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The World’s Daily Newspaper R Paris, Friday, November 14, 1997 No. 35.678 


Asian Turmoil 


Confrontation Builds as Baghdad Defies UN 


To ‘Mute’ U S. 
Export Growth, 
Greenspan Says 

Fed Chairman’s Warning Leads 
Many Economists to Predict 
A Slowdown in the Economy 

By Erik Ipsen 

Inicnuitional Herald Tribune 

NEW YORK — The chairman of the U.S. Federal 
Reserve Board. Alan Greenspan, warned Thursday that 
although the direct impact of Asia's financial turmoil on 
the American economy had so far been modest, it “can 
be expected not to be negligible.” 

In testimony before a congressional co mmi ttee, he 
said the Asian crisis did not “threaten prosperity” in the 
United States. But he said that, depending on the extent of 
an “inevitable” slowdown in growth in Asia, “the 
growth of our exports will tend to be muted,” cutting into 
corporate profits. 

Mr. Greenspan also cautioned that there could be 
“indirect effects on the U.S. real economy from coun- 
tries, such as Japan, that compete even more extensively 
with the economies in the Asian region.” 


The U.S. Treasury secretary warns Japan that its 
banking system is greatly imperiled. Page 13. 


Mr. Greenspan said that what he found most trouble- 
some was the rapid spread of the crisis beyond the 
borders of Southeast Asia. ‘ ‘This phenomenon illustrates 
the interdependencies in today's world economy and 
financial systems.” he said. 

As the Fed's chairman spoke, some private- sec tor econ- 
omists began lowering their forecasts for U.S. growth. 

But on the other hand. Mr. Greenspan said, Asia’s 
turmoil was reducing the likelihood of accelerating in- 
flation in the United States. 

“The forces that have emerged out of die Southeast 
Asian difficulties are imparting a disinflationary effect 
on the United States and others,” Mr. Greenspan told the 
House of Representatives' Banking Committee, al- 
though be acknowledged that the effect was not “dom- 
inant or overwhelming." 

He also offered reassuring words for Asia, saying that 
setbacks in rapidly developing countries occurred * ‘from 
time to time,” and insisted that there was “no reason' 1 
above-average growth rates in die region could not be 
rekindled in time. 

Mr. Greenspan revised an earlier statement that only 4 
percent of America's exports were sold in the Southeast 
Asian markets where the crisis took root in July, saying, 
now that the crisis has now grown to engulf other Asian 
economies such as Hong Kong and Taiwan, that those 
markets accounted for ‘‘an additional 12 percent of 
American exports.” 

Deputy Treasury Secretary Lawrence Summers, who 
See ECONOMY, Page 7 


Republicans Withhold 
Funds for UN and IMF 

Step Is Reprisal for Clinton Abortion Stance 
By Eric Pianin and Thomas W. Lippman 

Htoftiwgwi Post Service 

WASHINGTON — Republican leaders, frustrated by the 
administration's unwillingness to compromise on an in- 
ternational family planning and abortion issue, are retaliating 
bv stripping a foreign spending bill of authority to reorganize 
the State Department, to pay $819 million in back dues to the 
United Nations, and to issue a credit line to the IMF. 

The House ratified the action early Thursday morning by a 
vote of 333 to 76. Rejection of the UN funding package marks 
a serious defeat for the Clinton administration and for Sec- 
retary of Slate Madeleine Albright, who regards the Wash- 
ington's debt to the United Nations as a threat to American 

influence there. ’ . , , 

“1 am concerned,” Mrs. Albright said m a speech here 
Wednesday. * ‘about the fact that there is a veiy real possibility 
that Congress will adjourn this week without approving 
legislation we need to fund important aspects of our foreign 
policy including programs we need to reorganize the De- 
partment of State, contribute to international financial in- 
stitutions, and pay our arrears at the UN. . 

“Can you imagine," she added, “while we re asking the 
UN to be the first line in our discussions about how to make 
the Iraqis comply with weapons inspections, that we are 
actually debating about whether we should pay back our dues 

3t Mrs U Albright has made payment of the UN amears one of 

^Another casualty* of die congressional action is the ad- 
ministration’s request for a $3.5 billion credit line for the 
International Monetary Fund that could be used to help 
stabilize the currencies of Southeast Asian COtmtiies^In- 
stability in the Asian markets contributed to the global stock 

billion foreign aid 

^^Hbilfion^^tiieln^mational Fnnd 3926 

million for the dues owed to the United Nations. 



hi \biUtuiv jnJ Prior Vt«,-gnltnrm 


President Bill Clinton speaking at the White House on Iraq's decision to expci U.S. members of the UN 
weapons inspection team; the Iraqi deputy prime minister, Tariq Aziz, taking a cigar pause at the U.N. 


A Surge of Threats to Americans 
As U.S. Brings Terrorists to Justice 


Closing a Chapter 
OnN.Y. Bombing 

By Blaine Harden 

Wtuhjngtun Post Sen-ice 

NEW YORK — Ramzi Ahmed 
Yousef, an electrical engineer who 
prosecutors said masterminded the 
world Trade Center bombing because 
he “wanted to make Americans feel 
terror,’ ’ has been found guilty of con- 
spiracy in the 1993 bombing. 

While die verdict closes the last ma- 
jor chapter in the four-year bombing 
investigation, federal officials said there 
were still a number of loose threads that 
had not yet been tied together, including 
die continuing hunt for an accomplice 
who prosecutors said mixed chemicals 
for the bomb across the Hudson River in 
Jersey City. 

Investigators said that Mr. Yousef, 
while clearly a mastermind of the plot, 
may not be the only individnal in on its 
p lanning . They say that his funding 
before the explosion and his extensive 
fugitive travels afterward suggest feat 
he may have been sponsored by coun- 
tries feat fee United States has labeled 
as supporting terrorism, such as Syria, 
Libya or Iran, or by some other as-yet 
unidentified terrorist group. 

After three days of deliberation, a 
federal jury late Wednesday accepted 
the prosecution’s claim that Mr. 
Yousef, who is of uncertain nation- 
ality, and a Pakistani accomplice, Ey- 
ad IsmoiL plotted to kill a quarter 
million people by blowing up fee 1 1 0- 
story twin towers in Manhattan. 

Sentencing is expected early next 
year, both men could face life terms. 

In Washington, fee Stale Depart- 

See VERDICT, Page 4 


Warnings Follow 
Pakistan Slayings 


By Kenneth J. Cooper 

Washington Post Semce 

ISLAMABAD, Pakistan — Amer- 
icans working in fee port city of Kara- 
chi are taking security precautions in 
the wake of fee killing of four U.S. oil 
company workers and a Pakistani 
driver. 

Prime Minister Nawaz Sharif tele- 
phoned President Bill Clinton to 
pledge aggressive action to find fee 
gunmen, and fee State Department 
warned Americans to postpone non- 
essential trips to Pakistan. “The se- 
curity situation in Karachi deteriorated 


Karachi slayings shock victims' 
colleagues in Houston. Page 4. 


seriously” wife the rush-hour ambush 
of the four employees of Union Texas 
Petroleum Co., it said. 

The FBI has sent a team of agents to 
Pakistan to investigate the killings, 
despite concern feat they might fall 
into a trap set to avenge the conviction 
of Mir AimaJ Kasi of the 1993 fatal 
shootings of two employees outside 
CIA headquarters near Washington. 

Mr. Kasi. originally indicted under 
fee name Kansi, was "convicted Mon- 
day of the killings, and fee jury was 
hearing evidence Thursday before be- 
ginning deliberations on a sentence. 

Two previously unknown groups 
separately took responsibility for 
killings, but an official of the U.S. Em- 
bassy in Islamabad indicated that the 
claims were not considered credible. A 

See KARACHI. Page 4 


Calls in Malaysia 
Vow More Killing 

CnqnlfJ Ik Our Sur Firm fMpu* fcr' 

KUALA LUMPUR — The U.S. 
Embassy here said Thursday in a notice 
to fee American community that it had 
received two telephone calls threaten- 
ing harm to U.S. citizens in Malaysia. 

“One of the callers specifically 
threatened to kill four Americans in 
Malaysia,” fee embassy said Thurs- 
day, a day after four U.S. businessmen 
were shot and killed in Pakistan. 

But Prime Minister Mahathir bin 
Mohamad reassured Americans feat 
they faced no physical threat. 

‘‘I don't. believe fee threat will be 
followed by action," a spokesman for 
Mr. Mahathir quoted fee prime min- 
ister as saying. 

“Malaysians are not violent 
people,*' he was quoted as saying. 
“Malaysians don't do such things.” 

But fee prime minister said fee tele- 
phone threats reflected a feeling of 
anger shared by some Malaysians! 

The U.S. Embassy said it was unable 
to assess fee credibility of fee threats 
but told Americans to “maintain a high 
level' of security awareness." The 
number of Americans working in 
Malaysia is estimated in fee thousands, 
and hundreds of American tourists vis- 
it sites in Malaysia each week. 

Mr. Mahathir has come under crit- 
icism from U.S. politicians for speak- 
ing of a Jewish conspiracy behind the 
Malaysian currency crisis. The prime 
minister later said he was only re- 
peating what some people were saying, 
and did not share the belief himself. 

A resolution by the U.S. Congress 
calling on him either to apologize or 

See THREAT, Page 4 


U.S. Arms Inspectors 
Ordered to Leave Iraq 


By Barbara Crossclte 

,\nr Kiri Tiiiirt Srn-i, ,■ 

UNITED NATIONS. New York — Throwing down a 
direct challenge to the United States and the United Nations. 
Iraq on Thursday ordered American arms inspectors to leave 
the country immediately. 

The UN responded within hours to the Iraqis, announcing 
that it would withdraw alt its monitors rather than comply w ith 
the Iraqi demands. Only a skeletal staff of technicians w ill be 
left behind to take care of equipment and helicopters. 

President Bill Clinton called fee Iraqi decision to expel the 
American inspectors an unacceptable challenge to the in- 
ternational community, and the chief U.S. delegate to the 
United Nations predicted “grave consequences.'" 

U .S. officials again did not rule out military action, but they 
put fee emphasis on working diplomatically through the 
Security Council, which told Iraq on Wednesday that it could 
not choose who takes part in the LIN teams. 


Washington's hopes for Arab coalition dim. Page 7. 


Iraq says the inspection teams have become an instrument 
of U.S. policy. deliberately obstructing Baghdad's attempts to 
win a reprieve from UN sanctions. 

Mr. Clinton, after meeting with his National Security 
Council on Thursday morning for nearly two hours, said he 
would pursue the issue “in a very determined way." 

“Iraq's announcement this morning to expel the Amer- 
icans from the inspection team is clearly unacceptable and a 
challenge to the international community.” he said. 

“It is important to the safety of the world they continue 
their work.” he said. 

The UN asked the Iraqis to allow the six remaining 
.Americans to leave on the commission's evacuation flight 
Friday. But the chief UN weapons inspector. Richard Butler, 
said that Iraq had refused the request and insisted that they 
depart Thursday. 

He said the Americans and "a lew others” left late 
Thursday by road for a seven-hour drive across the desert to 
the Jordanian border and an additional four hours oil to 
Amman. 

In an atmosphere of crisis feat gripped UN headquarters 
Thursday for the first time in this latest confrontation with 
President Saddam Hussein. Mr. Butler ordered 11-2 sur- 
veillance planes to continue flying, in defiance of an Iraqi 
threat to shoot at them. 

Apart from those high-altitude flights and the functioning 
of automatic sensors and cameras feat can be monitored from 
a distance, the UN inspection system that has destroyed more 
Iraqi weapons than American-led forces did in fee Gulf War 
in 1991 will halt for fee first time since then. 

"I think it's an outrageous and irresponsible action on the 
part of the Iraqis.” Bill Richardson, fee chief U.S. rep- 
resentative at fee UN, said after he returned from a White 
House meeting on the Iraqi order to the United Nations 
Special Commission. 

* ‘The United States strongly supports Ambassador Butler's 
decision to pull out a strong majority of fee Unscom per- 
sonnel.” Mr. Richardson said, referring to fee disarmament 
commission. “We think it’s critically important that fee Iraqis 
guarantee the safety of those remaining behind." 

Mr. Richardson said feat Iraq had violated fee UN Charter 
and that “there are going to be some serious consequences.” 

“We are going to discuss this issue with our allies.' ' he 
said. “That's the first step.” 

But fee coalition feat formed after Iraq's invasion of 
Kuwait in 1 990 and fought together in the war that fallowed is 
shaky at best, wife almost no government except Britain's 
standing beside the United States. 

The Security Council voted unanimously Wednesday to 
impose travel bans on Iraqi officials and demand that Bagh- 
dad withdraw fee threat to expel Americans. But several key 
members — Russia, France and China — all made it clear that 
they were not condoning war. 

Egypt, reflecting disquiet about both the endless embargo 
on Iraq and fee Arab world’s dissatisfaction wife Wash- 
ington's Mideast policies, also voted against Iraq wife con- 
siderable reluctance this week. 

Secretary-General Kofi Annan, who at political risk to 
himself sent three envoys to Iraq last week to "give Baghdad 
a ladder to climb down on,” said in a statement Thursday ihat 
he regretted that diplomatic efforts had not been successful. 

“■Hie matter is now in the hands of fee Security Council,” 
he said. 

The immediate concern is whether President Saddam will 
use the absence of weapons monitors to produce or assemble 

See IRAQ. Page 7 



'ABSOLUTELY NO EVIDENCE’ — FBI's TWA 
Flight 800 inquiry found no sign of a crime, a letter 
by Assistant Director James Kallstrom says. Page 2. 


AGENDA 

Russia-Iran Missile Link Again Reported 


LONDON (Reuters) — Prime Min- 
ister Benjamin Netanyahu of Israel said 
Thursday that Russia was stili passing 
ballistic-missile technology to Iran, 
which he said was just a year away 
from acquiring a long-range nuclear- 
missile capability. 

He tola a meeting of the House of 
Commons, "If fee supply of Russian 


PAGE TWO 

The Badgered, Baffled Bushman 

THE AMERICAS Page 3. 

Cun Permits Anger White Home 

INTERNATIONAL Page 6. 

Rabin Report Indicts Security Service 


technology is not stopped, then within a 
year Iran would become self-sufficient 
and would be able to create those mis- 
siles on its own.” 

Russia has repeatedly denied charges 
from Israel and Washington that it is 
passing missile know-how to Tehran. 
But Mr. Netanyahu said the flow of 
Russian technology was continuing. 

NATO Lowers the Bill 

A NATO study on the cost of ab- 
sorbing the Czech Republic, Hungary 
and Poland has concluded feat fee U.S. 
estimates were much too high and that 
any extra burden for NATO budgets 
should amount to less than $2 billion 
over the next decade. Page 7. 


1 The Dollar 1 

New York 

Thursday JPM. 

P<h>i0us close 

DU 

1.7258 

1 7175 

Pound 

1.698 

1.7CU5 

Yen 

125.675 

126 525 

FF 

5.77B5 

5.7572 

LA- 

The Dow 

1 

Wm 

ThunMby close 

previous ctoso 

+86.44 

7487.76 

7401.32 

S&P 500 | 

Change 

Thursday J JPM 

previous close 

+11.01 

917.05 

906 04 


Books Page H. 

Crossword Page 22. 

Opinion Pages 8-9. 

Sports Pages 22-23. 

Sponsored Section Pages 20-21. 

The Euro and finantdai Martlets in Franca 


ThelHT on-line www.iht.com 


tewsstand Pijcg g 

10.00 FF Lebanon 1L .3,000 

12.50 FF Morocco..— 

600 CFA Qatar !£J2.?2 

1O.00FF SaudAiabra^JOSR 
,700 FBS U S. W, (Eut)--SI-ZO 




In Vietnam, Where English Is King, France Declares a Revolution 


By Craig R- Whitney 

New York 77 mn Service 


HANOI — Under siege in Africa, intimidated 
on fee Internet, fighting for its l ift in Indochina, the 
embattled French language will rally its defenders 
this week in Vietnam, a former colony of France 
where fewer than half of one percent of the 75 
million Vietnamese still speak French. 

“Everybody wants to I earn English to get a job,’ 
said Duong Bay, who got his at the Foreign Ministry, 
by pursuing English studies at fee university here. 

Even Nguyen Lan, a 90-vear-old professor who 


compiled fee leading Vietnamese-French diction- 
ary, nas calling cards in Vietnamese and English, 
not French — his secretary did it that way without 
asking him, he said. Most people here stopped 
using French when Ho Chi Minh defeated the 
French Army in 1954. 

From Friday to Sunday, Presidenr Jacques Chirac, 
who on Wednesday stoned fee second visit to Vi- 
etnam since 1954 by a French chief of state, and 
leaders of more than 30 other countries, including 
some wife only a passing acquaintance wife French, 
will meet here to fight for the Francophone way in a 
(to some of them) depressingly Anglophone world. 


There’s nothing strange, they say. about holding 
a Francophone summit in a place where French is 
hardly spoken. 

“Even though fee percentage of Vietnamese 
who speak the language fluently is not very great, 
quality is more important than quantity.” said 
Pham Khac Lam, a fluent French speaker who 
heads a committee dealing with fee millions of 
Vietnamese who live abroad. 

To the French, this summit conference appears 
to be a kind of beau geste well worth their 70 
percent of the SI7 million cost of holding the 
meeting. For if English is the global medium of 


commerce and communication. French is t! 
sage itself to Francophones. 

The “Conference of Chiefs of State an 
emment of Countries Having French in Con 
to give this meeting its formal name, i 
representatives of 44 member countries ar 
soctare members. Portuguese-speaking Sa. 
and Principe and Romanian-speaking Mok 
Some members, like France. Ivory Co 
Democratic Republic of. the Congo and 
actually use French as an official langu 

See PARLEZ-VOUS, Page 7 












INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14, 1997 


PAGE TWO 


Baffled Bushmanland / Where Tradition Turns to Dust 


Good Intentions Breed Despair 


By Donald G. McNeil Jr. 

New York Tunes Sendee 


M AKURI VILLAGE, Namibia — “If 
the kudo barks when you hit it, yon will 
eat tonight,” said Tomas Xaixae. “It 
means you hit the stomach. But if you 
hit the leg, you must follow it for two days.” 

Mr. Xaixae — the X’s represent clicks in the 
Khoisan language — can track a kudu antelope for 
days as it slowly weakens from the poison on his 
fragile arrow. He is a hunter in the traditions of his 
ancestors, who have lived uninterruptedly on this 
land for 40,000 years. 

Mr. Xaixae also used his tracking skills in die 
South African Army, for which he tracked black 
guerrillas so they could be killed by white soldiers. 

He would track game for foreign hunters who he 
has heard hire Khoisan, or Bushmen, as the natives 
of southwestern Africa were long known, but he 
does not know how to meet them. 

Meantime, he tends some cows that his village 
owns. He is supposed to be overseeing a “self-help 
project,” a tourist campsite under a huge baobab 
near his village, but rabbits have shredded its water 
pipe, the outhouse is tipping into its pit and Mr. 
Xaixae has the disconcerting habit of appearing at 7 
AM, sometimes with three or four friends, to stare 
at visitors’ breakfasts, hinting in Afrikaans, “We’re 
very hungry.” 

He also cadges cigarettes and sweets, and spends 
much of his day like the rest of the 20 people in his 
village, lying around in broken-down huts doing not 
much of anything. 

. Such is foe plight of foe “unspoiled children of 
nature” whom tourists drive hundreds of kilo- 
meters to see. 

While Khoisan in other countries are under pres- 
sure to find city or farm jobs or simply move away, 
this comer of Namibia is set aside for them, and 
inhabitants of its 37 villages have legal rights to 
hunt and gather wild foods like foe utter melons 
that dot the landscape like green softballs. 

Buta week spent driving its sandy tracks shows it 
to be a battleground fought over by competing 
interests — foe government, tourism promoters, 
greedy neighbors and a foundation started by Amer- 
ican filmmakers. The group with the least say is the 
vulnerable, gentle, baffled Khoisan: With the fad- 
ing of their way of life, they have been relegated to 
foe status of cariosities in a game park. 

There are only a few thousand in the 5^00 square 
kilometers (2,000 square miles) of Eastern Bush- 
manland — up to 50 in each village and more in the 
mod huts of Tsumkwe, foe regional capital Most 
have lived here all their lives; a few have climbed in 
over the fence from Botswana, after pressure to 
leave ancestral lands that are now national parks. 

In theory, they are supposed to live as they always 
have, gathering roots and hunting with tiny bows 
and the long flexible spears they push down rabbit 
holes. But Bushmanland is not a closed biosphere, 
and everyone cheats on foe dream. 

The Khoisan cheat by using horses, dogs and 
guns. Several villagers denied owning horses but a 
quick climb up foe scaffolds over their wells usually 
produced foe sight of one or two grazing in the 
bush. • 

Arno Oosfouysen, owner of a 12-beST tourist 
lodge in Tsumkwe, said of foe Khoisan: “In the 
south, they've wiped out all the eland and giraffe. 
With horses, you can kill anything. Soon— nothing 
left” 

The inhabitants of nearby Hereroland cheat by 
driving their cattle into Bushmanland, eating up the 
grazing that supports antelopes. After a series of 
articles in a national newspaper, the government 
built a new fence; it excludes cattle but stops game 
migration, too. 

The government “cheats” out of civic duty by 
distributing drought relief and social security pay- 
ments to the aged Mr. Oosfouysen complains that ■ 
the cash has drawn in “human hyenas." A pickup 
filled with beer and cane liquor now trails foe 




$**#*v : 











tlwuld li V. Krt Timn 


monthly government pay van, he said, and many 
mud huts in Tsumkwe are now illegal taverns. 
Alcoholism, petty theft and prostitution have 
soared, he said. 

The Nyae-Nyae Foundation, which has quarters 
in the village of Baraka, “cheats” by encouraging 
Khoisan to raise cattle and vegetables. Its founder 
argues that the old ways became unsustainable 30 
years ago, and starvation threatened But cattle- 
raising helps destroy foe old ways. Herders need 
lion-proof pens and a permanent water source, so 
the Khoisan never migrate, and quickly exhaust 
wild foods. 

And Mr. Oosfouysen “cheats'.' too by encour- 
aging the myth of the wild Bushman for dollars. 

He has picked Deexuha, at the end of a sand road 
passable only with four-wheel drive, as his model 
village. The flattened tin cans and sugar sacks that 
litter other villages have been picked up and die huts 
are neat Villagers spend hoars making curios of 
beads, ostrich eggs and the shells of small tor- 
toises. 

When a track with tourists' arrives, Deexuha 
perks up. Three wizened men in brown overalls get 
up. “We’ll put on our Bushman gear,” says one, 
and they change, into beaded loincloths. Skin 
quivers, -bows and spears appear, and they lead 
visitors on a fascinating two-hour trek across the 
■veld, hunting rabbits, checking snares, making fire 
-with two sticks and weaving rope out of a spiky 
plant called ‘ ‘mother-in-law’s topgue.” 

They each get about $ 1 2 and village women have 
sold as much as $350 worth of curios in a day. 

“European hunters come to watch them,” Mr. 
Oosfouysen said- “They think Bushmen are foe 
greatest hunters in the world.' ’ 

The Nyae-Nyae Foundation may be the most 
powerful force in the area — and foe most con- 
troversial. Its officials sometimes refer to all Bush- 
manland as “our resources,” as if they owned it 

It was started by John Marshall, an anthropo- 
logist and film-maker in Cambridge, Massachu- 


In Deexuha, Bushmanland, 
the local Khoisan men 
entertain tourists by 
changing into loincloths, 
picking up their skin 
quivers , botes and spears, 
and demonstrating their 
hunting skills. 


■ setts, who with his wife, Claire, lived 
here on and off for many years starting 
in 1951. Fluent in foe local language 
and now something of a legend him- 
self, Mr. Marshall pushed for the Khoi- 
san to shift to cattle- herding, and he had 
. ' : ' ; a many of the local wells dialed. 

i 4 ?*' “Anything that rests on this fantasy 
_• ' •* >r lV * '*' ■ that people can still live by hunter- 
r?-"— gathering is bound to flop,” he main- 

1 tains 

a But undo; his successors, the foun- 
dation split ideologically between 
cattle proponents and tourism pro- 
ponents, and Mr. Marshall now calls it 
wasteful and disorganized. He was here 
ivv. fekTau-i in October to record new sound for his 
1974 National Geographic documen- 
tary “Bushmen, of the Kalahari,” but he was also 
criticizing foe foundation, whose board he sits on. 

I TS VILLAGE. Baraka,- is a strange sight At 
the east end, Khoisan live in split-log houses 
with glass windows built as tourist cabins but 
never used for that In the middle is a 
classroom, a grocery and a workshop where trucks 
are fixed and mechanics taught, but it is littered with 

g iles of rusting plows and new donkey carts with 
at tires. At foe west end are cabins with solar 
panels and running water, occupied by white staff 
members and consultants. A row of new Toyota 
Land Cruisers is parked there. 

“A millio n-dollar xxoana," said Mr. Marshall, 
using foe word for a circle of huts. He shakes his 
head in disgust He wants foe foundation’s overseas 
donor money spent on pumps and fences, and to 
teach fanning. 

Residents of other villages, like Xaixae, are more 
scathing, saying foe foundation ignores their plight 
when elephants smash their wind-pumps or they 
need advice on mana ging campgrounds, but expects 
than to hand over tourist income for “admin- 
istration expenses,” 

Asked about the complaints, Simon Troman, a 
technical adviser, angrily answered: “I’mtone of 
those white consultants, and I’m quite insulted. I 
don’t think anything of working a 12-hour day, 
repairing water pumps or driving people to hospital, 
and that r s not even in my job description. There are 
only three whites permanently on staff, and they 
don’t earn half of what they could at home. 1 ’ 
Moses Xoma, Nyae-Nyae’s manager in Baraka, 
says everyone needs to compromise, including tour- 
ists. “People romanticize this area,’ ' hesaid. ‘Thad 
one lady tell me she wanted to see a Bushman. I said, 
‘I’m a Bushman.' She said, ‘No, a wild Bushman, 
with a tail* We have to educate them: We need to 
make it clean if you come, yes, you'll see people 
hunting — and you’ll see people herding cattle, we 
don't live as we did 200 years ago." 


At Last, UN Heads Out # 
On the Road to Reform 



By Barbara Crossette 

New York Times Service 

UNITED NATIONS, New York — 
The General Assembly has given its 
approval to a package of UN admin- 
istrative reforms proposed by S ecretaiy- 
General Kofi Annan. 

The action Wednesday was foe first 

step in a complex process of change that 

is likely to stretch over months, and 
none of the measures address foe de- 
mands being made by some members of 
foe U.S. Congress. 

But the willingness of the assembly to 
begin moving on reform was welcomed 
by Bill Richardson, foe U.S. represen- 
tative at foe United Nations. 

“Hopefully, foe success of reform 
will mean foe U.S. Congress will finally 
give us our money to pay the arrears,” 
he said after foe proposals were ap- 
proved. The United States owes foe 
organization more than $1. billion. 

UN officials are optimistic that the 
185-member General Assembly has 
overcome foe inertia and suspicion that 
threatened to stall Mr. Annan’s program, 
and will be bettor prepared to tackle the 
more difficult proposals that lie ahead. 

“We have not made big headlines, 
bnt we have-certainly made headway,” 
said Hennadi Udovenko, president of 
the assembly this year. Mr. Udovenko is 
foreign minister of Ukraine. 

Even so, delegations as diverse as 
Cuba and Swaziland took foe floor to say 
that the five-week process of debate lead- 
ingto approval had been “rushed.” 

The measures approved Wednesday 
were actions that Mr. Annan can take 
within foe powers he has as secretary- 
general- The only remaining challenges 


foat could affect than would be obsades 

raised by foe assembly committee deal- 
ing with foe organization's budget 

Next to be considered by foe assembly 
is apackage of proposals that Mr. Annan 
cannot put into effect without what 
frmnnnte to legislation by foe assembly. 

In an address to foe assembly, Mr, 

■ Annan made a special appeal for sup- 
port for his plan to create foe post of 
deputy seoretary-generaL As envisaged 
by Mr. Annan, a deputy would share the 
ceremonial and administrative duties of 
the office and fill in when the secretary- 
general is on trips abroad. 

Some nations have expressed con- . 
cent this arrangement would give 
too much authority to an un elected of- 
ficial outside foe control of the Security' 
Council and General Assembly. . 

The measures that woo approval in- 1 
chided the creation of a senior man- 
agement group, or cabinet, to serve as the 
secretary-general's council of advisers 
and to coordinate foe work of an or- 
ganization where departments and agen- 
cies have operated as independent fiefs, 
with little communication among than. 

Also approved was the re-establish- 
ment of a Department of Disarmament 
Affairs in New York. Most of foe dis- 
armament work of the United Nations is 
now done in Geneva, where the standing 
Conference on Disarmament is based. 

The assembly also approved the es- 
tablishment of an international crime 
center in Vi enna to combine the work of 
UN agencies dealing with narcotics and 
crime prevention. Mr. Annan has also* 
conso lidated hnman rights activities in 
Geneva under his new high commis- 
sioner for h nman rights, Mary Robin- 
son, former president of Ireland. 


FBI Goses TWA 300 Inquiry: 
‘Absolutely’ No Sign of a Crime 


TRAVEL UPDATE 


By David Rohde 

New York Times Service 

NEW YORK — The FBI has for- 
mally ended its c riminal investigation 
into the 1996 crash of Trans World 
Airlines Flight 800, saying that it had 
“found absolutely no evidence” of a 
criminal act, according to a letter foe 
agency's top investigator in the case 
sent to foe familie s of crash victims. 

Law enforcement officials said Wed- 
nesday night that foe letter, signed by 
James KaUtfram, assistant director of the 
FBI in charge of the New York office, 
was sent so that the families would not be 
^surprised when foe agtttey mfifle its of- 
ficial announcement of foe end of the 
criminal investigation Tuesday. 

A separate investigation by foe Na- 
tional Transportation Safety Board into 
whether mechanical failure caused the 
explosion will continue, officials said. 

In the letter, Mr. Kallstrom said agents 
had interviewed more than 7,000 people, 
conducted extensive forensic tests and 
had undertaken “the largest aircraft re- 
construction mock-up in commercial avi- 
ation history” without finding any ev- 
idence of criminal wrongdoing. “Every 
lead has been covered, all passible av- 
enues of investigation exhaustively ex- 
plored and every resource of the United 


WEATHER 


States government has been brought to 
bear in this investigation,” he wrote. 

Although the FBI has said repeatedly 
in recent months that it had no evidence 
that foe Boeing 747 was knocked down 
by a bomb or missile, the letter was a stark 
'reminder afhow far the investigation had 
come since the ni gh t of July 17, 1996, 
when die jet burst into a fireball, killing 
all 230 people on board and scattering 
wreckage hi die Atlantic Ocean. 

At the time, few could believe that foe 
cause could be anything but sabotage. 
The explosion, which occurred only 13 
minutes after Flight 800 took off from 
Kennedy International Airport, .was eer- 
ily reminiscent of foe 1988bambingOfa 
Pan Am jet over Scotland. 

In foe early days after foe crash, rela- 
tives of the victims criticized inves- 
tigators for failing to advise them of 
developments. The letter from Mr. Kall- 
strom, which was mailed to families 
overseas on Monday and to those in the 
United States on Wednesday, seemed 
designed to avoid that sort of criticism. 

“They did the best they can," said 
■Richard Penzer, of Lawrence, New 
■ York, whose sister died in the crash. 

Safety board investigators say that an 
explosion of jet fuel fumes in foe center 
fuel tank destroyed the jet, but they have 
yet to dete rm ine what ignited foe fumes. 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14. 199^ 


PAGE 3 


THE AMERICAS 


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150,000 Weapons, Set for Banning, Get Import Permits 


POLITICAL NOTES 


By Elizabeth Shogren 

Los Angeles Tunes Sen ice 


WASHINGTON — White House 
officials are furious over their dis- 

• covexy that a “rogue operation” in 
the Bureau of Alcohol, Tobacco and 

• Firearms has accelerated approval 

. of import permits for 1 50.000 mod- 

jfied assault weapons despite Pres- 
ident Bill Clinton's clear intent to 
keep such guns out of the country, 
according to administration 
sources. 

The permits were approved “in 

• an expedited manner’ ’ by a group of 
agents who * ‘knew full well that the 
weapons were ail but banned by the 
president,” a senior administration 


official said. 

The official noted that Mr. Clin- 
ton was on the verge of issuing an 
executive order barring imports of 
rapid-fire arms. The order is being 
drafted with the agency’s help. 

White House officials are “liv- 
id” about the permit approvals, 
which have complicated the already 
difficult process of developing a 
policy to stem the influx of the so- 
called copycat assault weapons. 
These foreign-made, rapid-fire arms 
— altered to get around the legal 
restrictions on imports of assault 
guns — are circulating in the United 
States by the thousands. 

The guns that were hurriedly ap- 
proved last • month comprised 


50,000 WUM-Is made in Romania 
and 100.000 MISRs made in Egypt. 
Both weapons a re knockoffs of the 
Kalashniko v AK-47 assault rifle, an 
administration official said. 

Officials at the Treasury Depart- 
ment. which has jurisdiction over 
the Bureau of Alcohol. Tobacco and 
Firearms, confirmed Wednesday 
that permits allowing dealers to im- 
port cop)' cat weapons had been ap- 
proved last month. 

The approvals were brought to 
the attention of the department by a 
high-ranking official at the bureau, 
die Treasury official said. 

“We are concerned about this 
matt er,” a senior Treasury Depan- 
mem official said. “We have a re- 


view taking place to look at why 
these permits were approved. The 
concern comes ftom the fact that 
there was clearly a policy review 
taking place that should not have 
been a secret to any one." The 
White Honse confirmed three weeks 
ago that the president was planning 
to issue a directive temporarily ban- 
ning new import permits for ap- 
proximately 30 versions of the mod- 
ified assault weapons while the 
government studies whether they 
should be permanently barred on the 
grounds that they are unsuitable for 
sporting purposes. 

Due in part to pressure from Con- 
gress, the White House has been 
studying the possibility of expand- 


ing the temporary ban to prevent 
imports of weapons that have 
already been issued permits, admin- 
istration officials s^id. 

In the last year, the bureau has 
issued permits for utout 600,000 
weapons. However, the influx of 
weapons, while disturbing, is not as 
extensive as the permit numbers Im- 
ply. administration officials cau- 
tioned. 

The permits are given for die 
maximum number of allowable 
weapons and actual imports usually 
fall far short of lhat. a Treasury- 
Official said. 

As of Monday there was no report 
that any of those 600.000 weapons 
had arrived in the United States. 


Paula Jones 
Interrogated 


‘Fast -Track’ Setback Imperils Trade Plan for Americas 


By Anthony Faiola 

Washington Post Service 


trade protectionists — over the lack of U.S. 


LIMA — When President Bill Clinton 
whisked through South America last month, 
he made free trade the crux of his agenda. He 
declared a new era of economic partnership 
with the region, insisting that he would make 
negotiations for a hemisphere- wide free-trad- 
ing block the focus of the second Summit of 
the Americas, scheduled for next April. 

But now that Mr. Clinton has failed to win 
from Congress what amounted to the power to 
negotiate trade agreements, South Americans 
have become more skeptical of his crusade. In 
some countries, particularly Chile — which 
Mr. Clinron had promised to make the next 
nation to participate in a free-trade accord — 
business executives and government officials 
expressed frustration and disappointment 
They said they were losing faith that such an 
accord would ever be concluded. 

Yet, in other South American countries there 
was indifference — and even applause from 


congressional support for the president's po- 
le. Those sentiments seemed 


sitioa on trade. 
strongest in B razil, the region's industrial 
powerhouse, where there is growing oppo- 
sition to the extension of a free-trade accord to 
Braril and its trading partners in South Amer- 
ica. Many Brazilians fear such an accord would 
only widen the trade deficit, a major factor in 
the country’s brewing economic crisis. 

“Nobody is happier about Clinton’s failure 
than the protectionists in Brazil,” said Marcus 
Nones, a partner in MCM Consultants, a Sao 
Paulo-based economic research group. 

The issue centers on Mr. Clinton's inability 
to win support for a piece of legislation — 
known as ^fast-track” trade negotiation — 
which essentially gives the president the 
power to conclude trade agreements with for- 
eign nations. With such authority. Congress 
can only vote yes or no on trade accords 
without tinkering with the language. South 
American nations, whose leaders already 
have such authority, have said they will not 


sign free-trade agreements with the United 
States unless the White House has fast-track 
capability — which previously was enjoyed 
by every U.S. president since Gerald Ford. 

During his trip to South America, Mr. Clin- 
ton called on leaders to head into serious 
negotiations to create a hemisphere- wide 
free-trading block by 2005 — something that 
had been agreed upon in theory ax the first 
Americas' summit in 1994 in Miami. 

But it appeared to many in South America 
that this time. Mr. Clinton came here prom- 
ising more than he could deliver. Some ana- 
lysts say the fast-track setback may mean an 
end to Mr. Clinton's vision for a Free Trade 
Association of the Americas, or at the very 
least, put the idea on the slow track for now. 

“I think it puts America at a major dis- 
advantage in negotiating free-trade agree- 
ments in the future,” said Johannes Heimian, 
an economist at the United Nations' Economic 
Commission for Latin America and the Carib- 
bean in Santiago. “There is a lack of con- 
fidence now — an enormous disillusion.” 


That, however, does not mean that the idea of 
increased U.S. trade with Latin America should 
be buried, analysis say. The United Slates will 
not need the special authority Mr. Clinton is 
seeking from Congress to win smaller trade 
concessions — many of which have helped lift 
U.S. exports to Latin America to S52 billion in 
1996, double the figure of 1990. 

“The U.S. is such a huge economy that once 
the idea of wider, trade treaties with the United 
Stales dissipates in South America, 1 think 
you'll find many smaller and creative agree- 
ments that will still mean increases in trade 
between the two regions." said Arturo Valen- 
zuela. executive director of the Center for Latin 
American Studies at Georgetown University. 

For now, however, that is little consolation to 
Chile, a country of 14 million that has eagerly 
awaited a promised free-trade agreement with 
the Unitea States for the past three years. A 
special trading relationship with the United 
States was considered a w ay of acknowledging 
die advances Chile has made toward a thriving 
free-market economy in the 1990s. 


WASHINGTON — 
President Bill Clinton's 
lawyers have interrogated 
Paula Corbin Jones under 
oath for the first time about 
her allegations that she was 
sexually harassed by Mr. 
Clinton" when he was gov- 
ernor of Arkansas. 

Ms. Jones was ques- 
tioned during a closed-door 
deposition in Little Rock, 
Arkansas, as both sides 
gather evidence for die fed- 
eral trial scheduled for 
May. but none of ihose in- 
volved would discuss the 
proceedings because of a 
gag order imposed by U.S. 
District Judge Susan 
Webber Wright. 

Judging from pretrial 
documents. Mr. Clinton's 
lawyers were interested in 
grilling her about her ver- 
sion of events in a Little 
Rock hotel suite in May 
1991. her lies to conser- 
vative groups out to dam- 
age the president and any 
possible financial motives 
she may have for pressing 
her case. (H P) 


prosecutor to examine In- 
terior Secretary Bruce Bab- 
bitt's role in a decision to 
kill an Indian casino proj- 
ect. according to law en- 
forcement officials. 

The casino project was 
rejected in 1995 by Interior 
officials in Washington 
after rival tribes of casino 
operators hired a high-pro- 
file Democratic lobbyist, 
Patrick O'Connor. He had 
influential contacts with 
White House and Demo- 
cratic Pam - officials. 

Last year, after the de- 
cision. the tribes opposing 

the permit contributed 

$230,000 to the Democrat- 
ic, Party. And since then. 
Republican senators inves- 
tigating campaign finance 
abuses have themselves in- 
vestigated the casino deal 
and suggested it was on in- 
stance in which govern- 
ment policy was made in 
return for a political dona- 
tion. 

fn an appearance on Oer. 
30 before a Senate inves- 
tigating committee. Mr. 
Babbitt dented under oath 
dial politics played a role in 
the casino decision. ( M 7 J 


Casino Probe 
Nears Babbitt 


Quote! Unquote 


WASHINGTON — 
Justice Department offi- 
cials have urged Attorney 
General Janet Reno to ex- 
tend an investigation that 
could lead to the appoint- 
ment of an independent 


President Clinton as he 
signed the spending bill for 
education: " * As much as any 
bill I have signed, as much 
as any bill the Congress has 
passed in recent years. this 
bill genuinely does fulfill 
our strategy of opportunity 
for all. responsibility from 
all. a community of all 
Americans.” iAPi 



• BRADFORD • BRISTOL 
S 


CARDIFF ■ CHEPSTOW • CHESHUNT - CHICHESTER • DERBY • EDINBURGH • GLASGOW • HEATHROW - LEEDS - LONDON • MAIDSTONE • MANCHESTER (19981 


‘W 


’■VV 






* •' ' \ 

■ • . *1^ •*•*** 


Brian K. Digga/TOr A tari Pun 


ENVOY TO VATICAN — Lindy Boggs, a former longtime Louisiana con- 
gresswoman, talking the oath of office Thursday from Vice President A1 Gore 
to become ambassador to the Vatican. -She is surrounded by family members. 


Away From Politics 


• A former Los Angeles Times executive 

has been accused of stealing $800,000 by 
billing the newspaper for free-lance articles 
that were never written. Charles Boesch, 
53, was scheduled to be arraigned Thurs- 
day. According to Deputy District Attorney 
Brent Collier. Mr. Boesch, a 34-year vet- 
eran at the Times, prepared fake invoices 
and article summaries over a four-year peri- 
od and submitted them to the Tunes’ ac- 
counting department for payment to outside 
accomplices. (AP) 

• A woman carrying septuplets has made 


it to her 30th week of pregnancy. Doctors in 
Des Moines, Iowa, say it raises hopes that 
Bobbi McCaughey’s seven babies will be 
bom healthy. . (AP) 


• The percentage of students defaulting 
on college tuition loans has declined, for 
the fifth consecutive year, the Education 
Department reported. The default rate is 
now 10.4 percent, half of what it was earlier 
this decade. • fWP) 


• Four men were drunk when they were 
killed by exhaust fumes from a running car 
in a closed garage, the police in Liberal, 
Kansas, said. Police had no idea why the 
men turned on the vehicle, but foul play was 
not suspected. (AP) 


Reprieve for Latin Refugees 

rra i rr n . • 


Congress Exempting Thousands From Deportation 

~ — tliair im-mp Ulilh im_ S* V«TV VFTU hflirt time 


By Eric Schmitt 

New flint Times Service 


their tainted image with im- 
migrants in states with large 
populations of them, such as 
California and Florida. 

While immigrant advo- 
cates generally praised the 
changes to the Illegal Immi- 
gration Reform and Irami- 


a very, very hard time,” said 
Representative Carrie Meek, 
Democrat of Florida, whose 
Miami district has a large 
Haitian population. “It's dis- 
criminatory and it's unfair.’* 
Deputy Attorney General 
Eric Holder Jr. promised Sen- 
ator Carol Moseley-Braun, 
Democrat of Illinois, that the 
Immigration and Namraliza- 




% 


WASHINGTON — Seek- 
ing to avert a possible polit- 
ical problem for Republicans, 

Congress is relaxing two 

KLKSTo uproot ^R^Tbihty Act of 
hundreds of thousands of im- 1996, they criticized law- 

mierants living in the United makers for exempting Cu- ~ — “*•- r ; : ~~~ — r~ 

migrants u ng bans, Salvadorans, Njcara- non Service would not seek to 

* agreed in the guans, Guatemalans and deport Haitians for six 

.^nfnTXvsofthis year's some East Europeans from months while Congress re- 
m «etrit AotLnds the new deportation rales but considered an exemption for 
SifroSs frora civil wars in not thousands of Haitians Haitians next year, 
of refugees from uvn who fled after amilitarv coup The two provisions are 

(pntral^ncafromswe^ tucked into spending bills that 

mg new deport fro ■ _ assumption is that the House and Senate are ex- 

imroijp-antsafrolOT have had peered ,o approve by Friday. 

generous gift handed out by 



/ 


members of Congress: auto- 
matic permanent residency. 

In another change suppor- 
ted by the House speaker. 

Newt Gingrich, Congress is al- 
lowing hundreds of thousands 
of illegal immigrants who 
hope to gain permanent visas 
to stay in the United States 
instead of having to go home 
to file their applications. 

Taken together with Con- 
gress’s decision in August to 
restore benefits to legal im- 
migrants that had been 
stripped away by the welfare 
law last year, the softened 
provisions in the immigration 
law mark a retreat by House 
and Senate Republican lead- 
ers, who ore trying to burnish 


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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14, 1997 


ASIA/PACIFIC 


FBI Agents 
Go to Pakistan 
For Evidence 
But Fear Trap 

Gmi/MkJlKOirSiBgfoMDbtMrlirs 

WASHINGTON — The FBI has sent 
a team of agents to Pakistan to gather 
evidence on the killing of four American 
oil company employees in Karachi 

Their orders are not to conduct a full- 
scale terrorism investigation, because 
Attorney General Janet Reno has not 
certified that the slaying of the four men 
and their Pakistani driver was an act of 
terrorism. 

“We just want to do everything we 
can to make sure that those responsible ' 
for this tragedy are brought to justice and 
that we work with P akistan i authorities 
in every way that is appropriate/' Ms. 
Reno said Thursday. 

She declined to comment when asked 
if the killings might have been linked to 
the murder conviction of a Pakistani 
immigrant in a Virginia court 

The agents were told to proceed cau- 
tiously. 4 ‘There is a fear' * that they might 
be in danger of falling into a trap set to 
avenge the conviction of Mir Aimal 
Kasi in fatal shootings at CIA headquar- 
ters, a government official said. 

“The fear is that the idea behind the 
shooting was to lure the FBI to Pakistan 
and attack them — that they will target 
the FBI for snatching Kasi," said die 
official, who spoke on condition that he 
not be identified by name or agency. 

FBI agents, working with CIA of- 
ficers and State Department officials, 
azrested Mr. Kasi in Pakistan five 
■ months ago after a four-and - a-half-y ear 
manh unt. They flew him to a Virginia 
jail without a formal hearing after the 
arrest, which touched off anti-American 
protests in several Pakistani cities, in- 
cluding Karachi. He was indicted under 
the name Kami, but has signed his state- 
ments Kasi. (NYT, AP) 

■ Jurors Under Armed Guard 

Jurors deciding on life or death for 
Mr. Kasi spent Wednesday night under 
armed guard. The Associated Press re- 
ported from Fairfax, Virginia. 

The judge in the murder trial decided 
Wednesday that the jury should be se- 
questered as a shield from publicity 
about the Karachi attack. No threats were 
made against the jury, said Jim Vickery, 
chief deputy sheriff for Fairfax County. 

Sequestered juries are not usual ly pro- 
tected by aimed guards. The jurors are 
allowed outside contact only under the 
supervision of a sheriff s deputy and 
deputies monitor all calls the jurors place 
or receive, Mr. Vickery said. 

Jurors soit die judge a note on Mon- 
day that expressed fear for their safety, 
said a defense attorney, Richard Goe- 
mann. The exact contents of the note 
were not disclosed. 

Mr. Kasi, 33, was found guilty of 
killing Frank Darling, 28, a Central In- 
telligence Agency communications ana- 
lyst, and Lansing Bennett, 66. a CIA 
physician, and wounding three persons 
as they waited at a traffic light outside 
CIA headquarters in Langley, Virginia, 
on Jan. 25, 1993. 

Mr. Goemonn contends thai if jurors 
are afraid, Mr. Kasi will be deprived of a 
fair trial. 

Before the trial Fairfax County spent 
$1.5 million tp improve security at the 
courthouse and adjoining police com- 
plex. Aimed policemen have been po- 
sitioned on roofs since the trial began. 


Houston Firm Shocked by Slayings # 

jd ‘Everybody in the Company Feels Vulnerable 9 After Karachi Shooting 



By Sam Howe Verhovek 

New York Times Senice 

HOUSTON — They were a roving 
team of auditors, four Houston-based 
men who spent up to half their work time 
each year checking the books at Union 
Texas Petroleum's overseas operations. 

Some, like Joel Enlow, die company's 
manager of audit projects, thrived on all 
the foreign travel to far-flung places like 
Pakistan, Kazakhstan, Tunisia and the 
North Sea; others were not so keen on 

AH* 1 four *were killed in Karachi 
Pakistan, on Wednesday morning along 
with a Pakistani driver in a hail ofbullets 
directed at their car. They were traveling 
from their hotel to the nearby offices of 
Union Texas Pakistan, where they woe 
wrapping up an auditing project of 
roughly two weeks, company officials 


said; '‘This is an incredible tragedy for 
this company. Our priority, since the call 
' came last ni g ht , is to work with the 
families involved." 

All of those lulled were longtime em- 
ir, Enlow, 


ployees of the company: Mr. 
d worked there for 


40. 


A Karachi policeman guarding the site where four Americans were slain. 


At the company's Houston headquar- 
ters. where the men were widely known, 
many employees did not learn of the 
shootings until they came to work. Many 
people were in tears, and company of- 
ficials, after setting up a counseling area 
in the cafeteria, shut down die offices 
shortly after noon as an act of mourning. 

“We don't know how to deal with 
losing employees like this," said John 
Whitmire, the chair man and chief ex- 
ecutive officer of the company, which has 
1,100 employees worldwide, more than 
half of them based in Pakistan, where it is 
the largest foreign oil producer. **I think 
probably everybody in the company feels 
vulnerable and violated." 

Carol Cox, a company spokeswoman. 


who had worked there for 14 years; . 
raimFgbu, 42, a senior auditor who i 
spent 19 yeans there; Larry Jennings, 49, 
an audit manager with 10 years at the 
company; Anwar Murza, 51, the Kara- 
chi-based driver, a 10-year Union Texas 
employee; and TVacy Ritchie, 41, a senior 
audit supervisor ana 15-year employee. 
All of the Houston-based men were mar- 
ried; Mr. Egba was the father of two 
teenage daughters, while none of the oth- 
ers had children, according to informa- 
tion provided by Union Texas officials. 

The ballings seem to have been dir- 
ected at Americans. AH four Houston- 
based employees were U.S. citizens, the 
company said, and they may have been 
further targeted as employees of an 
American company with a highly visible 
presence in Pakistan. 

The shootings tookplace one day after 
a U.S. jury convicted a Pakistani man in 
the murder of two CIA employees in 
1993. Just after the conviction, the State 
Department issued a general advisory to 
Americans in Pakistan to beware of pos- 
sible retaliatory acts. 

The company was reluctant to provide 
much personal information about the 
men, acting out of what it described as 
deference to the families. A barricade of 
orange traffic cones was erected at the 
entrance to the offices, in the Galleria 
district of Houston, and reporters were 
directed not to approach employees. 


KARACHI: Americans There Take Security Precautions After the Killings 


Mr. Whitmire held abriefing, in which 
he vowed that his company would co- 
operate with Pakistani officials in track- 
ing. down the killers. The company s 
chief financial officer, Larry Kalmtwcn, 
later appeared briefly to detail the edu- 
cationai background and spouses’ names 
of each of the deceased. He described 
them as “relatively low-key, conserva- 
tive-minded” people who bad been 
highly dedicated to the company. 

At Mr. Enlow’s home, a few miles 
away in foe Afton Oaks neighborhood of 
Houston, friends and neighbors gathered 
and offered memories of him as they 
consoled his wife, Lisa, an interior de- 
signer whom they described as both dis- 
traught and physically ill in the few hours 
after t eaming of her husband's death. 

In Missouri City, Texas, the Houston 
suburb where Mr. Egbu lived, family 
members also gathered and recalled that A 
on Tuesday night (Wednesday morning r 
in Karachi) he had called bis wife of little 
more than a year, Idera, just minutes 
before leaving foe hotel to "make sure 
she was OJC.," Mr. Egbu’s sister-in-law 
told The Associated Press. 

Union Texas, which was founded 101 
years ago as Union Sulphur Co., has 
exploration projects in Alaska and in 
several countries in foe Middle East, 
South America and Europe, but nowhere 
are its operations more extensive than in 
Pakistan, where it has about 600 em- 
ployees. 

At least one other Houston-based en- 
ergy company with operations in 
Pakistan, Coastal Corp., said Wednes- 
day that ftwonldput heightened security A 
measures into effect for its employees. * 


BRIEFLY 


Continued from Page 1 

third group, Harkal ul Ansar, which 
the State Department has declared a 
terrorist organization, blamed un- 
named groups seeking to destabilize 
Pakistan. 

But security officials said that 
members of Harkat ul Ansar pos- 
sibly carried out foe fatal shooting 
to avenge the Kasi conviction. 

The travel advisoiy also cited foe 
conviction in New York on Wed- 
nesday of Ramzi Ahmed Yousef — 
who was extradited from Pakistan 
in 1995 — in die World Trade 
Center bombing. Both convictions, 
foe State Department warned, 
4 'make Americans potential targets 
of retaliatory acts." 

About two dozen American 


businessmen checked out of luxury 
hotels early in Karachi Wednesday 
night Some had come to 
Pakistan's largest city to partic- 
ipate in a Merrill Lynch investment 
seminar, which was canceled after 
foe shooting. The brokerage firm 
also canceled a similar seminar 
scheduled for Friday in Lahore, 
capital of Punjab province. 

The American School in Kara- 
chi remained closed for a second 
day. Security at foreign consulates 
was tightened, and police estab- 
lished checkpoints around neigh- 
borhoods favored by foreigners. 

“We were told not to come to 
school today and to keep foe chil- 
dren home/' Famia Khan, an 
American who works at the school 
told The Associated Press. The em- 


bassy warned Americans in Kara- 
chi to stay indoors. Peter Gaussen, 
an embassy spokesman, said about 

2.000 Americans live in Pakistan, 
concentrated in Karachi, Lahore 
and other large cities. Another 

4.000 to 5,000 naturalized 
Pakistani- Americans have taken up 
residence in the country, he said. 

In his phone call to Mr. Clin ton. 
Mr. Shanf condemned foe killings 
and vowed his government “will 
spare no efforts to track down the 
culprits responsible for this hein- 
ous crime," according an account 
of foe conversation released by a 
government spokesman. 

Mr. Sharif also expressed “foe 
heartfelt sympathies and condo- 
lences of the people and govern- 
ment of P akistan, " Mr. Sharif ap- 


THREATS: Callers Vow to Kill Americans in Malaysia 


Continued from Page 1 

resign has raised a storm of protest 
in Malaysia. The cabinet con- 
demned foe lionbinding resolution. 
Wednesday, saying it "exceeded 
foe nouns of diplomatic engage- 
ment/’ Steps by foe Ginton ad- 
ministration to investigate a Malay- 
sian oil company's business in Iran 
also have contributed to anti-Amer- 
ican sentiment in Malaysia. 

"We don’t personally quarrel 
with American people/' Mr. Ma- 
hathir was quoted as saying. “I 
personally have many friends from 
the United States, including Jews, 
who are my friends, too.” 

A U.S. Embassy official said the 


embassy had tightened security be- 
fore a demonstration Thursday by 
the youth wing of the governing 
National Front About 100 members 
protested in front of the embassy 
over the U.S. move to investigate 
the gas venture in Iran by Fetronas, 
foe state-owned oil company, and to 
show support for Mr. Mahathir. 

The U.S. Embassy statement re- 
ferred to foe attack Wednesday in 
Karachi in which a g unman kille d 
four American oil company em- 
ployees and their Pakistani driver in 
a daylight ambush. The police said 
the killings could have been linked 
to conviction in foe United States 
on Monday of Mir AimaJ Kasi for 
the killing of two CIA employees in 


1993. Mr. Kasi is a Pakistani who 
was indicted under foe name 
Kansl 

“With foe recent conviction of 
Mir Aimal Kasi the ongoing trial 
of Ramzi Ahmed Yousef, the situ- 
ation in Iraq and today's local press 
articles on the congressional res- 
olution, Americans in Malaysia are 
encouraged to maintain a high level 
of security awareness, and to report 
any suspicious or threatening be- 
havior to foe police,” foe embassy 
said. 

Mr. Yousef was convicted on 
Wednesday by a U.S. federal jury 
of masterminding the 1993 World 
Trade Center bombing. 

(Reuters. AP. AFP) 


peared eager to emphasize his 
government’s resolve to -investi- 
gate the killing s. In 1992. foe Bush 
adminis tration threatened to de- 
clare Pakistan a terrorist state for 
aidin g separatist militants in die 
part of Kashmir controlled by In- 
dia. The threat was withdrawn a 
year later. 

Mr. Sharif seat Interior Minister 
Chaudry Shujaat Hussain to Kara- 
chi to convene a meeting of top 
security officials — including foe 
directors of civilian and military 
intelligence agencies — in a move 
to improve coordination of die 
murder investigation. 

Law enforcement sources said 
that Mr. Hussain pressured foe of- 
ficials to show progress in foe in- 
vestigation before Secretary of 
State Madeleine Albright aoives 
Sunday on foe first wo rking visitby 
a U.S. secretary of state since 1983. 
The schedule of her visit to Is- 
lamabad and foe North-West Fron- 
tier Province has not been changed 
since the killings Wednesday. 

