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

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INTERNATIONAL 


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PUBLISHED WITH THE NEW YORK TIMES AND 


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London, Tuesday, March 25, 1997 fe 


No. 35.478 




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Einstein’s Eden 
Kindles Dispute 

Heirs Claim German Retreat 


By William Drozdiak 

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CAPUTH, Germany — When Albert Einstein wanted 
to fathom the deepest mysteries of the universe, he liked 
to retreat to a wooden house in this fishing village near 
Berlin that he described as “my paradise." Here, in the 
years before the Nazis came to power, he fo und the 
tranquillity be craved to produce some of his most 
inspired work. 

After fleeing Nazi Germany for a new life in America, 
Einstein carried with him an abiding nostalgia for the 
Bauhans borne into which he had poured his entire savings- 
% -He would often reminisce long walks in the aromatic pine 
’ forest behind his house with fellow scientists Max Planck. 

Fritz Haber and Otto Hahn, and recall how their con- 
“ venations broke new ground in 20th-century science. 

But in the past few years, Einstein's cherished abode 
has emerged as the prime source of controversy in one of 
the most bitterly disputed property claim cases since the 
reunification of Germany. 

When East Germany was folded into the West, it 
provided the first opportunity for thousands of Jewish 
families to recover property in the former Communist 
sector that was lost or abandoned by parents or grand- 
parents during the 1930s. But ownership of Einstein's 
house has evolved into such a complicated custody battle 
that the case might befuddle even the father of the theory 
of relativity. 

In one comer stands the village of Caputh, which sees 
the house as a prized attraction that will lure free- 
spending tourists. The local authorities base their claim 
on the Nazi law of 1935 that transferred ownership of the 
house to the state and “compensated" the Einstein 
family with 5.000 marks — less than one-tenth of the 
property’s true value at die time. 

4 The award-winning physicist had left Germany one 
r month before Hitler rose to power, and he never returned. 
From his exile at the Institute for Advanced Studies in 
. Princeton, New Jersey, Einstein gave permission for his 
house to be used as a Jewish orphanage. 

The children stayed there until November 1 938. when 
die local headmaster and his pupils chased them out and 
ransacked the place during the infamous Kristallnacht 
. purge of Jews. The orphans were relocated to Berlin, but 
many of them -later died at Auschwitz. Meantime, the 
house was employed for a variety of other purposes, first 
as a Nazi girl scout headquarters and later as a rest home 
for German Air Force veterans. 

Caputh's attempt to seize ownership of a house that its 
inhabitants had profaned in order to transform it into a 
tourist shrine dedicated to the scientist they drove away 
'has provoked a furious legal challenge from other 
claimants, who say they are disgusted by the village's 
warped sense of history. 

See EINSTEIN, Page 9 


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A Palestinian rock thrower, left, being stopped by a Palestinian policeman Monday in 
Hebron. As tension rose, the Palestinian Authority suspended security ties with Israel. Page 3. 

U.S. and Israel Warned Arafat 

Both Say He Eased Up on Hamas Before Bombing 

By Barton Gellman anyahu ‘s contention that Mr. Arafat gave * ‘a green 

Washing** Pest Service fo f at ^ cks :". ^ ™ted. tQ ’ in effect, freeze 

political talks with the Palestinian Authority. Mr. 

JERUSALEM — The suicide bombing in Tel Netanyahu, meanwhile, has renewed a public re- 
Aviv on Friday, which broke a year of silence from lotions campaign to discredit Mr. Arafat and divert 
the Hamas military wing, followed months of international criticism of Israel over its plan to 
private complaints by Israel and the United States build a Jewish housing project in East Jenmlem. 
that the Palestinian leader Yasser Arafat had The prime minister now suggests, and senior 
loosed the chains on the Islamic extremist group. aides charge explicitly, that the Palestinian leader 
In diplomatic contacts with Mr. Arafat since deliberately caused a resumption of terrorist at- 
January, including a face-to-face admonition by tacks. But American officials familiar with shared 
President Bill Clinton at the White House this intelligence information said again Sunday that the 
month, the administration complained that the evidence did not support that accusation. 
Palestinian leader had softened a ruthless crack- They strongly criticized Mr. Arafat, however, 
down that left Hamas and its ally. Islamic Jihad, saying he had manipulated the threat of violence 
nearly broken, U.S. and Israeli sources said. and had taken unacceptable risks with the release 

American and Israeli officials objected panic- of hard-core operatives of Islamic Jihad and the 
ularly to the release from prison of guerrilla op- Islamic Resistance Movement, known as Hamas, 
eratives who they believed were responsible for Palestinian officials strongly denied all the ac- 
teiror bombings that killed scores of Israelis in cusations of complicity in Biday's attack. Tbey said 
February and March of last year. in interviews and diplomatic contacts that Mr. Arafat 

The three-way diplomatic argument became has sought — ar times with Israeli and U.S. approval 
part of the escalating public crisis between Mr. — to divide and co-opt Islamic extremists by freeing 
Arafat and Prime Minister Benjamin Netanyahu of 
Israel. The Israeli cabinet, repeating Mr. Net- 


See HAMAS, Page 8 


By John F. Harris 

Washington Post Service 

BEIJING — With Vice President A1 
Gore on hand as a witness, two of the 
largest U.fj. manufacturers plan T uesday 
to sign large deals with China in what 
administration officials say is evidence 
that their long effort to kindle a warmer 
relationship with Beijing is succeeding. 

Boeing, which in recent years has 
been spumed by China on some large 
contracts, will sign an agreement to sell 
five 777 wi de-body jets to the flag- 
carrier Air China, a deal the company 
values at approximately $685 million. 

During the same ceremony. General 
Motors will sign a pact to jointly build 
cars with the state-owned Shanghai 
Automobile Industries Corp. The pro- 
ject will spur some $1.5 billion in U.S. 
exports or machinery and parts over its 
first five years. GM said, and will even- 
tually crank out 100.000 Buicks a year 
to Chinese consumers. 

Clinton administration officials trav- 
eling with Mr. Gore, who arrived here 
late Monday as the highest-ranking U.S. 
official to visit China in eight years, 
heralded the agreements as a triumph of 
(heir “engagement" policy, which puts 
a soft edge on human rights disputes in 
favor of an aggressive pursuit of trade. 

But Monday’s announcement of the 
deals, both long under negotiation, was 
tinged with ambiguity for tire admin- 
istration. 

With the White House, and Mr. Gore 
specifically, involved in a controversy 
over Democratic fund-raising that in 
part concerns whether C hina was trying 
to buy influence on U.S. policy, some 
advisers questioned whether the timing 
was politically shrewd 

There is rising skepticism in Wash- 
ington, moreover, about whether the ad- 
ministration’s commerce-based strategy 
toward Ghina is yielding pro g ress on 
human rights and other areas of conflict 

The White House acknowledges that 
there lately has been no demonstrable 
progress in China's human-rights record, 
and the growing U-S. trade deficit with 


China is now larger than with any other 
nation. Critics on both the left and right 
of the political spectrum have called on 
President Bill Clinton to confront Pres- 
ident J iang Zemin of China more directly 
on human rights and trade. 

On his journey across the Pacific 
earlier this week. Mr. Gore acknow- 
ledged that it was "a bet" that a wanner 
U.S.-China relationship would yield hu- 
man rights gains. The large trade deficit, 
and China’s persistent repression of 
political dissidents, be said, do not mean 
that “engagement” is not working. 

“I think it's too early to reach a 
verdict of that kind,” Mr. Gore told 
reporters aboard Air Force Two. Ev- 
idence that China is moving away from 
its repressive tradition, Mr. Gore said, 
includes recent elections in its villages, 
and the robust growth of the private 
sector economy. 

“I think it’s more than reasonable to 
See GORE, Page 8 


Can Li Peng 
Reconcile 
China With 
The West? 


By Steven Mufson 

Washington Post Service 

BEUING — Two years ago. Prime 
Minister Li Peng of China met a group 
of Hong Kong businessmen who urged 


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Japan, Blind to North Korea, Hoards Its Rice 


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Einstein’s country retreat in Caputh, near Berlin. 


By Mary Jordan 

Washington Post Service 

TOKYO — The Japanese government is 
spending hundreds of millions of dollars to 
store record supplies of surplus rice, consid- 
erable amounts of which are aging, losing taste 
and in danger of spoiling, the little-known 
stockpiles, which fill 3.500 public warehouses, 
could feed all of Japan's 1 25 million people for 
about four months. 

In nearby North Korea, United Nations of- 
ficials estimate that 20 million people go to bed 
hungry every night as famine looms, disease 
spreads and chronic malnourishment threatens 
an entire population. 


The United States. South Korea and other 
nations recently set aside their deep differences 
with North Korea to pledge a new round of 
emergency food aid, separating feelings for a 
repressive government from those for an im- 
poverished populace. 

But Japan has refused to open its vast rice 
reserves — which many people here are not 
aware of — despite the urgrngs of international 
aid groups, the United Nations and even the 
U.S. secretary of state. Madeleine Albright. 

Recently, critics of Japan's no-aid policy 
have focused attention on Japan’s storehouses 
filled with 3 million to 4 million tons of rice, 
some of which is getting old and therefore 
unsalable to the Japanese public. 


As more people become aware of the rice 
stockpiles, anger and indignation are rising that 
tons of it may be sold for animal feed rather 
than shipped to hungry North Koreans. 

“It is very simple. If Japan has too much rice, 
they should help their neighbors in Deed, ” said 
So Chung On, spokesman for the largest as- 
sociation of North Koreans in Japan, where 
more than 200,000 people are believed to be of 
North Korean ancestry. “Of course it is their 
right not to help, but we regret they will not.” 

Prime Minister Ryu taro Hashimoto has said 
it will be difficult for Japan to give aid now in 
light of recently disclosed evidence suggesting 

See RICE, Page 9 


Cash Opens U.S. Border 
* To Mexican Drug Lords 

Corruption Doesn’t Stop at the Rio Grande 


AGENDA 


By. David Jonnsion 
and. Sam Howe Verhovek. 

New York Tunes Service 

: CALEXICO, California — At this 
dusty border crossroads east of San 
Diego, two U.S. immigration inspectors 
‘ 'j: helped a Mexican drag ring move hun- 
dreds of pounds of cocaine across the 

header, simply by waving the smugglers 

through the checkpoint without even 
glancing insi de their cars. 

; In El Paso, two federal customs in- 
spectots tried to shake down an in- 
formant posing as a drug smuggler, one 
'■-? j Of them demanding more than $1 nul- 

: i >'4 lion to look the other way when cocaine- 

t laden vehicles crossed from the Mex- 
ican border city of Juarez into the 
United Steles. 

^ " And in Zapata County, Texas, a re- 

J mote stretch of the Texas-Mexico bor- 
>>- der, drag traffickers tunned to local law- 
Enforcement officials for protection m a 
2*5* big way: Most of the county s leaders, 

l f~ Newsstand Prices _Z _ 

Bahrain 1.000 Din Malta 

Cyprus .. C. £ 1.00 Nigeria 

■Denmark ^14.00 DM- Oman — t250HiaB 

v FWand 1Z.00FJA. Qatar 

: ? ■GtbraHar_ £0.85 Rep Ireland 

Great Britain _£ 090 Saudi Arabia .10-00 R 

Egypt £E 550 S. Africa -R12 + VAT 

«” Jordan 1250 JD UAE....^-10-OO Orh 

. Kenya K. SH. 160 U.S. ML 

t Kuwait wwFgs Zhbabwe— anjau.w 


including the county judge, the sheriff 
and the clerk, were convicted of or 
pleaded guilty in federal court to 
charges of aiding the international drag 
trade. 

Narcotics-related corruption does not 
stop at the Rio Grande or at a line in die 
desen separating the United States and 
Mexico, which has been rocked in re- 
cent weeks by reports that top officials 
bad helped big-rime drug traffickers. 

Nothing on that scale has occurred on 
die U.S. side of the border, but the 
corruption of law-enforcement officials 

at the local and now federal level — 

fras become a corrosive byproduct of the 
vast river of cocaine, marijuana and 
heroin that pours across die 2,0 12-mile 
border. 


U.S. Disputes Paris 
On Zaire Truce Bid 

WASHINGTON (AFP) — The 
White House denied Monday an an- 
nouncement by France of a U.S.- 
French diplomatic effort to press for a 
cease-fire and talks between President 
Mobutu Sese Seko of Zaire and rebels 
fighting to overthrow him- “We agree 
there should be a cease-fire,” said the 
White House spokesman but he denied 
that there was ‘ ’specific effort to work 
with Fiance” on it. 

Earlier article . Page 2 


The Dollar 


that a few law-enforcement officials in 
remote border counties have been lured 

See BORDER, Page 8 


Monday O * PM. 
1.6868 
1.6195 
122.89 
5.6935 


The Dow 


Monday 0 4 PM. 

790.89 


pravtoua doss 
1.6883 
1.8035 
122.65 
5.6875 

previous dose 
6804.79 

prevfcxadoM 

784.10 



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ON THE ALERT — Armed Italian policemen watching Albanians 
arrive in Brindisi despite a newly enforced ban on their brats. Page 9. 


Books Page a. Watching Greenspan 

Crossword Page 11. All eyes (and ears) will be on Alan 

Opinion Pages 10-11. Greenspan, Federal Reserve Board 

Sports Pages 20-2L chairman, as he presides Tuesday over 

The ritual at the heart of his power A 

International Classified Page 4. policy debate on a possible rate in- 

crease to cool die economy. Page 13. 


International Classified 


The IHT on-line httpi/Vvvv.'v.-. iht.com 


territory to Chinese rule 

Mr. Li's answer was an angry one. 

“Your job is to build roads, ports and 
telecommunications. My job is to worry 
about the courts,” he said dis- 
missively. 

Without assurances about the courts, 
the business executives explained, it 
would become difficult to sign contracts 
extending beyond mid- 1 997. 

“It’s hard to imagine anyone more 
difficult,” one participant said about 
Mr. Li. 

Die exchange was a typical one for 
the prickly prime minister, who will be 
the official host during the visit by Vice 
President A1 Gore, who arrived in China 
-on Monday night. 

Once described as the “butcher of 
Beijing” for signing the martial law' 
order that preceded the bloody crack- 
down on student-led protests in 1989, 
Mr. Li is now supposed to play the 
unfamiliar role of conciliator, in chaige 
of the first of a series of meetings that 
are designed to repair damaged relations 
with the United States and pave the way 
for presidential summit meetings late 
tins year and early in 1998. 

“I've seen Li Peng sarcastic, acerbic, 
dismissive.” said a diplomat who de- 
scribed a recent meeting with “the nice 
Li Peng.” He added: “I wouldn’t say 
the mood was as contentious as I've seen 
in previous meetings with Li Peng.” 

Yet there is no way for Mr. Gore and 
the Clinton administration to circum- 
vent the controversial Mr. Li as they 
attempt to patch up Chinese -American 
relations. Nearly eight years after the 
Beijing massacre, Mr. Li is the number 
two person in the Chinese hierarchy, 
probably stronger now than he was at 
the time of tile crackdown. 

He plays a key role in forging eco- 
nomic policy. He has led the successful 
campaign to start building the mam- 
moth Three Gorges dam, also known as 
Li Peng's Great Wall. His four-person 
office of private secretaries is con- 
sidered by many to be the most effective 
team of advisers among top leaders. 

As head of the Communist Party’s 
leading group on foreign policy. Mr. Li 
has been able to infuse Chinese foreign 
policy with more militant rhetoric than 
many in the Foreign Ministry would 
favor. 

Though an international pariah after 
the 1989 crackdown. Mr. Li has since 

See CHINA, Page 8 


Worker Unrest Threatens to Throw a Wrench Into EU Timetable 


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70294 8115025 


By Alan Friedman 

[nr* m lBional Herald Tribune 

PARIS — Worker unrest is spreading across 

Europe, as hundreds of thousands take to the streets, 

drivaiby a fear of job losses, spending cuts and a 
growing sense of financial and social insecurity. 

B jn ‘Sent weeks alone, there have been cross- 
horder strikes by Renault workers upset about 
Sant closures and job losses in Belgium. France, 
and Spain; a march by German coal miners worried 
SoutWishing subsidies; protests byFrendi med- 
ical intents upset about budget cutbacks; a demon- 


stration by 300,000 Italian workers claiming the 
government should do more to create jobs. On 
Tuesday, German steel workers will take to the 
streets of Frankfurt. 

For the Continent’s political and business lead- 

NEWS ANALYSIS 

ers. the timing could not be worse- The protests 
come just as governments are struggling to slash 
social benefits and public spending in order to 
reduce annual budget deficits enough to meet the 
conditions laid out in die treaty of Maastricht for 


single currency membership. This week, Italy and 
Belgium are planning to introduce austerity mea- 
sures, and Germany's finance minister, Tbeo 
WaigeL, warned over (be weekend of possible new 
social-aid spending cuts to make sure Bonn also 
meets the key single currency target of a 1997 
deficit that equals no more than 3 percent of gross 
domestic product 

“Europe." said Paul Home, the Paris-based 
chief international economist at Smith Barney Inc., 
“is really very unlucky. There is a collision of 
calendars, including the French and Goman elec- 
tion calendars and the Maastricht single currency 


decision calendar in 1998. And there have been 
decades of coddling the job holders so that when 
you try to take away some of the job protection the 
protests are louder and more effective.'* 

A large part of the message from unhappy work- 
ers is that they want politicians to concentrate more 
on the social and political side of European in- 
tegration and less on the Europe of fiscal austerity. 
As tiie Italian Communist leader, Fausto Bertinotti, 
put it in an interview: “Die workers don’t see what 
it is dial the single currency offers them in social 

See PROTESTS, Page 8 


PAGE 3 


Gore Opens China Visit 
With 2 Business Deals 

Boeing and GM to Sign Contracts 
Under the ‘Engagement’ Policy 





INTERNATIONAL HERALD TRIBUNE, TUESDAX, MARCH 25, 1997 


PAGE TWO 


A Chip Off the Old Block / Huts Off to PHA 


Briton Meets Long-Lost Relative 




C HEDDAR, England — Until several 
weeks ago, Adrian Targett, a high 
school history teacher, did not appear to 
have much in common with Cheddar 
Man, a 9,000-year-old pile of bones at the Nat- 
ural History Museum in London. 

Sure, Mr. Target! had heard of Cheddar Man, 
and had even visited the cave in this quaint 
Somerset village where his skeleton was found 
in 1903. But after a seemingly quixotic ex- 
periment in which scientists compared Cheddar 
Man’s DNA with that of 20 local residents, Mr. 
Targett received a wholly unexpected piece of 
news: He is, it seems, related to Cheddar Man on 
his mother’s side. 


By Sarah Lyall 

New York Times Service 


“I'm thinking of writing to the Marquess of 
irti whn awns these caves, and saying I'd like 


Bath, who owns these caves, and saying I’d like 
my cave back,’ ’ Mr. Targett said over a meat pie 
and a pint in die local pub, considering the 
implications of having such a venerable relative. 
“All those tunes I’d visited this cave before, and 
I’d never realized I was going home.’ ’ 

The experiment came about when a doc- 
umentary filmm aker, researching a series on 
archaeology in Somerset, in southwestern Eng- 
land, decided to test whether Cheddar Man had 
any descendants in the area. A team of scientists 
from Oxford University then extracted a small 
section of mitochondrial DNA, which is passed 
through the female line, from one of C h e ddar 
Man's molars and compared it with scrapings of 
DNA taken from the cheeks of 20 volunteers. 

Mr. Targett, who was bom in Bristol, just 24- 
kilometers (15 miles) away, was a match, mean- 
ing that he is a descendant of a woman in Cheddar 
Man's family — the ur-Cbeddar Woman. 

“Cheddar Man and Mr. Targett share a com- 
mon maternal ancestry, a direct link through the 
maternal line,” said Bryan Sykes, head of the 
ee tiniar genetics group at Oxford’s Institute of 
Molecular Medicine which conducted the study. 
'‘You go back and eventually you come to 
someone who is a direct ancestor of both of them, 
perhaps even Cheddar Man’s mother or grand- 
mother.” 

There probably are a lot of Cheddar descen- 
dants out there, said Mr. Sykes, whose team at 
Oxford is making a genetic map of ail of Europe: 


About 1 to 1.5 percent of Britain’s pop- 
ulation is likely to share the same mi- 
tochondrial DNA maridngs found in Ched- 
dar Mm and Mr. Targett. Nor does the 
discovery necessarily mean that Mr. Tar- 
get's famil y is so unadventurous as to have 
never strayed far from Ch eddar allfoese 
millennia, although this is a possibility. 

Cheddar Man has been a local celebrity 

rimy his discovery in 1903, and news of 
his links to Mr. Targett have inspired a 
rash of caveman jokes at the Kings of 
Wessex Community School, where Mr. 
Targett teaches modern European history. 
“I'm just wondering how I can work 
Charter Man into lessons about the rise 
of the Nazis,” he told reporters. 

And though the school’s receptionist 
described him as “a sweetie,” students 
are, perhaps inevitably, starting to call 
him ^Cheddar Man,” and to make subtie 





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grunting noises when he passes (hem in 
die hallway. 


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die hallway. 

Meanwhile, die discovery has shone a 
happy lighr of fame on this small tourist 
village, known for its dairy products — it Mr 
gave its name to (be cheese — arid fra the ^ 
s pqctacnfar artifacts unearthed from the 
catacomb of caves in the Cheddar Gorge. y& 

No one is happier, perhaps, than Bob 

Smart who manages the Cheddar Show * 
Caves Museum and is thrilled at the chance to 
discuss Cheddar Man, famous in human-origins 
circles for being die oldest complete skeleton ever 
found in Britain- So important is he dial when 
Chris Stringer, principal researcher in die Human 
Origins Group at the Natural History Museum, 
brought Cheddar Man's jawbone to a talk show 
recently, he refused to let it out of his sight, even 
brin gin g it with him to die bathroom. 

“It’s all worked out very nicety,” said Mr. 
Smart, standing with Mr. Targett in front of a 
skeletal Cheddar Man replica lying crumpled 
and forlorn on its side in die cave, the way it 
would have looked when it was found. ‘ ‘One of 
the points we have always fried to emphasize is 
that there’s a close relationship between people 
now and the people living in these caves. They 
really were just like us.” 

Not to three cave-exploring people from Los 
Angeles, who looked at the skeleton, then at Mr. 


Mr. Targett with a copy of 
his ancestor, the 9, 000- 
year-old Cheddar Man* 



JntmlM- Wt — rrt — ' t — 


Targett and then at the sign explaining their 
relationship. They pronounced themselves too 
shocked for coherent thought 

“They don’t look anything alike,” one said 
finally. 


H OW ALIKE are they, this mild- 
mannered historian and the meat-eai- 
ing hunter-gatherer from the middle 
Stone Age who lived hard and died 
young — and probably violently, judging from 
the hole in the side of his head? 

“Maybe it explains why he likes his steak 
rare. ” Mr. Targett ’s wife, Catherine, a substitute 
teacher at the same school said when the news 
first broke. But in an interview, she said he was a 
thorou ghly modem man, willing to help around 
the house and do the dishes. “He’s not very 


interested in blood sprats, although he does like 
walking in the country.” she said. 


The discovery certainly has intriguing im- 
plications for people interested in uncovering 
their roots. Family genealogy has long been a 
hobby of the Targetts, as it happens, and in the 
past Mrs. Targett has always won the com- 
petition to find more distant relatives. She can 
trace her mother’s family back 12 generations, to 
Salisbury Plain in the early 1700s. 

Clearly, that pales in comparison to knowing 
the cave where your relative was buried in 

7000 B.C„ in an era when people ate wild boar and 

didn’t know how to farm or make metal tools. 

“In one fell swoop, Adrian can go back 9,000 
years.’ ’ Mrs. Targett said, “although his family 
tree has a lot of gaps in it” 

But obviously, Mr. Targett is not the only 
person on Earth to have a Stone Age relative — 
everyone else does, too. “The point is that we’ve 
all got 9.000-year-old ancestors,” he said. “I 
just happen to know who mine was.” 


Montenegro Starts to Back Off From Milosevic’s Bear Hug 


By Jonathan C. Randal 

Washington Post Service 


PODGORICA, Montenegro — Tiny 
Montenegro. Yugoslavia's mountain- 
ous junior partner and outlet to the sea. 
has embarked on the perilous exercise 
of openly distancing itself from Pres- 
ident Slobodan Milosevic of Serbia now 
that his power in Belgrade shows signs 
of slipping. 

Spurred by economic hard times, 
rising anti-Serbian sentiment and a de- 
sire to reap benefits by pleasing the 
West, tiie operation involves an appar- 
ent division of labor between 
Montenegro’s two leaders. They are so 
closely linked that they built opulent 
connected residences here. 

With Serbian presidential and legis- 
lative elections due this year — as well 
as a change in the Yugoslav Federation 
presidency — Montenegro’s hedging 
gambit is no carefully calibrated, risk- 
free schoolbook drill but a stark matter 
of survival. 

Western diplomats nonetheless give 


Montenegro’s government high marks 
for positioning itself for a complex fu- 
ture, whether Mr. Milosevic stays in 
power in Serbia, loses to the opposition 
coalition, which last month finally 
forced him to accept its victories in mu- 
nicipal elections, or imposes himself as 
president of the Yugoslav Federation. 

The basic Montenegrin premise. ap- 
pears sound and simple for the ambitious 
men here who rode Mr. Milosevic’s 
shirttails to power nearly a decade ago 
and seem ready to dump him if nec- 
essary to stay in office themselves. 

President Momir Bulaiovic, 41, still 
regularly pays lip service to Mr. Mi- 
losevic, who discovered die economics 


versity and oversaw his installation in 
the highest office in 1990. 

But Prime Minister Milo Djukanovic, 
36, has attacked .Mr. Milosevic directly 
in a wide-ranging broadside, writing 
him off his as an ‘ ‘unquestionably skill- 
ful tactician” now irretrievably trapped 
in a “vicious circle” of “obsolete polit- 
ical beliefs.” 


Mr. Djukanovic told the independent 
Belgrade weekly Vreme late last month, 
“It would be utterly politically wrong 
for Milosevic to remain in any position 
in the political life of Yugoslavia, for 
Yugoslav policies or for himself per- 
sonally.” 

He specifically criticized Mr. Milo- 
sevic Tor refusing to hand over indicted 
war criminals for prosecution, failing to 
improve his treatment of Serbia's large 
ethnic Albanian minority and showing 
“unexplainable stupidity” in taking 
three months to reinstate the opposi- 
tion’s nullified election victories in 14 
Serbian cities. 

Delivered rally weeks before Mr. 
Djukanovic’s recent visit to Washing- 
ton. these and other charges were wel- 
comed by the Clinton administration, 
which was delighted by such unsolicited 
support for its outspoken opposition to 
Mr. Milosevic. 

Yet the visit, designed to show its 
citizens that Montenegro is welcome in 
the world’s most important capital, did 
not pay off as seemingly planned. 


Although Mr. Djukanovic returned 
from Washington last week claiming 
success, his only visible reward was the 
promised release of five rusting 
Montenegrin ships that were impoun- 
ded in 1992 as part of international 
sanctions against Y ugoslavi a. The sanc- 
tions were largely lifted after the end of 
fighting in Bosnia in 1995. 

Because of Montenegro]s partner- 
ship with Serbia, the International Mon- 
etary Fund and the World Bank have 
rejected its pleas for renewed mem- 
bership or even special consideration to 
spur desperately needed foreign invest- 
ment in its privatization plans. 

The Clinton administration remains 
adamant about maintaining the so- 
called “outer wall” sanctions. These 
deny both of Yugoslavia’s remaining 
republics access to international finan- 
cial institutions until Mr. Milosevic 


fully carries out the 1995 Dayton peace 
accords ending the Bosnian fighting and 
extradites indicted suspects to The Hag- 
ue war crimes tribunal. 

Mr. Djukanovic's attack on Mr. Mi- 


Detained Saudi Is Suspected 
Of Being a Driver in Blast 


TRAVEL UPDATE 


Renault Workers Stop 
Eurostar in Brussels 


By Pierre Thomas 
ana R. Jeffrey Smith 

Washington Post Service 


WASHINGTON — A Saudi citizen 
detained last week in Ottawa at Wash- 
ington's request is suspected of being 
the driver of a vehicle used in the ter- 
rorist bombing of a U.S. military hous- 
ing complex in Saudi Arabia last sum- 
mer, according to senior U.S. law 
enforcement officials. 

If the officials are correct, the cap- 
ture by Canadian immigration author- 
ities of Hani Abdel Rahim Sayegh 
would be a major breakthrough for the 
FBI in its nine-month inquiry into the 
bombing, which has been frustrated by 
what U.S. officials have called inad- 
equate cooperation by Saudi investi- 
gators. 

The explosion, in Dhahran, killed 19 
air force members and wounded 500 
others. 

Mr. Sayegh, 28, is said by the of- 
ficials to have fled Saudi Arabia be- 
cause he was being hunted there, and 
be has expressed a desire not to return. 
But he has not cooperated with the 
Canadian authorities, who have been 


questioning him while documents are 
being prepared to justify his depor- 
tation to the United States, the officials 
said. 

The U.S. officials said they believe 
Mr. Sayegh is a Shiite Muslim. Saudi 
officials have told Washington 
privately that they believe the bombing 
was carried out by Shiite Muslim mem- 
bers of a group known as Saudi Hezbol- 
lah. Mr. Sayegh’s name surfaced as a 
suspect shortly after the June 25 bomb- 
ing of tbe housing complex, Khobar 
Towers, the U.S. officials said 

“We think he’s a major player, and 
we have had interest in him for some 
time, ' ' a law enforcement official said 

The bombing occurred after an ex- 
plosives-laden truck was driven near a 
fence that surrounded the housing com- 
plex. The driver of die truck was seen 
getting into a car idling nearby shortly 
before die bomb was detonated 

Saudi officials told Washington last 
fall that they had captured the man who 
drove the truck. Two U.S. law enforce- 
ment officials said that while they be- 
lieved that Mr. Sayegh was the driver of 
a vehicle involved in the bombing, they 
could not say which vehicle. 


BRUSSELS (Reuters) — Workers 
from die Belgian plant that Renault 
wants to shut blocked the Brussels-Lon- 
don Eurostar train at the Belgian cap- 
ital’s South Station for a brief time 
Monday to protest the closure. 

About 200 workers from the Vil- 
voorde plant near Brussels placed bag- 
gage trolleys across the line in front of 
the train, threw firecrackers and 
chanted Vilvoorde workers have oc- 
cupied the car plant since the announce- 
ment Feb. 27 that the profitable factory 
would be closed by July. 


Hong Kong signed an agreement 
with Thailand on Monday to extend 
their air links beyond the Chinese 
takeover of the British colony on 


Bangui Calm Again 
After Clashes Kill 11 


Funchal aitport on the Portuguese 
island of Madeira was closed Monday 
for the second consecutive day because 
of strong winds. (API 


France will begin enforcing a ban 
on trucks driving on Sundays and bank 
holidays, the Transport Ministry said 
Monday. Offenders face a 900-franc 
($160) fine as of this week. (Reuters) 


Sweden and Estonia agreed to elim- 
inate visas for citizens traveling to each 
other’s countries. (AP) 


Corrections 


An article in the March 22-23 edition 
referred incorrectly to changes contem- 
plated by the Group of Seven industrial 
nations. With Russia playing a larger 
role, the group’s June meeting in Den- 
ver will be called the Summit of Eight. 


WEATHER 



U.S. and Paris f 
Launch Joint 

Bid to Resolve 


Crisis in Zaire? 


PARIS — Finance and tbe.Tbtitai 
States have launched a joint (faplflfi&anfc 
bid to push for a cease-fire and ta%> 


Zaire ana reoei* nguuus 
him Officials said here Monday. 

U.S. and Ktench.ambasworswere 
arguing the case m some 20 AniCap 
countries before a summit meeting.# 
the Organization of African -Unity m 
Lome, Togo, on Wednesday , me French 
Foreign Ministry said. - v 

Tbe joint Paris-Washmgton move 
demonstrates a growi^ closeness of the 
two countries’ positions on Zaire, in 
contrast to last year when they shaqjty 
disagreed over the sending of . an qx- 
trematifma] force to tbe region. , -*• 

Last week, on the eve of his return to 
Zaire, Marshal Mobutu called for ^a 
cease-fire and all -party negotiations, 
but the rebel leader, Laurent Desire 
Kabila, said there could be no trace 
before talks began. _ 

The French Foreign Ministry spokes- 
man, Jacques Rummelhardt, said the# 
“joint initiative” by Pans and Wash- 
ington was aimed at stressing “the im- 
portance we attach to the, ending of 
hostilities and the commitment to ne- 
gotiations.” ... 

Mr. Rummelhardr said: “After the 
return of President Mobutu to K i ns hasa 
and his call for negotiations to seekra 
solution, to the crisis, the international 
community is making every effort, to 
persuade all sides to accept a cease-fire 
and negotiations without delay. . ,> 

“On the eve of tbe Lome ineeting, 
joint French-American steps arebeing 
tairwi today in certain African coma- 
tries.” 


lose vie reportedly has roiled the gov- 
erning Democratic Party of Socialists, 
with a significant number of key mem- 
bers expressing dissatisfaction either 
because of pro-Serb affinities or per- 
sonal loyalty to the Serbian president. 

The Washington visit also backfired 
on Mr. Djukanovic when the State De- 
partment criticized what it termed the 
political trials of the leaders of 
Montenegro’s two most prominent op- 
position parties, Novak Kilibarda of the 
pro- Serbian People’s Party and Slavko 
Perovic of the pro-independence lib- 
eral Alliance. 

Charged with causing President Bu- 
latovic and the parliamentary speaker, 
Svetozar Marovic, “mental anguish” 
during the election campaign last fall, 
Mr. Kilibarda was fined the equivalent 
of S15.000 despite alleged judicial ir- 
regularities, including a lack of evi- 
dence and the absence of witnesses. In a 
country where the average monthly sal- 
ary is S175, such a fine represents 
* ‘money you can only dream about,” in 
a law st ud ent's words. 


Agence France-Presse 

BANGUI, Centra] African Republic 
— The streets of tins capital were 
largely empty Monday following a 
weekend of violence that left 1 1 people 
dead and 30 wounded. 

Three army mutineers, a Chadian sol- 
dier and seven civilians were killed in 

of thtfwest African peacekeeping force 
here. Tbe mutineers accused the Chadi- 
ans of instigating the violence, but the 
Chadians said they fired in self-defense. 

Tbe mutineers tried last year to topple 
President Ange-Felix Patasse, and tbe 
West African force is part of an effort to 
restore peace. 


port efforts by the UN envoy to the 
Great Lakes region, Mohamxngjl 
Sahnotm. as well as the role of African 
countries in seeking a solution. 

The African countries being pressed 
over the issue include the 17 roembc&^f 
of the Or ganizatio n of African Unity Is 
co nflict -prevention body, who will hold 
discussions in Lome on how to resolve 
the Zaire crisis. . 

U.S. and French diplomats will also 
push the case with other countries tfrai 
are not members of this body, bat fogt 
attended a summit meeting on the crisis 

in Nairobi last week. 

In Kinshasa, die president receivejl 
the leaders of Parliament at his res- 
idence Monday and accepted tbcjr 
ouster of his- prime minister, state radio 
reported. . • ..f 

Marshal Mobum’s private secretary, 

Lando Kota-Mbongo, confirmed the. Re- 
port that he had agreed with the law- 
maters' vote last week to dismiss Prime 
Minister Leon Kengo wa Doudo. 

Parliament accused Mr. Kengo of 
mishandling the war. The Mobutu gov- 
ernment had initially rejected last 
week’s vote to oust him, calling it uq- 
constituticmaL 

Supporters of Etienne Tshisekedit a 
popular opposition leader and longtime ' 
Mobutu foe, say he should take ovct gs * 
prime minister and begin talks with the’* 
rebels. Parliament elected Mf. 
Tshisekedi prime minister in 1992, but 
Marshal Mobutu refused to confirm 
him, 

Mr. Tshisekedi has pledged to, ne- 
gotiate with Mr. Kabila, form a coalition 
government and prepare tbe country for 
its first multiparty elections. (AFP, AP.) 

■ Trial of Ex-Envoy to Regm ^ 

Zaire's former ambassador to Paris 
will go on trial Tuesday for the maa- 


Forecast for Wednesday through Friday, as provided by AccuWeather. 


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THE AMERICAS 


PAGE 3 


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America’s New Ethnic Powers Engage in Big-Bucks Politics 


By Dan Morgan and Kevin Merida 

Washington Post Servic e 

• WASHINGTON — The plains of South 
Dakota, home to a relative handful of Ameri cans 
of Pakistani or Indian origin, are far from the 
tensions of the Asian subcontinent. But last fall, 
they became a battleground of sorts between the 
two rival powers. The weapons were not nuclear 
.devices, which India and Pakistan both are re- 
sported to possess, but campaign dollars. 

In an example of the role that newly emerging 
^ethnic constituencies have come to play in U.S. 
.politics. Senator Tim Johnson, a Democrat, and 
'die man be unseated, Larry Pressler, a Repub- 
lican, both raised serious money — at least 
3>1 50,000 each — from the respective com- 
.'munides in a race that was watched carefully in 
'New Delhi arid Islamabad 

Mr. Pressler, author of a foreign policy 
r amendment that resulted in a halt to U.S. military 
aid to Pakistan after 1990 because of its nuclear 
weapons program, unabashedly tapped Indian 
American donors around the country and ap- 
; pealed for funds in the leading U.S. Indian 
'American newspaper. Pakistani Americans, 
'hopeful of defeating India’s chief supporter in 
the Senate, poured money into Mr. Johnson’s 

‘Gray Areas 
Abound Amid [wt 

L-: 

Fund-Raising 
Allegations S 


campaign. Some 19 Pakistani Americans, most 
of them physicians, attended a Sept. 4 Demo- 
cratic fund-raiser for Mr. Johnson, to which 
President Bill Clinton came. 

The targeting of ethnic donors is at the center 
of the widening controversy over political fund- 
raising practices. The Democratic Party has re- 
turned more than S3 million in donations, much 
of it from individuals with ties to Chinese busi- 
nesses in Asia, and the FBI is investigating 
whether some of the questionable contributions 
were funneled from China. 

There is nothing illegal about Americans of 
any ethnicity contributing money to campaigns; 
it is only donations from foreign governments 
and ineligible foreigners that violate U.S. cam- 
paign laws. But the flurry of recent allegations 
has nonetheless drawn attention to die powerful 
role of ethnic contributions in American politics 
and the degree to which U.S. lawmakers, in 
catering to ethnic voting blocs, may become 
advocates for foreign powers. 

Yet. another concern is whether or not politi- 
cians may be taking advantage of their position 
in overseeing U.S. foreign policy to exact dona- 
tions. Last week. The Washington Post reported 
charges by a Democratic lobbyist for the 
Pakistan government that he had been "shaken 


down" for campaign contributions and 
threatened by Representative Dan Burton, a Re- 
publican of Indiana and advocate of cuts or 
freezes in U.S. development aid to IndiaL 

The story of America has been one of im- 
migrant groups emerging from the initial ordeal 
of economic survival to a more powerful po- 
sition of exerting political influence. Germans, 
Irish. Italians. Polish. Greek, Jewish and many 
others have followed that road. Now, new groups 
of politically active ethnics are emerging from 
the immigration wave that occurred after the late 
1960s. They have learned that, in the age of 
costly campaign advertising on television, 
money is the fastest route to recognition. 

A former Massachusetts governor, Michael 
Dukakis, demonstrated the money power of 
these groups in his 1 988 Democratic presidential 
campaign, raising by some estimates 15 percent 
to 25 percent of his total contributions from 
Greek Americans. Mr. Dukakis was the first 
Greek American to win a major party’s pres- 
idential nomination. Similarly, Jesse Jackson’s 
two presidential campaigns raised tens of thou- 
sands of dollars in small donations by tapping 
into a network of African American churches. 

The appeals of Mr. Dukakis and Mr. Jackson 
were based on an affinity through common her- 


itage. But many ethnic Americans have been 
drawn to the political process by a desire to 
influence policies that affect their homelands. 

Debasish Mishra, executive director of the 
Washington office of the India Abroad Center 
for Political Awareness, said political partic- 
ipation is on the rise: "As the community has 
matured there definitely has been interest in 
getting involved and making our voice beard.” 

Madhu Mohan, a Maryland endocrinologist 
who is chairman of the political action com- 
mittee of the American Association of Phy- 
sicians of Indian Origin, said Indian doctors held 
fund-raisers in 1996 to raise money for favored 
candidates, including Mr. Pressler. Mr. Mohan’s 
political action committee, however, focused 
only on U.S. medical issues affecting Indian 
doctors, such as concerns about discrimination 
by managed-care organizations and access to 
graduate medical education. 

Stephen Solarz. a Democrat and former rep- 
resentative from New York, was one of the first 
to recognize the potential for tapping the re- 
sources of an array of American ethnic groups in 
the 1980s. "My experience in fund-raising with 
various ethnic communities was that what was 
involved here was Americanism at its best," he 
said. "These people were, by and large, in- 


POLITICAL NOTES 


By Neil A. Lewis 

. New York Times Service 

r “* WASHINGTON — Each new rev- 
elation of how President Bill Clinton 
and his political associates raised dona- 
: iions for the last campaign has brought 
denunciations that their activities were 
unseemly, even unethical. 

'-But were they illegal? 

'- 'A review of relevant laws, and in- 
terviews with legal experts, suggests 
■ that it may be difficult to prove that any 
.crime was committed by officials in the 
^administration or the Democratic Party 
fbased on information known so far. But 
jStime of the activities could involve 
•infractions of the civil law. 

The latest disclosures concern coffee 
meetings at which Mr. Clinton acted as 
•host last year to help raise money for the 
[Democratic Party. Despite White House 
efforts to portray these events as some- 
t Uring less than overt fund-raisers, new 
documents show that the White House 
•closely monitored how much money 
Was expected from them and bow much 
"was raised. The documents, turned over 
‘Ib-Gongress -by Harold Ickes, a former 
senior political aide, and made available 
Saturday, show that the coffee meetings 
■fiad systematic fund-raising targets, of- 
ttin of $400,000 an event 

The coffees were one of five areas dial 
^have been scrutinized by the press, die 
-Justice Department and outside lawyers. 
•The others are: the Democratic National 
Committee accepting donations from 
foreigners; Vice President A1 Gore so- 
liciting donors while he was on federal 
•property, rewarding once and future 
'donors with overnight stay 5 hi the Lin- 

\ "coin Bedroom, and the first lady's chief 

/-Of staff accepting a check on behalf of 
Ibe Democratic National Committee. 

*■ ‘ These activities are governed by a set 
•of arcane and ambiguous laws, some 
dating to the 19th century. 

- ' ' Senior officials in die Justice De- 
apartment and the Federal Election Com- 
Tnission said it is almost certain, given 
■what is known about the fund-raising, 
that no criminal laws were broken. Tbe 
major reason that most experts believe 
■flbne of those known activities con- 
stitutes a crime is that all tbe donations 
-were made to the party, and not to a 
-specific candidate. The laws that pro- 
mbit activities like soliciting money 
while in federal office buildings seem to 
'explicitly exclude this "soft money," 

■ as these kinds of donations are railed. 

- * For example, the solicitation of 
■f ( tenors by Mr. Gore has produced much 

■ 'debate about whether it was illegal be- 
cause the vice president was on federal 
’property at die time. Mr. Gore has ar- 
■ghed that what matters was that die 
-people he was soliciting were not on 

'federal property because the law drafted 

■ih 1883 was designed to prevent polit- 
ical leaders from pressing people who 
jvorfc for them to make contributions. 

* ~ But under the law as amended in 1980 
and now interpreted by the Justice De- 
partment, that issue is not relevant. 'Hie 
law that governs where a solicitation 
ran be mate explicitly states that it only 
concerns contributions as defined by the 
Federal Election Campaign Act, which 
is accepted to exclude soft money. 

High Court Rebuff's 
v Sex Broadcasters 

The Associated Press 

- WASHINGTON — The Supreme 
Court cleared the way Monday for en- 
forcement of a federal law aimed at 
keeping children from watching sex- 
ori rated cable-TV channels that are only 
nprtly “scrambled" for ponsubsenbers. 

Upholding a lower court’s ruhng, me 
iustices rejected an effort by 


ICKVUilUUIUMUUiw o-— — - . . , 

the law’s enforcement while they chal- 
lenged it in court Tbe unanimous oe- 
xiskra was not accompanied by an opin- 
ion spring out the justices reasons. 

- Cable operators block, or scramble 
'sex-oriented channels for customers 

who do not subscribe. But 
said scrambling often was 
“children could see or hear 

'sex acts. The law natures 

to be fully blocked for nonsubsenbersj a 

root, they may show ‘‘““k?? 1 ., ^ 
grams only from 10 PAL to 6 AJVL 


1 Worst fhwr iZstrv Allies by the research firms of Peter Hart and Robert 

PTUI SI L/I/efj Dvic /xlllCs OUj Teeter, who conducted a similar survey in March 1995. 

WASHINGTON — AI Gore and h is advisers believe . “ w ® “« “> a 4 ra ° re traditional American 

he has effectively begun his comeback from what one ™ «g* ^ernmem. Mr. Teeter said, adding that 
termed "the worst mdraent of his vice presidency" — P eo P 1 ^ be k ved government had important things to 
the news conference, widely derided aTself-righteous Wbat they want, he said, is good government, 
and unconvincing, that he called to respond to charges {*; “ er leade jhiP- •ess politics, better management 
of dubious fund-raising practices. better expenditure of their money. (WP ) 

But several people close to Mr. Gore believe that one jrt • APT ■ i r »r q 

of his potential rivals for the 2000 Democratic pres- lOreign AJjQirS Merger PieOTf 
idential nomination. Senator Bob Kerrey of Nebraska. ° 

has seized on Mr. Gore’s fund-raising missteps to to WASHINGTON — The Clinton administration is 
establish his credentials as an alternative nominee. seriously considering a long-discussed overhaul of tbe 

Mr. Kerrey’s decision to hack away from support of government’s foreign-affairs agencies as part of an effort 
Anthony Lake, the president’s choice for CIA director, t0 accommodate the head of the Senate Foreign Relations 
and his public discussion of rhar decision, a Gore aide Committee, Jesse Helms, the North Carolina Republican 
said, was * ‘a sure sign that he thinks the president, and w ho is persistent critic of administration policy. 

