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INTERNATIONAL 




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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


I Th® World’s Daily Newspaper 

^ Saddam 
Threatens to 
v Down U.S. 
Spy Planes 

V Omtoj^Eenchng Off Calls 
For Armed Response, 
Lets UN Handle Face-Off 

By Barbara Crosse tie 

New York Times Serv ice 

' UNITED NATIONS, New York — 
As the Iraqi government made its first 
slightly conciliatory statements Mon- 
day after five days of threatening to 
expel American weapons inspectors, 
the Clinton administration held firm to a 
policy of letting the Security Council 
it handle the confrontation, fending off 
• calls from Congress for a more bel- 
ligerent response to President Saddam 
Hussein. 

At the same time, however, the Iraqis 
£| appeared to threaten American U-2 spy 
B planes. The threat was made in a letter to 
H Richard Butler, who heads the inves- 
w qgatmg commission charged with dis- 
B 'arming Iraq. In the letter, Iraq’s rep- 
t> resentativc at the United Nations, Nizar 
n Hamdoon. said his country’s anti-air- 

V 'craft guns woe ready for the next U-2 
f flights, which support the weapons 

monitoring. 

: a Bill Richardson, the U.S. chief del- 
egate to the United Nations, called the 
rrt threat “irresponsible.” 

’ ^ - But the United States, which blocked 

r a_French proposal Friday to send a dip- 
i lqmatic team to Iraq to discuss the im- 
.1 passe, backed a similar mission appoin- 
ted Monday by UN Secretary -General 
Kofi Annan. Three envoys — an Al- 
gerian, an Argentine and a Swede — 
were expected to arrive in Baghdad on 
Tuesday. 

_ " International inspections of Mr. Sad- 

dam's remaining weapons programs 
were effectively suspended again Mon- 
1 day by the United Nations before they 
__ could resume after a five-day pause: The 
break came .when the Iraqis stopped a 
team of biological aims experts from 
visiting a suspect site because one of the 
ft experts was an American. 

" Twice in the last week, Iraq has barred 

Americans from entering the country to 

( join the Baghdad-based teams. 

See IRAQ, Page 4 

Off-Year Votes 
Test Issues for 
’98 Elections 

By Brian KnowJton 

Intcrnananal Herald Tribune 

WASHINGTON — A handful of off- 
year elections Tuesday may provide vi- 
tal clues on how issues from tax cuts to 
education to abortion will play in next 
year's full slate of U.S. congressional 
elections. 

The only gubernatorial races Tues- 
day, in Virginia and New Jersey, ap- 
{jpeared likely to turn on narrow local 
issues, reflecting the fact that the elec- 
tions come at a time of nationwide 
prosperity and general content. 

. A few high-profile ballot issues, most 
notably an Oregon initiative that seeks 
to repeal the legalization of doctor-as- 
sisted suicide, are also drawing keen 
attention. 

,As of Monday, the races in Virginia 
and New Jersey were considered too 

close to call. A congressional race in the 

Brooklyn-Staten Island district of New 
York, to replace Susan Molinari, a one- 

- time rising Republican star who quit to 

work for television, was also rated a 
toss-up. In the most important mayoral 
raw Mnvnr Rudolnh Giuliani of New 


London, Tuesday, November 4, 1997 


No. 35,669 


DIJON 

PARIS 



WU 1 & 1 U 1 ICIWViwv**, * . 

toss-up. In the most important mayoral 
race, Mayor Rudolph Gi ulian i of New 
York was expected to win, the only 
question being the size of the landslide. 

The Virginia race is seen as a par- 
ticularly instructive test of tactics that 
might be reproduced across the country 
next year. It pits two men, bom ex- 
ffpericnced in government and bothcon- 
V sidered moderate and competent, whose 
handling of the issues contrastea 

sharply. ... 

; James Gilmore 3d. the Republican 
candidate, is a former state attorney 
general who has built a strong campaign 
. around a single theme: a call to phase 
outthe state tax on cars and trucks, tm*. 

See VOTE, Page 4 

Newsstan d Prices 

: Bahrain 1.000 50 Malta — 

Cyprus— -C£ 1.00 

Denmark _14J» DKr Oman 1-2M OH 

Finland 12 JJ 0 FM 

Gtorattar £0.85 Rep. 

Great Mh-£ 0.90 

&ypt JEE 550 S. Afrtca-.R12 + v g’ 

Jordan 1250JD 

kenj® K. SH. 160 u.s. MO. M-^ 

\ Kuwait 7 oo FBs Zmbabwp— - ZimaSOJO 


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Truck Strike Freezes 
French Road Traffic 

Threat of Economic Paralysis Looms 
As Gas Supplies Start to Run Out 


HiiU-n lVatta-Dcvli’n 


Trucks blocking France’s A6 expressway at Villefranche-sur-Saone on Monday as the strike got under way. 

Economic Crisis Claims Thai Leader 

P rime Minis ter Chaovalit Resigns After Failing to Stem Decline 


By Seth Mydans 

New York Tones Service 

BANGKOK — Thailand’s prime 
minister announced his resignation Mon- 
day, becoming the first political casualty 
of Southeast Asia’s economic crisis. 

The government struggled to find a 
new leader as the country’s currency 
and stock market continued to fall 

Prime Minister Chaovalit Yong- 
chaiyurBafflset&rm ofifice-for justit- 
months and had failed to take control of 
either the government’s relentless in- 
fighting or the economy's rapid slide. 

A government spokesman said the 
nation’s fractious six-party coalition 
would ask a respected former prime 
minister. From Tinsulanonda, to step in 
to the job, after a leading member of the 
coalition turned it down. 

That coalition member, Chatichai 
Cboonhavan, leader of the National De- 
velopment Party, declined wbat appears 
to be an increasingly thankless job, 
pleading ill health. 

* ‘Everyone is forced to find a way out 
for tiie nation, so we hope that General 
Prem will accept this position because 
there is no one suitable for this position 
at the moment,” said the government 
spokesman, Prem Sak Piayura. 

[An official close to Mr. Prem told the 
International Herald Tribune before Mr. 
Chaovalit resigned that Mr. Prem would 


decline the office of prime minister if it 
were offered to him.] 

The inability of Mr. Chaovalit’s gov- 
ernment to take firm action in the face of 
tbe country’s worst financial crisis in 
decades is seen by economists and fi- 
nancial analysts as Thailand's primary 
economic liability. 

Though discontent had focused on 
Mr; Chaovalit, it is not clear that any 


•X‘.' • 



other Thai prime minister would have 
managed the situation much better. A 
political change now wifi clear the air 
and allow a fresh start, but whoever 
comes next will face the same chal- 
lenges that defeated Mr. Chaovalit. 

An old-school politician who cuts 
deals, helps friends and dodges tough 

See THAILAND, Page 4 


W m- 



SaLriui I jln/TTir FV*» 


Mr. Chaovalit, amid guards and reporters, arriving at a meeting Monday. 


By Barry James 

Iniemjtiv/kil HerM Tribune 

PARIS — Striking truck drivers laid 
siege to the nation's highway system 
Monday, throwing up at least 140 bar- 
ricades across major roads and at the 
entrance of fuel refineries and depots, 
threatening the country with economic 
paralysis and disrupting Iran spoliation 
over much of Europe. 

Authorities in scene districts imposed 
fuel rationing for all but priority and 
emergency vehicles, and gasoline sup- 
plies began running out in Paris and 
other cities after die strikers blockaded 
two-thirds of the country's refineries 
and depoLs. 

It was impossible to estimate how 
loug supplies at service stations would 
last, particularly in an atmosphere of 
rising uncertainty among consumers. 
Officials at the 'international Energy 
Agency would say only that France’s 
fuel reserves were a state secret, and 
spokesmen at the Economy and Trans- 
port ministries said they were unable to 
estimate how long the country could 
hold oul 

Riot police avoided confrontation in 
most areas but cleared border crossings 
into Spain and Germany without vi- 
olence or arrests. 

Although France was under pressure 
from neighboring countries to keep high- 
ways open, observers said there was little 
likelihood of the government sending in 
police to clear the" roads since this would 
engender sympathy for the strikers. 

“The drivers* grievances do not lack 
justification,” said La Tribune, a busi- 
ness newspaper. “They are popular be- 
cause they work hard for meager pay.” 
It said the European Union should in- 
troduce laws to regulate the industry. 

A spokesman for Force Ouvriere, one 
of the unions involved in the strike, said 
there had been a few minor incidents 
between police and strikers. “They 
know we are determined and that any 
attempt to move the blockades would be 
resisted with all our strength,” he said. 

Foreign truckers took matters in their 
own hands ai Villefranche-sur-Saone, 
on the main north-south highway, near 
Lyon. About 400 Spanish and German 
truck drivers battled with about 40 
French strikers and forced a passage. 
Nonstrikmg French track drivers took 
advantage of the breakthrough to get 
through the barricade, which was later 
re-established. A striker was taken to the 
hospital with what police described as 
serious head injuries. 

Hundreds of foreign trucks remained 
trapped behind the barricades, and huge 
traffic jams developed as the strikers 
allowed private cars to filter through 
their barricades one at a time. 

The government, facing its first major 
test of strength with labor unions, sought 
to bring the unions and employers back 
to the negotiating table, but appeared to 


Salesman and Statesman , 
Mahathir Means Business 


AGENDA 

3% Dow Jump Tops Off Global Rally 


By Thomas Fuller 

In ternational Herald Tribune 

KUALA LUMPUR — At a gathering 
here Monday of leaders from 16 de- 
veloping countries, Malaysia’s out- 
spoken prime minister, Mahathir bin 
Mohamad, unleashed another of his pat- 
ented tongue-lashings on the evils of 
foreign currency traders and globalized 
financial markets. 

But an hour later, Mr. Mahathir was 
selling cars, furniture and television 
sets. , „ „ 

President Hosni Mubarak of Egypt 
was offered a seat behind the wheel of 
Malaysia’s national car and President 
Alberto Fujimori of Peru was shown 
samples of machinery 

Malaysian companies displayed their 

projects in Africa and Asia -7 
everything from their $38 million oil 
project in Algeria to the install- 
ation of telecommunications in- 


frastructure in southern Africa: 

Also on full display was Mr. Ma- 
hathir in his twin roles as spokesman for 
a certain view of the world and salesman 
for Malaysia. Both of these roles have 
bran rewarding for the prime minister 
and his country in the global economy. 

Mr. Mahathir ’s high profile has helped 
triple the country’s exports to developing 
countries since 1990, when the prime 
minister invited the leaders of the de- 
veloping world to Kuala Lumpur to dis- 
cuss problems they had in common. 

The leaders here Monday were hold- 
ing the seventh annual summit meeting 
ofthe Group of 15 developing countries, 
their answer to tbe Group of Seven 
industrialized countries, or G-7. The G- 
15 groups Algeria, Argentina, Brazil, 
Chile, Egypt, India, Indonesia, Jamaica, 
Malaysia, Mexico, Nigeria, Peru, Sen- 
egal, Venezuela and Zimbabwe. Kenya 

See MALAYSIA, Page 4 


numbered dec liners by a 4-to-l ratio 
on the New York Stock Exchange. 

“Fear has shifted to greed,” said 
Robert Stovall, president of Stovall/ 
Twenty-First Advisers Inc. "Some 
investors wish they’d bought more 
aggressively last week. Those who 
said they had too much exposure to 
stocks are now saying they don’t have 
enough.” Page 12. 


PAGE TWO 

Poland's Proud Coal Miners 

THE AMERICAS PtgsX 

The Problem of a "Budget Surplus 

EUROPE Page 5. 

V-K. Won't Press Au Pair Protest. 


Books Page 7. 

7674.39 7442.06 Crossword Page 18. 

Opinion.. — Pages 8-9. 

change MoncbyCMPM pwtesdose Sports Pages 1 8-1 9. 

+24.32 938.94 914.82 


The IHT on-line www.iht.com 


U.S. blue-chip stocks notched their 
third-biggest point gain ever, follow- 
ing through cm a rally in most Asian 
and European markets that bolstered 
hopes that the global market sell-off 
had bottomed. 

The Dow Jones industrial average 
dosed up 232.31, or 3.12 percent, at 
7,674.39. The broader market also 
gained, with advancing issues out- 


The Dollar 


NewYoric Monday 0 4 P.M. pravMU&dOM 


Belgium’s Dark Side: A Cellar of Bones 


By Roger Cohen 

New York Times Sennet 

BRUSSELS — Belgium is a habitually placid country, 
not much given to angst. But the steady, stream of human 
body parts that has been emerging from die cellar of an 
eldCTly pastor’s house has renewed national questioning 
about Belgium’s dark side. 

Eurocrats, as the officials of the European Union are 
known, still go about their business, in this city, and toe 
Brussels subway remains one of the safest places on earth. 
But rust what Antons Pandy, a Protestant pastor, tod here 
wito two former wives and four of his children has become 
the talk of a country that is growing uncomfortably familiar 

with the macabre. _ , . , , 

r, is just over a year since Belgium was shaken into 
unusual and widespread protest by toe judicial ineptitude 
and police corruption that allowed Mare Dutroux, a con- 
victed child rapist and child pomograpber, to lure at least 
four girls to their deaths after his pnson sentence was cut 


short for good behavior. Now toe discovery in central 
Brussels of bodies apparently dead at least seven years — 
and apparently belonging to members of the Pandy family 
whose disappearances were reported to toe police several 
years ago by one of Mr. Pandy ’s daughters — has again 
raised questions about the judiciary, toe police and indeed 
toe Belgian state as a whole. 

Since his arrest on Oct. 17 on charges of murdering six 
members of his family, toe story of Mr. Pandy, 71, has 
become stranger by the day. 

Belgian newspapers are full of stories of possible further 
killings by toe pastor, of human flesh in freezers and of 
possible incest. TTie police are looking into whether he may 
have been linked to a prostitution racket, seen as a possible 
source of toe wealth that enabled him to buy three large 
bouses in Brussels and one near Budapest. 

Mr. Pandy has denied all the charges and insisted that 
the missing family members abandoned him. Jos Colpin, a 

See BELGIUM, Page 5 



Wtftam/AtMK* h wn c tVn amt 

Andras Pandy, left, and a po- 
liceman in Brussels on Monday. 


be avoiding a direct confrontation with 
the strikers. The strikers also appeared 
anxious to avoid violence. 

Police in riot gear ordered toe strikers 
to clear bonier crossings into Spain, at 
Biratou, near Iran, and into Germany, as 
Strasbourg. The truck drivers obeyed, 
but threatened to set up barricades 
farther away from the border. 

The strike was likely to have a rapid 
effect on automobile and other indus- 
tries that depend on just-in-time de- 
liveries. Renault said it would have to 
start laying off workers Tuesday be- 

See FRANCE. Page 4 


Jiang Raises 
His Status in 
Beijing and 
Washington 


By Seth Faison 

New ll»rt 7iwf5 Swiff 

LOS ANGELES — Jiang Zemin got 
what he wanted. 

China's president, who wrapped up 
an eight-day visit to the United Stales by 
touring a satellite plant and meeting 
local leaders in Los Angeles, came to 
America to bolster his image as a states- 
man and as a modem-minded leader 
interested in education and technology. 

From toe Chinese point of view, he 
succeeded in grand style. 

Formally, Mr. Jiang's intention was 
to strengthen China-U.S. relations, de- 
spite essentially intractable differences 
over Taiwan, trade and human rights. It 
helped that Mr. Jiang announced a S3 
billion purchase of Boeing aircraft and a 
promise to control nuclear exports, and 
Chinese and American officials each 
stressed toe value, ethereal as it may be, 
of simply holding meetings. 

“The visit achieved the goal of en- 
hancing new understanding,’’ Mr. Jiang 
said Sunday, “broadening common 
ground, developing cooperation and 

NEWS ANALYSIS 

building a future together, thus bringing 
China -U.S. relations into a new his- 
torical stage of development." 

More important, however, was the 
informal goal of making Mr. Jiang look 
good, both to U.S. audiences and back in 
China. Mr. Jiang's general stiffness and 
bland bearing as a politician gave way to 
moments of humor and relaxed con- 
fidence, as he spoke broken but charm- 
ing English and ignored a steady trail of 
protesters and occasional snubs from 
local politicians. 

On the critical question of human 
rights, Mr. Jiang played it both ways. In 
Washington, he reaffirmed the official 
position that China handled the crisis 
around Tiananmen Square in 1989 ap- 
propriately. 

At Harvard University, however, Mr. 
Jiang gave a roundabout answer to a 
question about the use of troops to crush 
the student-led demonstrations, the first 
time he has appeared willing to soften 
his stance in even a minor way. 

His answer seemed deliberately am- 
biguous. Rather than repeat the official 
position, as he could have, Mr. Jiang 
gave a long description of the gov- 
ernment’s efforts to accept pnbUc com- 
plaints, commenting at the end that its 
work in this regard was imperfect. 

“It goes without saying that, nat- 
urally, we may have shortcomings and 
even make some mistakes in chit work," 
Mr. Jiang said. 

By sounding unyielding in Washing- 
ton, essentially warning the United 
Slates not to meddle in Chinese affairs, 
Mr. Jiang acted as tough as any patriotic 
Chinese might demand. Yet his use of 
the word “mistakes" in connection 
wito Tiananmen allowed him to suggest 
to a larger audience that a breakthrough 
on toe issue might lie ahead. 

“This is a beginning of a reassessing 
of Tiananmen," said Wang Chi. a pro- 
fessor of Chinese studies at Georgetown 
University, referring to the political pro- 
cess that many scholars feel is inev- 
itable, even if a formal apology by toe 
Chinese government on the issue may 
be years away. 

Mr. Wang said that members of Mr. 
Jiang's staff told him earlier in the week 
that toe speech at Harvard would con- 
tain something “interesting" about hu- 
man rights, suggesting that Mr. Jiang’s 
comment was well-planned. 

When Mr. Jiang gets back to Beijing, 
he will probably also point to the Amer- 
ican position on Taiwan as an area of 
success from this trip, though officials 
in Washington say they have not 
changed their position in any way. 

As described by China’s foreign min- 
ister, Qian Qichen, the American side 

See JIANG, Page 4 








INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 



PAGE TWO 


Social Time Bomb / Silesian Pits a Drag on Hie Economy 

Poland’s Proud Coal Miners Resist Change 


By Jane Perlez 

New York Times Service 

L IBIAZ, Poland — After spending more 
than six; hours, day after day. a mile and a 
half underground, Darek Ptak emerges, a 
fine gray powder streaked across bis fleshy 
face, a hard hat cocked back on his head, and 
considers himself a lucky man. 

In Poland's hugely inefficient coal mines, where 
the glory days of model Communist workers and 
Solidarity’s battling union are over. Mr. Ptak, 3 1, is 
relieved just to have a job. 

But if Poland's new government — an odd mar- 
riage of admirers of Margaret Thatcher and uni- 
onists — has the courage to carry out its stated 
program, more than 80,000 miners like Mr. Ptak 
will lose their jobs in the next several years. 

The coal mines of Silesia are one of die biggest 
drags on this country’s booming economy and one 
of die last redoubts of unreformed industry in Po- 
land, which threw off communism in 1989. But 
Silesia is also a social time bomb — nearly 7 million 
people in the industrial heartland in southern Po- 
land. where big swipes at die coal mines could cause 
economic and psychological quakes 
across cities, towns and villages. 

The new finan ce minister, Leszek 
Balcerowicz, has stressed the need 
for restructuring the mines. Indeed, 
his chief assistant, Jakob 
Kamowski, 23. has just completed 
his thesis on Mrs. Thatcher, who 
broke the British coal miners, and 
the welfare state in Britain. He con- 
cluded that the British prime min- 
ister did right 

“There are similarities between 
Poland and the United Kingdom in 
the Thatcher period," he said, set- 
ting a tone for the coming turbulent 
debate in Poland. “There are the 
poor conditions of the min es in both 
places and the power of the miners. 

Arthur ScargiU had big political 
power as die Solidarity trade unions 
do now." 

Mr. Kamowski was comparing the British trade 
union boss with die current Solidarity union leader, 
Marian KrzaklewskL But in contrast to Mr. Scargill, 
Mr. Kizaklewslri is a right-of-center politician who 
is the most powerful force in the new Parliament 
It is unlikely that the new government will be as 
rough with the miners as Mrs. Thatcher was in 
Britain. But few deny that changes are ahead. 

For generations. Poland’s miners were the ar- 
istocracy of the working class, reaping wages that 
were five times as high as other workers’ pay levels. 
Wages here are still nearly double the average. 
Miners earned so much that despite the require- 
ments under the Communist regime that women 
work, miners' wives rarely did. 

The mines, owned by the government, provided 
apartments, health clinics, vacation homes and 
sports centers, all nonproductive assets that some of 
the more efficient mines are now trying to selL 
Under successive governments over the last sev- 
en years, a number of mines have closed and 
through the retirement of workers, the labor force 
has b een sliced from 416,000 to 275,000 miners. 

But economists for Solidarity, as well as Mr. 
Balcerowicz, recognize that this is not enough — 
last year, the mining industry lost $730 million. And 
productivity is very low. In 1996s Poland produced 
5 1 3 tons of coal per miner while Germany produced 
741 and Britain 2.8 11. 

Most of the coal mined here is used for domestic 
energy. But to keep the bloated work force occupied 
and to lessen the risk of social unrest, Poland exports 
coal at below cost Salaries and social security 
payments account for 50 percent of the cost of 
Poland’s coal, according to the World Bank. 

There are also compelling environmental reasons 
for curtailing the mines. Scientists at an environ- 



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. ..tn-.-t - 

- \ > 
• - 


’ .?2v ' 

_ •'* -V 



For generations? Poland’s miners were the aristocracy 
of the working class, reaping wages that were 
five times as high as other workers 1 pay levels. 



mental conference this 
year said that three of Po- 
land’s largest mines 
pumped 5,000 tons of 
salt daily into the Vistula 
River, the country’s main 
waterway, making it one 
of the most polluted 
rivers in Europe. 

• NYT The heart of Mr. Bal- 
cerowicz’s argument is that the money now spent on 
hi gh wages and expensive pensions for men retiring 
in their early 40s should go to creating new jobs. 
This would ease the transition and soften the social 
disruption. 

“It will be a victory for Poland when we decide 
that instead of paying for warm slippers for retired 
miners we securejobs for their grandchildren,’’ said 
Narcyz Dudek. treasurer of the Janina min e in 
Libiaz, and a supporter of Mr. Balcerowicz. 

The Solidarity leader at the Janina mine. Stan- 
islaw Kumik, agreed with the treasurer. 

“There have to be incentives for businessmen 
who will hire former miners,' ' he said. “We have to 
reform. If there are no reforms the entire labor 
market in Silesia will collapse and the economy in 
other parts of Poland will be affected. Of course 
there are fears, everybody fears. We in Janina mine 
were afraid too. But our management was able to 
explain to us." 


H ERE IN LIBIAZ, about 50 kilometers 
southeast of Katowice, the majorcity of the 
region, the Janina mine is one of the few to 
make itself profitable, largely by investing 
in new equipment and reducing the work force from 
6,700 to 4,08 0, mainly by not replacing retiring 
miners. Jerzy Grzybek, the mine director, said he had 
applied Western management techniques to turn the 
mine around. But. he said he had run up against lots of 
roadblocks. The Janina mine belongs to a govern- 
ment-controlled holding company, and he stud there 
were limits to his independence. For example, he was 
forced to hire 50 miners last spring — Mr. Ptak, laid 
off at afailing mine, was among them — even though 
die Janina mine didn’t need them. 

A recent referendum among the workers at the 


Janina mine favored cutting ties with the holding 
company and making the mine an autonomous 
business. “But union headquarters was against it 
because they said making the mine independent 
would cut the union’s influence," Mr. Grzybek 
said. 

As Mr. Ptak walked toward the showers at die end 
of one recent workday, his attitude exemplified the 
Silesian motto: Once a miner, always a miner. 

An electrician who went into mining 13 years 
ago, Mr. Ptak is still quite young. He is now at his 
third mine. The other two were losing so much they 
were in the process of closing, he said. 

Despite this bleak picture and the fact he has a 
marketable trade as an electrician, Mr. Ptak is 
reluctant to leave. “It would not be very nice to look 
for another job," he said. 

He is not alone. Silesia is set to become a new 
automobile manufacturing center for Poland, but so 
far miners have shown little interest General Mo- 
tors received 27.000 applications for 2,000 jobs at 
the plant due to open at Gliwice, near Katowice, 
next year. Very few of the applicants were miners, 
said Zbigniew Lazar , a spokesman for GM in Po- 
land. 

The leadership of the new government comes 
from Silesia: the prime minister, Jerzy Buzek, is an 
industrial engineer from Gliwice. Mr. KrzakJewslti 
and Mr. Balcerowicz, the two polar ends of die new 
coalition, won their parliamentary seats in-Silesia. 

.To the surprise of many., Mr. {fotioerowicz, who 
engineered Poland’s harsh economic policies in the 
early 1990s that set the country on the road to its 
current 6 percent annual growth, received more 
votes than the union leader. 

These men acknowledge that Poland’s overall 
economic health depends on cutting the mine Josses. 
But do they have the political stomach? 

Mr. Kamowski stresses that Mrs. Thatcher acted 
early in her tenure so she had time to regroup for her 
re-election. The Polish government does not have 
long to move, he said. 

“The first six months or year of this government 
is a unique opportunity.” he said. “We are not rich 
like Britain or other Western countries. We have to 
destroy the economic burden of the welfare 
state." 


Climatologists Agree: 
World Will Get Hotter 

Doubling of Carbon Dioxide Levels Nears ■-. 


Dozens Die as Storms Hit Vietnam and Islands 


By William K. Stevens ■ 

New York Times Service 

BONN — Climate expats have 
warned for years that a doubting of heat- 
trapping carbon dioxide in the atmo- 
sphere could have serious consequences 
worldwide. Now a growing number of 
scientists and policymakers say it will 
be difficult if not impossible to avoid 
such arise. 

The reason, they say, is that the 
world's economic and political systems 
cannot depart from business as usual 
rapidly enough. 

In a metaphor that acquired some 
currency at talks on global wanning, 
which ended inconclusively here Fri- 
day, it is like trying totumasupertanker 
-in a sea of syrup. 

Carbon dioxide is emitted by the 
burning of coal, oil and natural gas. 
These fuels are an integral part of the 
modern economy and weaning the 
world from them has always beat ac- 
knowledged as a difficult task at best. 

In the long debate over global warm- 
ing, a doubling of carbon dioxide from 
pre-industrial levels in the 19th century 
has been a frequent object of analysis 

and anxiety. 

Mainstream climatolo gis ts say that 
such a doubling would raise die average 
surface temperature of the globe any- 
where from a moderate 3 degrees 
Fahrenheit (1.6 degrees centigrade) to a 
potentially catastrophic 8 degrees, dis- 
rupting die Earth’s climate and causing 
the seas to rise because polar ice would 
mek. By comparison, the world has 
warmed 5 to 9 degrees since die depths 
of the last ice age, about 18,000 to 
22,000 years ago. 

While there are dissenters, a growing 
number of scientists and policymakers 
now say that a doubling may be un- 
avoidable late in the next century. This 
is so. they say, despite whatever steps to 
limit emissions erf die gases emerge 
from the international talk* that were 
held here and will conclude in Kyoto, 
Japp, early in December. 

For the most part, attention until now 
has focused on die next two decades or 
so, in the belief that the most important 
thing is to make a start in reducing 
emissions. But it is widely agreed, based 
on proposals on the table, that any action 
emerging from the Kyoto meeting will 
be insufficient to prevent an eventual 
doubling of greenhouse gases. 

The proposals outline a range of rel- 
atively modest reductions by industri- 
alized countries, none of which are 
enough to prevent overall atmospheric 
concentrations of carbon dioxide from 
continuing to rise. 

“What Kyoto will do, almost pre- 
dictably, is produce a small decrease in 
the rate of increase," said Jerry Mahl- 
man, director of the National Oceanic 
and Atmospheric Administration’s 
Geophysical Dynamics Laboratory at 
Princeton University. 

Doubts about the long term are forcing 
people to pay more attention to a basic 
but long-deferred policy question: What 
should be the ultimate goal in stabilizing 
carbon dioxide concentrations? 

If the experts’ new fears are borne 
out, a rough doubling of carbon dioxide 
concentrations, or perhaps a bit less, 
may be the best to which the world can 
aspire. 


WEATHER 


Under the most likely outcome, this . 
could mean a rise in sea levels that, 
would inundate low-lying coastal areas . 
ami small island nations, more frequept, 
and severe floods and droughts, a shift t 
in climatic zones and disruption of UStt- 
ural ecosystems. 

Not everyone agrees that a doubling 
is inevitable. 

Atmospheric carbon dioxide is now 
about 360 pans per million and envy?, 
onmentalists say it is possible and nec- - 
essary to stabilize concentrations at 450 , 
parts per million by volume — about one 
and a half times the pre- industrial con- 
centration of 280 parts per million. - ■ a 

This, according to a study by the p 
Environmental Defense Fund, would. 1 
limit the global temperature increase to 
1.5 to 2 degrees Fahrenheit over the next 
100 years. 

The estimate assumes that the ch- 
mate’s sensitivity to carbon dioxide isjn 
the middle of the range implied by: 
mainstream scientists' conclusion that a - 
doubling would produce a warming o£3 , 
to 8 degrees. 

At 450 parts per million, if the can- ■ 
viroomentalists are right, the total teen- ; 
perature increase by 2100 would be; 
about 2J> to 3 degrees- This would still • 
make the world wanner than at any time ; 
in the last 10,000 years, and some fin- * 
ther warming would occur after 2100. ■ , J 

Virtually nobody believes it is pas- 1 m 
sible to stabilize atmospheric concep- ~ 
(rations below 450 pans per million, and : 
a number erf experts say it will be vejy 
difficult if not impossible to stabilize 
them even at 550 pans per million, the . 
next plateau on which some policy-; 
makers are beginning to focos. ;« - 


Russian Space Dog 

Is Having Her Day\ \ 

’ « 

The Associated Press - 

MOSCOW — Russian space scr-* 
entists unveiled a plaque here Mon-' 
day to mark the 40th anniversary of* 
the first living creature sent intt£ 

r ce — T-aika, a mongrel dog whc£ 
1 during the famous flight. 
Laika. a stray found on the streets' 
of Moscow, titerally rocketed to 
fame aboard a Soviet spaceship 
Nov. 3, 1957. The flight came onljf, 
a month after Moscow launched the? 
space race by putting into orbit the? 
first man-made satellite. Sputnik. ■’ 
Laika’s spacecraft bad no d?s> 
cent capsule, and sHci.lbt^bepl, up 
along with the satellite' as it re-; 
turned to the Earth ’sstatespbere.;- 
The plaque by scientists at . the 
Institute for Aviation and Space; 
Medicine commemorates the con- 
tributions of Laika and other oaf. 
finals studied in the space program* 
the Russian press agency Itar-Tass- 
reported. 


Correction 

A Washington Post dispatch from: 
Moscow on the summit meeting be-; 
tween President Boris Yeltsin and- 
Prime Minister Ryu taro Hashimota of j* 
Japan carried an incorrect byline. It was “ 
written by Daniel Williams. 


The .-to xociuictl Press 

HO CHI MINH CITY — Powerful 
storms have struck Vietnam and several 
Pacific islands, killing dozens of people 
and sinking hundreds of fishing boats, 
the authorities said Monday. 

A tropical storm, designated Linda, 
struck Vietnam early Monday with 
winds of more than 130 kilometers an 
hour, while over the weekend a typhoon 
hit the Northern Mariana Islands and a 
cyclone ravaged the northern part of the 
Cfook Islands. 

The storm hit Vietnam's southern 
coast, sinking at least 200 fishing boats 
and leaving 1,150 other boats missing, 
officials said. 

The exact death toll was not known, 
but authorities said “dozens were con- 
firmed dead." That estimate was likely 


to rise — perhaps into the hundreds — as 
rescue crews recovered capsized and 
damaged boats. * 

Thousands of families were left 
homeless after the storm swept across Ca 
Mau Province, destroying 13,000 clap- 
board and mud homes, a government 
official said. 

Vietnam’s Meteorological Office said 
the storm had moved across the southern 
tip of Vietnam and was heading into the 
Gulf of Thailand. 

In anticipation, an American com- 
pany drilling for natural gas began evac- 
uating more than 800 people from rigs in 
the Gulf of Thailand. 

Unocal Thailand suspended all 
drilling operations Saturday and used 
helicopters to move the employees to 
safety, a news release said. 


In the Northern Mariana Islands, au- 
thorities reported no injuries from a 
typhoon Sunday that hit the Western 
Pacific island chain. 

The typhoon, called Keith, brought 
high winds as it passed between the 
islands of Rota and Tinian. On Rota, the 
winds ripped off the tin roofs of gov- 
ernment buildings and houses, leaving 
13 families homeless. 

There were no immediate reports 
from officials who went to assess the 
damage on Tinian, which took the brunt 
of the storm, said Frank Eliptico of the 
Emergency Management Office. 

In the northern pan of the Cook Is- 
lands, at least three people were killed 
and 20 were missing after a cyclone 
struck low-lying atolls Saturday in the 
South Pacific, the authorities said. 


US Dollar Up or Down? 

US Dollar Policy Will Generate 
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TRAVEL UPDATE 

Munich: A 36,525-Liter Beer Bash 

MUNICH (Reuters) — Germany’s largest and most famous 
beer hall, the Hofbraeuhaus in Munich, celebrated its 1 00th 
anniversary Monday with a bash featuring deeply discounted 
beer prices and Bavarian brass bands. 

The cavernous beer hall was offering 36,525 liters of 
specially brewed Hofbraeuhaus beer at near-giveaway prices 
— one liter for each day of the last 100 years. 

Flash floods caused a train to derail Monday near 
Cordoba in southwestern Spain, injuring four people! (AP) 

Air traffic controllers in Ghana have gone on strike, but 
aviation officials said they had hired replacements to ensure 
flights operated normally. (AP) 




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Forecast for Wednesday through Friday, as provided by AccUWeather. 



North America 
Cool and unsettled wash- 
er wiu t» me rule across 
the Midwest and Lakes 
region with clouds and 
showers drifting eastward. 
The Plains and the South- 
west will be sunny and 
warmer than normal. 
Clauds and a isw showers 
will dampen ihe Pacific 
Northwest 


Europe 

Northern Spain, France 
and England wjn be windy 
with soaking rain Wednes- 
day. then turning cooler 
wftn some sunshine by Fri- 
day. A slow-moving front 
wtt bring rain, some pass/- 
heavy- » the Balkans. 

Indy and milder with 
increeamg douas in Russia 
and ths Ukrahsi 


Asia 

Cool across northern 
Japan with a taw showers, 
but Tokyo win be partly 
stsmy. dry and seasonably 
mild. Bowing and most of 
eastern China will be dry 
with plenty of sunshine. 
Sunny and dry in nonhem 
pens of Vietnam and Laos, 
but showers wiB be along 
the south coast of China. 


Today 

High UrerW 
OF OF 

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W 34/93 IBttSa 

Bsntfnfc 28*2 2373r 

Ba#ng 1089 3/37 1 

Bomo»y 3S» 21/7Da 

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Colombo. 27790 23/73 r 

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Hong Norg 23 m 18/BI • 

tMrafced 3108 949 s 

Mm its 32/® 23/73 pc 

Karacrt 3986 1604* 

K-Luieur 31/B8 23/73 r 

K. Kkwbsfcj 20/84 23/73 r 

Mania 31/88 22/71 r 

TtowMW 31/88 M/EE’s 

Phnom Pw* 29/84 23731 


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at anon. Hca, W Wswhsr. 

AB maps, foments ana dn pnwktod by AemMtoatosr, me.© 1687 


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TaW 24/75 HWir 

Tokyo tans 13166 ■ 

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North America 

AnAnga 395 -377 I 

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Sown ta/s$ SMI oh 

Chicago 4/38 -1/31 c 

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Dam 2098 1/31 1 

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MtiW 2*78 1898 pc 

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Ucnreal SMfi tMXah 
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17*2 11/55 c 
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INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 


& 


PAGE 3 


THE AMERICAS 


■ 'l 

^ * Budget Surplus Bums a Hole in Lawmakers 9 Pockets 


« 1 1 


, i- By Richard W. Stevenson 

'•ty New Tort Tines Servio 

WASHINGTON — After de- 
cades in which huge federal budget 
deficits cast a shadow over politics 
ahd.the economy. Congress and the 
>• House face the possibility 

mat the government will begin run- 
ning surpluses in the next few years 

and already a heated debate is break- 
ing- out over what to do with the 
money. 

- Many conservative Republicans 
want to dedicate all or most of any 

stiluses to paying down the moun- 
tain of debt accumulated over de- 
cades of wars, recessions and fiscal 
profligacy- Other Republicans are 
pushing for tax cuts. 

Members of both parties are 
-eagerly promoting more spending 
.. . $ on' roads. bridges and other polit- 
ically appealing construction proj- 


ects. Many Democrats fcgn toward 
additional spending on education 
and health programs. 

White House officials and mem- 
bers of Congress are pondering how 
surpluses could help address the 
looming shortfall in financing for 
Soda! Security retirement benefits 
and the Medicare system of health 
insurance for the elderly. 

That the debate is taking place at 
all strikes some officials as prema- 
ture, given that the budget deficit, 
while falling rapidly, has not been 
eliminated, and may never be if the 
economy falters. Even if the econ- 
omy remains robust, just talking se- 
riously^ about surpluses could erode 

budget into balance, they said.** 

“We need to stop hyperventil- 
ating and complete the job of bal- 
ancing the budget.” said John 
Kasich, Republican of Ohio, who is 


chairman of the House Budget 
Committee. 

The rapidly improving fiscal situ- 
ation has nonetheless opened die 
door to a wide-ranging consider- 
ation of policy and political pri- 
orities as the glow of prosperity is 
beginning to alto- die way official 
Washington addresses the nation’s 
long-term problems. 

The deficit for the government 
fiscal year that ended Sept- 30 was 
S22.6 billion, its lowest level since 
the early 1970s. If the economy re- 
mains strong, many analysts say, the 
budget could show a surplus within 
the next several years and continue 
to do so for years to come. 

“For 15 years or more the most 
Important question yon could ask 
about a public policy idea was what 
its effect was going to be on the 
budget deficit,** said Franklin 
Raines, the White House budget di- 


rector. “Now you have to ask what 
an idea’s contribution to the country 
is going to be and how does that 
compare to other options.'* 

In its broadest terms, the debate is 
dominated by two camps. One con- 
siders reducing the national debt to 
be the best use of any surplus, liken- 
ing the nation’s fiscal condition to 
drat of a consumer who has learned 
not to abuse a credit card but still 
must muster the discipline to pay off 
the card’s balance. The national debt 
is $5.3 trillion, and interest pay- 
ments on it account for 15 percent of 
all federal spending. 

The ocher camp believes chat 
there are more pressing uses for the 
money, from tax cuts to transpor- 
tation projects to higher defense 
spending to improving school sys- 
tems and access to medical ore. 

“Maintaining a surplus for use in 
reducing the national debt is good 


policy but bad policies.'* said Robert 
Reischauer, a fellow at the Brook- 
ings Institution in Washington and 
former director of the Congressional 
Budget Office. 

“It would help increase the p 
ductivity of the work force ana 
tional living standards, help k< 
interest rates down and significantly 
reduce the fraction of the total 
budget chat goes to debt service,” he 
said. “But those types of benefits 
are very distant ana diffuse, and 
politicians want concrete rewards 
and immediate ones. So it's natural 
for this debate to begin, and it's 
likely to intensify.” 

The White House has taken a hard 
line against using any unexpectedly 
high tax revenues to finance any 
programs before the budget is bal- 
anced. But officials have begun 
meeting to discuss how to use any 
consistent surpluses. 



»!! 


JTOPPED BY A TWISTER — Homes in New Smyrna Beach, Florida, after a 
tornado tore through the seaside community Sunday, damaging 300 build- 
ings, injuring 32 people and knocking out power to thousands of residents. 


Away From Politics 

• A 45-year-old New York City fisher- 
man was swept away and four of his com- 
panions were injured when their boat cap- 
sized off the Rockaways, the police said. 
The accident took place on seas with 8- to 
10-foot waves, the aftermath of a weekend 
jtorm that swept through the region. (NYT) 

"• An 11 -vear-old boy called the police in 
'Spokane,' Washington, from a cellular 
phone and said: “I’ve been shot, and my 
mom shot me,” the authorities said. The 
police officers who responded to the call 
found a 31 -year-old woman and a 6-year- 
old boy shot to death inside a car. The 11- 


year-old was in serious but stable condition 
with a gunshot wound to the chest. (AP) 

• At least four people were being sought 

for releasing an irritating chemical inside a 
Wal-Mart store in B arbours viUe, West Vir- 
ginia. The chemical sent 32 people to hos- 
pitals and shoppers fleeing for fresh air. The 
authorities said surveillance video cameras 
recorded the suspects, wbo were believed to 
have sprayed the chemical from aerosol 
cans in six locations around the 24-bo ur 
store, forcing its closure for about eight 
hours. {AP) 

• A fire broke out in a 10-<story Detroit 

apartment building, killing three people and 
injuring several others. (AP) 


*2d Oklahoma Bomb Trial Opens 

Prosecutor Vows to Link Nichols to Planning of Blast That Killed 1 68 

R»ut*rt oeoDJe. including 19 children, Mr. Nichols, wearing 


Reuters 

; DENVER — Federal pros- 
ecutors began laying out the 
evidence Monday in the 
murder and conspiracy trial 
of Terry Nichols, telling the 


people, including 19 children, 
and wounded more than 500 
others. 

“Terry Nichols was a long, 
safe distance from the blast, 
just the way be had planned 


Mr. Nichols, wearing a 
blue blazer and turtleneck 
sweater, listened to the pros- 
ecutor intently. 

The defease attorney, Mi- 
chael Tigar, whose opening 
statement began after the 
prosecutor’s, was expected to 
argue that Mr. Nichols was 
nor part of Mr. McVeigh’s 
bombing plan and to hammer 
home the fact that Mr. Nich- 


of Terry Nicnots. leumg uic ju« --v — 
jury he was responsible for it." the prosecu tor toft t he 12 

aissstssssa J "^&s 

ofnfs whCT “ tap - 

3K*3ik"S^- 

“m* P>“ — themoreiHgonhebl^. . 

%%$£$£**£■ ^Nichols, 42. faces the 

crack bomb exploded murder charges as tos army 
Son April 

^ prosecutor Lany MadBy. ”^ mdea4 n d^Mer. 

^SmltMr^tSo^^elped Prosecutors say both men 

tayandUde £e bomb's^ JHiSKW-TS 

gtiients. stole money ■ ifi- J^SSdtaSfia- 
nance the plot and stashed Bw*n i uavruran 

.W$arss is skssa-ss.-* 


c UiUi Ulllg UIV 

The prosecution said the 
government has significant 
physical evidence connecting 
Mb’. Nichols to the bombing. 


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Ban in California Holds Up 

Justices Bar Appeal of Anti-Affirmative-Action Law 


The Associated Press 

WASHINGTON — The 
Supreme Court on Monday 
rejected a challenge to Cali- 
fornia’s Proposition 209, the 
measure that bans a person's 
race or sex from being a factor 
in stale hiring or school ad- 
missions. 

The court, disregarding ar- 
guments by a coalition of civil 
rights groups, let stand a ruling 
ihai said me anti-affirmative- 
action measure did not violate 
anyone's constitutional rights. 

The Supreme Court's de- 
cision, which was made with- 
out comment, does not set any 
national precedent, but it 
could encourage voters in 
other states to adopt similar 
measures. 

Michael Carvin, a lawyer 
for some backers of the mea- 
sure. said be was * ‘gratified 
but not surprised that the court 
has rejected the other side's 
bizarre argument that ending 
racial discrimination is some- 
how discriminatory.” 

The 9th U.S. Circuit Court 
of Appeals ruled in April that 
Proposition 209, adopted by 
referendum in 1996, was a 
neutral measure that pro- 
moted equality . 