“Obviously, it was a well- 
planned, pre m editated act of ter- 
rorism," Information Minister 
Mushahid Hussain Sayed said. 
“Whenever these acts of terrorism 
take place, it embarrasses ns, it dam- 
ages our interests. It has foe po- 
tential to damage our ties to friendly 
countries" like foe United States. 

In his meeting with security of- 
ficials, Interior Minister Hussain 
acknowledged that heightened re- 
ligous sensitivies make it difficult 
for foe government to crack down 
on fundamentalist Islamic groups, 
law enforcement sources said. 


UN Warns of Afghan Starvation 

ISLAMABAD, Pakistan — A United Nations rep- 
resentative said hoe Thursday that foe Taleban militia’s 
-four-month blockade of foe central Hazarajat region of 
Af ghanistan was poshing women, children and foe el- 
derly “to the Verge of starvation." 

“The consequences of this blockade. are among foe 
crudest things to have happened here this year," said 
Alfredo Witschi-Cestari, UN coordinator for Afghan- 
istan. “In two to three week’s time, snow will make it 
impossible to reach foe remotest parts of foe province, 
where foe needs are greatest" . 

The Taleban sealed off Hazarajat as part of its war 
against an opposition alliance in the north. ( Reuters ) 

Delay for New Thai Cabinet 

BANGKOK — The announcement of Prime Minister 
Oman Leekpai's cabinet has been delayed another day 
because of a last-minute change, sources in the Thai 
government said Thursday. 

“The audience with the king is now scheduled for 
Friday," said an official of the cabinet secretariat of the 
prime minister's office. Mr. Oman was named prime 
minister Monday and pledged to form a cabinet quickly so 
that he could get to work, to solve the nation’s worst 
economic crisis in decades. ( Reuters ) 

Envoy ‘ Hopeful ’ on Dissidents 

BEIJING — The U.S. ambassador to China, James 
Sasser, said Thursday he was ‘'optimistic" that Beijing 
would release dissidents in the next few weeks, despite the 
standoff on human rights at the summit meeting last 
month between Presidents Bill Clinton and Jiang Zemin. 

Mr. Sasser said he was still hopeful that prisoners 
would be freed, despite his disappointment that none were 
freed during Mr. Jiang’s Washington visit. (Reuters) 


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VERDICT: Mastermind of ’93 Manhattan Bombing 1$ Convicted 


Continued from Page 1 

men! warned Americans traveling 
abroad that they could be targets of 
retaliation for the verdicts. The depart- 
ment said “the potential exists for re- 
taliation by Yousefs sympathizers 
against American interests/' 

The parking garage blast on Feb. 26, 
1993, railed K> topple one of the trade 
towers — Mr. Yousef told a federal 
agent he had hoped it would — but it 
killed six people and wounded more than 
1,000 others as it destroyed a compla- 
cent feeling among many Americans 
that terrorism was something that 
happened only in distant countries. 

Prosecutors said the bombing was 
part of a much broader scheme by mil- 
itant Muslims aimed at punishing the 
United States for its support of Israel 
Sheikh Omar Abdel Rahmanand nine 
others were convicted in 1995 of con- 
spiring to “wage a war of urban ter- 
rorism” against foe United States by 
plotting to bomb the World Trade Cen- 
ter, die United Nations, tunnels leading 


into New York and other U.S. land- 
marks. 

Mr. Yousef, 29, seemed to wince, then 
dropped his bead slightly as foe verdicts 
were read. Mr. Ismoil, 26, displayed no 
emotion. The two defendants fled the 
United States by plane foe night of the 
bombing. Mr. Yousef was captured in 
Pakistan in 1995, the same year Mr. 
Ismoil was detained in Jordan. 

The key testimony in the trial was that 
of a Secret Service agent, Brian Parr, who 
said Mr. Yousef confessed of his direct 
role in the bomb plot, his motives and how 
he had failed to kill as many people ad he 
had planned. Mr. Parr said foe confession 
came during a conversation he bad with 
Mr. Yousef on a flight from Pakistan to 
foe United Stales after his arresr. 

“He related to us that during World 
War n the Americans had dropped the 
atomic bombs on the cities of Hiroshima 
and Nagasaki killing 250,000 civilians, 
and he said that the Americans would 
realize if they suffered those types of' 
casualties that they were at war, Mr. 
Parr testified. 


During the trial prosecutors called 
more than 100 witnesses and introduced 
hundreds of exhibits to prove that Mr. 
Yousef came to foe United Slates in 
1992 solely to bomb a landmark and 
scare Americans into shunning Israel. 

Mr. Yousefs attorney, Roy Kulcsar, 
tried to convince jurors that Mr. Parr was 
lying when he said that his client con- 
fessed. white insisting that foe rest of the 
government’s case was circumstantial. 

Mr. Yousef represented himself last 
year when he was convicted of conspiracy 
for killing a Japanese man with a bomb he 
put on a plane in December 1994, and for 
plotting to kill 4,000 Americans by bomb- 
ing a dozen airliners over the Far East He 
has not yet been sentenced. 

James Kails trom, head of foe FBI 
field office in Manhattan, said after foe 
latest trial that the World Trade Center 
bombings had changed the way law en- 
forcement agencies prepared for pos- 
sible terrorist attack. He noted that city 
and federal officials had rehearsed just 
last weekend in New York for a possible 
terrorist nerve gas attack. 


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China to Hold Security Talks 
With Japan and South Korea 


Return 

BEUING — President Ji- 
ang Zemin will hold security 
talks with the leadersof Japan, 
South Korea and Southeast 
Asian nations in December, a 
Chinese Foreign Ministry 
spokesman said Thursday. 

The spokesman, Shen 
Guofang, gave no details of 
what appeared likely to be an 
informal summit meeting 
among East Asian powers at a 
time of intense diplomatic ac- 
tivity in foe region. 

The Association of South 
East Asian Nations will hold 
its “commemorative summit” 
in Malaysia in December to 
celebrate-its 30th anniversaiy. 

Leaders of South Korea. Ja- 
pan and China will attend the 
Malaysian, gathering, which' 
will be the first time so many 
East Asian leaders meet with- 
out Western participation. 


Mr. Shen said Mr. Jiang 
talks with leaders of Japa 
South Korea and Soufoea 
Asia on “maintaining regio 
al peace and security/ ' wou 
be held in December, but d 
dined to provide details. 

His comments follow 
flurry of diplomatic exchang 
over the past several vverf 
including summit meetin 
between China and the Uniti 
States, China and Russia, ai 
Russia and Japan. 

'Mr. Shen also indicab 
that China was ready to e 
pand its security dialogi 
with Japan. Russia and tl 
United States. 

He was alluding to a pr 
'sal made by Yasuhiro N 
sone, the former Japane 
prime minister, to Prime m; 
ster Li Peng in Tokyo < 
Wednesday that China enga< 
in four-way security talks 



















INTERNATIONAL HERALD TRIBUNE. FRIDAY, NOVEMBER 14, 1997 


RAGE 3 


v 


EUROPE 


Tsk! Tsk! Late-Night TV Sex-Talk Show Leaves Russians Unabashed 


By Alessandra Stanley 

Nc *' York Times Senh v 

MOSCOW — In a garish yellow and 
purple television studio, Vladislav. 19 . 
was discussing his frustration over still 
being a virgin. 

He told the studio audience how out- 
raged his mother became when he tried 
to explain to her some of the more in- 
timate aspects of the problem. “But in 
my opinion," he said defiantly, “there 
should be no secrets in the family.” 


Or, so it would seem, in the country. 

"About It" is a Russian talk show 
about sex, and the only coy thing about it 
is its title. Guests openly and explicitly 
discuss frigidity, group sex. sadomas- 
ochism, oral sex and masturbation, top- 
ics that until very recently were never 
discussed publicly at all. 

Americon-styie talk shows and trash 
TV are not new in Russia. One network 
offers a weekly late-night program on 
which, for example, viewers are shown 
graphic close-up videotapes of surgery. 


But never has there been such an open, 
and single-minded, discussion of sex. 

“Abour It" is a reflection of deep 
changes in Russian society, but it is also 
a vivid example of how Russian tele- 
vision is stepping ahead of cultural 
trends in a race to produce Weslern-slyle 
programming. : - 

The weekly late-night show is the talk 
of Russia, mainly because its frank dis- 
cussion and jazzy, irreverent style — 
and black female host — arc innovations 
in a culture that has not yet fully shaken 



MkhUL'l 1 | rt».mRrtiur' 


off seven decades of Soviet puritanism. 

For one thing, the freedom that flour- 
ishes on the set does not always flow 
beyond the studio. At least two par- 
ticipants were dismissed from their jobs 
after appearing on “About ft.” 

Russia has become far more sexually 
permissive since the Soviet Union col- 
lapsed in 1991, but silence and ignor- 
ance are still ingrained. 

Abortion remains one of the most 
common methods of birth control in 
Russia. An AIDS epidemic is sweeping 
the country. Syphilis rates In Russia are 
100 times those elsewhere in Europe. 

“We don’t have a culture of going to 
psychologists, therapists or support 
groups." said the show’s host, Yelena 
Khanga. “This is the first time ordinary 
people have a chance to really talk about 
uncomfortable issues." 

Miss Khanga, 35, is also a break- 
through on Russian television. A former 
reporter at The Moscow News, she is the 
granddaughter of a black American 


Communist who fled segregation in the 
1930s with his Polish-bom wife. Their 
daughter. Miss Khanga 1 s mother, mar- 
ried an African studying in Moscow. 

Miss Khanga wrote a book, “Soul to 
Soul," about her experiences growing 
up black in the Soviet intelligentsia. She 
now lives in New York City and was 
studying for a master’s at the New York 
University School of Social Work when 
she was recruited for the job. 

“ft’s an exotic program, and we 
needed an exotic host," said Leonid 
Parfyonov, executive producer of NTV. 
Russia's largest privately owned net- 
work. He said he figured that blacks had 
a stronger sexual image in Russia, but 
added that he was motivated mostly by 
social justice. 

But when Miss Khanga arrived for 
rehearsals, the show’s stylist took her to 
be fined for blue contact lenses and a 
blond wig. “We didn’t want to go with 
an Angela Davis, Afro-American 
style," Mr. Parfyonov said. “We had to 


make a step toward the viewers. 

Miss Khanga balked at the contact 
lenses, but went along with the wig. 

She still lives in New York, com- 
muting once every two months to tape 
shows. She said that when her mother 
first heard about the show, she called and 
said, “Why didn’t you tell me it was 
about sex?” , 

Miss Khanga said that after she re- 
torted, “How come you didn’t tell me 
about sex 15 years ago?" her mother 
replied, “Who knew you would ever 

need it?" , 

A panel of experts takes part in each 
show, but Miss Khanga admits that she 
has no background as a sex therapist. 

There have been many complaints 
from viewers. One man recently 
threatened to sue the station because he 
felt the discussion on sadomasochism 
was an “insult to Russian manhood. 
But ir is the program's lighthearted, 
show-biz approach to sex that appeals to 
those who volunteer to take part. 


Yeltsin Reformer Is Linked to Book Scandal 


Rv Twill Williimc Chubais's removal is in the hands of The more than $500,000 paid for the 

ly'TT President Boris Yeltsin, and Mr. Yeltsin book raised eyebrows because it would 

— has repeatedly expressed confidence in take hefty sales to recoup it. 

MOSCOW — A new dispute swirled his team of “young reformers.” Mr. The source of the funding is likely to 




‘I KNOW NOTHING' — Chancellor Helmut Kohl telling lawmakers Thursday that he hadn’t known in 
advance of a 1994 sting operation in which smugglers carried plutonium on a commercial flight to Munich. 


top free- market reformer in Russia, 
stemming from allegations that he and 
five associates received money for a yet- 
unpublished book from a leading banker 
with major interest in the country's pri- 
vatization sweepstakes. 

The revelations are die latest scandal 
to erupt over Mr. Chubais’s handling of 
Russia’s economy, in particular sale of 
state properties. Critics and losers in 
recent bidding allege that Mr. Chubais 
plays favorites. At issue now is whether 
Mr! Chubais is simply corrupt. 

Whether the outcry will force Mr. 


bankers, who credit him with stabilizing 
the economy and setting the stage for 
future growth. 

Parliament voted unanimously Thurs- 
day for an investigation by the country’s 
prosecutor-general . 

The dispute erupted when a Russian 
journalist reported that Mr. Chubais and 
the others were paid $90,000 each to 
write a book about the history of pri- 
vatization since 1991. Mr. Chubais has 
pushed to sell off state-owned compa- 
nies, many of which have been sold 
cheaply to Yeltsin supporters. 


publishing house, which bought the 
book, is about 50 percent-owned by Un- 
eximbank. The bank, headed by a former 
deputy minister, Victor Potanin, has 
bought lucrative state property. 

Uneximbank’s recent purchase of the 
Svyazinvest telecommunications com- 
pany angered rival bidders. Uneximbank 
and a consortium that included the fin- 
ancier George Soros won 25 percent of 
the company with a bid of $ l .9 billion. A 
losing group alleges that the deal was 
fixed and that Mr. Potanin has become a 
paying client of Mr. Chubais’s. 


•. 5 » 





Diana Paparazzi ‘Unbelievable 9 


Rearers 

LONDON — The first person to arrive at 
the scene of the car crash that killed Diana, 
Princess of Wales, said that the behavior of 
photographers there was “unbelievable" and 
iliai “the cameras were going like machine 
guns." 

In the interview with the Guardian news- 
paper, Stephane Dannon. 32. said he was the 
motorcycle driver for a Gamma photographer. 
Romuald Rat. on the night of the Paris car 
crash Aug. 31. 

He said he and Mr. Rat were with other 


but “once ii had iumed into the expressway, it 
just took off •— almost supersonic." 

Mr. Darmon and Mr. Rat were too far 
.behind to hear the crash in an underpass, but 
“we were the first to get there — the in- 
vestigating magistrate says we arrived 30 
seconds after the crash." Mr. Darmon said. 

“The cur wa.s almost facing us. with its 
hood in the wall." Mr. Darmon said. “I drove 
up to it and Romuald go! off. The others were 
arriving." 


Mr. Dannon said he drove on a little farther, 
to the exit of the tunnel. 

“The photographers lined up on the right- 
hand side of the wreck," he said. “All the 
bodies were in the car. The underpass was 
white with flashlights. 

"The cameras were going like machine 
guns. It was so dazzling that, for a while from 
my vantage point at the exit of the tunnel, I 
could not see the Mercedes." 

He said he was too frightened to move, but 
that Mr. Rat did open the door of the car to try 
to help the victims because he has a first-aid 
certificate. 

The police arrested Mr. Dannon and six 
photographers, placing them under formal 
investigation on charges of manslaughter and 
failing to help accident victims. 

Last Friday, a Paris court rejected an at- 
tempt by the seven to have passages about 
them cut from a book written about the death 
of Diana. They had asked the court to take 
action against the book. “They Killed Her.” 
because they feared it would prejudice their 
own case. 

The court ruled that the book, by Madeleine 
Chapsal, did not directly implicate them. 


BRIEFLY 


EU Ambassadors Set 
For Return to Iran 

BRUSSELS — EU ambassadors to Iran, 
withdrawn in Apnl after the Islamic regime 
was implicated in terrorism by a German 
court, will return in two groups between 
now and Nov. 21. the European Union 
announced Thursday. 

The French and German ambassadors will 
be ihe last two to arrive, a statement from the 
EU’s Luxembourg presidency said. 

“After the election of the new Iranian 
president and the formation of a new gov- 
ernment. the moment has come to resolve 
ihe problem of ihe return of ambassadors. ** 
the statement said. 

In light of ihis. Luxembourg had un- 
dertaken contacts with Iran to allow a res- 
toration of normal diplomatic relations “in 
the interests of bosh parties.” 

Iran confirmed that ii had readied a set- 
tlement with the European Union to allow the 
return of the envoys. The Foreign Ministry 
said Iran had “agreed u> the arrangement 
because of positive developments in Europe 
with respect to Iran. ' ' (AFP i 

EU Transport Chief 
Sees Traffic Surge 

BRUSSELS — The EU transportation 
office said Thursday that the amount of 
freight hauled through the European Union 
wrould soar by 70 percent in the next 25 
vears — most of it by road — ;u\d ear traffic 
would rise bv 40 percent. 

The Eli transportation commissioner. 
Neil Kinnock, said that unless EU gov- 
ernments rethought freight transport, Euro- 
peans could expect ' ‘massive increases in 
road congestion and in “pollution in urban 

areas.” ...... 

Mr. Kinnock also cited inefficiencies in 
freight hauling, with too many tracks being 
driven emptv and cargo trains averaging 
only 16 kilometers an hour *10 miles ;m 
hour). He called on European governments 
to make better use of railroads and shipping 
and to further integrate their road and rail 
networks. (API 

French Fishermen 
Attack Belgian Boat 

BRUSSELS — French fishermen at- 
tacked a Belgian trawler inside French ter- 
ritorial waters in the English Chaiuiel on 
Thursday, according to French officials and 


a Belgian fishing vessel owners' organi- 
zation. French crew members hurled rocks 
and fired flares at the Belgian trawler, 
smashing windows, and threw nets over the 
vessel's propeller to block it the boat own- 
ers' association. Rederscentrale. said. 

French officials said five French boats 
preparing to haul in their nets had caught the 
Belgian vessel, identified as die Mar B. 
inside France's 12-mile territorial limit. 

They surrounded the Belgian vessel to 
prevent it from fleeing. There were no in- 
juries, and an investigation of the incident 
had been opened, officials said, i Reuters i 

Bonn Assails Greece 
And Italy Over Kurds 

BONN — Greece and Italy are not doing 
enough to prevent a stream of Kurdisn 
refugees from heading toward Germany, 
the German Interior Ministry said Thurs- 
day. 

Kurt Schelter, a senior Interior Ministry 
official, warned that Greece’s failure to 
either process the Kurdish refugees or turn 
them back could harm its chance for entry 
into a pact of European nations eliminating 
border controls between members. Italy 
already belongs. 

Greece is believed to be the first point of 
entry to the European Union for Kurds 
fleeing northern Iraq via Turkey, and is 
required under existing agreements to 
either process asylum applications or turn 
the refugees back. 

Half of Ihe 3.000 Iraqis seeking asylum 
in Germany in the first eight months of the 
year were found near the French border. Mr. 
Schelter said this supported Germany’s 
contention that they were traveling through 
Greece, Italy and then France. " (APi 

Russian Parliament 
Delays Budget Debate 

MOSCOW — The lower house of the 
Russian Parliament postponed debate 
Thursday on the I99S budget until Wed- 
nesday, the State Duma speaker, Gennadi 
Seleznyov, announced. 

The first reading had been due io begin 
Thursday, but the house spent the day de- 
bating tax bills that the government' had 
presented as essential underpinnings for the 
budget. Several of these bills were rejected 
or withdrawn. 

Mr. Seleznyov, a Communist, added that 
if the budget debate could not lake place 
next Wednesday, it could be held the fol- 
lowing day. (Reuters) 



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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14, 1997 


INTERNATIONAL 


Shin Bet Agent Incited Rabin Killer 

Secret Service Admits It Could Not Control Rightist Informer 


The Associated Press 

^'JERUSALEM — An informer for the 
V- u ^ el s ® cur *ty service instigated 
' Y itzhak Rabin’s eventual assassin to vi- 
olence and never informed his handlers 
‘mat the youth was bragging he would 
jull the prime minister, according to a 

■ secret report published Thursday. 

Seven pages of excerpts from the re- 
°port, written by an inquiry commission 
‘ several months after the November 1995 
assassination, were published to dispel 
^persistent rumors that the Shin Bet knew 
1 in advance of the assassination and was 
r involved in a conspiracy. 

The publication of the report promp- 
ted the Shin Bet chief. Ami Ayalon, to 
■issue a rare public statement saying the 
Organization “will never forget” its fail- 
ure to protect Mr. Rabin and was doing 
•Its best to “leam all the lessons.” 

Most of the excerpts released dealt 
Vith Avishai Raviv, a Jewish extremist 
who became an informer for the Shin Bet 

* in 1987 and has in recent weeks been at 

* "the center of public debate over who was 
’-to blame for the incendiary atmosphere 

■ that led to the killing. 

The report described Mr. Raviv as a 
troublesome agent who was not always 
forthcoming with his handlers, and said 
it was “astonishing” that he did not tell 
them his friend Yigal Amir, the eventual 
assassin, was bragging that he would kill 


Mr. Rabin. Mr. Raviv himself told Mr. 
Amir that religious law permitted the 
killing of Mr. Rabin, the report said. 

“Avisbai Raviv bitterly attacked the 
prime minister and said the judgment of 
an oppressor applied to him and that it is 
therefore permissible to attack him," it 
said. 

Prime Minister Benjamin Netanyahu 
reportedly was eager to publish the re- 
port, and his supporters view it as ev- 
idence countering accusations that the 
political right created the divisive at- 
mosphere that led to the assassination. 

In his nine years as an informer. Mr. 
Raviv engaged in acts of violence and 
provocation to increase his credibility 
with his peers, the report said. In the 
West Bank town of Hebron, he would 
slash tires of Arab-owned cars and beat 
up Palestinians, it said. 

“His supervision by the Shin Bet was 
ineffectual, and in most cases they 
learned about what happened only after 
the event, yet continued to make do with 
warnings,” the report said. 

In his statement, Mr. Ayalon defen- 
ded the use of Mr. Raviv, saying that the 
agency “must walk a fine line between 
the essential nature of the information 
and the behavior” of the informer. 
“Today, all the energy is spent trying to 
find the right paxh.” 

At some stage, Mr. Raviv became best 


friends with Mr. Amir, who moved in the 
same extremist circles, the report said. 

In the months preceding the assas- 
sination, Mr. Amir kept telling his 
friends he would kill the prime minister, 
according to testimony heard by the in- 
quiry commission. 

It was therefore “astonishing that in 
his reports on Yigal Amir,” Mr. Raviv 
“did not mention, not even with a bint, 
the well-known declarations of Amir 
about his intention to attack Rabin, 
which Amir made several times to others 
in his circle of friends," the report said. 

■ Rabins Son Gets Death Threat 

Mr. Rabin’s son. Yuval, received a 
death threat as he attended a memorial 
ceremony on the second anniversary of 
his father's assassination. The Associ- 
ated Press reported Thursday, quoting a 
friend of Yuval ’s. 

The threat was made Wednesday in a 
call to Yuval Rabin's mobile phone, 
according to Tal Silberstein, a leader of 
the Dor Shalom peace group, which the 
younger Rabin founded after the as- 
sassination. 

The death threat was recorded on 
Yuval Rabin's voice mail and was played 
on Israel radio Thursday. 

The caller said, “If you follow in your 
father’s footsteps, you will end up as he 
did." 


In Deathbed Plea, 
Philosopher Asked 
Partition of Israel 


Reuters 

LONDON — In a deathbed 
statement. Sir Isaiah Berlin called 
for the partition of Israel as being 
“the only correct solution” for Is- 
rael i-Palestinian problems, a Brit- 
ish newspaper repeated Thursday. 

The appeal was disclosed by Sir 
Isaiah's literary trustees to coincide 
with a visit to Britain of Prime 
Minister Benjamin Netanyahu of 
Israel for talks on the stalled Middle 
East peace process, the Guardian 
newspaper said. 

Sir Isaiah, the philosopher who 
died in Oxford on Nov. 5 at the age 
of 88, was deeply worried by Mr. 
Netanyahu’s hard-line stance on 
the Palestinian question. 

The statement was dictated by 
Sir Isaiah to his wife the day he 
died. It said in part: “Since both 
sides begin with a claim of total 
possession of Palestine as their his- 
torical right, and since neither 
claim can be accepted within the 
re alms of realism or without grave 
injustice, it is plain that a com- 
promise — i.e. partition — is the 
only correct solution.” 


Israeli Foreign Minister # 
To Shun Arab Conference 


CnupUnl M OvSuSFnm Dapunltn 

JERUSALEM — The Israeli gov- 
ernment announced Thursday that the 
foreign minister. David Levy, will not 
lead its delegation to an Arab-lsraeli 
economic conference in Doha, Qatar, 
that starts Sunday. 

The Israeli delegation will instead be 
led by Industry and Trade Minister 
Natan Sharansky, the Foreign Ministry 
said, adding dial he will be accompanied 
by (behead of the Bank of Israel. Yacov 
Frenkel; representatives of several min- 
istries, and about 30 business leaders. 

The ministry said Mr. Levy would 
stay home “because, given the eco- 
nomic character of the conference, it is 
best that the head of the delegation be a 
top economic official.” 

Mr. Levy attended last year’s meet- 
l, in Cairo. 

ie annual conference was started 
four years ago. in the first flush of 
enthusiasm at Israel's interim peace 
agreement with the Palestinians. 

But few projects have been com- 
pleted, and most Arab countries are 
refusing to sit with the Israelis, much 
less consider integrating their invest- 
ment into their economies. 

Israeli officials had said earlier that 
Mr. Levy would probably not partic- 
ipate in the conference because Arab 




states were either boycotting the fonrrn 
on Nov. 16-18 or sending lower-lew 
delegations without foreign ministers- 
Secretary of State Madeleine Al- 
bright will attend the meeting ana 
Washington had pressed Prime M mister 
Benjamin Netanyahu to send Mr- Lc v 5' 
as a sign of Israel’s interest in pursuing 
the peace process. , 

At the fust two meetings, ui Cas- 
ablanca in 1994 and Amman in 19 vj- 
Israel was represented by then- Prime 
Minis ter Yitzhak Rabin and his foreign 
minister. Shimon Peres. 

Aside from Qatar, only Jordan, 
Kuwait, Oman and Yemen have said they 
will participate in this year’s forum. 

Earlier Thursday, the Arab Leagii e 
announced that it was joining the boy- 
cott. The secretary of the Arab League. 
General Esmat Abdel Meguid, said at * 
the organization’s headquarters in t 
C airo: “This decision is taken out of 
consideration for the discouraging de- 
velopments that surround the Middle 
East peace process and the dangers 
threatening it because of the policies of 
the Israeli government. ’ ’ 

The peace process has been stalled 
since March, when Mr. Netanyahu 
ordered ground broken for a new Jewish 
settlement on disputed land in Jeru- 
salem. (AFP. Reuters l 


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Bob Jones Jr. Dies; 
Bible College Head 


By William H. Honan 

Ntw York Times Service 


The Reverend Bob Jones 
Jr., 86, chancellor and board 
chairman of Bob Jones Uni- 
versity in Greenville. South 
Carolina, who in Ate late 
1970s forfeited its federal tax 
exemption rather than permit 
students of different races to 
date or marry, died of cancer 
Wednesday in Greenville. 

Bob Jones University, a 
Christian fundamentalist in- 
stitution, was founded in 
1927 by Mr. Jones’s father, 
the Reverend Bob Jones Sr., 
an Alabama farm boy who 
became a popular evangelist 
and prohibitionist in the 
South at the turn of the cen- 
tury. The university, then as 
now, “stands without apo- 
logy for the old-time religion 
and the absolute authority of 
the Bible ” in the words of the 
founder, who died in 1968. 

Mr. Jones was actingpres- 
ident from 1932 to 1947, and 
president from the time of the 
university's move to Green- 
ville in 1947 until 1971, when 
he passed the position on to 
his eldest son. Bob Jones 3d. 
Mr. Jones then became chan- 
cellor-chairman, which re- 
lieved him of day-to-day re- 
sponsibilities and gave him 
the opportunity to preach. 

In the 1970s Bob Jones 
University's federal tax-ex- 
empt status was challenged as 
a result of a 1970 IRS policy 
that stopped granting such 
status to private schools that 
practiced discrimination. 

Mr. Jones defended the 
university’s policy against 
dating and marriage by 
couples of different races by 
maintaining that it was based 
on a literal interpretation of 
the Bible and therefore came 
under the constitutional pro- 
tection of religious freedom. 

In the Book of Genesis, he 
declared, the Bible tells the 
story of (he Tower of Babel, 
which describes how God di- 
vided the speech of the tower 
builders into many languages 


so that humankind would not 
become overly enamored of 
its material accomplishments 
and neglect its duty to God. 

So it is a sin, Mr. Jones 
asserted, to oppose that divine 
act by permitting interracial 
dating. Many Christian fun- 
damentalists do not agree 
with that view, but Mr. Jones 
drew a following and became 
widely recognized as a cham- 
pion of racial segregation. 

In 1983, the U.S. Supreme 
Court ruled that there was no « 
question that the IRS was cor- * 
reel in 1970, when it stopped 
granting tax-exempt status to 
discriminatory colleges. 

The court’s decision was a 
repudiation of the adminis- 
tration’s legal position. The 
vote was 8 to 1, with Justice 
William Rehnquist casting 
the dissenting vote. 

Interracial dating is still 
banned at Bob Jones Uni- 
versity. and the college has not 
regained its tax exemption. 

Margaret Harshaw, 88; 
Star of the Metropolitan 

NEW YORK (NYT) — 
Margaret Harshaw. 88. who 
was best known as a Wag- 
nerian singer but whose per- 
formances in Mozart and 
Verdi operas were also highly 
regarded, died Friday in 
Libertyvilie, Illinois. 

She sang at the Metropol- 
itan Opera for 22 seasons, v 
from November 1942. when * 
she made her debut as the 
Second Nora in Wagner's 
“Die Goetteidaemmerung.” 
until March 1964, when she 
gave her final performance as 
Ortud in “Lohengrin." 

Because she spent the first 
nine years of her Met career 
as a mezzo soprano and then 
switched to soprano roles, she 
sang more Wagnerian roles 
than any other singer in the 
Met's history. 

Hideo Edo, 94, who was 
credited with constructing Ja- 
pan’s first high-rise building, f 
died of respiratory failure in 
Tokyo on Thursday. (AP ) 


BRIEFLY 


Statehood in ’ 99 , Arafat Says 

GAZA — The Palestinians will declare statehood in 
1 999 — unilateral ly if necessary — at the end of a five-year 
interim period of autonomy, Yasser Arafat said *niursday. 

Prime Minister Benjamin Netanyahu of Israel has 
warned that he would break off peace talks with the 
Palestinians if they declared statehood before the two 
sides had reached a peace agreement. 

The interim period began in May 1994 with the start of 
limited Palestinian self-rule in the West Bank and Gaza 
Strip. Israel and the Palestinians are committed ro ne- 
gotiating a permanent agreement by May 1 999. {AP) 

Disease Threat in Somalia 

NAIROBI (Reuters) — The death toll from floods in 
Somalia has topped 500. and relief workers are worried- 
about outbreaks of cholera and other diseases in the next 
several weeks, an aid agency said Thursday. 

The United Nations and the Organization of African 
Unity saythat as many as 800,000 people live in areas of 
-l " ■■ • j floods. 



Y - 

V • ’ ' 


T-*V 


southern Somalia affected by the 


(Reuters i 


Mexican Drug War Disputed 

WASHINGTON — President Ernesto Zedillo began his 
first visit to Washington in two yearsTh ursday as divisions 
arose between President Bill Clinton’s administration and 
Congress over the way Mexico is fighting drug 

TTic administration’s fop drug adviser, retired General 
Barry McCaffrey, has credited Mexico with "phenom 
enal” advances in the drug war in comments aimcdTr 
Senators Paul Coverdell, Republican of Georgia mH 
Dianne Feinstein, Democrat of California, who contend 
that Mexico's performance is srill subpar. 


f: 






a 



INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14, 1997 


PAGET 


INTERNATIONAL 


I Iraq Crisis Wrecks American Dream of Forming an Arab Coalition for Peace 


-.asF. 


a 

jn-;-: V 


By Douglas Jehl 

New York Times Sen-ice 




AMMAN. Jordan — In the heady aftermath of 
the Gulf War of 1991, American officials 
dreamed of transforming the Arab coalition that 
helped to oust Iraq from Kuwait into a new Arab 
coalition for peace. 

They envisioned an Arab world no longer 
unified by romantic notions of solidarity, but 
riven instead by self-interest with warmongers 
like Iraq to be punished into submission while 
peacemakers like .Egypt and Syria reaped re- 
wards for good conduct 

But after seven years of dashed expectations, 
what is taking shape instead has the trappings- of 
an Arab revolt. 

The same Arab governments that rushed 
troops to the Saudi desert now stand united in 
opposition to the use of military might in the 
current confrontation between the United States 
and Iraq over Baghdad's blocking of United 
Nations arms inspectors. 

As new questions are raised about the next stage 
in the crisis, some of America's Gulf War allies 
are echoing Iraqi calls for an end to economic 
sanctions against the Baghdad government. 

And, even more tellingly, an American- 
backed economic conference that Secretary of 
State Madeleine Albright is to attend this week- 


end in Doha, Qatar, now appears likely to include 
no more than a smattering of Arab participants. 
Among those who have refused Qatar's invi- 
tation to join an Israeli delegation around the 
table are Egypt and Saudi Arabia, the United 
States' most important allies in the region. 

As a result, the year's most important gath- 
ering of Arab officials will now take place not in 
Doha, but at an Islamic summit meeting next 
month in Tehran, to which neither the United 
States nor Israel will be invited. 

Behind the renewed sense of Arab solidarity 
■ toward Iraq and 

NEWS ANALYSIS against the United 

States has been a 

feeling that in the relationship between Wash- 
ington and Arab capitals since the Gulf War. 
basic understandings have been broken. 

While the United States assured its allies that 
the isolation of Iraq would change Baghdad's 
behavior, the only tangible effect of the campaign 
has been the widespread suffering of the Iraqi 
people, according to this view. 

And while the United States, from the time of 
the Middle East peace conference of 1991, has 
promised an evenhanded effort in promoting a 
broader Arab- Israeli settlement, its many Arab 
critics say it has failed to do so in practice. 

Instead, according to this view, the Clinton 
administration has simply acquiesced in a back- 


sliding by Prime Minister Benjamin Netanyahu 
of Israel that has sent Arab- Israeli relations plum* 
meting. 

“A consensus within the Arab world now is 
that American policy coward Iraq has been 
overkill and that the Iraqi people have needlessly 
suffered," said Mohammed Sayed Saeed. a 
policy analyst at the A1 Ahram Center for Stra- 
tegic Studies in Cairo. "At the same time, Arabs 
believe that they have been treated as inferiors by 
the United States while Israel, which went back 
on its peace agreements, enjoys complete Amer- 
ican protection." 

Such thinking- has been bubbling for many 
months in the Arab press and in the comments of 
some Arab officials. But the combination of the 
showdown with Iraq and a buildup to the eco- 
nomic conference that included last-minute 
American efforts to rally Arab support has begun 
to reveal just how deeply the resentment is felt 

Even President Hosni Mubarak of Egypt, 
whose government acted as host for the previous 
economic conference, in November 1996, de- 
clared that his government would stay away this 
time because diplomatic efforts had produced 
nothing of substance and "because the Israeli 
government never carries out its promises." 

Of the Arab states that sent troops into battle 
against Iraq, only Syria has openly sided with the 
Baghdad government in the current crisis. Find- 


ing that its participation in die Gulf War coalition 
led only to stalemate in its effort to reclaim - 
territory conquered by Israel and secure a lasting 
peace, it has made a major effort in recent months 
to improve relations with President Saddam Hus- 
sein’s regime, even opening die border between 
the two countries for the first time in IS years. 

Even Kuwait; which Iraq invaded and annexed 
in 1990, has avoided any hint of provocation. On 
Monday, the government, normally outspoken in 
support for tough measures against Baghdad, 
said die crisis "between Iraq and (he Security 
Council is an issue related to them and Kuwait 
has nothing to do with it." 

Indeed, the absence of any threat to another 
Arab country by Iraq in the current crisis has only 
added to Arab reluctance to oppose Baghdad. 

The Arab League, which sent troops to Saudi 
Arabia in 1990 eight days after the invasion of 
Kuwait, has in this case declared its "complete 
rejection" of military action even if Iraq carries 
out its threat to expel American weapons in- 
spectors. The United Arab Emirates, an impor- 
tant Gulf War participant that has since called for 
a lifting of sanctions against Iraq, has warned 
through an official government newspaper that 
an attack on Iraq, "the defeated and the para- 
lyzed," could be interpreted only as “an attack 
against the whole Arab nation." 

And while Egypt, which holds a rotating seat 


on the Security Council, voted in favor of . 
nesday’s measure tightening sanctions agarna 
Iraq. Mr. Mubarak has publicly express^.^*- 
hope that “there will be no military opera ^ 
against Iraq.” while the semi-official newsfwp^ 
A1 Ahram, in an editorial earlier 
endorsed the broad outline.of Iraq s ] 

Dismiss ing.as untrue the long-standing AniCT' 
ican contention that Iraq has concealed 
of a continuing weapons program, menewspapo 
accused American inspectors instead ot co**" 
triving disputes over extremely trivial details so 
hs to prevent the UN inspection team from de- 
claring its mission accomplished." . 

The idea of ‘ ‘Arab solickrity' ’ has been floated 
often in recent decades, bur often as little more 
than an empty slogan that fails to take into 
account rivalries of interest and ambition. 

But its role has also sometimes been under- 
estimated. Because of a shared culture and lan- 
guage, a sense of kinship among Arab peoples is 
felt much more deeply than that which exists, tor 
example, between Americans and Europeans, 
and it has contributed to popular outrage in every 
Arab capital at the plight of Iraqis at the hands ot 
the United States. 

In an important sense, the resistance now being 
shown by Arab leaders toward the United States 
amounts to stepping back in line with a public 
opinion they hadpreviously been willing to flout 







U.S. Reinforces Air Base 
In Turkey to Curb Flights 
By Iraq in Exclusion Zone 


By Kelly Couturier 

Washington Post Service 


ANKARA — The United States has 
beefed up the allied air force based in 
Turkey that controls the exclusion zone 
in northern Iraq, responding to Increased 
violations by Iraqi aircraft, a senior 
Western official said. 

Over the last week and a half, four F- 
16 fighters and five KC-13S tankers 
have arrived at Incirlik Air Base near 
Adana in southern Ttirkey. 

The official said the increase in the 
allied force here is not related to the 
escalating tension between Washington 
and Baghdad over United Nations’ arms 
inspections in Iraq. The move, he said, 
was designed to send the message to 
Baghdad that “we are not letting our 
guard down." 

Iraqi violations of the zone have been 
increasing in recent weeks, including 
two incidents last Sunday, the official 

IRAQ: 

Confrontation Builds 

Continued from Page 1 

prohibited weapons. Inspectors have 
been especially concerned with Iraq’s 
ability to make biological arms, which 
can be produced quickly and employed 
with simple crop-duster planes as well as 
missiles. 

“Our skeleton staff will be running 
our machines," Mr. Butler said. “Some 
of those include screens on the receiving 
end of remote cameras. 

“But 1 would be misleading you if I 
thought that gave us any confidence. The 
fact is that every day that has passed since 
the 29 October announcements by Iraq 
has harmed our monitoring effort, and 
certainly the absence of inspections has 
been a matter of most serious concern." 

“Every day lost makes the circum- 
stances worse," he said. "And of course 
when we leave tomorrow, those prob- 
lems will simply grow." 


said, prompting the U.S.-British-Turk- 
ish force based at Incirlik to begin a 
“more rigorous enforcement," includ- 
inglonger daily patrols. 

The official said Iraqi planes peri- 
odically have violated the zone, demarc- 
ated by the 36th Parallel, since it was set 
up in 1991 to prevent Iraqi air attacks on 
the bonier area's rebellious Kurdish in- 
habitants. The violations apparently are 
attempts by the government of President 
Saddam Hussein to test the allied force's 
response, he added, but the planes usu- 
ally turn back quickly after being spotted 
by allied aircraft. 

A U.S. F-16 patrolling the north in 
1993 downed an Iraqi MiG-23 that U.S. 
officials, said had flown two nautical 
miles into the exclusion zone. 

The Iraqi foreign minister, Mo- 
hammed Said Sahhaf, chained in Bagh- 
dad on Wednesday that U.S. military 
planes have violated Iraq's airspace in 
both the northern and southern regions 
of the country. He warned that 
“whenever we see proper to shoot them, 
we will shoot them." 

The United States also enforces a no- 
fly zone in southern Iraq, mainly from 
bases in Saudi Arabia, to protect the 
country's rebellious Shiite region. Iraq 
frequently has complained that the 
patrols violate its airspace but has drawn 
retaliation from U.S. forces whenever it 
challenged the patrols. 

Although military and government 
officials here declined to specify how 
large the allied air force at Incirlik is, 
U.S. officials in Washington estimated 
that it has SO aircraft and 1,000 per- 
sonnel, which are rotated in and out. 
Currently, the Western official said, 36 
aircraft, including F-16s, tankers and 
radar-carrying AW AC aircraft fly each 
day. 

The allied patrol was known as Op- 
eration Provide Comfort when it was set 
up by the United States, Britain, France 
and Turkey. It is now called Operation 
Northern Watch, no longer includes 
France and has become an element of the 
U.S. policy to maintain pressure on Mr. 
Saddam’s government. 


ECONOMY: Fed Chief Sees Muted Exports 


Continued from Page 1 

testified with Mr. Greenspan, said he 
agreed with the Fed chairman’s view that 
the fallout on the U.S. economy would be 
"modest, but not negligible. ' ' He warned, 
however, that the effects of the Asian 
crisis would "depend heavily on stability 
being restored as soon as possible.” 

There is no “significant risk to U.S. 
financial institutions or to domestic fi- 
nancial stability as a whole as a result of 
the turbulence to date,” Mr. Summers 
said “As a result, the direct and indirect 
trade impact on our economy of a pro- 
longed period of slower growth in South- 
east Asia, and the large decline in its 
currencies is potentially significant." 

Two montns ago, most economists 
saw no reason to adjust their U.S. growth 
forecasts because of the Asian crisis, 
which they believed would remain con- 
fined toa region of the world far removed 
from America and its vital interests. 

"Most of our export growth was com- 
ing from Latin America so we saw liule 
reason for concern," said David Rosier, 
chief economist at Nomura Securities 
International. “Now all of a sudden the 
crisis has hit Latin America, loo." 

While the situation in Latin America 
appears nowhere near as dire as in Asia, 
the fiscal tightening and higher interest 
rates put in place across the region in 
recent days to defend markets have had 
an impact. Stock markets there have 
tumbled as once common forecasts of 
economic growth of 4 percent in power- 
house economies such as Brazil have 
been slashed to predictions of near neg- 
ligible expansion for next year. 

in a globe-straddling chain reaction, 
U.S. economists had started whittling 
awav at their growth forecasts in the 
wake of the stock market slump in late 
October. Now many of them arc cutting 
their forecasts further. “1 think that the 
crisis will cut American growth next 
year in half." said Philip Bravenran, 
chief economist for DKB Securities. 

While Mr. Braverman expects growth 
of 2 percent next year, one of Wall 
Street's most respected economists says 


that may move optimistic. Edward 
leni, chief economist at Deutsche 


even 
Yardeni, 

Morgan Grenfell calculates that there is a 
one-in-four chance that the United States 
could slip into a recession in 1998. 

By all accounts, America's economy is 
turning in its best performances in de- 
cades, with low inflation, solid growth 
and negligible unemployment. On Thurs- 
day, fresh evidence of the economy's 
health emerged in government figures 
showing that business productivity rose 
in the thud quarter to its fastest pace in 
nearly five years — to an annual rate of 
4.5 percent — helping to push the cost of 
producing a given unit of economic out- 
put down by 0.3 percent in the quarter. 

But many observers remained skep- 
tical. “For us to believe that we have 
nothing to worry about is lunacy," said 
JohirGutfreund, the former chairman of 
Salomon Brothers. After seven years of 
growth, “I have a feeling that we are 
looking at a serious change," he said. 

What worries many observers is that so 
many dikes in so many comers of the 
world have suddenly sprung leaks that the 
cumulative effect is likely to be felt even 
in America. Asia, excluding Japan, ab- 
sorbs nearly a third of U.S. capital-goods 
exports. With Latin America now slam- 
ming on the brakes as well, prospects are 
darkening for American exporters. 

For instance, Caterpillar, the world's 
largest maker of earth-moving equip- 
ment has seen its stock lose more than 20 
percent of its value in the last month as 
analysts have slashed their earnings es- 
timates for the company, based largely 
on the toughening outlook overseas. 

Not only do they and other exporters 
face a decline in overseas demand, but in 
the wake of major devaluations in the 
currencies of some of their leading com- 
petitors, American companies will also 
find that they must cut prices if they want 
to hold on to customers even at home. 

Separately, Chase Manhattan Corp, 
said it lost $160 million before taxes 
from trading activities primarily in Latin 
America in October, and as a result may 
fail to achieve its targeted 15 percent 
growth in operating earnings this year. 



KataSriflTAfBKe Raoce^MMe 

Members of the UN commission to disarm Iraq returning to their headquarters in Baghdad on Thursday after 
the government barred them again from a suspected weapons site. They were ordered to leave the 1 country. 

NATO Lowers the Bill for Enlargement 


By William Drozdiak 

Washington Post Sentice 


BRUSSELS — A definitive NATO 
study on the cost of absorbing the Czech 
Republic, Hungary and Poland into the 
Western military alliance has concluded 
that the U.S. estimates were much too 
high and that any extra burden for 
NATO budgets should amount to less 
than $2 billion over the next decade. 

The study, prepared in advance of 
next month’s meetings of the alliance’s 
defense and foreign ministers, vindic- 
ates the “enlargement on the cheap" 
views of European governments that 
need to cut budget deficits to qualify for 
a single European currency and objected 
to U.S. demands they bear the lion's 
share of enlargement costs. 

The NATO secretary general, Javier 
Solana Madariaga, said he welcomed the 
low-cost assessment as a “very positive 
development" that should eliminate the 
financial factor as a source of concern in 
tiie U.S. Senate and other legislatures 
that must ratify the alliance enlargement 
treaties in the coming year. 

"A month ago I was very worried that 
this issue could mean serious trouble for 
transatlantic relations," Mr. Solana said 
in an interview. “Now I am very much 
relieved to learn that in the judgment of 
our best military minds, the cost of en- 
largement should not pose any prob- 
lems.” 

Mr. Solana and other senior alliance 
officials said the detailed review by 
NATO’s top military commanders 
found the defense infrastructure of new 
members in much better condition than 
thought. They said air fields and rail 
lines in the former Warsaw Pact states 
had been well maintained and would not 
require the kind of expensive refurbish- 
ing to meet NATO standards that had 
been expected. 

The study also concluded that the 
allies, notably Britain, France and Ger- 
many, were making good progress in 


$35 billion through 2009. But several 
allies objected to that assessment, con- 
tending it exaggerated threats to the al- 
liance and placed too much of a financial 
Burden on European governments that 
were being asked to pick up more than 
90 percent of the bill. 

The bickering reached a crescendo at 
a meeting of NATO defense ministers 
last month in Maastricht, Netherlands. 
Several ministers argued that the U.S. 
approach to enlargement seemed to be 
predicated on finding new markets for 
costly high-tech weapons that members 
could ill afford. 

But Defense Secretary William Cohen 
and other senior U.S. officials have start- 
ed backing away in recent weeks from 
the administration’s cost estimates. They 
noted that the American study was car- 
ried out for four new members, not three. 


They also acknowledged that the defense 
posture of new and existing members is 
better suited for post-Cold War missions 
than tiie Pentagon study had postulated 
Senior NATO officials said that a 
detailed military review showed that the 
alliance as a whole may need to spend 
only $1.3 billion over the next lOyearsto 
ensure that the military forces of the new 
eastern. members can operate compatibly 
within NATO's integrated commandL 
They said that money, added to the 
alliance's common-funded budgets, 
would cover improving command, con- 
trol and communications facilities of the 
new members; upgrading their air de- 
fense systems; bolstering their ability to 
accept reinforcements from other allies, 
and conducting training and other ex- 
ercises so they can operate on the same 
basis as the rest of the alliance. 


Algiers Riot Police 
Smother Attempt 
At Protest March 


GxipUed by Om- Sttf Fnm Dapatrhrs 

ALGIERS — Riot police de- 
ployed a heavy security net in the 
center of Algiers on Thursday to stop 
supporters of six political parties, 
including one in the government co- 
alition, from mar ching against what 
they termed election fraud. 

Just before 2 P.M., when the gath- 
ering had beat scheduled to meet, 
the May 1 Square, one of the cap- 
ital’s main intersections, was com- 
pletely cleared as policemen carry- 
ing riot sticks blocked off all access 
roads and turned back passers-by. 

A helicopter maintain ed surveil- 
lance over the square. 

Police inspectors were also de- 
ployed around train and bus stations 
to check the identities of people who 
auived from neighboring provinces 
to take part in the march. 

About 1,000 demonstrators 
gathered at three points in streets 
leading to May 1st Square shortly 
before the march was due to take 
place. Said Saadi, leader of the 
Rally for Culture and Democracy 
(ROD), one of the protesting 
parties, was among those seen 
there. 

The parties had planned to march 
from the square to the Parliament 
building to protest what they said 
was widespread rigging of (he vote 
in local and regional elections last 
month. 

Hie main government party, the 
National Democratic Rally, took 
most seats in the balloting. 
a One resident said he saw the po- 
lice beating people who "tried to 
challenge police and organize die 
march.” 

There were no reports of any ar- 
rests, and the protesters finally dis- 
persed without marching. 

The Socialist Forces Front and 
the Rally for Culture and Democ- 
racy were among the groups that 
called for the march, including the 
Islamist- leaning Movement for a 
Peaceful Society, a member of the 
current government coalition, the 
resident added. (AFP. Reuters) 


PAKLEZ-VOUS: Not Many Do, and France Is Calling a Meeting 


Continued from Page 1 

others, like Canada and Belgium, it is 
one of two or more official languages, 
and in around 20, like Romania, Bul- 
garia and Egypt, it is widely studied or, 
as in Vietnam, went out of vogue with 
the independence struggle. 

The Canadian provinces of Quebec 
and New Brunswick also have full mem- 
bership. In the United States, New Eng- 
land, where > more people now study 
Spanish in school than French, has ob- 
server status, as does Louisiana. 

Potentially, the French-speaking 
world is powerful, with 10 percent of the 
globe's gross national product and 9 
percent of its population. 

But it includes some of the poorest 
nations in the world and some of the 
most violence-prone, including the 
Democratic Republic of the Congo, 
called Zaire until this year, and both 
Rwanda and Burundi. Hundreds of thou- 


equipping their armed forces for rapid sands of people have been killed in eth- 
mobility and power projection tasks re- nic massacres on 


quired to support their new military part- 
ners to the east. 

After careful scrutiny. NATO's two 
top commanders. General Wesley Clark 
and Admiral Harold Gehman, have now 


the territory of all three 
countries since 1994. 

In much of French-speaking Africa, 
until recently, France used linguistic and 
economic ties lo-kcep former colonies 
firmly in its orbit, using military force to 


pegged foreseeable threats to the alliance ■ protect leaders it liked and to oust those 
at much lower levels than in earlier en- it did not. 


Iargement studies. They envision a max- 
imum mobilization of 20 NATO divisions 
in a worst case scenario, about one-third 
the number estimated by the Pentagon in a 
study released in February. 

NATO officials said that given the 
diminished threat from Russia, for ex- 
ample, (hey have concluded that Poland 
can be defended easily with the allied 
forces and equipment now protecting 
Germany. “Poland is flat and presents 
no geographic barriers to extending our 


In Nonh Africa, Algeria, Morocco 
and Tunisia all made Arabic their of- 
ficial language after they achieved in- 
dependence from France. 

Algeria, Where the war for indepen- 
dence was even more bitter than in Vi- 
etnam and which is now tom by violence 
that has killed more than 60.000 people, 
has an estimated 3.5 million French 
speakers but does not participate in the 
Francophone movement at all. 

Now, in a historical irony that might 


global assault of Anglo-American cul- 
tural, economic and political influences. 

‘ 'The English that is spreading around 
the world is Anglo-American, not the 
pure English of Shakespeare," said 
Margie Sudre, a Vietnamese-born 
French legislator who had the job of 
secretary of state for Francophone af- 
fairs in the French Foreign Ministry 
when the conservatives were in power 
earlier this year. "We don’t want the 
French language to lose its richness and 
purity," she said. 

This weekend, (he linguistic summit- 
eers will elect Boutros Boutros Gbali. 
the former United Nations secretary- 
general, as their own secretary-general 
— a permanent spokesman to the rest of 
the globe for the next four years. 

"1 see it as a regional grouping," he 
said of the Francophone movement in a 
recent interview with the weekly Le 
Figaro Magazine. 

"It should become a way of defending 
cultural diversity,” he explained. "If 
everybody wears the same clothes, 
speate the same language, has the same 
customs, we risk having a global fascist- 
type regime." 

Somehow, all (his is expected to help 

some of^theu^tural and business clout 
around the world that English speakers 
get, in the French view, os a free ride. 

"As soon as you get two or three 
business leaders together, you start 
speaking English," 

French 

last month the president of. the main 
employers organization in France. 

In all the world there are, by official 
French count, only 105 million "genu- 
ine" Francophones, people who use 
French every day — not even half as 
many English speakers as there are in the 


around the world have learned it. 

France spends close to $1 billion a 
year in aid, education grants, language 
training programs and credits to spread 
French civilization around the world, 
including $88 million for the Franco- 
phone Agency, a coordinating organi- 
zation in Paris that will form the basis of 
Mr. Boutros Ghali's new secretariat. 

France also spends more than $100 
million a year on i ,056 Alliance Fran- 
caise centers that teach French in 134 
countries and goes to extraordinary 
lengths to protect French language and 
culture at home. 

Last year, Mr. Chirac vetoed Uffe 
Ellemann- Jensen, former foreign min- 
ister of Denmark, as secretary-general of 
the NATO alliance solely because he 
thought the Dane's French was nor good 
enough to preserve it as one of NATO’s 
official languages. 

Mr. Chirac also tried unsuccessful lly 
to keep the United States from forcing 
Mr. Boutros Ghali. an Egyptian, out of 
the UN job. where he vigorously de- 
fended French as an official language of 
the world body. c 6 

The rush to embrace English is par- 
ticularly amazing in this city, where ^5 
years ago U S. B-S2s dropped bombs 
and where today a visitor can buy a B-5*> 
cocktail (Cointreau. Kahlua and 
Baileys) for a few dollars in the trendy 
Club Opera. In the street stalls that have 

. , - SP™ 118 up . a,! over what used to be a 

speaxing English, " said a leading ■ sleepy and quaint colonial-architecture 
7 rench executive, Jean Gandois. until capital, there are any number of John 

Grisham and Michael Crichton novels 
translated into Vietnamese, but nor a 
book by a French or. for that matter, a 
Russian writer these days. 

Hanoi, swarming with motorcycles 
seems as on the make and cultural 
overwhelmed as Saigon did f- - L - y 


Iiu gmgiuj/iiib UIUIIMO IU bMraiuuig uui I’un, in u lIKItniliU Ill'll/ uhii lingiu nuiujr iiiwo uit »«» innwuciiuL'UaSdDISOndid mth > IQAft- 

collective defense eastward from Ger- baffle Mr. Ho. the French-edueaietl Vi- United Stales alone. Pur another way. at the height of ihe war with the a* s ‘ 
many." a lop NATO official said. "It's a elnamesc Communist leader who sac- fewer people speak French around the j icans. when the Soviet llninnxJ^'u" 

,o * £ 


many.' ’ a top NATO official said 
lot harder, and a lot more expensive, to 
defend Turkey than it is to reinforce 
Germany's neighbors.” 

The Clinton administration estimated 
early this year that the cost of NATO 
expansion would run from $27 billion to 


people speak 

globe than the number of people 
Brazil who speak Portuguese. 

Some55 million more people in foi 
French colonics in Asia. Aj^^America btfs. Vietnam is 


rificed millions of his compatriots' lives 
for independence from French and later 
American influence, his countiy is join- 
ing its former colonial master to try to use 

the French language to build a bloc of uiiu iik vannneun use roaurn occasion- iryii%u*prac<i!cc capitalism -i»vt e"'“ v 
nations determined to stand up to the ally and 100 million p^jple scattered is only a distant' memory. France 


. * 

* 




Now the Soviet Union no fonac 
s. Vietnam s n rw . 


French colonics in Asia. Aj^^America isfg. Vietnam is a Commiini«V*!^' r cx " 
and the Caribbean use Fn^h occasion- uyftqiWfMhx' capitalism J ‘ 



JI\ 



EA.GE8 


FRIDAY, NOVEMBER 14, 1997 




EDITORIALS/OPINION 


lirralfr 


INTERNATIONAL 



tribune. 


HlbUSHED WITH THE NEW VOWt T1MKS AND TIB WASHINGTON POST 


Send a Stronger Message 


- Iraq’s President Saddam Hussein 
flagrantly defies the United Nations. 
His henchmen busily conceal poison 
gas, germ weapons and missiles. The 
world community, outraged, summons 
ail of its courage and indignation and 
responds with ... a travel ban on some 
Iraqi officials. No more shopping at 
Hanods for Deputy Prime Minis ter 
Tariq Aziz — that'll show ’em. And 
meanwhile, Iraq continues to bar UN 
inspectors from checking on its illegal 


■S. officials portrayed Wednes- 
day's Security Council vote as a great 
victory. Secretary of State Madeleine 
Albright was “very pleased,” her 
spokesman said, “that the entire world 
community has united. ’ ’ Saddam Hus- 
sein “tried to drive a wedge through 
the coalition, and instead he ran into a 
brick wall of unanimity," the spokes- 
man said. 