A! with him. have been weakened by this fund-raising Tbe agencies under consideration for consolidation 
ruckus. " or merger into the State Department are the Agency for 

Mr. Gore remains the front-runner for the Demo- International Development, tbe Arras Control and Dis- 
cratic nomination in the next election, with 41 percent armament Agency and the U.S. Information Agency, 
support among all voters in a new Time magazine/CNN "It’s on a short fuse,” Vice ]*resident Gore said 

poll. But 49 percent of the same respondents said they when asked about the merger talks during an interview 
did not think he would make a good president. (NYT) with reporters traveling with him to China. (WP ) 

Government Gains Respect Quote/Unquote 


WASHINGTON — After years of poll data stressing 
what’s wrong with government, a new survey finds 
Americans optimistic that government could be more 
effective and work better for them. 

But only one in five poll respondents expressed con- 
fidence in the federal government, and the national 
government continues to enjoy less confidence than its 
state and local counterparts. The nonpartisan Council for 
Excellence in Government sponsored the survey of 1 ,003 


The chairman of the House Budget Committee, John 
Kasicb, Republican of Ohio, after the black natio nalis t 
leader Lours Farrakhan applauded a speech by Mr. 
Kasicb promoting self-help, welfare reform, family 
values and lower taxes: “I’ve learned in Washington 
that you not only have to protect yourself a gains t 
people who say bad things about you, but you also have 
to protect yourself against people who say good things 
about you." (WP ) 



Ma'fcWiboa/KeBlcn 

CAREFUL PROGRESS — A Secret Service agent 
adjusting President Bill Clinton's pant leg as he tried 
crutches in public after knee surgery on March 14. 


rerested in contributing to the development of an 
American foreign policy that reflected tbe view 
of whar our country was all about — namely a 
commitment to democracy and human rights." 

Many in Congress credit Mr. Solarz with 
developing the art of reaching out to ethnic 
Americans for funds. When he first became 
chairman of the House Foreign Affairs sub- 
committee on Asia in 1981, he "didn't have the 
vaguest idea that there was any money to be 
raised from Asian American interests.” 

In the mid-1980s, however, a group of 
Taiwanese Americans came to visit him. ‘ ‘They 
saw positions 1 was taking and said, ‘We would 
like to help you.’ And, of course, I was delighted 
a group had emerged They began to raise money 
for me. And then I began to think, ‘Hey. if 
they're willing to support me, maybe some of 
these other groups will.* " 

Mr. Solarz proceeded to court Americans of 
Indian, Philippine, Vietnamese, Korean and 
Cambodian origins, using the ethnic press and 
obtaining mailing lists for solicitations aimed 
mainly for small contributions. A Congressional 
Quarterly article estimated that this kind of for- 
eign-policy based fund-raising among ethnic 
groups helped him raise $760,000 in small dona- 
tions in the 1987-1988 campaign cycle. 


Away From 
Politics 

• A woman protesting the 
killing of hundreds of 
bison outside a national 
park dumped animal or- 
gans on a table, spraying 
blood on Agriculture Sec- 
retary Dan Glickman, Gov- 
ernor Marc Racicot of 
Montana and two U.S. sen- 
ators in Gardiner. Montana. 
She was charged with a 
misdemeanor assault. (AP) 

• An explosion that 

sparked a fire in a 20-story 
public housing develop- 
ment in New York, left 
more than 100 people 
homeless. (AP) 

• The actor BiO Cosby 
and his wife, Camille, are 
demanding a retraction 
from the National Enquirer 
over statements suggesting 
that Mrs. Cosby hired gun- 
men to find her only son’s 
killer, tbe family's publicist 
said. "The Cosbys would 
never take the law into their 
own hands," said the pub- 
licist, David Brokaw. (AP) 


Caring for Old Relatives: 
1 in 4 Families Does It 


By Susan Levine 

Washington Post Service 

NASHVILLE. Tennessee — Tbe dra- 
matic effect on the United States of 
rapidly graying population is hitting 
home, with a nationwide survey showing 
nearly one in four households involved 
in the often-stressful, time-consuming 
task of caring for an aging relative. 

The comprehensive look at care-giv- 
ing found that 22.4 million families are 
providing physical and emotional as- 
sistance to older relatives or friends — a 
threefold increase from a decade ago. 

Their help, whether out of love or duty, 
requires significant commitment: The av- 
erage caregjver devotes 18 hours a week, 
although 4.1 million caregivers provide 
at least 40 hours a week. And typically, 
they do so for more than four years. 

"We're not talking about the son who 
palls bis mother on Sundays and says, 
‘How are yoa?' We're talking about 
enormous amounts of time," said Gail 
Hunt, executive director of die National 
Alliance for Caregiving, which conduc- 
ted the study with the American As- 
sociation of Retired Persons and Glaxo 
Wellcome, die prescription drug firm. 


The picture it draws of American 
families belies the growing. perception 
that they are unwilling to take respon- 
sibility for their own and should ease 
some fears of intergenerational con- 
flicts. According to die report, care- 
givers spend about $2 billion a month 
out of pocket on groceries, medicine and 
other aid to their relatives. 

"This survey raises some very im- 
portant points," said Robyn Stone, act- 
ing assistant secretary for aging at tbe 
Department of Health and Human Ser- 
vices. "Think about tbe demographic 
imperatives of a baby-boom generation, 
when one in five people will be over 65. 
We haven’t even begun looking at the 
implications of that,' ’ 

This latest study found that 64 per- 
cent of caregivers are full- or part-time 
workers and that their jobs often suffer 
because of responsibilities to older re- 
latives. Some eventually quit com- 
pletely or take early retirement. 

Tbe costs of absenteeism, shortened or 
interrupted workdays, decreased pro- 
ductivity and replacing employees who 
leave are at least $1 1.4 bilboo a year — 
and may exceed $29 billion, according to 
a separate analysis of die survey results. 


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Renewing Debate, Panel Urges Yearly Screening 



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By David Brown 

Washington Post Service 

WASHINGTON — The American 
Cancer Society has recommended dial 
women in their 40s undergo annual mam- 
mography, re-entering an impassioned 
on tbe uses of the most common 
X-ray screening test for breast cancer. 

The advice to women in that age 
group differs significantly from that 
offered recently by a panel of experts 
convened by tbe federal government, 
and favors even more aggressive use of 
the rest than the cancer society pre- 
viously recommended- 

The announcement, made Sunday at a 
medical conference, sharpened die lines 
of disagreement in the increasingly emo- 
tional medical dispute over the use of 
mammography in relatively young wo- 
men. On this one issue, at least, it places 
the American Cancer Society — tbe 
country’s largest private advocate for 
cancer research, testing and treatment — 
in opposition to the National Cancer 
Institute, the government’s main agency 
for cancer research and education. 

The conflicting recommendations 
also represent a rare public dimlay of 
how medical experts often find different 
"meaning" in the underlying scientific 
data that they all agree upon. 

At issue is whether mammography at 


that age effectively detects life-threat- 
ening breast cancer, thereby justifying 
the expense and medical risk of both the 
test itself and the procedures that wo- 
men with “abnormal" findings may 
undergo. 

The cancer society previously recom- 
mended diar mammography be done 
yearly or every other year be ginnin g at 
age 40. It now advises the test be done 
yearly — a substantially more aggres- 
sive approach than recommended by 
several other organizations. 

"We make this recommendation 
forcefully, unambiguously and with no 
reservations.” said Myles Cunning- 
ham. president of tbe cancer society and 
a cancer surgeon. 

When the National Cancer Institute 
took up tbe issue in January, a panel of 
experts concluded die evidence of mam- 
mography’s benefit for women aged 40 
to 49 was not strong enough to make a 
public -policy recommendation that wo- 
men get screened at that age. Instead, a 
woman should decide whether to get a 
mamm ogram at that age based on her 
own calculations of risk and benefit, die 
panel concluded. 

That finding was immediately con- 
troversial, with even the head of the 
National Cancer Institute, which organ- 
ized the conference, saying he disagreed 
with the conclusion. 


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The Twinlock winding crown of a Rolex screws down on 
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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 


ASIA/PACIFIC 


Beijing Assails Taipei 
Over Dalai Lama’s Visit 


Qmq&db! OmShfFm Dapadut 

BEIJING — China accused Taiwan 
of creating new divisions between 
Taipei and Beijing by allowing the 
Dalai Lama to visit the island, state 
radio reported here Monday. 

By inviting the Dalai Lama, the 
Taiwan authorities “did not take note of 
warnings by die Chinese government,’ ' 
the report said, adding that the Tibetan 
spiritual leader “has to support the 
Taiwan leaders.” 

The Dalai Lama arrived in Taiwan on 
Saturday for a six-day visit. On 
Monday, be had talks with the Taiwan 
interior minister and on Thursday he is 
scheduled to meet President Lee Teng- 
hui 

“Taiwan authorities say they wish to 
improve relations between the two sides 
of the Taiwan Strait, bat in fact they 
have only adopted initiatives which 
place obstacles in the way of improved 
relations,” the radio said, quoting ana- 
lysts. 

The measures constituted “an open 
affirmation of independence by Taiwan 
authorities, who are looking for ways to 
create divisions and harm national 
unity,'' the report said. 


Responding to a report that China 
might be organizing new war games in 
three of its provinces near Taiwan in 
April to protest the Dalai Lama’s visit, 
Taiwan's Defense Ministry said 
Monday that it had detected no signs of 
such planning, but said it would monitor 
the situation closely. 

“So far, we have not detected any 
signs that Communist Ouna will hold a 
military exercise,” said die Defense 
Ministry spokesman, Kune Fan-ting. 

The report, in the United Daily News, 
a Taiwan newspaper, quoted military 
intelligence as saying (hat Beijing 
planned to hold exercises in April in 
coastal Fujian, Guangdong and Zheji- 
ang provinces. 

Officials in Fujian, just across the 
Taiwan Strait, cast doubt on die report, 
saying they were not aware of any plans 
to hold war games along the coast in the 
near future. 

“At the moment, I have not heard of 
any plans to hold war games,” a Fujian 
provincial official said. 

The newspaper said the military drill 



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Detain Monks. 


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DETAINED — Tim Spicer, head of a firm supplyingjmercenaries in Papua New Guinea’s Bougainville war, 
arriving under escort at Port Moresby court Monday. He was charged with illegal possession of a firearm. 


Talebau Dismisses 
Beard-Trimmers 


Reuters 

KABUL — The Talebau move- 
ment of Afghanistan has fired 65 
government employees for trim- 
ming their beards, which are viewed 


by Muslims as a symbol of piety, a 
Taleban official said Monday. 


Talebau official said Monday. 

“We have told the people re- 
peatedly to abide by Islamic law 
and not to trim their beards,” said 
Maulawi Rafiullah Muazin, pres- 
ident of the department for Pro- 
moting Virtue and Preventing Vice. 
“We received an order limn the 
Amir al Momineen to dismiss those 
who did not obey.” 

Amir al Momineen. or Leader of 
the Faithful, refers to Mullah Mo- 
hammed Omar, die head of the 
Taleban militia. 

Mr. Muazin said no one in the 
government was exempt from the 
Taleban’s regulations. The militi a 
seized Kabul in September and now 
controls more than 75 percent of the 
country. 


missiles, sea and air blockades, landing 
exexcises or anti-missile drills. 

Beijing would decide the exact dates, 
location and scale based on the state of 
Taiwan-China relations, it said. 

Taiwan share prices and the Taiwan 
dollar plunged on Monday on jitters 
over die possible exercises. 

The Dalai Lama said Monday that his 
visit showed that he was simply dying 
to bring Tibetans and Chinese together. 
He said at a news conference his visit 
would help break down “feelings of 
distance” between Tibetans and 
Chinese. 

He reaffirmed a willingness to open 
talks with China unconditionally , but 
complained that every move he makes is 
labeled “splittist" by China. 

The Dalai Lama insists his visit 
shows that he agrees with Beijing's con- 
tention that Taiwan is part of China and 
should not become a separate, inde- 
pendent state. 

Taiwan welcomed the 1959 Tibetan 
uprising and invited Tibetans to settle 
here. But ties soured over accusations 
that the Nationalist Chinese were trying 
to subvert the govensneat-in-exile, and 
contact was severed for 30 years. 

Initial impressions of Taiwan had 
“not been very positive.” the Dalai 
Lama said. 

But he added he that believed that 
President Lee was sincere in seeking 
better ties and aiding Tibetans in exile. 

(AFP. Reuters. API 


BRIEFLY 


Australian Senate Overturns 
Territory's Euthanasia Law 


have to be reported, the rules said. Business contracts and 
appointments to management posts in foreign-, Hong 
Kong- or Taiwanese-funded firms would also have to go on 
record, the rules said. ( Reuters ) 


CANBERRA — The Australian Senate voted early 
Tuesday to overturn the world's only law allowing ter- 
minally ill patients to commit suicide with a doctor's 
help. 

The national anti-euthanasia bill will now go back to the 
House of Representatives, which had previously voted to 
overturn a territorial pro-euthanasia law by a wide margin, 
and is expected to do so again. 

Four people have committed suicide under the Northern 
Territory law since it took effect in July. Terminally ill 
people must have the support of three doctors, including a 
psychiatrist, before they can obtain permission to die. The 
legislation applied only in the Northern Territory 

The Senate passed the bill Tuesday by a vote of 38 to 33. 
The national Parliament has the constitutional right to strike 
down territorial and state legislation. (AP) 


Execution of 5 Uighurs Denied 


BELTING — Chinese officials in the northwestern region 
of Xinjiang dismissed reports Monday that five ethnic 
Uighurs accused of leading a riot there last month had been 
executed. 

‘ ‘This is really laughable,” said an official of die regional 
Communist Party Committee. “We have also heard a lot of 
rumors, bat we haven't finished dealing with this case.'' 

A Uighur exile group in Kazakstan, which shares a border 
with Xinjiang, said China had executed five Uighurs ac- 
cused of involvement in riots that rocked the town ofYining 
in the mainly-Mnslim region in February. (Reuters) 


Ageitee Francc-Presse 

RANGOON — The BurnreseaailiSK . 

hies arrested- 100 monks who st ga ggp^ 
mosque here, witnesses said Monqfe^ a 

A government source acknogj^ | 
the detentions late Sunday. bta^rtiSl 
Monday that ‘‘ody a 
monks had been questioned and nutf'aE . 
had been released. 

The monks went to the roo&qafr-ra 
Ahlone township late Sunday atterse^ 
curity forces stationed there harfgoigg 
their regular rounds of the ai ta^ Tgfe 
- government has ■ ' increased- ; SetXttpjFc 
around mosques and Buddhist monas- 
teries since anti-Muslim vandalism.® •• 
the past two weeks. - 

Hundreds of residents in tne mcftw 
but mostly Buddhist neighbQdfcti& T : 
looked on as the monks stoned U 
mosque and then as they .were 
away in three army trucks. ... 

Several mosques were vap ri a ifzn d 
and Muslim property was dam ag ed fey 
monks in Rangoon over the weekeorfis ■ 
religious tensions spread to the capi&jl j 
from Mandalay in the north. 

The pablic has not joined die anfir- . 
M uslim attacks , which began in Ma&- ' 
daisy two weeks ago, apparently af&r 
Muslim suspects arrested in toe attempt-. . 
ed rape of a Buddhist giii were released. ; 

But analysts said young monks m 
Mandalay were already angry because - 
the authorities had thwarted demonstrft- . 
tions to protest the reported deaths in 
prison of 16 monks who had been a*- ■ 
rested at religious protests. ; ?■. . 

A Burmese military intelligence of- 
ficial denied that any monks had dSedih 
prison. 

■ EU Ends Trade Benefits : 


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New Rules for Chinese Officials 


Tamil Separatists Attack Ships 


The European Union agreed Monday 


BEIJING — China tightened controls over government 
officials Monday, requiring them to report the financial 
affairs of their families as well as marriages or business 
involving foreigners. 

The rides drafted by the working office of the ruling 
Communist Party and the Stale Council, or cabinet, require 
officials to submit written reports on personal activities 
such as renting out housing or marrying a foreigner. 

Real estate deals, including the buying, selling or renting 
of housing by officials and their immediate families would 


COLOMBO — Tamil separatists attacked a convoy of 
military cargo ships off the Sri Lankan coast Monday, 
setting off a battle that military officials said killed ai least 
80 guerrillas and one sailor. 

Guerrilla radio messages admitted to at least 30 rebel 
deaths in die battle. 40 kilometers (25 miles) off the north- 
eastern coast near tire rebel-controlled town of MuUahtivu. 

But a military spokesman. Major D. Ranawaka, said at 
least 80 to 100 rebels were killed in the two-hour sea battle. 
The convoy was carrying ammunition and other supplies 
from the eastern port city of Trincomaiee to tire isolated 
northern Jaffna Peninsula when it was attacked. • (AP) 




ports to protest the use or forced labor 
there, The Associated Press reported 
from Brussels. r sJ L 

The 15 EU foreign ministers’ 
proved without debate their corarms-:' : 
sion’s proposal to remove Burma fro® 
die list of developing nations that enjoy 
special trade advantages. 

The end of trade preferences is the 
latest measure imposed by the EU in 
response to rights abuses in BunDa-EU 
nations have ended military coopera- 
tion, shrunk -diplomatic missions and 
refused to negotiate new trade deals! •" 


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TV 


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INTERNATIONAL ADVERTISERS... 


| Singapore: A Good Place to Lose Your Wallet 


Departing and transfer passengers watch live news 
on xhe hour, sports, fashion, music and film. 

Near die duty free shops, in the waiting areas and at 
ah gates. For advertisers a unique opportunity to reach 
this captive audience. 

As experienced by Nacionale Nederlanden. 


For information contact: Mr. Arjan Siccama. 
Lentz 3£ Flens Total Communication. 

Phone +31 297 26 4130. Fax +31 297 26 3458. 


A unique medium at a unique location. 


Return 

HONG KONG — Nineoutof 10 citizens of 
Singapore returned lost wallets that they had 
found, cash and all. but in Hong Kong’ only 
three of 10 wallets were returned in an “hon- 
esty test” carried out in Asian cities by Read- 
ers DigesL 

Larger cities fared worst on the honesty 
index, while people in smaller places returned 
the planted wallets with regularity all over 
Asia, the experiment showed. 

Readers Digest scattered 140 wallets all 


over Asia, each containing a namfe/focal 
address and phone number, family pictures, 
notes, coupons and cash ranging from the 
local equivalent of $10 to $50, and waited to 
see how many would be returned. ’ 

There was little correlation between hon- 
esty and wealth or status, the survey found. 

In all, about 57 percent of the wallets were 
returned In previous similar experiments, 58 
percent of the wallets were returned &. 
Europe, and 67 percent were returned inTfe 
United States. 


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PAGE 3 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, !VLARCH 25, 1997 


PAGES 


ASIA/PACIFIC 


Le Pen’s Shadow Over Strasbourg 

City of European Ideals Faces Growing Ethnic Tensions 


By Craig R. Whitney 

New York Times Service 

STRASBOURG — Tourists know 
this eastern French city as a symbol of 
post-World War II French-German re- 
conciliation as well as for its soaring red 
sandstone cathedral and its delightful 
'Alsatian wines and restaurants. 

But it is also a place of harsh contrasts. 
I y.Here the current national obsessions 
■with immigration, crime and unemploy- 
'.ment — and the far-right National Front 
■ — are played out among the poor in 
ethnically mixed urban housing projects 
. far from the beaten tourist paths. 

Among them is Neuhof, on the south 
end of town. Essid Hicham’s father ar- 
rived there from Tunisia 20 years ago, 
■looking for work as a mason in the wave 
-of North African immigration that had 
.begun in the early 1960s. 

Mr. Hicham, who was 12 ai the rime, 
could not speak French, and when the 
Jamily moved to Neuhof and settled in 
■one of the low-income housing projects 
.that ring Strasbourg, he~ quickly 
floundered ai school. 

• . “They kicked me out and I started 
.stealing,*' he said. "The neighborhood 
.is full of drugs and drug dealers, and 
r. most people my age don't even think 
* about working. They get welfare, or they 
steal and live off that.” 

.. Life was hard for a family of eight 
.children living in five cramped rooms. 
Mr. Hicham’s older brother robbed a 
bank and was expelled ro Tunisia. He 
.himself did two stretches in jail, he said, 
one for one year and the other for 18 
-months, both for theft. 

.. Now he is trying to start over, with the 
help of Eric Peytavin, a former rugby 
star who formed a business called Eipis, 
a stale-supported enterprise that helps 
■disadvantaged young people find per- 
manent jobs. Mr. Hicham is living in an 


apartment in a freshly spruced-up hous- 
ing project on the rue du Commandant 
Francois, one of scores of complexes 
that the ciry has rehabilitated *ince 1 989 
ar a cost of up io SID million a year. 

The veiled Muslim women "walking 
by on a recent day took little notice of the 
graffiti already spray-painted on a 
gleaming white wall. 

"Death to the cops,” reads one. An- 
other calls for "death to dealers of 
came," drug slang for the heroin that 
plagues neighborhoods like Neuhof. 
where foreigners and French residents 
do nor mix and at night the streets belong 
to rival gangs. 

On the surface, Neuhof appears to be 
just what the National From says it is: a 
breeding place for crime and ethnic ten- 
sions caused mainly by immigrants. 

“Strasbourg is in danger ol becoming 
like Los Angeles." complained 
Stephane Remy. a former hoiei recep- 
tionist. Mr. Remy, 26. who lives nearby 
in Lingolsheim. is a militant supporterof 
the National Front and says he is proud 
that his pony will huld its convention 
here over Easter weekend. 

"One day there's going to be a tidal 
wave oF reaction." he' added, "and we’ll 
win power.” 

In r he last presidential elections, in 
1995. the party 's leader. Jean-Marie Le 
Pen. won nearly 26 percent of the vote, 
one oF his strongest showings in the 
country, in the Lower Rhine department, 
the administrative area in and around 
Strasbourg. 

In anticipation of next year's par- 
liamentary elections. France's conser- 
vative government recently moved to 
tighten up immigration laws and further 
slow the flow of immigrants. This pro- 
voked intellectuals io accuse the gov- 
ernment of morally capitulating to the 
National Front. 

Now there is fresh outrage here over 


the National Front’s convention, which 
will be held near the European Par- 
liament, the European Court of Human 
Rights and other powerful symbols of 
the ideals of the new Europe. 

Thousands, perhaps tens of thou- 
sands. from all over France plan to 
demonstrate against the National Front 
when it meets, and the demonstrators 
will be led by the woman who gave it 
permission to hold its convention in her 
city: Strasbourg’s Socialist mayor, Cath- 
erine Trautmann. 

"I banned a National Front election 
rally here in 1992." she said in an in- 
terview in her office in Strasbourg's 
Germanic-looking city hall, "but I 
learned then that the law gave me no real 
authority to do so. Since we can’t forbid 
the Front's convention here, we can at 
least make clear why we disapprove of 
it. which is because the National Front is 
trampling French republican values un- 
derfoot.’’ 

About 250,000 people live in Stras- 
bourg. 14 percent of them foreigners, 
including North Africans and Turks as 
well as many Italians. Germans and oth- 
er Europeans who over rhe years have 
nude it one of the most sophisticated and 
cosmopolitan French cities outside of 
Paris. Unemployment here is 10 percent: 
the national average is 12.7 percent. 

Nevertheless, Mayor Trautmann said, 
the city has 75 percent of the welfare 
cases in the Lower Rhine department, 
and as many as 25 percent of die young 
people living in the housing projects are 
jobless. 

Her administration began spending 
more money on the rehabilitation of 
apartments in the suburbs, she said, to 
keep the quality of life from deteri- 
orating, and the city is encouraging a 
sense of community by building librar- 
ies and cultural centers in many of the 
most stricken neighborhoods. 



Fnki-enLn-Rrulff't 


Two women trying to flee as police and protesters clashed in Minsk at a rally of 10,000 people led by the 
opposition Belarussian Popular Front. The police said 81 people were arrested and II officers were injured. 


U.S. Protests to Belarus on Envoy’s Ouster 


Agent* France- Presse 

MINSK. Belarus — The United 
States lodged a protest Monday over 
the expulsion of one of its diplomats 
from Belarus after he was arrested at an 
opposition demonstration and accused 
or working for the CIA. 

The expulsion was the latest round 
in a growing dispute between Minsk 
and Washington. On Friday, the United 
States suspended $40 million in aid to 
Belarus because of what it called hu- 
man-rights violations under President 
Alexander Lukashenko, who has 
forced through constitutional changes 
to amass extensive powers. 

The diplomat, who was briefly de- 


tained at a banned opposition protest 
Sunday, "has been declared persona 
non grata and given 24 hours to leave the 
country,” said Vasil Baranov, secretary 
of the Belarussian security council. 

"The American diplomat is a CIA 
agent," he said. 

Belarussian authorities identified the 
diplomat who was expelled as Serge 
Alexandrov, first secretary at the em- 
bassy. A U.S. Embassy spokesman said 
the U.S. ambassador here had made a 
‘ ‘strong protest” to the authorities and 
had informed "the highest levels" of 
the Stale Department in Washington. 

The diplomat was "unjustly and il- 
legally detained by Belarussian author- 


ities while carrying out normal dip- 
lomatic functions entirely in keeping 
with his diplomatic duties.” the em- 
bassy spokesman said. "The allega- 
tions were totally groundless.” 

The spokesman confirmed that the 
diplomat had been expelled. 

“f think he will leave today.” he 
said. The embassy said it could not 
confirm the identity of the diplomat. 

About 10,000 opposition supporters 
marched through central Minsk on 
Sunday on their way to a rally marking 
the 79th anniversary of the founding in 
1918 of the short-lived Belarus repub- 
lic. which was forcibly incorporated 
into the Soviet Llnion. 


6 EU Nations Draft a Defense Flan 


Reuters 

- PARIS — France and Italy, on the eve of 
.the 40th anniversary of the European Union’s 
.founding Treaty of Rome, outlined a joint 
initiative Monday that had been launched by 
'six EU members aimed at gradually building a 
common European defense policy. 

.. Foreign Ministers Herve de Chare tie of 
Trance and Lamberto Dini of Italy, in an 
.article in the newspaper Le Monde, said the 
initiative called for all 15 EU members even- 
■tually to subscribe to the mutual-security 
guarantee contained in the founding treaty of 
die Western European Union defense group. 

. The ministers said they intended to use an 
ahnjyer$aiy meeting in Rome on Tuesday to 
give ""a decisive impulse to the negotiation 
; under way.” 

They said the meeting should bring agree- 
iinenx on plans to make a common foreign 
policy more effective by establishing a policy 
planning unit, incorporating peacekeeping 
.missions into the treaty and creating a post of 
high representative for EU foreign policy. 
r But the thrust of their proposal is to gradu- 
ally incorporate the 10-nation Western Euro- 
pean Union, founded in 1948, into the Euro- 
ipean Union "to make defense no longer a 
theoiy but a real prospect” 


Britain has threatened to veto the incor- 
poration of the WEU into the EU. arguing that 
the two bodies do not have the same mem- 
bership and that the European Union is not an 
appropriate forum for defense matters. 

Finland. Sweden and Austria, traditionally 
neutral nations that joined the EU only re- 
cently and are not NATO members, also op- 
pose being forced into a defense pact. 

Mr. de Charette and Mr. Dini said such 
concerns could be addressed by making the 
change in stages, with the WEU and the EU 
sharing certain institutions during a transi- 
tional period. 

"in this spirit a group of countries — 
France, Germany. Belgium. Luxembourg, 
Spain, Italy — suggest a route involving sev- 
eral stages and a method: giving the council of 
heads of stale and government the decision to 
move to each new stage,” the article said. 

The ministers also said that this month’s 
crisis in Albania had been another tesf case for 
EU foreign policy and had highlighted “the 
need for the European Union to have more 
effective analysis and forecasting instru- 
ments.” 

They also said the EU should define ' 'com- 
mon strategies” on areas of fundamental joint 
interest ! 


BRIEFLY 


Slovakia Calls Hungary 
At Fault in Dam Dispute 

THE HAGUE — Slovakia accused Hun- 
gary on Monday of causing a long-running 
dispute over the diversion of the Danube's 
waters for a hydroelectric power project by 
failing to honor legally binding commit- 
ments under a bilateral treaty. 

A lawyer for the Slovakian Foreign Min- 
istry, Peter Tomka, told the International 
Court of Justice that Hungary had invoked 
environmental concerns to obscure legal 
issues at the heart of the dispute. 

"This is a treaty case." Mr. Tomka told 
the Uni ted Nations court. “It primarily con- 
cerns Hun g ary's failure to carry ^ out its 
obligations under the 1977 treaty.” 

He was speaking at hearings on the Gab- 
cikovo dam project that provides 1 0 percent 
of Slovakia’s electricity, but has led to 
strained relations between Budapest and 
Bratislava. „ , 

The Slovak dam was originally part of a 
1977 plan agreed on by the governments of 
Czechoslovakia and Hungary. But Hungary 
, suspended work on a companion dam 
-\ downstream at Nagymaros in 1989 after 
pressure from environmental groups, and m 
1992 it pulled out of the project altogeth- 
gr. 

Slovakia pressed ahead with the hydro- 
electric scheme at Gabcikovo after its split 
from Czechoslovakia in 1993 but it agreed 
to submit the dispute to the UN court 
It says Hungary broke its part of the 
agreement and should pay damages to 
Slovakia, arguing that Budapest made the 
environmental problems worse by halting 
construction of the Nagymaros darn which 

offset UK (*'££> 

Belgians Find New Bag 
In Body-Parts Case 

BRUSSELS — The Belgian police, 
searching for clues after the discovery of 
trash bags containing the surgically sev ^ 
limbs of three women, found a ww bag 
Monday with what media reports described 

^fiuTbags* containing the iitnbs of the 
three victims were found Sa f^ a t L b / ar . 
policeman under a bndge erossmg 
is-Brussels railroad, in the southern town or 

^Nbdetails were immediawiy avaUableof 
the exact contents of the 10* .!■»*■£ 
Monday, or whether it might help the po 


identify the victims. The heads and torsos 
have not been found, and the police on 
Monday widened the search area. 

The public prosecutor at the nearby town 
of Mons, Pierre Honors, said the severed 
arms and legs had been transferred to a 
hospital for scientific analysis. But he said 
identification could take some time. 

"It will be slow: at least 1 5 days,' ’ he told 
RTBF television. ( Reuters ) 

Romania Is on Track 
For E U Membership 

BRUSSELS — European Union foreign 
ministers pledged their support Monday for 
an ambitious financial and political reform 
program designed to put Romania on track 
for eventual EU membership. 

At a news conference. Hans van Mierlo. 
the Dutch foreign minister, said the Union 
was "prepared to support" Romania with 
"a view towards preparing for accession" 
to the 15 -nation bloc. The Netherlands cur- 
rently holds the rotating EU presidency. 

Joining the EU and the North Atlantic 
Treaty Organization are priorities for Ro- 
mania, whose government is pushing 
dirough a package of reforms to liberalize the 
economy and attract Western investment. 

The EU foreign affairs commissioner, 
Hans van den Broek. said Monday that the 
Union was "very much satisfied with the 
reform programs that have been forwarded 
by the Romanian government-” 

Last week. EU finance ministers author- 
ized loans of up to $80 million to Romania 
in recognition of the country ’s reform effort 
so far. (API 

Tunnel Is Discovered 
To IRA Wing at Prison 

BELFAST — Staff at the high-security 
Maze prison near Belfast have uncovered a 
tunnel leading to a wing bousing Irish Re- 
publican Army prisoners, officials at the jail 
said Monday. 

A spokesman for the Northern Ireland 
Office said in London that the tunnel had 
been sealed and that all prisoners had been 
accounted for. He added that an inves- 
tigation into the incident was under way. 

The Maze is the biggesi detention center 
for terrorists in Western Europe, with 500 
prisoners who include 279 IRA or Irish 
National Liberation Army detainees. 

The tunnel was the worst security lapse to 
occur at die jail since 3S IRA prisoners 
broke out in 1983. (AFP) 




A STOPOVER IN SEVILLE CAN SATISFY A PASSION 
FOR THE MOST PALATIAL OF LIFE’S TREASURES 


The capital of Andalusia is arguably the most beautiful city in Spain. Its hidden 
delights and unique character are joys shared by its people and its visitors. 







PAGE 6 


INTERNATIONAL HERALD TRIBUNE, TUESDAY. MARCH 25, 1997 


INTERNATIONAL 


Pacific Island Bends Time (Zones) to Reach 20(H) First 


By Nicholas D. Kristof 

New York Tima Service 


TARAWA, Kiribati — Miles and 
miles from nowhere in the midst of the 
Padfrc Ocean, this tiny island nation is a 
drowsy place where barefoot fishermen 
flit about the coral reefs in outrigger 
canoes. 

Hardly anyone visits Kiribati, and 
thirsty foreigners and local residents are 
spuming dreams of the next ship due in 
port, for die country recently ran out of 
beer. 

But while Kiribati may seem back- 
ward, in one way it is ahead of every 
other country in die world — hours 
ahead. Because of a bit of fiddling with 
the international date line, each new day 
now apparently begins in Kiribati. 

This means that Kiribati — assuming 
its beer and other supplies permit — will 
be in line to hold toe party to top all 
parties: the first New Year's celebration 
on Jan. 1,2000. 

Kiribati, which not many people have 
heard of before now and which even 
fewer probably can pronounce cor- 
rectly. insists that it has moved the in- 
ternational date line in such a way that it 
will be the first country to usher the 
world into the next millennium. 

“We’re working bard to make this an 
eye-catching event," President Tebur- 
oro Tito said, beaming. "We want the 


world to see Kiribati. We want to put 
Kiribati on the map.’* 

Bat while Kiribati (pronounced K1H- 
rih-bahss) insists it will be the first coun- 
try to reach midnight Dec. 31, 1999, as 
well as the fust to see the following 
sunrise, rivals are crying foul. 

Other countries, from Tonga to New 
Zealand to Fiji, assert that die party of 
the millennium should be theirs. 

Each claimant sits near die line mark- 
ing 180 degrees lon- 
gitude. which the 
date line zigs and Because of ; 
zags around. Each .. , 

hopes that thou- ™e, each n 

sands of revelers — : 

will descend on its shores to welcome 
the next millennium, setting off a boom 
in tourism that will cany die local econ- 
omy well into the next century. 

The Pacific island nations have few 
economic opportunities other than tour- 
ism, so this is a joust that may determine 
theirprosperity for decades to come. 

“Tonga is going to make this a big 
celebration," said Simote Poulivaati. 
secretary of the Tonga Tourist Asso- 
ciation. "We believe this will be the 
beginning, and Tonga will move on 
from there and tourism will become 
much bigger." 

Tonga's prime hotel, the Internation- 
al Dateline Hotel, is already fully 
booked for the last week of 1999, and 


several new hotels are planned to ac- 
commodate the expected tourist boom. 

The dispute arose because President 
Tito of Kiribati fulfilled a campaign 
promise two years ago by moving the 
date line far to the east, off the 180- 
degree line, so that it goes around 
Kiribati. Until then the date line cut 
through the country, so that "today" 
did not mean the same thing from one 
part of Kiribati to the next. 


but there is no international agency or 
procedure preventing a move of the date 


Because of a bit of fiddling with the international date 
line, each new d ay now apparently begins in Kiribati. 


At the time, no one paid much at- 
tention to the sharp new jag in the date 
line or to its implications for the party of 
the millennium. 


"I was thinking of unifying the coun- 
and three years ago I wasn't think- 


try, and three years ago I wasn't think- 
ing of the millennium," Mr. Tito said. 
"Later I realized I had accidentally 
made a. good decision." 

The upshot is that the Line Islands in 
the far east of Kiribati went from being 
arooag the last in the world to see each 
new day to being among the first. The 
Line Islands are two hours ahead of the 
Kiribati capital, Tarawa, and they are an 
hour ahead of countries such as Tonga 
that hug the date line. 

Kiribati’s rivals have complained. 


procedure preventing a move of the date 
line. 

Most new maps still show the line 
without the change, but some interna- 
tional cartographers and map publishers 
have accepted its new bend to tbe right 
around Kiribati. The Royal Observatory 
in England, which devised the inter- 
national system of longitude and time- 
keeping, has indicated that Kiribati was 
within its rights to 

a make the switch, 

a fir m pi date "There seems to 

_ gri . ; be no legal reason 

n ivirroati. why any country 

cannot declare itself 

to be in whatever time zone it likes, and it 
would thus be possible for any other 
island group further to the east of the Line 
Islands to declare itself to be keeping the 
same date," the observatory said in a 
statement. “This would obviously gen- 
erate an absurd squabble, but if the fi- 
nancial return is sufficient and the tourists 
are gullible enough, it may happen." 

Thus, clocks on Kiribati’s Line Is- 
lands now start a new day at least an 
hour before clocks anywhere else on tbe 
globe. 

Officials on Kiribati are hoping to 
bring cruise ships to Caroline Island, an 
uninhabited speck that is tbe eastern- 
most land in Kiribati, but to focus the 
onshore festivities on Christmas Island, 


So small, it will change your perspective. 


‘l;U 



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ERICSSON 


which has a population of 3.500. 

The challenge is that Kiribati does nol 
kno w a great deal about tourism: It gets 
only about 4,000 visitors a year, making 
it one of the least visited countries in the 
world. Hawaii gets as many visitors in 
six hours as Kiribati does in a year. 

It shows. Kiribati people are ex- 
tremely friendly and casual, but no one 
has ever heard of room service. 

When a reporter telephoned a hotel in 
Kiribati to make a reservation, a cheer- 
ful receptionist did not bother to take the 


AUSTRALIA 


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name. 

"I don't need the name." he said 
enthusiastically. "If there’s an Amer- 
ican at the airport. I’ll recognize him." 

Kiribati's rusticity has reassured 
rivals. Mr. Poulivaati of Tonga acknow- 
ledged that Kiribati had the right to 
move die line, but he expressed 
doubt that the nation would be able to 
make use of its advantage. 

"We don’t see how they can develop 
the destination in the next two and a half 
years." he said. 

New Zealand is also banking on its 
relative sophistication and proven tour- 
ist charms to entice millennial visitors. 
Gisborne, an agricultural community of 
30,000 people, bills itself as the first 
place of any size to see the sun each 
morning, and it is planning a major 
celebration with chartered flights bring- 
ing celebrators from all over the world. 






ir . 




"We’re the first to seejhe sun, 
we like to brag about it," Tnidi Rnfe 
secretary of the Gisborne Chambers? 
Commerce, said. . 

For all the fuss over the celebrations 
sticklers point out that 2000 will-ofet 
actually be the start of the nexnn®- 
leon imn. The first millennium of .dfc 
Christian era, they note, ran from 1 A33t • 
through 1000, the second miBeopiui^ 
began in TOOL and the third will begai 
in 2001. .. .. 




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First man. then machine 

















PAGE 8 


CVTERINATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 


INTERNATIONAL 


Palestinian Crackdown 
On Militants Is Refused 


Security Ties With Israel Are Suspended 


GfrtfxiedbyQ&!&tfF7vmDijpalt*a 


JERUSALEM — The Palestinian Au- 
thority rejected on Monday Israel's de- 
mand that it crack down on militants and 
said it had suspended security ties with 
the Jewish state amid Israeli fears of 
more suicide bombings. 

Hundreds of Palestinian demonstrat- 
ors clashed with Israeli troops in the 
West Bank, particularly Hebron, and 
soldiers wounded an Arab at a Gaza 
Strip roadblock on the fifth successive 
day of violence. 

Israeli security forces remained on the 
alert for attacks by Palestinian militants 
three days after a suicide bomber killed 
three women in a Tel Aviv cafe. 

Israel demanded Sunday that the PLO 
rein In militants following the blast, 
which was claimed by the militant 
Muslim group Hamas. 

“We will not accept or deal with the 
Israeli conditions and will treat them as 
if we didn’t hear them," the Palestinian 
security chief in the Gaza Strip. Mo- 
hammed Dahl an. said at a news con- 
ference. 

Israel also demanded that the Pal- 
estinian Authority increase security co- 
operation, which Israel’s military intel- 
ligence chief said Palestinians had 
conditioned on a change in Israeli set- 
tlement policy. 

“We stopped both security activities 
and intelligence cooperation as a result 
of the Israeli violations of the agreement 
by continuing to establish settlements, " 
Mr. Dshlan said. 

In Washington, the State Department 
demanded that the Palestinian Authority 
order a hah to terror attacks. 

Israel's ambassador to the United 
Stales, Eliahu Ben-Elissar, called on 
Secretary of State Madeleine Albright to 
discuss the suicide bombing in Tel Aviv 
and private warnings by Israel before the 
attack that Palestinian terrorists thought 
they had approval from Yasser Arafat, 
the Palestinian leader. 

Mrs. Albright is considering sending 
Dennis Ross, the senior U.S. mediator, 
to the Middle East to try to restore calm 
and put Israel and the Arabs on a ne- 
gotiating track again. 

“The poinf now is that the Palestinian 
Authority must send signals to all groups 
that terrorism will not be tolerated and 
that, if it persists, the Palestinians will 
suffer the most," said an official, speak - 


dement in East Jerusalem. Hamas said 
the Middle East peace process was dying 
and that it was time to deliver the final 
blow. 

“We in the Islamic Resistance, 
Hamas, call (xt our people and all Is- 
lamic, Palestinian and Arab forces to 
deliver the mercy bullet to the dying 
peace process and to unite efforts in 
resisting the criminal plots of die en- 
emy," Hamas said in a statement sent to 
a news agency in Beirut. 

Fbreign Minister David Levy of Israel 
criticized Mr. Arafat for traveling to 
other countries while peace moves re- 
mained in crisis. 

“Arafat must understand that the 
problems won't be solved in interna- 
tional arenas," Mr. Levy said. “He must 
be here to decide which path he takes." 

Mr. Levy spoke on Israel Radio as Mr. 
Arafat arrived in Sri Lanka on the fourth 
day of a nine-day tour. 

The Palestinian president was in Is- 
lamabad on Sunday, when a one-day 

- C - "* C — t- 



meeting of the 54-member Organization 
of the Islamic Conference condemned 
“Israel’s persistence in its settlement 
expansionist policies" in Jerusalem and 
the rest of the occupied territories. 


He visited Egypt and Oman before 
Pakistan and was due to travel to South 
Africa and Morocco before returning 
home. 

Prime Minister Benjamin Netanyahu, 


who was elected last May after prom- 
ising more security for Israelis, bias ac- 
cused Mr. Arafat of giving Islamic mil- 
itants a “green light" to launch attacks. 
Mr. Arafat denies the charge. 


HAMAS: V.S. and Israel Complained That Arafat Was Easing Up on Terrorist Groups 


Continued from Page 1 


ing on condition of anonymity. 
Hamas has threatened more 


Hamas has threatened more suicide 
bombings if Israel presses ahead with the 
construction, begun last week, of a set- 


those who submit to his authority and has 
pledged to halt attacks on Israel. 

The Palestinians blame Mr. Netan- 
yahu’s government, which has used its 
superior power to impose the decisions 
to build a new Jewish neighborhood for 
30,000 people m East JerosaJem and to 
lessen the amount of West Bank land to 
be transferred to Palestinian self-rule. 

Those decisions, they said, enraged 
the Pales tinian public and undercut sup- 
port for Mr. Arafat. They also revived a 
measure of public support for Hamas 
terrorist attacks, they said. Hamas is a 
mass political movement that is highly 
sensiti ve to Palestinian opinion. Accord- 
ing to a study by the Center for Pal- 
estinian Research and Studies, the per- 
centage of respondents who support 
“armed attacks on Israel” increased 
from 21 percent a year ago to 38 percent 
this week. 

4 “They have stopped negotiations and 
speak to us with bulldozers," Ahmed 
Abdel Rahma n, the Palestinian cabinet 
secretary, said in an interview Sunday. 

And die Palestinians' diplomatic at- 


tempts to press their case against Israel 
have been rebuffed. The United States, 
for example, vetoed a United Nations 
resolution calling on Israel to halt its 
housing plan for Jerusalem. Every other 
member of the Security Council backed 
it 

In August, as tensions flared with Mr. 
Netanyahu's government, Mr. Arafat 
gradually released 120 of the roughly 
200 activists that Israel had specifically 
asked him to keep in jail. Among those 
freed were 16 men identified in a con- 
fidential Israeli document as “directly 
involved in killing Israelis." 

Some of those men, according to of- 
ficials with access to Israeli and U.S. 
intelligence, had taken part directly in 
planning or carrying out Hamas attacks 
in which Israelis died. All were then 
recruited to the Preventive Security Ser- 
vice in Gaza, one of nine or more com- 
peting security agencies reporting to Mr. 
Arafat. 

Another of Israel's most-wanted 
Hamas activists was Adnan Ghol. who 
according to U.S. intelligence built the 
bomb used in one of last year's lethal bus 
attacks. Mr. Ghol turned himself over to 


the General Intelligence Service in Ga- 
za, another of Mr. Arafat's agencies. 

In January, according to U-S. and Is- 
raeli officials. Mr. Ghol blew off his 
fingers when explosives accidentally 
detonated in his Gaza apartment. 

The Clinton administration, which be- 
came increasingly alarmed by the re- 
lease of what one official called “really 
bad guys," sent a series of sharp mes- 
sages through Edward Abington. the 
U.S. consul general in Jerusalem. Mr. 
Clinton and Secretary of State 
Madeleine Albright raised the matter in 
separate March 3 meetings with Mr. 
Arafat. George Tenet, now the CIA di- 
rector-designate, demanded that Mr. 
Arafat re-arrest the worst of the op- 
eratives, naming each one specifically, 
sources said. 

But upon his return from Washington, 
Mr. Arafat held two fence-mending ses- 
sions with Hamas leaders. On March 9, 
he spoke angrily to various Hamas lead- 
ers about Israeli violations of signed 
agreements. 

** The next day Mr. Arafat freed Ibrahim 
Maqadmeh. According to authoritative 
sources who spoke on condition of an- 


CHINA: Can Prime Minister Take on Unfamiliar Role of Conciliator With the West? China Police Search 


Continued from Page 1 


been to virtually every major foreign 
nation — except the United States. 

Mr. Li has also defied all predictions 
about his ability to last in office. Many 
expected his political demise after the 
crackdown of 1989 in which at least 
several hundred people were killed. Oth- 
ers saw him as washed up in 1993, when 
he suffered heart troubles and left the 
political stage for several months. 

