Skip to main content

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

See other formats


INTERNATIONAL 


i 



The World’s Daily Newspapei 


PUBLISHED WITH THE NEW YORK TIMES AND- THE WASHINGTON POST 




Paris, Friday, November 21, 1997 



TON P( 


No: 35,684 



Clinton to ‘Wait and See’ 
After Iraq Backs Down 


By Francis X. Clines 

Mn* York Tones Service 


■ i • ftwr L»olhnV P it* 

Coffins of Swiss victims of the Luxor massacre lined op in a Znrieh airport hangar after a flight from Egypt 

For the Swiss Mourners, No Answers 


By Alan Cowell 

New York Times Service 


ZURICH — Now fee questions be- 
gin. . 

In the land that reaped the most 
-._^jTora the massacre of tourists in Luxor 
in Monday, when 35 Swiss were among 
5 8 foreigners lolled, the bereaved 
"burned Thursday to the riddles that con- 
xont them: What to do about children, 
eft with grandparents while their moth- 
~'xs and fathers went on vacation in 
‘Egypt, only to be shot to death or 
Mf/f vounded; how to explain inexplicable 
— Jestinies when no clear picture of each 
ividual killing has emerged? 

“We find no answer to our ques- 
tions,” a Protestant cleric, Walter Mei- 


■ been, - ” the pastor told die mourners. 

Take die survivors of Doris and Sarah 
Mntti: According to friends, who spoke 
in retain for anonymity, 16-year-old 
Sarah and her mother, who helped man- 
age a casino at Baden, just northwest of 
here, took a vacation together in Luxor 
to reward die teenager for doing well in 
a new job at a travel agency. 

Bom, said Roberto Scheuer, the 
casino manager, were among die dead 
whose c offins iay at the airport. 

But the puzzle among family mem- 
bers was why their bodies had been 
found so far apart in Luxor when they 
had been traveling together. The ques- 
tion was particularly painful since Swiss 
news organizations have earned stories 


quoting survivors as saying some young 
women were raped. 

“There are so many stories and we 
cannot tell what is true and what isn’t 
iroe,” Mr. Scbener said in a 
interview. 

Then there was the 7-ihlmann family 
in Basel. Bruno Zihlmann, 29, a frontier 
guard, and his wife Maria, 32, decided 
po the spur of the moment to take ad- 
vantage of a last-minute offer from a 
tour agency for a cheap, one- week hol- 
iday in Luxor. They left their children, 
10 and 3, with grandparents, according 
to newspaper accounts. 

On Sunday, a day before the mas- 

See VICTIMS, Page 12 


WASHINGTON — With a “wait 
and see” edge of wariness. President 
Bill Clinton welcomed Saddam Hus- 
sein’s decision Thursday to back down 
and allow United Nations inspectors to 
resume (heir search for weapons of mass 
destruction in Iraq. 

“Saddam Hussein must comply un- 
conditionally with die will of die in- 
ternational community,” Mr. Clinton 
said as die administration em pharimri 
that its full Gulf military buildup would 
proceed as previously announced. 

“hi the coming days we will wait and 
see whether he does, in fact, comply,” 
Mr. Clinton said in brief remarks before 
a White House ecumenical breakfast 
In Baghdad, the state radio issued a 
statement after a meeting chaired by 
President Saddam, announcing: “Iraq 
has accepted the return of UN Special 
Commission inspectors, including 
Americans.” 

It was Iraq’s sadden barring of Amer- 
icans on these inspection teams earlier 
this mouth that precipitated the crisis 
and fed fears of another military show- 
down with President Saddam, who ac- 
cused Washington of using American 
inspectors for espionage. 


His announced retreat, while easing 
global tensions, was immediately fol- 
lowed by questions of whether Iraq 
might have won some secret concession 
or understanding through Mr. Saddam’s 
gambit of openly challenging fee terms 
of his defeat in fee Gulf War in 1991. 

“There is absolutely no understand- 
ing.” Samuel Beiger. President Clin- 
ton's national security adviser, insisted 
at a While House briefing. “There’s no 
deal. There’s no concessions.” 

Mr. Saddam has sought to ease the 
UN’s crippling economic sanctions and 
to speed an end to fee UN’s on-site 
weapons inspection process. 

Russia, which helped negotiate the 
]i retreat, has expressed some sym- 
ay for that country, but Clinton ad- 
ministration officials insisted there was 
no alteration of fee terms of the in- 
spection process. 

Ad minis tration officials took care to 
hail a “step in the right direction,” 
rather than a full resolution. 

“This is not over,” said Mr. Berger 
as U.S. ships and warplanes continued 
on their Gulf missions. “We have to 
maintain fee two-pronged strategy 
we’ve been pursuing. ' 

Mr. Clinton was equally guarded in 
reacting to Mr. Saddam’s announce- 
ment, saying, “The United States must 


Accord’s Easy Test: Will It Wbrk? 


By Joseph Fitchett 

International Herald Tribune 


PARIS — The test of the accord with 
Iraq is starkly simple: Will United Na- 
tions monitors succeed in uncovering 
and neutralizing weapons of mass de- 
struction still hidden by Iraq? • 

Only time will tell whether the UN 
group can finish the job. In that sense, 
fee confrontation may not be over. 
Washington insists that it is keeping its 


options open to deal with further Iraqi 
dissembling. 

Even so, fee outlook fra- permanently 
defan ging Iraq seems darker than h did 
two weeks ago, according to Western 
officials and Arab diplomats in Wash- 
ington, London and Paris. Despite the 
new unity on fee Security Council, 
which is designed to convince President 
Saddam Hussein that he overestimated 


See ACCORD, Page 12 


r, told mourners early Thursday in an 
Aircraft repair hangar at Zurich's main . 
liiport. 

Thirty-six carved wooden coffins, 
ontaining 35 Swiss and an unidentified' 

xeign -resides! 

wee roWs of 12. garlanded vrith 
/reaihs, against fee incongruous back- 
of a Swissafrjumbojirfv**"^^* 
tenance. • • 

We still cannot understand what 
ppened,” Mr. Meier told some 200 
ily mraibexs. “In us there are fear 
pain: all feat is in our hearts. There 
only fear and pain, in us andsound 


After fee ceremony, the relatives 
ved cautiously among the rows pf 
edring their dead in a prelude 
, ) fee formality of identifying fee bodies 
‘"hursday. 

“Nothing again will be . as it has 


AGENDA 

Greenspan Warns 
On Social Security 

WASHINGTON (NYT) — Alan 
Greenspan, chairman of fee Federal 
Reserve, urged Congress on Thurs- 
day to act quickly to fix the looming 
problems m Social Security, saying 
the political and economic diffi- 


deficit in the program’s 
will only grow as time passes. Mr.* 
Greenspan has long used his plat- 
form at the Fed to warn of fee 
problem’s urgency. 



_ Page 9. 


... Page 7. 


- Pages 8-9. 

Sports 

....Pages 22-23. 

The bttermarkBt 

Pages 4, 14. 

1 The IHT on-line 

w.v'.v. mt.corn | 


I The Dollar K 

NewYw* 

Thundw«4PW 

piwtooBdOM 

DU 

1.741 

1.7323 

Pound 

1.6882 

1.601 

Yan 

126.03 

12&825 

FF 

15615 

5.798 

HP 

Tmnsterdo*® 

pwwrus 

+101.87 

7826.61 

7724.74 

1 9 , 8 . P 500 B 


thus** ® 4 PM - 

pradouidow 

+14.41 

959-00 




.. . . i • , . , 

DES MOINES. Iowa — The 
i^nFj/Th^WirffVmg septupled 
were in sferiPus conditiOn on Thursday 
but were beating, fee odds against sur- 
vival after the rare multiple birth on 
Wednesday. . . 

-fowaMcfeodist Medici Center re- 
ported in the Condition of 

ilifcfour boysandferee^irls, described 
by theff^rear-grahdaiGfee? as looking 
super* v 'i, * * ’- • 

AH Vrac^riventilatt^s ro help them 
breathe^ but-no -info rmati on was re- 
leasecf on specffic' medical problems 
any of fee seven might be facing. 

Their parents, Bobbi McCaughey, 
29, and her husband, Kenny, 27, had at 
least one burden lifted from them when 


.fova’s governor, Terry Branstad, an- 
nounced that a group of businesses 
would build die family a new, large 
home to replace die modest two-bed- 
room house in which they now live in 
Carlisle, Iowa. The family was also 
showered wife gifts such as diapers 
and groceries. 

But Mr. McCaughey cautioned that 
. the couple was determined to raise the 
babies “in a normal, Christian home” 
and their lives would not be turned into 
“a big show.” 

"We’re not here on display,” be 
said. 

The pregnancy had captured world 
attention as both a symbol of the ul- 
timate scientific mintele and a cau- 
tionary example of fee unwanted con- 


sequences of fertility treatments. Mrs. 
McCaughey had taken one of several 
fertility drugs being used by an in- 
creasing number of couples trying to 
concave. 

Many doctors and medical ethicists 
had expressed concern that a success- 
ful pregnancy might lead people to 
believe that multiple births were de- 
sirable and safe. 

' Some experts stressed feat more 
needed to be done to avoid fee multiple 
births that can occur with fertility treat- 
ments. 

The four boys and three girls are 
only fee second known set of septuplets 
ever bom alive and if they live, would 
be fee first ever known to survive. 

“The size of fee babies is won- 


derful,” Dr. Paula Mahone, who 
helped deliver them by cesarean sec- 
tion! said in a television interview. 
“Each weighs in a normal range for 
babies this age, which is virtually un- 
heard of!’ in a multiple pregnancy. 

The babies’ deeply religious family, 
who had rejected suggestions to abort 
some of fee fetuses to give fee others a 
better chance, rejoiced. 

“I would ask feat all believers across 
fee worid join us in praying for Bobbi 
and fra fee babies that their health will 
continue and only improve,” the ba- 
bies’ grandfather. Bob Hepworth, said 
as he announced fee births. 

Mrs. McCaughey is a seamstress 

See SEVEN, Page 5 


Seoul Asks Tokyo for Aid 
To Avert Economic Crisis 

Finance Chief Also Hints of Approach to IMF 


By Nicholas D. Kristof 

New York Times Service 

SEOUL — Wife South Korea tee- 
tering on a financial precipice, fee gov- 
ernment swallowed its pnde Thursday 
and pleaded fra assistance from its an- 
cient enemy, Japan, to avert an eco- 
nomic crisis feat could rock all erf Aria. 

In another sign of fresh humility. 
South Korea’s newly appointed finance 
.minister also acknowledged the pos- 
sibility that the country — a major in- 
dustrialized economy for larger than 
Thailand or fee other Asian countries 
that have tripped in feepast few months 
— might eventually need to turn to fee 
International Monetary Fund for a bail- 
out But lie continued to insist feat such 
a step was unnecessary for now. 

Delivering aharsb verdict on the coun- 
try's new “stabilization plan,” investors 
sent South Korea’s currency plunging 10 
: percent, fee-maximum allowed in rate 
. day, to. a record low of 1,137 to the U.S. 
dollar, while stocks fell 2.8 percent. 

. Finance Minisira Iim Chang Yuel, on 
his -first full day cm fee job after his 
predecessor Was dismissed, asked over- 
seas banks to roll over loans and neigh- 
boring gen/emments to extt^ assistance. 
He noted fee dangers if they did not 


“If Korea, fee 1 1 fe-lareest economy 
in fee worid, is dragged into a pre- 
dicament similar to that of Southeast 
Asia,” Mr. Lim said at a news con- 
ference, “it isvery likely to setoff even 
more serious repercussions on not only 
its major trading part ne r s but rat the 
entire world economy. ” 

Asia’s difficulties suggest that maybe 
there was something to the old 41 ‘domino 

See KOREA, Page 5 * 



Kim iar HwaVAjpcocc fance-Preme 

The Korean presidential contenders drinking coffee Thursday before a 
debate. From left, Rhee In Je, Kim Dae Jung, and Lee Hoi Chang. 


r emain and will remain resolute in our 
determination to prevent him from 
threatening his neighbors of fee world 
with nuclear, chemical or biological 
weapons.” 

■ Use of Force Avoided 

Steven Erlanger of The New York 
Times reported earlier from Geneva: 

With fee apparent reversal of course 
by Iraq and its agreement Thursday to 
let all UN weapons inspectors return, 
fee United States, wife Russia’s crucial 

See IRAQ, Page 12 


Americans 
Abroad Face 
ARisingRisk 
Of Terrorism 


By Brian Knowlton 

International Herald Tribune 

WASHINGTON — When fee State 
Department issued a “worldwide cau- 
tion” on Wednesday to Americans trav- 
eling or living abroad because of fee 
heightened possibility of terrorist vi- 
olence, it was fee fourth such alert is- 
sued in only two months. 

More warnings can be expected in 
coining months, experts on terrorism 
say. Because of a confluence of events 
and fee approach of die year-end hol- 
idays, when travel hits a peak and ter- 
rorists often have strode, travelers would 
be ill-advised to become complacent, 
particularly in Pakistan and parts of die 
Middle East, these experts say. 

Making matters worse, some terrorist 
groups have shown a longer reach than in 
fee past Recent attacks also reflect a new 
taste for revenge against U.S. interests. 

The three earlier State Department 
warnings cited heightened risks to 
Americans abroad following fee con- 
viction ofRamzi Ahmed Yousef in con- 
nection wife fee terrorist bombing of fee 
Worid Trade Center; fee murder con- 
viction of Mir Aimal Kari for fee 1993 
shootings outside CIA headquarters; 
and the tssqance Oct. 8 of fee annual list 
of foreign terrorist organizations. 

The Kasi and Yousef cases were cited 
in the alert Wednesday, along wife fee 
killing of four Americans in Karachi, 
Pakistan, Nov. 12 and fee terrorist at- 
tack Monday in Luxor, Egypt. 

. Although none of fee 58fraeign tour- 
ists killed at Luxor was American, fee 
Islamic Group, which claimed respon- 
sibility, demanded die freedom of 
Sheikh Omar Abdel Rahman, who was 
convicted in fee United States in 1995 for 
plotting to bomb New York landmarks. 

The police in Karachi said they sus- 
pected an extremist group called Harkar 
ul Anasar was seeking revenge for the 
life sentence imposed in Vir gini a on Mr. 
Kasi. 

The Karachi attack came a day after a 
State Department warning feat cited fee 
Kasi conviction. 

Threats were also made against 
American interests in Malaysia. 

“It’s almost a throwback to earlier 
times, when there was a retaliation after 
each American action,” said Frank 
McGuire, a consultant and author on 
terrorism. 

“This sort of thing seems to be back 
wife a vengeance.” 

Middle East terrorist groups like 
Hamas, Hezbollah and fee Islamic 
Group, which is also known as Jamaa 
Islamiyya, appear increasingly able to 
reach for beyond their home bases. 

See WARNING, Page 12 


For Man Who Would Be Chancellor, Hint of Turbulence 


By John Vinocnr 

indfnedmud Herald Tribune 


BRAUNSCHWEIG, Germany — 
This twaS'Uot a great day on Gethaxd 
SchroedecTs once smooth ride toward 
becoming-'' Germany's first Social 
Democratic chancellor in 15 . years. 
After a morning in Bonn, he wound up 
here in a converted aircraft hangar, wife 
100 or so .of the country's aerospace 
officials, and drafts damp enough to 
launch 1,000 chest colds. - 


‘I’m going to make this short and 
~ Mr. Schroeder told his audi- 
ence, seeming to expect at least mild 
laughter or applause. He waited a beat, 
sampled- fee silence, and moved on to 
joking wife fee aerospace people about 
now be didn't like flying very much. 

. Moments later, wife assarances for ■ 
fee group about its importance in his 
view of Germany’s future, fee candidate 
slipped into getaway mode, promising 
the guests that they could have a lot of 
fun in Braunschweig — although, be 


said, sounding amused, in “a specif- 
ically reserved North German kind of 
way.” 

Handshakes, back pats, and gone, 
heading for to Hannover, 40 minutes 
down the autobahn, where he lives as 
Social Democratic leader of fee state of 
Lower Saxony. Finally, dinner close to 
home- in a favorite restaurant, some 
white, wine and two different plates of 


But the day had brought a problem, 
from a distance, it seemed fee first very 


palpable bit of trouble, a potential blot in 
mood and texture, on a campaign feat 
appeared almost charmed in its faultless 
progress, wife fee latest personal pref- 
erence polls giving Mr. Schroeder a 56- 
to-34-percent lead over Chancellor 
Helmut Kohl. 

Althougb'the connection was not his, 
Mr. Schroeder’ s sudden slice of dif- 
ficulty provided a glimpse of the battle 
wife immobility fear is at the center of 

See GERMANY, Page 7 


indona. 




*■* — tJSocfa iao0 95 

-ffisgflS 5Sl-«w 

ranee..- | 2 SbU... 1 . 100 C» 

iabon... — 1.100 CFA ^ptss 

aly _MDU» SSri^iJSODh 

«*y Coast. 1.250 CFA JJJ* 10.00 Dh 

waan 1250 J® ,,c ml 



of Italy’s Truffle Hunters Is Fatal to Canines 


By Richard Boudreaux 

Los Angeles Times 




CITTA DI CASTELLO, Italy— The wooded 
hills of the Upper Tiber Valley, now swathed m 
nay mist and gold foliage, have a lot to hide, . 

Triifftes, one of the world's most expensive 
de licacies, grow wild rat the buried roots of some -, 
oak, willow, hazelnut and poplar trees here- Fmd- 
jjjg and unearthing fee rare fungus is a ritual 
drat rewards the diligent hunter and his essential 


companion, the doe wife fee well- trained nose. 
- This season fee forest is yielding its delicious 
prize bat withholding a dark secret: Who is poi- 
soning all the truffle dogs and turning die aut umn 
hunt into a slaughter? 

Since the hunt started Sept "28, at least 40 dogs 
have died from eating meat morsels that were laced 
wife strychnine or weedkiller and dropped in the 
woods, according to dog owners, veterinarians and 
forestry service workers in this comer of Umbria, 
180 kilometers.(l 10 miles) north of Rome. 


No killer has been caught or accused. But every- 
one in these woods, which cover 2,600 square 
kilometers (1,000 square miles) and are public 
property of eight hill towns, believes the dogs are 
victims of an undeclared war among some of the 
valley’s 1.833 licensed truffle hunters. ■ 

“The more truffles you can find, fee richer 
you’re raring i°get» so if your dog is better than my 
dog at finding truffles, then let s get rid of your 
dog,” said Malcolm Holliday, president of fee 
Anglo-Italian Society for fee Protection of An- 


imals. “This is exactly what's behind it — 
mentality.” - 

Malicious poisoning in die pursuit of trafl 
not new in rural Italy, but Mr. Holliday and 
veterinarians here said never have so many 
died in one season. 

. Dog poisonings are hot officially record e< 
no one in authority can recall more than 20 

entire year in this valley, and many of those d 
See TRUFFLES, Page 12 


i 




1 INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 




PAGE TWO 





Anniversary Day / Monarchy for a 'Young Country' 


Reparkaging Britain ’s Royal Product 


By Suzy Menkes 

International Herald Tribune 


L ONDON — The new- logo is the re- 
stored Windsor Castle, flags flying. 
The packaging is the way you see it on 
the postage stamps: a stolid couple, 
just like us, give or take her tiara and his 
chestfbl of medals. But w31 the public buy the 
rebranded monarchy, so warmly endorsed on 
Thursday by Prime Minster Tony Blair, but 
still missing that one vital ingredient that put it 
into a different product category: Diana, Prin- 
cess of Wales? 

The crowds who turned out in the Stygian 
gloom of a drizzly November day to greet 
Queen Elizabeth n and Prince Philip at West- 
minster Abbey were warm-hearted. But they 
were as sparse as the receding hairlines of 
aged, European royals who tumbled out of a 
tourist bus to attend the golden wedding an- 
niversary service. Compared to the heartfelt 
outpourings from the public on Diana's death 
11 wfceks ago — the lavish flowers, the teddy 
bears, the mawkish messages — the timid 
bouquets seemed redolent of an older, tight- 
lipped, undemonstrative Britain. Queen Eliza- 
beth greeted the crowd with a pleased smile, 
but it was not even like the joyous celebration 
of street parties and bunting that marked her 
Silver Jubilee in 1977. 

How could it be? 

You didn't have to see Prince William 's 
bowed head throughout the religious cere- 
mony to be reminded of the last time the royal 
family — and a global audience — were 
gathered at the Abbey. For all the closing of 


Es tabU shmen tranks and the unstiffening of the 
royal speeches, allowing for a whiff of per- 
sonal warmth and wit. Queen Elizabeth her- 
self, replying to Mr. Blair, cot to the kernel of 
the problem when she said that “50 years of 
mass media has transformed our lives.' 7 

Diana was the only media-savvy member of 
the royal family since the Queen Mother, who 
soldiers on at 97, in her role of glorious gran in 
feathered haL Inside the royal family, Diana 
was England's rose. Outside, she was the mon- 
archy’s perpetual thorn. Without her, the image 
of royalty is just plain dull — a dumpy, dowdy, 
worthy monarchy, of parochial interest, but no 
longer with any international resonance. 

Even the latest firecracker from Fergie, who 
snubbed the royal ceremony because it wasn’t 
worth Concord-ing in from America when one 
was not invited to a free royal lunch, failed to 
knock a Spice Girls story off the front page of 
The Sun newspaper. 

Mr. Blair rebranded Queen Elizabeth's con- 
tribution as “duty leading to service'’ — and 
that will strike a chord with the generation that 
made their sacrifices in the war and understood 
that as a young wife and mother. Princess 
Elizabeth sacrificed herself, and maybe her 
family’s equilibrium, on the altar of monarchy 
at the age of 25. Her current and 10th prime 
minister, who reminded her at the “people's 
lunch’ ' he hosted that he was bom in the year 
of the 1953 coronation, paid generous tribute 
to Queen Elizabeth's role as head of the Com- 
monwealth, to her sound advice and to her 
“down-to-earth dignity." He also said that, 
although be had made much of Britain being 
“a young country," he believed that mod- 


ernity and tradition could “live happily to- 
gether" because “the best of modernity builds 
on tradition.*’ 

With the restoration of Windsor Castle, 
Monarchy PLC has had a golden opportunity to 
burnish the brand. Even those who prefer Con- 
ran sofas to gilt and plush have been proud to 
discover that “heritage” can mean young ;• 
craftspeople working in traditional skills to a g 
supreme standard, rather than prints of Bal- 
moral Castle on tea towels. 

Bnt if you were the monarchy's marketing 
manager, you might have advised against cel- 
ebrating the reopening of the premises with an 
old-fashioned bash. 


P ERHAPS on the advice of Mr. Blair, 
out of genuine discretion or in a de- 
termination to grab back ‘ ’what is left 
of private life," as Prince Philip de- 
scribed it in a speech at the Guildhall on 
Wednesday, the ball is a full-on royal affair — 
but strictly behind closed doors. 

“It was the queen’s decision — there is 
plenty of material for public consumption, and 
this is a friends and family occasion,” Geof- 
frey Crawford said, speaking for Buckingham 
Palace on Thursday. 

The royal ball sums up the conundrum of 
monarchy and its image for the new millen- 
nium, when Queen Elizabeth seems likely to 
celebrate her 50 years on the throne in 2002. 
Other European monarchies use such crown- 
jewels partying as a photo opportunity to mark 
rites of family passage. 

Recent events have included anniversaries 
among the Scandinavian royals and a wedding 



.UapcMrd 


Queen Elisabeth herself got to the kernel of the problem when she said 
that '50 years of mass media has transformed our lives.* 


in Spain. After die dire marriage record of the 
Windsors and the death of Diana, it may be 
inappropriate for the royal family to celebrate 
publicly. 

But is it appropriate or “modem” to swap 
horse and carnage for bus or car? 

Will the same people who waited in line to 
view Diana's glamorous dresses respond well 
to a business-suit monarchy? Where’s the tour-- 
ist pull in sobriety? 

No one yet knows whether a Blair-stylc 
rebranding of the royal family can be achieved 
in the present queen's lifetime, or whether 


reform within die institution could do the nick. 
But what the monarchy has going for it is its 
capacity to remvjgorate itself with a change of 
generation.. 

No youth-oriented marketing campaign or 

Sc- An ffVT thft 



rang ponce in search or a bnae. 

Then the cycle of hope and enthusiasm that 
■b egan in 1947 when the young Princess Eliza- 
beth wed her- prince charming may erase the 
memory of the other royal fairy tale with a 
.tragic ending. 


t 

■r* 


Women’s Heart Risk Tied to Kinds of Fat 


By Jane B. Brody 

New York Times Service 


NEW YORK — The kinds of fats con- 
sumed, not the total amount of fat, determine 
a woman's risk of suffering a heart- attack, 
according to the first major study of the effects 
of all dietary fats in women. 

The 14-year study, of more than 80,000 
nurses, highlighted two types of fats as the bad 
actors in heart disease: saturated fats, found 
mainly in meat and dairy foods, and tram fats, 
found in most margarines, commercial baked 
goods and deep-fried foods prepared with 
hardened vegetable oils. 

The research, which documented 939 heart 
attacks, fatal and nonfataL among the par- 
ticipants, is the latest in a series of studies that 
have sought to define more carefully the ef- 
fects of -diet on heart disease. The earlier 
research focused mainly on saturated fat, cho- 
lesterol and total fat intake as the chief dietary 
factors. The new findings, in contrast, confirm 
and extend those from a report, published four 
years ago and also based on this study of 


nurses, about the risk of tram fats. 

When the researchers took into account 
other influences on coronary risk like 
smoking, tram fats stood out as the most 
serious problem. Among the women who 
consumed the largest amounts of trans fats, 
the chance of suffering a heart attack was 53 
percent higher than among those at the low 
end of tram fat consumption. 

But women in the group with the largest 
consumption of total rat (46 percent of cal- 
ories) had no greater risk of heart attack than 
those in the group with the lowest consump- 
tion of total rat (29 percent of calories). 

The researchers, from the Harvard School 
of Public Health and Brigham and Women’s 
Hospital in Boston, said this suggested that 
limitin g consumption of tram fats would be 
more effective in avoiding heart attacks than 
reducing overall fat intake. 

The authors said they believed that their 
finding would apply to men as well as to 
women. 

But some otter experts pointed out that the 
study had not examined die effects of a diet 


any lower in fat than 29 percent of 
calories, and said they would con- 
tinue to recommended that people 
reduce total fat 

Currently, about 5 to 10 percent of 
the fat in American diets is tram fat 
which is produced when vegetable 
oils are artificially hydrogenated to 
increase their firmness and resis- 
tance to rancidity. 

Liquid vegetable oils, including 
olive, canola, soybean and com oils, 
are free of trans fat 

Like earlier research, the new 
study found that polyunsaturates, 
which are highest in safflower, soy- 
bean, com and sunflower oils, could 
lower ‘coronary risk even below nor- 
mal levels, and that monoumatur- 
ates, most prominent in olive and 
1 canola oil, had a small benefit 
The study was published in the 


Good Fat, Bad Fat 


A 14 -year study found that increased consumption of 
saturated and trans fat Increased the risk of heart cfe- 1 
ease. Here is how the risk of heart disease 
after an increase in the consumption of various 
The risk was measured for an increase of 5 percentage 
points in daily calories derived from fat, except for trans 
fat, for which the Increase was 2 percentage points. 


+80% 



Saturated 
(Meat and 
dairy fats) 


Trims Mono- Poly- 

(Margarine, unsaturated unsaturated 

solid cooking fats (Olive and (Com, 

Bke vegetable canola oks) safflower, 

shortening) sunflower and 

soybean oHs) 

Source: New England Journal of Meddne 


Gunmen Kill a Jewish Student 
And Wound a 2d in Jerusalem 


HwNewYctfcThKt 


Thursday issue of The New England Journal cates of a low-fat diet to prevent heart disease 
of Medicine, but it had already generated and those who say a high-fat diet promotes 
extensive comment, especially from advo- obesity and soine cancers. T 1 


, The Associated Press 

■ JERUSALEM — Gunmen crouching behind a low wall 
sprayed two Jewish seminary students with automatic fire in 
an alley in Jerusalem’s Old City early Thursday, killing one 
and wo unding die other. 

The. assailants, believed to be Palestinian militant s- hit one 
student in the leg and pumped six more bullets into him as he 
lay wounded on the ground, killing him. The second student, 
who was seriously hurt, rah several hunched meters until he 
found Israeli border policemen and was taken to a hospital 

The shooting was likely to increase tensions between 
Israelis and Palestinians. It could also complicate renewed t 
U.S. efforts to break the deadlock in Israeli-Palestinian peace *- 
talks . Israel has said it will not make any concessions to die 
Palestinians until they make a more serious effort to fight 
terrorism. 

Prime Minister Benjamin Netanyahu said “the murderous 
a tank in Jerusalem is very serious and intolerable.'' Re 
convened key cabinet ministers and decided to set up another 
a roafl police post In the Old City and to increase patrols. 

Jerusalem's mayor, Ehud Olmert, a senior member of Mr. 
Netanyahu’s ruling Likud Party, demanded that Israel suspend 
pegcfejtalks with the Palestinians, which had only resumed in 
September after monthscof crisis. 



heritage of 
yesterday...today. 


Hotel Sofitel 


MnUNUILlNd 


IS Noo Quotji Snwr. Hwa 
Socialist RdiiutOi Viltxam. 
Ta . f8+-J 1 8^*6919 
Fax . (84.41 8.266920 
E-Mao. : Sufmct#BCtB»M>$.«n 


MEMORIAL 


Yvonne Muraefl, bn & Carol Ckuke, 
Jean & John Spccbier and families 
regret to announce the death of 

RALPH GERSTLE 
husband of die bee Hihiy Gcrsde. 
of Bermuda and Vermont, USA. on 
Thursday 13 November, 1997. 


The funeral service will take place 
the weekend of 22/23 November ar 
die Episcopal Church, Wilmington, VT 


See our 

Business Opportunities 

every Wednesday 
in The Intermarket 


TRAVEL UPDATE 


WEATHER 


Moscow Airport Eases Customs Eur °’ ie 


MOSCOW (AP) — In an effort to simplify customs pro- 
cedures, officials at Moscow’s Sheremetyevo International 
Airport have stopped asking passengers leaving Russia to 
declare their cash, the daily Moscow Times reported Thurs- 
day. 

Only those carrying more than $500 in cash would have 
show a bank document certifying the cash's origin, under rules 
introduced this week in an experiment that will run through the 
end of January. 


An outbreak of bubonic plague has killed 18 people in 
rural areas of central Mozambique, which is also fighting a 
cholera epidemic, health officials said Thursday. A spokes- 
man for the Health Ministry said 87 cases of the plague had 
been diagnosed over the past six weeks in the central province 
of Zambezia. Bubonic plague, transmitted by fleas that live on 
rats, can kill within 48 hours if not treated. (Reuters) 


Do you live in Austria, 
Belgium, Luxembourg 
or Sweden ? 


For inTormation about subscribing call: 
Austria 01891363 830 
Belgium 0800 17538 (toll-free) 
Luxembourg 0800 2703 (toll-free) 
Sweden 020 797039 (toll-free). 


rrt' 4 k nruftoin\ALg*i » a 

iicrala^a^fe^nbunc. 


THE WWW PUUf NEWSPAPER 





Have Stocks Topped ? 

Stocks Will Have a Bear Market. 

If you share (he opinion it's time (0 look et 
alternative investments call for my free 
currency trading information package today. 


SUPERIOR Selection of Managed Accounts 

OUTSTANDING Global Currency Analysis 
EXCEPTIONAL ExecuOon Forex or Futures 
MIN (HUMS 510,000 m $5,000,000 (USD) 

COMMISSION 2r5FX Spreads Futures S1ZS38 


Guide. Latest Research Reports 
cords Call (2& ho urn) Toil-Free. 


I Australia 1800125944 Belgium 080015880 
\CatoatUa 880120837 flMv* 80018132 
Franc* 0800902248 Greece 0800119213013 
HontKtmg 800087209 tamd 1771000102 
Jam 0031128800 Korea 0038110243 
Mexico 958008784178 Netherlands 060220657 
Portugal 050112832 Stagapara 8801202501 
900931007 Sweden 020793158 
IriwAmV MIMOIIKIKIJ USA 8009045757 


Bn& t 00081192155131 

Ffobrnd 080011100841 
Gcrwmuy 0130829668 
futh 187873928 
Luxembo u rg 01004552 

N. Zealand 0800441880 

SAfrica 0800096337 
StHnatatd 0800897233 
UK 0800968832 


US-Toll Voice Line +7 14-376-3020 US-Toll Fsk Line +714-376-6025 



Htah° d U>wW 

Tomonutv 
High LowW 


C7F 

OF 

OF 

OF 


16*1 

0)48 f 

14*7 

9)40 pe 


W46 

0743 sh 

7*44 

2*5 o 

Artonra 

.7*44 

4139 Ml 

10*0 

1*4 ( 

TUtMfO 

19*0 

12/63 pc 

17*2 

12*3 pc 

BwrstonB 

14*7 

9740 pc 

11/ffi 

0743 r 

B 

7744 

0732 pc 

W48 

2735c 

Berta 

0143 

0732 pc 

4736 

0*2 e 

Bn®®* 

0748 

5741 c 

7M4 

2735 c 

BudWM 

4739 

■2720 1 

307 

1*4 an 

Copenhagen 

am 

3737c 

4*0 

0*3 ril 

Casta Dal Sc 

16*1 

1 WSO r 

14/57 

7/44 a 


8740 

5/41 pc 

0748 

3*7 pc 

EfOnhurtfi 

10(50 

4738 ril 

7744 

307 ril 

naraiKS 

9740 

7144 r 

13*6 

7744 pc 

FnmUwl 

4499 

- 1*1 c 

3737 

-2720 c 

Gomva 

8743 

2/35 r 

7/44 

1734 pc 

HoWnio 

409 

-2728 [K 

1*4 

-4126 pc 

bfenOi4 

10701 

11/62 Ui 

9/40 

0743c 

Ktev 

1734 

■3*9 *ra 

1*4 

-2/29 m 

LosPolnaz 

24 m 

10*04 5 

23/73 

16*4 a 

Ustwin 

1M6 

7*44 r 

11*2 

MB c 

London 

1Q750 

Ml dh 

8)40 

1*4 ah 

UotSW 

11752 

7*44 r 

0(48 

-1731 pc 

Udkxca 

17*? 

10)50 pc 

10*1 

0743 r 

Mfcn 

6743 

3737 r 

•0)40 

205 pc 

ftaw 

1734 

-4725c 

-4/J6 

■6)10 0 

Mrrtch 

B746 

2735 ah 

0/43 

■02# on 

7*-J 

14757 

0)46 c 

13*0 

8746 / 

Osta 

3*7 

-3727 c 

3*7 

■1*1 e 

Pare 

10*0 

4/38 ah 

0741 

- 1*1 c 

Piagoa 

Ml 

2*51 

3*7 

■1*1 JO 


M3 

0)43 ril 

7744 

3(37 C 

FRga 

M7 

-1/31 e 

-1/31 

-4726 hi 

Roms 

13M 

6)46 pe 

15*6 

0/40 rit 

Sl Pwtmtan 

4138 

-S20 PC 

0*2 

■ 6122 a 

SMKxnoem 

6M3 

0)32 pc 

2/35 

■4726 pe 

Slra^JoiBg 

7M4 

4/39 r 

7744 

1*4 pc 

TaBnn 

4739 

■1731 pc 

1/34 

■4726 pc 

Tbft* 

17W 

7744 C 

17782 

8746c 

Varies 

7*44 

4*9 ah 

11/52 

307 pc 

Vtoma 

0743 

1/34 pc 

4*8 

- 1*1 e 

Wtaai 

3*7 

-2729c 

002 

-OBSe 

ZUWl 

6749 

3*7 r 

7144 

1*4 pc 

Middle East 

MwDhaU 

27*80 

16)01 a 

20/70 

15*6 a 

Beour 

21/70 

14*7 pe 

24/75 

16*1 pc 

Cano 

20770 

17*2 pc 

20/84 

■4*7 a 

Damascui 

10*6 

8/401 

23172 

0746 pc 


18764 

9/40 1 

23/73 

HHOa 

Lina 

31IB8 

11*0 i 

33701 

11*2 a 

Wywih 

sra 

12)53 pc 

2303 

1293 c 


Forecast for Saturday through Monday, as provided by AocuWsaltier. Asia 



wTToww 


North America 

Windy with rata Scaly along 
Ow Northeast coast Satur- 
day into Sunday; some 
snow Inland. Drying out, 
but bluslary and much 
colder Monday. Rain end- 
ing Saturday morning In 
the Southeast Saturday. 
Windy and turning odder 
Sunday and Monday. Nice 
In the Southwest with 
some sun. 


Europe 

A storm moving ecran the 
Mediterranean wffl bring 
soaking rakrfal to southern 
Holy and Greece Saturday 
through Monday. Dry but 
chHy Horn much of w es t e rn 
Russia Into eastern Scan- 
din ewia. Mainly dky In Lon- 
don with some sunshine, 
but clouds and rain will 
more Into batond-ty Mon- 
day. 


KomcH 
K. Luiwur 
K. Kksoeki 


Rain ending In Seoul Sat- 


urday. then «*y and odder 

“ id Mr 


Sunday and Monday. A 
soaking rain to Tokyo Sat- 
urday; windy and colder 
Sunday and Monday. Quite 
cold across southeastern 
Russia and Manchuria Sat- 
urday through Monday wBh 
soma snow and Hurries. 

weather to h store tar 
Bel 


NmUM 
Phnom Prinh 

P hM 


Vtafiona 


North A merica 

A mftorega 


W> 

OF OF 
a®7 -sore 
asm 2V70i 
saw grape 

12*3 -1/31 1 
Bonn 21770s 
23780 uraia 
31*8 10*4 c 
28)84 22771 r 
2s«M 23/73 pc 
sam arape 

27780 28)71 pc 
28777 6743 pc 
81*8 23773 pc 
2882 18*3 a 
31*8 22771 1 
2994 23773 f 
31*8 21770 s 
23773 0M8pc 
31*8 23773 pc 
am 23773 pc 
32*0 21/70 pc 
11*2 7744 r 

18*6 12*3 r 

2884 22771 r 
88*2 23773 ih 
IBM 17782 pa 
31*8 IQMB JIC^ 


Nigh LowV 
OF OF ‘ 
7*44 -3727 pc 
38*1 21770 pc 
81*8 23773 pc 
■M8 002 ■ 
3098 21 770 pc 
27180 1B*1 pc 
31*8 18*4 pc 
28*2 237731 
29*4 am c 
32*8 23773 pc- 

26778 aa*8c I 
25777 0743 » J 
31*8 23773 pcf 
2«*2 rams 

31*8 22771 r 
2*84 2373811 
28*4 21/70 pc 
23773 0/40 p 
31*8 23778 c 
31*8 23773 pc 
31*8 21770 pc 
12*3 2736c 
17782 940 pc 
20*4 22771 1 
28770 19*8 r 
21770 2008 r 
33*^10*8^ 


Legend: sorry, po-perty cloudy. c-etauey.sNehowws. Wa s sk B elm ii a . r-raki. e-snow Ountes, 
sneniK Hob. WMMaatosr. 


Hspa,tawwrt»sndd*aprcalitodbyaccU 9 *tobw,lnc.to 1 « 07 »liD Frt to — *ccu — Wh wxcni 


One of the few predictable 
elements of travels 


< lh^Jpadw^W(Helsofthd : WjTM^ 


. Over 300 of the World’s finest hotds 
in 68 countries. 


-1/31 -0722 sn 
18*1 8748 ah 

13)58 <U43 □ 

CNcego 4*0 -3727c 

DotoS 18*4 4*0 1 

Dsimr 10*0 -4*6 po 

Drtral 6743 -272S c 

Honolulu 25777 18784 s 

Houston 22771 Mi s 

LosAngetos -28770 13/56 pc 

Maroi sana asm pc 

HtonapicOs 0*2 -504 * 

Martnri 205 -8716 ri 

Il lHi U 20*4 23773 pC 

NtwYtfk 12*3 7744 c 

Oifendo 28732 17*2 pc 

RmMl 24775 0M8s 

San Flan. 21770 10*0 pc 

Swells KWD 7*44 rfi 

Tonrto 6*43 -2*8 a 

VsneauMr 11*2 Ml pc 


»20 -one an 
16*9 3)37 pa 
7)44 0B2sn 
6*43 -3127c 
8746s 
- 1*1 pc 
-8729 an 
19*6 pc 
6748s 
11*2 pc 

-ana pci 
■onseT 

22771 pc 

1734 r 

13766 pc 
13766 s 
11752 pc 
MS 111 
-6722 St 
10*0*1 
2736 sh 


14*7 

4*6 

27*0 

21770 

27*0 

28*3 

1/34 

-1731 

20*4 

8148 

24/78 

28*2 

18*4 

IMS 

3*7 

18784 


Latin America 


Africa 


Mgton 
Cape Tonal 


17*2 12*3 r 
14*7 7744 pc 
1MB OUST 
28*2 67481 
30*8 29773 ril 
28779 13*5(71 
19*4 12*3 pc 


18784 7H4r- 
15)56 6)48 pe 
10*1 6748 pc 

38*6 11*2 S 
31708' 24775 pc 
28*2 ISWpc 
23773 12)53 pe 


Your Host Today 

HOTEL EDEN, 
ROMEjTEALY 


BumsAku 26776 12/53 pc 
CMCtt 2002 '19*0 pe 
Ltna 22771 10*4 r 

MnfcoCty 23771 8/40 pc 

nodhtaiMfeo 27*3 22 m pe 
■ ' 26/77 6743s 


24/76 1366 rir 
26)82 2M6cfi 
23/78 16764 sh 
18*4 7/44c 
28782 28/73 pe 
23773 7744 a 


--.TTW, 


Oceania 

Auddmd 


Sydney 


10*1 764 po 

21/70 13166 pc 


14*7 10750 pc 
22771 10*li 




m. 


jet A two- 




*-** ’• n ■ : ■ ■ ■ ■ - ■ 4 J 


month trial subscription. 

Save up to 60% 


:/ I t 


r-' l 



Try a special, 

f° wcos t 

gjf jjpjk 2 -month trial 
subscription 
to the 
International 
Herald Tribune to enjoy 
delivery to your home 
or office every morning 
AND save up to 60 % 
off the newsstand price. 






A 


COUNTRY/CURRENCY 


2 MONTHS 
4EWSSTAND PRICE, 


2 MONTHS 
OFFER PRICE 


DISCOUNT OFF 
COVER PRICE 


DENMARK DKK 780 360 I 54°- 

FINLAND FIM 624 310 50°; 

FRANCE FF 520 210 i 60 r , 

GERMANY DEM 182 72 ' 60* : 

GREAT BRITAIN £ 47 22 j 53 c ' ; 

HONG KONG HKS ' 676 234 57 

ITALY ITL 145,600 53.000 I 60 3 : 

JAPAN ¥ ; 26,000 12,150 ' 53^ 

MALAYSIA RM i 1S2 101 • 44'. 

NETHERLANDS NLG : 195 ’ 73 b0% 

NORWAY NOK : 832 ; 390 53'% 

SINGAPORE SS 146 ^ 32 43 : , 

SPAIN PTA5 11,700 i 5.000 • 57*.- 

5WEDEN SEK 332 ' 350 ; 53°, 

SWITZERLAND CHF 166 i 66 60"’, 

_U5A S 78 43 | 45° , 

FOR OTHER COUNTRIES, PLEASE CONTACT YOUR NEAREST IrTToFFiCE 


Yes, I would like to start receiving fo international Herald Tribune. 
n My check is enclosed (payable to ffe HI] ' 

Charge my. DAmex □Dtners □ VISA □ Access □ MasterCard □ Eurocard 
For re-US and Asian prianj credit cards wil bo charged in Frandi Francs at current rotas. 

Card No: 1 — Exp. Date: 


Signatures 


For business orders , indicate your W No: 


ffHTVAT Number FR74732021 1 26} 


Mr/Mn/Ms Family Namei. 
firafNam e.- ■ ^ 


, Job Trite. 


Mating Address;. 
Gty/C6cte 


Country;. 


Home Tel NoL 


Business Tel No:. 


E-Mail Address 


21-11-97 


1 gd Ihii copy of tlra IHT ah Odask □ hold' □ airline D-oitar 
□ I do not mill to receive information from otter carofuly screened cprnpoiHi 

MaS or (ax kx International Hamkj Tribune 

EUROPE, MUDDLE EAST A AFRICA Tiff AM ER ICAS ASIA 

. *313888 . 

C M a ir 2 M i «aaPtf . nuM AakaautuhkGhihkxom i 

Offer valid far now wtea^bars only. HA5M 


l 


Imprint par Qffpriiu, 73 rite de f Evmgile, 7501S Paris. 


I 


i 










INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


PAGES 


THEAMEMCAS 




on Burial Plots 


By Don Van Natta Jr. 

New Yort Times Service 


.WASHINGTON — - Several congres- 
sional leaders have reacted with, outrage 
to a magazine report that said White 
House officials had “sold'\buriaLplor8. 
at . Arlington National Cemetery r fdr 
large -campaign contributions, but die 
WhiteHonschas dismissed tile report as 
“scurrilous' and untrue.” 

Senator John McCain, Republican of 
Arizona, a decorated Vietnam veteran; 
demanded that the Senate Committee on 
Veterans Affairs investigate the'- alle- 
gations published in an article in insight 
magazine entitled “Is There Nothtng 
Sacred?” . . . ' . : 

The article accuses the secretary of 
| the army, Togo West Jr., of approving' 
^ waivers for unqualified, non veterans at 
' * Arlington Cemetery because they were 
- * ‘big-time political donors or friends of" 
the Clintons — civ ilians .who wanted 
themselves or family members buried in 
America's most precious grounds.” 

But White House officials on Wed- 
nesday night adamantly denied -the re- 
pent, which will appear in the Dec. 8 
edition of Insight, a magazine published 


by The Washington Hmejfc 

“It is- based on anonymous sources 
and innuendo, - not the facts,” said 
. Lenny Davis, special counsel to die 
president. “It would-be outrageous for 
' anyone to gram or influericetoe grant- 
ing -of ^exc^tiojk^ondta-- the idles for 
burial at Manorial cemetericfebecanse of 
political or fund-raising considerations. 
Neithertbe president nor anyone at the 

- White . House ewr made such a rec- 
ommcadarioni based an such conrid- 
orations.” ' js£ V " .•? v 

. A Drfenre.-Department spokesman, 
Kenneth Bacon, .denied that Mr. West 
had rewarded big. ’donor? - with burial 
; plots at Axfington ' and- other national 
cemeteries. ' He callcd the allegations 
“baseless/* - 

Burial at Aiiington and the 114 other 
national cemeteries is restricted to men 

- and women who have served in the ’ 

armed- forces and their "tmwKati, fam- 
ily members. * 

- A House panel has been looking into 
the increase, in' waivers, that have oc- 
curred daring the CEnton s^ministra.- 
tion. There have been 66 waivers since 
1993, comp&red with 33 under Pres- 
ident George Bush. 



POLITICAL N 


. MtdWbnflMm 

FAMILY MATTERS — Aaron Badeau, one of 19 adopted children in his 
family, with President Clinton during the signing of a bill on adoption. 


Turner Picks State Dept. Official to Allocate UN Fund 


Barbara Crossette 

New York Tunes Service 


i 


UNTIED NATIONS, New York — Ted Turner, 
who has promised to give Si billion to the United 
Nations ova* the next decade, has named the man j 
will allocate the money, the largest donation 
made to the organization. He is Timothy Wirth, a 
former senator from Colorado who is now the un- 
dersecretary of state for global affairs. 

Mr. Wirth, who is involved in environmental and 


issues, is to leave the State Department at 
i raid of December to become president of what will 
be called the UN Foundation. UN officials are to ’ 
complete two days of meetings on Thursday with 
representatives of Mr. Turner to discuss areas in which 
jthe new foundation will work. 
v In an interview, Mr. Wirth, 57, said hfc accepted Mr. 
Turner’s offer because he could not resist “an in- 
credible opportunity” to help shape a new generation 
of foundations and concentrate on global issues in an 
international setting. 


He said he would be pan fund-raiser, increasing the 
seed money of Mr. Turner's grant of stock and cash; 
■part networker, drawing on the growing number and 
■streugtbof private organizations around the world, and 
part public advocate for the United. Nations as it 
focuses increasingly on 21st century thanes. 

“People care a great deal about these new issues, the 
new global issues, post-Cold-War issues,” be said, 
mentioning immigration, population growth, the en- 
vironment, terrorism, narcotics, international crime 
and the world economy. 


Standards on Health 
Proposed by Clinton 

WASHINGTON — President Bill 
Clinton proposed federal legislation 
Thursday for a broad new set of gov* 
eminent standards aimed at guaran- 
teeing Americans better care and 
more voice in the changing health 
care system. 

Mr. Clinton endorsed a health care 
“bill of rights” that would give in- 
sured patients easier access to treat- 
ment, more information to help them 
select both health plans and doctors 
and new ways to appeal if they were 
dissatisfied with their care. 

The president called on health in- 
surers to adopt these patient protec- 
tions, which were proposed by an 
advisory commission that completed 
work on the plan Wednesday. 

By swiftly embracing the work of 
the commission he appointed this 
year — and by advocating new fed- 
eral standards to enforce it — .Mr. 
Clinton is making his largest and most 
controversial foray into the health 
care issue since his attempt at fun- 
damental health reforms was rejected 
by Congress three years ago. (WP) 

Racial Plan Pushed 

WASHINGTON — After months 
of criticism for a slow and unima- 
ginative start. President Clinton is 


. to rcinvigoraie his much-trum- 

r campaign for racial reconcili- 

ation with a burst of projects aimed at 
en g a ging everyone from business ex- 
ecutives to religious leaders to op- 
ponents of affirmative action. 

Nearly halfway into its yearlong 
lifespan, Mr. Clinton's advisory 
board leading the initiative an- 
nounced Wednesday a schedule of 
events, including a forum with cor- 
porate leaders, a “town hall” meet- 
ing and a trip to Fairfax County, Vir- 
ginia, to explore the suburbs cited by 
Mr. Clinton as a laboratory for di- 
versity in the 21st century. 

Id addition, officials nave decided 
to invite a group of prominent con- 
servatives to the white House to sbare 
their views on race with Mr. Clinton. 
Administration officials are also 
working with the cable television in- 
dustry to organize race-related pro- 
gramming. (WP) 

Quote /Unquote 

President Clinton, as he signed leg- 
islation revamping adoption laws to 
make it easier to move more children 
out of foster homes and into per- 
manent families; "Fundamentally, it 
will improve the well-being of hun- 
dreds of thousands of our most vul- 
nerable children. The new legislation 
makes it clear that children's health 
and safety are the paramount con- 
cerns of our public child welfare i 
Tern.” 


■esys- 

(WP) 


Away From Politics 


• Astronauts aboard the space 
shuttle Columbia were told to delay 
for one day the release of a solar 
observatory because of problems 
with a satellite in orbit since! 995 that 
was supposed to make simultaneous 
observations of the sun. (AP) 


• A subway train rear-ended an- 
other train at the Steinway Street 
station in New York City, injuring 
dozens of riders. Emergency crews 
evacuated passengers through a side- 
walk grate. None of the injuries were 
believed to be life-threatening. (AP) 


AMERICAN 


TOPICS 


How New Hampshire Forests - 
Could Swallow a Lear Jet 

Mention the missing Lear jet around 
West- Lebanon, New Hampshire, and 
people will know what you are talking 
about . 

Last Christmas. Eve, two .professional 
pilots from Connecticut were trying to land 
at the Lebanon airport. Their plane van- 
ished. Not a trace of the plane or pilots has 
been found, although officials, family 1 ' 
members, friends and strangers have*Spedr 
.hundreds of hours looking.. How can an_ 
aiiplane just vanish in this modern age? - 

It’s easy, say pilots and woodsmen: The 
plane is a needle in a haystack.. Though 
parts of the Northeast are densely pop- 
ulated, New Hampshire and Vermont in- 
clude large expanses of wooded and un- 
inhabited land, thick with untfergrowth. 
Nearby are therugged White Maun tains; 
thick pines can hide a DC-3. . ‘ . 

Dozens of planes have gone|down in 
these woods over the years, and a§ifw have 
remained missing for years. In December 
1972, The Baltimore Sun reports hikers 
stumbled on remains of a small plane in a 
New Hampshire valley six years after it had 
disappeared. 

A small jet like the Lear, crashing-into 
land, can disintegrate into pieces too small 
to recognize. This plane, flying over land, 
was not required by law to cany an emer- 
gency transmitter that in case- of a crash 
would have emitted a radio signal 


New Hampshire officials say they are 
“absolutely, still looking’' for the plane. 
-They have followed up on hundreds of 
reported sightings, as well as a few sug- 
gestions from people with dowsing rods, 
psychic feelings or visions from God. But 
so far, not a soap of new evidence has 
emerged from the dense woods. 

Fun on the Farm for Urbanites 

Petting zoos, roadside stands and pick- 
your-own apples have long been rural 
staples: But today, entrep re neurial farmers 
are experimenting with much more elab- 
orate enticements to separate city slickers 
from their dollars. 

* Fanners are carving elaborate mazes in 
tbejr cornfields] and charging admission, 
offering exotic "U-pick” crops such as 
’ ''"’"'■asparagus arid flowers, or or- 
lyhokey amusements such r ' 

as strawberry stomping or a Father’s Day 

There+sre nd national statistics on so- 
called aghtourism* reports The New York 
Times; -but Alaska and Oklahoma intro- 
duced it in 1994 as part of their state tourism 
policies. j, ejj ; 1 . • 

' J£ore ! thqi4t50 ^Connecticut farms now 
offer suchri^vities, up from almost none 
10 years ago. New York has, more than . 
1300 farm-tour rites, festivals, hayrides 
and m&kets, up 30 percent in five years. 
Maryland officials say there are more than 
100 suet farms in toe state, up 25 percept 
since 1992.” 

- Not all of rhefanners make big'money. 
But ask Pam and Gary Mount, owners of a 
big pick-it-ycrarsetf -apple farm in Prince- 
ton, New Jersey. “We’ve put two daugh- 
ters through private schools and Princeton 
University ,” Mr. Mount said. 


Brian Knowlton 





ax'd slain ess steel. 
Scradcn-DTOrf 
*iartJ metal oe/ei 
Sapptwe crystal 
.water rassaant. 


Mov^ Watch Company - 
Grenchen, Switzerland 
THu +41 32 329 36 00 
Fax +41 32 329 36 01 

iittp^Avww.vuio.coin 


BRADFORD - BRJSTOC • CARDIFF • CHEPSTOW • CHE5HUNT • CHICHESTER • DERBY • EDINBURGH • GLASGOW - HEATHROW • LEEDS • LONDON • MAIDSTONE • MANCHESTER (1998) 



* ...... . 

fiWfcvTK-.: >■ ■ . . • \ 


w%^fs FUe 


. : - „**•*- » V- *+/>Vv5.. 


' s£aS 


Id 


:':k V ' •- " 




.y- '* ’ C ".t 


B\e 




*> • ■ * 

f-T* .• a? . 


bill 


o£ Peru 



: fc; • < 


! : v; 








UFinoives 










« :&<■ 




w 


> ;<v 


!: ,T v . 



"V i*.. . •■■■./ 


V %v*. 




Will your business Frip in Europe or H\e Mi<A«Ale be U<»issle iVee? H- will i-P you sfr^y 

K^YrloH- UoVel. Vou^ll -Peel per^ecM"ly croiu-Pov+iti^le. Pe\<k V>ec^iuse weVe eoi fo 
ART atat's global cowu\u»\tCtAHo4\ HeHwdrV, you J ll ^lso -Peel \o¥ closer fo Kowve. 

Wlvevv you've com-Pov+^Oele, you c<sv\ Ao ^nyfl/ung. ^^kamott. 

HOTELS ■ 8ESORTS • SUITES 


To. make reservations at any of our hotels in the UK, Europe and Middfe East call toll free: 


Austria . 0660 6703 
France 0800 90 83 33 
• Germany 0130 854422 
Greece 00800 4412 7686 


Hungary 00800 11998 

Italy 1678 76022 

Netherlands 06 022 0122 

Poland 008004411205 


Spain 900 994422 

Switzerland 0800 550 122 
UK 0800 221 222 

Egypt 02 510 0200* 


Jordan 06 697 756 n 

Lebanon 01 426 801* 

Saudi Arabia 1 800 10* 
UAE 800121* 


♦International Toll Free service via AT&T Direct Dial the access number and then dial 800 43 26626. “Local call. 


* 







r 


PAGE 4 


INTERNATIONAL HERALD TRIBUNE, FRIDAY NOVEMBER 21, 1957 


ASIA! PACIFIC 


That Whs No Lady With Hashimoto , Critic Charges 9 That Whs a Spy 


By Mary Jordan 
ana Kevin Sullivan 

Wasfiinxnm Past Service 


TOKYO— Japanese male politic ians know the 
unwritten rale: It is fine to have a mistress, as long 
as you and she arc discreet Prime Minister Ryu- 
taro Hashimoto is now learning an aAlunHin^ to 
the rale: It is better if the woman yon are hangin g 

nut nnfh » r> n«i . f • 


and refused to answer questions about how close 
their relationship was. He said that he knew her 
as an interpreter for a Chinese government del- 
egation and that he ran into her at conferences in 
China and Japan. 

To show his gratitude for her hard work, he 
said he had “invited her for a meal' 1 and later 
wrote to her. 


out with is not a spy fora foreign gov ernment . 

relationship with a 


Mr. Hashimow’s alleged relationship wil 
woman who is suspected of being an intelligence 
agent for the Chinese gove rnment has become an 
embarrassing problem for the flamboyant prime 
minister. An opposition politician recently 
grilled Mr. Hashimoto about the woman during a 
hearing in Parliament, forcing an obviously un- 
comfortable prime minister to admit that be 
knew the woman in the 19805 when he was a 
cabinet member. 

He denied knowing that the woman was a spy 


The spicy, public back-and-forth. a rarity in the 
Parliament, ' 


decorous Parliament, has been covered in the 
press recently, but with nowhere near the vigor 
the American media might show if the president 
were found shoring a cozy dinner with a female 
KGB agent Many Japanese men. especially'those 
of Mr. Hashimoto’s generation, have mistresses 
and many of their wives simply accept it 

“The general reaction of most people, is ‘Oh. 
again?* ” said a political commentator, Takay- 
oshi Miyagawa. “If people really looked at tills, 
they would see it is serious.” 

For years, stories about Mr. Hashimoto 's al- 


leged dalliances occasionally dribbled into the 
saucy weekly magazines here, but rarely into the 
big daily newspapers or television network 
newscasts. The thinking has always seemed to be 
that as long as a politician’s affairs did not 
become too much of a public spectacle, they 
really were not the public's concern. 

Even Shingo Nishimura, the opposition law- 
maker who questioned Mr. Hashimoto in Par- 
liament on Oct 30, said in an interview that a 
routine extramarital affair would be a “private 
matter.” But because the woman is a suspected 
Chinese spy, the matter is a “national disgrace.” 

Some people interviewed on the street said they 
were surprised by the allegations surrounding Mr. 
Hashimoto and his girlfriend, but no one seemed 
outraged. Political pundits said the issue had not 
affectki the prime minister’s popularity; his ratings 
are actually beginning to rise a bit after recent lows 
caused by a separate political scandaL 

National newspapers played the story of the 


Oct.' 30 Parliament debate deep inside, with 
about the same time they might use to describe 
tire results of Mr. Hashimoto 's latest dental 
checkup. 

The name of the woman has never been made 
public. Press reports say she met Mr. Hashimoto 
in 1980 when she was an interpreter for the 
Chinese Health Ministry. She then moved to a 
post in the Chinese Embassy, in Tokyo, where 
she served from 1985 to 1987. No proof of her 
spying has been made public, but a Japanese 
intelligence official said tins week that die wom- 
an was known in intelligence circles as an 

agent. 

Press reports said the woman’s husband called 
and wrote to Mr. Hashimoto many times to tell 
him to stay away from his wife, and he blamed 
the prime minister for the couple’s divorce in 
1989. 

When stories about tire woman’s relationship 
with Mr. Hashimoto started appearing in the 


press, she and her current husband sand .to 
porters that the stories were 

up by her bitter former husband. He men nl 

lawsuit against them for defamation. 

■ All three are scheduled to appear in Y° 
courtroom for a hearing on the case on l*c- j- 
The ho-hum response so far may i»™y 
because Mr. Hashimoto’s political rivals do nm 
see this as the right time to attack bin 1 - 1 . D ® 
economy is faltering, caught up in the grow“« 
worldwide concern about East Asia s 
problems. And, despite Mr. Hashi m oto s lo 
popularity ratings, opposition parties are vui- 
nexable themselves and apparently ao not ieei 
strong enough for a fight 

Perhaps more key, people here do not seem to 

think the issue is im po rtant. Mr. Hashimoto has 
said he spent time with tbe woman more than a 
decade ago, so many say they believe the issue is 
.too old to worry about and it is highly unlikely 
the w oman was able to extract state secrets. 



sij 


China Discourages Hopes 
For Wang’s Early Release 


Reuters 

BEUING — China played down the 
likelihood Thursday of an early release 
of the imprisoned dissident Wang Dan. 

On Tuesday, tbe Foreign Ministry 
spokesman, Shen Guofang, said that 
early releases such as the one granted 
this week to another leading dissident, 
Wei Jingsheng, would continue. 

His comments led to speculation that 
Mr. Wang and other imprisoned ac- 
tivists might be allowed to travel abroad 
as Mr. Wei did, to the United States for 
medical treatment 

But Mr. Shen said Thursday, “1 don't 
think I have ever hinted at anything on 
this problem." 

“As a Foreign Ministry spokes- 
man," he said. “1 have no right to hint at 
who can or cannot be released on med- 
ical parole.” 

Mr. Wang, 28, a leader of pro-de- 
mocracy demonstrations that were 
crushed by the army with heavy loss of 
life in Beijing in 1989, was imprisoned 


for LI years last year for plotting to 
He earlier- 


overthrow the government, 
served four years for his role in the 
Tiananmen Square protests. 

Mr. Shen said it was up to judicial 
departments to grant medical parole. 

“In the future, I think so long as the 
person in question can meet the re- 
quirements of a medical parole, then be 
can be released,” Mr. Shen said. “But 
all these things must be handled by the 
judiciary departments of China.” 

China abruptly released Mr. Wei, 47, 
on medical parole Sunday, and he im- 
mediately boarded a flight for the 
United States. Doctors in the hospital in 
Detroit where he has been receiving 
treatment said Wednesday he was likely 
to leave the hospital Thursday. He has 
been instructed to stop smoking and 
stick to a low-salt diet to control high 
blood pressure and chronic bronchitis. 

Mr. Wei plans to hold a news con- 
ference in New York on Friday; it would 
be his first since his release. 



Seoul Arrests 
Top Scholar in 
Cracking Ring 
Of North Spies 


By Nicholas D. Kristof 

New York Times Service 


Wei Shanshan, who lives in Germany, and her son visiting her brother, the dissident Wei Jingsheng, in Detroit. 


BRIEFLY 


Pakistan Cabinet to Consider 
Impeaching the President 


India Party Refuses to Quit Coalition 


ISLAMABAD, Pakistan — Prime Minister Nawaz Sharif's 
cabinet was planning Thursday to introduce a resolution in Par- 
liament to impeach Pakistan's president, cabinet sources said. 

The decision cap a week of political turmoil that has seen the 
prime minister indicted on contempt charges and legislation struck 
down by a tenacious chief justice. 

The cabinet went into emergency meetings Thursday after Chief 
Justice Sajjad Ali Shah struck down an amendment to the contempt 
of court law that would have given Mr. Sharif the right of appeal, 
should be be convicted of contempt 

The cabinet decided to impeach President Farooq Leghari after 
he delayed signing the amendment, something he is required by law 
to do. Mr. Sharif bad asked him to attach his signature within 24 
hours of receiving the amendment, although he has 30 days 
according to the constitution. 

It was not clear what grounds Mr. Sharif’s government can use to 
justify its move to impeach the president. (AP) 


NEW DELHI — India’s Congress (I) Party threatened again 
Thursday to withdraw its support from the government coalition if 
a southern regional party is not expelled from die government. 

But the Dravida Monnetra Kazhagam party fought back, saying ' 
it would not quit following the release of a report which said that it 
had provided “tacit’’ support for die suspected assassins of former 
Prime Minister Rajiv Gandhi. 

The party leader, Muthuvel Karunanidhi, called the charge 
“baseless.” He added: “What is happening now is politically 
motivated. We have done nothing wrong. Our conscience is 
clear.” (Reuters) 


Dilawar. said: “The Islamic Emirate of A fghanistan says these 
irresponsible remarks made by the secretary of state of the United 
States emanated from her unawareness of the reality in Afghanistan 
and expresses its protest against such remarks.” 

During her visit to Pakistan on Tuesday, Mrs. Albright called the 
Taleban regime “despicable” for its treatment of women and 
children and said such conduct violated human rights. (Reuters) 


Malaysia Watchingfor Internet Slurs 


Taleban Condemns Albright 


ISLAMABAD, Pakistan — A senior official of Afghanistan’s 
ruling Taleban militia condemned the U.S. secretary of state, 
Madeleine Albright, Thursday for referring to it as “despicable.” 
The Afghan ambassador to Pakistan. Maulawi Shahabuddin 


KUALA LUMPUR — Malaysia has set up a committee to watch 
for any inaccuracies in foreign reports about the nation carried on 
tbe Internet. 

“We will decide on the appropriate action to correct any wrong 
perceptions in the reports,” Tengku Aiaudin Abdul Majid told The 
Star newspaper. He is deputy secretary-general of the Culture. Arts 
and Tourism Ministry. 

The committee will send a weekly report to the prime minister’s 
office, the newspaper reported. 

Malaysia has criticized much foreign reporting about the country 
as biased and inaccurate. (AP) 


Do you live in Austria, 
Belgium, Luxembourg 
or Sweden? 


For information about subscribing call: 
.Austria 01891363830 
Belgium 0800 17538 (toll-free) 
Luxembourg 0800 2703 (toll-free) 
Sweden 020 797039 (toll-free). 


HcralbSSnbuttc 


im; votturs nun - newsiwer 


ANNOUNCEMENT 


IN VIEW OF THE PREVIOUS 
ANNOUNCEMENT OF AN 
AUSTRALIAN COMPANY CALLED 
"INOVAX" TO TAKE ACQUISITION 
OF PT. PONCO INDONESIA 
IS NOT TRUE 
( IT IS A DECEIVE I. 


PT. PONCO INDONESIA 


RECRUITMENT 




You will End below a selection of employment offers published in last Monday's International Herald Tribune 

For a copy of last Monday's paper, please contact Sarah WershoC, London: 44 17 1 420 0326 

PBSTXI^i 

. . ■ ’ s • .%+. 

Professional in Sales 
and Marketing 

■. .v. 

Mustad international 

Group 

Mustad Hoofcare 5A 

Att: Mr. Diego Zbar 

2, rue de [Industrie 

CH-Ib30 Bulle/Switzeriand 

Account Executives 

Jacques Chahine 

Finance 

Jacques Chahine Finance 

2 rue de Chateaudun 

75009 Paris, France 

Brand Development 
Executive 

International 

Herald Tribune 

Brand Development Manager 

UK Agency Sales, 63 Long Acre, 

London, WC2E 7TL 

Tel: 444 171 8364802 

Fax: +44)71 240 3417' 

Internal Communications 
Advisor 

Groupe BBC 

Ref: GEC TR/BNT COM/22.2HT 

1 bis, place de Valois, 75001 Paris, France 

Fax: 33 1 42 60 38 95 I 

Contributing Editors 

Cadogao Publications Ltd 

Kevin Kelly, Chairman 

1st floor, 50 Hans Orescent 
Knightsbridge, London, UK. 

Fax:0171-2252942 

TU: 0171-581 1805 ext. 206 


Nobel Laureate Warns Asians 


The Associated Press 

VANCOUVER, British Columbia — 
If leaders of the Pacific Rim continue to 
promote free trade in Asia and ignore 
the abuses of its repressive govern- 
ments, they coaid be “courting rev- 
olution," according to Jose Ramos- 
Horta, a 1996 Nobel peace laureate. 

Mr. Ramos-Horta used his speech to 
open the People’s Summit, an altern- 
ative event oo the other side of town 
from the Asia-Pacific Economic Co- 
operation forum. 

Leadens of APEC’s 18 member coun- 
tries meet here next week, and senior 
officials from their governments are 
working on a final agenda that will 
focus on trade liberalization. 

But Mr. Ramos-Horta said it did not 
make sense for APEC leaders to meet 
each year and ignore related issues. - 

“The enormous wealth and the po- 


tential of the APEC region are obvious,” 
Mr. Ramos-Horta said in his speech at 
the Plaza of Nations building. 

“However, APEC’s political diversity 
comprising rich and democratic countries 
as well as some of the poorest and most 
repressive regimes of the region, rednee it 
to essentially an annual extravaganza of J 
leaders and bureaucrats who Me alienated 
from tbe common peoples’ problems and 
real needs," he said. 

If APEC remains “indifferent to the 
armies of peasants and workers expelled 
from their land, the labor leaders, stu- 
dents and activists imprisoned because 
of their opinions, then it is courting 
revolution,” Mr. Ramos-Horta, said. 

When Indonesian forces invaded East 
Timor in 1975, Mr. Ramos-Horta fled 
into exile. Since thee, he has traveled 
toe world promoting independence for 
his homeland. 


SEOUL — The government said 
Thursday that it had broken up a ring of 
North Korean spies, one of whom was 

identified as ascnolar known as the father 
of sociology studies in South Korea. 

The arrest of Koh Young Bok, pro- 
fessor emeritus at Seoul National Uni- 
versity, sent shock waves through the 
South Korean establishment Mr. Koh 
bad served as director of a government 
research center and made two official 
trips to North Korea in 1973 as a Sooth 
Korean adviser. Tbe authorities said that 
on those trips he had briefed toe North 
on toe South’s bargaining position. 

Mr. Koh has been spying for Pyong- 
yang for 31 years, toe South Korean 
intelligence agency said. During that 
time be wrote two dozen sociology k 
works, including standard South/ 
Korean textbooks, and served as mentor 
to many of the country’s scholars. 

The alleged spy ring was broken up 
when a leftist reported to the South 
Korean authorities that he had been ap- 
proached by two North Koreans and 
asked to spy for the North. That led the 
counterintelligence police to pounce on 
toe two Northerners, Choi Chung Nam, 
35, and his wife, Kang Ynn Jung, 28. 

Miss Kang committed suicide a day 
latex. The police had searched the two for 
any suicide capsules, X-raying (hem and 
examining their mouths, but when Ms. 
Kang went to the toilet with an escort she 
removed a cyanide capsule from her 
vagina and killed herself with it 

Mr. Choi confessed and apparently 
led the counterintelligence agents to toe 
spies with whom heharfbeen in contact. 
He also showed them hidden drop-off 
places around Seoul used to hide guns, 
radia transmitters and ballpoint pens 
that can shoot a lethal poison. 

According to toe South Korean in- 
telligence agency, the North Korean 
agency took Mr. Choi and Ms. Kang 
speedboat to just off the South Kbit 
coast Aug. 2, and they swam to shore. 
Their mission reportedly was to recruit 
agents, acquire new South Korean iden- 
tification cards to be copied and used for 
future infiltrations, and obtain infor- 


mation about a highly productive strain 
ped in the South. 


of corn developed : 

In addition to Mr. Koh, toe couple is 
said to have met with another alleged spy, 
Sim Jong Ung, a senior employee of the 
subway system. Tbe South 


Seoul subway system. Tbe South Korean 
intelligence agency said that the three 
discussed how the subway system mniH 
be disabled to create chaos in toe prelude 
to any war. Mr. Sim was arrested j 
North Korea bad no imme diate com# 
meat, but it generally dismisses such 
arrests as South Korean propa ganda 
While most South Koreans assume 
that- North Koreans have infiltrated the 
South, Mr. Koh’s arrest stunned many 
because of his eminence and because he 
was regarded as a conservative intel- 
lectual hostile to the North. 


CROSSWORD 


ACROSS 

1 1srael, to some 
» CJosei odortzer 
is Source of cubes 
ie Individually 
17 Jazzy rhythm 
technique 

is Four-wtieeier 
is Promulgate . 

20 Hybrid 
*2ZiegfekJ 
offering 

23 Na Na 

24 Like sex 
symbols 

h Hit bottom 9 
Italian monk 


so Gulf war ally 

33 "LA. Law- 
lawyer 

34 Average guys 
3» Plane capL’a 

announcement 
38 "Just simmer 
down!* 

40 Kind of beetle 

41 Aerosol 

42 African 
antelope 

43 A four-star meal 
it's not 

48 Med. center 

ward 
48 Leaks 
47 Indian of 
southern 
Mexico 


4e Prefix with 
handle 

so Tuscany town 
32 Blow the joint 
84 Fret letter 
57 Bait 

■a Symptoms of 
otitis 

•1 Operatives 
02 Battle of Britain 
fighter 

ea Dumas's ‘La 

Herne * 

64 Work boot 
feature 


DOWN 


Solution to Puzzle of Nov. 20 


□ 

a 

□ 

E 

□ 

a 

□ 

E 

0 

□ 

n 

□ □ 


a 

S0 

□ 

h 

□ 

□ 

□ 

□ 

H 

EB 

a 

□ 

□ 

ED 

m 

□ 

E 

an: 



□□□□SB 





HAVART I FI VEO 


err 


BA 


□ □□0 □□□OHO 
3Q □□□ OHHn 
anna □□□□ tnaa 
□huickdehediihs 

□ss aataana 
□QataQHaaaaaBaa 


m 

□□ 

□ □□□□a □□□□ 

E 

□e 

□ QDBQE 0EDDE 

□ 

am 

□ aEQEl □□□B 


1 Heckle, in away 

2 Vfll 

s Plaintive cry 

4Akihito. e.g.: 
Abbr. 

stand of Md 

6 Director 
Kurosawa 

7 Earty comics 
name 

■ Executive's 
fashion credo 

• Wilt 

10 To the left 

11 ‘O tempore. O 
mores I" 
speaker 

ix It’s just a racket 


is Decorator^ 
shade 

14 Where tesysux 
are 

« Optimal, as a 
bet 

23 Salon sound 
23 Truss 
M ’Land. — T 

27 Alberto VOS 
rival 

as Wind 
Instrument 
31 A-test site, 
perhaps 
. 32 Some baby 
holders _ 

34 Saliva 
37 Drop 
as Souf mate 
*» Bar selections 
44 Heartsick (for) 







H 



i5~ 








IF 








lit 



■ 

s~ 





46 Kind of knife 
48 English novelist 
Corelli 

50 Vein 

51 Swenson of 
"Benson" 

63 Absorbed 



ur 

rr 

nr 

w 














1 






25 




m 


1 


131 

[32 


1 

1 






29 




■ 

s 





1 

«- 










Puzm BrCMk Deodene 


ONew York Times/Edited by Will Short*. 


t i 


!:!■: 


to some 


■4 Voucher 
ss Parade honoree 
seUh-huh" 
ss Inflationary 
suffix . 

60 Toronto 
Argonauts' <xg. 


Ji 



iWl 




1 


. J 




INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


PAGE 5 



INTERNATIONAL 


f- 


Mexico Police End 14-Hour Mutiny 


Thr Associated Press ! 

*** MEXICO CITY — After forcing a 


bizarre 14-hour standoff with soldiers, 
an elite police special forces team sur- 
- '■rendered and agreed to turn over com- 
rades for questioning in the torture and 
'Nailing of six youths. 

■ r< The standoff shook Mexico City, 
-•which was already frightened and tense 
•'‘over a wave of crime and street violence 
'••this year. 

* The police team that mutinied Wed- 
; nesday morning, known as the Zorros. 
“dr Foxes, walked out of its Mexico City 
compKiund peacefully shortly before 
''midnight Wednesday after army troops 
'•pulled out of the base, the government 
■ press agency Notimex reported. 


* l ( A spokesman for the police team said 
•'the 360-member force want 


t 


force wanted to ensure 
that 14 members wanted for questioning 
Jhad a chance to obtain lawyers before 
they appeared before judicial author- 
ities. 

The tensions revolve around a Sept 8 
shootout during a police sweep of the 
Buenos Aires slum in central Mexico 
City. A police officer and a civilian were 
killed, and when the shooting stopped, 
<the police were seen hustling six youths 
■•into patrol cars. 

The youths' bodies turned up days 
plater, tortured and shot. , 

The killings created a furor in this city 


resulted in the disbanding of another 
elite police force, the Jaguares, or Jag- 
uars. 

On Wednesday morning, members of 
the Zorros team said, they were ordered 
to go on patrol without their customary 
submachine guns, pistols and bullet- 
proof vests. 

During their patrols, their radios were 
taken off be air. 

When they returned to base, they 
found that about 120 soldiers had moved 
in and taken control of the armory, die 
radio dispatch center and other offices. 

The Zorros said the soldiers had come 
to arrest 14 of their comrades in con- 
nection with the killings of the youths. 

The special police reacted by sealing 
off the base, setting up sandbags at 
the entrance and patrolling with attack 


‘-of 8.5 million, and led to th e arrests of 
about two dozen police officers. It also 


747 Goes Off Paris Runway 

Agence Frvttce-Pnssc 

PARIS — A Boeing 747 operated by 
Iberia Air Lines weat off the runway 
Thursday morning at the Roissy-Charles 
de Gaulle Airport as it was about to take 
off for Madrid, airport officials said. 

They said no one was injured and dial 
the aircraft was carrying only crew 
members. Officials blamed the accident, 
which resulted in delays of around 30 
minutes for other flights, on technical 
problems. 


dogs. The soldiers remained inside. 

In the afternoon, the Zones agreed 
to remove the blockade, but the stand- 
off continued as both sides waited for die 
Mexico City police chief. Major Gen- 
eral Enrique Salgodo Cordero, to show 
up. 

The police chief flew to the Zorros' 
base in a helicopter Wednesday after- 
noon, and a police official said the 14 
members of the special police team had 
been promised legal protection. 

President Ernesto Zedillo, in a meet- 
ing Wednesday with judges, did not 
mention the standoff, but he denounced 
police forces that act with impunity. 

“Any authority, be it civilian or mil- 
itary, knows that its duty is to act in 
confoimity with the law," he said. 

“Unfortunately, there are still vio- 
lations of the law, there is still abuse of 
authority and impunity of many crim- 
inals." 

An average of six people are 
murdered and 610 crimes committed 
each day in Mexico City, according to 
police figures. 

General Salgado, the police chief, has 
tried to combat the crime wave with 
police sweeps. 

But those very sweeps have come 
under criticism from residents and hu- 
man rights groups. Many arrests made 
are without court warrants and, critics 
say, without reason, except to fill 
quotas. 



Stctaw Cwiretu/Tbe Amutumi Prcn 

COWCATCHERS — Dairy farmers blocking a rail Hue Thursday 
near Caravaggio, Italy, as part of protests against fines levied by the 
European Union for exceeding tire national ceiling on mQk production. 


SEVEN: 

Babies Survive Odds 


Continued from Page 1 


and her husband is a billing clerk at an 
auto dealer. 

The children were in serious con- 
dition Thursday morning, considered 
normal for a multiple birth, in the 
neonatal intensive care unit. Joel Steven, 
the last to arrive, was listed as critical for 
several hours before his condition was 

upgraded. . . . 