- But the appeal considered 
if y die court on Monday ar- 
gued that the measure releg- 
ated racial minorities and 
women to the status of second- 
class citizens in California. 

The measure, an amend- 
ment to the state constitution, 
says the state and local gov- 
ernments cannot “discrimin- 
ate against or grant prefer- 
ential treatment to any 
individual or group on the 
basis of race, sex, color, eth- 
nicity or national origin. ’ ’ 

Opponents of the measure 
told me court that it would 
block even those government 
efforts to enforce racial or sex 
preferences that are “permit- 
ted or required” by the U.S. 
Constitution. 

The amount of flexibility 
state and local governments 
have in such matters, the ap- 
peal said, “is one of funda- 
mental and nationwide social 
and political significance. 

The appeal said tile mea- 
sure sought “to lock shot" the 
window for action that past 
Supreme Court rulings had so 
“painstakingly left open.” 

“Proposition 209 leaves 


public universities free to 
grant admissions preferences" 
to “children of alumni, donors 
or friends of university offi- 
cials,” the appeal said. “Mu- 
nicipalities are free to grant 
hiring preferences to veterans 
or those with close political 
ties to local officials.” 

Only preferences based on 
race and sex would be 
banned, the appeal said. 

In that sense, the appeal ar- 
gued, the measure is as un- 
constitutional as a ballot ini- 
tiative in Colorado that 
banned laws to protect homo- 
sexuals from discrimination. 
In striking down the Colorado 
measure two years ago, the 
Supreme Court said it would 


have made homosexuals there 
“unequal to everyone else.” 

Lawyers for California and 
several' local governments in 
the state urged the justices to 
reject the challenge, which 
they called premature. 

California’s attorney gener- 
al, Dan Lungren, told the court 
that “the fact that in some 
hypothetical case involving a 
particular set of circum- 
stances” the application of the 
measure could raise issues of 
constitutionality did not war- 
rant a review’ by the Supra 
Court Unlike ibe Colorado 
law, he said, “no group of 
persons is singled out for dis- 
advantageous treatment*’ by 
the California measure. 


POLITICAL NOTES 


Donations Flap Kills Off Group 

WASHINGTON — The national office of Citizen 
Action, one of the most effective grass-roots organi- 
zations on the left, has become the first victim of political 
and union fund-raising investigations that have already 
damaged the Democratic National Committee and the 
reform wing of organized labor. 

The organization, which claims more than 2 million 
members, was forced last week to close its national offices 
and dismiss its 20 national staffers in the wake of a federal 
investigation in New York into the 1996 re-election of 
Ron Carey to fee presidency of die Teamsters. 

While fee fund-raising inquiries also have highlighted 
Republican actions, the left is suffering the most. “Liberal 
donors, individuals and foundations, don't like being asso- 
ciated wife what is going on now wife money and politics,” 
said Stan Greenberg, a Democratic pollster. (WP) 

Election Finance Vote in House 

WASHINGTON — Newt Gingrich says fee House 
will join the Senate in taking np campaign finance leg- 
islation next spring. ‘ ‘We will have a vote either in March 
or April, is my guess, on campaign finance reform,” the 
House speaker said Sunday. 

He added: ‘ ‘There’s some thought of letting fee Senate 
go first” and seeing how that “works out." The Senate 
majority leader, Trent Lott of Mississippi, said last week 
that he will schedule debate on finance legislation no later 
than March 6. (WP ) 


Quote/Unquote 


Doug S os nick, counselor to fee president, traveling 
wife President Bill Clinton as he campaigned for Demo- 
cratic candidates in fee elections Tuesday: “Presidential 
visits are like Chinese food. They fill you up, but they 
don’t last long. But since we're coming in late, I think we 
can have an impact.” (NYT) 



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A BETTER APPROACH TO BUSINESS 



PAGE 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 

INTERNATIONAL 


Senegalese Try to Pluck a Living From Seas Tee 


By Stephen Buckley 

Washington Post Service 


MBOUR, Senegal — Nearly two hours ago, 
when two fishing boats — the Mbaye Tboufi 
Gucye and the Matar Gueye — began their day's 
journey in the early morning, the sun was wans 
and soothing. Now it is sharp and hot, like shards 
of glass on the skin. 

And the boats have nor a single fish to show for 
their toil- They have not even been able to put 
down a net They slice through the glistening, 
clear green Atlantic waters, six kilometers (four 
miles) offshore, seeking fish, but the men aboard 
: only clusters of sardines. They see no fish 
can sell 

Maguette Dieng, the fisbennan in charge of the 
boats, recalls days when he could go out less than 
a kilometer and find enough fish to fetch hundreds 
of dollars from wholesalers. Now, with a flood of 
industrial vessels, many from abroad, and over- 
whelming numbers of Senegalese fishin g these 
waters, he is lucky to find fish even this far out. 

“We used to try to catch what we wanted,’* 
Mr. Dieng, 27, said in his native language, Wo- 


lot through an interpreter. “Now we catch what 
wefmd. ,r 

Mr. Dieng’ s day-to-day struggle to survive is 
mirrored in countless lives around this continent. 
Thirty-one countries in sub-Saharan Africa lie on 
the Atlantic or Indian oceans. Some rely hardly at 
allon the sea because of limited coastline or lack of 
harbors; others, notably Senegal, depend on fish- 
ing as a livelihood ana for government revenue. 

In recent years, traditional, or small-scale, fish- 
ermen in this West African country have seen their 
individual catches shrink as fishing has become 
more lucrative. They have seen fellow fishermen, 
as well as more than two dozen industrial vessels 
from Asia, Canada and Europe, carve into their 
piece of the Atlantic. “When fish want to move 
closer to the coast, the big European boats catch 
them first, 1 ’ Mr. Dieng said. “It’s not good for us, 
but it’s very profitable for the Europeans." 

For people such as him, the sea is not just the 
source of family income. Five generations of his 
family have labored as fishermen. The sea is as 
important to him as air itself. 

**AU my life depends on the sea, on the 
ocean,” said die bearded, muscular father of 


three, “My whole family depends on the sea 
ray father, my brothers, my wife, ray children.” 

Babacar Ndiaye, Mr. Dieng ’s grandfather, ad- 
ded, “The sea is part of me.” 

Mr. Dieng’s father, Djibe Ndiaye. does not 
know if his five grandsons will say the same 
thing. “Life will be harder for my grandsons 
because of the reduction of fish resources.” he 
said. “So they will have to try doing something 
else, and that will be very difficult.” 

It is hard to overstate how much a town such as 
Mbour, SO kilometers south of Dakar, the capital 
of Senegal, relies on the sea. Families eat fish 
several times a day. Some schools get their ink for 
pens from cuttlefish. Shade vertebrae are fash- 
ioned into necklaces for tourists, and dried, gut- 
ted moonfish become lamps. Seaside sand is 
mixed with cement for bricks. Rocks from the 
beach form foundations for houses. 

By late afternoon, as dozens of fishing boats 
return to shore, the beach is a sweaty, noisy, 
teeming place, where a smothering stench — raw 
fish — catches in clothes and in pores. All over 
the shore, men scale, gut, smash, slice, smoke and 
pile up fish. Women nurse their babies by the 




The number of fishermen usmgtraditi«*I 
methods has soared in recent years. The number 
climbed by nearly S percent between 1991 add 
1995 looping 50,000. and economic analyst 

expect Se increase to continue, to 
scale fishermen snagged 249,724 tOT* of fislwBy 
1995 that figure had nsen to 265;744 tons. 

As’ a result, fishing has become sharply t 
oetitive. Industrial vessels, once rare,, 

You have to be trained, you have to learn the increasingly ^numero . » • ■ 

r ou nave « .-f vmi ‘Today, fishermen can make money, j_ „ 

irnques of ^hraa, be stud, jutf as if you -They know, how to save 

e going to school for anything else. g S because Ibey ctui use d! , 

money to go into another business. The bad side - 
Is that the government doesn't help knoll-scalp 
fishermen . anymore. The government favors^ - 
larger boats.” ' _ 

It does so because vessels fro m Europ e, Mia 
and Canada pay huge fees — one rehj&m fishing 
generates an estimated 70 percent Of. the gov- 
ernment's annual revenue. *•- 


water. Men kneel and bow eastward and pray. 
Babacar Ndiaye, Mr. Dieng's grandfather. 

i ■ W. MrliauA with II 


OX wnite Deara, comes every morning 
the sea, and he stays virtually all day. He relaxes 
under a shelter with other retired fishermen. He 
gaid what galls him most these days is that 
fishermen do not care much about their craft. 

“You hi ' ' ' ' 

techniques - 

were going to school for anything else 
Mr. Ndiaye began fishing on his own at 12. 
after his father trained him for five years. He used 
to beoutou the waterby 4 AM., returning around 
sunset. He. would go home for a few hours, then 
be back m the water all night. He followed the 
stars for direction and used the moon for light 
In those days, fishermen worried primarily 
about making enough to feed their families, buy 


T.- 
1 < 


ing was about survival and community. That was Senegal signed a i 

Ffefeais: ? 

45 percent and men turned to fishing because 
there was simply nothing else. 


With UK! CUlUUCnu uiuun «utw,TM'p — »■■■»«« -w- ff 

sets from EU countries into close-tn waters tanfe ' 
dominated by traditional fishermen..- '• 


THAILAND: Prime Minister Steps Aside 


Continued from Page 1 

choices, Mr. Chaovalit’s failure was his 
inability to break the mold in a political 
system characterized by corruption, pat- 
ronage and ineffectiveness. 

“What is the role of politicians if not 
to help businessmen?’’ Mr. Chaovalit 
said not long ago. 

And: “Vote-buying, money politics; 
it is a very bad thing. But in politics to be 
a purely, good guy all the time is very 
difficult.” 

As a longtime player, Mr. Chaovalit, 
65, a retired army general, personifies 
the political shortcomings that econo- 
mists say have deepened Thailand's eco- 
nomic crisis and could make its recovery 
slow and painful In a region whose most 
successful economies are run by elected 
autocrats, Thailand's democracy is a 
rfmntir ano maly . Since the nation be- 
came a constitutional monarchy in 1932, 
parliamentary democracy here has 
meant a repeating cycle of governments, 
constitutions and coup attempts. 

Last month. Singapore's senior min- 
ister, Lee Kuan Yew, in an unusual 
breach of regional etiquette, blamed 
Thailand for Southeast Asia’s economic 
crisis and said its political system was 
the root of its problems. 

“Many Thai leaders in government 
and opposition,' ’ he said, ‘ ‘have personal 
interests in the fate of finance companies 
and banks, hence a natural reluctance to 
discipline them. So warning signs were 
ignored and remedies postponed.” 

Mr. Chaovalit has pointed out that he 
did oot create the economic problems. - 

“We were already at the edge when I 
took office In December 1996,” he said 
last month. “It was clear that the econ- 
omy was in great danger then.” 

Like his predecessors, Mr. Chaovalit 
headed a tenuous multiparty coalition 
■whose competing political and financial 
ambitions have made creative leadership 
nearly impossible. 

At die outset, coalition politics forced 
him to abandon his promise to install a 


JIANG: 

U.S. Visit a Success 

Continued from Page I 

has become “more disciplined” over die 
past two years in its willingness to stick to 
the three diplomatic communiques that 
form the basis for U.S.-China relations. 

The documents essentially outline an 
agreement to disagree about Taiwan, with 
the United States recognizing Taiwan as 

part Of China but maintaining that any 
reunification should be peaceful. 

From (be Chinese point of view, re- 
lations were badly ruptured by the Amer- 
ican decision to grant President Lee Teng- 
hui of Taiwan a visa to go to Cornell 
University in June 1995, while the Amer- 


icans were most disturbed by China’s 
decision to conduct missile tests off die - up running die new government 


“dream team” of technocrats to heal the 
economy. Infighting continued as the 
baht fell by more than 40 percent and the 
stock market slumped sharply. Even 
after accepting a $17 billion bailout 
package lea by the IMF in August, the 
government has been unable to produce 
the required austerity program. 

Some experts say the railing baht and 
sinking prospects for growth may mean 
that Thailand will need to ask for still 
more international assistance. 

The government’s boldest steps in 
meeting IMF requirements for a bal- 
anced budget illustrate the problems. At 
the urging of the finance minister, Than- 
ong Biday a, it imposed a politically un- 
popular ft] el [nice increase last month. 
Two days later it gave in to public 
protests and rescinded the tax. leading 
Mr. Thanong to resign. 

“Thailand's business community has 
only Itself to blame for this passage of 
events,” said former Prime Minister 
Anand Pany arachun. 

“It was negotiation and compromise 
between politicians and business that 
held the foundations for the bust The 
current recession in the Thai economy is 
a direct result of the political misman- 
agement of recent years.” 

■ Markets Await Gear Signal 

Thomas Crompton of the Internation- 
al Herald Tribune reported earlier from 
Bangkok: 

While the markets Tuesday are 
thought likely to cheer the unpopular 
Mr. Chaovaht’s resignation, analysts 
said prolonged uncertainty over a suc- 
cessor would further undermine con- 
fidence in the economy . 

Callers to radio talk shows on Monday 
cheered Mr. Chaovalit’s imminent de- 
parture, but analysts said no real change 
could take place as long as the same six 
parties remained in power. 

“With die same coalition, the new 
government will be short-lived and ex- 
tremely unstable,” a political analyst 
said. Even the much-respected Mr. Prem 
could do little to discipline the unruly 
coalition, the analyst sard. 

In his seventies and sittinj 
is privy cor 
rnibol Adulyadej, Mr. Prem led Thailand 
through a major economic upheaval and 
international bailout in the early 1980s. 
He is one of the few Thai prime ministers 
to have completed a full term in office. 

But some analysts doubt Mr. Prem 
would be willing or able to clean up the 
present crop of politicians. 

“Prem is not that much of a fool to 
accept the job as it now stands,” said 
Montri Chenvidyakam, who was deputy 
spokesman for Mr. Prezn’s government 
“If he took the job he would die a 
disgraced man because he cannot suc- 
ceed wifothe current politicians.” 

Arpom Chewakrengkrai, chief econ- 
omist at Deutsche Morgan Grenfell, said 
initial market reaction would be pos- 
itive, but that tiie situation would get 
“more negative if the same people end 



IRAQ: - 

Threatens Spy Flights 


Continued from Page t 


. r. i 

■f ; 


After the latest incident involving an 

the UN 
ther 'in- 
spections, for chemical weapons aijd 
missiles. All inspections were halted last 


American already in Baghdad, the 
rely called off 
s, for chemical 


sady in 

immediately called off two other 'jp- 

atid 




win? 


Ujmrl Jnubmfltrutrr. 


Service stations In Nantes, western France, had been emptied of gas by the time the strike started on Monday. 


FRANCE: 

Highway Siege 

Continued from Page I 


Principal Truck 
Barricades in 
France 


coast of Taiwan just before a presidential 
election there in March 1996. 

Mr. Qian said that China had won 
reassurances during the summit meeting 
that the United States would not change 
its position supporting “one China,” 
nor would it support Taiwan’s bid to 
rejoin the United Nations, where it was a 
member until it was ousted in favor of 
Beijing in 1 971. 

Some Chinese leaders had hoped that 
Mr. Jiang’s visit might yield a bigger 
prize: American support for China’s entry 
into the World Trade Orga n i za ti o n. 

American officials say that China has 
to make more concessions in opening its 
domestic markets before it can join the 
organization. But political considerations 
have also played a part, since concerns 
about Asian contributions to the Demo- 
cratic Party campaigns made the Clinton 
adminis tration reluctant to be seen mak- 
; an extra effort on China’s behalf. 


cause of a shortage of parts. 

The strikers anp deman 
a salary increase to lflj 
francs ($1,724) a month from 
about 7,700 francs, and a re- 
duction in working hours to 
200 hours a month from about 
250 hours. 

At tiie same time, the era- 
’ organization representing 
percent of the industry drew crit- 
icism for having walked out of the talks. 

They offered to raise drivers’ salaries by 5 
percent a year to reach an annual salary of 
ting abovepol- 120,000 francs by 2001, but refused the un- 
ities as privy counselor to King Bhu- ion’s demand for a capon monthly working 

time. 

It was the fourth truckers’ strike in 
little more than a decade and followed a 
12-day stoppage a year ago. when the 
drivers gained the experience of caus- 
ing the maximum amount of economic 
chaos by throwing up blockades at key 
choke points. 

Last year, they won the right to retire 
at age 55, but said most employers had 
reneged on a promise to pay a 3,000-franc 
bonus. 

The strike had widespread effects be- 
yond France's borders, blocking much 
of the Continent’s trade, and cutting off 
Spain and Portugal from their markets 
and suppliers in northern Europe. 

Most Italian truck companies also use 
French roads to the north because of 
weight restrictions on Swiss roads and 
ecological limitations in Austria. 

The Channel Tunnel between France 
and England remained open, but a 
spokesman said little freight traffic was 
moving in either direction. Ferry cfaan- 



Tfte baht, which hit a record low of 
4120 to the dollar last week, finned in 
the offshore market on the resignation 
news, to 39 JO from 40.05. 


Source: French Government 


nel ports were brought to a standstill, and 
Belgian and Dutch ports serving Britain 
also reported light traffic. 

The Road Haulage Association in 
London said Britain could suffer short- 
ages of meat, fresh fruit and vegetables, 
cheese and wine if the strike persisted. In 
Spain, growers flooded the markets with 
vegetables and fruit they could not ship 
through France. 


Intomnioiial HcnU Tribune 


The transport minister of the Neth- 
erlands, Annemarie Jorritsma, appealed 
to the French government to take all 
possible measures to stop the blockades. 

The government set up an Internet site 
— www.equipement.gouv jfr — to ad- 
vise travelers about the location of the 
principal barricades. But the wildcat 
nature of the strike made any journey in 
France hazardous. 


Wednesday after the Iraqis gave Amer- 
ican arms experts working for the United 
. Nations in Baghdad a week to leave (hje 
.country, 

Iraq, which first threatened to halt all 
inspections, apparently decided to talget 
- Americans tiv Isolate Washington 
aim because of the Clinton administra- 
tion's recent efforts to increase sanctions 
on Iraq because of its lack of cooperation 
in accounting for prohibited weapons* 
Far Washington, there is tittle altern- 
ative at the moment than to let evenwit 
the United Nations take their courte. 
Unless Mr. Saddam takes action that 
would endanger the lives of the seven 
Americans still in Baghdad on an fy 
tematiohal arms -control team, there, 
no chance of maintaining Security 
. Council unity against Iraq. V, 

Russia and France, backed by China 
and several Arab and African nation^, 
made it clear last week that .a milit&ty 
response would not be supported. J. . 

“Our view is that Saddam Hussejh 
should .change; his mind and allow -the 
UN inspectors to do their Job,” said 
James Kubin, the State Department 
spokesman. ' H - r 

Some Western diplomats . said they 
* believe the Iraqis would in fact tike to 


to split foe fragile nnaufofy orvfoe, 

•• r 6inty Council and isolltg- Waroit^tO^. 
Council members were engaged in 
closed door meetings Monday to dis- 
cuss, among other topics, the question of 
whether Iraq is in breach of its 1991 
cease-fire obligations and therefore vul- 
nerable to military action should ',foe 
confrontation continue or worsen. 

The discussions over how to force 
Iraqi compliance come at an interesting 
time. China, which generally opposes 
sanctions and military intervention, 
holds the rotating council presidency Jor 
November. The Iraq issue could tie qu 
early test of relations with Washington 
in the tight of the visit last week: o' 
President Jiang Zemin. ‘ 

In Baghdad, tiie official Iraqi pifcss 
agency, INA. announced that Mr. Sad- 
dam had emphasized at a cabinet meetiqg 
Sunday that while the country was $e» 
pared for American attacks, he belie'vdd 
in “the importance of conducting a dia- 
logue that will put things in their prober 
pwspective, where rights and obligations 
will be clarified without any confusion, 
ambiguity or procrastination.” “ 
The news agency reported that the 


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VOTE: Off -Year Elections Set Stage for 9 98 


Iraqi leader hoped to discuss a date for 
the lifting of the UN embargo. Appar- 
ently, the Iraqis think that' the ban on 
Americans is negotiable. * • •' 

But that is exactly what the United 
States will not accept Mr. Richardson? 
the U.S. representative at the United 
Nations, has said daily since the Iraqi ban 
on Americans was announced last week 
that there was nothing to negotiate. 


J'kknmi «5 *vt 


Continued from Page 1 

plus a heavy infusion of funding from 
the Republican national party, appears to 
have given him a narrow lead. 

EEs Democratic rival, Donald Beyer 
Jr., the two-term lieutenant governor, 
had hoped to win over voters, especially 
women, with his plans to improve public 
schools and his support for abortion 
rights. His ads sought to link Mr. 
Gilmore to the religious right 
But his criticism of Mr. Gilmore’s 
tax-cut message fell flat Mr. Beyer Br- 


ing an extra cnon on uima s nenan. lax-cui message ieu nan Mr. ueyer ar- 
Separatcly, the two sides issued a joint gued that the Republican’s proposal 


statement agreeing to work toward a 
“constructive strategic partnership” 
that increases diplomatic cooperation 
and avoids confrontation. 

Despite the vague wording, die agree- 
ment is something Mr. Jiang can wave as 
a sign that he is handling foreign affairs 

constructively. 

Above all, Mr. Jiang’s visit gave him 
the opportunity to bund chi his recent 
domestic political success, to demon- 
strate that he was in charge of foreign 
affairs as well as national ones. 

"This is Jiang’s year,” Mr. Wang 
said, referring to Mr. Jiang’s political 
success in .smoothly handling the tran- 
sition following the death of Deng 
Xiaoping last February, the return of 
Hong Kong to Chinese rule on July 1, 
and tiie Communis t Party Congress in 
September, where he consolidated his 
authority by ousting some major rivals. 

‘ 'He wanted the help of the American 
government to build up his image,” Mr. 
Wang said. “And he got it." 


might be rejected by the state legislature, 
that it might not be constitutional and 
that the state could ill afford it. Hie also 
sought to portray himself as the purveyor 
of “a nobler vision” and teller of hard 
truths. Box his ideas failed to register 
with voters, and in the end he offered his 
own, more modest tax cut Critics said 
that left him looking indecisive. 

If Mr. Gilmore wins, others are likely 
to follow his approach: Force an opponent 
onto the defensive on an issue that goes to 
voters' pocketbooks, while hugely 
sidestepping sometimes troublesome so- 
cial issues, like abortion and education. 

Republicans have spent heavily in New 
Jersey tosupporttbe re-election campaign 
of Governor Christine Todd Whitmp, 
who has been considered an effective 
moderate with broad n ational appeal. 

Yet, while she is credited by many with 
the state’secoDOmic rebirth, a 23 percent 
drop in the crime race and a paring of the 
w elfar e rolls, Mrs. Whitman has found 
herself in a close race with a little-known 


rival. State Senator Jim McGreevey. 

That is partly because she gained the 
disdain of anti-abortion activists and the 
conservative Christian right by vetoing a 
state bill to ban late-term abortions. 

That issue has national significance as 
the Republican Party, the victim of a 
“gender gap” in recent elections across 
the nation, seeks to build support among 
women and suburban voters who con- 
sider themselves fiscally conservative 
but socially liberal. 

Mrs. Whitman has also been hurt by 
Mr. McGreevey’s ability, like Mr. Gil- 
more in Virginia, to seize and exploit a 
single issue that resonates with voters: 
high auto insurance rates and property 
taxes. New Jersey's rates in both cat- 
egories are the highest in the country. 

The race in Brooklyn and Staten Island 
to replace Ms. Molinari is also seen as an 
indicator of how the elections next year 
will play, with substantial contributions 
from die national Republican Party being 
largely offset by donations from organ- 
ized labor for foe Democratic candidate. 
The Republican, Vito Fossella, a City 


British Rock Band 
Is Stranded in Lille 

Reusers 

LONDON — Britain’s top- 
selling rock band Oasis fell victim 
to foe French truck drivers’ strike 
Monday when it was forced to can- 
cel three concerts in France. 

Oasis had been due to play a char- 
ity conceit in Paris on Tuesday and 
had shows lined up' in Angers and 
Bordeaux. But their equipment has 
been stranded in Lille in northern 
France by tbs truckers’ blockades, a 
spokesman for the band said. 

“They are very disappointed 
about the concerts but they are look- 
ing at rescheduling them for a later 
date,” the spokesman said. 

The tour will resume on Nov. 8 in 
Zaragoza, Spain. 


MALAYSIA: Mahathir Means B 


Continued from Page 1 

was admitted as the 16th member on 
Monday. 

At the opening of foe meeting, which 
followed several months of turbulence 
in foe world's financial markets, it was 
clear what problems were on foe leaders’ 
minds. 


usiness 


time, market forces by themselves Have 
been exploitative: Thus a few bottles, of 
whisky was the price paid for 
Island and glass beads were traded 
valuable goods and treasures be loo 
to indigenous people, foe simple 
trusting natives. ” 

At home and during his many hips 


or 


» ♦ l... 


r* -• ... 


idem. Analysts said a big victory could 
propel him to a candidacy for foe U.S. 
Senate, or even foe presidency, in 2000. 
In Oregon, Tuesday marks foe last day 


Amidafl^y of speeches, ttegrcup 

pressed “deep concern” overlpec- th*ri T QMalaysia s "TJ n 
idattve activity and called for help from 
foe imemanonaJ Monetary Fund and foe 
World Bank to “study recent develop- 
me nts in currency markets with a view to 
appropriately regulating them in order to 
m ake th em more open and transparent.” 

President Suharto of Indonesia, which 
on Friday received a $23 billion eco- 
nomic stabilization package from the And if u • ^ vr- 

geaisSae 

And Mr. Fujimori said foe turmoil 
was compromising development and 
forcing us to strengthen the financial 


“Time and time again, what I he. 
that he’s got guts to open his mout- 
said Abdul Razak Abdullah BagihiL 
executive director of the Malaysian Stra- 1 
tegic Research Center. «* 

1 ‘The high profile has certainly ietTto 
SeguJ 6 ' S w ^ ere Malaysia iSrjo 


c o«SFy’ s , total external trade, was 

teveifom!" 81 yMr * 

Cfounctimmiber, has sought tohiteh Ins ofamailrefeendum on repealing a 1994 anism that aUws^^tofiS^cienfol Arifftexecutive diiJJor 

st® 1 . 10 Giolrani s wagon, frequently referendum in which voters narrowly arid adequately problems of moneta™ plHl® Institute of Econoiflic 

toutim his close working relation- supported physician-assisted suicide, stability.” t&T ^ ““tote’s also been quite a. 

thm” With tVl»> maunr FTf. . j — « . f . . lot of \ . B 


I . 

’A, ■ 


ship" with foe mayor. Pledging not to 
vote for any tax increases in Congress, 
he challenged his Democratic opponent, 
Eric Vitaliano, to do the same. 

The John Zogby polling organization 
has predicted that Mr. Giuliani, respected 
for cleaning up foe city and cutting crime, 
will win up to 65 percent offoc vote 
against his Democratic opponent, Ruth 
Messinger, the Manhattan borough pres- 


Court challenges had prevented its im- 
plementation. 

If foe repeal measure fails, and there 
are no court-ordered delays, foe state 
health department will issue regulations 
that will free doctors to prescribe lethal 
medication to terminally ill patieots who 
seek to end their lives. 

About 20 states are considering -sim- 
ilar right-to-die Laws. 


l n . . .. , . — — U-QI IjUlW “ ■ 

But It was Mr. Mahathir who offered J investments in some.of 

criticism of foe wori?2 Whi ° h WUld S* ne $ e 

Raphael Auphan, general managed 


financial 
drawn u 


markets. If rules were 


drawn up for currency trading, he said. c Upn ^ n ’ S enera l managed 

“the figfit for iodependencewill havera * nvol 'S? 

begin all over again, for the-, nw-v-m , jo 11 ” venture in Kuala Lumpur, added: 


V ■ ‘ 

v 1 • ■' •- 


^ -f ■ 

•r ■ y ■ r ; ‘-j . 


again, for the present **if v i - - -» *»•*««•» muu^ui. nmuk 
market rales will surely result in a new r hLfSL ■ ai Mai^i*? companies./, 

it tr d ^ not ^vesting in Europe or the 
U.5.. foev are 


imperialism more noxious and debil 
i taring than foe old.” 


-A, 

i — . 


,* are investing in African 
hies, high-potential * 


He added: “Sioc. d» begmniag of 


where 







itil Hi,,,, 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4* 1997 


PAGE 3 




EUROPE 


London Won’t Press U.S. 
Over Convicted Au Pair 

'It Rebuffs Lawmaker on Diplomatic Pressi&e 



' 7 

The British gove rnrn enr 
Reeled on Monday a call by the ke- 
is^tor representing Louise Woodwart ’ s 
maoe constituency to use diplomatic 
pessme on the au pair’s behalf if she 
■appeals her conviction in the United 
States for murdering a baby in her care, 
v -Andrew Miller, a member of Par- 
liament from the governing Labour 
Par ty. k>M Baroness Liz Symons, a min- 
lster of the Foreign Office, that speed 
wpnld be vital for any appeal in the 
United States by Miss Woodward. 

1 Miss Woodward, 19, was found 
guilty last week in Cambridge, Mas- 
SMhusens, of the second-d^rce murder 
i of 8-rnonth-old Matthew Eappen anH 
.was given a mandatory life sentence that 
would require her to serve at least 15 
years in prison. 

- ■ The sentence provoked anger and dis- 
belief in Britain, where newspapers 
mounted campaigns to get the au pair 
freed and public donations flooded in to 
-A^und set up to help pay her legal fees. 

After his meeting with Baroness Sy- 
mons, Mr. Miller said: “The govern- 
ment obviously cannot and should not 


a well-developed democracy. But it is 
important that ministers are aware of 
what has gone on so that if fee case goes 
to appeal, pressure is brought through 
diplomatic channels to ensure Thay the 
appeal is held early.” 

Mr. Miller, who wear a yellow ribbon 
to made bis belief in Miss -Woodward’s 
innocence, noted that appeals in U.S. 
criminal cases can take up to two years 
to come to court. 

Hiller Zobel, a Superior Court judge, 
has invited Miss Woodward’s de fray: 
lawyers and the ' prosecution to argue 
whether he should reduce the charge she 

was convicted on, set aside the verdict or 

order a new trial, the three alternatives 
he is allowed under state law. Those 
arguments are scheduled for Tuesday. 

Some legal experts say It is rare fora 
Jury’s verdict to be set aside, bat Judge 
Zobel ordered .a new trial in 1984 for a 
former policeman convicted of second- 
degree murder in the killing of a friend. 

Defense lawyers were expected to 
seek a change in tire conviction, and the 
prosecution said it was flexible only on 
the issue of a reduction. (Reuters, AP) 



0 

^Cosmonauts Repair Mir Panel 




— . jr Z-r*- -7 — ■ 


■ *, The Associated Press 

4.- MOSCOW — Two Russian cosmo- 
nauts dismantled a failing solar panel 
Monday on Mir and found tim* to do 
'jsome more repairs on the battered space 
- station despite last-minute problems 
Avife a spacesuiL 

„ ’ The six-hour spacewalk went 
.smoothly with the Mir commander. 


Anatoli Solovyov, and Pavel Vino- 
gradov quickly removing the solar pan- 
el. A new panel is to be installed Thurs- 
day. 

It was another bit of good news for 
Mir, whose crew has been trying to 
reverse the effects of a collision in June 
and a string of other mishaps. Several 
recent repair missions have gone well 


Leaders in Balkans 
Open 2-Day Meeting 

HERAKUON, Crete — A high- 
level, two-day meeting aimed at set- 
tling differences among Balkan na- 
tions opened here Monday with at- 
tention focused on tense relations 
between Greece and Turkey. 

■ Prime Minister Meant Yilmaz’s 
participation in the eight-nation meet- 
ing marked the first visit of a Turkish 
leader to Greece since 1988. 

Mr. Yihnaz was scheduled to meet 
Prime Munster Costas Simitis of 
Greece on. the sidelines of the con- 
ference to try u> reduce tension 
brightened by military exercises by 
bom their countries in the Aegean Sea. 

Also attending were the presidents 
of Yugoslavia and Macedonia, the 
prime ministers of Albania, Bulgaria 
and Romania and the deputy 'foreign 
of Bosnia. (AFP) 

Polish Military Ties 

WEIMAR, Germany — The Ger- 
man, French and Polish defense min- 
isters announced Monday a three-year 
program of joint military exercises to 
help prepare Poland to enter NATO. 

The three armies, navies and air 
forces will hold annual exercises be- 
ginning next year. 

Poland is scheduled to enter the 
military alliance, with Hungary and 
the Czech Republic, in the first half of 
1999. (AP) 



n Pirv% 

Prime Minister Mesut Yilmaz of Turkey putting an arm around 
President Kiro Gligorov of Macedonia at the Balkan meeting. 


pneumonia, has improved, his medical 
t eam said Monday. Mr. Havel, 61 , was 
Taken to the Central Military Hospital 
in Prague after his doctors cried to treat 
a viral infection in his lungs at his 
borne. 

He is expected to remain in the 
hospital for the rest of the week. 

Last Thursday, he,canceled a visit to 
Britain scheduled this week after doc- 
tors said he had contracted a viral 
infection that had exacerbated his 
chronic bronchitis, 10 months after 
cancer surgery on his lungs. (Reuters 1 


Havel Feeling Better n D , . r . 

73 Papon Back m Court 

rm a /it re n i:»; x r» I 


PRAGUE — The condition of Pres- 
ident Vaclav Havel of the Czech Re- 
public, who was admitted to a hospital 
during the weekend with a fever and 


BORDEAUX — The war crimes 
trial of Maurice Papon continued 
Monday with the 87-year-old French- 


man once again brought to court from 
a hospital, where he has been treated 
for bronchitis. 

A lawyer for Mr. Papon, who is 
accused in the deportation of more than 
1 ,500 Jews during World War II, said 
he would remain at the hospital “per- 
haps for a few more days" although he 
was well enough in attend the trial. 

The court case resumed last Friday 
following a one-week gap after the 
former cabinet minister fell ill on Oct. 
24. He was diagnosed as suffering 
from severe bronchial infections of 
both lungs. 

This week the trial is expected to 
revive debate over the extent of the 
wartime Vichy government’s role in 
deporting Jews" to German death 
camps, with more historians due to 
give testimony. tAFP I 






Writer on Diana’s Death Is Sued by 8 Paparazzi 


ii^j> ? ■* 




i 


f - 


1 The Associated Press 

* V PARIS — Eight photographers under in- 
vestigation for their role in the crash that 
killed Diana, Princess of Wales, sued a French 
whiter on Monday whose book blamed papa- 
razzi for the princess’s rtearh, 

“ " The photographers contend that the author, 
Madeline Chapsal, violated their presumption 
of innocence in her book, * ’They killed Her,” 
published shortly after Diana’s death Aug. 

. J, ‘ The photographers want a judge to order 
L tfie censorship of several passages in the book 
"and are seeking 100,000 francs ($17,250) in 
damages. 

1 In the book^ Miss Chapsal likens the pho- 


tographers’ automatic cameras to machine 
guns and shotguns that she said were pointed 
at the princess. She also depicts photograph- 
ers as a pack of hounds during a hum. 

Hie eight photographers suing Miss 
Chapsal are Romuald Rat, Christian Mar- 
tinez, Stephane Darmon, Serge Am al. Nicolas 
Arsov. Jacques Langevin, Lazio Veres and 
Serge Benamou. 

The eight were among the photographers at 
the scene of the car crash in a Paris traffic 
tunnel that killed Diana: her boyfriend, Dodi 
Fayed, and the driver, Henri PauL Only a 
bodyguard, Trevor Rees-Jones, survived. 

Tests showed that Mr. Paul was drunk and 
had taken prescription drugs before the crash. 


BELGIUM: A Cellar of Bones Stirs the Country 


V "f v 


; Continued from Page 1 

■, " spokesman for the Brussels public pros- 
eCntor, has confined himseifto saying that the 

hones of at least two bodies have been found 
' and that Mr. Pandy is suspected of at least six 
; murders. But the national imagination — 
’grown prolific in the field of the gruesome — 
has proved impossible to curb. 

■ ^ 1 ‘We are a society in an advanced state of 
‘decomposition," said Claude Javeau, a pro- 
fessor of sociology at Brussels University. 

: lu The two communities, French-speaking and 
r Flemish, have less and less to do with each 
Other. Authority is confused, especially here 
. in Brussels, the only city that bolds the coun- 
try together. In this context, a succession of 
-■sutister cases, culminating with Pandy, have 
created a sense of trauma.” 

' * Certainly, trauma is evident outside the 
. three houses owned by Mr. Pandy, a thick-set 
Naturalized Belgian who fled Hungary in 
' T956 after the Soviet Union crushed the up- 
' rising there and wbo took up what appeared to 
be a quiet life giving religious instruction. 

■ ‘You have murders and 
mysteries in every country 

jr But in Belgium it seems more 
■' ‘extreme.’ 

•' - In the modest Molenbeek district, beside a 
canal, at a house from which three thigh 
-hones, three knee-joints and some apparently 
, suspect frozen meat have already been re- 
moved, neighbors stand gaping at the pastor s 
home with its forbidding reinforced doors. 

“I used to wonder about those doors, said 

"'Abderrahan Jaaferi. a Moroccan immigrant 
‘Who lives in the neighboring house. He put 
'them in about a year ago and it seemed strange 
‘‘because he almost never came to the house. 
--But he was a quiet man, a pastor, so I never 
’"approached him. Now I wonder if he also 

-'wSStheodS SteoftitecanaL atiflie four- 
■‘Stbry bouse where Mr. Pandy lived, police 
ii . • . .j sm» made tor 8 


ui uiuaui *** ■ — 

wouldn't say that I’m shocked bemuse 
*we r ve grown used to this kind of fiing^ a 
police officer said. “But it is fngh^m^ 

/ Apart from the Dutroux case, * “rf 
'daylight murders during the late 1980s, 
mainly committed ontsi& supermaArts m 
‘The French-speaking south of the country, nas 

‘hcver been solved. . 

- Nor has the case of a serial kilkrnow 
-operating in the Moos area, ^southwest 

“Sunk who has cut up at least five tofees 

.and dumped them along roads and wrasse 
discovery last year of three w ^^ n , &S £j s 
fteezers of a Lebanese restaurant in Brussels 
tn nponle s fears. 


tI in.lf87 that family members were missing and 


again told the police of her suspicions about 
hear fattier in a formal statement m 1992. 

But inquiries led to nothing, and it was wily 
in the aftermath of the Dutroux case, when a 
parliamentary comminee ordered the reopen- 
ing of all judicial dossiers on missing people, 
that the case of the paster was taken np again 
this year. 

This belated action has reinforced a sense 
that confusion often prevails — with the fed- 
eral, communal, regional, European, French- 
language and Flemish authorities all over- 
lapping in Brussels. 

According to the Belgian police, Mr. Pandy 
married for the first time in 1956, shortly 
before he fled Hungary. 

IBs wife was Llona Seres, who has dis- 
appeared and is now believed to have been 
lulled. The couple had three children — Ag- 
nes, who fives in Belgium, and two boys, 
Daniel and ZoJtan, who are missing and also 
believed killed. 

In 1979, Mr. Pandy wed again. His second 
wife, Edith Fintor, a Hungarian, is among 
those missing and believed dead. 

She had three daughters from a previous 
marriage, two of whom — Tonde and Andrea 
— are also thought to have been killed by Mr. 
Pandy. 

The couple had two children together, An- 
dras and Reka. boro in 1980 and 1981 re- 
spectively. They are alive. 

Judicial officials said Mr. Pandy had long 
maintaine d the fiction that his missing wives 
and children, all of whom are thought to have 
been killed between 1986 and 1990, had aban- 
doned him and returned to Hungary. 

He produced letters that he said had been 
sent by them from Hungary. In 1994, he even 
obtained a divorce in Hungary from Edith 
Fintor — a woman who, the police now feel, 
had been dead for several years. 

Last week the' Hungarian police began 
ff»4»r.hing a house that Mr. Pandy owned at 
Dnnafceszi, about 30 kilometers (20 miles) 
north of Budapest, where neighbors have said 
the pastor was often seen in fee company of a 
number of women. 

The Belgian police say Mr. Pandy lured 
various women to Brussels by placing ad- 
vertisements in the Hungarian press, and Mr. 
Colpin of fee pnblic prosecutor’s office has 
said that there may be farther victims among 
them. . • 

The police here also said they were in- 
vestigating reports from ttie Hungarian police 
that one of Mr. Pandy ’s stepdaughters may 
have had a child by him in 1984 and that he 
was bringing Hungarian women to Belgium 
to work as prostitutes. 

How Mr. Pandy could afford fear houses, 
why he was able tomove freely back and forth 
between Belgium and Hungary, even during 
the Cold War, and what the real purpose was 
of a Brussels social club he established are 
ftinnnp die questions still unanswered. 

“You have murders and mysteries in every 
country,” said Agafee Marcianak, another 
neighbor of the pastor. “But in Belgium it 
seems more extreme. 

“You no longer know who you are talking 
to and you have fee feeling th at beneath this 
calm surface, anything could happen.” 


FOB INVESTMENT INFORMATION “ 

p—i MONEY BE PORT every Saturday m the IHT. 



Southern Africa 
Trade ft Investment 
Summit 


U.K. Detains 
A Former Spy 


To Write Book 

Reuters 

LONDON — A former member of 
Britain's M16 intelligence service was 
charged Monday with disclosing infor- 
mation about the agency to outsiders. 

A court ordered that Richard John 
Charles Tomlinson, 34. be held until he 
appears in court again next week. 

Mr. Tomlinson was charged under 
the Official Secrets Act, in what was 
thought to be fee first such prosecution 
since 2961. If found guilty, he could 
face two years in prison. 

The lawyer for fee prosecution. Dru 
Sharp] ing, said that after leaving MI6 in 
1995, Mr. Tomlinson told his former 
employers Thai he was writing a book, 
and MI6 took court action to prevent 
publication. 

“Nevertheless in May of this year it 
was discovered that he might be in- 
tending to write a book and to give that 
book to publishers in Australia," she 
said. 

Mrs. Sharpling said that the spy 
agency feared Mr. Tomlinson might tr> 
to publish his book on the Internet, and 
that, because he has dual British and 
New Zealand nationality, he might try to 
leave Britain. 

Mr. Tomlinson’s lawyer, Owen Dav- 
ies, said the former MI6 man was not 
guilty of “betraying secrets to an en- 
emy.” Adding that he was not “a man 
who is dangerous to his country." 

The last MJ6 officer to be arrested on 
an official secrets charge was George 
Blake, who in 1961 was sentenced to 42 
years in prison for spying for fee Soviet 
Union. Mr. Blake escaped from prison 
five years later and now lives in Mos- 


Botswana, November 18-19, 1997 

President Ketumile Masire and fellow heads of state from the region will lead discussions 
at the International Herald Tribune's third Southern Africa Trade ft Investment 
Summit to be held in Gaborone on November 18- 19. The Presidents will be joined by 
business and finance leaders from the region, as well as renowned international figures 
and senior representatives from some of the world's leading companies currently 

investing in Southern Africa. 


Summit Sponsors 


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THE WORLD’S D UI.Y NEWSPAPER 








ASIA/PACIFIC 




Son of Korean President Freed New Post 

w Oils 


KimHyun Chul, Convicted of Bribery and Tax Evasion, Gets Bail 


at Kim Young 
Sam V second i&ri, convicted and sen- 
tenced tdtbree yleais in prison last month 
cm charged of bribery and tax evasion, 
was teleasecf from raison Monday on 
bail. 

- Kim. HyiatQmllbde in tbe back seat 
of a black sedan, television footage 
showed. His feee was pale but he smiled 
faintly as the car left the prison com- 
pound here. 

The court granted Mr. Kim’s request 
for bail on grounds there was no danger 
he would tamper 'With evidence or flee 
the country. Judge Park Hyung Nam of 
tbe Seoul High Court said. 

“We also took into consideration the 
fact that no one has ever been jailed for 
tax evasion in South Korea." the judge 
said. 