The dour but durable Mr. Li has not 
only survived, but also thrived. He now 


rivals President Jiang Zemin as the most 
influential Chinese leader today. 

He has survived, in part, by adapting. 
Despite his sharp words for the Hong 
Kong business group, Mr. Li essentially 
adopted the position it recommended 
two days later. 

Similarly, he has adapted first to the 
late senior leader Deng Xiaoping's pen- 
chant for rapid economic growth and 
now to the party's description of Mr. 
Jiang as the “core of the third gen- 
eration" of Chinese leadership. 

Later this year, Mr. Li will face a fight 


for his political survival. Under the 
Chinese Constitution, he is limited to 
two terms as prime minister, and his 
second term expires next March. To 
secure another position, he must find a 
spot for himself during the crucial Com- 
munist Party congress later this year. 

Some maneuvering is going on 
already. In an effort to put a more de- 
pendable ally in place, Mr. Jiang re- 
moved Mr. Li as deputy bead of the 
economics and finance leadership group 
and installed one of the Shanghai allies, 
Wu Bangguo. 


GORE: As Visit to China Starts , 2 Companies Sign Business Deals 


Continued from Page I 


place a bet that as the free market ex- 
pands dramatically, so will free ideas," 
he said. 

But the stakes of this bet have risen of 
late. As criticism of China rises, so, too, 
do the prospects that Mr. Genre will be 
called on to defend the administration's 
policy when he launches his planned 
presidential bid in 2000. 

The current controversy over Demo- 
cratic National Committee fund-raising, 
some senior administration officials ac- 
knowledge, also means that their actions 


toward China for the time being will be 
viewed in Washington through a filter of 
distrust. Several of the contributions re- 
turned by committee officials as im- 
proper came from or were solicited by 
people with close business links to 
China. And the FBI is investigating sus- 
picions that the Chinese government 
sought to influence the U.S. presidential 
and congressional elections through sur- 
reptitious campaign contributions. 

Mr. Gore said he would raise the issue 
in either his meetings with Prime Min- 
ister Li Peng later Monday or Wednesday 
with Mr. Jiang, or both. But he also made 


it clear that, for a combination of reasons, 
this will be a ginger exercise. 

“In our country, it is part of a law 
enforcement investigation, and that 
shapes the manner in which it can be 
discussed," Mr. Gore said, “and in the 
case of China, it is something they have 
vigorously denied, which also shapes the 
way it will be discussed." 

“The landscape of the U.S.-China re- 
lationship is filled with many rivers," Mr. 
Gore said in a Beijing arrival statement, 
“some flowing together, others flowing 
apart. Such variety befits the interaction 
of two great nations and civilizations." 


Some analysts say that Mr. Li is jock- 
eying for a post as 'deputy chairman of 
the Communist Party, while Mr. Jiang 
would get an inflated tide of chairman. 
Though clearly a second-ranking po- 
sition, it would still keep Mr. Li involved 
in all-important party affairs. Other 
party leaders have suggested that Qiao 
Shi , the more liberal current chairman of 
the National People’s Congress, should 
then serve as co-deputy chairman of the 
party. 

Other possibilities for Mr. Li are 
wrestling the presidency away from Mr. 
Jiang or settling for the respectable but 
powerless 'position of chairman of the 
Chinese People's Political Consultative 
Congress. Some diplomats say that the 
internal jockeying might actually spur 
Mr. Li into acting diplomatically, per- 
haps even striking a deal on human 
rights with the United States, in order to 
prove he can handle the presidency. 

Moreover, some analysts say, this 
would be Mr. Li’s best insurance against 
a possible reopening of the verdict on the 
events of 1989. If the party ever reversed 
its verdict, which called the protests 
“counterrevolutionaiy.’’ Mr. Li could 
come under harsh criticism. Mr. Deng, 
who played perhaps the leading role in 
ordering the army crackdown, is gone, 
and Mr. Li would be exposed. 


Home of Bishop 


The Associated Press 

BEIJING — Police ransacked the 
home of an underground Roman. 
Catholic Church bishop, seizing 
money. Bibles and religious arti- 
facts. a U.S.-based Catholic group 
said Monday. 

Bishop Joseph Fan Zhongliang, 
79. has been closely watched by 
police since eight officers searched 
his Shanghai apartment on March 4, 
the Cardinal Rung Foundation said. 
The Stamford, Connecticut-based 
group said the search may have been 
aimed at stopping any Easter cel- 
ebrations by Shanghai’s under- 
ground Catholic Church. 

Bishop Fan spent 20 years in pris- 
on for refusing to join China’s of- 
ficial church. He heads the under- 
ground church in Shanghai in place 
of Cardinal Ignatius Kung Pin-mei, 
who was imprisoned for 29 years 
before moving to the United States. 


For Mr. Li, the example of how South 
Korea is dealing with generals who 
ordered harsh measures against shots 
fired at demonstrators before the tran- 
sition to democracy must be sobering. 


. - v . 



Interns’ Str&$$ I ta J 4 
A Bitter Pitt f fo T* 1 
For France ^ 


By Anne Swaidson 

TK«)ii«flMn Post Service 




PARIS — Wearing white ] 

decorated with bandages. ; ; 


of medical interns who are 


ing in *e 


Cn^MariBWkb/Tbr Ami ri aW fVem 

Two Palestinians ducking for cover as Israeli soldiers fired rubber bullets during clashes Monday in Hebron. 


In Cairo, meanwhile, thousands of 
Egyptian students chanted anti-Israeli 
and anti -American slogans in a demon- 
stration against Israel’s policies in Je- 
rusalem. (Reuters. AP ) 


oavmity, both of Mr. Arafat’s senior 
internal security chiefs, JibriJ Rajoub 
and Mohammed Dahlan. opposed the 
move. The same day, Mr. Arafat met 
ag ain with Hamas leaders. 

According to U.S. and Israeli officials 
famili ar with electronic intercepts of 
conversations among Hamas leaders, the 
extremists came away from the Arafat 
meetings with die impression — more 
from what he had not said than what he 
had — that Mr. Arafat would not object 
to the resumption of suicide bombing 
attacks. 

That, was the basis for Mr. Netan- 
yahu’s statement Sunday that “every 
time there is an impasse or a grievance 
against us they send terrorists." He ad- 
ded, “In this case they were sent a green 
light from the Palestinian Authority. On 
this we have absolute information." 

But the administration disagrees. Of- 
ficials speaking on condition of an- 
onymity said that Mr. Arafat sought to 
protect'his political flanks and raise Is- 
raeli anxieties about terrorism, but was 
well aware of what one called the “dev- 
astating" consequences for Israeli-Pai- 
estinian relations of an actual attack. 


than just another protest against ^ 

budgetary cutbacks. ' : 1 ’ 

Demonstrations are a CO0H ”£$£P > .''- 
currence in Paris; newspapers >r 

nearly every day. But J^ - 

threaten to cause more conflict . tbaa$fc. 
average walkout, .the goverpipejtt^., , ; 
Prime Minister Alain J uppe ls beginpaig - 
eo act frightened. . . 

The reason is that the mtenas, ?»o.;; j 
have been on strike since March : : 

engaging in a spontaneous nmfe mfefi - 
against changes that their union 
erehip agreed to. The ■ 

union has resigned. In add/ ti C Hy : weir ^ - , 
movement is beginning to spread to .• • > 

pital doctors, whose leaders aiso nat- 
accepted the changes and whose anxm 
president also has resigned. • .-a. 

[Interns at four more hospitals. ^Ja . . 
Caen, Angers, Nancy and Clemxmtdgefc- ?. - 
rand — joined the strike Monday, TM -■ 
Associated Press reported. Three ooe= jr j 
tors’ unions also voted to take part as tfep ' 
strike entered its third week. _ 

[A government spokesman. Aunts 
Lamassoure, said, however, that the poq-: 
tested plan would not be renegotiated.] ... ; 

For France, which needs to reduce its l . . 
government spending and its badger de- 
ficit, the controls on medical costs that 
the interns are protesting are cruciaL- > .. •_ 
Every year, the national health system: 
spends more than it takes in. In addition, . 
to take part in Europe’s single curreftcy • 
by 2000, as now scheduled. France most ,j ’j 
get its budgetary house in order this yeatir 
The cast controls the interns oppose are ; ; ’ 
crucial to the government's planned, i 
spending reductions. . - ” - • i 

Ever since December 1995, wbof i 
striking transit and railroad workers 
Mocked the country for nearly three ' 
weeks, France has been waiting, breath : 
held, for the next big strike. . j 

Last fall, truck drivers walked crayf:] 


El> 


,bTI 




at age 55. Then, bus and subway drivers . ; 

in most major cities except Paris went on 'i 

strike to demand the same.rhing; -JthetE^-.. / 
movement eventually petered out when 7 
the government refused to give in. < 

And this month the government 
scored a victory. Pilots of Air Fiance, 
who had been threatening to strike over- - 
salaries, put off their walkout for two 
months and . agreed to negotiationsAfter 
the airline’s president saidhe wquld qmt 
if they went on strike. ’ 

For die interns, Mr. Juppe is sparing' 
no effort Normally aloof and unavail- 
able to the media, be and his staff have 
been ubiquitous in the press and on teier 
vision in the last few days. Their mes- 
sage: These accords were supposed to le .- 
a done deal, and the stakes are hi^h. . 

French medicine, like many things in ; 
France, is run under the auspices of the 
state. Patients can choose their physt- '- 
cians but their bills are paid largely .by ■■■.■ 


tion drugs are among the highest in the 
world. • 

To reduce doctor visits, the govern- 
ment worked out an agreement with their 
unions in which a physician's gross an- ' 
nual revenue cannot exceed certain in- 
dividual limits. The idea is to keep phy- 
sicians from bringing patients in fqr 
unnecessary visits. 

Under a phase-in system that die in- 
terns' unions worked out with the go\*- 
emment, the limits will not apply for die 
first seven years after the intern leaves 
training and sets up a practice. ' 

That was that, until the accords were 
signed earlier this month and interns - 
around the country began actually read- . . 
ing the texts. - : 

“We were betrayed by our leader- 
ship, ’’ said Christine Donzel, who mao- ^ 
dees at a hosoital in the suhurhs r 


dees at a hospital in the suburbs of 


BORDER: Corruption on the V,S, Side 


Continued from Page 1 


by the promise of easy money into leav- 
ing Mexican drug gangs alone. 

Now, the federal authorities say they 
have mounting ev.- ience of systemic cor- 
ruption in some of those counties. These 
include Zapata, where the county’s lead- 
ers were convicted and forced out of 
office three years ago, and Starr County, 
Texas, where 79 people, including a 
deputy sheriff, were indicted a few 
months ago for taking p^rt in a long- 
running marijuana smuggling operation. 

There are signs of growing corruption 
in the federal ranks as well, including of 
customs and immigration inspectors, 
who had long been viewed as a more 
stalwart defense against the drug in- 
vasion. 

Internal documents shared with The 
New York Times by current and former 
officials at the U.S. Drug Enforcement 
Administration highlight the corruption 
issue: One 1995 memorandum, from the 

g overnment’s El Paso-based clearing- 

ouse for drug intelligence to top drug 
officials in Washington, warns of “in- 
creased and constant receipt” of reports 
from informants, government employ- 
ees and ordinary citizens about “the use 
of corrupt and compromised U.S. cus- 
toms and immigration inspectors" to 
insure that drug shipments cross the bor- 
der. 

“Tbe sorry truth is that people in law 
enforcement do not make a lot of money, 
and that’s especially true for local of- 
ficers,” said Fred Bail, former head of 
the Drug Enforcement Administration in 
McAllen, Texas. He now leads a federal 
drug intelligence task force covering 


the entire Rio Grande Valley of Texas. 

‘ 'In some of these counties, ' ’ Mr. Ball 
said, “somebody will walk up to an 
officer with $50,000, $60,000 or more 
and say, 'All you have to do is just turn 
your head the other way tonight,' That’s 
an explanation for why it happens. It’s 
not an excuse." 

The problem here is limited compared 
with the scale of the accusations that 
have been shaking Mexico, 

But by all accounts, drug-related cor- 
ruption in the United States is serious 
ami growing. 

A review of court records and in- 
terviews with state and federal pros- 
ecutors indicate that beyond the inform- 
ant accounts described in tbe internal 
federal reports, at least 46 federal, state 
and local law-enforcement officials 
have been indicted on or convicted of 
drug-related corruption charges in the 
last three years in the border states of 
California, Arizona, New Mexico and 
Texas. And that includes only cases in 
which drugs were transported across the 
border by land. 

Tbe number is unprecedented, federal 
law-enforcement officials said, and yet it 
represents only a small part of the prob- 
lem. When corruption often involves 
nothing more than passively allowing 
smuggles to go about their business, it is 
extremely difficult to detect and even 
tougher to prosecute. 

As drug dealers have become more 
brazen and the volume and value of 
drugs moving across the U.S.-Mexico 
border have skyrocketed, many federal 
officials openly concede that they fear 
the problem will grow worse. 

Court records from border towns offer 


UN Agency Blames 
US. for Drug Market 


PROTESTS: Worker Unrest Threatens to Derail EU’s Timetable 


Continued from Page 1 


International Herald Tribune 

The problem of narcotics traf- 
ficking is due as much to demand in 
the United States as to supply from 
Latin America, according to the 
latest report by tbe United Nations' 
drug agency. 

The report also says that the 
United States, which has imposed or 
threatens to impose sanctions on 
drug-producing nations, is itself a 
major producer of cannabis and so- 
called designer drugs. 

“The prevalence of drug-abuse 
cases is lowest in Mexico and 
highest in the United States," the 
Vienna-based International Narcot- 
ics Control Board said in its annual 
report published this month. 

“The biggest illicit drug market 
in the world is in the United States, ’ ’ 
the report said, adding that the cul- 
ture of cannabis and manufacture of 
amphetamines in Mexico and the 
transit traffic in cocaine and other 
drugs were problems that were “to a 
large extent connected with the 
drug-abuse situation in the United 
States.” 


a glimpse of just how seductive money 
can be, and of the ease with which border 
patrols and othergovemment agents can 
satisfy drug traffickers’ needs. The rec- 
ords show, for example, how border 
agents and other federal employees are 
offered tens of thousands of dollars 
simply to “take a break" for a few 
moments at arranged times. 


terms." But while many economists say 
that budget cutbacks are slowing down 
overall economic growth, Europe's 
workers are also trying to resist a scale of 
corporate layoffs that has been unknown 
here in the past, and which has already 
occurred in the United States and Bri- 
tain. 

Mr. Home of Smith Barney, along 
with many other Europe-warchers, crit- 
icized die politicians for trying to make 
the Maastricht single currency process a 
scapegoat for unemployment. “That is 
most unfortunate because it is so easy to 
blame the treaty when it is really the 
structural reforms that need to be 
tackled." 

John Evans, general secretary of the 
Trade Union Advisory Committee, said 
Monday that the problem was that 
"people see monetary union taking 
place against the background of mass 
unemployment." He acknowledged that 
Europe needs to undertake structural re- 
forms, but said that “the Maastricht pro- 
cess and new restrictions on public ex- 
penditure at a time of low growth are 
worsening the problem." 

The answer, for Mr. Evans, is for 
European employers to “reach agree- 
ments with unions on structural mea- 
sures as well, as has been done in the 
Netherlands. Ireland and Denmark." 

He also said Europe could “learn 
from the American lesson of keeping 
growth going and keeping interest rates 
low." 

Yet, while many workers say they are 
protesting against Maastricht-mandated 
austerity measures, or what union leaders 


disparagingly call the Europe of bankers 
and of money, the reality is complex. 

The protests have also occurred be- 
cause European industry is downsizing to 
meet the challenge of globalization. That 
means many companies are reducing 
overall work force numbers to become 
more competitive with American or 
Asian rivals. 


Some European companies are shift- 
ing substantial manufacturing opera- 
tions from European Union countries to 
Eastern Europe or Asia, where labor 
costs are cheaper. 

On Tuesday, the celebrations planned 
to mark the 40th anniversary of the 
Treaty of Rome that founded the Euro- 
pean Community are thus likely to prove 
but a brief respite from the daily po- 
lemics over the EU’s army of 18 million 
jobless people. 

Trade union militancy is nothing new. 
But with unemployment running at re- 
cord or near-record levels, the real nov- 
elty is the clash of events, with worker 


d i ssati sfaction and the homestretch to- 
ward a single currency overlapping. 

Some governments, concerned by the 
popular outcry, have tended to give in tp 
worker demands, as France did when it 
ended a truck drivers’ strike in Decem- 
ber by agreeing to a new bonus and 
retirement at the age of 55, or as Chan- 
cellor Helmut Kohl did earlier tins ' 
month when he yielded ground to stak- 
ing coal miners by agreeing to slow the 
pace of planned cutbacks in subsidies ferf 
unprofitable coal mines. - ; 

Some of Europe’s most thoughtful ob- - 
servers are also sounding the alarm bell 
Hans Tietmeyer, president of the 


Bundesbank, said in a recent interview ~k' 
that he was not sure “how Iona 1 T- 


that he was not sure “how long society 
wtll accept this level of unemploy- 
The answer appears to be not much 
longer, and policymakers across Europe 
are worried that worker demonstrations 
could soon turn into more serious forms 
of social unrest 


Mediators in Peru Offer Plan to End Siege; 

New York Times Service ® \ 


New York Tunes Service -j .. ® i 

LIMA — Mediators between the gov- wuldTfd^ ££2? * c 
eminent of Peru and leftist rebels hold- crisis whir-tf ? peai ^ eflJ w ?L™ t ^ 
ing 72 hostages have outlined a tentative Ne’pmfaH^J, 8 00111 ^ ^ 

agreement to end the standoff that calk Hermn!! t ^F I S ,S havebeen blocked by the 
for the rebels to give up their^Ses retenl? ^ ^ 

and leave Peru in exchange for a^iSnw 400 jitited m0rc ^ 

at early parole for some of their jailed FbiirrmriL Prudent Albert/? 

comrades, according to a dipStdcS t0 ^ OW *«“■ 

to the negotiations. v - most “"POfrant thing is to COtir 

The diplomat said the two sides had “ lal ^ iteration of 400 

not completely agreed on all points diptoma ^id° l P° Ulican y*” ^ 

* 






INTERNATIONAL HERALD TRIBUNE, TUESDAY. MARCH 25. 1997 


i'Alvh 9 


INTERNATIONAL 






Italian Navy Is Ordered 
To Turn Back Albanians 


fnr (V Stuff f-wi D. vwn V: 

BRINDISI, Italy — Italian coastal 
authorities received orders Monday to 
turn back boats of Albanian refugees 
forcefully if necessary, port officials iri 
■ Bnndisi and Bari said. 

The chief of Brindisi's port. Captain 
‘ Giovanni Biso, said that what he called 
firm orders had been given Monday 
morning to intercept Albanians fleeine. 
the chaos and violence in their country 
and stop them from landing. 

If the Albanians' boats could not be 
' persuaded to turn around, they were to 
-‘be towed back to their ports "of origin, 
sources said. 

• Two fishing craft carrying around 100 
Albanians were intercepted by the Itali- 
an Navy and were being towed back to 

; Albania on Monday afternoon. 

In another incident, refugees aboard a 
boat cut the tow-rope from an Italian 
; Navy ship, and one of them fired shots 
toward the Italian authorities. 

Italian sailors did not return fire out of 
■concern for the 100 refugees aboard, 
they said, but escorted the boat into 
Brindisi at a distance. 

“The shots were fired by a desperate 
1 man who was angry that the Italian Navy 

• was stopping the boat from arriving in 
Italy," said Admiral Angelo Mariani, 
Italy's navy chief. 

The new orders are a hardening of 
Italy's stance toward its troubled neigh- 
bor. For the last few days Italian boats 
have been patrolling Albanian territorial 
waters to discourage Albanians from 
departing for nearby Italy. 

- In ail, as many as 12.000 Albanians 
have arrived in Italy this month. 

Italy initially offered hospitality for 
up to three months to fleeing Albanians. 
But the government has toughened its 
stance amid reports that many refugees 
were not hardship cases and that crim- 
inals had been posing as refugees. 


A government official who inspected 
relief facilities in Brindisi said that Al- 
banians now arriving were no longer 
those who left because of fear. "They 
are looking for a better life — in short, 
immigrants." said Giannicola Sinisi. 
undersecretary of the interior. 

In Brussels. European Union foreign 
ministers struggled to find the best way 
to send and protect emergency aid ship- 
ments to Albania. 

With pressure rising on the 15-nation 
EU to take forceful action to help defuse 
the crisis, foreign ministers could not 
agree to send a small security force to 
ensure the delivery of aid. 

While ministers agreed that aid would 
never reach needy Albanians without 
some form of protection, some stressed 
that the country must first contain the 
chaos. 

"Albania has to create conditions for 
a humanitarian aid mission and for the 
security of advisers." said the German 
foreign minister. Klaus Kinkel. 

On Tuesday. EU foreign ministers 
will meet in Rome with the Albanian 
prime minister. Bashkim Fino. who is 
expected to issue new appeals for EU 
support. 

Mr. Kinkel and some other EU for- 
eign ministers pushed for institutions 
like the Organization for Security and 
Cooperation in Europe to share respon- 
sibility for the relief efforts. 

The situadon in Albania continued to 
be tense Monday, with gunmen running 
half the country and President Saii Ber- 
isha resisting " demands by rebels to 
resign. 

Nevertheless. Italy continued to fly 
emergency aid to Albania on Monday. 

An Italian Air Force transport plane 
landed in Tirana with six tons of emer- 
gency medical aid requested by Mr. Fino 
for the northern part of the country, 
which is under government control. 



V<ui^. rrnM/n>. A*—.uin) Hir-» 


An Italian sailor searching an Albanian who arrived in the port of 
Brindisi on a small fishing boat Monday. Several shots from the boat 
were fired toward the Italian Navy as it tried to repel the Albanians. 


Italy has already sent some two tons of 
medical aid for the rebel-held south. 

The latest aid cargo arrived in Tirana 
shortly before an Austrian Airlines jet 
flew in, the first Western commercial 
flight to land there since the airport was 
closed last week as the country des- 
cended into anarchy. 

The arrival of the airliner from Vienna 
was the roost visible sign yet that the 
country, at least the government-con- 


trolled pan of it. was returning to nor- 
mal. In the south, local committees run 
major towns, although lawlessness is 
reported to be rife because of the activ- 
ities of armed gangs. 

Last week civilians looted thousands 
of weapons from army depots, following 
the example of rebels in the south, and 
the army and the police disappeared, 
leaving the country' to be ruled by the 
gun. (AFP. AP. Re ulcrs ) 


RICE): Japan Rejects Aiding North Korea 

Continued from Page 1 


that North Korean agents kidnapped 
several Japanese citizens in the 1970s. 
Those Japanese, including a 1 3-year-old 
girl, were allegedly taken to North Korea 
to help train spies in Japanese behavior 
and language. 

A Foreign Ministry spokesman. 
Hiroshi Hashimoto. said the govern- 
ment's foreign aid policy should not he 
dictated by how much rice the country 
has. Further, he said, "the Japanese gov- 
ernment has to take into consideration 
the sentiments' of the Japanese people" 
who have concerns about the alleged 
kidnapping. 

But Bernard Krisher. an American in 
Tokyo who is privately raising money 
for North Korean food aid, said it was 
unconscionable that Japan was “hoard- 
ing rice as women and children are 
starving." 

"I think it's just disgusting when a 
neighboring country has so much rice 
that it will eventually rot. and in the 
meantime people are going to starve." 
Mr. Krisher said. 

The U.S. government, which recently 
pledged S10 million in aid to North 
Korea, is also concerned about Japan's 
reluctance. 

On 3 visit here last month. Mrs. Al- 
bright asked Japanese officials to join 
ihe~ United States in famine relief. One 
U.S. official traveling with Vice Pres- 
ident Albert Gore in Tokyo said that thi? 
United States' urging of Japan to send 
aid was "pretty much a constant feature 
of our diplomacy." 

The U.S. government is worried that 
the growing hunger could destabilize 
North Korea’s government, perhaps 
even leading to a bloody revolx. And 
with 37,000 American soldiers facing 
North Korea's border, chaos inside the 
Stalinist country is a direct military 
threat to the United States. 

So far Japan, which normally hews 
closely to U.S. policy on North Korea, is 
refusing to budge on the aid issue. 

In the past. Japan has given food aid to 
North Korea, but officials said it was 


refusing now because the political cli- 
mate has changed. 

Some government officials said 
privately, however, that the United 
States was likely to soon increase its own 
aid package and that international pres- 
sure on Japan may soon prompt it to 
reverse its "no aid” decision. 

Ironically, last year, when Japan 
shipped 100.000 tons of excess rice to 
poor African countries. American of- 
ficials criticized the move because much 
of the shipment was foreign rice. Instead 
of Japan's donation being seen as a 
humanitarian gesture, critics viewed it as 
a ploy to keep foreign rice from Japanese 
consumers, further protecting the no- 
toriously coddled Japanese fanner. 

Again, a considerable amount of the 
rice in storage is foreign rice that Japan 
was forced to buy under international 
pressure to open its market. But this dme 
international critics say they would 
rather Japan give it to hungry people 
than waste it or feed it to animals. 

Frank Shinya. senior minister of a 
Tokyo Christian congregation, said Jap- 
anese politicians may be misreading 
Japanese public sentiment, and that not 
all people want the government to link 
20-year-old abductions with humanit- 
arian aid. His overwhelmingly Japanese 
congregation of 900 just donated 
S20.00G to the North Korean food ef- 
fort. 

“I don't want to stand in judgment." 
he said, but the government's decision 
"seems wrong." 

When people are in such dire straits, 
that should supersede politics." he 
said. 


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.5 


EINSTEIN: 

Custody Battle 

Continued from Page 1 


BRIEFLY 


“These people simply 
have no sense of shame.” 
'said Gary Smith, an Amer- 
ican scholar who heads the 
'Einstein Forum, an academic 
■Research center in nearby 
Potsdam. "How can they 
now pretend to treat Einstein 
■ as a favorite son after they 
^forced him to leave the one 
place that he really loved?" 

\ For the past four years, Mr. 
‘Smith has been struggling to 
unite the 1 1 heirs of Einstein ’s 
^epdaughter Margot — a dis- 
parate group that includes 
-family descendants and orga- 
nizations ranging from Jeru- 
salem's Hebrew University to 
the New Jersey chapter of an 
anti-vivisection league. 

■’ Mr. Smith said Einstein al- 
ways loathed the idea that his 
house might become a tourist 
attraction and often pleaded 
f\ Tor it to be preserved as a 
'place of contemplation and 
"research for scholars. 

That wish was honored by 
East Germany’s Communist 
government, which designated 
the place a historical landmark 
and renovated the bouse in the 
1979 centenary of Einstein's 
birth. During die 40-year ex- 
istence of the German Demo- 
cratic Republic, access to the 
house was restricted by that 
‘government’s Academy of 
Sciences. It was reserved 
primarily as a guest house for 
prominent physicists. 

After Germany was unified 
'in 1990. the village won the 
first big legal battle by wrest- 
ing control of Einstein’s 
(< "property from the state of 
Brandenburg. But since then. 
.Mr. Smith has managed to 
win partial custody of the 
place for his research center, 
which, with the consent of the 
heirs, wants to uphold Ein- 
stein's wish of creating a per- 
manent retreat for scholars. 

: "We want this place to be 
’saved as our special icon," 
Mr. Smith said. "It should 
become a fount of inspiration 
‘for the irind of excellence, in 
"die sciences and humanities 
dial Einstein represented." 

- The Einstein Forum is now 
allowed to use the spacious 
pine dwelling during the 
week for seminars in return 
'for paying maintenance costs. 
But on weekends, hundreds 
: of visitors are allowed, to 
traipse through Einstein’s 
•sanctuary and Mr. Smith fears 
"the house may soon fall apart 
from the heavy wear and tear 
‘inflicted by tourists. 

’ The timber frame is already 
Totting away, and large-scale 
'repairs cannot be earned out 
until the courts decide once 
_and for all who is the rightful 
owner. Architects also deplore 
the house’s neglected state be- 
cause it is considered a design 
showcase of the Bauhaus mas- 
’rer Konrad Wachsmann. 

•’ "The situation is close to 
catastrophic because the 
house was never made to ac- 
commodate throngs of tour- 
ists," Mr. Smith said. "Some 
: of the damage may be irre- 
parable. It would be a tragedy 
if the place that Einstein con- 
sidered to be his greatest treas- 
1 tire should disappear because 
of greed and insensitivity.” 


Algerian Rebel Chief Is Killed 

ALGIERS — Algerian security forces have killed an 
Islamist guerrilla commander suspected of mastermind- 
ing the hijacking of an Air France airliner in 1 994 and a 
wave of bombings in France, newspapers said Monday. 

Media reports hailed the killing Sunday of Rihane 
Yahia and three of his Armed Islamic Group comrades in 
a raid on their hideout in Algiers as a "severe blow” to the 
guerrillas fighting to topple the government. 

Mr. Yahia, alias Abdallah Krounfel, was wanted by the 
French police for his suspected role in a wave of bomb 
attacks in France in 1995 and was believed to be the 
mastermind of the 1994 hijacking in which three pas- 
sengers were killed; El Watan newspaper said. ( Reuters J 

Muslim Talks: Moral Victories 

ISLAM ABAD.Paki stan — Muslim leaders were leav- 
ing Islamabad on Monday after a special summit meeting 
of Islamic leaders during which Pakistan and the Pal- 
estinians won moral victories, analysts said. 

The meeting Sunday of the Organization of the Islamic 
Conference issued declarations supporting the Pales- 
tinians' claims to Jerusalem and backed Pakistan in its 
dispute with India over Kashmir. 

But analysts noted that the 54-member Islamic or- 
ganization could only exert moral pressure on the in- 
ternational community. "Smaller countries can only 
make statements and make requests,” said an Islamic 
commentator, Ghafoor Ahmed. (AFP) 

Ex-Mayor Murdered in Mexico 

MEXICO CITY — A former leftist mayor of a town in 
the southern state of Guerrero and his wife were murdered 
by a group of armed gunmen, the police and family 
members said Monday. 

Guadalupe Valentino Lopez Carrasco, 50. of the Party 
of the Democratic Revolution, suid his wife, Nicosia 
Hernandez Petatan, 52, were shot in the head Saturday. 

Armed gunmen stopped the two close to the village of 
Xalpatlahuac, 200 kilometers (120 miles) south of Mex- 
ico City, according to Mr. Lopez Carrasco’s nephew, 
Elvin Naves Flores. He said his uncle was traveling with 
his grandchildren, who were not harmed, and there were 
no signs of robbery. The police said they had not found a 
motive for the murders; the two had been working as 
teachers in the region. (Reuters) 

Cultists’ Children Had Choice 

QUEBEC CITY — Three teenagers who survived the 
weekend group suicide of their parents and three other 
members of the Solar Temple death cult had been given 
the choice of living or dying, the police said Monday. 

The police found the charred bodies of the three women 
and two men Saturday in a house owned by a member of 
the sect. As fire fighters fought the blaze, the three 
teenage children emerged dazed from a nearby shed. 
They appeared heavily drugged. 

The children told police that their parents had asked 
them whether they wanted to join the group suicide or 
take refuge outside the house. (Reuters) 


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PACE 10 


TUESDAY, MARCH 25, 1997 


EDITORIALS /OPINION 


Hcralb 


INTERNATIONAL 



PUBLISHED WITH THE NEW YOKE TIMES AND THE WASHINGTON POST 


The Jerusalem Issue 


SribuUC Sorry, You 


Benjamin Netanyahu on Sunday 
again accused Yasser Arafat's Pales- 
tinian Authority of giving a “green 
light" to the terrorists responsible for 
die latest suicide bombing in Tel Aviv; 
three Israelis died and scores were 
wounded in that cruel blast Secretary 
of Stale Madeleine Albright said there 
was a “perception" but “no concrete 
evidence" that Mr. Arafat had date so. 
But Prime Minister Netanyahu's main 
point remains unassailab le. No country 
can be expected to put up with “the 
mentality (hat says rf we have a dis- 
agreement with someone we can go and 
blow them up. " That is the antithesis of 
what a negotiation ought to be. 

The Palestinians pledged in die Oslo 
accords with Israel to abjure violence. 
They knew that this amounted to giving 
up the bargaining tactic of turning up the 
militar y heat, in this instance the ter- 
rorist heal. But the Israelis rightly in- 
sisted on iL An international public sym- 
pathetic to Israel’s terrible daily burden 
of citizen insecurity nodded in assent 

Mr. Arafat's conduct has necessar- 
ily been at the center of attention. He 
forthrightly condemned Friday's “ter- 
rorist incident" He did not offer the 
unacceptable excuse, as some have, 
that the Israeli stand on Jerusalem 
somehow nullifies his stand on vio- 
lence. But in the course of warning his 
people not to turn violent he has made 
some solicitous bows to his champing 
constituents’ rage. This may be un- 
derstandable, but it is intolerable. His 
duties as head of a would-be state put 
an enormous load on him but not an 


unfair one. He did more than anyone to 
create the very monster of Palestinian 
terrorism that be is now committed to 
slay. He cannot possibly expect to gain 
die prize that be seeks, statehood, at the 
expense of the security of a pre-ex- 

' ^ aiafa 


There was, of course, another pledge 
embedded in the interim Israeli-Pal- 
estiuian accord fashioned at Oslo. Mr. 
Netanyahu skips it by. Israel was to 
submit all the central issues of its dis- 
pute with the Palestinians to diplo- 
macy. Bnt in word and on the ground. 
Israel has now preempted its commit- 
ment to negotiate the final status of 
Jerusalem. Even as Mr. Netanyahu in- 
sists that the Palestinians contain their 
frustration and not abandon negoti- 
ation fm' violence, on Jerusalem he 
short-circuits negotiation. Mr. Arafat, 
having formally sworn off an armed 
response in order to get to the table, 
finds this crucial subject no longer on 
the table. This is a provocative ap- 
proach to the most explosive single 
issue lying between the two sides. 

The Middle East talks are in crisis. 
Both rides have a clear duty and a clear 
interest as well. Mr. Arafat is obliged 
to remove all vestiges of Palestinian 
softness on terrorism. This is a minim al 
and irreducible obligation. Mr. Net- 
anyahu must recalculate an Israeli gov- 
ernment strategy that, in some of its 
aspects, not Yasser Arafat but leading 
Labor tight Ehud Barak warns “may 
lead to violence." The Jerusalem issue 
should go back on the table. 

— THE WASHINGTON POST. 


Sanctions on Burma 


The decision whether to apply sanc- 
tions to Burma for its human rights 
abuses now rests with Bill Clinton. Last 
July. Congress passed a law calling for 
a ban on new American investment in 
that country if its repressive govern- 
ment harmed or rearrested the demo- 
cracy leader Daw Aung San Suu Kyi or 
cracked down on the democracy move- 
ment The president’s top foreign 
policy advisers are divided. For the 
sake not only of democracy in Burma 
but also of U.S. credibility when deal- 
ing with other dictatorial regimes, Mr. 
Clinton should invoke the law. 

■The case for sanctions is more con- 
vincing in Burma than perhaps any- 
where else. If Mr. Clinton chooses not to 
apply them, there is little reason any 
other abusive country should take 
Washington's tough talk seriously. 

By all credible accounts, including 
the State Department's annual hu man 
rights report Burma’s government has 
met if not exceeded the conditions in the 
sanctions legislation. In 1996, the worst 
year of repression in this dec a de , it 
detained hundreds of students and ac- 
tivists and held Daw Aung San Suu Kyi 
under virtual house arrest in December. 
She would be Burma's elected leader 
had the government not annulled 1990 
elections, and she has appealed to 
Washington to apply the sanctions. 

The sanctions would cost American 
business little. The United Stales has 
only about $220 million invested in the 
country, almost all of it in oil and gas 


projects. Many American companies 
have already pulled out in response to 
public pressure and to new laws in 
Massachusetts and several cities pro- 
hibiting government contracts with 
companies that do business in Burma. 

Because investment is relatively 
small, opponents of sanctions have ar- 
gued that the action would have little 
impact, and that other businesses, 
mostly from Aria, could fill the gap. 
Sanctions would indeed be more ef- 
fective if they were joined by other 
nations that have criticized Burma's 
government. So far, Washington has 
not persuaded them, although admin- 
istration officials have made only a 
halfhearted attempt. But American al- 
lies may be more likely to join if Wash- 
ington takes a bold first step. 

American investment is small, but the 
United States is still Burma's biggest 
investor. The country's economic des- 
peration (iis hard currency reserves 
would last only a few weeks) would 
magnify the impact of sanctions. 

Opponents argue that once sanc- 
tions are applied, Washington's influ- 
ence would dissolve. That is a rationale 
for paralysis. U.S. leverage in a case 
like this is useless if it is perpetually 
held in reserve. With Burma there are 
few of the complicating considerations 
dial come with a country like China. IT 
Mr. Clinton ever intends to stand 
firmly behind the principle of human 
rights, this is the time and the place. 

— THE NEW YORK TIMES. 


The Booker Prize 


“The English Patient" was a strong 
favorite in the Academy Awards on 
Monday night, but to some literate 
viewers the real winners are the cre- 
ators, judges and recipients of the 
Booker Prize for fiction, the most in- 
teresting of its land. 

In the past few years, film versions 
of three Bookers — “The Remains of 
the Day,” “Schindler’s List" and 
‘The English Patient" — were nom- 
inated as best picture. What makes this 
especially interesting is that Booker 
Pnze winners are for the most part not 
household names, and their novels 
tend to deal with difficult, depressing 
and unformulaic subjects that would 
stop a conversation in Beverly Hills. 

Consider Michael Ondaatje's World 
War II story about a Canadian nurse, 
her literally burnt-out patient, a Hun- 
garian who can’t remember his name, 
and the nurse’s Sikh lover, turned into 
a film whose most unforgettable mo- 
ment comes when she swings wildly 


through the air to glimpse frescoes by 
torchlight in a Tuscan church. The 


wonderful and intensely felt war sto- 
ries retold by parents and grandparents 
who fought in Europe and Asia. 

Or so one filmgoer thought, because 


the merit of “The English Patient” is 
precisely that it leaves a nagging 
residue, and intrudes into conversation 
for days to come. 

First awarded in 1969, the Bookers 
are selected by a five-judge panel from 
English-language novels written by 
citizens of Britain. Ireland, South 
Africa or a Commonwealth country. 
Barring Yanks might be seen as pro- 
tective affirmative action on the part of 
British corporate underwriters who 
made their millions as colonial food 
importers. But so limiting die award 
underscores the richness of English at 
its formerly imperial margins in Asia, 
Africa, Canada and the West Indies. 

Michael Ondaatje’s roots suggest 
how tangled these origins and influ- 
ences can be. He was bom in Sri l-anlra 
(then Ceylon) in 1943, and is part 
Dutch, English, Tamil and Sinhalese; 
he was schooled in England and in 
Canada, where he has lived since he was 
19. It is the perfect n&sunte fora Booker 
contender. The legendary independent 
producer Saul Zaentz bankrolled “The 
English Patient," offering a lesson that 
will doubtless be ignored by the for- 
mula-obsessed Hollywood studios that 
all turned the project down. 

— THE NEW YORK TIMES. 


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W ashington — so it’s ail ojc. 

now? That’s the word from the 
Clinton folks. They got the mood music 
they were looking for in Helsi n ki: The 
Russians will complain about NATO 
expansion, but Boris Yeltsin will ac- 
cept die goodies that the United States 
offered him to tolerate NATO’s mov- 
ing closer to Russia’s border. 

Therefore, we will have the best of all 
worlds: NATO expansion to Poland, 
Hungary and the Czech Republic, 
vague assurances to the Balts and others 
left out that they can join later, and even 
some progress on anus control thrown 
in. As one U.S. official quipped to me, 
re f e r ri ng to my own criticism of NATO 
expansion; "When do we get to see the 
headline ‘Clinton Right on NATO Ex- 
pansion, Critics All Wrong’?" 

Not yet 

To be fair, if Bill Clinton is able to 
achieve this best-o f-all - worlds scen- 
ario, it would indeed merit real praise. 
My priority is that the arms control 
treaties with Russia be implemented 
and toe reform process there be en- 
hanced. That is what would really se- 
cure European stability. 

If toe administration can deliver 
both, while also pursuing its dubious. 


’re Still Wrong on NATO Expansion 

By Thomas L. Friedman 


politically inspired NATO expansion 
scheme, then it would be churlish to 
oppose this Helsinki package. 

B at we are a long way from drawing 
that conclusion. To begin with, many 
of the key issues involving NATO ex- 
pansion remain unresolved. What will 
happen to all the countries, particularly 
the Balts, that don’t get into NATO 
now? How will the U.S. Congress react 
when it discovers that Mr. Clinton’s 
Helsinki package comes with a price 
tag of at least $40 billion, and a UJs. 
military commitment to defend the Pol- 
ish border? How win the Russian Par- 
liament react to this deal? 

Beyond these unanswered questions. 
I remain a skeptic because this Helsinki 
“success” is based on two white lies. 
The first is that while the Russians don’t 
litre NATO expansion, they have de- 
cided to make tne best of iL In truth, that 
is not what Helsinki demonstrates. 

What it shows is that “Russia has 
concluded it is simply too weak to stop 
expansion," notes Michael Mandel- 
baum of Johns Hopkins University, a 
leading critic of NATO expansion. 


And the problem with ’ 

NATO on such terms, Mr. Mjtedel- *^^ ri _ Russian alliance) andtog 
baum argues, is that up to now the sttU SL Rlissia has not changed- Neva- 
entire post-CoId War security structure feel that a cabtaetfed^ 
m Eu^, whether umfijaB® of 

Germany or the conventional and nu- by f ^ the nabOK I 

dear arms control treaties, hasbeen ive to : V. ; : 

based on Russian consent. NATO ex- n0 ^P^ -J. Qjntonsaid to Mr. YefekH 'r 
pansion will be a departure from toaL tSSnki was' We will pay you to J *' 
After NATO expands, the new Euro- mj Hdsmfa “j™, off**:#* — 
pean order will rest not on Russian P rete ^ ; _„ Dt j ier thanwbatitis.WcwflJ T 
Sent but rat Russian weakness.” NATO f . - 

fe other words, what Helsinki proves ^ * ^ weak ari 6*1 A 

is that the West won the Cold War. Bnt pandtng becauff ^u^toenaintoiw ' * 
we knew thaL The question is, are we cat*e westdi 
makin g the most of it? Should NATO to European 

expansion be a priority even if it weak- member of me ■ wiUj £ j*,; 
e ns Mr. Yeltsin or diminishes cooper- For now, Mr. 

afiaa elsewhere, such as against Iran? bought because ** fflSrions* Mr Cfca*^ >. 
The other white lie i?toe Clinton we should have no dlusio^. v. 

ton s new Europe is oeing 
white lies. Mamma always said: Wheat s . 
you don’t call things by their real name^, 
you get in trouble. --. 

That’s what’s going on here, l oc^t ■ 
know when or where, but this sqrt;gf: 
diplomacy will lead to trouble .So twr- ^ i - - 
don me for sticking with the headline: . 
“Clinton Still Wrong on N ATO Ex- ; 

pansion. Critics Still RighL - • 

The Nev York Times. 


argument rhar expanding NATO will 
stabilize democratic reform in Central 


NATO has changed and Russia has 
changed. In truth, die way to strengthen 
free market democracy in Central 
Europe is by bringing these nations into 
the European Union common market, 
not by giving them NATO nukes. 

But more important, the very reason 
Poland, Hungary and the Czech Re- 


Some Things That Washington Should Be Saying to 


H onolulu — ai Gore’s 

talks in China provide an 
opportunty for dialogue at a 
high level between Washington 
and Beijing. A meaningful dis- 
cussion is needed of areas in 
which misdeeds or miscalcu- 
lation could derail the fragile 
relationship. 

The most immediate area of 
concern is Hong Kong. A less 
than smooth transition when the 
British colony reverts to China 
on July 1 could have disastrous 
results for Chinese-U.S. ties 
and for China's relations with 
the rest of the world as well. 

Vice President Gore needs to 
reiterate the position that the 
United States has an important 
interest in ensuring a smooth 
Hong Kong transition under 
Beijing’s “one country, two 
systems" framework, and in 
accordance with the 1984 Joint 
Chinese-British Basic Agree- 
ment and the 1990 Basic Law, 
even while clearly recognizing 
China's unquestioned sover- 
eignty after July 1. 

It is unrealistic for China’s 
leaders to expect Mr. Gore to be 
sympathetic to their efforts to 
roll back democratic reforms 


By Ralph A. Cossa 


instituted in the last five years 
under Governor Chris Patten. 
But Washington should make a 
dear distinction between those 
actions and a Chinese failure to 
uphold its previously made 
promises. Rolling back Mr. Pat- 
ten’s unilatera l reforms is un- 
desirable; failure to live up to 
agreements made with Britain 
is unacceptable. 

China appears to be commit- 
ted to a smooth turnover. None- 
theless, its handling of demo- 
cracy and free speech advocates 
in Hong Kong could easily get 
out of hand, especially since 
some of them may try to force 
Beijing's hand. Hundreds of 
foreign journalists in search of a 
story wlU add to the challenge. 

The end result could be a 
Tiananmen-type act of suppres- 
sion by Chinese authorities that 
would set back U.S.-Chinese 
relations dramatically. It would 
increase calls in America for a 
“contain China" policy that 
Beijing fears or suspects may 
already be in place despite re- 
peated statements to the con- 
trary by U.S. policymakers. 


A Tiananmen-type incident 
would also have profound re- 
gional consequences. Taiwan in 
particular would see it as proof 
that Beijing has no intention of 
honoring toe “one country, two 
systems* formula. 

On Taiwan. Mr. Gore should 
assure China rhar the United 
States remains commitxed to a 
“one China'’ policy predicated 
on Beijing's pursuit of a peace- 
ful resolution with Taipei. He 
should also stress that the best 
way to keep the United States 
out of what the Chinese regard 
as their internal affair is for 
Beijing to restart its high-level 
dialogue with TaipeL 

In response to inevitable 
complaints by China about U.S. 
arms sales toTaiwan, Mr. Gore 
should send a clear message to 
Beijing and Taipei that such 
sales will be rare and defen- 
sively oriented, and that they 
will in no way imply an Amer- 
ican retreat from the “one 
China" principle. 