Hospital officials said their mother 

was resting comfortably. The focus now 
is on her recovery and the babies’ con- 
tinued health. Dr. M ah one said. 

“We want to make sure they breathe 
on their own eventually, that they’re 
eating well,** she said. “We’re mon- 
itoring for bleeding into the brain, and 
also watching their digestive system. 

Kenneth Robert, the first born, is Mr. 
Hep worth’s namesake. Doctors nick- 
named him Hercules because he held his 
siblings in a pyramid formation in the 
womb. Dr. Mahone said. 

He came into the world at 12:48 P.M., 
weighing 3 pounds, 4 ounces (1.474 
kilograms). His siblings were bom a 
minute apart: Alexis May at 2 pounds, 
1 1 ounces, followed by Natalie Sue, 2 
pounds, 10 ounces; Kelsey Ann, 2 
pounds, 5 ounces; Brandon James, 3 
pounds, 3 ounces; Nathanial Roy, 2 
pounds. 14 ounces, and lastly, af 12:54 
P.M., Joel Steven, at 2 pounds, 15 
ounces. (Reuters. AP. NYT) 


KOREA: An Appeal to Japan 


7 Continued from Page 1 


'^theory” after all. It did not 
Jiold true in ideology, for the 
i-Tall of South Vietnam in 1 975 
did not lead the rest of South- 
-east Asia to topple like dom- 
- linos; but Asian trade and mar- 
kets are now so integrated that 
'{market forces are proving 
■imuch more mobile than Com r 
■•muni st guerrillas ever were, 
i Since Thailand experi- 
i fenced a run on its currency in 
Ithe summer, currencies and 
markets have plunged 
■throughout the region, with 
-i the Malaysian stock index 
••tumbling 1 1 percent Thurs- 
. .day alone. (Page 15) 
n South Korea, though, is far 
: t'inore important economically 
than Malaysia, Thailand, In- 
Idonesia or other places that 
•‘have experienced various dif- 
-■ficulties in the past few 
^months. 

■* In particular. South Korea 
'has a $110 billion foreign 
idebt, with by some accounts 
one-fifth of that maturing in 
'the next- six weeks, and dif- 
1 ficulties repaying those loans 
•-could cause problems for in- 
ternational banks — espe- 
cially in Japan. 

To be sure. South Korea 
also has enormous underlying 
'strengths. That point was 
j demonstrated when the gov- 
] eminent announced Thursday 
’’that the South Korean econ- 
■'omy grew a solid 6.3 percent 
'■in the third quarter. 

Exports ore soaring, the 
-•Trade deficit is shrinking, in- 
flat ion is low, unemployment 
•..'is negligible, and, even now 
■Ion the verge of crisis. South 
••Korea has one of the fastest- 
ligrowing economies among 
a the industrialized nations. 

•: More broadly. South 
• Korea, its department stores 
-i packed with high-technology 
goods and with shoppers, its 
-government ministries thick 
■With holders of doctoral de- 
agrees from American uni- 
versities. docs not remotely 
riiave the banana-republic fla- 
vor that its financial policies 
'have lately projected. 
j Because the underlying 


, Economy remains strong in 
-•many respects, what South 
Korea seems to face is a li- 
quidity crisis coupled with a 
'mountain of bad debts that 
'.have left many Korean banks 
'with dubious solvency. 
- ^Moreover, disclosure has 
been so poor that no one 
really knows whether con- 
fronting the bad-debt prob- 
-nJem will be simply painful or 
downright agonizing. 

**D«piie our sound eco- 
- -numic indicators in Korea, we 
are currently experiencing fi- 
.-pancial market instability," 
i.Mr. Lint said Thursday. 
“Such instability, combined 
“with a lack of international 
■ .cooperation among financial 
! institutions, is leading to eco- 
. -inoznic crisis in Korea. If that 
a reality, it will 
k ; badly affect Japan as well." 
r- The South Korean govem- 
J.jnent seems to believe that a 
i combination of pleas, threats 
>~and liberalization steps will 
] .bring in as much as $50 billion 
J in loans and new investments 
[pond thus alleviate the liquidity 
Htrisis. But almost no one else 
J seems to believe that. 

\ - “The direction of the mea- 
!_sures is right, and we’ve been 
{ waiting for them for a long 
f time," said Lee Won II, head 
Lof research at KEB Smith 
Barney Securities in Seoul. 
.u“But it's not enough to sta- 
bilize overall sentiment." 

“Although it's painful to 
our national pride, I think 
we’ve got to go to the IMF,” 
he said. 

South Korea’s president. 
Kim Young Sam, and other 
government officials have 
been extremely reluctant to 




request emergency funds 
from the IMF because it 
would be a crushing arimis - 
sion of economic failure. 

In addition, the IMF would 
presumably set tough condi- 
tions on Korea’s economic 
policies and erode the auton- 
omy of officials in Seoul. 

“There’s still a feeling in 
the government and in the 
public that it would be giving 
up so-called economic sov- 
ereignty," said Han Sung 
Joo, a political scientist and 
former foreign minister. 

But Mr. Han argues that 
turning to the Fund might ac- 
tually be good for Korea in 
the (ong run by pushing the 
nation to restructure its econ- 
omy in essential ways. 

“Hie reforms that the IMF 
would demand are those that 
we should take 1 by 
ourselves,” Mr. Han said. 
“But we need the external 
impetus to do it” , 

Mr. Lim, the finance min- 
ister, suggested that Japan 
could help Korea by buying 
Korean bonds and by pelping’ 
ensure that loans are rolled 
over when they mature. 

But Japan, whichjbas its 
own banking crisis, has given 
no indication that it might 
provide the tens of billions of 
dollars that Korea needs. 

A day earlier, Mr. Lim 
hinted that he might ask the 
United States as well, but 
Washington clearly believes 
that South Korea should turn 
to the' IMF, and Thursday Mr. 
Lim did not even bother to 
plead for direct help from 
Washington. , 


$100 Billion Bailout? 


Sandra Sugawyra af The 
Washington Past reported 
from Tokyo: 

Analysts have estimated 
that South Korea would re- 
quire a bailout of $50 billion 
to $100 billion, which could 
make it larger than Mexico's 
$50 billion rescue package in 
1995. ' 

South Korea has a foreign- 
currency debt of about $122 
billion, of which $85 billion is 
short-term, according to Ken- 
neth Courtis, economist at 
Deutsche Morgan Grenfell. 

Mr. Courtis said that South 
Korea needed $30 billion to 
$40 billion immediately, al- 
though “$30 billion would be 
just the opener,” estimating 
that the total bailout required 
would be a minimum of $50 
billion to $60 billion. 

With many other Asian 
countries reeling from the 
currency turmoil that first 
struck last summer. South 
Korea has focused its hopes 
for help on Japan, the world's 
second-largest economy, 
with $220 billion in foreign 
currency reserves. 

Mr. Lim warned that Japan 
could not ignore its plight, 
because a further depreci- 
ation of the won would hurt 
the Japanese economy as 
well. South Korea is Japan's 
fourth- largest export market. 

Mr. Lira also said the Jap- 
anese government should 
persuade Japanese banks to 
extend their short-term loans 
to Korean companies. 

Otherwise, the Korean 
economy could collapse, 
which would make it harder 
for Japanese banks to collect 
their longer term loans, said 
Mr. Lim. 

Japanese banks have lent 
$24 billion to South Korea, 
making them the largest for- 
eign lenders in South Korea. 

Analysts said that Mr. 
Lim's warnings to Japan had 
merit. Loan defaults would' 
hurt Japan's financial system, 
which is already struggling 
with high levels of bad debt, 
said Ichiro Ikeda, Tokyo di- 
rector of Credit Suisse Fust 
Boston. 


This man is ready to 


BECOME A WORLD LEADER IN 
PRIVATE INFRASTRUCTURE 


SERVICES 


^ This man personifies the Suez Lyonnaise des 
Eaux group. He is ready to take on the world, for 
he was bom to meet the expectations of his time. 


j This man is the symbol of an industrial group 
which has sold assets of 10 billion francs 
since the beginning of the year in order to 
focus on its 4 core businesses in private 
infrastructure services : energy, water, 
waste management and communications. 


•Water : he signed new contracts in Manila, 
Budapest, Casablanca, . Jakarta and La Paz. 
•Waste management : he took the leader- 
ship position in Brazil following a major 
acquisition. 


4 


This man has already proven his worth. The 

financial results for Suez Lyonnaise des Eaux 
for the first half of 1997 exceeded expecta- 
tions, showing net operating income of nearly 
2 billion francs, an increase of 15%. 


This man was very successful in 1997, becau- 
se he met the growing needs of 
cities the world over. For 
example : 

•Energy : he developed 
electricity capacity in 
Thailand and the 


transportation of natu- 
ral gas in Kazakhstan. 



Finally, this man reminds us that 
people are our most important 
resource. We have 184 000 
men and women in more 
than 100 countries 
who serve our custo- 
mers, partners and 
shareholders. 


Suez Lyonnaise des Eaux 




f 





PAGE 6 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


INTERNATIONAL 


U.S. Now Speaks Out Against Iran Pipelines 


By David B. Ottaway 
and Dan Morgan 

WuskuiRtun Post Sen icr 


WASHINGTON — The Clinton 
administration, facing an erosion of 
its efforts to isolate Iran econom- 
ically, has begun aggressively seek- 
ing to persuade resource-rich Caspi- 
an Sea nations to scrap plans for oil 
and gas pipelines through that coun- 
try in favor of a costlier "Eurasian 
transportation corridor" to the 
West. 

The initiative is aimed partly ai 
aborting plans under discussion 
throughout Central Asia to use Iran as 
a principal conduit for the shipment 
of vast quantities of still-untapped 
Caspian oil and natural-gas reserves. 

The U.S.-backed corridor would 
involve a system of oil and gas 
pipelines stretching from Kazakh- 
stan and Turkmenistan westward 
across the Caspian Sea to 
Azerbaijan's capital, Baku, and then 
on to Georgia. From there the oil 
pipeline would cross Turkey to its 
Mediterranean port of Ceyhan. 

The proposed pipeline system 
would carry a major share of Caspi- 
an resources beginning early in the 
next century. 

The new U.S. policy, outlined in 
Caspian capitals over the past two 
weeks and at two international en- 
ergy conferences here in the past 


two days, has caught many oil-com- 
pany executives and many top gov- 
ernment officials in the Caspian re- 
gion by surprise. 

Only three months ago, officials of 
President Bill Clinton's administra- 
tion said they had no legal authority 
to block a trans-Iranian pipeline car- 
rying gas horn the eastern Caspian 
nation of Turkmenistan to Turkey. 

The U.S. government’s apparent 
acquiescence occurred as new oil 
ana gas links between several Caspi- 
an nations and Iran were beginning 
to take shape. Turkmenistan, for ex- 
ample. will soon stan gas deliveries 
to northern Iran. China, which has 
just won two huge gas and oil con- 
cessions in Kazakhstan, in Septem- 
ber signed a deal that included an oil 
pipeline via Iran. 

In addition, Siemens of Germany 
bos been commissioned by the Ira- 
nian government and several French 
companies to study the feasibility of 
a K a zn khs tan - to- Iran oil pipeline, a 
U.S. oil-company source said Wed- 
nesday. 

The earlier U.S. ambiguity re- 
garding Iran's participation in the 
Caspian energy boom came under 
shaip criticism from pro- Israeli 
groups in the United States, which 
have been pressing for a hardening 
of U.S. efforts to isolate Iran, in- 
cluding the implementation of sanc- 
tions against European companies 


investing there.Dn Wednesday, one 
of the top U.S. spokesmen on the 
Caspian energy issue -warned 
against any Iranian involvement in 
Caspian pipeline routes and said the 
administration was' strongly op- 
posed to Turkmenistan supplying 
gas to Turkey through Iran. 

"Iran is a competitor, not a part- 
ner for the Caspian states when it 
comes to oil and gas exports/' said 
Ian Kaliclri, counselor of the Com- 
merce Department's International 
Trade Administration. "Simply put, 
we think the Caspian states will 
want to avoid an Iranian hand on the 
oil and gas spigot" 

The administration is considering 
what, if any, action to take against 
the French oil company Total, which 
announced last month that it would 
invest several billion dollars to de- 
velop southern Iranian gas fields. 

State Department officials also 
met recently with representatives of 
Royal Dutch/Shell, which has been 
negotiating with Turkmenistan to 
build the gas pipeline to Turkey. 

It was unclear, however, whether 
Caspian leaders are ready to bow to 
the U.S. pressure to abandon the 
Iranian option entirely. 

President Nursultan Nazarbayev 
of Kazakhstan, who is visiting 
Washington, offered conditional 
support for the U.S. -backed West- 
ern pipeline at a session Wednesday 


with American reporters. At Blair 
House, the presidential guest quar- 
ters, Mr. Nazarbayev was seated in 
front of a chart depicting seven 
pipelineproposals — including one 
leading from Kazakhstan’s oil fields 
■ along the eastern Caspian coast and 
through Iran to the Gulf. 

Asked about the Iranian option, 
he indicated he would be willing to 
drop it, but only if the U.S.-backed 
pipeline materialized by next Oc- 
tober. 

"The financing has not been es- 
tablished." he .said. "There’s no 
design for the project completed. 
We'U support the project that can be 
implemented in the quickest way. ’’ 

Oil-company officials in Wash- 
ington for the conferences this week 
also questioned the commercial de- 
sirability of the U.S.-backed Euras- 
ian corridor. 

The Baku-to-Ceyhan portion 
alone would be 1,900 kilometers 
(1.200 miles long) and cost $2.9 
billion, compared with less than $1 
billion for an oil pipeline from the 
Caspian to Iran’s Gulf ports, ac- 
cording to some industry estimates. 

Several oil men described the 
higher price as a "strategic premi- 
um" and questioned who would pay 
for it 

On Wednesday, Energy Secretary 
Federico Pena described as a "ma- 
jor change" the fact that Mr. Clin- 


Km 800 



The New Yodc Times 


ton's administration was "clearly 
articulating" its Caspian policy. Mr. 
Pena, just back from a tour of Tur- 
key and the Caspian region, said he 
had won the support of leaders of 
Turkey, Azerbaijan, Turkmenistan 
and Georgia for the trans -Caspian 
and Baku-Ceyhan routes. 

He said be had established joint 
working groups with governments in 
the region to accelerate the study of 
future rights of way, transit fees, le- 
gal issues and possible local financ- 
ing. He set a deadline of next October 
for the governments and oil compa- 
nies to come up with a final plan. 


Delta Air Lines 


Lfl 


R TOP OF TIE VORLr 







We know all about busy people 


Maybe this is your second or 
even third business trip this week. 
Or perhaps you're wondering 
when you'll find the time to 
complete that new proposal. 
Whatever it is that's keeping you 
busy, the fact that you arrive 
refreshed and prepared is just as 
important to us as why and 
where you're going. 
Which is why, at Delta Air Lines, we 
make it our business to ensure that 
when you arrive at that important 
place you're still buzzing. 


©1997 Delta Air Lines, Inc. 


For more information and reservations see your travel agent or local Delta office, 

or visit our website at www.deka-air.com 





Counting on Cotton # 

In Uzbekistan, a Single- Crop Crisis 

By Stephen Kinzer 

New York Times Service — t— 

GAZLL Uzbekistan^ — The classic description of 
geography as two-thirds desert and one- third cotton *? - 

something of an exaggeration, but it does seem that w 

there is arable land here, there is cotton. 

Countless Uzbek families have been cultivating 
gold" for generations. Brigades of students are trtMSlcea^ 
the fields every year at harvest time. Cotton motifs dec 

everything from road signs to teacups. h-tieinn/ 

In a field outside Gazli. a town in .central UzbeUSianr 
Sbamor Karamova spends her autumn days hunched ove r • 
blossoming plants, picking puffy white bolls and tossing me 
into a long burlap sack slung over her shoulder. She ne^an 
doing this work when she was 15 and now, 25 years later, sn 
can imagine no other way of life. ’ 

"We live from cotton-, and Uzbekistan lives from out 
■ work," she said daring a short break from her labor. '■ 
Mrs. Karamova earns the equivalent of two cents for each, 
pound of cotton she picks, which gives her a monthly 
of about $135. Her family works a small tract of land that it j 
. bought from the government three years ago, but in practice y 
she is still part of a state-run production system. 

"We get our seeds, our fertilizer and everything else we. 
need from the government/’ she said. "After we pick the 
cotton, we sell it to the government. How could it be any other, 
way?” ‘ 

Cotton is big in Uzbekistan, and without it the Uzbek state, 
is all but unimaginable. Farmers sell their produce to tofts 
government at a fixed price, and the state then sells it onthe 
world market for about three times that price. The profit Ls this, 
land’s main source of income, as it has been for more than o' 
century. i . . - 

Soon, after Russian armies began conquering central Asia ia- 
the mid-19th century, civil war broke out in the United States, 
disrupting the supply of cotton from Southern slates to- 
Europe. The czars, quick to recognize a market, ordered that 
Uzbeki stan and surrounding regions be turned into vast cotton, 
plantations. Several of the strains they introduced came dh* .- 
rectly from the United States:, including one from Mississippi 9 
that still bears the evocative name “delta." f 

Soviet leaders extended and intensified the czars' plan, 
raising Uzbekistan's output from 200,000 tons in 1924 to a, 
reported 9 million tons in 1980. : 

Two-thirds of the Soviet Union’s cotton came from Uzbek-, 
istan, but there was not a single textile factory here. Soviet 
planners feared that if such factories were built they would, 
drain labor from the fields. Raw cotton was sent to other parts' 
of the Soviet Union for processing, and many Uzbek cotton, 
pickers never owned a single garment made from the fiber 
they harvested. 

Today Uzbekistan exports 5 milli on tons of cotton each 
year, making it the world's fifth- largest producer. 

During the period of Soviet ride here, so much water from 
Uzbekistan’s principal river, the Amu Darya, was siphoned 
into cotton irrigation canals thatnone was left to flow into the 
Aral Sea. As a result, the sea has been shrinking at an alarming 
rate, and scientists fear it may (fry up altogether within 25 
years. - * 

"There is a saying in Uzbekistan that cotton is white, but it f 
works black/' said Akhmadjon Meliboyev, a journalist who; 
has written extensively about cotton and the problems it has' 
brought to Uzbekistan. ‘ ’That means it has haaa terrible effect, 
on our people." . . :■ 

"Cotton fields extend right up to the walls of houses,, 
kindergartens and schools, so pesticides sprayed on the fields 
have also been sprayed on people," Mr. Meliboyev said. 

‘ ‘Land that was used to grow cotton was land we couldn’t use. 
to grow food. Total reliance on this one crop has prevented us 
from developing a balanced economy, and since everything is 

•findii 


verytbi 

diffici 


built for cotton production* we are- finding it- very difficult to- 
change." I 

Since Uzbekistan became independent with the collapse of 
the Soviet Union in 1991, foreign companies have been, 
looking for new ways to use Uzbek cotton. One of them, partly 
owned by American investors, is building a factoiy where it 
plans to manufacture cotton automobiles. ^ 

The company has bought a license from the company that 
used to manufacture the Trabant, the cheap East German car, 
whose body was made of plastic. In .the Uzbek version, the. 
body will be made of cotton wastes. c 

When a prototype was unveiled last year, a company 
official,' Vyacheslav Shin, jumped on its roof to prove its. 
strength to skeptical onlookers. £ 

" Admittedly it’s not ultramodern /’Mr. Shin said, "butit'g 1 
cheap and simple. People in Uzbekistan and nearby countries* 
are very interested." | 


BRIEFLY 


300 Reported Dead in Rwanda 

NAIROBI — More than 300 people were killed when 
'la large gang of Hum rebels attacked a jail in northwestern 
Rwanda in a bid to free hundreds of their colleagues, the 
BBC reported Thursday. 

The BBC said that the attack was started on Monday 
and that clashes between the rebels and the Tutsi-dora- - 
mated army continued until late Wednesday. 

The radio, monitored in Nairobi, quoted Rwandan of- m 
ficiais as saying a gang of more than 1 ,200 rebels raided the f 
jail on the outskirts of Gisenyi, on the bonder with the 
Democratic Republic of Congo, formerly Zaire. Most of 
those in jail were awaiting trial on charges that they 
participated in the 1994 Rwandan genocide in which up to < 
800,000 Tutsis and moderate Hutus were killed.( Reuters) ' 

A Second Subpoena for Botha 

WILDERNESS. South Africa — The Truth and Re- 
conciliation Commission served former President Pieter 
Botha with a second subpoena Thursday, ordering him to 
appear before it or face possible imprisonment. 

Two Truth Commission officials went to Mr. Botha's 
home in the southern coastal town of Wilderness to serve i 
the subpoena, which orders Mr. Botha to show up at a 1 
hearing on Dec. 5 in Cape Town. 1 

Mr. Botha! 8J , who led successive apartheid gov- 
ernments as prime minister or president from 1978 until 
1989, has said he will refuse to comply with any subpoena 
from the panel investigating apartheid-era human riehts 
abuses. He conld be jailed for up to two years for 
contempt if he ignores the subpoena. 

AIDS Crisis for Poor Nations 

^WASHINGTON The U.S. Agency for International - 

Development says that 40 million children in developing 
countries will be without one or both parents bv inin * 
because of AIDS. y ~ U1U 

With a population explosion of young people e «? « 
penally m poor countries, "it is a crisis ofstaSo^np" 
proportion. Dr. Nils Daulaire, senior adviser onefold™ 
ana women's health issues, said. “ 

According to a report to be issued Dec. 1 Wohh 4 

AIDS Day — the AIDS epidemic now apparent in «.h_ f 
Saharan Africa will be repeated in the next decade in a 
and Latin America. ’ 

For the Record 

Flooding in Somalia spread to the north on Thunri™ 
and torrential rain continued to pound neiohhX^/' 
Kenya, where President Daniel arap Moi dec!aSdVh!2 
areas disaster zones. , 

- . - (AFP) 




PAGE 7 



As New Finance Chief 

Zadornov Replaces Chubais in Hot Spot 


By David Hoffman 

Washington Pont Service 

,, MOSCOW — President Boris 
Yeltsin picked a respected legislator 
ft centrist Yabloko Party, 
Mikhail Zadornov, to head'the Finance 
Ministry on Thursday after die removal 
of Anatoli Chubais, who remains a 
deputy prime minister. 

- Mr. Yeltsin named Mr. Zadornov, 34, 
chairman of the budget committee of foe 
State Duma, the lower house of Par- 
tiament, to fill the post at a critical point 
for the Russian economy. Industrial 
.growth has barely begun after years of 
^depression; interest rates are rising, -and 
Ime stock market has taken a big dive as 
'foreign investors fled after the global 
market turmoil 

- Mr. Chubais was removed from the 
Finance Ministry post after an uproar 
over the disclosure that he and four 
aides accepted 590,000 apiece for a still- 
unpublished book on tire history of Rus- 
sian privatization. The money came 
from a publishing house owned in part 
by a bank that had been successful in 
several recent government sell-offs of 
state companies. 

The payments came just as Mr. 
Chubais was pro claimin g that the gov- 
ernment would be independent from the 
bankers. The jMyrneuts were secret until 
they - were disclosed by a journalist 
working for a paper supported by a 
Russian business tycoon. 

Mr. Yeltsin, who dismissed three 
Chubais subordinates last weekend, de- 
cided to keep Mr. Chubais in the gov- 
ernment, apparently in hopes of reas- 
suring Western investors. While 
despised at home, Mr. Chubais is widely 
respected in international financial 
circles as an architect of Russia’s tran- 


sition from a command economy to free 

markets. 

Mr. Zadornov, first elected to the Par- 
liament in 1993, had earned inspect in 
ttoParliamexnrforhisno-nonscais^yuc- 
tical approach-to Russia’s ranmituin ' of 
budget troubles. In recentyeaxs, the Par- 
fiament has repeatedly approved budgets 
that were wildly unitaEgtic, espeaally 
since revenues have plummeted. 

The giant gap -between the budget 
promises, and the reality that only 50 
percent of planned revenues have been 
collected, has made the Finance Min- 
istry a hot spot The mini stry has had to 
dole out available funds to regions rad 
programs under intense pressure, Crit- 
ics have said foe money is distributed 
both arbitrarily and corruptly. - 

Mr. Chubais took the portfolio in 
March, along with that as nr 
prime minister, to try to impose 
controls while steering through Parlia- 
ment key economic reform bub; like a 
tax overhaul 


Mikhail Zadornov, 34, was chair man of the Dnma’sTuidget committee. 


ETA Calls Halt to ‘Prison Campaign' 


Reuters 

BILBAO, Spain — The separatist 
guerrilla organization ETA announced 
Thursday that it had suspended all ac- 
tions it had planned to carry out on 
behalf of jailed comrades. ■ 

. ETA, which stands for Basque 
Homeland and Liberty in the Basque 
language, said it was halting what it 
called its “prison campaign,' 1 which 
has included hunger strikes and other 
protests, behind tens. 

The announcement was also widely 


seen as a si gnal that ETA would stop 
targeting prison officials, who have 
been victims of attacks by the separatist 
group. 

. Although it fell far short of a cease- 
fire, the announcement was the first 
conciliatory gesture by ETA since its 
kidnapping and killing in July of a coun- 
cilman from die town of Emma, Miguel 
Angel Blanco Garrido, sparked national 
outrage, sending millions of Spaniards 
into the streets in protest 
' The lolling increased public pressure 



By John Vinocur 

Intemational Herald Tribune 

* * HANNOVER, Germany — Gerhard 
Schroeder, who the.poQs say would beat 
Chancellor Helmut Kohl in next year’s 
national elections, is calling for a new 
leadership -triangle in Europe that in- 
cludes Britain. . . - 

Mr. Schroeder, die Social Democrat 
minister president of Lower Saxony,, 
said he had the greatest respect far Bri- 
tain’s desire to be a leader m the Euro- 
pean Union, and recognized the changes 
the new Labour government has made in 
drawing closer to the community. 

’ If tins trend continues', he said in an 
interview, “I think the German-French 
axis, which was important and remains 
so for Europe, must become a German- 
French-Britisb triangle.” 

: This triangle “will make it easier for 
the smaller countries to accept the lead- 
ership role of die bigger states,” he 
said. 

Mr. Schroeder, who still has to win his 
party's designation as its official can- 
didate, said he did not feel that Mr. Kohl 
- had placed too much stress on die 
Aench-German relationship,' but de- 
scribed it “as this policy that lives on in 
this obligatory way.’ ’ 

T “1 would like to see die policy that 
. Kohl has represented — that we’re 
Europeans because if we weren’t the 
others will be afraid of us — - run its 
Course. 1 belong to a generation, and 
there are many .others after me, who are 


Europeans not because they must be, bnt 
because they want to be.” 

Mr. Schroeder, who has little practical 
foreign-policy experience, said that he 
hqd developed an admiring relationship 
widi Prime Minister Tony Blair, and that 
although he had not met Prime Minister 
Lionel Jospin, he was impressed by his 



MV 

Gerhard Schroeder envisions a 
new leadership triangle -in Europe. 


contacts with Dominique Strauss -Kahn, 
die French finance minister, and Jean- 
dande Trichet, governor of the Bank of 
France. 

. Mr. Schroeder’s comments on inter- 
national relations have for background 
his engagement in the early 1980s while 
head of the Jusos, the youth wing of 
German Social Democratic party, in an 
aggressive and frequently anti-Americ- 
an campaign to block the installation of 
Cruise and Pe rshing missiles. 

In the early 1990s, while minis ter 
president of Lower Saxony, he called for 
a cease-fire in the Gnlf War and insisted 
that an Iraqi withdrawal for Kuwait not 
be a condition for a halt in the fighting. 

Now, he says, his views have 
changed. "Many. say it’s opportunism, 
but you can’t be afraid of politicians who 
want to leant something,” he said. 
“Rather, it’s the ones who don’t** 

‘’American policy toward Iraq,” he 
said, “isone that weean support/’ The 
circumstances there now, he said, made 
him think of Germany under fascism. 

“Ninety-five percent of the foreign- 
policy questions wouldn’t be answered- 
difierently by a new government in com- 
parison with the current one,” he said. 

“What should be change in die re- 
lationship between America and Ger- 
many?” Mr. Schroeder said. “In the 
quality of that relationship, there would 
be nothing that would change. It’s in 
foreign policy I’d change the least The 
straggle in Germany is in domestic 
policy." 


GERMANY: For Europe’s Next. Tony Blair, a Hint of Turbulence 


Continued from Page 1 

German' politics and the country’s de- 
bate about its future, 
v What had happened was this: The man 
who usually spends his time responding 
to questions on whether he would be a 
leader more tike Tony Blair or Lionel 
Jospin after national elections next 
September suddenly had to deal with 
simultaneous reports from two influ- 
ential comers of the German press that 
he would not get the Social Democratic 
nomination at alL The passage of time, 
and the Social Democratic Party^ ap- 


paratus, the stories said, were now both reformist approach. 


party’s most powerful vote-getter and 
gifted campaigner. 

Because Mr. Lafbutaine and Mr. 
Schroeder are believed to have agreed to 
work for an image of unity tad not to 
challenge each other, Mr. Schroeder 
seemed to be cast into the role of having 
to go along with a party-line decided and 
fine-tuned by Mr. Lafontaine. Yet as a 
candidate who has talked about bringing 
a risk-oriented culture to Germany, 
opening op the job market and limiting 
the regulatory role of foe government, 
Mr. Schroeder would lose face and votes 
outside foe SPD by toning down his 


woriring for Oskar Lafontaine, foe party 
chairman, who foe same polls show los- 
ing to Mr. Kohl, as he did feebly eight 
years ago. 

Helmut Markwort, eduor of foe news- 
magazine Focus, wrote that -as "much as 
Mr. Schroeder’s nomination - seemed 
certain last month, the wind had. turned 
sharply inside foe SPD, now in Mr. 
Lafonlaine’s grip- _ _ 

The same day, Gu enter B annas of 
regarded 


This contradiction comes info sharp 
focus in early December, when the party 
holds a national convention Mr. 
Schroeder must maintain his indepen- 
dence and point of view with a strong 
speech, while playing a subordinate and 
nonobstractive role in relation' to the 

party chairman.! • 

There is no yield to himin challenging 
the SPD rank and file , before he can 
prove his strength with a clear state 
election victory. In foe- narrow closed 
circuits of a party that has occasionally 


Sueddeutsche Zeitung, regaraea as 
probably the best informed potiticai re- 
Sorter in Bonn, said that four of the five loved ideology more than winning, Mr. 

members of ^ party's 
niittee were behind Mr. Lafontaine and 
that the expectation was growing wifom 
narw that he would be foe SPD 


foe party that he 
candidate. . 

“I’m a great reader of foe press, Mr. 
. — :-v - - — - wide smile. 


apparatchiks, might as well have case 
from Turkmenistan. : 

These circumstances stressed how 
different foe German situation was than 
either those that led to foe success of Mr. 
Blair’s Labour Party in Britain or Mr. 


erhmeder said with a very wide smile. s tjroour rany m Bnwm or iwr. 

Butfotofoe articles shifted foe media JoWsSocialitts aHhokAi party 
IK* ft? campaign from foe.issi.es ****>**«« Mr Blair reformed h* 

and foe electorate as a whole, where Mr. 

Schroeder thinks he is strongest wrfo his 
Blair- like frame of reference, to the 
ternal processes of a party where he has 

few points to win. 

With their authoritative 

vacate of the old orthodoxy - of nun 
■»nd social democratic rigOT, has. started 


chief in Britain. Mr. Blair reformed his 
party to accept much of foe restructuring 
of Britain accomplished during Mar- 
garet Thatcher’s years in- power. In 
Prance, the Socialist electioa;yictoiy in 
May was on a platform that Mr. Jospin 
had himself tevelopedas party leader. In 
both cases, foe party leader, foe party’s 
ud contested candidate and foe party’s 
program were one. 

But in' Germany, the . Social- Demo- 
cratic .apparatus and official platform 
was very much in foe hands of -Mr. 
Lafontaine, while the reformist vocab- 
ulary that seemed to attract the widest 
‘ of voters belonged to Mr. 
ler. Considering that after .15 


years in office Mr. Kohl could hardly 
campaign as a challenger to the status 
quo, the country was left with the lead- 
ership of its two major parties offering 
very familiar alternatives, and foe grow- 
ing possibility that the opposition would 
offer the same approach that brought it 
losses in three straight national elec- 
tions. 

Mr: Schroeder’s team appears con- 
vinced that a strong perfoxxnance in the 
Lower Saxony elections would halt foe 
internal struggle and bring him the clear 

Lafontaine witlurftwo weCks^of a vic- 
tory.' 

They acknowledge that until then Mr. 
Schroeder will be working on two fronts, 
contending with both the chancellor and 
foe SPD chairman. They feel Mr. 
Schroeder has, on his own terms, pre- 
empted wrangling about what consti- 
tutes a strong victory in Lower Saxony 
by saying be would not pursue hiscan- 
didacy iritis score dropped by more than 
two percentage points from the 44 per- 
cent he achieved is winning re-election 
.as foestate’s minister-president in 1994. 
And they are letting it be known that Mr. 
Schroeder has no interest in consolation 
prizes, such as heading a super ministry 
overseeing foe economy in a new Social 

Democratic government. 

Most of all, they are convinced that 
whatever the current lever of self-in- 
volvement of foe party apparatus, foe 
SPD could not, in suicidal fashion, offer 
up a predesignated loser as candidate for 
chancellor. Mr. Lafontaine’s current 
trailing poll numbers against Mr. Kohl 
run at 38 percent, just about four paints 
more than, his score when the chancellor 
defeated him in 1990. . 

But n ominating a chancellor candi- 
date without serious chances of victory 
because of internal party considerations 
is not without precedent in foe veiy 
recent German past. The last time, 
foough.it was foe Christian Democrats, 
who in spite of massive evidence he 
could not win, picked Franz Josef 
Strauss, foe Bavarian conservative, to 
ran against Helmut Schmidt in 1980. 

Mr. Schroeder’s friends note this in 
Spence. 


foe an end to ETA’s 29-year-! 
i for an independent Basque 


cam- 
me- 

More foao'80Q people have been 
killed in that campaign. 

Mr. Blanco, 29, was found mortally 
wounded near the Basque city of San 
Sebastian after foe government in Mad- 
rid refused an ETA demand tear it trans- 
fer about 500 Basque inmates scattered 
throughout the country to prisons in the- 
aufonomous.Basqae region. 

ETA also had targeted prison guards 
andofficials for kidnappings, bombings 
and murders. In July, the police rescued 
a prison worker, Jose Antonio Ortega 
Lara, who had been abducted by ETA 
guerrillas arid held for 532 days in a 
cramped celL 

Interior Minister Jaime Mayor Oreja 
was to meet ^representatives of Basque 
political parties Thursday to discuss the 
government’s policy on rebel prisoners. 

In a commumqnd issued through foe 
radical Basque newspaper Egin, ETA 
announced “foe total suspension of all 
planned actions on foe pnsbn front.” 

ETA called on the Basque people, 
institutions andjxditical parties to take 
direct action “in defense of foe rights of 
die prisoners.’ ’ It warned that those who 
“waste time” and “dwell upon pseudo- 
sotutions” would bear -responsibility 
for the consequences. 


Bishop Denies Link 
To Jfbmaninltaly 

ROME — Italians were riveted on 
Thursday by reports of furtive en- 
counters ana secretly taped telephone 
conversations during an alleged 12- 
year relationship between a high- 
ranking Roman Catholic bishop and a 
women. 

The bishop, Alberto Ablondi of foe 
north eastern city of Livorno amt a 
vice president of. the Italian bishop’s 
conference, denied the allegations as 
'"infamous,” suggesting the woman 
fabricated them because he had 
spurned her advances. 

They allegations were made by 
Laura Magrini, 53, in the popular 
weekly magazine Oggi, and foe story 
reached national media on Thursday. 

Oggi said it discovered the story 
after it anonymously received three 
tape recordings of private telephone 
conversations between Bishop 
Ablondi and Miss Magrini She said 
she decided to tell her story after she 
was confronted with foe tape record- 
ings. (Reuters) 

Romanian Workers 
Protest Reforms 

BUCHAREST — Thousands of 
workers from Romania's main indus- 
trial centers blocked traffic in the cen- 
ter of the capital Thursday to protest 
the government's market reforms. 

“Down with the government!” foe 
7,000 workers shouted in Revolution 
Square. Later, foe protesters, led by 
dozens of tracks and buses, marched 
along foe capital's main boulevards to 
deliver a protest letter at the gov- 
ernment headquarters. 

They charged that living standards 
have gotten worse in Romania since 
foe reformists won power a year ago. 


They had promised to xuake life bener 
by pushing foe country faster toward a 
market economy. 

Prime Minister Victor Ciorbea 
began an ambitious economic pro- 
gram after defeating the former Com- 
munists, who governed after foe 1989 
revolution. f AP) 

2 Foreign Ministers 
Set a Visit to Bosnia 

PARIS — Foreign Ministers 
Hubert Vedrine of France and Klaus 
Kink el of Germany will travel to Bos- 
nia next month before a ministerial 
conference in Bonn bn the peace pro- 
cess in the Balkan country, foe For- 
eign Ministry announced Thursday. 

Mr. Vedrine and Mr. Kinkel will 
travel to Bosnia on Dec. 4, said the 
minisnyspokeswoman, Ann Gazeau- 
Secret. They will prepare for a con- 
ference on ihe Bosnia peace process 
to take place in Bonn on Dec. 9 and 
10. (AFP) 

Paris Police Hunt 
For a Serial Killer 

PARIS — The police in Paris are 
hunting for a suspected serial killer 
who is believed to have struck five 
times in fbe last three years, mur- 
dering and raping four of his victims, 
all of them young women living in foe 
eastern pan of foe French capital. 

The last victim, Estelle Magd, 25, 
was found murdered in her apartment 
Sunday. The police said the woman’s 
throat had been slit and that she had 
been raped by her assailant, as had foe 
other victims. 

“We’re dealing with someone very 
dangerous and totally unpredictable,” 
and investigator said. “He takes his 
time in studying his victims, he knows 
their schedule, their habits.” (AFP) 


Thieves Flee With Cartier Jewels 


. Agence France-Preue 

LONDON — Robbers stole dia- 
monds and gold valued at millions of 
dollars in a bold rooftop raid on a Lon- 
don workshop used by foe jeweler Carti- 
er, foe police said Thursday. 

Media reports quoted unidentified 
experts who said the thieves could have 
taken £100 milli on ($170 million) of 
jewels, but a spokesman for Cartier de- 
clined to make any specific estimate. 

Accounts said two masked men had 
climbed through a skylight and 
threatened foe manager and another 
worker with sawed-off shotguns before 


taking jewels and precious metals stored 
on the fifth floor of the building in 
London’s West End. 

They said the police investigation 
was likely to center on how the raiders 
knew that Cartier was using foe 
premises in New Bond S freer, which 
bore the name English Art Works, to 
store and work on diamonds before they 
were set in jewelry. 

Scotland Y-ard said neither of foe em- 
ployees, who were tied up by foe 
thieves, had been hurt It said one of 
them eventually bad freed himself and 
called Cartier headquarters. 


The II IT Desk Diary 
For the time of your life. 



Half your life ’s story — or even more — is 
inscribed on the pages of your desk diary. Yet 
when you travel or go to meetings, most desk 
diaries are too cumbersome to take along. 

That's why the International Herald 
Tribune — constantly alert to the needs of 
busy executives — had this desk diary 
especially designed for its readers. Bound in 
luxurious silk-grain black leather, it's perfect 
on your desk, offering all the noting space of 
any standard desk diary. Yet pick it up and 
you 'll find it weighs a mere 400 grams ( 14 oz ). 

No voluminous data and statistics are 
included m this diary \ but on the other hand a 
removable address book saves hours of re- 
copying from year to year. 

Note that quantity discounts are available. 
Please allow three weeks for delivery. 



■ •'Diary measures 21 x 15cm (8^x6 in.k 
' fits easily into the slimmest attache case. 
'•Padded black leather cover with gilt metal comers. 
• French blue paper with gilded page edges. 
' - Blue ribbon page marker. 

• Week-at-a-glance format with plenty of space for daily appoint- 

■ merits. Includes full current year and forward year planners. 
• 14 pages of useful international data: over 140 international 
telephone dialing codes and country prefixes; notable dates and 
national holidays for over 90 countries: conversion tables of weights. 
' .measures and distances:' world 

■ time-zone lable- 

• One of foe diary's most pop- 
ular features,the wine Outage 
chart Tates the ten best-known 

wines from 1945 to 1995. ' 

• The removable address book, 

neatly fitted in a blue silk ; 

.pocket, can be earned forward : 

from year to year. ' 

• Corporate personalization and - 

'. dtscounls aremflailablel 

■FOr details, faxPaul Baker at ! 

• (44 181) 944 8243 or Email: : 

paulbaker@btintemet.com . 



_ 1998 IHT Desk Diaries. 

Dice includes initials, parking and postage in Europe: 

1- 4 diaries UK £35 (lj.S.$56) each initials 
5- 9 diaries UK £33 (U.S.S52) each u p»3pcr*« y 

10-19 diaries UK £31 (U.S.S49) each 1 || | 

I — 1 Additional postage for delivery ouiskJe Europe £7 

(U.SJSI 1 20). 

I — I Check here for delivenr outside Europe by registered or 
certified mail: £5.75 (U-S.S9.20) per package plus prarag* 

Payment is by credit card only. All nuijor cards accepted. 

Please charge to my credit card: 

CD Access Q Amex ED Dinars 

EH Euroand CD MsaaCfen) CD Via 

CandN 0 : ; 

Exp Signature ' 

Name 


Address. 


aty/QxWCounny. 
TelTFax • 


npany EU VAT ID N" 

; CORPORATE PURCHASES) 


21-11-97 


Personalized with gilt initials on the cover, 
it's an elegant gift for friends, business contacts 
' and associates- — and for yourself 


Hcralh*a^te,Eribuuc. 

TBBWCWJSIXIIP'NEWSPABER 

Mafl or fax this order form to: 
International Herald Tribune Offers. 

37 Lambtoa Road, London SW20 0LW U.K, 
Fax; (44 181)9448243 
E-mail: paulhak«r®btiutenKLcom 



PAGE 8 


FRIDAY, NOVEMBER 21, 1997 


EDITORIALS/OPINION 


Itcralb 


INTERNATIONAL 



tribune 


./ 

»• 

lu 

a 

-l 

»:■ 

v 

Ur 

y» 

oi 

n! 

.’j 

tr 


nWJSHHD WITH THE IMBW TURK TtMKS AND TUK WASHINGTON POST 


Asian Virus Spreads 


The financial chaos buffeting Thai- 
land, Hong Kong and other small 
Asian economies posed little threat 
outside the region, but the contagion 
has hit Sou* Korea, the world’s 11th- 
largest economy. South Korea’s mis- 
fortune has already shaken Japan and 
other countries. 

Unlike Mexico’s recent troubles, 
Asia's crisis reflects problems in the 
private sector more than reckless mon- 
etary and fiscal policies. Less gov- 
ernment spending and tighter mone- 
tary policy are not the answer. The 
pressing need in South Korea and its 
neighbors is to stabilize their banks, 
with the help of the International Mon- 
etary Fund, thereby quieting the fears 
of investors and depositors, whose 
panicky withdrawals could endanger 
institutions essential to commerce. 

In South Korea, companies raise 
money primarily by borrowing heavily 
rather than selling stock. The loans 
come from domestic banks whose lend- 
ing decisions are based more on gov- 
ernment pressure and personal relation- 
ships than on dispassionate business 
calculations. The strategy worked well 
in the 1970s and ’80s, but has now been 
carried to excess. South Korea's banks 
carry a crippling burden of bad loans. 


scaring depositors and driving foreign 
investors to withdraw their money. 

South Korea needs to stabilize its 
banks, pumping in whatever reserves 
are necessary to reassure depositors that 
their savings are safe. On Wednesday it 
took some timid, disappointing steps 
toward this goal It might also need to 
let its currency, which has already con- 
tracted by about 20 percent, drop fur- 
ther to keep its exports and economy 
afloat. That will require forbearance in 
the United States, which will see its 
exports to the region fall and imports 
rise. But the Federal Reserve Bank can 
offset the impact of diminished exports 
by easing monetary policy. 

The Clinton administration has so 
far responded appropriately. It has re- 
sisted bailing out South Korea directly, 
instead insisting that South Korea, like 
Thailand and Indonesia, seek aid from 
the IMF. But South Korea, for reasons 
of domestic politics, has resisted 
reaching out to the fund because IMF 
loans come in exchange for stringent 
commitments to fix banking and other 
financial imbalances. If South Korea 
waits too long, and the economy sinks, 
the consequences will spread far be- 
yond its borders. 

— THE NEW YORK TIMES. 


Oil Plus Democracy 


At a meeting with reporters on Wed- 
nesday, aides to visiting President Nur- 
sultan Nazarbayev handed out a press 
release from the producers of the 
movie “Air Force One’ ’ that portrayed 
Kazakhs as terrorists. “The movie is 
purely fiction,’’ the press release re- 
ported. “It would be regrettable if 
lie came away from ‘Air Force 
ie’ with the wrong impression about 
Kazakhstan or its government.'' 

Mr. Nazarbayev’s eagerness for a 
correction from Hollywood coincided 
with one of the missions of his meeting 
with BUI Clinton on Tuesday: to lobby 
for greater American interest and a 
larger American “strategic presence,'* 
as he said, in his part of the world. 

Kazakhstan is the biggest of the 
former Soviet republics after Russia{it 
is about as big as Western Europe), and 
its oil reserves may rank second only to ' 
Saudi Arabia’s. But it has a population 
of less than 17 mil lion (and declining), 
and it feels itself the object of not 
always charitable interest mom Russia 
to the north, Islamic fundamentalists to 
the south and China to the east. In this 
context, a more active U.S. role is seen 
.as offering welcome balance. 

The United States reciprocates the 
desire for a warm relationship, primar- 
ily because U.S. officials view oil and 
gas from Kazakhstan, Turkmenistan 
and Azerbaijan as welcome alternatives 
to Middle East supplies. U.S. troops 
participated in military exercises in 
Central Asia this year, and more war 
games are planned for next year. Hillary 
Clinton recently toured the region. 

The central question for U.S. and 
Kazakhstan officials is how to get the 
oU to market New pipelines will have 
to be built, and whoever controls them 
reigns supreme. The current Clinton 
administration goal is to have the 
Caspian oil flow west without crossing 


either Russia or Iran. Such a pipeline 
would have to travel along the Caspian 
Sea floor, at far greater expense than a 
route south through Iran. And since 
both Iran and Russia border on the 
Caspian, any plan that flouts both of 
them presents a sizable diplomatic 
challenge. Mr. Nazarbayev said he is 
willing to see whether Americans can 
line up financing and international sup- 
port for such a route by next fall, but his 
main concern, he made clear, is selling 
his oil, through Iran if necessary. 

In the U.S. zeal to line up oil deals 
and strategic partnerships, not much is 
said these days about democratic de- 
velopment. That is a pity, because the 
kind of one-man rule taking shape in 
much of the Caspian-Central Asian re- 
gion runs counter to basic U.S. values 
and is conducive to massive corruption 
and an inequitable, and in the long run 
unsustainable, division of oil riches. 

Mr. Nazarbayev is far from the worst 
offender in this department; his gov- 
ernment has been fairly respectful of 
ethnic minorities and willing to tolerate 
a degree of criticism and opposition. 
But neither has Mr. Nazarbayev, who 
transitioned smoothly from Commu- 
nist Party boa to first president in 
1991, offered a model of democratic 
tolerance. A couple of years ago he 
suspended Parliament and ruled by de- 
cree for nearly a year, he held a ref- 
erendum to extend his rule, without re- 
election, to the year 2000; many ob- 
servers expect him to keep control into 
the next century, evading his nation’s 
two-term limit by claiming that the 
clock started afresh with the adoption 
of a new constitution in 1995. 

Businessmen and U.S. officials 
found much to praise in Kazakhstan’s 
stability. It would be nice to hear a bit 
more about democracy, too. 

— THE WASHINGTON POST. 


TWA 800 Case Closed 


The stated reason for the FBI’s ex- 
traordinary news conference on Tues- 
day was to announce the termination of 
its 16-monfo criminal investigation in- 
to the 1996 explosion of TWA Flight 
800. Its real purpose was to persuade 
skeptical Americans that the explosion 
was not a terrorist act. 

The evidence may not convince 
everyone. As James Kallstrom, the as- 
sistant director who conducted the in- 
vestigation, told The New York Times, 
“we live in a world that is so skeptical 
now of everything that is done.” But 
the FBI acted on the right impulse 
when it chose to shore its voluminous 
evidence rather than ask the public to 
accept its verdict at face value. 

Mr. Kallstrom summarized the re- 
covery effort that removed a million 
aircraft pieces from the ocean floor and 
the exhaustive forensic search for ev- 
idence of a bomb. Bui the high point 
was a video simulation of the fatal 
explosion that vividly recreated what 
many witnesses said they had seen that 
night, including streaks of light near 
the plane just before the explosion. 
Those accounts gave rapid rise to the- 
ories that the aircraft had been de- 
stroyed by a missile attack, either from 


a terrorist in a boat off the shore of 
Long Island or from friendly fire in a 
military training exercise. 

According to separate analyses by 
the FBI and the CIA, the witnesses 
never actually saw the plane explode. 
They looked up at the sound of the 
explosion, but because sound travels 
more slowly than light they were 
watching the aftermath of the explo- 
sion. What witnesses believed to be 
missiles streaking toward the plane 
were actually the flames and fire trails 
left by the plane's breakup. 

The FBI obviously wants to put the 
bomb and missile theories to rest. Mr. 
Kallstrom believes that nobody is in a 
better position to do so than the FBI, 
not least because the agency originally 
believed that Flight 800 had been de- 
liberately sabotaged, and then spent 
$14 million proving itself wrong. “I 
thought early on that there was a very 
high probability that it was a bomb, and 
I think everybody in America did. ’’ 

The FBI has been justly criticized in 
recent years for erratic and often furt- 
ive behavior. This time it appears to 
have acted with admirable thorough- 
ness and openness. 

— THE NEW YORK TIMES. 


-Tfr INTERN ATTiJN U. • < 

ltcralo*a^&ribune 

■uim urn n» wa m n»« *«o m «-««■ mt 

ESTABLISHED /M 7 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 
Co-Charmen 

KATHARINE P. DARRO W, Vice Chairman 

RICHARD McCLEAN, Publisher Je Chief Executive 
MICHAEL GETLER, Executive Editor 

• WALTER WELLS. Managing Editor m PAUL HORVTTZ, Defray Managing Editor 
i KATHERINE KNORR antCHARLES MTTCHELMORE. Deputy Editors • SAMUEL ABT and 
CARL GEWIRTZ. Asavute Editors • ROBERT J. DONAHUE, Editor of the Editorial Pages 
• JONATHAN GAGE, Business and Finance Editor 
• RENE BONDY. Deputy PubUslur 

m JAMES McLEOD, Advertising Director ■ ESDIER BRUN, emulation Director. 
Dtrectew dcla PuNkutivrr Richard McCtean 


International Herald Trihme. 151 AvcnaeQnrleSKle<5auIJe,9^2l N’nrilty-snr-Seiiie, Prance. 
T± IU4M3.4U0L ft* Subscript, iMMULMt Admass^ (1)41.4192. l£ News. (D4L433JJ8. 
Internet address: (fl^cffwwwjhtcom E-Mai: flM@ita.wni 

Editor JvrAsu: Ntcftiri ftriwftthw . J CiMrtsv Kd, Stt&pm I / WW W FurffiJJ 174-1334 

Met Dk.Aba.RtfD KmatpuU. 50 Gkmxst v ft/. Haag kmg. Td. SHJCMMS. Foe 952-2S22-IIW 
Gen. Hv (fawn I Sd&ur, Fndikko. If. 60323 FiudfirtM. Td. + 49 flflW 12504). Fa *49tBN7CSD20 
Pm US. Jfcfclrf C, error. Sr) Third Are. Sen- York. N Y 10022 Tel. <2/2 1 752-3990 Fa r. (2 12) 755-&78S 
UK. Advnttmg Office; 6} Long Am. London V/C2. Tel. f 171 ) 836-4802. Fax: 1 171} 240-2254 
SAS m capital de I20QJXK) F. RCS Niinurrc B 732021126. Comaissm Paritairr No. 61337 
QIW7, IntemUMud Hmkt Tr&uee AS risks raervtd ISSN: 0294-9032 



Work to Revive Rabinism and Curb Saddamism 


W ASHINGTON — Saddam Hus- 
sein is flat on his back from a war 
he started and lost seven years ago. Yet 
he has just managed to evict the UN 
weapons inspectors whose job it is to 
ensure that he never again acquires 
weapons of mass destruction, ana be is 
now deep in negotiations with the 
United Nations over what it will give 
him to let the inspectors back in. 

On top of it all, America’s lawyers in 
this negotiation, France and Russia, are 
Saddam's business partners. 

Maybe there is a Clinton strategy 
unfolding here. Maybe the United 
States is just letting the Russians play 
out their diplomatic string one last time, 
so that no one can say Washington did 
not give every opportunity for diplo- 
macy, and then the United States will 
do whatever it takes to get Saddam to 
obey the United Nations. Maybe. • 

But the reason one has to worry is 
that this administration has been drift- 
in gin the Middle East 
The Clinton team’s problem can be 
reduced to the following: Yitzhak Ra- 
bin died and Saddam Hussein didn’t 
U.S. policy was predicated on die op- 
posite happening, and Washington has 
never adjusted to the fact that it hasn’t 


By Thomas L. Friedman 

For four years, U.S. Arab-Israeli 
policy was to follow behind the bull- 
dozer of Mr. Rabin. He cleared the 
road, he took the political flak. Amer- 
ica followed in his wake, helping at the 
margins. After Mr. Rabin was killed, 
though, the Clinton team was never 
ready to become the bulldozer itself. 

It was never ready to say to Pal- 
estinians, Arabs and Israelis that they 
had all deviated from die path that Mr. 
Rabin was plowing. Thus the United 
States is either going to press them 
back onto that road or simply walk 
away and let them nakedly face each 
other and their own publics without any 
peace process. So Rabinism collapsed, 
but Saddamism survived. 

“Seven years ago Saddam had 
frightened the Arabs into accepting Pax 
Americana,’’ says a Middle East ex- 
pert, Stephen P. Cohen. 

“After all, the only political system 
left in the Arab world after Saddam blew 
up the whole neighborhood was the 

S > Litical system centered around the 
nited States and its friends. Rabin 
made it easy for the Arabs to join that 


system by movii 
Now, seven ycarslater.the United States 
needs a new, integrated policy to keep 
Rabinism alive and Saddamism down. 

“The longer Saddam is in power, the 
more there is a temptation to bring him 
back into the Arab political fold, where 
different Arabs can use his weight 
a gains t each other and against Israel, 
And the more Rabinism is dead, die 
easier it is for die Arabs to justify 
moving from Pax Americana rack to 
the old system.’* 

And the more the sanctions go on 
without toppling Saddam, the more the 
Europeans and Arabs conclude that be 
is not going away and therefore they 
should be the first on their block to 
benefit from his survival. 

Having reached this point, the 
United States has only bad options. 

Virtually any diplomatic solution 
that involves Saddam restoring the UN 
inspection regime in return for an eas- 
ing of sanctions will end up strength- 
ening him as a symbol that the world, 
and particularly the Arabs, cannot af- 
ford. And any military solution that 
targets either him personally, his mil- 
itary or his known weapons caches 
might not necessarily get at all his 


weapons and would require a lucky 

shot to get him. What to do? 

. If Saddam does not back down, and 

America’s choice is between an im- 
perfect military solution ana an 
perfect diplomatic one, using decisive 
force until he is ready to uncondition- 
ally restore (he UN inspectors would be 

more effective. Let’s not exaggerate “is 

toughness. When U.S. aircraft earners 

started moving, he started blinking- 
The only diplomatic solution mat 
might have any credibility is one that 
returns the weapons inspectors, in- 
creases humanitarian aid to the Iraqi 
people and is accompanied by an in- 
dictment of Saddam as an international 
war criminal who will be ostracized, 
including by France. Russia and the 
Arabs. That win at least draw a line 
between Saddam and the Iraqi people. 

That is not great, but it is about as 
good as you will get diplomatically. 

It is a tough pall, and we armchair 
generals all have to acknowledge foat. 
All one can ask is that as America makes 
rhia nail it keep this in mind: A solution 
that does not revive Rabinis m and curb 
Saddamism, militarily and symbolic- 
ally, paves (he way for the next crisis. 

The Nevt York Tones. 






i ; 




Global Ambition and Isolationist Politics Don’t Mesh 


P ARIS — The United States 
no longer has the political 
mftans to function as the leading 
power in world affairs. That 
would 1 seem demonstrated by 
the events of recent days. 

The American public, in 
principle, favors international 
leadership, but die Congress it 
elects displays no serious in- 
terest in international matters, 
will not pay for American lead- 
ership, and will not tolerate mil- 
itary casualties in support of it 
It is dangerous for Americans 
not to recognize that an (insur- 
mountable gap has opened be- 
tween what foe country's lead- 
ers, and foe president’s ad- 
visers, say about exercise of 
global responsibilities and the 
willingness of foe public, as rep- 
resented in Congress, to subor- 
dinate domestic considerations 
to a foreign policy of substance. 

This is true even though the 
Clinton administration has all 
but completely subordinated its 
foreign policy to foe interests of 
business and political lobbies. 
Defensible as fois might be in 
terms of democratic responsive- 
ness, it has resulted in making 
America vulnerable to adven- 
turers like Saddam Hussein. 

The Iraqi president has suc- 
cessfully whipsawed the Clin- 
ton administration so as to di- 
vide it from America’s allies, 
lighten UN sanctions on Iraq, 
reveal the political limits on 
U.S. military power, weaken 
the American position in the 
Middle East generally, and 
strengthen that of Russia. It has 
been a formidable three weeks’ 
work by Saddam. 

At this writing, a possibility 
remains that things could yet go 
wrong fra: foe Iraqi president. 
But the political downside to 
unilateral American military 
action against Iraq, and the in- 
herent lack of utility in simply 
bombing and rocketing a coun- 
try you are unwilling to invade, 
makes foe above assessment of 
foe Iraqi president's gamble 
seem reasonably solid. 

“Dual containment," foe 
American program to block 
both Iraq’s and Iran’s influence 
in foe Near East, is failing, with 
American or American-led 
sanctions against both countries 
slipping. Dual con tainme nt no 
longer commands much sym- 
pathy among America’s Euro- 
pean allies, and has virtually no 


By 'William Pfafif 


support from the Arab govern- 
ments which backed Washing- 
ton in foe Gulf War. 

Washington’s claim to be a 
disinterested ally of the mod- 
erate Arab states and an im- 
partial arbiter in the Palestinian - 
Israeli conflict is no longer sus- 
tainable. Hie government of 
Benjamin Netanyahu has inter- 
preted its electoral mandate as 
authorizing effective abandon- 
ment of foe so-called peace pro- 
cess launched by foe Oslo ac- 
cords and foe White House 
agreement of 1993. 

The United States has acqui- 
esced in this change chiefly be- 
cause of overwhelming con- 
gressional pressure, although 
presidential electoral consider- 
ations have entered into it The 
result is that Washington is no 
longer accepted as an impartial 
interlocutor by foe Arabs. 

Washington's connection 
with Saudi Arabia, which has 


been its principal regional ally, 
and with certain of the fragile 
emirates failed to produce any 
support for military action 
against Saddam. Even in Riy- 
adh it has begun to be grasped 
that Saudi Arabia's alliance 
with foe United States threatens 
to become the same suffocating 
embrace that proved fatal to an- 
other conservative . American 
client, the shah of Iran. 

The Clinton administration 
bears responsibility in all of this, 
but the diligently self-destruct- 
ive parochialism and national- 
ism of Congress has made the 
largest contribution to foe situ- 
ation, and foe American public 
elects foe Congress it wants. 

Last week, before it ad- 
journed, Congress rejected pre- 
viously agreed legislation to 
pay part of long-overdue UN 
dues and offer a new credit line 
to foe IMF. This was done for 
domestic political motives. 


The greatest student of 
American democracy, Alexis 
de Tocqueviile, wrote 150 years 
ago that “almost all foe defects 
inherent in democratic institu- 
tions are brought to light in foe 
conduct of foreign affairs." 
Thai is a judgment which foe 
past 50 years of world crisis 
have tended to obscure, but 
which foe last 10 years have 
validated. 

World war and the Cold War 
united most Americans on for- 
eign policy from 1941 to 1990, 
creating general support for 
presidential policies. The war in 
Vietnam was foe single, if cru- 
cial, exception, but even then 
support for foe president did not 
crumble until foe Tet offensive, 
some eight years after Amer- 
ica's direct involvement in the 
war began. 

Since foe collapse of com- 
munism, that unity has faded. 
The United States has lapsed into 
foe preoccupation with domestic 
concerns mat marked the de- 


cades from foe Civil War to 
)04i Enthusiasm for foreign ad- 
venture was briefly aroused dur- ^ } 
ing the war with Spain in 1898, f 
and again from 1916 to 1919. 
Otherwise domestic priorities 
prevailed, as they do today. 

Isolationism is a defensible 
policy. However, one cannot 
practice isolationist politics 
and globalist amb itions at foe 
same time. 

There is a fundamental con- 
tradiction between what the 
United States is attempting to 
do to lead the world, and what it 
is able or willing to do in sup- 
port of that claim. 

It will not pay for its policies. 

It will make no serious sacri- 
fices for them. The policies 
themselves are too often vain 
and intellectually unsustainr li- 
able. For Washington to con'i 
tmue on such a course risks not 
only discredit but permanent 
damage to foe national interest 

International Herald Tribune. 

Los Angeles Tima Syndicate. 


America Is Defied, but Business Gets Done 


D OHA, Qatar — Despite all 
the heavily armed ship 
and planes in foe Gulf, and the 
diplomatic arm-twisting, foe 
United States has given the im- 
pression of a paper tiger lately. 
Only a few weeks ago, com- 
plaints echoed around foe world 
that it was behaving with ar- 
rogance. Suddenly, leader after 
leader shows foe belief that 
America can safely be defied. 

Iraq’s Saddam Hussein has 
been foe most dramatic and of- 
fensive, of course, but he is not 
the only one. 

Secretary of State Madeleine 
Albright invested a tremendous 
personal as well as official ef- 
fort to bring friendly Arab states 
to foe fourth middle East-North 
Africa (MENA) economic con- 
ference. But most of foe gov- 
ernments boycotted the meeting 
here, organized by foe World 
Economic Forum, to protest 
against Israeli policy on peace 
negotiations. 

The abstentees included not 
only Saudi Arabia and Morocco 
but also Egypt, which receives 
$2 billion a year in American aid, 
and foe Palestinian National Au- 
thority. Israel sem a delegation. 


By Flora Lewis 


bm its foreign minister refused to 
lead it Mrs. Albright had to 
hopscotch all around foe region 
to see the people she would have 
met here, trying to put a little 
starch back in the frayed Gulf 
War anti-Iraq coalition. 

Israeli Prime Minister Ben- 
jamin Netanyahu refused to 
budge in response to American 
pleas to get serious on making 
peace. Mrs. Albright warned 
here that “time is not on our 
side,' ’ but Mr. Netanyahu evid- 
ently does not believe that the 
Clinton administration would 
do anything about it that would 
inconvenience him. 

The UN Security Council 
managed to agree on another 
mild resolution on Iraq, but 
more because Saddam was so 
provocative than because 
Washington was persuasive. 
European allies are getting un- 
easy about maintaining sanc- 
tions on Iraq, and just don’t buy 
American sanctions on Iran. 

Even foe U.S. Congress 
thumbs its nose at Bill Clinton, 
denying authority for convih- 
e free trade negotis 


cmg 


negotiations. 


How the Labor Game Is Rigged 


N 


■EW YORK — The un- 
oyment rate in foe 
United States dropped to 4.7 
percent in October, foe lowest 
it has been in 24 years. In- 
flation has, for all practical 
purposes, vanished. Alan 
Greenspan continues his mad 
hunt for the dragon of wage 
inflation, threatening always 
to kill it, but he can't find it. 

Economists who argued for 
years foot a drop in unem- 
ployment below the “natur- 
al” rate of 6 or 6.5 percent 
would inevitably lead to ac- 
celerating rates of inflation are 
furiously grinding out learned 
papers (explanations and ra- 
tionalizations) that mig ht to be 
published under the collective 
title “Never Mind.” 

That is the good news. The 
not so good news is in a report 
last week by the Economic 
Policy Institute in Washing- 
ton. It found that persistently 
high unemployment continues 
to plague low-wage workers. 
Some groups, including young 
African-American women, 
are experiencing disastrous 
levels of unemployment 

Jared Bernstein, a labor 
economist and author of foe 
institute’s report, noted that 
foe continuing job squeeze at 
the low-wage level has om- 
inous implications for the so- 


By Bob Herbert 


called welfare-to-wozk initi- 
atives that so many politicians 
are pushing with such vigor. ■ 

“If workers with a similar 
labor market profile to welfare 
recipients are already facing 
difficulty finding work, our 
expectations regarding the 
success of welfare-to-work 
might be somewhat tempered. 
As one example, note that 
while overall unemployment 
has averaged 52 percent over 
the past year, unemployment 
among young African-Amer- 
ican women (ages 15 to 25) 
with a high school [diploma] 
was 19.7 percent” 

Half foe women who have 
been on welfare for an ex- 
tended period of time do not 
have high school diplomas. To 
throw them and their children 
off welfare while pretending 
that their job prospects are 
anything but bleak is irre- 
sponsible, potentially tragic. 

The report touches on a 
point folly understood by 
economists: national policy to 
restrain growth and kero un- 
employment artificially high. 

“Fearing inflation, foeFed- 
eral Reserve Board has used 
monetary policy to keep un- 
employment rates unneces- 


sarily high." it says, “thus 
dampening potential wage 
growth among those who ben- 
efit most from tight labor mar- 
kets: low- wage earners.” 

The interests of the monied 
classes will trump foe interests 
of the lower classes every 
time. Alan Greenspan’s pur- 
pose is to protect foe assets of 
the very walfoy. The value of 
those assets erodes with every 
uptick in foe rate of inflation. 

Never mind thai a modest 
increase in inflation may be 
the result of a growing econo- 
my that is providing jobs and 
higher real wages for millions 
of additional Americans. Let 
unemployment slip a little for- 



Greenspai 
rates to slow foe economy and 
halt that modest improvement 
in foe quality of life for or- 
dinary working Americans. 

The game is rigged against 
those at the bottom, and hardly 
anyone talks honestly about it 
The welfare recipient, all good 
intentions, gets up in the morn- 
ing and goes off in search of an 
endy-level job, not knowing 
and in her eagerness not sus- 
pecting that foe game is rigged 
at foe very highwrt levels of foe 
national government. 

The New fort Times. 


Worse, just when America 
really needs tTN support it 
reneges on foe agreement to pay 
most of its UN debts and to 
resupply IMF resources to deal 
with spreading financial crises. 

■ These stalemates do nobody 
any good, not foe United States 
and not foe others. They do 
highlight the real limits on foe 
lone superpower’s influence, 
but they do not advance foe 
need for a better-ordered, bet- 
ter-off world. It is still true that 
America is, in President Clinr 
ton ’s words, foe * ‘indispensable 
nation.” If the U.S. president 
cannot or will not act, nobody 
else will get on with the job. 

Mr. Clinton has maneuvered 
himself into a lose-lose situ- 
ation on Iraq, aggravated by the 
loss of hope for an Israeli-Pal- 
estinian solution. 

Shimon Peres, Mr. Netan- 
yahu's predecessor, was here, 
radiating optimism that peace 
will come “sooner than yon 
think because there is no al- 
ternative. " He is an icon now to 
foe Arabs, but his confidence is 
not cod (agio us. He is more a 
symbol of their disillusion. 

Yet some things do continue 
to move — essentially, com- 
merce. Nearly a thousand busi- 
nessmen turned up in Doha, and 
they did a lot of business. They 
called it a success. 

For all the complaints about 
globalization, foe argument was 
dial politics must not be al- 
lowed to get so much in the way 
of economic exchange and de- 
velopment, which are changing 
the world. There was an atmo- 


sphere of relief at being able to 
get down to foe nitty-gritty of 
deals and projects, in place of 
high-sounding rhetoric. 

The euphoria of foe previous 
MENA meetings, which fo- 
cused on foe inclusion of Israel 
and visions of what cooperation 
could bring, was gone. There 
was no decision on foe site of 
foe next meeting. 

At foe 1995 session, a few 
days before Prime Minister 
Yitzhak Rabin was assassin- 
ated, there was intense rivalry 
between Egypt and Qatar t][ 
host foe next conference. Egypt 
won for 1996, but fois year it 
sought to call it off. 

Nonetheless, the pressure to 
attract trade and investment to 
foe region almost guarantees 
that MENA will go on. The day 
after foe huge attack on tourists 
in Egypt, interest remained high 
in discussions of how to cooper- 
ate on promoting the vital tourist 
industry throughout the area. 

With foe exception of Israel, 
most of the countries have been 
economically stagnant in the 
last two decades. It isn’t ac- 
ceptable, and neither stride^ 
nationalism nor fundamental- 
ism has shown itself able to do 
any better for foe people who 
want out of foe doldrums. 

■ Politics can promote eco- 
nomic advance, or im p eri l it 
The two cannot be separated in 
global affairs. But for all foe 
blockages and resentments, 
Doha has shown that there are 
people willing and able to push 
aside barriers to growth. The 
U.S. administration is righ t to 
do it best to support them. 

Flora Lewis. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 

1897: Zola’s Names ference with President Harding 

concerning foe situation. The 
Han s activities are directed es 
luckily against the Catholics o, 
the State, and it intends to make 
a desperate effort to defeat Sen- 
ior Joseph E. Randall « 


PARIS — M. Aodfe Sagnier,- 
former manager of foe Bibli- 
o&que de Propagande R6pub- 
ticaine, has asked the police to 
seize foe numbers of foe Jour- 
nal in which M. Emile Zola's 
Paris has appeared. He com- 
plains that the novelist has 
made use of his name for one of 
his characters. M. Zola has in- 
formed that in future be will 
spell foe name without a “g.” 
M. Zola had. once before to 
modify tiie name of one of his 
characters in Pot-Bouille. A 
certain ML Duverdy objected to 
his name appearing in a noveL 

1922: Klan’s Threat 

WASHINGTON — So serious 
has become the domination of 
theKu KJnx Klan in Louisiana, 

^Stete^yventment, that Gov- 

ernor John M. Parker has come 
.to Washington and had a coo- 


aior Joseph E. Randsell, a Cath- 
ode, for re-election in 1924 . 

1947: Just Married 

LONDON — Princess Eliza- 
bet h, twen ty-one-year-old heir- 
ess-presumptive to foe British 
married today 
PJov. 20] to Lieutenant Philip 
Mountbatteo, a former Greet 
pnnee and now foe sixth Duke 
of Edinburg, in a ceremony of 
dazzhng bnlhance at Westmin- 
ster Abbey, The young couple 
were pronounced “man and 

at J 1:45 ajatas 
Big Ben tolled foe . 
quarter-hour. Tonight,' SV 
“^weds began S 

GmemlofS”' Govera °r 









1 






INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21. 1997 


OPINION /LETTERS 


P4CE9 


H 




i' 


4 


If Europe Really Cares 
About Its Southeast 


By J.F. Brown 


THE WORiP’S O-iMATi. 
JS CHAMsIAlG// 


O XFORD, England — The 
Danish foreign minister, 
Niels Heiveg Petersen, has come 
out strongly against the European 
Union’s invitation for member- 
ship to only selected East and 
Central European countries. He 
advocates negotiations with ail 
the aspirants, including Bulgaria, 
Latvia. Lithuania. Romania and 
Slovakia. He is right. 

At a summit meeting in njid- 
December, West European lead- 
ers are due to decide which coun- 
tries to admit in the first wave of 
new entrants. Formal enlargement 
negotiations with the countries se- 
lected will begin next year. 

The European Commission, the 
EU’s executive body, is proposing 
that only five former Communist 
countries — the Czech Republic, 
Estonia, Hungary, Poland and 
Slovenia — together with Cyprus 
should be invited in the first wave. 
The North Atlantic Treaty Orga- 
nization, likewise, is inviting only 
three countries — the Czech Re- 
public, Hungary and Poland — to 
be its first new members since the 
end of the Cold War. 

Both the EU and NATO are 
shortsighted. Instead of initiating 
a process that moves toward even- 
tual European unity, they are cre- 
ating a selective system that will 
not heal divisions but will per- 
petuate and exacerbate them. 

No one would suggest admit- 
ting all countries at once. The five 
countries named by the EU are 
those that most closely fit the re- 
quired selection criteria. 

But why can't negotiations 
with the other candidates be 
opened as well? It would leave 
them in no doubt as to what they 
must do to strengthen their cre- 
dentials. They should also be giv- 
en deadlines for standards to be 
reached and requirements to be 
met. as well as likely dates for 
entry. This should give the can- 
didates something to work for. 

Without such motivation, the 
psychological and material im- 
pact could be devastating. Some 
or all of these countries might 
simply give up hope. They might 
start behaving as if they were un- 
wanted, directing themselves 
away from democracy and a mar- 
ket economy toward populism 
and still more organized crime. 

A special word needs to be said 
about Bulgaria. Bulgaria suffered 
heavily from its last post-Comrau- 


flist government, elected in 1994, 
which could not shake off the 
mind-set of the previous era, bring- 
ing the country to the brink of 
destitution. Bur the Bulgarian 
people, through peaceful demon- 
strations , forced early elections and 
voted for a promising new team. 

The EU and NATO should en- 
courage this development and 
Bulgaria’s new mood of cautious 
optimism by startin g preliminary 
entry talks. 

Bulgaria’s claims for inclusion 
in both organizations are every bit 
as good as Romania's. Its foreign 
policy record since 1 98 9 has been 
exemplary, and its strategic im- 
portance is likely to grow. Ro- 
mania is sponsored by France, 
which can usually turn its dip- 
lomatic-nuisance value to good 
account Let common sense, vi- 
sion and. justice produce sponsors 
for Bulgaria, too. 

The West also needs to look 
further. Peace in the Balkans, for 
instance, depends on the survival 
of Macedonia. If Macedonia dis- 
integrates, a degree of domestic 
and international conflict is in- 
evitable. Unless Macedonia be- 
gins treating its large Albanian 
minority — 23 percent of the pop- 
ulation — with the fairness it de- 
serves, the country will lapse into 
chaos early in the next century. 

No one suggests putting Mace- 
donia on any current list of 'EU 
or NATO possibles. But including 
it in preparatory talks in Brussels 
could give Macedonia an incent- 
ive for concessions to the Albani- 
an minority. 

The ultimate question is wheth- 
er NATO and the EU are at all 
interested in southeastern Europe. 
If they are, they should stop mak- 
ing excuses for their inaction — 
Greek sensibilities, groaning 
agendas, bureaucratic overload, 
stretched expenditures, prickly 
legislatures. They should show 
that they do not just extend stability 
where there is enough of it already, 
while shying away from genuine 
trouble spots. 

Is that “hour of Europe” strik- 
ing again, or is it die death knell 
we are really hearing? 

The writer, formerly a director 
of Radio Free Europe and a senior 
analyst at the International Com- 
mission on the Balkans, contrib- 
uted this comment to the Inter- 
national Herald Tribune. 


EMISSIONS PROM OUR 
CARS ANP FACTORIES 
ARE PARTLY 

mTJUS 

* GLOBAL 


IF WE ACT 

VIE MIGHT JUST . 

mm pi /m! 



Print the Whole Truth, 
But Do It Decently 


Bv Geneva Overholser 


LETTERS TO THE EDITOR 


Perspectives on Iraq 

As an Arab who has lived in the 
West for more than 25 years, I 
cannot help but feel a sense of 
desperation and anger at the du- 

g licitous role that the United 
tates plays in the Middle East. 
On the one hand, the United 
States gives President Jiang 
Zemin of China the red-carpet 
treatment and increases trade wi th 
a communist stale thar has a 
despicable human rights record. 

Israel on a regular basis flaunts 
UN resolutions calling for its 
withdrawal from Lebanon and ter- 
ritories occupied in the 1967 war. 

Yet the only country that bears 
the full brunt of U.S. punishment 
is Iraq and its 18 million helpless 
people. Kuwait has been liberated 
and a large part of Iraq’s military 
power has been destroyed. What 
more does the United States want? 
Enough already. 

AMERMATAR. 

London. 

Regarding “ Looking for a 
Way Out of the Trap Baghdad 


Laid " (Opinion, Nov. 17) by 
Marvin C. Ott: 

Mr. Oil's timely piece on 
the difficult options facing 
the United States in Us response 
to Saddam Hussein's weapons 
programs leaves just one impor- 
tant stone unturned. 

How can one discuss Bagh- 
dad’s efforts to obtain weapons of 
mass destruction. U.S. reactions to 
those efforts, and Europe's and the 
Arab countries’ responses to those 
reactions without even mention- 
ing Israel’s nuclear weapons pro- 
gram. which the U.S. government 
has winked at, and perhaps even 
consciously abetted, for decades? 

To put the question another 
way: Is it realistic to expect that 
Europeans or Arabs, or anyone 
else in the international commu- 
nity for that matter, will long ac- 
cept Israel’s nuclear hegemony in 
a very volatile region? 

STEPHEN GREEN. 

Rome. 

People Here and There 

Regarding “Globalization's 


Depredations Are Real and Bru- 
tal'' (Opinion. Sept. 25 1 and “It's 
Up to the Iraqi People io Decide 
the Tyrant's Fate’’ (Opinion. Nov. 
15), both by William Pfajf: 

Mr. Pfaff argues in effect ih3t 
the United States ought to erect 
trade barriers because this will 
somehow make life better for 
Malaysian workers. 

But in another context, arguing 
that Iraq is “irrelevant” to U.S. 
interests, he says that if the Iraqi 
people want to improve their con- 
ditions, it’s up to mem. 

MICHAEL ICALK. 

Sherman Oaks. California. 

Berlin on Palestine 

Regarding “In Deathbed Plea. 
Philosopher Asked Partition of 
Israel" (Nov. 14): 

Contrary to the headline, Sir 
Isaiah Berlin did not call for 
the partition of Israel, but for 
the partition of Palestine — which 
is not the same thing as the state 
of Israel today. 

BERNARD SINSHEIMER. 

Boulogne. France. 


W ASHINGTON — Eugene 
Meyer had owned The 
Washington Post not quite two 
years when he drew up a set of 
principles for his newspaper. The 
first two have to do with telling 
the whole truth. Happily, this goal 
remains the central commitment 
of any good editor. 

Mr. Meyer's next two prin- 
ciples, though, have little cur- 

MEANWHILE 

rency in today’s newsrooms. They 
have to do with telling the truth 
while being considerate about it. 

Mr. Meyer put it this way: “As 
a disseminator of news, the paper 
shall ohserve the decencies that 
are obligatory upon a private gen- 
tleman. What it prims shall be fit 
reading for the young as well as 
for the old.” 

Decencies, privacy, gentlemon- 
I in ess. fit reading — how quaint 
these sound 60 years on. Yet I’m 
thinking that a contemporary ver- 
sion is what a lot of readers are 
wishing for when they lament of- 
fensive language. 1 unnecessarily 
bald descriptions, gratuitous insults 
or unthinking use of stereotypes. 