He added that bail was posted at 100 
million won ($103,670) and that Mr. 
Kim would have to apply to the court for 
permission to travel within South Korea 
or abroad for more than three days. Mr. 
Kim was to live at his home in Seoul. 


Mr. Kim, 38, was charged and sen- 
tenced on Oct 13 for talcing kickbacks 
worth 322 billion won in return for 
favors and evading taxes on 3.39 billion 
won he took as gifts. He denied the 
money constituted bribes, saying the 
funds were donations to finance a future 
parliamentary campaign. 

He was regarded as a close adviser to 
his father, heading an organization that 
helped make Kim Young Sam the first 
freely elected president in South Korea 
in four decades. 

Prosecutors charged he accepted the 
kickbacks in return for a cable television 
license, a fast-food franchise and fixing 
a court case. He was also convicted of 
evading taxes hiding some of the 
money in bank accounts under a false 
name. 

Mr. Kim’s arrest and conviction has 
damaged the credibility of his father, 
who has been reduced to lame-duck 
status ahead of presidential elections 
scheduled for Dec. 18. 

The president is constitutionally 
barred from seeking re-election after his 


five-year term ends in February 1998. 

President Kim’s image had already 
been tainted when a number of his dose 
political associates were sentenced to 
jail in a separate bribery scandal re- 
vealed by die collapse of Hanbo Steel 
Co. in January. 

Last month, die president amnestied 
23 businessmen who had been convicted 
of bribery, tax evasion and embezzle* 
menL They had repeatedly appealed for 
leniency, saying their convictions were 
hampering then companies' overseas 
activities. 

At the time of the amnesty, Justice 
Minister Kim Jong Koo said. 1 ‘This spe- 
cial amnesty is to allow the heads of 
conglomerates to use aU their strength to 
work for the economy, which is in a 
difficult situation.” 

Politicians and government officials 
who were charged along with the busi- 
nessmen were excluded from tbe par- 
don. Covered by the amnesty were 14 
executives of Hyundai Corp., who were 
convicted either of evading taxes or of 
embezzling company funds. 


RICE, INSTEAD OF RAIN, FROM ABOVE — Papua New Guinean villagers hefting rice sacks that 
Australian troops delivered to Lake Murray Station, Western Province, by helicopter. A drought 
attributed to the El Nino weather anomaly Is devastating the country, forcing the emergency food aid. 


Of Adviser 
On Tibet 
Irks China 

Reuter* 

BEIJING — China on 
Mooday denounced tbe U.S. 
government’s appointment of 
a policy adviser on Tibet and 
said foreigners should not 
meddle in China's rule of die 
Himalayan region. 

A spokesman for the For- 
eign Ministry. Tang Guoqi- 
ang, said China had told 
Washington that Beijing 
“resolutely opposes” tbe 
new post of U.S. policy co- 
ordinator for Tibet. 

Mr. Tang, in a statement 
carried by die official Xinhua 
News Agency, said: “Tibet’s 
affairs are part of China’s in- 
ternal politics. No foreign 
country shnnld, nor has the 
rig ht, to meddle or interfere.” 

The Clinton administra- 
tion, bowing to congressional 
pressure, agreed to create die 
policy coordinator’s post 
Secretary of Scale Madeleine 
Albright on Friday named 
Gregory Craig, head of die 
State Department’s Office of 
Policy Planning, to the job. 

Washington does not con- 
test Chinese rule over Tibet 
butit has urged Beijing to open 
talks with the Dalai Lama, tbe 
spiritual leader of Tibet 


A Peace Feeler 
In Afghanistan 

The Associated Press 

ISLAMABAD, Pakistan — 
For the first time in months the 
Taleban Islam in army and its 
opponents in Afghanistan 
have moved closer to the ne- 
gotiating table, a senior United 
Nations official said Monday. 

The breakthrough came 
last week when an opposition 
leader, Abdul Rashid Dus- 
ram, released about 200 Tale- 
ban prisoners and said be 
would participate in peace 
talks in Pakistan. The Taleban 
responded by accepting a list 
of some 200 men apparently 
being held by the army, the 
official said. 


Jenny Shipley, heir apparent to New Zealand’s prime ministership, on Monday. ^ 

A Shake-Up in New Zealand 

Prime Minister to Resign, Paving Way for Rival’s Ris£ 


The Associated Press 

WELLINGTON — Prime Minister Tim 
Bolger said Monday that he would resign at 
die end of die month rather than face a tough 
battle for political leadership. 

After late-night negotiations with a rival. 

Transport Minister Jermy Shipley, Mr. Bolger _ 

issued a statement saying that he would step Mr. Boiger’s leadership, 
down as prime minister and leader of the The timing of Mrs. Shipley s move, made_ 
National Party to allow an “orderly tran- just days after Mr. Bolger returned from an ■ 
siti on” to new leaders of New Zealand's official visit to Britain and France, look many 


Mr. Bolger, 62, has led the National Party , 
since 1986 and has been prime minister since 
1990. HU announcement followed months of ■ 
speculation that Mrs. Shipley had been pre- , 
paring to exploit dissent among government j 
members about the state of the coalition with r 
the New Zealand First party by challenging 


coalition government 

His resignation would pave thfc way for 
Mrs. Shipley to be elected leader of die Na- 
tional Party at a caucus meeting on Tuesday 
and become New Zealand’s first female prime 
minister. 

Mr. Boiger’s announcement made shortly 
before 11 PAL, followed a day of intense 
negotiations. He spoke after Mrs. Shipley 
gave him an ultimatum either to go quietly or 
race an aggressive, potentially humiliating 
leadership challenge. 

“Having now completed over seven years 
as prime minister, nearly 12 years as leader of 
the National Party and 14 years as a minister, 
changing circumstances makes it appropriate 
for me to step down as prime minister/' Mr. 
Bolger said. “I plan to work with my suc- 
cessor to achieve an orderly and successful 
transition in the interests of the National 
Party, the coalition government and the coun- 
try.” 


by surprise. 

Speculation reached a peak on Monday* 
when local media reported that the change in 
leadership was a fait accompli and that the.’' 
only undecided question was whether Mf,'*. 
Bolger would go quietly or have to be forced 
out 

Mrs. Shipley, 45. is the only leader who ha£ 
received fairly consistent high ratings in nh-1 
tional preference polls for the post of prime- 
minist er. 

Before his departure for Europe. Mr. 
ger began moving to head off Mrs. Shipley- 


i J 


and shore up his own support by shifting his-' (v*Tt 
platform more toward Mrs. Shipley’s nil* ’• 
atively conservative stance. “ - 

The daughter of a church minister and a 
mother of two, Mrs. Shipley is perhaps besr ; - 
known for her role in reducing government - 
support for the poor when she was social ' 
welfare minister in the first of the three Bolger 1 
administrations. 


Have you missed any of the 
Interaational Herald Tribune’s 

Sponsored Sections 

this year? 


Auctions in France 
Automobile Industry in Europe 
Bavaria 

Big Business Asia: Building Asia 
Built for Business: Bangladesh 
Built for Business: China 
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Biit for Business: India 
BuSt for Business: Indonesia 
Built for Business: Japan 
BuBt for Business: Philippines 
Built for Business: Singapore 
BuSt for Business: South Korea 
Butt for Business: Taiwan 
Built for Business: Thailand 
Business Education in France 
Business Education in the US 
Business Locations in Germany 
Business Locations in Vienna 
Business to e-Business: Banking 
By Spam: Cathedrals 

By Spain: Gastronomic Bounty of the North 
By Spain: Museums 
By Spam: World Heritage Cities 
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California Wines 
Canada and APEC 
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EcoEfficiency: Business and the Environment 

Egypt 

Egyptian Banking and Capital Markets 
Emerging Markets in Central & Eastern Europe 
Euro & Financial Markets 
European Fine Arts 
Fast Track 97: Asia Business Outlook 
Frankfurt's New Congress Center 
Greek Telecommunications 
Holidays in Europe: European Drive Around 
Hoidays in Europe: London & Paris Shopping Breaks 


Holidays in Europe: UK Fly and Drive 

Hotel Renaissance 

Hungary 

IFA: Advanced Electronics Showcase 

Interactive Industry 

International Business Education 

International Education in Benelux 

International Education in Germany and Austria 

International Education in Switzerland 

International Franchising 

Investing in Austria 

Investing in Austria: Vienna 

investing in Poland 

Kansai 

Kyoto 

Luxury Real Estate 

Mauritius 

Mitsubishi 

Mobile Communications: GSM and Beyond 
MutHinguafem in Europe 
North America Simmer Camps 
Office Equipment 

Portugal Update: Lisbon Stock Exchange 

Portugal Update: Telecom 

Russia 

Summer in New York 
Tanzania 

Technology & The Environment 
Thailand 

Trade Fairs & Congresses in Germany 
Travel for Knowledge 
Travel in Asia: Best Beaches 
Travel in Asia: Festivals 
Travel in Asia: Golf 
Turkey: Business Update 
Uganda: A Regional Powerhouse 
Yachting 

World Travel Shopping 
World Water 


Now available on the IHT Web site 



http://www.iht.com/IHT/SUP/index.html 




BRIEFLY 


l"i: 


Japan Parties to Send Smoke From Indonesia 
Mission to North Korea Enshrouding Malaysia 


TOKYO — Japan’s governing parties 
will send a mission to North Korea next 
week to prepare a resumption of talks on 
normalizing diplomatic ties, the Kyodo 
news agency reported Monday. 

The Liberal Democratic Party and its 
two parliamentary allies — the Social 
Democratic Party and the New Party 
Sakigake — will send a total of 1 1 party 
officials to Pyongyang on Nov. 1 1. Ky- 
odo said. 

The mission will be headed by Yoshihiro 
Mori, chairman of die genera] council of die 
Liberal Democrats, whose president is 
Prime Minister Ryu taro Hashimoto. 

The Japanese delegation was invited by 
North Korea’s rating Workers Party of 
Korea, and Mr. Mori has requested a meet- 
ing with the North Korean leader, Kim Jong 
H, Kyodo said. 

If the m eetin g occurs, Mr. Mori would be 
the first foreign dignitary to meet Mr. Kim 
since be was elected party secretary-general 
on Oct. 8. (AFP) 

Gunmen in Pakistan 
Kill 2 Shiite Activists 

_ LAHORE, Pakistan — Gunmen shot 
killed two Shiite Muslim activists in eastern 
Punjab Province on Monday in the latest 
round of religiously motivated killings to 
sweep the country. 

Dilawar Hussein and his brother, Bakr, 
were sitting outside a store in die busy 
downtown district of Sialkot, 200 kilome- 
ters north of the Punjab capital of Lahore, 
when four men on two motorcycles sped 
past. 

They opened fire, lolling the brothers 
immediately, police officials said. 

Both brothers were activists of the mil- 
itant Shiite group known as die Movement 
for the Enforcement of Shiite Law. 

They also were brothers-in-law of a 
member of the Punjab provincial As- 
sembly, Akhtar Hussein Rizvi. - 

Noone has claimed responsibility for die 
latest killings, but the police suspect Sunni 
Muslim rivals. (AP) 


KUCHING, Malaysia — Smoky pol- 
lution from fires in Indonesia returned to 
Malaysia's Sarawak state on Monday, cut- 
ting visibility and causing several flight 
cancellations, officials said. 

After weeks of dearer skies helped by , 
rain and favorable winds, southeasterly 1 
winds brought more smog to Sarawak, a ' 
stale on the north side of the island of 
Borneo that was put under a 1 0-day state of 
emergency last month, the Meteorological - 
Department said. 

The wind had changed from a north- 
easterly direction due to the tropical storm 
designated Linda in the South China Sea, 
the department said. “With the change in 
wind direction, ihe haze is back in 
Sarawak,” a department official said. 

The official said the situation in Sarawak 
was expected to improve, however, as the 
storm moved westward. (Reuters) 

Protest in Hong Kong 

HONG KONG — A dozen activists pro- 
tested Monday outside China's diplomatic 
mission in Hong Kong to urge Beijing to 
release imprisoned Chinese opposition ac- 
tivists. 

The protesters alleged that China tortured 
the imprisoned activists and called on the 
government co stop the torture. (Reuters) 

Death in Himalaya# 

^P* 1 — A Slovenian 
a . Hl ™ ala y an peak from one of 
its most difficult sides was killed on his way 

MorSay^ Ncpalcse Touris m Ministry said 

Jeglio, 36, a moun ta in guide, 
N?H 55 " mfiter (25 >77 1 -footfsum- 

^ aS^^ aPPrMCh had “» 

off balance by fierce winds. (Reuters) 


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Palestinian Bloc 
lit Peace Talks 
Palled Too Tiny 



INTERNATIONAL 


Edmond de Rothschild Dies; 
Banker and Vineyard Owner 


Jf WASHINGTON — The United States 
g tryin g to persuade the Palestinian Au- 
ftority to send more negotiators to Wash- 




State Department spokesman, James 
Rubin, said Monday. 

* •'Iliey are not here,” he said after talks 
began. “ A significant part of 0 ^ rooming 
fas spent discussing that without them 
gte won’t be able to make any progress. 
That iswhai they are working on now and 
trying to get them here.” 

The Israeli foreign minister. David 
Levy, and a senior Palestinian negotiator, 
Mahmoud Abbas, met Secretary of State 
Madeleine Albngfat on Monday morning, 
shortly before the start of Israeli-Pai- 
esdnian talks that are aimed at restar ting 
peace negotiations. 

“ But the Palestinians have not sent to 
Washington their experts on what are 
known as the interim issues — steps 
Israel agreed to take long ago but has not 
yet taken. 

“The secretary is concerned the Pal- 
estinian delegation was not in a position to 
discuss scrae of die interim issues,” Mr. 
Sjubin said. “We are Dying to fix that.” 

Yasser Arafat, the Pales tinian leader, 
paid Sunday that he was sending Mr. 
y\bbas to meet Mr. Levy “only because 
.We received an official invitation from 
Madeleine Albri gh t.” 


PARIS — Baron Edmond de Rothschild, 
71, a prominent French banker whose ex- 
tensive holdings included Bordeaux vine- 
yards, died of emphysema Monday in 
Geneva, a spokesman said. - - 

He had suffered Bom cardiovascular prob- 
lems in recent years and had repeatedly un- 
dergone surgery, a spokesman said 
Baron de Rothschild was president of his 
Geneva-based bank and financial companies; 
of the French Mountain Hotels Co., and of the 
Leicom Fund, based in Luxembourg. 

He was formerly president of Tne Israel 


then moved the family to safe haven in 
Switzerland, leaving the family’s 18th cen- 
tury Paris mansion, which is now the US. 
ambassador’s residence. 

Baroo de Rothschild was to be buried at 
Chateau Clark in a private ceremony, the 
spokesman said (AP, AFP) 

Helen Stevenson Meyner, 69; 
Democratic Congresswoman 
' NEW YORK (NYT) — Helen Stevenson 
Meyner, 69, a liberal Demoaat who was elect- 
ed to two terms in Congress from a heavily 
Republican district in New Jersey, died Sunday 




bonrg, among other companies. 

The baron’s Bordeaux wine holdings in- 
cluded Chateau Clark as well as a major share 
in the family organization th^r operates Chat- 
eau Lafite-RothschUd 

An avid art collector. Baron de Rothschild 
donated works to the Louvre Museum in 
Paris. He was wwnari commander of the Le- 
gion of Honor in 1994 and of the Order of Arts 
and Letters in 1990. 

The baron married his second wife, the 
former actress Nadine Tallier, in 1963. 

Their son Benjamin will succeed the baron 
as president of the Paris holding firm Com- 
pa gni e financiers Holding Benjamin et Ed- 
mond de Rothschild 

The baron’s father. Baron Maurice de 
Rothschild, voted in the Senate against Mar- 
shal Philippe Petain in 1940 when Petain 
formed the collaborationist Vichy regime. He 



New Jersey for two terms, from 1954 to 1962. 
Mis. Meyner was elected to the House in 1974 
and served until she lost the 1 978 election. She 
served on the House Committee on Inter- 
national Relations . 

Mis. Meyner was bom into a prominent 
Democratic family in New York. City. Her 
parents, William £. and Eleanor B. Steven- 
son, set up American Red Cross units in 
England and North Africa during World War 
XL Her father was founder of the law firm that 
became Debevoise & Plimpton. He was pres- 
ident of Oberlin College in Ohio after the war 
and was ambassador to the Philippines from 
1961 to 1964. 

Jacques Derogy, 72; Journalist 
Specialized in Investigative Cases 

PARIS (WP) — Jacques Derogy, 72, who 
helped pioneer investigative journalism in 



BRIEFLY 


AptcFncAntt 

Baron Edmond de Rothschild in Paris 
in 1987 with a bottle of one or his wines. 

France and tracked down (he Vichy war crim- 
inal Paul Touvier, died of cancer Thursday. 

Mr. Derogy, the author of about 30 books, 
began in journalism after serving in the Re- 
sistance during World War n. He wrote for the 
newspaper Franc Tireur, then for the leftist 
daily Liberation. He was on the staff of the 
weekly L’Express from 1959 to 1987 and later 
of the weekly L’Evenemem du Jeudi. 

In 1972, he found the trail that led to Mr. 
Touvier, who had been sheltered for years by 
Roman Catholic elements. Mr. Touvier was 
convicted of the 1944 reprisal executions of 
seven Jews while he was head of the Lvon- 
area militia. He served two years in prison 
before dying last year. 


World Court Sets Early March 
For Decision on Lockerbie 

THE HAGUE — The International Court of Justice 
said Monday that it expected to rule by early March on a 
dispute between Libya, die United States and Britain over 
the hunt for die Lockerbie bombers. 

Pan American Flight 103 exploded over the Scottish 
village of Lockabie in December 1988, killing 259 on 
board and 11 on ibe ground. Britain and the United States 
blamedTripoli for the blast and demanded the extradition 
of two Libyan suspects. 

On Ocl. 22. the court wound up eight days of hearings. 




in a Libyan complaint against die United States and 
Britain. Libya has asked the court to rule that London and 
Washington, backed by the UN Security Council, are 
acting unlawfully in insisting on the extradition. 

“The judgment concerning the preliminary objections 
of the United Kingdom and the United States, which is 
final and without appeal, will be delivered in approx- 
imately four months/’ the Hague court said. 

Libya has offered to hand the men over for Dial in a 
neutral country'. (Reiners l 

Kenya Needs Cash for Salaries 

NAIROBI — The Kenyan government is having prob- 
lems raising lhe cash to pay salary increases granted to 
civil servants, a senior official at the Central Bank of 
Kenya said Monday. 

“The government is in a quagmire as it is finding it 
difficult to raise the $20.9 million required to pay civil 
servants’ salaries following the recent increases,” said 
the official, who requested anonymity. 

The armed faces received their October salaries last 
week, but other civil servants have yet to be paid for 
October, officials said. ’ I.AfPl 


■ •(•fit 


it Vr-. 

k h< rr 


VL.c/.i ! 


f .ill? 

•/iKif fe 


WALKING IN THE SHADE: 
Volume Two of My 
- Autobiography, 1949-1962 

ByDoris Lessing. 404 pages. $27 JO. 
HarperCollins. 

Reviewed by Penelope Fitzgerald 

A T the end of the first volume of her 
autobiography, “Under My Skin,” 
Doris Lessing was on the point erf - leaving 
Africa for London. “1 was not going 
• home to my family,” she wrote. “I was 
fleeing from them. The door had shut, 
that was that” She was 30 and had 
with ha a baby son and die typescript of 
her first novel, “The Grass Is Singing,” 
i“How London’s enormousness (foes 
dismay its newcomers,” she writes, and 
in- <1949 London stood in ruins, food still 
rationed, people tired to death. In “Un- 
defc My Skin” there were lyrical de- 
scriptions of the African bush. In 
‘ ‘Walking in the Shade,’ ’ Lessing hears 

- rfor as for the first! the 

epigraph is from Idbries Shah: Reform is 
impossible “unless die individual has 
l ’ learned to locate and allow for the vari- 
otis patterns of coercive institutions, for- 
' ma] and informal, which rule him.” 

. Lessing tells ns that she is constantly 
using the process of writing to find out 
■' what she minks, and even what she is. 

! This means that she is learning and 
teaching even when she seems only to be 
recording ha own crowded day-to-day 
existence. She is a young single mother 
* 'trying to be whar is impossible, a father 
ia s well as a mother,” who needs a roof 
'over her head but also room to stand, sit. 


BOOKS 

talk, eat and dispute with ha friends. 

These Mends can be made in a mo- 
ment; she has the gift of intimacy. But at 
the same rune there is the amazing en- 
ergy of ha formal existence — exped- 
itions to Europe and Russia, meetings, 
writers’ groups, demonstrations. In 1952 
she applies for ha Communist Party 
card. “How easy to be intelligent now,” 
she writes, “how impossible then.” 

Throughout the rest of the book she is 
trying to come to some explanation of 
why she and so many others took this step 
in the '50s. In the end rite suggests that 
“to identify with the Soviet Union meant 
to be part of the by then well-established 
notion that in suffering is to be found the 
truth.” And then “you wake up one 
morning and think , Goodness. 1 used to 
think like that, didn't I? — but you hardly 
know how it happened. ” 

During die ’50s, which she sees, much 
more than the ’60s, as the starting point 
of new kinds of behavior, life becomes 

a TT n^OT g’of^shrewcfoe^ stacFaffetfieiv 
the campaign for nuclear disarmament, 
the weekend protest marches, and her 
angry colleagues at die Royal Court 
Theatre — Kenneth Tynan, John Os- 
borne, Arnold Wesker. She doesn’t al- 
ways take them — and certainly not 
herself — quite seriously. Here is one 
moment from among many, a picnic 
with a historian and his family: 

“We must find a sheltered spot, they 
cried. This was done, a mild hollow, 
where the wind blew no less, carrying 
sharp stinging raindrops. There we 
huddled, eating sandwiches and drink- 
ing tea out of flasks. ‘Mad,’ I was saying 
to myself. ‘These people are mad’ But 


now I don’t think so, and find cold rain 
no reason to stop me walking, and am 
just as mad myself.” 

One can’t help seeing Doris Lessing 
as enviably strong as she shares kitchens 
with other women, takes in unpromising 
guests, breaks ha heart ova her Czech 
lova — even, for a short while, takes to 
drink. She is strong, too, in ha ability to 
recognize where she has failed. She ad- 
mits to what could be called hard- 
heartedness toward ha mother, who ap- 
peals in England, longing to be of use, 
but is rejected because if she had stayed 
Lessing would not have had air and 
space to write. Ha mother died in a 
residential home, of astroke. “She could 
have lived another ten years,” Lessing 
writes, “if anyone had needed ha.” 

Toward the end of “Walking in the 
Shade" Lessing is working on “The 
Golden Notebook” and feds she has 
come to the end of a certain spectrum of 
ideas. She begins, therefore, a “system- 
ari qgeaschf pr something different.’’ For 
^ f e a ya r l SSBas accepted what she calls the 
confidence in the world’s 
material progress, contempt or at best 
pity for believers in the spirit. Now she is 
looking fa something else, but she is 
also being looked for. This, then, will be 
tiie necessary question to be answered 
when she comes to write about the ’60s. 

Lessing repeats herself, is sometimes 
too impatient, or seems to be, to recall an 
exact detail, and occasionally contra- 
dicts herself, but the story couldn’t be 
better told. She is there, marvelously 
urgent, translnceatly sincere. | 

Penelope Fitzgerald, whose most re- ' 
cent novel is ** The Blue Flower," wrote 
this for The Washington Post . 


. - f, 


* K ... 


i\ v w,,,! 

. , * •/ 

¥ f ri > * 


.-J* ! 

! 


Qualification of Contractors 
Rolling Stock - Electrical Multiple Units 

The Kowloon-Canton Railway Corporation (“KCRC") proposes to appoint through pre-qualification 
and tendering, a contractor for Contract SP-T 900, Roiling Stock - Electrical Multiple Units. 

The Contract is for the design, supply, testing and putting into service of 250 EMU cars, for use on 
both the East Rail and West Rail systems. Delivery of the East Rail cars is expected to commence in 
June 2000 and the delivery of West Rail cars in May 2001 . 

More detailed descriptions of the work activities will be included in the Pre-Qualification Questionnaire. 

East Rail is an existing passenger system operating between Kowloon and ‘Lb Wu. It is a 
double-tracked. 25kV electrified railway system with a route length of 34 km. The system has 
13 stations and one maintenance depot 

West Rail Phase 1 Passenger System will be a 30.5 km, double-tracked, electrified railway system, 
with a maintenance depot and up to 9 stations. 

r pci nests for a Pre-qualification Questionnaire should be made on company, letterhead by 
facsimile to the Kowloon-Canton Railway Corporation, Attention: Procurement Manager at 
852 2601-2671 in the English language. Requests for Questionnaires must be received by 
the Corporation by 6:00pm on 1 December 1997 Hong Kong Time. 

kprp will at its sole discretion, evaluate responses to the Pre-qualification Questionnaires. 
Those organisations which KCRC determines to be suitably qualified will be invited to tender. 
The tender documents will require the provision of a performance bond/bank guarantee. 

No communications in response to this advertisement will be accepted by KCRC except by facsimile at 
the above noted facsimile number. 

This Procurement activity is covered by the World Trade Organisation Government Procurement 
Agreement. 

interested firms are advised that the ultimate placement of orders for East Rail system EMU cars is 
subject to the approval of the Managing Board of KCRC. 


r *n,t ( 7/7730 advised that the construction of Phase I of West Rail will 
SSSpS of the Hong Kong Special Administrative Region 

Government around September 1998. 

Additional information is also available on the Internet at the following address: 
http://www.kcrc.com 


r#) 


KCR 


Iran’s Youth to Mark Anniversary 
Of 1979 Embassy Hostage-Taking 

Agence France-Pressr 

TEHRAN — Iran has intensified a political campaign 
against its arch-foe, the United States, ahead of the 18th 
anniversary of the seizure of the U.S. Embassy here. 

Officials have arranged for 18 million schoolchildren to 
start classes Tuesday with shouts of “Death to Great Satan.’ ’ 
the description of the United Stares since the 1979 Islamic 
revolution that toppled the pro-American shah. 

“At 8:00 on Tuesday, the cry of ‘Death to America* will 
resound in schools throughout die country,* ' said headlines in 
several newspapers Monday, while others identified the an- 
niversary as a “new occasion to express our anger at the 
United States.” 

Political groups of ail tendencies within the establishment 
plan major demonstrations outside the former embassy com- 
pound in central Tehran to mark the stoiming of the mission by 
radical Muslim students on Nov. 4, 1979, when 53 U.S. 
diplomats were taken hostage and held for 444 days. 

While a a official gathering wifi be organized in front of the 
embassy compound on Tuesday morning, radical university 
students will hold their own rally in the afternoon. 

At the official ceremony, the conservative speaker of 
Parliament, Ali Akbar Nateq-Nuri. will deliver a speech in 
front of the forma mission, which is now used as a training 
ground for elite Revolutionary Guards. 

Various state-sanctioned political and religious organi- 
zations have called for a large turnout to demonstrate the 
continuation of anti-American sentiment in the Islamic re- 
public. 


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Tourism Urged in Antarctica 

CANBERRA — Australia should lease two of its three 
Antarctic bases to other nations and create a permanent air 
link and summer tourism on the ice continent, according to 
a government report on Antarctica released Monday. 

The report, tilled Australia’s Antarctic Program Be- 
yond 2000. recommended sweeping changes to Aus- 
tralia’s entire Antarctic program, with greater emphasis 
on research with economic and national significance. 

“Australia must continue to conduct a science program 
in Antarctica and to maintain a national presence on the 
Antarctic continent,’ ’ said the report by the government's 
Antarctic Science Advisory Committee. 

Australia has had a permanent presence in Antarctica 
since 19M. when the first permanent station was es- 
tablished at Mawson. Two other bases, Casey and Davis, 
have since been established, along with a number of 
summer stations. (Reuters) 

Ontario Judge Clears Strike 

TORONTO — An Ontario judge refused to grant an 
injunction Monday to force 126,000 stiiking teachers 
back to work in Canada’s most populous province. 

“The attorney general has not established that the 
teachers strike has caused irreparable harm in the first 
week nor is it likely to cause irreparable harm in die near 
future,” Justice James MacPherson ruled. 

An illegal strike by teachers, the largest ever in North 
America, has kept 2.1 million students from class since 
Monday. ( Reuters ) 


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PAGE 8 


TUESDAY, NOVEMBER 4, 1997 


EDITORIALS/OPINION 


INTERNATIONAL 



PLUUSHED WITH TUE NEW YOU TIMES aHD THE WASHINGTON POST 


Poland Stays on Track 


Debate on NATO expansion is mov- 
ing ahead smoothly in the U.S. Senate. 
Many senators, who likely will vote on 
the matter early next year, ask tough 
and legitimate questions about cost, 
purpose, burden-sharing and more. 
Most also seem to have a solid un- 
derstanding of the gravity and impor- 
tance of welcoming new democracies 
into the Western security alliance. The 
odds seem good dial Poland, Hungary 
and the Czech Republic will Join. 

In that context, what happens inside 
Poland, in any case a key to European 
stability, takes on greater than ever 
importance in Washington; its politics 
are now the politics of a potential 
NATO ally. A new government was 
sworn in on Friday in Warsaw, one that 
should be true to Poland’s post-Com- 
munisi commitment to democracy, re- 
form and integration with the West. 

Elections on Sept 21 unsealed the 
ruling Democratic Left Alliance — the 
post-Communists, as they are com- 
monly known — and put into Erst place 
the Solidarity Election Action alliance 
— what you might call the post- Sob- ■ 
darity party. But the winners did not 
emerge with a clear majority, and so 
they have spent the past month bar- 
gaining to fashion a working coalition. 

The underlying question was how 
true Poland would stay to its chosen 
path of free market reform and in- 
tegration into NATO and the European 
Union. This is clearly Poland's best 
bet, but, as in other post-Communist 
countries, the transition has not come 


without pain. The Solidarity alliance 
represents a range of interests from 
liberal free marketeers to those es- 
pousing a narrower, more nationalist 
world view. Its supporters include 
many who have suffered most under 
the new regime — miners, farmers and 
factory workers who helped bring 
down communism but have seen their 
standards of living decline since com- 
munism fell. 

Fortunately, the alliance’s natural co- 
alition partner, having woo 13 percent 
of the vote, was th? Freedom Union — 
another offshoot of the original Soli- 
darity and one that is classically liberal 
and committed to reform. Together they 
have came up with a government that 
should be true to basic reform principles 
and sensitive to the needs of those in 
risk of being left behind. 

The new prime minister, Jerzy 
Buzek, is a chemistry engineering pro- 
fessor from the Solidarity alliance who 
is well trusted by all sides — regarded 
in Warsaw, as The Washington Post’s 
Christine S polar reported, “as a se- 
rious, thoughtful consensus -builder. * ' 
Mr. Buzek is not well known in the 
West, but he will be joined by those 
who are — including experienced and 
well-respected defense and foreign 
ministers and, as finance minister, the 
original architect of Poland’s “shock 
therapy” reforms, Leszek Baloerow- 
icz. Together they form a government 
with which Poland’s new allies can 
work comfortably. 

— THE WASHINGTON POST. 


Gulf War Illness 


Two independent reviews of the 
U.S. government’s handling of Gulf 
War illness have now made it ines- 
capably clear that the Pentagon is too 
biased to conduct a credible inves- 
tigation. Even after what appear to be 
genuine efforts to expand and upgrade 
its inquiry, the Pentagon, in the view of 
a presidential panel and a House com- 
mittee, remains so blindly convinced 
that chemical weapons exposures are 
of little import that it cannot seem to 
conduct a hard-digging inquiry. 

Whatever the Pentagon ultimately, 
concludes, neither veterans nor the 
public will believe that it has taken an 
objective look. 

The only way out of this deepening 
mess is for die president to put an 
independent agency in charge of the 
inquiry. If the White House fails to act, 
Congress will need to step in with 
legislation mandating that a more cred- 
ible body be pat in control. 

The weightiest charge of bias came 
in a report submitted to the White 
House on Friday by the Presidential 
Advisory Committee on Gulf War Vet- 


erans' Illnesses, an 1 1-member group 
ge of medical ana 


thar includes a range 
public policy expertise. The report has 
not yet been released, but a draft ver- 
sion made available to New York 
Times reporter Philip Shenon was un- 
usually harsh in its criticisms of the 
Defense Department 


Although the panel praised the de- 
foritsui 


partment for its upgraded research pro- 
grams and improved communications 
with veterans, it issued a scathing cri- 
tique of the Pentagon's handling of one 
crucial element of the puzzle — the 
possibility that exposure to chemical 
warfare agents may account for some 
of the illness reported by veterans. As 
the panel described it, much that the 
Pentagon has done, from battlefield 
surveys in 1991 to present-day ana- 
lyses, has biased its conclusions against 
the possibility that low-level exposures 
to chemical agents were a factor. 

To begin with, ail alarm and de- 
tection systems used during die war 
were set to detect only nerve agent 
concentrations that could cause acute 
symptoms or death. They could not 
detect lower levels of chemicals that 
might have delayed effects, and the 
main detectors could not detect any 
level of mustard gas. 

Moreover, the highly touted Fox 
vehicles bearing more sophisticated 
detectors were seldom able, under bat- 
tlefield conditions, to conduct the 20- 
minute, full-spectrum analysis needed 
ro confirm the presence of an agent 
Even when they did, only the most 
prevalent agent could be identified, 
malting it possible that heavy smoke 
from oil well fires might mask less 
dominant chemical warfare agents. 

With final confirmation seldom pos- 
sible, the Pentagon dismissed virtually 
all claimed detections of chemical war- 
fare agents as unproven. That brings 
sharp disagreement from the panel. 


From a credibility standpoint, the 
most damning criticism was of re- 
peated and continuing bias in the 
Pentagon investigation, even during 
die last 10 months, well after the 
Pentagon claimed to have cleaned 
up its efforts. 

The panel complained that the De- 
fense Department has failed to inves- 
tigate thoroughly and promptly pos- 
sible chemical detections, failed to 
present balancing but conflicting state- 
ments from its own experts, and down- 
played information that contradicts its 
relatively complacent view about 
chemical agent exposures. It noted that 
one of die Pentagon’s own consultants, 
die Mitre Corporation of Bedford, 
Massachusetts, had uncovered evi- 
dence that marines may have been ex- 
posed to poison gas as they crossed 
some mine fields. Although the 
Pentagon dismissed die report as being 
of poor quality, the panel judged it 
“impressive, high-quality” work 
wormy of investigative follow-up. 

The panel’s indictment follows an 
even more critical report prepared by a 
House subcommittee on government 
oversight, chaired by Christopher 
Shays, Republican of Connecticut, and 
approved by the full committee. In the 
introduction to that report, Mr. Shays 
called the investigations by the De- 
fense and Veterans Affairs Depart- 
ments "irreparably flawed” and 
“plagued by arrogant incuriosity and a 
pervasive myopia that sees a lack of 
evidence as proof.” 

What actually caused the illnesses 
reported by veterans, and whether 
chemical warfare agents played any 
role, are still open questions. But on a 
highly emotional issue involving sick 
veterans, it is crucial that the inves- 
tigation be diligent and scrupulously 
fair. The Pentagon's continued in- 
volvement in the inquiry is clearly vi- 
tal; it has the data ana much expertise. 
But the Pentagon has forfeited its right 
to remain in charge. 

— THE NEW YORK TIMES. 


Other Comment 


A Way Forward for Cyprus 


Greece and Turkey [should submit] 
their disputes in the Aegean to ar- 
bitration. Next, Greek and Turkish 
Cypriots should agree to a moratorium 
on nerve-jan g lin g overflights and im- 
plement the accident-preventing mea- 
sures suggested this summer by 
NATO. The Greek Cypriots should 
then postpone their proposed missile 
deployment. The Turkish Cypriots 
should accept some lesser status for 
their self-proclaimed republic. If real 
talks were started, the Turks might 
agree to reduce their forces on the 
island. Most momentous of all would 
be a declaration by both sides that they 
wanted in principle to see Cyprus join 
the European Union ... 

— The Economist (London). 


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IMF Orthodoxy Isn’t 



C AMBRIDGE, Massachusetts — In 
jost a few months the Asian eco- 
nomies went from being the darlings of 
the investment community to bring vir- 
tual pariahs. There was a touch of the 
absurd in the drama, as international 
money managers harshly castigated the 
very same Asian governments that they 
were praising just months before. 

The IMF has announced a second 
bailout package for the region, about 
$20 billion for Indonesia. That should, 
in principle, boost confidence. But if it 
is tied to orthodox financial conditions, 
including budget cuts and sharply high- 
er interest rates, the package ctmld do 
more harm than good, tr ansfo rming a 
currency crisis into a rip-roaring eco- 
nomic downturn. 

In the Great Depression, panicked 
investors fled from weak banks in the - 
United States and abroad. Since banks 
borrow short-term in order to lend long- 
term, they can be thrown' into crisis 
when a large number of depositors sud- 
denly line up to withdraw money. In the 
days before deposit insurance, indi- 
vidual depositors would all try to be 
first in line for withdrawals. 

In 1933 the Federal Reserve played 
it disastrously wrong. Rather than lend 
money to the banks to *»lm the panic 
and show depositors that they could 
indeed still get their money out, foe Fed 
tightened credit, as financial orthodoxy 
prescribed. Confidence sank, and the 
banking system crumbled. 

The Asian crisis is akin to a bank run. 


By Jeffrey D. Sachs 


is veiy different from the set of problems 
that the IMF typically aims to solve. 

The IMF's usual target is a gov- 
ernment living beyond its means, fi- 
nancing budget deficits by printing 
money at the central bank. The result is 
inflation, together with a weakening 
currency and a drain of foreign ex- 
change reserves. In those circtims tances, 
financial orthodoxy makes sense. 

Cut the budget deficit and restrict 
central bank credits to the government. 
The result will be to cut inflation and 
end the weakening of the currency and 
loss of foreign exchange reserves. 

In Southeast Asia, mis story simply 
does not apply. Indonesia, Malaysia, 
the Philippines and Thailand have all 


cies would need to foil against foe 
dollar so that their costs of production 
would be lower. It also became clear 
that with foreign lending diverted into 
real estate ventures, there was some 
risk- that the borrowers, -especially 
banks and finance companies, would 
be unable to service tire debts if the 
exchange rates weakened. 

After all, rentals on real estate de- 
velopments would be earned in local 
currency, while the debts would have to 
be repaid in dollars. 

The. wea knesses in the Asian eco- 
nomies were real, but far from fatal. The 


deeper strengths — high savings, budget 
surpluses, flexible labor markets, low 


Let the Asian currencies 
float downward so that 
exports will he cheaper 
and therefore more 
competitive. 


been running budget surpluses, not def- 
icits. Inflation has been low in all ofthe 


Investors are lining up to be the first out 
.Much oft) 


isaself- 


of the region. Much of the ] 
feeding frenzy. Even if foe economies 
were fundamentally healthy at foe start 
of tire panic, nobody wants to be foe last 
one out when currencies are weakening 
and banks are tottering because of tire 

ra *fr is sonrehonT^mforting, as in a 
good morality tale, to blame corruption 
and mismanagement in Asia for the 
crisis. Yes, these exist, and they weak- 
en economic life. But tire crisis itself is 
more pedestrian. No economy can eas- 
ily weather a panicked withdrawal of 
confidence, especially if the money 
was flooding in just months before. 

The IMF arrived quickly on the 
scene, but the East Asian financial crisis 


countries. Foreign exchange reserves, 
until this past year, were stable or 
rising, not foiling. 

The problems emerged in foe private 
sector. In all of the countries, inter- 
national money-market managers and 
investment banks went on a lending 
binge from 1993 to 1996. To a varying 
extent in all of the countries, foe short- 
term borrowing from abroad was used, 
unwisely, to support long-term invest- 
ments in real estate ana other non- 
exporting sectors. 

This year the bubble burst. Investors 
woke up to tire weakening in Asia’s 
export growth. A combination of rising 
wage costs, competition from China 
and lower demand for Asia's exports 
(especially electronics) caused exports 
to stagnate in 1996 and early 1997. 

It became clear that if the Asians 
were going to compete, their curren- 


taxanon : — remain in place, and long- 
tom growth prospects are solid. But, as 
often happens in financial markets, eu- 
phoria turned to panic without missing a 
beat. Suddenly Asia's leaders could do . 
no right. The money fled. • . 

In this maelstrom, foe IMF is now 
reportedly pressing foe Asian countries 
to raise existing budget surpluses still 
higher and to tighten domestic bank 
credit In foe Philippines recently, 
short-term interest rates were briefly 
pushed above 100 percent a year to 
meet IMF credit targets. 

And, in a move that is supposed to 
engender confidence but almost surely 
.does tire opposite, the IMF has re- 
portedly called on Thailand and In- 
donesia to close down several weak 
hanlra that have been caught up in foe 
boom-bust cycle of foreign lending. 

Since the treatment of depositors in 
such cases is open to doubt (deposit 
insurance is only implicit), these calls for 
bank closings also worsen foe investor 
flight from tire region. 

Of course, one can’t be absolutely 
sure what foe IMF is advising, since 
IMF programs and supporting docu- 
ments are hidden from public view. 
This secrecy itself gravely under- 
mines confidence. 

The Asian region needs more cre- 
ative policies than these. The first step 
would be for foe international invest- 
ment community to tell tire troth: The 
currency crisis is not foe result of Asian 
government profligacy. This is a crisis 
made mainly in tire private, albeit un- 
der-regulated, financial markets. 


The next step would he to let the 
Asian currencies float downward, so 
that these countries' exports will be 
cheaper and therefore more compet- 
itive. Once export growth starts to pit* 
up then panicked money market man- 
agers wilibegin to remember why they 
were until recently singing the praises 
of foe region. ‘ 

That is what happened after foe 1 994 
Mexican crisis whim money managers “ 
who swore they had left Mexico for 
godd quickly reconsidered in the wake 
of an export boom. 

Floating foe exchange, rate would ' 
have two more advantages! Foreign 
reserves would not be squandered in a ! 
failed attempt to defend the currency,- 
and interest rates would not iteod to be 
raised in an illusory quest to keep' the , 
currency strong. 1 

The third stop would be to moderate 
foe strong forces pushing Asia into a . 
recession, rather than odd to them. The ■ 
region does not heed wanton budget S 
cutting,, credit tightening and emer- 
gency frnnk closures. It needs stable or 
even slightly expansionary monetary 
and fiscal policies- to counterbalance ; 
foe decline in foreign loans. . 

Interest rates will drift higher as for- 
eign investors withdraw their money, 
but those rates do not need to be ar- 
tificially jacked up by a .squeeze on 
domestic credit. The regulation of the 
banking sector should be strengthened 
not by hasty bank closures but by push- 
ing weak banks to merge with stronger 
ones and by pushing the bonks to raise 
their capital bases. 

Southeast Asia surely needed a cor-, 
reeiion to restore competitiveness.- A 
moderate cut in foreign lending was 
needed; foe panic was not. 

If foe currency crisis is well man* 
aged, Asia will be able to resume its 
rapid economic growth. 

If it is managed with unthinking or- 
thodoxy, the costs could he very high, 
for Asia and foe rest of the world. - 


. The writer is director of the Harvard •», 
Institute for International Develop-' 
mem and an ecomwiic adviser to gov- , 
ernmenis in Asia and other parts of the .. 
world. He contributed this comment to : 
The New York Times. 


^ ( h l 0, 4 




v. 




For Human Rights in China, Point Out the Thailand Scenario 


W ASHINGTON — I was 
invited last week to a 
luncheon for China ’s president; 
Jiang Zemin. On my way, 
though, I had to stop off atmy 9- 
y ear-old daughter’s school, be- 
cause she was miming fix' treas- 
urer of the Burning Tree Ele- 
mentary student council, and 
she aim foe other candidates 
were giving their campaign 
speeches to a school assembly. 

After foe Pledge of Allegi- 
ance and “My Country Tis of 
Thee,’ ’ these grade school kids 
got up in front of their class- 
mates, one by one, and cam- 
paigned for votes, each prom- 
ising to do foe most to improve 
the schooL It reminded me how 
deeply rooted is foe American 
democratic experience. 

