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INTERNATIONAL 



(tribune 


The World’s Dally Newspaper 


PUBLISHED WITH THE NEW YORK TIMES AND THE W£S®^GT^N POST 


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Paris, Friday, November 28, 1997 f 0 -?v N *1A 

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Gold Price Melts 
As Metal Loses 
Ancient Glitter 

Bullion, Below $300 an Ounce, 
May Surrender Investment Role 

By John Schmid 

International Herald Tribune 

FRANKFURT — Investors this week dethroned 
gold as one of the world’s oldest and most secure 
stores of wealth. 

With little prospect of an immediate recovery, 
bullion prices tumbled Thursday to their lowest level 
in more than 12 years, as fears spread across tbe 
globe that the precious metal no longer commands its 
traditional role as an investment haven. ; 

Eddie George, governor of the Bank of England, 
triggered waves of selling this week when he bluntly 
stripped away gold’s financial mystique. 

Gold, he declared, ranks “at the bottom of the 
pile” of potential assets to be held in reserve at the 
proposed European central bank. As the “least liquid 
of the assets” under consideration, he said he would 
be * ‘surprised” if the new central bank ended up with 
significant gold reserves when it is incorporated in 
the middle of 1998. 

Gold quickly plunged below $300 an ounce and by 
Thursday traded at $295.95, its lowest level since 
March 1985, on concerns that the world’s central 
banks want to unload a share of their vast stockpiles. 
Gold had held steady for most of the decade between 
$350 and $400 an ounce. 



uth Korea Needs 
Tar More’ Assistance 

Seoul Says $20 Billion Won’t Suffice; 
Companies Seek a Debt Moratorium 


By Don Kirk 

Special to the Herald Tribune 


Lam Unn/ltanm 


A trader making a bid Thnrsday at tbe Chinese Gold and Silver Exchange Society in Hong Kong. 


- Prices have &llen so far that it now costs more to 
mine gold in many parts of South Africa, the world’s 
biggest producer, than to buy it on die open market, 
according to the World Gold Council, a trade group 
in Geneva for the world’s miners. 

Economists expect mine closures and job losses to 
deal another blow to South Africa’s fragile econ- 
omy. 

From the time of kings, gold gained in value 
whenever political unrest or the menace of inflation 


threatened any part of the world. But the gilded age of 
the precious metal began to recede as long ago as 
1971, when nations’ central bankers dropped gold as 
their peg for international debt settlements and the 
dollars exchange-rate peg. 

In recent months, central bankers have gone much 
further with wholesale auctions of their gold stock- 
piles. 

See GOLDi Page 5 


A Jittery Russia Looks to West to Salvage the Ruble 

As Investors Flee Emerging Markets, Central Bank Seeks Insurance Against Economic Ripples 


-. 1 *. 


By Michael R. Gordon . 

New York Tunes Service 

MOSCOW — Worried that the glob- 
al economic turmoil could overwhelm 
its financial system, Russia is quietly 
seeking American support for an ex- 
panded program of Western assistance, 
according to government officials and 
private bankers. 

The purpose of the aid would be to 
strengthen confidence in Russia's cen- 
tral bank, which has bee»ji&Hjg-4ie.#s^ 
reserves in an anxious effort to prop up 
the ruble. 

Prompted by the crisis that has 
rippled through Asia, foreign investors 
have been fleeing emerging markets: 
They have already moved to withdraw 
about $4 billion from tire Russian Treas- 


ury-bill market, officials of Russia’s 
central bank have said. 

Russian officials and private bankers 
fear that investors may unload billions 
more, {Hitting further strain on the ruble 
and hei ghtenin g concerns about Rus- 
sia’s financial system among Russians 
and foreigners. 

That not only would be an economic 
setback but also could deliver a power- 
ful political blow to the government of 
President Boris Yeltsin and Its agenda 

central bank s reserves aw 
enough to take care of foreign in- 
vestors,” said Pavel Teplukhin, tbe 
chief economist for Troika Dialog, a 
Russian investment bank. “But I am 
afraid that if Russian investors start 
panicking and buying dollars, the cen- 


tral-bank reserves will not be suffi- 
cient” 

Mr. Teplukhin said the West could 
ease the crisis by promising to lend as 
much as $5 billion to the central bank, 
though others said billions more might 
be needed. 

Central-bank officials have sought to 
reassure tbe Russian public by putting 
rata brave face. They have not talked 
about the possibility of additional as- 
sistanc e jy s^jjow much aid- they 
to them. 

i officials estimated last week 
that their reserves ^vere $21.5 billion, a 
healthy amount during normal times but 
one that is shrinking as the global eco- 
nomic sitnatioii worsens. 

Sergei Aleksashenko, die deputy 
head of the central bank, and Sergei 


Vasilyev, the deputy head of the pres- 
idential administration, have been sent 
to Washington to meet with officials of 
the U.S. Treasury Department and the 
International Monetary Fond. 

Their goal is to explore whether tbe 
West can make more aid available to 
bolster tire credibility of Russia's fi- 
nancial system and discourage any per- 
ception that it may be too weak to cope 
with the crisis rat the world markets. In 
effect, the Russians are seeking a kind of 
msxrrance pok ey. ■ 

The United States has generally taken 
the stance that the Russian request 
should be handled by the International 
Monetary Fund, which would be a likely 
vehicle for any further assistance. 

See MOSCOW, Page 5 


The Spy Who Loved Him? 

\ Letter Reveals Pasternak’s Real-Life ‘Lara’ 
Informed on Author to Soviet Union’s KGB 


By Ales sandra Stanley 

New York rimes Service 

MOSCOW — There is no more en- 
during Russian love story than that of 
the writer Boris Pasternak and die wom- 
an who was tbe model for Lara, tbe 
radiant heroine of “Doctor Zhivago.” 

Except that now it appears that the 
real-life Lara, Pasternak’s longtime 
mistress, muse and literary as s ista n t, 
Olga I Vinskaya, informed on him to the 
KGB. „ . 

In 1961, while a prisonerof the Soviet 
gulag, where she was sent because of 
her association with Pasternak, Mrs. Iv- 
inskaya wrote to Nikita Khrushchev 
begging for her freedom and r emind ing 
himof how she cooperated with die 
government's efforts to silence the 
writer. « . , j 

Mrs. Ivinskaya told the Soviet leader 
how she tried to cancel the writer s 
meetings with foreigners; worked 
closely with the Central Committee to 
to delay publication in the West of 
r. Zhivago,” the epic novel of an 


an poet anc 
caught up in tire turbulence of the Rus- 
sian Revolution, and dissuaded Pas- 
ternak from leaving tbe Soviet Union 
after he was forced to turn down the 
Nobel Prize for Literature he won in 
1958. 

-The letter, recently released from 
archives of the Communist Party’s Cen- 
tral Committee, was published in ex- 
tracts by die newspaper Mtiskovsky 
Komsomolets tins month. 

“I did everything in my power to 
avoid a misfortune; but it was beyond 
my capacity to neutralize everything at 
once,’' she wrote on March 10, 1961. “I 
would like to make it clear that it was 
Pasternak himself who wrote the novel, 
it was he himselfwho received fees by a 
method he chose. One should not por- 
tray him as an innocent lamb.” 

Publication of the letter astounded the 
literary circles where Pasternak remains 
a godlike figure. But there was more 
shock than anger. 





H»V, tofiTimm 


See PASTERNAK, Page 8 Boris Pasternak, the Nobel Prize-winning Russian writer, in 1957. 


The Fragile, Cutthroat World of Scents 


By Jennifer Steinhauer 

Ne*- Times Service 


NEW YORK — A woman can smell 
like just about anything she wants to 

^cftnSls hot, so is fig. Vanilla has 

made its way around the block. 

Light and fiuily, musky and heavy, 
scents to lower the blood pessure, wing 


Newsstand Prices] 


Andorra... 
Anffles— 
Cameroon.., 
Egypt.. 
France 
Gabon, 

Italy 

ivory Coast 
Jordan ..... 
Kuwait-...., 


,10.00 FF bBbanon....n...JL 3flOO| 

1 z 5 qFF Morocco -loon 

TeoqcFA Qatar ...........10.000^ 

1S3DFF 

1000 FF Saudi Arabia.— -10 SR 

;.TioocS 

UAE. .10.00 Dh 

„700Fi3 U.S.MMEur.)..-S1.a0 



inner peace cr perhaps encourage a hus- 
band id do the mnndiy — take year pick. 

Which means, of course, that ped- 
dling perfume has never been riskier. A 
glut of products and increasingly ex- 
pensive marketing have transformed 
Otis, business in recent years into a cat- 
throat marketing war. Battles are waged 
through scented magazine advertise- 
ments, and the score depends on how 
long aperfome survives. (And this is not 
even to mention the huge market for 
men's colognes.) •• 

What distinguishes a perfume that 
lasts for generations, like Chanel No. 5, 
from one that fades with its era 
remember Windsong, in the ’70s? — is 
a complicated and often intangible al- 
chemy of science, advertising and mar- 
ket research. The fragrance industry 
dumps millions of dollars- into all. these 
elements each year, only to find that 
. four out of five new scents die .at the 

counter. ... . . 

“There are more failures today man 
there ever have been ’Vsajd Robert 
Brady, chief executive of Christian Dior 
Perfumes part of LVMH Moet Hen- 
nfcss’^Lou IsV u itton SA, the French 


luxury goods company. Indeed, fra- 
grance experts say that of the 40-odd 
perfumes rolled out each year, most will 
flop within three years. 

The typical fragrance launch today 
costs about 25 percent more than it did 
five years ago, ’ Mr. Brady said. “It 

costs , more money to break through the 
clutter, which means bigger displays, 
more giveaways and massive use of 
scent strips.” An industry consultant 
says each introduction costs $5 million 
to $25 million, with scenr sttips inserted 
into a national magazine running about 
$200,000 alone. 

.. Competition among .perfume makers 
is never so Intense as at the holidays at 
the end of the year, when every company 
is vying for the shopper’s eye. Last year, 
reflecting consumer ambivalence, hol- 
iday sales fell about 2 percent. Friday, as 
this shopping season officially begii 
all the spraying, promoting and put 
of tiie latest scents will intensify. 

It used to be that perfume makers 
were content to roll out a scent or two 
every decade; hoping to draw loyal 

See SCENT, Page 8 


A6IMPA 

6 Hostages Go Free, 
Yemenis Report 

SAN 1 A, Yemen (AP) — A kid- 
napped U.S. engineer was freed 
Thursday in Yemen after being 
held hostage for nearly a.raonfo by 
tribesmen, security sources said. 

Security sources also said that a 
second American, two Italians and 
two other Westerners who were 

; two 



Embassy ^ Yemen 

dismissed that report, however. 

.. The .American engineer, Steve 
Carpenter, is director of a Yemeni 
company that subcontracts with the 
Hunt Oil Co. of the United States. 


Books. 


Crossword. 
Opinion — 
Sports .... 


Page 11. 

Page 22. 

Pages 10-11. 

Pages 22-23. 


TheMtrrrutrket 


Pages 4 , 20 . 


The IHT on-line vnviv.iht.com 


SEOUL — A week after turning to 
the International Monetary Fund for a 
$20 billion emergency loan. South 
Korea conceded Thursday that it would 
need “far more” to extricate itself from 
its deepening financial crisis. 

The revelation by Finance Minister 
Lira Chang. Yuel came as negotiators 
from the IMF met Finance Ministry 
officials for their first full day of talks 
about aid for a financial system on the 
verge of insolvency. 

“It will be far more than $20 bil- 
lion,” Mr. Lim said. “You had better 
forget that figure.” 

Mr. Um also said that the World 
Bank and the Asian Development Bank 
had expressed willingness to contribute 
to the IMF-led program. 

- Meanwhile, the nation’s top 30 con- 
glomerates called Thursday for a mor- 
atorium on repayments of their error-, 
moos debts. 

Their statement amounted to the most 
frank recognition to date of tbe depth of 
their financial problems. Some analysts 
said the request to delay loan payments 
raised concerns that the conglomerates 
were resisting the deep restructuring 
that must be done to turn the world's 
llth-largest economy around. 

“It will take extreme measures to 
prevent the collapse of the financial 
system,” said the Federation of Korean 
Industries, the lobbying association that 
groups tire leading conglomerates, 
which are known as chaebol. 

A statement released by the chaebol 
asked tire government to give them at 
least until the beginning of January to 
repay about $21 billion in corporate bond 


debt that will fall due next month. 

“Koreans are stubborn,” said 
Richard Samuelson of SBC Warburg. 
“They know they can fulfill the basic 
demands of the IMF. The sticky part 
arises in the area of institutional 
change.” Government officials and the 
chaebols “are very gradualist in doing 
this stuff.” After all, he added, 
“They’ve got a lot of vested interest.” 

The chaebol said they found it vir- 
tually impossible to obtain new credit 
from banks that are now desperately 
calling in loans. The average South 
Korean company has four times more 
debt than equity. 