The thing is. good editors be- 
lieve deep down that it is the pub- 
lishing of information that they 
are charged with, not the with- 
holding. Glorious is the feeling, 
and heartwarming the reception in 
the newsroom, when an editor 
makes a tough call to publish. 

This is a praiseworthy instinct. 
Because of it, the story about hu- 
man rights violations by the 
town's biggest auto dealer is told. 
The language of an insult by a 
prominent official is given to 
readers who would otherwise be 
unable to judge the degree of the 
offense. The photo that tells a 
searing truth is printed, however 
many readers it may trouble. 

Like all good instincts, the urge 
to print needs disciplining. But in 
a strong newsroom these days, 
what takes courage is the decision 
not to publish — when something 
is unfair, inappropriately invas- 
ive, insufficiently developed, not 
essential to the story, misleading 
or just plain tasteless. 

Thus an editor feels pressure to 
play prominently the story of 
Richard Jewell as Olympic bomb- 
ing suspect. Thus, in too many 
publications, a president’s private 
parts become a public concern. 


Editors in 1 997 are in a fine fix. 
In this everybody ’s-a-viciim era. 
virtually any decision will be met 
with a scolding for stepping on 
someone's toes. Yet if you decide 
not to step, you spark the most 
scorching scolding, that favored 
criticism of the moment: You 
caved to political correctness. 

1 tapped into this reflex recently 
when I said that The Post had erred 
in running a big front-page photo 
of a 15-year-old black girl (a 
mother of two) sucking her thumb. 
I hazarded the notion that the 
photo ill -served the story, a nu- 
anced piece about a woman stay- 
ing off welfare. Critics knew bet- 
ter: Battered by readers' criticism. 
I was unwilling for The Post To 
Tell The Truth About Black Girls. 
This victory for mob rule alarmed 
several publications. 

The New Republic wrote: 
"As Overholser should have 
had the courage to acknowledge. 
The truth’ is best served when 
newspapers report, in prominent 
pictures as well as words, the 
unvarnished facts about welfare, 
no matter who might be offended 
by them." (Or. apparently, 
whether the photo and its display 
fit the sloiy.l 

It's easy to see why the anli- 
P.C. sentiment has strength: The 
excesses are so apparent, the dam- 
age to language and truth-telling 
so real. But, while P.C. -alerters 
seem still to see themselves as a 
brave few. theirs is a common- 
place cudgel these days: they have 
become another reason editors 
have trouble making tough colls. 

Whether under the guise of 
political correctness, caving to 
power, prudishness or some other 
evil, the charge an honorable ed- 
itor most abhors is “Withholding 
the T ruth. ' ' Thus the temptation to 
see courage and rectitude os resid- 
ing always in the printing, and to 
smell timidity in the not printing. 

Indeed we must be ready to 
make readers mad. to make them 
squirm — when we need to. But 
surely we should avoid it when we 
don T. This is a responsibility to be 
handled sensitively, nor a proof ot' 
metric, not a mark of pride. 

That is the charm of Mr. Mey- 
er's principles. We should look to 
tell the truth, he said, all of il And 
we must try to be decent about it 

The writer is The Washington 
Post’s ombudsman. 


BOOKS 


THE PLEASURES OF THE 
IMAGINATION: English Culture 
in the Eighteenth Century 

By John Brewer. 721 pages. $40. Farrar 
Straus Giroux. 

Reviewed by Michael Dirda 

E VERY so often a work of intel- 
lectual history comes along that re- 
invigorates the common reader's in- 
terest in the past. Sometimes that book is 
the summary of a lifetime's scholarship, 
such as John Hale's magisterial “Civ- 
ilization of Europe in the Renaissance’ 
at other times, il is a work of graceful and 
authoritative popularization — think of 
Simon Schama's lavish study of the 
Netherlands in irs golden age. "The Em- 
barrassment of Riches,” or James M. 
McPherson's * ‘Battle Cry of Freedom,’ ’ 
a Pulitzer Prize-winning account of the 
Civil War. To this select company one 
should add. despiie a few reservations, 
John Brewer’s engrossing “The Pleas- 
ures of the Imagination: English Culture 
in the Eighteenth Century.” 

Many "of us carry around a stock im- 
age or two of 1 8th-cenruiy England — a 
massive, twitching Dr. Johnson laying 
down rhe literary law in a London cof- 
feehouse: the white- marbled Georgian 
columns and rotundas of Bath: languid 
ladies in powdered wigs shamelessly 
flirting with preening fops or buck- 
tooibed siablebovs. In recent years many 
of our ideas about this period naturally 
derive from pretty costume dramas like 
"Tom Jones,” “Barry Lyndon” and 
“Sense and Sensibility. ’ For the most 
pan we think of Augustan England, 
aside from a few rowdy taverns and 
picturesque gambling halls, as a world of 
stability, order and elegance, when the 
canon meant Virgil and Horace, people 
knew their place and Britannia ruled the 
waves. 

Brewer's study, however, pomes up 
that this “peace of the Augustans' 


George Saintsbuty’s phrase — is quite 
illusoiy: The period from roughly 1660 
to 1789 was actually an era of great 
intellectual ferment, social dynamism 
and cultural change. Though drawing 
heavily on the biographies of certain 
notable and once-notable figures — the 
painter Joshua Reynolds, the actor Dav- 
id Garrick, the provincial lady of letters 
Anna Seward-Brewer mainly usesthese 
lives to investigate a variety of cultural 
institutions. 

This may sound dry or doctrinaire, but 
in fact allows for a close-up look at all 
sorts of fascinating matters, from the 
organization of a coffeehouse to the es- 
tablishment of the Royal Academy of 
Art, from the impact of Bewick’s wood 
engravings to the decades-long success 
of “The Beggar's Opera." 

In general. Brewer vigorously shows 
how an became commodified, linked 
with particular corporate bodies or com- 
mercial practices, and often relegated to 
a patriotic, even jingoist, function. The 
plays of Shakespeare, for example, 
served many ends besides those of dra- 
matic entertainment. Because of the- li- 
censing act of 1737. which drastically 
limited the number of London theaters to 
two, writers felt little incentive to create 
original dramas; as a result, old classics 
like “Richard HI” and “King Lear" 
were revived again and again. 

Since the Tonson family of book- 
sellers held the copyright to 
Shakespeare's plays, they shrewdly pro- 
moted the Bard’s interests and their own 
by periodically commissioning distin- 
guished figures (Pope, Johnson) to over- 
see new editions of the complete works. 
In his quest for respectability the socially 
ambitious David Garrick co-sponsored 
the Shakespeare Jubilee celebration in 
Stratford, and then incorporated ele- 
ments from it into a special dramatic 
afterpiece that regularly brought down 
the bouse at Drury Lane. Not least, be- 
cause Italian opera was satirized as for- 


eign and effeminate, the spoken dramas 
of Shakespeare (along with the oratorios 
of Handel) were raised up as proper! 
masculine and particularly British. A 
too often cultural success depends on 
factors other than artistic merit 

"The Pleasures of the Imagination” 
— the phrase comes from Addison’s 10 
essays on the subject- — will especially 
appeal to many readers as a fount of 
incidental anecdote, bits of trivia and 
shrewd observation. 

For all its obvious merits as a work of 
scholarship, including more than 200 
period illustrations, "The Pleasures of 
the Imagination” is nevertheless 
slightly flawed as a book. Far too many 
typographical or spelling errors mar the 
rexL 

In a stimulating bibliographical essay 
Brewer points out thar his book is' based 
largely on scholarship of the past 20 
years and that one of his aims in writing 
has been to "bring much of this work to 
die attention of an audience that extends 
beyond specialists by presenting it in an 
accessible way." 

This he does with great panache, 
though 1 confess to a certain unease 
about the lack of footnotes. Just how 
much of his material is original with 
Brewer? It is difficult to gauge this, 
though I recognize many of his points 
about Shakespeare from the generously 
acknowledged source Gary Taylor’s 
“Reinventing Shakespeare.” I also wish 
there were more references to the great 
18th-century historians and critics of the 
past: Scholars should honor their pre- 
decessors. I suspect that at least a few of 
the discoveries of the past 20 years may 
be less original than they seem. 

But that’s a matter for specialists to 
argue about. For the rest of us, *:The 
Pleasures of the Imagination” stands as 
an exhilarating work of great scope and 
substance. No one interested in modem 
intellectual history should miss it. 

Wjsliinglon Post Service 


BRIDGE 


By Alan Truscott 

new type of world cham- 
.pionship was introduced 
month in Hammamet. 
isia, and was a consid- 
ile success, it was the 
isnalional Open Teams, 
-hich players were not re- 
lied to their own couiv 
ten, and i( attracted 74 
im 

them, fully in the 


illy 

ad players 


ic event, had pi . 
r countries: France. 
Lebanon and 

he Egypua 11 P la y er 
ir Sharif, much ex- 
rnsued. 

nner was an Italtan- 
iroup headed by 
Burgay of Bieua. 
d including three 


- players who have won world 
titles: Dano De Falco, Marcin 
Lesniewski and Krzysztof 
Martens. 

Runners-up, after winning 
the qualifying stage, were an 
all-Polish • foursome, 
Krzysztof Jassem, Piotr 
Tuszynski. Marek Witek and 
Ireneusz Kowalczyk. 

Tuszynski showed his skill 
on the diagramed deal. 
Against four hearts, his op- 
ponents began well by lead- 
ing three rounds of dia- 
monds. • „ 

Giving a deliberate niff 
and sluff was the right way to 
weaken the declarer's 
trumps. 

Where should South ruff 
the third trick? The usual 
strategy is to preserve the 
trump length in me hand with 
an esiablishable suit But 


Tuszynski could see entry 
problems ahead if he ruffed in 
nis own hand. Instead he 
ruffed in the dummy, cashed 
the heart ace and led a club to 
the queen. 

When this lost to the king. 
West persevered with a fourth 
diamond, still aiming io 
weaken the declarer’s 
trumps. 

But Tuszynski was in con- 
trol. 

He raffed in dummy and 
cashed the heart queen. Then 
be entered his hand with a 
spade lead to the ace, drew 
tramps and ran clubs to make 
the game. 

But if Sooth had raffed the 
third diamond lead in his own 
hand, he would have been in 
rouble. He cannot cross for 
the club finesse without using 
up the small tramp that be 


needs to deal with the next 
diamond lead. 

And leading clubs from the 
closed hand does not help 
either. 

NORTH 

* 7 

7 A Q 9 6 

*Q4 

*J 1086 5 3 


WEST 
* qsfifl J 
7 2 

C 10 9 85 3 
*K7 


EAST 
* KI0 4 
9 10 8 5 3 
JAK7! 
*94 


SOUTH (D) 

* A JS2 
PKJ74 
0 J G 
+ AQ2 

Both sides were vulnerable. Deal- 


cr Sooth. 
South 

West 

North 

East 

1 N.T. 

Pass 

2 + 

Pass 

2 0 

Pass 

49 

Pan 

Pass 

Pass 




West ted ihe diamond ten. 




DO YOU LIVE IN 


< FRANCE? 


Subscribe and SAVE up to 60% 
off the cover price. 

Also available: PAY MONTHLY 
by easy, low cost, 
direct debit. 


EARLY MORNING DELIVERY TO YOUR HOME OR OFFICE 

A cosmopolitan, comprehensive and condse newspaper delivered every day to your home or office. 

In and around most of Parts the International Herald Tribune offers early morning hand delivery on the day 
of publication, Monday through Saturday. And, because it is printed in Paris.Toulouse and Marseille, it can be 
sent by post to arrive on the same day in most of France at no extra cost 
The result? 

Unique coverage of the world you live in, brought to you as it changes - daily. 

For more information about easy ordering and availability of hand delivery 
CALL our Subscriber Customer Service Unit: 

TOLL FREE: 0800 437 437 

or Fax: OK 41 43 92 10 E-mail: subs@iht.com Internet: http://www.iht.com 



YOUROETAILS 


Q YES, I’d like to subscribe and have my bank account 
debited monthly by FFI62. 

Please start my subscription and send me a bank 
form to arrange my payment 


□ YES, I’d like to subscribe and pay for the following 
term: 

□ 12 months (+ 2 months free): FF 1,950 
( Saving off cover price: 46%) 

□ Special, 2-month trial subscription: FF2 10 
(Saving off cover price : 60%) 

□ My check is enclosed (payable to the IHT) 

□ Please charge my: 

□Access □Am ex □ Diners 

Q Eurocard Q MasterCard QVisa 

Credit card charges will be made in French Francs at 
current exchange rates. 


Family Name:. 

First Name: 

Job Title:. 


Mailing Address: □ Home □ Business 


Postal Code:. 

City: 

Tel: 


.Fax:. 


Card N° 


-Exp~- 


Signature:. 


Q Please start delivery and send invoice. 


E-Mail Address: 

YourVAT N° (Business orders only) 


(IHTVAT N- 747 320 211 76) 

l got this copy of the IHT acD kiosk □ hotel □ airline □ other 
□ I do not wish to receive information from other carefully 
screened companies. 2 MJ -97 

This offer expires on December 3 1, 1 997 
and is AVAILABLE FOR NEW SUBSCRIBERS ONLY 

Return your completed coupon to: 
Subscriptions Director, International Herald Tribune. 
181, Avenue Charies-de-GauIle, 9252 1 Neuilly Cedex. 
Fax: 01 41 43 92 10 E-Mail: subs@ihLcom frh 


READERS IN OTHER COUNTRIES CAN SUBSCRIBE BY CALLING* 

EUROPE, MIDDLE EAST &AFR1CA THE AMERICAS ASIA 

Tel: +33 I 41 43 93 61 Tel: (USA toll free) t-800-882-2884 Teh+852 29 22 I 1 71 

Fax: +33 I 41 43 92 10 Fa*: +i 212 7SS 8785 Fax: +8S2 29 22 I I 99 


i 


i. 




international herald tribune 

FMDAT, NOVEMBER 21, 1997 





By Debbie Seaman 


L EURA. Australia — We were 
near the edge of an escarpment 
that conld have been cut with a 
knife, taking in the dizzying 
view of the Jamison Valley from Aus- 
tralia’s Blue Mountains, when my 214- 
year-old son Lachlan announced to my 
husband. “Da, Mom's got bees.” The 
buzzing black cloud besieging me was 
in fact of bush flies, but the sight must 
have reminded him and his twin brother, 
Cameron, of one of the apian pursuit 
scenes from their favorite Winnie the 
Pooh videos. 

Fortunately, these tenacious 
creatures would not continue to plague 
us during our family bush-walking for- 
ays around the edges of the Blue Moun- 
tains wilderness, which begins about 50 
miles [82 miles) northwest of Sydney. 
As a local man told us, they were simply 
precursors of the precipitation obscur- 
ing the distant mountains to the west. 

Certainly, neither the insects nor the 
rain clouds had bear apparent when we 
.pulled into Leura, a village in the heart 
of the Blue Mountain region bustling 
with antique stores, boutiques, galleries 
and cafes. Yet, soon after we had settled 
at a table under the leafy limbs of a large 
oak tree on the brick patio outside the 
Bon Ton Cafe, we heard die low nimble 
of thunder and sensed a dramatic drop in 
The temperature. 

We piled back into the car to see the 
valley views nearby, thinking they were 
under threat of imminent erasure. The 
vistas were not to vanish that day until 
thick, twisting tendrils of fog rolled in at 
nightfall and stayed for another day and 
a half, nearly aslong as we did. 

Happily, though, rain and fog have 
never dampened our enjoyment of the 
Blue Mountains. For example, during 
on especially soggy sojourn last year in 
early May, in the Aussie autumn, we 
were content to drive around looking at 
antiques and taking shelter in cafes, 
which occasionally were under the same 
roof. 

Last January, we had sentimental rea- 
sons to spend a few summer days in 
Leura. About to pull up stakes from 
Sydney and move to the United States, 
we wanted one last opportunity to “go 
bush.” Our favorite Blue Mountain vil- 
lage, Leura has the advantage of being 
-bordered by bush — a richly textured 
and scented melange of gum trees, pines, 
spiky shrubs and even pockets of rain 
forest — while harboring some of the 
most beautiful of the region's manicured 
European gardens, where occasionally 
there’s nary a native plant in sight 
Since we had our twin toddlers in tow, 
we booked two nights in a cottage with a 
fireplace on the grounds of the Little 
Company Guest House, a comfortable 
converted convent at the edge of Leura. 

At mealtimes, we had our pick of local 
restaurants where the food was good and 
the atmosphere kid-friendly. Avalon, 
several miles down the road in Ka- 
toomba, with its jumble of bric-a-brac, 
antiques and mismatched furniture 
scatlacd about an old warehouse loft, 
was as much fun for us as it was for the 
children. 

T AILORING the trip for the twins 
meant avoiding the longer bush 
walks we would have done if on 
our own. but it took us to places we 
otherwise might not have experienced. 
During one of these expeditions to en- 
tertain the boys our first afternoon out 
we discovered ewe of the best juxta- 
positions of bush and landscaped gar- 
dens that Leura has to offer — the New 
South Wales Toy and Railway Mu- 
seum. The more mundane genre of mu- 
seum we had anticipated turned out to 
be an imposing white 1912 mansion on 
12 acres (4.8 hectares) called Leuralla. 

To the front of this former home of the 
EvaR family — Herbert Evatt was Aus- 
tralia's foreign minister after World War 
H and secretary general of the United 
Notions — is a wide lawn, whimsically 
adorned with two statues of cartoon char- 
acters (the one I recognized was Olive 
Oyl), sloping to an amphitheater of slate 
and sandstone. 

From here and the fenced lookouts on 
.the cliffs below are magnificent, un- 


A Czech Tour in Footsteps of Jan Hus 


By David Binder 

New fork Times Service 


AMn QoiDni/Eapiacr 

The Three Sisters, one of the most famous vistas in the Blue Mountains. 

In Blue Moutains: 

An Australian Trek 

On a Family Trip, Baby Makes Four 


obscured views of the mountains and 
valleys beyond, their bluffs and dense 
bush unmaned by signs of civilization. 
When I marveled at the bluish aura on 
the horizon for which these mountains 
are named, my husband, Warren, told me 
it was die cumulative effect of the vapor 
exuded by countless eucalyptuses. 

Distracted by flies and slightly ver- 
tiginous from the views — we had to 
traverse a small bridge over an abyss 
seemingly hundreds of feet deep to 
reach a lookout — I herded my small 
flock up the pebbly paths to the Toy and 
Railway Museum. The tall broad-faced 
railway clock on the veranda only hint- 
ed at the countless curios inside. 

Showcased against an elegant back- 
drop of polished Queensland maple 
paneling and Oriental carpets stood 
cases of antique toy soldiers, animals 
playing musical instruments, model 
ships, planes, zeppelins and an abund- 
ance of yesteryear s toys and books. 

The twins were mesmerized, mash- 
ing their noses up against the glass 
cases. There was more to see upstairs, 
but one of the museum’s best features 
had its own little house behind the man- 
sion: an extensive network of model 
railroads, which we could activate with 
the touch of a button. 

Balm for Parents 

If the house was heaven for small 
boys, the grounds were a balm for be- 
leaguered parents. There were rows of 
radiata pines protecting the house from 
westerlies, a gardener told me. along 
with dogwood, maple, hydrangea, cedar 
and cheny laurel amid manicured 
lawns, paths and marble fountains. 

Like so many of the gardens in this area, 
they seemed to have been designed to 
remind the early settlers of those in their 
native Europe. The oily native plant in 
Leuraiia's formal arboretum was the 
waratah. a flowering shrub that is the 
emblem of the state of New South 
Wales. 

There are any number of viewpoints 
over the valleys, and the gardener said 
that the trail bordering the escarpments 
extends for nearly 20 miles (32 kilo- 
meters). Perhaps the best-known spot is 
Echo Point in nearby Katoomba, which 
overlooks the Three Sisters, a trio of 
giant rock stacks that are one of erosion’s 
masterpieces. Having seen this postcard 
view during previous visits, we chose 
instead to drive two and a half miles to 
Sublime Point, whose sandstone shelf 
lookout is a five-minute walk under long- 
needled casuarina pines from the road. 

The tops of die Three Sisters were 
visible past die promontory to the west, 
but it was the sight of another female 
threesome that nearly made me faint. 
Three teenage girls had climbed the 
fence around the lookout and were per- 
ilously perched on a sandstone ledge next 
to another sheer drop. “Let’s do Mel- 
rose!” crowed one. vamping for a com- 
rade's camera, and 1 had to turn away. 

Before we drove back to Sydney, the 
family prevailed on me to overcome my 
acrophobia long enough to take the Ka- 
toqraba Scenic Railway from Echo 
Point down the side of the ridge dividing 
the Jamison Valley from the Megalong 
Valley. The entrance to the railway — 
and the suspended Skyway, which I had 
pronounced out of the question — was a 
riot of tacky shops and restaurants and a 
concourse of tourists and backpackers, 
and the car we sat in was a contraption 
that looked more suited to Disneyland 
than a bush wilderness. Expecting a 
wild ride. I felt almost cheated when the 
almost vertical plunge down a tunnel in 
the cliff lasted less than 60 seconds. 

We were not disappointed, however, 
when we emerged on the slope of the 
valley below. Dodging the puddles on 
the path, walking past a tall turpentine 
tree that was reminiscent of a redwood, 
we were able, after 15 minutes, to look 
straight up at the summit of Katoomba 
Falls, and down to watch backpackers 
disappear into the gnarled forests. 

C raver of creature comforts that I am, 

I was amazed to realize I wanted to 
follow them. 


P RAGUE — U Kalicha, which 
means '‘At the Sign of the 
Chalice,” is a venerable tav- 
ern in the middle.of Prague at 
Na Bojisti (On the Battlefield Street). 
Not by accident it was the beer hall of 
choice for the Good Soldier Schweik, 
the subversive Czech hero of the comic 
novel of Jarosiav Hasek. In this subtle 
way the author paid tribute to a symbol 
of Czechdom. The chalice acquired this 
status four centuries earlier through fol- 
lowers of Jan Hus, the revolutionary 
preacher and patriot who was burned at 
the stake as a heretic at the outset of the 
Council of Constance in 1415. To this 
day the ceremonial cup retains an al- 
most mystical gravity for die Czechs. 

Under a 12th-century ruling, only 
priests could partake of wine represent- 
ing the blood of Christ from a chalice 
during Communion. Hus, among other 
rebel spirits, called being denied a part 
of Communion an affront to the faithf ul 
That became one of the issues on which 
he split with the hierarchy, although he 
considered himself a faithful Catholic to 
the end. After hi s horrifying death at age 
45, thousands of his disciples, called 
Hussites, sewed chalice designs on their 
banners and waged war across the cen- 
ter of Europe for nearly 15 years. The 
church banned the chalice itself. 

uuoious challenge Many are the 
ways to focus a visit to the Bohemian 
lands — music, architecture, castles, 
beer and much more — although it is 
difficult to avoid any one while con- 
centrating on another. Our focus for a 
week was to explore die central and 
southern portions of the Czech Republic 
in terms of the life and times of Jan Hus, 
whose dauntless challenge to the cor- 
rupt papal hierarchy foreshadowed die 
Protestant Reformation and helped 
define the Czechs as a nation. He was 
inspired by the reformist writings of 
John Wycliffe in England. Later he 
translated a portion of the Bible and 
made significant contributions to Slavic 
orthography. 

My first encounter with Hus's her- 
itage had come in 1968, during the 
Prague Spring, when proponents of 
“socialism with a human face” adopted 
him as an inspirational forebear in the 
straggle against their Soviet overlords, 
and I was thirsty for more. My wife. 
Helga, and I began our week in 
Prague. 

T HE Bohemian capital, so placid 
now, was a vortex for violence at 
the beginning of the 15th century 
— fratricidal wars, beheadings, peasant 
rebellions, pestilence. Cosmopolitan 
and bigger than Rome, Prague was the 
seat of the Holy Roman Empire, viewed 
as a prize by die three rival kings. At the 
height of Hus’s career there were also 
three competing popes. One matter that 
monarchy and popes agreed upon: Hus ’s 
purported heresy threatened the foun- 
dations of their power. Hence his con- 
demnation. 

Hus's legacy is most vividly dis- 
played in the Bethlehem Chapel, the 
disarmingly simple house of worship 
where he began preaching at age 32 a 
decade after it was built. Of Prague’s 20 
churches, Bethlehem, erected by a Ger- 
man patrician, was the only one where 
sermons and hymns were in Czech. 
Here he* found his true calling. In (he 
spacious chapel, which held more than 
3.000 and was usually packed when he 
spoke. Hus inveighed against venal 
practices of the Catholic church in a 
time when virtually everything was for 
sale — sacraments, bell-ringing and, 
worst of all in his view, indulgences 
absolving sins. One of his parishioners 



Statue of Jan Hus in the Old Town Square in Prague. 


Sylvan Gn 


was Queen Sophie, and he became her 
confessor. 

Later the building, with its two gabled 
roofs, was turned over to Jesuits, who 
removed traces of the Hus era, and then 
tore it down to make way for an apart- 
ment house. On the basis of Hussite 
texts and recovery of a Gothic portal, a 
fountain and some windows, it was lov- 
ingly reconstructed in the 1950s under 
Communist role. On the walls are fres- 
coes, extracts of Hus sermons and mu- 
sical notes replicating the originals. For 
a small fee, visitors may visit the up- 
stairs museum where multilingual signs 
explain Hus memorabilia, including one 
of his handwritten texts on parchment. 
From his cell in Constance during 
nearly eight months of incarceration he 
inquired again and a gain about his cher- 
ished chapel in Prague and it even 
figured in one of his last dreams, he 
confided to friends. 

From the Bethlehem Chapel it is a 10- 
minute walk to Charles University, 
( Caro lin urn) where Hus was first Ma- 
gister and then Rector. A large Gothic 
bay window is all that is left of the 
original university building. From the 
university we walked across the Vltava 
River to the looming Prague Castle. Just 
in front of the grand entrance is the 
Archbishop's Palace, a stately structure 
rebuilt after a huge fire in 1541, where in 
1410 Bishop Zbynek burned 200 
volumes of “heretical'’ writings, in- 
cluding works of Hus, in the courtyard, 
and then banned him from the city. 

Back in the old part of town, near the 
University, is a house called Black 
Rose, at 883 Na Prikope; at this address 
Hus's German faculty colleagues, led 


by Magister Nikolaus of Dresden, set up 
a “school of heresy” in 1412. Nikolaus, 
too, was burned, as a heretic two years 
after Hus was. None pf the original 
Black Rose remains; in its place is a neo- 
Renaissance house built in 1847. 

About eight blocks from the Black 
Rose is the New Town Hall, where the 
14th-century ground floor hall of 
columns and the cellar have been beau- 
tifully preserved. Here, on June 30, 
1419, a crowd gathered to demand the 
release of fellow Hussites heldprisoner 
there. The magistrates stalled. TtytJJus- 
sites stormed the tower and threw them 
and their aides. 12 people, out the win- 
dow to their deaths — the first of several 
Prague defenestrations. This was the 
beginning of the Hussite revolution that ■ 
spread its puritanical ideas, the essence 
of which was derived from Hus’s rad- 
ical denunciation of the profligacy of 
the Catholic Church's hierarchy, as far 
away as Lithuania and Spain. 

After three days in Prague, we rented 
a car and set out fix Tabor, the main 
Hussite citadel, about 55 miles south- 
east of the city. Named for the mountain 
in Galilee where tradition has it that the 
transfiguration of Jesus occurred, this 
high hill town was built literally as a 
biblical city by legions of Hus adherents 
in 1420. While none of the original 
wooden buildings remain, dioramas in 
the city museum give a picture of Hus- 
site Tabor. 

The museum is on Zizka Square, 
named for Jan Zizka of Trocnov, an 
occasional robber baron who became 
“Brother Zizka of the Chalice,” the 
most renowned Hussite commander, 
one-eyed at the start, blind at the end. 


His highly disciplined, mainly pes^ 
ant. armies, calling themselves ‘ War- 
riors of God,” threw back five suc- 
cessive crusades blessed by rope 
and raided as for as the Baltic Sea. 

Now a national historical monument, 
Tabor is ecumenical to a degree that 
would surely delight Hus — churches or 
three denominations are nearby, includ- 
ing the Church of the Transfiguration ot 
Out Lord on Tabor Mountain towering 
above Zizka Square and feeing small 
shops, a Chinese restaurant and a group 
of young Vietnamese flung here by foe 
vicissitudes of the Cold War, selling 

modest wares in die open air market- 

A and a half on a well-marked 
footpath to the southeast of Tabor stands 
Kozi Castle, where Has, banned from 
Prague, wrote “Concerning foe 
Church,” the tract that figured in his 
trial at Constance. Not much is to be 
seen except the gray, weatherbeaten ru- 
ins of the castle walls and the gently 
rolling countryside where Hus would 
venture out to preach to masses of fol- 
lowers from under a tree. . 

Famous Ferment 

From Tabor we drove to Ceske Bude- * 
jovice, the Budweis of fermented 
renown, where burghers began brewing 
• foe slightly sweetish red-gold beer of 
that name a century before the birth of 
Hus, and then to Cesky Krumlov to 
overnight at foe Krumlov Hotel. While 
staunchly anti-Hussite, Knnnlov's ruler. 
Prince Oldrich of the Rozmberk dy- 
nasty, seized foe opportunity provided 
by the revolution to plunder foe Zlata 
Koruna (Golden Crown) monastery and 
seize its vast estates. The monastery, just 
.north of this enchanting artists' town — 
on Unesco’s World Heritage List since 
1992 — is now being restored. 

Well-kept back roads took us past 
thickly forested moun tains , rising 3,000 
feet, to Prachahce, where both Hus and 
Zizka attended school. In 1420 Zizka 
returned at foe bead of a Hussite army, 
stormed foe walled town and burned it 
down, a scene illustrated in a diorama in 
foe museum on foe main square. But as an 
important trading center, Prachatice rose 
again a century later, this time as a jewel 
of the Renaissance, wife beautifully dec- 
orated facades featuring fresco portraits 
of Czech monarchs and martial scenes. 

After lunch on homemade sausage 
and draft Budweis we traveled to 
Husinec, the village where Hus was 
born about 1 370. There is a statue of him 
in "front of a house that may have been 
his birthplace. One can imagine him 
poor but full of hope, setting off on foot 
90 miles (145 kilometers) to Prague to 
study. *T wanted to become a priest 
quickly,” he said almost ruefully as an 
adult, “to have a decent living and good 
clothing and become respectable.” 

DIFFICULT to trace . No commercial 
Hus tour is available in foe Czech Re- 
public and there is little literature in 
English about him, which made it dif- 
ficult to trace some of his paths in Bo- 
hemia. We missed one of the last places 
Hus stayed in his own country in foe 
autumn of 1414. That is foe great castle 
at Krakovec, 40 miles west of Prague, 
where he was taken under foe friendly 
protection of Baron Left. Despite a 
foundering papal ban he was permitted 
by his host to preach outdoors, even as 
the Ecclesiastical Council was assem- 
bling in Constance. 

He knew what he faced when he 
mounted a horse at the castle to ride foe 
285 miles to Constance, saying, “If I 
have to face foe fire that is ready for me, 
it is better to die well than to live 
badly.” He was burned at foe stake on 
July 6, 1415. Five centuries later Pres- 
ident Tomas Mas ary k declared that date 
a national holiday. 


1 


MOVIE GUIDE 


Debbie Seaman, a freelance journa- 
list for four years in Sydney, wrote this 
for The New York Times. 


The Matchmaker 

Directed by MarkJoffe. U S. 

You don’t need a radar map to read the 
weather when Janeane Garofalo is on 
the screen. The mercurial intensity of 
this dark-eyed, sarcastic comedian says 
it all: unsettled. Garofalo, who plays a 
character in “The Matchmaker’ very 
much like her stand-up comic persona, 
conveys foe attitude of an impatient, 
hypercritical skeptic who can see 
through anybody. If she doesn't give her 
trust easily, it can still be woo. Once she 
has lowered her storm warnings. Garo- 
falo is capable of projecting an endear- 
ing childlike rapture. In those fitful mo- 
ments when the sun bursts through foe 
clouds, it blazes. Garofalo's character, 
Marcy. is an assistant to a sleazy Mass- 
achusetts senator named McGloiy (Jay 
O. Sanders) who is fighting for his polit- 
ical life. Desperate for some homey 
publicity, he dispatches Marcy to a 
small town on foe western coast of Ire- 
land to track down his Irish relatives 
who supposedly inhabit the area. On 
arriving, Marcy discovers foe town in 
foe middle of a matchmaking festival. 
Being an American, she finds herself a 
prime catch for the local bachelors, but 
she shrugs off her sudden popularity as a 
distracting nuisance. Worse, there are 
no McGlotys to be found in foe area. 
The man who becomes the most likely 
candidate for Marcy’s affections is a 
sometime journalist named Sean (David 
O’Hara) who ferries her to the Aran 
Islands as part of her genealogical re- 
search. Garofolo’s keen intelligence de- 
mands more verbal wit than foe rushed, 
formulaic screenplay can provide. Far 
too much time is squandered fussing 
over subplots and confusing minor char- 
acters and their unfunny farcical 
shenanigans. (Stephen Holden , NYT) 

La Camareha del Tmunc 

Directed by Bigas Luna. Spain. 

This is an engaging fantasy about a 
handsome young foundry worker in 



Pad Qoflow 

A scene from “The Matchmaker.” 

France who wins a company trip to 
England to witness, from shore, the 
launching of foe Titanic in 1912. 
There, he meets a temptress and returns 
home with the ultimate “kiss and tell’ ’ 
stories for his lascivious pals at the 
local bar, and his feme grows steadily. 
The film is laudable for its masterly 
photography, capturing foe way one 
might imagine foe tales of joyous lust, 
and for paying homage to a bygone era 
of traveling theater. There is good act- 
ing by Aitana Sanchez-Gijon, as foe 
temptress, who is in theory a cham- 
bermaid ( camarcra ) aboard the ill- 
fated ship, and by Romane Bohringer, 


as the man’s jealous wife who manages 
to find opportunity in his bold stories. 
The problem is foe inconsistent per- 
formance of Olivier Martinez as foe 
foundry worker. His best moments 
come late in the film, when he finally 
shows convincingly foe torment of his 
self-made helL But until then, his role 
is eclipsed by foe leading women, add 
even by key supporting players, who 
bring more honesty to the screen than 
fob starring man. (Al Goodman. IHT) 

Mange ta Soups 

Directed by Mathieu Amalric. France. 
The son (Jean-Yves Dubois) returns 

or feigning sleep — on the couch^The 
mother (Adriana Asti) wakes to find foe 
son asleep in his old bed. Minutes later, 
be sneaks out of foe bouse, then sneaks 
back in. He tas come home to roost, a 
gangling post-adolescent who has not 
completed his growth process. He and 
his mother do an odd duo, missing each 
other wifo perfect timing: “Do you want 
tea?” she calls out ‘*No thanks,” he 
tiles. “With milk?” “No thanks.” 
fith lemon?” The house, haunted by 
childhood losses and divorce, has been 
taken over by books that eat up sp&Ge and 
light, for foe mother is a literacy critic 
who literally crumbles under the weight 
of the printed word. The father, also a 
writer, is being devoured by imagined 
demons and real rashes. This family in- 
cludes a sister on the edge of hysteria 
(Jeanne Batibar) and has something in 
common with the director’s: His mother 
is a literary critic and his father apolitical 
c olumnist. Mathieu Amalric, an actor in 
films by AmaudDesplechin and Daniele 
Dubroux, was irresistible as awaif lost in 

a world of intellectuals. In tins hilarious 
first film as director, he touches on the 
sources of that wold — displaced people 
who cannot stay together, but cannot 
make it on their own. A minimalis t por- 
trait, drawn with devastating special ef- 
fects. (Joan Dupont. IHT) 


Mad City 

Directed by Costa-Gavras. US. 

“Mad City” is for those who haven’t 
seen enough movies about hostage situ- 
ations. It’s also for those who haven’t 
seen enough ponderous movies about 
media exploitation, ot Dustin Hoffman's 
ongoing reliance on mattery method act- 
ing. If you’re included in tins group, read 
on. Maybe I can still talk you out of it 


Meet failen-from 
Max Brackett 


replu 

“Wi 


TV journalist 
.. j), a grandstand- 
ing pain in foe neck to his colleagues at a 
local Madeline, California, affiliate. A 
former investigative reporter, he was 
dumped from the network because he 
embarrassed CTO anchor Kevin Hol- 
lander (Alan Alda) on a live broadcast 
Max used to have a soul. Now he’s 
banished to foe global village equivalent 
of Podunk, scrambling after anything 
that moves— and tittle ever does. But on 
a routine report about the effects of 
budget cuts oa a local museum, his pay- 
ers are answered. Sam Baily (John Tra- 
volta), a security guard and a victim of 
those budget cuts, returns to plead his 
case wifo director Mrs. Banks. He de- 
rides to bring a shotgun and a bag of 
dy n a mite He doesn’t mean to use them, 
but he really wants foe snooty Mrs. 
Banks (Blythe Danner) to - listen. Max is 

still in foe museum when Sam makes his 

entrance; so are a bunch of schoolchild- 
ren on afield trip. When Sam fires his 
gun in frustration, the bullet hits a se- 
curity guard standing outside. Before 

y ou can say “Dog Day Afterooon,” Sam 

(imagine Forrest Gump with sideburm 
and a thick Brooklyn accent) isarTS 
voluntary “gunman,” and Max (who’ s 
hiding in foe bathroom) is hosting foe 
live feed to his station. Costa-Gavras 
must think he’s telling us things we don’t 
know, or haven’t considered, or haven’t 
seen a billion times in other movies and 

e ^L < !SS;, mediUm - ^ **** part 
of foe problem — who knew? 

SamBailyisn’tfoeonly naive guy in rtSs 

movie. (Desson Howe. WP) y Wls 




• ■< 

t '1 




ill 


* 






it* 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 

the frequent traveler 


RAGE IX 


&fhar Owrntr 


N ^The Skies of Europe: How Open? 


By Roger Collis 

Intcmmional Herald Tribune 


O PEN skies have filially ar- 
rived in Europe. Since April 
I . airlines have been free to 
fly anywhere within the 
fcuroprran Union at any time at any fare 
the final stage in a gradual proe ms of 
reforms that began in 1987. 

Bur is deregulation working? How 
much longer will business travelers be 
prepared to pay outrageous fares 
- charged by the major carriers on short 
point-to-point routes in Europe for a 
flexible ticket and a few frills, when they 
am travel on a burgeoning network of 
low-cost, no- frills carriers — such as 
Ryanair, based in Ireland, EasyJet and 
Debonair in Britain, Virgin Express in 
Belgium and Air One in Italy — for less 
than a fifth of the price? 

Between London and Nice, for ex- 
R ample, British Airways charges £682 
' ($1,160) for a round-trip business-class 
ticket and £552 for fell -fare economy, 
compared with £49 (rising to £79 as 
seats sell out) for a one-way ticket on 
EasyJet and £69 on Debonair for a folly 
flexible ticket. On a Dublin-Brnssels 
flight, Aer Lingus and Sabena jointly 
charge £499 compared with £149 for a 
felly flexible ricketon Ryanair. How can 
major airlines get away it? 

: Why So Expensive? 

There are two scenarios: 

First: Business as usual In spite of 
growing competition from low-cost air- 
lines, national carriers will be able to 
maintain high business fares as they con- 
solidate their market dominance through 
alliances and code-sharing. (Only six 
percent of Europe’s routes — 31 out ctf a 
total of 518 city-pairs — are operated by 
three or more carriers; 30 percent have 
only two carriers, often code-sharing, 
and 329 routes are still monopolies.) 
High start-up and operating costs at ma- 
jor airports prevent airlines taking ad- 
vantage of deregulation. Of the 80 new 


airlines set up since 1987, only 20 have 
survived. The average business traveler 
is unwilling to use secondary airports to 
which most low-cost carriers are releg- 
ated because of the shortage of landing 
slots and hi gh airport charges at main 
hubs like Heathrow, Schiphol, Charles 
de Gaulle and Frankfurt. 

Second: Air travel is on the brink of a 
radical fare-cutting era as . competition 
from low-cost airlines begins to bite. The 
low-cost sector now attracts an estimated 
10 million passengers a year, equivalent 
•to more than a third of BA’s European 
passenger volume. Thousands of busi- 
ness travelers are defecting to no-frills 
carriers as they expand their networks. 
Ryanair claims that 30 percent of its 
passengers are traveling on business; 42 
percent of Debonair’s bookings are for 
business travel, and EasyJet says that on 
some routes “up to 40 percent of jour- 
neys are business-related.'' Ryanair 
claims to be “market leader on every 
route where we compete with Aer Lin- 
gus” in spite of flying to secondary 
airports like Beauvais, south of Paris, 
Skavta. south of Stockholm, apd Torp, 
south of Oslo. (Some business travelers 
actually prefer secondary airports, which 
may be convenient to where they live or 
want to go, or more congenial.) EasyJet 
has taken 32 percent of the market be- 
tween Nice and London, compared with 
BA’s 50 percent. And Air France and Air 
UK have withdrawn from the route un- 
der competitive pressure. 

National airlines — no longer able to 
ignore die threat from low-cost earners 
— will set up their own low-cost op- 
erations in direct competition with them. 
British Airways, for example, which has 
lost an estimated 10 percent of its . market 
to low-cost carriers, plans to set up its 
own no-frills earner at Stansted, north of 
London, to exploit low air port charges 
with a small fleet of Boeing 737s. Initial 
destinations wfll probably be Paris, Am- 
sterdam, Madrid and Belfast. 1 jrfrhansa 
is likely to follow BA’s example. 

Whatever the dialectical outcome of 
these two scenarios, the major low-cost 


carriers have long-term plans for short- 
haul operations. Ryanair, which serves 
13 routes between Dublin and Britain 
and mainland Europe, pins six routes 
from London Stansted, was the first no- 
frills carrier in Europe to model itself on 
the phenomenally successful Southwest 
Airlines in the United States, and is set to 
make a profit of £25 million this year. 
EasyJet, which now serves eight des- 
tinations from London Luton, claims to 
be profitable this year and has ordered 12 
new Boeing 737-300s at the cost of half a 
billion dollars. Virgin Express, with 
eight routes out of Brussels, aims to fund 
a major expansion plan wife a £60 mil- 
lion flotation in New York and Brussels. 
Virgin Express has gained access to 
Heathrow and Gatwick through a 
■ ‘block-seat’ ’ deal with Sabena, whereby 
Sabena -sells its own business-class fare 
on Virgin 737s, while Virgin serves up 
no-frills in fee back of the . plane. And 
Debonair, which offers low-fare flights 
from Luton to Copenhagen, Dusseldorf. 
Madrid, Barcelona, Milan, Rome, Nice 
and Munich, plus connections from Mu- 
nich to Rome, Barcelona and Madrid. 

ALL IN PERSPECTIVE “You have to 
consider European fares in perspec- 
tive,’’ said Kyle Davis, vice president, 
purchasing management, at American 
Express in Paris. “In the last two years, 
feres have gone up about 30 percent in 
the U.S.A., except where Southwest Air- 
lines flies; so now they’re just as ex- 
pensive as Europe on a per- mile basis. If 
Europe follows the U.S. model, prices 
will continue to rise on short-haul 
routes.” 

Jackie Gallacher, deputy editor of Air- 
line Business magazine, said: “I think the 
low-cost carriers are driving change by 
going into new markets and offering 
lower unrestricted fares. Look at Debon- 
air; it’s not just operating our of Luton; it’s 
got a base in Munich and Barcelona. The 
huge carriers are thinking of setting up 
low-cost operations to exploit this mar- 
ket But will this damage their existing 
high-yield bread-and-butter business?” 



GOOD TRAVEL DEALS 


ARTS GUIDE 


BELGIUM 


I S R A I L 


Tervuren 

Royal Museum for Central 
Africa, lei: (2) 769-5211 . To April 
30: "Legacies of Stone: Zimbabwe, 
Past & Present" An overview of the 
cultural richness and diversity of the 
country, from the rock paintings of 
Paleolithic times to the stone ar- 
chitecture of Zimbabwe in the 12th 
and 13th centuries and to the mul- 
ti meefla contemporary art scene. 


Tel Aviv 

Museum of Art, tel: 695-7361, 
open daRy. "Rene Magritte: A 
Centen Jsl Tribute." The Belgian 
painter (1898*1967) questions the 
relationship between the real world 
and the world of fantasy, by placing 
realistic objects In unexpected and 
surrealistic oontexts. 


TALY 


BRITAIN 


London 

-tayward Gallery, tel: (171) 928- 
3144, open daily. To Jan. 4: “Ob- 
ects of Desire: The Modem Still 
Jfe." Traces the evolving lan- 
guage of modem art through still 
iles from Paris at the turn of the 
century, to the impact of Sunaal- 
sm, PopArtand post-modernist art 
n recent decades. Features 150 
saintings, sculptures, and objects 
created by more than 70 artists. 
Tate Gallery, tel: (171) 887-6000, 
apen daily. To Feb. 22: “Centenary 


Row 

CapAofine Museum. Piazza del 
Campidogno. tel: (6) 6710-2071, 
dosed Mondays. Continuing/ lo 
Jan. 20: "Henri Matisse: La Rev- 
elation West Venue de ^Orient 
Documents the influence of Ori- 
ental art In the French painter's 
works. 


tratition of carpet weaving in Indte, 
under the influence of the moguf 
emperors. Concurrently, to Feb. 8: 
“King ot the World: A Mughal 
Manuscript from the Royal Library, 
Windsor Castle.” More than 40 
paintings and two illuminations 
from the manuscript that was com- 
missioned by Shah-Jahan, builder 
of the Taj Mahal, 350 years ago. 

CLOSING SOON 

Nov. 22: “Alfred Hrtffcka: Sculp- 
tures et Oeuvres sur Paper." 
Musee-Galerie de la Seita, Paris. 


Nov. 23: “In Royal Fashion: The 
Clothes of Princess Charlotte of 
Wales and Queen Victoria. 1796- 
1901." Museum of London, Lon- 
don. 

Nov. 23: "The Gravity of the Moun- 
tains: Mountains and Inner Worlds 
from tiie Romantic Period to the 
Present Day.” Kunsthalle Krems, 
Germany. 

Nov. 23: "Wordrobe.” Metropol- 
itan Museum of Art, New York. 
Nov. 24: "The Quick and the Dead: 
Artists and Anatomy.’’ Royal Col- 
lege of Art, London. 





AIR INDIA 

London to India 
or New York 

"Companion Free Scheme” offers two-for-one in first or business class on 
flights from London to New York or destinations in India. 

AMERICAN 

AIRLINES 

Britain to 

United States 

Round-trip fares from London/Manchester or Birmingham to New York or 
Boston. £165 (S280); Denver. Orlando or Seattle, £231; Los Angeles, 
£246; New Orleans, £296 ; Honolulu. £393. Plus £45.50 tax. Conditions 
apply- For departures until Dec. 14 and from Dec. 25 to March 31. 
Trailfindera, (44-171) 937-7933. 

CANADIAN 

AIRLINES 

London/Toronto/ 

Auckland 

Round-trip fare to Auckland with Toronto stopover permitted in each 
direction for £549 (S933) plus £20 tax. For booking and departures until 
Nov. 30. Minimum stay is 7 days: travel must be completed by Dec. 7. 
Traitfinders. (44-171) 938-3939. 

CHINA 

AIRLINES 

Britain to Asia 

Free upgrade from economy to business class for flights to Bangkok and 
Taipei. Includes economy-class connections via Amsterdam from 20 U.K. 
airports. Until Dec.31 . 

EDELWEISS AIR 

London 
to Zurich 

Round-trip fares from London Luton tor £79 in economy and £119 in 
business class, compared wife British Airways business-class fare from 
Heathrow of £436. 

UNITED 

AIRLINES 

Britain to 

United States 

Buy a round-trip business-class ticket for an upgrade to first class on one 
sector. Until Dec. 15. 



•••..> ■■ 

BREIDENBACHER 

HOF 

Dusseldorf 

Weekend “Christmas Shopping" package for 640 Deutsche marks 
(S370) per couple per night in "deluxe” room (Saturday-Sunday) includes 
Continental breakfast, welcome champagne, fruit and flowers, Sunday 
morning concert Sunday lunch. Extra night for 310 Deutsche marks. Nov. 

29 to Dec. 22. 

CHATEAU 

MONTEBELLO 

Paris to Montreal 

"Winter Package” from 5,305 francs ($915) per person includes round- 
trip flight on Air France. 6 nights accommodation and 7-day car rental. 
Until April 30 (except during Christmas and New Year). 

HOTEL’ NEGARA 

Singapore 

Fifty percent off published rates of 340 Singapore dollars (S212) and 380 
dollars for angle and double “deluxe" rooms. Jan. 1 to March 31 . 

■8PBUALMTER- 

CONT1NENTAL 

Taipei 

Forty percent off all rack rates until Dec. 31 . 

MANDARIN 
ORIENTAL HOTELS 

Asia 

"Winter packages” at properties in the region. Examples: Hong Kong, 
2,280 Hong Kong dollars ($292) a night for a "deluxe city-view room"; SI 70 
in Jakarta; Manila. $195 fora regular room. Until March 3. 

MARINA 

MANDARIN 

Singapore 

"Weekend Escapade” costs 180 Singapore dollars (S1 12) per room per 
night (plus 14 percent tax and service). Stay two nights and get third night 
free. For arrival Fridays or Saturdays only. 

RARMEL1A 

HILTON 

Perth, Australia 

Weekend rates valid. Friday. Saturday, and Sunday nghts, from 160 
Australian dollars ($111) for two. Until Dec. 30. 

QUAIL LODGE 
RESORT & GOLF 
CLUB 

Carmel Valley, 
California 

‘Winter Package" for $198 per couple per night includes breakfast, Christ- 
mas gift and participation in “seasonal events." Dec. 1 to Jan. 28. 

RTTZ-CARLTON 

Kuala Lumpur 

Opening rate “deluxe" rooms from $140 a night Until March 31 . 

WESTBURY 

HOTEL 

London 

•Singles for £99 ($168) a night (doubles £110) including tax Children up to 
the age of 14 have their own room free. From Dec. 19 to Jan. 4. 

Nlhougti the )HT carsUfr checks three offers, pteose be lofftnromed ttm Berne Ira vti aperls may be unaware ol them, or inabte lo beck than. 


NETHERLANDS 



Amsterdam 

StedeQk Museum, teL (20) 5732- 
911, open daily. To Jan. 25: “Kazi- 
mir Malevich.” A collection of draw- 
ings in pencil, chalk, gouache, Ink 
and watercoiors by the Russian 
artist (1678-1935). , 


SPAIN 


Moots) uf Modem An. Yotfc 


Miro still life at Hayward 
Gallery in London. 

3ifts and Promises." Marking the 
1 00th anniversary of the founda- 
tion of the Tate Gallery, a efispiay of 
13 works selected from the pai fri- 
nge and drawings given or promi- 
sed to the Gallery. Features a 
Constable, a Sargent portrait, and 
i painting by the pre-Raphaelile 
James Campbell. 

Whitechapel Art Gallery, tel: 
171} 522-7888, dosed Mondays, 
lb Dec. 7: “Lines From Brazil.” 
Works by three contemporary 
3razitian artists: Adriana Varejao 
mixed media painting), Tatiana 
Srmberg (sculptures) and Rodrigo 
5aad (sculptures and performano- 
»s based on organic materials). 

5t. Ive* . 

rate Gallery St Ives, isk (1736) 
’96-543, Open daily. To April 26: 
Roger Hilton." Brings together 40 
laintings and drawfng9, as well as 
ikelches, by the British artist 
1 91 1 -1 97S). An abstract painter in 
he 1950s, Hilton later relntro- 
luced sea. boats, figures and land- 
.cape in his compositions. 


Barcelona 

Fundacio Joan Miro, tel: (93) 
329-1908, dosed Mondays. To 
Feb. 15: “CaJder" A celebration of 
the centenary of the birth of Al- 
exander Cakter with 150 sculp- 
tures, mobitas. stabiles and other 
objects created between 1 920 and 
1975. 

Madrid 

Museo Thyssen-Bomemisza, 
tel: (1) 420-39-44, dosed Mon- 
days. To Feb. 22: “The Triumph of 
Venus: Images of Women In 1 8th 
Venetian painting. "Approximately 
80 paintings by Tiepolo, Guana, 
Longhi and Canaletto document 
metaphors and figures associated 
with women and feminity In the 
Venetian taste. 


UNITED STATES 


PRANCE 


4lCE 

Jlusee d'Art Modems ei cTArt 
tontemporaln, tel: 04-93-62-61- 
52, dosed Tuesdays. To March 1 6: 

De Klein a Warhol: Face a France 
■rance/Etals-Unis." Focuses an 
ne artistic exchanges between 
: ranee and the United States at 
ne time of American New ReaBsm 
,nd Pop Art, in Ihe 1950s and ‘60s. 
features works by Arman, Chnsto, 
Ciein. Oldenburg. Raysse and 
rngueiy. among Others. 

*AfUS 

eu de Paume, tel: (01 ) 47-03-1 2* 
■o, dosed Mondays. To Jan. 4: 
Emil Schumacher." An exhibition 
.f paintings and works on paper 'by 
German painter (bom 1912) 

/ho evolved from figurative art in 
te 1940s to nonfiguratwe in tne 

lusee cTOrsay, tel: OMjMWJ; 
0. dosed Mondays. To March £■ 

Vithem Hammershoi." A selection 

f paintings by toe D anJsh . 
1864-1916). Best known tor his 
i tenors, Hammerahoj expressed 
imseH as an original ffgur^. ar- 
hltectural and landscape painter. 


Atlanta 

High Museum of Art; tel:. (404) 
892-4444, dosed Mondays. To 
Feb. 15: “Picasso: Masterworks 
from toe Museum of Modem Art." 
On loan from toe MOMA in New 
York, more than 100* paintings, 
sculptures, drawings and prints 
give an overview of Picasso's en- 
tire career. 

Houston 

Museum of Rne Arts, tel: (713) 
639-7300, dosed Mondays. To 
Feb. 1: "The Dark Minor, Picasso: 
Photography and Painting." A 
chronological view of Pfcasso's ex- 
ploration of photography, with toe 
photographs, 100 paintings, draw- 
ings. prints, collages and one 
sculpture, Illustrate toe relation- 
ship between the various metfia. 

Los Angeles 

County Museum of Art, tel: (21 3) 
857-6000. closed Mondays. To 
March 30: “Hirado Porcelain of Ja- 
pan from the Kurtzman Family Col- 
lection." More than 80 objects of 
Hirado ware. i.e. white porcelain 
often adorned with panting In un- 
derglaza blue: 

NewYoRK 

The Jewish Museum, taf: 212 ) 
423-3200, dosed Fridays and Sat- 
urdays. To March 29: “Assign- 
ment: Rescue, toe Story of Vtelan 
Fry and the Emergency Rescue 
Committee-" Photographs, arti- 
facts. and installations evoking 
cates, trains, internment camps In 
occupied France, document toe 
rale of vferian Fry. an American 
who rescued European intellectu- 
als and political refugees. 

Metropolitan Museum of Ait tel: 
(212) 570-3791 . dosed Mondays, 
to March 1, 1998: “Flowers Un- 
derfoot: Indian Carpels of toe 
Mughal Era.” With a selection of 60 
carpels from the 16to to toe iBto 

century, the museum examines the 



Find the best 
restaurant 
in town. 


Here is your chance to win the Nokia 9000i 
Communicator, the all-in-one communicator, with 
a phone, fox, e-mail, calendar and the Internet For 
the second prize you could win the naturally-shaped 
Nokia SnOi. Or you could win third prize, the easy- 
to-use Nokia 3110. You will also have the chance to 
win one of ten Nokia promotional sports bags with 
a T-shirt, cap, socks, towel and sweat suit 

This competition runs until December 19, 

1997, covering 10 cities, one on each Tiiesday-and 
Friday over the five week period. If you miss a city, 
catch up on the competition Web site at 
www.ihtcom. You can participate until January 19, 

1998. 


3- Vtfd on* atotfcw. Mb dwowc 

3- Earn wt «r acns*4 Inn scifl. (anics and jgets el flw mean a Ua 

*■ lb aaatndeacc •» bt craned mb Pioaf ft pester «* c-rad «*»■ npwsljW «*i>r icapa 

S- No o»i ttmiM «o pm 

*- *di de draw « Mnrav ^ T9M and putfenrd on Ok conptwon Via an: ana in ihe 

nrwmo on Ft*wit n, «* 

I- On w bobir. Hie aim's Oman K find. 

fr n<e Pntfwn iwm K n^a in Motar Oscxm u dnaBv Miy ravb>v nonmn. 

a a take act mb «i tfw wo Mwltaran amsde aw iwO wmt ■*■*. * oprtoo. rate 
< dont* it t* wuettoa a mt nt 

Ta MR. ■raw (hr qu ui a m ana tend in *c coupon 


And win 
the Nokia 9000i 
Communicator 


The Web site will run until February 22, 1998, to 
announce the winners. 

At the end of the competition, all of the 
restaurants that were highlighted in the 10 cities 
will be available to all Nokia Communicator owners 
on a specially created International Herald Tribune 
Web site, specifically tailored and designed for use 
on the Nokia Communicator. 

The winners will be drawn out of a hat on 
-February 9, 1998, and announced in the International 
Herald Tribune on February 11. The more times you 
enter, the more chances you have of winning. Enter 
now and enter often with a different restaurant 
each time! 


IMOKIA 

Connecting People 





What is the capita) of FRANCE? 

My favourite resaurant in THIS CITY is trie 


because 


.. COM* 


What sort Of restaurant iS if? 
O Gourmet O European 
O Indian O Famihr 
O Otoer 


OOrie™ 1 
OOrtat Value 


Name 

Job title 

Company 

TeL 

E-nttl address 

Address 

Post rode <jty_ 

Country 


O J do nor wish to w»w relevant details 
• from other earefutty screened companies. 


Send the coupon m : IHT/Nokia 9000i Communicator competition. International Herald Tribune, 1B1 Avenue Charles- De-Gaulle, 92521 
Neuriiy Cede*. France Dr fax : (33-1) 41 43 92 la Or e-ma'J at noUa©ihtrom. Or pertidpanr on the competition Web site: wwwjfiuoffl. 


Isn't it time 
you visited 

A DREAMLAND ? 





The world's longest 
unbroken sea beach. 
The world's largest 
mangrove forest. 
Home of the 
Royal Bengal Tiger. 

Thousands of 
rivers and rivulets. 
Colourful hill tribes. 
Bangladesh - 

a piece of heaven on earth. 




Biman 


BANGLADESH AIRLINES 

Your home in the air 



PAGE 12 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


INTERNATIONAL 


Terror Attacks Will Cease 
If Leader Is Released, 
Egyptian Militants Say 


By John Lancaster 

WgAfogfon Post Service 


CAIRO — Three days after claiming 
responsibility for the slaughter of 58 for- 
eign tourists in Luxor, Egypt’s largest 
militant group sakl Thursday that it would 
suspend further attacks if the government 
secured, the release of iis spiritual leader. 
Sheikh Omar Abdel Rahman, from prison 
in the United States. 

In a statement foxed to foreign press 
agencies, Islamic Group also demanded 
that the government release jailed mem- 
bers of die organization and sever re- 
lations with “the Zionist entity,” oth- 
erwise known as Israel. 

The list of demands added to die im- 
pression here that elements of the or- 


VICTIMS: 

No Answer for Swiss 

Continued from Page 1 

sacre, Mr. Zihlmann called home to say 
that everything was fine. A day later he 
was dead, but his .wife survived with 
severe injuries from the attack by Is- 
lamic militants at the Temple of Hat- 
shepsut 

Until Wednesday, according to the 
Blick tabloid newspaper, their younger 
daughter, also named Maria, had not 
been told that her father was dead, but 
she kept asking questions and drawing 
her own conclusions. “She put all her 
toys away and said: Daddy’s gone,” her 
grandfather, Hans Zihlmann, 80, was 
quoted as having said. 

The scale of killing in Luxorhas called 
forth old, secretive reflexes among many 
Swiss, who believe it is their duty to 
protect the privacy of bereaved families 
rather than p ublicize their id entifies or 
discuss their destinies. 

“This is a cultural thing, ” said a 
Foreign Ministry official in Bern to ex- 
plain why the authorities would not issue 
a list of the dead. “We want to prevent 
this kind of thing ,” the official said, 
referring to interviews with bereaved 
family members and survivors that have 
appeared in Switzerland. 

That defensive response has been re- 
inforced by a sense or shock at the mag- 
nitude of the killing. According to travel 
agencies, thousands of Swiss have now 
canceled winter vacations in Egypt; on a 
package-tour flight to the Red Sea resort 
of Shann el Sheikh on Wednesday, 66 
people booked but only 5 boarded the 
plane. 

“We all know that murder and death 
can affect us and our families,” the 
minister of transport, Moritz Leuenber- 
ger, said at the airport service for the 
dead, speaking to relatives huddled on 
rows of chairs against the damp chill. 
“But we could never imagine the reality 
we now face because this reality is be- 
yond imagination. ' ’ 

WARNING: 

Risk to Americans 

Continued from Page 1 

“Some groups have supporters and 
networks around the world/’ said Hil- 
counterter- 
Institute for 
Policy. “There’s an infra- 
structure that can be called on.” 

The Islamic Group, for example, was 
linked to a 1995 attempt to assassi n ate 
President Hosni Mubarak of Egypt 
while he was in Ethiopia, the first time 
the groirn was known to have carried ont 
an attack abroad. Individual Malaysians 
are known to have (rained at terrorist 
camps in Lebanon and Sudan. 

Terror groups are using modem tech- 
nology, including the Internet, to 
broaden and shift operations to other 
countries. 

“It’s a somewhat worrisome trend,” 
Ms. Mann said, “and qualitatively dif- 
ferent from what we’ve seen before.” 

Just bow far some of those groups 
reach Is not clear. 

Bernard Reich, a Georgetown Uni- 
versity professor who follows terrorism 
issues, said that he expected the risks to 
remain focused in Pakistan and Egypt 
for now. “Latin America,” he said, “is 
not likely to be a place where a Pakistani 
terrorist is going to strike an American 
tourist.” 

But he would not dismiss the threat in 
Malaysia, saying, “When these things 
reach a high visibility, at a time of ten- 
sion, yes, I take them seriously.” 

The possible defusing of the recent 
Iraqi crisis is expected to lower concerns 
in some regions. But the Kasi and 
Yousef cases are not over yet, and both 
have infuriated their supporters. 

On Jan. 23. Mr. Kasi will be sentenced 
for the CIA attack. A jury has recom- 
mended die death sentence. And some- 
time early next year, Mr. Yousef is ex- 
pected to be sentenced on the charges 
relating io the 1993 World Trade Center 
bombing. 

Mr. Reich emphasizes that odds are in 
the traveler's favor, noting that 45 million 
Americans traveled abroad last year, and 
only a few hundred were involved in 
incidents targeting Americans. Still, he 
and others counsel caution and attention. 

The State Department regularly issues 
alerts about heightened risks of violence, 
crime, political instability, border un- 
rest, bomb threats to airlines, as well as 
public health dangers, transportation dif- 
ficulties or natural disasters. 

The information is available by 
phoning embassies or consulates, or the 
State Department in Washington (202- 
647-5225). It is also available at a de- 
partment Web site on die Internet (http;/ 
/navel jtate.gov), which offers informa- 
tion sheets on every country. 



ganization, perhaps directed from 
abroad, may have broken irrevocably 
with their traditional leaders, most of 
whom are now serving life sentences in 
Egyptian jails and last summer declared 
an unconditional cease-fire. 

Hie unprecedented savagery of the at- 
tack Monday, in which four Egyptians 
also died, has given rise to fears of a new 
and deadlier meed of Islamic terrorist in 
Egypt: younger, more willing to die for 
his cause and perhaps inspired by the 
bloody example of Algeria, where ci- 
vilians have often d*ed in mage triflings 
ascribed to Islamic extremists. 

“I think they are fascinated with the 
Algerian model,'' said Hala Moustapha, 
a specialist in militant groups at tire A1 
Ahram Center for Strategic Studies. 
“These groans represent the younger 
generation. They are more fanatical.” 

Notwithstanding the honor of the 
massacre Monday, tire level of violence 
in Egypt has never approached (hat of 
Algeria, where an Islamic insurgency 
has claimed the lives of tens of thou- 
sands of people since 1992. About 1/300 
people have died in political violence in 
Egypt since 1991, when Islamic Group 
launched its campaign to replace ihe 
secular military-backed government of 
President Hosni Mubarak with an Is- 
lamic state. 

An oftea-brutal government security 
campaign has played havoc with die 
organization’s chain of command, driv- 
en its armed followers from major cities 
and largely confined its violent oper- 
ations to a handful of rural provinces in 
Egypt's Upper Nile Valley. 

A growing body of evidence, 
moreover, suggests that government 
negligence contributed heavily to the 
high death toll at the Temple of Hat- 
shepsut on the West bank of the Nile 
across from the city of Luxor. 

According to Western diplomats and 
Egyptian press accounts, the site was 
guarded by just two members of Egypt's 
tourist police, neither equipped vnm ra- 
dios for summoning help. At' die time of 
die attack, only four police were on the 
entire West bank; the remaining 136 
were across the river in Luxor itself, 
nearly half an hour’s drive from the 
temple, according to a Western diplomat 
who has extensively investigated the 
massacre. 

Most of Luxor’s archaeological tour- 
ist attractions are on the West Bank and 
die area swarms with foreigners, es- 
pecially at this time of year. 

The diplomat said that the first gov- 
ernment presence at the site, at 9:50 
AM., were four ambulances. “Then at 
935 the first police showed up,” he said. 
“It took them 25 minutes to respond.” 

Mr. Mubarak has publicly acknowl- 
edged the shortcomings. During a visit to 
the site Thesday, he described security 
there as “a joke” and shortly afterward 
fired his interior minister, die Luxor po- 
lice chief and a number of other security 
officials. Mr. Mubarak called an emer- 
gency cabinet meeting Thursday to dis- 
cuss ways of improving security for for- 
eign tourists, who contribute more than 
$3 billion a year to Egypt’s economy. 

But for the moment at least, the- au- 
thors of the massacre are clearly feeling 
emboldened by their success and de- 
termined to milk it for maximum pro- 
paganda value. 

In their statement Thursday, the group 
offered “to bait its military operations 
for a while if die Egyptian regime acts 
likewise and stops its unjust campaigns 
against the sons of the Group, releases its 
prisoners, returns Sheikh Omar Abdel 
Rahman to fais homeland” and ends 
relations with Israel. 


TRUFFLES: 

Dog-Eat-Dog World 

■ Continued from Page 1 

were attributed to venom laid down by 
pheasant hunters each spring to kin 
foxes that compete for their prey. 

What appears to be happening now is 
a cruel twist of the law of supply and 
demand: An unusually dry summer 
.stretched into October, shriveling Italy's 
normal crop of white truffles by about 
half and doubling their price, to as high 
as $70 per ounce on the wholesale mar- 
ket; this stiffened competition to find 
diem, raising the peril for the dogs. 

“When the price goes this high, war 
breaks out,” said Luigi Bigi, a veter- 
inarian who has seen much of die 
carnage. “The dogs lose.” 

Italy is die only major producer of 
white truffles, which are being hunted in 
Umbria, Toscany and Piedmont until 
mid-December. 

The white truffle is even rarer and 
more pungent than the precious black 
truffle that is harvested u die spring in 
France, Spain and the same pans of 
Italy. 

Truffles’ versatility and value to the 
regional economy are on display this 
time each year under a sprawling white 
tent in the center of this ancient and 
prosperous town. The Truffle Fair fea- 
tures more than 30 varieties of truffle- 
seasoned oils, cheeses, sauces and dried 
pasta — as well as whole truffles die size 
of golf balls. 

Truffle hunters, mostly fanners and 
railed people with the time to search, 
earn up to 70 percent of the wholesale 
price lor their musky, nugget-tike dis- 
coveries. 

“Depending on how much time you 
invest, how much you know and how 
good your dog is, you can make as much 
as 10 million lire in a season,” about 
$6,000, said Fabrizio Gragnoli, a 
garbage collector who stretches his in- 
come by truffle hunting on weekends . 
with Camillo. 

Camillo, half pointer, half setter, was 



Bryan Baxter, a British monitor of missiles in Iraq and one of more than 70 inspectors expelled from the 
country, offering a credit card as he paid his hotel bill in Bahrain on Thursday, preparing to return to Baghdad. 

IRAQ: Wary Clinton Welcomes Saddam 9 s Move on Inspectors 


Continued from Page 1 

help and British backing, has defused an 
awkward confrontation with both Bagh- 
dad and some of its allies without resort 
to force. 

The United States seemed to have 
been able to preserve the validity and 
weight of UN resolutions, restore the 
presence of U.S. and other weapons in- 
spectors without too dangqroos a delay 
and to say, with credibility, that it has 
given Iraq nothing concrete in return — 
at least for now. 

And that success, inevitably, is not 
without serious costs to the American 
diplomatic position for the future. 

U.S. officials argue strenuously that 
this solution is a victory for a united 
Security Council and a defeat for Mr. 
Saddam, “who has had to reverse course 
and restore the status quo ante,” a senior 
official said 

“We have to be comfortable with 
taking yes for an answer, and the answer 
is yes to getting inspectors back without 
conditions,” said the State Department 
spokesman, James Rubin. “We protec- 


ted all our rights and gave away noth- 
ing.” 

But Mr. Saddam appears to have lost 
nothing by this confrontation, and has 
gained a si gnificant amount of attention 
and sympathy. 

While the inspectors are expected to 
return to do their work, the political 
status quo will never be restored and the 
United States will find itself tinder in- 
creasingly open pressure in the future 
from Russia, France and Arab states to 
bring the sanctions against Iraq to a 
more-rapid dose. 

And a Washington did not negotiate 
directly with Mr. S addam, as it swears it 
will not do, it came dose, using the 
agency of the Russian foreign minister, 
Yevgeni Primakov, instead. 

Iraq told Russia that it would allow the 
unconditional return of all UN weapons 
inspectors, including Americans, Sec- 
retary of State Maddeine Albright said 
Thursday morning after an extraordi- 
nary 2 A.M. meeting in Geneva of the 
five permanent members of the UN Se- 
curity Council. 

Mr. Primakov held out to Mr. Saddam 


the hope of speedier work by the in- 
spectors, which will give Iraq a sense 
that the UN monitoring will not go on 
forever. 

Iraq also wants a change in the com- 
position of the team and an end of all the 
sanctions impnsaH in 1991. 

In their statement at the end of the 
meeting, read by foe British foreign sec- 
retary, RobinCook, the five announced a 
meeting on Friday in New York of the 
UN Special Commission, or Unscom, 
which carries out the inspections, “to 
dismiss and advise, among other im- 
portant issues, ways to make Unscom’s 
work more effective.” 

Those recommendations will be sub- 
ject to approval tty die Security CoonciL 

But Mrs. Albright also suggested that 
more efficient inspections might mean 
more personnel, which could dilute the 
percentage of Americans slightly. They 
now account for about 10 percent of the 
70-odd inspectors. 

Such a change, which is not assured, 
could be presented as face-saving al- 
terations to a sanctions regime that Pres- 
ident a inton has said could last as long 


ACCORD: An Easy Test of Its Efficiency in Iraq Is ‘WUl It Wbrk?’ 


Continued from Page 1 

recent differences between Washington 
and its allies, the Iraqi leader may see his 
climbdown as only a tactic. 

“Saddam probably doesn’t think he 
blinked,” an Arab diplomat said, noting 
that the two-week confrontation with the 
UN had cost Baghdad nothing. 

On the other hand, the Clinton ad- 
ministration, even if it made no con- 
cessions, has accepted some changes in 
die monitoring regime pins allied calls 
for a fresh look at sanctions — changes 
that resulted from Mr. Saddam’s de- 
fiance. 

In accepting a deal that may prove 
only a lull, Washington is gambling that 
it mil be easier to assemble an anti-Iraqi 
coalition if Mr. Saddam egregii 
fails to respect the current a< 

On paper, the UN monitors have won 
back the power to go into Iraq and com- 
their inspections, even accelerate 


A key indicator of what this means in 
practice will be the success of the mon- 
itors in entering the so-called presiden- 
tial buildings that have been immune 
from inspection and where inspectors 
say Iraq is hiding critical materials for its 
chemical and biological warfare pro- 
gtams. 


UN insistence on inspecting these 
sites — intelligence headquarters, Re- 
publican Guard facilities, presidential 
and other buildings related to 
}’s national security — apparently 
triggered Baghdad’s decision to expel 
U.S. monitors two .weeks ago. 

■ The United-States, in accepting aRus- 
sian -brokered deal with lean, was only 
accepting “unconditional compliance 
by the Iraqis,” according to James Ru- 
bin, the Stale Department spokesman. 

He said that Secretary of State 
Madeleine Albright made it clear to For- 
eign Minister Yevgeni Primakov of Rus- 
sia that “the United States could not 
agree to any commitments that he may or 
may have not made with the Iraqis,” 
sparifically about the future of econom- 
ic sanctions on Iran. 

Foreign Secretary Robin Cook of Bri- 
tain said that London had not agreed to 
any conditions, even those accepted by 
Russia. Mr. Saddam, he said, “has not 
won any compromise. There are no con- 
cessions. There is no deal.” 

It is conceivable that Mr. Primakov, 
who has never abandoned hopes of see- 
ing Moscow return as a player in the 
Middle East, made a deal with Mr. Sad- 
dam without any commitments by other 
members of die UN Security Council. If 
he did, the deal is likely to be only an 


interlude that will quickly revert to a 
showdown between Iraq and the United 
States. 

Bat Mrs. Albright acknowledged that 
a discussion “of some kind” about ad- 
justing the UN approach to Iraq was 
probable now — presumably die price 
for: getting- Russia and France to close* 
ranks in a diplomatic solution dial re- 
stored Security Council unanimity. 

Finding a military option unpalatable, 
the Clinton administration seized a dip- 
lomatic option that, technically speak- 
ing, largely restores the status quo. as 
sought by Washington. But several dip- 
lomats said that there seemed to be un- 
spoken U.S. commitments to rethink 
some details of its Iraqi policy. 

While voicing relief and praise for 
U.S. deftness in orchestrating the threat 
of force and a diplomatic opening, a 
French diplomat said that the “Clinton 
habit of ignoring foreign problems too 
tong has again left Washington with 
fewer options than it thought.” 

Most officials and diplomats, inter- 
viewed Thursday on condition of an- 
onymity, predicted that the inspectors’ 
return will lead quickly to a resumption of 
Mr. Saddam's highly organized effort to 
hide chemical and biological weapons. 

Blocking these Iraqi efforts may 
more difficult after a two-week 


g.pm 



Wct«ticVn» Aindwal Fct 

FIERY FREIGHT — East German fire fighters inspecting the Elsterwerda rail station, where a train 
carrying gasoline and heating oil derailed and exploded Thursday, killing at least two of their colleagues. 


5 Powers Thank 
Russia for Its Role 

Roam 

Following is the joint statement 
on the Iraq crisis issued by the five 
major powers and read by Foreign 
Secretary Robin Cook of Bn tain 
effter talks in Geneva early Thurs- 
day: 

“On the night leading into 
November 20 in Geneva, there was 
held a meeting of foreign mimstere 
of Great Britain, the Russian Fed- 
eration. the United States and 

Ranee and of the representative of 

the minister of foreign affairs of the 
People’s Republic of China. 

*®The participants of the meeting 
underscored the importance of the 
efforts in solidarity of the five f«r- 
manent members of the UN Se- 
curity Council aimed at the uncon- 
ditional and complete fulfillment by 
Iraq of all of the relevant resolutions 
of the UN Security Council. 

“They appreciated the diplomat- 
ic initiative undertaken by Russia, 
in contact with all the other mem- 
bets of the P5, which the partic- 
ipants in the meeting hope will lead 
to the unconditional decision by the 
leadership of Iraq to accept the re- 
turn of the personnel of the Special • 
Commission of the UN Security 
Council in its previous composi- 
tion, for work .as stipulated in Se- 
curity Council Resolution 1 137. 

“The participants of the meeting 
supported the intention of the Spe- 
cial Commission of the UN Security 
Council to meet on November 2 1 in 
New York to discuss and advise, 
among other important issues, ways 
to make Unscom’s work more ef- 
fective on the basis of the reso- 
lutions of the UN Security Council. 
The recommendations from that 
meeting will be subject to the ap- 
proval of the Security Council.” 




as Mr. Saddam rules Iraq. 

Mrs. Albright said that the lifting of 
sanctions “will probably be discussed at 
some time, but the United States has not 
agreed to anything.” 

In addition to Mrs. Albright, Mr. Pri- 
makov and Mr. Code, die Geneva meet- 
ing was attended by the French foreign 
minister, Hubert Vedrine. and China's 
ambassador for disarmament, Sha 
Zukang. 



Yevgeni Primakov listening to a' 
translation during the Iraq meeting. 

these sources said- Politically, too, Wash- 
ington seems to have let the Iraqis dram- 


that are now public ancftiable to widen. 

For example, the United States ac- 
cepts unofficially that Iraq’s nuclear and 
missile programs — but not its chemical 
or biological arms — have been ef- 
fectively dismantled. Even so, Wash- 
ington rejects French and Russian ar- 
guments in favor of rewarding partial 
Iraqi disarmament with a diplomatic 
“carrot” — specifically, a pledge for a 
phased lifting of sanctions as Iraq is 
declared clean by UN inspectors. 

Just how mucb material remains con- 
cealed was indicated in a public warning 
by Richard Buder, chair man of the UN 
monitors, hours before the Geneva ac- 
cord. 

Mr. Butler told the Security Council 
that Iraq has equipment that could pro- 
duce io a week four bombs of anthrax, a 
deadly plague. Within weeks, Iraqi fa- 
cilities could produce chemical 
weapons, including mustard gas and 
probably the nerve gas VX, he warned. 
•Tons of nerve gas vats are unaccounted 
for. 

Now, Mr. Butler said, “as each day 
passes, our database degrades and the 
possibility of materials' having been 
moved increases.” The terms of Iraq’s 
surrender after the Gulf War in 1991 
provide for the country’s military fa- 
cilities to be kept under permanent, close 
monitoring by electronic equipment and 
human teams. 


But the effectiveness of that perm 



one of ttie first to taste poison this fall. As 
he sniffed the woods in eariy October, 
his legs wobbled and then folded under 
him. Mr. Gragnoli rushed him to Mr. 
Bigi, who pumped out Camillo’s stom- 
ach and saved- his life. 

Most poisoned dogs die in agony be- 
fore they reach Mr. Bigi, whose office 
has become a trading post of information 
about die slaughter. 

Some victims have ingested poison 
laid near their rural homes, evidence that 
die killer knew exactly which -dogs he 
wanted to eliminate. Others, like Kunba, 
Giuliano Borghini’s block English set- 
ter, were hunting game and ate poisoned 


bait apparently meant for truffle dogs. 
Kimba died on the spot. 

Lazzaro Frattini, 63, who once un- 
earthed an 850-gram ( 1-pound, 14-ounce) 
truffle, is more open man most truffle 
hunters. But on a Sunday hike through the 
woods, he showed how carefully be pro- 
tects his turf — and his dog Leo. 

