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no 100*7. 




Herald 


INTERNATIONAL 


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PUBLISHED WITH THE NEW YORK TIMES AND THE 


The World’s Daily Newspaper 


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Paris, Wednesday, March 26, 1997 





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KINSHASA. Zaire — President Mobutu Sese Seko's party 
said Tuesday that it was ready to “share power” with Laurent 
Desire Kabila’s rebels before elections. 

We shall meet and, after dialogue, we will share power,” 
Banza Mukalayi. deputy chairman of Marshal Mobutu's 
party, the Popular Revolutionary Movement, told Reuters in 
Kinshasa. 

“First, we will talk to find the mechanism for a cease-fire and 
then we will share power before elections,” Mr. Banza said. 

His comments went much further than previous signs that 
Marsha] Mobutu and bis party were ready to come to a deal 
with Mr. Kabila's advancing rebels. 

Meanwhile, in Brazzaville, up to 1.000 Western troops 
were in position around the Congo capital's airport Tuesday 
ready to evacuate foreign nationals from neighboring Zaire in 
an operation Mr. Kabila condemned as a “threat to peace.” 

Air. Kabila, speaking from the rebel-held town of Kisan- 
gani in eastern Zaire, said the Western buildup was a “neo- 
colonial” attempt at intimidation of his rebellion, which now 
controls about a quarter of Zaire. 

Some 550 Belgian paratroopers, who left Belgium on 
Monday, are now installed alongside 150 U.S. soldiers and 
250 French Foreign Legionnaires, witnesses said. 

Brazzaville faces Kinshasa across the Congo River and 
would be a staging post for an evacuation of 3,000 foreign 
nationals from the Zairian capital should this prove nec- 
essary. 

U.S. Defense Secretary William Cohen has already said the 
United States could increase its contingent to 600. The aircraft 


Ex-envoy to France on trial for traffic deaths. Page 8. 



\-- 


i _• 51- 


carrier Nassau, which took part in the evacuation of U.S. 
nationals from Albania, was reported Monday to be heading 
for the West African coast. 

The French Foreign Ministry said earlier that the buildup 
was “solely and strictly destined for possible evacuation of 
expatriates from Zaire." 

In Washington, the French defense minister, Charles Mil- 
Ion, said Tuesday that the United States and France were 
trying to aid a peace agreement in Zaire. 

“Yes, there is a common U.S.-French approach as far as 
trying to reach peace and achieve a positive change, change 
toward stability in Zaire,” Mr. Millon said before a meeting 
with Mr. Cohen. 

‘ ‘The U.S. and France are coordinating their diplomacy so 
that Kabila and Mobutu can reach an agreement on a govern- 
ment that will satisfy what the people expect from it,” Mr. 
Millon said through an interpreter. 

U.S. and French officials on Tuesday confirmed the ex- 
istent* of a joint diplomatic demarche on Zaire, undertaken . 
before the Organization of African Unity meeting Wed- 
nesday. 

They said their ambassadors had called on government 
officials in about 30 African countries on Monday and 
Tuesday to support a cease-fire in Zaire and talks between the 
government and rebels there. 

Spokesmen at both the French Embassy and the State 
Department said that a report Monday that quoted a White 
House spokesman as denying the existence of such a de- 
marche was based on a misunderstanding. (Reuters. AFP) 


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Prime Minister Li Peng raising his glass in Beijing In a toast Tuesday to a series of 
China- U trade agreements while Vice President AJ Gore seemed slow to respond. 


Li and Gore Pledge Closer Ties 

Fund-Raising Charges No Blot on Relations, They Say 


By John F. Harris 

Washington Post Semce 


BELONG — Prime Minister Li Peng and Vice 
President AI Gore said Tuesday that recent ef- 
forts to improve Chinese-U.S. relations would 
not.be disturbed by allegations that Beijing may 
have tried to buy influence in Washington with 
illegal campaign contributions. 

Mr. Li brought up the controversy, which is 
among the touchiest of subjects with senior 
officials in both capitals, in a meeting with Mr. 
Gore. 

Hie U.S. vice president interjected that “the 
matter is being investigated” but pledged that 
“this in no way would deflect the administration 
from pursuing its policy of engagement with 
China." 


Mr. Li responded by repeating his govern- 
ment’s earlier denials that it did not try to funnel 
money secretly last year into the congressional 
and presidential elections — a suspicion that is 
under investigation by the FBI. The prime min- 
ister also offered his assurance, according to Mr. 
Gore, that China would not let the uproar disrupt 
his plans for a closer partnership with the United 
States. 

Ln a statement later, the Beijing government 
did not directly address the contributions affair, 
but noted obliquely that its policy toward Wash- 
ington “will not be disturbed by a single act or 
by a short period of time.” 

Just as Mr. Gore and Mr. Li sought to contain 
the damage from this new strain in the U.S.- 


See GORE, Page 4 


U.S. Interest Rate 


Is Nudged Upward 

Fed Aims for V4 -Point Increase; 
Markets Stretch, Then Yawn 


By Mitchell Martin 

International Herald Tribune 


NEW YORK — Having primed Wall 
Street with warnings for more than three 
months, the U.S. central bank raised its 
target for short-term interest Tates on 
Tuesday, a preventive move against in- 
flation that raised some concerns about 
American economic growth. 

Although the move was expected, 
investors were concerned about the pos- 
sibility of further interest-rate increases, 
given the Federal Reserve Board’s his- 
tory of moving in several small steps 
rather than single actions. Stocks, bonds 
and the dollar gyrated after the move but 
were showing Little change for the day. 

After a meeting of the policy-setting 
Federal Open Market Committee, the 
board said it had decided to “tighten 
money-market conditions slightly, ex- 


pecting the federal funds rale to rise 'A 
percentage point, to around 5Vi per- 
cent." 

"This action.” the board continued, 
“was taken in lighr of persisting 
strength in demand, which is progress- 
ively increasing the risk of inflationary 
imbalances developing in the economy 
that would eventually undermine the 
long expansion.” 

The federal funds rate is charged on 
overnight loans among U.S. banks. The 
central bank does nor directly set the 
rate, but its announcement of a target 
and its activities in the short-term 
money markets influence commercial 
banks' overnight charges, which set a 
floor for other American interest rates. 
The Fed noted that its discount rate, 
which the bank does specify and which 


See RATES, Page 12 


No Doubt , Says Mr. Yen 9 


Japan’s On the Upswing 

Point Man on the Economy Sheds His Gloom 


By Velisarios Kattoulas 

International Herald Tribune 


z.:i\ 




Albright Puts Women’s Rights at Top of Agenda 


TOKYO — Yes. the mood in Tokyo 
is gloomy, concedes Mr. Yen, but that 
gloom is misplaced. 

The Japanese economy is on the 
mend for real this time, says Eisuke 
Sakakibara, one of the most powerful 
bureaucrats in a nation of powerful bu- 
reaucrats. 

Mr. Sakakibara is known as "Mr. 
Yen” here for his role in helping drive 
down the yen’s value from its historic 
highs against the dollar to the current 
export-friendly levels dial have helped 
revive Japan’s trade prowess. 

For months, he has been delivering 
the message that the Japanese economy 
was stronger than thought. Suddenly, he 
doesn’t look so alone. Moves to de- 
regulate the financial markets, upbeat 
economic data and independent ana- 
lysts are cooperating to paint a picture of 
an economy on the mend. 

"There is excess pessimism in 
Tokyo, what I call irrational negative 
exuberance,” Mr. Sakakibara said 


Tuesday in an interview, parodying the 
tairman of i 


By Thomas W. Lippraan 

Washington post Service 


WASHINGTON — Secretary of 
State Madeleine Albright has instructed 
U.S. diplomats to make the furtherance 
of women 's rights one priority of Amer- 
ican foreign policy. 

The administration has been active in 
this field in a variety of ways: In 
Pakistan, the State Department contrib- 
uted funds to a volunteer group running 


a school for girl refugees from Afghan- 
istan. In Namibia, tire U.S. Embassy 
used its entire discretionary fund to fi- 
nance community efforts to combat 
sexual violence against women. 

And in North Carolina on Tuesday, 
Mrs. Albrigjht was scheduled to venture 
into Jesse Helms country to call on the 
Senate to ratify a 1979 United Nations 
convention to fight discrimination 
against women — a treaty that Mr. 
Helms, chairman of the Senate Foreign 


Relations Committee, will not support. 

“Advancing the status of women is 
not only a moral imperative, it is being 
actively integrated into the foreign 
policy of the United States." Mrs. Al- 
bright said at an International Women's 
Day ceremony at the State Department 
on March 12. "It is our mission, it is the 
right thing to do and frankly it is the 
smart thing ro do.” 

The State Department said Mrs. Al- 
bright “has instructed all U.S. embassies 


abroad to consider the advancement of 
women’s human rights as an integral 
objective of U.S. Foreign policy.” 

One Stare Department official said: 
“We're upping the profile on this issue, 
but it’s not going to start trumping other 
considerations.” 

Regan Ralph, who monitors wo- 
men's issues for Human Rights Watch, 
said: “The Department of State and the 


See POLICY, Page S 


phrase coined by the chairman of the 
U.S. Federal Reserve Board, Alan 
Greenspan. Mr. Greenspan caused Wall 
Street prices to tumble earlier this year 
when he warned that soaring share 
prices reflected “irrational exuber- 
ance.” 

“I do not see any major weakness in 
the Japanese economy.” Mr. 
Sakakibara said. "So I think this pes- 
simism is groundless to a substantial 
degree and quite irrational. I am not 
saying that the recovery is very robust 
bur that it is proceeding steadily.” 

Mr. Sakakibara is director-general of 


the Finance Ministry’s International Fi- 
nance Bureau. But in trading rooms and 
boardrooms around the globe, his voice 
is more powerful than that of many of 
his superiors because of the influence 
his words have had in the foreign cur- 
rency markets. He said in the interview 
that despite imminent tax increases, the 
Japanese economy was in the midst of 
significant structural changes and was 
poised for steady recovery based on 
strong domestic growth. 

He denied that Japan would attempt 
to rekindle growth through exports. 

To illustrate the strength of the econ- 
omy, Mr. Sakakibara pointed to data 
released earlier this month by the Eco- 
nomic Planning Agency. On March 13, 
it announced that Japan grew at an an- 
nual rate of 3.9 percent in the last three 
months of 1996. For the calendar year, 
growth was 3.6 percent, Japan's highest 
growth rate since 1991 when it expand- 
ed 3.8 percent, the agency said. 

In the fiscal year ending March 31, 
the country’s growth rate should reach 
at least 2.5 percent, probably the 
strongest expansion among the world's 
industrialized nations, Mr. Sakakibara 
said The United States is expected to 
achieve growth of 2.4 percent. 

Hopes for a big recovery in consumer 
spending lifted Tokyo stocks Tuesday. 
They rose 2.19 percent after Finance 
Minister Hiroshi Mitsuzuka back- 
tracked on comments he made Monday 
suggesting that consumers could be hit 
with another increase in the consump- 
tion tax. It is slated to rise from 3 percent 
to 5 percent April 1. On Monday, the 
Nikkei index fell more than 3 percent 
after Mr. Mitsuzuka' s comments. 


See MR. YEN, Page 4 


Cross-Border EU Politics 

If Message Falls Short at Home, Try Abroad 


By Tom Bueride 

International Herald Tribune 


i 


BRUSSELS — Prime Minister John 
Major of Britain comes to the capital of 
Europe to tell a crowd of businessmen 
and bureaucrats that rigid European 
Union labor regulations are to blame for 
the Continent’s sluggish growth and 
mass unemployment. 

Prime Minister Romano Prodi travels 
to Frankfurt and Munich to press Italy's 
campaign for inclusion in a single cur- 
rency wah the electorate that really mat- 
ters — the German public. _ , 

Foreign Minis ter Malcolm Rifkind 
goes on a speaking tour of European 
capitals to promote Britain's vision of a 
Europe of cooperating, independent na- 
tion States, rather than a centralized su- 
perstate. with ever-more -common 

policies. . . 

Europe's politicians are on the hust- 
ings these days, and as these recent 
events show, the campaigning more and 


more is taking them outside their own 
countries. 

The cross-border politicking may ap- 
pear at odds with the widespread public 
skepticism toward the Union, which 
many Europeans blame for budgetary 
austerity, high unemployment and in- 
ability to deal with crises like the chaos 
in Albania. 

But it reflects the vital importance for 
each of the European Union's 15 mem- 
bers of i mmin ent decisions on a single 
currency, EU reform and enlargement 
into Eastern Europe. 

Those developments promise to re- 
place the national currencies now used 
by 370 million people, redirect tens of 
billions of dollars of EU aid and give big 
countries tike Germany and France 
greater control over EU policy at the 
expense of Firms, Luxembourgers and 
residents of other small countries. 

“Key policy matters for the future are 


See EUROPE, Page 8 





Newsstand Prices 


Andorra 10.00 FF 

Antaes 12.50 FF 

Cameroon,/! .600 CFA 

Egypt.! ; EE 550 

Ftance 10.00 FF 

Gabon 1100 CFA 

»aly- .£800 Lire 

Ivory Coast-1250 CFA 

Jordan..... 1550 JO 

Ubanoo...— U. 3,000 


Morocco - 16 Oh 

Qafir 10.00 Rials 

Reunion 12.50 FF 

Saudi Arabia—lO-OO R. 

Senegal 1.100 CFA 

Spain— 525PTAS 


Tunisia 1550 Din 

UAE 1CL00DW1 

U.S. Mfl. (Eur-1^4150 



The Dollar 


New York . Tuasttev 8 • P.M. prewawa 


DM 

Pound 


1.6898 


1.6868 


1.6195 


1.6185 


Yen 


123.715 


122.89 


5.6935 



-29.08 


6876.17 


690555 


S&P 500 


change Tuwday a « P ravioti3cfose 


-1.82 


789.07 


790.89 


AGENDA 


EU and U.S. Edge Closer 
To Accord on Cuba Ban 


The United States and the European Union have 
made progress toward resolving their differences 
over trade policy on Cuba in hopes of stopping the 
dispute from going to the world Trade Orga- 
nization, senior officials said Tuesday. 

The news of progress on the issue followed 
more than four hours of talks here Monday 
between Stuart Eizenstat, the U.S. special envoy 
on Cuba policy, and Sir Leon Brittan, the EU 
trade commissioner. 

“We have a better understanding of each oth- 
er's needs and ideas,” Mr. Eizenstat said. “There 
are still significant hurdles, but progress has been 
made." Page H. 


‘’English Patient 9 Conquers 


"The English Patient” dominated the 69th 
Academy Awards in Los Angeles, winning nine 
Oscars, including best picture. Geoffrey Rush 
won best actor for his role as a troubled pianist in 
“Shine,” and Fiances McDormand was chosen 
best actress for her portrayal of a pregnant police 
chief in “Fargo." Page 24. 


PAGE TWO 

The 30-Year Mystery of Thailand’s Silk King 


EUROPE Pag»5. 

Russian Regions Grow Ever More Independent 


Books 

Crossword 

Page 7. 

Page 9. 


Pases 22-23. 

r " 

Sponsored Section 

Pages 17-20. 

BUILT FOR BUSINESS: BANGLADESH 

International Classttfott 

Page 15. 

| The IHT on-line 

http://v;ww.ihl.ccun | 



ON THE MARCH — Steelworkers from 
Thyssen protesting in Frankfurt on Tues- 
day alter union officials said the company’s 
plan to merge with rival Krupp would 
result in the closing of a plant Page 11. 


Germans Growling 

Labor Leader Warns of Trouble 
If Social Spending Cuts Persist 


By Alan Friedman 

International Herald Tribune 


PARIS — Germany’s leading trade union federation said 
Tuesday it would stage mass protests if the government of 
Chancellor Helmut Kohl did not back down on plans to cut 
social spending as part of its drive to meet Europe’s single 
currency conditions. 


Ursula Engelen-Kefer, deputy secretary-general of the 
Unions, on Tuesday accused 


Federation of German Trade 
Finance Minister Theo Waigel of “digging a grave for 
Europe’s single currency project” She also warned in ah 
interview that scattered wildcat strikes by coal miners and 
building workers could soon multiply across Germany if 
Bonn did not alter its policies. 

*T think we are at a breaking point” she said 

The union leader, who is also a member of the governing 
council of the opposition Social Democratic Party, termed 
Mr. Wai gel's pro posed social spending cuts “irresponsible.” 
Among the kinds of cuts being considered are reductions in 
payments made by municipalities or state governments for 
people below the officially staled poverty line. 

Mrs. Engelen-Kefer said that if the government insisted on 
going ahead with the cuts, ‘ ‘then we will increase our protests 
on a nationwide basis and also on a regional and local level, 
together with our allies including the churches, social welfare 
institutions, and political parties such as the Social Democrats 
and the Greens.” 

"We are not making cuts because of the euro, but in our 
own interest." said Barbara Eckrich, a spokeswoman for Mr. 
Waigel in Bonn, referring to the European single currency. 
“All national and international experience show that fiscal 
consolidation is needed to sustain low-inflation growth and to 
create new jobs." 

Also in Bonn. Dieter Hundt, president of the Association of 


German Employers, gave his support Tuesday to Mr. 
Waigel's proposed reform of social spending, sayii 


saying that 

current programs were so generous that they constituted a 
disincentive to job seekers. 


See LABOR, Page 8 



~ ; 



PAGE 3 





INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


PAGE TWO 


The Silk Magnate Mystery / 30 -Year Puzzle 


The Disappearance 
Of Jim Thompson 


By Michael Richardson, 

Inurnanonal Herald Tribune 


B ANGKOK — When Jim Thompson dis- 
appeared in (he Cameron Highlands of 
Malaysia 30 years ago this week, those 
who knew him well did not expect him to 
be missing for long. 

The- American silk merchant was just a few days 


past his 61st birthday, in reasonable physical con- 
mown for bis stamina in building a 


dition and known 
successful business from scratch in the steamy 
tropical heat of Thailand. 


was thought at first that he had become lost on 
a walk in the jungle. When he took time off from his 
Bangkok business he often went on long explor- 
atory hikes in the countryside. 

When he disappeared on Easter Sunday March 
26, 1 967, Mr. Thompson was one of the best known 
foreigners in Southeast Asia, especially to Amer- 
icans. Theories and rumors abound, but no con- 
clusive evidence has ever surfaced to explain how 
and why he vanished, or what happened to him. 

So die mystery lives on, as does bis spirit, through 
his silk business and his house in Bangkok, with its 
collection of antiques and verdant garden. 

By die time of his disappearance, the hand- 
woven silk fabrics that bis company commissioned 
and designed had gained international acclaim for 
their quality and shimmering, exotic colors. They 
caught the eye of U.S. fashion and home decorating 
magazines. An American costume designer, Irene 
Sharaff, chose the material for the stage version of 
“The King and I' ' and worked with Mr. Thompson 
on the designs. 

Queen Sirikit of Thailand had Pierre Balmain 
design her wardrobe using Mr. Thompson’s silks, 
and she even presented several bolts of his finest 
gold brocade to Queen Elizabeth II of Britain. 


in 1948 — now known as the Jim Thompson Thai 
Silk Company — continued to grow and flourish. 

In World War EL Mr. Thompson worked for the 
Office of Strategic Services — the forerunner of the 
Central Intelligence Agency. Near the end of the 
war, he was assigned to a group to be parachuted 
into Thailand. That secret mission never took place, 
but he next undertook a strenuous jungle-survival 
course in Sri Lanka (then called Ceylon) that was 
designed to teach people how to take care of them- 
selves for weeks in a tropical forest 

He arrived in Bangkok in 1945, after the Japanese 
surrender, as an officer with the U.S. armed forces. 
“I do love the color and general confusion of the Far 
East" he wrote not long after leaving the military. 
“There is so much to see and learn out here." 

Of his newfound interest in reviving the Thai silk 


industry and promoting its 
products in America and else- 
where, be said the work was like 
that of "a missionary, but with 
better visual results.” 

Bangkok moved to very dif- 
ferent rhythms then than it does 
today, with its traffic jams, pol- 
lution and frenetic pace. On land, 
people traveled by foot or took a 
samloh, a pedicab whose pro- 
gress was marked by tinkling 
bells. But most of the traffic went 
by water along one of the city’s 
many canals, or klongs. 

As his silk business prospered, 

Mr. Thompson could afford to 
build a house along one of the few 
klong still used for water trans- 
port. He would often invite 
mends and visitors for dinner on 
the terrace, regaling them with 
stories about his work and travel. 

The mystery surrounding his 
disappearance in Malaysia only 
added to the Thompson legend. 

He was declared legally dead in 
1974 after the seven-year period 
required by Thai law. 

There is speculation that he 
was on a mission for the CIA, that 
he was kidnaped by Co mmunis t 
guerrillas who were reported to 
be active in that part of the Malaysian jungle, that he 
was involved in a planned coup in Thailand that 
went wrong or that he was a victim of machinations 
within the silk industry here. 

One plausible explanation is that he went for a walk 
in the jungle, got into difficulties and died there. 



Bin H^ri rb/lim Thoopm SHi C ompan y 


Jim Thompson, an American in Thailand, on 
the terrace of his home in Bangkok shortly before 
he vanished in Malaysia 30 years ago. 


C 


HARLES SHEFFIELD, who succeeded 
Mr. Thompson as managing director of the 
Thai Silk Company, said he believed his 
colleague had an accident. A heavy smoker, 
Mr. Thompson was susceptible to bronchial dis- 
orders and in the year before he vanished had 
suffered from a number of painful gallstone attacks. 

A search — which at its height involved 300 
people, including aboriginal trackers, the Malay 
Police Field Force, a detachment of Ghurkas ana 
U.S. Army helicopters with tracking equipment — 
found nothing clearly related to his disappearance. 

Helen Lying, an antiques dealer in Singapore who 
invited Mr. Thompson to stay with her and her 
husband at their cottage in the Cameron Highlands, 
said in an interview in 1974 that she heard him leave 
the house on that Sunday for what she thought was a 


mid-afternoon walk while she and her house guests 
were talcing a nap. But she said that at a picnic lunch 
beforehand Mr. Thompson “appeared nervous, 
which was very unusual for him, and he seemed 
anxious to get back early. Who knows why?" 

Was it because he had a secret meeting arranged 
at a precise time that afternoon? 

Even Mr. Thompson's biographer, William War- 
ren, an American in Bangkok, seems to have few 
solid clues. He believes that Mr. Thompson was 
“either kidnapped, for ransom or political purposes, 
or he did away with himself or he was the victim of 
some possibly simple accident” 

When he arrived in Bangkok at the end of World 
War II. the silk industry in Thailand appeared to be 
dying. Cheaper fabrics from Japan and the West 
were driving traditional weavers out of business. 

Mr. Warren said it took Mr. Thompson “years of 
experiment frequent frustration and plain hard 
work, first to persuade a handful of remaining 
weavers to increase production on better looms, 
using color-fast chemical dyes instead of traditional 
vegetable colors, and then to open up vital foreign 
markets where none had existed before.” 


Haiti’s Surge of Violence Stirs Up Fear of Chaos 


By Larry Rohter 

New York Times Service 


PORT-AU-PRINCE, Haiti — With 
an election just two weeks away, Haiti is 
confronting another outburst of vio- 
lence. The unsolved attacks have 
shaken confidence in the new, Amer- 
ican-trained National Police and in the 
ability of President Rene Preval’s gov- 
ernment to provide security for the in- 
creasingly frustrated and fearful pop- 
ulation. 

Since mid-February, more than 50 
people have been killed in incidents 
whose origins remain unclear. Six po- 
lice officers are among the dead, along 
with the security chief for the Justice 
Ministry, a well-known businessman 
and the chauffeur of a senator who was 
himself wounded in the same attack. 

The violence began with battles be- 
tween rival gangs of drug dealers and 
traffickers in Cite Soleil, a sprawling 
slum in Port-au-Prince with more than ' 
200,000 residents. At least 18 people 
were killed in those clashes, which have 
been followed by attacks by armed gun- 
men in more upscale areas and by in- 
cidents in which the police have killed 
innocent bystanders or people fleeing 
crime scenes. 

‘Ts the climate of insecurity becom- 
ing a climate of terror?" the newspaper 
Le Nouvelliste asked in a recent ed- 
itorial. "The specter of Haiti turning 
into a sort of Somalia has shown itself to 
be a real possibility.” 

There have also been complaints that 
the United Nations mission here, greatly 
reduced in size since 23,000 American 
troops restored Jean-Bertrand Aristide, 


Mr. Preval’s predecessor, to power in 
October 1994, is not doing enough, pie 
mission continues to provide technical 
support and training to Haitian police. 
UN officials have urged calm and say 
that some of the concerns are exag- 
gerated. 

“We’re going through a bad patch 
right now," Enrique ter Horst, director 
of the UN mission in Haiti, acknow- 
ledged in an interview. But he described 
the situation as “exceptional and tem- 
porary." saying “political stability is 
not in danger” and calling for ' ‘a sense 
of perspective." 

As is often the case, it is not clear 
whether the attacks have been carried 
out for political reasons, are ordinary 
dimes or are a mixture of the two. “It is 
hard to explain the spikes of violence 
that occur from time to time,” said the 
U.S. ambassador, William Swing. 

Mr. Swing suggested that “a good 


deal of it reflects the economy," which 
has failed to provide jobs or the growth 
people expected after Mr. Aristide’s re- 
turn to power. Haitian officials also 
have pointed to Senate and municipal 
elections due April 6, which they say 
have set off partisan disputes in the 
countryside. 

“Elections fan local struggles for 
power, above all for control of the local 
councils," said Prime Minister Rosny 
Smarth. In addition, said Kely Bastien, 
speaker of the lower house of Parlia- 
ment, ‘ ‘It is possible that people who are 
boycotting the elections don't want 
them to happen." 

Twice this year, leftist splinter groups 
claiming to support Mr. Aristide and to 
oppose Mr. Preval’s program of privat- 
izing state-owned companies have 
called general strikes in the capital. The 
latest effort, less successful than an 
earlier one in January, was Thursday. 


U. Alexis Johnson, 88, U.S. Ex-Envoy, Dies 


The Associated Press 

RALEIGH, North Carolina — U. 
Alexis Johnson, 88, an ambassador, un- 
dersecretary of state and chief nego- 
tiator during the SALT talks, died of 
pneumonia here Monday. 

Mr. Johnson retired in 1977 after a 
42-year foreign service career that in- 
cluded stints as ambassador to Japan. 
Czechoslovakia and Thailand. 

Bom in Falun, Kansas, Mr. Johnson 
joined the Foreign Service in 1935. 
After World War n, he served as U.S. 


consul in the Philippines and in Japan. 
He later was deputy assistant secretary 
of state for Far Eastern affairs. 

He was ambassador to Japan from 
1966 to 1969 before his appointment as 
deputy undersecretary for political af- 
fairs from 1969 to 1973. For the next 
four yeais, he was chief of the U.S. 
delegation at the SALT talks aimed at 
reaching a strategic arms limitation pact 
with the former Soviet Union. 

After his retirement, Mr. Johnson was 
a consultant to the State Department and 


wrote a memoir. “The Right Hand of 
Power," published in 1984, 


Roberto Armijo, 59, a poet and play- 
wright who was a prominent political 
activist in El Salvador's leftist move- 
ment. died of cancer Monday in Paris, 
where he had lived since 1970. 


Dan Wallace, 66, an American in- 
ternational businessman well known in 
the United States. Britain, China and 
Japan, died March 18 in Washington of 
complications related to heart surgery. 


Mideast Peace Process 
Faces Its Worst Crisis 



By Barton Gellman 

flfoi chingion Post Service 


TEL AVIV — The historic exper- 
iment in Israeli-Palestinian peace, 
briefly buoyed by the Hebron deal m 
January, how appears to be in the worst, 
trouble since the two sides reached mu- 
tual recognition in September 1 993. 

Both halves of the grand bargain out- 
fined then — security and legitimization 
for Israel, land and power for Pales- 
tinians — are now in doubt And al- 
though the bloodshed that has resumed 
does not approach the scale of an out- 
burst of gun battles six months ago, the 
gap between the parties is wider now. 

It is not only the poisonous conflu- 
ence of Friday’s suicide bombing here 
and Israel’s decision to send bulldozers 
without negotiation into a historically 
Arab section of East Jerusalem. What 
really worries intermediaries in die sus- 
pended peace talks — and has them 
speaking of a cycle of decline in a 
process they once described as irre- 
versible — is that each side is firmly 
rebuffing the other’s highest priority 
demands. 

“I think we're hanging by a thin 
thread," said Edward Abington, the 
U.S. consul general in Jerusalem and 
chief diplomatic contact with Yasser 
Arafat’s Palestinian Authority. “I per- 
sonally rhinlc the situation is more dan- 
gerous than it was a year ago after the 
four bombings,’ ’ which killed 59 people 
in February and March. 

Palestinians now universally believe 
that foe government of Prime Minister 
Benjamin Netanyahu intends to halt the 
transfer of territory and power to their 
hands. Even in foe sober rhetoric of bis 
prime ministry, leaving the years in 
opposition aside, Mr. Netanyahu has 
said repeatedly that there can be no 
compromise on Jerusalem, no room for 
an independent Palestinian state and 
little likelihood he will agree to turn 
over even half of foe West Bank to 
Palestinian rule. 

After alternately fearing Mr. Netan- 
yahu meant what tie said and dismissing 
it as bargaining leverage, Mr. Arafat 
now seems to be convinced. The turning 
points came in two decisions in which 
Mr. Netanyahu's government made a 
point of refusing to negotiate while act- 


was to build a new neighboihood railed 
Har Homa, with housing for 30.000 
Jews, on a long-disputed site that Arabs 
call Jabal Abu Gheneiifl- Here again, 
although Israel had pledged to negotiate 
Jerusalem’s future m the next phase of 
the peace talks, Mr. Netanyahu .neither 
commenced those overdue talks nor dis- 
eased the new development with Mr. 
Arafat. The bulldozers began wofle a 
week ago. 

In each case Israel has a legal ar- 
gument to explain why it need not ne. 
gotiate, and in each case the Palestinians 
have a legal counterclaim. 


NEWS ANALYSIS 


But the Oslo accords, as the three^ 
year paper trail of interim agreements 
between Israel and foe Palestine. Libf 
eration Organization is called, never 
worked like contracts. 1 

They are full of deliberately murky 
language, and even those obligations 
that are precise have gone as often as not 
unfulfill ed by either side. 

What kept the process going was a 
sense of shared enterprise that dimin- 
ished with the ascent to power- of a 
government convinced that the accords 
were, as Mr. Netanyahu said, “a tragic 
mistake," and a “knife in the bade of 
Israel.” 

Debate rages, meanwhile; - over 
whether Mr. Arafat gave a “green 
light” to Friday’s suicide bombing that 
killed three Israelis in Tel Aviv. What- 
ever the truth of the accusation, there 
seems little doubt be released important 
military operatives of Islamic extremist 
groups from jail. . * 

So Mr. Arafat appears to be sending 
the message that if Israel tries to dictate 
terms, Palestinians will resist 


Netanyahu 
And Arafat 
Hint at Talks 


ing to change foe status quo on ques- 
tions central to the Israeli-1 


and was accompanied by threats of re- 
tribution against those who failed to 
comply with the call. 

Flyers distributed around the capital 
warned that * ‘anything that moves, be it 
a mouse or a feather, will be shot to 
smithereens.’] Most schools and busi- 
nesses remained closed and many 
people stayed in their homes. 

In an interview, Mr. Smarth, who 
faces a vote of confidence in Parliament, 
dismissed the importance of such 
threats, attributing them to "groups that 
do not have public support, cannot mo- 
bilize anyone, and so have turned to 
intimidation." 

Whatever its source, foe violence has 
revived concerns about the ability of 
Haiti's poorly trained and inexperi- 
enced police force to maintain public 
order. Many Haitians express irritation 
with the pwlice, calling them brutal, 
corrupt and imperious. 


-Palestinian 

negotiations. 

One concerned foe first of three 
promised Israeli withdrawals from the 
West Bank, an obligation under an in- 
terim pact signed 18 months ago. By the 
end of the three withdrawals, die agree- 
ment said, Israel would hold only “spe- 
cified military areas.” Palestinians in- 
terpreted that to mean that they would 
receive about" 90 percent of foe West 
Bank, while Israelis of all parties tended 
to expect to keep more than 10 per- 
cent. 

But Mr. Netanyahu's government 
also insisted that the extent of its with- 
drawals, called “further redeploy- 
ments’* in foe accord, were not subject 
to negotiation or even discussion with 
Mr. Arafat Where his predecessors 
would have tried to soften the argument 
and work out a package deal, Mr. Net- 
anyahu wanted to force Mr. Arafat as 
he said, to "adjust his expectations’’ 
under the new government's harder 
line. 

Thus did Mr. Netanyahu telephone 
foe U.S. ambassador, Martin Indyk. 
three times from the marathon cabinet 
meeting that decided on the size of the 
withdrawal. He was looking, an Amer- 
ican official said later, for a “kosher 
certificate” from the United States. But 
he never allowed any member of his 
government to discuss foe matter with a 
Palestinian. 

In the end, the cabinet decided to cede 
to Palestinian rule only 2 percent of the 
Israeli-held West Bank, which was cap- 
tured by Israel in the 1967 Middle East 
war. An additional 7 percent was to be 
transferred from partial to full Pales- 
tinian control, but Israelis and Pales- 
tinians alike already counted that as Mr. 
Arafat's in the unfolding map of the 
would-be Palestine. 

"Two percent! Great!" Mr. Arafat 
declaimed angrily in a recent speech 
before the Palestinian legislative coun- 
cil. “Does he think I am an idiot? Does 
he think I am drooling?” 

Mr. Netanyahu’s second decision 


Reuters 

JERUSALEM — Prime Minister 
Benjamin Netanyahu of Israel and the 
Palestinian leader.. Yasser Arafat, an 
Tuesday left open the possibility for a 
meeting, but each set conditions, in F 
derscoring the crisis in foe Middle East 
peace process. 

In the West Bank, towns of Bethlehem 
and Hebron. Palestinians threw stones 
at Israeli troops, who fired teargas and 
robber bullets on a sixth day of violence 
sparked by Mr. Netanyd^s; ground- 
breaking fora Jewish settieforaftoArah 
East Jerusalem. : - 

Mr. Arafat, on a visit to Colombo, the 
capital of Sri Lanka, said he waslpre? 
pared to meet Mr. Netanyahu as long as 
the purpose of the meeting was to disenss 
peace. ‘ ‘Why not? If this is forpeace I 
am ready, bid if it is for propaganda, it is 
something different," he said. 

In the United States, officials said a 
ace mission by the administration’s 
iddle East negotiator, Dennis Ross, 
was under consideration but far from 
certain. 

Mr. Netanyahu's communications 
chief, David Bar-Hlan. said the prime 
minister would accept a meeting with 
Mr. Arafat if the issue of security topped 
the agenda. "We are obviously not re- 
jecting any idea for a meeting,” be said, 
“but we expect that if such a meeting 
takes place, it will focus on the issues of 
security and terrorism.” 

But the Palestinians object to any 
conditions and say the sides must talk 
about other issues besides security. 

The Palestinians deny charges by Mir. 
Netanyahu that Mr. Arafat gave Islamic 
militants a supposed “green light" tg 
carry out terror attacks, including a sui- 
cide bombing that killed three women at 
a Tel Aviv cafe last week. 

In Sri Lanka, Mr. Arafat said his 
Palestinian Authority had acted against 
those who opposed the law, including 
the main Islamic militant group Hamas. 
He accused Israel of fomenting con- 
frontation among Pales tinian s. 

‘ 'The Israeli government is looking to 
having instability and confrontation be 1 
tween the Palestinians, a civil war, which 
we cannot accept," Mr. Arafat said. ' 


* 


Mecca for U.K. Missile Protests 
To Be a Park, Bunkers Intact 


TRAVEL UPDATE 


WEATHER 


Reuters 

GREENHAM, England — 
Greenhorn Common, the U.S. 
air base that became a focus 
of anti-nuclear protests by 
women, was banded back to 
the people Tuesday for use as 
a park and business center. 

Greenham Common be- 
came a rallying point for pro- 
testers against cruise missiles 
in the early 1980s, with 
50,000 women surrounding 
the site at one point. 


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But the missiles finally left 
six years ago at the end of the 
Cold War, and the base was 
bought by foe Greenham 
Common Trust 
“It’s the end of 50 years of 
the shadow that has been cast 
by military activity on Green- 
ham Common and made h 
famous throughout Europe,” 
said Sir Michael Peters of the 
Greenham Common Trust 
"It’s over and now we are 
moving into the future.” 

Most of the 850 acres (350 
hectares) of land are being 
returned to the public for re- 
creation. Some buildings will 
be turned into business units. 

But the huge bunkers that 
housed die cruise missiles 
must remain, under the terms 
of the disarmament treaty that 
allows Russia to inspect the 
site at any time. 

The Greenham Common 
women have also not entirely 
disappeared. A small convoy 
of caravans nestles under a 
“peace camp” banner near 
the old gates of the site. 


Lufthansa Union Yields on Wages 


FRANKFURT (Bloomberg) — The DAG union, which 
represents pilots, cabin and some ground staff of Lufthansa, said 
it would accept a wage freeze through March 1998 if the airline 
extended a profit-sharing plan and met other conditions. 

Union members have authorized a strike if a contract offer 
is not improved. The two sides will hold talks April 7 and 8. 


A Way Around N. Y. Toll Booths 

NEW YORK (NYT) — An new electronic toll collection 
system at New York City's bridges and tunnels is shaving 
minutes from millions of commuting trips each week and 
winning thousands of converts every day, according to the 
Triborqugh Bridge and Tunnel Authority, which operates the 
system at seven bridges and two tunnels. 

It has issued 570.000 transponders for users' cars so far this 
year. The wait to pay cash tolls at foe Verrazano-Narrows Bridge 
is 15 mi n utes. E-Z Pass users go through in 30 seconds. 


Travel to the West Bank and Gaza Strip should be 
confined to essential trips, the British-Foreign Office advised, 
and passports carried at all times there and in Israel. {AFP) 


To Our Readers 


Because of an error in transmission, one page of financial 
news articles was missing from foe edition of Monday, March 
24, that was printed in New York. We regret any incon- 
venience. 


Europe 


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PAGE 3 


INTERNATIONAL HERALD TRIBUNE, WEDN ESDAY, MARCH 26. 1997 


PAGE 3 


THE AMERICAS 


Republican 
Takes Aim at 
Church-State 
Separation 


By Laurie Goodsrein 
and John E. Yang 

Washington Post Srn-u e 



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v WASHINGTON — A Republican 
congressman, backed by some conser- 
vative Christian groups, has offered a 
proposal for a constitutional amend- 
ment that would knock down what be 
said is the needlessly high wall sep- 
arating church and state. 

The bill was proposed Monday by 
Representative Ernest Istook Jr. of Ok- 
lahoma. He calls it the Religious Free- 
dom Amendment and it would, if adopt- 
ed, permit stales and municipalities to 
finance private religious schools, place 
religious symbols on government prop- 
erty and allow prayer in public school 
classrooms and at graduations. 

“This is to restore the protection of 
our precious religious freedoms and 
liberties, which have been eroded by a 
steady onslaught of court decisions.*’ 
Mr. Istook said. “Courts have gone far 
\ beyond outlawing prayer in many pub- 
lic school settings. They have aided a 
systematic campaign to strip religious 
symbols, references and heritage from 
the public stage.” 

. Conservative lawmakers and reli- 
gious groups agree that some kind of 
amendment on religious freedom is 
needed, but they have been feuding for 
two years about its wording. 

Though Mr. Istook painted a picture 
of harmony, at least one conservative 
member of the House and several re- 
ligious groups said they would be unable 
to support Mr. Istook's version because 
it did not protect religious minorities. 

But the Christian Coalition intends to 
spend SI million to $2 million on a 
campaign to support an amendment 
Ralph Reed, the group's executive di- 
rector, said Monday that no issue “will 
take a higher priority.” 

- Mr. Istook s 52-word proposal says, 

i * r% 9 3 nil- S “To secure the people’s right to ac- 

; * 1 <• l- i dill! knowledge God: The right to pray or 

acknowledge religious belief, heritage 
or tradition on public property, includ- 
• : ing public schools, shall not be in- 

■ : fringed. The government shall not com- 

pel joining in prayer, initiate or compose 
school prayers, discriminate against or 
... : deny a benefit on account of religion.” 

__ Even those sympathetic to such an 

amendment said they were troubled by 
the wording because by omitting whose 
“right” it is to ‘ ‘acknowledge religious 
belief,” it could be interpreted as “the 
government's right.” 

. ..Will Dodson, general counsel of die 
Southern Baptist Convention, said: 
“The Baptist faith and message says 
that the church should not resort to the 
civil power to carry on its work. We 
think that’s bad for the church and bad 
_ for religion because it creates resent- 

r ment against the majority." 

Steven McFarland, general counsel of 
the Christian Legal Society, a national 
network of evangelical lawyers, said the 
: _r.. proposal would mean that the Salt Lake 
City council could erect a statue to 
V T * Brigfram Young while Seattle’s could 
build one to the “Earth Goddess." 

. “We could potentially balkanize 
America,” he said. 



FBI Rebuffed Inquiry About China 

White House Sought Data on Efforts to Influence Election 


By David Johnston 

•Veil y,»rt Times Service 


t-i&'ttCUlU 


na .Iraiat 


I'm is u Uumimm.'llb- WnH IV. 

Mr. Fujimori, left, leaving a meeting Monday in Lima to discuss the crisis. 

Red Cross Is Hopeful 
On Peru Hostage Study 


Cmpdrd bt Ow Stiff From Disfkachet 

GENEVA — The International Com- 
mittee of the Red Cross said Tuesday 
that it hoped that a commission set up by 
Peru to evaluate prison conditions 
would help resolve the hostage crisis. 

The humanitarian agency also said it 
hoped that the commission, in which it 
is not taking part, would facilitate the 
resumption of regular Red Cross prison 
visits. They were suspended after the 
hostage crisis began Dec. 1 7. 

But in a statement, the International 
Committee of the Red Cross reaffirmed 
the standard terms for its prison visits — 
access to all detainees, interviews with- 
out witnesses and the right to repeat 
visits. 

It is providing aid to the 72 hostages 
being held by the Tupac Amaru Re- 
volutionary Movement and has taken 
part in the negotiations between the 
rebels and the government. 

Lima newspapers reported new pro- 
gress in negotiations, saying Tuesday 
that the rebels would fly to Cuba and 
that 17 of their imprisoned comrades 
would be released in exchange for the 


captives. The deal would mean both 
sides would have to cede ground on the 
key issue in negotiations. Talks stalled 
this month over the rebels’ demand that 
at least 300 jailed comrades be freed. 
President Alberto Fujimori said that 
freeing prisoners was out of the ques- 
tion. 

Citing unidentified sources close to 
the negotiations, the opposition La Re* 
publica newspaper said that Mr. 
Fujimori and ihe rebel leader. Nestor 
Cerpa Canolini, had agreed to the pro- 
posal. with details to be worked out. 

Bur El Sol. another Lima newspaper, 
said the two sides had not yet reached 
agreement. 

Under the reported deal, a group of 
rebels would fly with some hostages and 
a multimiUion-doUar payoff to Cuba, 
which has offered shelter for the rebels 
if a settlement is released. The hostages 
would be freed in Cuba. 

Mr. Cerpa would stay with the re- 
maining guerrillas and hostages in the 
compound and travel later to Cuba, 
where the remaining captives would be 
released. f Reuters . AP) 


Si, Si, It’s Hip to Speak Spanglish 


By Lizette Alvarez 

New York Times Service 


NEW YORK — Nely Gal an, guest 
host for a day, and the television actress 
Liz Torres plop down onto the plump, 
oversized chairs that dominate the late- 
night talk show set. and without missing 
v a beat, slip into the language that comes 
• most naturally to both of mem. 

ll Oye, oye, check out those red lips, 
girlfriend, ’ ’ Ms. Gal an says. 

. “Madonna Red, "Ms. Torres replies, 
pouting her full lips. 

, “Madonna Red, una belleza," Ms. 
Galan says. “You look beautiful.” 

“Si, gracias Ms. Torres remarks, 
returning the compliment. “Y tu te ves 
tan linda 

- Ms. Galan tells her late-night audi- 
ence: “It’s a Latina girlfesL We love 
makeup.” 

- Never min d that the talk show, 
“Later,” appears on NBC and is geared 
to an English-speaking audience. Ms. 


Galan, born in Cuba and reared in New 
Jersey, and Ms. Torres, Puerto Rican 
and raised in Hell's Kitchen in Man- 
hattan, were speaking the hybrid lingo 
known as Spanglish — the language of 
choice for a growing number of His- 
panic-Americans who view the hyphen 
in their heritage as a metaphor for two 
co-existing worlds. 

“I think Spanglish is the future,” said 
Ms. Galan, 32. the president of Galan 
Entertainment, a Los Angeles television 
and film production company that fo- 
cuses on the Latino market. “It’s a 
phenomenon of being from two cul- 
tures. It’s perfectly wonderful. I speak 
English perfectly. I speak Spanish per- 
fectly, and I choose to speak both si- 
multaneously. How cool is that?" 

Immigrants struggling to learn a new 
tongue have long relied mi a verbal 
patchwork to communicate in their 
adopted land. But Spanglish today is far 
from the awkward pidgin of a new- 
; of Hispanic -> 


comer. As millions 


spanic-Amer- 


Hig h Court to Weigh Reach 
■ J Of Rulings by State Tribunals 


By Linda Greenhouse 

New York Times Service 

WASHINGTON — The Supreme 
Court has agreed to decide whether, and 
under what circumstances, the courts of 
one state can refuse to honor rulings by 
the courts of another state. 

While the case before the justices 
involves .an automobile accident, the 
decision could affect the way courts 
handle an important range of legal is- 
sues that cross state lines, from chud 
support and custody to the eventual in- 
terstate recognition of marriage be- 
tween gay partners. 

The case requires the Supreme Court 
to interpret a clause in the Constitution 
dial instructs states to give “full faith 
and credit” to the ‘ ‘public acts, records, 
and judicial proceedings of every other 
state.” The clause. Section One of . Ar- 
ticle TV, has received surprisingly little 


attention from the court over the years. 

In this case, the General Motors Corp. 
had obtained an order from a Michigan 
state court to prevent a former engineer 
from testifying as an expert witness in 
lawsuits against the company. The in- 
junction was part of a settlement of a suit 
and counter-suit between General Motors 
and the engineer, Ronald El well, who 
left die company on bad terms in 1991. 

In 1993, Mr. El well was called as an 
expert witness in a lawsuit against Gen- 
eral Motors by the children of a Mis- 
souri woman who died in a Chevrolet 
Blazer that caught fire in a collision. The 
Federal District Court in Kansas City 

S irred Mr. Elwell’s testimony, re- 
g to honor the Michigan order on 
the ground that Missouri has a public 
policy that favors full disclosure of all 
relevant information in court proceed- 
ings. The jury found for the plaintiffs 
and awarded them $11-3 million. 


icans. first-, second- and third gener- 
ation, take on more prominent roles in 
business, media and the arts, Spanglish 
is traveling right along with them. 

The headlines of a glossy new 
magazine aimed at young Hispanic wo- 
men spout a hip, irreverent Spanglish. 
Young Hispanic rappers use the dialect 
in recordings, and potts and novelists are 
adapting it to serious literary endeavors. 

Spanglish has few rules and many 
variations, but at its most vivid and 
exuberant, it is an effortless dance be- 
tween English and Spanish, with the two 
languages clutched so closely together 
that at times they actually converge. 
Phrases and sentences veer back and 
forth almost unconsciously, as the 
speaker’s intuition grabs the best ex- 
pressions from either language to sum 
up a thought. 

Some Spanish-language purists still 
denounce Spanglish as a debasement of 
their native tongue. And many Latinos, 
wary of the Ebonics controversy that 
flared over the suggestion that black 
English should be considered a separate 
language, are unsure just how far they 
want to push their own hybrid. 

Many see it as a purely colloquial 
form of communication best suited to 
popular culture, and there is little talk of 
introducing a Spanglish curriculum in 
schools or demanding that Spanglish be 
accepted in the workplace. 

Most speakers fall into Spanglish 
only among other bilingual Latinos, and 
when they do, it is often with a sense of 
humor. 

“If in addition to, quote, ‘taking all 
those good fruit-picking jobs’ we then 
begin bastardizing the language, we are 
really going to catch it.” said Christy 
Haubegger, publisher of Latina 
ma gazin e . “We don’t need another 
strike against us.” 

But those reservations have not lim- 
ited Spanglish's popularity. Ms. 
Haubegger, a Mexican-American law- 
yer, began Spanglish’s most successful 
foray into the magazine world last June 
when she started Latina magazine, a 
bilingual glossy in New York for young 
Hispanic women. The magazine pep- 
pers its stories and headlines with 
Spanglish. 

The magazine has been so successful 
that this summer it will go monthly. 


WASHINGTON — The White 
House tried last month to obtain sensitive 
counterintelligence information from the 
FBI about Beijing's plans to influence 
American politics, but the agency’s di- 
rector, Louis Freeh, rebuffed the inquiry, 
according to administration officials. 

The FBI material was sought by 
Charles Ruff, the White House counsel, 
for a briefing of Secretary of State 
Madeleine Albright. In a Feb- 1 S letter to 
Jamie Gorel ick. the deputy attorney gen- 
eral, people who have seen the letter 
said, Mr. Ruff posed a series of questions 
about what federal investigators knew or 
suspected about the involvement of 
Chinese officials and citizens in a pur- 
ported plan to make illegal contributions 
to American political campaigns. 

Mr. Ruff said he was seeking the 
information on behalf of the National 
Security Council. At the time, Mrs. Al- 
bright was preparing for a trip to China, 
scheduled for late February. 

Mr. Ruff, who said Monday that there 
was nothing improper about his request, 
stressed in the letter that the White 
House wanted “information only con- 
cerning the activities of officials and 
nationals of the People’s Republic of 
China," not American citizens. 

A reply was prepared, with the ap- 
proval of top Justice Department of- 
ficials, but Mr. Freeh, who was traveling 
in the Middle East at the time, inter- 
vened and ordered the document with- 
held, federal law enforcement officials 
said. 

They said Mr. Freeh had decided to 
stick to his earlier decision that no in- 
formation relating to possible influ- 
ence- buying by China would be 
provided to anyone in Congress or the 
executive branch. 

Mr. Freeh, the officials said, was wor- 
ried that whatever information was 
passed on would be leaked and that the 
FBI would be criticized for sharing in- 
formation with the president’s aides. 

The FBI director's refusal of the 
White House's request was an example 
of the tensions among the White House, 
the Justice Department and the FBI. 
which have escalated in the investi- 
gation of the financing of the 1996 elec- 
tion campaign. 

It also showed the extent to which the 
investigation has tied the relationships 
among federal agencies in knots. 

Indeed, some government lawyers 
suggested Monday that it was Mr. Freeh 


California Gly 
To Build China 
Ship Terminal 


Los Angeles Times 

LONG BEACH, California — Chart- 
ing a course toward a heared political 
fight, the Long Beach Harbor Com- 
mission has approved a plan to build a 
$200 million cargo terminal for China’s 
state-run shipping line. 

The panel voted unanimously Monday 
to proceed with construction, despite be- 
ing caught in a crossfire of environ- 
mentalists and federal lawmakers. 

Environmentalists fear the project 
will destroy wildlife and loosen con- 
taminated sediment in the ocean, while 
the lawmakers wony that Beijing could 
use the terminal for arms smuggling or 
intelligence operations. 

The port already has signed a lease 
for the property with China Ocean Ship- 
ping Co., or Cosco. 

* * Cosco has been operating in die Port 
of Long Beach with the full knowledge 
and approval of the U.S. government 
since 1981.” George Murchison, the 
Harbor Commission's president, said. 
“It is wrong to ask the Port of Long 
Beach to discontinue a long relationship 
with a good customer because some 
people do not support trade policies 
established by our federal government; 
and it U absurd to suggest that Cosco's 
operation as a commercial shipping line 
poses a threat to U.S. security. 

Plans for the 145-acre (58-hectare) 
terminal, which would be built on tbe site 
of tbe closed Long Beach Naval Station, 
still must overcome several roadblocks. 

Some federal lawmakers, fearing tbe 
site would be used for arms smuggling 
or intelligence operations, have 
sponsored a bill to block tbe project. 


who had erred by withholding the in- 
formation from ihe White House, thus 
leaving the secretary of state without 
critical information at a time when she 
was embarking on a diplomatic mission 
to Beijing. 

These officials said that Mr. Freeh, 
who had been accused in Congress of 
maintaining too cozy a relationship with 
the White House, bad simply decided 
not to risk further criticism. 

In the summer of 1993, presidential 
aides were embarrassed when they 
summoned the FBI to investigate the 
White House travel office. 

Weeks later, there was more trouble 
when some investigators said they were 


blocked by White House officials dur- 
ing their inquiry Into the death of Vin- 
cent Foster Jr., the deputy White House 
counsel who had committed suicide that 
year. Last year. Republicans in Con- 
gress assailed the White House for ob- 
taining FBI background files on hun- 
dreds of presidential aides. 

In his letter. Mr. Ruff said. “We seek 
information only concerning the activ- 
ities of officials and nationals of the 
People's Republic of China and wish 
only to obtain sufficient information to 
enable the National Security Council to 
formulate an appropriate policy with 
respect to allegations regarding those 
activities.” 


POLITICAL NOTES 


U.S. Agency Sends 
Landlords a Message 

WASHINGTON — With his de- 
partment asking Congress for a huge 
budget increase to maintain a major 
low-income housing program. Hous- 
ing Secretary Andrew Cuomo has an- 
nounced that the agency is stepping up 
efforts to reduce fraud and abuse in the 
program that costs taxpayers millions 
of dollars a year. 