The chaebol, in their statement, also 
pleaded for an immediate suspension of 
the complicated procedure under which 
companies within the same group can 
merge with one another in order to in- 
crease efficiency and competitiveness. 

Observing that such mugers now 
sometimes take years to gain approval, 
planning officers called for a system 
whereby they can ger rid of borderline 
operations with a minimum of bureau- 
cracy. 

The government indicated it would 
fry to comply with some of the demands 
— but not necessarily the plea for a 
moratorium on debt repayment. 

Chung Hae Joo, minister of trade, 
industry and energy, promised to ease 
the procedure for mergers and acqui- 
sitions within the same group in the next 
few weeks. He added that the govern- 
ment might also expand permission for 
companies in need of immediate aid to 
borrow from foreign institutions. 

The government, however, strongly 
resisted another demand from the chae- 

See KOREA, Page 5 


Cooked Books in Japan 

Failed Brokerage Hid Losses, Ex-Chief Admits 


. By Sandra Sugawara 

Washington Post Service 

TOKYO — For much of this de- 
cade, Tsugio Yuldhira held a top post 
in Yamaicbi Securities Co., whose 
collapse this week sent Japanese mar- 
kets into a taHspin. On Thursday, Mr. 
Yukihira solemnly stood before a leg- 
islative panel and quietly admitted 
that he has known since 1991, a year 
before he became chairman, that Ya- 
maichi was illegally hiding massive 
losses in five dummy corporations. 

The authorities say the amount bal- 
looned over the years to at least $2 
billion. 

Mr. Yukihira, who was forced to 
step down after a different scandal this 
summer, offered a straightforward ex- 
planation: “If my company had dis- 
closed problem assets, it would not 
have been able to survive.” 

By concealing the losses, he said, 
he thought he could maintain the 
company’s reputation, with future 
earnings covering the losses even- 
tually. 

The statement confirmed what for- 
eign investors, analysts and interna- 
tional money markets have long sus- 
pected about Japanese companies — 
that business practices and the re- 
lationship between regulators and 
companies enable those companies to 
hide massive problems from the pub- 
lic. It is the reason that American and 
European hanks have been wary to 
lend money to Japanese companies! 
and why foreign investors have been 
fleeing the stock market here. 

“Japanese democracy is such that 
people put tbe lid on something that 
stinks, said Takas hi Wada, a com- 
mentator on TV Asahi. 



er, 
cent, 

volatile week, in which a parade of 
financial institutions were forced to 
hold emergency news conferences 
denying that they were out of cash and 
government authorities had to pledge 
to back up die financial system. Be- 
cause investors no longer trusted pub- 
lic balance sheets, rumors ruled die 
market 

After the 1995 scandal involving 
Daiwa Bank Ltd. in which a Japanese 

Remedies’ effect limited. Page 15. 

trader concealed $1.1 billion in illegal 
bond trading, the Finance Ministry 
declared that it was cracking down on 
finance companies to uncover such 
problems more quickly in the future. 

But a ministry spokesman said 
Thursday that there were no imme- 
diate plans to beef up audit operations 
as a result of the Yamaichi debacle. 

“You most understand the history 
of this," be said, saying that in the early 
1990s, the major Japanese securities 
houses had many off-the-book losses. 

A revelation about major Wall 
Street companies akin to the Daiwa 
scandal might have unleashed 
massive investigations by U.S. reg- 
ulators and prosecutors. But the Fi- 
nance Ministry chose instead to call in 
the securities executives and direct 
them to get rid of the illegal debts. 
They were told to report bock when 
they had cleaned up the mess. 

“All the major securities houses 
reported back then that they had, ’ 1 the 

See JAPAN, Page 5 


Invitation to Saddam’s Palaces 
Is Not for UN Team, Iraq Says 


By Joseph Fitchett 

International Herald Tribune 


PARIS — Was xt smart diplomacy, a 
delusion of compromise or just snake 
oil? One day after Saddam Hussein had 
apparently thrown' open his multiple 
palaces to inspection by foe United Na- 
tions, Iraq’s foreign minister explained 
Thursday that, no, foe invitation did not 
include foe UN experts hunting for 
secrets about Iraqi chemical and bio- 
logical weapons. 

Even before foe gloss was off foe 
offer, U.S. and Arab diplomats in Paris 
said that Mr. Saddam was waging foe 
mother ofall charm offensives, pushing 
foe theme that his country has been 
punished enough. 

.Apparently, Baghdad hopes to win 
support in the diplomatic phase of the 
crisis over arms inspections and UN 
sanctions. Russia fell in line, saying 
Thiusday thar Iraq deserved a reward 
for its better behavior. 

And the UN Security Council was 


expected to consider a plan early next 
week to let Iraq sell $3 billion worth of - 
oil to pay for food in the first half of next 
year for food — $1 billion more than foe 
current authorization. 

Expanding the envelope of die ■oil- 
for-food plan — which is designed to 
ease foe impact of UN economic sanc- 

NEWS ANALYSIS 

tions on the Iraqi people — was an idea 
that Washington seemed to endorse as a 
possible inducement for Mr. Saddam to 
end the crisis. 

Even with UNSCOM, the UN Spe- 
cial Commission on Iraqi disarmamenr, 
back at work, foe United States, its 
airpower poised in foe Gulf, insists that 
the crisis can only end when Iraq grants 
inspectors “unfettered access,'* a 
White House official said Thursday. 

But Washington is finding public dip- 
lomatic unity with only one other ally. 

See IRAQ, Page 8 






INTERNATIONAL HERALD TRIBUNE; FRIDAY, NOVEMBER 28, 1997 


PAGE TWO 


U.S. Stock Market / A 1 5- Year Raging Bull 


This Time , the Middle Class Gets In on the Bonanza 


By Brett D. Fromson 

Washington Post Service 


W ASHINGTON — As Wall Street 
traders gave thanks at their holiday 
tables Thursday, a few might have 
remembered the day IS years ago 
when the greatest bull market in history got its 
start That morning, Aug. 17, 1982, Henry Kauf- 
man, then the chief economist at Salomon Broth- 
ers Inc., slipped away from a partners meeting to 
tell his secretary to release a memo to the firm's 
customers. 

The memo from Mr. Kaufman, then Wall 
Street's foremost economist, predicted lower 
inflation and interest rates. The Salomon meet- 
ing broke up quickly that day because his part- 
ners wanted to harry back to trading stocks and 
bonds, which were already rocketing upward on 
the news. The Dow Jones industrial average rose 
nearly 5 percent that day, to 831.23 points. 

In retrospect, the partners need not have 
rushed. 



occasionally stumbled — as it did 
last month with a one-day 554-point drop in the 
Dow — the bellwether index has never since 
then closed below its low of the preceding year. 

The bull market is the financial markets' most 
important event since the Crash of 1929. It has 
forecast the current American economic renais- 
sance better than any economist and spurred 
great American corporations such as Coca-Cola 
Co. and Gillette Co. and General Electric Co. to 
profitability undreamed of 15 years ago. 

The boom also has attracted the vast American 
middle class into the stock market, which pre- 
viously was the province of the wealthy. 

So far, these investors have been ijchly re- 
warded. The boom has created about $9 trillion 
in wealth for investors and corporate managers. 
In the last three- and-a-half years, the value of 
stocks owned by U.S. families has grown five 
limes as fast as disposable personal income, 
according to Federal Reserve System data This 
wealth, according to many economists, has made 
Americans more willing to consume and thus 
helped buoy the economy. If this confidence 
were to be eroded by a sharp market chop, the 
economy would almost certainly slow. 

The financial crisis in Asia, some analysts fear. 


could be the catalyst for such a drop, 
although many market commentators 
at WaliStreet’s biggest fines say they 
do not expect it to cause more than a 
temporary storm for U.S. markets. 

Like ail bull markets, the current 
one began amid economic gloom. 

Paul Volcker, then the chairman of 
die Federal Reserve Board, had 
been enforcing a tight monetary 
policy for three years. It had broken 
the back of inflation, the hobgoblin 
of the 1970s, but also had knocked 
the economy for a loop. 

America was suffering through its 
deepest recession since the Depres- 
sion. Unemployment was approach- 
ing 10 percent, and a wave of home- 
less people not seen since the 1930s 
was spreading across the country. 

Thirty percent of all factories and 
plants were idle, corporate profits were weak, and 
many companies faced bankruptcy. 

Bull markets can begin amid such bleak con- 
ditions because investors buy stocks not so much 
based on what the economy and companies have 
done as on what is expected. 

No matter how bad economic conditions were 
in the summer of 1982, the prospect of lower 
inflation and lower interest rates suggested that 
perhaps the worst was over. In fact, in the second 
half of the year die Fed lowered short-term rates 
to 8.5 percent from 12 percent 

Economic data later showed that inflation had 
been beaten, recovery was on the way and cor- 
porate profits were rebounding. However, 
neither the public nor the so-called smart money 
on Wall Street could have foreseen that die 
country was heading into such a long glide path 
of declining inflation and interest rates. 

The big winners in the surge in stock prices 
since then have been the American middle and 
upper-middle classes, who have participated in 
Wall Street's bonanza as never before. 

Forty-three percent of American adults own 
stocks, directly or through mutual funds and 
retirement accounts, according to the Nasdaq 
exchange. Fed records show that in 1989, only 
32 percent of Americans held shares. 

■ Half of all households earning between 
$25,000 and $50,000 a year owned stocks in 
1995, compared with one- third malting die equiv- 



rates are 
because 


i for the stock market 
squelch economic ex- 


Scurce: Bloomberg News 



alent amounts in 1989. Two-thirds of families 
earning between $50,000 and $ 1 00,000 had stock 
holdings, compared with one-half in 1989. 

Much of the middle-class money has been 
invested through pension-fund contributions. 
The Fed reports that 43 percent of families have 
retirement accounts, compared with only 24 
percent in 1983. 


A; 


LL BULL MARKETS expire even- 
tually, and as this one ages, analysts 
and investors watch nervously for 
.signs it is about to end. A bull market 
ends only with a sustained period of declining 
stock prices — in other wends, a bear market 
Stocks typically lose 25 percent in a bear market, 
which normally lasts a year or two. 

One way to gauge the marke t’s future is to 
Look at the engines that have powered it low 

flow of cash fionT^^^^any of the three 

If two bailed, then invest orJcould expemjibear 
market decline of, say, 30 percent If all three 
died, the market could tall even farther. 

Of the three engines, interest rates are most 
critical. The Fed and Wall Street's bond market 
— which demands higher interest rates when h 
senses a trend toward rising prices — have 
managed to contain inflation and therefore avoid 
the need for sharply hi ghe r rates. Higher interest 


Eamings. the second engine, mat- 
ter to investors because shares of 
stock are little more than pieces of 
paper representing claims on that in- 
come. The bettor tire earnings ex- 
pectations, the more stock prices tend 
to rise. The history of this buH market 
is fne of bettor profits than analysts 


a boll market cannot be 
unless a lot of confident 
people want to put their savings into 
stacks. For every seller there must be 
a buyer — often at a higher price. 

has been a flood of such 
in recent puns. Nearly $1 
of new cash has come into tire 
market from stock mutual funds 
alone. The tide of money continues to pour into 
stocks as Babiy Boomers and others put aside 
billions of dollars each week for retirement Ag- 
io the investment Company Tnoritnte, the 
[-fund trade group, so-called 401(k) re- 
tirement plans, which woe authorized by Con- 
gress in 1 978, held $675 billion at the end <rf 1995. 
in. die 1980s, tax-law changes made these plans 
more attractive to employers than traditional 
plans that ensured specified benefits to retirees. 
So far, these three- engines continue to run 
the Asian financial crisis that rattled the 
’s stockjparkets. Inflation is dormant. Cor- 
porate profits are growing. Investors have yet to 
lose their nerve, even buying on the recent dip. 

“Thekw to toe dotation aftbe bull market isibe 
duration of the economic and profit expansion,” 
said Abby Joseph Cohen, the Goldman, Sadis & 
Co. stock, market strategist who has been one of the 
nx>st prominent bulls on Wall Street “There is an 
economic cycle. It is the case this time, however; 
that the recovery has been stretched out We expect 
over die next year inflation of less than 3 percent 
and continued economic growth. The bull market 
remains fundamentally based.” 

Not everyone is as bullish as Ms. Cohen. 
Some analysts worry that the end may be near 
because the stock market is so richly priced, 
based on current prospects for corporate profits. 
The chief concern remains the possibility of 
accelerating inflation with rising interest rates. 


Ira Wolfert, Pulitzer Prize Winner, Dies at 89 


New York Times Service 

Ira Wolfert, 89, a Pulitzer Prize- 
winning war correspondent during 
World War II who wrote the ac- 
claimed 1943 novel “Tucker’s 
People,” died Monday in Mar- 
garetville. New York. 

Mr. Wolfert won widespread 
praise for “Tucker's People," on 
which the cult movie “Force of 
Evil” was based, and other books of 
fiction and nonfiction. 