But the United Stales could only 
entice France, Russia and CThina into 
that unanimous position by watering 
down to near meaninglessness the res- 
olution to be approved. Saddam Hus- 
sein doesn't let most of his people out 
of the country anyway, and the United 
Nations didn't even whisper the pos- 
sibility of military action. Iraq, which 
already has threatened to shoot down 
U.S. planes, responded to the UN Se- 
curity Council vote with another 
brazen threat — to expel all Americans 
on the UN inspection team. 

It’s worth recalling how we got to 
this point. Iraq invaded and occupied 
Kuwait, an independent but small and 


helpless neighbor. The United States 
assembled an alliance to force Iraq to 
withdraw. After Its defeat in that 1991 
war, Iraq — as a condition of cease-fire 
— agreed to allow UN inspectors to 
make sure it no longer was seeking to 
produce nuclear weapons. 

Secretly, Saddam Hussein immedi- 
ately resumed a covert program to re- 
tain and bolster Iraq’s poison gas and 
germ warfare arsenal; it admitted as 
much in 1995 but promised (again) to 
desist. This time we're really, really 
telling the truth, Iraqi officials claimed. 
Since then, Iraq's interference with 
UN inspectors and its concealment 
of documents and weaponry has only 
increased. And all dais from a regime 
that has used poison gas on its own 
people, that attempted to assassinate 
President George Bosh, that launched 
Scud missiles at Israel. 

Maintainin g pn anti-Iraq coalition is 
a worthy tactic, but it is not the prime 
goal here. The goal is, must be, to make 
clear that the United States will not 
allow Saddam Hussein to maintain 
and rebuild a. deadly arsenal, to 
threaten millions of people with death 
by anthrax, to flout every rule of 
civilized behavior. 

If the United States is firm in 
that determination, other nations will 
more likely come along. Whether they 
do or not, the United States cannot 
flinch from its strategic purpose — a 
purpose that has lime in common 
with travel bans on Saddam Hussein’s 
lackeys. 

— THE WASHINGTON POST. 


Big Labor’s Mistake 


The refusal of House Democrats to 
give the leader of their party “fast- 
track” authority to negotiate trade 
pacts is disturbing testimony to the 
power of organized labor's campaign 
! money — and of flagrantly false 
rhetoric. 

Opponents declared that their action 
would prevent President Bill Clinton 
from entering into another pact as 
“harmful” as the North American 
Free Trade Agreement, signed with 
Mexico and Canada in 1993. 

After all, Mexico soon sank into 
recession and created a trade deficit for 
the United States. But Nora Lustig of 
the Brookings Institution shows that 
NAFTA’s impact cm America has 
been trivial. 

The Mexican economic crisis, not 
NAFTA, created the trade deficit. 

The revealing fact is that Mexico’s 
recession drove exports from Europe 
and Japan down by about 25 percent 
while exports from the United States 
under NAFTA fell only about 2 
percent Contrary to Ross Perot’s 
jeremiad, the number of displaced 
American workers has been small. 


and most of them quickly found 
new jobs. 

Fast-track opponents raised the fear- 
mongering claim that trade with de- 
veloping countries creates a race to the 
bottom for the wages of American 
workers. But American wages closely 
mirror American productivity. Trade 
cannot threaten productivity in Amer- 
ican companies, so it does not threaten 
the wages of most American workers. 

Indeed, history shows that trade 
boosts productivity, raising wages in 
America and, even faster, in previously 
low-wage countries such as South 
Korea and Taiwan. The race, then, is 
to the top. 

Ume is a legi timate concern that 
imports, though driving consumer 
prices lower for everyone, can whittle 
down the wages of America's least- 
skilled workers. But the actual impact 
has been small and there are far 
better ways to help the few displaced 
workers who are forced into lower- 
paying jobs than to stomp on trade and 
thereby make die entire country 
substantially poorer. 

— THE NEW YORK TIMES. 


Quack, Quack 


If President Bill Clinton can’t get 
the trade bill passed, what else can't 
he do? That’s the policy version of a 
political question: Is Mr. Clinton, 
never a particular favorite of many 
members of his own party anyway, 
already becoming something of a 
lame duck? 

In the budget agreement earlier 
this year, the president and con* 
sional Republicans finessed the 
questions of what to do about Social 
Security and Medicare, the costs of 
which will far outstrip available rev- 
enues when the baby boomers begin to 
retire not that many years from 
now. Yes, that’s the basic budget issne 
the United Suites faces, but they wer- 
en't yet ready to deal with it The 
president indicated he'd have propos- 
als later in his term. 

But congressional Democrats — 
most House Democrats, anyway — 
aren’t eager to tamper with either of 
these programs, which they see as cen- 
tral to the party’s political prospects 
and pillars of wbat it stands for. if he 
couldn’t get them to vote for a trade 
bill, how will he get them to vote for 
long-term change in either of these? 
Likely answer. He probably won’t 

Taxes are another issue. In his first 
budget President Clinton, to his great 
credit successfully fought to restore a 
part of the progressive edge the tax 
code had lost in the Reagan-Bush years 
immediately preceding. In the current 
budget however, he acquiesced in a 
series of regressive tax cats that dulled 
that accomplishment 

Now congressional Republicans 
want to take the further step of either 


flattening the income tax or replacing it 
with a national sales tax. The president 
resists, and in this case has most con- 
gressional Democrats on his side. Bat 
his political instinct when confronted 
with similar issues in the post has been 
to try to blur and neutralize them by 
adopting some pan of the Republican 
position. Where, if sufficiently 
pressed, will he finally come out on 
this one, and with what effect? Again, 
not clear. 

Mr. Clinton says he will come back 
next year, election year, with a revised 
position on trade that will somehow 
win the votes and accomplish the pur- 
pose that eluded him this year. Maybe. 
He continues to say he wants campaign 
finance reform, but assuming that he 
means it, where does he find the clout 
to achieve it? He hopes somehow to 
summon the country to begin reducing 
emissions of the greenhouse gases 
causing global warming. Where does 
the clout, not to mention the cred- 
ibility, for that come from? 

The president has shown himself in 
the past to be a remarkably resilient 
politician, a skilled reform ulator, when 
necessary, of both the issues and his 
own positions. And he has, on each of 
these basic and difficult issues, a di- 
rection in which it’s pretty clear be 
would prefer to travel. He has con- 
founded those who have written him 
off before, and it would be a mistake to 
write him off on the strength just of 
the trade vote. But the rest of his 
second term already looked like an 
uphill climb, and now that climb is a 
lot steeper. 

— THE WASHINGTON POST. 


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No. 61337 



Plotting Politics on the New Globalization Graph 


W ASHINGTON — Well I 
it’s official now: America 
four-parly system. 

That’s the moat important lesson to 
come out of Monday’s decision by con- 
gressional Democrats to reject President 
Bill Clinton’s request for “fast-track” 
authority to sign more international 
free-trade agreements. I see a silver lin- 
ing in what Congress did, even though it 
was harebrained. Maybe now at least the 
American public, and the business com- 
munity, will frilly understand what pol- 
itics are increasingly about in the United 
States and will focus on which of Amer- 
ica’s four parties they want to join. 

Me, I’m an Integratiooist-Social- 
Safety-Netter. How about you? 

To figure out which party you're in, 
let me again offer the Friedman matrix 
of globalization politics. Take a piece of 
paper and draw a line across the middle 
from east to west This is the glob- 
alization line, where you locate how you 
feel about the way in which technology 
and open markets are combining to in- 
tegrate more and more of the world. 

At the far right end of this line are the 
Integrationists. These are people who 
believe that freer trade and integration 
are either inevitable or good; they want 
to promote more trade agreements and 


By Thomas L. Friedman 

Internet connections from one end of 
the world to the other, 24 hours a day. 

Next go to the far left end of this line. 
These are the Separatists. These are 
people who believe free trade and tech- 
nological integration are neither good 
nor inevitable; they want to stop them 
in their tracks. 

So' first locate yourself somewhere 
on this line between Separatists and 
Integrationists. 

Now draw another line from north to 
south through the middle of the glob- 
alization line. This is the distribution 
line. It defines what you believe should 
go along with globalization to cushion 
its worst social, economic and envi- 
ronmental impacts. 

At the southern end of this line are 
the Social-Safety-Netters. 

These are people who believe that 
we need to package global integration 
with programs feat will assist the 
“know-nots" and “haveruots.” who 
lack the skills to take advantage of the 
new economy or who get caught up in 
the job-chuming that goes with glob- 
alization and are unemployed or driven 
into poorer-paying jobs. 


The Safety-Netters also want pro- 
grams to improve labor and environ- 
mental standards in developing coun- 
tries rushing headlong into the global 
economy. 

At die northern tip of this distri- 
bution line are the Let-Them-Eat- 
Cakers. These are people who believe 
that globalization is winner-take-alL 
loser-take-care-of-yomself. 

Now everyone in the fast-track de- 
bate is in my matrix: Bill Clinton is an 
Integrationist-Social-Safety-Netter. 

Newt Gingrich is an Integrationist- 
Let-Them-Eat-Caker. Dick Gephardt 
is a S eparatis t- Social-S af cty-N etter 
and Ross Perot is a Separatist-Let- 
Them-Eat-Caker. 

That’s why Mr. Clinton and Mr. 
Gingrich are allies on free trade but 
opponents on social welfare, and why 
Mr. Gephardt and Mr. Perot are allies 
against more free trade but opponents 
on social welfare. 

As I said. I’m an Integrationist-So- 
cial-S af ety-N etter. I believe that the 
technologies weaving the world more 
tightly together cannot be stopped and 
the integration of markets can only be 
reversed at a very, very high cost. Bill 
Clinton is right about that and Dick 
Gephardt and the onions are wrong. 


But Mr. Gephardt and the unions are 
right that globalization is as creatively 
destructive as the earlier versions ot 
capitalism, which destroyed feudalist 11 
and communism. With all its positives, 
globalization does churn new jobs and 
destroy old ones, it does widen gaps 
between those with knowledge skills 
and those without them, it does weaken 
bonds of community. And the Clinton 
team, the business community and all 
the workers already benefiting from the 
information economy never took these 
Hark sides seriously enough. 

One hopes they now realize that this 
id one -of the most fundamental issues 
— maybe THE most fundamental issue 
— in American politics. 

You can’t just give a speech about it 
one month before the vote, you can't 
just have your company buy an ad 
supporting it the day before the vote, 
you can’t just summon a constituency 
for it on the eve of the vote. Y ou have to 
build a real politics of Integra tionist- 
S ocial-S afety-Nettism — a politics 
that can show people the power and 
potential of global integration while 
taking seriously their need for safety 
nets to protect them along the way. 

Build It and they will come. 

The New York Tunes. 




What Hungarians Should Ask Themselves About NATO 


L ONDON — In a national 
referendum this Sunday, 
Hungarians will be asked 
whether they want NATO to 
guarantee their security. 

Over the last six months or 
so, the Atlantic alliance and 
Hungary's Defense Ministry 
have pumped millions of dol- 
lars into a slick ad campaign to 
ensure that the answer is ‘ ' yes. ” 
Unfortunately, a large number 
of people in this fledgling de- 
mocracy will make a significant 
decision about tbeir future with- 
out having witnessed an in- 
formed and balanced debate on 
the subject 

Nobody has made the Hun- 
garians, or for that matter the 
Poles and the Czechs, aware of 
the fine print NATO member- 
ship is not going to be free, and 
Eastern Europeans will spend 
precious resources to buy hol- 
low assurances. In turn, West- 
on weapons manufacturers are 
entering a lucrative market 
worth at least $35 billion, 
selling fighter aircraft and at- 


By Tasos Kokkixtides and Alistair Millar 


tack helicopters to a region that 
does not need them and cannot 
afford them. 

Eastern Europeans are keen 
to make a clean break with their 
C ommunis t past and become 
part of Europe again. However, 
very few ask why member- 
ship in the North Atlantic 
Treaty Organization is a pre- 
condition for this. Opinion polls 
indicate that membership in 
the European Union is a much 
more attractive option for these 
nations, which face no signif- 
icant military threat and need 
market reforms to fuel sustain- 
able economies. 

What is Hungary going to 
get out of membership in the 
alliance, after increasing its 
defense budget in order to 
meet NATO’s compatibil- 
ity and interoperability stan- 
dards? 

Before the Hungarians sign 
off on NATO membership, 
they should consider two state- 


ments from the Clinton admin- 
istration. 

The first was made by Sec- 
retary of State Madeleine Al- 
bright during a trip to Eastern 
Europe. 

“Above all,” she said, 
NATO membership “means 
yo.u will always.be able to rely 
on us and we mil always rely 
on you.” 

If there is a threat to peace 
and security, she continued, 
“we will be bound by a solemn 
commitment to defeat it to- 
gether.” 

The second statement came 
from President Bill Clinton in a 
letter to Congress, and offered a 
far less reassuring assessment 
of NATO’s security guarantee. 

“Article V" — which stip- 
ulates that an attack on one 
NATO member is an attack on 
all members — “does not 
define what actions would con- 
stitute an attack or prejudge 
what alliance decisions might 


be made in such circum- 
stances,” he, said. “Member 
states acting in accordance with 
established constitutional pro- 
cesses are required to exercise 
individual ana collective judg- 
ment over this question.” 

The U.S. . administration 
speaks of guarantees for East- 
ern Europe when talking to 
Eastern Europeans but of -loop- 
holes when talking to Cob- 


Hnngarians believe NATO 
membership will tie their se- 
curity to that of the United 
States. But in die unlikely case 
that Hungarian security was 
threatened, Budapest could ex- 
pect Washington and its Euro- 
pean allies to profess solidarity 
and make threatening state- 
ments bat to take little, if any, 
real action. 

Article V of the 1949 NATO 
treaty is nothn automatic guar- 
antee of assistance. Of course, 
die allies would consult in the 
event of an attack on a NATO 
member state, but it is unlikely 


that they would respond to any ■ 
threat that did not directly 
threaten their own security. d 

The needs of Europe and the - 
United States in the post-Cold 
War era are now more real- 
istically met by collective se- 
curity organizations, not mil- 
itary allianc es. Hungarians 
might consider whether a more 
inclusive, less expensive altern- 
ative to NATO would better 
serve their interests. 

The real question to ask the 
Hungarians about NATO, 
though, is this: Are you going 
to get what you are paying 
for? At the osd of the day, 
this question probably won’t re- 
ceive the “yes” that the NATO 
advertising campaign has 
aimed for. 

f* 

The writers are analysts at V 
the British American Security 
Information Council, an inde- 
pendent research organization. 

They contributed this comment 
to the International Herald 
Tribune. 


Democratic Philippines Will Surmount Asia’s Troubles 


M anila — wMe its 
neighbors in Southeast 
Asia will experience a signif- 
icant slowdown in the growth of 
their exports, the Philippines is 
set to increase its overseas sales 
of manufactured goods by more 
than 20 percent this year. This 
achievement is especially not- 
able because the Philippine peso 
has depreciated in value against 
the U.S. dollar less than the Thai 
baht, the Indonesian rupiah and 
the Malaysian ringgit. 

But the Philippines' compe- 
titive advantage goes far be- 
yond the devaluing of its cur- 
rency. The financial turmoil in 
Asia has vindicated die efforts 
of die Philippines to make 
democracy and development 


By Bernardo M. Villegas 


compatible. As President Fidel 
Ramos and other Philippine 
leaders have doggedly main- 
tained, in contrast with the con- 
ventional wisdom among the 
authoritarian leaders of East 
Asia, democratic practices are 
in the long run also good for 
sustainable economic develop- 
ment. 

The long run has arrived for 
the Philippines. Considered the 
most open society in East Asia, 
it is now reaping the economic 
benefits from what previously 
were regarded as handicaps to 
achieving economic progress: 
an American-style democratic 
form of government; a free 


press bordering on the li- 
centious; the proliferation of 
nongovernmental • organiza- 
tions advocating a wide range 
of causes, and mass access to 
higher education. 

The Philippines represents di- 
versity of values, religions, tra- 
ditions, views, opinions, in- 
terests and backgrounds. Its error 
in the past was to nurture a dosed 
and protectionist ecoaomy. 
After a decade of liberalization, 
privatization and deregulation, 
the country now has both a mar- 
ket economy and institutionstfaat 
ensure political freedom. 

The Philippines stands out in 
East Asia as having the most 


For a Global Peoples Assembly 


W ILMINGTON, Delaware 
— The recent dramatic 
announcements of record -set- 
ting contributions to interna- 
tional causes by Ted Turner and 
George Soros suggest tremen- 
dous possibilities for the future. 

These two men signify the rise 
of a new breed of global phil- 
anthropist active in fashioning 
an i nte rn ational civil sodety. U 
was globalization that gave them 
the opportunities to amass ex- 
traordinary wealth. It now 
provides them and others with a 
unique opportunity to contribute 
to human well-being. 

This includes pushing for the 
democratization of the global 
order, a goal that governments 
are reluctant to promote. 

Such individuals could do 
this most imaginatively by 
providing funds for the estab- 
lishment of a popularly elected 
Global Peoples Assembly, 
which would provide the 
world’s citizens for the first 
time with a forum to express 
their planetary aspirations and 
grievances outside the tradi- 
tional nation-state context 
Elections for this assembly 
could be organized and admin- 
istered by an international cit- 
izens' committee and overseen 
by the respected Swedish or- 
ganization International Demo- 
cratic Elections Assistance, or 
IDEA. Once established, the as- 
sembly could lobby govern- 
ments for formal recognition 
within the UN system. 

To begin with, however, such 
an assembly would have an in- 
ternational legal status similar 
to that of nongovernmental or- 
ganizations like the Red Gross 
or Amnesty International Un- 
like them, however, it could lay 
claim to speak on behalf of die 
peoples of the world. As the 
only such body, it would have 


By Andrew Strauss 
and Richard Falk 


the potential to be highly in- 
fluential even before receiving 
formal recognition. 

Specifically, how would this 
assembly make its influence 
felt? Like the UN General As- 
sembly, whose official powers 
are largely recommendatory, 
such an assembly would con- 
tribute to the creation of plan- 
etary norms of behavior by is- 
suing resolutions and pro- 
clamations, and more generally 
by expressing views on critical 
issues of global policy. 

In a more ana more integra- 
ted world that increasingly 
ascribes to democratic prin- 
ciples, the case for such an as- 
sembly seems unassailable. 

First, because the globaliza- 
tion of the world economy inevi- 
tably requires the development 
of global regulatory institutions, 
the preservation of freedoms 
now enjoyed demands we begin 
to structure these institutions 
along democratic lines. 

Second, the very existence of 
a citizen-controlled internation- 
al assembly would both ideo- 
logically and practically re- 
inforce democratic practices 
within countries and undermine 
authoritarianism. 

Third, allowing representa- 
tives from different countries 
and civilizations to work togeth- 
er to advance mutual interests 
and discuss differences in an as- 
sembly setting would help pro- 
mote a climate of civility in glob- 
al affairs, encouraging universal 
values to prevail over more pa- 
rochial concerns, as well as over 
sectarian loyalties and beliefs. 

Finally, the establishment of 
Guch a global assembly with di- 
rect electoral accountability to 


W 


workers, peasants and other cit- 
izens would give currently vul- 
nerable groups a- voice and help 
them regain some of the power 
lost to international capital as a 
result of globalization. 

The major argument likely to 
be advanced against such an un- 
dertaking is that it is naive, 
idealistic and. at best, prema- 
ture. To be sore, logistical prob- 
lems would have to be over- 
come. Worldwide elections 
would have to be independently 
organized. A voting formula 
based upon one person, one vote 
would nave to be put into place, 
and elections would need to be 
certifiable as free and fair. 

There would, of course, be 
glitches. Some governments 
would undoubtedly not allow 
such elections to occur on their 
territories, and until sufficient 
pressure could be brought to 
bear their citizens would have 
to go unrepresented. Bnt these 

S oblems would not be fatal to 
e endeavor. 

There is no reason to think 
this lies beyond the realm of the 
possible. Indeed, a bold, vis- 
ionary undertaking at thfe start 
of a new mill e nnium might ac- 
tivate the political and moral 
imagination of all those who 
aspire to construct a world order 
more responsive to the values 
associated with democracy. 

Those with the resources 
have the capacity to make this 
proposal a reality by seizing the 
initiative and promoting the 
democratization of the emerg- 
ing international order. Democ- 
racy at the global level is 
needed and long overdue. 

Mr. Strauss and Mr. Falk, in- 
ternational law professors at 
Widener and Princeton Uni- 
versities, respectively, contrib- 
uted this to the Herald Tribune. 


politically stable future. It has 
resolved the political succession 
problem still bedeviling many of 
its neighbors. Precisely because 
of the effective checks and bal- 
ances among the three brandies 
of government and between die 
stare and civil sodety, recent 
controversy over the constitu- 
tion was peacefully resolved. 

Responding to public clamor 
that he not try for a second term 
through an amendment to the 
constitution. President Ramos 
promised that he would- step 
down on June 30, 1998, as 
scheduled. None of die leading 
contenders for the presidency is 
expected to introduce any sig- 
nificant departure from the mar- 
ket-oriented policies put in 
place by Mr. Ramos’s govern- 
ment. 

The lively debates that fol- 
lowed the overthrow of the 
Marcos regime in 1986 have 
gradually led to a consensus 
on libera] economic policies 
among all the important polit- 
ical parties. Even the most pop- 
ulist presidential candidate — 
Vice President Joseph Estrada, 
who according to polls is die 
leading contender — - has 
openly declared his support for 
the economic policies of Mr. 
Ramos. 

The most decisive compe- 
titive edge of the Philippines is 
its abundant pool of highly edu- 
cated, skilled and English- 
speaking manpower. Thanks to 
its American-style democracy, 
the country has provided mass 
access to higher education, in 
contrast with the elitist approach 


that most of its neighbors in- 
herited from their European col- 
onizers. The Philippines’ pre- 
dominantly privately financed 
university system has produced 
a bumper crop of highly train- 
able workers who are praised by 
foreign investors. 

Even the Philippines' grid- 
lock-prone system of govern- 
ment, in which the legislative 
process moves at snail’s pace 
and toe Supreme Court fre- 
quently interferes in economic A 
decision-making, provides 
some blessings m disguise. 

It has allowed toe economy 
to grow at the .moderate but 
sustainable rate of 5 to 6 percent 
annually over toe last three 
years, preventing the overheat- 
ing that has caused toe current 
problems in Thailand, Indoner 
sia and Malaysia. The never- 
ending debates on the form not 
substance of market-oriented 
policies have actually helped 
toe Philippines avoid the 
“babble” situation faced by 
many of its neighbors. 

A rosy economic future for sL 
the Philippines is not necessarily f r 
a foregone conclusion. But its 
chances of bouncing back from 
the current' turmoil are much 
brighter than those of many oth- 
er countries in East Asia, thanks 
to political freedom. The long- 
term gamble on democracy is 
finally paying off. 

The writer, dean of the school 
of economics at the University 
of Asia and the Pacific, con- 
tributed this comment to the In- 
ternational Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1897: A Glass Eye 

LONDON— Mr. Henry Smith, 
a well-known veterinary sur- 
geon practising ai Worthing, 
has just performed a profession- 
al operation which is believed to 
be unique. A fox terrier belong- 
ing to Mr. Wells, of Warwick- 
read, Worthing, had the mis- 
fortune to have one of its eyes so 
shockingly injured that the re- 
moval of the organ was the only 
alternative to the destruction of 
toe terrier. Mr. Smith was con- 
sulted and toe dog left under his 
charge. Chloroform was admin- 
istered. and Mr. Smith success- 
fully removed toe injured eye- 
ball. replacing it with a glass 
eye. The terrier is now running 
hbout as usual 

1922: Racial Decision 

WASHINGTON — Japanese 
are not white within toe mean- 
ing of toe American law and so 
are hot entitled to American dt- 


A . 

V 


izenship, according to a de- 
cision handed down tty die 
United States Supreme Court in i 
upholding the California Court fr 

of Appeals in a test case brought * 

by Takao Ozawa, of Honolulu, 

.who claimed that he is white 
and consequently eligible for 
American c itizens hip. Ozawa 
contended that he is entitled to 
citizenship as a descendant of 
the white tribe Aisu, and he 
began his fight several years 
ago in Hawaii He has lived in 
Hawaii since his childhood. 

1947: Dalton Re signs 

LONDON — Hugh Dalton 
resigned tonight [Nov. 131 as 
Chancellor of the Exchequer of 
toe Labor government after ad- 
mitting to toe House of Com- 
mons that he had “leaked" ad- 
vance information on his budeet A 

speato to a London newspaper C 

Sir Stafford Cripps, Ministerof V ' 

aronomic Affairs, was imme- 
diately appointed his successor. 








\&p 


INTERNATIONAL HERALD TRIBUNE. FRIDAY. NOVEMBER 14, 1997 


PACE 9 


OPINION/LETTERS 


In 


"t H-»<{ 


M 



Untangle America’s Policy 
And Isolate Kabila Regime 


By David Aronson 

W£ S ^ GT0N - Lams* 

J v . s Troo P s marched into Kin- 


4 


* ■ . . r - - — ~ vuwm uiiu mu- 

shasa i n May to proclaim the Democratic 
Republic of Congo, they were greeted with 
a guarded enthusiasm that reflected both 
uncertainty about their new leader’s in- 
tentions and gratitude for the overthrow of 
the revded Mobutu Sese Seko. This mix- 
ture of hope and apprehension was widely 
shared in the outside world, with The 
Economist, for example, cautioning that 
President Kabila would face challenges to 
test the talents of a Lincoln or a Mandela 

Though in retrospect it seems to have 
been wishful thinking, there were, in those 
early days of May, some reasons for hope. 
Mr . Kabila had spontaneously or ganize d a 
scattering of spot elections: some of his 
ministers, ai least, possessed impressive 
enough credentials. And while rumors of 
his background did not exactly reassure, 
one could hope that he had left the indolent 
Marxism of his youth behind him. 

What a difference a few months ran 
make. The rumors of widespread mas- 
sacres that trailed messily in Mr. Kabila's 
wake have long since proven terribly ac- 
curate. Ethnic fratricide has broken out in 
the east. In Kinshasa, presidential cor- 
ruption has again become the order of the 
day, even as more and more journalists and 
opposition leaders are jailed and beaten. 

Congolese increasingly view Mr. Kabila 
as a quisling from neighbor ing Rwanda and 
ask how Americans would feel if the United 
Slates were to be conquered by Cuba — an 
analogy that is not wholly inexact. 

There has been zero movement toward 
democratization, and Mr. Kabila’s beha- 
vior is increasingly erratic and irrational. 

The situation in Congo presents U.S. 
policymakers with unusually complex 
choices. On the one hand is the historical 


obligation owed a people who suffered for 
30 years under a tyrant installed by the 
CIA. On the other land, Mr. Kabila has 
revealed himself as little more than a vil- 
lage bully, and conscience rebels against 
cooperating with a government that has 
come to power 1 with blood on its bands. 

Current U.S. policy reflects these ten- 
sions, which it attempts to resolve by 
simple averaging. This, at any rate, can be 
the only explanation for the embarrassing 
$8 million aid package the United Stares is 
proposing for die current fiscal year. 

We need to observe a basic distinction 
between aid that operates through the gov- 
ernment, which often has the effect of bol- 
stering and legitimizing its rule, and aid thai 
bypasses government institutions, works 
with indigenous local nongovernmental or- 
ganizations to alleviate suffering and helps 
buttress the institutions of civil society. 

The fact that toe Congolese civil society 
has essentially functioned, since toe col- 
lapse of the Mobutu ist state in the early 
1990s, as a substitute provider of services 
and social authority makes it a good can- 
didate for receiving aid. An amount on the 
order of $100 million disbursed annually 
to this sector would not be out of line. 

At toe same time, the United States 
should seek to isolate this new regime, and 
apply to it all the sanctions and international 
opprobrium that crimes against humanity 
should automatically elicit We Americans 
have the keys to the International Monetary 
Fund and toe World Bank, as well as to toe 
Olympics and the UN Security Council 
Private companies, such as Bechtel, that 
seek to do business with Mr. Kabila should 
be made aware that collaborating with mass 
killers is not good for toe corporate image. 

Goals in isolating this new regime 
should be clean first, to force it to allow 



toe United Nations' human rights inquiry 
to proceed. Second, to force it to hold free 
and fair national elections. 

Why such a priority on elections? A 
Kabila dictatorship cannot be allowed to 
take root, and elections are the only way to 
secure a peaceful transition. By holding 
out hope for Congo's increasingly angry 
populace, the prospect of an election 
would also reduce the likelihood of ethnic 
violence, urban chaos and armed conflict. 

One of the most frustrating aspec ts of the 
current debate on U.S. policy toward toe 
region is toe recurrence of the same old 
bromides heard during toe Mobutu years. 
It’s Mr. Kabila or chaos, say those who 
would have us collaborate with this regime. 
Supporters of this argument, however, nev- 
er quite specify just how aid prevents 
chaos. In fact, the empirical evidence sug- 
gests the opposite: What Liberia, Somalia, 
Sudan and Zaire have in common, aside 
from being toe African basket cases of toe 
1990s, is that they were major recipients of 
American largesse in the "70s and '80s. 


At the same time that we pursue apolicy 
of constructive opposition to the Kabila 
regime, we need to renew our efforts to 
bring an end to toe impunity that has been 
the ultimate source of so much bloodshed 
in Central Africa. The very Rwandans who 
endured toe genocide of 1994 are respon- 
sible for toe preponderance of massacres 
committed during Mr. Kabila’s war. One' s 
judgment of them must be tempered by a 
humility before the honor they endured. 

Strengthening toe institutions that 
were established to deal with the 1994 
genocide, extending their mandate to 
include toe slaughters of 1997 and making 
Central Africa a far higher priority for 
senior foreign policymakers, would 
go some of the way toward treating toe 
still gaping wounds of that region. 

The writer, who visited the Democratic 
Republic of Congo in June on a fact- 
finding mission for the Carnegie Endow- 
ment for International Peace, "contributed 
this comment to The Washington Post. 


When Sports and TV 
Stop Playing Fair 


Bv Richard Reeves 


LETTERS TO THE EDITOR 


On Scientology 

Once again, the “Church" of 
Scientology is in the news. 

A meeting in -Washington 
on Nov. 5 between the U.S. 
secretary of state, Madeleine 
Albright, and Foreign Minister 
Klaus Kinkel of Germany 
inefuded. as a topic of conver- 
sation, toe status of a "religion” 
whose doctrine states that human 
beings are dusters of spirits 
formerly trapped in ice and 
banished to Earth about 75 million 




planet Galactic Confederation 
named Xenu. 

Meanwhile, war crimes go 
unpunished in the former 
Yugoslavia: toe body count 
climbs in Algeria: the people of 
Sierra Leone face mass starvation; 
chemical weapons are missing 
from former Soviet laboratories; 
Europe is integrating; NATO 
is expanding. Inexplicably, the 
United States spends its time 
defending the legitimacy of a 
religion that, from 1968 until 
1993, was considered illegitimate 
under.U.S. tax law. 


As an American lawyer living 
in Fr ankf urt, I cannot help but 
feel ashamed. How can toe U.S. 
government criticize Germany 
for regarding Scientology as a 
business and not a as tax-exempt 
religion, a legal ruling toe United 
States held for 25 years? Could 
it really be possible under U.S. 
immigration law that, by toe 
mere act of not being given 
tax-exempt status. Goman 
Scientologists would be allowed 
to seek asylum in toe United 
States for religions- persecution? 
Above ail, why must Germany 


subscribe to toe same religious 
definitions as the United States? 

Despite my rigorous training as 
an advocate, and despite an Amer- 
ican attorney's ability to jump 
from one sick of an issue to the 
other with barely a pause, I admit 
to being completely baffled by 
these questions and by the con- 
duct of my country concerning 
this subject. I would rather our 
foreign ministers spent more time 
talking about Iraq, Africa, toe 
policy of engagement in China, 
even the recent manslaughter con- 
viction of the 19-year-old British 


nanny. As for the topic of 
Scientology’, it simply leaves me 
with a feeling of shame. 

JOHN H. ZANE 
Frankfurt. 

A Keeling Euro? 

So the new little Mercedes- 
Benz keels over at the first sign 
of trouble. It makes you wonder 
if that other grand German design, 
toe single European currency, will 
hold the road any better. 

CHRISTOPHER NICOL. 

Cannes. 


N EW YORK — Like many 
people around here, the first 
newspaper 1 found was the New 
York Daily News. When 1 was 
an impressionable kid, I used 
the tabloid's photos, drawings 
and box scores in my album 
dedicated to America's premier 
organization, toe Brooklyn 
Dodgers. My team went west, 
and the paper of my boyhood 

MEANWHILE 

almost went south several times 
under various owners. 

But toe News survives. Flip- 
ping through the paper's 20 full 
pages of sports, 1 stopped for a 
moment to read a small feature 
coded Sports Wire, a bullet- 
by-bullet collection of stories 
that almost didn't make iL This 
is the entire “baseball" section 
of the wire: 

■ Former Red Sox outfielder 
Wilfred o Cordero pleaded guilty 
in Cambridge, Massachusetts, to 
beating and threatening his wife. 
He received a 90-day sentence 
(suspended by toe judge), and 
must attend regular batterers’ 
counseling sessions. 

• Indians outfielder Manny 
Ramirez was found guilty of 
four minor traffic violations while 
two other citations were dropped. 
Ramirez was fined $225 plus 
court costs. 

• Former Angels outfielder 
Tony Phillips pleaded guilty 
to misdemeanor cocaine posses- 
sion and was ordered into a 
drug program that could clear 
his record. 

• Steve Avery exercised his 
$3.9 million opiion with Boston 
after going 6-7 with a 6.42 ERA. 

Under “hockey" the first item 
was: "Hurricanes G. Sean Burke, 
charged with assaulting his wife, 
was expected to retumlo practice 
today in Raleigh, North Carolina. 
He was released from jail ...” 

Under “basketball" it read: 
"Shaquille O'Neal was suspen- 
ded for tonight's game at Sac- 
ramento and fined 510.000 by toe 
NBA for hitting Utah center Greg 
Ostertag between practice ses- 
sions on Friday . . . costing O'Neal 
one game's pay — $156,794." 

Why do I follow sports any- 
more? Many of the players are 
obviously out of control. For 
every Michael Jordan, there 
seems to be some college jock 


throwing a girl out a window or 
going to town and beating up the 
locals. And if toe local paper or a 
television station reports on it, as 
they have in Seattle and Boise, 
Idaho, reporters are attacked as 
disloyal to town and team. 

There are hardly any real teams 
left, just franchises like toe 
Florida Marlins who went on a 
shopping apree to win toe World 
Senes. The players are being 
stamped all over by Nike to 
toe point lhai they look like 
they’re wearing big Laura Ashley 
patterns, li doesn't matter how 
well or badly anyunc plays: a guy 
like Avery gets more than 
$500,000 a victory because he 
was once terrific back in Atlanta. 

I hate toe moving around of 
franchises and players. I do not 
resent nearly as much that the 
players cash’in, because basically 
they are entertainers gening a 
piece of toe paid attendance. 1 have 
also traveled with toe New York 
Mels and was impressed by toe 
players’ fear of injury — one bad 
break and they were unemployed. 

In fooibalL I've seen the field 
filled on “old-timers" days with 
toe fastest and strongest of a gen- 
eration now- crippled by arthritis 
and muddled by head injuries. 
Was it worth toe risk? To them, 
yes. They had sold their youth for 
enough money to live out their 
lives. Who am I to criticize? 

The person I criticize is myself, 
mesmerized by things that should 
not matter much and arc dishonest 
at the core. The game is fixed. 

1 don't mean the score on the 
field: I mean the partnership 
of sports and television — 
especially tough-talking broad- 
casters and analysts. Remember 
NBC rearranging the Olympics 
last year in Atlanta to serve 
its own purposes? 

Slumped on toe couch in some 
kind of stupor watching the Phil- 
adelphia Eagles. I saw a camera 
drift to the sidelines where toe 
quarterback Ty Detmer and a 
running back." Ricky Watters, 
were shouting and pushing each 
other around. What was that 
about ? asked one of the broad- 
casters after toe game. His partner 
on the field said he could not find 
out because reporters were told 
not to talk to those two players. 

Anyway, it’s my own fault. I 
wish I'd just grow up. 

Universal Press Syndicate. 




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INTERNATIONAL fTF!»A LT> TRIBUNE 
FRIDAY, NOVEMBER 14, 1997 




PAGE 10 


Promenades Add Sparkle to San Francisco Waterfront 


By Ann K. Ludwig 


S AN FRANCISCO— Bridge to 
bridge and beyond, the San 
Francisco waterfront has never 
looked better or offered more 
to visitors and residents. No longer are 
the attractions limited to Fisherman's 
Wharf, that well-touxisted half mile of 
the peninsular city's 21 miles of coast- 
line. Thanks to a shrinking military 
presence, a destructive earthquake and 
an energetic citizenry, the waterfront is 
being returned to the people. 

The Embarcadero Freeway, which 
separated the central city from its his- 
toric waterfront, was doomed by the 
1989 earthquake and demolished in 
1991. With ns removal, the shoreline 
renaissance began in earnest 
Replacing the freeway is a handsome 
palm-lined pedestrian promenade that 
passes alongside the new Sooth Beach 
Marina and Park, beneath the San Fran- 
cisco-Oakland Bay Bridge and, with a 
break near the Ferry Building, all the 
way north to Fisherman's Wharf. To the 
west near the Golden Gate Bridge, 
dozens of “t emp orary" military build- 
ings that were 50-year-old eyesores and 
acres of asphalt have been removed near 
a favorite r unning and walking path, the 
Golden Gate Promenade, winch passes 
through the Presidio. 



.but 


os' Maim and the Victonan Pier 7 have 

revivedtoe downtown waterfront 
- The Fanners’ Marias was established 
in 1993 as the first step in developing a 
permaiKmti^blknBuil^OnSatmdays, 
it draws thousands to a tent-shaded fes- 
tival that features a cornucopia of pota- 
toes, tomatoes, squash, mushrooms, 
herbs, cheeses, nuts and olive oils. 


of sea lions, which are in residence on j 
die pier’s west side in greatest number 
from January through ApriL 
Other noteworthy changes to the 
city's waterfront have taken place about 
a mile and a half west of the Fish- 
ennan’s Wharf area at Ctissy Field, , 
overlooking the Golden Gate in the 
Presidia Tnc much loved 2-mile-long 
section of the Golden Gate Promenade 
that follows the shoreline from the St 


smoiuuL mu Insured by the odors Francis YachtQub at the foot lot Baker 
of fresh-picked besbsaad fresh-baked Street and tuna to the Golden Caw 
breads, shoppers browse, taste and fiU • Bridge has long been open to ^public, 
bags to bulging. Tlwy can sample de- wife great views of the Golden Gate 
haems seasonal fere from booms op- Bridge and the fey. But wuh the mil* 
erated by the Hayes Street Grill (far itax/s esat m 1994, work was fegun 
Ie, a fresh grilled salmon BLT, that will eventually turn Crissy Field. 



Prtxxeding north toward Pier 39 
, fee wane named Herb Caen Way 
’ the well-known local colu mni st 
and his trademark ellipses . . . ped- 
estrians may succumb to the charms of 
Pier 7, a seven-year-old fishing and 
strolling pier wife Victorian lamps and 
wrought-non railings framing views of 
Yerba Buena and Treasure Islands. 

Inland, where there is now a dramatic 
skyline. Gold Rush vessels were once 
moored — excavation for the Trans- 
America Pyramid turned np die remains 

of one of them. At Pier7 fee Promenade 
Ribbon resumes and continues nearly a 
mile, almost to Bay Street- 
Foot traffic picks up along here, and 


San Francisco's shoreline renaissance has created an extensive promenade for pedestrians and joggers. 


the transfer in 1994 of die historic 
dio army post to the national park sys- 
tem, these improvements have already 
transformed the popular trail and beach. 

A tour that begins with a stroll along 
the sooth Embarcadero, in the South 
Beach area, overlooking San Francisco 
Bay might conclude with a meal at the 
newly restored Beach Chalet at the west 
end of Golden Gate Park overlooking 
the Pacific Ocean — 10 miles (16 ki- 
lometers) of glorious bay and coastline. 


mimsandstcjumus A driving, 
walking, skating or biking trip could 
begin at Pier 40, where Townsend Street 
intersects the Embarcadero at South 
Beach Harbor. Rotting piers and dere- 
lict buildings once deterred visitors 
from the south Embarcadero in spite of 
its relative banana-belt weather and bay 
views. Now, sparkling new apartment 
complexes have replaced the old share- 
side buildings, views are framed with 
palms and sycamores along the prom- 


enade,- and a new marina and South 
Beach Park lend color to the scene. Just' 
west of the park, the site of a baseball 
stadinrti scheduled to open in spring of 
2000 is already linked to downtown by a 
light-rail line on which limited service 
is expected in 1998. 

In South Beach Park, artists some- 
times set up their easels on the lawn 
beneath the colossal red and silver Mark 
di Snvero sculpture, called “Sea 
Change," that bestrides the lawn. Pic- 
nickers and dog walkers also gather 
here to relax and watch the boats. Sail- 
ing cruises are available at Pier 40 as are 
rental bikes, and tempting outdoor cafes 
refresh tire explorer. 

For history buffs, the walk north to 
the Bay Bridge and beyond is a treasure 
hunt for the 13-foot-high black, white 
and yellow pylons and bronze sidewalk 
plaques chronicling the city's colorful 
nautical past 

They commemorate die barks, brig- 
antines and schooners that once lined 
this share, as well as the men who built 
and sailed them, and the ill-feted whales 


that made San Francisco one of the 
largest whaling ports in the world be- 
tween 1885 and .1905. Stories, photo- 
graphs, poetry and drawings are repro- 
duced on the pylons, which mark 
historic locations, such as the Pacific 
Mail Dock, central point of immigration 
and departure of San Francisco *s Chi- 
nese population from 1867 to 1907. 


Ribbon of Glass 


As you proceed north, the Bay Bridge 
arches above, its suspension span cross- 
ing the fey to Yerba Buena Island, 
where it converts to cantilever-truss 
design to complete the 8.4-mile link to 
Oakland. Curving along the sidewalk 
for nearly half a mile is a ribbon of glass 
blocks lighted by fiber optic cable and 
set in concrete, some of it raised for use 
as benches or tables. Known as tire 
Promenade Ribbon, this user-friendly 
public art, designed by Vito Acconri, 
Stanley Saitowitz and Barbara Stanf- 
facher Solomon, inspires toddlers to 
climb and adolescents to jump, bat the 


majority to pause and contemplate city 
and bay views cor the passing parade of 
joggers, skaters and strollers. 

At Pier 32, near whore Brennan Street 
intersects tire Embarcadero, is tire home 
of the Jeremiah O'Brien, tire only sur- 
viving unaltered World War II Liberty 
ship. Saved from salvage in 1978 and 
carefully restored, tire ship and a vol- 
unteer crew whose average age was 72 
made news when they sailed to Nor- 
mandy in 1994 for tire 50th anniversary 
of tire invasion, after which tire O'Brien 
was moored here. You can meet the 
enthusiastic crew and learn about tire role 
of Liberty ships in tire war or simply 
enjoy an unparalleled view of tire bridge 
arid the city. From tire Jeremiah O’Brien 
yon will soon pass under tire Bay Bridge 
same 10 stories overhead, and go by the 
M’^oric frreboal station and tire popular 
new Gordon Biersch Brewery Restaur- 
ant to reach tire landmark 1898 Ferry 
Building, about a half-mile farther at tire 
foot of Market Street. The central Em- 
barcadero near the Feny Building at the 
foot of Market Street is a weak in pro- 


the site of tire Panama-Pacific Inter- 
national Exposition of 1915 and latei^ 
the first Army Air Service defense sta- 
tion cm the West Coast, into the center- 
piece of tire new pork. Instead of the 
deteriorated b uilding s and fenced stor- 
age areas near the east end of the walk, 
here one sees only tire stately Monterey 
cypress, pine ana eucalyptus. Wind- 
surfers can choose grassy areas to rig 
their boards where there was once as- 
phalt; on restored dunes, yellow and 
pink sand verbena and beach strawberry 
are string hold. A 28 -acre meadow will 
eventually replicate the historic World 
Warl grass airfield. 








S you walk west, massive bluffs 


along tire roadway 
HiU taking riders past the cruise liners to 
Pier 39 and Fisherman’s Wharf (by 
pedicab, it’s about 1 J miles and $8 a 
■person from the Feny Building to Fish- 
erman's Wharf). Construction has be- 
gun on Jefferson Street to complete the 
rail line that by the year 2000 is sched- 
uled to bring fee vintage trolleys already 
on Market Street along the Embarca- 
dero to tire wharves. 

If you have children with yon and 
they're beginning to tire, they may be 
ready for Pier 39V new Underwater 
World, where they can ride on a moving 
walkway in a- see-through tunnel as 
sharks, rays and other fish swim over 
and alongside them. Braver lads may 
prefer the new adventure films, “Se- 
crets of tiie Lost Temple” and the har- 
rowing “Smash Factory,'* where you 
buckle into hydraulic moving seats and 
brace for whiplash. Since 1989, Pier 39 
has also become the home to hundreds 


A above provide shelter from the 
wind. The two white-shingled 
buildings hugging the waterfront were 
formerly a Coast Guard station. The 
smaller one, adonnered Cape Cod house 
crisply trimmed in green with window 
boxes of red geraniums, is now home to 
the' Gorbachev Foundation State of the 
World Forum, star tenant of the new 
Presidio. Farther west, old maintenance 
sheds and a chain-link fence have fees 
removed beneath the Muffs to reveal a 
future picnic area that already affords 
incomparable views of the city to the 
east and the Golden Gate Bridge and 
Marin Headlands to the west 
Construction is expected to begin in *n 
mid- 1998 to restore a 20-acre tidal 
marsh, remove nibble from the beach, 
improve the pathway and provide picnic 
areas. 


■ *. 





■ 


J 


mi 


Ann K. Ludwig, who liver in San “ 
Francisco, wrote this for The New York 
Times. 




Visiting Miss Marple’s Haunts in Christie’s Hometown 


By iris Ihde Frey 


T ORQUAY, England — But for 
tire sweet charms ofTorquay, an 
English seaside town, Agatha 
Christie might have grown up 
an American. Her father, Frederick 
Miller, bom and brought up in Mas- 
sachusetts, married an Englishwoman 
and expected to raise his fenrily in the 
United States. The couple sealed in tire 
.popular Victorian resort of Torquay, 
temporarily they thought, while await- 
ing the birth of baby Agatha. But the 
town’s attractions caught them up and 
they never left 

Christie used her colorful hometown 
in many of her mysteries. And though 
she was bom more than a century ago, 
the places she took Miss Maiple for tea, 
Hastings and Poirot for dry martinis, 
and Tuppence and Tommy for tomb- 
stone deciphering, remain remarkably 
tetact for those who wish to revisit die 
scenes of the crimes. 

Torquay’s sheltered deepwater har- 
bor has been haven for pirates and rum 
runners, home base for tire British 
Navy, and berth to magnificent racing 
sailboats. Situated on one of England’s 
southernmost points, it is sheltered from 
high winds by seven hills and warmed 
by the Golf Stream. It is the heart of the 
area known somewhat optimistically as 
the English Riviera, and has much of 
England’s balmiest weather, many of its 
palm trees and 10 beaches. 


posedly had more European royal vis- 
itors to the square mile than any other 
place in the world. 

In 1890, when Agatha Mary Clarissa 
arrived at Ashfieid, the Millers' villa, 
this “Queen of the Watering Places" 
was a fashionable haven for rich Vic- 
torians. (Ashfieid, unfortunately, no 
longer stands.) 

A good first stop for Christie fol- 
lowers is the seaside Tourist Informa- 


tion Ceoter just off the Strand, to pick up 
a map and a Christie Mile folder 'that 


transformation Its transformation 
from a sleepy fishing village began 
when families of naval officers came to 
visit, liked the climate and stayed on. 
Doctors prescribed tire town for ailing 
patients, who began arriving in great 
numbers — Jane Austen and Elizabeth 
Barrett Browning among them. Ornate 
Italianate villas became the favored ar- 
chitectural style and Torquay sup- 


feamres a walk around the harbor and 
entitles the bearer to museum admission 
discounts. (Outside the center’s rear 
exit a handsome bronze statue of 
Christie dominates a small green.) The 
beautiful Princess Gardens, named for 
Queen Victoria's daughter Louise, lie 
between the center and tire seafront A 
pause at a bench amid the fountains, 
palm trees and lush flower beds offers a 
chance for orientation. The bench may 
be the same one occupied in “The 
A3.C. Murders” by Alexander Bona- 
parte Cust (one of Christie’s more abra- 
sive murder suspects) while he read the 
newspaper account of a body dis- 
covered farther down the shoreline. 

The remarkable building directly 
overlooking the - harbor, with ornate 
parasol-shaped Copper domes in each 
corner, is the Pavilion. Hailed as one of 
the finest examples of Art Nouveau in 
England, it arrived the same year that a 
handsome young officer came courting 
a beautiful local girt After a concert at 
the Pavilion, Archie Christie proposed 
to Agatha Miller. Not surprisingly, she 
alluded to tire Pavilion in several books. 
It was recently restored and converted 
to a mall with sho ps and cafe. 

The Princess Gardens lead onto Prin- 
cess Pier, a favorite playground for the 
author during her youth, when its 
smooth maple surface was available for 
off-season roller skating. Photographs 
of the teenager Agatha, dressed for skat- 


ing in ankle-length skirt and 
feathered hat, await viewers in i 
Torquay Museum, a handsome Victori- 
an granite building festooned with crim- 
son and gold banners. 

In 1990, to marie the centennial of her 
birth, the museum mounted an exhib- 
ition tracing tiie nearly nine decades of 
her life. The exhibition, intended to be 
temporary, remains open because it at- 
tracts visitors from around tiie world. 
The show is rich in photographs drawn 
from both the museum archives and the 
author's family, and in artifacts such as 
Rosy, her French Jnmeau dolL Life-size 
dioramas depict Christie in turn -of- the- 
century bathing costume and World 
War I nurse’s uniform. Cases are 
crammed with such memorabilia as 
used by the actors in the Poirot 
Miss Maiple television episodes — 
David Suchet’s fastidiously pressed suit 
jacket, and the bottle of lily-of-the- val- 
ley toilet water Joan Hickson used to 1 
invoke the spirit of the spinster sleuth. 


K ENTS Cavern, another spot 
with Christie connections, is 
one of the earliest known sites of 
human life in England. Animal remains 
also found there include the mammoth, 
the cave bear and the woolly rhinoceros, 
the same creatures Christie's spelunk- 
ing archaeologist discovers in “The 
Man in the Brown Suit" The forma- 
tions are geologically outstanding — 
rugged roofs and contrasting chambers 
with beautiful crystal-white, red-brown 
and green frozen water, pagoda and pipe 
organ formations. Kents Cavern was 


Two neighborhood churches figured 
in Christie's childhood. The first, St 
Saviour’s, is a small stone building that 
dates from tire sixth century. When tire 
congregation built a larger church 
called All Saints, Frederick Miller 
made a donation in the name of his 
newborn daughter. Blowsy bouquets of 
garden flowers' arranged by ladies of 
tire altar guild, incense > a fine organ and 
the staunch choir all add to the ritual of 
a Sunday morning Church of England 
service reminiscent of the ones atten- 
ded by the churchgoing Miss Maiple. 
An impressive marble font near the 
entrance recalls the baptism ceremony 
on. the first page of “The Burden” 
(written under the pen name Mary 
Westmacott). Christie was baptized 
from it. 

A short distance away, the church- 
yard of St Saviour's (now used by the 
Greek Orthodox congregation of St. 
Andrews), is deep and dark wife ever- 
greens, and ancient tombstones enclose 
it like a melancholy fence. In “Postern 


fi •***«•« 


of Fate" Tuppence and Tommy visit 
churchyard, " 


open to the public when Christie was a 
child. 


such a churchyard, hoping to solve a 
murder from inscriptions on the 
stones. 

Visitors to the Agatha Christie Me- 
morial Room in the Tone Abbey mu- 
seum follow a route nearly identical to 
the one taken by Hercule Poirot when he 
is called to view a body in “The Under 
Dog" — up broad stairs to a landing, 
along a corridor and through a door, 
then along a shortpassage, through an- 
other door and finally into the lofty 
tower room. 





r*.v 


- • . 


__ ry _ _ _ Homer Syta foe The New YoATuBet' 

The Old Harbor at Torquay, where Agasha Christie grew up. 


1 


her daughter, Rosalind Hicks, in- 
ides lace fans, a bellows, porcelain 


Id. From a schoolgirl’s viewpoint, 
touring the candlelit caves would be 
both scary and splendid, and set tire 
stage, perhaps, for her lifelong fascin- 
ation with archaeology (she met her 
second husband at a dig). Today, year 
round, storytelling guides lead tours in 
the now electrically illuminated caves. 


bric-a-brac Torre Abbey was orig- 
inally a monastery, then a private res- 
idence built in part from rubble and 
original remains, and now a museum. 
The Christie memorial room, like the 
room in “The Under Dog" has “many 
native curios arranged about.” This 
bric-a-brac of the writer’s life, provided 


figurines, papier-m&chfi pieces and a 
kit To ma' * 


se wing k it To make the room look like 
the writer’s study rather than a museum, 
its curator, Leslie Retallick, left the 
, motley collection unlabeled. A tall case 
holds _ the black ' and scarlet robes 
Christie wore when nearby Exeter Uni- 
versity made her an honorary doctor of 
letters, and her favorite wing chair sits 
by the window, as though to catch the 


light for a reader settling down with a 
good mystery. But the item that most 
kindles a visitor’s imagination is her 
black 1937 typewriter. Who would have 
thought tire old Remington had so many 
wonderful words in it? (Her total output 
was 79 books, about 100 short stones 
and 9 plays.) 




Jris Ihde Frey, who is writing a book 
about Agcaha Christie's England, wrote 
orTheN ” * ~ 


thisforTheNew York Times. 


In Bustling Buenos Aires, Spring Is Bus ting Out All Over 


■+nm 


By Kevin M. Gray 

New York Times Serf ice 




UENOS AIRES — This city is catch- 
ing its rhythm again to an im- 
proving economy that has put money 

i l--^. * 1 A M 


back into the pockets of Argentines. As 
growth, new 


result of the growth, new restaurants have 
cued and tiie city’s nightlife has been re- 
rig orated, And the timing couldn't be better. 
November is springtime in Buenos Aires, and 
sre is no better season to stroll its wide av- 
ues, crowded shopping streets and leafy pa±B. 
om San Telmo to Recoleta to Palermo, tire 
y’s many barrios, each with its distinctive 
aracter, begin to perk up with street fairs and 
ill-dressed Argentines after a winter slumber. 
Even though it is one of tiie most expensive 
ies in the world it’s also one of the safest 


n April to 

world’s top performers have graced its stage: 
Nureyev, Pavarotti, Toscanini and the soprano 
Leona MitchelL 

Highlights of the spring schedule: The Phil- 
harmonic Orchestra of Buenos Aires will per- 
form Nov. 17, 18 and 24, and Dec. 1. Under the 
direction of Mark Ennler, tire theater’s opera, 
company wfll' perform Tchaikovsky’s “Eugene 
Onegin" on Dec. 2, 5, 7, 9 and 11. The Colon 
Ballet Company will perform Tchaikovsky’s 
“Nutcracker” Dec. 19, 20. 21, 23 and 26. Tick- 
ets; (54-U 382-5414, fax (54-1) 382r4009. 


Throughout November, championship games 
t - ■« t i j Hippodror 


of polo will faeplayed at the 
Palermo Park. The competition is" world-class. 



, furthering its reputation as a walker’s city. 
Widely regarded as Argentina’s cultural gem, 
gilded Colon Theater, which borders the 
in thoroughfare of Avenida 9 de Julio, offers 
array of ballet, opera and concert perf cr- 


ime in 

Palermo Park. 

Tickets, starting at $7, are available at tire 
podrome the day of the match or through " 
eteck, a local ticketing agency: (54-1) 323- 
7272. 

The colorful barrio of La Boca along the 
Riachuelo waterway is home to working-class 
Argentines. Young artists and tango dancers line 
the pedestrian walkway of the caminito. A 
cornerstone of tins area’s revitalization is tire 
Proa Foundation, 1929 Avenida Pedro de Men- 


doza, (54-1) 303-0909, a new addition to the 
city’s art world. From Nov. 22 through Jan. 10, 
an exhibition of the works of the Italian mod- 
ernist Mario Sirota, paintings, murals and the- 
atrical designs done between the world wars, 
will be on view. 