Lumbering after Leo each time the 
mongrel scented a truffle and pawed the 
ground, the hefty, asthmatic hunter dug 
up a dozen in about two hours. His 
breathless pursuit had three explana- 
tions: to keep Leo from eatingpoisom to 
keep Leo from eating thefrume (he got 
biscuits instead); and to extract the 


truffle and cover the hole quickly, with- 
out being seea 

A tree whose rtxtts sprout a truffle one 
year will keep sprouting, Frattini ex- 
plained. After 45 years in these woods, he’ 
knows many such trees and wants to keep 
their identities to hims elf. Last week he 
had one close call; be covered a truffle 
hole and resumed a nonchalant hiking 
pose just before another hunter passed. _ 

A retired schoolcustodian, Mr. Frattini 
believes t!te killer may be someone with a 
day job who resents die decade-old re- 
gional ban on truffle hunting after dark. 

He believes theba&shonld be lifted so 
evervnnA orTs a -fair rhftnRR. 


. . .. s P*ograms 

weapons, missiles and bioii 
gical and chemical weapons so that ij 
spectore know what to look for. 

The UN monitors are supnosed 
lave the last word in pronouncing 
clean of illegal weapons and opening ti 
way to end economic sanctions, and tr 
apparently hopes to find the monho 
easier to delude in the future 


It seems accepted, even in Washin 

^ that the UN body will be enlS 

reduce the relative weight of U S mn 

itors and include more experts from 

entries, especially FraSe and 
But hopes of weakening the monitc 
may backfire if these neS elS’E 
die majority view that the eviden 
points to Irani violations. Paris and Mr 
cow would find it hard to take a ImJr 
view, of Iraq's performance if 
from their own countries decIineSf 
give Baghdatidearance. . U ° ed 






U^-dl ! j &0 


SPONSORE 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


PAGE 13 


SPONSORED PAGE 


Business to eBusiness: Market Intelligence 


Transforming Data Into Knowledge 

Nen technologies let businesses transform info overload into a rich vein of usable knowledge 


B abJe m est ^ rr f tes ’ the amount of data avail- 

^ us,ness Rubles every one-and-a-half 
. iit# 5 ““ businesses are currently able to analyze 

material ava' ft? 1 * P® 0 ® 4 °f it Add to that the amount of 

{oveiTa! biUion records and on die Internet 

(over a billion Web pages by the year 2000), and in- 
formation overload becomes a colossi menace/ 

ariinW H 0t ! “""Wge. however. The transform- 

^ ** ° U I er **» ^>*»y to use knowledge 

business decisions is what market 
intelligence, or business intelligence,” is all about. 

< BI) ^companies, oremiza- 


. , , — *iu uivu vujmuuas, wugoL uiou 

marketing, develop more personalized and more cost- 
effective customer service, and lower customer turnover. It 
can also help reduce fraud and abuse a nd improve business 
processes, with cost savings throughout die production and 
distribution system. 

Business-intelligence systems will become “the cor- 
porate knowledge base of tomorrow,” says Ben C. Bames, 
worldwide general manager for IBM’s Business Intel- 
ligence Solutions unit Once, called decision-support sys- 
toms, they were originally viewed as extensions of a 
company s information-technology department Today they 
use more powerful and sophisticated technology, the 
emphasis has shifted to business benefits. 

A fost-growlng market 

Who should be using business intelligence? “The needs are 
both horizontal and vertical,” says Howard Dresner, vice 
president and research director for die Gartner Group, a 
technology consulting company. “Every co mpan y needs to 
analyze its profit and loss, financial sales, human resources 
and quality assurance. Consumer-goods and telecommu- 
nications companies and financial-services n rp w wgtiww wiD 
clearly benefit Fraud detection improves any business.” 

International Data Corporation, a market-research firm, 
reports a return on investment for a business-intelligence 
system of more than 400 percent after 23 years. IBM cites 
predictions that the market for such analytical systems wifi 
eclipse that of transactional computers by 2005. 

The backbone of a business-intelligence system is the 
data warehouse, a repository of data about an organization’s 
customers, products and services. Cisco Systems, which 
makes computer-networking equipment, built its data ware- 
house four years ago and realized “$300 million in quan- 
tifiable cost savings last year, mainl y thanks to the use of 


business intelligence,” says James Richardson, president of 
Cisco Systems’ Europe, Middle East and Africa division. 

Driving forces ‘ 

What is driving this interest and investment? External 
factors such as globalization, deregulation and tbe resulting 
competition play a major role. Tbe increasing use of 
networks (foe Internet and corporate intranets) and client- . 
server computing have made information more accessible 
to greater numbers of employees. 

Date about customer behavior are collected as a matter of 
course by telecommunications companies, banks with cred- 
it cards and ATM machines, stockbrokers, retailers with 
point-of-sale systems and loyalty cards, travel reservation 
systems, health-care providers and insurance companies — 
foe range is wide and growing. 

Without foe help of business intelligence, a company’s 
view of a customer is like that of foe six blind men 
describing foe elephant One feels foe small tail, one foe 
flexible trunk, one foe massive feet With Bl, a unified view 
is possible. “You may be unprofitable to the bank in one 
department, but a highly profitable customer overall,'’ 
points out Martin Dlsley, director of technology vision and 
research, Andersen Consulting Europe. ‘ 

Retailers are targeting their marketing, optimizing sales and 
improving brand management Herbert Budd, general man- 
ager for Europe, Middle East and Africa in IBM’s Business 
Intelligence Solutions unit, describes how Catalina, a coupon 
dispenser in foe United Slates, improved its redemption rate 
by a factor of 10 when it began using Bl. 

The cost ofhealfo-care fraud is $1 00 billion in the United 
States alone, so Bl systems that reveal patterns of possible 
abuse represent enormous cost savings. IBM and U.S. 
insurer CIGNA Healthcare have developed a Fraud and 
Abuse Management System for use by private insurers. 

IBM’s clam that 70 percent of foe world’s data resides in 
IBM systems is a measure of the importance of the market 
to foe fmn. The Palo Alto Management Group est i mate s 
that IBM sells $1 3 billion annually in business-intelligence 
hardware, software and services, more than twice as much 
as its nearest competitor. It has established a $47 million 
Teraplex Center, where its customers and partners can pre- 

“TBMfc very effective in business intelligence,” says an 
analyst from a leading technology consultancy, “because it 
has vast experience with iaige databases, it has a large existing 
customer base, and it uses its knowledge gained from its own 
intelligence tools to market effectively to its customers.” 


E3 

3 

3 



f Business intelligence is foe gathering, organizing and analysis of vast amounts 

of data to gain knowledge that can be used to make better business decisions. 


U 







What sources of date can 
be mraed to develop business 

intelligence? 

Records of customer transactions < 

Customer profiles 4 

e.g„ responses to surveys or mar- it 
keting promotions, information tn 
provided by loyalty-card 
applications J §|p§i j 

Customer correspondence 

e.g^ letters, e-mail, call-center W 

queries or requests » 

Information bought from outside 
sources 

e.g., demographic data, marketing lists 

Pubfidy available information 

e.g., patents, press reports, Internet 
1^“ J* 


* ^ V ■! • 


UPSi 


rapefisi 






Refining Customer Relationships 

A story about beer and questions. It finds relation- those 8,000 to develop a pro- Loyalty cai 
diapers has become ships and niche segments file of likely prospects, then wealth of data 
a cliche in the annals that would re m ain undis- did a mailing to potential ness’s most ft 


What About Consumer Privacy? Informed Consent Is the Key 


A story about beer and 
diapers has become 
a cliche in the annals 
of business intelligence. But 
it remains a classic example 
of how “discovery-driven 
inquiry,” also called date 
mining, can pay for itself 
A giant U.S. retailer 
wanted to know what were 
its most frequently linked 
purchases. It used data-min- 
ing techniques to search its 
database and found foe un- 
likely combination of... beer 
and diapers. 

“When these two hems 
were placed next to each 
other in foe stores, sales of 
both soared,” reports 
Nirmalya Kumar, professor 
of marketing and retailing at 
IMD, foe international busi- 
ness school in Lausanne, 
Switzerland. 

A discovery-driven in- 
quiry is a data search for 
patterns and classifications 
in the absence of directed 


questions. It finds relation- 
ships and niche segments 
that would re m ain undis- 
covered by traditional meth- 
ods of statistical analysis. It 
doesn't give answers, but it 
does offer points of further 
inquiry. 

McDonald’s uses date- 
mining tools from IBM to 
analyze its menus and sales 
and foe profitability of com- 
binations of products at van- . 
ous price points. Victoria’s 
Secret found that black 
lingerie sells better in foe 
Not*, other colors in foe 
South, and that white is the 
top choice of brides. 

Spain’s Banco Credito 
Hispanoamericano used 
IBM’s Intelligent Miner to 
bolster use of its phone- 
banking service. The bank 
had determined that foe 
number of potential custom- 
ers for phone banking was 1 
million, but only 8,000 had 
signed up. So they used 

X 


Making Sense of Words 

"Knowledge is the only instrument of production that is 
not subject to diminishing returns,” wrote economist J.M. 
Clark 70 years ago. Today, the potential returns are 
greaterthan ever, but the Instrumentitseif — a company’s 
database of information — has grown exponentially. 

Because 80 percent of a company’s data repositoiy is 
in text form, a company may achieve significant returns in 
productivity or competitive advantage if it can manage its 
text-based knowledge. 

Bectricrtfi de Fiance (EOF) has taken several steps in this 
direction. GGrakJ Piat, a research engineer at EDF, wanted 
to know how toe press viewed electric cars as an emerging 
means of traisportation. But he didn’t have a staff large 
enough to read thousands of articles and synthesize them 
in a uniform fashion. So he asked IBM, which put text- 
mining tools developed at IBM’s European Centre for Ap- 
plied Mathematics (ECAM) to work analyzing press dip- 
pings on the Internet EDF was able to discover a tfiscemWe 
positive shift in opinion about the electric vehicle. 

EDF is involved in another project with IBM to analyze 
customer satisfaction. Eventually, date collected In cafl 
centers — or anything captured electronically and publicly 
available — can be incorporated into such studies. 

"if you getl30, 000 phone calls aday in your can centers, 
how else can you compile the reacts?" asks Herbert Budd 

of IBM’s Business Intelligence Solutions unit 
■ Text-mining tools can be used for fraud detection, 
decision support, and analysis of news media, patent 
portfolios and public opinion surveys. Text mining can be 
integrated with a company’s intranet or internet Web site 
to maximize search capabilities for employees or final 

customers. „ . . . 

Text-based knowledge has become another tod of 

production. 


For more information on e-BuswEss 

Contact IBM by email at mharvey@fr.ibm.com 
or by fax at +331 41 88 52 50. 

For examples of European ebusiness initiatives, 

consult htto://www.europe.itrocom/ix:/customer 
Look for the "Business to eBusiness” series on the IHT Web 
com/IHT/SUP/etfemrnl. Th. 

jsrrw- « “its. 

hotlinks the following key «««* to °***. 

• Business intelligence • Date mtnmg • Text mining 


those 8,000 to develop a pro- 
file of likely prospects, then 
did a mailing to potential 
customers whose character- 
istics matched those culled 
from mtnmg The response 
was “very satisfactory,” 
says Herbert Budd of IBM’s 
Business Intelligence Solu- 
tions unit 

Who i** n use data mining ? 
Howard Dresner, vice pres- 
ident and research director 
of foe Gartner Group, a tech- 
nology consulting company, 
estimates that a company 
should have about $100 mo- 
tion in sales to use date rain- 
ing, but die volume of date is 
more important than the 
volume of sales. A mail-or- 
der house with sales of $20 
million is a Hkely candidate 
for date mining, he believes, 
because ofthe large volumes 
of customer information 
available. “By using these 
tools they can save money 
and increase productivity,” 
he says. 

No more than 5 percent of 
large businesses are currently 
using date mining, according 
to some analysts. But every- 
one is thinking about 
“whole-life customer prof- 
itability. ” That diaper-buying 
beer drinker is worth $1 8,000 
to a UB. brewer over a life- 
time, and tire diapers are 
worth another $7,000. • 


Loyalty cards provide a 
wealth of data about a busi- 
ness’s most faithful — and 
often most profitable — cus- 
tomers. U:S. retailer Sears 
mines the data of its 120 
milli on loyalty-card holders 
and groups.tbem into buying - 
pattern clusters that can then 
be targeted with promotions 
and coupons and special 
marketing programs. 

Safeway Stores PLC in 
foe United Kingdom is using 
IBM’s Intelligent Miner to 
increase average sales per 
square foot in its stores. 
Safeway used to carry 28 
different brands of orange 
juice, but was able to identi- 
fy foe eight best-selling 
brands through mining and 
has increased sales as a re- 
sult Managers also wanted 
to reduce some of the 200 
cheese brands they stocked. 
With date mining, they dis- 
covered that some of their 
lowest-selling cheeses were 
purchased by their top- 
spending customers. 

Retailers aren’t the only 
ones who can benefit from 
date mining. Financial ser- 
vices and telecommunica- 
tions companies are using 
these tools as welL Mr. Ku- 
mar cites foe case of a bank 
that learned its check-boun- 
cing customers were among 
its most profitable clients. 

Customer retention is also 


Back in the age of rural life and sepia photographs, the 
owner of the village store knew everything about his cus- 
tomers. He knew how well oft they were and how many 
children they had and when it was time to extend crecfit and 
when ft was time to collect No one considered this prying. 

Today's business-intelligence systems duplicate the 
personal attention ofthe village store but on a mass scale 
that would be impossible without technology. “The in- 
tention is to remain competitive by better serving the 
customer,” says Ben C. Bames of IBM. "If done in proper 
fashion, the customer is a winner.” 

Customers may not necessarily want to be known in this 
way, and politicians are aware of that uneasiness. Laws 
restrict the collection of information and the use that can be 
made of it once it is collected, with wide variations from 
country to country. The United States has relatively few 
restrictions, for example, while Germany and France are 
quite stringent 

A report just released by Ovum, a technology con- 
sultancy, points out that businesses need to implement 
“explicit policies and processes to ensure ... appropriate 
protection fix their customers in the areas of merchan- 
dising practices and customer data privacy.” 

The reasons, says Ovum, are the growing body of new 
legislation that regulates such practices and the inter- 
pretation of easting laws to take account of it 

Eric Woods, an Ovum senior consultant, suggests that 
"Laws haven’t caught up with technology. Legislators don’t 


understand what a knowledge-based society is.” 

This theme is echoed by Herbert Budd of IBM. "Compa- 
nies don’t need to snoop to gather data on their cus- 
tomers," he says. "Lawfully collected demographic in- 
formation has been available commercially for a long 
time.” What is new is the ability to manipulate it and make 
it available not to the neighborhood store owner but to 
someone who is countries, kilometers and cultures away. 
Mr. Bames points out that IBM is involved in developing 
industry guidelines. 

The Organization for Economic Cooperation and De- 
velopment, in a report called "Electronic Commerce: Op- 
portunities and Challenges for Government," states, 
"There are many legitimate purchases — medicines and 
professional services, for example — that consumers may 
prefer to keep confidential. Preserving consumer con- 
fidentiality involves the provision of mechanisms to prevent 
the use of transactiongenerated information in ways that 
were not intended. It also involves ensuring that safe- 
guards on the use of this information cannot be circum- 
vented by the transportation of consumer databases be- 
tween legal jurisdictions.” Georges Feme, head erf the 
Science and Technology Policy Division of the OECD, be- 
lieves that "consumer trust is fundamental” to the de- 
velopment of electronic commerce in all its forms. "Privacy 
protection is an essential component,” he says. 

An initial consensus is that information freely given with 
informed consent does not violate individual privacy. 


the objective of telecoms 
company MCJ, which is us- 
ing date mining to address 
foe problem of chum (cus- 
tomer turnover). MCI can 
detect when a customer is 
about to leave and can ini- 
tiate marketing efforts to re- 
tain them if it wants to. 

An emerg in g use of data 


mmmg is on a company’s 
Web she. IBM has de- 
veloped a tool called Surf- 
Aid that uses data-mining 
techniques to analyze activ- 
ity on a company's site, ft 
tracks Web site visitors, 
identifies what they like and 
provides that information to 
foe business so the site can 


be personalized for eveiy 
customer. 

Every gold rush produces 
fool's gold, and the gold 
found in data mining is no 
exception. Warns IBM’s Mr. 
Budd. “You can wind up 
with some totally useless in- 
formation, like foe possibil- 
ity that people whose names 


have an *e' as foe third letter 
are the least profitable." 
IMD's Mr. Kumar cites the 
feet that 82 percent of mo- 
torcycle owners buy frozen 
fish food. 

Perhaps the greatest dis- 
covery of data mining is that 
human insight remains para- 
mount 


Building a Warehouse of Clean and Useful Information 


B raiding a data ware- 
house is a bear,” says 
Herbert Budd of 
IBM’s Business Intelligence 
Solutions uzrit 

He is referring to foe size 
of the undertaking and the 
computing power needed. A 
warehouse gathers an enor- 
mous amount ofm formation 
about an e n terpri se, from fi- 
nance to marketing to hu- 
man resources to manufac- 
turing, and organizes it to be 
available and useful to a de- 
termined number of end- 
users within the business. 

. This raw date can amount 

to gigabytes and even tera- 
bytes (thousands of giga- 
bytes) of information: Sears, 


the U.S. retailing giant, has 
four terabytes in its ware- 
house. That figure is 
dwarfed by the 75 terabytes 
in foe database of the U.S. 
Department of Energy, cur- 
rently being developed in 
consultation with IBM. 

The- taming of so much 
data was beyond tire capa- 
bility of all but a few power- 
ful computers a decade ago. 
Today foe increasing power 
of chips and the decreasing 
cost of parallel-processing 
systems nave brought ware- 
housing out of the jungle and 
into the spotlight. The once- 

beastly cost has also 
dropped: Storage of a tera- 
byte of data cost $25 million 


10 years ago; within two 
years, it will be $250,000. 

Internationa] Data Corpo- 
ration (I DC), a market re- 
search firm, calculated die 
date- warehousing software 
market at $3.4 billion in 
1996 and expects it to grow 
to $1 22 billion m 2001. 

A date warehouse for a 
large enterprise may take 
three years to build and cost 
$20 million, but its size or 
cost is no guarantee of ef- 
fectiveness. The Meta 
Group, a technology con- 
sultancy, reports that “fully 
half of all data warehouses 
implemented currently pro- 
vide “dirty data* to end users, 
leading to business decisions 


“Business to c-Business Market Intelligence” 
is the third page in a series that addresses the impact of electronic business on various industries. 
It is an IHT/IBM joint initiative sponsored by IBM and produced by 
the IHT Advertising/Supplements Department. 

Writer: Claudia Flisi, based in Monaco. 

Illustrations: Karen Sheckler- Wilson. 

Program Director: Bill Mahder. 

f L nmCRYATHnUMi — — 

Itcralo^^&nbttne i =g = 


based on bad information." 

The needs of those who 
will use foe information 
must be considered Martin 
Ulsley, director of technol- 
ogy vision and research for 
Andersen Consulting 
Europe, insists, “End- 
users must be involved 
early on. IT departments - 
are great at massing data 
together but sometimes 
forget that it needs to be 
used by someone." 

Data cleansing entails 
developing a clean, con- 
sistent, complete set of 
data, notes Eric Woods, a 
senior consultant at 
Ovum, a technology anal- 
ysis group. “It means de- 
fining. for example, ’what is 
a customer’?' or ‘what is a 
profitable account?’ Some 
categories of data are un- 
important to some depart- 
ments bur very important in 
others.” These are not tech- 
nical issues and can take a 
long time to resolve. 

Another reason to involve 
end-uscre early is that the IT 
department may not have all 
the information needed to 
build an effective ware- 


house. Information ■ pur- 
chased from outside sources 
can be integrated into the 
warehouse, but a cost is in- 
volved. Says Andersen's Mr. 
lllsley, “The IT department 




doesn’t have the authority to 
do that; it is up to the end- 
user to show a measurable 

benefit” 

It's often advisable to take 
a phased approach, with the 
introduction of a data mart. 
— essentially a smaller 
warehouse, one limited to a 
single department or subject 
area — while a warehouse is 
being constructed. Data 
marts can be up and running 
relatively quickly and pay 
back right away. They can 
also provide better technical 


performance because they 
make use of discrete por- 
tions of the database. Marts 
should be developed only in 
conjunction with an enter- 
prise warehouse; otherwise, 
foe risk of information 
fragmentation remains. 

Henry Morris, program 
director for data ware- 
housing and applications 
at I DC. observes. “Data 
marts pay back fester than 
data warehouses because 
, they are more focused We 
l calculate a warehouse 
L payback in l .9 1 years, but 
f a mart m just .94 years.” 

These projects "in- 
variably result in even 
more data than was origi- 
nally planned, more users 
than anyone anticipated and 
more complex data-analysis 
activities than anyone ima- 
gined" says Ben C. Bames. 
worldw ide genera! manager 
for IBM's Business Intelli- 
gence Solutions unit. He 
emphasizes the importance 
of scalability and reliability 
in any warehouse architec- 
ture. 

Call it building a bener 
bear trap. 




INTERNATIONAL HERALD TRIBUNE. FRIDAY. NOVEMBER 21, W7 


y : ‘> 7" 



% V. , 


r* 1- 

•ft • **'%* 

* /V- • 


f } .4 

»7 * ^ mr 


•rv/V*' 


IV C/\ 

NOVA 


Success driven by specialty chemicals found, for instance, 
in coatings and printing inks — market launch on January 1, 1998 




• •••• • contensio 

• • • 

Success built on surfactants for detergents and many 
other products - market launch on January 1 . 1998 



' Major global auppWat of 
chemical synthesis end p 


A 

A 




W 


The world's leading producer of superabsorbents, 
a basic building block of products such as diapers - 
successful track record on the market since December 1, 1912 



rm 


h 


i 


The Huls family today extends a warm hello to our new members ! i 

• ! 

On January 1 , 1 998, Huls AG will become a strategic chemical hold- 
ing company, reshaped and focused to become a powerful, agile 

J 

competitor in the global marketplace. Then, seven new operating 
companies will join our five existing subsidiaries. The new structure 
will give us greater flexibility to respiond faster and more efficiently 
to client needs. Our five existing operations have long been top 




'tits 



:-ji| 





The premier producer worldwide of phenol and acetone, raw materials 
that go into products such as CDs - a market force since May 9, 1952 




V - > "'-'A ' 





(Ohm 


Together with its American subsidiary CYRO, Rohm is a global supplier 
of acrylics, marketed in the U.S. under the brand name ACRYUTE 11- . 
A key area of application is vehicle tail lights. ROhm's excellent track 
record on the market dates back to September 6, 1907 


A 


Among the top man 
material used lit 
• market player : 












I ! 

1 


wwmm 


1 

■ 

■ 

Ps 




NU 


‘Tij.ich as olefin derivatives for 
cat launch on January 1, 1998 

t 



INTERNATIONAL HERAZJ) TRIBUNE, FRIDAY, NOVEMBER 21, 1997 



i.r 


*—S t y rem x 

-The new name for polystyrene expertise, an Important 
raw matonal In, for instance, bathroom fixtures - 
. on the market since October 1, 1997 





Sivento 


Major silicone supplier and worldwide market leader in silanes, 
adhesives and sealants - market launch on January 1, 1998 




fell 


O 


I 


suppliers in their fields, and we have the same ambitions for our 
seven newcomers. We know they'll succeed thanks to enhanced 
capabilities, a distinct range of services, successful products and 
an unmistakable focus on the customer. We wish everyone in the 
Huls family - old members and new - a great future. 

Questions? Huls AG, Corporate Communications, Marl,' 
Phone +49 E23G51 49-2795 



7 / . • : 
• * / 
• ... - 


■nils Infracor 

International competitor in sendees and infrastructure, 
with headquarters in Mari - market launch on January 1, 1998 













r 

m - 
■ ' 

CM 


w 

4 



(HEIKIi ESI 


The “nucleus" of innovative ideas and novel business alternatives 
entering the market on January 1, 1998 



i - 


■1 





i/C, a state-of-the-art 
s window frames - 
mber21, 1994 


f*£ .... • " 1 

‘ ’ 7 - 

* ' - - ™. 
V- v > 

& > 7 ?/. s • 

..** .< a' * 

it A ■ • * — 


The No. 2 producer worldwide of silicon wafers, the basic building 
blocks for microprocessors in electronic devices. 

A leader in the silicon wafer industry since January 1, 1959 


Ditcover Tine U*k To life 










PAGE 14 


tmi 2 


i+kfl M THE INTERMARKET 


S +44 171 420 0348 












RESIDENTIAL real estate 


mutt 4 


FRANCE 


auction sale at the chambre des notaires DE PARIS 
Tuesday, December 2, 1997 at 5 putt 

HOUSE IN NEUILLY-SUR-SEINE ( 92 ) 

BoUmrard Victor-Hugo 
end 1_9Mi century for renovation 
275 sqjn, with garden of 450sqjn. 

STARTING PRICE; 4.000.000 FF 

Starting price will not be lowered 


atoBCrunete Notate, 164. me du Faubourg SI Honor* 
r — ,-;-5?' Tet 33 P 1 454H.55.7Q - Martre Baumgartner, 
Legal Agerrt, 4, rue de la Couteflerie. 75180 RAHfS Cdowr 04 
VbteNovefnber25,26,27,1997froni2p.n».to3pJTL 


FRENCH RIVIERA 


AUCTION SALE AT THE CHAMBRE DES NOTAIRES DE PARIS 
Tuesday, December 2, 1997 at 5 pjm. 

IN CANNES (06) 

22 Boulevard de la Croisette 
2 SHOPS (105 and 76 sq.m.) 

* 5 rooms 120 sqjn. with balcony and garden 

STARTING PRICE: 30.000.000FF 

Starting price will not be lowered 

(depod 7300,000 FF by cerfffisd bank cheque to the attention of MaRre CRUNELLE) 
^formation: Martre CRUNELLE, Notare, 164, rue du Faubourg Sart-Honon§, 
75008 PARIS - Tet [33) 1.45.61.55.70 - Mattie BAUMGARTNER, 
Legal Agent 4, me de la Coutelierie, 75180 PARIS CEDEX 04 

Vtowfns: Novembra 29, 1997 tram 11 am. to 12 pjn. and 2pja. 
to aoo pjs. MduponanwtatBMl 



18 rae Jacob - Paris 6 th 

Luxurious apartments under construction. 

A wide range of apartments from 2-room to 4-bedroom duplex 
offering top quality appointments with basement parkings. 
Several apartments with terraces and private gardens. 
Delivery 4th quarter 1998 * 


Olympia France 

1 12 avenue KItter Parts l&fi 

td: 33.1.473530*8 


BETWEEN 


and HOTEL TOWER 


mb Soini-Dcirtntque-nB Jar-Nted 
NEW or ramoMd - tatmedon dohoiy 
From Studio to 6-room apartment 
EXAMPLES: 

• 2/3-roarts 87 sqjn. FF2.3M. 

• 5+Dom 127 sqjn. +■ 25 sqjn 

tenues + botany fF4.SU. 

For appointment 
phase mg SODBU 
Tel +33 (0)1 41 92 22 21 
Fax +33 (0)1 41 9222 57 


Sec Ssfagihy’g I nto 1 ma rket 


far Arts, Friendship*. InlemaiinnaJ 
Meeting Mm, Nannies a Domestics. 
To odvertu* eottiod Sarah VfenboT 
on +44 171 420 0226 
or fax +44 171 420 0338 
A CHEAT DEAL HAPPENS 
AT THE UVTERMARKET 


SWITZERLAND 


For sale near Rib capital 
Be nw/Swflzsrtund outstand ing 

Manor House 


1 8* Century, main bailding with two 
[Mags and 10 rooms la boot 500m 3 1, 
underground swimming pool and 
party roam, andergraandcar parte. 
Guesthouse with 4 appartments 
for staff and geests and 6 garages. 

Surrounded by a beautiful parte 
with aident trees (about 34000m 1 )- 
tn pristine condition. Low tax rates. 


Request nJ Hotter Stotter Dsridofl & Partner. 
Scftwanewgrae 9. 3001 Bam. 

L TatojMme: +-+41*31 312 53 12 


International 
Herald Tribune 
ads work 


HOLIDAYS 


SKI HOLIDAYS ** 


FRANCE 


*** FRENCH ALPS 

Courchevel 1650 * SAVOIE 



HOTEL DU GOLF *★* 

and residences 


Rooms and apartments with balconies, 2 to 8 people. 
Gastronomic restaurant - Bar - Brasserie 
At the bottom of the slopes - Right by ski lifts 
Numerous formulas * Familtes/Chfldren and Groups. 

Tel: -f33 (0)1 44 56 30 30 Fax: +33 (0)1 42 66 12 20 


& 


RE LA IS & CHATEAUX 

HOTEL DES NEIGES “ 

COURCHEVEL 1850 - FRANCE 
One of the best hotels in Courchevel 

TM: + 33 (m 04 79 08 03 77 
Fax: + 33 (0) 04 79 08 18 70 

Internet: httpVAwww.integra.fr/relaischateaux/Neiges 


REIA15& 

CHATEAUX® 


U.S.A. 


SNOWMASS HOME RENTALS 


irvto m 
Ski-in/out 
8 miles to Aspen 
1-970-923-3636 
E-mail: 

8nowmass-hornB-reniate©to8id,coni 


IEGEVE. Luxury furnished Dtqrieix in 
Ctudel MO pers. 2 mil wafting to 
Rocftebruna tetepbartque SW Storage 


Room. 4 bahxmsJMng room and taF 
e* la 


cony. FF7.500 a week la 433(0)6 07 81 
75 43 or +33(0)1 47 01 00 61 


AIRPORT SERVICES 


"n** 1 »«!“<» 

* gbmn 


uwcosLd 


Fcr tattktad or non Irani 

„1W 




Fmc+33(tf)l 49 82 ; 

Msrest &4Mt»ntQM0cJr 


Bed A Breakfasts 


MANHATTAN LODGINGS, NYC. Short 
stay knuy apartnwrts, superior B A B 
registry, many locations. 
Tet 212475-2090 Fat 212-4770420. 
nMjnarMtanbd^ngsxom 


Hotels 


Lebanon 


NOTH. AL BU5TAN, East of Baini 
5 star detoxe. Exceptional locaion. secu- 
rity. cartori. Rne cusiw, aroenflons. 
business services. sfflette TV 18 mil 
iransier from afeport free. UTELL Far 
(981) 4-972439 / 1*33) (0)1-47200007 


USA 


BREATHTAXHG VEW OF NEW YORK, 
20 ft. glass waK Central Park & CBy. 
Luxtrousty (umtshot piano, tax, i " 


oib, Theaters. Weekly, Monthly. 3 day 
weekends (mWmwn) or long term 
Tet 718-548-9388, Fac 71MBM142 


DISCOUNT TRAVEL 



Holiday Rentals 


Caribbean 


ST. BARflHELEHY,' F.WJL OVER 200 
PRIVATE VACATION VLLAS - beach- 
tram to hflsile with pools. 0u( agents 
have inspected d vlas pereonatiy Far 
reservttoos on & Barts, St Mann, An- 
gufe, Barbados, Mustique. In Virgin Is- 
lands... Can WHCO0SBARTH - U.S. 
(401 1849-80 1 2/fax 847-6290. from 
FRANCE 06 SO 18 20 - ENGLAND 0 
-800686318 


Paris A Suburbs 


17th, M0NCEAU PBITH0USE. DEC. 20 
to JAN. 4. 72 sqjn. stpeib views al 
Paris, tenses. Tet *33 {0)1 4622 4016 


International 
Herald Tribune 
ads work 


^ romantic Islands 


Bahama* , faiaifa, Psmum. 

2820 Acres, US-$ 5.1 Million. 
Fax: +49-971-5856 (Germany) 


Real Estate 
for Sale 


Australia 


MW 

Strata i 
win son 


G0U) COAST, (OUSHSLAND) 
i mounail acreage (45.000 sqjn) 
i spang, rata forest, awesome views. 
45 mhrtes (ram Broadbeato. 

GREAT LONG TERM INVESTMENT 
Price AS3AOQ0QQ. Cash or stock ac- 
ceptable. Contact: ++41 Z? 784 3837 
(lax) or 4+41 22 784 1378 (phone) 
E-mat tmnedOphonemrid. com. 


Bahamas 


BAHAMAS-SPECTACULAR Waterfront 
Estates tram SIM. vww.hgcMsda.oom, 
Tet 242622-1041. Fax: 242-328-5642, 
Emat chrisfeObahamasneLbs. 


French Alps 


VAL DISERE, center, 3ram 9a, south, 
' place, balcony, outstendna view. 
Fl ill Fax ' 


French Provinces 


PROVENCE - LUBER0N 
LUXURY STONE COUNTRY HOUSE 
350 sqm. • Eteaitiiiy renovdad, 
central heating, taiga, surety living, 
terraces onto gardm, 6 bottoms, 

3 ban-rooms, stun tor caretaker, paDo, 
pool housa. 16 x 8M pooL on 1 acre 
tantecteted gattienOutot but not taataMd. 
Breathtaking new or medeval vitage. 

Perfect condM on . dose gof onuses. 
33 bn Avfcnxi. 45 rrtn Marsala aiipon 
Contact rwnar Fax +33 (0)4 90 72 48 00 


IENBSES L1IBER0N 
Unbua Potion. Historical de, TOO sqm 
taring space. Ptnsfcfly to butt extra 70 
sqm Landscaped garden Pod. 

For (teals (toe owner +33(0)442263214. 


PBHG0RD LUXURY MANOR HOUSE 
875 sqm. - 14 rooms - sc^ptetfatone 
window & taptace, modem oonstmefon 
& comlorts, high ctass ~" 
condBon. PooL ariatl 
view. Nothing orangte- IHh 4 ta t 
IB In forest aBaratnL USil 500,000. 
Fax traner 33 53 40 63 92 


SOUTH EAST - DflOIE Spiendd prop- 
artesavalabtelorsaleinbeaiMoou)- 
riysBe of Drama. Ask lor docunartakxi 
FOR SALE' StpadJ 190 sqjn. drotax + 
torace vrtJi panoramic view wer Rtnne 
rivet, celar + 2 garages ntiudad. 
Tet/Fac +33 (0)4 75 08 32 95 


20 MINUTES FROM GENEVA, on La 
Satan. Beautih* renovated 14ffi cariu- 
ly tamhousa. 700 sqm d tertng space 
in nett style. 4 bednxxns. 3 beds, cel- 
lar. hugh (fining & hmg rooms. 2 ha. 
land wOi spaciaattr views ol ML Bbnc. 
FFr. 3500500 Tet 41 55 410 7356. 


GENEVA AREA (FRANCE), 10 min Ge- 


neva downtown, 20 ntt to airport Umry 


■tone bu* house, 500 sqm., 
rooms win enstie bade, pod. 
land 55500 sq.m. S1.7M. Owner 
+33(^450952787 Tel +33IQ4509527B9 


LANGUEDOC, chamung I98h cert, man- 
sion on 44500 sqm jarit. pod sables, 
pnv&dgad situation FF1 ,850,000. 
Tel/Fax owner +33 (pH 68 60 87 84 


PROVENCE- Al kinds d properties 
Haase ask lor Mis Wanner. Agenca 
Auquier, F-B4210 SI Dkfar. Tel' +33 
f0]490B6O7 53 FaxI0)4 90 66 12 35 


PROVBiCE - ALPflJLES - LUBER0N 
Free brachife LE TUC IMMO 
38-18 LE TUC. hoptfwwwt 
Tfll- +33 (0)4 90 II 84 B4.' 


French Riviera 

CAHNB. 

superb propady on httft w» 

1 pamani; sea view. Grom* 

12JOO sqjn. taring space 

500 sqjn(nng&-dnng room, 
sttra roonv equipped BWw, 
outdoor tteban + batten*) 

5 bedrooms, 5 batis, housetoepols let 

Pool, tennis coni possUe. FF26M 

Knot owner, Fa +377-93 15 09 01 

Italy 

POflTOFWA (Ganova). Uniqt* property 
ftr safe ovaribdsng the bfl ol ranha 

Over 400 sq.m, vfla on three tarels 
sfcfi e omdy tetog rastruosd by Ar- 
chfed Vttti writ! ZOjOOO sqm. of let- 
raced property readitag down » toa sea. 

Cal Im Abate Esq. at 3S 2 63381 or 
18x33 2 863305 

Jamaica 

JAMAICA, 2-STORY HOUSE, 3 bed- 
rooms, 2 baths, 2 reception rooms, (fin- 
ing room etc. Beaulfuf hal acre over- 
looking Montego Bay Price £135,000. 

For (Hate contact Victor Srtitey Tet 
+676 952 2730 Fte +67G 952 3588. 

London 

HOHESEARCH LONDON Lai us 
search tor you. We fod homes / flats 

K> buy and rant and provide corporate 
relocation services For tmflvWuals 
and companies. Tel: +44 171 838 

1066 Fax + 44 171 B38 1077 
KteJIwireTiomeseenjUDxMhDm 

Paris and Suburbs 

8th, ROND POINT 
des CHAMPS ELYSEES 

19th can tivttng, 
about 174 sqm., 3 bedrooms. 

CHARM. SUN. 

16lh, FOCH, SUNNY 

«gh ctaS3 220 sqm. 2/3 bedrooms, 
double garage, matte mom. 

FEAU 

VICTOR HUGO (0)1 45 53 25 25 

PARIS - AVENUE FOCH 

M HIGH CUSS BULDMG& 

‘ 30 sqm durfio 

1 12D sqm, 5th Door 
■ 25 aqnL : 4 Mum 

1 250 syn gwden tawtt (filter 
ta perfect oondlton 
* 450 aqm. ganfen towi duplex 
*640 sqjn. ameptfcnal 

4th Boor apartmert 

TJUAN UMOBUER 
((91 53 308320 

BLD DE MONTMORENCY 

Prestigious flat : 7 roams. 3fia sqm, 
tetooro 1 terrace. 6tii Itoor, excepilonaJ 
view, parking and stall room. 

Tet +33 (0}1 40 06 94 30 

4th. MARAIS. Owner. 17th cent sunny 
ftaL 115 sqjn , Dupteix, 2 tKdrooms(1 
mezzantna), 2 baths, 2 WC. taring Ver- 
sa* paquet wood pamttig, (fee place, 

Mgh ceing, bears. Open Idttien, tfintog 
room FF25904 Tei +33(0)142783187 

DEAL *PEM-TERRE* in the nriddte d 

St Gernttr des Pres, targe studio 1*1 
floor, 65 sqm Cttn 16th cariuy brttt- 
tag. oonaerga, 2 rala ham Bud Market 

8 toe Louvre. Tet +33 (OH 4326 7440 

4th, IE SAINT LOUIS, 2 ram. Ctiarav 
tag ptahatere. qukt lifftece, beams S 
stones, living i betiraom & ttchen. 
shw. Own*. FFBOftflOtt Tet +33 fffll 
4(767603 (afternoon) or (0)1 45854082. 

16*. ELEGANT 195 SQJL ET01LE) 

Vidor Hugo, dass butting, 5 rooms. 

View. FFrifiML Tet *33 (0)1 4338 4054. 

BUY OR RENT high class apartments. 

Tefl me whal you wart. 1 wM do Hie 
research for Tei- +33 (0)1 39657898 


SPECTACULAR views from 3 betaries. 
luly turnishod 2-Pe*oom penthousa In 
Les Hales. F15U Tet +33 (0)140139973 


ETDCLE-AVE FOCH rih 240 sqjn. ter- 
race and balcmy, 245 sqm. comer 
apartment, taring, (bring, 2 bedrooms, 
tUy, Gareirig nn 7Bi Sow, Ointend- 
M now. sunny. FFE2M. OWNER Fax 
#1 40 20 61 06 Td (0)1 40 12 17 01 


housa 


fttoal fur main A I 
9-man rattan +l»h t 
vlage to fool. Stain I 
ntt condttjn, ataequftvsd, 4 bedrooms, 
3 fireplaces, V2 acre, nr GchooVstnps 
Quid: eta K00500. +33 (Dll 34863612 


Switzerland 


Paris Area Furnished 


& 




Q 




BS 


kted acoomnxtation: sM*o5^®* ooms 


Ouaty and savtt gaffed 


□ 


LAKEGBEKA6ALPS 

Satetotoregoere autoonzad 
■■■■■■ tinea 1975 


our 


news 


Attractive prooofes. ( 

1 to 5 bednss, torn SFr ! 

HFV AC SA 

52, UonOirM CH-1211 GBEVA 2 
Tel 4122-734 15 40 Fax 734 12 20 


GSTAAD - Ro a gamart 
: Mountain Aparimerts 
i to nougemonUGstead 
Phase oontact CFRHOBUERE 
COTPAGNE F0NCB1E SA. 
Tel+4126 925 9273 Fax +41 26 925 9275 
E-mat dhvoottlertibiuettacti 


USA Residential 


NYC 


MAJOR N.Y. HE FIRM HAS 

PRUE CONDOS. RBBfcfrtteHnuestnBrt 
to NYC. Call Ms. Sym to London 
Nn 22-30, *171 836 EWJ. After, NYC, 
212691-7012 Fail 212691-7721. 
Santa Syms 


DOUGLAS ELUMAN 


PaWUaSson, 60s 


3 Rooms 


Perfect liffie NY Apaband 

In Ideal locdton 600 si 1 Bed more/ 
1 balh ttdi 105* ceitogs, Modburrring 
fktettace. CJaishg hkteaway avaflaMe 
lunrished or unrumtalwd. Security 
systemnre in Sver- 8165C 
Am Lind 2126504818 


DOUGLAS ELUMAN 


FORT LAUDERDALE^ FLORIDA 
EXCLUSIVE WATERFRONT ESTATE 
till 700+ teal d water frortege. 100 loot 
yadtts accomwxtated, home has al toe 
amenities. Just reduced lo 
USS6, 099,000. Cal Mary Bucd, agent 
RE/MAX Patters 9546966977 USA or 
E-raat irtwodblheneLnet 


IIAM BEACH6EST LOCATION 
DflECT OCEAN-TOP DECORATION 
-Bficlency_634s{-.135K 
-2 Beds/2+1/L.170Osf. 360K 
6 Beda8+1i2-2454si. j 495K 
Tet (305)53461 (BFac 5346108 


HEAR KEY WEST, FL Onai front 
estate has rare prWega d omtag tfi 
lotutef private sandy beachttta cocomi 
palms. A fti^e penfru wti 82 x 20 ft. 
pod tijy. htt M toww fa rtaojoiff 
iebpa: Tet: 305296-1907 USA 


Real Estate 
for Rent 


Holland 


HENTHOUSE INTERNATIONAL 
No 1 hHotand 

tor (samQ fnntahed houswnak. 
Tet 31-206448751 Fax: 31-2D646G909 
NTxjven 18-21, 1063 Am Amsterdam 


HOMEFINDERS MIL Herengracd 141 
1015 BH Amtaantam Tel +31306392252 
Far 6392262 E-nnLmnaetoctGlbJl 


London 


OELSEA NEAR HAIffiOOS, 
furnished. 2-doobfa bedroom 
£400 per week long term. 
Tat +44 (0)171 589 


rwdy 


ra dsmicijsm' rarm’® 13 ® 1 ® 




• <1 *,f. 


Embassy Service 

YOUR REAL ESTATE 
AGENT IN PARIS 
Tet +33 (D)1 47.2d30.05 


CAF1TALE ' TWTTNSTS 


ad sizes Pans and sdute. 
Td +33 (0)1 42 58 35 » 
42 68 £ 61 
llii help jot bast! 


16th VTCTOfl HUGO, modem butfng. 
perfect coreffion, large dubbie iwnto. 2 
bedrooms. boAutful equ toped Uctron. 
FF15J000 ML Tet +330)147644144 


3rd, MARAIS, uvqua view, charm, ttt- 
cony, 3MOOm apartmert video security, 
garana Par weak or 2 weeks. Ji^rSAii- 
gusl Tet +33 (t^l 42 77 45 43 mes 


CHAMPS RYSEES ■ HIGH CLASS - 
Exceptional apartmert and business use 
50 sqm rift foamy on Chan|B Hysees 
Ctt now: +33 (0)1 4432 0313. Fax 0319 


Paris Area Unfurnished 


PARIS, qwrar rente charming 2-room 
R8, between Porte Maid and Perefre, 
60 sqjfL, 9th fioor, equfped ttchen, 
balcony, parking, celar. beautiful view, 
FF 7700 charges toduded. Cafl after 
BDOpm + 33 Ml 47471662 or 46371515 


ist-ST KONORE, Ideal pied a teme, 
HIGH CLASS: 2-lOOm Hid, FF7.000 + 
chargee. One large duplex FF14.000 + 
chanjas. Tet owner (Q1 40 41 98 53 


7th. RUE C0GMAC6AY, 1S3D txddng. 
240 sqm, 3rd floor, sqxib reception, 
4 batons. FF26fl00 inCbtfi 
Trt Bel Gxxjp bfl +33 (0)1 


Switzerland 


GENEVA, LUXURY FURNISHED apari- 
merts. Rom studbs to 4 bertwxns Tet 
+41 22 735 6320 Fax +41 22 736 2671 


USA 


NYC FURNISHED APARTMENTS. 1 
week to 1 year. Great Locations. Cafl 
: 212-448-9223, Fac 212 - 
i E-Mai affamgtwOaaiaam. 




CHRISTMAS PARIS, 75002. Great tiu- 
ptei, Pgm. vast Sving, fireplace, 2 bed- 
rooms, 2 baths, modem kitchen, 22 
Dec-2 Jan, FF10K. Fax +33(0)142961881 


NEAR PANTHEON, tabafo 2-bedroom 
KaL beans, pnvaie garden. 2 badmxns. 

SaOtfmom. Tet +B (0)1 43 31 64 03. 


PARS 7th, Boiriemrd DES MVAUDES 
- Stpeib Rat, Haussmann buMng - 
Charm, cafrn, 160 sqm Ready to move 
in Fbfflw tenant was a US dptwnal. 
Parquets. Drepiacas, Mi ceings. Dou- 
He Bring, big equipped ttchen, 3 lags 
bedrooms.^ riatorooms, tett-n dosets. 
cellar, separate matt’s room. Lovely 
shopptog area, metro, bus stop a tow 
du. FPZQflQO pw morth plus chages. 
Tet Ovmar +33 (0)1 40 61 92 11. 


TWt, near PARK MQHCEAU, 50v ten. 
Mgh ctass hsastane bdkflng. 190 sqm 
4bedoonW4bfflha,2WCs-F20fl00nfl 
Tet wi 46 22 68 97 & 06 113Z7474 


£ ► 


GENERAL 


Personals 


HAY THE SACRED HEART OF JESUS 
b? adored, gbnfied. loved and presented 
Uxoughout trie wortt. now and forever 
Sacred Heart ol Jesus, pray tor us. Sant 
Jude, worker at nttades. prey lor us. 
Sari Jude, helper d toe hopeless, pray 
torus Amen. Say tits prayer rev ranes 
a day. by toe rtrdh day. your prayer wi 
be answered B has never been hw» 
lofai Potkanon must be promised UK 


Friendships 


BRITISH AIR HOSTESS n 
settong weaBtnr busttessman tor tun 
limes. Antea. VOce Mai 9537 2456 


imiUDES WISH TO MEET YOU l 
alsxsiamgasianeLco Ih - PO Bax 3 
BANG Or 10704 BANGKOK THAAAND 


DINING OUT 


JIMSTBBMM 

PAKtStHh 

HAESJE CLAES 

RaatDuvhCsLna Op+n tram k«h urtl 
nudngh 275 

Tel 624 W Co CaianB+gnimLnuiiwI+ri 

AS muct mil cath 

CHEZ GANDHI 

fafMimiadad far fcp gaAnaaaiw. 

GcMwcf teaMw S Mnaiwhtt' 

Ur andUomd AT, rue Doapfane. 

101 44 0708U -01 43 KD139. 

DEVUEGENDESCHOTEL 

Wf 1 — - I 1 l 

"V*®™ uuwv 
OpwdaayMLjo-iuo 

Kfrcfawn opwn T7J0 - 22U 

NBJWEiaSSIUAn &2 

RuMmtioni: 020-6252041. 


PAUS9IH 

TY-COZ 

Ml MttBdL SwiinnH Evuinawmi 
lTOff . OoMd Sunday A Mawday wante 

38 rto GweraHi Air Candhtaamd 
1SL01JO&42JSA34^]. 

NEUUr 

Th* Amaricort Btafaw 1 

Henw Thonksgmna I 

Gn^Food cndCcidclak 

FunPaopfe— 

fcBU Montmartre tefa 01 47702720 

+ r (FOCLYi Jhl 

ds> &ssSi ^ I 

TTwaTteottb, raayLici^fljq 

a 71 , or. SiAa Perk 7Si. I0lA7J3J7.il 

PJkUS&h 

LEBOBOQUET 

Anactemriixtaei IW 
wW ton tin u+Uwl jrixonw 
Jtllwlwartrf5(«nH7wiwAhJttFrt« 
ArdtanerarattluL 
CqoujugiiiiirauBCo reannMaartH. 
13, ra SdMtamA t CT 414A4LM 

VBUNA 


You ecu wwplii»^yi favjJiLiyitHffi 
jifaiij— jgflwiwg rtftiftNgpw 

• 


Announcements 


HcraU LofeJ Eribnpc 


SUBSCRIBER CUSTOMER SERVICE: 
Farassiionsarquerlesaboutthedefiv- 
ery a your newsproer. toe stems d your’ 

siasa^aralmordsrfiigaHtinxto- 
bo n. pim se cal toe totowtog nuabers: 
EUROPE, MDOLE EAST AM) AFRICA: 
TOLL FREE - Austria 0660 8120 Bel- 

S ' 17538 France 0600 437437 
5130 348585 Greece 00800 
laly 167 780040 Lurantam 
0605 2703 Netoettartii 0600 022 5158 
Sweden (SO 797039 Swftzertand 0800 
555757 UK 0800 895965 Bsawttera 
1+33) 1 41439361 THE AMERICAS: 
USA RoHree) 1-8006822884 Elsewhere 
(+1) 212 7523890 ASIA: Hong Kong 
2922 1171 Indonesia B09 1928 Japan 
(tea-free) 0120 464 027 
Korea 3672 0044 Malaysia 221 7055 
Pffipptaas 395 4946 Singapore 325 
0835 Tatwan 7753456 Tftafland 277 
4485 Etaswhere (+852) 29221171 


Uoving 


ARTHUR PfEBRE 


THE PROFESSIONAL HOVERS 

For aU your 

international moving needs 


Parti +33 1 34 75 32 82 
Lyon +33 4 72 39 99 19 
Streabowg +33 3 88 Q 10 00 


THANKSGIVING 


Cddnite tbe hugest Amndam 
1w iff4« y In Hw fff tin 

AMHRKVff TWRAil. 


Come with UDy <x Cdendi 
for i cooqdete (Smitf 
with ill dn 'fizhu*. 
(AdnUs ’2O0P • Children - IMF) 


-Reserve now- 


Amebkan Dream Cafe 
21 r rueDaunou 
75002 Paris 

TEL- +33 (0)1 42 60 99 89 


Auto Rentals 


RBTT AUTO DERG) FRANCE: Wedend 
FROO. 7 days FF1500. Td- Paris +33 
(0)1 4368 5555. Fax (0)1 43S3 9529. 


Health/Medical Services 


AROaUTHERACT-SWSHSH MASSAGE 
avalabla dffitofght al your hutei/homa 
Cal 7348918, ORtoatd Road, Sttgaporo 


Legal Services 


DIVORCE 1-DAY CERTIFIED 
Cal or Fax (714) 9688695 Write 16787 
Bead) Bfvd. *137. Hurthdon Bex*. CA 
92648 USA- n+nal - waotmGJunuom 


DIVORCE M 1 DAY. No traveL Wrtrt 
Box 3 n, Sudbury. UA 01776 USA. Tet 
97*4438387, Fac 97874430183. 


Business Opportunities 


OFFSHORE BANKS 
COMPARES & TRUSTS 
MHGRAT10N/PASSP0RTS 


Aston 

Aston House, 

Teb +44 
Fac +44 1624 62S126 



Trustees 

tab of Man 


London 

Tet +44 ffl) 171 233 1302 
Fte +44 tm 171 233 1519 


E M: astondentenrisuiet 

wwwjotefrtomjtamanjMj* 


NVESTIETTM SWISS REAL ESTATE 
NEW LEGAL OPPORTUNITIES FOR 
FORBGN INVESTORS. Forftwnews- 
taav and brochure, coreaa Soctate mre 
de Gasnca to Genoa. Swrizertand. Tet 
+41 22 849 6S50. Fax +41 22 849 6104 


OFFSHORE COMPARES, ft* tree fro- 
due or advice Tel: London 44 181 741 
1224 Fax: 44 181 748 6B58IB338 
wNUHadafLcodc 


-told PASSPORT SID K. Also Eli. Djplfr 
nttt. Driver's Ucensa E+thI 
cqittGinuctph Fax: 6348317562 


TELECOMMUNICATIONS 


New Lower 
International 
Rates! 


Tp the U.S. from 


Belgium......... 310 

France 270 

Netherlands..' 230 
Switzerland... 27C 
UK 170 


- NO Set Up Fees 

• NO Minimums 
■NO Deposit 

• Instant Activation 

• Sbc-Second Billing 
■AT&T Quality 

• 24-hour MuitHinguaJ 
. Customer Service 

rttmOrighm! 


kallback 


Tel: 1506.599.1991 
Fax: 1.206.599.1981 

Email: lnfo6kallbacfc.com 

www.kaiiback.com 
417 Second Avarua West 
Seattle, WA 98118 USA 


Business Travel 


IdAurinna Ctass Fretuatl DarekB 
Worittaride. Up to 50% m No cormns, 
no restrictions, to^ertal Canada Tel: 
1-514-341-7227 Far 1-514-341-7998 
wtaA address: bnpetialfflogiruiei 

rttpJwwwjr^a u re tfm ipettai 


Capital Available 


LOAN 

FDR ALL BUSHESS PROJECTS 
VIACRBUT BANKING LID 
INFO: FAX +30.1/32 43 527 


Financial Services 


FUNDING PROBLEMS? 


tor 

SOLUTIONS 

Contact 


BANCOR 

OF ASIA 


i to secure funding 
’ viafafs prajsas: 


VENTURE CAPITAL 
EQUITY LOANS 
REAL ESTATE 


Long term cdfflerat 
Siflxiftad Guarartees 


Fas 51092B4 
Teh (BE) 8S48368 


[ConmesKn earned orty upon Rnflng) 
faohen Commkaion Assued 


PRUE BANK 


GUARANTEES 

Vflrtum CapW Finance Awafefe 
tor Goremmet* Prajeds and 
Govemmanl Ganitartes 
Cal are tor sale. 

Laige Projects ou- Specfofiqf 
Aha, Long Term Ftoanos tor 
Lage and Sfltel Con 
Ho commission UrtJ i 


KPRESENTATTVE 
Hoflded to act as Uateon 
Pteese reply to Engflsh 


VENTURE CAPITAL CONSULTANTS 
hnNtmtbMfors 
16311 Vorttawa Blvd, Sub 999 
Endno, CaBonria 91436 USA, 
Fax Hoj (818) 905-1688 
TaU (818)7890422 
Hotortt Sr. Assoc. Deb ad Ldystaa 


Business Services 


YOUR OFHCE IN LONDON 
Bond Stmt - Msi. Phone. Fax. Tatar 
Tit 44 171 290 5000 Fte 171 «9 7517 


Eirytoyment 


Genera/ Positions Wanted 


AMERKAN FACILITY MAINTENANCE 
ENGINEER seeks iwiqiie position to 
mid crttsfhaatai wgartzaton, or racre- 
arional or rasUanttal property caretaker. 
18 years axperenoe All areas consid- 
ered. Fte 0049 / 0622 461620. E+oei 
wSfcnyjJwi»4kxHtt La i ta odre.idu 


Educational Positions Amiable 


MARXEIIG MANAGER - EDUCATION 




dean Uobetey bared In Lcndon 
gas Mate fagM^g to Hgwia 
ateartatog and statenl recnd'iMii 
tto rtsft rien ttk xtt twporaMfca. 

Sand CV ta Bm 465, IHT. 

83 Long Acre, Lcndon WC2E 3JH 


Next Special 
Heading 


REAL ESTATE 
IN AND AROUND 
PARIS 

ON NOVEMBER 28 

For mom details 
please contact: 

INTERNATIONAL 
HERALD TRIBUNE 

in Paris 

Tel: +33(0)141 43 93 85 
Fax: +33(0)141439370 
E-mail dassifiedOiht.com 


THEWPgUPSnugKEWSIVtfflB 


PLANNING TO RUN A CIAS$IHEn aim 



&&VSSK 


GBMANY, MISP8A A CNMLHJROK 

lS^iS'9712500 

RscpSl 971250-20: 

BaGUM A CTXMOWG forata,, 

jwBar 

301/5853 357. 

FMAUfc Htehtt. 

3589508 M. 

Foe 356 9646506. 


SWNMbM, 
4572858 
fac 4585074 







NOWH AMBUCA 

NEWYtMt 


■RSSBta- 


• ScMaom 




1.20:5881374. 

NOWWCSWtDflN AOeWAIK ; 


Foe J}“ 913072 


fac (212)75 

AStA/PACffTC 

HONGKONG; 

(852) 2922-1188 
bloc 51170 H1HX. 
fac (8521 2922.119a 
SMGWQRt 
TaL 223 6478 
fac (65) 224 15 65 
ttwc 28749. Bff SK 




(■ 


■i: 







v. 



INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 



This Cluisiuus , Buy 


310 


Gilts 


Tor The Frice lH One Xntl Well Give You 


jH 


— 



Years Of History 







. Rrigy Fof® cafit | IT 

rorEO^^, lJJIo crowded stores or traffic 
|||m% no wrapping or mail- 
^ ^g, : ^|^^fft that will be 
jjgj pvalueiSlpnd enjoyed, day 




\Que«P^®rX- 

%'S 


t — 


ns&ss 


rafter ddy, week after week, 
SS \ month after month. 

^SufiRg- » . T j*^ : 

|ig| \ ^^a^Ghristmas, give a 
jjjp i gift subscription to the .•; 
— — . -faS 1 International Herald 

Cautions Asa | m., 

1 Tribune to anyone you 

n • __ l l _i _• _ j 


And for each gift subscrip- 
tion you give of 3 or 6 days 
per week YOU will receive a 
FREE COPY of The Front 
Page 1887ip97. 


- . ■ -Xi 

*"L* ■-*<•1 




THE FRONT PAGE 

1887 - 

1997 f| 



This 0R. cert Beale nullles 

toa8<tarpw«w*- 12mmdtt^t8idDatol1*bttmM]QniJ Herald Tiflwsc 
BodMstafrwE 

Mr /Ml otBi&amm 



. i 

■ — i>r < 

-mm ir= 


'• 


M <§ 

«&■ 


Special Daily Features! 

Monday : Monday Sports. 

Tuesday : Style with Suzy Menkes. 
Wednesday : Stage/Entertainment. 
Thursday : Health/Science. 

Friday : Leisure. 

Saturday : Art with Souren Melikian/ 
The Money Report. 


* Jf^eiving a cosmopoli- 
t Man,' comprehensive and 



« v concise newspaper 
S i throughout 1998. 

H 1 Handsome gift certifi- 
ZJ cates announcing your 
pfe gift will be sent to you 
iJ for you to mail or to 
give in person. 

Do they have a particular ^ 
interest? To make your 
both affordable aM thofilB 


both affordable all j t 
ful, you can give|te| 
tion of eitfter 1 

.A*’i ./. 

/■ . >r- 


The Front Page 

/s a fascinating archive. 150 reprinted 
front pages, in a hardcover 27 v 37 cm 
book, it shows how Uie trading lights and 
landmark e\ents of the past 1 10 years 
made headline news in the world's first and 
only' international daily newspaper. 


- - , < ■* * 
"4- 




1 per wit 

2 per wk 

3 per wit 

6 per wk 

1200 

2400 

3300 

6,000 

2870 

5700 

7700 

14.000 

710 

1400 

1900 

3.400 

450 

950 

1300 

2.400 

400 

800 

1070 

1.950 

140 

280 

390 

700 

44 

90 

115 

210 

18.000 

37.000 

50.000 

90.000 

45 

93 

125 

230 

105.000 

210.000 

280.000 

510,000 

160 

300 

440 

790 

710 

1400 

1900 

3.500 

10.600 

21,200 

28.000 

51.000 

10.000 

21.000 

30.000 

55.000 

680 

1360 

1900 

3.500 

125 

250 

340 

610 


Currpm’j 

\uslrla 

Bclgium/Lux 

Denmark 

Kin land 

France 

derm any 

Grcnl Britain 

Greece 

hvland 

Maty 

Nctherlnnd 

Norway 

Portugal 

Spain 

Sweden 

Swil/erlaiid 


Please send the gift certificate Ur. 

im'l i he recipient G 

This oner is available to recipients in Europe 

unly. who are new subscribers. 

Return vour completed coupon: 

Fold this page according to the instructions printed 
mail using the ftrejr*™ 
Ulernaiively fax the coupon to: (+33) 1 -11 43 92 


Yes, I would like to give a 

will receive a FREE copy ofSj^jfe 

give. DMon. □Tues. 

CD My check Is enclosed (payable to fHT) ^ 

CD Please Charge my; 

Q Amex □ Diners R Visa 
□ Access D Mastercard □ Eurocard 
Credit cards will be charged In French 
Francs at current exchange rates. 

Card No.: 

Exp. Date: 

Signature: 

For business orders indicate your VAT No. 

(IHT VAT Number FR747320021 1 26) 



THE WORLD'S DAILY NEWSPAPER 


Jgi|ubscription to the IHT. If I order for 3 or 6 days per week I 
tPage 1887-1997. 1 have ticked the 1,2.3 or 6 days I want to 
pl^UFri. □ Sat. 21 - 11-97 

LJ Please invoice me: 

My Details 

My IHT Subscription No. (if applicable): SPA 

MrTMrsyMs. Family Name: 

First Name: 

Job Title: 

Mailing Address: _ 

Postal Code: City: 

Country: — — 

Home Tel. No.: _ __ 

E-mail address: 

Please send my' gift- subscription to: 

MrMrsJMs. Family Name: 

First Name: : 

Job Title: — — _ . 

Mailing Address: . 

Postal Code: City: 

Country: 

Home Tel. No.: „ 

E-mail address: . 


Please start the subscription on: 


CMAS 


Belgium: 0800 17538 
France: 0800 437437 


For more information call the following numbers or e-mail us at subs@iht.com 

Germany: 0130 848585 Luxembourg: 0800 2703 Sweden: 020 797039 

Italy: 167 780040 Netherlands: 06 02251 58 Switzerland: 0800 555757 


United Kingdom: 0800 895965 
Other Countries: (+33) 1 41 43 93 61 









f 


BUSINESS/FINANCE 


FRIDAY, NOVEMBER 21, 1997 


PAGE 15 


Doubts on Market Rules Hit Malaysian Stocks 


By Thomas Fuller 

International Herald Tribune 


KUALA LUMPUR — Fearing fur- 
ther shuffles of corporate assets in- 
vestors frantically sold off cash-rich 
companies on the Kuala Lumper 
exchange Thursday, pushing Malaysia’s 
main stock index down 1 1 percent. 

Led by tumbling blue chips, the mar- 
ket plummeted to a six-yearfow, cl osing 
down 66.87 points at 536.62. The 
Malaysian currency fell to an all-time 
low, as the dollar rose to 3_520 ringgit 
from 3.485 ringgif Wednesday. 

Ana lysts said tire declines had been 
i spurred by fears that companies with 
healthy cash flows could be tapped to 
bail out indebted ones. 

'Tf you have cash, whether you have 
known political connections or not, the 
market t hink s you're at risk,” said Si- 
mon Maughan, bead of research at WJL 
Carr (Malaysia) Sdn. in Koala Lumpur. 

The head of a Kuala Lumpur asset- 
management company who asked not to 

be identified was more blunt: “This 

shows you the total lack of confidence in 

the regu l ation of the financial markets 


The country's largest construction 
company, United Engineers Malaysia 
Bhd., transferred nearly $700 million 
this week to its debt-laden parent, Ren- 
ong Bhd, in a controversial stock deal 
that many analysts said amo un ted to a 
bailout of influential investors. Minority 
investors of both companies were left 
with shares that have once J 


votving 722.9 million shares — has led 
analysts as well as the political oppo- 
sition to question whether it could have 
been done on the open market, as the 
companies have said it was. 

To complete such a transaction, ac- 
cording to a report by Nikko Research 
ri Sings 


till be able to do with their m oney what 
• ^ they want to do.” 


by 42 percent in the case of Renting and 
54 percent for United Engineers. 

Lim Kit Siang, leader of die political 
opposition, said Thursday that the deal 
between die two government-linked 
companies was a “national 'catastro- 
phe” that had shattered investor con- 
fidence in the market. 

“We cannot blame George Soros for 
this latest stock-market cram,” he said, 
referring to the American investor and 
currency speculator who has . been as- 
sailed by die Malaysian madia and polit- 
ical leadership in recent months. 

Deputy Prime Minister Anwar 
Ibrahxmsaid Thursday that he had re- 
quested a report from regulators on the 
deal between Renong and United En- 
gineers. “If there is any basis of com- 
plaints or allegations of impropriety or 
lack of disclosure,” he said, “I would 
certainty take it up.” 

The sheer volume of die deal — in- 


Cemer Pte. in 
nears would have 


United 

ID 


it was the only buyer. ‘This is 
unlikely,” the report said. 
Analysts also questioned why reg- 
ulators had granted United Engm ee r s a 
waiver of the rule that would have re- 
quired it to extend a general offer to 
minority shareholders. Under stock- 
market guidelines, a waiver is granted 
only if it is in die “national interest- ” 
But investors have voted with their 
feet, d umping Renong and United En- 
gineers shares. Renong fell 0.21 ringgit 
Thursday to 1.69, wh3e United Engi- 
neers dropped 0.46 to 2-90. 

“The whole deal has obviously been 
against national interest because of what 
it’s done to investor confidence,” the 
Kuala Lumpur assets manager said. 

Other companies affected by the sell- 
off Thursday included Telekom Malaysia 
BhtL, the privatized national tetecommu- 
nications provider, which fell 1.50 ringgit 


m 6.95, MNI Holdings Bhd.. an insurance 
company, which dropped 1.02 to 3.00, 
and Resorts World, a gaming enterprise, 
which fell 0.72 to4.10. 

“Any company that had a lot of Cash 
in it — and which owed -its success in 
some way to die government through a 
license or whatever — was under siege,” 
an analyst in Kuala Lnmpor said. 

Market sources said another reason 
for the phmge was an announcement by 
Mr. Anwar, who is also finance minister, 
that the government had decided to take 
over the implementation of the $4_5 bit- 
lion Bakun hydroelectric dam project. 

Even though the plan was recently 
deferred as part of an effort to improve 
the country's current-account balance, 
Mr. Anwar said a diversion tunned for the 
dam, for which construction was already 
under way, needed to be completed for 
“safety and environmental reasons.” 

The deputy prime mm i ff r r said Kuala 

whiclThad been the principal developer 
of the dam and is heavily in debt, for 
work already done, but that tire move did 
not amount to a bailout of tire company. 

“Whatever is incurred by the com- 
pany outside the Bakun project has vir- 
tually notiling to do with the govern- 
ment,” Mr. Anwar said. 



Imnwanail HmUlnbow 


Mr. Anwar, who asked for a report on the Renong-United Engineers deal. 


Vilvoorde 
Expects 
Little of EU 

Mayor Ibices Doubt 
Jobs Summit Will Help 

By Barry James 

Imemational Herald Tribune 

BRUSSELS — After experiencing 
the closure of the Renault car factory in 
his town this year, the mayor of Vil- 
voorde, Willy Cortois, has few illu- 
sions that the European summit meet- 
ing on employment will produce much 
in the way of jobs. 

“I don't think they will reach any 
results, beyond a few general prin- 
ciples,” Mr. Cortois stud in an in- 
terview. “In Europe, competition be^ 
tween countries, between north and 
south, is still the reality.” .. . '"'i v 

He said the differences between, na- 
tional laws and social systems in 
Europe were so great that he could not 
imag ine bow the conference could 
achieve concrete results. 

On the other hand, Mr. Cortois said 
that it might counter the negative im- 
age that many people have fonned of 
Europe as aresuJt of austerity measures 
aimed at creating a single currency. 

Renault shot down its Belgian man- 

north of Brussdkvwife die loss of 3,2cK) 
jobs at the carmaker and others among 
subcontractors. 

Hie abrupt closure of a plant that had 
operated far mare than 60 years and 



Unionists marching Thursday fr Luxembourg over the EU jobs crisis. 


had recently been modernized at an 
estimated cost of 9 billion Belgian 
francs ($252 million) was taken by 
many, as evidence that there was no 
European solidarity when it came to 
business. 

At -fust, Mr. Cortois said, he was 
inclined to accept Renault’s explan- 
ation that the closure was n e cess ar y 
because tire company was losing 
money ^ had too much capacity in 
Europe. But later be said he realized 
tfaaiRfaianVthad closed the plant to free 
up resources so that it could invest 


outside Europe. The sense of deception 
and anger in Belgium grew, Mr. Cor- 
tois said, when Renault recently signed 
an agreement to build a plant in Mos- 
cow to make the same nxxiel that was 
being produced in Brussels. 

“People were angered when they 
saw Jospin standing in the background 
as Schweitzer and the mayor of Mos- 
cow signed flie agreement,” Mr. Cor- 
tois said, referring to Prime Minister 
Lionel Jospin of France and Louis 

See TOWN,Pagel6 


Meeting Opens Amid Worker Protest 


By Barry James 

International Herald Tribune 


LUXEMBOURG — Union mem- 
bers marched through the bank-lined 
and rain-slicked streets here Thursday, 
siting to put pressure on government 


leaders attending the European Un- 
ion’s first special 


summit meeting on 


employment. 

Union leaders estimated that as many 


j, representing i 

18 million people ubafficiafly unem- 
ployed in the European Unio n — almost 

twice the population of Belgium -—awl 

the millions more who would join the 
labor marker if jobs were available. 

Meanwhile, presidents and pnme 
ministers were meeting at the Euro- 
pean conference canter about three ki- 
lometers (two miles) from, the city. 
The meeting, which was scheduled 


to continue Friday, promised no quick 
fixes, no extra money, no targets and 
no across-the-board solutions for the 
unemployment crisis. At best, officials 
said, it was likely to come up with a 
system of peer pressure that would 
hi ghligh t more clearly how effectively 
countries were tackling tire problem. 

Prime Minister Jean-Oande Juncker 
of Luxembourg, who presided at the 
meeting, said the EU leaders probably 
would endorse annual reviews of nar- 

systemof^ sanctioreTfcx countries that 
manifestly failed to make the grade. 

“It is not a question of sanctions,” 
Mr. Juncker said, “but do not forget 
that all this will happen under the gaze 
of public opinion, national parliaments 
and the European Parliament. No one 
will want to be bottom of the class.” 

Several countries, led by Germany, 
were lukewarm about the conference. 


arguing that employment policy was 
strictly a national issue and making it 
clear that they would authorize do new 
spending. Pome Minister Tony Blair 
came to vaunt Britain’s labor flexib- 
ility, which has given Britain one of the 
lowest unemployment rates in the EU, 
but at the cost of social .protection that 
other members of the Union have said 
must be maintained. 

The s umm it meeting on employ- 
ment was called largely at the insist- 
ence of the Socialist-led government in 
France. The Socialists made employ- 
ment a central plank of their election 
platform. 

France insisted the conference was 
needed to give the European Union a 
human face and provide a social coun- 
terpart to the stringent belt-tightening 
that European countries have had to 
adopt to meet the criteria for die Euro- 
pean Single currency. 


CURRENCY & INTEREST RATES 


Nov. 20 

, na cm |M fcfl SJ.SJ.T* a Ft** 

* * *5 ™ Sis* — S4iis* urn uw u* UK* 

}-» w *75 rwj* 1 UK — BJB *lBm tuns aw* 

«' MB* MB 4 m m M3* U«* um uae: 

UW uw asm uns an® tmsenat 

jSisBS“®i!aa5 'ssfiSS ^ ■ 

2ft, (Tan ass Law n m u*ut na». 

uiui mw mx n u«3 an ua hub 

i — W IJ" UB 4U» UBI‘4B 1W 

us* mu u yin u — u ua 

^ ^ fiJCT l!S UB UX3* — w 

um unt aw “*2. j*** — unt* am mos« 

li® “2 fS! SS li£2 UOBUIW ,ta HUB 

SS "S S KISS S — “ 

ESEeaf nSemMba -£ i+*miu:mt*+***»fm*** 


LlWcWJbor Rates 


Nov. 20 


_ . Y8e ECU 

l-nordb ST+-5H M-3W+ Ikk-lkfc 7W»-7 V* 3tt-3Vk Jk-*k *** *** 
Vmonft »-5» 3V»-3* l*k-2 8Vk-Wk 3tk-3*k Sk-»k 4)k-4*k 

frfltooft SH-SH 3«tk-3* 2-2 ft m-TW* M-ZV* 9k-9k 

Hear S*i-6 4rt-4¥a 2*+-7*u 8Y+-BV+ ll-ft 4*1-0* 

SoutteK teitn UmA flank. 

Rnmivuautaeto ke eiba nk depa & afSlaiaBonaWmimioraqt M irl). 


Key Money Rates 


PrtMnrtt 


data Pnv BriMn 
600 £00 


fMqrCOsMm 


m**** 2l*? 

gntofS 7-7295 
Zi«n 37JM4 

S 53* 

i a***- ^ 
MV.M9- 152 


mti w 

HZNWdB 


PU-IMsa 
PMWizMv 
Pwti 


SovArtvol 


Per* 
8265 
-1^103 
TJB 
34M 
3J1 
176J0 
591 20Q 
3JS05 

urn 


S.*fc md 
lU(.w 

mitam 

TtotvmS 

TMboM 

TWMfUin 

DAEdkbM 


NTS 
^ . 

1137 JO 
7SU 
32.73 
3?S0 
18BS45L 
3S71 
* 9U7S 


l-lwiManurM 
27 — ■ TiMMlf 

s i w n i —nw 

7-f— Tnawyndto 
UHwrfi — ynoW 
JLjHrTnuifbtRd 
Mmai«K*aMvn 

AS 


Cdlaowy 


as 

BVk 

Qflmq 

m 

7* 

S*i 

.591* 

iHMftl WHtaHfc ’ 

7H 

71k 

521 

578 

3-MthUam ate 

7*8 ' 

7W 

5*0 

£58 

S-uwuWi hrtwSealt 

nt 

V* 

5.14 

514 

11 faaOtt 

6S3 

639 

519 

518 




522 

568 

Braes 

tutawntiw rote 



579 

577 

330 

330 

581 

579 

OMmom ■ 

Wt 

3U 

583 

582 

1-atebMeferak 

' 19+ 

39k 

605 

603 

3-oratt Mabrak 

3* 

3» 

510 

51D 

i inralti Irfetrafc 

3* 

» 



ifrfM-aAT 

550 

553 

050 

044 

050 

044 

eSuMumMm, oraff Ijwnra. 


3— 


Forward Rates 


C ai— c r 


PtHdStafiof jjSTO )j&9 

tMAaMv i-n« !■£» 


yao 


yntoi tom 

12627 125J* 12520 
1,4032 1427 1^022 


10-ywBMtbood 


SSSSf ■ 155 «■ «• 

xassssSSS^SSESSas 


L tnMrm 
CeMmm 


f Bgiimwi 

HmM 


053 

055 

055 

1*7 

-450 

xa 

ass 

2J9 

3M6 

SSI 


047 

050 

050 

1J4 


450 

3 U 5 

53 

329 

33 

552 


Gold 


ZmfcO 


AJVL PJA. Off* 


NX XMQ -065 
HH ffi C 3D270 —025 
NmYsit 30SJOO 30320 -120 
US. dBBaaperwnc& London atikU 
MmsZiHtdtandttcuyoncepeok^ 
MtdBSbg/nlas Mew YMc Oner 
CDecj 

SoaafRmOta. 


Asia’s Woes Widen U.S. Trade Deficit 


CeurtobyOtrSufFrmMvacAa 

WASHINGTON — America’s trade 
deficit soared 17 percent in September to 
an eight-month high as imports of toys 
and telephone equipment helped push 

thft trade gap with PHina and nfher A sian 

nations to records, the government re- 
ported Thursday. 

The Commerce Department’s report 
on the $11.10 billion deficit, the worst 
since January, wwim amiH financial tur- 
moil in Asia and as President Bill Clinton 
prepares far a summit meeting in Van- 
couver, British Columbia, this weekend 
with the region’s leaders. The U.S. trade 
deficit widened from a revised $9.46 
billion in August 

U.S. imports from all countries rose 
1.2 percent, to a record $89.1 billion in 
Sep tember. Exports slid 0.7 percent, to 
$78 billion. The deficit with Japan rose 
6.9 percent, to $5.1 billion. U.S. pur- 
chases of electrical machinery and photo 
equipment rose, while sales of aircraft 
and cars to Japan slumped. The trade gap 


with China jumped 13.4 percent, to a 
record $5.5 billion. 

“Our trade situation with Japan and 
China remains problematic,” Commerce 
Secretary William Daley, said. “The 
growth of our exports to China continues 
to lag far behind growth of our im- 
ports.” 

The deficit with the so-called newly 
industrialized countries — Hong Kong, 
South Korea. Singapore and Taiwan — 
more than doubled to a record $2 billion, 
pushed by a surge of computer imposts. 

Economists predicted the flood of im- 
ports from Ask would increase. Sharp 
devaluations of the region’s currencies 
will make Asian goods cheaper in the 
United States and make it difficult for 
those countries to purchase U.S. goods. 

Separately, in Japan, the Finance 
Ministry reported that the country’s 
merchandise trade surplus surged in Oc- 
tober as manufact ure rs raised exports to 
the United States and Europe to com- 
pensate for Japan’s slumping economy. 


“The rising trade surplus confirms 
that Japan’s economy is in bad shape and 
that irs still heavily dependent on for- 
eign demand for growth,” said Yoshito 
Sakakibara, an economist at Salomon 
Brothers Asia Ltd. 

The customs-cleared trade surplus 
climbed 140 percent, to 1.1 trillion yen 
($8.71 billion) in October, compared 
with 462 billion yen a year earlier, die 
Finance Ministry said. 

The U.S. trade deficit for fee first nine 
months of 1997 is running at an annual 
rate of $1 153 billion. In 1996, the deficit 
hit an eight-year high of $1 1 1 billion. 

The trade deficit was driven by a $200 
million increase in U.S. purchases of 
toys as U.S. stores stocked up for the 
holidays. Half of all toys sold in the 
United States come from China. U.S. 
purchases of telephone equipment from 
China jumped by $105 milli on Amer- 
ica’s biggest export to China, commer- 
cial aircraft, fell by $169 million. 

(AP, Bloomberg, Reuters) 


A Bad Stock Pick 
Sparks SEC Probe 

Did Analyst Gain From Mistake? 


By Timothy L. O’Brien P 01 * ^5 years. Mr Han- 

HewTorkTbnesSennce ?«*ds polls of 


N EW YORK — On 
Sept. 18, Thomas 
Hartley, an influen- 
tial analyst with 
UBS Securities, identified 
Bankers Trust New York 
Carp, as a takeover target for 
Travelers Group. Bankers 
Trust’s market value jumped 
$1.16 billion before trading 
was halted drat rooming, 
seeming to offer proof that 
Mr. Hanley’s word was as 
good as goRL 
But a week later. Travelers 
announced it had other plans: 
It was buying Salomon Inc. 
Mr. Hanley’s raise call left egg 
on his face, but it also may 
have put money in his pocket 
Mr. Hanley invests wife 
Harry Keefe Jr., atnooey man- 
ager whose firm, Keefe Man- 
agers, had the good fortune to 
buy Bankers Trust stock 

WAIX STREET WATCH 


7W 7V» 


shortly before Mr. Hanley 
predicted a takeover. “When 
the stock jumped, we had a 
windfall,” Mr. Keefe said. 