Mr. Gore should expect to 
hear Chinese criticism of “ex- 
pansion" of the U.S.- Japanese 


alliance and of the “destabil- 
izing’* nature of U.S.-Japanese 
cooperation on theater missile 
defense. He should emphasize 
that toe allian ce has been “re- 
affirmed" but not reoriented, 
and that it is not opposed to any 
country but supportive of peace 
and stability' in toe Asia-Pacific 
region. As long as China has no 
offensive intent, a defensive al- 
liance cannot be theatening. 

On theater missile defense, 
China should be reminded that 
Japan, like any other nation, has 
a right to defend itself against 
long-range missile threats. 
North Korea is developing such 
missiles, while China and Rus- 
sia already have missiles cap- 
able of striking Japan. 

There are two traditional ap- 
proaches: build defensive sys- 
tems or develop a counterstrike 
capability. Which course would 
China prefer Japan to pursue? 

Mr. Gore should tell Chinese 
leaders that the United States 
does not see its relations with 
China and Japan as part of a zero- 
sum game in which progress in 
one relationship is viewed as a 
setback in the other. 

He should make clear that Ja- 


pan is a strategic partner of thq, 
United States and that theal- 
fiance provides the found&iBB 
for both Washington’s and- 
Tokyo’s interactions with. Bei- 
jing. As former Defense Sec^ 
retary W illiam Ferry noted at a 
recent U.S.-Japanese security 
conference in San Francisco, the . 
alliance is die “linchpin’: 

U.S. security strategy in Asia.- * 

U.S. attempts to im prove ns^ 
lations with China, if they are to 
contribute to broader regional 
stability, have to build upon, w$ - 
seek to replace or imdermm^^ 
the U.S.-Japanese alliance. 1 

Without the protection of tin 
alliance, Japan would find itsdjf v 
under intense pressure to rearmj, 
with offensive weapons. SoTfiej 1 
regional stability that toe alliance 
provides helps to underwrite^. 
China’s tong-term security. 

The writer is executive df- L 
rector of the Pacific Form , & 
CSIS, a Honolulu-based hoh-N 
profit foreign policy research 
institute affiliated with the Cen- 
ter for Stategic and Internationa 
al Studies in Washington. He 
contributed this comment to the 
International Herald Tribune.— 


Drop Unilateral Posturing and Go the Multilateral Way \ 


W ASHINGTON — The 
deal between the admin- 
istration and Congress certify- 
ing Mexico's drug control ef- 
forts, which lays out a lengthy 
set of conditions for next year's 
certification, simply has set the 
stage for another confrontation. 

The tactic is identical to that 
used to get out of the 1993 ex- 
ecutive-legislative confrontation 
over China's most-favored-na- 
tion trade status, which produced 
the nadir in recent Chinese-U.S. 
relations one year later . This deal 
won’t work any better. 

The problem isn’t Mexico, or 
drugs or hypocrisy. (How well 
are we Americans doing with 
our drug problem?) The prob- 
lem is inflexible, one-size-fits- 
all. unilateral certifications, rc- 


Bv Jessica Mathews 


quiring public judgments on 
other countries’ behavior. 

Washington judges the ad- 
equacy of others’ practices on 
everything from sea turtle con- 
servation to anti-terrorism, so 
there is enough of a record to 
know that this popular tool of 
congressional problem-solving 
only looks tough. In fact it is 
feeble, often self-defeating. 

High-profile annual certific- 
ations seriously distort relations 
between the United States and 
other countries by holding the 
whole relationship hostage to 
just one of its elements, and 
often not the one Washington 
cares about most 

The judgments are widely re- 


sented and often do, or would, 
backfire by triggering anti- 
American or extreme national- 
ist sentiment in place of a focus 
on toe issue at hand. (Who can 
doubt that American politicians 
would respond identically were 
any other country able to do the 
same to the United Stares?) 

To dodge the worst out- 
comes. Washington resorts to 
dizzying contortions — waiv- 
ing a sanction on one ground or 
another, imposing the sanction 
but waiving the penalty, 
passing a one-time-only excep- 
tion or using a blatant double 
standard. The result hardly im- 
presses others with America’s 
commitment to the issue. Nor is 


Japan, Europe and North America 


T OKYO — As conceived at 
tiie beginning of the 1970s, 
“trilateralism" was based on 
the idea that democratic West- 
ern Europe, North America and 
Japan had unique responsibil- 
ities toprovide global leader- 
ship. Tne governments soon 
adopted a form of trilateralism 
as well, toe Group of Seven. 

A number of forces pushed 
trilateralism forward in private 
and governmental circles. The 
formula has worked extremely 
welL By any historical record of 
international cooperation, the 
industrial democracies have 
demonstrated a remarkable 
ability to analyze problems, dis- 
cuss differences and frequently 
develop common approaches. 

Trilateralism played an im- 
portant role in the develop- 
ments that led the world away 
from the 1970s (energy crises, 
currency instability, threat of 
nuclear war) toward a less dan- 
gerous and turbulent era in the 
1990s. An examination of our 
own time tells us that this three- 
way cooperation needs to be 
deepened and broadened. 

The international community 
is still often too late in respond- 
ing to humanitarian crises. Col- 
lective international leadership 
continues to be more an aspir- 
ation than a reality, as the woild 
so often continues to rely in- 
ordinately on the United Stales 
to make the first move. 

Demonstrable weariness or 
wariness in North America, and 
the con tinuing caution of Japan 
and Western Europe toward 
taking on roles that they are 
not sure they can politically 
sustain, make the need for 
shared responsibility and bur- 


By Yotaro Kobayashi 

den-sharing as urgent as ever. 

In developing more effective 
trilateralism, we need to under- 
stand, first of all, that we Jap- 
anese, Europeans and North 
Americans cannot remain stuck 
in a post-CoId War mentality. 
We are already deeply engaged 
in a future that requires from the 
industrialized democracies a lot 
more than ruminating about a 
bygone woild “order.” 

We are, for example, far into 
a process of economic global- 
ization that requires s killf ul 
coaching on the port of our lead- 
ers. This is even truer of the 
enormous novel space for prof- 
itable exchange and interaction 
opening up today in the Asia- 
Pacific area. 

At the same time, all our 
countries is undergoing pro- 
found, often unsettling changes 
that make our collective task 
even more daun t ing. 

Effective trilateral coopera- 
tion in the new era requires a 
broader and increasingly com- 
prehensive approach to the vari- 
ous issues we face. This com- 
prehensiveness requires, in 
turn, a much deeper sharing of 
tasks and burdens. 


of our societies, economic re- 
vitalization (especially in Eu- 
rope and Japan), the strength- 
ening of educational bases, and 
coming to grips with a growing 
number of urban issues. 

The essential tasks are do- 
mestic and the responses must 
reflect individual cultural, po- 
litical and institutional con- 
texts, but there is much that toe 
advanced countries have to 
leam from each other. 

Finally, enlargement is an es- 
sential task as trilateralism 
seeks continuing relevance. 
Today its frontiers are in East- 
ern Europe, with its new demo- 
cracies, in Latin America, 
where the autocracies of toe 
1970s and toe debt crises of the 
1980s have given way to new 
hope, and most especially in 
dynamic East Asia. 

The trilateral countries have 
a tremendous opportunity to 
help these countries extend to 
these areas the benefits of good 
governance, high standards of 
living and a sense of partnership 
in which physical coercion or 


it ever possible to compel real 
cooperation. Multilateral pres- 
sure is stronger medicine that 
goes down more easily. 

Compare China's recent be- 
havior on issues debated bilat- 
erally between Washington and 
Beijing to its behavior on issues 
that it had to deal with in a 
multilateral context 

The former group includes 
human rights, trade, Taiwan and 
nuclear exports to Pakistan. In 
the latter are China's startling 
agreement to a comprehensive 
test ban, its nonobstructionist 
role in nonproliferation treaty 
negotiations, its Parliament’s 
vote to ratify the Chemical 
Weapons Convention, and its 
signing of an extraordinarily de- 
manding treaty on global fish- 
eries. There is no comparison. 

fa cases where official inter- 
national will is absent or in- 
effective, new channels now are 
available, ways to move ahead 
that recognize the revolutionary 
influence of new information 
and communications techno- 
logy and that use the rising 
power of business and nongov- 
ernmental organizations. 

Public pressure by one gov- 
ernment against another may 
cause the latter to dig in its 
heels, but pressure from the 
public is different When broad 
international coalitions can be 
built in civil society, issues that 
languish for years under states’ 
disinterest or a belief that noth- 
ing can be done, can suddenly 


move to the top of toe agenda 
and be acted upon quickly. J 

Recent treaties on climatcand - 
against corruption were readied 
in record time - — 16 months 
instead of the usual decade or so 
— because of pressure generate^ ; - 
by environmental groups and, in 
toe latter case, by an organs 
zation called Transparency fa- 1 
temationaL whose meteori^ ; 
growth reflects the changed 
world. Four years ago Trans- 
parency international was onlyL : 
an idea; today it has chapters hr 
more than 60 countries. -'j. 

Rather than spend years slog-’ 
gfag through tedious negoti- 
ations shut off from public at- - 
tendon in order to reach a weak' 
agreement, governments obw» 
can speedily negotiate a strong 
agreement among a coalition of 
the willing, then use toe force of 
public opinion, mobilized by 
NGOs and the global media; to 
bring along the holdouts. 

It is a fundamentally differ^ 
ent approach, now being tested A 
in negotiations started byNGC&f - 
to ban, tatberthan regulate, land 
mines, and to a certain extent i& 
agreements that could evening 
ally make the lonely U.S. po- 
sition on corrupt practices into a 
new international norm. . 

If America’s interest is in eli*i 
citing change rather than in the 
satisfaction of striking a pose, 
new channels offer a better ap* 

preach. It requires more subtlety, 

than big-brother judgments. 

The Washington Post. ? • 


IN OUR PAGES: 100. 75 AND SO YT.ARC ACrt 


1897: Swindle in Italy 

FLORENCE — The too trustful 
Italian is frequently taken in, as 
was proved by the trial of a 
couple of swindlers who ap- 
peared in Florence in 1895 and 
passed themselves off as the 
Marchese and Marchesa di San 
Benigno dei Lustri di Fontana 
Buona and look a handsome 


The habit of making them pro-, 
mises to rival toe more perni-, 
cious one of punning. A lecturer 
said the otherday: “Some ad4 
vaoced women have forgotten tq 
be ladies and have failed to be- 
come gentlemen.” 

1947: Federal Purge 

WASHINGTON — A fora of 


its threat plays no part apartment on the Urns’ Amc, "^HJblGTON — A force of 

In the final analysis, trilat- lived in grand style, ordenng lav- ST 66 ! 0 - ^ 3.000 nefr 

eralism is a form of interna- ishly from the best houses, who mvest tgators may be 

tkmal partnership that bridges never thought to send Monsieur t 1 ™ cany oul Presides* 
civilizations, respects sover- le Marquis toe bilL Word even- d^ 1111311 s order t0 1001 - 

eignty, shares responsibilities lually came from Genoa that the ’ “^Sovemmeot pay roll disloyal 


— e > — j ' — ■ — r — * uwui Una mg . r, , 

In the end, who else but our and burdens, and seeks to ex- marcbese was no other than a ano . suovers *ve employees. To* 
three regions — more than ever tend frontiers to eventually en- certain Alpfaolo Porcella, who m ?¥ require double the 

today the bedrock of free, en- compass a global community. at his father’s death inherited ^ eSent Civil Service Commit 

terprising, accountable society 20,000 francs, and had run away S *° n m unprecedented 

— can provide toe needed lead- The writer, chairman of Fuji with his step-mother’s chamber- °f_ Federal worker 

ership in mastering change, at Xerox , is head of the Japanese maid. f °r Communists, Fascists anrf 

home and internationally? branch of the Trilateral Com- other subversives. It is a big jtrti. 

The partnership needs to andtW™. " 

deepen its cooperation on a 
variety of social issues that at 
first sight seem domestic in 
nature. These include toe aging 


tend frontiers to eventually en- 
compass a global community. 

The writer, chairman of Fuji 
Xerox , is head of the Japanese 
branch of the Trilateral Com- 
mission ; the commissions an- 
nual full meeting ended on 
Monday in Tokyo. He contrib- 
uted this comment to the In- 
ternational Herald Tribune. 


cafain Alpfaolo Porcella, who 
« fas Cher’s death inherited 
ZO.UUO francs, and had run away 
with his step-mother’s chamber- 
maid. 


1922: Epigram Hahh 

PARIS — (The Herald savs fa an ? Ut - . ort ^ r - requiring an ex- 1 
editorial:] Epigrams on the fern- ?^ natl0 ° record of all 

uust movement are common. 2L'L®P| h ? nt ? “d 2.000.000 

present Federal emnlovees. 




ix>\j££l 



PAGE 3 








America Is Searching: 
Is It for Mario Cuomo? 


By Anthony Lewie 


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B OCA RATON, Florida — 
“Isn't America searching for 
Something?" former Governor 
Mario Cuomo asked. * ‘Despite alt 
tire wealth and grandness that is so 
apparent, insinuating itself is a 
feeling that something's missing. 

• "There’s no hero, no heroine, 
, no great cause, no soaring ideo- 
I logy. We are riddled with political 
answers that seem too shallow, 
too short-sighted, too explosive, 
too harsh. 

. “We need something real to 
believe in, to hold onto. 
Something deeper, stronger, 
grander mat can help us deal with 
our problems by making us better 
than we are, instead of meaner, 
that can lift our aspirations instead 
of lowering them.” 
i Mr. Cuomo was addressing 
what looked like a tough audi- 
ence. the American College of 
Trial Lawyers. 

;; But when he finished, the audi- 
ence rose for an ovation. He had 
touched a chord. Those highly 
successful men and women evid- 
ently understood what he meant 
v by the sense of something missing 
in our national life. 

Watching, I thought die 
something was political leader- 
ship. He was calling for a rum 
away from the narrowly con- 
ceived self-interest that has dom- 
inated our politics for years, to- 
ward a more humane tradition in 
American history — toward con- 
cern, as he said, for an intercon- 
nected society. 

Looking at it another way, the 
speech aroused a longing for . . . 
Mario Cuomo. Here was the man 
who brought a subdued Demo- 
cratic convention to life in 1984 
with his rhetoric. Still today, no 
one in either party can touch him 
as a speech-maker. 

Of course that only brings us 
back to the Cuomo mystery. Why 
didn’t be get on that plane waiting 
to fly him to New Hampshire to 
■ file for the 1992 primary? Why 
did be leave the presidential race 
ro Bill Clinton and the rest? 

Now he’s a former governor, 
joking about his reduced status. 
“I was elected a private citizen by 
the voters of New York,” he told 
the lawyers. 

•' But here he sounded readier 


than any other visible Democrat to 
challenge President Clinton on the 
traditional liberal values of civil 
liberties and help for the poor. 
Talking about politicians who 
want to look “tough” about vi- 
olent crime and other social ills, 
he described a series of repressive 
bills that Mr. Clinton signed, 
though without naming him. 

"Even so-called liberals,” Mr. 
Cuomo said, “sign on to legis- 
lation curtailing the rights of im- 
migrants to protect themselves 
from false accusations, limiting 
the writ of habeas corpus, redu- 
cing the protection of prisoners 
from barbaric mistreatment or 
even threatening to allow the chil- 
dren of the poor to go hungry if 
their parents are not able to 
work. 

“The targets? The immigrant, 
the prisoner, the poor, children: 
people who can’t vote or don’i 
vote. Offered up to assuage the 
discomfort and anger of an un- 
happy majority.*’ 

Perhaps liberated by defeat. 
Mr. Cuomo even tackled that 
most sacred of political cows, 
toughness on crime. As governor 
of New York, he said, be had built 
more prison ceils than in the 
state’s entire previous history. But 
the reality was that many of those 
cells housed young men in prison 
for nonviolent drug crimes, who 
left prison “more callous, more 
addicted, sodomized, brutal- 
ized.” 

“As a nation we have become 
the greatest imprisoners in world 
history.” he said. He spoke of 
“poll-watching politicians” who 
“serve up a binge of new death- 
penalty statutes as though there 
had suddenly been discovered 
proof that the death penalty can 
save lives.” In his 1994 crime bill, 
Mr. Clinton proposed, and Con- 
gress approved, dozens more new 
death sentences. 

One of the lawyers asked me 
later, “Might he run again?” 
With Mario Cuomo, who can tell? 
But lis tenin g to him, you know 
what it would be like to have 
political leaders who appeal to the 
best in us — tbe generosity and 
optimism in die American spirit 
— instead of the worst. 

The New York Tunes. 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 

OPINION/LETTERS 


At a Wall Street bar: ‘Listen to this — entire nation goes berserk after 
losing money in investment scheme . , . riots with AK-47s ... government 

falls ... 9 


RAGE 11 


hMWU 





HMWL. 


HMttrt- 



Hnm_ 





By UlVKKSER/Lm Angela Tino Symbol*. 


LETTERS TO THE EDITOR 


Cuba's Economy 

Regarding " Cuba's Economic 
‘Boom’ Is Not A II Thar Apparent" 
(March 10): 

This unsubde attempt to belittle 
Cuba’s economic recovery should 
not go unanswered. Having vis- 
ited Cuba regularly for 25 years. 1 
believe I can correct several 
points. 

First. Cuba’s foreign-invest- 
ment law is more than "slightly 
liberal": the entire economy, ex- 
cept for education, health and de- 
fense, is open to foreign capital, 
and foreigners can own 100 per- 
cent of the companies they es- 
tablish. 

Second, far from "overchar- 
ging" tourists, die hotels, restaur- 
ants and taxis in Cuba are far 
cheaper than anything compara- 
ble in Europe and North America, 
and probably cheaper than those 
in most other Caribbean destin- 
ations. 

Third, one does not pay $150 a 
day to rent an "old" European 
car. New European and Japanese 
cars are rented everywhere at 
prices as low as $45 a day. 

Fourth, while Cuba may have 
been “the” Caribbean spot to vis- 
it until 1959. few Cubans long for 
those days of Batista corruption 
and dictatorship. The 1 milli on 


tourists in 1996 were not just a 
"postrevoluuon” record, but an 
all-time record that will surely be 
surpassed in 1997. 

Fifth, contrary to the writer’s 
observation. Cuba's “supposedly 
dynamic growth” does trickle 
down to every Cuban in the form 
of jobs and probably the best 
health and education systems in 
(he Third World. 

It is true that what is available 
to tourists is beyond the reach of 
the many Cubans without U.S. 
dollars, but most Cubans accept 
this unfairness as necessary to 
preserve what they have gained 
since 1959. 

PHILIP AGEE. 

Hamburg. 

Pirates as Nice Guys 

Regarding “Kinder. Gentler 
View of Pirates" (March 13): 

The world will be greatly 
touched now that revisionism has 
finally got around to pirates. Now 
we have pirates who didn't always 
slaughter their captives. Now we 
have pirates who were egalitarian: 
they shared their loot with humble 
seamen who were also pirates. 
Now we have pirates who were 
efficient: they didn't mess around 
with making their captives walk 
the plank. 


Sorry to doubt this revisionism. 
Pirates were and remain armed 
robbers at sea. They killed or put 
at risk the lives of people who 
were and are entitled to sail tbe 
seas unmolested. I look forward to 
a future article revealing that Bel- 
gian sex offenders who rape and 
murder children really care about 
their victims. 

ANDREW BRUCE. 

Hong Kong. 

Managed Dangers 

Hurrah for Dr. Richard G. Wil- 
liams ("Medicine as Commodity: 
A Dangerous Rx." Opinion, 
March 12) for speaking out on the 
dangers of managed care. The di- 
rection of care more and more 
flows not from tbe expertise of 
doctors, but from the expertise of 
representatives of the managed 
care companies, not from com- 
passion or healing but rather from 
the quest for more profit. Pity the 
working couple who have a child 
with a chronic disease, or the per- 
son with a “pre-existing” con- 
dition that insurers refuse to cov- 
er. 

Profit, quality care and cov- 
erage for individuals and families 
need not be contradictory goals. 

GERALD BOWMAN. 

Munich. 


In Hong Kong , the Sun 
Sets on One Tradition 


By Philip Bowring 


H ONG KONG — The official 
last rites of empire here are 
on June 30. But for thousands of 
British and other expatriates they 
were held Sunday. 

Since its inception in 1976, the 
annual Hong Kong Rugby Sevens 

meanwhile 

tournament has for years been 
something of an expat festival, 
with an influx of rugby fans, 
mostly from erstwhile pans of the 
British Empire, joining tens of 
thousands of foreign residents. 

But 1997 is the year the Sevens 
also happened to be a World Cup 
event. So the last year of British 
rule in Hong Kong became the 
occasion for die most boisterous 
festival of all. It was as foil of 
symbolism as of exciting rugby, 
beer and general bonhomie. 

Never again will so many royal 
bands march and play together on 
Chinese turf as those who enter- 
tained the Sevens crowds. There 
they were with their drums and 
pipes, (tilts and pith helmets, 
trumpets and trombones, the 
massed musicians of tbe Royal 
Hong Kong Police, the Royal 
Marines and the Black Watctil a 
famous Scottish regiment, in a 
quintessentially British display of 
pageantry. 

Never again will Hong Kong 
see such a concentration of 
Caucasian faces as filled the 
40.000-seat Hong Kong Stadium. 
Never again will “Auld Lang 
Syne" be sung in Hong Kong 
with such gusto as shown by so 
many happy, if not entirely sober, 
fans at the conclusion of nine 
hours of rugby on Sunday. 

Bur this great spectacle went 
largely unnoticed by the local 
population. 

Prime-time news on the main 
TV channel did not even cover it. 
despite a splendid performance by 
Hong Kong's own team, which 
went cm to beat Argentina and 
Ireland. The fact is that almost no 
local Chinese over the age of 12 
has ever played what is called here 
the “olive ball game.” and only 
one made the Hong Kong squad, 
whose captain was American and 
whose star player was Tongan. 
Though rugby is growing at 


school level, tbe base is still tiny. 
And despite die progress of rugby 
elsewhere in Asia, in Hong Kong 
the stan may have been too late to 
survive the transition. And while 
the Sevens axe good for tourism, it 
is debatable whether the sight of 
baggy-trousered, face-painted 
young Britons, amiably inebriated 
middle-aged Australians and as- 
sorted Westerners wearing 
bizarre headgear and generally 
acting out caricatures of the "for- 
eign devil" does much to promote 
rugby locally. 

What is beyond doubt is the 
decline of European rugby and the 
rise of the Asian game. Only Eng- 
land and Ranee made it into the 
last eight, and Korea and Japan 
did at least as well as any other 
European sides. Britons could 
find consolation only that the Oag 
of the winner. Fiji, still carries the 
Union Jack in one comer. 

Unfortunately for the post-June 
Sevens. Chinese rugby is in its 
infancy, other than in Taiwan. 
Like most dungs, the Sevens will 
survive the handover, but its orig- 
inal sponsors, Hongkongbank and 
Cathay Pacific Airways, are with- 
drawing. Commerce, not political 
correctness, is said to be the rea- 
son. but some have their doubts. 
Those companies are the last two 
conspicuous British successes in 
Hong Kong, so their backing bas 
been symbolic of a era. 

It could be difficult for the Sev- 
ens to prosper in quite the same 
way when neither the sovereign 
power nor the locals have much 
feel for it, when Britons need 
work permits, or if Hong Kong 
applies more stringent rules about 
player qualification. 

A box at the Sevens may now 
be a must for expat bankers and 
brokers, but Chinese ones stay 
with horse-racing. Governor 
Chris Patten was a keen rugby 
player. His chosen successor, 
Tung Chee-hwa, wasn’t 

The handover events set for 
June 30-July 1 will, naturally, be 
largely a Chinese celebration of 
national reunification, a time for 
Chinese fireworks, not British mil- 
itary bands. So Sunday was a his- 
toric day for old expat Hong Kong, 
and much fun was had by alL 

International Herald Tribune. 


BOOKS 


CROSSWORD 


alPirri JTflv 


RESURRECTION: 

The Strnggle-for a New Russia 

By David Remnick. 398 pages. $25.95. 
Random House. 

Reviewed by 

Christopher Lehmann- Haupt 

Y OUR first instinct is to read a pos- 
itive meaning into tbe title of David 

Remnlck’s engaging and illu minatin g 
new book, “Resurrection: The Struggle 
for a New Russia.” 

■* This instinct seems confirmed by 
Remnick’s own remarks at the conclu- 
sion of his preface: “That Russia has 
Shrvived at all is remarkable; that the 
situation today is not worse — far worse 
— than it is seems to me a miracle. For 
all its trials, for all its mistakes, the story 
of Russia at tbe end of the century must 
be counted as a kind of revival, a re- 
surrection.” 

Yet the deeper you get into his book, 
the more inclined you are to read a 


negative, even ominous, meaning into 
his title. After all. the story he tells is 
essentially one of shattered hopes and 
disillusionment, even more so than a 
Westerner might get from a casual read- 
ing of tbe daily press. 

Beginning with Boris Yeltsin’s oust- 
ing of Mikhail Gorbachev as leader of 
. Russia after the failed coup of August 
1991 and Yeltsin’s subsequent intro- 
duction of a free-maiket economy, Rem- 
nick’s narrative takes a precipitous 
plunge. It vividly describes how the cor- 
ruption and maldistribution of wealth 
created by the Yeltsin government pro- 
duced a longing in the Russian people 
for tbe stability and world-power status 
of the Soviet era. 

As Remnick tells it, this nostalgia 
combined with the failings of die Yeltsin 
administration served to revive the Rus- 
sian Communist Party and to make vi- 
able the presidential candidacy of its 
standard-bearer, Gennadi Zyuganov. In 
fact, so popular did Zyuganov appear at 


CHESS 


By Robert Byrne 


G ARRY Kasparov, at 33, remains 
superb. He showed that in Decem- 
ber by winning the elite Las Pah™* 5 
International Tournament, _ and he 
showed it again recently by winning the 
elite Linares Internationa] Tournament. 

‘ Kasparov gave a good sample of his 
imaginati ve and tactical approach to 
strategy in his defeat of grandmaster 
Predrag Nicolic in Round 5. 

The Scotch Opening, 3 d 4 , for a long 
time considered too elementary to pro- 
duce good, fighting games.was brought 
to life by Kasparov in his 1990 title 
defense against Anatoli Karpov, and 
since then it has appeared fainy re S~ 
ularly in top tournament play. 

. The black center pawn is knocked out 
, after 3...ed 4 Nd4, but Black s devel- 

Nd5 becomes a struggle to see whose 

queen is more obstructively placed, a 

* 

■ In Game 8 of Kasparov’s champi- 


M[KOUC®LACK 



onship match with Viswanathan Anand 
two years ago in New York, he played 
the insecure I0Ba3d6 1 1 edQe2 12Be2 
Bg7 13 cd Be2 14Ke2 Bal 15 Rcl O-O- 
Ol, which favored his opponent. But 
now he substituted 10 g3!? to prevent 
possible annoyance from ..Nf4. 

Tbe counterattack on the white center 
with 12...f6 seemed called for, yet Kas- 
parov was eminently ready for it with 13 
Qh5J? Nikolic rescued his attacked 
knight with 13.~Nb4, simultaneously 
threatening 14..JNc2. But Kasparov 
loftily ignored that to attack with 14 h4! 
Nikolic could not go through with his 
intended !4.~Nc2 15 Kdl Nal because 
of 1 6 hg. Thus, 16...fg 17 Qh7 Kf7 18 e6! 
de 19 Bg7 Rg8 20 Bal gives White 
bishop and knight for a rook. Moreover, 
I6..J® 17 Qh7 Kf7 18 Qh5 Kg8 19 Ne4! 
Rf7 20 f4! d6 (if 20...ef?, 21 Qh8! mates) 
2 1 f5 R£5 22 Qb7 KffS 23 Q£5 Qf7 24 Qf7 
Kf7 25 Bal yields White a piece. 

Nikolic kept the critical h line closed 
with 14...g4. But Kasparov threatened, 
with 15 Kdl, to trap me knight with 16 
e3. 

On 1 7 Bd3. defense with 1 7.. Jb6 loses 
a pawn to 18 ef Bf6 19 Qg4 Qg7 20 Qg7 
Bg7 21 Bg7 Kg7 22 f4. 

Bin after 17..JE5 18 B£5 Be5 19 Rel d6 
20Be4! Bb721 Qg4Qg722BdSKh823 
Be5 de 24 Qg7 Kg7 25 Ne4, Nicolic 
found himself in a lost pawn-down end- 
eame. 

y\nd after 27 Ra2, Nicolic, two pawns 
behind, gave up. 


SCOTCH GAME 


kaspatowWmite 

position after 13 . ..M ** 4 


Vhfce 

Kasfruv 

1 el 

2 NR 
3d4 

4 Nd4 ' 

5 Nc6 

6 e5 

7 Qe2 

8 cl 

9 b3 

10 g3 
U Bb2 
12 NdZ 

13Qb5 


Black 

NlfcoHe 

89 

NCfl 

ed 

Ntf 
be 
Qfi 7 
Nd5 


White 

Sasp’nw 

14 M 

15 Kdl 

16 a3 

17 Bd3 

18 Bf5 

19 Rel 

20 Be4 

21 Qgl 

22 Bd5 

23 Be5 

24 Qg7 

25 Ne4 

26 Nc5 

27 R82 


NBaoBc 

84 

c5 

NC6 

S 

Be5 

d6 

Bb7 

0»7 


one point that Yeltsin seriously con- 
sidered calling off the 1 996 elections. All 
this p rompts the reader to recall the title 
of Remnick’s Pulitzer Prize-winning 
previous book about Russia, “Lenin’s 
Tomb,” and to see a more foreboding 
meaning in tbe title “Resurrection.” 

Not that this somber stray makes for 
gloomy reading. Quite the contrary. 
Remnick ’s skilled technique as a reporter 
produces the utmost liveliness in his nar- 
rative. Sharing Alexander Solzhenit- 
syn ’s belief (against Tolstoy.) that people, 
not events, are what determine history, 
he interviews most of the major actors in 
the period he covers: Gorbachev, Zy- 
uganov. Solzhenitsyn and many others. 

His eye for the amusing detail rarely 
fails him. Of the intensity with which 
people ax first believed in Yeltsin, he 
writes, “For some, that belief was even a , 
prerequisite for carnal engagement.” as 
in a personal ad in a Moscow newspaper 
run by a woman seeking a mate with 
whom to stan a family, "Those not 
sharing the political views of Yeltsin 
need not apply.” 

Describing the supposedly forbidding 
fence that surrounds (he Solzhenitsyn 
property in Cavendish, Vermont, Rem- 
nick writes, “Any self-respecting rabbit 
could have dealt with it." During the 
same visit, one learns that despite 
Solzhenitsyn's disdain for Amen can 
popular culture, one of his sons watched 
the 1986 World Series with his mother 
and reported that “we listened to rock 
’o’ roll, all the usual things." 

When Remnick visits the home of 
Ruslan Labanozov, “the self-proclaimed 
Robin Hood’ 1 of the Chechen opposition 
to President Dzhokar Dudayev, a heav- 
ily aimed dwarf” leads him into tbe 
house. "The dwarf wore a bandanna and 
a bandolier,” he writes. “He had a kind 
face.” Interviewing Vladimir Kryuch- 
kov, tbe former KGB chief, he asks what 
Kryuchkov knows about AJgCT Hiss. 
"Who is that?” Kryuchkov replies. 

Still, for all the perspective he lends 
die Russian scene during tbe past half- 
dozen years, Remnick leaves us in grave 
doubt about die future. Posing a final 
question — Can Russia change? — be 
lists the many historical factors working 
a gainst democratic capitalism in Russia: 
xenophobia, absolutism, indifference to 
pro p erty rights, contempt for the weak- 
ness of Western liberalism, and a “yearn- 
ing for all-embracing ideologies rooted 
in the anti-intellectual and eschatological 
style of die Russian Orthodox Church.” 

Against this negative tradition. Rem- 
nick cites die resistance to absolutism that 
ha* recurred throughout Russian history. 
But die hope this inspires in him seems 
under min ed not only by the way demo- 
cratic impulses have withered during die 
period he writes about here, but also by 
another major theme of his book, namely 
the extent to which the taste for serious 
literature declined once the system that 
negatively inspired it had collapsed. 

Measuring tbe respect for Russian po- 
etry under Stalin, Osip Mandelstam re- 
marked, “There is no country in which 
more people are killed for it." Rem- 
nick 's history leaves you wondering if 
die spirit of Russian democracy can sur- 
vive without murderous repression. 

Christopher Lehmann-Haupt is on the 
staff of The New York Times. 


ACROSS 

« It's hailed by 
city dwellers 
9 The final 
frontier* 

19 Philosopher 
David 

MPtow pullers 


is Director WeBes 
1C Ukraine's Sea 
of 

«7 One socially 
challenged 
ia Scottish estate 
owner 
te "Oh, myl' 


JGcnryx 

Est 1911, Paris 

‘Sank Roo Doe Noo’ 


A Space for Thought. 


aoBadnews . 
as Philosopher 
John 

as It comas from 
the heart 
aeTampa 
neighbor, 
informally 
at Maladroit 
33 “Common 
Sense' 
pamphleteer 
M Equestrian's 
handful 
M Smidgen 
37 Lots of activity 
41 Baseball star 
«a Like 

Superman's 

vision 

«S Less tanned 
44 Kickoff 
response 
47TVjoumafcst 
Poussaintetal. 
se Highway curves 

4B Window cover 

81 Like some 
chicken 

ST Talk 

so Alternatives to 
suspenders 
•i Keen 

82 One (or the road 

•Xiao bin 
a* Reply to the 
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esThaiwesa 
ckneonel* 

«* Planted 
«7 Word with high 
or hole 


1 Chinese 
dynasty 
•Skater's move 

3 Dry: Prefer 

4 Slothful 


s Comfort giver 

• Short-sheeting 
a bed. e.g. 

7 Stage remark 
■ P&rtofa 
parachute 

• Prefix with 
•morph 

W Upper part of a 
bam 

f 1 Terrorist’s 
weapon 
12 Swab 
is ‘The Three 

Faces of * 

ti ‘Psycho" 
setting 

23 Sturdy furniture 
material 
as Tot’s 
noisemaker 
sa Rose's home, in 
song 

37 Common vipers 
2S Globe 
*9 Ford model 
ao Galileo's 
kinsmen 

31 Amos's partner 
32Partof *www‘ 

34 Luke preceder 

35 Santa 

Caflf. 

33 First-rate: Abbr. 
3> Flip over 
40 Shoal 
49 Confer (upon) 
49 Volcano detritus 
47 Got the suds 
out 

4» 'Look out r 

M Starbucks 
serving 

S3 Kindergarten 
instruction 
as Gambling game 
94 The Bard’s river 
ssToy with atari 
S» Singer Bricked 



QNew York Times /Edited by Will Shorts. 


Solution to Puzzle of March 24 


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international herald tribune, 

TUESDAY, MARCH 25, 1997 
PAGE 12 



Fur Is Back . but It’s Fur Lite 


P ARIS — A sloucfay hand-knit- 
ted sweater over a pair of pants 
— what could be more sym- 
bolic of easy dressing? Except 
that the “woolly" is made of knitted 
strips of mink. And its symbolism is of 
the return of fiir and ail its trimmings to 
the international runways. 

Rev ill on’s fall-winter show was a 
symphony of autumn colors — berry 
red, lichen green and earth brown. And 
that was both for collars in fox or 
sheared mink and for ribbed cardigans, 
pea jackets and leather pants. Carrying 
the monochrome roues from top to toe 
made for a strong, graphic collection 
that showed how to wear fur in a 
modem way — as just another fabric 
option. 

That meant that Revillon celebrated 
the lush glamour of a sand-beige 
cashmere bathrobe coat along with its 
sable collar; and the iridescent taffeta 
pants that went under a red fox duffel 
coaL But designers Thomas Maier and 
Carole Rifftort at the same time cut a 
fashion dash with fur, sending out a 
chinchilla coat worked like a brick 
wall, or mink, sheared to avoid the 
bulk, and dyed in jewel colors. 

At the heart of the collection was a 
sporty elegance that came both in the 
linear cut and in the winy accessories: 


By Suzy Menkes 

International Herald Tribune 





a* f$£!L<Z 


•*» * I 

'JaPZ 








knitted scarves with dangling fur pom- 

? Dms, a fur-ball purse or a Davy 
rockett hat. A cape, caressing the 


shoulders of a pants suit, was another 
way of treating fur both as an ac- 
cessory and as part of an outfit. 

Is fur really staging a comeback? In 
Milan and Paris, fur collars and trim- 
mings were used not just by traditional 
designers, but also by the avant-garde. 
From Anna Molinari through Gianni 
Versace, there were fox-trimmed car- 
digans: fur edgings hit the most un- 
likely runways, as in the neo-couture 
collection by Yohji Yamamoto and the 
savage goat-skin skirts from Alexan- 
der McQueen. 

The only way that fur looks right is 
if it is super-light. It is no coincidence 
that fei there are often a fair substitute, 
with brightly-colored marabou or 
Mongolian Iamb used interchangeably 
for me long boa — die must-have 
accessory of the season. 

Yet it was significant that whereas 
Yves Saint Laurent reworked his fox 
fur chubbies of 20 years ago in feathers 
for fall, at Gucci, a gold standard of 
what is hip and modem, thecoats were 
the real fur thing. 




Revillon $ fibbed cardigan with fox collar and velvet pants. 



N EW YORK — There is a mar- 
ket that most advertisers 
would kill for: the 3.6 million 
Americans, or 4 percent of the 
nation's households, with a net worth of 
$1 million or more. But since most 
advertisers are trying to reach those very 
individuals, how do you get their at- 
tention? 

Capita] Publishing LP. which is 
owned by FMR’s Fidelity Investments, 
the mutual-funds giant, thinks it has 
found a way. It has just started The 
American Benefactor, a glossy 
quarterly that aims, in its words, to 


By Judith Miller 

New York Times Service 


vertisers to rejection and skepticism by 
others. Especially widespread is con- 
cern about the magazine's requirement 
that it be given the names of donors 
selected to receive The Benefactor. 

Donor lists are the equivalent of trade 
secrets for nonprofit groups, and phil- 
anthropies are nervous about Capital 
Publishing's ability to keep its vow of 
confidentiality. 

On display at the lunch was the 
magazine's First issue, which features a 
cover story on BUI Gates of Microsoft, 
the world’s richest, if not most char- 
itable man. The issue also has a profile 


“foster and reward giving" by celeb- 
rating the nation’s great philanthropists 


rating the nation's great philanthropists 
and “the spirit of giving." 

Since charity begins at home, the 
magazine's founders also want to make 
money. They brought 130 development 
directors of leading charities and other 
nonprofit groups to a three-course 
luncheon at the tony "21" Club in 
Manhattan. 

Randall Jones, chief executive of 
Capital Publishing, which also pub- 
lishes Worth and Civilization, and 
Roberta d'Eustachio, the magazine's 
founder and president, said that 3,000 
nonprofit groups had already ordered 
250,000 subscriptions to the journal — 
which is not sold on newsstands — to 
distribute as gifts to their principal 
donors and prospective patrons. 

But some of those groups are nervous 
about appearing to spend their donors’ 
gifts on these magazine subscriptions, 
and will only order subscriptions if 
someone else pays. Others are concerned 
that nothing in the magazine states that 
Fidelity is its ultimate owner. 

In part because of such concerns, 
reaction to The Benefactor has been 
decidedly mixed, ranging from wild en- 
thusiasm by some subscribers and ad- 


The quarterly 
American Benefactor 
aims to celebrate 4 the 
spirit of giving. ’ 


of Bette Midler — who, unlike Gates, 
did grant the magazine an interview. 

It also included a feature called “Jane 
Austen, Estate Planner" and advice on 
how to brush off charity appeals and 
plan a remainder trust It contains 52 full 
pages of ads. as well as customized 
messages by charter advertisers, includ- 
ing Credit Suisse. 

With advertising and subscription 
each accounting for roughly half of the 
magazine's revenues. Jones predicted 
that the publication might turn a profit 
as early as next year if it maintained its 
current level of subscribers and got 425 
ad pages, as opposed to the 300 com- 
mitted to its fust four 1997 issues. 

Profitability so soon would be highly 
unusual in the magazine business, 
where profit margins are low and it 
takes an average of four to five years for 
a new entry to break even. 

Most industry experts praised the 


magazine's marketing strategy as smart, 
innovative and highly cost-effective. 
Luring nonprofit institutions as sub- 
scribers has an immediate benefit It 
makes them the marketers of the product, 
effectively building a circulation base 
without mass-market mailings and ex- 
pensive mass-market advertising. 

But some nonprofits wouldn't bite. 
The Lincoln Center Theatre was offered 
free subscriptions for key patrons from a 
corporate donor, said Linda Janklow, the 
theater's chairwoman. But she declined 
when told she would have to give the 
magazine the names of its recipients. 

“I am very protective of our donors 
and I would never give that list out to 
support any commercial venture,” 
Janklow said. More than a dozen prom- 
inent nonprofit institutions echoed her 
view, the Metropolitan Museum of Art 
among them. “We are not Jerry 
Maguire," said Harold Holzer, the vice 
president for communications. “We 
don’t show anyone the list.” 

D'Eustachio, a former fund-raiser 
■who created the magazine’s concept, 
said that donor lists were held in the 
strictest confidence — she signs a writ- 
ten pledge to that effect — and used only 
to ensure that a donor receives a single 
copy of the magazine, not one from each 
of several charities to which he con- 
tributes. "To have value," D'Eustachio 
said, ‘ ‘the gift must be exclusive." 

Many other nonprofit groups ex- 


pressed confidence in the group’s con- 
fidentiality pledge and its decision to hire 


fidentiality pledge and its decision to hire 
Price Waterhouse to safeguard the lists. 

Beyond the question of donor lists is 
the question of image. With increasing 
pressure to justify all spending not di- 
rectly related to its programs, a charity 
might be hard-pressed to explain the 
subscription expenditures. Spokesmen 
for The Benefactor confirmed that about 
3 percent of the subscriptions are un- 
derwritten, or paid for by corporate or 
individual supporters of the nonprofits. 


Where 


Tatsuno’s FUgfu : 
Of the Butterfly^ 



vibrant, yet subtle fabrics on display. .> 
But Tatsuno also has a Wesiem sute, 
for be worked in London's Savile Row 
and set up business in England, before 
moving to Paris. His recent runway 
show, held in die Palais Royal arcaddS, 
showed how he married his Asian 
spirit with a British background to 
t produce a style that can .best be 
k described as "eclectic . set 
ma nti c -""Tbe stow included* 
iHi \ dress in which the butterfly 
f'\. that might appear as a priat 
w % on a kimono became thrcje- 
i dimensional, both as decon- 
anon and in the wingtri 
• . bustle back of the gotul 
i,;^ f Tatsuno has a boutique {165 
Galeriede Valois, Jaxdinsdn. 

Patois Royal, Paris 1) whole 
/ the clothes form foe yin to foe 
/ yang of the adjacent exhibition. 


Giving New Gloss to Philanthropy 








i cs,: 


. "“K. • 

V .,v*r'. :■> 

Ar- ^ 


. rrr> s .' . •*§ 


F&5^ — 


■ ■ .■ ■■■■■'id 


Oscar de la Renta and Eliza Reed at the opening of his new boutique on the Faubourg-Saint Jionore* ol "* r ^ 


Oscar Time! Not Those Oscars 


International Herald Tribune 

P ARIS — It*s Oscar time! No. 
not those Academy Awards — 
although the gleaming gold 
dress worn by Hillary Clinton at 
the inauguration might be just the gown 
for a Hollywood hopeful. 

A version of it hangs in Oscar de la 
Renta's newly opened store on the Fau- 
bo uig- Sain t- Honore . The bijou bou- 
tique — all pale walls with touches gilt, 
marble and mirrors — is yet another 
sign of the renaissance of a shopping 
street that is putting up a strong fight 


against the rival Avenue Montaigne. 

"I wanted to be there because this is 
the one block in the whole city that 
every foreigner in Paris goes to — and it 
is important to have that visibility,’ * said 
de la Renta. He was referring to foe 
Faubourg’s cluster of designer stores 
foal includes Ferragamo, Hermes, Lan- 
vin, Lagerfeld, Sl Laurent and 
Valentino, with Lacroix, Rykiel, Un- 
garo and the ever-expanding Versace 
emporium up the street. 

Although Ralph Lauren Has had a 
Paris store for 10 years, de la Renta is the 


first American couturier to set up short. 
Because of the designer's haute couture 
role at Balmain, the French house ini 
vested in the new boutique. j 

De la Renta says: “My French cusj- 
tomers are my friends." Those celefc 
rating at the store or joining the dinner 

honor ^ Hiibdft 
and IsabeUed Omano included his step- 
daughter Eliza Reed, Alexis de Rede, 
t-arolyne Roehm and Fauboure-Saim- 
Honore neighbor Valentino. * 'J 


Suzy Menkes 


Now with Club Europe 

On, uiW'.r 

: you can make the flight with pleu 

.".•or ( :l‘i? Curtipc SLr.it ,i Villi;;!)!:; e:i :tli turouev;; 

ity of room to spare. 

Mi;;!"'- 

rv i- - p. . 

British Airways 


Thinking A] 












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PAGE 3 


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JCerafo^feSributie 

BUSINESS/FINANCE 


Microsoft 
Delays New 
Software 

r* ’- 

Technology Stocks 
Plunge on News 

Bloomberg News 

REDMOND, Washington — Mi- 
crosoft Corp. shares fell Monday after 
die company said die next version of its 
popular Windows 95 software would be 
delayed until 1998, missing the Christ- 
mas selling season. 

■: Microsoft tumbled $4 a share to close 
at $90 after falling as low as $87.50 
during the day. The drop helped drag 
down the entire technology sector, even 
though the broader market posted a late- 
day rebound. The Dow Jones industrial 
average closed 100.46 points higher at 
. 6,90525. 

■- ■’ The updated Windows operating sys- 
tem, which runs the basic functions of a 
personal computer, was expected to be 
released in the second half of the year. 
While the delay would not have a big 
impact (Hi Microsoft's earnings, ana- 
lysts said, the lag increased uncertainty 
about growth at the most visible com- 
puter-related companies. 