The Museum of Fine Arts, (54-1) 803-0802 
houses the countiy’s largest ait collection. 
Shows this month and next include works fry 
Hermenegildo Sabat, Argentina's foremost 
poetical cartoonist and illustrator, and treasures 
from the Vatican Library. The museum is open 
Tuesday to Sunday, 12:30 to 7:30 PJwL, Sat- 
urday 9:30 AM. to 7:30 PJd., dosed Monday. 
Admission is free. 


in itself, is the burial ground for Argentina’s elite. 
Each tomb has a distinctive architectural style 


£*■“. «*uu uas a oisuncave arcnitecturai style kno^TSiaUy^di^lSe ' 

housing several generations of a family. A pop- servedat one of the eitv V m j ***’ 

steaJ&ousesf is ** 

One of the eitv’« mner 1 



Picnic in yh* Park 


Palermo Park provides a reprieve from 
sprawling urbanity. Here one can join a pickup 
soexesr game, go for a jog, ride along the bike 
path or enjoy a picnic of sandwiches de miga — 
ham and cheese on white bread without the 
crust 

In tire heart of one of the dty's tidiest nedgh- 
nofiroods. tiie Recoleta Cemetery, almost ‘a city 


reste here after an odyssey that took it to Europe 
and back. To find her tomb ask a caretaker for tne 
Duarte family or look for tire crowd of fens. 

Every Thursday around 3 P.M., the Mothers 
of the Plaza de Mayo, wearing white scarves, fill 
fee square in front of the presidential palace, the 

Casa Kosada, to remember their childre n who 
disappeared (hiring the “dirty war,'* a time of 
military rule. 

To understand the fanaticism that surrounds 
soccer here, one must experience the passion and 

neat of a m a tc h. Buenos Aires is now home to 
Diego Maradona, once considered the world’s 

hestnlaver Ffohae fivet-rafrnul 


4 :T f gi CllOlCC. 

t T^j^pnlar is Cabana Las 

S? Avenida A_ Moreau de Justo. 


?; "wreuu ae Jus to. (54-1) 
PuertD ^ 4adero ’ 0 recently restored 
h J ome to trend ? restaurants 
“ c V°^.* at to recced the Recoleta as the 
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facing drag charges. Fervent fens are counting 
on his retain to play in the team's stadium, (54- 
1) 362-2050, in La Boca. Because general-ad- 
mission tickets are in areas that can become 
rowdy, reserved seats, priced from $40 to $80, 
are suggested for tourists. Games are scheduled 
fbrNov. 19 and 30 and Dec. 10 and 21. 


Ar S ftflline Efc centers oo 
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\}P jJi L S* l&o 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14* 1997 


PAGE 11 


r< i 


tifi* 


& 


THE CAR COLUMN 


MOVIE GUIDE 


I'!,. 


* The New VW Golf: Still a Champ 


By Gavin Green 


A NEW Golf War is 
toa&ng out, this 
^ne in Europe. The 
Jarget is the car that 
nas been Europe’s best-seller 
: for more years than many mo- 
tor makers can remember. The 

players are most of the world ’s 

. carmakers — including Mer- 
■ cedes-Benz, whose novel new 

. A-class tries tooutdriveVW’s 

best-seller by extracting ex- 
traordinary space from a car 
■- that’s extraordinarily small. 

(On Tuesday, Mercedes said it 
was suspending for three 
months shipments of the A-class for re- 
engineering to stop the cars from tropins 
over during sharp turns.) 
i v ^ , riva k line up to try to topple 
p the Golf, the champ hasn’t exactly fen 
resting on its laurels. Now there’s a new 
- Golf, although at first you might be 
■- excused for wondering just how new 
- It’s yet another evolution — the fourth 
— of the original Golf style, which goes 
back more than 20 years. It’s h andso me, 
- and is more about form than adornment 
- — like all great designs. Despite the 
- plaudits, it looks so fa miliar and re- 
assuring that, on the road, few pick it as 
the successor to the nearest thing that 
Europe has to a family cult car. 

Better Value 

The floor pan and much of the sus- 
. pension are shared with the Audi A3 and 
- the Skoda Octavia, although, as these are 
all VW-group cars, moral copyright for 
the platform belongs to the Goff. En- 
gines are either unproved carryovers or, 
as with our V5 test car, brand new. The 
latest car is longer, roomier, better made, 
better equipped, better looking and yet, 
in most markets, only marginally pricier 
— and therefore discemibly better value 
— than the old Golf. • 

That V5 engine is an oddity. Not that 



many years ago, such an arrangement 
would have offered about as much equi- 
librium as a set of barbells with three 
weights on one side and two on the other. 
Yet, through the wonders of modem elec- 
tronics and Thanks to the V5’s unusual 
engineering layout, it works superbly. It 
is smooth, pleasingly musical when 
pressed, and serves up excellent perfor- 
mance for so small a car. Whereas the old 
VR6 Golf, which the VS partially re- 
places — the new VR6 is still six months 
or so from being introduced — often felt 
over-powered, like a Mini with a hot-rod 
engine rammed under the hood, the V5 is 
beautifully balanced. It mates superbly 
with che five-speed transmission. The 
upshot is silken drive-train refinement 

The handling and grip are good, even 
if there is still less intimate interaction 
between driver and steering wheel than 
on the very best French cars, such as the 
Peugeot 306. The ride is nicely supple, 
and the cart feels strong and well made. 

A few days spent in the cheaper 110 
BHP turbodiesel version also proved that 
the V5 isn't the only quality engine op- 
tion. That VW turbodiesel — also fitted 
to the Audi A4, the Passat and the Sharan 
— is probably the world's best diesel. It 
works superbly in the Golf, offering 
genuinely eager performance and a pleas- 
ingly gruff engine note with the added 


RECORDINGS 


bonus of superb economy. 

The cabin is terrific. Fam- 
ily hatches still usually have 
a plasticity, boilt-down-to-a- 
pnce feeL Owners are con- 
sistently reminded that the 
Styling guys cared much 
more about die outside — 
which everyone .else sees — 
than the inside, where the 
poor owner spends most of 
his or her time. Not on the 
Golf. This VW, like its big 
broth® - the Passat, enjoys 
plastics and fabrics ofBMw- 
Mercedes A-class. There are 
numerous nice touches, such 
as flip-down front seat arm- 
rests — options on most Golf 
models, standard on others. The 
switches feel and move like quality 
ware, and there’s plenty of back seat and 
trunk space. There’s also an interior 
handle, to facilitate trunk lid closing, but 
it was clearly designed by a tall man. My 
wife, who is of average height, bad dif- 
ficulty reaching it. 

T HERE’S little that's novel about 
the latest Golf. There are none of 
tire newfangled features found on 
its latest rival, the Mercedes A-class; 
nothing that suggests that the conven- 
tional car, as a breed, is on the brink of 
great change, which it almost certainly 
is. Rather, the latest Goff is a beautifully 
honed and developed interpretation of a 
totally fa miliar concept 
It is proof that cars do not have to be 
innovative to be great — for, in its all- 
around execution, this is a truly fine car. 

• Volkswagen Golf V5. About 
$29,000. V5 engine, 2.3 24cc, 150 BHP 
at 6,000 rpm. Five- speed manual trans- 
mission. Top speed: 210 kph (131 mph i). 
Acceleration: 0-100 kph in 8.7 seconds. 
Average fuel economy: 92 liters/100 
km. 

Next car column: the Porsche 911 

Gavin Green is the editor in chief of 
Car magazine. 


Bean 

Directed bv Mci Smith. UX.- 
UJS. 

His name is Bean, and he's 
already a legume in his own S 
lifetime. A bulgy-eyed, la- 
conic character in high-wa- 
termark trousers, goofy 
brogues and a shin and tie, 
who walks from calamity to 
calamity, he’s the highly pop- 
ular star of a British television 
comedy series. His movie de- 
but, “Bean,” has shot up like 
a beanstalk worldwide. He 
also has a strong cult follow- 
ing in the United States, as 
avid viewers of his public- Ewan A 
TV-aired shows will attest. 

Whether this movie connects with a 
wider, American audience remains to be 
seen. Bean, played by Rowan Atkinson 
(the jittery priest in 4 ‘Four Weddings and 
a Funeral’’) is weirder than cute — a 
possible setback for anyone trying to 
attract American moviegoers. On the TV’ 
show, at least, he has a mean, self- 
serving streak. Obviously worried about 
this, scriptwriters Richard Curtis (who 
co-created Bean) and Robin Driscoll 
have smoothed over Bean’s less-than- 
savory qualities. But even through this 
PG-13 filter, any Bean is good Bean. 
When the man gets going, he's scream- 
ingly funny. {Desson Howe. H P) 

On Connait la Chanson 

Directed by Alain Resnais. France. 

Marc (Lam ben Wilson), smooth as they 
come. has managed to sell a vast fish- 
bowl of an apartment to Odile (Sabine 
Azema), without mentioning that the 
view of Paris will soon be obstructed by 
a high-rise. Everybody in Alain 
Resnais's new film, has something to 
hide, a lie as tall as the Eiffel Tower, 
secret sickness, guilty love, fear of loss. 
These delicate creatures, funny and fa- 
miliar, are played by a formidable troupe 
that includes Piero: Arditi and .Andre 



Ewan McGregor in " A Life Less Ordinary 

with a Dussoliier. along with Agnes Jaoui and 
ins to be Jean-Pierre Bacri. who wrote the script. 
Vtkioson 1x1 a bold move. Resnais has them all 
jags and brea ^ oul m son S« using playback to 
ute — a express the inadmissible; it’s the secret 
rving to life of Walter Mirty erupting in polite 
n the TV’ society. The surprise is that the voice of 
in. self- Johnny Hallyday or the more melan- 
ed about choly.DaJida should surge forth from 
tis (who actors who stay in touch with their char- 
Driscoll acters — the snatch of song is just a 
jss-than- moment's relief from worried lives, 
ugh this These middle-aged people seem to be 
d Bean, childless, perhaps because they are 
scream- themselves children, swimming in 
we. H ’P) circles. Odile. who boasts that she never 
took an aspirin in her life, is played to the 
ON T by .Azema. all berry eyes and shrill 
ice. certainties, her sleek head tilled in the 
t as thev direction of His Master's Voice. At the 
ast fish- housewarming for the ghastly apan- 
(Sabine meat, her friends make a mess of her 
that the fishbowl illusions. The Master has 
acted by pulled off a tour de force, mixing old 
Alain themes of memory and desire to come up 
thing to with a new tune, beyond the conventions 
Tower, of comedy, tragedy, or the musical as wc 
of loss, know it. t Joan Dupont. IHTi 

and fa- 

e troupe A LIFE LESS ORDINARY 

1 .Andre Directed by Danny B.nlc. I ' K. 


ARTS GUIDE 


Anxious for a quickie follow- 
up to "Trainspotting," the 
creative team of ~ Danny 
Boyle, Andrew Macdonald 
and John Hodge twho also 
made “Shallow Grave”) has 
set off without a script. In 4 *A 
Life Less Ordinary,” a love- 
on-thc-run comedy, Ewan 
McGregor and Cameron Diaz 
are shoved onto the movie 
equivalent of a handcar, then 
forced to pump their way to- 
ward the hip. edgy likes of 
"Gel Shorty." "True Ro- 
mance” and "Thelma and 
3-rm'ti.Mrt' Louise.” They never get 
there. This is one little engine 
that couldn’t — and shouldn’t 
have tried. McGregor is Robert, a janitor 
who just got fired. Diaz is Celine, the 
bored, listless daughter of the industrialist 
tlan Holm i w ho canned him. Upset over 
being replaced by a cleaning robot. 
Robert storms the boss’s office, clutching 
one of those metallic creations. After he 
tries, unsuccessfully, to smash the robot 
through the w indow . Robert is pinned 
down by security guards. But Celine, 
who happens to be there-, kicks one of the 
guards* dislodged guns toward the in- 
stigator. Before youVan say “Stockholm 
syndrome.” Robert is leading Celine out 
of the building at gunpoint, and we're into 
the dullest post-' "Bonnie and Clyde" ro- 
mance in movie history. Influenced by 
Michael Powell's heaven-aiwt-earth ro- 
mance. "A Matter ol Life and Death" 
(whose British title was “Suirway to 
Heaven" 1 . screenwriter Hodge throws in 
a subplot in which angel cop*. O’Reilly 
(Holly Huntcrt anil Jackson < Deinn 
Lando) descend to Earth to nuke sure this 
budding romance takes root. To make 
matters even worse, director Boyle in- 
ftises this kidnapping plot with cloying 
cuteness. McGregor and Diaz are likable 
performers and. indifferent ways, they're 
sexy too. But not in this movie. And 
tunnv. ihev are noi.i/V.v.Vi >r, //»m c. H7’» 


• VANESSA-MAE “Storm” (EMI): There are 

classical critics who say that this sort of com- 
bination of acoustic and techno elements, of the 
sonata form with sound bites, is the direction 
classical music is going to have to take to stay 
alive. We are reminded that even Bach displayed 
an interest in technology when he went around 
testing new organs. Born in Singapore, this Asian 
kitten looks sexy in the tight-fitting red dress she 
likes to wear while fiddling on stage and in videos. aHutfcm 

Unfortunately, you can’t see it while listening to a Ernst Reijseger 
record, although she eerily resembles Michael 

Jackson on some of the publicity photos in the package. Some en. And 
of her music resembles Jean-Mi chel Jarre. Her music may be and beauty 
dumb but it’s not vicious. 

• ERNST REIJSEGER “Ccdla Parte” (Winter & Winter); ; 


This, oh the contrary, may be intellectual but 
it's not boring. The cellist Reijseger combines 
classical presentation and free improvisation 
as one concept. The sound may indeed be "clas- 
sical,” but the content is more inclusive. Reijs- 
eger, who won the Bud Award at the 1 995 North 
Sea Jazz Festival, is part of the rich contemporary 
music scene in Amsterdam. He has collaborated 
with Yo-Yo Ma, Han Bennink, Misha Mengel- 
berg and Louis Sclavis, among many others. He 
demonstrates that "freedom” does not neces- 
sarily include the freedom to shock, hurt or firight- 
it does include a wide swath of swing 
All is one. 

: - • - Mike Zwerin/IHT 


ROOKS 







a *-■**•- 


Jgp. ENDLESS FRONTIER: 

Vannevar Bash, Engineer of the 

♦ ’ American Century 

By G. Pascal Zachary. 518 pages. $32 JO. 
, Free Press. 

Reviewed by Gregg Herken 
ri ■ JR LL that has been written about the 
■ • v #% making of the atomic bomb tends to 

ignore the fact that the Manhattan Project 
was primarily an engineering effort His- 
v» torians have lavished most of their at- 
j_ . tendon upon the more temperamental — 
rv . - and hence colorful — physicists involved. 

~ ■ G. Pascal Zachary’s ‘ l EndIess Frontier,” 
__ - the first biography of an engineer who 
ip# 6 ** . was once the doyen of America's sci- 

entific establishment takes a major step 
. toward setting the record straight 

• ^ . Vannevar Bush was a prototypical 

i Boston Y ankee whose father was a Uni- 
verbalist preacher and grandfather a sea 
captain. Bush’s flinty persona and wry 
humor reflected those origins. Educated 
at Tufts and MIT, Bush received a PhD. 
in electrical engineering in 1916 and set 
about to broaden his horizons. 

An inveterate tinkerer. Bush invented 
before he was 40 a device to detect sub- 
marines. a code-breaking machine, a sol- 
ar-powered pump, and the "differential 
analyzer” — an early, mechanical ver- 
sion of the computer. In the raid- 1920s, 
he co-founded Raytheon and was made 
wealthy by the subsequent growth of the 
electronics giant. In 1939. on the eve |of 
World War II, he became president of the 
Carnegie Institution in Washington. 

Yet Bush’s greatest invention was not 
a thing but an organization, the National 
Defense Research Committee, which he 
and President Franklin Roosevelt cre- 
ated in time to mobilize the country s 

scientific brainpower for the conung 

• conflict. The quality that Bush typified 
and that he valued most — the ability 


... j 


. \l 


HI hi 1 ' 


"to think straight in the midst of com- 
plexity” — was key to his and the 
NDRC’s . success in jump-starting the 
nascent atomic bomb project, which 
hidebound bureaucrats and flighty phys- 
icists had left dead in the water. 

Bush also had the talent to recognize 
his own limitations. 

“Most of this was over my head,’ ’ he 
readily admitted to physicist colleagues 
who were probing the mysteries of fis- 
sion. Accordingly, Bush teamed up with 
another Bostonian — James Conan t. a 
chemist and president of Harvard — 
whom he described as a ” square-shoot- 
ing, levelheaded liberal.” Tne pairing of 
Bush and Conant created one of the most 
remarkable intellectual partnerships in 
the modern history of science and tech- 
nology, but it receives disappointingly 
little treatment in this otherwise excel- 
lent book. Together, the duo not only 
oversaw development of the derisive 
weapons of victory — radar, the prox- 
imity fuse, and the bomb — but also 
became Roosevelt’s de facto science ad- 
visers. 

“Science — The Endless Frontier” 
was the 192-page plan for postwar fed- 
eral support of scientific research that 
Bush prepared for Roosevelt as victory 
approached; he intended it as his leg- 
acy. 

B USH wanted peacetime govem- 
ment-funded research to “supple- 
ment” rather than compete with work 
done by the military services. Predict- 
ably, however, the Pentagon viewed 
Bush’s plan as a threat, and the cronies 
and pols who surrounded FDR’s suc- 
cessor, Harry Truman, also feared that 
Bush’s real goal was a technocracy, a 
government by experts. 

Blocked at every turn. Bush could do 
little but complain and wax nostalgic 
about the halcyon days of the war. He 


BRIDGE 


finally left the government in 1945. 

Over time. Bush’s hardheaded prag- 
matism became an ossified suspicion of 
the new. He was most famously wrong 
about ballistic missiles — “I think these 
things will be just too expensive and 
inaccurate to use, even if they could be 
built" — but his attachment to the ana- 
log technology of his differential ana- 
lyzer likewise blinded him to the po- 
tential of digital computers. 

In retirement. Bush was saved from 
becoming simply a curmudgeon by two 
courageous acts that received little or no 
public attention. 

In 1952, while on a blue-ribbon panel 
studying disarmament. Bush tried to 
postpone the explosion of America’s 
hydrogen bomb until the possibility of a 
ban on such tests could be explored by 
Truman’s successor. Two years later. 
Bush spoke oul in Robert Oppen- 
heimer’s defense at the latter’s security 
hearing, where the physicist was being 
pilloried for his opposition to the H- 
bomb. While for naught. Bush’s heroic 
stand at the Oppenheimer hearing was 
arguably his finest hour. 

In an era when science as well as 
history is said to be only a reflection of 
changing cultural values, Zachary's 
book gives a glimpse into a simpler 
time. 

Vannevar Bush was the exemplar of a 
generation that has now vanished. Bush 
evoked the attitudes and standards of 
that generation when he wrote, in 
December 1940, of standing "at the 
mouth of the cave with a few strong men 
of the clan armed with stones axes 
against a hostile world.” 

Gregg Herken. a historian at the 
Smithsonian, is writing a book about 
physicists Ernest Lawrence, Robert Op- 
penheimer and Edward Teller. He wrote 
this for The Washington Post. 


Brussels 

Palais des Beaux- Arts, tel: (2) 
507-8466, closed Mondays. To 
Jan. 4: "Amnesia, Responsabilite 
et Collaboration: Willy Kessets, 
Photographs." Works by the Bel- 
gian artist (1878-1974). After (Ves- 
sels' conviction for collaboration 
after World War II. his photographs 
and photomontages that had been 
acclaimed as representative of 
Belgian modernism of the 1930s 
and '40s were long censored. 

■ BRITAIN 

Edinburgh > 

National GaBery of Scotland, tel: 
(131) 332-2266. open daily. To 
Feb. 15: ■‘Discovering the Italian 
Baroque: The Denis Mahon Col- 
lection." Bnngs together 17th- and 
18th-century Italian paintings that 
are part of the art historian’s col- 
lection. The core of the exhibition is 
a group of paintings by the Bo- 
lognese artists Guercino and 
Guido Reni. 

London 

Hayward Gallery, tel: (171) 928- 
3144. open daily. Continuing/ To 
Jan. 4: “Objects of Desire: The 
Modem Still Ufe." Traces the 
evolving language of modem art 
through still lifes. 

Royal Academy of Arts, tel: (171) 
439-7438. open daily. To- Feb. 8: 
"Victorian Fairy Painting." Ex- 
plores the passion for fairies and 
the craze for the supernatural Thai 
took hold of artists and writers from 
the early 1 9th century to the out- 
break of World War I. 

M CANADA 

Toronto 

Art Gallery of Ontario, tel: (416) 
979-6648. dosed Mondays and 
Tuesdays. To Jan. 4: "Plains In- 
dan Drawings. 1865-1935: Pages 
from a Visual History." Late 19th- 
and early 20th-century Native 
American drawings made on 
ledger paper depict personal his- 
tories and momentous events, at 
the time when the Indians were 
succumbing to pressures from the 
United Stales military and Euro- 
pean settlers. 

■ DENMARK 

Humlehaek 

Louisiana Museum of Modem 
Art, tel: 49-19-07-19, open daily. 
To Jan. 11: “Alberto Savinio: Paint- 
ings 1927-1952." 30 of the Italian 
painter's works. Savmio (1891- 
1952). brother of De Chirico, cre- 
ated mythological compositions, 




still lifes and landscapes that com- 
bined abstract and figurative ele- 
ments. 

1 FRANCE 

Lyon 

Palais de la Bourse, lei: 04-78- 
33-46-59, closed Mondays. To 
Nov. 29: "Arts Japonais: Peintres 
et Ca II ig raphes d’Aujourd'hui." An 
exhibition of contemporary Japa- 
nese calligraphy and painting, with 
works by 30 calligraphers and 
three painters: Hideki Noh. Kazuo 
Yamakawa and Keido Hiratsuka. 

Pams 

Musee Marmottan, tel: 01-42-24- 
07-02, closed Mondays. To Feb. 
28: "Berihe MorisoL" Impression- 
ist works by Edouard Manet's srs- 
ter-in-taw. that were created in the 
1 870s and 1880s. 

Grand Palais, tel: 01-44-13-17- 
1 7. dosed Tuesdays. Continuing/ 
To Jan. 26: “Geoiges de La Tour, 
1593-1652." A survey of the 
French painter's works, and copies 
of paintings that have disap- 
peared. 

Petit Palais, tot: 01-42-65-12-73, 
dosed Moncfays. To Feb. 1 5: “Mari- 
anne et Germania, 1789-1089: Un 
Siede de Passions Franco-AIte- 
mandes." Documents the history of 
Franco-German political and cul- 
tural relations, and their transfor- 
mation as German nationalism in- 
creased. Features paintings, 

drawings and sculptures as well as 
Bierary and musical documents. 
Salle Pleyel, tel: 01-45-61-65-89. 
Nov. 14 to 22: "Paris de la Mu- 
sique." First performances ol 
works' by Tristan Murail, Jean- 
Francois Zygel. Krystof Maratka 
and Pascal Zavaro are feaiured Dn 
programs with works by more es- 
tablished 20th-century com- 

posers, from Sibelius to Ellington, 
in 11 concerts. 

B GERMANY 

Hamburg 

Deichtorhallen, tel: (40) 32-10- 
30, dosed Mondays. To Feb. 1: 
“Francis Picabia: Das Spatwerk. 
1933-1953." Lale paintings and 
drawings by the French artist 
(1879-1953). During his last 20 
years. Picabia alternated between 
figurative and abstract styles and 
was accused of betraying the av- 
ant-garde with his photoreafisi 
nudes. The exhibition win travel to 
Rotterdam. 

B JA PA N 

Nagoya 

Nagoya City Art Museum, tel: 
(52) 212-0001. dosed Mondays. 


To Dec. 14: “J.M.W. Turner: 1775- 
1351." Approximately 100 works 
by the British painler in oil and 
watercolor. 

Yokohama 

Yokohama Museum ol Art, tel- 
(45) 221-0300. dosed Thursdays. 
Dec. 24. Dec. 29 to Jan. 3. To Jan. 
15: "Louise Bourgeois: Homesick- 
ness." An exhibition by (he French- 
bom Amencan artist, including 70 
sculptures, paintings and install- 
ations. 

M LUXEMBOURG 

Banque Generate du Luxem- 
bourg, tel: . dosed Saturdays. To 
Dec. 7: "L 1 Autre Visage: Masques 
Africains de la Collection Barbier- 
Muller." More than 50 Afncan 
masks on loan from the Geneva 
museum. The exhibition focuses 
on masks that are used during ini- 
tiation rituals, or in secret cere- 
monies. 

M SWITZERLAND 

Geneva 

Petit Palais, tel; (22) 346-1433, 
open daily. To March 1: “German 
Expressionism; From Kirchner to 
Kandinsky." More than 100 paint- 
ings. gouaches, pastels, watercot- 
ors and sculptures bear witness to 
the artistic creativity of the Expres- 
sionists. Kirchner, Heckel. 
Schmidt-Rottluff. Marc, Pechstein 
and Kokoshka among others used 
strong colors and often distorted 
shapes to heighten the emotional 
impact of their works. 

Zurich 

Kunsthaus Zurich, tel: (1) 251- 
67-65. dosed Mondays. To Feb. 
15: "Femsicht, Waller Bosshard: A 
Pioneer ol Modem Photojournal- 
ism." The Swiss photographer 
(1892-1975) is best remembered 


lor tvs reportages on Gandhi ana 
Mao. on tho war oohvecn Japan 
and China, and forhis expeditions 
into Tibet. Turkestan and tnr.er 
Mongolia. He later covered World 
War ri on the side ot the Allies 

■ UNITE P~S TAT Ts~ 

New York 

American Museum of Natural 
History, tel: <212) 769-5800. open 
daily. To Apnl 26. "The Nature of 
Diamonds." Explores ait facets of 
tne mineral, frem ns geological ori- 
gins to its place in history, an ad- 
ornment and literature. Also cn 
show are teweis from Lisbon and 
from Ihe Kremlin m Moscow. 

Washington 

National Museum of American 
Art, tel: (202) 633-8996. open 
daily. To March 29: "Ansel Adams: 
A Legacy "115 photographs span- 
ning the career ol the American 
artist (1902-19841 The subjects 
range in subiec! matter from land- 
scapes lo portraits and almost ab- 
stract close-ups ol nature. 

CLOSING SOON 

Nov. 16: "L'An d'fmiter Falsific- 
ations, Manipulations. Pasticnes." 

Musee d'Art et d'Histoire.. 
Geneva. 

Nov. 16: "Eve Arnold - In Retro- 
spect" and “Women in White: Pho- 
tographs by Lady Hawarden " 
Scottish National Portrait Gal- 
lery, Edinburgh. 

Nov. 16: "Rembrandt: The Blinding 
ot Samson." The National Gal- 
lery, London. 

Nov. 16: "William Hogarth: The 
Artist and the City.” The Whit- 
worth Gallery. Manchester. 

Nov. 16: "Asterix. the Exhibition.' 
Musee des Beaux -Arts. 

Montreal. 








fvl f’ 

l - •// ter 

t •»■*/* *4- Lfii-'/rotiornt.' • Wurr.1 


I^JJlENDEZ-VOUS WITH A \TNTNER 

Cooking demonstration and wine taxiing 
Aloxe-Corton. Capita in Gagnerot 
Tuesday, November IS: 7:00-10:00 p.nu 550FF 
For reservations, telephone .- 01 -15 16 50 50 



. hotel- new otani. 

RIVER. 


By Alan Truscott 

E DGAR Kaplan, who died 
in September, was an ex- 
traordinary man who rad 
more for bridge in every way 
than anyone else in the game s 
history: player, teac “2* 

writer, editor, system-maker, 
administrator, commentator 
and lawmaker. 

Kaplan never won a world 
title, although he canw close 
on two occasions Oneofthem 
was at the Olympiad!? Dtan- 
‘ ville, France, in 196S. when 
the American team lost nar- 
rowly in die final to die Italian 
Blue Team. The diagramed 
. deal, played in die qualifying 
round allowed him to demon- 
strate his snperb card play. 

This was before transfer 
bids became popular, so Ka- 


plan became the declarer in 
four spades sitting South. 
West Jed the ace and jack of 
diamon ds, and die declarer 

NORTH 
*AK4 
0 A 975 
0 Q82 
* AKfi 


VESTfD) 
A 1072 

OKJ42 

6 A J 10 S 7 6 

*- 


EAST 
+ Q8 
b ID B 
OK54 
A J 10 9 7 4 3 


SOUTH 

* J8653 

<?QS3 

P3 

4Q952 

Neither side was vulneraMe. 

The bidding: 

Vfea North East -South 

pass 2 N.T. Pass 3 4 

paw 4 4 Pass Pass 

Pass 

Wet led the diamond ace. 


ruffed. He cashed the top 
trumps and could have mark* 
the contract, double-dummy, 
by finessing the heart eight and 
eventually playing the queen 
to pin die 10. Instrad he raffed 
the diamond queen to reach 
the position shown at righL 
Drawing the missing trump 
would have been fatal. In- 
stead he led a dub to the king. 
If West ruffed he would be 
forced to lead from the heart 
king or give a raff-and-sluff. 
So West discarded, and dis- 
carded again when South won 
with the king and played the 
ace. Then a dub to the queen 
posed the same dilemma, and 
West discarded again. But 
now the last club was led, 
threatening to ruff in dummy, 
and South could not be pre- 
vented from making 10 
tricks. 


In the replay North was de- 
clarer and the opening club 
lead was ruffed. West underled 
the diamond ace and East was 
able to win the king and give 
his partner a second ruff. The 
defense scored a heart trick 
eventually for down one and 
10 imps to Kaplan's team. 

NORTH 

*4 

OA975 
0 — 

*AKfi 


„• J Hotel new otani \ 


US?-.! 


. fan 


Vl ' 




&>or Quey 


, WEST 
ilO 

9KJ42 
$10 8 7 

*- 


EAST 

<7106 
0 — 

*J 109 7 4 3 


-w ca 




SOUTH 

* J 

0Q83 

«- 

4Q852 


Gwxsown 


: MwWkJ BMd. Slngapmimn. ^ 3feUs202 » ssota, 
W.' Apotto/Galileo^ 




PAGE 12 


DTTERNATIONAL HERALD TRIBUTE, FRIDAY .NOVEMBER 14, 1997 



Lkill THE INTERMARKET 


S' +44 17! 420 0-HS 








mam: 


etAJsm 


^HARMING . 9^7QTELS .% P/A pK 


RESIDENTIAL REAL ESTATE 


THREE CHARMING 
PARISIAN HOTELS 
EACH WITH A COURTYARD 



HOTEL DE L'ABBAYE 

Saint-Germain 

10, rue Cassette A 

75006 Paris 


TeL: (1)45.4438.11 

bta At 


l 


Cable Abotel 
Ftoc (1)45.48.07.86 
An 18th century towhouse between 
courtyard and garden offering b refined 
mbcture of tradftoo and modam comfort 
In the heart of the fashionable Left 
Bank quarter, 44 rooms. 4 of which are 
suites with private terraces. 


SELECT HOTEL 

1 pL de la Sorbonne 
75005 Peris 
TeL: <1)4634.1430 
Fax: (1)463431 .79 
E-mail:SetecLHotel <9 wanadoo.fr 



Contemporary elegance In the hBart 


of the Lathi Quarter. 67 rooms + i 
duplex suite offering the perfect mtx 
of modem comfort and Old World 
charm. The Interior garden and 
fountains add a soothing touch to 
this special hotel. 


UNION HOTEL ETOXLE 
44, rue Hamelln, ... 

75016 Paris vVLL/4 

TeUjl) 4533.1435 



and 


Tbe 611394F 
Fax: (1)4755 94 79 

42 large, pretty rooms 

residential apartments overlook™ a 
private garden on a small, calm 
street near Etoite. The perfect spot 
for business, entertainment and 
shopping. Private. bar. Excellent 
service. 


Saint (Dominique 


flraeSt-DofnHque, 75007 Paris 
Tel.: 4-33(0)1 4705 51 44 
Fax: +33(0) 1 47 05 81 28 


Between the Eiffel Tower and 
Les Invalides, set in a 
converted convent of the 1 8th 
ceoL, with a Dower filled yard 
offers yon welcome and service 
with ns 34 charming rooms, 
with private bathroom. T.V. 
Cable, mini-bar. telephone. . 


BESSOUrS ^ST-CERMAIN 


Close to Musrie d’Orsav, and the 
17th eeriL 


Louvre, a charming 


Townhouse, beamed (filings, vaulted 
cellar, bar/breurast r 


room, id welP 

equipped comibnable rooms with full 
bath, nair dryer, direct dial phone, 
obi e-TV, mdmdual safe deposit box. 

— Airconditioitned — 
Breakfast induced I Min. 3 nights} 
*** 

28. roe deLffle- 75007 PARIS 
TeL +33 (0) I 42 60 73.79 
Fax* 33 (0) I 492705 55 


HOLIDAYS £ 


DISCOUNT TRAVEL 





In fee heat of Pais, between La Chtmpe- 
Bjriaad The Lame mtem * aoaa daw 
boat tae Opn end Ae baton tadpn of 
Fa bowg St-Hnwart 
The eonfatoHe ram 
hive nr-ctrafiticmcg 
ad n sound proof. 

‘Facilities/serrica 
ere fcnty, axrierge 24W2ft., tidat tenia. 
Spcctii wdoonr for ffaiM Tritwne nadoi" 



T* +31(9)14260X14 
Fan +13 (9)1491504 73 
Em&MatfMQd&JKkniAfr 


U.S.A. 


■nytoitotoi ^CLES 'BEAUX LOQIS 

"ESSST &BIS 

bra Louvre Ihnan and 

Placode la Cooc&nto 




Hospitality , Elegance, Comfort 


H6tel Louvre St Roma in 

5-7iusSaln£-ftocfi. 

76001 Parts 

TnLOl AftL3t.70 -Fax 01.4230.1069 

' 34 finely appointed rooms d with 
martha bathrooms, cable TV. 
minforas, In-room sria, hafnhyere. 


Hotel du Continent 

30. me du Mont-Thabor 

75001 Paris 
TeL 01 .4260.7532 -Fax 01 .42.61 5222 
‘28 refined, (ufy air'Corxfitloned, 


eabte TV, mfrtibflts, safe. h«r dryas. 


LBX Readers Special Package 
“Winter Escapade In Pam” 

Special Rate: 635 17 for two pas. oac night ail jnduded 
Spcdal Packages on Keqpest (for a minimum of two nights say) 
(“Winter Rates" includes American Buffet breakfast and all taxes) 
Valid from 14 November 1997 to 31 March 199a 

AU major Credit Cards Accepted. 


mi 


mfhnnm iL4'|f? 



Stepping out of your hotel, on tbe left there's the Tbddtre de 
rOd&m, tbe Luxembourg gardens and, just behind 

Montparnasse and its cafes. On tbe rtg/pt. there’s 
ScUnfiGmtu&Mto-Prts. tbe river Seine, tbe new Orsay 

Museum, tbe Louvre and a few steps further, Beaxtbourg 

Tbe Qd&m HdteL, 33 charming moms tn tbe heart of Paris. 

Od^on Hotel 


TeL: + 33 CO) 1 43 25 90 67 
Faxi + 33 (0)143 25 55 98 



MEO&J IV*** 


hOiel Btamsicimainr 


Between the Seine and the Pantheon 
in the heart of The Latin quarter, a stones | 
throw from the Luxembourg pule 
Charming rooms and apartments 
(for up to 4 pecs.) giving onto a square, 
equipped with kitchenette 
(ideal few long stays). 

Figures irfti^'^OutnningSr^^H^Ul Guide” 

50, r.d«sBenun&s, 75005 Peris 
Teb H33W 1 41 <1 31 8Hte+SW 146 33 93 22 
; M.RER St Michel Note Dames- Pxdcxsg ueasby. 


HOLIDAYS 


AIRPORT SERVICES 


AhporfC^m^dB Soun^andOdy 
Low SavtaL 

Fg you prtr^Ea itf t nn ^J njtithB (Opera. 
for krindud tr^^^mBiain you duon 

TtafeSnrini 49 62 78 78 
Fffi&iSTOI 48 62 78 78 
W—t [ MiG puiiiitf i. J- — 


Residence Hotels 


CUK2DGE CHIMPS ELYHB 


HEigb *ss moms & sites 
weekly 1 mon«y rata, Pats 
(0)1-44133331 Ruf0}1-42250468 


Bed & Breakfasts 


MANHATTAN LODGINGS, NYC. Stmt 
day luxury apartments, stperinr B & 8 
registry, many locallons. 
Tat 212-475-2090 Rax 212-477-Otai 
wwwjKrtnDBrtodgngscoui 


TOURS 


TR l\hSGm\6 1\ PFRIG0RD 


26-30 Nov. Gourmet upirimn In 
Engliab. Trudltionol lunch, tolria 
oaraianta, mwM mw l bwrwuwt. Bva music. 
Coach tour to Saxlat Low Erdos. 
Bwroarac region. Incwdas: ail mewls. 


imtal specialties, wine matings. Stay 
ixlVth c. monaatenwarkierv. hofidnys, 


& maneaWry-erinery , 
teys, coo Mn g riemora mai otis, 
onuwinanfing. 

Details. Fax 33«M5 53 58 37 13 
or cuS 33(01553579670 


Hotels 


U.SJL 


BHEATHTAWNG VEW OF HEW YORK, 
20 ft. sfesa wA Central Park & City. 
LuxvfouiyfunMwt piano, tax. cable. 
For business, musician or honeymoon 
couple. 1 block to Canada Hall 2 to 
Leoerman, 5 to Lbnkn Center, Muse- 
ums, Theetan. Weekhr. htonNy, 3 day 
weekends (mimnini) or long term. 
T* 715548-9308, ftDC 7150844142 


Lebanon 


BOTH AL BUSTAN. East of BotuL 
5 sfirdekiKL Exajftnal location, secu- 
rity, comfort, fine custoe. conventions, 
business services,' saieBe TV. 18 min 
transfer bom airport free. IfTRL Fax: 
(961) 4-972430 / (+33) (0)1-47200007 


Holiday Rentals 


Caribbean 


ST. BARTHOanr, F.WJ_ OVER 200 
PHVATE VACATION VILLAS - beach 
front to Hslde win pools. Our agents 
have Inspected al vitas posonaAy. For 
rasannliorw on SL Bdb. SL Mafin, An- 
gufla. Batbados, Uuslqua, the Vktfn Is- 
snds.„ Cal WHCOVSBARTH - U.S. 


(401 1840-801 2/fax 047-6290, from 
HWtCE I 


. 05 90 18 20 - ENGLAND 0 
-800303318 


U.SJL 


MIAMI BEACH - 0CEAMFR0OT 
1 bedmom/2 bstfi + den. Remodeted. 
Large. 3 to 7 ram Far 305067-3401. 


GENERAL 


THE INTERMARKET 
Starts 
on Page 4 


Autos Tax free 


EUROPE AUTO 

TttttMond 31M3M084484 


Personas 


THANK YOU SACflB) HEART of Jesus 
and SaW Jude tar special prayert an- 
swered- Sjyied D St. 


To 


INA AND RALPH 


CongntuMnns and 
very best wishes 

on ymr wadding day 


taw the Frankfurt office 
nd aB yow Mends at the Ttfc 


HAY THE SACRED HEART OF JESUS 


be atfcred, (fofled, bwd and 
throughout the world, now ai 


Sacred Heal of Jesus, tray far ua. Sett 
mbaoee, p 




Jude, worker of 

Saw Jude, hater of me rnpatBB, nay 
tor ie. Amen. Say Ua pnytr nine toes 
a day, by t» nbh day, your prayer wfl 
be ansmrad. It has ww tarn tawm 
total PuUcdton nut be pramM. UK 




DINING OUT 


AMS7SBMM- 

1 PAOSTIh | 

HAESK CLAES 

Rsol DuAk Gxfeng. hwi kadi urtf 

nd«ghLS)Miirora275. 

TaL'624 999g tawajaMraennwrahi 

All major embank 


MUtLT 

MS gftiSKiSfe 1 

Naar Inmidu TerainaL 

PMtSlTlh 

@ KIRANE’S 

PABSCt h 

Regional spadafiBss from Pmdjob Viwy 
om pnM nrinn. Open eviniriDy. 

Air ceedMeewi. • londiFFw 
■Otanerff IS to IT 199 

85, « deifem* - WrOI 4S 7*4031 


mill 

KERVANSARAY 

^ ttBSESsfe 1 

TtLt 5128941 ArwnwfefiL fim Opww. 
Nasn-3 pm.A6piv-1.Mh W tarty- 

® 9ty am j 

rCSSSEXS t5?Si 


Duty Free Shops 


FREDDY 


Coma h a boy d < 

■Dray Fix', & SavUgs OF • — 
Two Nocks tom the "Open*, not to Vie 
American Express Bant. FREE GIFT 
wMiH5alMn.toSfe9arato7bm. 
3 rae Scribe, Pah 9, Metro Open. 


Announcements 


BARRIE AS 24 
AU 14 NOVaBRE 1907 
Rta Hor TVA an devise beds 
(batofcn dstxribto sn demand^ 
Remphce las bammes ahrieus 


FRANCE (zona Q w Fffi ■ TVA 206% 
at W F«r. 2^8 
6C87. 5,40 . SCSP: 5^5 


UK(a»B)nil- TVA175%(B0d5%) 
GO: 05642 FOO*: 05478 


ALLBIAfilE feme ^ 0UA •TVAISHt 

2CTE/-G; 


Gft 1,10 
ZOUEi-l: 



GO: lfl4 

ZONEM-F: 

SCSP: 


GO: 143 

ZOHEW’F: 

SCSP: 


GO: 1JJ7 

SCSP: 

1A8 

BHJHQUE nt FBI • 

■TVA21* 


Gft 2234 

FDD: 

11J05 

SCSTi 33^9 

SCSP: 

31,49 


HQUANDE (zone^ NLOI - TVA 175K 
GO: 1521 F0O. 0529 

SC97; 1,857 SCSP: 1506 


LUXEMBOURG an LURI-7VA 15% 

GO: 19,48 


ESPAGIC (B» A) an PTASfl-TVA 19% 
GO: 8453 

SC97: 103,45 SCSP! W5S 


Hrra I ^'^^‘Strihini^ 


SUBSCRIBED CUSTOMER SERVICE: 
For questions .or quotes start the dalv- 

r mopaper, the status ol your 
loraboraofdeftagaaubsato- 


don, pteese cal the fokmkia ramtoas: 
EASTAf®, 


BfflDPE, MDDLE EAST AND AFHGA: 
TOLL FREE - Austria 0660 8120 Bel- 

S l 17538 France 0800 437437 
MX 048565 Greece 00800 
Italy 187 780040 Lnentairo 
0800 2703 Netherlands 0000 022 5150 
Sweden 020 797039 Swteartand 0800 
555757 UK 0600 895965 Elsewhere 
(433) 1 41438381 THE AMERICAS: 


(UHree) 14QQ48229B4 Ebewtare 
212 7523890 


S3 

Japan 


(+11 212 7523890 ASIA: 

2322 1171 fndanestai 809 IS 
WFera 01X464 027 
Korea 3878 0044 Uda 
Pfflppfnes 895 4946 Shnam 325 
0835 Tataan 7753456 Al 
1(4652)29221171 


221 7055 


277 


Moving 


ARTHUR PIERRE 


HE PROFESSIONAL HOVERS 


intBmalional mowg needs 


Prah 4« 1 M 75 92 9Z 

Lynn 4 ® 4 72 39 99 19 


00 


Legal Services 


flVWCE MAY C8TIBED 

18787 

Baacti EM. #137, Htwrobn Basil CA 
93648 OSA- wd ■ Ags m 


J5J °* Y - trawl. Write: 
MA 01778 USA. Tat 
JWO®, Ffflc STBtoOlfii 


Auto Rentals 


n»T AUTO DERB FRAMCE: Vltatea 

raa? teg mxo. Teh Pate 433 
Ml 43885555. Fax (0)1 4353 8529. 




O* Ijt 


Luxurious Waterfront 
Log Cabin Estate 



Long Island, New York 


main 


Secluded compound with large 
guest lodge. Dock and helipad. Pool, 


tennis court, fitness complex, media center; 
Convenient to gol£ the Hamptons, NYC and 
international airports. Offered for sale. Also 
available for corporate retreats, six-month 
winter lease and August 1998 rental 


Chace & 


& Friends ] 

» f 1 t « UC J 


203-861-5803 tkl 
203-861-5804 fax 

Eq*slHmaim£ Offarbuntj 


Strategic Markctehs Worldwide 

http:\\wwwJuxury-reales tate.com 


FRENCH RIVIERA 


1 


SALES ATTHE chambre de notates {Nataries'OlHce}. 12, avanue Victoria. | 

esday 2 December I997at5d» p.m. 


75001 raris DypiAic auction oa Tuesday 2 ! 


IN CANNES (06) 

(FRANCE) C6te d’Azur 
22, bd de la Croisette 
and 23-25 rue Mace 

TWO SHOPS 

dppniL 105m-' and 76 m-'fattp on to CumH) 


ONE 5 ROOM APARTMENT 

(appRo. ISS ne vSt tonace. com tad laid} 



STARTING PRICE: 30.000.000 F 


(Deposit 7.500.000 f by bank cheque to the order of Maine CflUNELLE) | 
Information: Maftre CFWNaiJE. Notate. 164, rue du Faubourg Safrx- 
Hornrt, 75008 PARIS - T«b (33) tA&JBI .55.70 
MaKra BAUMGARTNER, Legal Agent. 4. rue de la CautsAerie. 75180 
PARIS CH^X 04 

Vlwwkir 29 wmrinfcrw 1**r (ran 11 w to ta bom ml teMW- *• *30 pm 


GREAT BRITAIN 



_ Collingham 
•Serviced Apartments 


arc sfrmicd in t quia ResUadfol 
sneer in Sooth Ke nsfagto n. 

TO? aSa 24 apanmerus au^ng 
6om 1-3 bedrooms. 

Each apartment has a My eauipp-d 
toKhen/recqilioa Mail 
service sateflite TV. 

24 hour reception with Ezs 
and hundry senice. 

The perfea alternative id Hold 
aaromiDodatJOfl for [he visiting 
family or business penoa 
Comparative oxes-povoo' and ideal 
location. Knlghtstextoe, "Museums, 
and the Exmbitit»i Halls at Earis 
couxt/Oiympia make Coflinghain 
Gardens the kfeal home fiom home. 


for ate ad krodNR pii 
26-27 GaSdriiag GndeulndgB SWS OHN 
I* 0171-2(4-9677 - foe 0171-244-7331 


Sec Swturdnr’a IxtemArt 
for Aria, FHendsTups, Imerratmod 
j Mcrting NAwuev ft Domestka. 

To athtertitr contact Sonh WenhoT 
on +44 171 420 0326 
or Eu +44 1T1 420 0338 
A GREAT DEAL HAPPENS 
AT TBE UVIERMARKET 


Real Estate 
for Sale 


6a/nmas 


BAHAHAS-SPSTTACULAR Watarfiont 
Estdas bam SIM. wwiLtacMaBarom, 
Tat 242-322-1041. Far 242-326-5642. 
E-rak cMatteGbshanBUBlIs. 


French Provinces 


BUY WITHOUT C0NMBSKM 
FreelRacslvB ragalariy. at yow home* 
Ktedlon d mal attatt aresporekn to 
pur damani La FartaadnEurapaafl 

34297 Mompafltor cwdax 05, Fraacw- 

foXt3^46763631»wwiUBmltape 


fflAMC^ CASTLE tefth c oni tnic t fcto 

PARK 15 Ian bom Gama. 1J300 eqm. 

Mnspace, lOOflw sqm grauUsalb 

27/MO bqjil cons&ucflbie. Cion goff, 
3PA, taper, ireawv. qppodunly far. 
Haro part; haa me. Meet carter, 

Dfraa 


20 UflJTES FROM GaOA,-an U 
SMsve. Bearihftr nwwdD d 14llicsrtu- 
. TO sun of bring space 
,t* 


jy tsmfwss. to soa d 
hnHttjyte.4bBtaona.3l — 
tar, tote doing l Bring rooms. 2 ha. 
Hid mi EpedacnbrYlewofML Bus. 
FFr. 3800000. Tet 41 55 410 7356. 


iLUBEBOH 
Unjqus tatttoa FfetoricM sfe «0 taya 
firing spare PoasUfo to WK erira 10 


firing spaca. PoasHBy toUk 
sqm Landscaped gaRten. 
Fbrda&ls He owner +3MM. 


-+33(0)442263214. 


LUBEB0H • 19th cewry store matey 
hoiMi vtew d Menabes and vhemfc. 
Private ground. 7bfldrtns,3 0Bte- 
mons, teoacas, Hga. pod. retted ha* 


tag. US$1,100,000. S#x| hr omas. 
fat 433 (DM 9092 4803. TH OBtt 4? 


F» 483 (04 9092 4803. Ifc £*68 433 
(0)4 9092 6382. Hons fl4 072 3717. 


GSEVA AREA (FFIM4CE), W nin Ge- 
neva downton, 20 nil to i 
straw bug house, 500 aqju, 5 
nans vrih ensatb hsds, poaL gat 
tend 55JB0 sqm, S1.7M. Owner 
r T g| 439(0450952789 


BETWEEN 


and Enm nun 


(twS»«3cxnhWB-r0fl jeaMffcot^ 
MEW wnnoHdad - bunwdoto dalvray 
FiranSkxfo to Groom aporknani ' 
Exumik 

* 2/3-400013 67 sq.m FF2.361 
•5-roarr l27sqjtL + 25sqjn. 
loirocB + boteany FF4m 
for appointment 
please ring SODEMl 
Taf +33(0)1 41822221 
Fax +33 (0)1 41 32 22 57 


U.S.A. 


SN0WMASS HOME RENTALS 


ry to 
Ski-In/out 
8 miles to Aspen 
1-970-923-3636 
Email: 

snowmass-hom^+HriateetoskLcom 


PR0VHCE ■ LUBfflOM 
LUXURY STONE COUNTRY HOUSE 
350 sqm - Beaufluly renovated, 
cereal hatteng, taga, - “ 


tenaces onto gaden, 

sturao for caretatar, pads, 


3 hgthrooms, . , 

pod houre L 16 x BM pool, on 1 acre 
l an dsc a pe d garden.QdBl bra not Isolated. 
BrcaBitaMng vtew on marfleval riBaga. 


Prafect ahliorv doss aoff co m e s ! 
r mrreMa 


30 km Avtsynn. 45 tnh fcfosela ataod 

COrtad wmer Fax 433 (0)4 90 72 48 OQ 


PROVENCE - ALHLLES - LUBEROIf - 
Free trxfure: IE TX UNO 1 
36-18 LETUC,: 

Td: 433 (0)4 90 11 34 84. " 


LANGUEDOC, chaatig 19m cam man- 
dni on 44JXB sqm park, pool stables, 
. d sauation. FFl ,850,000. 
r owner 433 (0)4 68 .60 67 84 


French Riviera 


CANNES 


location, location, location 
U r*y»-Vteon®aCrataflBfl- 
Sea view - 280 scla Ari 


PHYLEGE 
TA 433 (OH 93 94 07 06 
FtaC 433 (CM 93 94 IS »1 


My 


11BC AIIY Cato a jprorinci of Steta) 
ta Jw hfeodcaf raadfavaf cantor, tuttn 
rth vlw and srad garden TOO r 
toteL Rdubtahmmt agahw « 
Ptaesa md tax tac 39 6 8735635 


.. 2-ST0SY HOUSE, 3 bsd- 
moms. 2 tos, 2 ocadon botb, dh- 
ngnmn eic. Beam hal acre w 


tawtag Montego £iBjog 


F» dateh coraact .. 

+878 052 2730 Fax 4875 952 


Tflt 


PARIS 


fay. pubfc suefon. Ttwcfey 2 DteCtmfafi 1M7 al M» pro. 


TRADITIONAL HOUSE 

in NEUILLY-SUR-SEINE (92) 


48, boulevard VIctor-Hugo 
dating from end 19th century 
Ap pr oxi ma tely 275sq.m. on 3 levels 
450sq.m. land - repairs .needed 



STARTING PRICE: FF 4,000,000 

(OaposS FF 800.000 by trank cheqoarw the onfor of CRUN6U6} 

IrtomaUon: Mitre CRUNELLE, Nofelra. 1«. me * Feutxwj 
Sate-Honorte, 75008 PARIS ■ Trel: +33 SU? 

Malta BAUMGARTNER, LsgH ftflam. «. nn de le CcretaBtertte. 76180 
PARIS CEDEX 04 

npH wnri 27 kwnrt w fW * **•• * » F" tmaWOpsu. 


Paris and Suburbs 


FREJLAND 
, tend 
40 aqmWBh Ifcor. nothing ta brat 
Tteadm buuia ffighjten 
• TAJANBMHUB) 
fot4W®in30n» 


4th, MARAIS. Owner. 17th cart, ram 

Bai, us amt. Drtfltet. 2 beCtoowfl 


OBL I 10 OUJR-. q imnM^i 

rowranh*), 2 oaths. 2 WC. bring Vh> 
Me paRtort, wood Mutea ptace. 
Ngh cateng. bean. Open kachen. dntag 
mraa. FF2790M TM 438(0)142783187 


BY OWNER NEUU.V MATTE", SUfo- 
inoMteK. 4$ com., calm, tonriut. 
tarraca on dvarl caOar. 5 mn. mato 
Unt sac. FFS80.00Q 4- oaragt- Tat 
433(0)140800978 Of • 


4fe LE SAHT LOUS, 2 raons, Gbam- 


iq ptatotomi qdst hapfcre bana A 
Moms, Bring t Indrawn S 


shower. Owner. 
44767603 (afternoon) or 


kfctan. 

433 ( 


BXAL "TOBM-TERRE* ta Bn nttta of 
& Geraata das Pna. taiga itetalo lit 
tax; 65 sqm CdR, 1«h cwteay tofr 
tan. coadanra 2 rata, tare Bud MtoM 
l ha Lam Tat 433 (OH 4328 7440 


ah, AVE MOIRE DAME DESCHAW& 
2-foom 40 term. bah. beaudra ftaun- 


butaag. 2 Hraptares. stm 5th 
cater. Low ctwgas. FF1U, Omar 
B (3145488800 ta 434-15217483 


jo, 

Td 433 (0)145488900 


MEL - W IMS PAAB, nair jdLH^ 


ctats ataate, about 400 sqm ! 

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PAGE 13 


* 'A 




Mahathir as Reformer: 
Analysts Start to Listen 


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I By Thomas Fuller “ 

f; International Herald Tribune 

, __KUAI^ LUMPUR — When Prime 
| ■ . Minister Mahathir bin Mohamad an- 

■ nouneed in September that Malaysia 

stung by Asia’s financial turmoil 

would make currency trading illegal, 
many analysts wrote off the comments 

■ as emotional and quixotic. 

; Since those remarks, however, the 
prime minister has been gaining support 
ft m a campaign to study ways of regulating 
l the world’s currency markets. 

In recent weeks, Mr. Mahathir has 
s shed some of the rhetorical flourish that 
he brandished in calling currency spec- 
ulation “unnecessary, unproductive 
and immoral.” Now, some of the ideas 
behind the words are gaining a broader 
hearing as political leaders, finaiy-fa ] 
officials and some economists suggest 
that something most be done to mak#» 
economies and currencies less suscept- 
ible to surges in capital flow. 

Joseph Stiglitz, senior vice president 
and chief economist for the World Bank 
. in Washington, said: “In some in- 
, stances development of policy instru- 
ments to allow greater control over 
surges of short-term capital flows may 
be important, a policy some have de- 
i scribed as ‘throwing sand in the wheels 
of international capital," "* he said. 

And on Thursday in Kuala Lumpur, 
the managing director of the Interna- 
tional Monetary Fund, Michel Cam- 
dessus, said he would preside next 
month over a meeting of Pacific Rim 
finance ministers that would focus on 
“what kind of new regulations should 
be or shouldn’t be considered in order to 
introduce discipline in the markets.” 

That meeting, in Kuala Lumpur, will 
‘ include the U.S. Treasury secretary, 
Robert Rubin, as well as the finance 
*■ chiefs of Japan, China, the nine mem- 
bers of the Association of South East 
Asian Nations, and about 20 other Pa- 
cific Rim countries. 

“There is certainly a sense that we 
are not dealing with perfect markets.” 
i said Amar Bhattachaxya, an economic 
adviser at die World Bank. “There is 
growing consensus that there is a role 
for policy — and that's as much a do- 
mestic issue as it is internatiooaL” 

Direct support for Mr. Mahathir has 
. come notably among his counterparts in 
the developing world. Last week, Mr. 


Mahathir persuaded a grouping of IS 
leaders from developing countries to 
jointly urge die Wend Bank and In- 
ternational Monetary Fund to study cur- 
rency markets “with a view to appro- 
priately regulating them, in order to make 
them more open and transparent.” 

The idea of discouraging speculative 
flows spurred James Tobin of Yale Uni- 
versity, a Nobel laureate, to propose that 
a small tax be imposed on foreign ex- 
change transactions. The tax would hurt 
investors who changed in and out of 
currencies frequently. 