Mr. Hanley's erroneous 
prediction is now the focus of 
an investigation by the Se- 
curities and Exchange Com- 
mission into possible manip- 
ulation of Bankers Trust 
stock. Mr. Keefe said Mr. 
Hanley had played do role in 
his timely decision to buy or 
sell Bankers Trust shares. 

Mr. Hanley declined re- 
peated requests for. an inter- 
view. UBS, which 
his investme n t wife] 
said, it was “not aware of any 
transactions by Tom that were 
in violation of our policies.” 

Whatever the outcome of 
fee investigation, the financial 
relationship between Mr. Han- 
ley and Mr. Keefe off era an 
tie of some of fee po- 
thatmaycom- 
proonse the objectivity of ana- 
lysts* research or forecasts. 

It is well known that the 
independence of analysts is 
sometimes undercut by a 
firm's need to sell stock or 
win underwriting business. 
Less scru tinized is the extent 
to which an analyst's ob- 
jectivity may be influenced by 
his or her own investments. 
Mr. Hanley and Mr. Keefe 
been dose 


Keefe founded fee 
money-management firm that 
beats his name and is widely 
regarded as the dean of bank- 
stock investors. He said he 
managed money for a number 
of analysts — dl of whom be 
declined to identify — and 
said another analyst, not Mr. 
Hanley, had persuaded him to 
invest in Baucis Trust. 
Ordinarily, there is nothing 
or actionable about an 
lyst making a bad calL But 
fee SEC seems lobe interested 
in something more. It is not 
known whether die SEC is 
focusing oa Mr. Hanley's fi- 
nancial relationship with Mr. 
Keefe, however. 

The agency neither con- 
firmed nor denied an inves- 
tigation, although people in- 
volved confirmed its 
existence. UBS declined to 
comment “on any investiga- 
tion that may or may not ex- 
ist,” Mr. Keefe shrugged off 
concerns about Mr. Hanley's 
investment with his firm. 

He points out, as does 
UBS, that Mr. Hanley’s per- 
sonal stock portfolio is in a 
so-called “blind pool”- with 
Keefe Managers, meaning 


have been 


that Mr. Hanley exercises no 
control over stocks selected 
for the firnd and, theoretically 
at least, does not even know 
what stocks are in it. 

Of course, Mr. Keefe does 
not invest in a variety of in- 
dustries.' His investment firm 
primarily invests its $700 
million portfolio banking and 
financial services stocks. It 
could not be determined bow 
the blind pool was structured 
and whether Mr. Hanley’s ac- 
count participated in all of 
Mr. Keefe’s stock picks- 

Whiie fee number of bank 
stocks is quite large, blind 
pools are not foolproof. In- 
formation about then holdings 
can be discerned in a variety of 
ways, rather through casual 
conversations or through 
more tangible mams such as 
examining stock trades. 

Mr Keefe said he provided 
bank analysts with a valuable 
service. “These guys’ hands 
are tied, especially if they’re 
with a firm, that does under- 
writing,” he said “They 
can’t invest in the stocks they 

«i rent tA imiaet in * ■ 


friends for want to invest in.’ 



■Estado 

Q&Tbaos 

CEUC 

Bidding Unit 


STATE OF RIO GRANDE DO SUL- BRAZIL 

INTERNATi^ 

■ INTERNATIONAL COMPETITIVE BIDDING FOR 
THE CONCESSION OF LAND IN THE 
EXTENSION PART OF THE ASSIS BRASfl. 
EXPOSITION STATE PARK TO IMP1EMENT AN 
AMUSEMENT AND ATTRACTION PARK. 

The State of Rio Grande do Sul, Brazil, through its Bidding Unit 
-CEUC, makes pubHc that a pnxnoGng an international CompeWiw 
Bidding for the concession of an area in the new incremental 
part ortho AssJs Brasil Exposition State Park, in the municipality 
of Esteio, Metropolitan Region of Porto Alegre, the State Capita), 
to implement an amusement and attraction park, according to 
the following timetable: 



Bdi floor, Porto Alegre C?ly, Capital of Rio Grande do 3ul 
State; 

The period comprised between November 12th to December 

17lh, 1997, is meant {ex' the am ' 

Documents by the potential bic 

On December T2fh, 1997 there wi'H be a Public Audience, 
at the State Secretariat of Coordination and Planning, at the 
Secretary?* meeting room, 5th floor, Fernando Ferrari 
Administrative Center - CAFF, Avenida Borges de Medeiros, 
1501. Porto- Alegre City, Capital of Rio Grande do Sul State, 
Brazil, where all potential bidders will hove access to ail 
pertinent information, and wiH be able to express themselves, 
as well as all the items oF the Bidding Documents will be 
discussed, aiming at the further modifications in the bidding 
documents text, in case the administration considers it 
appropriate. 

On December 1 8th, 1 997, the revised Bidding Documents will 
be published; 

On March 2nd, 1 998, the Public Meeting for the receipt of 
the Qualification Documents and the Technical and Price 
Proposals will tpfce place at the Secretariat of Coordination 
ana Planning, at the Secretaryb meeting room, 5th floor, 
Fernando Ferrari Adninisftafiv* Center - CAFF, Awnida Borges 
de Medeiros, 1501. Porto Alegre CTty, Capital of Rio Grande 
do Sul Slate, Brazil: 

Further information is available by phone number (0055)051- 

223.0432 and fax (0055)05 1-21 7. 9291, from 09:00 to 12:00 
a.m. and from 13:30 to 18:00 p.m. and by Home Page - 

http://www.precergsxoni.br/celic. 

Antonio Carlos Pereira de Souza 
Director of CEUC 


k ■ 




's PAGE 16 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


THE AMERICAS 


| investor’s America 

ii : iii 'ifiTi ^ xwst I 





^'mmmml 


EJT^JT'WriV! 

SS&fi 


'•;$-••"»* « T ~ : •••■"-♦ 


'y^n 


. _„ »Vh--i-jttt:-:;; ttswavMWAK 13 *««ij».-.*--r*rr-r<"^ Ti 


1 gfftto fewiSw ariBaae&si 

—•**-'■ -*■—'■ >•■■—.••— -— - - j aaaSSK Btera BiBW • • ••"*** --- -- ■' v -tm-'rt-‘- *.■* 1 

I § yu; ';' *»»»»« Si*p!ri~;.'-:f*5 



r* Sou/ax Bloomberg, Rn/tas 


j,, Very briefly; 

^ • H&R Block Inc. said its loss bom continuing operations 
widened 10 percent in its second quarter, to $30.4 million — 
before a $10.8 million loss on its former CompuServe Corp. 
- r)i unit — as it spent more to expand its tax-preparation business 
i • in the United States, Australia and Britain. 

*; «MC1 Communications Corp^ the second -largest U-S. 

long-distance company, and Nasdaq, die No. 2 U.S. stock 
•‘®. market, announced the signing of a $600 million, six-year 
agreement to replace Nasdaq’s electronic trading network. 

■' • Sony Corp. said the investment house Blackstone Group 

* __ would advise it on ‘’ finan cial and strategic business issues" 
*" related to technology in the United States. 

^ • Mattel Inc, die toymaker, established a code of conduct for 
;* Suppliers that prohibits the use of child labor or farced labor 
and the breaking of minimum-wage laws. 

• Union Pacific Corp. shareholders sued the railroad com- 
• pany, charging it had failed to disclose problems stemming 
?' 6om its merger with Southern Pacific Rail Corp. 
u • Barnes & Noble Inc said it had a profit of $65,000 in the 
third quarter amid strong sales at its Baines & Noble and B. 
Dalton stores, beating estimates that it would only narrow a 
•** year-earlier loss of $2.6 million. Bloomberg, ap 

i 

* 

$1.9 Billion Deal for Safety-Kfeen 

f Bloomberg News 

HAMILTON, Ontario — Philip Services Corp., Apollo 
Advisors LP and Blackstone Management Associates III LP 
agreed to buy Safety-Kleen Corp. for $1.9 billion in cash and 
'*'■ assumed debt in an deal that topped a hostile bid by Laidlaw 
Environmental Services Inc. 

*' The buyers will each contribute $200 million and own a 
one-third interest in Safety-Kleen. Philip will choose half the 
„ . board, and Blackstone and Apollo will appoint die rest. 

Philip Services said combining the waste-disposal companies 
, would increase revenue and generate significant cost savings. 


Trade Gap 
Gives Yen Lift 
Over Dollar 


Bloomberg News 

NEW YORK — The dollar 
gained agains t most other major cur- 
rencies Thursday but fell slightly 
against the yen as reports of a widen- 
ing trade gap between Japan and the 
United States overcame concern 
that weakness in Asian equity mar- 
kets and currencies would add to 
Tokyo’s economic woes. 

While die Nikkei 225-stock index 
rebounded on hopes the Japanese 
government would use public funds 
to help take pressure off banks tee- 
tering under the weight of bad loans, 

FOREIGN EXCHANGE 

the gains were tempered by doubts a 
rescue package would emerge soon. 

“Apart from the sizable trade sur- 
plus and some hope the government 
will do something about the banking 
situation, there is very little to sup- 
port the yen," said Nick Stamen- 
kovic, an economist at DKB In- 
ternational. “The underlying trend 
is still for a weaker yen." 

“The dollar is resisting well," 
another analyst said, given those 
concerns, which be described as 
4 ‘not sufficient to buy massively the 
yen in the context of the financial 
crisis in Asia." 

The dollar fell to 126.03 yen in 4 
PJM. trading from 126.98 yen Wed- 
nesday. But It rose to 1.7410 
Deutsche marks from 1.7323 DM, 
to 5.828S French firaucs from 5.7980 
francs and to 1.4113 Swiss francs 
from 1.4038 francs. The pound fell 
to $1.6882 from $1.6910. 

The dollar climbed to near a five- 
year high against the yen Wednesday 
after Japanese officials seemed to 
dash hopes for a bank rescue. Ana- 
lysts see such a plan as vital to Ja- 
pan’s financial institutions, which 
are teetering under an estimated 
$227 billion in bad real-estate loans 
and declining stock prices. 

The dollar rose against the mark 
on expectations that interest rates in 
Germany would not rise soon. While 
many analysts had forecast a rate rise 
in the run-up to European economic 
and monetary union, a Bundesbank 
council member, Franz-Christoph 
Zeitler, said currency onion would 
not necessarily begin with rates 
higher than current German levels. 

The mark got some support in 
early trading on the belief mat Ger- 
many is more shielded from Asian 
currency and stock turmoil than the 
U.S. maricet is, but the interest-rate 
outlook later outweighed that, 
traders said. 


Shares RaDy on Hope of Action by Japan 


Gwmhibf<hrSKfF«mDlapm*a 

NEW YORK — Stocks rallied 
Thursday after Japanese shares rose 
sharply on signs (hat die govern- 
ment would move to fix the shaky 
financial system of the world's 
second-largest economy. 

Banks such as BankAmerica that 
do a lot of business overseas ex- 
tended gains. But unlike the rally 
Wednesday, the advance broadened 
to include small stocks and large 
computer issues. 

"People axe looking around and 
saying, ‘It’s O.K. to go back in the 
water,’" said Cummins Cather- 
wood, a managing director at Ruther- 
ford, Brown & Catberwood. The 
Dow Jones industrial average rose 
101.87 points to close at 7,826.61. 
The Standard & Poor's 500 Index 
rose 14.41 points to 959.00, lifted by 
a rise in regional banks on expec- 
tations for more takeovers. 


The Nasdaq composite index, 
which is dominated by computer 
companies, rose 25.34 to 1,626.56. 

Applied Materials, a computer in- 
dustry bellwether that makes equip- 
ment used to produce semiconduct- 
ors, rose 2 11/16 to 37%. The 

u-sstocks 

company was expected to report 
quarterly earnings after the market 
closed. Applied Materials was the 
most actively traded .issue on U.S. 
exchanges. 

Disk-drive mak er Quantum rose 
2% to 28%, and Intel gained 1% to 
80 13/16. 

Large international banks bene- 
fited from optimism that the troubles 
in Japan, where many are big 
lenders and fraders, may ease. Re- 
gional banks gained for a second day 
on speculation that more takeovers 


were in store after First Union 
agreed Tuesday to buy CoreS tales 
Financial for $16.1 billion. 

Banks also were helped by ex- 
pectations that bond yields would fall 
below 6 percent, increasing the value 
of their fixed-income holdings. 

But U.S, bond prices fell as a 
jump in jobless claims and signs of a 
slowdown in manufacturing were 
not enough to persuade investors to 
buy securities. 

The Federal Reserve Bank of Phil- 
adelphia said its manufacturing index 
unexpectedly fell to 10.1 in Novern- . 
ber from 11-5 a month earlier and 
lower than analysts expected. The 
report came after the government 
said the number of first-time applic- 
ants fra unemployment benefits last 
week rose, by 20,000 to 333,000, a 
bigger-than-expected jump. 

Analysts said the number was still 
low enough to signal a healthy labor 


martet and said it may S 
influenced by difficulty “ “Jjusang 
for Veterans Day. / h *Vfor 
claimants with one Jess day to 
benefits. The pnee on the bencn 
marie 30-year Treasury bond feU 
1 1/32 to 101 2/32 taking theyieldn? 
three basis points to 6.06 p®** 1 . 

Citicorp rose VA to J 27 - 
BankAmerica climbed l%to 75, 
Chase Manhattan climbed. 
stock slumped 1 last week when 
Chase said it had a 5160 nuU«m 
trading loss in emerging , mamfitaeni 
in the market turmoil of October. 

Bell & Howell fell 1% io Z3A 
after the provider of high-volume 
mail processing services said fourtn- 
quarter earnings would fall below 
expectations. The company saw 
sates growth did not meet forecast 
because some customers delayed 
purchases amid introductions of new 
products. (Bloomberg. API 


Stocking Staffer for Nerds: Rolodex on a Card 


By Paul Floren 

International Herald Tribune 

LAS VEGAS — The information 
revolution that has taken place over 
the last 15 years has put vast 
amounts of information at people’s 
fingertips. 

■ Franklin Electronic Publish- 
ers Corp. of Burlington, New Jer- 
sey, has gene a step further and has 
made a product the length and height 
of a business card, and just a little bit 
thicker, that puts much of .the in- 


formation stored on your computer purer is not practical The company 
r ig ht in your pocket. It is showing said it works with most agenda and 
off die device at this week’s Comdex word processor programs and has 


computer trade show here. 

Called the Rex PC Com- 
panion, a name derived 
from Rolodex, Franklin’s 
card slides into a port in a 
computer and uploads in- 
formation from specified 
programs, such as agenda 




room for more than 3,000 
addresses. 

The Rex was released 
last month in North Amer- 
ica and is scheduled to be 
introduced in Europe in 
February. White it lacks 
much of the functionality 


software. It can then be carried in a of handheld comparers, it is smaller 
business-card case and taken where and, at $149. cheaper, 
a portable or even a handheld com- • Computer mice are generally un- 


TOWNs Vilvoorde Expects Little From EU Jobs Summit 


Continued from Page 15 

Schweitzer, the chairman of 
Renault 

“It confirmed for us die reality 
that for big companies like Renault 
die world is the world, and that world 
is not Europe,” Mr. Cartels said. 

Vilvoorde came to symbolize the 
unemployment problem in Europe. 
Paradoxically, Mr. Cortois said mat 
although the closure had been made 
to seem like a catastrophe by die 
press, it had in feet had little direct 
impact on the town beyond the loss 
of about 30 million Belgian francs in 
taxes out of a budget of 1.4 billion 
francs, and the loss of trade to small 
businesses that saved the fectaiy. 

Only 145 Renault employees 
lived in Vilvoorde, which has 
35,000 inhabitants, the mayor said. 

“All the others came from the 


Flemish part of the country around 
Ghent and Leuven," he said. They 
arrived on buses that traveled 
around picking teem up." 

He added that when workers 
demonstrated in "Vilvoorde against 
the closure, it was die first time 
some of them had bear in the center 
of the town. 

Mr. Cortois said that the town, 
which is close to the Brussels airport 
and at the heart of a dense network of 
highways, railways and canals, had 
no difficulty attracting indnstry. It 
has more than 20,000 jobs, he said, 
and a work force of about 15,000. 

The mayor, who is also deputy 
speaker of the Belgian Chamber of 
Representatives, said that like many 
others he had been shocked by the 
“brutality*’ with which Renault 
handled the closure. He said Mr. 
Schweitzer had made the announce- 


ment at a news conference without 
any warning to the workers, who 
heard about their fete oo the radio. 

Renault reacted to the subsequent 
uproar and the threat of a boycott of 
its products by first setting up an 
inquiry into the closure — which 
backed the management's decision 
— and then by creating a company in 
agreement with the Flemish govern- 
ment to find another use for die site. 

It has until the end of this year to 
find another car manufacturer to 
take over the plant, but Mr. Cortois 
said it was inconceivable that 
Renault would allow any of its tech- 
nology to fall into the hands of a 
Japanese or South Korean rival. He 
said Renault had pledged to find 
other industrial users for the sire if 
oo carmaker was interested, and it 
agreed to rehire 400 of the kid-off 
autoworkers. 


intelligent: most just point and click. 
Computer cats are much smarter. 

The Power Cat by Cirque Inc. of 

Salt Lake City, Utah, is an “intel- 
ligent” glide-pad pointing device 
rtiflf is far mightier than the mouse, 
though it takes some getting used to. 

The glide pad lets users point and 
click but it also lets them scroll side 
bars without displacing the pointer 

and double click without lifting their 

hands off the pad.' 

The Power Cat also comes with a 
pt-n that lets a user write on the 
screen. A user can sign faxes before 
sending them directly from tire com- 
puter, mflkft handwritten notes in the 
margin of a document, or make a 
sketch that ean be saved in a graphics 
program or in a word processor. With 
handwriting recognition, it costs 
$79; a version without costs $29. 

• If you want to open up an on-line 
cafe, yon might look at the Internet 
Kiosk made by Technology Guard- 
ian Inc. of Westminster, Califo rnia. 

The black lacquered cabinet unit 
is based oo Technology Guardian's 
Galactic Satellite Internet system, 
which ases regular telephone lines 
to send information but far peppier . 
satellite links to receive them. The f < 
company claims a typical business 1 
user of tiie Internet sends informa- 
tion only 2 percent of the time. 

A single unit costs $9,995, and 
the technology is targeted to public 
uses such as banks, brokerage 
honses, hospitals and government 
offices. The kiosks have Zip drives 
so users can take along downloaded 
information. 








AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Thursdays 4 PJI. Close 

The 300 most traded state of the da* 
uplo the dosing an Wall Street. 
n» Associated Press. 


aw m»i u» uh on* Indexes 


Law 

uu 

am 

BH 

aan 

-ft 

4 

6ft 

-** 

Uft 

IM 

-H 

rai 

na» 

-1 

1ft 

1U 

-ft 

nft 

him 

-ft 

15H 

MH 

_ 

lift 

l*fr 

■H 

1« 

I9H 

»U 

2SH 

2W 

-4 

IS* 

Ift 

-ft 

Uft 

Uft 

ft 

Ift 

1ft 

*H 

14» 

Uft 

-ft 

411 

5 

•H 

1ft 

7* 

_ 

IH 

Ift 

■ft 

91 

31ft 

-ft 

n 

11W 

♦ft 

IM 

11 

-ft 

n 

?» 

-ft 

i/ft 

U 

_ 

5H 

SH 

-H 

7H 

9H 

»H 

FI 

♦ 

_ 

1, 

ft 


99* 

1ft 

-ft 

1 

1 

ft 

ft 

ft 

_ 

IV* 

UH 

*H 

H 

ft 

.4 

M 

54 

ft 

l/H 

in* 

-IH 

an 

an 

-4 

90S 

it 

*0 

» 

M 

-w 

1ft 

IH 


IH 

2ft 

♦ft 

ft 

H 

0 

IH 

m 

ft 

IA 

24ft 

-IM 

» 

H 

-ft 

19H 

19H 

-H 

7H 

7ft 

-ft 

atw 

im 

-ft 

10ft 

HM 

-H 


n m m n> 

S54 77ft 35ft 77V. -V. 

m> m m n wa 

7n 779 m tiv» ft 

m mv »■ mu *v» 

40 « fa W 

sa 7*i M 7 -V* 

mu w znw an -ft 

«JM Ih I l*k 

3» * M H 4* 

M ni 7 » 7 ft ft 

in h A A 

XS T7*i llm net -H 

m mt nw b*m -m 

l» B» M Wl 

1U lift lift lift -ft 

Mi lift Wft U »> 

nr* ■ m w at 

U9 1ft 1ft 1« -VM 

IE ft ft ft *T» 

f7 f n f -ft 

■m 3ft W MW -ft 

HD M M SA -ft 

m » i m ft 

M HA 19 WM tfk 

M ft H ft 

\B 1 IH MM *VM 

M 4fti AM AM -J 

m w 3 j, j 

UB Hi H Kk *1ft 

in n » w -ft 

mi f!M 2VM Bt **M 

iTi wft mw J» ♦« 

» an nft ia *»w 

11U Jft 1ft 2ft -ft 

IB Oh 4JH 4111 ft 

w oft ii in r 

m n MM Wft ft 

f uft 41 4M *1 

W*M m HM ■ *v» 

% ft ft - 

SB ft ft ft -ft 

S A ID 7»M vVi 

Ift till kft .Hi 

DM Uft IMh HIM .VM 

» im in in -ft 

8 7? e* I* : 

4fl lift IM lift 

W4 M M S*k -* 

794 7* 3ft 3ft 

« A < 4*k *VM 

340 UK Uh Mi 

4» 7M 7A 7ft 

M ift • a 

IS BBS m> 57 *H 

m *s*v umi *a» »ft 

S & £ & 

UU 1I4W HIM 11 M ft 

M3 8 irt in -ft 

JH7 7VM 4ft MM -ft 

IDI Mft lift liU »9ft 

2H Dm 1h Ift -ft 

mu mi u 

US 30 Mm 30 -ft 

S* 3m 3JV. W *Hi 

B in lift tut .Mi 

3ft 3 M -*M 

si n » h 

is n n n ft 

n ivw ft ft -«» 

am 7M b» a 'f 

M 4 M HM *ft> 

m ii « im ft 

in n n m -ft 

ai n ]» 3 r ft 

S X * -i 

SS & £ & 4 

313 4 m» « *tk 

w V* ft ,<Vm - 

m ! i*m i 

» 31 » n * 

KM * 1 M ft 

n n m n •» 

is m m m -a 

m 15 MM uu 

m im uu ini -ift 

as nft ii nn -ft 

mi m m mt •* 

S in n m 

Si » m 

SB 67ft i»M ■* 

UH «ft t 9ft * 

U im in* 

M I ft 


» m in 
is? » m 

1» ®a » 

a r sr 

MAM 

SS ? 5 

mi lift im 
IS* IftW 3ft 
im im m 
rtl Bit 21 
V « M 

JS S SS 


Ok M 
ID Jft 

ft 4 
I4H UM 
4ft 4 

! ISU Ift 
a 4ift 
lft> Ilk 
M0 t0 Ml 
1723 ft *M 
149 MM 9ft. 

IB ft I 
100 W Ii 
1W lift UM 

ill m n 
to « at 
Of 4 ft 
JH Oft Ift 
■si ioh is* 
Ml lift 11 
<W ft Ih 
um in ift 

6M 73ft 23ft 
UM 31ft 37ft 
(S w m 
SI Wl ID 
307 ft 3ft 
■I 9ft 1ft 
3SD Kft Mft 

m in n 

m 4VM 41* 
71V UM 31ft 
nt m lift 

■It 4t) 4ft 

in* J*ft m> 
711 ift t 
IK W> U* 
m lit i 
M7 25ft 2SVM 
tm uu im 
111 MW lift 
111 ft ft 
mt m n 
no ift fft 
me ift i 
SB 3ft BM 
*47 ft ft 
Mt 7ft 7ft 

IB lift lift 
114 fft fft 

Ift TOm 
m 3ft ift 

n m m 

in m w 

n* nt n 

3U Tift lift 
993 n ft 

M3 ift i 
1(7 i M 

730 7 ift 

833 S» 5ft 
17* ft ft 
ms in m 
791 9H 9ft 
BH Ift 1ft 

B H fft 

790 lift II 
111 II lift 

mi m ift 

329 TW 2ft 
»» 7ft Ift 

STD ft ft 
II W IM 
47015 lift 99ft 

stf an cm, 

IS* Ift 1ft 
ran lift im 
417 3ft »i 

97 lift IM 

!S »M 3» 

£ "m ft 

4H 1SH ISM 
227 17H ITU 

» SU ttft 
M Uft 

isn im im 

II m £ 

w & e 

us 2 tft 2 Ift 
*53 Ift 1ft 
1 II 3ft 3ft 
39* 7ft UM 
117 ift ift 

HI 

97 4M 4ft 
193 Bit 31 Vi 
741 1* 1ft 

ffi & sr 

'3 3 3% 
IS Bft 21ft 

UB » Sft 
m i?« lift 
m 3M Sft 
HMD 3A Sft 

UB Vk ft 

m is# is*. 
*•* wft m 

S*0 Uft Uft 
3M IT fft 
SB 7 MM 


t t 

Uft *ft 

n 

lift *ft 
21 ♦! 
4H *ft 

fift +lft 

3 

21ft -1 
2ft «ft 
ift 

121* -ft 

*> vft 

a * 

MB *w 
4ft .ft 
IM - 
«ft .ft 

in -ft 
H *M 
VM 


13ft -* 

*5 ft 

M 

Uft -ft 
m -ft 
im -n 

9M -ft 
IM -ft 
22ft -Ift 
3M -IH 
9H -M 
14ft -H 
Ift 4M 
9H -ft 
23ft -ft 

Uft -IM 

| -2 

X -1ft 
i -ft 
BH, -ft 
Ift -ft 
25ft ,H 

lift -• 
M9M 

fft -ft 

£ 5 

Vk -ft 
.I9M -ft 
IM -ft 
99k -ft 
IM a 
m -n 

as ** 

*n 

U -ft 

run -ft 
u -ft 
Ift -H 
* -ft 

k •* 

in -a 
m jm 
iv, 

9ft - 

I! 1 

Hh -ft 


-131 
Oft* -MM 
111 

m* ft 

IM -ft 
Sft ft 
29H -ft 
m, -ft 
*ft -Ik 
ISM *M 
T7» 

IM -ft 
W» -ft 


ft Dow Jones 

-ft W" «ft 

Comp 2?33J ZMM 1 

jt Standard & Poors 


Most Actives 
NYSE 


Noth 20, 1997 

High Low Latest Chgo OpH 


:M 4 iu 


w. *te 

90344 44W, 


Indintitatt 1 1 OS^O 109149 11D2J0 
Tramp. 661 -74 65544 656J6 

UllBtos 21XH 21041 21247 

Finance 11245 11027 11ZJ7 

SP500 WJ 93483 94459 

SP100 909 JS 895J0 906.05 


47374 ISM 
41971 43 
40I9S JO 

xm sin 

3BW 9Sft 

3471 1 10*19 


64M, MOM 44M -1M 
S«V SIM Mft +1M 
729 m 71 V» TtWk -Ift 
671* 44W &5VM -lift 

Issp ® 1w ss -jK 

^143»M ;7k 

1*M 171* 17ft, -ft 

S 43 -Ift 


0000 bvaMmum- carts par beshal 



276 

271 H 

271* 

-2 1102*8 

tor 98 

2BSH 

281 

2814 

-2 130612 

sw 

291 

287 

287* 

-1* 

30389 

294H 

290U 

290VS 

-2 

*7X34 

Septa 

287 

28* 

284 

-IV6 

4613 

Dec 98 

284*4 

28* 

2844 

-1 

20140 

Jut 99 



297 

■1 

334 


Nasdaq 


S00J4 +444 

6»3 +Z® 


Nasdaq 

Mft Law la* 


ra 137ft 

SSS Sft 


19*150 vmM 1W3 7 -1144 NOSOB 

170031 174454 177739 -1134 ORKMI 

330040 321600 ttOM -3047 BtoOH 

300247 10*4.14 1177683 -1354 


MM* law Umt IX. AMEX 

47147 467 JS 47245 -540 


a 3*ft, J7M - 2 <ft 
1ft IN p -lift 
W iftft tM 
6 ft J 2 M 059*1 - 2 ft 
CM 3]ft 329k -lli 

p 

37ft 13* Hi 134ft -|lfi 
P 3SM 17 -1ft 
3ft <»» Oft +'/, 
il 45 400k -17V* 


Dow Jones Bond 


70 Bonds 
lOUMUu 
10 Inctosttata 


Trading Activity 


5TOR *3915 Wft 9!*» 94M -V6>a 

Si ss p; w 3 -ijs 
m 

SC ^ a 33 $: as 

sra 1 * %8? A SS A oft 


Nasdaq 


Market Sales 



CATTLE ICMER) 

ML00Q fas.- cants per to 


nraw 

Pm. 

DSC 97 
Fsbta 

0X2 6080 

NYSE 

Amex 

Nasdaq 

602.12 

32X9 

615X9 

651X1 

4051 

522X8 

83£ 

72.10 7145 
70-37 70.05 
70X0 7045 
72X5 72.15 


E0tsdei4M00 HMkOatei 71469 
Wterfs op«l M 37493$ op 55 

SOYBEAN MEAL OCBOD 

100 hm- OaHon par tan 

Dk97 23BJ00 23X00 23440 +IJD 2&509 

JanlB 23140 227 JO 220110 -040 24431 

Morn 22540 22240 22130 +OW 26513 

MayW 22140 219J3D 21920 -040 17473 

AHtB 22140 21X50 21940 -030 U0W 

Aug 96 22140 71340 21390 -040 1975 

ESLK4M2&000WWS sales 2XNM 

Htefs apan W 121344, off 1,904 

SOYBEAN OIL CCBOT) 

40400 te»- (rah parte 

Doc 97 2565 2487 24.93 -04S 32467 

Jan 98 25J5 25.10 25.12 -0LS6 40461 

160798 2445 2529 2SJQ -OS6 24526 

May 98 24.10 2540 2544 -056 11460 

JI498 26.07 2X40 2543 -055 13955 

Aug 98 2545 2X30 2SL30 -045 1436 

Est. sates 30000 vtotfs sales 31499 
WedkcpenM 127462. 902408 

SOYBEANS KMT) 

A 000 bo nUnum-onls pw buaM 
J<»98 723 708ft 709 -6M 65498 

Mar 91 726M 711 h 712 -TV 23153 

660*90 730 716 716M -7 23339 

■M98 73216 718 71 8W -7N 21438 

Angie 725 713 713M -6U 1449 

Etf. totes 4&000 WeA sates 41.M1 
Waft aprai H 143643 olf 612 

WHEAT (CBOT) 

3oao bvMHniB- ante per DwM 

Dec 97 342 339 339M At 30509 

*60798 354 352W 3S3M -IN 41860 

Md*98 3641* 360H 361 -1* 7.916 

Join 369ft 366 366ft -2 17424 

Ed. soles 2X000 Wtift sales 2X161 

Mad* open fed 103400 up 1.910 


Livestock 


HW Law Latest Oqa OpM 
oKAitce juice mcno 

ISOOO Ift. ante peril. 

Jan 98 79J5 7845 7B55 +0.15 2X209 

Mar 96 8240 8140 1140 -0.90 1X062 

*6 atm 8*40 8440 8455 -095 X229 

J498 NL50 8740 >7.75 .1.14 1421 

EsL Hdn KA. Htetft sates 9467 
Wbtfs open M4X15Slafr 1439 

~ ~ Metate 

COLD (MCM30 

100 koyoL- OnOBipartiwsB. 

*w 97 30X30 -1.10 2 

Dee 97 30540 30340 30X80 -120 79J11 

Jan 98 30430 -USD 11 

Fkb98 30430 30*40 305.00 -140 5X363 

Apr 98 30040 306JO 38640 -140 10455 

JlflllB 31040 30940 30940 -140 71459 

Ain 98 31240 31140 311 40 -140 5414 

W90 31348 -148 14*3 

Dae 98 31640 31540 31540 -140 11444 

EC. sates 50000 WMft sates 80255 
Weds open W 71X754 off 1499 

HI MADE COPPER CNCM30 
2X000 Ibsr coals par II 
110*97 1645 84TO 8440 -140 1,190 

Dee 97 8660 84JD 84.90 .1.00 27462 

Jen 98 06.95 8535 8S4S .140 1427 

Feb 98 17.10 8570 85L70 -070 1451 

Mv98 87.10 8570 8575 -060 17J10 

Apr 91 87 .45 8643 8645 -055 1472 

May 98 8740 8675 8675 -040 4442 

JUI9I 0840 86.95 86.95 -045 1485 

■hi 98 8X40 87.15 87.15 -045 Z994 

BN. odes 15000 Wed* antes 9489 
Weds opan M 7U21, up 225 




MOO bur ox., cents par tey «. 
tor 97 52220 51740 5 2 2 20 +140 2 

Dec 97 524.00 51740 S22J0 +140 39406 

JOB 98 52540 52240 S15.40 +1.10 39 

Mor98 53140 52*40 52940 -120 44963 

531J0 52840 531.90 +140 1169 

534.10 52940 534.10 +140 *429 

teW g6J0 +IJD • 696 

Dec 98 54040 53740 53940 +140 4464 

Est ndas 3MM0 HtadanriSS *0427 
Vtetfs open M 19142X up 93474 

PLATINUM (NMEID 

50 liw ox- daSon per toy ox 

Jam 39370 39030 39220 *140 10568 

Apr* 38940 38740 38850 -040 1,905 

JU98 38550 -840 >7 

Ert sates NJL Weds sates X130 

Wed* open M 1246X^)19 

draw Pmtous 

LONDON METALS OJHB 
Dalian par araMc ten 
Ateratean ana* Grade) 

Spm 16I9M 762011 16T140 161240 

B»(nl 164640 164740 164140 166L00 


Dividends 

Company 


Par AM Roc Par Company 


IRREGULAR 

B kpt lr ekmd b 4061 11-28 1-22 

BiflWi Steel b 4322 11-28 11-22 

EwnsW Wiy - -335 12-15 12-30 

FmMifl Muff Inca . 55611-28 12-15 

RefabteLflnsA _ 14411-27 12-12 

stoat spur 

InMcaff 1 raanant (or Nsy2 shares bald; 
•jtfwte8G tp2farl spB. 

RdnfOfsstCafe 3 ter 2 apS* 1 
SatppsBk2fcr1 spBt 

STOCK 

Kwmecly-Wfcon 209110-27 11-17 

REVERSE STOCK SPLIT 
XCLUdlfcr 13 reyersespBL • 
INCREASED 


MahfianDiog 

PnMgeHna 


Par AM Rec Pay 

- J05 11-28 12-8 

- 425 12-19 12*31 


INITIAL 

•MtaHnSvBnqi - 47 12-3 12-17 

Horttmay Rod - 42 123 12-23 

SatopsBksn - 46 1-23 2-13 


ran i an 
sn n. 

M*M MH 
7ft 7ft 

. ** J5* 

UN IM 


Ift -ft 
A -ft 
2 9* 

S3* j 

jnt -3ft 
4%M -ft 
3TV, -VM 

in -n 

» +£ 
sft -ft 

s? *5 
4 X 

'm -ft 

S? 3 

HM -ft 
M*M -ft 
IM -ft 

ran -u 

MM 4* 

» -ft 

TW 

1SH 

Mfr ^ 

isn, -M, 
im -n 
5M -ft 
Uft ,M 
» -M 
ft *1 
13ft -ft 


§sr B a. 

FlTFlndfelN. 

FstMidMWBlKp 

MMigSua 

NYTkncs 


-21 1-5 1-30 

41 12-31 1.10 
M 12-8 14 

22512-26 1-22 
42 11-28 12-19 
.17 124 12-15 


NYTfanes Q .17 12-2 12-15 

SPECIAL 

FrsiUn Prtndpl _ 405 11-28 12-15 


ARC Era 
Wtourto 
AdvmtaCofp& 

BenniffBnq) 

Cota mb la Cm 

IcSSeltaaftCp 

Marsh Mdennan 
Nosh Finch 
WmiU Iiuih Inc 

OGE Enemy 
Pocahanlos Fed) 
Regkm&Rnd 
SMICdaUdg 
5MUMsen& 
Tidewater Inc 
Union Roc Caip 


REGULAR 

M .11 11-30 12-15 

8 .11 11-28 12-16 
.132 11-29 12-16 
Q .17 12-15 12-26 

8 .25 13-1 12-15 
42 12-2 12-15 
43 O 21 126 1-5 

0 50 16 M3 
Q .18 11-26 12-12 
Q .14 11-28 12-15 
Q 465 1-9 1-30 
Q .225 12-15 1-5 

Q ,2812-15 1-2 

G .18 12-1 12-15 
b 35 12-3 12-17 
Q .15 12-1 12-10 
Q JO 12-10 1-2 


N«ia«<; b-gppri ii-ili rai it par 
UMftfADH; HKiyabte te Canada 
■MBonffdic q^ubsslp s4amjnraMy. 


U5. Stock Tables Explained 

Sdesfisyns m unAMYtahly highs raid kwa reflect ttw previous 52 pgda phis the cunanl 
w^brtnalffieMiiHnigHMdo^wiinpgapNorslDdtdhltteiMlui iKi urOi ^ loaspaBMitonTiorai 
habem pafel «»yaw Nrfhtaw naiga and dMdndaBstownftrffw new stocks only. Ui*as 
eiiHMw ROM rate* of Attends am annual dstxpsecneris based on me latest dedanflen. 
o-aiwwd Mo adraW.b- annual rate of dMdend pOus stock dMdeiuL c- Bqaldanng 

d edored or p tod in p receding 12 months. f - amual rafe. ittenwsad on last 
0Marato^-*rideMlnQmMionfiindxsidi(ecttol5%naiHBiiWonatfaLi-irB(idtrtd 

«■" “*■ « WW «Utond medtoa. k - OMdend deefand or paid thte jwr. mi 
a oanniUtes Issue wHi Mdends h arreaix m - bmkmI rate, reduced an tastdedanrifan. 
"■ naHn w taltte P ost.gftwfca. The hfrHow range begins with toe start o» tnaRng. 
od - next day delMery. p* bihioJ dMdend, annual rate Unknown. P/E - prtoe-eomlngs rutla. 
g : dpse^ mi^toiKLf-<ffirtdend dMand or ptfd In pneadhg Wnwntoft phn stock 
dMdemL 1 • stock spRL Dtvfdend bogins wOti dote o( spBL its - sales, t - dftfctend paid In 
stock te precwSng 72 months, ostlmated cash vote tan *x -dividend orax-<l!sfitouScHi date. 

u- now yaailyMgh.v-liD(>ng halted, vt- In bankruptcy or nKdnrshJparlMtngnMrganlnd 
mdarttie Bankruptcy Aet,«rsKMWesa»umed by such cnrapantes.wd-wtwndbtttoutod. 
rat - when Issued/ war • wtoi ftnnnnto. x- otMMOand or et-tlgMs. ids - aMRsMbuHon. 
m-wKhoatwanaiit5.'r-«-dlvMtefldaM90leiinfulLyM-yleid.8-sol«ilnfufl. 


EsL sates 1X985 HMS sates 11497 
Vfttfs open tat 10140(1 up 263 

FEEDER CATTLE (CMBR1 

SWW Da., cents per to. 

tew 97 76.77 7647 7673 *0.10 1281 

Jw98 8045 7935 MM +04 1 8321 

Mor98 7945 7945 7947 +4L40 X367 

ArafS 80S 79 JO 80.10 +030 1,140 

MoyfS 8040 BUS 8043 +0.15 1432 

Aug 98 82.15 81.90 82.15 +025 514 

EsL sdes 1187 WmOs antes 2461 

WedS open M 1684X oil 174 

HDCS-Lm (CMERJ 
40400 fas- cants per b. 

Doc 97 6317 6115 6172 +0J0 14444 

Fab 98 6240 6X10 6X27 +042 1X77S 

AprM 3075 5830 5050 +042 3826 

JOP 98 6545 60S 6167 Mdl 3J37 

Jot 98 6450 6440 6445 +117 1401 

Est totes 10066 Weds soles 7447 
raftds epM IM 40400 up *29 

PORK BELLIES CCMER) 
bL- anti (Mr Rl 

PsbM 60.15 53J0 6005 -062 6469 

Mar«8 5945 5020 5085 -047 1,111 

M0y9S 1040 5945 5975 +060 450 

Est. sates 2462 Wad* solas 1477 
VMS apaa fed X625. up 24 

Foot 

Q3C0A (NCSE) 

10 meMe tens- spartan 
Dec 77 1581 1563 1564 -7 744 

Mar 98 1608 1594 15*5 4 67430 

May98 1637 1614 1634 -9 17427 

Juin 1638 1645 1665 -ID A327 

Septa 1679 1666 1666 4 54*5 

Dsata lets 4 9491 

Est sates 2453 Wedti sales 5456 
Weds open W 96.120 up 104 

Coffee cmcsQ 
37400 Ik- cents par 16. 

Dec 97 16545 16IJH 16240 -375 1466 

Marta 15745 15140 15340 -445 12.195 

Main 15140 147 JO 14775 -US 2491 

MW 14115 14XM 14275 -375 Z179 

5ip98 141 SB 13773 13775 -4J0 1.106 

Eat sates &J62 WMssdas7,l67 
HMB open fed 2148X01768 

SUOARWMLDll OK5E) 

11X000 fazenda per to 
M*98 038 Uta 1240 -031 119770 

May*! 1243 1240 1240 -029 31411 

M 98 1244 1179 1179 422 2W14 

Odta 1140 1146 1146 420 2X333 

EsL sates 3041 2 Weds soles 14437 
Wad* open W 20*764, up 265 


1 (HUS Grade) 

1B81.00 Tsazoo 188X00 188*40 
190700 190840 191040 191140 


56040 561 JIO 

57740 578J30 


61X40 613540 

632000 623040 


571040 572X00 
567040 5680OC 


2hc (SpacU HM Gnde) 

Spc* 121640 171740 
nnrnd 123640 123740 


54240 54100 

5t04» 56046 


613040 616040 
622540 «mm 


564&00 nw q i ffl l 
562040 563010 


116840 116940 
119140 119X00 


Mgh Low aese Chg* Opinf 


Financial 

IL5 T BILLS (CA6H0 

si nOoR- pit or 100 pa 

Data 9494 9491 9472 anch. 4181 

Mar 96 9545 9643 9544 -041 *43* 

JM198 94W -am 567 

Septa 9494 undL ' 23 

EsL totes HJL VMM Mates 303 

WsdSapanMllM5 

JYRTREASBRYKBOT) 

£00408 prte- ptel64fa«oMMpd 
Dec 77 law* iae-11 108-14 -07 220261 

Ejd- W tes 74080 Weds soles 3X306 
Weds apan M24X38X op 4339 

” YfiTIttASURY CTOTl. 

£00000 ■** ^pte&aaodiai 100 pa 

g*E 11M0 111-22 111-24 -0533X413 

Mwta 111-24 111-14 111-14 - 05 7X538 

J-Rta 111-11 111,13 111-13 -05 119 

gAMes8M00 Weds sales 13X615 
weds cental 411071. op iqtx 

US TREASURY BONDS CTOT7 

A 32ndi al MO pdj 
UM? 11702 -09 56X829 

Marta 119-11118-26 11847 -0915X069 
Joata 118-31 118-15 118-16 -09 UM 

BtWUes 360400 W*d» sates 361791 
WM-sapwi fed 740839. ep 11J11 

LONS CUT CUFFS) 

Cftqn ■ aft x 32ndf of 10 a pd 
S**E Ut - ® 11005 118-29 +0-24 14X643 
Marta 119-10 118-18 119419 *4)46 34391. 
EA“*e*: 80414, Pin. sates: 89346 
Pm. apan Wj 18X034 op X5B4 

GERMAN eoV.BUHDOJFFE} 

OWM408 - MOT lOOpd 
DM97 HD31 10123 TO50 +026 361,341 
Marta 10279 10X5* 10X80 +024 2 XOT 
EMeetes: M 20 Am. sates: UM 
Piar. apan Mt: 2X631 up 35 


HM Low Latest Chga OpM 
18-YEAR FRENCH 60V. ROHM CMATTF) 

Frakwoo-ptsafioopct 

D« 97 9MB 99M 99JM + A20 104176 

Marta 99-30 99.12 99 J* ♦ 022 2X7B0 

Amta 905* 9054 9874 + 022 12 

Ed-sMBBMrfll. 

Opaa M* 127,968 up £420 

ITALIAN GOVERNMENT ROND (UFFE) 
m. 200 raflDan - pta aflOO pd 
Dec 97 11X35 11X71 11337 -441 1ZT/J72 
Marta 11X7U 11X30 11X66 +044 10160 
Est sates 8X83X Pnv.iales: 50066 
Piey.ap«H* 131332 up 4138 

LIBOR 1480 NTH (CHER) 

■SnOkm-ptsafiaOpd- 

DOC97 94X7 9405 9406 anch. 21,113 

JPnta 9428 9427 9427 001 4860 

Febta 9436 9424 9435 001 X360 

Ed- sates RA. Weds sMet 1152 

Mtedfe apan fed 3X467, off 2X333 

EURODOLLARS CCMER) 
n oMavplMof ISO pet 
Doc 77 9415 9413 94.14 -0X1 45X630 

Febta 9419 9417 9417 0X1 399 

Marta 9418 9415 9416 001 415738 

Junta 9413 9409 9410 0X1 347X74 

Septa 9408 9404 94X4 0X2 240160 

Doc 98 9X98 9X95 9X96 -0X1 711.465 

Mv99 93X9 9X95 93M 0X1 161.502 

Jpn99 9195 9X91 9X92 -002 135X49 

Septa 7X92 93X8 99X9 0X2 100324 

D«C 99 9X86 9XB2 9X03 002 80103 

MraOO 93X7 no* *UU 002 7X566 

A»1 00 93X5 9X82 93X2 002 59X35 

Est sates HA WBds sates 280297 
WMk apan fed 2J403S& off *493* 

BRITISH POUND {CMOS 

62X00 pounds. Spar pound 

Dec 97 1X970 1X660 1X8780X012 50600 

MarM 1X896 1X780 1X7980X012 847 

Junta 1X71800012 74 

EsL sdti HA wed's sates <4464 

Waft apan fed 50522, oR 479 

CANADIAN DOLLAR CCMER) 

<tofam,S per Cdn. Mr 

Dec 97 -7075 .70*1 ,70590X023 67X21 

Marta 3125 3074 30820X023 5.294 

Junta 31 30 3099 31080X023 1X39 

EsL sates NJL Wads sates 1779 
Wad* open laT 74581, off 3* 

SERAUN MARK ICMER) 

12*000 roortes, s pw man 
Doc 97 jsm -57*8 .5732-00032 67X69 

■Marta -5827 -S77* X7H1 0OCO2 3X21 

Junta .56070X032 2X86 

Est sates HA MM* antes 15X68 
Weds apan fed 74380 off 3X05 

JAPANESE YEN (ONER) 

1X5 MOtenMa S par 100 yea 

Dec 97 >968 3880 7952+OX03413X7B2 

Marta X077 .7997 J066+OX03* X790 

Junta XI 77 XI 17 XI 77+0X034 322 

Esf. sates NA Weds satee 24164 

HM* apaa fed 13SX1& an 2X38 

SWISS FRANC. (CMEiO 

125X00 franc*. * par franc 

Doc 97 .7156 Jon JOH 00051 48X38 

M»9B 3219 3160 31W0XQ51 1701 

Junta J394-0OO5] 285 

Est sates NA WM* sates 7X75 

Weds apaa fed 5L930 off 761 

MEXICAN PESO (CMfiU 

BxW P 5m5 ^ !»°1MJ2+X0171 77#0 
HUrta .11590 .11540 .1U45+X0Z48 10233 
Junta .11132+4)0156 2.781 

Est sates NA Wsdfe cates 1480 
Wad* open fed 34984 up 591 

3-MONTH STERLING CLIFFS) 
saoaoo - ebon oo pet 

Dec 97 913S 9231 923S -M3X* 1*0789 

Marta 9239 9232 9138 +006 122X11 

JWN 9231 9232 9130 +0X8 100217 

Septa 92X1 9232 92X1 +009 77X45 

Oacta 92-57 VLSI 9157 +0X8 71551 

Marta 9236 92X9 9236 +008 57X12 

Jan 99 92.94 92X6 9iW -009 51 .356 

Septa 93X8 92X8 93X1 -All 34964 

Est softs: 97,141. Praa. sates: 74739 
PratapentaL: 754223 up 4373 

UHONYH EURO MARK (UPtfS 
DM1 nMan-riiaflWpd 
DaC 97 9630 9017 9019 +0X1 3BU32 

Jan 98 9019 9016 9019 +003 8X9S 

Febta 96M 94X9 96.lt +0OS 0 

Marta 96X7 9S39 96X6 +006 310019 

Junta 9087 9539 «9X6 +0X7 262,968 

Septa 9SX9 95X3 95X8 -006 213X19 

Dec* 9149 95X3 96X8 +4X4 193329 

Marta 9134 9128 9S33 -0X4 187X00 

Junta 95.18 9112 9117 -0X4 91106 

Esf, safes: 2X7JREL Pm. sates: 154230 
Pnv.apsnM: L8T7.5T6 up 1171 


S-MONTH P1BORIMAT1FJ 
FFSafMM-ptsaflOBiKS 
Dec 97 9026 9613 9633 

Marta 9005 94X0 96X4 
Jen 98 95X4 «39 95X3 

Septa 9566 95X1 9563 
Drata -9150 9146 9149. 
Marta 9536 95X2 9136 
GsLSMSS! 30709. 
opra mr.:7»XMupL3oa. 


High Low Latest Chga OpM 

Junta 9116 9111 9116 -007121.901 

Septa 9127 9514 95X7 +0X4 69X69 

Dec 98 95-23 9511 9125 -005 39.500 

Est.SDten 50900 Pm. sales: *7435 
Pm. apan fed: 530896 op M2J 


Industrials 

COTTON 2 (HCTTD 
50010 !>*.- cants Dor lb. 

DMC 97 71.11 MSS 7042 0X5 13468 

Mrata 7100 7141 71X6 049 30642 

MoyM 73X0 72X6 72.69 0X3 12X06 

Julta 7190 73X0 7179 016 11073 

0d« 74X0 7480 74» 015 951 

EsL rales NA Wetfi soles 21510 
WsdsopenM 80171 offl776 Z 

HEATING OIL DIMER) W 

42X00 SOL eanb per gal 
DKta 56X5 55X0 55X5 -142 31684 

Jan 98 57X0 55 XS 5015- -142 *0150 

F»« 5745 56X5 5035 -1X7 17XSB 

Marta 5055 5545 5010 -0X2 10565 

Aorta 5540 5475 5540 002 . 0084 

MOTTO 5430 5340 5440 -035 J33 

JWIta 53X0 5340 53X0 +0)8 3X69 

Est Mdes NA Wads sates 60724 
Wed* open M 128X31, up 244 

LIGHT SWEET CRUDE (HAUER} 

1 JKM bbL-dobon parbbL 
Dec 97 2039 19X5 19JB 060 32,938 

Jon 98 204* 19X3 19X9 055 1UJH4 

Febta 2049 19X8 1945 050 40355 

M»98 20^ 1942 19JB -0X7 SS 

Aprta 3133 1945 19X9 032 17X75 

MOT" 2015 1948 '19.« 0D 10116 

Est sMes N A Weds sales 1 202*5 
Vftedfe open bd 417,150 all 9S3 

NATURAL GAS <N«E» 
laooo Im Mura S per mm Mu 

M60 2X40 2400 0761 30276 
J ,X, TO 1M0 2X50 2410 017* *9424 Ii. 

J-®? 1533 1550 -0133 20267* Jr 

tor" Jb! 2J65 2490 0O7B laBSlP 

Aar9B 243) 1195 U3t -OJ323 114*2 

tor" 1180 21*0 2160 0023 im 

Bt sales RAWrassutei 60517 
Wed* apra M 230882 up 606 

0mJRADED»feSOUNE (NMER) 

S742 -1X3 44282 

Si Is ss ss s 

*** 59X0 53.15 5B40 -140 7^25 

Aprta 61X5 60X5 -ns jrS, 

ffitorTO 61JSS 60X3 ”5 .]« 

-MiTO 6000 «U33 600 -l" SCT 

-Mta 59X0 59.11 59.11 .1X4 i*97 

E*L sdes NA Wads softi 30607 
W*fs open M 90024. ap 14ffl 

GASOIL OPE) 

UAdoUm- 

DraW 17645 1734J 174X0 -345" U M0 


MnrW 173X0 171.75 171 JS 
17045 130X0 I7OX0 
tor" 169X0 10X0 168X0 
Junta 16075 14745 168X0 
Esf. *ra*K 20224. Pm. sates 

Pm. apan tot: 81X60 air 335 


-108 tarn 
-345 242B0 
-4X0 1*817 
-173 10X66 
-3» 7,145 
—250 0687 

-0X0 2070 

-1-T5 7X04 

:214m 


Unto 5UH7 
Itocto 50014 
UMto 29X55 
Unai 10230 

UndL 23X74 
UtKfL 44035 


BRENT OIL (IPE) 

£3 W 1056 

toy" 1072 !u 18X3 ^ Uni 

Sies: 21 Ti lSS: ® 

^.HlSaiS 8 * 68 

zaixkvMx 

SS BSsw^iw 

Jirata 27020 »6J0 976J0 +080 

^wles na Wed* sates 1 1 0852 

taad* open H *oix50 up 2371 

FTSE 188 QJFFE) 

murindwcpoiiir 

WJ SJSffias 31 ts 

SSSS BMW 

CAC401MAT1F) 

E^MpraMapafeit 

Dec 91 W1X In, 

Jmta 2843X W 09 

ElK,® 18 ®* 

Open feu: 92309 MI 1 ^ 3 . 


MMNTH BIROURA OJFFS 
tTLlraBfera-PWafwppd . 

□ac 77 93X2 9147 9192 -0X7112X05 
Marta Mta 9*XS 9440 +0X7)1520 


tony* 

Reuters 
0-1. Futures 
CRB 

, SoWwrA 

Intlfsmdi 


Commodity Indexes 

* * P roviso s 


laTrS ProrteK 56 

U.W* 






■ 







Ji, 


'HI 


J a 


<! -I III) [■ r 




INTERNATIONAL HERALD TRIBUNE, FRIDAX, NOVEMBER 21, 1997 


PAGE 17 


EUROPE 


Southern Africa Banking on Free Trade 


By Tom Buerkle 

international HenUTHbuju 

Botswana — 

White Sanborn Africa’s leaders 
talk of making their region a dy- 
namic free-trade *one for the 21st 
cenmry, a small automobile com- 
pany is seeking to tum that vision to 
reality terc m Botswana’s capitaL 

Just four years after starting a 
. smafl venture to reassemble cars 
from fats, Hyundai Motor Distrib- 
utars Botswana Pty. is building a 

200 million pnia ($60 millio^fec- 

tory capable of assembling 50 000 
jars a year, mostly for fee big Mar- 
ket next door in South Africa. 

By virtue of its mere complex 
assembly functions and its location 
inside the 14-country Southern Af- 
rican Development Community, 
fee plant will avoid South Africa's 
auto tariffs of as modi as 57_5 
percent The factory also should be 
a boon for Botswana, which is 
eager to develop manufacturing to 
wean, itself from the diamond 
trade, which accounts for one-third 
of economic output* and two-thirds 

of export ea rnings, 


Kitso Mokaila, general manager 
of Hyundai Motor, said fee facility 
was a win-win proposition: Bot- 
swana gets fee assembly plant be- 
cause erf its political stability, lack 
of foreign-exchange restrictions 
and low-cost boi well-educated 
labor force, while South African 
parts makers will supply 18 percent 
of fee content of the cars. 

“In terms of smart partnership, 
this is what Southern Africa should 
be developing,” Mr. Mokaila said 

Fostering more ventures like 
Hyundai's is one erf fee biggest 
challenges for Southern African 
countries as they seek to give their 
development a boost and re-enter 
the global economy via regional 
trade and integration. 

The region today is seeing its 
brightest development prospects in 
decades. The abolition of apartheid 
in South Africa and fee resolution 
of long-standing conflicts in 
Mozambique and Angola have 
fostered a welcome if still fragile 
political stability, and fee conver- 
sion of fee region's revolutionary 
leaders to sound budget policies 
and economic liberalization has 


fueled a broad recovery. The mem- 
bers of fee Southern African De- 
velopment Conunanhy have grown 


in the past two years, faster than the 
rate of popubtion growth, and in- 
flation is in single digits and falling 
in a majority of fee countries. 

But much of the region’s prom- 
ise remains to be fulfilled The 
region’s largely resource-based 
economies continue to trade more 
wife fee developed world than wife 
one another. Less than a quarter of 
fee bloc’s $45 billion a year in trade 
occurs between member nations. 

These capital-poor countries 
also attracted just 0 3 percent of 
global foreign direct investment in 
19%, or $1.2 billion, according to 
Standard Bank of South Africa, 
and two-thirds of that amount went 
to just three of die 14: South Africa, 
Angola and Tanzania. 

A major reason, government of- 
ficials and business executives 
agree, is that the region continues 
to cany fee negative baggage of 
past conflicts and economic mis- 
management Although Mozambi- 
que’s efforts to attract foreign in- 


vestment date from 1982 and the 
country ended its long civil war in 
1992, President Joaquin fhiguBn 
said- many potential investors still 
believed fee country was at war. 

The region's negative image is 
perpetuated in many cases by un- 
reliable water and electricity sup- 
1 plies, foreign-exchange controls, 
immigration restrictions and un- 
certainty about land and property 
ownership. 

Equally, many executives say 
Southern African countries are 
sometimes hesitant to practice what 
they preach about open trade. 

Owens Coming Pipe Botswana, 
a joint venture between the Amer- 
ican glass-fiber maker and Bot- 
swanan interests, has invested $25 
million in a pipe plant in Botswana 
to supply fee region. But increas- 
ingly, fee company is fluting pres- 
sure to produce locally if it wants to 
win bids far water-pipeline proj- 
ects in some of the region’s coun- 
tries, pressure that contradicts the 
bloc’s free-trade aims. 

”We need to have fee econo- 
mies of scale,” Bryan Letnar, fee 
company’s chief executive, said. 


Siemens to Promote Flexible Work Hours to Save Jobs 


Our Str# Prom Dopo&a 

MU NICH — Siemens AG 

Thursday that it would encourage its 
employees to take advantage of 
part-time and flexible working 
hours to improve job security at the 
electronics and engineering giant. 

Siemens, which is Gemrany’s 
largest corporate employer, with 
197,000 domestic employees, said it 


was b eginning a wide-ranging pro- 
gram to promote job flexibility, in- 
cluding encouraging workers to take 
advantage (rfarecent agreement wife 
unions feat allows employees 55 and 
older to cart then bonrem half while 


An “essential part” of fee ini- 
tiative -is increasing fee number of 
employees sharing jobs or working 


a four-day week, Siemens said.- The 
chief executive, Heinrich von Pier- 
er, sent a message to division man- 
agers in October encouraging part- 
time work as a way to improve pro- 
ductivity, the company said. ■ 
Siemens said last mnnih feat an 
agreement .with unions over flexible 
working conditions had enabled it to 
build a domestic factory valued at 


For France Telecom Holders, a Free Weekend 


Agence France-Prase 

PARIS — France Telecom is 
rolling out fee red carpet for small 
shareholders after its partial privat- 
ization last month, wife offers rang- 
ing from a weekend of free tele- 
phone c alls to behind-the-scenes 
tours of its telephone operations. 

The company has said it is eager 
to retain the loyalty of the 3.9 mil- 
lion small investors who took part in 
the share sale. 

France Telecom, fee second- 
largest phone company in Europe, 


will face competition for customers 
when France’s $2.8 billion telecom- 
munications marke t is liberalized 
next year. 

On Thursday, fee company an- 
nounced details of a “shareholders’ 
club” feat it said would be open to 
anyone wife at least 20 shares and 
offered a welcoming gift of a week- 
end’s free phone calls in February 
1998. Members will also be offered 
reductions on France Telecom 
products and guided tours of major 
telecommunications installations. 


France Telecom shares have risen 
sharply since their listing in Oc- 
tober. They closed Thursday at 
217.90 francs ($37.60), up 0.90 for 
the day and up 19.7 percent from an 
issue price to small shareholders of 
182 francs. 

Generate des Eaux SA's telecom- 
munications unit, Cegetel, is poised 
to compete nationally with France 
Telecom after the market is opened in 
January. It has said it aims to capture 
a 20 percent share of national and 
international calls within 10 years. 


200 million Deutsche marks 
($115.4 million) and to extend its 
medical-technology operations in 
* Erlangen instead of relocating them 
to a lower-cost place. 

About 8,400 Siemens employees 
are working part time. 

Siemens forecast overall profit 
growth for the current financial year, 
adding feat the turbalence in Asian 
markets would have little impact 

The rail technology unit will nar- 
row its loss to less ran 100 million 
DM, Mr. von Pierer told the Frank- 
furter Allgemeine Zeitung newspa- 
per. He said it would be the only 
loss-making division this year and 
would show a profit next year. 

The unit, which is being restruc- 
tured, had a loss of 177 million DM 
in fee year ended in September. 

Siemens shares closed at 103.90 
DM, up 4.00. 

Siemens said it expected to re- 
structure the fossil-fuel power plant 
business it had agreed to buy from 
Westinghouse Electric Coip. The 
unit posted a loss last year and lost 
market share. ( Bloomberg , Reuters) 


Results Send 
Shares Down 
At Hoechst 


Hewers 

FRANKFURT — Hoechst AG 
posted a sharper-fean-expected 49 
percent drop in nine-month pretax 
profit Thursday, and its share price 
fell nearly 7 percent 

A drop in profit had been ex- 
pected, given me exceptional gains 
generated last year by Uoechsrs re- 
structuring program, but analysts 
said die figures bad erase in below 
even the most pessimistic forecasts. 

They said results at the pharma- 
ceuticals subsidiary Hoechst Mari- 
on Roussel were particularly dis- 
appointing. 

The parent company posted a 
profit of 2L88 billion Deutsche 
marks ($1.66 billion) fra the period, 
which represented a 2 percent gain 
on a comparable basis, after fee ef- 
fects of fee restzuenning were taken 
into account The figure included an 
exceptional gain of 481 million DM 
from the spro-off of Hoechst’s spe- 
cialty-chemicals business. 

Hoechst shares fell 4.80 DM, or 
6.8 percent, to close at 66.05. 

‘*We expect operating profit for 
fee full year to increase cm a com- 
parable basis,” Hoechst said. 
r ‘However, we expect reported net 
income for 1997 to be lower, mainly 
because of die significant gains on 
the sale of companies and share- 
holdings in 1996.” 

Klaos-Juergen Schmieder. die 
company’s chief financ ial officer, 
said Hoechst would stick to its 
strategy of leaving fee chemicals 

h riKiness and t rangfnrming itself info 
a life-sciences company, despite 
problems. 

But Ronald Koehler, an analyst at 
BHF Bank AG, looking at the earn- 
ings report, said, “In my opinion 
they are a long way from achieving 
their stated gods.” 

Nine-month sales rose 4 percent, 
to 39.96 billion DM. Hoechst said 
that despite the negative effect of the 
spin-off of its specialty-chemicals 
business and its polypropylene unit, 
1997 sales would be around the 
1996 level, “mainly due to the cur- 
rency effect.” The mark has fallen 
against other major currencies, bol- 
stering overseas sales. 

Hoechst Marion Roussel’s nine- 
month operating profit fell 13 per- 
cent on a comparable basis, to 133 
billion DM. Hoechst said it would 
cany out a major strategic review of 
fee drug unit 


Frankfurt 
OA) C*: 

4500 • 

■4300- n. 
■4100 /•" 
} 3900 -j 
, SUifT- ■ 
3500 . iv 


j jason; 
1997 


London 
FTSE 100 Indwt 
.300-- 

■=5300 -fc 

It- MOO ail 

V p l 

|f-- ; 47W^ - - 1 

*■■«.[ •• 4500 | ■. » "is h "i 


CAC4G 

. 3100 

3000 JT 

2800 n 


J J A S O N 

1987 


’J J A S 

1997 


.... L'. V.’:/"-: 

Frankfurt 


roskt^ /i ; 

***** Vf- 

ttmind: ... 

im/x 




FTSEioq- jT 1 

■ -Stock Btphariga 

■■:pA049- /•: T- 

v SXfg- ' • • • 

. ATX - • ' '•‘T* 

srn . 


Source: Telekurs 


Thursday Prow. 
-.Close ■ dose < 

■'88440 0072 

JggjftgP £372.70 

3L91&94 3334.62 


67733 ■ ■ ■ 676.78 - +0.06 
AgfflMO ■ 4,830.10 +1.62 
58131 56 8.91 *3-83 

15296 15087 +1.39 

2321.19 2,790.56 +1.1 0 
3363.71 3,16835 +3.0 1 
1376.lt 1265.89 4031 
&S72J57 3319.70 +13C 

Ink-null! *uJ llcnkl rnhi.v 


Very briefly: 

• Volkswagen AG is not negotiating to take a stake in Volvo 
AB, a source close to fee Swedish carmaker said. Various 
German media have issued reports of such talks, and the 
companies have declined to comment 

• Banque Nationale de Paris SA shares rose 4 percent, to 
281.0 francs ($48.47) amid speculation France's largest com- 
mercial bank would merge with another bank, such as 
Deutsche Bank AG. Rolf Breuer, Deutsche Bank's chaiiman, 
has told two Swiss newspapers that when he looks at Europe, 
France is “fee only blank * for Germany’s largest bank He 
said Deutsche Bank is studying opportunities for expansion. 

• British regulators are investigating whether stock under- 
writers in London are overcharging their clients. John Bridge- 
man, Britain’s director of fair trading, said that among recent 
share offerings, set fees were charged that gave some'playcrs 
“substantial profits over and above what might be regarded as 
reasonable.” 

• Britain’s economic growth for fee third quarter was revised 
down to an annual rate of 3. & percent from the initial estimate 
of 3.9 percent hi fee second quarter, the economy grew at an 
annual rate of 3 5 percent 

• Ireland’s central bank, falling into step wife the Bundes- 
bank, has began setting a fixed or variable repurchase rate, 
wife a two-week duration, at a weekly auction. The central 
bank currently lends money to banks on a case-by-case basis, 
without disclosing how much it lends or at what cost 

• Airbus Industrie is considering pricing its aircraft in euros, 
the proposed single European currency, instead of in dollars. 
Airlines whose revenues are mostly in European currencies 
could benefit by reducing exposure to dollar fluctuations. 

• UniChem PLC. a British pharmacy wholesale and retail 

chain, has agreed to buy Alliance Sante SA of France for 
£277.6 million ($469.2 million) in stock, expanding its Euro- 
pean drug distribution operations. Bloomberg. AFP. AP 


WORLD STOCK MARKETS 


Thursday Nov. 20 

Prices 'ntoaricumndes. 

Teiekms 

HI*) Low dm Prow. 

Amsterdam 

rmWEl/UZ 


ABM-AMRO 

a 

AkzoNaM 
Boon CO. 
BchWtsscM 
CSMcm 
D onfcOwPet 

DSM 
Etantar 
Forth taw 

On£ 

G-SnccM 

fflST 

HOOOONOiCfQ 
HurfDoouta 
IMG Grasp 
HJA 
KNPBT 

kpn 

OcaGdnten 


RoSrcn 

RoreaJo 

RowlDuldi 

Untewpcro 

VendaxtnH 

V«l 

Woden K1 ora 

Bangkok 

tartafoSK 
Bangkok BkF 
KraSTMBk 
PTTBgtar _ 
StoaCawnlF 
San Cam BkF 
Tefcaumtia 
Thai tarns 
Thai Farm BkF 
UtdCtam 

Bombay 

ssnw 

HHnlPrtn 
hid Dm 8k 
ITC 

MctoonognrTel 
Rdtanomd 
State BkMta 
Start AuBMlIr 
Tata Eng Loco 

Brussels 


39X0 40 

165 166X0 
*.90 SWO 
339 JO 33990 
13140 137 JO 
30L20 3050 
. B 8950 
1 01 JO 105 
17770 ISO 
3090 31 JO 
8030 800 
6970 70 

51 57 JO 
8550 8630 
329 JO 33170 
8930 9030 
7670 76X0 
81 JO B150 
67.90 68 

6130 43J0 
7870 1050 
ffl.10 48X0 
57X0 57.90 
200 206 
134.80 13970 
10650 109 JO 
70X0 71 JO 
m toto 
5670 57 

17170 m 
11840 11870 
103-50 1 07 JO 
11130 1VL40 
10070 102 

4670 46JD 
241 24540 


High Lost 

Deutsche Bmk 1M3S 11110 
DndTetekom 3115 310) 
DnsdnerBank 7370 7240 
FlBMDta 275 268 

RusrtuiMed 11690 116 

FtteAKnipp 348 36250 
Getm 91 B9J0 

IIBteBinTnf - 140 139.10 

Henkrtpfd 1€8 jS0 10750 
HEW 462 462 

HsdAf ’ 72 70 

Hoechsf 67 J0 65.80 

Krataitt 607 595 

LnhnWItT S3 78 

LID* VB3 .1025 

LufltaauR 30JD 30J5 
MAN 537 524 

Momesimvi 806 796 

Mrt Jp e Mfl»d lcft34J0 3440 
Afeta) 75170 7a 20 

MuKhRnedcR 575 56150 

SAPpM 509 JO 500 

Scbeitag 17240 170 

SGt-CartK» 222 230 

Siemens 104J0 1013 

Springer (Axrt) 1350 I3S0 
Suedacker 887 880 

Thrisefl *2250 612 

Veto 10405 10340 

VEW 600 590 

Vtag •• |M 887 

Vc&swgM 933 924 


11370 11270 
3475 3440 
7250 6890 
Z7Z 287 
11450 HI 
365 36050 
91 9950 

340 U1 
107J0 107 

462 460 

7VJ0 69.10 
66JS 70LBS 
605 580 

8250 7650 
W41 1027 

30.15 3020 
525 51650 
“ 7B3 

34.10 
7225 7670 
SJS 55150 
in 465 
8345 7080 
509 JO 49250 
171 JO 16770- 
222 . 220 
10190 9970 
1350 12E 
887 BSS 
41950 40950 
10405 18045 
590 610 

88950 88S40 
93150 912 


Mgfc Low CIom Pres. 

SA Be wetter T22 120 71170 12060 

2S7S 2350 29 

Sosoi 5770 6680 5680 5660 

SB1C ■ 70933 . 2D8 20980 208 

TigwOah 6770 65 6640 . 64 


Kuala Lumpur 

AMMBHdgs 372 

Gsnaag 985 

AMBooWog 11 

Md taU SNpF 5.M 

PehomGas 875 


Helsinki nexi 


Crtnqrt 
DeUmteUen 


ForthW 

Gmatd 
ML 
GenBanqw 
Kndktert. 
PrinrflnoNB 


SETteriwaC2.il 
PmiME 43437 

8 SJ 3 

*3 ^ ^ 390 

dS % 7^ IS 

1550 1475 1475 16^ 
42 42 4550 

1M 100 102 102 

4175 3875 3950 43 

Saaitei 38 tedwe 3464J6 
Plttlws 345445 

568 S387S 559 54425 

1310 1241 1296 1268 

*54 440 444 44550 

82™ 8075 51 ta 

HO 476 504 4US 

222 710 ^0 21975 

15675 151-25 153 158 

24075 23250 23875 23975 
14 nra U U 
32150 309 330 3M5D 

wE unudm m* 

Pu r tea s 237278 

1565 1535 1S5 1535 

68« 68S0 6830 

So WO 9380 9400 

SlO 3140 3155 3150 

1B7S 18750 18975 187M 
1815 1770 TSTQ 17M 

8290 8230 £70 ^ 

3410 3340 3370 3390 

H20 7150 7710 7120 

7^4 1450 1460 1446 

£3, iSS iSS ^ 
HSS ^ Ug 

^ ^ s s 

338 5S SS 

^ XM 30« 3W 
119000 117900 118580 117900 


Ears A .. 

HattnaHt 

Kmlra 

Knka 

MtefloA 

MdraS 

MeJso-SeriaB 

Neste 

NttaaA 

Orfan-YWymae 

Outotampu A 

UPMKymtsnE 


4770 4770 
224 224 

51 5T80 
74 IS 
2£» 2650 
13450 13850 
4550 4550 
120 125 

452 456.10 
207 207 

72 n 

119 U1 
T9 80.10 


Hong Kong 

SSS1& ,ts 

CafcarPodfc 7X6 

_ — — 

1750 

3750 

aUcPW&c 3140 

MBS & 

HKM pq Gm «J0 
HKEMrfc 2575 

£88 

J 

565 

WtarfMB li| 


HttesSwf: 1805848 
PnrtaaelflSUt 
650 650 655’ 

1595 16.15 16 

6J5 6J5 685 

4950 5050 50 

1770 1750 18 

3670 3650 37J0 
30J0 30J0 3170 
1655 1680 1670 
520 530 540 

1030 

6175 - — 

6.15 620 670 

3558 39 JO 3970 
1370 13J0 1350 
2540 2550 2580 

14.15 1430 1485 
HB IK 2.13 
174 17650 17550 

494D 4950 51 

1550 1555 16 

2145 2150 2150 
1195 13 1115 

3SM> 2570 2640 
2 2XQ 177 
146 048 0^ 

52 5273 53 

2J5 2J8 2J0 

417 475 445 

555 555 570 

37 3740 37.90 
1480 ■ M 15.10 
875 8JS 8J0 


Copenhagen 

SST 

ShKwe 790 

SStateB 8 1W low 1W 1060 


Jakarta 

AshaM 
Bk wi mo® 

todOKJt 

SwenaH M 

sS5SgS« 

TelrtnmrtBrt 


Cwmtat Mac 896.13 

^FWktec41i*5 

1900 177S 1M0 19» 

600 SO sn 600 
650 575 S75 • 650 

7900 7600 7« 7975 

162S . 1 0S ws IBS 
2425 '2325 2500 2450 
BffiO BZ7S 8325 8575 

4600 4900 49S> 
3?» 3200 OTS 

2725 2450 2475 3725 


Frankfurt 

AMBB 

2A50 

AWZWB iUg 
Attain 125J0 

sr- as 

BUBBeM 

SSSm 


CKAG Crtcnta « 

sssa? .§| 


MS0 412 40130 

i rnaa 10* 1M.15 
6110 6 US 

aa aw 

tlS) 4130 41 

1386 1»1 lffi 

6190 61^2 

'gg'SSS 


Johannesburg 

ABSAGlWP - ~ *“ 

S 8 's HI 
Sfl* .2 .8 .1 J 


Bota»„ 

CG-SraBti 
De Be**. 

DortJnften 
FrttWBk 
Gan 
GFSA .... 




"VS IS ,7 !S >Ǥ 
S » a s 

J J «.» « 

46^0 45J0 4540 4550 
21 20.10 »10 
107 10160 1Q3J0 1W 
3125 30.10 31-58 ' » 

^ « **7 « 

« “52 £3 


ESirtHd- an w 

»g ”£ n £ w il 
Sum i 


HUaucD 
Nonoak 
llflflnnr 

SSScdlGp 

Rfeteeraert 


19J0 1975 Wig 

f HI 

"§ 'B’SS-S 

**16 li» 15^° 1S 2 

-'s« , av 

S4 3Q SL60 S3J0 5180 


TttKKh'Um 482 

RrttaantPM 307S 

iS 

Tenqga LfO 

UU Solnetrt 372 

YTL 170 

London 

AUMNrtl 975 

taedDmecq 540 

AogBan Wriar 8. TO 

Arm ■ 667 

AjdcGrew 166 

AaacBrfto* 553 

BAA SJO 

Bardop 1505 

Bolt 8.90 

aATM 542 

Ban* Sexriand 517 

BtuaOcte 158 

BOC Group 9.94 

Ba* 8S7 

BPBbra 375 

BrtAroji 1588 

MAtaaart 558 

BG 3M 

Bril Land 6J3 

Brt Petes 8.90 

SSiyfi 418 

BitSted 149 

miOeaxo IS 

BTR 1U 

BurartiOteW KUO 
Burton Gp 142 

CrtdeWfeekn SM 

CadbatyScteH 6J8 

CaritanCorna 465 

CorosilWon 7JS 

CaupasiGp 677 

CourtauUt 273 

Dtm 680 

Etacfroconponcata 434 
EMI Group 502 

Energy Group 6J5 

ErteiHteeof SJ1 

Fora CofcocJ 163 

GertAcddent . 9J9 

GEC 405 

GKN 12J5 

GtaroWefcoroe 1138 
GranadoGp 8J3 

Grand 5J2. 

GRE 117 

GroenaSiGp 17S 

GakrnM 577 

GU5 7 JO 

Has 7 J0 

HSBC Huge >439 

ra 861 

IrapITotooHi 197 

Stt ts 

Land Sec 1050 

1 mmn 281 

LegdGenl Grp 573 

Uo& TSBGp TJX 

UxusVaUy 2J3 

MsksSpencxr 6J3 

MEPC SJ2 

Mercury Ante 16J2 
MknrtGrtd Z96 

HaflPflteer SX 

HlSWesl 887 

Hod 742 

KonricfaUniop 169 

Grange 155 

PW 6» 

Pearssn 8 10 

Pttteptoi 1J6 

PowwGen 7JD 

FtorsSer Famel 4S 

ProbenSnl 660 

SMkwkGp ms 

Rate Group 151 

Red»c£] 841 

ftaferd 3J6 

RaedUm 590 

RwtoUMU 246 

.tss 

al^Gnwp 9^ 

SSrfSSer 7.U 

&&*** s 

ZS5Z ifl 

ScnIHetecnsIe 7J4 

SaSTvWf 4.» 

Seewter 2JS 

SeretnTrenl 9J0 

fMITrarapR 4M 

SatehHephew 173 

5anraw 601 . 

SaritaM U5 

SffwaSee 

U wowri 850 

sKr 7 

Tate&Ute 4£ 

Toes 49® 

TUBHOI 557 

31 Grata 69S 

T1 Group 490 

Knkin no 

IMtew 478. 

WAwnna &» 

UWNM 7J5 


144 244 392 

850 150 9.10 

1070 1070 11 

488 490 5J0 

685 490 880 

550 550 440 

190 2 zn 

169 169 190 

486 410 482 

23 M 31 
340 3^0 360 

495 495 1C 

420 430-450 

UO 150 136 

2JB 290 372 

FT-SE HO: 498866 
PrarlwK 030.18 

955 962 951 

5.12 SJ1 571 

7.95 888 79B 

450 654 665 

167 165 199 

5jO SSI SAi 

482 493 4Jt 

1440 lie 1474 
866 -868 165 

573 536 526 

495 588 588 

348 360 347 

948 960 971 

863 862 850 

371 173 370 

1565 15J0 1578 
535 540 562 

261 268 262 

450 456 456 

872 179 874 

407 411 487 

1^ 14fi 146 

451 455 456 

184 286 284 

10 1073 T8J5 
139 141 139 

585 518 5X4 

410 429 413 

462 458 456 
764 775 765 

458 475 459 

260 265 270 

*70 673 475 

430 432 472 

491 494 497 

4J6 432 672 

570 586 5J0 

161 1.62 161 
964 9J7 979 
397 401 195 

1276 1268 1272 
1257 1117 1256 
8D- AO 799 
567 575 572 

297 114 102 

368 171 370 

563 569 562 

690 7 495 

789 776 7.11 

1364 1420 1365 
877 867 873 

184 197 IBP 

876 8J9 878- 

US 28 1S5 

967 9 JO 960 

2JU 179 27? 