His eyewitness nonfiction work 
“Battle for the Solomons,” also 
published in 1943, was a best-seller, 
and his 1945 nonfiction book 
“American Guerrilla in the Philip- 
pines” was a Book-of-the-Month 
Club selection and was made into a 
1950 movie with the same tide. Mr. 
Wolfert’s 1948 novel, “An Act of 
Love,” also became a best-seller. 

“Tucker’s People,” which was 
republished earlier this year by the 
University of Illinois Press, was Mr. 
Wolfert's first novel. It is set in the 


Nerw York underworld during the 
1930s and ’40s. The character named 
Tucker is a vicious figure in (he 
numbers racket who manipulates his 
underlings savagely. Mr. Wolfert, 
who grew up in New York, gathered 
material for die book while covering 
trials of racketeers as a journalist 

Mr: Wolfert wrote the screenplay 
for “Face of Evil” with Abraham 
Polonsky, a screenwriter, novelist 
and director. The 1948 movie, which 
starred John Garfield, was “largely 
dismissed as a routine gangster 
drama,” according to the film his- 
torian Ephraim Katz. But It now en- 
joys praise from contemporary crit- 
ics. 

It was as a correspondent for the 
North American Newspaper Alli- 
ance that Mr. Wolfert received a 
Pulitzer Prize in 1943 “for distin- 
guished telegraphic reporting on in- 
ternational affairs” for three articles 
he wrote about a sea battle off 
Guadalcanal in November 1942. 


Werner Hoefer, 84, Host 
Of German Television Show 

New York Times Service 

BONN — Werner Hoefer, 84, one 
of the best-known television jour- 
nalists in postwar Germany, whose 
career was ended by reports about his 
activities under the Nazis, (fled Tues- 
day at his home in Cologne, German 
television reported. 

Mr. Homer achieved national 
fame for more than 30 years with a 
round table discussion called “Der 
Internationale Fruehschoppen” that 
was broadcast Sunday mornings and 
brought together German and for- 
eign correspondents to discuss issues 
of the day. 

The program's title meant, 
roughly, “a morning drink,” and 
each of die six participants had a 
glass of wine set before them. In the 
era before soap operas and game 
shows, the program became an in- 
stitution, as did Mr. Hoefer, who was 


widely seal as a political liberal. 

The program was broadcast na- 
tionally on stare television, from 
1953 on. Mr. Hoefer acted as the 
program’s anchorman in a courtly, 
mannered way that disguised a sharp 
tongue. 

In 1962, however, while Germany 
was still divided, repots began to 
emerge from East Germany that Mr. 
Hoefer had played die role of a Nazi 
propagandist At the time, he rebat- 
ted the reports, saying a contentious 
article that appealed under his name 
in 1943 concerning the execution of 
a young piano virtuoso, Karirobert 
Kreiten, had been rewritten by Nazi 
officials. 

But when the reports resurfaced in 
1987, in tire news magazine Der 
Spiegel, German television author- 
ities demanded that he hand over the 
Sunday morning program to someone 
else. He quit in December 1987, bit- 
terly disappointed at the television 
authorities' failure to back him. 


Earth’s Temperature Rise 
Is Nearing Record Level 

Reuters 

LONDON — The earth’s temperature is set to 
hit its highest level this year since such record- 
keeping began in I860, die British Meteoro- 
logical Office said Thursday. 

The average temperature of (he earth will 
probablybe about 0.43 degrees'e^tigraett; .(0.77 
degrees Fahrenheit) wanner man die 1960-1991 
average, the office sakL 

“Global temperatures in 1997 have been 
boosted by El Nino, a natural wanning of the 
tropical east Pacific which occurs every few 
years,” said David Parker of die office’s Hadley 
Center for Climate Prediction and Research. 

Mr. Parker, head of climate monitoring, said, 
“Sea temperatures off Peru rase sharply in May, 
and are now up to 6 degrees centigrade,” 10.8 
Fahrenheit, higher than normal in some areas. 

The five warmest years on record have all come 
in this decade, and temperatures in the late 1990s 
have risen about 0.6 degrees centigrade (1.1 
Fahrenheit) above those at the aid of the last 
century, die Meteorological Office said. . 


Is Guarded on 
Chance for an 
Emissions Pact 


By John H. Cushman Jr. 

New Ymt Times Sen we 

WASHINGTON ~ Saying that cri- 
ticisms by other countries of (he United 
States' 1 position on global warming were 
“illrfounded," the new chief U.S. ne- 
gotiator on a climate treaty has ac- 
knowledged that it might cor be possible 
to bridge the remaining differences with 
Europe and die developing world. 

“we are not going in with the notion 
that we have to have an agreement at any 

cost,” Stuart Eizenstat, the undersec- 
retary of state for economic affairs, said^ 
Wednesday in a Telephone conversation' 
with journalists as he prepared to lead 
the American delegation to talks that 
will begin next week in Japan. 

“We will go to Kyoto and make an 
all-out effort,” Mr. Eizenstat said. He 
said he was “neither optimistic nor pes- 
simistic” but was “r ealis tic** about the 
difficulties. “We must remember that 
nations remain quite far apart,” he said, 
“and achieving agreement will be a 
challenge.” 

Whether his comments were intended 
to lower expectations and pave the way 
for possible failure or a weakened treaty, 
or to raise the pressure and persuade other 
countries to make concessions, Mr. 
Eizenstat’s remarks were more guarded 
than those mark recently by his pre- 
decessor as chief negotiator, Tim Wmh. 

Mr. Wirth, who resigned from die 
State Department last week to head a 
United Nations foundation established by 
the media executive Ted Turner, had said 
that differences with Europe, especially, 
were not so great and were shrinking. 

In contrast, Mr. Eizenstat said the 
United States had “significant prob- 
lems” with a central feature of Europe's 
position: that members of the European 
Union be considered os a unit in achiev- 
ing reductions in emissions of carbon 
dioxide and other gases that trap the 
sun’s heat as in a greenhouse, rather 
than requiring each nation to -achieve 
reductions. He colled it “an artificial 
advantage and one that no other country 
or set of countries has.” g 

The United States, Mr. Eizenstat said, 
would insist that many developing coun- 
tries agree to binding reductions in their 
emissions of those gases “ova a rea- 
sonable period of time,” but he said those 
commitments need not be foe same os the 
targets imposed on developed countries. 

But he said commitments most come 
from the higher-income section of die 
developing countries and from devel- 
oping countries that, because ol their 
sheer size, emit large amounts of green- 
house gases. 

Those criteria would probably ensure 
the inclusion of the top five sources of 
carbon-dioxide emissions in the devel- 
oping world: China, India. South Korea, 
South Africa and Mexico, which among 
them in 1996 emitted almost as much 
greenhouse gas as the United States. 
Their emissions have been growing 
much faster than American emissions, 
although emissions per person in the 
United States are much greater. 

“We are talking about focusing on 
key developing countries," Mr. Eizen- 
stat said. “They have to make a mean- £■ 
ingful contribution." '■ ; 


"f . 

U.S. Delegate t ; . t riu 


»IW 



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TRAVEL UPDATE 


Assisi Basilica to Reopen 

ASSISI, Italy (AFP) — The quake-dam- 
aged St. Francis of Assisi Basilica is re- 
opening its lower church Sunday, two months 
after devastating tremors shook central Italy. 

The Reverend Nicola Giandomenico said 
the Mass in the damaged 13th-century edifice 
“will be a first step on the way to normality, 
with no special ceremony planned-” An of- 
ficial opening is planned for Dec. 8. The upper 
church will not be reopened until the end of 
1999. Masses resumed in the crypt Oct. 26. — ■ — ■■I,.. 

Haze-Free Southeast Asia Correction 


ism Organizations of the Association of Sooth 
East Asian Nations said Thursday. 

All fires in the Indonesian provinces of 
S umatr a and Kalimantan have been put out, 
the umbrella group quoted the deputy minister 
of tourism in Jakarta as saying. 

The temples of Angkor will be accessible 
by direct international flights to nearby Siem 
Reap, Cambodia. Bangkok Airways plans daily 
service from Thailand starting in January. 


SINGAPORE (Reuters) — Southeast Asia 
is finally rid of the choking smog that blanketed 
the region in recent months, the National Tour- 


The name of a worker affected by the 
financial ills in South Korea, Chang Sorag Ik, 
was misspelled in Thursday’s editions. 


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Don’t miss the IHT Sponsored Section on “ Environment : The 
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Europe 


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A worn wN bring soaking 
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Europe 

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INTERNATIONAL. HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 

THE AMERICAS 


PACE 3 




il, ,Septuplets’ Saga: 
i, Awe and Horror 

> J) Event Evokes Mixed Reactions 


By Elizabeth Kastor 

W,i.\hmgtun Am Sm-h r 

Washington — Alisa 

Pipkin felt tears welling as 
she watched a televison in- 
terview with Bobbi and 
Kenny McCaughey and saw 
the first public pictures of 
their seven babies. 

“’I had a preemie baby,*’ 
she said, looking down at the 
stroller and her 18- month -old 
boy, now so strong and 
healthy and content. “He was 
six weeks early. He's a mir- 
acle baby to me. Just to think 
i of seven going through that 
2 — it’s heartbreaking.” 

Only one of the Iowa sep- 
tuples was still breathing 
w iih the aid of a ventilator and 
being fed intravenously 
Thursday. The other six were 
breathing normally and being 
fed through nasal tubes. 

In Mrs. McCaughey and 
her babies. Mrs. Pipkin saw 
so much — herself, her son, 
another woman facing the in- 
evitable second-guessing of 
her choices. “It gets down to 
people asking you. ‘Are you 
going to nurse?' People have 
so many ideas about what you 
should do.” 

' For each person following 
the McCaugheys and their 
septuplets, from those who 
are appalled at the idea of so 
many children to those who 
are envious, the story has a 
potent, larger meaning. 

For the clients of a Wash- 
ington psychologist. Susan 


Mikes ell, women and men 
grappling with the emotional 
tangles of reproductive sci- 
ence, the septuples are in- 
escapable reminders of 
everything thar can go right 
and wrong in the high-tech 
making of children. 

For Kristin Hansen, a 
spokeswoman for the conser- 
vative Family Research 
Council, the babies and their 
parents’ decision not to abort 
some of the fetuses are “a 
wonderful example for this 
country.” 

The McCaughey story says 
to her thar “the community 
can come together and 
provide for the need of those 
who are faced with a crisis 
pregnancy and are having dif- 
ficulty thinkin g about how 
they’re going to provide for 
their new child.** 

For Judith Vioist, a writer, 
the seven new McCaugheys 
are reminders of the wonder 
of all babies. “A baby allows 
us a lot of freedom to give our 
hearts. You look at those fin- 
gernails and the feet and the 
whorls in the ears and you 
think. This is absolutely as- 
tonishing!’ *' Then, she says, 
“multiply that by seven!” 

■ For Gerber and Toys ‘R* 
Us, Chevrolet and Sears and 
many others, the four boys 
and three girls are opportu- 
nities to display well-publi- 
cized largesse: Free baby 
food and car seats and college 
educations and vans and fam- 
ily photos and cable TV. 



Joel Steven McCaughey, one of the septupled. 


For the feminist critic 
Katha Pollitt, the reaction the 
infants have elicited is the 
latest paroxysm of “this hor- 
rible sentimentality that gets 
focused on a few children. ' ' 

“This is a way that people 
hide from themselves,’* she 
said. “By lavishing excite- 
ment and presents on this par- 
ticular family, they disguise 
from themselves what hap- 
pens to more and more chil- 
dren in our society.” 

Before the McCaugheys’ 
name - ■ » even known, the 


Political Lesson: Hands Off Big Bird 


support they found in their 
3,400-population home town 
was, as Heidi Brennan of Ar- 
lington says, out of a Norman 
Kockwell'fantasy. 

“One of the things that's 
made life so difficult for 
mothers is that there’s no 
community,” said Mrs. Bren- 
nan, the mother of five and 
public policy director for the 
national organization Moth- 
ers at Home. 

“Hillary Clinton says, ‘It 
takes a village'? This is the 
village coming forth." 


By Irvin Molotsky 

Ne h ' Yuil Times Scmt e 

WASHINGTON — Three years ago, 
the Republicans who had just won con- 
trol of Congress made abolition of public 
broadcasting a major goal of their con- 
servative revolution, contending that it 
was an electronic soapbox for a liberal 
agenda. 

But Big Bird has survived, as have the 
residents of Mr. Rogers's neighborhood 
and the chefs in Julia Child’s kitchen, as 
Republicans have virtually abandoned 
their attempts to end the federal financ- 
ing of public radio and television or cut it 
back sharply. 

In fact, after a public relations and 
letter- writing campaign by the broad- 
casters, both houses of Congress have 
voted to increase the amount of federal 
money for the Corporation for Public 
Broadcasting to $300 million in the year 
2000. an increase of $50 million over 
1999. 

■Federal agencies are forbidden to 
lobby Congress for money. At the same 
time, conservative critics say the stations 
have begun to change their liberal ways 
and are providing more balanced pro- 
gramming. Radio and television exec- 
utives say they are trying to address a 
wider range of viewpoints. 