Although Mr. Mahathir will have sev- 
eral opportunities over the next few 
weeks to make his case, he readily con- 
cedes the difficulty of trying to change 
die world’s currency trading system. 
“Whether] can convince people or not I 
don’t know, becausepowerful countries 
are not so much affected by currency 
manipnlftfiAn, "* he said. 

Later this month, President Bill Clin- 
ton is scheduled to meet — on the 
sidelines of the Asia-Pacific Economic 
Cooperation summit in Vancouver, 
British Columbia — with leaders from 
Southeast Asia to discuss the region’s 
currency turmoil. Mr. Mahathir has 
made no secret of bis intention to press 
his point at the summit meeting. 

4 *What I would like APEC to do is to 
appreciate that the members of APEC are 
not at the same level of development, "he 
said. “You cannot just say that these are 
market forces, full stop. You must also 
understand that when market forces work 
against the interest of millions of people, 
then yon have to examine exactly what 
you mean by market forces." 

Critics erf Mr. Mahathir’s ideas say 
they are no different from those of past 
leaders who have bad to battle spec- 
ulators and devalue their currencies. 

* ‘Nixon said the same thing about the 
speculators forcing the dollar devalu- 
ation that Mahathir has said in the last 
six months,” said C. Fred Bergsten, a 
former top U.S. Treasury official, re- 
ferring to former President Richard Nix- 
on, who in 1971 removed die United 
States from the postwar fixed exchange- 
rate system. “ Mahathir was almost 
quoting Nixon.” 

“There’s a germ of truth in what he 
says,” Mr. Bergsten added. ‘ ‘But while 
it's understandable, Mahathir is essen- 
tially scapegoating and blaming the 
messenger.” 



Tokyo Defers to IMF 
On Regional Loans 

Plans for Asian Rescue Fund Are Modified 


Ww tlwftapir 




Replan RalnwiMgnvt 


Customers of Bank Guna, one of 16 Indonesian banks being shut, 
waiting to claim partial reimbursements. Michel Camdessus, the IMF’s 
managing director, urged regional cooperation to avert financial crises. 


By Michael Richardson 

Inter •U’.tvnul Herald Tnhunr 

SINGAPORE — As Asia's financial 
crisis spreads. Japan has modified iis 
controversial plan for a lending program 
to aid troubled Asian economies so that 
it will not clash with the IMF. officials 
said Thursday. 

Meanwhile, support in the region is 
increasing for new arrangements to 
marshal additional money to buttress 
emergency loans from the International 
Monetary Fund in cose of another major 
crisis. Support is also increasing, of- 
ficials said, for moves to monitor the 
policies of Asia-Pacific economies so 
that they do not go awn,’ again. 

Finance Ministry officials in Tokyo 
said that Japan had modified its proposal 
for an “Asian Monetary Fund” follow- 
ing concerns voiced by the United States, 
the IMF and some others. They feared 
that the fund — which, as Tokyo pro- 
posed in September, could draw on 
standby* credits from regional members 
of up to S100 billion — would weaken 
the IMF's power to demand economic 
reforms in Asia in exchange for loans. 

While important details of the new 
arrangements still have to be agreed by 
Asian and Pacific countries at meetings 
later this month and in December, gov- 
ernment officials in the region and in the 
IMF said that the rapid spread of in- 
stability in financial markets in Asia and 
other parts of the world since September 
had prompted greater consensus. 

“There is now a very common sense 
that whatever financial initiative is taken, 
it should not, directly or indirectly, weak- 
en the IMF and its capacity to negotiate 
with countries the programs for recovery 
which this financial scheme would sup- 
port." Michel Camdessus, the IMF’s 
managing director, said Thursday. “I be- 
lieve this point is now well taken by all 
and that whatever formula is adopted, it 
will respect this essential principle with- 
out which the scheme will not fly.” 

Three Southeast Asian countries — 
Thailand, the Philippines and Indonesia 
— have received a total of about $60 
billion in backup loans arranged by the 
IMF in exchange for economic reforms 
since the Thai financial crisis in July 
triggered turmoil in the region. 


Mr. Camdessus, in Singapore as pan 
of a Southeast Asian tour, said that the 
spillover effect had "proven to be so 
costly that each country has an oblig- 
ation to work with its neighbors to see 
how a framework for regional cooper- 
ation could help them in managing their 
economies better to avoid a crisis, or if a 
crisis emerges to react together.” 

The IMF has proposed that a ' ‘re- 
gional surveillance group," comprising 
finance ministers and their aides, should 
meet regularly to preempt problems. 

The IMF has iso proposed “a co- 
operative financing initiative” for Asia 
under which Asian members would 
agree to provide lines of credit that 
could be drawn on in a major crisis to 
supplement IMF funding. 

This is similar to Tokyo's modified 
fund proposal, which would also sup- 
plement IMF activities and be subject to 
the same lough IMF conditions, effec- 
tively giving the IMF access to new 
credit lines, Japanese officials said. 

Mr. Camdessus said that financing the 
- loans-for-reforms packages to stabilize 
Asian currencies and lay the basis for 
economic recovery was not a problem. 
“What is missing here is a kind of re- 
gional surveillance, to complement an 
already strengthened IMF surveillance, 
by developing among the countries of the 
region a club spirit through which neigh- 
bors can encourage one another, and ex- 
ert some peer pressure on one another, to 
pursue sound policies/' he said. 

He added that such a group should 
seek to harmonize exchange rate move- 
ments and coordinate fiscal policies. * ‘If 
this regional surveillance can take place 
in an Asian framework, certainly many 
potential crises could be avoided." 

Deputy finance ministers from Aus- 
tralia, Brunei. Hong Kong. Indonesia. 
Japan, South Korea, Malaysia. China, 
Singapore, Thailand and the United 
States have been invited to Manila next 
week to discuss economic stabilization 
proposals. Finance Secretary Roberto 
de Ocampo of the Philippines said that 
the conclusions of the Manila talks 
would be submitted to the annual sum- 
mit meeting of leaders of the 18 mem- 
bers of the Asia-Pacific Economic Co- 
operation forum, in Vancouver, British 
Columbia, on Nov. 24 and 25. 


Thinking Ahead /Commentary 

Free Trade’s Enemies Polish Their Act 


Rubin Warns Tokyo About Bank System 


By Reginald Dale 

International Herald Tribune 


W ASHINGTON — The clouds 
of smoke drifting from the 
latest battle over U.S. tirade 
policy, in which President Bill Clinto n 
was forced into a humiliating retreat 
Last weekend, are obscuring a worrying 
new development: The opponents of 
free trade nave acquired better argu- 
ments. 

Mr. Clinton made so many mistakes 
before finally withdrawing his request 
for new “fast-track” trade negotiating 
authority that it was easy to attribute 
his reversal to his own bad generalship, 
rather than to the improved tactics of 
his enemies. 

It is true that Mr. Clinton contributed 
heavily to his own de f eat. He waited 
too long to make his request to Con- 
gress and he relied too much on the 
same kind of frantic, last-minute deal- 
making he employed in his first term to 
win cliff-hanging votes on the North 
American Free Trade Agreement and 
the Uruguay Round of world trade ne- 
gotiations. 

But this time something was dif- 
ferent. . . 

In seeking the right to negotiate new 


Clinton offered arguments that were 
economically impeccable. Bor they 
sounded trite and tired. Those of ms 
opponents sounded fresh and, at least 
superficially, more attractive. It was a 


major turning of the tables. According 
to Mr. Clinton's centrist political 
strategy, he is meant to be the New 
Democrat, busily building a bridge to 
die 21st century on the twin foundations 
of U.S. competitiveness and leadership 
of an open global trading system. 

His opponents — and especially 
Representative Richard Gephardt, die 
House minority leader, wno led die 
campaign against fast-track on Capitol 
Hill — are meant to represent the old, 
protectionist Democratic party, out of 
touch with today’s public opinion. 

Neoprotectionists suggest 
that Americans can 
indeed have it both ways. 

The point the free traders seem to 
have missed is that Mr. Gephardt and at 
least his more sophisticated friends are 
no longer singing the same siren song. 

The new line goes something like 
this: “Yes, we know there is now a 
global economy and dial it is here to 
stay. We are not against globalization 
and expanding trade. Nor are we 
against American leadership of the 
world trading system. 

“On the contrary, we want America 
to lead the world in the next century in 
shaping new trade rules that will safe- 
guard the interests of workers and the 
environment, not just those of mul- 
tinational corporatio n s.” 


That sounds much better than the old 
protectionist rhetoric, even if the ob- 
jective is much the same — to make 
foreign goods more expensive. It is 
also in mne with the views of a general 
public that remains deeply ambivalent 
about trade. 

Americans tell pollsters that they 
favor free trade but also that American 
jobs should be protected. The neo- 
protectionist approach suggests that 
Americans can indeed have it both 
ways, adding a dash of the * ‘feel-your- 
pain” compassion in which Mr. Clin- 
ton used to specialize. 

A lot is wrong with this argument. It 
is dishonest in suggesting thar other 
countries can be persuaded to accept 
American rules on labor and die en- 
vironment as well as more American 
exports — they can’t — and that deny- 
ing the president f&st r track authority 
wOl somehow advance the cause. 

The seemingly compassionate ap- 
proach is laced with a nasty dose of 
class warfare. One union leader hailed 
Mr. Clinton’s defeat as “a major vic- 
tory for working families over corpo- 
rate greed,” forgetting that workers are 
also consumers and just as interested as 
corporations in a strong economy. 

But free traders must respond more 
effectively or support for protection- 
ism will grow as the U.S. trade deficit 
climbs and, some day, growth inev- 
itably falters and unemployment rises. 

The challenge is to make free trade 
appeal to the heart as well as the head. 
It won’t be easy. 


By David E. Sanger 

New York Times Sen-ice 

WASHINGTON — In another sign 
of U.S. concern about an escalation of 
the financial crisis in Asia, Treasuiy 
Secretary Robert Rubin wrote to his 
Japanese counterpan late last week 
warning that the health of Japan’s bank- 
ing system was deeply imperiled and 
urging strong action to spur the Jap- 
anese economy. 

Details of die letter to Hiroshi Mit- 
suzuka, the Japanese finance minister, 
have leaked out in both Japan and the 
United States in recent days, though the 
Treasury Department, citing the tradi- . 
tional confidentiality of correspondence 
between finance ministers, has declined 
to release the text. 

Reports about die letter’s content ap- 
pear to reflect the Clinton administra- 
tion's fears that the choking off of Ja- 
pan's long-delayed economic recovery, 
worsened by a sharp fall in the Japanese 
stock market, could set off a crisis like 
die one that moved from the markets of 
Southeast Asia to those of New York 
and Latin America in the last month. 

In Tokyo, the Nikkei stock average 
fell more than 2.5 percent Wednesday to 
a two- and-a-half -year low. and on 
Thursday it failed to recover any of 
those losses. 

Mr. Rubin’s letter, as described by 
people who have seen it, apparently did 
not directly refer to die weakening yen. 
which finished Thursday at 126.30 to 
the dollar, a six-month low. But Mr. 
Rubin repeated his warning that Jap- 
anese officials should not be tempted to 
export their way out of their troubles — 


a move that would greatly increase the 
U.S. trade deficit A weaker yen makes 
Japanese goods more affordable over- 
seas. 

While Mr. Rubin's lener was directed 
at Japan, it is increasingly clear that the 
administration’s immediate worry cen- 
ters on what Japan might do in response 
to a financial collapse of South Korea. 

The South Korean currency has 
plummeted in recent weeks, corporate 
bankruptcies are spreading and its banks 
are teetering under the weight of bad 
loans that many experts think vastly 
exceed the banks' corporate equity. 


Japan’s Exports lift 
Trade Surplus 76% 


TOKYO — Japan's trade surplus 
soared in the first half of its fiscal year, a 
government report showed Thursday, 
and analysts said surging exports would 
provide support for the flagging econ- 
omy despite fears of turmoil spreading 
from other Asian economies. 

The current-account surplus, the 
broadest measure of trade in goods and 
services, jumped 76 percent in the 
April-September period from a year 
earlier, to 5.806 trillion yen ($46.5 bil- 
lion). the Ministry of Finance said. 

Although some analysts said the in- 
crease in Japan's exports would slow 
because of the recent problems in other 
Asian economies, many others said that a 
weak yen would buoy exports to other 
parts of the world. 


In recent days, officials in Wash- 
ington and Tokyo have made little 
secret of their concern that a free fall in 
the South Korean currency could put 
pressure on Japan to let the yen fall as 
welL South Korea is one of Japan's 
fiercest regional competitors, and U.S. 
officials worry that Japanese indusny 
may urge the government to make sure 
that Seoul’s devaluation does not un- 
dermine Japanese businesses by making 
Japanese exports less competitive than 
South Korean ones. 

The immediate result,. U.S. officials 
think, could be a huge rise in the U.S. 
trade deficit with Asia next year. One 
leading trade economist. David Hale of 
Zurich Insurance Group, has estimated 
that the U.S. trade deficit with the world 
could expand to $250 billion to 5300 
billion by early 1999. up from $192 
billion last year. 

Bui the trade imbalance could rank 
among the least of the problems. 

Japanese banks, securities houses and 
insurance firms have struggled for sev- 
eral years because of the implosion of 
the Japanese real estate market and the 
fall of the stock market. They are par- 
ticularly vulnerable now because they 
are also exposed to enormous losses in 
Southeast Asia. A collapse in South 
Korea could lead to a new- round of 
trouble across the Sea of Japan. 

Tokyo and Washington could also 
come underpressure to engineera South 
Korean aid package, though the Finance 
Ministry in Seoul, in a long, defensive 
statement Wednesday, insisted that it 
would need no outside help. Economists 
in the United States ana Europe are 
unconvinced. 


CURRENCY & INTEREST RATES 


Cross Rates 


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AKter** 1 1M UB-IISS — 2S» UH1 K» 

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EU Leaders Play Down Jobs Summit 

Dismissal of ‘Mist and Costly 9 Programs Could Bring a Clash With Paris 


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Source; Reuters. 


By Barry James 

International Herald Trihwir 

BRUSSELS — European Union lead- 
ers, including Chancellor Helmut Kohl of 
Germany, played down hopes Thursday 
of dramatic developments next week at 
the “jobs summit” meeting of heads of 
government and state in Luxembourg. 

Even Jacques Sanier, the president of 
the European Commission, the EU’s 
executive, said he had "nothing good to 
say” about “vast and costly" programs 
to create jobs artificially. 

Mr. Kohl said io Parliament on 
Thursday that Bonn, the EU’s biggest 
paymaster, would not foot the bill for 
job-creation programs. Employment 
policy, he said, is “mainly a national 
and nor a European task.” 

This set the lone for a probable clash 
of ideas with the French government, 
which insisted on the meeting as its price 
for agreeing to a stringent stability pact 
designed to keep countries on the pith of 
monetary and financial virtue in rhe pro- 
posed European single currency zone. 


This is just one more clash among 
several — including the dispute about 
the future leadership of the European 
central bank — as Europe heads into the 
home stretch toward monetary union. 

France, whose 12.6 percent unem- 
ployment rate is a postwar record, is 
looking for a positive measure of hope 
from the Luxembourg meeting. 

Bui with no new spending available 
beyond 1 billion European currency units 
($1.16 billion) in European Investment 
Bank profit, quick fixes are unlikely. 
Even a modes i commission proposal for 
jobs or training spws for the long-term 
unemployed has raised cost concerns in 
Bonn and some other capitals, 

Mr. Sanier warned against unrealist- 
ically raised expectations from the Lux- 
embourg meeting. “We are not expect- 
ing from this summit that there will be so 
many millions of jobs created.” he said. 

When Prime Minister Tony Blair of 
Britain spoke at a French- British summit 
meeting last week about helping people 
enhance their “employability." Pres- 
ident Jacques Chirac of France replied. 


“We don’t know what that means.” 

But the word is also used by Padraig 
Flynn of Ireland, the European com- 
missioner responsible for employment 
and social policies. 

Mr. Flynn said at an interview here 
that the emphasis at Luxembourg would 
be on creating jobs, now and for the long 
term, to keep Europe competitive rather 
than specifically dealing with the EU's 
10.6 percent employment rale. 

"We have vacancies at the moment 
because people aren't available to fill 
them," he said. “Forty percent of small 
businesses have told us straight that they 
can’t expand because of the shortage of 
the skilled people they need." 

Mr. Flynn said it was more important 
to focus on the employment rate, which 
on average in Europe 'is 60.4 percent of 
the population between 16 and 65, some 
10 percentage points lower than in the 
United States or Japan. 

He said commission studies had 
shown that by combining the best merh- 

See JOBS. Page 19 




■PAGE 14 


INTERNATIONAL HERALD TRIBUNE, FRIDAY. NOVEMBER 14. 1997 


THE AMERICAS 


Investor’s America 


30-Year T-Bond Yield 


:/ v V IsViw, 


7000 

6J» 

( Dollar in Deutsche marks | 





1.65 


J J A S O N 

1997 


110 


J J A S 0 N 
1907 








— '■•■ * -w ..... ..... A + ■ + ■ '"■ Y : 











Source: Boomberg, Reuters 


Dollar’s Gain 
Against Yen 
Ends on Talk 


Of a Sell-Off 


CnefiUbr OvrSegFwm Dunacjtfr 

NEW YORK — The dollar fell 
against the yen Thursday for the first 
time in 10 days as traders worried 
that the Bank of Japan might sell the 
U.S. currency to stem its rise. 

That concern mounted after Jap- 
anese media reported that tee Fi- 
nance Ministry and the Bank of Ja- 
pan had considered such a move for 
a week, leading some traders to 
speculate that tee central bank had 
already intervened. 

“The market got tee impression 
the Bank of Japan had been selling,” 
said Dennis Pettit, manager of for- 
eign exchange at Long Term Credit 


FOREIGN EXCHANGE 


(■nonaiiaaal Herald Tntane 


Very briefly: 


• Prime Retail Inc. agreed to buy Horizon Group Inc. for 
$906 3 million in stock and assumed debt 


• A retired Eastman Kodak Co. manager suspected of 
.peddling film-making trade secrets drew a one-year prison 
sentence after pleading guilty to stealing formulas, drawings 
and blueprints. Harold Worden, 56, agreed to meet with 
prosecutors to name companies teat had illegally bought 
confidential documents from him, and Kodak sued a drug- 
capsule maker, RJ?. Scherer Corp. of Troy, Michigan. 

• Ford Motor Co.’s Argentine unit will halt production of its 
Escort model for two weeks in response to an expected drop in 
Brazilian car imports. 

Gap Inc.’s third-quarter net income rose 22 percent on 
higher back-to- school sales at its Gap, B anana Republic and 
Old Navy stores. Profit was $164.5 million, or 62 cents a 
share, as revenue for tee quarter ended Nov. 1. rose 28 percent 
.to $1.76 billion. 

• Woolworth Corp-’s third -quarter earnings fell 29 percent 
from a year earlier, to $55 million, or 41 cents a share. Revenue 
fell 12 percent to $1.58 billion in the quarter ended Oct 25. 

• Petroleos de Venezuela SA was struck for 12 hours by 
workers demanding concessions in contract talks. Bloomberg, ap 


Strike Gives UPS First Loss in 5 Years 


Bloomberg News 

ATLANTA — United Parcel Service of America Inc. 
reported its first quarterly loss in five years Thursday, at- 
tributing tee reversal to the 15-day strike by tee Teamsters 
union against tee package-delivery company this summer. 

The closely held company said it had a $ 10 million loss in 
the third quarter, against a $340 million profit in tee like 
quarter in 1996. Sales fell 14 percent, to $4.81 billion. 

UPS said cost-cutting had offset any significant long-term 
effect from tee strike. Volume is below prestrike levels, it said, 
but sales and profit in September matched year-earlier figures. 


Bank of Japan. “Though no one said 
they saw them doing it, the rumors 
caused some panic selling/’ 

At 4 PAL, tee dollar was at 
125.675 yen, down from 126.525 
late Wednesday. But it rose to 1.7258 
Deutsche marks from 1.7175 DM. 

The U.S. currency pared most of 
its losses against tee yen after a 
rating concern said it was consid- 
ering lowering its ratings of three 
major Japanese banks. 

in addition to lowering ratings for 
Fuji Bank, Industrial Bank of Japan 
and Sakura Bank, the London-based 
IBCA agency said it was reviewing 
three other h anks — Dai-Icm 
Kangyo B ank, Sanwa Bank and 
Sumitomo Bank. 

Bnt the dollar was hurt by con- 
cern tear U.S. officials did not want 
it to strengthen much further. The 
currency’s strength can ruse tee 

1 >rice of U.S. exports, making them 
ess competitive, and tilt the balance 
of trade further in Japan’s favor. 

“I can’t imagine that the U.S. is 
terribly happy about tee yen weak- 
ening as matte as it has,” Mr. Pettit 
said. “They can live with it as long 
as it’s a short-term phenomenon. . 
The question is how long before it 
becomes permanent.” 

Dealers said comments Thursday 
from Alan Greenspan had no impact 
on the dollar. The chairman of the 
Federal Reserve Board said that the 
Asian financial turmoil could cut 
growth in the U.S. economy. 

Against other currencies, the dol- 
lar rose to 5.7785 French francs 
from 5.7527. francs and to 1.4087 
Swiss francs from 1.3920 francs. 
The round fell to $1.6980 from 
$1.7CM5- (Bloomberg, Market News) 


Latest U.S . Downsizing Wave? It’s for Growth 


By Tim Smart 

Wushingion Poa Ser v i ce 


WASHINGTON — For 24 hours this week, 
it looked like tee early 1990s again as corporate 
America brandished pink slips with abandon. 

Eastman Kodak Co. set tee pace with its 
announcement Tuesday of 10,000 layoffs as 
pan of a restructuring plan. The underwear 
maker Fruit of tee Loom Inc. was not far 
behind, giving 2,900 workers the ax. The elec- 
tronic-components company Kernel Corp. 
showed tee door to another 1 ,000, and tee New 
York fashion house Donna Karan International 
Inc. sliced its payroll by 15 percent, or 285 
employees. 

Then came tee news teat General Motors 
Corp. would take a charge of between 52 billion 


tee lowest it has been in almost 25 years. 

Analysts nn ^ consultants who advise compa- 
nies on strategic issues said the latest restruc- 
turings, painful as they were from the viewpoint 
of the unemployed worker, were different from 
those rhfl f occurred in tee period of massive 
downsizing a! the tum of tee decade. 

“This is a new restructuring wave,” said 
Gary Neilson, a senior vice president at Booz- 
Allcn & Hamilton Inc. 

Even though tee numbers of lost jobs seem 

. _ i_ ’ tOOl 


large, they still pale in comparison with 1993. 

tor layoffs. International Busi- 


and $3 billion for restructuring its operations 

if plants. It 


and closing an unspecified number of plants. 
juldbeG 


would be GM’s biggest charge against earnings 
since at least 1990, when the automaker took a 
$2.1 billion hit. Though GM did not specify 
how many U.S. jobs would be lost, analysts 
expect a large number. 

American workers, noting the record profits 
that companies have been posting the past few 
years and, until recently, the ever-upward rise in 
their stock prices, might wonder why down- 
sizing is back in the headlines after an apparent 
hiatus. That is especially true given that Amer- 
ica’s unemployment rate stands at 4.7 percent. 


tee worst’year . 

ness Machines Corp., for instance, laid off 
60.000 people teat year, Sears, Roebuck and 
Ca cot 50,000, and Xerox Crap., 10,000. 

Mr. Neilson said the latest job cuts were more 
strategic in nature than those in tee past. “The 
restructuring we see in this wave is a lot more 
repositioning for growth rather than retrench- 
ment,” he said. 

“It’s a lot more ‘Let’s get our act together 
and focus on who we are going to be,’ ’ Mr. 
Neilson said. “In tee early ’90s and late ’80s 
there was more downsizing for survival.” 

grill t Tuesday’s carnage was the worst one- 
day round of layoffs since November 1996, 
according to Challenger, Gray & Christmas 
Inc., an outplacement firm in Chicago. 
“They’ve been surging since July,” John Chal- 
lenger, executive vice president of Challenger 
Gray, srid of tee cutbacks. “I thunk there is a 


real potential this is another wave. 

Driving companies to continue teetr cost- 
cutting. according to Mark Vimer, an econ- 
omist at First Union Corp., is an economic 
environment in which businesses have been 
unable to get price increases for their products. 
“We have seen absolutely no inflation in the 
price of goods,’ * Mr- Vimer said. 

To keep their earnings up. companies thus 
must continually cut back an their overheads, 
and employees are often one of their highest 
costs. 

“There’s been 1 
displacement that 

ery,” said Lawrence .. 

at the Economic Policy Institute. 

The recent weakness in Asian currencies 



could exacerbate tee situation as imported 

' ‘ :,Mr. Vir- 


goods become even more competitive, 
ner said. 

If there is a link among tee latest layoffs. « is 
that the surge of expansion into other markets 
by U.S. companies carries bote risks and re- 
wards. he adoed 

“All these layoffs, to me the one thing they 
have in common is son of the downside of 
globalization," Mr. Vimer said. 

Nor are tee layoffs likely ro end soon. Chal- 
lenger said that while companies would prob- 
ably spare workers during the holidays, he 
warned, “January is often the heaviest month of 
the year for downsizing.” 


Telephone Shares Bolster Market 


CoofaM bt Oar Swff From Dofawbn 

NEW YORK— U^. stocks rose 
as a rally in telephone shares offset 
declines in companies expected to 
be hurt by the economic slowdowns 
in Asia anri T .arin America. 

Bell Atlantic and AT&T led the 
gains in a day marked by sudden 
price swings. 

The Dow Jones industrial av- 
erage rose 86.44 points ro dose at 
7,487.46, but declining issues out- 
numbered advancing ones on the 
New York Stock Exchange by a 7- 
5 margin. 

Many investors remain con- 
vinced that weakening economies 
elsewhere will provide a necessary 
brake on U.S. growth, letting the 
seven-year expansion here roll 
along without overheating. 

Still, analysts said stock prices 
were likely to fall further in the short 
term as investors sorted out which 
U.S. companies would bfe hurt tee 
most by troubles around Ae world. 

AT&T rose 2 1/16 to 48 13/16, 
Bell Atlantic rose 11/16 to 83%, 
and BellSonth gained I % to 49 11/ 
16. 

WorldCom’ s acquisition of 
MCI puts pressure on other large 


telephone companies ro merge or 
form alliances, analysts say. Also, 
tee stocks offer relative stability in 
a turbulent market, said Dan 
Gardiner, a telecommunications 
analyst at W.H. Reaves & Co. 

“These companies pay divi- 
dends, have huge market caps and, 
though tee businesses are becom- 
ing more competitive, they are de- 
clining-cost businesses,” he said. 


US. STOCKS 


“They are safe havens in a scary 
world scenario.” 

The Nasdaq composite index 
rose 16.02 points to 1,557.74, and 
tee Standard & Poor’s 500 index 
rose 1 1.09 points to 917.05. 

Alan Greenspan, chairman of the 
Federal Reserve Board, spoke of 
the effect of the slowing economies 
of Asia and Larin Amenta when he 
tokl Congress, “The growth of our 
exports will tend to be muted” and 
that this would probably lead ro 
“some drop-off’ in earnings. 

The price of the benchmark 30- 
year Treasury bond rose 1/32, ro 
100 11/32, leaving the yield un- 
changed at 6.10 percent Bonds 


gained early in the day after tee 
government reported a larger-than- 
expected 4.5 percent rise in pro- 
ductivity for tee third quarter, tee 
biggest gain since tee fourth quarter 
of 1992. That suggested business 
costs, and inflation, remain con- 
tained and teat interest rates could 
continue to fall, economists said. 
Further clues on tee direction of 
interest rates will come in Friday’s 
report on October producer prices. 

Paul Chemey, an economist 
with Pegasus Econometrics, said 
teat while stocks and bonds were 
bolstered by Mr. Greenspan’s testi- 
mony and the dam on productivity 
and wage costs, political tensions 
and continuing worries about Asia 
had left the market shaky. 

“The comments aren’t enough 
to remove the worries in the mar- 
ket,” Mr. Chemey said. “We still 
have a lot of disbelieve ns that tee 
impact of Asia has been fully 
factored into stock levels.” 

Robert Bloom, chief investment 
officer at Friends Vilas-Fischer 
Trust Co., said the turmoil in emerg- 
ing markets “will be beneficial to 
the U.S. economy, our stock market 
and also our bond market.” In tee 


Kmart Earnings 
More Than Double 


BLxmberg Sews 

TROY, Michigan — Kmart Corp. 
said Thursday that its third-quarter 
earnings more than doubled as it cut 
costs and increased grocery sales. 

The discount retailer also said it 
would offer early retirement to 
about 28,500 hourly employees m 
its stores and regional and district 
offices. 

Profit from continuing opera- 
tions rose to $ 18 million, or 4 cents 
a share, from $8 million, or 2 cents 
a share, a year earlier. Revenue rose 
1.5 percent, to $7,32 billion, in the 
quarter ended Oct. 29. Same-store 
sales, or sales at stores open at least 
a year, rose 4.7 percent. Kmart 
shares were down 75 cents at 
$12.6875 in laic trading. 


near term, though, he said the Dow could 
fall to 7,000 because of the uncertainty 
about profits. 

Shares in CIT Group, one of the 
largest U.S. lenders to small and me- 
dium-sized companies, rose 31/16 to 30 
1/16 after an S850.5 million initial pub- 
lic offering. iBloombcrg . AFX. A P ) 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Thursday’s 4 P.M. Close 

The 300 rood traded stacks of the day, 
up to the dosing on WaD Street. 

The Associated Press. 


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sols h«i un im ow indexes 


Most Actives 


Nov. 13, 1997 


K& Low Latest Otga Opirtf 


(flgH Low UM Chgt OpM 


Hkjft Low icumi cira* Ortai 


(■pciflg 


9ft ?ft 
27 26 

lift lift 

SK* 62ft 

«*> m 

8V, | 


- Dow Jones 


NYSE 


Mgh Low Latest dig, OpM 




Tran, 3WA0* 31KL24 X3SJ7 3060A5 -13*3 
mi 244.18 24452 242J9 24174 -014 

Carp 244 US 3449.94 2487*6 2441.36 +10*7 


CIT Gp 


Standord & Poors 


4 P.M. 

Industrial, lffT9.07IQ57.541Q58.10 1072.11 


Transp. 
utnmcs 
Finance 
SP 500 
SP 100 


66546 650.88 651.15 65645 
309.13 20638 207.87 207.69 
109.25 10450 10656 107A0 
92188 90534 90536 917-05 
882*0 864.14 864*4 877.19 


wyws* 

QbbM 

IBM, 

MfcmT 

MCMn 


AwCWne 

Tci 



Grains 

coRNicaon 

SJX30 bu mMmum- cants per bosh* 


Dec 97 276 273 2723. 

Mar 99 2BS>* 7SF* 28 1 

Morn 292 288*4 ffltti 
3« 91 295>6 292*4 292ft 

Sep 98 23314 285 285 

Dec 98 2*7* 2MVi 2Uft 
Jut 99 297 296*4 297 

EsL sofas 74000 toff* sofas 84«7 
Wars open H sum on 1(0406 


-1 151331 
•14 11*237 
•U* 32*79 
-1H 45.136 
■2* 4205 
-Ztt 2*171 
-2 269 


ORANGE JUICE OfCTM 
liOOOtov-ceataperttL 
Jan 98 8250 81.00 82.75 4L90 22.931 

Mar 98 16*0 U00 8530 -1.00 12410 

Jtar98 89.00 8735 8130 -1-20 2308 

-M98 91.90 9030 9130 -OJO 1,460 

Esl srtes NA «Mi sofas 12796 
Wed* open kit 42099. up 2400 


ID-YEAS FRENCH COY. BONDS CMATTF) 

ffjoo-ooo jphot too pa 

Dec 97 9200 9244 9270-218 102617 

Mar 98 9222 9204 9210 - 0.10 11.179 

Jon 90 97.76 9736 9734-218 0 

EsL sate 102002 
OpM let; 111396 op 11,179 


Juo90 94 08 94.75 *4*8 *213 112.-61 

Sap«8 9501 94.92 9503 .all 6’flIO 

Dec 98 95JU 9495 95.04 .010 52375 

Mar 99 9497 9489 9497 +009 31 TM 


6*1 sate, 66.075 Prrv. sates 51.854 
Pkv. open far : SI 2073 up 14U3 


NYSE 


Nasdaq 




47191 48149 +176 Sfe? 

rn :s 3a». 

2S272 3014} *167 ™» r 5 - 

44419 44*55 +2JJ4 MC 


Vn Yt 

£ 3S! 


Nasdaq 



JS IP %% *?£ 

m 1ST. 1st 

221217 222647 

~ 044M 


103691 


SoMtCS 

KLATMC 


Oracle* 
Aram 

ECm 

*113 VMeoLan 

-148 



SOYBEAN MEAL (CBOTJ 

100 tons- Mkm per kn 

Dec 97 23930 23400 23530 -130 3*206 

Jan 98 23200 22830 22160 -130 27336 

Mar 98 72900 22530 22433 4.10 21389 


Moy98 22200 22200 22280 *030 T7J9S 


22730 22210 22430 *050 12398 
AupW 32630 32X50 31400 *030 1866 

Est sate 25300 Wed* ate 26230 
Wed* open M 128337, off 522 


Metals 

6OLDMCM30 
too tray at" Mian per tnw at 

'97 3C8JO *4L» 

30940 30730 30630 *040 
31040 309.40 309.40 4L10 
31130 30930 310.10 *4140 
312.90 31130 312.10 *040 
31530 31190 31430 *040 
Aaa«8 31630 316.10 31630 *040 
Oa9S 32010 31070 31070 *040 
32230 32130 32130 *040 
Est Mies 30000 Weds kM* 34305 
Yton open kd 210*10 up 4053 


Dec 97 
Jon 98 
Feb 98 
Apr 98 
Jun98 
|98 
rot 

Ok 9* 


2 

104.105 

4 

36343 

7303 

Ili446 

4532 

1^97 

11458 


ITALIAN GOVERNMENT BOND OJFFE) 
ITL200 nlBcn - po of 100 ptf 
Dk 97 11135 11137 11133 *037 115363 
Mar 98 111.70 11134 111*8 +039 4507 

Ju«9t N.T. N.T. 111*8 *039 
Est ate: 33A2S. Pm. wiles: 41797 
Pw.apenW.: 119,770 up 33A 


UBOR 1-MONTH (CMER) 

SloNBM-ptsaf lOOpd. 

No»2 «4SJ 9430 9432 undL 30095 
Dec 97 9413 9405 9407 -003 18.794 
Jon 98 9439 9423 9427 UKh. 4680 
Est. sales NA Wetfs sdes 14959 
VMS open fed SOU*, up 496 


Industrials 
cotton imcnn 

50000 lbs. -conn per ft 

Doc 97 7074 7035 7073 *036 3*440 

Mar 98 72 70 71*5 73 13 *0 17 226*3 

May 98 7155 7300 7113 *005 14791 

Jul«9 7410 73*5 7296 *001 12614 

Od 98 7308 7500 JSiM 4107 939 

Est wto N A. Weds vm 12645 
Wars open M 92.682 up 1*77 


AMEX - 

671 At 66221 

Dow Jones Bond 


u. u- a* AMEX 

fll 10(1 U(U .1 IB V *4 "• l" 


SOYBEAN 0IL(CB0T) 

60000 fts- cents par ft 

Dk97 268S 2432 2470 *03] 45309 

Jon 98 26J8 2452 24*2 *030 3U99 

Mar 98 27*0 2455 2487 *031 2(6370 

JB 2497 2455 2492 *035 1UB7 

A4 90 3497 2640 2477 +032 1637 

Aug9B 3470 3435 2440 *025 909 

EsL soles N A. Wetf» mWs 3UB8 
Weds open lot 122459, up 1729 


SPUR 

VbtaCg 




20 Bonds 
lOUfflldes 
10 Industrial, 


10443 

102.16 

10471 


>m yLLJd 
10441 
102*6 
10476 


85065 92«d 

WR S 

ar 

on* V, 


Wtto 91 N +m 

JS 

7Va | -*» 

18N 19ft +W» 

ft ve -w 


SOYBEANS (CBOT) 

4000 bo sMiboi- eents per bwhsl 
Nor 97 743 730ft 734V, *3U 4705 

Jan 98 742 729ft 732ft *114 69*26 

5Vr98 745 732 735ft *2ft 2S606 

MavM 748 737 739 +2 20060 

■M98 750 738ft 741 +2ft 20532 

Est w iles 5 0000 Vftds teles 51 ^22 
VftdS open bit 150260 off 1100 


HI GRADE COPPER (NCMX) 

25*00 tos.- certs per ft. 

Nor 97 8050 SfflO 8045 -005 

Dec 97 8930 8770 8060 *005 

J»fB 89.40 8840 09*0 *005 

Feb 98 89*0 89*0 89.10 **5 

Mar 98 90*0 8870 89-15 -010 

Apr 98 89*0 89.10 89.10 -005 

May 98 9040 89*0 89*0 -005 

Jup98 9010. 8045 89*5 -005 

WH 9030 WAS 8946 -OOS 

Est. woes 12*00 Weds sales 9JS5 
Wadi open tat 64241. up 256 


Z157 

29.731 

1*97 

1*29 

10760 

1*12 

3*45 

1*49 

2784 


5R.VERMCMX) 


5000 lnsjr at- certs per trar ee. 

50f*0 51 ZAO *23.70 


Trading Activity 


pima 


» 2ft 
u ift 
n* n 

1711 171% 

left rn 
m ift 
ft ft 
.it. m 

an me 

,15 iR 

6S 6ft 
S« 5ft 
4ft 4ft 
9ft 9ft 
* ft 
14ft 14ft 
27ft 26ft 
ift m 


NYSE 

C1M 

Pm. 

Amend 

□ertnrt 

1440 ' 
1512 

£ 

ffiS 

493 

3444 

391 

U35 

sstss 

. 3 

>3 

AMEX 

<hiB 

r _ 

Mwncee 

& 

S 

% 

S 

*7 

ksi as 

6 

15 

Dividends 



Company 

Per Amt Rsc Pay 

IRREGULAR 


JrtnrTo Gfwffi Fd 
Japan OTC Ep Fd 

- .02 11-24 12-22 

- *8 11-24 12-22 

DevGnvA 

- 1*811-12 

11-20 


Nasdaq 



w 

Market Sates 


i|S S8 

if m 

iS 


WHEAT (CBOT5 

5*00 bo aSotaum- arts per burial 

Dec 97 34Sft 341 341ft Oft 41419 

Mor90 362 356 357 -» 31029 

May 98 370 365 34516 -31k 4412 

JutM 374 370 37OT4 * 1473T 

&t sdes 25000 WMs ale, 21849 

Weds open Inf 101*54 C fl 1*72 


Nor 97 51240 501*0 51140 +23.70 1 

Dec » 515*0 488*0 S13JD +2330 49*79 
Jan 98 S1540 +2140 27 

*CT» 520*0 49100 51970 +2340 29*92 
Muy98 52140 505*0 52140 +2340 2*18 

Jul98 52340 511.50 52160 +2340 3*25 

Sap 98 525*0 494*0 525*0 +23JD 626 

Dec 98 52870 512*0 52870 +2140 3*38 

Ett soles 23*00 Weds sales 11146 
MfcffS open M 94*58 off 335 


EURODOLLARS (CMER) 

SI nBfcn-pKrtlOOpcL 
Nor 97 9416 9413 9414 -0*3 71788 

Dec 97 9410 9413 9415 -0*1 534546 

Mor98 9419 9411 9416 *002 434142 

Am 98 9416 9406 9410 *0*1 343440 

Sep 98 9410 94*0 9405 +0 02 265.295 

Doc 98 94*1 9191 9195 +0.01 220649 

Marff 9400 9191 9195 +0*2 161*87 

9196 9187 9191 +0*2 134105 

9193 TIMA 93*7 vOOl 109*56 

93*5 9178 93*1 +0*1 84747 

9JA6 9179 93*2 +001 70,752 

93*3 9176 9180 +002 50566 

EsL sales N A tods sates 549,146 
Weds open M 2*52*40. up 20557 


HEATING OIL (NMER) 

42*00 goLcenb per grt 
Dec 97 5095 5757 58*2 *070 49.210 

Jpn98 59*0 5830 S976 +060 3ZJ63 

Fob9S 5V JO 58.95 9926 »<US 14*07 

Mar 98 58 75 57 90 58 41 .(US 9.753 

Apr 98 57.10 36.7s 5474 +02S i7K> 

MQ798 5540 5136 5536 +Q7S 4035 

Jon 98 54*1 54*0 54S1 +020 

EsL srtes N A Wetfs sale, 21436 
toffs open hi 127.779, rtf 425 


1221 


Jun 99 
Sap 99 
Dec 99 
Mor 00 
Jan 00 


BRITISH POUND (CMER) 

6Z500 pamdv S per pound 

Dec 97 1.7022 1*916 1*952-0*080 50492 

Mar 98 1*936 1*830 1*882-0*000 662 

*«98 1*802-0*090 74 

EsL Mies 4764 toffs sales U*9S 

tods open M 99*20 BP 1279 


USHT SWEET CRUDE (NMER) 

1*0Q W.- dotan pet bbL 

20.79 20 41 20.70 +021 *1100 

JOT™ 20*1 2186 +018 84035 

SSI 30 ' 4S *0 15 37.908 

30.70 20.77 ,ai3 22*87 

2-2 +0.12 17*00 

May 90 J057 2ffJ9 JO 54 +dl1 19.7M 

EsL sales N A Weds soles 50686 
tods open Ini 404B9S. up 2.294 


PLATINUM (NMER) 


% 


151 


Tartr 


NY5E 

Am«r 

Nasdoq 

lomjmons. 


63055 692*9 

33*7 34*4 

670L23 702*9 


Livestock 

CATTLE (CMER) ■ 

40*00 to- certs per II 
Dec 97 .66*5 6415 6442 *.17 

Feb 90 6090 6U5 68*7 +020 

Apr 98 72J2 7153 TL2S +0*7 

Ain 91 7BJ0 7000 7085 +0*5 

» |98 7033 70*3 70J0 undL 

98 72*5 72*0 72*0 unch. 

Est sales 14207 todft sate 11838 
Weds open 88 99*70 up 1*66 


30728 

30183 

14203 

11*14 

1916 

1*20 


Jon 98 391 JX) 38450 30470 -AX 101*25 
AWW 389*0 38X70 38X70 -4X 1*11 

*098 380 JV -430 86 

». sedes NA VSeffs wrie, 1.19S 
Wetfsopen Irt 11,969, i*35 

LONDON METALS (LMH) P 1 ^** 1 * 

Ootkes par metric tan 
" KHUftGrod*) 

141400 1617*0 I6KL00 |6!1*0 
16(3*0 166400 1638*0 1639.00 
ttodtioijd&erM*} 

1939*0 1940*0 1956*0 1957*0 
196100 1963ft 1977ft 1970ft 


CANADIAN DOLLAR (CMER) 

100000 dDOan S per Cdn. db- 
5*2 7111410006 65*76 

Mar 98 .7135 J138 JT 43 *0005 4652 

Jun 98 .7180 J169 J1 69 -0.0004 813 

EsL rtles 1929 toffs soles 4659 
toffs open Irt 7I*U off 313 


NATURAL GAS (NMER) 
laooo mm Nus. s per ewi btu 
D«97 3.490 1M0 3351 0226 47.326 

£22 Ji 5 ? ^ 0109 39*53 

J9SS 2- 950 -01 10 25.434 

JSS 7AX 1AX 17.784 

*(=' 98 1370 2*10 2330 -004$ 11.539 

May98 2355 1210 1220 -0043 4702 

ESI wiles NA toffs sates 51059 
toffs epen M 237,971 up 1,94) 




Company 


S» Homo 


STOCK SPLIT 
Lflserty Rnrt -3 fsr2 spflL 
Nttwost BnqJ 3 fcr2 spot 

REVERSE STUCK SPLIT 
RendnmctGaKI krdrennpipnt 

INCREASED 

MeddllonRnd a M 11-17 IH 

TnntmoiKCaip Q .165 12-1 13-1S 

YEAREND 


FPbipA 

Elran Elecfrartc 
GreenPotalHn 
HHton Hatrts 


“■SSL 

[rn soennwc 


FstFtndFimd 


_ 3*511-28 1-13 


T«8**S 


2!% ZTT 
U lift 
6h 5ft 
lift 15H 
i7v? in 
21V. 21ft 
9ft I 
MW 1ft 
llUk lift 


SPECIAL 

Luke Artel Bncp - ^3 11-24 12-15 


INITIAL 

Lake Ariel Bncp n . JJ911-24 1M5 

Liberty Find n - .1011-26 12-10 

TimHoeeanOWi . JO 126 12-19 

REGULAR 

Attn tap , O .1011-26 

Boeton Aausfics Q .12512-19 


IndueW! 

Intel Corp 
MocDwmM Inc 
MarigjCp 
wirtSfi Indwll 
NCEPolratoMo 

NoccalndusA. 

PBon-AmerGip 

PepNCnlnc 

Pioneer Group 

ProopedStHl 

OwPier Chora 

RWTfoodHWoa 

S’®* 

State' Prop 

SkyWetflnc 

TriroNartti 

UnHMCoro 

United Co Rod 

WetttoodHo 

WoWwn Lumber 


Pw AM Roc Pay 
Q JQ 12-31 1-20 

3 JO 11-28 124. 

-06 12-1 12-15 

B JS 11-21 12-5 

0 JX 12-5 12-19 

Q 4B 12-12 12-31 

- M TT-23 12-1 

0 *3 2-1 3-1 

Q *5 12-15 1-2 

Q .14 12-1 12-15 

o a m M6 

M U 11-18 11-38 
Q .195 12-1 12-15 
Q M 12-1 12-15 
Q .125 12-12 1-1 

O .10 12-1 12-9 

M *3511-21 11-28 
0 .18 1-16 1-30 

Q JM 12-15 12-31 

3 *6 1-9 1-30 
.M25 11-19 

o a u-28 

0 .05 12-31 

0 .15 12-19 

Q *3 12-12 

Q J* 12-15 . _ 

O .0711-20 11-28 

0 sn 12-1 1-2 


FEEDER CATTLE (CMER) 

50000 Dm- certs per ft. 
tol 91 77*0 7730 7750 4X>7 

JonW SLOB 79J5 79.70 BndL 

Mor 98 79 JO 7920 7920 *035 

terW 7935 7930 7935 +030 

Mor96 3035 79J7 8022 +OI2 

AligM 82.10 81*5 8L10 +030 

Est softs 2J37 toff, sedes 1*31 
tods open fat 14019. off 49 


lood 

SSnte 

NkM 


572*0 

SB64J0 


57400 

588*0 


537ft 

591ft 


578ft 

592*0 


A230 

7386 


TIB 


<130*0 4135*0 6195*0 6205*0 
6275*0 622000 6290*0 6285*0 


1*43. 

9se 

<17 


5ptd 5555*0 5565*0 5ilS*D 5610*0 

Hroord 5540*0 555000 6280*0 
ZteCSpKMHfab finde) 

SP0» 11® 1167ft 1172ft 1173ft 
1191ft 1192*0 1197*0 1198*0 


400o Bm- cert, per Bs. 

Dec 97 6175 51*0 6165 +055 14927 

6185 6132 6180 +033 13302 
Apr 90 S950 5470 5930 +447 5.165 

JW19B 66*0 6&70 66*0 +0.17 1490 

■him 64*5 6640 6467 +0.15 1*59 

Esf.10186 7*45 ftbffl sofas 1«M8 
toffs Open 11140,771 up 418 


HI# Low dose dip# OpM 


12-2 

12-5 

MS 

1-2 

1-2 

1-2 


PORK BELLIES (CMER) 

41000 fes- contsper Is 

Feb 98 6170 61*2 6115 4.10 4163 

Mar 98 ffl*5 60*5 41*5 +0.10 1*60 

May 98 62*0 61.17 61.17 -0.10 396 

Eat. softs 2*12 Waifs Idles 1.918 

toffs open H A0R& up 187 


taw tit 00 9495 +0*1 

W*0 95*5 +003 

Jun 98 9102 M97 98*0 +0.06 

S«PW *495 undL 

at"** NA tote softs 644 
toffs open tafl 0695, up 413 


GERMAN MARK (CMER) 

125*00 marts. Spar mart 

*805-0*023 71733 

Mar 98 .5855 .5830 *834**023 KH2 

■to 98 J875 J359 J8S9-0.0023 JSl 

faLeofai 17*01 toffs ertes 31.736 
weffs open Ini 74554 off 479b 

JAPANESE YEN (CMER) 

li!S ak * , 2S s P2L I00 »* n 

ta97 M032 .7934 .7965+0*012134939 

fl f 1 , ■* ow *079+0.0014 1*59 

Jun 98 *200 *192 *192+0.0015 267 

Est. soles 17*24 tods lolee 31535 
YletfS Bmn fat 339,164 up 4*17 

SWISS FRANC (CMER) 

125*00 francs. I per franc 

Dee 97 .7219 J1J0 -7161 -0.0037 sun 

Mor 98 .7244 .7218 7226 -0*TO 2*34 

Jun 98 .7302 .7390 .72904*^ Tie 

Eel. srtei 13L665 tods softs 1 3*81 

tods open fat 54224 off 466 

MEXICAN PESO (CMER) 


UNLEADED GASOLINE (NMER) 
■Q.000 gal cools per pof 
Dec97 59.90 5830 59*5 *0.93 

J?n 98 59.95 ST9S 9*4 *471 

5*S *222 W84 

to* 60.15 (029 -0 49 

SSL’S. «-7S *040 

MarM 63 AS 6945 63*5 «0.S 

ir» fl-s? *»■“ «*o +o3o 

Jld9B 60*5 60.85 60*5 *030 

Est sales NA toffsiafas 21950 
Waffs open fat 90*34 off 1.131 


94143 

71.374 

11,103 

4275 

4M1 

1559 

4508 

1426 


GASOIL (IPE) 

UAMftnBermeMc tan- late Dl loom 

torW 187.25 119*0 181™ +200 31673 

DecW 183*0 179J5 iglTS +l'S 14180 

Min * 07S la; * 

fnb9I 17B4fl 177.00 1 7775 *.n -c - — 

Mar98 175.50 I74JS 17500 — gs 

I nji ^ 

MoyW 17U0 171*0 171*0 —Q.58 

Ert. vnee- 11675 Pm. Wes 
Prar. open hi- 84576 o« 8.105 


4576 

1667 

1.142 

7.565 


4997 

5.139 

536 

23 


Dec 97 .11860 .11680 .11785+ *0567 1A437 
Mor 98 .11350 .11220 .1)290+*K67 KLIM 
Jfat98 .10920 .10780 .lOeSUSuM 1773 
Eft. sate NA toffs SrtBC 1620 
weffl upon W 35*19, off 251 


* ’U TREASURY (CBOT 1 

ra les 49.000 toffs sate 57*76 
toffs open M 244045, up UM 


731759 


1W 

1-23 


in m 


riiari/ApRio^ wyfltoh i Canodke fantev 
«HDBoHili6 q-ffuarteifR s-smianabteT. 


TiHedi 

TfaMSI 

UTIEflfl, 


Vs Vs 
36 M 
ni t 
Wh Uft 

n » 


& * 

14V. A 


IP 

VbHa> 

VNlB 

VkM 

VbNCS 

vnFdrt 

Hun 

wucrt 


fffRFT 

fate 

mfesiT 

WEflMta 

IIS. 


Stock Tables Explained 

SdofiguRsore uwflkiol^ Yeoriy MOnand tons nfiiCPw pmtous S2 notes plus the anwff 

nta been pau mo man iffgh-taw range and amend are shom tefhe ram starts arty. Uiffas 
eftonutentoa rateaf dhtanteore 

a-dWitondatoBxtia W, b - onnwri rete d dividend pin stock tJftWend,e-DauWa««i 
ifividand. tx - PE eweed* 99XU - ad lad- * ■ now yearty law. dd - ion In Itie tart 12 nrotiS 
a - dividend declared or paid In preceding 12 irnihs. I ■ annual rate, hnndenkrt 
dfdanrilan.8 - dfaMndln Cana&n funds siff[ertn 

dedared after spflt-up or stack dMdemLt-dMdend paid ItibyuA^rtttM.MenHLvnB 

action taken at knest dMdend a teritafl. 8 - dM&d daSlTpSl mftSr m 
oceumutaivw dMdwtes in arrears, m -annual rale. rediXBd onftsr aJUuUrJZ, 

n - new issue, hi me past 52 weeki The hiflh-lwr range bertns wWi the AatafhmiEn" 
rtd - next day delvery. p - mitial dividend, annual rate unknown/p/E - price-eonftaartito! 
q - dased-end rmrfualW r -dividend declared or paid in p raced (ra 
dhridend. s - stock spIB. Dividend begins wan data of spit VUSSteSSM 


1610 


Food 

COCOA (NOE) 

10 metric ton- s per laa 
Dec 97 7624 1608 

Mar 98 1668 1651 1652 

May98 1694 1677 1678 

Jiffte 1710 mo 1700 

1731 1730 1720 

1746 1739 1737 

Ert. tote 4599' totft sofas 1S172 
tods men M 9437a off 4193 


Jiff 
5® 98 
Dec 98 


•4 1481 

■a 44905 
41 17*73 
-6 4099 
-4 4402 

4 M87 


COFFEE CWSe 
37*00 fas- eenft per ft. 

Dec 97 166*0 157*0 164 40 +4J3 4350 
Mar 98 152*0 145*0 151 JO >415 9*38 
Mar 98 147*0 142*0 1 4625 +125 1138 
Ju198 142.00 13850 MOO +100 1110 
54*98 13MS 1U9Q 138*5 *175 L107 
EsL sales 1L9S2 toffs softs &620 
toffs open H319791 off 234 


^RTSEASURY (C80T1 

EfjWjBwrfew 

junog 111*5 liiln HIS ”’i» 

^w|ta9Z»2 toffs sofas 67*38 
toffsepen bit 41064A up 4780 

» (cbot) 

A 32nd* ollOO pell 

Stew I t'S iJZ'2? 1*10 * 05 59486* 
H? -20 117-21 11842 + 05 121396 

£?5 UMS U U7-23 +06 11598 
r?!!. 117-13 + 06 2*07 

S'lSSfSf'SL’ *tos 374134 

rwn open W 739*94. up 496* 


3- MO NTH 8TERUNO (UPFE) 

CZXLOOO ■ pftef 100 pet 

Dec 97 9134 92*0 92*2 +4*1 141 Ton 

Mar 98 9224 9118 92*1 +W3 Silt 

jwiM n.23 9116 nj o JSS 04*13 

tan 912* 9129 +M* 

Dee 98 92*4 92*8 914 teos 

Mar9P 9161 92*5 92*9 57*6? 

JonW 9178 9172 92*6 3SS saw 

Etttaftfc 107,71ft Pmr.srtefc 214867 
Pro*, open fat.: 744243 up 13,141 


BRENT WH1PE) 

uecvr 19* 19JI 19 S +nj+ 21X463 

ft 2 *fti5 Em 

'I-? 3 '9*5 tv.*; _n» 4 -- - 

r ! J S i*M 19*3 +o is 

*WW 19.40 19*2 19*9 .814 

®y98 19*5 1910 1928 +5!? 

Eit softttSlOQQ . Prw.saft, -54«4 
Pitv. open nt. '160977 off 1 1.2») 


+016 314*6 
7201 
... 4931 
>013 4099 


SUSARWORLD II WCSC) 

I timo fa*- C0ih per lb. „ 

Mor 9# 12*8 1120 12*5 *008 12IM2 

May 98 12*1 1U6 12*8 +0.03 3D*M 

Jlff98 12*6 1201 12*3 +0*3 23*S 

Od *8 11.91 11*7 11*9 + 0*6 22*80 

Est salk 11488 toffs softs 21175 
toffs open fat TOAOBa off 307 


UHWO tLTtUFFQ 

Nte98 urSlSSffifS 

Wr» 117 26 117*7 17-W +0-11 34004 
JWW N.T. N.T 117-12 *0-11 184502 

m*-aponw, 184502 an 3*32 


3-5MNTH EUROMARK (UFFE) 

DM1 nMkei-pbaf lOOpci rU 

S*S W*3 +0*1 44ip 

Dee 97 96.16 9413 9415 +0*3 29*681 

Jan 90 9412 9411 9412 +OM Z«o 

T° r 2 *0*3 308*55 

S2 S -4 ? 9449 77*170 

3tp9B 949 95.46 91*3 +0*7 208.1)0 

Dee 98 95*4 9428 9133 +0*7 107*22 

«« tSwioLm 

J™ 99 9KM 94.96 95*3 +008 97.706 

Sap 79 9490 94*3 #489 +0*7 

U.srtOkia.152 Pm. ertes- 230890 
Pm. open tat; 1*10*22 up 4153 


Bmjssar* 

SteM ««U0 WJB.ll 40 311.34: 

to+98 93090 9ia*o yiurt .11 -- - 

to 98 938*0 937*0 } M 

EH. eoles WABWmn, U2*n 
toffs open fat 40455ft ua 3,9)8 


? 00 


.4*1 

*2W 


GERMANeOV. fiUNO (UFFEJ 


DNlMflO^pIspMOOprt 

2.17 102JQ 


DSC 97 102*3 102.17 losn iota sexn+i 
Mor98 101*3 101*0 i«A2 1 OJO isaji 

S5, , 2Sb7 l %Sr" tai 

PrtV mnM- 249*82 4,913 


3-MONTH PI BOR (MATin 
FF5 nVfftn - rtsollOB pel 
D«9? 9431 9618 9420 + Ml 51531 

Mar 98 9493 9481 9491 +002 51*41 

Jun 93 9469 9463 95*8 , 0JH 31,20+ 

S9P 98 94*2 9406 95*1 * 00J 19.4U 

DecbB 95*6 9430 9536 +04U 23*26 

Esl eales: 43.798. 