505 i23 585 

664 484 785 

192 194 192 . 
595 427 590 

571 5J1 572 

1474 1674 1483 

237 193 28 

572 542 579 

STB 8X7 &J4 

7.15 7J7 7.17 

364 ■ 145 158 

266 260 265 

460 670 464 

792 804 883 

172 US UM 
779 760 769 

-110 418 424 

431 469 665 

990 1022 993 
364 . 367 147 

877 880 B84 

3J2 134 .3JS 

579 595 587 

263 264 260 

474 Off 474 
2J8 2.91 293 

771 779 772 

891 970 368 

2J5 2JS 2J7 

492 467 
527 632 579 

121 378 135 

478 490 479 

mu m« 1798 
6JS . 7 478 

455 468 468 

2.74 275 278 
390 9.19 9 

418 438 420 

1075 10J0 109* 
1.70 131 170 

559 475 567 

7« US 783 
441 458 448 

U* 841 860 

437 492 440 

459 461 460 

473 483 471 

481 895 Ui 

476 4B 479 
478 490 473 

291 Iffl 2J8 
472 478 469 

Sjn 5X9 ■ 5J6 

7.13 7J* 7.15 


UMIMSm 
V esdnroe Lurts 
Vodafone 
W6ta™d 
WWonwHdgs 
Wabrtey 
WPP Group 
Zeneca 

Madrid 

AcoincR 

ACESA 

Agaos Bmtrtnn 


Hta 

Lew 

Oese 

PTMb 


Higb Lew Oese Proa. 


msh 

Law 

dosa 

Pro*. 

7X3 

732 

7X1 

7X1 



Aricte 

305 

301 

305 29950 

132 

321 

328 

332 

Paris 


EfedroftnB 

612 

600 

600 

597 

173 

155 

372 

353 


Ericssoo B 

3J1 

m « mm 

319 

XS5 

X2* 

XJ9 

826 



HermaB 

332 

327 32950 

326 

190 

za 

3X5 

349 

Accor 

1125 TOO 1082 1099 

tncortaeA 

685 

670 

*80 

630 

535 

5.05 

522 

SJ4 

AGF 

N.T. N.T. N.T. 29720 

IweatarB 


39 

367 

355 

273 

2X9 

220 

169 

AirUqutaa 

928 911 928 90S 

M0O0B 

mm 

219 

220 21950 

17.55 

17J0 

1755 

1723 

AkrirtAWb 

711 710 713 703 

Nanlbanken 

262 

25750 

261 

25350 


— . Ajd-UAP 

. . .• __ M Baaaan 

•bo raktSTlXl Dir 
PniMteSaLFi b£p 
X 21900 I14B0 CmolPh* 
» 2020 1980 

» 5880 5740 

» R410 ROM LCF 


B awsto 

Ben Cento He 
BCD Repute 
Bmlniii lte 
CEPSA 
Cottenente 


FECSA 

GatMaharri 


UnioaFenata 

VWwKCMWrt 


Manila 

§Sn Land 
E* Phfip 111 
CAP Heroes 
Mania EtocA 

pa Bn* 

Ptri Long DM 

SmMgudB 

SMRdmKdg 


21900 21480 
2020 1980 
5880 5740 
8610 8400 

4X70 4110 
1405 1395 
7950 7700 
2825 2775 
8900 8640 
4315 4150 
4430 4385 
2850 2850 

6700 6335 
2765 2715 
1285 1230 

6980 6620 
1840 1790 

2425 23X 
6570 64*0 

1465 145 
11670 11540 
4230 4070 
1475 1435 
2820 2820 


PSEteikc 117273 
PnwSaat;1l72J9 


Christian DJor 

Q^OeriaFnn 

Ctedt Agitate 

Danone 

Bf-Aqortrioe 

EridnnlaBS 


14 1125 U2S 1360 
1450 1360 14 1360 

S3 9260 9260 9260 
265 TJX 260 260 

74 7060 7260 70 

295 285 . 290 295 

365 345 345 365 

138 135 137 13* 

880 865 B75 B50 

4760 4560 46 4760 

620 * 6.10 *20 


France Irteatei 
Gan. Eon 
Haras 

Imf+nl 

Lafarge 

Lettered . 

LOed 

LVMH 

AUdtekiB 

ParteasA 

tSSSeV 

Ptoairt-PrW 

Pwranri ra 

RarauC 

Rexel 

Rb-PouteneA 

Saoofl 

Sdmeider 

SEB 

SGSTbmsoa 


SIGabate 

SteSwEatn 


419J0 41160 41540 41 1J0 PtwmtUptofen 
792 779 790 784 SoreMk B 

415 39410 409 396JO Sonia B 

284 27360 281 2X1 SCAB 

1020 1006 1010 1010 S-EBateenA 
3005 29S5 2970 2990 SkantfinFoe 

330 32420 32*20 326.10 Stasta B 
350.80 343J0 348 345 SKFB 

625 fl* 625 622 SoadwtemA 

602 586 599 586 SfaroA 

1 61 B *08 a* 605 Sr Handrti A 

1195 1160 1160 1225 ItahoB 
9« 915 925 947 

TV 7T1 724 719 

920 877 920 888 

7J5 7-70 7J5 7J3 SvdnBV 

5J0 iS 560 575 S»yuwcy 

21BJ0 216J0 217-90 217 

758 750 755 750 Amenr 

388.98 377J0 379J0 382 AMZBtag 

656 *41 641 : ; 

382 372 379.20 370 Bate 

1107 1081 1100 1095 Bromides tod 

2260 2180 2259 2177 OU\ 

1010 990 1001 983 CCAmaB 

318 31360 31690 315 CnlesMiW 

42BJ0 422 424J0 41BJ0 CBncicn 

msa t99J0 3OL80 29BJ0 • GW _ 

634 60S 626 

2948 2855 2842 209 GOMtaanHd 
2049 2025 >046 1999 ICiAgaMa 

166 16040 U3J0 151 Lend Lease 

ISM 1530 1549 

26480 25420 263.90 25*40 NrtADrtUank 

595 581 588 . _ 

319 311 JO 317^40 31170 Heart Carp 

MB *45 477 685 Podflc EHratop, 

39350 37720 37950 388 Pfereerlrtl 

764 757 73B 7*0 PUbJnatesrt 

7930 XS30 2996 
799 792 795 

1495 1495 1495 1430 WMC 

422 6C7 518 610 WKtoacBttw 

744 7U 743 720 WooSriePrt 

154 148 151 JO 147.50 Wochrart te 

656 646 654 648 

9245 91 9US-9QJ0 

37950 36720 37490 367 


254 247 25350 245 

231 225.81 230 225 

1B6 1B3JD 185 182 

180 T7SJB 175.50 17581 
91.50 8* 90 85.50 

371 3*2 368 359 

303 297 301 296 

18230 177 JO 182 17450 
184 180 183 179 JO 

106 104 10450 104 

274 263 271 263 

21450 21 OJD 213J0 210 


Market Closed sao pauio 


The stock market in Mex- 
ico was closed Thursday for a 
holiday. 


Protean: 15087 J8 


Ben Comm Bed 
BcnPufacm 
Bar efi Roma 


a?’ 

TteBcoo IWa 
TIM 


Montreal 

Bob Mob On 
cShka 
CA rimi a 
CTFMSk 
G a Metro 
G41rtertUaco 
HnoRS 
ta mU sGrp 


Rages CoomB 


OennanteBk 
Ekam 
HafctaadA 
KvaernteAsa 
NteihlMn 
Neeteeatag A 
HyamedA 
OrttaAMA 
PMfeaGaeSK 
Pette A 


Tmwd oa nOB 

SkrabrandAtei 


15750 15305 
4870 4760 
6995 6M0 

1575 1520 
26500 25850 
4630 4470 

9330 91 B 

10340 10150 
4920 4750 

38950 36500 
18080 17750 
3000 2 m 

6670 6475 

8650 BS0Q 
12370 121W 
1395 1348 
1009 98S 

2430 236S 

4380 4300 

15*00 W 
24300 23800 
M600 13950 
10650 10720 
6835 *735 


42 42 

26* 28W 

39 JO 39 JO 
47M 4715 
1940 19.15 
3 Ok 36V, 

4BJ5 47J5 
4X90 4340 
2X05 23 

44H 4470 
2W 28.15- 
* 755 

79 JO 7X05 


15685 15530 
4870 4795 
6M0 67BO 
1554 1540 

26500 25750 
4S5 4510 

92 96 9220 

10260 10040 
4910 4705 
38700 38400 
18005 17680 
2975 3020 

6655 6535 

B58S 8585 
12330 12100 
1374 1342 

10W 978 

200 2350 

4335 42B0 

1S3W 15080 
24100 23700 
14250 14340 
10805 1 07110 
6810 60S 


42 41 JO 
2845 28.10 
39 JO 3995 
4719 4716 

19X0 1940 

36* 3 M 
ess m 

4X90 44 

23 23JS 
22X0 22V* 

45.18 4SJ0 
4470 -44J0 
2120 2N 
7J5 8 

79 JO 77 JB 


BradeaeoPM 6J0 8J9 8J0 8J0 

BratUM PM 775X0 71499 725X0 719.99 

4898- 46X0 4680 4SJ0 

8X10 75X0 78X0 7450 
11J9 11X0 11X0 11.15 
aemraas 54000 513X0 513X0 52959 

.BoutaraPW 514X0 490X0 495X0 501X0 

UgMSerridOS 427.00 ilOXO 410X2 419X0 

290X0 285X0 290X0 285X0 
PM 231X9 22SJ0 229X5 227X0 

PautataLuz 13400 iz?jo 12100 131279 

SWNodewd 33X0 3150 3150 3199 

Soura Craz 850 8X0 140 7 J9 

Trtrtnspld 11650 11051 lino 11450 

Trtwteg 127X0 11250 11450 122X0 

TrtwJ 115X0 11400 115X0 107X2 

TeteqiPH 290X0 275X0 175X2 280X0 

*■— 32J7 31>B 3150 _._J 

750 7JD0 750 750 


Sydney 


UMtaTOtasMKTa 
Protein; 244230 

Aeiar 

636 

4.14 

A18 

671 

ANZBUeg 

1105 

VYi 

9.99 

974 

BHP 

1325 

1275 

131* 

13X5 

Bord 

163 

3X4 

3X5 

3X2 

Brambles tod 

2720 

2670 

2/X9 

2*71 

CBA 

16X1 

1*54 

1670 

1654 

CCAmaB 

10l99 

1051 

1041 

10X7 

Coles Myer 

7X2 

77* 

776 

7J1 


5X0 

570 

6 JM 

570 

CSR 

4X8 

A*) 

AM 

<51 


2X7 

2 X2 

9X4 

2X4 

GoodmnRd 

220 

2.16 

318 

2.17 

KJAasWta 

1078 

10X5 

10X4 

10X5 

Land Lease 

29X4 

29 JC 

29JB 

29X2 

MIMHrira 

Ned Aartaank 

1.15 

1970 

1.10 

19X5 

1.10 

1950 

M 

Nat Mutual Hdg 

2X0 

2J5 

336 

7X0 

News Carp 

779 

774 

776 

770 

Padfc Dwisp, 

3 

276 

278 

796 

Pfcneerlrtl 

374 

371 

372 

372 

Pub Bnodcml 

151 

774 

777 

8J9 

Rio TWO 

16X0 

1AM 

1A14 

1*45 

SI George Bank 

8X4 

8X2 

8X3 

890 

WMC 

5X4 

478 

470 

491 

Westaoc Bring 

■ gfc.n iLM« [M 

874 

11.16 

8X2 

10.94 

8X4 

1074 

8X9 

11X8 

Wortwoflte 

452 

4X4 

4X4 

437 

Taipei 

Stock 

Mortal tedro: 769379 
PiaaleaR 7705X8 

CrthoyUfatas 

139 

135 

135 

73490 

OioagHwaBA 

99 

95 

VS 

9SSD 


*950 

47 

61 

66 

CMtwDerototrt 

93 

90 

90 

91 

Otar Steel 

2250 

2250 

22X0 

27X0 

Rut Bank 

9950 

9* 

96 

96 


5050 

*s 

49 

49X0 

HuaHmBk 

TO 

104 

IU5 

103 

taflCMamBk 

55 

4340 

5350 

53 

Nan TOP tarttas 

51 

so 

40 

4970 

94 

91 

9150 

8950 

TahwtaStetf 

Totuna 

UUMoiBk 

12650 

122 

T22 

125.50 

34X0 

6650 

3340 

*4 

300 

6450 

3370 

6550 

UM World Oita 

5650 

55 

44 

5* 


The Trib Index PneesasotaMPMNimYakttmo 

Jan 1. 1992= 100. Laval Change * change year to dote 

% change' 

World Index 169.25 +2.49 +1.49 +13.46 

Regional Induces 

Asra/PadHc 9625 +027 +0^6 -22R3 

Europe 18955 +236 +159 +17^9 

N. America 21356 +3.81 +1R2 +31R0 

S. America 139.48 *0.44 -0.31 +21.89 

Inckistrlal Indexes 

Capital goods 214.07 +4XJ8 +1^3 *2525 

Consumer goods 201.75 +4.23 +2.14 +24.98 

Energy 201.50 +3.68 +1.86 +18.04 

Finance 116.77 +052 +0.79 *027 

MisceBaneous 156.44 +0.13 +0.08 -3.30 

Raw Materials 171.38 +0.88 +050 -2^8 , 

Sendee 16a06 +1R3 +1.10 +2239 

UfiSSas 162.15 +1.42 +038 +13.03 I 

Tha ln tBmabonal Hamid Trtourta Woiid Stock Index C tracks foe U.S. ribflar va/uas o7 ! 

280 htamaikxiaByimestablo stocks from 25 countries For mom information, a foe , 
booklet is araXofata by wrttng to The Trib bOax. 187 Avenue Charias da CauBe. 

32521 NeuBty Cortex. Franco. CompOaJ by Bloomberg News. 


Mitsui FudoM 
Mflad Trust 370 

MurateAMg ■ 4100 
NEC 1400 

NMcoSec 1550 


Damn 

Datwao Heavy 

KneaBPwr 
KacaEediBfc 
LG 5*0*341 
Pofcmg lro«5t 


sanwungEkc 
SHnhan Battel 
SKTetenu I 


55 D 00 sooao 

6270 5830 
ii«i 13300 
6200 5100 
14000 13000 
4510 4350 

21100 19200 
44300 41000 
34SD0 32700 
43500 39000 
7400 6900 

337000 316000 


51300 53000 
4140 5830 

14100 14400 
5100 6500 
136Q0 14000 
4560 4270 
20100 20700 
43000 44000 
33500 34600 
41300 43000 
. 7100 7W0 

322000 334000 


Tokyo 

AfiNtewriAk- 

Abww 

AsaH Bank 

AwddCban 

AsMGtan 

Bk Tokyo Mini 

BkYoknhraaa 

Bridgestone 

Caron 

Chute Sk 


orn teritt am 

Praviaes; C7*J* 

125 128 U4J0 

201 JC1JJ 20S 

2* 25JB 26 

370 30J0 3050 

18* 106 10150 

41 42 42J0 

1JQ 364 360 

371 37250 373 

237 237-50 239 

550 185 

*24 *30 *25 

4*8 474 479 

134 134J0 133 

120 120 134 

340 340 315 

MO 50 50 


Singapore 

AstaPocBrew 4.70 
CerdwiPoC 446 
Oy Deris 8X5 
Tte+Crato® 7 
Formfi* 0X6 
fortgn 13JO 
Lana 249 

Pnaer&Neaw 7JS 
HXLand* 225 
JffldMafcssn* 525 
Jerri Strategic* 2X4 
KeppdA 5J5 

,«— 2J* 

m, i 

PBtess yH rig i 414 

Stedtewwg US 
StagAtelorotei ■ 1090 
£tagLxroi AB 
StagPraF 21 JC 
StagTeaund 1J3 
ShwTatecooss 279 
TeflnBenk 249 
Wtadurtrlrt 070 
VM05teBkF 9X5 
VWng Trt Hrigs 217 
‘thUSdBtbn. 


rtrahHwaw 1*41X3 

Prate— ■ TOW 

448 448 470 

AM 44* 444 

7-50 750 740 

670 675 655 

0X1 OJ4 0J4 
13 13J0 1120 
251 241 246 

755 7X5 7J5 

219 227 223 

110 Ui UO 

282 2X2 248 

5.23 535 s 30 

2J0 270 276 

458 451 440 

2JQ 2J4 231 

8J0 &o as 
5X5 Ufl 570 
154 3X6 414 

4M 5X5 U0 
10J0 1030 1060 
4J* 4J6 4J0 
aa ion 20 x 0 

1J1 172 1X1 

274 ITS 273 
2X0 241 249 

040 069 OJD 

US UO 9 
210 212 117 


DoHcMKmg 
Man Bote 
Ortewa House 
DriwoSec 
DDi 
Deraa 

Eart Japan fty 


FuBBcaik 
Rif Photo 
FMtau 
HadMBk 
hnxfei 
Hondo Motor 
IBJ 
tw 

Bncte . 
tto-Yotote 
JAL _ 
JapaiTobaaoo 
JtSCO • 

KansaiElK 

Kao 

KransatoHvy 

KowaSart 

nradMppRy 

ira+n Brewery 

UteSM 

Ksewbi 

KUteo 

Kyocua 

K^vEteC 

Morotenl 

Ahert 


Stockholm snumuenaji 

Protean; 71 6Uf 

AGAB 97 .96 97 9550 

ABBA 9150 &ID 9158 8850 

AstPeuBl 212 210 211 JW 

MPa A 13B5D 1275D 12950 I2SL9 

AiksGepcaA 23650 22350.23550 231 


Mater Etoc Ind 
Mate Bee Wk 

eg* 

»Er 

MBaMddHvy 

MisebtelMol 

MteteUiTr 

Mini 


IHrt 225:1008X9 
Protean*: 1500x4 

l2S0 1140 1170 1110 

409 587 £05 SBI 

2650 2580 2600 260G 

569 510 520 555 

590 552 552 566 

825 764 800 70 

1790 1680 1740 1700 

415 385 390 390 

2730 3620 2670 JfilO 

3100 2890 3010 

2080 2000 2040 

1920 1880 1BB0 1910 

2440 2310 3360 2330 

554 SSS 525 517 

946 090 901 923 

311 » SI M 

1690 1000 HOT 1010 

£26 *01 05 597 

4000a 3700a 3990a 3781)0 
2460 3270 2350 2370 

5800o 56900 5730a 5ftl0o 
1920 1840 1900 18M 

4920 474) 4650 4770 

810 739 760 813 

.4680 4518 4570 4480 

14* 1400 1410 1390 

1140 TOO 1090 1080 
920 891 907 899 

4380 4200 4320 4310 

1140 1006 HQ0 1030- 

287 272 377 270 

MO 375 375 385 

5970 5400 5970 5700 
402 3W 395 392 

9630a 9400a 9600a 9500a 
2399 2240 2330 2340 

51 D 45* 4*3 458 

2190 2150 2150 2] DO 

1740 1700 1728 1690 

30 3« 328 315 

212 213 

691 

989 MS 954 941 

134 TO U8 125 

747 *97 733 *95 

442 402 418 412 

£220 £170 6210 6730 

1930 1930 190 

319 289 29£ 279 

380 340 358 340 

2120 1930 1990 1950 
3700 3S30 3*00 3590 
2070 2010 200 2020 
1070 ion 1040 1060 

TOO 9*9. 991 070 

25* 255 

352 

1440 1330 1400 1300 

500 488 00 490 

433 415 422 415 

1490 1340 1410 1370 


NKK 

Notour 5ec 
NTT 

NTT Data . 625Db 

tyPcrow 5*0 

Osaka Gas 287 

Rtah 1740 

Rota 12300 

Satan Bk 490 

Sack]fo 4000 

SomwBank 
Sanyo Ehc ’ 

Seam 
SelboRwy 

SEktelQBai 

SeUta House 994 

Seven- Elewn 8700 

Sharp 840 

Sbkata) El Pair 1930 

SWmfcru OS 

SMrvrtwQi 2980 

ShheUo 1M 

SterootoBk 
5ofllxn* 

Sony 10500 

SaraOwno .849 

ScoBltoanBk 1460 

Saadi Chera 448 

SwnBasro Else 1740 

StnkMeU — 

SntnttTrad 

TektoPtan _ — 

Toledo Own 3(90 

TDK 10100 

TahotaiEIPwr 1940 

Tttenl Bank 650 

Titeto Marine 1140 

Tokyo B Pw 2310 

■RtejnEfactan 6350 

Tokyo Gas 302 

TcteyaCotp. 557 

Tonen 930 

TopIffllftM 1(80 

Tomrlnd 
TcteSta 
Taatata 
ToyoTrasf 
Toyota Motor 3500 

VB BMnaacM 3150 

KXlMtKXlttJO 


Lew Oast Pro*. 
1280 1320 1240 

305 308 341 

3830 3900 4170 

1350 1370 1340 

1490 1520 1510 

I 379 400 374 

11*00 12000 11200 
670 668 

423 439 

252 253 251 

617 637 

3 50 153 

1410 l-ea i4oo 

1030k 1070k 1020k 
60100 60500 61300 
S33 S44 540 

270 279 278 

1660 1680 1700 

12200 12200 12500 
420 45D 462 

3810 3920 4050 

1110 1200 1150 

345 362 341 

7530 7900 75X 
5450 5600 S2X 

“ 907 889 

... 9*6 994 

8420 8500 8410 
820 B35 812 

1900 J910 1900 

458 462 460 

2820 2890 2810 

1740 1750 1730 

1170 1200 1170 

2750 2000 2750 

10100 1D4D0 10100 
803 832 7S2 

1300 1380 1370 

434 440 440 

1700 1730 1700 

2*2 263 2*5 

774 796 803 

3120 3190 3149 

3610 3610 3590 

9660 9000 9750 

1900 19X 1910 

599 615 630 

1080 1090 1070 

2270 2270 2290 

5850 5960 5830 

— 300 297 

557 547 

905 B64 

1600 1630 1*00 
580 588 595 

550 558 5*1 

1450 1460 1480 

79* 795 804 

3380 3450 3400. 

3030 30*0 3010 


NwMtoeNd 
Ncnmdninc 
Norcen Energy 

Wham Tatooon 

Nora 

Oraa 

PomlnPettn 
Petal Cda 
Placer Dome 
Foco Potto 
NtebSnk 
ReooJssana 
Rio AJgnn 
Regers Cartel B 
Seagram CO 
ShelQta A 
Smear 

TaBsmanEny 

TudtB 

Tefegtobe 

Tete 

Thonwon 

TarOoaiBank 

TransaHa 

TranCdaftw 

Trimark Rnl 

TttecHrtro 

TVXGrtd 

VNe ri ce urt Eny 

Weston 


Vienna 

Bortiler-Utfdeh 

CretHrnsJ Pfd 

EA-Genenrt 

EVN 

FlughcDenWIea 

OMV 

OestEleBrii 
VA Stahl 
V A Tech 
Wlenettag Baa 


Htfl LOW 
M.10 4*Vt 
24to 2155 
35 34JD 
1341* 13245 
1X55 13J0 
33 32ii 
2195 2155 
28 27 JO 
1170 1790 
13 12X5 
115.90 1131* 
3a» 3015 

26J0 25»» 

1760 17t 

47 JO 46X0 
2845 2745 
5090 50X5 
45J0 4440 
22V. 21W 
46 45.40 
30J5 SUO 
35X0 3540 
, 47JW 52J0 
2040 30« 

26>* 78ft 
7? 691* 

3X15 32.70 
ASS 435 
31 30-80 


ATX iodaK 17741 ) 
Protean: 126589 

903 887 89420 8S5 

626 *13 *13 670.90 

2980 2935 296* 29» 

1563 1 520 1551 1505 

50990 50X50 505 501.05 

17481722.M1729.90 1717 

972 9*2 966-50 9i£ 

50450 J90 498 48° 

am 3016 20172011.75 

2444 240* 2430 2410 


Wellington ■™ SgS gS“ 

Ak-NZedtlB 3JS 3J4 X34 130 
Briartylnri i.m 1.12 1.12 1.14 


Toronto 

AhfflUCotH. 
Atoerta Energy 
Alcar Akira 
Antenati Eta 
Bk Montreal , 
BkNonSalta 


BCTetecamm 
Btochem Phonn 
BotntartSwB 
Camrco 

aK 

cun Nan Rd 
Cdo Nat »- 


ComintD 
DotaXB 
Deodar 
Doaotee A 
Du ring Cda A 
EdperBrascoit 
EwaNcvMng 
FalrtaFW 
Fafcsnbridgr 
ReteherSoBA 
FtowNwadi 
Gulf Cda tat 
teperMOl 
Inca 

12^ 
Locwen Group 
MaaaBBM 
MorowMA 

AWOOflB 


UbaMrthon 
..... Telecom NZ 

T5£ lattartriahi 67*2JR WfccnHortnr 
Prawaot: 6719X9 


335 

334 

334 

1.14 

1.12 

1.12 

2X8 

258 

258 

4X8 

475 

475 

772 

7.10 

7.13 

154 

1X8 

1X8 

135 

123 

273 

383 

378 

378 

840 

831 

831 

10X0 

10X0 

10X0 


1635 17J5 
»>* 29X0 
4D.15 39J5 
1495 141* 

65W 65.15 
*190 65.15 
25X0 25W 

4485 4U0 
37 JO 3685 
371* 371* 

»J0 284 
5X70 5» 

«JS 4435 
7S» 7480 
%70 35J5 
34K 3K 
41.15 40H 

24V* 25*1 
23.10 2240 
10J0 IN 
25M 24M 
35 34 

.26*5 3*M 
1880 1BW 


19 J5 

3US HMD 

11J0 11 

89 A5 89W 
25J5 24ft 
59.10 57.70 
I9J5 1940 

a » 

8 ft -JI 

21.85 2lJ0 


1X20 17J5 
30.10 29JS 
39 JO 39 JS 
14*0 1190 
6&70 65 

4SJ0 AS 
2S2S 25-55 
43J0 43ft 
36J5 37 

37W 3* 

291* 28ft 
52ft 52 
44*1 44ft 
75ft 7X90 
3S1S 349S 
3190 Man 
4055 4N 
25ft 26.10 
2X65 23 

1040 10J0 


Zurich 


AteaccoB 
AlusumeR 
Aw-5ftanoB 
AMR 
Boer 
BaUn 
BKVUaa 
OteSp«a*n 
OaricatiR 
cmSutarGpR 
BeMrawttfl 
ETOftCtanie 
ESEC*“- 


2430 2645 oerUra &ucb R 

I IS & 


1940 .... 

3585 3570 
17 17 

89.20 sn 
1180 1» 
21ft 21ft 


SwavRetaR 

SAkGraapRI 


SP1WHC3S71£ 
PtwiaeuBWJO 
) 1776 1801 1753 

) 415 J35 -H6 

) 13 M 1275 IW 

) 2390 7450 2390 

) 801 830 BIO 

I 2120 2180 2110 
I 2430 2495 2425 

I 1233 1240 12M 

1 14X25 143 141-15 

I 1086 110* 1057 
I 907.25 207.K 20X75 

1 545 548 547 

I 6870 6925 6845 

I 4075 4100 4103 
i 1175 1190 lt»« 

! OS 555 55? 

2056 2086 200 
2212 2240 2180 

187 W l S32S 
1790 1799 I7M 

813 8S4 W 

1560 1560 157g 

300 300 300 

12780 13825 127® 
3B6JO 389^3 MS 
1495 1530 15M 
2740 2752 2J63 

776 780 770 

927 94S 

157 317* 2153 
.783 1788 1775 

1*S* 1*62 1*76 
1533 1534 tffl3 

579 591 573 



















































































I 




INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21. 1997 

" ASIA/PACIFIC 


PWE 19 


n Seeking Ways to Tame the Beasts of the Global Economy 


By Peter Passe] L 

Nr * r, ' ri Times -Venice 

NEW YORK — The global econ- 
omy- is here, and the consequences 
can be unnerving. 

■Currency after currency has come 
under pressure in recent months as 
investors, fearing that their assets 
would erode in value, convened 
their holdings into dollars. 

This week. South Korea reluc- 
tantly acknowledged the inevitable 
and stopped buying won to support 
the currency. For the moment. 
Brazil remains defiant, vowing to 
defend the exchange value of its 
currency, the real, even if it drives 
the economy into recession. Japan 
meanwhile, now seems more vul- 
nerable to the financial storm, and 
investors are withdrawing yen from 


the shaky banking system and buy- 
ing dollars with the proceeds. 

The sobering reality is that free 
international money markets and 
greatly expanded trade have made 
Currency troubles more contagious. 

“Once currency panics begin, 
they take on a life of their own,’* 

NEWS ANALYSIS ~~ 

said Jeffrey Sachs, director of the 
Harvard Institute for International 
Development 

But this latest series of crises, 
which spread through much of Asia 
and now threatens Latin America, 
has prompted soul-searching even 
among the high priests of free-mar- 
ket orthodoxy. 

A huge speculative infusion of 
foreign cash into the banks and 


, Stocks Soar in Japan 
Amid Hop es for Banks 


Canton to Cfcr SuflFrm Pap&rha 

TOKYO — Stock prices rose 
nearly 3 percent Thursday after 
Prime Minister Rymaro Hashimoto 
agreed to ask the Liberal Demo- 
cratic Party to consider using public 
funds io help dispose of bad loans. 

But market participants, who 
have watched the market being 
whipsawed ail week by hints and 
denials of action on that front, took 
the news in stride. Mr. Hashimoto 
later said in Parliament that more 
discussion would be needed before a 
final decision was reached. 

“The fact is, no one knows 
whether to believe them — we*ve 
had so many false starts, so many 
broken promises,” Neil Rogers, a 
strategist at UBS Securities Ltd., 
said. “It would be good for the 
market, but ifs not a panacea,” 

The benchmark Nikkei 225 index 
rose 466.03 points, or 2.94 percent, to 
close at 16,308.49. The Topix index 
of all shares on the first section of the 
Tokyo Stock Exchange rose 16.42 
points, or 1.34 percent to 1,238.02. 

On Wednesday. ■ the Nikkei 
plunged 5.3 percent — its biggest 
drop in nearly three years — amid 
concern the government would not 
spend money to help troubled fi- 
nancial institutions and stimulate 
the economy. 

The market's rise was led by fu- 
tures contracts. Nikkei 225 index 
futures traded in Osaka rose 580 
points to 16.430. and those traded in 


Singapore rose 490 to 16.380- 

Banking companies such as Sum- 
itomo Bank Ltd. and Sanwa Bank 
Ltd. paced the ascent. 

“The latest comments about pub- 
lic money, which were positive, 
halted the relentless sales which hit 
the market yesterday,” said 
Harushige Kobayashi, Yamaichi 
Securities' deputy general manager. 
“But a final decision has yet to be 
made on the issue, and until it is 
made, the market will probably be 
on tenterhooks.'' 

On Wednesday, dealers borrowed 
and sold bank shares in anticipation 
of a price drop after Mr. Hashimoto 
seemed to dismiss prospects of us- 
ing public funds to bail out debt- 
burdened banks. On Thursday, with 
the prime minister's apparent new 
stance, dealers scrambled to buy 
back those shares. 

Among gainers. Sanwa Bank 
closed at 1 .200 yen (.$94.54), up 50, 
Sumitomo Bank rose 60 to 1.380. 
Bank of Tokyo- Mitsubishi Ltd. 
gained 40 to 1 ,740, Mitsubishi Trust 
& Banking Corp. rose 40 to 1,410, 
and Long-Term Credit Bank of Ja- 
pan Ltd. climbed 17 to 296. 

Not all banks gained, as investors 
discriminated between those likely 
ro thrive on an infusion of funds and 
others that might be too weak to 
survive. Asahi Bank Lid. dropped 
35 to 520, and Mitsui Trust & Bank- 
ing Co. fell 33 to 308. 

( Bloomberg . Reuters) 


stock markets of developing coun- 
tries can strain rudimentary regu- 
latory systems, encourage borrow- 
ing for consumption and lead to 
speculative booms in real estate. 

“The regulation of domestic 
banks and stock markets is not up to 
the challenge of hot raoifey,” 
Robert Hormats. co-chairman of 
Goldman Sachs International, said. 
Hot money is a term used to describe 
foreign investments that could eas- 
ily be pulled out of a country a r a 
moment's notice. 

The sudden withdrawal of that 
money can cause local currency col- 
lapses that leave even the most pro- 
ductive industries with debts they 
cannot repay- 

Those Who are pointing this out 
are not suggesting that Asia or Latin 
America go back to the bad old days 


when individuals and corporations 
needed permission to hold foreign 
currency. But the governments have 
other tools that could be used to 
tame market excess. 

For example, regulations that 
give direct foreign investment in 
businesses preference to stock pur- 
chases can inhibit short-term for- 
eign investment and discourage lo- 
cal businesses from accumulating 
foreign-currency debt. 

Many economists remain cau- 
tiously optimistic that developing 
economies with high savings rates, a 
strong work ethic and business- 
friendly governments will weather 
this crisis. But all bets are off if 
Japan, with an economy 1 0 times the 
size of South Korea's, is hit by a 
panic in its huge capital market. 

Japanese banks, battered by 


JTT- 



| Savin KukvdJt/Rcnm* 

BUSY IN BOMBAY — A stock dealer talking into two 
phones Thursday as fears of a government collapse sent 
share! prices on a roller-coaster ride. The Bombay stock 
exchange's main index finished up 12.21 points, at 3,466.86. 

Yamaichi Asks Fuji Bank for Assistance 


The AsstKiaieii Press 

TOKYO — Yamaichi Securities 
Co., one of Japan's “Big Four” 
brokerages, has asked for financial 
help from Fuji Bank Ltd., a Ya- 
maichi spokesman said Thursday. 

Yamaichi, which is under inves- 
tigation 1 over alleged payoffs to a 
corporate racketeer, has seen its 
stock price severely battered in re- 
cent weeks amid concerns over its 
financial health. 

A Yamaichi spokesman, who 
asked not to be identified by name, 
said the brokerage had asked the 
bank to keep its liquidity level suf- 
ficient, but he did not elaborate. 


The newspaper Yomiuri said Ya- 
maichi had asked Fuji to provide 
short-term loans and help in raising 
capital. The report said Fuji had 
basically accepted the request. 

Last month, Yamaichi reported a 
group net loss of 8 billion yen ($63 
million) for the six months that 
ended SepL 30, citing poor results on 
sales of Japanese equities, especially 
in Europe, and continued weakness 
in the Tokyo stock market. 

Yamaichi executives have said the 
company is considering a restruc- 
turing plan including splitting its 
business operations into three entities 
and cutting 2,500 to 5,000 jobs. 


losses in real estate and stocks, have 
virtually stopped making Joans. 
While the government did close one 
large insolvent bank in an orderly 
fashion this week, the fear now is 
that depositors will withdraw their 
money from others before Tokyo 
musters the political will — and 
some $500 billion in public money 
— for a systemwide rescue. 

Japan has huge reserves of for- 
eign cuirency to buy yen and offset 
the flight of capital to dollars. 
Whether ihc government would do 
so. though, is a real question, as a 
lower yen makes the recession- 
prone Japanese economy more com- 
petitive in world markets. 

Tbe lesson is that the evolution of 
financial markets in Asia and Latin 
America has not kept up with the 
revolution in global capital markets. 

Foreign bonks and mutual funds 
stand ready to pour vast sums into to 
the favored economy of the month — 
and just as ready to pull their money 
out when things turn sour. But the 
financial systems in developing 
countries are not geared to prevent 
such money from ending up in office 
buildings that no one wants to rent. 

Regulators in these places have 
actually encouraged borrowing in 
foreign currencies. In the Philip- 
pines, for example, interest on for- 
eign-currency deposits is exempt 
from the withholding taxes levied 
on local-currency deposits. 

Fiercely defending fixed ex- 
change rates creates similarly per- 
verse incentives. Mr. Sachs argues. 
In the case of Thailand and Malay- 
sia, the exchange rates were so 
stable for so long that borrowers 
assumed their governments would 
never leave them holding the bag 
under devaluation pressure. 

The inability of many developing 
countries to regulate banks and 
stock exchanges" in ways that en- 
courage productive foreign invest- 
ment while discouraging speculat- 
ive bubbles is leading many 
economists to reconsider certain 
kinds of restraints on international 
capital movements. 

Some countries have managed 
modest capital constraints that donot 
inhibit growth. In Chile, for example, 
foreigners are permitted to hold eas- 
ily redeemable bank deposits, but the 
interest they earn is taxed at a pu- 
nitive rate. Switzerland has at times 
barred its banks from paying any 
interest to foreigners. 

For others, though, a modest re- 
duction in capital mobility has be- 
come thinkable largely because the 
alternative is not. “Flai-oul capital 
controls are an imitation to cor- 
ruption and inefficiency.” Mr. 
Hormats of Goldman Sachs said. 


| Investor's Asia || 

Hong Kong 

Singapore 

Tokyo 

1 

Hang Seng 

Straits Times 

Nikkei 225 


16500 yi- 

- • 2150 

21:00 

1 

Xt\ 

2000Hw 

20000 

i 

1 

13500 

l- ISO n/ \ ' 

18500 * 

Yu. i 

12000 • • 

V i7oo 4* 

17000 

\ 

10500- •• 

Vu 1550 f- 

15500 


9000 J J’aTON ’ T4M, J J A SON 

140GC j j A 

SON 

1997 

1997 

1997 

1 

Exchange 

Index Thursday Prev. 

a a 1 


Cross 

cross 

Chang?: 


Hong Kong Hang Song 10,050.68 10.J54.36 -l.0s| 

Singapore StraKsTimes 1,641.03 “ 1 £80.97 ~-2 33 1 

Sydney AIT Ordinaries 2.435.7D 2,442.30 -0 27 j 

Tokyo “^NiKkel 225 1&30M9 15~842.4fT+2.9.?j 

Kuala Lumpur Composite 536.62 603.49 -I’l.osj 

Baii gfcok~ SET " 4 22.18 434. 37 -2 31 j 

Seoul Composite index 468.41 502.55 -2.S2 j 

Taipei Stock Market Index 7,693.29 ~ 7,705.40 -0.16 I 

Manila ~ PSE 1,872.75 1.87200 j 

Jakarta Compose Index 395.13 415.65 -4 70 i 

Wellington NZSE-40~ 2A49.26 2,367.45 ^077 j 

Bombay Sensitive Index 3,466.86 3.454.65 +0.35; 

Source: Telekurs Inu-nuir •ini I li-utj 1 1 iX. 

Very brief lys 

• Peregrine Investments Holdings LftL's group legal counsel 
said there would will be cutbacks in staff across Asia as the 
Hong Kong-based investment bank grapples with the con- 
sequences of banking crises and currency devaluations from 
Seoul to Singapore. Bui he gave no figures or timetable. 

• Hopewell Holdings Ltd.'s chairman. Gordon Wu. >jui he 
had yet to receive any notification that Bangkok had canceled 
Hopewell's road and rail project there. 

• Yuohun Department Store (HK) Lid. is closing its Hong 
Kong and Macau operations Friday. The unit of the maverick 
retailing company, whose Japanese arm. Yaohan Japan 
Corp., has already filed for bankruptcy, is seeking a li- 
quidation order from the High Court of Hong Kong. 

• Standard & Poor's Corp. cut its credit rating on Long 
Term Credit Bank of Japan Ltd. due to concern about the 
bank's vulnerability' f o deregulation and other financial mar- 
ket changes. 

• Matsushita Electric Industrial Co.’s first-half group 
pretax profit rose 34 percent, against the first half of last year, 
to 57.2 billion yen ($417.3 million) on cost-cutting anil the 
weakening of the yen. Sales rose S percent to a record 3.“ 
trillion yen. 

• Sega Enterprises Co.'s first-half group pretax profit fell 5 
percent to 1 2. 1 billion yen and net profit dropped 1 7 percent in 
5.0 billion yen as shipments of its Saturn home video-game 
consoles plunged 74 percent. 

• Japan Telecom Co.'s first-half net profit fell 35 percent to 
8.6 billion yen as the country's No. 3 long-distance provider 
cut rates to attract customers*. 

• NTT Mobile Communications Network Inc's fust -ha if net 
profit doubled to 42.9 billion yen on strong growth in cellular 
phone sales. The Japanese mobile phone operator, known a< 
NTT DoCoMo, said sales rose 57.3 percent to 599 billion veil. 

• Bayer AG plans to invest 4 billion Deutsche marks (S2.31 
billion) in Asia over the next 10 years, as the chemicals and 
drugs giant said the recent financial turmoil had had no effect 
on its expansion plans in the region. afp BLvmbtrg. /?,«»/,».* 


Tokyo Drops 
Postal Plan 

Agcnce Fruncc-Presse 

. TOKYO — Prime 
Minister Ryutaro Hashi- 
moto agreed with gov- 
erning party officials 
Thursday to drop plans to 
privatize the post office, 
the world’s biggest insti- 
tutional investor, reports 
said. 

Instead. Mr. Hashimo- 
to and Liberal Democrat- 
ic Party officials decided 
to set up a public cor- 
poration to lake over post 
office services. 

The backpedal] ng on 
partial privatization of 
the post office, once a 
pillar of the drive for bu- 
reaucratic reform, came 
amid opposition from his 
own party, its parliamen- 
tary allies and an asso- 
ciation of postmasters. 


China Moves to Reduce Debt Risk 


a*nr*M t? Otu Staff Fnm Dapanho 

BEIJING — China, shaken by the financial 
crisis dial has swept across Asia, said Thurs- 
day that it would move to reduce risk in the 
country's debt-laden financial system. 

President Jiang Zemin, Prime Minister Li 
Peng, Deputy Prune Minister Zhu Rongji and 
others decreed al a gathering of senior officials 
thar steps betaken to “ward off financial risk" 
and “improve the national financial order,” 
the Xinhua news agency reported. 

But the first mention in state media of the 
three-day conference that ended Wednesday 
gave no details of exactly how Beijing intended 
to prevent the Asian financial crisis — caused 
in part by high levels of debt in some countries 
— from spreading to China. The conclave had 
been expected to offer precise measures on 
how to strengthen controls over bank lending. 

The People’s Bank of China has estimated 
that 13 percent to 14 percent of outstanding 
bank loans are nonperfomung, with 2 percent 
to 3 percent nonrecoverable. The U.S. re- 
search organization DRi/McGraw Hill has 
said that 20 percent to 40 percent of the 


estimated $600 billion of Chinese banks’ 
loahs outstanding are nonperforming. 

£ome analysts had expected the conference 
to [discuss a possible restructuring of the 
People's Bank of China, the central bank, , 
along the lines of the U.S. Federal Reserve 
Board by eliminating the bottom layer of 
bureaucracy and consolidating its power at 
higher levels. Markets were anticipating a 
possible lowering of bank reserve require- 
ments. or a cut in interest rates, to stimulate a 
sluggish economy. 

Xinhua said Chinese leaders urged sreps to 
“Establish a financial system that meets the 
requirements of the development of a socialist 
market economy within three years.” 

r China musi significantly raise the op- 
erational and management levels of its fi- 
nancial sector, improve the national financial 
oi »er, ward off financial risks and increase i ts 
ability to prevent and counter financial risks." 
X nhua quoted officials as saying. “These 
slips must be taken to create die right con- 
ditions for further reforms, opening-up and 
mbderaization. ’ ’ f Reuters, AFP ) 


President of World Bank Offers 
Reassurance on Asian Markets 

Reuters 

BONN The president of the World Bank, James 

Wolfensohn. said Thursday that the crisis on Southeast Asia’s 
financial markets had been largely contained and was unlikely 
to spread oulside the region. 

“In recent days the situation has been under control. Mr. 
Wolfensohn said after meeting with a group of German 

bankers. . . , ... . 

But he added that a period of uncertainty was likely to 
follow such major market adjustments. He said he did expect 
a slowdown in regional economic growth. 

Mr Wolfensohn 's comments came as tbe voianiity that has 
swept’ the region pounded South Korea, with both the won and 
Seoul stocks sliding Thursday after the country s finance 
minister resigned. 

Mr. Wolfensohn said that rescue packages put together for 
Thailand and Indonesia by the International Monetary Fund, 
with World Bank backing, had helped stabilize die situation. 

Negative slock market reactions to the Asian crisis in 
Europe and the Americas had more to do with human nature 
i Kin financial logic. Mr. Wolfensohn said. 

- -Today 's markets are very closely linked, if not by finance, 
then by emotion.” he said, “'mat destabilizes people in terms 
of confidence.” 


The Power of Knowledge 

Knowledge of its market combined with 
creative financial ability makes 
Rabobank International your natural partner. 

Mxtonk i 



2 [(.2S(«, Fax (+31-3D 2)b 1 « * 


Raboten k 

International 



Socirle Anoaymc 


Registered Office: Luxembourg 
R.C. Luxembourg B-6734 


NOTICE TO SHAREHOLDERS 


iCjTICl 


J New Share Certificates 
and 

■ Payment of Interim Dividend 

An Interim Dividend ofUSS 0.85 per ordinary share and USJ 0.95 per 
preferred share will be paid for the curreni fiscal year. Such dividend 
will be payable ^Lining December 9. 1997. 

In view of the fact that the coupon sheets for the ordinary bearer 
shares have bear exhausted, the Company wilt issue to alt holders of 
bearer shares (both ordinary and preferred) new share certificates 
with coupon sheets attached. Starling December 9, 1997, these new 
bearer share certificates with coupon sheets (coupons no. 1 to 25) at- 
tached will be delivered by the paying agents listed below in exch ang e 
of the existing ordinary share certificates ino coupons left) and pre- 
ferred share certificates (coupons no. 19 and subsequent left). 

ConcurTemly. tlr Interim Dividend will be payable against surrender 
of coupon do. 1 of both new coupon sheets ai ihe offices of the paying 
agents, subject io the laws and regulations applicable in each country: 

- in Luxembourg Banque Internationale it Luxembourg; 

- in Italy: All die leading banks: 

- in Switzerland: Credit Suisse. Banca CoromcreraJe Italians (Suisse); 

- in France: Larurd Frcres & Cic.: 

- in the Federal Republic of Germany: Commerzbank; 

- in Greal Briiain: SBC Warburg and Lazard Brothers & Co.; 

- in ihe Netherlands: ABN-AMRO Bank: 

- in Belgium: Banque Bruxelles Lamtvrt. 

From January 9/1 9u8. only the new ccrtificaics will be of good delivery on 
the Luxembourg Slack Exchange 

• The Principal Paying Agent 
. Banque Internationale a Luxembourg 
,• Sociiiie Anonyme 




i 




IL 


Younever ■#■ 

PATEK PHILIPPE 

actually own a Patek Philippe. geneve 


You merely look after It for the next 


SlfcSfe I 


generation. The new men 


's Neptune. Self-winding, j > > 


’ ’ j 

hand crafted in iS carat solid gold. Begin your own tradition. ] 


Men’s Neptune: ref. 5081/1. For information Patek Philippe SA. PO Bo* 2654. 1211 Geneva 2. Switzerland. T e l : J41 22) B84 20 20 wiiiw pa«V eom j 


v 


i 

t 



PAGE 20 


Thursday’s 4 P.M. Close 


Nationwide prices not reflecting We trades elsewhere. 

The Assoaatoi Pass. 


.is worth 

High Low Stock 


I w ~ 

iiiriPiiiP 

bSlgHfelU 




.96 1.1 13 0570 85 


2®% A0W l.lef 30 17 311BlB>* 37», 38 ftaft 
MH llh Alpbama .18 8 .. ®40 22*? 32V, Bft _ 


if If 

33m iSi Aha 
7U 3W AraaxG 


_ - 1011 M t b% a*? 

.. 33 76MI» m« ISftalV* 

_ . 14 140/ n 32'- 32% ♦Vi* 

1.00 IJ 17 6356 7D-J 6®% mt aJM 

SO _ - 4325 2ftU 2SVi 2ft al? 

_ ..1576 Jftd3ft 3*. -% 


479*31 AmbOCf'S 3 » .0 14 11 17 -HA, JI 41»! »1>* 

26 191. AufcaApI 1st) 80 . 758 70 IBa* 19ft .1, 

W-J 47** AmHct .60 IX 79 1644 601. 5B'< 5®ft 

91% 364. AmOtlhoc - -14343 75't, 71 75 *7ft 

16!? 12 AmWl-Sl ... 1111117 154 14ft 15% aft 

8 '.* 3*1 AWevlwl .. - 374 51? 41. su 4V. 

40 23*. ABonkres M l.l 16 «a5»4W. 39% 40 r .T a% 

toft 39% AEP 240 4.9 16 5854 <H8% 48 48*. ♦** 

86V «h AmEip .90 1 1 3012354 7?ft 78 '1 7W, aft 
49U 33** AFndOp 1.00 27 7 434 273k 36*9 37% aft 

5AV.36M AGiflCn 1 40 26 M 4587 S31. SJ S3ft *1 

»j« lft AGnHasp IJll 62 17 918 27 TOU 77 ♦ % 

6*9 6 AGIP 42a 6X 122 6ft 6% 6% - 

361'. 21% AHltPr HO 82 14 368 75*- 25*1 35"* aV. 

24'ft7-P* AH11P pfB215 8.7 _ 143 24*9 74»» »*« .. 

84 s * 57 A Home 1.721 24 2320950 77 77 V 71ft* ft 

!I2»«I0K AmlntG % X 3 2311081 1043* HBft 104ft* |1 l 
23*7 IV. -lldPtr.il - - InSSrtS 33*i 25 a]'? 

9*. » S AMeAa - 74 155 8' . 8 8' , aft 

11*9 18V: AmMuTt .65 5.9 .. 134 11*1 11V* II*. aft 

11M 10*1 AmMuTJ J>2 S.6 .. 258 U*| 10ft ||lk fl) 

6*1 5*9 AOIF 47 69 _ 87 6U 6*9 6** -V 

26Vi 11*9 APodP - 16 730 14% 13ft 14ft -ft 

26 15*7 A Pine _ 20 774 23 jfc. 22 


— *9 25' i AmBoiSo 
TO-ftTS 1 . AmOcC p<213 82 
14'. S i APE'J 
16*i Iff. ARKlTn 
TB-i 12 ARnidSnc 


111.10*1 AScIPrnJl 
18% 14*. AStemgn 
51*1 34*4 AmSW 


20 274 22 Jj*. 22 

- 1106 49". 49*i 49>7 ♦*. 
.. 92 261k 26 26*9 aft 

3 165 9-V 9'k 9 l -*k 

. Ia8» 15* . 15 15V. ♦' « 

21 1034 111. 13V. 139. ♦*« 


1 1 1.10*1 ASelPorilOa 8.7 - 107 111. 11". 11% _ 


_ 4174 15'. 147k 15 
Sl*i 34*4 AmSto _ 33 ISIS 3>*k 39% 39% -*j 

28 |a>. AmSfts 36 IJ 2142471 20% |9>*. I9t*> -V. 

12' . I0*» AmSJP .9» 8.0 144 12ft 12 12 

12 ICJj AIUS1P2 .99 B5 . 115 111k 11"* lift-'* 

T 11.101; AmSIP3 .99 BA — 300 11*7 lli. Ill* ♦*. 

2*1 I'. AVJ* - 30 1103 1*7 It. IM _ 

76*. IK-’* AmlVIi .76 2-7 20 2707021'/. U 2Taalft 

3iV 11. Ameiori - 20 1703 98 36*. ZTmill 

27V. 20% Antonins 230 84 30 235 toft 255. MM ♦'V. 

I. t« AmeflgTc _ .. 688 *c % V» 

65'. 37*, Amei&E _ 34 827 644. 63 6J’/« ♦*. 

7.-1 54* > Aimtllcn 2.26 2.9 19 8376138 75 77 ♦! 

74*. ?1»J Antic n 24 IJJ 1* 157 Z3'9 73». 23V j. 

99 75*. Amota 2J0 30 17 BfiOO 94«V. 921 . 93*1 ♦!% 

59 1 .33 * y AMP IU 2.4 21 8233 43*. 42% 43 ♦*. 

56 .-20'. AraM .. 30 121S3>.SOi 5r.*lrt 

SHk 3I AmSc,uttl-.12*M3 20 1244 jO’l 52 S3'»*H. 

• 714 41’: AnMmipU17cl5 97 69M 67. «'» *2 
2S - « 13'. Amv*-SJF 12 6 13 270 22 31% 21% . 

49.i 21 ■ AmnvAs JH 40 13 SS3 21% 21*9 MW -*c 

30-« V'i AnmovJ 4lo X* 16 elo 11 10*. 107.6*. 

5*3’ . Anatto 10 A 41 1835 70'« 69'k 69ii _ 


.. - 1835 TO'i 69M . _ 

3b«.; 0'4 Anakws . 3112W31 27*. SP. +1W 

21 N'l AngS <K, 47 .. 212 20*t I9>1. HJ’.J 

48% j-’: Anfesr. 1 04 24 19 Hkfl 44M 43*. J4 1 - *1. 

19". 12 AmxJer _ M 868 10*. I7*i 17*1 ♦*< 

2F- 13’j AwToyl . 28 4258 1-T< 14«t 14A.+*. 

I3‘> *<J>4 Aimdrn - .. mv H lov, in»/» -v» 

58'. 37 . Am 2ps 104 7 0 47 1765 53% 5S". 52«*. -k. 

45*. JO'. ApotlK- .*3 7 21 4031 3H*» 37'. 37-’k 

-a, 23- Aplliw I £5 S3 33 617 35’. J4’i I4 K . 

10'. •;■ Aptr «. 41 . J»5 10' ■ 10' a Id". 

34“ .1.1 ApMIidl s 431 I ' 21 253 ^ 78 2B’» ♦! 

*0'.: 16 AoplfAq . S 5HU 18*. 17'- 18 -t ♦% 

OS’? 35 > AridP-6 12 ^ 21 787 611 61'- 6l'V -*♦ 

T0'»12’i Ann . .. 391116*7 15*. 16*9 ♦% 

59* , 32 i Ajjlor 32 J. 23 333 S7 fc » 5*». 56*. •% 

79ntfjl, Aqiwm l tit 55 14 I70a*«i. 29*. 29’k ♦>. 

16': 9.. 4,118,], J OS .4 IJ 189 13 12"i 13 ♦'-. 

22*. 14 Anciurs 171 11 . 215 IS'-s 15. 15V* _ 

11' « 6'* ArtMiPr 70 !>S- 38 961 10>. 10 - 10'. +V9 

19*1 6% ’.MJOijFn - . 1560 8% 8- * 89. ■*. 


31% 21% 

% 21*9 7V’-» 

10*. 107. V*. 

% 69'9 691* _ 

27* . 30*»*l*k 


34“ .1.1 Apldiidls 437 I 
*0'.: I* AopPAd 
68 1 ? 35' . ApIdP-j 12 
20* k I2*i Api« 


28 JB’k *1 
17'- IS'-. ♦% 
61'- 61'1 -*» 


22*. 14 An,;ni:s mil 
11' i. 6'* ArtMiPr 70 6^ 

19* i 6% '.MJOijFn 

j 0'7 23-. AKhCoOl ,4s. I ’ 

24* >16. iFJiDcn SI. “ 

32*i 23 4ra.7nPH 1 oO 51 
37 I9*t Arii’ni-irl Cw 56 
25% 24 AlCr”: HA 155 7 B 
16* ■ 10t^A«g»fi:Fa J3 b 2.7 
6*» 3% Anreo 
75‘‘ 41': Am .71 1.76 2X, 

32 -24% ArowEIs 
41* k 21 ATJ"! V>1 22 
34'. 24' -voice 50 32 
IS ’i 8': AsTBu'r -t- 43 __ ... 

55 39'. Ashland 110 2.3 17H27S47': 46*. 


I - . 1560 8% B*. ff>» -*» 

.46 I ’ 21 7130 27%. 77', 27*1 -V. 

as. “ 1311174 22 2* u .:in»-». 

160 51 22 V3I 30% OT-a »>i _ 

Ow 56 101 79'; 29' . 39*. ♦*: 

1 93 7B .. 8V4 *S'a 24-a2S'< ♦*. 

J3f 2.7 .. 288 12’. 11% 17% **« 

- 17 7746 S'* ♦ S'*. 5% ... 

l.?6 :A 15 424 60-'! 67<« 67''. 

. 19 2471 301. JYM 29' 7 ♦*• 


*01 2J IS Alb 36' 


35'-. »’« 
74% 241. 
8’: B-. 


IJ*I Ti, AHOPC 94c 1 1 3 . 

17' i 9’o AuaPIp 05a ■ 

51 ■ 1 71 A-joSal .'Or •> 
ll«i b-’i A5ta7>31 CUt- i - 

O’] J-i Asrllitv >4 1 

74% 21 Al-JE'.Ml 1 5. 0.2 1 
69' .41-. AvcFCip 40 A . 

JOi.lJ-i Avliai : Hell 


.. 1757 S' 1 7t» 8 

II 4*14 11% 10% UTk -*. 
. 151 TPl 71 1 21'* ■% 

- 12S« ■*« /•-. 7% - 

1 iOl 1*. 3". TVV. _ 

1* S4S 3? 1 * 27" • ■' . 

I £00 65*. 64* ■ 64*. »>( 
2bl2 I « 17 » 17*. ♦% 
164 lb* a 16% 16' i ♦’» 


1 -..ra- ; i-c 1 1 .61.- I,.. *-i 

19% l3 r vA'.lraA - Hi- I 2 lt4|6"*16% 16' i ♦’» 

22% rj'.-.AIJiiil 12 150 l e ’i 1*% I9 « **l 

IS - lo AIIErrj IJU 12 1C59.1 •" . !9'« !»■. 

76% 24% AtlCdprl 7CJ 7V i«6 2S’ - TS^mTS'-m j « 
37 . t:> . SVil%:i> , 2 1£ 11 If SO* V SI* * 82% ♦'*» 


SO 1 |9’> Aftav’-r 
r-,*77 A TAW* : Oil 3 
el-% 25 . nlidtJis 


*? SSO’ V SI* * 82% ♦'*» 
:o iibi ;7% 2b ?r i-V » 
53 4tS T*'! 76 2r.*>lt. 
63 669 M 51% S3'- *2': 


I!. V Airva 
17' 1 10'. -0H1F1I 
•& 33‘ ■ Ay-.'*'* 
33 21'-; AtE.r.B 

57' ■ 19% AatoOl 
J2' *n ■■ Aut tacn.? 


JiKtw; 1 -j* 5 j _ 1C7 if. u. 


He 1 3 . :n ig< . 101 1 lov ♦% 

CS J :65jr« IT’S: I7>., -1. 

44 1 1 . 184? 40'. 59% J3-b ♦•'l 

Vii 5 * Sll 2*': Ik'i 36l» * l * 

53 9 1? »70i S7' 56.: 56 r >. 

23 4634 ?8‘» .Tl •'•» 


31*» !£- 4:ain.>;5:r 5 l 2? 485 39> 1 30' e 33-»*'al 


21 1 % Avoid: 

44'. 25* j AV'.-r>0 . 
IT* 0% Aral I 
51% 2: . Avr.r 
■* 2 " : SVi Avral 
7a 60»i Aiun 
8 .• ft A.-AT 
74** »-„A« 
7!'. I? BA Vlth 
33 - DEIST Cp 
I? * 27 KE?'* 


Avoid: . - IIS t'4 1': r»»'« 

AVt-rvO . JUf 2.1 71 C,Q4ff*.«’i 40’. *». 

Await . 12 275b 13': 13% 13’. - 

Avil r - 740ui 14 . 34" . ♦ J . 

Avral tf> 9 15 792 47% iU’T 6T'i*2'* 

AV1.11 I |i. !2 2319QS5 ST",. 56* • S5'i*2' . 
A'J . II VIS 7. 7 7! 1 *'-i 

Alt.V OH 5 13 577 1 S''-: 1 7*; ir« 

BA .Vith it . J-e IS-.- 16' * 16'- ■■« 

DEIST Cp 1.74 2J 70 tji 54% S4' 1 54 "1 *•% 


[7 B£6 <1 6 IJ* . . 1012 11 30"'. 5D-i 

7% EEAlnco ■? S J - 541 Si S’. 8*. ■'« 
C. BE ASM 9-3 Si _ WW% 10 10% ♦% 


10 10% *1* 

6 1 5% P-ECGp . 2’ 1*4 o Fi 6 

■W-. 33 . EVJ j - 3711621 7B 7S . 75% -*o 

fj- 15 . BJSc 1 155 51 «% 49% 

3.r * ?o H5-. .’.H n _ . nj* 79' 1 28% 28 A. ‘1 

35 t '7 tb 3 1231719 IS-' 3 I7>. pni 

:-i iJ'.BNVpIS 1.95 *5 . 67V 2* 25 -9 »'%»*% 

jv is aC2AJSli'? 16 . 5019 13 37'* 32’4 -*• 

ic . .c -PP01 lovii ’ 11 «na ir- : i;»* ir-i >« 

JV-.Tl'-k tPE (3S4.7 12 401 «7": 3% J91k»l' * 

«3 Vi -AT OK _ 21 15 s 10*! Iff. Iff* -% 

.T IH , 87; A’, v . IS 737 J1M P . 20 ■ .*1 

21 • It . Ht*:F 2 77CI57 :si- 1B'» 1B«.| 18*. - 

37 . Ea.it j 46 1 J3 2275074 44% 43 64a.Pi 

51 1 71 - RaWir SB 13 21 230 30 ' n 79% p% ■"* 

72 • 27% BaD ad 1 6 70 120S«» . 57% 38*. *’« 

r.- If Carat* .Id 4 37 132124 23'- 73 : ♦': 

74-. 74% tfcn-2.fr l.v4 54 19 IvaOUV' . 2ff . 2V -.* 1 ’. 

>*' ’• l 1 '. Banco. i* 1^.7 78 2TI538? 55 54’* SJ". *’» 

r.% 2b Prati vr b. .'A 76 I4J07V** 28"i 79% * I'u 

72 . lo 1 EvoiJ'li/ ; . j.-t? Ifl 31 3d 1 : 29 30% »7 * 

G 4 ?! F-rearm 6>r 7.2 12 1716 T7 2SS. 76 r ...|*i 

42'-. 74* I nJdnadto > TliJ 3 _ 91 40 P 40 *1 

>7% IS% 6-JrcAtr IJ7t it . 3S3 77 21% 77 ♦*« 


ff-’PfJflw 

:? ip 1 Bsi', •, 


7i • nawir 
27% Bao 
it’ Carat* 


b’JrCAtr ' — ( it . 

Hslntn *61 AJ II 
cdiPloPn - .. 
ac- aHOi .z.o 73 _ 


111 4t'-> 40*! 41'-] +1 

62SI IF. 111. 12’a ♦*. 
1471 IJ IJ'. IT'* * \ 
1140 5 4% 5 •*** 
1 825 16-1 Ib% 1*% ■% 


32' . I,’% CtaScrt*. 531 27 3U7 2»6« ^% ♦!' 


37 1 H% I'ancte 


13 454 25' • 24’.1 24 i 


14% 4.1 r-ondflj llff IS I3i 4.t. J*". 49 •« . 
SI . 04% Ha.-iJnAlim U U 2*4 42 47'-> 4T’i « 


1C 4 % ConcH IP] . 17 5 

W- 35- 31. 25 1* 517 54 

70 ■ II - PHlS.C 0:0 i . 1953 I4’i 13 
Sr. 31% BIN* I DC 2l> Tjlino £1 ■?* 

81 : 46". RjUlAn: I" 16 !8l<a;23 ’6 “ 

25 ' >24 ’’.V-n ptt I 9J 7S 10bk7> 


49% sr *1% 

T. 75% .U. 

341. 7b 


16’ _ i% SIAflAv 131 1.0 12 3487 13:* !3»<» 1^*4 - 

9|% «? > 7 PC 7 J l* bins* - 84’-. Ob’i -3*« 

»33 i 74 PurtTi ATO 34 IS 4«5 M'.*- Ill : 1IR% H i 

11% b% PtnrApr 73 ID ®% ®’k +v* 

39 75 c Saul ^ ?3 22 1S50 79- c ?**■ * ** 

37% 17 « BcmNH v 18 40S0 f 5 '- 2* ; i 2B'a*l r -i 

3P‘i (U * Ecmnuj'. »r 2£> 14 l.» 759*7511 2S‘i *"■ 

w*» 5 : < uani.-n i ?4 i ’ :4 «406 7 r‘j 1% 71*3 »r* 

46% 24’- 1 Bcn.-tlRv . 33 1PI 3JM 12% 37‘** UV 

30% 17% BOirasr. .164 
I4*« * . uonvPr. 

s>. 4% eon*.’! ns 


30: 17% Bairair. ,lb« I ..14405 18% 17 1 • Iff * *** 

I4»i 9. uanvPr. . is 11% 11% IP* ♦» 

S'. 4% eoil'.’l 115 9 .1047b 5% 4 r .* 5*4 

S3' 1 4A 1 1 HaTJf ?l 3 ZZ } 0 U3 Ob- TdO* 46% -*« 

4T> 3?' IVjV-AhL 104 !A 31 2771 40*6 39% 4ffl 6*1 

00% 39% Lac,. 7 I 161 7 4 8014410 fl-t 47% 49*1 .H* 

411% 31%. 1VJ|AbI 1 .637 4.J 33 534 29% 3®»» 39*. *'•* 

il l 15'8 ba.HThk - 111*6 J9 . 25 20'* »'t 

»%:5%BafDCs I £ J 5 5 IS 110 79% 25% 35 4 •« 
46' « 79’ ■ BcatnPl 200 4i 75 3771 44"'a 44'. 44’’’* -*B 

46' a 23% BcarSI 60b 1 4 9 1333 43 .42% 47»a .*« 

26' * 25' I U'OTS pIBl ®7 7 7 ej 25’ ! M*a ?5«a ■*» 

S2’.JS Bdklnv » 1 6 14 nn 39V* 38': 38% ... 

5S’-. 37 rcelCM' S3 10 71' Sldi 51-f 49% 51*9t2!-» 

72* .14*! llrdlidP I 201 62 14 549 19' * 19% |9V. ■»* 


75% 8" » Batten n 
79*! 18', ttMCO 
39 % 29% Arldm 
X5% 19% er€DH«rf 


- 194 IJ* 12' a IT* ■** 
. 16 141 21 '■ 71** 7Hk -% 
.20 6 IS 054 33>! 37% 33*a *'■ 
_ 10 58(9 341*23 1 77'.»i*« 


03% 56 . HdlAII 309 ZA 29156S4 87< * 85"* Wl -% 

20 H i Benimsv . IJ » 16 -j 16’ • ■** 

54'i 36% Hel'So 1.44 »1706 ObS4'i M»* M% >% 

51% 33% BruAH 44 9 78 RlSSO’i 49% 49% .% 

47-* *33.. Bcnsi JO 1.9 71 B»7 41% 40*i 41'.* -*« 

3)'- 17% hdncJlE 5 74 99 28 36% 28 « 1% 

82% 59% BcnetCp 2-31 2.9 15 »W 79- • 77% 7B«!»I » 

r*. < i* BiHqfB JIS *o 'a 

7 7% 1?’« BcnlanOG . 19 7853 16- 15% 16 .** 

79 I3>« HtfCEIV - 78 498 74% 73t- M'5 <■% 

45‘. 20% AcfuB*'- 49 I I 28^J'*4l'a 44% 

SJ0Q1223! Bert Ha 6 AS 433H'2 4MCM J6100 *J95 

I2'a V . Be*Pf» 53 83 . 1371 II-. IT* 11 hi *VW 

7|li 17% Ben*.' All 2.1 I® 30b 19% Iff-: 18% r.« 

ar. ;% 3i-JEuv . 4a ’9 79V-: tb% y* * ■* 

43% 22 BRlBH 3 25 7J 214 43% 47*a43 i o^t'! 
SS’vTJH UPHtfA . 39 858 52% 57% 5?'* 

17% ?% FvmSH 3820 10% IlPl 10-9 ' 4 

?l 54% BdtDcartJ liJO 5 75 1413 61% «!»*• fll'l - 


! INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


AV 


1 TVi 12% B9w* 

26, 16M BtqHower 


p E lOOsH^h LowLoInt Otpe 


V “2 SSS* To 9ft 9ft -ft 

15 lift ATMaPn IT* I* “ 122 .S? ^1 6*4 +1% 

Bi sSffi Si - 1® 

WH 14 nmn W U 14V* 14V> +V* 

aft 95 i-S K « «« Wft 1B»» 19V* ♦%* 

ffiS.-WI"' 3.25.1-9 _ 90U2TV* 2SJ/* «V» _ 


3)ft 2ift flttKp 
»ft 8ft BIkl«« 

iC.ij m 

ma mss 

'a|. 7ft B&Sfr 

34ft‘ii M IteSi 

A3KKSA 


- 19 4094 17V, 

’ * 59 352 235. 

XB J 18 1S4 3Dft 
_. 26 638 30 
UO It 30 645 15ft 
M U 17 1115 37ft 
1X2 46 14 188 31V* 
JO U - 829 9ft 
.40 4J _ 120 9ft 
JO 47 ^ 1901 8ft 
86 54 _ 195 1A>1 
56 &1 - 2163 7 
J90 SJ - 2S2 lift 


19ft 16v* 19V* *4* 


19ft HA-An* 1 ™‘ . - «U2TV* K4i J5V* _ 

t ®JS 9S |a + i5 

Sft TOHAftllBeiM i3 1?S 24ft 24ft _ 

iSE ffi? aSiy* 1 '- 7 " 7 ? i| an 731, 22*. on ■**. 

iSft 9% - 131052® 170 ft ns-’, |i 9 «%. 4 \* 

w - fEI^S. n ,*. - - 3M IJ% 13ft 14ft +ft 

55S9SJ AO 6® 4b% 4S»» 45ft -IV* 

ASA.LM J6 53 .. iiwn»«w,» — - 


US 24ft _ 

T. 22*4 J>. 

% 1 190% »4V*I 


s' m 2RF if iff m as 

39ft m! AWf 94 ^ Wrv^iwy* 52ft 54V*Hft 
Sftfflft AxilftoxSJ 18 19 2S28 lv 4 37ft 38ft ♦** 

iSw-SfllSfiEts 

S?nS gS ^ rS.,. 1 -” 1J aisnoi 66% b4<s«es*« +v* 

« SSS _ .. 53 37B491iV| 33V, Tift *Vk 


ffllk 3Sft BtouniA 571 1.1 17 236 Sl»* 
lift 8 BtooOO) 2JJ9o!BJ - 358 10ft 
19ft 9VT BAio5fl _ 11 825 10 

5ft 2ft Blueqmn _ 26 ,487 4V* 

29ft 20ft Births _ 26 7579 lift 

60ft 43 Boeings Jt 1.1 BS3TA9 50ft 

459* 28ft BoteC M TJ - 5982 2S** 

Kft 15ft BooCOfl _ 22 »03 10<V* 

9 3ft Bombay - _ 1469 5V* 

12ft 8ft Border 83e 93 17 758 «fti B»* 

30 16ft Bwdnss - 35 2l8i 29U 

61ft A/P* BargWAu 40 13 1] 6418 48ft 47ft 

19ft 10ft BorWSc . S 31< 18ft 17V* 

17ft 8 Bast Beer _ S 86S ID 915 

33V*24ft BeUEd 180 56 10 W’&p.i 3Jft 
34% 24fti BSPrp n-44p - _ 557 34ft 34'/* 

78**41 Bostsc _ 47 8441 53ft 52** .. - - 

3Sft 16ft BodTedi _ 24 152 34** lift 74V, -ft 

29ft lift Bouras I7B _ _ 741 24ft 23’, At 

57 3514 Boratr M 1.8 48 3144 45ft 45' a 45'** -V* 


SB 63 „ 1511 9U 
JO IJ 49 659 34ft 
BO I V 71 7W6 il% 
571 1.1 17 236 51** 


21 lift awS^? 5 - - S3 3384rtivv 33ft 34ft +ft 

32 sS eJSSia ■* - j- 747 1?% 12ft 17n/. 

»*a 17 sSJS? - 31 3,43 ?/i * 2P-* 79ft »V, 
Mft 191. 421?? , 43 12S6 m 18V* 18'1'a aft 

ml iSLSffil* , ' 968 8 4 - ,638 23ft 23 23T* *W 

g? 'syM g , - -.23476 271k* 21 JJlil'v, 

nC. ii* L -'2 -5 >S 106 Tf, 27ft Hft ♦*» 

SJfJL. gists - 91 199 23ft* 27ft 27% -*• 

■JJ* w wmcal **. 11 I $6 9tt giVi 9'vf T C 

Uft ^ iSSL liJe 22 1857 85ft 04ft 85 *»« 

57(2 -mi - 24 257 9S • 8>t* 8ft -ft 

Si? $g°y£ *~-g? i* 16 269* Sift 50ft 51** +1 

.in? ^ *^nacpr 133 BJ8 .. 115 26% 36ft 26ft tl« 

in?* . 59 Ifl a 4305 78ft 77ft 77b* .ft 


57 3514 Bnmifr iB IJ 48 2144 45*1 
21ft 12ft BotHtfln _ _ 223 13ft 

9M 5 BoyOGm _ .. TOO 7*>* 

37ft TO BoykeO. 1J0 7.0 ._ 285 25ft 
Tie* 16ft BtodRfc 132 63 17 1089 21 
1*** 10ft Bndmanjfle 2 3 _ 9611 13ft 
Z5M 16ft Bnarims 53a 73 _ 3bd 24ft 
254*12 Braab n JQe 2J » 696 16ft 
32ft 17ftr.Br^| 136s 67 .. 1538 Tift 
18ft 9ft BrSlEF .020 3 . CS ll'C* 


32ft 17*V*BroZH 136s 67 .. 1538 Tift 
IBft 9ft BrSlEF .020 3 . CS lift 

28ft 17 BredTch 71J „ _ 18970 IS*. 

53ft 39U BrtgSlrat 1.12 27 23 4192 41 

19 *0ft Brirtter .. 17 5ioa 14ft 

39ft 17ft BtWHSS _ 34 362 26ft 

94ft 53ft BtMv50£lJ2 US 3025458 94ft 
12Sft 91 Brlifflr 3.17a 34 18 250 94 

93 64ft BrtjPel J2J50 3 0 22 7225 90 

31 1* 21 ft Biiren ZOte B.1 4 2002 25»* 


1 J 1 _ 5 b 4 Iff*'* lOft 10 % _ 
li 16 6300 60U S94-* bOft ♦% 
17 25 140 7b*n 25ft* Sbl* . V* 
IX 20 2b2t 7Aft 75ft* Tb'V aft 


Wipe pa IX 20 2b7l 76ft 75ft* »'*i ‘ft 

25?* ?l Akfri 30 5 24 IP4 46ft 65 651'* +■* 

- 40 3163 ISV* 14a* Uft.+V. 

gfJ?? 1 ’ - 4316136 39S* 38ft* M^V+Vb 

- 10 8924 36% 34V* 25% UT* 

IS aSS? 1 P l ' 7 15 388 I4i * 93 *Vb 24ft *1 

25* IS* g *«nq p Ja l j is j94 a 239* 25 ♦»* 

2S^;A£wto* .20 X 23 696 affk* 30'.* a»* aft 

£J* ISJ ^Q»* S JO 2 II M 261. 25ft 26 a'4 

vZZ*2fP *! bart ^ 64 1.7 20 3836 38ft 37% 3Ti -ft 

WftOT* Ajean u 11 K £No 2811 77ft» ai> aft 

S^- iSS. 3*b 1 4 „ 7238 24ft 24** 7iV. aV, 

b -S3® >-8 - 6l7,»V 29 XT* all* 

AMnTnrUJ? 7.5 „ 267 13% 13ft 13** -'/* 

4Mnr >■« mu tbs 29w jav* aft 
4?.- ?K? 64 7 j u 6236 26% Kft 26 *4» 

S 1 * l 9511 $f*9tann! .40 13 15 6223 ll«i 30% 30’k aft 

» If, AjenTei „ 20 578 71 ft 71 ft 21ft 

5*»Kk Afcnn 57 15 20 2610 35*a 33% 14»aa<k* 

i?" StfS'* 33 -"’ “ 30V* Wi J0% aV* 

&*•**, Atotii 157c 73 28 1714 3S'.T 344* 35ft aft 

17*4 13% ABMU 1.53 9.7 _ 388 15ft ISft ISft aft 

H lift ABWW2 I JTO103 .. 2013 139* 13ft I7>,aft 

« JOft AflTch _ 19 1767 S9 5T* 58 aft 

93ft 77 AlKdGps.Ta IJ IS DM) 43V* 42i, 42ft -ft 

Sft 38 AMlrtsh lASe X5 14 607 57ft S3 53^'»*A*. 

77 ISft ABedPdS .16 X IS 051 251* 2SV, 251* <V, 

5X* ilV* S ,J 191427b 38ft 37V* 3T-« aft 

4?h 29ft AtorFfl JO 4 16 651 49ft 4T-* 47*» aft 


30M t8Vk BHP 276e XI 11 463 18M 18b* IBft a% 

lift 2 Brooke 30 33 .. 602 9ft 9V* 9ft .v* 

ISft HR* BumSh _ _ 20 IX Iff.* din 10 % 

54ft 42 BnmFB 1.08 11 21 391 52ft 51*’*52ftalft 

20ft 14ft BnmGp TiU ij IS 556 16H. 16 lb 

38ft 24ft BnmFf .767 11 26 7221 3*ft 3Sft 3b’* ♦ W 

36 27ft Bn FAC 2X8 75 „ 106 34ft 33** 34ft a** 

37 23 BorwV SO 13 23 1728 34ft, 33V* 34A*a%* 

26A*16ft Bnhftl J8f 2J> 16 386 73ft 23V* 239* a*. 

52 71% airlmn _. _ 003 50V* 48V* 50*k >2% 


485* Spa 4ft| 

83** 84ft alftl 


R» CtfnRya M - - M6 Oft 


32ft 32** al* 
\04,V1V«>), 
39«* 3?"'*a«» 


SW Sggn, ,3? A ? a& r 

T US gar 08 3 19 3bO? ST'ffiS '&r 5S 
»52l9ft C l«f 95 10 irao Kft" aii 


77ft Sift < 

s*^; 


iSSrlltt B8r?c 

IDO Kft* HaSa-H 
»2 1£* 18ft lajk ♦•* 
7K7 23ft* 23ft 231* -V* 

W28 77»t Aft 76ft ♦«.* 
821 42*1 41ft 42% aft 

is 4 _“ 


naris u s j 

\ 

3S,i‘liS 1 

NC 96 5.7 18 1 
Cp JO J 13 IS 

LAm as X 20 3 


77V, 25 ClBPBXS 7.14 8 3 .. 97 76V* 2Sft* 26 al. 