The increase in- federal money is not 
quite what Newt Gingrich, who led the 
Republicans to their majority in the 
House of Representatives in the 1994 
election, had in mind that November 
when he was asked what he would do 
with the Corporation few Public Broad- 
casting and other federal cultural agen- 
cies. 

“I personally would privatize all of 
them,” Mr. Gingrich said. 

Among the Republicans who as- 
sumed congressional chairmanships 
three years ago was Representative John 
Edward Porter of Dlinois, a moderate, 
who was named to head the appropri- 
ations subcommittee that acts on spend- 
ing for public broadcasting. 


When asked recently what had 
happened to the Republican plan to get 
rid of the corporation — and with it 
National Public Radio and television's 
Public Broadcasting Service — Mr. 
Porter said: “The American people rose 
up and said that they valued public 
broadcasting and wanted it preserved. 
And Congress backed off." 

On “Sesame Street,’' where Big Bird 
lives and offers wisdom to young chil- 
dren. a "crawl," or message, was run 
across the bottom of the screen at some 
stations. It asked the parents watching 
with their children to write to their con- 
gressional representatives about public 
broadcasting, Mr. Kohn said. 

“It was a wonderful lesson in de- 


AMERICAN 

TOPICS 

Bringing Home the Sugar 

In southern Louisiana, where 
Cajun French is still spoken, the rural 
roads are busy this time of year. It is 
harvest time for one of the country’s 
lesser-known crops, sugar cone. 

In the bayou country that sweeps 
from below New Orleans to Lake 
Charles, heavy trucks labor under 
loads of thousands of stalks of cane, 
symbols of an industry that seems lost 
in time. More than 1 J500 sugar mills 
operated in this region before the 
Civil War. The Boston Globe reports. 
Fewer than two dozen remain. But 
field workers with machetes have 
been replaced by machines, and the 
number of acres devoted to sugar cane 
has risen in recent years, to about 
375,000 1150.000 hectares). 

It is big business — but also small 
business. Grocery stores offer indi- 


mocracy." said Paula Kerger. vice pres- 
ident for government relations at WNET 
in New York, which broadcasts the pro- 
gram. "Here was ’evil Newt’ trying to 
kill Big Bird. There was a public outcry 
and we were inundated with calls from 
viewers. We told them that if they cared 
about the issue, they should let their 
elected representatives know." 

But some conservative critics, like 
Laurence Jarvik, author of “PBS: Be- 
hind the Screen,” said the campaign 
amounted to blatant, illegal lobbying. 
"TTiey broadcast the slogan ’If PBS 
Doesn’t Do It. Who Will?'," Mr. Jarvik 
said. “They had a letter-writing cam- 
paign. They organized grass-roots lob- 
bying." 


vidual stalks for sale, so much is cane 
a part of the culture in this land where 
most people trace their ancestry to the 
1 Sih century exodus from Acadia. 
Thousands fled that French-speaking 
region in eastern Canada during the 
French and Indian War, when Britain 
tried to force them to swear allegiance 
to the king. 

Today, the only U.S. cultivation of 
sugar cane is in Florida, Hawaii, south- 
ern Texas and Louisiana, which is the 
crop’s northernmost outpost With 
wintry cold approaching, and highly 
perishable sugar cane needing to be 
rushed to the mills within 24 hours of 
harvesting, there is plenty of bustle in 
normally sleepy southern Louisiana. 

Short Take 

From a high of 138 college cam- 
puses that banned military recruiters 
a few years ago, the number has fallen 
to 1 8. The schools, many of which had 
ejected recruiters in the Vietnam War 
era, came underpressure from a 1994 
law that said that banning recruiters 
could cost them federal student aid. 

Brian Knowlton 


POLITICAL NOTES 


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


Authors Join Race Talks Reconciliation. 


advisory board for the Initiative on Race and 
Reconciliation. (NYT) 




c* 


WASHINGTON — The White House has 
announced that three authors of books on race 
relations, including one who opposes affirm- 
g alive action, are to join President Bill Clinton 
* next week in a nationally televised town hall 
meeting on race. 

The writers are David Shipler. author of “A 
Country of Strangers: Blacks and Whites in 
America” (Knopf): Beverly Daniel Tamm, a 
Mount Holyoke professor who wrote “Why 
Are All the Black Kids Sitting Together in the 
Cafeteria” (Basic Books), and Abigail Them- 
strom, co-author of "America in Black and 
White: One Nation. Indivisible” (Simon & 
Schuster;. 

Ms. Therostrom is a noted critic of af- 
firmative action programs for minorities and 
women. Her inclusion comes after the ad- 
visory board for Mr. Clinton's race relations 
initiative was criticized for not seeking op- 
ponents of affirmative action to speak at its 
most recent public meeting, last week at the 
University of Maryland at College Park. 

The authors and three students chosen by 
the While House are to join Mr. Clinton on 
Wednesday in Akron, Ohio. The meeting will 
also include community leaders, business ex- 
ecutives and other students, all from the Ak- 
ron area, as well as several members of the 

^ Away From Politics 

0 • A balloon float whipped by wind gusts of 
40 miles an hour knocked down a light pole 
during Macy’s Thanksgiving Day Parade in 
New York City, injuring four spectators, two 
of them seriously. (AP) 

• Five high school students who were walk- 

ing down a flood channel before classes were 
>wept away by a torrent of water during a 
storm in Rosemead. California. Two sur- 
vived, two were found dead and another was 
missing. The powerful storm contributed to 


High Court and the Arts 

WASHINGTON — Stepping into the con- 
troversy over public funding for the arts, the 
Supreme Court has agreed to decide whether 
government may impose standards of “de- 
cency” on artists who receive public money. 

While the court has reviewed indecency 
restrictions on various media in recent terms, 
including cable television and the Internet, 
this new case arises in a sphere — the art 
world — that is by definition creative and 
expressive. 

The justices will review the constitution- j 
ality of a "1990" federal law that forced the ' 
National Endowment for the Aits to consider 
“decency" standards and respect for Amer- 
ican “values” in what. projects it decides to 
award cash grants. (WP) 

Quote /Unquote 

President Bill Clinton as he spared the life 
of a burly, snow-white, red-capped turkey 
given to the White House for Thanksgiving 
dinner “I’m granting this turkey a permanent 
reprieve." (NYT) 

numerous auto accidents and power outages 
elsewhere in Southern California. (AP) 

• Plastic fragments that rained down after 

the Oklahoma City bombing contained the 
same unique mix of chemical components as 
barrels found in Teny Nichols's garage, 
plastics experts testified at his trial in Den- 
ver. (AP) 

• A former Library of Congress specialist 

on Thomas Jefferson has been indicted on 22 
counts of theft of government property for 
allegedly stealing rare volumes. (AP) 










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PAGE 4 


ASIA/ PACIFIC 


— v 


Parole Sought for III China Dissidents 


CempSnttn tto S*jffFn*n DijpOchn 

BEIJING — Two weeks after China 
freed its most prominent dissident and 
forced him into exile in the United 
States, families or supporters of at least 
four activists still in prison have de- 
manded medical parole for them. 

Appeals have been made oa behalf of 
'Wang Dan and three others since the 
release of Wei Jingsheng on Nov. 16. 

The mother of Mr. Wang, a leader of 
the 1989 student- led demonstrations in 
Beijing that were crushed by the army, 
said she planned to renew by year’s end 
an appeal for his release on medical 
grounds. *Tt*s been half a year, they still 
have not said yes or no to our request for 
medical parole,” Wang Lingyun said. 

Mr. Wang's family says his health was - 
deteriorating, but Justice Minister Xiao 
Yang has said he had been suffering from 
throat problems but no major illness. 


Mr. Wang, 28, was sentenced in 1996 
to 1 1 years To prison for subversion. He 
had previously served four years for Vs 
role in the 1989 pro-democracy protests. 

The parents of another jailed dissident. 
Son Uyong, wrote to Mr. Xiao on Wed- 
nesday, demanding medical parole for 
their son, whom doctors have diagnosed 
with tuberculosis, his mother said. 

Mr. Sun. 36. has served all but six 
months of a seven-year prison term for 
printing a publication that demanded the 
release of those jailed for their roles in the 
1989 protests. “I'm-wonied he'll die in 
prison," said his mother, Hu Xueling. 

Amnesty International appealed for 
the release of another dissident, Chen 
Longde, who jumped from a window to 
escape beatings by labor camp guards 
and fellow inma tes in August 1996. 

Mr. Chen, 39, uses crutches to walk 
but still must work at the Luoshan labor 


BRIEFLY 


camp in the eastern province of Zheji- 
ang, the London-based human rights 
group said. He was arrested in May 1996 
and sentenced to three years of re-edu- 
cation for writing a letter to Parliament 
demanding the release of Mr. Wei. 

The wife of the veteran activist Liu 
Jingsheng, sentenced in late 1995 to 15 
years in prison for subversion, also 
sought medical parole for her husband, 
the Hong Kong-based Information Cen- 
ter of Human Rights and Democratic 
Movement in China said. 

In a related development, the activist 
Qin Yongmin, in an appeal to President 
Jiang Zemin, wrote. "We want the 
Chinese government to return to us our 
civil and political rights." 

"You have promised to make efforts 
for human rights and democracy," the 
Wuhan-based activist said in his second 
open letter in 1 1 days. (Reuters, AFP ) 


Talehan and the UN 
Make Anti-Drug Deal 

ISLAMABAD, Pakistan — Af- 
ghanistan’s ruling Taleban army has 
struck a multimillion-dollar deal with 
the United Nations to wipe out poppy 
production, officials said Thursday. 

The task will take at least 10 years and 
cost S250 million, said Pino Arlacchi, 
who struck the deal as head of the UN 
International Drug Control Program. 

Together, A fghanistan and Burma 
produce 90 percent of the world’s sup- 
ply of opium, the raw material used to 
produce heroin, he said. 

The agreement will be put to the test 
over one year in Afghanistan’s south- 
ern Kandahar Province. (AP) 

Pakistan Courts Spar 

ISLAMABAD — In the latest round 


of a constitutional crisis in Pakistan, 
the Supreme Court on Thursday over- 
turned a regional court's suspension of 
Chief Justice Sajjad All Shah. 

The Supreme Court ruled that the 
decision Wednesday try a court in 
Quetta, capital of Baluchistan Province, 
was illegal. It reinstated Justice Shah, 
who is locked in a power snuggle with 
Prime Minister Nawaz Sharif. 

The decision was made amid warn- 
ings of imminent constitutional grid- 
lock caused by the standoff between 
Mr. Sharif and the courts and President 
Farooq Leghari. (Reuters) 

Aboriginal Tensions 

SYDNEY — The Australian gov- 
ernment sparked a storm of angry crit- 
icism Thursday with its assertion that 
Aborigines may have the right to mak e 
land claims on suburban neighbor- 
hoods and other private property. 

"They’ve resorted now to bold 


lies," said Kim Beazley, the oppo- 
sition Labor Party leader. 

The government’s Senate leader, 
Nick Mfochin, warned that if senators 
did not pass a law limiting Aboriginal 
claims on land leased from the gov- 
ernment, it may also leave private 
property in doubt (AP) 

CNN Denies Apology 

KUALA LUMPUR — CNN said 
Thursday that it had dropped images of 
smog in Malaysia from an introduction 
to a regular news program but denied 
that it had apologized for its coverage 
of the issue. 

CNN said its representatives met this 
week with the Malaysian information 
minister, Mohammed Rahmat The 
Bemama news agency quoted Mr. Mo- 
hammed as saying CNN had agreed "-to 
put out fairer and accurate reports about 
the country in their programs, espe- 
cially relating to the haze. " (Reuters) 



.!\t 




UaHr*]* TV '■•»**«* ft™ 

Sam Rainsy praying with Buddhist monks Thursday after he returned to Phnom Penh from self-imposed exile. 

Opposition Leader Returns to Cambodia 


The Associated Press 

PHNOM PENH — The opposition 
leader Sam Rainsy rctnraed to Cambodia 
on Thursday, becoming the most prom- 
inent self-exiled politician to come back 
since Hun Sen’s violent takeover in Ju- 
ly- 

Mf. Sam' Rainsy, who was met by 
cheering supporters, went to the National 
Assembly upon his arrival for a “prayer 
far peace” and to call for a cease-fire 
among the country’s waning factions. 

About 200 followers applauded and 
cheered “Long live democracy” and 
“Victory" as the former finance min- 
ister stepped out of his car to hold die 


prayer ceremony at the site of a March 30 
grenade attack on a peaceful protest he 
was leading. The attack killed 16 people 
and wounded more than 150 others. 

Many believed the attack was an as- 
sassination . attempt against Mr. Sam 
Rainsy, a relentless critic of government 
corr up tion and considered fay some to be 
the most popular politician in Cambodia. 

Mr. Sam Rainsy, leader of the Khmer 
Nation Party, has attributed die blood- 
shed to Hun Sen, a frequent target of his 
rebukes. 

Mr. Hun Sen deposed his co- 
minister, Prince Norodom 
the July 5-6 coup. 