Appearing Monday at a news con- 
ference with Attorney General Janet 
Reno. Mr. Cuomo announced the 
"Get Tough” partnership with the 
Justice Department, which he said 
would reflect a new priority in the 
Housing Department — to search out 
landlords who are diverting money for 
their personal use and cheating ten- 
ants by ignoring repairs. 

“Our message to landlords is very 
simple: If you misuse federal re- 
sources, we will find out, we will track 
you down and we will make you 
pay," Mr. Cuomo said. “What 
they're doing is illegal, it is wrong, it 
must end. Starting today, it will." 

Mr. Cuomo said that problems with 
landlords who participate in the low- 
income program, known as Section 8. 
as well as in other programs serving 
the poor, have become widespread. 
The department, he said, would begin 
its crackdown in 50 cities against 
landlords to more than l million 
people in 445.000 Section 8 units. 

Over all, the program provides 
housing for about 43 million low- 
income people around the country, 
most of whom are elderly, disabled or 
families with children, at an annual 
cost to the federal government of 
about $7 billion. In its budget request 
for fiscal year 1 998. the department is 
asking Congress for $5.6 billion, 
about 30 percent more than the current 
budget of $193 billion, to cover ex- 

K g subsidy contracts with land- 
and residents who participate in 
the program. (NYT) 


enue Service has singled out conser- 
vative tax-exempt organizations for 
audits. 

The legislators, two Republicans 
and two Democrats, said Monday 
they had asked the staff of the Joint 
Committee on Taxation, the nonpar- 
tisan congressional tax-research op- 
eration. to look into the conservative 
groups’ complaints and to report by 
Sept. 15. 

Among tbe audited groups are Cit- 
izens Against Govemmenr Waste, a 
fiscal watchdog group: the Heritage 
Foundation, a research organization: 
the National Rifle Association, and 
organizations with ties to prominent 
conservatives like the House speaker. 
Newt Gingrich, and Oliver North. 

Some organizations said the IRS 
had told them that the audits were set 
off by news reports that suggested that 
they were involved in political activ- 
ities. Under the Tax Code, exempt 
organizations whose donors can de- 
duct their contributions from their 
taxes are barred from participating in 
political activities like endorsing can- 
didates or fund-raising. 

There have been no public com- 
plaints of audits from liberal groups of 
the same type, leading some Repub- 
licans to ask whether there was ev- 
idence that the Clinton administration 
was trying to use the IRS to harass its 
political foes. 

The agency has denied conducting 
politically motivated operations. In- 
ternal Revenue Commissioner Mar- 
garet Richardson said in a statement 
Monday that the reports of politically 
focused audits were inaccurate and 
misleading and that she was delighted 
with the call for a congressional in- 


Congress to Probe 
Some IRS Audits 

WASHINGTON — The leaders of 
the House and Senate tax committees 
say they have ordered an investigation 
into complaints that the Internal Rev- 


quiry. 

“I am confident that their review 
will demonstrate that the IRS enforces 
the law in a fair, impartial and non- 
partisan manner in the exempt or- 
ganization arena,” Mrs. Richardson 
said. (NYT) 

Quote / Unquote 

Representative Gerald Solomon, 
Republican of New York and chair- 
man of the Rules Committee, on the 
threat of rebellion against the House 
speaker. Newt Gingncb: "There’s no 
question, no question whatsoever that 
Gingrich's position is secure and that 
he can be speaker for as long as he 
likes.” (NYT) 


Away From 


Politics 


• A token booth clerk who hardly 

missed a day of work in 27 years was 
fatally shot as he emptied the turn- 
stiles at a subway station in New York 
City. Robert LeBrigbt, 60, was work- 
ing his night shift in Queens, empty- 
ing tiie turnstiles shortly before 5 
AM., when a man shot him in his 
right side and fled. (AP) 

• A Cuban refugee who arrived in 

the United States in tbe 1980 Marie] 
boatiift was executed for tbe 1982 
murder of a teacher. Pedro Medina, 
39, was put to death in tbe electric 
chair in Starke prison in northern Flor- 
ida after last-minute appeals based on 
his mental health failed. (AFP) 

• Eight people who bad been on 
strike against Detroit’s daily news- 
papers have returned to work — the 
first under an agreement to end the 
walkout Seven of the employees 
work for Detroit Newspapers Inc., 
which oversees the joint business op- 


erations of the Detroit Free Press and 
The Detroit News. The eighth is a 
clerk for the Free Press. Next week, 28 
members of the Newspaper Guild are 
expected to return to work. Of 2300 
employees who went on strike, about 
1 60 have received calls back to work, 
and 1 35 have accepted. (AP ) 

• Half a century after be bailed out 

of a bullet-tom torpedo bomber in 
World War II, former President 
George Bush fulfilled a promise to 
himself by strapping on a parachute 
Tuesday and leaping out of a plane — 
for the fun of it. Mr. Bush, 72, made 
the jump from a civilian plane 12300 
feet over the U.S. Army’s Yuma Prov- 
ing Ground. (AP) 

• Sixteen students who were sus- 

pended for three weeks for sampling 
bits of Alka Seltzer tablets will be 
allowed to return to school, their prin- 
cipal said. Another — the boy who 
brought the fizzing antacid to Moun- 
tain View Middle School in Bremer- 
ton, Washington — must complete a 
three-day suspension. They were sus- 
pended for violating the school's "no 
drug” policy. (AP) 




Ge iral Meihng 



A PREUSSAG 












PAGE 4 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


ASIA/PACIFIC 


After Accident, Japan Rethinks Nuclear Power Ambitions 



By Andrew Pollack 

New York Tones Service 


TOKAL Japan — A plaque in front of 
the village hall proclaims dial people 
here live with "the fire of the atom." 
This town was the birthplace of atomic 
energy in Japan — site of the country's 
first research reactor and first commer- 
cial nuclear power plant — but in the 
future it might be remembered more as a 
place where Japan's nuclear ambitions 
took a severe blow. 

A lire and explosion here at the coun- 


try's only nuclear waste reprocessing 
plai 


plant have raised public concern about 
the safety of atomic power and cast a 
cloud over Japan’s already controversial 
program to harness deadly plutonium as 
a source of energy. 

The incident, on March 1 1, has been 
classified as the worst nuclear accident 
in Japan's history. 

Some 37 workers were exposed to 
radiation, although it was far below 
levels that would be harmful, the plant's 


managers said. Some radioactive ma- 
terials, including plutonium, escaped in- 
to the atmo sphere and were detected as 
far as 37 kilometers (23 miles) away, 
though at levels that the government 
insisted posed no danger. 

But some experts say it is worrisome 
that any radiation leaked at alL “I think 
the accident Is technically very serious 
even if it's not environmentally seri- 
ous." said Atsuyuki Suzuki, professor 
of nuclear engineering at the University 
of Tokyo. 

A seeming comedy of errors in re- 
sponding to the fire and informing the 
public was more disturbing to some than 
the amount of radiation released 

The missteps were committed by the 
Power Reactor and Nuclear Fuel De- 
velopment Corp., a government-run 
company that also was in charge of an 
experimental reactor at which a serious 
accident occurred in December 1995. 

Japan is banking heavily on conven- 
tional uranium-based nuclear power and 
on advanced systems using plutonium to 


relieve its almost complete dependence 
on imported oil and coal. 

Plutonium can be extracted from the 
spent fuel of nuclear power plants and 
then used as fuel itself, either in con- 
ventional reactors or in fast breeder re- 
actors, which can create more plutonium 
than they consume. 

The plant in Tokai, a Pacific coast 
town 1 10 kilometers northeast of Tokyo, 
handles about 12 percent of Japan’s 
spent fuel, with the rest sent to France or 
Britain for reprocessing. The Tokai plant 
and the adjacent plutonium fuel fab- 
rication factory now contain about 4.4 
tons (4 metric tons) of plutonium, which 
is toxic and in some forms can be used to 
make nuclear warheads. 

Even before the latest accident, Ja- 
pan’s plan was facing a cloudy future 
because of the December 1995 leak of 
sodium coolant at the country's pro- 
totype fast breeder reactor, known as 
Monju. No date has been set for re- 
activating Monju, which has been closed 
since the accident. 


The government-run nuclear energy 
company was harshly criticized for its 
slow response to the Monju accident and 
for its attempts to cover xt up. The com- 
pany's top executive was replaced, 
safety manuals were revised and other 
reforms were supposedly introduced. 

But many of the same types of mis- 
takes were made in die Tokai accident. 

The sprinkler system to put out the fire 
was left on for only one minute. It is 
believed chat failure to extinguish the 
blaze completely led to die subsequent 
explosion. 

Containment systems did not function 
effectively, so that radiation from the 
room with the fire leaked into an ad- 
jacent building, exposing workers, wbo 
were not evacuated until 24 minutes 
after the fire was noticed. 

Although the nuclear energy company 
reported die initial fire quickly to local 
governments, it took horns to report that 
radiation had leaked, and then continually 
revised upward the amount of Leakage 
and the number of workers exposed. 


People in Tokai did not know of the 
explosion, which took place about 8 P.M., 
until the next morning, in part because the 
local government withheld the news. 

Furthermore, several officials in the 
department in charge of repairs at Tokai 
took pan in a golf tournament on the day 
of the accident and subsequent days as 
well. 

“The lessons from Monju were not 
learned," said J uni chi Kurakami, a 
spokesman for die Tokai works. 

The cause of the fire is still not known. 
But government officials vowed to con- 
tinue Japan’s nuclear program, saying 
that while the accident bad damaged 
public confidence, die basic technology 
was sound 


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“If we judge the accident from only 
the technical point of view, we don ’t have 
a severe problem," said Yoichi Fujiie, a 
member of Japan's Atomic Energy Com- 
mission, which makes nuclear policy . 

But it is becoming harder for officials 
to find places that are willing to accept 
the many more nuclear power plants 


that the government wants 10 - Mjjj 

Even in Tokai, the site of Japan s fast 
research reactor in 1959 and nntem 
mercial nuclear power plant in im 
some people are having second thoughts.. 
AbSutVt&rd of the 33,000 r^idemsare 
dependent on the nuclear industry, and 
about 40 percent of the municipal lax 
revenue comes from the industry. F. l ’ 

“For the first time, my angerjitsr 
exploded," said Yoko Owada, 59, ^ a 
greengrocer. "I no longer trust them. ^ 


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In Protest, 
Soldiers Block 
Parliament in 
New Guinea 


Cimpiled by Ow Sttf From Dispcaha 

PORT MORESBY. Papua 


New 

Guinea — Mutinous soldiers' in combat 
fatigues blocked the exits to the Par- 
liament building Tuesday alter law- 
makers rejected a call for the prime 
minister to resign. 

“We don't want the politicians to 
leave," said one of about 150 soldiers 
outside the Parliament compound. 

The soldiers, armed with M-16 rifles 
and pistols, searched cars carrying jour- 
nalists and Parliament employees out of 
the building. About 100 politicians were 
trapped inside. 

Hundreds of anti-govemment protest- 
ers were camped out around the Par- 
liament in defiance of the 10 P.M. 
curfew. They were demanding that 
Prime Minister Julius Chan resign for 
hiring foreign mercenaries to end the 
nine-year secessionist conflict on the 
island of Bougainville. 

Tensions eased when a rebel com- 
mander, Major Walter Enuma, arrived 
late in the night and ordered the soldiers 
to avoid confrontation. 

"There will be no confrontation. I 
will not allow it,' ' Major Enuma said. He 
then entered Parliament to assure the 
politicians inside of their safety. 

Earlier in the day. Parliament voted, 
58 to 39, against a motion that urged Mr. 
Chan and two close aides to step down 
while an inquiry is held into the mer- 
cenary contract. 

Protesters stoned a handful of cars 
after hearing of the failure of the motion, 
and many feared violence would return 
to the streets of Port Moresby, which 
was rocked by two days of looting last 
week. 

Mr. Chan himself took the floor only 
once during a rowdy five-hour debate, 
saying he had hired the mercenaries to 
prevent more Papua New Guinean sol- 
diers dying on Bougainville. 

'‘Sometimes you have to make de- 
cisions in the best interests of the security 
of die nation, and we made this decision 
and will not compromise that decision,” 
Mr. Chan said. “I had to put the lives of 
our soldiers on Bougainville first.” 

Mr. Chan’s whereabouts Tuesday 
night were unknown. He was reported to 
have left Parliament shortly after the 
vote. 

The crisis began last Monday when 
the army chief. Brigadier General Jerry 
Singirok, demanded that Mr. Chan 
resign. General Singirok was promptly 
dismissed, but remains in control of the 
army. (AP. Reuters) 



INTERNATIONAL 


Saudi Seized in ’96 Blast 
Insists He Has an Alibi 


By Howard Schneider 

Washington Post Service 


OTTAWA — The Saudi held in Ot- 
tawa as a suspected participant in a bomb 
attack that killed 19 Americans in Saudi 
Arabia last year says that he was in Syria 
at the time and came to Canada not to 
avoid arrest but to better his life. 

Hani Abdel Rahim Sayegh dismissed 
with a l augh die contention by U.S. 
authorities that he drove one of the 
vehicles involved in die deadly explo- 
sion and said be was optimistic that he 
would be accepted as a refugee in 
Canada. 

“The Saudi and American authorities 
both know I am innocent," be said 


Tiir4rti IQjrAtaiiwT \pitrr Iramvl'ir^y' 

Protesters, supported by soldiers, marching to Parliament on Tuesday in Port Moresby, Papua New Guinea. 


Monday, adding that they have implic- 
ated him in the bombing because he is “a 


BRIEFLY 


Taiwan Defiant on Dalai Lama 


“I think there is something sober about seeing the 
Demilitarized Zone, but it’s also a great success story. For 
44 years it has worked, and I hope it works until uni- 
fication." he said. (AP) 


TAIPEI — Taiwan's leaders pressed ahead Tuesday with 
plans to meet the Dalai Lama, turning a deaf ear to increased 
protests from China n p n, «/» r r ■» /i ■ 

VicePresidentLienChanistomeet Wednesday withthe JtSumm bOVS Strife Under LOfltr Ol 
exiled Tibetan spiritual leader, a cabinet official confirmed, _ 

before President Lee Teng-hui's meeting Thursday with the RANGOON — Burma's military government said T ues- 

Dalai Lama day that recent religious strife in the country was politically 

But China unleashed a volley of accusations Tuesday motivated by people aiming to destabilize the nation, but 


against both the Dalai Lama and die leaders of the island, 
which it has considered a renegade province since na- 
tionalist forces were driven here by the Communists in 1 949 
after a bitter civil war. 

‘ ‘The Dalai Lama says on one side that he does not want 
independence, but on die other side he continues his sep- 
aratist threats,” a spokesman for China’s Foreign Ministry. 
Cui Tiankai, said at a media briefing. “He says this to trick 
international opinion and he lacks sincerity because he has 
never abandoned his aim of independence." 

Mr. Cui's comments came in reply to an offer Monday by 
the Dalai Lama to hold talks on the future of Tibet, stressing 
that he was not seeking independence. (AFP) 


Gingrich Visits Korea’s DMZ 


that the situation was now under control. 

However, the government would not comment on the fate 
of some 100 monks who were apparently detained over the 
weekend in the capital after they vandalized Muslim prop- 
erty and held a demonstration. 

“On the surface it seems like a religious clash, but it is 
actually vety much politically motivated," the government 
said in a statement received in Bangkok, in reference to 
recent clashes between Buddhists and Muslims in various 
Burmese cities. "The anti-govemment groups are very- 
much desperate to create instability in the country wherever 
or whenever possible," said the statement, the first issued 
by the ruling State Law and Order Restoration Council since 
the troubles began on March 15. (Reuters) 


PANMUNJOM, Korea — Visiting the Demilitarized 
Zone on Tuesday, Newt Gingrich, the U.S. speaker of the 
House, reaffirmed Washington's continued security com- 
mitment to South Korea and thanked American soldiers for 
helping keep the country safe. 

He said the United States was “committed to defend" 
South Korea. "We believe that partnership is very, very 
important to us," Mr. Gingrich said as he looked across the 
heavily armed border. The Georgia Republican is the first 
House speaker to visit South Korea since 1971. His two-day 
visit is pan of a five-nation Asian tour. 


Kashmir Police Break Up Protest 


JAMMU. India — The police in Kashmir used tear gas and 
batons Tuesday to break up a rally of 25.000 Hindus protest- 
ing the killing last week of seven Hindus, officials said. 

Nearly 30 people, including some policemen, were in- 
jured during the demonstrations by Hindus in Jammu, the 
winter capital of the Jammu and Kashmir state, they said. 

The protest follows the killing Friday of seven Kashmiri 
Hindus by unidentified gunmen at Sangram pur village near 
Srinagar, in the Kashmir valley, which has a Muslim 
majority. (Reuters) 


Shiite and worked for the opposition 
party” in Saudi Arabia. 

Mr. Sayegh, 28, spoke through an 
interpreter at the Ottawa Detention Cen- 
ter, a maximum-security jail where he is 
being held as a high risk, segregated 
from other prisoners. 

U.S. authorities say Mr. Sayegh 's ar- 
rest is a possible breakthrough in their 
investigation of the truck-bombing June 
25 that killed 19 U.S. military personnel^ 
and injured 500 at the Khobar Towels- 
residential complex in Dhahran. Saudi 
Arabia. 

Mr. Sayegh was identified as a suspect 
in the bombing soon after it occurred, 
U.S. law enforcement officials say. 

He refused to say whether he will talk 
to FBI agents about matters other than 
his pending claim in Canada for refugee 
stares. 

Officials in Washington said that 
when and where FBI agents get to ques- 
tion Mr. Sayegh will depend on how 
Canadian legal proceedings play out. He 
can be deported, after a hearing, if Ca- 
nadian authorities convince a judge that 
he committed criminal or terrorist acts 
abroad. 

He asserted Monday that he left Saudi 
Arabia two years ago for Syria to avoid 
harassment for his political views and 
his support for opponents of the Saudi 
royal family. 

He said he fell he might be singled out 
for such persecution because he spent a 
year studying Islam in Iran in 1987. 

Saudi officials have told U.S. author- 
ities that they believe the bombing was 
carried out by Shiite members of Saudi 
Hezbollah, which they say is a wing of the 
Hezbollah, or Party of God. Hezbollah, 
which is based in Lebanon, has long been 
financed, trained and equipped by Iran. 

But Mr. Sayegh said he was nor a 


member of Hezbollah and did not sup—:- - 
port violence or terrorism as a way ttf - 
further political ends. “I am against the- i- 

bombings,” he said. \ 

In part, he said, that is why he came to - 
Canada — to seek political and religious 
freedom. . 

At the time of the bombing, he said, be 
was still in Syria but was planning tq - 
leave for Canada. 

After hearing of the Khobar Tower$ 
explosion, he said, he became nervous 
about returning to Saudi Arabia. afrai($ 
that Shiites would be taigeted in any 
investigation. . 

U.S. law enforcement officials de- U 
dined to comment on Mr. Sayegh ’s aHbi 
and his cl aims of innocence. They .con? 
tinue to insist that they have credible 
grounds to believe he has informatioii ' 
important to the investigation. 







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MR. YEN: Recovery Is the Real Thing This Time, Point Man on the Japanese Economy Proclaims 


Continued from Page 1 


Although economic growth is expec- 
ted to slow after next month's 7 trillion 
yen ($57 billion) tax increase, Mr. 
Sakakibara said this would only be tem- 
porary. He said Japanese consumers, 
who have known about the tax hike for 
months, already had factored it into 
spending plans. 'Consumer spending and 
economic growth would recover in the 
second half of the year, he said, and 
Japan would grow by at least 1.9 percent 
in the year ending March 1998, in line 
with government forecasts. 

Citing a recent poll of global investors 
by Mernll Lynch, the U.S. brokerage. 


and Gallup, the polling company, Mr. 
Sakakibara said the bulk of people still 
negative about Japan’s prospects were 
Japanese. Many private Japanese econ- 
omists expea growth of as little as I 
percent in the year ending next March. 
The United Stales also has reservations 
about the strength of the Japanese econ- 
omy. Mr. Sakakibara noted. 

In private, U.S. officials have ex- 
pressed anger over Tokyo’s plans to 
raise taxes in April to cut its budget 
deficit. Tokyo, the officials insist, 
should delay tax increases to buoy con- 
sumer spending instead of consolidating 
its economic recovery by relying on the 
weak yen to boost exports. Data in- 


dicating a slowdown in Japanese con- 
sumer spending and a rise in its trade 
surplus with the United States already 
have sparked a sharp response from 
Washington. Only last week, Charlene 
Barshefsky, the U.S. trade representa- 
tive, warned Japan not to try boost ex- 
ports to the United States. 

Shinji Sato, minister of international 
trade and industry, responded Tuesday 
by saying that Washington was targeting 
Japan’s trade surplus because it had no 
substantive issues to address. On March 
17, the Finance Ministry said that the 
Japanese trade surplus rose in February 
for the first time since November 1994. 
The surplus in merchandise trade rose 


6.5 percent to 686.72 billion yen. Ja- 
pan’s surplus with the United States 
grew for the fifth month in a row. rising 
1 2.3 percent to 407.35 billion yen. 

One economist said the benefits from 
Washington's agreement in 1995 to let 
the yen fall to help Japan ^ 's exporters and 
its economy recover had been largely 
canceled out by Tokyo’s decision to 
raise taxes. “It's like giving a hungry 
man $10 and watching him put it in his 
piggy bank," said the economist. 

Hie Japanese economy, Mr. 
Sakakibara said, would benefit most 
over the next few years from strong 
government support for major restruc- 
turing in the manufacturing, financial 


GORE: China and US. Pledge Not to Let Fund-Raising Charges Damage Their Relations 


Continued from Page 1 


administration is aggressively promot- 
ing business deals with China at the 
same time that it hopes to show stead- 
fastness on human rights. In a ceremony 
at the Great Hall of the People, Mr. Gore 
seemed a bit flustered for a moment by 
this balancing act. 

ocm»,uui in ws 5iuu sk care iu i ly avoided The occasion was a signing ceremony, 
an acrimonious tone. Mr. Li supervised witnessed by both Mr. Gore and Mr. U 

his goveinn iem's bloody crackdown on on Tuesday to recognize new agree- s „„„ u, i. luaS i wnn me tnma. mr. uore sa.u, ..u,u, 3 

* Square protesters in 1989. ments by China to buy five Boeing jet- man whom human rights advocates re- Chinese crop yields are endangered. 

The vice president told them what liners and to build Buick cars jointly with gard as a prime villain. * -■ .... . ! w. r 

was on our mind." and Mr. Li "told us General Motors. At the end, waitresses 


China relationship, they did the same on 
a dispute of long standing: human 
rights. 

Hie vice president raised the issue of 
China's repression of political dissi- 
dents, but aides said he carefully avoided 


Later, his aides suggested that they 
and the vice president were caught un- 
aware by the toast. 

But a spokeswoman, Ginny Terrano, 
said that if Mr. Gore seemed ill at ease it 
was because he was surprised that the 
Chinese served champagne in the morn- 
ing. not because he was afraid of how his 
political opponents might use photo- 
graphs showing him in a toast with the 


dioxide on the global climate, said that 
China, despite its zeal for economic 
growth, was becoming more sympath- 
etic to environmental protection out of 
self-interest. 

“Here in China your greatest ag- 
ricultural areas ore co- located with the 
great population centers and industrial 
centers in eastern and northeastern 
China," Mr. Gore said, noting that 


what was on theirs," said Leon Fuerth, 
Mr. Gore's national security adviser. 
“But it was a conversation, and it left 
them at the end of that time in a position 
to take up the next agenda item in a calm 
and equitable frame of mind." 

The different items on the admin- 
istration's agenda, however, do not al- 
ways fall easily together. The Clinton 


came out with glasses of champagne. 

A smiling Mr, Li raised his glass, but 
a stem-faced Mr. Gore barely moved his. 
Mr. Li tried again and this time clinked 
the vice president’s glass with such force 
that some of the drink splashed to the 
floor. 

Mr. Gore took a tiny sip of what was 
left, then left his glass on the table. 


In a 1 995 meeting in Copenhagen. Mr. 
Gore and Mr. Li had a tense session in 
which they debated human rights. Since 
then, they have gotten along better. For 


example, Mr. Li has agreed to chair, with 
Gore, a “U.S.-China Forum on En- 


Mr, 


vironmentand Development" to discuss 
ways of curbing pollution. 

The vice president, who has long 
warned of the dangers of rising carbon 


In his meetings with Mr. Li, Mr. Gore 
discussed U.S. concerns aboui China’s 
trade deficit with the United States. 
China’s hopes to join the World Trade 
Organization and the future of Hong 
Kong when it reverts to China in July. 

His aides offered few details on these 
talks, saying that Mr. Gore would elab- 
orate in a speech Wednesday. After- 
ward. he will meet with President Jiang 
Zemin and hold a news conference. 


and public secrors. Many Japanese man- 
ufacturers have nearly completed re- 
structuring. he said. And they have 
moved factories overseas and slashed 
cosLs at home. 

Japanese financial institutions ore re- 
structuring by aggressively writing off 
the enormous bad debts suffered after 
property prices collapsed in the early 
1 990s, he added. A chunk of those debts 
were written off last year and more 
would be written off this year and next. 
In addition, he said, the administration 
of Prime Minister Ryu taro Hashimoto 
will unveil a drastic overhaul of the 
government and the public sector within 
the next year to cut public spending. 

"Soft-minded liberals talk a lot about 
reforms, but they cannot implement 
them," Mr. Sakakibara said. “It is usu- 
ally tough conservatives who can im- 
plement genuine reforms and this gov- 
ernment is exactly that kind" of 
government. ^ " 

Mr. Sakakibara first made u name for 
himself internationally in the early 
1990s with the publication in English of 
his book “Beyond Capitalism." It i s an 
explanation and espousal of the idio- 
syncrasies of the Japanese economy. 

These days, he spends his time 
designing a deregulation package for 
Japan's financial sector that is modeled 
on London's "Big Bang" in 1986. By 
bringing Tokyo’s financial markets in 
line with those of London and New 
York, the government hopes Japan's fi- 
nancial sector will become more com- 
petitive. He reconciles the apparent con- 
flict between “Beyond Capitalism" and 
designing a London-style “Big Bang" 
by saying that while economies retain 
idiosyncrasies, over time they can con- 
verge in some sectors. 


Peru Downs Plane 
Said to Carty Drugs 


IilrtA ■ Pomwaff 
fighter planes shot down an airplane 
suspected of transporting drugs 
over the central jungle alter it ig- 
nored instructions to land, news re- 
ports said Tuesday. 

The unidentified twin-engine 

§ lane crashed after being fired on 
unday afternoon near the banks of 
the Ene River, 325 kilometers (200 
miles) east of Lima, according to the 
reports. There was no immediate 
confirmation from air force offi- 
cials. ( Reuters ) 


13 Found Guilty 
In Africa Massacre 


DURBAN, South Africa — Thir- 
teen people were found guilty Tues- 
day in Durban High Court on 18 
charges of murder arising from a 
massacre at Shobashobane village 
south of here on Dec. 25, 1995. 

Among those found guilty by 
Judge Hilary Squires was a leader of 
die Zulu nationalist Inkatha Free- 
dom Party in the Shobashobane area, 
Sipho Ngcobo, as well as a 14-year- 
old boy. Most of the others accused 
were also supporters of Inkatha. Five 
people were acquitted, according to 
the SAPA news agency. 

On Monday, the judge ruled that 
the massacre, in which 18 people 
were killed, was a politically mo- 
tivated attack by the Inkatha party 
against its arch-ri vaJ, President Nel- 
son Mandela's African National 
Congress. (AFP) 


France Favors Post 
For Boutros Ghali 


— France said Tuesday it 
would like to see the former UN 
secretaiy-general. Boutros Boutros 
Ghali, become head of the com- 
mumty of French-speaking nations. 

France can only look upon his 
candidacy favorably." a Foreign 
Ministry spokesman said. 

The role of secretary-general of 
French-speaking countries would 

I F^P ec y i y for Mr. 
Boutros Ghali. an Egyptian, who 


interest in such a post 


f^ghis re-election bid atthe 
United Nations last year. (AP) 


Argentine Ex- Chief 
Sought by Spain 

MADRID — a Spanish judge 


1““^. ^ ‘ntematiema] anest war- 


Leopoldo Galtieri, 




^eged role in the 




‘dirty war' 

B^hJSr nBl High Cou " judge 
inP r?, rt ?arZ ° n ' Wh ° 15 'HV^tijS- 

ing the disappearance of about 300 
Spanish nanonals in Argentina 
1976 to 1983. saidl 
Interpol to take Mr. Gahi?^! 8 

ss* if he '“-fehor 

(Reuters) 


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Willful Regions Out to Prove the Russian Center Cannot Hold Them 


; By Michael Specter 

New yorL Times Serv ice 

■ IZHEVSK, Russia — Ask most Rus- 
sians about this grimy old center for 
■gunsmiths and ironmongers and you can 
expect a long, blank stare. Few know it 
was once a mighty seat of war: the 
thunderous cannons that drove Napo- 
leon from Russia were made here, and in 
■time the city’s factories graduated to the 
Kalashnikov rifle and the ballistic mis- 
sile. 

For decades, the region around 
Izhevsk, known as Udmurtiya — 

closed, snowbound and forgotten 

was simply another Soviet secret that 
nobody wanted to know. Not any more, 
though. 

When President Boris Yeltsin de- 


livered his first major address in nearly a 
year, on March 6, his main theme was 
the bold and increasingly common re- 
fusal of many of the country’s 89 re- 
gions to pay their taxes and adhere to the 
laws of the land. 

"Listen to my warning." Mr. Yeltsin 
rumbled in the speech to the nation, 
singling out Udmurtiya for special 
blame. “You have to abide by the law 
whether you like it or noL I have the 
willpower to make the whole country 
comply with the Russian Constitu- 
tion. ' * 

Suddenly, this area at the edge of the 
Urals, 1 .040 kilometers (650 mites) from 
Moscow, has become the focal point of a 
fundamental and divisive debate about 
the borders of federal and regional 
power in this vast, unsteady land. 


Missile Deal With Russia 
Sharpens Defense Dispute 


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By Bradley Graham 

WtuUngUvt Rost Service 

WASHINGTON — For the Clinton 
administration, the U.S. -Russian agree- 
ment on missile defense reached last 
week provides welcome clarity after 
years of ambiguity on treaty obliga- 
tions, opening die way for broader deals 
on nuclear arms reductions and NATO 
expansion. 

For leading congressional Republi- 
cans. the accord concluded by President 
Bill Clinton and President Boris Yeltsin 
in Helsinki jeopardizes U.S. military 
forces by needlessly constraining de- 
velopment of that category of anti-mis- 
sile systems intended to protect U.S. 
service members in the field. 

Both sides traded arguments this 
week over the substance and signific- 
ance of the agreement White House 
officials accused their Republican crit- 
ics of misrepresenting the accord's his- 
torical background and future impact. 
The Republicans pressed their case that 
U.S. security was being undermined by 
compromise with the Russians. 

On one level, the dispute seemed to 
be an arcane one over complicated fu- 
turistic systems that might not ever ma- 
terialize. But as suggested by the fierce- 
ness of the argument, the issue involves 
more than anti-missile shields. 

. At root, according to experts in both 
camps, is whether die 1972 Anti-Bal- 
listic Missile Treaty can still function as 
a cornerstone of Wasbington-Moscow 
Relations or should be scrapped to allow 
for new defensive weaponry. “Behind 
all this is a doctrinal dispute.” a White 


House official said. “Critics of last 
week's accord are opposed in principle 
to an approach that would try to shore up 
the ABM Treaty. Things have been so 
polarized and politicized for so long, it 
would have been difficult to come up 
with any agreement that would have 
avoided criticism.” 

What Mr. Clinton and Mr. Yeltsin 
announced Friday was an agreement in 
principle for resolving the question of 
where to draw the line between a na- 
tional missile defense system, which is 
restricted by the ABM Treaty, and in- 
creasingly powerful “theater” systems 
for guarding against a shoner-range 
missile attack, which do not come under 
the treaty's purview. 

The Clinton administration has tried 
for years to negotiate with Moscow a 
clearer distinction between the two 
kinds of systems to avoid any percep- 
tion that die ABM Treaty was being 
violated by sophisticated theater sys- 
tems now under development. But con- 
gressional Republicans have disputed 
die need for a demarcation agreement, 
worrying that any deal would place too 
many limits on development of either 
theater or strategic missile defenses. 

“If allowed to stand, this agreement 
will place the lives of our brave fighting 
men and women — and ultimately mil- 
lions of Americans — in jeopardy," 
Newt Gingrich, the House speaker, de- 
clared in a statement released Sunday. 

Senior Senate Republicans, who also 
have been suspicious of the U.S.-Rns- 
sian talks, have yet to comment on the 
accord. But several aides who specialize 
in defense issues predicted a struggle for 


Under die Communists. Moscow 
simply took what it needed from places 
like Udmurtiya. with its enormous oil 
reserves and seemingly endless stands 
of lowering, virgin forest. People 
thought democracy would be different. 

So far, apart from boom cities like 
Moscow or Vladivostok, not much has 
changed. Regions like Udmurtiya are 
frustrated by idled factories and enraged 
by the federal government's inability to 
help — to pay wages and pensions, build 
housing, maintain hospitals and roads. 

So they are increasingly running away 
from the Kremlin, openly spuming Rus- 
sia’s ambiguous new constitution, with- 
holding taxes and dismissing local lead- 
ers elected by the people. 

The tension between the center and 
the regions has become drastically 


heightened this year. A one-day national 
strike to protest the more than $10 bil- 
lion in wages and pensions that have not 
been paid is scheduled by political and 
labor leaders for March 27. 

Of the Russian Federation’s 89 re- 
gions, 21. like Udmurtiya, are classified 
as republics. Not one region has received 
the federal money it needs to pay pen- 
sions and salaries for essential workers. 
Only 10 have delivered their required 
share of tax revenue to Moscow. 

This tiny republic is not alone in 
openly defying the president- The com- 
bative governor of the strategically es- 
sentia] Primorski region in the Far East 
has carried on a public border dispute 
with China, although Moscow long ago 
said the fight was over. 

In early March, the governor of Tula, 


only 160 kilometers from Moscow, is- 
sued the most blatant challenge yet to 
Mr. Yeltsin. 

“If by next week we don't get money 
to pay our salaries, we will no longer 
deliver taxes to Moscow," said Nikolai 
Sevruygin. who later postponed the day 
of reckoning until after the strike. 
“Then we will see who can’t live with- 
out whom: tire regions without the cen- 
ter or the center without the regions.” 

This is one of the principal issues 
facing Russia today, and it is unlikely to 
disappear soon. 

One of the country’s best-known en- 
emies of democracy — Vasili Star- 
odubtsev, who helped lead the attempt- 


Mikhail Gorbachev, in 1991 — was 
recently elected as Mr. Sevruygin ’s re- 



ErnicnOttvcnAfTkc Acneutcd Pia 

FAMILIAR HAUNTS — Sitting in the same hall where the Treaty of Rome was signed 40 years ago to 
establish wbat became the EU, its foreign ministers met Tuesday in Italy for a commemorative ceremony. 


the administration in the Senate. 

Administration officials portrayed 
the agreement as largely conforming 
with a demarcation standard already en- 
dorsed by the 1996 Defense Autho- 
rization Acl That standard would ex- 
empt the Pentagon's theater systems 
from ABM Treaty coverage as long as 
they were not tested against a missile 
with a range greater than 3,500 kilo- 
meters (2,1 00 miles) or a velocity great- 
er than 5 kilometers per second 


But opponents of a demarcation deal 
have never accepted this standard, ar- 
guing that the ABM Treaty was written 
for strategic systems and was never in- 
tended to impose restrictions on theater 
systems. “The entire distinction be- 
tween theater and strategic in this field 
is an arbitrary one." said Baker Spring 
of the Heritage Foundation. “If we were 
to do this on the basis of threat as- 
sessment and military strategy and tech- 
nology, we’d never distinguish.” 


Critics also focused on a new pro- 
vision in the Climon-Yeltsin accord that 
would prohibit development, testing or 
deployment of space-based theater an- 
timissile interceptors. They also took 
issue with language stipulating that 
neither the United States nor Russia 
“has plans for” theater systems with 
land- or air-based interceptors faster' 
than 5.5 kilometers per second or sea- 
based interceptors faster than 4.5 ki- 
lometers per second. 


placement as Tula's governor. Another 
longtime Communist was elected gov- 
ernor in Amur, in the Far East. 

Resolving these conflicts, as Anatoli 
Chubais, recently appointed as first 
deputy prime minister, has said, will 
help decide “the face of the nation." 

To many people, this battle seems 
mundane, but it would be hard to over- 
state its importance. The increasingly 
rancorous debate about who has power 
in Russia is really a debate about what 
kind of country Russia is going to be- 
come. 

“To permit local power is to permit 
people to be free," said Andrei 
Polyakov, chairman of the committee 
on local government in the lower house 
of the federal Parliament. “This is not 
the time of the czars. This is not the time 
of the Soviets. We are a democracy and 
democracies let everyone speak for 
themselves.” 

It has been a very hard lesson to digest 
at ail levels. Regional leaders fear local 
mayors and contend that they divide 
power and that the country is not ready 
for such division. 

In Udmurtiya, the regional Parlia- 
ment disbanded all such city leadership. 
The Constitutional Court in Moscow 
ruled that the action was against the law. 
The leaders here ignored the ruling. Mr. 
Yeltsin issued a decree. Nothing 
happened. Even the president’s speech 
to the nation was censored here. 

“They talk about how we are not 
ready for self-government here.” said 
the mayor of Izhevsk. Anatoli Saltykov. 
“What they mean is they are not ready 
to share power with democrats." 

"All we seek is government of the 
people, for die people and by the 
people,” said Alexander Barzenkov, a 
leader of the regional legislature. 

* ‘What we are saying to the center is let 
us alone, and we will help people live 
better lives." 

If only it were that simple. 

The real fight here is about who con- 
trols the enormous wealth of this coun- 
try. When the Soviet Union dissolved, 
many parts of Russia itself began to talk 
about independence — not just 
Chechnya, which has sought indepen- 
dence for centuries, but Siberia and the 
Urals as well. 

Outside Chechnya, nobody is talking 
about actually seceding any more. In- 
stead, the leaders in several regions have 
simply taken power that would otherwise 
belong to mayors and city councils. 

“People have different visions of 
how this country should be run.” said 
Alexander Volkov, the president of Ud- 
murtiya’s Parliament and de facto leader 
of die region. “Even now you have 
debates in the United States about how 
to divide power between the federal, 
state and city governments. Why should 
we not have these questions?" 


i <_ •• i 
• : i/'i 


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Russia-India Reactor Talks Fail 

MOSCOW — Russia and India failed to reach agree- 
ment Tuesday on the sale by Russia of two nuclear 
reactors as Prune Minister H.D. Deve Gowda held talks 
with Russian leaders, the Kremlin said. 

“We did not sign an accord on the nuclear station, but 
decided to speed up the signing,” said a spokesman, 
Sergei Yastrzhembsky. 

Mr. Deve Gowda met with President Boris Yeltsin and 
Prime Minister Viktor Chernomyrdin for talks focusing 
on trade, especially in the defense sector. 

Mr. Yastrzhembsky said that the summit meeting was 
“a big measure of the confidence and closeness in re- 
lations" and that steps would be taken to expand com- 
mercial cooperation, currently worth $2 billion a year. 

Talks on the $2 billion dollar sale of two nuclear 
reactors in the southern Indian state of Tamil Nadu began 
in 1988. (AFP) 

Bern Wont Han Gene-Altered Say 

BERN— The Federal Department of Domestic Affairs 
said Tuesday that it rejected an appeal to ban imports of 
food products containing gene-altered soy, and that such 
products could be imported immediately. 

The Swiss agency said its decision could be contested 
within 30 days. It added that prodaets containing gene- 
altered materials would have to be labeled as such. 

Environmental and consumer groups and some Swiss 
farmers have protested the imports and are expected to 

contest the decision before the highest Swiss court 

Swiss ch ocolate manufacturers are now banned from 
using l ecithin containing gene-altered soy. 

The Swiss Federal Health Agency had approved im- 
ports of products containing gene-altered soy developed 
by a U.S. firm, Monsanto Co., but the domestic affairs 
department postponed a final decision after protests by 
consumer groups. (Reuters) 

No Suspect in Body m Parts Case 

BRUSSELS — The man leading a police search for a 
serial killer in Belgium denied Tuesday that a suspect had 

been identified. , . . _ 

The hunt began after the discovery in the southern town 
of Cuesmes of trash bags containing the surgically 
severed Body ports of four women. ... „ 

The public prosecutor of the nearby town of Mons. 
Pierre Hon ore, told RTBF television. “At the moment, 
we have no objective evidence that allows us to follow up 
this lead." . . . 

Belgian media reported earlier that police mqtn neswere 

focused on a man who had contacted them m a different 
part of the country before attempting to kill fomseli- 
The police have found 1 1 trash bags contemmg lmihs- 
So for, no heads and only one torso have been found. 

“We can say almost certainly it was the workot one 
person,” Mr. Honore said, noting the precise and identio- 
id way in which the bodies had been cut up- (Reuters) 

Jail Sought for Madrid financier 

MADRID — The National Court 
would decide by Wednesday whether to immediately jaU 

the convicted Banesto financier Mano Conde- 
A National Court judge, Jesus Santos; asked 
to order Mr. Conde jailed immediately. 
tty to -leave the country after being sentenced last week to 

^M^iSe^^coavicted last weck .^ ra S^ £ ^*| 

not leave f^ecountry to avoid impnsonmen 
Press news agency reported- 


Germans Seek to Curb 
Jewish immigration 


Reuters 

BONN — German conser- 
vatives called Tuesday for a 
limit on Jewish immigration 
from the former Soviet Union, 
prompting a comparison with 
the Nazi era from the Jewish 
community and criticism 
from opposition politicians. 

Wolfgang Zeftimann, a 
member of the Christian So- 
cial Union patty in Chancel- 
lor Helmut Kohl’s coalition, 
said increasing unemploy- 
ment in Germany and what he 
called increasing abuse of the 
immigration procedure meant 
it was time to reconsider cur- 
rent practices. The proposal 
also is contained in a paper 
being drawn up by a working 
group of legislators from the 
CSU and Mr. Kohl’s Chris- 
tian Democratic Union, ac- 
cording to media reports. 

Mr. Zeitlmann, the CSU’s 
parliamentary spokesman on 
domestic policy, said the gov- 
ernment should talk with 
Jewish leaders and agree to 
limits cm tire immigrants. 

But the leader of Ger- 
many’s Jewish community, 
Ignatz Bubis, said he would 
never participate in such talks. 
He said he would feel like a 
Jewish leader in wartime Po- 
land negotiating with the 
Nazis about how Jews should 
be treated. “I certainly won’t 
hold any talks like those,” 


Mr. Bubis said on Southwest 
German Radio. “I won’t 
speak to any government 
about how many Jews I think 
should live in Germany.” 

The controversial proposal 
first surfaced in news- 
magazines this week, and on 
Tuesday Mr. Zeitlmann said 
in a newspaper interview; 
“The humanitarian intake for 
Jews can't go on forever. It 
will have to be brought to an 
end again.” 

Mr. Kohl agreed in 1990 
with the Central Council of 
Jews in Germany to Cake in an i 
unlimited number of Jews 
from tite Soviet Union. Ger- 
many’s Jews hoped the move 
would breathe new life into a 
community practically wiped 
out by the Nazi Holocaust. 

“The chancellor and the 
premiers of our regional 
states granted the request 
from the Central Council of 
Jews to revive the Jewish 
communities,” Mr. Zeitl- 
mann said. “Now an upper 
limit must be agreed with 
Herr Bubis.” Some opposi- 
tion politicians termed the 
proposal an attempt to find 
scapegoats for Germany’s 
high unemployment “The 
Christian Democrats want to 
distract from their failings in 
social and economic policy,” 
Volker Beck, a spokesman 
for the Greens, said. 





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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


EDITORIALS/OPINION 


Ilcralb 



pvTiusHKn wnn Tint new york timks and thk Washington post 


Sribunc From the Marshall Plan to True Globalization 


Civilian Rule for Turkey 


The Turkish general staff in recent 
weeks has all but put the country's 
Islamic-led government on notice ifaat 
the military will seize power if Turkey 
continues to drift away from its secular 
political traditions. While the generals’ 
defense of secularism appeals to many 
Americans, the United States should 
recognize that another period of mil- 
itary rule in Turkey would do more 
harm than Egood. Washington needs 
to make clear that it favors civilian 
governance and would be obliged to 
distance itself from any military-dom- 
inated regime. 

Prime Minister Necmettin Erba- 
kan’s Welfare Party, representing one- 
fifth of the electorate, has rashly chal- 
lenged the rigidly secular ground rules 
decreed by Mustafa Ketnal Ataturk, 
die founder of modem Turkey seven 
decades ago. The party's initiatives, 
such as relaxing restrictions on reli- 
gious displays in public places, have 
made many secular Turks uneasy. 
These policies have particularly 
alarmed the military, which Turkey’s 
constitution entrusts with defending 
the secular system. In response, Tur- 
key's generals have warned the gov- 
ernment that it must aggressively en- 
force secular laws, including some that 
have long been ignored. 

In a country where the generals have 
staged three coups since 1960. the 
threat of military rule must be taken 
seriously. Those concerned with de- 
fending secularism ought to consider 
the contribution that (hose coups have 
made to shaping the unappealing polit- 
ical choices Turkey now confronts. 
The secular parties favored by the mil- 
itary have failed to establish deep pop- 
ular roots. They are increasingly per- 
ceived as aloof from the problems of 
ordinary Turks and consumed by per- 
sonal vendettas and corruption. In con- 
trast. Mr. Erbakan's Welfare Party has 
increased its base of support by provid- 
ing relatively clean and effective mu- 
nicipal government in many of Tur- 
key's largest cities. 

The Welfare Party now rules in co- 


alition with the True Path Party, led by 
Tansu. Ciller, a former prime minister 
who represents some of the least at- 
tractive features of the old secular 
political order. After worrisome early 
overtures toward Iran and Libya, the 
coalition has pursued pragmatic for- 
eign policies, including close military 
cooperation with Israel and the United 
States. But internally it has been a tense 
alliance, with each side looking for 
chances to shove the other aside. 

A mili tary intervention would pre- 
sumably evict Welfare from power in 
favor of True Path or its secular rival, 
the Motherland Party. While this might 
look superficially reassuring to Wash- 
ington, it would in many ways make 


ington, it would m many ways make 
matters worse. 

Washington's goal is to keep Turkey 
oriented to the West, including NATO, 
to which it belongs, and the European 
Union, which it has long hoped to join. 
But the powerful army, militantiy na- 
tionalistic and prone to wholesale hu- 
man- rights abuses, is itself a major 
obstacle to closer Turkish integration 
with Europe. Army leaders have re- 
sisted compromise with Greece over 
Turkey’s 20-year occupation of north- 
ern Cyprus and have managed Tur- 
key's brutal suppression of the Kurds. 

Pushing aside Islamic politicians 
like Mr. Erb akan who are willing to 
play by democratic rules would prob- 
ably radicalize Turkish Islamic pol- 
itics. Ii would also send the wrong 
message to the secular parties, which 
need to overcome their petty rivalries 
and rebuild popular support. 

Turkey's location at the crossroads 
of Europe, the Mideast and Central 
Asia — and its huge army, the largest 
among NATO's European members 
— malm it a pivotal factor in American 
foreign policy. Washington would un- 
derstandably prefer a solidly secularist 
government. Bur for practical as well 
as principled reasons, the United States 
should support democratic solutions to 
Turkey's problems rather than those 
imposed by force. 

—THE NEW YORK TIMES. 


P ARIS — The OECD is often re- 
ferred to as the legacy of the Mar- 
shall Plan because it evolved from the 
Organization for European Economic 
Cooperation, which was set up to ad- 
minister the Marshall Plan in 1948. But 
there is a legacy far more important 
even than the institutions that grew 
from the plan, and more lasting even 
than the physical infrastructure built 
from the investment of the billions of 
dollars administered under it 
That legacy is the vision that lasting 
peace, prosperity and security may be 
defended through military prowess but 
can be acquired only through economic 
development and cooperation, indeed 
through economic interdependence. 

And feat vision must be carried for- 
ward to future generations not only in 
Europe, but all over the world. 

The British historian H. A. L. Fisher 
wrote in 1936 that no question would 
be “more pertinent to (he future wel- 
fare of foe world than bow foe nations 
of Europe, whose differences are so 
many and so inveterate, may best be 
combined into some stable organiza- 
tion for the pursuit of their common 
interests and foe avoidance of strife.'' 

A few years later came the horrors of 
World War H, and the world would 
never be the same. What happened in 
the aftermath of that war could not have 
found its place within the most am- 
bitious flights of imagination of the 
world leaders of the 1930s. 

Certainly the funding under the Mar- 
shall Plan made an enormous contri- 
bution to European reconstruction and 
to unity, but the OEEC played a much 
broader role. The fundamental under- 
standing that economic development 
depended on cooperation, on foe in- 


By Donald Johnston 


terdependeoce of trade and investment 
across the European community 
through liberalization of markets, in 
short on the notion of a folly integrated 
economic community — these were 
the forces and foe philosophy under- 
pinning European unity. 

It required more: the catalytic role of 
visionaries in a position to make things 
happen, among them George Marshall 
himself. And it was Jean Monnet who 
saw that economic interdependence 
was the key to peace, security and 
prosperity. 

Monnet conceived the Coal and 
Steel Plan for Western Europe as a 


The answer is in the other offee 
Marshall legacy, the work of fo e OEEC 
and now of foe OECD. 

The world has exploded with eco- 
nomic growth and technical achieve- 
ments not dreamed of even a generation 
or two ago. The market system, which 
was not understood before Adam Smith 
and hardly existed before the 18fo cen- 
tury, has transformed our societies. 

It engaged, even destroyed tradi- 
tional think ing; it drove innovation, 
fee “creative destruction” of Schum- 
peter. It resulted in accelerating change 
and economic growth on a scale never 


happened in Europe must now happen 

to the world. . , 

A global economy of trade and in- 
vestment should mean that no onewfll 

be left behind, that there could be glob- 

al security, that foe hunger, misery and 
disease of foe developing world can be • 
addressed inaway and ataspeeansver; 
im’ooinpA hv nrevious generations. 5 


before imagined. Per capita income 
growth from 1500 to 1820 was only 
one-thirtieth the annual growth 
achieved since 1820. 

The magic of the market system has 
accelerated the material progress of foe 
h uman race. Creative destruction — 
innovation — has reached the point at 
which some computers become obsol- 
ete in 18 months. This has been made 
possible by foe increasing liberaliz- 
ation and reform of inhibiting lawns and 
regulations that prevented market 
forces from working. 

In terms of the Marshall Plan, I be- 
lieve foe legacy is foe lesson. Europe 
has risen from foe ashes of war because 


I believe that we are 
on the threshold of a 
global revolution. 


modest building block toward a united 
Europe. But U.S„ Secretary of State 
Dean Acheson noted that, far from 
modest, it was “in reality imaginative 
and far-reaching*' because it picked 
out the ba«ic materials of Europe's 
industrial economy, coal and steeL, and 
put them ‘ ‘under foe supranational con- 
trol of an organization of the partic- 
ipating European states.” 

The ECSC became foe European 
Community and then the Union. 

Why did it take Europe so long to 
recognize that economic integration, 
and not political or military domination 
or interrelated royalty, would provide 
the unity sought for hundreds of years? 


of foe positive interplay of economic 
interdependence and foe recognition 


interdependence and foe recognition 
that foe prosperity of each country de- 
pends upon foe prosperity of trading 
partners. The future ties in creating 
wealth through those relationships, 
with good governance ensuring an 
equitable distribution of that wealth 
within each society. 

Today that lesson serves as a ref- 
erence point for moving toward an age 
of true globalization. What has 


tempt to do within 

nation-state, namely, ensure foat foe. 

demonstrable benefits of foe market 

system accrue to society as a whole. The k 

lessons drawn from foe European ok - r 
perience, from the Mareball Plananjilsr-- 
acknowledged success, ment reflection 
and celebration now, 50 years later. 

Because of what we have learned 
from the notion of economic interde- 
pendence, I believe that we are on foe 
threshold of a global revolution. The. 
benefits of a global marketplace, com- : 
bined with effective international m-' 
stit ati ons, will set humanity on a course 
of increasing prosperity through tech- 
nological innovation and s ocie tal evo-. . 
hition that we can scarcely dream of, 

The competition of goods and. ser- 
vices, combined with foe competition 
of ideas, scientific research Mid de- 
velopment, hold out the prospect, of 
changes within years that centuries- 
have not accomplished. 

Ffank Scott, foe late Canadian teadh i 

er and poet, wrote: * ‘The world is my ft 
country. The human race is my race.’: 
When foal becomes a conviction of all 
mankind, the Marshall vision will have . 
been fulfilled. - 


The writer is secretary-general ofthe 
OECD. He contributed this comment to 
the international Herald Tribune. 


India: People Are Determined to Speak Their Minds Plainly 


S ARILA, Uttar Pradesh — 
Sarila is a farm town with- 


China Needs Reforms 


Vice President Al Gore is in China, 
the highest-ranking American official 
to visit Beijing since the 1989 Tianan- 
men massacre. The very fact of his visit 
will be useful to China's leaders, now 
struggling for legitimacy in the wake 
of Deng Xiaoping's death. His de- 
liberate decision not to visit Hong 
Kong, where freedom is threatened by 
an imminent Chinese takeover, is help- 
ful to those leaders, too. And his par- 
ticipation in a signing ceremony for 
China’s purchase of Boeing jets risks 
reinforcing an impression that com- 
mercial interests trump ail in U.S. 
policy toward China. 