I went from there to the Jiang 
luncheon. The president of 
China explained that its crack- 


By Thomas L. Friedman 


down in Tibet in 1939 was ac- 
tually just like Abe Lincoln's 
freeing Of the slaves. Listening 
to him I thought; Does he really 
.believe this is playing here? 
They don’t understand the first 
thing about American demo- 
cracy, do they? 

How to bridge foe gap? Cer- 
tainly not foe way the Clinton 
team is trying. The president 
and foe secretary of state argue 
that the United Stales must “en- 
gage” China, not isolate it. 
Fine. The problem is that the 
Clintonites want to ’’engage” 
China on business and diplo- 
macy, but just “talk” to China 
about human rights. 

Washington has no prin- 
cipled, long-term strategy for 
engaging China on human 
rights. Ibis administration does 


human rights by sound bite or 
by name tag (“Won’t you 
please jus£,iplease,fois list of. 
dissidenpes from jail?’ *),,but with 
no strategy for engagement.. 

Most ofthe human, rights ac- 
tivists aren't much better. They 
compete for who can huff and 
puff at China foe loudest, but 
they, too, have no credible 
strategy for promoting human 
rights in any orderly fashion. 

Real engagement with China 
on human rights would have to 
include both an analysis and a 
strategy. The analysis should 
begin with what is happening in 
Thailand. Thailand is what hap- 
pens when an emerging market 
gets swamped with investment 
capital, but Lacks the regulatory, 
rule-of-law and accountability 
institutions to allocate it sens- 


ibly. The minute foe money 
stops rushing in, foe problems 
get exposed. 

China's leaders aspire to 
. have the same sort of author- 
harian capitalism as Thailand,. 
South Korea, Malaysia and In- 
donesia. But each of those 
countries is running into trouble 
today because its poor gov- 
ernance — its crony capitalism, 
insider dealing, loose regula- 
tion, weak rule of law, weak 
watchdog press — is finally 
showing up. 

If you start your dialogue 
with China’s leaders by telling 
them they have to become a 
democracy tomorrow, you will 
get nowhere. But if you tell 
them that unless they move to- 
ward a more law-based society, 
in line with international stan- 
dards, they are heading for 
Thailand II, there would be a 


basis for engagement. The Final 
communique from foe Wash-, 
inglon summit alluded to this, 
but offered no strategy or. 
money to do it. , m . . 

Says Micbaeljtosfncr, head of 
’foe Lawyers Committeefor Hut, 
man Rights; . v* ■ * . 

“The most effective way to 
'deal with the Chinese is to dis-“ 
cuss with them something that 
they are just beginning to real- 
ize and grope toward — rhar in 
foe long ran they cannot be a i 
modern, stable, prosperous so- ' 
ciety unless they begin to ad- 
here to minimum international i 
standards of due process, gov- 1 
eminent accountability, rule of ! 
law and transparency. 

“Therefore our strategy ; 
should be to make every official I 
U.S. contact with China, wheth- 
er it is by foe Slate Department, 
foe Commerce Department or 
the Environmental Protection 


% 


Starvation or Not, Let North Korea’s Regime Rot 


W ASHINGTON — The 
World Food Program 
says a steady stream of inter- 
national food aid may have con- 
tained widespread famine in 
North Korea. Whatever foe 
situation, when graphic images 
of dying children enter our liv- 
ing rooms, we are shocked by 
the horror of the food crisis and 
call for humanitarian aid The 
North Korean leadership knows 
this and permits selective fbr- 


By William J. Taylor and Glenn Baek 


t is even more grave and 
horrific about foe situation in 
North Korea, which we have 
not seen on television because 
the North's leadership will not 
allow coverage, are foe ap- 
palling human rights violations 
committed by the Stalinist dic- 
tatorship in Pyongyang. 

Studies by human rights 
groups and foe U.S. State De- 
partment say North Korea has 
one of foe worst human rights 
records in foe world. Illegal de- 
tention, torture, harsh prison 
conditions and extrajudicial 
killings are ail too common. 

According to a report by 
South Korea’s National Unifi- 
cation Ministry, there are more 
than 200,000 political prisoners 
in 12 prison camps, where many 
die of starvation or cold. 

A former North Korean dip- 
lomat, who defected in 1991, 
recently told one of us that a 
cruel but usual method of ex- 
ecution in prison camps is d ea th 
by freezing. In winter, prison 
guards tie people to a metal 
pole, strip them naked and pour 
cold water over their bodies so 
that they freeze to death. 

The terra “human rights” 
exists in the North Koran con- 
stitution. Article 63 stipulates 
that citizens have foe right to 
equality, and Article 67 permits 
freedom of speech, assembly 
and association. In reality, the 
concept of human rights is so 
remote from North Korean 
people’s minds that it practic- 


and social interests take 
cedeoce over foe rights or in- 
dividuals. This enables foe re- 
gime to justify its dictatorial 
rale under foe pretense of elim- 
inating “class enemies.” 

Limited individual rights ap- 
ply only to the privileged mem- 
bras of the Korean Workers’ 
Party and those who subordi- 
nate themselves uncondition- 
ally to foe regime. 

People live in constant fear of 
death, for even the slightest in- 
fraction against foe political 
system means execution or im- 
prisonment. “They treat the 
people in North Korea like ma- 
chines, not humans,” said the 
former North Korean diplomat 

The Clinron administration 
views the promotion of human 
rights and democracy as one of 
foe fundamental goals of U.S. 


A military coup? 
Revolution? 
Anarchy? Who 
knows? Just let the 
regime go down. 


foreign policy. To apply this 
Stan 


aU^means nothing. 


fnder North Konsa’s collec- 
tivist principles, group rights 


policy in Asia, foe State De- 
partment diligently provides 
democracy assistance programs 
to China, Burma, Mongolia, 
Cambodia, Indonesia, Vietnam - 
and foe Philippines. 

These programs range from 
enhancing respect for foe rule of 
law and human rights to fos- 
tering transparent and account- 
able governance. “ 

Nowhere in this picture do 
you find North Korea. If one 
country deserves attention and 
opprobrium on human rights, it 
is foe so-called Democratic 
People’s Republic of Korea. .'. 

The country functions as an 
Orwellian state, where every fa- 
cet of people's lives is closely 
monitored and tightly con- 


trolled. In short, North Korean 
rights practices make C hina 
look like a saint 
The absence of North Korea 
from foe democracy assistance 
program is attributable to foe 
fact that foe U.S. government’s 
policy toward foe Communist 
North is not clearly defined. 

While the Pentagon per- 
ceives North Korea as the 
greatest threat to U.S. security 
anywhere in the world, foe State 
Department advocates a policy 
of ^‘selective engagement” to 
reduce tension, induce reform 
and promote peace on foe 
Korean Peninsula. What are 
Congress - and the American 
public to think? 

Implicit in foe advocacy of 
engagement is the recognition 
that no progress can be made in 
foe rights situation without for- 
mal diplomatic ties between foe 
two countries, and since none 
exist there can be no leverage to 

g ressure Pyongyang to improve 
te treatment of its citizens. 
Conventional negative mea- 
sures such as restricting arms 
sales, opposing loans from in- 
ternational financial institu- 
tions and cutting off bilateral 
and multilateral assistance are 
inapplicable to North Korea. 

At foe same rime raising the 
issue of human rights with 
Pyongyang might be. counter- 
productive to current U.S. ef- 
forts to bring North Korea to 
peace t alks , since any mention 
of human rights to North 
Koreans during negotiations 
will arouse their ire. 

However, there is leverage in 
“doing nothing” either to help 
or to harm North Korea. 

Without further food aid, an 
unknown number of North 
Koreans would probably starve. 
But with food aid foe dictat- 
orship in Pyongyang survives 
longer to inflict, human rights 
honors on its own people. 

Select whichever moral ar- 
gument you wish. We prefer to 
see the U.S. government do 


nothing and let foe dictatorship 
in Pyongyang go down sooner 
rather than later. 

How will foe regime go 
down? A military coup? Revo- 
lution? Anarchy? Who knows? 
Just let it go down. 

- Justifying a policy of ‘ ‘doing 
nothing” is not easy for the U.S. 
government Nevertheless, bu- 
reaucrats can take action by 
promoting a concerted interna- 
tional effort to show the world 
what the regime truly is — a 
total Communist dictatorship 
thar does horrible things to its 
own people. 


M r. Taylor is senior vice pres - 
idem for international security 
affairs at the Center for Stra- 
tegic and Imernational Studies 
in Washington, and Mr. Baek is 
a research analyst there. They 
contributed this comment to 
The Washington Post. 


Agency, include programs for 1 
promoting more rule-based de- i 
cision-making there. That is j 
good for China, for business ! 
and for human rights." ", 

It was veiy telling to see who 1 
was invited to foe state dinner ! 
for President Jiang — scores of | 
U.S. business titans and one hu- 
man rights activist. Shame off- 
the Whale House. 

Asia Watch, foe Lawyers 
Committee and Amnesty Inter-”’ 
national get invited to foe White., 
House for 45 minutes to “talk"y 
to a Clinton aide about human ™ 
rights in China. IBM, AT&T 
and Disney get invited to foei 
state dinner to “engage" with 
Jiang Zemin on business. 

But it is precisely foe busi- 
ness titans who are always 
telling China that it is different 
from Thailand, that it is spec ial, : 
that it is an elephant that can flyJ- 
Well, elephants can't fly, pat 
least not for long, and if wo 
don't help China build a para- - 
chute, one day it’s going to fall 
with a world-shaking thud. .* 

The J Vcir Fort Times 



'"'Lilli* 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO:,’ 


1897: Silver Co inag e 

PARIS — ’Hie five Powers of 
foe Latin Union — France, Italy 
Belgium, Switzerland and 
Greece — have just signed a 
convention, extending the limit 


who will remain the spiritual; 
head of the Mohammedan.^* 


world, bur will be stripped of all 
in foe 


of the coinage of small silver 
money, fixed 1 


by previous con- 


„ — o by previ 

ventions. Switzerland, owing to 


, . ■ . --Mil**, uwiug IU 

the insufficiency of small silver 
change, took foe initiative in this 
matter. Each of foe five Powers 
may henceforth increase its 
small stiver money on foe basis 
of one franc for each inhabitant. 


temporal powers in "t}>e O mo- 
man dominions. This decision 
is the culmination of foe rivalry 
u ?- as lo ”S e xisted between 
the Kemalist Government ul 
Angora and the Sultan’s Gov- 
ernment at Constantinople. . 


X922: Sultan Deposed 

CONSTANTINOPLE — The 
National Assembly at Angora 
has decided to depose foe Sul- 
tan and abolish foe Sultanate as 
foe form of government of the 
Ottoman Empire. At foe same 
nme it resolved to retain the 
Caliphate, but to choose a new 
Caliph from among foe mem- 
bers of the House of Othman 


1947; Fleeing Poland' f - 

LONDON — Stanislaw Mikpn 
jajezyk. leader of the opposition 
Polish Peasant party and one.- 
time Pome Minister ofthe Pol- 
ish govemmcni-in-exile duriag_ 
the war, arrived in England, 
aboard a Royal Air Force plane 
from Germany after escaping, 
iron Warsaw on October 20, "L 


wn w arsaw on October 20 , . 1 
receded news on October I® 


wtt wviuwl 1^1 

that I was to be arrested apq r ^/ : 


. uunn wisn to be lulled, so, 
1 r ,^ Varsaw with several. oL 
my followers on October 20.’ 1 ” 





i£c\ 




PAUL 9 


OPINION /LETTERS 


% * ; Trying to Win Over the World, 
Or F oreign Policy as Love-In 


; By William PfafF 

°H Anx:iiam . No doubt this is related not only to Amer- 
menTsckiimeri tmie»h!S^3Sf ,1Ie S° verQ - icon political cxccptionalisin but to American 

“■*&»■ AmericaiftoSntism 5s mission- 
ed even lie th f a PPE5 vaI and evangelical, and holds that salvation 

ana even ine affection of outer nations. Thev rvmrc Hu rofet;™ 


- , nations. Tbey 

,;v afcowanrro bestow on other nations standards 
V ■ dptwill allow Americans to approve of them. 
•This was evident last week when 


rhinese r w ^? k when *** The Europeaa Catholic tradition is ration- 

Sinir Faitt may be a gift, but its foundation is 


.*» 

' _*tr 

.'S 


til 


iiaii.iml See 


1 . 

* 


United States. One might think a state visit 
aa impersonal occasion, with light negoti- 
apons, contract signing, some calculated im- 
age-making for television, and those dinners 
and entertainments which eminent persons 
offer one another to ease their boredom. 

^ i Instead the visit saw an intramural brawl 
among Americans over how lovable or re- 
.;c pugnant China should be considered. Does it 
'' (Jdeserve America’s friendship? One side said 
v “p\” since China oppresses Tibetans, sup- 
presses foreign religions, imprisons dissidents 
and b rutall y defends it all, insisting it will brook 
' no interference with its recovery of Taiwan. 

Other Americans said that the Chinese 
non ethele ss have good hearts, and when their 
government becomes democratic — surely 
very soon, under the warmth of American 
o persuasion and the influence of American 
investment — the two countries will become 
'*5 not only friends but allies in keep ing order in 
Asia. This, more or less, is the Clinton ad- 
ministration ’s position. 

, Americans need to feel good about the 
■ v. countries with which they deal in order to feel 
•V good about themselves. There has to be an 
affective relationship — even negative, if it 
can’t be positive — with every major country 
'■ important enough for the American public to 
. P?y 't attention. 

| The United States is incapable of dealing 
unemotionally with China. It cannot simply 
-. deal with the political and economic interests 
involved, and at the same time admit that 
. v China is a distant civilization of which Amer- 

- icons have always known little. 

! Americans want the Chinese as customers, 
but also as converts to American ideas. Bill 
. Clinton’s mother was once quoted as saying 
that when her son entered a room he an 
unfailing instinct for picking out the person 
who disliked him. He would head straight for 
that person to win him or her over. 

1 The United States is rather like that. If other 
nations dislike America, Americans think it 

— can only be that they are ideological enemies 
i. or '‘rogue nations,” or that there is some 

.tragic misunderstanding. 
d '■ ‘ The French are the other people who dunk 
‘ their nation and civilization a model for the 
world as indeed they were in the 17th and 
18th centuries, and remain for some even 
: now'. But the French don't go out to make 
frifcnds and win the hearts of otters. 

They are arrogant enough to think that the 
world will eventually come to them, compelled 
by logic to recognize France’s superiority. 

The French h'ave. a deep confidence, often 
misplaced 1 in logic. But America seOfcs a 
conversion of the heart 


terests have nothing to do with the person- 
alities, or likes and dislikes, of their leaders. 

You or I do not demand good personal 
chemistry with the vendor when we buy a 
house or car, or make a business deal. It’s nice 
to have, but it’s DOpessenriaLItmighi even be 
a distraction from the business at h^n d- 
AI1 of this is why the United States is so 
often frustrated in foreign policy. It can never 
have what Americans really want, which is 
conversion. 

When Washington says it wants cooper- 
ation with (Tima, this means cooperation in 
what Washington thinks ought to be done. 
Washington wants “shared values” — but no 
“Asian values,” please. 

It wants trade relations that give American 
business access to 2 billion potential cus- 
tomers. But it does not want prison labor 
exports, nuclear technology diversions, pi- 
rated software or awkward trade surpluses. 

Washington believes that it can eventually 
have all of what it wants because, in Wash- 
ington, it seems self-evident that all tins is 
what the Chinese should also want 
The Chinese are also victims of certitude. 
They believe with utter certainty in the 
primacy of their own civilization. Their for- 
eign relations have traditionally been those of 
a central civilization dealing with inferiors and 
tributaries, whose ideas are of no interest 
Americans may believe in the invincible 
superiority of their civilization, but they want 
to be reassured. They look for validation in the 
conversion of others to American ideas. Thus 
the permanent advantage is China’s. Wash- 
ington has yet to understand that - 

' International Herddfriimite. •~ r ' m 
& Los Angeki Times Syndicate. • ■ 


SJlillf 


U..I 



LETTERS TO THE EDITOR 


JVo Sympathy 

■ i As someone who had io 
jump out of bed at 3 A.M. tp a 
howling siren and watch my 
children and my ailing moth- 
er trembling as they put on 
their gas masks and huddled 
behind taped windows wait- 
ing to be gassed, I don’t feel 
terribly charitable toward 
Saddam Hussein and his suf- 
fering populace. It is revolt- 
ing to see a mani ac cause suf- 
fering in order to use it 
cynically as a tool. 

If Saddam Hussein wants 
his people to stop suffering 
because of embargoes, let 
him give up his weapons. 
Surely the savvy politicians 
of the world cart see through 
him. Or are they waiting un- 
tiJ.'he develops chemical 
^weapons that can reach their 
! Waihilies before they say 
“enough”? 

• - PN1NA ISSEROFF. 

1 Ra’ an arm a, Israel. 

Au Fair Trial 

My wife and 1 have been 
following the trial of Louise 
Woodwind in your newspapw 
and on television. We find « 
' pathetic and heart-wrenching. 
’ seems to us the wrong 
person was put on trial. W® 
cannot imagine that the moth- 
er of an 8-raomh-old baby and 
a! '2-year-old child would 
leaVe her children in the tare 
of/ah adolescent from another 
country, for days on end, and 
then blame that teenager — - 
k point of having her sentto 

" ja2 for life — for having tra- 
gically mismanaged (assum- 
ing that she did) her assign- 


We feel quite strongly that 
the mother, not Miss Wood- 
ward, is the person who 
should be put on trial: for neg- 
ligence in her most sacred of 
duties — motherhood. 

RAJA G. MATTAR. 

Boulogne, France. 

Helping the South 

Regarding "When Global- 
ization Means Shutting Out 
the Working World” ( Opin- 
ion, Oct. 29) by David Fried- 
man: 

Mr. Friedman s attack on 
an “exemption” from green- 
bo use-gas limits for develop- 
ing countries fails to recog- 
nize the basic logic and justice 
of letting these nations reduce 
their emissions more slowly 
than the developed countries. 

By giving developing 
countries some leeway, there 
is a greater likelihood that 
they will act earnestly in the 
future. To insist that they act 
in tandem with the industri- 
alized countries would be un- 
fair because the latter are dis- 
proportionately at fault for 
the emissions problem. 

Second, Mr. Friedmans 
belief that the climate treaty 
would “shift the world’s 
dirtiest industries to the most 
disadvantaged nations _ 1 8" 
aores the reality ofthechmate 

negotiations. “Joint imple- 
mentation” — whereby in- 
dustry in the North more cost- 
effectively makes emissions 
reductions in the South — not 
only makes economic sense 
but means that the developing 
countries would have some of 
the newest, cleanest industrial 
facilities. Quite the opposite 
_ e UfiMtman s conclu- 


sions, this would make the 
South cleaner, not dirtier. 

PAUL G. HARRIS. 

Oxford. England. 

Drink and Drugs 

Regarding “ Sweden Keeps 
Its License, EU Upholds State 
Monopoly on Alcohol Sales ” 
(Oct. 24): 

A Scandinavian official re- 
sponsible for health and so- 
cial affairs said that the EU 
decision to uphold Sweden’s 
state monopoly was “proof 
that the European Union un- 
derstands that alcohol policy 
is part of our Nordic welfare 
state ideology.” 

“The. decision enables us 
to conduct a nati onal alcohol 
1 based on our own na- 
i needs,” he said. 

Yet a national drug policy 
that enables the Dutch to 
pnalcp. a distinction between 
soft drugs (cannabis) and hard 
drugs meets with strong op- 
position in Nordic countries. 
The splitting of the drug mar- 
kets m the Netherlands has 
proven a successful means of 
keeping young people away 
from chugs like heroin. 

hi Amsterdam, only V2 
percent of heroin addicts are 
undo - 22 years of age, and the 
percentage has been dimin- 
ishing for some years. The 
average age of heroin addicts 
in Amsterdam is 36.4 years 
and is rising every year. 
Clearly, almost no young 
people are entering that 
group. 

Leave us in the Nether- 
lands our own policy based on 

our own needs. 

. IANHUIB BLANS. 

Amsterdam. 


occurs by a direct relation between God ami 
man. The individual “finds Jesus” in his 
heart and is saved. 


reason. Religious “enthusiasm,” the very 
core of the American Pentecostal tradition, is 
to the Catholic theologian a sign that emotion 
has displaced reason. That way lies heresy. 

Officials of the Clinton administration, and 
most press commentary, insisted during the 
preparations for Mr. Jiang’s visit that what 
would count would be the “personal chem- 
istry” between Mr, Clinton and Mr. Jiang. 
Wiry should this be so? The countries’ in- 


There has to be an affective 
relationship with every 
country important enough 
for the American public to 
pay it attention. 


Good-bye to Mr. Capps , a Nonpolitical Politician 


S anta Barbara. California 
— In an era when politicians rely 
on sound bites and routinely demon- 
ize their opponents, Walter Holden 


Mr. Capps, 63, was only 10 months 
into his first term io the House when 
he suffered a fatal bean attack last 
week at Washington’s Dulles airport. 
Bat for three decades he was a 
revered professor at the University of 
California at Santa Barbara, where he 
taught religious studies and pio- 
neered in reconciling those who had 
fought in the Vietnam War and those 
who had protested against it. 

Mr. Capps sought me out in 1993 to 
say he wanted to run for the House 
seat then more or less occupied by the 
multimillionaire Michael Huffingion, 
who was leaving to nm for die Senate. 
We had lunch, and I told him that, as a 
journalist, 1 didn't advise candidates. 

Mr. Capps persevered, and I said 
too bluntly that it was unlikely that a 
60-year-old professor who had never 
run for anything could win a district 
that hadn’t sent a Democrat to Con- 
gress since the New Deal. 


By Lou Cannon 

But Mr. Capps was unfazed. He 
said he had been interested in public 
policy all his life and had learned as 
a teacher that he could bring people 
together. 

His friend Bob Kerrey, the senator 
from Nebraska, had told him that this 
quality was needed in politics. As 

MEANWHILE 

Mr. Capps saw it — he was “Wal- 
ter" by this point and ever after — 
cynicism about politics was under- 
mining democracy. He blamed neg- 
ative campaigning and said people 
would respond to ideas if candidates 
were willing to discuss them. 

During our long lunch, Walter 
touched on spiritual values. Abra- 
ham Lincoln’s second inaugural ad- 
dress (“The prayers of both [sides] 
could not be answered; that of 
neither has been answered fully”') 
and the legacies of the Vietnam War 
and the Cold War. He was charming. 


erudite and idealistic. I thought he 
was also hopelessly naive. 

I changed my opinion the next 
year, when I taught at the university 
where Mr. Capps was such an icon. 
There I learned that Walter’s classes 
on the Vietnam War had to be sched- 
uled at the largest hall available be- 
cause 800 students would sign up. 

Walter ran for Congress in 1994. 
He upset two rmditional Democrats 
in the primary and faced a conser- 
vative Republican in the general 
election. His opponent was vulner- 
able on abortion rights in a pro- 
choice district, but Walter refused to 
run negative attack ads against her. 

He lost narrowly. When I asked 
him about his refusal to “go neg- 
ative,” he said he had no regrets. Bui 
he was now branded a hopeless can- 
didate by ambitious members of the 
local Democratic establishment. 

Walter infuriated them when he 
decided to run again in 1 996. 

He was by now better known ;ind 
was doing well in his campaign until 
May 26, 1996, when he was nearly 
killed in a head-on automobile crash 


caused by a drunken driver on a 
mountain road. 

The accident left Waller’s cam- 
paign in the hands of outside pro- 
fessionals, who engaged in the neg- 
ative advertising that was prevalent 
on both sides as the two parties 
struggled for control of Congress. 
But Walter never made a personal 
attack on his opponent. 

And at the Democratic National 
Convention, he was the only can- 
didate to use his air time to promote 
the constitution and the values of 
panicipaioiy democracy rather 
than himself. 

When he died, the chairman of the 
university's department of religious 
studies talked about “the spark that 
Waller kindled" and said. “Today is 
one of the saddest days of my life.” 

It is sad for all of us. Walter Capps 
was a kind and thoughtful man who 
as professor and politician instructed 
people in the values of democracy 
and the power of reconciliation. 1 
feel privileged to have known him 
as a friend. 

Th Hj.iJtHliShvj Pi‘M 


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Simon Doonan's window display at Whitney Museum, left; Versaces Marilyn dress, below; Stephen Sprouse’s robot prints ; Oscar de la Renta and Geoffrey Beene dresses in Saks' window; Sprouse’s Warhol screen-print dress. 


New York Goes Pop! With Tributes to the World of Warhol 


By Suzy Menkes 

International Herald Tribune 


N EW YORK — From graphic 
screen-printed dresses, and 
striding store-window dis- 
plays to a landmark exhibition 
at the Whitney Museum of American 
Ait, one name is dominating the new 
fashion season: Andy WarhoL . 

1 The New York shows went pop when 
Stephen Sprouse opened the collections 
Saturday with original Warhol prints — 
advertising messages, blown-up theater 
tickets and screen-printed robots — on 
baggy pants and geometric dresses. The 
designer, making his fashion comeback 
in the 1 990s, produced the eerie effect of 
the twig-thin Edie Sedgwick and fellow 
groupies parading through the Warhol 
Factory 25 years ago. 

“Fantasy and clothes go together a 
lot." f All quotes by Warhol.) 

At Saks Fifth Avenue, the scene was 
equally surreal, as rain -soaked survivors 
of Sunday’s marathon, wrapped in silver 
foil capes, paused to take in windows 


where a Geoffrey Beene dress was jux- 
taposed with Warhol’s self-portrait in 
drag, and die artist’s Marilyn prints 
formed a backdrop to a glamorous Oscar 
de la Renta gown. 

On Madison Avenue, Barneys 
achieved the meltdown of art and fash- 
ion that is the Warhol legacy. The store’s 
creative director, Simon Doonan, has 
produced tribute- to-Warhol windows — 
mixing black-and-white dresses by cur- 
rent avant-garde designers, with mono- 
chrome reportage of the Warhol era pho- 
tographed by Roxanne Lowitt, against a 
shiny silver re-creation of the Factory 
interior. 

Meanwhile, a few blocks away at the 
Whitney. Doonan’s creative window 
dressing is celebrated at the museum 
show. 

" Everything in your closet should 
have an expiration date on it the way 
milk and bread and magazines and 
newspapers do." 

“The Warhol Look/ Glamour Style 
fashion" is one of those rare exhibitions 
that lives up precisely to its title. Or- 


ganized by die Andy Warhol Museum in 
Pittsburgh, and slated to travel to 
Toronto, London, Marseille and Sydney, 
the exhibition looks at the legendary pop 
artist's obsessions with glamour and 
style, from his early beginnings as a stare 
window dresser and commercial artist 
That is shown in die witty 1950s win- 
dows fra: Bonwit Teller that had ladylike 
chesses alongside Warhol’s ownpopcar- ■ 
toons and in the fashion illustrations of 
elegant gloves and poihted-toc pumps.' 

“His work included painting, sculp- 
ture, Interview magazine, film — all of 
those things intertwined,' ' said Margery 
King, associate curator of die Warhol 
Museum. “There were no boundaries. 
Like a great fashion designer, he pulled 
it from everywhere,” 

The metamorphosis of the commercial 
artist in a nondescript suit, from the 
funky creator in black roll-neck sweater 
and leather jacket, to the iconic image of 
Warhol with blond thatched wig as male 
model in the 1 980s, is artfully developed. 
Alongside the unfurling personality, are 
his creations and those he inspired in 
others: the artist’s collection of press 


Request for Expression of Interest 
for Design-Build Contracts 


The Kowloon-Canton Railway Corporation (KCRC) invites expressions of interest from p re-qualifying contractors for the following 
design-build packages for Phase 1 of West Rail, a 30.5km, double-tracked, electrified railway system providing passenger 
services to Hong Kong's Northwest New Territories with a maintenance depot and 9 stations. 

I 

DESIGN-BUILD CONTRACT DB -3 20 
Kwai Tsing Tunnels 

Thisi'contract encompasses the design and construction of the tunnels (approximately 3,600m in length) from Ching 
Cheung Road in the south to Wing Shun Street in the north. The railway will proceed northwards from Ching Cheung 
Road through rock tunnels (approximately 1,700m) then transition to a cul-and-cover tunnel (approximately 680m) to 
pass below Kwai Chung Road and follow Kwai Fuk Road to Hing Fong Road. From there the alignment reverts to rock 
tunnels (approximately 1,100m] and finally to a cut-and-cover tunnel (approximately 120m). The work is planned to 
commence in fate 1 996 with construction to be completed by early 2002. 

DESIGN-BUILD CONTRACT DB-350 
Tai Lam Tunnel 

This contract encompasses the design and construction of the tunnel (approximately 5,500m in length) beneath 
the Tai Lam Country Park. The railway will proceed from south of Castle Peak Road in Tsuen Wan to the northern portal 
in the Kam Tin Valley. The contract will include the development of the tunnel's southern and northern portals and a 
short section of line on an embankment to an interface with the West Rail Depot. The work is planned to commence in 
late 1998 with construction to be completed by late 2002. 

Detailed descriptions of the scope of work activities and programme requirements will be included in the 
Qualification Questionnaire. 

Requests fora Qualification Questionnaire should be made in English on company letterhead by facsimile to the 
Kowloon-Canton Railway Corporation, Attention: Procurement Manager at (B52) 2601-2671 . Requests for Qualification 
Documents received by the Corporation after 29 November 1 997 may be too late for consideration. 

KCRC will, at its sole discretion, evaluate responses to the Qualification Questionnaire. The tender documents will require 
parent company guarantees in respect of each entity. Tenderers will be required to provide a tender bond 
the value of which will be determined at a later date. 

No communications in response to this advertisement will be accepted by KCRC except by facsimile at the above 
noted facsimile number. 

This procurement activity is covered by the World Trade Organisation's Government Procurement Agreement. 


Interested firms are advised that the construction of Phase I of West Rail will be subject 
to the approval of the Hong Kong Special Administrative Region Government around 
Septembe r 1998. __ __ 

Additional information is also available on the Internet at the following address: 
http://www.kcrc.coin 




KCR 


photographs of Monroe, his Marilyn 
screen prints of 1962, and Gianni Ver- 
sace’s 1991 rendition of the print on & 
slinky dress; the famous Warhol Brillo 
box made into a dress and photographed 
on the dance flow; the Day-Glo cam- 
ouflage outfits that Sprouse, a Warhol 
protegd, re-created in 1988. j 

"They’re simple, and , thpttY:whar 
American clothes should be.". 

■■ Mark Francis, ther exhibition’s cur- 
ator, says that the challenge for him and 
King was to “put all these things to- 
gether,” referring both to Warhol's 
range, and to the feet that the artist never 
threw anything away, leaving a daunting 
archive ofmateriaL That magpie quality 
was wittily expressed by a Barneys win- 
dow in 1989, where a Warhol effigy was 
surrounded by everything from Coca- 
Cola bottles to soup cans. 

"Looking at store windows is great 
entertainment because you ccm- see all 
these things and be really glad it’s not 
home filling up your closets and draw- 
ers ." 


A serendipitous juxtaposition of 
archive objects is a 1960 illustration of 
wigs, beside Warhol’s own wig, splayed 
flat as a framed object That is in the 
room devoted to “Drag and Transfor- 
mation," which emphasizes how the 
artist pioneered fashion’s explorations 
of gender identity. 

The exhibition might have suggested 


a connection between Warhol’s glor- 
ification of commercial art and fashion’s 
increasing reliance on marketing. In- 
stead, portraits of designers make a 
straightforward connection with fash- 
ion. They include Sprouse, all sulky and 
spiky haired, an introspective Yves Saint 
Laurent (in an early 1974 portrait), a 
; brooding Versace and a piercing-eyed 
: .Am\asii n yfSm Qrow, Haiston add the 
■(Writt Antwioare a doomed fashion trio 
of the Warhol era. 

"Fashion wasn't what you wore some- 
place anymore: it was the whole reason 
forgoing^ 

Was fashion peripheral or central to 
Warhol’s vision? The exhibition does 
not draw any conclusion, but Francis 
says that the artist made “no distinction 
between work and play — it was ail 
constant activity.” The show’s strength 
is in emphasizing Warhol’s continuing 
influence on fashion. Tt draws a com- 
parison between Steven Meisel’s strik- 
ing campaign of strung-out kids for a 
recent Calvin Klein aid, and Richard 
Avedon’s life-size frieze of a naked 
Warhol and his Factory crowd in 1969. 

So-called avant-garde designers may 
be surprised to discover that their pas- 
sion for deconstruction is nothing new: 
Warhol’s “composite* dresses of 1975 
took apart and reassembled designer 
clothing for a '.'Fashion as Fantasy” 
exhibition in 1975. 

"Think rich. Look poor . " 


For the fashion crowd, invited to pre- 
view the Warhol show by the Council of 
Fashion Designers of America, the show 
was both & poignant reliving of persoa# 
memories and a fount of gossipy mar 
terial — libs the filmed interview with 
Diana Vreeland — and the pair of un- 
derpants, autographed by. Calvin Klein 
“For Andy, Merry Christmas 1984.” 

But: .doesn't sach..au:i exhibition; 
however meticulously researched, just 
reinforce current fashion’s obsession 
with its own past? Sprouse's show vtffij 
full of back-to-the- 1960s imagery, h) 
spite of current rock stars like Iggy Pop 
and Flea of the Red Hot Chili Peppers 
sitting in the front row, the mood wa$ 
retro, rather than forward-looking. 

"All you’ve got to do is look right and 
anybody will be happy to feed you , no 
questions asked ." J 

But that cannot take away from War-i 
hoi’s extraordinary legacy to fashion. He 
celebrated visual extravagance; he wove 
the thread linking uptown fashion with* 
high camp and lowlife; he glamorized 
the culture of the night and the cult of 
celebrity. He made underground maini 
stream, and his own photographs and 
film are a vivid sociological record. J 

Warhol deserves this exhibition that 
celebrates his role as Svengaii and show- 
man in 20th century fashion. 

(Warhol quotes from "Style. Style] 
Style," compiled by R. Seth Bright, pub- 
lished by Little, Brown and Co.) 


linking Ah 

CTO: T 




Sotheby’s Plunges Into High Fashion • 

N E csgs.-. t .„ 

? nn ^j W ^ a £? t 5^^P d «^ oosh i <>the le " a steal compared to buying from a couture house 
the ulti m ate seal of approval to 1990s vintage 


Although the auction hous^ii u^fdi^t ° Ut * ** "E* 

silence about the hipyoong cUentSi^ted, a We^CoSt 

source says that Demi Moore led the bidding for the cream of a telephone dial ($ 1 Z65Dland s ^ a P e< ^^® 

ssaasssissssssssisa 

With its splendid “Paris a la Mode" catalogue featuring 
society beauties, from Princess Fnyal of Jordan through Tte catalogS^ 

Catherine Deneuve, the Sotheby’s sale was a social as wellls - oa stion of haute couture. 

a fashion event Two socialites fought over a 1 990 Valentino “ : 

Suzy Menkes 


aeurag ctomes at auction is not a new phenooemon, but we 
t ^J5S I ? lg iL the w S™ en A* dress, 1 ^saidTlSry Dubirv 

“''yomen don’t want to 


By Robert Byrne 

I N the game shown Gregory Kaktmov 
beat Gabriel Scfawartzman at the United 


SCHWAHT2MAN/BLACK 



KAtDANOV/WHTTE 

Position after 31 ...QM 


CHESS 

of the French Defense, in which Black gives 
up his central stroogpoint to bring about 
leveling ex change 

The advance with 8 h4 cannot do 
White any harm. He is surely thinking of 
castling on the queen's side, and 8...Bg5?I 
would be a serious error in opening the h 
file for a- white rook after 9 hg. 

With 12...cd, Schwartzman knocked 
out a center pawn, but after 13 Rd4, 
Kaidanov led in development and con- 
trolled more terrain. On 13 Rd 4 
Schwartzman erred with 13...e5?» and 
the result after 14 Rd2 a6 15 Rel Re8 
was that his forces were pinned down to 
me defense of the' errant e5. pawn. 
Kaidanov took a second pawn with 23 
Qb7, ready to answer 23-,Rb5? with 24 
25 Qe4- He stopped 
23..JRe5? by the reply 24 QbS. 

After Scbwaraman's 30- j 3, Kaidanov 
did not play 31 Qa3 because Black would 
hare had a hind wiih31_J4e4! 32 Qb2 Nc3. 
On 31 Ne5, Schwartzman calculated in- 
cooectfy by playing 3 l~Qh4? 

played 32 c4», which 
avoided 32 be? Qb4, winning outright for 
Black, put two black pieces en prise and, 
most important, openal a flight square at 
c2 for the white king. After32...Na4 33 cd 


<M 34 Kc2 Qb235 Kd3 Qb5 36Ke4, 
wmte king was on his way to freedom and 
behind * 

After J 0 ... 16 , Kaidanov carefully gave ' 

g* a «P!^ e "i* 37 Kfl fe 38 Qe4Kb8 S 

39Qe£Once the white king was secure* v 

Schwartzman had nothing to play ft# * - 
and gave up. •J . • 

, . ,B * 

FRENCH DEFENSE f\ * 

K*kiw cjs? White Black ' : 

Wnm Schw’man Kald>nov Sdtwman 

J SJ 20 Rd8 - Rd8 ’ 

\h T SB Si-. 

•§ SB -Bs K 

■ g a s? v- 

ia » sa v * f- 

lisa g P** 3 

i4 SS S g« {“■* /: * ' 

ISQel 52 MKc2 38 

g rq 


0‘ - 
‘I . 






V* 



For you.„ We blossom every day. 




-Tt* 4 V WTEKSATIOftAL^ • 4 

3 wralba^fe(fcnbttnc 

BUSINESS/FINANCE 


JR 


TUESDAY NOVEMBER 4, 1997 


PAGE 11 


For you.~ We blossom every day. 


China airlines *-, 

3SiW4f' • i.'l'-tt- 

har/ ft i m , M* » « * 1 wi ow n / 



iathers Asia Crisis 

America Seems to Have Learned a Lesson 


race down aisles to boy food before cferia 
coold: 

Henriqne 


By Anthony Faiola 

Washington Past Sendee 

RTIFNTlS a to pc rjauajac v^aowso omnnune a me prooiem uy 

T. it pegging the real to the U^.doHnr in 1993 — a 

g x^ 1 ^practicaIIyrnadchimaTiatijo^heto. 
^tles. By raising inbred rates, the central bank 

Investor name led to Vnt- fougtetaek specnlatcra. But 

the threat is not over, and 
financial analysts s aid a clear- 
er picture would enrage in 
the coming days of how per- 
sistent speculators wouldbe. 

Yet, analysts say, when 
Brazil’s economy is com- 



, , to bil- 

■ lions of dollars of losses on 
. La tin American stock markets 

• last week. In Brazil the 

■ - hardest-hit nation and the re- 
; gion’s largest — speculators 
» . tried to' force the devaluation 
r ..of. the currency, die real, 
prompting the central bank to 
double interest rates 
' overnight. 

; But specialists say that 
' while Brazil's troubles may yet 

! worsen, possibly touching off a 
regional economic slowdown, 
, 'the foundations of most other 
Latin American economies — 


War! 



‘tigers,” its fundamentals 
are more sound. For ex- 
ample, Brazil’s current-ac- 
count deficit stands at 43 
percent of its gross domestic 
product. While 2 percent or 
lower is considered a healthy 
level, Thailand's current ac- 
count deficit soared to 8 per- 
cent just before its economic 
crisis. And although some smaller , banks had 
liquidity problems after last week’s crisis, 
there is no evidence the Brazilian banking 
industry has marie the kind of outrageously 
speculative loans on real estate and factories 
that were made in Asia and became one of die 


including those of Argentina, Brazd’s President Cardoso. 

♦Chile and Mexico — are far 
*more sound than those of the Asian countries 
. now caught up in financial t urm oil- Reflecting 
.rtaat view, stock markets across Latin America 
posted substantial gams Monday, 
i: Economists attribute T .arm America’s 

^strength partly to the 1994-95 Mexican peso 

^crisis that forced many countries to implement largest reasons for the collapse. 

*" conservative banking rules and fiscal policies. Although thf, B razilian central bank spent 
“Latin America has already learned its almost 15 percent of its cash reserves to shore 
a. lesson.” said Carlos Kawall, chief economist up the real last week, it still has far more in 
f for Citibank in Sao Paulo. ‘‘We’re not looking * reserves than most of its Asian counterparts. 

” Meanwhile, other countries in the region, 

especially Argentina, Mexico and Chile, stand 
on even firmer fiscal ground — mostly from 
having weathered die Mexican peso crisis. 

Chile, die region’s economic star because of 
its hi g h growth rate ami aggressive free- trade 


fax another Asia in Latin America. 

£ > But that does not mean things cannot take a 
fra* the worse, or that there are not sig- 
nificant risks in the region. Brazil, in par- 
ticular, still faces major economic hurdles. Its 
L economy remains the wild card that could 
scramble the performances of all the others as 
(hey become increasingly linked to I -a tin 
America’s biggest economic power. 

Brazil has a large trade defiat and a currency 
v^idely viewed as overvalued, making it more 
difficult to sell its products abroad. The gov- 
ernment’s decision to raise its key interest rate 
to 40 percent frran 20 percent annually also will 
aim make it harder to finance the billions S till 
needed to privatize the state-run industries. 

; '■■Economists warn that leaving interest rates 
too high fra - too long could cause a recession. 

Some department stores in Sao Paulo and 
!R$o de Janeiro already have said they will start 
tocortail credit this week, temporarily halting 
fong-term installm ent loans that have become 
so popular. 

lotto Brazilians, preventing the devaluation 


moves, has developed a complex financ ial 
system that limits the amount of foreign cap- 
ital that can leave the counity in a short period 
of time . Such measures make huge investor 
flight, as seen in Asia, difficult at best 

Mexico is slowly emerging from its worst 
recession in 60 years in the af termath of tire 
peso crash. But analysts said safeguards and 
precautions initiated as a result helped brace 
Mexico for last week’s global chain reaction 
and left the economy relatively unscathed. 

Three years ago, Mexico faced many of the 
problems now trooblmg Asian nations: run- 
away inflation, an overvalued currency, a weak 
h anking system, high narioQal debt and heavy 
dependence on short-tenn foreign investments. 
Today, its inflation is a comp arati vely mod- 
erate 15 percent, the peso has been one of the 



Omiei D»m*r«k/IV Anx fro** 

A security guard at Bank Harapan Santosa, which was dosed 
over the weekend along with 15 other failed banks, fending off 
depositors in Jakarta seeking access to their money Monday. 


of the' real, was most important. Devaluation world’s most stable currencies this year, and . J 
coold ha ve led to the return of hyperinflation, the nation has -shaply-CcBribed its foreign debt 
which' wasronce so bad that shoppers would and encouraged long-term foreign investment 


US Airways Orders 
124 Airbus Planes 


CtmqBoi by Our SUffFmm Doptachn 

TOULOUSE. France — Air- 
bus Industrie said Monday that 
US Airways Group Inc. had 
ordered 124 planes worth about 
S6.2 billion, a contract that put 
die European aircraft maker 
neck and neck with Boeing Co. 
in new plane orders this year. 

The contract, signed after US 
Airways pilots ratified a labor 
agreement last Friday, has ad- 
ditional options that could in- 
crease tiie order to as many as 
400 aircraft. 

Analysts said the order 
brought Airbus closer to meeting 
its goal of consistently winning 
50 percent of new plane orders. 
Boeing now has about 70 percent 
of the world’s airliner market. 
“It’s a significant order for Air- 
bos/’ said Chris Avery of Paribas 
Capital Markets Group. “In the 
North American market, where 
Airbus , had not done,, well, it’s 


very important for sentiment.” 

Airbus’s triumph comes as its 
Seattle-based competitor is go- 
ing through a painful period. 
Boeing said last month that it 
would take pretax charges total- 
ing $2.6 billion this year, and 
into 1 998, because of production 
bottlenecks caused by shortages 
of pans and materials and the 
need to train thousands of new 
employees. 