521*33% CnoTcdl 132 28 11 253 481, 46-v«4Via«k* 

331* 25ft CcrrAmP 1J5 5X 2S 1/03 30 29'l* 30 aft 

25 ft 24ft. CarT.ApfB2.l4 8X „ 205 2f , 24ft 24«** _ 

54ft. 24ft Conipf _ 22 924 52% 51% 51% X, 

B % 12% CortlHU .16 1 J 29 529 lb% 16 16-, _ 

1* 13ft CastdcCp JOa 2J 10 J96 17ft 17 IP**l* 

17H'*15% CnscHG 96 5.7 18 111 17 16** !»«*•*• 

72 Or *48% CmaCp JO J 13 3.S45 641* *2 W 63'* -A’* 

’2b .ftffi 1 * ^ » B'&ts'Rtt 

22 *1% Calekn “ ^8 10ft 1?T* Hi. T, * 

61 ft 3b% Cateips IJ» 21 1119601 47H 46% 8»«”. 

13% »i CaratrH .12 IJ 8 JS4 96-* 9’, ®% •». 

28% IP» CedarFS 1JB *J 18 1152 27% 27 27 -ft 

321*77 CmhpPr 1.68 SJ 24 639 B*» 32 32!* *’» 

24ft 24ft CeidPpUU 12 Bi _ 103 24’* 24" * ?4’**v.* 

32ft I4*s CenhOi 281 .9 13 98 31 ft 30** 30*. -1* 

66 33% Cental JO 3 16 942 64*. W*» Mfti .% 

7»t! 18 CmfaWjH.74 7X 20 4«4 C“* 22** 22% al* 
26% 15*, CenlEor 305c T _ 3S5 16ft 16% 16'.?.*, 

TSVt 26 CHCCptB 236 85 _ 354 77* . 27** 77*4 

77 79% CenHird 2.14 S.9 12 1133 3b'? Mi 3*«* .. 

28’« 24% ConLAEI 154 5X 13 30b 27" » T> 27’**’.* 

13“ *10 CefAPw .90 65 16 556 IIP, 131. 13% vl, 
76', 40% CWiws M 1 2 24 1102 69% 67% 6flW-, 

63 23-ft CcnIPk fl9 .2 58 113 5bft SSI. SS" . 


63 23ft CcnIPk 

ft i* CnTmRI _ _ _ _ _ 

111, IWl CVtPS M 65 8 367 I3>, 13*« 13 * .. 

73** 17*, CcnblS J4 1.1 8 86 21*. TP. 7H* * 

60% 35% CmlBk LOT 18 20 213 60 59ft S9-k aft 

46% 28!? CnlyTl 37 5 14 1379 44A* 43c* J4ftair, 

'TIW Enrawwi ~ 18 1M0 4*ft Oft 43'. aft 

23% 13% CtataE - 13 835 19ft 19<* 19ft '. 

66ft 41% Chmpln JO J _ 3592 55*V» 55ft 55!, .1, 

26'.* 10', Charts 301 13 18 2bl 23** 73 73'* 4>: 


S«i ft* ft % 

367 Hft 13*, 13’ . .. 

86 21** 71'* 71 V* -'* 


- 10 1 28 73*b 22c* 27ft 

2.2 1320296 H3*k 111’. 112*, -. 

76’, 25ft One pIM 2-10 02 _ PITS’, 25V. 25% ■'« 

24’*74*k Chseftijl 2fl3 78 „ 2fO 25** 76'- _ 

3Vft J2‘* OnteouC 1 71 5.7 32 S9T X' . Mft 31. . a>. 

?’•. *? Chau', _ .. 277 ** ft ** _ 

JS% 9A| QtetXnfd .fll I 79 943 l6»-« la 16 J. 

4?': 31 CMCCA 257 6.7 72 118 37ft TT*. 37-: ♦'* 

ST: 31 Chaacd 2.121 SJ 14 780 411, flj,... J|i* r . ; 

7S*, JO'k ChemFstn JO IX 2 1115 26’* 26% 75-* -’* 

36% .V, CTni* 80 2J 42 308 33'-. 33 D*m.- 

J4'i b' aChesEnq 1 J38 .9 ..9236 9% 8'>« 8'-, a' , 

89* *60% Up™ 133 28 W 8113 84'.* 82ft 23-. a V 

TOft IS OWcB&ln 74 15 _ 486 16% IS'-'* 16 

J7'r 19'? ChdeFd 1.120 IS _ 471 20'* 20'* 20 , »ft 

38', 27>, OutofeU 7>e 19 _ llffl Z7>, Z7 77'*-'* 

30ft 19ft CkOaenw IJ90 50 _ 138 259*25'? 75ft ■ 
191, lift ChinaFd 08a X _ 129 13ft 13ft 13 'b ♦ 1 * 

33% J41* ChraTkn .. _ 994 34'* 34'., 14' . .% 

IBft 12% Owsita JO IJ _ 1504 169* 16’,* 16’. -'.* 

8>> 4'kQAFvn - W SIS 7ft 1'* 7'. -'■« 

18' , 16' ■ CtaceHn - . 785 !7ft 17’* IT*? _ 

40ft 30% Utaqslil . _ 537 38ft 38 381* _ 

55 38>: ChiKCr 1JB . 18 727 50% 49ft SO', a', 

38‘. ?Bft Otrrlr 1A0 49 815364 33% 37ft 32ft al. 

76k«Slft ChuW> 1.16 IJ 16 4440 AP*68Aa 70ft alft 
Eft Mft ChrDwl 48 IX 23 91 29*« 29ft J9i, 

48ft 22 CIBER - 54 211 47** 41% 43ft aft 

43'. 35“> GVeip 2-46 SJ 19 106 41ft 42ft C, aft 

33% Tff.aCmSsBs « 1.4 19 5311 » 2*1, 27% ■ IV* 

79', 1 7ft CSiAUt J8 IX 16 1522 Tt 79% a> . 


79 , ir, CSlAU J8 IX 16 1527 296= 79 J9% a> . 

7** 1% GncOd _ _ _ 8229 IV* dl'» 1>» ■’« 

35ft 31*1 CMmiy 180 SJ 1710845 35 V 34U '«* 

27 12* : ClrfXarn _ _ 407 I3»« 124* |J% *1, 

4Sft 28* « OreCIKC .14 J 2512832 34V. Eft Eft -IS, 

EH 71 GlCVS „ .. 20 K52B E’: JT**22 , i aft 

1451*97*1 CDKorp 210 1.7 1824198 12TI* I2ik? 12» alft 
100 ', 91 Crlcp pf 680 61 _ 237 99n* 99' . 99' * .' * 

27 25 CJ*qj pfE 2.00 7B _ 49S ISO* 2Sft 25ft 

2r»2Sft GkBDflt I 94 7J _ 3930 Taftv 76%= 26a-n * *i 

121, Ti GftllSl 751 _ _ 9977 10 4 9'? 10% at* 

5.’ 47 GUUIjrf 2X0 52 _ 86 flft 4a'., 48ft all? 

Eft 1® Cfr/HC JJ IJ 20 5*6 31, JI', * 

24 ll'a CkHrm5li .17 S 71 974 n*-*3®.5 ♦>„ 

Iia«20 aarar M3 U 17 87 29% a', 2® 

l®ft tT'iOayMs 86 5 16 3012 16% 16 lb* * ■' * 

71 Wft OwjiC _ _ 1200 67\ } 67ft 671* .. , 

47ft 4JI OrtH 130 10 9 SC 431* 421* 424a a': 

82 JOft C&H'.Drj _ 26 5393 66 67’i 63ft aft 

77>*48*« Oora*T IJ8 1.7 31 2060 □’7', 76 77ft a°-. 
35’. * J4V? CoochUS - 23 314 28% 281* 78% % 

30ft 15ft GxKhnwn JO IX 14 J65 19»* 19'* |»% a'. 


61% 33H Cams* _ _ 21 7611 60*1 60 60ft .1, 

6S'-*43’i Coaikd JO .7 18 3490 aZ% 6lft al 'T aft 

4% '■ GrilPhn _ .. 498 li* lft 1ft _ 

3Q' k ®% Coastal - 13 275 14% 14*. 14*. -' . 

72*V 46 -, Cocua J6 .9 39-W609 631* 62*1 43>*a|!. 
31ft lift ComCE* .10 J 59 2425 »*• Ml. 30% aft 

59% JJft CCFctnsa J70 S 49 148S SOik 49 J9u, •]>, 

18*5 .1* .Coouf _ _ 947 ®*« 86. 9<*a<* 

|9X 17% Cons' pi 14911 J . 507 IU* 17% 12®* ft 


is*, J",Conir - 

1®A 17% Cons' pi 14911 J 


45ft 28 Coantan 17 J 27 739® 43ft 42ft 43' '»6 a 

19, ‘V {SJ* CofimST .960 SJ .. HU IB'-* la'ks 18% a'.* 

■E% 73% CalofWI _ _ 692 35% 34*. 356* a '. 

19ft lift CCenm _ . _ 2423 13ft 17ft IT * aka 

78" *43'. CotoPolS I 10 1.7 7818253 66" . 64'. 65°-- «?. 
124 5% CaCVik - 3 215 96* 9i* 9»« a'-* 

31 Iff? CdBass JO 70 17 733 30', 29'? 30 aft 

8"% T. ColHIn J5 fcS _ 741 BV. B'i 0- l 

11% IQlaCollidln .940 07 .. 264 10ft ID’* HP* a'% 
7b* 7ft Calf HI J8a 88 „ 291 7H 71, 7"* 

lift 9 « CoOnvG XI SX _ I/S 10»« *0'? Iff* 

8 l * (r , Col Mo — - - _ _ _ 


15? Jrt* 71* 7»* 


lift 26% CcbsiPT 3JB 7J 18 1428 19 28% M**.». 

741 ,17 CoUec. „ _ 17 66S 23 n% 72'l» _ 

CnjunGaslOO 14 15 1314 5'? 71*-* ,-|% ♦-* 
44ft 25% CdHCA « 3 141199s Eft 7® "ft Ml* aft 

71 18ft CondK', TO 7 19 171? 29V? 19- , J9i* .ft 

MV, 24*1 Coned pfT U7 R3 _ ao 2S*% 25’* 25". a", 

83 'l SO'. ComwK 1./2 11 22 1736081'. W 83% alft 


VP* 15 CenWISn .. . 

41V, J6ft CmcBNJ JO 20 17 


478 16ft 16', 16% .1, 
91 40-.* 39ft 40',* 4*. 


51% 79% pKFdlf 331 7 16 376 MU'* JB% g> .ft 

19% ®». Cmirek J4 10 13 220 1B% lrn-n |g», 

32% Eft CsirJMn 52 VX 13 135 VE 33ft >v> 

I66.131. CsidNL 110 74 13 JU 16% lbv, li'. -V* 

Ml? IB ft ComES 158 U 14 fll 2H% 2Ha* _ 

19 io*i Cambcqpn - _ 47ot 11% 10% lO'*, :« 

37'V lift CmpUSA __ - M SOM 36"V*3S1’*35'v* x* 
W*78>k COi^nqB 831 .„ 31 Wed 66'* 64!* oeftalft 
70ft Iff? CmoflAoa - 21 12B 161. la 1 . I6''*a>* 

18% 9 CempCm _ _ _ Is/ 9>v* 9% 

811*17% Gurmtar TO 1 MIlTTl 7T» 341* 75%. •!% 
861? sr, Coo»5d _ TS 5225 M 18 78% al% 

49ft 16*1 CliioTskt OS i ti 523 29“-*29% JO- a'* 

10 leftCmphTn JM J.I _ 4881 3=n 3'* 3"-« a% 
25% 16ft Coman JO J _ 77b 13".-i 22% 23ft » I 

m? 6ft CmbBiRs . 13 4468 151* 14 15 -1 

23 21 1-» CnCmcTB 1X4 73 ...IB T2% 22*. 77% aft 
36t M>* C4n%ni A3 IJ 27110a»ilft 35% ]&k*a|i. 
®ft 7 Coooflu 725 8ft BV, BV| .ft 

25% 21 CoraiEn 1JC 5 J 14 423915% 25 25 *bt'* 

SO * 76% Comets* 50 IJ 19 710b 48«i 47k* 47% *A. 
37 24ftiConsepfT2TO 8.7 _ 188 26% 26 26** aft 

45 21ft CoOgor _ 21 1139 37ft 31 1 37ft -ft 

36-1 27 CmS 110 SX 13 STM 357ft 36ft 37»*ai-, 

TV 1 23% CanE«31 1.94 7X — 88 2Sf H 2S>: ZS'-a *i« 

54>-*lW. CouCMIS - 46 151 50% 48T, -la, 
601 *47H Comic 1.94 U 19 SOI I DdKV* »v* 6ff. al 

Mft- 47ft CooPpp 1X8 11 TO 230 54*'* S3?'* 53 i* -ft 

201*14 CnmPtfiUS - 19 117 19k* 19% 101* 

48% 23 OsTi*Tl _ 40 5489 49ft 4'i 48'-l -ft 

7% lft CCDma ^ - B64 5 4ft 4<v* a ft 

S', 1*1 CD DOTH L . _ . 139 3*1 3V, 3% .1, 

28", 25 CnEpfl 208 7? . 328 Mft 76ft. J* 

40ft 74V. corthnncl . 10 1772 77"* 26 v* 774’. alt, 

47’. HlkOMeB - 1 270> 44 Oft 44 .2 

J6-.. 15ft CBHRM JO X 8 S86 33%. 31ft 32 al* 

K 50 Converse - 28 357 7** 7>* f.. 

17% 9 Cooker 071 .7 13 107 9% 9*» 9% *ft 

81% 30% CoopCa* .. 6517Q95 63V? 61% 47l*a|ft 
4l>« I4U CocpCo . . 20 1368 40% 39ft Mft a?* 

S9°’*38ft Cooper 1J2 2x 14 4551 51". 49W, 5ff? a** 


NYSE 


OhrYUPE lOOsHigb LOwUrtsJ Qfgc 


i: Month 
HI9I1 Low 


«v» .. 

8*1 at* 

1SB% -U 
6ft _ 
MU _ 
10ft +'., 
12ft V* 
B», -ft 
10% -V% 
15ft aft 
109% - 

8 ft - 1 % 
9V* _ 
Mft aft 

41V. all? 
51% tft 
10A* _ 

10 aVW 

4ft -ft 
74 aft 
49 r V, -V* 
KVn-Uft 
181. _ 
5ft ft 
8»* .*» 
U 79% .ft 
ft 47ft -«*■. 
■V, 18** aft 
ft 9(i all 
ft 33V« ♦*» 
V* 34V, aft 
9* 53ft -A* 


25ft 14'% Coopcf99 Jl 4,1 
»‘% 18 Coopt Tr .381 1.7 
|9V« Ek COpdn 
5ft 1% coramH 
fflft 46ft CoreStF 3O0f 2X 
23ft* 19% cemPpan I.71e7 4 
191,14 OrPqjTn 120a x7 
17ft 1M. Corn (hi n 1X0 SJ 
100v*S7ft CfltnD pi 300 4j 
Mil, 33 C«Ttmq|riJ2b 1.7 
Mft 13ft CarpH? 15310.3 
I3*%l2ft CpRYIl 1J810J 
45*, »ft ermpetep 
43U 20>k CodBus 
3P 34ft cmCrd 3? 9 
33% 22% Cnr-aPr IJ4 4 1 
25 14ft Comnoen „ 
Eft IB COCrn 
Eft 16 CARaki 
47% 77V? crone i 50 12 
74!. 14V, Crmfcps J2s 73 
•ft 71ft CiKREslSIf 41 
soft 32 erosion 1.16 22 
18ft lift cnbnUAa i.ao «J 
41 77ft CflknlpfBZ72 81 
27ft 17% crmnkm iKm 3 
28'i«14% CrmTbrs J3 .9 
9V* 7ft CirniAm SO BA 
59% J3*» UnCaik 100 2.2 
55ft 43 Cwntri pfixs 43 
16 8ft CwnCr .12 .7 
77 20V, CdmPac 2.15 86 
52v, 31 CuInFr 1J0 1.9 

50" *33 CuIgnWtr 
221,13ft Ci* Inc .14 J 
83 43ft CUfliEng 110 18 
■84*10% CvpSnn 
761.1®'. Cypnrs XO 43 
soi *33% cyiec 


iHjgh LxwLrfHtOre* 

18ft 19ft alft 
21ft 73 V, -ft 
12®, 13“:all% 
4ft 4ft aV% 
78ft 781, aU 
23'/* 23V* -ft 
17ft 17ft 
11»% 11V,*V% 
68ft 69% alft 

42 ? 43ft alft 
14ft 14ft aha 
13ft 131? aft 
31 n atv. 
Eft 3SH -ft 
3»ft 4Cftt2ft 
29% Mft aft 
1», 13ft *■'% 
33 33ft +4% 
33 33ft -fti 
42% 47ft -ft 
179% 18 *1% 
369% 371A V, 
508% 51ft alft 
14V* 145’, aft 
33ft 3]ft - 
24ft 2411 
Eft 74ft aV, 
9ft 9ft a V, 
46ft 46ft — 
43ft 44 

lift 16ft aft 

24ft 24<ft+ft 
Sift 52ft aft 
40ft 44W t3ft 
19 19ft aft 
61ft 61ft aft 
lift 12W. aft 
819ft 19ft -M 
45ft 46ft aft 


tXvYUPE HfcHkpi Lowusori Orge [ 


'■ » 45- , -V* 
ft 13ft -ft 
ft 7-% -ft 
251, tV* 
20ft aft 
13ft aft 
24ft -% 

16 4% 

20*1 -ft, 

lift ■«* 
IB'aaln 
50ft al? 
14ft aft 
25ft aft 
94 V, ,1 
92V. -lft 
88ft aft 
23% aV* 
7Sft aV* 
% aft 


_ . _. _ 003 50>V, 48 V, SQlk f2' j 

44ft 2514 Buck Tedl _ 1« 473 (CW 43ft 4Sfta|Ss 

32 11 Rocttei _ 25 944,Sft 3iiv 33'/.. lft 

37% 15V) BoOpefGp ~ 35 411 36V* 35% 35ft aft 

74% 14ft {kjenavnl.lS* .9 . 728 17®% 17% 17ft aft 

70 9vt Butcoafs m .1 16 1030 19V? 18ft 181% -ft 

15ft 10V, Bwllnds _ _ 16 1783 15 14*, IS aV, 

lOOW^Ow BulNSf I JO U 16 4624 931% 92V, 93!% a V* 

54ft TOM BURK J5 1J 17 6373 4 4ft 47;*a5, 

10 6M BuriRsCI .76e 9 X S 594 74a 7% 7rs, t i% 
15ft 1TM BomPP 1 JO 6.9 27 261 14*% 14V, 14ft V* 

3SW,24ft BusftBA „ 18 275 20K. 2B 38 V i aV* 

49ft 24ft QU3 Tdl .11 J 16 332 43*. 43ft 43«% aft 

49ft 7 415 CANTV .I4p _ _ 3113 41 39 39ft -■', 

la CBCoM _. 17 189 33V, 33V, 33V* -ft 

27ft 22ft CBLA3C 1.77 7 X 15 181 23ft 23*', 231* _ 

38 28 CCAPnsR JSO .. _ 3599 3S<V, 3S% 35ft 

96**61% CCBFn 188 1.9 21 291098 950* 97ft a Jft 

43% 27ft CD! _ 21 1181 429, 41% 42ft aft 

700% 1»% CIGNA 332 Jj) 11 I37D llffft 166 1«9% «4>. 

9V? 8ft CIGft JIP IX - 713 9% 91% 9V* .i* 

391? 33V? CIPSCO 2.17 SJ 18 475 39% 38*% TO aft 
Eft 29*»CITGon - _ 5705 3IW. 29*. 301, 4k 
05ft 18ft CKE RsJ S JB J 40 10B6 38% Eft 77 f. 4. 
36 23 CL&Ppf 2J2 9J) _ 91 25ft aft K<V, 4* 

58U Eft CMACImr .12 J 18 1493 5E. 51ft 5E,aA% 
6ft 31k CMICp 04 J 25 228 5>V* 5W 5 V* U 
Sft lft CMLGp _ _ 5142 3ft 31* j*a *'4 

28*, 30ft CMS Eng I JO 12 is E9I 37V? TO 37% ♦*% 
25ft 17*k CMS G IJ4 5J - 697 22ft TO 22ft a*% 
132% 96ft CNAFn _ 9 184 11M 1224*123 a',. 

16ft 8ft CNASure - _ 282 U»a 144% 14ft a*. 
441%30M| CNB BcStl .921 2J 18 238 41ft 41ft 41ft ♦*% 
so-!? 20*4 CNF Tran 40 .9 21 1-09 44t.,43*% 44>V-«a|ft 
103-? 75 CPC IJO IX 37 1938 llll*, 1011? Hd.al •« 
28 15V, CPI X6 11 18 1389 18?% ITU 18 aft 

26 TJft CPLCep pf 2W 7X _ 115 25% 251% 

62>»4I% CSX 1TO< 2J 14 3440 54ft 53% 54*% aft 
36V? TOM CTGReslJMf 4J IS 17S 23ft 33ft 739, t'/H 
111ft 38V, CTS .73 J 17 1B8 96% 9S*% 350', + ;% 
32Vk 19ft CUC Inti _ 7118515 291, 28ft TOhaai, 
>4 11% C V RE1 116 9X II IDS 13 I2U 129. . 

6Sft 39 CVS Core 44 J _ 3419,16% 64ft 65 1- aft 

Eft 21% Cobnwra x«e 2X _ 467 3ift 3b 26ft -ft 

47% 16ft CoMDsgn - 23 1101 40ft 319. 40'.! all 
46ft iyt-.CaMra - TO 9082 27ft 26ft 279, at'.* 

29% 71ft Cabal JO IJ 20 1230 26ft 25ft »*, aft 

2S**l5ftCMOG .16 J 24 1 773 21°/, 21 21V, .. 

3C**24ft CndScOpI 116 00 _ 191 26V. 26>*« 26*, a*r 

S ft 30ft CndbyS TJOe 10 IJ S3 8 ifl 41M 42»i aft, 

% 13ft CadotKBV _ 37 5778 27 251. 2ai,4l<4 


28ft 13ft Codoncnv _ 37 5778 27 251. 2bi*a1ft 

25ft 27‘V.CcdFOH'fl , _ 230 23ft Z2V. 22%, ->% 

42 28ft CaJeoeray __ _ 17 2476 32% TO ? 32*, al* 

IS 10% Cdw TO 18 TO 971 lift 101.11V, a?* 

43 26ft CdltotT JJJOf 50 22 1217 39V, yy, t TO"-.aV» 

61 B-.18ft Cdtoet JO X _ 3647 soft, 481? SO*. .2': 
38'? 26ft CoHGoH J8 .9 17 24J4 37ft 32 321. a'? 

22A%12ft CnJpine _ 11 808 15ft 14") 146* a’-* 

B2ft 38 Cameo JO J 37 401 T 641,62 63 a2% 

31ft 26ft CondnP 1 96 60 32 10ft9,J2»* S 32«*ai. 

lft ViCmpRg _ _ 2392 ** V? '? _ 

55! ,39ft CnrnpSfli .71 IJ 28 «674 5SA, S3ft 54% al'i 

IV* TOM DBCgn 1.20 _ _ lOBiSft Eft 311* ♦% 
6ft 33ft CdnRyg .92 _ * 286 53ft 52ft 531, ♦=*% 

l£g?£»2|ax - # s? SSo R-3: 

99% 301? CopOne JJ .7 19 29*3 474, 46i* 471k a’, 
2ft 38ft CapRe _J8 S 13 EO 57V. SbU 56i* a*. 


Mv* Hi. DfiTQnlv 
l»% V.DDLEIC 
26'- 25 DU Co (82.11 81 
25ft 22ft OPL IJ6 5.3 
34 26 V? DOE U? 4J 

17% 9 DP Horlon .08 J 
J9»i 24% D5T Sy* 

33ft 7bV DTE 2J6 6J 
21 lOT, DVIlIK 
87 ft 63' '. DBeni A4o .9 
Ti ft 9% Da ' Ti- 
SI 71'. Dal Son 14 J 
IS', lift Dmtrt .12 in 
Ml 30 DonaCp 1 JOG 23 
40v.1V Dana hat .10 j 
7J 6,111? oanM is i n 
12 6% Darden 08 .7 

37i.l3ft DakiOn 
4ft U OM 
tf’Aaas'k Daylftud 72f IJ) 
32“% 19 Davrv ? 

53 25% DeraiFd XO 16 

Sft Bft DWG I XO 6 9 
11 ®'V»Defc1S«n1.lll0.4 
60!? 39’., DeOT XO IX 
47ft 1 8ft DeUbCuV 14 J 
19 15 ft DetoGp 1X0 8J 

18ft 15 DEGpGSj 1X0 8J 
Tffl.lbft DeffnPL 1X4 7.4 
45ft 27 DNpliFn 
44ft 20ft DerlPito S .161 4 

109ft tfi'i DcdaAlr JO 3 
UU 13 CWtoFn 
AS ft 29% DHIru> (.48 42 
E% 16!, DcplSb 

38% 26ft DcpGIy? XO 2.1 
Mft I," Dcpur -Up _ 
IBM Sft DdSlqnH _ 
15 9% Dessauern _ 

25% 72'* D4E26 1.91 7x 
25 16*, DnitTd 353 IX 

41% 32', DoelDf 7X2 6J 
42 a% Oo*Jn .9* 2.4 
33'? 25 DfcraPd J8 1.7 
19<V*IE. DMI 32 1.7 
671? 26-1 OtaOO? s 071 .1 
SOft 28 CUebald? XO 1.1 
S3i,2S Daid 
761*741? Dwfalpl 222 8X 
44% 18 DOanls .lb A 
26% 14 DtnaQcp 16a .7 
26% |9% Dtnvjn X8 1 28 
SO 1 : 23% Dora _ 

26ft 12ft DscAuf 
91ft 66ft DfalWV X3 X 
19 14V* Dnl&Stv n 

47ft 30ft Do*' JO X 

38 •'*17% Dal DIG? 16 J 

20i. 11“- QjaMln n ._ 
42ft 17% Dorrs rack 
Eft E% DomR« 258 6.7 
25% 18V: DmfcBW X14dl3X 
10 6% Danrtarg .14 _ 

55ft 2"% Dmdrtm 36 X 
781*32' i DonU XO 3 
17% B'. DKdron 
xm w? Dank? XO JJ 

73ft 47”! DotrOr .761 1.1 


- 278 28(4 27ft 271? -ft 

- 138 ft <V* ft _ 
_ 107 26% 26 26ft -ft 

15 ITTOriSft 2S*% 25®, aV, 
13 509 37V. Eft 32 +ft 
IB 60J,1|V* 179% 17ft +*% 

34 376 TOft TO 27V* +M 
17 37il 32ft 317% Eft +h 

21 125 189% 18V, 189,46% 
776 69V? 68% 69V* a 9% 

- 204 12V. lift. 17V* -U 
76 49fl 50ft 48V% 50ftal9% 

13 402 12ft 111"* lift -V% 

U 1146 47% 46’?% 46V* 4% 
24 591 60ft 59?, 59 V* -V, 
55 740 ISft 18 18111 **>% 

- 3554 II 109. 11 a% 

14 3200 18ft 17ft ISft +V* 
11 569 3 2ft 2ft, -ft 
2412119970% 69V, 09V? a®, 

35 7M 27V* TOft 76% -ft 
27 1058 50ft 491% 50 aft 

- 1622 u8*% 89* 8%%*y, 
_ 1137 10V* 109% 10ft al% 

16 6784 53ft 53ft £»% al% 

48 781 381? 37ft 38% tft 
-. 98 18ft 1BV, 18V* -ftt 

- 99 18ft IBft 18% -Ka 
13 1 407 ,rv% 204% 201% aft 

11 132 419% 41V* 47 v* -fts 
.. 1514 38% 37ft* 37ft* - 
9 6286 I Mft 104M 106fta39% 

- 1692 16% 15ft 16% aft 

- 1347 2SV. 344, 3Sft aU 

17 425 30% M 30V. aft 

18 850 38% 37% 38% t*% 

22 106 27% 26V, 27% aft* 

10 1357 8ft Bft* lft* aft 
_ 148 lift 10% 11V, aV, 
-. 277 25ft 24ft 25 +V* 

_ 498 Mft TOft, 20 

20 442 409* TO 1 ?* 40 4% 

17 409 4ffVa «V» 40ft aV, 

19 872 27% 279% 27V, “4% 

23 5545 199* 19 19ft (-V, 

491E77 56% S4», 55V* +2 
27 I486 461? 45 ft 4fift,aV% 
38 9134 49% 48V* 49 a4% 

_ 191»Jkrt 2b 26 

17 6494 38 37ft 3B aft 
1« 7014 24% 23% ZB? -ft 
13 148 3491 34% 749% aft 

- 97 33 32 TOft -ft 

J5 170 20V* 19V, 19W, -V* 
3223078,91ft 90 V? 90ft 4? 
.. 2021 lift 1741 18ft a% 

19 2X»«4V/* 46ft 47t?4lt% 

42 5491 TUB »>, TOft rift 
_ 87 18 17ft 17ft 4ft 

- «93 40ft TOft 39ft -1ft 
>9 3332 389% XV* 33ft aft 

- 548 23ft 22% 23V, aV, 

_ 155 ;«% 7V* r.% - 

23 747 47% 46ft 46ft -ft 

12 702 72% 701, 71 aV, 

- M70 TOM 111? lift -V% 
■n 1528 36ft 35V, 36 a>V* 

20 1332 689, 679% 67ft aV, 


7BV*l!ft FoeCp 
46% 1] ForCmi 
43%%15ft MoiSfS 
16 12% FmcorPfl .14 .9 

30 lift FamOrs J2 1.1 
52% 36ft FaiMMra J4 lx 
lift 5V, Forotv - 

32V? 19% FannFH 
27ft 24% FtraGpUin 8.1 
Aft 5ft Faddan M l J 
Aft 4ft FeddenA .08 1.4 
84% 40ft Fed Exp 

smBfriiJU 
ssaS ear 

42ft 33% FtSCor 139 6X 
24% 20% F ranXg? 2X0 8X 
40 28 h»ra J2I 1.9 

18% 12% Hat X9r AO 
10 6ft fiat pi JOr 18 
22% 11 RViArt.1 
15% SM FAEmAs J28 43 
9% 4V, FA Korea 
2SA%llft FkWFft 28fe 1.1 
34%%I3% FteJH 
77ft 24 fifcHoid S9e 2.1 

47V, 30ft F5A J3 .9 

25V,24*WFSA2«7b 1J4 73 
23V? 11% fingarM .16 JI 
48V? 30ft FtaONI S6 1.2 
5SV%]6H HreMm 5 1 40 2J 
68V? Eft FAFne XOf U 

RSP 1 EM & K 

13% lift FCmwF .99g 7.9 
46ft TOft FtfData M 3 
26 13M FHnFd 1454 14.7 

37ft JAM FsftnftT 2X2 5X 
is®, lift Fiun ij4a ®j 
26% 25% RMDpf 1.97 7X 
16% 7%%RPfea 1X0* Mx 
29% 16ft FSRopSk 
53 J5V? FslUCs lj» 2X 
Ibft 9Vi Rlnta M 2.9 
49V*3Dft FrVoflkSl.12r Z3 

S ft Eft FW>bHT 1.9S 7J 
ft 21% F?lFed 
38V, 24 Ftrotas JU 23 
35ft J2M FtokFR .48 IX 
26ft 19% FMEim 
51% 35ft FcJirSt? X0 J 
7Wb«ft Reolfne 1.967 19 
29V? lift FHFncwl 
37% 24ft FteefEr X8 12 
20ft ISft Ftenro sit S 
17ft 9% Ret FIT X9e 6J 
34V. 26% StBId 1 J7r 4J 
53% 25 RalEor iXdr 3J 
24ft. 14ft FtelP® XU 23 
32ft TO H-PoSh 
34ft 27% HoProg 110 XO 
Eft 13% fioweni ASt 12 
360%E% Bownarv S6 53 

M 20 Rufcf J JS IJ 
75% TOft Fluor 36 11 
21 7% Faodmfc 

50% 30 FortM ”iXI 3.9 

19ft TOM FCMicE Jle IJ 

17ft 12% f cria65i _ 

1ST. 14 Rtftar 1X4a 
47ft 27% RJomra XO 1-5 
9M 8 FartsSc 36 U 
38 30% Farhjne6r£4f 23 
4BM 30ft FosJVWi J4 11 

S3R Esm : 

12V? 9ft Franco Me 8 X 

Mft TOft FrancoTn 

lav, 9V, Frit PI) 

10ft 8ft FrkMuf 37a 73 
9V* 8 FftPr 54 5.9 
HD%*42% FmkRsi J6 J 
10 Bft FffeUmr XOa SJ 
33ft 15 FMorars 
42ft 16ft FreOMaci JO IX 
TOft IJ FMCG A .90 4J 
Mft ZPVMFMCGpM US 13 

afcB&BSrSSli! 

W'Sri&t 

18% 8+bFMRP IX4,15J 
49ft 36ft FkHIrt 40 1 3 
32% » FresartM 
18 TOM FDetMid r _ 

EM i5Vg Frorncp X7 3X 
39% 18ft FrWrba 1 js IJ 
44M 24V* FfuHL 
121 89% FundAm XO .7 

33% 18% Fuqua En 
lift TO Funwnlb 
439* 191? Furan 34 .6 


64 36* 25V* 24»* 25V, aft. 
36 2607 *g% 44ft 44% alft 

- 92TO 33% 329* 2ft alM 
18 1079 15ft 15ft 15V? -ft, 
XI 2E3 »V* TOft TO*"* aft 
1911879 52ft 51% 51V* aft 

- 180 5ft 56* SVU -V* 

666 J9K?, 29 m* .fe 
1A5 26V* 2SM% 26V* aV* 
14 564 5ft. PM, XM. -V* 
14 461 5ft 5ft $9% _ 
VT'^T® MlftAlV* 64V. .JH 
« na 45V* 44V6 46ft M 
H 2ST. 25’V» tV, 

M 1370 2SV, 241? 24ft -ft 
21 4960 47% 474% 47ft aV* 
Of 544 TO 384% 36V*+%t 

I ST % T S 

II 266 V9-V, 199* TOM ♦% 

- 212 

_ B89 4ft d 3% 4ft -V* 
H 1788 g9% T4V, 75M+19. 

9 2D77 28% 27% TON* _ 

14 1«4SM 43V* 45V*t2M 

in KV. Kh. 25ft. aV-. 

18 37B1 22 21 31ft -M 

19 488 45% 44ft, 4596 .aH 
16 9iB57n>*56% 571% aft, 
13 116 61% 61% 619* aV* 
23 963 24ft 23ft 24% ah 

15 6TW 73 V, 72«i 73% aft 
-13? TOT* 1W% TOM _ 
2822683 79 V? 7KV* W? aft 

- 893 23ft 23% 23ft aV* 
E 1558 34ft 34% 34ft.a9h 

- 235 1EV, 13V? 13ft 

_ 161 26Hr 26 J6 - 
_ 632 8ft 8ft. 89* -V* 

16 534 271? 26ft 271? aM 
1437181 49% 49V, 49ft, aft, 
M 1693 15ft lift MW* _ 
19 60B 481? 47V4 47% a% 
35 1TO ZSft 24% 2Sft -aft 
3. 395 37V* TOM 37*% A* 
19 ZtiJ 37ft 349* 37ft tV* 

11 125 32ft 33ft 32ft aft 
_ 5548026V? 2bV. 26% “X? 
28 IE 47M 47V* 47V% -9* 
1514519 67%* 66 67V? al% 

- 268 27% 26 27V* 4 (V, 

13 886 31V* 30% Eft aft 
M 1239 1691 16% 169* aft, 
— 21710 9V? d 9ft* 99* -ft 
_ 2780 29T? 29% 29^* iV* 

- 5006 44%, 44ft 44% lft 

_ 109 UV*dM 14 ,!•% 


Hiatt'S* Stock DnrVUPE KttWga LdwLdVkI Orgej i^LM SW* Dir 9 M P£ l ^ t *0 n U? * Lg>C ^ 

KSJ& si B ^p xzri® » b* nffl" - s i£ £ h. % & 


56**43% HSBGCP 


„ ii 33 15% 14% 14% An 57 »i LBtoa , M 1SB SOt g* S u * 

XO 9 343TOK 56% S4% S4«* *19, 57A*38ft IPC® ® A « slXl 93»* 5,^ 

- 16 2338 34M 29 34®krSA* 113“* 78% LotMWM 1 » *3 75 , * 

.409 2X 21 155 141* Iff, 14% -% EM 23% Lpewan .Ifc .7 « »9B 4^ IQa 10E 

1.16 8.1 _ 106 14V* (4V% 14V* aV* 115ft 85V? Lag* _»«! * JV 18-? > 7ij 15. * 


63U 2SM HaSbtnS XO 9 3430365 56% 54% 54** *19, 

40ft 15 HombQu __ - 16 2338 34!* » 3n*rSA* 

14% aft HtncFa* 40T 18 21 155 141* Iff, 14% -% 

14% 11% HanHPMI.ld Al _ 106 1fi-» 14V* 14V* aV* 

10 B% Hon PI DM .70 7J _ 356 9V* 99* W* -M 

11% 10ft HonPIDvi .90 7X „ *200 lift 1H? 119* a>* 

1SV*13» HW1P1MI 1 J4 BJ . 494 15% 15V* 1SV, »V, 
to% 27% HmcBT J5e X _ IBBSoOft 47ft 48V* a 1*, 
lift* 6t» HoncBTwl^ . - 119*12% lift 12M +V* 
lb»*14ftHmrs 130 1 A _ ?7 169* 16a* 16V* aV* 

9ft Sft Handtol ..32 367 «4 61', 6% 

28V* 13ft HoidH J4 IX 9 VB8 TO?» J3ft 23V? _ 

30 19% Hm AS» IX 18 1156 2SV* 25 25 aV*. 

41ft 309? Haora X4 1 J 21 607 39V? W, W( aU 

26 20V*HmwCft „ - 150 E% E9* EM afk 

27 22 Homan ^ JU IX IS 523 24M 24ft 24V* -ft, 

56% 42ft , HoicGn F 39 IJ * «0 54V* 53 TOM +Tj 

TO 18V? Hrwtnd M IJ 21 SB 21V* 209* TOM aft 

Eft 16% HcrtevD s .14 X 22 31X6 2HV* 27ft 27»* -V* 

57V, 32V? borman JO A 16 M 52v? S2V* _ 

50 35V, Hanrish. JO 1.1 14 40B9 38V* 3614 38 +7W 


61% 34ft UtfWnd 3° * ij M. §} X T 5'- 
S9V.15M uSSUTdl - ™ ffi? ,3,. "5"* 76 * 

«» 2* .iS 4 to MV* ■>_ 


s saris:* isr^s g^gM-'-gsirigs 
■“ “ ’i ’B T T T" * SS !5S B ffiy ■& S gj SS Si 

Jpf IJ - 690 54V* 53 5JM al ?0M 44% toWBl .40 A -“Hi MS Tro? 17?* * 


23V* IE? Harrow 


wm 44% mean r*.- .n, 17a* *"• 

^ iSo » lfl f *1* 

ffiiKtfi »£i liaSSS.»rf; 


! 20% 201? 20V? 


MglWi 

_ TO 3335 TOJV* TOM 33ft V4 
L9 B 21 689 42 Vb 42W 425? a* 
'.1 - 924 28?? 28ft 28rt**V« 
50 - 100 28V? 28 Z8M 
J .. 128 16ft 16ft 16>9* iM 
- _ 551 17% 17?* 1 7ft* air* 
3 - X85 15% 15V* 15V* -U 


25ft 13% MIMS _ 33 172} 24% V/h TAHn a?* 
20% 17ft Hffftm 1JB 7X 17 3289 T9V* 18^*19 

nse HyM Mgb%sa:»ist*i& 
fa, 5 : ^ 2 itn m ^ 

20 12ft Heffig 48 2.1 la 1476 131? ,3ft 13M _ 

SIM 35% Hei? 1 J6I ZS 51 4877 50ft. 49A% 50 a** 

78ft 26 H68Fnpr2JB 7X .. TOT Wtfa TO 27V. aM 

91M411? HfltaP XI .7 22 4035 78V) 75** 77ft .26* 

541? 37% Hopih 1.00 2.1 14 4911 481? 47V. A aft 

251? 19M CttPpneZOO BJ _ Ml Til? 23** gj* -V, 

60ft 42ft fcrVK-T X8f IJ 30 4993HXM 5*M 595? Jf* 
TOft 27ft (ortrn JO i . E4 37V* 3ffV*37V*a>?. 
77M*48ft InbloltPk 32 5 :T 41071 63 60ft 63 alM 
32ft 15ft RS»1 _ ._ 375 26ft 25% 2S-V* -V* 

Sft 2ft Hilo _ _ 354 2*V* 3ft 2M -V* 

19V* lift HJbem J61 2J5 18 BM 18ft 171? I7«9* aft 

6ft 5% Hlhncn XOn 9.7 - 8T9 6% Aft 6V* _ 

61k Aft Hindi XM 9.7 .. 721 69* 6ft 6ft _ 

7ft 6M HKnllf .720 9X _ 162 7ft 7V* 7V* -9* 

irv.lIM HI IncoOp 1.12 9X — xl 707 lift 12V* 12®* a®* 
8ft 7% HIVHI* .73 9.1 _ 234 8 74* 7«*afti 

9V? Bft WYOPI X4 &X .. 120 9ft 9»a 9ft _ 

27w»17ft fOgntos - - 49609% TOft 27M aft 

36 29 HUMHlP Z04 S3 22 ISIS 3ffV* 34ft 34M aV* 

2SV* 24 HUT* pro 2« 8.0 _ 2® 249* 24ft 24M a(* 

19ft 1291 HifeRoq X2 3J 19 TO4 18% 18% 18ft aV* 


36 29 HWmxIP 104 S3 22 ISIS 34V* 34ft 34ft aV, 

2S»* 24 Hkjr* pro 2M 8.0 _ 2® 244% 24% 24M a(* 

19ft 12% HtoRoq X2 3J 19 TO* 18% 18% 18ft aV* 

48ft TOfk Jffcabd X6 IX 20 67? 44 43 43M aV* 

7% 2ft HfbSin _ - _ 516 3ft* 3ft TV* -V* 

TOft*24 man 2 1.; 31 #I1MXM 31« - 

5% 23 \4kn pfpza 68 „ 307 299) 29V* 79ft -14 

117ft 70 HPtociir .93* IJ 19 440 73ft 71ft 72M a1% 

45<V*37ft*Ho«tlSlnX2e 2J IS 2829 38 d 37 37% -3ft 

14ft SM HdOinv JO 30 13 IS5 13ft 13ft TOft -9* 

58V* EM fob&n? JO J 37257M 57V, 56% SbV* +9* 


_ 3836 36ft 35ft 369* aft 

- 816 SIMM Eft EV* 44 

_ I6« 30M 29ft 29ftMa%4 
_ IE 33V* 32ft* 33V* VT4 

- 232 11V* 11V* ltv%aX4 
_ 811 37ft* 37ft 37ft aV% 

15 352 26ft* 26% 269) -*% 

12 226 22V? 22 77V, alft 

25 127 14V* 14V* 149* aVi 
_ 306,19V? 10ft 109* aft 

- 9ft 99* 9W V 
27 2220 94V* 92ft 93ft -li 

- 261 99* 9ft 9ft -A 

76 5894 319. 301? 30ft 

23 9161 Eft 41V* 41?* -ft, 

16 909 EM ZT 21V* 4* 

- 96 24ft 24ft 24ft - 

_ ba »% S aw -ft 

- 8381 32ft, 22V* 229* _ 

- TAB 34% TOM TO* ■*? 
_ 202 3% TO* 3% al? 

ifiSP P^^a^ 

36 5666 MV* 23V* 23M aV, 
1410992 249* 229* TOft al 
15 3861 MM 249* 24ft aV* 

77 14619% 119V*119V» 

20 110 31 30ft 30M r% 
15 1338 Wft TO TO W 
20 117 37ft* 37% 37% -rt| 


WAS IT THOSE HEADY 

VANILLA-SCENTED DAYS IN TAHITI? 
OR JUST SOME STRANGE MAGIC IN 
THE WOODWORK OF RAFFLES HOTEL? 

Either way, when Signor Gambicioi and his bride-to-be ended their 
world tour in Singapore, they approached the concierge with an urgent 
request. They absolutely, definitely, simply had to be married before 
the end of the week. One glance at the bonfires raging in those dark 
Mediterranean eyes and the concierge knew that here was a passion 
that would brook no denial. “I’ll attend to it," he murmured. And then, 
whilst summoning up his strength to maintain the caJm composure for 
which he was famous, he launched into a spate of frenetic activity. 
Phone calls were made to Milan. London and Paris. Guest lists drawn 
up. Air tickets arranged. Even a church was found in Singapore with an 
Italian speaking priest. Cupid ^***=*-*«- himself could not have done 
belter. So. finally, as the * ast adding bells 

faded on the evening air, f £(jEJgaB)j 1 a question was put to the 
redoubtable concierge. Did these tireless ministrations 

of the past week indicate the ‘ ” presence- of a romantic streak 

lurking beneath that carefully composed exterior? The concierge considered 
for a moment, then casually flicked a sliver of confetti from his tunic. 

“Let’s just say,” he smiled, “that I’m a great fan of Luciano Pavarotti. “ 

A RAFFLES INTERNATIONAL HOTEL 

R.l«r. HmJ I Ek*i I8 < *7:i. Trl- fMJ >37 1Mb. he (05) W7650 Irfan* *Jf 


“S* 31 * \XS3Z1 M * 372 fS? % » TO ssy 

LU 13ft HcSSsSn - 17 «4 27% OT* 27V* a I* ffi’* KZK 

16ft IWaHiml* JO IX -11772 lift Tift, lift a* ** S? 

80% 635? Han* 1.121 IX 1917370 70% 67V* 68 -1ft ™ M5jfi 

26V] W(k HKTrt IXto 5J 17 1180 19ft 19 19V* +ft -*55 

599? 37% HarMn A4f 1.1 19 6E 57ft» 57ft 57ft -V* i" Jr 

21V? 10 HoriznGp 1 J012J _ 2B1 110S* 11V* l?Mi - S* 

32% 23V? HormaT ^ 2X 24 782 30ft30I430M _ S®? 

38V, 26V? HoscPT tS bX 16 453 36®* 36M 36M +M SS* 

23% 14ft HSMar _ _ IMS 21 HU* J0***H ,?{ .IS? M* 

15i? 8V? HostMS „ 2S 1S4 Iff, 14 141 tM "JJfiS 5J5?S 

40% LSft kouMMSXO U 12 360 37% 3»? 37V, af* 40ft 23M MatW 

130 78ft Hrafirra 1X81 IJ 20 4364 122% im*1TOM P6V* .5? Sj 

ssusi&&uidit&§es« 

roliSu ?»*»♦« 

29% 15M Hump* _ 16 997 20% 19U 20% aM SJSLfSJJ JKjS 

49% 39% HttoMB 1.1b 2X 19 914 44M 434* 44V? An JJ32 

3bft 20M Hutfi5vps J2T .9 15 384 34V* 33% 34 aM ££.*£2 

2SV»17ft Humana _ 27 2482 72W 21?? 22 +V* ^ 

17 10 Himfco .14 LI 29 620 13% 13V? 13ft. _ Sf? L !£S£ 

16ft 14%* I I 1525 1SV. iff* iS aft SSCM^ 

PI*H |§ If p.g a : 

8?* 71? J56xI» 7B?*»*2?« I JfifSJ 

10V* 9 HypniTR JSai_41S9ft9U9V*_ 

26ft 22V? IBP .10 X 18 4065 22% TOft 22V* -V* £gS fS* 

2M 1% ICFH _ 27 93 2ft 2ft 2ft _ SJ* 1?? 

5b 19ft ICN Phm 32 .7 19 3447 49ft 464* 49ft+2% fiSS 

lift IS ft ES 2-10 6J 15 <23t2t 33% 33ft aV* 

42ft EM MCGta 33 IX 16 1879 Mft 33 TOft -4* SSK 

T\ 13V? IWCO .70 IJ 20 309 17ft 17 17 -V* ?}®22 

51 38*? WGGran 499 - _ 3433 4TA <14* 42 aft K2K 

26ft 19 iNMC MtalXM.1 13 2388 27% 22V* 22** aft {*55 ‘ 

13% ft? IP T«± j!0018J 2 193 11ft 10M UK? -V* S5 

2tft 15% IRI Irtln _ _ 6763 17V? 16% T7V? aM ’SJJ.'L, {{?££ 

4b 29ft IRSA .90B 2X _ 167 33Vl 32% 32V* -ft ’£'•-!*£ J*?™ 

13 9M IftT .90 75 |7 1SJ6 12ft lift 13 aft S'* S3 S5S5I 

80V? 41V? ITT Con _ 73 6751 754-, 7Sft TSftaV* 

33ft 22ft Hr torts .60 1 3 14 1831 EM 30ft Eft aM 1 ?T'‘ 7S £ S&3L 

32 UWmP 1X6 5J 15 1004 d 33V* 32ft aV? ™ 

364*23% IDfeCs 48 IX 17 688 33 32V? 37% An 


'SB fi r JM 

7V? bft KKft Jfl 8J I 1571 Km gjj t >r 

m|p 44 i §iiv% 

4AM 321? MGMG - ™ ^ uv*aV. 

TO?* 9 WBCfc* „ .. 7 »6 14ft 14 «4a* 

S5S ^ M 'f ^ X 37% £]‘ -JJ 

- g •g'E i? a 

TOM nv? Mfb 1 " ?4ft - 

Pi 

41ft toogCp 1X0 2X 18 901 40 3® TO ■* 

73?? « SoffSigiJo .. - KS Sc! .% 


= i ss » ™ « 

TOft n iHoShT 1X9 92 -*1417 I2V* 11** J 1 * 

\&\% issssa ’j? Ij : *s35 \u \m *. *« 

Sft21ft AtalrfCr 09 .2 17 t gl W1 « & *ti,S 

ISSSSSlmi’il 4* i 1 , ’J :i 

UM 3* Mortar M B.9 - W Jg* * V? 


h ^“ 1§5 SSSwV .16 .7 I37B 23 Mo 22N 22 ? "it 

JJ ss is S js n 17 j S 5 su 5 

«% 33% & X4f IX 2110255 47ft 46ft 46U -«* 

= i2g!S!SS?? ,J, « iSSSSS KTffiVi 

+ Ji ST IE? MotSd _ 18 120 14% 14ft 14% *V* 

*v£ 211 145ft Matou 1.10a J 31 105 162% 156 161 »2 

’t» 40V?23MMaM JB .7 61133510419* 3«* 41M all! 

4V? 3V. Mmlm 30 7.7 20 601 3J* 3% T* *9j 
?v? 10ft 5M Movcsan.11* IX -1194 tfv* 6ft ,6% 

aft I£* 8 ^catoiGp _ 27 1276 15% IX TOft aft 

t£ 32ft 17 Maumuvn _ - 87 26%* 2b JA% -?* 

tjf Bft 12 Manani _ 19 305 22V* JIM Eftaft 

57V? 43V? MovDS I JO 23 18 3729 56ft 55% gft -» 

*i* 34V* 18ft MOVM A4 2X E 1648 32ft J”* SJ? +Y* 


30 23 18 3729 56ft 55% S*? 7* 

TOftrMMSsfc.s a s iss! ^ a 

TOV. 28ft M^RIBTXO 1U = jgggS§^5&3S 

Z _ 405 40% 40». 40ft - 


S3Vt 16 McDefl JO X _ 3527 35V? 35 TOft -ft 

52% 16% McOrfJR „ - 405 40% 40»* 40M - 

29% 13 McDBlV? 35 1.1 17 461 23% ZM MV, a*» 

54M 42ft McOrrids 33 .7 21 18975 <9ft JW * «*-* aft 

25 ft 24% MCD036 1X8 7J _ 96 KV? 25 ft aft 

25M 24M MdJnEn 1X7 7 A - 119 25V? TOft Sft - 


491* JB% 48** aft 
25V? 25M MV? aft 
25V? 25ft Sft - 


709,42V? MeGfH 1J4 2X 26 3489 |71M *9 71Ma3V* 

113 51% MtXeaon 1X0 .9 TO 904»in% 1)W? V'lV: -ft 
75M 4W4 Mcod 1JW 2X 23 1414 63ft «26-* «. -ft 

28M 1 7M Maflftnl - - AOE 26V* 259? 2SM - 

Sft Eft MertPITAPI J4>.9 _ 381 24M Mft 24ft +V? 

Eft 12 Mcctam 39D 2.9 12 103 13% TOft 13ft -ft 

3B4*299*Mamust 2J8e 6J 17 8202 384*37% TOft aM 
SOftJSM Modtmfc I J2 J 5014950 47ft 46ft 46ft -ft 


36V*23% IDEX i 48 IX 17 t£S 33 TOM 37% -V* 
46V? am RzmOUSol .16 X 33x7030 31V* 29% 3m*a<M 
TO 30ft IXtotOr .92 2X 15 7*4 36% TOft 3S? aft 

25M 74ft l|PFpfT 2J7) 7X _ IS® 25V? 25V* 2SV* fMn 

55V*37H ITTO s JB .9 24 4537 54% 52ft S3?* al* 
28V? 20U IBtXJVa 131 5X 1017E8 22V.EM 22V* 4 9* 
33V? 19V. Irrxmcn _ _ _ 397 199* 19V* !9ft a% 

<7V*19M Imprftc 2X01 _ 30 lrfft U7V* 47% 47V? aft. 

EM 45 ICT 2.40b Al 18 1854 59V? 58% S87k alft 

•am 19% toocurn .. IS 2361 31V? E E% a% 

37V? 17V* IN CO JO 2J 27 8413 1 7ft 4 17% 17ft* -It 

27ft 14ft INCO irvb 32 2.1 _ 457 15M 14ft* ISM -*■ 

i^ssm xf?i 

34% SM jl^Sgy fll ill 31 ^ 

12ft SM InOonev _ _ 281 5ft* SM SM -ft 

TOM isv* SS otS 61 2J I 5510 MSlirn wT-lft 


501*584? ModtrftCI J2 S 
sr? 32% ModMO XO IJ 
58% 3ZM MStoBks1J2 2J 
26ft 25V*Metan^ 2X5 8.1 
361? 19 Momtec ,07 b J 
9ft* 8% Moittnc X4 BX 
53ft 32ft UocSrav 1.15 23 
69 46ft MrrEsT 120 1.9 
081*75% Were* 1XK 1.9 
lb M MorcFfi _ 

toft 76 Merrfns X8 U 
TO 20% MefKRhs J6 .7 


I 32 S 5014950 47ft 4b?* 46ft -ft 
XO IJ 12 566 Eli 40 EM al»l 
1J2 2.4 2017777 55ft 54V* 55 V* -V* 
2X5 8.1 _ 345 25V* gft* 25% -ftk 

,07b 3 - 4946 35»* TO% 35% aV* 

X4 BX — E 9ft W* 9ft _ 

1.15 23 32 1264 SOM toft toft* 4% 

120 1.9 1? 256 62M 6lV? 62% aft 
I X0t 1.9 2538706 95V* 92ft 92ft -V* 
_ 117309 1 M 1 

X8 IJ 20 lb43(S0% 48 49%a1?« 

s 36 7 28 1758 35*V* 34ft TOft a?* 


B’TOSMHSS 

17M.12I* MerLEur _ 
Ibft 11 MLGT98 
109 bZ% MLMGKX83.12L1 


Bra&Sbi 


|1<A23S 73 - S67 EM 31 1 Eft -V* 

«99 137 4.7 - 144 297* 78*7 29?*4«V* 

Fur _ - 111 16V? 16% Ibft aV* 

r®8 _ _. 92 14ft 14V? 14V* *V. 

GX383.12L1 _ 1087 100 9BU 100 -3 

M72n - - 738 BA* 8% 8ft ali 
U994X9 5X _ 174 E% 70V* 70 -V* ft. 

>01 _ - 404 14% I4M 14% a'-* 

’®n _ - 1375 lift 10ft lift* aV* 

pfC 2X0 7-4 - 264 27 26% 265.. . 


2E 5M» SM 5M -V? 77 2V " Mart. pfC 2X0 7J - 264 27 

^-?5 IT 18 »»■ - 


15% im 

fe.ir 


Is .60 IX 16 6227 

1 jo ,3 ” 9% 

*«'**“%& 

I] J7 5X ^ X7 
02 .1 18 1166 
.75 5 X .. 237 
I .77 SX _ 153 
1.32 IX - 176 

!| J8 53 IT W 

Mq 63 _ 246 


.75 5.9 ^U4 17%^ 


IS 


|6ft 24ft MEIFCI 

UV*8? JSctfa 

Bft. 13ft Me»rf 


EM VI jntahni _ 19 1 
i097* 63ft IBMl XO X 1732 

2«*15V4 InlGcma *J2 ^X TO 3686 25?*2S%" S9* aVi 

. Mft 21V* IntHFds n _ - _ 7326 tils 22V* 23 aft 

5** 153! tfite! 1 -* 2? ’l.il? Mv ® 279*389* aft 

£L 3K! ES??. 100 2-1 _79%04 47% 46V? 46V* -9* 

■73% IIP? UtlRBCl - - 1245 14?* 14V, 14% aV* 

. Sft ?M IT Cup _ _ ICC Sft SM 8M A* 

LZ% 12% j ntoftjp als .TO 11 15 798 14V? I3M M? aM 

H. 25 J"S*GE? -S ! 'i 36 2108 47ft 46V? 47% a*. 

g?*33M toterraftl .77 IJ 14 422 55M 54V? 54V? al? 

TOM 71ft InJstBoks JB .9 23 1755 32^o 321? 37V? -I* 

TOv, 2£\ IrrtrtfHcfl _ E ldfiJlTOM 34M 3SV* „ 

BV,12ft klUtW J« X 15 177 26 25M 25V* -V* 

33V? 27M InhtPw ZOB 63 12 170 lEV* 3EV* 32?* a V* 

IW I Smte S3 2J l"9 71ft 2»* 2?% "m 

^!^««285o: zj'&\S: 1 B 6 'jf&'ti 

SynldVl unwga .. 4471069 32M EM 32 alM 

B 35 Ionia __ .21 543 37V. 36V* 37 at* 

CTV.J6V* Jpcfco 1X0 27 17 E3 369* 3AM TO** tV» 

lift flwtn - _ 1738 ET* 21V* 21V, ft* 
mTV-,241? IdMaM .976 10 _ E Eft 31ft 32V* 4 It* 

T8V* 12M NAdaz .970 5S _ 190 17M 17M 17% -V? 

a% i9**rw*Plron _ _ 92 Tov? 79% 19% -% 


JIM 31** 1* 

IS?® ft-. 

m ss 

14ft |4M aft 
15V* ISV* ft* 


1 JArlO.9 - 2 
■ 

%’S ; .J 


ssiga 8 iB 

mkracn axo 4.9 w ia 



28M7DV, MU 

1«P«I 


!» , « is z. i 

i 1X9 7ja n 11 


>Rdfl 


“Bl2 

1?? f 

h2IM aft* 

li' 


lOJ? JJiLSpSI JO 19 94 5712 10V, 69V* 10>* aM 
25“ •iS5SRF t Vif 83 ■- w KV.25M S%* vM 
25 3DNWV ZOO 6J 19 1709 31ft 3ffV* 31V* aft 

10ft ILG .02 J 15 1127 13M 17M n al* 

21ft JP Food _ 24 1247 29% 28ft a»* -ft 
73V. JPPJTy lXffl 73 16 353 74% 24ft 24% at* 

»*? Jampot 32 2.7 14 138 lift 11% 11%* -V* 

22*? Jocdo? _ 14 749 26'* 251* 2S*V* -V* 


M* 10% MimMaTXla sx - 
V* 27 Mkm PL Z04 5X IS 

saw-ifi n 

ft 18% Mk«BB S3 1.9 2J 


i^*S5S 


79ft 18% Mk«ei 
Mft 6% MJBto 


ibr^'‘ s 

19% 79*^ ?9** -v* 


53 1.1 21 500 27J* 2A TOJ* aft 
- _ 543 8%» Bft ■•* tlr* 
2.17 7X 2012501 76 74*, 75 -ft 

_ _ 3B3 10ft 10V*. 10% -V* 


22% 15% Mo®B -®4 Al 16 1016 ISft 1P4 ISV. -V* 

14% 9M MCBffQr 1.11b 8S_149 IE? lift 13M aV* 

22 10M MargK*« 34 13 17 1QS2 1«M» lBft IBM a% 

9ft Sft MonmP „ - - 306 6% 6ft b% ' aft 

18V* 13ft MSAmcfl I Jle 10.1 780 15ft IS IS -9* 

13ft 7y,MSA»a Jbfl 3X - 5519 7V] d 7% 7V* -*% 

58% 31% M5DWDSX6 IX 1610722 55V? 52V? S5Ma3M 
19ft 1 1 MorSEra XDa 5.9 - E4 13?* 13M 13V? aft 

15M lift MSEXU2 lJ7e 9.1 _ 5?0 13?* 13*, 13**a9* 

17M 13M »S Gtabl Ult 93 _ 345 14ft 13% 14V, al* 

I5*-I3M MraSHV I TO BX _ 251 ISV* IE* 159* 4? 


24% JCPCoj 
25 JDN R 
10/1 JLG 


12 r.Vjnlh 

HftH Loo Stock Di? VM Pt 

»r« Ibft DcverO JJ IX 21 
DnCh MIS 1. 
SlftaJT 1 - Doajn-. * I* J 
27 » 1/ Cdnc/Fn J» IJ ]J 
iJ'i 8 j Drara - 1. 

*'• r. Ore'.W 76f zo z 

9-1 B’i Cr?5IG 75a 7.9 . 

10 * OvOlri SB *4 _ 

I0>, 9'. 0n5V bb bj . 

40 a 29- • QrtKMpn .. - 
*>'. 44’. Di: Pert Is I TO Z1 Z 
40' i l»'j Doojwun .. l| 
Id' a P'^DtllPUm ,73o 7.1 . 
l»-« ISV, r*lfPTF 9* 6X . 
I4‘, IJ-j OufPUC 1 19 83 . 
51 1 « 4 1 '» OV'clWV Z70 43 7t 
75 l/»< ChikeftlS 1.20 53 2i 

38ft 21'- OunBld SB 31 1! 
W ! ?4'» OuqCcrtpl 7X9 81 . 

H ®'. Oycoro _ 71 

14 ■ S-» Dyi rJjq 04 .3 L 
So a :> Dtnatoch . 21 
I^j 12' i Dvnn'slJU 9X K 
9’ - !•« EAlndvs _ _ 
24? 18:? EGG Jo 78 X 

» 4 EV.Cho, l> 12 7 

B-i Iff* EMC s _ Z 

63<V»r/!» ENI I 42o 23 . 
Eft 2B*i ETown ZOJ 55 1< 
7} 2? e EVlIiklS . . 

47*! Eft Enrthws 20 J 31 
70 16 EsIANG 133a 68 K 

JO 30': Eo-.IEri 1^-H 40 11 
TO - Ibft EaslUB 1 46 73 V 
72^*16'. Ea-Jmn IM 65 1; 
65*1 50'.. EaJGira 1.1b 19 I! 
94. 55’ i EKodak 1J6 19 T. 
103*1 4S*i Ealar 1.7b 1.9 21 
s*. lift Ediclonn . 81 
S*«29“- EdlBn .90 ZB 1! 
52 l i TO'-. Ecatob. 6113 8 
2J'i IV. Eakonlnl 1 s» 17 K 
JJ 70 EdvranfcsX? IX I! 
20 J 19ft ISEBdF 1X6 7X . 
8’. 3ft EKCO - 11 

64ft 44ft EIPusMG I TO 24 21 
TOft 78l! Elen „ 3S 

74 22 Eton *1A _ _ 

24V: lift Eta?', 24 1.0 22 
49l>29», EDS tOl, k 
b9 -O"! EUAqutf I JOf 19 X 
Eft 25ft EROlrpCAZia Z1 
7s at EDO* p(B 1.91 7 X .. 
lift 13-9 EboqS . _ 

9'J A EMom - 41 

17ft 78ft Etenncr Xbe Zb - 
II", 7ft Emaicf DJc .2 _ 
18 Iff* EraSlfiJ 1X9010X . 
20**16 EMhKS lASa ®J .. 
17^,13 EMtoafl 1*510.7 .. 
14”, 10ft EmqMM 09 X . 

tip* 45 EmtnEls 1.1B&J 21 
|9<~ 15% EnpDrt 1 M 69 1£ 
24,, IS 1 ? EEKNffl 15c 64 _ 
1® ft ICV- Empka 17c 1.1 IE 
4ft 3 EikcIqii 

71' : 15 Endesa s XOa 27 1* 
37ft Mft Enron IJ4 13 I! 
44 2®(, EhftjVCpn.Aia „ . 

J* Ci Erary-. 11* 4X _ 
23>» i/;v EnqKp JO IT 1< 
59ft 33>, Enhance JJ X 17 
lift tnr.Bu *2 to it 
!o 2I*« Erwua 156 6J K 
42‘? TO Enron 951 Ji _ 
76ft IB 1 ■ £nron®8 136 b* - 
28,4 l/ 1 ? EraitOG 12 b 22 
47 191, EWE CO 4 _ 78 

I2vr 7* , Era&qi .. _ 
aft 22*i Enters? 1X0 73 |( 
76! JS^tnlLA Ufa Z2S 84 _. 
2bV*74'« EnOflaO 74(. 9J _ 
IKi 19'? EidnPf n .. _ 


19M 19'? ErtwPI n 
4ft 7 EnvElB 
77* « 17 EollErw 1.90107 
34% 33V. &ju*U 35 1 0 
45'r DU EqlCm 20 .4 
lft J7'i EMR«c l W 36 
TSi- 17ft EqwtrCp 
16' a 114? EqMnn 1.1 bf 7.7 
34’. 3S'» iiOtVJn Sir 1 J 
55 TJ'« EqhiRsd 2X81 53 
74ft 75 Eqip plA 234 8.9 
»'•»? EqlRpjGlXl 7J 
19»l* O' . EsidSx 
7Tl 17*1 EyWEWl *00 M 
40 17 Fjvxilnln 

53' i 7> E-JBCLdr 34 / 

■a ? 21 EsMnc 
19ft Ml? EtoonAIs 17 J 
10 ft 8ft E8wt 35 in 7X 
72', 10ft FurrtlFd 7w 43 
2 7 M 19V? EronWti 1X7no.1 
47'- IVi EnmiC 441 1.1 
43 25=1 EsorcsIRc lb J 

79M 17ft EttefCm 
toft Iff * EaH XO 2x 
37ft 71ft EldHPf ZOO 66 
31 *? Hi Ennl pfA 2.17 7.1 
77ft 13ft IvcPtS 08 .1 

64',36% Ewl 1*01 2X 
77ft 14ft ExideCp 08 J 
71% 1IU EdVInA 
67ft 45"i Exnns 1X4 7b 
81: Sft FAC Rtf? 

91’.* Wft PMC 

54S TO".. FPLGp 192 35 

47 , V^99| FooBC .04 ,| 


PE iWsHtrfi LovLotad Qtob 

70 356 21V* ao« t 21 ft* IV* 

U11»ls«m'i 99 99V»*2’ , 

TO 441 3 toft 48V? toM *7ft 
IB 177 27' » 26’.* Tb". »V, 

11 715 10’, 10% 10ft -v* 
23 9452 39'. 39-a 384, <ft 
. IcO 9ft X', 9ft ._ 

369 10" ■ lO 4 . lO"* _ 

- bTOllA* 10' 9 10** *Y? 

_ 1900 37ft 31ft lit* .lft 
7373178 6l<V.40'k 61 Vi *|% 
IB 277 13V* 37% 33 ♦% 

_ 2778 101? 10", 10V. ak« 

_ 180 Ibft 16", 16'? _ 

- 6S6kl4ft 14 14V* ,4, 

7072217157ft 50* 51ft +«* 
23 674 TO'! 22ft. Z2t* aM 
15 1505 29 bv? 24% aM 
.. 122 251, 255* 75®* aft 

71 2tol 2I»* 70% 21ft aVi 

12 2B0 12M 11% 12M afk 

21 392 38V? 37V* SBi.aV* 

10 974 14' ■ 13?* 141, al* 

_ 701 »?* 6% 6M J* 
37 1477 1®?* 19M 19% -V? 

21 114 4V* 4V, 4V? A? 

3319153 32V, 31 M 31’? aM 
_ 147 MV? 601. Mft ♦% 
1b 147 9EV. 36M 37'. all* 

- 9387 54 S7“k 53l,alS a 
31 1537 43'. iff* 41>*aV, 

12 180 19,, 191, 19M aV* 

17 B7| !4»* TOft 40>? at? 

13 993122ft a TOft a'9 

H 198 21ft 2ffV* 20ft -•* 
15 1049 tO’B 60 60 -V, 

7710851 M% SB*. Mft aV, 
21 33to 94 93** 93ft a>* 

88 117 TO' * 71®* TO. -ft 
15 1617 31?', JIM 31ft aV? 
75 1340 50M toft 501* a?* 
lb 7m 27 TO TO** aM 

15 1767 35V? 11 35V. alV, 

.. 173 30% 20!* 20'* a!* 
19 93 ««* bft 6ft a I* 

71 1003 67ft 61?* 621* aV* 

35 1744 SI<V« SOM Sift .1ft 
_ 85 63V? 42 63ft alM 

TO ITO 3?* 23’? 23?* al? 
TO 8820 38M 37M 38% aV. 
TO 397 b2? ■ 61V* «1V* .% 

- 107 76% 36ft 744, -V* 

.. 127 25ft »v* 271, aV* 
_ 3tw 17ft 169* 17V? aft 
41 121 8V* 8% 8% -ft 

_ 332 32% 32V* 37% alM 
_ 430 10ft 10ft !0ft aV. 
_ 3» 15 4M Iff* -ft 
.. 107 181? 7M 17M aM 
.. lie 15ft Sft 15*? -v* 
.. 4?9 lift on* lift aft 
21 4697 54% 57ft S3M aft 

16 .101 IBM IBM tSM a** 
-42274 IBM 17% 17ft .v* 

18 581 15 14?* UM aft 

_ 14S 31? 3U 3ft -V* 

15 5239 18ft IBM 18% *Vn 

14 B6 37% 37ft 77M aft 

, 4073 47% 47ft 4?v? aM 
_401®5 30 29}k 30 

10 (092 18ft 18 11% a% 

17 463 57M 55V5 S7M ajl? 
lb 7« 1QV* IOVj m -ft 
13 18® 2SM 24% Sft a% 
_ sno 38M 37% 33 Vk a** 

- 97 TO'.? 19M 20V? aM 

27 5876 2ffli 19ft 20V* aft 
7817373 39 37M Pft tM 

_ Z3i3 9 am jm - 

lb 6793 2S% 249, 2SM aM 

95 MM MM M%* -ft 

- JS* J* 1 * 3AM* TOft -V? 

_ 2305 19% d, 9 19% Jfi 

- IS2 2% JM 2% an 

, .411 18 17M ITftt -% 

34?1B99 34?* TO?* Mft aV? 
29 9397 DtoH 44ft 46ftalft 
a IKMXJV. a ajft *1 

J, iso 2ift 20M zift a*» 

19 14S0 15ft 1SV4 ISV? -M 

4340 32®* 324* 321* -V? 

29 1546 SOM 49b* 5W* aft 
. 117 26% 76 V? 244* aft 

. 33S4 to!? 24ft 2S 

19 306 IB 17<V* 17ft aft 

16 2575 »v? 19?'* 20V* aV, 

in 33 m 31% TOM an* 
TO S330 52M 49M 5lV*t2% 

13 134 341* 36M TOft. ft 

20 685 3711 36V* JAM aM 

12 947 9 8?* Bft. ft 

- 227 17*V«17M 17% aft 
73 217 SI? 24ft 24ft aft 

17 171 «M to 40% all 

15 1X31 to 37ft 38ft -ft 
19 92a 74‘? 23i* 23ft aft 
10 137 19V) IBft 19 aft 

16 526 3ffV* XV, 309* -ft 

_ 9S 29% 2®M 299, _. 

19 209 bSM A4M AS ft 

8 7U7 Alt* 429* U aft 

72 703 24V. 24 34V. aft 

- 165 9 121* lift 1»* aft 
18307® «?% 61 M 479* at? 

- 544 71? 7M 7ft aft 

13 1880 TSi'a 74 TSM a?* 

14 58400551? S4ft55% aft 

M 272 44 41ft 3»?a1ft 


h! sno 


,Kgb LottGrtesl Orja 


15*k 11M MS EMD lJ7e 9.1 _ toO 13ft 13«* 13ft aft 

17*» 13M MEGtabl Ult 93 _ 345 14% 13% Iff? aft 

15*,»2M MroSHV 1 32 BX _ £l ISft IP* 15ft ft 

14ft 7ft MStodto _ _ 2313 Bft 8 Bv? -% 

41% 17V? MSRUtolP .14C X - 47b 25M 74M 2SM all, 

m**®. Moroon, ixj ax is 752114?? 114% iibv»av, 
911? 751? Moron raxxo 5-5-302 91% 90% 91% -3 

19% 17*1 MorStHn X2 4X 20 544 18V* IB 18 - 

14V? BV? MorrKnod _ _ 20 24B 1W? l(h? 10ft J* 

SM 3ft Monn^ .q _ 53 133 3M 3V. 3% aft 

35 “*77% MoMnlnJB IJ 14x2114 ISM 35 ISft +4* 
14M 41? Massimo - - 707 JV? Sft 5ft .1* 


19% 15M GAL R1» IJ4 7X 17 90,1ft 19 19% aft 

27M 25 G&L ptA 2X4 9X ... 124 M 354*24 a'* 

25V.25 GALpfB Z45 9.1 _ 712 25 1 ? ISV? 25% »V. 

7W*Xb GATX 1X4 10 14 764 62 % 61% 6? -% 

38’? 30* GPU ZOO 5.2 14 2489 38 % 35V* 381, aft 

20> 12% GTEEU101X64M -. I® I4M Iff* 14*1 aft 
40M GTE 1. 


379, 22*? Jocnbs _ - 14 749 

j*V? 4V? Jakarta XT* X .. 5177 

1\% 6V. JmpEq X60 E.9 _ 472 

ft 4* JpDTC XSe IJ „ X762 

l»i', 8M Jard«Q. X» J _ 324 

lift 6V? JF India - 388 


14 2489 3B% 38V, 38>ftaft 
_. IM 14M Iff* 14*1 a-M 
1631425 48% 47% 47ft aft 


BTM 34% JoWfGo 

8k% 571? JrffRf 


_ 14 749 26ft 251* 25V, .ft 
X .. x177 4V? d4% 4ft _ 
1.9 - 472 7M 7V* 7ft aft 
J - X762 SM 51? SM aft 
J _ 324 10M 10* 10% -Vi 
- 388 6% 6M M? -ft 

J 14 KO 72V* 69% 71% a 3% 


14V? BV? MarrKnud _ _ 20 248 ItH? ItH? Iffft J* 

S'* 3ft Monn^ .2m _ ffi 133 3M 3V. 3W aft 

35 “*27% MoMnlnto IJ 14x2114 ISM 35 3Sft aft 
16V? 41? Massimo - 207 sv? 5ft sv» .ft 

TOM 6% MotwfftT _ 76 125 to 25ft 251, a ft 

Ml? 217 JjSfaraa J8 .7 3727OT44V? 63ft 6S%a2ft 

50M 36 Mueflartfld .. 14 398 47% 46ft 47 aft 

13% TIM MunAdV XO 6.0 _ 153 13% 13V? 13'* “ 

10% BM MunHT X2 6J - X175 10ft 9ft 10ft ay. 


91? 8% MIOT2 
10M 9% MKJT3 
9ft B% Mo IT 
io &t Mum 


1X0 2.1 IS 1776,77V? 751? 77% alibi 7% 8% MuTT3 Xlo SX 7 


85% Jet) POO 536 5X _ 2®910t% 105 1Q5»?a<r« 


27 25v,Er|DE^r Z19 83 - 295 2*9* 36V* 24ft -ft I 

2n? 259? GllWpC 2J1 gj - 89 TOft 26ft 249* - 

lift 9 GOteto 1X0 9.1 - 1044 11 10»? II al? 

29 73V? GottRsd 2X01 7.7 18 769 78 % 27V? 77M a% 


10ft 81? GOkSOT X71 J 14 348 B% 8M B*, aft 
20 12% GdteyL . - IS 249 »% 18 ISft aft 

22 Gddoon 06p .. _ 1460 TOV. 25M 24 a% 

38% 291? GoOcgr lft IX 12 in 35 V? 35V? 35% 4k 

211*16 GoBatxrn JOp _ ^ 1603)21%* Z1V? 21ft ah 

TO*? 11M Gcilooti „ _ 1675 11ftdll% 11*1 al? 

56M 3SV? GOnnoll s .76 IJ 20 39TO «S7 SSft 55ft aM 

S7V) 27H G« 30 J 32 7A75a57Tt 56% 57ft alft 

JJV? 15% GortDrfj? „ 17 370 39% to 39V? t % 

4b% 23M GflWOOOs _ 45 9W9 30 % 29ft 3Jft.1V, 

TO% 28V? GcylEnCn - _ 145 32V? 32 TOft -% 

31 IbM GonCra *0 U 7 MM TSM 14% 1SI? a% 

59% 57% GcOBlte _ 78 1018 58ft 58V, 58% aV) 

J si, 20 Vi GAbnr 3JS8I3J - 144 25 74% 2S al? 

»*? 20V? GnCtoben JBp . _ 584 35% TOft 34V, ■«* 

P? 1BV? GrtOKm JO .7 TO 158 77% 27V, Z7% a% 

?4 » GMOorn _ _ 974 26% 264, TOM -V? 

171? 5M GnDofi - _ 497 5M 59* 5M -V* 

?% 6JJ? GertOwi 1X4 r.9 18 738 85 H3V? 84% aft 

If? 2% GwEfet?UJ4 IJ 3053599 TOft 71V* 71ft *1% 

38% 77 finGftli 1X0 XO 13 684 36% 35V? 35ft a% 

,4M 2% GtrHorf .191 - _ 451 3% 3% 3ft aX, 

10ft «? GffHcrn 32 3X 17 171 9% 9ft 9% aft 

75% 57% GnMffl Z12 23 25 6BS4fl15f* 749* 74ft al* 

72ft 53% COkMOta 2X0 13 817995 62 ill* ill? aft 

77% 26% GMtaptOZJB BX - 248 26ft 26V* TOft _ 

Jffiirt? CM H 1X0 I J 70 JO M 65 64V? 44ft aM 

Toawisi Gemta , 2X2 IX 17 1271 2076,204 205% a1% 
17% 8% GenSonjn _ .. 775 17% lift 17% aft 

S3 TOft Gonstqni 1X2 2X 15 10M 4i% 4(yv.4ffV* aM 

15ft 8% Gensra _ 14 2421 12% 12V? 12ft _ 

21ft 111? GAfBfcE nZOOlQX _ 170 30% 19% 20 -ft 

3914 71% GoOKlsH _ 19 5863 24ft Z3V? 23% % 

.4% 2 GnvSS _ _ 707 J% 2ft 2ft -M 


29% KU Em 1.7* 


25ft23M GoPCpfTl.94 7X - 1199)24 25% »»? -V* 

1081*70 DqPoc 100 23 31 2816 84ft SSft SSI* -ft 

24'? 13M GgfcSc TO IX 24 si* 20 ft 1 9ft 19% -ft 

169,11% Grffd 422b 13 - 324 12V? 17V* 12ft _ 

IS?*!?* SHS* UftlW 835 131? aV* 

TOM ID raordta 30 1.1 14 93 18ft 1814 18% -ft 

U£%68 G»eflp 5 .0 4617366 91ft 90% 91% aft 

,-fe 1-3 & US* ,33?» Bf 3ft - 

47% 29% 13> Z7 S 7371 44% 44% 4ffft .7% 

22* 14% g«W(IS.^ .9 13 177 27ft 27% 27ft al? 