So it is important that Mr. Gore send 
a few other signals, too, privately and 
publicly. One concerns Hong Kong, 
the British colony that reverts to China 
on July I . Already a puppet legislature 
has decided to roil back basic free- 
doms, despite Chinese promises to the 
contrary, Mr. Gore should stress that 
civil rights and democracy in Hong 
Kong are important to the United States 
— important enough to call into ques- 
tion a visit to Washington by Chinese 
President Jiang Zemin next fall if 
China keeps to its current course. 

The Clinton administration, revers- 
ing its 1 992 campaign pledge, has “de- 
linked” trade and human rights; we 
don’t expect another U-tum now. That 
being the case, though, the United 
States has all the more obligation to 


grass-roots movements, and eloquent 
environmentalists such as Dai Qing are 
not allowed to speak or write for do- 
mestic consumption. 

Much has been written about the cur- 
rent campaign money scandal as a com- 
plicating factor in Mr. Gore’s visit and 
in U.S. -Chinese relations. Advocates of 
“engagement” treat allegations of 
Chinese influence peddling as an ir- 
relevant distraction that might unfor- 
tunately discourage the administration 
from promoting warmer ties. Our view 
is that if China did indeed seek, illegally 
and secretly, to manipulate the U.S. 
political system — and the allegations 
are far from proven — that would be a 
relevant fact in shaping U.S. policy. 

The point is that engagement and 
dialogue are fine not as goals in them- 
selves but at least in part as a means to 
get China to change some of its more 
dangerous ways. China today remains 
a totalitarian, one-party state where 
dissent is ruthlessly crushed. Economic 
liberalization and growing prosperity 
have created an opening for possible 
gradual democratization and advance 
of foe rule of law. But. Bill Clinton’s 
cheery prognoses notwithstanding, 
such advances are not inevitable. It is in 
America's (as well as China’s) long- 
term interests to work for them. 

— THE WASHINGTON POST. 


w3 Sarila is a farm town with- 
out electric power, telephones, 
sewage or enough water for its 
fields. But. like hundreds of 
thousands of Indian villages 
and towns, its people have a 
growing supply of what makes 
the country so different from 
other poor nations and can turn 
out to be its salvation — the 
determination to speak their 
minds plainly, to say what they 
want, and what they despise. 

The town is tucked into a 
corner of Uttar Pradesh, which is 
stuffed with 140 milli on people. 
That means about one Indian in 
six lives in Uttar Pradesh, and it 
is not doing at all well. 

Nobody knows who is in 
political charge from week to 
week, or for what purpose other 
than power. High officials whip 
around foe countryside in 20- 
car motorcades while the police 
clear roads and stop airport 
traffic for them. Highway ban- 


By A. M. Rosenthal 


dits are so close to some politi- 
cians feat it is hard to tell the 
difference between them, and 
barely worth the trouble. 

The openness of Sari Ians is a 
tribute to India’s freedom of 
speech and to their own insist- 
ence on expressing their mind. 
Concise, politically sophisticat- 
ed opinions seem genetic in In- 
dians of the countryside. 

For a couple of days I wan- 
dered about Sarila with that 
great correspondent John 
Burns, the New York Times bu- 
reau chief in India, and Nar- 
endra Singh Sarila. His family 
were the maharajahs hereabout 
before India became independ- 
ent He and his wife. ShefaJi 
Kunwar, live in an airy, hand- 
some mansion. But he neither 
has nor seeks political influence 
other than trying to persuade 
slate officials that from time to 
time they ought to mix their 


pomp and pomposity with some 
attention to what people need. 

What the people here say 
they want most is more water. 
Their crops and businesses, 
therefore their lives, depend on 
it for irrigation. In centuries of 
colonialism, princely rule and 
now 50 years of independence, 
they have not received it. 

New Delhi is only about 280 
miles (450 kilometers) away, 
but it took an hour by plane 
(after foe airports were made 
available to common folk) and 
four hours over rutted roads to 
get here. Roads are something 
else Sarilans want and need — 
to connect them to other towns, 
bring jobs and commerce. 

Commerce — despite foe so- 
cialist rhetoric they heard for so 
long, Indians are most passion- 
ately commerce-minded peo- 
ple. The roads are for travel, of 
a sort, but foe roadside is for 


commerce: buying, selling, 
makin g, fixing — foe spicy, 
clanging business of life. 

In Sarila we talked with the 
owner of a spare parts shop. He 
services fanners whose families 
have saved the 50 percent down 
payment for small tractors and 
sweat to pay the 14 percent in- 
terest on the rest — all told 
about $7,000, for millions, of 
Indians a lifetime income. 

We asked how they felt about 
foreign investments and im- 


ports. Lots of nods, and fromone 
farmer an answer right out of the 


farmer an answer right out of the 
Wharton SchooLput politely but 
as to a dullard: They bring jobs 
and better products, like Mobil 
oil for tractors, he said. 

They talk about their coun- 
try’s foreign policy. At a meet- 
ing of villagers, one man burst- 
ing with questions demanded to 
know why the United States let 
China get away with selling 
magnetic rings for nuclear 
weapons to Pakistan. 


I mentioned that Prime Min- 
ister H. D. Deve Gowda saidbe 
was absolutely sure foe Chinese 
would never attack India as they 
did in 1962. Show of hands. 
Four thought he was right Al- 
most all tite 70 others voted tha^ 
he was wrong. J 

But it was the intellectual 
honesty of Sripat Sahayni, 
headmaster of the public ele- 
mentary school, that made me 
leave Sarila whistling with hope 
eternal. He said foe government 
monthly gave parents $1 1 in ru- 
pees and three kilos of grain for 
every child in school. Then he 
volunteered that many parents 
sent their children to theprivate 
school of the Hindu nationalist 


party. Bharatiya Janata, sacri- 
ficing foe bonus and paying 


fitting foe bonus and paying 
some tuition. 

How come? • 

“Perhaps,” he said pleas- 
antly, “there is some advantage 
there in better teaching.” r 
The New York Times. 


Korean Peninsula: Pragmatic Multilateralism Is Working 


N EW YORK — Events on 
the Korean Peninsula have 


By Stephen W. Bosworth 


speak up for human rights in noneco- 
nomic forums. Mr. Gore should make 


Other Comment 


nomic forums. Mr. Gore should make 
clear that the West will promote a 
strong resolution at the UN Human 
Rights Commission in Geneva laier 
this month condemning China’s sorry 
record, unless there is real and sub- 
stantial progress. This would include 
not only releasing political prisoners 
(who number in the thousands) but also 
ratifying UN human rights conven- 
tions. allowing Red Cross access to 
prisons and labor camps, and opening 
Tibet and Xinjiang (where minority 
rights are suppressed) to journalists 
and human rights observers. 

Mr. Gore wants to talk about the 
environment; China, by vimie of its 
sheer size and rapid economic growth, 
is already a leading polluter (although 
still trailing the United States in green- 
house-gas emissions). But regimes 
don’t take environmental concerns se- 
riously until citizens have access to 
information and foe right to organize 
around such issues. China allows no 


been much in the news: a North- 
ern submarine in Southern wa- 
ters, high-level defectors from 
Pyongyang, reports of ap- 
proaching famine in the North, 
speculation about the coming 
collapse of foe Pyongyang re- 
gime, and now sortie hope for 
North-South peace talks. 

However, one important sto- 
ry has received little attention: 
the pragmatic multilateralism 


Britain Still Out of Step 


aimed at ending foe threat of 
nuclear proliferation from 


[In 1955.] Britain wanted a tariff- 
free zone that would remain open to the 
Commonwealth and the developing 
world, and which would Dot artificially 
raise food prices. This proposal, 
known as Plan G, was wholly un- 
acceptable to foe Six, and spurred them 
to press ahead with their own plans. 

In 1 962, and again in 1967, Britain's 
applications to join foe EC foundered 
on precisely foe same issues. It was 
only by dropping ail its objections that 
Britain was admitted in 1972. 

Ever since. Britain has sought to ad- 
vance its ideas from within, but Brus- 
sels has continued to agglomerate 
powers, and the other members are as 
committed to supranational union today 
as they were in 1 955. Plan G is no more 
on offer now than then. If we have been 
deluded, we can blame only ourselves. 

— The Daily Telegraph (London!. 


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nuclear proliferation from 
North Korea, and at contrib- 
uting to stability and peace on 
the Korean Peninsula. 

Two years ago. South Korea, 
the United States and Japan set 
up the Korean Peninsula En- 
ergy Development Organiza- 
tion — KEDO — to carry out 
critical provisions of the Oc- 
tober 1994 nuclear deal, called 
the “Agreed Framework.” be- 
tween North Korea and foe 
United States. 

Pyongyang undertook to 
freeze and eventually dismantle 
its national nuclear program. In 
return, Washington, acting in 
concert with Seoul and Tokyo, 
committed to organize an in- 
ternational consortium to fi- 
nance and build two 1,000 
megawatt light water reactors in 
North Korea. 

By virtue of their technology 
and design, plus fell internation- 
al inspections, these nuclear re- 
actors will post a much lower 
risk of proliferation than the gas- 
graphite-moderated reactors 
that Pyongyang was building. 

This deal stipulated that KE- 
DO would deliver 500.000 met- 
ric tons of heavy fuel oil to the 
North annually until the first 
new reactor begins operating. 

Neither the light water re- 
actors nor the heavy fuel oil are 
based on charity. Rather, this is 
the quid for the North's quo of 
halting and eliminating its dan- 
gerous nuclear program. The 
new reactors and the feel oil are 
a cost-effective investment in 
the stability of Northeast Asia 
and foe security of North 
Korea's immediate neighbors. 

KEDO has made good pro- 


is working well with the South 
Korean company, foe Korean 
Electric Power Corporation, 
that is its prime contractor for 
the reactor projecL 

KEDO has negotiated with 
North Korea a supply agree- 
ment and five implementing 
protocols that spell out what 
will be provided to the North 
and fix the conditions under 
which the organization and its 
contractors will work. 

More protocols remain to be 
negotiated, but foe necessary 
political and legal foundation is 
now in place to begin prelim- 
inary construction at the site. 

Had it not been for the in- 
cursion of foe North Korean 


Thousands of 
South Koreans will 
i vork side by side 
with North 
Koreans . 


stages of completing an agree- 
ment with foe European Union 
under which foe Union will join 
the organization and become a 
member of its executive board. 

The light water reactor pro- 
gram that KEDO is implement- 
ing is obviously not a normal 
commercial nuclear power pro- 
ject Building nuclear reactors 
is a technically demanding en- 
terprise in any circumstances. 
Building them in North Korea is 
truly challenging. 

The submarine incident was a 
sharp reminder that KEDO does 
not exist in a political vacuum: 
events over which we have no 
control affect our work. 

Negotiating with Pyongyang 
is not easy, but the relationship 
is businesslike and largely free 


of acrimony and political po- 
lemic. It is based on a strict 
reciprocity of commitment and 
verification. Any failure by one 
party to meet its obligations to 
foe other would place the re- 
lationship in jeopardy. 

So far. the North has com- 
plied with its agreements with 
KEDO as well as its nuclear 
commitments under foe agreed 
framework. They include al- 
lowing inspections by the In- 
ternational Atomic Energy 
Agency and the canning of dan- 
gerous spent fuel rods from the 
old reactors. AH KEDO per- 
sonnel who have traveled to the 
North. South Koreans as well as 
Americans and Japanese, have 
been treated courteously. 

For the three countries that 
created KEDO. foe organiza- 
tion has been a success. First 
and foremost, the North’s dan- 
gerous nuclear program re- 
mains frozen. 

In a few years, as work in 
building the light water reactors 
progresses, the International 
Atomic Energy Agency will 
conduct a special inspection to 
clarify what the North did with 
its spent reactor fed from the 
past. If feat inspection con- 
cludes satisfactorily, light water 
reactor construction will resume 
and the North Koreans will pro- 
ceed with a phased dismantling 
of their now frozen nuclear 
plants and related facilities. 

In less than two years, KEDO 
has become an important fea- 
ture of the political landscape of 
the Korean Peninsula and 
Northeast Asia. It stands as a 


gress since August 1995 when 
its international staff in New 


its international staff in New 
York began work. Today foe 
organization is in the middle of 
its seventh technical survey- of 
foe proposed reactor site on 
North Korea's east coast It also 


submarine into South Korean 
waters in September and 
KEDO’s subsequent suspen- 
sion of direct contact with 
Pyongyang on foe reactor pro- 
jecL work would already have 
begun. After foe North’s state- 
ment of regret in December for 
the submarine incursion. 
KEDO has re-engaged with 
Pyongyang and hopes to begin 
work at the site late this spring. 

KEDO has continued to ful- 
fill all its obligations to deliver 
heavy feel oil to North Korea, 
although with difficulty be- 
cause of a chronic shortage of 
funds. Last year we provided 
the 500,000 metric tons called 
for in the agreed framework. 

We have begun to make the 
deliveries required for 1997. but 
we are heavily burdened by out- 
standing suppliers’ credits and 
other debts incurred last year. 

We are continuing to verify 
that the heavy fee) oil is used 
only to generate heal and elec- 
tricity as specified in the orig- 
inal 1994 nuclear deal. 

KEDO's membership has ex- 
panded. Including foe three 
founding governments, it has 
1 0 formal members, while other 
countries have made financial 
contributions. We are in the last 


functioning model of multilat- 
eral action in a region where 
such action has been rare. 

The three founding members 
of the organization share major 
interests. But each also has im- 
portant national interests that 
may not always be identical to 
those of the other two. KEDO 
has become an important mech- 
anism for coordinating and har- 
monizing South Korean, Jap- 
anese and American interests 
and policies. 

The need to cooperate within 
KEDO strengthens coordination 
among the three countries on the 
fell range of issues involving foe 
future of the peninsula. 

For the United States, KEDO 
provides an opportunity to 
demonstrate political leader- 
ship in response to a threat of 
nuclear proliferation as well as 
on broader issues involving 
North and South Korea. 

For Japan, KEDO constitutes 
an effective political response 
to an acute threat to Japan's 
national security and the sta- 
bility of its immediate neigh- 
borhood. It is also a concrete 
example of the potential for 
U.S.-Japanese cooperation on 
regional matters. 

For South Korea, KEDO is a 


vehicle for dealing with the 
North on a set of critical se- 
curity and political issues in a 
way that guarantees the South a 
direct role. In KEDO's dealings 
wife Pyongyang, Seoul has 
both a seat at foe negotiating 
table and a central voice. 

However, the organization is 
not a substitute for broader 
North -South dialogue. Our work 
would be much easier if such a 
dialogue were under way. 

Until that time. North and 
South Koreans deal with one 
another regularly through KE- 
DO. and as our work proceeds 
thousands of South Korean en- 
gineers and technicians will 
work side by side with thou- 
sands of North Koreans on the i 
construction of foe light water ® 
reactors in the North. 

If the organization completes 
its original task, it will have 
promoted greater North-South 
interaction as well as stability 
on the peninsula and in-the 
wider Asia-Pacific region. 


The writer, a former US. am - . 
bassador to Tunisia and the 
Philippines, is executive direc- 
tor of KEDO. He contributed 
this comment to the Interna- 
tional Herald Tribune. 


IN OUR PAGES: 100. 75 AND 50 YEARS AGO 


1897: Book Prudes 


PARIS — - [The Herald says in 
an Editorial:] Signor Gabriele 
D'Annunzio’s works are well 
received in his own country, but 
a few prudes in America, 
headed by Mr. Anthony Corn- 
stock. are endeavoring to pre- 
vent their sale. The publisher of 
the English translation of his 
Trionfo della Morte has been 
brought before a police court. It 
is not likely that Mr. Comstock 
will succeed in his attempt. 
Such a distorted view of great 
literary works, if enforced, 
would prevent foe publication 
of the best-known classic gems 
of literature in all languages, 
and even foe Bible would have 
to be expurgated. 


after date is the first to discover 
a medicinal treatment for foe 
effective cure of cancer” has -A. 
been made by Lord Atholszan, 
proprietor of the Montreal 
"Star.” The decision is to be 
made by the Royal College of 
Physicians and Surgeons* Lon- 
don. The offer, which was made 
“to help in stimulating the work 
of research throughout the 
world,” may be renewed. 


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1947s Soviet Menace 


WASHINGTON — Fonner 
Ambassador to Moscow Willi- 
am Bullitt has told the House 
Com mmm ee on Un-American 
Activities foal if Russia had an 
atomic bomb “it already would 


1922: Cancer Appeal 

MONTREAL — An offer of 
SI 00,000 “to foe graduate or 
student of any recognised uni- 
versity who within five years 


nave been dropped on theXJnited 
States.” Mr. Bullitt earlier told 
foe committee that the .Commu- 
nist party is foe Soviet agency 
designed to weaken the United 
States “for an ultimate assault 
foe Soviet government intends 
to make on the United States.” 


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JHis Plain}! 


Tfee Internet Goes on Trial, and So Does Democracy 

u a mr?n 117 ... 


C ASPER. Wyoming — The Internet. 

the most important development in 
mass communications since the invention 
of the printing press, was on trial last 
week. And the U.S. Supreme Court was 
packed with spectators as oral argument 
began in the challenge to the Commu- 
nications Decency Act — the first attempt 
by Congress to regulate speech in cy- 
berspace. 

Above the raised bench where the 
justices are seared, a sculpted marble pan- 
el of bare-breasted women and naked 
cherubs looks down upon the courtroom. 
The justices are hearing a challenge to a 
law that would prohibit the display of that 
panel on die Internet unless those younger 
chan 1 8 were blocked from seeing it. 

The court’s ruling in Reno vs. the 
American Civil Liberties Union, expected 
in late June, may well define the Internet 
for decades to come. The Internet has the 
potential to allow everyone the oppor- 
tunity to be a publisher. Anyone with 
access to a computer and a modem can 
connect with thousands across the world 
in seconds. Congress and the court could 
crush this democratic medium. 

Deputy Solicitor General Seth Wax- 
man argued for the government He began 
dramatically by stating that “the Internet 
threatens to give every child with access to 
a connected computer a free pass into the 
equivalent of every adult bookstore and 
video store in the country.” 

For the government, it was all downhill 
from there. 

Mr. Waxman had to admit under ques- 
tioning from Justices Ruth Bader Gins- 
burg and John Paul Stevens that the 
Carnegie Library could not put its entire 
card catalog on-line because some of its 
entries might be “indecent” or “patently 
offensive.” It was a startling indication of 
how broadly this decency act can be 
read. 

The justices probed further and found 
that, according to Mr. Waxman, parents 
who allowed their 1 7-year-old to view 
indecent material on the Internet could be 


By Charles Levendosky 


sent 10 jail for two years. And Mr. Wax- 
man admitted that teenagers who com- 
municated their sexual experiences or 
fantasies across cyberspace would also be 
guilty of a federal crime. 

It was then that the government began 
crying “Unde!” Mr. Waxman asked die 
court to narrow the language of the de- 
cency act, so that parents are excluded 
from criminal liability. 

“That would just be grabbing a lim- 
itation out of thin air.” Justice Anthony 
Kennedy responded. Justice David Sourer 
reiterated that the act as written interferes 
“with the relationship between parent and 
child. “ 

Justice Antonin Scalia asked Mr. Wax- 
man about a system to block sexually 
explicit material — tagging each Web site 
so that a software program could block 
any site that carried a warning tag. Mr. 
Waxman. grabbing for any straw, replied: 
“It would be better than what we have 
now, but it would not be either more 
effective or less restrictive than rbe Com- 
munications Decency Act.” 

Again, Mr. Waxman asked the justices 
to narrow the meaning of the decency act. 
Justice Gins burg was not sympathetic to 
the government’s request that the court 
“legislate” by changing the language of 
the act: “That kind of tinkering, courts 
won’t do.” 

Bruce Ennis, who represented the 
American Civil Liberties Union and the 
American Library Association, began his 
attack on the decency act by saying there 
are four reasons why it is unconstitutional; 
the act bans protected speech; it will not be 
effective; there are less restrictive altern- 
atives that are more effective; and the 
combination of the vagueness of the de- 
cency standard, “coupled with the threat 
of severe criminal sanctions, will chill 
much speech that would not be inde- 
cent.” 

Justice Scalia leaped in at the sugges- 


tion by Mr. Ennis that it is difficult to use 
age identifications for most of the Internet, 
except for World Wide Web sites; “I 
mean what is wrong with saying, 'Well, if 
you want to use cyberspace you have to 
use the Web?”’ 

Chief Justice William Rehnquist ques- 
tioned whether age identification would 
be economically prohibitive — that it 
would cost the Carnegie Library $1 per 
identification ar its Web site, a cost that 
Mr. Ennis estimated to reach $ 1 00,000 per 
year. "So what." was the gist of Justice 
Rehnquist's response. Justice Scalia 
echoed his colleague. “Well you know, 
that’s tough luck. “ 

Both justices compared congressional 
legislation of the Internet to the govern- 
ment’s early regulation of radio stations. If 

Should cyberspace be 
regulated the same way 
as radio and television? 


a person couldn ’t afford to buy all that was 
necessary to set up a government-ap- 
proved radio station, that person had no 
business in the radio business. 

Justice Stephen Breyer asked Mr. Ennis 
if it would be possible to narrow the act so 
that it applied only to commercial por- 
nographers. 

“It is simply not possible to construe 
the statute that way.” Mr. Ennis respond- 
ed. 

Justice Breyer “How about narrowing 
the definition of what’s patently offen- 
sive?” Again the answer was no. 

Mr. Ennis made his strongest argument 
near the end of his allotted time: “For 40 
years, this court has repeatedly and unan- 
imously ruled that government cannot 
constitutionally reduce the adult popu- 
lation to reading and viewing only what is 
appropriate for children. That is what this 
law does. 

. .Under this law, there is no parental 


choice. The government decides what’s 
appropriate for all 1 7-year-olds. A parent 
who disagrees with the government can- 
not, through the Internet, gain access to 
speech, safer sex information ... to make 
that speech available to the parent’s 17- 
year-olds.” 

The justices in their attempts to gain 
some handle on the multifaceted dimen- 
sion of cyberspace compared it to other 
entities. 

Justices Rehnquist and Scalia created 
the most restrictive and least accurate ana- 
logy, comparing cyberspace to radio. 
Justices Sandra Day O'Connor and 
Kennedy compared it to a public place, a 
street comer or a park. Justice Breyer 
compared the Internet to a telephone. 

Hie model that the justices eventually 
use will define the legal limits on cyber- 
space for decades. In the early days of radio, 
the Supreme Court decided that the air- 
waves belonged to the public, and thereby 
allowed Congress to regulate the new me- 
dium because there was a limited spectrum 
available for radio stations. That is no 
longer true, but the regulations remain. 

That model, “public airways,” has af- 
fected television and even cable TV, 
which doesn’t use the broadcast spectrum 
at all. They are both regulated by the 
government. If the court uses a model 
similar to the one suggested by the chief 
justice, the Internet will be restricted to 
those who have wealth. And the great 
democratic potential of this new medium 
will never be achieved. 

Hie high court will undoubtedly find 
the decency act unconstitutional. 
However, the analogy the court uses to 
discuss the Internet may eventually be as 
damning as if it found the act consti- 
tutional. 

The writer is editorial 'page editor of 
the Casper ( Wyoming ) Star-Tribune . and 
a trustee for the American Library As- 
sodations Freedom to Read Foundation. 
This comment war distributed by the New 
York Times Service. 


LETTERS TO THE EDITOR 


A New Look at Aid 

1 Regarding “ New US. Guide- 
! lines for Providing Humanitarian 
Aid” ( Opinion . March 13) by J. 
V Brian Atwood and Leonard Ro- 
gers: 

* The authors are right to assert 
that "development, democracy 
!.;and full participation in the in- 
ternational community are the 
; best ways to ensure against com- 
plex emergencies." More atten- 
■ tion and more resources must be 


devoted to prevent conflict, cot 
simply bandaging its wounds. It is 
encouraging to hear that this 
thinking is guiding U.S. policy. 

The European Commission and 
others are beginning a review of 
the Lom£ Convention, in which 
the EU channels aid to developing 
countries in Africa, the Caribbean 
and the Pacific. The review is a 
vital opportunity to ensure that the 
convention, the most comprehen- 
sive development agreement in 
the world, includes a focus on 


conflict prevention. 

However, development pro- 
grams are not enough to prevent 
violenoe. Both the United States 
and the EU must work together to 
spot early warnings of conflict. 
Unfortunately, such an approach 
has been noticeable only by its 
absence in Central Africa. 

The EU should make an effort 
to move forward and use not only 
its aid budget, but also its dip- 
lomatic and military resources to 
help ensure that crises like those 


in Central Africa do not happen 
again. 

FRANK JUDD. 
London. 

Germany Can Wait 

• An official of the German cen- 
tral bank says “a delay in mon- 
etary union would be the only 
option if Germany did not strictly 
fulfill the Maastricht conditions” 
( "Bonn May Plead Costs af Unity 
to Join EMU.” March 19). 


A Real Role Model 
Would Stay in School 


By Richard Cohen 


But why not start monetary uni- 
on without Germany? At first, this 
would please the German public, 
whose beloved strong currency 
would shoot up in value, giving the 
participants in the euro a compet- 
itive advantage over their German 
rivals. Then the Germans would 
see that an uncompromisingly 
strong currency is not always a 
blessing, and the euro would not 
look so bad to them any more. 

TOMMASO BESOZZL 
Luxembourg. 


W ASHINGTON — At 14, 
Tara Lipinski won the 
world figure skating title over the 
weekend in Switzerland, making 
her — in the odd formulation of 
one news account — the youngest 
“woman” ever to do so and 
prompting her agent to suggest 
she * 'can be a huge role model for 
kids.” If that’s going to be die 
case, let us hope she stops skating 
and goes right back to school. 

Not a chance, I know. Tara, in 

MEANWHILE ~ 

fact, has three tutors who work 
with her four hours a day and 
since they are paid by her family 
and not, you understand, by the 
county or the state, they probably 
know better than to assign too 
much homework. Anyway, the 
triple toe loop requires little in the 
way of reading comprehension. 

The statistics on Tara are im- 
pressive. Never mind that she is 
but a wee 4 feet, 8 inches (1.4 
meters ) from the top of her blades 
to the top of her smiling head and 
weighs but a mere 75 pounds (34 
kilograms). More to the point, she 
has had an agent since die age of 
13, could make as much as SI 
million in the coming year and 
might, her agent mused, endorse 
products aimed at “women” 
about her age — milk was men- 
tioned. She already endorses a 
line of skating outfits. 

Sadly, it’s likely that my sar- 
casm is wasted. After all, Tara is a 
winner and, at 14, cute as the 
proverbial button. But it is her 
agent's remark about her being a 
role model that both interests and 
appalls me. 

She is nothing of die sort. She is 
a rare success story. The children 
who will emulate her are hardly 
likely to do as well. 

And yet, on any given day in 
America countless children are 
mindlessly swimming laps or 
skating in circles. They are play- 
ing golf, shooting baskets or 
delaying puberty through rigor- 
ous gymnastics workouts. Either 
they believe or their parents be- 
lieve that all this hard effort will 
pay off with incredible fame and 
just as incredible riches. Not so. 

We are told that the odds of a 
high school athlete playing any 
sport professionally are about 
10,000 to one. Yet America be- 
lieves otherwise and among 


blacks, sports has almost a re- 
ligious power, like a belief in 
heaven. Sixty-six percent of black 
teenagers think they can make a 
living ax sports, according to 
Northeastern University’s Center 
for the Study of Sport in Society. 
Today’s Pied Piper is an agent 
with a sneaker contract. 

We know by now that even for 
the successful, early fame is no 
blessing. The recent movie 
“Shine" illustrates the pressures 
put on prodigies — although mad- 
ness is hardly a typical outcome. 
But the music world is familiar 
with fallen prodigies, some of 
whom just stopped playing and 
were heard, and heard from, no 
more. Even some who thrive — 
Jascha Heifetz. Yehudi Menuhin 
— can be accused of lacking 
artistic maturity. 

Show business people tell the 
same tale. A few child actors go on 
to success as adults — Elizabeth 
Taylor and Kurt Russell come to 
mind — but most don't. The 
charm of the artless child is messy 
nonprofessionaiism in die adult. 

True. Mozart was a child 
prodigy and the world is better for 
it. He was composing by the age 
of 5. performing not much later. 
But his gift was so rare that his life 
teaches no lessons. And 
nowadays, we are seeing the 
widespread infantilization of 
sports, a much different story. 
Mozart died young, but unlike 
some sports stars he was not 
washed up at 19. 

What we are really talking 
about here is the near-mad yearn- 
ing of parents to achieve success 
through their children. The most 
horrible example of that caused 
the death of Jessica Dubroff, who 
at the age of 7 was flying across 
the country in a stunt dial amoun- 
ted to nothing less than child ab- 
use. What, exactly, was supposed 
to follow? Endorsements of an 
airplane for children? 

Now it is Tara’s turn for the star 
turn. In the published reports, we 
are assured that all is fine with her 
and that her coaches, agents and 
parents are well aware of what 
could happen. 

But their challenge will be how 
to cope with success and not. on 
account of that very success, the 
challenge of countless other par- 
ents and kids: how to cope with a 
wasted childhood 

The Washington Post. 


BOOKS 


\\ or kirn 


LITERATURE OR 
LIFE 

By Jorge Semprun. Tnmslated 
from French by Linda 
Coverdale. 310 pages. $24.95. 
Viking. 

THE LONG VOYAGE 

[ . By Jorge Semprun. Translated 
from French by Richard 

■ Seaver. 236 pages. Paperback, 
$11. 95 .Penguin. 

■ ■Reviewed by 

'=. Isabelle de Courtivron 

T OWARD die end of “Lit- 
erature or Life,” Jorge 
“Semprun recounts an anec- 
dote that captures the essence 
not only of this remarkable 
■ book but also of his entire 
literary enterprise. It is 1964 
in Salzburg; a dozen infer- 
^ national editors are celebrat- 
'"ing die Formentor Prize, 
■ which has been aw arded to 
‘ Semprun ’s first publication, 
“The Long Voyage.’’ Each 
'.in turn is to present him of- 
ficially a copy of this book 
translated into a different lan- 
. guage. After the German and 
the French, it is the turn of the 
‘ Spanish editor. But Franco's 


censors, berating the interna- 
tional jury for having award- 
ed die prize to an opponent of 
the regime, have prohibited 
publication of “The Long 
Voyage”; consequently, the 
Spanish version is being prin- 
ted in Mexico. Because of this 
complication, it is not ready 
in tune for die celebration, 
and so the Spanish editor can 
offer Semprun only a sym- 
bolic volume. The format, 
binding, number of pages, 
and jacket illustration match 
what the Mexican edition will 
look like, but die pages are 
blank. 

For Semprun, die whiteness 
of these pages illuminates the 
endless task of trying to tran- 
scribe the experience of death 
that has been at the core of his 
life and of his work since his 
experience at Buchenwald. 

The fact that this blank text 
is the Spanish version is all die 
more significant, for Spanish 
is Semprun ’s mother tongue. 
Bom in Madrid in 1923, Sem- 
prun learned french as a teen- 
ager when his family sought 
exile in Paris after the Re- 
publican defeat in Spain. He 
joined the Resistance as a 
young philosophy student. 


BEST SELLERS 


New York Times 

This lid it based on reports {rpm wort 
dun 2J300 boofcnores tbrougbotn [he 
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necessarily camcamve. 


TMa UlHnli 

Wftk Wk cm LM 

I THE PARTNER, by John 

Grisham — — — I 2 

2-SOLE SURVIVOR, by 

Dean Koonz 2 5 

J TOTAL CONTROL by 
David Bahtacci — - 4 8 

4 HORNETS NEST, by 

PKrteia Cornwell — 3 8 

5 THE NOTEBOOK, by 

Nicholas Starts — 5 22 

6 EVENING XASS, by 

Maeve Bmchy 6 4 

73001: The Foul Odyssey. 

by Arthur C. Chute 14 2 

8 SMALL TOWN GIRL by 

LaVyric Spencer 7 6 

9ADtfRAME. by Michael 
Criefaum 8 

10 THE LIST, by Steve 

Marini — 9 - 

1 1 THE DEEP END OF THE 

OCEAN, by Jacquelyn 
Mhchani 10 2 ft 

12 THE m fim NE PRO- 
PHECY. by 

Redfield >3 154 

U A THIN DARK LINE, by 
Tamj Hoag — - > 

U SILENT WITNESS, to . 

Richard North Paterson- 12 9 

is the cat who tailed 
A THIEF, fay Lilian 
Jadboo Brain — 5 

NONFICTION 

1 MURDER IN BRENT- 

WOOD, by Mark falir- 
man._. 1 J 

2 PERSONAL HISTORY. 

by Kadome Graham--*-- 2 “ 

3 ANGELA’S ASHES, by 

Rude McCbwt— — 2 27 


4 THE GIFT OF PEACE, by 

Joseph Ordinal Bernar- 
ds 4 7 

5 CONVERSATIONS 

WITH GOD. by Neale 
Donald Watoch 5 14 

6 HIS NAME IS RON, by 

the family of Ron Gold- 
man with Willian and 
Marilyn Hoffiy - 6 3 

7 THE MILLIONAIRE 
NEXT DOOR, by Thomas 
J. Stanley and william D. 

Dinfco - — — — 8 9 

8 JOURNEY INTO DARK- 
NESS. by John Dongles 

mid Mark Olshakcr — — 7 6 

9 MIDNIGHT IN THE 
garden OF GOOD 
AND EVIL by John 

Berendi — ~ 140 

10 MY SERGEI, by. Buto- 
rina Goalee va with E. M. 

Swift 14 IV 

11 A REPORTER'S LIFE, by 

Walter CrixtfcW------- 9 14 

12 THE MORAL DVTHJJ- 
GENCE OF CHILDREN, 

,3ȣS^2Ba5?AY. * 

14 s® 

RAGE, by Stephen E 
CIPLE. by Scon Adams— *** 

ADVICE. HOWTO 
AND MISCELLANEOUS 
J MAKE .THE CON- 
NECTION. by Bob 
Greene ad 

2 SlMPOi" AB^D^^ , jo 

bjbj ssc , 7 

4 EIGHT WEEKS TO 
4 o£r2raMHEALmby 

Andrew Weil— 


was arrested and deported at 
the age of 20. and was sent to 
Buchenwald as a political pris- 
oner, where he remained from 
January 1944 until the camp 
was liberated by Pattern ’s army 
in April 1945. It took him 15 
years to begin w write about 
this experience, then another 
30 to find a narrative form for 
it, endlessly rewritten and end- 
lessly renewed. This longest of 
voyages — from Buchenwald 
in 1945 back to Buchenwald in 
1992 — is the subject of ’‘Lit- 
erature or Life.” 

Though the young Sem- 
prun was driven to tell the 
story for two years after leav- 
ing the monstrous world of 
the Nazi camps, he found 
himself paralyzed by a num- 
ber of questions; Can the sto- 
ry be told? Can any narrative, 
whether historical recon- 
struction, eyewitness ac- 
count, or work of fiction, ever 
transmit this “essential 
truth” to those who have no 
direct knowledge of it? As he 
repeatedly attempts, and fails, 
to find a way to testify, Sem- 
prun begins to discern the rea- 
sons for this exasperating pa- 
ralysis. He realizes that be has 
not “escaped” death but has 
“passed through” it 

Writing, however, returns 
him to “the barrenness of a 
deadly experience.” The 
price of life, if he chooses to 
live, is oblivion, and this ob- 
livion implies renouncing the 
act of wnting about the only 
topic that has any signific- 
ance for him. 

Having opted for ‘ ‘the rust- 
ling silence of life” over “the 
murderous language of writ- 
ing,” for die next 15 years 
Semprun threw himself into 
action. He became a militant 
in the outlawed Spanish 
Communist Party until he 
was excluded by the Stalinist 
leadership for his increasing 
resistance to its dogma. He 


turned to writing film scripts, 
then served as minister of cul- 
ture under Felipe Gonzalez's 
Socialist government 

The memories, however, 
never left him, nor did the 
obsessive need to find a way 
to re-create these. Semprun 
finally found the courage to 
break the silence in 1963 and I 
wrote “The Long Voyage.” j 
This book represents a first , 
attempt to chronicle, in 
slightly fictionalized fashion . ' 
the harrowing five-day jour- 
ney from Compiegne to 
Buchenwald of 120 men 
crushed in a boxcar. "Liter- 
ature or Life.” begun in April 
1987, then put aside, was fi- 
nally written in 1992 after his 
first return to Buchenwald, 
accompanied by a television 
crew and by his grandchil- 
dren. 

Semprun ’s text cannot be 
described as a memoir, an 
autobiography, or a docu- 
ment; perhaps the word med- 
itation is most appropriate, for 
it consists of fragments that 
juxtapose actions and reflec- 
tions over several temporal 
planes. But in the interstices 
between anecdotes, literary 
digressions, erudite philo- 
sophical discussions, and en- 
counters with personalities, 
he is always gazing on Buch- 
enwald. with its haunting leit- 
motifs of the snow, die crem- 
atorium. the smoke, the smell 
of burned human flesh that 
has driven away the birds. 

Jorge Semprun chose to 
forget in order to live, then 
wrote in order to remember. 
Now be has reached his des- 
tination, a place where liter- 
ature and life are no longer in 
murderous opposition. 

Isabelle de Courtivron. a 
professor of French studies at 
the Massachusetts Institute of 
Technology, wrote this for 
The Washington Post. 


Living in the U.S.? 

Now printed in New York 
for same day 
delivery in key cities. 

To subscribe, call 

1 - 800-882 2884 

Cm New York, call 212-752-3890) 


REPUBLIC OF BENIN - REPUBLIC OF 1 

COMMUNAUTE ELECTR1QUE DU BENUJ 

(CEB) 

FOR 

ADJARALA hydro-electric Project 


Lot No. I - Civil Works 
Lot No. 2 -Turbines 
Lot No. 3 - Generators 
Lot No. 4 - Transformers 

Lot No. 5 - Powerhouse general electric equipment 

Lot No. 6 - Gates - Steel linings 

Lot No. 7 - Handling equipment 

Lot No. 8 - Lines 

Lot No. 9 - Substations 

The Government of the Republic of BENIN and the Government of the Republic of TOGO have applied for a 
credit from the International Development Association (IDA), the African Development Bank fADB). the West 
African Development Bank (BOADL the United Nations Development Program (UNDP), the European 
Investment Bank (EJB). the Nordic Development Fund, the Arab Bank for economic Development in Africa 
(ABEDA), the Islamic Development Bank (IsDB), the CaJsse Frart^ise de Ddvdoppmenc (CFD), the Kowait 
Fund and the Abu Dhabi Fund, in various currencies, to cover the cost of the ADJARALA hydro-electric 


r economic Uevetopm 
Ddvdoppmenc (CFD). 
of the ADJARALA hy 


Project which will be carried out by the Communaut£ EJectrique du BENIN (CEB) and intend to apply a 
portion of the proceeds of this credit to eligible payments under the contract s for which this invitation for 


ualification is issued. 


CEB intends to prequaJrfy contractors for the execution of the following works, namely: 
Lot. No. 1 - Civil works 
general installations 
- dam 50 m high: 

basic solution: 4,500,000 m 1 of fill, 
alternative; 430,000 m 1 of RCC, 3.000,000 tn* of fill 
2 headrace tunnels (7 m in diameter, 1 55 m long each) for the basic solution, 
spiliway: 

basic sotfoon - gated weir. 20.000 m’ of concrete^ 

attemative: unrated weir, stepped spillway over RCC dam. 
water intake works. 

powerhouse: 200,000 m 1 of excavation, 20,000 m* of concrete, 
access road to dam site: 8,2 Ion. 

diversion of RN& 2 km, 400.000 m 3 of fill, 1 50 m long bridge, 
owner’s site bothies. 


Lot No. 2 - 

Lot No. 3 - 
Lot No. 4- 
LotNo. 5- 


Lot No. 6 - 


Lot No. 7- 

Lot No, 8 - 
Lot No. 9 - 


Turbines. Two Francis turbines vertical axis, 54,2 m net head, 105 mVs and 52.4 MW each, 
1 76,5 rpm. 

Generators. Two generators 54 MVA - IQ-3 kV - I76JS rpm - 50 Hz. 

Transformers (Two plus one), 54 MVA - 10.3 kV/170 kV - YNd - ONAN/ONAF. 
Powerhouse general electrical equipment. AC and DC systems. Control system. 
Mechanical auxiliaries and AVAC system. Crowding system. Telecontrol of die powerhouse 
from Lome. 

Gates. Steel finings. Four sector gates 12m x I f m and one stopJog 12 m x 13 m, for die spillway. 
For the intake, three trashradcs 7 m x 1 1 m. two fixed wheel gates 45 m x 6 m and one 
stoplog 4.5 m x 6 m, one fixed wheel 22 m x 3 m and stoplog. 

For the outlet, one hollow jet valve 22 m diameter. 

For the power plant two downstream stopiogs 43 m x 53 m. 

Steel linings for headrace tunnels. 5.75 m in diameter and 107 m long each, and for the outlet 
2.45 m in diameter and 100 m long. 

Handling Equipment. Crane-beam 120 t. 18.4 m span. Gantry cranes 2 x 50 t and 2 x 5 t, 
crash rack rake gantry 20 c, lift 630 kg. 

Lines. 66 km of 161 kV fines. 


Substations 
New 161 kV AD; 
substations from i 


IJARALA 

Lom6. 


substation. Extension of 161 kV AVAKPA substation. Telecontrol of 


The prequalification documents are available for a non refundable fee of 300 French Francs or its equivalent in 
any other freely convertible currency and may be obtained from the Consultant by calling, writing, faxing, or 
telexing, with due mentioning of the required lots: 

Coyne et BeBerfEJearitite de France 
9, aSee des Barbanntere 
92632 - GertnevtfiefS Cedex - France 
* : (33.1.) 4135-0339 

fox : (33.1.) 41.85.03.74 

Telex : COYBE 616 6I5F 

The fee coven the express mailing. 

Submissions of Applications for Prequalffication muse be received not facer than 16 May 1997 at 5 pxn. 


THE WORLD'S mm’ IVEWSPftPER . 






vi.uei 


PAGE 8 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 




INTERNATIONAL 


Tide Is Turning for Welsh Capital 


Dam Project Will Transform Cardiff’s Bay Into Prime Property 


By Erik Ipsen 

Iniemational Herald Tribune 


CARDIFF — For centuries the city of 
Cardiff has lived with the curse of the 
world's second largest tidal fall, a 40- 
foot drop in the water level that leaves its 
bay completely drained for half of every 
day. It is a tide that transforms Cardiff 
Bay's one square mile of sheltered wa- 
ters into an ugly, undulating landscape 
covered in a gray-brown ooze and dotted 
with buoys and small sailboats lying 
forlornly on their sides. 

Next year that will all endin one of the 
biggest, boldest and most bizarre re- 
developments seen in Britain. It is a £2.4 
billion ($3.8 billion) project that hinges 
on plans to make Cardiff's bay per- 
manent, forever fixing its level at the 
high water marie courtesy of a £190 
million dam nearing completion at the 
mouth of the bay. 

The dam will transform 2,700 acres 
( 1 .000 hectares) of land surrounding the 
bay from worthless wasteland to prime 
waterfront property, a transformation 
vouchsafed by massive public invest- 
ment in everything from road building to 
the construction of museums, movie 
theaters and even an opera house. 

The odd thing is that even some of the 
project's biggest backers concede that 
Cardiff hardly r anks as the most logical 
or even needy recipient of such vast 


S ublic largesse — ■ a projected £400 mil- 
on worth by 2000. 

Take Michael Boyce, for instance, the 
chief executive of the Cardiff Bay De- 
velopment Corporation, the public 


agency spearheading the project. He 
concedes that “20 or 30 English pro- 
vincial cities," are Cardiff’s equal in 


terms of size, and yet none of them could 
dream of such acascade of cash — a sum 
which roughly works out to £8,000 for 
every man, woman and child in the 
city. 

Crucially, what Cardiff has that die 
others lack is clout. Cardiff, says Mr. 
Boyce, got die cash because it is “the 
capital of Wales and it will drive the 
economy of the nation. ’ " Critics of the 
plan point out, however, thai far from 
being the historic center of Wales, the 
city was only made its capital 40 years 
ago, about 600 years after Wales lost its 
status as an independent country. 

Even the Development Corporation’s 
mission statement strikes some as odd if 
not ironic. It pledges to “put Cardiff on 
the international map as a superlative 
maritime city.” Yet its maritime era is 
largely behind it, and its dam will shortly 
seal that fate, converting its briny harbor 
into a fresh water lake. 

The ironies do not end there. Other 
waterside development projects, most 
notably that of Baltimore in the United 
States — on which Cardiff 1 s city fathers 


modeled their own plans — were de- 
signed to spark a rebirth of their urban 
economies. Cardiff, on the olher hand, 
was already prosperous. “This city is 
not without its problems," said Martin 
Buckle, assistant director of planning for 
the Cardiff City Council ‘cut Cardiff 
did finish fourth last year in a survey on 
the quality of life in British cities." 

Besides poverty. Cardiff was short on 
something else as well Its bay area 
lacked the commercial and industrial 
stubble of earlier eras, the warehouses 
and factories successfully recycled into 
trendy restaurants and shops from Bar- 
celona to Boston. For many years 
Cardiff's city fathers could think of no 
higher calling for the area than as the 



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preferred resting place for the city's re- 
fuse, contained there in three massive 
dumps. 

Would-be developers of the bay en- 
virons had always been stymied by the 
same problem, a problem summed up by 
Duncan Syme. commercial director of 
the Cardin Bay Development Corpo- 
ration as, “What to do with all that 
stinking mud." 

Submerging it beneath a new lake is 
only the first step, the one that allows 
development to begin. To sell the bay to 
tourists and businesses Cardiff needed 
still more. True, it had history. In the 


. • • __ 

. 


Cardiff Bay's waterfront, which will 


world price for energy was set in 
Cardiff s oak paneled Coal Exchange. 


days when coal from the valleys of south 
Wales was said to “fuel the world," the 


Cardiff s oak paneled Coal Exchange. 
Back then Cardiff’s harbor ranked as the 
world's busiest coal port, shifting 14 
million tons of the stun in the peak year 
of 1913. 

The coal trade, however, nnlike tex- 
tiles or spices for instance, leaves no 
physical legacy of warehouses and the 


Cardiff Rr. IVw O o pg uw Ctrjt 


be transformed by a waterside development project into prime property. 

like. Coal is simply dumped outside in Ultimately tiwcoyoratiMJ 

vast piles, an inelegant storage mode that cteanoa of 372,000 square 
has left Cardiff Bay virtually bereft of million square feet) oj oeiaj^pare, 
recyclable buddings. 465.000 square meters of intyoul 

Bui already £800 million in private dofffcrj^i 


- 

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dirt 


sector investments have spawned 
everything from a sprawling computer 
screen factory to a handful of modern 
office buildings and 2,000 new homes. 


All of that is to be topped off byhotds. . 
and such public sector sweeteners-as^a. 
mari time museum and a proposed vasr 
new opera house. • '.'.;7 ! ’ T - 


Leniency Asked for Envoy 
Who Killed 2 in France 



By Craig R. Whitney 

New York Tunes Service 


Nigerians Release 
31 of 127 Hostages 
At a Shell Facility 


CjneMed bfOvSt^FnmDhpauha 

LAGOS — Thirty -one of 127 Shell 
Oil workers held hostage at an oil facility 
in southern Nigeria since Saturday have 
been freed, a Shell spokesman said 
Tuesday. 


PARIS — The former ambassador of 
Zaire to France appeared voluntarily 
Tuesday in a court in Nice for trial on 
involuntary homicide charges in the 
deaths of two schoolboys he hit while 
driving his car at high speed in Novem- 
ber. 

The former envoy, Ramazani Baya, 
had diplomatic immunity at the time of 
the accident, on Nov. 23 near the Medi- 
terranean resort of Menton, where a 
week later 5,000 people protested, de- 
manding that he be tried anyway. Mr. 
Baya and President Mobutu Sese Seko 
of Zaire agreed to lift the envoy's im- 
munity, and Mir. Baya, recalled as am- 
bassador in December, returned to 
France in January as an ordinary Zairian 
citizen. 

In court Tuesday, the French state 
prosecutor asked for a three-year sus- 
pended sentence for manslaughter by 
negligence, plus a fine of 20.000 francs 
($3,500), with 4,000 francs in damages 
and a three-year ban on driving in 
France. The court will rule April 29. 

“We need to be reasonable, although 
we feel inclined to pass judgment with 
our heart,” said the prosecutor, Didier 
Durand, as the parents of the two boys 
who were killed, Raphael Lenoir, 13, 
and Ronald Lehartel, 12, were sitting in 
the courtroom. “Justice cannot return 
your children to you.' ' 

Mr. Baya told the police that he had 



EUROPE: g 

Politics in Backyards 


Continued from Page 1 


going to be decided upon which infringe 
on sovereignty," said Foreign Minb&r 


Unid Hnochl/nK AftocUl-d Pita 

A fisherman preparing his nets Tuesday at the port of Durres in Albania as two ships burned behind him. 


Italy Sees Movement on Albania Force 


Reuters 

ROME — The government said Tues- 
day it expepted a decision "within 


Foreign Minister Abel Matutes of 
Spain said Madrid was ready in principle 
to join such a force. Turkey, which is not 


Foreign Minister Hans van Mierlo of 
the Netherlands, which holds the rotating 


Lamberto Dini of Italy. ' 

“It’s a debate about the future. tif 
Europe," Mr. Rifkind said. “We have . t 
an equally legitimate vision of Eriicpp67' 
that's good for all people of Europeyhot-j 
just the people of Britain. ” 

Mr. Dini engaged in a little politicking . 
of his own Monday, in a joint artide.wifbi 7 . 
Forei gn Minister Herve de Chare tteof“ -; A 
France, published in the French daily Le- f- 
Monde, to offer a proposal for trans- 
forming the Union’s nascent foreign*;; 
policy cooperation into a foil-fledged/ 
mutual defense alliance. 

■ The fertilization of ideas across bor- 
ders is hardly-new in Europe. Winston 
Churchill laid the intellectual ground- 
work for today’s Union by sketching his 
vision of a United States of Europe in a 
speech in Zurich in 1946. 

But polls show that opinions on Euro- 
pean issues vary sharply among member 
countries,, with Germans particularly 
reticent about monetary, union, for.ex- 
ample. • 

m addition, the European Parliament 
has done litdetd forge a tnily European 
political identity. 

“The EU will never work well until 
you have cross-border European . 
parties,” said Jonathan Eyal, director of 
the Royal United Services Instimte in' 
London. 

Nevertheless, European politicians 
hope the burgeoning debate reflects, a 


IT Seen 


haz, . 
He-.--- • 


not seen the boys at a crosswalk while he foreign protection force that would be 


days" on the size and objectives of a an EU member, also has expressed a 


EU presidency, said an advisory team — new political maturity that will help ease 


was rushing to a meeting with Marshal 
Mobutu, who was recuperating from 


They were released by die aimed hos- cancer treatment in a nearby Mediter- 


tage- takers, members of the local Ijaw 
community, who earlier allowed three 
wounded hostages to leave on a supply 
boat. 

The Ijaw, a community of 3 million 
who live along Nigeria's Atlantic coast. 


ranean villa The envoy stayed at the 
scene and submitted to a blood alcohol 
test that showed he had not been drink- 
ing. 

Mr. Durand cited these factors as rea- 
sons for not requesting a harsher sen- 


sent to Albania to guard a European and Romania, anotl 
Union relief mission. also were prepared tc 

But Foreign Minister Lamberto Dini, On Monday, EU 
speaking after EU foreign ministers met meeting in Brussels 


willingness to join. Mr. Dini said Austria 
and Romania, another nou-EU stale, 
also were prepared to take part 
On Monday, EU foreign ministers 
meeting in Brussels shied away from 


with Prime Minister Bashkim Fmo of supporting military intervention in Al- 


are locked in a dispute with the smaller tence, although Mr. Baya had been driv- 
Itsekiris community over where to place ing at more than twice the legal speed 


Itsekiris community over where to place 
the headquarters of a newly created mu- 
nicipality. It was to have been in Ijaw 
territory, but under pressure from the 
Itsekiris it was resituated. By taking 
Shell workers hostage, the Ijaw are hop- 


Albania in Rome, insisted that Italy 
would not intervene on its own in the 
Balkan state. 

“We are preparing with other countries 
a multilateral security force to give se- 
curity protection to civilians we are send- 
ing with the European Union to Albania," 
Mr. Dini said at a news conference. 


bania, where much of the southern pan 
of the country is beyond the govern- 
ment’s control. But the foreign ministers 
welcomed efforts by some EU states to 
assemble a force ‘ ‘under the appropriate 
international aegis" to provide security 
for deliveries of food and medical sup- 
plies and assistance. 


die second in two weeks — would leave 
for Albania on Wednesday to assess the 
scale of a potential relief mission. 

■ Journalist Is Shot in Albania 

A Dutch journalist was shot and crit- 
ically wounded in the southern Albanian 
town of Sarande, officials at a Greek 
hospital in Corfu said, according to an 
Agence France-Presse repent. 

She was identified as VilmaGundabel, 
39, who worked for the British television 
network ITN. One hospital official said 
she probably had been nit in the chest by 
a bullet fired from a long distance. 


ing to be compensated. 