“Microsoft has been one of the few 
stocks that hasn't been affected by the 
weakness in technology," said Chris 
Galvin, analyst at Hambrecht & Quist. 

• Microsoft told computer makers not to 
expect the updated Windows 95 oper- 
ating system to be installed c® computers 
by this year's holiday season, Cara walk- 
er, a Microsoft spokeswoman, said. 

=’ The company plans to have a test 
version ready during the first half of 
.1997 and has not set a shipping date for 
the final version, Ms. Walker said. 
j “People are concerned about a delay 

;* -hi the next major revision of Win 95," 
said Frank Michnoff, analyst at Don- 
aldson, Lufkin & Jenrette. 

<■ Because Microsoft is expected to let 
Windows 95 users have free copies of the 
updated software, die delay would not 
have a big impact on earnings, Mr. Micta- 
hoff said. Also* revenue from the update 
has been figured into 1998 results, rather 
than 1997's, Mr. Galvin said, 
vl Still, concerns about Microsoft's 
delay brought down shares of personal 
computer makers and other companies 

See TECHNOLOGY, Page 14 


TUESDAY, MARCH 25, 1997 



ke H «qmii/nK Ajw uw d Pro* 

Alcn Greenspan regularly consults with Congress on policy. On Tuesday, the Fed will debate a rate increase. 

Chairman Greenspan, the Wizard 


By Linton Weeks 
and John M. Berry 

Washington Post Service 

WASHINGTON — Alan Green- 
span, chairman of the Federal Reserve 
Board, and Arthur Levitt, chairman of 
the Securities and Exchange Commis- 
sion, were playing golf early one morn- 
ing at the Chevy Chase Club. 

Greenspan told this joke: Three pa- 
tients at a mental institution wanted to 
be released. The head psychiatrist gave 
them a simple test. What is two plus 
two? The first patient said, “Five." 
The second said. “Wednesday." The 
third got it right. “Four," he said. The 
first two patients returned to their 
ward. Patient 3 was free to go. 

“By the way," asked the doctor as 
Ihe man was leaving, “bow did you 
know the answer?" 

“Easy,” said the patient “I just 
added five plus Wednesday." 

It's an old gag. Simple, straight- 
forward, somewhat politically incor- 
rect, but it says a great deal about Mr. 
Greenspan. He understands the power 
of language. He is fascinated by num- 
bers. And perhaps he's not the drab, 
dieary guy people might think he is. 


Some people, especially money 
managers, think about Mr. Greenspan 
a lot They watch his every word, mark 
his eveiy move, graph his every grin. 
As chairman of the Fed, be guides U.S. 
monetary policy, adjusting short-term 
interest rates to change the cost of 
borrowing for almost everyone, and 
with a couple of choice words he can 
momentarily send the stock market to 
heaven or belL 

On Tuesday. Greenspan will preside 
over the mysterious ritual that is at the 
heart of his power. The Federal Open 
Market Committee, the Fed’s top 
policy-making group, will gather here 
to debate whether to raise short-term 
interest rates for the first time in two 
years. Mr. Greenspan's testimony be- 
fore the Joint Economic Committee on 
Thursday suggested that rates very 
likely will go up, but even the most 
careful Fled watchers can't be sure 
what the wizard of monetary policy 
will ultimately opine. 

Whatever Mr. Greenspan decides, 
two things are certain: He will carry his 
Fed colleagues with him, and the fi- 
nancial markets will respond. 

He is a peculiar wizard, at once 
secretive and highly social. He is 


everywhere and nowhere at the same 
time. He is as omnipresent as sand but 
as forthcoming as a sea sponge. And 
that may the secret of his success. 

Mr. Greenspan is as close as Wash- 
ington comes to pure mind. Cool and 
controlled, he takes in the world as data 
bits, sifting through what be needs and 
sorting out what he doesn’t. Society 
flows past him. washes over him. He's 
there at the party, but he's not. He's 
engaged at the hearing, but he’s 
aloof 

He is, perhaps more than any other 
public figure, off in his own world. 

Trying to write about Alan Green- 
span’s Wold is a tricky business. In 
many ways he can be belpfuL He al- 
lows his friends to talk to reporters — 
sometimes. He will set the record 
straight. But he has never called a news 
conference while at the Fed, and he 
refuses to be interviewed on the re- 
cord. 

Trying to read the 71 -year-old chair- 
man is even more difficult Decoding 
what he says about the economy is like 
untangling a fishing line or untossing a 
salad. 

See GREENS, Page 17 


PAGE 13 


A I R CANADA 

A Breath of Fresh Air 


Under Fire, Krupp 
Drops Thyssen Bid 

Chances of Friendly Merger Rise 


By John Schmid 

Itaenuaional Herald Tribune 

FRANKFURT — Krupp Hoesch 
AG, under mountin g public pressure 
before a massive rally Tuesday, 
dropped its hostile bid Monday to take 
over its rival Thyssen AG as prospects 
brightened for a friendly merger of Ger- 
many’s two biggest steel groups. 

Thyssen, once the underdog in what 
began as a corporate raid, appears to 
have turned the tables and will probably 
end up with dominant management con- 
trol of the merged steel operations of the 
two companies, spokesman at both 
steelmakers said. 

Thyssen's steel mills are more mod- 
ern, have greater capacity and have been 
more profitable than Knrpp’s, which had 
a loss last year, giving Tnyssen room to 
bargain from a position of strength in the 
talks, the companies said. 

Krupp’s 11,000 steelworkers and 
Thyssen's 13.000 employees would 
probably face layoffs in a combined 
company , a Krupp spokesman said. Both 
companies already planned to cut several 
thousand jobs regardless of any merger. 

Monday’s announcement was a sign 
that the companies were well on then- 
way toward the creation of what would 
become Europe's biggest steelmaker. 

The chief executives of the two 
companies will continue to discuss the 
merger of their steel operations without 
the threat of Krupp reactivating its 
highly leveraged 13.6 billion Deutsche 
mask ($8.1 billion) unsolicited offer to 
acquire all of Thyssen. 

The announcement came as tens of 
thousands of steelworkers prepared to 
travel from Germany’s Ruhr Valley 
steel region Tuesday to much through 
Frankfurt’s financial district and keep 
pressure on Deutsche Bank AG, 
Europe's most powerful bank and one 
of the most critical players in the Knrpp- 
Thyssen corporate drama. 

On Monday, several hundred 
Thyssen employees picketed Deutsche 
Bank’s branch in Duesseldorf, carrying 
banners reading “Banks: Hands Off 
Thyssen’ ’ and “Tell the Bankers to Shut 
Up.” Along with Dresdner Bank AG 
and Goldman Sachs, Deutsche Bank 
supported Krupp’s- original takeover 


plans with financing and advice. 

“The steelworkers are taking then- 
protest to where it may really count," 
said Holgar Schmieding, an economist 
at Merrill Lynch in Frankfurt. 

Tuesday's demonstration, the latest 
in a series of mass protests against eco- 
nomic change across Europe, will take 
place despite Krupp’s retreat, according 
to the IG Metall union, which is spon- 
soring the demonstration. 

A union spokesman, Joerg Bar- 
czynsi, said the march would take place 
because Deutsche Bank could not be 
trusted and because the hostile bid was 
‘ ‘such a crass abuse of bank power that 
it urgently appeared to need a demon- 
stration against it" 

The union expects at least 30.000 
Thyssen steelworkers to gather on the 
city's opera square across from 
Deutsche Bank headquarters. Helmut 
Schuckardt of the IG Metall union at 
Thyssen's flagship plant in Duisburg 
said be expected a far larger turnout 

The mood is “very aggressive" 
among those in the Ruhr Valley who 
have signed up to board the 600 buses to 
Frankfurt Mr. Schuckardt said. “This 
is not just about the steel industry. It is 
about the entire society." he said. 

Coal miners from the same region 
remain disheartened after the Bonn gov- 
ernment moved to cut coal subsidies this 
month, he said. Unemployment in the 
Ruhr, now 17 percent would rise as 
high as 25 percent if a steel merger led to 
the feared number of layoffs, he said. 

Deutsche Bank renewed its call for 
the two companies to merge their steel 
operations. “Only through a speedy 
new order in the Goman steel industry 
will jobs be secured for die long term.” 
it said. 

Ahead of the protest a Deutsche 
Bank management board member, Ul- 
rich Carte llieri. announced he would 
step down from the supervisory board at 
Thyssen after its meeting Thursday. 

Thyssen’s steelworkers, who re- 
mained on strike Monday, have lashed 
out at what they see as a betrayal by a 
bank that sits on its supervisory board 
but at the same time advised a com- 
petitor on an unsolicited takeover. Mr. 
Cartellieri had not informed Thyssen's 
executives of Krupp’s impending bid. 


Thinking Ahead /Commentary 


PRIVATE BANKING 




Trade Rules Could Help Russia Reform 


W ASHINGTON — During tire Cold War. the access as if tfa< 
economic failure of the Soviet Union was in the Russia continue 
West’s strategic interest Now, of course, the state-trading nai 
reverse is true: The Western interest is that The West mi 
Russia become a p ro sp erous, firee-market society, fully in- sitivity to Mr. 1 
tegrated into the international economic and trading system, preferential tre* 
The success of capitalism in Russia will be just as economic organ 

important in keeping Russians 

friendly to the West as the new se- “ pwnr n 

curity unks explored by President Bill The pressure OI W iU 

Clinton and President Boris Yeltsin in M , trv pwAtprin mi. hp llfiP d 

Helsinki last week. And the West now enn T cmena can DC useu 

has a golden opportunity to steer the tO force major changes. 

Russian economy in the right direc- 

tion. The reformist administration ap- ..... . 

pointed by Mr. Yeltsin this month looks like die best not see why Mas 
: pote nti al negotiating partner on international economic dispute, should 
- issues that the West could ask for in the foreseeable which Russia dc 
future status, m Japan : 

Western governments are already signaling that their top NATO enlarges 
priority wilf be to bring Moscow under the discipline of the Buttbekeypc 

multilateral trading system by accelerating Russian entry signal to China. 
- into die Geneva-based World Trade Organization. that China s req 

In Hrfsiniri Mr. Clinton promised to aim for Rusaan on smelly comi 
membership in 1998. Thar will be a tall order. Senous sure that iteipng 

. l cz j Ln.u nAf uAr orortAil Hip mlf»c ra wfirli 


By Reginald Dale 

International Herald Tribune 


WTO rules. European Union leaders warned this month 
that Russia could no longer have the best of both worlds. 
Moscow could not expect theEU to give Russian goods free 
access as if they came from a market economy, while 
Russia continued to distort trade and investment flows as a 
stale-trading nation would do. 

The West must walk a tightrope. While showing sen- 
sitivity to Mr. Yeltsin’s domestic needs, it must not seek 
preferential treatment for Russia in the WTO or other 
economic organizations for political reasons. 

Washington has already irritated Ja- 
■ pan by pressing for an increased Rus- 
of WTO sian role in the annual summit meetings 

, , of the Group of Seven industrialized 

CRH DC U6Cd nations as pat of the political payoff to 

r chnmwa Moscow for the enlargement of the 

North Atlantic Treaty Organization. 

Quite understandably, Tokyo does 
not see why Moscow, with whom it still has a serious border 
dispute, should have enhanced s tarns in the G-7 — for 
which Russia does not qualify economically anyway. Such 
status, in Japan's view, should not be accorded in return for 
NATO enlargement, in which Tokyo is not involved. 

But the key point is that the West must not send the wrong 
signal to China. The West has tried hard to persuade Beijing 
that China’s request for WTO membership will be judged 
on strictly commercial, not political grounds, so as to be 
sure that Beijing makes the changes needed to comply with 

.1 1 r_: 1J I„ TT L...M M 


S? on Moscow's entry bid have not yet started, the rules ofworldtrade. The same should obviousl 
ions cm mi Moscow, as Mr. Yeltsm anoarentlv accepted m F 


^ridels at stake. Moscow, as Mr. Yeltsin apparently accepted in Helsinki 

Russia’s credentials as a That means, though that Russia must be ready to ne- 
. . , ™ ” . ~ in^nnnlirical terms Mr. Yeltsin also wants to ' gotiate a significant liberalization of its economic behavior. 

P? country is now an internationally Moscow must also convince its future WTO partners that its 
demonstrate that his country a now an throunhom the conntrv. which may be difficult. 


(lemonsuaic uuu. “ — • — . — - 

respected market economy — which would bolster support 

- at home for his reformist policies. 

The ptoblem is that Russia is still a long way from having 

: a full-fledged market ^steire economy Knd^xl wito 
crime and corruption, aind big change wall be 
, trade and pricing policies — for instance, to comply with 


writ runs throughout the country, which may be difficult 
To do so, Moscow would have to bring insubordinate 
regions to heel crack down on crime and corruption and 
assert the rule of law. All that needs to be done anyway . The 
West should now, discreetly but firmly, apply the pressure 
of world trade rules to help bring it about 


CURRENCY A INTEREST RATES 


Cross Rates 


Match 24 Llbid-Lfbor Rates 


March 24 


j. t ojl fa i*«. bn 
Andante USB 1 * U» UM “ 

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1 SDK UW UEt5 ZBIS 7J6S ^ 

OostoV m Amsterdam. Larder, MOrvu Pads and Zurich. P 

Other Dollar Values 

AntataS 1.2715 JJJJ JJ^fraac 

AoMnsdL 11JW «**.»■** 

otewite 8JSS6 ££?*** Portesa* 

Czech kmnM 79 A 5 m£ Rossm** 

DmUtaHH 6M6 !«•*** cnditHri 

Egypt pound 3SM2 KWM «** 

L Forward Rates 

r n— , °r. . 

Powtaeritei l-«» J^S StaK* 

CtefiOB fetor 1,3735 U7» 


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t LSK 7 UUB 
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iHnanttt S»W-5tt MS-3% 2-ZVr, Mfe-AM m-3Vta Wt-U 

,3-montti 5%-SM 3VP-3M T*W- 14S1 6Vo-6fk »-Wi 4T0-4H 

fr^ionm 6-6H 31H-3W m-2 3VW-3VS 4Vk 

1-pr 3^'*- 3?r> ]»-2 3(0-Wi Va-'Va 

S ootem ShiIm. Uovds Bank. 

Rafas app/knblc to Interbank deposits of Si mBtar minimum (tx 


Mnpte 
ILZeatoidS 
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PM- peso 

Pattznfetv 

Portescufe 

BOS ROM 

SorfrtP - 

Stef 


S. Afr. imd 
5.Kor. wan 
Sued, krona 

TteanS 
Thai bom 

TWUsngra 
UAEAhan 
VOms. bafle. 


MHtay »fey 

\3236 121-B5 121.S 
1^4553 14510 \MM 


Key Money Rates 

UteSMB dose 

D Ucw twII SJOO 

PiteraM MA 

Federal fmds 5H 

AMoy CDs item 5J2 

180-day CP dealers 557 

3 watt Tranroy bBI SM 

l^eorTranory bW 5J1 

-tyurTmmry tlfl &2S 

5 year Tranaty aote *57 

7-year Treasarr note *13 

10-narTresssry note 471 

30 2 e . ar Treasury hood 493 

ManBI Lynch 3dday RA AM 


3-aonlh terhte 


400 400 

Of* 400 
AH AH 
AVk 6Vs 
Oht, 6V» 
7S9 741 


MiLWWl mta 

Caflnmey 
1 -noaHi iBftrtanfc 

a laiukte. 

ft-BOam RHn™ 

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Gera—y 

Loabardralo 

CoBnoaor 


laterae—ea me 110 3.10 

CMnraey 3Vn 3HW 

1-aonlh hferhaak 3V6 w 

3tenaiWHhaik w* 

6-men hitotek 3H 3H 

lO-yaarOAT 541 5J0 

Sources: Reuters. Bloombmu, MenW 
Lyncb, Batik of TBkyo&IUtiblali!, 
Oamcatenk, QmM Lyonte. 

G ° W 4NL PJW. ChW 

Zaheh 35170 350.15 -1J0 

Leaden 3S345 Wi an 

Haw York 3SX30 350.90 -2*0 

US. dedars per ouittLarHfot! ofhdol 


14yt»Bmd 


mdtSs&tog pdas New 1 

awv 

Sauce Realms. 


We’re not just on the map. 
We’re all over it 


it’s not only our vast worldwide 
network that keeps us at your 
side at all times. 
It’sourtotalcmimftnienttoser^ 
your unique demands, wherever 
you may be. 

From the time we opened our 
first office in Switzerland in 1876, 
Credit Lyonnais has earned an 
enviable reputation for Private 
Banking based on dialogue and 
personal relationships. 

The founder of Credit Lyonnais, 
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succinctly when he created the 
bank's motto: 



"Business is people, not just 
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This has been the very essence 
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We listen well to our clients' pri- 
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But there is yet another dimen- 
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Our Geneva subsxSary, specialized 
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Let’s talk. 



CREDIT LYONNAIS 


Private Banktnq Network: 

Switzerland; Geneva tel. 41 22/705 66 66 - Headquarters for Credit Lyonnais International Private Banking 
Basle tel. 41 61/284 22 22- Zurich tel. 41 1/217 86 86. Lugano tel 41 91/923 51 65 
Paris tel. 33 1/42 95 03 05 • Luxembourg tel 352/476 831 442 - London tel 44 171/499 91 46 
Monaco tel 377/93 15 73 34 - Vienna tel 431/531 50 120 - Montevideo tcl 598 2/95 08 67 - Miami tel 1 305/375 78 14 
Hong Kong tel. 852/28 02 28 88 • Singapore tel 65/535 94 77 




PAGE 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 


THE AMERICAS 



Source: Bloomberg, Reuters 



Lehman Profit Beats Targets 


Bloomberg News 

NEW YORK — Lehman Brothers Holdings Inc. 
on Monday became the latest big Wall Street firm to 
announce higher profit, as earnings in its first quarter 
rose 38 percent. led by gains in its investment- 
banking and trading operations. 

Lehman, the fourth-biggest U.S. securities firm, 
said earnings in the quarter ended Feb. 28 rose to 
$144 million, or $1.16ashare, from $104 million, or 
79 cents a share, a year earlier. 

The earnings exceeded most forecasts, which av- 
eraged around 90 cents a share. 

In late trading, Lehman's shares were quoted at 
$31,875, up Si. 

“We had a good quarter — it's another step 
forward for us," Tu bman ’s chief administrative of- 
ficer, John Cecil, said. Lehman’s return on share- 
holders’ equity , a key measure of profitability, rose to 
16.1 percent from 12.6 percent a year earlier. 

T .a<rt week, Goldman Sachs Group LP said its first- 
quarter profit rose 60 percent, Lehman and Goldman 
both benefited from rising stocks and low interest 
rates, which increased their underwriting and mer- 
gers -and-acquisitions businesses, analysts said. 


But some UJS. securities firms whose first-quarter 
results include March may be hurt by rising interest 
rates, as investors have been expecting that the 
Federal Reserve Board will increase its overnight 
lending rate Tuesday, when its policy-making board 
meets, to help stifle inflation. 

“Trading volume has slowed down a bit due to the 
backup in rates” in anticipation of Fed action, Mr. 
Cedi said. 

Lehman's revenue, excluding interest expenses, 
rose 13 percent, to $925 million, in the first quarter. 
Investment-banking revalue rose 14 percent, led by 
gains in mergers and acquisitions, stock underwrit- 
ing. derivatives, high-jtield bond trading and un- 
derwriting, and the firm's business with countries in 
the emerging markets of Asia, Latin America and 
Eastern Europe. 

Those are the businesses that Richard Fuld, Leh- 
man’s chairman, said the company most build to 
improve returns, because they have higher profit 
margins than the firm’s debt business. 

In the first-quarter results, Lehman’s return on 
equity exceeded Mr. Fold’s target of 15 percent for 
the full year. 


Dollar Holds Steady 
On Eve of Fed Meeting 


Gw*pa*lbjO*rS*ZFrt** Dopor** 

NEW YORK — The dollar was 


lotemauoauJ Herald Tribune 


Comsat to Sell Dish-Making Unit 


marie and yen Monday as traders 
speculated that the Federal Reserve 
Board would raise interest rates 
Tuesday. 

The pound, meanwhile, rose 
after Britain reported an unexpec- 
ted current-account surplus. 

Traders said the dollar was not 
likely to move much in either di- 
rection if, as expected, the Fed's 
policy-making committee raises its 
taiga rate for overnight loans be- 
tween banks by a quarter-point, to 
530 percent 

“I think the dollar won’t get 
much of a bounce” from a quarter- 
point Fed increase, said Elliott Dix, 
chief currency trader at Signet Bank 
in Richmond, Virginia. “The mar- 
ket’s already priced in this move.” 

The dollar was quoted in 4 PJV4. 
trading at 1.6868 Deutsche marks, 
barely higher than 1.6866 DM on 


expectations when he told a joint 
c ongre ssional committee it vasiSr 

act ‘ ‘preemptively . to 

keep inflation low. _ 

While many traders are expect- 
ing fee Fed to raise rates by a quaite- 
of a percentage point, some .see j 


' (M ra ' f* J 
i j slight ^ l P 


foreign exchange 


Friday, and at 122885 yen. up from 
122650 yen. 


Very briefly: 


• Avenor Inc. said Domtar Inc. was seeking talks on ac- 
quiring Avenor and Repap Enterprises Inc. in a stock swap, 
just as Avenor prepared to complete its 2.44 billion Canadian 
dollar ($1.77 billion) purchase of Repap, with a shareholder 
vote on that transaction set for Wednesday. 

• CFX Corp. will buy Community Banksfaares Inc. and its 
subsidiaries Concord Savings Bank and Centerpomt Bank 
for about $96 million, creating New Hampshire’s banking 
business, with assets of $2.8 billion including the previously 
announced acquisition of Portsmouth BanfcShares Inc. 

• Federal Express Corp. was spared a Supreme Court review 
of a federal appeals court ruling that it was not liable for more 
than $2.1 million in pension payments. The Teamsters Pen- 
sion Thist Fund of Philadelphia contended the payments had 
been improperly avoided through the sale of Hall's Motor 
Transit Co. by its parent. Tiger International Inc^ before 
Tiger merged with Federal Express. 

• H&R Block Inc's tax-preparation fees rose 1 8 percent, to 

$474.7 million, in the first two months of the year, as the 
number of returns prepared rose 7.9 percent from a year 
earlier, to 8.2 million. ' Bloomberg. Bridge News 


Coopted byOurSztfF’zm Ddfxadrr 

WASHINGTON — Comsat 
Corp. intends to get out of the satel- 
lite dish-making business as part of 
a plan announced Monday to focus 
on its satellite communications ser- 
vices and digital networking oper- 
ations. 

According to the plan, Comsat 
will sell "substantially all” of its 
Comsat RSI unit, which makes and 
integrates earth stations and wire- 
less and antenna communications 


systems. The company did not place 
a value on the unit 

Comsat bought RSI in 1994 for 
$ 150 milli on. It is based in Sterling. 
Virginia, has offices in Clarksburg, 
Maryland, and employs 1,700 
people in various locations in the 
l/nited States and overseas. 

Comsat also said it would review 
its annual dividend and is continu- 
ing to look for a buyer for Ascent 
Entertainment Group Inc., an 81 
percent-owned unit it plans to spin 


off to shareholders if it is not sold. 

Ascent includes among its hold- 
ings a movie studio, a hotel in-room 
television business and the Denver 
Nuggets professional basketball 
team. 

CV»Hij*a t also Said it inwnrte*^ to 
ask the Federal n wirntmipaiimK 
Commission to stop regulating how 
much profit die company can make, 
a move the com p any says reflects a 
more competitive co mmunications 
environment. (AP. Bloomberg) 


Earlier In die day, die dollar was 
DM 


as high as 1.6931 DM and 123.19 
yen on the expectation of a rate 
increase; higher U.S. rates interest 
toad to enhance the appeal ofdollar- 
denominated deposits and bonds. 

"There's potential for this to be 
what traders call ‘Buy die rumor, 
sell the fact.' ” Mr. Dk said. 

Anticipation of a rate increase 
grew in recent months as the U.S. 
economy showed signs of strength. 
Last week, die Fed's chairman, 
Alan Greenspan, reinforced those 


small chance for a half-poira iak 
crease, and some forecast ao-a- 
crease ai all. 

“If nothing happens, thenmaybe 
stock and bond markets womdxaBy 
and drag the dollar up with them, 
said John Beerting, chief currency, 
trader at Norwest Bank i n. M m- 
neapolis. A rise of half a point, on 
flw other hand, “would stock 
people,” he said. “Stock and bead 
maricWft would get trashed pretty 
good on that” . . . 

The Fed last changed rates Joel 
31, 1996, when it cut the federal 
funds target rare by a quarter+posu, 
to 5.25 percent, and cut the discount 
rate, at which the Fed lends to 
banks, by a quarter-point as well, to 
5 percent. The last time ft raised 
rates was Feb. 1, 1994, whm-it 
raised them half a percentage paint. 
Many- traders bought dollars m the ; 
days before that move, then sold 
.them immediately afterward--. 

Against other major currencies, 
the dollar was quoted ai 1.4584- 
Swiss francs, up from 14575 
francs, and ai 5.6935 French femes, ; 
up from 5.6855 francs. The pound 
rose to $1.6195 from $ 1.605a. . 

. . . ( B loomberg r AP) : 




■ . v 


K ' ■■ 


TECHNOLOGY: Microsoft’s Stock Plunges After Company Delays Launch of Windows Update 


Continued from Page 13 


Weekend Box Office 


The Associated Press 

LOS ANGELES — "Liar Liar” dominated the U.S. box 
office over the weekend, with a gross of 532 million. Following 
are the Top 10 moneymakers, based on Friday's ticket sales and 
estimated sales for Saturday and Sunday. 


l.UorUor 

fUntversofl 

S 32 mnnan 

3 Selene 

TWamerBmsJ 

S 11 ndlflan 

3 . Return of ttwJedl 

ffluBBCBltWW 

S 7 JmilSan 

4 .jimeteZluno(e 

{Walt Disney) 

SdJmlltkm 

5 . Private Ports 

(Paramount) 

SA6n*IDon 

6. Dannie Brasco 

(Tit-Stari 

S 35 mRB 0 n 

7 . Sting Blade 

(Miramax) 

SSmunaa 

Slaw lanes 

(New Urn Cnema) 

S 2 Amfflten 

9 . The Empire Strikes Back 

(TuatUtCerOsrPaO 

S 2-5 rnlTUon 

<4 The Engflsh Patient 

(Miramax) 

SI. 9 milEon 


that benefit from demand for new 
software releases. In the past week, 
industry leaders such as Cisco Sys- 
tems Inc. and 3Com Corp- have told 
investors that business -deteriorated 
in die first two months of 1997. 

PC makers get a boost from new 
software. The release of Windows 95 
in August 1995 pushed up PC sales, 
although analysts said they had not 
expected Windows 97 to help sales 
as much as Windows 95 had. 

* ‘We weren't projecting it to be a 
major market stimulus.” said Bruce 
Stephen, an analyst at International 
Data Corp., a market research. 

Intel's shares fell slightly, while 
other stalwarts in high technology 
such as Hewlett-Packard. Compaq 
Computer and Dell Computer pos- 
ted sizable losses as well. 


Microsoft’s software, code- 
named Memphis, is expected to add 
Internet features and work with the 
next version of the company’s In- 
ternet Explorer browser, used to 
navigate the Internet and the op- 
erating system. 

Separately, Intel unveiled an ini- 
tiative to give personal computers 
the power of work stations to 


workstations made by companies enough to keep lenders’ profits from 
such as Compaq Comparer Coro, expanding tins year. 

Intel in January introdneed its MMX Citicorp, BankAmerica 
technology, which improves mul- . Chase Manhattan all rallied, 
timedia nmctic 


and 


U.S. STOCKS 


improve video, graphics and three- 
dimensional images for personal- 
computer users. 

Intel said it was working to make 
PC chips, standards and software 
more powerful. 

The chipmaker already has begun 
encroaching on the market for high- 
end 3-D graphics wife its Pentium 
Pro chips, which are being used in 


ions. 

“We are in a battle for the users’ 
attention,” said Intel's chief oper- 
ating officer. Craig Barrett. He pre- 
dicted a tenfold improvement in per- 
sonal computers' visual content 
within three years. 

Microsoft led a general drop in 
technology shares, although blue- 
chips posted a broad rebound. 

While the Nasdaq co m posite index 
fell 1 1 .41 points to 1 24266. the S&P 
500 Index rose 6.79 points to 790.89. 
Declining issues outnumbered ad- 
vancers by a 13-to-9 margin cm tire 
New York Stock Exchange. 

Bank shares rose as some in- 
vestors said that a single rale in- 
crease by the Fed would not be 


One long-time optimist on the 
stock market, however, told clients 
he was now pessimistic. 

“Interest rates are too high,” said 
Don Hays, chief investment arategist 
at Wheat first Butcher Singer. 
“They’ve moved up to a point in 
which they'll restrict economic activ- 
ity. When you restrict economic 
activity, yon restrict earnings growth 
and stock-market advancement.” 

When rates on risk-free invest- 
ments such as Treasury bills climb, 
stock investors expect to be com- 
pensated by a higher growth rate in 
earnings. The yield on a one-year 
Treasury bill now is atom 5.83 
cent, up from 5.42 percent on 
14 and its highest since Sept 20. 


"You could take the viewpoint 
that the market has factored in ahike 
in rates.” said Ricky Haningtna, a 
stock market analyst at Interstate/ 
Johnson Lane foe. 

Investors continue to hammer 
companies that expect to fell short 
of earning forecasts. Medic Comb- 


the company said first-quarter 
mgs would be at least 33 perce n t 3 
below analysts’ expectations be- 
cause of loweMhan^expected sales 
of its medical softwme. . 

U.S. bond prices rose, pushing 
yields down, as traders speculated 
that a Federal Reserve interest rate ■ 
increase would help keep inflation 
at bay. The benchmark 30ryear - 
Treasury band rose about 34 of a 
point in price, pushing its yield 
down three basis points, to 6.93 per- 
cent. (Bloomberg, AP) 


S.jl,. 


.v!.' 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Monday’s 4 PJU. Close ,s “ 

The top 300 mosJ octree stores, 
up to the dosing on Won Street. 

The Assoaatsd Press. 


Sola H$I LOB LjW Qrtt 


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71k 

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ion 

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Esfc Hi* t» lasts as* indexes 


Most Actives 


March 24, 1997 


Lew Latest Chge Qptat 


tfigb Low Latest Qtga OpM 


to* Low Latest Chgi Qpiea 


Dow Jones 


loot a* 


NYSE 


Higb Lb* Lutes) Otoe Optra 


ORANGE JUICE (NCTIO 
jsam-amteri 


Indus igjIUS 690681 678064 4 WL 2 S ,10046 
Trans 242335 243121 2409.17 MEL 29 . 7.40 
uw V\M ro3\ cam tdm *\js 
Dnp 7125*2 214405 211177 214534 *21117 




Standard & Poors 


13* 11% 

» 


industrials 

Trorep. 

UIMfes 

Finance 

SPjOO 

SP 100 


HUH Lav 


Tatar 


— 91537 921.69 

- 567.89 573.77 

— 19125 193.16 

- 91-21 9187 

- 704.10 790.89 

— 763-19 76888 


EJCatal 

AT&T* 

CtSHCAS 

PMMr 

IBM 

TeWe* 

wn inert 

Men* 

cocoa* 

HeoriPi* 

TeHrw 

PopsJCos 


58109 39U 
5407 39 
52373 IT* 
51407 TVS 
4851? 35V| 
45775 39» 
45414 116H 
44643 13(41 
43778 40. 

37007 

34951 9715 
31478 60 Vi 

32S3& 

2BS64 33* 


36b 39V, 
35=* 37* 
1214 32* 
7644 7644 
35 

.371* 3784 
112V* 115^ 

as'sa 

33 

SB-'* S9V* 

W SH 
71V* 7544 
37Vi 324 


-It* 

*** 

-74 

+ft 


Grains 


♦ft 

- 21 * 

*44 


corn room 

LOOabu minimum- can* sef 
Movto 299V* 295% 299 
JW97 300V* 277% an 
Sap 97 294*1 290* 294V4 
Dec 97 297*4 2 *V* 297>i 
MwVa 296V* 791 296% -Vfc 

Estste NA. Rfs-ste 59.336 
RVsopenlnf 377783 off Z337 


Moyto 

B53C 

B-6C 

8670 

+180 

KteO 

JUlto 

86J5 

KUO 

8155 

-OS 

5*510 

Seow 

&SI 

sue 

085 

+045 

uti 

Nwto 

905G 

»JD 

8985 

+085 

1AQ6 


-I*. 154J9S 
—1 llOtal 
-Vl 17,903 


EsLsdes NA Mi 
Frfjopen W 26 J 97 off 2 


stSes uas 


iEq P, J , :£lT 2 0 ?MJ 0 — O 5810 S 327 

124J0 12450 12455 — 0-5* 1124 ££!WsRn*'5iP 


8.127 


Metals 


Sffit 

M5NR97M 


WTtaei 


PLC5y§ 
PMC O' 


17* 17 

** ft 
ft 91 
49* 29* 

2 t* » 

47 46V* 

4 ft 

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] 29* 

11* 11 
15* 15 

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H «• 
40» m 
2ft 2ft 
2 «t » 

17ft 17ft 
M* 9 
12ft lift 
16ft lift 
4ft 3ft* 
1515 13ft 

Si* lift 

SP* *H 
lift 14 
20ft 19ft 
3ft* 3ft. 
12 ft 12ft 
13ft 13ft 

P* n* 
i* i> 
4ft 3ft 
5ft 5 
71V* 2BW 
2t» 29. 

77ft 17 
IS* 17ft 
17ft 17ft 

W* 
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19ft IM 
9V* (ft* 

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7ft 7 
1 »* 

3ft *5 
13ft 12ft 
5ft I 
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19* 1ft 
16 14ft 
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m. s*. 

59* 5ft 


NYSE 


Nasdaq 

VaL We* la* 


is 
»r 


41403 
521 JC 
37176 
26441 
307S1 


411A7 

51421 

36833 

763JB 


41600 

sum 

37120 


*120 

*142 

+3.16 

+184 

*409 


Nasdaq 

asssi£ 


Mtoostll 

deco 

MedCmas 

WadeOui 

AMMal 


w«k 

23202 93ft 




Insurance 

Homes 

Tramp. 


12SDJ2 123196 134200 -12(77 
lffilfi 103464 1M2T> -10JJ0 

1409.74 140197 I 407J14 *0JB 

145063 144216 1443.46 4L33 

174234 173564 174134 ,Z77 

86856 65461 856.17 -964 


Ascend 

(Trades 




.122 
2I1B43 131ft 
13432 2 lift 
420*0 24ft 

•1621 re 

J7151 iim. 
57031 51ft 
50797 2Sft 

2S 8 40 

S9S m 

4*559 34 
45177 91 


JZ* 

45>V6 47ft 
11 12 

TS 1 ** 

23ft 
41ft 
10ft 105* 
47ft 51ft 
26ft 28ft 
38ft 39ft 
63ft 65 
12ft 129* 
32Vi 37ft 
85ft 90ft 




-3ft 

.’4 


SOYBEAN MEAL (OOT7 
100 tm- Mar* tar Ion 
MOV 97 JJ7J0 272JO 274.40 
Jul97 272J0 8(780 25970 
Aug 97 24150 26000 260J0 
Sep 77 246JX1 744-00 244.00 
0099 22L2D 23U0 22100 
DK 97 22150 22000 22DJ0 


Est.sdes NA FrTvsdes 19729 
FrfsapenM inure aK 874 


-100 47475 
—340 27,668 
—470 8.718 

—400 S. 9 S 7 
-UB 4795 
9783 


GOLD (NCMX3 
ICO trove 
Mar 97 

Aw 97 35370 34940 
Mor 97 

Am 97 35600 35180 
AUB 97 35700 SL 70 
Oct 97 25850 35 JD 
Dec 97 36170 39750 


35040 
35050 —260 43672 
35198 — LTD 2 
moo -890 43715 
3 S 30 -aoo 10788 
357 -B 0 —370 5 «C 
36040 — 380 21634 


FebH 35150 36300 36300 -290 
Est.stfes BUBO Fn’s. sates 49634 
FTTsopenW V 677 M op 3180 


S.U7 


*3! 

♦ift 

♦» 


j* 
-V* 
. ft 
♦ft 


SOYBEAN OtMOBOT) 

60000 its- cents per Ri 
May 97 2460 23 J 0 

Jut 97 24 L 75 2470 

Aug 97 2490 2465 

Sep 97 2195 2160 
Oct 97 2490 2178 

Dec 97 2562 2190 

Estsatei HA. Fife. sales 15,140 
RfSaPWW 9 B 73 T off 394 


2385 

2476 

21® 

2465 

2171 

2590 


-OS 45781 
—4150 28718 
—064 5707 

—068 3764 

—0-50 3783 

11620 


Ml 6 RADE COPPER (NCMO 
29 UI 00 Rn- ceita tar Bx 
Mar 97 11100 11790 U 7 re 


AMEX 


AMEX 


99163 58105 997.94 -128 SM* 


«>* Dow Janes Bond 


NTNCoi 


20 Bands 
10 Utilities 
10 Industrials 


10262 

9963 

10561 


are 

-0JJ3 
+0JJ2 
— 008 


L£»8oy 

82v 9S 

Haftta 


20633 7»S* 

iff r 

42K 4ft 


78Kd 


79ft 


5306 

5193 

4949 

45S2 

4107 


19ft 

9V* 

ZM 

5^ 


7ft 
3 ft* 

09* 6ft 
199* 19ft 
* 9Jft 
S* 21* 
6ft Aft 
49* 4ft 


SOYBEANS tCBOT) 

MD 0 In mMnum. cams am tnahd 
May 97 840* B7fc 831ft -10ft 79671 

Jut 97 840 Vi 828 Vj 832ft -9ft 

Aug 97 820 S11V4 81514 —9 87® 

. Sep 97 758 7S 75T6 -8ft 57T3 

:»• Now 97 r \ Oft 70S 70514 -7 ft 31751 

** Est.satu NA. Rfisctaj 656M 
FrfsapenW 188,193 off 1257 


Aor 97 IlitO 
May 97 11270 
An 97 ni40 
6497 10820 

AW 97 10665 
Sob 97 10560 
Od97 104J0 
Nav97 10100 


11270 

mas 

109.05 

W760 

10660 

10470 

18370 

10020 


—065 
11270 —160 4638 
T1Q95 — L15 23672 
10965 -105 1689 

10760 -075 8669 

10600 —065 668 

10470 — 035 4JH2 
10370 —030 633 

10270 -030 747 


10 -YEA* FRENCH GOV. BONOS (MAT I FI 
FT 500000 -pH Of KX) pet 
-too 2 12774 12766 4002154344 

Sep ST 12634 12623 12626 +062 1151 
Dec 97 9604 9604 9566 + 0 JB 0 
91366 . Open Ms 154495 off 1047 . 
ITALIAN GOVERNMENT BONO (LIFFEJ 
rn_20Qi • 

Jwt 97 
Sep97 

BA sees: 56492 . Frew.aoleK 43192 
Prew.OpenhAi 10 M 51 up 386 

EURODOLLARS (OB) 

'« ndion-MsanflOpct. 

Aor 97 9474 9422 9423 

Moy 97 94.15 94.14 9111 

Jon 97 9447 9406 HJP 

Sep 97 9183 9180 9183 

Dec 97 9340 9158 93 L 4 D 

Mar 96 9049 9047 9349 

Junto 9040 9 U 7 93 J 9 
Sep 98 9131 9329 9130 

Dec 98 9321 9119 9320 

Mnrto «.» 93.18 9119 

Junto II.IS 9013 93.15 

Sep 99 9111 930 93.11 

EsLSCte NA. FWiSCHes BOOTS 
FtTsopaW 2 ^ 44^72 off 
BRITBH P 0 W 4 D (CMBU 


JN 97 7 SL 57 7465 7547 + 061 - 16 JSJ 

Oet 97 7 L 50 7605 76 J 0 + 050 . U 72 

Decto 7640 7620 7170 +OS 0 21771 

Mtrto 7740 7730 7740 ♦042 1 . 98 * 

Merit 1020 +043 SS 

Est. sales NA FfTv 5 « 4 » ZOSZ 3 
Fri'jopeDW 76442 UP 3123 
HEATH 4 COIL (NA 4 QO 


41499 
24411 
505.590 
+002 370324 
+002 250474 
+081 210195 
+003 160730 
+O 01 123 JQ 7 
+081 104.176 
♦OBI 80419 
+082 74495 
♦042 56410 


Apr 97 56.10 
May 97 5640 
Junto 5620 
Jnlto 5625 
Aw 97 5685 
S«P 97 5740 
Odto 5825 
Navto 5880 
Dec 97 930 
Jan 98 


S 45 -033 20712 
& 2 S -089 86402 
SS5 -040 13478 
SS» -040 13.185 
Sta -040 OW 5 
57 J 8 — 0 J 5 5,181 

380 -025 5475 
SIJS -020 4460 
».]5 - 0 J 5 U 03 
BJO 4430 

g. soles NA. Frfs. 50 tes 22.795 
FffsopHlW 122415 off 837 


55.15 
5540 
BJ5 
5540 
5640 
57 JO 
5U0 
5078 

59.15 


CREENSf 




Junto 14196 1J8S 14I7B 
5a>97 14170 14982 14152 
Dec 97 14126 

Estate NA RTs-Ste 0732 
ftfs open irt 36420 off 15oi 


35277 

752 

91 


ES.ste 7400 FrYvste 12880 
Wsopenint 57,127 up 834 


+ft» 

■ft 

♦ 8 * 


-ft 


-ft Trading Activity 


NYSE 


sssr 
w 

Nearh . . 
He* LOW 


1226 

*8 

54 


« 


Nasdaq 


UnctarapHi 

TeftdfcsiMs 

KS25? 


1286 

2122 

2343 

5753 


n 


WHEAT (CBOT7 

5400 bu ntakntarv cents par buUMi 
Movto 390 385 386ft -3ft 27430 

JU77 3Dft 378ft 380ft -1 41277 

Sep 97 383 381 382ft -7ft 5257 

Dec to 392 389 390ft —7ft 5,795 

Est.ste NA Fm-Ste 17474 
Frfs open Ir7 7949S Off 454 


SAVES (NCMX) 

S000 Irvi cents par 
Mar 97 51880 51280 
Apr 97 

Movto 52180 51280 
Julto 526 lS 1 517.60 
Sec 97 529.90 52380 
Dec 97 53880 53080 
Jan 98 . 

Mcr9B 


517.10 
ST7J0 
51920 
5SA90 
529 JO 
53740 
S4DJ0 
54540 


EM.ste 11400 FtTs .-xies, 18489 
Fn'sopenW 90321 off 2748 


+130 294 

+120 3 

+3J0 54402 
+3-20 18810 
+120 3810 
+120 5.175 

+120 13 

+330 5352 


CANADIAN DOLLAR (CMBU 
100400 cUIon. s per 0*1 Or 
Junto 2315 J 290 J 292 

Secto J3t3 J 338 J 334 

Decto J 389 2380 J 7371 

Morto J 410 Jsn JOB 
Esl.ste NA SYTs. sales 12.123 
firfsopenire 77817 up 77316 


71,156 

48n 

1884 

695 


LKHTSMSTCSUDE (NNEn 

14)00 bbL-. (MOTS Her BBl 
Atovto 21.59 2182 2182 -049 9 & 4 T 3 

JUnto 2145 21 JM 7180 57 J 1 B 

Ju 697 21 J 1 2095 2095 -029 27 J 4 B 

AU 897 7188 2087 2087 -023 wSS 

SePto 70.99 3075 MJ 5 Zoj 4 13433 

Ocito 2087 2074 2074 —016 15405 

Novto 2080 2071 2071 — aifl 124 M 

9 ^” jo - 0.11 27413 

-WI 9 B 2040 2067 2067 —007 lUn 

2058 2050 »J8 -087 7 J 4 J 

Mar 98 MM 

Aprto 3 M 0 2090 2050 +021 3413 

Ma »98 M-K M sat 

a.Jte NA Ws-ste 79 J 96 
FrfsopenW 3928 © up 12123 


37859 — 380 12428 


AMEX 


Market Sates 


AOranced 

Dadfara 

Itodwraed 

Tetremues 

Ne*Hi9» 

New Lows 


207 

341 

200 

748 

10 

15 


738 

II 

14 


NYSE 
Am ex 
Nasdaq 
madams. 


442.15 

1783 

560 J 8 


61049 

2094 

571.12 


Uvestocfc 
CATTLE (CMBU 
40400 On.- owta nor fc. 

Apr 97 69 2D 6035 6862 

Junto 64J7 £LS7 6482 
Aug 97 6485 63JD 6377 
Ocito 67JD 64.95 6787 

Decto »J5 89.15 »J0 

Fefato 7065 7025 7045 


EsL sates 1 S 4 B 7 Frfoste 17422 
Frf* open Inf 107479 off 1116 


♦047 3 L 297 
♦ 025 27410 
♦037 21461 
+022 15.731 
+015 7 JS 1 
2422 


PLATINUM (NMSt) 
StDroLraAnMri. 