Airbus, meanwhile, said it 
would increase annual production 
to 234 aircraft in 1998, compared 
with the 1 85 planes forecast to 
leave its assembly lines in 1997. 
Airbus said the decision to raise 
its production rate was based on a 
strong order bode overall. 

It said its order backlog stood 
at 1,007 aircraft following the US 
Airways order. The total backlog 
is worth $693 billion. Airbus 

-See AIRBUS, Page 12 


Jakarta Takes Steps 
To Bolster Economy 


CmfiMln OxrSLtfFrrmatspa&i 

JAKARTA — In on attempt to 
strengthen its fragile economy, Indone- 
sia on Monday announced an array of 
reforms as part of a rescue plan designed 
by the International Monetary Fund. 

The government took steps to open 
up what has been one of Asia's fastest- 
growing economies, stripping the state 
of its monopoly on key imports such as 
wheat, soybeans and garlic. 

The changes complied with condi- 
tions on $33 billion in foreign loans 
linked to the IMF's second-biggest bail- 
out package ever. The largest, S50 bil- 
lion, went to Mexico in 1995. 

Indonesia announced the closure of 
16 insolvent banks last weekend, start- 
ling thousands of customers, who 
rushed to bank branches Monday to try 
to withdraw their savings. 

“I can’t believe it — I need money 
soon for my business;” said one ex- 
positor. who sells spare car parts. The 
government said it would reimburse in- 
vestors. 

Indonesia's economy has been 
battered by the spectacular falls in cur- 
rency and slock values that have swept 
Southeast Asia. The rupiah has fallen by 
more than 30 percent against the U.S. 
dollar since July, but it climbed Monday 
amid news of the economic reforms. 
(Page 16) 

The weaker rupiah is beginning to 
contribute to higher inflation. Con- 
sumer prices rose 1.99 percent in Oc- 
tober from September, the fastest 
monthly increase since January 1996, a 
government official said Monday. 
Higher food prices, driven up by the 
worst drought in a decade, also lifted the 
price index. 

But analysts said some of the mea- 
sures announced Monday should help 
contain rising food prices. In addition to 
ending the government's monopoly on 
wheat and soybeans. Indonesia also in- 
creased to 18 from 10 the number of 
commodities for which exporters could 
receive relatively inexpensive credit. It 
did not identity the eight additional 
commodities. 

The government also eliminated an 
administrative retail price for cement, 
cut some import and export taxes and 
encouraged gold jewelry exports from 
one of the world's biggest gold pro- 
ducers. 

In a move to woo foreign investment. 


ing tin 
Mr. 


the government also said it would allow 
foreign companies manufacturing in In- 
donesia to distribute and their products 
and sell them wholesale. Full retail sales 
would be allowed from 2003. 

’ The IMF-required reforms are un- 
usual because they hurt members of a 
jp that has long dominated the In- 
dian economy, the family and close 
associates of President Suharto. 

Some of the closed banks have links 
to Mr. Suharto’s children, one of whom, 
Bambang Trihatmodjo, said he would 
sue the state for shutting a bonk in which 
he was a major shareholder. The gov- 
ernment said that the institution. Bank 
Andromeda, had flouted the legal lend- 
limit 

r. Trihatmodjo said that about 90 
percent of Indonesian books had vi- 
olated the limit and that his bank should 
not have been singled out according to 
the official Antara news agency. 

Probosutedjo, a half-brother of Mr. 
Suharto who is a director of the liq- 
uidated Bank Jakarta, also threatened to 
sue. 

In another blow to the Suharto family, 
the government said Monday that the 
president's youngest son. Hutomo Man- 
dala Putra, had been removed as head of 
the Timor national car program. 

Timor executives said the replace- 
ment of Mr. Hutomo was not tied to the 
IMF reform package. 

Soemitro Soerachmad, executive di- 
rector of PT Timor Putra NasionaL said 
the appointment of several new direc- 
tors, including some from the rival auto- 
maker PT Astra International, was in 
line with Timor's plan to make an initial 
public offering. 

There has been speculation that As- 
tra. Indonesia's largest car manufac- 
turer. would take over the project to 
build an Indonesian car, Astra markets 
about half of the vehicles sold in In- 
donesia. 

“We aim to raise the level of pro- 
fessionalism,” Mr. Soerachmad said. 
“There's nothing unusual about iL 
These changes have been planned for a 
while now.” 

Investors have speculated that the 
IMF package may require Indonesia to 
end tiie tax breaks and other benefits 
that Timor has had. Timor is exempt 
from paying taxes and tariffs on cars it 
imports from Kia Motors Coro, of South 
Korea. (AP, Reuters, Bloomberg) 


% 


.1 


u 4 



Thinking Ahead /Commentary 


WTO: The Summit’s Forgotten Issue 


By Reginald Dale 

International Herald Tribune 


w 


- system since World War U — 

rules mat provide for dis mantlin g trade 
barriers, nondiscrimination and dis- 
settlement according to agreed 
. procedures. 

_ hose rules would give China a fur- 
ther bigpush toward economic reform, 
which would be in the interests not 


pete 

lejtaJ 


ASHINGTON — There 
was good and bad news 
for tiie world economy 
from the summit meeting 

^between President Bill Clinton ana 77 — — - --- ------- ... 

r President Jiang Zemin of China in only of all those trading with Chma but cems ranging from weapons prolif- 
•: Washington last week. The good news of the Chinese Themselves. eration to human rights, Taiwan, Tibei 


was that little attention was paid to 
- China’s bid to join the World Trade 
t Or ganizatio n — the biggest item on the 
two countries’ joint economic agenda. 
1 That was the bad news, too. 

[. It was good that Mr. Clinton did not 
rush through a flawed agreement 

speeding Chinese entry into the WTO 

“to maVn the meeting an ostensible 
political success, as seemed likely only 
a few months ago. 

But it was bad that the issue 
out of sight altogether, because __ 
is unlike ly to be admitted to the WTO 
' without new high-level political im- 
i perns from Washington and Beijing. 
Thai prospect now looks increasingly 
distant. . 

There are legitimate worries in the 
West that fhina might wove a dis- 
ruptive member of the WTO. Bat the 
political, economic and strategic rea- 
sons for integrating China into me 
world trading system for outweigh me 
. potential disadvantages. . • 

Provided the conditions are right, 
WTO membership would require 
rhm* to adopt the Western-inspired 
jules that have governed the world 


A Chinese ratry on terms that guar- 
anteed that Beijing would play by the 
rules would help make the WTO truly a 
world organization and set a helpful 
precedent for admitting Russia, which 
is way behind China in understanding 
how markets work. 

China at first thought it had a polit- 
ical right to WTO membership in 
deference to its growing world status. 
It was rapidly disabused of that no- 
tion. Beijing now seems to under- 
stand that strict economic and com- 
mercial criteria have to be 
respected. 

But that very recognition is increas- 
ing political resistance to the WTO 
inside f’bma, especially as it becomes 
clearer that the loss of government 
subsidies and other forms of protection 
is likely to cause the collapse of in- 
efficient state-run industries and wide- 
spread unemployment. 

Iheiuling Chinese political and mil- 
itary establishment is still deeply di- 
vided over whether it wants to pay that 
price, especially when it sees some 
other Asian countries claiming, 
wrongly, that their current financial 


troubles were caused by opening their 
economies too quickly. 

At the same tune, the U.S. political 
climate is growing less auspicious. 
Last week’s summit meeting con- 
firmed that vocal sections of American 
opinion still strongly resist doing 

eijing any favors, as a result of con- 
cerns ranging from wi 
caution to human rights, T&iwaiL Tibet 
and the surging American trade deficit 
wi&China. 

The tough opposition in Congress to 
Mr. Clinton’s request for new “fast- 
track” trade negotiating authority is 
demonstrating the extent of political 
resistance to trade-opening moves to- 
ward low-wage countries — despite 
the fact that, in trade terms, Chinese 
WTO membership would benefit the 
United States for more than it would 
China. 

China’s approach to the WTO could 
be blown off course in Washington by 
next year’s midterm congressional 
elections and the fight for the Demo- 
cratic presidential no minati on in 2000 
— a contest likely to pit the relatively 
pro-free-trade Vice President A1 Gore 
against the protectionist Dick Gep- 
hardt, the minority leader in the House 
of Representatives. 

U.S. political infighting would be a 
poor reason for delaying such a mo- 
mentous move as China's integration 
into the world economic order. But the 
most important thin g is to get the terms 
of rhar integration right, even if it takes 
a little longer. 


CURRENCY & INTEREST RATES 


Cross Rates 

>1 * 
Amsterdam UBS 

BlfBMtS 

ErtnWfft VO 

IjMdM U) Uff 

MadrH HU0JS 

Mom WUO 

Jtaw York 00 — 

ft* ' ' SMB 

Tttp 

Toronto UW 

Zurich 

t ECU IUS 

I sod 13ffl 


No* 3 Llbid-Ubor Rates 


Nov. 3 


I OM. FT. Um 

iats uni o&s 
muj — mss u®‘ 

U11S tWMSUB 

2*261 MM 2S2TI U»* 

u a* »H* ** .JZ 

lASJn 1J W SM UM 

w» nan ■— “2 

£3» "Ml® MCI U®* 
TWO DUS u® MOP 

urn M® wuo 

UK UBS von “fl- 


an IF. S£ Iks ' O UBS 
S4ffl- 1JH I 1*6 1XW 

08872 iwriau uot'UM \n a- 
hot asm vrawM uwstsu 

mu ao vans uiv uns iuu 

Si SS un bus 

m SUN *|»S IMS” 

STM u a- um MET — ®®* 

25- _ UTS- JJWO MB' 

g* £m van un ug 

m, iso . iw- m. vm 

t, other centers; Ne* Yottades 


Sofa nraadb 

D-Mark Fmc SMx Pnwe Yen ECU 

I-fltanffl HtS'5tt 3H-3H !**-}** 7»-« 

3-monlh Wh-Utte 7»-7H 3W-3W 

59U-5U 3BN-3«Wi m-2Vta 7?»-7Tis 3VU-M ?W-¥W 

OTta-4 2Vk-2M> 7% -7% 4-4Y* , H-fa W-W* 

of SI mflRin mtafnwm (or equivalent). 


Ptn»rM 


or To buy eat pmtbbcTo 
Other Dollar Values 


Pari 

AifaaLpan OMK 
AwtrotaS 1JM& 
Aodllan Kh. 11232 
Brad rod 1.1024 
CMottaywn &3134 
Crock kama 33.15 
Doabkhrapa &4151 
Egypt, poo* wag 
Hn- u a i M m &2U7 


cnmacy 
croak drac 

IMS M* 
Haas-UrtH 


uofa-ropi* 

I risk c 

uraefisftafc 
Kmedkm 
MO W.riW- 


Pars 

wa 

vans 

19SJE 

3437 

359000 

04893 

35316 

0303 

12477 


Omaacr 

Mat paso 

N.ZM8ndS 

Nam-*™* 

PWLpro* 

MMSotr 

Wftaacuto 

Rocsrnhte 

Saadi!** 

Sat.* . 


Pars 

038 

15803 

75625 

3005 
14 9 
177.28 
5887-00 
07505 
1 SMS 


Port 
OAfr.iari 4JM5 

S.K0T.MB Wft» 
SaMMao 75443- 
iMwt 3131 

TMImM 4030 

Tarttdi«a 181675. 
lUEMoa 3471 
Vtaro.6*fc 49825 


Forward Rates ||i n f 

Us Ss S* 1 " 


11973 HMJ 
14154 14V4J 14128 



Key Money Rates 

IhHriSMw Oasa 

5JD0 

s» 

591 

90-0ay CDc dHOaei ■ 547 

llMuy CP KhUTO 545 

XnaathTnKwrrbn &T0 

1-SMrTnasan'UI 5-15 

frfwrrTRaMrrOe 540 

j^Mrlktasnyak STB 

7-saarT1««iuiyaala IBS 

lOjpwrTrMCwyaete 590 

30 -iaro Treawnr baud 621 

M«Tai«M*3MafRA 509 


050 

OkL 


440 

345 

343 

172 

345 

S43 


Dbcoanlnda 
CoODMMf 
T-awagi Wn ha at 
3«aath hriertaak 
t awaiaiwrtnat 
lO^aor Qott bond 


HiA inlariMrok 
KHwrBMd 


sjOQ 

M 

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567 

543 

507 

53» 

££1 

573 

580 

5B3 

6.16 

509 


040 

043 

046 

047 
049 
1^2 


450 

440 

253 

232 

345 

559 


Boakbwral* 
Col Monty 
Hnoalh MNluaft 
3-ffmrik kri a rt ank 
6-raonHi bitariuric 
lOiMTSIt 

firm n 

IntanapHoa nta 
CaSrooMy 
1 


740 7JOH 
7V4 7W 
7V. 716 

7Vn TVa 
7W 74 
659 644 


220 220 
3tt 3^ 
37a 39k 

3 — n fli iirtw ki t 396 3Va 

croanBi tatafkaak 3U 

ia-fMrOAT 565 559 

Sotra*-* RMk Btoombm, Maws 
.inch, flan* or Tokyo-MIftoblshl, 
* — owetLforwm. 


Gold 


AM. PM. arg* 


Zaikk 31275 71340 +128 

Landoa 31240 31350 +240 

MawYwfc 31210 31420 +220 

04. do/tons per ounce. London otndtjt 
ibtegs ZuMi and New Ylrtrowniw 
art otatogpdtBB New YtHkCeam 

roecj 

soaatr&tm. 


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Private Banking can anticipate 
and serve your needs through 
close partnerships built on 
trust and vast resources. 
Together, these two dimen- 
sions create something 
unique in Credit Lyonnais 
Private Banking. 

Let’s talk. 



CREDIT LYONNAIS 


Private Banking Network: 

Switzerland: Place Bel-Air 1, 12W Geneva tel, 41 22/705 66 66 
Headquarters for Credit Lyonnais International Private Banking 

Baslf. tel 41 6 1/284 22 22- Zurich tel 4 1 1 /2I7 86 86 • Lugano tel. 41 91/923 51 65 
Paris tel. 33 1/42 95 03 05 - Luxembourg tel. 352/476 831 442 « London tel. 44 171 /409 01 46 ' 

Monaco tel 377/93 15 73 34 - Vienna th_ 431/531 50 120 . Montevideo tel. 598 2/95 08 67 • Miami tel 1 305/375 78 14 
Hong Kong m_ 852-28 02 28 88 . Singapore tel 65/535 94 71 









THE AMERICAS 


Investor’s America 


The Dow 


30-Year T-Bond Yield 


:■ 8100 - 


f a — rJ'nt : t80 



u — V. 6.40 - 


6900 — 



800 


Dollar m Deutsche m arks B Dollar, rn Yen 


130 



s - ThfiOejv 


:WVSE' - 



?»VSE 


5iPP^ 

HYSE; 

, Con^xisitB- .' ; V< 


p.SL' . • ■ 


-AfiEX 



Toronto *• 

fsai 


Sfio Pmsfcr 



MextooCity 

■Botea-. ;. *• . - 

S 'MSSi * 



vr^Trm. 

paf^raa 


Csraests 

Esaasa 


Source: Bloomberg, Reuters 


Very briefly: 


Wall Street Keeps Up World Market Rally *Tf St °f 


Owys/nfto Wi SUf Fowl Du/u&te 

NEW YORK — Stocks rallied Monday after 
gains in Europe and Asia gave many investors 
hope that markets were again on a steady ascent 
after the raucous ride last week. 

The Dow Jones industrial average dosed 
232.31 points higher ar 7,674.39. and the 
broader Standard & Poor's 500-share index 
gained 24,32 to 938.94. 

Advancing issues outnumbered dec liners by a 
4-ro-I ratio on the New York Stock Exchange. 

"Fear has shifted to greed,” said Robert 
Stovall, president of S toval 1/T wemy-First Ad- 
visers Inc. “Some investors wish they’d 
bought more aggressively last week. Those 
who said they had too much exposure to stocks 
are now saying they don’t have enough.” 

Markets around the world plunged and then 
stabilized last week, led by Hong Kong in 
reaction to falling currencies across Asia. But 


some analysts warned that the markets could fell 25/32 point, to 102 7/32. taking the yield up 
fall again. to 6.2 1 percent from 6.16 percent Friday. 

"Last week didn’t actually purge the major Technology stocks again found favor, with 
imbalances” in stocks, said Ned Riley, chief the Nasdaq composite index closing up 30,54 
investment officer at the Bank of Boston. points at 1.630. 15. Intel was the most acoycly 
The rise in U.S. stocks was encouraged by a naded stock. It closed up VA at 78% after a 



f 


LLS. STOCKS 


spokesman said demand for die company s 
chips was rising. 

Compaq Computer was the most actively 


government report that found growth in Amer- Big Board stock, rising VA to 67% 

jeans’ personal incomes and spending mod- American depositary receipts in Telecomu- 
erated in September, slowing from a robust rare Brasileiras. the Brazilian telephone 

earlier in die quarter . company, rose 10 15/16 to Hi 15/16 after 

The ea^ threat of mflatommeaTO the Federal ^ ^ recommendations. 

Reserve Board is not likely lo raise interest rates pbiljp ^ l % to 41 drawing con- 


tUmmlKjf: Ktwi - ' • I 

NEW YORK — The. dollaf rose ; 
against other major cunvhcwx Monday 
asUS. stocks gained amid ebbing con- 
cern that Southeast Asia’s cconomwlui-' ';. 
moil would drag down U.S. markets. . 

“All eyes are focused on stocks.-” 
said Ken Nixon, a curreneysaiesman at 1 
S venska Handelsbanken. “Thmgssecm - 


FOREIGN EXCHANGE 


when its policy committee meets next week. 

But Treasury bond prices, which normally 
rise on expectations for stable or lower rates, fell 
as investors moved money into the stock mar- 
ket The price of the benchmark 30-year issue 


tinned support from a court ruling last week that 
found another tobacco company. RJR Nabisco, 
not liable for a former smoker’s cancer. RJR 
rose 15/1 6 to 32V4. (AP, Bloomberg) 


Levi’s to Slash Jobs Amid Jeans Glut 


• Lockheed Martin Corp. will sell some businesses to Gen- 
eral Electric Co. in exchange for $2.8 billion of Lockheed 

K ' sired stock held by GE The businesses include Lock- 
's stake in Globalstar, a partnership of telecommuni- 
cations service providers and equipment manufacturers. 

• Integrated Health Services Inc. plans to buy the Horizon 
long-term-care assets from HealthSouth Corp. for $1.15 
billion plus the assumption of $ 100 million in debt. Integrated 
said the deal would make it the largest U.S. provider of post- 
acute medical services. 

• Northern Telecom Ltd. agreed to acquire Broadband 
Networks Inc. for 586 million Canadian dollars (5416.1 
million) in cash and stock to expand its telecommunications- 
equipment business. 


The Associated Press 

SAN FRANCISCO — Levi Strauss & Co. 
said Monday that it would close 1 1 plants in 
four states and lay off 6,395 employees as part 
of an effort to scale back production amid 
declining demand for its jeans. 

The world's largest brand-name apparel 
maker said the job cuts would slice 34 percent 
of its total manufacturing work force in the 
United States and Canada. 

"During the past few years, it has become 
obvious that we have more production capacity 
than we Deed to supply our U.S. denim mar- 
ket,” said Bob Haas, the company’s chairman 
and chief executive officer. 

It was the second time this year that Levi's 
had announced it would trim its staff. In Feb- 
ruary, the company slashed 1,000 jobs in an 
effort to cut $80 million in costs. The cutbacks 
come amid rising competition in the jeans 
market. 

Not only have designers such as Ralph 


Lauren and Tommy Hilfiger cut into sales, but 
consumers have shown that they also like less- 
expensive private- label jeans available at re- 
tailing giants such as Wal-Mart Stores Inc. and 
Sears, Roebuck & Co. 

“Despite how well it was known. Levi's is 
having problems competing in the very com- 
petitive jeans market,” said Kurt Barnard, a 
retail consultant and president of Barnard’s 
Retail Trend Report. 

Levi's said it would spend S200 million in' 
severance and other employee benefits. Work- 
ers affected by the job cuts will get eight 
months' notice and up to three weeks severance 
pay for every year of service. 

The plants to be closed include one each in 
Fayetteville and Harrison, Arkansas; Al- 
buquerque and Roswell, New Mexico, and 
Centerville, Tennessee. A sewing plant and 
finishing center in Knoxville, Tennessee, will 
be closed, as will four plants in Texas — one in 
San Angelo and three in El Paso. 


Hilton Raises ITT Bid 
In Battle With Starwood 


Reuters 

BEVERLY HILLS. California — 
Hilton Hotels Coip. raised its offer f or tTT 
Corp. on Monday, seeking to thwart iTT^s 
agreement last month to a $9.8 billion 


acquisition by Starwood Lodging Trust. 


.lilton’s revised bid woul d pay $80 a 
share for 55 percent of in ’s shares and 
swap two Hilton shares for each remaining 
ITT share. It also includes a new preferred 
stock intended to ensure that two shares of 
its common stock will be worth $80 a year 
after the merger. Hilton’s shares rose 93.75 
cents to close at $3 1 .75, while ITT was up 
$1.9375 at $76,625. 

Hilton’s previous bid was $70 a share in 
cash and stock, or about $83 billion. Star- 
wood, a franchisor of Ritz and Marriott 
hotels, offered $ 1 5 in cash and $67 in stock 
for each ITT share. 


to be calming down in Asia,j»d ihatV 
good for the market overall.** . 

The dollar rose to 1.7365 Deutsche 
marks in 4 FM. trading from 1.725G-DM 
on Friday and to 121.45 yen from 130.40 
yen. It also rose to 5.8160 French francs 
from 5.7770 francs and to L4 1 30 Swiss 
francs from 1.3985 francs. Theppundfdl 
to $1.6757 from $1.6735. ; ? '*• * 

The dollar got an added Uft against 

the mark from comments by Buraks- 
bank officials that quelled expectations 
for German interest raws to 'go' much 
higher before the scheduled ;1999 start 

of Europe’s single currency. 1 1 . 

Hans Tietraeyer, the president of the 
Bundesbank council, said speculation 
the central bank would "soon” raise 
rates “misdiagnoses'* the situation. 

Council members Johann Wilhelm 
Gaddum, Ernst Weltukc and Hans-Juer- : 
gen Koebnick also knocked down spec- 
ulation that Germany would raise rates 
simply to bring litem in line with higher 
rates in other parts of Europe. 

Higher rates would make mark-de- • 
nominated deposits more attractive, blit 
they also could slow growth by making 
borrowing more expensive. 

Fresh signs of frailty in Japan's fi- 
nancial sector hurt the yen as Sanyo 
Securities became the Fust brokerage in 

i fro 


tr% 


Japan to seek court protection 
creditors. 


rrom 


• Desktop Data Inc, which provides news and information A ITJ "OT TCJ j ths n n*lf* /i t 

packages for personal computers, agreed to buy Individual f \ 1 1 1 Ml a J ^2 J± HpU.Z tjllllOTl UTClGT 
Inc for $84.8 million in stock to broaden its financial-data 


services. Desktop will change its name to News EDGE Corp. 
• Mexico will charge punitive dumping tariffs of about 100 
percent on porcelain and ceramic dishes and other tableware 
manufactured in China. Blonmberfi, Reuters 


Continued from Page 11 


said. Following Boeing's acquisition c f McDonnell Douglas 
Corp. in August, the Seattle-based company and Airbus are the 


Weekend Box Office 


only two remaining makers of large commercial aircraft 
Be 


1 The As* ‘citii ed Press 

LOS ANGELES — “I Know What You Did Last Summer” 
dominated the U.S. box office over the weekend, with a gross of 
$ 10 million. Following are the Top 10 moneymakers, based on 
Saturday's ticket sales and estimated sales for Sunday. 


!. (KnteWtfVhvaJLadSHnrnar 

XotumUo) 

SlOmOOan 

2. Red Coiner 

(Mctm-Gohtovyn-Meryeri 

S83ma8on 

3. Devil's Advocal» 

(WamerBmsJ 

SJj6 mlfion 

4. Boogie Nights 

(New Urn Cinema) 

I5.i m3 Bon 

5. IGsstheGirts 

tPammovnt} 

S3^m08on 

6. Seven Yeas in Tibet 

(Tristan 

S36 mil Bon 

7. Switchback 

(Pammouiri) 

S3 mil Don 

8. Fatytafe: A Troe Story 

(Paramount) 

SZ9 mBflon 

9. Gottixn 

(Catvmbla) 

52-7 m3 Bon 

10. In & Out 

(Paramount) 

SIR million 


loeing said Monday that it would phase out two of Mc- 
Donnell’s midsize Jetliners, the MD-80 and MD-90, in an 
effort to return McDonnell's commercial airplane business to 
profitability. Boeing also said it would continue to assess the 
market demand for McDonnell’s regional jetliner, the MD-95. 
The 100-seat plane Fills a niche ui Boeing’s product line. 
Boeing said continued production of the MD-95 would depend 
on the extent to which it could lower manufacturing costs. 
Airbus said that US Airways would begin taking deliveries 


of its planes in the fourth quarter of 1998. starting with six 

' iitional 21 


A3 19s. In 1999, Airbus is to deliver an additional 20 planes, 
with new deliveries increasing substantially in 2000. For US 
Airways, the plane orders are part of what Its chairman, 
Stephen Wolf, said last month was a plan to make his airline a 
“world-class global carrier. *’ ( Bloomberg , Reuters ) 


INTERNATIONAL FUTURES 


Nov. 3, 1997 


High Low Lfflesl dige Omni 


High Low Lotos! Chgc Opinl 


High Low Latest Chge Optra 


High Low Luted Chge Opinl 


Grains 

CORN (CBOT) 

5.000 bit minimum- cents per bushel 
Dec 97 2W* 27BC 285'.. +SV> 191,328 

Mar 98 799 289 295 

Mo» 98 304U 29J'T Wl 

J III 96 JOB 3 - 79 r- 305 
Sep 98 297'- 293 294U 

Dec 98 297 291'- 293'4 

JUI09 305' •: 303 30JV* 

Esl. sain 90-000 Fiti sain 62.512 
Fits open mi mm at! 3,538 


+534 104873 
♦S'* 3CL370 
*5t* 41,393 
♦S'* 1540 

+2<- 25.9*8 
+2 204 


ORANGE JUICE (NCTN1 
1SOOO tbs. cents peril. 

NOV 97 69.00 66-50 68.90 +170 2661 

Jan 98 72-50 7000 7270 +180 20885 

Mar 98 75.70 73-50 75-55 +1.50 11.636 

May 98 7850 7650 7850 +1.35 2.702 

Esf. sate NA Ffft tote 7,359 
Fit* open hit 40.282+ up 133 


18-YEAR FRENCH GOV. BONDS (MATIF) 
FF500000 jjts of TOO pd 
Dec 97 98.94 9B56 98.68 -0JQ 1K543 

Mar 98 9860 98.14 9814-0.32 8574 

Jun98 97.96 97.96 9772 — OJQ 0 
EsL sales: 67,223. 

Open Inf.: 114.71 7 off 1518 


Sep 98 95JJ9 95.01 «0S +002 66882 

Dec 78 95.10 95.06 95.07 +0.02 50469 

Mar 99 9503 94.99 9501 +007 29.614 

Esl- sate: 46379. Prev.tote: 56217 
Prmr, open tot.- 490833 up 1388 


AMEX 


Monday's 4 PJH. Close 

The 300 most traded stocks of the doy, 
up to tt» dosing on Wcfl Street 
The Assailed Press. 


S tod 


Sabi Mgt Urn LoM Oipp 


AttC 

ARC 

ARM Fen 
ASS Hr 
ATPtasg 
Motw 


21>i 

S-t 
71" + 


AdoGra 

Arabian 

aHm 


& 


Amgat 

venom 

MM 

Utot 

AUxdD 

HMg 

VMM 

« Ilf 85 

A5dE 

AnSM 

Jtapolal 


ir-s 

T? 

& 

|3Tl 

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UF- 

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SRi 

£. 

IS 

23 

17 

II 


21 '* 

5-r 

716. 

22<j 


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9-i 


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nj* 

Ti: 

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,# ii 

13T. 


+*• 


T. 


Matt 

AmnM 

AdUmoe 

Atorah 

AmtoBCi 


I i* 5 

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III* 

NFS 

l^e 

,“6 


7I*« 

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9ta 


BA? led 

BFXHara 

Bate 


15 

Uu 




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BaHrs 

Bam 

BeaaGeU 

8WA 

BNTO 


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171, 


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Bme 

tmga 


14!. 
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JP* 

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Had 


Soles W|fc Lae LMest Chge 


GAFna 

GSTleto 

Cans 

GepCe 

Genart 

GnAin 

GawOr 



Metals 

GOLD INCM30 
1 00 bof ee.- deOan per hn» az. 


No* 97 
Dec 97 
Jan 90 


31360 +2-30 1 

315-50 311JU 31440 +2-30 111,889 
315-50 +2-30 


SOYBEAN MEAL (CBOT) 



Feb 98 

31*90 313-10 31580 

+2-30 

30600 

100 Ians- doUan per km 




Apr 98 

319.00 

31 7 JO 

317*0 

+ 230 

7678 

Dec 97 

233 1 0 234JH 333.10 +1000 


Jun 98 

32030 319.10 

31»JS0 

+130 

11.828 

Jen 90 

KUO 37030 

328.40 



Aug 98 

322.40 

371.70 

321.70 

+2.40 

45)0 

Marta 

72550 217 00 

22660 

+ 860 

20491 

Odta 



323J50 

+260 

1476 

May 98 

23350 215-50 

moo 

♦8.20 

17-515 

Dec 98 

327.00 

325JM 

325.90 

+250 

10911 

Julta 

22X00 21650 22180 

+ 750 

I2J64 



Augta 

23X 00 71750 

223 00 

+610 

zm 

Fits open toil 21*305. up UM 



Esl rate 31000 Frts sate 24.371 








Firs open ml 121569. up 1.862 



HI GRADE COPPER (NCM» 








20000 Bs. ■ coni-, per to. 




SOYBEAN OIL (CBOT) 




No* 97 

91-25 

90.10 

90 70 

uohJL 

*137 

60000 te- cents per lb 




Dec 97 

91 JO 

90 JO 

9064 

-030 

31*37 

Dec 9/ 

7548 3508 

25*3 

+OXI 

50855 

Jon 98 

9160 

WAS 

9065 

■035 

1.251 

Junta 

2585 2526 

7UW 

+0J5 

27646 

Feb *8 

91.00 

90 45 

9065 

-060 

1453 

Marta 

26.10 2555 

2602 

-0.12 

14644 

Marta 

9160 

W65 

9065 

-075 

8424 

Mkwta 

3618 2560 

2*14 

+009 

9.125 

Aprta 



9065 

■0*5 

1435 

Jul 98 

3* 25 25 JO 

2*1/ 

+032 

0*12 

Marta 

9150 

90*5 

90*5 

-075 

3630 

Augta 

25.95 75-75 

25A5 

+0.1 a 

819 

Junta 



9055 

■085 

I.3IM 

Esl. sales NA Fits sales 17633 



Jul ta 

91.40 

9055 

9055 

■0 75 

2561 


ITALIAN GOVERNMENT BOND 1UFFE) 
rawOmUUon-ptoonOOpcI 
Dec 97 111J9 11153 111-64, +BJ» 110393 
Mai 98 111.77 lllJe 111.73 +0.10 1J76 

Jun 98 N.T. NT 111.73 +010 111,969 
EM sate: 25657 . Pm. sate 26460 
Pm.apentraL- 111.9*9 alt 1.710 
LIBOR 1-MONTH (CMER) 

S3 mHion- pis otlOO pci. 

No* 97 94-36 9435 94-35 

D«C 97 9421 9418 9419 

Jan 98 9433 9431 9433 

Esl. sate i*933 Fits sate 1958 
Fit's open bit 60.1 70. up 82a 


■0 02 35291 
-0-0+ 16,965 
-002 4619 


Industrials 

COTTON 1 (NCTN) 

SUMO Its.- cents per #> 

Dec 97 72-85 7220 72.77 +045 45726 

Mar 98 7388 7325 7183 +046 17812 

May 98 74.60 7400 7450 +049 10387 

Jul+8 75.00 7468 7500 +032 9823 

Od98 75-65 7555 7560 +085 871 

EM. sales NA Fftssra«I1J39 
Fits open Ini 95293, Pit 374 


FilsopanM 1 11107, up 197 


71260 


SOYBEANS (CBOT) 

5000 bu mfntmuni cents per bushel 
Nov 97 718' 7 690>I 717 *76>« 

Jan 98 7231* 697 721V -35V, 67.H3 

IWW 728 701 1 1 TH": +25H ZL991 

May 98 737": 711'i 732'. +2r» 14515 

Jid98 738 717 7371, +25 14282 

Esl sain 90000 Fits sate 50403 
Fits open ml 151834 all 4107 


Esl. sate 10,000 Fits sate 9Mt 
Fits open Mt 64004 up 737 


SILVER (HCMX) 

5000 Iray ol- cents per tray ac. 

NO* 97 482-50 -1080 1 

Dec 97 487JH 471.00 48420+1080 60.753 


EURODOLLARS (CMER) 
si mlBon-pnoT 100 pci 
No* 97 9425 9423 9424 

DOC 97 9430 9422 9424 

MOf 98 9424 94.17 94.19 

Jun 98 9416 9411 9413 

Sep 98 9408 940* 9407 

Doc 98 93.98 93.93 93.96 

Mar 9* 93.95 9193 9194 

Jun 99 9192 9388 9190 

5ep tV 9388 9784 9187 

Dec 99 9181 9378 9181 

MarOO 9182 9378 9381 
Jun 00 9179 93.75 9378 

EM. soles 281821 Fits sales 451085 
Fits open ini 1802J70. up 6,232 


-002 21349 
-0.02 545769 
005 432349 
-005 344826 
-004 256. 704 
-005 231405 
-005 151169 
-005 131629 
-OOS 184780 
-005 88.750 
4)05 69,772 
■005 57.977 


HEATING OIL(NMER) 

42.000 gal cents per gal 
Dec 97 59 JO 5B30 58.78 

Jan 98 6031 St.lS 9901 

Fab 98 6030 59.45 59.81 

Mar 98 59.40 58.75 59.01 

Apr 98 5725 5700 5721 

May 98 56^0 5586 5586 

Jun 98 5530 5526 5526 

EM. Sate NA Fits sales 41106 
Fits open inti. otfl#V427 


■0.15 58208 
-007 24139 
-007 11299 
■007 9,163 

4107 1391 

4107 1836 

-007 2,913 


BRITISH POUND (CMER) 


Jan 90 
Mar 98 


jftT 


WHEAT (CBOT) 

1000 bu minimum- cents par bushel 
Dec 97 364'* 358'* 363' i *2^ 51809 

Mar 98 379 371* 377*, .3>> 27245 

Mot 98 386 31) 385*t +3>+ 6423 

Jul 98 388 383": 387'. -T. 14941 

Esl. sate 14000 Fits sate 10530 
FifsapenM 104635. up 231 


48620 48200 48620 +1080 
492.00 47700 49020 +11.00 
49120 48300 49320 +11.00 
49700 485 00 496.00 +1100 
Sop 98 49880-1100 

DK 98 502 50 49200 50230 + 10.90 
EM sate 19000 Fits sales 17247 
Fits apai M 9467L up 1188 


43 

19.152 

2.761 

1555 

643 

2047 


62300 pounds. S par pound 
■ 1-6680 16732+00014 48328 


Dec 97 16758 
Mar 98 1 6670 1 6630 1 6674-00014 
Jun 98 1 6600 16600 16606+00014 
Esl solos 41 12 Frts sales 6,130 
Firs open W 49.375, up 770 


LIGHT SWEET CRUDE (HMER3 
1.800 &M- daSan per bM. 

Doc 97 2135 7005 70.96 

Jrai98 2159 2096 21.09 
Feb 98 7131 20.99 21.04 

Mar 98 2125 TOSS 2093 

Apr 98 2100 2080 2083 

May 98 2085 2074 2074 

EsL sate NA Fits sate 71050 
Fits open M 1, Oil 390670 


-012 96,709 
-009 S4573 
-010 31410 
-0.10 20953 
-010 15+280 
-OH 14773 


476 

71 


Livestock 

CATTLE (CMER) 

40000 R».- cete per lb. 

Doc 97 67.77 67.10 67.11 -040 3R350 

Feb 98 6900 6850 68BS -007 35.265 

Apr 98 723 2 72-12 7132 -002 14320 

Jun 98 7000 6965 6902 005 10.766 

Aug 98 6990 6967 6972 unen. 1601 

Oct 98 7225 72.00 7200 -020 1.164 

Esl. sate 9338 Fits sate 11987 
Fits open lid 94667. up 875 


FEEDER CATTLE (CMER) 
50000 lbs. - carts per to. 

No* 97 77.97 7755 77J7 

Jan 98 7830 77.70 7732 

Marts 7045 7765 7737 
Apr 98 7030 77.97 7015 

May'S 7975 7067 7075 
AugV3 SUM BO 50 8080 
Esl sate 2395 Frls sate 1246 
Fit! apan HO 17,967, UP 56 



PLATINUM DIMER) 

50 hay oz.- daltan par tray «. 

Jan 98 407.70 40330 40650 +130 10.935 

At* 98 *35-50 40230 40230 +130 1362 

10190 39930 399 J)0 39930 +130 29 

Esl. safes NA Frts srtes 1.320 
Firs open Inti. air 11325 

Close Pimrtous 

LONDON METALS (LME) 

Donors per metric tan 
AlaaOaM (Mali Grade) 

Spat IMS'* 1S99 1 * 161V* 16)41* 

Fonwonl 167800 16081* 1638.00 16394)0 

Oatnadas (High Grade) 

1995-00 11964)0 2012M 281100 

200100 700100 2021.00 202100 


CANADIAN DOLLAR (CMER) 

100000 «An S perCdn. dtr 

Dec 97 7148 .7116 7123+0.0013 61920 

Mar 98 7175 .7148 .7154+10012 1571 

Jun 98 .7195 .7175 .7178+0 0012 661 

EsL late 4478 Fits sate 1507 

Fils Open bit 73^95. up 1.147 


NATURAL GAS (NME ID 
laaaommbtux S par mm blu 
Dec 97 3305 3.350 3371 -1181 54890 

Jan 98 1525 3310 3318 1156 31552 

Fob 98 34190 2.930 1930 4)122 234)67 

Mar 98 1700 2390 2-595 -0.070 14820 

Apr 98 2360 2-295 2305 -0.050 lfttt23 

May 98 1260 2310 2323 -04)33 

E*L sate N A Frts sate 27*419 
Fits open Ini 1, oH 234760 


&316 


UNLEADED GA50UNE (MMER) 


GERMAN MARK (CMER) 

1 254)00 nvbs. 5 per mart. 

Dec 97 3810 3751 3772-001)42 62390 

M»98 5811 5783 5800-04042 1 700 

Junta 5825-00042 1654 

Esl sate 18346 Firs satos 244)34 
FiTs open M 67Ma all 1.109 


5941* 

6061* 


Sts’* 

40700 


5971* 

61000 


s»m* 

61100 


61204)0 6130.00 628000 62904)0 
620100 621000 636000 637000 


JAPANESE YEN (CMER) 

1 25 mflkn yea 5 per 1 00 yen 

Dec 97 KAS 3276 5270-0 0081 100663 

Marts 54S0 £389 £389 4)4)081 14)99 

Jun 98 8570 5502 5502-00081 230 

ESL sate 17.266 Fits sate 15.497 

Fite Open toil 101.991 Off 37 


Dec 97 
Jan 98 
Feb 98 
MraM 
AprtS 

May 98 

Jun 98 6163 undi 

Jut 98 61.77 unctL 

E)L sate NA Fit* sales 24963 
Frts open mil, 0*194371 


6100 
61 JM 
6100 
61.15 
6JL00 
6190 


59J 

5930 

5750 

6030 

AMO 

6170 


99.90 

9955 

6000 

6050 

4455 

6190 


-032 35311 
-043 18530 
-062 £500 

-062 S.SM 
+1.13 5562 

-033 4326 

1997 
3586 


555000 5555.00 54704X) 5480.00 

5945.00 555000 5485JM 5495,00 

Ok CSaeddl Htgb Grade) 

»Ml 123900 124000 12541* 1255*? 

Forward 1259'', 126000 1274.00 12754)0 

Htgn Low C10H Olga OpM 


SWISS FRANC (CMER) 

115000 hones. 5 per inane 

Dee 97 .7175 .7073 .7110 4)4)075 50331 

Marta .7195 .7136 .7176 4)4)075 1556 

JuntS JIM .7240 .7241 4L0075 JM 

EM. sate 14387 Frts satos 23.299 

Fri* open M 51467. up 4333 


GASOIL <IPE) 

U3. daoas per metric ton - kus at 100 tans 
NOV 97 18535 18130 IB 135 — 135 26^40 
18630 18100 18175 -135 21128 
187-00 182-50 18125 -U0 14713 
18650 18125 13175 -1.75 8414 

182-75 10050 18025 -100 6/tlA 
N.T. N.T. 17730 -235 1172 

176.75 176.75 1754)0 —2-25 1332 


Dec 97 
Jon 98 
Fab 98 
Mar 98 
AprtB 
Marts 

Esl. lrtes: 11970 . Pry. sales :1 4146 


Piw. apan te 99,198 up 1346 


HOGS- Lm (CMER) 
dUHQIta.- cents per lb. 
Dec 97 6235 elito 

Feb 98 6235 61 BO 

Apr 98 S»2S 58.75 

Jun 98 6637 6607 

M«8 648S 64-70 


61.95 -027 

6347 ,035 
5882 JU7 
6637 -0.07 

6470 027 


18,956 

9,764 

4130 

2351 

915 


Esl sate J314 Frts sate A7S2 
Fits open mi 37J09. up 38) 


PORK BELLIES (CMER) 

400001)5- certs per lb. 

Fob 98 6475 6195 6472 +0.0! 

Mar9S 645D 63.75 6445 +U7 
May 98 6460 6400 6432 ,052 
Eil. sate 1394 Ftft sate 1,737 
Fits open W 7,480 off 91 


Fmanaal 

US T BILLS (CMER) 

SI mUBan-ittraiODpd. 

Due 97 9809 9SJH 9501 -008 

Marts 95.14 9507 9537 -41! 

Jbh98 9503 -O10 

Septa 95.10 unch. 

Esl soles 1,-HO Frts sate 1404 
Fits open imiaSfl, op 356 


5538 

4780 

502 

22 


MEXICAN PESO (CMER) 

smuxn pern s per peso 

Dee 97 .11970 .11750 .11897+471964 21461 
Mar 98 .11520 .11380 .11415 + 30092 12347 
Jun 96 .11040 11000 11010+32198 2333 
EsL sales 4364 Frn sales 10570 
Fill open bit 4WQ5. on 555 


6362 

908 

298 


5 YR TREASURY (CBOT) 


tlOOOOO Drift- ph& 64Ha o»100 pd 
108-2- 


DK 97 108-24 107-61 108417 -19 236304 

Jun 98 -14 unco 

EsL sales 40000 Frh sate 41817 
Fit* Open bit 294955, up 51,113 



Food 



IOE) 

tans- Spa Ion 
1575 

1S78 

-25 

29575 

1641 

1616 

1618 

-30 

79.251 

1658 

1*0 

1643 

•16 

11396 

1477 

1664 

1664 

-16 

1965 

1493 

1684 

1684 

-16 

4820 


1702 

-16 

8597 


Dec 97 
Mir 98 

Mayes 
Jul 98 
Sep 98 
Dec 78 

ElL soles 16776 Fits wlcs 4499 
Fftsopesilrt 101,140 oH 631 


18 YR TREASURY (CBOT) 

SKNUMOprin-pis A32ndsoM00Dd 

Dec 97 111-22 1114)5 111-10 -14 37033S 

Mw9B 111-04 110-28 111-01 -14 26.748 

Junto 110-29 >14 111 

EeL sMM 75000 Fft* sate 80779 

Pin open lid 397JN4 up 131 


3-MONTH STERLING (LIFFE) 
£500000 ■ pis m 100 pd 
Dee 97 924a 9162 

Mar98 9163 9247 
Jon 98 9166 9241 

5op 78 9172 9167 

Dec 98 9182 92J8 

Mar 9t 919S 92.91 
Jun 99 9308 9303 

Ea setK suits. Piea ides- 29395 
Piw. open int: 651858 up 6852 


9103 —003 137-569 
9258 —006 116372 
9202 HUB 77,787 
7249 HLOS 66067 
9280 HUM 64089 
9193 — OJM 50,033 
9306 HUM 41991 


BRENT OIL (1PE) - 

Ui. (Mm par sonal - lots ct 1,000 bands 
Doc 97 20.45 19.90 19.95 -407 56135 

Jan 98 20.45 19.92 19.94 —409 51116 

Feb 98 7432 1188 19 SB -415 19,054 

Mm 98 20.18 19J6 1973 HL14 6069 

Apr 98 1976 19-59 19-99 -415 4398 

MnytB 1980 19X9 1*45 -416 5.279 

EsL iateJL300 . Pre*. soles : 36524 
Pie*. openM.I63>162up616 


COFFEE C(NI3E) 

J7JQC Sl ants per to. 

