called 
it "a brief, thronged, grisly, bewitching, 
tall, devilish story.” 

At home, some among the Nigerian 
elite accused Mr. Tutuoia of feeding 
Western stereotypes of uneducated Af- 
ricans, and of having a limited grasp of 
English. But Remi Adedokuo, a theater 
professor at the University of Ibadan, 
said Mr. Turuola ’s works should be seen 
as "African classics because they deal in 
folklores which are uniquely presented 
in refreshing idioms, imagery, metaphor 


and similes that are truly traditional.” 

Mr. Tutuoia borrowed heavily from 
well-known Nigerian folk tales, often 
modernizing teem, using exaggeration, 
grammatical flights of fancy and de- 
scriptive phrases that have direct par- 
allels in traditional Yoruba story 
telling. 

Bom in 1920 in Abeoukuta in the 
Yoruba heartland, he trained as a black- 
smith before World WarH. and served in 
Britain’s Royal Air Force. in Lagos dur- 
ing the war. He worked as a messenger, 
storekeeper and clerk at the then Nigeria 
Broadcasting Coip. before turning to 
writing. 

Richard Jaeckel, 70, Actor 

New York limes Service 

Richard Jaeckel, 70. whose tough-guy 
roles as a grizzled GI. gunslinger, cop 
and outdoorsman made him familiar to 
film and television fans, teed Saturday 


of cancer in Woodland Hills. Califor- 
nia. 

A stocky, boyish-faced character act- 
or, Mr. Jaeckel was perhaps best known 
for "The Duty Dozen.” the 1967 film 
about a group of convicts sprung from 
prison to be unleashed on tee Nazis. 

He was nominated for an Oscar as best 
supporting actor in tee 1972 Film 
"Sometimes a Great Notion," based on 
Ken Kesey’s novel set in a strike-bound 
Oregon logging camp, in which he 
played one of the sons of Henry Fonda 
and a brother of Paul Newman, who also 
directed, 

Gonzalo Fonseca, 74, Artist 

New YvrL Times Service 

Gonzalo Fonseca. 74, a Uruguayan- 
born artist best known for his stone 
carvings of enigmatic architectural 
forms, died of a stroke June 1 1 at his 
studio in Seravezza. Italy. 


During a trip to that region in March, 
UN officials heard regular gunfire and 
saw numerous new graves as well as 
skulls and bones along forest paths. 

In Bukavu, radio stations run by Mr. 
Kabila’s Alliance initially reported last 
week teat he would arrive Friday with 
the presidents of Uganda and Rwanda, 
In reality, he ted meet Saturday with 
representatives of those governments, 
who warned him not to allow UN in- 
vestigators a free hand in their inves- 
tigation, Congolese government sources 
said. 

Mr. Kabila then issued his instruc- 
tions at the meeting with Kivu Province 
officials, the sources said. 

Sunday, Alliance-run radio called ail 
Alliance party members to another 
meeting in the center of town. There the 
party members also were told that they 
were not to help the UN team find grave 
sices or witnesses. 

“We were told to do as little as pos- 
sible. a participant said. “We were told 
to stall the UN team and make 
everything go very, very slowly.” 

IVORY: 

UN Panel Eases Ban 

Continued from Page 1 

was tee United States, which had arrived 
in Harare at tee start of the convention 
meeting last week set against any lifting 
of the ivory ban. 

Despite tee gulf between the Wash- 
ington and southern African positions, 
Don Barry, leader of tee U.S. delegation 
to the meeting, pledged that Washington 
would work with the convention to en- 
sure that proper controls are put in place 
to carry off tee new ivory trade in a 
manner that keeps poaching and other 
abuses at bay. 

The status of the African elephant — 
which had been in a category allowing no 
trade whatsoever — overshadowed most 
other endangered -species proposals 
presented to the convention conference. 
They ranged from pygmy opossums to 
parakeets, from cacti to mahogany, from 
hairy armadillos to whales. 

Japan and Norway had asked the con- 
vention to lift hunting and trade restric- 
tions on die Atlantic and Pacific ocean 
whale, but were rebuffed on each pro- 
posal. Both countries are notorious for 
controversial whale hunting. Like ele- 
phants, whales rest in the highest cat- 
egory of protection, called Appendix L 
which is reserved for "species 
threatened with extinction that are or 
could be affected by trade." 

South Africa narrowly lost its bid to 
have tee southern white rhino’s highest 
level of protection amended so that trade 
options could be studied in advance of a 
possible downlisting of the protection. 
South Africa may tty Friday to get tee one 
vote it needed for its proposal to pass. 

The United States and Germany were 
successful in their bid to have the caviar- 
producing sturgeon moved from a low to 
a moderate level of protection called 
Appendix H. which is for species "not 
necessarily in danger of extinction bnt 
which co aid become so if trade in them 
were not strictly regulated.” 

Facing stiff opposition from the tim- 
ber industry, the United States and 
Bolivia failed, however, to have big- 
leafed mahogany placed in tee Ap- 
pendix n category. The United Stales 
also lost its bid to get more protection for 
tee map turtle, which is indigenous to the 
southern coastline of the United States. 

Though the UN convention represents 
a diverse group of governmental and 
private-sector interests, the U.S. failures 
were attributed by some to an attempt to 

D 'sh Washington for taking such a 
line on the elephant proposal. 


E 


Protesters Disrupt 
Kenya Budget Day 

NAIROBI — Scuffles broke out 
Thursday in Kenya's Parhamem 
when opposition members advoc- 
ating constitutional reform shouted 
down the finance minister during an 
annual budget presentation. 

On the streets, soldiers and riot 
ilice with bats and tear gas kept a 
iid on anti-government protests. 
Opposition leaders said they were 
forced to call off their planned 
march on tee Parliament. Later, the 
police fought street banles with 
hundreds of students. By afternoon, 
the city resembled a ghost town, 
with most shops closed. 

The protests and the rebellion in 
Parliament were a major embarrass- 
ment to President Daniel arap Moi, 
upsetting the annual day of pomp 
and ceremony when the president 
visits Parliament to present his 
budget for tee next year. (NYT) 

Tehran Is Critical 
Of Cohen Remarks 

TEHRAN — Iran on Thursday 
attacked tee U.S. defense secretary, 
William Cohen, for portraying tee 
country as a threat to regional sta- 
bility during his Gulf tonr. 

"His comments were a continu- 
ation of poisonous U-S. propa- 
ganda against Iran aimed at cre- 
ating a sense of anxiety in the 
region.” said a Foreign Ministry 
official, quoted by the official press 
agency EKNA. 

During his five-day tour, ending 
Wednesday, Mr. Cohen warned of 
what he said were threats from Iran 
and Iraq and underlined a commit- 
ment to keep U.S. forces in the 
region to protect tee flow of oil and 
contain tee two countries. I AFP ) 

Brazil Policeman 
Absolved in Deaths 

RIO DE JANEIRO — A police 
officer convicted of killing eight 
street children in Rio de Janeiro four 
years ago was acquitted of tee 
murders Thursday after a new trial. 

Nelson Oliveira dos Santos 
Cunha, sentenced to 261 years in 
prison at his first trial in November, 
was given an 18-year term for the 
attempted murder of a companion 
of tee eight victims. Under Brazili- 
an law. a retrial is automatic for 
anyone sentenced to 20 years or 
more for a single crime. (AP) 

For the Record 

The United States and Canada 
have resumed talks in Vancouver, 
British Columbia, over dividing the 
Pacific salmon catch, nearly a 
monte after negotiations collapsed 
in acrimony. Fisheries Minister 
David Anderson of Canada said he 
hoped for an accord by tee end of 
the week. (Reuters) 

President Leonid Kuchma of 
Ukraine replaced Prime Minister 
Pavlo Lazarenko on Thursday for 
the duration of an unspecified ill- 
ness, in a move an administration 
official indicated could lead to his 
dismissal. (AP) 

At least 52 people have been 
killed in the eastern Sierra Leone 
town of Kenema this week in 
clashes between junta forces and a 
loyalist militia, military sources 
said Thursday. (AFP) 


DRAGNET: Global Manhunt for Suspect 


Mr. Fonseca, who represented Ur- 
uguay in the 1990 Venice Biennale and 
created a 40-foot cast-concrete tower for 
the 1968 Olympics in Mexico City, 
began his career at a dynamic moment in 
Latin American art. studying painting in 
the workshop of the renowned mod- 
ernist Joaquin Tones -Garcia in Mon- 
tevideo between 1942 and 1949. 

Martha Duffy, 61. a former senior 
editor in charge of coverage of the per- 
forming arts for Time magazine, died 
Monday of cancer in New York. Mrs. 
Duffy, one of tee first women to become 
a senior editor at the magazine, held the 
post from 1974 to 1989. (NYT) 

Thalassa Cruso, 88, an authority on 
plants known for her common-sense if 
often loopy gardening progr ams on tele- 
vision in tee 1960s, died June 11 in 


Continued from Page 1 

ducting a business deal with him, they 
lured Mr. Kansi to tee hotel where be 
was arrested, a senior FBI official said. 

"Mr. Kansi may have thought for 
several years he was safe in his 
hideout,” said the State Department 
spokesman, Nicholas Bums. "He 
wasn’t safe.” 

The arrest took place in a small town 
near tee Pakistani provincial capital of 
Quetta, where Mr. Kansi ’s family- owns 
substantial real estate and businesses, 
according to a U.S. official. 

To facilitate tee arrest and Mr. 
Kami's return to tee United States, the 
Stele Department negotiated an extraor- 
dinary diplomatic agreement with an- 
other country, administration officials 
said Wednesday. 

The officials insisted that the terms of 
the agreement remain secret to help fu- 
ture law-enforcement operations. The 
officials also refused to identify the na- 
tion involved, although several indica- 
tions point to Pakistan. Allowing Mr. 
Kansi. a Pakistani citizen, to be removed 
from his homeland without legal re- 
course would have involved suspending 
normal extradition proceedings, people 
close to the matter said. 

If Mr. Kansi is convicted of capital 
murder in the attack — two CIA em- 
ployees, Lansing Bennett. 66. and Frank 
Darling, 28, were killed — the state 
prosecutor in Virginia will seek the 
death penalty. 

Dr. Bennett and Mr. Darling died and 
three other people were hurt when a 
gunman sprayed rifle fire at automobiles 
waiting to enter CIA headquarters at tee 
start of tee workday on Jan. 25. 1993. 
Corning less than a year after the World 
Trade Center bombing in New York, the 
attack greatly heightened concerns 
about Foreign terrorists oq U.S. soil. 

President Bill Clinton approved the 
plan to capture Mr. Kansi and was 
briefed on the progress of the mission 
daily, sometimes more than once a day, 
administration officials said. One of- 


... „ , m , , • - — — ».? nauvu uiuiiai:. sain ijne or- 

Wellesley. Massachusetts. (WT) tidal said be believed Mr. Cliroonrem 


some correspondence to a foreign leader 
he would not name to clear tee way for 
the operation. 

At his daily briefing Wednesday, tee 
White House press secretary, Michael 
McCunry, said Mr. Clinton was "de- 
lighted to get tee news” of Mr. Kansi’s 
arrest and considered ir a message to 
other would-be terrorists. 

The president "makes clear that any 
act of terror directed against tee Amer- 
ican people will result in punishment,*’ 
Mr. McCurry said. "And even if it takes 
years, those teat we believe responsible 
will be tracked down, hunted down and 
brought to justice." 

Senior FB I and CIA officials said they 
had no information linking Mr. Kansi to 
any terrorist groups and no knowledge 
about his motives in allegedly carrying 
out the 1993 attack. 

Aside from his initial protests at tee 
hotel where he was arrested, Mr. Kansi 
has behaved with an unusual cordiality 
given his situation, according to FBI 
officials. Soon after his arrest, FBI 
agents showed Mr. Kansi a poster teal 
identified him as one of tee "10 most 
wanted" fugitives and asked him if he 
recognized himself, the officials said 
Mr. Kansi glanced at tee photograph and 
said, 4 4 Yes, that’s me.” 

Oh the long voyage to Washington. 
Mr. Kansi was chatty, the officials said. 

A senior CIA official said that for tec 
past four years, the agency had mate* 
tained contact with individuals and 
groups in Pakistan and Afghanistan hop - 
ing to get hard information on Mr. Kansj 
whereabouts. Out of that effort, a lead 
began to develop teat looked promising. 

The United States had offered $2 mil- 
lion in reward money for information 
leading to Mr. Kansi’s arrest, and gov- 
ernment officials said those : funds played 
a significant part in motivating those woo 
helped identify and locate Mr. Kansi. 

Once the CIA determined that they 
were acting in good faith, agency of- 
ficials contacted the FBI, and wordcamo 
down to a group of agents who bad beep 
pursuing Mr. Kansi since shortly after 
tee CIA shootings. 




i 


- ■■ r 


i 

i T 



PAGE 5 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JUNE 20. 1997 


a 


ASIA/PACIFIC 


' y A China Thirsty for 



By Michael Richardson 

\ lnterikith»wl HerM TritHiHe 

'SINGAPORE — A growing dependence by 
China on oil from [he Gulf is making Beijing 
reassess its support for radical regimes in the 
Middle East, and its stand on the disputed South 
China Sea areas through which the on is shipped, 
according to American officials and analysts. 

• Secretary of Defense William Cohen said this 
week that the sale by China of anti-ship cruise 
missiles to Iran could backfire if there was a new 
Gulf conflict because the use of such weapons 
fright impede the flow of oil — to China as well 
as to other parts of the world. 

! “In the long run. it contradicts China's self- 
interest." be said during a visit to the Gulf. 

; Shortly before starring his tour, Mr. Cohen 
said that China's reliance on oil imports, es- 
pecially from the Gulf, gave it a strong interest in 
regional stability, and. he added, “there are signs 
that Chinese officials increasingly recognize 
this.’’ 


Southeast Asian officials said Thursday that 
China had indicated in recent talks it would 
modify Its sovereignty claim over three-quarters 
of the South China Sea to help ensure freedom of 
navigation. 

The Chinese claims in the region focus on the 
Spratly Islands, which are also claimed in full or 
in part by Vietnam, Taiwan, Malaysia, the Phil- 
ippines and Brunei. 



month by 

a conference in Singapore on Asia-Pacific se- 
curity. 

• * With much at stake, no one in the region will 
want to raise a rumpus,' ' Chen Jian of the Foreign 
Ministry said. “We are quite optimistic that 
peace and stability in the region will be main- 
tained and freedom of navigation in the South 
China Sea will be ensured.” 

Ralph A. Cossa, executive director of the Pa- 
cific Forum CSIS. a Honolulu-based research 
institute, said China needed freedom of the seas to 


make sure it could reach its overseas markets. . 

“It is also becoming steadily more dependent 
on external sources of oil, and this increases the 
importance of freedom of navigation for 
Beijing.” he said. ‘ 

A study sponsored by -die U.S- Navy bn the 
issue was made public , in Washington some 
months ago. The study said military action by 
China against rivals in die Spratly dispute could 
make the South.China Sea virtually impassable 
by raising ship-insurance rates to prohibitive 
levels, and it could jeopardize more than $30 
billion annually of China’s trade with other coun- 
tries, including its oil imports from the Gulf. 

China became a net oil importer in 1993 as a 
result of lagging domestic oil production and 
rapid economic growth that increased its need for 
oil. Some Chinese officials estimate that imports 
will reach 50 million tons by 2000, up from an 
estimated 33 million tons in 1997, and will 
continue rising into the next centuiy. 

China’s dependence on oil from the Middle 
East, which has 65 percent of the world’s proven 


reserves, is expected to rise above 90 percent by - 
2005 from 60 percent this year, 

* ‘The volume- of oil passing eastward through 
the South China Sea is' likely to triple over the 
coming 15 years,” said li Guoxing, director of 
the Institute of International Strategy Studies in 
Shanghai “The economic and strategic impor- 
tance of the Sooth' China Sea has greatly in- 
creased.” 

But Mr. Ji and some other analysts worry that 
unless Asian and Pacific nations put a much 
higher priority on 'energy-security cooperation, . 
including sea-lane safety, there will be a regional 
arras race as countries strive to protect their 
interests. - 

Japan, South Korea and Taiwan have no oil 
reserves and are already heavily dependent on the 
Gulf for imports. ' 

“Energy-vulnerable neighbors worry about a 
Chinese giant ever more voracious for oil and 
now better armed and increasingly nationalist,” 
said Kent Colder, director of the program on 
U.S.-Japan relations at Princeton University. 


“A naval arras race among China, Japan and 
possibly South Korea, sparked by the changing 
oil equation, -is the greatest long-term security 


danger the region faces.” 
. While it 


its intentions. in Asia's contested seas 
remain in question, there is no concrete evidence 
so far That China will curb its weapons exports of 
recent years to militant Gulf countries such as 
Iran and Iraq.. 

■ China Looking to Russia for Gas 

China and Russia are. expected to sign an 
agreement this month on a raultibillion-aollar 
project that could exploit Siberian natural gas to 
meet China's gfowirig demand for energy. Reu- 
ters reported from Beijing, quoting Russian dip- 
lomats. • ■ 

' They described the long-awaited accord as a 
"framework agreement" that would be signed 
during a visit to Beijing by Prime Minister Viktor 
Chernomyrdin. 

“The specifics of the projectprobably will not 
be part or this agreement, 1 ' a Russian said. 


Confusion Shrouds the Quest 
To Bring Pol Pot to Justice 


By Seth Mydans 

:V»ii York Tinifs Service 


■ PHNOM PENH — If the Khmer Rouge 
leader Pol Pot is brought in from the jungle to 
■stand trial for the deaths of more than a null ion 
of his countrymen, Phat Kosal is ready for 
him. 

"If 3 tribunal is set up tomorrow, we are 
ready," Mr. Phat Kosal said, leafing through 
-the fragile pages of a 20-year-old file salvaged 
from Khmer Rouge archives. 

“We have the documents." he said, "and 
they speak for themselves." 

Mr. Phat Kosal is the assistant to the di- 
rector of the Documentation Center of Cam- 
bodia, where for two and a half years re- 
searchers have been collating and 
Computerizing hundreds of thousands of doc- 
uments compiled by the Khmer Rouge from 
;i975 to 1979. 

• Some of the documents here — including 
secret police files, private communications, 
personnel reports and the forced "confes- 
sions’* of thousands of people who were 
■tortured and killed — directly implicate Mr. 
Pol Pnt and some of his close aides, the 
center’s administrator. Ben Kieman, said. 

But although the material is ready and 
Cambodian officials have said they want to try 
Mr. Pol Pot. serious questions remain about 
whether a trial will ever be held. 

At the moment, even Mr. Pol Pot’s lo- 
cation is uncertain despite a clandestine 
Khmer Rouge radio broadcast Wednesday 


that said he had been caprured by former 
comrades. 

It is difficult to know whether gamesman- 
ship or incompetence lie behind a series of 
contradictory reports that have been issued by 
the fust prime minister. Prince Norodom 
Ranariddh, and his military aide. General 
Nhiek Bun Chhay. 

After having confirmed the radio broadcast 
Wednesday, General Nhiek Bun Chhay re- 
versed himself Thursday, claiming that he had 
said Mr. Pol Pot had been "surrounded" but 
had not "surrendered." But he originally 
spoke in the Khmer language, not in English, 
and used neither of these words. 

Later Thursday. Prince Ranariddh said 
General Nhiek Bun Chhay had told him a third 
version, saying the renegade guerrillas were 
* ‘ready to capture Pol Pot to deliver him to us 
in order for us to send him to the international 
tribunal" 

On Tuesday, Tho mas Hammarberg, the 
UN special representative for human rights in 
Cambodia, said both Prince Ranariddh and his 
co-prime minister. Hun Sen. had said they 
would ask the United Nations to help prepare 
for an international tribunal. 

But no such forum is in place, and the 
process of creating one involves difficult 
political and bureaucratic problems. 

The political and emotional hurdles here in 
Cambodia may be even higher. This wounded 
country has still not confronted its past, and its 
leaders may well have more to lose than to 
gain in any judicial proceeding. 



Japan Will Urge Russia 
To End Island Dispute 


Kanm 


Prime Minister Hashimoto and his wife, Kutniko, preparing to leave the 
airport in Tokyo oh Thursday for the G-7 summit meeting in Denver. 


Reuters 

TOKYO — Prime Minister 
Ryu taro Hashimoto of Japan said 
Thursday that .he would press 
President Boris Yeltsin of Russia 
to salve the countries' territorial 
dispute at the Group of Seven, 
summit meeting this week. 

“At my meeting with Pres- 
ident -Yeltsin, 1 intend to urge 
him to make utmost efforts to 
resolve the issue and secure a 
full-fledged peace,” Mr. Hashi- 
moto said at a news conference 
before his departure for Denver. 

The prime minister said he 
would also seek support from 
President Bill Clinton and other 
leaders of the Group of Seven 
industrialized nations for Japan's 
stance on the dispute, which has 
kept Tokyo and Moscow from 
signing a World War U peace 
treaty. 

Mr. Hashimoto said that Mr. 

. Clinton . had . assured him of 
American support on the issue 
when the two discussed whether 
to include Russia in the G-7 sum- 
mit talks. 

The three days of talks, which 
begin Friday, have been formally 
dubbed the "Summit of the 
Eight," because Mr. Yeltsin will 
join the leaders of Britain, 


Canada, France, Germany, Italy, 
Japan and the United States. 

Japan, whose initial strong re- 
sistance to Russia's joining the 
G-7 gatherings has given way to 
pragmatic acceptance of Mos- 
cow at the political talks, sep- 
. arated the territorial dispute from 
its bilateral economic relations 
with Russia. 

But Mr. Hashimoto voiced 
skepticism that Russia had any 
place at G-7 talks on financial 
and monetary issues, and Jap- 
anese newspapers have quoted 
him as being cool toward moves 
at Denver to promote Moscow’s 
membership in the World Trade 
Organization. 

The territorial dispute con- 
cerns the four Russian-con- 
trolled islands and isiet groups, 
called the Northern Territories 
by 'Japan and the Southern Kur- 
iles by Russia, that were seized 
by the Soviet Union in the clos- 
ing days of the war. 

- in a step toward making bi- 
lateral summit meetings regular, 
a Japanese Foreign Ministry of- 
ficial said. Mr. Hashimoto' was 
likely during his talks with Mr. 
Yeltsin to accept Moscow’s in- 
vitation to visit Russia later this 
year. 


BRIEFLY 


Mongolia Urged to Stay Course 

ULAAN BAATAR. Mongolia — Mongolia's depart- 
ing president. Punsalmaagiyn Ochirbai, urged Parliament 
in his farewell speech on Thursday to help the country 
stay on its path toward democracy and a market-driven 
economy. 

Mr. Ochirbat urged the People's Great Hural * ‘to direct 
all your talents and collective effort to continue decisively 
along the path that our country has chosen." 

Mr. Ochirbat. 55. lostabid for re-election last month on 
the ticket of the ruling Democratic Union Coalition. He 
was defeated by a former Communist, N. Bagabandi, 
chairman of the Mongolian People’s Revolutionary 
Party. Mr. Ochirbat had backed a drive to scrap central 
planning and adopt free-market reforms, but his program 
led to inflation and unemployment. f Reuters i 

Opposition Attacks Taleban 

ISLAMABAD. Pakistan — Opposition forces 
launched fresh attacks on the Taleban and its allies north 
of Kabul on Thursday, a Pakistan- based news agency 
reported. 

The Afghan Islamic Press said fighters loyal to the 
former government military chief. Ahmed Shah Masoud. 
had begun an offensive against Taleban positions on the 
outskirts* of Jabal os Siraj. about 70 kilometers (43 miles) 
north of Kabul. 

The two sides battled for at least two hours, but there 
w as no \\ ord on whether either side had gained ground in 
the town, which is on the main highway linking the 
Afghan capital with the north. (Reuters) 

Red Cross Seeks Korea Funds 

GENEVA — The International Federation of Red Cross 
and Red Crescent Societies appealed Thursday for 26 
million Swiss francs (SIS million) so it could increase its 
food aid to and start providing medical care in North 
Korea. 

The w orld’s largest humanitarian network presented the 
appeal at a meeting attended by officials from 15 member 
societies, including those of North and South Korea. 

Under its expanded relief operation, scheduled to begin 
in July, the Red Cross will quintuple its food aid program, 
now supplying rations to 1^9.000 flood victims, to cover 
7U0.n(lf) people. { Reuters i 

2 Die in Clashes in Pakistan 

K.ARACHl. Pakistan — At least two people were 
killed Thursday in Karachi, where shops were forced to 
remain closed for a third day after an attack on an ethnic 
party’s office, police said. 

The deaths raised the toll to more than 1 00 in ethnic and 
political violence in Karachi so far this year, f Reuters i 


‘Hotline’ Links 
Pakistani and 
Indian Leaders 

Ctnpthdbi Our Surf Firm Dopachrs 

NEW DELHI — In a sym- 
bolic gesture of goodwill, the 
prime ministers of India and 
Pakistan on Thursday spoke 
for the First time on a tele- 
phone “hotline” set up to 
help dispel mistrust between 
the two longtime foes. 

Prime Minister Inder Ku- 
mar Gujral of India and his 
Pakistani counterpart. Nawaz 
Sharif, held a brief conver- 
sation to initiate the direct line 
between their offices, and Mr. 
Gujral predicted that the link 
would help them "feel bet- 
ter.” 

Mr. Gujral and Mr. Sharif 
had agreed to set up the direct 
phone link when they met for 
the first time in the Maldives 
last month on the sidelines of 
a regional summit meeting. 

They were the highest level 
bilateral Talks between the 
two nations in four years. 

Mr. Gujral. who spoke a 
mixture of Urdu and English, 
told Mr. Sharif: "The good 
thing is that the foreign sec- 
retaries are talking. This tele- 
phone line is also established. 
We can often talk to each oth- 
er on the phone. We ‘11 feel 
better." 

Foreign Secretary Sham- 
shad Ahmed and his Indian 
counterpart. Salman Haider, 
were scheduled to begin talks 
Friday. The two senior dip- 
lomats met in New Delhi in 
March to restart bilateral ne- 
gotiations that had bogged 
down in 1994 in disagree- 
ment over Kashmir. 

The thaw in relations has 
suffered setbacks recently, 
with reports that India had 
deployed long-range Prithvi 
missiles on its border with 
Pakistan. India has denied the 
missiles are deployed with 
warheads. (Reuters. AP) 


No Party in Rangoon 

T he L» *i s •/. ih\l press 

RANGOON — Burmese 
military police prevented 100 
*iupporiers of the opposition 
leader Daw Aung San Suu 
K\i front visiting her Ran- 
goon home Thursday to cel- 
ebrate her 52nd hiriliday. 

But 20 of the dissident's 
relative* and aides were al- 
lowed into her compound for 
a quiet ceremony. She has 
been under limned house ar- 
rest sinLe September 1996. 
when the military blocked off 
her home to prevent a meeting 
of her political party and stop 
her from giving speeches to 
supporters. 


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INTERNATIONAL HERALD TRIBUNE. FRIDAY, JUNE 20, 1997 

EUROPE 


PAGE 7 


Hungary Turns Tables on Eager Western Sellers of Military Aircraft 


By Christine S polar 

Washington Pq& Sen-ice 

BUDAPEST — When President Bill 
Clinton vowed last summer to expand 
MATO, American aerospace leaders 
caught the next flight to Hungary, a 
former Eastern Bloc country in the 
midst of overhauling its aimed forces. 

Lockheed Martin Corp. and McDon- 
nell Douglas Corp. knew Hungary was 
in tbemaricet for about 30 fighter planes, 
part of a huge inventory of equipment 
that cash-strapped East European coun- 
tries most find a way to finance if they 
join Ac North Atlantic Treaty Orga- 
nization. 

But the contractors were stunned, 
when they landed in July, to learn that 
the Hungarians had found a way to 
balance a politically unpalatable ex- 
pense with an economic stimulus. 


. Almost a year earlier, the newly cap- 
ltalist coon try had initiated a program 
that required jet manufacturers seeking 
to make sales there to steer millions of 
dollars of investment into Hungary. 

U.S. aerospace executives estimat e 
mat those tough ground rules, unprece- 
dented for defense sales abroad, will 
bring a dizzying $3 billion in invest- 
ments into Hungary in 10 years, no 
matter who wins the bid. 

“We call their plan '‘innovative,* ” 
said Doug Miller, a vice president for 
U>ckheed Martin, which signed onto 
the program in January. Another in- 
dustry official said: “Whether you win 
the bid or not, you have to do business in 
Hungary. For the guys who lose, it’ll be 

With NATO on the verge of expand- 
ing into Eastern Europe, countries that 
aspire to join are coming to grips with 


how extensively their armed forces will 
have to be modernized and what that 
will cost. 

“We think NATO, and we think de- 
fense needs: you can’t separate them," 
said Lieutenant General Ferenc Vegh. 
chief of Hungary’s armed forces. 

Poland, the Czech Republic and Hun- 
gary, the three nations most likely to be 
accepted into NATO at its July $ sum- 
mit meeting in Madrid, are buying pr 
preparing to buy millions of dollars of 
radio equipment and three-dimensional 
radar systems. As modernization con- 
tinues in the next few years, all three 
will grapple with the cost of the most 
expensive item in a high-tech arsenal: 
fighter planes. 

By the end of 1998, defense analysts 
predict, more than one- third of the 
present military aircraft in Eastern 
Europe will be unable to fly. By 2005, if 


no new planes land in their arsenals, no 
country there will have an air force. 

Poland plans to replace 100 to 150 
planes. Hie Czech Republic is consid- 
ering 24 planes to salvage an air force 
that Defense Minister Miloslav Vy- 
boroy argues needs half of all ils equip- 
ment replaced. 

Add in Hungary’s 30, and the three 
nations emerge as an arms market of 
remarkable proportions. They could ac- 
count for $6 billion to $8 billion in 
business for planes alone. Spare parts 
and upgrade costs could spiral through 
the next century. 

But how to pay for these budget- 
breakers has been a bit of a mystery for 
countries whose defense budgets have 
yet to climb to the NATO recommen- 
dation of 3 percent of gross domestic 
product. For Hungary, the cost of 30 
new fighter planes, at as much as $900 


million, must come out of a government 
budget that in 1996 totaled only S16 
billion. 

This spring. Poland delayed its pur- 
chase decision for at least five years. 
The Czech Republic, caught in a fi- 
nancial downturn, also could decide to 
put plane purchases in a bolding panem 
until 2002. No-cost leasing offers, in- 
cluding one from the U.S. Navy for 
McDonnell Douglas F/A-ISs, may be 
the best bet. Czech officials said, to keep 
their air force aloft. 

“It’s all based on money; it depends 
on who comes up with the best concrete 
offer," said Pen- Necas, head of the 
Czech Parliament’s Defense Commit- 
tee. 

But it is Hungary, the government 
that pays the least for defense among 
NATO aspirants — it spends 1 .4 percent 
of its GDP on the miiitarv — that has 


Jospin Puts Job Measures on Hold 

Hb Tells Parliament of Need to Review France’s Finances 


By Joseph Fitchett 

International Herald Tribune 




PARIS — Prime Minister Lionel 
Jospin fold the French Parliament on 
Thursday that the new Socialist-led 
government was postponing action on 
its most contentious campaign pledges 
such as job-creation measures until it 
could review findings about the nation ’s 
finances, due in mid-July from an in- 
dependent audit. 

While his cautious tone on economic 
changes appeared designed to encourage 
hopes of French realism in other Euro- 
pean capitals and among international 
investors, Mr. Jospin also repeated his 
opposition to privatizations of key state- 
run businesses such as Air France and 
France Telecom, and to moves shifting 
pay-as-yoa-go retirement systems to 
market-based pension funds. 


Insisting that job creation was his 
government’s prune concern, he omit- 
ted any references to increased flex- 
ibility in the labor market and stressed 
the potential value of such measures as 
early retirement, job-sharing and a 
shorter work week at unchanged take- 
home pay. 

Referring only briefly to the Euro- 
pean single currency, the hottest in- 
ternational issue for france, particularly 
because of the tensions it has caused 
with Germany, Mr. Jospin said that 
France remained committed to the cur- 
rent timetable for the euro at the end of 
next year. But he avoided any mention 
of the criteria set for the currency, in- 
cluding a tighter cap on government 
spending. 

“We reaffirm our determination to 
achieve economic and monetary union 
at the deadline specified by the treaty,*’ 


Tories Pick Hague, a Foe 
Of Closer EU Integration 


By Warren Hoge 

New York Tones Service 


T "v 


LONDON — Britain's bedraggled 
Conservatives on Thursday chose as 
their new leader William Hague, 36. die 
most untested and inexperienced of the 
party's candidates for the post and a 
declared opponent of Britain’s further 
integretion into Europe. 

In ahaBbt of the 164 Tory members 
of Parliament, Mr. Hague, the former 
secretary for Wales, defeated Kenneth 
Clarke, 56, former chancellor of the 
Exchequer, 92 votes to 70, with one 
abstention and one spoiled ballot. 

The Tories thereby were entrusting 

suffered its worst electoral defeat since 
1832 to the youngest man to head the 
party since the 24-year-old William Pitt, 
known as Pitt the Younger, in 1783. 

The Labour Party, which won a ma- 
jority of 179 seats in the May 1 election, 
is led by Tony Blair, 44, Britain’s young- 
est prime xmnistier in this century. 

It was the third and final vote in the 
increasingly bitter contest, which began 
June 10 wrth five candidates vying to 
succeed former Prime Minister John 
Major as party leader and which saw 
soma startling aiiianrre and some deep- 
ening ideological fault lines within the 
party as the field narrowed. 

In naming Mr. Hague, the Tories 
were turning their backs on Mr. Clarke, 
the most outspoken advocate of holding 
open Britain's options in Europe, the 
party’s most accomplished debater and 
its most experienced politician as a 
former secretary for health, for edu- 
cation and science, for law enforcement 
as home secretary and for finance as 
chancellor of the Exchequer. 

On Thursday night, Mr. Clarke con- 
gratulated Mr. Hague on his victory and 
pledged his “unstinting and loyal sup- 
port” to the new party leader. 

Bat he turned down an offer of a 
“senior cabinet position,” saying be 
preferred to take a position on the back 
benches. 

Mr. Hague said he would dedicate 
himself to “healing” the divided party 
and said he looted forward to the day 
soon when “the words people associate 
with our party are fresh, clear, open and 

railed ,f . 

The -only" issue that Mr. Hague - 
brought forward in his campaign was 
opposition to any consideration of Bri- 
tain's joining- Europe’s planned mon- 
“ 1 anion- 

e was an issue that dogged the' 
Tories through the last of their 18 suc- 
cessive years in government and pro- 
duced the disarray that contributed to the 
size of their defeat. 

The subject has seized Conservatives 
in Parliament far more than it has the 
rank and file, who rate the issue only as 
their seventh or eighth concern in polit- 
ical atfimdepoHing- 
' Mr. Hague, who surged into the 
favored position unexpectedly at tire 
end of : the first canvas June 10, so- 
lidified his claim on the Euroskeptic 
right wing of the party in recent days by 
saying that mnry member of his s h ad o w 
cabinet would have to pledge opposition 
to joining a European monetary union. 
Thnreoay’s vote had been expected to 

be closer than it was, after the latest in a 

series of dramatic developments that 
occurred after Tuesday** second round 
of v n riHtf " 

" Mr-Oaike locked to have beaded off 
. the right-wing opposition to his election 
— at nw« point that campaign had bear 


called the “anyone but Ken” project — 
when he drew the backing of the leader 
of his ideological foes, John Redwood, 
after eliminating him from the race. 

Mr. Redwood. 45, the most dedicated 
and vocal enemy of any consideration of 
Britain ever participating in European 
monetary union, had felt himself be- 
trayed by his right-wing colleagues in 
an earlier round of horse-trading and got 
his revenge by announcing his support 
for Mr. Clarke. 

The party’s pasionaria, former Prime 
Minister Margaret Thatcher, had res- 
olutely resisted becoming Involved in 
tiie contest until provoked by the an- 
nouncement of the Clarke-Redwood 
ticket, which she denounced as “an 
incredible alliance of opposites which 
can only lead to further gnef.” She then 
announced her support for Mr. Hague. 

Mr. Hague is a relative newcomer to 
British politics; he served only two 
years in a relatively minor cabinet po- 
sition. But he is a more seasoned ob- 
server of public life than his age would 
suggest 

At the age of 15 in his South York- 
shire home, he busied himself reading 
parliamentary reports, learned to recite 
by heart recorded speeches of Winston 
Churchill and memorized the names and 
constituencies of all Tory members of 
Parliament 

He burst upon tire scene soon after 
when, as a 16-year-old, he took the 
podium at a Conservative Party con- 
ference and captivated the audience 
with a fiery call to aims in defense of 
Conservative principles. Film of that 
event shows Mrs. Thatcher be aming in 
the background as Mr. Hague delivered 
his zealous address. 

He ran unsuccessfully for Parliament 
in 1987 and then secured his present 
seat, from Richmond, Yorkshire, in 
1989. He became a junior minister for 

social security minister in 1993 and later 
a junior health minister. 

In 1995, Mr. Major invited him to 
take die Welsh secretary’s position that 
had been vacated by Mr. Redwood. 


Mr. Jospin said, citing it as pari of a 
common approach needed in Europe to 
spur economic growth. 

But, he said later in the speech, “you 
cannot share a currency without cre- 
ating economic solidarity.” a reference 
to the French argument that a future 
European currency needs to be managed 
with some flexibility to meet emergen- 
cies snch as Europe’s current burden of 
record joblessness in near-recession 
conditions. 

Hecklers interrupted Mr. Jospin 
when he said that France had obtained 
guarantees at the European Union sum- 
mit conference in Amsterdam that a 
European central bank would ‘ ‘not op- 
erate in apolitical vacuum.” Mr. Jospin 
shouted back that critics should direct 
their reproaches to President Jacques 
Chirac, who had committed France to 
the German- inspired Stability Pact call- 
ing for fines on any country that ran 
deficits exceeding the limits set by the 
future central bank. 

Mr. Jospin left the door ajar to com- 
ses about the future of Air France, 
ace Telecom and the major defense 
companies, saying that they needed to 
undergo changes enabling them to at- 
tract foreign partners and form inter- 
national ventures. 

But, be said, “in the absence of a 
justification based on the national in- 
terest, we are not favorable to the pri- 
vatization of this shared heritage that the 
big state enterprises represent, even in 
competitive sectors,” a phrase used to 
designate state-owned companies fa- 
cing international competition from 
private companies. 

That phrasing could fit partial de- 
nationalizations, with the French gov- 
ernment retaining a measure of control 
in some privatized companies. But that 
would probably deprive the government 
of the revenue it needs to cut deficits. 

Throughout his hourlong speech out- 
lining the government's legislative pro- 
gram, Mr. Jospin never offered any 
clear-cut explanation of how he inten- 
ded reconciling French hopes of qual- 
ifying for the euro and Lhe risks of 
disqualifying rises in the nation's def- 
icits if government spending increases. 





% $***&«*& 



Pl cur Vnd)/Acciicc Fnmr^te* 

Prime Minister Lionel Jospin outlining his policy Thursday before the 
National Assembly as Laurent Fabius, the assembly's president, looks on. 


A hint of economic realism emerged, 
in one of the few specifics in Mr. 
Jospin's speech: a 4 percent rise in the 
minimum wage. That figure was at the 
low end of the range of politically feas- 
ible possibilities. Booed by his Com- 
munist allies, Mr. Jospin defended his 
measure as the largest annual leap in 15 
years in the light of France’s current 1 
percent inflation rate. 

Economic analysts said that the in- 
crease could be absorbed by French in- 


economic changes, Mr. Jospin’s maiden 
speech as prime minister emphasized 
fast action on a range of measures de- 
signed to improve social justice in 
France, including greater freedom for 
the judiciary to investigate corruption 
and other cases with political ramifi- 
cations. more schools, better health pro- 
tection for the elderly and the poor, and 
a bigger local voice in halting major 
infrastructure projects. 

He also announced a change in im- 


dustry without losing its competitive edge migration laws to grant French nation- 
because productivity gains have outrun ality automatically to any child bom on 
the cost of the lowest-paid workers. French soil, a measure contested by the 
In contrast to his cautious tone on anti-immigrant, extreme right. 


Turkish President Starts Balancing Act 


By Stephen Kinzer 

New York Times Service 


ISTANBUL — With Turkey’s ex- 
periment in Islamic-led government 
now at an end. at least temporarily, the 
political spotlight shifted Thursday to 
the country’s canny elder statesman. 
President Suleyman DemireL 

Under the constitution. Mr. Demirel 
must choose a successor to the departing 
Islamist leader, Necmettin Erbakan, 
who resigned Wednesday after an on- 
slaught of pressure from the military, 
which asserted that he was leading fee 
country toward fundamentalism. 

Mr. Demirel’s choice will have pro- 
found effects on fee future of fee coun- 
try, and on Thursday he began meeting 
wife party leaders to weigh his options. 
The first to emerge from his official 
residence, Mesut Yihnaz of the center- 
right Motherland Party, said he had told 


the president that he was “ready to take 
on this responsibility.” 

Officially, Mr. Demirel ‘s role as 
president is largely ceremonial, and in 
theory his choice of a new prime min- 
ister feouldbe no choice at all. Tradition 
dictates- that he tap Mr. Yilmaz, who in 
fee- last election finished second to Mr. 
Erbakan. 

If Mr. Yibnaz should prove unable to 
form a government wife a parliamentary 
majority, fee job should then be offered 
to fee third-place finisher. Foreign Min- 
ister Tansu Ciller. 

Bat in fee highly charged climate of 
today’s Turkey, the dictates of tradition 
will probably not weigh too heavily ou 
Mr/ Demirel. Instead, he must balance 
the determination of Islamists, the 
power of various kingmakers and fee 
desire of fee military for a strictly sec- 
ular government. 

Senior army officers have signaled that 


they will be very unhappy wife any gov- 
ernment in winch Islamists participate. 
One of them told a columnist for the 
newspaper Milliyet that such a govern- 
ment would be “just like the last one," 
hinting that the military would pressure it 
just as relentlessly as it pressured Mr. 
Erbakan during his 1 1 months in office. 

All three of the country's major polit- 
ical figures are seen as having heavy 
liabilities. Mr. Erbakan is intolerable to 
fee military, Mrs. Ciller is weighed 
down by her collaboration with Mr. 
Erbakan and by allegations of corrup- 
tion, all of which she has denied, and 
Mr. Yilmaz is seen in many quarters as 
an ineffective leader. 

Some observers suggested that Mr. 
Demirel might choose someone other 
than fee obvious candidates, hoping to 
launch Turkish politics in a new di- 
rection. Others were certain feat Par- 
liament would never back an outsider. 


finesNcd the dilemma. With a history of 
entrepreneurship even under Commu- 
nist rule, it has come up with a pro- 
curement plan intended to generate jobs 
and lax revenue in advance. 

Under the Hungarian plan, contract- 
ors toil to get credit from the govern- 
ment for new or expanded businesses 
they foster in Hungary. The credit they 
get depends on where the new invest- 
ments go. 

If companies steer business, and jobs, 
into economically strapped regions, 
they get a high score compared with 
other firms competing lor defense con- 
tracts. 

But the contractor- have no idea how- 
many investment dollars they need to 
amass to be competitive. In the end, they 
say, it may be a toss-up whether their 
planes or ihe investments they line up 
clinch the deal. 

"It’s not a question of whether the F- 
16 or Gripen or Mirage is better," said 
Ferenc Gazdag. director of the Institute 
for Strategic "and Defense Studies, a 
think tank in Budapest, referring to U.S. 
and European warplanes. “It’s really 
what package can be arranged.'* 

In addition, no top Hungarian official 
has ruled oui the possibility that the 
country could decide to buy much 
cheaper used warplanes from the West, 
particularly from the U.S. military. 

Experienced international contract- 
ors cannot name another country that 
has driven such a hard bargain. As yet. 
Hungary has not issued any contract 
terms. Officials said contract compe- 
tition was likely to start late this year at 
the earliest. So" far. American contract- 
ors have yet to steer any specific in- 
vestments into Hungary. 

Hungarian authorities are coy about 
the booty so far. State records credit 
Sweden's Saab-Scania AB. which 
makes the Gripen combat jet with Brit- 
ish Aerospace, with $70 million of in- 
vestment in 1996, a year in which no 
other contractor had registered. 

But Saab, a conglomerate that also 
makes Electrolux refrigerators and Eric- 
sson mobile phones, claims far more. 
Press reports show that Saab, which 
recently moved a Hoover vacuum- 
cleaner factory from Italy to Hungary, 
believes it has directed more than S 100 
million of investment into Hungary. 

* ‘We feel like we’re fighting like’ hell, 
and we don’t even know if we have a 
customer,” said Torbjom Ed berg, the 
Hungary manager for Saab. 

By contrast. Poland and fee Czech 
Republic have yet to commit anything 
to paoer. The delay results partly from 
fee fact feat both countries are still 
working out how to rebuild their own 
aircraft industries, established under 
Communisr rule when economies were 
centrally controlled and defense de- 
cisions made in Moscow. 

“It’s like trying to wrap your arms 
around air in Poland and the Czech 
Republic,” an aerospace industry of- 
ficial said about sales possibilities there. 
“They’ve never had the experience be- 
fore, and it shows.” 

Specialists in Poland, strategically 
fee most important of the three coun- 
tries. said defense officials had been 
"measured” in their approach. Poland 
has between 300 and 350 planes in an air 
force that may need, under NATO’s 
umbrella, to have no more than 100. 

Hungary’s bargaining could position 
it as a negotiator in talks, now in an 
embryonic stage, to consolidate equip- 
ment needs in the region. 

Aerospace companies and some 
Western advisers have raised the pos- 
sibility of fee three nations forming a 
purchasing consortium. If the countries 
agree, the move could push down fee 
purchase price, which nuts between $24 
million and $30 million for a fighter, by 
at least 10 percent. 

Maintenance costs, including spare 
parts, also could drop. 

“The Hungarian economy, none of 
these economies, can pay for whole 
procure menu We simply don’t have the 
money,” Mr. Gazdag said. 

The Hungarian most keen to find the 
necessajy money has been Imre Mecs, 
head of fee Parliament’s Defense Com- 
mittee, who was approached in 1 993 by 
Saab about the need to upgrade the 
Hungarian Air Force. 

He said no. “I told them plainly that 
there was no way Hungary was going to 
buy planes,” said Mr. Mecs, a former 
political prisoner and a student protester 
during Hungary’s abortive 1956 upris- 
ing- 

“But they kept coming back, and 1 
started thinking: This might nor be just a 
plane purchase. This could an economic 
recovery program.” 