Apr 9 J 38000 377 JO 
May 97 

-M 97 381 JO 379 JO 38080 -280 

OS 97 38159 38120 383 JS -160 

Janto 38540 — 160 

ES. soles NA Ftfiste 1256 
Fit's open int 20,139 off 552 


OBtAAANAIARK (CMOS 
> 25 ja»morfcs.s per wor k 
-ton 97 JM 7 JW 9 JW 0 
Sento 8000 2986 3998 

Decto 4038 

Atorto 4078 

Estste NA Frf s. soles 21317 
Frfsapenire 62467 off 3048 


59491 

1514 

135 

27 


1479 

1,137 


Ooae 

LONDON METALS CLME3 
DoOcws per metric ton 


Previous 


JAPANESE YB6 (CMER) 
UJmBlan yen, s per too van 
Junto -8278 ZW. 4236 
SW to 4380 8345 4347 

I>Kto 8463 8462 8462 

Estste NA Ffl's.ste 2SJ82 
Fits onen irt «SJ60 up 2712 


64 J 47 

800 

713 


NATURAL GAS INNER} 

i otu 
Moyto IJBS 1423 18® 

Junto 1835 1880 

Julto I860 1JTHI 
Auo to 1J7D 1J25 
S»97 1J*3 1.940 

petto 2818 1JB0 
Nor 91 USB 1130 
Decto 1273 1340 

-tan 98 2J15 1275 

Feb 96 1235 2810 

1120 2890 

g.Ste NA Rfl,ste 46434 
FfTsownlrt 175J55 off 260*^ 


1.900 

L93S 

1-950 

1.969 

2800 

2140 

220 

2295 

2220 

1100 


-'TLjr-ti 


wn— wb area 

Spot 1626 ft 7627 ft 162280 I 62 A 80 
Hxwonl 165980 166080 165580 165680 


S£f, 


orvfdends 

Coajpcur Per Ant Rec Pay Company 

IRREGULAR 

b 8357 >28 


♦* BKTokMtfsuADR 


Crass TtoUsere 


Grpo Efcdra GDS 
Malsu EJlnc ADR 
Mesa Royalty Tr 
MefroGas SA ADS 
Mor^n SIEmgQW 
Morpi 51 Gb Oppy 
Permian Basin 
Raya le Invest 


Son Joan BasF^tfy 


Santas Ltd ADR 
TDK Cp ADR 


- .1912 3-31 
b 3M3 3-28 
b 841 3-28 

- 7642 3-31 
0 A3 4-2 

- J 6 Ml 

- J1 3-31 

- 8625 3-31 

- .125 3-37 

- -1529 3-31 
b 4056 4-10 
0 882 3-W 


4-14 

4-10 


4-30 


4-15 

4-15 

4-14 

4- 14 
4*14 

5- 13 


Per Amt Rec Pay 
INITIAL 

Alliance Bcpincn _ .10 3-31 

Signature inns A _ 83 4-1 

Soutton Comfy B „ 875 3-31 

Souttiesf Water n _ 89 3-31 

REGULAR 

AdamsNafl Q .IQ 3-31 


4-18 

4-15 


FSEOeR CATTLE (OMERJ 
S 080 Q tis.- cents per 0 . 
Ms-97 6940 89.12 4982 

Aar 97 68.95 6845 6872 

Moyto 6979 030 6925 

Aug 97 71M 77JV 7192 

Sea to 7X55 7130 7340 

Odto 74.10 7190 7197 


1420 JX 242280 241780 243000 
236580 236680 2 363 8 0 236480 


BflGS FRANC ICMBR) 

12&OT0 tranas, l ear Vane 
Am to 4928 .6885 4917 

5* »7 4JW £96S mi 

Dec 97 3059 3050 J059 

^sdts NA. Frt^-ste 18341 
FlftOtaW 40823 Off 747 


37.704 

2878 

259 


UNLEADED GASOUNEtNMBl) 
« 80 BoDi.cmi*parooi 

*** w 66J0 6 M 5 —A 10 mru r 

M 7 ® 45 6680 64 K J.M 

4580 6580 — i jp T 8 J 30 

07 ? “WO 7*436 

6+75 62.80 -J fj 5^07 

61 J 0 -^035 2J36 


+820 

+0^ 

+ai 7 

♦ore 

+040 
♦ 077 


1,963 

3471 

5796 


FOTaarO 

Nickel 


653 ft 

68380 


684 ft 

68400 


69280 

69280 


69380 

69380 


Decto 


5720 Spot 774580 775580 783580 784580 
Forward 


1,570 FW* 
1160 TNt 


4-18 


£ 9 , sow 2.130 FrT 6 . sales 2 M 
Rfs open kit 22,106 up 195 


786080 786580 794580 795580 


Spot 581580 582580 5880 80 589080 
ftiwrt 


JM 98 I 


Junto 

Julto VdO 
Auoto 6 X 00 
£pto 6140 61 JO 

Wswi 1 0*1 “*«„34874 

i-n-soreraw 100483 up 3115 

GASOfLClPE) 

« 15X1 'tats of 100 »ns ■ 
Sffn- 1 71^ 3MU 

aS .97 ^ JSa-I* AS 82 


^oNJHSTaajnaaJFPE) 

£ 500000 -punt TOO pet 

sS? SIS S? ttneh. T 1 M 17 

h IS H=BH m 


Au «97 Iri 36 i 7675 7780 =^ 


STOCK 

IBS Fnd . 1 S% 421 

PatynterRsreii Am _ 5% 4-1 


Hfflina Inc 
Am-Plitsburg 
Arawest InsurGg 
CNA Income Slits 
■13 Centerpalnt Props 
— Conti Homes HBg 
Date Foods 


5-6 

4-9 


FstSvgsNJ, 

Gulf COqRss oil 
Home BuUrilngBJc 


m 

I 


STOCK SPUT 
SheflCda Ltd 3 tori spat. 


INCREASED 

ABegfant Bncp Q 83 3-31 

Comm BkShn md 0 .105 3-31 
Peoples Bk Corp Q Ji Ml 


4-15 

4-15 

425 


9. 


Dakar 


2 

Tit n 

16 ft 16 ft 
lift lift 
» 5 ft 

is ia 

9 * 9 * 


SPECIAL 

Gulf Cdo Res aOt> c 81 

c payment In arreara. 


Kaye Group 
Marcus Corp 
oSBRnanreat 
PamwoodBncp 
Peoptes Bncp Ind 
Pittstrura Home 
Pulaski Bank 
Southwest GA Fd 
WSfm StwTnrdl 0 
Ztom Bancorp 


845 411 

86 415 

.17 3G1 
J4 3-31 
42 5-9 

85 43 
-10 5-22 

.125 47 
816 3-31 
875 47 

82S Ml 
875 425 
.16 3-31 

87 Ml 
.15 41 

86 411 
JS « 
.10 Ml 
.10 3-27 
44 414 


4-30 

425 

4- 30 
415 
414 
500 
411 

45 

418 

414 

421 
431 

5- 25 

410 

415 

422 
425 

416 
400 
1-31 
428 


HOGS-LCOB (QMER) 
40800 fcs.- eem par e+ 
Apr to 7427 7130 
Junto 62-15 8180 
JUlto 6080 7920 

Aug 77 7670 7545 

Oaw 7080 <980 

Decto 6165 6787 


586580 587080 592 S 80 393080 

MHM Grade) ■■■■■■■I 


Est.ste 11877 Frfs-t 
FrfsopenW 31805 up 


7427 

82.15 

BL 00 

7452 

7057 

6825 


10 


+280 9.90 
+280 12595 

♦ 120 3233 

♦ 182 2262 

♦ 125 1566 

+187 MOO 

11862 


Spat 127280 127380 127080 127980 
ftninart 129580 


1295 ft 130180 130280 
Kph Low Close Chge OpM 


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5 ep 99 

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1*000 


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92.19 

92.14 

92.10 

9286 


9221 

92.18 

92J0 

9289 

9286 


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92.14 — axo 
92.10 —082 
9286 —081 


4992 

7395 


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1 US T. BALS (CMBR) 
si mn*o+- mot too* 


PORK 


Morto 8030 
Movto BUS 
Julto BU7 
Aug to 7493 
Feb 98 71.95 
Mar« 7280 
Estste 2.981 


(CMBU 

7 SJ 0 7 U 0 
7070 7085 

77 JO 78.15 
75.17 7517 -4157 

69 JO 0 JO —185 
69.10 69.10 -Off 
Ffl's.ste L 574 


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5 YR. TREASURY (CBOT) 

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junto 185-05 10457 105-05 +08 220577 

SfiPto 104 -« 3 

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ESLsem HA. 9 WS.S te 2 S 567 

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9681 9596 

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M55 94JD 


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^ :SS!SSo 3 

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♦ 083 2&Q37 
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COCOA CNCSE) 

10 mekrtc tanv 1 perno 
May 97 IMS M 25 

1428 

-22 

Julto 

ics 

MSB 

1460 

— 21 

Septo 

1497 

I 486 

I 486 

—16 

Decto 

1519 

1507 

1510 

—20 

Morn 

15 W 

1530 

1533 

—20 


Slock Tables Exptained 

Sola agu resOTunoadreYi ^t^ and lows relied ftepmflous 52 woete plus me cunont 
w tebii nam e luteiinuiig any. WHeraqspacrsNd»MilBndBnounBnBio2SiiaoEntarnmm 

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ottEnnse noted rates of AMgnd 5 <nannuaid 1 sbui 9 mnares based on the tatBStdedBaflon. 

a - dlvidetHf aba exha W. b - annual rate of dhUetuf plus stack OMdend. e - rreuidattng Estste 73 S 4 RTkJtel UO 
(Hyldefid- cc -PE exceeds 99xkt - cofled, d - new yearly lour, dd - loss In the test 12 nwdtcs. RTsopenW 3 MS 2 off 62911 

de 22 S?^t P ? l,ln HS d,n9 ^ nronlhs. f - crnfiud rate, increased on tost 
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declared offe r spffHip or godt dMdend j - dividend paid this tear, omitted deterred a- no 
Baton Wwi at toted dividend meeting, k - dMdend declared or paid this yea. on 
occumutaliw Issue wtih dMdends in ansots. m - onnuol nite reduced an tost dedautfert. 


22J6B 
21,549 
11505 
6393 
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S 100808 ortn- pb & 3 »ds at N 9 pd 
Jtflto 106-21 106-12 106-21 +06 301,861 

Septo W 6-04 IB -31 106-04 + 0 S 98 M 

Dec 97 105-19 x 

Estste NA. Etrs-ste 57 . 1*9 
FrfsopenW 327 J 99 off 110 


aSwetlfwoR^wnn 


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37500 ft*.- e*m» par b. 

Moyto 16480 158.65 MZJ0 —285 18J6S 
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5*pto 14L25 14285 WB —180 &3B9 

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te* In preratfng 12 morths, eatoHded cash name on BwiMdend or en-dWtibiiliondafe. 

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vri - whai bsu«v w - wffli womints. x - ewMdend or ra-rt^rts. ntfs - «-ifistrtoirttan. 
m- without warrants. v-a-iflvWend end solas in tuJLvH-vi^d.z- solos In full. 


US TREASURY BONDS taOT) 

» peMWOnOO-pft BtondSotlOOPd) 
junto 109-00 m-\l 109-00 + 09 42 MB& 

Septo JOB -16 W 85 106-18 + 09 26 J 90 

Decto 187-28 5 J 80 

Morto UR -18 1549 

ESLlte NA RfS-lte 218514 
FfTsopenW 482 J 13 alt 5882 


§K?7 96» 94» 

SB* 

9651 9S78 

9551 SS 
«3S 

95.11 «SA 
9458 m3 
H64 9LM 

MAI 55? 


MVM 
JW 98 
98 
Dec 9S 
Mar 99 
Jon 99 
Sn to 
Dk 99 
Mar m 


Stock Indexes 

g|S2 ES 


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+<15 4 , 12 * 

zm 


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49 . 9 K 

+081 29501 
+A81 20.994 


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13590 


4142 




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0097 109-27 109-15 l&S + IMS 22810 

Junto 109-12 108-27 109-10 + 0-04 17 L 266 

Septo NT. NT. 10428 +404 


SUBAR-WORLDII (NCSR) 
UUHtob-cnmiPvti. .— m 

Moyto 1194 1183 1082 +0» 

Jutw 1058 1050 lag +089 35893 

Ddf 7 1050 10 J 3 1089 +088 2 & 77 B 

NtarN 1060 I 0 J 4 1059+088 13521 

ER.ste 7376 RTS-SOkS 7365 
PtfsaaenW 104384 off iDtei* 


Estate; 4756<.nn.ste 


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UP <400 


Pm*, open ko: 199876 

IGOVSRNMENT BUND (UFFE) 




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93.18 

9320 

9118 

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9302 

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Pr«. apart M; 240.101 op 2«2 


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sswwar 7356 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 


PAGE 15 


EUROPE 



L ^r- 


«!i 4 : 


I prj Qlf 




PPL’s Shares Jump 
On Its Development 
Of a Hun ian Protein 


tn, Our StdTfnwi Capas hri 

-■ LONDON — Shares of PPL 
Therapeutics PLC rose about 5 per- 
xent Monday after the biotechno- 
■iogy company said it had cultivated 
-3 calcium-based human protein in- 
side an animal, opening the way for 
■cheaper drugs. 

« PPL, which last month an- 
nounced the world’s first cloned 
mammal i-^asheep named Dolly — 
-said it had created calcitonin in the 
■milk of genetically altered rabbits. 

( * Calcitonin regulates the level of 
Calcium in the human body. A syn- 
thetic version of it is used to treat 
osteoporosis, a disease dial causes 
■bones to become porous and brittle. 

* The stock was quoted in late trad- 
•ing at 447 J pence ($7. 1 8), up 20. 

• But PPL’s managing director. 
'Ron James, said Monday that it 
'would be five years before the com- 
!pany had a product on the market, 
-and he said investors could expect to 


New C&W Chief 
Sees the Merger 
As a ‘First Step’ 


Reuters 

LONDON — Cable & Wire- 
less PLC, Britain's new cable- 
telephone and television giant, 
said Monday it may seek fur- 
ther acquisitions. 

“We've taken the first step in 
the consolidation of the in- 
dustry, and we ’ll look at other 
acquisitions as and when they 
will arrive," the company's 
new chief executive, Graham 
Wallace, said. Formal offers 
from Cable & Wireless to share- 
■ holders of its merger partners 
were launched Monday. . 

The merger, announced in Oc- 
tober, brings together Cable & 
Wireless’s Mercury subsidiary 
and the British cable-television 
units of Nynex Corp., Nynex 
CableComras, Bell Canada's 
Bell Cable Media and Videotron. 


see more losses in the near future. 

Bui the company said it also held 
patents on its cloning techniques 
and on potential new products that it 
hoped would keep investors inter- 
ested. 

Announcing its first annual re- 
sults since the company was listed 
on the stock exchange last year. PPL 
reported a 1996 pretax loss of £6.2 
million. It said sales totaled £2.5 
million. 

The calcitonin development, 
meanwhile, offers "the potential for 
a greater number of pharmaceutical 
products to be manufactured" using 
its technology, PPL said. 

“It's becoming clearer and clear- 
er that PPL is a very focused com- 
pany." Tom Geimer. analyst at 
Heruy Cooke, Lumsden & Co., said. 
“This is quite a significant devel- 
opment for them." 

PPL specializes in technology to 
grow hum an. proteins inside genet- 
ically modified animals. Called 
transgenic technology, the method 
involves introducing copies of DNA 
for a specific human protein into 
animal cells. 

The DNA “grows'’ into the pro- 
tein inside the animal, whjch 
secretes it in its milk, allowing for 
easy collection. 

The technology “assures rapid 
supplies of products ai lower costs" 
than producing them in convention- 
al ways, the company said. 

The development comes amid a 
surge in biotechnology in Britain, 
where there are two dozen publicly 
traded companies in the field. 

A trend for more and more sci- 
entists to become entrepreneurs, 
stronger investor interest and in- 
creased government support are all 
helping the British biotechnology in- 
dustry, which is. second only to 
America's in size. 

PPL said the world market for 
calcitonin was worth about $800 
million annually. Administrated by 
injection or through. nasal spray, cal- 
citonin is one of two major treat- 
ments for osteoporosis; the other is 
hormone replacement therapy. 

Analysts- said PPL might have 
found a cheaper means of producing 
the drug, which is made by Novartis 
AG of Switzerland and other drug 
companies. [Bloomberg, Reuters) 


American to Get Havas Post 

French Ad Agency Seeks to Strengthen U.S. Business 


By Daniel Tilles 

Special to the Herald Tribune 


PARIS — Havas Advertising is poised to take the 
unprecedented step, for a French advertising and 
communications company, of naming an American 
to head its largest ad network. 

Robert Schmetterer is likely to assume the title of 
chairman and chief executive officer of Euro RSCG 
Worldwide, the world’s seventh-] argest agency, ef- 
fective next Tuesday, company executives said. In 
addition, the headquarters for Euro RSCG is expected 
to move from Paris to New York, where Mr. Schmet- 
terer is based. 

Mr. Schmetterer would succeed Alain Cayzac as 
chief executive of the group. Mr. Cayzac, one of the 
founders of Euro RSCG, is expected to move into the 
Havas Advertising holding company, wbich will 
keep its headquarters in Paris. Euro RSCG was 
created in 1991 in a merger between two French 
advertising agencies, Eurocom and RSCG. 

Havas Advertising had worldwide client billings in 
1 996 of 29 billion French francs f$5 billion), its major 
clients include Philips Electronics NV. Intel Corp., 
Procter & Gamble and PSA Peugeot Citroen SA. The 
holding company's largest shareholder is Havas SA, 
which controls about 37 percent of the group's equity. 


The choice by Havas Advertising’s chairman, 
Alain de Pouzilhac, of a headquarters switch, as well 
as of an American to lead what is considered by 
industry professionals to be a French advertising 
network, would break ground in the business. A 
second major Paris-based agency. Groupe Publicis 
SA, has neither Americans nor Britons in such po- 
sitions of authority. 

The decision has been driven by what Havas 
Advertising describes as a need to increase the per- 
centage of its billings originating from U.S. clients, 
the linchpin of Mr. de Pouzilhac 's stated strategy of 
becoming one of the five leading advertising compa- 
nies by 2000. Currently, the United States accounts 
for about 50 percent of worldwide advertising 
billings, but it represents just 25 percent of Havas 
Advertising's total business. 

Havas Advertising is clearly hoping that Mr. 
Schmetterer, a veteran industry executive and cur- 
rently a partner in MVBMS Euro RSCG, the group's 
New York agency that manages clients including 
MCI Communications Inc. and Volvo AB, will open 
the door ro American marketers who may have been 
hesitanr to do business with a largely French-man- 
aged company. Shares of Havas Advertising dosed 
unchanged Monday on the Paris stock exchange at 
417 francs. 


Prince and Lonrho Near Hotel Deal 


Ctnpdfd ly Ibr Stiff Fran Disparchn 

RIYADH — Prince Walid ibn 
Talal expects to reach an agreement 
to buy six of Lonrho PLC's eight 
Princess hotels for $600 million 
within two months, a spokesman for 
the Saudi investor said Monday. 

The prince, a nephew of King 
Fahd of Saudi Arabia, will put the six 
five-star hotels in the United States 
and Mexico under the management 
of his Fairmont Hotel Management 
LtcL based in San Francisco. 

Any agreement would exclude 
two Lonrho hotels, in Barbados and 


the Bahamas that have casinos, be- 
cause the prince, a Muslim, regards 
gambling as against the tenets of 
Islam, a spokesman said. 

In London, a Lonrho spokesman 
said, “We're not m aking any of- 
ficial announcement until contracts 
are signed. " He added that he did not 
expect an announcement this week. 

The prince also has completed the 
purchase of a 5 percent stake in 
Trans World Airlines, his first in- 
vestment in the airline industry, an 
aide said. 

Prince Walid has been designated 


Hochtief Seeks Partial Control of Rival 


Bloomberg News 

FRANKFURT — Hochtief AG and Deutsche Bank 
AG confirmed Monday that they would pool their stakes 
in Philipp Holzmarm AG, giving them control of just 
under 50 percent of Germany's largest construction com- 
pany. Hochtief and Deutsche Bank said they would hold 
a press conference on Tuesday to discuss their plans. 

A Deutsche Bank spokesman, Walter Schumacher, 


said the bank and Hochtief were negotiating on pooling 
the shares. Such an agreement would give Hochtief, 
Germany's second largest construction company, par- 
tial management control over Holzmann. 

Hochtief, which owns 24.9 percent of Holzmann and 
has an option for a further 10 percent held by Com- 
merzbank AG, has made several attempts to gain a larger 
stake in the rival construction company since 1994. 


Investor’s Europe 



Exchange * 
Amsterdam 


dniseeis; *S 

60 . 12 D; 

2fi8*m ' 2,083X1. -OJ 27 

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Spi 'v V' V v 


Source: Teiekurs 


lntenaiJan*l Herald Tnbunc 

Very briefly: 


the exclusive bidder for the hotel 
chain. Lonrho is selling its hotel 
interests and some African units, 
ranging from car distributors to 
cattle ranches, to focus on mining. 

For Prince Walid, the Princess 
chain would add to a stable of prop- 
erties including the Hotel George V 
in Paris. 25 percent of the Four Sea- 
sons-Regent International chain, 50 
percent of Fairmont Hotel Manage- 
ment Ltd. and, with CDL Hotels 
International Ltd., a controlling 
stake in New York's Plaza Hotel. 

( Bloomberg . AFP) 


• Volvo AB of Sweden will create a company to make special 
vehicles such as police cars, ambulances, limousines and 
armor-plated cars. 

• Roche Holding AG, a Swiss drugmaker, said 1996 net 
profit rose 16 percent, to a record 3.9 billion Swiss francs 
($2.68 billion), as drug sales and financial income surged. The 
company also said it would pay a dividend of 75 francs a share, 
up from 64 francs in 1995. 

• PSA Peugeot Citroen SA’s chairman, Jacques Calvet, said 
he hoped to conclude an agreement next month to manufacture 
cars in Brazil. 

• Tryg-Baltica Forsikring AS, Denmark's largest insurer, 
said its 1996 net profit was Utile changed at 1.07 billion kroner 
($165.6 million), although income from investments rose. 

• Gehe AG, a German drugmaker. said 1996 net profit more 
than doubled, to 440 million Deutsche marks ($260. 1 million), 
lifted by the sale of five drug-production units. 

• Reed Elsevier PLC, a British-Dutch publisher, offered to 
buy MDL Information Systems Inc~, a U.S. provider of 
information-management software and databases to the phar- 
maceutical, agrochemical and chemical industries, for $320 
million. 

• Waterford Wedgwood PLC’s 1996 pretax profit jumped 
24 percent, to 34.9 million Irish punts ($54.7 million), as sales 
rose to record levels after a reorganization. 

• Royal Dutch/Shell Group shut down oil production at six 
facilities in Nigeria after protesters seized workers in a dispute 
with the local government; the company said exports had not 
yet been affected. 

• Inchcape PLC, a British auto distributor and marketing 
company, said 1996 pretax profit rose 12 percent, to £165.1 
miUion ($264.8 million), as a ‘ ‘strong recovery' ' in its motor- 
distribution division offset a drop in marketing profit 

Bloomberg, AFP. Reuters 


WORLD STOCK MARKETS v ^ 


Monday, March 24 

PriGss In local currencies^ . _■ . 

> tl . Telekuts 

Htfi Law Ckse Prev. 

Amsterdam aexmi*7im2 

PRNMOB7ZU0 




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* The stock mar ket in Bom- 
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hoUday. 


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465 464 

1188 .JJift 

,54 154 157-50 

45,45 45.45 4565 
.]£» 13W0 12^5 
495 «6 498 


TIM 

180 


B6 

465 

11B3 

154 


;• w*b -av ^aate ym. 
Deutsche Bdmr'nutf 8&£5 B0S5 8tfM 
DeatTaMuMi 3B30- -37^5 - 3 8 .15 3S.1 0 


Saincncar 
'5asd ‘ "• 
SBC ■ 
Tiger Oats 


12430 12670 
129 JO 131 JO 

120.10 13338 

2A27D 263 

0040 81 JO 
3440 34.90 
10390 lOdJO 
347 3S4J0 
181 JO 182J0 
2880 2890 
6890 7140 
5850 57.70 
5990 61 JO 
15640 161 

321J0 322J0 

89.90 9820 
153 159jSB 

69 JO 71.10 
55J0. 5640 
3940 39.70 
69 JO 70-50 
44-a 

273J0 27850 

228.10 233 
8870 83 

94.90 9470 

14850 13840 
15770 157 

5850 5850 

162.10 16140 

10770 100 

327.40 332.10 
35470 3SJ0 

82-50 84 

3850 39.90 
22X10 227 



5690 

56 -.5678 

5X15 

Fresenbra 

372 

370 369 

3/0 

FresenlusMed 

166 

164 16410 

166 

Fried. Krnpp 

345 

327 338.50 

31/ 

Gehs 

117 

114 117 

11/ 

HektotegZmi 

144X0 14X50 14X50 

144 

Henkel pfd 

87.90 

86.70 8770 

B6J5 

HEW 

500 

495- 495 

498 


High 

Law Close 

Prev. 


Htgb 

Law 

-J787X 

... 137 .. .138. 

...138 . 

. vendameUids 

.- XI 3 

.. £03 

5575 

55 55 

5X25 

Vodafone 

169 

X62 

*3030 

' 50' 5875 

SOTS 

WHIM 

7J9 

797 

- 1 186. 18575 18X75 

18X75 

WDSomsHdgs 

376 

X32 

. 7475. 

76 7X75 

76 

Mtofcetoy 

£04 

495 




WPP Group 

X55 

291 


High Law Close Prev. 


HS Paris 


7X50 7170- 7140 7020 
6645 6540 6530 65.98 
579 573 577 580 

1143 1130 1136 1142 

2X95 2X75 2183 2X79 
456 453- 45550 m 

- 636 


HocMef 
Hoechst 
Xaraftidt 
Unde 
Lufthansa 
MAN 

Mannesinann 64853 634 . 635 — 

MefalgeseAsdiaft 35.95 3570 ‘ 3XS0 
MWn 164 lflJD 164 16170 

Munch RueckR 4170 4140 1W 4215 

45440 490 451 46050 

13!® 1244 1250 1230 


RWE 

SAP phi 

Sdwftno 

SGLQuhen 

Siemens 

spritzer (Axel} 

Sueducker 

JET 

VEW 

Vtog 

Vofeowagen 


7420 7X30 7375 7X00 
27850 267 27840 263 

17X90 167 JO 17X90 16640 
232 22740 22740 227 

8678 8570 8545 8505 
1250 1245 1250 1240 

829 828 -829 825 

41850 407,50 41740 391 

97 JO 9&S® 97.15 97.60 
500 499 499 499 

765 752 766 753 

891 M2 ' 08« 892 


Kuala Lumpur coaumJtKiiujQ 

r Previous: 121194 

AMMBHdgs 
Genflno 
Mai Banking 
MaltnflSMpF 
Peirona&Gas 
Proton 
PubHcBk 
Renting 
Resorts World 
Rothmans PM 
5tme Darby 
Telekom Mo) 

Tlmaga 
Utd Engtne«3 
YTL 


Zeneca 


us 

4J8 


1770 1776 1740 I7J9 


CAC-49: 25797B 
Previous: 2587.13 


22-50 

2X20 

2290 

2X50 

1740 

17.10 

17 JO 

17.10 

2890 

2875 

2890 

2X50 

X10 

6 

X05 

675 

9.10 

9.05 

9.10 

975 

1X80 

1X50 

1590 

1X50 

5 

498 

5 

5.06 

472 

*70 

430 

418 

1170 

11 

11.10 

11.10 

2470 

2X90 

7i -in 

2440 

9A5 

9 

9 

975 

19 JO 

19.10 

1970 

19.10 

1X10 

1190 

12 

12 

21 JO 

21 JO 

2190 

21 JO 

1X10 

1X80 

1X90 

1X10 


London 


FT-6E1Mfc4ZT4J0 

prevhwsjzsua 



SET Mac 71US 
nerfun; 782.10 

220 2» 230 

248 248 246 

3475 36 3675 

• 324 342 324 

668 668 668 

147 148 146 

4275 44J0 4175 
4175 4675 4250 
168 174 167 

165 169 167 



Hong Kong 


Bk East Asia 
Cobray Pacific 

Cheung Ko>9 

OCInftreftuct 
China Light 
rate Pacific 
DoaHena Bk 
HisIPac&lc 
Hang Lang Dev 


i hw 

HanderaonLd 
HK China Gas 
HKEiecMc 

HK Telecomm 
Hopewell Hdgs 
HSBC Hdgs 
Hutcnteoa Wh 
Hyson Dev 
Johnson El Hdg 

Orteidal Press 
Psari Oriental 
5HK Props 
Shun Tax Hdgs 
SUwLmdpk 
SttiCWrw Post 
SwkePacA 
Wharf Hdgs 
Wheetodc 


860 
2655 
1175 
7175 
21-85 
3480 
39 
3X90 
1070 
1445 
8X25 
770 
67 
1475 
2750 
1475 
. 4JB 
179 
5675 
2X50 
1975 
17J5 
43 
770 
670 
8X75 
570 
850 
670 
6150 
3150 
», 


HosgSeag: 12749.14 
Previous 1268970 
” 840 855 840 

2X05 2430 26.10 
11JO 1170 1175 
6850 ' 71 6850 
2050 -21.85 2090 
3410- 3450- 3480 
3820 3860 3750 
■9570 XS-.V 3570 
890 1070 970 

1470 1445 1415 
8150 -'83 0175 
7 JO 755 755 

65 67 64 

1455 1470 1465 
2770 27.45 27.® 
1185 1195 1440 
415 470 410 

176 17850 176 

55 5650 5575 
2275-3X40 2270 
19551.1975 1970 
■1655 > - .17 1895 
4T50'. -42.90 4170 
X15 118 115 

SJ5 6 6.30 

8275 8575 82 

820 5J0 X15 

875 - 850 825 

6J0 8BS 485 
5875 6175 5875 
"2970- 3L20. 29.15 

•jraKflZBfli--. 1 17 


773 7JJ8 
445 479 

840 677 

832 672 

1.05 1.07 

5-34 574 

X10 498 

1077 9.90 
807 778 

574 486 

826 X13 

413 193 

955 976 

677 4*0 

141 X30 

1X25 13.® 
838 829 

153 157 

X43 STB 
7.10 7J)1 

833 818 

Brfl Start 154 151 

ErttTHecan 458 448 

BTR 253 273 

Bramah CasM 1806 978 

150 IJ3 
490 481 

575 573 

5J# 497 

65 5 632 
876 855 

354 350 

X15 X10 



484 488 

575 574 


Compass Gp 
Cnumjlds 


Jakarta 

Astra Inti 
Bkhdllndon 
Bk Negara 

GodongGrem 

Indocxmera 

Indofood 

Indosot 

Sarapoemo HM 
Semen G^i 
TeMkomunBiasI 


CUBMflle Mae 64952 

5825 SS2-f^ 

1775 1750- 1 775 I7» 

1350 1325:' 1325 135? 

10100 9900; 10100 1®J75 

3300 3M8. SBC 3425 

5350 5300 5300 5300 

&600 6525 6600 6525 

10950 10400 10475 110® 
6225 5800 6123 6100 

3625 . 3530." 35» 3625 


Johannesburg 

‘-aSmS 

otS 27050-27175 

Tl 

ss-jss-k 

6*7 1' msr 3850 
162 168 160W 

4X15 

27 jo 2775 27 JO 
MJ0 T9J0 '2CX10 

% ^ 

326 ' 324 - 32o 

12X25. 124 12X25 
1540 1575 1X^5 

1970 WM 197S 
85 8371- 8375 
4X40 4475 
59 50M 

71J0 71 71J0 


AjigloAmlnd 
AVMIN 
Bartow 
UXSraOl 
De Beers 

DrteftJrtrin 

FstNaBBk 

Geofljr 

GFSA 

Imperial Hdgs 
jngwe Cnol 

SmrtMin* 

Liberty 

tKSkS, 

Minorca 

Nanp* 

Mdar 

SSStnjIlGP 

FBdttflrad 
Rust Platinum 


27.15 

305 

7^ 

327 
17475 
17.65 
49 JO 
2860 
159 
4350 
2750 
20 
116 
5825 
20 
X46 
5675 
32X50 
12475 
1X15 
10X2S 
1970 
8X75 
4X50 
5970 
72 


Dbrons 

Bedracampoaeats 420 
EMI Group 1175 
Energy Group 475 465 

EnSemrfseol 847 833 

Fom&omal 179 1-55 

GentAeddent 775 771 

GEC 3J» i» 

GKN 9.97 949 

GtaraW d enrae 1075 ULy 
Granada Gp 9 JO 9.17 

Grand Mel 493 477 

GRE 2£l 268 

GsssawHsGp 817 5 M 

Gukmess X10 437 

GUS 854 840 

Hays 5J4 5J1 

H5BC HMgs 1452 1414 
ta 7-03 6-90 

Iraqi Tobacco 473 415 

KkMflsher 898 886 

UnffiSce 27S Z19 

Land Sec 767 767 

Lasmo 150 261 

UgriGrartGrp 192 XB3 

UoydsTSB Gp 468 X96 

LDCnsVarUy 1.99 175 

MnriaSpeneer . 467 453 

MEPC 478 464 

AMrevyAsnl 1295 1265 
National Grid 2.13 . 2J3B 
Natt Power 482. 05 
NalWast 7J3 832 

Next 809 X95 

Orange 3-06 281 

PM 833 820 

Pearson 7X2 775 

PKlngtMi 1J2 ITS 

PavrerGen X93 583 

P i e ml erFatnetl 494 47B 

PrudeniW £54 £34 

RdtrackPP 455 443 

Rank Group 4J0 416 

ReddttCBhn 8J8 810 

Redtaral 362 363 

Reed bat 1186 HUH 

421 408 

817 802 

X37 132 

960 968 

138 132 

£30 £12 

. _ tea 960 9J2 

Royal £ Sun Ai 447 426 

Safeway 164 XS7 

Satnsbray X38 374 

Sdhmden 1825 1810 

Seal Newcastle 883 863 

Seal Power 363 333 

Saairiear 355 888 

Severn Treat 898 878 

SheVTnraspR 1IL84 1065 

SWre 1043 1035 

ScSwS*" wI 872 

SmBnslnd X1S £06 

Stagecoach 855 838 

Siond Charter. 056 838 

Tate £ Lyle - 436 425 

Teeco 361 13* 

Ttwmes Water X62 tsi 

31 Group £08 £04 

TIGmop £68 X55 

Tomkins 2J9 170 

Unilever 78M 1X87 

UNAfsanma 5 486 

Utd News 7J6 7JS 

utnunnes 675 &os 


Hdgs 


RMC Group 


Son 


M 


U 




367 363 

375 128 

1810 1818 
865 876 

135 342 

2.90 1M 


Madrid 


Baba Index: 4<6» 


Pwrtsas. 46799 

Acerinox 

19730 

19300 

19520 

19500 

ACESA 

1610 

15BS 

1600 

1590 

Aguas Baraton 

5220 

ST 50 

5200 

5190 

Arontafio 

BBV 

6090 

0490 

6030 

8360 

6060 

8420 

6050 

8460 

BonesJo 

1120 

1105 

1115 

noo 


19140 

19000 

19010 

19060 


37*5 

3715 

3/25 

3760 

Bcd Exterior 

2770 

2770 

2770 

2770 

Bco Popular 

25350 

25150 

25300 

24940 

Bco5aritonder 

9780 

9560 

9570 

9720 

CEPSA 

4200 

4125 

4125 

4155 


2520 

2495 

2520 

25* 

Cgr^Map&e 

6940 

9140 

6850 

9050 

6850 

9080 

6870 

9110 

FECSA 

1210 

1175 

1180 

1185 


31600 

30550 

30990 

31110 


1515 

1505 

1510 

1505 


2660 

3600 

2600 

2635 


5840 

5780 

5800 

5800 

SevBkmaElec 

1305 

1285 

1295 

1310 


6720 

6580 

6600 

6650 

Tetetonlca 

3385 

3355 

3380 

3375 


1155 

1U0 

1150 

1150 

VdtencCemenl 

1750 

1705 

1/50 

1715 

Manila 


P5E fadCto 322276 


prevtoas 320175 

Ayala a 

28 

2790 

7790 

28 

Ayota Lml 
BkPfmpirt 

3090 

2990 

3090 

3090 

184 

IW 

IfO 

184 


1X75 

» 

1X50 

12 

MonfloEtecA 

122 

120 

171 

121 


675 

670 

67S 

675 


1075 

1090 

14X75 

1X75 

POBntk 

395 

390 

3* 

395 

pur Lung Dbt 

1595 

1565 

1595 

1560 

SonMlgudB 

92 

91 

91X0 

91 

SM Prime Hdg 

7JD 

7*40 

770 

770 

Mexico 


Balsa tadac379Q.il 


pmME. 


Ado A 

45J0 

4470 

4480 

4X7D 


1X20 

17.96 

1X08 

1X40 

Cemex CPO 

2940 

29.10 

29.15 

29*45 


1172 

11.10 

li.ia 

1122 


4070 

3970 

3980 

4040 

GpoQaso A) 

4675 

170 


4670 

178 

18 


2775 

2/7 0 

2/70 

2770 

lOinb Oark Mex 

16X90 16290 16X50 

16X80 

TetostsaCPO 

10090 

loano loaoo 

10070 

TefMexL 

1572 

1X40 

1X62 

1570 

Milan 

MIBTMHnoflCK 1164770 


PrtVfaOR 1179SJ0 


11660 

11315 

11315 

11550 

(fqifniiiffl Hal 

3235 

3160 

3220 

3240 


4135 

4025 

4055 

4120 


1158 

mi 

1118 

1160 


21100 

20390 

21100 

20850 


2335 

2315 

2325 



8935 

0655 

8670 

8815 


8490 

8300 

8305 

B600 


53*0 

5140 

5215 

5215 


29650 

78650 

29200 

29100 

IMI 

14100 

13820 

1396b 

14265 

1NA 

2230 

21/S 

2215 

2195 


5430 

53* 

5330 

5405 

WSdkKSl' 

6850 

6545 

65 !0 

6930 


10395 

10100 

10135 

10390 

MnnM'mr 

1177 

1144 

1147 

1155 

ODreflt 

625 

602 

609 

619 

PbwksW 

2350 

7TJ0 

2348 

2185 

PfreH 

3645 

3580 

3635 

3650 

RAS 

14940 

14450 

144/0 

14725 


14510 

14100 

1429D 

14300 


11595 

11180 

11325 

1140 


7350 

7180 

ms 

7320 


4170 

*095 

4110 

4200 

TIM 

4685 

4605 

462S 

4675 

Montreal 

MMiMs fades: 2M1J7 
Plenum. 2171 J6 


4414 

44 

44 

4270 

Cdn Tire A 

2X45 

2415 

2X45 

24J5 

Cdn uva 

31*40 

31 U 

31*40 

31 JO 

CTFW1SK 

32 

31* 

32 

32 

Qn Maim 

16.90 

16*4 

I6M 

1685 

ItJ. * i '• liTvTT^H 

22U 

2214 

2216 

2X05 

IfIKKO 

-1A.90 

3575 

3620 

1690 

1X60 

s. 

25*40 

17 

1635 

2X40 

17 

16 

25*40 

17 

1635 



27.95 

78U 

2875 

2685 

2655 

7685 

2660 


2480 

2475 

2470 

24W 

BPIB B 

875 

8*45 

8*45 

£35 

59 

5795 

5X90 

57.15 


Accra 

AGF 

AtrUnutde 

Atarira Alslh 

Aro-UAP 

Bancolre 

BIC 

BNP 

Canal Plus 

Candour 

tjuhw 

CCF 

CeteJem 

Chrisflon Dior 

CLF-Dedo Froa 

CietRAgrimle 

Danans 

EIMqunalae 

EridantoBS 

Eoradteney 

Eurotunnel 

Gen. Eon 


hneW 

Latage 

Legrand 

UOreal 

LVMH 

Lvan.Etnn 

MfcheBnB 

Portias A 

Pernod RJcard 

Peugeot Q 

Plnauff-Piint 

Promadei 

Renault 

Rexel 

Rh-PairiencA 
Sanofi 
Schneider 
SEB 


‘806 

196 

802 

000 

20650 

»l 

20X40 

202 

872 

HM 

866 

DM 

682 

669 

6/2 

669 

367 JO 36X30 363*40 

364.70 

745 

727 

730 

727 

897 

871 

877 

898 

24660 

740 

241.10 242J0 

1145 

1120 

1125 

1125 

3470 

3391 

3390 

3409 

262 25620 259.40 

260 

26X90 25670 25790 25970 

685 

673 

673 

680 

B26 

HU6 

807 

UU5 

579 

561 

570 

564 

128X50 

1251128890125X10 

884 

871 

877 

072 

558 

542 

548 

553 

903 

876 

876 

884 

1X25 

10 

1X10 

1X10 

690 

675 

6» 

690 

750 

739 

740 

W 

422 41610 

417 

417 

890 

863 

872 

893 

386 

371 

37990 

380 

1020 

986 

1000 

IU0H 

1964 

IVII 

1914 

1W2 

1335 

1309 

1315 

1315 

579 

56/ 

574 

561 


SGS Thomson 39860 36810 38860 398 

653 639 642 649 

2796 2814 Ml 

827 B32 B31 

27-C50 277 JO 20040 

585 589 586 

181 19060 187.90 

47460 459 46260 473 

90 88J0 8965 8960 
369.90 360 36410 36320 


Ste Generate 
Sodexta 2B35 

StGofcoJn 839 

Suez 291 

Syfflhetabo 598 

TtwmsunCSF 19130 

Total B 
IMnar 
Valeo 


Sao Paulo 


ras^PM 


895 

701.00 

46J10 

5461 

1570 


Ugtit Services 

^SoS 11 

TiVebnn Pfd 


Tetal 


Un 
CVRD Pfd 


56X01 

43800 

33760 

21800 

15000 

3800 

970 

11170 

15400 

15X00 

20000 

4080 

1730 

2X20 


870 
69X00 
4480 
5410 
1570 
45X00 
56X00 
43X00 
3324)0 
21X00 
14160 
37790 
9.00 
111J0 
15X50 
15160 
77X00 
39 JO 
170 
2470 


926579 
938165 

870 895 

7®! -00 TOftCB 

A on 4540 

5410 5465 
1X50 15 M 
45BJBB 4SB.CFB 
56X01 56X00 
4374)0 437.01 
33260 33800 
21560 221.00 
14800 1474)0 
3760 38490 
94)0 970 

11X00 11100 
15X90 15440 
15200 15X00 
27760 2804)0 
3960 4&88 
1730 1710 
3X00 2570 


Seoul 


CanpasilelndB:fl7J6 
Previous: 62763 


Heavy 

K 

Kona Mob Tel 
Satraqgjstoy 


9500C 85700 
3700 3350 
17000 15SS0 
15900 15300 
25500 24700 
47B0 4110 

475000 450000 
26700 2000 
43600 
38700 3fm 
57800 55200 
9900 9350 


87000 94000 
3600 3520 

16400 16500 
15400 15SOO 
25500 24900 
4700 4110 

450000 478000 
25900 25500 
44600 4*300 
37500 38200 
56700 55800 
9750 9300 


Singapore 


StiirttE Tiaras.- 209460 
PievteUR 206848 


Oslo 


MX terise 58269 gng 
PrettauBSBXM S°1 




690 

685 

695 

£90 

£80 

990 

990 

990 

1140 

1X60 

1X10 

1X70 

1X50 

1490 

1X20 

1470 

180 

X77 

180 

178 

1790 

1770 

1790 

1730 

X15 

490 

5 

490 

11JD 

1190 

1190 

1190 

291 

245 

2*48 

2*43 

£85 

5J0 

5J5 

£80 

144 

3JB 

3*43 

336 

940 

995 

935 

970 

*M 

4 

4 

196 

442 

616 

438 

470 

494 

490 

494 

AM 

17*40 

1770 

1730 

17 

1X20 

990 

TO 

9.75 

615 

595 

695 

610 

790 

730 

790 

775 

1190 

1190 

1190 

1140 

795 

745 

790 

73S 

2690 

26 

2640 

26 

144 

X38 

3*42 

3*42 

396 

3 

102 

392 

346 

342 

344 

3*42 

1.10 

1.17 

1.17 

1.16 

15*80 

1570 

1X20 

1590 

428 

604 

428 

494 


Stockholm 

AGAB 
ABBA 
AssIDeman 200 
Astra A 34860 

Atlas CopCD A 

Autefiv 


SX 16 lodes 285172 

pmioaciauue 

11060 106 110 106 

850 841 841 83B 

198 19960 199 

334 347 34760 

181 17960 1M 18850 

330 319 329 318 


Electrolux B 

Ericsson B 

HennesB 

Incenffve A 

Investor 0 

MoOoB 

NordboiAim 

PhantVUp)ohn 

SandvkB 

ScvriaB 

SCAB 

S^BatkenA 
Skante Fora 
SkanskaB 
SKFB 

SpartwnxenA 
SfadHtypoM A 
Store A 
Sv Hon rites A 
Volvo B 


High 

LOW 

Close 

Prey. 