Shell said Monday it had relayed die 
hostage-takers' demand to the govern- 
ment and halted oil production at six 
sites. 

The disturbances have also affected 


ing at more than twice the legal speed curity protection to civilians we are send- international aegis' ' to provide security network ITN. One hospital official sai< 
limit of 50 kilometers {32 miles) an hour, ing with die European Union to Albania," for deliveries of food and medical sup- she probably had been nit in the chest b; 
Mr. Baya could be sent to jail for three Mr. Dini said at a news conference. plies and assistance. a bullet fired from a long distance, 

years and fined 300,000 francs. 

French diplomats said that Mr. Baya 

lun tee red to waive diplomatic immunity POLICY: Albright Puts Women's Rights at the Top of U.S. Agenda 

shortly after the accident, but that only ° ° MT J tJ 

the Zairian authorities could waive it for Continued from Page I investment of monev or oolitical canital. bv Mrs. Clinton’s attendance at the I Q9‘ 


him. Foreign Minister Herve de Charene 
formally asked Zaire to lift his im- 
munity, but only after the ambassador 


operations of the U.S. oil company had left the country, and the French 
Chevron Corp. Shell said the staff and authorities seemed surprised when the 


contractors, all Nigerians, were being request was granted, 
held at six flow stations in the western "I will not be at ease until after the 
r Delta. verdict,” Mr. Baya said upon returning 

Lagos, Chevron Nigeria said two of to France in January. 

^paraie installations in the oil-rich The case has some similarity with one 
r Delta were picketed briefly Sat- involving a Georgian diplomat in Wash- 
f and Sunday by villagers protest- ington, who killed a young woman while 
ie relocation of a local government driving an automobile. President Ed- 


Niger Delta, 
hi Lagos, i 


its separate installations in the oil-rich 
Niger Delta were picketed briefly Sat- 
urday and Sunday by villagers protest- 
ing the relocation of a local government 


Clinton administration have made some 
very strong and important pronounce- 
ments. Wnai you don’t see is what it 
means in practice. How publicly is this 
raised with some of the worst offenders? 
What we have seen is that other issues 
trump women’s human rights. If the 
administration wants to maintain that it 


is promoting women's rights, it can’t 
continue to do that. Let's see something 


headquarters, forcing a temporary re- ouaid Shevardnadze also has waived 
duction in production. (AFP, Reuters) that diplomat's immunity. 


continue to do that Let's see something 
beyond the words." 

But Mrs. Albright and other officials 
say there is a broad range of activities 


investment of money or political capital, 
and that the administration is commined 
to doing as much as possible. 

The department’s Bureau of Popu- 
lation, Refugees and Migration, for ex- 
ample, is working with the UN High 
Commissioner for Refugees to set stan- 
dards on how far women's toilets should 
be located from sleeping quarters in 
refugee camps. That might seem 
mundane, an official said, bur it is part of 
an effort to battle the problem of vi- 
olence against women at refugee sites. 

Both President Bill Clinton and his 
wife, Hillary, have been outspoken ad- 


by Mrs. Clinton’s attendance at the 1995 
UN women’s conference in Beijing and 
the president's decision last year to in- 
vest $5 million in a fund to benefit 
women in Bosnia-Herzegovina. 

“What this administration believes," 
Mrs. Clinton said when she joined Mrs. 


misunderstandings between govern- 
ments and build durable popular support 
for closer EU cooperation. 

“This is the best sign of European 
normality, that we go to another country 
to present our case, 'said Werner Hoyer, 
the deputy foreign minister who serves 
as Germany's negotiator on EU reform 
and has presented Bonn’s views with 
speeches in many EU capitals. 

“It helps us overcome our parochi- 
alisms," he said. 

Les Metcalfe, professor of public 
management at the European Institute of . 
Public Administration in Maastricht, 
Netherlands, said the recent burst of 
activity was “intergovernmental coali- 
tion building" aimed at enabling EU 
leaders to reach agreement on a new 
treaty on EU reforms at their summit 
meeting in Amsterdam on June 15 and 
16. 

The Maastricht Treaty on European 
Union, which the Union had to modify 
hastily after Danish voters rejected it in a 
1992 referendum, "showed that there's 


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Albright at the March 12 event, “is that elite consensus," Mr. Metcalfe said. 


not much point in going for paper-thin, ' 

Alitd r>nncan<mii ’» X XX.. ir - j ' 


if half the world s citizens are under- “It’s not just whether you can strikea 


valued, underpaid, undereducated, un- deal around a table. It’s whether you can 
derrepresented. fed less, fed worse, not strike a deal that has some chance of 
heard, put down, we cannot sustain the long-term survival and popular sou- 
democratic values and way of life we port" ^ 

have come to cherish." So far it anm»arc iHa 


where progress can be made with a small vocates of women’s rights, as evidenced 


LABOR: Union Leader Warm of Protests if Bonn Cuts Spending 




Continued from Page 1 In a telejrhone interview, she said that 

instead of insisting Germany fulfill the 
Mrs. Engelen-Kefer said the risk of single currency condition of a 1997 de- 
wing conflict was now substantial ficit equal to 3.0 percent of its gross 


growing conflict was now substantial 

“If the government will not change, 
then I foresee a lot of increasing conflicts 
and I don’t know if the government will 
be able to keep to the single currency 
timetable." she said. "The miners’ and 
building workers' protests have been so 
far isolated incidents. But there may be 
many more protests like these, and the 
ones we have just seen were not even 
organized by trade unions, so it is not all 
in our hands." 

Asked if she feared violence on the 
pan of protesting workers, Mrs. 
Engelen-Kefer replied: “Yes. I fear the 
possibility of violence. I think we are at a 
breaking point. That was the case with 
the miners and building workers. The 
next time will be harsher.” 

Mrs. Engelen-Kefer, 53. also accused 


domestic product, the government should 
remember that the Maastricht treaty al- 
lows for a more flexible interpretation. 

“We think Germany should be as 
flexible as the treaty allows." she said. 
"Of course we don’t want a currency 
without stability, but the most important 
thing is that member countries of mon- 
etary union are on the right track to fulfill 
the Maastricht criteria, and the level need 
not be 3.0 percent. If it is 3. 1 percent, the 
world will not crash, and we could have 
Maastricht without pushing more people 
into unemployment and poverty." 

“Mr. Waigel should stop his misusing 
a harsh interpretation of tne Maastricht 
criteria as an excuse to cut social ben- 
efits," she added. 

In reply to Mrs. Engelen-Kefer, an 


an article that Germany would not allow 
a softening of the Maastricht criteria to 
meet the timetable for monetary union. 

“We want the euro to come punc- 
tually on Jan. 1. 1999," Mr. Kohl wrote 
in the Deutsche Sparkassenzeitung. 
“ But it is clear that this must not be at the 
expense of monetary stability. The sta- 
bili ty criteria of the Maastricht treaty are 
not open to discussion." 

Separately, a leading research orga- 
nization said that Germany’s 1997 de- 
ficit would equal 3.2 percent of gross 
domestic product The Institute for the 
German Economy said that given cur- 
rent projections for tax revenues and 
expenditures. Germany could only meet 
the 3.0 percent target “with a powerful 
act of force." 



Mrs. Albright said: “I am not among 
those who believe that if the world were 
run solely by women, war would dis- 
appear. The human capacity for folly 
and miscalculation is widely shared. But 
the history of this century tells us that 
democracy is a parent to peace. And 
common sense tells us that true demo- 
cracy is not possible without the foil 
participation of women." 

That is the reason she planned to bring 
up the UN convention when she visited 
Mr. Helms. "I will state explicitly." she 


long-term survival and popular sup- 1 
port." 

So far, it appears the politicians have 
their work cut out for them. 

With the headlines dominated by un- 
employment and jockeying over the 
single currency, public awareness of 
the EU reform negotiations remains 

low. 






It s completely unknown to the Ger- 
man public/ ' said Hermann Buenz, whb 
heads the Brussels office of the Fre- 
denck Ebert Foundation, a German re- 
search organization. 

j®uid while British politicians have 
been among the most active, their mes- 




r -:-r t! 

n,. . * . i 


--to i, is long past rime f 0r Arne.- sage appease teSutngon S SS" 
ica lo become party to the Convention on The speeches have been d°SmSedbv 
of D,wnm '“ ,,on 

Mr. Helms is unlikely to agree, an aide Party's Euro-skenrir 

said. He was one of several Republicans, voters back hmS 9J reder } tia ^ WIt ^ 1 
then in the minority, who opposed the genial d«,io„ “** 1 

y° u don’t have a receptive audi- 

ence at home, you go abroad," Elmar 

Sr: * . lea 4 in S G* - ™ Christian' 




k»ri Will.'iipfci"'/ Yflnwi* Iiph-v*- IV. 

Mrs. Engelen-Kefer fears protests. 


convention when it came up for rat- 
ification in a previous Congress. 

The treaty, adopted by the General 


ductivity and even reduced wages for 


Assembly in 1979 and signed by the Democrat «.S nnsnan 

United States in the last year of the ad- said of Mr MaiftrW 0136 ^ 1 ^ a 5 ,ament ’ 
ministration of Jimmy Carter, obligates If the British m * fora u m L° Brussels - 
signatories to condemn discrimination to deemr Euro^^f S;^L h0St u® 
against women and take measures to text ofSe 2 ***■ 
combat it. Republicans branded it coun- anti-European ^ iv£ ^ gIVC tp 
leroroductive and unenfnrr M hl^ “i7 1 ° nes - 


In the interview. Mis. Engelen-Kefer fewer working hours. 


Mr. Waigel of “leading Germany into a aide to Mr. Waigel on Tuesday repeated 
self-built trap of a far too rigid inter- the minister’s long-standing insistence 
pretution of the Maastricht criteria and on a strict interpretation of the single 


pretation of the Maastricht criteria and 
austerity policies on the back of workers 
and their families." 


currency conditions. 

Also Tuesday, Chancellor Kohl said in 


nevertheless held out an olive branch, 
say ing the Federation of German Trade 
Unions was willing to work with the 
government to reform the social security 
system. She also said it was willing to 
meet employers halfway by accepting 
more moderate wage increases, more 
flexible working hours based on pro- 


In exchange, she demanded that Ger- 
many’s skyrocketing social security and 
unemployment costs be financed by in- 
creases in indirect taxes such as the 15 
percent sales tax. or by u new energy tax, 
rather than by social spending cuts. 

John Schmid in Frankfurt contributed 
to this article. 


signatories to condemn discrimination 
against women and take measures to 
combat ir. Republicans branded it coun- 
terproductive and unenforceable. 

" Wc fear that creating yet another set 
of unenforceable international standards 
will further dilute respect for interna- 
tional human rights norms." their report 
said. 


of the im P licil assumption-. 

intertwf^H ‘i 1 . 3 * . Eu i°pean countrieS are 
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INTERNATIONAL HERALD TRIBUNE. 
WEDNESDAY, MARCH 26, 1997 ' 

PAGE 9 


STAGE/ENTERTAINMENT 



House That Brecht Built: Berliner Ensemble in Uproar 


By Alan Riding 

New ft** Timrs Service 

B ERLIN — The Berliner En- 
semble has two things going 
for it these days. Crowds are 
flocking lo see a popular act- 
ress. Corinna Harfouch. in "Eva — 
Hitler’s Beloved." a new play by Stefan 
Kolditz about Eva Braun's final hour. 
And Heiner Mueller's 1995 staging of a 
Bertolt Brecht classic. "The Resistible 
Rise of Arturo Ui," is still being per- 
formed to acclaim in repertory here and 
on tour around Europe. 

But two hits, it seems, are not enough 
to dispel the gloom gripping the le- 
gendary theater company founded by 
Brecht in 1949. The Berliner Ensemble 
may have had its highs and lows during 
the 40 years in which it was considered 
the crown jewel of East Germany ’s gov- 
ernment-run theaters. But since Ger- 
many was unified in October 1990, it 
has known little but conflicts and un- 
certainty. 

The latest crisis emerged in Decem- 
ber when its new a rustic director, Mar- 


tin Wuttke. a celebrated young actor 
with no prior administrative experience, 
resigned just 10 months into a five-year 
contract. Wa/y of the risks of naming an 
immediate successor, the theater's 
board formed an independent commit- 
tee with the mandate of recommending 
a candidate. It is expected to report by 
next week. 

Yet even if the committee can find 
someone with the necessary talent and 
authority, there is no certainty thar this 
person will accept the job. After all. 
Wuttke had clear ideas about how to 
create a new identity for die Berliner 
Ensemble, but he was unable to carry 
them out. Can anyone else be more suc- 
cessful? “The problem is that no one 
wants to close the theater, and no one 
knows what to do with it,’ * Wuttke said. 

When the two Germanys unified, the 
theater had a famous name but little life. 
Its golden era had lasted about two 
decades, prolonged after Brecht's death 
in 1956 by his widow, the actress 
Helene Weigel. After she died in 1971. 
the theater lost its spark. Her successor. 
Ruth Berghaus, fell out with Brecht’s 


heirs in 1977 and was replaced by Man- 
fred Wekwecth. a Communist function- 
ary with no interest in innovation. 

A difficult transition from commun- 
ism to democracy was therefore to be 
expected, but no one imagined it would 
be this traumatic. 

In an efforc to fuse the theater tra- 
ditions of West and East Germany, the 
Berlin Senate named a five-man board 
in 1992: Mueller, the director and play- 
wright; Fritz Marquardf, a director from 
the former East Germany; Peier Zadek, 
a playwright and director from the 
former West Germany, and Peter Pal- 
itzch and Matthias Langhoff. directors 
who had fled to the West during the 
Cold War. To create a corporate struc- 
ture similar to those of other govern- 
ment-financed German theaters, each 
paid a symbolic amount, $7,000, for 
shares in the company in exchange for a 
board seat. 

But the arrangement was doomed. 
“This theater was far too small to ac- 
commodate five directors coming from 
very different directions, all with big 
ideas." Wuttke said. Soon ideological 


and philosophical squabbling gave way 
to an open power struggle between 
Mueller and Zadek. "It was as if two 
tigers had been placed in the same small 
cage,”" Wuttke said. 

Langhoff was the first to resign, dis- 
tributing his shares in die company to 
the four otheT members. Mueller and 
Zadek continued battling until 1994, 
when Zadek finally walked out. leaving 
his shares to the theater’s managing 
director, Peter Sauerbauzn. With this. 
Mueller assumed the title of intendant. 
or artistic director, and announced that 
in the future the Berliner Ensemble 
would perform only Shakespeare, 
Brecht — and Mueller. 


A LTHOUGH Mueller won this 
battle, he was outmaneuvered 
by another political foe, the 
playwright Rolf Hochhuth, 
whose play 30 years earlier, "The 
Deputy,'’ had made him rich. Hochhuth 
was unhappy over the way his new play, 
"Wessis in Weimar,’ ’ about West Ger- 
mans going east, was altered by the 
Berliner Ensemble in 1993. 


He was even unhappier that Mueller 
refused to produce any more of his 
works. So he traced the prewar heirs of 
the ensemble’s home, the old Theater 
am Schiffhauerdamm (since renamed 
Theater am Bertolt-Brecht PJatz). and 
bought the building. 

Mueller died in December 1995. and 
Wuttke took over two months later, but 
the problem posed by Hochhuth ’s own- 
ership of the theater, though not of ad- 
jacent administration offices, remains 
unresolved. The ensemble’s current 
contract ends next year, and Hochhuth' s 
plans are still not dear. 

"The fear is that he will say we 
cannot use the building unless (a) we 
give him more money and (b) we put on 
his plays." said Stephan Wetzel, the 
ensemble’s spokesman. 

For the moment, though, the play- 
wright causing the ensemble the most 
headaches is Brecht himself, or rather 
his daughter, Barbara Brecht-Schall. 
who, for 25 years, has asserted her right 
to approve the director, principal actors 
and designer of every Brecht play at the 
Berliner Ensemble. When she disliked 


Einar ScheeFs production 
of "Puntilla and His Slave 
Matti’’ last year, for example, 
she decreed that he could no longer ^ 
direct Brecht. 

The problem turned critical late last 
year when Wuttke began preparing for 
the 100th anniversary in 1998 of 
Brecht’s birth. "I presented her with a 
program that I considered fairly daring 
— nothing but Brecht for an entire 
year,” Wuttke said. “Of the seven or 
eight productions I proposed, she only 
approved two and, to these, she attached 
impossible conditions." Brecht-Schall 
denies that she was uncooperative. 

In Wuttke ’s view, today's public will 
be drawn to Brecht only if his plays are 
presented in a new way. 

Wetzel said that copyrights in Ger- 
many last for 70 years after an author's 
death. “Perhaps the easiest solution 
would be to appoint Mrs. Brecht-Schall 
as artistic director,” he said with a 
smile. “Or you could ask Christo to 
wrap the theater until the year 2026. 
Maybe it would be more interesting to 
waitUDtil then." 


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Reality Check With Jaron Lanier 


17 Scenarios in Search of a Plot 


By Michael Billington 


L ONDON — The strangest play 
in London right now is un- 
doubtedly Martin Crimp’s 
“Attempts on Her Life.’* It is 
being staged, with some brilliance, by 
Tim AJbery at the Royal Court’s Theatre 
Upstairs. 

Described as “17 scenarios for the 
theater,’’ it has no plot, no characters, no 
visible structure. Yet it compellingly 
holds one’s attention for 100 minutes. 

Each episode in this theatrical collage 
revolves around a suicidal woman 
called Anne. She may have been an 
urban terrorist, a tourist hostess, a mem- 
ber of a cultist sect, an avant-garde 
artist, a mother. There may have been 
several Amies: there may have been 
one. But, as her death is investigated 
through a mixture of verbal testimony 
and visual imagery, we gradually get a 
composite picture of a brutal deper- 
sonalized world in which the idea of 
individual identity is at risfc. 

What is clear, however difficult the 
play may be, is Crimp’s loathing of the 
homogeneity of a high-tech world where 
people and places are reduced ro in- 
struments of international capitalism. At 
rate point the dead woman is transformed 
into a car, the ‘Anny,’ which is enthu- 
siastically described by admen as streak- 
ing through sunlit Bordeaux vineyards or 


North African villages but which has “no 
room for the degenerate races.” 

. Crimp, a 41 -year-old playwright, 
writes powerful prose, clearly commu- 
nicates to a young audience and creates a 
striking piece of post-modernist theater. 

Caryl Churchill is another writer who 
devises a new structure for every play 

IX)NDON THEATER 

she writes. But the revival of her 1979 
work, ‘‘Cloud Nine,” as part of the 
Peter Hall Company’s season at the Old 
Vic. suggests it is something less than a 
contemporary classic. Churchill’s de- 
clared aim is to explore the parallels 
between colonial and sexual oppression 
but, since she caricatures and lampoons 
the very notion of Empire, it is hard to 
take her thesis too seriously. 

The first half takes place in a British 
African colony in 1879. The white 
rulers are mostly stiff-upper-lipped idi- 
ots who regard both women and the 
continent they have been sent to ad- 
minister as darkly mysterious. When the 
hero discovers that his best friend is a 
closet homosexual, he solemnly an- 
nounces, “Rome feU. Harry . and this sin 
can destroy an empire.” We laugh but 
there is something smugly self-congrat- 
ulatory about being invited to guffaw at 
die naivete of the past 

In the second half Churchill projects 
many of the same characters into the 


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©New York Tmet/EdiUsd by Will Short z. 


Solution to Puzzle of March 25 


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By Mike Zwerin 

lniemaiional Ilf raid Tribune 


London of 1979. Her point is that much 
of the energy now comes from women 
and gays and that liberation from Vic- 
torian inhibitions has been achieved. " ‘ 
This indifferent play is well staged by 
Tom Cairns, who evokes the heat and 
distance of Africa. The company swaps 

f enders and roles with ease, especially 
im Mclnnemy as a colonial adminis- 
trator and a fractious 5-year-old girl and 
Janine Duvitski as a repulsive 9-year-old 
boy and an upper-class woman. 

Meanwhile at Wyndhams, Yasmina 
Reza’s award-winning comedy, “Art.” 
has been recast without losing any of its 
subversive appeal. Not only has the cast 
changed: So has the attitude of the audi- 
ence, which initially turned the play into a 
philistine joke against the conspiracy of 
modern an. Now die audience sees it for 
what it is: a complex comedy about the 
tensions and stresses of male friendship. 

Anton Lesser plays Serge, who pays a 
high price for an all-white abstract can- 
vas. with an icy testiness. David Haig 
lends his outraged friend, Marc, the self- 
righteousness of the aesthetic conser- 
vative. And Mark Williams is funny and 
tearfully sympathetic as Yvan, who acts 
as a buffer between the idealists. 

The play still sends you into the night 
arguing about its ideas. 

Michael Billington, drama critic of 
The Guardian, is filling in for Sheridan 
Morley. 


N ew york — 

“Essentially, what 
I’d tike to do is cre- 
ate ail of reality out 
of my music." says Jaron 
Lanier, chuckling and twirl- 
ing his strawberry-blond 
dreadlocks. ‘ ‘ But since I can’ t 
do that. I’ll try to make all of 
virtual reality out of it.” 

He has had trouble defining 
himself: “It’s hard to put me in 
a nutshell.” There have been 
several false starts: "There are 
many sides to me.” 

Just look around his brick- 
walled TriBeCa loft Elec- 
tronic hardware and musical 
instruments everywhere. Trip 
over the tangled wires on the 
floor, pull up a speaker. A 
bass-sitar, a contra-bass cla- 
rinet, a grand piano, Thai 
pipes (“there’s really nobody 
in North America who knows 
bow to tune these things”). 

“I sort of have two tives.” 
Picking up speed now. “One 
life is in music. The other life 
is actually something I’m 
pretty famous for. I’m a com- 
puter scientist, I started afield 
called virtual reality.” 

V. He defines that field as * ‘a 
technology that attempts to 
synthesize the complete hu- 
man sensorium to create ex- 
periences of alternate real- 
ity.” 

In 1985, at the age of 24, 
Lanier founded VPL Research 
Inc„ the first company pro- 
ducing virtual-reality software 
such as special goggle-like 
headsets and interface data 
gloves. It has been said that 
VPL, which went bankrupt in 
1993, “launched an in- 
dustry.” He told NBC-TV: 
“Running a high-technology 
business is something that is 
best to do when you are in your 
twenties. I’m really glad I did 
it And I don’t think I’m going 
to do it any more.” 

He told NBC News that he 
would I ike to focus on finding 
applications for VR that went 
into areas like medical re- 
search: “Anybody that has to 
use their imagination in their 
work like an architect putting 
up a new building or a doctor 
imagining different ways to 
perform an operation will be 
able to tty out these things in 
VR.” 

It is a warm day in winter. 
The steam heat escapes out 
the open windows. Sirens 
converge from the distance, 
adding to the already fortis- 
simo 24-hour bustle. Since ‘ ’a 
messy divorce and a Chapter 
11" three years ago, Lanier 
has been focusing on music: 
“Music has qualities I wish 
computers had more of. It’s 
intuitive and it’s in real 
tune." His recording “Instru- 




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He leads two lives: Computer scientist and musician. 

meats of Change" fPoly- it as “an imaginary place that 
Gram) was released in 1994. feels real. "And he has a com- 
He’s been “doing stuff" with mission from the St. Paul 
the minimalist composers Chamber Orchestra for anoth- 
Philip Glass, Steve Reich and er piece in which video mon- 
Terry Riley and jazzman Or- irons are placed in front of each 


He’s been “doing stuff" with 
the minimalist composers 
Philip Glass, Steve Reich and 
Terry Riley and jazzman Or- 
nette Coleman. 

Lanier is used to being the 
weirdest person in any social 
setting, but Coleman makes 
him focus: “He has incred- 
ible refinement in what he 
hears coming in from the 
world combined with an 
amazing lack of inclination to 
try and control wbar happens 
out there. Ornette encourages 
me to provide structure." 

The sirens have been com 
ing closer. Lanier stops to 
listen to them, exclaiming in 
admiration: “New Yoik!" 
Shaking his bead with the 
irony of finding aesthetic ap- 
peal in such an ugly statement 
of raw energy, tie mutters: 
“Insane.” 

In addition to finding new 
sounds on "world" instru- 
ments tike bagpipes and 
Chinese harps, he invents 
sounds made by “imaginary 
instruments in imaginary 
places.” They have names 
like cybersax. cyberxylo and 
rhythm ghnbal. Technology 
can still be “really fun." 

His performance piece 
“The Sound of One Hand" 
designs a virtual world. The 
view on his headset and how 
be affects it with his data glove 
is projected an a large screen 
for the audience. He describes 


images affect the he’s known. 


music and vice versa. It will be 
delivered late. "It’s a catas- 
trophe.” He says he’s "late 
with everything. I'm an in- 
sanely overcommitted person. 
The worst example is a book 
that’s about a decade late." 

It was originally slated to 
be the first book cm virtual 
reality. By now. however, 
there are many others, mostly 
by "people who have not had 
any direct experience with it. 
The term was supposed to sig- 
nal the notion that people 
sharing a simulated environ- 
ment at the same time would 
react to each other. ’Reality’ 
meant social reality. The term 
once meant something fairly 
specific in die scientific com- 
munity. Now it can mean just 
about anything. The notes for 
a Sinatra record say that 
‘when Frank sings he creates 
his own virtual reality.’ 

“You might think that at 
least I would have been able 
to decide what the term means 
because I made it up. It hasn’t 
worked out that way." And as 
far as patent or trademark pro- 
tection is concerned, he has 
none. This does not appear to 
distress him: “Let’s just say 
that I had a chance to become 
very rich but I missed it be- 
cause of some stupid things 
that happened." 

Honking horns and a hay- 
wire car alarm join the sirens 
in die real world out there. 
Anyway, he doesn't like what 
large amounts of money have 
done to some of the people 


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WEDNESDAY, MARCH 26. 1997 



Did You Miss A Day This Week? 

This past week s front pages are available 
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PAGE 11 


Toyota Set 
To Launch 
First Hybrid 

Car Combines Gas 
And Electric Motor 


By Andrew Pollack 

Nett- York Times Servic e 

TOKYO — Toyota Motor Corp. 
later this year will become the first 
company to mass-market a low-pol- 
luting hybrid vehicle containing both 
an electric motor and a gasoline en- 
gine, the company said Tuesday. 

Hybrid vehicles cannot achieve the 
zero emissions of the fully electric car. 
But many automotive engineers be- 
lieve the hybrid approach represents a 
reasonable compromise, cutting emis- 
sions significantly while being cheaper 
and far more practical than hilly elec- 
tric vehicles. 

Toyota said its hybrid car would 
achieve about 28 kilometers per liter, 
or 66 miles per gallon, in a standard 
Japanese fuel economy test, twice the 
efficiency of a similarly sized Corolla. 
Emissions of carbon dioxide would be 
cut in half while carbon monoxide, 
hydrocarbons and nitrogen oxides 
would be reduced by 90 percent 

Japan's largest auto manufacturer 
said it would begin selling a new com- 
pact hybrid car with a 1 -5-liter engine 
in the Japanese market later this year. 
Executives said they had no immediate 



W>umXMhari*llir lW* 

A Toyota technician explaining the company's hybrid system Tuesday during a press showing in Tokyo. 


plans to sell hybrid vehicles in the 
United States, although that is a pos- 
sibility later. 

“We are very confident about what 
this offers, but we would like to get 
reaction and criticism by testing it in 
the Japanese market first,” said Alti- 
hiro Wada, an executive vice president 
of Toyota. 

Many other companies are working 
on hybrid vehicles. 

Detroit's Big Three are pursuing 
them as part of an effort, partly fin- 
anced by the Department of Energy, to 


develop a high-efficiency “supercar.” 
Audi is said to have a hybrid car using 
a diesel engine ready for sale later this 
year and Renault also has announced 
hybrid technology. 

Until now, much emphasis on cut- 
ting automobile air pollution has fo- 
cused on fully electric vehicles be- 
cause California was requiring that 2 
percent of the cars sold in the 1998 
model year have zero emissions. 

But last year, with automakers in- 
sisting that it will be a long time until it 
is possible to make an electric vehicle 


that would satisfy consumers, Cali- 
fornia dropped that deadline, although 
it is still aiming for 10 percent of 
vehicles sold in 2003 to have no emis- 
sions. 

Takehisa Yaegashi, the chief en- 
gineer forToyota's hybrid system, said 
the company was hoping California 
might relax its requirements further 
ana accept hybrid vehicles instead of 
just electric ones. 

General Motors in December began 
See TOYOTA, Page 15 


U.S. and EU Move Toward Accord on Cuba Sanctions 


By Tom Buerkle 

International Herald Tribune 

BRUSSELS — The United States 
and the European Union have made 
progress toward resolving their differ- 
ences over trade policy on Cuba in 
hopes of stopping the dispute from go- 
ing to the World Trade Organization, 
senior officials said Tuesday. 

The news of progress on the issue 
followed more than four hours of talks 
here Monday between Stuart Eizenstat, 


the U.S. special envoy on Cuba policy, 
and Sir Leon Brittan. the EU trade com- 
missioner. Both sides described the 
talks as constructive and said the of- 
ficials bad discussed new ideas for set- 
tling the dispute. 

“We have a better understanding of 
each other's needs and ideas.” Mr. 
Eizenstat said. “There are still significant 
hurdles, but progress has been made.” 

Sir Leon agreed to send a team of 
officials from tire European Commis- 
sion, the EU's executive agency, to 


Washington for discussions next week, 
reflecting his “desire to continue in- 
tensive talks,” a spokesman for the 
commission said. 

The timing is crucial because it in- 
dicates an attempt by both sides to reach 
a settlement before mid-April, when a 
World Trade Organization panel is 
scheduled to begin hearings into a Euro- 
pean complaint against U.S. sanctions 
contained in the Heims-Buxlon Act. 

Washington reacted vigorously when 
the WTO appointed three panelists to 


bear the case last month. Mr. Eizenstat 
said the dispute was political, not com- 
mercial, and he indicated that the United 
States would refuse to cooperate with 
the panel by citing the rarely invoked 
national security clause in the rules gov- 
erning international trade. 

Such a refusal to cooperate would 
present a serious challenge to the WTO's 
credibility, and neither EU nor U.S. of- 
ficials want to see the threat carried out. 

“We really want to avoid taking this 
to the WTO.” one U.S. official said. 


Thyssen-Krupp Merger 
Draws Union Protests 

Steelworkers Scry Pact Will Close Big Plant 


By John Schmid 

• International Herald Tribune 

FRANKFURT — As Germany's two 
biggest steel companies hammered out 
details of a merger Tuesday to which 
they now agree upon in principle, the 
steelworkers' union accused them of 
planning to close one of the nation's 
biggest steel mills. 

Joerg Barczynski. the senior spokes- 
man for the IG Metal! union, said Krupp 
Hoesch AG's unprofitable Dortmund 
steel mill, which employs 6,000 work- 
ers. would be the biggest casualty of 
Krupp's merger with Thyssen AG. With 
annual output of 5 million metric tons, 
Dortmund is Krupp's flagship steel 
plant. 

‘ ‘The danger is that Dortmund will be 
closed,” the union official said, noting 
that Europe's steel industry already 
suffered from overcapacity. 

The union considers its information 
reliable, Mr. Barczynski said, because 
IG Metall has representatives sitting on 
the supervisory boards of both compa- 
nies and has its own representative at- 
tending the Thyssen-Krupp merger 
talks that began last week. 

Neither company would comment on 
the union’s assertion, saying details of 
the companies' plans would not be an- 
nounced until Thursday, when the two 
companies were expected to finish their 
merger talks. 

Mr. Barczynski said be expected the 
executives to give assurances Thursday 
that they would preserve jobs and steel 
operations at Dortmund. “But if we talk 
in a year, a lot of die things that we fear 
will happen, will happen." he said. 

IG Metall said it would insist that a 
combined Thyssen-Krupp move some of 
its n ousted operations into the Dortmund 
plant if steel production were halted 
there. Other industry sources said the 
strategy could help salvage some of the 
steel jobs. 

The union official said that Dortmund, 
in the Ruhr Valley industrial heartland, 
already had lost its coaj mines and that 
the only big employers left were die 
Krupp steel works and a brewery. “A 
major concern is that Dortmund will be- 
come a dead city,” Mr. Barczynski 
said. 

Venting their anxiety about job 


losses, an estimated 28,000 striking 
Thyssen steelworkers gathered in front 
of Deutsche Bank AG in Frankfurt to 
protest the bank's support for Krupp's 
original plan for a hostile takeover of 
Thyssen. On Monday, Krupp dropped 
its unsolicited takeover bid because a 
friendly merger seemed assured. 

Condemning "casino capitalism.” 
IG Metall 's president, Klaus Zwickel. 
told the demonstrators that their jobs 
were threatened. 

“This is a fight about jobs.” Mr. 
Zwickel said to the crowd. “Watch out. 
colleagues: Whether it is merger or co- 
operation, it is all about jobs and pro- 
duction sites.” The union also vowed to 
fight the government's campaign to cur- 
tail welfare spending. Mr. Zwickel said 
Germany's big banks had become a 
“social danger.” 

In Dortmund, as many as 6.000 work- 
ers went on strike to protest the potential 
threat to their jobs. 

* ‘Work will not be resumed as long as 
we have no guarantee that the site will 
remain open and no written agreement 
that there will be no redundancies." 
Bernd Schimmeyer. Dortmund's works 
council secretary, said. The union will 
strike if necessary to preserve jobs, Juer- 
gen Hafher. another worker represen- 
tative at the Dortmund plant, said. 

Harald Schanau, IG Metall *s regional 
leader in The Ruhr Valley, said the union 
would seek a “binding declaration" to 
preserve jobs in all the Thyssen and 
Krupp plants involved in the meiger. 

Even before the merger plan, analysts 
argued that Krupp's financial troubles 
could be remedied by closing the un- 
profitable Dortmund plant 

Krupp concedes that its plant at 
Dortmund, built in 1963. has two han- 
dicaps: Its technology is old and needs a 
top-to-bottom overhaul; and unlike 
most of the world's steel plants, it is 
landlocked. While Thyssen’s works lie 
on the Rhine River and can transport 
iron, coal and other commodities for the 
steel trade. Dortmund must rely on rail- 
roads to ship materials. 

A merger of Krupp's and Thyssen’s 
steel interests would produce Europe's 
third-biggest steel company, after Brit- 
ish Steel PLC and Usinor-Sacilor S A of 
France, and the fifth largest one in the 
world. 


MEDIA MARKETS 


Has the Great Web Retreat Started? 


By Seth Schiesel 

New York Times Service 


N EW YORK — For the past 
few years, media organiza- 
tions that made their names on 
the air and in print have 
flocked to the World Wide Web. But 
now, some of them are turning back. 

in the past month, for example, two 
Web sites considered the most popular 
of their kind have shut down: Out.com, 
run by Out magazine, and Politics Now, 
a collaboration of ABC News, National 
Journal Inc. and Washington Post Co. 

As befits its name, the demise of 
Politics Now reflected disagreement 
among its members. Out, the country's 
leading gay and lesbian magazine, re- 
treated for a simpler and more common 
reason: It was losing money. 

The Great Web Shakeout, as some in 
the industry fear it might become, has 
been gathering momentum for at least a 
year, as Internet advertising has de- 
clined to grow quickly enough to sup- 
port all would-be publishers and as users 
continue to balk at paying for much on- 
tine material other than pornography. 

The battle appears to be evolving into 
a war of attrition, with the faint of heart 
or the slight of resources dropping out 
first. Meanwhile, some big media 
companies are losing millions of dollars 
a year on a bet that the World Wide Web 
will catch onas a mass medium and that 
the survivors will someday strike it rich 
as they pan for gold in the bitstream. 

For instance, analysts estimate that 
Time Warner Inc. may be losing as 


much as $10 million a year on its am- 
bitious Pathfinder (http://www.path- 
finder.com), which went on line in 1994 
as one of the first big-media Web sites. 
The company shows no sign of scaling 
back its plans for the Internet 
“Pathfinder is the exemplar of a di- 
versified media company losing money 
on the Web,’ * said Adam Schoenfeld. an 
analyst for Jupiter Communications, an 
on-line research firm. 

Even MSNBC.com (http://www.ms- 
nbc.com), die Web site operated jointly 
by NBC News and Microsoft Coip., is 

‘There is a shakeout, and 
it’s probably healthy. 9 

not expected to be profitable for at least 
four to five more years. Bill Gates, 
Microsoft's chairman, said this week in 
New York. 

“You have to see a lot more growth 
before the advertising model becomes 
profitable,” Mr. Gates said. So far. he 
said, most advertisers see the Web as a 
“dilettante, experimental model.” 

Until recently, the walking wounded 
have mostly been cash-short independ- 
ent start-ups. 

. “Just like 80 out of every 100 new 
magazines fold, I wouldn't be surprised if 
a similar percentage of new Web sites go 
under,” Mr. Schoeofeld said. “There is a 
shakeout, and it’s probably healthy.” 

Out, which has a circulation of 
121 ,000 for its monthly print magazine, 
got off foe information superhighway 


Feb. 28. Although OuLcom was attract- 
ing 4.200 visitors a day, the site was 
losing $150,000 a year, said Henry 
Scon, president of Out Publishing Inc., 
the venture’s parent company, 

“I became increasingly concerned 
that foe resources we were putting into 
the Web product could have been better 
devoted to our core product, which is foe 
magazine,” he said, “Having a Web 
sice is no longer a sign of being on the 
cutting edge. It might be a sign of not 
doing much original thinking.'' 

He added: “Newspapers have a clas- 
sified-advertising franchise to protect, 
and just thinking about that, you can 
make a pretty good case that newspapers 
need to be involved in the Web. But it’s 
entirely unclear to me that a magazine 
Web site will ever reach profitability.” 

But while a number of foe largest 
U.S. newspapers, including The New 
York Times and The Wall Street Jour- 
nal, are using the Web as an electronic 
extension of their print product, ex- 
ecutives of The Washington Post ap- 
parently did not see enough long-term 
benefits from staying involved in the 
Politics Now partnership. 

Generally considered the most pop- 
ular Web site devoted to American pol- 
itics, the site was losing “in foe low 
seven figures” each year, according to 
people close to foe operation. 

The three companies had been content 
to absorb their share of the losses, but 
Post executives concluded that losing 
money in a partnership with two other 
media organizations failed to sufficiently 
enhance the company’s brand name. 


CURRENCY 8k INTEREST RATES 


_ . March 25 

****** , w M . a « 

man IJtB ^ 5 ^‘ MB m SK 305- 

non Ml uw v*A ra iiSr van — 

" ','!!£ £3 imS - ££ slums nm 

i 1(0 IS J2T w*s uhj u® i4wa 

a. ana Tomato rates atSpjn. ^ a a- not Qu&ett fLA-' not wmHaDte. 

t buy one poawbb: m buy one dtdOK Units of tots N 


LIbld-Libor Rates 


March 25 


Other Dollar Values 


Currency Purs 

Aigntpesn 0.9988 Gffckdrac. 

Aostraflnas 1.2723 HoflgKoogS 

Ans&taisciL 11.876 KB*g.ferfrt 

Brno! real 1.0615 Indian ropee 

CtfMHyan 83256 laferapM 

Czech konma 39.32 Irtshfi 

DoBfetikmae 6432 mtseBdiek. 

Egypt pond 13942 KtMriBnar 

FfaLinartta] £0425 Motor- ffes- 


Pars 

26506 

77*1 

1762S 

3X91 

24040 

06353 

3J45 

03838 

04773 


MCI. peso 

Nocw.«n*» 


PoBshzWy 
Port escudo 
RmsraMt 

sta** 


Per* 

7083 

1.4353 

04975 

3604 

306 

WJS 

57140 

175 

10414 


S. Afr. read 
S.KW.M 
SwetLkmn 
runs 

TM bait 

T wife* Ore 

UAE fflrtoa 
Vend***'- 


POTS 

40165 

86800 

7043 

27-56 

25.96 

134365 

34705 

47600 


Swiss 

D-Mark Franc sterling Franc Yea ECU 

1 -month 5V.-5M 3**-3¥m 1V-2 54V-6V. 3W-MV VW-M 4M-4M 

3- month 59V -5* 3VW-3M. I Ik -TV*, 6K-6M 3W-3W Vu-VU 4W-4% 

6-mofflh 5V*-5**»3V».3V» n-n-IV* 6M-S» 3V*-3*m 56 -V* 4V.-4V* 
1-year 6-616 3V.-3*. TVl-lV. m-TV, 3*. 314 Vi-HV 414-4M 

Sotnces Reuters Uoydo Bank. . 

Rafts appBcobb to Interbank deposits at St mSSon mtnbrvm (orequhoient). 


Key Money Rates 

UaHed States 
Discount rate 
More ra»» 

Federal tads 
ra-dey CDs Heaters 
188-day CP derdert 
3 noafb Treasury UB 

1- yeor Treosory faffl 

2- yeor Treasury MB 
5-year Ttanswy Mft 
7-yoar Treasury note 
t o y sar Treasury note 
SOyera- Treanry boat! 
MtrrtiS Lynch 38-day RA 


Discount rats 
CaHMoaey 
I auefb kiterUiuli 


Ua Bo-day 9»*y owieoey 
£154 16146 10138 

3751 U7W 1J898 Swfashmte 
3845 1-6814 .1.4776 


Sfrday 40doy SHoy 

122.94 13163 131-66 

1.4532 14489 1440 


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546 

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6*V 

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726 

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638 

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521 

638 

627 

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110 

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646 

643 

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3V. 

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071 

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314 

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635 

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3* 

3% 

0.50 

047 

081 

075 

078 

020 

022 

081 

0.75 

078 

10-yew OAT £79 5H 

Sources: Reuters . Blaoabm MenPI 
Lyncn , Bank at Tokre-MIfivblsbL 

CoameuOenK CteaLfmaa . 

Gold 

AM . PM . 


243 

243 

Zafc* NJL 

349X0 —1.15 


JSSBRSHteKKis-*'- 


Howl Bank at Canada 


LuiMMiil rata 
CM my 
J-ffloalh toftrtaak 
3-moott MertKBft 
t-uoalt taftfbuk 
iB-yearBsaft 


450 

122 

300 

130 

122 

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*20 

115 

126 

128 

132 

5.71 


350.90 34940 —040 

Now York 350X0 348J0 —270 

US. dodos per ounce. London oMdot 
Bxbtps; Zinteti and New York i 
and dosing prices,- New Ybrk 
(April) 

Sows Ream. 


Global Private Banking 


Wh 


EREVER YOU GO, WHEREVER 


YOU MAY BE, YOU’LL FIND THAT 
REPUBLIC SPEAKS YOUR LANGUAGE. 



oj kVpirWir 

iVdfipnii/ Hjnt' rt) N*W Ynrli 

frpattW . L m (is'ivifii. 


Our multilingual account officers are at your 
service in some three-dozen financial centres 
around the world. And though they speak many 
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It is a simple principle upon which we hase 
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sophisticated conservatism, vigorously pursued, has created 
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Indeed, Republics capitalization ratio, 
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To our way of thinking, it is security as 
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And in the process, to provide a unique quality 

Wnrti //p0o/«|«riffrf#r# p/ 

of service, understanding and discretion- 


Republic National Bank of New York” 

Strength, Security. Service. 

A 5a fra BanL* ' Now Yi >rL- ’ Ct-ni'V.i ' LmiJkii ’ Beijing * Ri-inil * Buvirly Hill* ’ Bnoi** Aire* " Caiman I, Link ' Ck|k-nIui£iM 1 * Cilirollar 
OuuriiKv ' Hi >nf KiiiiC ' Jakarta ' Ln* An^i'lit- * Lilian- > * I Jin'mln'iir^ * Manila * Mi-vli.* 1 City * Miami ' Milan ‘ Mnntt- Carlii * M«nL*vii!i-<i 
Muntn-al * Mih^vra ' Nimu * Pari* * IVriFi " PiiiiLa Jr I llrtr * Kin Jr- lam-im ■ Santiago " Sin£jp>irtr * ryJnty * Taipei ■ T.ilfy.i • Tiirniilo * Zurich 

* E.p.«* M4i-iui ILnl .i Kn. V-rl. I 1 * 1 ? I 







* 


PAGE 12 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


THE AMERICAS 


Investor’s America 




The Dow 


!■ 


30-Year T-Bond Yield 


5700 





VV l 635 
— Uffi 
— 1 635 




Dollar in Deutsche marks n Dollar in Yen 


1.70 


130 


130 





\ 130 


120 




r -n- l m‘ 


0 N D J F M 
1996 1997 

i-AJ'XW ?\-.;v-yr.vfp:ltl; 


0 N D J F M 
1996 1997 



Delta- Air France Link Put Off 


CarpiMbrOarSc^FaiaDiiparha 

LONDON — Delta Air Lines 
and Air France will not have an 
agreement for shared marketing of 
flights in place by April 1, as 
p lanne d, because they have not 
won regulatory approval Delta 
said Tuesday. 

In November, the US. airline 
and the french national carrier 
formed an allian ce that would in- 
volve selling seats on each other's 
flights, a practice known av code- 
sharing. They were also to market 
their tzans-Atlantic flights jointly. 

But a Delta spokeswoman in 
London, where Delta's European 
operations are based, said that 
without a new bilateral air-ser- 
vices agreement between France 
and the United States the two air- 


lines would not be able to move 
ahead with the accord. 

“There’s still no air treaty be- 
tween the US. and France, and 
that needs to happen before we can 
get regulatory approval,” said the 
spokeswoman, Corrie Shanahan. 

Die French renounced a treaty 
on air travel between the two coun- 
tries in 1993, seeking to replace it 
with a more restrictive agreement 
that would preserve more business 
for Air France. Talks on a new 
treaty began in December. 

A code-sharing accord that Air 
France signed with Continental 
Airlines late last year will also be 
held up until a treaty is reached. 

Delta shares traded Tuesday af- 
ternoon at $83.25, up 1Z5 cents, 
after the announcement. 


Ms. Shanahan said the two air- 
lines would be able to take some 
steps to prepare for the regulatory 
approval. On April 7, Delta will 
transfer its base of operations in 
Paris from Orly Airport to Charles 
de Gaulle Airport, where Air 
France has a hub operation. 

She said Delta and Air France 
would also announce an agreement 
to link frequent-flier programs be- 
ginning April 7. That does not re- 
quire regulatory approval 

Meanwhile, five Delta employ- 
ees went into the second day of a 
hunger strike Tuesday, as about 
700 workers, about half of them 
also from Delta, protested the air- 
line’s plans to ait 600 to 800 jobs 
in Europe, most of them in Frank- 
furt. (Bloomberg, AP) 


Dollar 
On Ho-Hu 



Coca-Cola Forms Nordic Alliance 


Source: Bloomberg, Reuters 


Internationa] Herald Tribune 


Very briefly: 


America Online Sets Japan Service 


TOKYO (Combined Dispatches) — America Online Inc. 
said Tuesday it would start a Japanese version of its on-line 
service next month with Mitsui & Co. and Nihon Keizai 
Shimbun. 

The service is to start April 15 and be published in Japanese 
and offer Japanese information, customer service and hilling . 
The company, which operates America’s largest on-line ser- 
vice, saiait expected the Japanese service to become its largest 
international venture. (Bloomberg, AP) 


Om^StdbfOvSufFrcmDIi pmhe s. 

ATLANTA — Coca-Cola Co. 
said Tuesday that it formed Coca- 
Cola Nordic Beverages, a joint ven- 
ture withCarisberg A/S of Denmark, 
as its Nordic “anchor” bottler. 

In Coca-Cola’s worldwide bot- 
tling system, anchor bottlers are those 
in which the Atlanta-based company 
holds a large stake. Carlsberg holds a 


51 percent stake in the venture, and 
Coca-Cola holds 49 percent of what 
will be (he Atlanta-based company's 
ninth such anchor bottler. 

Coca-Cola Nordic Beverages will 
own and control Coke bottling and 
distribution operations in Denmark, 
and Sweden, with plans to expand to 
Norway. The venture gave Coca- 
Cola a distributor in Scandinavia 


said it would end 
another bottler in 


its agreement wi; 

June. 

So-called anchor bottlers consti- 
tute a key part of Coca- Cola's 
strategy to expand globally. Top- 
ically, Coca-Cola owns a minority 
stake in the large bottlers and sits on 
their boards. 

(Bloomberg, Reuters) 


CjurSt^^OurSi^FnmDhtm^a 

■NEW YORK — Die dollar rose 
modestly against other major cur- 
rencies Tuesday in anticipation that 
the Federal Reserve Board would 
rates interest rates, and the currency 
held onto its gflin-q after the long- 
expected action was taken. 

The Federal Reserve chairman, 
Alan Greenspan, had long hinted 
that the central bank might raise 
rates as a preemptive strike against 
inflati on, and dealers said the mar- 
ket had largely priced in the gain. 

The dollar rose to 123.715 yen in 
4 P.M. trading from 122.885 yen 
the day before and to 1.6898 
Deutsche marks from 1.6868 DM. 

“It was totally anticlimactic,” 
Nathaniel Litwak, manager of for- 
eign exchange at Bank Indosuez, 
said of the Fed's move. ‘ ‘The dollar 
didn’t react at all.” 

Earl Johnson, an analyst at Bank 
of Montreal, said, “Dus Was the 
most widely anticipated and totally 
discounted of rate hikes.’* 

The rate increase' nevertheless 
underpinned the dollar’s broad ap- 
peal, dealers said, noting that the 
U.S. currency had risen 10 percent 
against the mark and 7 percent 
against the yen this year. 

“A lot of money continues to 
flow out of Japan,' said Seth Co- 
hen, head of currency sales at Union 
Bank of Switzerland. “Japanese 


money managers and life insurers! 
.are looking ip where they can eara^ 
the best return.” - . 

Dk dollar also got suppcmjj 
against the yen as expectations mat 
japan might raise interest rates, di-r 



dis AHfl 



investors 


FOREIGN EXCHANGE 


s . ■F'tU*- . - r 

: ^ Saadi- 4 


mmished. Japan’s call rare, the Me > 
that banks charge one armthexloF,. 
■overnight loans, slipped -;rafcr __ 
climbing Monday to ns highest u 
level in 18 months. . i 

Tfae Bank of Japan said the rate 
rose Monday because of demand n 
for funds from companies before;! 
Japan’s fiscal year ends ai (heftfe^ 
ginning of next week, rathe r tfaaa h 
because of any changes in moBcstaty i 

policy. • ' -V-- -* 

Dealers expressed doubt that 
there would be any major move-*? 
ment for the dollar inlhe near term j 
after the U.S. rate increase^ 

‘‘There’s very tittle interest from o 
the real money guys to do- any- a 
thing," Mr. Cohen said. “Mpsrof 
the smart money is not establishing 4 
new positions. right now.” " ~ :T 

Against other currencies, theSBbt- 3 
lar climbed to 1.4655 Swiss fteUcsV 
from 1.4584 francs and to 5.699fH 
French francs from 5.6935- francs. ■> 
The pound was unchanged at 
$1.6195. " “ V 

(Bloomberg, Bridge News) j 


a 


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RATES: Fed Makes the Expected Upward Move, Leaving Investors Wondering What It Will Do Next 


Continued from Page 1 


Exxon to Expand Share Buybacks 


IRVING, Texas (Reuters) — Exxon Corp. said Tuesday it 
intended to increase its share-repurchase program and reduce 
its number of common shares outstanding. 

The company set no stock repurchase target, and its said the 
purchases may be discontinued at any time. Exxon said it had 
purchased 550 million treasury shares at a cost of $18.8 billion 
since 1983, representing 32 percent of its shares outstanding at 
the beginning of 1983. 


• Barney’s Inc. owners Robert and Eugene Pressman were 
ordered by a New York state judge to repay $167 million in 
loans to Isetan Co., a Japanese retailer that sued the Press- 
mans Jan. 12, 1996. a day after the New York retailer sought 
protection from its creditors. 


VF Corp. plans to acquire the lingerie maker Maidenform 
dwideftnc 


Worldwide Inc^ strengthening its position as a leading maker 
of women’s intimate appaneL Terms were not disclosed. 

• Charles Schwab Corp., the biggest U.S discount brokerage 
concern, paid its chairman and namesake $ 10.2 milli on last 
year. The company paid Mr. Schwab, who is also chief 
executive, $800,000 in salary, $18,8 10 in other compensation 
and $9.4 million in bonuses, a 9.1 percent increase from 1995, 
according to a regulatory filing. Bloomberg News 


is charged on loans it makes to bank- 
ing institutions, remained at 5 per- 
cent. 

In several public 
since December, Alan 
the Fed chairman, warned that the 
central bank was concerned about 
the level of stock prices, which he 
said might reflect “irrational ex- 
uberance" on the part of investors. 
Such exuberance, be warned, could 
cause increased spending that would 
trigger price increases. Last month, 
be said the central bank would not 
rule out a ‘ ‘preemptive” increase in 
interest rates “before any sign of 
actual higher inflation becomes 
evident” 

Alan Ackerman, executive vice 
ident of Fahnestock & Co., 
:ned the action to “a dose of old- 
fashioned castor oil,” saying, “It 
seems worse than it is.” He said he 
thought the single rate increase 
would be sufficient to quell fears of 
inflation, although he noted the cen- 


tral bank's penchant for multiple 
moves. 

Mr. Ackerman said he did not 
think the rate increase would have a 
significant effect on economic 
growth if consumers remained 
price-conscious buyers in coming 
months. 

Analysts at Merrill Lynch & Co., 
however, said they did not think die 
Fed was embarking on a series of 
interest-rate increases. They noted 
that the 5.5 percent fed funds rate 
was about three percentage points 
above inflation, making for a re- 
strictive monetary policy. 