78M 14% SiRT ITO 49 27 {47 27V* 26% 26ft -ft 

23V, 17V* GtkfKllfe 1.92 8X 17 474 27 21ft 21ft. 4? 

« 13% GftOa - 18 825 181* 17ft 17V) 

,4% 17% Gtofare 1J7 97 - «551 ISM 11 13M +V» 

72% 1SftG**M1 _ 14 105 181? 17V? 18% im 

36ft,t6% gobM - 1334798 28ft 27ft 27ft til. 

15% !2V*GbbfdHM3atai 442 14ft 14% |4% „ 

3M? 19M GoklSfie _ 23to47 33M TOft 33% all* 

raftsan adWF soi .* « ew sw* B9%. iv. 
lft ft GoexfrPal _ .. 1238 1ft 1ft lft -v* 

48% Sft Goodrai IJO IX 11 3®04 44 1? 43% 43% m 

71% to. GoeOybUl JU 2X 13 35*4 bilk 00% M 5 

SJ4 44ft GTOCB X8 J 31 4406 73 71% 72% tl* 

39ft 23ft Greco XA U 15 89 35ft 35% 351? 

lx. u 

m S&2TO.J 

ft:- 1 *; 


10% 5Vk JrflCro _ 95 274 7V. 7ft 7ft aM 

c% 10% Junes X4i; i » MU it 16V* aft 

,12ft IbM JAMen to 1.9 37 1003 26% 25% 2sft aft 

m, BM JojOTSMlt*.16J 1J TO 536 lift 11 lift aft 

AM? 41 JolHlJn M IJ 272STO0 64% 43*? 64ft al% 

51 3SM JotanCn s .92T 2X IS 23TO 45M 44M 45*-* a % 

EM _SV« Johnston JOl - - KD 5V, ds 5 -ft 

7^ lft JoSra* J»34 H^D toft* li' Mft aft 

30ft ITO* KCSs X8 J 44 241. 2314 23% -ft 

39M 2S* KLM top IJ TO 1024 35M 34M 3MV aft 

16% ®M Kmorl _ 2216978 17ft 12ft 17% al? 

(JC 44ft RrnntFptZBB 7X - 377 551? S5M 55ft ■% 
ffftTOft KHEngyl.ia Z4 21 143 47%. 46% 47ft aft 
tot? 3414 KPN ixoe 3J .. Ill 41ft 40?, 41 aU 
TOft W? KUEMf 1.7* M 1» (W35H 34% 35ft aft 
II. 10V? KxrbAI _ 35 1807 II I Oft 11 aV, 

3ft Kneb _ 19 402 5% Sft 5V, -ft 

K , T PL 1X2 SX 72 3080 29V? 28ft 39** -ft 

Mb 14V* KC SOUS .16 X TO 2497 31% 31% TOft -ft 

jr* 11% KnufBH XO IX 17 6700 TOft 71% 2VftaV* 

TOfftM Knptan S .» 1.1 19 « 3TO*, 33% 33% a% 

®M TV* KoQhtr .13 IJ _ 187 11 1014 10% -ft 

3? JO 1.9 TO 3775 44% *4 ibft ft 

3t*«17% Kenwood .64 IX IV 513 3Sft 3ffft 35ft aft 

1U* 9ft KmpW XO 8.7 — JOB 10V? 10% 10V* aft 

.rf^.Z^ 5*»19Ji M SJ _ 2027 7% 7M 7V* -V, 

JI? 10 kmpMI .87 8J ._ 157 10V? 101? 10ft -ft 

Jj 12ft KmoMu X7 4J _ 197 lift 14 lift aft 

mi 12% KmpSJr X2 63 _ 154 J3ft 13 13 -V* 

55 • 33% KoramUl se U 19 910 53M 51*. 52ft *1ft 

toV? 21% KonTB - 32 872 34% 33V? 34M all* 

5SM Kaiftc 1X0 2X 17 2181 68%. 67%% 68ft af* 

!ii! JL 5 e r prt „■? 14 ny» lift n% ai? 

67M 47% Keycap 1.68 2X 18 4928 sal* 64V? 65ft alM 

M. 26M Kaftean 1 to 4 X 14 1040 TOft sift 32ft af? 

1SJ. »M Korean _ 10 IM 12ft 11% 11% -M 

3g*> 22 KHroyff n 1X5 6X _ XI TO% 25%, 25%* -ft 
Soft 43% Klmtokv .96 1.9 2123956 $2% toft 51ft «1M 
36b. 28V? Onco 1.72 5.1 20 777 33M 33% 331* -ft 

267*24% Kbnc pfC 2X9 BJ — 92 25ft 25V? 25ft aft 

41%|12A WnWlEfjS SJ 31 B6 35V? 25 35 -M 

5« J .34 BngWd 2X08 IX IS 27®9i57% 54% 5b«*a1«i 
7Vi 3ft Ktfxwsq _ _ I2S 3ft 3ft 3M _ 

21h?MKHw - 18 310 19 18* !8?,aV, 

9fc. 8ft KBAinJ ,78a 9J _ 143 Bv, Sft M* _ 

Sft. 35% Knbhtfl XO IX 14 3429 50% toft 50% a*? 
Iffain? KnoTn _ _ «6 31U 30% 30ft -ft 


imja.-sg 

ST-BS «Fd £ Si 

16**14% MonCA M 4.0 
15% l») MoCAtaS X5 5X 

ISOSSH 3513 

161? 14% MonlyVd IMo 63 
15ft 13% Mon I ns .90s 6X 
15% 12% MnNYZ X6 6.0 
14M 12% MunDOy X® 6.1 
15% 13 MunQH X8o 6X 


W *** B% -VI 

XO Bft 8% 8M _ 


1« ITO? 13 13V? aft 

4J5 9% 9% 9M aft 

M 11% lift lift .y* 
X6 15ft 15% 15ft ft 
3W 141? 14 lift .ft 

IU 'S’ JS'V - 

227 16 151* 15ft -ft 

1S»* ISV? ISV, " 
J5ft WV. 15% aft 
114 15V* 15% 15% -l? 

SS JSJV“ 5ft -l* 

620 15 14'. 5 aft 

346 14% 14% 4% -ft 

3®4 14ft 14ft 4% aft 
X3 14M 141? 4ft .. 


m $5&3?r: 


'sr’wssa- “".iflrs ^ 

jS 15 M Ilf Risks -30 .7 25 634 28«W 2SV» 2flii 

-JS -2 36 »1 23% Sft TO% a*V* 

S£ Si? Sit? 8 -, ,-2° V 7 '0 '412 45V? 44ft 45V? aft 

KBCmpI 1X6 7X _ _635 25M 25^, Bft aft 
41% 27% NCRCpn „ _ 3422 30ft 2»V» so % T2J 
24% 14% NGC3 X5 J 28 482 18M 18 IBM 

4l)£ I - 4g 171? 16%. 16% -1? 


Sftl? ,9U 40 M 

26ft 24V? rvpcnp) 2XS 8X _ 


33M KanjrmJI X8 U 19 910 : 


28% 22 KHroyff n 1X5 6X - X) 

431* Ktorttall? .94 1.9 71239SA 
366,28% Ktairo 1.72 5.1 20 777 
Mft 24% WnKrtC IJ» 8J „ _92 


toft 34% Nofco 
3M* 24% NIAinf i 

39M.29V. NPwADS 

!S% .6% NofProc 


JO IX TO 132 

'flS 2X 78 MS 

1.97 7X _ 27 


« 47ft 43 aS 
Kg? IM 108V? *3% 
3g? 39 XI* aft 

2WJ 28% 23V* _*? 

i*l 7 7 4* 

«Uft 64% 67 azV? 

' Saf 1 3«* ?7% aft 


NrfnS l 1 ® H ] 4 ;tk 

K«»li 8 fc«fts 

wSW 5X f "g £y. BJi-W 


S« Sfc. 


- 45 3)61 74 7t*« 

toe 2X 11 409 21M 211? 


KJ4 44% GfOCB 
39ft 23% Greco 
1814 AM GrfpnFI 

99% rati Gfojn® 


P4 3 KorcoEql _ _ 1310 TO* 3ft 3% aft, 

17H- A% koreo _ _14223 6% 4 61* 6% ft 

9 3% Koreabir - 855 41* C Sft 4% aft f 

20V* *14% Kura: 1.V210J is 90 IBM 188*18% aft 

35% im Kronor? _ » 4546«3tM 35V, 35% aft 

38% 17 Kvaini XO 1 J 23 277 36% 35% 36V? al 

171,98 Knot 1.02c 1.0 - 1291011* 99% 1 01 n -% 

Tji ftLAGoor „ _ 840 % ft % aft 

33% 15% ia tad - toll 092 26% 25% 26% a% 

25% JUS LGAt 1.191 SJ 15 1s36 22V* 21% 22ft aft 
5% 4% UE GV 66e1Z9 II 133 5ft .51* SM - 
27*422% UiRPrn XS J -3557 24% 24 24%a»M, 

S® 3% LSalnfl X6 13 - 238 4V? 41? 4ft aft 

46^ 18% 1X1 txa _ 2112760 2£* 23 23ft aft 


g 5 BS 3 *SB 

3%a« 


'J “ i« 7 is sr js? irta ;& 

Sf mSS 7 - S '2g Tift a% .?* 

ot.wS ’• ,s | I* »S gS -S 

l-’a Sa ' m a » rS 1 f - « 


^ *?r 

im* io% i2-: 


W i HS95P-2J6 5J i3 11, 


42V) 28% Gmd: 

MSfltt 

23% 13ft GOi 
26% 17ft GMP 
5014 26% Greet 
n 451? Greff 1 
12 lOM GtW 
17V* 10% Gli 


'L W> 18* g 20% HYSgG 140 4.7 

13% 13<V« _ 52% 30% NewnbH iS j 

43U 43ft aft 45 I6U 

35% 36% aM 26% 13 NtepK^n.U J 

?Z% ’ft Oh 17 HnwsCranJBe x 


i X4 IX 15 & 44% 439* 44% a%| 
cli.Afe U -11S19M in? IBft -ft 
1 346 1.7 -. 350 14% 14ft 14V* Ak 
,1.10m 4J ’JEW 17M aft 

rF 3S 1.1 1134739 TOft MO* 31% 
ta IM IX X 9 VW 46 M 66 SbM M 
fSt X7 6X - M im 11% lift Z- 
.. 15 372 Ibft 1XM 15% 4b 


an* 34%*34t* 


13ft 9ft Gcquffln - 375 Iff* 9% lOftalM 

I4H 14 Ga Moirt n _ - 939 Ml* 14 Iff _ 

GDcpwnaB _ -15612 S. 3116 31ft .. 

32M If CppVma JSp - - 114 Eft 241? 26M a 16 

16% 11% EftSpn, 1X0* 63-7(0 16ft 15V? lbV. aft 

17W 4% EtoSEeI _ 16 TOO 12% 121? 12% It? 


16% 11% Mlbff IJW 63-7(0 14ft 15% lay* aft 

17W 4M Eroobfel _ 16 StO 13% 121? 12% lft 

416 2% GfidSbff _ _ 571 |% 2ft 3ft aft 

1716 9% gftrao - _ 324 13% 1316 13% all 

3DM 13% CMdSMOJIb 2J - 103 ISM 15% 15% an 

7. Z 

bs fEr* 1 ; ^ iftts 

69*22% GahMIlC XS .1 451&2K6»* 62 63 al* 

27% IbM Gtfiterdn 33 1.7 13 2Sft &? 25ft aft 

^8 = i 1 ®** iT* ^ 

20* GdMin - 11 M 29V. 29ft 29ft aft 
19% 13% NUl 1X7* 6X - X4 16V, 16% Ibftaft 

® IMf ^ J4, “ 4 Jig W? j&$l 

Uft19M HCCbl .12 X li S^^bdif Tov? -ft 
U* M% HSpptt 2X3 7X - 9B 25M 2SM 25* + aft 


-4Af? ISH LSI Log _ 2117760 24ft Z3 23ft aft 
30% 16% LTCPra 1X6 7 -3 16 XII 19ft 19% 19ft aft 
14** 0% LTV r .12 IX 36 3310 11% 11% lift -% 

2 M% ffi A !? ^^% T 

* TV. Loocp _ _ 5X5 7% ,2V) 2% aft 

» 11% xfloaE - - 8412 4ft 4% 4% -% 

^ g »i B 73 a w jk m isjaft 
SSpzig .} 5 9 2 $}&'& l&bfi 

21 13% XMiw J4e fX .. 141 ISM 15 lS -ft 

t£? 1W* LoiSr to U 14 156 7£V» TOM IB* -ft 

ir 1 1 1 a 


mm 


HJBqiS ,40 1.7 71 593 36% ixii ?S2 "I 1 

%fcor as »B* &RS 

% in? HmdcSn .Iff X “ fi% Sw Sf *“■“ 

„ W*. JOa TJ 20 737 Z8M $ 7 h ■£, 

S ® '&* * I'iiif 

M 13 HmEkVi U j ' f?J* Sft aft 

4 I* 1*57 30ft 


TSM Ml? || 
III? 12% M 

9? rt ra n! 

m si 


S^S!;Si*!5 W 


kttRBS 


38V* 151? ; 
ltGtt.5314 I 

4% 1% | 
61% 45% I 


Jle X - 
■16 A 23 


\nm 

1 Si?, fiyiS? 


srssu&pu 


Rfld=i m 


IJ -53153 016 

1.7 16 265 1*. 


HjA -W* '-8 13 S3* sS 1 S* ^v 

SgS J !.9 a 2&1 W* a. 2 % 1 ■§ 

EE 2 9 

[teJjC 19 125Q W/zh iSJJ ix??* 1 

1723^^ 

Continued on Page 21' ■ 







r vT 




i 














































































PAGE 22 


Sports 


FRIDAY, NOVEMBER 21, 1997 j 



Track Changes 

ADUiiCS The IAAF, the gov- 
erning body of world athletics, will 
begin a new Super League com- 
prising about 10 elite athletics 
meetings next year. 

Sources dose to the meeting or- 
ganizers said Thursday-that details 
would be announced by Primo Ne- 
biolo, the IAAF president, in 
Monaco on Friday. (Reuters) 

Moving the Mountain 

SNtlMa Organizers of the Winter 
Olympics said Thursday that they 
had set a Dec. 1 deadline for resolv- 
ing a bitter dispute over the down- 
hill course for the Nagano Games, 
to be held in February. 

The International Ski Federation 
has been demanding that the start of 
the showpiece men's Alpine event 
be raised 120 meters, to 1,800 me- 
ters, into a national pork. (Reuters) 

Bet They Can’t Defend! 

football New Orleans Saints 
coach Mike Ditka will not be dis- 
ciplined for a sideline bet be made 
with Zaven Yaralian, the Saints de- 
fensive coordinator, according to a 


Ditka was questioned by the 
NFL last week after he and Yarali- 
an were shown on television ex- 
changing money cm the sideline in 
the closing moments of the Saints’ 
13-10 victory's! Oakland on Nov. 9. 
They had made a bet “in fun” on 
whether the Saints could defend a 
pass route. 

• Lawrence Phillips, the trou- 
bled SL Louis Rams running back, 
is in limbo after skipping a team 
meeting and practice. 

Dick Vermeil, die Rams coach, 
did not specify what the problem 
was. The Rams took die fust step 
toward disciplinary action by no- 
tifying the league that Phillip s left 
die squad without permission. (API 

More Fans All Over 

crowds The NFL set a single- 
week attendance record last week- 
aid when nearly 1 million people 
bought tickets to games. 

The total paid attendance for die 
15 games was 999,778, over 35,000 
more than die previous high of 
964,097 set Nov. 10-1 1, 19967 

Thirteen of the 15 games sold out 
72 hours in advance and were tele- 
vised locally, also a record. 

• American Basketball League 
attendance is up almost 20 percent 
from its inaugural season. 

The women's league, with two 
crowds of more than 10,000 last 
week, is averaging 4,227 fans 
through 59 games, up 667 from a 
season ago. (AP) 

Rebel Opposes Flag Ban 

football A self-proclaimed 
white supremacist sued the Uni-, 
versity of Mississippi, claiming it is 
interfering with free speech rights 
by banning Confederate flags from 
football games. 

Richard Barrett, an attorney, 
asked a federal judge Wednesday to 
intervene before die university’s 
game Saturday against Georgia. 

Barrett says he was threatened 
with arrest at the Rebels* Nov. 6 
game against Arkansas, the first at 
which flagstaff s were banned. Bar- 
rett said he wanted to display a 3- 
by-5 foot flag in protest of the uni- 
vereity's anti-flag policies and the 
desegregation of the college in 
1962. (AP) 


Seeds Face Shake-Up 
At the World Cup 

Change May Help England and Nigeria 


FIFA, soccer’s world governing 
body, said Thursday that it was con- 
sidering changing its system for seeding 
teams at die World Cup. 

It said it might add an element from 
its world ranking system to foe equation, 
which had been made upof results in foe 

Woilb Soccer 

three most recent World Cups. The 
change increases foe chances that Eng- 
land, which has been lobbying hard,, will 
be one of foe eight first seeds in the first- 
round group stages in France. 

FIFA said its rankings which were 
introduced in August 1993, too late to be 
a factor for the 1994 seeds, “may be 
combined in some way" with its old 
system. 

Brazil, foe defending champion, and 
France, the host, are seeded automat- 
ically. Italy, foe losing finalis t in 1994, 
Germany, foe winner in 1990 and losing 
finalist in 1986, and Argentina, winner 
in 1986 and losing finalist in 1990, are 
sure to be seeded. Germany is No. 2 
behind Brazil in FIFA’s mysterious 
ranking system; Italy climbed six 
places, to 10th, in foe most recent rank- 
ings. 

Spain. No. 3 and a qaarterfmalist in 
1986 and '94, should also be seeded. 

Then it becomes complicated. 

England, which is ranked No. 7, was a 
1986 quart erfinalis t and 1990 semi- 
finalist. But FIFA puts more weight in 
its calculations on the most recent per- 
formance, and En gland foiled to qualify 
in 1994. 

If FIFA keeps to the process used in 
previous World Cups, Belgium and Ro- 
mania would be seeded ahead of Eng- 
land. 

Furthermore, Joao Havelange, foe 
FIFA president, has said he wants an 
African country seeded and that Nigeria 
could take Romania’s seeding. 

As in past draws, FIFA will take 
geographical factors into consideration 
in its attempt to keep teams from the 
same continent apart in foe first round 
But with 15 teams from Europe among 
foe finalists seven groups will have two 
European teams. 

The seedings will be decided after the 
final qualifying match between Iran and 
Australia ou Nov. 29. 


Scotland Paul Gascoigne was 
banned for five games Thursday by the 
Scottish Football Association. 

The England midfielder, who plays 
for Glasgow Rangers in the Scottish 
Premier League, was seat off Wednes- 
day night for violent conduct in the Old 
Firm march against Celtic. 

Gascoigne will serve an automatic 
one-match ban for his dismissal when' 
Rangers play Motherwell on Saturday. 
He will return for the game against Sl 
J ohnstone foe following Saturday be- 
fore beginning a four-match ban on Dec. 

The match Wednesday finished 1-1 
after Alan Stubbs scored the equalizer 
for Celtic with a last-minute header. 

Rangers, foe visitors, lost Gascoigne 
in the 58th minute but took the lead in 
foe 71st minute when Marco Negri, an 
Italian striker, scored his 24fo in the 
league this season. 

Gascoigne was ejected for taking a 
swing at Morten Wieghorst, who was 
trying to tackle him. 

ITALY AC Milan continued it's im- 
proved form with a 2-1 victory over 
Sampdoria in Genoa in the Italian Cup 
ou Wednesday. 

Milan, led 3-2 from the first leg in 
Milan, but fell behind to a goal from a 
free kick by Sinisa Mihajlovic after 19 
minutes. 

Leonardo leveled foe same when he 
slid a left-foot shot under Sampdoria 
goalkeeper Fabrizio Perron. A second 
Brazilian, Andre Cruz, sealed a 5-3 ag- 
gregate victory from the penalty spot 
with eight minutes to play. 

Milan has won five of its last six 
matches. It plays it local rival Inter on 
Saturday in the league. 

qbuiany Kaiserslautern extended 
its lead in the German first division after 
scoring three second-half goals to win 
3-1 victory at Bomssia Moenchenglad- 
bach on Wednesday. It was 
Moenchengladbach's first defeat at 
home this season. 

Andreas Buck opened tire scoring in 
the 29th minute, and Moenchenglad- 
bach held foe lead until four minutes 
after die interval when Pavel Knka, a 
Czech, scored. Patrik Andersson, a 
Swede, put Kaisers laa tern ahead in foe 
65th minute, and Juergen Rischc com- 
pleted the scoring in the 76th. 

(Reuters, AP, AFP) 



Reuters 

Mushtaq Ahmed took five wickets as 
Pakistan thrashed foe West Indids on 
Thursday by an innings and 19 runs in 
foe first test in Peshawar. 

The tourists were all out for 21 1 after 
lunch on the fourth day. Mushtaq, a spin 
bowler, also took five wickets in foe first 
inning when the West Indies made 151. 

Aiutrafa vat. New Zealand Australia 
dismissed New Zealand for 217 runs 
Thursday on the first day of foe second 
test in Perth. 

Australian fielders caught a series of 


difficult chances to deflate the ' strag- 
gling tourists. At close, Australia had 
made 32 runs for one wicket in its first 
innings. 

Craig McMillan was top scorer for 
New Zealand. But he paid for Ids 54 
runs. A short-pitched delivery from fast 
bowler Michael KasprowicZ fractured a 
bone in McMillan's right thumb. 

bxEa vs. Sri Lanka India fought back on 
the second day of the first test in Mohali, 
bowling Sri Lanka out for 369 and then 
scoring 90 without loss.- Sri Tunica had 
started, foe day on 280 for four. 


Tlr Aisocialod PJm 

Mushtaq Ahmed, the Pakistan spin bowler, delivering the ball that took 
the wicket of David Williams, a West Indies batsman, on Thursday. 

Mushtaq Takes 5 Wickets 
As West Indies Crumble 


Fernandez 
Freezes 
A Red-Hot 

Davenport 


By Robin Finn 

' Nn- York Times Service 

• NEW YORK— The big-bang theory 
seemed to be working for Undsay Dav- 
enport When you're pushing 6 feet, 3 
inches (1.90 meters), there’s almost no 
excuse for not outmuscling opponents. 

Davenport had been playing fero- 
cious tennis lately, frightening the op- 
position with a barrage of power tennis 
that had vaulted her to No. 2 m foe 
world, the highest ranking for foe 21- 
y ear-old. Olympic gold medalist since 
she turned professional at 16. 

But Davenport has never scared Mary 
Joe Fernandez, and in a first-round mara- 
thon Wednesday night at the Chase 
Championships, Fernandez upset the 
bottestplayer on the circuit, 2-6, 6-4, 7-6 
(9-7). The match took two hours and 18 

mTOntt^esynd wqnirpH Fernandez not Only 

to save three mamh points but also to 
maintain the patience necessary to work 
her way to a fifth match point of her own 
after Davenport nullified her first four. ’ 

Davenport entered the year-ending 
event on a tear, with three tournament 

titles finom her last six outings and a near- 

miss Sunday in foe Advanta Champi- 
onships, where the top-ranked Martina 
Hingis won her 12th title of foe year. 

The llth-ranked Fernandez entered 
the Chase with far less to brag about “I 
didn’t come into this tournament with a 
lot of confidence,' ' she said. 

But Davenport faced a too-familiar 
rival, foe player who was once her best 
friend but is now a peripheral friend 
after a disagreement over foe disband- 
ing of their doubles partnership. 

As befits players who for many years 
considered themselves equals, they 
shared a sisterly 3-3 record in singles 
against each other heading into their first- 
round confrontation. But when it was 
over, foe balance of power in their rivalry 
had swung in Fernandez's direction. 

“I fried to dictate as much as pos- 
sible, as much as she would allow me 
to,” Fernandez said. “If you don't take 
the first ball away from her, you’re in 
trouble, so I tried to take the ball as early 
as possible, tried not to give her time to 
set up and put die balls away." 


Lightning Leaves Its Losing Streak Behind 


The Associated Press 

It wasn't foe clinching game of foe 
Stanley Cup Finals. It only seemed that 


Something finally went right for foe 
Lightning, which broke a 16-game win- 

WHLRouhpov 

less streak with a 6-3 victory Wed- 
nesday over foe New York Rangers. 

“This is not our season, but we 
needed to get a win under our belt,” Rob 
Zamuner said after scoring three goals 
in Tampa Bay's first victory since Oct 9 
at Chicago. “It has been frustrating. So 
many different tilings have beea said 
about us.” 

The Lightning fans celebrated in the 
stands as they watched their team clinch 
a victory ou home ice for only the 
second tune this season. 

The Lightning, who had scored a total 
of nine goals in the second period in 
foeir first 20 games, scored four in foe 
period against foe Rangers. 

Jason Wiemer, Mikael Renbeig, 


Patrick Poulin and Zamuner scored in a 
12: 14 span as foe Lightning matched its 
highest score of foe season. 

Colin Campbell, the Rangers coach, 
said. “Some guys actually took tonight 
off orcan’tplay back-to-back.” His team 
beat Florida, 3-1, on Tuesday night 

Bruns 3, Psngums 3 Thirteen years 
ago, Mario Lenrieux went past Boston 
defenseman Ray Bourque to score his 
first goal in the National Hockey League. 
On Wednesday, Bourque spoiled 
Lemieux’s retirement party m Pittsburgh 
by scoring the final goal as Boston and 
the Penguins played to a tie. 

Bourque scored his sixth goal of the 
season at 13:26 of foe third period after- 
Neil Wilkinson's 90-foot (28-meter) 
shot from the red line put Pittsburgh 
ahead 3-2 at 7:25. 

The Penguins staged an elaborate 30- 
minute pre$ame ceremony to officially 
retire Lemieux’s No. 66 jersey, with 
Lemieux briefly teaiy-eyed during one 
of many standing ovations. 

Huni cwiM 2 , CRBldk ii u .1 Jeff 
O’Neill scored midway through the thud 


period as Carolina broke Montreal’s 
five-game winning streak on the road. 

The Canadiens were shooting for 
their first six-game winning streak away 
from home in 15 years, but O’Neill's 
third goal of the season ended that 

Mapfa Loafs 3, Flyers f 111 TOTOUtO, 

Igor Korolev set up goals for Sergei 
Berezin and Mats S undin as the Maple 
Leafs beat Philadelphia for the first time 
in four years. 

Glenn Healy made 29 saves for his 
first victory in six starts for Toronto. 
The losing goal tender. Garth Snow, 
stopped 18 shots. 

Mandcm 3, Rad Wings 2 Tom Chor- 
ske broke a tie early in foe third period, 
as New York won in Detroit. The goal 
was Chorske’s 200th NHL point and his 
third goal in the last three games after 
not scoring in his first 18 games. 

Stars 3, oilsn 2 In Dallas, Darryl 
Sydor had a goal and an assist as foe 
Stars kept Edmonton winless in Novem- 
ber. Jere Leh linen and Craig Muni also 
scored for the Stars. 

Btockhawks 4, Mighty Ducks OChica- 



. . iwwCafen/Bmnr™ 

Mano Lemieux, with fwo of his daughters, waving to tbq Pittsburgh fans, 
go goalie Jeff Hackett, hampered by an hawks’ defense, Chris Chetios scored 

ankle inrnrv and winless in five an_ his first anal nf fh» a > ; 






i 


ankle injury and winless in five ap- 
pearances this season, shut out Ana- 
heim. Hackett stopped 27 shots. 


his first goal of the season, and Alexei 
Zhamnov, Gary Suter and James Blade 
also scored to help Chicago end a four- 


In a game dominated by foe Black- game winless str eak. 


SCOREBOARD 


Escorts Sc Guides 


BELGRAVIA 

ORCHIDS 

LONDON -BIROPE 


THE (WEST & WE MOW SMCERE 



Eicon Agamy CtsdB Canto Wdeom 

TEL: LONDON ++ 44(D) 

0171 589 5237 


YASWNES 

EXCLUSIVE TOP FRSHNN AND 
GBJUHE NTL PHOTO UCOaS 

ARE NOW AVAILABLE FROM 


MODEL UNK 

LONDON PAHS NEW YORK 

AND ALL MAJOR CflES N EUROPE. 
UD0LE EAST, USA A CANADA 
ICflERS SEE VASUNE 

WmOURHffiPOBTFaiO 


+444 (01 7000 

ROYAL RATVIM BO 


100 822 822 

ESCORT SERVICE 


‘ALL EUROPE * ULAN * ROME 

Top Escort tor EfctflB35J0t)0KIort 

AMSTERDAM • DREARS 1 ESCORTS 
and One Dak Saws hr Hm or ta 
T*+llfll2M4a2«i/M«Ut 


INTERNATIONAL ESCORTS 

Woritfs FW & Ntast Bateshe Sente 
IMA, Beatty Oram, Actasus 
Bmrt— « , H oo tes wo, Socntoriee 


ta te bgurt Tata Ctm pm lO M 
■RkWt 'Best hi New Yo* 1 by Nra 
Yak Man. Feebrad to rtamatoa New 
ktefc & TV. Vkfeo tapes & Runs av* 
aUe tar selection. Cral cads accepted. 

Hdqtrs: 1-212-765-7896 


USA A WORLDWIDE 


HIGH SOCIETY 

MrtMde Ettcu&w Escort Sanies 
London Pans Zorich Brants 
Pogue Sfegtaxse Qeraeqr USA 

HUO ++44 W 7000 444476 
MoOHgMOCNly.net 


VENUS IN FURS 

24HR WOftDWK ESCORT &BMCE 

LONDON 0171 362 7000 

Al aife A*sn» bootings tatamo 


APOLLO ESCORTS 

HTAxtiniMonabit 

+3WH-20J-W 


HESTS HEH 90CETY*VENNA < PAHS 
RmeMTumsrGacvA'UNCH 
Mantam* Escort i Tmf 
Viaons ++43/WJS 41 (K H crafl tads 


AmMuJAHHC escorts. 

Far He and She. Escorts me 1967 
M +31SS20 630 245 W421 3827 


ARST0CATS Escort Service 

3 Shouttun SL Lenda W1 
0f7l 253 0090 






ESCOfTOGUDE ffiHVKE. 

Z7 yeas * to top for M ktads al anftr- 
tainwL PtUB rotate to tawr duos 
A store. SBOhmdenlBde 64, Amstef- 
ten +31 20 670133a 


CHRSA ESCORT SERVICE 
51 BMBCtWB Place, London SW1 
Tdt B171-5M 1513 ’ 


*0.1 PARK AVENUE Escort Santa 
Sbmtag Uodafs and Air hostesns w* 
tote as yow oonpamn. London Tot 
0171 876 2892 Herat oris 

GENEVA PRETTY WOMAN 
CM 022 / 346 00 89 Bunt Agency 
lAUSAME-MONTT&JX- base. 

ZURICH -CRHXT CARDS 

FAR EASTERN 0850 521 074 
Japanese, Asian, Koran, Gvttua. 
TiU, CNneso, Mabysbn s Ptitym 
London Escort Agency 

TWS CflPANY . Hnt Cbs Prfrtte 
Hostess-Bad Santa lor cofexed gen- 
tlemen vsfathg London. Tet Harris 
om 494 4B33 eras ante 

BEAUTIFIS. 18MCT1E 22 yegjs Sun- 
ning figure Fartnhel Chaining FVtaa 
escort Santa Louden 0956 135 996 

* BBUf * B5T0~ 

Escort Santa 
Tel +493HHH93715 

‘BSNA-mAHKRJRT- ZURICH* 
**CARISMA ESCORT AGBCr 
Tet 0041-848 00 70 77 - Cm* Cards 

BLACK BEAUTY ESCORT SBMCE~ 
Bdudnr Segant Educated A Friendte 
London t Heafrow. m Biaszsi .Cods 


TOHM* ENGUSH/KOLNBOIW 
D U88 BJOHFIE88EN A ALL AREAS 
ESCORT SfflVEE - 021108 31 41 

"EXECUTIVE CLUB" 
WN00N ESCORT SERVICE 
TH: 0171 722 5008 Crat Carts 

ELQWSE ESCORT SERVICE Pretty 
Ftafcto Lafes Top dare venr ttserea 
London: Tel 0171 371 9772 

EMLY CULTURED Genuine Eagbh 

M Pittas Escort Service. London 
01 8552Z1B <V 0956 810250 

EUAMUELLE’S ESCORT SERVICE 
” FRENCH SPEAKNG “ 

LONDON oily 0171 2G2 2886 Al CMS 

FRANKFURT* WESBADSI 
ABaefta 1M pritat escort & fcani sa- 
rtor. TeUf?T- 62 44 552,24 ta. 

•■HIGHLIGHTS ** 
FRANKFURT WTL ESCORT SERVICE 
PLEASE CALL 069/ 55 88 26 

LAURBt BLACK BEGANCL 
Uature. Rutenasque, Pritaa Escorts. 
212-753-3833 

**• HADM) HAfBfONY *** 

EXCLUSVE TOP CUSS Escort Senta. 
TM 34-1-38635.88 or 908313064 

HA LOURE ENTERPRISES 
TEL 212-608-1741 
Nm Yort Escort Senta 

MONIQUE Beautiful Bhmd 
High Class Private Escort Santa 
KfeflSfcgUl Tet 0171 835 1685 

NATHALIE CHAAme and vary 
Fftady Yorag Bnnate, Private Escort 
Sants London Tet 0411 358 566 

•"■NEW YOUNG ESCORTS”* 
London’s Number One Escort Senta. 
Tab 0171 834 333S - 2«ra 


MCOLE YOUNG HOOEL, V 
S Friend* ftitae Exert 
Undon Tto 0410 789 253 

■2URKH 1 CAR0L8E* 
Escort S enta 
Tto 077 790872 


BASKETBALL 


NBA Standi Was 


Miami 
New Jeney 
Ortando 
New York 
Bolton 

WosMngtoa 

PttfMHpMa 

c 

Atlanta 

amkffle 

Chicago 

Mltrai tea 

Indkma 

Cfewtand 

Detroit 

Toronto 


ATLANTIC aiVtSKN 
W L 


CENTTML DIVRBOM 

u o urn — 

* 3 4(7 4 

6 4 400 4tt 

6 A A 00 4V. 

i 5 Mi 6 

4 6 400 6* 

A 7 M4 7 

1 9 .100 9V4 


Mtanl 29 (Hanfcnrar 11). Mon Inal 

Podtete 17 34 as n— n Boston 

CtarWto 38 M 27 27— IK PMstwitfl 

P: WafaoeO-106-71A RHor 8-18 M IK Oflwio 
Sabonb 7-M 3-4 1ft C:Rks 8-1S04 27, Dhnc CnnUUw - 
7-10 M 19. IMwumIs— P ortland 44 (So bonis Buffalo 


14 6 2 30 72 47 

11 7 4 26 58 52 

9 9 5 23 62 £2 

9 9 4 27 62 57 

9 10 3 21 60 63 

5 10 4 14 47 61 


CB 

8L Chortotte 45 (Mason 151. 
A»iste— Portland 25 (Andeaon 10L 
□fagotto 26 (Water 91. 

m 

eafnuu.’amiaer 11 
W L T Pts 

1 

GF 

6A 

V, 

Ortando 28 22 14 31 »- 9* 

Si Loots 

15 

5 

2 

32 

72 

47 

VI 

aneirad 22 28 21 16 6- 93 

Dados 

13 

6 

4 

30 

73 

57 

1 

O: Strong 6-23 M 2ft Armstrong 7-8 3-4 1ft 

Detroit 

13 

6 

A 

30 

75 

55 

2Vi 

□ llganta 9-16 34 2L Kemp 8-2S 2-5 18. 

Ptioenix 

10 

8 

2 

2 

63 

56 

3K 

Itetamifa— Ortando 61 (Seftoty B). 

Chicago 

. 8 

12 

2 

is- 

44 

SS 

3K 

devtiond 56 dlgrastas 15). 

Toronto 

' 7 

10 

3 

17 

41 

57 


tWondo 25 (Armstnno 7U 
Clevetand24 (KnftpdS). 


McncotvntoN 
w L T Pts 

CP 

«A 

4 

•olden Stan 20 20 23 14— *7 

Cotorado 

. ID 

5 

7 

27 

57 

58 

SK 

SanAatoafa 2B 2S 25 24— IK 

Los Angeles 

9 

8 

4 

22 

72 

60 

4V, 

- GS: SpreweH 9-202-420, MmhaU 7-11 2-3 

AikMid 

8 

10 

5 

21 

56 

67 

6 

1ft 5A: Rottaon 4-12 13-I62T, Dunam M4 

San Jok 

7 

M 

1 

15 

57 

71 


WDWUTDnnaiON 

W L Pd GB 

Son Antonio 7 3 JI0 - 

i 4 AID 1 

UWi 5 5 .500 2 

Houston 4 S MA 2V, 

Vbnawver 5 7 A\2 3 

Data '3 7 300 4 

Denser Q 9 j0D0 6U 

MCdnc omsxjN 

LA. Lofton 10 0 1300 — 

Saa«o .8 3 .727 Th 

PtKI O nh 6 2 .750 3 

Portland 7 3 700 3 

Sa cram e nto 3 7 300 7 

LA. CBppers 1IO J91 9H 

Golden Stole 0 p jooo 9» 

vrmnsMv s msw* 

Boston 30 24 25 19-100 

ItoWtenor 16. 24 32 24-108 

B:WaBnrlO-16 1-221, McCarty 7*11 34 1& 
NJ; WlHftmtt 8-12 11-14 27. Casetfl 8-T74-8 
! 20LtWboaods— Boston 49 tMoCartjrlffl. Hew 
Jersey TO WOtoms 13). tostoh^SoEten 22 
(KitartS], New Jersey 21 {Doughs 6). 
WasUegtM 21 14 23 2S— 86 

PWhdetoida 21 2i 25 23— 97 

W. Munay 8-1S6-6 24, Howard 7-18 1-2 IS 
P; hraraon 8-15 1W7 29, Weottienpoon Ml 
4-4 16. ta ta sand* - Wash ington 57 

{Slrtddond 10), Rdkxtofptrio 56 (Cotomon 
12J. AMWs-Washhgton36 (SMcUand 13). 
PMadefiMo 19 ttadoan S). 

ULOtepen 20 35 » 28—113 

Mini 45 30 29 18-122 

UL-Monny U-18 |-r 3ft Robinson W 1-2 
Ift MiHontownyl 3-203^ 31 Austin 11 -154- 
5 24. fte fteu ta Los Angels* 42 (Murray, 
Wright a. Mlonol 50 (Brami 10). 
Astista— Loo Angdes 2B [Rtohantaon 13), 


l-519frtooaid5 G olden Stale 46 tShawB, Edmonton 
San Antonio 99 (Robinson 11). Vancouver 
Assists— 0MddenSlote34 (Bogues6COtoc6L Caigair 
Son Antonio 24 (Johnson 7). n 

Vtaeomr 13 25 27 20- 17 BMtM 

sertto 38 18 22 29-187 


■5 12 5 15 51 76 

S 13 3 13 S3 74 

3 14 5 11 54 73 

BMrm Mi n us 

1 0 2 8—3 

1119-3 


- PW MB*™ 7 (Carter, Donato) Z 

L fedfe Mlayt 8 ®nta Tamert TUd Patoto B- 

Swoorwy 1. i P, WBkhson 2 (TaiBMl & B- 
3 fT ™ Pb “ WB85) ' Bcnmiue 6 CG4 Affieon) Ontlte Nona. 


SgfcatPoytonlW ^ 

’-A. Lfffcftft 27 38 S 34 *118 l B ft i 

MiSogflolto 10-122^21 Mmftofy4-T3W .... L ! ri 

15f LA: Jwija 12-18 3J 31, QWeat 1T-144J' n„i iwu* NUSaiavw * nUbM, 

Eewraon 6 (Wfesloy) TiH Period: Caraftm, 


LAS Angeles 50 1 (Meal 


27.01^ 7), Las. . 

AngsM3B CRsna-n. 1 3-7-14-34. CoroOna 4-11-13-27. 


ESBtoLjEAaUE 

Tuik Telecom 67, Benetton Treviso B4 
CnmllaSpttBa Porto 82 


ftc t fiTrtir iniM nfliiiiiMm nnnr -ji - Ti . j iTO Rtobay 5 [YMtovt tttivOMv) 4 N.Y^ 


CE HOCKEY 


AruumeDmam 


New Jeney 

PModeiphta 

VtaMngton 


N.Y. Istonderi 9 8 4 - 22 »-■ 52 ' 11taPedtaP^rtlhn4flRoilefcw‘nierten) 

N.Y.Ranoea 7 8 7 21 57 57 Stats «B goto! P-W3-3H T-94&-2I. 

™rtd° 6 10 4 ” 16 -43 » M.Y. lUM dsrt - ••• 8 2 1—3 

Tampa Bay 3 16 2 8 40‘ 7S Detroit 11 9-2 

wOffnflusTDmqoM Pvriot D-LKWrom 9 (Kodov, M(jjpny) 


usTDmsHM ,_J%*IP*ito*D4JtWrom9(Knrio%Minptirt 

W L T Pts CP CA ~s kerne PMmk totJCnno l tLapolnto) a 


N-Y^Pfdfly 12, 4, D-Eitaton 1 (Ytenmm) 
TftWPwfaft N.Y.-Onske 3 (sS2 
McW Shots on goat: N.Y.- 4^9_i 9 . D- 
14-11-7—32. 

^Hto. 8 , i_2 

O 3 0—3 

FWPwte* None. Seo»e Port*: Mytfor 
tp «■ Z DiohBnon « 
a-ongentomrysai Syrfor] Cpp). * D-, Murt 1 
uwraaiia LangaibniivHil 4, E-McGMs 3. 
TWrt Portwfc E-Smyfti 7 (McGfflh. Ammo 
(WL Stats on foW: E- 4-4-7-15. D- 12-^ 

2JSS. J2 2-4 

•Wlwo ■ I I «Q| 

Ftat Period! Nano. Second Period; C- 
Ztwmw 3 (Dorc, Fcfvwrt Z C-Cheta i 
Rhanta) YMnl Pettod: C-Satar 2 (AmoMw 
«mwr0 (pp). 4, C-BtoA 3 CShanfc ComS 
Stab m gottC- W4-12-35. A- H-3-13-27. 


CRICKET 


^•“"TBniamHtonr 

TMunsaer. m mokau. wu - 
IndaTl-O ■ 

y rtytaW-Ns waeuia 
TUT, 1ST DAT 

AtahjAa:32-l 

’•KtaAW.WSSTlHBin 

FtoSTTEST.CTHOer 

WesMBdteri51 and 211 


ILY.Itavirs 8 12-3. 

- Traps Bay 8 4 2-6 

first Perio d ; None. Secern! Petted: T- 
Wtarw 5 CSoSmihn, HamriBO (pp). 2, T- 


SOCCER 


,t “"' 3ra,lHM0Dn ? 3 ' PooBn 2 {DeBrtnh Uraghaw) &T-ZraKJner 
4 (Longtoic, Wonovi ItM Pertadr T- 
ZoFnmcf 5 (Yseboerl) fcti). 7, N.Y^Cepne5 
(Gam, LoFontninej (pp). & N-Y^Ceone 6 
NHL Stands nos 0 j»Wv LnFontoine) (pp). 9, T-Zammer « 

(YMnert Rwtatgj (en). state ra. goal; 
aieamaM H.v-*-iwo-4tT-B-w-iwi.. 

iNTIC DIVISION Phtaitate . ® ■ 1—1 

W- L T- Pti CF sa. -‘Ttorrato- l * *-3 

15 5 0 30 <2 35- FMPertoteT^tehnsonfiCSdmekteaoili) 
13 7 3 29 a SA (ppL Second Periedi T-Baerin 6 (Karaiev. 

12 7 3 27 <6 56 SumW- 3 , T-Sendln 7 (Koralev, BensM 


•OHAHROATteunsioir 

totoroherSCLVIL Bochum 1 
JrtSV Duatwrg ft Hamburg SV 0 

Munich l, FC Cologne 0 
FC Moenawn. v. ! 


TENNIS 


** n, ®«»-9‘WWYt>« 

M irtWYfwurm 

Joe Fernandez. UnBed sfc*- ^ 




■;.zm 









/ 


Si* 


r* 



CM. \£g l 

h. nvrTTTPN ATI ON AT , 


+ 4 



INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 21, 1997 


PAGE 23 


SPORTS 


t When It Comes to Ironmen 9 
A. C. Green Has the Voltage 


% Michael Wilbon 


Harry Gallatin is sixth with 682, followed by 
Michael Cage (665), Jack Twyman. and John 

Cal Rir»Wer>'c ,T Stockton (609) and James Donaldson (586). 

number of conser*^ ^ rn “ e( * 05 ^°. out there every single night for 1 1 




hieh sooi2 S ? : “ live games P^ycd is so years and take the pounding Green has taken, 
an vtM?. -LL neu ? un S. so disproportionate to and not miss a game, shouldn’t 


anvrhinn _i. ' ;““6. uispioporuonaio iu auu u wi uun a game, shouldn’t be diminish ed 

ncmjvnJLfr-i ^5. v ® ever beam it’s almost in any way. 

error ir’s *« l~’ 478 - * ts hke a typographical Yon know how hard it is to play 82 games 
number reas0n - As a resnft, any once, much less 10 consecutive years and 

anvrWnJv' r a mU,on shnply doesn’t mean counting? Isiah Thomas, who has to be one of 
Which raore - the toughest men ever to play in the NBA, did 

dav nioht sI?rSt ,Tie !2 A.C. Green. On Thurs- it once. Charles Barkley has done it once, as a 
h: ' Qn-fv; m Green was due to play in rookie. Magic Johnson? Never did it. Dennis 

moving him past Johnson? Never. Danny Ainge? Not once. 
ItmoJZt of the old Buffalo Braves for the There’s not an excuse-maker or a wimp in the 

n streak in National Basketball bunch. Those are guys who would rattier die 
'wmob hway than leave the lineup, and they couldn’t do it 

U doesn t sound like much, 907, does it? " 


Ripken, the third baseman for the Baltimore 

’t San C f’ EL“ St t S, ,Dfc so ’ though, because he 
' CIS % h? * n Reunion Arena when Green 
breaks Smith s 14-year-old record. 

m ? y ** ^ “cest touch of all, dial 


i 


V 

- . 











Green has had flu, sprains, dislocations, 
teeth knocked out But he’s played. Now, you 
can say t hat Green has never been a great 
player and that would be fair. Great, no. 
Valuable, yes. Don’t let last season and this 
season playing in obscurity with a sorry team - 


y.L'1 u* . , * WIW.U vx UUf UUU PWMVU 111 UUhUUiUy WXLU A JUIiJf IU1U 

fnwi' strea * may numerically dwarf in Dallas make yon forget that Green was an 

^ *P , — w h° is an incomparable important contributor to back-to-back Los 
basketball wacko — thi nk s enough of what Angeles Lakers championships in 1987 and 
Green has done over the last 11 years to get on 1988. 

a plane and travel 1,000 miles (1,600 ki- You know who led that team in rebounding 
lomerersj to help celebrate something he is both seasons? Not Worthy, not Kareem, not 
umquely qualified to appreciate. Pterteps. if Magic. A.C. Green. 


us to 


It’s .probably ap pr op riate that the least 
flashy member of ’'Showtime” has outlasted 
everybody else on that team. I’ve been cov- 


nothing else, that will nudge die rest 
pay a little more attention. ■ 

It s a waste of time to compare streaks. 

Earlier this fall, I made the stupid mistake of 
saying that Jerry Rice’s streak of 176 games in 
the National Football League was raore im- * - 

pressive than Cal’s streak because Rice put his Green Is. 

life on the line every time he ran a slant pass Until now, he’s been the butt of a lot of 
over the middle into the path of some maniac locker room jokes because of his vow of 
like Lawrence Taylor. celibacy until marriage. A 34-year-old virg i n 

That was a stupid thing to say because to do in an NBA locker room? Playing for the team 
anything every single day for 2,478 con- of Wilt and Magic, no less? Half the people 

i t.: j 



More Is On Tap 
In Bizarre Week 


For Big Leagues 


CimfMty Om- Stiff FrMH Ivpxh/s 

SCOTTSDALE. Arizona 
— So far in baseball’s bizarre 
off-season, the American 
League manager of the year 
has resigned, the National 
League Cy Young Award 
winner has been traded and 
the World Series champions 
have been conducting a gar- 
age sale involving their key 
players. And it’s" been only 
three and a half weeks since 
the World Series ended. 

The action was particularly 
frenzi ed on Tuesday when a 
string of trades was an- 
nounced at the end of the ex- 


BaSCB ALL 


4 


secutive days beyond getting out of bed is 
mind-boggling. As is r unnin g s lant patterns 
against 220-pound (100-kilogram) safeties 
coming in helmet high at 40 mph. As is 
playing 964 consecutive National Hockey 
League games, with sticks and pucks and fists 
and elbows and skate blades flying, which 
Doug Jarvis did from 1975 to 2987. 

Anytime you do something basic and rudi- 
mentary in professional sports that nobody 
else has been able to do. it’s worthy of praise. 
None of A.C. Green’s peers is even close to 
907. The top- 10 is list foil of old guys, with 
only two active players. 

Red Kerr is third at S44, Dolph Schayes is 
fourth with 706. Bill Laimbeer is filth at 685, 


don’t believe him and the other half think it's 
hysterically funny. 

Maybe he’s simply one of the strongest 
people in the NBA or in all of sports. Maybe 
guys like Green and Cal Ripken have a dif- 
ferent constitution than other great and dur- 
able athletes. Maybe the discipline that serves 
Green so well in his personal life is the source 
of the strength that will allow him to play 
when other incredibly tough men cannot. 

When he takes die court against Golden 
State, even if only for a minute and even if he 
doesn't score or grab a rebound, A.C. Green 
will have accomplished something worth- 
while and uniquely special in sports, whether 
the number itself reflects that 


The Nets’ Sher man Douglas bringing the ball up court against the Celtics* Tyus Edney. 


A Rude Return for Pitino 


By Jason Diamos 

Netv York Tunes Service 


EAST RUTHERFORD. 
New Jersey — Rick Pitino and 
Antoine W alker will always 
have fonder memories of Con- 
tinental Arena here. The last 
time the two were there to- 
gether, they helped cut down 


Lakers Are on a Roll and Having Fun 


The .-\sMKiotcd Press 

Los Angeles ran its season-opening 
unbeaten streak to 10 games by romping 
past a talented young Timberwolves 
team. 

“Ten and 0. Were on a roll,” said 
Kobe Bryant, the Lakere forward after 
Wednesday’s 1 18-93 victory. *Tm hav- 
ing a lot of fon. Let’s keep it going.” 

The Timberwolves are the only NBA 
team with three players averaging 20 or 
more points, but Tom Gugliotta, 
Stephen Marbury and Kevin Garnett 
were no match for the Lakers. 

Bryant and Shaquille O’Neal keyed a 
21-6 ’second-quarter run that gave the 
Lakers a 46-33 lead. Garnett drew the 
Wolves within four late in the period, but 
they got no closer the rest of the way. 

Tfers 97, wizards M Allen Iverson 
sewed 29 points, and Philadelphia 
picked up its fust home victory and first 
against an Eastern Conference oppo- 
nent. 

Derrick Coleman had l3poinrsand 12 
rebounds, but after the game Dr. Fred 


Bove, Philadelphia’s team cardiologist 
announced, that Coleman would be side- 
lined for at least two weeks because of a 
pre-existing irregular heartbeat. 

SuparSoaica 107, GhrazfMS 87 In 

Seattle, Gary Payton scored a season- 




high 31 points for the Supersonics. He 
also handed 


out 1 1 assists. 

Vancouver fell behind by 25 points in 
the first half but closed to 84-80 with 
6:02 left. The Sonics responded with a 
23-7 blitz to finish the game. 

Payton played the entire second half. 
He was at his best in die fourth quarter, 
scoring 13 points. His opposite number, 
rookie point guard Antonio Daniels, 
scored 13 points and had four turnovers 
in 33 minutes. 

•‘When All-Stars know they’re going 
up against rookies, they're going to 
show them why they’re an All-Star,” 
Brian Hill, the Vancouver coach said. 

Spurs 108, Warriors 87 In San Ant- 


onio, David Robinson scored 21 points, 
and Tim Duncan added 19 as the Spurs 
dealt winless Golden State its ninth 
straight loss. 

The Spurs hit a season-high eight 3- 
pointers. including three by Chuck Person 
and two each by Sean Elliott and Jaren 
Jackson. 

Homata 1 06 , TVaii Blazers 92 In Char- 
lotte. North Carolina, Glen Rice scored 
29 points and teamed with David Wesley 
to fuel a third-quarter run by Charlotte. 
The Hornets outrebounded Portland, the 
NBA’s top rebounding club, 36-33. 

Magic 96, Cavaliers 93 Orlando erased 
a 20-point deficit to win in Cleveland 
“Thai’s what you have to do on the road, 
hang around,” said Chuck Daly, the Or- 
lando coach. “We didn't even hang 
around, and somehow we stole il” 

Haat 122 , Clippers 113 In Miami, the 
Heat scored a franchise-record 45 points 
in the first period and handed Los 
Angeles its seventh consecutive loss. 
Tim Hardaway scored a season-high 33 
points in 31 minutes. 


the nets after Kentucky won 
the national championship in 
1996. On Wednesday night, 
both were long gone before 
the final buzzer sounded. 

Pitino's third-quarter ejec- 
tion (which preceded Walk- 
er’s forced exit early in the 
fourth) meant that the Celtic 
coach did not have to watch 
the finish as the New Jersey 
Nets beat Boston. 108-100. 

Walker was ejected for el- 
bowing Chris Galling with 1 1 
minutes 33 seconds left in the 
game. Even so. Walker Jed 
the Celtics with 21 points. 

The game marked Pitino's 
return to the building in which 
he recorded his finest mo- 
ment as a coach. This was 
where Pitino’s Kentucky 
Wildcats won the National 
Collegiate Athletic Associ- 
ation tournament champion- 
ship over Syracuse in 1996. 

Pitino has three players 
from that squad — Antoine 
Walker. Walter McCarty and 
Ron Mercer — playing for the 
Celtics this season. 

“We all have great, great 
memories of this building,” 
Pitino said before the game. 
“If we lose tonight, that will 
aJ I be erased.” 

Pitino had played teams 
coached by John Calipari, 
now the Nets' coach, twice at 
the Continental Arena, Ken- 
tucky beat Massachusetts in 
the regular season in 1 994 and 


then again in die national 
semifinals in 1996. 

On Wednesday. Boston led 
by as many as 10 points in the 
fust half. But the Nets took 
the lead with 2:24 remaining 
in the third quarter. 

Pitino was ejected 57 
seconds later. He became in- 
censed when Jayson Willi- 
ams was nor called for a foul 
after battling with Andrew 
DeClercq for a rebound. De- 
Clercq went headfirst into the 
first row of photographers. 

A few choice words later 
and a referee, Greg Willard, 
had ejected him. 

Walker was whistled for a 
flagrant foul for elbowing 
Gatling in the face, another 
referee, Benue Fryer, imme- 
diately tossed Walker, too. 

“i " didn’t touch him!” 
Walker said. “He’s faking!” 

• ‘It was just a graze, nothing 
really to write home about,” 
said Gatling. “But I was the 
recipient He shouldn’t have 
thrown the elbow.” 

Television seemed to sup- 
port Walker. The contact ap- 
peared minimal at best 

The two teams play again 
in Boston on Friday. 

“I live for these games,” 
Calipari said. “It will be a 
mua-s tinging, old-fashioned, 
in-your-face, whack-you-as- 
much-as-I-can game that 
means something for both or- 
ganizations.” 


pansion draft in Phoenix. But 
more big trades and several 
major free-agent signings are 
likely to be on the way. 

Virtually every curious 
thin g that has happened in 
baseball's strange off-season, 
with the possible exception of 
Davey Johnson's resignation 
as the Orioles’ manager, can 
be traced to economics. 

The Seattle Mariners are 
listening to trade offers for 
Randy Johnson because they 
don't want to pay tire sport's 
most dominant pitcher $11 
milli on or more per year as 
pan of a contract extension 
after his current deal expires 
following next season. 

The Montreal Expos added 
Pedro Martinez, the Cy 
Young winner, and Mike 
I jinsing to the long and dis- 
tinguished list of players who 
have left Montreal for finan- 
cial reasons, and the club still 
might trade shortstop Mark 
Grudzielanek. 


The world champions, 
which dumped their left field- 
er, Moises Alou, last week, 
jettisoned the centerfielder 
Devon White and the relief 
pitcher Robb Nen. 

More trades are expected. 
Dave Dombrowski, the Mar- 
lins' general manager, has 
had talks about his top two 
starting pitchers, Kevin 
Brown and A1 Lei ter. The 
Boston Red Sox may also be 
about to trade John Valentin, 
the disenchanted infielder. * 

The free-agent market 
should be about to heat up, 
too. The Atlanta Braves traded 
Fred McG riff and the S 10 mil- 
lion he will earn the next two 
years so they would have 
some fiscal maneuverability. 
They wasted no time, meeting 
Wednesday with Jeff Borris, 
the agent for Brady Anderson, 
the ' Baltimore Orioles’ star 
outfielder. 

Hie expansion franchises, 
meanwhile, aren’t being 
bashful- The Arizona Dia-. 
mondbacks’ owner. Jerry- 
Colangelo. raised plenty of 
eyebrows among baseball ex- 
ecutives by signing free-agent 
shortstop Jay Bell to a five- 
year, $34 million contract on 
Monday. He then added third 
baseman Travis Fryman and 
White to the roster. 

Thus, in the space of two- 
days, the Diamondbacks ac- 


quired three players whose 


The Florida Marlins lopped 
$7.5 million from their 1998 


payroll, raising their total re- 
duction for the season to 
$12.5 milli on and their reduc- 
tion in total contract money 
owed to $38.5 milli on. 


combined 1998 salaries are 
greater than the entire 1997 
payrolls of the Pirates and the ■ 
Athletics. 

Bell, Fryman and White- 
have salaries that total $15; 
million for next season. Even 
if Arizona paid everyone else ' 
the minimum major-league, 
salary, their first payroll 
would be $18.7 million, ex-, 
ceeding the 1997 payrolls of 
Pittsburgh and Oakland, as; 
well as those of Detroit and- 
Montreal. (NYT. WPV 


Fight Over Mick Memorabilia 


New York Times Service 

NEW YORK — Lawyers for Mickey Mantle’s estate 
are battling with his former agent over her right to sell 
personal items such as the late New York Yankee's neck 
brace, bathing suits, worn socks, flip-flops, golf shoes, 
letters, expired credit cards and sweaters at a memorabilia 
auction Saturday in Manhattan. 

Mantle died of cancer at 63 in 1995. His family disputes 
the ownership of much of the collection by Greer Johnson, 
the agent, who was described by the estate’s lawyers as a 
former girlfriend- “We had a wonderful personal re- 
lationship,” Johnson said Wednesday. “These things are 
mine, they’ve been in my possession for eight, nine, 10 
years. Mick gave than to me and signed them, or I bought 
them. I chose to do whai Mickey would have wanted.” 

The family's lawyers say much of Johnson's collection 
should have passed to the’estate. “It's hard to believe,” 
said Robert Fink, a Mantle estate lawyer, “that on his 
deathbed Mickey told her. ‘Take my sunglasses, take ray 
car-insurance card with my name and my wife's name on 
it’ And yon don’t give away your penicillin pills.” One 
auction lot consists of four prescription vials. 


PEANUTS 


CALVIN AND HOBBES 



I 


ere 

■e. 

en- 

ew. 

ties 

nch 

gto 


in 

id- 
















page 24 


INTERNATIONAL HERALD TRIBUNE, FRIDAX, NOVEMBER 21, 1997 


POSTCARD 


True Grit From Turkey Albert Mangelsdorff, a Strong Pair of Chops 


By Stephen Kinzer 

' fty yprt Hhb Scrvi'"' 

TSTANBUL — A gritty film 
Aabout Tmks who have been 
left behind by their country’s 
economic boom may have set 
a record for the greatest cine- 
matic return on' its invest- 
ment. 

' The film, “Somersault in a 
Coffin," was shot last year 
for $15,000. Only boors after 
postproduction was finished, 
a print was flown to Antalya 
and entered in the film fes- 
tival there. It won four 
awards, including best pic- 
ture, and then went on to win 
six more prizes at other Turk- 
ish festivals. 

“Somersault in a Coffin" 
has been shown at festivals in 
Chicago, Toronto and San Se- 
bastian, Spain, and has been 
hooked into Turin, Italy, 
Salonika, Greece, and Mont- 
pellier, France. 

; "This film is a real out- 
sider;" the director, Dervis 
Zaim, said in a telephone in- 
terview from San Sebastian. 
"It's not a love story, there’s 
ho killing, and it doesn’t have 

S lot twists. It’s about a Mr. 

tobody who confronts soci- 
ety and culture and environ- 
ment. Although it has comic 
elements, they aren't strong 
enough to mate it a mild story . 
It's sad and harsh. We have a 
lot to be sad and harsh about in 
Turkey, but it usually doesn’t 
come through in our films.” 

"Somersault in a Coffin" 
tells the story of a homeless 
alcoholic named Mahsun 
who earns his living by clean- 
ing toilets and catching an oc- 
casional fish in the Bosporus. 
He and his com panions are 

the kind of people whom 
Istanbul residents see every 
day but try not to notice. 

The film unfolds in and 
around a 15th-century fortress 
called Rumeli Hisari. which 
towers above the Bosporus 
north of die city center. Mah- 


sun hangs out in a ca£S be- 
neath the fortress where, by 
the owner’s calculation, he 
has not paid for his last 600 
cups of tea. He sleeps at con- 
struction sites and warms 
himself over small fires. 

Desperate for companion- 
ship, Mabstm climbs a fence 
into the fortress and steals one 
of the ceremonial peacocks 
that have been donated to 
President Suleyman Demirel 
by a foreign dignitary. Fi- 
nally, his hanger overwhelms 
his need for a friend, and he 
kills the peacock for food. 

In theme and cinematic 
style, "Somersault in a 
Coffin” recalls "The Bicycle 
Thief' and other ncorealist 
films of the postwar era. The 
editing, which gives the film a 
less-than-linear aspect, sug- 
gests that Zaim has also been 
influenced by American inde- 
pendent films and die Euro- 
pean New Wave of the 1960s. 


7-aim has made a few short 
films, including a well-re- 
ceived documentary about 
Turkish pop rrmsic called 
"Rock Around the Mosque,” 
but "Somersault in a Coffin” 
is his first feature. He wrote 
the script himself and used it 
to recruit a cast and crew, all of 
whom agreed to work free. 

Perhaps his greatest coup 
was landing one of Turkey’s 
most respected actors, Tuncel 
K ortiz. who has worked with 
foreign directors like Peter 
Brook and won the best-actor 
award at the 1986 Berlin film 
festival 

"When I was first asked, I 
tried to get out of it, because 1 
was already overloaded, not 
to mention the risk of catch- 
ing cold during those chilly 
mornings on the Bosporus,” 
said Kurtiz, wbo plays die 
second lead. "But in the end I 
agreed, because I saw that 
what these people were doing 
is very important.” 


By Mike Zwerin 

Internat ional Herald Tribune 


his last 600 TJ ERLIN — : Albert Mangelsdorff has strong 
leeps at con- D artistic-director chops. As strong as his trom.- 
and warms bone-nlavine choos. which are verv s tro n g indeed. 



$ 


bone-playing chops, which are very strong indeed. 

"Chops” literally means the mouth, or the lower 
part of me cheek. A bora blower who has well- 
developed embouchure muscles allowing for con- 
trol and endurance is said to have chops. 

The argot evolved. Chops came to be applied to 
any strong instrumentalist, a drummer for example, 
whether they used the literal chops or not. The term 
entered themainstream language to describe people 
who have imagination and staying power doing 
whatever it is they do. A film critic recently wrote 
that Harvey Keitel has strong bad-cop chops. 

Mangelsdorff became artistic director or the Ber- 


Mangelsdorff became artistic director ofthe Ber- 
lin Jazz Festival in 1995, replacing the Swiss com- 
poser and bandleader George Grontz. Hts third 
edition took place in the House of World Cultures in 
die Tiergarten earlier this month. 

Now 69 r Mangelsdorff is probably the best- 
known jazz musician in Germany, and one of the 
few European residents to place regularly in Amer- 
ican polls. Although polls do not impress him very 
much. “Wearenotin the Olympics,” hesays. "we 
are making music.". 

He was the first to develop the technique of 
mnltiphonics on the trombone, playing one aote 
and singing another at the same time. If the interval 
is favorable, and perfectly in tune, a third note, a 
sympathetic vibration, can also be heard. He plays 
all three parts of Duke Ellington’s "Mood Indigo" 
by himself. Chops. 

Ringing up record box-office receipts does not 
impress mm. Nor does programming the biggest 
names. His artistic direction is based on "less is 
more” — fewer stars, less pop orientation, fewer 
Americans. 

His first year featured German players; the 
second, French. This year, with no official theme, it 
was just unusual, period. 

Unusual numbers of trombone players, of wom- 
en (four female trombone players, three of them in 
an all-female big band called Diva) and of bands 
with unorthodox instrumentation. The continuing Forget the Olympics, says Mangelsdorff, “we are making music.’* 


However, he has no time off now. Forget hobbies 
. (be is a bird-watcher). His private life is on hold. 
Dreaming of dream programs, he wakes up in the 
middle of the night (So far there have been no 
nightmar es.) He walks on programming in hotel 
rooms when he’s on the road. Going through moun- 
tains of CDs and cassettes, he estimates he lisle os to 
90 percent of the materiaL he receives. This is a man 
with a highly developed sense of duty. 

Die late John Hammond, the legendary pro- 
ducer for Columbia Records who discovered 
Charlie Christian, Billie Holiday, Bob Dylan and 
Brace Springsteen, among many others, went 
about it in a very different fashion. In those days 
. demos were on reel-to-reel tape. They took up a fot 
of space and there woe many of them. Generally, 
be listened to no more than a minute or two of the 
first tracks. "You can tell in a minute." he used to 
say. Mangelsdorff feds that unless he hears an 
entire recording he will not be able to project an 
entire set. He comes from a blue-collar family with 
a highly developed work ethic. 

His father was a bookbinder. At the age of 14, 
the young Albert began to take violin lessens. He 
moved from his native Frankfurt to Pforzheim, 
near Stuttgart, to study with his unde, who was 
first violin in. a theater orchestra there. 

In 1944, at the age of 15, he gave up the violin 
because he couldn’t play ja 2 z on it. His elder 
brother Emil a saxophonist, was getting in trouble 


principal thrust could be read between the lines — 


musicians do not draw, that Americans must be imported in 
force for a festival to be viable. 

He considers American musicians who have lived in 
Europe for some time to be European. The Parisian resident 
trombonist Glenn Ferris, from California, for example. Bri- 
tain (Elton Dean, whose first name, it is said, inspired the 
stage name Elton John), the Netherlands (Misha Mengel- 


work either. 

A sergeant at the American Army base where he 
worked as a gofer for a while listened to Tommy 
Dorsey records. In 1947, Albert bought a used 
Holtoo trombone from a German musician for a 
two pounds of butter. Thanks to the American 
Army there was a boom for German musicians. 
There woe dances in officers’ and enlisted men’s 
clubs. Even mess balk had bands playing in them. 
Good trombone players were hard to rind. In 1958, 
Mangelsdorff became part pf a George Wein- 
sponsored all-star, mostly European assemblage 

called tiie International Newport Band. Gruntz was 

the piano player. 

he Olympics, says Mangelsdorff, “we are making music.** During the festival a prize sponsored by the 

musicians guild and called the Albert Maogels- 
berg) and Poland (Tomasz Stanko) were also represented. dorff Award was presented to the saxophonist Emst-Ludwig 

It bad taken arm-twisting to convince Mangelsdorff to Petrcrwsky, who had been well known in what was formerly 
assume the post When it was first offered him, he said, called East Germany. He has since been "unified” and 
“Give me three weeks to think it over." Then he said “no.” wodcs everywhere. 

It would take too much time away from his profession. ' The 1997 Berlin Jazz Festival reflected die host city. The 
You do not build strong chops by sitting in meetings or West gave a prize to the East — so history remains. An 
listening to other people play. Eventually he decided mat it inclusive international selection of musicians featuring 
was a responsibility he was more or less obliged to make Europeans in a city that fancies itself die future capital of 
room for. In all modesty, he was in a unique position to help Europe seemed tike a scene being born. Under construction, 


the deserving. 


as it were. Men and womea at weak. 


NEW YORK AUCTIONS 


PEOPLE 


A World of Its Own: Contemporary Art Just Keeps Going 


• # / 
% • 


• • 


By Souren Melfltian 

International Herald Tribune 

N EW YORK — Its fens have always felt 
that Contemporary Art lives and thrives 
in a world of its own. But this week, even they 
marveled in sheer delight at the auction per- 
formance of their favorite artists. 

The cold winds of the stock market tem- 
pest, which had caused trouble in Hong Kong 
.and restrained the buying itch ai the Im- 
pressionist and Modem 'Art sales last week, 
abruptly stopped blowing as if by some mir- 
acle. 

Christie’s had the unenviable honor of 
testing the waters first, on Tuesday night, 
with what professionals saw as a middle-of- 
the-road sale. Undaunted, Christopher 
■Burge, chairman of Christie’s America, 

.opened the proceedings with smiling aplomb. 

Charmed by fee smile, lulled by fee clipped, 

Oxbridge intonations of fee very British auc- 
tioneer or mesmerized by fee hypnotic effect 
of Kenneth Noland's concentric yellow, red, 
purple and blue circles, fee room swung into 
bidding. 

The Noland rose to $96,000, more by 50 
percent than what Christie’s had hoped to get 
And the sale was on track as if not me faintest 
bleep had ever been heard in the financial 
markets. 

There were some bouts of enthusiasm. 

Mark Rothko's two rectangular masses of 
reddish orange compressing a white bar be- 
tween them had been illustrated upside-down Alexander Caider’s "Aspen” went for $651,000. 
in fee catalogue, the room heard from Burge. 


• - • .V** * ■ 

' u ■ - - ; A*# Vi A/r ■ ■ A ; - 



by George Segal's "Man on Bench," a life- 
size realistic figure molded in white plaster 
and seated, indeed on a green garden bench. 
Parked on the landing that leads up to 
Christie’s reception desk, "Man on Bench’’ 
looked like a character from "Waiting for 
Godot” wondering why he, no worse than 
others, had failed to attract a single bid. 

The scene at Sotheby’s on Wednesday 
offered even greater cause for marveling. Die 
stage was set by Tobias Meyer, international 
director of Contemporary Ait, whose sense of 
space and proportion in the viewing display 
was matched by the remarkable, innovative 
catalogue presentation. 

Meyer's candor was equally striking. The 
quote from John Cage he excerpted to ac- 
company a neon and glass screen by Bruce 
Nauman read: "I have nothing to say, and I am 
saying iL” The screen only flashed words, 
from “I was a good boy” (No. 11 to ‘‘Dus is 
Play” (No. 48), "I’m Bored" (No. 53), and 
"You Pay’’ (No. 94). And pay, fee room did 
for these neon words of wisdom: $2.2 million, 
a world record for fee artist 

That day. Contemporary Art gave the full 
measure of its inscrutable character. Who can 
presume to understand fee meaning of four 
piles of square white paper laid on a square 
blue cloth, or explain why their particular 
untitled work set a record for fee artist Felix 
Gonzalez-Tozrcs at $60,800? There followed 
other records, one more impenetrable than the 
other. A suite of five solid black rectangles in 
graphite on white paper called "Grove Group 
(1-5)” feus became fee most expensive work 


I T WAS a prank so bold and* 
bizarre that it became a 
piece of University of Vir- 
ginia history as well known to 
students as the achievements 
of fee school’s founder, 

Thomas Jefferson. On a 
spring morning in 1965, 
a wobbly Black Angus cow 
was. spotted on the dome 
of fee university’s rotunda. 

People marveled at the spec- 
tacle, and veterinarians had- 
to give fee 250-pound cow a 
Valium shot to get it to go 
back down the building's 
spiral staircase. The prankster 
never stepped forward, and 
the sheriffs dragnet of local 
farmers failed to produce any 
clues. And for the next 32 
years, people in Charlottes- 
ville spoke of "fee Cow” 
without having to explain fur- 
ther. Now the mystery is 
over. Alfred R. Berkeley 3d, THE OLD S 
president of fee Nasdaq Stock an honorary 
Market, has admitted to put- 
ting fee cow on fee dome. And. to further ease 
his conscience, Berkeley has paid $1,755 
to George Bailey* fee former Albemarle 
County sheriff,- to cover what the sheriffs 
office spent investigating fee incident — 
money mat Bailey donated to a local rescue 



Magnanimously, it ignored fee slur. At $332^00, schoolboy at fee blackboard, was deftly steered by by Brice Maiden ever. 

die "untitled” piece done in 1968 exceeded (by .Burge to $4.18 million, matching expectations — It all culminated wife Rothko’s "No. 14, 1960,” 


caused the cow to die later- feat day. "I have a 
lot more of an adult view at age 53 than I did 
ar age 20,” be said. 


half) the highest hopes staked on iL 


At times, the mood sobered down a bit Another nude. 


which were as immodest as the two women in the as Sotheby’s called the untitled work. Bui then. 


how do you title a blazing orange- red rectangle 
"untitled” Rothko of 1961 deemed to be worth Alexander Caider’s mobiles, hanging or stand- fraying away at its fluffy edges, poised on a lower 
$2.2 million to $2.75 million was allowed to sell for ing, demonstrated that light-hearted whimsy re- soot-black rectangle? The San Francisco Museum 


."only” S 1 .82 million. 


mains priceless, when there lingers a whiff of of Modem Ait, which footed the $5,942,500 bill ro 

TIia “Mokila" «... D .rtilr. 1.. .L. Li.L ■ 


There were even a few failures. Punters seemed Surrealism. The generic tide * ‘Mobile’ ’ was de- get fee Rothko at nearly double the high estimate. 


fusion, had called these in 1968 "Two Panels: Red more us American of Paris would have relished fee a large solid white square, even one signed Robert 
White." A listless room let them sink, unsold at $189,000 that greeted his hanging "White Discs” Ryraan, for $343,500?), the total sold added up to 
S 140,000. (most are somehow red or black) and even more so $28.84 million. It was, Sotheby’s announced at fee 

Luckily, the luminaries of Contemporary Art as . the $651,000 that bis standing "Aspen” cost its press conference, the highest since the spring of 
seen by those who know triggered a few outbursts buyer. 1990. 


seen tty those who know triggered a few outbursts 
of desire required to give fee auction a finer polish. 
Willem de Kooning’s "Two Standing Women,” 


The spending spree that evening resulted in a 
$24.8 million collective bill leaving only 10 of 72 


If that most volatile of fields that attracts a grear 
deal of new money is doing so well fee stock 


Dorothy clicking her heels three times, fee book. ‘ ‘Leaves of Grass’ ’ was published in 
The original Scarface holding a machine gun. 1855. Historians believe feat Whitman wrote 
E.T. saying good-bye. Die American Rim fee draft introduction in 1866. The college 
Institute wants to choose the 100 greatest bought fee book in 1985 for $4,500 from a 
American movies — and "The Wizard rare-book dealer in New Mexico, 
of Oz” (1939), ‘‘Scarface: The Shame of a _ 

Nation” (1932) and "E.T.: The Extra-Ter- □ 

res trial” (1982) all are contenders. They The ashes of fee conductor Sir Georg Solti 

are on fee list of 400 nominees, from which will be interred at a Budapest cemetery in 
the 100 will be selected. The judges for March in a plot alo ngs ide one of his teachers, 
fee Top 100 include critics, filmmakers. Bela Bartok. Peter Inkei, the deputy state 
historians, movie executives. President secretary for culture, said that Solti’s widow 
Bill Clinton and Hillary Rodham Clinton, had agreed in September to the interment in 
fee AFI said. . . . The Sundance Institute, the Hungarian capital but that fee arrange- 


founded by Robert Bedford, has reached an meat was being made public only now, 


painted in his most studied manner of the naughty works out in fee cold. These were best symbolized market crisis cannot be all that threatening. 


agreement wife UCLA to archive and 
preserve independent films, movies that 


arrange- 
ow. Die 




fata Letauoa/Tt* Amuled P*=w 

THE OLD SCHOOL TIE? — George Bush receiving 
an honorary degree from the University of Toronto. 


are produced outside of the big studio sys- 
tem. 


A professor of English at The College of 
New Jersey in Trenton has discovered a rare 


squad. Berkeley says he takes no pride in what copy of Walt Whitman’s “Leaves of Grass” 
he did. Even at the time, he recalled, he felt that includes a draft introduction written by 
bad when he learned that fee tranquilizer shot fee poet Michael Robertson stumbled on fee 


copy, which had been tucked away in fee 
college library vault Whitman's 130-year-old 
inscription — written in pen and pencil on 
several small pieces of paper pas tea together 
to form a letter-size sheet — was found inside 
the book. "Leaves of Grass” was published in 
1855. Historians believe that Whitman wrote 
fee draft introduction in 1866. The college 


Hunga ri an-born Solti died in September at the 
age of 84. 1 


m 



love 0-800-99-0011 


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 dearest connections 
home. And be sure to chaige your calls on your AT&T 
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. 


gppKC»»c^frmax«itaWlfa^gB »^iu^i^ tta^[I5ctata«c^iill&derabBiritaaBaigp >iujjUlii& -Ccnptad>ogrtMbctf lr l r;rfm i-figyi hadgialltmhtPS aXaeitBr 

ay >mflondd i« |B^O'a>hMogpi tMTir 

dan 0|^UX«»lwtelnX6^‘1toBl , »erfclt*»rlC1956Owi*tt WSUP) ©IWfflff 








Steps Jo fefcm for easy 
caffipj worldwide 

l.Jus dial the AT&T Access Nurata 
fa the axsafly yen recalling fed. 

1 Dial the (dune number you’re eriling. 

3. Dial *b calling cud aunte Iasi 
abm your name. 


AT&T Access Numbers 

ElffiOFE 

AasW>*o.. 822-900011 

Belgian* 0400-100-18 

frawa... 0*800-99-00)1 

Gomany « 3 Mna 

fiimcs* 00-800-1311 

Intudo — 1-600-550000 

l»f*. 178-1011 

Nefierinds* BWOE2-8111 

Ratt*x(MaiMW)> 7605042 

900008011 


lietudo — 1*800550000 

l»f* 172-1011 

Nefierinds* 688IMQ2-8111 

Ratt*A(NMMW)» 7505042 

8p»l> - 900908011 

*»<•«. -620795-511 

SuttBrtxM* 6880800011 

United -KtoitfmB * 0500-894011 

6S8O8O6011 
MIDDLE** ST ~ ' 

EBF**(Calra)* 51HE00 

l*Ml 177-1802727 

Saudi Andris® 1-88016 

imu 


smft Africa 0800906123 


GnlfiiddK’AcoeBNaniberfcrfieconnliyjmi’recdinshnyjHiAaiyapeBUrftr 
mr HmP SRrice, orri* our *eb rite tt faqtf/Wnjduoaftnrcter