Qpan fat.; 26X249 up ft 


FTIE 100 (UFF8) 

03 per bidet oalrt 

&S»»8B 4 i« 

Sss ISSISjigi; 

Em soft, 

tanHM.;94»35upO 


400 MLM 
lu K61I 
0 00 1.726 


Commodity Indexes 


J -MO NTH EUROURA (UPFE) 

ITL 1 rnflUsn- rti allOO pa 

ta97 9X65 93*3 9165 +0.11 lt&«u 

Mor9» 9*38 94.M 9438 +0.13 11W17 


gSSSi’ 

cbb'" 1 ”* 


Oeu 

lrS19.Hl 
1.814 » 
IAJ.3S 
24315 


JSfgtop p *w 


PtMu 
N.A 
1. 812.SU 
leiffj 
243AJ 


L0IUM 

Irt 




V 

it” 1 





if 






•ir.MP 


r 


rtb 

* -iii* 


T,-‘ :.T * 

■WjN 
. -\fk 


,]m K M \KkK1 


- - ' tSS 


-,-eIP?- 

i- ' 









::-W3 





I 


. -,T. _ ^ 


- • - Ji-V* i 




*■•**121*11 


' i 




«<+«'. . . 


‘*1# 


■ 1 

- *1 

: ■ 1 






PAGE 15 


EUROPE 




Siemens Plans to Buy 
Westinghouse Units 

asOTnc som? < ? sh “** “Siemens wJJ sell something off 
ventional now? to buy the con- and then buy something twice as big ■ 
S*®™!® units of the next day.” 

Westinghonse had planned to 
Thi‘rf^,!rS^ ssaKll ° urs ® a y- separate its industrial business from 
w °Dld increase the elec- its media operations by the end of 
tremics and engineering company’s die year in a tax-free spin-off to 
torftenwta ft* powers- dartholdos. * 

q . United The company has said it will sell 

wLJ? Thcnno King, its lucrative transport 

j 1 ? u ^.* 411 American com- refrigeration business, to Ingezsoll- 
l“E““ d “ Pittsburgh, is selling Rand Co. for $2.56 billion and use 
iUfrff-TK s ! Jbsidlanes to focus on its the proceeds to operate the indus- 

meaia businesses. Wes tingho use’s .trial business. Now h plans to put its 
power-gesneraiion operations consist gains from die sale into its CBS 
of unclear and conventional power- Coro, broadcasting arm 

Last month, Westinghonse an- 
f j sale to Siemens is not ex- nonneed it would cut 2,000 industrial 
pected to include the nuclear unit. jobs, including about 1300 at the 
the source said. 

The companies refused to com- 


ment on any pending accord. 

The nonnuclear energy business 
makes turbines, reactors and control 
systems for power companies. It ac- 
counted for about one-third of West- 
in gh ouse’s non broadcasting reven- 


power-generation unit 
Besides CBS, Westinghouse's 
media operations include the largest 
holdings of U.S. radio stations. 

( Bloomberg . AP) 


Virgin Express 
Begins Trading 

Bloomberg News 

BRUSSELS — Virgin 
Group Ltd. sold S96.3 million 
of shares on the Nasdaq stock 
market in the United States and 
the Brussels stock exchange in 
an initial public offeringThurs- 
day for its Virgin Express Hold- 
mgs PLC subsidiary. 

The company sold 6.4 mil- 
lion American depositary re- 
ceipts of Virgin Express, a low- 
cost airline based in Brussels 
that operates short-haul flights 
in Europe. 

The ADRs, each representing 
one-third of an ordinary share, 
sold for $15 each, at the top of 
the expected price range, said 
Merrill Lynch & Co., which 
managed die offering. The or- 
dinary shares were priced at 
1,602 Belgian francs ($45.53) 
in Brussels. The sale gives Vir- 
gin Express a market value of 
about $216 million. 

In afternoon trading in New 
York, Virgin Express's ADRs 
were up 873 cents ai 515.875. 


France Said to Weigh 
Sale of Renault Stake 


Bloomberg Sens 

PARIS — France is considering 
selling part or all of its 46 percent 
siake in the automaker Renault. 
ABN-AMRO France said Thurs- 
day, as it prepares to dispose of more 
state assets ahead of the adoption of 
the single European currency. 

The government has chosen 
ABN-AMRO Rothschild and Credit 
Agricole Indosuez 5 A to advise it on 
the sale, a spokeswoman for ABN- 
AMRO France, Anne Lavat, said. 
The 46 percent stake would be 
worth 16.4 billion francs ($2.8 bil- 
lion) 'at current market prices. 

A Finance Ministry spokesman 
said the government had nor made 
•‘any particular progress” on a de- 
cision to sell more Renault shares. 

A spokesman for Renault said it 
was up to the slate to decide whether 
and when to sell its stake in the 
group and added that it had not been 
informed about any such plans. 

Credit Agricole Indosuez de- 
clined to comment. 


ue of $4.2 billion last year. Based in 
Orlando, Florida, the unit 


7.000 people ^ 5S Profit Up, Euro Disney Raises Ticket Prices 

percent global market share. 

“This would make Siemens the 
only company with a strong position 

In Hua tin4\tfiA 1 * . 


Coo^bdrd by Our Stiff Fnxn Dbpsarha 

PARIS — Euro Disney SCA on 
Thursday announced a 73 percent 
rise in annual profit and said it was 
raising entry prices to its Disneyland 


in the turbine-power business in 
Europe and the U.S..” said Kevin 

Brau of Credit Suisse First Boston. D 

Each of the other players has only Paris theme park, 
a small presence outside their home Gilles Pelisson, the company’s 
markets.” chairman, said net income tor the 

The Westinghouse units would be year ended Sept 30 rose to 217 
only the latest of several acquisitions milli on francs ($37.8 milli on) from 
at Siemens this year, including its 202 million francs in the year-earlier 
planned 2 billion Swiss franc ($1 .43 period. The number of visitors rose 
billion) purchase of Elektrowan to 12.6 millio n from 11.7 millio n 
AG’s building controls and security Revenue at Disneyland Paris ad- 
business. Though die acquisition fits vanced 10.2 percent, to 5.48 billion 
Siemens’s plans to shore up its basic francs from 4.97 billion, 
businesses, including power gener- ‘ ‘The year of the fifth anniversary 
ah on, it slows its progress in slim- has been a big success," Mr. Pelisson 


said. “We faced a major challenge in 
fiscal year 1997: to deliver ^positive 
net income, despite a significant in- 
crease in financial charges.” 

Shares in the company rose 10 
centimes to 730 francs. 

Euro Disney, which is 393 per- 
cent owned by The Walt Disney 
Co., faces an uphill battle to main- 
tain profit as a 1994 moratorium on 
interest and principal payments of 
its debt and leasing agreements 
draws to an end. If the company had 
paid these costs in full in 1997, its 
profit would have been wiped away, 
analysts said. 

“These results are a demonstra- 
tion that this company has got to run. 


and run hard, just to stand still,” said 
Nigel Reed, analyst at Paribas Cap- 
ital Markets. * ‘Revenue was up 10.2 
percent, which is good news by any 
measure, but if you strip out the 
interest holiday of about 250 million 
francs and the exceptional gain of 52 
million francs, this company made a 
loss of 85 million francs.” 

For the 1 997- 1 998 financial year; 
the company will raise low-season 
entry prices for children to 130 
francs from 125 francs and to 160 
francs from 150 francs for adults. 
Peak-season prices for children will 
rise to 155 francs from 150 francs 
and to 200 francs from 195 for 
adults. (Reuters, Bloomberg ) 


France sold 25 percent of Renault 
in November 1 994 and a further stake 
in June 1996. The Socialist-led gov- 
ernment has become bolder about 
selling stare assets since raising 42 
billion francs in last month's sale of 
France Telecom SA shares, as it 
needs to raise funds to hdpit meet the 
economic and fiscal criteria for the 
European single currency next year. 

“It's completely logical and ex- 
pected,” said Marc Renaud. a fund 
manager at CCR Actions. “The 
state is not meant to be in the busi- 
ness of making cars.” 

Renault shares fell 3.90 francs to 
close at 14630. Mr. Renaud said he 
expected the news of a possible sale 
to continue weighing down the 
shares. 

ABN-AMRO France declined to 
speculate on the timing of any sale 
of Renault shares. The French news- 
paper La Tribune reported Thursday 
that the government was preparing 
to sell more of its stake in the second 
quarter of 1998. depending on the 
sWe price. 

■ Cross-Border Bids Defended 

The chief executive of France’s 
largest financial institution called 
for the country to be open to foreign 
investment amid an outcry over an 
Italian company's takeover bid for 
France’s ihird-largesr insurer, 
Bloomberg News reported. 

But Philippe Lagayette, chief ex- 
ecutive of Caisse des Depots & Con- 
signations, also said the state would 
retain control of a large part of 
France’s financial industry. 

Assicurazioni Generali SpA. 
Italy’s largest insurer, opened a $93 
billion hostile bid Ocl 13 for As- 
surances Generates de Ranee SA. 

Mr. Lagayette, who is often seen 
as close to the Socialist Party, said 
consolidation in the financial in- 
dustry was inevitable. “The play- 
ers' size must grow because of the 
single European market,” he said. 



Frankfurt 

DAX 

4500 Jii 

m f f *V 

s/V 

■ m/ 

^JJAS 

1807 

London Paris 

FTSE 100 index CAC40 

5500 m . 

V=M=/V\ 

|l 47M^r ^ 27D0jT P 

ON' JA SON JA SON 

1807 1997 

Index Thursday Ptbv. 

Close ' Close Change 

A EX 84&S4 844.52 +029 

Amstftfddfn 

Bruawria 

S EL-20 

2304.42 

2^04 

+0^3 

Frankfurt 

DAX 

3,70429 

3,659^7 

-6-T-23 

Copenhagen 

Stock Market 

610/45 

811.42 

-0.16 

Helsinki 

HEX General 

3^30.80 

3,33^34 

-0.14 

Qato 

OBX 

G7&21 

673.46 

<0.41 

London 

FTSE 100 

4,711430 

4,720.40 

-050 

Madrid. 

Stock Exdrange 

sttse 

541.64 

+1.36 

RBtan 

MiBTEL 

14785 

14678 

+0.73 

Parte 

CAC40 . 

2,70066 

2.696.60 

+0.15 

StocWiottn 

SX 16 

3^67^7 

3,126.58 

-1.89 

Vteooa 

ATX 

1,232.22 

1,233.93 

-0.14 

Zurich 

SPJ 

3,431 JSO 

3.442.50 

-0^2 


Source; Tetefturs 


Uutnufi>*ul MLiaUI Trthu.-k- 


Very briefly: 


• VEBA AG's net profit rose 12.5 percent in the first nine 
months of the year, to 1.38 billion Deutsche marks (5806 
million), on strong growth from oil activities and trading, 
transportation and services. The utility company forecast its 
frill-year results would show similar growth. 

• BASF AG's nine-month net profit rose 10 percent, to 2.26 
billion DM, as growth overseas offset declines in Germany. 

• ABN-AMRO Holding NV's investment-banking business 
will operate under the name ABN-AMRO, dropping the 
names Hoare Go vert, Chicago Com. and others in early 1998 
to present a more uniform image, the company said. 
•Germany's Automobile Industry Association is setting up a 
working group to propose uniform car-safety tests worldwide. 
Its announcement came two days after Daimler-Benz AG 
halted deliveries of its A-Class model after the car failed a 
Swedish safety test. 

• The European Union's unemployment rate was steady at 

10.6 percent in the three months through September, the 
Eurostat statistical service said, but September’s total of 17.9 
million people unemployed was 424,000 fewer than in Au- 
gust, on an adjusted basis. AFP. AP. Bloomberg. Reuters 


WORLD STOCK MARKETS 


Thursday, Nov. 13 

Prices In local currencies. 

Tetekurs 

High Law Close Pro*. 

Amsterdam aexukmlm 

Previous: M4J2 


High Low Close Prev. 


ABN-AMRO 
Aegon 
Ahold 
Alan Motel 
Bonn Co. 

Bob Whs cm 

CSMcvn 

Donfcdie Pet 

□SM 

Elsevier 

Fortis Amev 

Geirorfcs 

G-Bmccvo 

Hogeme^w 

Hemeten 

Hoag awns cm 

Hunt Douglas 

ING Group 

KLM 

KHPBT 

KPN 

NedfcydGp 
Nutrida 
OceGrMen 
PNBps Elec 

RonSitadHdg 

Rnbeco 

Rodama) 

RnUnca 

Raenta 

Rows Dutch 

Unlever on 

VtndexM 

VNU 

Water* W cm 


37.40 36-50 
15020 15240 
®-80 0.10 
330 322 

133 12870 
30.10 2970 
88 86 

100.10 9840 

17550 17420 
3050 3040 
7670 75 

6870 6750 
5070 50.10 
8050 79.10 

32050 31370 
8730 8649 
8050 7930 
8150 7930 
7050 69.10 
4530 4450 
7740 74 

5570 5350 
5440 5250 
20530 19940 
13930 13330 
107 10160 
7740 72 

175 17330 
56.90 56.10 
161 16670 
11B50 11750 
10130 9970 
11030 10850 
1MJHS 99 

46.10 4530 
240 236.90 


3730 3670 
158 151SJ 
4870 49.10 
32870 323.90 
12870 13340 
30 2940 
86 88 
9950 9930 
17110 17470 
3040 3070 
7110 714) 
68 68.10 
5030 5050 
7930 6B 
320 31350 
8670 8650 

mra bo 

B0 81 

69.10 7130 
45 4530 

7650 7440 
5420 5490 
5340 52.60 
19950 20250 
13530 14030 
I 0570 10450 
7250 7750 
17350 17350 
5670 5690 

167.10 16770 

1175B 11750 
100.90 100 

109 10970 
9940 99 

4610 4540 
23770 238.90 


SGLl 

Siemens 

Sp ringer (Ai asO 

Soedzudcer 

Thjraen 

VEW 


Bangkok 

AdvtnfcSvc 
Bcngto* BkF 
KiwwThoi Bk 
PTT fc*ptor 
54am Cement F 
Skim Com BkF 
Teteccswsto 
Thai Always _ 
Thai Faran BkF 
VtdCowrn 


212 

206 

206 

146 

139 

1® 

18 

1675 

1715 

396 

3® 

370 

390 

376 

382 

84 

71 

to 

20J5 

1950 

1950 

49.25 

47 

47 

111 

105 

109 

63 

5&5D 

61 


Bombay 

Bata) Auto 
Hindus! Lever 
HmdurtPettn 
Kid Dev Bk 

rrc 

Mteanoflor T«l 
Re6anC*tnd 

State Bk India 
Sled Authority 
Tola Eng Locn 


55850 

1315 

<52 

8930 

554 

23150 

168 

253 

14 

336 


Brussels 

Atmortf 
Boko md 
BBL 
CBR 

Cobuyt ,, 

Del lube Lion 

Etartubel 

Etoctraflna 

Forts AG 

Gevumt 

GBL 

GcnBonquo 

KracMMi* 

Pc hotao 

POWOTW 

Sohray 

Tractate! 

UCB 


BEL-20 MW 230442 
PiWtaBK 228254 

1500 1482 1500 14B6 

67JD &m 6700 6660 

9380 92»1 K40 W90 

3115 3050 3085 3100 

18400 19050 18325 1M0O 
1745 1730 1740 1730 

8150 7980 8130 8010 

3230 3165 3230 3300 

(MB 6603 SS8 6610 
M50 1400 1400 HOT 

5300 5260 5290 5250 

14375 13825 14275 1M50 
14Q50 137 SO 14000 13800 
13450 13075 13£D 1*® 
5090 5040 5040 5050 

9740 9510 9610 9H0 

SSgii 

nSnS nSSnBS 


Copenhagen 


stock tade»6|M5 
PlWriillK 61142 

408 410 41156 

T35 337.66 339 

90S 907 930 

339 343 3« 


BG B«* 411 

HI 5T*BHg B n 

KOD Lufthame 7B5 784 704 7B 

NvONOtffekB HU« JO ”5 73M4 

urssa « 1*1 i 

KffiE. £8 a 


Frankfurt 

Adidas 240.70 

Alters HU9 392 

AAma 126,20 

BK Benin 39^0 

BASF 58J» 

isssmlsi 

tBm ** 

Bewog 
BMW, , 

CXAG Catania 
Caaitnerannk 
Dotetof Benz 

PWHdtoBwX 

BSS& H 

Fresenkn /& 

FraefltasMed 11600 

Fned-Wupp 37J 

Gehe 9310 

HMdetag.Zmi 
HenhdpM 
HEW , 

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Kontaril 
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LufthorooR 

MAN 

Monflesmam .. 

Meta«aMe # Kl» ,, B^2 

lUMrn /4JJ 

Muteh RueckR S7OS0 
Pwntefl 


7550 

39.80 

IMS 

149 

5970 

112J0 

7650 


137 
99 
NT 
69 JO 
67.80 
5*4 
76 
1045 
3075 

SIS 

754 


DA* 270AM 
PrevtoaK 365927 

14* 144 M9 

237 23830 24610 

387 392 380 

1JS20 13570 177 

3U0 38.90 39.95 
57 5755 5610 
7150 73-45 

99^1 9880 
045 5985 57.90 
73J0 75 73 

3950 3960 3M9 
1118 114f .J. 1 ** 
146 146 151-40 

an 5875 5870 

n6 f 6 VS 

« M ’S| 

66.40 67 Jo 

365 265 275 

11620 11620 117 

3n 50 37480 M 

^3 iS >37-20 
9J.JQ 9880 97 

JH & si 

74J0 76 73JM 

ttm 1035 1032 
3DJ0 30.60 3U5 
im 514 515 

74550 74* TrtJO 

7 S3 WB 3UJ 

7570 7630 74 

Ml 520® m 
ici id U 455 


Helsinki 

EnsoA 
Huttmaldl 
Kan fee 


Merita A 
MefcnB 
Maba-SeriaB 
Neste . 

Natta A 
Orton- YWymoe 
Outckumpu A 
UPMKynaneae 
VcteM 


High 

Low 

Close 

Prev. 

76® 

75 

7650 

74® 

486 

4TI 

483 49550 

16X50 

158 

15910 

163 

225 

220 22X® 

726 

10110 IOOlID 100® 

101® 

1329 

1379 

1329 

13® 

890 

8® 

B82 

080 

4Z7 421.50 

423 42450 

96TO 

9470 

9660 

91® 

555 

550 

555 

561 

B58 

m 

850 83950 

91510 

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PmtoOSC 333534 

46 

45 

4550 

46 

215 

212 21480 21210 

52 

5050 

5150 

51 

73 

7150 

73 

7150 

25® 

25.10 

25® 


133® 

133 13350 

13X50 

45JD 

45 

4550 

4530 

121 

120. 

120 

123 

41910 

4® 

419 

422 

202 

200- 

2® 

2® 

7X70 

7250 

7250 

73 

1® 

115 11950 

116® 

76® 

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7550 

75 


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BrtTeteoan 
BTR 

Burmah Qsboi 
Burton Gp 
CaUeWMess 
CodbuiySdw 
Carlton Comm 
Canml Unkm 
Cam pas Gp 
Cbutaulds 
Efixons 

Bedracompoae 
EMI Group 
Energy Group 
Enterprise Oe 
FemCoteiW 
GedlAcddmi 
GEC 
GKN 

GknoWMtame 

GnaiariaGp 

g^im- 

GiwnalsGp . 


Hong Kong 


Hasg Seep. *72671 
Prevwa: 960771 


SET bdoc 4S3J1 
PievkMR: 46927 

212 
145 
IB 
400 
390 
80 8650 
~ MTS 
50 
11 ® 
65 


Sawn 39 Mac 355611 
PcMfeHKi 3633.18 

545 54925 562 

1278 128975 1303 
444 446 45330 

85 8575 89.50 
535 53975 55475 
22625 22780 230J0 
161-50 163J0 16875 
24175 243 2S4 

1380 1375 1375 
326 33080 33575 


Bk East Asia 
Cottar Pacific 


China Light 
OBcPodBc 
DooHenaBK 
Flat Paw 
Hang Ling Dev 
Hang Seng Bk 
Henderson Iin 


HK Beetle 
HKTeiecomm 
Hopewell Hdgs 
H5K Hdgs 
HuWibouWti 
Hyson Dev 
Johnson El Hd| 
Kerry Praps 
Now World. D« 
Oriental Press 
Peart OrhmW 
SHK Props. 
Shan TafcH rigs 
SlnoLandQx 
Sth China Post 
Swire PacA 
Wharf Hdgs 
WtMHiodc 


650 

6.25 

445 

445 

15® 

1450 

1530 

1530 

7 JO 

485 

7.10 

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4880 

4410 

4/30 

4750 

1730 

1420 

14® 

1480 

35L® 

3420 

3550 

34811 

31® 

2930 

3070 

30.10 

17.15 

16 

17.15 

1755 

455 

458 

435 

447 

ID® 

930 

10® 

1035 

6075 

5750 

5X75 

5935 

635 

535 

535 

6 

3830 

3S.W 

37311 

37 

1X45 

I24U 

1X35 

1235 

2435 

2430 

26 

25 

1455 

1350 

14® 

1X75 

235 

131 

232 

1.® 

17X50 

167 

IA) 

16950 

49® 

4430 

4730 

47 JO 

1535 

1450 

1430 

15.15 

20-10 

19 

1935 

19® 

13 

12® 

1255 

1250 

2X70 

2235 

23 

23 

138 

133 

135 

130 

047 

1)45 

OjO 

047 

51 

4X20 

49® 

49 

258 

142 

252 

252 

430 

4 

417 

417 

5® 

520 

5311 

530 

3730 

36 

37® 

37.10 

15 

1X70 

1460 

1430 

7.95 

7® 

735 

735 


GUS 

Hays 

HSBCHUgs 

ia 

Iteri Tobacco 

Kbagflsher 

Lmnoke 

ImwtSse 

EteaKSenIGrp 

L loyds TSB Gp 
LtaosVnfly 
Mutes Spencer 
MEPC 

MeRurAosM 

NaHanTOGrU 
NafI Power 


Next 
Norwich Union 
Orange 
P&O 


PHUngtm 

PowwGw 


Jakarta 

Astro M 

Wt htfMndon 

Bk Negron 

GudongGonn 

IndooeiiMd 

Indotaod 

Lndosat 

Scmpowna HiW 
Semen Gtesfe 
TeMamunflcari 


CmsmiBi Mac 437.95 
PravtaOB 49984 

2150 1925 20® 3150 
700 675 700 JffiJ 

725 700 700 725 

8600 J150 8150 SMS 

1B0O 17M 17X 1825 

2725 2675 2700 2700 

8150 BfCffi 8150 8200 

Sim 5350 5650 5450 

3600 3575 3575 3600 

2900 2775 2825 2975 


Johannesburg MwggM 


ABSA Group 

AngtaAm Cod 


AngtaArnM 
AngloAM Pkrt 
AVMIN 
Bartow 
CG. SraOh 
De Beers 

~ » • — i- ■- 

LiimmIKnI 

FstNaVBk 

Genccr 

GF5A 

imperial Hdgs 

IngweCaal 

Iscor 

Jatmaies Ml 
Liberty (tags 
Liberty Life 
LaLBe Start 
Minareo 
Hampak 
Maker 

KembrondtGp 

Rkhenjant 

SA Breww tas 

Saroancar 

Sami 

SBK 

Tiger Oats 


30J0 

269 

198 

209 

14$ 

76 

830 

4675 

21 

108 

30 

4075 

9.08 

7040 

6070 

2020 

247 

5150 

328 

123 

16 

91 

16 

10570 

41.10 

$4 

5630 

214 

ufll 


2975 

267 

19640 

205 

M3 

7570 

610 

4595 

208B 

10540 

2880 

40 

875 

7010 

5970 

19.90 

2J2 

54 

32380 

11970 

15160 

98 

15*0 

104 

4070 

5280 

121X0 

32-50 

5580 

21370 


3085 3010 
267 24840 
19580 19780 
2O540 214 

143 144 

7580 76 

610 625 

46 4675 
2070 n 

10740 108 

2875 3030 
40.15 40 

875 9.10 

70.10 7110 
6610 SW» 

20 ID 

245 146 

55 5480 
324 320 

TBLflO 123 
15.00 1560 
9080 9020 
15.® 1690 
10570 10180 
<070 41.10 

53.10 5110 
12270 12280 

3288 3380 
5580 5610 
214 21370 
6640 6650 


RnKmckGp 
Rank. Group 
RedffltCNRi 
RBdkind 
Reedhtfl 
ReteMlnIM 
Reuters Hdgs 
Ranm 
RTZreg 
RMC Group 
KcSsRoyee 
Ratal Bk Seal 
Rowe & Sun AI 
Sim way 
Sdnsbuiv 
Schraders 
Sort NmkosSc 
S ari Power 
Seataav 
Severn Trarri 
Sta8 Tramp R 
Sfcte 

Smith Nephew 
SmBNCtoe 
SnKBM 
SttmElec 
Stogeanch 
Stand Cterter 
Tafe&Lyto 
Tesco 

Thames Htater 
31 Group 
11 Groan 
Tomldra 
Unilever 
Irtd Anoroncv 
UtdNm 

Utd UtDfles 

VendaoM Lr uto 343 
Vodafone 
WMbtead 
WHtamsHdgs 

WPP Group 
Zeneca 


422 

433 

417 

411 

1® 

1® 

1® 

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471 

455 

4.59 

458 

231 

133 

1J7 

1-99 

1035 

935 

10 

1026 

1® 

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131 

5 

478 

479 

430 

X® 

590 

5® 

537 

464 

453 

458 

492 

754 

733 

731 

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455 

6® 

655 

452 

237 

238 

232 

236 

489 

464 

657 

484 

lit 436 

425 

428 

435 

5.14 

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sjtn 

631 

413 

630 

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445 

416 

636 

6® 

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157 

139 

1.57 

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234 

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330 

353 

165 

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134 

137 

234 

5.99 

533 

689 

555 

5.28 

412 

617 

616 

1X75 

1235 

1225 

1150 

2.94 

237 

192 

233 


$ 

622 

615 

ft AS 

849 

8® 

738 

739 

739 

724 

356 

154 

351 

154 

2® 

244 

249 

242 

497 

658 

479 

483 

730 

7.58 

7® 

7® 

1J6 

133 

134 

134 

7J2 

635 

485 

4S8 

424 

413 

414 

419 

432 

415 

633 

633 

1030 

935 

10.12 

935 

351 

345 

X46 

143 

420 

835 

8-17 

Oil 

X41 

330 

133 

333 

5. 87 

559 

679 

675 

233 

658 

3 

23 

239 

629 

197 


193 

194 

757 

741 

747 

7 47 

935 

838 

X97 

831 

122 

113 

118 

117 

6® 

631 

6® 

623 

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537 

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633 

4 

191 

335 

190 

4® 

481 

465 

482 

1635 

1635 

1610 

1489 

651 

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455 

462 

446 

438 

442 

435 

182 


230 

233 

837 

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832 

856 

412 

199 

438 

199 

1138 

m 

1049 

1059 

133 

132 

133 

5J0 

612 

521 

619 

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1 

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430 

447 

450 

730 

755 

738 

753 

427 

6 

613 

6® 

462 

4® 

451 

461 

4B2 

472 

479 

472 

832 

855 

048 

836 

431 

459 

461 

474 

415 

405 

497 

532 

1® 

in 

193 

199 

432 

446 

448 

452 

5 


4® 

497 

731 

7.13 

7® 

7-25 

737 

7.16 

725 

3.43 

343 

343 

148 

3® 


138 

336 

836 

7.06 

006 

736 

3® 

130 

145 

343 

5 

233 

$ 

495 

238 

5 

231 

17® 

17.17 

17J9 

1731 


Kuala Lumpur 


AMMBHdgs 

Gambia 

MOlfianUng 

jvurt ran Shta f 

PetronasGos 

Proton 

Pubic Bk 

rSSSvww 

Rothmans P* 

Stale Dotnr 

TriekomMoi 

Temjga. 

UtdEngineers 

VTL 


580 

970 

13.10 

635 

9.75 

770 

11C 

3 

590 

2875 

456 

980 

780 

640 

402 


575 57 5 
970 975 
1270 1280 
675 635 

945 985 
740 785 

m 207 

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575 580 

2775 2825 
446 45» 

945 980 
770 780 

5.95 610 
190 384 


580 
9 JO 
1280 
57S 

980 

775 

2.14 

3 

60S 

2875 

486 

985 

770 

685 

4 


London 

Abbey Natl 
AfltooOonecq 

Angten Wrier 


ASSOC Brl 
BAA 
Bardin* 

Bou 
BAT fod 
Bank Scotland 
Bite Circle 
BOC Group 
Boas 
BPBInd 
BfltAerasp 
BrilAeway* 

BC J 
Brit Land 
Brit Petan 


FT-SETOfcdnMO 

Pratomr 472*40 
976 971 973 

692 581 484 

7.74 7.75 770 

449 680 649 

lS 179 UJ 
6U 81f 
491 5 495 

1482 14W 1466 
S79 841 
SJ7 SJ8 
655 461 470 

379 179 343 

972 980 987 

875 8.73 047 

372 374 374 

1555 1675 1678 
S88 67$ JTJ 
38* 284 288 

U) 680 673 

B73 >7! 875 


977 

5J1 

7.9S 

663 

180 

STS 

510 

1480 

&4A 

543 

474 

340 

983 

083 

375 

1638 

575 

274 

685 

635 


Madrid 


Bobo tadtra 54X9* 


Preview: 54144 


20600 

201® 

207® 

wren 

ACE3A 

1915 

1845 

1915 

1865 

ApwaBorcetan 

50® 

5590 

van 

5W0 

Anentario 

BBV 

8570 

3815 

3650 

85® 

84® 


1325 

1275 

ITflfl 

12® 


71® 

6750 

7150 

AflOQ 

Bco Centra Hlsp 
Ba Popular 

2620 

8*3 

as 

n!o 

sm 



3785 

3805 

3X70 

CEPSA 


4190 

43® 

J790 


2830 

7685 

28® 

3740 

togMapfte 

050 

26® 

6150 

2640 



FECSA 

1170 

11® 

M/l) 

II® 


6100 

5850 

4040 

9990 

taertrafa 

1780 

1755 

17® 

17® 


2075 

$07? 

7045 

2645 


62® 

6130 

n 

61® 

SnflanoEtec 

lit 

1305 

1330 

BIO 


112® 

107® 

11160 

1B75Q 

Ttefenkxi 

3840 

3770 

3830 

mt 


1425 

1375 

1425 

IJ85 

Vafenc Cement 

2835 

2005 

2820 

28® 

Manila 


PSEtadublNXSS 


PTWtaBKWUl 


11® 

12 

12 

1250 

AKrtoLmid 

BkPNflpIsl 

■ 13 

92.® 

1175 

91 

IX/5 

91 

1X25 

9350 

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1® 

156 

165 

250 


67 

66 

67 

66® 


770 

W 

m 

270 


X® 

135 

141 

145 

POBonk 

145 

1® 

140 

142 

PM Long DW 
Son Miguel B 

815 

A® 

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805 

4650 

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SM Prime Hdp 

6 

6 

6 

A10 

Mexico 


BOM Eodu 4379 J3 
Prevtaus! 433479 

AHA 

won 

57.70 

5840 

*.H» 


1570 

1614 

I.V19 

1574 

Cemex CPO 

3030 

27 JO 


2950 


1332 

1234 

1340 

1352 


3930 

3X30 

3X90 

39 JO 


5020 

46J0 

4® 

4870 


176 

7SI 

176 

270 

Gw Fin Inbrosn 

3030 

79 TO 

a® 

n n 

34® 

315(1 

31711 


TdevteCPO 

13730 13170 13730 134® 

TetMesL 

1830 

1720 

17.92 

17 JO 


MIB THnateB 147KJO 
PreMHO: M67U0 


Milan 


Akcraa Assic 14540 143SS 14455 14100 
BcoComm Itat 4445 4SIS <400 45JS 


BcaFUemm 

Bead Remo 

Benetton 

Cradteltalaho 

Edsen 

ENI 

Flat 

General Astfc 
IMI 
INA 
IkdfkB 


High Law dose Prev. 

6900 6725 6770 6000 

1619 1521 1559 1595 

252® 24351, 2WM 2460B 
42® 4135 4228 4100 

9280 0950 9190 9035 
9050 9745 9800 9750 

5045 4910 4925 4925 

39600 30700 39450 30000 
16560 16000 16560 16000 
3005 2928 3005 2920 

6520 6415 6500 6460 
8150 6050 8150 8145 


High Law Ouse Prev. 


High Low dose Prev. 


MroSobanar 

11710 

11465 

115® 

114® 

Mocdedlsao 

139 

1335 

1335 

1358 

OOvelffl 

974 

963 

964 

965 

Ponnakri 

23® 

2210 

2230 

2240 

PUeH 

4295 

4190 


4240 

RA5 

15495 

14995 

154SS 

14980 

Rota Banco 

236® 

221® 

225® 

224® 

S Paolo Torino 

12765 

173® 

12765 

123® 

Telecom taBa 

10420 

103® 

10360 

10315 

TIM 

6395 

6290 

63® 

6270 

Montreal 

MKHtaMee 3217J2 



Prevtoa* 317557 

See Mob Com 

4X30 

42% 

43 

43 

CteTteA 

2816 

2/50 

28 

n 

Cte UtK A 

39.90 

39B0 

3950 

31 » 

CTFkrlSvc 

47 

47 

47 

4755 

Gaz Metro 

19 

1850 

1X95 

19 

Gt-WedLlfcco 

33M 

3316 

3X35 

33M 

Imasas 

461b 

4SJU 

46.» 

4554 

htvesioaGtp 

45J5 

44M 

4455 

45711 


21W 

21 JO 

21 M 

MAO 

Nad BkCronda 

20.90 

2055 

2U.VU 

■M* 

PowwCorp 

45 

4455 

4410 

44 


AW 

AIM 

43h 

43ta 

Qw&snxO. 

‘JVM 

2M0 

‘KM 

ASM 

Rogers Comm B 

X10 

8.10 

X10 

7.W 

Royal BkCda 

nit 

7155 

73 

055 


Renaoll 

M 

Rh-PouiencA 

Sanafl 

Sdmader 

SEB 

SGSThmsai 
Ste Generate 
Sodesho 
StGobabi * 
Suez (Oe) 
SuHZLyonEauK 


CSF 


Total B 
Ustnor 
Valeo 


1867 

15080 

1589 

24980 

534 

315 

696 

406 

755 

2800 

804 

14 

Mi 

699 

15580 

625 

90 

37280 


1836 1841 

14*80 14680 
1521 1588 
243 246 

526 530 

•311 311 

676 684 

397 39980 
733 733 

2760 2799 
787 793 

M 14 

581 605 

660 fin 
150 153.10 
610 623 

B6J0 90 

36170 36680 


1840 
150.40 
1510 
250 d) 
530 
31480 
679 
39980 
752 
2774 
794 
1385 
593 

15490 

619 

8785 

364 


sea Paulo «-XSES? 


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BnrinwPfd 

CemigPfd 

CESPPM 
Cope! 
Eletebas 
IfawtancaPM 
Light Senrickn 


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Paulsta Lbz 
Sid Nocional 
Souza Cnrt 
TdetHujPfd 
Teiemig 
Tetat 
TetespPfd 
Uidxmco 
Usknbm Pfd 
CVRD PM 


6810 

65000 

3880 

6580 

9750 

46580 

43000 

34000 

27080 

21000 

10580 

3680 

7.70 

101.99 

109.00 

0680 

23880 

3150 

783 

20J0 


sm 

55680 

3580 

5880 

889 

42980 

41080 

30000 

22880 

19280 

0280 

3280 

785 

9280 

9989 

anm 

21080 

28JD 

670 

1U0 


670 *20 

56088 64880 
3780 3780 
62.990 5981 
980 9.15 
m m 43B80 
43080 42080 
30180 31180 
24580 25680 
m00 199.99 
9980 10180 
3580 3580 
7.15 770 

100.® 9580 
10480 10400 
*680 0180 
23080 22581 
29.98 2980 
675 689 
2080 1970 


ABBA 
ASstDoman 
Astra A 
Altai Copco A 
Aiilofw 
EtactrahaB 
Ericsson B 
Hermes B 
Incentive A 
brtUtarB 
MoOoB 
Nontrateen 
PlKrarViyohn 

Scania B 
SCAB 

S-E Banken A 
Sbnvfla Fats 
SbrnskaB 
SKFB 

SpatankenA 
Stan A 
SvHandefeA 
VMwB 


06 

2® 

12680 

223 

30280 

590 

315 

323 

657 

347 

21380 

257 

235 

22780 

176 

167 

8380 

SMI 

298 

175 

M 

102 

25450 

201 


84 8480 
196 19980 
121 80 123 

212 22080 
29880 30080 
STS 584 
307 307 

315 322 

641 643 

343 345 

211 21380 
248 251 

2M 233 
222 227 m 
173 175 

165 166 

8050 8150 
354 355 

250 292 

171 17280 
17680 17780 
99 1® 

247 25380 
195 19980 


8480 

195 

136 

220 

30280 

592 

321 

316 

648 

343 

213 

28S 

23080 

22780 

174 

16580 

81 

36080 

29680 

17180 

185 

10080 

248 

205 


Oslo 


AfcerA 


OBXfedwc 67671 
Preftaac 67X46 


Seoul 


122 117 121 117 „„„ 


Quapotfte Index: S1M7 
Pravtaas 517-49 

595® 560® 563® 580® 


Sydney 


01 Ordtaaries: 2S94M 
Previous: 251X90 

Aiacor 

658 

656 

651 

671 

ANZBUng 

10 

955 

10 

973 

BMP 

1438 

1455 

1430 

1445 

Bond 

379 

X67 

379 

379 

Brambles bid 

27® 

2650 

2775 

1754 

CBA 

1771 

1656 

1770 

7757 

CCAmatd 

11 

1050 

11 

1156 

Coles Myer 

771 

7J» 

7.17 

770 

ComakD 

550 

550 

555 

5® 

CSR 

439 

460 

470 

4JQ 

Fosters Brew 

276 

254 

272 

273 

Goodman Fkf 

119 

113 

117 

270 

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1055 

tan 

nun 

1X90 

Lend Lease 

2759 

2735 

27.95 

27.95 

MIMHdm 

Nat Aos! Hank 

178 

173 

177 

178 

2050 

2037 

2050 

2078 

NatMuhnrt Hdg 

230 

271 

X30 

132 

News Crop 

778 

7.16 

775 

7.14 




icjrEJfHjrEjrEjfrJrEif^jfcjr 


A WEEKEND CONFERENCE 
DOES HAVE ITS REWARDS. 


A!! (Amr.nl InKrn.uioiul holds offer .m ck-”,uu:o and style that is second to 
none. Noi to mention conference facilities that arc in a das-, of their own. 

Bur now they offer more. The Hilton HHonmv v Worldwide 
Meerinii Planner Bonus Program. 

Anv meeting planner who hooks a <"] u;> lify in er meeting at a part ici pa iin it 
(ionrad Iniernational hotel with at least ten occupied puest rooms can earn 
thousands of H Humors bonus points that can then be exchanged for free nights 
at H Honors hotels. Or earn airline miles with participating airline partners. 

The rewards are your-.. So make the most of them. 

l-i>r nroup Inwkhu jf " ;;d information, pleasr cr.U tbr (jr.irnd Iutcruntiona: 
fr. if s' nji'/iT ;s Ij'.r.duti r.t -T-f 17 1 d “o ■($ 4K or;;; Bn lwLs at +T2 2 542 4$ <s’5 

CONRAD 
I INTERNATIONAL 


feJ rai :hJ r^. : r=J.'Hi-’5J R-' ral rs. : fHJ r=jraJ|H-re 


JareJRJrElraifgjmjfgiiEifgJareJRifEJSRJiaifcJia i d m •■ci r 


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SISSa 

Nycmed A 
OikhAso A 
Peflm GeoSve 

BSW" 


216 

2680 


106 

4180 


711 

25.90 

29® 

103 

4180 

345 

372 

217 

186 

593 


37880 
226 
186 

415 ... _ 

521 516 51880 518 

13680 13180 13380 13W0 

126 124 125 124 


211 212 
2610 26 

30.10 20.90 
103 IK 
4180 41 

347 350 

377 375 

223 21880 
186 116 
625 596 


Daewoo Heavy 
J^undiriEng. 

Korea El Pwr 
Korea End) Bk 
LGSemkxn 
Poheng boast 

Samsung DUay 
Samsung Elec 
Shlnhanflank 
SK Telecan 


6000 5640 
ISO® 14400 
7350 7350 

M4ffl 13800 
4630 4360 
220® 20500 
459® 440® 
369® 348® 
460® 447® 
7390 71® 
3550® 3300® 


5660 5760 
145® 14690 
7350 7350 

142® 14088 
4420 4350 
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44800 440® 
357® 35*00 
447® 45000 
71® 7110 
3360® 3480® 


PacMc Dunlop 
PfonMf tail 
Pad Bmudasl 
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110 3M 309 389 

383 174 182 184 

880 UO 880 US 
17 16J0 1685 17.® 
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58J *8) 5^1 580 

174 088 868 874 

1185 1183 1180 HAS 
486 447 486 48* 


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AGP 

Air Uoakte 

AkrtdAba 

Aw-UAP 

Bwcute 

BIC 

BNP 

Canal Plus 
Centaur 


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□KteOroiDtor 
CLF-Derfo Fran 
Crate Agitata 

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Ht-AqwW» 

EiWantaBS 

EurorfKney 

EantiauM 

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GtolBuc 

Ham 

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L< . 

LVMH 
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N.T. 

N.T. 

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415 

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1031 

1012 

1024 

1013 

29X40 

29550 

297 29850 

895 

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678 

680 

608 

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38670 

38670 39753 

249® 

246 

249 

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990 

1002 

998 

2999 

2945 

2960 

2974 

314 

31X10 

314 

H 

33140 

326.10 

327® 

614 

601 

601 

615 

6® 

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586 

595 

603 

582 

598 

581 

12® 

12® 

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1252 

924 

904 

919 

904 

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689 

698 

698 

874 

851 

856 

B62 

770 

735 

7® 

750 

5.BD 

555 

570 

175 

mro 

30670 

210® 209 ia) 

725 

7® 

724 

705 

375.10 

37050 

372 37170 

644 

631 

635 

639 

3*770 

337 

339.90 

345 

106? 

1043 

1045 

1054 

21® 

2045 

2092 

2070 

937 

916 

922 

921 

30140 

297 

29X90 

295 

415 

405 

406 

a 

29350 

28X70 

292.NI 

645 

636 

641 

636 

2771 

2718 

2746 

2742 


Singapore 

Aria Poc Brow 
Cerates Poe 
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BSL 

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KeppalFeto 

PorfcwoyHdgs 


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SbigPmsF 
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UtaOSeaBkF 
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Strata Tiroes: 169089 
PrrrtoUK 14*179 


472 

468 

472 

470 

456 

460 

466 

4m 

7® 

7JJ5 

745 

7® 

7JS 

690 

7 

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OJS 

081 

005 

085 

1460 

1430 

149 

1460 

187 

177 

101 

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875 

0 

843 

8X5 

110 

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108 

2JM 

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5® 

US 

580 

195 

185 

185 

195 

550 

ilO 

535 

550 

1® 

270 

177 

178 

462 

4*0 

462 

462 

333 

130 

333 

139 

9.10 

X8S 

905 

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555 

5® 

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£65 

A10 

4 

410 

4 

110 

498 

5.10 

585 

11-30 

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436 

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1.95 

1.97 

101 

271 

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251 

264 

261 

157 

0.74 

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an 

074 

9® 

9J5 

9.10 

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110 


Taipei 

Stack MOM fates 755494 
PreweuK 7711H 

roHioy Lite Iim 

136 

T32 

131® 135® 

Chang HwBk 
CkiPOlunaBk 

95® 

68 

93 

AAOl 

91® 

66® 

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Chva Deveipai 

91 

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89® 

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QawSfod 

2120 

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2350 

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96® 

94 

94 

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50® 

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51® 

Hua Nan Bk 

101® 

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100® 

107 

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Nan Vo Plastla 

51® 

50® 

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57 

Shin Kang Lite 

89 

M 

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Taiwan 5«il 

122 

118 

121 

125 


31® 

31.20 

31® 

31.90 

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64 

67 

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Utdl/MdChin 

56® 

55® 

56 

57 


Tokyo 


N*M 225; 1542777 
Pmfeos: 150417 


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AGAB 


SX 16 indase: J0478T 
previ ou s.' 312*58 
96 93 *580 94® 


Air 

Amtwy 

AsotuBar* 

AsanCbaa 

BkTak yoMbH i 
Bk Vokononn 
Bridgntone 

SSdK 

Dote 

Doi-lcMKaig 
DoMHBonk 
Dniwa House 


1110 10® 

569 555 

2520 24» 

09 490 


531 

762 


486 

732 


KW is® 

394 382 

290 2490 
2970 2900 

2060 2020 
1910 1890 
2260 21® 
531 520 


950 

345 


897 

317 


10® 1020 


10® 10® 

555 576 

* 9 

§1 % 
15® 1540 
391 3® 

20® 2020 
19® 1920 

9 * 

a s 

ID® 1040 


The Trib Index 

Projsasof J-ODP.M lUo» Vcv* wne 

Jan 1. 1982- ICO. 

Laval 

Change 

% change 

year lo data 


change 

World Index 

160.83 

+0.12 

+0.07 

+7.84 

Regional indexes 

AsisJPaoflc 

9&49 

+0.64 

+0.70 

-25.07 

Europe 

181.53 

-0.36 

-0.20 

+12.61 

N. America 

200.77 

+0.04 

+0.02 

+24.00 

S. America 
Industrial Irtdaxo* 

125.43 

+1.10 

+0.88 

+9.61 

Capital goods 

203.66 

-0.51 

-0.25 

♦19.16 

Consumer goods 

190.25 

-a 50 

-0.26 

+17.85 

Energy 

191.18 

+0.55 

+0.29 

+11.99 

Finance 

11114 

+0.01 

+0.01 

-3.71 

Miscellaneous 

152-30 

+031 

+0.20 

-5^6 

Raw Materials 

. 165.23 

-a 57 

-0.34 

-5.79 

Service 

158.7S 

+121 

+0.77 

+15.61 

Utilities 

153.19 

+225 

+1.49 

+6.78 

The btBinatfonalHst8kJTri)vrw World Slock Index G tracks the US dollar values ct 
280 internationally invastabto stocks Hon 25 counries. For more information a baa 
booklet is ovartop by mtlng to The Trt) Index. 1B1 Avanue CJwrles de GauZe. 

82521 NevtiyCMox. France. 


Compiled by Bloomberg News \ 

High 

Lew Qasa 

Prev. 

High Low 

aw Prev 


581 

3280a 

21® 

S6Ma 

1610 

4570 

821 

4218 

1270 

1070 

880 

4820 

9® 

260 

391 

5510 

3® 

9400a 

2210 

471 

2870 

1640 

2® 

206 

678 

950 

IN 

670 

412 

61® 

1930 

296 

337 

IB® 

3060 

1898 

10 ® 

912 

253 

340 

nra 

505 

400 

10W 

875 

1050 

292 

44f» 

12 ® 

1410 

STB 

107® 

626 


»5 620 

3790a 3380a 
2220 22 SO 
SHOD 5660D 
1690 1620 
4620 47® 
868 855 

4410 4320 

13® 13® 
HOT 1110 
899 891 

4110 4)50 

1020 1020 
365 262 

<S5B 408 
55® 5710 

396 4® 

9700a 9510a 
22 ® 22 ® 
481 483 

2110 7110 
1660 1690 

253 2® 


212 

687 

955 

131 

670 

414 


205 

678 
951 
133 

679 
4® 


61® 6610 
1940 19® 


*2 

341 


306 

347 


19® 19® 
3260 31® 

1920 1920 

HMD 1070 


922 

262 

367 


935 

2® 

355 


1240 1290 

see 526 

410 397 

1190 1110 
894 B9S 
11® 1230 

320 322 

4540 4500 

1250 SB® 
14® 1450 



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TO? 
TatakuEIPwr 
Taka! Bank 
Tokio Marino 

Tokyo El Pw 

Tokyo Electron 
Tokyo Gib 
TekyuCorp. 
Tanen 

Teppan Print 
Torwlnd 


Teetera 
Tom Trait 
Tourta Motor 
Yteamdri 
trxmtr.xlM) 


mm 

551 

563 

566 

I'rl 

264 

278 

274 

16K 

15® 

1580 

1550 

118® 

118® 

1S85S8 

121® 

■LJ 

412 

442 

421 


37® 

38® 

3810 

10® 

10® 

1050 

10® 

3® 

335 

347 

345 

73® 

7190 

7220 

73® 

5360 

51» 

5360 

51® 

925 

906 

907 

943 

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991 

1008 

10® 

8390 

8000 

irvn 

S4X 

849 

815 

831 

865 

1910 

lira 

1890 

19® 

479 

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469 

487 

2810 

2720 

2760 

2820 

1670 

1630 

16® 

1640 

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nos 

18® 

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mo 

28® 

30® 

97® 

94® 

9670 

98® 

826 

782 

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781 

1220 

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4® 

426 

448 

433 

1630 

1590 

1610 

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257 

20 

256 

246 

725 

676 

701 

707 

3020 

2873 

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mo 

34® 

32® 

34® 

34® 

9470 

9240 

9340 

99® 

19® 

1870 

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557 

599 

577 

11® 

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1090 

1090 

2920 

2280 

2310 

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5590 

56® 

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289 

281 

289 

286 

526 

507 

521 

510 

885 

820 

885 

847 

IS® 

14® 

15® 

1540 

571 

550 

562 

571 

518 

504 

517 

519 

1440 

1390 

1430 

1410 

7® 

707 

725 

7J0 

33® 

3290 

3340 

3310 

29® 

29® 

29® 

29® 


Toronto 


AMU Can. 
Alberto Energy 
Alena Alum 
Andenon Expl 
Bk Monteal 
Bk Novo Scotia 
Bartek Gold 
BCE 

BCTelecomgi 
ftecteta Phumt 
BarobanhrB 

Contra 

CISC 

CdaNaARal 

CdnNatRes 


TSE Itahnlrialu 6681.1 B 
PlttriMS.'6UL16 

W; 1145 1&60 
» 31 31 

40.10 38.90 

*2 IH2 H# 1 

64 6240 ai, M|i 
«» 61 SS 6U5 

26-10 25J3 26 24® 

fl-IS 40® 4045 
2 31*5 37 37 

3455 34 3485 33 

2MJ 2600 J« 26® 

53.10 52JS5 52m 

£20 «•« « 

7140 69 70 

36 35J0 3540 


18.® 

Jl'A 

40.10 


4214 

71 

35W 


CdnOcddPet 

QtaPadflc 

Canto 

Dutasco 

Dmlar 

Donobuo A 

Du PwrtCdoA 

EdperBiusau 

EiiraNav Mng 

FOIrftaFW 

FakDnMdge 

FlefcterChaaA 

Franco Nevada 

GuUCda Res 
Imperial 08 
Into 

1PL Energy 
LaidlawB 
Lnawm Group 
Moca® Bid 
Magna InHA 
Mefiraws 
Moore 

Newbridge Net 
Noranda Inc 
Norm Enarar 
Nthem Tdeaini 
Nmn 
Onex 

Proicdn Petal 
PetroCda 

Placer Dome 
Pocd Peltm 
Potash Sask 
Renabstmce 

RtoMgom 

Rogers Canid B 

Seagram Cb 

SheflCdaA 

Suncor 

TaBsmanEny 

TeckB 

Tdetaate 

Tetos 

Thomson 

TorDom Bank 

Transalta 

TnmsCda Pipe 

Trimark Rrt 

TrlzKHdm 

TVXGaM 

WestaxHtEny 

Weston 


3585 34® 
41 JB 40® 
261* 25*: 
2330 22® 
10J0 10.15 
26® 25i/S 

33*. 33 

2110 24L. 

21 iaii 
345 340 

10.65 18 

2035 m® 
30t- 29.JO 
1185 1085 
90 88® 

26.10 2l«l 
5110 51® 

19 IB® 
3735 3120 
17W 17.10 
87® 86 

13U 1385 
21.® 2155 
6220 59'i 

2145 22.® 
3145 31.15 
126'u 119M 
1170 1345 
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23^ 2T. 

36.70 37.90 
19.15 11® 

13.10 1240 

11940 117 

32.10 3045 
26® 2110 

19.10 1SJ0 

47J0 46 

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2240 22 

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5145 5085 
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104 101 


31*5 34 1. 

40.95 40*4 

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2580 2445 
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24't! 2430 
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340 343 

1865 17.95 
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29.70 29® 

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1735 17 30 
87 87 

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21.90 21.55 
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19.70 19 

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3115 a-. 

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Boettar-Uddeti 
cretennsjPfd 
EA -Genera* 
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FtoBhotenVWen 

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Dost EleWrtr 
V A Stahl 
VATech 
Wlenerteig Bou 


ATX tates 123232 
PMvtoosi 122X99 

817.90 S07 814 ®1.W 

*4030 628 634 648 

a® 2710 J7M 2752 
151X95 14701499® 14*5 

5S2 492 49730 492 

I6M1665.SQ 16® 1679 

973 959 96050 966 

47*70 4SS 456 470 

1938 1B84 1909 19® 

2353 2316 2350 23® 


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AlrNZeddB 

BrieriyliM 
Carter Holt rod 
FtoMiOiBldg 
FfeWidiEw 
ObWiOi Frost 
FWdiQi Paper 
UonNatton 
Telecan NZ 
WtamHaton 


HBE-* facta* 2347J3 
Prevtaus: 241*22 


3 JO 

125 

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138 

1.19 

1.17 

1.17 

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168 

2.70 

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4.95 

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189 

189 

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BakriseHdgR 

BJCVhlon 

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NovoribR 
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PmgesnMdS 

PnronVbn B 

RkteraroriA 

PteiPC 

RodwHdgPC 

SBCR 

Sdundtar PC 

SGSB 

5MHB 

SuberR 

Swiss RekisR 

SAirGroupR 

UBSB 

Winterthur R 

Zurich Assur R 



SPItadar 3421.50 


Prevtaus: 3*4X50 

1705 

1681 

1693 

1677 

419.40 

398 

403 

416 

1254 

I2J3 

1251 

12j8 

2385 

22® 

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377 

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pa<;e ig 


INTERNATIONAL HERALD TRIBUNE. FRIDAY, NOVEMBER 14, 1997 


R 


NYSE 


Thursday's 4 P.M. Close 

The WOO most tafed studs of the dor. 
Nafiowide prices not nflediag late bodes ebewtiere. 


17 Month 
Ugh Low Slock 


Dw VH PE lOOiHqb LawUded Oi*> 


3M,34V AAR 


A-M 


wiiiiw ABH Ana i* iv 34 sS m. ml . *J3 

31 il H '361 JHk W** pfe’* 

'8 SOB 8-4 _ 443 10*. 1«. 10k 


A3 7.9 
90 9.1 


lSu 8<% AoSCc 

» i i£Wb J.8 

K.SSSMS ass 

Wb 14 ACM ids 


- mo 8 mi rv. 

. in 9* 

- 446 4W 6ft 6ft - 
_ 744 131* 171* 13 

- I? ,M 10 !«*> ♦ - 

« .as JS? S:S 

gsssjss? : iJSS. SUJSl.^ 

SL* 2?* iHflC i 6 ,j0 1‘ *w 47H <S , ft46%» ■' 

2ft" M AGCO Da J 10X46Z7 26ft 25VU 2SVM 
Jfb {IS ACL R« IJ? 6.0 13 77S 18%, TSv*, lift *ft 

W, 12b AJL 1 4411 A _ 12SO I JO'* 171* 124, 

4Wta34* AKSM lOOf 2J 8 878 40Vk 40 m 

731* 30 AMFn _ _ 7201 22 21to 71 Vs 

.Sfi* ^ AMU Rs 1.7af il 17 *§B 22* fST ^ + *; 

— -3ft 


133*7 7BU AMR 


19*1 9b APT Sot B 

rsm 


- 17 40321 lBVa 114, 115 
I " 4S Ul'»* 141) 14h 

ffifi 3 ! SSgSS SS\* 

WW AVXCp ! S ^ T&&. SX 

S £ rev AXA UAP65C _ _ 28S 34% 34D £2 t* 

Wk Aomeaa A3 II 3831 TW» 12* IT* -5, 

«*•** ANLdb 1JB 1.7 2416034 m 62*. 63ftt*» 

01'* 12*4 AbtSSdl _ 49 2710*231, Ml* 31th *1* 

?L !3i®**aMg .40 _ _ 2WJ 13J9U13 lift -ft 

!Z3* Acpflm. _ TO 168 fiy. 234, SH -V. 