“We have to pay our gratitude to those 
who sacrificed their lives for the people 
of Cambodia to enjoy peace, freedom, 
justice,’’ Mr. Sam Rainsy said as he laid 
a wreath and bunted incense at the attack 
site in front of the assembly building. 

Mr. Hun Sen, speaking to reporters 
Thursday, said be welcomed Mr. Sam 
Rainsy’ s return and that he could con- 
tinue his political activities. 

Mir. Sam Rainsy, who left the country 
in April, did not say how long he would 
stay in Cambodia. But he stressed that 
during his visit he was willing to meet 
"anybody at all levels from all political 
parties for the sake of peace." ■ 



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INTERNATIONAL 


JAPAN: Brokerage’s Ex- Chief Admits Huge Losses Were Hidden 


Continued from Page 1 

spokesman said. “Apparently Yamaichi 

! Officials at Fuji Bank Ltd., who 
' learned Oct. 6 of Yamaichi ’s problems, 
did not go to the authorities. Yamaichi 
executives told Fuji Bank of their prob- 
Jems because it was their largest snare- 
holder and creditor. Fuji Batik officials 
have said they thought it was Yamaichi ’s 
responsibility to report the problems. 

Finance Ministry officials said they 
were not informed until Nov. 17, a week 
t$fore Yamaichi 's stunning failure, 
which threatened in turn to topple a string 
of other financial institutions here. Asked 
about the ministry’s performance, Prime 
Minister Ryu taro Hashimoto said in Ot- 
tawa, 1 it Ls, of course, their responsibility, 
and I fed shame,’’ Reuters reported. 

Instead of the Finance Ministry, it was 
market forces that exposed the Yamaichi 
scandal. Mr. Hashimoto said. 


“The most striking thing about this 
incident is that the market decided not to 
tolerate such deception.” he said. “And 
when you lose the dust of the market, 
you meet the appropriate face.” 

Nobuhiko Shima, an economic com- 
mentator, said the ministry’s actions con- 
tributed to the problem in other ways. 

“For years, the government has been 
giving guidance to these companies that 
the economy will recover soon," he 
said. “That led companies like Yamai- 
chi to believe that they could get rid of 
their bad loans once the economy got 
better and stock prices went back up.” 

Mr. Shima said people now realize 
that this was a “myth.” The Yamaichi 
collapse also gave them a stronger un- 
derstanding of the power of the market 
and the “scariness of Big Bang,” the 
nickname given to Tokyo’s plans to de- 
regulate me financial markets. 

When the markets' were heavily reg- 
ulated, the Finance Ministry was able to 


MOSCOW: Looking West to Prop Up Ruble 


Continued from Page 1 

But Russia’s relationship with the 
IMF is complex. The IMF has suspended 
its S10 billion loan to Russia because of 
the Yeltsin government’s failure to 
crack down on tax evaders. The loan was 
given to Russia in 1996 to help it carry 
forward its free -market reforms. 

Russian and IMF officials have been 
engaged in intensive talks over steps 
Moscow can take so that the disburse- 
ments can be restarted. And the central 
bank's concern over the global econom- 
ic turmoil adds a critical dimension to 
the high-stakes deliberations. 

This is not the way it was supposed to 
be. When the Yeltsin government 
mapped out its economic strategy this 
year, it had a different scenario in mind. 
Its aim was to generate economic growth 
and put Russia’s fiscal house in order. 

The economic planning was pan of a 
broader political strategy. The hope was 
that a growing economy would give a 
boost to politicians who favored a free 
market in Russia's next presidential 
election in 2000 and keep the hard-line 
nationalists and Communists at bay. 

Toward this end, Mr. Yeltsin prom- 
ised to overhaul Russia's antiquated tax 
system and undertake other reforms. 

Tnc government also planned to reduce 
Russia's budget deficit and push down the 
interest rate on Russian Treasuiy bills to 
14 percent by the end of the year. 

The- government has financed much 
of the deficit by issuing Treasury' bills at 
high interest rates. But Russia’s depend- 
ence on Treasuiy bills has raised the 
government’s debt-servicing costs, and 
high interest rates hurt the chances for 
economic growth. 

And then Asian economies faltered. 


triggering a downturn in global stock 
markets. 

Despite its success in stabilizing its 
economy, Russia discovered it was par- ’ 
ticularly vulnerable to the disarray in the 
global capital markets. Korean investors 
needed money to cover their losses in 
Asia and began selling their Russian 
Eurobonds, driving die price dawn. 

With foreign investors pulling their 
money out of emerging markets, the 
Russian stock market has fallen about 40 
percent since early October. 

Foreign investors also moved to sell 
their Russian Treasury bills. That was 
particularly worrisome because foreign 
investors owned an estimated $15 bil- 
lion to $20 billion in Treasury bills, 
about a third of the market. 

To prevent panic selling, the central 
bank has established a system that re- 
quires foreign investors to give a 
month's notice to sell the bills and con- 
vert the rubles they receive from the 
sales into dollars. 

But now, nearly a month has elapsed 
since the onset of the crisis, prompting 
Sergei Dubinin, the chairman of Rus- 
sia’s central bank, to call this a “de- 
cisive” period. 

The central bank took one important 
step: It raised the interest rate on Treas- 
ury bills to 28 percent Srom 21 percent to 
encourage foreign investors to stay in the 
market. 

But there are other strains. Russian 
banks lost money on the stock markets 
and in bonds. Many of them also have 
contracts with Western in vestors requir- 
ing them to convert rubles into dollars at 
agreed exchange rates. That makes Rus- 
sian banks particularly vulnerable if 
Russia ’s currency is devalued. 

Mr. Teplukhin of Troika Dialog said 


prevent bankruptcies by forcing compa- 
nies to prop each other upv Fuji Bank 
refused to bail out Yamaichi. analysts 
said, because it has its own problems 
trying to prepare for deregulation and 
more competition. 

Mr. Yiikih ira, who resigned in August 
following revelations that Yamaichi 
paid off corporate racketeers, expressed 
regret Thursday for the illegal losses. 

“1 do not know how 1 can find any 
expression of apology to Japanese 
people, the government or our share- 
holders,” he said. 

But he denied allegations that he was 
involved in illegal insider trading, say- 
ing he had not sold any shares this year. 
Yamaichi said Thursday that it was in- 
vestigating a media report that Mr. Yti- 
kihira and another former chairman, Ky- 
nzo Uetani, had sold large numbers of 
shares before Yamaichi announced it 
was filing for voluntary closure Mon- 
day. Mr. Uetani also denied the charge. 


Malaysian Leader 
Stops in Taiwan 

Reiners 

. TAIPEI — Prime Minister Ma- 
hathir bin Mohamad of Malaysia 
made a surprise transit stop in 
Taiwan ou Thursday and met with 
Prime Minister Vincent Siew de- 
spite the lack of diplomatic ties be- 
tween their nations, the officiai 
Central News Agency reported. 

The nature of their talks was not 
disclosed, although Taiwan offi- 
cials have said that several unspe- 
cified Southeast Asian nations 
caught up in the recent currency 
turmoil had turned to the wealthy 
Asian “tiger" for advice and as- 
sistance. It was not known whether 
Malaysia was among them. 

Mr. Mahathir's stopover lasted 
less than an hour, the agency said. 

Despite extensive bilateral trade 
and investment ties, Malaysia has 
no ; diplomatic relations with 
Taiwan's government, recognizing 
only the People's Republic of China 
" in Beijing. 

Visits by prominent heads of 
state are extremely. rare in Taiwan, 
which has been seen by China since 
the 1949 civil war as a renegade 
province that is ineligible for dip- 
lomatic recognition. 


devaluation could also cause panic 
among ordinary Russians. 

So far, the central bank has been main- 
taining the exchange rate by dipping into 
its reserves to buy rubles. But the central 
bank’s reserves are not unlimited, and 
they include $4.8 billion in gold, which 
cannot be immediately spent 



KOREA: $20 Billion Won’t Be Enough 


Continued from Page 1 

bob that Seoul drop its insistence that the 
owners of companies, and their families, 
use their real names on all accounts to 
prevent people from hiding their assets 
under false names. 

President Kira Young Sam imposed 
the rule against pseudonyms shortly 
after becoming president in 1993 to try 
to prevent die chaebol and their owners 
from secretly amassing huge wealth. 


enormous taxes will be imposed if the size 
of all their accounts suddenly surfaces. 

After weeks of denying it needed help. 
Seoul turned to the IMF last week to 
request $20 billion in emergency' loans 
to reassure foreign investors that debts 
could be paid in dollars or yen and that 
national reserves will be sufficient to 
support the won. The central bank di- 
rector, Lee Kyong Shik. later called the 
$20 billion figure “too low" and said 
$60 billion would be “too high. 

Many analysts said South Korea will 



Yiehilatu Trt If-nr* Fresr- iVv— 

Mr. Yukihira testifying Thursday. 


Economic Cooperation forum, Mr. 
said bluntly, “If the system is abolished 
or revised, we will have a very un- 
fortunate country.” 

Chaebol leaders argue, however, that 
the real-name system is forcing many 
account-holders to continue to hide tbeir 
assets rather than use them to pay off 
debts. The chaebol are said to fear that 


GOLD: For Traders, Bullion Loses Glitter 


Continued from Page 1 

In Belgium, the Netherlands. Portugal 
and Australia, central banks this year 
already have sold some of their reserves. 
The Swiss National Bank has said it is 
mulling its own gold soles, while the 
German Bundesbank recently said it has 
been lending gold 

Given the imperial magnitude of cen- 
tral bank gold holdings, such disclosures 
have put bullion markets under sus- 
tained pressure. 

Central banks hold about one-third of 
the world’s total gold stockpiles, equiv- 
alent to several decades of combined 
production. 

Bars of gold bave become “dead cap- 
ital” because they earn no interest, said 
Adolf Rosensiock, economist at the In- 
dustrial Bank of Japan. 

Interest-bearing securities like Treas- 
ury bills have become as good as gold for 
central banks and other institutions. 

“Even managing gold is a nuisance,' ' 
said Jose Luis Alzola, once an official at 
the Bank of Spain and now an economist 
at Salomon Brothers in London. 

“Moving it, physically, has a big 
cost,” he said, referring to heavily 
guarded operations with armored 
vehicles. 

Gold even seems to have lost its glitter 
as a safe haven from turbulence in more 
volatile markets. 

The gold sell-off has coincided with 
the financial crisis in Asia, prompting 
reports from the Far East that distressed 
governments and banks are selling their 
gold to cover losses on currencies and 
shares. 

Even individuals have resorted to 
selling gold back to jewelers, a World 
Gold Council representative told Reu- 


ters on Thursday. “In countries like 
Thailand, there is a lot of selling back to 
the market,” said Koh Tong Huat, the 
council's regional manager for the Far 
East 

Traders said there was little prospect 
of an imme diate price recovery. Button 
markets are primed to pressure gold 
prices as low as $290 and $280 an ounce, 
they said. Any central bank announce- 
ments of gold sales, in addition to those 
already known, could push the price 
precipitously lower, some investors 
speculated. 

And the golden rule of using the metal 
as the world's premier inflation hedge no 
longer applies, Mr. Alzola said. Con- 
sensus fra: price stability among the in- 
dustrial nations has entrenched itself so 
deeply that few economists expect any- 
thing stronger than mild cyclical waves 
of inflation in the future. Gone are die 
days of price shocks, and with them, foe 
need for inflation pegs, said Francois- 
Xavier Cauchat, an economist in Paris at 
foe Cheuvreux de Virieu investment 
house. 

With many economists now describ- 
ing the world’s dominant economies in a 
period of “disinflation'* or even “de- 
flation," the prospect of inflation shocks 
seems remote, economists said. “Gold's 
function as a store of value might not be 
as secure as most people think,” Mr. 
Rosenstock said. 

But Deborah Cookson, spokeswoman 
at the World Gold Council, disagreed 
that gold has lost its investment role. 

The fact that institutions in Indonesia 
and Thailand are able to convert their 
gold into “liquid cash” demonstrates 
that the precious metal “has served its 
purpose as a store of value extremely 
well.” 


surpassing the 550 billion rescue 

Mexico in 1995. . * 

The stare-run YonhapTelevision News 
reported Thursday that the country may 
have to request as much as $50 billion. 
Mr. Lira, foe Finance Minister, said, 
“The amount of emergency rescue funds 
could vary, depending on tow many IMF 
members will take part in it. 

After meeting Hubert Neiss, head of 
the IMF delegation to South Korea. Mr. 
Lim said Mr. Neiss had told him that the. 
World Bank and the Asian Development 
Bank had “actively expressed interest” 
in joining the program. 

Mr. Neiss said the IMF assistance 
package would be large enough to re- 
solve the country's financial crisis, Mr. 
Urn asserted. 

Cooperation with the United States and 
Japan remains another important factor in 
the fomiulation of the package, he said. 

Mr. Lim said the chief IMF negotiator 
had promised to speed up South Korea's 
loan application. 

He also said the South Korean situ- 
ation would be on the top of foe agenda at 
a regional ministerial conference to be 
held in Malaysia next week. 