BRIEFLY 


contingent’s base after a Greek sentry had rebuffed his attempt to sell 
drugs, according to a press release from the force. 

In another indication of fee growing violence in fee run-up to 
elections on June 29, more than a dozen aimed men tried to rob 11 
foreign election observers on Wednesday in Gjirokastra, 145 ki- 
lometers south of Tirana. (AP) 

Bucharest Ready to Talk With Miners 

PETROS ANI. Romania — In an attempt to defuse a coal miners’ 
strike, the government said Thursday that it would send a negotiator to 
western Romania and develop a plan to restructure fee mines. 

The government has acknowledged that planned reforms would cost 
100.000 jobs and make many Romanians poorer before any im- 
d«v’7s^ion”orParUament*s lower house, the State Duma. Before proyement occurred. Miners baddeclared Thursday that they wouldgo 
SonSSw it Sdhave to win approval in the upper house, the to Bucharest iftte govern 

^^^WiSuDcil^and from PresidentBoris YehsinL^ ‘ (AP) theuto^a for better pay and workmgcondttions.andtheoptionof 

Multinational Troops Kill Albanian p 0f ^ R ecor d 

TIRANA Albania Soldiers wife the multinational force here _. f 

while others rescued international oi> Poland wil! hold its legislative elections on Sept. 21. Praicten 
^^“h^^b^toLe^by two aimed gangs, international Alexander Kwasniewski announced on national televtsion. (AFP) 

officials said Thursday. 


Moscow Bill Hits Religious Groups 

MOSCOW — Russian lawmakers have given their initial en- 
dorsement to a controversial bDl that, if passed, would sharply curtail 
the activities of many religious groups. . 

The tell, “On Erewlom of Conscience and Religious Associations, 
was drafted under the leadership of a Communist lawmaker. It is 
expected to come up for a final vote Friday. 

& underlines a special role of the Orthodox Church in Russian 
history and cnltnrc and pledges “respect” to Islam, Buddhism, 
Judaism and other “traditional” religions. Bat it wo uld im pose rigid 
limits on less popular religions and sects, requiring them to register 
with fee government before the end of 1998. 

The bill won an overwhelming preliminary endorsement at Wednes- 


It was the first time feat the multinational troops bad used deadly 
force since being deployed in Albania three mouths ago to help protect 

humanitarim-aid shipments, ' . . . , ... . 

The 23-year-old gunman, Gentjan Ferracaku, was shot and killed 
Wednesday in Elbafan, 35 kilometers (21 ruffes) west of Tirana. He 
had fired a volley of buffets at a sandbagged position on the Greek 


The number of foreigners living in Germany rose by 140,000 last 
year, nudging tbeir share of the population to 8.9 percent. (Ap) 

A British woman and her son, a minor, were arrested at Orly airport 
outside Paris after flying in from French Guyana with nearly 20 
kilograms (44 pounds) of cocaine, customs officials said. (AFP) 


SUMMER PARIS SPECIAL 


H O 


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PAGE 8 




FRIDAY, JUNE 20, 1997 




EDITORIALS/OPINION 


Ucralb 


rNTER NATIONAL 



PTBIISHEU UITIJ Tilt M» M)KK TIMKS AND THE \>V«HINGTO\ POST 


%).l?. unc Alternative Squads for 




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Vr i 

the Denver Tournament Lull v 1 




Too Afraid of Islam 


The resignation of Turkish Prime 
’ Minister Necmettin Erbakan stems 

• from a conflict, now bedeviling much 
„ of the Muslim world, over how much 

freedom to grant Islamic expression 
and Islamic political parties. In Tur- 
: key, the secular military pressured Mr. 

• Erbakan, who heads an Islamist party, 
' to crack down on displays of Islam, and 

has now forced his resignation. 

Many other nations, including Al- 
' geria, Tunisia and Egypt, ban some 
Islamic parties outright. Muslim na- 
1 tions are right to be wary of groups that 
might impose dictatorships if they 
' reached power. But such bans can end 
up creating repressive police states in 
' the name of prevent Lng them. They can 
also help radicalize Islamic move- 
ments that might otherwise play by 
democratic rules. 

Governments can blame themselves 
. for the rise of Islamic parties. In so- 
cieties intolerant of- dissent, the 
' mosque is often the only place where 


Yet the military, which has staged three 
coups since 1960, pressed Mr, Erbakan 
to shut down government-sponsored 
religious schools that have been open 
for years, and to crack down on re- 
ligious expression, such as the wearing 
of head scarves in government offices. 

Efforts to suppress Islamic move- 
ments are common. In 1995, Egypt 
arrested the most charismatic leaders 
of the Muslim Brotherhood, a popu- 
lar, relatively moderate group that 
condemns violence. The Tunisian 
government has arrested thousands 
of members and sympathizers of 
Nahdha, an Islamic parry that behaved 
democratically. 

The risk of banning moderate Is- 
lamic movements and expression is 
that such steps can end up radicalizing 
them. Like most political groups, Is- 
lamic organizations do not disappear 


when they are banned. They simply 
rum to methods other than politics. The 


people can speak freely and organize. 
In Turkey. Egypt and other nations. 


In Turkey. Egypt and other nations, 
Islamic movements appeal to non- 
fundamentalists disgusted with the 


corruption and inefficiency of tradi- 
tional parries. Governments often use 


tionaf parries. Governments often use 
bans to eliminate the opposition. 

There is reason to ban movements 
that use terrorism or seek to seize power 
so as to impose dictatorship. But many 
do not. The Islamic Action Front in 
Jordan, for example, competes in elec- 
tions. Turkey's Islamic party played by 
democratic rales. It won more than 21 
percent of the vote and governed in 
coalition with a secular party. 

There was little danger that Mr. 
Erbakan would make Turkey an Is- 
lamic nation, given formidable oppo- 
sition to that course in Turkish society. 


rum to methods other than politics. The 
crudest example is Algeria, where the 
government canceled elections in 1992 
rather than allow victory by an alliance 
of moderate and fundamentalist Islam- 
ic groups. The alliance was then out- 
lawed and its leaders jailed. Its radicals 
turned to terrorism, and the govern- 
ment responded in kind. The ensuing 
bloodbath has killed 60,000 people. 

No government should sit back 
while terror groups or those promising 
dictatorship seek to take power. It is 
not always evident when these dangers 
exist. It is clear, however, that gov- 
ernments in the Middle East and North 
Africa have often used this excuse to 
club the opposition. They should in- 
stead compete with Islamic parties by 
makin g their own administrations 
more competent and honest. 

— THE NEW YORK TIMES. 


Campaign Finance Follies 


The president’s people keep coming 
up with ways for him to look as if he is 
fighting earnestly for campaign fi- 
nance reform, when in fact what he is 
mainly doing is continuing to raise 
large amounts of precisely the kind of 
money the giving of which reform is 
supposed to prevent. 

The other day they had him turning 
to rhe Federal Election Commission, 
putative enforcer of the existing cam- 
paign finance laws, to outlaw the use of 
so-called soft money in presidential 
campaigns. No matter that no one ex- 
pects such a thing to happen because 
the commission is so notoriously 
weak. No matter, either, chat one of the 
reasons for its continuing weakness is 
that the president has failed to use his 
power of appointment to strengthen it, 
by naming energetic and reformist 
members to replace the inert majority 
whose terms have expired. 

The Republicans, of course, have 
made their own contribution to the 


in the direction of less regulation; the 
president would ask for more. It's the 
show that counts. 

That is true on the Hill as well, 
where the parries appear to be fighting 
toward their esuai draw. The Repub- 
licans want to investigate last year's 
fund-raising excesses on the part of the 
Clinton re-election campaign, about 
which they are indignant. But they 
don't want the investigation to spill 
over into a broad indictment of the 
underlying system of campaign fi- 
nance, toward which they are protec- 
tive. It's a hard line to walk, not least 
because the Republicans indulged in 
some excesses of their own. 

The investigation by Senator Fred 
Thompson's Governmental Affairs 
Committee seemed most promising 
early on. but it has become bogged 
down. Democrats seeking in part to 


E rotect the president are insisting that it 
e broadened in ways that the Re- 


commission's weakness by denying it 
funds to investigate precisely the ab- 


funds to investigate precisely the ab- 
uses from last year's campaign about 
which they, the Republicans, profess to 
be most indignant. 

But the White House folks, having 
exhausted what you might call the ad- 
ministrative remedy, are already onto 
another gimmick, anyway. They have 
let it be known that the administration 
may also appeal ro the Supreme Court 
— use an Ohio case to persuade the 
court to reverse itself on, ihe basic 
question of which aspects of campaign 
finance can be regulated and which are 
walled off from regulation by the First 
Amendment. Again, no matter that the 
court's recent decisions have all tended 


publican leadership and majority seem 
determined to resist Mr. Thompson is 
caught in the middle. 

The comparable House investiga- 
tion has an even greater burden to bear 
in the person of its chairman, Dan 
Burton, who turns out among other 
things, to have a questionable cam- 
paign finance history of his own. 

The reform bill which the president 
grandly asked Congress last winter to 
send him by July 4 seems meanwhile 
dead in the water. 

Both parties have managed to create 
the illusion of action and concern with- 
out the fact — and rhe fund-raising 
beat goes on. How much better can it 
get than that? 

— THE WASHINGTON POST 


Other Comment 


The Scandal in Cambodia embarrassment, the ’Cambodian 


In Cambodia these days it is once 
again becoming difficult to distinguish 
between the merely evil and the res- 
olutely genocidal. But Pol Pot has al- 
ways been something of a constant 
here, providing a grim yardstick 
against which only a Hitler or Stalin 
might also measure up. 

Thus the murder of his Former de- 
fense minister. Son Sen. along with 
Son Sen's family, was entirely in char- 
acter. According to Cambodian First 
Prime Minister Prince Ranariddh, the 
executions were carried out by Pol Pot 
just before he fled his last base near the 
Thai border, and cars were then driven 
over the bodies as a final indignity. 

This is but the latest manifestation of 
an intra-Khmer Rouge dispute about 
whether, the group should participate 
in what is called, with no sense of 


peace process. 

Though we shed few tears for Son 
Sen. who was more often than not on 
the other side of the sword, the killing 
of his children reminds us of the price 
paid by virtually everyone in Cam- 
bodian society for the Khmer Rouge. In 
his usual sordid way the killings are Pol 
Pot's way of demonstrating that lofty 
talk about ballot boxes cannot sub- 
stitute for victory on the battlefield. 

How ironic that the only ones cap- 
able of punishing the Khmer Rouge are 
themselves. We do not know whether 
Pol Pot is really on the ran, as the prince 
has suggested^ or if he is in fact dead. 
What we do know is that Cambodia’s 
scandal is not that Son Sen is dead. 
Rather, it is that, dead or alive, Pol Pot 
has managed to survive so long. 

— Fur Eastern Economic Review 
I Hong Kong). 


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W ASHINGTON — This Friday in 
Denver die Group of Seven ma- 


Y Y Denver the Group of Seven ma- 
jor industrial democracies, along with 
Russia, gather to discuss the global 
economy and any other issue they can 
rustle up to make their tired annual 
summit meeting seem relevant. 

The Group of Seven has to scrounge 
for a role toaay because as a group it no 
longer represents die most important 
powers shaping die world economy. I 
mean, would you look to Canada for 
economic advice? Hockey yes, but nor 
money. With that in mind, I offer my 
biennial listings of whom, you would 
invite to die meeting if you weren’t stuck 
with the United States, Germany. Japan, 
Italy, France, Canada and Britain. 

I. If you wanted to have a fascinating 
discussion about how the global eco- 
nomy really works — but with all the 
participants wearing bags over their 
heads — you would have the all-crim- 
inal G-7. After all, the lowering of 
borders and improvements in commu- 
nications and financial transfers have 
made the movement of illicit funds and 
drugs some 8 percent of the global 
economy. “Crime has become the 
global growth industry," says Louise 
Shelley, an American University ex- 
pert on global corruption. 


By Thomas L. Friedman 


A summit of the G-7- Most-Wanted 
would bring together representatives 
(and their lawyers) from the Russian- 
Ukrainian Mafia, die Chinese Triads, 
the Cali Cartel the Mexican drug Mafia, 
the Nigerian Mafia (any government 
official would do), the Italian Mafia and 


the Japanese Yakuza. Heading die meet- 
ing (for a small fee) would be a rep- 
resentative of the Swiss banks who bun- 
der all their money (for a small fee). 

D. A more legitimate gathering 
would be the All-in-the-FamUy G-7. 

It would discuss how some cyber- 
tribes', big billionaire families, now 
span the globe and are becoming as 
powerful as small countries. 

Around the table would be: the Wal- 
lenbergs of Sweden (S36 billion in 
Swedish companies alone), the Riadys 
of Indonesia (banking, real estate), 
Tata Sons Ltd. of India (80 companies, 
250,000 workers), the Toyodas of Ja- 
pan, Kim Woo Choong’s Daewoo 
Group from South Korea (S52 billion 
in annual revenues), Mexico's Carlos 
Slim and family (telecom and retail- 
ing), with Rupert Murdoch as chair- 
man. (No Americans in this group, but 


they all depend on the American mar- 
ket’and technology.) 

ID. If you insisted on inviting na- 
tions, you would have the United 
States, ’Germany. Japan and China, In 
addition, one chair would be shared by 
the world's three most dynamic re- 
gions; northern Italy, where entrepre- 
neurs and manufacturers have created 
the richest district in Europe; Ban- 
galore, India, the Silicon Valle} - of 
South Asia, and the Singapore-Malay- 
sia-Indonesia high-rech triangle. 

The sixth chair would go to the Neth- 
erlands, where a novel deal between 
industrialists and labor unions has 
found a way to maintain many Euro- 


banking and the-Imernet it will play a 


role in virtually every human inter- 
action: Cisco Systems, which makes 


action: Cisco Systems, which makes 
the black boxes that tie the Internet 
together, and the more foe Internet ex- 
pands rhe more will Cisco: Citic, foe 
state-owned Chinese trading company 
that has its finger in every piece of 
China's development, from airlines to 
telecom: and Unocal the oil company 
whose foreign policy counts for for 
more in Afghanistan, Central Asia and 
Burma than the Stare Department's. 

This group would include an an- 


onymous 23-year-old currency trader, 
wlib would sit at the summit table trad- 
ing on a computer screen, sever saying 
a word to anyone else. He would rep. 
resent foe banal and anonymous dis- 
ciplinary force of the global market, 
and he 'would short the currency or 
stock of anyone at the table who says 
anything bad about Alan Greenspan.' 

'He would have to share his chair with 
a French truck driver, who would speak 
fur all those workers who feel squeezed 
by globalization. The French trucker 
would insist that the summit's sessions 
last only 90 minutes a day. u iih three 
hours off for lunch, and with all three 
days counting toward his pension. 


pean-style social benefits while doing 
u.S.-style downsizing, privatizing and 
loosening up of labor rules. It has given 


loosening up of labor ru les. it nos given 
the Dutch raster growth than Britain. 
France and Germany, with only 6.5 
percent unemployment. 

The last seat would go to Chile, whose 
strong economy is a Dutch-like growth 
model for developing countries. 

IV. If you wanted foe rising eco- 
nomic powers you would invite Intel, 
whose chips are to foe posiindustrial 
revolution what coal was to rhe in- 
dustrial revolution; Microsoft, because 
once it is done linkin g software, media. 


The \»ii Yuri Tunes 


Russia: Cut Out the Whining and Keep the Nuclear Promises 


P ARIS — Boris Yeltsin has 
bounced effectively back, 
so remarkably recovered from 
his grave heart operation that 
presidential speculation in 
Moscow now is about foe next 
election, four years away. He 
flies to Denver to show that he 
represents a major power, fully 
accepted at the summit of what 
used to be the Group of Seven 
top industrial stales. 

But foe atmosphere in Russia 
remains poisonous, and foe re- 
forms urgently needed to get the 
economy seriously launched on 
foe way to recovery are still 


By Flora Lewis 


uncertain. Western experts say 
foe almost steady decline since 


foe almost steady decline since 
1991 seems to have bottomed 
oul But salaries and pensions 
still are not paid, and the new * 
rich are not investing but send- 
ing their spoils abroad. 

Despite the special “ found- 
ing act "agreement with NATO 
recently signed in Paris and 
hailed by Mr. Yeltsin as foe best 
deal available, Russian officials 
continue to pour out fore warn- 
ings about how NATO’s 
planned enlargement will pro- 
mote foe rabidly nationalist, 
anti-Semitic opposition. They 


make ir sound as if NATO were 
to blame for foe ugliness arising 
from foe country's historic mal- 
adies and its current despair. 

This is offensive. Talk about 
a “new Versailles." which 
would launch foe country on foe 
vengefuL destructive path that 
Germany took after the punitive 
treaty imposed by the victors of 
World War L is outrageous. Far 
from seeking to humiliate the 
heirs of the Soviet Union, which 
was not defeated but collapsed 
of its own excesses and inca- 
pacities, foe West has supported 
its efforts at transformation. 

There has been no thought of 
any kind of reparations. On foe 
contrary, there has been sub- 
stantial aid — not as much as 
Russians anticipated, and not 
always wisely advised, but gen- 
erous nonetheless after the bit- 
ter and dangerous Cold War. 

Incitement of hatred, even 
talk of reopening foe gulags 
to lock up ‘ “ traitors and Jews,” 
has appeared in some of foe 
press and in demagogic 
speeches. These are Russia's 
problems. They have nothing to 


do with what the West has or has 
not done. And foe intelligentsia 
isn't doing much to combat 
them, although the liberals and 
democrats would surely be the 
first victims if indeed the rad- 
icals gained power. 

Fortunately, according to 
Moscow reports, most people 
are too preoccupied with the 
troubles of everyday living to 
pay much attention to foe rabble- 
rousers. It is not to foe credit of 
the reformers to use this scape- 
goat propaganda as a threat to 
extract concessions from foe 
West at the expense of Russia's 
neighbors and former satellites. 

It remains to be seen whether 
Mr. Yeltsin will submit the 
NATO agreement to his antag- 
onistic Parliament for endorse- 
ment. He would like to, Moscow 
observers say, to support his 
contention that it is “ politically 
binding" although not a formal 
treaty, and to share foe respon- 
sibility if it does come up as a 
campaign issue in future elec- 
tions. Buthe is expected to count 
noses carefully, so as not to ran 
the risk of a legislative defeat. 


Similar political tactics seem 
to be standing in foe way of 
submitting the START-2 treaty, 
which is not even currently un- 
der Duma consideration. This 
treaty, which would reduce nu- 
clear missiles in U.$. and Rus- 
sian arsenals to some 6.000 
each, was signed in January 
1993, and finally ratified by the 
U.S. Senate last year. 

Washington's delay was im- 
posed by Senator Jesse Helms, 
foe fractious chairman of the 
Foreign Relations Committee, as 
a hostage in his drive to force 
State Department reorganiza- 
tion. If foe treaty is lost because 
of foe way Russian politics have 
evolved after so many years, he 
will deserve much of the blame. 

But it is critical to push ahead 
and get on with START-3 talks, 
to pledge further cuts to 2,000 
or so missiles on each side and 
foe start of the real release of the 
world from foe danger of nu- 
clear holocaust. 

President Yeltsin has prom- 
ised President Bill Clinton to 
push for START-2 ratification, 
but he isn't doing anything. He 
should be reminded of his ob- 
ligation to honor his commit- 


ment at the Denver meeting 
Russia has responsibilities as 
well as needs. 

The United States is spend- 
ing several billion dollars a year 
maintaining missiles that it 
would dismantle if Russia did 
the same, and Moscow is even 
much less able to afford foe 
drain. NATO enlargement is a 
miserable excuse for failure to 
move on a disarmament mea- 
sure that is also very much in 
Russia's interest: to use it 


would be self-injuring spite. 
There is rightly much We 


There is rightly much West- 
ern sympathy for foe Russians 
in their miseries of trying to 
emerge from a long series of 
historical disasters, some self- 
imposed and some not. And the 
West has an enormous stake in 
seeing them succeed in becom- 
ing a healthy democratic power 
with a good standard of living 
and the capacity* to be partner in 
o peaceful world. 

Mr. Yeltsin’s personal story 
has been almost miraculous. As 
they welcome him in Denver, foe 
Western powers should make 
dear that they wish him well. 
But he must keep his word. 

<£' Flora Lc* is 


Japan: So, How Much Military Cooperation With America? 


XT QG ATA, Japan — The re- 
IN cemiy issued interim re- 
port on the review of guidelines 
for defense cooperation be- 
tween foe United States and Ja- 


By Andrew Mack 


f an may presage ,a higher pro- 
ile for foe Japanese military in 


not go in until the shooting had 
stopped. Some American com- 
mentators fumed that U.S. 
forces had become mercenaries 


ican withdrawal from Somalia 
and foe reluctance to become 
militarily involved in Bosnia 
and Rwanda indicated, the 


file for the Japanese military in 
regional security. The proposed 
guidelines have been bitterly 
denounced by North Korea bot 
cautiously welcomed by foe 
South. China has been critical, 
but not stridently. 

The guidelines will not be 
finalized until foe fall. They 
seek to bring greater operation- 
al coherence to foe U.S.-Jap- 
anese alliance and pave foe way 
for the Japanese military to play 
a stronger supporting role when 
U.S. forces are engaged but Ja- 
pan is not under direct attack. 

Almost everyone agrees that 
new thinking is needed. 

In foe Guff War, after a dif- 
ficult internal debate, Japan 
agreed to pay S13 billion of foe 
U.S.-led coalition's costs and to 
provide minesweeping assist- 
ance. But foe minesweepers did 


United States is an increasingly 
casualty-sensitive country. The 


while Japan did nothing. 

The reasons for Japan's fail- 
ure to send fighting forces were 
well enough understood in 
Washington. Japan's peace 
constitution bars it from par- 
ticipating in collective security 
operations; trying to revise foe 
constitution would have taken 
years, and there was no guar- 
antee that foe would-be revi- 
sionists would prevail. 

But what if foe United States 
were drawn into a conflict on 
foe Korean Peninsula? If Tokyo 
refused to provide active as- 
sistance. American public sup- 
port for foe U.S.-Japanese al- 
liance could plummet as the 
U.S. death toll rose. 

That is not foe only reason for 
concern. As the hurried Amer- 


casualty-sensitive country. The 
horror of war is relayed instant- 
aneously into living rooms 
across America. Washington is 
less and less willing to have 
Americans die in foreign con- 
flicts unless a clear and vital 
national interest is at stake. 

Isolationists in America argue 
that with foe Cold War over there 
is no reason for Washington to 
risk American lives and treasure 
to defend rich Japanese who re- 
fuse to defend the United States 
in return and can easily afford to 
defend themselves. 

Such a case has almost no 
support in the Clinton admin- 
istration, and popular isolation- 
ist sentiment has ebbed as foe 
American economy has re- 
covered. But many American 
and Japanese security planners 


are concerned that it could re- 
turn with a vengeance if a re- 
gional war erupted in East Asia 
and Japan sat on its hands while 
Americans died. 

The interim report on the de- 
fense cooperation guidelines 
seeks to address some of these 
concerns. la future, if foe United 
States is fighting "in areas sur- 
rounding Japan," the Japanese 
military will provide active as- 
sistance, except where acrual 
combat operations are being 
conducted. The assistance may 
include minesweeping, air and 
naval surveillance, intelligence 
gathering and enforcement of 
sanctions by stopping and in- 
specting ships on the high seas. 


This is a sharp departure 
ora foe current guidelines. 


All Right, Let’s Have Our Talk 


W ASHINGTON — Ed- 
win Dorn has rescued 


VY win Dorn has rescued 
me. temporarily at least, from 
my skepticism,' and I am pre- 
pared to accept that President 
Bill Clinton’s call for a dia- 
logue on race just might do 
some good. 

Mr. Dom is undersecretary 
of defense for personnel and 
readiness, a Ph.D. from Yale 
and the next dean of foe Lyn- 
don B. Johnson School of 
Public Affairs at foe Uni- 
versity of Texas. More rel- 
evant to my call to bim, he's 
very smart. 

He acknowledged at foe out- 
set that foe president's idea 
won’t be easy to carry out 


By William Raspberry 


"Having a good conversation 
about something important is 


about something important is 
one of the hardest things people 
do," he said. “It's so difficult 
to get people to understand the 
distinction between the sort of 
thoughtful conversation the 
president has in mind and the 
mindless rhetoric that too often 
passes for thought." 

Mr. Dom sees two neces- 
sary components for a useful 
conversation: It must be about 
the future, and not about foe 
present or the past, and it must 
be “in color, not just black 
and white." 


“Perhaps foe best way to 
avoid foe rancor and postur- 
ing," he believes, “is to focus 
foe conversation on where we 
want to be as a nation — not 
who is suffering or who’s at 
fault, but what this society 
should look like 20 or 50 years 
from now.” 

In fact, that may be foe only 
way to move foe conversation 
on affirmative action beyond 
foe present locked-homs im- 
passe. Once we reach some 
consensus on what sort of 
America we would like to 
share, we might be able to work 
back to the current issues. 

As for the need to push foe 
conversation beyond black 
and white: "We’ll have to 
take note of the huge demo- 
graphic changes that have oc- 
curred and will continue to 
occur in this country, and ac- 
knowledge that many of our 
arguments about civil rights 
have been almost exclusively 
about black and white. 

“True, this is our defining 
relationship, but, projecting 
into the future, we must take 
into account the aspirations 
of fourth-generation Chinese- 


Americans and first- or 
second-generation Pakistan i- 
Americans. That produces a 
much richer, much more com- 
plex dialogue. Nobody’s 
figured out how to do it yet, 
but that doesn't mean it's not 
possible — or necessary. " 

How do you get such a com- 
plex conversation under way? 
One key. Mr. Dora believes, 
is to make 'sure the right 
people are involved. “Com- 
munity groups, foundations, 
educational institutions and 
churches throughout the coun- 
try need to use foe president’s 
leadership as a kind of jump- 
ing-off point. 

"You know, we did a lor of 
this in foe '60s, when the Na- 
tional Council of Churches 
and others tried to lead us in 
understanding racial issues. 
That needs to happen again. 

_ "People Ida those at the 
Kettering Foundation have 
mastered foe art of public con- 
versation. Jim Fishkin at the 
University of Texas is expert 
at teasing out what people are 
thinking when they really are 
thinking — as opposed to pub- 
lic opinion polls that mostly 
tell you wnat people think 
when they're not thinking.” 

The Washington Post 


from foe current guidelines, 
drawn up in 1978 mainly with 
foe Threat of a Soviet attack on 
Japan in mind. 

Some analysts have argued 
that in an armed conflict. Jap- 
anese minesweeping and high 
seas naval inspections to check 
compliance with sanctions 
could well be seen as a cause for 
war by -an adversary, especially 
one like North Korea. 

The proposed new guidelines 
are littered with escape clauses 
that can be invoked if providing 
active support for foe United 
States appears to be too difficult 
politically. 

Most important of all, "Japan 
will conduct all its operations 
within foe limitations of its con- 


stitution." Since there is much 
controversy over what exactly 
foe constitutional limits on foe 
use of military force are. this 
clause leaves a wide area of un- 
certainly. If a crisis erupted to- 
morrow, Japan's reaction could 
be determined less by foe con- 
stitution or foe new guidelines 
than by bitter political fights 
over their proper interpretation. 
Such squabbles could well last 
longer than foe war. 

A major difficulty for foe 
government of Prime Minister 
Ryutaro Hashimoto is that foe 
Social Democratic Party, one of 
foe partners in the coalition led 
by foe Liberal Democratic 
Party, is much more closely as- 
sociated with those who oppose 
amending the peace constitu- 
tion than with the would-be re- 
visionists. A major debare and 
vote on the issue' could split the 
coalition and bring down rhe 


govern menL 

Yet something needs to be 
done. The fact that, after decades 
together as allies, the United 
States and Japan still have no 
clearly defined and agreed rules 
of military cooperation in a 
crisis is nor just bizarre. It could 
be seriously destabilizing in a 
real-life conflict. 


The writer, a visiting profes- 
sor at Ihe International Uni- 
versity of Japan, contributed 
this comment to rhe Interna- 
tional Herald Tribune. 


IN OUR R4GES: 100, 75 AND 50 YEARS AGO 


1897: ‘Traitors’ Held 


BERLIN — According to in- 
telligence from St. Petersburg, 
published by foe Lokalanzeiger. 
a whole series of arrests "has 
been made, these including 
some persons in high positions 
and several women. All the 
prisoners are now being ex- 
amined at foe Fortress of St. 
Peter and St. Paul on a charge of 
haying sold mobilization plans 
to Austria. The daughter of a 
certain general is stated to be 
specially compromised in the 
affair. The accused, it is stated, 
sold their information for a few 
hundred roubles. 


following the last attempts, 
have succeeded in getting to 
within a few hundred feet of foe 
top. The weather conditions are 
reported to have been terrible, 
and the men suffered greatly. It 
is stated that Morshead, in the 
earlier attempt to reach the 
summit. lost several fingers 
from frost-bite. 


1947; Romantic Killer 


1922: Tackling Everest 




LONDON — Dispatches report 
a further magnificent attempt to 
reach the summit of Mount 
Everest by members of the ex- 
pedition led - by the Brigadier- 
General Bruce. Messrs. Mal- 
lory, Wakefield and Somervell, 


PARIS — Still pretty and sen- 
timental at fifty-four. Marceline 
Gronnier was sentenced to sev- 
en years in prison for killing 
Emile Froment. nineteen yean 
old. “foe one being" whom she 
loved "above every - one else fo 
the world.” The shooting oc- 
curred in the law courts last year, 
when Marceline Gronnier was 
confronted with Froment, whom 
she had accused of robbing her 
of 10.000,000 francs worth of 
gold. "I loved him more than 
my life,” she said. "Forfoegolu 
I didn’t care one jot.” 


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In Israel, Two Comedians 
And No Laughing Matter 


INTERNATI ONAL HERALD TRIBUNE, FRIDAY. JUNE 20, 1997 

OPINION /LETTERS 


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PAGE 9 






JERUSALEM — Israelis hoping 




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_ to find comic relief from the 
political and social problems that 
buffet them daily have been served 
; instead with whopping portions of 
! angst in recent days by one of the 

• nation's leading comedians and by 
a former comedian. 

i Yeboshua (Shaikeh) Levy; 

• whose skits over the past 30 years 
. have made him one of the most 
; beloved personalities in the ebun- 
! tty, told an interviewer last week 

• that he was in despair at the di- 
! recti on Israel was taking and was 

■ contemplating emigration. 

Uri Zohar, who was Israel’s 

• leading comedian until ‘'seeing 
; the light" 20 years ago and be- 

coming ultraorthodox — acquir- 

• ing the title of rabbi as well as a 
! beard and dark suit — returned to 
- the television screen last week as a 
i comic host, still in rabbinical 

garb. But many secular viewers 
. regarded him unsmilingly as a 

• missionary in disguise. 

; Mr. Levy is the central figure in 
. a three-man comedy team known 
‘ as Hagasbash Hahiver — The 
Pale Scout — which has been 
entertaining Israelis since the 
i 960s. During an interview with a 
newspaperman who wanted to 
know about his recent heart by- 
pass operation and his role as 
chairman of the Israel Performing 
Artists Association, the 56-year- 
old entertainer took the occasion 
. to speak seriously about the na- 
tional mood and his own since the 
. assassination of Prime Minister 

• Yitzhak Rabin two years ago. 

He lashed out principally at the 

• growing influence and aggres- 
siveness of the ultraorthodox 
community, which is seeking to 

. force through religious legislation 

■ in the Knesset. But he also ex- 
pressed distaste for Prime Min- 

. is ter Benjamin Netanyahu and his 
political direction. 

“TTiis is not the same country 
since Rabin's murder/’ he said. 
“Look at what’s happening with 

• the religious, to tolerance, to the 
. peace negotiations. I'm at a loss. 

• People who think very differently 
from me are running the country 
and I can’t do anything about it. 
Few the first time. in my life I’m 
thinking of perhaps emigrating, 
going somewhere that I don’t care 

. so much about. Then what happens 

• here wouldn't hurt as much/' 

He added: “With Rabin there 
was a feeling that you were on a 


By Abra h a m Rabinovich 

IS 


Mth with a light at the end. The 
tght's gone out.” 

For many in Israel, Uri Zohar is 
a manifestation of the religious 
threat that Mr. Levy warned about. 
A hilarious siand-iip comic and a 
movie actor as a young man, Mr. 
Zohar was for years the leading 
symbol of Tel Aviv's bohemian 
scene. Israel was stunned 20 years 
ago when he adopted the black 
garb and lifestyle of an ultraonho- 
dox Jew and moved to Jerusalem 
to study Jewish law and become a 
rabbi. In recent months he ap- 
peared twice on television, once to 
be interviewed and once to host a 
quasi-religious program. Both ap- 
pearances were heavily tinged 
with missionary zeal. 

Many were put off by his heavy- 
handedness. but 'Mordechai 
Kirschenbaum. the director-gen- 
eral of the state-owned Israel 
Broadcasting Coip. who knew him 
in his bohemian days, thought he 
detected the spark of the old Zohar. 
He invited him to host a series of 
weekly talk shows on condition 
they be free of proselytizing. 

After deliberating. Mr. "Zohar 
accepted. Ir was not a simple de- 
cision since in the ultraorthodox 
community, television is regarded 
as almost the devil's work. Why 
then did he accept? 

“Uri is very disturbed by the 
split in the nation between the 
ulnareligious and the secular/' 
said the show's producer, Ye- 
hoshua Ben-Porat, who is 'himself 
religious. “It's important to bring 
him to television in order to help 
bring the two sides closer.” 

Mr. Zohar asked that his salary 
be given to charity. Mr. Ben-Porat 
said. 

At the end of opening night, Mr. 
Kirschenbaum remained in his seat 
long after the audience had left. 
“The man 's still a mystery to me." 
be said. "I’m not sure he himself 
knows why he's doing it/’ 

To the television critic Yuval 
Katar, commenting in the Yedioth 
Ahronoth newspaper, there was no 
mystery at all. “The motivation 
was totally missionary.” he wrote. 
“To have this program on a serious 
television channel is a scandal.” 

Two comedians, but not much 
to laugh at 

The writer, a reporter with The 
Jerusalem Post, contributed this 
comment to the International Her- 
ald Tribune. 



Iris i, Asparagus , Peach: 
Planting for the Future 


Bv Ellen Goodman 


Erbakan s Baby Sitter 


LETTERS TO THE EDITOR 


NATO Has Failed 

NATO's sole reason for exist- 
ing is to protect the people of 
Europe from aggressors. The 
worst aggression to which we in 
Europe have been subjected since 
1 945 has been that perperrated by 
war criminals in the Balkans. 

Yet while NATO expends its 
energies expanding to protect an 
even larger population from pos- 
tulated but highly improbable 
threats in the dim and distant fu- 
ture. it ignores the continuing threat 
in the Balkans from people who are 
in the same class as Adolf Hitler. 

If the North Atlantic Treaty Or- 
ganization is scared of a couple 
hundred Serbian troops, what 
hope is there of its doing anything 
about a major army taking pan in 
a massive attack? " 

NATO has clearly failed in its 
mission, and. there musr be more 
worthy causes on which to spend 
its budget. 

NORMAN SANDERS. 

Ipswich. England. 

Like China, Like Cuba 

. I agree with Secretary of Stale 
Madeleine Albright's arguments 


in favor of trade with China f " The 
Policy Is to Ent ourage China to 
Cooperate." Opinion. June H i. 

I was struck by bow the same 
reasoning would support lifting 
the U.S. embargo against Cuba. 
This would be the best arm against 
Fidel Castro's propaganda, which 
lays all blame for Cuba's misery 
on the embargo. 

The “long-term liberalizing ef- 
fects of expanded commerce” — 
whether in China or in Cuba — 
would indeed be welcomed by 
human rights activists every- 
where. 

J. A. RUIZ BAUDRIHAYE. 

Madrid. 

On Apologizing 

L> it possible that President Bill 
Clinton's idea of a national apo- 
logy to blacks for slavety was 
borrowed from Tony Blair, who 
recently apologized to the Irish for 
England's responsibility for the 
porato.famine? 

Mr. Clinton could even go fur- 
ther and apologize to the few re- 
maining American Indians for the 
extermination of their race. 

JOAQUIN GODOY. 

Bath, England. 


I should like to know on behalf 
of whom exactly Bill Clinton pro- 
poses to apologize for slavery. 

I myself, like the majority 
of Americans today, am de- 
scended from immigrants who 
arrived after the turn of the 
20th century and therefore 
have nothing io do with the treat- 
ment of blacks on the planta- 
tions — or of Indians on the 
plains, for that maner. 

And how were the whites more 
guilty than the African warriors 
who raided neighboring villages 
to sell their enemies to "the Euro- 
peans? 

ERIK SVANE 
Paris. 


Grow Up! 


Amending the U.S. Consti- 
tution to outlaw flag-burning 
would not only impinge on free 
speech, it would be counter- 
productive. turning every flag- 
burner into an instant celebrity 
martyr, with all the attendant pub- 
licity. 

Why can't we Americans grow 
up? 

ADDISON VOUGHT. 

Berlin. 


C ASCO BAY. Maine — The 
lady’s slippers have finally 
appeared, elegant as ever and 
overdressed for the occasion. 
Their pink finery is on display 
between the buff of the dirt road 
and the gray of the stone walls that 
once separated seaside farmers 
from their neighbors. 

They have arrived late, but then 
everything is late this year. We say 

MEANWHILE 

that to each other as if the weather 
were a schoolchild who failed ro 
respond to the teacher's bell. Only 
now are the flowers rushing to 
their seats, tumbling into bloom, 
one after another. Today, we are 
feasting on lilacs and lupin. Irises 
and peonies await only a permis- 
sion slip from the thermometer. 

All across the island, a few spe- 
cies of flowers are repeated with 
rhe frequency of a quilting pattern. 
A single strain of iris, one clan of 
lupin dominate the landscape the 
way the name Hamilton dominates 
the headstones in the cemetery. 

On my morning walk. I wonder 
whether’ some 19th-century ped- 
dler rowed over here with a dory 
Full of blue iris bulbs — one vari- 
ety suits all. Or did the islanders of 
old. like the islanders of today, 
pass along lupin pods and trans- 
plant the "indestructible day lilies 
from one parent patch? 

I am a novice as a naturalist. 
Before coming here. 1 lived on the 
land as lightly as a houseplant. 

From time to time, while my 
daughter was growing up. 1 
thought about planting asparagus 
and Immediately dismissed this 
three-year project. I spent a whole 
decade believing that three years 
was too long to wait. 

But four years ago, we dug deep 
into this ground and planted the 
gnarled and nigged asparagus 
whose spears we will eat tonight. 
Is this what they mean by putting 
down roots? 

It may be a reverse of normal 
logic, but the older 1 get the more 1 
plant ahead. At 30 it was all an- 
nuals. At 40. it was perennials. Last 
year we planted an apple tree that 
now comes up to my shoulders. 
This year, in a fit of Maine hubris, 
we planted a peach tree that may 
not deliver until the 21st cenAuy. 

And just this morning, standing 
by the chestnut tree, worrying 
again about this centenarian that 


looms and creaks over our house, 
I started to choose the site for a 
replacement. I must find room for 
its enormous size though even the 
most optimistic actuary tells me I 
won’t see an infant chestnut in its 
towering maturity. 

What was the joke George 
Bums used to tell audiences near 
the end of his life? “At my age. 1 
don’t buy green bananas.” 

We Americans are told that we 
live in the “now” and have trou- 
ble thinking beyond our life span. 
We don’t landscape any further 
ahead than our lease or our job. We 
choose fast-food trees as weedy as 
an ailanthus and roll out instant 
lawns for instant gratification. As 
our country ages, we are also told, 
«e care less about the next gen- 
eration of other people's children, 
other people's social security , oth- 
er people's environment. 

But I wonder if that is true. It 
seems to me that as more of us pass 
the half-century mark, as more of 
us see 50 years' back, it's easier to 
see 50 years ahead. As our private 
future shrinks, the comprehension 
of the future expands. 

Maybe it is easier in a limited 
and known place to be aware of 
the land's past and future. To see 
ourselves as the caretakers of a 
small and vulnerable cache of 
lady's slippers, to feel the link to 
those people — perhaps the 
grandparents of neighbors — who 
planted the stand of irises on our 
land. Maybe it's easy to take some 
special delight in reclaiming a 
rhubarb patch left behind by a 
farmer whose name may be on the 
deed. But surely by mictlife. most 
of us have inherited some grat- 
itude to the past and responsibility 
to the future. 

A hundred years ago, someone 
planted this chestnut tree in front 
of my porch. 1 don’t know who or 
why. This year. I’ll plant one for 
the next hundred years. 1 make my 
living stringing words together 
across a page, but this is my job. 

Tlw Boston Cloht • 


Letters intended jar publica- 
tion should be addressed “ Letters 
to the Editor “ and contain the 
writers signature, name and full 
address- Letters should he brief 
and are subject to editing. H r can- 
not be responsible fur the return of 
unsolicited manuscripts. 


BOOKS 


’ll I inn Willi America! 


THE PROUD HIGHWAY: 

Saga of a Desperate Southern 
Gentleman 

By Hunter S. Thompson. Edited by 
Dougfas Brinkley. 683 pages. $29.95. 
Villard. 

Reviewed by Steven Moore 

T HE-subtitle must be a joke: Bom in 
Louisville, Kentucky, Hunter 5. 
Thompson may be Southern, but he’s no 
gentleman. In fact. I'm not even sure I’d 
call him civilized. But I would call him 
one of the greatest American writers of 
the 20th century, both for his vibrant 
prose style and his career-long autopsy 
'reports on the death of the American 
Dream. His work is uneven, butat his best 
, he shares with Mark Twain and William 
Gaddis a sense of outrage that expresses 
itself through virulent satire. 

His rock ’n’ roll lifestyle obscures the 
fact he is essentially a moralist and a 
patriot, attacking shame and corruption 
with the vehemence of a biblical proph- 
et (The Book of Revelation is one of his 
favorite books.) To live outside the law 
you must be honest, and Thompson's 
iconoclastic honesty covers a multitude 
of sins. Perhaps he is a gentleman after 
all, in the sense that the Prince of Dark- . 
ness is a gentleman. 

The other subtitle for this book is “The 
, Fear and Loathing Letters, Volume I.” 
.The first of a projected three-volume 
, series, it includes about 200 letters writ- 
ten between 1956, when Thompson was 
19. and 1967, the year he published his 
groundbreaking book “Hell’s Angels.” 
What is immediately apparent from these 
. letters is that Thompson is a bom writer, 
not only by the ease with which he 
handles the language at an early age but 
because of his strong sense of vocation. 

The letters tell the story of his des- 
perate struggle to support himself while 
forging a writing career. Unable to hold 
a conventional job — at a newspaper or 
elsewhere — he became a free-lancer at 


an early age, writing colorful features for 
a variety of newspapers and magazines 
while enduring every form of poverty. 
But his real apprenticeship was in the 
writing of these letters, where he was 
free to work out the aesthetics of what 
would later be called his “gonzo” jour- 
nalism. Some of his letters take die form 
of outrageous fictions, others are pranks 
(like his letters to President Johnson 
applying for the governorship of Amer- 
ican Samoa), and others detail bis ob- 
jections to and frustrations with con- 
ventional journalism. 

He originally planned to be a novelist 
— the F. Scott Fitzgerald of his time, he 
boasted — but had to support himself 
with journalism because he couldn’t sell 
his fiction. He wrote two novels in his 
20$; the excerpts from them that were 
eventually published in Thompson's 
1980 miscellany “Songs or the 
Doomed” show that conventional fiction 
was as unsuited to his talents as con- 
ventional journalism. A weird hybrid of 
the two, he sensed, was needed: well- 
researched nonfiction enlivened by fic- 
tion techniques and filtered through an 
outrageous narrative persona. “Hell's 
Angels” was a step in the right direction, 
but he realized he needed to go further. 
Near the end of “The Proud Highway" 
Thompson tells a correspondent; “I feel 
experimental these days. Something new 
is wanted . . . Gross libel and madness. 
I’m getting bored with stiaigbt writing.” 

A few years later Thompson would 
stumble upon the formula he had been 
searching for in “The Kentucky Derby Is 
Decadent and Depraved,” and then hit 
the mother lode with /Fear and Loathing 
in Las Vegas.” 

Those who know Thompson only from 
his “Fear and Loathing” books or. worse, 
from his caricature as Uncle Duke in 
Gany Trudeau’s "Doonesbury" are in 
for a jolt here. The seriousness of 
Thompson's quest is hammered home by 
the "emotional climax of ’’The Proud 
Highway”: the assassination of President 
Keanedy on Nov. 22, 1963. Thompson 


was devastated, almost reduced to tears, 
and the two letters he wrote, that day 
sputter with hurt and indignation: “It is 
the triumph of lunacy, of rottenness, the 

diitiesT hour in our time It is the death 

of reason/' Filled with new outrage, 
Thompson has a new sense of his mission: 
“No matter what, today is the end of an 
era. No more fair play. From now on it is 
dirty pool and judo in the clinches. The 
savage nuts have shattered the grear myth 
of American decency. They can count me 
in — I feel ready fra a dirty game." 

And those who know Thompson's 
more hallucinogenic prose should con- 
sider this eloquent plea: 

' 'If we cannot produce a generation of 
journalists — or even a good handful — 
who care enough about our world and 
our future to make journalism die great 
literature it can be. then 'professionally 
oriented programs' are a waste of time. 
Without at least a hard core of articulate 
men. convinced that journalism today is 
perhaps the best means of interpreting 
and thereby preserving what little pro- 
gress we have made toward freedom and 
self-respect over the years, without that 
tough-minded elite in our press, ded- 
icated to- concepts that are sensed and 
quietly understood, rather than learned 
in schools — without these men we 
might as well toss in the towel and admit 
that ours is a society too interested in 
comic strips and TV to consider rev- 
olution until it bangs on our front door in 
the dead of some quiet night when our 
guard is finally down and we no longer 
kid ourselves about being the bearers of 
a great and decent dream.” 

Thompson exemplifies the fierce in- 
dividuality and love for democratic ideals 
that used to define an American. This is 
his best book in years; “The Proud High- 
way” vividly bnngs back the days when 
(to echo his diction) Thompson stomped 
the terra like a champion. 

Steven Moore, the author of several 
books and essays on modem literature, 
wroje this for The Washington Post. 