Dec 97 15400 UL30 14410 
MortS 14100 13670 13695 
MrartS 137.50 13400 13405 
Jul 98 13475 131 JO 13150 

SeptB 131-50 12950 12950 
E*L sate 4834 Fih sate 5999 
Frts upon lnt 16117. m 461 


-455 ll.ltO 
-100 8J29 

-2.95 1844 

-250 1.927 

•070 986 


U5 TREASURY BONDS (CBOT) 

A gd-SKAOK-pb & 32nto a(10O pd) 

Doc 77 118-13 117-15 117-24 -23 U6790 

MV98 117-28 1174)7 117-15 - 23 7i10S 

Jun 98 117-09 117-02 117-03 - 22 11.945 

SeptS 116-25 -23 24)09 

Est SOto* 270000 ftt»scte 41X380 
Fits open W 70461R up £3 


3-MONTH EUROMARK (LIFFE) 

DM1 mMon - pis of 100 pet 
NO* 97 MT. MT. ‘ 

Dee 97 9626 9623 

Jan 98 MT. N.T. 

Mar 98 96.02 95,98 
JW) 98 95.78 9574 

SeptB 9560 9554 
OacTS 954) 9575 
Mw *9 9125 95.19 
Jan 99 9108 9505 

5ep99 9493 94.90 

Eri-sOte 141247. Pis*, sate: IJW03 
Pie*, opao InL- LSI 7,982 up 4SK5 


Stock indexes 

SPOMP INDEX (CMER) 

250 x Index 

Dec 97 9+lCO 92850 94050+1650192508 
Marts 95150 94100 951 M +1750 6543 

Jim 98 95950 9SKD 957 JB +1170 
Ed. late NA Frh idea 62,765 
Fit* upon ini 201,314 pH 349 


1.607 


9630 Unde 3,394 
9623 HUM 316030 
96.17 HUM MTS 
95.99 — (MM 325440 
9576 —004 288,757 
9557 —0.04 195.924 
95J7 —0 05 177,247 
9522 -005 196229 
9506 -006 89,992 
94.92 HUB 76103 


FT5E 188 (LIFFE) 

E25 Per index ooUit 

Dec 97 49310 49605 49410 ,1150 
Marts 49760 4*700 50060+1160 


69.154 

1710 


ESI. lotos: 6075 Pnw. KriW: 16032 
Pie*, open InL: 74564 o« 1562 


SUGARW0RLD1I mese) 

11UW |»r^ 1243 +604 112^1 

May 98 1132 12.17 1271 +0JU 27,993 

Juies 1205 n.93 1104 -QJ11 19504 

Od98 U-90 PI-78 1159 -052 22583 

Esl «*mZ 3595 Fits sate 39563 
Frts open W1B&548, up 10542 


LONG GILT (UFFE) 

£5(u)oo . pb & 32nds of 100 pd 
Dee 97 118-16 11B-M 118-13 -010 16W7S 
Mar 98 118-3* 118-15 118-25 HUM 37530 
Jun 98 N.T. MT. 118-19 HMM 200405 
Est.s^s: 3&5T3 ■ Pi*» satos: 39532 
Pa*, opentoh 200515 up 6161 

GERMAN GOV, BUND (UFFB 

HI37 269,743 

Marts 101.78 10155 10IJ3 HL36 11590 
Ed. sales: 134585. Pnv.satoK HIM 
Prey, apan InL.- 2H833 op 4586 


3-AIONTH PlBOR (MATIF) 

FF5 mBflon - pis oMOO pdl 
Dec 97 9625 9622 9623 -002 46125 

Mar98 9S.99 9594 9S.9S -OJO 47586 

Junta 95J4 9171 9522 -am 30,927 

Sep 98 9155 9552 9&53-0JH 18547 

5k 98 95. JO 9SJ8 9638-0.02 34593 

Eel. sales- »76B. 

Open irtU 251501 up 137. 


CAC 40 (MATIF) 

FF200 par index paM 

N«vW 2^0 27595 27960 +S1 

2*2 SS^ 380U t7, - S 

Mats 3877.0 379)5 28260 t7ij 

Esl. spies: 21990, 

Open tit j 77^85 off 7JIXL 


51547 

17530 

10318 


Commodity Indexes 


3-MOMTH EUROURA (UFFE) 


m.1 mraion -phrf 100 pet 

Dec 97 9175 


wows 

Reuters 
DJ. Futures 
CRB 


Mar 98 
Junta 


9X49 

94.97 


9171 

9442 

9490 


7172 +003 107,156 
9445 +040 104938 
94.92 +OJ03 106297 


dose 

1,511.0 151180 

'531.70 1,B20J0 

MJ.15 14250 

341 BS 140.04 

. SawcexMagAssocktiiidPiBss. 


Sdn W UM tided Ope 


B»l5 

KDOBZSrn 

Ragn 

nr. 

Secnmi 

SsBcraB 

aa 



Sate W urn Latod Cbpt 


27* 

1U 

8)10 

181 


is . 


i?'+ 


USCA 

(BEntac 

wuuv 


407 
112 
12 3 


47, 

£ 

10-« 

Hi 


111 


ITC 

45% 

10U 

E, 

It 


a, 


I 


4)*» +2h, 


7> 

■F-. 

uu 

32i 


£ 


fr 

V 


as 

t 


SI? 

UQ1 

1» 

1U 

S3) 

11) 




2U 


•f; 

14 

ft 


U«. 

11 '* 


£ 






IBIS 31 

I IS?; I 


U. S. STOCK MARKET DIARY 


Indexes 



MifH lm Lot a«. 
'67439 7X4258 762439 ,222-31 
313146 320335 +71J9 
J42J9 1£3S +244 
-03 244661 250710 *4245 


Mast Actives 
NYSE 


Standard & Poors 


SS SB? 

AAnTewy 

GenEMs 


AT&T 
wmstoMlnc 


At 

^udsharsRgdet 


•The finest watch in the world 

WILL ONLY BE WORN BY EXCEPTIONAL PEOPLE.* 


JuiaiaasAutlBim^. 



imdW Kmchmkv _ 
Ikpanm* IhvTmri lVn«*,Uvr. 
tetap * BSmht Mi 


Aal.*naA B»n> M M wy t Kuatou^K 


tww n», m , i i-ihww, *>« i+u« nr « do*,. +.»» 

latrratt lap -m»'ii»4.—iii|iajiiium r mil lata t » ■ ijirrrt 


Sdte Kgk Lo* Intel Chg* 


(E Fnrig 

CFXCP 

CMdnn 



Mlh Lo* Lrisd Ops 



InduMrtals 
Tramp. 
Uttlities 
R no nee 
SP 500 
SP100 


Ttesy 
• Ora • 400 

-106555 109446 

— 668.73 68147 

— 20638 20843 

— 109.10 11158 

— 91452 938.94 

— 87343 89753 


Ponls 


UL MB* 
■5160 47Vi 
01113 4l«* 
45351 bit 
55507 112 
57961 Z74e 
534)8 67H 
47394 » 
47294 ]33* 
47/59 

42584 1021, 
38384 SB ’'a 
353X5 281* 
35034 |40*» 
33930 2*1» 

33713 431* 


►1*2 


Ln lot 

p-%: *?r: 

TSJ'l- lf’» .liy 


n-. 73'. 

471, 47>. 
101 

S7'i 5B5o 


7ft _ . 

I J4 l ; 13t-r 
27'. IP. 
an w, 


di‘ 
♦ >- 

at: 


NYSE 


Nasdaq 


S2SSSK 

™**u- 


Transp. 

unihr 

Hnance 


49764 
4> /is 
461X5 
30069 
467 4fl 


tna +1169 
617J5 +15J0 


spi 

46760. 


+964 

+5.10 

+10.13 


Nasdaq 


mar. 


’430.15 


FtoatKe 

Tratnp. 


129663 1279 JO 179461 
19X136 193L06 1ML79 
1788. lx 177631 I7B6S1 
227235 2248.74 327235 
110265 1PBS61 110034 


+3634 
+27.92 
+ 1731 

Tfifi 

+1835 


MjeroMti 

Orooei 

ass. 

tecera 

£So 


145980 !9 
106270 34' I 
88/44 BX'i 
86877 44)1 


7/«u TB+i 
34+1 3as» 
B7'l. 84<t 
4t»» x3+e 


82093 134 '4 131*. I34'l 
81954 3MJ JS JSH 


78716 534, 
71485 B34| 
75448 31 
48495 34', 
63247 34'i 
5BS99 34V- 
58210 

54495 la*, 
5)063 '•» 


CT*. 

•1-9 

-l'* 

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•4 l , 


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47+ 52": 

■l*r 83*, 

2t>:» 34*-. 

7W* t)’i +10^ 

34 34', +Tn 

23^1 3 Wd 
25'-. 24 

35 3W 

tt "41 


+^n 
+*» 
♦2*5 
♦te ' 


AMEX 


Hl*6 *4» IM Ck*. 
485.90 47574 48539 +10.14 

Daw Jones Bond 


AMEX 


If 


— - I “WWP 

Kean 


20 Bonds 
lauwiite 
10 Industrials 


103397 
10139 
106. OS 


104.18 
101 BB 
10669 


tort. Hl«> 
52785 94". 
16466 »*» 
U914 216 
*310 22K, 

7010 It). 
4970 27*. 
<837 *i 
5163 ». 

4778 44. 

4130 Mi 


Low LOST 

92 r* 94V. 
8"Ai 01 
3*1 71 

.3! 21 ta 
m. iii. 
29 39". 
’» VI 
3 3 

-XI. 4V. 
69. Ml 


$ 

+7*4 


Trading Acttvity 


NYSE 


Nasdaq 




Inuts 

m 




2093 

896 

447 

3X36 

56 

15 


Adyaad 

Decflned 

vssrs^i 

Ks:t^ s 


2582 

131B 

1697 

5597 

87 


2818 

1509 

1X10 

“IK 

67 


AMEX 


Market Sales 



3 P 

m 


Jf? 


NYSE 

Ante* 

Nasdaq 

InmdHons. 


Todn 

MC 

56366 

3443 

57241 


74249 

3245 

710.01 


Dividends 

Company 


Par Amt Rec Pay Company 


STOCK SPLIT 
JMjwn Hewnt2 for l spot. 
Wwtef Min 4 for IspRf 
Mead Carp 2 fori spin. 


INCREASED 

^JieaiyFftd Q 69 11-28 12-15 

St Frauds Capital 


53)128 12-10 
-Ml 1-10 Tl-21 


CTS __ 
Fstum 


Cora n 
ffllBnep. 


INITIAL 


X6 12-31 100 
■« 11-7 11-14 



REGULAR 

S -05512-10 


CpfrLrasRsrch 
Dow Dow 


_ Downs 
Duff Phelps ut 
Foil Rlw Gas 

Fst Fed! Capital 


-]* 11-21 12*5 
STB ft* 

i!-w 

-1011-13 12-2 
D8 11-1D 12-10 
JM 11*17 11-28 
■W JM 11-15 
-1211-20 12-11 


FslOoKBrookB 

Franchise FlnAm 

Fremam General 
ImnsceUd 

Wcixids FcxxJs 

Muni Ad* Fd 
NYTxExemptlrica 
Noranda Inca 
ftegon Start 

Peoples Be 
Pilgrim Am Prim Rt 

PtovifianFnd 

RJR Nabisco 
RtoAtg wnUdg 
Seaway R»d 
SothebwHktas 
Span-AmerMod 

SttT” 

USTruylCp 

WodusnhuFA&B, 

VVcstwood Cara 
WMossTeteSm 
Yonkers Fnd 


Per Anrt Roc Pay ' 


-IS T-9 1-2! - 
.45 11-10 11-20 
•IS 12-31 130 

-3011-28 12-2) . 

.055 11-18 12-2: 

.04 11-U 1T-J8 • 

, .0511-10 11-94 . 

M .0665 11-17 IM ; 

M -053 11-17 12-1 
Q 3S 11-28 IMS. 

Q .18 11-U 11-28 • 

S . I 111 ’ 4 T»*»- 

M .(MS 11-10 11-20 
Q .05 12-1 13-lS 
0 SI 25 13-15 1-1 .1 

JS 11-21 IM - I 
.M!M1 IM), n 
.10 11-M iMl , 
-MSll-rt IM’ 

■07 1-12 1-28 
OB 11-7 11-21 : 

-IS 1-9 1-73 ' 

.065 12-15 1 5 ‘ 

01 IM )?-9j * 

.05 12-22 1-J' 

AM ID 31 11-U 


jast asaaggaL^ 


Stwn Tables Explained 


Yearly hiotw and iou* » 


lt» latest dectanrtlon. 
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PAGE 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY NOVEMBER4,19$7 

EUROPE 



Germans Give U.K. Monetary Nod of Approval 

Tietmeyer Reminds 


London of Criteria 


CcmpafdbfOieS^FnmDdpaKim 

AACHEN, Germany — The 
president of Germany's central bank 
gave a nod of approval Monday in 
the direction of Britain's eventual 
membership in a European currency 
onion. 

But Haas Tietmeyer also cau- 
tioned that nations seeking to join 
monetary union after the planned 
1999 inauguration date must first 
complete a two-year membership in 
the currency grid known as the ex- 
change-rate mechanism, which sets 
limits on fluctuations between 
member currencies. 

Speaking to reporters, Mr. Tiet- 
meyer said, "If they want to join 
later, the UJC. must have partic- 
ipated in the exchange rate mech- 
anism for two years.’" 

The British government said last 
week that it would not lead the na- 
tion into European economic and 
monetary union before 2002. 


Mr. Tietmeyer also praised Chan- 
cellor Helmut Kohl’s idea of keeping 
a seat warm for late-comers on the 
European Central Bank board, which 
many see as a reference to giving 
Britain a role on the directorate. Gov- 
ernment sources, while unwilling to 
confirm such an offer had been 
made, said the idea was plausible. 

Mr. Tietmeyer also signaled that 
the Bundesbank was in no hurry to 
raise interest rales solely to close the 
gpp in money-market rates between 
countries hoping to join die common 
European currency in 1999. 

Mr. Tietmeyer said speculation 
that the Bundesbank needs to raise 
rates again “soon” to seal the dif- 
ference in short- term rates in Euro- 
pean Union nations “misdia- 
gnoses” the situation. 

He was backed by two other 
Bundesbank council members. Jo- 
hann Wilhelm Gaddum and Ernst 
Weltefce, who both expressed con- 
cern about rumors that Germany 
would lift rates solely to meet an 
average of all European countries 
hoping to join the common currency 
in 1999. (Reuters. Bloomberg) 


Britain to Take Part 


idency to ensure that those countries 
who wish, to form a single currency 
j n i . ./ ■ i7 can get off to the best possible 

in r tanning the Euro start* 

Meanwhile, the chancellor of the 


Russia Tops Roster 
Of Nations With 
Highest Corruption 


Investor’s Europe 


By Tom Bueikle 

l ntr national Herald Tribune 


LONDON — Britain's Labour 
government promised Monday to 
play a constructive role in the cru- 
cial decisions that will be taken next 
year on inaugurating European 
monetary union, even though it has 
decided against early entry into the 
planned single currency. 

In a speech in Dublin outlining 
the government's priorities for its 
presidency of the European Onion 
m the first half of next year. Foreign 
Secretary Robin Cook said Labour 


Exchequer, Gordon Brown, defen- 
ded the government's announce- 
ment last week that itfavared mon- 
etary union in principle but that it 
would put off a decision on joining 
until at least 2001 or 2002. The delay 
was needed to pre p are the British 
economy for participation, and was 
not simply a stalling tactic, be said. 

“1 firml y believe it is possible to 
build a broad consensus across the 
country,” Mr. Brown said. “We 
want to be prepared for this, in or out 
of the euro.” 

He declined to comment on re- 
ports last week that Germany was 
seeking to leave a seat open for Bri- 


would show “onr constructive ap- 
proach to Europe at its best” when it- tain on the board of the 
chaired a special summit meeting in pean central hank, ~ 

May at winch countries joining the — * 1 — 1 

single currency in 1999 would be 
selected. 

“We want economic and mon- 
etary union to be a success,” Mr. 

Cook said. “We will use our pres- 


ooenft 
; future Euro- 
cniy that 
"we want the best possible repres- 
entation.” But Edme George, the 
governor of die Bank of England, 
called the G erman signal a “clear and 
positive response” to Mr. Brown’s 
support for the single currency. 


Foreign Sales Help Lift VW 


Cost-Cutting Also Is Cited as 9-Month Profit Rises 83% 

bv Our Stuff FmmDapiachfs 

WOLFSBURG, Germany — Volkswagen AG said Monday that a surge 
in foreign demand and continued cost-cutting helped lift its net profit by 83 
percent in the first nine months of J997. 

_ . VW, the largest automaker in Europe, said it earned 852 million 
Deutsche marks ($49 1 .8 million) in the period, while sales rose to 84 billion 
DM from 74.5 billion DM a year earlier. 

Cutting costs by building multiple models on a common chassis, the 
effects of a weaker Deutsche mark and continued demand for its cars have 
enabled Volkswagen to move ahead of competitors in a year when rivals 
such as Ford-Weike AG and France^sTteoault were just itturning to profit 
and Adam Opel AG anticipated stagnant earnings. 

* ‘The company is getting a considerable help from the currency side, but 
it is also in part to strong unit sales and lower costs,” said Bjoem Kirchoer, 
an analyst at Banque Narionale de Paris in Frankfort. 

Volkswagen's shares rose 49 DM, or 4.8 percent, to close at 1.068. 

Unit sales in the first nine months rose 7.8 percent, to 3.19 million 
vehicles, while deliveries to customers rose 8.7 percent, to 3.25 million 
units, the company said. 

Volkswagen forecast a positive result in the final quarter of 1997. It also 
said its Skoda unit in the Czech Republic and SEAT unit in Spain had 
shown positive results. 



Volkswagen workers at a plant in Zwickau in Eastern Germany. 


Raters 

LONDON — Russia and other 
members of die former Soviet Un- 
ion rank as the world’s most corrupt 
countries, according to a survey 
published Monday. 

Control Risks, a consulting firm 
bafed in London, said European and 
American executives viewed Russia 
as the: most corrupt country. - 

Nigeria, long associated wife in- 
vestment scams and other corrupt 
ices, ranked second but was 
closely by Ukraine, 
Azerbaijan, Uzbekistan and Ka- 
zakhstan. 

■ . The European Bankfor Recon- 
struction and Development echoed 
die finding in its- 1997 Transition 
Report, also released Monday, 
which toe former Communist 
states had a higher average corrup- 
tion scare than any other region. . 

Other countries in Control Risks’ 
top 10 were Ghana, Bulgaria, Iran 
and the former Yugoslavia. 

The perception of corruption in 
die farmer Soviet bloc may reflect 
uncertainty about government 
policies, the bank said. Managers 
“appear to rely an corruption — 
transactions which they regard as 
relatively predictable and credible 
-i— as a wmm of hedging against die 
risks associated with the instability 
of government policy ,” it said. 

International or ganizatio ns, in- 
ducting die International Monetary 
Fund and the World Bank, have 
recently signaled a new “get- 
tough” stance on corruption. 

But Control Rides, which sur- 
veyed 100 top exeouliyes-and-di- 
. rectors of large companies in Bri- 
tain, Germany, Scandinavia and the 
United Stases, said business had a 
“schizophrenic” reaction to cor- 
ruption. Four-fifths of companies 
surveyed bad corporate statements 

-^^fo^^^ri^^tedprocedures 
to investigate corruption. : 



Source: Tetokurs 


Very briefly: 


• Liberty PLC offered itself for sale to fight off a bid to 
control of the British clothing and home-furmshmgs retailetj 
toe bid is being made by an alliance of descendants of the 
t diss ident shareholders. .. . _ . 


company’s founder and i 

• Astra AB posted a 7 percent rise in pretax profit for ihe finil 

nine months of the year, to 10.5 billion kronor ($ 1 .4 billion), asi 
sales at the Swedish pharmaceutical company rose 1 5 percent; 
to 32.4 billion kronor. M \ 

• German manufacturing accelerated in October, fueling 

upward mice pressures but also lifting employment, according 
to the BME/Reuters German Purchasing Managers* Index; 
The- index, modeled' on -the National Association of Pur-j 
chasing Management index in the United States, indicated the 
14th consecutive mouth of growth in the sector: - ; ; 

• Grand Metropolitan PLC and Guinness PLC win make 4 

cash distribution of £2.8 billion ($4.7 billion) to shareholders 
after they gain U.S. regulatory approval of their planned ££4 
billion merger, expected by year-end. The European Union 
has already approved the deal, which will create a drinks 
company to be railed Diageo PLC. . ^ 

• Italy’s public-sector deficit in October was: around 1j6 
trillion lire ($9.8 billion), down about 4 trillion lire from 


FromJamiaiy to the end of September, VW increased its work force by Unions 9 Ranks Dwindled 50% in Decade, UN Agency Finds 

7 percent, to 279,153 employees, to meet demand for new models in its _ ... . 


October 1996 — a level die Treasury Ministry said was 

edfo 


expanded product line. 
Though Wes 


employees 


l Western Europe remains VW’s core market, accounting for 
about 60 percent of group sales, growth there trailed that in other regions. 
Sales in Western Europe rose 5.1 percent, compared with a 16.4 percent 
increase in toe Asia-Pacific region, a 10 percent rise in North America and 
a 7.7 percent climb in South America and Africa. 

“VW is a restructuring story and still has strong volume growth,” said 
Sabine BIumeL, analyst at IMI Sigeco U.K. Ltd. in London. 

Among VW’s subsidiaries, Skoda saw toe greatest growth in sales, 28.7 
percent, to 243.500 units. Sales of VW’s Audi brand rose 14 percent, to 
41 1,698 units, followed by SEAT, which pasted a 13.5 percent increase in 
sales, to 299,000 units, and the VW brand, which posted a 5.8 percent 
increase in the nine-month period, to 2.3 million units. Worldwide, VW 
sold 3.25 million cars. 

Since 1993, when Chief Executive Ferdinand Piech began his reor- 
ganization of the automaker after it lost 2.04 billion DM, toe company’s gross 
profit margin has improved to 1 1.7 percent from 7.14 percent. 

(Reuters. Bloomberg) 


Reuters 

GENEVA — The International 
Labor Organization said political 
and economic change in toe past 
decade had cut the percentage of 
workers enrolled in trade unions 
worldwide by almost 50 percent. 

Although part of the difference 
came from former Communist coun- 
tries where workers had abandoned 


many countries had 
maintain their influence 
i dating their strength 
trial sectors and recroiting members 
in new economic areas. 

Only 164 million of the estimated 
lillion 


“perfectly in line” with reaching die 3 percent level needed 
join European monetary union at its inception in 1999. 



tin the Czech Re- 
percent in the United 
percent in Germany. 

In France, often vie wed as ac en- gf portfolio around high-mcome-producing properties ’in 
ter powerhraiseof labor strength, the BiiiainJTbe company said in September it would sell its U.ti, 

. . „ drop was 37.2 percept, . bringing the and Australian assets arid buy a rival, PSIT PLC. 

workers m the world,. proportion of die work force en- 


• MEPC PLC, Britain’s third- largest real-estate company, 
sold 191 small properties in Manchester and London to G ( |B 
Capital Services for £300 million as part of a reorganization' 


about 8 J percent, 

1995, the report said. In 1985. 


ions in 
about 16 


13 billMJU WUUDS 111 UK Wtniu, |»WUtUUU U> UK wuik 1U1UC «ai- . ■■ | 

belonged toun-’ rolled in unions by 1995 down to 9.1 • Bass PLC agreed to buy Carisberg-Tetley PLC’s Burton 
iortsai<Unl985, percent, by for the lowest in brewing and malting operation and will close breweries 
were unionized. In Europe. Sheffield and Cardiff at on expected total cest-of £25 million* 

unions they were, once obliged. lo_4nst_14.0fihe.92 countries Xt^IahortinraniTation’s director^. The deal, which is ; subject to regulatory ap proval. i s due to be 

join, it said. Western countries with was more than 50 percent of the general, Michel Hansenne, said tfos^ .completed in January. 

work force in unions. In 48 of toe 92, reflected foe feet thatRrench unions l . British Petroleum PLC agreed to buy Groupe GAN’s 6.5 
the figure was less than 20 percent were largely organizations that only stake in BP France for 493 million French francs 

fo all but 20, umra membership militants joined but that still attrac- [$35 4 minion), or 180 francs a share. BP also agreed to buy a 
declmed between 1985 ^1995. ted large nurhbera of norunemberain £ 63 stake in BP Oil Espana in mid-E^mber for 

The r eport recorded reductions support of spwific actions such as 8v2 00 pesetas ($56) a share. afp. afx. bi, umbers. Reuters 

ranging from 77 percent in Israel this week^s stake by track drivers. r 


long traditions of organized labor, 
such as Britain and France, also had 
seen steep declines. 

In its annual World Labor Report, 
the organization, which is an agency 
of the United Nations, said unions in 


Hanfer-i 4PM 


WORLD STOCK MARKETS 


Mgft Low dm Pray. 


Monday, Nov. 3 

Prices in toad currencies. 
Tetekurs 

High Law Clue Prey. 


OftSvendbrgB 
W5T917B 
FlSbWB 
Kob LuJlhayne 
Hvo Norton B 
Sopfttra BerB 
TdeDawAB 


Hi* Low Close Pre*. 
410000 405000 407908 400000 


Amsterdam 


AEX tadec BKL77 

ProkHB; 8S9-57 


TrygBoflka 
UflUanmaifc A 


"!8 

289710 79S29S 
175 178 

795 

780 

795 

73S 

715 72491 

1040 

1020 

102S 

TO 

3B6 

386 

416 

405 

410 

457 

442 

453 


175 

785 

710 

W0 

385 

405 

443 


Bklrtfl tartan 
Bk Negara 
Gudang Gaira 
InUcKsroail 


SampoemaHM 
Semen Gnsft 
Tefefcamufttni 


825 725 

850 775 

10350 10000 
2050 1673 

3500 ‘ 3225 
8125 B075 

6675 6300 

3800 3500 

3400 3450 


775 775 

as 775 
10050 10300 
1900 1950 

3375 3400 

8100 8125 
6525 6Z75 

3725 3503 
3475 3350 


ABN-AMRO 
Aegon 
Ahold 
AtonNohd 
Bom Co. 

Boh Wesson 
CSM ora 
Dardhche Pet 
DSM 
Elsevier 
Fori is Ann 
Getiuria 
G-Sroccvo 
Ka gammer 


HatMMWtSCVO 

KunfDougkB 

ING Group 

KLM 

KNPBT 

KPN 

SW* 

Oa Grtnlen 
PfajfipsEl ec 
Puftwtb* 
RawstadHdg 
RatKco 
Rnflamco 
RafllKB 
Roretria 
I Dutch 


Rort Out 
Unilner 


Vemtelnfl 

VNU 

WoBen Klava 


40.10 
140 JO 

52.10 
344.7U 
14190 
31 SO 

90 
107 
179 50 
31 JO 
79.90 
66 
S3 
8650 
327 JO 
92.20 
8050 
8160 
4890 
44 

76.10 
9720 
SLSO 

22440 

158 

114 

60 

183 

5740 

17550 

11840 

106-50 

107 

108 


244 


39 JO 39.90 39.10 
155 159 153 

5050 51.90 49.70 
342.7U 36 jo 342.10 
138 140 JO 137 JO 
31 31.10 31 

88 89.40 0840 
WS5Q 10630 HR20 
177 17950 175-30 

30.70 31.10 30 JO 
77 7470 7630 

4440 6 6410 

Sl.ro 5140 51 J0 
8440 85 JO BSJ0 
318 327 JO 31550 
90JD 9180 89 

76JO ROJO 80 
82J0 8440 81 JO 
66.90 68.90 6530 
4430 45.30 4420 
74J0 73-70 7420 

57.70 50 S7.10 

5410 57 JO SSJ0 

222JD 213.90 221J0 
154 1S4J0 152 

109.10 11050 1104) 
7650 79.90 77 JO 
t79J0 183 181 

5650 57.30 57.10 
17480 175J0 17550 
118J0 11440 118.90 
10430 10630 102.70 
10450 10650 10120 
10650 10750 106 

4610 4600 44 

239.00 243 23640 


Frankfort 


DAX 385607 
PNrtMk 372449 


Johannesburg 

Prevwn: saw.12 


AMBB 144 

Adidas 254 

AfflcroHdg 399 

Urn 129 JO 

Bk Berib, 43 

BASF _ 60.10 


BaierHnoBk 74J0 
Bay.Vtrdrcbanfc 10230 


Bangkok 


ArfvIrrioSvc 

BrrogfcokBkF 

KrunaTMBk 

PTTExptor 

Sam Cement F 

Stan Com BkF 

Trietumasia 


TMAkwan . 
Thai Form Bk F 


UtdComn 


SET Mae 44744 

PwWow.447^} 

234 214 230 216 

148 140 148 140 

1430 1175 1425 14 

394 382 382 380 

370 332 366 342 

BOJO 76 77 78J0 

19 1725 1775 18 

4625 4175 41.75 46 

120 112 120 110 

7050 4150 6150 60 


Bombay 


Seem 38 Mb 379052 
Pievton: 393633 


« 

75.ro 

Bavng 79-3} 

BMW 1298 

C LAG Catania 152.90 
Commerzbank 41JQ 
Dai trier Beru 120.40 
Degaiw B2J0 
Doutjdw Bonk 11535 
DeutTektem 3370 
DnadflcrBm* 7240 
Freseniw 268J0 
FiwenlwMeri 125 JO 
Fried KTOPP 351 
Gche 

HerieBjg Zint 
Henkel pW 
HEW 
Hod ifiri 
Hacctet 
Kantodt 
Lriwera 
Unde . 

LufnwfeaH 
MAN 

Msnnesmmn 
Metai3C3eltacha«3i50 
Mein 80 

MaacfLAKdiR 515J0 

PieusMta 475 

RW£ 7770 

SAPpM 510 

SdKrtw 176 

SGLCarton 2» 

SJemm 11030 

Sprinoer(A»n uso 

Suedzuckn 89$ 

Thyssen 412 

Veto W 

VEW 571 

Vtoq 824 

Vtfawoan 1040 


,2 
9450 
470 
73.10 
4850 
.405 
B5J0 
1060 
32JS 
52450 
746 


164 
24850 
39530 
126 
<250 
5965 
7155 
101 JO 
61-33 
7460 
39.10 
1386 
151.20 
59.90 
11850 
79 JO 
11480 
3355 
7150 
245 
122 
349 
93 
142 
93 
465 
72 
6740 
*4 
85 
1050 
31-45 
522 
751 
3450 
79 
509 
■<57 
7670 
502 
17280 
M2J0 
109 
1450 
880 
40830 
9750 
568 
817 
1835 


144 14050 
24850 24950 
39750 384 

17630 125-30 
4250 4230 
59.90 5830 
74 7130 
10150 100 

el-60 6050 
7440 74 

39.10 39.10 

1209 1247 

15130 14930 
61 JO 5830 
120 11530 
8030 7730 

115.10 11250 
3170 32-30 
7270 7030 

26830 244 

125 12150 
35050 33050 
95 90 

144 14120 
9440 8930 
465 465 

73 7420 
6875 6540 
599 600 

85.10 85 

1055 1040 

3145 30.10 

524 519 

744 72S 

3450 3430 
80 7550 
51530 502 

—475 -447 
77 7400 
508 49430 
176 147.10 
leuo 242 
10955 10610 
1450 1450 

895 870 

4I0J0 38050 
98-40 9610 
566 530 

B24 80030 

1068 1019 


ABSA Group 
AngiaAjnCori 
AngtaAm-Cpra 
AnqtaAoi GoW 
AngtoAmbtd 
AirtoAMPW 
AVMlN 
Bartow 
C.G. Srrih 
DeBeen 


3150 28*5 3175 fflJO 


766 

266 26650 

266 

2)9 

20850 

JIB 

308 

2)8 

210 

215 

214 

KJ 

14070 

145 

144 

■lj 

7370 

78 

74 

a so 

870 

HAD 

820 

51J0 

49 

50J0 

4830 

22-30 

21 

2240 

2) 


Fit Nan Bk 

Gencor 

GFSA 

Imperial Hdgs 
Inpwe Coal 
Hear 

Johnnwlndl 


125 113,20 11530 11480 
3550 3450 3530 3435 
38 V. pn 38 1* 
1155 1050 11.10 1050 
85.10 82 85.10 


Rctnbnjnct Go 
Rktenort 
SA Breweries 


6150 

2005 

141 

«70 

3X 

12640 

16 

98 

1530 

10660 


90 


6130 59 JO 


20.05 


19 


252 250 


5610 


15 


SBIC 

TieerOots 


13050 

3273 

6050 

212 

73 


59 JO 
1930 
147 
54 

311 330 320 

121 122^40 120 

1450 16 

9330 

1425 154) 

102 1064) 

38 

3430 

12740 13040 12740 

3275 3230 32 

5680 6030 58 

205 212 2M 

68 7230 6730 


97 JO 9750 
15 


101 


40JO 3950 
57.10 567D 


Kuala Lumpur c e«p«8« i 77472 

PlMMAJJ- nU9 


AMMBMas 

Genflng 

MriBaoUng 

MribdlSh^F 

Pe!roiii»G« 


PuHcBk 


Resorts Worid 
RoBsnam PM 
SraeOatby 
leMmaMai 


Tenaga 

Utd&S 


MU 

HtodnstPcIIm 

IndPevBk 

,TC rTel 


Mohanogarl 
Reftnxlnd 
State Bk hrtfia 
Steel Artnorttr 
Toto Eng l«o 


582 570 57250 59875 

I31Q1276SJU0MS 1257 
47750 47425 <7675 481 

90 96 9775 99 

S76 54050 56075 5«dJ5 
254 ■ 244 3450 25775 
190J5 18125 18775 20075 
26475 25275 25730 27S2S 
IS 1450 1450 15 

32730 317 327 32875 


Brussels 


BEUBtate&8t90 


: 233484 


Afaanl 
Boron kid. 


Boro: 

B8L 
CBR 
Coinifl 
DeBirireUon 
Sedrotel 
Efcdrathw 
FortbAG 
Gevoort 
GBL 

Gen Banque 

KittBetenk 

PetteAa 

Powetfin 

RoyakBatoa 

SacGeoMi 

SoMy 

Tnx*M 

UCB 


1575 1540 
7140 4920 

9230 9090 
3250 3110 
1 9500 19100 
1720 1490 

8140 8000 
328S 3240 
4930 4820 
1478 1474 

3700 5510 
14900 14400 
15200 15000 
13425 13B5 
5080 5080 
9970 9500 
3295 3200 
2200 2180 
a m 3050 
I258S0 124400 


1570 1575 
7140 4850 
9140 TOO 
3250 3100 
19500 19050 
1700 1485 

8110 7970 
3285 3300 
6840 6740 
147B 1452 
360 5500 

14900 14525 
15150 14900 
13400 13075 
5080 5030 
9790 9400 
.1990 1990 

• 2190 2140 
3065 3025 
125200 I22TO0 


Helsinki 

HEX General tadtac 354735 



PrarieuE 344357 

En»A 

50 

49J0 

50 

49 

HuhtaunkJ 1 

218 

213 

718 

213 

Keratro 

1530 

53 

wsn 

5730 

Kesko 

75 

73 

74.90 

7230 

Merita A 

2630 

2530 

•AJS 

23J0 

Mebu B 

147 

139 

14130 

TO 


47 

46 

4650 

4530 

Neste 

130 

130 

TO 

TO 

Nokia A 

472 

467 

468 

453 


197 

191 

196 

191 

Outokumpu A 

8050 

7830 

7930 

77 

UPMKjSw* 

124 1163D 

m 

lib. ID 

Vrieet 

B4 

82 

83 

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UM 

YTL 


£85 

550 

£25 

£45 

9A0 

9JS 

935 

950 

1350 

1370 

1170 

1270 

6J0 

SAD 

470 

5A0 

970 

9 

9J3 

9 

870 

8 

670 

8 

135 

2.13 

272 

259 

3.16 

356 

358 

106 

STS 

1VS 

670 

£95 

77J5 

2675 

27 

2675 

570 

458 

£15 

450 

975 

175 

970 

■AS 

8 

7-20 

8 

770 

835 

8 

8TS 

750 

452 

3AS 

4 

370 



High 

Law 

Ota* 

Praw. 


1025 

1010 

KU7 

10 

(mmn 

276 

2AV 

271 

273 

Legal GeriGip 

SOI 

477 

484 

495 

Lkjyds TSB Gp 

7A4 

735 

£ 

755 

Lucas Vwflf 

2.10 

256 

255 

ASaiteSpericw 

SJS 

6.10 

678 

670 

MEPC 

SJS 

57U 

its 

252 

£» 

MerowrAHri 
National Grid 

1355 

255 

1273 

232 

13.15 

251 

NaaPoww 

£01 

490 

498 

491 

MoTWrel 

L8& 

148 

m 

839 

Nod 

733 

6255 

7.10 

Nocvridi Union 

349 

139 

147 

35) 


7J3 

273 

2J1 

334 

PW 

7 

6JM 

6.98 

670 

Pearson 

7.9) 

IM 

/78 

770 

POUagtoa 

133 

6.70 

159 

440 

130 

6A8 

131 

639 


464 

460 

460 

452 

Prottarttal 

630 

6JB 

659 

636 

BaatetAGp 

9.98 

932 

979 

953 

Rank Group 

137 

37V 

& 

333 

RedJH Cairo 

9.10 

832 

877 

Redo ad 

141 

128 

131 

140 

Reed tall 

£94 

S79 

£59 

£90 

RentaU taifial 

ZSS 

7J8 

259 

250 

Reuter* Hdgi 

£90 

655 

638 

647 

Rawm 

3.17 

X10 


111 

RTZm 

RMC Group 

755 

750 

758 

930 

VOW 

9.15 

959 

RofcRorcz 

RorolBkSCoi 

2.19 

2.11 

2.14 

214 

635 

672 

65) 

6J7 

Rom & Sun fiM 

6 

4 

SJS 

350 

m 

572 

358 

StOrn txry 

£12 

497 

£07 

498 

saw wter* 

18195 

1676 

185) 

17.10 

Sari Newcastle 

755 

677 

754 

675 

Sari Pcwer 

430 

415 

455 

456 

Securicor 

272 

259 

259 

271 

Serem Trent 

8.73 

833 

864 

864 

She! Tramp R 

4J4 

472 

ii3» 

423 

5tabe 

11.90 

1155 

1155 


177 

174 

L7A 

174 

SrataiKSne 

575 

535 

557 

555 

SmBhs bid 

850 

842 

864 

865 

StaeraEtoc 

4A4 

430 

430 

439 

Stogecoacti 

753 

777 

734 

779 

SfertoOrartw 

6.90 

635 

Ei. a 

6 AS 

Toto&Lyta 

4A3 

437 

BZzfl 

455 

Tesca 

489 

471 

cl 

477 

Thames Water 

9.19 

830 

955 

955 

3, Group 

490 

475 

489 

474 

Tl Group 

£50 

£31 

£38 

55 

Tarnktos 

358 

254 

106 

210 

llnlevcr 

436 

440 

435 

-JJ3- 

Ufa Assamrez 

493 

473 

452 

476 

Ufa News 

B 

736 

757 

730 

UM UtOles 

747 

7.10 

73s 

779 


145 

163 

£ 

353 

Vodafane 

115 

378 

175 

wnabread 

8.10 

778 

857 

810 

wnamHdgs 

190 

332 

351 

333 

Wolsetey 

£22 

485 

ill? 

497 

WPP Group 

2J5 

270 

272 

273 

Zeneca 

1957 

1843 

1959 

1881 


Higk Low ' One Pray. 


High Low dee# Prav. 


London 


Madrid 


Hongkong 


81 Eos) Asia 
Cottar Poafic 
Cheung Kang 
CKIrirmfeud 


OwsUgtrt 
: Pacific 


Bk 


■7135 

1850 

850 

5&25 

jiH 

3970 

1970 

560 


Otic 
Doo 
FW 

Hong Long Dev 1270 
Hong Seng Bk 7350 
Hwtfmonlnv 640 
HendenMiLd 
HKChfeoGos 
HKDedric 
HKTatennnn 


Market Closed 


4620 

15L30 

2840 

’13 

1B7J0 

aj$ 

17.10 


The stock market Tokyo 
was closed Monday for a hol- 
iday. 


HvsonDev 

Johnson El Kdg 2220 
Keny Praps 1 
NewWorMDev 
Oriental Press 
Petal Ortentri 


SHK Praps 
nTokH 


Copenhagen 


ShunTakHdgs 
5mo Lurid Co. 
SStCWitaPost 
Swire Foe A 
WhartHdgs 
Wheetadt 


205 

°S 

617S 

290 

i3) 

1750 

950 


650 

17.70 

840 

54 
20 

3950 

38.10 
1215 

4.95 

11.10 

49 

6 

4330 

1650 

2630 

UM 

233 

181 

55 
1640 
21.15 
1610 
2750 

1.98 
057 
58 
270 
£10 
665 
4150 
1 44J 
9.10 


695 665 
1865 1 7 JO 

an ms 

5750 54 

2150 19.90 
3950 4040 
3850 37 

1960 1755 
535 659 

1150 11 

7350 67 

610 570 
4450 4180 
1685 1460 
2270 26» 
1525 1475 
265 118 

185 17650 
5725 5175 
1640 1615 
2150 21-10 
1620 14 

29.95 2720 

2 193 

061 055 

4025 57 

2*5 263 

525 5 

475 470 

4610 4120 
1720 1685 
920 8*0 


Abbe* Non 
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AswKBrftotH 

BAA 

Brettaiis 

Rnw 

BAT Ind 
Bo* Satin* 
BtueOrota 
BOC Croup 
Boats 
BPS In) 
BriAcnsp 
Sri) Airways 
BG 

MLand 

BAPabn 


W» ... 

BriTetacea 

BTR 

Bunnob Cestrol 
Barton Gp 
CoMeWkriess 
Catory Seta* 
Caiijon Cocan 
CorhtI Union 


Otaais 

EtacSranpori 
EMI Group 

FotnutonU 

GwrtAakkn: 

GEC 

GKN 


GnaodaGp 
Grand M4l 
GR£ 

GreemfcGp 

Gutonexs 

CVS 


BG Barit <69 4H 427 421*7 

cSfabeaB ® “ 

Codas FOR 9W 990 TO 1010 

nnn *OTi J79 U\JB8 372 371 

DuoDatUeBk 750 741 74426 740 


:mfp 


Jakarta 


HSC 

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bo pi Tobacco 


Astra tad 


JR50 2700 2700 2475 



FT-iSE )9fe4M659 


PnivtouttC 

•4238 

970 

9J6 

935 

957 

£10 

487 

499 

487 

810 

7.90 

£02 

801 

435 

£35 

654 

672 

138 

,54 

135 

155 

499 

475 

487 

480 

£60 

£45 

£57 

556 

1538 

1506 

1529 

1493 

BAD 

823 

£47 

878 

£37 

£23 

£31 

£22 

£17 

472 

£04 

492 

355 

355 

333 

332 

1075 

998 

1075 

10JD3 

894 

851 

877 

854 

128 

124 

125 

326 

I&J2 

1156 

1676 

I5.B0 

6 

£81 

£93 

£82 

NA 

HJL 

NJL 

258 

7.14 

887 

7.02 

695 

951 

872 

878 

854 

435. 