But Philip Braverman. chief 
economist of DKB Securities 
(USA) Corp., said there were no 
signs of inflation and several good 
reasons for the Fed not to have 
raised rates. 

“Prices are not set in the United 
States,” be said, “they are set glob- 
ally.” American workers are wor- 
ried about competition from other 
countries, and not just in the dwind- 
ling manufacturing sector, where 


there is “plenty of labor at 54 cents 
an hour” in such countries as China, 
Mr. Braverman contended. 

David Wyss, research director for 
DRI/McGraw-Hill noted a widen- 
ing gulf between affluent and im- 
poverished Americans that probably 
would widen if the economy were to 


U.S. STOCKS 


weaken. DRV 
[cGraw-Ffill, a provider of eco- 
nomic consulting and information 
services, has found that 27 percent 
of American families with annual 
household income below $ 10,000 
have credit-card obligations that ex- 
ceed 40 percent of their earnings. 

A related cloud hanging over the 
U.S. economy has been rising per- 
sonal bankruptcy filings. Last year, 
bankruptcies rose 27 percent, to a 
record 1.2 million. Although the in- 
terest rates on most credit cards held 
by low-income people are not di- 


rectly linked to money-market rates, 
r. Wyss said an economic slow- 


Mr. 


down would be dangerous because 
it would increase the likelihood of 
defaults if incomes felL 

American consumers were not 
worried for most of the month and 
showed growing confidence in their 
ability to find jobs. In the Confer- 
ence Board’s monthly survey for 
March, only 18.6 percent of the 
5,000 households surveyed thought 
jobs were hard to get, compared 
with 33.1 percent who thought po- 
sitions were “plentiful” and 48.3 
percent who considered employ- 
ment “available.” 

U.S. stocks retreated, led by pa- 
per, aluminum and rail shares, amid 
concern that rising interest rates 
would slow die pace of the econ- 
omy's expansion. 

The Dow Jones industrial average 
closed 29.08 points lower at 
6,876.17, giving up an earlier gain. : 
In the minutes after the Federal Re- 
serve took its rate action, the av- 
erage shot up to a gain of 47.21 
points before slumping to post 
losses as great as 35 points. . — 


Die Standard & Poor's 500 Index 
slipped 1.82 points to 789.07. - - 

j-aading the drop were shares of 
companies whose profits do best: 
when the economy is booming. In- 
ternational Paper, Union Pacific and .. 
Aluminum Co. of America posted 
losses.- : -- 

Stocks were hurt by higher bond 


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yields. The yield on the benchmark" 
30-y “ ’ - -- 


-year Treasury bond, - which 
moves in the opposite direction 
from the price, rose to 6.95 percent 
from about 6.90 perc e nt before the 
announcement and from 6.92 per- c 
cent on Monday. 

In 1994, when the Fed begra a * 
series of seven rate increases, fiKr r ; 
Dcrwmdustrialsrosejust2.1pOTcem. I 
The stock market crash of 1987 was r 
preceded by a series of rate rises: - 
• Many technology shares r&- *> 
covered slightly from recent'sharp - 
losses, as the Nasdaq co mp o si te in- *.• 
dex was quoted 5.42 points higher at 
1,248.06! •- 

• . Intel was' up 2% at -.13314, and • 
Ctsco-Systems- was upA<LsL43%, 




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Dow Jones 

Om HM LM ua a, 
tadus 69Z1J7 (OSUb a BM 6674.17 -»ffl 
Irani TOUA MflJM MliM VKM -IMS 
Utl 22152 22tM TOM 77408 *1.12 

Gamp 21 sum zisasa 212M0 7137^m -*m 


NYSE 


High Low Lota! Cbgc Optai 


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1M 
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TMny 


♦W 

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hKiusMab 

Transp. 

UflMes 

Finance 

5P508 

SP 100 


92177 91005 921 j67 92016 
57X86 56472 57377 56*86 
19122 19176 19116 19478 
9190 9171 9277 9125 

7912)1 78079 79089 7892)7 
769 JM 758.02 76878 76774 


Soogatoi 


Vol HW> 
B21M TSVi 
ssm ish 
52M6 M 
40612 7» 
41262 27 
37SS8 3 V/t 
37490 4in 
36700 59** 
34720 3P* 
33807 119ft 
33773 130ft 
33108 40ft 
32767 92ft 
31371 33ft 
30630 46 


Low Lncf O, 


29ft 29ft 
14ft 16ft 
35ft 36 
76ft 77 
19ft TMI 
38ft 38ft 
37ft 40ft 
58ft SBft 
37ft 38ft 
116ft 118ft 
I34ft 136ft 
59ft 59ft 
m* soft 
32ft 331* 
42ft 45ft 


♦ft 

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Grains 


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OORN fCBOT} 

3.000 bu minimum- esnti pm- txohH 

Until 30391 298ft 302ft +3ft 140631 
J01W 305 3K) 304Vi 

Sep 97 29S 294 296% 

Dec 97 297 292ft 294ft 

Morn 300ft 277 299 

Etf.sota M J. Man's. sales 5U97 
Mon'sooenlrtf 372792 oH 5491 


♦4ft 100497 
*2 17720 
‘2ft 64,184 
♦2ft 8.199 


ORANGE JUKE (NCTN) 

151000 8K.- carts ncr ID. 

May 97 8558 83.15 8375 -ITS H811 

JU 97 87.45 8580 8570 -175 5.M4 

Sep 97 8850 075 075 -070 3722 

Nov 97 90.10 8980 B9JB -4UJ5 \A» 

Est. sales MA Mm's, sales 2L400 
Men's open im 24779 up 282 


ID-YEAR NRENCN GOV. BONOS (MATin 


H=500000-ptaofl00pd 
Jun 97 12&26 1086 128.18 *024 158776 
Sep 97 12686 12670 12670 +074 ZlOl 
Doc 97 9680 9620 9680 *43* 0 

Est vakme: BOS1 . Om M4 MQ477 WIAUZ 


industrials 


Metals 


18 
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X NYSE 


Nasdaq 


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Mudikfe 

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NW 

4 19J0 41315 41581 
^89 52085 52170 
0545 36981 37089 
26680 2648* 26484 
390J9 305.91 305,92 


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MuSnS 

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Insurance 

Francs 

Tramp. 


125171 124488 1344.13 
1047JH 1043.90 1045.17 
4R90 140886 141106 
US2J5 144576 144581 
174774 17082 1744JJ4 
B60.18 85526 85680 


+389 

+186 

♦570 

-632 

+170 

♦881 


MedCmps 

CmcCm 

FaraSyss 

DtKptS 


165014 48ft 
143908 )3S 
111770 91*9 
102246 I2N 
65067 50 
66433 40ft 

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49997 If 

46350 54 
41814 24U 
41761 33<* 
40331 95ft 


47ft 47ft 
130 133ft 
80ft 90V» 
11*9 12ft 
46 491* 
38*9 39 

JW 14 
24to 36ft 
17 17*9 
65*9 67ft 
32ft 3349 
50ft 52%. 
23ft 2349 
20ft 32ft 
WI 9219 


a*. 

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SOYBEAN MEAL (CBOT) 

100 lon»- ool tors per tan 
Mcy77 279.40 275.10 27770 +280 45.OT 

JUC97 274LJ0 27TJ30 27380 +170 27J51 

Aug 97 26480 26180 26270 +280 8851 

Seo97 24780 24480 2D5./9 +170 5707 

Ocf 97 22680 2Z480 225.W 4855 

Dec 97 223m 22080 221 JO +080 9J79 

Ed.sota NA Mon’s, softs 16822 
Men's wwiint 103793 off 953 


GOLD (NCM70 

100 troy oz.- doflorsowirDym. 

Mar 97 34770 —270 2 

Art 97 35280 34780 34820 -270 39861 

May 97 349 JO —280 2 

Jun 97 35480 35080 35080 -250 44882 

AUBV7 35681 3S280 35280 -250 11874 

OCJ97 35080 3BJ0 355.30 —280 5844 

Dec 97 36180 35780 357.90 -250 21873 

R*98 36080 -250 5,109 

Esi. softs 00800 Mai's.saks 34843 
Mon's open int 166760 off 1134 


SOYBEAN 02 (C80TT) 

40800 1»- certs per lb 

MOV 97 24J8 2380 24.15 +DJ0 41815 

M97 2481 2*72 2489 ♦0J3 29738 

AUB97 3480 24fi 2477 -071 6J71 

Sep 97 2455 2475 2485 +0J0 3862 

Ocf 97 2585 2485 2585 +077 3883 

Dec97 25J0 2580 25J0 +OJO 11.113 

Esf.sotes NA Man's. sales 33,162 
Men's ooenlnt 9683* off 1797 


AMEX 


-ft 
+1Vi 
■V. 
-ft 
♦ 19 


Hftk Lot Lnt 
58219 50685 566.16 


AMEX 
5PM 


Dow Jones Bond 


Oum Oft. 

20 Bonds 10287 +0315 

lOUflmte 99.43 Unch. 

10 Industrials 105.71 +210 


smu. 

VlDCB 


VtaL Hftb 

20359 79 
6132 10U 

4677 H 
4 E3 7W» 
3094 19 

355* 7ft 
3403 3V» 

3206 40ft 
3053 46ft 
3044 37 


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6*4 6*4 

iSS .q 

IS 3ft 
40 404 
46ft 46ft 
3619 36ft 


+ft 

♦ft 

-ft 


SOYBEANS (CBOT) 

5800 Du n*i knwn- cents per Duitai 
May 97 847 830*6 842 +10ft 77.228 

JU197 H m BOV — +11 58.985 

Aug 97 628ft 815ft B24 , 8 +8V, 8872 

SOP 97 762 756 759ft +7ft 5860 

Nov 97 710ft 705ft 708ft *3ft 3389) 

Est sales NA Mon's, srtes C8BS 
Mon's open int 186826 Off 1667 


M GRADE COPPER (NCMX) 

2S.0Q0 4m.- CBrti per Be 

Marti 11988 I17JB 11*80 *Z10 

Art 97 113.90 11180 11380 +180 

May 97 11120 11040 11190 +185 

Jun 97 11070 109.08 11070 +185 

Jul97 10980 10780 109.15 +185 

Aug 97 10780 10780 10780 +180 

Sep 97 10630 IQUa 106.10 +180 

Od97 105.10 +180 

NOV 97 10410 +180 

Esf. sales 8800 MoiTs.srtes 5859 
Mart's owl int 56856 off 371 


1971 

4813 

23873 

1,139 

8846 

679 

3.978 

614 

749 


ITALIAN GOVERNMENT BOND OJFFE] 

ITL 200 m«oa - pts of too pd 
ham 12525 12488 1K21 + 071 104176 

5«p97 12480 12480 12586 +071 1110 

Est. Idas; 45872. Prey, sole* 51024 
Piev.opoitloU 109806 op B3S 
EURODOLLARS (CMEJO 
si milon-Ptsof lOOPCt. 

Apr 97 9125 94.19 94.19 

May 97 94.17 94.10 94.10 

Jun 97 94.12 9482 9483 

Sep 97 9380 9377 9378 

Dec 97 9386 9353 9384 

Mar 98 9384 9381 9382 

Jun 98 9385 9381 9383 

Sep 96 9136 9383 9384 

Dec 98 9384 93.13 9114 

Mar 99 9383 9JJ2 9113 
Jun 99 93J® 9110 9118 

Sep 99 9316 7106 9106 

Esf. sales na Man's, soles 278,790 
Man's open In! 13*0,164 off 4408 


-084 41,186 
— 4UM 24,533 
-004 501113 
—085 374818 
-M6 2S9J27 

— ttOS 206839 
— 106 159842 
-086 122851 
—006 10*885 
-006 81,629 
-005 74*571 
—405 56741 


COTTON 2 WCTW 

90000 ts-anb pot Ol - .. ■; 

ttmV 7420 72J0D 7139. -13* 32846. .. .. 

JU97 7585 74J1 7420 —UT 15J41 „ 

Ocf 97 7460 7555 7573 -077 . 1560 

Dec 97 7584 TUB 76.16 . -4LS4 21310 . . 

Mflf SB 7780 77 jOS 77 JS -055 1,987 t 

May 99 7785 -055 SBj! 

EsLsides NA Man'LXfes 7J80 . r- 

Mon's open inf 74838 up m -g 

HEATWOOtL (NMER) '* - 

4UU pal, arts par oal _ J ". 

Art 97 57.M, 5560 5680 +0Jff 20,172 ; - 

May 97 505 5575 5573 +043 288T9 -• 

8*1 97 . 5635 5535 SLfO +08] 14828' 

5SJD 5585 56. W +033 T2837 A 

Aug 97 57 JB 5630 5410 +OS 13*7 . 

Sep 97 580 5X« 5780 +081 S232 ’ 

Oct 97 5830 BM 5030 +083 4,132 A ‘. 

NOV »7 59. M) 5875 59.W 40B3 48» “. 

5985 »J0 5985 +083 1734 

Jm9B 5970 S980 5980 +038. 4830 , 

Eisales 31471 Man's, sales 32JEZ6 •" 

Mon's open M 122815 - - 

LTCHTSWBrrCRUDE (NMER) ' ■ \ 

1800 Wt^doftn per boL 


tes as- 






'j 


BRITISH POUMO tCMBQ 

628D0 pounds, s per pound 

Jun 97 18198 18128 18T7S 34,142 

Sep 97 18180 18130 18152 753 

Dec 97 18100 18124 91 

E9L softs NA Moo'S, softs 14,991 

Mai's open W 34,986 off 1634 


Jun 97 2131 
JW 97 21.13 


WHEAT (CBOT) 

MOO bu minimum- carts c 


Trading Activity 


May 97 

391 

386U 

38915 

+3 

27.749 

All 77 

286 

2801b 

385Vj 

♦ S 

*1430 

Sen 97 

388 

381 

387V, 

+ 5 

MOO 

Dec 97 

TOW 

390 

39S 

•4ft 

MBS 


SLVBMNCMX) 

SOHO Irpy oi- certs par 
Mar 97 51680 55980 
Art 97 

May 97 52080 51080 
Jul97 524J0 51580 
Sep 97 52530 51930 
Dec 97 53380 52430 
Jan 98 
Mar 98 

Est. sates 19800 Man 1 
Men's open na 1 off 


MVOL 

50980 

50980 

51280 

517.10 

522.10 
52980 
53230 
3760 

's, soles 

90320 


-770 240 

—770 3 

-770 54800 
— 780 18,186 
— 780 3311 
-780 5,196 
-780 13 

—7 JO 5352 
11800 


CANADIAN DOLLAR (CMBI) 

100800 donors, s per on. dr 
Jun 97 7311 729'! 7255 0315 

Sep 97 7350 7337 7337 4377 

Dec 77 7372 7372 7374 1JK6 

Marts 7412 09 

Bi. sales NA Man's, sabs 8861 

Man's open int 75374 off 1943 


Oct 97 2 OBT 2086 
NOV97 2079 2080 

Dec 97 2074 2083 

JOT98 2072 2032 

Feb 98 W) 


3DJS 

2099 

-007 7X199 

MJ93 

2097 

-005 

9U71 : 

2006 

2089 

—0(0 

27,921 

2073 

■ffm 

—sun 

20100 

2BJB 

2072 

_4fll 

13J43 

2066 

2066 


15,155 

2060 

2060 


1X48 : 

2053 

2055 


soon ' 

2053 

2052 


0622 

2051 

2051 

+(un 

XB3 

2049 

2049 

+081 

.1078 


20*7 

+001 

_M15. 


2046 

♦ora 

till. 


NYSE 

AdMnced 
Dcdned 
Undianged 
Total issues 


Nasdaq 


Est.Mte NA Man's. sales 11366 
Marts open Int 80859 up 964 


1323 

lira 

B06 


1223 Advanced 

1 


1782 1544 
1410 2463 
2361 1746 
57S3 5753 

3 ,3 


Livestock 


IA 


1ft 

II* 

Ai 

71ft 

IS 


- AMEX 


Market Sates 


238 m 


Today 


3ft 


3ft 


284 


3*1 

27ft 

3*, 

IIM 

18ft 

lift 

Uft 


4*J 

♦ft 

-ft 

♦ft 


TWO 1 

New Korn 
New Lobe 


ill 

438 NYSE 
SH SS Amex 

IS IS 


tnmHBota. 


48038 535.92 

If 10 22.20 

511.94 594.97 


CATTLE (CMBt) 

40.000 AS.- cents per ft. 

Art 97 6837 6780 60.10 -4132 

Jun 97 64JB 6330 6333 -050 

Aug 97 4177 6382 4152 -025 

Oder 67.17 66JBS 6L91 . —0.18 

Dec 97 6980 030 +0.05 

Fean 7082 7082 7082 +0.17 

Estsdes 12346 Man's. ssta 14863 
Man's open jtf 10686S off 761 


30887 

28J0 

21.941 

15JH8 

7746 

3867 


Previous 


Dividends 


■ft 

♦n 

•ft 


w 


IH 

2ft 

E 

78*. 

sn% 

,3 

vr» 

5ft 

TA 

161* 

40* 


Company 

Per Ant Rec 

Pojr 

IRREGULAR 



AS8 RnancW 

_ .10 

4-15 

4-30 

&k TokMIraubisH 

b .0357 

3-28 


Empresa NocElect 

b 1JZ42 

fr!6 

7-10 

Erapsaa Nl El Ch 

b A3D6 

4-8 


EnersbSAADR 

b J626 

4-11 



France GrwttiFd 

- -3283 

4-3 

4-18 

R&GFnd B 

- J >75 

4-15 

5-15 


company Per Amt Rec Pay 

PatrtarAm Hospn _ M?s 3-28 4-30 
REGULAR 

Air POOS & diem 0 375 4-1 5-12 


13*9 

17ft 

ion 

22ft 

94 

3V 

10*1 

30*9 

in 

«ft 

on 

tn* 

22ft 

lw. 

1M 

£ 

lift 

Sft 

ft 

17ft 

ft 

A 

JV. 

12ft 

25*1 

33*9 

3619 

1*4 

7W. 


*19 

-ft 

♦h 

♦ft 

♦ft 


♦ft 

♦ifl 


STOCK SPUT 

BanenSamandetSA Slorl spot 
GFS Boncore 2 tor 1 spat 
Trieown Cp NwZeafrid 2 for | spin. 

REVERSE stock split 
M fJffyFashto«i I hr TO retwse spiff. 
Seibels 8iw» Gp l for 4 reverse spa. 
wms Indus l stare of whg Resorts & cosJ- 
nas Inc for eoch 4 shores held. 

INCREASED 


-ft 

+ft 

-t. 

*19 

■ft 

♦1* 

♦ft 

-ft 

-y» 


Bell Atlantic 
HCCInswHWg 
ICNPhorm 
Jeffnreon Btahrs 
Managers BdFd 

wwenPnd 


Q J4 4-10 5-1 

Q D3 4-1 4-11 

a .08 +9 4-23 

Q -25 4-7 4-30 

M .12 3-24 3-76 

Q .115 »1 4-14 


INITIAL 


Americas litco Tr 
AsSro-MMlnc 
BrfB China Auto 
Broadway Fnd 
Cascade NntGos 
Cesitury Alumlnurn 
Ennis flusinnss 
Haftttn Bncp Inc 
HoftlM5hnBon 
HetbalHe lidl 
hagidander Inco 
IduCo 

LAW Mand Bncp 

Norm Fort Bncp 

SerekBMosJerLP, 

Stratton MntrtfDh, 

SubwbFed Fnacp 
SuimnR TxExmpt 
TCA Cable TV, 
TeteonosMexL 
TelefonasMestL 
TeJefonosMexL 
Unocal Com 
weuiaglsn Prop 


t>5 « 8-23 

.03 3-24 4-4 

314 4-10 4-30 
3)5 3-31 4-30 
M 4-15 5-15 

-05 3-31 4-7 

.155 4-15 5-1 

.10 4-4 4-1B 

57 4-10 8-38 
.15 S-l 56 


1 CATTLE (CMER) 

50800 HM.- cents par b. 

MOT 97 6935 69.15 69 JO -OID 

Art 97 68J0 6425 6885 -417 

May 97 6935 6880 6*87 -417 

Alls 97 73.15 7156 7HJ -407 

Sep 97 7150 7115 7385 OQ5 

Od 97 7485 7170 7385 -413 

Esf. sales 1350 Mon'S. Kiss 2,174 
Mafsopenlrt 22J0S up 99 


1,973 

1*44 

y« 

5806 

1875 

2,179 


PLATINUM (NMER) 

SO trov dz.- Holm per trov az. 

Apr 97 379 JO 374JD 37550 —100 11845 

May 97 38450 

Jut 97 36280 37780 378.10 -270 5830 

Od 97 38480 379 JO 30OJO -2JO 1,723 

Jan 98 30450 J8270 3BJJ0 -2JO 1,137 

Ea.sata NA Marts, solas 1537 
Man's open int 20.139 

LONDON METALS (LME) 

Dollars per metric ran 
AlwnlniM IMIbM Grade) 

Spot 1616.00 161780 1426ft 1627ft 
Parurart 1449.00 145080 145980 164080 
r Catkodes (Higti Grade) 

243080 24324B 2+2080 24Z380 
; --ard 237080 237180 236580 234480 
Lead 

Spat 48580 68680 683ft 684ft 

Forward 48080 68T.00 683.00 48480 

Nicfeei 

Spot 764080 745080 774580 775580 
Forward 775580 774580 784080 7B6580 

Soot 581080 582080 581580 5825X0 
I 5845X0 5850X0 584580 507080 


GERMAN MARK (CM8U 
12S800 marts, spar morfc 
Jun 97 J96B J9» J951 

Sep 97 ADOS J97U .5990 

Dec 97 6031 MW MU 

Merit Jim 

EsL sales NA Mon's, sales 9,179 
Marts open H 41,974 off 593 


59,307 

2J05 

135 

27 


JAPAMSSYBIICMBU 
1U naan yen. S dw 100 van 
JWI 97 8219 8155 8184 

Sep 97 8304 8275 8274 

Dec 97 8420 MB 8408 
Bl. sales NA Marts, sales 7jn 
Mon’s opai fad 45,147 off 413 


64,135 

797 

215 


SWISS FRANC (OHBU 
115800 (rttacs, saw tranc 
Jun 97 J934 8850 8884 

Sen 97 J9» 8920 6954 

Dec 97 jon JOTO JW 

Estsoies NA Marts.sata 8.938 
Mon's open irt 394S9 off 774 


Apr 98 
May 98 

EsL sales 76,154 Marts, sdes a MB 
Man's open int 389839 off 3021 
NATURAL GAS (NMBt) 

10800 ran htrts. S Mr nmi Ma 
Moy97 1805 1841 1884 

Amw 18SB 1J00 l.rao 

Ad97 1JJ0 1.9SS 1350 

Aog97 1.980 1850 1860 

fSS «so i.m 

Ocf 97 2025 1390 7800 

NovW 2145 tta 2145 
Doc 97 2285 2250 2270 
£n» 2825 2295 2810 
Feb 93 2260 2220 28® 

M?98 2V6 2195 1120 

gisota 21813 Marts. sata 72^58 
Martsopenlrt 159823 off 16032 

UNLEADED GASOLME (NMSU 

42800001 certs per gal - 

Apr 97 6430 66.10 6482 +4L01 lisa 

MarfT 6460 4580 66JB —082 39jS.:;_ 


r r 


■3M98 -1 k 
14869 • * f. 

-YJ2B “’j 
mun ' . 
ISAM > 

5807 ■ 
HMD '-i; • 
10,193 - 
- 4354 - 
4)51. “ 


s r *set 71081 
no 






34932 

2841 


1 T7«31*b 
84948 
64104 


M 894 4-3 4-23 


.12 4-15 4-30 
.15 4-14 5-14 
85 4-25 5-T5 
.17 4-1B 4-30 
.16 3-31 4-8 

88 4-1 4-15 
J1 3-31 5-15 
.14 4-7 4-21 

- -«7S 6-1 a 6-24 

- .4375 g-17 9-25 

- 8375 12-17 12-26 

0 JO 6-10 5-9 

Q.21Z5 3-31 4-15 


HOGS-LOBI (CMER) 

40800 Us.-amtspwfc. 

Art 97 74J0 7167 73.17 —1.10 

Jun 97 8180 8045 8085 -180 

Jul 77 7980 78.47 78.97 —1JS 

Aug 97 7437 7587 7582 -0.90 

Od97 SIX 49.15 49J9 —077 

Dec 97 <880 <7.15 6787 -087 

EG. sales U475 Man's, sales M871 
MortsooanW 31812 up 207 


9841 

13853 

38M 

3822 

1.796 

186* 


5F* „ 

Z)k (SpecM HM Grade) 

Spot 127380 1274.08 127280 137380 
Forworn 129580 129680 129580 1395ft 


2UU 

11449 

w 


HlgB LOW Close Cfige Opfaii 


PORK BELLIES (CMER) 

40JB0 ta.- corti per ta. 

Mar 97 7880 7580 75.95 -285 14 

MOV 97 7145 75.90 75.95 -190 3JM 

Jul 97 7880 7545 7580 -285 2^24 

Aug 97 7142 71X 7380 -187 404 

Feb 90 6».55 6885 6885 -085 75 

Maria 69.00 6880 68.10 —180 8 

Est. soles HB3 Man’s, sdes 1575 
Mon’s open W 6813 up 367 


1851 

6840 

V26 

817 


Swumey Elec _ .15 4-30 6-1 

GFSBcenaxpn 


- 85 4-11 4-25 


o-fftewb b-toonatoate orasant per 

*tora/ADR; B-puyoWr m Cownta toads; 
ty? g-flUOrfatly; s-sanl-aiiauat 


Financial 

UST. BILLS (CMER) 

61 mUOan- pts of 100 act. 

Mor97 9477 9473 9474 *081 
Jun 97 9444 9456 9457 —BM 
SpO 97 9440 9431 943( -086 

Dec 77 9448 

Est. softs NA Mon's. sete 651 
Mon's open Ini 10815 up 310 
SYR. TREASURY (CBOT) 

C 1 florae prtn- irta AMtlnol 100 prt 
Jun »7 106-30 104-53 106-54 —14 211315 

SboW 10488 —14 3 

D« 97 104.35 -14 5 

EtfjteS 61000 Man's sates 30400 
MafSOPWW 318863 off 8543 


S*p97 

DeC77 


Food 


•w 

+V. 

-fti 

♦u 


-ft 

-ft 

tWa 


ft 

13ft 

12to 

12ft 

171* 

s*S» 

Oft 

a 

10*, 

Uft 

Wft 

Sft 

W 

I 

“a 


Stock Tables Explained 

Sales figures ae wtaiScU.^ Yfearty highs and hws nefled the previous 52 weeks ala He current 

Ottrarwise noted, rota of Addends are annual dsbmMmenb based tn He totes} dedttanm. 
o-^^t^aw^.b^nnurtt^oftJMtleTxiBliasrocktfivldetxLc-llntAlatt^ 

• - cBvWWfl oedoretl or paid In preceding 12 months. ( ■ annual rate. Increased on lori 

dedoratiOiL g - dividend In OmaAsi funds, subfeef to 15% notwesMence i ■ dMdend 
doored BflerspU-upar5tod( dividend. I ‘dividend paid mis year, oroiltod. defined, or na 

adton taken at Infest dhriderai meeting, k - dividend declared or paid ttifc year, on 
omimutothre issue wBh dMdends in orreora. ■*- annuel rate, reduced on last dectoraflon. 
n - new Issu e In me past g weeks. Tfte hlgMew range begins wlffi the shm of trognq. 
■d - next day flenvery. p - WTlaJ tOvtomw, annual rale unknown. P/E - price-earnings mtta. 
d-cjMttendD^uatftmdr^fl'il^ deel^wpaid m pre«^ Wmonttispiuss^ 
dMdends^docfc^jlB. Dividend beglnswmidatoofsoltt.sk- sofas. t-dMdend paid fat 

Stock in preceding 12 montas, esMmatod cash value on ex-dividend or e*-dlstitoutton date. 
u- i^y e^^jLy-irodlrtoiMHeAv>-totonfcnroicyrtrecei»ei5atowBelitore<iraaii2Bd 
underlie Bonkrvps^AcLorsecurtoK ossumed by such companies, wd-wtien dbftfeuted. 
wl - when issued/ ww - with warra n ts. * - et-dMdimd or e*-rtnhts. xtfis - ev-tflstribatJon. 
M - wffhMJt iwronts. f e»-dMdend and sales In toll. ykf-yteH. i -sales In tolL 


COCOA (W3E) 


MOV 97 1451 
JU97 W80 
Sec 97 1505 

Dec 97 1526 


per ton 
1430 

144 

+13 

31,04 

140 

1671 

til 

2X3« 

1406 

MTS 

+ 9 

1WW 

1519 

1521 

♦ It 

X67B 

1545 

1545 

*72 

1065* 


HYR. TREASURY (CBOT) 

SlBMMprln- pt& A 33nds rt 100 nef 
Jur 97 1B7JJ3 10&-m 106-72 —OH 300,160 

Sen 97 106-15 105*77 105-29 -S 

Doc 97 1(0-17 -08 

ESL tofts 84567 Man's, sales 45.240 

Mortswenlnt 327845 up 346 


9839 

to 


CS.nXQ Dfiuv mun9.aupc9 i rnm 

Marts aceflirt 1.100459 up 1063977 


COFFEE CtNCSE) 

27800 *K.'GDrta pgr lb- 
May 97 1BUU I60J0 I79J0 +1640 17.H7 

Jul 97 17050 1S2JD 16685 +1485 7,953 

Sep 97 159 JO U5JB 159J0 +1195 5J85 

Dec 97 14SJ5 13480 14SJ5 +1185 38*5 

Esf. sales 14587 Mai’s, ases 16.770 
Mortsopenmi 36409 Off 104446 

SUGAR-WORLD 11 (NCSQ 

1 12JU0 cona nr b. 

May 97 11-01 1085 1086 -686 61.188 

Jul 97 1074 1082 1043 -084 25,993 

0097 IMS I0J6 1057 -JUB 26,110 

Mar 99 KL64 10J6 MJ# -OM 13407 

Es.sates 1680 Marts, toies 7JS0 
Martsepeninf 141,574 up 41190 


US TREASURY BOND5 (CBOT) 

« "ftMOO A 33rrt| rttOO pen 

Jun 97 109-35 106-18 106-S —08 425,273 

Sep 97 109-09 10-04 108-09 -08 30.77B 

DK97 108-10 1W-27 I07.J8 -08 ‘ 

_ 107-18 -08 

Estsoies 300800 Marts. soles 143445 
Men's open fan smjti up 6B33 
LONG GILT IUFFB1 


5J93 

1447 


tsaoop - as t Unas a u» pet 

!PM7 —Ml 21,954 


Mat 97 110-02 109-27 M , lWV , 

3un97 109-21 10909 ltB-17 -M7 1844« 

5eo97 NT. n.T. 1IM3 + M7 

Est. sales: 518*5. Ptw. saas: S4IM 
Prav. open W.: 20MI4 ug 7838 


GERMAN GOVERNMENT BUND (Uffm 
DM 2 SMU 0 - pts o( 100 pa 
ill 097 10650 Iffida 100.47 * 434 341480 
Sop97 9953 99A5 9984 + QJ4 1J» 

ESL sties 111SM. Pw.stie* 127.112 
Prev. open fait-- 2*2,912 up tau 


3-MOtfTH STERLtNC (UFFE) 

£5oaood - pts tii oo na 

JUD77 9135 9X33 9X34 + BJB 

Sep97 9108 9105 9X07 + iM3 

D«5>7 9X84 9X81 9X84 + 0.0* 

Mor9fi 9X65 9Xfl1 9X6* + OJW 

Ja»a 9Z5D 9X47 9X50 + 0JM 

Sep98 9241 9ZJ8 9241 +084 

DeCTB 9284 9280 9284 +685 

Mo99 9XX9 9X25 9X28 ♦ 003 

JIMI99 9X23 9221 9224 +084 

$4099 9X19 9116 92.18 +004 

DOC99 9X15 9X12 9X1* + a M 

MrtOO 9X10 9X06 9X10 + 084 956 

M, softs M. Pm*, sales 41498 
Prev, open Int; 424J74 off 2120 

3-MONTH Ell ROMANIC (UFFE) 

DM1 fflfflon-PBti IflOjKi 

“ i efS:M 

5H5 SMS ♦ jw 192448 

8£ g ^ 

SH2 +DJH 7W3 ° 

SHS ♦ JOS 57407 

MJB 9426 SfH ♦ aM 2A747 

«S SS 83:11 

»LT NT “25 ^ 

JLT. NT, 94fl2 + (LQ3 2439 

NT. NT. 9383 ♦ flits i wi 

NT. NT. 9344 + AW Hr 

Est softs 11923a. Prev. soles: 87460 
Prev. open H.- 120S.783 uy 7447 

MtoNTH PIBOB (MATin 
FF5 nflBon - is of 100 Kt 

«■» »AiS 9tS IolSi 

9%02 9529 9641 +042 U4*o 

9544 9541 9544 i tjS 

ll^^l 

%% 63 3 ^ 

Esf. vtiunw 364ixOpeniiiU2Sa047flffl43t. 

£MANTH euRQURA 01F9G) 

| TL1 n^ton-gSOflOOpd 

Junv7 9275 91S9 9270 +.njn iiu 

as 8S ss 8 :B* 


----- M.HJ 65.19 -MS.® 19430 ; 

n& m n m m 

a ^ f 

Mortsooenlnt 100J83 - 




GA50ILGPE) 

U4. tisUore per mefffc too - lots of ! 00 sins i T, 

7~1'97 1 73.00 T70JS 17140 + 125 9,984 * 
-ton 97 174.75 17X25 17485 +0J5 111671 — 
IS - ® 174JD0 17525 + 025 4604 1 -7T 
12^ 1 76-75 — a_25 2859 r„i 
IS"® ^F7J5 17880 — 085 14S9ft > 
1KLM 18040—085 8T8 ^ 

Nov97 1BXDQ 18X00 18L00— 085 iffSR \ 
sales: 10460. Open Int: 66331 up '■+ 


be- -, r ■ 


BRENT OIL OPE) 


U4. doBant per banei- lots all JOObOBtfS H 1 


JwGO 

Sep98 

D«S0 

Mum 

Junfy 

Seof9 

Dec99 

MotOO 

jwoo 

SepOO 

DecOO 

Matil 


l 9 - 77 19 -^ 19JM+0H4 6B476 

toj)e97 1944 1943 19^2 + 0^3 XV24B -1 

July 97 1742 1940- 1943 + n^ ]4J®-'; 
AUflW 1940 1943 1942 +086 64M - 

nrtqj 3S-2 I’-S 434? :- 

9°*! 194B 1943 1987 + 086 4889 T 

{ to*9 7 1946 1948 1942 + 034 4805 ,v 

Dec77 19>W 1942 VM7 +SS A 
sales: 41M29. OpGn(nt,-1554tJ3up ^ 


Jun 97 
Sep 97 
Dec 97 
MorW 
Jim 98 
Sep 96 
Dec 98 
Mar 99 
Jun 99 
Sep 99 
Dec 99 
Mot Oo 


Stock Indexes \: 

ten SfS 797 JO -is 17S816 Y 

«UJ0 8MJ0 mm -** S " s 

• ,:-V 

raWflMgtatiM . wf 


acepuuriF) 

to/ 9 jg“ P |»U| ^8 +4U0 394*4 
Mtfh SS- 2SN0 26384 *031 S471 


Jim 97 2SMLO S wg Y 

S« 97 ^-5 33954 +4840 wti •* 

^ ^ ass . 
%% "STKWM.Bta 







S SoS SiS ;gg |!g Commodity indexes 

n se H SS*H 1 W . .. qbh p 


S-S SB *£*» + iuq 
— 9X90 9X86 9X90 —am 
Eti. StiK! 54483. Pm, Sties *0896 
Piev.epralnt3 3*&593 off 


ps& 

GRB Rm ™ 1 


OflM 

146240 

1,96780 

15681 

24540 


X.sS Ai- ,.il 71 

‘M u ’ : 

y _ n- 54 -x rH 




At» "‘-"■■j; u-*’* 

t-i tS^ a-a 





PACK 1 3 





i§£ 


-i -.. - -'Do , . *%, 

9 ' - • 



- • . <• — ‘ n *> (W- 

- 

'\; c tr ^ V 

... ’’ ‘ -i -J-r. 

. : '=v.y 

■ r *t 

. t. ::: J - -s*. 



j i i f J ? I f i t ■ 

; £i ?i tit i Jo \i 


Saudis Allow 
Stock Fund 
For Foreign 
Investors 


Agcnce France-Pnrsse 

ABU DHABI — Saudi Arabia 
has for the first time permitted for- 
eigners to trade in its shares, bankers 
said Tuesday. 

Bankers said Saudi American 
Bank received permission Monday 
fiora the Saudi Arabian Monetary 
Agency, the kingdom's centra] 
bank, to set up the Saudi Arabian 
Investment Fund, to be known as 
SAIF Ltd. The fund is to be listed on 
the London stock exchange and to 
invest mainly in shares of Saudi 
companies. 

Bankers said most of Saudi Ara- 
bia's 12 commercial banks applied 
to establish similar funds after they 
were notified recently that the gov- 
ernment intended to grant limited 
market access to foreign investors. 

“Most banks have presented ap- 
plications for setting up similar 
funds." said Henry Azzam. chief 
economist and deputy manager of 
the National Commercial Bank, the 
biggest bank in Saudi Arabia. ' ‘They 
are expected to get approval.” 

Anzar Ahmad, deputy chairman 
of the Riyadh-based Consultancy 
Center for Financing and Invest- 
ment. one of the main brokers in the 
bank-controlled Saudi stock market, 
Aftfl agreed that the Saudi American 
Bank fund was "just the begin- 
ning" and said more banks were 
expected to get approval for setting 
up similar facilities. 

Saudi Arabia does not have a for- 
mal stock-trading floor. Share deal- 
7 ings are conducted through its b ank 
network, which is the most sophis- 
ticated in the Middle East 

■ Future Power Projects 

Saudi Arabia is expected to pump 
more than $116 billion into power 
- projects to meet demands stemming 
from an anticipated long-term in- 
• crease in consumption, the Saudi in- 
'* - dustry and electricity minister said. 

The minister. Has him Yamani, 
said the funds would be invested as 
: part of a 25-year development plan. 

He said the plan would be financed 
partly by the private sector, which is 
' - to grow in the next several years as 

Riyadh attempts to diversify its 
economy to make it less vulnerable 
to oil-price fluctuations. 


INTERNATIONAL HERALD TRIBUNE. WEDNESDAY, MARCH 26, 1997 


PAGE 13 


EUROPE 


Ford - Werke Posts a $326.1 Million Loss 


CimpdrJH, OwSLtfrnmnup.Ahrs 

COLOGNE — Ford-Werke 
AG. the German unit of Ford Mo- 
tor Co., said Tuesday it had a loss 
of 551.6 million Deutsche marks 
($326. 1 million) last year because 
of changing demand for cars and 
higher production costs. 
Ford-Werke made a profit of 

270.5 million DM in 1995. 
Meanwhile, Germany’s Bay- 

erische Motoren Werke AG said it 
had one of the most successful 
years in its history in 1996 but 
warned that it expected sales 
growth to slow this year because of 
slu gg ish world markets. 

Ford-Werke said its sales rose 

5.5 percent last year, to 26.4 billion 
DM. Unit sales rose 7.2 percent, to 
1.13 million vehicles. 

“The result we are showing 
today is absolutely not satisfac- 
tory.” Ford -Werke ’s chief exec- 
utive. William Boddie, said. 

The company said die loss had 


resulted from selling smaller cars 
at lower profit margins as demand 
shifted away from larger vehicles. 
Higher costs resulting from the 
need to add more accessories to 
cars to maintain sales also were to 
blame, he said. The shift in demand 



K»Un4 h/TV IwwiMnl Viw. 

Ford-Werke’s William Boddie. 


to smaller, lower-margin models 
such as the Fiesta, for example, 
cost it 500 million DM last year, 
the company said. 

Ford-Werke also set up an early- 
re tire mem program intended to cut 
its work force by 800 at a cost of 
300 million DM. 

“The company has already 
made the changes to get out of the 
red.” Mr. Boddie said, adding that 
be was ’‘hopeful*’ the company 
would return to profitability soon. 

One of the company ’s goals is to 
cut production costs by 5 00 million 
DM in 1997 by buying cheaper 
materials and making production 
more efficient. 

But BMW’s chairman. Bemd 
Pischetsrieder, said the shifting 
market gave the company little 
room to improve on its sales growth 
of 13 J percent last year. 

“We are very confident about 
1997,’’ Mr. Pischetsrieder said as 
be disclosed that sales totaled 52.3 


billion DM in 1996. “But we will 
not see the same order of mag- 
nitude of sales growth this year.” 

The company said last week its 
1996 net profit rose 18 percent, to 
820 million DM, in line with ex- 
pectations. BMW declined to make 
a specific profit forecast for 1997, 
although it said it wanted all units 
to reach the 7 percent return on 
sales reported by its car unit. 

(Bloomberg, Reuters) 

■ SEAT Posts Profit 

SEAT SA, the Spanish unit of 
Volkswagen AG, said one-time 
gains helped it post Us first annual 
profit in five years. Bloomberg 
News reported from Barcelona. 

SEAT earned 5.34 billion pe- 
setas ($37.2 million) in 1996, after 
a loss of 11.3 billion pesetas in 
1995. The company had sales of 
607.3 billion pesetas, up more than 
30 percent, and it forecast an op- 
erating profit for 1997. 


If Investor’s Europe 1, 

Frankfurt 

DAX 

London Paris 

FTSE TOO Index GAG 40 


3600 

4650 

2850 


3400 

A, «00 

2700 

Jl 

3200 

yv <350 

y*A 2550 

r* 

3000 j 

J 4200 

/ 2400 

/ 

2800 

4050 /V* 

2250 Ay 


2®°0 ND 
1396 

3900 v 

JFM O N O 

1997 1996 

JFM 4lw O N D 
1997 1996 

JFM 

1997 

Exchange 

index 

Tuesday 

Close 

Prav. 

Cfosa 

% 

Orange 

Amsterdam 

AEX 

727.04 

7T5^2 

+1,76 

Brussels 

BEL-20 

2,106.18 

2J184.03 

+1.06 

Frankfurt 

DAX 

3^40.14 

3,321.64 

+0.82 

Copenhagen 

Stock Market 

531^7 

533J57 

-030 

Helsinki 

HEX Genera] 

2.844J9Q 

2,819.22 

+0.91 

Oslo 

OBX 

589.70 

582.69 

4-tie 

London 

FTSE WO 

4^70.70 

4&430 +133} 

Madrid 

Stock Exchange 

47450 - 

466.92 

*i 38 

■ iMnra 

&H&n 

MJBTEL 

11,821X0 

11847 

+1.4B 

Paris 

CAC40 

2,62425 

2.579.28 

+1.74 

Stockholm 

SX 16. 

2,90831 

2,851^2 +2.02 1 

Vienna 

ATX 

1&&A8 

1^15.68 

-002 

Zurich ■ 

SPi • 

238738 

easa78 

*1.09 


Source: Tetekurs 


tnwnuiHNuI HmU Tribune 


Commerzbank to Buy Montgomery Unit 


Very briefly: 


CceguMhyOu Staff Fnm Uupjuhri 

SAN FRANCISCO — Mont- 
gomery Securities Inc. said Tuesday 
it had agreed to sell its money-man- 
agement subsidiary to Com- 
merzbank AG, Germany's third- 
largest bank, for an estimated $250 
milli on , 

The acquisition will give Com- 
merzbank access to one of America's 
fastest-growing mutual-fund groups. 
About half of the assets of the U.S. 
company’s Montgomery Asset Man- 
agement unit, or $4 billion, is spread 
among 19 mutual funds. 

Montgomery Securities said it 
would use the proceeds from the 
sale to finance growth in its in- 
vestment-banking and brokerage 
businesses. Montgomery Securities 
owns a majority stake in the asset 
manager, and senior management 
controls about 40 percent. 

“The only reason we are selling 
the company is our need for capital 
to fund future growth,” Thomas 
Weisel, chairman of Montgomery 
Securities, said. “To continue 
growing our core businesses of in- 
vestment banking and institutional 
brokerage as well as prime broker- 
age, private client department and 
clearing services, we need to con- 


tinue to increase our capital base. 

“In addition, we are expanding 
our capabilities in high-yield, which 
will require substantial amounts of 
capital. While we had several op- 
tions open to us, the most efficient 
course of action to generate this 
level of funding was the sale.” 

Investment bankers have specu- 
lated for months that Commerzbank 
was seeking to acquire another U.S. 
money-management firm to go 
along with its Boston-based Mar- 
tingale Asset Management LP. 

Commerzbank's name surfaced 
last year as a possible bidder for 
Columbia Management Co., an as- 
set-management concern based in 
Portland, Oregon. Columbia Man- 
agement remains an independent 
company. 

Commerzbank and Montgomery 
Asset Management started negoti- 
ations almost two months ago. Hie 
sale, which still requires approval by 
U.S. authorities, is expected to close 
by July 3 1 . the companies said. 

Montgomery Asset Management 
announced in November that it had 
hired the investment-banking firm 
Putnam, Lovell & Thornton Inc. to 
explore “strategic business oppor- 
tunities," including a possible sale of 


the company or a joint venture. Mer- 
gers have swept the money-manage- 
ment business in recent years. Two of 
the biggest of 1996 were Morgan 
Stanley Group Inc.’s purchase of Van 
Karnpen American Capital Inc. and 
F ranklin Resources Inc. ’s acquisition 
of the money manager Michael 
Price’s mutual-fund company. 

( Bloomberg , Bridge News) 

■ Grenfell Chairman to Leave 

The chairman of Deutsche Mor- 
gan Grenfell, John Craven, will 
resign at the end of June, a year after 
he gave up the post of chief executive 


to take a less active role, the com- 
pany said, according to a Bloomberg 
News dispatch from London. 

Mr. Craven, 56, will join the ad- 
visory board of Grenfell's parent 
company, Deutsche Bank AG. 
Europe’s largest banking concern. 

He also wifi be nonexecutive 
chairman of the British industrial 
company Lonrho PLC and director 
of Reuters Holding PLC. All three 
jobs are pan-time positions. 

As chief executive of Morgan 
Grenfell & Co. in 1989, Mr. Craven 
orchestrated its sale to Deutsche 
Bank, ( Bloomberg , Bridge News) 


Prudential to Buy Scottish Insurer 


Bloomberg News 

LONDON — Prudential Corp. 
said Tuesday it would buy Scot- 
tish Amicable Life Assurance So- 
ciety for about £1.75 billion ($2.8 
billion). 

Prudential, which outbid Ab- 
bey National PLC and Australian 
Mutual Provident, will inject 
£850 million into the Edinburgh- 
based life insurer. 


Consolidation in the British 
life-insurance industry is increas- 
ing as companies seek to take ad- 
vantage of an expected spun in 
sales of life insurance and pension 
plans. The government has told 
Britons not to rely solely on social 
security payments when they re- 
tire. Prudential's shares rose 16 
pence to dose at 556, while Abbey 
National rose 20 to 733. 


• Telkom South Africa Ltd. will get a $1 billion cash 
injection after its partial privatization, paving the way for a 
massive investment in new telephone lines. Deputy President 
Thabo Mbeki said. 

• Peninsular & Oriental Steam Navigation Co. posted a 
better-than-expected pretax profit for 1996 of £320.4 million 
($515 million), little changed from a year earlier, excluding 
£12 million in one-time gains from asset sales. 

• Editoriale L'Espresso SpA. an Italian publisher, is to 
acquire the 23.91 percenr of Editoriale la Repubblica SpA 
that it does not already own. 

• Bezeq, Israel's state-controlled telecommunications com- 
pany. said fourth-quarter net income rose 1 1 percent, to 194 J 
million shekels ($57.8 million) from 176 million shekels a 
year earlier on strength in cellular-phone services and an 
increase in regular phone lines. 

• Da mart SA shares soared to an 18-month high after the 
French maker of thermal clothing and underwear said first- 
half earnings more than tripled. Shares rose 385 francs 
($67.62). or 8.7 percent, to close at 4,825. 

• Merck KGaA, a German pharmaceutical company, said its 
net profit last year rose 36 percent, to 502 million Deutsche 
marks ($295.2 million), as sales rose 10.9 percent, to 6.95 
billion DM. 

• German import prices rose 0.5 percent in February from 
January and 3.0 percent from a year earlier, the federal 
statistics office said. 

• French consumer prices rose 02! percent in February from 
January and 1.6 percent from a year earlier, according to 
official figures. 

• Hermes International SA, a French luxury-goods maker, 

said 1 996 net profit rose 1 3 percent, to 457 million francs from 
404 million francs in 1 995. Bloomberg. Reuters. AFP 


WORLD STOCK MARKETS 


I.*-!: 


Tuesday, March 25 

Prices in mart currencies. 

7MMzns 

High Low aow Prey. 

Amsterdam 

PlWfaOKTISJl 


High Low 

DeutsdwBonk 9125 89.60 
OeutTetakHit 37.95 37 JO 
DrasdnerBonk 57 JO 5730 
Fresedia 370 349 

FiwerdusMed 161.90 1400 
Fried. Knipp 336 314 


ABN-AMR0 
Aegon 
Ahold 
AkzoNofad 
Bom CO. 

Bote Wesson 

CSMcn 

DorttsdiePei 

DSM 

Efcevta 

Forts Amev 

Getronto 

G-Btkom 

Hogarow 

Hemeken 

HttJDOKnSOIQ 

Hunt Douglas 

ING Group 

KLM 

KNP BT 

KPN 

SW* 

OceGrinten 

Philips Bee 

Potman 

RonifaWdHdB 

Roteco 

Rodnmcn 

icoraico 

Rorento 

Royal Dotdi 
Unfleveram 
Vendor Inti 

VNU 

Waters Klara 


127 JO 125.40 
131.90 129.90 

131.90 129.10 
267.60 26180. 

81.90 80.10 

35.10 34-50 

105-80 103-50 
35450 349 

186.90 1BX30 

29.90 29 
7220 70110 
5920 56J0 
61 JO «L30 

161 157 JO 
334 372.20 
91.40 8980 
157 JO 152.20 
72 70.10 
‘56 5430 
40 3980 

70.10 68 

46 <& 

27840 273 

234J0 230 

8140 8080 
« 92.10 
15230 148 

1S8J0 15830 
S980 59 

16220 141.90 
10660 106.10 
33180 379 JO 
341 JO 357.90 
as 8260 

39 JO 3860 
22BJ0 224 


126J0 12470 
131 129 JO 
129 JO 128.10 
266 36270 
80-50 60.40 
3480 3440 
10490 10190 
352-50 347 

19460 18160 
29-70 2880 
71 JO 68.90 
97-20 5450 
6080 59.90 

161 15660 
334 321 JO 

9060 89.90 
156 153 

71 JO 69.20 
5560 55.30 
39 JO 3960 
68.10 69J0 
45-50 4450 
Z7X50 273J0 
23260 228.10 
8X40 MlTD 
92J0 9490 

150.90 14450 
15830 157 JO 

59-50 5850 

162 162.10 
108J0 107.90 
333.10 32760 
341 JO 35470 

8420 82.50 
3860 3860 

226.90 22X10 


Galw 
HekfeBtgZnrt 
Henkel pw 
HEW 
Hodfflef 
HoednJ 
KmsJmtt 
Unde 
Lufthansa 
MAN 

Mannesman*! 


115J0 112-50 
144 1« 

89 88.10 
500 495 

7Z50 7125 
66J5 65.45 
593 S7S 
1148 1140 

23.95 2X70 
•173-50 465 

652 639 


MWoUgeseflscfntt36J0 35.95 
Meta 166 16450 

Munch Ruedt R 4220 4155 

PiwisNW 454 447 

RtreVrelekta 1262 1250 

RWE 7330 7260 

SAP ptd 279 JO 273-50 

Schering 17190 171 

SGL Carbon 234 231 


Stamens 
Springer (Asefi 
Suedt u ck er 
Tlryssen 

vaba 

VEW 

vSwuWft 


87.15 8650 
IMS 1230 
855 834 

380 375 

98.70 97.90 
499 498 

773 769 

896 890J0 


91.25 
37 JO 
57 JO 
370 
161.90 
331 
114 
143 
BUD 
495 
7225 
65.95 
593 
1145 
2365 
473-50 
652 
3630 
165JD 
4220 
4S3J0 
1262 
7105 
279 
17? JO 
23) JO 
86J0 
1230 

ass 

375.50 

9868 

499 

770 

89X5Q 


Prav. 

8895 

3815 

5638 

369 

16410 


117 
143JS 
87 JO 
495 
7160 
6580 
577 
1)36 
Trim 
45550 
635 
3595 
164 
4148 
451 
1250 
73J5 
27850 
17190 
227 JO 

esjs 

1250 

829 

417J0 

97.15 

499 

765 

B84 


High Low dose Prey. 


SA Breweries 137-25 138.50 138.75 138 

Somonenr 55-50 55 55 55 

Stool 50-25 49.75 49.75 5025 

SBtC 165-25 18450 19450 18025 

TlgwOafe 77-25 76.75 77.25 7675 


Kuala Lumpur cwpgte iwa 

Previous: 121468 

AMMBHdgs 
Genflw 
Mal Bonking 
MaUnMSNpF 
PetanasGas 
Prolan 
PubOcBft 
Renans 
Resorts Worid 
Rothmans PM 
Sme Derby 
Telekom Met 
Ti 
Utt 
YTL 


High Law dose Prav. 


High Low Close Pm. 


High Low Close Prev. 