BRIDGE 


" By '-Alan Truscott 

I nternational results 
in the World Bridge Fed- 
eration ’s. 12th Worldwide 
Pairs- played recently are not 
yet available. The best Amer- 
ican score was 77 percent, 
achieved by Connie Golderg 
of Philadelphia and Joe 
.Livezey of Paoli, Pennsyl- 
vania. . 

“Other fop results were: 
■733 percem by Rose Levy of 
Santa’ Monica, California, 

' and . Gerald Bael of Pacific 
California,- 74.7 
' Mary and Richard 
— „ — Kingston, Ontario, 
Canada; ' 68.8 percent by 
> Sandra and Stormy Horn of El 
Paso; Texas. 


The best result in, the New 
York area, was achieved by 
Joyce Menezes of Staten Is- 
land and Jim Daniel-, of 
■ Shrewsbury. New York. 
Playing North-South at the R- 
C C C Club on Staten Island, 
they were -fourth nationwide 
with 71.75 percent On the 
diagramed deal, as North and 
South, they probably beanhe 
rest of the world in two re- 
spects: They reached the bor- 
derline contract of seven no- 
trump, without showing the 
'spade suit, and they did $o. in 
just four bids. 

In their style, two clubs 
was permissible with , eight 
and a half playing tricks, what 
South held. ' 

The response showed four 
controls, counting an ace as 


two and a king as one. South 
Died to clarify his partner's 
holding, and North made the 
final bid knowing that her 
■queens were significant val- 
ues. . 

Wesl led the club king and 
South won and cashed seven 
spade winners. West had dis- 
carding problems, and gave 
up a club, a heart and three 
diamonds. 

It was then easy for South 
to discard the Heart queen on 
the last spade and take four 
diamond tricks in dummy at 
the finish. 

Making foe grand slam 
earned North-South 98 pre- 
determined points out -o£ a 
possible 100 en route to their 
fine result. 


north 

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By maintaining a far-fiung network of news-gathering resources, the World's Daily 
Newspaper brings you unrivalled coverage of world politics, business and economics, 
as well as science, technology, travel, fashion, the arts and sport — ail from an 
international perspective. 

Take advantage of this limited opportunity to try the International Herald Tribune 
with a law cost, 2-month trial subscription and enjoy delivery to your home or office 
every morning. 


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INTERNATIONAL HERALD TRIBUNE ' 
FRIDAY, JUNE 20, 1997 




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At Civilization’s Edge: Touring a Spanish Sanctuary 


S ANLUCAR DB BARRAMEDA, Spain 
— My first glimpse of the Coro Donana 
came shortly after dawn as I traversed a 
narrow street in the loftiest quarter of 
the once-shimmering, now-crumbling Spanish 
city of Sanlncar de Barrameda. 

Gazing north over red-tiled roofs speckled 
with moss, 1 saw the soaring stone church of 
Santo Domingo and in the distance, barely vis- 
ible in the gap in the skyline left by two modem 
and charmless apartment buildings, a low, ho- 
rizontal stretch of solid green. They were pine 
trees, clumped together in the dunes as tightly as 
broccoli in an Andalusian market stalL 
It was an odd introduction to one of the 
world's great wildfowl sanctuaries, bat as it 
turned out, an appropriate one. Like the Ever- 
glades, another birder's Shangri-La in the sun 
belt of a developed country, the Coto Donana 
exists uneasily on the edge of civilization. Over 
the centuries, man and his material needs have 
gnawed away at its green borders and eco- 
system: diminishing, marring, threatening — 
but, for the moment at least, preserving the 
essential. 

The coto (preserve} is a wilderness of dunes, 
pine forests and wetlands on Spain’s southern 
Atlantic coast between the port cities of Huelva 
and Cadiz. Roughly 200 square miles (520 


By Christopher Clarey 

• New Yivk Times Service 


square kilometers) in size, it bills itself as the 
largest national park in Western Europe, which is 
hot as impressive as it sounds, because national 
parks in Europe cannot approach their American 
counterparts in acreage. What is not relative is 
Don ana’s ecological significance. Approximate- 
ly 50 lynx, Europe's only large predatory (and 
endangered) cat, jive within its confines. So do 
28 other mammals, including badgers, otters, 
weasels, mongooses, wild boars, wild horses and 
red deer. 

During the year, about 250 species of birds 

appear here. Some are residents; some are in 
transit to North Africa. And these are not the sort 
of winged creatures that reveal themselves only 
to the serious ornithologist. This enthusiastic 
amateur,' with nothing more than medium- 
strength binoculars, a basic field guide and fre- 
quent help from fellow travelers, spotted nearly 
100 species during a four-day visit in May. 


sky, dunks and WATiR I saw scores of red 
kites and black kites circling alone or in small 
groups above the dunes and marshes in search of 
prey; glossy ibises, purple herons, white storks 
and black-winged stilts nesting; great crested 
grebes carrying their young on their backs as 
they swam; flamingos, egrets, avocets and 
whiskered terns by the hundred; gray herons and 
hoopoes by the dozen; night herons, squacco 
herons, booted eagles ana spoonbills by the 
handful, and exactly one purple gallinule. What 


I did not see, or at least did not recognize, were 
three of the Donana's rarest and most celebrated 
birds: the crested coot, the marbled teal and the 
Spanish imperial eagle, a magnificent predator 
with white markings and a highly uncertain 
future. 

With a professional guide, my chances of 
identifying these three would have increased 
significantly, and I regret not having taken one of 
the reasonably priced bird-watching tours of the 
region offered by private organizations. 

That is not my only regret Many of the mam- 
mals, the lynx included, aze extremely difficult to 
see, and die park's restrictive and often frus- 
trating access policies certainly do not help mat- 
ters. Under present guidelines, the pork can some- 
times seem as elusive as the imperial eagle. ■ 

The four places — all quite pleasant — where 
visitors are permitted to take nature walks or 
observe wildlife are either outside or on the fringe 
of the national park. The only opportunity for die 
average visitor to experience the interior, with its 
miles of marshes ana memorable, shifting dunes, 
is on a guided four-hour excursion in an eight- 
seat Jeep. If you are fortunate or prescient enough 
to secure a spot in one of the Jeeps, it might be 
idyllic. I was neither fortunate nor prescient. 

After reserving a ticket on the tour by tele- 
phone in my intermediate Spanish, I arrived at 
the visitor center of El Acebuche at 8 A.M. and 
discovered that I, like most people, had been 
assigned to one of the hulking, 26-seat vehicles 


thar appeared far better suited to a military 
exercise than a wildlife expedition. The tour 
route and the price are the same; only the trans- 
portation is different. 

My suspicions were soon confirmed as the bus 
rumbled, and I do mean rumbled, in the direction 
of the Donana's 20-mile stretch of Atlantic 
beach, which lies between Matalascanas and the 
mouth of the Guadalquivir River. 

Oh the way to the beach, we passed Macalas- 
canas. a massive beach resort begun during the 
Franco years. Matalascanas, which attracts more 
than 200.000 vacationers in August, lacks high- 
rises, but there is still a dearth of soul and a 
plethora of concrete, not to mention an eyesore 
of a vacant lot that is surrounded by a chain-link 
fence and filled with garbage. There is also 
scattered refuse on the long, lovely beach, all of 
which quickly reminds you of what the adjoining 
Donana is up against. 


History and Nature 


The preserve got its name in die late 16th 
century from Dona Ana de Silva y Mendoza, 
whose' husband, the Duke of Medina Sidonia, 
unsuccessfully commanded Philip ITs Invin- 
cible Armada in 1588. Despite that setback, the 
family would not part with the Donana until 


1897, when it was purchased by William Gar- 
vey. a sherry manufacturer from nearby Jerez de 


vey, a sherry manufacturer from nearby Jerez de 
la Frontera who saw economic potential in the 


The Great Baseball Road Trip 


MOVIE GUIDE 


By Susan Keselenko Coll 


W ASHINGTON — Even 
the most diehard sports 
fen would probably nave 
to concede that throwing 
the kids into the back of a minivan, then 
logging 25,000 miles on the 
road in order to catch 85 base- /2 
ball games — many played by fAC 
such obscure teams as the ((f\ 
Toledo Mud Hens and the Sa- ttl 
v arm ah Sand Gnats — would 
not qualify as the ideal family ^ 
vacation. 

The Adams family of Beth- 
esda, Maryland, would disagree, and 
their recently released Fodor’s guide- 
book: ‘ 'Ballpark Vacations: Great Fam- 
ily Trips to Minor League and Classic 
Major League Baseball Paries Across 
America," makes a reasonably com- 
pelling case for die idea that one can 
take a personal passion — whether it be 


rake a personal passion — wnemer it oe 
baseball or bird watching or kayaking 
— and. with only minimal arm-twisting, 
turn it into an activity the entire family 
can enjoy. 

The authors, Margaret Engel and 
Bruce Adams, explain that the key to 
making their 60-day journey not only 
enjoyable, but crisis-free, was to focus 
primarily on the needs of their children, 
who were 5 and 8 when they made their 
first baseball trial run during spring 
break two years ago. “If they weren’t 
going to be happy.” Engel said, “it was 
going to be misery.” 


Not Just Baseball 


Hence, their visits to 82 ballparks in 
44 states were liberally interspersed with 
stops at children’s museums and amuse- 
ment parks, as well as to state capitals 
and various historical sites, and the re- 
sulting guidebook has as much detail to 


offer about traveling with young chil- 
dren as it does about baseball. 

Adams, a lawyer and public-policy 
analyst with a lifelong love of baseball, 
explained that he had already logged 
many a mile on “guy baseball trips” — 
such as one in which he spent nine days 
traveling 3,000 miles with three friends 
in order to catch 11 games — 
Yv before it occurred to him that 
\ A these excursions might be 
] turned into family events. En- 
yV gel, a writer who loves baseball 
but admits she is “not riveted 
by ‘ every inning of every 
* game," was nonetheless eager 
to make the journey as a “great 
way to see America. ” 

“It’s a good family activity,” Engel 
said, referring to dme spent in some of 
the small, lesser known ballparks. 
“These are parks in the truest sense of 
the word.” Indeed, many minor league 
ballparks offer attractions that extend 
beyond baseball, such as playgrounds, 
carousals and picnic areas. 

Did people think their idea was crazy? 
“Absolutely,'’ Adams said. “I mean, 
people do not believe that kids 
of this age lasted 25.000 miles 
and came back more fun to be ‘ 

with than when they started." 

Still, Adams admits, despite 
measures to guard against bore- f 
dom, which included banging a qa a 
small television set and a VCR, ™ ® 
there was at least one family 
meltdown every day. Their antidote was 
to let the children take a quick dip in the 
pbol at the end of a long day of driving, 
which helped to revive them for a night 
at the ballpark. 

The success of the trip was due in 
large part to their micromanagement of 
mundane details, much of which is also 
catalogued in the book Advice ranges 
from getting frequent oil changes for the 
car to what to do with 60 days' worth of 


dirty laundry (bring your own detergent 
and find a washing machine once a 
week). The family also cleaned ont the 
van at the end of each day to find lost 
sunglasses and the like. 

The authors also set rules regarding 
junk-food consumption: They had a 
one-soft -drink-per-day policy and tried 
to avoid fast-food restaurants in an ef- 
fort to find at least the occasional fruit 
and vegetable. 


T HEIR daughter, Emily, who was 
less than thrilled about baseball, 
having quit her own team when 
she was teased for being the only girl, 
claims that die trip rekindled her en- 
thusiasm for the game. She now plays 
on a softball team and picked up some 
tips on improving her throw. The kids 
also accumulated a lot of stuff, includ- 
ing 60 balls and an impressive assort- 
ment of T-shirts and backpacks. 

Even with liberal doses of eating and 
shopping thrown in. of course, baseball 
is not for everyone, and two other recent 
guidebooks, “Great Nature Vacations 
with Your Kids" and “Great Adventure 
Vacations With Your Kids,” 
both by Dorothy Jordon, .offer 
FA information on trips, including 
IjS-A a National Audubon Society- 


Speed 2 t 
Cruise Control 

Directed b\ Jan De Bout. 
US. 

America's bus-driving 
sweetheart has a new boy- 
friend, the kind of guy who 
can pull a ticket for the Love 
Boat out of his pocket and 
suggest an impromptu get- 
away. That’s how Annie 
(Sandra Bullock) finds her- 
self out to sea with Alex 
(Jason Patric) in “Speed 2: 
Cruise Control,” the latest 
demolition derby from Jan 
(“Twister") De Boat. The 
film also supplies a demen- 
ted terrorist (Willem Dafoe) 
who uses high-tech golf 
clubs as deadly weapons. 
Despite huge resources at 
De Bont's disposal and the 
fact that both he and Bullock 
have achieved stellar status 
since “Speed” screeched 
onto movie screens, the se- 
quel is still a B- movie at 
heart. Beyond a party mood, 
Caribbean scenery and a 
subtitle with A-list over- 
tones (there's a nice ring to 
“Cruise” from the box-of- 



Intimate Relations 

Directed by Philip Good- 
hew. U.K. 

Genteel, bossy homebody 


Mariorie Beasley seems the 
unlikely mainspring of a tor- 
rid affair that ends in a double 
murder, but here she is. 
played with razor-sharp ob- 
servation and excruciating 
verisimilitude by Julie Wal- 
ters in a black comedy of this 
real-life, sensational case of 
the mid-1950s. Maijorie, in 
her early 50s, is married to 
Stanley (Matthew Walker), 
an older man who had a leg 
blown off in the fust war and 
who has the revolting habit 
of removing his artificial 
limb and polishing the shoe 
attached to it at die breakfast 
table. Intimate relations have 
long since ceased between 
the couple, but Maijorie has 
the consolation of a perky 14- 
year-old daughter, her “late 
blessing" (Laura Sadler), 
and Stanley the company of 
an old male hound called 
“Princess Margaret” Into 
the menage walks lodger 
Harold Guppy (Rupert 
Graves), who has been 
brought up in state institu- 
tions, but after a spell in the 
navy has turned into an at- 
tractive, eager-to-please, but 
perilously naive young man. 
Marjorie develops an uncon- 
trollable lust for Harold, but 
the only way of buying 
Joyce’s silence is to admit 
her to the bedroom as an ob- 


Willem Dafoe as the villain in “ Speed 2." 


sponsored eight-day voyage to 
Sweden led by an expert birder 


fice standpoint), “Speed 2” 
doesn't have much in mind 


rr ^h Sweden led by an expert birder 
tiTTI and river expeditions in the 
SM ^ United States and abroad. 

The Adamses, for their part, 
will be sticking to baseball for a while: 
The mini-van is in the shop getting a new 
paint job in preparation for their next 
trip, Engel said. As soon as school lets 
out they plan ro head straight to Charles- 
ton to check out a new stadium. Then it's 
on to Lansing, Michigan, to catch those 
romantic sounding Lugnuts. 


besides convincing an audi- 
ence that a runaway ocean 
liner is a dynamic menace. 
Fine, but it doesn't beat a 
runaway bus. 

(Janet Maslin. NYTj 


Susan Keselenko Coll is a Washing- 
ton-based writer. 


L'Autre Cote 

DE LA MER 

Directed by Dominique 
Cabrera. France. 

Georges Montero (Claude 
Brasseur) has a small factory 
in Oran. An eternal pied - 
noir, a Frenchman rooted in 


Algeria, he is determined to 
stay on. A cataract operation 
has brought him back to 
France, where he finds old 
partners, false friends and 
angry relatives he would 
rather forgfet Nobody looks 
familiar, and he is numb to 
nostalgia, adrift in a blurry 
world — the pacing, the 
harsh accents assault his 
senses. Tarek (Roschdy 
Zem), the young surgeon 
who operates on Georges, 
also has trouble seeing 
clearly: He is a beur, raised in 
France, cut off from Algeria. 
It's a strange tie that grows 
between them, as though 
■they are being pulled togeth- 
er from different sides of the 
ocean. Slowly, they find that 
they are not that far apart 


Brasseur, often type-cast as a 
brute, plays die aging 
Georges, a man without a 
country, stripped to his es- 
sential humanity; Zem, the. 
cool integrated surgeon, 
turns out to be passionate 
about his past his unknown 
self. The women in their lives 
glow like poles of attraction 
and repulsion — Catherine 
Hiegel as Georges’s first 
love, rediscovered, Marthe 
Villaionga as his bitter 
“Parisian" sister, Marilyne 
Canto as Tarek's uncompre- 
hending male. The director, 
bom in Oran, has made 
prize-winning documenta- 
ries; this, her first feature, is a 
captivating piece of fiction 
that rings true. 

(Joan Dupont, IHT) 


server. The casting and per- 
formances are excellent, 
many scenes wickedly fenny 
and the disastrous denoue- 
ment as bizarre as die events 
thar lead up to it f Roderick 
Conway Morris. IHT) 




t ( iar 


■ R. 4 oh GiLCmcr 1.1 The Ymfc Tone VfT 

Ermita de la Virgen Church in El Rocio , a village near the Donana that is the sire of Spain ’s most celebrated Pentecostal pilgrimage; pink flamingos in t he preserve, and a wild horse in the marshland. 


region’s pine forests. The gnawing had begun. It 
was not until the 1950s that determined lobbying 
for its preservation by Spanish and European 
environmentalists took shape. 

Declared a national park in 1969, it has been a 
constant ideological battleground and was a 
cause celebre as recently as 1990. when 10.000 
people marched to protest a proposed beachfront 
resort near Matalascanas that could have further 
strained resources and the vital aquifer that sus- 
tains the park. That development was scrapped, 
but Matalascanas continues to grow. 

As we reached the mouth of die Guadalquivir, 
turned left past a crumbling structure and 
rumbled into the park on a narrow sand track, the 
enthusiasm in our rural assault vehicle was palp- 
ably ebbing. The three truckloads of Spanish 
schoolchildren who followed noisily in our path 
didn't improve oiir moods. And when we 
stopped for the fust time at a clearing frequented 
by red deer and a trio of boys chased after a small 
boar that had ignored the din and dared show its 
snout, I was looking up “refund” in my pocket 
Spanish-English dictionary. 

But the Donana's charms would ultimately 
prevail on this crisp spring morning. By 10 
A.M.. we were driving through appealing Jovr 
d unes and scattered pine trees. By 10:15. 1 was 
standing atop an observation platform, the chil- 
dren nowhere to be heard, with a heronry in my 
binocular sights and a flock of flamingos flying 
past in formation over the marshes. 


A Bigger, Bulkier Voyager Heralds the End to Minivan Revolution 


By Gavin Green 


T HE minivan was invented either 
in America or Europe depending 
on whether you're an American 
or a European. The Americans’ 
case is that the first car-based minivan 
that sold in big numbers was 
the Dodge Caravan/Ply- 
mouth Voyager (same car, 
different makes), intro- 
duced in 1983. It has since 
gone on to sell more than six 
million, making it easily the most pop- 
ular minivan in history. 

Europeans, on the other hand, mostly 
give Renault and its mold-breaking Es- 
pace the credit for the minivan rev- 
olution. Europeans didn't see fee 
Chrysler Voyager (as export versions 
have mosrly teen called) until 1987, 
three years after the Espace hit fee 
streets, and even then it didn't create 
much interest. 

The Espace was much more radical 


THE CAR 
COLUMN 


than the Voyager: It was more truly 
“one-box” in styling (the old Voyager 
looked like a posh commercial van from 
the outside), had a more versatile cabin 
with individual removable seats, drove 
better and was the template most copied 
by rival carmakers desperate to jump on 
the minivan bandwagon. 

(In feet, neither the Espace or the 
Voyager was first: Forty years ago, Fiat 
launched a six-seater called the Mul- 
tipla. But even Fiat can't have thought it 
was much of a brainwave; It was never 
replaced.) 

No matter who is owed the credit for 
the minivan revolution, Chrysler has 
reaped most of the profits. The new 
Chrysler Voyager, as it’s still called in 
export markets, was unveiled at the De- 

_ « I . c 



The Grand Voyager comes with a 
lazy, unstressed 3.j-liter V-6 motor, 
which chugs on like an old coasr-to- 
coast locomotive. Like the Voyager, it 
has seven seats, in two-two-three for- 
mat, with a central aisle for easy access 
and a rear bench seat. It also has a vast 
trunk, the biggest difference from the 
normal Voyager. Most rival minivans, 
when carrying seven people, require 
toothbrush-only packing, owing to the 
want of room behind the rear seats. 


You Pay for the Bulk 


troit show last year. As before, European 
versions are made in Graz, Austria. Corn- 


versions are made in Graz, Austria. Com- 
pared with the old-timer, the new Voy- 
ager is roomier, prettier, more versatile, 
nicer to drive, more comfortable and has 
two rear sliding doors (the old Voyager 
had only one). Whereas the old one may 


have been first, it certainly wasn't best — 
at least not in Europe, where the Espace 
ruled wife all fee absolutism of Louis 
XIV. This time, Chrysler wanted it to be 
different. Market leadership was impor- 
tant, but so was international recognition 
at being fee best. 

The new Voyager certainly looks, 
good, one of the sharpest minivans, the 


product of Chrysler’s excellent design 
studio under the direction of Tom Gale. 
It's also large — fee biggest minivan in 
Europe. The Voyager is just over 20 
centimeters (about 8 inches) longer than 
the new Renault Espace, also launched 
last year. And the longer and posher 
Grand Voyager, as tested, occupies an- 
other 33.7 centimeters of road space. 


The big minivan rides well, steers 
well, is smooth and comfortable. But 
you pay for the bulk: It feels big and 
unwieldy at times. The latest Espace and 
the VW Sharan are more carlike in their 
responses, and much sharper to drive on 
tight, winding European roads. But 
what do you expect? That extra carrying 
capacity has its downside. 

The bulk also makes the vehicle 
more roly-poly on corners. Some rear 


passengers complained of car sickness. 
Their queasiness wasn't helped by 
back windows that can’t be properly 
opened — the rear edge of the window 
pops forward a few inches, giving the 
merest whiff of the outside world. 

The case for buying a Voyager, or 
even more so the Grand Voyager, is 
simple; If you need seven big seats and 
lots of luggage capacity, there’s nothing 
better ir you cany only five to six 
people, some of whom are small chil- 
dren, and want a minivan that handles 
and drives like a car, stick to an Espace 
or a Sharan. 

• Chrysler Grand Voyager. About 
$40,000. 330 lcc V-6, 156 BHP at 4.700 


kph (109 raph). Acceleration; 0-100 kph 
in 1 1 .8 seconds. Average fuel consump- 
tion; 14.0 liters/100 km. 

Next: The Mercedes-Benz A-dass. 


Gavin Green is the editor in 
Car magazine. 


chief of 








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INTERNATIONAL HERALD TRIBUNE, FRIDAY. JUNE 20. 1997 


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____ THE frequent trayeur 

Smart Cards Getting Smarter 








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By Roger Coliis 

International Herald Tribun e 

I T’S 9:30 A.M. in New Yoik. 
You’ve just finished reading your 
e-mail when you get a message 
confirming the meeting in Paris 
tomorrow morning. No problem; you've 
brought a bag to the office just in case, so 
you book a flight through die Internet or 
on-line to your travel agency. You 
download the flight confirmation de- 
tails, along with your seat assignment 


nons such as electronic ticketing by air- 
hn« and other travel operators and pre- 
paid phone cards. They make electronic 
“amerce over open systems secure and 
efficient. 

Gemplus, a French company and a 


review and confirm the bill and get a 
printed receipt. 

“We’re not yet downloading reser- 
vations information onto the chip." says 
Melissa Abernathy, a spokesperson for 
American Express in New York. "But 


ARTS GUIDE 


open dally. To July 27: "Die Epoch© der Mo- 
dem© Kungt: 20. Jahmundert." With 400 paint- 
ings. assemblages, sculptures, installations 
and video sculptures by more than 1 00 artists, 
the exhibition presents the many laces oi Mod- 
ernism. from the beginning of this century to the 
present time. The visitor is invited to follow four 
thematic paths: "Reallty'Distonion," that ex- 


PAGE 11 


Pieabia (1879-1953) became an active mem- 
ber of Dada. the nihilistic movement that 
opened the way for Surrealism. 

■ SPAIN 

Barcelona 

Fundacio Joan Mlro, tel: (3) 329*1908. dosed 


empiifies how artists no longer depict reality on Mondays. To Sept. 14: "LuxLumen. A re-- 


pioneer of smart card technology, and its the chip can transfer data. For example. 
arch-nval Schlumberger, a 70-year-old if you get to the kiosk and want to change 
, field and measurement systems con- your address or other information on 
Iv ) . riierate < account for 70 percent of the vonr Hilton HHonors account mu 


: / 


muta 5"S™ (PCs .' kP 10 !*’ S™« with [he aim of repfidng 

even “ ow u»corpor- netic-strip plastic with smart cards. 8 

ate smart card readers), show up at the 

airport, wave your card within a few A PERSONAL Pdakii r 

inches of the airline “ldosk” (automatic "* PROFIL1 


inches of the airline * ‘kiosk" (automaiic 
card-reader in travelspeak), which prims 
out your boarding pass (ah, yes, you've 


David Boyles, senior vice 
and head of the Smart Card 


its. Barnes out it s not me lull picture yet. 
pilot pro- The full picture may emerge when 
:mg mag- industry standards have been agreed 
ards. upon and when there is enough demand 
from consumers for smart card appli- 
cations to achieve critical mass. 

“This will happen when the banks 

S aident really start to issue smart cards,” says 
nter at David Dingly, a consultant with IBM in 




t V\:; 


(Picasso s Cubist work, Matisse. Beckmann. 
Giacometti, Bacon and Baselitz): '‘Abstraction/ 
Spmtuelity.” focusing on the rejection of the 
object (Kandinsky. Mondrian. Rothko): "Lan- 
guage/Materiai." documenting how artists dis- 
mantled the aura of the work of art. by turning 
mass-produced objects into museum pieces by 
their signatures (Duchamp, Warhol. Beuys): 
and "Dream/Myth." where artists translate 
dream states into visual expression (Dali. 
Baithus. Miro, Magntte). 

Cologne 

Wallraf-Rfchartz-Mueeum, tel: (22i) 221- 


fiection on trie way natural end artificial lightcan 
alter people's behavior and state of mind. Fea- 
tures works by Dan Flavin, Felix Gonzalez ; 
Torres. Bruce Neuman and James Turrell. 

■ IWITZERLAMP 

Lausanne 

Muses des Beaux-Arts, tel: (21) 312-63-32, 
closed Mondays. To Sept. 14: "Cobra: Art Ex- - 
penmental 1 94B-1 951 ." An overview of the first.- 
three years of the artistic movement, with 200,/ 
paintings, sculptures and drawings by artists, , 
from Copenhagen, Brussels and Amsterdam ■ 


2372, dosed Mondays. To Sept. 14: “L'Art —their first letters giving its name to trie group. • 
Gourmand: Stilleben fur Auge, Kcchkunst und Indudes works byAlechmsky. Appel. Corneille 


“The Age of Modernism" in Berlin: 
Picasso's "Grand Nu a la Draperic." 

ant an iroeradel and on vtraitTfcrY^rtio T** 'it urc omari '-aid center at singly, a consultant wiui him m 

Lie Thefoosk is a two-wav i£h Sand Al f er ? can Express, says: “We are de- London. “For example, leading banks in ■ austITa 

has automatically credited V ^9PJ D S a multi-application sman card South Africa are going to issue a million ™ 

^ith freauear-fliJr miles for ^hich we call die ‘ultimate travel card.' chip cards this year. Banksys, a company Vienna 

Whmvoo arrive the n ps t o» You 1611 us what you want and we'll put in owned by 60 Belgian banks, is running a Bank Austria Kurwtforum, tel: (i) 7H91- 

rtariHrd6(£k VM. rn a personal profit — not just a basic ED. test with American Express. Once 5737. open daily To Aug. 17: “Warhol. Beuys. 

Charles at oauue, you go to an auto- but passport, driver’s license medical people like Am ex and Hilton start to do Bru “ Nauman. Gerhard Richter." From the col- 

sr srarswss =Sss”is=£ EsiES£=“ «=»««■ 

inc lden^ pmcliases _ A t the car-rental secure travel arrangements on the In- with airlines to develop common stan- Edinburqh ‘ 

^ SSJSi C0 °PP ns , y ?- ur ldennt y temet, pick up election* cash advances dards for sman cankf especially be- ^ nal Sco “ an * w: (311 332- 

before you leave on a trip, and check-m at rween interline partners, similar to that gSSiSSS/*^* JS SSSSSEi 


Gourmand. Stilleben fur Auge, Kechkunst und 
Gourmets von Aertsen bis van Gogh." Still lifes 
(or connoisseurs and gourmets: 80 works by 
European artists dating back to the 16tn cen- 
tury Features fruit and vegetables paintings by 
Manet and Braque, market and kitchen scenes 
by Aertsen (1507-15751 and Max Ueberman 
(1847-1935), and laid tables by Vuillard. 


releases your car key with instructions 
on bow to find your car. At the hotel you 


airports, hotels and car rental kiosks. for 
‘You’ll be able to put a whole lor of the 


*5 “ “,1^ ou ' s ” e "»• Pe-somU JtaSThTSKSS 


}er tickets, so that you can travel 
t sector wi th, say, BA and transfer 


When you leave the hotel, your receipt, 
along with loyalty program points, is 
downloaded to your card. Back in the 
office, you transfer the expense data 
stored on the card and turn it into an 
expense account with a few key strokes 
on your PC. During the trip you will have 
used your card to check your e-mail by 
inserting it in a “sman" telephone. 

PHENOMENAL advances This sce- 
nario may only be a year or so away 
thanks to the phenomenal advances in 
smart card technology, which promise to 
bring “seamless" travel a tad closer. 

Smart cards, or “hip” cards, are a 
space age away from traditional mag- 
netic-strip cards in that they carry a 
computer chip, a microprocessor with a 
memory of 8,000 bytes of information 
and a potential for much hi gher storage 
through compacting techniques. The 
magnetic-strip card is no more than a 


to United, and so on. So when you check 

preferences. Do you like an aisle or a in at the airport, your electronic file is 
window seat? first or business class? ready for you .and allows you to endorse 
Which airline gives you most FFP miles tickets between airlines if you wish to 
for the trip? All this will be on the card change your reservation, 
and you won’t have to keep repeating it “Where it gets complex is how to 
“The neat thing about smart cards is provide ‘keys’ to separate common in- 
that you can make a transaction any formation from proprietary information 
place any time — in a taxi, in a plane, at stored on the card. You only have so much 
the North Pole; anywhere there’s a space. And while you need systems to be 
device that can read that card. You don’t compatible, you have to avoid companies 


have to be ’on-line’ through some tele- 
com back to tiie host computer. You can 
upload or download information any 
time. Smart cards typically upload a 
bunch of transactions, say once a week, 
to the host computer. We can minor the 
information on the card, so should you 
lose it, we can provide a replacement 
card anywhere in the world through one 
of our local offices.” 

American Express began a pilot pro- 
gram last December of a multifunctional 
smart card with electronic ticketing at 21 


magnetic ID with no processing capa- airports in the United States. But the card 


bility. It cannot interact with any thing ; it 
is only capable of being read. 

Smart cards, on the other hand, are 
personal computers — except for a screen 
and keyboard, which. you get when you 
stick the card into a PC or a te rminal. 
Ultimately, the smart card in your wallet 
will be able to serve as a laptop’ or palmtop 
computer: you will be able To load soft- 
ware onto the equivalent of a disk drive. 

Smart cards have been around for 
some time for single-function applica- 


simpiy identifies the traveler at an “en- 
hanced gate reader." It does not cany the 
actual reservation, nor does it. transfer 
AAdvantage miles to the card. 

A test announced by IBM and Hilton 
Hotels Corporation has added more 
functionality. Travelers check in ar a 
kiosk in the hotel lobby which displays 
your reservation, selects a room based 
on your preferences and issues a key. At 
the’ end of the stay, the traveler checks 
out by swiping the card in the kiosk to 


RECORDINGS 


having reciprocal access to information 
without the card holder’s permission.*’ 

T HERE is then the issue of “con- 
tact" cards (which you swipe, or 
“dip,” in the kiosk)’ versus "con- 
tactless” cards (which you simply wave 
in front of the kiosk). The latter depend 
on radio frequency (RF) technology, 
which can read a smart card several me- 
ters away — even in someone’s pocket. 

Current applications for contactless 
smart cards are from Delta Air Lines on 
its Air Shuttle between New York and 
Bosron and Washington. The card acts as 
a ticket and boarding authorization. There 
is no need to stop at the ticket counter. 

Lufthansa has issued 130,000 Chip- 
Cards — a multifunctional smart card — 
to its frequent fliers and Senator Club 
members for use on German domestic 
flights and to London and Paris. The 
card acts as a ticket and boarding pass 
and serves as a German phone card, a 
Miles & More frequent flier card along 
with access to airport lounges. 


• "steve turri" (Verve): Trombone player jokes are 
malting the rounds. Q: What does a trombone player say 
daring a gig? A: ‘ ‘Would you like fries with your burger, sir?” 
This album, however, is no laughing matter. Some of the best 
trombonists of the day — J. J. Johnson, Frank Lacy, Brin 
Woodman, Robin Eubanks, Turn: and others — join to 
illustrate what Brahms meant when he called the instrument 
the “voice of God.” 

• RAYLEMA "Stop Time” (Buda); Lema, who comes from 
the country formerly called Zaire, is another illustration of 
why Paris is called the capital of African music. His gentle 
tenor voice and piano accompaniment backed ud by a female 
choir, cool percussion and the saxophone of Manu Dibango 
explore shades of that universal folk song in the equatorial 
sky. 

• CHARLIE PARKER "Volume 5 Young Bird, 1945-1946” 
(Media 7, Masters of Jazz Series): One forgets the light-headed 
worldly humor that accompanied die birth of this music. No 
anguish here. “Flat Foot rloogee (With a Floy Floy)’’ and 
“PopiiiuPapititiPopity Pop (Go the Motorsicle)” for starters. 
The atmosphere is Dizzy, the peanuts are salted, the groovin’ 
is high. 

• "rahsaan pattirson"’ (MCA) i Criss-crossing 
the border between R&B and gospel, this is a voice you may 
have heard but cannot quite place. Maybe it s better that way. 
it’s better than most You listen for the music’s sake. 



Mike Zwerin/IHT Steve Tune joins some of the best trombonists of the day. 

CROSSWORD 


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37 Heavy-duty 
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38 Liszt piece 

42 Elevation 

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© Neic York Times/Edited by Will Shorts, 


Solution to Puzzle of June 19 


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Collection.'' The art histonan has assembled a 
collection of 17th and 18th-century paintings 
that includes works by Guercmo, Guido Reni 
and Carracci. 

London 

National Gallery, tel: (171) 747-2885, open 
dally. To Sept. 7: "Cranach: A Closer Look." 
Eleven paintings that cover the beginning of 
Lucas Cranach the Elder's appointment as a 
court painter to the Electors of Saxony in 1 505. 
to his last years as a political prisoner of Em- 
peror Charles V. 

■Tcanapa 

Montreal 

Musee des Beaux-Arts, tel: (514) 285-2000, 
dosed Mondays. To Sept. 7: “Exiles and 
Emigres: The Right of European Artists from 



III Berlin: Umberto Boccioni's “ Uni- 
que Forms of Continuity in Space." 

M IRELAND 
Dublin 

Gallery of Photography, tel: (1) 671-46-54. 


Hitler." An exhibition of 1 40 works by 23 paint- closed Sundays. To Aug. 16: "August Sander." 
ers. sculptors, architects and photographers The photographer chronicled German society 


who fled Hitler's Germany, such as Albers, 
Kandinsky. Grosz. Beckmann and Schwitters. 
The exhibition, which examines the impact of 
this migration on European and American 
artistic and intellectual life between 1933 and 
1 945, will travel to Berlin. 

■ f»ance 
Nantes 

Musee des Beaux-Arts, tel: 02-40-41-65-65. 
dosed Tuesdays. To Sept 15: "Visages du 
Grand Siecle: Le Portrait Francais sous la 
Regne de Louis XIV.” A retrospective of French 
portraiture In painting from 1 660 to 171 5, under 
Louis XIVs reign. More than 70 paintings and 
50 works on paper by artists such as Lar- 
giliierre, Mignard and Rigaud. The exhibition 
wilt travel to Toulouse. 

Paris 

Inetitut du Monde Arabe. tel: 01-40-51-38- 
38, dosed Mondays. To OcL 5: "Jordanie: Sur 
Ibs Pasties Arcneologues." An exploration into 
Jordan's past: The viewer is led on an ar- 
chaeological dig through time: the Ommeyad 
castles of the 7th century, the Byzantine mo- 
saics. the Roman period that followed the 
Nabatean expansion, and the Iron and Bronze 
Ages. Also on show is a copper scroll found at 
Qumran that beers a nonreligious text. 

■ GERMANY 
Berlin 

Marti n-Gro pi us-Bau, tel: (30) 324-50-78, 


with photographs of individuals and their trades 
and crafts during the Weimar Republic. 


Venice 

LVIt Venice Biermiale. To Nov. 9: More than 30 
pavilions showing artists from their countries. 
Among them, a one-man show by U.S. artel 
Robert Cdescott: 1 2 site-specific paintings cre- 
ated by the Portuguese artist Juliao Sarmenio; 
large-formai paintings by Helmut Federle from 
Switzerland: aboriginal paintings in the Aus- 
tralian pavilion and oil paintings by Maxim Kan- 
tor whose work often reflects the dismal con- 
dition of Russians after the tall of communism. 

j NtTHIRLAMPI 

R otterd am 

Kunsthal, tel: (10) 440-03-1 . dosed Mondays. 
To OcL 5: “Monet, van Gogh. Picasso anti 
Others: Highlights from a Collection in The 
Hague.” More than 120 paintings, sculptures, 
drawings and prints dating back to the early 
19th century. The core of the exhibition belongs 
to Dutch artists (Jongkind, Mondnan) in their 
European context, as represented by Monet, 
Kandinsky. Schiele. Klee, Bacon and Morandi. 

■ PORTUGAL 

Lisbon 

Centro Cultural de Belem, tel: (1 ) 301-9606. 
open daily. To Aug. 31: "Francis Pieabia: Ant- 
ologia." Altera short Postknpresslonisi period, 


Indudes works by Alechmsky, Appel. Corneille. 1 
Jom. Pedersen. Uba and vandercam. 

Zurich 

KunetlMUS Zurich, Ml: (1)251-67 -65. doseed 
Mondays. To Sept. 7: "Birth of me Ccd - Amenk- 
anische Malerei von Georgia O'Keeffe bis 
Christopher Wool." At the time of Miles Davis's 
release of his legendary "Birth of the Ccd" 
album. American an witnessed fundamental 

changes. Works by Barnett Newman Jackson 
Pollock. Alex Katz. Viia Celmms and Chuck 
Close document its evolution from the 1 950s. , 

■ UNITED STATES 

ew York 

Museum of Modem Art, ia>: (2121 70B-9400. 
closed Wednesdays. To Sept. 2: ‘‘Pans: The 
1890s." More than 200 pnnts created in the last 
decade of the 19th century by Bonnard. 
Maunce Denis. Renoir. Signac. Toulouse- 
Lautrec and Vuillard, as well as advening 
posters, political journals, theater programs 
and sheer music. 

Washington 

Phillips Collection, lei: (202) 387-2151 
dosed Mondays. To Aug. 31 . "Twentieth-Cen- 
tury Still-Life Paintings.' From the museum's 
holdings. 70 paintings by 47 artists. Documents- 
how the 19th century tradition evolves in 20th- 
century still-lifes by Bonnard. Man Ray. Rufmo 
Tamayo, the Cubist anisis. and more recent 
artists such as Morandi and Ben Nicholson. 

CLOSING SOON 

June 22: "Tony Cragg." Toyota Municipal Mu- 
seum of Art, Aichl, Japan. 

June 22: "From Pockets to Pouches. Three 
Centuries oi Handbags." Brooklyn Museum 
of Art. New York. 

June 22; "Georges Rouault. 1871-1958: Ret- 
rospective." Museo d'Arte Modems,' 
Lugano. 

June 23: "Un Defi au Gout." Musee du Louvre. . 
Paris. 



Cindy Sherman's ” Untitled . HI 23" 
is also part of the Berlin show. 


SUMMER FESTIVALS 


Today, the Arts Guide lists 
major music festivals due to 
start next month in Europe and- 
North America. August and 
September festivals mi// be lis- 
ted on Friday. July IS. 

Aix-en-Provence 
Festival International d'Art 
Lyrique et de Musique, tbl: (33) 
04-42-17-34-34, fax: 04-42-17-34- 
21 . July 1 2-27: No opera this year 
with the festival devoted to dance 
and music. Ballets are siaged in 
the courtyard of the Archbishop's 
Palace and Pierre Monteux and 
Pierre Boulez are in the pit (July 
12-23). William Christie takes over 
the Saint-Sauveur Cathedral for a 
performance of Verti's "Vespro 
della Beata Vergine” (July 13). 

Avignon, France 

Festival d’ Avignon, tel: (33) 04- 
90-14-14-14. fax: 04-90-14-14-30. 
July 10 to Aug. 2: The festival pur- 
sues its tradition of theater per- 
formances in the courtyard of the 
Palace of the Popes. In other ven- 
ues. Russian actors and directors 
perform works by Turgenev, Mar- 
ina Tsvetaeva. Moliere and 
Shakespeare. 

Bayreuth, Germany 
Bayreuth 1997, tel: (49) 921- 


chestra, the Bournemouth orghiu sing Gounod, Puccini, Verdi 
Symphony Orchestra and the Or- under Michel Plasson's baton, 
chestra of the Age of Enlighten- 
ment Joan Rodgers is one of the Ossiach-Villach, Austria 
visiting soloists. Carinthischer Sommer 1 997, let: 

(43) 42-43-25-10, fax: 42-43-23- 
Dubrovnik, Croatia 53. July 4 to Aug. 28: Concerts by 

48th Dubrovnik Summer Festi- orchestras from Slovenia, France. 
vaL tel: (385) 020- 412-288 or 26- Italy. Hungary and Russia, cham- 
351 or 21-795. fax: 27-944. Inter- ber orchestras and recitals by so- 
net http J/www.laus.hr/festival. Ju- loisls inducting Cheryl Studer and 
ly 1 0 to Aug. 25: The festival offers Ingomar Rainer (organ), 
theater evenings, orchestral con- 
certs. chamber music and redials. Prades, France 
The roster of soloists includes 46e Festival Pablo Casals, tel: 
Gidon Kremer. violin (July 11). (33) 04-68-96-33-07. fax: 04-68- 
Emma Kirkby, soprano (July 15). 96-50-95. July 26 to Aug. 13: 
AHons Kontaisky and John LiW. pi- Brahms's and Schuberts com- 
anos (July 23 and 24). The Hagen plete sonatas, trios, quintets and 
Quartet perforins on July 28. sextets performed by soloists from 

all over the world. 

Kuhmo, Finland 

28th Kuhmo Chamber Music Salzburg, Austria 
Festival, tel: (358) 8-652-0936, Salzburger Festspiete, tel: (662) 
fax: 652-1961, e-mail: kuhmo.fes- 84-66-82. tax: 84-4661. Internet: 
tival G pp.netppl.fi . July 1 3-27: The http J/www^alzb-fesLco.at/salzb- 


works of Monteverdi. Vivaldi. 
Beethoven. Boccherini, Dvorak 
and Bartok form the core of the 


lest, e-mail: info@salzb-lest.co.at. 
July 19 to Aug. 31: In the Grosses 
Festspielhaus, “Boris Godunov" 


program together with works by 70 (conducted by Valeri Gergiev, with 


American composers, some of Samuel Ramey): “Pelleas et Mel- 
them as yet unknown in Europe. isande" (directed by Robert 

Wilson, conducted by Sytvain 
London CambreJing with Russell Braun 

BBC Proms *97, tel: (44)1 71 589- and Dawn Upshaw in the title roles) 
8212. Internet: http://bbc.co.uk/ and "Wozzeck” (under Claudio 


in the northern cities of Lubeck.- 
Ktel and Hamburg. Schoenberg’S 1 
"Moses und Aron." in a production' 
ol the Leipzig Opera. Is performed 1 ' 
in the Hamburg Staatsoper (July. 
9). In Kiel, Jordi Savafl conducts 
the Came rata Academica 

Salzburg in a Mozart and Schubert', 
program (July 7): Jessye Norman, 
performs In a lieder evening (July- 
27) and Leonard Slatkin conducts : 
the Schleswig-Holstein Musik Fes-* 
tival Orchestra (Aug. 16), after e- 
frst performance in Lubeck (Aug.- 
15). Peter Schreier sings' 
Schubert's “Winterreise" in Heide' 
(July 30). 

Verbier, Switzerland 
Verbler Festival & Academy, tel: 1 
(41) 27-771-62-62. lax 771-70-57. 
e-mail: into ©verbierfesti val.com.* 
July 18 to Aug. 3: More than 40 
concerts and other performances in ' 
the alpine setting. The roster of 
artiste includes Myung-Whun , 
Chung al the piano and Julian Uoyd • 
Webber at the ceBo. Barbara* 
Hendncks (July 20) and Martha Ar- , 
gench (July 26) are Invited to put 
together the program of their 
choice. Sir Neville Marriner. Kurt' 
Masur, Giuseppe SinopoJi and Yuri, 
Temirkanovconduct the Jeunesses- 
Musicales World Orchestra. Master 
class e s, orchestra rehearsals and 


proms/. July 18 to Sept. 13: A con- Abbado). New productions of Moz- improvised performances are free. 


78780 (Information only). Tickets cert every night in the Royal Albert art's operas to be performed In the 


must be ordered by mail (no fax) to 
Postfach 10-02-62. Bayreuth. D- 
95402. July 25 to Aug. 28: The {ra- 
tional Wagnerian program. 

James Levine conducts the Ring: 
and Giuseppe Sinopoli a Wolfgang 
Wlagner production of "Parsifal." Adonis.” Some of the European 
Daniel Barenboim leads “Tristan’' orchestras return to the Proms, ln- 
and "Die Me iste ranger." •* eluding the Royal Concertgebouw 

Orchestra with Rlocardo Chailly, 
Brecekz, Austria the Gustav Mahler Youth Orches- 

Bregenzer FestepieJe, tel: (43) tra under Pierre Boulez and the 
5574-407-6, fax: 407-400, Inter- Swedish Radio Symphony Or- 
nee http:ZAvww.vol.al/tregenzer- chestra with Esa-Pekka Salonen, 
festspiete, e-mail: bregenzer 


Hall. Among the offerings, a com- 
missioned work from Iannis Xena- 
kis. “Sea-Change" based on 
Shakespeare's 'Tempest" and a 


Kleines Festspielhaus Include 
“Mitridate Re efi Ponto," “Lucio 
Silla," "La Clemenza di Tito," and 
"Die Entfuhrung a us dem Serai!." 