46X50 

454 

456 

45790 

258 

254 

25450 

254 

1010 

994 

1000 

1001 

508 

505 

508 

505 

344 

341 

342 

34X50 

230 

22590 

22690 

224 

256 

251 

252 

255 

28890 

28X50 

286 

78450 

19190 

1W 

188 

191 

18450 

18X50 

184 

IH3 

16190 

15790 

16190 

15850 

85 

8350 

8390 

85 

23X50 

22650 

22890 

227 

333 

330 

330 

33190 

191 

186 

187 

19090 

14190 

14090 

14190 

141 

190 

190 

190 

190 

10190 

9990 

100 

100 

230 

22450 

225 

278 

19190 

18990 

191 

190 


34260 329 33X90 333 

394 36560 38870 39160 
313 30670 308 30840 

650 636 639 640 

2230 2175 2185 2173 

1874 1B57 1862 1866 

14460 139 143 141-70 

1800 1735 1756 1700 

187 18X40 18X90 18460 
S39 521 523 529 

2994® 294 29460 29470 

1034 992 1009 1010 


Sydney 


AD onanartes: 240X10 
Previous: ZM640 

Amcor 

878 

870 

875 

£19 

ANZBUng 

830 

£10 

£28 

£10 

BHP 

1772 

1795 

1/90 

J/.I6 


397 

399 

395 

X63 


21.10 

2X80 

yuw 

Mjy 

CBA 

1X82 

1295 

I2JB 

1X46 

CC AmalU 

1195 

1195 

IU5 

1192 

Cotes Myer 

£86 

591 

£85 

5*80 


660 

6« 

660 

la a 

CRA 

18*14 

1872 

1874 

nut 

C5R 

474 

497 

46/ 

6/5 

Fasten Brow 

292 

294 

291 

295 

Goodman FM 

193 

191 

193 

193 

tf Australia 

1190 

1190 

1196 

1196 


2X20 

22 

2291 

2X05 

mim Hdgs 

Nat Aust Bank 

1.74 

T 70 

173 

199 

1601 

1592 

IXW 

1591 

fta? p/mm Hdg 

1.93 

197 

1.93 

198 

News Corp 

616 

595 

616 

£03 

Rodflc Duntop 

130 

X24 

3J0 

376 

Ptoneef inti 

417 

412 

4IJ 

418 

Pub Broadcast 

675 

AM 

675 

6-0 

SI George Bank 

790 

796 

/90 

/* 43 

WMC 

870 

£15 

£19 

£15 

WeahncBUng 

WoodsktePaf 

790 

9.17 

775 

993 

7*48 

9.17 

/ 78 
994 

Watoworths 

£40 

X35 

337 

336 

Taipei 

Stack Motto fadeB 794698 
PrrefaOK 823X07 

Canny Ufa ins 

181 

174 

174 

17B 

Chang HvraBk 
ChfaoTungBk 

188 

80 

176 

76 

177 

76 

186 

79 

QtlrraDr«tomt 

11B 

11X50 

112 

117 

i n Mil 

2790 

2650 

2650 

H 


189 

178 

1/9 

IIW 

FOmxna Ptasflc 

7490 

71 

/190 

74 

Him Non Bk 

14* 

135 

136 

4X50 


S3 

7790 

7V 

8X50 

stoJiYoPtasncs 

6790 

6490 

6590 

6/90 

Shin Kang Life 
Taiwan Semi 

110 

104 

0450 

108 

6490 

6LS0 

63 

64 

Tatung 

l/M Micro Elec 

5650 

5450 

5450 

56 

5090 

4790 

4870 

*9 

Utd World Oita 

7X50 

70 

7090 

73 


Tokyo 


NUei 225: 1804182 
Pn tteo K 1863X16 


I Nippon Air 
Amoy 
Audit Bnrrti 
Aartd Cheat 
Asahl Gloss 
Bk Tokyo MRtU 
Bk Yokohama 
Bridge stone 
Canon 
Chubu Elec 
ChcwokuElec 
Dal NIK) Print 
DaW 

DaHctil Kang 

DahraBratk 

Dtera House 

DahraSec 

DDI 

Denso 

East Japan Ry 

□sot 

Fanuc 

FuflBank 

Fu| Photo 

Fupen 

HacnRunlBk 

Hltodd 

Honda Malar 

IBJ 

IHI 

ttadro 

tto-Ybkado 

JAL 

Japan Tobacco 

JlffiCO 

Kapaa 

KaraalElec 

Kao 

KavMsakJHvy 
Kiwa Steel 
OiUMppRy 
Wrin Brewery 
Kob«5M 

Komatsu 

Kubota 

Kyocera 

K,yg nElec 

More bent 
Motto 

MabuCUtat 
Matea Elec Ind 
Matsu Elec Wk 
MBsubteH 
MtewtatetdCh 
Mtartrtshf El 
MBsubUdEsl 
MUsabUil Hvy 

Mitsubishi Mat 
MlbifbMdTr 

Mflsui 


■El 

■n 

980 

1000 


K!1 

000 

819 

3310 

3250 

32S0 

3280 


799 

799 

826 

El 

617 

624 

634 

1090 

1060 

1080 

1090 

2140 

2060 

2080 

2100 

561 

541 

SC 

553 

2220 

2160 

2160 

2200 

2570 

2480 

2510 

2570 

2230 

2160 

2180 

2180 

2210 

2180 

2180 

2200 

2020 


1790 

201B 

702 

690 

690 

697 

1510 

1440 

1450 

1460 

510 

490 

490 

490 

1420 

1360 

1360 

1400 

924 

901 

9tn 

910 

7B40n 

77100 

7800a 

7740a 

2340 

2200 

22TD 

yyffl 

5490a 

5420a 

5430a 

5480a 

stun 

2040 

2050 

2040 

3750 

3710 

3730 

3toU 

1620 

1550 

1550 

1560 

4190 

4080 

4080 

4150 

1250 

1238 

1230 

1250 

1080 

1060 

1060 

1070 

1070 

1060 

1060 

1050 

3560 

3550 

3550 

3620 

1420 

1360 

1360 

1360 

435 

421 

422 

432 

642 

575 

575 

<25 

5300 

5218 

5270 

5270 

509 

499 

502 

491 

8148a 

8100a 

8120a 

0160a 

run 

3290 

3310 

3240 

622 

605 

60S 

602 

2340 

2270 

2270 

2300 

1320 

1270 

1280 

1300 


475 

475 

488 

j 

340 

34) 

348 


726 

726 

745 

BTiV.l 

901 

981 

1020 

HTTte 

208 

209 

215 

■jifl 

870 

870 

ora 

55B 

531 

531 

549 

6830 

6710 

6720 

6710 

2280 

2220 

2250 

2210 

Kfl 

435 

440 

468 


480 

480 

487 

1760 

1700 

1700 

1740 

2890 

2BS0 

wran 

2870 

1680 

1850 

I860 

1870 

1090 

1060 

1070 

1070 

1160 

1110 

1120 

1130 

378 

361 

361 

364 

663 

655 

656 

652 

1460 

1420 

1420 

1440 


El 

835 

B45 



891 

090 

1400 

1280 

1290 

1375 

875 

860 

860 

873 


The Trib Index 

Prices esof3MP.lt. New York Hme. 

Jan. 1. 1B02 b too. 

Laval 

Chongs 

%atwnga 

yssrtadata • 
% change 

+ 13.25 

World Index 

149-34 

- 0.56 

- 0.37 

na^anal Indexes 
Asta/Patific 

110.96 

-tO -22 

+ 0.20 

- 17.38 

Europe 

156.26 

- 1.14 

“ 0.72 

+ 12-27 

N. America 

173.55 

- 0.30 

- 0.17 

+ 35.29 

S. America 

Industrial ktdexaa 

138.69 

- 1-38 

- 0.99 

+ 55.78 

Capital goods 

171.19 

■125 

- 0.72 

+ 28 JJ 3 

Consumer goods 

16754 

- 1.18 

- 0.70 

+ 21.13 

Energy 

177.95 

- 0.36 

- 0.20 

+ 31.21 

Finance 

11 Z 33 

-a 01 

- 0.01 

- 11.71 

MIsceBaneous 

154.68 

+051 

+ 0.20 

+ 13-89 

Raw Materials 

179.97 

- 0.09 

- 0-05 

+2652 

Service 

141.00 

- 0.41 

-029 

+1750 

LtbSt/es 

132.65 

- 0.77 

- 0.58 

+453 

The UVomationalHarakt Titrune Wbrid Stock btowr Ofreate the U.S. Hotter vatuo* at 

290 internationally Inv&st&ble stacks (tarn 25 cauntnos. Far mare ntamaHon. a bee 
book** te available by writing lomoTrii tnckix. 181 Avenue Charios do OatMr, 

92521 Noutiy Codex. Franco. CompBed by Bloomberg News. 

High Law 

□aw Prev. 


High Law 

Oom Prev. 


MBndFudasn 

1400 

1320 

1320 

1370 

Mettana 

13ta 

12.95 

13 

MllstoTnist 

835 

810 

810 

802 


29 JO 

29.04 

29U 

MumktMffl 

4290 

4160 

4160 

4270 

Newbridge Net 

41U 

4X20 

4X80 

NEC 

1370 

1340 

1350 

1370 


3X35 

3IJ0 

32J5 

NIUOT 

1670 

1600 

1400 

1670 

Horan Energy 

29X5 

29.10 

29'i 

NikkoSec 

754 

715 

715 

744 


95J0 

93 

95 

Nlnwtdn 

8830 

8490 

SAIO 

0730 

Novo 

11J75 

11JH) 

11.90 

Ntpp Expicss 

897 



850 

Onex 

25 

34U 

25 

NfepratOS 

510 



500 


56 

5514 

56 

Nippon Steel 

341 



337 

PelraCda 

2IJ5 

20 55 

21.05 

Nissan iifcJter 

708 

Hvjl 


707 

Placer Dame 

2620 

2X65 

2620 

NKK 

267 


■Til 

265 

POGOPadm 

1X55 

1X40 

1314 

Nomura Sec 

1500 

1450 

1440 

1470 

Potash 5as!s 

10430 10X00 

10X60 

NTT 

8790a 

B5T0n 


8650a 

Renahsance 

42V, 

4160 

4X40 

HTT Data 

3190b 

31 7Efc 

3180b 

3160b 

RtoAlgom 

3655 

34W 

3435 

Of Paper 

60S 

.W0 

597 

598 

RogarcCUiatoB 

27 

26*40 

2660 

Osaka Gas 

297 

288 

290 

297 

Seagram Co 

5X15 

5465 

5X15 

Ricoh 

1390 

13/0 

1370 

1390 

SMCKaA 

57 JO 

56 

il JO 

Rohm 

8800 

8/40 

87 SO 

8750 

Stone Camld 

21.90 

21.10 

21 JO 

SfitaaBk 

809 

/£! 

//i 

785 

Suncor 

62K 

61 

62 

Sanfcfs 

3470 

3240 

3280 

3410 

ToftwanEny 

43** 

4X10 

4X35 

SanwaBank 

1490 

1440 

1*40 

1400 

Tec* B 

32U 

31 JO 

32* 

Soityo Bee 

473 

460 

442 

470 

Tetegicto! 

41*15 

41.10 

41 ta 

Sacora 

6700 

6580 

6560 

6600 

Telus 

21V. 

21.10 

2130 

SeflMjftwy 

5610 

5370 

5370 

5560 

Thomson 

28M 

2/60 

7HM 

Sekfeiri diem 

1190 

1140 

1 1.54) 

1120 


381* 

37.85 

38-/0 

SeMsuI Hense 

ian 

1160 

1170 

1210 


17.10 

1640 

1695 

Seven-Seven 

7550 

nx 

7360 

7480 


2X95 

2X15 

2X95 

Sharp 

1470 

1440 

1450 

1440 


401* 


40ta 

Shikoku El Pwr 

2120 

2100 

2100 

2110 


30-55 

29.65 

3X15 

SWm&u 

715 

681 

681 

700 

TVXGotd 

1X35 

1015 

■020 

Sti&HrisuCh 

2320 

2280 

2280 

2290 

WestawtEny 

25 

24V. 

25 

SMseUo 

1560 

1540 

1550 

1560 

Weston 

71 JO 

'7060 

7060 


SMzuakoBk 
Saftora* 

Sony 

Sunnomp 
Sumitomo Bk 
SumltChsm 
Sumitomo Etoc 
Sum* Mata! 
Sun* Trust 
Tidsha Ptlrara 
TaftedaChem 
TDK 

TahokaB Pwr 
Taka) Bark 
ToUo Marine 
Tokyo El Pw 
Tokyo Electron 
Tokyo Gas 
Tokyo Corp. 
Tonen 

Teppan Print 
Tarnyrnd 
Tostsja 
T astern 
Tuyo Trust 
Toyota Motor 
YunanaudM 
trx lOCbtcx hOOO 


1060 

9980 

8630 

898 

1690 

493 

1670 

284 

1150 

2820 

2598 

B140 

2120 

973 

1260 

2310 

4100 

310 

603 

1270 

1470 

721 

693 

2620 

905 

3140 

2550 


1030 

9670 

8300 

B51 

1640 

462 

1668 

271 

1100 

2780 

2450 

8000 

2090 

945 

1220 

2270 

4050 

300 

586 

1150 

1420 

TO 

680 

2500 

879 

3050 

2530 


1030 1050 
9800 9630 

3300 8600 

851 900 

1650 16*0 

465 409 

1670 1670 

271 232 

1100 HOffl 

2780 2800 

2530 2570 
8000 8060 
2120 2090 

945 950 

1230 12£® 

2280 2280 
4080 « 

300 305 

586 582 

1150 1240 

1420 1450 

711 717 

683 691 

2500 2510 

893 894 

3050 3130 

2540 2530 


1314 

2970 

40.15 

31.65 
29.40 
92% 
1175 

24.90 
5.5JS 
•MAS 
2670 
1X45 
10415 

41V 

3435 

26V 

5X85 

56 JV 

21jQ5 

61.10 

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31 

4114 

21.10 

27.90 

37.65 
1645 
2X15 
40.15 
30-60 
1045 
2410 
7DM 


Vienna 


ATX tadec 121X69 


Prevlaes; 121660 

BaeMeMJddtoi 

02X90 

810 

813 81X50 

CredRansiPfd 

44X90 

451 

4WW1 

46X50 

EA-General 

3380 

3360 

3380 

33/5 

EVN 

1705 

1688 

1700 

1704 

Hunhafen Wien 
OMV 

575 528 549 

1390J0137X2S138X90 

563 

1381 

OestEfefcMz 

84260 837.05 84X80 841.10 

VAStaW 

476 470J0 47130 47X75 

VATech 

1780 

1759176680 

1774 

WTenerbetg Bau 

2245 

2220 

2234 

2235 


Wellington 


NZSE-48 todec 22ZL93 
PrevtoOB 222979 


Toronto 

Abrew Price 
Alberta Energy 

BSBToSr 

BCE 
BC 


TSE iDdaStriab: 613X82 
Prevtew 687478 


BomfaanaerB 

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Cdn Natl Rod 
cat Nat Res 
CglOcddPet 

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LOW law 0 
Laewen Group 
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2175 

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49.65 

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4945 4890 
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6X30 6X95 

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2X10 2570 
3X10 3145 
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50.10 49M 
3465 3445 

27.10 2690 
3420 3380 

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Fleiai Ch BKj 

431 

438 

439 

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1.90 

165 

1.90 

167 

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£91 

2JB8 

X90 

£90 

Uan Nathan 

330 

330 

332 

330 

Telecom NZ 

655 

650 

£55 

650 

Wilson Horton 

N.T. 

N.T. 

N.T. 

1135 


Zurich 


ABB B ^ 


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1692 

snlafaBE 285678 
Preteas: 2BM64 

1473 1682 1673 

425 4T650 

423 

426 

1219 

1708 

1210 

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880 

890 

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1737 

1724 

1730 

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2855 

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676 

692 

169 16X75 

16660 16X50 


531 

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5780 

5800 

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719 

710 

717 

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1957 

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two 

1950 

202 

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12435 

12240 

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298 29X50 

294 

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30311 

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805 

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955 

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1470 

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1463 

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1276 

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44X40 

438 

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PAGE 16 
























































































> ,uinnx <u> ■ 3007 


PAGE 3 


INTERNATIONAL HERALD TRIBUNE. TUESDAY, MARCH 25, 1997 


PAGE i; 


ASIA/PACIFIC 


s -r.o- 

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Rate Move 
By Japan 
Hits Stocks 

Central Bank Allows 
A Slight Tightening 

Cae^tltd by Our Sutf Fntn OaptMcha 

TOKYO — The central bank 
fired a warning shot Monday across 
the bows of a bond market showing 
worrying signs of overhearing by 
pushing up overnight cash rates. 

It was the Bank of Japan's first 
break with an accommodative mon- 
etary policy in 28 months. 

Traders said long- and short-term 
rates rose as the central bank main- 
tained a neutral credit stance despite 
a strong demand for funds in the 
money market. 

The unsecured overnight call 
money rate, the main money-marker 
target of the Bank of Japan, rose to 
0.58 percent from 0.53 percent Fri- 
day, sending a jolt through the bond 
market 

That spilled over to the stock mar- 
ket and sent shares diving as in- 
vestors took the move as a signal 
that the easy monetary policy of the 
central bank was coming to an end. 

The Tokyo Stock Exchange's 
main index fell more than 3 percent 
amid worries about higher taxes in 
Japan and a possible rise in interest 
rates in the United States. 

Falling more than 500 points in 
the final hour of trading, the Nikkei 
225-stock average closed with a Joss 
of down 58934 points, or 3.16 per- 
cent. at 18.043.82. 

It was the average’s biggest one- 
day decline since it lost 609.70 
points Jan. 20. The broader Tokyo 
Stock Price Index of all issues listed 
on the first section of the exchange 
was down 18.77 points, or 1.34 per- 
cent, at 1,375.71. 

Masayuki Hoshina, an economist 
at Okasan Research Institute, said. 
“The Bank of Japan’s tighter stance 
seems to be based on its view that 
recent sharp rises in bonds do not 
reflect the current state of die econ- 
omy." even though growth in gross 
domestic product for die three 
months to December was a relatively 
good 1.0 percent. 

Demand for 1 0-year bonds last 
week drove the yield down to a re- 
cord low of 2. 1 85 percent, compared 
with 2.625 percent in January. 

The Bank of Japan cut its official 
discount rate to 030 percent In 
September 1995 and since then has 
flooded the market with liquidity to 
holding down die overnight cash rate. 
But, apparently because of a lack of 
confidence in fee economy, feat 
money has not been funneled through 
as hoped into business investment or 
household consumption. (AFP;AP) 


Merrill Lynch Bets on Asian Markets 


Bloomberg News 

HONG KONG — Merrill Lynch 
Be Co., the world's biggest under- 
writer of stocks and bonds, wants a 
larger slice of Asia's booming cap- 
ital markets and is willing to pay a 
lot for the privilege. 

Three years ago, Merrill bought 
back $700 million of Chinese bonds 
After making a bad call on interest 
rates. Few of its rivals in Asia could 
afford a mistake feat big. 

But by helping China sell its first 
international bonds, Menill ce- 
mented a relationship with the 
Communist gatekeepers of one of 
the world’s fastest-growing econ- 
omies. It also sent a warning to its 
competitors. 

“Of all the American houses, 
they’re the ones I fear most,” said 
John Crossman, chief Shanghai 
representative at Jardine Fleming 
Securities, the British joint venture 
that has been doing business in 
Asia for two decades. 

Merrill, which fielded its Asian 
capital-markets team in 1993, 
smells profit because Asia needs to 
raise trillions of dollars as it grows 
— $8 trillion in the next decade 
alone, according to World Bank 
figures. To make money, Merrill 
first must spend money. 

Merrill's Hong Kong- and 
Singapore-based capital -markets 
team has grown to 80 people from 
five only four years ago. Mem'll 
plans to expand that team by a 
further 40 percent in 1997. 

Compensation is in line with 


amounts paid by rival firms, ac- 
cording to current and former Mer- 
rill employees. The members of 
Merrill's new-issue team pul! in 
more than $500,000 a year, in- 
cluding housing and other benefits 
along with bonuses feat can equal 
twice their base salaries, according 
to some executive-search firms. 

“We don't look at people in 


cent to 40 percent of its revenue 
from markets outside fee United 
States, according to Seth Waugh, its 
New York-based managing direc- 
tor for global credit trading and new 
i.ssuc.s. and Asia account* for almost 
half of feat nun-LLS. revenue. 

When China returned to the in- 
ternational capital markets a year 
ago. if picked Merrill and J.P. Mor- 


Asian countries are expected to need to raise $8 
trillion in the next decade, and Merrill Lynch 
hopes for a large piece of the business. 


terms of cheapness," said John 
McNiven, Merrill’s Hong Kong 
managing director. 

But Merrill expects results that 
will make the price worth paying. 

The firm was the top underwriter 
of dollar -denominated corporate 
bonds in Asia outside Japan be- 
tween January 1 995 and fee middle 
of this month. Its $3.3 billion of 
debt underwritten represents a 13.9 
percent market share, according to 
IFR Securities Data. 

In equities, Merrill's $842 mil- 
lion purchase of Smith New Court 
PLC 1 8 months ago created u world- 
wide sales force of 488. Its Asian 
equity sales team for markets other 
than Japan more than tripled, to 37 
flora 10, and it recently hired a head 
of China research in Hong Kong to 
beef up its mainland presence. 

Merrill Lynch now gels 35 per- 


gan & Co. to sell $400 million of 
bonds, including Asia's first -ever 
1 00-year bonds. 

In January. Merrill helped Re- 
liance industries Ltd. sell more 
than $300 million of bonds. 

Merrill is also expected to man- 
age _fee sale uf about $200 million 
of live-year notes for China Con- 
struction Bank, one of China’s 
bigaesi banks, according lo bankers 
familiar with the transaction. 

So far. Merrill has focused its 
attention on the rapidly growing 
business of dollar-denorninaied 
bonds in Asia. 

At more than $30 billion, the roial 
value of Asian international bonds 
in markets outside Japan is eight 
times what it was a decade ago. 

Even so. local-currency bond 
markets are growing, and compet- 
itors such as HSBC Markets and 


Peregrine Fixed Income Ltd. hope 
to consolidate their grip on that 
business. 

In its first full year of operations, 
Peregrine Fixed Income accounted 
for more than 79 percent of the 
SI0.9 billion earned by its parent 
company. Peregrine Investment 
Holdings. Peregrine recently hired 
15-member fixed-income teams in 
Jakarta. Bombay and Seoul. 

Andre Lee, Peregrine’s head of 
fixed-income bonds, said an Asian 
bond firm needed as many as 60 
people just to be competitive, com- 
pared with fewer than five a few 
years ago. 

"Peregrine brings out a lot of 
small deals, bolh in U.S. dollars 
and local currencies, that Merrill 
would never get involved in," said 
Robert Alboher. an emerging-mar- 
ker debt manager at MeesPierson 
Asset Management in Singapore. 

But Merrill's competitors are 
"disorganized," said Daniel Hem- 
mam, a fund manager at Guinness 
Flight Asset Management in Hong 
Kong. "Merrill seems to be mov- 
ing in in quite a big way, so they 
should do well.’’ 

As Asian bond markets heat tip. 
banks also have begun going after 
one another’s executives. 

In a major blow to Mem II ’s 
Asian bond business, five bankers 

— more than one-third of fee unit 

— left the debt and capital markets 
group within two months about a 
year ago. Many of them ended up at 
Deutsche Morgan Grenfell. 


Investor’s Asia 

Hong Kong 

Singapore 

Tokyo 

Hang Seng 

Straits Times 

Nikkei 225 

14000 - 

2250 rih 

22000 

13500 KI/JW1 

2200 ¥\ 

* 2ioooV\fA 

13000 • /y - • 1 ■ 

2150 \ J 

1 20000 \ 

12500 d* * 

2100 y 

1 19000 

12000/ - 

2050 H 

18000 

1i500 'o n d j f m 

o' N D J F 

M ™0 N'D 


1996 


1997 


1996 


1997 


1996 


J F M 
1997 


Exchange 

Index 

Monday 

Close 

Prev. % 

Close Change 

Hong Kong 

Hang Seng 

12,749.14 

12,499.30 +2-08 

Singapore 

Straits times 

2,094.40 

2,068.48 

+1.25 

Sydney 

AH Ordinaries 

2,402.10 

23.86.40 

+0.66 

Tokyo 

Nikkei 225 

18,043.82 

18,633.16 

-3.16 

Kuala Lumpur Composite 

1.214JS0 

1.212.94 

+0.14 

Bangkok 

SET 

713.85 

702.10 

+1.67 

Seoul 

Composite Index 

617.26 

623.13 

-0.94 

Taipei 

Slock Market Index 7.946.56 

8,234.07’ 

-3.49 

Manila 

PSE 

3^22.46 

3,201.65 

+0.65 

Jakarta ■ 

Composite Index 

649452 

656.11 

-0,99 

Wellington 

NZSE-40 

2,283,93 

2229.79 

-0.26 

Bombay 

Sensitive Index 

Closed 

3,700.20 

- 

Source: Tetekurs 


lmcnuiKMvil Hi-Tukl TiiKiuc 

Very briefly: 


Stocks and Won Fall as Seoul Reopens Hanbo Inquiry 


CjmptMbjOtr Staff Fran Dt^taeha 

SEOUL — Stock prices fell and 
the won slipped to a seven-year low 
Monday alter prosecutors reopened 
an inquiry into the bribery scandal 
embroiling Hanbo Steel & General 
Construction Co. 


The Seoul composite index 
dropped 5.87 points, or 0.94 per- 
cent, to close at 617.26, while fee 
dollar firmed to 880.80 won from 
880 won Friday. 

State prosecutors reopened fee in- 
vestigation into a loan and bribery 


Bre-X Threatens to Sue Over Reports 


Cabled by Our Staff tent Oaparchrt 

JAKARTA — Bre-X Minerals 
Ltd. said Monday it had “absolute 
confidence " in the size of the Busang 
gold deposit in Kalimantan and was 
considering legal action to counter 
repents the mine may not be viable. 

Speculation feat fee Busang min e 
may not be as large as previously 
reported was touched off by a report 
Friday, quoting an unnamed source, 
in fee newspaper Harian Ekonomi 
Neraca. After fee report, Bre-X 
shares plunged 13 percent, to close 
at $1 1 Friday .The stock was quoted 
in afternoon New York trading 
Monday at $11375, up 373 cents. 

The report came just three days 


after Bre-X’s chief geologist, Mi- 
chael de Guzman, died in a fall from 
his helicopter near the deposit that 
Indonesian authorities say appeared 
to be a suicide. His body was found 
Monday. 

David Walsh. Bre-X's president 
and chief executive officer, said the 
company had "absolute confidence 
in fee integrity and accuracy of as- 
say results and resource calculations 
reported by fee company for the 
Busang gold deposit” The com- 
pany added feat a “continuing pro- 
liferation of falsehoods" had 
prompted it to “consider legal ac- 
tion against certain parties and pub- 
lications." {Bloomberg, Reuters) 


GREENSRAN: How the Wizard of Monetary Policy Rules 


Continued from Page 13 

His hair is thin. He has a bemused grin when he talks. 
He usually wears tassel loafers, high black socks, a dark 
suit, 9 forgettable small-knotted tie and one of his pale, 
almost colorless shirts wife a little AG monogrammed 
on the chest 

He sometimes keeps one band in bis pocket, jingling 
a fraction of fee $133300 he makes every year. He 
seems gentle, thoughtful and quick to smile. In his 
woodwind voice, he rattles on about not wanting the 
Fed to “mislead fee market. " 

You can’t always be sure of what he is saying. 

His syntax is strange. As an example, here is an 
undiagrammable sentence from fee speech he gave in 
December to the American Enterprise Institute, which 
included the passing mention of “irrational exuber- 
ance" on Wall Street that seat the Dow down 166 
points. The debates, he said, “over the issue of our 
money standard have mirrored the deliberations on fee 
manner in which we have chosen to govern ourselves, 
and, perhaps more fundamentally, debates on the basic 
values feat should govern our society." 

Robert Solow, fee Nobel laureate economist, said 
Mr. Greenspan is not the first Fed chairman to employ 
circumlocution. “If you go back and read speeches of 
William McChesney Martin, or even Paul Volcker, who 
was a little more forthcoming, you'll find they talked 
pretty much fee same way. They’ve all mastered fee art 
of meaningless verbiage." 

‘ ‘Thai’s part of the normal manner of a chairman, to 
appear to be saying something while you’re saying 
nothing ai all," Mr. Solow added. "Alan is the fast 
master of this. It’s what central bankers do. Tbey re like 
squid, they emit a cloud of ink and move away. ' 

He was bom on March 6, 1926. When he was 4, his 
parents divorced. He was raised by his mother and 
grandparents in the Washington Heights neighborhood 
of New York. As a child, he gloried in large numbers. 
His mother would parade him out when he was 5 or so 
and get him to tally two three-digit numbers in his 
head ' 

He loved baseball. A left-hander, he easily took to 
first base. His mother taught him to play tennis. And, 
like iris-mother, be developed a deep appreciation for 
music. As a student at George Washington High 


School, just a few years ahead of Henry Kissinger. Mr. 
Greenspan played clarinet and tenor saxophone. De- 
termined to become a professional musician, he at- 
tended fee Juilliard School in New York, then fora year 
played wife the Henry Jerome swing band. 

Now, from his Washington office, Leonard Garment, 
who was fee manager of Jerome's swing band for a 
while and went on to become Richard Nixon’s law 
partner, recalls Mr. Greenspan as a good musician and 
crackajack bookkeeper. After a year wife the band. Mr. 
Greenspan entered New York University's School of 
Commerce and graduated with a degree in economics. 
He got a Master’s degree from NYU in 1 949. then 
shifted to Columbia University to work on his doc- 
torate. What his money ran low. he withdrew from 
graduate school and went to work for the National 
Industrial Conference Board, a cheerleader for big 
business. He eventually earned a PhD from NYU in 
1977. 

In 1952 he married Joan Mitchell, a painter. They 
stayed together less than a year, but she introduced Mr. 
Greenspan to another strong, smart woman: Ayn Rand. 
He was swept away by fee Rossian dmigrd’s novels of 
ideas, such as “Atlas Shrugged" ana “The Foun- 
tainhead," and her intriguing philosophy of “object- 
ivism,” or enlightened selfishness. 

Herbert Stein, an economist at the American En- 
terprise Institute and a longtime friend, said Mr. Green- 
span has developed his own economic philosophy and 
is beholden to no one. Pigeonholing Mr. Greenspan as 
an Ayn Rand objectivist is too simple, Mr. Stein said. “I 
flunk he’s a much more pragmatic, moderate, feel-your- 
way-along person.” 

In fee mid- 1 950s Mr. Greenspan and William Town- 
send, a bond trader, opened an economic consulting 
company. The firm worked quietly, offering forecasts 
and research to large businesses and financial insti- 
tutions. Today, his work at fee Fed is much fee same as 
fee work he did cm Wall Street: trying to understand 
how the economy is working and what drives it; of- 
fering suggestions here and there for improvement. 

When Mr. Greenspan does speak, everyone listens, 
watching for some slip. Mr. Levitt remembers bumping 
into him at a Kennedy Center affair. “How are you?" 
Mr. Levitt said. “Fm not allowed to say." Mr. Green- 
span replied. 


scandal involving Hanbo, which 
was declared insolvent in January 
under a huge debt load. 

South Korea's central bank said 
shortly before the market closed that 
it would supply $1 billion to banks 
this month to help ease a dollar 
shortage, but fee move had little 
impact on share prices. 

Koh Kyung Bae. analyst at Hy- 
undai Securities, said the Hanbo in- 
vestigation “is and will be fee main 
factor affecting the market” for fee 
near term. 

Park Byung Moon, research man- 
ager al LG Securities, said feat al- 
though banking and some blue-chip 
shares attracted bargain-hunters 
Monday, "it is hard to see a turn- 
around in fee overall sentiment until 
economic fiindamentaJs improve." 

Meanwhile, fee chairmen of South 


Korea's eight largest commercial 
banks pledged after an emergency 
meeting to support small companies 
as the failure of another steelmaker. 
Sammi Group, threatened to unleash 
a wave of bankruptcies. 

Sammi collapsed last week under 
$23 billion of debt The bank chair- 
men issued a joint statement saying 
the country 's banks would not buckle 
under their mounting bad debts and 
that major banks would do all they 
could to help small companies. 

“We will boldly support small 
companies," said Lee Kwan Woo. 
fee chairman of Hanil Bank. "The 
banks are not in serious trouble." 

He conceded, however, that fee 
business failures would mean at 
least 1.5 trillion won ($1.7 billion) 
in bad debts for fee country’s major 
banks. (Reuters, Bloomberg) 


• Japan's average real-estate prices fell for a sixth con- 
secutive year in 1996. posting a decline of 2.9 percent from a 
year earlier, even though declines in residential prices slowed, 
fee National Land Agency said. 

• China could join fee World Trade Organization in 1998 if 
all the major parties to its membership negotiations maintain :t 
strong political commitment to fee goal. Peter Sutherland, the 
former director-general of the organization, said. 

• South Korea will not press ahead with a plan to list state-run 
Korea Telecom on the local stock market unless fee market's 
condition improves. 

• Lion Asiapac Ltd. of Singapore, formerly Metal Con- 
tainers Ltd., posted a loss of 4.5 million Singapore dollars 
($3.1 million) for the six months ended Dec. 3 1 . 

• Thailand has no immediate plans to change the country's 
exchange-rate regime despire pressure by some investors to 
devalue fee baht because “the system is sound, credible and 
sustainable," its finance minister, Amnuay VLravan, said. 
Separately, fee government said Thailand’s current-account 
deficit was expected to narrow to 6.9 percent of gross domestic 
product this year from S.2 percent in 1 996. Bloomberg. Reuters 


Taiwan Pork Crisis Threatens Jobs 

Ctwnjt/rJ bt tint Staff F Dnpatchri 

TAIPEI — Unemployment in Taiwan will surge in April and 
could hit a 10-year high this year as an outbreak of foot-and- 
mouth disease wreaks havoc on fee island’s $3 billion pork 
industry, fee cabinet’s chief statistics office said Monday. 

A televised report said tire livelihoods of 900,000 people 
had been threatened since officials discovered fee disease on 
about 20 hog farms last week and banned all pork exports. On 
Monday, fee government ordered hog trading halted for three 
days at 19 of the island's 22 hog wholesale centers. 

(Bloomberg, Reuters ) 


In Nomura Scandal, a Lesson for Japan 


By Sheryl WuDunn 

A w York Times Service 


TOKYO — Bv some measures, Nomura 
Securities Co. is the largest securities firm in 
the world, and it certainly is fee most so- 
phisticated and powerful one in Japan. 

But after Nomura's recent announcement 
that a company investigation had discovered 
possible links to gangsters, clients have been 
breaking off lies to the firm. The scandal and 
its effects underscore how difficult it will be 
for Japan to conform to the norms of a modern 
international trading system. 

Japan aspires to make its financial markets 
as open and vibrant as fee markets in London 
and New York by the turn of the century. But 
Japan’s traditional closed style of business 
continues to haunt even fee most prestigious 
Japanese finns. 

Two weeks ago. Nomura disclosed that an 
internal investigation had shown illegal trad- 
ing profits being diverted to fee accounts of a 
real-estate client wife ties to the yakuza, or 
organized crime in Japan. These transactions, 
Nomura said, probably violated fee country's 
Securities Trading Law. 

Although it is unclear why Nomura was 
diverting fee funds, fee announcement raised 
suspicions feat Nomura was dealing with 
criminal gangs and paying them off. Japanese 
regulators are looking into fee matter. 

"After the Nomura announcement, the com- 
pany's president. Hideo Sakamaki, and other 
executives resigned, seeking to take respon- 
sibility. Two other ve teran executives. Setsuya 
Tabuchi and Yoshihisa Tabuchi, said last week 
that they also would resign. 

The fatter two. formerly top executives of 
Nomura and probably fee best-known leaders 
of fee securities business in Japan, are seen by 
many people as symbols of an era of old-style 
business practices. They presided over 
Nomura during fee 1991 scandal in which fee 
company was found to have compensated cer- 
tain clients for trading losses. 

Despite Nomura's steps to control the dam- 
age from the latest scandal, customers are 
marching away. Pension funds, bond issuers. 
Japanese municipalities, insurance companies 


and even Nippon Telegraph & Telephone 
Corp., the nation's largest telecommunications 
company, are pulling business from Nomura. 

On March 7, a day after Nomura acknow- 
ledged the wrongdoing, one of its affiliates. 
Nomura Investment Management, stopped do- 
ing business wife its parent. Thisapparemly was 
an effort to highlight the affiliate's ethical stan- 
dards and keep its fund-management clients. 

Last week, the California Public Employees' 
Retirement System took its business away from 
Nomura Securities, though it kept a $700 mil- 
lion portfolio at Nomura Capital Management, a 
U.S. unit of Nomura Investment Management 

“I think this will cause great change in 
Nomura,” said Paul Heaton, analyst at 
Deutsche Morgan Grenfell Capital Markets 
Ltd. “The speed at which the business comes 
back will be affected by fee speed by which 
Nomura attempts to reform itself." 

Because of Nomura’s diverse portfolio of 
businesses and its international reach, fee com- 
pany’s efforts to change the way it does busi- 
ness are critical to Japan's effort to modernize 
its financial markets. 

While the strategy of deregulation is hailed 
abroad, within fee Japanese securities business 
it will create winners and losers. Nomura had 
been expected to be fee biggest winner, so fee 
scandal points to fee extreme difficulties that 
the liberalization push faces. 

“The spotlight is going to hit some of the 
stuff we already know is going on here," said 
James Fiorillo. an analyst at ING Barings in 
Tokyo. ‘ ‘What it is reflective of is a brazen and 
gross neglect for fee rights of shareholders.” 

Japan *s securities firms have been under 
enormous pressure ever since the country's 
stock-market bubble burst in the early 1990s. 
Trading volumes have plunged since fee ex- 
uberant 1980s, and fee market suffered another 
major setback early this year, as concern over 
fee country’s banking crisis led investors to 
dump financial stocks. 

Nomura's own shares have fallen since the 
scandal started. Nomura closed ai 1,460 yen 
($1 1.81) Monday, down 10, and Moody's In- 
vestors’ Service Inc. recently revised its out- 
look on Nomura's debt and credit ratings from 
stable to negative. 


Daiiva Securities 
Warns of ‘Major’ 
Loss for Year 

C—nptlcdby tlho Staff F>- m A 9, aft, i 

TOKYO — Daiwa Securities Co. 
said Monday it would report a "ma- 
jor” net loss for the current finan- 
cial year because of a drop in rev- 
enue from trading commissions and 
tlve bailout of a lending subsidiary. 

“It is unavoidable that we will 
post a large net loss and we will 
cancel our original plan to use re- 
serves for coping wife losses," a 
statement issued by fee brokerage 
concern said. A spokesman said 
Daiwa would not disclose the exact 
size of the loss for fee year feat ends 
next Monday until its annual earn- 
ings report, scheduled for April 25. 

Toyo Keizai. a financial infor- 
mation service, recently forecast a 
net profit of 100 million yen 
t $809,000 1 for Daiwa for the year. 
The spokesman said Daiwa no 
longer released earnings estimates. 

On Nov. 25, Daiwa said it would 
give 120 billion yen to Daiwa Fi- 
nance Co., a real-estate loan sub- 
sidiary hurt by the five-year slump 
in Japanese property prices. Daiwa 
originally planned" to sell stocks 
from its own portfolio to cover 
losses from the bailout, buLTokyo's 
benchmark stock index has tumbled 
about 15 percent since then. 

Last week, Yamaichi Securities 
Co. widened its predicted net loss 
for the year by 48 percent, to 163 
billion yen, also because of a drop 
in commission income. 

(Bridge News. Bloomberg l 


V 

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PAGE 18 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 

















































































































































































" ““ — • '* , *' 1 . *_i_ ~ 


PAGE 20 


World Roundup 


|s^_ ■•:'-■ ' -“<•* • . -sj 

h ■ * j* * . * f 

LA. • s 1 ! A 



Steve Waugh, Australia's top 
scorer with 60, missing the bait 


South Africa 'Wins 


cricket A devastating spell of 
fast bowling by Allan Donald on 
Monday destroyed Australia's 
second inning s and pat South 
Africa on course for an eight wicket 
victory in the third test in Pretoria. 
Australia won the series, 2-1. 

Donald took five wickets for 36 as 
Australia was all out for 185, leaving 
South Africa needing 29 for victory. 
South Africa lost Adam Bacber and 
Gary Kirsten before Daryil C ullma n 
hit die winning runs. 

Ian Healey, Australia's vice-cap- 
tain, was banned for two matches 
for dissent He glowered at umpire 
Cyril MitchJey after being given 
out, stamped from tbe field and 
threw his bat through the dressing- 
room door. 

• Israel made its first sporting 
appearance in Asia since 1974 
when its cricket team lost its open- 
ing match of the International 
Cricket Council Trophy to Kenya 
on Monday. It is the first visit to 
Malaysia by an Israeli team, or any 
official delegation. Predominantly 
Muslim Malaysia has no diplomat- 
ic ties with IsraeL (Reuters) 


Albania to Play in Spain 


soccer Albania will use only 
foreign-based players for two up- 
coming World Cup games, Gjergj 
Thaka, deputy secretary-general of 
the Albanian Soccer Federation, 
said Monday. Thaka said he hoped 
a 20-raember squad would be ready 
for the Ukraine match on March 29. 
• Albania is due to play Germany on 
April 4. Both games will be played 
in Grenada, Spain, after FIFA, soc- 
cer’s governing body, ruled out 
playing in Albania because of the 
turmoil there. Thaka said the play- 
ers would be drawn mainly from 
Greek and German clubs. 

• Three Real Madrid players had 
said they would try to get them- 
selves booked in Sunday’s game 
against Real Zaragoza, but only one 
succeeded. All three are internation- 
als and had calculated that tbe auto- 
matic one-game suspension for then- 
next yellow card would coincide 
with dates when they would be away 
playing for their countries. Fedrag 
Mijaiovic plays for Yugoslavia on 
April 2. Christian Panucd, of Italy, 
and Clarence Seedorf, of the Neth- 
erlands, play internationals on 
March 29. Seedorf received a yel- 
low card for a tackle that will leave 
Zaragoza's Santiago Aragon out of 
action for three weeks. After the 
game Seedorf said his foul was not 
deliberate. (Reuters) 


Wolde Is Charged 


Olympics Mamo Wolde, who 
won tbe Olympic marathons in 1 968 
and 1972, was among 73 people 
arraigned Monday in Ethiopia on 
charges of participating in killings 
of 2,000 political opponents of Col- 
onel Mengjstu Haile Mariam from 
1974 to 1978. Wolde. 65. has been 
imprisoned since 1992. (Reuters) 


Cigar’s Biggest Check 


horse RACING An insurance 
claim over Cigar’s infertility has 
been sealed for $25 million, a Lon- 
don brokerage firm said Monday. 

“The horse is infertile, and the 
insurers have agreed to the settle- 
ment,” said Terence Minehan, 
managing director of Nelson 
Stevenson Bloodstock. 

None of 34 mares mated with 
Cigar, the 1995 and 1996 U.S. horse 
of the year, became pregnant (AP) 


AMSTERDAM 


By Michael Wilbon 

1 VasMngttm Post Service 


play,” he said, correctly. 
We’d love to give you 


We’d love to give you the officials' 
side of the story, but they’re not avail- 
able after games to give explanations — 
the way an 18-year-old kid has to ex- 
plain why he missed a last-second jump- 
er. 

By then, the officials had really lost 
control of the game. 

But Providence deserved the tech- 
nical foul after Croshere was called for 
his fifth infraction. 

■ With the foul shots and technical free 
throws and the automatic possession, 
Arizona quickly went from six points 
ahead to 12. 

Shortly afterward, with 6:50 to play, 
another technical foul went against the 
Friars’ reserve Jason Murdock — a se- 
nior who should know better. That led to 
five more points for Arizona. That’s 1 1 
points in two possessions. 

That Proviaence caught up before the 
end of regulation with their best player 
fouled out was pretty incredible. No 
wonder they were crying. 

Nearby in the locker room, Murdock 
sat with his face in his hands, eyes red. 
probably thinking about the stupid tech- 
nical foul he picked np for shoving an 
Arizona player after the whistle, in full 
view. 

Several feet deeper into the locker 
room, Gillen relived the decision to put 
Croshere back into the game with 1 0:30 
to play. Providence about to go down by 
eight points. 

Gillen, at one point when his team 
was trailing, asked his players if they 
thought they could win. “They all 
yelled at me. * WE CAN WIN!!!’ I made 
’em say it” 


kf 4 L INTKRNATIOFUi. fJM * 4 

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Sports 


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TUESDAY, MARCH 25, 1997 


Crying Game 
Comes Up Dry 
For Providence 


BIRMINGHAM, Alabama — With 
3.9 seconds left in regulation play and 
his Providence team having come from 
a dozen points down to tie the game, 
Pete Gillen looked at his players 
huddled around him during the most 
critical time-out of the season and saw 
something he’d never seen before in all 
his years of coaching. 

“All five guys were crying,” Gillen 
said. “Never seen anything like it. 
Some just bad tears rolling down then- 
faces. Others were really bawling. 
Couldn't believe it. It meant that much 
to them. Tbey’d come back from tbe 
dead, down 12, and we couldn't believe 
they had a chance to win it.” 

As best he could. Gillen tried to calm 
his players and get them to ran a play 
that could win the game in regulation 
time and get Providence College back to 
the Final Four for the first time in 10 
years. 

The play didn't work. Arizona 
covered it too well. The Friars lost in 
overtime, 96-92. and then the tears 
really flowed. 

Let's not fool ourselves about what 
happened here Sunday in the Southeast 
Region final; the basketball wasn't 
great 

More often than not it was pretty bad. 
Missed lay-ups. silly passes, dumb 
fouls, air balls, bad decision-making, 
atrocious officiating. Style points: 0. 
But these kids really care about getting 
to tbe Final Four. 

There might have been more tears 
shed here in 48 hours than anywhere 
since Olympic gymnastics. First, top- 
seeded Kansas bowed out and you’d 
have thought somebody had fatted tbe 
state to secede from the onion. 

it was the Providence players who 
lost it Sunday. 

“Usually,” Gillen said, “our emo- 
tion is an asset Today, it backfired on 
us. We might have been too excited, too 
pumped up.” 

That and some really bad officiating 
essentially handed the game to Arizona, 
which tried its best to give it back to 
Providence. 

Put these two teams on asphalt with 
rims, chains and no referees and Provid- 
ence creams Arizona’s 8 out of 10 times. 
But inside with the officials you've got a 
different story. And two sequences 
changed the direction of the game. 

It all started with 9:16 left in reg- 
ulation when Providence's best player, 
the 6-foot-9 (2-meter) senior forward 
Austin Croshere, was whistled for his 
fifth foul. Except it wasn't Croshere 
who committed the fbuL His teammate 
Ruben Games did. But Croshere was 
gone. 

"I don’t remember even being in tbe 



Smith Play 8 

Psychologist to 
Rally Tar Heels 


fort 




r. r-vjsJjL 


By George Dohnnann 

lsn Anaeles Times 


North Carolina’s center Charlie McNaru cutting down the net in celebration of the Tar Heels’ 97-74 victory. 


FINAL FOUR 


MIDWEST 


is S.W. TtaacM st 46 


1997 NCAA 
Men's Basketball 
Tournament 


SYRACUSE, New York --Wife 
7:38 left in the East Regional finah- 
North Carolina was on the verge, ot 
blowing a 21 -point halftime feadjmd 
somehow losing to injured and under- 
sized Louisville. . 

It was at that point m top- seeded North 

Carolina’s 97-74 victory that coach 
Dean Smith crowded his team around 
him during a tune-out and said: Tney 
could come back and win. But, hey, it s 
all right We've had a great season. . 

Call it reverse psychology, and tt did 
reverse the 33-15 Louisville ran. that 
jolted 30,230 at the Garner Dome BeiS 
most of whom had done the mat h at : 
halftime and figured on North Car* 
lina's 13th trip to the Final Four and M 
fourth in the 1 990s. . - t ' 

A * We knew he was trying to ^t 
heads," the sophomore forward-_Aire 
awn Jamison said, “but we knew den 
down inside the game was not going to 
get away from us. ’ ’ : ' T.T 

After Smith’s doctoring, the;. Tar 
Heels outscored Louisville, 28-8. 
-came after the sixth-seeded Cardinals 
trimmed the North Carolina. lead tft 
three, 69-66. - 3^ 


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I Tulsa 5B 



Colorado! 
March 21 
Syracuse. N.Y. 