Officials said the first IMF money was 
not expected. to arrive for two weeks. 

While cutting back on investment 
plans, some chaebol leaders contended 
that the crisis is short-term. 

Kim Woo Choong, chairman of the 
Daewoo group of companies. South 
Korea's fourth- largest chaebol in terms 
of sales, said Seoul had “foe capability 
to cope with foe current difficulties.” 

Mr. Kim predicted the financial mar- 
kets would “regain calm by March next 
year at the earliest and in two to three 
years at foe latest” 

Worries about what measures foe IMF 
will demand in return for providing the 
line of credit weighed on foe markets. 
The dollar on Thursday rose to 1 , 1 19-50 
won from 1, 109 JO won on Wednesday. 
The main stock index dropped to 453. 10 
from 438.70. 

A Finance Ministry spokesman. Kim 
Woo Sole, denied reports of differences 
over foe size of South Korea ’s request or 
the requirements stipulated by the IMF 
for disciplining the nation's debt-ridden 
institutions. “It is too early to say foal 
there are conflicts,” he said. 





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BBC 


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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


f 'Ar'-'.'Sr. 


INTERNATIONAL 


^Snubbed by Clinton, Netanyahu Jests 


j CaB W*OmSttfF*mDt*Kkn 

— Upset by President Bill 
union s repeated snubs. Prime Minister 
, Benjamin Netanyahu complained that ‘“the 
lAmeneans are treating me like Saddam Hus- 
,SeJ Sk*f ne ^' s P a P er reported Thursday. 

| w “ite aides to the prime minister said he 
jwas yoking in jest, Mr. Netanyahu has tried, 
i and failed, for weeks to be received at the 
| w rate House, apparendy because Mr. Clinton 
flames the Israeli leader for the current dead- 
u°ck m Middle Ease peace negotiations 
I. The prune minister addressed territorial 
[issues again Thursday, offering to give Pal- 
[estinians more West Bank land within five 
months provided they fought “terrorism" 
( and entered into accelerated talks on a final 
accord. The five-month length of time. 


[disclosed in a speech to Israeli newspaper 


‘Americans Treating Me Like Saddam Hussein 



iland as insufficient. 

! The Israeli cabinet plans to debate the pro- 
posal Sunday. 

\ tc Mr. Netanyahu said he had proposed that 
‘“all the redeployments will be blended into 
jone redeployment, that this redeployment will 
jtake place within five months on the condition 
{that there is concrete Palestinian activity 
[against terrorism, a fulfillment of their com- 
Imitments.” 

! Under pressure from the United States to 
[end a stalemate with the Palestinians in the 


peace discussions, Mr. Netanyahu this week 
offered a conditional troop pullout from the 
West Bank but without providing details. 

In remarks to newspaper editors Thursday, 
Mr. Netanyahu did not say how much territory 
Israel would transfer to Palestinian control. 

He had conditioned further Israeli troop pull- 
outs on Yasser Arafat, the Palestinian leader, 
reining in die Muslim militants behind suicide 
attacks that have killed scores of Israelis. 

Mr. Netanyahu's proposal to combine three 
planned interim redeployments into one was 
likely to be rejected by Palestinians who be- 
lieve he wants to mire the final talks to avoid 
handing over any more land. 

Hod an Ashrawi, a Palestinian cabinet min- 
ister, told the BBC in London, “We are 
rapidly heading into nowhere.” She blamed 
Israel for destroying the foundations of the 
peace process, reneging or canceling signed 
agreements and then going into the nego- 
tiations without a genuine commitment. 

Israeli hard-liners have threatened to bring 
down Mr. Netanyahu and his government if 
the cabinet approves any redeployment Mr. 
Netanyahu bolds power by a slim margin of 
six seats in the 120-member Parliament. 

The Israeli leader must also contend with 
growing U.S. impatience over the deadlock. 

Asked in a CNN television interview Wed- 
nesday about Mr. Clinton's apparent refusal to 
meet with him. Mr. Netanyahu said: “It's 


unbecoming, it doesn’t befit nations who are 
allies, and even doesn't befit nations who are 
not allies.” 

Asked if he was insulted, Mr. Netanyahu 
replied: “No prime minister of Israel is hu- 
miliated personally. All insults are directed at 
die office of the prime minister, and the entire 
Jewish state feels humiliated if action is taken 
against us.” 

This month, Mr. Netanyahu flew to the 
United States to address American Jewish 
leaders but failed to win an invitation to the 
White House. Making the slight worse, the 
paths of Mr. Clinton and Mr. Netanyahu 
crossed in Los Angeles, with their planes 
parked just yards away from one another. 

This week, Mr. Netanyahu ordered his 
aides to stop trying to arrange a White House 
meeting, and on Wednesday he told leaders of 
the'World Jewish Congress in a private meet- 
ing in Jerusalem that “the Americans are 
treating me like Saddam Hussein," the news- 
paper Yedioth Ahronoth reported. The news- 
paper quoted Mr. Netanyahu 's aides as saying 
that the prime minister was joking. 

In other remarks Thursday. Mr. Netanyahu 
issued a veiled threat to annex occupied Pal- 
estinian territory if Mr. Arafat went ahead 
with plans to proclaim an independent state in 
18 months. 

“Any such unilateral act by the Pales- 
tinians would prompt unilateral actions by 



S*a NxkvrmWA&aX Praaz-f’rcTi- 

Prime Minister Benjamin Netanyahu 
discussing territorial issues in a meeting 
with Israeli journalists on Thursday. 

Israel on both the territorial and operational 
levels,” Mr. Netanyahu said in a clear ref- 
erence to possible land annexations. 

“I would advise that no one take unilateral 
actions.” Mr. Netanyahu repeated when 
asked at a news conference about Mr. Arafat's 
stated intention to proclaim Palestinian in- 
dependence in May 1999, the end of the five- 
year period laid down by the Oslo peace 
accords for Israelis and Palestinians to reach a 
final peace agreement (AP, Reuters, AFP) 


A local presence is the key to 
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Airline Regulator 
Calls for 747 Fixes 

Fuel Pump May Have Caused Crash 


By Matthew L. Wald 

Afar York Tours Service 


WASHINGTON — In ordering an immediate change m 
fuel pumps in Boeing 747s and proposing wiring changes as 
well, die Federal Aviation Administration has said that tee 
conducted after the crash of TWA Flight 800 pointed to born 
as potential causes of its mid-air explosion. t 

Thomas McSweeny, director of the regulator's a Jf c ™J 
certification service, said Wednesday that tile agency believed 
it was “prudent" to make the changes, although it says there 
was “no evidence” that either was the cause of the accident. 

The National Transportation Safety Board, another federal 
agency investigating the crash in July 1996 that killed all *30 

people aboard, has concluded that Right 800 was destroyed 
when the center wing tank, containing only a few gallons of 
fuel but filled with explosive vapors, somehow ignited. 

The board has not recommended the changes announced 
Wednesday. It has been pushing fora far more ambitious action 
— inserting inert gas into the empty space in fuel tanks to 
prevent an explosion. But because that would be expensive, the 
airlines have objected. And die Federal Aviation Adminis- 
tration, which has Often been criticized as being too close an ally 
to the airlines it regulates, has resisted the recommendation. 

The aviation agency’s action came less than two weeks 
before the National Transportation Safety Board is scheduled 
to begin bearings in Baltimore into the cause of the crash. The 
agency has now put itself on record before those hearings as 
having taken some corrective action, if not the one that the 
safety board wanted. 

The safety board’s approach would cover all planes with 
belly tanks, not just Boeing 747s. 

Mr. McSweeny of the Federal Aviation Administration said 
his agency had decided to issue the order regarding the fuel 
pumps after tests showed that silicone seals used in parts of 
one of the feel pumps could dissolve on contact with jet fuel, 
which, in addition to powering the plane, is used to cool and 
lubricate the pump motor. 

If the silicone disintegrates, fuel could squirt into the wheel 
well behind the center tank, where it could ignite, Mr. Mc- 
Sweeny said. The pump in question is called a "scavenge 
pump,” which drains out the last few gallons from the center 
tank. The scavenge pump from Right 800 is part of the 4 
percent of the airplane that searchers have not recovered. 

Boeing said that the silicone had been added to some fuel 
pumps after their initial installation and that the company had 
already issued a ‘ ‘service bulletin’ ’ to its customers "to inspect 
and correct all scavenge pump connectors on affected 747s.” 

The aviation administration gave American owners of 747s 
90 days to replace any pumps that use the silicone seal. There are 
196 Boeing 747s registered in the United States that could have 
such pumps, and 970 worldwide, the agency said, adding that 
inspecting or replacing the pump was a simple job that could be 
done when the aircraft undergoes routine maintenance. 

The second change sought by the Federal Aviation Ad- 
ministration would be far more complicated. The agency 
wants airlines to replace wiring in a place where wires enter 
the tank, known as die “fuel quantity indication system.” 

Investigators have long theorized that a spark was created in 
this system, where fuel probes send signals back to the cockpit 
to tell the crew how much fuel is left 

Using very small electrical currents, a probe senses how 
high the fuel rises. But, Mr. McSweeny said, lab tests had 
shown that if the wiring to the fuel probes was bundled with 
high-voltage wiring for several feet, and if the high-voltage 
wiring carried an electrical current that was suddenly cut off, 
an electrical surge in the fuel system wiring could occur. 

The aviation administration’s proposed solution is to have 
airlines install components, that would suppress electrical 
surges, or rewire their planes to separate the fuel probe wiring 
from other wires. The proposed order affects 747- 100s. the 
kind that crashed, plus 747 -200s and 747-300s, but not the 
models currently under production. In the newer planes, the 
wiring was routed separately. If adopted, the rale would affect 
167 aircraft registered in the United States, out of 650 world- 
wide. It would cost $13,200 per aircraft, the agency said. 

One of the problems for the National Transportation Safety 
Board, though, is that no probes were recovered intact from 
the wreckage, meaning the role of the fiiel probe wiring in the 
catastrophe is not clear. 


BRIEFLY 


Ottawa Probe on Tainted Blood 
Calls for Victim Compensation 

OTTAWA — Thousands of Canadians who contracted 
AIDS and Hepatitis C from contaminated blood should be 
compensated without having to file suit, a federal inquiry 
has asserted. 

The report released Wednesday by Justice Horace 
Krever blames the system for the tainted blood products 
administered in the early 1980s. While it singled out no 
one, the report sharply criticized health officials for delays 
in using methods to screen donated blood sooner. 

Under an arrangement reached in 1993, some he- 
mophiliacs who contracted AIDS have already been 
awarded compensation of $23,000 a year, on the con- 
dition they waived their right to sne. 

In the report. Judge Krever recommends that people 
who find out they were infected before the blood supply 
was properly regulated should be compensated without 
having to prove fault. He does not exclude people with 
Hepatitis C. f/VJTi 

Militants Warn Egyptian Army 

CAIRO — The militant group that said it slaughtered 58 
foreign tourists this month in southern Egypt warned in a 
statement Thursday that using the army to give tourists 
more protection would only make matters worse. 

“The participation of the army in the confrontation 
does not solve the problem, it will only make it worse,” 
said the Islamic Group, Egypt's largest militant oro'a- 

a foe army, which is a 


nization. The group said it "calls on 
national institution, not to take sides.” 


(Renters) 


Iran Frees 500 Iraqi Prisoners 

TEHRAN — Iran freed 500 Iraqi prisoners of war on 
Thursday and urged Iraq to help end the issue of the 
remaining POWs from their 1980-88 war, Iranian stale 
media reported. 

The POW issue is among the thorniest issues that are 
blocking normalization of ties between the two countries. 

Baghdad says more than 18,000 Iraqis are still held in 
Iranian camps, about 8,700 of whom it says are registered 
with foe International Committee of the Red Cross 
Tehran denies foe Iraqi figure and says from 5,000 to 
10,000 Iranians are held by Baghdad. (Reuters ) 

American Is Convicted in Cuba 

HAVANA — A U.S. citizen tried in Havana on charges 
ofirying to promote an uprising in Cuba has been sentenced 
to 15 years in prison, diplomatic sources have said. 

Walter Van Der Veer, 52, was arrested in Havana in 
August 1996, and was tried Nov. 6 in a six-hour hearing in 
Havana. The prosecutor had been seeking a 20-year 
sentence after dropping an initial recommendation for the 
death penalty. The sources said Wednesday that Mr. Van 
Der Veer did not intend to appeal. (Reuters) 


ir 



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|J&£> 


ENTERNATION AL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


PACE 


EUROPE 



Coalition Partner Asks 
Czech Leader to Resign 

Klaus Hit by Foreign-Donation Scandal 


Thr Associated Press 

PRAGUE — Prime Minister Vaclav 
Maus came under pressure to resign 
Thursday when his deputy and key part- 
ner m a shaky coalition government 
called on him to quit over a party fi- 
nancing scandal. 

Nobody worried too much when 
newspaper reports said in the spring of 
1996 that there was something wrong 
with -the 7.5 million koruna ($222350) 
that Mr. Klaus's Civic Democratic Party 
received from two foreign donors. 