British premiere of Hans Werner Esa-Pekka Salonen conducts “Le 
Henze’s recent opera "Venus and Grand Macabre,” composed by 


Gyorgy Ligeti in the mid-1970s. 
Mendelssohn’s “Elias." Mahler's 
Ninth. Britten’s "War Requiem" are 
on the bill. Abbado leads a series ol 
Schubert concerts, with Bryn Tefel, 
Thomas Quasthoff and Anne Satie 
von Otter, soloists. 


Ofegtsplele.vol.al July 17 to Aug. 
21 : The festival is planning 20 per- 
formances of "Porgy and Bess” on 
the floating stage with the Vienna 
Symphony conducted by Andrew 
Litton, the Harlem Singers and the 
Catfish-Row Dancers (premiere 
on July 18). In the Festspielhaus. 
there are five performances of Ant- 
on Rubinstein's 1871 opera. "The 
Demon.” Vladimir Fedoseyev. Ro- 
ger Norrington and Marcello Viotti 
conduct concerts with the Vienna 
Symphony (July 28, Aug. 4 and 
11 ). 

Cheltenham, England 
53d Cheltenham International 
Festival of Music, tel: (44) 1242- 
227-979. fax: 573-902, Internet 
http://www.ctevteg.co.uk/fBBtivaIs. 
July 5-20: Acefebration erf Brahms, 


New York 

Lincoln Center Festival, tel: (1- 
212) 721-6500, Internet http:// 
www.lincolncenier.org/festlvd. Ju- 
ly 8-27: The Royal Bafiet Covont 


Savon li kna, Finland 
Savonllnna Opera Festival, tel: 
al, tel: (1- Tel: (358) 15-476-750. Fax: (358) 
fit http:// 15-4767540, Internet: http:// 
sstlval. Ju- www.festivals.fi/savonllnna. July 5 
et Covent to Aug. 4: To celebrate the 80th 


Garden offers three programs cho- anniversary of Finnish Indepen- 
reographed by Sir Kenneth Mac- dence, the festival is offering the 


Mfllan and Sir Frederick Ashton, 
while the Royal Opera stages a 
production of Hans Pfitznerfe 


world premiere of "Afeksis Klin" by 
Einojuhanl Rautavaara. In the 
Olavirtiinna castle, performances 


Palestrina," with Thomas Moser of The Magic Flute" in Finnish and 


In the title role (July 21 , 24 and 26). 
Kurt Masur conducts the New York 
Philharmonic (July 12, 14, 18, 19 
and 20). 


Orange, France Theater. In the cathec 

Choraglas, tel: (33) 04-80-34-24- Sch refer (tenor) and 
24. fax: 04-90-34-15-52. July 12 to Christfried Winkler (or 
Aug. 5: In the Theatre Antique, to form In a Bach evening, 
an audience of 8,000, perfor- 
mances of “Lucia dl Lammer- SctejEnm-HoLSTBM. I 


Tannhauser" in German. "Prince 
igor (premiere on July 28} and 
“Parsifal” (opening on Aug. 2 un- 
der VaJeri Gergiev) are performed 
by the St Petersburg Maryi risky 
Theater. In the cathedral, Peter 
Schreier (tenor) and Michael-: 
Christfried Winkler (organ) per- ; 


who died 100 years ago, with all moor,” (July 12 and 15): 'Tristan,'’ 
the German composer's symphon- In a concert version (July 19); 'Tur- 
les and string quartets to be per- andof (Aug. 2 end 5). On Aug. 4. 
formed by the BBC Symphony Or- Roberto Alagna and Angela Ghe- 


SctflJ-SWIQ-HoLST&t, Qbwany 
Schleawfg-Holatein Musik Fes- 
tival, tel: (49) 431-68-70-80, fax: 
56-91-82. July 5 to Aug. 24: The 
festival holds most performances 


Verona, Italy 

Arena di Verona 1997, tel: (39) 8' 
320-00-75, fax 320-02-27, inter- 
net http://www.cosi.tt/V9rona, e-- 
mail: arena e bigliettoelettronico.it. 

July 4 to Aug. 31: In the 20,000-" 

seat Roman arena, several per- 
formances each of “Macbeth,” 
“Madama Butterfly." “Aida," "Car- 
men" (with Jose Carerras) and 
“Rlgotetto.” Zubin Mehta conducts 
Verdi's Requiem, with Ruggero 
Raimondi, soloist (Aug. 25). 


Best Bet for 

GAMBLERS 

This Summer at the 
VA’RKERT CASINO 
Budapest 
European Flight Tickets 
5 Star Hotel Rooms and 
Dinner in our 
Award-Winning 
Valentine Restaurant 
FREE 

For all Qualifying Players. 
For further inform atirvr.. 
Tel.! 36-1-202 4244 
Fib 36-1-202 6764 


t 







RESIDENTIAL REAL ESTATE 


SWITZERLAND 


SWITZERLAND 


EySGANT I8th CENTURY MANOR HOUSE 
WITH A MAGNIFICENT VIEW OF LAKE 
GENEVA AND THE ALPS. 

A rare Jewel completely renovated. Spacious grounds Include larra 
and outbuildings, vineyards, swimming pool tennis court and horse 
riding lad&tles. Building possibilities. Private mooring nearby. 
Available Tor rent or purchase. 

Reply in confidence fa 
Globe Plan &CieSA 

Cti. Claude An* 4 - PO Box 247 - CH-itiOMorges 
Tel. 41 21 802 61 30 Fax. 41'21 802 61 32 
E-rriaH:swtes3ccess0swtesonline.ch. 



FRANCE 


Auction sale after liquidation at the Palais de Justus erf Parts 
on Thursday, Jtrfy 3rd 1997 at 230 am In ONE LOT 



so-called 

-Chateau de Clairefontaine- 


Composed of: Manor, caretaker's house 
Chapel ponds, parks & gardens 


Chapel, ponds, parks & gardens 

■ ■ on 4 ha grounds — — 

at 4, Chemin Rural de Itiippodrome 


TOURGEVILLE (14) 
STARTING PRICE: FF 2,100,000. 


Me Eddy KENIG, lawyer at Pans 16th - 85 are. Mozart -Tsl. + 33 (0) 1 42 88 10 34 
Visit Friday June 7th from 3:00 tU 5:00 pm or on appointment wifr Me KENIG. 


AUCTION SALE in the Palais de Justice of Paris, 
on Thursday, July 3rd 1997, at 2:30 p.m. 

APARTMENT IN PARIS 6th 


31, rue de Tournon 

7 MAIN ROOMS 1st, 2nd & 3rd floor 

STAFKTING PRICE: FF 3,000,000 


Contact Me Gilbert MANCEAU. Lawyer, Parts Bar 
5 Avenue Chartes-Floquat 75008 PARIS Tel +a3 (0) 1 47 34 


Visit on site organized on Thursday June 26th 19a 
by Me Louis-Jacques PARGADE, bailiff. Tel +33 


1147 3478 0803 
.from 10 S1 12 am 
0)1 47 42 91 60. 




HIGH CLASS VILLA 


BANYULS sur MR - FRANCE 

Beautiful Catdan Mas overiooiong medrtar- 
ranerai, ojcoupfeand tea and maintain 
viows 30 mns Parptaan aiipart. 10 bn to 
Spain Coda Brava 2 7 ha woodsd site, 
gamer, saduded on hiltlop abew urupated 
vilage, beachs, (ml wroyads B«t cfc 
maM n France Big tivtog roan A bed- 
rooms, modem boten. 2 bath, 3 WCi. 
garage, ufcfay roans Separate pod and 
cabanas w* bedroom. WC, Kitchen 
FF 3 iriffian. 

TsL: +33(0)4 86 88 33 79 
Fax: 8688 5382 


HOLIDAYS 


DISCOUNT TRAVEL 


aired aurs. 


Why pay retail? 

Diraiourc buys, ci imposes and alls its own nip* 
iLrecrlv without anv intermediaries 

TOP PROMOTION: CRETE Juiy/August 4 130 FF 

I week Ilighr + h>xel MINOS PALACE 5* Luxe A chins Nikoljos 
Full hood 

Wine included. Free tennis. One child is free. 

Reduced price. Departure 30/06 and 7/07 = -340 FF. 

Supplementary prke: Departure 4 and 1 1/08 = +200 FF 

Fnv iLwmeiUtUhiu up>>u i«1el +33iOil 45 62 62 62 

Miniiel 3615 Direelours 1 2N FF/nm or www 'iireetuurs.fr 
OPEN on The SUNDAYS 22 aod 24 of June 


Omm-Ehtte, 75006 Paris 

.ilKT M SNAV Tmal flnucl.il tiuninTcc 


eiunintiv Iri-m AP^ 


SAFARIS & TOURS 





SAFARICENTRE 
INTERNATIONAL CSA 

CLimc. tuture. adventure tours A 
safaris in Africa. Lion Amenra. 
Asa. lndoduna 

VTrf> hnp. tnnr safaricwtire com 
Tei 310-5+6-Hll - Fax 310-546-3188 
E-tnul mfogsat'jrkctnre com 


Bed & Breakfasts 


MANHATTAN LODGINGS. NYC. 5h0fl 
stay luxury apartment, supetw B J B 
regislry. many locations 
Tet C1W75-2Q90 Fa. 212-477-0420 


TUSCANY. 


Apartment totaty XjmtsfeQ n a mederal 
village m the Tuscan count lyskte. tour 
tw+tooms tour bathrooms. large living 
room, modem Uchm. laundry. vacunn 
cleaner system, entrance, large court- 
yart. tap lenace. garter, gym. garage 
Available for rent as second residence 
cal oSca. +39-55-3360210 Hal Fenajo 



Lebanon 


HOTEL AL BUSTAN. East ol Beirut 
5 sta- deluxe Exwptional beaten, secu- 
rity. comfort, line nistne. conveniens, 
business ssvkas. sareSta TV 18 rmn 
transfer (ram airport tree. UTELL Fax. 
1961} 4-972439 ! (+33) 10)1-47200007 


TUSCAN FARMHOUSE. 3 bedrooms, 2 
bathe. Gorgeous Rental. Superb site. 
SepL art classes CallfFar (303) 
975-1316 USA or 39578755194 Uy 


BREATHTAKMG YEW OF NEW YORK, 
20 ft glass wall Central Park S Cdy 
Luxuriously iwrusued pena. fax. came. 
For business musclar o (unwnnon 
couple 1 block io Carnegie Hart, a to 
LeflHman 5 to Uncotn Center. Muse- 
ums. Thaaieis. Weekly. Momuiy. 3 day 
weekends (minimum) or long term. 
TflL 212*262-1561 Far T1B-884-4142 


PANAREA - Small quiet house, mca 
nea Renting July & August Tet +39 
90 983042 (Leave message t absent!. 


VENICE CENTER in beeulM paten 
sefl contained ftai to la, + double rooms 
Mfl Path Tel 00 3941 52 2S 685 


Sardinia 


Holiday Rentals 


Caribbean 


ST. BAHTHEIEMY, F.W.I... OVER 200 
PRIVATE VACATION VILLAS ■ beach- 
front k> liiBsido with pods Our agents 
have inspected an vfi& personally For 
reservations on St. Barts. SL Mama An- 
ouk Batata Mretlque. the Ytopn b- 
Gntfc . Cal WIMCC/'SIBAHTH - U$ 
(401)849-80 12/ to 047-6290. Irom 
FRANCE 05 90 16 20 - ENGLAND 0 
-600694318 


COSTA SMERALDA Porto Rotondo. 
beauW house right on the shorn. Large 
reception. 5 double bedrooms wth an* 
sale bams Tat +39 78934062 or 
+33(0)146371485 Fa +33(0)143590703 


Indonesia 


BALI 0CEANFR0NT VILA 
New 4 bedrooms A baths - Kite Beech 
Usury pmate via. air contMoning. 
jacuzzL pal &reo 10 Stoll. USS95QftBy 
FAX; (65) 738600B 


International 
Herald Tribune 
ads work 



COSTA S HERALD A-UJXURIQUS VUA 
beauffiul arcMeduro. referenca Cala S 
Vdpa Hoiet-S-Cwella. Security/ VIP 
netffams, total privacy (y sea l tend, 
2 priirtea nek beaches wot leg aobriun 
aaesstte oriy by boo, 7 bedrooms pta 
34ietttom staff via, 1 ha land, targe 
swimming pooL Juhr - August ■ Sept - 
Renting Tet PARIS +33 (0)1 

40743800. Foe (0)1 4563646- 


Paris and Suburbs 


BOUGIVAL 

GARDEN LEVEL, 


Real Estate 
for Sale 


in TOWNHOUSE 
in me head of a landscaped puk 
utfi swtamng pool 
250 hjjh apaunan - 
Laigs lacapoon 
bay wih fireplace 
3 bedrooms ■ 3 btffcs 
Meed kttdfxn 
FF2.900.000 


SOTRAGIH 



PRIVATE ISLAM) M 
TAX HAVEMAHAMAS 
On tv spfendd lard & mjeA In Exu* 
mas, one of tits rrcxt maraMsm tebita 
100 panan privae is la cals. 35 acres. 
5 beaches, 1 lagoon. 3 cottages S5JM 
Tel 305-63241898 Fax 30 m3£43Q6 


Caribbean 


SAMT MAARTEN, Nettiertarta Antilles. 
Watafert home on Oystopond, 4 pod. 
4 bsh. poo. boat dock vifh 2 m depth. 
3000+ Sam. land, tfirea ocean access: 
USS650000. Fax (5611 272*5101 USA 


French Provinces 


Deep In rural Ranee, but only 2 1(2 
tan from Paris on the TGV SUDstarM 
Manor House fully renovated by an 
Amatean to Nghesr contort standanls. 
Stoning on a ni top in 10 la fkmerad 
park. Spectacutar view. Guest house 
also fitly renovated Total 7 betfom, 
3 recaptions. FF3.750JOOO Additional 
land avatable inckifing irufTle orchard. 
TfL owner +33 (0)545318474 offlea or 
(0)545318473 home. Fax (Q546318787 


ItolquB bation HBatorlcal sia 160 opn. 
Bring -space. Landscaped garden. Pool 
For detab ter owner +33ffl}4422632i4. 


TROUVULE SEA VIEW, In manor with 
park, charming apartmem 54 sqjn. + 
mezzanine (amencan kitchen. 2 bed- 
rooms. bath Met room terrace, parting 
SoutfrWesi Yaariy carotakar. FF&.ofi 
drect owner +33 (0)1 42 27 71 07 


S.W, NEAR TOULOUSE. LovhgN 
restored smal Hone brmhouse, Ogane 
garden, tnd trees, tranquility. Tel: USA 
707-937-3313 E-rnal Imagine 6 mot arg. 


French Riviera 


HEART OF CAP FERRAT 
Magnfcnt sea new. FF16U 
Se&nni private beach. F10M 
Chamwig 5 bedroom via. FF6.5M 
ZOOsqm. ardiBCfs via, FF5BM 


Sumptuous property wah semiew, 
gaden. terraces, a bargam price. 
HAUSSUAIW Group 
Tat: -+33 (D) 4 92 00 49 49 
Fix +33 (4) 4 93 89 40 88 
MoMIk +33 (Q 5 07 74 30 39 


CANNES 

CALFORIC 

Townhouse, 6 bedrooms. 6 bathrooms, 
2 living rooms. 1 (firing room, terrace, 
sMnmtog pool View on sea. ar 
contfiiaring, garage, maid's room. 

5 mins Croisede Urgant 
Isamhert Tet +33 (OK 09 54 11 7tt 
Fine +33 (0)4 N 69 84 89. 


CANNES-BEACHFRONT CONDO 
Spectacular sea view. 800 sq.ft 2nd 
floor. 3 rooms (1 bedroom drtig. Bring 
(sofa bed converts to 2 nd bedroomi. My 
equroped ttchan. i bfflh. stoma room. 
25 ft balcony, corderge. parking, gol, 
manna and stores nearby. 2 minutes 
from beach, avadabte nmedalaty. Best 
otter Cal USA 312-335-0252 or Fax 
312-335-0251 


ST JEAN CAP FERRAT 
Luniuus via on 2 Hoors (ca.400 sqm) 
with elevator. 5 bedrooms with bath, 
tame Imgdnlng room, «l kept gardwi 
(2200 sq.m.), pool garage etc. Contact 
tat Swnzeriand ++ 41-1-926 7495 


FRBICH RIVERA, 40 mbn IKE, 200 
sq m Hastate on 3500 sq.m. grounds, 
magnfcert view. 4 double betfeooms, 3 
btomxmB. swimming pool access to pri- 
vate tennis end take beach Asking price 
FF23M Owner +33 (0)4 94 76 53 34 


COTE D'AZUR - YUefranche sur Mar. 
Magnificent 3 roams, terrace, sunny, 
view bay S Jean Cap FeiraL refined 
decoram Tec +33)0)4 83 80 60 10 


NICE FOR SALE, PANORAMIC VIEW 
on sea and mountains, 3 rooms, extra 
large terrace NO AGENCY Tel: owner 
+33 H» 4 93 96 43 09 


Great Britain 


HOKESEARCH LONDON Let us 
search lor you. We find homes ( Rats 
to buy and rent and provide corporate 
relocation services. For individuals 
and companies. Tel: +44 171 B38 
1060 Fax + 44 171 830 1077 
IflpWwww.honieseaitfuxujMiaii 


FLORENCE - Prestigious comfort** 
PENTHOUSE in Nsioflc csfltaf fluents 
merkxttng On benJhd rooftops and fa- 
mous Duane 2 bedrooms. JacuzzL ter- 
race. fireplace and more Call: Arcadia 
Agency Teh 39-55-501486 Fax: 39 55 


Mbnaco 


PRINCIPALITY OP MONACO 

One bedroom ^tertnient f#ta| 
the Pftcadu Casino Ebgare modem 
buUng nth indoor swrmng pool 
Storage cellar and parking induded 




AGENCE 


Le Part Palace 
25 avenue da k Casta 
uc 98000 Hone Casio 
Tst: (377) 93 25 15 00 
Fax (377) 93 25 3G 33 
wwwmantecaitorrefiaaderrpark agencs 


MONTH CARLO, 

388 sqm. 3 bedrooms. 3112 baths, 
marble entrance. Stay, 3 mdoor parteng 
spaces. 3 cetera, large terraces 
fabulous view d merSerranean and 
Monaco Has not p»n Wed bi stoce 
USS12M renovaaon. For sale by owner. 
Td: +33 (OU 08 37 03 ft 


VALLEE DE CHEVREUSE (78] HOUSE 
Brcepunaf. In top coreBfon. lastorical & 
bucoSc ste (Port Rural). 25 km Parte 
canter, 10 km Veraws. 15 km Stunt 
Germam itfl school near gdf l airport. 
SO sqm, B mate roans, Ug healed pod. 
pooWtouse/BBO. 2380 sqm ttidscaped 
8 nfisd gaidea Scar garage + BO sqm 


artist's sUMwbbu Raady to movB-n. 

8300000 (8 = FRL70) or 5S,30Q1nontfl 


ran Mr Georges Noel Telephone: +33 
(0)1 3944 1260. Fax +33 (Qjl 3944 1268 


YOUR PARK APARTKNT 
& YOUR COUNTRY RESIDENCE 
M ONE SINGLE HOME 
12 bn from Bofteffkm from La Defense 


Exceptional tocation. ui&nted graanery, 
oriveev. 2J00 so m. suoerti park wfth 


privacy. 2J00 sqm. superb park wih 
pool charming house to renovate + 
modem ndapendeni guest house. 
RARE QUALTTY N/tSTMENT. 
Teh +33 (Q1 47 71 63 55 enbsfvfty 


MEUDON-aaLEVUE tor safe, apart- 
ment with exceptonal viw d Parts 105 
sqm. fourth Boor d a resdence srtueoed 
m a large park, beside Maxtor to rest. 
Completely private, three bottoms, 2 
baths, double firing (36 sq.m.), fully 
equipped Kitchen, cedar, two garage 
spaces. Belevue staton 5 min., cose to 
international school at Sevres. FF135CW. 
Tet +33(0)1 45 3494 39 (home) a (0)1 
40 57 68 55 (office) 


FACING B0JS DE VINCENNES 

% class 139 sqm rMfex. 4thStti 
2 marble baft. 2 bedrooms, 
eqiteped Mttnn. 40 sq.m. treed lenace 
Searty. 2 parkings a nut to be seen, 
MAKE AN OFFER*. 

Tel Ms BourdU' +33 (0)1 43 68 27 69 
office hours or home (0)1 43 68 57 22 


15th, CLOSE TO 7th irraniSnanMl 


tj '4 I : I f I i I 1 Ml 


HOUSE of 1,300 eqJt 
wit i»ge reception room opening onto a 
surety & cpM garden without bemg 
ovariooked 4 beanoms. period frsp&e. 
FFWOtlOOO. PfflJP HAWKK 
Tel: +33 (0)1 42681111 


EXCEPTIONAL One d the most prastt- 
gcus properties In LE VESINET. very 
residential west Paris suburb. Over 25 
rooms. 600 sq.m Kving space on 2 
levels + 300 sq m. basemani but for 
Jeanne Lamm (deagner) by Founts* 
and decorated by Rateau ■ Arts Deco* 
style. Growls. French style park on 
5.000 sqm. + lake + 1^00 sqm. tores. 
Price FF 11 5. Tet +33 (0)1 64 24 66 92 


17th, CITE DES FLEURS, 
D&JGHTFUL NAPOLEON III FOLLY 
4,000 sqlL or a sumy garden, trpte 
reception roam, vast adsTs s&xko. 

9 bedrooms. Pnvatt akeat of 
townhousn with gardens. FF9.000.000 
PHfLP HAWKES 
Tet +33 (0)1 42 68 11 11 


16ft, POMPE 

BEAUTFU L FLAT 263 aom ABOUT 
comptetdy idumbtevd. a berttoms. 

2 livings. 1 lining, fu^ equipped Mchen. 
3rd floor, Iraestone butting FF7 nteoa 
Td (0)1 40 76 05 11 - (0)6 09 81 05 IS 


9CEAUX - 5km south PARIS. TRPLEX 
ReddentiaL Direct owner. 115 sqm • 6 
room s, doubl e firing, kit chen, f i replace , 
baft shower room, gaz cental heateg. 
5 mins RER. center town, schools, 
unversrties. FFl ,750,000. Tel +33 (0)1 
4660 0117 Fax: VLM +33 (0)1 44777606 


PLACE DES VOSGES - Beauty 16th 
century buMng Maly renoaad, owner 
sens apeitmem 105 sqm. Perfect rad- 
lion FF3, 350.000. Please lax 941- 
6BI559 or e-malt oryxfisUk 


OLD PECO. WEST PAHS ISrrtns RER 
gorgeous property 300 sqm restored 
3.000 sq.m, garden. 4 bedrooms, huge 
kving, ware cellar. Direct access shops. 
Owner USS1 M. +33 (0) 1 34 51 67 00 


1ST ■ ST. HONORE, NEAR VENDOME. 
Prestidous befflon tar dagani two iron 
dpartmert 58 sqm FFl.480i)00 Owner 
Tel +33 (0)1 4260 3932 (answering me- 
ettoe) or +33 (0)6 6043 6180 (mobfe). 


78 - FEUCHEHOULES - 15 mhs Paris 


La Defense. 17th canny tnusa Listed. 
By owner USS7DD.000. To 30th d Jute 


By owner USS7D0.000. To 304i of Juh 
T el- +33(0)5 65 « 45 88 aher 1st d 
July Tet +33(0)1 30 54 53 96 


8th, FBG ST HONORE. In a 'mews’, 
charming plad-a-terre. paneled, 
50sqm.+small independent room, ter- 


50sqm.+srnall independent room, ter- 
race. sUence. FF1M Tel/Fax 
+33(0)145018226 or (0)144093932 


16th, MUETTE - Exceptional 2 level 
apartment (170 sqm) veranda opens 
onto private gardoi (220 sqm) Justified 
high price TevFax *33 fflt 45 03 36 50 


LE LY&CHAMTHLY. owner sete big 
house with lOJXOsqm garden Recep- 
tion. 6 bottoms, 4 betiwoms. 2 rivets. 
20 mtn. to Roissy Tel office 
+33(0)142602720 


OFF BASTILLE, owner sets 72 sq m 
fipartmant, 2nd fkw, pafect confiton, 
kwnor courtyard, quia and airy Com- 
modal lease posstte. FFl 380,000. Td 
P)1 43 56 21 33 F4( (0)1 47 00 77 10 


BEST PART OF 18th. 50 m from Seta, 
garfens, Eiffel tower, quiet 3-room Sal, 
3rd floor, on garden, parteng. cellar 
FF2.4 U Tel (0)1 4527 2317 after Bpm 


7th, RUE DE BEAUNE, 2 totaly renovat- 
ed* apartments in 17th an. buklmg. 
b4sam. F3^M, 54sqm FF2^M. Own- 
er by F»: +33(0)147033927 


FABULOUS ILE SAINT LOUIS. 12S 
sqm. superbly renamed, 17th cerl S 
toons. 2 baths. FRiML Owner Td. +33 
(0)1 4604 9042 Fax +33 (0)1 4603 SUB 


PARIS 16th, MDOOR TOMS COURT 
FF 4M. Private or commercial. PossUe 
partnership.' Contact IJf.T. Box 322. 
, 92521 NHJHYCEDEX FRANCE 


16th, PASSY, 42 stun, studio, balcony 
on garden, It. Good common FFi.ilt 
Td t 33 Ml 47 45 88 88. no agencies 


5th LATW QUARTER. Hartlriigwy's 
apartment. 40 sqm fuH d charm 
FF1.150.000 Tel: +33 ( 0)1 43 98 38 57 



LEFT BANK nr NOTRE DAME chermtog 
76 sq m , beams, 4th fioodKL quid, 
pBIklnq FRL2M. Td ffll 42 61 14 18 


ST GERHAM DES PRES top floor Its. 
16th cent house, Ideal couple. 3/4 
taro view Td +33 (01143293757 


up 



■ 


RUE BAREST DE JOUY, dose to Les 
invafidet, chanting Bat (73 sqp), apa- 
ctous Evlng. bedroom 8 OBduuoni My 
equlppad iotina Id +33 (0)1 46246781 


NYMlhfpffjTtrs MRoom&ChJlra 

PREWAR CONDO STEALS 

Ureqas 25' Towntnaa wtt (kraftor. 


Romania 


ROMANIA 

Eroded Oppomndsi tor 
biwarares h Ind darafopmA 
Fax 44(0)171 4918892 Tet 0171 4991766 


Unqua Z5' Towoboau w» eemx. 

1 BedroOTi bdh ta SC5K. Lt» SS78 
carenon charges /real aefede mm 
Also arateblr. Garden apamwf. 

2 BedraonSiS MM. S695H- 1500 sL 
S8B7 coramoo dragond esBH am. 

Joan KHz 

212 S5W82BF8X 212-7344850 


212-7^e0ft^« 212473S3B1 

DOUGLAS EUIMN 



place FMKate; 


Holland 


BiZA, SPAM 

BEAUnFUL NEDfTBtflAHEAN VH1A 
i btadt from tea. 1 kmhnebgB, 

5 bedrooms. 4 iffl baths pim private 
spatmenL 5 ouldoor terraces, spacacu- 
lar mr swtanftg pool exquMa land- 
scaping, voy private, oeet riewg. Fdy ' 
fmfefffllrtii*2cas.B50K. 
2124294845 Fn 201-8024)016 


NYCWsE. SSItoams 

Beautiful 3 Betoom Condo 

Spectacular vtewc + 3 axponm grace 
wb apadous 3 Bedroom home. Eroded 
buddmg feattira poof. Heitt CUt & 
garage. S&OQQ 

AaoMaeabso 

212-S0481?fte 212-57M681 


HOMEFnOGftS Rm. Herenractt 1« 
1016 BHAftHtenTd +31 28839225! 
ftc 6382262 




DOUGLAS EUJMAN 


SPAIN SOTOGRANDE. eteganl via. sea 
and gol views, 4 batsfl baft. Vote) 


cetengs. dose a Vddnra. Untetand 
garden, sunning pool £285.000. Twat 
+34 56 795 038 a rant tar Ryder Cup 


Switzerland 


NAPLES, FLORIDA. 

LUXURY HH3HRBE OH BEACH! 
3800 sqft 3 bedoomas beft mada 
room, pnvatt dubs: G^yachitem 
USS145U. 

Nattwlsndi' PETBt B. IEB7 BETTER 
laffHONEff AX NUMBEH 



ink f irm Amm 


t rike 


PORTOFMO. Exetostea. luxury via 
unqua flaw, prate access seaside. 6 
bedrooms. 5 Mlhro oc s monthly rent 
Rene 00 a» 2 783642 Fax 00 39 2 
7620S3 (Ace Irm 


Embassy Service 

til ■ 

. . ' - * -TK 

YOUR REAL STATE 


•>. i. . tfacym 

AGBfTW PARIS 

*.-• 

-—x.*- - vrflfai 

Td: +33 (0)1 47^05 

r ‘ 

f-kr Ht. 


LAKEGBCVA&ALPS 

Sale to toretonere authertad 
our eoBdatity since 1675 


Paris Area Furnished 


NYC/UatfisonlPark 


Aaradhie propeittas, overtodano views 
> to 5 beODSB. ttra Sfr 200.000. 
REVACSA 

52, MontbrfRant CH-1211 GENEYA 2 
Td 4122-734 15 40 Fix 734 1220 


BEST CONDO HIOEAWAYl 

Spacious, brtdn stutto (fireoty across 
front Cartyte. fid Service fcafemg. roof 
amlen avetebta. Amrannaiely SCO sf. 
Sjropen flavor. S210.Q02. 

Ann Land 2124504618 


V1LLARS-OLLON. Iramertete sale. 
2 bedroom, 2 bdhs, kSchenetie, 
furnished apartment. Indoor pool. 
330,000 SF. Tet 514-737-1456 Cffltada. 


DOUGLAS ELLWAN 



2 rooms. 2nd floor, very 
bright FF5.60D metudmg O arga s. 
MONTUARTRE - Artad*i dteer. 1 Si 


FOR SALE DUE TO 8.LME8S, 4 my 
single famly home. samMetached with 


balcony In Xusadasl Turkey. House 
Is haf constate (tome, rod and extro 
wafts) magrdeere harbor view Artfttec- 
lud plans, baftmom and Hchen fixtures 
avafebie Contact: Monty Chertt. Tat: 
212-764-5637: Fax: 212-944-1718 USA 


SOUTHAMPTON VLLAQE NY. Original 
Itausa bid I6B0> on prestigious street. 
5 bedrooms, 4 1/2 baft, man bouse. 
Endosad garden, febutoiE trees Also, 2 
btf2 bath conge. Bolt tame bang. 
Room far pool or tame conn 5 nw*at 
writ u ocean beaches & eotrg shops. 
Vitas S900K. Now 5754BC FIRM. Contact 
Barbara: 1-516-287-Z762 Fax; 1-516* 
287-2785 USA. 


AT HOME M PARS 






Apaitawts to red fumkhsd or noL 
Sales & Property btenaganani Sancas. 
25Av Hod* 75000 Peru Fx 01 -48611020 


KSSB 


Tel: +33 


i 


USA Residential 


HYC - TRUMP TOWS 
60 di floor toga 1 bedroom i U 2 lah 
apartment. Grande floors, spectaoiar 
day and mght views. Available 
nrmedteldy. SSS5K. For sate by Owner. 
Cal 2D1-520-0410 USA 


NYQ5thAve 



SOUTH OF UTW QUARTER, IIS 
sqa. 3 bedroam. doubts tang, btfnq 


on gatdaa Aug. 1st FF14J 
aft attBire. Tfi -33 (0)1 40 i 


MONTPARNASSE. 2 rooms + turn 
cue charts, afevaur FB.TOfL Tit +33 
fQI 47 07 36 « fern messagi MMse 


SHERRY NETHERLAND HOTEL 

Wonderful Park vrews. kteM pied a terra. 
2 BedfoonVbain. Also: 5 room apanmeri 
available. Orignal detatis. emy amensy 
+ maid senrice. 8395800. 

Am Lind 212-650-481 B 


DOUGLAS ELLWAN 


NYC-150 CENTRAL PARK SOUTH. 
HAMPSHIRE HOUSE pied a terra or 
two. Two fully fumshad combined stu- 
dios Comectng hafiway. Buy 1 or bath 
at S175K each. 500(550 sq ft. Mainte- 
nance S121 55131 2/mo. Nth kmiy hotel 
sennces(ut3iies)aHe TV. Ansa lichoete 
212-769-3322 X317 Fax: 212-3G7-5194 


EXCEPTIONAL RUE DU BAC. 140 
sqjtiro ttc l i ttedpniafacotifyanlQtl* 
eL 2 bedrooms, rung room, lige btag. 
d contorts. Free Aug 159i - end Dec. 
FRSXttffl* Cal +ffl B)1 45 44 76 74 


Paris Ana Unfurnished 


92 • NEAR NEUDLUT - DUPLEX - 
EXCEPTIONAL 5 berttoms, 3 terraces, 
vtew, 2 parings. FFT7.000 per ninth. 
T* +33 (0)1 « 74 24 21. 


PAHS HI - ST GBWAW DBS PRES. 
BaautiU solos and 2 roomraareneDte 
SIW and long terms. DAUmnC Tk- 
+33 ffll 43 54 B4 Oa 




U^. 5500,000 REDUCTION Madison. 
Wscorram. ranked »1 residential ay m 
U.S by Money Magazine: 2 home 
estate 50 ntaor smmmng pool, sauna. 
40000 studen univerefty. ^rnphony. 6 


AYE FOCH . wry hig h cte ss. IB sqm . 
auto, baft Muhenette. air condboreng. 
FF3500 per month al charges kidoded. 
Tet +33 (0)1 45 00 50 80 



major anines, secluded, fish pond, gal, 
154 acres (62 Hectares). U.S. 54.7M, 
negotiable terms. FAX 1-608445-7794 




THE INTERMARKET 
Continues 
on Page 17 


j i 


HOTEL 

JRelais Christine 


3, imCMm - 75006 PAUS 
TROT 40 51 60 80 
fan 01 40 51 60 >1 

In tfia center of St.- Germain-des- 
Prfa, on a calm street near Notre 
Dame and the quays of the Seine, fho 
HOTEL RELAJS CHRISTINE, a' 16tfi 
century cloister, offers you the 
tranquil'rfy of its 50 air-corwrfiarwd 
rooms and duplexes giving onto a 
garden or a flowered courtyard. 


★ HOTEL 

Pavilion de la Relne 

28, place desVwpss -75003 

Ttf.01 40291919 
Fax; 01 40 29 19 20 

Place des Vosges, in lie heart of fhe 
Marais, near the Picasso and 
Camovdet & Museums, the HOTEL 
PAVH10N DE LA RSNE proposes 
tranquilrfy of Hs 55 oirconcKfioned 
rooms and duplexes giving onto a 
garden or a flowered courtyard. 
Privctie hotel parking. 


THE SAINT JAMES PARIS 

The SAJNT JAMES PARIS, previously known as fhe SAINT JAMB CLUB is 
now a full crateou how under rfw same management as the Relate Christine 
and the Pavilion de la Reine. 

The Saint James is in the heart of the exdusive 16th canea of Paris, near Av& 
Fodi. Swrounded by a beewfiful private garden, it has 48 lovely bedrooms 
and suites and is crir-expnditkwiecL Other amenities indude oar/library, 
restaurant, gym, sawio, jacuzzi and private car park. Nearly afl our guests 
fry us once and never stay anywhere else. Rooms rem 1600 FF. 

teldren: 43 A vs. Bvaeaud 
751 16 PAMS 

L T*Ls 01 44 05 81 81 

V Fcoa 01 44 05 81 82 J 


PARIS 

LES SUITES SAENT-HONORE 

★★★★ 


13, rue D’Aguesseau, 75008 Paris 

Just off the Faubourg Saint-Honor 4 and The Efysee Palace 

A LUXURY APARTMENT HOTEL RESIDENCE 


Very exclusive, located in one of the most prestigious neigh- 
bourhoods: Faubourg Saint-Honore and Champs Elys&s. 
Thirteen personalized large apartments up to 1200 sq. feet 
completely restored in 1992 with fully equipped kitchens, liv- 
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marble bathrooms and some with studies. 

Ideal for both family holidays and business trips, a perfect 
“pied-a-terre". 

All hotel services. Daily maid service. Air conditionning. 
Underground parking. Complete security. 

For more information or reservations, please fax direettv to: 
+33 (O) 1 42 66 35 70 or call +33 (0)1 44 51 16 35 ' 




BERSOLfS m ST-GERMAIN 


Close to Musrie d'Orsay. and the 
Louvie. a charming I7ch cert 


Townhouse, beamed ceilings, vaulted 
cellar, bar/breakfasr room, Io well- 
equipped comfortable roams with full 
bath, hair dryer, direct dial phone. 
oble-TV, indmdusl safe deposit box. 


— Ak condition neo — 
Breakfast included iMIn Jnightsi 
★w* 

28. nie de Ule - 75007 PARIS 
Tet. +33 (Oil 42 60 73 79 
Fax + 33 (OH 49 27 05 55 


SfCoA/ffemerri/ 
Sfcinf’ 

■CrCr* 

Ideally looted io the bean of cultural Puls 
ILwra, IkfiJe rfOotr, Sara Gamin do Flo). 
17ft cent tad. quia street, won deooreai 
Fur the rSHeranc tawfla Fasunl xtunfaB 
gina. Good ran fa Jdy & Augoa 
Tet (33) 0142 60 82 14 
Itax (33) 0142 61 40 38 
^ 8, rne de VernentL 75007 Fsris 




★★★★ - 

Directly cm hs private beach 
172 rooms and suites 
Water -activities 
Special 7 -days pac kage in July: 
From 4.2(H) FF per person 
with breakfast 
and access to die beach 
15-17 BrJBaudori 
F.Q61 60 JUAN LES PINS 
Tek 33 (0)4 92 83 57 57 

Fax: 33 (0)4 92 93 57 56 

SRS Members - Managed by AIM 




M0l?5i: 


Bv:220Fra 

Or4estro:568Fo 


er/Sbow : 750 Fk 
A l tanuB ituliteif 


fiienc/t Riviera 


Paris & Suburbs 


1 2, Avene George V - Ptwfa » 
TeL 0147 23 32 82 
Fox 01 47 Z3 48 25 


French Provinces 


PROVENCEMOf&ES. Charailng stone 
house on 2 separate iterate with pool 
18m x fire, 3 bottom, sleeps 6, wry 
comtartabte. Superb vims. Ren avati- 
sbte now to October. Cat Marto-Matfe- 
learte Nelson Tel +33(0)4 30 76 75 00 
Fax (0)4 90 76 75 Of 


CAP D’ANTIBES (06) 

REAUTWL ESTATE 1 1 

On Dw seafroft 

SEA WATER SWUttWG POOL, 


A0C EN PROVpfCE- Les Mle«, besttfa 

castle, al equipped, 12 people, pool 
ftr*l2ft 00m aasss road, 1 am to gol 
and tennis 1*15 aug. FF35.000. 16-30 
aug. FF25JXX1 Td+S(tl)442242050 



1st - OVERLOOKING THE TUtLERIES 
GAKJENS oral made couiyaid. 
tor one reek, one montn or mere - 
Nsirijr tunMied Safi, from 40 sqm 
to 110 sqm HOTEL SERVICES. 
T* +33 (0)1 44 58 43 21 


MA MATSON 


ftfXCsafeY Jn F6gfi Ouaflfjr 

fimstad Hmw tfraqtax few 


PROVENCE, luxury flastide, 12*15 par- 
sons. 7 battofos, 4+ (whs, park 6 ha, 
huge pool tends Close maoevaf town. 
With an fxlRties. Free July on Tel 
+33(0)466226732 Fax (0)4 66223038 


CAP m - 2 km Mote Carlo. Bele 
Epoque waterfront via, terraces over- 
toomg sedoded bar, port, 4 double 
roans. 4 bflths. Engfesh-sptaaw stsfi. 
UnaxpadBt% nalafM 4ft August to 19 
September a later (a tongsr. Cal vite 
direct - 33 (0)4 93 78 27 Gl w proatia 
kiLatocn- 44 (0)171 407 6451 


JULY ONLY. HEART H0HTHARTRE. 
US. owner, cfBnrfrn, hdy equpped 2- 
roan apaitmenL Cable TV. Posdto to 
9ftp 4. FI 550 net/wk FB 500 net lim. 
Tet (D)i*4i 43 93 84 office after Item 
® feme (0)1*42 54 70 62 


TEL/FAX: 433(0)1 46 48 8850 


TBt, METRO INVAUDES, 2 beds duptoc. 
2 bafts, dasskal fumtehings. ioo sqm, 
FFl3.eoainon{h Avafiatw June 25th 
ftrougti Ofl. Tah +33 (0)1 45 55 44 5& 


PARS 16th. exceptional epanman. iw 
lo Charrps Elysees s Tracadero.® 
sqm al equpped tar reception i Mg; 
Shortm term. Tet +33 (0)i «»3 & 
Or Blfl M 40 14 56 Fftt (Oil 4SD0 (ri® 


SOUTH BRITTANY - Beacn vfe. unique 
tocaorL steeps 8. Weakly retlaL June id 
Sept TeVFisc +33 (0)1 45 51 27 tK 


CAP D-ANTR8, beaUtl estate at he 
■saefrant, sea water swimming pool, 4 
berttoms. 4 baft rooms «ft WCs. Rat- 
al: August. September. Tel: 
' 322245JS£2 


3rd, MARAS, unique taw. charm, tst- 
MttY- 3-raoni apartmem. video security, 
Barege. JULVttUGUST, ’SEPTEMBER 
2/3 monos. Trt (0)1 42 77 45 43 evaa. 


PARS Gill, ST. GHTMAW EJ£S PR& 
Rue de Seine. B0 sqm., hgh ceteap- 
wry sunny & quel Design decartOA 
carte TV. From 5ft August » WtS® 
FFl5JHMftno. Tel +33 (0)1 * 54 » ^ 


ST JEAN DE LUZ, vfa 10 persons. 8 
contorts. July FFSOjDOO/nc a 2 weeks. 
Tet +33 (0)1 6954 8481 (leave massage) 


CAP DTUfflBES * Near beaches ft got, 
Outstardng villa «ft pool. Sleeps 7. 
4 bedrooms, 2 bathe, fa contftnnjnq 
airniv. goal Al year rertaL Tet owner 
*33 {(MHB!6tl2t Far (0M93G17863. 


ARTIST APARTMENT, "DouraoiS’. View 
on Sacra Coen. SQsqk, Am. & Seat, 
FPlSHOOfmo Tel (0)1425780i| 


MONTPARNASSE, (to Janfr ABWije. 

airiei spadocs 3-room ^artmem- 
equiflwd. JOj to end Oft 

ctofitgcfarpes. 1^+33 (0)1 4321 (543 







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jtd-r C: 







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touM CttCBu Ac ted 


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■■■■■ i**- mu 

-- *«S trm 'A* ■■■am 

-z z J-itS* 


MARAS dal in 1 8 th cent house, 130 
spn, 2 i (2 bedroom®, equipped. July & 
Auq FiaoOOnxi Tet +33(0i142741W7 


SCEAUX - AUGUST, 22Q sqm . 

5bejttt*B. 1000 sqm 

PSrte center. FF1SJOOO- +WD1 4 ®® 359 




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BUSINESS/FINANCE 



FRIDAY, JUNE 20, 1997 


page n 




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THE SNTERMJUIKS 
Continues ) 

on Page 1? 


Franc: i 


Its Mills S \|\ l-HONl® 

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■ '■ I 


In India, 
Coke Takes 
New Tack 

Soft-Drink Firm Aims 
To Topple No* 1 Pepsi 

By Miriam Jordan 

Special to the Herald Tribune 

N EW DELHI — If anyone 
should be loyal to Coke, it’s 
Uttam Singh. Mr. Singh, who 
is disabled, swapped begging 
for selling soft drinks after Coca-Crfa 
Co. recently fitted his rusty tricycle 
with a big red umbrella and cooler. 

Yet Mr. Singh cannot resist selling 
Pepsi, too. “My customers ask for it,’’ 
he says unapologetically, even though 
executives of Coca-Cola India have 
come around to remind him of his 

rwmiiitmftnt tO Cnlra , 

Armed with novel mnHrf*in g 
strategies, a new boss and a new ad 
ve^ingagency, Coca-Cola is turning 

3e few markets in the wedd where 
Coke trails Pepsi in sales. 

If Coke can concoct a w inning for- 
mula here, the potential is vast Unlike 
the West, where growth in soft-drink 
sales is leveling off, this country of 
950 million people consumes an av- 
erage of only four bottles of soft drinks 
a year per person, and the number is 
likely to grow rapidly. 

But since returning to India in 1993, 
Coca-Cola has been hurt by poor re- 
lations with its bottlers, unsuccessful 
ads and neglect of its totally acquired 
cola, Thoms Up. In April, Coca-Cola 
named its third chief for India in four 
years. “We need to do all the right 
dungs," said Donald Short, the Indian 
unit’s new president. 

Coca-Cola left India in 1977, when a 
nationalistic government demanded 

INTERNATIONAL MANAGtS* 

that it sell out to local interests and 
divulge its secret formula. It returned 
16 years later — three years after 
PepsiCo Inc. started selling its drinks 

in India _ 

Despite the late start, many industry 
analysts predict Coke will easily cap- 
ture the lead. To ensure fast re-entry, 
die company paid $40 million to buy 
die biggest Indian soft-drink brands, 
including Thums Up, from a family- 
owned business. The acquisition gave 
Coca-Cola instant access to more than 
two dozen bottlers whose 53 plants 
supplied much of India. 

^Coca-Cola made the best strategic 
decision: to buy out the largest 
brand,” Jagdeep Kapoor, a marketing 
consultant in Bombay, said. “At a 
stroke of a pen, it had a franchise 
network of 50-plus bottling plants." 

Coca-Cola's resolve to make Indian 
production and distribution as effi- 
cient as in other markets put it in direct 
confrontation with its bottlers, who 
have neither the financial muscle dot 
the inclination to expand as quickly as 
Coke wants. “Some bottlers are un- 


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Soft-drink crates being used to store ice-cream cones in New Delhi. 


able to invest at levels required," Mr. 
Short said. 