The Trib Index 


Pnoas as at 300 PM Ngw yiortr rime. 


Venoome Lx UB 


Whitbread 

Wiliams hubs 
W obetey 
WPP Group 
Zeneca 


5-10 

SJn 

5JM 

i04 





ElectroluvB 

Z72 

7J6 

X37 

264 

7J6 

132 

2JD 

7J2 

X36 

2J5 

7J7 

135 

Paris 


CAC4fe363US 
Prevteus. 2579 J8 

Ericsson B 
Henries B 

5 

<B8 

4.97 

4J5 

Accor 

814 

80S 

813 802 


29/ 

290 

295 

2J2 

AGF 

211 M 

206 

210 205.40 

Wo DoB 

17 JO 

17J3 

IA4B 

17J8 

Ak Liquid e 
AkoMAMh 

8*0 

872 

090 866 






677 

668 

676 671 

PtarTTVUpjahn 


23 

2X40 

23 

2290 

17 JO 

1680 

1&B0 

17J0 

28.75 

28J5 

2150 

2890 

6.10 

195 

6 

645 

9.10 

9J5 

9J5 

9.10 

liW 

1160 

1190 

15J0 

5.05 

5 

5.05 

5 

<30 

<24 

122 

<30 

M JO 

11.10 

11J0 

11.10 

2X40 

2X10 

2X10 

2X30 

9110 

9 

9 

9 

19 JO 

19 

19 

1920 

12J0 

12 

1220 

12 

22 

2190 

21.70 

21,60 

1X10 

1X90 

13 

1X90 


Helsinki 


Bangkok 

Adv Info Sue 

Bangkok Bk F 

I, KninqThaf Bk 
V PTTE**ir 
T Stan Cement F 
Slam Cam BJcF 
Tetecamasta 
Thai Airways 
Thol Farm Bk F 
WdComra 


SET tadee 71861 
Previous: 71X85 


234 

224 

224 

230 

262 

252 

252 

2<8 

36J0 

36 

3625 

36 

342 

332 

332 

342 

676 

668 

672 

668 

154 

147 

153 

148 

<150 

44 

44 

«50 

4525 

44 

4475 

4675 

174 

168 

172 

174 

169 

167 

1» 

169 


EnsaA 

HuhtamakJI 

Kemta 

toko 

Merita A 

Metro B 

Metso-SeriaB 

Neste 

Nokia A 

Ottan-YMynue 

Outokumpu A 

UPMKymmene 

Vaknet 


4X30 

245 

S3 

72 

17J0 

295 

36J0 

131 

306 

188J0 

93 

in 

89 


42 

242 

5X50 

17 

289.10 

3650 

1ZJJ0 

300190 

183 
89 
108 
87 JO 


42 42 

244 742 

5260 5X50 
72 71 


17.10 

293 

3650 

131 

301 

187 


T7 

295 

37 

12B 

300 

180 


London 

Abbey Natl 

Allied Domecq 

AngSan Water 

Argos 

Asda Group 

Assoc 0r Foods 

BAA 

Bwdoys 

Bass 

BAT ind 

Bank Scotland 

BlireOfOe 

BOC Group 

Boats 

BPB Ind 

BrltAmasp 

Bril Airways 

BG 

Brit Land 
Brfl fleflm 


FT-SE 108:427070 
Prevleas: 421460 


92 B8J0 
109 JO 107.80 
87 JO 8770 


Bill! 

Brit Telecom 
BTR 

Burmah Costal 10.10 


7J7 
448 
6J6 
650 
1.10 
550 
565 
1047 
861 
648 
X26 
408 
9.75 
668 
3J0 
1X37 
642 
170 
542 
7.10 
6 46 
162 
476 
267 


Bombay 

BaMAota 
Hind nst Lever 
Hindus! Pettra 
Ind Dev Bk 
ITC 

MaironogarTei 
Reflancetnd 
State Bktmfla 
Stud Authority 
Into Eng Loco 


1024 
1020 
39975 
9X25 
431 JO 
27775 
29450 
321 JO 
2175 
39450 


Seasea 30 tedec 376578 
previses: 373078 

1010 1013100075 

1005100X50 10» 

390 390 

9175 91-50 89-75 
42X75 42450 42275 
272 27550 270 

288 291.75 28775 
31X50 318 31X50 

384J0 39X50 383 


Bk East Asia 
Cattwy Padflc 


Brussels 

Almanfl 

Banco Ind 

BBL 

CBR 

Cahuyl 

Delhafze Uan 

Elecrabol 

Etedruflno 

Forts AG 

Gevoert 

GBL 

■ GenBanttue 
> Kredtabattk. 

PrmtrHn 

Rome Beige 

SocGenBeig 

SoNay 

Troctebsl 

UCB 


13275 

5620 

7820 

3300 

14100 

1940 

7900 

3200 

6000 

2520 

4850 

13600 

12275 

11950 

4890 

8580 

2895 

20950 

14775 

90200 


BEL-20 index: 21B6.18 

Previous: 208483 

12800 12800 12800 
5500 5520 5490 

7750 7750 77i0 

■m s 3290 3230 
13925 13950 13925 
1915 1915 1900 

1900 7770 

3200 3125 

5990 5870 

2520 2450 
„„ 4795 4780 

13400 13475 J3300 
12000 12100 11875 
11850 11875 11|» 
*65 AB80 4865 
guiao 8520 8480 

2845 J895 2810 
20725 20725 20700 
14700 14700 14650 
89250 89750 893S0 


7800 

3140 

5950 

2470 

4785 


Hong Kong 

865 
2630 
1170 
71 
2165 
3450 
3X60 
3550 
10-20 
1445 
83 

1470 
2765 
13-95 
450 
17X50 
5650 
2X40 
1975 
17 
42J0 
118 
6 

8575 
530 
150 
665 
SI 25 
3130 
17 JO 


CXI 
China LtaM 
cmcPvaic 
Dot Hem Bk 
FtatPadtlc 
Hang Lung Dev 
Hang Seng Bk 
Henderson Inv 
Henderson Ld 
HK Chino Gas 
HK Electric 
HKTetaasmm 
HogBWMHdgs 
HSBCHdgs 
HuWtfeonWh 
HysmiOev ' 
jOTnaraElHrig 

Orientai Press 
PeorfOrtsiitai 
SHK Props 
ShunTokHdgs 
sinoLandCo. 
Sth China Post 
SvriretacA 
Wharf Hdgs 
Wheekxk 


895 

835 

840 

2690 

7640 


1X05 

11,80 

11.95 

7290 

70 

/0J5 

72 

2195 

2170 

3490 

34.10 

3470 

38.90 

3850 

3880 

3690 

VM 

36 

1090 

iais 

10JS 


1440 

1460 

84 75 

8X25 

8175 

7.90 

775 

/75 

6850 

66J0 

6650 

1479 

1455 

1460 

77 IS 

2790 

2790 

14.10 

1X75 

1190 

<23 

410 

<15 


77V 

19190 

5BJ5 

5675 

5775 

2420 

2270 

2375 

20 

1995 

1995 

17 

16.95 

1695 


43 

<120 

3-20 

113 

X18 

<20 

6 

6 

87 J5 

RUW 

B6 

5J5 

170 

5J0 

BMI 

<35 

895 

690 

690 

<90 

62 

61 

61 JO 

32 

31 JO 

37 

t; n 

18 

1610 


156 

490 

550 

5.05 

673 

660 

3J5 

X19 


Burton Gp 
Cable Wheiess 
CodburySchw 
CorttonComm 
Com ml Union 
Campos Gp 
Courtoutcls 
Dtans 
Eledrocomoanents 09 
EMI Group 1164 

Energy Group <7S 

Enterprise 08 644 

Fom urionhri 159 

G^rri Accident M2 

GEC 173 

GKN 10.17 

GkuD Wefcoroe taB2 
Granada Gp 9 JO 

Grand Met 
GRE 

GteemBGp 
Guinness 
GUS 


Copenhagen 


BGBank 

CarisbergB 

Crxkm Fors 

Darrisco 

DenDanskeBk 

lysSwndtugB 

D/51912 B 

FUlmJB 

Nob LuflfKHne 

HvoNonSskB 

SoptsaSnrB 

TeBDanmkB 

TrygBdHai 

Unidorvnorit A 


303 

387 

B8S 

391 

565 

276000 

196196 

845 

665 

675 

830 

329 

360 

34170 


Stuck indec 531 37 

PlMtoata 53X57 

g g 3 

M3 »7 mn 

Ss 565 542 

276000 276000 »7M0 
193000 196196 193000 
825 845 BO 

6S8 660 67b 

665 669J7 673 

815 EM 810 
323 329 324 

354 357 355 

335 335 


Jakarta 

Asm intt 

Bkiorl imtan 

BkNegam 

Guoang Gorm 

Inducement 

Intfofaod 

Indasat 

SompoernaHM 
Semen Gre*, 
Tetetomimflcasl 


““"ftSSSSS 

in ss i m 

1375 1350 >375 1325 

10500 10200 1O5D0 10100 

•W5 M5D 3*5 
5375 5275 5350 5300 

6550 6400 6525 6600 

11300 10800 U175 10475 
6250 6150 6225 6125 

-x.cn 3575 2575 3550 


Frankfurt 

AMBB 
AtMbs 
AtatzHda 
ASunn 
SkBeifti 
BASF 

Bk 


.J* 

-fi 


Boy.V 
Borer 
Beiendorf 
Bewog 
BMW 

CKAGCrfottio 

Cptnaiezaonk 

OobnlKBen 


1170 

185 

3288 

1330 

32.70 

63J0 

5SJD 

6480 

6&4S 

88J0 

466 

1224 

154 

4675 

12890 

TDD 


Pt m i ous : 3321-54 

1160 1IM 
i|4 ie 
3283 3293 
■juu 1323 «« 

3M) 32-70 KJO 
63 63 6245 

SU0 55 79 52J5 
Sjn Sffl 6130 

SS 

87 88 » 

463 46550 465 

1207 12M Tlffl 
151 JO 1S2JD 154 

45-90 46J0 4M5 
1K.15 I2&« 12X40 
697 699 694 


1170 

18X20 

3270 

1305 


Johannesburg 

Ang/oAm-Cotp 27175 271 

AngtoAm Gold 
AMtaAraind 
avmin 
Berime 
CG.5m#h 
Defl£« 

Driewnln 
FstNoUBk 
Gericor 

gfsa 

ImptaWHjV 

ingweOool 

tscer 

junreOMindl 
LUjertrHto 
LttertyLHe 
UbUfeStrai 
MWorai 

Nompok 

Nedatf 
RetnhwtrtGp 
Ricnemont 
gust Platinum 


315 314 

181 179 

IB 17J0 
49 JO 49 JO 
2465 2460 
161 JO 159 JO 
41 JO 41 
2770 27 JO 
2070 » 

111 no 
5675 56 

28 3790 

3J0 X45 

5775 56^ 

37875 327 

125-50 12475 
15A0 1SJ5 
106 10425 
1975 19J5 
S«25 8X75 
4570 4450 
5875 57JO 
71 JO 7175 


2770 27.45 
306 30450 
271 JO 27175 
314 315^ 
180 179 

18 17 JO 
49 JO 4970 
26J0 2650 
15? JO 16075 
4U5 41J5 
27 JO 27 JO 
20.10 2X10 
110 112 
56 5650 
2790 2X10 
3J0 X45 

5775 5450 
■WW75 326 

12450 12575 
1575 1525 
105 

1975 1975 
8425 8375 
4570 4190 
58 58.75 
71 JO 71 JO 


4BS 
179 
575 
SJ6 
6J1 

SfErmitt .3 

ia 7J3 

rmpl Tobacco <70 

lOnaBsher 497 

LorBiake 278 

7J9 
151 
193 
499 
2 

466 
472 
1X90 
2.1? 
485 
695 
404 
XU 
640 
775 

PtMngtMt 179 

PowerGen 696 

Premier Famed 4J7 
PrudsrtW 
RontiuckPP 
Rank Group 
RerUICakn 
Redtand 
Reed inti 
RentaU WiBtai 
Reuters Hdgs 
Ream 
RMC Group 
Rots Royes 
Rap* BkScM 
RTi ri 


Laid Sec 
Lssmo 
Legal Gert Grp 
LtoyriJ TSBGp 
Lucas' Vartty 
Matte Sperm 
ME PC 

Mercury Asset 
National Grid 
Nad Power 
NatWest 
Nad 
Orange 
P60 
Pennon 


iU?Sw nAfl 


Sotnsbury 
Sdnoders 
Scot Newasrie 
5eot Power 
Securicw . 
Severn Trent 
SheATronspR 
Siebe 

SmIDi Nephew 

SmlttlKBW 

Smltnshid 

5BtanE(ec 

Staqwoegi 

Stand Charier 

Tde&Lyte 

Tesco 

Themes Water 
31 Group 
Tl Group 
Tomkins 
Unttoyer 
UMAssuronee 
UtdNevB 
utdutfflues 


5J9 

471 
437 
879 
160 

11.15 

472 
612 
377 
9.74 
2J6 
625 
9J7 
451 
161 
3.39 

1420 

670 

137 

X93 

693 

1095 

ioe 

178 

9 

611 

7.95 

672 

8J3 

478 

140 

668 

610 

570 

275 

1615 

5 

7.59 

615 


7.13 
4J0 
427 
676 
1.08 

572 
604 
9.90 
7.98 
5J5 
114 

4 

9J7 

458 

130 
1X11 

630 

IJ8 

630 

687 

429 

1J5 

448 

253 

10 

193 

490 

624 

496 

673 

4SS 

161 

612 

415 

11 

467 

634 

1J7 

7J2 

168 

9.93 

1097 

9.17 

474 
299 
610 
4VS 
641 

573 
1424 
469 
396 
487 
270 
7J8 
X43 
3-83 
448 
1.9S 
404 
465 
1295 

2-09 

473 

675 

692 

294 

617 

775 

1.14 
582 

475 
5J9 

444 

416 

8.18 
145 

1090 

415 

603 

131 
990 
229 
6U 
972 
427 
157 
125 

1690 

690 

370 

299 

690 

10-56 

ION 

174 

680 

BJS 

790 

645 

8-46 

433 

334 

653 

5.03 

55S 

270 

1579 

498 

7J8 


7J3 7.13 

443 <40 

670 636 

645 675 

1-09 1.08 

658 572 

596 605 

1X15 970 
607 B 

578 605 

120 1)4 

406 4 

999 9J8 

660 664 

3J0 140 

1373 1X10 
638 671 

158 LS9 
6« 637 

69B 7JH 
636 63B 

190 192 

<53 450 

290 253 

10.05 1093 
1J5 194 

485 493 

640 633 

5,05 595 

660 671 

658 6S 
393 3J2 

618 610 

417 418 

11.15 1196 
470 <70 

638 638 

1J8 1J7 

8.08 791 

398 170 

10-10 9.94 

1078 1057 
9J8 972 

478 478 

177 271 

612 609 

603 07 

641 642 

5J8 632 

I <62 1423 
690 699 

418 416 

695 692 

274 270 

796 7-S8 

2J3 2.47 

3J5 185 

481 452 

1.97 ITS 
<65 <59 

470 468 

1274 1299 
110 2JJ? 
<73 <80 

685 675 

695 696 

210 204 

635 623 

775 7 JO 
170 177 

683 5J3 

477 483 

656 640 

<65 <44 

421 417 

873 871 

ISO 355 

1146 1088 
418 420 

607 603 

3J2 377 

955 970 

230 233 

618 616 
992 997 

490 427 

380 XS9 
337 375 

1605 1610 

642 695 

125 133 

2.90 289 

682 680 
1066 1057 
1072 1077 

176 174 

9 892 

610 847 

752 7.92 

■ US 650 

850 052 

424 434 

378 134 

655 657 

543 545 

556 655 

2.74 272 

1610 1687 
5 492 

7J7 795 

612 645 


Madrid 


Bated iadera 47438 


Pmtoas: 46696 

Acerinox 


19850 

19920 

19520 

ACESA 

16<0 

1610 

1615 

1600 

Agws Barceion 

5300 

5310 

4250 

5200 

Argetuoria 

BBV 

6150 

8530 

6070 

8440 

6120 

8450 

6060 

BAD 

Banesta 

1135 

1120 

1125 

1115 

Bonkinter 

19300 

19(00 

19300 

19010 

BcoCemraHbfl 

3805 

3775 

3804 

3/25 

Bar Exterior 

2800 

77KI 

2/80 

2770 

Bar Papular 

25800 

25200 

25800 

2S3U0 

BcoSoafirndw 

9730 

9600 

9/20 

95 n 

CEPSA 

4250 

4130 

4250 

4125 

CanEnertfe 

2530 

2500 

7430 

2530 

Corp Mcpfre 

6990 

6890 

6960 

6850 

Endesa 

9360 

9130 

V360 

9080 

FECSA 

1210 

1190 

1210 

1180 

GasNatunt 

31450 

31020 

31150 

30990 

Iberdraki 

1550 

1516 

1449 

1510 

Pryca 

7695 

2630 

26/5 

26UQ 

Repsd 

5920 

5830 

4900 

5800 


1305 

1284 

1294 

1295 


6780 

6680 

67RO 

6600 

Tetefartcn 

3455 

3394 

3450 

33B0 

Urton Fenasn 

1170 

1140 

1170 

1150 

VotajeCemera 

17B0 

1740 

1750 

1740 

Manila 


PSEtodec32M.12 


Previous: 222X46 

AyoJoB 

28 

27 JO 

27 JO 

27 JO 

Arotatond 

BkPtnlpfsl 

3850 

30 

30 

30-50 

183 

?Bt 

181 

183 

CAP Homes 

1290 

12 

12 

12-50 

Man lo Elec A 

122 

121 

123 

121 

Meta Bank 

675 

670 

675 

6/5 

Petron 

1075 

1090 

1050 

1074 

POBani 

MS 

3*1 

380 

390 

PM Long Dist 

1595 

1584 

1490 

15»4 

SanMiguciB 

91 JO 

96» 

9050 

91241 

5M PrtiteHdg 

770 

790 

770 

770 

Mexico 


Bated bdec 3851 J4 


Provisos: 382779 

Alfa A 

4110 

4490 

45.10 

44J0 

Banned B 

1836 

1610 

I8J6 

1BJ0 

CwwarCPO 

3050 

30.00 

3040 

3QJU 


11.16 

114H 

11.16 

11.10 

EmgMaderna 

4610 

39 JO 

39 JO 

4010 

GpoCareoAl 

4790 

«90 

4/90 

4/70 

Gpo F Bokpot 

199 

18/ 

198 

198 

Got Fin Irtbursa 
Kmfa Oark Mes 

2BJ0 

2/70 

2620 

2/90 

3320 

3290 

3X00 16X40 


10090 

10090 10090 

100-50 

1570 

TeiMexL 

1594 

1572 

15.78 

Milan 

MIBTri— ntter 1182198 


Pro*ws: 11 64790 

AileonzD ASSIC 

11500 

11295 

11340 

11315 

Sea Comm rial 

3330 

3230 

3320 

3220 

Bcs FWeuiLiH 

4150 

4055 

415) 

4054 


1135 

1114 

1126 

1118 


21000 

*88 

20840 

21100 

credhottaaono 

2350 

2350 

2336 

EdHcm 

B345 

3550 

8/40 

86/0 

ENI 

BCS 

8399 

8435 

8305 

FW 

5285 

5185 

5265 

4215 


29550 

29OS0 

79400 

39200 

IMI 

13980 

13B00 

13980 

13964 

INA 

2230 

2305 

2216 

2214 


5520 

4375 

4400 

4330 


6650 

6495 

6445 

6570 


10410 

10144 

10400 

10135 

MootwSson 

1158 

1140 

1146 

1143 

OtwtB 

612 

604 

608 

609 


2390 


7340 

3340 


3705 

3615 

3675 

3635 

RAS 

146B0 

14415 

14600 

14470 

RoioBancn 

14640 

14200 

14590 

14290 

SPoolo Torino 

11360 

11730 

11275 

"i£ 

Stri 

7545 

7740 

/495 


4275 

4134 

4270 

4110 

TIM 

4790 

4640 

4/BO 

4625 

Montreal 

fadugWS tadte 289591 
PRVtaaB 290635 

Bee Mob Core 

44 

4X85 

4295 

44 

Cdn The A 

25.45 

7495 

2695 

75J5 

CdriUtflA 

31 Vk 

3194 

31X9 

31-40 

CTRrriSvc 

32W 

31U 

32M 

37J6 

GazMeira 

17.15 

KBS 

I/.14 

1690 

Gt-West Ufeco 

22 

2190 

21.95 

22U 


36 

3SJ0 

3590 

36.10 


2595 

2595 

2646 

3490 

LuDkiwCos 

17.10 

17 

I/.10 

17 

Nad BkCBnada 

105 

15.90 

16 

1630 


2 » 

KH 

2ff* 

ThVi 

PwerRrrt 

27-35 

27 

2716 

37 

QuabecarB 

7<95 

24M 

2495 

2490 

RosereCenwB 

N.T, 

N.T. 

N.T. 

895 

RoynBkCda 

5995 

4890 

49U 

5846 


Aw-UAP 
Banco Ire 
Bre 
BMP 

Canal Plus 

Cnmriour 

Casino 

CCF 

QrtMaro 

ChtteSon Dtar 

CLF-Oeteo Fran 

Credit Agricole 

Danone 

EJI-AqJtoloe 

EridankiBS 

Euradtenev 

EuraJureirf 

Gen.Eau* 


369 36390 
761 7« 

889 158 

KLAO 238.10 


368 36390 
761 730 

BU 877 
3<A 341.10 


I metal 

Lafarge 

Legnmd 

LtSeal 

LVMH 

Lyon. Eaux 

MidwflnB 

Partes A 

Pernod Ricart 

Peugeot O 

PJnouB-Prtnt 

PromoOTs 

Renaull 

RecH 

Rh-PBunncA 
So rwfl 

Schnetasr 

SEB 

SGS Thomson 
5taG«iwnte 


StGoboln 

Suez 

STTSItette 
Thomson C 


Total B 
Ustnor 
Valeo 


CSF 


1135 1101 1130 1125 

3498 3411 3450 339B 
262 255 26090 25990 

261 257.70 240 25750 

685 652 669 673 

B32 814 829 807 

590 571 589 570 

1285 12B5 1285128850 
898 Ml 897 877 

567 550 566 548 

920 680 903 876 

10-15 1045 10.15 10.10 
6JS 665 670 640 

749 741 74B 740 

422 41690 420.70 4)7 

890 852 882 872 

385 37110 37<20 379.90 

1019 987 1005 1000 

19SJ 1921 1950 1914 

1357 1326 1350 1315 

586 568 572 574 

340 33420 337 335.90 

399 389 #7 368.70 

310 307.10 309.90 3M 
646 670 641 639 

2249 2216 2247 2^185 
1873 1851 1864 1842 

14250 139 JO 141J0 143 

1768 1735 1768 1758 
189 18590 18890 18590 
548 529 542 523 

30350 29110 »190 29490 

102 0 1002 1014 1009 

39790 39150 392 388.90 

660 60 660 642 

2845 2813 2840 Ml4 

848 823 647 832 

28470 277 JO 28? 277 JO 
»4 578 585 589 

192.90 189 JO 192-JO 19050 
478 462 478 46250 

9180 B&J0 9055 B9J5 
379 366 372 36410 


Jcrtdvft 
Scaniafl 
SCAB 

S-E BonkenA 
SkandioFms 
ShanskaB 
5KFB 

SpofbankenA 
SbdshVPotekA 
Store A 
5v Handtes A 
VotvoB 


464 

261 

1018 

513 

34650 

230 

256 

293 

194 

136 

167 

B5 

234 

336 

193 

142 

190 

102 

230 

19850 


459 46250 
25590 26050 
1005 1017 

507 513 

343 348J0 
22X50 22450 
252 256 

287 JO 292.50 
18750 194 

184 106 

163 167 

8X50 84 

230 23350 
332 336 

188.50 193 

13950 14050 
190 190 

10050 102 

225 22950 
19150 197 


456 

25450 

1000 

508 

342 

22650 

252 

286 

188 

184 

16150 

8350 

22850 

330 

187 

14150 

190 
100 
225 

191 


Sao Paulo Bwe y tadac ^jj 


BrodescoPtd 

BratnoPH 

CemtePW 

CESPPfd 

cope) 

Etefrodrw 

iknibOTcePfd 

Light 5ervWw 

LUrtpm 

StabroPW 

PtiuOstaLux 

5id Nndonoi 

Souza Croz 

TefctxusPW 

Tefemig 

Tefejf 

TetespPM 

UnDtanco 

UsfetoasPM 

CVRD PM 


X99 

707.00 

4610 

5X00 

16-30 

462-00 

5B6JK 

<5090 

33250 

23400 

15X00 


850 

11550 

1S100 

15X10 

28590 

4090 

124 

25.19 


890 
70426 
45 JO 
5<40 
1550 
45790 
58090 
43590 
33090 
21890 
1*590 
3890 
8J0 
11390 
15090 
15190 
27991 
3950 
155 
2490 


8.90 8.75 

70790 70090 
<590 4590 
5590 5420 
1690 1550 
45990 45790 
58690 58090 
44790 43590 
33290 33290 
22190 21790 
149.71 14400 
3890 38.40 
890 8.90 

I149C 11170 
15250 15190 
15390 15290 
28290 27990 
4000 <0.00 
122 1X4 

2590 2485 


Sydney 


ABOldtaarieE 348X48 
PrevtaUB 2482.18 

Amcor 

8J2 

873 

878 

875 

ANZ BUrtg 

<42 

<15 

<18 

<28 

BHP 

1774 

1/ 

17 

I7JJ8 

Band 

378 

16/ 

X/4 

394 

Brambles Ind. 

2170 

30.75 

2090 

30.84 

CBA 

1X99 

1X68 

IX/0 

1X78 

CC AraatO 

1X10 

1)95 

1195 

1174 

Cries Myer 

5.93 

593 

49/ 

594 

Como Ico 

<72 

694 

669 

<60 

CRA 

IMG 

1877 

IBJ0 

1874 

CSR 

475 

<69 

473 

49/ 

pnstereBrevr 

296 

291 

295 

791 

Goodman Fid 

193 

I90 

193 

193 

ICI AiKTrafio 

11.74 

1199 

1193 

1196 

Land Lease 

2X30 

21.90 

2174 

2391 

M1M Hdm 

Nat Aust Bank 

175 

1.71 

17? 

173 

KID 

1494 

1494 

14.97 

Hal Mutual Hdg 

2 

193 

2 

1.93 

Hews Corp 

<20 

60/ 

«M 

<16 

PodRc Dunlop 

136 

131 

134 

X30 

PtonBerlnft 

<30 

<10 

<20 

4.13 

Pub Braadasl 

695 

<75 

695 

<74 

St George Bank 

791 

7J5 

7.55 

7JD 

WMC 

<19 

<09 

<10 

<19 

weshxcBUng 

WooasidePrf 

/91 

977 

792 

9.15 

/J6 

971 

779 

9.17 

woohroiihs 

X40 

X36 

3J6 

37/ 

Taipei 

Slock Mattel tadne 784X42 
PfWteas: 794698 

Cathay Life Ins 

176 

169 

169 

174 

Chang HwaBk 
Ci 1 lot Tung Bk 

179 

7<50 

I/I 

74 

171 

74 

177 

76 


1 14 

110 

IIOlSO 

112 

CWnoSteeS 

IT 

3<n 

2630 

7650 

FWBaik 

180 

172 

173 

179 

Formosa Plasflc 

72 

n 

ALSO 

n,« 

Hun Nan Bk 

136JD 

131 

131 

136 

Inll Comm Bk 

80 

77 

//JO 

79 

NorrYO PtosUcs 

66 

6X40 

63J0 

6540 

Shin Kong Lite 
Taiwan Semi 

106 

0X50 

02J0 

0490 

65 

6X50 

6390 

63 

Tatung 

litd Micro Etec 

55 

5040 

5X50 

4970 

54 

5090 

4490 

4870 

Utd Worid Qrin 

71 

69 

6990 

7050 


Jan. 1. 1992 - too. 

L»*»i 

Chwige 

% change 

year to dare 
% change 

World index 

Regional Mens 

150.55 

+1.21 

+0.81 

+14.17 

Asm/Pactfic 

110.96 

+001 

+0.01 

-17.35 

Europe 

158.53 

+2-27 

+1.45 

+13.90 

N. America 

174.54 

+0.99 

+0.57 

+36.06 

S. America 
Industrial Indexes 

139.51 

+0.82 

+0.59 

+56.68 

Capital goods 

172.82 

+1.63 

+0.95 

+30.06 

Consumer goods 

16922 

+1.98 

+1.18 

+22.56 

Energy 

180.12 

+2.17 

+1 22 

+32.81 

Finance 

112.82 

+0-29 

+0.26 

-11.48 

Miscellaneous 

155.57 

+0.89 

+0.58 

+14.55 

Raw Materials 

180.91 

+0.94 

+0.52 

+37.58 

Service 

141.93 

+0.93 

+O.B6 

+1837 

Utilities 

133.39 

+0.74 

+O.50 

+4.92 


77» International Hernia Tribune Wortd Stock tnOox G tracks the US. dot or values at 
260 Imemationaty mvemabto stocks fain 25 countries. For morn ntormotian. a two 
aradabfe by writing to 77w Trib Index. 181 Avenue Charles do Gauhe. 


Tokyo 


NUBi 225: 1843991 
Prevtan: I8B4X82 


Seoul 

Oocom 

DoeOToHeovy 

KereaBPwr 
Karen Etch Bk 
Korea Mob Trf 
LG Semlcon 
PohongironSt 
Samsung Otetay 
Samsung Etec 
Shi nhon Bank 


93900 

3870 

17700 

16000 

25700 

4840 

470000 

27900 

46500 

40500 

61000 

IttMO 


|C 63890 
Prerfw£17J6 

87500 93900 B7000 
3620 3870 3600 

16400 17500 16400 
15100 16000 15400 
25400 25700 25500 
<510 <600 <700 

445000 <70000 <50000 
26000 27900 25900 
<4000 46000 44600 
37700 400® 37500 
57200 60500 56700 
9750 10000 9750 


Oslo 

AfcerA 
B 


OBlCtadee5MJ« 
PlMHK 58299 


DennorskeBk 

EBJn 

HaHundA 

Kvnemer Aso 

Norik Hydro 

NwskeStogA 

NycomedA 

OrUoAsaA 

Pettm GeoSvc 

SogaPetesA 

senasw 

T ni B o c eon Oft 

SterobrondAso 


179 

145 

2420 

3B90 

125 

47 

358 

336 

219 

10SJ0 

530 

2B2 

115 

132 

394 

45.90 


177 178 

142 145 

24 2420 

2X20 aso 

122 124 

4690 47 

254 354 

329 JO 330 

216 217 

1M 10150 
527 527 

281 2B2 

nxio ns 

1J1 131 JO 

388 388 

4460 4590 


177 

143 

2170 

27.90 

119J0 

4690 

350 

333 

213 

102 

526 

282 

111 

132 

391 

4420 


Singapore Mtimes mss 

rlWVtUUOi ZWMO 


Ada Poc Brow 

Central Pac 

OtyDevts 

CvdeConloae 

Oaky Foot uf 

DBS foreign 

DBS Land 

Fraser* NMv* 

HKLand* 

JordMrdtian' 

Jart Strategic* 

KeppeJ 

KeppeiBonk 

Rappel Fete 

KmetLond 

oese foreign 

OS Union WF 

PortaMiyHdgs 

Semboeane 

Sing Air torelea 

Sing Land 

StagPtwF 

angTecfifnd 

Sinn Telecomm 

TdtleeBonk 

UtdlndotiiW 

utdOSeaBkF 

WbgTrtHdgi 

•thUSMos. 


7.15 

<95 

7.15 

<85 

976 

945 

94S 

990 

1X60 

1X20 

1X30 

1X10 

1SJ0 

15 

15 

ik to 

<80 

077 

078 

080 

1790 

1790 

1790 

17.90 

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PAGE 3 







Hong Kong Site 
Gets Record Price 

Bloomberg News 

HONG KONG ■ Sino Land Co. bought a waterfront 
site on Hong Kong bland on Tuesday for 1 1.82 billion 
Hong Kong dollars ($ 1 .53 billion), a record price for land 
sold at a government auction. 

The winning bid exceeded estimates by almost 50 
percent, bolstering expectations that rising property 
pnces will stoke corporate profits. 

Bidding lasted more than two hours for the 275.470- 
square-foor (25 3 °0- square -meter) piece of reclaimed 
land m Chat Wan, on the eastern tip of Hong Kong Island 
Analysts said n was the longest auction ever. 

"This is a strong vote of confidence in the market." 
said Michael Green, director of Asia-Pacific equity re- 
search at Salomon Brothers. 

The bids suggest developers are betting tbai prices will 
nse at least 15 percent a year until 2003. when con- 
struction at the site is due for completion, said Adam 
Osborn, property analyst at BZW Asia Ltd. 

Land auctions are closely watched in Hong Kong 
because about seven of every 10 major companies are 
involved in real -estate development. TTie government has 
sold land at auction since the 1940s. 

The Chat Wan site is considered prime property be- 
cause it has sea views on three sides, analysts said. Its 
main drawbacks are its location adjacent to a cemetery, 
which many local investors consider to be bad luck, and 
its distance from the nearest subway stop — 10 minutes 
by bus. 

The previous price record for land sold at auction was 
set in March 1996, when a 15,073-square-fooi plot in 
Hung Horn went for 4.72 billion dollars, according to 
Gerald Chan, technical officer at the Land Department's 
headquarters. Sun Hung Kai Properties Co. bought that 
plot. 

Hong Kong sold a second site, in Kowloon, on Tuesday 
to China Overseas Land Development Ltd., the Hong 
Kong arm of China’s biggest construction company, fen: I 
1.4 billion dollars. The winning bid was at the high end of | 
analysts’ expectations. , 


- «. n>m*v UARfH 9St. 1997 

INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 

ASIA/PACIFIC 

Tokyo Prosecutors Raid Nomura 


CartptMhy tfur Stuff F rim Dof^Mihn 

TOKYO — Prosecutors raided the 
headquarters of Nomura Securities Co. 
on T uesday as parr of their investigation 
of Nomura for fiinneling profits from 
illegal trades to a company with sus- 
pected criminal connections. 

Regulators from the Securities and 
Exchange Surveillance Commission 
also took part in the raid, a Nomura 
spokesman said. NHK Television re- 
ported that prosecutors also searched the 
home of Hideo Sakamaki. Nomura's 
former president. 

A former gangster’s home was raided 
at the same time, as was the home of 
Shimpei Matsu ki. who oversaw equity 
trading at the company. 

The raids constituted the latest blow to 
die image of the world’s largest broker- 
age, whose shares have fallen 12 percent 
since March 6 when the company dis- 
closed the illegal trades. Mr. Sakamaki 
resigned March 14 as a result of the 
disclosure. 


Nomura's shares closed Tuesday at 
1 .440 yen, ($1 1 .74). down 20. 

Nomura said in a statement that it 
would cooperate with the authorities in 
their investigation into suspected illegal 
transactions. 

"We deeply regret that such a situation 
has come to pass," a spokesman said. 
“The company will continue to cooper- 
ate with relevant authorities.” 

Regulators began investigating 
Nomura in September over allegations 
that two managing directors had traded 
through an illegal account. 

Nomura announced on March 6 that 
Mr. Maisuki and Nobulaka Fujikura, 
who was in charge of general admin- 
istration. had apparently entered into il- 
legal trades to generate profit to pay off 
sokaiya , gangsters who extort money 
from companies in exchange for pledges 
not to disrupt shareholder meetings. " 

Mr. Matsu ki and Mr. Fujikura al- 
legedly engaged in so-called discretion- 
ary stock transactions to provide hun- 


Hanoi Jails 2 Executives Linked to Bad Loans 


C.vyilrd by S&fff From IXs/vahsi 

HANOI — Vietnam reported the ar- 
rests Tuesday of two prominent exec- 
utives amid concern over loan problems 
in the national banking system arising 
from property speculation. 

Company officials and state inves- 
tigators said Tang Minh Phung, director 
of Minh Phung Export Garment Co., 
was detained by police Monday on a 
charge of "taking advantage of con- 
fidence to appropriate citizens' and so- 
cialist property." 


The state-controlled media repotted 
that a second senior executive, Lien Khui 
Thin, director general of EPCO Import- 
Export Co., which trades aquaculture 
products and imported fertilizer, had 
been arrested on the same charge. 

Both companies are private concerns 
believed to have defaulted on letters of 
credit to foreign and domestic banks. 

Minh Phung, one of Vietnam's 
largest garment manufacturers, with 
more than 9,000 employees, is among 
several companies that have come under 


scrutiny recently for their involvement 
in Vietnam's brief property-market 
boom of the early 1990s. 

Senior Vietnamese economists and 
bankers said last week that borrowing 
by some local companies to finance 
real-estate speculation had left the do- 
mestic banking system with millions of 
dollars in bad debts. 

A senior official at State Bank of 
Vietnam, the central bank, identified 
Minh Phung as one of the companies 
involved. (AFP, Reuters) 


TOYOTA: Japanese Company Is Set to Launch First Gasoline-Electric Hybrid Car 

Continued from Page 11 and possibly others are ex- icantly less than fully electric sell of electric cars. However, maximum efficiency. Wht 


marketing an electric vehicle 
in California and Arizona, but 
sales have been only a few 
dozen a month. 

Honda Motor Co.. Toyota 




IN THE U-S.A. 

Protect Your Personal Assets 

• Incoipofffle m arty state, ndutfng 
Delaware. Nevada 4 Wyoming 

• LLCs (timed LrebMy Computes) 

• in as sate as 48 hours 

Corporate Agents, Inc. 

Fax (302) 996-7078 
CompuServe GO INC 
irapiftKwwiaporaiBODm 


and possibly others are ex- 
pected to begin electric 
vehicle sales in California 
this year. 

The hybrid vehicles could 
avoid a major shortcoming of 
fully electric vehicles — the 
limited range of the batteries. 
The GM electric vehicle goes 
only about 90 miles before the 
battery must be recharged, a 
process that lakes about three 
hours. 

But the hybrid vehicle can 
travel farther because it uses 

r line. Also, energy from 
gasoline engine can re- 
charge the battery while the 
car is in motion, so that no 
external recharging is 
needed. 

Because hybrid cars can 
get by with smaller batteries, 
they also should cost signif- 


icantly less than fully electric 
cars, Toyota executives said. 
They would not disclose the 
price of their new car. but said 
they aim to keep it no more 
than about $4,000 more ex- 
pensive than a similarly sized 
conventional car, implying a 
price of less than $20.ti00 for 
a compact car. 

By contrast, the GM elec- 
tric vehicle, which seats only 
two people, has a price of 
$34,000. 

Toyota officials suggested 
they expect to sell significant- 
ly more hybrid vehicles than 
the several hundred a year that 
most manufacturers expect to 


sell of electric cars. However, 
they would not announce a 
sales target and conceded that 
the hybrid car’s higher price 
compared to conventional 
cars would limit sales. 

In Toyota’s hybrid vehicle, 
power from the gasoline en- 
gine is split into two paths — 
one directly turning the 
wheels and the other oper- 
ating an electric generator. 
The generator's electricity 
output can be used to turn a 
motor which drives the 
wheels, or to charge the bat- 
tery. The proportion of power 
allocated to each path is auto- 
matically adjusted to achieve 


maximum efficiency. When 
the car is started and moving 
slowly, only the electric mo- 
tor is used because gasoline 
engines operate inefficiently 
as such low speeds. 

In normal driving, the gas- 
oline engine is used, perhaps 
assisted by the electric motor. 
At full-throttle acceleration, 
the battery kicks in for an 
extra boost. 

When the car brakes or de- 
celerates. the gasoline engine 
is shut off and the momentum 
of the revolving wheels turns 
the motor, which acts as a 
generator and recharges the 
nickel-metal hydride battery. 


Proton to Buy 
Gear-Box Firm 


Bloomberg News 

KUALA LUMPUR — 
Malaysia's biggest carmaker, 
Perusahaan Otoraobil Nas- 
ional Bhd, or Proton, plans to 
buy Royal Begemann NV’s 
gear-box maker in a move ap- 
parently aimed at cutting the 
company's reliance on out- 
side parts suppliers. 

Proton is expected to pay 
Begemann about 350 million 
Dutch guilders ($185 million 1 
for the gear-box maker, 
VCST NV, which is based in 
Belgium. 


PAGE 15 


dreds of thousands of dollars in illegal 
profit to a real-estate company linked to 
a sokaiya. 

Nomura has not said how much 
money was involved in the trades, but 
Japanese media said Tuesday that 
Nomura had funneled about $400,000 to 
the real-estate company linked to the 
sokaiya. 

The Securities and Exchange Law 
bans discretionary dealing, which is 
done on behalf of an investor but not at 
the investor's request, and Japan 's Com- 
mercial Code prohibits companies from 
dealing with sokaiya. 

Mr. Maisuki and Mr. Fujikura 
resigned from Nomura ou March 10. 

The U.S.-based credit-rating concerns 
Moody's Investors Service Inc. and 
Standard & Poor's Coro, both have re- 
vised their outlook on Nomura's credit 
and debt ratings from “stable" to “neg- 
ative" because of the potential impact 
on its business of the trading scandal. 

(Bloomberg. AFP. AFX. Reuters) 


HonsKcmgt- 
Hang Seng 

14000 ' 

iwd~/V— 

12500 -W 1 X 

1200o/- 

1996 1997 


Slraits Times •• . 


2250 — 
2200 — 
2150 \ — -j 

2100 H 

2050 J? 
2000-^ 


O N D J F M, 
1996 1997’ 


r— -22000 

W- 2ioooV\fA 

Hr 20000- 

19000 

— 18000 


'“"IT n’d j F M‘ 
1996 1997 . 

-VBsw. " 5 &'■ 


Exchange Index tbesday,. -VB bk. Su 

* .V ‘,-CleM. jV Close:'. Ghanj 

HOog Kohg Hang Seng" v:.taij^i58 -.Ti749.14--t4Xg 

Singapore ' '-Strate TimBs.. ;." = ■ gjaStM " 2 ,894.40' 

Sydney • ■ - AS'Orcfeiarfes"' 1 . '. \ ■ +o.O 


Tokyo - . .'NRfcel&S- 

Kuala Lumpur Composite . 




I Bombay 

Source; Telekuis 


18^43.82; +2.1 9 

7 1£8?44 . l£MAP' --*0-83 
-HP** 
'ie&ae \ -»asi 

■■ 7, 94688' - riM 

; $222246-- ; &57 

' 7 'ss£isr : .,64£6s +i.f s 

•••Z233.sa / 7 
.3,730-gQ *0-85 

lueniauoiM] Herald Tribune 


Very briefly: 

• The European Union is to ask a World Trade Organization 
panel to reduce South Korea's 130 percent tax on imported 
whiskey and brandy. EU officials say the whiskey tax is 
discriminatory, because the comparable tax for soju. a popular 
vodka-style liquor, ranges from 38 .5 percent to 55 percent 

• Kellogg Co. of the United States opened its first Southeast 
Asian plant in Thailand, to meet what it said was growing 
demand for breakfast cereals in the region. 

• Singapore's disappointing February trade performance has 
prompted a downward revision of many 1997 growth fore- 
casts to a range of 6 percent to 7 percent from a range of 7 
percent to 7.5 percent, economists said, 

• Japan is to announce steps Monday to accelerare the sale of 
properties held as collateral, a move intended to help banks 
write off their bad loans. 

• Malaysian Resources Corp. is to sell its 43.7 percent stake 
in the publisher New Straits Times Press Bhd. to Sistem 
Tefevisyen Malaysia Bhd. for 132 billion ringgit ($532 
million) in stock. 

• Vietnam is proposing to build two oil refineries, one in the 
south and one in the north, instead of one large plant in the 
center of the country, a government official said. 

• South Korea warned it would take ‘’stem" action against a 
threatened wildcat strike for higher wages and benefits by bus 
drivers in the country’s six largest cities. 

• Japanese dock workers will ban night work as of Monday to 
protest changes in cargo handling made in response to U.S. 
complaints that current practices are restrictive. 

• PT Timor Putra NasiouaL an Indonesian automaking joint 
venture with Kia Motors Corp. of South Korea, replaced the 
president-director of its distribution unit, citing weak car 
sales. Soemitro Soerachmad was named to the post, suc- 
ceeding Suparto Soejatmiko. AFX. AFP. Bloomberg. Reuters 


BUSINESS MESSAGE CENTER 


INTERNATIONAL CLASSIFIED 


INSTRACORP 

(A US Public Company l 

PDflMpaft la tto mnm By IwasNag novlio unteM trad significant 21st CMtaiy 
tact) oology, A Needle Impulse eeneroTor (Nt6) wMcb when Installed Is etecntwri 


teeft oology. A Needle Impulse eeneraror 01191 wMcfc wtaeo installed la (Hecfrt 
upp Oon cea wtt mho die coasmniffon or auettny s^fltawdf . HnW ed grand ft 
oppon ra ny a pureftow towoftnort Vwws. Itwpiert bmetane hwn: 

AMlNEXz 1 16. rae da RMae, Ot- 1 204 Geneva. Switzerland 
TeL: (41 22)787 57 57 - FAX: 787 57 58. Web site httpi/totoexJotd] 


Untied grand floor . 


NOTICE TO THE UNITHOLDERS OF 


Registered Offieei 
16, Boulevard Royal 
1x2449 LUXEMBOURG 

SKANDIFOND EQUITY FUND 

MANAGEMENT REGULATIONS 
(modifications taking effect on April 1, 1997) 

Referring to the version dated September 1, 1994, the 
following modifications have been brought about. 

New Version: 

ARTICLE 9 - ISSUE PRICE 

First paragraph 

Tbc issue price of units in a Sub-Fund includes the net asset 
value of a unit in that Sub-Fund calculated in accordance with 
Article 7 of these Regulations, increased by a commission- 
which will not exceed 5% of the net asset value; this 
commission includes all commissions payable to banks and 
financial establishments taking part in the placement of the 
units. 


ARTICLE 12 - REDEMPTION 
First paragraph 

Owners of units may apply a* *Q 
units, which will be afleded at ti 


ty at any time for redemption of their 
,cd at the net asset value ruling at that 


units, which will be afleded at the net asset value ruling at Ural 
time, decreased by a commission which will not exceed 0.5(1% 
of Ihn net amet value: this commission includes all commissions 
payable to banks and financial establishments taking part m the 
redemption of the unite. 

Fifth paragraph 

Confirmation of execution of redemption will be made by 
dispatching an advice to the unitholder, indicating the name of 
the Sub-Fund, number and class of unite redeemed and tfic 
relevant net asset value per unit. Payment will be made in ua 
Dollars, Swedish Kronora, Norwj^ian Kronere or in the base 
currency of the Sub-Fund withm ten bank business days 
following the corresponding Valuation Day- 

Luxembourg. March 12, 1997. 

THE DEPOSITARY BANK fou^FUND 

S-E-BANKEN LUXEMBOURG SjL MANAGEMENT 


THE M*A*R*S* 

(to Bquktedon) 

NOTI CE TO SHAREHOLDERS 

Notice Is hereby given that ^ 

shareholders held In Luidmbouig on 17 •n*™" atarY residing in 

validly constituted before Frank ^ d ^£°d 
Luxembourg, shareholders have unanimously decided. 

THE LIQUIDATION OF THE M*A‘R*S* POMD ®J®V 

As ctely convened In the agendaof a l ‘^teith *997. 

published in the press on 1 3 /idringen. Luxembourg 

At the sane meeting, fln-controb e SA, U . w the company, 

has been appointed by *hart ho 'dfn»^ appointed as auditor 

Ernest and Ywng IU»embouigl SA has been a 

to the DqukkHfon. The Liquidator, 

FlifGontrole SA 


Financial Sendees 


WORLD WIDE FINANCING 

■Coranwdal Ifortpges 
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UJL DOLLARS AVALA8LE 
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Businesses For Sale 

MASSAGE THERAPY SCHOOL***. 
Very successful, excel lent investment! 
Sw-operaiirn. Beautiful New Metdca 
S395K firm. Otah only. 1-61M87-1747. 


COMMERCIAL 
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MONTPELLIER - SOUTH FRANCE {W1 
arponj 340 spn. offices tor rert in the 
iwan of nm, historical bidding near 
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RESTAURANT FOR SALE 

Superbly combated to 1590. 

10 tans bom Fratth wrid 09 stadtam 
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Page 21 
Ol 
E! 
G 


Announcements 

Attention visitors 
from the U.S! 


tf you enjoy reaiSng the (NT 
when you travel why not 
also get it at home? 
Same-day delivery available 
in key U.S. dies 

Cad ft! 8QQ 882 28M 

eralOsaggs^nbunc 

toe Mum nun wma 


LOOKING FOR A 
SUMMER CAMP 
FOR YOUR CHILD? 

Don't mss the 

International Herald Tribune's 


BAREME AS 24 

AU ZB MARS 1997 
Pin HOIS TVA en dense locate 
(traduction rfeponible sur dsmande) 
Rampiaw las baremes arderieus 

FRANCE (zone C) an FFri - TVA 20.6% 
GO: 3,73 FW: 124 

SCSI. 5,44 SCSP: 5 & 

UK en 8 -TVA 17,5% (tariff*) 

GO. 05266 FOO 1 : 0^476 

ALLEMAGNE (zone I) DM/I - TVA Iff* 

znei-s: 

BO. 1.06 

ZONE B-l : 


GO: 

>.03 

SCSP: 

139 

ZONE B * 

F: 



GO: 

1,03 

SCSP: 

137 

ZONE Rf- 

F: 



SCSP: 

157 



ZONE tV - 

fi; 



GO: 

W4 

FOO: 

0,61 

BaOQUE 

en FBri 

-TVA 21% 


GO: 

22JJ7 

m 

10,46 

scar. 

3333 

SCSP. 

31.49 


NORTH AMERICAN 
SIAHIBI CAMPS 
Saturday, March 29 


HOLLAfBE (ax)a£) NLGA ■ TVA 17J5% 
GO 1,248 FOO. 0.790 

SC97: 1355 SCSP: 1,796 

LUXasOURG en LUFri - TVA 15% 

GO I9J0 

ESPASNE (are A) en PTASMVA 16% 
AU 2503/97 
GO 097 

SC97: 102,41 SCSP: 103,28 

' Usage regbmente 


VIENNA, AUSTRIA. Tet 713 - 3374. 
Are you sad or worried? Lonely or de- 
pressed? Are you despaktng or surtdaf? 
It helps to talk about it. Phone; 
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Fri. 930 am - 1 pm end every day 630 
pm • iDpm. 


MONACO FI GRAM) PR1X - En)oy 
Monaco Grand Prix and Cannes Film 
Festrval nth 20 M wit and te craw tar 
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AUTOMOBILE MARKET 


TRANSC0 BB.OUM 

20 YEARS WE DBJVB? 
CARS TO THE Wmn 

A! mates and models 
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Fax: DI/2Q2 76 30 
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new TAX-FREE used 
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Auto Rentals 


RENT AUTO DERGI FRANCE 
WEEKEM): FF500. 7 DAYS: FF1500. 
TEL PARIS 433 W1 43 68 SB 55. 


Auto Shipping 


SAVE ON CAR SHIPPING. AME5C0, 
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US, Africa. Regular Ro-flo saing. Free 
hotel Tek 32^14239 Fax 232-6353 


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Since 1959 


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TRAVEL AGENT PHOTO ID. Up Id 
75% discount on Hotels, Car-Rentals, 
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Send 2 ptatoe, along with personal data 
to GAUsrw Assoc, poa saos Herdye 
46100 Israel Do not send cash! 

GUARANTEED UD. IMMIGRATION 
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DIVORCE INI DAY. No travel Write: 
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Services 


CULTURED 50 YEAR OLD HAN. haring 
a comtonaMe van, offera help to faragn 
wsilors lor stopping or guded vtsbG to 
museums, castles, ranter® m Fratt*. 
Gerard BabnTd Paris 433(0)140220046 
Fax Paris 433 (0)1 40220054. 



Real Estate 
for Sale 


TUSCANY HILLS, nev Arezzo, ctose to 
Casentno Fares htanal Part. beeuSiri 
sceneries, exettng (retting and horea- 
bsdr diing, owner sefe diracriy beeuBU 
farms and lands. Very conventant prices. 

Tet 00 39 55 2479473 Bam ■ 5pm. 


Paris and Suburbs 


MARAIS PICASSO 

Pretegious lenovason of 
HOiaDE SCAf¥»N 
FOR SALE 

Ona Wji dm Wdependert 6-foam 
epartrmt (240 sqjn.) wfh cnulraid & 
Battens. Itepifewa painted celngs, 
feted. Iran end ol XVlith century. 
PBXICED FEES 

V&andDe&s 
Tet 433 (0)1 53 60 65 75 
SNCSCARRON 


PARS 2NQ, METRO LOUVRE, magreff- 
cenl 102 eq>n apaflmeit fireplace, per- 
fed mndficn, 50 spjn. fwira room. Price 
FF2300000. TeL' 433(0)1 44 8E 02 (E 


Switzerland 



imXEGBEKA&ALPS 


saulhoriBed' 
since 1975 


ABrachre prapattas m H0NTREUX 
VEVEY, VtiARS, DtABLERETS, 
CRAI64KWTANA, ale. 1 n 5 bed 
rooms, SR. SOOjOOO to 15 mb 
PCVAC 

52, Mordfarttanl CH-1211 Geneva 2 
Tel 4122-734 15 40 Fax 734 12 20 


Real Estate 
for Rent 

Paris Ana Furnished 


ktate accommod at ion: studb-5 bedrooms 
Dually and serwe assured 
READY TO HOVE IN 
Tel +33(0)1 43128800. Fax <0)1 43129808 


CATTAUN JOHNSON IHM0 
Specialized In FUflMSHED RENTALS 
MARAS, superb duplex Snare, 

2 bedrooms, study. FF15L800. 
LATIN QUARTER, Fantastic cfefex, 
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1 mezzanine, Steeps 4. FFil^OO. 
HE DE LA COE. exceptional view on 
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AGENCE CHAMPS ELYSEES 


Rxrtetod apartrerts, 3 iwjnthft or more 
or unfurnished, nesidentsal areas. 