_ 39 3747 fin, 27Hj 27* 

- . n 6Vt W M .. 
- a .IS 1B * «* ] 2*» -*» 

_ - 42 T8V9 IPV6 171* 18 -Vi 

1 J3e 7.1 „ S84 241, 231* 24V* *ft 


32 151* 

1<M, 6b 

21*1 ITVi AobbMI 
J9** 17 Acuson 
S'k 19** Ado Ei 


2£2 3 S 545 S™ use 1A -~. 7X '*"* ■«** i6%, -ft 

4|V> 19*t AMD _ -36414 21* dl8ft Z * 17. 

27b 9t* Adteri .12 £ 14 87 Hta 22*6 

23*% 11 «ttw>lnc _ 21 1256 23V. 22* 22* -1* 

1?JVb fcl* AdVDOtt _ U 177 91* 9V, «* -ft 

871% S3** Aran lJOe TJ9 39 S45 ®l 80k 801* *-2Vh 

1» 3J* A"??"* -. 24 1Z8 9 81k 8V. tft 

SPfi Hb Aerom m M 16 xm 521% siu siu. -iv* 

1181% 671% Aetna Inc JO IjO 24 5T» 77*» 761%. 76*V» -V. 

104 71 AetaO^A76 U , »H 7K* 751* <-%» 

M 191% AflCmpSl _ 22 BOS 24V* 24 V* 241% -V. 

fgr 'J5 *9^3 „ - 22 » 18#to 18V. WVH -1% 

1SI* SJk Afl»cng .10® 19 „ 14S3 5M dSW 51fr -h* 

??5J 155 Aflfda III 8.9 13 119 20VV 20 W. 2014 -1% 

IS? -11 IjO - 107 ion in% iov% -vt* 

42%.3W% Anraam -88 |J 16 4731 
128 651k AJranpfD 100 2J _ 115 


194% 


U 16 4731 594% 58 v» <m _ 

;ni4i izm i2T7%+n% 

25V, 244* 251% ,9* 


1J 24 


^v% 65*. AkPrad T 38 14 19 4283 77 - 75 7S -in 

21PV. 20A-.+*, 
! 439* SVt* 61Vi -141* 


tm 20 
W*» 13V. 
17%) 9>% 


JO J 


180a 1X8 


411* 2J AtToodi 

AkTd. pffl 1 J4 5J 


371% 254. 

63 «55 AirTdi PIC 2.13 34 „ 

35*% 301* /UskAir _ 10 

27?* AKnytn 42 18 14 
27%. IS* Abanar J6 14 17 
3ZV» 234% Alberto * JO 1 23 
27V* 191* AbCutAs JO 8 21 
394^301% ABMfhn 44 17 M 
40*»27*. Aknn 
28b 15b AkxM 


13A%>124% ABAnTar l 


g 2722 _ 

« 1839 15V. 159. 159. -Vk 
B _ 116 13V. 13 13 -Ym 

6122898 37% 3714 37V. 4 9b 
- 663 341* 331* 33H 
110 591% a* 59 
660 34U 33V* 331% 

«9 23V . 234% 23V. ,H 

737 75V, 251* 251* . .. 

3831 S>9h 371* 389. 4-1% 
40 11 16 41 S3 2 Bt*> 279. 78V, 4 14 
J4B 14 _ 3937 2P» 239. 23% ,4% 


-V. 


7-6 _ 


"■"WSL*® 11 



16* m l»ta 1B% *v. 

, „ . 824 28*% 289. 28b +¥. 

44 15 14 5480 26b 25V, 269. -Vk 
40 1J 15 2195 31 Vk 30V* 30b -V, 
_ 20 1249 219, 20b 7(PV.4-b 
42 14 20 *517 33V. m 33b 4-9% 
ZJ9% 79 „ 114 » tow*. 28b. 4- 
2576 74 & 1083 3«k 34b 34b 


143 


513 151* 15*k 15b f Vk 

- - M 


15 lib Alwms 142B 108 _ 2411 ISM 13 13b -L. 

69 40b ABTdi _ 18 136 57b 56b 56b. -V. 

55b 38 AMIristl 1459 34 14 266 Sib. 51 51<b >19. 

27 I5J% ABodPds .16 4 l| 654 2511 24Wk 2Si +b 

47b 31b AUSods St 18 lSfJSXB 35b 34b 35b ♦ I* 
49b 2W% ABmffn JO 4 16 169 48V. 479k 47*k -Vb 

10b 10 ABBII5T 84a 79 „ 86 TOVk 10b lOv, _ 

86 54b Atetirt* .96 1J 13 8920 Bib S0«k 81 W +*k 

53b 41 ' 

WV.14V* 

im 

23b lib Alptoma .18 8 - 966 22b 21M* 22b +«k 

7*k 3 Alphrmrt _ _ 155 51V 51* 51* 4-M 

17b 6b AUncGr _ 19 535 16b ITVk 1%M -b 

45H 30b AS5m „ 14 3173 339k Sb 33b 4-19. 

BPb Site Alcoa 1.00 14 161B558 68V* 6AW 68Vk +2 

32b 241* AttB SO 261 D 76b 25V* 25V. -V. 

7b 4*bAianG _ _ U60 48k 4V» 4Vk -V. 

47*k31 ArabocFs J6 9 1^ 2311 41H 40<¥k 40>Vk -Vk 

26 191* AmtHMpf 140 79 _ 316 20b 20b 20b 4-Vk 

64b 47b AmHes 40-18 29 3105 60b SB 589k -lb 

26»k24 Aimatpt 2.13 8J 140 25V* 2S*k 25b _ 

91b 24b AaiOrttw „ 46909 71 64 ASb -2V. 

16ft 12 AmWesI _ 11 1087 14b 14V, 149k *Y» 

40 23M Afianknt M 1J, 15 768 379k 36b 37b 


"ram -*o u 14 ohu sin am him +v* 

Akl98 2J0 44 _ 100 529k 52b 529k -«k 

WKt otA lS 73 _ 316 $Sft 3SM 25b *■%» 

Anwr l.ut II 1710373*9^9. 3%<Vk 37 ,Vk 


6b 3k 
25b 19V. 
474*39M 
869.49 


_ 18 529 5b 5 
42 12 14 186 19b 199k 1' _ _ 
240 5.1 15 34B4 47%k 47b 47b -Vk 
.90 1 J 2014733 78b '75*. 77b 


49U 37b A^Sp 180 2I iffe 3SW 36V, ^Vk 


56 Vk 36b 

36V.24<bAGC 
29ft I9u 
5*k 5 AmGvl 

26b 21k SSfpr 


140 ^8 30 2882 49b 489. 49b ,9k 


111 


r^r 64 16 

42a 64 I 
2.10 85 14 


m 269k ^k 26V. -Vk 


730 2M iS b 25b +Vk 
604 5b S9k 5V* +Vk 

..^ sn&a&at 

84b 57 AHama 1J2f 24 2318452 74 72b -19k 


161* 9b AM 


lifjbTfe' 38 3 MnwJjjM j7* 98 -Vk 

23Vkl9U AlhdPasn _ _ 89$ Z]b 20b 21 
9VB 4b AMeda 
13b 12 AMuibic 
6b 5b AOIF 42 6J 
36b Hb APadP _ 

26 14b APrec - 

52b 34b AmRmSo _ 

26*k2SVk AnlbCpf2.13 8J 
UU 8ft AREst 


-s%TZV-t .. 

5 ~ s'a 


IjU 14b ARraET 1 


„ . 12 ARaldSvc _ 

31ft 14U ARrtre B 
ll*kl0b A5otPort 182a 84 
18b 159. ASMtngit „ 

51b 34b AmStd 
20 19b AmSiors 

12 10ft Am51P2 
II*. I Ob AmSIPS 
2b ib Ami* 

349k 18ft AmWlr 
8*. 7M AmxlncD 
349k Mb Amerad _ .. 
27b 20b An»ffgas2J0 89 28 
19k v. AmwigTc _ - 
65b 37b AnaiSic _ 33 
71b 54b AnwrikJi 2J6 3J 17 
24b 21b AlMlekB M 18 16 
99 75 Amoco 280 3.1 16 
56V. 331% AMP 184 28 .. 
2Bb lib Ampco J4a U 11 
5AV> 201* Ampfml _ 28 
51ft 31 AiiSaatti si J0O4 19 1 
259kl7b AmwstF 
49b 22 AmwyAs 



21b 10 AmmayJ 41e 3.9 16 .- 

76b 5»3* Anadri JO A G 2659 72b 

36 V. 205* Analog s _ 2811356 »b J. 

- «- .JST9- , M 18 7S48 47*. 41*. 

_ 20 903 1^, 17b 


„ +ft 
iob -t-v. 
»ft -ib 
28b +9k 

48b 38b Anheu 1.04 28 T8 ’7548 42*. 4T*k 42Vk _ 
19V.12 Anbdsr _ 20 903 1W, 17b 17*k->b 

25b 13b AmTayl _ 26 324 13ft 13b 13V, _ 

13ft 10b Aunrty a _ _ 1772 lOCd** 10*. +VW 

SBTkXJ* AonCps 184 28 46 2911 529k 51M S2 +b 

4SV.38b Apoctw 21 7 21 5452 39b 37Vk 38ft,-lVk 

38 22b Apftnv 185 58 32 1264 34*. 321* 33*. -Vk 

101k 9ft Apex 46 66 _ *101 10 9*k 10 +Vk 

34*,14 ApWMU48l 14 25 1<B 28V. 27b Z7b -IV. 

«W 16 AppIMg _ 414480 17b 16ft 17b*,lbj 

<*>4 3Sb ApfaPw .12 J 21*J»4 62V* 61b 61*k -Vk 

22ft 12b Apria _ _ 1489 15*. 15H 15*k -9k 

59b 32b Aplar 32 4 20 W 51 509, 50b -ft 

229.14 Aimus .171 12 _ 1Z29 149. 14 14b +ft 

lift* 6b ArtwrPT .70 64 31 316 !«« 9*. 10b -Vk 

19b 6b AicadtaFn _ _ 3769 atk 7Vk B -*■ 
24b 16b AiOlPaa JOB .9 33 8911 21*, 21b m* >fti 

Sb 23 Anfanni 1.60 SJ H 519 30*. 309k 309k -V, 

32. 1»» Arantarl86e 17 _ 124 299k 2Bb 281% +b 

16b lWkAignilFd J3e 2J _ S92 lift lib liu +Vk 

7b 2b Amaxy _ _ 50s 4ft 3ft a -V. 

61* 3b Aimca _ 12 1022 5ft 5b 54W+V. 

75b 61b AjmW 1 J6 2.7 12 JJS «*k 65 65V. H% 

321.249, Arrows 5 _ 18 1331 Sft. 27b 279k +b 

6V1 3V» Arfra _ 42 170 3b d 3b 3b +4. 

41b 21 AlVb JOT 23 15 616 37b 35b 36b -9k 

3414 24b A5BICO SO 12 7 3378 25b* 24b 24*. +ft 

16U 9 , Ashanti J7e A1 _ 1021 9U Wk 9Vk -Vk 

55 39U AsMoidi 1.10 24 16 2318 45*k 44b 4Sb -b 
13b n* AstaPe .94*11 J _ 1734 bv. 7ft BV» >ft 

5b 2b Alla PR _ _ 132 31* 2K 314 _ 

17b 914 AsloPto asp _ 1223546 119k lift lift -*k 
11*. 61* AjtaTk. .04# J _T0S 79k 7Vk 7ft 6ft 

4ft 3b Asailm JM 7.1 7 3504 3*k 3b ■ 3*k -y» 

34b 21 AsdEHat 1 86 BJ 19 747 22b 221* 22b -V. 

S9V.4114 AscFCdp 40 J 21 1091 619k ftOft 60b -1ft 

20>v» 3b AstmAl .19e 1.1 - im ; 3 169k 169k 169% ,9% 

19b 13*aAsiraBf .19k 1 J - 288 15*, 159k 15*k +H 

19b 16 ABtni^ . 184 88 12 851 1 Wk l9V. 19U - 


Kb 24b ABCap'^ W M » .541 Ubn W% 25b 


87U 62ft AML 

50ft 19b ABasAIr 
27*.22 ATMOS 18*7 4J 
123-4 50b AfMOOc 


41b 2L -AWW IJg il _ 


lib 8b Aus*r 
17b 10U AuBiFK 
45V] 33b AutaBvD 


85 3 : 


31b 25b A«otonPrl86f 54 26 
7b v, A vale, 

44ft 33b A< 

179. BCf A- 

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864 1141ft. 107 112 -2, 

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15b 11k BumPP 1JJ0 7J 26 650 14b* 139k 13*k -ft 

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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER U, 1997 




R4CE 17 
















































































































































































ASIA/PACIFIC 




<- 








Despite Its Basic Strength, HongKong 9 s Mood Turns Sour 




JVm- Yurt rimu Smiaf 


HONG KONG — i n Richard Chen’s jew- 

rh' e H° nly gUtt "' is “”«> ihe pearl 
nwldaces the diamond pendants and the gold 

.. Zenmg m00d sh °P * 

"I'm very pessimistic.” sajd Mr. Chen, 
whose usually cheery disposition is clouded 
by deep uncenamties about Hong Kong’s 
economy. A lot of us feel this wav ” 

. * n ^ Sl ™°, weelcs ' H °"g Kong has been 

V sl ? ck market plummeting, then 
surfacing for air, then sinking again. 

• v Spe ^ u !f or ! have j° u sied with the Hong 
Kong doliar. Interest rates are soarin**. Tour- 
ists are scarcer than doubloons. And one of the 

’ te T, t0 ^ s ° an ^ s has endured a mini-run. 

Now people wonder what has happened to 

Hong Kong, a place where the only direction 

people knew was up, from the stock market to 

apartment prices, from new restaurants to a 
new future under Chinese rule. Just when 
everything seemed to be going right, 
, everything seems to be souring. 

People are depressed and nervous,” said 
. Blanche Cheung, who works in a travel 
agency in Wanchai, a district of crooked lanes, 
- pocket-sized apartments and barbecue-duck 


restaurants with linoleum tables. “If they had 
money m the stock market, now they feel 
poor.” 

From the heights of August, the Hong Kong 
stock market has seen 40 percent of its value 
vanish in an orgy of panic selling, rumors and 
worries about the territory's future. 

It doesn’t matter that the territory’s chief 
executive, Tung Chee-hwa, its business ty- 
coons and just afrout every economist in town 
have been beating the drum for Hong Kong’s 
basically sound economy; no amount of 
cbeerleading seems to help. 

In the past several days, rumors emerged 
about the viability of one of Hoag Kong’s 
smaller banks. International Bank of Asia. 
Even though the bank, which is owned by 
Arab Banking Coro, and a mainland Chinese 
company, was on firm financial footing, thou- 
sands of customers lined up outside the bank's 
28 branches Tuesday and, when it was all 
over, $200 million had been withdrawn. 

Although the causes of Hong Kong’s mar- 
ket distress are well known — regional cur- 
rency and economic crises and the costs of 
failed efforts by speculators to sever the Hong 
Kong dollar's link to the American dollar — 
residents of Hong Kong have reacted in stam- 
pede fashion to any hint of news or rumor. The 
bank run was just one example. 


“I think the situation is understandable,” 
said John Leung Jin-pang, a professor of 
psychology and president of the Hong Kong 
Psychology Association. After Hons Kong's 
transition mom British to Chinese rule on July 
1, he said, "I think people saw that thing's 
were operating as they used to be. People’s 
minds were settled. The stock market was 
doing quite well. 

“But then there was a monetary crisis in 
Southeast Asia. Once that happened, people s 
confidence was shaken in terms of whether 
Hong Kong could stand up to this kind of crisis 
since the Chinese government took over. 

“I must say that people's confidence has 
been shaken because of these events, and 
especially when you talk about rumors, the 
safest thing is to ny and get your money and 
decide what to do later. Hong Kong is such a 
small place. Everything travels very fast." 

Analysis are at a loss to explain why Hong 
Kong residents have been fleeing the stock 
market or sprinting to withdraw money. As 
security officers struggled to push anxious 
customers away from International Bank of 
Asia's main branch. Shannon Garrett, a senior 
analyst at Socgeo-Crosby Securities, emerged 
from the bank shaking her head. * ‘The bank is 
fine.” she said. “There just aren't any prob- 
lems here.” 


Later, she reflecied on the skittishness 
around town. “Consumers are worried about 
ihe value of property.” she said. "But the 
banks in Hong Kong are very well capitalized, 
very well supervised, very’ liquid. Banks in 
Hong Kong are perhaps the best-capitalized 
banks in the world.” 

Still, business seems to be sagging every- 
where. Mr. Chen, the jew eler, said safes at his 
shop in the upscale Mandarin Hotel w ere off 
by 50 percent. 

“Before, we always knew that if people 
from Thailand didn't come, people from 
Taiwan would buy,” he said, “and if the 
Taiwanese didn’t come, the Japanese would; 
and if the Japanese didn’t, the Indonesians 
would. But now. we have no spenders here. 
And 60 percent of our business is locals, and 
the locals aren't spending either.” 

Paul Chang, who owns textile factories in 
China and a new Japanese restaurant here, said 
he thought the territory’s economy was sound 
but that his businesses were beginning to 
groan under the weight of high interest rates. 

“If we have to borrow money.” he said, 
"the banks keep pushing the rates up. How are 
we going to keep going?” 

Banks are charging businesses about 16 
percent for one-month loans, and mortgage 
rates are creeping above 12 percent. 


Investor’s Asia 


Hong Kong 
Hang Seng 

Singapore 

Straits Times 

Tokyo 

Nikkei 225 


2150 

21530 


^' u V Vv m. 

soooo^Vv 

135M* M 

i 1550 Al\ 

16500 

1250 

1700 U 

17000 \ 

10500 

k 1550 f 

15500 ’ 

JASON 14<30 JJASON 
1997 1997 

Wfflj JASON 

1997 

Exchange 

index Thursday Pmv. % 

Close Close Change 


Hong Kong Hang Seng 9.720.78 9.607.91 +1.1 7 


Singapore Straits Times 1,69ft69 1.685.79 +0.29 


Sydney 

AD Ordinaries 

2^04.00 

2,51050 

-0-27 

Tokyo 

Nikkei 225 

15.427.27 

15.434.17 

-0.04 

Kuala Lumpur Composite 

677.58 

684.49 

-1.01 

Bangkok 

SET 

453.81 

469.37 

-3.32 

Seoul 

Composite Index 

519.47 

517.49 

+0.38 

Taipei 

Stock Market index 7,554.94 

7.712.16 

-2.04 

Manila 

PSE 

1,803.55 

1.841.81 

-2.08 

Jakarta 

Composite Index 

437.95 

449.64 

-2.60 

Wellington 

NZSE-40 

2,367.72 

2,41622 

-2.01 

Bombay 

Sensitive Index 

3,554.10 

3,723. <0 

-4.55 

Source. Tefe/iurs 


Ini.i,u<fn4' lk-i J-l Tnhtnv 


Honda Wins 
The Keys to 
China Plant 


By Seth Faison 

Nrn- York Times Srrvice 

SHANGHAI — Beating out a bid by 
General Motors Corp., Honda Motor 
Co. announced Thursday that it had won 
the right to make passenger cars at a 
plant in southern China. 

Honda executives said the venture, 
their first auto-assembly operation in 
China's perplexing car market, would 
involve a $200 million investment with 
two local partners to produce a model 
resembling the Honda Accord. Honda 
will take a 50 percent stake. 

Honda is essentially betting that it can 
succeed where PSA Peugeot Citroen S A 
of France failed. Honda plans to use the 
same plant in Guangzhou that Peugeot 
pulled out of early this year. Peugeot 
was reportedly frustrated by low output, 
mounting debt and squabbles with the 
local partner. 

Honda executives, like their coun- 
terparts at other automakers, expressed 
faith that the long-term potential in 
China’s passenger-car market was 
worth the considerable near-term dif- 
ficulties. such as bureaucratic interfer- 
ence, inadequate supplies and a hard-to- 
crack distribution network. 

* ‘We believe the Chinese market has 
the potential for further expansion in the 
future.” Yoshihide Munekuni, Honda’s 

• chairman, said at a news conference in 
Tokyo. “We will study the possibility 
of exports from the Chinese plant in the 
future.” 

General Motors expressed disap- 
pointment but said it would not affect a 
larger commitment to GM ’s $ 1.5 billion 
plant now under construction in Shang- 
; hai, where it plans to start producing 

• Buicks in 18 months. 

; “We regret that it was not possible 
f for Opel/GM to reach agreement with 
1 the authorities in Guangzhou,” GM 



Prime Minister Li Peng of China shaking hands Thursday with a robot 
during a visit to the headquarters of Honda Motor Co. in Tokyo. Honda 
is to become the first major Japanese automaker to build cars in China. 


said. “We believe our proposal, which 
provided a substantial investment in 
Guangzhou, would have been a viable 
business opportunity for all parties con- 
cerned.” 

Honda's local partners are Guang- 
zhou Auto Group Corp., which Peugeot 
executives blamed formating their ven- 
ture more trouble than it was worth, and 
Dongfeng Motor Corp., already a part- 
ner with Honda at a plant that makes 
engine and suspension parts for export 
to other Honda plants in Asia. 

. The new Honda venture plans to start 
modestly, calling for just 30,000 
vehicles a year. The first cars will be 
assembled in late 1999, Honda said. 

Guangzhou Auto hopes to become 
one of a handful of automaking con- 
glomerates thar emerge in China in the 
coming decade. Officials in Beijing 
have said they hope to consolidate the 
nation’s 1 23 auto-assembly plants into a 
dozen companies as part of a plan to 
make the country’s cumbersome staie- 
ron industry more efficient. 

Though its potential is tantalizingly 
large, China still has a relatively small 
car market. Passenger cars account for 
only about one-quarter of the 1 .5 million 
vehicles assembled here, which are 


mostly trucks and vans. 

International automakers, which are 
required to work with a local partner, 
have rarely been able to mm a profit in 
China. The outlook for carmakers has 
become increasingly hazy in recent 
months as car sales have dropped, and 
the recent economic downturn m South- 
east Asia is expected to be a further 
impediment 

[Separately, Honda's Thai subsidiary- 
said Thursday it had slashed car output 
forecasts for the year ending in March 
1 998 by nearly 30.000 units as domestic 
sales collapse amid the economic 
slump, Agence France-Presse reported. 
Honda is also cutting back Thai mo- 
torcycle output by 1 10,000 units.] 

■ Honda EYofit Rises 37% ■ 

Honda reported a 37 percent rise in 
first-half pretax profit, news agencies 
reported from Tokyo. 

Honda said current, or pretax, profit 
rose to 222.6 billion yen ($1.76 billion) 
from 162.4 billion yen a year earlier. 
Sales rose 13 percent, to 2.79 trillion 
yen. In the United States, Honda’s most 
important market, sales jumped 29 per- 
cent, to 1.1 trillion yen. 

(Bloomberg. AFX) 


JOBS: 

An EU Clash? 

Continued from Page 13 

ods of the 15 EU countries, 
taking advantage of a Euro- 
pean economic upswing, pay- 
ing more attention to educa- 
tion and training, and 
, adopting carefully targeted 
If fiscal and financial measures, 
Europe could create 12 mil- 
lion jobs in five years. 

It’s been done before, he 
said. Between 1985 and 1990, 
the European Community 
created 10 million jobs — 
when “we didn’t have the 
same economic strength as 
now. we didn’t have the 

■ promise of a single currency, 
and we didn't have the prof- 
itability we see today.” 

But job creation then did 
not brine unemployment 
. down by much because so 
- many people, particularly 
women, were entering tne 

labor market. The same could 

be true this time. Even if the 
EU succeeds in creating 12 
million jobs, unemployment 
. is unlikely to drop by more 
it than about four points. 

Mr. Flynn said the employ- 
ment rate was a more objec- 
tive measure than the uneni- 
. ployment rate because the 
latter fold an incomplete story. 
' Many people have given up 
looking for work, so they are 
not counted, or they are in tne 

■ unofficial economy, or goy- 
' emments fudge the figures to 

make them look less bau. 

“When people say there 
are 18 million people unem- 
ployed in Europe, 1 dont 
acree.” he said. ”1 think it is 
considerably more, perhaps 
another 9 million. These are 
. people who would take : a jo 
if they could get a job. Meas- 
uring the percentage of those 
in employment as 
total work force available is a 
harder measure, but ^ ls 
best way to compare wi h 
America and Japan. 


Panels Scheduled 
For The Two-Day 
Conference Include: 

• .rjtv T] i 

Quest lor Reserve 
Rcplii.vmcni 

4 DownMrcim 

Sur;i!ii>c>: Mirage nr 
Realiry? 

4 Vanishing >urpkb<.>: 
Mippiy and 
Transportation 

4 Oil O 'mp.i ii vs. Wall 

Suva ana v>. Main Street 

4 Russia- YOU tin- Promise be 
fulfil !<-■*•' r 

40i.-mr,ii A-sia : I lie (inaat 

(lame' in the 31<r 

Oenrun 

4 The Middle F.bt: Prospects 

for Mithiiitv 

4 China and Indio. Fncrey 
Outlook vs Investment 
Strategy 

4 The Future ol'Oii; 
G-'miViodirt/anun of 
Managed Supply? 

4 (iiinu'.e ( .hi'figC: I he 
Hnvirnnmcn; and < hi 
Supplies 

An Executive Conference 
Hosted fay 




The 18th Annual 

OIL & 
ONEY 


CONFERENCE 

November J8 - 19. 1997 

Inter- Continental Hotel, London 


TOWARDS THE YEAR 2000: 

THE END OF SURPLUS CAPACITIES? 

This two-day executive conference will provide a platform 
for open debate — among both speakers and attendees — 
over issues of politics, geopolitics, and finance. Discussions 
by high-level company and government officials will focus 
on the Caspian region, Russia, and the Middle East 

GoirilriiiadSpeakeisliicMK 

Terry Adams, President, Azer- 
baijan UuL Operating Co. 

Issam A A Al-Cbalabi Former 
Minister of Petroleum of Iraq 
Franco Benabe, Managing 
Director and CEO, EM 
Joint Browne, Group Chief 
Executive, BP 
Kathleen Cooper. Chief 
Economist, Exxon Corp. 

James Crump, Chairman, World 

Energy Group, Price TOerhotse 
Luis IL GlustL President. 

Petroleos de Venezuela, S.A. 

Data' Mohamad Idris Mansor. 

Senior VP ofE&P Business, 

tamos 

Dr. M. H. Nejadbossemian, 

Deputy Minister for IntL 
Af&irs, Ministry of Petroleum, 

Islami c Rep. of Iran 


Harold Xarrik. President and 
CEO. Stsuoil 

H daoOkada, Director General, 
E&P. Japan National Oil 
Corporation 

Ambassador Robert Pellelreau. 

farmer; Afridi ft Angell 
Vidor I! Possouvafyub. Deputy 
Minister for Foreign Affairs, 
Russian Federation 
Robert Priddle, Executive Direct on 
International Energy Agency 
William Ramsay. Deputy 
.Assistant Secretary of State, US 
Department of State 
R. Patrick Thompson, Pres- 
ident, New York Mercantile 
Exchange 

HESbeikbAbmadZabi totmani. 
Chairman. Centre for Global 
Energy Studies 


Hr mm mjmuulinn, contact 

Brenda Hagerty. Conference Office. International Herald Tribune 
6$ Long Acre, London WC2E 9JH, England 
Td: (44 171) 836-4802 - fax: (44 171) R3MI717 


Very briefly: 


• Japan’s newest plan to bolster the economy will not include 
lax cuts, according to Koji Omi, director-general of the Eco- 
nomic Planning Agency. He said the plan to be proposed by 
governing Liberal 'Democratic Pam instead would focus oh 
industry deregulation, measures to boost real-estate sales and 
steps to assist small companies. 

•Japan's Transport Ministry said Volkswagen A(J, Ford 
Motor Co. and Rolls-Royce Motor Cars Ltd. had recalled 
vehicles sold in the country for repair of possible defects. The 
ministry said there had been no accidents in Japan related to 
the possible defects. 

• Japanese crude steel output rose in October for the 13th 
consecutive month, gaining l.S percent from a year earlier to 
8.94 million metric Tons, as automobile and machine makers 
increased production for export. 

• Nintendo Co.'s first-half current, or pretax, profit rose 64 
percent, to 49 billion yen (S392.5 million), and the maker of 
video games forecast that full-year curcen! profit would be 15 
percent greater than earnings for the previous year, which 
ended in March. 

• Export-Import Bank of Japan will lend 5100 million for 
the development of offshore oil and naturai-gas fields near the 
Russian island of Sakhalin. Foreign Minister KeizoObuchi of 
Japan said. 

• NEC Corp. will announce Friday an agreement to cooperate 
on semiconductor technology with Philips Semiconductors, a 
subsidiary of Philips Electronics NV of the Netherlands. 

• India will be the home of Microsoft Corp.'s first software 
development center outside Washington state. 

• China Resources Enterprises Ltd., of which South Af- 
rican Breweries Ltd. owns 49 percent, paid S10.8 million for 
a 90 percent stake in Sichuan Yatai Brewing Co. 

• Thailand's change in government might delay the com- 
pletion of purchasing agreements covering natural gas from 
the Gulf of Thailand. Triton Energy Ltd. said. 


• Singapore Telecommunications Ltd.'s first-half profit, 
excluding special £uins. rose 12 percent, to 946.2 million 
Singapore dollars ($600 million) on higher international call- 
ing "traffic. The company had a 200.000 dollar special gain on 
sales of investments. Revenue ro.se 10 percent, to 2.4 billion 
dollars. 

• Publicis SA of France bought a majority stake in the Inovasi 

advertising agency in Jakarta and opened a South Korean 
operation. Ill, ■. mSi m. Rruu m. \/-f. 1 M 


PREPARATORY COMMISSION FOR Tiff COMPREKNSIVE 
NUOfAR-TfST-BAN TREATY ORGANIZATION (CTET0) 

EXPRESSION OF INTEREST 
GLOBAL VSAT TELECOMMUNICATIONS NETWORK 


The CTBTO intends to design and impk'ment a ckibal. VSAT etunntu- 
nkations network to transitu t dab between over JdO nmole senior *ite> 
spread across. all continents, over 100 national dab centres m the signa- 
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Qualified engineering cumpanio and equipment manuiactun r> 'sup- 
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The expression of interest should specify the item( s) of in terest and must 
be received not bier than 1 December '1997. The CTBTO 6 not obliged 
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interest in this project The CTBTO's rules and procedures will apply. 
Interested companies and manufacturers/suppiiers shedd forward th&r 
expressions of interest to the mowing address: 

UNIDO (the CTBTO's Procurement Agent) 

Vienna International Centre, Wagramer Strasse 5. 1400 Vienna. Austria 
Attention: Mr. M. H. AN, Chief. Purchase & Contracts Services/OSS/DA 
Tel (0043-1) 21131-4841. Fax 21131-6815; 

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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14, 1997 


SPONSORED* 


THE EURO AND FINANCIAL MARKETS IN FRANCE 


The French fmanctal 
markets wS make ttm 
transition to the eum in a 


1999. border to be ready, 
tiw primary, securities, 
futures, derivatives and 
other markets are ensuring 
that thek infrastructure is 
in place ahead of time, 
to the photo, traders 
at Hie French Bourse are 
already technofogicaHy 
prepared for the 
instantaneous sett lement 
of securities transactions. 
A new high-speed system 
wffl go aito effect as soon 
as the euro is in place. 



Euronext Will 
Move Securities 
Seamlessly 

French know-how has attracted several euro zone 
exchanges . to bridge national system. 


A Nation Gets Ready for Big Bang Currency Transition 

France s state-of-the-art technology is already poised to lead the Continents monetary integration. Stocks and bonds have long been traded electronically. 


T he waves of tuibulence rolling in from Asia might 
temporarily be affecting world equities markets, in- 
cluding those in Paris, but France is moving ahead 
with ambitious plans to prepare its capital and money 
markets for the single currency in 1999. 

In addition to installing new technology, Paris authorities 
arc forging cross-border alliances to boost the trading ben- 
efits of the euro zone. Franco-German cooperation is par- 
ticularly important in this respect 

French markets enjoy a particular advantage in making the 
above transition: Stocks and bonds have been traded elec- 
tronically in Paris since the mid-1980s. Moreover, the Sico- 
vam registry — which logged more than 100 trillion francs' 
(S 1 7.5 trillion) worth of stocks and bonds operations last year 
— provides Hilly computerized registration of all French 
securities. At the same time, the recently updated automated 
securities settlement procedure called Relit a grande vitesse 
{high-speed settlement system) will enable instantaneous 


settlement of securities transactions. It will go into effect as 
the new single currency swings into force. 

On December 31.1 996. the Paris Bourse boasted a trading 
volume of 1 .45 billion Ifancs, a market capitalization of 3.08 
billion francs in French equities and 4.53 billion francs in 
bonds. Owing in part to the flotation of France Telecom, the 
equities capitalization had risen to around 4 billion francs by 
September 30 of this year, and trading turnover had risen by 
70 percent 

Observers of the French financial markets think the euro 
will make the markets stronger, more liquid and more 
competitive by creating a Europe-wide trading area and by 
eliminating the need to cany out currency-exchange op- 
erations in cross-border transactions within the euro zone. 
One vital consequence of this will be to make the markets 
sector-oriented as opposed to nation-based. 

“Once the angle currency has come into force, the euro 
zone wall be the second-most important monetary area in the 


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world after the U.S. dollar,” says Jeari-Franqois Thdodorej 
chairman and chief executive officer of the Paris Bourse. 
“Euro-zone countries, including France, will then be much 
more attractive to major international investors, including 
those from the United States and Asia. Moreover, company 
analyses will no longer be made on a national basis but rather 
by sector — for example, automotive industry, high-tech, 
luxury goods and so on." 

This will lead to a general dismantling of the invisible 
walls between the different national markets, enabling much 
simpler arbitrage operations between securities quoted on the 
different exchanges. 

"Europe's largest exchanges are today reasoning as if die 
euro zone had already been created,” says Mr. Theodore. 

French model 

Even though trading volumes on die London exchange are 
roughly two and a half times greater than those in Paris, Mr. 
Theodore believes that the French markets enjoy a number of 
advantages in the burgeoning competition for the securities 
business across Europe. 

“The London stock exchange has a number of strong 
points, though technologically it has been slower to mod- 
ernize than Paris," Mr. Theodore continues. France has 
entered the second generation of its automated trading 
.system with its Super CAC procedure, whereas London’s 
automated trading system has just begun. 

“Even more than the technological changeover that this 
represents, London is now faced with a more fundamental 
cultural challenge.” Mr. Theodore adds. “This is to switch 
over from the old market-making system. In that system, 
intermediaries quote buying and selling prices to a central 
market environment, in which the marketbrings offers to buy 
and sell directly together, and the central market determines 
the price." 

The change in trading practice results from the fact that the 
new automated system in London allows traders to be linked 
directly on-line to the central market Most European ex- 
changes, including the one in Paris, operate on the central- 
market principle. 

“France is probably the most advanced country in Europe 
with regard to stock exchange automation. What is now 
needed is to create similar systems at the European level,” 
Mr. Theodore says. 

Automation of French market activities extends well 
beyond the immediate market players. Automated link-ups, 
for example, can be arranged between the exchange and the 
final clients in cases where the intermediary wishes to operate 
in this way. Also, individual customers have for some time 
been able to give electronic stock exchange orders through 
France Telecom’s Minitel system. There are now around 12 
million Minitel terminals in France, and plans are moving 
ahead to provide links between the Minitel and the In- 
ternet. 

Around 5.2 million individual French residents — about 9 
percent of the population — own stock, and about one-third 
of the French markets* total capitalization consists of in- 
vestments by individuals. 

“Wc have always been keen to encourage investment by 
individuals as well as by institutions," says Mr. Theodore. 
“An important technological factor encouraging individual 
investment is the way electronics is making access by 
individuals to the markets easier. One example .is the in- 
troduction of systems that facilitate trading in any number of 
shares, including small quantities." A key move in this 
respect has been the abolition of former requirements to trade 
in minimum lots. 

Federal system 

AH the French financial markets are planning to make the 
transition to the euro in a single move (the “Big Bang”) on 
January 4, 1999, rather than in stages. This means that the 
primary, securities, futures, derivatives and other markets are 
all working to ensure that their logistical and technical 
infrastructure is in place ahead of time. 

“Financial markets' will be substantially merged once the 
single currency is introduced. This will apply particularly to 
money market operations such as swaps, though dealings in 
equities will not be merged to the same extent," says 
Dominique Barbel, a bonds market analyst at Paribas bank in 
Paris. 

Structural reasons largely explain this difference. 

“So far as monetary matters arc concerned, Europe will 
operate as a federal system,” Mr. Baxbct continues. 

The European Central Bank — which is in Frankfurt 
— wifi function as the reserve bank at the core of this 


P lans are moving ahead 
to make the French-in- 
spired Euronext link- 
up operational in 1998. This 
scheme aims to create a net- 
work of major European ex- 
changes using the same tech- 
nology. Brussels has decided 
to join, and Lisbon — which 
recently adopted the French 
Super CAC trading system 
— may do so shortly. 

“The basic idea underly- 
ing the Euronext project is to 
establish bridges between 
national systems so that se- 
curities may be moved about 
more easily.” says Domin- 
ique Barbet, a bonds market 
ana lyst with Paribas bank in 
Paris. “In this respect, it par- 
allels the Target system that 
is being set up to link banking 
settlement systems in Euro- 
pean Union member 
states." 

Euronext follows a “bot- 
tom-up" approach based on 
Cooperation among local ex- 
changes. French authorities 
believe this is more likely to 
succeed in the current Euro- 
pean context than a “top- 
down” system starting off 
with a central oiganization. 

Euronext involves creat- 
ing a common technological 
platform and bringing about 
further harmonization of 
market rules. Stock exchange 
officials in Paris diink the 
project will provide an ex- 
cellent opportunity to export 
French know-how, and they 
are working to ensure that 
this know-how plays the 
leading role in Euronext s 
technical operations. 

In addition. France has 
already launched a European 
network of small, specialized 
stock exchanges called Euro 
NM for dynamic young 
growth companies. Euro NM 
is acting as a curtain-raiser 
for the Euronext link-up be- 
tween the main exchanges, 
and it demonstrates the bot- 
tom-up approach to Euro- 
pean integration of markets 
that is favored by Paris. 

The French authorities 
first created a domestic NM 
{Nouveau Marche . or new 
market) in 1996. Brussels, 
Amsterdam and Frankfurt 
then set up their own NM 
markets and joined the Euro 


k 


NM network with France 
earlier this year. 

The French NM makes 
use of the existing techno- 
logical infrastructure of the 
Paris Bourse, including the 
NSC trade and information 
system, the IFM data- feed to 
information vendors and the £ 
Relit clearing and settlement ' 
procedure. 

The Euro NM initiative in- 
volves three main elements: 
harmonization of listing and 
trading standards, joint mar- 
keting efforts and technolo- 
gical integration of the mem- 
ber exchanges. This last 
element involves linking 
dealing rooms and worksta- 
tions. plus creating a com- 
mon data-feed to information 
vendors. The system rests es- 
sentially on communications 
protocols between each 
member exchange, and it op- 
erates through bilateral links. 

Says Jean-Francois Theo- 
dore, chairman and chief ex- 
ecutive officer of the Paris 
Bourse: “There are currently 
23 markets in derivatives 
products in Europe and 32 
different exchanges (includ- 
ing regional German ones) 
for trading shares and bonds. 

It is difficult to imagine this 
situation continuing indefin- 
itely in a unified euro zone." 

In addition to growing 
competition between exist- 
ing exchanges. Mr. Theodore 
also foresees the emergence 
of new delocalized electronic 
systems. “In this respect, one 
can look at what is happening 
already in the United States, 
where the Instinct system, for 
example, is providing serious 
competition for the NAS- 
DAQ exchange,” says Mr. 
Theodore. “No exchange in 
Europe — with the possible 
exception of London — will 
be able to confront this new 
reality on its own without 
entering into strategic alli- 
ances. 

“For example, in Scand- 
inavia. the Stockholm and 
Copenhagen exchanges have, 
entered into an importiint co- 
operation agreement. At the 
same time, markets such as 
Italy, Spain and the Benelux 
countries now face funda- 
mental strategic decisions 
about their future.” • 


- Continued on page Z1 


“The Ei iro and Financial Markets" 
was produced in its entirely by the Advertising Deportment 
of the Inlemaiiotial Herald Tribune. 

Writer: Michael Rowe, based in Paris. ' 
Program Director: BiU Mahder. 


Forex Dealers Gear Up 
For Some Competition 

The euro zone will eliminate the need to change currencies 
and arrange currency hedging products on dealings among 
member states of the zone. 

How will this affect banks and other institutions that 
carry out foreign exchange (forex) operations? Will their 
business be curtailed, will new opportunities be created or 
will competition become even fierce? 

“One predictable result of the creation of the single 
currency will be to move volatility away from exchange rates 
and toward interest curves, thus providing additional busi- 
ness for interest rate derivatives, ” says Brice-An 
toine Henicz, a markets specialist at Natexis bank in Paris. 
"Also, the existence of the euro will generate opportunities 
for traditional forex dealings between the new European 
currency and the dollar, the yen, and the currencies off 
countries with rapidly emerging markets and significant 
foneigh trade operations.” 

Dominique Barbet. a bonds market analyst at Paribas 
bank in Paris, points out that foreign exchange operations 
are very different from dealings on the stock exchanges, 
which provide a fixed local market structure. 

. “In the forex markets, there are no fixed national struc- 
tures for trading and registering instruments, and trades 
can take place anywhere over the telephone," Mr. Barbet 
says. “Accordingly, forex markets are more fluid, and 
competitive pressures can act more quickly to concentrate 
activities on the most attractive centers. The bilateral 
parities between national currencies that will enterthe euro 
will be fixed 'm May 199S. and from that point there will be 
fierce competition to determine where the main futures 
markets for forex dealings will be situated." 

Cross-border transactions 

Last year, the Banking Commission attached to the Bank of 
Ranee studied the consequences of the move to the euro 
on French banks. 

The commission recently published its findings in Its 
1996 annual report “So far as forex markets are con- 
cerned, firms believe it is crucial to attain a critical mass 
with a sufficient volume of operations. The narrowness of 
margins will exercise pressure to concentrate dealings on a 
small number of very large operators.” 

Replacement of national currencies by the euro will 
affect many other payment activities In addition to forex 
operations. When banks transfer money to another coun- 
try. for example, they normally use the sen/ices of a 
conespondentbank in the country concerned to finalize the 
transfer. 

The single currency and the establishment of cross- 
border settlement systems within the euro zone may ul- 
timately eliminate the need forcorraspondent banks In that 
situation. Cross-border bank card payments might also 
become more common as me single currency creates a 
wider domestic payments market * 3 





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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 14. 1997 


PAGE 21 


SPONSORED SECTION 


THE EURO AND FINANCIAL MARKETS IN FRANCE 


Alliances Help Standardize 
Futures and Options 

Paris is expanding its profile by linking up with foreign partners. 

F rench authorities are foigmg ^ * 
uancesto boost the position of Paris as 


ideal of the CME, when the agreement was 
announced. 

At the same time, the Matif and the SBF 
have set up a joint company to manage and 
expand a range of futures contracts on equity 
market indices. These include Matif con- 
. . tracts on the Paris exchange’s CAC 40 index, 

4 J sanicr y ear - Matif (the French plus industry and European indices. 
Tunires and options exchange) and the Paris Moreover, in July and September, the SBF 
stock exchange (SBF-Paris Bourse) signed a and the Matif signed agreements with Ger- 
cooperation agreement on die management, man and Swiss authorities on the jointtrading 
‘ products. Matif will adopt SBFs of equities market and fixed income de- 


an international center to conduct fu- 
tures and options trading in the euro zone. 
Cooperation with exchanges in the United 
States and Germany is a key plank in this 
program. 


oo? ^{tomated trading mechanism, and 
w h* 00 ?™: sole shareholder in the 
Matif, thus unifying the domestic markets. 

pis agreement was quickly followed by a 
technology exchange and joint trading agree- 
ment between the Matif and the Paris Bourse 
on the one hand and the Chicago Mercantile 
Exchange (CME) and the New York Mer- 
cantile Exchange (NYMEX) on the other; 
The underlying aim is to carve out a strong 
role for the U.SVFrench systems and know- 
how in international futures and options. 

A major objective of the deal with the 
United States is to bring about greater stand- 
ardization of procedures between exchanges 
operating in different time zones. An ad- 
ditional advantage is the ability to e st abli sh 
standardized margin deposit requirements 
for traders carrying out the same operations 
on each of the exchanges involved. 

The Paris exchanges will use the Clearing 
21(g) settlement system developed and ap- 
plied jointly by the CME and NYMEX. 

“Through this latest exchange of tech- 
nology, the Clearing 21® system becomes 
the world standard," said Jack Sandner, pres- 


rivatives. The agreement includes provisions 
on the extension of electronic trading and 
reduction of costs for participants. 

Officials in Paris believe that the link-up 
with the Clearing 21® system under the 
agreement with CME and NYMEX provides 
tile Paris exchange an additional competitive 
argument in its efforts to export SBF tech- 
nological know-how, including the upgraded 
Super CAC trading system. Buyers to date 
include Toronto. Brussels and Usbon. 

One of the main objectives of the agree- 
ment with the German exchange (DTB) is to 
secure a critical mass of futures and options 
deals in the euro from the date that the single 
currency goes into effect This should help to 
strengthen the joint position of the French 
and German markets against inter national 
competitors, including the L1FFE futures 
market in London. 

The current position of the British gov- 
ernment effectively excludes any likelihood 
of Britain's joining the euro at an early date. 
This may increase the attractiveness of Paris 
and Frankfurt as linked centers for euro- 
based derivatives business. • 



The Paris exchanges wBI use a settlement system wfth Chicago and New York exchanges. 


Getting Ready for the Big Bang Currency Transition 


Continued from page 20 


network, and existing central banks at the 
national level will be responsible for im- 
plementing tiie European monetary policy 
locally. 

There will, however, be no equivalent of 
the European central bank so far as stock 
exchanges are concerned. This means that 
competition will play a key role in deter- 
mining the position among the different ex- 
changes. 

“It does not seem likely that individual 
national exchanges will disappear from the 
scene in the near future. On the other hand, if 


some exchanges are less efficient than others, 
they will not attract new issues, and the 
exchanges that perform better will increase 
their market share," says Mr. Barbel 

Maurice Nussenbaum, professor of fi- 
nance at the University of Paris-Dauphine 
(Paris IX) and consultant with financial ad- 
visers Soigem in Paris, pushes this argument 
further. 

“When we look at the stock exchanges in 
Europe, we see that each country has more or 
less a monopoly on trading in the local 
market The question is how much of this 
monopoly will remain after the introduction 
of the euro,” Mr. Nussenbaum says. “As a 


result of tiie introduction of the euro, some 
markets will concentrate more on deepening 
their coverage of provincial markets, and 
others will become more international. There 
will also be more arrivals of international 
market players who will think in new ways 
about where they locate their activities in 
Europe. There will be an increasing tendency 
toward specialization of markets in different 
types of operations. For example, a number 
of American banks that are active in the 
European derivatives markets already locate 
most of their European dealing staff in Lon- 
don. In tiie face of the increasing com- 
petition, existing markets will seek to create 


new alliances. Some will grow, and others are 
likely to be eliminated." 

Pan-European links 

Against the above background, French market 
authorities are keen to make progress on their 
plans to create pan-European links with other 
exchanges. One significant example in this 
respect is provided by current moves to in- 
terconnect French, German and Swiss dealers. 

“In the fust stage, the link-ups are taking 
place between the derivatives markets. The 
effort can then be extended to stock exchange 
dealings in the underlying securities them- 
selves.” Mr Thdodore concludes. • 


Leaner Budgets, a 
Maastricht Must 

Privatization is well under way across Europe. 

A s the date for conversion to the euro approaches, the 
French government is moving ahead with programs 
aimed at privatizing more state-owned businesses 
and opening the equity of public-sector operations to private- 
sector capital. After the recent flotation of France Telecom, 
for example, plans are now under way to prepare Air France 
for a public share issue. 

The need to raise cash in order to reduce budget deficits 
and slash public debt to comply with the Maastricht criteria 
on monetary union provides one of the main motives for 
pushing ahead with privatization. Action by the European 
Commission has also influenced French decisions. 

“The Commission has been pushing deregulation and 
privatization in a number of areas, including telecoms, 
energy and transport,” says Chris Doyle of the London 
Business School. “Britain started privatizing earlier than 
France and other major European countries. Accordingly, 
many privatized British operators see action by the European 
Commission as a positive move in opening up new op- 
portunities for them in Continental Europe.” 

New investors 

At the same time, France's privatization program is helping 
to create a bigger market for both institutional and individual 
investors. This should make the French equities markets as a 
whole more attractive to investors at home and abroad, and 
thus improve market liquidity. The imminent opening up of 
the domestic French markets into the wider euro zone will 
provide extra impetus. 

“Among other features, privatization can be a very ef- 
fective way of obtaining siock market investment from 
individuals who did not previously hold shares.” says Jean- 
c Francois Theodore, chairman and chief executive officer of 
g the Paris Bourse. “Attracting such first-time investors is only 
2 the first step, though. They then have to be convinced that it 
| is worthwhile developing and diversi lying their holdings. A 
I study that wc carried out in 1946 showed that 50 percent of 
share purchasers in privatizations did not previously hold any 
stock at ail.” The study also indicates that once they have 
taken this step, buyers tend to make further equity in- 
vestments. says Mr. Theodore. 

Before the first wave of French privatizations in 1986, 
there were only 2 million shareholders in France out of a total 
population of nearly 60 million. This figure then rose to 
around 6 million, though it declined a little following the 
stock market crash of 1987. A second wave of privatizations 
in 1993 to 1994 revived investor interest. Today some 5.2 
million individuals in France own stock. 

Bill Fischer, a professor at the 1MD business school in 
Lausanne, Switzerland, has worked on privatization Issues in 
both Europe and Asia. 

"It is remarkably difficult for managers in previously 
public sector companies to understand the change in the rules 
of engagement that comes about when they move into the 
private sector," he says. “When the move is first made, there 
is a suspension of the old rules and no clear indication of what 
the new rules are. An essential prerequisite of success in this 
situation is for managers to identity precisely what sorts of 
business they are — or are not — in.” • 


Your Guide To 
129 Top French Companies 





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profiles of all the companies in the SBF 120 Index. 

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background and major activities, recent developments, sales breakdown, shareholders, 
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Updated annually, the Handbook is indispensable for anyone who needs to know 
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the totr I JTS CAIUf NKWSihlPEB 


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, . copies of French Company 

£Ui«50 (US$85) percopy, including 

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PAGE 22 


5 72 Olympic Hurdler 
Is Found Dead at 47 


Rod Milbura, who won a gold 


- medal at the 1972 Olympics in the 
1 10-meter hurdles, was found dead 
in a rail car containing a caustic, 
liquid chemical at the paper plant 
where he worked. He was 47. 

Milbura was found late Tuesday, 
' submerged in the chemical, by a 
supervisor who wait looking for 
him when he failed to answer a 
■ page at a Georgia Pacific paper 
plant near Baton Rouge. Louisiana. 
Authorities said they did not sus- 
pect foul play. 

Milbum had been assigned to un- 
load the rail car, which contained 
liquid sodium chlorate, a chemical 
used in the bleaching process of 


paper making, said Patty Prats- 
Swanson, a spokeswoman forGeor- 


S wanson, a spokeswoman for Geor- 
gia Pacific. Preliminary autopsy re- 
sults showed that Milbum died after , 
inhaling the solution and suffering 
massive burns to his body. 

Milbura won the 1972 gold 
medal in 13.24 seconds, a record 
that was not broken for five years. 
The year before the Olympics he 
went undefeated, w inning 27 con- 
secutive amateur finals. (AP) 


Keenan Hired fay Canucks 


hockey Mike Keenan is return- 
ing to the NHL as coach of the 
struggling Vancouver Canucks. 

Orca Bay Sports and Entertain- 
ment, the Canucks' parent com- 
pany, said Thursday dial Keenan 
would replace Tom Renney and 
would coach die Canucks in Ana- 
heim on Friday night The dis- 
missal of Renney followed last 
week's firing of the team’s pres- 
ident and general manager, Pat 
Quinn. 

Keenan has been out of hockey 
for more than a year and the move 
would reunite him with Mark 
Messier. Hie two helped send the 
New York Rangers to a Stanley 
Cup title in 1994. (AP) 


It’s Crowded at the Top 


golf Peter McWhinney of Aus- 
tralia and Yoshinori. Mizumaki and 
Yoshitaka Yamamoto of Japan shot 
6-under-par 66s on Thureday to 
share the first-round lead in the 
Taiheiyo Masters in Gotemba, Ja- 
pan. 

Jose Maria Olazabal of Spain, the 
winner in 1989 and 1990, was a 
stroke back along with Roger Mack- 
ay and Stewart Ginn of Australia 
and Naomichi Ozaki and Katsunori 
Kuwabara of Japan. “Five-under 
par is a good score, but I feel that I 
can improve on my shots anyway," 
said Olazabal, who is making a suc- 
cessful comeback from severe foot 
problems. 4 1 fed great It's nice to be 
back in Japan.” (AP) ■ 


Holyfield Is Early Pick 


boxing A Nevada sports book 
has made Evander Holyfield a fa- 
vorite over Lennox Lewis if the two 
meet for the undisputed heavy- 
weight championship. 

The Las Vegas Hilton posted 
• odds this week of Holyfield as a 7- 
■ 5 favorite. But die odds are con- 
tingent on die fight being held by 
Dec. 31, 1998. ‘The public is def- 
initely going to bet Evander but, 
personally, I like Lennox," the 
book's manager, Art Manteris, said 


Wednesday. 




Sports 


World Roundup 


Kafelnikov Breezes by Chang 


The Associated Press 

HANNOVER, Germany — Yevgeni 
Kafelnikov blasted past Michael Chang, 
6-3. 6-0, in 57 minutes Thursday to 
become the first player to qualify for the 
se mifinals of this year's ATP Tour 
World Championship. 

Kafelnikov, with a perfect 2-0 record, 
was helped by Jonas Bjorkman ’s 6-3. 6- 
1 victory over an ailing Sergi Bruguera. 
Bruguera dropped to 0-2 and was the 
first player to be eliminated. 

Chang, die tournament's runner-up in 
1995, dropped to 1-1 and will play 
Bjorkman on Friday for a place in the 
semifinals. Bjorkman is also 1-!. 

The $33 million tournament brings 
together the top eight players in the 
world, split into two groups. The top 
two from each group advance to the 
semifinals. 

Meanwhile, Greg Rusedski pulled 
out of the championship because of a 
hamstring injury. 

Rusedski, the first British represen- 
tative to qualify for the season-ending 
event, was replaced by an alternate, 
Thomas Muster. Carlos Moya beat 
Muster, 6-2, 6-3, late Thursday. Muster 
could not have qualified for the semi- 
finals even if be had won. Rusedski, 
ranked No. 5 in the world, bad lost his 
first two matches. 

Kafelnikov, ranked No. 6 in the 
world, is playing his third consecutive 
ATP championship and has reached the 
semifinals for the first time. He over- 
whelmed Chang by hitting winners from 
all over the court, nailing the lines and 
comers with powerful ground strokes. 

“1 cannot play better than that — it's 
by far the best match of the year for 
me," said Kafelnikov, who missed 
more than three months at the beginning 
of the year because of a broken finger on 
his right hand. 

The Russian clinched a berth in the 


event Sunday by winning the Kremlin 
Cup in Moscow, his third title of the 
year. He also reached the semifinals of 
the Paris Open the week before. 

Chang said he had used a bad game 
plan. “If you ever wanted to know a 
specific way not to play Yevgeni Kafel- 
nikov. you should watch this match,” 
Chang said. “Yevgeni was in a pretty 
good grove the whole match. I myself 
just couldn't get going.” 

Chang has lost both of his two career 
encounters with Kafelnikov. 

Kafelnikov broke for a 3-1 lead and 


freed two break points while serving for 
the first set He hit an ace, took the next 


point and held on to win the seL 

He rolled through the second -set, 
breaking the American’s serve three 
times. A shot off the net gave Kafel- 
nikov a break point in the fifth game, 
and Chang then hit a forehand into the 
net. Kafelnikov capitalized on his 
second match point when Chang hit a 
return into die net. 

44 He was too passive, and he gave me 
a chance 10 dictate the match,*' Kafel- 
nikov said. “Once I was ahead, he never 
came back.” 