So Coca-Cola off e red to buy the 
bottlers, in exchange for which the 
Indian companies wonld continue to 
manage homing operations and get an 
equity stake in Coca-Cola India, which 
plans to invest $700 milli on in bottling 
and distribution throughout India. But 
the bottlers, who are mostly small 
businessmen accustomed to owning 
their own companies, resisted. 

‘ ‘We don't regard ourselves as part- 
ners of Coca-Cola,’’ said a bottler who 
asked not to be identified. * ‘I can't wait 
1 0 years to make money. ’ ' Ultimately, 
however, the bottler predicted, it will 
be difficult to resist pressure from 
Coca-Cola. Two companies, in fact, 
did recently agree to sell out 

Coca-Cola's other major misstep in 
India was to neglect its locally ac- 


Cola Count in India 


Market share held by cola brands. 



CampaCola 
2 . 0 % 

Source: Industry Estimates, first quarter 1997 1 


[in- 


quired cola brand, Thums Up. The 
company poured marketing resources 
into Coke, assuming that Thums Up 
drinkers would switch to it They 
didn't and PepsiCo sales zoomed past 
those of both competitors. 

Pepsi has about 265 percent of In- 
dia's carbonated-drink market com- 
pared with 17 percent for Thums Up 
and 13 percent for Coke, according to 
industry estimates. The rest is split 
mainly among noncola drinks. 

Last year, the company decided to 
revitalize Timms Up. It unveiled an 
marketing and advertising campaign 
with die slogan, ‘ T want my thunder," 
that is considered a success. The ads 
reinforce Thums Up's appeal to young 
Indian men as the choice beverage of 
the adventuresome and tough. 

Coke's own campaign cud not hit 
the spot although the company out- 
spent Pepsi oq advertising, according 
to industry estimates. It chose Weiden 
& Kennedy of the United States, 
which created Coke's Olympic cam- 
paign, to produce ads for the cricket 
World Cup last year. 

Meanwhile, Pepsi ads have consis- 
tently exploited Indian pop culture, 
featuring Hindi film stars and cricket 
celebrities. 

In April, Coca-Cola gave its ac- 
count to Chaitra Leo Burnett, a joint 
venture between Leo Burnett Co. and 
Chaitra Advertising of India, which 
gave Thums Up a new start. 

Last month, the agency unveiled a 
campaign timed for a cricket tour- 
nament sponsored by Coke. Hie ad 
featured passionate fans talking about 
Indian cricket “It immediately struck 
a chord with Indians," Mr. Kapoor, 
the consultant, said. 


End of Thailand ‘Dream Team’ 

Baht and Stocks Slump Again as 2 Ministers Quit 


CiwHpOedbyOar Sufi From DupiOr An 

BANGKOK — Prime Minister 
Chavalit Yongchaiyudh of Thailand 
briefly named himself finance minister 
Thursday as two members of his 
“dream team” of economic 
troubleshooters resigned, spurring both 
a drop in the baht and a 3.8 percent fall in 
the stock market. 

Commerce Minister Narongchai 
Akrasanee quit shortly after Finance 
Minister Amnuay Viravan, who led the 
team, delivered his resignation letter to 
Mr. Chavalit, 

As Thailand's currency slumped, the 
dollar rose to close in Bangkok at 23.50 
baht Thursday, up from 23.15 baht 
Wednesday. 

Tbs main Stock Exchange of Thai- 
land index slid 18.17 points to 464.77 
and at one point had fallen as low as 
457.97 points. It was the lowest close 
since March 1989. 

“We came in together, so we have to 
leave together," said Mr. Narongchai, 
an Amnuay protegd and one of two 
prominent businessmen asked to join 
the cabinet in December. 

At a news conference, Mr. Chavalit 
said he would submit the name of a 
candidate to replace Mr. Amnuay to 
King Bhumibol Adulyadej on Friday. 
Mr. Chavalit, a former general with no 
economic experience, announced he 
would take the finance reins temporarily 
and then later appointed Thawachwong 
Nachiengmai, a deputy finance min- 
ister, as caretaker. 

Mr. Chavalit said Mr. Amnuay 's 


policies would continue, including the 
following of fiscal austerity' measures, 
the refusal to devalue the currency, the 
pressuring of banks to cut interest rates 
and the offering of bailout packages to 
the slumping property and financial sec- 
tors. 

The resignation throws the economy 
and government into uncertainty. Mr. 
Amnuay had been touted by Mr. 
Chavalit as being a steady, apolitical 
hand at the wheel as Thailand steers 
through its worst economic difficulties 
in a decade. 

Mr. Amnuay's departure signals a 
defeat for the strategy of letting talented 
nonpoliticians run the economy. 

Tne Chan Panana Party. an important 
member of Mr. Chavalit's coalition, had 
pushed for Mr. Amnuay's ouster and 
will have a major voice in choosing his 
successor. 

“Mr. Amnuay tried very hard to 
solve problems but still he hasn’t fixed 
some of them,' ' Mr. Chavalit said. “Our 
government has always had a policy to 
recruit good people for the adminis- 
tration. We retain that policy.'* 

Analysts said they nad foreseen an 
impending power struggle within days 
of Mr. Chavalit's swearing-in as prime 
minister on Dec. 1 and after he named 
Chatichai Choonhavan as a senior ad- 
viser on economic matters. 

Chart Pattana was the second biggest 
party in the coalition, and had used this 
position to stake a claim for a major role 
in economic leadership, observers 
said. 


The pony had campaigned on thei 
claim that Mr. Chatichai. 75. had been ; 
responsible for the boom years of the! 
late 1 980s, when he was prime minister,' 
and that he could turn the economy; 
around again. 

Analysis, however, say overborrow-; 
ing. overbuilding and asset inflation ini- . 
Hated during that period led to the cur- 
rent economic and financial crisis. 

Economic growth has slowed to a 
projecled 5 percent to 6 percent after a 
decade of gross domestic product 
growth above S percent, and financial 
institutions are saddled with bad debts 
estimated at S00 billion baht (S34 bil- 
lion 1 . 

Mr. Amnuay said one of the reasons 
he quit was the roll-back of excise tax 
increases he said were needed to help 
balance the budget. 

Industry Minister Korn Dabarangsi 
hud insisted that the 10 percent tax on 
two-stroke motorcycles, dry cell bat- 
teries and marble and graniie products 
were causing too much hardship for 
poor consumers and struggling indus- 
tries. 

Mr. Kom he has butted heads with 
Mr. Amnuay when the latter's fiscal and 
monetary policies have put what Mr. 
Kom sees as undue burdens on in- 
dustty. 

The Central Bank of the Philippines, 
meanwhile, raised overnight rates to 
quell speculative attacks on the peso 
after Mr. Amnuay's resignation and its 
effect on the battered baht. 

(AP. AFP. Reuters l 


Airbus Gets an Order From Northwest 

$2 Billion Raict With U.S. Carrier Helps Consortium^ Battle With Boeing 


By Barry James 

Inumationol Herald Tribune 


PARIS — The European Airbus con- 
sortium said Thursday that Northwest 
Airlines Inc., its best U.S. customer, was 
planning to buy 50 A3 19 jets valued at 
an estimated $2 billion. 

The sale, expected to be concluded 
□ext month, confirmed the strength of 
Airbus's position in the North American 
market following its other big sales to 
United Airlines Inc. and USAnr Inc. 

It was also a morale-booster for the 
four-country consortium after Boeing 
Co. recently signed exclusive 20-year 
contracts with three major U.S. camera: 
AMR Corp.’s American Airlines, Delta 
Air Lines Inc. and Continental Airlines 
Inc.- Given tire 25-year life span of an 
airliner, those deals would essentially 
lock Airbus out of an important part of 
the U.S. market for the next half-cen- 
tury. The European Union is seeking to 
block the deals on antitrust grounds. 

Northwest Airlines already flies 50 
Airbus A320s, and it has contracted for 
20 additional aircraft to be delivered 
over the next two years. It also is await- 
ing delivery of 16 wide-bodied A330s, 
and Airbus said it had taken options on 
100 A3 19s. 

In a statement. Airbus quoted North- 
west’s president, Jon Dasburg. as say- 


ing, “We are hopeful that this memor- 
andum of understanding will result in a 
final agreement in the near future.'' John 
Leahy, senior vice president for sales at 
Airbus, said the consortium hoped to 
complete the agreement next month. 

The A3 19, which carries about 125 
passengers, is the smallest of the A320 
family of jets and competes directly 
with Boeing's 737-700. Both aircraft 
have been on display this week at the 
Paris Air Show. 

With Boeing's planned acquisition of 
McDonnell Douglas Corp., Airbus is its 
only rival in the market for airliners with 
more than 100 seats. Most of the an- 
nouncements for new orders at the air 
show have come from Airbus, although 
this is a poor guide to aircraft orders 
over a long period. Airbus has more than 
a third of toe maiket and is aiming to win 
half, but to get there it has to break 
Boeing's monopoly on toe jumbo cat- 
egory. Airbus plans to launch a 550-seat 
plane if it can get enough customers on 
board, along with a 1 00 -seat regional jet 
that it is producing with China. 

One of the most significant orders for 
Airbus this month has been one from 
F innair for 12 A320s and an option to 
buy 24 additional planes. Finnair has 
until now been a loyal customer of Mc- 
Donnell Douglas Corp., whose MD-80s 
and MD-90s account for about a quarter 


of the medium-range market in Europe 
and form the backbone of Alitalia Air- 
lines' fleet. Boeing has not said whether 
it intends to continue production of Mc- 
Donnell Douglas aircraft if its takeover 
bid for McDonnell is successful. 

Hie Airbus consortium comprises 
Aerospatiale of France, British 
Aerospace PLC, Construccioues Aero- 
na uiicas SA of Spain and Deutsche 
Aerospace AG of Germany. 

■ French Defense Consolidatioii 

Prime Minister Lionel Jospin told toe 
National Assembly that France's de- 
fense companies must consolidate to 
improve competitiveness, something 
that leaders of the industiy have been 
saying at toe air show all week. 

Bui Mr. Jospin said nothing about 
privatization, which is the crux of toe 
consolidation of the French aircraft in- 
dustry. with toe merger of state-owned; 
Aerospatiale and Dassault Aviation. | 
Serge Dassault, the head of Dassault,, 
said that he favored toe merger provided; 
that toe combined company was at least; 
51 percent privatized. He conceded that 1 
toe state could retain a “golden share."; 

Of Airbus's four partners. Aerospa- 
tiale is toe only one that is slate-owned,; 
making it difficult to conceive how it' 
would fit into toe consortium's future 1 
corporate structure. 


FCC Chief, in a Preemptive Strike, Calls an AT&T-Bell Merger ‘Unthinkable’ 




By Mark Landler 

' New York Times Service 












NEW YORK — Seeking to scuttle 
the laigest corporate merger in history 
• before it is even formally proposed, the 
, chairman of the Federal Coramunica- 
itions Commission declared Thursday 
Jhat merging AT&T Coip. with a re- 
"gional Bell telephone company would 
-be “unthinkable' ’ under antitrust laws. 

In a speech at the Brookings Insti- 
tution in Washington, Reed Hundt, 
chairman of the Federal Communica- 
tions Co mmission, offered a point-by- 
^poinl rebuttal to AT&Ts rationale for 
i such a merger, laid out last week by its 
■chief executrve,R 6 bert Allen. 

\ AT&T, toe largest long-distance 
■company; has been discussing a $50 
jbillioea meager with SBC Communica- 


tions Corp., toe -largest of the nation's 
six Bell local telephone companies, for 
several months, according to executives 
familiar with the talks . While neither 
company has confirmed the talks, Mr. 
Allen had argued that a merger of AT&T 
and a Bell company could stimulate toe 
competition envisioned by last year’s 
landmark communications legislation. 

Mr. Hnndt said such a combination 
would flout the spirit of toe new law. 

It is almost unheard of for a federal 
offidal to publicly prejudge a corporate 
merger. But these are extraordinary 
fiiwfts in Washington, where toe top 
antitrust post at the Justice Department 
has gone unfilled for mouths during a 
period of unprecedented consolidation 
m the telecommunications industiy. 
And while the Federal Communications 
Commission has traditionally deferred 


to toe Justice Department on antitrust 
matters, in this case Mr. Hundt wants to 
seize toe initiative. 

“Congress, in my view, intended 
these companies to be in separate war 
rooms, planning strategies directed at 
each other’s markets,” Mr. Hundt said 
in an interview Wednesday. “Congress 
did not inlaid AT&T and toe Bells to be 
in each other's board rooms, discussing 
combinations." 

The comments came as regulators 
and lawmakers have been frustrated by 
the dearth of competition in the newly 
deregulated telephone industry. 

The legislation was supposed to un- 
leash a free-for-all between AT&T and 
the Bells but has instead led to a string of 
mammoth mergers between would-be 
rivals. 

As a practical matter, Mr. Hundt will 


lent of a deal 
between AT&T and SBC. Last month, 
he said be would leave the commu- 
nications agency as soon as President 
Bill Clinton named a successor — a 
process expected to last no more than 
six months. 

Still, his words were likely to res- 
onate through toe communications in- 
dustry, particularly in the corridors of 
AT&T and SBC. By publicly opposing 
a potential merger, some analysts said, 
Mr. Hundt could derail toe talks before a 
deal is ever signed. 

More broadly, Mr. Hundt has set up a 
showdown with the Justice Department 
about which federal agency should set 
the agenda for antitrust enforcement in 
an era of ever more gigantic mergers. 

The department’s antitrust division 
has drawn criticism from Congress and 


some quarters of toe Clinton admin- 
istration for approving toe $22 billion 
merger of Bell Atlantic and Nynex with- 
out attaching any conditions. With this 
speech. Federal Communications Com- 
mission officials said. Mr. Hundt is 
serving notice that toe agency intends to 
seize toe initiative. 

“This is a bold move,” said Philip 
Verveer, a communications lawyer in 
Washington who, as a Justice Depart- 
ment attorney, argued toe government’s 
antimist case against AT&T in the 
1980s. “It draws lines that toe antitrust 
regulators at Justice will find tough to 
ignore." 

Mark Rosenblum, vice president of 
law and federal government policy at 
AT&T, said: “The litmus test of even 
considering a merger in telecom is 
whether that merger has the possibility 


of accelerating competition.” 

■ SBC Taking Big Charges 

SBC Communications Inc. said it 
would take charges of $1.9 billion to 
$2.3 billion in 1997, Bloomberg News 
reported from San Antonio, Texas. 

The company said toe charges woe 
connected to its April purchase of Pa- 
cific Telesis Group, from which the 
company expects to add $1 billion in 
additional profit by 2000 . 

The total includes charges of between 
$1.6 billion and $1.9 billion in toe 
second quarter. 

The company also said it was scaling 
back or halting investments in devel- 
oping video services for delivery over 
phone lines, where Lucent Technol- 
ogies Inc. and Lockheed Martin Tele- 
communications are primary vendors. 


CURRENCY & INTEREST RATES 


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WASHINGTON — The U.S. trade 
deficit in goods and services widened in 
April as exports and imports both set 
records for toe third consecutive month, 
toe Commerce Department announced 
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man recent statistics sug- 
gest the economy has cooled after grow- 
ing at the fastest pace in a decade in the 
first quarter, the trade statistics suggest 
manu facturing and consumer spending 
r emain healthy.-. 

* Trade should add to second-quarter 
growth,’’ said Cheryl Katz, an econ- 
omist at Merrill Lynch in New York. 

The optimism helped spur the Dow 
Jones industrial average to dose 5835 
points higher at 7,777.06, within five 
points of the record dose of 7,782.04 
that it posted Friday. . 

The Federal Reserve Bank of Phil- 
adelphia further fueled optimism when 
its aid its factory index rose in June far 


the sixth consecutive month, confirm- 
ing toe manufacturing strength. 

The trade deficit, which had been 
trimmed to a four-month low in March 
by record exports, swelled 7.8 percent in 
April. The deficit in goods and services 
came to $8.4 billion, up from a revised 
$7.8 billion in March. The March im- 
balance, initially estimated at $8.5 bil- 
lion, narrowed with toe help of a rise in 
sales of commercial aircraft to China. 

Exports in April continued to rise, 
edging upO.2 percent to an all-time high 
of $78.4 billion. But imports rose even 
more, up 0.9 percent to $86.7 billion. 

“Exports are showing considerable 
strength, which is particularly good 
news in the face of a strong dollar," said 
Lynn Reaser, chief economist at Barnett 
Bank 

In die months ahead, exports will 
provide a source of strength for the U.S. 
economy, said Peter Kretzmer, an econ- 
omist at NationsBank Corp. While toe 
dollar's recent rise has made American 


goods more expensive abroad, “that’s 
being balanced by toe early stages of 
economic recovery in Japan and 
Europe," Mr. Kretzmer said. “The 
likelihood is we will continue to see 
healthy growth in exports toe rest of the 
year.” 

The deficit with Japan rose 5 percent 
in April from a month earlier, to $4.8 
billion, and toe shortfall with C hina 
ballooned 33 percent, to $33 billion. 

That prompted a warning from Com- 
merce Secretary William Daley about 
* 311(1 ^jjng’s trade policies. 
“China’s market is too closed to our 
exports," he said. 

Treasury Secretary Robert Rubin and 
other U.S. officials have issued blnnt 
warnings to Tokyo recently against tak- 
ing any action to further stimulate their 


. sly, the Labor Department re- 

ported that first-time claims for stale 

See ECONOMY, Page 14 


nutem- •*: 


ft**: 


.-Mate* 1 *''. 





PAGE 14 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JUNE 20, 1997 


THE AMERICAS 


y. — - mu— —■■t-.vx-A-r.T «l||'.-pX 

I Investor’s America 


30 -Year T-Bond Yield 


i“ a y 
6 m y - 


( Dollar in Yen 


I 130 ^ 
120 

"» J F M 
1997 

'V, 

A M J 


Got a Flight? Don’t Be, Late 

U.S. Carriers Are Leaving Laggards Behind 


Trade Figures Raise 
Dollar Against the Yi 



By Edwin McDowell 

New York Tones Service 


NEW YORK — Three Milwau- 
kee-bound passengers on a stop- 
over in Phoenix, Arizona, got an 





unpleasant surprise recently after 
slaking their thirst in die terminal 



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. .... . . .. . . — . — ., - — ^-pp pr^ ffi 

iflE3 


Soum a- Bloomberg, Reuters 


Very briefly: 


Chrysler Plans to Step Up Cost Cuts 


AUBURN HILLS, Michigan (AP) — Chrysler Corp. said 
Thursday it was accelerating its cost-cutting in response to 
slower car and truck sales this year. 

The No. 3 U.S. cannaker declined to comment on a Wall Street 
analyst's report that it planned, to cut $1 billion over the next few 
years from its $4.5 billion annual capital-spending budget 
Steve Harris, a Chrysler spokesman, confirmed that the 
company had imposed a hiring freeze, cut overtime and placed 
new limits on travel. It also is looking at capital expenses that 


can be pared. The cuts are considered necessary to maintain 
profit margins during the sales slowdown. 

Maryann Keller, an analyst with Furman Selz Inc., men- 
tioned the $1 billion budget-cutting goal in a report to in- 
vestors Wednesday. She said Chrysler expected its June sales 
to be down 20 percent from a year earlier, after a 17 percent 
drop in May. 

• Hewlett Packard Co. said it would invest 100 million Irish 
punts ($150.7 million) to expand its factor in Leidip, County 
Kildare, creating 1,000 new jobs in four years. 

• Merrill Lynch & Co. will pay about $30 million to end the 
Orange County, California, district attorney's criminal in- 
vestigation of its role in the county's 1994 bankruptcy, a 
person familiar with the matter said, adding that Merrill would 
not admit any wrongdoing in the settlement 

• Rolls-Royce PLC of Britain said it- had sold its Bristol 
Aerospace Ltd. subsidiary to Magellan Aerospace Corp. of 
Toronto; Bristol makes engines for gas turbines, rockets and 
missiles. Terms of the transaction were not disclosed. 

• Texas Pacific Group, an investment firm, has expressed an 
interest in buying the luxury retailer Barney's Inc. 

• Brazil’s antitrust agency ruled that an alliance between 

Anheuser-Busch Cos. and the Brazilian brewer Cia. Ant- 
arctica Paulista must be dissolved because it hindered com- 
petition in the beer industry. Bloomberg. NYT 


cocktail lounge. Returning to the 
gate, they could only watch for- 
lornly as their plane taxied to the 
runway, having unceremoniously 
dumped their luggage in a baggage 
cart outside. 

“We made the boarding an- 
nouncement and even paged 
them,’* said Scott Sorensen, an 
America West flight attendant who 
worked the flight “In years past 
we might have waited, but we no 
longer delay flights to accommod- 
ate passengers who arrive late. ” 

Nor, all of a sudden, do most 
other U.S. airlines. In feet, if die 
airlines deliver on their recent 
promises — or threats — not only 
will latecomers increasingly find 
the gates shat in their faces, but so 
will passengers who arrive at what 
used to be considered on time. 
United Airlines, for example, re- 
cently warned even passengers who 
book seats in advance to arrive at 
least 20 minutes before flight time 
or risk losing their assigned seats. 

The logic of die situation seems 
apparent 

“If a flight waits around,'’ said 
Bill Compton, a pilot and exec- 
utive vice president of operations 
for Trans World Airlines, “that 
plane will be late all day long," 
inconveniencing passengers sys- 
temwide. 

But why has it taken until now 


for airlines to get tough on strag- 
glers? The answer seems to be that, 
at long last, they can afford to. 
When they were losing more than 
$13 billion from 1990 to 1994, they 
didn't dare leave late-arriving trav- 
elers behind for fear of sacrificing 
precious revenue and goodwill. 

Now that they are enjoying re- 
cord profits — $5.1 billion over 
the past two years — and are pack 


Improving on-time 
performance has 
become an obsession 
with the airlines. 


ing passengers in at the highest 
levels in half a century, the airlines 
have the luxury of teaching the 
laggards a lesson. And they are 
finding that being sticklers for 
punctuality is good for business. 

“Until deregulation in 1978," 
Mr. Compton said, * 'about the only 
way we could compete was with a 
better meal or a better movie. We 
were like public utilities. After de- 
regulation, it took chit industry 
more than a decade to become 
competitive. TWA, along with 
eveiybody else, lost right of die feet 
that people buy an airplane ticket to 


get where they’re going on time.' 
Keeping more closely to depai 


Keeping more closely to depar- 
ture and arrival schedules also saves 
money — lots of it — that would 
otherwise be spent mopping up 
after the mess of missed connec- 
tions. Northwest Airlines, for ex- 
ample, calculates dial late arrivals 
cost it about $36 million a year. 


ro ug hly what it spends on advert- 
ising, m overtime pay and the ex- 
pense of delivering mishandled lug- 
gage, feeding stranded passengers 
and booking diem on rival airlines. 

Similarly, before Continental 
Airlines improved its on-time re- 
cord over the past two years — in 
part by offering monthly bonuses to 
employees for the earner's on-time 
performance — the carrier figured 
its poor showing was costing 56 
milh nn h month. Other airlines have 
taken similar hits — and nobody 
even tries to compute the financial 
toll of losing angry customers.' 

“It’s a disservice to passengers 
who spend a lot of money to fly 
when their airline doesn't arrive oa 
time,” said James Goodwin, 
United’s senior vice president for 
North America. 

Improving on-time perfor- 
mance — defined by the U.S. De- 
partment of Transportation as the 
percentage of flights that arrive 
within 15 minutes of the schedule 
— has become something of an 
obsession with airlines, which 
view high scores as a publicity 
bonanza. 

In feet, the industry’s r atings 
have actually been slipping 
throughout the decade — from a 
peak of 82.5 percent in 1991 to 
74.5 percent in 1996. For- the past 
two years, the figures have been 
further skewed by the govern- 
ment's decision to start counting 
mechanical delays, in the total. 

But the absolute numbers matter 
less to carriers than their standings 
against their rivals, and eveiybody 
Is scrambling to stay ahead of the 
pack. 


CiWfMtv a* fttf finorOlpurte 

NEW YORK — The dollar rose 
against the yea Thursday after the 
United' . Stales reported a smaUer- 
than-expected April hade deficit, a 
day before leaders fromihe Group of 
Seven industrial nations gathered m 
Denver. 

But die U.S. currency slumped 
against the Deutsche mark after 
comments by France's prime min- 
ister, Lionel Jospin, spurred concern 
that Europe’s planned economic and 
monetary unio n might be derailed. 
Profit-taking also played a role in die 
drop against European currencies. 

The dollar was 'quoted at 114.075 
yea, up from 1 13.650, and at 1.7235 
DM, down from 1.7333. 

The smaller- tban-cxpccted trade 
shortfall is good for the U.S. cur- 
rency because it means foreign ex- 
porters will have fewer dollars to 
sell for their own currencies when 
bringing money home. The trade 
issue is expected to be high on die 
G-7 agenda. 

” A lot of people had bough: yen in 
anticipation of a bigger deficit,' ’ said 
Albert Soria, head of foreign ex- 
change at Generate Bank, “so they 
had to nun around and sell diem.” 

Mr. Soria said he and his col- 
leagues, seeing that other traders 
were “over-saturated” with yen, 
sold the currency for dollars and 
marks Wednesday and Thursday, 
“and the dollar mil probably con- 


unue to strength®." he said. 
President Bill Cihuon, in 

terview on Japanese tekrvisfepshij 
he would prod Japan ssdt.^bu 




FOREIGN EXCHANOa 


countries at the Denver meeting to 
open their economies. 

Mr. Clinton's expression of con- 
cern aver die trade gap with Japea 


gave the yen only a momentary 
lip up,” Mr. Soria said. 


blip up,” Mr. Soria said. 

The U.S. report came a day after 1 
Japan said fts trade surplus wah the 


rest of the world tripled in May 
compared with a year earlier, while 
its surplus wife die United Sues, 
nearly doubled. 

The dollar fell against the maxi' 
after Mr. Jospin reaffirmed bis com- 
mitment to creating jobs, cutting the 
workweek and raising die minimum 
wage — proposals that could make n 
tougher tor the government to cut its 
budget deficit to qualify for Europe's . 


Hm 


m 


S ied single currency, the euro.. 

possibility raised concern die 
project might be derailed, raising 
confidence in the mark, which wig 
remain Europe's benchmark cur-" 
rency until the euro is introduced. - 
The pound rose to SI. 6487 fronr 
$1.6383 ou Wednesday. The dollar! 
fell to 1.4380 Swiss francs from! 
1.4470 francs and to 5.8180 French • 
francs from 5.8465 francs. 

(Bloomberg. AFP), 


Germans Pay $110 Million 
For a New York Landmark 


:, rt i U Smi 

..Lilli”" 

: 4 a Trail** 


eMl : 

<*•+ »■ m 

;U&«* 
Rm i&v M I 


ECONOMY: Record US. Exports Spur VPhll Street Gains 


By Charles V. Bagli 

New York Times Service 


Continued from Page 13 


unemployment benefits rose for the 
third week in a row, climbing 8,000 
to 347,000. (AP. Bloomberg) 

■ Tobacco Shares Lift Market 


U.S. stocks posted strong gains 
Hmrsday as Philip Morris Cos. and 
other cigarette makers rallied on op- 
timism that the tobacco industry 
would settle health-related suits 
linked to smoking, Bloomberg 
News reported from New York. 

Drug shares also helped spur the 
advance. 

Analysts said the rise reflected 
expectations of strong corporate 


profits and continued modest in- 
flation. In addition to the Dow’s 
strong gain, the Standard & Poor's 
index closed 8.93 points higher at 
897.99, and fee Nasdaq Composite 
Index ended 14.71 points higher at 
1,447.14. 

“The market has a lot of life in 


US. STOCKS 


it,” said Jack Church, chief invest- 
ment officer at Glenmede Trust 
“It's getting to be trite, but in- 
flation continues to surprise on the 
downside, and earnings are surpris- 
ing on the upside.” 

Spurring the Dow’s gain was 


Philip Morris, up 1% at 47%, as the 
tobacco industry considered a pro- 
posal to pay $50 billion for mis- 
leading consumers about the 
dangers of smoking. RJR Nabisco 
Holdings and UST also posted 
gains. 

Almost two stocks rose for every 
one that fell on the Big Board. 

Among dec liners, Adobe slumped 
4 ‘A to 36 after the software firm’s 
profit fell short of forecasts. 

Drug shares rallied amid opti- 
mism on sales of cholesterol drugs. 

The Treasury bond market was 
steady, wife fee yield slightly lower 
at 6.67 percent and fee 30-year 
bond's price up 3/32 at 99 1 1/32. 


NEW YORK — One Tunes 
Square, fee skinny tower feat is an 

intwnarirmfll landmar k and feat has 

been home to the New Year’s Eve 
ball drop for nearly a century, is 
being sold to German investors for 
nearly four times the price paid by 
Lehman Brothers a little more than 
two years ago. . 

T -durian Brothers, which was ri- 
diculed by man y real estate in- 
vestors when it paid $27 _5 million 
for the 22-story building, has signed 
a contract to sell the property to 
Jamestown Group, a German in- 
vestment firm, for about $110 mil- 
lion, according to three people fa- 
miliar with fee negotiations. 

The rapid escalation in price has 


little to do wife the value of the real ■ 
estate itself. Instead, the attraction is 
the building's location at the epi- , 
center of a thriving Times Square. - 
an area bustling wife new theaters, 
entertainment spots, restaurants and 
a new office building. 

'The white tower at fee south end 


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of Times Square is encased in the 
very thing that lends the area some 


very thing that lends fee area some 
of its pulsating character: 10 
massive billboards, 2 gigantic video 
screens and an electronic news zip- 
per. all visible to 20 million visitors 
annually and 250 million television 
viewers on New Year’s Eve. 

“It’s a very coveted location,”; 
said George Stonbely, president of; 
Spectacolor Inc_ a billboard com- 
pany. Hie signs on the building geo- ; 
erate about $7 million in profit an- 
nually. 


*• 

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a-mrhi.fm. 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


'LP'Iim k markets 


Thursday's 4 P.H. Close ^ 

The top 300 most active sImres SSm 

up to the closing on Wal Sheet. 

The Associated Press. 


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June t9, 1997 


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High Low Lota) Chge Optal 


Low LM Cbge OpW 


High Low Lotol Chga Oplnl 


mm -Cm* - I to 
<i 


’ ’ w 


InOUS 774IL56 781054 771509 7777.66 +5BJS 
Tim 27ZL35 774456 271597 273126 -605 


Tram 272TL35 274406 271 557 273126 
Udl 225.15 2Z7J6 22465 H6JI 
Camp 237155 2391 74 2369 JA flUJV 


Comp 237155 2391.74 2369 JA 

Standard & Poors 


raw -1 * 
i 


Indintrfcds 1 052.04 1042.T0 1042.98 


SM -VV 
164V -Vv 
5 4* 

in* »w 

2d 4* 
61V .V 
ft 4V 
7ft -ft 
1ft .ft 
61* .V 
4h -ft 
W» ft 

Ml .ft 
2ft 


S333S Otm 631*5 
197.28 19606 196.91 
1CL20 102.03 1(0.17 
094-42 887 JQ 889.06 
87208 865 JOB 866.99 


Vo4 Hft* 

66796 36V* 
61540 3M 
49664 23V* 
48702 33ft 
■vwn 406 
4*535 23ft 
38331 72ft 
36990 391* 
36157 Sill 
34301 35 
36290 26ft 
35055 13ft 
33834 72 


High Law Latat Chgu OpW 


CORN (CflOT) 

in bu mMnvan- am per budwl 
A4 9? 266ft 265 265*4 —1ft 

5*97 249ft *47 247Vt —1ft 

Dec 97 245ft 243ft 243ft —I ft 
MorfB 2S2ft 250ft 250ft -1ft 
Mav 98 256ft 355 2S5 -tft 

Join 260 257ft 23ft -2 

5wW 252 —ft 

Est.sudH HA VIM’S, sates 49J53 
Wee's open Inr 273JB3 up 417 


ORANGE JUICE (NCTN) 

1 SJM Ins- cam per Rj. 

M9T 7IJU 7S35 74.10 +030 1W54 

S* 97 7950 78. W 7855 -JUB5 12.154 

Noe 97 8100 |U» SLI5 -0.15 4J0O 

Jon 98 BUB 8180 8U0 1,965 

Es*. sates NA Wnfs-sates 2J33 
WetfsapenW 3SJB5 UP 19 


GERMAN-GOV. BUND 0-1 FEB 
DMTSUW-Olx odOOnct 
Sni97 IOiSb 10O95HXL97 -OJ7 24&I22 
Doc 97 10055 10002 10002 -Q3* 1,965 

Est ides: 171J734. Prev sNes; 177J2S 
Prev.apan bit: 247.787 oil L076 


Industrials 


46848 4041 442-74 

59IJ8 58697 59lif 


Nasdaq 


J la is 
xa sv. 
an «v 

449 11* 

154 3DU 
704 lh 
mo inv 

ns ; 

20 3d 
143 17d 

1SJ 34ft 
H74 47d 

1Z» J*» 

2670 W 
545 ft* 
573 26*t 

71! IS* 
333 Sd 
775 II 
95 mm 
333 33 

537 20V 

114* 7 

114 2)4 

191 Id 
j » im 

3031 Wd 
349 25*. 

m 4d 
3ft tk 

415 12V. 

Ite »d 
1441 7FYm 
453 26V 

IS n 
114 lid 
247 d 

W 4 
435 4U 

mo iid 
431 Ilk 
14*1 I7d 

110 6d 
95 6d 

699 14V 

•SI 1« 
XZ2 7d 
223 «* 

1981 16d 

5Z3 lid 
171 12 

412 24V 

ms M 

217 Id 
278 1'ft 
2M Id 
IS W* 
IS 9 
rti in 

9W 3PVV 

230 101* 

in to 

3109 II 

111 9d 
277 lid* 
177 72 d 
111 I Oft 
104 3d 

BU 54V 
449 lift 
48* 7V. 

SU ft 

162 I SIV 

2U 14ft 
129 21 

149 Id 
261 56ft 
97 63V 

147 22 

525 14V 

un nv 

196 13d 

431 17 

44 41ft 
103 «SM 
1441 449* 

» 7ft 
249 6 

804 14 

24J IM 

os IM 
1*71 nv 


It* .4 
Jot* .ft 
id 

lift *ft 
7 -ft 

1 -d 

16ft 4* 


74V 7 

1*1 Id 

iid inv 

iiiv iid 
lit id 
»*. 28tV 


hi* Nasdaq 


114994 3M 
113158 I59W 
111957 29 
92403 49ft 
B372S MTV* 
81796 69ft 
11672 138ft 


13 -ft 
lift 

lft .ft 


Mftk 1«1 IM a» 

M48J32 1433-36 1447.34 +14J1 
117175 1I5M1 line* *1582 
U85.11 1561X0 1500 +23A1 


* 

47ft Mft 
*1 .ft 
Aft 

Jft -ft 
36ft •«* 
15ft .tv 
Id 4* 
17ft *d 

2d -ft 

31 

2M -ft 
7 -ft 

2d 

*fi *ft 
17’ft -ft 
48ft .*V 

lift *v 
41* 

Id 

I2d 

38ft -W 
22ft -ft 
2*d -ft 
21 d Ml 
lid .ft 
ft -ft 


Id ft 
ITVd IMv 
9V» »* 

171* 17ft 
49. id 
14 I5d 
24* 23ft 
lift 10ft 
<d 7ft 
SDft «9* 
17* 17ft 
18d 17d 

id 7t« 
4ft 4H 
12 k 12ft 
ft ft 
3ft id 
I9d lid 
lft id 
ill* 17*. 
19* lift 
2 ft 2d 
■ft I 
lift 11 
6 ft 6d 
7t* TV. 
2 d 1 
Id 1 
lift lid 
7d Tft 
7d lft 
23d 239. 

7ft Tft 


6 —ft 
ft .ft 
17ft .ft 
ft ft 
17ft .ft 


190727 IfTCXn 1906.99 +1626 
94727 941.14 945X11 +1-41 


400BI 1191. 
44510 3 WV 
42373 36ftV 


351V 36 

24ft 25W 
31^ J Ht 

14411 1469V 
66 ft 49 
178129ft 
ft M 
41ft 42ft 
49ft 49ft 
131V 130V 

'I’l 

150V 36ft 


SOYBEAN MEAL K330T) 

TOO mnv- UaUcr* per Mn 
Jill 97 I75JB 27870 27320 +220 
Alio 97 252-00 24920 25028 +W0 
Sep 77 23158 23080 230BB —1.10 
Od97 771 JO 21920 21920 -120 
Dec 97 21540 21280 21140 -070 
Jon 98 71220 210.10 2IDJD -09 
Est sates HA Wetfs-Ktes 25241 
Wed's open kit 112266 up 361 


GOLDmCMX} 
lMtrovot- danm pvm o*. 

Jun97 34120 33840 34050 +120 
MVT 34130 +140 

A** 97 34220 34030 3*240 +14) 
Oct 77 34550 34320 34580 +TJD 
Dec 97 347 JO 31520 34720 +1JD 
Feh9l 3SOIO 31920 35010 +120 
AprSI 35250 +120 

■lunw moo 35100 moo +120 
AW 98 JSU0 

Ea.ides NA WnTLsaiB 37,774 
wars wen bit 174244 w 10437 


10-YEAR FRENCH GOV. BONDS (MATtF) 
FBffilOOO-ptaof lOOpd 
SyW 12926 12056 12066-022 197437 
Dec 97 97.90 97-73 9744 —034 1275 
Mar 90 97.90 97.90 9744 — 034 0 

Est sate; 142256. 

Open InJx 19091 2 off 1974 


COTTON 2 (NCTN) 

SOaaatoL-adflftpvei. 

2897 7288 7220 7242 +089 16.150 

Od97 7525 7420 7521 +025 7X377 

Dec 97 7575 75J5 7523 +033 34368 

thru 7UB 7U& 7550 +025 18)2 

7735 + 033 1.172 
Est. sales NA Wed's, saws I2JB6 
wed's open bv 67,775 oft M 


•“ • ’ *ikd ny •' -r 

V.7F trm #*t ■ 

.HI » —i ftl i*. pm. . hum 

• m : « -JM. "*■> 


* . 4*5 M ■ ■ 

n i 


ITALIAN 60VERNMENT BONO (UFFE) 


m. 200 ndBoa - pts oflOOpU 
SWW JB70 13155 1*44 -044 87361 
Dec 97 10630 10630 10529 -054 300 

Est soles: 81136. Pnv. sales: 50208 
Prav.opefi int: 90161 up 5653 
EURODOLLARS (CMB1J 
IT mnen-sisaflMpei. 

JUI97 9421 BUS 9621 35X00 

Aw 77 9418 9416 9411 9451 

Sep 97 M.T5 9412 9414 -001 550818 

Dec 97 fl.97 7172 7195 -001 431573 

Mar 98 9189 7184 9187 -0XS29O8G 

Ann 7U7 9173 9377 -001 211161 

5CP98 9169 9163 9167 -0X31 199442 

Dec 78 9158 9322 9156 -001 131724 

MarW 9156 9151 9154 -OOI W3JSI 

Jim 79 9152 9147 9151 8132® 

Sep 99 9349 9144 9347 -O01 74,132 

Dec 79 9342 9137 9340 -OOI 65790 

Estsdes HA Wats, totes 328.154 
Weft wen int ISSm up SB 
BRITISH POUND (CMBRj 
40500 pounds, s per pound 
Sep 97 12466 L6342 1.6450 34J62 

Dec 97 1.6SB 12438 urn 142 

Mo-98 1.6366 I 

Est seta NA Wed's, sales 21286 
wed's open int 34406 oil 19516 

CANADIAN DOLLAR (CMER) 
imncMora'S Perm, dir 
Sop 77 7758 2219 .7252 307)11 

Dec 97 7300 7270 JIN 15» 

Mar 98 7337 7379 7334 496 

Est. sobs NA Wed's, scries 30265 
Wed's open W 41,922 at! 25611 


SOYBEAN OR. (CBQT1 

40XM ih»- ctmnr ft 
JUt 97 2122 2382 2104 -003 

AW 97 2140 2118 2118 -086 

Sep 77 2158 2137 2138 -004 

0077 2158 2136 3136 -006 

Dec 97 2382 2150 2152 -OI2 

Jen 91 2115 2168 2168 -012 

Est. scries HA Wed's, soles 21X39 
Wed's own int 10117] up a 


ii •*• 

Tift ft 

iid +d 

7ft ft 

» 

17ft **v 

ll ft 

Id 4ft 


62029 625.96 6ZU9 +2JJ ARMFnB 
TWA 

Dow Jones Bond Horten 


20 Bomb 
loinmttes 
10 industilals 


ch». xCLLtd 

-m b. 

+0.12 Audvn 


« w iJS +^s 

15135 Tft 71* »V. +ft 

9073 8 5d SdV ft 

8095 1 3ft 12ft. i3 +lk 

7834 9m ft ft ft, 

7401 16* lft I 'ft 

6722 4ft 4 ft. ddv 

6465 Tin* 27 ft TS'dl +lft 

6329 BH 8 I 


SOYBEMB (CBOT) 

MOO bu mtebnum- aids per bushel 
Jut 77 146ft *2814 838 + 5ft 

Aw 97 778ft 760 777ft +ft 

Sep 97 TO 694 695ft -3 

Now 77 670ft 661 642ft -6 

JonM 671 663ft 665 -4ft 

Es. soles NA wedMsates 64 JOT 
Wed's open irtf 160771 up 294 


W GRADE GOPPBt (NCMX) 

2SJn0toS--cormpBr«i. 

JUI97 12230 12150 122JB +045 

Jut 97 122.90 121 JS 132.15 4020 

AW 97 12040 12010 12035 + 010 

Sep 97 12020 11920 11945 -020 

0077 117-00 11685 11685 -020 

NDV97 11110 11475 11475 -OX 

DSC 97 11420 11160 11175 -030 

Jon 98 11280 TUX 1UX —035 

PN>98 10945 -035 

Est scries NA wed's, safes 9412 
Wed'S Opened 58.955 up 267 


i*d -ft 
15+ +ft 
171* -VW 


Trading Activity 


11 -d 

« -ft 
Tte -1* 
Id -d 
Hi 4d 
149. +1* 

716 -h 
2d »d 
21* -d 

n* 


Nasdaq 


mMKN 
Dednod 
Unewnsed 
Tow erneis 
NhHW« 
He* Lows 


Ik ft 
l» -ft 
7k -ft 
Hi 

IS* »1» 
13d -d 


Id 

Tft 7ft 
91ft J1V* 
lift 15ft 
4ft 4 


7ft .ft 
21U -ft 
15ft -ft 


»d 29ft 
13d ilk 
2ft 2ft 
17k lift 
Mk 14 


1749 

837 

413 

3393 

360 

13 

1221 

131* 

846 

*8 

21 

Adrenon) 

DedUna 

ynctenoed 

Totritamas 

SStT 


1873 

14SS 

2212 

SM0 

153 

70 

1863 

2153 

1716 

5731 

173 

76 



Morket Sales 




Ow 

IS 

£1 

5 

Pm. 

236 

JM 

207 

7*7 

39 

7 

NYSE 

Amex 

Nasdaq 

/ammrasL 

n riwr 

4M 

54230 

26.95 

60X10 


hp. 

60193 

2987 

58034 


WHEAT (CBOT1 

Sjm bu iftnlnwn- cmrs Par busfni 
Jut 97 340 336 337 —IK 

Sep 97 346 342V. 343 -214 

Dec 97 359 JEW 355V, -3 

Mcrffl 363Vj 360 360ft —PA 

Est. series HA Wed's, scries 19.9*9 
Wed's open ini 13451 up 1677 


9LVER U9CMX) 

Stem ter oL-esnft par bwaz- 
JCB197 47450 47X90 47190 + 5X 
Jlri97 47MO 462.00 474JD +£IB 
SepOT «L50 461-00 479X +180 
Dec 97 48900 47051 486.10 +£00 
Jw98 481.10 +£00 

Mcr 98 49150 4OTX 49100 +5.W 
MOV98 497.20 +£3D 

4898 9140 +£53 

Esf sote, NA Wed'S, scries 20,110 
Wed's open int B9J87 off 668 


Livestock 


CATTLE (CMERI 
teMMIbS^ ent oeret 
Jun97 65X 6490 6497 

AW 97 6435 6370 6172 

0097 C7X 6647 6462 

□K 97 6987 6940 6945 , 

Feb 98 7085 7040 9R40 

Apr 98 72X 72X 7152 

E P. sates 13X6 Wed'S, series 
Wad's wen int 92412 off 2M 


PLATINUM CNMER) 

* rrw ot- dariare per boy Of. 