Now, the party seems to be in big 
trouble. It emerged this week that the 
donations came from a businessman and 
former tennis star. Milan Srejber who 
had just acquired a large slake in a steel 
concern privatized by Mr. Klaus’s gov- 
ernment. 

On Thursday. Deputy Prime Minister 
Josef Lux — head of the Christian 
Democratic Uni on -Czechoslovak 

People's Party, one of three parties in the 
shaky coalition government — called cm 
the prime minister to quit if he had known 
the true identity of the donor earlier. 

The scandal first broke in April 1996, 
when the daily Mlada Fronta Ones said 
that Lajos Bacs of Budapest, who 
donated 3.75 million koruna to the party 
in 1995, had died 13 years ago, and that 
Rajiv Sinha of Mauritius, donor of an 
equal sum. had never heard of the party. 

Mr. Klaus's Civic Democratic Party 
said it would investigate who the mys- 
terious donors really were. But the affair 
quickly faded from view. 

The resignation of Josef Zieleniec 
from the post of foreign minister and 


vice chairman of the party last month 
revived interest in the affair. Mr. Ziel- 
eniec cited lack of transparency in party 
financing as one reason for stepping 
down. 

Mr. Klaus’s people started to inves- 
tigate again, and it was revealed that the 
donor was Mr. Srejber. the former Czech 
tennis champion, whose company won 
its bid in October 1995 for one of the 
three biggest steel works in the country. 

Libor Novak, the Civic Democratic 
Party's former vice chairman who was 
then in charge of handling donations, so 
far has assumed all blame. Mr. Novak 
said Thursday that he had advised 
Moravia Steel, the company in which 
Mr. Srejber bad a 25 percent stake, not 
to give the money until the privatization 
of the steel works was complete and 
perhaps to send the money through 
"other subjects.” 

The money arrived on the party's ac- 
count in November 1 995, along with two 
letters, one from Mr. Bacs, the second 
from Mr. S inha, Mr. Novak said. 

When the media cast doubt on the two 
donors in April last year, Mr. Novak did 
nor inform the leadership of his party as 
to who the real sponsors might be, “in 
efforts to keep the maximum shar e of 
responsibility,” he admitted Thursday. 

But Mr. Zieleniec said be learned the 
true identity of the donor from an aide 
and had personally informed Mr. Klaus 
about it before the June 1996 parlia- . 
mentary elections in which Mr. Klaus 
narrowly lost his majority in the 200- 
seat legislature. At the time, Mr. Klaus 
denied knowing who the donor was. 


France to Allow Genetic Com 


The Assucidted Press 

PARIS — France told its farmers 
Thursday that they could grow a ge- 
netically altered com that is resistant 
to disease, but it banned the sale of 
genetically altered rapeseed and sug- 
ar beets. 

Agriculture Minister Louis Le Pen- 
sec said at a news conference that 
farmers could cultivate a strain of com 
produced by Novartis AG of Switzer- 
land that is resistant to disease-car- 
rying insects and that the crop would 
be clearly labeled for sale. 

But Mr. Le Pensec said the gov- 
ernment would not authorize sales of 
other genet ically altered crops “until 
the risks of dissemination in the en- 
vironment or health risks to con- 
sumers are perfectly controlled." 

Mr. Le Pcnscc said ihe govern- _ 

ment was awaiting results of a study" 
to determine the environmental risk. 


if any, from the other crops. 

Environment Minister Dominique 
Voynet, who appeared with Mr. Le 
Pensec, said the authorities were 
delaying any decision ‘ ‘so that public 
debate can be completed” 

French farmers, among the biggest 
producers in a multibillion -dollar 
global market, are under pressure to 
grow genetically altered crops for 
their higher yields. But environmen- 
talists have lobbied the Socialist-led 
government to withhold its appro vaL 
A farmer. Pascal Viguier, said he 
was eager to start growing the genetic 
com. For some diseases, “there’s no 
more treatment; there's nothing left to 
buy,", he said in an interview with the 
French television-news channel LCL 
The com will cost more, he said, 
“but there’s a gain for the envir- 
onment ; because there won’t be any 
more treatment with pesticides.” 


Students March on Bonn 

Thousands Converge to Protest Cuts in Funding 


Qmqnk\l (*1% Stiff FnwDapaicbij 

BONN — Tens of thousands of uni- 
versity students converged on Bonn on 
Thursday to protest spending cuts that 
they say are eroding Germany’s cher- 
ished tuition-free university system. 

Capping weeks of local protests, stu- 
dents from 25 universities traveled in 
cars, buses and special trains to Bonn to 
confront federal lawmakers pushing 
austerity measures designed to help 
Germany meet its goal of qualifying for 
the single European currency. 

The police said about 40,000 students 
had turned out for the protest, some 
deliberately jamming traffic along high- 
ways into Bonn by driving slowly. 

Students complain that the cuts in 
spending on education have been too 
deep. Classrooms are crowded, they say, 
equipment is often outmoded, texrbooks 
are scarce, and cuts in government loans 
and grants that have totaled about one- 
third since 1 992 have left many students 
without enough money for living costs. 

Some cited Parliament’s action Wed- 
nesday in approving S50 million 


Deutsche marks ($483 million) in initial 
funding toward the 23 billion DM that 
the cabinet is seeking for 1 80 Eurofight- 
er combat jets. 

“The university budgets are being 
cut," said Andre Lang, a 21 -year-old 
business student from Cologne. “I 
guess it’s because politicians figure it’s 
a way of least resistance.” If the gov- 
ernment tried making similar econo- 
mies on the Eurofighrer, he said, "then 
they would run up against a totally dif- 
ferent kind of obstacle.” 

Education Minister Juergen 
Ruettgers said he took the students’ 
demands seriously and planned to meet 
with student leaders. "I want people to 
be able to study in Germany regardless 
of whether they are rich or poor," he 
told ARD television. 

Professors and lecturers have encour- 
aged the students to strike and have 
joined them in the streets. “I am amazed 
at the patience that the students have 
shown up to now." said Klaus Bore hard, 
deputy chancellor of Bonn’s Friedrich- 
Wilhelm University. (AP. Reuters ) 



BRIEFLY 


Bmml (XnupjK.ltniKTs 

Javier Solatia Madariaga, the NATO secretary-general left, greeting 
Prime Minister Jerzy Buzek. of Poland in Brussels on Thursday. 

The Drive to Join NATO 

3 Prospective Members Speak Out on Why 


By Jane Perlez 

Neir York Times Sen ice 

PRAGUE — The three presidents of 
the Central European countries that 
have been invited to join NATO are 
unlikely to make an appearance in the 
Senate committee rooms in Washington 
where the debate over expanding the 
alliance will heat up early next year. 

But in an “if you were there” ex- 
ercise, Transitions magazine, a Prague- 
based monthly, asked the three leaders 
to imagine such an encounter. 

Their articles are to be read as the 
most persuasive rationales for these 
three former Soviet satellites to be em- 
braced by the Western military alliance, 
said the executive editor of Transitions. 
Michael Kaufman. 

The three leaders, who will probably 
send their foreign ministers and Amer- 
ican boosters for the real debate, appear 
to understand well the counterargu- 
ments they face. They warned against 
U.S. isolationism, emphasized their 
ability to pay their way and played down 
the threat of Russian opposition to 
NATO expansion. 

A two-thirds majority is required in 
the Senate for the expansion of NATO, 
the toughest hurdle before the three pro- 
posed members can formally join. The 
legislatures of the 15 other NATO mem- 
bers must also approve the move for it to 
take effect 

The Polish president, Aleksander 
Kwasniewski, called U.S. isolationism 
an “anachronism." 

“It is surely obvious today,” he 
wrote, “that the absence of the United 
States in European policy in the years 
preceding both world wars was not the 
best way to defend America’s vital in- 
terests." 

At the same time, he said Poland did 
not expect a free ride in NATO. Poland 
had pledged to increase its military 
budget 3 percentage points faster than, 
its economic growth rare, he said, 
adding, “We want to occupy a place in 
the civil and military structures of the 
alliance proportional to our contribution 
and our strategic position." 

The Poles, suspicious of Russia after 
more than a century of occupation dur- 
ing czarist times, are by far the most 
enthusiastic supporters of joining 
NATO. Surveys say that more than 80 
percent of Poland's nearly 40 million 
people consistently want their army to 


be pan of NATO. 

- The Hungariai 


- The Hungarian president, Arpad 
Goncz, a former dissident and play- 
wright, urged U.S. senators not to worry 
that American soldiers might die in the 
defense of Budapest. 

“Some people say that NATO en- 
largement means that in the case of a 
major conflict, American soldiers 


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would die protecting Central European 
cities," he said. “I think those people 
are wrong. Under the bipolar world or- 
der, in the years of bitter enmity, not a 
single soldier of NATO died fora mem- 
ber state of the alliance.” 

Mr. Goncz acknowledged that for 
Hungary — landlocked, with only 10 
million people and coming out of a 
communist economy — collective de- 
fense was the best option. 

Vadav Havel, president of the Czech 
Republic and also a former dissident 
and playwright, chose to dwell on the 
costs of U.S. isolationism. 

“Some Americans still consider in- 
volvement in Central and Eastern 
Europe an unnecessarily costly, un- 
needed and untimely undertaking.” he 
wrote. “Europe, however, is connected 
with America through thousandfold 
links and bonds." 

■ Cost of Expansion: $1.3 Billion 

NATO’s 16 member states approved 
studies Thursday that estimate it will 
cost the alliance some $1.3 billion over 
10 years to admit the Czech Republic, 
Hungary and Poland as new members, 
Reuters reported from Brussels. 


Belgium Will Try 
Ex-Defense Chief 

BRUSSELS — A parliamentary 
panel recommended Thursday that 
Guy Coe me, a former defense min- 
ister. stand trial for bribeiy involving 
a 1 989 contract to modernize F- 16 jet 
fighters for the Belgian Air Force. 

The recommendation to lift Mr. 
Coeme's parliamentary immunity 
and try him in Belgium's highest 
court came from a special legislative 
panel that has been hearing allega- 
tions against him put together by. 
justice officials. The panel’s opinion 
rhar Mr. Coenie must face charges of 
forgery and accepting, on behalf of 
his Socialist Party. 30 million francs 
(almost $1 million) from the French 
aviation firm Dassault is expected to 
be endorsed by the full legislature in 
a vote scheduled for Dec. 4. 

Mr. Coe me is no longer a member 
of government or Parliament but the 
Dassault scandal dates back to the 
days when he had parliamentary im- 
munity. 

Last year, the high court convicted 
Mr. Coeme for corruption in a case 
involving a polling institute that was 
overpaid for doing unnecessary and 
politically tainted surveys for the 
government. He received a two-year 
suspended prison sentence. (AP) 

Britain Reassures 
Czechs on Visas 

PRAGUE — Foreign Secretary 
Robin Cook said Thursday that Bri- 
tain had no plans to reinstate a visa 
requirement for Czech citizens, de- 
spite the ‘receni wave of Czech 
gypsies who landed in Britain seek- 
ing political asylum. 

During a one-day working visit to 
Prague. Mr. Cook said Britain was 
stringently verting claims of perse- 
cution, and he sent a stiff warning to 
those who had no grounds to seek 
asylum. 

"It is very important that Britain 
gets across the message that Britain is 
not a soft touch for anyone claiming 
asylum falsely," he said at a press 
conference with his Czech counter- 
part, Jaroslav Sedivy. (Reuters) 

French Watchdog 
Assails Projects 

PARIS — France's national audit 
body on Thursday criticized costly 
“muddle" and incompetence in a 


string of ill-fated public projects, 
which it says have wasted hundreds 
of thousands of francs of taxpayers' 
money. 

In its annual report, the Cour des 
Comtes listed failures ranging from 
more than 400 million francs ($65 
million) spent on a conference center 
that was never built, to overpayment 
of producers on state television. 

The report, based on inquiries by 
560 investigators across France, cus- 
tomarily highlights the worst finan- 
cial failures and has regularly led to 
further investigations.und even pros- 
ecution. 

Seventy-nine cases ended up in 
court as a result of last year's report, 
compared with 37 in 1993. tAFP) 

2 Are Slain in Clash 
In Kosovo Region 

BELGRADE — Two men were 
killed and two were wounded in 
overnight clashes between the Ser- 
bian police and ethnic Albanians in 
the restive south Serbian province of 
Kosovo, the police said Thursday. 

Ethnic Albanians outnumber 
Serbs by nine to one among 
Kosovo's population of 2 million. 
More than 30 people from both com- 
munities have been killed in the last 
rwo years in the province. 