411 

426 

423 

151 

lia 

130 

\M 

439 

450 

456 

453 

227 

105 

9, DO 

151 

1830 

10.15 

10.18 

1025 

179 

177 

178 

178 

S 

477 

486 

476 

655 

£80 

£96 

6 

5 

480 

486 

493 

864 

832 

853 

850 

630 

677 

430 

836 

278 

273 

276 

277 

753 

659 

697 

697 

*1458 

453 

455 

463 

499 

481 

498 

483 

.812 

6 

812 

805 

671 

650 

659 

656 

17! 

159 

170 

170 

1035 

10 

10J? 

1815 

191 

182 

188 

181 

1180 

1250 

1131 

1137 

1107 

127* 

1280 

1278 

875 

818 

827 

815 

£55 

£44 

£51 

£38 

352 

192 

199 

293 

339 

330 

157 

153 

£57 

557 

£49 

£33 

773 

498 

7.W 

757 

7.10 

6.97 

7.10 

897 

1495 

140 

14A5 

14 

970 

£70 

897 

880 

168. 

355 

167 

337 

879 

870 

863 

838 

274 

255 

267 

257 






Acerinox 

ACE5A 

Aguas Bratetan 
Agentarn 

BOMtiD 
Backtator 
Bco Centra Hisp 

BcoPopubr 

Bar Santander 
CEPSA 
Canfinenle 


gaMapfre 

"H i n O 


FECSA 
Gob Natural 
tbenfe* 

Pryca 

n. ■ 

KByW 

SevtaanpElec 

Ttanariero 

Tdetoaks 

UntoaFeaasa 

VataneConert 


Manila 



Baba Ur 

$4651 


Prana** 54894 

22290 

21930 

22000 

71730 

1915 

1090 

1905 

. 1900 

6000 

5870 

9TO0 

5820 

8370 

8170 

83S0 

SBC 

4005 

3935 

3770 

3890 

1380 

1360 

1370 

1345 

7250 

7100 

SS 

7140 

2765 

2720 

2720 

8700 

8500 

8610 

8590 

4140 

4045 

4090 

4075 

4400 

4300 

44Q0 

4200 

2965 

27W 

2785 

2855 

6730 

6550 

6640 

6650 

2710 

2715 

2725 

2740 

1160 

1135 

US 

1125 

6850 

6700 

6800 

6740 

1765 

ITS 

1730 

1740 

2 360 

2290 

2300 

2310 

63X 

6200 

4240 

6100 

1325 

1300 

1320 

1295 

10600 

10600 

10640 

10480 

4085 

4010 

4030 

3970 

1400 

1385 

1395 

1390 

2755 

2700 

2750 

2745 


PSE MU 112516 


Preface 1 fl £89 


Milan 

Ml B Till— H cb: I5889J8 


Pmto*K 1476458 


15000 

14800 

1480 

14565 

Bcd Consn ttri 

4850 

4TO0 

4830 

4620 

Bca Fhteurare 

6800 

6570 

6800 

6*50 

BajJRoma 

1589 

1555 

1570 

13*9 

Benetton 

25300 

24650 

26100 

24650 

Create fafana 

4595 

4525 

-4535 

4515 

Edtaan 

9120 

8V20 

V120 

8850 

ENI 

9995 

9745 

vkio 

9920 

Ffcri 

5525 

5320 

5370 

5385 

GenestfiAssc 

38750 

38300 

3869) 

37850 

EMI 

16030 

M0 

16000 

15140 

1NA 

2800 

2740 


2725 

M&teei 

8040 

6130 

6155 

7975 

6025 

7680 

Mertaritanca 

11995 

11800 

11850 

11470 

Martetttron 

1397 

1377 

1382 

1374 

OOretti 

1055 

1045 

1048 

1027 

Ponnokri 

2480 

2330 

23*5 

2350 

PWI 

4480 

4350 

4460 

4285 

RAS 

15080 

14785 

15080 

14400 


23000 

22350 


22100 

S Paolo Tcrtno 

13090 

12820 

13055 

12845 

Totocoro Itofio 

10840 

10380 

10695 

10610 

TIM 

6«0 

6340 

6415 

6280 

Montreal 



r __^ 


Pntiiii.3 

0*352 

Bee Mob Gore 

4495 

4458 

4 M 

44 ■ 

CdnTteA 

39 

XVr 

7SM 

29 

CdrUUJA 

39 AS 

3916 

3955 

3*50 

CTFlfllSvc 

4690 

4670 

4*70 

47 

Gar Metro 

181* 

1HV5 

UM 

I860 

Gt-WeWUfecD 

3160 

am 

3260 

3250 

hnaBCO 

45 

4455 

4485 

4*30 


43- 

43 

42. 

4140 

LabkwCoi 

20 to 

2m 

- 2Mk 

20Vi 

NalBk Canada 

2090 

70.10 

2070 

20.15 

SSSaS 

43 

42 

4ZK 

«5S 

42 

41 JO 

42 

41 JO 

Ouabocor B 

3035 

30 

3015 

30 

Rogers CarnmB 

970 

9AS 

955 

955 

RonriBkCds 

76M 

76 

76 

7540 

Oslo 


OBXfadre: 

7889* 



• PlMtas: 

69X58 

Aker A 

— TO- 

"ITT 

)?* 

129 

8RBS.V 

209 

28.10 

208 

3750 

2QB 

2790 

20* 

28 

Den name Bk 

32J0 

31 JO 

3150 

3170 

Bkem 

in 

108 

109 10630 

Hfl6Nuntf A • 

42 

4130 

42 

4230 

MroenierAn 

368 

361 

368 36030 

MonkHprito 

NoateSnaA 

ID 

227 

387 

777 

389 38190 
222 22130 

NjranedA 

182 

8130 

182 

■ 184 

OrtfcAiaA 

648 




PeUGenSvc 

510 

489 

901 

481 

SogaPettmA 

Sdtested 

men 

136- 

15 

142 

135 

137 
131 ' 


3B0 

380 

380 

. .390 

Storebrand Aer 

5230 

51 

.51 



Sfio Paulo -XSSSIS 


BodescoPfd 
“ ' iPtt 
jPH 
‘PM 


9.10 820 850 820 

7304)0 4904)0. 7204)0 49600 
4761 4650 4730 444D 
7600 7&0Q 77560 69J0D 
1309 1250 TZJ5 1250 
493S0 470-00 4934)0 445.00 

Pprong ePM soo4n 44000 soaoo 44500 
Sentcha 3854)0 37200 37500 3444)0 
JKL00 27000 30000 2824)0 
PM Z324D 21900 23000 20500 
1714)0 16300 16957 16169 
40.10 7700 3830 4000 
930 94H 941 697 

12090 11500 12070 11000 
1504)0 13300 13449 138-00 
12300 TI0O0 11700 10500 
3254)0 31000 32600 2884)0 
2830 2600 2600 2758 
9-00 830 830 84D 

2600 21 JO 2359 21 JO 


POOUDLUZ 

SldNadQQDj 

SootoCtoz 

TeMmPH 

Tefcirig 

Teteri 

TMnpPM 

Uribonco 

IMMoasPft 

CVROPW 


Seoul 


*1164 
PrariMW 49722 


DaewM Heavy 
Korea B Pwr 

Korea Each Bk 

LGSerolcm 
Paftang Iron St 
Samsung Dtttay 


SKTl 


5X200 46200 
6200 5750 

TSOOO 14500 
7800 78M 
14700 12700 
4650 4400 
18400 15900 
47800 42300 
34300 29700 
*1100 37900 
7890 7260 

332500 285000 


53200 4S700 
6010 5600 

15700 14300 
7800 7430 

14300 13700 
4410 4440 

18400 15900 
47800 42300 
34300 29500 
44100 37900 
7600 7400 

332500 298000 


|The Trib Index 

Prices as of SCO PM New York timer:. 

i ■- 


Tan. 1 . 7992- 100. 

Laval 

Change 

% change 

yaw to INTO 



World Indox 

167^3 

+ 3.02 

+ 1.84 

% cns^ai 

+i 22 q- 



ngglnnaT hutaan 

As&Patik: 

Europe 

101 £2 
187^5 

+ 1.28 

+ 2.51 

+128 

+126 

- 17 . 67 ^ 
+ 16 . IS. 
+26 00 “ 



N. America 

204.00 

+ 4.37 

+ 2.19 

1 


S. America 

145.40 

+ 9.27 

+ 6.81 

+ 27 . 0 tf 

ri 

+ 22 . 9 d; 



Industrial indents 

Capital goods 

210.17 

+ 4.07 

+ 1.97 



Consumer goods 

195.35 

+ 2.68 

+ 1.39 

+21 .of 

' ‘ “ 

>. 

Energy 

199.79 

+ 4.68 

+229 

+ 17 . 03 . 

■ 1 


Finance 

119^1 

+2 22 

+ 1.90 

+ 2 . 3 ff 



Miscellaneous 

1 B 7.45 

+ 5.12 

+ 3.15 

+ 3 . 5 (t- 

- 2 . 7 a 

- t v 


Raw Materials 

170.51 

+ia 4 

+ 1.09 

.. . 


Service 

163.47 

+ 3.56 

+223 

+ 190 ^ 



utmes 

161.11 

+327 

+ 2.07 

+ 12 . 3 li 

•“ ••*■! Si 


The MemationBl Heraki Trtom world stock tndexO tracks the u $ dc&v vnkuxi f V 



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■■■ramus 

Prayfcw® 158667 



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JmdMabMn* 
Jart Strategic' 
KeppdA^ 

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AjataB 

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CU» Hanes 

ManOaElecA 

jWwBaak 

Poftart 

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PMLoagDfst 
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14 1150 HQ 1175 
9SJ0 93JD 95 9150 


170 160 260 265 

M 65 

255 244 


65 6550 
249 245 


« 9 “ 

880 860 


& IS 

880 875 


« 39 3950 3950 

6J0 6J0 6JD 6J0 


Mexico 


BotakdocCffUB 

PlWfiBtt 464744 


Alfa A _ 

Banned B 

CanetCPO 

CilraC 

EmpMadema 

GpoOnaAl 

GpaFBcorar 

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6100 

1730 

34.70 

15L10 

4130 

5530 

300 

31.00 

3820 

13190 

1170 


6150 63«0 6140 
1654 17J3 1460 
33.10 3140 3120 
U70 7680 1450 
4U0 4160 4150 

aa Rio siia 

& ^ 2950 

iS&i&filfflg 

I860 1843 1126 


Lsgrcna 

LCreal 

LVMH 

MJdKfaiB 

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Pernod MeaM 

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Rh-PoutencA 

Sanaa 

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SGSThorom 

SeGenerefe 

Sodedn 

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KJ71 1109 1074 

30258 30550 30350 
*93 906 89S 

690 894 .406 

• 395 40040 395. 

. 730 -938 . 740 . 

396 420 3M40 . 

257.30 263. 2S5 

TOCS 1020 raw 

3040 3055 3010 
317 JO 3T9J0 320 

325 340 32400 

m 640 ■. 645 
438 656 440 

577 603 579 

1272 1272 131 I 

SS6 «2 . SO 
7U! -.722 - 7U 
140 358 830 

755 . 755 940 

S£> 530 145 

21440 21750 Z18J0 
m TO 673 
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1065 1085 1074 

2015 2111 2064 

m wi5 m 
29758 30110 29490 
42B 424J0 41850 
26550 26740 267 JO 
■45S 492 653 

2S9<r 27JV IBB. 




Higb Law aoi* Pray. 

Lend Lane 2930 2165 2955 joij 

MIMHdgs Ut 171 1^ ,75 sSw^Co 

MrtStfSlmL ^ ^ 'J-? 9 ,9j<5 SheUUo A 

Nat Mutual Hdg 235 2^0 235 145 Suncor 

^ t- 81 T olfsnmEnr 
PpaBcDwjtop £08 2.96 J 104 Tecfc B 

PtooeerlaH 350 168 375 376 Teieriobs 

850 8J0 850 B75 T^s 

’J-g IfM IW 17.30 Thomson 

g « g 58 a 80 * 

liM 12^ its iS? 

440 446 455 439 

TVXCrid ■ 

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Hlgb Lew Chne pfp* 

Rogers Conte) 8 2355 2216 2255 ita 

Seaawun Co dfr* jib hu nn 


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5tediltariwttadac76443S Weston 
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28.W 2840 2855 
51.70 51 SI 45 

51.10 SaiO SOTO -~..« 
2540 24*» 24 ti W. 

4650 46W 46U 4410 

34.15 3350 3355 3180 
OJO 52JO 5130 STAS 
1955 1945 1955 1A3B 

26J5 264S 24,15 

72^ 70* 73.10 

36« 3Sta 3*70 3£3S 
6J0 --6 - 6,05 4fl5 

29.15 2890 29.10 2W0 

104 99 99 Sta 



Crihay LSelns 147 13830 145 138 

SMSS US S ,n S Wenns 

□tins Develpart 93 8830 93 8750 . 


ATX Mm3 
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China Develpart ’ 93 8830 ga fn as _ .prewowi 

nSto? 2^0 2150 2470 2370 868f ) 849 

HrrtBarit I(M 99 101 ion crertftratpfd !TO7.95 475 704 #6 

5^25 sfl-g ,S- 50 «W» |5 N GolWnS 2900M10.10 2*95 

SSfittEA. JU 10A S 10550 5, 1 , 5 * 1477 MOB 


HUo Nan Bk 111 10450 10850 ikjo evn 

Infl Comm Bk 5850 56 57 ‘«ro Fkiolwfen Men llu 

s s ss ^ « 

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ttio « % ^tanertxrg Bon 247*342750 24762 


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AGAB 

ABBA 

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AsteA 

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SX-T6 tarire. 32304 
PmtariB 313156 

. « 96 9550 

90 9050 87J 
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123 12S 121 

222 22650 220 

300 30830 30050 
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32650 34150 230 

3T3 321 30650 

657 665 656 

30 35850 349 

■205 209 203 

23850 253 '235 

238 245 23650 

228 229 228 

18550 18S50 18450 
170 17250 168 

n . 82 n 

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292.29*50 2® 

175 176 174 

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240 24550 . 237 
199 20150' 196 


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10.10 952 10.10 -992 

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28.18 2751 2753 27J4 
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405 483 405 482 

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tJhA ji J tlr VSyG 


Monday's 4 pja. cios* 


!«« 


S»ttk Mr Vld PC UCKHUgn 


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x 


ESTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 PAGE 15 


NYSE 

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rac 


The IHT Pocket Diary 
Puts 1998 

Right Into Your Pocket 




• Measures 13 x 8 cm (5 \ 3 in.). 

■ Black leather cover 
with gift metal corners. 
* Personalized with gill haiials. 
■ Wsek-at-a-gbmce formal, primed on 
French Wye paper with gilded page 


IP.t 


Continued on Page 


• 1998 notable dales md national 
holidays in over 90 coentries: worid 
time-zone labte; irftcmatkml telephone 
dialing codes and country prefixes: 
ooovoaon tables of weights, sizes, 
measures and distanoes- 
* Blue ribbon page marker. 
* Includes removable address 
book that fits snugly into its own silk 
pocket No need lo re-wrae your mos 
important phone numbers — the 
address book will fit right into next 
year's diary. 

• Each diary packed in a blue gift bo*. 

• Corporate personalization airi 
discounts are available. 
For details, fin Paul Bakes' al 
(44- 181 1 944 8243 
<jr E-mail: paulbaker@bdnimici.com 




1 




a*-**; 


Year after year - even at a period when 
diaries abound- the International Herald 
Tribune flat , silk-grain leather diary is the hit o f 
the season. 

Ingeniously designed to be thinner-than- 
thin, it still brings you everything... includmg a 
built-in note pad with always-available “jotting 
paper”. Plus there are conversion tables of 
weights, measures and distances, a list of 
national holidays by country, a wine vintage 
chart, and many other useful facts. All in this 
incredibly flat little book that slips easily into a 
pocket. 

The perfect gift for almost anyone... 
including yourself. 

- Please allow three weeks for delivery 


Please send me 1998 IHT Pocket Diaries. 

Price includes initials, packing and postage in Europe: 

1-4 diaries UK £22 (U.S335) cacti initials 

5-9 diaries UK £2030 (U.S.S32) each " P 3 p« 
10-19 diaries UK £18 IU.S32S) each | | gj 

EH Additional postage outside Europe £4.50 (U.S.S7). 


certified mail: £5.75 (U-S.S9.20) per package plus postage. 
Payment is by credit card only.AB mqjar cards accepted. 
Please charge to my credit card: 

ED Access ED Ame* ED Dinas ED Euroard ED MumGnri EJ Via 

CardN° 

Exp Signature 

Name 

Address 

Gty/Code/Couotiy 

TelTKax _ 

Company EU VAT ID N° 

(PCXl CORPORATC PURCHASES) 4.11.9 


• Blue noiepaper sheets fit on 
itiehackofihedisy — a 
simple poll removes top sheet 
100 refill sheets included 


Mml or fax thus order form to: 
International Herald Tribune Offcre, 

37 Lambton Road. London SW20 OLW U.K. 
Fax: (44 181)944 8243. 

Ermoil: p^ilbaker@bomcrnetconi 





































ASIA/PACIFIC 



CompOnt by Ow Staff Ftu* Diipxcb? 

JAKARTA — Stock markets and 
currencies across Asia rose Monday as a 
financial-aid package for Indonesia 
sparked hopes the region might he 
beaded for a turnaround. 

Tbe Indonesian rupiah led the ctmency 
gains after the central banks of Japan, 
Singapore arid Indonesia jumped in to 
support tbe currency. The dollar fell to 
3,590 rupiah from 3,640 rupiah Friday. 

Finance Minister Hiroshi Mitsuzuka 
of Japan said the operation had been 
aimed at correcting the ^excessive'’ fall 
of die rupiah. He said the three central 
banks would be ready to act again when 
necessary. 

Indonesia on Friday was promised a 
bailout package estimated a t between 
$30 billion and $40 billion from the 
Internationa] Monetary Fund, the World 
Bank, die Asian Development Bank and 
individual countries to help lead the 

country out of financial turmoil. The 
Indonesian government said it would 
implement a series of reforms in return. 

“Indonesia is seen as having more 
political will compared with Thailand,” 
said Suresh Lilaxam, a Jakarta-based 
executive with Deutsche Bank AG. 

Still, analysts were not prepared to 
predict the end of the currency turmoil 
that has scarred the region since July. 

"The confidence level is quite good,” 
said Michae l l.mij treasurer at Standard 
Char tered Bank PLC in Jakarta. “Is the 
worst over? That is a difficult calL" 

Comments by the financier George 
Soros fueled buying of Southeast Asian 
currencies, dealers said. He told the 
BBC that he believed the weald's fi- 
nancial turbulence had ended over and 
called for international regulatory co- 
ordination to head off further storms. 

Most stock markets in the Asia-Pa- 
cific region posted gains. The Hang 
Seng Index in Hong Kong finished 6 
percent higher at 11J255.I1 points. 

(Reuters. Bloomberg. AFP) 

■ Intel Says Thai Sales Affected 

Sean Maloney, general manager of 
Intel Corpus Asia-Pacific division, said 
his company had “definitely felt an 
impact of the currency crisis” in South- 
east Asia, AFX News reported from 
Hanoi. He said sales in Thailand had 
been hit particularly hard. 



Sanyo Securities Seeks Protection From Creditors 


had been triggered by the refusal last week 
of some of its. creditors, including some of . 
Japan’s largest fife insurers, to gnmt.it more 
time to repay 20 billion yen in waas. 

Takashi Ikeuchi, president of Sanyo Se- 
curities, said he and me members of Sanyo's 
hoard had submitted their resignations. 

Sanyo, which is closely tied to the Nomura 

losses for six years, was unable to group, said Nomura would take overpait or 
: of 7?7 5 billion yen ($1.85 billion) its business, thou* it did not say winch part, 
in bad loans run up by its affiliates. 


QvjitilQOfrSsfFianDbpactos 

TOKYO — Sanyo Securities Co. - on 
Monday became Japan's first brokerage to 
seek court protection from creditors, saying 
it had shut down 14 indebted affiliates and 
firing Nomura Securities Co. and others to 
help it survive. 

The medium-sized brokerage, which has 


IbaUigHwMiml 

Takashi Ikeuchi, left, president of Sanyo 
Securities, at a news conference Monday. 


Sanyo said it would stop all operations 
except customer withdrawals ana would 
make “utmost efforts” to restructure under 
the protection of the Tokyo District Court, 
which will appoint an administrator. 

White it is not tire first Japanese brokerage 
to go out of business, Sanyo is tire first to file 
for court protection. In the past, other trou- 
bled brokerages have shut down without 
trying to restrnctnre under mm t or 


Sanyo said the decision to seek protection 


its , 

The Finance Mutisny said it had asked ] 
ofTakyo-Mfrsubisbi Ltd., DaiwaBank Ltd. 
and Nippon Credit Bank lid. to assist Sanyo. 
Finance Minister Hiroshi Mitsuzuka said he 
knew of no other brokerages feeing similar 
problems at this point. He said Sadyo’s cus- 
tomera would be protected by an emergency 

fund set up by the brokerage industry. 

Sanyo, which employs 2,715 people, said 
it had 373.6 bfiKon. yen in debt arid 297.6 

hilHnm yen in assets at the end of September. 

Sanyo h ad a loss of 2.46 billion yen. m tbe 
year ended March 31. (Bloomberg, AP) 



Source: 




Honda Eclipses GM as Favorite 
For Oiina Carmaking Contract 


Bloomberg News 

GUANGZHOU, China — Honda 
Motor Co. moved ahead of General 
Motors Corp. to become the likely win- 
ner of a joint- venture contract to make 
cars in southern China, an executive of 
tire joint venture said Monday. 

That would make Honda the first 

where brands li- 
censed by Toyota Motor Corp.’s 
Daihatsu division have sold well. 

Honda looks more appealing than 
General Motors ’ Adam Opel AG unit as 
a partner to replace PSA Peugeot Cit- 
roen of France in its unprofitable joint 
venture with tire Guangzhou city gov- 
ernment, according to Liang Dongxi- 
an g , a manager at the joint venture. 

Although Opel is stfil ini the race until 
a preliminary agreement is signed. 


probably around the end of this month, 
. tatlrs with the American-owned, Ger- 
man-based company have been suspen- 
ded, Mr. Liang said. Hyundai Miotours 
Co. of Korea is a third candidate. 

“Of the three, Honda offers the best 
conditions,” Mr. Liang said. "They are 
willing to put up the money promptly.” 

China has only 6.6 vehicles for each 
1,000 people in tbe country, compared 
with 520 per 1,000 in Japan and 740 in 
tire United States, so international auto- 
makers see it as a huge potential market. 
Tbe number of motor vehicles in China 
rose 1 3 percent a year between 1985 and 
1995. Yet many foreign carmakers are 
trouble cracking the market 


Hong Kong Defends Its Competition Rules 


Bloomberg News 

HONG KONG — Hong Kong de- 
fended its competition law Monday, 
saying high prices here were not due to a 
lack of competition but to housing and 
labor shortages. 

The secretary for trade and industry, 
D enis e Yue, said that instead of tight- 
ening competition laws, the government 
would lock for monopolies in sectors of 
die economy and legislate as necessary. 

Tbe Consumer Council, a govern- 
ment-funded watchdog, previously re- 
commended a comprehensive compe- 
tition law and fee creation of a 


tition Authority. 

am not opposed to legislation as 
such,” Miss Yue said, “but we would 
limit these to sectors which have a sub- 
stantial public interest at stake which 
may be more none to anti-competitive 
behaviors.” She declined to identify 
any of tire sectors where she believed 
legislation would be warranted. 

Separately, Financial Secretary Don- 
ald Tsang has promised a review of tire 
government's tactics against speculat- 
ors. Defending fee local currency’s peg 

totheU.S. dollar pushed interest rates as 
high as 300 percent briefly last month. 


having trouble cracking me market. 
Chrysler Corp. recently said it was scal- 
ing back, and Toyota licenses brands 
without making fee cars itself. Only 
Volkswagen AG's joint venture in 
Shanghai has been a steady success. 

The Guangzhou Peugeot Joint ven- 
ture lost 600 million yuan ($723 mil- 
lion) in the past two years, leading 
Peugeot to pull out this year. Tbe main 
Chines e partner, Deaway Investment 
Ltd, also wants to sell its stake. 

Chinese officials said fee joint ven- 
ture was not big enough to be profitable 
and needed a further $400 million in 
investment It built just 2,416 cars last 
year, about one-tenth of its break-even 
target and one-twelfth of its capacity. 

Mr. I Jang said the company expected 
to announce a preliminary agreementby 
tbe end of November or fee beginning of 
December. He declined to say how 
much money the joint venture wanted 
from a partner or how much of a stake 
tire foreign partner might own. 


WORLD BALANCED FUND 

SKAV 

2, boulevard Royal, 

Luxembourg 

NOTICE 

Notice is hereby given that an Extraordinary Ceneral 
Meeting or shareholders shall be held 69 route cTEsch. L- 
2953 Luxembourg on 14th November, 1997 at 10:00 a.m. 
for the purpose of considering the following agenda: 

1. To receive the report of the liquidator; 

2. To appoint an auditor to the liquidation in 
accordance with Article 151 of the law on commercial 
companies. 

Shareholders arc advised that at this Meeting no quorum ia 
required and the decision will be passed by a simple 
majority of the shares represented at the Meeting. 

Proxy forms arc available at 69, route d’Escb, L-2953 
Luxembourg. 

In order to be valid proxies duly executed by shareholders 
should be mailed to Banque Internationale a Luxembourg, 
all; Mrs. Dupont, 69, route d’Esch, L-2953 Luxembourg so 
os to be received the business day preceding the Meeting at 
5.00 pan. at the latest. 

By order of the Liquidator 


Very briefly: 


• Hong Kong’s stock exchange named Lee Hon-chiu, chair- 
man of Hysan Development Cc 


new chairman. 


,o^ a property company, as its 


• Minnesota Mining & Manufacturing Co. will invest 491 
millio n Singapore dollars ($310.8 million) in projects in 
Singapore, including a new plant and laboratories and the 
expansion of a technical center. 

• KJa Motors Corp.’s workers returned to wade, ending a 13- 
day strike against the government’s decision to put tire com- 
pany under court receivership. 

• PT Lippo Securities, one of Indonesia’s biggest stock- 
brokerages, will fire most of its foreign analysts, salesmen and 
traders to save money as its market share sups and costs rise, 
two people familiar wife fee situation said. 

• Shell Philippines Exploration BV, a unit of Royal Dutch/ 
Shell Group, acquired a 70 percent stake in an exploration 
project on Palawan island being undertaken by a consortium 
led by Trans-Asia Oil & Mineral Development Corp. 

• Hyundai Motor Co. is prepared to invest $1 bfllioamPoLand, 
the PAP news agency reported, quoting company executives. 

• Hanwa Bank Life’s former president, Takeji Hashimoto, 
was arrested on suspicion of illegally aiding an organized- 
crime syndicate, police officers in Tokyo said. 

• Porsche AG will send a mission to Thailand next week to 

discuss setting up a parts factory, according to Chakramon 
Phasukavanich, deputy secretary-general of the Thai Board of 
Investment. ap. Bloomberg, afx 


NASDAQ 






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LONGINES 

i F LEG , \ \ i;i; T'l.MF’.S DrPCf: 


PAGE. 18 


TUESDAY, NOVEMBER 4, 1997 


World Roundup 


Italy Joins 5 Nations 

RUGBY UNION Italy will be ad- 
mitted to die oldest club in inter- 
national rugby when it turns the 
Five Nations C ham pi onship into 
die Six Nations. Hie International 
Rugby Board said Monday that 

Italy would join the tournament in 

2000. 

The championship started in 1883 
as a competition involving England, 
Scotland, Wales and Ireland. France 
joined in 1910. (AP, Reuters) 

Roy McMillan Dies at 68; 
Gold Glove Shortstop 


baseball Roy McMillan, 68, 
one of baseball’s smoothest-field- 
ing shortstops of the 1950s with the 
Cincinnati Reds and later a New 
York Mets manager, died Sunday 
at Northeast Medical Center in 
Bonham, Texas. He apparently 
suffered a heart attack. 

McMillan signed with the Reds' 
in 1947 and stayed with the team 
through 1960. He spent three sea- 
sons with the Milwaukee Braves 
and three with the Mets. 

He won Gold Gloves at his po- 
sition from 1 957 to 1 959 and was an 
NL All-Star in 1956 and 1957. He 
was a mediocre hitter, with a -243 
lifetime average for 16 seasons. 

McMillan was named manager 
of the Mets when Yogi Berra was 
fired on Aug. 6. 1975. He had a 26- 
27 record as the team tied for third 
place in the NL East. (NYT) 

Cronje Lifts South Africa 

cricket Hansie Cronje hit a 
swashbuckling 94 in Lahore on 
Monday as South Africa made 297 
for five wickets in 48 overs to beat 
the West Indies by five wickets in 
Pakistan's Golden Jubilee tourna- 
ment. The West Indies batted first 
and scored a formidable 293 for 
eight wickets, including 105 by 
Carl Hooper and a blistering 68 by 
Brian Lara. (Reuters) 

Golden Era Ends 

athletics The Golden Four 
series of meetings in Oslo, Zurich, 
Brussels and Berlin, which offers 
gold bars as prizes, has been ended. 
Sources said the organizers feared 
they might be excluded from die 
new Super League that is being 
planned by the IAAF, the govern- 
ing body of world track and 
field. ( Reuters . IHT) 

Wednesday Fires Pleat 

soccer The English premier 
league club Sheffield Wednesday dis- 
missed David Pleat as manager Mon- 
day. The club lost 6-1 at Manchester 
United on Saturday. Pleat, 52, had 
been in charge for nearly two-and-a- 
half years. (Reuters) 

Bob Dole, Plucky Loser 

soccer Bob Dole lost again, 
this time on a soccer field in Mid- 
land, Michigan. 

An under- 14 soccer team which 
picked the name “Bob Dole” to 
show its determination to over- 
come adversity, made it to the finals 
of the Midland Soccer Club Re- 
creational League before losing 
badly, 7-0, to the Huskies. 

“ I guess it was a landslide, I think 
that's what the political term for it 
is.” said Stacey Gannon, the coach. 

Dole, the losing Republican can- 
didate in last year's u.S. presiden- 
tial election, spoke with the players 
by phone from Washington before 
the game. He told them to pick 
heads in the coin toss. 

“He did his part, we won the 
loss,” Gannon said. 

The 14 boys used a familiar slo- 
gan for inspiration. 

From their end of the field, they 
shouted, “I know it, you know it, 
the American people know it — 
lei's go Bob Dolor’ (AP) 



Frunir-Pr-w 

The Pistons' Grant Hill grabbing a rebound against the N.Y. Knicks. 

Grant Hill Gives Knicks 
A Glimpse of the Future 


By Harvey Araton 

New York Tima Service 

NEW YORK — Being 10-men deep 
is nice, but having that one special play- 
er who can beat five men off the dribble 
is > : ’weH,~tetter. 

On Sunday night at Madison Square 
Garden, while Patrick Ewing was rest- 
ing on the bench, the Knicks’ vaunted 
second team had a 9-point lead against 
Detroit and Grant Hill When Hill had 

NBA Roumdup 

finished dismantling the Knicks' de- 
fense as if it was a child's Lego set, 
however, the Knicks were 94-86 losers 
in their home opener to the Pistons and it 
was time to wonder, if only temporarily, 
whether Michael Jordan could play with 
four guys from the Chicago Tribune 
staff ana still drive the Bulls past the 
Knicks. 

"Grant's kind of like Michael,' ’ said 
Patrick Ewing, in a perfect game sum- 
mary. 

Hill is supposed to be the player on 
whose shoulders David Stem, the NBA 
commissioner, will sit as soon os Jordan 
rides off into the sand trap. 

Hill demonstrated Sunday that he. 
like Jordan, is so good that he can also 
cany his team past the Knicks. He was 
Jordan in every big playoff game the 
Knicks have lost, driving the lane like a 
stake in the heart. 

In addition to money, this was the 
reason Brian Williams, a big man look- 
ing for a superstar to latch onto, signed 
with the Pistons after renting himself to 
the Bulls for their championship run last 
spring. 

“I wanted to play with someone with 
a strong presence, with personality on 
the court, with the ability to lift his game 
and his team when it counts,” Williams 
said. “I got a first-hand look last season 
at how that is done. 

‘ ‘Of course, it's a great big soup as far 
as winning a championship, all kinds of 
ingredients that have to be separate but 
complementary. It's not just one player. 


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Montgomerie Now Focuses on U.Sa 

Europe's Top Money- Winner Will Play Up to 10 Events 


By Ian Thomsen 

/urmuriM Herald Tribune 

L ike many rich Britons, Colin 
Montgomerie intends to spend the 
cold months in Honda and return 
to Europe for the summer. This is not his 
idea of semi-retirement: At 34, he is 
planning to work harder than ever to win 
the major title that has eluded him. 

After winning the European money 
title for a record fifth year in a row, 
Montgomerie declared his intention 
Monday to play more golf in America 
next year. He is not abandoning the 
European Tour altogether, as Nick 
Faldo and others have done. In Mont- 
gomerie's case that would be counter- 
productive; indeed, it would go against 
the prevailing internationalist trend of 
professional golf. He intends to prepare 
especially for the four major champi- 
onships, and three of them are held 
annually in the United States. 

“I have clear priorities, both pro- 
fessionally and personally, and my fu- 
ture schedule will be carefully worked 
around those European. U.S. and other 
worldwide events which will best help 
me in achieving my goals," Montgo- 
merie's statement read. "I look forward 
to playing an extended schedule in tbe 
U.S., which I know will assist me in my 
professional aspirations. 

"I shall now play a considerably re- 
duced schedule in Europe whilst keep- 
ing it as my ‘home tour.’ ” 

The statement had a legalese ring to 
it, as if cloaking Montgomerie’s feel- 
ings about his move overseas. People 
who know him have maintained that he 


.was never going to uproot his wife and 
two yoang daughters to America year- 
round. At last summer's U.S. Open, 
which, by the way, provides him his best 
expectations, with two second-placing 
and a third-place finish in the last six 
years, an apparently drunk fan taunt- 
ingly compared him to Mrs. Doubtfire. 
He lost the tournament on the 71st hole, 
missing a medium-length putt after 
waiting in vain for several minutes for 
the galleries to go silent 

No player on either tour — not Jack 
Nicklabs, Tom Watson, Arnold Palmer, 
Sam Snead, Ben Hogan; not Seve 
Ballesteros or Faldo — has ever led his 
tour five years in a row. Montgomerie 
did so with close to $1.3 million in 
winnings this year following his eighth- 
place finish last weekend at the Volvo 
Masters in Spain. He has also become 
the first man to accumulate more titan £6 
million in European winnings- All of this 
is proof, too, that he needs a change. 

Montgomerie c laims that he has im- 
proved each year to maintain his dom- 
ination of Europe. In Europe's Ryder 
Cup victory in September, he was mag- 
nificent. Nonetheless, the parochial 
nature of his success — he has yet to win 
a PGA tournament of any kind on Amer- 
ican so3 — is threatening to cast him as 
the European version of Tom Kite, 
whose reputation for consistency as the 
leading American money-winner of all 
time was undermined by his failure to 
win a major tournament At last. Kite 
won the U.S. Open at age 42. Mont- 
gomerie won't want to wait that long. 
The increased competition greeting him 
on the U.S. Tour might toughen him. 


“I have an incredible desire and am: 
bition to succeed and that has kept me 
going throughout my 10 years as a pro,. 
Montgomerie said Sunday after the final 
round had been washed out in Jerez, 
Spain. “That has hot wilted at all ana 
that, for all that is written about my 
hitting fairways and greens, is my 
greatest asset" 

Montgomerie did not spell out lus 
plans for next year, but most likely he 
will spend tbe first half of his seasotfin 
America, 1 peaking for the Masters in 
April and the U.S. Open in June. He f 
could then return to Europe through tiu- 
tuxnu, apart from a return trip to America 
in August for the PGA Championship. 

This year, Montgomerie played 22 
events in Europe and nine in the United 
States. Though he will not seek mem- 
bership in the U.S. Tour, he will be able 
to play as many as seven regular events; 
plus the three majors and the Players 
Championship and World Series of Golf 
— 12 American tournaments in all. ; .. * 

Both sides of the ocean would be 
happy to see Montgomerie win a major 
title. The European Tour is criticized for 
the comparatively shallow depth of its 


talent pool, the dearth of public interest 
in golf on the Continent and the often 


in gou on me continent ana tne awn x 
disappointing state of its courses. But 
through the Ryder Cup and the begin? 
rungs of a shared global circuit, it is 
forming a partnership with the Amer- 
ican PGA Tour. As professional golf 
becomes unified internationally, it be : 
comes more important for the game that 
the best players fulfill themselves ps 
major champions, wherever theil 
home. 


Duval Grabs 3d Straight PGA Victory 


But there’d better be that one special 
player." 

In the fourth quarter, there was only 
Hill, the rest of the Pistons and a mass of 
frustrated Knick faces, Ewing included. 
The 10-headed Knicks had plenty of 
balance in their scoring but they had no 
one to-go to when Hill was taking over 
the game. They had no one to guard Hill, 
either. Hill scored or had a hand in 21 
points as the Pistons went on a 28-12 
run. He finished with 34 points, 9 re- 
bounds, 5 assists, 3 steals. 

“For die most part, I want the ball in 
my hands, especially when things are 
going well,” said Hill, who scored 1 5 of 
his points in the fourth quarter. 

Hill’s team is still developing, still a 
ways away. He has no Scottie Pippen to 
lean on when he turns up flu-ridden in 
the playoffs. But Sunday night was all 
Williams needed to know he had made a 
good choice. 

Sooner or later, the Pistons will get 
Hill a sidekick, a little brother. 

“Michael's got that aura because of 
all he's done,” Williams said. “Grant’s 
different in that be breaks you down, but 
he's thinking pass first, shot second. But 
he's going to win his share. He'll get his 
rings.” 

In other games. The Associated Press 
reported: 

Magic 107, Caltics 96 In Boston, 
Penny Hardaway scored 32 points, in- 
cluding six 3-pointers, and Orlando 
gave Chuck Daly his first victory after a 
three-year break from coaching. 

Derek Harper added 19 points and 
Nick Anderson 13 for the Magic. The 
Celtics were led by the rookie Ron Mer- 
cer with 23 points and Antoine Walker 
with 19. Boston hit only 38 percent of its 
shots. 

Rocluts 93, Kings 77 In Sacramento, 
Hakeem Olajuwon scored 18 points and 
Houston held Sacramento to just seven 
points in the fourth quarter. 

Trailing by 74-71 early in the fourth 
quarter, the Rockets used 3 -pointers by 
Eddie Johnson and Brent Price to take 
the lead for good with an 8-0 run. Hous- 
ton scored the game's final 12 points. 


By Clifton Brown 

New Kirit Times Service 

HOUSTON — David 
Duval continued his sensa- 
tional end-of-season run by 
winning his third straight 
U.S. PGA golf tournament. 

Duval won Sunday in true 
championship fashion at the 
Tour Championship. He beat 
a field of the tour’s top 30 
money-winners, prevailing 
by one stroke over Jim Furyk 
and by two strokes over Dav- 
is Love 3d. 1 

Duval became the- -first 
player since Nick Price in 
1993 to win three consec- 
utive starts. He became the 
first player in tour history to 
collect his first three victories 
in consecutive starts. 

He won the biggest first- 
place check of the year 
f$720,000), and finished 
second on the tour’s money 
list ($1,885,308). Only Tiger 
Woods, with four, finished 
with more victories this sea- 
son than Duval. 

Perhaps more important, 
Duval sent a message that, at 
25, he is ready to join Woods, 
Justin Leonard, Ernie Els and 
other great young players as a 
threat to win anytime, any- 
where, for years to come. 
There is a difference between 
being a good player and be- 
ing a champion. Duval has 
learned the difference. 

“Three victories in the 
year, no matter how they're 
spaced out. is a great year,” 
said Duval, who finished the 


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tournament at 11 -under-par 
273. “I don’t think you ever 
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ning three starts in a row. But 
I’ve had enough patience and 
resolve to make the putts 
when I needed to." 

Several other important is- 
sues were decided in a final 
round. 

Woods, who tied for 12th 
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tbe tour’s top money-winner 
($2,066,833) and became the 
first tour player to pass the $2 
million mark, although Hale 
Irwin won $2,156,364 on the 
SeoiorTour. 

Nick Price won the 1997 
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adjusted stroke average at 
68.98. 

Woods Will almost surely 
be voted the PGA Tour play- 
er of the year by his peers. 
But if Love had won Sunday, 
he wou Id have passed Woods 
on the money list and could 
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player of the year. 

“It was nice to at least 
make Tiger a little nervous 
there with nine holes to go," 
said Love, who led after 11 
holes but made costly bogeys 
at No. 14 and No. 18. “If I 
had a chance at player of the 
year, it's disappointing. But 
Tiger played so well all year, 
he deserved iL" 

Love finished third on the 
money list with $1,635,000. 

Duval, who shot three un- 
der par Sunday, held steady 
under pressure and deserved 
his victoty . He started the day 


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Tiger Woods on the green at Houston; he finished 12th*. 


in a four-way tie with Love, 
Bill Glasson, who tied for 
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tied far sixth. 

Bnt Duval won by making 
two difficult pars on the final 
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■ Father Earns Card 

It was a good day for the 
Duval family. While David 
was winning the Tour Cham- 
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earned bis Senior Tour card 
for 1998, The Associated 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 


PACE 19 



SPORTS 


% 


and Giants 
Turn It Around 

NFL Doormats Now Top Divisions 


-2. 


The Associated Press 
The National Football 
League is turning upside 
down- The New York Jets 
anfJ New York Giants, a com- 
bined 15-49 the last two 
years, are both 6-3 in 1997 
anil atop their divisions. 

' On Sunday, the Giants 
were enjoying their bye week 

’ NFL Roundup 


and leaving the Jets, a league 
worst 1-15 last season, to take 
the spotlight against the Bai- 
■ timore Ravens. 

‘ Bill ParceQs, the Jets «wr^ 



-l; 

^r*- f 

'ey.? 



Fctley led the Jets to a 19^16 
overtime victory. The rookie 
John Hall's 37-yard field goal 
clinched the victory. 

-Combined with New Eng- 
land's loss to Minnesota and 
Miami's loss in Buffalo, the 
yietpry pot the Jets in first 
place in their division. New 
England, Miami and Bnffalo 
are tied for second. 

1 After Vinny Testaverde 
tied the game on a pass to 
tterrick Alexander with three 
seconds left in regulation, Fo- 
ley drove the Jets 60 yards to 
$et up Hall's game-winner. 

' '4Bws 17, Cowboys 10 Gar- 
rison Hearn ran for 1 04 yards 
and a touchdown for the 
49grs, who won their eighth 
straight, but their first outside 
the NFC WesL 


In the third quarter, the 
Cowboys failed to score on a 
third- an d-goal from ihe 1. 

In the test minute a pass 
from Troy Aikman bounced 
off the fingertips of Michael 
Irvin, the Dallas wide receiv- 
er, at the San Francisco one- 
yard- line. An official threw a 
flag for pass interference by 
Rod Woodson, a 49er comer- 
back, bat he changed his 
mind after conferring with 
other officials and ruled that 
Woodson and Irvin had 
tripped accidentally. 