J497 61 £00 4ttfe.H0 41170 +£80 
0097 400 JM 39280 398.71 +180 
Jan 98 392X 39000 391X +IX 
Esr-sote HA weers-sotes 1527 
Wed's open iitf 17850 aft 576 


NEATWCOiL (NMER] 

0480 Obk C*nl* par PM 
Jed 97 S.00 SIX 51.45 +881 

Aug97 S2X SIX 51.76 — 0.14 

5ep97 Sin 5233 5151 -Rif 

0097 5405 S3X 5346 -0.19 

Not# 97 5190 5425 5436 -0.19 

Dec 97 55-70 SLQ5 S£I6 -OT9 

J0098 56.33 5530 S71 -4W 

Feb 98 5455 5586 5586 -019 

Mnr98 S5X 5501 Sfil -019 

&.«6e» na Wed'S, sates 41499 
Wed's wen int 149.984 up 5889 


—0.12 1178 
-035 40,198 
—035 21511 
.-0J0 11100 
—#X 6434 

-027 2412 

15.064 


Qott I 

LONDON METALS (LME) 

Derilos per medic tan 
AJmNpb* (High Grade) 

Swri 1567X10 I56OO0 IS69XB 
Faiwcml 159OJ0O issnxw 159400 
Cewar CMtedu (Mgh Grade) 

Sped 27DBXB 2711 XW 2702X30 
fOftrert 2593.00 259400 2S97X 


6BtMAN MARK (CMER) 

U34D0 mofte. t per m* 

Sep 97 5M5 4794 5843 
Dec 77 £884 £833 £881 
MO-98 £720 

Est. scries NA. Wed's, sdes 49457 
wed's open bit 66,905 Off 29639 


UfiHT SWEET CRUDE (NMER) 

14M btri.- Aten Per bbt 
Jill 97 19 JH 1&S 1140 — 0.19 

AW97 I9J4 1880 1BJD -089 

Sep77 19X 1197 19.00 —CLIO 

Oct 97 WX 19X 19.18 -005 

Nw97 W82 NX 19X -0JB 

Ctec77 WJ1 »a IW3 -007 

Jm» I9£4 19 J5 19,37 -R07 

FW98 1983 19 A3 19.40 -W 

thru 19.52 1945 1945 't.03 

AorX W£* 19.42 194 2 -CBS 

EM- scries NA. Wed’s, scries 117874 
Wed's open lm 403X4 up 1023 
NATURAL. GAS MMBU 
10 JM mm btu*s. f par mm btu 
Jut 97 1245 1131 1271 

Aw 97 1257 1133 1233 

Sep 97 1240 1165 1225 

Od97 1240 1104 1225 

New 97 2360 2305 2345 

Dec 97 £495 2440 USD 

Jon 98 1535 1480 1515 

Feb 98 2460 2410 243 

MorM 1325 2380 1300 

Apr 98 1160 1145 IIS 

Est. series NA Weds, seta 22312 
Wed's Open inf 199438 UP 603 


bm mm'-* m m) 
' iff J* 

.-•* C 3.’ « iff 

£ :r f. f : , l 

JT-* t 'XOf 

■ >■ - v&f. Ttcft 


Hi 


* ' «-N f 

i iFl 


JAPANESE YB1 (CMBU - 
12J mBian *wn. I par HQ vwi 
Sep 97 8MB 8852 8X5 
DOC 97 £004 8988 £007 

MorfS £120 £090 £120 

Est scrips HA Wed’s, scries 51989 
WtecfSownbit 5240 off 11773 


1ft -ft 
9k ft 
Ik ft 
rift -d 
JSriV -V 
IM -d 


iid lid 
7ft 2d 
IM IM 
7d 4k 
1ft I 


11k X* 

2d -** 

13k +!* 


d 

»d -lft 
9ft -d 


lift -ft 
17k ♦■* 

Wm ft 


Mr ft 

SriV 2SB 
2ft M 
Wl B9d 
57ki S 6ft. 
lift 19k 
16ft IM 
Zft 21*1 


V, 

2Pft +VU 
2d ft 


Premium Oil n 
Premlim USTr 


IM -ft 
16k +V* 


12 -cS 

54ft -ft 


Ik 

,r* a 


iid -ft 

a * 


NV -ft 
lift -d 


2251 23 

241 Bft 


m id 

344 9ft 

52 ft 

11 17 

*4 4R 

61 4ft 

£ *£? 

239 ft 

9073 6 

tm am. 

6722 4h 

VBS h 

M 4d 

MN 1ft 

HD SU 

267 IM* 
ZB Id 

191 t* 

as 21 '6 

191 ill 

711 4d 


lft ft 

17 tk 1 Ik 
lb ft 

5d 

4 M 

18d 1W 
40d Tft 

n 

ID ft 
12k 12 

ltd 16k 

ISd IM in 

a Su a 

sr: 

121* 17 n 

lft Sft 

n» nv 

IN* 10k 

7d M 
lift lid 

I6d If 

26d Z5ft 

t 1ft 

l«i Ik 

9ft 
... 41* 

9ft 7d 
5d 5 
Ilk 17*1 

IT* 17k 

ih 4k 


40ft ft 
5ft ft 


Dividends 

Company Per Amt Rec Pay 

IRREGULAR 

AlPance AlIMKt _ 4123 6-27 7-11 

Capffal World Bd _ 32 6-20 6-23 

Fs! Premium Oflg -£265 630 630 
Fst Premium U5Tr . 83 MD 630 

Grove Property - ,189 MO 7-16 

STOCK SPLIT 
Air Express 3 (or 2 snfft 
Wesflanco Inc 3 torz^fll. 

REVERSE STOCK SPLIT 
Crascte RE Equff i-10tti of a Mare of Cres- 
cent Opera for each shore hotd. 

C j*!« Corp i share of Griffin L«d & Nurv 
ertes tor each shore held. 

Trans Globed Svcs 1 tor 6 reverse spiff. 
INCREASED 


Goinpony 

Air Express n 
Cower Bncp 
HoBaw Inca g 
Second Bncp OH n 
United NtlSnn 


Per Amt Rec Pay 

- .05 B-fl 8-29 

- JS 7-14 84 

-.1282 630 7-15 
> .12 7-15 7-31 

. .15 7-15 B-l 


AT&T Cap 


Birmingham 

CbSslaosoc" 0 


REGULAR 

O 33 6-30 8-1 

- 130 8-t 9-1 

O .11 623 630 
O 45 630 8-6 

• Q 4425 630 7-18 


FEB2EB CATTLE (CMER) 

30400 te- cents par to 

Aw 97 7R27 7685 77X —IX 

Sep 97 77 £5 77JXJ 77.15 -082 

Oct 97 7U7 77 X 7782 -075 

Nov 97 19X 7060 7060 -0J5 

Jan 98 79 JS 79XM 7980 -075 

McrH 7U0 7BJS 7025 -07} 

ESt. sates 3,537 WBdVariBS 1093 
Wad's open M V9J40 up 224 


613d 614V> 606ft 
626JOO 627 XB 620X10 


70 7080 706080 711 OX 
710080 718580 722000 


OunmejccSnHJ, Q ii 7-7 ?-2l 
Ed*! Inc Q J2S 7 8 7-18 


lft -It 
12 ft 

lid -k 


Fst Gc+Ji'3-io Bncp 
IpwrkhBk 
MGE ProcerfiK 
Natl Fuel Gera 


Q .18 627 7-10 

O .15 6W 7-11 

. J5 6® 7-15 

Q .11 630 7-18 

Q M 7-10 7-24 

Q X 7-2 7-11 

Q 435 630 7-15 


Excel lndwtH 
Fed One Bancorp 
Greater Bay Bntt 
Haven Bancmp 

liilliriilM 




12 ft 
Sft ft 
7ft 

•ft 

2* 

r *5 

HH -ft 


SPECIAL 

Fsl Premium Tr a _ 180 630 630 

Slone Street - 480 6-30 7-11 


Q .125 7-7 7-23 
O .145 6X 7-21 

O .15 630 7-15 

O .15 630 7-18 

Q .19 7-2 7-23 
Q 41 7-1 7-15 
Q 49 627 630 

Q JO 7-1 7-fl 
Q M 7J 7-25 
Q .16 7-3 7-18 
Q JO 8-5 615 
Q 82 7-7 7-22 
SU mm* Bncp 0 J6 7-10 8-1 

Vonguaro Wndsof S X 618 620 


NBCroifMTrii 
Nil Bncp Atosta 
PehutteCorp ■ 
Reliance Bncpi 
SMECOEnero? 
' 




HOGS-Lriari (CMBU 
408N IB6- conn per te. 

JuttT 8240 BIAS 81-92 -032 

Aw 97 BOX 19 X 7942 -081 

0097 7128 71 £5 7147 +085 

Dec 97 47.08 O.H) OJS +087 

Feh98 57J5 66.60 67.» +047 

Est. soles 9451 Wetfs. series 11,222 

WecTsopenbri 35449 up 447 


557580 558580 551080 
562580 563080 5560.00 

Id HM erode) 

137$ft 1374ft 1345ft 

1393ft 1394ft 136880 


SWISS FRANC (CMSZ) 

UMBO Irenes, « par tnonc 
Sep 97 JM3 4967 .7035 
Dec 97 7112 7061 7111 

Men- 96 7189 

Estscries NA Wetfs. scries 24862 
Web's open brt 32.19B off 16299 


High uw Chile Cbge Opht 


Financial 


MEXICAN PESO (CMER] 

■MOB mm t per peso 
sap 97 .12220 .12110 .12112 
Dec 97 -11770 .11182 .116B2 
Mar 98 .11355 .11272 .11272 

Est. iotas ha war*, sales imo 

VtacTriwenH 32AM Off 7844 


PORKBELUESiCMBRJ 
4&0BB te-eaw per b. 

JN97 83.00 8075 8142 -072 

Aug 97 8X32 80.75 81.17 >4LO 

Fehto 7170 71J8 72.02 -887 

Eat. rotas 3462 Wed's. SriB 3455 
Wad's open W 7459 up 547 


UST. BRAS (CMBU 
timHon-RKDlHOpa. 

Sap 97 9482 9480 9481 —RSI 72W7 

Dec 97 9486 -081 227 

Est. soles NA WecfLUHS 392 

Weds open Int 9X6 off 133 

1 YE. TREASURY (CBOT) 

SWUM prtn- pc* & 64tta or 100 pa 

Sep 97 10629 10614 10636 20X822 

DBC97 10603 1771 

Mcr 98 -01-01-01 

Es. rotas NA weds.u«B «X9 

Wee's apolirt 2X892 aft 3544 


3-MONTH STERLING CUPFE) 

koodoo - id* of ix pd 

Junw HA NA NA NA SRasl 

Sep 97 9387 9X04 9104 —082 IX, 935 

2SS SiJ S* 4 - ftM H&STI 

Mor98 92-77 9272 9272 -885 70841 

Junta 9270 9245 9245 — Q.BS 44752 

Septa 9246 9241 9241 -085 3X183 

Dee* 9243 9289 9160 —085 M7X 

'War 99 9243 92-59 9240 —085 2MB 

EritaWtt: 101X0. Pm. rolls: 180505 
Pm. opon JnL SH956 up 20683 


UNLEADB2GASGELHE (NMER) 

42X0 flOL cate per pof 
Jut 97 S.15 S5.90 5689 -049 27JB 

Aw 97 5680 S5J0 5545 -072 27J53_- 

Sep 97 56 15 5110 55.19 -OM 7J0J 

0097 S5J» 54.15 5421 -041 S8*l 

NCW97 5455 SX76 5376 -041 2,156. 

Dec 97 55X 5X46 5X46 -OX 4£7‘ 

Jan 98 SX90 Oil 5X51 — 0£5 2W • 

FW98 £346 -OJO 985' 

Est. scries na Wed’s, siriss 27861 

Wecfriapenfrri 81,156 up 3625 
BRENT OILOPE1 

U 4. Ooflms per barrel • tab oil 800 bousd _ 
Aog97 1797 1748 17.78 +081 1UM 

Sw97 18.12 1783 1789 -0.06 2S4CT 

'872 18.03 18.03 - 0.a 13849- 
NP<97 1874 1113 18.15—0.10 MS6- 

0^37 1841 18.19 l&22-aiO 1W» 

Janta 1841 1873 1873—0.10 7812 

P|*W N.T. NT. 1822 -ail 44ffl 

Marta N.T. NT. 1870-0.13 U® 

f* We* 3151 7. Prev. sates: 474*9 
Pm. open ML: 1 59.1 63 up 7X 1 
GASOIL (IPEJ ‘1 

UA daflan per bmpk mn - Ms of 100 kw - J 

Jul97 16073 15825 159 JO *073 2ftW ; * 
Aug 97 16275416050 161.75 ♦ ITS 144M 
Sep 97 1A4Q0 16275 16375 +W0 
0097 16675 16125 16675 +075 4391 

No» 97 16875 16740 168.25 + 075 

Dec 97 170-50 16940 17080 + 035 JWJ 

Junta 17175 17040 17175 +075 Wg- 

Feb 98 17575 >7040 17140 +025 M» ' 

Esl sate* 11371 Pm sales 1*879 
Prev. open bit.: «4»1 up 4494 


“***5 


- - 7*-*t - * 

+, ; :-2¥5iS-a 

- 

'fc >• n 

-* .t -a 48 iAau 

r. n mr- ■ * 

>* ■ m o 


V# ^ 

* ? W-jU 


*E *'«, ^ « 
- - f - ,R ip 


INITIAL 

AECPipelnesg . 32 MO 7-31 


I9IIIIWVI W -»+ — » ■ 

a-anmdb b^HTMiiriaite OBOWt per 
sbon/ADR; mmrMo hi CoMdtan funds,- 
ownontbiyr Q-guortortp 


dm ft 
17k ft 
♦ft 


A -it 


rid -ft 
7ik -ft 

V* -d 


6ft 

... A 

!9» fd 
9H 2M 
lid lljk 

Kt 

ik a N 

17d 17ft 
jl 10d 
lift lift 

!“ IR 
!R 
Ii** 


Stock Tables Explained 

Sales figures are unoffldaL Yeorffr hl^B and Inn retted B» previous §2 nwete plus the current 
irraak. hat natmelaiesitraftio day. Whereasplt or saxkrfitetteKlamaunOng to 25 percent or mam 
has been paid •« y«as Fri^kwr wm# ai nd OMdend are shown tar B» new Hocks anfy.lM«s 
ottwwbe nded rote af dMdenfe am annoai dsbuswrnm baaed an M fotod riedanSon. 
a - dMdand also extra ftj. h - wwwt rote o( fflvWmd glui stack *odwwLC- BqiHdcrttog 
dhrWMid <x - PE exceeds 998 U- dbIM. d - new yearly low. M- loss In ttw tari 12 manttis. 


COCOA (NCSE) 

■0 metric tm- S par Ion 
Julta 1603 ISO 

1595 

+44 

580 

Septa 

1653 

1686 

1639 

+38 

37,JM 

Dec97 

1684 

16Ci 

1677 

+38 

20774 

Mata 

1713 

1670 

1713 

+« 

2X472 

Mnyta 
JUt 91 

1752 _ 

1704 

WXI 

1753 

+45 

+* 

8.769 

627 


10 YR. TREASURY ICBOT] 

*100800 urln-Hs& IMS «f «0B Pd 
Sep 97 108-22 100-10 TO- II 3EL472 

Dec 97 IB-07 106-0? tOB-07 1SS 

Marta 107-25 9 

EB. roles HA Wed's, urii* 65444 
WBOrsapenM 33X155 UP 1677 


Esc rota* NA Wetfs. scries 6,954 
Wetfsapevtar 96353 off Af 


4d -d 
9ft +d 
281 

n -ft 

+ft 


o - dividend declared or paid In pneetfing 12 months, f- annual rale, increased on last 
declaration, s - dMdend in Canadian fwnda. subled to 1 S% non -residence fa*. \ ■ dhddand 
dedarod after spflt-up or stodk dteidend. i - iMdend paid this year, omittod, ttataned, or no 
action token at latest dividend mealing- A • dhrfctend declared or paid Nris year, an 
occumulaffve Issue with dhrktwids hi arrears, m • aimual rate reducad an last dedaraflon. 
n • mm issue In the past 52 weeks. The Mob-law range begins with the start of trading, 
nd - next day deffmy. p* Initial dMdincL annual rata unknown. P/E -price-earnings ratio, 
q -dosatf-end mutual hmd. r -dtvklend declared or paid In preceding 12 montha, ptosetock 
dMdend. s - slack split. Dividend begins wtth dote of spRt, sis - soles, t - dhMend paid in 
stock In preceding 12 months, esttmatadcash value on ek-dhridendaretedatitoultan data, 
a - imw yoariy Mffi. v-trodlng hoitad. «i- In banknptoy arrecelvatihlpar being rea^anlzed 
under the Bankruptcy Art or rocurthopaisumed by «idi ram panka.*Nl- when dtetrlhuted. 
wl- when IhukV ww - yrtth wwioiits- * - ex-dhridend or m-rights. nils • ex-dbtribuTtoo. 
m - wttheut WDiranti. y- etedMdend and Mias In ftilL ytd • ytaid. z - soles In fulL 


Itw +h 

lhv -ft 


12ft -ft 
lift +n 
lift +ft 

rt -ft 
lift -ft 

+ft 

ft -ft 


COFFEE C(NCSE) 

274H Ih.- cents per ft. 

-M97 19880 »2£0 I9SX *£85 

Sep 97 11180 16X73 17985 +4X 

Die 97 16125 15280 MOLTS +4X 

Marta 152-70 U4£0 15280 6105 

MOV 98 WUB MUD 149X +S8S 

Est.setai NA Wed's, rote* 11822 


US TREASURY BOMS (CBtro 
M pcMLiauuo-pte & iteascri too pat 
Jun 97 112-23 112-07 111-12 —05 19X5 

58P97 112-13 111-2# 111-06 +01 42086a 

Deeenii-x iii-is 111-25 +m 2 Sjm 

Mcrtalll-21 111-14 111-15 +01 2803 

Est. scries NA Wad's, setes 31244D 
Wed's ooen bit 676,936 up S917 


W«WJM EUROMARK (UFFE) 

DM1 raUfon-phof loopcf 
Jul97 9686 9686 9*86 UrttL 

SUP ?7 9683 9682 9682 UndL : 

Dae97 9W3 96.71 9671 UiKh. 1 

Morta 9643 «80 9680 -HOI 

Jwta 9646 9642 9642 -082 

Septa 9624 96.1V 9b. 19 JIM ■ 

Dacta 9S.98 95.92 95.92 -084 

Marta 9SJS 9S87 9387 mud 

Junta 9540 9544 9544 -884 

gri-fdlte: 91,110. Pm.rolar 91,238 
Prev.apan nti 1899823 up l.tae 


SUGAR-WORLD 11 (NC5S] 
H280Dib*.-ewrritpreBs 
JU97 1IX 11X HJ7 +081 tt.914 

0097 tut IMS IMS +082 844 S 

Mor9| 11J4 1LI7 IU3 +081 XL794 

MOV 9* 11.14 11X 11.12 +082 74M 

Es. softs NA Wadi tries 19826 
WStTseoantar 182496 up TOO 


UMR t-MDNTH (CMBU 
S3 mil Ion- mar no pa. 

JK97 9U1 9SX 54J1 28452 

Aug 97 MX 94J6 9447 -001 TlSo 

Sen 97 9434 9riJ2 9U3 iSo 

frtsatos NA Wetfi sola 19.921 
woa'jonenw 37,056 off 1Z2M 
LONG GILT (UFFE) 
mapp ■ M 8 32nd* BtlOO pd 
Junta 11485 113-28 113.16 —0-12 1865 
Septa 11M6 11382 11383 -0-12 161748 
Dec 97 NT. N.T. 112-33 -A12 0 


MwnrjHnBORuwmn 
FFO mWon - pb ol 100 pd 
5®P 97 9&56 WuSl MJ2 — 0.03 67+810 

grow 9644 96J0 Sfl -oS MW1 

MorW 9648 9643 9440 —083 31859 

Afflta 9680 9634 9634— 083 2749? 

OwW 9632 96.18 9619—003 30724 

Dec98 9681 95.96 95.96 —004 16072 

E*L trial; 47461. 

Open Int: 24X503 Nf 2827. 


Stock Indexes 

J6P00MP. INDEX (QMER) 

SSOalndtv - 

■Ain 97 9DIJD 89040 89939 +M5 
Seen 9I1J0 89980 965-90 +98> tij^- 
Dec 97 919.90 91035 919.W +1035 1W 
ep. serin NA Weds, soles 13Q.9M 
Wed's open fair 239.77] up 4596 
CAC40 (MAT1F) 

FF2Q0 per bKtex print 

■junta 27868 27138 27308 -108 . 

Julta 57710 27173 27288 -IM 

Septa 27944 £7398 574X5 — IM IMg ' 

Dec 97 N.T. NT. 27648 -IM 722 
Mar 98 28078 27048 27878 — »98 W» 
EsLrotox- 29850. 

Open bA: 69823 up 954. 

FTCEltttUFFH 

SnS? 46538 +18 2^ 

Sap 97 470X0 46800 46808 —68 SLO* 
Dacta 47258 422S8 47438 +28 28» _ . 

EsLrotec 36116 Ptw.uMuJ&Ito 
Pm. span EnL: 8UU6 off UP 




'« .‘tot rsri nm 

■- -^ril ?>»■.«* 


Aftt' 


M 

f i 


■ : e*«™t«ffu*f ■ 




Eat.HriHi 48871. Pm- rotas: 86863 
Praw. open bd.: 16Z7W p« 1349 


r" \ 11 11 [ 


HMNTH CURD LIRA 0JFPE1 

iTLlmlllon -fisoMOopet 

SWW ewT 9X43 93^3 Unch. Jl£393 

S55 2HS 5-S wSS 

Marta 9609 9X97 9197 >881 4X455 

Junta 9485 9610 9610 -Jtw XH 

Septa MSI 9617 9617 —085 21838 

Eft Writs 77898. Piw.xAh: S6625 
Prw.npaninij S9MJ1 up 6706 


Commocfity Indexes 


jy-Ftrtwea 

CRB 


IgHFinath 

Petntintm 


CtOM PmtMtt 
147BJ0 lJM.lt 

vnm ifliiTO 

15X54 15179 

742.95 34185 

ot&Hf Press. LMdtr . 


.-ft “9T » 

V -9.S 4 

fe- r *i 

il p 

•« h 


**■% ■-** »? * 



& Figures 


ar j 


Rais 

Uli* 


v 


e 


INTERNATIONAL HERALD TRIBUNE, FRIDAX JUNE 20, 1997 

EUROPE 


L3® 


PAGE 15 


£ - : 

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U«-.f£^iz 


ffe finite-*!-: -.T- 


! ^Bundesbank Agrees 
•i| To Revalue Reserve 
I Of Foreign Money 


Russian Tax Reform Advances 

Duma Passes Simplified Code, but Revisions Are Forecast 

1 

_ c«riW6r dVjrf fnw noiurits the plan Thursday as inadequaiely prepared, saying i( 

MOSCOW — The lower house of Parliament, the conflicted with dozens of existing laws. 


Investor’s Europe 


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dapiM to" Oar Saf fmai Oisfvh hex 

BONN — The German govern- 
ment and die Bundesbank said 
Thursday that they had agreed on a 
plan to revalue the central bank's 
currency reserves, ending a dispute 
over die country’s efforts to qualify 
for a single currency. 

The agreement came after the 
centra] bank last month rejected a 
plan by Finance Minister Theo 
Waigel torevalue gold reserves for a 
one-time bookkeeping profit that 1 
would lower Germany's budget def- 
icit this year and help the country 
meet the criteria for the euro. 

• Under die criteria, participating 
nations must have a 1997 budget 
deficit that is no greater than 3 per- 
cent of GDP. 

The Bundesbank and Ger man y^ 
European Union partners called the 
plan an accounting gimmick. 

Euro Is Seen 
As Lifting 
Asia Trade 

CtMfMbfC’urSh^Fn’inOispaKbn 

SINGAPORE — The pro- 
posed single European currency 
in 1999 would help Asia’s fi- 
nancial markets and increase 
trade between the two contin- 

■ ents, an international conference 

■ sponsored by ABN-AMRO 
Bank was told Thursday. 

Elizabeth Sam, deputy chair- 
man of the Singapore Interna- 
tional Monerary Exchange, said 
the single currency would sim- 

■ plify the process of managing 
' the foreign-exchange risk of 

trading with Europe. 

1 Jan Kalff, chairman of ABN- 
AMRO. said at the conference 
' that the euro would become a 
serious rival to the U.S. dollar. 

Separately. Belgium opened 
a campaign aimed at persuad- 
ing consumers and businesses 
' of the benefits of switching to 
the euro. {AFP. Reuters) 


Under the agreement worked out 
Thursday between Mr. Waigel and 
Hans Tietmeyer, the bank’s pres- 
ident, the central bank will revalue 
its currency reserves, mainly dollars, 
nearer to market value this year. 

The Bundesbank balance sheet 
rates the dollar at 1.3620 Deutsche 
marks, a rate reached on April 19, 
1995. On foreign exchange markets 
the dollar traded ai 1.7339 DM on 
Thursday. 

The revaluation would affect the 
balance sheet of the central bank for 
1997. However, the Finance Min- 
istry said profits from the transac- 
tion would be transferred to the fed- 
eral government, only in 1998. 

Although the government did not 
say how much profit the govern- 
ment intended to generate from the 
revaluation, or when it would be 
used to reduce the government’s 
debt, it is estimated that Mr. Waigel 
could enter gains of up to 15 billion 
DM ($8.6 billion) in his accounts if 
Bundesbank reserves were revalued 
at 1 -50 DM to the dollar. 

(AP. AFX . Reuters ) 

* Business Index Increases 

The Ifo economic institute report- 
ed Thursday an improvement in 
German business sentiment in May. 
providing further evidence - that 
Europe’s largest economy is on 
track for recovery, Reuters reported 
from Munich. 

Ifo said the business climate in- 
dex derived from its monthly survey 
rose to 95.3 in May from 94.7 in 
April. The modest increase was at 
the upper end of economists’ fore- 
casts. 

“It’s a good number,” said Hans- 
Guenther Redeker, an economist at 
Chase Investment Bank in London. 
“We are seeing an export-led re- 
covery gaining strength." 

Analysts also said there were 
signs of a gradual pickup in demand 
for plant and machinery, which was 
a sign of hope for a revival in do- 
mestic demand. 

[In a separate report, German fac- 
tory orders rose a revised 3.7 percent 
in April, compared with original es- 
timates of a 3.3 percent increase, 
new figures from the Bundesbank 
show, Bloomberg News reported.] 


GaatpM bf <V Svgfrtm Pofutr/gs 

MOSCOW — The lower house of Parliament, the 
Sate Duma, passed a tax code Thursday aimed at 
reversing the country’s chronic revenue shortfalls, 
but lawmakers warned there would be amendments. 

The draft tax code, introduced by President Boris 
Yeltsin's government, was adopted by 294 votes to 
80, with two abstentions. 

Members of the new reformist team in the gov- 
ernment headed by the first deputy prime ministers, 
Anatoli Chubais and Boris Nemtsov, describe the tax 
code as a critical element of an effort to stabilize state 
finances and get the economy growing. Next year’s 
budget is to be based on the new tax system. 

Tie proposed code aims to simplify the tax system 
by slashing the number of taxes to 28 from more than 
75, lowering rates, liberalizing deductions and elim- 
inating exemptions. 

* ‘By our estimates, it will become cheaper now to 
pay taxes rather than not to." Deputy Finance Min- 
ister Sergei Shatalov told deputies before the vote 
Thursday. 

The draft must still undergo two more readings, 
before going to the upper house, or Federation Coun- 
cil, and then to Mr. Yeltsin for his si gna ture. Deputies 
in die lower house said they would be considering 
numerous amendments to the draft and would vote a 
second time before Nov. 1. 

One of the proposed amendments would seek to 
protect taxpayers rights in the face of the growing 
power of the tax police. But some legislators attacked 


Private individuals will pay a 30 percent income 
tax on annual earnings of more than 60 million rubles 
(510,400) and only 1 2 percent on anything below that 
level. Russia now uses a five-grade tax system with a 
top rate of 35 percent. 

Separately, the government announced a third 
international Eurobond issue that is expected to be 
worth about $2 billion and is officially planned for 
next Thursday. The Interfax news agency said the 
lead banks for the 10-year bonds with a 10 percent 
yield would be JJP. Morgan & Co. and SBC-War- 
burg. 

The government sold five-year Eurobonds in 
November with a 9.25 percent yield that were so 
popular that the amount issued was raised to $1 
billion from an originally planned S500 million. The 
second Eurobond issue, which took place in March, 
was worth 2 billion Deutsche marks ($1.15 billion). 

(AFP, AP, Reuters) 

■ Oil Company Plans Deep Job Cuts 

The Russian oil company Komineft plans to make 
deep cuts in its work force by the end of 1997, Reuters 
reported from Moscow. 

“At the beginning of this year there were about 

18.000 people working for us,” Vitali Pinchuk, 
deputy chief executive in charge of finances, said 
Thursday. “By the end of this year, about 9,000 or 

10.000 people will be working for us.” 


Frankfurt 

DAX 

3800 ■ 

3600--- — / 
34ffl - AjkJ- 
32oo yv 
3000 jJ 

i M i~ A 7 

1997 

Exchange 

Amsterdam i 
Brussels j 
Frankfurt 1 
Copenhagen i 
Helsinki f 
Oslo < 

Won don f 

Madrid l 

Milan t 

Paris < 

Stockholm i 

Vienna / 

Zurich 1 

Source. Tetekurs 


London 
FTSE 100 1: 

4800 

4SOO - - — 
4200 /- * 

aa - • - 

®JFM 

1997 


Paris 

CAC40 

30-00' 



AEX 

BEI.-80 

QAX 

Stock Market 
HEX General 
OBX 

FTSE 100 

Stock Ex change 

MBTEL 
CAC40 
SX 16 
ATX 
SP1 


S m j j f m a m j 

1997 

Thursday Prev. 

Close Close Change 

85639 849.13 +0.88 

2345-60 £347,55 -0.08 

3,74927 3.730.27 +0.51 

569.73 588.60 +0.19 

3.125.39 3.113.27 +0.42 

637^00 632.52 +0.71 

4, 653.70 4,657.00 - 0.07 
q»M 5 77.80 +0.78 

13056 12930 +&99 

2,739.69 2,751.74 -0.44 
3,156.79 3,123.63 +1.06 
1.299.96 1,297.47 +0.19 

3.489.39 3,430.09 +1.73 

Ini.-rufi- ru: HnLI Tiihnnr 


Opel Sees Gain in Jobs Dispute 


CMfMbyOvSttfFmDapjKkrs 

FRANKFURT — David Her- 
man, chairman of General. Motors 
Coip.’s Adam Opel AG, says Opel is 
close to an agreement with the com- 
pany's workers’ council on employ- 
ment and investment in Germany. 

Speaking at the company’s an- 
nual news conference, Mr. Herman 
said, “We have had three rounds of 
negotiations with our employees, 
but we will not publicize the results 
of the discussions.” 


An Opel spokesman said an agree- 
ment could be achieved “sometime 
before autumn” on employment 
levels, future investment in Germany 
and structural cost reductions. 

At the end of 1996. Opel had 
44,695 employees, down from 
45,562 the year earlier. 

The company also announced 
that its net profit in 1996 fell 13 
percent, to 314 million Deutsche 
marks ($186 million), as increased 
competition cut into sales. 


“Even though the growth outlook 
for 1997 income looks good,” Mr. 
Herman said, “we are expecting 
neither powerful growth impulse 
nor a change in the competitive situ- 
ation. Therefore it will not be easy 
this year to reach 1996 profit" 
Separately, Volkswagen AG said 
Thursday that it had been hurt by 
weak domestic sales this year but 
that it still expected results in 1997 
to surpass those of 1996. 

(AFP. Bloomberg, Reuters l 


Suez-Lyonnaise Merger Wins Approval 


Bloomberg Nm 

PARIS — Shareholders of Ly- 
onnaise des Eaux SA approved a 
merger with Compagnie oe Suez SA 
on Thursday, clearing the last hurdle 
for the creation of a new power- 


house in the utility business. 

Suez-Lyonnaise, which will of- 
ficially come into beingon Friday, 
will be France's ninth-largesi pub- 
licly traded company, with a market 
value of about 80 "billion francs 


($13.7 billion). Jerome Mouod, 
chairman of Lyonnaise, predicted 
that the new company would earn 
more than 3.5 billion francs in 1997, 
and that it would double its earnings 
in the next five years. 


L K tlKi : 


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■ T r ' -7 - 


■.* ■_«* tV- 


WORLD STOCK MARKETS 


! . Thursday, Jioie 19 

- - , Prices In local cunandes. 

Tetekurs 

• High Low dost Free. 


Amsterdam 

Plenum: M9.13 


. ABN-AMRO 
lagn 
- An rid 
; Map Mid 
Boob Co. 

Bok Wesson 

QMcn 

EUrttscftePH 

. QSM 

• fiSfcAM* ■ 

as s. : 

83S5T 

S 3 " 

AIM 

UPBT • 

KPN ' ■ 

. SK* 

OceGrtntafi 

- - 


Rohm 
. RaJancn 
RnAncn 
Rorcnto ■ 


Uniwon 
Vends MS _ 
VNU 

MtoiUcH 


ST JO 3640 37 JO 3670 
MU0 13AJ0 13X50 137 

16050 15550 15950 156 

26140 259 JO 26150 25950 
11940 117-90 119 11850 

3750 37 JO 3750 37 JO 
99 JO 10050 10050 
41690 608.90 41350 41750 
1B8J0 

3250 31 JO 3240 32J0 
81 JO B0J0 8090 8050 
6670 63.80 6450 6440 
65J0 6470 6490 65 

103.10 10060 10250 101 

35480 34350 354 34440 

HI HELM 108.10 10250 
164 16150 16250 164 

9050 B8J0 0950 89.10 
56J0 SSJO SSJ0 5580 
4470 4350 1470 4370 
7940 

S3 S3J0 5340 
308.90 30120 307.70 30560 
251 JO 249 251 25150 

13740 13430 13440 13750 
10650 10180 10620 10460 
19850 195 19650 1964) 

18490 18130 18420 18240 
6490 6460 6490 6450 
186 JO 18620 18620 18520 
11350 11220 11350 11320 
. 485 4)0.10 40220 39950 
40050 39750 399.90 39940 
107 W440 105*0 105 

47.10 4610 4610 4640 
240 23540 238.70 23840 


)fl«h Lei 

Deutsche Bar* 9958 -9825 
DeatT**fflH 42.15 41.95 
Dresdnsr Bar* 61 JO 6040 
Freer ka 375 367 

freer lus Med 15430 153 

FdMiKnipp 352 350 

Cefie 12020 11850 

HekMbgZinf 168.10 168 

Henluri pfd 10020 99 JO 
HEW 475 470 

HodBfef 8480. 7V 

Hoechd 7045 6975 

Kontadt 628 625 

LatiraevTf 82J0 82 

Linde 1320 1310 

Uufltawo 3455 UM 
MAN 532 52850 

Mimetraann J?050 75450 
MetDHoaebM)^ 37 

AAetm 195J0 194 

MundlRuckR SSS 4900 

i&K ^ %% 

SGLCdW 225.10 22120 
Siemens UXU0 9955 

IS 1 S 

1ST 10*10 

S 001^79^ 

Voftsw wen 1256 1240 


Bangkok 


SET Mac 464J7 
. PnNfoos;4KL94 



— WW W fiffl 


i*»h- 4* 


Bombay 


14] 

133 

136 

147 

155 

138 

151 

IB 

2535 

2450 

25 

25.75 

310 

288 

294 

310 

450 

4® 

464 

446 

86 

83 

86 

87 

3*75 

2330 

2*50 

2*50 

2*75 

27J5 

an v. 

2930 

M 

90 

8530 

9530 

. 81 

7930 

81 

8130 


Thysaai 

Veto 

VEW 

V^swjgur 

Helsinki 

EmdA 

Huhhawjkil 

Kimlro 

Kesko 

MaflaA 

Meta B 

Mebo-BefloS 

Note 

NOWBA 

Orion- Yhfymoe 

Outokumpu A 

UPMKytomene 

Volmst 


9825 9175 
42.10 4175 

60.90 6GJS 

365 379 

154 K4J0 

350 

12040 11940 
168 167 

9925 9950 
470 472 

8450 7630 

69.90 6940 

62550 654 

BZ7D 82 
1310 1305 

3440 3257 
531 52850 
768 74950 
3720 3650 
195-30 19340 
4920 4910 
512 504 

7555 75-40 
33650 323 

'W-IO 191 
222 22740 
10055 10055 
1535 1 535 
955 945 

41140 41040 
10110 9955 
544 545 

799 79950 
1247121950 


High Law Qoaa Piw. 

SABnwutoS 134 132J5 132J5 11275 

S cmcn cof .4725 . 47 4725 4725 

Sosol 56' 5450 5550 5550 

5MC 20775 20650 20750 20750 

TlgwOals 7740 7725 7725 7725 


Kuala Lumpur cqaponwiwMi 

r PraileM; 10*L12 


High La* dost Prw. 


High law Qeu Prav. 


IHd Utflttes 

*40 

*28 

*34 

636 

Vsndonw Lx uts 

442 

434 

437 

442 

Vodafone 

103 

2.M 

199 

303 

Whitbread 

737 

732 

735 

734 

WHtemsHdai 

119 

3.11 

3.14 

117 

Woisriey 

*02 

497 

499 

5 

WPP Group 

235 

230 

233 

234 

Zeneca 

1935 

1U4 

1*96 

1936 


AMMBHdgs 

Gcnllng 

Md Banking 

MdlntiSMpF 

PetanasGas 

Proton 

PubflcBk 


Raton Worid 
RoRvnoni PM 
StewDartv 
TaMcamMnl 


UM tnrfneen 

TTL 

London 


1640 16J0 
1350 1130 
2750 2650 

650 6J0 

9.15 9 
12.90 1240 

358 352 

350 326 

8.15 8 
27 2675 

850 840 

1110 11.90 
1120 1140 
1870 1830 

845 855 


1640 1620 
1350 1130 
27 2650 
650 635 

9.15 9.10 
1270 1190 
358 354 
346 340 
8.10 8 
27 26.75 
845 845 

1110 1150 
12 1150 
1040 18J0 
145 110 


HEX — BtM» 311429 
PtWtoOtt 311127 


Ahber Ktdl 136 120 

Aiftto Dcfwcq 430 436 

Amdksi Watar 451 642 

Argpl 557 574 

AdaGmu 122 1.18 

AstocBrnodl 571 538 

BAA 572 555 

Barday* 1255 1174 

Baa 746 750 

BAT bid 5.91 543 

Bank ScrtteBd 358 176 

BlueQndC 427 4.14 


4730 4630 
225 223 

4840 48 

75 74 

1660 1620 
14850 147 

41 40 

14150 13750 
366 360 

197 195 

10340 10250 
122 12050 
88 8670 


4730 4630 
225 22450 
48 4870 
7440 7450 
1620 1650 
14820 14750 
41 40 

140 141 

365 362 

195 197 

10350 10250 
12050 120.90 
88 B7J0 


iw r'p >*!■ 


I- I ^ 

* 4 _ 


^ r -.um 

4-*- ^ *- 


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HhdatLmr 1 

- Hndust Pettnj ■ 

- [nd De* Bk 

- tTC 

ssssa™ 

Stole Bktadio 
■ SW AuBwftty 
Tefei Eng Lots 

Brussels 

gst, . 

..•* 

Otn/fi 
OjfMBUaa 
. - V UedntoO 

Forth AG 

; ir* 

'■ SMms 

PotKrtn .... 

... M-: 


SmmNMrMUS 

Px+rtBK: <08350 

93150 921 92625 W25 

137550 130 1363251 3732S 

442 

9850 

: 509 49125 30025 497 

312 3075D 30925 31123 
343 31850 34050 321 

34333450 339 338 

19 1725 1750 18 

44150 43175 434 44050 


Hong Kong 

& 

CatnY Pocfflc 
□v rnnnsnyo ■ 


HfitopjWH? 

■ PiMlaHi 1420189 

750 8.10 7^ 

27.90 It 21H1 
1105 1150 1330 
7225 7475 £ 

2430 2455 2450 
4130 43.90 4350 
4580 4640 4690 
3970 4070 3950 

925 955 930 


BEL-28 tadw 234540 

PnwMU 234755 

16560 16300 16500 16300 
6830 6760 6770 6750 

■ W 9700 9660 9800 

.. 3400 3310 3390 3365 

WSOO 16425 14SDQ 16450 
. IBM 1810 1835 182D 

• 7710 7650 7690 7660 

3SI0 IMS 3505 3£D 

7010 6920 7050 

3380 .3275 3380 35* 

.- 5990 5900 5970 .6000 

'14425 14300 14350 14350 
14625-U4Z5 14500 146K 
12875 17750. 12S50 12850 
«7S- 4950 «« 

9980 9780 9940 9730 

; 3420 : 3370 3370 M® 

21975 27400 21 450 22025 
14950 U875 MOO 1 4850 
114080109000 112900 113000 




HKoSgo* 15^ 

HKEJadric 3230 

HKTetocam 
H op ew a l Hdps *48 

&wn 6i| 

a «* n 

JS. 

pSSoffi 

SHK Props 91-3 
stanTS>wgs 4J0 
StnoLond Co. - -*g- 


BOC Group 1077 1066 

Boots 731 7JU 

BPBIhd 3L43 338 

BritAootp 1330 1363 

BritAInnv* 7.15 6.91 

BG • 222 217 

Brtt Land SJ3 565 

Bill ?«fcl 744 733 

BSkyB 528 5JJ7 

artt&d 161 136 

BritTEjeawi 438 '*47 

BTR IDS 1.96 

Bumtoh Costal 1033 1023 

Burton Gp 127 125 

CaOleWtaten 655 543 

codnurvSdw 53s 527 

Cart?orCoo»e 527 5.16 

Carrot Union 439 635 

Campon Gp 7.12 622 

Cournuka 345 33B 

521 524 

EtedroconroonarfSi 435 430 

EMI Group H35 1130 

IS S 

Fro totonW 136 134 

GealAcddent 9.10 SM 

SEC 158 343 

GKN 1033 1040 

GkaoWMODM llg'1245 
Granada Gp 838 S42 


830 835 
68 65 

1545 1530 
3230 3110 
1740 1675 
435 4.10 

226 225 

6075 6030 
2115 2235 


GiTOJttet 

GRE 

Grceadf Gp 

GiAiness 

GUS 

HS&Hidgs 

ia 


430 533 

274 234 

430 445 

6.10 535 
634 634 

520 576 

1841 1731 
832 832 


1825 1810 
4590 4440 
188 103 

4.19 1.15 

9025 87 

480 478 

835 8-20. 


NhJiSr* ' 1730 1635 16-95 1420 


ImpiToboCCO 410 435 

Mr as ^ 

\smzr -K a 

Lean! Gent Grp 4.19 3V 

Uayds TSBGp 6^ 631 

LuauVaHy 1® 105 

AMrtsSpwcef 5J4 524 

MEPC - *97 491 

Mercury Asnt 1336 12JB 
NaflonolGfld 118 114 
was Power ■ iW 4» 

sr* ?s & 

Norwich Union 1» 3.16 


°^«nhag« s«XSSS 

354 330 3A » W 

m £7 

•95 - 879 8B 890 
„ .437 419 424 . 421 

3470)3 ■exfirt 347000 3ASXM 

BSW" WW 238000 Moggoasra 


: 'ttsL 

WtoNonS*; 


Jakarta 

Astra Wl 
BkWttndM 
Bk Negro 
GudabgGBilt ' 

1 I i ■ 1 1 1 1 i~li 

imJDCtman 
trdotood 
butosjt .... 

TeManuPBatsi 


MOMtt* Mb: 70845 
Pra»k>iite7l«J» 

" 7100 7275 7100 
7100 3100 2150 

1525 1550 IS® 

10200 HUM 10400 
3350 3373 MX 
5475 5525 5475 

7550 75® TOO 
9*0 9460 9800 

53® 539 '5375 
39® 4000 3000 


Orange 103 199 

pjfl 622 6.10 

p™ 7.10 696 

5SS3S ■ .8' 8 

Pn**«*A. it? 


RaBtarkGp 
Rn* Group 
RadsSCdm 
Rerfland 
fiaad WJ . 


625 6.17 

342 170 

890 8JB 
347 335 

S92 5J3 






-=ac.4£* 


K - i jrr ._WW 


' SSJES. '71770 202 214 204 

^Llflhnn»-..72B 714 71120 71 820 

NtoNonUK' 725 720 7Z2 728 

%£W ■= S *9 M 

jWMM/.'M 363 314 360 

: FranWurt 

■ J : -.379 377 37740 376 

_ y. BASF SS 6185 6345 

^ ‘ * |5* nau te . Hjo bb 290 a* 

& \ NSSm-U P 71JB 7235 

. 59* ' M 68® 6930 6*25 
Mrotf. 'T . ffiSB 9170 TLX 9«UD 

' - IHB* - • '4158 -41.95 <199 <C 

. BUST aw l<M UB 1^9 

- gutatte ■ m? «*a i«j» jg 

^MdS-.-OfS 4*M *35 _48J5 

DdMkBk’ - Hus raja VBJ0 I3L0S 

»w7 9*» 


Johannesburg*"^^ 
SS 15 *33 

•FEDTSyZr, 272 269 271®. 27^0. 

■ffl" “5 28- “3 1& 5 

rr*Wtti 24 2350 23.90 Z190 

' 166J5 165 166 166 

ni*3Li K25 3165 3425 3435 

<*£ 3U3 3950 39i0 
a 21« 20J5 2W5 
103 103 10* 104 

ss S its 

-Safif TI'BW'B' 

IfcSvL* IB-96 121 -12325 -12375 

Hr 

7468 _ 74 7*M 76® 


RantokfllnWai 227 222 

E£' H * S t5 is 


RMC Group 

Rd» (tor? 


iaii 9J8 
257 252 


sat?* - iuS 

MlSaAII «! 


"MW. 


» 3 i 

.• lis ig 
gsss* tt tt 

'tssu J M 

agr—p-*. ijg l|» 

SrofttiNcphaw 1J6 >23 

SwIthKBM 10^ Wg 

ea: s 8 

ISdMT ■ ■ 8. 8 

^ 8'tt 

8 8 
T1 Group . 544 

ass ijS Jit 

uStorsma 

Utd New 744 743 


FT-SE 100:465170 
nUtMl 4A57J0 

830 132 832 
436 435 4.15 

642 649 645 

574 574 583 

1.18 131 131 

538 544 544 
*55 *59 548 
11J6 1138 1141 
740 745 744 

543 *86 . 545 
176 344 376 

4.14 432 435 

1046 1048 1076 

7-04 7.19 733 

338 141 342 

1343 1345 1343 
*91 *91 7.14 

2.17 MB Ml 
*55 543 *68 

733 737 740 

5J57 5JH 522 
146 147 1-59 

*47 *55 *5* 

1.98 242 3 

1023 1030 1023 

135 137 137 

543 *48 544 

527 533 534 

5.16 525 524 

645 *75 *77 
642 745 7.06 

338 341 345 

544 5.13 5.18 

450 *55 442 

1130 1135 1149 
637 640 640 

*53 644 *53 

144 144 146 

£38 8.96 937 

343 344 - 333 

1040 1042 M49 
1245 1242 1246 
842 846 833 

543 644 546 

244 2J1 2J2 

445 446 433 

*85 546 *90 

*54 *55 644 

576 579 578 

1741 17.78 1732 
BJ2 *54 B35 

465 *18 4» 

7.10 7.18 7.16 

237 239 241 

*33 *44 843 

244 2J4 249 

*07 *15 *14 

*01 *17 *99 

235 237 237 

524 537 *27 

*91 *97 *94 

IZJB 13 1*88 
M4 M6 M7 
*99 *m *28 
744 7.52 745 

7.14 7.17 732 

3.16 333 3.18 

179 2-01 232 

*10 *13 *16 

*96 735 6-96 

136 US 130 

*87 *87 *89 

*50 *53 *52 

*01 *06' *W 

*17 *19 4^ 

370 375. 371 

*78 846 .332 

335 337 342 

5J3 544 178 

232 233 IS 

*69 *74 . *86 

US 173 273 

938 .10.15 HUE 
232 244 157 

536 *94 *06 
IQ42 1046 1045 
*61 . *64 ..*68 
332 343 '340 

159 348 . 345 
630 1643 1632 
*55 ** 639 

154 183 IBS 

2JB 2J8 249 
730 733 73* 

235 1238 HAS 
936 1316 1031 
1J3 TJ3 US 
1048 10J1 1030 
*07 &1B M0 

*10 *18 *U 
*55 *61 AJ7 
*97 &<9 9.11 

*56 *59 *56 

174 179 341 

643 *67 648 

*02 539 547 

u* % & 

*M ’*45 1 *®' 
743 " 743 739 


Madrid 

AcmBux 

ACESA 

AaotaBarceton 

Arettrtflita 

BBv 

Bano*to 

Baa Writer 

Bcd Centro Hllp 

Ba) Poputa 

BarSoptandar 

CEPSA 

Corttoente 

FECSA . 
GcaNnturd 
Btertrolo 

Relpsa! 