Teh +33 i 

Fmc 433 


42 25 32 25 

45 83 37 09 


CAPITALE ■ PAR7MMS 
Htetepfaked quAy apartnente, aB sizes 
Paris and sububs. We trip von best ! 
Tel 433(0)1-46148211. Fta(0)1-4B14B21S 


LARGE FURNISHED ApartnentfAtaBer 
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1-212-23^323, Far l^12426«44 

4th, PLACE DES VOSGES, charminn 
studio, completely redone. FF 3,700. Tet 
+33(0)1 48 78 16 44. 


larre equpped etufto, tagh 
rotate. FF 3,000 per week. 
08 24 82 11. 


PARS IGdi 
class, maid 
Tet +33(0) 


Ukraine 


UKRAINE. VEHMALA INVESTMENTS 
Ukraine. Rate Estate end Legal Specfaf- 
Ets. PtesBgously located ki toe cartre of 
Ktev. Commercial and Readertete proper- 
ties modernised to Western standards. 
ftirtstedUriumfehed Tel: (36044) 229 
8569 Far (3BJM4) 229 0478. 


Employment 



Positions Available 


WANTED 

P9B0NAL ASSISTANT/ 
BimSVDRJVEft 

Requimnants: &cefera tacufedga ol 
spoken and wriBen Engkaiu cawarsteton- 
al French and Man. Basic computer 
aWfe. Wing to B» and level between 
CaHomfa, nonhem Italy end French 
Suteflanl Stall itmmy. 
Please FAX CV A safety raqtireman • 
+41 91 993 1754 attre Bufer. 























PAGE 16 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


Tuesday’s 4 P.NL 

The umq most-frodetf Nofioncri Martel seajrftres 
in terms of doSar value, updcted twice a year. 
TTBAssoastefftasa 


ITjVuxm 

Hfen uu Sbc* 



N 

Os istructio 


5b, 
J &> 


& G 


cfr/TiSflJ 


a a *■ 
s se *3-: 

i « n *g 


“ ^ 8 as ® a a 

- 'S JH =8! 

» ,3 s i2 iS tf* 

j& ij £ iS a Sa SK 

■n s ’as a a 

'is II "It If 


,S H U *S E» m n ■* 

s “ &•££•£ h s 

£ K I *.f f f •’ 

,g s 4f S a f • 

'S'S " .is 8 u 



















































































































INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26. 1997 PAGE 17 

BUILT : 

Fi 

OR 

Bl 

JSI 

NESS: i 

BANGLADESH 

f 


Today marks the 25th 
anniversary of 
Btmgtadnsh’s Sndaper*- 

■ *ncfl. too government, 

under Prime Minister 
i ShoOc Hasfna Wftfed, Is 
• gMtaSzhrg the country's 
; economy. A significant 
array trf r ef orm s, dora&t- 
- latton and HberaBzatkm 
measure* has 
been enacted. 
Dhaka, the capital (right}, 

■ boasts many towering 

successes. 

A large texOe mitt (kmer 5 
right) is but one example g 

i 

of marry thriving 
industries. | 



LIBERATING THE ECONOMY FOR FREE TRADE 


As the global market gets more and more competitive. Bangladesh intends to hold its own. 


T here is do getting around the fact that Bangladesh is 
one of the world's most disadvantaged countries, 
due to a combination of unfortunate geography, 
impoverished resources and a huge rural population. But 
rays of hope are appearing at the end of Bangladesh's long 
march to development - a government that seems willing 
to play the global economic game and a business commu- 
nity eager to put the country's advantages to use. 

A significant array of reforms, deregulations and liberal- 
ization moves have been carried out in recent years as part 
of government efforts to globalize the economy. Other 
ventures are on the drawing board as the countjy tries to 
improve its investment climate. The genuine democratiza- 
tion of the political process, slowing population growth 
■ and rising literacy levels will also go a long way to 
improve Bangladesh’s economy and living standard. 

. '‘Bangladesh is an enormously overpopulated, s mall 
country with tremendous problems,” says Manucher 
Towhidi, managing director of Kafco, a multinational fer- 
tilizer producer operating in Dhaka. “But the government 
is openly admitting this. There has been much belt-tight- 
ening, and I'm delighted to see that they are certainly 
heading in the right direction." 

* local businesspeople and government officials agree 
that the biggest hindrance to investment is the country’s 


image. “Many foreign investors are conditioned by the 
media's focus on Bangladesh as the perennial victim of 
natural calamities,” says Salman F. Rahman, group deputy 
chairman of Beximco, a local conglomerate. “Once that 
conceptualizing of the country is gone, the other chal- 
lenges [of investing] pale into insignificance.” 

Abuzz with business 

Perhaps that image is already shifting. Since the Awami 
League took power in elections last year. Bangladesh has 
attracted more than $1 billion in potential foreign invest- 
ment Dhaka, the nation’s capital and largest city, is abuzz 
with business. Hotels are jam-packed, conference and 
exhibition facilities are in great demand and trade delega- 
tions are jostling with one another to raret various govern- 
ment ministers. 

“Our target is to create mil lions of jobs and attract bil- 
lions of dollars in foreign as well as local investments, to 
give a big push to the national economy ” S.M. Mamoon, 
director of Concord Construction, sad at a recent meeting 
of the Kuwait Chapter of the Institution of Engineers. 

The new government has said on numerous occasions 
thar “no stones will be left unturned” in its efforts to make 
Bangladesh an attractive investment destination. 

“In some respects, our package of incentives is in 


advance of [some other] 
countries.” says Anisul Huq 
Chowdhury, executive 
chairman of the Board of 
Investment (BOI). 

Economic sectors now 
open to foreign investment 
include textiles, agro-busi- 
ness and food processing, 
leather, electronics, proper- 
ty development, power and 
telecommunications, com- 
puter software and data pro- 
cessing, minerals, the creation and management of indus- 
trial parks as well as natural gas and oil exploration. 

And international interest seems to be high. Earlier this 
month, the government opened the bidding for gas explo- 
ration in IS blocks around the country, and dozens of inter- 
national giants from Europe, die United States and Japan 
are vying for participation. 

liberalization of government-run industries is also ac- 
celerating. 

“State-owned enterprises are in line for divestment in 




Bank Privatization 
Is Under Way 

The banking sector has started a reform program. 


Continued on page 18 


P rime Minister Sheikh 
Hasina Wajed inaugu- 
rated the new 30-story 
home of Bangladesh Bank 
- the nation's tallest build- 
ing - last February in a cer- 
emony attended by repre- 
sentatives of nearly every 
banking and finance com- 
pany currently operating in 
Bangladesh. 

Taking advantage of an 
opportunity to address a 
gathering of so many finan- 
cial movers and shakers, 
the prime minister called 
the structure a symbol of 
new hope for the local 
banking system and 
charged Bangladesh Bank 
with the responsibility of 
guiding financial reforms 
that are vital if Bangladesh 
is to keep pace with global- 
ization. Most everyone in 
Bangladesh agrees that the 
banking sector is badly in 
need of an overhaul. 

“The banking industry 
needs reforms - the intro- 
duction of modem methods 
and technologies, upgrad- 
ing skills and training,” 
says Finance Minister Shah 
A.M.S. Kibriahas, another 


government leader who 
pulls no punches when it 
comes to criticizing the cur- 
rent state of affairs. 

“There's a lot to be done. 
However, the basic prob- 
lem is the unacceptably 
high level of classified or 
non-performing loans. We 
are addressing this with the 
utmost seriousness,” he 
says. 

“It's an open secret that 
we have one-quarter of 
total assets classified," says 
Abbas Uddin Ahmed, man- 
aging director of the Inter- 
national Finance Invest- 
ment and Commerce Bank 
(IRC), the largest private 
bank in Bangladesh. 

Changing the tows 
Help is on the way. Ac- 
cording to experts in both 
public and private banking 
circles, major reforms are 
in the works. 

“For example, we have 
plugged a legal loophole 
which made it slow and dif- 
ficult for banks to recover 
loans," Mr. Kibriahas 

Continued on page 19 



CONCORD GROUP OF COMPANIES 

A Construction Conglomerate with Diversified Interests 


Concord Engineers & Construction Ltd. 

Concord Engineers & Construction Lid. and Its affiliates are 
celebrating the Silver Jubilee of its inception this year. For 
over two and a half decades, by undertaking some of the 
most prestigious and technically challenging projects. 

Concord has helped to shape the country's skyline. As the 
largest construction conglomerate in the country. Concord 
has expanded vertically to take advantage of linkages In the 
■ industry, and can thus provide unsurpassable quality at the 

most competitive prices. 

Concord Ready-Mix & Concrete Products Ltd. 

Always at the forefront of construction technology, Concord 
Ready-Mix & Concrete Products Ltd., with its fully automated 
plant, has broken new ground in manufacturing high quality 
concrete and a variety of precast concrete building materials. 

Concord Condominium Ltd. 

Specialising in luxury apartments. Concord Condominium 
became one of the pioneering companies responsible tor 
introducing apartment living to the upper echelons of the real 
estate market. In accordance with the company's latest 

CONCORD 

Pioneer in low cost construction 

Concord’s Innovations in the construction Industry have quickly become industry standards. After accumulating a quarter 
Concortfs Innovatio instruction Industry. Concord has just embarked on a multi million dollar project to produce 

0xp i ne ^rinn materials (from hollow blocks to all types of structural elements). This will usher in a new era In 

revototfonise^Tsting construction methodology, but H will have Its greatest 
\SSlnwonst housing sector. For Concord, this project is not only an -innovative step" Into the 
impact on the middle 5^ Y®®*. shape ^ future of our country, but an essential civic duty, to provide low cost 

new technologies and "MM KU, of the counts bulging populace. 


initiative in the middle income housing sector, the real estate 
division has engaged in land development on the outskirts of 
Dhaka. The aim is to relieve the pressure on the housing 
sector due to the (Sty's immense population. 

Modem Furniture & Interior Decor (Pte.) Ltd. 
Combining an in house group of architects and interior 
designers, supported by their own furniture manufacturing 
plant, the company provides an impeccable interior 
decorating sen/ice. 

Concord Corporation Ltd. 

This is the trading arm of the Concord conglomerate-a major 
participant in both local and international bids. 

Jeacon Garments Ltd. 

Concord Fashion Exports Ltd. 

Concord's diversification into toe garments sector came when 
this industry was still in its formative stage. Jeacon 
Garments and Concord Fashion Exports are now highly 
successful ventures in toe leading foreign exchange earning 
sector of toe country 


« 


Concord Group 

iaka-1212. Bangladesh. Tel: 871101. 60f 
cord BJ Fa* 880-2-883552 / 886150. E-mail: Concord @ bangia nel. 


_ , nnaka.1212 Banoladesfl. Tel: 871101. 606688, 601700. B06421 . PABX: 60027S4 

43, North Cqmmarclal Area, 


Whatever you make. 



...it costs less to make it in 


Bangladesh has the lowest cost to production 
ratio in the wortd. 

Which means that no matter what you make, it 
will be much, much more -economical to make it 
in Bangladesh. Add to that the fact that we have 
one of the lowest inflation rates in the whole of 
Asia, and a pro-investment government. Our 
economic liberalisation and. investment policies 
have encouraged. some of the biggest names in 
the business to set up operations . in 
Bangladesh. Names like. UNILEVER, BRITISH 
AMERICAN TOBACCO, H0ECHST, BATA, C1BAGEIGY, 


BASF. MARUBENI, CHIYODA, SINGER, 
SIEMENS, TOOTAL, vNESTLE, ’ AKZO NOBEL 
NEW ZEALAND DAIRY BOARD,. KUQK GROUP. 
-OCCIDENTAL, DAEWOO, HYUNDAI, BOC. 
RHONE POULENC BORER: \i 
There's one name missing though, a "name we'd 
love -to add -to this list YOURS. But you'll want 
to know more about what Bangladesh can do 
for your business. You could write to any of the 
organizations,; but it would be easier to get in 
touch with us. . : • ' . - • ' • ‘ • ; - 

We're standing byfor your call - 


* r ;•£ ; v*0 



BANGLADESH 

BOARD OF INVESTMENT 


PRIME MINISTER'S OFFICE. Shlipa Bhaban, 91 Mitijhee! C/A Dhaka 1000, Bangladesh, Tel : 880-2-9563573, 9567541 
Fax : 880-2-9562312, E-mail : ec@boi.bdmaiI.net or ecboi@>drfk.bgd.toolneLorg 


BOI/3/B7 








PAGE 18 


SPONSORED SECTION 



BUILT FOR BUSINESS: BANGLADESH 


•c i. 


In a Word 


Minister Hails Economics Above Politics 


Total! Ahmed Is Bang- 
ladesh’s minister of com- 
merce and industries. In 
the fallowing interview, 
he discusses the govern- 
ment's plans for attract- 
ing investment 

As countries pass 
through different stages of 
economic development, 
industrial activities also 
change. In which Erection 
do you see Bangladesh 
gong for the medium to 
long term, and what needs 
to happen for toe country to 
achieve its economic 
goafe? 

Just alter independence, 
we had a different econom- 
ic system. Our great leader, 
the father of our nation 
Bangabandhu Sheikh 
Mujibur Rahman, said that 
if our party was elected in 
the 1971 campaign, he 
would go for the national- 
ization of big industries. 
Almost all the jute and tex- 
tiles [operations] were 
nationalized. We held to 
take over the responsibility 
of almost all the major 
industries of the county 
But from 1974, a process of 
disinvestment has been 
going on and is still continu- 
ing today. 

Now changes have taken 
place all over the world as 
far as economic systems 
are concerned, and it is 
now the time of free- market 
economics, the time of lib- 
eralization and globaliza- 
tion. We have also started 
to follow the path of free- 
market economics, and 
structural changes have 
taken place. For example, 
we now have our own priva- 
tization board. Since 1973, 
we have divested 503 
industrial units. A further 65 
industries are now on the 
list for privatization. 

We have also privatized 
the energy sector. Both 


local and foreign investors 
are now able to mvest in this 
sector, as a result of which 
many foreign companies 
are coming into Bangla- 
desh to invest 
Is Bangladesh ready for 
large-scale investment? 

We are ready. The cur- 
rent government took over 
responsfoifity for toe coun- 
try on June 23 last year. On 
June 24, we had our first 
cabinet meeting and fixed 
our priorities. It was decided 
that investment was our 
number-one priority. 

We have set out a really 
excellent incentive pack- 
age. This 
includes tax 
holidays of 
five to 12 
years, no 
double taxa- 
tion, no cus- 
toms duties 
and 100 per- 
cent equity. 

Capital gains 
are allowed. 

Other steps that have been 
taken to create the right 
investment dimate indude 
the establishment of a per- 
manent law commission, 
enactment of private [enter- 
prise] laws and the formula- 
tion of an industrial policy. 

How wSI Bangladesh be 
affected by toe economic 
reforms that are currently 
being pushed by toe World 
Trade Organization? 

The Uruguay Round (and 
later the WTO) created both 
challenges and opportuni- 
ties for us. if we face the 
challenges, we can get the 
opportunities. To be in line 
with the WTO, we will have 
to stand on our own feet by 
2005. It is important to us to 
be setf-suffictent We need 
backward linkage compa- 
nies by then, so we are 
mobilizing our Hinds for this. 

In toe textile industry, for 


example, we have charted 
a course so that we can be 
seifsufficient in yam and 
fabrics tor the knitting and 
pullover industry in three 
years. 

There is also a feeling 
that Bangladesh’s econom- 
ic progress will be handi- 
capped by some WTO 
reforms. What are some of 
the negative factors affect- 
ing your country? 

Developing and more 
developed countries enter- 
ing our country without 
many restrictions. Mean- 
while, we are feting non- 
tariff barriers applied to our 
products 
entering 
other coun- 
tries. After 
the Second 
World War, 
the tariff 

rates of 
developed 
countries 
were around 
40 percent to 
44 percent Now they are 
down to 4 percent We are 
being marginalized and will 
continue to be marginalized 
every day if some special 
facilities are not given to 
least-developed nations like 
Bangladesh. 

Our entrepreneurs are 
capable and efficient, and If 
they get toe necessary facil- 
ities I think they will do very 
well. If the developed coun- 
tries of the WTO give some 
facilities to the least-devel- 
oped countries, Bangla- 
desh will do very weD. But 
we must have some facili- 
ties. 

What would you say to a 
potential investor who is 
concerned about the politi- 
cal stability of Bangladesh? 

After 25 yfears of inde- 
pendence, people have 
come to realize that we 
need to have political stabil- 



ity. Our elections are now 
free and impartial, which 
helps political stability. The 
chapter of our history where 
we did not have free elec- 
tions is now dosed - it is 
now law, written in toe con- 
stitution. We are interested 
to see that Parliament takes 
the responsibility to 
become the center of all 
activities - through parlia- 
mentary committees. We 
are interested in making 
decisions on the basis of 
consensus in Parliament 
with all toe political parties 
represented. We also dis- 
cuss issues with toe politi- 
cal parties who are not rep- 
resented in Parliament 

How does the new 
democracy affect economic 
development? 

As far as economic 
development is concerned, 
politics does not enter the 
picture. We are plating our 
economic development 
above everything. The pre- 
sent cabinet, under the 
leadership of Sheikh 
Hasrna Wajed, is working 
like a team. We have better 
understanding with each 
other and irrtra-ministerial 
cooperation. We have fixed 
our priorities, and ail the 
ministers know what they 
have to da There is no 
interference, if we want to 
discuss an issue with the 
prime minster, we can. 
Otherwise we are left at toe 
helm of our ministry to 
make prompt decisions. 

For instance, the U.S. 
ambassador recently came 
to me and explained that tor 
over two years the 
Chamber of Commerce 
had been trying to set up a 
local branch but had not 
been able to get approval 
from ail the relevant min- 
istries. After our meeting, 
toe branch was set up in 72 
hours. 


To you it is o fork. To us it stands for synergy. Synergy, that defines what Beximco 
is all about. Thirty years ago all we had was a jute mill and an intense desire to 
succeed - to come out on top. No matter what the odds were. It was a 
difficult road. Yes, we fumbled along the way. but we stood up stronger. And 
wiser. Which is why today, we are o conglomerate that has a turnover 
exceeding five billion taka and is reflected in businesses as diverse as textiles. 


N, 



synergy n [U. ci the combined effect of two or more things, 
processes, etc that exceeds the sum of their individual effects. 


trading, engineering, banking and finance, chemicals and pharmaceuticals, real 
estate, jute, computers, media and shipping. And the reason why we are here 
today is simply because we decided not to follow but to lead. To meet every 
challenge and beat if, Today, as we sit back and look into the next millenium, we 
can foresee only a bright future because our strength lies in the commitment 
of our people towards Beximco and Beximco s commitment towards Bangladesh. 


Relationships, tewnb. Hand in 

BEXIMCO Corporate Office 17. Dhanmondi, Road No Z. Dhaka 1205, Bangladosti. 

Tel: (880)- 2-861891-5. B6822Q-5. 500151 Fax: (880)-2-863470. 867647 Internet http-JAvww.beximco.coni email: bw'mcfiql® dhaka.aqni 


S 

o 

S’ 

a 

3. 


com 



Home-Grown Builders Set High Goals 

Although the company has an international profile, its top priorities lie in working dt ho ,' v 

In 1990, Concord joined forces with 
Ready Mix to become the first «Bnpa- 
nv in Bangladesh to cencaUy_flpra- 
facture cemenL SubsidiaryTimaord 
Ready Mbcand Concrete Prodnctris 
breaking new ground again , with 
development of a plant to coastract 
concrete blocks. ’ - 

"This technology may oe 4Q lo £0 
years old,” says Mr. Mamooo. “trait is 
new to Bangladesh. With this project, 
our aim is to bring down tbecosfcofaU 
construction by a minimum qi 2G per- 
cent-" 


es 

is one of the largest industrial 
conglomerates in Bangladesh 
and one of the first local companies to 
establish a profile on both die domestic 
and overseas fronts. 

Concord Engineering and Construc- 
tion is responsible for building some of 
the nation’s most famous structures - 
from the 24-story ' Janata Bank head- 
quarters in Dhaka to the 150-fooi (45.7 
meter) National Monument for Un- 
known Martyrs at Savar, which 
Concord completed in just 90 days. 

When the British government want- 
ed new high commission offices in 
Dhaka, Concord was named the main 
contractor, with M/S Balfour 
Kilpatrick International of Britain as 
the nominated subcontractor for elec- 
trical and mechanical works. When 
Mitsui Construction of Japan was 
awarded the contract to build the 34-stoiy City 
Telecommunication Center in Singapore, it subcontracted 
Concord to carry out all structural work. Concord finished 
the work six months ahead of schedule. 

Domestic focus 

“Overseas ventures are not the top priority for Concord as 
there is still so much work to be done at home,” says the 
group director, S.M. Maraoon. One of the foremost goals, 
says Mr. Mamoon. is the introduction of modem technol- 
ogy to the local building sector. Products and methods pio- 
neered by Concord include aluminum door and window 
frames (which they also fabricate), the application of 
sprayed epoxy and dry partition walls. 





The National Monument for Unknown 
Martyrs is in Savar, near Dhaka. 


Strategic redirection 
Production of the concrete bloeks-wdl. 
start this October. To promote this 
achievement, Concord plans to~bmkL a 
two-room community meeting placein . 
each of 20 selected villages around toe 
country. This move marks a strategic 
redirection for the group’s activities. Althoug h Con cord 
has a reputation for building the most luxurious apartments 
in Bangladesh, Mr. Mamoon's says the future lieS'inlow- 
cost housing. 

*T see tremendous potential," he says. “We plan te^pro- ■ 
dnce apartments for 1,100- 1.300 taka ($26-$31)perscpiare 
foot, mainly for the government” 

Seven subsidiaries of the Concord Group are related to - 
the construction and property industries, ranging from 
cleaning services to the manufacture of Venetian Winds. 
Jeacon, another subsidiary, produces garments fb Tseyera l 
large Western retell firms, including K-Mart and Christian 
Dior. 

Turnover was more than $15 million last yean • ; ' 


Taking Up Free Trade Challenges 


Continued from page 17 

phases in a further effort to 
encourage private-sector 
initiatives and develop 
competitiveness,” says 
Commerce and Industries 
Minister Tofail Ahmed. 

Abundant, low-cost labor 
is one of the most attractive 
benefits of investing in 
Bangladesh. The average 
monthly salary in the pri- 
vate sector ranges from $25 
(plus $15 fringe benefits) 
for unskilled workers to 
$45 tplus S25 fringe bene- 
fits) for skilled workers. 

“But we realize that it's 
not enough to be cheap,” 
says Mr. Chowdhury. 
“Workers must be produc- 
tive also. We believe that 
our workers are highly 
trainable and can meet 
international standards.” 

“I will state the case for 
investing in Bangladesh as 
simply as I can.” says Mr. 
Rahman. “You will find 
over 120 million people, 
both as a potential market 
and an able and willing 
labor force. You will find 
easy access to a market of 
over 2 billion people, or 
one-third of the world's 
population, in South Asia 
and Southeast Asia alone. 
Our labor costs are more 
competitive than almost 
anywhere in the world. 
Importantly, the new gov- 
ernment is publicly com- 
mitted to working with for- 


eign investors to make sure 
dial being in Bangladesh 
works for them.” 

Despite reforms and 
progress on the home front, 
Bangladesh's government 
and business leaders are 
clearly worried about die 
effects of the conclusion of 
the Uruguay Round Mul- 
tilateral Trade negotiations 
and the establishment of the 
World Trade Organization. 

In keeping with WTO’s 
global strategy. Prime 
Minister Sheikh Hasina 
Wajed says her government 
is currently pursuing active 
reform in trade, industry, 
finance, banking and relat- 
ed fields. She also thinks 
that further coordination 
between the public and pri- 
vate sectors will help Ban- 
gladesh succeed in the 
highly competitive WTO 
world 


Bangladesh’s New 
Investment Incentives, 


• 5-12 year tax hoGday. 

• Duty free import and 
expat of machinery, raw 
materials and goods in the 
export processing zones. 

• No restriction on foreign 
ownership in investments. 

• Full repatriation of profits 
and capital gains. 

• Multiple-entry visas and 


a liberal workpermttpoB-.: 
cy. ' • V 

• Prompt registration of 
Investments at the one-. • 
stop Boardpf Investment 

• Reform of the legal sys- 
tem, i ncluding legal pro- : ' 
taction to foreign invest- - ; 
meats against natkmaBzst- 
tion arfoexpropriaflon. 


Board (EPB). “We are 
heavily dependent ou these 
markets." 

According to Mr. 
Hossain. these are the mar- 


to i mp leme n t all these oew 
regulations by 1998,” he 
laments. “But we are being 
threatened that if they are 
not, the export of our 


kes that are most active. iu_ shrimp .wiU.be-atriskr._~ 


Free and fair trade? 

There is, however, a gener- 
al feeling in Dhaka that all 
is not fair in the world of 
free trade. Bangladeshis 
complain that even as tariff 
barriers come down, new 
non-tariff barriers are being 
erected - especially in 
Bangladesh's major mar- 
kets. 

“The European Union 
and the United States 
account for 76 percent of 
our exports,” says Akmal 
Hossain. director-general of 
the Export Promotion 


constructing non-tariff bar- 
riers like child labor and 
environmental restrictions. 
Mr. Hossain says drat social 
issues like child labor can- 
not be directly compared to 
the situation in more ad- 
vanced areas like the 
United States and Europe. 

Another pressing issue, 
the implementation of new 
restrictions in the . frozen 
food industry under Hazard 
Analysis and Critical 
Control regulations, could 
mean hardships for Ban- 
gladeshi food exporters. 
Mr. Hossain questions not 
the implementation but the 
timing of these new regula- 
tions. ‘It is veiy difficuTtfor 
a country like Bangladesh 


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Other issues that coujd 
severely hamper Bangla- 
desh’s exports fare nelv 
European bans on certain 
chemicals used in tfye 
_ leather goods industry arid 
restrictions” oil shrimp im- 
ports because of threats to 
tire sea turtle population. !. 

“Even though we’ve told 
them there are no turtles, in a, 
Bangladeshi waters,” Mr.*' 
Hossain says, “with these 
kinds of barriers, the advan- 
tages and opportunities cre- 
ated by free trade cannot be 
realized by countries Hire 
ours.” j 

Delivering the goods ‘ 
Bangladesh’s leaders think 
that the challenges 
by free trade must be 
led from a number of direc- 
tions. Even though exports 
have been rising steadily 
(averaging about 15 percent 
growth per year over dje 
last five years), the export 
product base could be sig- 
nificantly enlarged. i A 

During the 1995-96 fiscal ■ ’ 
year, one product - gar- 
ments - accounted for 65 
percent of total exports. 
Another four - - frozen 
foods, jute, leather and 
chemicals - accounted for 
another 27 percent ■ 

New applications arid 
markets for Bangladesh's 
various export product 
must be found. The country 
must also to get serious 
about backward linkage 
producing the raw materials 
that feed its current indus- 
tries, like fiber and material 
for the garment industry. 
Adding value to existing 
exports must also - be 
addressed by taking die x 
production process one or* 
two steps beyond c ur rent 
levels. « 

“Nobody owes anyone! a 
living," says Mr. Towhidi 
of Kafco. “It’s up to 
Bangladesh to establish 
itself as a competitive in- 
vestment site.” • 


“Built fob Business: ! 
Bangladesh” ) 

was produced in its entirety 
by the Advertising * 
Department of the !■ 
International Herald 

Tribune. y 

Writer: Julia Clerk. 1 
based in the United States', 
and Asia. . * 
Program Director: \ 
Bill Mahder. • . 



.-.-J 









INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


PAGE 19 


SPONSORED SECTION 


High 


Gq, 


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-nt incentives 


BUILT FOR BUSINESS: BANGLADESH 


'Export Processing Zones, an Instant Success 

EPZs employ tens of thousands, and the momentum is growing. Industries run from fishing reels to surgical sponges. 

B angladesh s export process- Export Processing Zones, which is EPZ industries run the gamut The government has also 
ing zones (EPZs) are an eco- 248 miles to the south, near the port from the manufacture of fishing legislation that allows priv 

nomic oasis tor bolh foreign ntv nf Phiririnnnn r^alf oolf *wi linm^nt Id looihor noerAtv rlairalAn Aum 


U nomic oasis for both foreign 
•.and local investors, offering a con- 
genial working environment that 
.‘.has the best infrastructure, boasts a 
host of incentives and is free of 
cumbersome red tape. 

The Dhaka Export Processing 
• Zone (DEPZ) was christened in 
i‘ 1993 and became on instant suc- 
.cess. All of the zone's fifty 2 1 ,000- 
square-foot plots are already spo- 
ken for, with 20 manufacturers up 
and running. 

*. The park is scheduled be expand- 
. ed by a further 214 acres. 

Seventy-one factories are opera- 
tionaJ at the 630-acre Chittagong 


Export Processing Zones, which is 
248 miles to the south, near the port 
city of Chittagong. 

$240 million investment 
According to Sayef Uddin, a mem- 
ber of the Bangladesh Export 
Processing Zone Authority 
(BEPZA). the total investment in 
the two EPZs is more than $240 
million. The top three foreign 
investors are South Korea <$B2 
million). Japan ($49 million) and 
Hong Kong ($38 million). 

‘Initially, apparel was the major 
order of business,” says Mr. Uddin. 
“Now we are more diversified, and 
apparel accounts for about 35 to 40 
percent of total investments.” 


EPZ industries run the gamut 
from the manufacture of fishing 
reels and golf equipment to leather 
goods, surgical towels and sponges. 
Overall, nearly 50,000 Bangla- 
deshis are employed at the two 
sites. 

Expons from the zones have 
grown by leaps and bounds, with a 
48 percent increase during the 
1995-96 financial year and a cumu- 
lative export total of $ 1 .3 billion as 
of January 1997. 

And counting 

Prime Minister Sheikh Hasina 
Wajed has mandated the develop- 
ment of a third EPZ on a 500-acre 
site in Gazipur, north of the capital. 


The government has also passed 
legislation that allows private in- 
vestors to develop their own export 
processing zones. South Korean 
investors were the first to jump at 
the chance, mapping out a 2.700- 
acre private EPZ in Chittagong. 
Open to investors from any coun- 
try, the South Kor-ean park will 
accommodate 130 factories and is 
expected to open by mid-199S. 

Under review 

Also under review, according to 
Anisul Huq Chowdhuiy, executive 
chairman of the Bangladesh Board 
of Investment, is a proposal to es- 
tablish a private sector EPZ solely 
for Japanese investors. • 


Banking Sector Privatization Is Under Way 


' Continued from page 17 

f explains. “We have also 
, written a modem bankrupt- 
u cy law to update the exist- 
. ing century-old insolvency 
■ r acL“ 

In another move, the cen- 
tral bank has directed all 
financial institutions to 
establish task forces to vig- 
orously pursue overdue 
loans. 

“The government is tack- 
ling the problem from all 
directions - legal action, 
; administrative action and 
t policy making,” says Mr. 
f Kibriahas. “It’s now a ques- 
l tion of administrative ac- 
; tion on the part of banks, 
j They have to apply the new 
* laws, go to court, get quick 
action and bring down the 
Yt volume of classified loans,” 

K 

” Ambitious targets 
y The targets are highly 
? ambitious. Bangladesh 
r Bank has charged commer- 
l trial banks and development 
•u finanriaUnstitutions (DFIs) 
with recovering at least 50 
■ 'percent of the total classi- 
■‘fied credit (amounting to 


some 15,000 crore, or $3.5 
billion) by March 31. 

As head of the Bank 
Reform Committee, a body 
of senior people drawn 
from both government and 
private banking, Mr. Kib- 
riahas is also working with 
the World Bank Project for 
Financial Reform to draft 
more reforms. Meanwhile, 
the finance minister has 
vowed that there will be no 
government interference in 
banking activities, especial- 
ly in die problem of the 
preferential granting of 
credit 

Privatization is in the 
cards for many of the state 
banks, with international 
creditors advocating divest- 
ment of the “big four” gov- 
ernment banks - Sonali. 
Janata, Agrani and Rupalt 

“Privatization will pro- 
ceed as a matter of policy,” 
Mr. Kibriahas declares. 
“Hie government should 
not be in the business of 
operating businesses. We 
have no intention of retain- 
ing banks - except for the 
one that performs treasury 
duties.” 


But, he adds, the privati- 
zation process is very com- 
plex, especially when it 
comes to institutions with 
large portfolios of non-per- 
forming loans. “It will take 

LtiberaBzation of the 
sector makes for- 
eign Investors feel 
secure doing busi- 
ness in Bangladesh 
and assures them 
they can bank with 
the institution of 
their choice 

time,” he explains, “but we 
are going ahead with this.” 

More than 10 foreign 
banks - including Bank 
Indosuez, Citibank. 
HongKong Bank and 
Standard Chartered - have 
been granted licenses to 
operate in Bangladesh. The 


entry of so many foreign 
institutions is creating anxi- 
ety at some local banks, 
which question whether 
there is enough room in the 
market for all this competi- 
tion. 

“There are too many for- 
eign banks operating in this 
market After all, it's not 
that big or attractive," says 
K Ibrahim Khaled, manag- 
ing director of Sonali Bank. 
This bank is the largest of 
the “big four,” with 1,313 
branches and deposits of 
more than $3 billion. “I 
think that the market will 
eventually expand, but they 
have come a little early.” 

Mr. Ahmed of IFIC dis- 
agrees: “It will mean that 
the slice of the cake will be 
thinner. But there is room, 
especially as the economy 
is now expanding, and the 
private sector is becoming 
more dynamic.” 

Upgrading standards 
The government hopes that 
by creating competition, 
the foreign banks will 
inspire an upgrade of the 
overall banking standards 


in Bangladesh, introducing 
more modem technology 
and procedures. 

Mr. Kibriahas also points 
out that liberalization of the 
banking sector makes for- 
eign investors feel more 
comfortable and secure 
doing business in 

Bangladesh; they are 
assured that they can bank 
with the institution of their 
choice. 

“We do have some goals 
in this regard, and these are 
that the foreign banks will 
act as a conduit for foreign 
investment and inspire con- 
fidence in investors and act 
as intermediary,” says Mr. 
Kibriahas. 

“They should take an 
important role in long-term 
financing - investment 
financing - and support 
some of the merchant bank- 
ing operations. And I 
expect the foreign banks to 
enter into syndication 
arrangements with local 
banks to finance large pro- 
jects, which will have many 
benefits as far as project 
evaluation and approval," 
be adds. • 



This nitrogen fertilizer complex is on the banks of the Kamaphuli River In Chittagong. 

A Natural Resource 
Is Converted for Exports 

Natural gas, transformed in a fertilizer complex, supplies many needs. 


In the late 1970s, the government of 
Bangladesh decided that one way to 
extract maximum value from the coun- 
try’s sole natural resource - natural gas 
- was to build a fertilizer complex. The 
offspring of that decision, a multination- 
al company called Knfco. is now the 
largest joint venture and single biggest 
foreign investment project in all of 
Bangladesh. In production for two 
years, the company is already chalking 
up $ 150 million in annual turnover, with 
potential for even higher sales in the 
future. 

It wasn't an easy birth. Developed by 
a complex consortium involving semi- 
govem mental agencies from Japan, 
Denmark, Britain and Bangladesh, as 
well as four private multinationals, the 
$550 million project was two full 
decades in the making. 

“Even though we have these serai- 
governmental shareholdings, we are a 
private sector concern.” says Kafco 
Managing Director Manucher Towhidi. 
“We are a Bangladeshi company with 
an international flavor.” 

One hundred percent of Kafco 's pro- 
duction is exported. Major products 


include liquid ammonia, a chemical 
intermediary for urea (165,000 tons pro- 
duced last year), and granular urea 
(580,000 tons). The company has an 
offtake agreement with Marubeni Corp. 
of Japan and Transammonia AG of 
Switzerland, which hold exclusive 
rights to the sale and marketing of 
Kafco’ s entire output of ammonia and 
urea for at least the next five years. 

Investment beacon 
India currently buys about 50 percent of 
Kafco's ammonia, with the remainder 
going to Taiwan, South Korea and the 
Philippines. The major market for the 
granular urea is also India, with China 
and Vietnam as other important mar- 
kets. 

“Kafco is a beacon to show the way 
for future foreign investment,” says Mr. 
Towhidi. “[Kafco shows] how it can be 
done and what is achievable with the 
correct support from multilateral agen- 
cies, the international financial institu- 
tions. the private sector and the govern- 
ment of Bangladesh. [Kafco shows] 
how it is possible to fund and achieve a 
project of this magnitude.” 


FLY BIMflN'S 
KEY CITIES 


NETWORK 


Heartiest felicitation to the Nation 
on the glorious occasion of 
our Independence Day. 






Biman Bangladesh Airlines offers convenient connections 
to 26 major cities worldwide - from North America 
to South Asia, from the Far East to the Middle 
East, from Europe to the Himalayas. Right on 
top of the world - at down to earth prices. 


A Biman 

W BANGL4DESI 


BANGLADESH AIRLINES 

Your home in the air 



IFIC Bank -Tomorrow's Bank Today 


IFIC BANK LIMITED 




Shilpa Bank Bhaban, 8, Rajuk Avenue, Dhaka-1000, Bangladesh 











PAGE 


INTERNATIONAL HERALD TRIBUNE, 




, MARCH 26, 1997 


SPONSORE D SECT 1.6 N 


S S EE j [ON 


BUILT FOR BUSINESS: BANGLADESH 




Hotel Demand 
Shows Increase 


Early booking has become a necessity. 


A DC-10 gets ready for tak&offin Dhaka.The airttne fBes to 25 destinations an three continents 


and has seven domestic routes. 


Airline’s Flying Colors 


The story of Biman Bangladesh Airlines is 
a reflection of Bangladesh's determination 
to succeed since independence. When the 
national air carrier was formed by presi- 
dential decree in January 1972, it didn't 
have a single aircraft at its disposal, and it 
had no funds with which to purchase any. 
Neither did the company have mainte- 
nance or engineering facilities. 

A month later, the government got the 
infant airline off the ground by seconding 
an ancient DC-3 aircraft from the Ban- 
gladesh Air Force. Disaster struck before 
the inaugural flight The aircraft crashed on 
a training flight 

The government came to the rescue 
again, donating two Fokker F-27s that 
went into service on domestic routes from 
Dhaka to Chittagong, Sythet and Jessore. 

today's Biman is a for cry from those 
early days. The airline flies to 25 destina- 
tions on three continents and has seven 
domestic routes. Its fleet of 10 modem air- 
craft includes four McDonnell Douglas 
DC-1 Os and two Airbus A-310s. Even 
more impressive is toe fact that Biman is 
running in the black. 

“At a time when a lot of major interna- 
tional airlines are operating at a loss, we 
have been operating with profits averaging 
about 500 million taka ($12 million) for the 
last four years," says Al-Ameen Chaud- 
hury. Biman’s managing director. 


Looking to the future, Mr. Chaudhury 
sees more cooperation between Biman 
and other airlines in the form of code shar- 
ing and space sharing cooperative agree- 
ments. "If the biggest airlines in the world 
cannot provide services to all the destina- 
tions in the world," he asks, "how can we?" 

Domestic growth is also seen as para- 
mount and fleet expansion and modern- 
ization are other high priorities. New desti- 
nations in the works include Iran, the 
Philippines and more European cities. 

Another key area is human resource 
development "We have to ensure that we 
recruit the very best graduates in order to 
keep up with the latest technology, n Mr. 
Chaudhury adds. 

Biman faces considerable competition 
even on its home turf, with some 15 inter- 
national airlines currently operating to 
Dhaka and more applying for landing 
rights. Bangladesh's aviation sector has 
been Ifoerafized, and private airlines are 
being given permission to operate domes- 
tic routes. 

Prime Minister Sheikh Hasina favors 
this "sink or swim” approach for Biman, 
saying that despite the country's resource 
constraints, the national airtine should 
keep pace with advances in aviation. 

“Biman will have to enhance its service 
and managerial efficiency to survive this 
competition,” she says. 


W hat do Queen 
Sofia of Spain, 
Prince Charles 
and Prime Minis ter John 
Major of the United King- 
dom, President Fidel 
Ramos of the Philippines 
and First Lady Hillary 
Clinton of the United States 
have in common with the 
prime ministers of India 
and Vietnam, the Bolshoi 
Ballet, and the national 
cricket teams of Sri Lanka, 
India and Pakistan? They 
are all relatively recent vis- 
itors to the Bangladeshi 
capital of Dhaka. 

Bangladesh is proud to 
welcome such distin- 
guished visitors. But when 
these VIPs come to town, 
the availability of top-notch 
hotel rooms can get very 
tight Dhaka has just two 
hotels of international stan- 
dard — the Pan Pacific 
Sonaigaon and the Dhaka 
Sheraton. 

Local conglomerate Bex- 
imco th inks one key to 
Bangladesh's future lies in 
offering potential investors 
the level of support services 
they expect elsewhere in 
the region. Beximco is 
building a new five-star 
hotel in Dhaka, which will 
be managed by the Hyatt 
Group. 

“Hotels are an integral 
part of creating a foreign- 
er's comfort level with a 
particular country," says 
group deputy chairman Sal- 
man F. Rahman. 

And there may be other 
top-rated hotels to come. 
The buzz on the streets is 
that there are two addition- 
al hotels in the pipeline, but 
all three of these projects 
are far from fruition. Which 
means the room crunch will 
continue. 

“At the moment, we 
don't need to worry about 
competition,” says San 


Amalan, general manager 
of the 240-room Dhaka 
Sheraton. Indeed, occupan- 
cy rates are impressive. 

“Our average occupancy 
rate for the month of 
February last year was 18 
percent,” says MJL Khan 
TutuL Sheraton’s director 
of sales and marketing, “but 
this February the numbers 
are reversed - 81 percent 
occupancy." 



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In transition 

The story is the same at the 
305-room Pan Pacific, 
where managers, say they 
are seldom able to offer 
guests the flexibility of 
unplanned extensions or the 
convenience of late check- 
out. “It’s very hectic," says 
Zutfia Asaf, education and 
development manager at 
the Pan Pacific. 

“In the past, there were 
numerous occasions when I 
could sit in the lobby all 
evening and not see another 
guest,” recalls a local busi- 
nessman who often stays at 
the Pan Pacific. “I remem- 
ber once being one of only 
five guests staying in the 
whole hotel,” a foreign 
businessman said rather 
wistfully when he was 
unable to extend his stay at 
the Pan Pacific. Luckily, he 
snatched the last room in a 
local guest house 

Besides the recent spate 
of high-level political and 
cultural visitors. Dhaka is 
also chock-a-block with 
trade delegations and indi- 
vidual businesspeople on 
reconnaissance missions. 

“I ask our guests why 
they are here," Mr. Amalan 
remarks, “and they tell me 
they are checking out the 
possibility of starting up 
business in Bangladesh. 
They are coming from ail 
oven Australia, Europe, the 
United States, Asia. And we 


are also seeing some leisure 
visitors. For example, at the 
moment we have quite a 
large group of Japanese 
tourists in-house.” 

Mrs. Asaf concurs: “We 
are facing a boom of in- 
vestors focusing on the gar- 
ment, electronics and ener- 
gy sectors. Most business- 
people come for three days. 
They have two days of 
business and the third day is 
spent frying to see a little of 
Dhaka and its surroundings 
- so city tourism is also fac- 
ing an upswing." 

As a result, private tom- 
operators are beginning to 
emerge in the capital, offer- 
ing one-day city tours and 
cruises on the Buriganga 
River, as well as day trips to 
the ancient capital of 
Sonargaon and to industrial 
zones situated just beyond 
the city timits. 

Where there are tourists, 
there are souvenirs. Bang- 
ladesh's offerings have 
improved drastically in the 
past few years. Beautifully 
designed and crafted 
leather goods, jewelry, cer- 
amics, embroidery, gar- 
ments and brassware (from 
planters to candle holders) 
tempt die tourist Visitors 
can try their luck haggling 
in die shops of Elephant 
Street, the city's main shop- 
ping drag, or head straight 
to the fixed-price, govern- 
ment-run department store 
dial is bulging with arts and 
crafts from around the 
country. 



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Hote^ provide both re freshwent and business services. 




Pan Pacific’s manage- 
ment believes that given the 
magnitude of D haka’ s tour- 
ism boom, a human-re- 
source crunch in the hospi- 
tality industry .is not un- 
imaginable. 

Mrs. Asaf thinks that 
local hotels have a respon- 
sibility to get involved in 
manpower development, 
creating a human resource 
“bank" and a reserve train- 
ing pool. “We give industri- 
al attachments to hotel 
management trainees who 
come to us for three to six 
months and work in various 
departments," she explains. 
“Rom there, they are better 
equipped to either work in 
Bangladesh or even go 
abroad to work in neighbor- 


ing countries like Malaysia, 
Thailand, Singapore and 
the Middle East” 

To deal with long-tenn 
competition in the hotel 
industry, . the Sheraton re- 
cently unveiled new recre- 
ation facilities and has . a 
master plan for a conven- 
tion center and more guest 
rooms. It also has a phased, u 
program of room renova -" 9 
tion. But with die high 
occupancy rates t akin g 
rooms out of commission, 
speedy upgrading is diffi- 
cult. “We had planned to 
renovate two floors starting 
at the end of February,” Mr. 
Amalan says, “butnow we 
are planning . oa just tine 
floor, and not until April 'or 
May”* 


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Bangladesh— the land of 


STAY AT 

DHAKA SHERATON HOTEL 
WHERE HOSPITALITY IS A 
PART OF TRADITION 


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Located in a garden setting and near the commercial 
heart of Mughal City, Dhaka Sheraton provides the 
best in comfort and convenience for business 
executives and travellers alike. 


The friendly smiles and efficient service from our staff 
has always been a symbol of true Bangladeshi 
tradition. Stay with us and discover our gracious 
hospitality from the moment you arrive. 




240 fully air conditioned Suites & Rooms. 

IDD Tclphone from rooms. 

CNN. HBO Movie Channel, Zee TV. STAR, 
BBC, ABC. ABN Channels are available. 

Mini Bar. 

24 hour Room Service. 

Non Smoking Room. 

Sarobar Pool Cafe - Italian Pizza and Pasta. 
Lobby Cafe - Continental Pastries and Bakeries. 
Vintage Grill - A traditional Style Grill Room. 
Bilhika Coffee Shop - Bangladeshi cuisine plus 
International Favourites. 

The Bar - A Club Style Cocktail Bar. 

Fully equipped Fitness Centre with Spa, Sauna & 
Steam Room. 

Outdoor Swimming Pool. 

Two Floodlit Tennis Courts. 

Fully equipped Business Centre. 

Courier Service. 

Ballroom for 350 people. 

Function Rooms for small to medium size 
receptions, dinner and meetings. 

Limousine Sendee. 


9 AGRANI BANK 
Janata Bank 

2^[ SonaliBank 


A number of Gift Shops. Book Store. News stand. 
Airline Offices. Banks, Tourist Information Offices are 
located in the Hotel premises. All major Credit Curds 
accepted. 

OUR WORLD REVOLVES AROUND YOU 


Dhaka Sheraton 


HOTEL 

fiwUareratoni 

1 . Minty Rwid, GPO Box 504. Dhaka- 1 000. Bangladesh 
Phone: (8X0-2) 863391. 86119! 

Fax: 1 880-21 832915. 832975. Reservation Fax: c880-2» 864068 


















«n.»r* nnintv M*»rn <|0 lOQ- 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


PAGES 


PAGE 21 



BUSINESS MESSAGE CENTER 


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LEGAL NOTICE 


Plaintiff, 


UNITED STATES DISTRICT COURT 

.9/: york 

MER RILL, LYNCH^ piERCEi * FENNER* * 

& SMITH INCORPORATED, 

-agaimt- 

BANCO NTERNATIONAL SA, - SWISS UMON SERVICES LHL; ABEL COSTA; GRACE ( 
AV1GOOR; D. SALMON; WHOL£SALH*S* VITBViATXMAL; ASAXO YOKOMUFTA, effete I 
ASAKO ALUBOWICZ; VORTEX BfTHMATIONAL TRUST, tWL; JEFFREY YOKOUUFtA; | 
HENRY ALUBOWCZ,- ROMEO MILES; MB TBUSTi SOL£R PROHOT»N SA.-AMTOINE , 
SOLER; HOB. HAIA1ELW; SAM. XTBJL; SYLVAN GALLEA; WCKAEL LUCAS; 1 
SARL DA TUFFERY; ROM TUFFEHY; PERRETTE TUFFERY; BERNARD VRRTH; | 
JACQUES DEMMEM LOUS DELAUtEY; SA JCM NOUSTRE; JEAH-CLAUDE MOREL; > 
SERGE SAVDAN; CLAUDE DUDEFAM9; SARL AGROJX; MICHEL DESCAMPS; SCI 1 
BELLE ALLEE; U. BACQUET^ RENE LABORDE; EL1ETTE VWLLE; ALAIN VFOLLE; I 
LHJANE SPENNATO; DANIEL ENNE; KEL BICONTRE, afeta Mel; JEAN-PAUL KE1L; ■ 
ODDO ET CJE; PHOEMX KAPJTALD04ST; ECOMARCHE SA JEPLAR; MANUEL DE * 
CARVALHO; JEAN4XAUDE VB3RNE; MARBPRANC06E ANTONETtE MOURtCETTE I 
BON; BERNARD BROUSTWE; CHERF HADJS; SERGE BISTY; HAURICBCLAUDE | 
WES; 3EAN-CLAUOE MARfE TBSSHRE; PATRICK BOUE; j CHRISTIAN HERVE . 
RJCARD; aiROPEAN TRADBtS INVESTMENT GUARANTY; REGIS LBWY: EURL ■ 
POGA; ANDRE DERMER, dtote ANDRE DERRB1 CON2A.TANT; PTO VANTAGE ONE | 


Na 96 On. 95B9(RWS) 


ORDER PURSUANT 
TO 28 USX. § IBS 
DtflECTVIG ALL 
DEFENDANTS TO 


INTERNATIONAL; TOM MSER; AAWE RICARD; KAHWE POTTRAT} US. GBJT ffirat n 
unknown); JOCELYNE JOUFFROY; GUY TAVET: ALAM BASSE; SBK£ DUMONT; and * 
JOHN DOES 1-3, I 

_ ^2f Bncl 52 t ^ — — w — i - — — X 


Uponibe annexad affidavil of Mtohael C. StBierberg (the 'SBbeitoig AUSdavtO^af 
; n 9ds action can be served within the State of New Ybrk and that piaktiff Men*, 
Kt. despite due dSgenco, b unable to ascertain the addressee d ttuse defend 


_ that none of the 
. . Pierce, Fenner & Smith 
defendants feted in ExNbk B to the 


defendants 

(M o aned 

, and lor good cause shown, (tb hereby 

ORDERED tal each defendant Bated tn Exhfbtt A to *» SKwberg Affidavit xhafl be satved with thb enter and the 
to (Ms teflon ta accordance wfth the neqwrements of Rule 4(e) or (0 of toe Fecterat FUea of CM Procedure, as 
c stilt b hither 

ORDG^) that, puauart to 28 UXX. § 1655, each defendark feted In Etiilti Ata the SSrarberg AHdava tewfl appear 
or pindn thb sfkxi no latar than sitiy (6t^ days tiler thb order has been served upon such (fefendanf; and h b further 

. OFfflSSD toat Sb defwvMnts itetod in Ext^S B to the SA&Oiberg Affidavit strail bo ee^ed by {xiric^on of this 
otter, axcftjtSng ExhtoA A to the Stawrberg Affidavit, In toe European version of toe Marnatkanaf HerakJ Trnuno, not tesa than 
onwirweekior a period of sbt cwisactrtw weeks «« "Pubicafion Ptafed'); raid 8 b father 

_ ORDERED dal Bie defendants feted In ExNbB B to the SOberberg AiMavtt ahaU appear or plead m tots action no 
tafer tan teftiy (60) days after the axpMfon tte die PUrtcafion Period. 

- ,T ’ . Dated: M5-97 fejonatrae of Hon. Robert W. Sweet) 


United States Dbtrio Judge 


UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 


WBWBLL, LYNCH, PERCE, FENNER 
& SMTO MCORPORAIED. 


BANCO MTHtNAnONALSJL et aL 
Defendants. 