Chang is making his sixth appearance 
at the elite event, in which he now has a 
7-15 record. He came into the tour- 
nament with a three-match losing streak 
before beating Bruguera in his opener. 

Bjorkman, who has shot to a No. 4 
world ranking, needed even less time 
against a dispirited Bruguera, winning 
in 52 minutes. Bruguera, with pain in his 
back and ribs, indicated he may also 


■ Hingis Struggles bat Wins 

Top-ranked Martina Hingis got a 
fight m the second round of the Advanta 
Championships from the unseeded and 
18 tfa-ranked Sabine Appelmans, who 
flirted with an upset before felling 6-2, 
4-6. 6-2, The Associated Press reported 
from Villanova, Pennsylvania. 

“Every time I’ve played her before. 
I've thought I could’ve done a little 
more,” said Appelxnans, who is 0-5 
against Hingis. “I just told myself to go 
for it.” 

Appehnans was down 3-0 in a first set 
that took only 24 minutes Wednesday 
but went on to break Hingis's serve four 
times before a double-fruit at 2-2 of the 
third set drained her momentum. 

A lengthy sequence at deuce of the 
sixth game ended with Appelmans col- 
lapsing over the net. langhmg. 

“I was more trying to enjoy myself 
and not dying to think about w innin g or 
losing,” Appelmans said. 

Hingis said sire was rusty after a three- 
weds: layoff. “I played well in the be- 
ginning, then lost my concentration,” she 
said. “She played great, running all over, 
smacking one return after another.” 

Hingis said she expected s imilar all- 
out challenges from Appelmans in the 
future. 


drop out of his last group match against 
Kafelnikov. 


Kafelnikov. 

Rusedski, the big-serving Canadian- 
born left-hander who plays for Britain, 
complained about his injury after losing 
to top-ranked Pete Sampras on Wed- 
nesday, saying he had woken up with a 
tight hamstring. 


German Tennis Counts on Becker 


International Herald Tribune 

T HERE ARE Germans behind the 
ticket counters, Germans behind 
the concession stands, Germans 
and more Ge rmans (at least far now) in 
their very expensive seats. 

Bnt for the first time since the men's 
year-end tennis championships aban- 
doned Manhattan and the infinitely 
catchier nickname “The Masters” in 
1990, there are no Germans on court to 
entertain them. 

Boris Becker is short on computer 


Vantage Po ini/CnRi*TOBHiR Clariy 


points and semiretired. Longtime foil 
Michael Stich is short cm motivation and 


Michael Stich is short cm motivation and 
completely retired, and though Nicolas 
Kiefer and Tommy Haas both lode very 
promising, neither one is ever going to 
do what Becker did: win Wimbledon at 
17 and become an instant national 
touchstone. 

It is indubitably the end of an era, and 
as in any fin de regne , the would-be 
survivors are edgy. 

The ATP Tour, which runs the eight- 
man, round-robin event in Hannover 
and bills it optimistically as a “World 


Championship," depends on Germany 
for major chunks of its television rev- 


for major chunks of its television rev- 
enue and sponsorship, which explains 
why there are now hood ornaments af- 
fixed to the nets at its most prestigious 
tournaments. _ 

The German Tennis Federation, 
known by its German acronym DTB, 
has overseen unprecedented growth 
thanks to the myriad exploits of Becker, 
Stich and Steffi Graf, who, it bears 
remembering, has not yet had her last 
word or serve. 

It is tempting in this globalized epoch 


ing their market with them; new stars 
emerge, bringing their markets with 
them. 

The British market is booming wife 
the exotic import Greg Rusedski and the 
local product Tim Henman. So is the 
Australian market with cover boy 
Patrick Rafter, and the South American 
market looks bullish, as well, with 
Chile's crotchety Marcelo Rios and 
Brazil’s French Open champion. Gust- 
avo Kuerten (neither of whom qualified 
for Hannover). 

If foe ATP Tour’s chief executive 
officer, Mark Miles, and his fellow tech- 
nocrats can somehow develop a ser- 
viceable prototype who hails from Ja- 
pan and a charismatic (read: palatably 
zany) American champion to follow in 
the designer sneaker-pints of Pete 
Sampras and Andre Agassi, the tran- 
sition just might go swimmingly. 

But for the moment, Germany, with 
its large, affluent, media-savvy popu- 
lation, is essential to maintaining the 
inflationary spiral that has pushed prize 
money through the roof and, in some 
instances, player accessibility through 
the floor. So just what does Germany, 
with its 2.2 million club players and 
51,000 club courts, plan on doing? 

It appears that it will continue to rely 
heavily on the same transcendent figure 
who ignited the boom at the All England 
Club in 1985: Becker. 


to consider tennis a recession-resistant JL A. up his marbles and aura and mul- 
game: Becker and Stich fade away, tak- ' tiethnic family and go home to Florida 


A 


S RECENTLY as last spring, it 
looked like Becker would pick 


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instead of Munich. The Gentian tax 
authorities were making ominous rum- 
blings, and Becker — arguably as big a 
star m Germany as Michael Jordan is in 
the United States — sounded weary of 
the quotidian pressures that come with 
being iconic. But by last mouth, he had 
agreed to become manager of the Ger- 
man Davis Cup team, a post which 
mighz sound slightly ceremonial but is, 
in truth, no sinecure. 

Becker will be responsible for mar- 
keting Davis Cup in Germany, attract- 
ing sponsors ana overseeing the team’s 
preparation under captain and hand- 
picked Becker confidante Carl-Uwe 
Steeb. Add that to Becker’s pre-existing 
commitment to supervise the junior 
team sponsored by Mercedes, which 
includes Kiefer, and the 30-year-old 
Becker is now the key figure in the 
German men’s game. 

“I want to help Germany stay on the 
map in world tennis,” said Becker, who 
denned himself recently in the Gorman 
press as ‘‘a sports politician.” 

“What Boris wants to do,” said the 
DTB president. Clans Stauder, “is to 
work from the base of the game to the 
top and give all his experience back to 
German tennis. He has changed a lot If 
you would have discussed such matters 
with him even a year ago, he was a 
different person.” 

Stauder, who became president sev- 
eral months before Becker won his first 
Wimbledon, believes Becker came to 
the conclusion that gilded retirement in 
Florida was only a short-term solution. 

Becker already has one positive role 
model: friend and former French star 
Yannick Noah, who has consistently 
turned I'eau into Bordeaux in his tenure 
as France’s Davis Cup maestro. 

But Becker is under more pressure, as 
is Stauder and everyone else associated 
with tennis in a nation where club mem- 

the last year. And Ihat^why^lo^gtiine 
the German Davis Cup captain and 
mana ger, Nikki Pilic, whose contract 
rah through September 1998, was asked 
to step down ahead of schedule and 
accept an adviser’s role. 


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He was denied a 24-hour postpone- 
ment, but he said ir made no difference 
because two doctors had told hkn he had 
to take a week off. 

Sampras’s 64, 7-5 victory over 
Rusedski put him back on course for his 
fourth title. He lost his opening match to 
Moya. 

In each of the three years thax he won 
the title, Sampras lost a march in the 
round-robin portion of the event. 
Sampras had a day off Thursday and 
needs to .beat Patrick Rafter (2-0) on 
Friday to advance. 





\nnui<t7nNvtVn»r 

Yevgeni Kafelnikov lining up a serve against Michael Chang in Hannover. 


Griffey Sweeps MVP Vote 




By Claire Smith 

Hetv York Times Service 


total a perfect 392 points. He easily out- 
distanced the Yankees' Tino Martinez 


NEW YORK — Ken Griffey Jr. con- 
tinued to fulfill his destiny as baseball's 
undisputed best player when he was the 
unanimous choice for the American 
League’s Most Valuable Player award 
in balloting by the Baseball Writers 
Association of America. 

It was the first MVP award for the 
Seattle Mariner center fielder, who had 
been challenged by Barry Bonds, a. 
three-time MVP, to win something be- 
fore being ceded the unofficial title of 
the best player in the major leagues. 

Griffey, already the game’s most pop- 
ular personality, did win something, 
with a season in which he led the league 
in home runs (56), runs batted in (147), 
runs scored (125), total bases (393), ex- 
tra base hits (93) and slugging (.646). 

Thanks to that showing, Griffey be- 
came the ninth unanimous selection in 
the AL, and the first since Frank Thomas 
of the White Sox in 1993, receiving all 28 
first-place votes cast by the jury of two 
writers from each of the league cities to 


distanced foe Yankees* Tin© Martinez 
(296, 44 homers, 141 RBIs). a former 
Griffey teammate who got 24 second- 
place votes and four third-place for 248 
points in a system bused cm 14 points fat 
first place. 9 for second. 8 for third, OQ 
down to 1 point for 10 th place. 

Thomas, the AL batting chumpioft 
with a .347 average, hit 35 homers and 
drove in 125 runs. He finished third with 
172 points. 

Griffey seemed overwhelmed Wed- 
nesday by the award, rate never won by 
his father, the former major leaguer Ken 
Griffey. Speaking from Hawaii in a 
conference call with reporters soon after 


mbs* ' 




. r; 'A.i| 


being informed, he said: 
‘Tm happy, but I’m st 



i<*n a FfUKxr+TOT 

Ken Griffey Jr. watching the ball's 
flight on its way to becoming his 
55th homer of the season, Sept. 22. 


“I’m haypy, but I’m still in a little bit 
of shock. I just really don't know what 
to say or how to say or how to react. This 
award means a lor. You go out and play 
hard. It's the one award foal writers 
choose. As a kid, you always think 
about being the MVP of your team.” 

But Griffey said he would not con- 
sider his accomplishments complete un- 
til he wears a World Series champi- 
onship ring, like his father. 4 "He has 
three and I have none.” Griffey said. “It 
is something 1 want to be a pan of. He’s 
got the flags hanging off the mantel and 
I don’t." 

Griffey had a dispute with the Hall of 
Famer and ESPN commentator Reggie 
Jackson, who suggested in midseasoa 
that the Mariners were no longer the 
team of a slumping Griffey, but rather 
belonged to the shortstop sensation 
Alex Rodriguez, comments that caused 
Griffey to consider skipping baseball's 
All-Star home run contest, which w as- 
televised by the cable network. 

Two days after the All-Star Game, 
Griffey's mother-in-law died of con- 
gestive heart failure: Griffey, obviously 
shaken, fell deeper into the slump in 
which he hit only one homer and drove 
in just 13 runs from June 23 to July 24.. 

It was during that time that Griffey 
uncharacteristically lashed out at the. 
Mariners’ front office for not improving 
the team and complained of never being i 
perceived as being good enough or ap- 
preciated as other players were. 

‘ ‘June and July were kind of tough,” 
Griffey said Wednesday. 44 I wasn’t so 
much worried about myself, but irty 
wife and my kids. But I think they hung . 
in there a lot better than 1 didTl 
struggled, but a lot of people didn’t 
know why.” 


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SPORTS 


Hawks Down 
Pacers to Grab 

8th Straight 


The Associated Press 

sMKttffS'S’jGS 

Hawks improved to 8-0 for the best start 
in franchise history as they beat the 
Indiana Pacere, 89-86. 

Mooirie Blaylock added 18 points, 
including a basket and a free throwin tte 


NBA Roundup 



I * \ 


\S i 


last 10 seconds Wednesday night in 
IndianMjohs. Smith had a basket and 
three free throws in die last two 
minutes. 

Travis Best had an open 3-point at- 
J rv;V tempt from the left side with 0.8 seconds 
• ^ifeiteft, but itrimmed out He was taking the 
final shot because Reggie Miller, who 
scored 30 points, fouled out with- 1:21 to 
play. It was just his second disqual- 
:' ; J ifi cation in the past three seasons. 

' V ; j CntOcm 96, Huggats 86 In Boston, 
Antoine Walker had 19 points and 12 
-V rebounds and the Celtics won for the 

first tune since the season's opening 
night. Ron Mercer added 16 points, in- 
cluding eight in the fourth quarter, and 
Travis Knight had 17 — two shy of his 
career-high. Denver dropped to a dismal 
0-6 record under its rookie coach. Bill 
Hanzlik. 

Kings 11 5, Magic 89 Mitch Richmond 
scored 25 points and Sacramento won 
on the road for the first time this season. 
Mahmoud Abdul-Rauf added 20 for the 
Kings, who placed six players in double 
figures and reached 100 points for the 
, first time this season. Derek Strong had 
' r %> 17 points off the bench for the Magic, 
who shot only 41 percent 
Kmeks 93, Raptors 70 In Toronto, 
Larry Johnson scored 27 points, more 
than twice his season average, as New 
York coasted past the Raptors. Johnson, 
who apologized for his poor shooting in a 
loss at Sacramento last Sunday, scored 16 
points in the first half ooS-of- 11 shooting 
as the Knicks. who were up by as many as 
20 points in the second quarter, opened a 
50-35 lead ai the break. 



What to Do About the NFL Muggers? 

Fines Don’t Seem to Work, but a Pass-Rusher Rap Sheet Might 


By Dave Anderson 

New York Times Service 


Barkley was in 1995. 


It’s the National Football League's 
most persistent problem: how to protea 
its quarterbacks from being mugged, if 
not dismembered or disconnected from 
their senses. 

And this year, judging by ibe number 
of pass-rushers who have been fined for 
what is a pro football felony, it is more 
of a problem than ever. Including the 
preseason, the NFL acknowledges that 
25 players already have been fined, usu- 
ally. $7,500, for “hits on a quarter- . 
back." a big jump from 19 players fined 
throughout ail of 1996. 

“None of those 25," said Greg Aiello, 
the NFL vice president of public re- 
lations. "has been a repeat offender." 

But the possible levy of another $7 500 
fine for the hitler. is hardly equal to the 
possible lengthy absence of the hittee. 

It is time for the NFL to put its pass- 
rushing predators on notice: Adopt a hit- 
the -quarter back point system similar to 

the National Basketball Association's 
flagrant-foul point policy that went into 
effect three years ago. In the NBA. it is 
one point for unnecessary contact Two 
points for unnecessary and excessive 
contact If a player accumulates five 
points in a season, he is automatically 
suspended for one game, as Charles 


“Ever since we put the goint system 


in," said Rod Thom, the NBA's dean of 
discipline, "we haven't had that much 
of a problem. When you get a couple of 
points, you watch what you're doing." 

In the NFL, it could be one point for a 
roughing-the-passer penalty or an un- 
necessary-roughness penalty, m o points 
for a hit on a quarterback (or any other 
player) that warranted a fine. If a player 
accumulates five points, he would be 
automatically suspended for one game. 
For every two points beyond five, he 
again would be suspended for one game. 
Unlike the NBA, which wipes the slate 
clean at the start of the 86-game season. 
the NFL rap sheer should run throughout 
a player's career. 

Is that harsh? Yes, but it is not as harsh 
as the injuries that defenseless quarter- 
backs are subject to in assaults by 300- 
pound ( 1 35-kilogram) defensive linemen 
and 250-pound linebackers. 

During the preseason, two pass-rush- 
ers were fined $20,000 each — the 
Bronco linebacker Bill Romanowski for 
breaking the jaw of the Panthers' quar- 
terback Kerry Collins, and the Panthers' 
defensive end Lamar Lathon for mug- 
ging the Chiefs' quarterback Rich Gan- 
non. Among those fined $ 7,500 was 
John Randle, the Viking defensive 
tackle, for a roughing-the-passer pen- 


alty on the Cardinals’ quarterback Kent 
Graham. 

Since 1994 the Chicago-based Stats 
Inc., with a spotter at each NFL game, 
has recorded which players incur what 
might be called mugging penalties — 



illegal use of forearm. 15 -yardface-r 
calls. According to Stats Inc., over nearly 
four seasons Randle has been whistled 
for 10 of those infractions, the Lions' 
defensive end Robert Pore her for nine, 
the Chargers’ linebacker Junior Seau for 
eight, the Cardinals' defensive tackle 
Eric Swann and the Bears' defensive end 
Alonzo Spellman each for seven. 

Of Randle's 10 penalties, eight were 
for roughing the passer — three this year, 
including the $7,500 hit on Graham. If 
the proposed point-system policy were 
in effect, Randle would have been sus- 
pended for one game after his first 
roughing-the-passer penalty in 1996, 
and he would have been suspended for 
one game twice this season. Porcher, 


Seau, Swann and Spellman, along with a 
live i 


few others with five infractions, also 
would have been suspended. 

In a 16-game season, even one game 
is a severe sentence. Bui some quar- 
terbacks battered by predator* fre- 
quently miss more than one game. Some 
miss a whole season. 


Vinca* L«futerMfen* Fmcc-Pmsc 

The Balls’ Michael Jordan going for the rebound against Juwan Howard 
of the Washington Wizards during second-quarter action in Chicago. 



Wizards 90, Bulls 83 The struggling 
Bulls lost their fourth game — 
something that didn’t happen until Dec. 
26 last year — as Chris Webber led a 
second-half surge that earned visiting 
Washington to victory. Webber scored 8 
of his 17 points during a 12-2 second- 
half run and drew a technical foul against 
Dennis Rodman that precipitated a 
game-clinching 5-0 run. Washington 
held Chicago Do 30 second-half points. 

Tears 114, Rockets ioo Philadelphia 
rallied behind 26 points and 15 assists 
by Allen Iverson and held off a third- 
quarter Houston comeback for its first 
victory of the season. 


98, &ixzlt«s bo Karl Malone 
scored 26 points, and Jeff Homacefc 
added 19 as host Utah beat Vancouver. 
Greg Foster finished with 1 0 points on 5- 
of-6 shooting, and Adam Keefe scored 
four points and grabbed nine rebounds. 

Sum 103, Bucks 95 In Phoenix, Cliff 
Robinson had his best game yet as a 
member of tbe Suns, scoring 21 points. 
Rex Chapman also scored 2 1 points, and 
Jason Kidd had 16 points, 13 rebounds 
and eight assists. 

Pi s ton s 102, Warriors 71 Lindsey 

Hunter scored 22 points, and Brian Wil- 
liams added 19 as visiting Detroit broke 
a five-game losing streak. 


Devils Stop Rangers, 3-2, for 4th Straight 


Caapdal tv Oar Staff Frail Dtsptabrt 

Petr Sykora, Brian Rolston and 
Bobby Holik scored for the New Jer- 
sey Devils, who won their fourth con- 
secutive game, beating the New York 


NHL Roundup 


Rangers ar Madison Square Garden by 
a score of 3-2. The Rangers twice fell 
behind by two goals. 

Capitals 4, Penguins 1 Adam Oates 
scored one goal and assisted on two in 


a four-goal second period for visiting 
Washington. The Capitals' goalie. 
Olaf Kolzig, lost his shutout with 58 
seconds left in the third period when 
Jiri Slegr scored. 

Islanders 2, Panthers 2 Eric Fichaud 
stopped 57 shots and visiting New* 
York scored two goals in a 1 :26 span in 
the second period. 

Bruins 3, Stars 3 In Dallas. Ted 
Donato scored with 41J seconds left, 
after Boston pulled its goalie to gain an 
extra attacker. 


Hurricanes 8, OBers 4 In Edmonton, 
Sami Kapanen recorded his first NHL 
hat trick as Carolina extended the Oil- 
ers' win less streak io seven games. 

Canucks 5, Sharks 2 Pavel Bure 
scored on a penalty shot, igniting a 
three-goal first period us visiting Van- 
couver ended a club-record 10-game 
losing streak. 

Canadians 4, Mighty Ducks 3 In Ana- 
heim, Valeri Bure scored with 52 
seconds left in overtime as Montreal 
won its sixth straight game. <. -IP. \>T i 


Scoreboard 


basketball 


NBA Standings 


T- TO 



FUratN CONHHDa 

ATLANTIC DIVISION 

W L Pet 68 
New Jersey 4 1 400 — 

Miami 5 2 .714 — 

‘ New York 5 3 425 H 

Orlando 3 4 ,429 2 

Washington 3 4 429 2 

Baskin 2 S .286 3 

Philadelphia 1 5 .107 3M 

CENTRAL DMRON 

Atlanta 8 0 1.000 — 

awrWte 4 2 Ml "3 ' 

Milwaukee 4 2 MI 3 

Chicago 4 4 .500 4 

Cleveland 3 3 -500 4 

Detroit 3 5 J37S S 

Indiana 2 5 .286 5V4 

Toronto 1 6 .143 Mr 

mTDH CMTOMNCI 

miEST division 

W L Pet 68 

San Antonia 6 1 457 — 

Minnesota 4 2 Ml 1% 

Daflas 3 3 JS00 2H 

Houston 1 3 JM ^ 

Utah 3 4 429 3 

Vancouver 3 5 375 3V4 

Denver 0 6 .000 5V. 

PACIFIC DIVISION 

UL Lakers 5 D 1 MO — 

. Portland 5 1 333 » 

Phoenix 4 1 300 1 

Seattle 5 2 -714 1 

‘Sacramento 2 5 386 4 

LA. Cllppeni 1 5 .167 4% 

Golden State 0 7 -MO 6 

WEDNESDAY'S USOIXI 

Denver 24 27 1? T*— M 

Boston 20 23 29 24— 96 

D: Battle 7-9 04) 1* Washington 44 3-4 13j 


8; Walker 4- 15 10-11 19. Knight 7-15 2-2 17. 
Rebounds— Denver 58 (Garrett 13). Boston 
48 (Walker 12). Assists -Denver 19 (New- 
man. Jackson 5). Boston 23 (BiDups 6}. 
Atlanta 24 22 If 24-89 

Indian 22 IS 28 21- « 

A: Mutombo 12-1 8 1-2 2ft Smith 61 7 3-4 21; 
I: Miller 10-15 64 36 Sndts 9-17 34 21. 
Rebounds— Atlanta 49 (Mutombo IS. Indi- 
an 34 (D-Davis 11). Assafe-Altonto 21 
(Blaylock 91. Indiana 21 CJacJaan7,Best7). 
Sacramento * 26 32 29 28-115 

Orlando 23 24 17 25- 89 

& Richmond 61 4 65 2ft Abdul- Rauf 1614 
0-0 2ft O: Strong 7-17 34 17, Seikaiy 44 5-4 
13. Rebounds— Sacramento 51 (Funder- 
bake 9). Orlando 56 (Strong IQ. 
Assists— Sacramento 27 gSdtmond- &■ 
Dehere 5), Orlando 14 (Prioe4). 

NOW York 26 24 22 21— 93 

Toronto 19 1* 18 17—78 

' N.Yj Johnson 12-203-327, Ewing 7-133-3 
17iT: Wallace 5-103-413 W.WNtoms 4-161- 
2 11. Robounds-New York 62 [Durfley 11). 
Toronto 45 CJones 73. Assists— New York 27 
(Wart 9). Toronto 17 (Stoudamtra 7). 
Washington ' 26 24 U 25— f# 

Chicago 38 23 16 14- 83 

W: Howard 4-11 16101ft Wfebbor 7-15 1-2 
17, SMckkuid 61 9 54 1 73 C Joidan 10-28 6 
12 2ft Langley 9-15 3-5 21. RW- 
baands— Washington 50 (Webber 9J, Chi- 
cago 58 (Rodman 14). Ai rtst s W as hin gton 
17 (Strickland 8), CMoogo 19 (Langley 5. 
Harper 51. 

PbBodetobio 27 28 27 32-114 

Houston 24 W 33 14-180 

P: Iverson 11-17 24 2ft Stackhouse 613 6 
017; H: DrexlerP-l 4 2-2 2ft Barkley 613 7-10 
19. Rtboands-PModdphki 44 (Coteman 81. 
Houston 50 (Otatewon 15). Asststs- 
— Philadelphia 29 (Iverson 15), Houston 25 


0 19. Rebouaita— Vancouver 51 (Abdur- 
Rahlnv Lynch 7), Utah 60 (Koafe. Ostartag 
9). Assists— Vancouver 21 (Daniels 7), Utah 
30(EMey1«. 

Milwaukee 25 18 24 28- 95 

Pbaeabr BUM 25—103 

M: G .Robinson 15- 24 1-1 31, EJahnsaii67 
64 16; P: Chapman 7-1544 2 j, CRobknon 
616 66 21. Rabas nita— Milwaukee 36 (HN 
8), Phoenix 51 (KkU 13). 
Assists — MJwrautee 25 (Brendan 8), 
Phoenix 30 (KJohnson 9 ). 

Detroit 21 18 34 29-101 

Goldan Stats 21 14 20 16- 71 

D: Hunter 9-15 2-3 22. B-W1ll1aa)s9-13 1-2 
.19: GSjSmltn 6122-4 14. Sprewell 612 34 
14. RebMMds— DeboB 58 (B.Wfflams 9 
.J.WWoros 9), Golden State G (Shaw 7). . 
AseWs-Detralt 26 (HD 13). Golden State 18 
(Sprewe85). 


Florida 5 8 4 14 39 52 

Tampa Bay 2 13 2 6 30 61 

NORTHEAST DIVI810N 

W L T PIS OF GA 
Montreal 12 4 2 26 60 39 

Boston 10 6 ? 22 44 40 

Ottawa 9 7.3 21 55 44 

Pittsburgh B 8 4 20 S3 56 

Carolina 7 9 3 17 53 56 

Buffalo 5 8 4 14 43 55 


EuroLeaoue 


GROUP A 

CSKA Moscow 77, CXympialaB Pfcaetts 58 
OROUPB 

PAOK Stfmfta 89, Croatia SpB 60 
group c 

partban Belgrade 10ft Barcekma 110k OT 
GROUPD 

AEK Athens 74, Olympia UuMlona 65 
OROUPB 

Estudlantaa Madrid 71. Turk Teteram 73 


CE HOCKEY 


NHL Standings 


KOANIICDIVtSWN 


W L- T Pts GF GA 


(Drexfer 7}. 

PhBadetehto 

11 

5 

3 

25 

59 

45 

Vancouver 21 12 34 23— SO 

New Jersey 

12 

5 

0 

24 

53 

31 

Utah M 29 25 26- 98 

wasiHnoran 

10 

7 

2 

22 

54 

44 

V: Reeves 7-131-2 15. Abdur-RaMn>6126 

H.Y. Istondere 

7 

7 

4 

18 

52 

48 

3 1ft- Ih Motone 617 68 2ft Homacek 616 6 

N.Y. Rangers 

4 

7 

7 

15 

44 

48 


wtxrmi comfshmcx 

CENTRAL CXVIGiOM 

W L T Pts GF GA 
Detroit 12 4 3 27 64 42 

SL Louis 12 5 2 26 40 41 

Dolton 10 6 4 24 61 54 

Phoenix 8 7 2 18 52 46 

Chicago - 7 11 1 15 36 50 

Toronto 5 8 3 13 34 47 

PAORC DIVISION 

W L T PIS GF GA 
Colorado 9 3 6 24 57 43 

Aim helm • 8 7 4 20 51 52 

Los Angels 8 7 4 20 65 52 

Edmonton 5 10 4 14 44 65 

SaiJose 6 12 1 13 48 60 

Calgary 3 12 4 ID 49 65 

Voncouwir * 13 2 10 46 70 

wmasoicri umn 

Wesbmgton 0 4 8-4 

Pittsburgh 8 8 1—1 

First Period: Nona. Second Period: W- 
Bondra 9 (Oates, Witt). Z W-Klee t (Cato 
Berube) ft W-Oates 6 (Zednik. 
KonowaMiuU 4, W-Housley 2 (Oates. 
Bondra) (pp). ThW Period: P-Stegr 2 
(Morozov) Shots on gold: W- 613-8—27. P- 
10-611—25. GeaHaB W-Kotag. Rttsbrogh, 
Barrassa. Skudra. 

New Jersey 0 2 1-3 

N-YRougers 8 8 2-2 

First Period; None. Seared Period: NJ.- 
Sykora 7, ft NJ.-> Robton 1 (Glhnour, 
Pederson) Third' Period: Now York, 
Sundstram 6 (Stevens. Gretzky) 6 NJ.-Hollk 
5 (Souray) ft New Yarik SureMrera 7. Shots 


on goal; NJ.- 7-63-18. New York 368-1 9. 
Gaaflos: NJ.-Bradeiir. New York. Richter. 
N.Y. Islanders 0 2 0 0-2 

Florida 2 8 0 8-2 

First Period: F-WhJtney 3 (Svehta. 
Sheppard) (pp). 2 F-Undsoy i (Gagne r. 
Svehta) Seared Period: New York. Green 7 
(Pa Iffy. Retold) (ppl.4. New York, Reichel 7 
(Czakawski, NemcMnov) Third Period: 
None. Overtime: None. Shots on goal: New 
York 3-7-8-2—20. F- 17-1 1-9-2-39. Power 
ploy Opportunities — NewYruk ) at 4 F - 1 of 4. 
GoaBeS: New York. FkhautL F- * 
VanWesbroudc. 

Boston 1 0 2 0—3 

Danm 1 2 8 0-3 

Rfst Period: B-EHett 7 (Donato. Bourque) 
(pp). ft O-Nteumendyk 11 (Vtobeek. Zubov) 
Seared Period: D-Letdkien 4 

(Lflngenbrormv Adams) 4 D-Vertreek 6 
(Hague) Third Period: B- Bourque 5 
(Sullivan, DIMalo) ft B-Danato 9 (Alihan 
Carted Overtime: Nona. Shots an gold: B- 6 
61 2-0—22. D- 67-61— IB. Goafias: B-Corey, 
Dafoe. D-Beifonr. 

CreoBnu 2 2 2-6 

Edmonton 1 1 

First Period: E-Weight 7 (Smyth. 
Kovalenko) (pp). ft CaroGna Roberto 5 
(Wesley, Leschyshyn) (pp). ft CaroBna, 
Sanderson 5 (Wesley, Kiwi) Secant Periwfe 
Carolina Kapanen 8 (Leadiyshyn. Roberto). 

5> E-Murray 3 (Kmaienka) ft Camilla 
Kapanen? (Roberto. Primaau) Third Period: 
Caradiia Kapanen 10 (Burt) ft Caredna Kron 
4 (Sanderson Emerson) 9, E-Grier 2 
(Weight McAmmomO Jft E-Smith 5 
(Mironov, Lingmn) Shots ea goal: Caroflna 9- 
165—27. E- 169-13-32. Gordies; Carolina 
Burke. E-Joseph. 

Vancouver 3 2 0-5 

San Jose 0 1 1—2 

First Ported: V-Bure 8 (penalty shat) 1 V- 
Stolos 2 (Mogilny. Bure) ft V-Undan 5 
(SHUnger, Nrstond) Swsad Period; V- 
Lumme UMessm Bure) (pp)-ft SJ.- Skokie 
1 (Donovan Brennan) ft V-, sttnger 3 


(NaslureL Noonan) Third Period: SJ.- 
Danovan 3 (Skalda Mottwni). Shots aa goal: 
V- 967—24. SJ.- 612-15—32. Gordies: V- 
lite. SJ.- Vernon. 

Montreal 10 2 1-4 

Anahetai 1 0 2 0-3 

Fbst Period: M-Kohru 5 (Corson. Popovtc) 
ft A- Todd ft Soared Period: None. Third 
Period : A-Sacao 1 (penalty shot) 4, M- 
Rudnsky 7 (Richer, RecchO (pp). ft A-. Sale! 
3 (Mironov, RuccWnl ft M-Matokhav 5 
(Recdd. Kofvuf (pp). Overtime: 7, M-Bura 6 
(Rudnsky, Popovfc) Shots oa goet M- 7-19- 
62-36. A- 61662-25. Goodes: M- 
Thnwirtt. A- Hebert 


CRICKET 


Celia Vigo I.MallorcaO 
VoBodolld ft Racing Santander 0 
Compostela Z Real Madrid 3 
Real Beds ft Real Sodedad 0 
STANDMQSs BaroHuna 25 potots. Real 
Madrid. Cotta Vigo 24- Espartfol 2 ft Afleflro 
Madrid. Real Sodedad 21; Mataca 1 ft 
Oviedo 1 7: Athletic Bilbao. Merida Real Betis 
14. Doporttva Corona 11 Zaragrua Rodng 
Santander, Tenerife 1 1; Compostela lftVot- 
todond ft Vo ten do ft Satamam 6: Sporting 
Ggonl. 

nMNDLY nrmtMAnoiuiL 

France ft Scotland 1 

URUGUAY aUUIPtOKMV 

HHAL.RETURMLEO 
Penarel ft Defensor Sporting 0 
Pcnarat wan W on aggregate. 


arm aaHBK tour 
ABOUI QAOEER XHAN XI VS. WEST HUES 
4-DWf HATCH. SD DAY 
THURSDAY IN RAWALPINDI, RMOSTM1 
West Indies: 464 and 1461 
Abdul Qadeer Khan XL- 267 


TENNIS 


DUTCH ram DIVISION 

Vitesse Arnhem ft Sparta Rottoniam 0 
NEC Niknagen ft Rada JC Kerkrade 1 
Ajax Amsterdam l. Twerde Enschede 0 
Hoereaveen ft Vgiutdam 1 
STAtRMNasE Ajax Amsterdam 4ft PSV 
Etodhoven 32; Vitesse Arnhem. Hotmwaon 
21k Feyenoord 24; Twente Enschede 20; Ra- 
da JC Keikrade, NEC N^megen 1ft GraaF 
schap Doeffnctoem 1ft- NAC Breda, Sparta 
Rotterdam 1 ft Groningen. Fortune SlttareL 
Utrecht U- RKC WPalw|k 1 ft Wfflem II 
TBbuig 12; Maastricht 1ft Volendam 7. 

SPANISH FIRST PIV1MOM 
Espanyrri 3. Valencia 0 
Zaragoza 1. Deportivo Corona 2 
Merida 1. Sporting Gijon 0 
Oviedo 1, Tenerife 0 


ATF TOUR WORLD OUMPtOHSHIP 

M HAMOVER. GERMANY 

WHrre group 

Yevgeny Kafelnikov (6). Russia del. 
Michael Chang (2), U6. 6ft 6ft 
Jonas BJoikman (4), Svwderv Sergi 
Bruguera (8), Spain 63, 61 
red group 

Patrick Rafter (3), Australia, def. Carios 
Moya (7). Spain. 6-4. 62. 

Greg Rusedski. Britain, putted with ham- 
string Injury and will be replaced by Thomas 
Muster. Austria 


Toronto— A greed to terms with RHP Luis 
Andujaron minor-league ramrod. 

NATIONAL LEAGUE 

Ssn diego — A greed to terms with C Carlas 
Hernandez on l-yeor contract. 

BAMOTBAU 

NATIONAL BASKETBALL ASSOCIATION 

BENVER-Put F Eric Williams on In ruled 
reserve. Activated F Laphonso Ellis from in- 
hired reserve. 

Toronto- Announced the retirement of G 
John Lang. Named Long player liaison for 
community rotations. Put F Corios Rogers an 
ti>ta red list. Aal voted C Ed Stokes ham In- 
jured Hst 

FOOTBALL 

NATIONAL FOOTBALL LEAGUE 

green BAY-Slgned WR RoHl Preston as 
hire ogent 

Indianapolis — Put OB Damon Watts on 
Injured reserve. 

Jacksonville— -Put DT Don Davcy on In- 
lured reserve. Signed DT Jose White. 

KANSASCrTY-Sigmd TE Alfred Pugurui to 
T-year contract. 


TRANSITIONS 


AUEMCAH LEAGUE 

Cleveland— Agreed to terms with LHP 
Paul Assenmodier on 2-year contrad. 

new YORK— Agreed to terms with 28 Li* 
Soto on 2 -yea r centred. 

Oakland— Agreed to terms with 1B-3B 
Dave Magadan on 1 -year contncL 


NATIONAL HOCKEY LEAGUE 

Calgary— Sent D Kevin Dahl to CMeoga. 
IHI_ 

couimbus— Announced tool the franchise 
w III he catted Blue Jacked. 

DALLAS STARS— Put LW Patrick Cate an 
Injured reserve. Readied RW Jell M itched 
and LW Jamto Wright from MKMgan. IHL. 

N.Y. rangers— R ecatted RW Johan Lind- 
bwn from HarttonL AHl_ 

FHOENix-SignedD John Slooey to hyear 
contract. 

ST. LtoliS-RetumedGRIdj Parent to Man- 
itoba. IHL. 

TAMPA BAV-Npmed Jacques Demers 
coach. 

Toronto— Recalled D Mott Marita from 
Chicago. IHL. 

coLuai 

k ENT-A nnounced it will not renew con- 
trad ol Jim Corrigan football coach. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



Awes Sk Aivrwtws 

T.. advrrtwr 

'^ryprYsenumv.'-. 













PAGE 24 


INTERNATIONAL HERALD TRIBUNE, FRIDAY. NOVEMBER 14, 1997 


POSTCARD 

Verse in the Saddle 


By James Brooke 

New York Times Service 


Cglorado — ft was ihe gala banquet of an 
annual congress of snowplow drivers, big taciturn n wn . 
somewith tattoos. Empty beer bottles littered the tables by the 
umeKaxter Black, an impish man in an orange shirt, climbed 
the stage to read poetry. 

• by nothing stronger than a pinch of snuff, Amer- 

lca s leading cowboy poet worked the crowd’s emotions as 
expertly as he once worked fecdloi cattle. For die largely mate 
audience, he declaimed “My Kinda Track”: 

windows on pickups ? Reminds me of jeans 
wirn a zipper that zips up the side. 

They should, soak up the dents of everyday life, 
uke a boxer losiri his teeth. 

And I Uke a truck, when you lift up the hood, 

You can see the ground underneath! 


The raucous crowd turned pensive and misty-eyed when he 
recited “The Mountain,’ 1 verses that resonated among men 
and women facing a winter of clearing some of America's 
most avalanche-prone highways. 

Nobody rides the Mountaintop when Winter's locked her jaws. 
The Mountain bears the brunt alone, his shoulder to the daws. 
She carves great gashes down his flank tike butchers flensing 
sheep. ‘ 


To the dismay of purists who think poets should be com- 
mercial failures, Black is probably the most successful living 
American poet. Since 1980, his 13 books of poetiy and essays 
have sold 350,000 copies, and be has made 10 poetiy videos, 
dozens of audiocassettes and given about 1,600 public per- 
formances. He writes a weekly newspaper column and a weekly 
conic strip ("Ag Man”) and records radio commercials for 
clients like the Texas State Fair and Rawhide Root Beer. 

Black's sales figures are the more remarkable for being 
concentrated in the nation's least populated region, the rural 
- interior West, home to roughly 5 percent of the nation’s 
people. But Black, with his gray felt Resistol hat, his chestnut 
eyes framed by crinkles from years of outdoor work, and his 
mustache drooping to his chin like an old rope, is part of a 
literary movement that has taken off in these parts: cowboy 
poetiy. 

“It combines something masculine with the fe minin e,'* 
Black said of the runaway regional success of cowboy poetry 
in the last 15 years. 

Cowboy poetry's modem renaissance dales to January 
1985, when the Western Fplklife Center took a gamble and 
held a gathering of cowboy poets in Elko. Nevada. On the first 
night, organizers were so nervous they almost put away some 
of the folding chairs out of fear that there would be only a 
sparse crowd, but several hundred people turned out 

But from this weekend event the gathering has expanded 
into a weeklong extravaganza, drawing 9,000 people every 
January to Elko, selling out local hotels weeks in advance. 
“There are now 200 cowboy poetry events that are modeled 
■ after oars, largely in s mall towns in the West” Had Cannon, 
the center’s founding director, said from Elko. 


Barbra Streisand on Love and Lamb Stew 


By Claudia Dreifus 

New York Times Service 

M ALIBU, California — Barbra 
Streisand's in love. And she's 
wearing a white-diamond engage- 
ment ring on her elegantly man- 
icured right hand. Ana she’s wax- 
ing every bit as ecstatic as the lyrics 
to one or her hit songs. 

“He's so nurturing,” Streisand 
enthused about her 
fianoS, the actor 
James Brolin. dur- 
ing a six-hour con- 
versation at her 
beach-front estate 
in Malibu. “He's 
my lover, and my 

romantic other self. 

But he also fills a need. I now know 
whax it is to have a father.” She 
wants “to nurture him,” she says. 
“I want to give him lamb stew on a 
cold night, Uke last night” 
Followers of Barbra Joan Strei- 
sand’s legend know of the details of 
her early story. She was 15 months 
old when her father, Emanuel, died. 
Afterward she lived a miserable 
Brooklyn childhood, always striv- 
ing for attention from an em- 
bittered mother, battling her dis- 
approving stepfather, dreaming of 
someday getting out and becoming 
a movie star. 

■ Streisand, 55, has been making 
movies and recordings for more 
than 30 years now. As an actress, 
she broadened the concept of 
beauty, glorifying her imperfect 
□ose, emphasizing her ethnic style. 
More important, Streisand 
smashed through Hollywood’s 
glass ceiling by becoming the first 
woman to produce, direct and star 
in her own films. It is that ac- 
complishment, she says, that has 
made her a sometimes unpopular 
figure within sectors of the enter- 
tainment industry. 

“Why am I called an egotist?'* 
she asks, rhetorically. “Is it be- 
cause I dare to do more than one 
job? Why do you think men are not 
called egotists? Why isn’t Kevin 
Costner called an egotist for acting 


Of all her films, 
she is proudest of 
‘Yenti,’ dedicated 
to her father. 


and directing his own movies? Or 


Mel Gibson? I just think it’s a sexist 
attitude, that’s alL" ■ 

Talk like that makes a visitor ex- 
pect a f eminis t firebrand. Yet spend 
an afternoon with Streisand, and yon 
see a contradictory woman who is 
never very far from the fatherless 
child. Indeed, you expecta tycoon in 
the mold of a Barbara Stanwyck 
character. Instead, you find Helen 
Gurley Brown, with a touch ofmys- 
ticism. 

For instance, 
Streisand says that 
as she was rumin- 
ating about wheth- 
er or not to direct 
the 1983 film 
“Yenti,” she went 

to visit her father's 

grave for the first time, ' ‘because 1 
was angry, probably, that he died 
on me.” 

Later that day, she invited a me- 
dium to the home of her older broth- 
er, Sheldon. “We're sitting around 
this. table at my brother's house,” 
she recalls. “There are no strings, 
no electrical wires, there’s nothing 
touching this table. The table starts 
to move. I get so scared, I run into 
the bathroom. I finally come ouL” 
The table, raised a leg, made a 
noise on the floor and seemed to 
spell out her name. “And who is 
the spirit in the room? M-A-N-N- 
Y, which is my father's nickname. 
The message to Barbra from 
Manny, ‘S-O-R-R-Y.’ And then, 
‘S-I-N-G P-R-O-U-D.’ ” 

Streisand says that this moment 
seemed a signal that she should 
direct the movie. Of all the films she 
has made, she is most proud of 
“Yenti,” because, “it was dedic- 
ated to my father,” she says. “I felt 
like I had almost created him. I had 
a father in that movie. He lived.” 

As for the father substitute in her 
life now, Brolin came to her by a 
more conventional method, a bund 
date. It happened 16 months ago, 
and there was an instan t attraction. 
Two months after the romance 
began. Brolin went off to Ireland to 
act in and direct “My Brother’s 
War,” a s mall independent film. 
Streisand finished editing her own 



_ . . 

Um B,ribot=»WlTv y«rt.Tu»~ 

Streisand at her beach-front estate in Malibu, California. 


“The Mirror Has Two Faces,” and 
then flew to his side. 

“I really wanted to support Tun, 
because I knew bow difficult it was 
to direct a movie that you're in,” 
she says. “I had been with men who 
were not so supportive when I was 
doing a movie. So I really wanted to 
give him what I felt I didn't get. I 
would get up at 5 and give him 
breakfast and help him through that 
ordeal.” 

Years ago, she was married to the 
actor Elliot Gould. They have a son, 
Jason, now 30. She has dated Don 
Johnson and Andre Agassi, and 
there was a long, stormy relation- 
ship with die producer Jon Peters. 

She also dated Pierre Elliott 
Trudeau, the former Canadian prime 
minister. “Trudeau was a man I 
wasn't ready for,” she says. “In 
other words, he was magnificent It 


' scared me, even though my lucky 
number is 24, and he lived at 24 
Sussex Drive, and he had this in- 
credible powerful image, and I loved 
his politics. I was 29, and he was 50. 
It was complicated, the father image, 
as well as the sexual image.” 

Sighing, Streisand says: “You 
get wiser. You get, ‘You love me 
for all I am, or don't bother.' I'm 
not going to downplay myself for 
the sake of man's ego. And there- 
fore I found myself a man whose 
ego is veiy strong. He’s proud of 
my accomplishments. 

“When he came into my life, be 
said, ‘I'm here to empower you.' 
He actually said that to me, and I 
thought: ‘This is some hell of a guy. 
You mean to give me more power?' 
Because I ne«ied to be empowered 
in this personal part of me. While 
I'm doing music, he lies here and 


reads scripts. He’s doing his work, 
but he’s with me. He doesn’t feel 
neglected. He understands the pro- 
cess. I mean, it’s a mitzvah. It's a 
blessing. It's n joy.” 

Her publicist, Dick Guttman, 
said the couple were likely to be 
married after die New Year. 

. Streisand, who has long been in- 
terested in politics, is a major sup- 
porter of President Bill Clinton, for 
whom she has only the most en- 
thusiastic praise. Perhaps one rea- 
son for h er unfailing enthusiasm for 
the president is her personal close- 
ness to members of his family. 

If Brolin is her father substitute, 
then the president's mother, Vir- 
ginia Kelley, who died in 1 994, was. 
for a while,' her mother of choice. ‘ ‘I 
called her my Southern mom.” 
Streisand says. “She knew how to 
soothe with words. Virginia would 
say, ‘Do you know how precious 
you are?' Every conversation, she'd 
say, ‘I love you.’ The way I was 
brought up, nobody ever used words 
Uke ‘I love you.' I just wanted to 
take care of her. I was so looking 
forward to have her visit me out 
here. I wanted to take her shopping, 
because she was so appreciative of 
everything she was given.” 

Streisand recalls attending Kel- 
ley’s funeral and feeling tremend- 
ously moved tty the gospel song 
“On Holy Ground." At that sad 
moment, Streisand vowed to create 
her own memorial to Kelley, a re- 
cord album of soqgs with religious 
themes. The recording, “Higher 
Ground,’' is being released by Sony 
and reflects some of Streisand's 
new-found optimism. The album is 
dedicated to Kelley, but also to 
“J.B., for giving me the love I sing 
about;’' 

Has Streisand ever wondered 
what her life might have been like if 
she had actually had a mother as 
uncritically loving as Kelley? 

She takes a long breath. “Either 
I would have become president or a 
very happy Long Island housewife 
with no artistic ambitions and no 
need to express herself beyond 
children and a house. One or the 
other.” 




SHAKESPEARE TREK 


PEOPLE 


Patrick Stewart: Making a Break With the Space Suit 


By David Richards 

Washington Post Service 


W ASHINGTON — Patrick Stewart 
knows what it’s Uke to want to kill 
someone. Uke all of us, he says, he has 
experienced his share of murderous thoughts. 

But this particular morning, with sunlight 
pouring cheerfully through the window, he’s 
trying to figure out what goes on in a killer's 
head after he has committed the deed. What 
does it feel like to have murdered? 

“It’s much easier to know the pre-expe- 
rience, I think," he said in a sonorous voice 
that sounds like thunder dipped in honey. 
“But obviously I’ve never murdered any- 
body. I haven't even done much murdering 
onstage. Just battle scenes and sword fights — 
and that is all kind of silly." 

The man with the gleaming ovoid pate, 
known the world over as Jean -Luc Picard in the 
syndicated TV series “Star Trek: The Next 
Generation.” was poised to take on the title 
role in “Othello,” which begins performances 
at the Shakespeare Theatre in Washington next 
week. It's one of the theater's most demanding 
roles — an impossibly high hurdle, he believes, 
that separates the great actors from the near- 
greats — and he was feeling the pressure. 

A self-confessed addict for research, Stewart has 
been grilling psychologists about violence and ob- 
session. He has been reading scholarly treatises like 
the one that sits on the coffee table before him, 
“Shakespeare as Prompter The Amending Ima- 
gination and the Therapeutic Process.” He's even 
hoping to pick up a few pointers from author John 
Douglas, who profiles serial killers for the FBI. 
“He looks for clues on the murder scene," Stewart 



xplains. “So I'm going to give him the ‘Othello' 
rime scene and ask him to do 


OngHrro-WTVI 

Patrick Stewart will play the title role in “Othello.’ 

and I was kind of licking my wounds. But I thought, 
‘You've actually done the role.' Granted, in a 
rehearsal room, and wearing jeans and a T-shirt, 
with substitute props and some actors still caiTying 
scripts. But I'd done it I’d gone from beginning to 
end." 

According to the dictates of the times, Othello is 
not a role Stewarr should be playing. The character, 
a Moor from North Africa, is the lone black in the 
opulent society of Venice. And Stewart, who was 
tom in a tiny Yorkshire village, the son of a career 
soldier, is white. In another age, actors like Orson 
Welles and Laurence Olivier simply blackened 
their faces for the part. But in our post-civil rights 
era, that practice has been discredited. 

“It does seem to be one of the few works where 
racial separation runs through the play as an ab- 
solute. consistent current,” observed Jude Kelly, the 
British director who is staging the production at the 
Shakespeare Theatre. “To say that it doesn't matter 
who plays the role strikes me as a bit barmy.” 
Stewart, in fact, had pretty much given up any 

~ r. “I ft 


exi _ 

crime scene and ask him to do an analysis of it.” 

For all his apparent exhaustion, there is a curious 
elation to his mood. The night before, the 57-year- 
old actor had had his first full run-through of 
Shakespeare’s tragedy. It took six hours. He didn’t 
get home until well past midnight and by then his 
mind was reeling. 

But he’d finally had a real taste of what it was like 
to be Othello, a character he has yearned to portray 
since he was 14. For the first time, he had gone the 
full distance, from the exultation of love to the 
darkest reaches of jealousy and despair. 

"You have to throw yourself at something like dreams of portraying the tormented Moor. ‘Tfelt a 
that.' * he says. “You can’t hold back and can’t say, certain irritation at having been caught in this bind 
TU try that tomorrow.’ It's got to be now. As I was of political correctness,” he says. “But whenever I 
coming home in the cab last night, my bones ached imagined myself grandiosely trying to take on the 


characteristics of a North African, I thought, 
no, 1 can't do that.” 

Then, several' years ago — he’s not sure 
how — an idea struck. Couldn't the colors be 
reversed? What if Othello were white and the 
Venetian society that hails and then rejects 
him were black? Nothing about the work 
would have to be altered and the role could be 
his after all From that brainstorm has since 
sprung what Kelly has dubbed a “photo 
negative” production. 

“I don’t think we’re trying to make any 
more major a point than Shakespeare himself 
was trying to make,” Kelly says. “We’re just 
making it differently. What’s fascinating for 
me is that you have 22 African American 
actors onstage who know what racism is about, 
and one white British actor who may know the 
effects of racism but has never experienced it 
the way they have. So the images of racial 
hostility flip back and forth. What it all means, 
I think, will depend very much on the color of 
the person who’s watching.” 

For Stewart, Othello may be the boldest 
attempt yet * ‘to step out of the space suit,' ’ as 
he puts it. He was a well-regarded member of 
the Royal Shakespeare Company when he 
landed in “Star Trek” in 1987. But seven 
years as Captain Picard have put his face in 
world’s pop culture gallery. 

"For a lot of people, I will be locked for all time 
on the bridge of the Enterprise in my space suit,’ * he 
said. “Not only am I reconciled to that. I'm quite 
proud of it." 

Before the television series came to an end in 
1994, however, Stewart had already set out to 
diversify his image. His first effort in 1991 was a 
one-man version of Dickens’s “A Christmas Car- 
ol,” in which he played 39 different characters on a 
bare Broadway stage — children, women, spirits 
and Scrooge. “I had a friend who said I actually 
played the goose at one moment, but I have no 
recollection of that," be noted dryly. He followed 
that tour de force by performing die aged Prospero 
in 4 ‘The Tempest" at the New York Public Theatre, 
a production that also ended up on Broadway. 

As a flamboyantly gay interior director in the 
motion picture “Jeffrey,” he switched gears again, 
and his latest role, Captain Ahab, the crazed filler 
of white whales in a coming four-hour TV min- 
iseries of "Moby Dick,” couldn't be farther from 
the reaches of outer space. 

“I guess the point has been made. I've put as 
much distance between me and that space suit as I 
can. Perhaps I can relax a little bit now,” he said. 


T HE Mexican Nobel laur- 
eate Octavio Paz spoke 
on national television to deny 
rumors of bis death. “ The art 
of dying is the art of playing 
hide and seek,” he said by 
telephone on Mexico's Tele- 
visa network. ‘ ‘It is one of the 
most delicate and difficult 
games, so you have to know, 
now to play if well.” The' 
rumor of his death had been 
carried by a European news 
agency. “It pains me that 
those who insist on killing me 
are in such a hurry,” the 83- 
year-old poet joked. Paz has 
been suffering from an un- 
disclosed illness. He said that 
he was feeling better but that 
his disease was a “long and 
wretched” one. Mexican new; 
front-page stories on the inci 



knot FnmWVm- 

Astrid Lindgren and Birgitta Dahl in Stockholm. 


carried 
it, including 
one in the Mexico City daily La Jornada under 
the headline “Learn to Smile.” 


an attorney for DreamWorks. Barbara 
Chase-Riboud is suing the studio for at least 
$10 million, alleging that it lifted characters 
and scenes for the movie straight from her 
1989 book, “Echo of Lions.” Like the novel, 
“Amistad” is based on a revolt on a Spanish 
Paul McCartney’s boyhood home will be slave ship in 1839. Fields said the screenplay f 
n ro die public next summer after a face- was based on another book and was written ' 

with the help of numerous historians. 


□ 


open to me pu 
lift by the National Trust. Don’t look for 
marble floors or gilded ceilings, says die trust, 
the keeper of some of the grandest homes in 
Britain. The small two-story row house in 
Liverpool stands among similar unremarkr 
able houses on Forthlin Road. The Beatles 
composed and practiced some of their earliest 
songs there until 1964, when the McCartneys 
moved out 

n 

Kelly Preston has won a court order to 
keep away a man who wrote her a letter 
containing sexual innuendo and references to 
her husband, John Travolta. A judge in 
Miami ordered Joseph ChefTo 3d, an aspiring 
comedy writer, to stay 500 feet away from the 
actress despite his contention that the letter 
was a satirical joke that backfired. Preston 
testified that she broke into tears when she 
read the letter. Asked whether he would obey 
the order, Cheffo said, “Of course.” 

□ 

Steven Spielberg’s studio says a novelist is 
trying to sink the movie “Amistad” with a 
bogus claim that DreamWorks 5KG stole 
from her book about a slave ship rebellion. 
“This lady is essentially claiming she owns a 
piece of American history.” saidBert Fields, 


□ 

Astrid Lindgren, who wrote the children's 
classic “Pippi Longstocking." received a vis- 
it at her home in Stockholm from Birgitta 
Dahl, the speaker -of the Swedish Parliament, 
to commemorate Lindgren 's 90th birthday. 
The birthday itself was on Oct 14, and Lind- 
gren celebrated it privately. 

□ 

Robert F. Kennedy Jr. and his wife, Mary 
Richardson, have a new son, William Fin- 
bar Kennedy. The baby is the couple’s' third ^ 
child. Kennedy also has two children from his - 
first marriage, to Emily Black. 


Alfred Hitchcock has long been revered as 
an innovative genius in filmmaking, but few 
people recognize the contributions of his wife, 
Alma Reville, who worked with him on al- 
most every aspect of his movies. Pat Hitch- 
cock O’Connell, their only child, was de- 
termined to remedy that and honor both her 
parents, and she tuts created the Alma and 
Alfred Hitchcock Endowed Chair at the Uni- 
versity of Southern California School of 
Cinema-Television. 



in the springtime. 


Every country has its own AT&T Access Number which 
makes calling home or to other countries really easy. 
Just dial the AT&T Access Number for the country you're 
calling from and you’ll get the clearest connections 
home. And be sure to charge your calls on your AT ST 
Calling Card It’ll help you avoid outrageous phone 
charges on your hotel bill and save you beaucoup de francs 
(up to 60%*). Check the list for AT&T Access Numbers. 


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Stqetofeflovferoey 
caffiug worldwide 

]. Just'did the AT&T Access Number 
fix the county you ate calling from. 

1 Dial the phone number jou’re calling. 

3- Dtaldie calling card number lined 
show your rwme. 


AT&T Access Numbers 


EUROPE 

Anstrtawo... 

B224&411 

Balgtmn* 

turo-ioo-io 


.0-880-99-8811 


0130-0010 

SrtWO* 

80-000-1211 

tretawto.. 

1-8W-550-900 

itihr* ~ 

iTMtn 

Nefefteste* 

08SS-022-9111 

RbssI>**(Moscm)i .. 

755-5642 

Spate. 

.908-99-08-11 

Swedan 


Swttmriaul* .. . .. 

0880-88-0611 

IMted Kostin* - 

.(600-89-0011 


oaotHHHnii 

KIDDLE EAST 

Ewpt*(Calro)T 

5184200 

Sand... 

-177-10-2727 

Sndl Anbfo* 

1*808-10 

AFRICA 

SttBS 

8191 

umma..- 

.0-800-99-9123 


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