Sevt&ma Elec 

letnomca 
Untoc Feneja 
Vatenc Cemant 


Balsa Mac $1239 
PrarkroR577JI 

68® 27040 26900 
1BSS 1880 1B70 

5610 5870 5870 

B100 3200 8100 

1200 11360 111® 
1495 1500 1500 
4900 25010 24820 
5000 5060 5010 
16® 31800 31580 
4400 4450 4420 

5060 5T 00 5070 
2595 2915 2900 

7560 7630 7600 

1200 11230 moo 
1330 1375 1230 
1000 32000 31400 
1800 1820 1790 

2780 28® 2825 

S390 6390 6440 

1415 14® 14® 
7600 78® 7680 
C 80 43® 4295 
1305 1315 1303 

2115 21® 2115 


Accor 902 

AGP 17*90 

AteLiauidB 949 

AfccfriAttl 665 

AaMJAP 36830 

Bwicnto 714 

BIC 

BNP 23030 

CmlPtus 1073 

Ccrrefaur 4235 

Cnstoo 29*50 

CCF 24*70 

CeMem 676 

tJtosfian Dior 92B 

CLF-DaOa Find 576 
CredtAgiteala 125110 

Danoot 97B 

Ed^utttna 643 

ErfdmloBS 
Eurodhnev 
Eurotimnel 
GrovEma 
Ham • 419.® 


LyoaEaw 

MWwflnB 


Manila 

Aycta B . 
Ay* Land 
BkPNtbii] 
CiPHoraa 
MonOa ElecA 
tMr> Bank 
Petrol 
POBa* 

PM Lang 0*1 
SmMlgudB 
SM Prime Hdg 

Mexico 

Alfa A 
Baooat B 
CemaCPO 
QtraC 

Ernp Atodoma 
GpoConoAl 

Gpo F Banner- 
Gpo Fin [rdurea 
K&aatMo: 
TetafcoCPO 
TOMaxL 


AdeonraAsOc 

BcoGanmM 

BcflFWeunBi 

BcadIRpmo 

nuuH-ji 

DcncnDu 

Credtla ttoSana 

EdUan 

ENI 

Hat 

GatundAMc 
MU 
I HA 

ttokjCT 

MeSont 

Mediobanca 

Montedbon 

OMI 

Pomrtat 

PlreH 

RAS 

Rato Banco 
S MW Torino 

SM 

Tetsatra Nda 
TIM 


PSEMtt 29(097 
PratlMK J8223S 

19JS 19 19.23 19 

24 2275 24 2230 

164 15S 162 163 

10JO 9.90 1050 920 

92 91® 93 91® 

560 565 560 SB 

770 720 740 720 

25230 250 250 25230 

855 840 850 845 

75 74 7*50 75 

7® 7JC 7M 7Si 


Beta 10600 4331® 
PmtaKOtiJS 

5150 51.® 51® 
2030 21.15 2070 
3230 32® 3225 
11® 11.92 11® 
41® 4235 <1 40 
*9 JO 50.10 4920 
M7 M7 Ml 
29® 29® 29® 
3175 32.10 3170 
119® 72040 119® 
1*60 1*74 1*52 


MIBTtaadkKTMSLOO 

PmtoKiznuo 

1570 12255 12515 122® 
1675 3570 36® 3565 

an 45® 4800 4615 

246 1210 1237 1213 

'6® 26550 27550 267® 
HOC 30® 3015 30® 
1490 8490 85® 84® 

>525 9370 9455 9300 

230 4045 6100 6)40 

12® 29400 29750 29650 
®0 '15035 15750 154® 
745 2670 2720 2490 

S90 5505 5550 5475 

'455 72® 7375 7245 
U40 10265 10290 lOfcO 
.123 1091 11M 1077 

6J0 460 462 460 

!S0 2520 2550 2545 
330 4T20 42B0 41® 
1995 1354S 137® 1 3775 
14® 191® K»® 190® 
915 11465 1173 11525 
6® 9650 97® 96® 

390 33? 

1660 S2S 5S3S 5580 


Pernod Bata 302® 

Peugeot Clt 603 

Plnautt-Print 2B62 

Promades 2208 

RentiuB 149® 

Rfflat 1720 

RJvPcgtencA 207® 

Sonofl 544 

Schnekter 316 

SEB 1085 

SGSThomson 451 

Sie Generate 639 

Sodoha 2885 

SOSatn 8« 

S-jel 3CS1® 

SynttwSabo • 719 
TnomootSF 154 

Total B 554 

liskiar 99 

Video 385 


CAG48: 2739.69 
Pn«taN2751J4 


T7*10 176 

929 942 

652 652 

361® 368® 
696 704 

955 960 

22160 229 

1059 1052 

4159 4116 
291 291 

243 24*90 
675 675 


1251 1263 
964 975 


9.1 S 9.1 S 
*45 *45 

716 726 

415 41*70 
768 776 

377 37*40 
1031 1049 

2258 2261 

1461 1507 

5 66 574 

343 34 

389® 388 

3® 298® 
587 599 

2B42 2783 

219S 2168 
14*40 14*90 
1710 1710 

205 201 

537 536 

313® 316® 
1053 1087 

445® *54 

621 636 

2851 2849 

839 842 

29*® 29*10 
713 694 

15*40 151® 
540 546 

97® 99® 
373.® 379® 


EledrotaB 
EricMon B 
Hum b 
I ncenttM A 
hWBftor B 
MoDoB 
Narribcrfeen 
PttroVU^tohn 

Sarnia B 
SUB 

S-EBonfcenA 
Skandta Fan 
Skanska B 
SKFB 

Spoitamtai A 
SndstiYpcMA 
Stem A 
Sv Honda A 
VatwB 


High Law CIom Prav. 

565 542 S6S 548 

294® 289 289® 297 

279 275 27*50 274 

72) 715 715 721 

3BB® 381 388 383 

247 241 247 Z43 

240 -235 239 236 

262 255 261® 258® 

211 208 209 208® 

228 225 226® 226 

167® 163 167 163 

82® 81 82® 82 

278 269 278 269 

369 344 345 347® 

203 196® 201® 196® 

169® 165® 167® 166® 

190 190 1W 190 

132 1 25 12*® 126 

235 2® 23*® 230 

201 198 199® 199 


Sydney 

Amcor 
ANZ Bktog 
BHP 
Band 

BrarttaM. 

CBA 

CCAmtl 
Coles Myer 
OxnaJco 
C5R 

Fosters Brew 
Goodman Rd 
ID Austro la 
LandLeate 
MUAHtfra 
Nat Aori Bonk 
Nat Mutual Hdg 
Nam Crap 
Podfic Dunlap 
Pioneer Inti 
Pub Broadcast 
Rio Ttao 
StGeapeBank 
WMC 

WlHtpocBUng ■ 
WoodridePtt 


AO Ordtariai: 269338 
PlWtaro 267X40 


*60 *49 
9® *42 

19JS 19.11 
424 *10 

2*82 2*26 
1535 1*55 
15.90 1*75 
6 M *62 
7® 7.11 

*14 537 


*59 *55 
9® 9® 
19.72 1927 
*23 *15 
2*82 2539 
15® 1*05 
1*90 1*75 
*63 *67 

7.15 7.10 
5.12 *08 


Very briefly: 

■ LVMH Moet Hennessv Louis Vuitton SA paid SI. 31 
billion to increase its slake in Grand Metropolitan PLC io 
6.3 percent, in another attempt to thwart ihe British con- 
glomerate’s merger with Guinness PLC. 

• Safeway Pl.C has set up a joint venture with Fitzwilton 
PLC to run supermarkets in Nonhem Ireland. The 50-50 
venture, Safeway Stores (Ireland) Ltd., will acquire nine 
Wellwonhs stores and four vacant sites in Nonhem Ireland 
from Fitzwilton for £65 million i S 106.6 million i and will take 
six other stores under license. 

• Moulinex SA shares rose 4 percent, to a five-year high of 1 49 
French francs (S25.60). after the French household-appliance 
maker told analysts that continued cost cutting would sustain 
future profit growth; the company earned 77 million francs in 
pretax profit In 1997. its first profit in six years. 

• Ukraine plans to jump-start its stalled privatization program 
by selling shares in 1 1 companies in early July, the deputy 
head of Ihe State Property Fund. Alexander Bondar, said 
without providing details. 

• Germany's new car registrations fell 17 percent in May 

from April, to 292.660. BUiifiiberg bnJv>- .\o» Brim n 


Sandvik to Buy U.S. Firm 

Bluumhcrg .\Vn s 

STOCKHOLM — Sandvik AB, a maker of industrial 
tools, said Thursday that it would acquire Precision Twist 
Drill Co. of the United States, the world’s leading maker 
of twist drills, for an undisclosed sum. Precision is a major 
supplier of twist drills for the aerospace and car industries, 
Sandvik said. It has annual sales of about SI 29 million. 


Jfj e Trib Index PncosasotSOOPU VewVortirurw 

Jan. J, 7532 = 100. Lorn) Ctranga %etrang* ymrlodatu 

% ciiangt 

World Index 174.73 +1.74 +1.01 +17.16 

Rogtonal IndaxM 

A&a'Padflc 128.89 40.33 + 0.26 +4.42 

Europe 180.60 +2.34 +131 +12.03 

N. America 205.40 +2.42 +1.19 +26.86 

S. America 168.50 +0.94 +0.56 +47.25 

Industrial Men* 

Capital goods 216.70 +1.75 +0.81 +26.78 

Consumer goods 197.15 +3.07 +1.58 +22.13 

Energy 205.34 -1.39 -43.67 +20.29 

finance 129.95 +1.55 +1J2i +11.58 

Miscellaneous 171.95 +2.99 +1.77 +6-29 

Raw Materials 186.79 +1.90 +1.03 +6.51 

Service 165.19 • +1.89 +1.03 +20.30 

Utiktras 152.71 +1.08 +0.71 +6.45 

The International HanUTubunaWoed Stock tnaexOtracks the U.S. doner values o> 
280 memariongBy nnstaOto stocks from 25 countries. For mom ntormaoon. a hee 
booklet s available by amt mp uThoTnb Index. 1 81 Avenue Charles da QauUe. 

92521 Nevfy Codex. France Compiled by Bloomberg Nears. 


230 

234 

239 

239 


15® 

1520 

1530 

15® 

134 

1® 

131 

131 

Mitsui Trust 

859 

843 

859 

846 

17 JO 

1754 

1254 

12® 


4610 

45® 

45® 

4130 

2735 

7*95 

2/35 

2/.I2 

NEC 

16® 

1M0 

16® 

16® 

206 

232 

234 

734 

Niton 

19® 

1920 

1930 

19® 

1835 

1835 

1833 

1835 

NKkoSec 

700 

6A0 

700 

684 

2 

1.96 

1.99 

1.96 

Nintendo 

93® 

9270 

93® 

9470 

*28 

iOV 

*25 

*14 

NtepEkfnu 

944 

927 

941 

926 

334 

335 

333 

361 

tfipponOa 

641 

626 

633 

63! 

4JU 

465 

430 

4M 

Wppon Steel 

348 

344 

344 

144 

7J4 

7.12 

734 

7.15 

t£Si Motor 

BOO 

790 

799 

796 

2S15 

2234 

ZUU 

2323 

NKK 

237 

235 

236 

737 

1U7 

BJ4 

832 

BJ7 

NaoiLHoSec 

1490 

14® 

1470 

1470 

*» 

B35 

835 

*44 

NTT 

UOQb 

1080b 

10808 

1090b 

739 

735 

737 

7.75 

NTT Data 

4710b 

4570b 

4660b 

4600b 

1IJS 

11 

1130 

113S 


. 708 

702 

706 

705 

435 

422 

429 

425 

Osaka Gas 

308 

303 

308 

305 


Sfio Paulo ""sigESSS ^'P® 1 


Modi HUM tata: 868639 
Pnvtoui: 871149 


BrodssooPM 
Bratima Pfd 
- - Pfd 


Capri 
Brirobm 
rfoubancoPfd 

■ ■-*-* fanlrtrn 
dCTVQQQS 

Pld 

taririaLoz 

SouraCna 
Tristan Pfd 
Triemlg 
Tstefj 
TrisspPM 
Urdtxmcn 
UsWnasPftl 
CVRD Pfd 


1070 1*00 
84*00 83900 

Q |IT | Mtl 

77210 72.10 
®00 IB® 

598.00 581® 

400.00 580 DO 
530® 500® 
430® 425® 
310® 298® 
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1 * 


INTERNATIONAL HERALD TRIBUNE.' FRIDA Y, JUNE 20, 1997 

ASIA/PACIFIC 


4 > 


PAGE 17 


Nomura Ex-President 

Is Indicted as Inquiry 
Into Payoffs Widens 


• fmjxM h Car Sif^ f««i Du/va Vi 

TOKYO — Prosecutors on 
Thursday indicted a former pres- 
' idem of Nomura Securities Co. who 

■ was arrested last month in connec- 
tion with a payoff scandal, officials 
said. 

Officials of the Tokyo District 
' Public Prosecutors Office said 
Hideo Sakamaki. 61. was charged 
with violating the law by making a 
payment of 49.7 million yen 
($439,000) to Ryuichi Koike, an ex- 
tortionist. or sokaiya. between Janu- 
ary 31 and June 15, 1995. 

"The authorities also served Mr. 
Sakamaki and two other former 
Nomura executives with new war- 

■ rants alleging that they conspired to 
pay Mr. Koike 320 million yen in 
cash around March 24. 1995. in ex- 
change for a pledge that Nomura's 
shareholders meeting in June of that 
year would noi be disrupted. 

Nomura said it was shocked by 

Jardine Rejects 
Accusations 
In Philippines 

Bloomberg News 

MANILA — Jardine Flem- 
ing Ltd. denied Thursday that 
■ its Philippine office, the coun- 
try's biggest brokerage in terms 
of volume, conspired with three 
other brokerages to manipulate 
the stock prices of two property 
companies. 

The Philippine Securities 
and Exchange Commission is 
investigating whether Jardine, 
SBC Warburg Securities Phil- 
ippines Inc., ING Barings Se- 
curities Philippines Inc. and 
Peregrine Securities Philip- 
pines Inc. conspired to drive 
down prices or Empire East 
Land Holdings Inc. and Mega- 
world Properties and Hol dings 
Inc. 

“We can emphatically say. 
we have neither colluded with 
other brokerages nor manipu- 
lated the prices of these two 
companies,'' said David Dod- 
• well, director of corporate com- 
munications for the Jardine. 
Fleming group in Hong Kong. 

Mr. Dodwell said Jardine 
Fleming has never boughr 
shares in either company for the 
house account. 


the fresh allegations. “'If the sus- 
picion is true, we would have to say 
we would be stunned,” a statement 
from the brokerage said. 

Payoffs to sokaiya, who extort 
money by threatening to disrupt 
shareholders meetings, have been 
illegal in Japan since 1982. 

Mr. Sakamaki's indictment could 
pave the way for financial authorities 
to decide what penalties to impose 
on die brokerage, though uncertain- 
ties remain over whether more ar- 
rests are in store. 

The affair has already led to more 
than a dozen arrests, including those 
of executives from Nomura and one 
of Japan's biggest banks, Dai-Ichi 
Kangyo Bank Ltd. 

Mr. Sakamaki resigned in March 
after Nomura admitted to illegal deal- 
ings with the extortionist, who has 
also been arrested. 

Many corporations and govern- 
ment agencies have stopped doing 
business with Nomura since the al- 
legations surfaced. 

On Thursday, Konamj Co., a 
computer-game maker, replaced 
Nomura as its lead underwriter with 
Darwa Securities Co. and Goldman 
Sachs (Japan) Ltd. 

Konami said the decision was not 
a direct result of the investigation of 
Nomura. 

Other companies, including 
Shikoku Electric Power Co. and 
Keio Teito Electric Railway Co., 
have stopped using Nomura to help 
sell their bonds. 

Central Japan Railway Co. 
dropped Nomura as lead under- 
writer, and last month, Japan's Min- 
istry of Telecommunications said it 
would stop using Nomura to man- 
age money pooled in die postal sav- 
ings and insurance system. Tokyo’s 
metropolitan government also ex- 
cluded Nomura from underwriting 
its bonds. ( AFP. Reuters. AP ) 

■ Cities to Stop Using Dai-Ichi 

' Japan’s Home Affairs Ministry 
ordered the country’s 47 prefectures 
and 12 major cities to stop using Dai- 
Ichi Kangyo to underwrite their re- 
gional government bonds, cn official 
of the ministry 's regional bond office 
said, according to Bloomberg News. 

The instruction was sent in re- 
sponse to the Finance Ministry’s 
decision Wednesday to suspend 
Dai-Ichi Kangyo Bank from under- 
writing government bonds, he said. 

The cities and prefectures sell 
roughly-2 trillion yen a year of such 
bonds to the public and 5 trillion yen 
a year through private placements, 
the ministry official said. 





Titu l nutA*'A{akr Fimc>nm* 

SK Y^S THE LIMIT — A construction crew working Thurs- 
day inside the world’s largest liquefied natural gas storage 
tank in Yokohama, Japan. Tokyo Gas Co. is planning to 
build six of the 200,000-kiIoliter underground tanks by 2010. 


South Korean Railway 
In Battle With Bechtel 

U.S. Firm Is Said to Want Bigger Role 


i^jnpdni brOi»S»gfFn*n Papul>itr\ 

SEOLJL — South Korea's high- 
speed railroad authority is locked in 
a fight with its U.S. technical con- 
sultant, Bechtel Group Inc., over an 
a trouble-prone S20 billion rail link 
between Seoul and Pusan, the coun- 
try's second city. 

The Korean railway authority de- 
clined to elaborate on Bechtel's 
stand, but the Yonhap news agency 
said the U.S. company wanted ah 
expanded role in design, construc- 
tion and inspection. The authority 
has acknowledged that a contract 
renewal with Bechtel has been 
delayed because of die company’s 
demand for a greater role. 

A spokesman for the Korean rail- 
road attributed the delay to “a dif- 
ference of culture and customs.” 

The ambitious government proj- 


ect to build a 412-kilometer (255- 
mile) high-speed railway has run 
into problems because of misman- 
agement and shoddy construction 
work by Korean firms, officials say. 
The cost was originally estimated at 
$12 billion, but it rose to S20 billion 
because of a two-year delay in the 
work. 

Wiss. Janney Elstner Associates 
Inc., a U.S. construction consultant, 
recently concluded that 2 1 .3 percent 
of the segment of die project it in- 
spected was defective and in need of 
reconstruction or repair. 

GEC-Alsthom is to provide 46 
French-built high-speed train sets 
for S2. 1 billion for die project. The 
first set has been completed, but 
could not be delivered because the 
test segment of the rail system was 
not ready. (AFP, Bloomberg ) 


Jet Leasing 
Takes Off 
In Taiwan 

McDonnell to Hold 
20°/o Stake in Venture. 


L hv Our Suit Fnei [i »|in. h - 

TAIPEI — McDonnell Douglas 
Corp. and several Taiwan-based 
conglomerates will set up a joint 
venture to lease planes to interna- 
tional airlines, executives involved 
in the project said Thursday. 

The proposed Seanho Aircraft 
Corp., with initial capital of S200 
million, will invest SI 7.9 billion to 
buy 150 to 200 narrow-bodied 
planes to profit from the growing 
aircraft-leasing market in the Asia- 
Pacific region, the executives said. 

McDonnell Douglas and 
Taiwan's Central Leasing Co. each 
will take a 20 percent stake in the 
venture. Tong Chieh-tsun. vice 
president of Central Leasing, said. 

The consortium also will include 
a petrochemical giant. Formosa 
Plastics Group; two life-insurance 
companies. Cathay Group and Shin 
Kong Group; the banking conglom- 
erate Koo's Group, and Central In- 
vestment Corp.. run by Taiwan's 
governing political party. 

McDonnell Douglas will be in 
charge of marketing and mainten- 
ance operations, and the local mem- 
bers of the consortium will arrange 
for capital, they said. The venture 
plans to cater to the Chinese and other 
Asian markets where demand for 
passenger jets is expected lo soar. 

The planned company might be 
registered in I ax-free Singapore or 
Ireland unless Taiwan is willing to 
offer preferential tax treatment for at 
least nve years, the executives said. 

Taiwan’s deputy economics min- 
ister. Yin Cbi-ming. said authorities 
were considering the venture’s re- 
quest for tax incentives. 

Local newspapers said Boeing 
Co. and several Taiwan companies 
were discussing setting up a similar 
venture. 

Taiwan Aerospace Corp.. which 
is 29 percent owned by the gov- 
ernment, also plans to form a S300 
million aircraft-leasing company 
with several local banking organi- 
zations. (AP. AFP) 

■ $17 Billion Electronics Plan 

United Microelectronics Corp. 
said it would invest 500 billion 
Taiwan dollars (SI 7.9 billion) to 
build six advanced wafer plants in 
Taiwan over 10 years. Agence 
France-Presse reported. 

The company said it would be the 
largest private project ever in 
Taiwan, creating 5.000 jobs. 


- "J 



| Investor’s Asia 

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Sydney Ail Ordinaries 

Tokyo Nikkei 225 

Kuala Lumpur Composite 


Thursday Prev. % 
Close Close Change 

14.50&49 14.20169 +2.13 

2JK&97 1,985.14 +QJJ0 

2,693,30 2,673.40- +074 

20,507.85 20,497.85 +0.05 

1,097.48 1 .088.12 +0.86 

464.77 482.94 -3.76 

770.95 773.21 4I2& 


Bangkok SET . 46 4.77 482.94 -3.76 

Seoul Composite Index 770.95 773.21 -0-29 

Taipei Stock Market Index E.63&29 8,713.49 -Q.89 

Manila PSE 2^05.9 7 2,623.35 +2.33 

Jakarta Composite Index 708.45 710.79 -0.33 

Wellington NZSE-40 240750 2.400^1 +0.30 

Bombay Sensitive Index 4,Q8tL98 4.082J50 +0.16 

Source: Telekjf S iLWroJi.-oJ HfT Jjj Tritium 

Very briefiys 

• WebTV Networks Inc. said units of Mitsubishi Electric 
Corp. and Hitachi Ltd. had signed agreements to sell its set- 
top boxes, which are used to connect televisions to the 
Intemer. in the United Slates. 

• Japan's life-insurance association will announce Friday a 
bailout plan for Nissan Mutual Life Insurance Co., which 
went bankrupt in April. 

• Broken HtH Ply., an Australia resources company, said it 
would spend 500 ‘million Australian dollars (S375.9 million) 
to expand two of its largest coal mines. 

• Hopewell Holdings Ltd., the flagship company of the 
billionaire Gordon Wu. rose 6.02 percent, or 25 cents, to 4.35 
Hong Kong dollars (56 cents), on the Hong Kong Slock 
Exchange, after press reports said a China-owned firm. China 
Everbright I HD- Pacific Ltd., might take a stake in the 
property and electricity firm. 

• Mercedes-Benz India Ltd. confirmed that India had ap- 
proved a proposal for Germany 's Daimler-Benz AG to raise its 
stake in its local joint venture' to 76 percent from 51 percenL 

• Dong- Ah Group, a South Korean construction company, 

lost its license to build steel smicmres as a penalty for shoddy 
construction of a Seoul bridge that collapsed in 1994. killing 
32 people. Bhiuntvrf. AFP 


Ansett Due to Make New Alliance 


MELBOURNE — The airline Ansen Australia, struggling 
to overcome losses from its fledgling Asian regional carrier, is 
to announce an alliance Friday with Air New Zealand Ltd. and 
Singapore .Airlines Ltd. 

Ansen said Thursday that its regional carrier, Ansett In- 
ternational, expected to post a loss of 50 million Australian 
dollars tS35 million) for the year ending June 30 and that it 
would hold a joint news conference Friday with Air New 
Zealand and Singapore Airlines. 

It is widely expected that Singapore Airlines will become an 
equal partner with News Coip. and Air New Zealand in Ansett 
Australia. The two companies jointly own Ansen, with 50 
percent shares each. 


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PACE 18 


SPONSORKD Sl < 1ION 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, JUNE 20, 1997 


SPONSORED SH< 1 H I 


THE EURO AND FINANCIAL MARKET S*' 



The summit in Amsterdam June 16-17 'induded (left to right) Ranch President Jacques Chirac, Finnish Prime Minister MarttiAhtissari, Dutch Prime Minister Wlm Kok, German 
Chancellor Helmut KoW, Queen Beatrix of the Netherlands and Prtoce Wittem Alexander of We Netherlands and British Prime Monster Tony Blair. After the sunmutj 
the fmandal markets in a few European capitals slid somewhat Thismay have been the result of local concerns like interest rate rises rather than a reaction to the 
conference itself. A strong euro looks set to proceed on schedule; now die challenge for euro-zone countries is to meet the Maastricht convergence criteria. 


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Solidarity in a 
Single Currency 

A unified monetary system will make Europe a 
stronger continent, economically and politically. 

T he agreement reached at die European Union in- 
reraovemmental conference in Amsterdam this week 
aims at keeping European Monetary Union (EMU) on 
course for its January 1999 launch. At the same time, the 
recent election results in France, skirmishes between the 
government and the central bank in Germany and the general 
disillusionment of EU citizens with austerity politics linked 
to meeting the Maastricht convergence criteria continue to 
cast doubt over die EMU timetable and criteria. 

Yet none of these concerns is new, and the basic issues of 
merging EU national currencies are die same as they were 
when die plan was devised in 1992. Moreover, much of the 
belt-tightening attributed to Maastricht in reality forms part 
of wider strategics that most European governments are 
following. These programs aim to reduce public spending in 
order to make national economies more competitive in world 
markets and to cope with spiraling social security deficits. 

Advantages on the horizon 

At a time when Europe is still feeling the after-effects of 
recession and with 1 S million people unemployed across the 
EU. many voters are more concerned about job creation and 
security than the euro. At the same time, the recent toppling 
of right-of-c enter governments in both Britain and France — ' 
die first a euro-skeptic and the second a euro-leader — - 
suggests that governments do not win or lose votes according 
§; to their views on the single currency issue alone. 

§ Against the above background, that old conundrum of • 
“ now-versus-tomorrow is a central question. The challenges 
of implementing the euro are here today: die advantages ail 
lie in the future. 

Supporters say that the euro will create a powerful new 
currency zone to compete with the U.S. and Japanese 
economies, and that it will consolidate Europe's internal 
market. Rising business volumes and more jobs should 
follow. European states will find it harder to give m to 
protectionist reflexes. 

In some cases, there could be special advantages. Ireland, 
for instance, wants to promote its adherence to foe euro as a 
way of attracting foreign investors to an English-speaking 
country. This will especially be the case if Britain does not 
join the single currency. Michael Rowe 


if. 




if- 



fc- 4 ' 




The 6 Euro Zone’ 
Takes Shape 

What are governments, banks and the securities 
industries doing to prepare for the euro? 



G reat efforts are being 
made in foe countries 
most likely to join the 
euro in foe first wave, i.e., 
those that come closest to 
satisfying the Maastricht 
convergence criteria (public 
debt at 60 percent or below of. 
GDP, deficit at 3 percent or 
below of GDP). These na- 
tions include Austria. France, 
Germany. Ireland. Luxem- 
bourg and the Netherlands. 

The diminutive Luxem- 
bourg. for instance, has some 
220 banks, nearly all of 
which are branches or sub- 
sidiaries of foreign institu- 
tions. 

"In technical terms, foe in- 
troduction of one more cur- 
rency — the euro — will not 
require any dramatic changes 
in our existing procedures.” 
says Lucien Thiel, general 
manager of the Luxembourg 
banking association. 

“In a business context,” 
he continues, “banks here are 
identifying and acting on foe 
new opportunities that will 
be created. For example, 
Luxembourg banks are in a 
good position to develop new 
pension fund products that fit 
in _ with the legislative re- 
quirements of neighboring 
countries such as France. 
Germany, Italy and Belgium. 
They are doing this by com- 
bining their existing skills in 
asset management with new 
talent brought in from the 
insurance sector. Other 
moves include the develop- 
ment of cross-border elec- 
tronic banking capabilities 
and mortgage bonds that can 
appeal to institutions looking 
ro balance their portfolios 
with low-risk assets.” 

In foe area of securities 
markets, France has been 
playing a leading role in pre- 
paring for foe euro by de- 
veloping new products and 
forging links with neighbor- 
ing exchanges. 

For instance, MATJF (foe 
French futures and options 
exchange) and the Paris 
Bourse on the one hand and 
the Chicago Mercantile Ex- 
change and the New York 


Mercantile Exchange on the 
other recently signed a tech- 
nology exchange and joint 
trading agreement The un- 
derlying aim is to carve out a 
prominent role for’ the 
Franco-American market in 
international futures and op- . 
tions by linking trading in 
different time zones. 

At the same time, the So- 
eiete de la Bourse Francaise 
is pushing ahead with its 
Euronext project which aims 
to link European exchanges, 
in a network beginning next 
year. The project involves 
creating a common techno- 
logical platform and harmon- 
izing market rules. The Brus- 
sels bourse has recently ' 
signed up, and others are said 
to be on the wav. 


No Big Bang for Britain 
Some markets are more cau- 
tious, though. 

“We do not see the growth 
of multilateral linkups 
among European exchanges 
as a likely development over 
foe next few years,” says a 
spokesman for the Frankfort 
stock exchange. “On foe oth- 
er hand, we are taking active 
steps to boost electronic trad- 
ing. partly as a way of as- 
sisting bilateral linkups with 
markets in other countries-” 
An attempt to develop a joint 
trading platform between 
Frankfurt and Paris was 
abandoned last year for tech- 
nical and political reasons. , 

Britain remains ambival- 
ent about the euro, though foe 
London Stock Exchange has 
just drawn up a European 
Monetary Union progress re- . 
port adopting a generally 
neutral stance! 

“From the point of view of 
the exchange.” says foe re- 
port “the priority is to ensure 
that companies can continue 
to raise capital at the lowest 
cost and that investors can - 
continue to manage their in- 
vestment assets in as efficient 1 
a manner as possible whether 

the U.K is in or out." ! 


Continued on page 21 






SPONSORED SECTION 


DNTERNATT0N.4X HERALD TRIBUNE, FRIDAY, JUNE 20, 1997 


THE EURO AND FINANCIAL MARKETS 


PAGE 19 


SPONSORED SECTION 


Public debt as percentage of GDP (projection for 1997) 

Finland so.? Austria 71.3 , Denmark 71.5 

United Germany Ireland 72,0 
Kingdom 65,8 j Spain 74.1 

f* 60,8 • Portugal T The Netherlands 74.5 

France 1 66.3 1 [ .Sweden 79.4 


United 

Kingdom 05-8 

» 6G.8 

_ f Portugal 
France ee.3 


Most EU countries are still struggling to reduce their public debt to 60% of GDP 
and their deficit to of GOP. 

Belgium 127.2 

' ..♦Greece toe.9 lta, y 12 ^ I • 


jj W.3' 


Deficit as percentage of GDP (projection for 1997) 


‘Denmark 0.0 


Ireland 1.2 


Sweden 

2.1 

Finland ? 

2 S3 k 


37) United ■. 
Kingdom ’ 

2.3 

Belgium 2.8 
The Netherlands 


100 • 

Portugal 2.9 » 

Austria 3.0 f 
-■ Spain 3.0 l 

E Germany 3 2 . 
Italy $2 . 

France- 3.2 


• Greece 5.2 - 


Source: OECD. 1B97 (no figures avaBabfe for Luxembou/g) 


In Frankfurt, the Future Is Here for Many Corporations 

W ell before becoming Germany’s currency, the euro rises in 1997 and 1 998. And record profits generally translate . reporting triggers a rise in asset value, improving a com 
is already benefiting companies that realize a sig- into record highs on the stock market ; . pany’s mndamental indicators and its book value. Alst 

nificant part of their sales outside Germany or that ?. profiting from the transition are bonds secured by mortgage 


W ell before becoming Germany’s currency, the euro 
is already benefiting companies that realize a sig- 
nificant part of their sales outside Germany or that 
have extensive holdings in real estate. 

Since virtually all of the companies listed on Frankfurter 
Wertpapierborse (FWB.orthe Frankfurt Stock Exchange) fit 
into one of these categories — and most fit into both of them 
— the DAX ( Deutscher Aktienindex. Germany's equivalent 
of the Dow Jones) looks set to record more all-time highs. 

Ironically, doubts about Germany's ability to meet the 
Maastricht criteria have enhanced the euro’s positive impact 
on the exchange. The controversy about the Bundesbank- 
administered gold reserves strengthened the perception that 
the new currency might weaken the Deutsche mart;. 

“A weak mark benefits Germany’s strong exporters.'' 
says the financial monthly Das Wertpapier. That applies to 
nearly all of Germany’s industrial heavyweights, whose 
export rates range between 37 percent (Hoesch-Krupp) and 
90 percent (steel mill manufacturer SMS) of total sales. 

About half of the exports arc invoiced in dollars: profits 
accruing from sales outside Germany are also denominated 
in dollars. Because the greenback’s rise has inflated their 
value. Germany's major companies — which already re- 
ported record profits in 1996 — look set to register further 


Full speed ahead , 

Major German companies like Siemens are,’ already trans- . 
bating their accounts into euros. These conversions will » 
probably also produce a rise in stock market listings, as they 
conform to international bookkeeping standards so that the \ 
value of each company is known in all countries. ; 

Led by Daimler-Benz, which has already! completed the 
process, a number of companies are overhauling their cor- 
porate accounts to accord with Anglo-American accounting • 
principles. This is a precondition for listing their shares on 
Wall Street and other exchanges. 

Many German companies have timed their overhaul to 
coincide with the euro’s debut. This is expected to provide the 
country's stock exchanges with some pleasant news. 

German companies have accumulated vast amounts of. 
hidden reserves, assets carried on their books at valuations far ' 
below their market value. A “shareholder wave" has been * 
sweeping die country, with a new focus on providing share- 
holders with top value. Thus many German .companies are 
switching to the Anglo-American practice of reporting these 
assets at prevailing market prices. Once carried out, the re- 


reporting tri gge rs a rise in asset value, improving a com- 
pany's fundamental indicators and its book value. Also 
profiting from the transition are bonds secured by mortgages 
on private homes and municipal facilities. j 

The euro is expected to give a boost to the companies listed 
on the FWB, which is part of Deutsche Borse AG, th,e 
holding company for Germany's leading exchanges trading 
in stocks, securities and futures. But what impact will the 
euro have on Germany’s exchanges? 

“The introduction of the euro will create the world’s thira- 
largest market for shares and securities. The size of this 
market will lead to an increased inflow of capital from North 
American investors, enhancing the amount of liquidity a vari- 
able to Europe's companies — and the amount of com- 
petition among them for this capital." says Rudiger von 
Rosen, managing director of the Deutsches Aktieninstitut 
e.V. (German Institute of Share Ownership). 

“The introduction of the euro will also enhance the 
amount of competition among Europe's financial centers. 
Thanks to changes in legislation and to ongoing liberalization 
and deregulation. Germany's shares and securities exchanges 
— in fact, the country’s financial community as a whole — is 
well equipped to take on this challenge." he adds. 

Terry Swartzberg 


France: Left Turn for European Monetary Union? 


F rance’s new Socialist 
government. led by 
Prime Minister Lionel 
>. Jospin, appears less enthu- 
l,! r siaxtic about the euro than the 
previous government, but 
this docs not mean that min- 
isters will throw away the 
enduring French ambition to 
play a leading role in build- 
ing a more united Europe. - 
EMU ( Economic and 
Monetary Union) and the 
euro provide an essential 
• stepping stone in this direc- 
tion. It was. after all, a French 
government that first pro- 
posed the idea of a single 
currency, in 1969. And it was 
a Socialist administration 
that signed the 1992 
Maastricht treaty committing 
France to EMU — and to the 
relatively austere road lead- 
ing to it. 

“One of the most signif- 
icant reasons for creating a 
single European currency is 
to establish a powerful zone 


with a reserve currency that 
can face up to the dollar and 
thus become more attractive 
to investors." says one ob- 
server dose to French au- 
thorities. “This has always 
been a major French preoc- 
cupation, and it is unlikely to 
change just because the gov- 
ernment changed" 

•Earlier this month, Mr. 
Jospin was quick to raise the 
social aspects of EMU at an 
EU-treaty intergovernmental 
conference in Amsterdam. 
Job creation shouldbe the top 
priority, he said, and indeed 
the European leaders agreed 
to hold another summit re- 
lated to creating jobs. The 
French government says that 
job creation and the euro in- 
troduction can be achieved 
simultaneously. 

The rejection of ■'acquis- 
itive" \9S0s values should 
not be exaggerated. In Bri- 
tain. for example. Tony 
Blairs Labour Party recently 


swept to power on a platform 
of window-dressed Thatch- 
erism. Nonetheless, the trend 
brings back into focus an 
abiding question about 
whether Europe can effec- 
tively “discover" a distinct- 
ively European alternative to 
U.S.-style capitalism. If so, 
can this alternative amount to 
anything more inspiring than 
cumbersome social legisla- 
tion and cozy cross-share- 
holdings that protect the es- 
tablished. exclude the 
outsider and stifle change? 

France is a crucial nation 
to consider with regard to 
these issues. For one thing, 
the country boasts Europe’s 
second-largest economy 
after Germany, and it is the 
world's fourth- largest ex- 
porter. For another. France 
and Germany together have 
fueled EMU’s progress. 

Yet France prides itself on 
its generous health service 
and social security/pension 


benefits — currently hotly 
contested on the grounds of 
their expense. Attempts to re- 
form these systems helped 
make President Jacques 
Chirac's first prime minister. 
Alain Juppe, very urgjopular. 
Much of the public has be- 
come concerned about gov- 
ernment cost-cutting to meet 
the Maastricht criteria. 

Nevertheless, a large 
of the French business com 
munity is actively preparing 
for the euro’s introduction a 
the beginning of 1999. Th 
finance sector in partial la 
wants to ensure that Pari 
plays a pivotal role in the nev 
currency zone. To this end, 
the Paris bourse is buildini 
strategic alliances with ex 
changes in other countries. 

A study carried out la.< 
month by the Associatio 
Fran$aisc des Trtsoriei 
d’Entreprise showed tha 
well over 50 percent of r 
900 businesses question 


had set up a special working 
group to handle the single 
currency issue. 

French banks and stock 
exchange authorities are also 
preparing for the changeover. 
Bankers, for instance, are im- 
plementing two new systems 
to meet European require- 


ments for secure automated 
settlement procedures that 
apply to large value fluids 
transfers once the euro zone 
is created. The Paris Bourse 
is putting into place the tech- 
nology required to ensure die 
changeover as soon, as the 
euro goes into effect M.R. 


Conference 
Tracks Indexing 


The European Index Conference 1997 is taking place in 
Amsterdam today. The conference — convened by the 
Amsterdam Exchanges, in association with the In- 
ternational Herald Tnbune and die Netherlander — will 
take a searching look at indexing, now vety much in the 
news among Europe's professional investors. 

Like their counterparts elsewhere in the world, these 
investors use index-related financial products to fully 
participate in the growth of the fastest-moving segments 
of shares and securities markets. Further enhancing the 
attractiveness of indexing to Europe-based investors are 
the top-to-bottpm changes now unfolding on the Con- 
tinent's shares and securities exchanges. 

In the past, each of Europe's major securities ex- 
changes had a lock on its local market, within the 
confines of local accounting, reporting and registration 
procedures — and international foreign exchange mar- 
kets. -The ups and downs of the international markets 
made being listed abroad a high-risk endeavor. 

Thanks to the European Union’s Investment Services 
Directives, the local exchanges’ procedures have been 
harmonized The euro will remove the last built-in hold 
that the exchanges have, and will thus set off a brawl for 
business amona the Continent's exchanges — and a 
restructuring of its entire securities trading sector. 

This restructuring has, in feet already begun. Via 
offshore trading terminals, enterprising exchanges are 
reaching out to professional investors located in other 
countries. The exchanges are also busy merging or 
forging working relationships with each other. 

- Behind these amalgamations is the wish to enhance 
“investor appeal” by achieving cost-cutting efficiencies 
of scale and by extending ranges of services and 
products. The former cuts foe investors’ cost of trans- 
action: the latter ensures that investors will receive 
“one-stop service." This strategy is working. Pro- 
fessional investors are increasingly gravitating toward 
these relatively low-cost fill 1-service exchanges, es- 
pecially to those providing index-related products. 

Many of the leading indexes unite the Continent’s 
corporate stars into potent packages. The indexes offer 
the chance to invest in excellence in Europe. 

One enterprising bourse is the Amkerdam Ex- 
changes. Its history . and strategy exemplify recent de- 
velopments in Europe's financial community. 

Led by its president George Metier, the AEX is the 
product of the January 1 997 merger of the Amsterdam 
Stock Exchange and the EOE-Optiebeurs, the Neth- 
erlands futures and options exchange. In its short his- 
tory. the AEX has already made a name for itself as an 
aggressive marketer of indexing products. 

“We’ve made a clear commitment to developing and 
offering index-related products to the international fi- 
nancial community." says Mr. Moller. “For that reason, 
our experiences may prove instructive to those at- 
tending the conference, which will look at indexing 
from all perspectives, including those of the companies 
being indexed and of foe professional investors." XS. 


The Euro Zone Is Taking Shape 


Continued from page 20 

The LSE already has the operational ability to cope with 
the introduction of a single currency. This is because — 
unlike most other exchanges in Europe — it operates a 
multicurrency trading platform that enables the listing and 
trading of securities in some 36 currencies. This mul- 
ticurrency capability could enable the LSE. if necessary, to 
move to the euro in stages rather than adopt the “Big Bang" 
approach Favored by most other EU markets. 


.Meeting targets 

The Amsterdam Exchanges intends to switch completely 
from the guilder to the euro from the outset, in January 
1999. believing this approach to be the most efficient. Tire 
switchover will apply both to the trading systems and to 
clearing and settlement. In addition, the country's major 
banks ha\ e indicated that they w il I be able to offer securities 
clients the choice of guilder or euro accounts from the 
start. 

In foe short term, banks and exchanges preparing for the 
euro face an array of transitional issues. EU authorities and 
central bank>, for example, are guiding the development of n 
project culled Target. This program aims to link national 
interbank settlement systems for high-value fond transfers. 

As a result, banks in some countries are having to develop 
new local systems that ensure gross settlements on operations 
of this type in accordance with Target requirements. Ireland, 
for instance, has recently established a similar system called 
RTGT. w hich became operational in March. 

Some ot the trickiest technical issues — which were 
discussed at the intergovernmental conference in Amsterdam 
this week — - concern the challenges of converting the values 
of existing instruments into euros. For example, do nominal 
share values need to be converted, and should bonds be 
redenominated? 

Ideally, new securities issued before foe euro comes into 
effect would contain an automatic conversion clause. This 
course was recently adopted by foe Ausrrian government. 
The issuance of no par value shares — suggested the AEX 
and others — can also help. 

The Ecu Banking Association bperares a European clear- 
inghouse involving some 50 international banks, and it is 



planning to compete for a larger slice of the European marke 
once the euro goes into effect The association believes tha 
this will offer a more efficient alternative to current systems 
that typically make settlements through correspondent banks 
in each country. 

“Although the position may have been different a ycaro 
two ago. there do not now appear to be significant country 
variations between the degree of preparedness of banks fo 
joining foe euro." says Gilbert Lichter. secretary general o 
foe EBA in Paris. “Interestingly, some British banks were 
amongst foe first to study the business implications." 

The Brussels-based Society for Worldwide Interbank Fi 
nancinl Telecommunication operates an international funds 
transfer network for member banks in some 150 countries. 

“We are currently amending our message formats to take 
account of the transition to the euro.” says’ Patrick Poncelet, 
SWIFT's EMU program manager. “Among other tilings, this 
involves around 16 different options for a simple funds 
transfer. Yet the adaptations required for our computer 
procedures are very modest compared to what the banks 
themselves will have to do." 

Once the euro is in effect there will no longer be any, 
exchange-rate fluctuations among participating states. All 
the other economic indicators by which national economies 
can be compared will continue to apply, however. These 
include gross domestic product growl hu interest rates on 
public debt and stock exchange performance. Investors 
might glance at the DAX figures instead of checking DM 
exchange rates, for example. If all goes according to plan, the 
single omency should nelp level out purely national dif- 
ferences in favor of an integrated European economy 

After the EU intergovernmental meeting in Amsterdam 
this week, share values in cities in Frankfurt, Paris and 
London slid somewhat But local factors such as concern 
about future government policy in France and about interest 
rate rises in Britain may be foe reason, more than foe 
Amsterdam conference itself. 

The consensus seems to be that the agreement reached in 
Amsterdam will preserve foe “hard" euro favored by Ger- 
many in preference to Ihc relatively softer approach urged by 
France, and that the creation of the euro zone will happen on 
schedule. The real test will be next year, when the EU has to 
decide which countries meet the convergence criteria. 



European banking made by WestLB 


“Tut Ei'ro vnd Fivvmcial Markets'* 

mus produce J in its aitinrn- by the Adivrtisuig Department of the International Herald Tribune 
Writers: Michael Rowe, based m Paris; Tern- Suurcbcrg. based in Munich. 
Program Director; Bill Mahder. 


The opportunities offered by 


the euro are challenging 


decisionmakers across Europe. 


WestLB is well prepared to 


help you succeed in this 


complex task. 


Based on its presence in 


most European countries. 


WestLB is one of the truly 


leading banks in Europe. 


With our competence and 


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high requirements of our 


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strategies end converting 


systems to the euro, be sure 


to benefit from our expertise. 


So no matter what your 


goals are, WestLB’s support 


means you will never find 


yourself in uncharted territory. 