-agafnst- 


Ptakteffr, 


No.96 Cfv.95B8(RWS) 
AFODAVTT 
M SUPPORT OF 
EKEAHEE NOTION FOR 
ORDStnRECnNG 
ALL DEFENDANTS TO 
APPEAR OR PLEAD 


• MICHAEL G. SJLBBRBERG, tatano AiSy sworn, depoaea ml 

1. 1 am an attorney dtJy triWfted Ip pactfce beftxB 


_ Me CouL representing ptainW MenM, i^ncfi. Pferca, Former 
acikn. I make ro affidavit in auiport of MarrS Lynch's Hfcfl ' 
ptead in thb action no tetarthant . 
European deferabna, rdudtog 



transfer tea turds, along with other 
d andtor 


fraud 


IUJ 


Decfaratory Rafiel 

h to wna y w fc in of three krtenfeHiearbig accotmB - ' ' ' 

- _ _ '.14aTiThaStas to the 

s. AS esaged to no 

Lwch reruaste an attar, pursuant to 28 U.S.C. 
after service of the order Is effected (the \ramtog 

I most of the toreiui defendants: those defendants 
i dunnw t h: defendants w» the 
1(h). Men® 
" tor local 


perspcaly or through a 
the data tiiaris can be r 




of thedrtendaitaJ^dtoEtirWBtwatoi^WwinBnop^nwrtrgdBto 

mw»imr«l to locate toe addresses at these defendants througn iBmwni w iie and 
fttetwastigrtion included the efforts of Man® tjmehto French cornel, who 
..S+WwiSffiea of conwaBons and tncMduab. ram.fciitoerlfrt 


r Wormed tote this 


rBgant rrosagaeon. I am htormed tost arts 

jsssSjuis^^ 




a week for abr 
the I nternati on al 


Hsrakf Tribunal 


TWBh reaped to lha defenttante Sated to ExM®. B. wmtog onter rtrect them to 


Sworn to batore me thb 23KI ttey ci Decanber. 1896 


Period. 


MktoMl C. Statag 


Notary Public 

(Samp d notary puw E ^ BtoWB ^ of HlchaMftStt«baq 

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[OTHCUTWm 


PAGE 22 


Sports 


World Roundup 


2 Picks for Ballesteros 


GOLF Europe's Ryder Cup com- 
mittee on Tuesday told Seve Balles- 
teros, the team captain, that he 
would have only two choices instead 
of the four be wanted for the Sept 
26-28 tournament against the United 
States at Vaiderrama, Spain. The 
rest of his team will be made up of 
the top 10 Europeans in the Euro- 
pean Older of meriL 
Ballesteros had called for a play- 
ers' ballot to try and change the 
selection process to give him four 
picks to select players who have 
been injured, out of form or on the 
U.S. PGA Tour. (AP) 


For Lipinski, Thin Ice Ahead 

Causes for Concern: Immature Bones and Emotions 


ItuemMorul Herald Tribune 

AUSANNE, Switzerland — 1116 


L AUSANNE, Switzerland — The 
smaller, younger giris were told 
to stand on the upper steps as if 


Vantage Point / Ian Thomsen 


Israelis Attract Protest 


cricket Some 300 Malaysians 
from an opposition Islamic parly 
protested Tuesday against the pres- 
ence of an Israeli cricket team in 
Kuala Lumpur. 

The protesters, shouting slogans 
against Israel and carrying placards, 
marched by the prime minister's of- 
fice. Israel is making a rare sporting 
appearance in Asia at the Interna- 
tional Cricket Council Trophy being 
held in the Malaysian capital. 

Some protesters carried placards 
in Malay and English that read: 
“We do not accept lews in this 
country.’* “Israel get lost from 
Malaysia," and “Which is impor- 
tant: cricket or Islam". 

The ICC tournament involves 22 
nontest playing nations. The top 
three teams will qualify for the 
1999 Cricket World Cup. 

• Sri 1 -anlca. the reigning World 
Cup champion, beat New Zealand 
by six wickets Tuesday in a one- 
day international in Christchurch, 
New Zealand. 

New Zealand batted first and 
made 201 for nine in its 50 overs. 
Sri Lanka passed that total for the 
loss of four wickets with just over 
14 overs to spare. (Reuters) 


JLmJto stand on the upper steps as if 
they were posing for a portrait, hi fact, 
they were receiving their awards at the 
World Figure Skating Championships 
last weekend- The “ladies” gold 
medalist, Tara Lipinski, was by far foe 
tiniest skater at foe weeklong event, and 
at 14 she was its youngest champion of 
all time. 

For foe next year leading up to the 
Winter Olympics, Lipinski will con- 
tinue to receive three personal tutors at 
her home near Detroit, where she and 
her mother moved to be near her coach. 
She will practice skating for about five 
hours a day. five days a week, which 
seems to be as much as her developing 
joints and bones can handle. 

There is talk of her joining an ice tour 
this summer and earning more than $1 
milli on for the year, with potentially $10 
million to come if she prevails at the 
Olympics next winter in Nagano, Japan. 

While this lucrative industry blooms 
around her. someone should be safe- 
guarding her in ways that a future 15- 
year-old (her birthday is June 10) cannot 
begin to fathom. After the Olympics. 
Lipinski should still have four-fifths of 
her life ahead of her. according to Amer- 
ican actuarial averages. Can they be 
happy years? 

The lovely television pictures of last 
weekend did not dwell on such issues. 

* ‘I'm very concerned that young girls 
are being thrust into foe spotlight at an 
age when they have immature bodies 
and immature emotions." Dr. Angela 


have been blessed with “very strong 
families and support mechanisms.” 

But the lure of an Olympic gold 
medal has its consequences. For teen- 
age girl stars, the risks include psy- 
chological problems and eating dis- 
orders, according to Smith, 

The negatives became- obvious at a 
news conference last week involving 
Lipinski, Kwan and Nicole Bobek, 19, 
who won foe U.S. championship in 
1995. 

“When I was 15 to about 17 or 18, my 
body changed," Bobek said. "I got hips 
and other tilings. It was a struggle, and 
there is nothing you can do about it, 
because your body is changing.” 

Bobek’s rival and teammate, Kwan, 
had also been having difficulties tins 
season. One reason, according to 
Kwan’s coach, Frank Carroll, was that 
“Michelle's body has been changing 
quite a bit in the last year." 

According to Ltpinski’s coach, 
Richard Callaghan, medical experts 
have said she probably will not grow 
taller than 5 feet (1.52 meters) — as if 
this were promising news. As her body 
matures, Callaghan promised. “We’ll 
handle iL" 

There is something inherently wrong 
about a sport that treats natural growth 
as if it were a problem. 


I HE WORST offender has been 
gymnastics, where coaches 
openly admit that strenuous train- 


Smith, who chairs foe sports medicine 
committee of the U.S. Figure Skating 


committee of the U.S. Figure Skating 
Association, said as she waited Sat- 


ing at an early age often “helps" to 
delay puberty. In 1994, the former gym- 
nast Christy Henrich starved herself to 
death five days after her 22d birthday. 
She had suffered through five years of 
anorexia after deciding to lose weight, 
she said, when an American judge told 
her that she was too fat — at 90 pounds 
(41 kilograms) and 4 feet. 1 1 inches — 


urday for foe medal ceremony. 

“This should be a time for individual 


Back to Court 


soccer August© Lendoiro. 
chairman of Deportivo La Coruna, 
said Tuesday he would take of- 
ficials of the Spanish Football Fed- 
eration and FIFA, foe governing 
body of world soccer, to court. On 
Monday, FIFA rejected Lendoiro ’s 
appeal against an 18-month sus- 
pension and a fine of 1 00.000 Swiss 
francs ($68,600), which they im- 
posed as punishment for taking foe 
Spanish federation to court. FIFA 


and social development To be asked to 
maintain a high level of performance at 
this stage in their development could be 
potentially damaging." 

Smith wished to emphasize that Li- 
pinski. as well as the American silver 
medalist Michelle Kwan, 16, seemed to 
be "very solid young children" who 


to qualify for foe 1992 Olympic team. 
The pressures in figure skating cook 


The pressures in figure skating come 
from ever-increasing demands for tech- 
nical and athletic precision. 

"All three of these women knew that 


Sanchez Vicario Beaten Again 


posed as punishment tor taking the 
Spanish federation to court. FIFA 
bylaws forbid teams from using 
civil courts. Lendoiro said he 
would take the new action at a 
personal level. (Reuters) 


Glib to Fight Ban 


RUGBY UNION Brive. a leading 
French club, said Tuesday it would 
fight a 30-day suspension given to 
its star back Christophe Lamaison 
by foe Five Nations’ disciplinary 
committee for a late high tackle on 
opposite number Craig Chalmers 
when France beat Scotland in Paris 
earlier this month. (Reuters) 


Japan Scores 10 


SOCCER Japan thrashed Macau, 
10-0, Tuesday in Group Four of tire 
Asian first-round World Cup qual- 
ifying in Oman. Japan beat Oman, I- 
0, in its opening group game on 
Sunday. Oman beat Nepal, 1-0, in 



Tuesday ’s other game. 


Anna Kournikova, 15, showing frus- 
tration after losing a point to Jana 
Novotna. Novotna won 6-3, 6-4, 


New York Times Service 

KEY BISCAYNE — Arantxa Sanc- 
hez Vicario, a Grand Slam champion 
who has not won a tournament in almost 
a year, continued her puzzling free fall 
Mooday at the Upton Championships. 

The second-seeded Spaniard again 
lost against a supposed inferior. This 
tune it was 29th-ranked Sandrine Tes- 
ted of France who won, 6-0. 7-5. 

Sanchez Vicario is not foe only former 
No. 1 trying to regain lost ground Mon- 
ica Seles is having a difficult time re- 
charging her career. 

On Monday, Seles, appearing in her 
first event of 1997, reached the fourth 
round by pounding an awed Asa Carls- 
son, 6-2. 6-1. 

The strange feud between Lindsay 
Davenport and Mary Joe Fernandez, 
whose doubles partnership and friend- 
ship both ended late in 1996, produced 
another grudge match. 

Two weeks ago, the duo tangled in 
foe semifinals at Indian Wells: Fernan- 
dez played like a shrinking violet and 
Davenport crashed past her en route to 
the title. Monday. Fernandez extracted 
revenge with a 6-2, 6-4 victojy over the 
player who, after hailing her as a ment- 
or, rejected her in favor of Jana Novotna 
as a 1997 doubles partner. 





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if any of them had missed a jump, they 
would have been out," Smith said as she 
watched foe medal ceremony. 

To live with such requirements. Smith 
said, many women skaters "may have to 
resort to abnormal eating patterns in 
order to maintain a boyish body." 

To relieve some of the pressure. 
Smith and other officials are lobbying 
the International Olympic Committee to 
remove all mention of weight from the 
biographies of women athletes. 


F IGURE slrflring has been slow to 
heed foe warnings that increased 
after 1991, when foe International 
Skating Union decided to abolish the 
slow, technical figures program from its 
competitions. Those tedious elements 
took years for young women to master: 
in their absence, the door was flung 
open to younger, more athletic and po- 
tentially more telegenic giris. 

"1 became so frustrated that I quit foe 
sports medicine committee — I was vice 
chairman — because everyone I talked to 
didn’t see a problem," Smith said. 

She was later asked to return as chair- 
man, a promising sign. But she remains 
concerned about die sport's priorities. 
She said that the recent move to set a 
minimum age of IS had come not to 
protect young skaters but because judges 
did not Him foe mite-like influen ce that 
Lipinski, as a 13 -year-old, brought to the 
world championships last year. 

The new minim um was not applied to 
Lipinski this year. She was "grand- 
mothered" in under foe old regime, and 
the judges, in a close call with Kwan, 
awarded her foe gold medal. 

Dr. Rudolf Johner of Lausanne, a 
former pairs skater who with his sister 
placed fourth in the 1965 world cham- 
pionships, said there were few examples 
of physical problems experienced by 
young skaters, in part because little re- 
search has been done on foe matter. 

After overseeing a scientific and 
medical seminar before last week’s 
world championships, he said the main 
physical problem for skaters involved 
their rigid boots. Smith is testing a 
hinged boot that could relieve stress on 
the lower leg near foe ankle and si- 
multaneously allow skaters to jump 
higher without sacrificing support. 

Because she doesn't have to worry 
about reproducing figures on the ice. 
Lipinski will be free to spend the next 
year improving her speed and trying to 
perfect either a quadruple toe-loop 
jump, never landed in competition by a 
woman, or a triple axel, which has been 
achieved by only two women. 

Callaghan said he was aware that too 
much physical work at her age might 
cause problems later. 

“She wants to be on the ice too much, 
and we're still working on that," 
Callaghan said. "I point out to her that 
she’s 1 4 and that I want her to be healthy 
when she’s 24.” 

There is no reason to doubt his sin- 
cerity. Taken together, however, foe 
fleet of adult professionals surrounding 
Lipinski — coaches and choreograph- 
ers. agents, sponsors and marketing 
consultants, the crews of TV networks 
that realize enormous ratings from her. 
the hundreds of journalists competing 
for stories about her — must give Li- 
pinski foe impression that nothing less 
than more hard work is expected. 

Her carefree, wispish approach to 
championship skating is itself a myth. 
As much as she resembled a Disney 
character in her petite sequined dress, 
her every movement was chiseled from 
years of hard practice: afterward, there 
was something very wrong about a large 
audience of international journalists 
asking for the opinions of a 14-year-old 
girl. 

And this was only the beginning. 

The layers of false importance will 
grow thicker around her as the Olympic 
competition approaches. 


WEDNESDAY, MARCH 26, 1997 


mm 




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MHulcg/Reoai 


D ennis Bergkamp of Arsenal, right, running at Liverpool’s defeat 
Liverpool won 2-1 after a controversial penalty awarded even though 
Robbie Fowler, a Liverpool striker, protested that he had not beep fouled. 


A Professional Nomad 
Seeks Gold in China 


By Rob Hughes 

International Herald Tribune 


L ondon — The global puli of 
soccer has Lured many a player 
many a mile from home. Even so, 
foe move Paul Rideout has just made 
from the north of England to Sichuan 
Province in foe People's Republic of 
China, treads new ground. 

Rideout, 32, is going for the money, 
the opportunity, the new experience — 
very much in that order. Two summers 
ago, be headed the winning goal for 


Would Soccer 


Everton in the FJV. Cup Final at Wemb- 
ley; now he is heading for foe Huang 
Dao Vanguards, which is apparently a 
nice little earner in the new professional 
league in China. 


Rideout signed a tax-free deal worth 
more than $500,000. plus bonuses, to 
spend six months trying to score goals 


for Huang Dao, in Chonqing city. He 
embarked on the 10-hour flight a week 


embarked on the 10-hour flight a week 
ago and arrived alone, prepared for aus- 
terity. 

Rideout joins nine China internation- 
al players, plus two other permitted for- 
eigners — a Croat and a Brazilian — 
under the coaching of a German, Klaus 
Schlappner and in the pay of the Huang 
Dao business conglomerate which has 
already bankrolled foe Vanguards from 
the second to the top division. 

Through translation, foe Englishman 
heeded advice to leave his wife and 
young family in their Liverpool home. 
His own accommodation for foe season 
from April through to December will be 
more basic. 

His query about a club car met with 
pained surprise: Why would he need 
personal transport when all members of 
foe team travel where they need to go by 
bus? 

Rideout has long traveled his own 
path. I remember him as a schoolboy 
from England's gentler south, a strap- 
ping. gifted lad scoring from 25 meters 
for England's Under 15s. 

He rejected Liverpool and Aston 
Villa in favor of a small town, lower- 
division club, Swindon. He reasoned 
that the smaller the club, foe greater his 
opportunity for first-team experience. 

Then he learned that to move is the 
way to profit. Though he never did 


fulfill his England potential he did move 
upward to Aston Villa, then to Bari in. - 
Italy, then to Southampton, to Swindon 
again, to Notts County, to Glasgow 
Rangers and to Everton. : • 

At the peak, he was foe center for- 
ward with almost everything. He could 
hustle defenders into error, holdfee baH d . 
at his feet distribute it simply but efr “ 
fectively, and use his head in the classic 
English striker’s mold. . 

Yet, though be crowned his career - - 
with the winning goal of the 1995 Cop 
Final against Manchester United, he 
leaves foe English Premier League as& 
player known for honest endeavor 
rather than spectacular achievement .* . 

The injuries he so often seemed to 
suffer from may have been a legacy ttf 
being pushed too high, too soon as a 
youngster, a problem medical experts 
around soccer are hying to control. *' ' 

To have tasted foe nectar of Wembley 
victory, is far, far more than most of 
Rideout’s England schoolboy interna- 
tional chums ever knew. He persevered, 
through good transfers arid bark • J 
The financial rewards cushion the 
nomadic lifestyle. But if Rideout thinks 
he will comfortably ride out his career in 
a less demanding league, be should 
listen to his new teammates. 


T HEY will be able to tell him that 
the Chinese are getting physical 
at their game. The China Footbafi . 
Association summer camp pushed na- 
tional squad players through a 10,000 
meter run every day for six weeks. To 
miss out was to be deemed too weak of 
body or mind to play pro soccer. 

Transfer fees are rising. China 1 ]? 
champion team. Dalian, paying the 
Army club $275,000 — almost double 
foe previous Chinese transfer record — 
for Hao Haidong. * > - 

It is evidence that China, like vir- 
tually every nation, wants to be taken 
seriously at the world game. • - . 

So foe fierce physical preparation in. 
Kunming, allied to the capitalist ex- 


penditure to buy in one or two seasoned 
foreigners, is under wav. Paul Drfvifi 


foreigners, is under way. Paul Diyip 
Rideout is going where few westerners 
have gone before. 

Physically, mentally and spiritually 
he will earn his dollars. 


Rob Hughes is on the staff of The 
Times of London. ■ 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 26, 1997 


PAGE 23 





ivanu 




ratal 




SPORTS 


' Tennessee and Stanford Advance 


Add Notre Dame and Old Dominion for Final Four 


. The Associated Press 

* Tennessee and Stanford are returning 
■to ibe women ’s Final Four in Cincinnati. 
Connecticut and Georgia are not. 

■! In rematches of the 1996 national 
[semifinals, Tennessee, the defending 
fhampion, handed top-ranked Con- 
necticut its first loss in 34 games. 91 -81, 
m the Midwest Regional, and Stanford 
' rolled post Georgia, 82-47. to win the 
k [West Regional 

. ■“ . Notre Dame. and Old Dominion also 
won Monday to reach the final stage of 
■the competition. 

[- Twiim wm 91, Connecticut 81 In a 

meeting of the last two national cham- 
pions, Chamique Holdsclaw had 21 
points and I! rebounds for the Lady 
yols in Iowa City. 

> Tennessee built a 1 5-point lead in the 
■first half, then held off a second-half 
[comeback by Connecticut 
Nykesha Sales led Connecticut with 
26 points and 14 rebounds. Sales scored 
six points in a 15-3 run that drew the 
■Huskies ro 50-48. and they trailed, 53- 
[52. after Rita Williams’ lay-up with 
■12:19 left 

[ Connecticut then had a chance to take 
die lead, but Holdsclaw stole the ball and 
sailed in for a lay-up to start a 9-0 run 


that made ii 62-52. After that the 
Huskies got no closer than six points. 

Stanford 82 , Georgia 47 Olympia ScOtl 
scored 21 points and Kate Starbtrd 15 as 
Stanford avenged a loss in last year’s 
Final Four competition. The Lady Bull- 
dogs took an 18-11 lead but Stanford 
retaliated with a 27-4 run to take control 
of the game in Missoula, Montana. 

“Going into the game. I think def- 
initely revenge was on our minds in 


Women's NCAA 


some ways," said Stanford’s Jamil a 
Wideman. the most valuable player in 
the regionals. 

Georgia, seeking a third consecutive 
Final Four trip, was led by Kedra Hol- 
land -Corn’s 13 points. 

Notra Dame (52, Gaorge Washington 52 

Notre Dame, the sixth seed, won the East 
Regional in Columbia. South Carolina, to 
readi the Final Four for the first time. 

Katryna Gaither had 25 points and 1 6 
rebounds to lead Notre Dame, which 
blew a 10-point lead, then responded 
with a 16-3 run to put the game away. 

George Washington 128-6) took a 39- 
38 lead with 1 1 Vi minutes left, then 
Notre Dame replied with its decisive 


run. The Colonials shot only 31.4 per- 
cent. and their two stars. Tajama Ab- 
raham and Noe Li a Gomez, each scored 
just 15 points. 

Old Dominion 53, Florida 51 Old 

Dominion earned its first Final Four 
berth since it won the national title in 
1985 in spite of going scoreless the last 
6:35 of the Mideast regional in West 
Lafayette, Indiana. Florida scored 12 
points in that span but missed three key 
shots and fell two points short. 

The Lady Monarchs led. 53-39. when 
the shots stopped falling into the net 

Florida got the lead down to two with 
! :34 left, then missed three shots as Old 
Dominion held on for its 32d straight 
victory. 

“Everything we ran. Old Dominion 
had an answer,” said Florida's coach. 
Carol Ross. “Defensively. Old Domin- 
ion set a tone at the beginning of the 
game. We had to work very hard to get 
every one of out baskets.” 

Aubry Ebtin, a reserve, led Old 
Dominion with 15 points. Florida's 
DeLisha Milton had 18 points and 19 
rebounds. 

Tennessee will play Notre Dame, and 
Stanford will face Old Dominion in the 
national semifinals Friday night 


% — — 

Rookie Leads Lakers 
To Victory Over Nets 


The Associated Press 

EAST RUTHERFORD. 
New Jersey — Rookie Travis 
Knight had 18 points, 14 re- 
bounds and 4 blocked shots to 
help the Los Angeles Lakers 
avoid their first three-game 
losing streak of the season as 
they beat the New Jersey 
Nets. 109-84. in the only 
NBA game Monday. 

“For a rookie, those are 
exciting numbers,” the Laker 
coach, Del Harris, said. “But 
« obviously consistency is the 
. thing we’re looking for. A 
game like this shows what 
he’s capable of.” 

• Knight's performance 
helped make up for a me- 


diocre night by El den Camp- 
bell, who has averaged 21 
points in the 20 games since 
Shaquiiie O’Neal was in- 
jured. He finished with 10 
points on 5 for 14 shooting. 

Knight shot 8 for 12 from 
the field in tying his season 
high for points and he reached 
double figures for the first 
time in 15 games. 

Nick Van Exel added 23 
points and Eddie Jones 16 for 
the Lakers, who finished 3-2 
on a road trip and rebounded 
from a 26-point loss Sunday 
to the Orlando Magic. 

Kerry Kittles had 17 points 
and Sam Cassell and Kendall 
Gill 15 each for New Jersey. 


In 4^1’layer Deal, Braves Send 
Justice and Grissom to Indians 

The Associated Press 

ATLANTA — The Atlanta Braves, the 1996 National 
League champions, sent outfielders David Justice and 
Marquis Grissom to the Cleveland Indians on Tuesday in 
exchange for outfielder Kenny Lofton and pitcher Alan 
Embree. the teams announced at news conferences. 

The Braves wanted to trade the high-priced Justice to 
make room in their salary structure to re-sign pitchers 
Greg Maddux and Tom Glavine, both of whom became 
free agents at the end of the season. Justice, who missed 
nearly all of last season with a shoulder injury, will make 
an estimated $12.5 million over the next two seasons. 

Lofton already had told Cleveland officials that he did 
not want to talk about a contract extension and that he 
planned to file for free agency after the 1997 season. 

Lofton. 29, hit .317 with 14 homers. 67 runs baited in 
and 17 stolen bases last season. 

Grissom, also 29. led off for Atlanta the past two years 
and had one of his best seasons in 1996. hitting 308 with 
23 homers. 74 RBIs and 28 stolen bases. 


Scoreboard 



H<-nn LarViiv’llii .Vpivdj'rd I'm, 


Wayne Gretzky going after the puck in New York. He had a goal and an assist against the Penguins. 


Lemieux Bows to Gretzky at Garden 


The Associated Press 

Mario Lemieux' s “farewell tour” 
took a wrong turn at Madison Square 
Garden. 

Facing Wayne Gretzky on Monday 
night in possibly their last meeting on 
the ice, Lemieux came up empty- 
handed in Pittsburgh's 3-0 loss to the 
New York Rangers. 

Lemieux has said this season will 
probably be his lasL But it hasn't been 
fun for him lately. The Penguins have 
won only 3 of their last 1 1 games. 

Injuries to Jaromir Jagr and Petr Ned- 
ved, among others, have robbed the 
Penguins of two of their top scorers. 
Lemieux especially misses Jagr, who 
usually plays wing on his line. The 
injuries have forced the Penguins' 
coach, Craig Patrick, to shift Ron Fran- 
cis to another tine, leaving Lemieux. to 
play with different line-mates. 

Lemieux, who has only had one goal 
in his last 1 1 games, came up empty on 
five shots Monday night. 

Gretzky, meanwhile, had a goal and 
an assist as the Rangers moved within 
four points of Florida for fouithplace in 
the eastern Conference in their battle 
for home-ice advantage in the first 
round of the playoffs. The sixth-place 
Penguins dropped four points behind 
the Rangers. 


Gretzky finished with a 17-7-1 edge 
in head-to-head meetings with Lemieux 
while playing for Edmonton. Los 
Angeles. St. Louis and New York. The 
final points tally in games in which they 
played against each other: Gretzky 60. 
Lemieux 38. 

“It's always exciting to play against 
Wayne and to watch him.” said 
Lemieux, in his 12th season at Pitts- 


N HI Roundup 


burgh. “He’s been a great player for 18 
years, and he is still a great player, even 
though he is 36 years old. He knows 
how to play the game.” 

Gretzky returned the compliment: 
“He’s such a great player, and anytime 
you play against a guy of that caliber it's 
always fun,” he said. 

The Rangers’ goalie, Mike Richter, 
turned in his fourth shutout of the season 
and 18th of his career, with 34 saves. He 
was especially outstanding in the second 
period when the Rangers were outshot 
14-3. yet scored the period’s only goal. 

Bruce Driver gave the Rangers a 1-0 
lead at 4:58 of the first when he beat 
Patrick Lalime with a back-hander from 
the sIol Mike Eastwood scored at 5:32 
of the second, and Gretzky scored on an 
empty-net goal with 50 seconds left, his 


23d of the season and 860th of his 
career. 

Canadians 3, Bruins 1 Martin Ruc- 
insky had a goal and an assist and 
Jocelyn Thibault made 19 saves as 
Montreal snapped a six-game home los- 
ing streak. 

"Darcy Tucker and Vincent Damph- 
ousse also scored for the Canadiens. 
who took sole possession of seventh 
place in the Eastern Conference. 
Montreal is two points ahead of Wash- 
ington and four points ahead of Hart- 
ford. 

Jozef Stumpel scored for Boston, 
which has lost four straight and six of its 
last seven. 

Oilers 5, Sharks 1 Ryan Smyth and 
Todd March ant scored in a 12-second 
span of the first period to lead Ed- 
monton to victory in San Jose. 

The attendance of 17.159 was 283 
short of a sellout, ending the Sharks' 
streak of 118 consecutive sellouts, 
stretching back to March 8, 1994. 

Kings 2 , Canucks 2 At Vancouver. 
Los Angeles's Vi tali Yachmenev and 
Dimitri Khristich each had a goal and an 
assist as the Kings tied the Canucks. 

Byron Dafoe made 31 saves for the 
Kings, who tied the game on Yach- 
menev 's ninth goal with 3:22 left in the 
second period. 


BASEBALL 


Exhibition Baseball. 


Monday's gjuus 

Ftortdo 7, Hooston 6 - • 

CmdnncH 5. Pflr&bijrgh3 
Las Angeles 4 Bafflmon>4 
tyorfreolA Boston 4 
St. Louis & Kansas Ctrl 
New York Yankees 6, Cleveland 4 
Beta* & CWcngo White Sax 1 
Minnesota 6, Texas 5 
eotorwto 7, Son Francisco 3 
Oncogo Cubs £ Anaheim 1 
Seotbe 14, San Diego 12, To tattings 
Oakland 1ft MBwmrteeB 
New Yofk AMs 6. Atlanta S 
Toronto a PjiflodelpWa 0 


BASKETBALL 


NBA Standings 



1 ATLANTIC WV«}0« 


— 


W 

L 

Pet 

GB 

- B " 

X-MkHM 

51 

17 

-750 

— 


•-New York 

49 

20 

J10 

2’A 

- 

Orlando 

W 

29 

SIA 

12 


Washington 

33 

35 

MS 

IB 


New Jersey 

21 

47 

J09 

30 


Philadelphia 

IB 

49 

-269 

3219 

r 

Boston 

13 

57 

.186 

39 


CENTUM. DIVISION 


x-CMcogo 

59 

9 

-868 

— 

x-Detratt 

48 

2D 

J06 

11 

x-AHanta 

47 

22 

,681 

1216 

Charlotte 

45 

24 

452 

14’A 

□evatond 

36 

31 

-537 

2216 

Indiana 

. 31 

36 

M3 

Z7Vi 

Mlwaukaa 

28 

39 

.418 

SOW 

Toronto 

25 

44 

J362 

34H 

unmncowuRCi 


MDWESTDIVIBON 




W 

L 

Pet 

GB 

VrlROh 

S2 

17 

J54 

— 

x- Houston 

45 

23 

-662 

6 H 

Minnesota 

33 

35 

.485 

1814 

Dados 

22 

45 

J2B 

29 

Denver 

19 

49 

.279 

32Vi 

Son Antonio 

16 

52 

.235 

35Vi 

Vancouver 

12 

59 

.169 

41 

pacific Dnnsxm 



x-Seaffle 

46 

20 

706 



x-LA. Lakers 

46 

23 

.667 

TA 

Portland 

41 

29 

-586 

8 

LA. (3ppets 

30 

37 

>148 

17V4 

Phoenix 

29 

39 

.426 

19 

Sacramento 

29 

40 

-420 

19)4 

Golden Stan 

25 

43 

-368 

23 


jKflndwd playoff berth: 

■ONperumu 

LA.u*m sms »-m 

New Jersey 29 22 17 14— 84 

UL: VDn Ent 9-1 9 4-4 33. KrtflM 8-1 2 2-2 
Iflf NJ_ tattles 8-23 0-0 17, GfU 5-15 5-8 15, 
CasseU 7-15 1-1 15. RebaaHl»-Li» Angeles 
59 (Knight 14), New Jeraey 70 (Massenburg 
11). Assists — Los Angeles 19 (Vbn Ewl B), 
New Jeraey 19 (Jackson 51. 


NCAA Women’s 
Tournament 


REGIONAL CHANPIONSMPS 

EAST 

Notre Dame 62. George Washington 52 
HiPUti 
OW-DomWan 51 Florida 51 
HIHMT 
Tennessee 91, Omnedlcut 81 
WIST 

Straifonj 82, Georgia SI 

NATIONAL SEMFINALa, MARCH 20 
Noire Dome vs. Tennessee 
Old DooiMonvs. Stanford 


HOCKEY 


NHL Standings 


1AETOM MlHnimri 

ATLANTIC DIVISION 



W 

1. T 

PIS 

CT 

GA 

x-PtAidelpMa 

41 

21 11 

93 

247 

190 

•-New Jersey 

39 

20 13 

91 

203 

165 

Rorido 

33 

24 17 

83 

201 

179 

N.Y. Rangera 

35 

30 9 

79 

239 

206 

WasMngton 

29 

36 8 

66 

185 

204 

Tampa Bay 

28 

37 7 

63 

194 

226 

N.Y.lskmden 

2S 

36 11 

61 

302 

215 

NORTHEAST DtVISiON 




W 

L T 

Pis 

GF 

GA 

x-Baftalo 

38 

23 11 

87 

216 

182 

Pittsburgh 

34 

32 7 

75 

251 

245 

Montreal 

27 

33 14 

68 

224 

253 

Hortted 

27 35 10 

64 

194 

225 

Ottawa 

24 

33 15 

63 

200 

212 


Boston 

UlMer 

24 

41 

9 

57 

212 

■ 

266 

CEMTOAL DIVISION 

m, 



W 

L 

T 

PtS 

GF 

GA 

x- Dados 

44 

23 

6 

94 

228 

174 

Detroit 

34 

23 15 

83 

229 

174 

Phoenix 

35 

34 

5 

75 

213 

222 

St. Louts 

31 

33 

9 

71 

214 

223 

Chicago 

29 

32 12 

70 

193 

187 

Toronto 

26 

41 

6 

SB 210 

253 

PACIFIC DnnSKM 




W 

L 

T 

PtS 

GF 

GA 

x -Colorado 

45 

19 

9 

99 

248 

178 

Edmonton 

34 

33 

7 

75 

230 

221 

Anaheim 

31 

31 

11 

73 

216 

208 

Calgary 

31 

35 

8 

70 

198 

208 

Vancouver 

30 

39 

5 

65 

226 

250 

L» Angeles 

26 

38 10 

62 

194 

242 

San Jose 

24 

42 

7 

55 

183 

243 


X-dtattad ployed berth: 

MOMMY'S MSOUS 
Boston 0 ■ 1—1 

Montreal 1 D 2—3 

1st Period: M-Rudnsfcy 26 (Popavfc, 
Damphousse) 2nd Period: None. 3d Period: 
M- Tucker 6 (ReccfiL Stevenson] X M-Domp- 
housse 25 (RvdMky. Rlcftei) A S-, Stumpel 
18 (Ray, Alteon] (ppl. Shots ea gee* 0- 7-1- 
12-201 M- 13-11-9 — 33. Goalies: fr-ToDas. 
Carey 20-25-1 M-TMbautt. 

Pmwwrgb 0 0 0-0 

M.Y. Rangers 1 1 1-3 

1st Period: N.Y. Drivers (Gretzky. Hatley) 
2nd Period: N.Y. Eastwood 2 (Berg, 
Krapovtsevl 3d Period: N.Y, Gretzky 21 fen). 
Shots oe goat: P- 9-14-1 T — 34. New York. 8-3- 
7—18. GeaHes: P-LaHme. New York, Richter. 


Les Angele s 0 2 8 0—2 

Vaecaever 0 2 0 0—2 

1st Period: None. 2nd Period: V-BOhonas ft 
(CnJrvfle, Lummell LA.-KMsUcb IB (Yach- 
menev. Tsynkriiov) 1 V-Naslund 17 (MogDity, 
Nernddnov] 4, LA.-. Yachmenev 9 (Tsy- 
pfakov, Khrtstfch) 3rd Period: None. Overtime: 
None. Sbais an goat LA.- 7-0-5-1—17. V- 15- 
7-10-1—33. GMteK LA.-Dcfoe- V-HbxJl. 
Edmonton 2 0 3-5 

Sm Jose 1 o 0—1 

1st Period: E-Sroytti 32 (Murray. Kovo- 
tankfll (pgl. 2. E -Merchant 13 (McGUBs, 
Buchbergeri X SJ.-Nttzarw l2(Bodger, File- 
sen) (pp). 2nd Period: None. 3d Period: E- 
Czerkawskl 25 (Wetghn.5, E-Morchont 10 
(Buch-oergm, McGffls) A, E-, Smyth 33 (Mar- 
chorA McGBBsJ (ppj. Shots M goat E- 16-12- 
7—35. SJ.- 1*4-11-31. Gardes: E-Joseph. 
SJ-rBttfoUf. 


CRICKET 


MIUHUIOM 

(JUTTED OVER DAT-NIGHT HATCH 
WW ZEALAND VS. SH LANKA 
TUESDAY. M CHRISTCHURCH, U ZEALAND 
New Zealand: 201 ter ntae In SO avers. 

Sri Lanka: 202 for four (n 355 oven . 

Sri Lnrlka wan by Sbwkkefe. 

MM TOOK 
1-DAY MATCH. 3D DAY 
BARBADOS VS. MOW 
hOndav, m anmaETOWN, Barbados 
Barbados: 338-4 declared 
India: 210 and 166-5 
Match ends In draw. 


GOLF 


JOHN We WAJUUft RYDCB cup 

Stentings lor the Ryder Cup io be ployed 
Sept. 2B-2B M Vdflmai a In Bantpende. 
Spam. The tap 10 flntahen quaBfy tar the 1 2- 
own team and U-&, copioln Tain KNe and 
European c ap t ain Save B n eoala ro e each 
hove two wOd-cord choices: 

UNITED STATES 

1. Mark O’Meara 750750, 2. Tom Lehman 
74429a 3. Phn MkJceison 651.790, 4. Sieve 
Jones 579J80, 5. Davis Lave rtf 540.000 6. 
Mart Brooks 51 9.75a 7. Tiger Woods500J)oa 
ft- Scott Hoch 48420a 9. Davit! Dural 390.000. 
ia Kenny Perry 371 25a 11. Paul StankoimW 
36334a 12. Michael Bradley 357.500 13. 
Fred Couples 35534a T4.JbnRffyk347.5aa 
15. Sieve Stricter 342-500. 

EUROPE 

1 . Conn Montgomerie, Scartond 331 ,364.1 6 
Z Miguel Angel Marlin. Spam 269,335.19 
a Thomas Blum, Denmark 23&057.40 

4. Darren Clarke, N. Ireland 201,379X2 

5. CsEtartteto Rocca, Holy 30032054 

6. lan Woasnam, Wales 170862.11 

1. Pouf Braadhunt England 17&506.73 

8. Jeon Van de Vefcte, France 166,749.26 

9. Per-Ufrlk Johansson, Sweden 162^33^5 
10- Sam Torrance Scotfand 150.90050 

11 . Lee Westwood. England 1 4&319JM 

12. Roger Chap man, England 171,401.35 

13. Pcdralg Harrington, Ireland 11&757.73 

14. Peter MltchelL England 1B& 970.79 

15. Miguel Angel Jimenez. Spain 101,006.14 


SOCCER 


UHH 4 SH PUMIEK IUMM 

Arsenal 1. Liverpool 2 
MMdtesbrougtv 1. NoRtngttem Forast \ 
w d in e a- Manchester United 63 paters 
Ltuerpool 6a Arsenal 57: ivewcasrte52, Aston 
VOa 5ft Chelsea 49, Sheffield Wed. 49, etc. 

SNUnSH HUT DUrtUOH 
Sparling G(]on 2 Valenda I 
•coadman Real Madrid 71, Barcelona 62, 
Rete Berts 62, Departhra Corona 59, ADeHco 
Morirfd 50 Real Sadadod 4& AIM. Bilbao 44 
Vanodofld 44 Tenerife 4a Vblenda 42, etc. 


TENNIS 


UPTON aUMPtOHCMP 

KEY BISCAYKE. FLORIDA 
MEN 

3D ROUND 

Thomas Muster C2I. Austria, def. Tommy 
Haas, Germany, 6-1, 6-£ Hendrik Dreek- 
monro Germony, def. Gustavo Kuerten, 
BrazX 7-6 (7-51, 3-6, 7-6 (7-3J; 

Jim Courier. Ui. deC Seem Draper, A»- 
rraSa, 4-6. 6-1, 6-4' Magnus Larasdn, Sweden, 
def. Stara DosedeL Czeca 5-7. 7-5. 6-3. 

R/charo Krajicek (5), Nefh. del A maud 
Boetscn. Fr. 6-1 7-5S Pete Sampras fl}. U^- 
def. Francisco CtoveL Spain, 6-1 7-6 a-3). 

Mikael Tnistram, Sweden, def. Carlos Mora 
f7). Spain, 6-4 3-4 6-0 Ale* Coaetja Spain, 
det. SebasOen Loreau. Canada 6-1, 7-5. 


WOMEN 

FOURTH ROUND 

fitarikm Hingis 0). Swtizenonaoef. Elena 
Ukhavtsova (16), Russia 6-1 2-4 6-1 Mary 
Joe Fernandez (10), UJL def. Lindsay Dav- 
enport (5). UJk, 6-1 64 
Ira Ma|ofl (8), Croatia, del. Barbara Schrit 
Austria 6-Z4-4 6-2i Jana Novotna C3X Ctectv 
deL Anna Kouraikara, Russia 6-1 6-4 
Htaa Splriea (7), Romada def. Qwnda Ru- 
bln U4L,1-47-6(7-2), 7-6 (7-Oj ManKa Seles 
(4). U-S.def. Asa Carissoa Swe. 6-2, 6-1, 
Barbara Pauka (11), Austria deL Alexan- 
dra FvsoL Fr. 6-1, 24 6-1; Sandrine Tesfuft 
Fr. def. A. Sanchez Vlcarto CO, Sp. 6-0 7-5. 


TRANSITIONS 


■Asnisu 

MAJOR LEAGUE BAS EB ALL 
AMERICAN LEAGUE 

Cleveland— Reteased RHP Dank* Hrttz, 
RHP Brett Palmer, RHP Tarty R untoa RHP 
RKharri Grift and RHP Jason Bennert. 

Oakland— Returned RHP Wlbner Mon- 
loya la the Cleveland. 

NATIONAL LEAGUE 

Pittsburgh — Released INF Esteban Bettm. 

BASKETBALL 

NATIONAL BASKETBALL ASSOCIATION 
Orlando- Activated F Amal McCasMIl 
from Injured list. 

HOcnr 

NATIONAL HOCKEY LEAGUE 
Chicago— S igned C DmIM Nabokov to a 
muHV-yearcontraU. 


DENNIS THE MENACE 



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F»:+ 33 (0)1 41 43 9370 
or your nearest £HT office 
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PEANUTS 


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|aw big brother 

SO DEPRESSED.. 


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LINUS SAV5 TO KEEP THE 
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BEETLE BAILEY 



CALVIN AND HOBBES 


I'VE HAD ENOUGH OF THIS 
51 LIN AMNESA GAME. 
SINCE NOO WONT SKIP tT. 
GCm, TO BESS, jS 

ifcu CAN \n ME WOl IF 
N0U WANT TO BE SERIOUS 

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PAGE 24 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY MARCH 26, 1997 


OBSERVER 


^4 Lesson in Etiquette 


By Russell Baker 


W ASHINGTON — In 
this nightmare I am ap- 
pointed to run the CIA and 
Senator Richard Shelby is 
questioning me. I do well at 
first. 

The senator asks, “Do you 
think the CIA is a joke be- 
cause its agents are always 
being caught spying for other 
countries?” 

“Absolutely not-" 

Then, the question I've 
been fearing: die Alger Hiss 
question. It had been asked of 
Anthony Lake, the previous 
candidate for this job. 

Did Lake think Alger Hiss 
was guilty7 Lake did not reply 
with a firm "Yes!” Shelby 
then made life tedious for 
him, and Lake quit in a huff. 

Now Shelby becomes the 
nightmarish chairman and 
asks the question I have been 
dreading for years: 

“Are you soft on Alger 
Hiss?” 

I try evasion. “The Hiss 
case happened 50 years ago, 
sir. That's one-quarter of die 
entire life of our great Re- 
public. . 

“Are you or are you not 
soft on Alger Hiss?’ ’ 

It is useless to lie. * 'Soft on 
Alger Hiss, Mr. Chairman? 
Let me say. rather, I am soft 
on Lord InverchapeL 


□ 


"But for Lord Inverchapel 
you would find me still an 
insecure, blushing, bumbling 
social incompetent “ 

“Don't try to Inverchapel 
me,” snarls the chairman. 
“What’s it going to be? Soft 
on Hiss or hard on Hiss?” 

I decide to test the thesis on 
Senator Shelby. Like a man 


powerless to stop himself 

from w; 


i wading into quicksand I 
tell my story: 

“The year was 1947. 1 was 


an elected officerof the senior 
class at Johns Hopkins Uni- 
versity. Lord Inverchapel. the 
British ambassador, was 
coming to lecture. My high 
office required me to meet 
him at the reception before- 
hand. He would be accom- 
panied by a Hopkins graduate 
who had done well in diplo- 
macy: Alger Hiss. 

“Believe me, Mr. Chair- 
man, I was in tenor for weeks. 
What if I said something 
gauche to Lord Inverchapel? 
Suppose I used the wrong 
foric at lunch. 

“The terrible day arrived. 
So did Lord Inverchapel and 
Alger Hiss. What awesome 
figures they were. How pol- 
ished. How shabby was L 
How unpolished. 

“It was a stand-up recep- 
tion. We held plates bearing 
reception-type food. I re- 
member only the celery. His 
Lordship and Hiss ate as 
though eating upright was 
their way of life. 

“Then, catastrophe! As I 
watched in silent honor. Lord 
Inverchapel’s plate tilted and 
his celery fell to the floor. 

“The h umili ation of being 
witness to this social catas- 
trophe was unbearable. What 
would Lord Inverchapel do? 

“Still in shock, I watched 
Lord Inverchapel bend down, 
pick his celery off the floor 
and take a bite. Scales fell 
from my eyes: If British am- 
bassadors could casually pick 
up and chew spilled celery. I 
had been worrying about the 
wrong tilings. 1 have ever 
since been fond of Lord In- 
verchapel for freeing me of 
the social willies, and just a 
little soft on Alger Hiss be- 
cause he was pan of (hat lib- 
erating moment” 

At this. Shelby roars: * ‘Are 
you aware that Lord Inver- 
chapel was a British Social- 
ist?” I wake up screaming. 

New York Times Service 


‘The English Patient’ Struts Off With 9 Oscars 


By Lawrence Van Gelder 

New York Tones Service 


L OS ANGELES — “The Eng- 
lish Patient” a mesmerizing 
tale of love and betrayal set against 
the background of World War II in 
the deserts of North Africa and the 
devastation of Italy, dominated the 
69th Academy Awards in Los 
Angeles. 

The film, adapted by its director, 
Anthony Minghella, from Michael 
Ondaatje's 1 992 novel, won in nine 
of the 12 categories in which it had 
received nominations, including 
best picture. 

Its Academy Awards of Merit 
the official name of the Oscars, 
included the prizes for Minghella 
as director and for Juliette Binoche 
as best supporting actress, as well 
as for cinematography, art direc- 
tion, costume design, editing, 
sound and original dramatic score. 

The haul of the gold-plated 
statuettes put “The English Pa- 
tient” in a category of films that 
includes the 1958 musical “Gigi” 
and the 1987 epic “The Last Em- 
peror.” Only the 1961 musical 
"West Side Story," with 10 
Oscars, and the 1959 biblical 
drama “Ben-Hur," with 11, have 
won more. 

Standing between “The English 
Patient” and a sweep in the major 
categories were Billy Bob 
Thornton, who won the Oscar for 
best screenplay adaptation for 
“Sling Blade”; Geoffrey Rush for 
his portrayal of the troubled Aus- 
tralian pianist David Helfgott in 
“Shine.” and Frances Mc- 
Dormand, chosen best actress for 
her portrayal of a pregnant police 
chief in ‘ ‘Fargo. ' ' That snowbound 
film noir also won the brothers 
Ethan and Joel Coen the prize for 
best original screenplay. 

Before the ceremonies, the 
Academy of Motion Picture Arts 
and Sciences had announced that its 
Irving G. Thai berg Memorial 
Award, an honorary accolade for 
high level of producing, was to go to 
Saul Zaentz, producer of "The Eng- 
lish Patient” His previous Oscar 



AFP.Re 


Clockwise from left: Anthony Minghella. Cuba Gooding Jr., Juliette Binoche, and Geoffrey Rush and Frances McDormand. 


winners were "One Flew Over the 
Cuckoo's Nest” and ‘‘Amadeus.” 

The awards to "The En glis h Pa- 
tient” "Fargo” and "Shine" 


capped a year in which the major 
illywi 


Hollywood studios were pushed 
aside at awards ceremonies in favor 
of independent productions. 

If the night could be said to hold 
a surprise, it was the decision of the 
voters to award the prize for best 
supporting actress to Binoche 
ratheT than to Lauren Bacall for her 
portrayal of an overbearing mother 
in “The Mirror Has Two Faces.” 
Even Binoche said she was sur- 
prised. 

It was a night made notable by 
the endless “I love you's” and 
thanks delivered by Cuba Gooding 
Jr., who won the best supporting 
actor award for his portrayal of a 
professional football player in 
*' Jerry Maguire." 

There were also ovations for the 


former heavyweight champion 
Muhammad Aii and the pianist 
David Helfgott, who figured in two 
of the nominated films. 

Ali walked slowly to the stage 
after “When We Were Kings," 
about his 1974 heavyweight cham- 
pionship bout with George Fore- 
man in Zaire, won the prize for best 
feature documentary. 

The dim wined cartoon charac- 
ters Beavis and Bun-head made 
their debuts as presenters, deliv- 
ering the award for best achieve- 
ment in sound effects editing to 
Bruce Stambler for "The Ghost 
and the Darkness.” 

"Kolya,” a Czech production 
directed by Jan Sverak, won the 
prize for best foreign film. 

The Academy Award for best 
song went to "You Must Love 
Me,” written for “Evita” by the 
composer Andrew Lloyd Webber 
and the lyricist Tim Rice. 


“The En glish Patient” won the 
first of its awards for the best 
achievement in art direction, with 
Oscars for Stuart Craig for art di- 
rection and to Stephenie McMillan 
for set decoration. 

The award for best achievement 
in makeup was won by Rick Baker 
and David Leroy Anderson for 
“The Nutty Professor,” starring 
Eddie Murphy. The prize for best 
achievement in live action short 
films went to David Frankel and 
Barry Jossen for “Dear Diary.” 

Leon Gast and David Sonenberg 
won the Academy Award for best 
achievement in documentary fea- 
tures for their film about the Ali- 
Foreman championship fi ght 23 
years ago. 

The war of the worlds depicted 
in “Independence Day.” with its 
destruction of cities, brought an 
Oscar for the best achievement in 
special effects to Voiker Engel, 


Douglas Smith. Clay Pinney and 
Joseph Viskocfl. 

The Oscar for animated short 
films went to Tyron Montgomery 
and Thomas Stellmach tor 
“Quest” 

Jessica Yu was awarded the 
Oscar for best achievement in doc- 
umentary short subjects " for" 
"Breathing Lessons: The Life and 
Work of Mark O'Brien,” about a 
paralyzed writer who has lived for 
41 years in an iron lung. 

Rachel Portman won the Oscar 
for best achievement in music for . 
an original musical or comedy 
score for “Emma.” 

Michael Kidd, who created the 
dances fen: “Seven Brides for Seven 
Brothers,” “Guys and Dolls” and 
other musicals, received an honor- 
ary award for career achievement. 

An Oscar for scientific and tech-, 
nical achievement went to Imax 
Corp. for its large-format movies. 


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PEOPLE 




S O what has Michael Jackson named his 
son? Prince Michael Jr v according to the 
British celebrity magazine OK!, which is 
showing what it says are the first published 
photos of the month-old baby. OK! quoted 
the singer as saying he has been in bliss “24 
hours a day” since his wife. Debbie, gave 
birth Feb. 13. Asked why the baby shares the 
same name as superstar rival Prince, Jackson 
replied: “My grandfather and great-grand- 
father were both named Prince, so we have 
carried on the tradition and now we have a 
third Prince in the family.” Jackson an- 
nounced in November that Debbie Rowe, a 
nurse for one of his doctors, was six months 
pregnant with his child. The couple wed later 
that month. 


century artist Nicolas de Largilliere, found a 
buyer it fetched 365,000 francs. 


daughter in Boston to ensure her American 
citizenship. 


□ 


□ 


The Royal Academy of Music gave a 
former student. Elton John, a 50th birthday 
present — an honorary membership. The 
flamboyant rocker, whose birthday was 
Tuesday, studied piano at the academy in the 
1960s. Honorary membership is the" Royal 
Academy's top accolade. Other recipients 
include composers Richard Strauss, Felix 
Mendelssohn and Franz Liszt. John told an 
interviewer that now that be is 50, he is “one 
happy budgie" who just "wants to smell the 
roses.” 


The band Queenstyche says it is definitely 
not crossing over to country music. The 
Seattle-based band recorded most of its latest 
album, “Here in the Now Frontier,” in the 
country music mecca of Nashville because it 
was more convenient. “I’d like to say we 
went to Nashville because of die amazing 
musical influences of the place,” singer 
Geoff Tate said. “The truth is, our producer 
lives there and he wanted to be close to 
home.” 


cided to replace her with understudy Brittny 
Kissinger. They said Joanna failed to de- 
velop chemistry with the musical's co-stars 
and to captivate the audience. 


□ 


Hie latest impromptu role for Robin Wil- 
liams? Bartender. The actor/ccanedian with a 
flair for silliness visited Woods’s L Street 
Tavern in Boston, checking out the bar as a 
possible site for his latest movie, “Goodwill 
Hunting.” “Itwasagreatirigfat” said Jackie 
Woods, the owner of the tavern. “What a 
guy. what a guy. He went behind the bar. be 
put on a little show and served a few drinks 
and brought everyone in die place a drink.” 


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Michael Jackson with Debbie and Prince Michael Jr. 


The forced sale of furniture belonging to 
the bankrupt former French politician and 
soccer boss Bernard Tapie, who is cooling 
his heels in La Sante prison in Paris, netted 
4.2 million francs ($737,000) at auction. The 
best-selling items were a pair of Louis XIV 
marquetry chests of drawers, which went 
together for 980.000 francs. But at the auction 
of three of his paintings, only one, by the 18th 


Koo Stark has named her prince, and said 
some days he'll come and visit his new 
daughter. The American investment banker 
Warren Walker, 38, is the father of 5-day- 
old Tatiana, Prince Andrew’s old flame told 
Hello! magazine, according to this week's 
issue. "We’re not married and we don’t have 
a traditional home setup but we are united in 
our love for Tatiana.' she said. Stark, an 
American-born Londoner, gave birth to her 


Don’t mess with Little Orphan Annie. 
Joanna Pacitti, 12, who bas been dumped as 
the star of the Broadway revival, has sued, 
charging that her firing has caused her to 
suffer depression, headaches and other mal- 
adies. She is seeking unspecified damages 
from Macy's department store, which 
sponsored die casting. After being chosen, 
Joanna starred in 100 performances in six 
cities as the production geared up for its New 
York debuL On Feb. 24, the producers de- 


□ 


A little Handel, a little Bach and die 
twangy voice of Kenny Chesney. What did 
you expect at the wedding of a country star? 
T racy Lawrence cut his Moulder-length hair 
and even shaved off his mustache before 


saying “I do" to Stephenie Drew, a cheer- ^ 
s Cowboys. “I'll miss the 


leader for the Dallas 
girls,” she told People magazine. “I’ll miss 
60.000 people cheering. But it's time to move 
on.” 




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