__ Bn c can— ti 31, Colts 28 

Karl Williams scored two 
touchdowns, set up another 
with a 63- yard mint return 
and put Tampa Bay in po- 
sition for Michael Husted’s 
winning field goal with eight 
seconds left at Indianapotis. 

Paefcsra 20, Lions 10 Green 
Bay intercepted four of Scott 
Mitchell's passes to pizli the 
Packers into a tie with Min- 
nesota for first place in the 
NFC Central. 

Darren Shaiper’s 30-yard 
interception return for a 
touchdown gave the Packers 
the lead in the second quarter 
and they held on to win de- 
spite Barry Sanders' 103 
yards on 23 carries, his ca- 
reer-high seventh successive 
100-yard game. 

Vikings 23, Patriots 18 
Minnesota's fifth successive 
victory kept the Vikings even 
with Green Bay, while New 
England stumbled to its 



Cinderella Bruins 
Are Tied for First 


lit) MJ-k-hWHcuur. 

J J. Stokes of the 49ers making a fingertip catch on the Cowboys’ one-yard line to set up the winning score. 


fourth loss in five games after 
a 4-0 start 

Moe Williams’s 74-yard 
return of the opening kickoff 
set up a field goal, and Min- 
nesota never trailed. John 
Randle led a Vikings* de- 
fense that allowed the Pat- 
riots only three points in three 
quarters and harassed their 
quarterback. Drew Bledsoe. 

Broncos 30, Seahawtu 27 

John Elway, 37, held off 
Warren Moon, 40, in a battle 
of two of the league's ven- 
erable quarterbacks. 

Elway, who threw two 
touch- down passes to 
Moon's three, completed a 
49-yard pass to Shannon 
Sharpe to set up Jason Elam's 
22-yard field goal with 7:28 
left that won it for the Bron- 
cos. That came after Moon's 
8-yard pass to Brian Blades 
tied it at 27 for Seattle. 


Ban gate 38, Chaw-gars 31 

Cinc inna ti snapped a seven- 
game losing streak, convert- 
ing three second-quarter 
turnovers into touchdowns, 
including John Copeland's 
25-yard fumble return. 

San Diego stayed in the 
game thanks to Eric Metcalf, 
who returned two punts for 
touchdowns. . 

San Diego lost Stan 
Humphries, its quarterback, 
in the third quarter with his 
second concussion in three 
games. 

Cardinals 31, Eaglac 21 

Kent Graham, the starting 
quarterback until he got hurt 
OcL 12, replaced the rookie 
Jake Plummer and had two 
late touchdown runs as the 
Cardinals broke a six-game 
losing streak. 

Ty Detmer relieved Rod- 
ney Peete in the third quarter 


and threw two i 
to erase a 17-7 deficit for the 
Eagles, who are 4-0 at home, 
but 0-3 on the road. 

Jaguars 30, OBars 2<S Jack- 
sonville almost blew a 27-10 
lead, but Tony Brackens 
stopped Frank Wycheck on 
fourth and 2 with 2:58 left to 
save the victory. 

The Oilers closed within 
six points, and Steve McNair 
moved Tennessee 84 yards to 
first and goal on the seven. 
But Brackens's tackle of 
Wycheck on a pass from 
McNair ended Tennessee's 
three-game winning streak. 

Falcons 34, Rams 31 
Morten Andersen's 27-yard 
field goal with two seconds 
left gave Atlanta victory. 

Isaac Bruce had 233 re- 
ceiving yards for the visiting 
Rams, who tied the score at 
31 on Tony Banks’ 1-yard 


scramble with 1:10 left. But 
Harold Green caught a 19- 
yard pass, then ran 22 yards 
to help set up Andersen's 
winning kick. 

In games reported in late 
editions Monday. 

Bills 9, Dolphins 6 Steve 
Christie kicked three field 
goal for Buffalo, which had 
one turnover in terrible con- 
ditions at home despite six 
fumbles and a muffed punt. 

Panthers 38, RaMers 14 
Fred Lane, a fiat-agent rook- 
ie, replaced the injured Tshi- 
manga Biakabutuka and ran 
for three of Carolina's five 
rushing touchdowns as the 
Panthers ran for a franchise- 
record 216 yards. 

Radskhm 31, B«ars 8 
Washington scored on its 
first three possessions, going 
76, 53 and SO yards to rout 
Chicago. 


The Asscvutcd Press 

The Boston Bruins are 
turning into the surprise of 
the National Hockey League. 
They finished with the worst 
record in the NHL last season 
but are among the league 
leaders well into the second 
month of this season. 

The 3-1 victory Sunday 
night at Ottawa pul the Bruins 
in a first-place tie with the 
Senators in the Northeast Di- 

NHL Roundup ” 

vision. Technically, the Bru- 
ins (9-5-11 are first because 
they have one more victory 
than the Senators (8-4-31. 

“It's a young team and 
they want to win,'* said Pat 
Burns, the new Boston coach. 
“I’m not the one on the ice — 
give them the credit.*’ 

The Bruins have been es- 
pecially impressive away 
from home, with a 7-2-0 re- 
cord, most road victories of 
any NHL team. 

'Rob DiMaio’s tie-break- 
ing goal with 2:41 gave the 
Bruins their latest victory. 
The goal was controversial, 
but the referee ruled that a 
Bruins player who was in the 
crease was pushed in. 

Ron Tugnutt had his first 
loss of the season. He had 
entered the game with a 
league-best 1.46 goals- 
a gainst average. 

Stars a, Flyars 3 Jamie 
Langenbrunner scored on a 
second-period play that in- 
jured Philadelphia goalie 
Ron Hexiall and gave visiting 
Dallas a tie. 


Langenbrunner took the re- 
bound of Bob Errey 's shot oft 
the rear boards, spun around 
and put the puck into an open 
net with 1:17 left in the peri- 
od. Hexiall strained his neck 
and back when a teammate. 
Paul Coffey, kneed him in the 
head after’ leaping to block 
Errey ’s shot. 

Ited Wings 4, Mighty Ducks 

3 Darren McCarty. Nicklas 
Lidsirom and Brendan Sha- 
nahan scored power-play 
goals to lead Detroit over vis- 
iting Anaheim. 

Vyacheslav Kozlov also 
scored for Detroit, which has 
won five of its last six earner. 

BUckluiwk* 3, Pmgura 1 

In Chicago, Chris Terren, 
making his 13th consecutive 
stan in place of the injured Jeff 
Hacken, slopped 24 shots as 
the Blackhawks beat the Pen- 
guins for their first three-game 
winning streak since Febru- 
ary. Teneri has allowed only 
four goals during the streak. 

Sergei Knvokrasov. Tons 
Amome and Jell Shancz 
scored for Chicago, which is 
5-3 since opening the season 
with seven losses. 

Coyote* 3, Ftaumi 1 Craig 
Janney set up three goals as 
Phoenix beat visiting Calgary 
in a game marred by an injury 
to right wing Mike Gartner. 

Gartner, two goals shy of 
becoming the fifth player in 
NHL history to score "00, 
was blindsided by Calgary's 
Theoren Floury and limped 
off the ice with six seconds 
remaining in the first period 
The Coyotes said Gartner had 
sprained his (eft knee. 


Scoreboard 


BASKETBALL 


NBA Standi nos 
iuiuw coi umm 

ATLANTIC OM8IOII 



W 

L 

Pet 


2 

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1.900 

' ji Now Jersey 

2 

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• Philadelphia 

0 

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~ Washington 

a 

2 

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CENTRAL QtVISION 

- Atlanta 

2 

0 

JJOO 

Detroit 

2 

0 

1J00 

■ CMcago 

1 

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1 

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MitwcHikee 

1 

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0 

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•; Cleveland 

0 

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W L Pet 6B 


Houston 27 25 17 24-93 

Sacramento 24 21 25 7—77 

H: Olujuwon 6-12 6-7 1ft WHUs 7-12 2-2 1* 
S: Richmond 7-14 6-621, Owens 6-10 D-l 12. 
Rataouads— Houston 50 (Boridey 14), Sac- 
ramento 48 (Smith 12). Assists— Houston 15 
(Prfc*4),5<nDllKnlol4 (Smith 41. 


FOOTBALL 


NFL Stamphiqs 

AlUIKiUI COHHHHa 

EAST 


Deltas 

2 

.0 

1 J100 

— . 

•• Houston 

2 

0 

1.000 

— 

Miahesata 

2 

0 

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2 

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1 

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1 

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1 

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0 2 

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2 

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1 

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1 

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1.000 

— 

Portland 

1 

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- Seattle 

1 

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500 

V4 

Golden State 

0 

2 

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Hi 

LA. Uppers 

a 

2 

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0 

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1!6 


N.Y. Jets 

Buffalo 

Miami 

New England 
jndtanapoBs 

Pittsburgh 

Jadoonvtlto 

BalHmara 

Tennessee 

Ctnckmafl 

Denver 
Kansas CRy 
Seattle 
San Diego 
Oakland 


eatiwa- 


4 2 
6 3 0 
4 5 0 

4 5 0 

2 7 0 
WENT 

8 1 0 
6 2 0 

5 4 0 
4 5 0 

3 6 0 


Pet PF PA 
467 220 172 
556 160 194 
556 182 169 
-B6 223 155 
JJOO 141 230 

-750 1M 187 
467 238 192 
M* 210 19* 
JUS 207 191 
-222 163 250 

-889 268 160 
.750 181 133 
556 196 -2B7 
-444 171 214 
-333 227 256 


suNsjar 1 * UMftm 

New York Jets 19, Baltimore 14 OT 
Buffalo 9. Miami 6 
Minnesota 21 New England 18 
Carnflna 38, Oakland 14 
Atlanta 34. St Louis 31 
Cincinnati 34 Son Diego 31 
Tampa Bor 31. ImfionapoKs 28 
Washington 31. Chicago B 
Son Francisco 17, Dallas 10 
Judcsonvflle 3a Tennessee 24 
Arizona 31. Ph0adetphlo71 
Denver 3d Seattle 27 
Green Bay 2d Detrait ID 
Open drift: New DrieoiA N.Y.Gimto 

The AP Top 25 

Tap 25 towns In Axe oefetad Pipe* college 
football pol. wim Himl-ptaca vote* in paron- 
thsvas, records through New. 1, Intel potato 
and previous ranking: 


CFL Playoffs 


BAST DIVISION 

Montreal 45, British Cotumbto 35 
WEST DIVISION 
Saskatchewan 33. Calgary 30 

DIVISIONS FINALS 
Sunday, Nov. 9 
Montreal at Toronto 
Saskatchewan at Edmonton 


At Edmonton an Nov. 16 
East whiner vs West winner 


CE HOCKEY 


NHL Stahpiwqs 

■ASTON COMIBia 

ATLANTIC OIVniON 

W ITW6F6* 


NAnoHAL coomna 


SUNDAY'S nevus 

Detroit IS 19 24 36- « 

New York 22 IS 26 23- 86 

■0?W» 9-16 15-18 34 Hunter 7-12 8-11 Z* 
N.YjJohmon 7-182-2 1& EMng 4-11 8-12 1& 
.. Oakley 6-10 2-2 14. RehMMfe— 0. 37 [HBI 9), 
8.Y. 58 (Ewing 13). Assists— Detroit 14 (KB 
5). N.Y. 18 (Wtanl B- 

(Mario 29 21 27 30-107 

Boston IS 21 22 38- 96 

- O: Hardaway 1 1-20 4-5 32, Harper 812 2-2 
1ft B; Mercer 9-14 4.5 23, Walker 7-2 3-4 19. 
(MMMris— 0.40 (Grant 9). B. 48 (DeOeccq 
12)- Asststs-O. 30 (Harper 7 Armstrong 7U 
B. 23 (McCarty 6). 


N.Y. Grants 
Washington 

Dados 

PtiBodetphta 

Arizona 

Green Bay 
Minnesota 
Tampa Bay 
Detroit 
Chicago 

San Frandsco 
Carolina 
Atlanta 
New Orleans 
St Louis 


EAST 

»LT 

Pet 

u. 

a. 

PA 

6 

3 

9 

M7 

186 

180 

5 

4 

a 

-556 

173 

145 

4 

5 

0 

444 

188 

148 

4 

5 

0 

AU 

158 

190 

2 

7 

0 

-222 

164 

206 

CENTRAL 
7 2 0 

.778 

216 

169 

7 

2 

0 

.778 

209 

179 

6 

3 

0 

667 

177 

162 

4 

5 

0 

644 

190 

175 

1 

8 

0 

.111 

145 

263 

WEST 
8 1 

0 

J89 

227 

108 

5 

4 

0 

-556 

166 

153 

2 

7 

0 

xa. 

179 

240 

2 

7 

0 

-222 

1TB 

198 

2 

7 

D 

-222 

164 

221 



Maid 

Pis' 

Pv 

LNeOraikaCto}: 

■ M - 

L739-- 

1 

1 Penn St 06) 

7-0 

1443 

2 

3. Florida SL (5) 

8-0 

1,627 

3 

4. Michigan (1) 

84) 

14561 

4 

5. North Carofina (2) 

8-0 

1^81 

5 

6. Washington 

7-1 

1J62 

7 

7. Ohio St 

8-1 

1J24 

9 

8. Tennessee 

6-1 

1*312 

8 

9.Geon]bi 

7-1 

1,138 

14 

10. UCLA 

7-2 

1JM9 

12 

11. Kansas St 

7-1 

14713 

13 

12. Iowa 

6-2 

904 

15 

11 Florida 

6-2 

902 

6 

14.LSU 

6-2 

837 

16 

35. Arizona 51 


811 

90 

16. Washington 5L 

7-1 

775 

10 

17. Auburn 

7-2 

515 

11 

18. Toledo . 

84) 

449 

22 

19. Mississippi St 

6-2 

347 

— 

2a Virginia Tech 

6-2 

304 

23 

21. Texas A&M 

6-2 

299 

25 

21 Syracuse 

6-3 

286 

— 

23. Purdue 

6-2 

255 

18 

24. Southern Mss. 

6-2 

253 

24 

25. Oklahoma St 

6-2 

125 

19 


PhOadeiphia 
New Jersey 
Washington ' 
N.Y. I starters 
N.Y. Rangers 
Florida 

Tampa Bay 


S 

4 

7 5 2 
6 5 2 
3 6 5 
3 7 3 

2 9 2 


17 43-39 
16 41 23 

16 44 36 
14 40 33 
11 34 39 
9. 28 42 
6 23 43 


NORTHEAST DIVISION 



W 

L 

T 

Ph 

GF 

GA 

Boston 

9 

5 

1 

19 

41 

35 

Ottawa 

8 

4 

3 

19 

47 

36 

Ptltsbuigh 

8 

6 

2 

18 

47 

44 

Montreal 

7 

4 

2 

16 

38 

26 

Buffalo 

5 

7 

2 

12 

35 

45 

CoroEna 

3 

8 

3 

9 

33 

44 


WIXTWI COHHMNCl 

CENTRAL DMUQM 


Others receiving vales: West Virginia 99, 
Missouri 9a Colorado St 49. Wisconsin XL 
Ohio U. 35, Michigan St. 32. Virginia 2ft 
Louisiana Tech 1 1. Georgia Tech 1 ft Brigham 
Young 7, Maishatt* New Merieol Air Faroe 
2, Mississippi 2, Southern Call. 



W 

L 

T 

Pis 

GF 

GA 

Detroit 

11 

2 

2 

24 

56 

33 

St. Lotte 

11 

2 

2 

24 

50 

29 

Dates 

9 

4 

2 

20 

46 

34 

Phoenix 

6 

5 

2 

14 

41 

36 

Chicago 

5 

10 

0 

10 

27 

41 

Toronto 

3 7 2 8 

PACtnC DMStON 

25 

39 


W 

L 

T 

Pis 

GF 

GA 

Colorado 

7 

2 

6 

20 

49 

38 

Anaheim 

5 

5 

4 

14 

32 

35 

Las Angeles 

5 

6 

4 

14 

48 

44 

Edmonton 

5 

7 

1 

11 

27 

41 

Calgary 

3 

9 

3 

9 

39 

50 

San Jon 

4 

10 

0 

8 

34 

46 

Vancouver 

3 

9 

2 

8 

33 

50 


SUNDAY'S HPIUI 
Dates 0 3 0 0—3 

Phtedelphia 0 3 0 0—3 

1st Period: None. 2d Perttxfc D- 
Nietrwendyk 6 (Verbeek, Hogue) 2, D-Zubov 
2 (Modono, Sydor) (pp).lP-, BrlntfAmoarS, 
!sh).4 P-Qpffev 1 [Niimmoa Lindros) (ppl.5, 
P-UCtairl2 (Lind roe) i» D-Langenbnimier6 
(Emyl 3d Period: None. Overtone: None. 
Shots an goal: D- 8-12-8-1—29. P- 6-9-9- 
2—36. Codies: D-Beffrtr. P-Hcxtoi Snow. 

. Anaheim I 2 0-3 

Detroit 1 3 0-4 

1st Period: A-Setanne 11 (Cutten 
Marshall) 2, D-McCnrty 4 (Droperi (pp). 2d 
Period: D-Lidstrom 6 Pfizerem. Larionov) 
(pp)- J. D-Kazkw 7 (Larionov) 5, A-Rucchln 1, 
A D-ShanahanS (McCarty, Lidslrem) (pp). 7, 
A -Mironov 4 (Setanne, Janssens) 3d Period: 
None. Shots an goal: A- 65-7—18. D- 12-11- 

9— 32. Garries: A-Shfaleakov. D-Oegood- 

Boctoa 0 l 2—3 

Ottawa 0 0 1-1 

1st Period: None. 2d Period: B-Ttm under I, 
3d Period: O-Lsmberl 4 (Gmttner, DaigleJ 3. 
B-DiMalo 3 (Axetssonl 4. B-Oonato 6 
(Dafoe) (on). Shots on goat B- 9-5-6—20. 0- 

10- B-9— Z7, Gerries: B- Dafoe. Q-Tugnutt 

Plltstrurgb 1 0 0-1 

Oicogo 2 0 1—3 

1st Period: C-Amorta 6 (Kflvoknrscw, Su- 
ler) 2, P- Johansson 2 (KospardHs] 3» C-, Kri- 
vokrasav 5, 2d Period: None, 3d Period: C- 
Shantt i (Sutter. Black) Shot* on goahP- 10- 
69-2S. C- 13-8-8—29. Garries: P-Wregget. 
C-TermL 

Cdgory 0 1 0-1 

Pboeata 1 2 0-3 

1st Period: P-Tkodwk 5 Utmney, DidirdO 
2d Period: C-Hoghmd 3 (Bouchard) 3, P- 
Tocdwt-5 (Tkochuk, Janney] (pp). 4 P- 
Drake 4 uamwy, Thadwk) 3d Period: None. 
Shots oa gaafcC- 7-7-10-24 P- 15-10-6-31. 
Gerries: c-TabanxcL P- KhabibaDn. 


CRICKET 


NEW ZAAA 4 IND TCNIIR 
WW SOUTH WALES VS. NEW ZEALAND 

POUM DAY MATCH. 4 TH DAY 
MONDAY M NEWCASTLE, AUSTRALIA 
New South Wales: 449 for star dedaied 
New Zealand: 214 and 16a 
N4. W. wan by an Inidngo and 95 runs. 


Jubilee Tournament 

WEST INMttS VS. SOUTH AFRICA 

MONDAY IN LAHORE. PAKISTAN 
Wes! Indies 293-0 (50 overs) 

South Africa 297-5 (4&1 1 
South Africa wan by five widiets. 


Tour Champiohship 

Flirt scores end money from lire 54 
mSSon Hour ChempkHnhip played » the 
per- 71, 3635 . 7J3Oyar0s Champion God 

Chib at Houston. U^.; 

David DuvaL U-S- 6669-7068-273 

Jim Rrryk, 115. 66687367— 274 

Doris Lave III, U5, 686869-70-275 

M. Cakavecdda. U5. 6966-72-70-277 

Bill GTosion. U.5. 68696872—377 

JeGper Parnevlk, 5«*e. 66736870-278 

Brad Fnxoa U5. 676969-73-278 

Justin Leonard U5. 7069-7268-279 

Loren Roberts, U5. 726869-70-279 

Vttay Singh. Fip 7870-70-70-280 

Scott Hodv U5. 6865-74-73-280 

WOUBBANKMOS 
1. Greg Normoa Aushate 1 1.7B points 
Z Tiger Woods. U5.1058 
X Ernie Eh. Sooth Africa 953 

4. Nick Price. Zimbabwe 930 

5. MasasM Ozaki Japan BJS6 

6 Coiin Montgomerie. Britain 866 
7. Doris Law IIL U5. 845 
B. Mark O'Meara, U-S-MO 
9. Phfl Midiebon. US.&JB8 
Id Tam Lehnun US. 7JO 
11. Justin Leonard. U5. 7M 
1Z Scott HodwU5.6J7 

13. David DfoM U-S.6J5 

14. Brad Faxon. U 5. 657 

15. NkkFatda Britain 645 


SPANISH HAST MVUtOM 

Zaragoza 0 Real Sadedad 0 

mm nm division 
Montpellier 2 Rennes 0 
Toulouse 2 QtanriM Bofdeain2 


stamdihos: PSG 30 points.' Bordeam 
28: Metz. Morse BJe 27: Monaco 23. Autorre. 
Lens 22: Montpellier. Tou loose 20t BasNa 
Lyon 1ft Nantes 16 Gutagamp 15; Stros- 
boutglA' Rennes IX- Le Havra Cnateaureuv 
12 Cannes 8. 

World Cup 

CONCACAF zom 

ModCDftUJS.O 

stanotnox: x-Morica 16 points.- Ja- 
maica 12 United States 11; El Salvador 9: 
Casta Rfara 8: Canada 6. 
x-qmfifled far World Cup finals. 


TENNIS 


COLOMBIAN OPEN 

SUNDAY IN BOGOTA. COLOMBIA 
FINAL 

Framfeca Ctamet, 111, Spain, del. Nicholas 
LapenttL Ecuador, 61 63. 

NIP NANKINOS 

1. Pete Sampras. UA, 4J47 points 

2. Michoei Chang. U8. 1189 

1 Patrick Ratter, Australia, 1031 

4. Janas Biorianaa Sweden. 1642 

5. Greg Rusedski Britain. 1606 

6. Goran Ivanfeeric, Croatia, 1568 

7. RJchord Krallcek. Netheriands, 1395 

8. Thotnos Muster, Austria 2J94 

9. Cartas Moya Spain, 1391 
11 Sergl Bruguera Spala 1367 

1 1. Yevgeny KatefaVkav. Russia 2J5S6 
11 Mcncoto Rtos. CM* 1302 

11 Ala Correfla Spain ZZK 
14. Gustave Kueitea BrazL 2J61 
1A Petr Korda Czech Republic 1145 

WTA KAMKIMOS 

1 . Mcrhna Hingis, Swt&eriana 6482 paints 

2 Jana Navataa Czech Reputric, 1639 
1 Amanda Coetzer, South Africa 1316 
4 Monica SdeiU.S. 1294 

5. Undsay Davenport, US. 1248 

6. tve Mojoli, Croatia, 2954 

7. Mary Pierce. Franca 1400 

8. Irina SpHca Romania 1395 

9. Arantxa Sanchez Vicaria Spain 1226 

10. Conch Ita Martinez, Spain, 2078 

11. Maiy Joe Fernandez. U J. 1.943 

12 Anke Huber. Geimany; 1.809 
11 Sandrtne TeshML Franca 1,787 

14. Steffl Graf, Germany. 1663 

15. Brenda Schu Hz -McCarthy. Neth, 1648 


TRANSITIONS 


AMERICAN LEAGUE 

eALTiMORE— Acquired RHP Everett Stull 
tram Atontrcal to complete July 31 lradL- mat 
sent RHP Mike Johnson to Montreal 

CHICAGO — Announced Ottilia tian aqiee- 
menl wtth Calgary, PCL Evertiscd 1998 op 
tlon an 3B Rubin Ventura Declined la ci 
erelse 1998 options on 55 Ctezir GuHfon and C 
Ron Kartorice. 

DETROIT— Agreed to terms witn INF 
Damien Easley on3-ycar contract. 

KANSAS crrr-Excrebcd their iw apian 
an RHP Jett Montgomery 

new YoeK-Dcdined to cvcitbe 1998 op 
lions on 3B Wade Boggs and RHP Dwight 
Gooden. 

TEKAS— Acquired INF Rob Sasser from 
Anaheim to complete June 29 trade that sent 
RHP Ken Hilt to Anaheim tor C Jvn LeynC 
Assigned Sasser la Tutors tl. Traded INF 
Mike BeO to Anaheim for LHP Matt Penmo. 

NATIONAL LEAGUE 

FLORIDA— Decttned to eurciso1998aDtian& 
an IB Jeff Canine and IB Darren Daultan 

new yobk— N amed Daw iVnOace assis- 
tant to general manager. 

FiTTsaunGH— Signed working agreement 
with NashriSw AA. 

SAN FRANasz»— Named Ron VVatus 3d 
base coach and Sonny Jackson bench coach 


NATIONAL BASKETBALL ASSOCIATION 

NEW JERSEY— Signed G Sherman Douglas. 

HOCKEY 

NATIONAL HOCKEY LEAGUE 

Carolina— A ssigned 0 Slew Hatto ta 
New Haven AHL- 

coldrado— R ecaBed F Joset Mcatn tram 
Hershey, AHL- 

new JERSEY-RccaBed □ Ken Sutton from 
Albany. AH L 

N.Y. ISLANDERS— Assigned RkV Women 
Luhnlng to Keruucky. AHL. 

n.y. ranoers— R ecalled C Mark Savanl. 
LW Pierre Serigny and RW Vladimir Voro- 
Wev from Hartford. AHL 

SAM JOSE — Recalled C Aleunder Kcrotyuk 
liom Kentucky, AHL 

TORONTO— Assigned C Kcvyn Adams to Sr. 
Johns. AHL 

Vancouver— R ecalled D Chns McAllister 
(rom Syracuse. AHL 


1>ENNIS THE MENACE PEANUTS 


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PAGE 20 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, NOVEMBER 4, 1997 


ART BUCHWALD 


The Lawyer Explosion 


W ASHINGTON — I 
work in a building in 
Washington that is occupied 
solely by Lawyers, ft wasn't 
that way several years ago, 
but as old tenants moved out 
only lawyers 
moved in. No 
matter how 
much govern- 
ment downsiz- 
ing Clinton pro- 
mised, nobody 
has been able to 
figure oota way 
to reduce the a- 
mount of legal 
talent the capital requires. 

Why does Washington 
need so many lawyers? 

This is a conversation I 
overheard in the elevator 
‘There’s talk of another 
Special Prosecutor being ap- 
pointed to investigate Clin- 
ton’s telephone calls.” 

“That means we’ll have to 
iace 



Buchwald 


to accommodate the 
lawyers.” 

“Resolute Tires wants 
someone to appeal its con- 
viction and tine of S10 mil- 
lion for burning tires in Cen- 
tral Park." 

“That could take years. 1 
think we ought to rent the 
whole fourth flow, and we 
could put the Littell harass- 
ment case up there.” 

□ 

“We'd better make it two 
floors — one for harassment 
and one for pleading Littell 
innocent of embezzling 
money from the House Post 
Office.” 

“I have a biggie coming my 
way — a Cabinet officer who 
took a private plane to the Su- 
per Bowl with his family and 
then stopped off in Buenos 
Aires to visit his daughter. The 
government wants him to pay 
all of it back, and I reckon that 
should take at least a year to 
straighten out.” 


I said, "‘You people are 
really busy.” 

“We have to be to pay far 
the partners* -new dining 
room. One of our major de- 
cisions is how much space 
we’ll need for die election 
campaign fraud inquiry. If 
Janet Reno is serious about 
prosecuting anyone, we’ll 
have to bring in a team from 
die New York office.” 

"We're talking about 
10.000 more square feet and 
the duplex gym on the top two 
floors.” 

□ 

I remarked, “Well, at least 
you’re tilling up the build- 
ing.” 

“We can’t fill it up entirety 
because Rotweiler & Rot- 
weiler have an option on half 
of it They are arguing a mar- 
garine antitrust case, and their 
people are spread out from 
Georgetown to the White 
House.” 

“Lawyering must pay 
well,” I said to nobody in 
particular. 

“It’s a living. For every 
person doing wrong there's a 
lawyer to argue that the per- 
son did nothing unusual un- 
der the circumstances.” 

Another lawyer on the el- 
evator said, “If you take die 
other side, then the person 
who actually did something 
wrong should be fined and 
punished and maria to pay for 
his mistake. We can go either 
way and usually do.” 

The elevator reached the 
ground floor. As the lawyers 
emptied out one said to the 
other. "My mother wants me 
to write out her wilL 

Does anyone know how to 
draw up a will?” 

They all shook their 
heads. 

“Maybe we ought to sign 
up for another 3,000 square 
feet and bring in an estate 
expert from Cleveland." 


Konchalovsky: Slavic Soul and Show-Biz Hustle 


By Alessandra Stanley 

New York Tunes Service 

M OSCOW — The film director 
who dared to bring Homer’s 
"Odyssey" to television has an- 
other epic project in mind: Henry 
David Thoreau. 

“Tboreau is my favorite chap; he 
was a great guy, the first beatnik and 
a great poo,” said Andrei Kon- 
chalovsky, the Russian director who 
made his breakthrough in 1980 with 
the acclaimed film “Siberiade.” 

Even after nearly two decades in 
the West, Konchalovsky still sees 
movies through the prism of the 
cultured Russian intelligentsia. His 
life has been a remarkable journey, 
from a youth as the son of die head 
of die Soviet Writers’ Union to a 
career in Hollywood. 

Now he has returned to work in 
Russia, where his brother. Nikita 
Mikhalkov, is a celebrated nation- 
alist filmmak er, the director of 
movies like “Burnt by the Sun.” 

Konchalovsky said he discovered 
Thoreau by reading Tolstoy, who 
admired him. The director described 
bis vision of a film biography of 
Thoreau as a Chekhovian romantic 
comedy with “amusing characters, 

taking and dr eamin g and tr ying to 
forget their morality.” 

Konchalovsky is fluent in Eng- 
lish and French, but after 17 years 
in Hollywood, where he directed 
several films for major studios, he 
is also conversant in studio-speak. 

"It's a combination of ‘The 
World According to Gaip’ and 
‘Forrest Gump,”’ he explained 
briskly. He envisions Robin Wil- 
liams or Tom Hanks playing Thor- 
eau, he said. 

The Film Society of Lincoln 
Center in New York is holding a 
monthlong retrospective of Kon- 
chalovsky's films at tite Walter 
Reade Theatre that started last Fri- 
day with “Uncle Vanya.” made in 
the Soviet Union in 1970, and 
“The Runaway Train,” an Amer- 
ican action movie made in 1985. 
But the director is in no mood to 
dwell on his past 

“I am hoping ‘The Odyssey’ 


will give me carte blanche to do 
new projects,” he said. ‘To me, 
success is being able to make the 
next film.” 

Konchalovsky, who is 60, is an 
odd amalgam of Slavic soul and 
Western snow-biz hustle. A clas- 

career making” small, lyiicaf films 
with an elliptical edge — his 
"Asya’s Happiness” of 1965 was 
banned by Che Soviet authorities un- 
til 1988 — he became famous after 
making “Siberiade.” an epic drama 
about life in Russia’s vast eastern 
territory, and emigrated to the West 
to pursue a Hollywood career. 

In person, the boyishly charming 
director is clever and cosmopol- 
itan, equally comfortable discuss- 
ing Spike Lee and Dante. But artist- 
ically, Konchalovsky has at times 
seemed trapped between clashing 
cultures. His attempts to make big- 
budget action films flopped; he de- 
scribed his 1989 film “Tango and 
Cash,” with Sylvester Stallone, as 
a “humbling experience.” 

In 1992. he came back to his 
Russian roots. Dying to explain the 
tenor of Stalin to an American audi- 
eoce with “The Inner Circle,” a film 
about Stalin’s movie projectionist in 
the Kremlin, starring Tom Hulce. It 
was not a commercial success. 

When he returned to Moscow in 
1994, he intended to make Russian 
films again. But his efforts to in- 
terpret and satirize the cataclysmic 
changes after the collapse of com- 
munism in films like "Ryaba My 
Chicken” were rudely received by 
Russian critics and ignored by 
audiences. 

4 ‘Russians didn’t like the i<W of 
someone talking about their 
faults.” he explained “Nobody 
enjoys hearing the truth about 
themselves.” 

His career was revived by tire 
unexpected critical and commercial 
success of “The Odyssey ,” an NBC 
miniseries starring Armand Assante 
for which Konchalovsky was di- 
rector and one of the writers. He 
won an Emmy this year for directing 
“The Odyssey,” but he did not at- 
tend the awards ceremony, he Said, 



“To me, success is being able to make the next film.” 


because he was convinced that the 
prize would go to Christopher 
Reeve for "In the Gloaming.” 

Now. after die Emmy, Kon- 
chalovsky said, he felt his luck had 
changed Besides a biography of 
Thoreau, he is hoping to make a 
movie based on “The Nutcracker.” 
He would preserve Tchaikovsky’s 
music but adapt the plot and visuals 
for today’s audiences, with special 
effects and Marvel Comics-style 
characters, he said 

Having conquered network tele- 
vision. Konchalovsky clearly still 


has his heart set on big-screen suc- 
cess. His version of "The 
Nutcracker” has little to do with 
children and sugarplum fairies. His 
highly stylized vision, laid out in an 
illustrated treatment, includes bats 
on bicycles and villainous rats that 
look ominously like Nazis. 

Konchalovsky has acquired an 
ear for mass culture, but he was not 
bom to it He is descended from 
one of Russia's most prominent 
families, one rtiat improbably 
spanned the aristocratic salons of 
prerevolutionary Empire to the 


state-owned dachas of the Soviet 
nomenklatura. 

His mother, descended from the 
nobility, was an essayist and a 
great-granddaughter of the painter 
Vasily Surikov. One of his uncles 
died In the gulag. But bis father, 
Sergei Mikhalkov wrote the lyrics 
to the Soviet national anthem. Kon- 
chalovsky grew up in tiie priv- 
ileged atmosphere of the Soviet 
Umon’s “golden youth.” 

U nlik e, his brother Nikita, Kon- 
chalovsky took his mother’s maid* 
en name professionally. 

In temperament and artistic 
sensibility, the two brothers are 
radically different. Mikhalkov is a 
Slavophile and monarchist. His 
films are deeply Russian: Most of 
them, including "Burnt by the 
Sun,” his film about Stalinist re- 
pression, are imbued with gauzy, 
lyrical imagery borrowed from 
Chekhov. He passionately disdai n s 
Hollywood. 

In 1992, Mikhalkov made the 
film “Close to Eden,” set in Mon- 
golia, which darkly satirized the 
invasion of Western materialism 
and pop culture. In a sideswipe at 
his brother, be featured Sylvester 
Stallone as the epitome of Western 
decadence. 

Konchalovsky said that he and 
his brother shared “some kind of 
aesthetic resentment,” but that 
they were personally very close. 

‘ ‘We watch each other with love,” 
be said. 

. Konchalovsky spoke despair- 
ingly of the Russian movie industry, 
which has all but come to a bait 
because of an absence of financing- 
a collapse of the distribution system 
and dwindling audiences. ‘ 

He was almost as pessimistic 
about the Hollywood system, com- 
plaining that the only option today* 
is to do either small-budget inde- 
pendent movies or huge $100 mil- 
lion blockbuster studio films thar 
exclude any freedom or creativity 
for the director. 

"Everybody dreams of making a. 
blockbuster,” he said. "I want to 
make one blockbuster, and then 
make every other film for myself.* 1 


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ART 


PEOPLE 


In Budapest, a Look at Soviet Art From ‘Bulldozer’ Era 


By Ruth Ellen Gruber 

B udapest — During 
the Cold War. the official 
Soviet attitude to contempor- 
ary nonconformist art was 
symbolized by a bulldozer. 

That image dated back to 
September 1974, when Mos- 
cow city officials sent bull- 
dozers and angry “workers” 
to disrupt an outdoor exhibit 
in a vacant lot of paintings by 
artists who were not officially 
sanctioned or recognized by 
the state. 

Bulldozers miming over 
paintings and chasing artists 
through the mud became 
powerful shorthand for the 
Communist regime's paranoid 
war against freedom of artistic 
expression. In this framework, the persecution of the 
artists and the political significance of their struggle 
and their work was often more important than the 
artistic merit of the paintings produced. 

The "bulldozer* days of censorship and per- 
secution — and of artists as dissident celebrities 
regardless of the quality of their an — are long 

gone. The work of dissident Soviet artists belongs . artists, through documentation and 
to a specific period of history, and indeed is now Knowing the extent to which individual artists 
increasingly studied by scholars for its political, were persecuted and the risks they took to produce 
perhaps more than artistic, importance. and clandestinely exhibit works of at times dubious 

A 
morn 


The 200 pieces in the Budapest exhibit are being 
shown in a former communist country for the first 
time. 

At the same lime, an exhibit called “Art of the 
Unofficial,” at the Galleria Centralis, associated 
with Central European University, illustrates the 
history and the political context of the art and 


ical context that made them meaningful. 

The major exhibit, “Nonconformist Art From 
the Soviet Union.' ’ presents hundreds of paintings, 
sculptures and conceptual pieces created by dis- 
sident, underground and nonconformist Soviet 
artists over more than 30 years. 

The exhibit, which runs until Nov. 16 in Bud- 
apest's Mucsamok, or Palace of Fine Arts, unites 
pieces from the Contemporary Collection of Mos- 
cow's National Tsaritsino Museum and from the 
Nancy and Norton Dodge Collection of Soviet 
Nonconformist Art, based at the Zimmerli Art 
Museum at Rutgers University in New Jersey. 

Amassed over three decades by Norton Dodge, an 
American professor of Soviet economics, the Dodge 
collection includes mote than 12,000 works by 1,000 
artists and is considered the largest and roost com- 
prehensive collection of Soviet nonconformist art 


“How can one look at the work without seeing 
the environment?" Istvan Rev, academic director 
of the Open Society Archives, wrote in the joint 
catalogue for the shows. "It’s probably not even 
worth trying to do so. These objects are not just 
works of art, but also documents.” 

This attitude was reinforced by the fact that the 
opening of both shows was accompanied by a two- 
day symposium on "Politics as Art/ An as Pol- 
itics," which recognized growing academic in- 
terest in nonconformist Soviet art 
“We are at the stage of museumization of this 
art." Phillip Dennis Cate, director of the Zimmerli 
Ait Museum at Rutgers, said at the symposium. 

Artists, art historians and collectors discussed in 
detail whether the art produced by Soviet non- 
conformists could, or should, be viewed on its own 


‘bulldozer exhibit” who was forced into exile by 
the regime, the graphic artist Dya Kabakov and the 
rainier Yevgeni Rukhin, who died in a suspicious 
fire at his Leningrad studio in 1976. 

Cate said the selection of works from the Dodge 
Collection — which also have been exhibited in 
Lisbon and will travel after Budapest to Tallinn. 
Estonia, Amsterdam and Antwerp — took aesthetic 
as well as political quality into consideration. 

"With the fall of the Soviet Union, the non- 
conformist artist essentially lost his or her function 
in society,” he said. “The Dodge Collection doc- 
uments the 30 years of nonconformist activity when 
it meant something for the artists and for Soviet 
society.*’ 


ra'T; 

* T' * * / 



Jjnr Vooriwn Wrli An Muacwa 

Detail of Grisha Brus kin’s "Fragment from Part HI of die Fundamental Lexicon,” 1985, from Dodge Collection. 


merits or whether it needed the political component 
to make it valid. 

‘ ‘There was a shared knowledge inside the scene 
that Soviet power had brought us to an island, 
isolated in time and space,' ’ said Boris Grays, an art 
historian who was part of the dissident Soviet art 
scene and now teaches in Germany. "We warned to 
send some message back from that island to the 
Continent.” 

The works presented at the Budapest exhibition 
encompass a range of artistic ana political ex- 
pair of exhibitions that opened in Budapest last artistic quality helped make sense of the main show, perience. Artists represented include better-known 
to showcase the artworks as well as the polit- as did learning about some of the movements and figures such as Oscar Rabin, an organizer of the 
— — — .u-. — 1 ~ .v —■ — fc.i conflicts within the nonconformist ait scene itself. " U " T ' ‘ 


Ruth Ellen Gruber is working on a book about 
non- Jewish interest in Jewish culture in Europe. 


F RANCE'S Prix Medicis 
was awarded Monday to 
the French author Philippe 
Le GuHlou and the- Femina 
prize went to Dominique 
Noguez. The Medicis foreign 
prize went to American T. 

Coraghessan Boyle for his 
novel “America.” published 
in French by Gras set the 
Chinese writer Jia PiNgwa 
won the foreign Femina prize 
for “La Capitale deenue” 

(“The Fallen- Capital"). 

□ 

Larry King got married — 
for. the second time in seven 
weeks. He remarried his latest 
bride, Shawn Southwick 
King, in a far grander cer- 
emony than the tiny bedside 
“I do's” exchanged in his 
hospital room Sept. 5. This 
time, the wedding Saturday 
was totally La-La Land. The 
ceremony was at the home of 
Michael Viner and Deborah 
Raffin. Viner publishes such 
literary lights as Faye Res- 
nick and. OJ. Simpson jurors Tracy 
Kennedy and Michael Knox. Ted Turner, 
King’s boss at CNN, was King’s best man. 

□ 

Prince Harry, in his first public outing 
since the death of his mother, Diana, two 
months ago, received special attention at a 
benefit ooncert given in Johannesburg by the 
Spice Girts pop group. “Hello Harry, we hope 
you are enjoying the show,” one of the quintet 
called up from the stage to a royal box where 
1 3-year-old Hany watched the concert with his 
father. Prince Charles. On Monday. Prince 
Harry and his father visited a rural school. 

□ 

Britain’s defense minister, George 
Robertson, will confer a honorary knighthood 
on a Soviet-era marshal for his World War II 
contribution to tire Allied cause. Robertson 
will present the honor to the widow of Ivan 
Stepanovich Koniev during a visit to Moscow 
this week. Koniev, who died in 1973, com- 
manded the steppe front at the battle of Kursk 
in 1943 in a major turning point of the war. 

□ 

Former President George Bush walked 



Kbmuna Miymu/Rcuicr. C 

LAUNCHING — Director James Cameron and actor 
Leonardo DiCaprio at Tokyo showing of “The Titanic.” 

through his life's work and was surprised. at 
what he saw. “I go back and see or read things, 
about it and I honestly find it hard to believe,” 
Bush. 73, said after touring his library and 
museum at Texas A&M University. About 
40,000 people are expected to attend the ded- 
ication ceremony for the library Thursday,' 
including President Bill Clinton and former 
presidents Jimmy Carter and Gerald Ford. 

□ 

Two years after being dumped by CBS 
following her ill-fated anchor pairing with Dan j 
Rather, Connie Chung will return to the airl, 
on ABC. Chung will report on newsmagazines' ’ 
like “Prime Time Live” and also will be 
available as a substitute news anchor. Chung’s 
hiring by ABC was set in motion after her plans 
for a syndicated talk show with her husband, 
Maury Povich, fell through. 

□ 

Among the items offered at the sale of 
Marlene Dietrich’s personal effects in Los 
Angeles were two letters that Ernest Hem- 
ingway once sent to Dietrich. The letters, along 
with two Pucci dresses, a bathing suit, a mink 
coat -and a cane that Noel Coward gave Di- 
etrich were bought by actress Jennifer Tilly. ■ 



in the springtime. 


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AT&T Access Numbers 


EUROPE 

Austro* o 

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Balgfam* 

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Greece* . .. 

00-808-1311 

Irelaoda 

1-808-560-000 

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172-1811 

Hettrartands*... . . .., 

MOWEZ-9111 

RBSita*A{MoscM)i 

75MM2 

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Sweden 

020-785-011 

Switzerland* 

-0800-89-0011 

United Kingdom * 

0500-89-8811 


08B8-8WBH1 

MIDDLE EAST 

Egyjrf*(C3tro)T . 

519-0288 

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