[12 Boston U. 62 


13 Mead, Ohio 98 


6 loan State 09 


March 22 
San Antonio 


March 23 
Syracuse, N.Y. 


ILCteolmSZ 1 

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FUriMd74 1G 



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lndtan >62 B 

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CaMomhi S3 9 

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Pihwtuil 52 12 

F* 

VBanomlOl 4 

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Lens Island U.B1 13 



North Carolina was led by Sham*; 
end Williams, who scored Z2 poind 


RBnala State 57 


March 20 
Sun Mono 


Kaw Mexico 63 

March 21 
Syracuse, MX 


FINAL 
March 31 
Indorapais 


I la-1 « an 

IB Charteaten Southern 75 


March 29 
tadanapoCs 


March 29 
reSan^rafis 


Coppto Stela 61 


LnMbK 6 

J 


1 

UMSM57 tt 


Nsw Harden 88 3 

Tt 

H 
— 1 

07 

OW DocaMon 53 14 


03 

Wticdi5taSB~7 

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H - 

55 

T«xas71 10 


- S.Caroflna85 2 

J 


COppin State 78 15 

■ 


SOUTHEAST 


I Kentucky S3 


Jackson SL 64 


Beaton CotL 73 


March 2D 
San Jose, Ml 


I Boston CoS. 77 


Punfuafll I 

March 21 
Btnningham, Ala. 

CoO. of Charleston GO I 


Rhoda Wand 78 B 


Cod.' oT Charleston 75 >2 


St. Joseph's 75 


[ 8L Joseph's 68 


Arizona 65 4 


I SL Joseph's 81 


March 22 
San Jose. CaB. 


March 23 
BSrwigtHm, Ala. 


Sooth Alstemis 57 13 


|11 Oklahoma ST 


Tam^CMtawoga as 


SotehamCMT? 11 


3 Wake Forest 58 


Gaorgla7D 3 


14 SL MaoTa. Cal. 46 


7 M.C^Chartotte79 


March 20 
San Jose, Call 


[flG-CharlotteSI 


ProvkSonca 92 


Tsmi-ChaUiswags 75 I 

March 21 Tar»xawttenooga73 14 

itatpwtea 7 
ProvMsneaMI 


Providence 81 10 


mo rid W illiams , who scored 22 poind . 
with six assists and was named the rij.- 
gional’s most valuable player. 

“They responded accordinglyafte^ ; 
tfiar time-out.” Smith said. “They - 
played great in tbe first half and over the 
last seven minutes.” * 

The part in between belonged to 
Louisville (25-9J, which played cota* f 
ageously considering it gave up an av- 
erage of 3 inches to North Carolina (28- 
6) at every position and had its point 
guard ana leading scorer; JDeJuaQ 
Wheat, limping the ball upcourtbecausS 
of a sprained ankle. Wheat told his 
. coach. Denny Crutn, that he could play . 
after shooting before the game, but he 
scared qnly.sik points in 32 minutes and 
was relegated to standing outside the 3^ 
point line and finding open teammates; 

“DeJuan wasn’t 100 percent,” W2* 
liams said. “But he showed guts dying 
to play.” ... .. .. ■••• - 

In the first half. North Carolina jfe® 
Louisville without a field goal fen the 
final 5:29, scored a field goal or made i ' 
free throw era 10 consecutive posset 
sions, and went into the half with a 54-33 
advantage. Tbe Cardinals had not trailed 
by more than nine at the half all season; 

The Tar Heels' zone took away Loui^ 
ville’s inside game and forced the Car* 
(finals to shoot 3-pointers, which they 
did a season-high 34 tunes, making 1 li 
Louisville focused its defense od 
Jamison in the first half and he scored J 
only six, but Williams made three of * 
four 3-pointers and had 15 at the break; 
and Vince Carter scored 13 of his 18. 

During the same time-out that Smith 
played his mind game, Crum pleaded ■ 
with his team: “Don’t quit. You’ve 
done an amazing job.” -? 

But after getting within three, Louis? 
ville missed its next seven shots. 

After beginning Atlantic Coast Con- 
ference play 3-5, North Carolina his . 
won 16 in a row. 

Said Jamison, who scored 15 arid 
played most of tbe game with an injured 
back: “This is a special feeling. We had 
some tough times, but after vthat 
happened, it shows how hard we 
worked. 

, Back when we were losing we .wer- 
en't playing as a team and there were fc 
lot of egos,” he said. “But we eat S 



Score bo 

IS2SZS1 


[aarx* Baseball 




h? 1 * * ~ ■ 


%ISTHJ; 


MEN AC 


Murray Stall 68 


lot or egos, he said. “But we got S 
together and we put everything aside. " 
and now we’re in the Final Four.” 


; 


There was so little for Gillen to feel 
bad about, yet tbe very fact that Arizona 
was cutting down nets and headed to 
Indianapolis made him and his team feel 
bad enough. 

Gillen tried to find some solace in 
thinking about tbe teams that, like his 
own, were going home instead of to 
Indy. 

“Kansas. Louisville. Utah." he said, 
ticking off the regional final losers. It 
wasn’t working immediately, but a man 


Back on Track, Blazers Zip Past Knicks 


- A 


has to try something when his team has 
played this hard, this relentlessly and 
still lost. 

“I can live with it.” Gillen said. "I 
tried, the kids tried. What else are you 
going to do?” 


The Associated Press 

The Portland Trail Blaz- 
ers, who saw their ! I -game 
victory string snapped the 
previous day, turned around 
and beat the New York 
Knicks, 94-88. 

“I just wanted to see us 
bounce back and play well,” 
P.J. Carlesimo, the Trail 
Blazers coach, said after 
Kenny Anderson, a New 
Yorker, returned to his home 
town and scored 24 points. 


Portland turned on the de- 
fense in the second half. New 
York scored just 36 second- 
half points and heard boos at 
Madison Square Garden. The 


NBA Roundup 


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Knicks led by seven at tbe 
half, but shot 4-for-18 and 

were outscored. 22-13, in the 
third quarter. 

Portland's five starters all 
scored in double figures, with 
Anderson leading the way. 

‘ ‘I just wanted to go out and 
take it as an NBA game aod 
do my job,” said Anderson, 
who distributed 22 tickets to 
friends and relatives. “I 
didn't want to put too much 
pressure on myself. I didn’t 
do anything dinerem.” 

Jam 120, Nugguts 103 
Utah has also been hot lately. 
It hit 65 percent of its shots in 
Denver, the highest ratio in 
tbe NBA this season. Karl 
Malone, who is on a tonid 
shooting streak, went I4-for- 
17 and scored 35 points. 

In his last three games, 
Malone has hit 36-of-48 
shots — 75 percent — with 
most of them coming on me- 
dium-range jumpers. 

“I can’t remember having 
a better feel from outside,’ 
he said. 

John Stockton had 22 
points and 15 assists for the 


Jazz, who boast the best rec- 
ord in the Western Confer- 
ence and who are 19-3 since 
the All-Star break. 

H*"* 113« Timborwotvtes 
108 Miami, too, is on a 
streak. It won its sixth game 
in a row and welcomed back 
Alonzo Mourning, who had 
missed 13 games with a foot 
injury. Mourning scored 21 
points and grabbed eight re- 
bounds. Voshon Lenard and 
Tim Hardaway each added 
22 points as the Heat record- 
ed their franchise-record 5 1 st 
win. 

..copwi-ioe.SpiTfOi Ma- 
lik Sealy scored a season- 
high 30 points as the host 
Clippers completed a four- 
game season sweep of the 
Spurs. The Spurs have lost 
five m a row. 

StqMTSMiie* 106, (W rei 

®2 Gary Payton scored 3l 
points as the SuperSonics 
built an early 27-point lead 
andcoasted at Vancouver, 
pie Grizzlies, who snap- 
- “ losing streak 

with a 109-101 victoi/F??- 
day over Denver, lost their 
league-worst 59th game. 

Meta loo, WBa 91 Sam 

Cassellscored 14ofhisgame- 
fegh 30 pomts in the final 
Ruarier at Boston. Boston is 0- 
Atlantic Division 
SJSPJJJJ?- it was the Celtics* 
24th loss m 26 games. 


Hawkm ®°. Raptors 79 

Mookie Blaylock scored 18 
points to lead five Atlanta 
staiters in double figures a 3 
tbe Hawks clinched a playoff 
spot and extended their with 
rang streak to four games. 

. Dikembe Mutombo had " 
13 points and 1 3 rebounds for 
the visitors. Marcus Cain by 
ledLheRaptors wife a career- 
re gh 37 pomts. ’ « 

a • game ^Ported in. 

Monday s paper: : 

Magic 110, Laker* 84 

Penny Hardaway and NicE 
Anderson each scored 2? 
points as Orlando beat vis* 
King Los Angeles. 


4 \ 

■Ifer " 1 

,^V^i«ccr?rT 


ss? 


PSS!. 





® N.J. Nets Apologize -* 

2gf« 

^ a IWOice at rS ' 






N-,. 

^ V “J ^ 




feu, . “ 




Jr * 


the N« e £1 covexea 
seasons; 


Calinori.Hl seasons; 

Uke hk JR**** 111(1 aot 
*«e hj S criticism of the team. 


hiSa. ' * 07 - r-T is 




* 






nm on i«w 


'c^JAc* VAA 



INTERNATIONAL HERALD TRIBUNE, TUESDAY. MARCH 25, 1»7 


PAGE 21 


• anJ \ 
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s,sm ^ 


; .7 XX ^ % ,. 

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K-- 

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SPORTS 




Showdown of 
16- Year-Olds 
In 3d Round 


By Robin Finn 

Mere York Tima Service 

' KEY BISCAYNE. Florida — Hie 
first, but certainly not die last, showdown 
between Martina Hingis and Venus Wil- 
liams — a pair of 16-year-olds who 
would take it as an insult to be called 
sweet — went to Hingis by acclamation 
at the Lipton Championships. 

- Though die IlOtfi-ranked Williams 
had muscled past Jennifer Capriati, a 
self-described “ex-phenom,” in the 
second round, she could oot out-hit or 
outwit Hingis, a true phenom who has 
already accomplished what Capriati did 
not: At 16 she has captured a Grand 
Slam, the 1997 Australian Open, and 
laid siege to the No. 1 ranking. 

• On Sunday, Hingis sued up the 
beads, the braids, the braces and the 
legal height of Williams, who is 6 feet 2 


"Mb. 

— tQ 

1 L »*'is 
■— 

Arr^a-. 

- * ■ 


- r ‘ —-is. 





Mala Lnaadia/rbD »”*— 1 Preaa 

Sergi Bruguera of Spain defeating 
Michael Chang in the third round. 


Haoa Dcryim* Amcuinl Pro) 

Martina Hingis after questioning a 
call during her third-round match. 

inches U -88 meters) and still sprouting, 
and came away unrattled and un- 
defeated with a 6-4. 6-2 victory that 
improved her 1997 record to 22-0. 

She is still a week away from having 
the No. 1 ranking ratified by computer, 
but Hingis — top-seeded here because of 
the absence of the defending champion. 
Steffi Graf — is taking it seriously. 

Hingis said the top spot requires a 
special outlook. 

“Y ou’re No. 1 and you kind of have a 
responsibility to players who are lower- 
ranked than you are." said the Swiss 
player. 

On Sunday, she administered a third- 
round tutorial to a contemporary who had 
the temerity to ignore Hingis’s status. 

“I feel that fm the best. O.K., and 
even if it wasn't true, l can feel that way; 
it makes you play better." Williams 
said. The American made 28 unforced 
errors and saved only two of eight break 
points. 

On the men’s side, the upsets con- 
tinued. A day after the defending cham- 
pion, Andre Agassi, lost in the opening 
round, third-ranked Michael Chang’s 
1 1 -match unbeaten streak hit a snag. 

A startled Chang let down his guard 
and allowed Sergi Bruguera of Spain to 
* ‘whoop the ball around" and dictate, 6- 
4, 6-3, in a third-round match on the 
Stadium Court Chang wasted seven of 
eight break-point chances and wilted 
instead of whooping the ball back at the 
35th-ranked Bruguera. who reached 
Upton's fourth round for the first time. 


Mickelson 
Sizzles on 
Back Nine 
For Victory 

By Leonard Shapiro 

Washington Pitsi Se rvice 

ORLANDO — Phil Mickelson hit a 
breathtaking eagle and three birdies 
over a four-hole stretch to seize control 
of the Bay Hill Invitational for his 10th 
career victory on the PGA Tour. 

Mickelson fired a 65 Sunday — 
which included a course record-tying 
30 on the back side — on a dead-calm 
day that allowed him to shoot 1 6-under- 
par 272 and hold off Stuart Appleby, the 
25-year-old Australian who was aiming 
for back-to-back victories, by three 
shots. 

‘ ’1 tried to emulate you, Mr. Palmer, ’ ’ 
Mickelson said at the 18th green before 
Arnold Palmer, who owns the golf club, 
helped him into the dark gray blazer that 
goes to the winner. 

Mickelson made a 1 2-footer for bird- 
ie at the I lth. He made the only eagle of 
the week at the 570-yard 12th when his 
50-foot putt died on the edge of the hole 
and plunked down for a three that 
earned him a share of the lead. He 
followed that with birdie putts of 15 and 
1 0 feet at the next two holes to complete 
a 5 -under stretch over four holes. 

"That eagle putt was an unbelievable 
shot because I wasn ’t expecting to get it 
in," Mickelson said. "It threw me up 
there quicker than I expected. After that 
putt, things kind of slowed down. 1 was 
able to see the line on the next two putts 
much easier." 

Appleby, who won for the first time at 
last week's Honda Classic, had to settle 
for second mostly because of a balky 
putter that failed to convert numerous 
birdie attempts. He shot 69 for a total of 
275. a stroke ahead of Mark O’Meara 
and Payne Stewart and the third-round 
leader. Omar Uresti. 

Tiger Woods, who began the day five 





Laura Davies watching her winning putt fall for the victory in Phoenix. 


off the lead, finished at 10-under-par 
278 after a 68, tying him for ninth with 
Davis Love 3d. He had putting problems 
and his iron play was spotty, but be was 
4 under on the back nine. 

Mickelson began the back nine trail- 
ing Appleby and Uresti by three shots. 
By the time he walked off the 14th 
green, he was ahead by two and on the 
way to a check of S270.000. 

■ Davies Makes It 4 Straight 

I .aura Davies became the first LPGA 
player to win the same tournament four 
years in a row. rolling in a 3-foot par pun 
Sunday on the first playoff hole to de- 
feat Kelly Robbins in the Standard Re- 
gister Ping, The Associated Press re- 


ported from Phoenix. 

“My record is not too swift in play- 
offs — oh-and-six before this. I 
wouldn’t have been surprised if I didn’t 
win this one. either," Davies said. “I 
guess it was just meant to be.” 

On the men's tour. Gene Sarazen and 
Walter Hagen are the only players ever 
to win four in a row. Hagen won the 
PGA Championship from 1 924-27. 
while Sarazen took the Miami Open 
from 1 926-30; no tournament was 
played in 1927. 

Robbins forced sudden-death by 
rolling in a 1 0-foot birdie pun on the 
1 8th hole for a round of 69 and a tie with 
Davies, who shot 68 for a 1 5-under total 
of 277. 


Captain Gone, 
Philadelphia 
Battles Past 
Avalanche 


The Associated Press 

The Philadelphia Flyers bounced 
back from an embarrassing 3-3 tie with 
the lowly New York Islanders and beat 
the Colorado Avalanche, the Stanley 
Cup champions, 2-0 — without captain 
Eric Lindros. 

“We’ve been getting away from our 
system," said the Flyers’ goaltender, 
Ron Hextall, who made 19 saves for his 

NHL Ioonovp 

fourth shutout of the season and 19th of 
his career. "We stayed with the system 
the whole game. We were very gritty. 
Our defensive coverage was great." 

The Flyers won the battle between the 
Eastern and Western conference leaders 
despite the absence of Lindros. He 
bruised a calf in Saturday night’s tie. 

The Flyers again beat Colorado’s 
goalie, Patrick Roy, who has won only 
one of his 20 career starts against Phil- 
adelphia. The Flyers fired j 1 shots ar 
Roy and repeatedly crashed the net. 

stars 4, Muss i Mike Modano had a 
goal and an assist while his team was 
shorthanded in SL Louis and Jere Le- 
htinen scored twice as Dallas extended 
its unbeaten streak to eight games. 

aiaekhawk* 5, Red Wmas 3 The 
Blackhawks scored on three of their first 
four shots and held on for a victory over 
visiting Detroit Jim Cummins, Eric 
Daze and Alexei Zhamnov connected on 
consecutive shots during a 1 :56 span. 

Ducks 4, oners 1 At Edmonton, 
Teemu Selanne bad a goal and an assist 
while playing less than half the game as 
Anaheim ’beat the Oilers. Selpnne pulled 
a muscle and left the game early in the 
second period. Anaheim's goalie, Guy 
Hebeit, stopped all 10 shots he faced, 
before leaving at the start of the second 
period because of dehydration and heat 
exhaustion. He was replaced by Mikhail 
SbtaJenkov, who made 32 saves. 


Scoreboard 


’ Exmbitioh Baseball 




fidnm 
New York 


AMEHICAN LEAOUE 
W L 


Oakland 
: .' Seattle 
... Kansas CBy 
“ Toronto 

Mtaaukae 
; Qkngo 

;X v*** , 

Boston ■ 

• - ; Pterart 

” • minwota 


■ —r ftoAM 

RLoub 

. ... San Francisco 


NATIONAL LOAOUE - 
W L 


-• Son Diego 

Houston 
fas Angeles 
Colorado 
- Chfcnga 
— v b Ctodmiafl 
Pttebwgh 
9 -- --■■* 


Tam 9, PtiBodefpfita 4 
Minnesota 7, Boston 6 
CMcogo WWtoSat & Toronto 1 
San FrandscD 6 Chicago Cuba 3 
OaMondS Colorado 1 
Anaheim & San Diego (si) 5 
Milwaukee 14 Seattle 3 
San Dtego Css) 4 las Vegas (ssl 3: 


NBA Standwos 


■ ATLANTIC C 

w 

u-Mtami 51 

x-NawYotfe 49 

Oriuido ‘ 39 

Washington 33 

New Jersey 21 

Phfiadetphla 18 

Boston 13 

CENTRAL D 
A-CMcago 59 

x-Detrotl 48 

x-AMonto 47 

Charlotte 45 

Oevekmd 36 

ttxflono 31 

MOwoufcee 28 

Toronto 25 


b» Angeles 4 Houston 3 
Montreal & New Ybrit Mato 0 
Xmns Qty 5, anCbmn 3 
&aflinwe», Atlanta 7 
St tools 4, Oevetand 1 
Florida 4 Detroit 2 
Pittsburgh 5, New York Yankees 3 


x-utah 

x-Hauston 

Minnesota 

Date 

Denver 

San ATOonto 

Vancouver 


Portland 

41 

29 

JU 

B 

LA. Clippers 

X 

37 

MS 

17% 

Phoenbi 

29 

39 

-426 

19 

Suu an lento 

29 

40 

><20 

19V, 

Golden State 

25 

43 

MB 

23 


l . pa &b 
17 ‘ .750 - 

20.. -.710 Th 
- J S r .574 12 

35 45 18 

46 .313 2955 

4? .269 3ZW 

57 .186 39 

naoN 

9 JAM - 
» .706 11 

22 Z81 1254 

24 452 1454 

35 SB 2254 

36 M3 2754 

39 418 3054 

44 363 14 * 


STomaoN 
W t Pel OB 

52 17 .754 — 

45 23 662 654 

33 35 .485 1854 

22 45 JS 29 

19 49 .279 3254 

16 53 335 3554 

12 59 .169 41 


MOHeDARBON 

x- Seattle 48 20 JOS - 

x-LA. Lakers 45 23 M2 3 


x-ctoxhed playoff spot 

HM Mrssmus 
LA. Lakers 14 24 20 26- 84 

Offered* 31 35 22 22—110 

LAi Campbell 7-14 2-4 id. Van Eal4*124- 
41*0: Andrews! 8-1500 21. Hardaway 9-19 
2-2 21. m ho — do L otos <9 (Kersey, BtowO 
87.0.53 (Grant 16).AsstSfe-Latos21 (Von 
Brel 6), 0. 25 (Scott Hardaway. Shaw 51. 
NawJenar W J4 it 23—100 

Boston 32 30 19 Id- 91 

NO: COSMO 11-20 7-7 3a ntffes 6-10 34 
IS BsVWtaras 9-1811-13 29, Wcfflwr 9-20 3- 

6 22. Mwuh - New Jersey 48 (Morarass 
10). Boston 5B (Wofter 13). Assists— New 
Jersey 21 tCassefi 11). Boston 22 (WAon& 
Wesley 5). 

Adnxta 29 27 20 14- 90 

Toronto 17 28 18 16-79 

A: Blaytock7-1534 1& Smith 6-1 74^ 17>T: 
Comby 15-28 7-8 37. WOBoms 5-12 1-2 13. 
Sefaonads-Atado 54 IMutombo 13). 
Toronto 38 (WBRam& Onnhy 8). 
Asdsto— Aflanta 2) (Smith 8), Toronto 23 
(Stoudantire 9X. 

Mhani 24 34 18 37—113 

Minnesota 22 29 23 24-108 

MiLenordB-11 34 2Z Hardaway 6-17 7-8 
22 MrMarbury IB-1745 27, GugBotta 9-177- 
9 25. Reboawb— Miami 40 (Mourning BL 
Minnesota 56 (Gugnalta 14). Assists— Mtand 
21 ( ll Haway 8), Minnesota 29 IMnrWry 
9). 

Parttarel 17 28 22 27— 94 

Hew York 22 30 13 23-88 

P: Anderson 7-13 10-12 24. Oder 8-72 5-6 
23; N.Y^Ewtngll-22 12-1635. Oaldey 5-11 5- 

7 15. Rebaoreto— Portland 50 (R-Wafloca 
Softools 8). New York 59 (Ewing 12). 
Assists— Portland 15 (Anderson 7). New 
York 19 romas a. 


Utah 24 35 31 38—120 

Denver 20 27 28 28—103 

U: Malone 1417 7-9 3 5. Stockton 9-14 4-4 
22; D: McDyess 8-188-9 24. LEUls 7-22 7-9 
22. Rsboaads— Utah 44 (Molone B). Denver 
41 (Johnson B). Assists— Utah 30 (Stockton 
IS). Denver 22 (LEHs. SnrtttL Thompson, 
Allen 4). 

Sou Antonio 22 19 27 23- 91 

LJLcappen 26 27 21 22-106 

SJk^ wntams 8-14 1-2 17. Del Negroa-UO- 
0 17; LA. CUPPERS: Seoty 13-22 2-3 3a 
Rogers 5-106-1017. Reteands-San Antonio 
48 (Perdue 12). Los Angeles 44 (Wrtgtrtll). 
Assists— San Antonio 1 8 (AHreredor 1 0), Los 
Angeles 21 (Bony 7). 

Seattle 34 22 21 29—104 

Vancouver 19 23 21 27- 92 

S: Payton 11-21 8-t0 31. Kemp 8-13 2-S IB; 
V: Abdur-RaMm 413 15-17 73. Reeves 9-13 
3321. Rebomcb— Seattle 44 (KemiL Payton 

6) . Van-comer 39 (AMur-Rahlm, VifflBoms 

7) . Assists— Seattle 24 (Payton 11). V. 21 
(Anthony 5). 


NHL Stamm mos 


26 33 14 66 221 252 

27 35 10 64 194 Z25 

24 33 15 63 200 212 

24 40 9 57 211 263 


ATLANTIC OMBON 
W L T Pta 
*-PWJcdelphta <1 11 11 93 

x-New Jersey 39 20 13 91 

Florida 33 24 17 83 

H.Y. Rangers 34 30 9 77 

Washington 29 36 8 66 

Tampa Bey 28 37 7 63 

tLY. Istonden 25 36 11 61 

NORTHEAST DtVHUON 
WIT Pta 
x-Buftoto 38 23 11 SJ 

Ptffsburgh 34 31 7 75 


CENTRAL DIVISION 



W 

L 

T 

Pfs 

GF 

GA 

x- Dallas 

44 

23 

6 

94 

228 

174 

Dettoh 

34 23 15 

B3 

229 

174 

Phoenix 

35 

34 

5 

75 

213 

222 

5t. Louts 

31 

33 

9 

71 

214 

223 

Chico go 

29 

32 12 

70 

193 

1B7 

Toronto 

26 

41 

6 

58 

210 

253 


PACIFIC DAMON 




W 

L 

T 

PH 

GF 

GA 

x -Colorado 

45 

19 

9 

99 

248 

I7B 

Edmonton 

33 

33 

7 

73 

225 

220 

Anatrebn 

31 

31 11 

73 

216 

208 

Calgary 

31 

35 

B 

70 

198 

208 

Vancrenrer 

30 

39 

i 

64 

224 

248 

Los Angeles 

26 3B 

9 

61 

192 

240 

San Jose 

24 

41 

7 

55 

T82 

238 

x-dnehed playoff spot: 





BOMBAY'S USUm 



ABObetoi 




2 

2 

0-4 

Eitotrerioa 




0 

1 

0-1 


Ffest Period: A-setanne 47 IKurf) 7. A-. 
Kartya37 (DMIronov. Seknuw) (pp|. Second 
Perieto A-Pronger 7 (Dalgneaulc Kiurf) 4, A- 
Knrpa 1 (Kartya. Ruochln) S. E-, KMolenko 
30 (Amort. K8mo) Third Period: None- 
Penalties— None- Shots an 90 * a- 12-14 
5-31. E- 10-17-16—13. Gotftes.- A-Habert, 
Shtotenkm. E-Joseph. 

Detroit 2 0 T— 3 

ddcago 4 0 1-5 

First Period: C-Cummlns 6 (Probert 
Cheats) Z C-D are 16 (Sykoro) 1 C-Zhamnoir 
17 (Dahlen, Amante) 4. D-Shonahan 45 
(Larionov, UdstronO & C-Krtvotoasav 10 
f Craven. WeJnrtch) (pp). 6. D-YZerman 17 
(Shanahan, Sandsuom) Second Period; 
None. TMrd Period: C-Krivokmsov )i 
(Cravea Wobirfeh) & D- Draper & shots on 
go dt D- 15-46—27. C- 8-14-9-31. Conte: 
D-Vomon. Hodson. C-Terrert 


Dtflas 0 1 3—4 

SL Louis 0 1 0-1 

1st Period: Noire. 2nd Period: s.L-Po- 

trovtcky 6 (Hirtl Maclmis) Z D -Modano 32 
(Ludwig, LehKnen) (sh). 3d Period: D- 
Lehtlnen 1 1 (Modana Zubov) (sh). a D-Reid 
1 1 (Harvey, Zubov) & D-Lehttnen 12 (Adams. 
Modanal Shots an goat D- 7-66—19. S.L- 
11-6-5 — 22. Goodes: D-trtre. SJ_-Fuhr. 
Colorado 8 8 8-0 

PUoMphta 1 0 1—2 

First Period: P-FoBoon a Second 

period— None. Third perio d. P-Ofta 13 
(LeCkilr, Watt) Shota an got* C- 48-3-19. 
P- 10-9 12 — 31. GoaDes: C-Roy.P-HeBotL 


AWSTRAUATOUR 

SO TEST. «tH DAT 
SOUTH AFRICA VS. AUSTRALIA 
MONDAY. IN PRETORIA. SOUTH AFRICA 
South Ahfcn: 384 and 32-2. 

AustraHa: 227 and 185 
South Africa won by etgfti wickets. Aus- 
tralia won the series. 2-1. 

■MIA TOOK 
MAY MATCH SO DAY 
BARBADOS VS. INDIA 
SUNDAY, M BRIDGETOWN. BARBADOS 
Barbados: 338-4 
lnrtta:210 


Pay Hill IwiunwML 

Rnol *00100 Swdoy al the dm t S mOBon 
Bey HK tnvftattonal on the 7^07-yord (8^24 
aretar), par-72 Bay H18 Ctufa and Lodge 
couraa In Oriando, Boride (US. union 
notea): 


Phil Mlckobon 
Stuort Appleby. Austr. 
Payne Stewart 
Maife O'Meara 
Omar Uresti 
MkhoM Bindley 
Loren Roberts 
Thn Herron 
Tiger ^ Woods 
Doric Love ill 


72- 65-7465-272 

73- 63-7469-275 
69-747467—276 

72- 666470-276 
69-67-69-71 — 276 
716469-68-277 
7467-7470-277 
74746671-277 
68-71-71-68-278 

73- 6467-70-278 


MIUIUIVIONA8 PBKHDLf 

SUNDAY, OWJRO. BOLIVIA 
BoOria 6 Jamaica 0 

PBBMCH FUAT DIV18IOM 

Coen 1. Marseille 0 

rien ■■■■ Monaco 62, Ports St Germain 
55. Nantes 51, Banieairx 54 Strasbourg 54 
Basita 49, Auvene 46, Metz 46. Lyon 44 
Guingafflp 44 Mareeflte 37, Monipeitter 17, 
Cannes 35. Le Havre 36 Rennes 3% Lens 33. 
Ulte 33, Coen 24 Nancy 24 Nice 19. 

IUUAM TOST MVUWM 
Roma 1. Bologna 1 

H» e mltaa i . l.Juwntti349.Z Parma 441 
inter 41. 4 Sompdorta 44 5. Bologna 39. 4 
Uizki 37, 7. Mllon 34 4 Roma 34 9. Atohmta 
35 14 Ffarenfiha 36 11. Vtcoran 36 12. Udl- 
nese 32. IX Napoo 32. 14 Ptocenzn 27. 15. 
Perugia 24 1 4 CagM 23. 1 7. Reggkma 1 4 1 4 
Verona 14 

Royo VdOetono 1 AllelfeB Madrid 2 
ttonlin Real Madrid 71. Barcelnno 62. 
Real Beils 62, Deportfvo Coruna 59, Aflettco 
Madrid SZ Real Sodedod 44 Atottfc Bilbao 
46 vanodotld 46 Tenerife 43. VoVenda 42, 
Racing SarHander41. Celta Vigo 35. Oviedo 35. 
Composteta 3X Zaragoeo 34 Sporting Gflon 3Z 
Extremoduro32.EzponyOl34RayoVDUecono 
34 Logrones 24 Sevflta 26 Hsraifes 2Z 


MAJOR LEAGUE SX— ALL 
AMERICAN LEAGUE 

baltimobe— Designated RHP Archie 
Corbin. LHP Rick Krtvda and C Cesar De- 
vore* to r assignment. 

Oakland— R etained INF Frank Catalan- 
otto to Detroit and RHP Winner Montoya ID 
Cleveland. 

Texas— R eleased OF Tom OMaliey. 
Added C Jell Tackett to the 40-man raster. 

Kansas cmr— Released LHP Juan Agasn. 

NATIONAL LEAGUE 

Houston— Released c Jeff Tackett. 

new vortK— Acquired INF Manny Afexon- 1 
dor and INF Scott McLcrin horn the Baltimore 
for RHP Hector Ramlrec. 

Philadelphia— A ssigned LHP Matt Beects 
RHP CaMn Modua 2B David Oasnr and IB 
Mika Robertson, waived OF Tony Langmirc. 

sah D/Eco-Extended Ihe contract of Bra- 
co Bochy, managsr. tlmugh 1999. with option 
for 2001. Acquired OF Mte Dorr and RHP 
Matt Skimetla ham Detroit 2B Jody Read. 

san PBANOSCo-WUved RHP Steven 
Bourgeois. 


NATIONAL BASKETBALL ASSOCIATION 

solder state— Signed G MeMn Booker. 
Waived C Mike PepkwskL 

AUALU— Activated C Alonzo Mourning from 
the Injured tat. 

Miami— S igned F Bruce Bowen. 

KtotoAU 

NATIONAL FOOTBALL LEAGUE 

ATLAH TA-61firwdTE Brian Ktatowskl to 1- 

DETRorT— Resigned CB Richard Woodley 
and OT Jett Jones. Signed LB Rkk HomB- 
lan. 

MiAMi-SlgnedTEWdtterReevestpalwo- 
yeor controd and agreed to torn* wtth WR 
LawrerKB Daersay on 2-yoar contract. 


















PAGE 22 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 25, 1997 


ART BUCHWALD 


Living With Sleaze 


W ASHINGTON — The 
political fund-raising 
scandals are starting to be felt 
around the country. Ail you 
have to do is say that you live 
in Washington, and you are 
suspect. 

I realized this recently when 
I was in Orange County, Cali- 
fornia, and complete strangers 
started calling 
me “sleaze- 
ball.” I was 
shocked and 
denied feat I 
knew anything 
about anything 
when it came to 
political finan- 
cing. One per- 
son wouldn't 
buy it and persisted, “What 
did you know, and when did 
you know it?” 

1 replied, “I knew some- 
thing was up when the Demo- 
cratic National Committee 
started to refund all the money 
they had raised. No party does 
that unless something is rotten 
in Indonesia.” 

“You live in Washington. 
You know that every politi- 
cian has his hand out You 
can't plead ignorance.” 

“You might think that, but 
a lot of us walk around the 
city with our eyes dosed. For 



example, we never see any 
lobbyists at night because 
they are always attending a 
fund-raising party. But there 
isn't that much to do in the 
nation's capital, so we never 
dreamed that they were at- 
tending parties to buy access 
to their politirians.” 

“Why didn't you know 
about fee coffee parties at the 
White House?” 

"You can’t see into the 
windows. I did notice Chinese 
people going in and out of fee 
Main Gate, but I assumed feat 
they were members of the 
Taiwan table tennis team.’ ’ 


Buchwald 


□ 


Beatles 9 Memorabilia 
Goes on the Block 


New York Tunes Service 


TOKYO — Collectors 
around fee globe bid for Paul 
McCartney's birth certificate, 
John Lennon’s cape and other 
Beatles memoraWia. 

At the auction, McCart- 
ney's bass guitar went for 
$202,955. fee birth certificate 
for $73,064 and Lennon's 
black velvet cape for 
$27,602. The auction's nearly 
300 lots sold for a total es- 
timated $1.46 million. 


“Weren't you suspicious 
when you heard that the vice 
president had made so many 
calls from the White House 
that he blew his cellular 
phone?” 

“No, I wasn't. I only began 
to wonder when he danced 
with a hundred Buddhist 
monks at the Reflecting Pool 
on the Mall — wearing a yel- 
low robe.” 

“Even if you didn’tsuspect 
fee Democrats, you must nave 
thought that the Republican 
Party was up to no good.” 

“Well, I did hear that con- 
gressman Dan Button, who 
heads up fee committee to in- 
vestigate fee Democratic fund- 
raising, was reported to have 
threatened fee U.S. lobbyist 
for Pakistan. The threat was 
that if the lobbyist didn't come 
across with a $5,000 contri- 
bution, Pakistan would never 
eat lunch in the House dining 
room again.” 


□ 


I said, * ‘Look, I know now, 
but I didn’t know about all fee 
sleaze until recently.” 

“What would you have 
done if you had known be- 
fore?” 

“I’d have written my con- 
gressman." 


For Export: The Sounds of the Cuban Soul 


By Peter Watrous 

New York Tima Service 


H avana — it’s 4 o’clock in 
the morning at what may be 
the best dance hall in fee world, 
Havana's La Tropical, and fee 
singer Issac Delgado, fee king of 
Cuban cool, is crooning in from of 
10,000 people. 

Manolin, el Medico de la SaJsa, 
the most popular singer in Havana 
right now. comes out to join him, 
and fee audience goes beyond eu- 
phoria, seeing two heroes on fee 
stage together. 

Everyone dances; everyone sings 
fee chorus of the song, and fee place 
seems as if it’s going to levitate wife 
the joy of the Cuban soul. And all 
this joy comes after four nights and 
five days of nonstop music called El 
Son Mbs Largo del Mundo (The 
Longest Sound in the World), a 
Cuban Woodstock that was part of 
the government’s first annual mu- 
sic-trade exposition this month. 


The weeklong exposition, the 
iCu 


Feria del Disco Cubano (fee Cuban 
Record Fair), brought to light fee 
changing relations between the Cu- 
ban government and capitalism and 
the rapid international growth of 
fee Cuban music industry. 

The government used this trade 
show to promote Cuba's music as 
both a cultural ambassador to the 
world and a way to earn badly 
needed American dollars — dollars 
kept from the country, is part, by 
fee U.S. embargo. 

Last year, 3.500 of Cuba's 
roughly 1 1 ,600 state-sponsored 
musicians performed abroad, rais- 
ing whai label executives say could 
run into the millions, though there 
are no figures available from fee 
government. 

News organizations and impres- 
arios from all over the world came 
to sample what the government was 
selling. Beyond fee trade expos- 
ition, the Cuban government has 
already begun taking cautious steps 
in entrepreneurship. It has signed a 
deal with Magic Music, a Spanish 
record company that specializes in 
Cuban music, to release “La Isla de 



Maim* Vtfbu/’nK l '""“ V*fc Timet 

Dancers and singers mix in the crowd at Havana’s La TropicaL 


la Musica,” a 41 -CD set of se- 
lections by Cuban musicians. 

The government is also inviting 
multinational companies to set up 
booths at next year’s exposition. 
And ir has given permission to 
Eduardo Bautista, president of So- 
ciedad General de Autores y Ed- 
i tores, the Spanish version of AS- 
CAP, based in Madrid, to set up an 
office here. 

“That they've let us set up an 
office can be read in all sorts of 
ways.” Bautista said. “But the 
most important is that it shows 
what’s happening to fee system 
here, feat the government is opening 
up more and more to fee outside.’ 

The exposition also provided a 


showcase for the government-run 
music education program that has 
contributed to the level of excel- 
lence displayed by fee dance bands, 
choral groups, classical ensembles, 
rap groups and folkioric ensembles 
feat performed. 

“If you’re a musician anywhere 
in Cuba, from an early age. you can 
go to music school.” said Alicia 
Perea, a classical pianist who is also 
president of fee Institute) Cubano de 
ia Musica, which oversees the en- 
tire Cuban music industry. “We 
don’t teach them just to play notes. 
They have to study philosophy, and 
literature and history along wife 
several instruments. 

“El Tosco, fee leader of fee 


group NG la Banda, is fee perfect 
example,” she continued. “I've 
played Bach wife him — he plays 
flute — and he’s an exceptional 
jazz musician, and he leads perhaps 

the hardest dance band in. Cuba. 

The free national music schools 
were started in 1 962, after fee Cu- 
ban revolution, and they were de- 
voted exclusively to training mu- 
sicians in fee European classical 
tradition. But in the late ’70s and 
fee early '80s, the curriculum was 
expanded to include jazz and Cu- 
ban music. The musical excellence 
that has flowered over the last 10 
years is a result of these schools. 

The world, except for fee United 
States, is catching on. Magic Mu- 
sic’s growth is doubling yearly, and 
one of its artists, Lucretia, who now 
lives io Spain, has been snapped up 
by MCA, fee multinational label. 
Another small label specializing in 
Cuban music. Can be Records, 
which is owned by a Spaniard but 
based in Panama, is reportedly on 
the brink of being bought by a large 
multinational record company. 

“The thing feat I’m worried 
about is that this invasion of foreign 
interest will fundamentally change 
the Cuban experiment, its idiosyn- 
crasies,” said Francis Cabezas. the 
president of Magic Music. ' ‘For all 
its problems, fee government here 
has supported the music in an ex- 
traordinary way, and while there 
may be problems, the system has 
created fee future.” 

That system involves total gov- 
ernment regulation. Musicians are 
government employees. A lesser- 
known band feat finds work in a 
local club, tor example, must go to 
the government to be paid. Bands 
with larger followings perform 
where the government tells them 
to. When bands perform abroad, 
fee government extracts up to 50 
percent of their earnings in fee form 
of a newly imposed tax. 

Musicians also complain about 
fee system for other reasons. El To- 
sco says he is overwhelmed by the 
amount of work NG la Banda gets. 
“It's like being in a prison of pop- 
ular music.” he said. “I have to play 


it to support my three children. I'd 
rather be playing serious music.”' 

The drummer Jose Sanchez says 
that although he plays fo r the pop- 
ular singer Rojisas. his earnings do 

not cover his living expenses. . 

i sir p many Cuban musicians. 
Sanchez moonlights to earn Amer- 
ican dollars, the only currency with 
real power in fee country. ‘ T teach 
students,” Ik said. “I chaise them 
dollars. Even Rojitas doesn traake 
much more than we do. When we 
go to Europe we make more, but 
not chai much.” 

Perea, fee bead of the music ul- 
stitute, is sympathetic toward their 


plight. 

“Socialism isn’t there to deny 


riches,” she said. “It’s there to 
distribute fee riches fairly. The 
problem is that we Cubans are very, 
very bad at making riches. Our 
distribution system is incompetent. 
We don’t know how to market 
‘But we’re learning. We have to 


because, for example, we don’t 
make basic things in Cul 


ba like violin 
strings or music papeT. which means 
we have to pay dollars for them.” 

In a country of profound ma- 
terial deprivation, where items 


from CDs to aspirins are virtually 


unknown to the average person, 
the things feat are free — language, 
movement, sensuality — become 
mythologically powerful The 
bands, steeped in European, Af- 
rican and American sensibilities, 
are some of the best dance groups 
in the world. 

In Cuba, even dance music, 
which has replaced fee more folky 
NuevaTrova style feat was popular 
during the '60s and '70s, is politi- 
cized. ■ 

“Intellectuals think that salsa is 
fee product of capitalism and is 
bad.” Cabezas, fee record label' 
head, said. “Those opposed to fee 
government think feat salsa is a 
product of communism and is bad. 
But the truth of fee matter is that 
salsa is a product of the people,' 
who want to hear it and dance to it 
and live by it Street music used to 
be mar ginalize d, but it’s not any- 
more.” 



PEOPLE 


Ojrktnpf Starfw/nk- AmocuIoI Pit»» 

Pierce Brosnan: Between the volcano and his second James Bond. 


T HE 17th annual ‘'Raspberries” 
spoof of fee Academy Awards 
“honored” actress Demi Moore and 
“Striptease” as the worst of 1996. 
“Striptease” won fee Razzie for worst 
picture, actress (Moore), screen couple 
(Moore and Burt Reynolds), director 
(Andrew Bergman), screenplay (Berg- 
man) and song (“Pussy. Pussy. Pussy, 
Whose Kitty Cat Are You?”). The 
Golden Raspberry Foundation declared 
the movie: “Demi Does Dullest.” The 
Razzies. on the eve of the Oscars, are a 
sort of Bronx cheer for Hollywood as 
celebs sink into fee season of self-ad- 
ulation. No stars ever show up to collect 
their $2.19 Razzie trophies, a golfball- 
size raspberry atop a film reel feat is 
painted gold. Moore had competition 
for her award — herself. She was tied in 
the worst actress category by her per- 
formance in “The Juror.” Other 
Golden Raspberry Awards: Tom 
Arnold in “Big Bully” and Pauly 
Shore in “Bio-Dome” tied for worst 
actor. Marlon Brando in “The Island 
of Dr. Moreau” was worst supporting 
acron Melanie Griffith in “Mulhol- 


land Falls” was worst supporting act- 
ress; and Pamela Anderson Lee in 
“Barb Wire” was worst new star. 
Meanwhile, a man who wrote a how-to 
book on crashing big events has been 
jailed for trying to sneak into fee site of 
fee Academy Awards in Los Angeles. 
Scott Kerman, 30. author of “Ail Sold 
Out! How to Sneak Into Sporting Events 
and Concerts,' ' was caught in the Shrine 
Auditorium lobby while a rehearsal was 
under way. Kerman, a comedian, had 
predicted in a news release feat he 
would infiltrate fee Oscars. He boasts 
feat he has sneaked into 300 sporting 
events, including 25 World Series 
games and five Super Bowls. He was 
booked for trespassing. 


— How to get a bonus whether you 
deserve one or noL ” Strauss said the ad 
“implied that if you win Lotto, you 
won't have to marry a fat woman. It 
makes every fat lady feel badly.” The 
suit, filed in January, seeks$l million in 
damages, but Strauss said she would 


settle for a public apology. Strauss, in 
30s, is 5 feet. 7 inches (1.7 


her early 

meters) tall and weighs 200 pounds (91 
kilograms). 


□ 


□ 


An obese model is suing state of- 
ficials this week over a New York State 
Lottery advertisement feat she claims 
insulted and ridiculed bigger women. 
Carolyn Strauss says she finds the 
wording of the lottery's advertising 
campaign offensive. The ad reads, 
“Many fee client's big-boned daughter 


Pierce Brosnan says his son prefers 
his new volcano movie. “Dante’s 
Peak.” to his first James Bond film. 
But maybe fee second time will be the 
charm. Brosnan has arrived in Germany 
to start filming the ISth Bond flick, 
“Tomorrow Never Dies,” due for re- 
lease at Christmas. At a press confer- 
ence. Brosnan talked mostly about 
“Dante's Peak,” in which he plays a 
volcanologist whom no one will listen 
to when he warns of catastrophe. 
Brosnan said his son Sean, 1 3. preferred 
it to 1995's “Goldeneye” and “gave it 
two thumbs up.” 


It's been five decades since George 
Bush had to leap out of aplane- Now the 
former president is doing it os purpose. 
Bush, 72, plans to parachute at the 
Yuma, Arizona, Proving Ground on 
Tuesday wife members of fee Golden 
Knights, the Army’s precision para- 
chuting team. Bush will jump- from 
12^00 feet (3,750 meters). He received 
fee Distinguished Flying Cross for 
bravery after his torpedo plane was shot 
down over the Pacific by the Japanese in 
1944. 


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□ 


The Irish playwright Oscar Wilde, 
who died in 1900 penniless and in dis- 
grace for his homosexuality, is suddenly 
everywhere in Britain, with both stage 
and screen adaptations celebrating his 
short life. Simon Callow has opened to 
rave reviews in London with his one- 
man show, “The Importance of Being,' 
Oscar,’ ' while Stephen Fry is filming a 
biography of the writer, who once said: - 
“There is only one thing worse than! 
being talked about and that is not being' 
talked about.” 


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