For updated information about 


WestLB -and the euro, simply 


visit us on our Web site under 


httpy/www.wsstlb-com 


WestLB 


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Advertisement INTERNATIONAL FUNDS June 19, 1997 

available on Internet: http://www.iht.com/IHt/FUK/funds.htnil 


Quotntton* suppUad by fund p-oups to Rricrapal Paris (tH: 33-1 40 28 09 09) S&ViCX SpOfTSOFSCl by 

1 =or In J or i T ia tton on how to Dst your fund, tax K^ty Hour! at (33-1) 4-1 43 92 12 or E-snall : funds&Bltcam |V|m^|^V 
Quotations tor your fimde via BmaU : &*jnds®aiLcorn 



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PAGE 22 



Rain Saves Seles 


tennis Monica Seles struggled 
in cold, windy conditions Thursday 
against Brenda Schultz-MeCarthy, 
the eighth seed, before rain granted 
her a respite at the Eastbourne 
women’s grasscourt champion- 
ships. 

Seles, the defending champion 
and top seed in the traditional 
Wimbledon warm-up, was tr ailin g, 
5-7 '2-2, in the quarter-final match 
when play was halted, persuading 
organizers to postpone the quarter- 
finals until Friday in the hope of 
brighter weather. (Reuters) 


Test Play Washed Out 


cbicket Rain washed out the 
opening day of the second test be- 
tween England and Australia in 
London on Thursday without a ball 
being bowled. (Reuters) 


Italy Accepts Foreigners 


soccer The Italian soccer fed- 
eration decided Thursday ro allow 
serie A clubs to have five non- 
European Union players on their 
books next season rather than the 
three permitted now. 

But the managing director of Ju- 
ventus, Antonio Giraudo, said that 
the clubs, which were divided on an 


issue opposed by the players' and 
coaches' unions, would not be al- 


coaches’ unions, would not be al- 
lowed ro have more than three non- 
EU players on the field. 

“We did not argue, but 
struggled, yes,” said Franco Sensi, 
president of Roma. “This is an 
intermediate solution.” 

Several clubs, including Inter 
and Milan, have already lined up 
five non-EU players for next sea- 
son. Other clubs wanted limits to be 
abandoned entirely while unions 
argued that Italian players would 
Find it harder to secure jobs outside 
the lower divisions. ( Reuters ) 


Narrow Vote for Seahawks 


football Even though all the 
ballots have not been counted in the 
referendum on public funding of a 
new $425 million stadium for the 
Seattle Seahawks, a billionaire, 
Paul Allen, and local officials 
agreed to move forward with his 
purchase of the team. 

The measure was ahead by 
22,748 votes — 721 ,276 votes 15 1 
perceati to 698.528 votes (49 per- 
cent). (API 


Mascot Madness 


Manfred Stewart. 40, a profes- 
sional miniature-golf player, was 
given a 30-day suspended sentence 
and Fined $25 for punching Dia- 
mond Duck in the stomach. She is 
the mascot for the Richmond 
Braves minor league team, in Vir- 
ginia. (LAT) 




Apra>.c Fnrv.r-fVv 

Guillermo Vilas returning to 
Bjorn Borg in Prague at the 
start of the ATP Senior Tour 
event. Borg won, 5-7, 6-4 ( 10-8). 


Sports 


Bolivia Beats 
Uruguay to Win 
First Round of 
Copa America 


“The simple truth is that you cannot change the 
les in the middle of the tournament,” said Pas- 


rules in the middle of the tournament.” said Pas- 
sarelJa, who found out about the alteration when a 
reporter asked his opinion about it at a news 
conference. 

Passarella, has bad memories of the last trip to 
La Paz when Argentina was beaten, 2- 1, by Bolivia 
in a World Cup qualifier in April. Argentina had 
two players ejected and was involved in a brawl 
that held up play for 10 minutes. 

Bolivia then beat Uruguay, 1-0, to finish at the top 
of its group and send Argentina to Sucre, to play 
Peru, which beat Venezuela, 2-0. earlier in the day. 

Uruguay finished third with three points and that 
put Paraguay . which finished third in Group A with 
four points, into the quarterfinals since only the 
worst of the three third-placed teams goes out in the 
first round. 

Uruguay’s game against Bolivia showed the 
difficulties of playing at a high altitude, as the 
Bolivian players, accustomed to the thin air. won 
almost every loose ball. Julio Cesar Baldivieso's 
30th minute strike was the only goal, but the 
Bolivians dominated the game. 

After the public apathy for their first two games, 
played in a stadium barely one-third full, Bolivia 
had the backing of a crowd of 35,000 after or- 
ganizers decided to admit two fans in for the price 
of one. 

Peru, fielding a young team with a couple of 
internationals thrown in. beat Venezuela in Sucre 
with two goals by striker Paul Cominges. 

world cup Australia labored to a 2-0 victory 
Thursday over Tahiti in Sydney in a World Cup 
qualifier despite the luxury of being able to use die 
match for practice. 

Terry Venables’ s team, already assured of meet- 
ing New Zealand in two legs in the next round, 
dominated possession in their- fourth successive 
qualifying victory in the Oceania group. 

Ned Zelic, who plays for Aaxerre in France, 
gave Australia the lead with a superb first-half 
goal. Substitute Paul Trimboli scored the second 
with a header four minutes from the end of the 
game. 

Australia plays New Zealand in Auckland on 
June 28 with the return match in Australia on July 
5. The winner of that elimination series takes on the 
fourth-best Asian team for a place in the World 
Cup finals in France.(Reuters, AP) 

■ Widzew Lodz Keeps Polish League Title 

Widzew Lodz scored three goals in the last five 
minutes to gain a dramatic 3-2 victory over Legia 
Warszawa and retain its Polish league title, Reuters 
reported from Warsaw. 

Second-place Legia led after goals by Cezary 
Kucharski in the 1 1th minute and Sylwester 
Czereszewski in the 57th before Widzew trans- 
formed the match. 

In the 8Sth minute, Slawomir Majak scored 
Widzew 's first goal, then Dariusz Gesior evened the 
score three minutes later. Andrej Mikhalchuk scored 
the winner in the third minute of injury time. 

Widzew is four points ahead of Legia with one 
regular-season game remaining for each team. 


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SANTA CRUZ, Bolivia, — Bolivia, the Copa 
America host, averted a possible walkout by Ar- 
gentina by beating Uruguay to win die first round 
in Group B. 

Daniel Passarella, Argentina’s coach, had 
threatened to take his team home because of a late 
change in the rules that could have moved his 
team’s quarterfinal to high altitude at La Paz, the 
capita], to face Bolivia. 

Argentina's threat dominated the day in the 
competition, overshadowing the action on the field 
where Bolivia and Peru joined Brazil, Argentina 
and Ecuador in the quarterfinals. Paraguay also 
advanced without kicking a ball thanks to the 
intricacies of the rules. 

Argentina had tied with Paraguay, 1-1, to finis h 
second Tuesday in Group A, earning a quarterfinal 
tie against the second-place team in Group B, 
which included Bolivia. 

But earlier Tuesday, Copa America organizers 
announced that if Bolivia finished second in Group 
B. its quarterfinal would be switched from Sucre, 
Bolivia, its original venue. 

Sucre is 2,700 meters (8,850 feet) above sea 
level, only slightly higher than Argentina’s first- 
round venue, Cochbamba, but La Paz lies at 3,600 
meters and is dreaded by visiting teams. 








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THE WORLD AT HIS FEET — Thierry Henry of France dribbling away from South 
Korea’s Jae Won Sim on Thursday in a Youth Soccer World Championship match in 
Kuching, Malaysia. Henry, who plays for Monaco, the French champion, scored twice as 
France won, Brazil beat South Africa, 2-0, to keep first place in the same group. 


Big Goal for Small Town in Spain 


By Huw Richards 

Intemattenul Herald Jribitne 


The most important club soc- 
cer game in Europe this weekend 
will involve a team from a town 
of just 25,000 people. 

Modern soccer is increasingly 
focused on the big-city clubs and 
big money. More than anywhere 
else, this is true in Spain, where 
Barcelona and Real Madrid can 
pull in crowds of more than 
100.000, and a recent survey 
found 26 players with annual 
earnings of more than $ 1 million. 
Towns such as Almendralejo in 
Extremadura are not supposed to 
compete. 

You need a good map of Spain 
to find Almendralejo. a wine- 
making town dose to the Por- 
tuguese border. But the top clubs 
in Spanish soccer have all visited 
this season — FC Extremadura’s 
first in the first division. 

This weekend, Extremadura 
must win its final match at De- 
portivo La Coruna, which is third 
in the league, to have a chance of 
keeping its place in the top di- 
vision. The odds are against iL 
But defying odds and conven- 
tional logic are the dub’s spe- 
cialty. 

Most of its 73 -year history is 
typical of a small town in a re- 
gion that has not seriously in- 
convenienced the outside world 
since the sixteenth century, when 
it supplied many of Spain's im- 
perial conquisladores. 

Until this season, the highlight 
for the soccer club was half a 
dozen second-division seasons in 


the 1950s. But three promotions 
in the 1990s have taken it from the 
netherworld of the third division, 
which is divided into 17 regional 
groups, to a place alongside the 


giants of the Spanish game. 
A sense of delighted dish 


A sense of delighted disbelief 
still pervades the dub offices in 
the Francisco de la Hera stadium, 
which was totally reconstructed 
in the summer in preparation for 
life in the first division. Capacity 
was increased from 6,000 to just 
under 1 1 ,000, less than one-tenth 
(he capacity at Barcelona. 

“To see our team playing Bet- 
is in our first game here was 
unbelievable for me," said Pedro 
Nieto, the long-serving club 
president, who combines the job 
with running a wine bodega. 

The dub confirmed near-uni- 
versal pessimism about its pros- 
pects by losing its first seven 
games. Firing the manager 
would be the standard reaction, 
but not here. “We stayed calm, 
and were confident that things 
would get better." Nieto said. 
“Sack the manager? No, we im- 
proved his contract.” 

He has been rewarded for his 
patience by a remarkable revival 
since the New Year and the ar- 
rival of three Argentinians — the 
goalkeeper Navarro Montoya: 
the midfielder Basualdo, who 
played in the 1990 World Cup 
final, and the striker Walter Sil- 
vani. Mighty Real Madrid was 
held to 0-0 at the Francisco de la 
Hera, starting a run of 36 points 
from 23 games. 

The imports joined a team 
rooted in its community. Four 


are survivors from the third di- 
vision. and four come from the 
Almendralejo district. "That is 
important to us," Nieto said. “It 
shows young men in the district 
that they have a chance to play 
here as well.” 

He points to the third-division 
survivors as talismans for the 
fans, but there is nothing token 
about diem or about the locals. 
Pedro Jose, a midfielder who is 
both a veteran and a local, earned 
lavish praise from Radomir 
Antic, the Atletico Madrid coach. 
“He earns every peseta he is 
raid, gives everything on the 
field and is a great influence on 
his team-mates,” Antic said. 
“He is dedicated to his club.” 

Extremadura fans have also 
won admirers. Three thousand 
followed the team to Real Madrid 
— Real's second-largest visiting 
group this season — and made 
themselves heard against more 
than 100,000 Madrilenos even as 
their team lost, 5-0. A banner 
brandished at Atletico Madrid 
said “Almendralejo 2008" next 
to die Olympic rings. 

With no ill will to the other 
teams — Rayo VaUecano, 
Oviedo and Celta Vigo — fight- 
ing to avoid the final relegation 
place, many Spaniards hope Ex- 
tremadura wins, and avoids rhe 
drop to the second division. 

"We have become every- 
body's second team,” said 
Maria -Teresa Garcia -Lara, the 
club press secretary. 

In the words of the club video, 
that “History isn’t only made by 
the big clubs.” 


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FRIDAY. JUNE 20,1997 


With an Offer 
In Bologna, 
Will Wilkins 
Come Back? 


By Ian Thomsen 

tmerrutiiunul Herald Tnhutu- 


LONDON — Impossible as it may seem, 
Dominique Wilkins is considering a return to 
Europe. He has been offered more than S1.5 
million to play next season for Teams ysrem 
Bologna in Italy. 

A year ago, the NBA's No. 7 all-time lead- 

■ _ _ i. _ _ _ . 


w scorer was unhappy playing in Greece, 
where he argued with his Yugoslavian coach 
even while leading Panathinaikos of Athens to 
the first European Championship ever won by 
a Greek chib. Wilkins escaped on an early- 


Vantaoi Point 


morning flight before the end of the Greek 
season, blaming an Achilles injury, and was 
sued by Panathinaikos. This season, he played 
well for the San Antonio Spurs, earning the 
NBA minimum $247,500 — acceptable con- 
sidering the huge settlement he ended up net- 
ting from the Greeks on his two-year, 57 
million contract. 


At the time, the Greek/Dominiqne mat 
seemed to assure that neither he nor any other 
NBA superstar would be coming to Europe in 
the near fixture. But now Wilkins is back in 
Europe, on vacation, and happened to be in the 
neighborhood of Italy this week when he son 
of ran into the dew-pocketed owner of Team- 
system Bologna, Giorgio Seragnoli. 

Teamsystem is one of the more progressive, 
offensive-minded clubs in Europe. It was led 
to the Italian finals last year by the shooter 
Carlton Myers and two scoring-minded Amer- 
icans, Conrad McRae and Eric Murdock, both 
of whom are now free agents. 

Perhaps Wilkins is just trying to establish 
market value before signing with an NBA club 
this summer. But he isn't going to find SI. 5 
million in the NBA next season. His itinerary 
for his summer holiday is said to include Spain 
and — yes — Greece. Is it possible he would 
return there? For $2 million or $3 million, it’s 
possible. 

The Greeks have been saying that Dennis 
Rodman has already received an offer to play 
in Greece next season. That's a longshot. but if 
no NBA team will have him and professional 
wrestling isn't to his liking, he could be the 
spectacular signing that Panathinaikos craves. 
Ticket sales would increase instantly by thou- 
sands per game. Everyone would be there 
except, occasionally, Rodman. 

• The Scottish golfer Colin Montgomerie 
looks like someone who hasn’t learned what 
he can' control and what he cannot. On the 
European tour, where the crowds are small and 
gentle compared with U.S. galleries, he is 
notorious for complaining about the slightest 
noise or distraction. At the U.S. Open last 
week, where he came in second, he knocked 
the crowd noise again. But he can't go around 
thinking that 30,000 people — Americans, 
especially — are going to stop what they’re 
doing for him. 

If Montgomerie could win his first major 
tournament next month in his hometown of 
Troon — what a fantastic stoiy that would 
make — he would become the first Scot to win 
the British Open in Scotland since Tommy 
Armour in 1931. 

• From the Internet: The Filipino word for 
air is hangin, which seems to be an improved 
description for the world’s greatest athlete. 
Where else could such an important lesson be 
learned but from HANGIN — A Filipino s 
Tribute to Michael Jordan (http://www.sky- 
ineLnet^sers/maiij/jordan/index.htnd). 

• Pete Sampras has seemed bored lately. 
But that will change soon when he wins 
Wimbledon for the fourth time in five years. 

• Let’s say that (al Tiger Woods wins the 
IGrand Slam next year, (b) Jordan wins his 
sixth NBA title next season and (c) the Brazili- 
an soccer star Ronaldo leads his country’s 
team to its first World Cup on European soil. 
Who becomes the most famous, popular ath- 
lete around the world? The answer: Ronaldo. 


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FIRST ROUND. OROUP B 
Peru 2. Venezuela 0 
Bofhria 1. UraguayO 

stand Mas; Bolhria 9 points; Pen 6 
Uruguay 1 Venezuela 0. 

WORLD COP OtMUlFYHM 


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AMERICAN LEAQUE 

DALTiMofiE-Pui C Chris Holies on 15rtoy 
disabled Gst. Bought caniract of C Ttm Later 
ftwn Rochesteo IL Waved OF Erie Do* 41 
from 15- to 60rtav disabled list. 

Seattle— A nnounced retbemant d RHF 
Dennis Martirwz. 

NATIONAL LEAGUE 

CIHCIHNATI-Opttoned 2B Bret Boone to 
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Colorado- R ecalled SS Netfi Pens and 
RHP Bryan RaLor tram Colorado Springs; 
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Jason Bates to Colorado Springs. 

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Rtzza from Massachusetts Mad Dan N<- 
Asslgned Rizzo to Elmira, NY-PL 

uk AHGEUB— Agreed la terms with ra 
Glenn Davis. 

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day disabled IW. Recalled C Raul O wei 
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from NaftoOi 

PITTSBURGH — AtfNOfM) LHP Jason Lftlh; 
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baig. CL amt Sort UMe of Augusta, 5AL. 


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Sdbv 3, Lotte 0 
Nippon Ham tk Dafei 2 
Orix vs. Klntefsu. ppd, mm 


NATIONAL BASKETBALL ASSOCIATION , 

dchvsr— N amed T.R. Dunn asswto" 1 
coach. 


-w 


1 












INTERNATIONAL HERALD TRIBUNE. FRIDAY. JUNE 20. 1907 


PAGE 23 




AL Wins First Round 
Of Interleague Play 





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The Anxiilled Presi 

The first round of interleague play 
belonged to the American League — 
and the fans. 

Helped by victories by the Yankees 
over the Mets in New York and the 
White. Sox over the Cubs in Chicago, 
AL learns emerged with a 48-36 edge 
over their National League counter- 
parts. 

A sellout crowd of 56278 at Yankee 
Stadium saw the home team win 3-2 in 

BaciballRovndup 

10 innings on Wednesday. The Yankees 
won the Subway Series against the 
Mets, two games to one. “We can at 
least brag for 1 1 months or 12 months,” 
the Yankees’ catcher, Joe Girardi. 
said 

A sellout crowd of 44,204 at Com- 
iskey Park saw the White Sox win the 
deciding game of their Windy City 
rivalry with the Cubs, 3-0. “Bragging 
rights are not high on my list, but Iknow 
to Sox fans it’s extremely important, 
and that made it important to os,” said 
the White Sox manager. Terry Bev- 
ington. 

There were also sellout crowds 
Wednesday in Baltimore, Denver and 
Cleveland 

Interleague play resumes on June 30, 
highlighted by a World Series rematch 
berween the Yankees and the Atlanta 
Braves and a meeting of the two Ca- 
nadian clubs, Toronto and Montreal. 

Montreal San Francisco and Boston 
have fared the best in interleague play, 
with each team -going 5-1. Not that 
eveiyone enjoyed it. 

“I’m glad to see the American 
League get out of here," said Jeff Kent, 
the Giants’ second baseman. “I don’t 
like the pace or the way they do things. 
That’s why I wanted to come back to the 
National League.” 

While most teams reported sharp in- 
creases in attendance, die Twins drew a 
total of 46,589 for three games against 
Pittsburgh at the Metrodome. “That’s 
maybe a little disappointing, the atten- 
dance,” said the Twins’ pitcher. Brad 
Radke. But interleague play, be added, 
"is a lot of fun.” 

tMm 3, Riots 2 Tino Martinez 
broke an 0-for-21 slump with a game- 
winning single in the bottom of the 10th 

inning. 

The Yankees' starter. David Cone, 
took a no-hitter into the seventh against 
his former team. But the Mets rallied, 
tying it at 2 on Cone's balk in the 
eighth. 

Cecil Fielder and Chad Curtis 
homered for the Yankees. In the 10th, 
Paul O'Neill drew a one-out walk and . 
look third on Fielder's single. The Mets 
relief ace, John Franco, entered and 
Martinet won the lefty vs. lefty matchup 
by slicing a single to left 

■bite Sox 3, Cubs o Wilson Alvarez 
won the deciding game for the White 
Sot, pitching his first shutout in more 
than three years. Alvarez walked one 
and struck out four. Lyle Mouton hit a 
two-run double in the first inning, and 
Dave Martinez later homered for the 
second straight day while subbing for 
the injured Rank Thomas. 

Bodnars 7, Angola 5 Billy Ashley, 
Raul Mondesi and Todd Zeile each hit 
two-run homers, and Los Angeles beat 
the visiting Angels to sweep the two- 
game series. The teams will play two 
more games in two weeks at Anaheim. 

Cxpao i/Orioto* o Car I os Perez shut 
out Baltimore on eight hits, and Sher- 


man Obando broke up Jimmy Key's 
perfect game with a home run in the 
sixth inning. 

Montreal won for the 1 1th time in 12 
games and became just the third team to 
win a series from the Orioles this sea- 
son. Perez < 8-41 pitched his third shutout 
in his last four starts. 

AtMotica ii, Padre* 9 Jose Canseco 
connected twice as Oakland won a game 
of home run derby at San Diego. 

Marie McGwire hit his 26th homer 
Mid Jason McDonald broke an 8-8 tie in 
the eighth with his first in the major 
leagues. Rickey Henderson and Ken 
Caminiti homered for the Padres. Steve 
Finley had three hits and scored three 
runs, but flied out with the bases loaded 
to end the game. 

Rockies 10, Rangers 9 The Rangers’ 
closer, John Wetreland, was hit hard by 
Colorado for the second straight day at 
Coors Field. 

The Roc Ides trailed 9-6 in the bottom 
of the aintb i nnin g, but Andres Galar- 
raga hit a three-run homer and Walt 
Weiss Later drew a bases-loaded walk 
that won it Wetteland faced seven bat- 
ters and did not retire any of them. 

Blue Joys 5, Bravos 3 Carl OS Delgado 
■hit a high fly into the fog at the Sky- 
Dome, and when the ball came down it 
landed in the right-field seats for a three- 
run homer. 

Delgado connected for the. second 
straight day as Toronto avoided a three- 
game sweep by Atlanta. The home run 
came in the third inning, and the game 
was delayed for 14 minutes because of 
fog in the fourth while the retractable 
roof was closing. 

Reds s, Indians 2 Making his first start 
of the season, Cincinnati’s Mike Rem- 
Linger held Cleveland ro two hits in six 
innings. 

Royals 6, Astros 2 Jeff King enjoyed 
another big game against National 
League competition, hitting a grand 
slam in the first inning at Kansas City. 
King, who played the previous eight 
years in Pittsburgh, was 10-for-21 with 
four home runs in the Royals' six in- 
terleague games. 

Giants 4, Mariners 2 Stan Javier hit his 
third interleague home run as San Fran- 
cisco completed a two-game sweep at 
home. Seattle had been the only team in 
the majors not to be swept in a two-game 
series this season. 

Ken Griffey Jr. of the Mariners and 
Barry Bonds of the Giants each went 2- 
for-8 in foe series. 

Brawors 8, Cardinals 4 Jeromy Bum- 

itz again picked on the Benes brothers as 
Milwaukee completed a three-game 
sweep of St Lews. 

Bumitz hit a bases-loaded triple off 
Andy Benes in foe second inning that, 
put foe Brewers ahead to stay. On Mon- 
day night, his ninth-inning homer off 
Alan Benes gave Milwaukee a 1-0 tri- 
umph. 

Red Sox 4, Phillies 2 Shane Mack hit a 
go-ahead, two-run single in the seventh 
inning as Boston beat Philadelphia at 
Fenway Park- 

The Red Sox are 5-1 in interleague 
play while the Phillies fell to 1-5 against 
AL competition. 

Tiom 6, Mariim 2 Detroit became the 
last team in the majors to win an in- 
terleague game, beating Florida on 
Omar Olivares’s four-hitter at Tiger 
Stadium. Olivares f5-5) lost last week at 
Montreal despite going 2-for-3 at- the 
plate. 

Twin* 8, P i ratai 2 Ron Cootner hit a 
three-run double and Minnesota won its 
second straight interleague series. 



TTie Colorado Rockies' shortstop, Walt Weiss, diving in vain for a grounder by the Rangers' Ivan Rodriguez. 

A Recruit Makes the Floor Tremble 

Women’s Basketball Gets a Chinese Player Who Weighs In at 280 


By Tom Friend 

A'rw >lvi Times Sen ire 

L OS ANGELES — A 
30-year-old woman ar- 
rived from China last 
week, dropped off her diary at 
her apartment and brought 
her huge shoe box to bas- 
ketball practice. She walked 
in, used the only word of Eng- 
lish she knew at the time 
{"Hi”) and the Women’s Na- 
tional Basketball Association 
finally had someone to catch 
a lob pass. 

Her name is Zheng HaLxia, 
she is Charles Oakley's size, 
and it only goes to show the 


WNBA has no ceiling on it. 

“She's 6 foot 8, 280, and 
not a skinny 280,” said 
Rhonda Windham, the Los 
Angeles Sparks's general 
manager, who drafted Zheng 
on personal experience. 

The 2.04-meter. 127-kilo- 
gram Chinese player knocked 
Windham over during a game 
once. "I mean, she wears an 
1 8 shoe. I put her jersey on. 
and it came past my knees,” 
she recalled. 

Not to mention that she can 
make a free throw. 

The Women's National 
Basketball Association, 
which debuts Saturday, is 



Tbr V.-U Yuri Tmm, 

Zheng Haixia demonstrating her style in Los Angeles. 


about equal opportunity. 

And it is also about time 
the Chinese player earned 
“equal opportunity.” 

She has been triple-teamed 
— and sometimes quintuple- 
learned — since she took up 
the sport at 12. but this is the 
first league that will attempt 
to defend her one on one. 

“Put it this way.” the 
manger said Wednesday after 
watching Zheng’s unstop- 
pable ground hook. 

“If you give it to her on the 
blocks, she scores or gets 
fouled. And she makes free 
throws. I think she can make 
them with her eyes closed.” 

She lakes at least 300 shots 
a day, but then it has always 
been just her and her lopsided 
basketball for the last IS 
years. 

A schoolteacher in Shan- 
dong Province asked her to 
try the sport, and soon her life 
became fairly one-dimen- 
sional — posting up seven 
hours a day. 

To be like her other female 
friends, she attempted sew- 
ing. but it was no use: she was 
assigned to the Chinese na- 
tional basketball team at 15. 

She has played in every 
Olympics since the 1984 
Games in Los Angeles — 
"Yes. I have been here be- 
fore,” she said Wednesday 
through an interpreter — al- 
though, in 1984, she was a 
one-woman team. 

“I played against her,” 
said Windham, who as a 5-5 
point guard won a national 
collegiate championship at 
Southern California with 
Cheryl Miller. “It was the ’87 
World University Games in 
Yugoslavia. We were down 
20, so our coach put all five of 
us on Haim and made every- 
one else shoot from the 
comers. We won by 2. But it 
was amazing. When she came 
our for warm-ups, our coach, 
Linda Sharp, was sitting on 
foe bench and said she could 
feel the court vibrating." 

Her knee would go out 


from time to time and. nat- 
urally her weight would fluc- 
tuate, loo. 

it was in the 290s at the 
Barcelona Olympics, and in 
foe 250s ai the Atlanta 
Olympics, and the coaches in 
China — who believed in 
playing her 40 minutes a 
game — thought she would 
be too slow for die American 
game. 

But the Americans enjoyed 
her affable smile, and an Aus- 
tralian coach named her Baby 
Huey after seeing the soft de- 
meanor that went with her 
tree-trunk calves. 

John Stockton, meanwhile, 
saw her at the Barcelona 
Olympics, jabbed his Utah 
Jazz teammate Karl Malone 
in the ribs and said. “She’s 
bigger than you." 

That is why the Sparks had 
to draft her. “I almost took 
her with the last pick of the 
first round.” the general 
manager said. "But I didn't 
think anybody would take her 
becausethey thought she was 
probably slow and didn’t 
want to deal with foe lan- 
guage barrier. So I waited un- 
til foe second round, banking 
that no one would have con- 
fidence in her.” 

After all. she cannot dunk 

— “I do not even try.’ ’ Zheng 
said — and she learns English 
two words at a time. 

“It's true," said the 
Sparks's ebullient point 
guard, Jamila Wideman. 
"She just learned, ‘Good 
morning,’ and she'll say that 
whether it's morning, after- 
noon or evening.” 

“No kidding," said Sharp, 
the Sparks’s head coach. 
“Sparks and Sharp, she gets 
them a little confused.” 

- She chose foe WNBA to 
prove her 18 years of bas- 
ketball was not a wash. And 
she had always been a Na- 
tional Basketball Association 
fan. 

Her favorite players? 

“Jordan and myself,” she 
said. 


Rhein Faces 
Reawakened 
Dragons in 
World Bowl 


By Mike Carlson 

lnt iriu;u‘>uil HerM Triton 

The Barcelona Dragons arose from 
their torpor on the final weekend of the 
World League of .American Football reg- 
ular season to remove a shadow hanging 
over this Sunday's World Bowl. 

Barcelona had roared to a 4-1 record in 
the first half of the season to clinch the 
right to play in and act as host for the 
World Bowl. Bui it then lost four games 
in a row. raising the specter of a team 
with a losing record playing in the final. 

On Saturday, the Dragons redis- 
covered their form to rout Scotland. 46- 
18, as quarterback Jon Kitna threw a 
record-tying five touchdown passes. 

“I wish I knew why we lost those 
games.” said Barcelona's coach. Jack 
Bieknell. “I'd have done something 
about it. But we got back to form at the 
right time.” 

The Dragons' victory ensured that the 
Rhein Fire would finish with the 
league's best record and take the other 
place in the World Bowl. But Rhein had 
to scratch out a hard-fought 10-7 win 
over London to finish 7-3. 

Under Galen Hall the Fire have gone 
from worst to first this season. The team 
relies on an offensive line with four 
NFL-allocated players, including the 
fast-developing Ethan Brooks t Fal- 
cons). a converted defensive lineman 
from Williams College. The Fire's vet- 
eran quarterback. T.J. Rubley t Denver 
Broncos), was sacked only once in 10 
games. “T.J.'s mobility arid experience 
under fire enabled us to avoid disasters 
while the line fused together as a unit." 
Hall said. 

The teams split their season series, 
with Barcelona winning the opening 
game in Dusseldorf, and Rhein pound- 
ing the Dragons three weeks ago at 
Estadi Olimpic. Since the first win. the 
Dragon defense had to adjust to the loss 
of its end. Carl Reeves i Bears i. and now 
pass-rushes more with the linebackers, 
including Naposki. a veteran who 
missed Barcelona’s 1991 World Bowl 
loss because of an injury- 

Napoksi is healthy, but other injuries 
mean the Dragons' defense now in- 
cludes four players cut by other World 
League teams. 

The league's major concern is at- 
tendance. The Dragons once drew 
40,000 for a 1992 game, the non- 
Olympic record for Montjuic. But their 
crowds have fallen in each of foe three 
seasons since the league's return. 

In the past, the World Bowls have 
drawn about three times the team's sea- 
son average. 

Last year’s game, at Murrayfield, at- 
tracted 39,000. But unless the Dragons 
can lure that many on what is the final 
day of the Spanish soccer season, the 
vast stadium will look particularly 
empty on a game broadcast live on Fox 
TV in America. 

The league's president. Oliver Luck, 
views the game as a test for the fran- 
chise. “The Dragons are a well-run 
team, but we really hope they can re- 
verse the trend at the gate.” 

With Dusseldorf averaging 22,000 a 
game, Frankfurt 35.000 and Amsterdam 
doubling their crowds to more than 
16,000, northern Europe is growing 
more and more attractive to the league. 




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PAGE 24 


INTERNATIONAL HERALD TRIBUNE. FRIDAY, JUNE 20. 1997 


OBSERVER 

An ‘Honest Dialogue’ 


By Russell Baker 


EW YORK — Advance 
publicity said the pres- 
ident’s speech on race would 
be “major.” It is hand to 
guess what remains to be said 
in a “major - ' vein about race 
in the United States, so. not 
surprisingly, after saying it 
was a major problem. Clinton 
found himself at a loss for a 
new idea. 

In the absence of a new 
idea, he endorsed an old one 
(affirmative action), said he 
was appointing a committee 
and called for an “honest dia- 
logue.” What constitutes 
honesty in a “dialogue” on 
this subject? The president lei 
the question pass and lapsed 
into bromides, as politicians 
are apt to do when expected to 
orate in the "major” style 
about matters on which they 
have nothing to say. 

Presidents Kennedy and 
Johnson usually wanted us to 
begin somerhing ambitious: 
Clinton summons us only to a 
national gabfesr. He seems to 
believe this might result in 
“concerted action.” which 
would help “lift the heavy 
burden of race from our chil- 
dren's future." As to what 
that “concerted action” 
might be. Clinton did not haz- 
ard a guess. 

□ 

And so. having nothing of 
consequence to say, he dug 
into the national cliche an- 
thology. He came up with, 
among’ other overworked 
phrases, "the classic Amer- 
ican dilemma.” “a great na- 
tional effort to perfect the 
promise of America.” the at- 
tempt “to build our more per- 
fect union.” 

This sounds more like 
bloviating than the opening of 
“honest dialogue. " but it is 
only to be expected in the 


dead political air in which the 
country Is becalmed. The 
.only subject with which 
Washington is seriously en- 
gaged this year is the bal- 
anced-budget exercise. 

Well, be was also speaking 
in California, where people 
have recently been voting 
bleak anti-black, ami-immi- 
grant passions. Endorsing af- 
firmative action in this be- 
nighted territory, the 
president could show his crit- 
ics that there was at least one 
unpopular issue on which he 
would take a stand. 

□ 

The mystery is why the 
president thinks we lack dia- 
logue on race. A roaring dia- 
logue on race has been going 
on here for 350 years. 

Two hundred years ago the 
Constitution spoke honestly 
about the American position 
on race when it stated that a 
slave was to be officially con- 
sidered only three-fifths of a 
human being. For cruelly 
honest dialogue on race it 
would be hard ro improve on 
the Civil War. Lynchings, ri- 
ots. murders, corrupt trials, 
unemployment statistics — 
dialogue doesn’t get any 
more honest than these. 

Clinton didn't say how we 
could enjoy a more civilized 
dialogue. He seems to drink 
that talking across the racial 
divide can produce genuine 
changes in people’s "hearts 
and minds." 

“Hearts and minds” — the 
phrase speaks of the old idea 
that racial hostility is embed- 
ded in a part of the human 
psyche that cannot be changed 
by the forces of reason, edu- 
cation, politics or law. 

[n California Clinton was a 
wary president making a 
wary speech. A committee 
will now take over, and may 
even be heard of again. 

York Twin Service 



‘Noble’ Laureate I. B. Singer: The Ultimate Typo 


By Elisabeth Bumiller 

Afar tort Times Service 

N EW YORK — What writer has 
not suffered the indignity of a 
typo? But for Isaac Bashevis Singer, 
this particular typo was the ultimate 
indignity: It was on his gravestone. 

To some of his friends it was a 
cruel insult, a mistake set in stone. 
Others saw it as a comic absurdity, 
one that would have cenainly been 
appreciated by Singer himself. His 
widow, like an antic Singer char- 
acter afloat in her own world, was 
willing to let it pass. 

But Wednesday, nearly six years 
after the death of the Yiddish writer 
who won the 1978 Nobel Prize for 
Literature, a monument engraver 
finally corrected Singer's honorific. 
Singer at last is a * ' 1 Nobel’ ’ laureate, 
and no longer a “Noble' ’ one, as his 
stone has proclaimed since 1992! 

“Isaac would have enjoyed the 
irony,' ' said Eve Friedman, the co- 
author with Singer of the play 
"Teibele and Her Demon.” "But 
there was something kind of sad 
about it. Isaac in that stone was the 
bun of a joke.” 

The typo was one of several un- 
fortunate leitmotifs in the tale sur- 
rounding Singer’s final resting 
place. Another was his son’s anger 
over the site of his father's grave: 
why did the author of “Gimpel the 
Fool,” who wrote such farcical sto- 
ries about the ambiguities of sex 
and death, end up buried in sub- 
urban New Jersey, in a casually 
kept grave site within view of an 
encroaching subdivision? 

Yet another was the family's in- 
credulity that Singer, who is de- 
scribed by his son as a “Jewish 
Casanova," was laid to rest three 
gravestones away from the man, 
Waiter Wassermann, from whom 
he stole his second wife. That 
woman. Alma Singer, who died in 
1996, now lies next to Singer, but 
within feet of Wassermann. 

If this were a Singer short story' 
{“The Re-encounter" comes to 
mind), Walter and Isaac would 
continue to glare at each other in 
death, through the yew bushes. 


“They hardly got along in 
life, so it’s kind of ironic 
that they're neighbors in 
death,” said Alma Sing- 
er's grandson, Stephen 
Dujack. 

The typo was dis- 
covered in the summer of 
1992 at the unveiling of 
the gravestone in Beth-El 
before family and friends. 

Roger Straus, a founder 
of Farrar. Straus & Gi- 
roux, Singer’s publisher, 
was bonified, and imme- 
diately pulled Mrs. Singer 
aside. “I said 'This is aw- 
ful, what are we going to 
do?’" he recalled. Mrs. 
Singer responded, he said, 
that “Noble" was “an ac- 
ceptable alternative.'' 

The story begins in a 
Catskills resort. The then- 
Alma Wassermann, 30. a 
stylish, self-absorbed Ger- 
man-bom refugee, was 
married to Walter Wasser- 
mann, a wealthy business- 
man. They had two young 
children. The family had 
recently fled Nazi' Ger- 
many and settled in Man- 
hattan. In rhe summer of 
1937. they took their first 
American vacation at a 
farm in Mountaindale. 
New York. Nearby 



Nobel Laureate - , 





LurJ Ml*- i-HtUi* '«■ Vat Tub— 

Original epitaph on the stone at the foot of Singer's grave and corrected version. 


was Green 
Fields, a colony of Jewish writers, 
where Singer, 33. the son of a 
Warsaw rabbi and himself a recent 
immigrant, was staying. 

Mrs. Wassermann "and Singer 
became friends and went for long 
walks with her children. The re- 
lationship continued in the ciiy, in 
clandestine meetings at the New 
York Public Library, and grew into 
a romance. By 1940. Wassermann 
had left her husband, as well as 
Inge, 10, and Klaus, 6. to many 
Singer. 

‘ ‘I just felt that I had to spend the 
rest of my life wtith him and there- 
fore I had to give up my marriage 
and my children." Alma Singer 
later told Janet Hadda. the author of 
“Isaac Bashevis Singer: A Life.” 


Alma's daughter, Inge, never 
forgave her. Inge grew up. married 
Raymond Dujack, now an econ- 
omist. and settled in the small New 
Jersey town of Emerson. 

In 1964 Inge’s father, Walter 
Wassermann, died. Inge, who had 
always loved the nearby Beth-EJ 
Cemetery, bought four plots near a 
tree, and buried her father in one. In 
1990, Inge died of cancer at 60 and 
was buried in from of her father. Her 
mother, who by this time had been 
mariied for half a century’ to Singer, 
had not come to see her daughter 
during her illness. Inge was Instead 
cared for by her friend and next- 
door neighbor. Leah Feingold. 

. The following year. Singer was 
dead. Mrs. Singer, searching for a 
suitable plot, called Feingold to 


help select a nice plot for Isaac. 
And one where there would be 
room someday for her, too. “She 
said she wanted it as close to Inge 
as possible.” Feingold said. “She 
had a lot of guilt about her daugh- 
ter. A lot of guilt.” 

So Feingold found the grave for 
the Nobel laureate, just three stones 
away from Wassermann, Alma's 
ex-husband. “Alma didn't care 
about that." Feingold said- 

At the unveiling the following 
year, the family found the 
“Noble' ' typo — and two others on 
the smaller foots rone marking 
Singer’s grave. There, Nobel was 
spelled wrong, and worse, at least 
in Mrs. Singer’s view, the “h” had 
been dropped from her husband's 
middle name. 


Mrs. Singer can. 
plained to Shastotw Me- 
morial Corp. in Great 
Neck, New York, the 
company that had made 
both gravestones. Sha- 
stone retorted mat Mb. 
Singer had specified both 
the “Noble and “Ba- 
sevis ’ ’ spelling in her orig- 
inal instructions and pro- 
dueed documents showing 
her signed approval of 
blueprints of the stones, 
with all three mistakes. • 
After much muiual-ftn- 
gerpointinc, Shastone re- 
placed the footstone with 
a corrected one in June 
1993. at a cost of S430.ro 
the Singer family. 

“Noble” on the big stone 
stayed as it was. 

In 1996. after Alma 
died, Susan Dujack. 

Alma’s granddaughter, 
called a lawyer. Soon Sha- 
stone said they couid 
make ihe change — for 
S625. which Israel Zamir 
would pay for — but not 
without the approval of 
the two other heirs. Steven 
Dujack. Alma 1 s grandson, 
and Klaus Wassermann. 
Inge's brother. Wasser- 
mann quickly said yes. but 
Dujack balked. ' ‘Alma had chosen 
not to change it.” Dujack said. 
“Why should I interfere with his- 
tory? It had happened.” 

Dujack then spoke to Friedman, 
who reasoned with him. “Isaac,” 
she told him, “would never want 
his dignity puncrured to make a 
point about humanity.” 

That settled it. Wednesday in 
Beth-EI, under an overcast sky, a 
monument engraver, Reed Frank el. 
knelt near the scruffy crab grass 
that edges Singer's grave, and care- 
fully drilled away the past. 

Would Singer be amused or an- 
noyed by the fuss over his epitaph? 
A clue may lie in "The Ren- 
counter.” "Of all my disenchant- 
ments,” a dead character says, 
“immortality is the greatest.” 



B«x'A(^tkc FniKt-Pirw 

GLASS HOUSES — Visitors at the preview of the 10th Documents art exhibition 
in Kassel, Germany, looking at “Hohlwelt” (Hollow World), a work by Dorothee 
Golz. The exhibition will open to the public on Saturday and run until Sept 28. 


T HE British model Naomi Campbell, who was 
briefly treated in a Canary Islands hospital last 
weekend, has denied she tried to kill herself after 
quarreling with her boyfriend. "I am shocked by 
the publicity given to this,” she said in Paris Match 
magazine. "My grandmother, my whole family 
were horrified by the rumors although they fully 
well know that 1 am nor the type to commit sui- 
cide.” She said she had suffered an allergic re- 
action to antibiotics. The local media speculated 
that she had tried to commit suicide after an ar- 
gument with her boyfriend, the flamenco dancer 
Joaquin Cortes, who had been photographed with 
another woman. "It's his cousin.” Campbell said. 
Besides, she said, “Joaquin doesn't speak English 
and I don’t speak Spanish. So our conversations 
and our rows are very limited.” 

□ 

Stephen Bogart, the son of Humphrey Bogart 
and Lauren Bacall, has filed suit against three 
entities in Ted Turner's broadcast empire, charging 
that they had falsely promoted a documentary on his 
father as having been based on a book he wrote. Gail 
Provost, the co-author of ‘ ‘Bogart In Search of My 
Father.” is also a plaintiff. The book Was published 
in 1995 and a few months later. Stephen Bogart 
agreed to narrate “Bogart: The Untold Story,” a 


PEOPLE 


documentary' shown on Turner's TNT cable net- 
work. The suit says he participated on condition that 
there be no suggestion that the film was based on his 
book. 

□ 

Arundhati Roy has been ordered by a court in 
India to answer charges of obscenity against her 
highly acclaimed first novel. “The God of Small 
Things," the Press Trust of India said. A lawyer. 
Sabu Thomas, filed the complaint, saying the book 
was likely to corrupt the minds of readers. The 
novel has been critically acclaimed all over the 
world and translated into several languages. 

O 

The conductor Myung-Whun Chung has been 
named head of the Accademia Santa Cecilia in 
Rome. Chung was musical director of the Opera 
Bastille in Paris from 1989 until 1 994. He will take 
up the new job in October and is expected to 
conduct the Italian orchestra at the inauguration of 
the new Rome auditorium in 1999. 

□ 

A Sicilian mayor has backed off a ban on kissing 
in public after a protest “kiss-in” in the main 
square, the Italian newspaper La Repubblica re- 


ported. It said 50 youths outraged by Mayor 
Salvino Caputo’s "censorship” kissed and 
cuddled in the cathedral square in Monreale io 
make their point, risking a fine. The kiss-in had the 
desired effect. 4 ’My ordinance did not veto kissing, 
but behavior offending public decency," Capufo 
said. “Kissing is O.K.” 

□ 

About 60 royals from across Europe are at- 
tending the 60th birthday celebrations for King 
Harald and Queen Sonja. King Harald turned 60 
on Feb. 21, and Queen Sonja celebrates her birth- 
day on July 4. Of the royals attending the fest- 
ivities beginning Friday in Trondheim, four are 
reigning kings, two are reigning queens and seven 
are heirs to the throne, all related to the Norwegian 
king. 

□ 

• The firsr of a suing of Elvis Presley nightspots 
will open July 25 in Memphis. “This is the kind of 
place where he would have entertained his friends 
between road tours and filming movies.” Priscilla 
Presley, die entertainer’s former wife. said. The 
club — Elvis Presley’s Memphis — is on the Beale 
Street strip that was famous in Presley’s early days 
for its jazz, blues and R&B dubs. 



all the tea in 10811. 


Ever\- country has its own AT&T Access Number 
which makes calling home or to other countries really 
eas\ r . Just dial the AT&T Access Number for the country 
you’re calling from and you'll get the fastest, clearest 
connections home. And be sure to charge your calls 
on your AT&T Calling Card. It'll help you avoid out- 
rageous phone charges on your hotel biii and saw you 
up to liOV (.remember that old Chinese proverb- 
a yuan saved is a yuan earned). Check the lisi below 
for AT&T Access Numbers. 


AT&T Access Numbers 




EUROPE 



020-795-611 

0860-89-0011 

0560-89-0011 

0800-89-0011 

Steps to follov for easy tilBng worldwide: 

1 lust did the \T1-T Amass Number for the country you 
are calling from. 


ABEtrfoac 

Belgium* 

{ Czech Hopotillc* 

1 France 

. 022-903^11 

..a-HO-IN'IO 

00-42-000-101 

6-000-99-0011 

Switzerland* . . .. 

United Kingdom* 

na 

» Germany 

S& GraatB* .... 

Sft Ireland 

ifp Italy* 

*** Netherlands* . 

Rimla**(MHC 0 W|i 

Spain . . 

0130-001 B 
00-880-1311 

. 1-800-560-000 

Egypl*(Ca(ra)T 

twit . .. 

Saudi Arabia 

. 610-0200 
177-100-2727 
1-800-10 

2 Dial the phone number you’re calling. 

5. Dial rhr railing can! number listed above your name 

836 OOO 6780 1111 

172-1011 

AFRICA 


TBcrr* 

■Hl» HUI U 

-0800-022-9111 
. . 755*5942 

900-99-00-11 

Ghana . 

Kenya* 

Smith Africa 

0191 

. 0-800-10 
0-800-99-0123 


Cant find (he AT8J Accmj Number for the couniry you're calling [rom? Just ask any operator for 
AT4T Hred* Service, or mn our Web she ar. http://www.att.Miii/lrnvl4T 


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