In the anack with nfle grenade 
launchers and automatic weapons, 
one police officer was killed and two 
policemen were lightly wounded, the 
police statement said. “To repulse 
the attack, in keeping with the law. 
police used firearmsf killing one at- 
tacker, and have undertaken intens- 
ive measures to find the other at- 
tackers. "it added. t Reuters ) 

For the Record 

President Boris Yeltsin, side- 
stepping the Russian Parliament to 
break an impasse over land own- 
ership. has signed a decree allow ing 
Russians to freely buy and sell land in 
cities and towns throughout the na- 
tion. The decree cuts through a Par- 
liament-imposed block on private 
land ownership. The decree is ef- 
fective until a land code is intro- 
duced. (AP) 

The war crimes trial of Maurice 
Papon will resume Dec. 4. a French 
judge ruled Wednesday after a court- 
appointed medical expert said the 
defendant would be well enough to 
return in a week. Mr. Papon. S7, was 
diagnosed as suffering from a chron- 
ic bronchial infection. (AP) 



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INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28,1997 


INTERNATIONAL 


At Ma ndel a Hearing, Tales of Rape by 6 




Dmn Fancfl/Tbc Ammalcil Plen 

Winnie Mandikizela-Mandela lis- 
tening at the hearing Thursday. 


GMfdnlby&rSkffnimDbixulmi 

JOHANNESBURG — The body- 
guards of Winnie Madikizela-Mandela 
terrorized the black township of Soweto 
Herin the late 1980s, raping nigh school 
girls and prompting students to set her 
house on fire, former anti-apartheid col- 
»aes assarted Thursday. 

situation became so volatile that 
secret contacts were made with Mrs. 
Madikizela-Mandela’s imprisoned hus- 
band at the time. Nelson Mandela, and 
the exiled leader of the African National 
Congress, Oliver Tambo, to try to bring 
her under control, they said. 

- Mr. Mandela, now president of South 
Africa, was released from prison in 
1990. The couple separated in 1992 and 
divorced last year. 

Top government and ANC officials 


ANC Was Concerned About Her Soiling Her JailedHusbaruTsName 


who worked with Mrs. Madikizela- 
Mandela in the 1970s and ’80s told the 
Truth and Reconciliation Commission 
bow her notorious bodyguard unit, 
known as the Mandela United Football 
Club, terrorized the neighborhood and 
threatened to soil the family b*ttk»_ 

The panel, which is investigating po- 
litically motivated crimes committed un- 
der apartheid, is looking into IS hom- 
icides and other human rights violations 
allegedly committed by Mrs. MadikizeJa- 
Mandela and her bodyguards. 

While the commission lacks power to 
press charges, it can trim over evidence 
to the police for criminal investigation. It 
will compile a report next year on human 


rights abuses during more than .three 
decades of apartheid rule in South 
Africa. 

Safety and Security Minister Sydney 
Mufamadi said Thursday that he would 
wait for a mnh commission report before 
deciding whether to reopen an inquiry 
into the murder allegations against Mrs. 
Madikizela-Mandela. 

“I have tremendous respect for die 
Truth and Reconciliation Commis- 
sion,” he said. “I think it would be 
incorrect far me to make any recom- 
mendations on their behalf. I’ll wait nnril 
such time as they are ready, having eval- 
uated all the information, to mafei* rec- 
ommendations,' * 


Community activists formed a crisis 
co mmi t te e hr 1988 after Mrs. 
Madikizela-Mandela’s house was 
burned, to demand that die bodyguard 
unit be disbanded. 1 Mrs. MadOaz ela- 
Mandela refused to do so, despite fears it 
bad been infiltrated by government spies 
and allegations by Soweto residents that 
club members had killed, kidnapped and 
assaulted people. 

Four members of the crisis committee 
testified Thursday, die fourth day of the 
weeldong hearing; They included Mr. 
Mufamadi; Sister Bernard Ncube, a 
member of Parliament for the ANC, and 
the Reverend Frank Chikane, a top aide 
to Deputy President Thabo Mbefci. 


40 People Go On Trial 
For Helping Algerians 
Plant Paris Bombs in ’95 


By Craig R. Whitney 

New York Times Son-ice 


PARIS — Forty people accused of 
helping Algerian Islamic militants plant 
bombs that killed eight people and 
wounded more than 170 in Paris in 1995 
went on trial this week. 

They are charged with conspiracy to 
support a terrorist campaign to get the 
French government to drop support far 
the Algerian government. They face 
maximum prison terms of 10 years if 
convicted. 

-The worst attack was the explosion of 
a homemade gas-canister bomb in an 
underground rapid transit train near 
Notre Dame in July 1995 that killed eight 
p^w?le. Subsequent attacks that year and 
another in 1996 led die authorities to send 
the Foreign Legion on armed patrols in 
subways and commuter train stations. 

The defendants in the trial that started 
hoe Monday were arrested two. years 
ago, alter French commandos and the 
police killed one of the suspected 
ringleaders of die bombings, Khaled 
Kelkal, near Lyon and arrested hundreds 


Brother of Diana 
Gives Up Press Gag 

The Associated Press 

CAPE TOWN — Earl Spencer, 
the brother of Diana, Princess of 
Wales, withdrew his court appli- 
cation Thursday to bar two Cape 
Town newspapers from publishing 
details of his divorce case. 

Lord Spencer said in a statement 
that he did not want a personal mat- 
ter turned into a constitutional issue, 
adding: “I would ask, though, that 
the South African media bear their 
responsibilities in mind, to minim- 
ize die inevitable impact on” his 
four children. 

Under South African law, local 
media are forbidden to report details 
of a divorce case. The Cape Times 
and Cape Argus newspapers inten- 
tionally broke the law this week to 
test it 

At an initial court hearing Wed- 
nesday, the newspapers agreed to 
stop publishing details of the case 
until the matter is resolved at an- 
other hearing. But Lord Spencer's 
decision Thursday to drop the case 
ended the matter. 


of Algerians or people of Algerian origin 
suspected of being part of an under- 
ground support network for the Armed 
Islamic Group in France. Three suspec- 
ted members of the network are being 
tried in absentia in the same proceeding. 

Prosecutors say they believe that the 
masterminds were two Algerian stu- 
dents — Boualem Bens aid, who will be ' 
tried separately, and Ali Touchent, 
known as Tarik, who has eluded arrest in 
France and Belgium. 

Three of the defendants in this trial — 
identified as Joseph Jaime, David Vallal 
and Alain Celle — are French citizens 
who converted to Islam and underwent 
military training in Afghanistan, pros- 
ecutors said. 

Opening statements and identification 
of the defendants had to be repeated in 
the Paris court Tuesday because one of 
the three judges was replaced after be- 
coming ilL 

The Armed Islamic Group has led a 
struggle against the military-backed 
government in Algeria that has cost at 
least 50,000 lives since 1992 after the 
military called off the second stage of an 
election that the Islamic Salvation Front 
appeared on the point of winning. 

The French authorities say the op- 
erations here were financed from Bri- 
tain, whore the Is lami c group was able to 
publish a newsletter. 

Among the 37 defendants in the 
courtroom is Safe Bonrada, an intel- 
lectual bora in France of Algerian par- 
ents, who is charged with recruiting sup- 

E u in Belgium and France to collect 
, buy weapons and run supplies fra: 
those who earned ont the attacks. 

Mr. Bourada, 27, told the court Wed- 
nesday that he had been in touch with 
Mr. Touchent in Belgium but only to 
raise money for the Islamic cause in 
Algeria. He also said that he had re- 
cruited Mr. Kelkal to the cause, but that 
.he was Unaware Mr. Touchent was or- 
ganizing bombings until after the first 
explosion in Paris on July 25,' 1995. 

“I couldn’t be sure from a juridical 
point of view that all the attacks were 
carried out by Ali Touchent’s group, but 
basically I dunk so,” he said. 

Another defendant, Ahmed Ben Hadj 
Djilali Maghroua, 30, told the court 
Monday that be had been a secret police 
agent in Algeria before coming to France 
— a “ninja.” 

“What does a ninja do?” asked the 
presiding judge, Jeanine DraL 

“Kill people,” he answered, accord- 
ing to the daily Le Figaro. 


SCENT: Aromas in a Cutthroat Market 


Continued from Page 1 

users. But as more and more women 
entered the workplace, a romantic or 
sexy fragrance was deemed not appro- 
priate for the office, and they wanted 
more choices. 

Perfume companies jumped on this 
notion and started the idea of “ward- 
robing,” an attempt to persuade women 
to wear a different scent for each oc- 
casion. Designer fragrances, for women 
who like a certain designer’s clothes but 
cannot necessarily afford them, added 
further competition. 

In the 1990s. specialty retailers like 
the Gap got on board, realizing that they 
could make up for flagging apparel 
profits with perfumes, scented candles 
and shampoos. 

All this has trained shoppers to look for 
something new on the shelf every minute. 
Many fragrances are very much “of the 
moment”: Opium reflected the rock- 
and-roll drug culture of the 1970s, Gior- 
gio of Beverly Hills evoked the over- 
indulgent 1980s and scents like Grass 
and assorted vanillas served the natural- 
products phase of the early 1990s. When 
a new era arrives, some consumers auto- 
matically seek a scent to reflect it 

“Now, we have this hyping part of die 
business,” said Ann Gottlieb, a fra- 
grance consultant who helped to create 
Calvin Klein fragrances. “We have cre- 
ated this ’What’s new?’ thing. I don't 
think it has anything to do with die 
ingredients inside. It is all about present- 
ation." 

Of course, the best marketing com- 
' parry can do tittle to sell to those who are 
allergic to perfume or find it an un- 
necessary bauble. 

But perhaps because of all die money 
spent on marketing, packaging and the 
actual scent — known in the industry as 
“the juice" — shoppers prove to be 
quite mercurial when it comes to choos- 
ing perfumes. 

To help them better understand con- 
sumers’ desires, perfume makers have 
started doing what sellers of potato chips 


and sneakers have been doing for years 
— traditional market research. Spending 
for such research has risen to about 10 
percent, from about 5 percent, of the 
overall budget in the last few years, 
experts said. 

Coty US Inc., which dominates the 
mass-market brands, uses firms like 
Yankelovich Partners, a market re- 
searcher, to develop its scents. 

Consider Vanilla Fields, which Coty 
brought our in 2993. The company 
learned from focus groups that women 
were looking for something to comfort 
them. With the country emerging from 
recession, “there was a consumer back- 
lash,” said Mazy Manning, the senior 
vice president for market development 
at Coty. “This fragrance reminded them 
of their childhood, of cookies. There was 
also a tremendous concern about the 
environment Vanilla Fields answered 
their need for simplicity. ” 

Happy, the latest scent from Clinique 
Laboratories, a division of Estee Lauder, 

search Corp. Intentional that’nearly 95 
percent of American women value hap- 
piness over wealth or beauty. For what 
it’s worth. Happy smells tike citrus. 

And then there is Chanel No. 5. 

Introduced in 1921, it immediately 
shook up the world of good smells. “In 
the 1920s, fragrances feat were popular 
were very floral,” explained Annette 
Green, president of fee Fragrance Foun- 
dation, the industry trade group. “When 
Chanel came along, it was very avant- 
garde. It incorporated natural and syn- 
thetic ingredients, which created a whole 
new way to smelL It was very modern 
and very provocative.” 

Chanel No. 5 has maintained a steady 
rise in sales largely through expensive 
advertising campaigns feat change every 
five years or so. Chanel does not disclose 
sales figures, but No. 5 is by far the 
company’s top-selling brand, with whole- 
sale volume in the United Stales esti- 
mated at more than $50 million a year. 

Chanel works so hard because its ex- 
ecutives know that once a perfume has 



Continued from Page 1 

Britain, about the conditions for earing, 
the confrontation. Going even farther than 
fee Clinton administration’s public po- 
sition, Britain’s deputy foreign minister, 
Derek Patched, said feat Mr. Saddam’s 

^^^^l^N^mctions to an 
However, the West was right, be said 
Wednesday in a speech in Washington, 
to “hold ont fee prospect that once fee 
government of Iraq has complied wife 
fee Security Connell's demands, sanc- 
tions can be lifted.” 

The Clinton administration wants all 
fee UN conditions to be met before any 
easing of the sanctions, and it appeared to 
be ready to make the Security Council 
put off the expanded oil sales. 

Pressing its- case feat the Security 
Council ease all fee pressures on Iraq, 
Baghdad reportedly said Thursday that it 
was not ready to extend the oti-for-food 
facility without new arrangements for 
implementing icon Iraqi terms. 

In a s imilar vein, fee Iraqi Par liame nt 
adopted a resolution Thursday “recom- 
mending” that the United Nations wind 


up its arms inspections w ifem six 
months and then lift sanctions. The Par- 
liament blamed fee United States for 
misleading fee world about Iraq's mil- 
itary programs and prolonging the suf- 
fering of Iraqi children. 

The ambiguous offer to accept in- 
ternational inspections of Mr. Saddam's 
palaces illustrated the tactics used by 
Baghdad in attempting to improve — or 
at least blur — international impressions 
of the country. 

The surprise invitation — for dip- 
lomats ana experts “to spend a day, a 
week or a month” to see feat there was 
no mischief in the buildings — came in a 
broadcast from Baghdad late Wednes- 
day. “We have decided to send invi- 
tations to two delegates from each coun- 
ited on UNSCOM, along 



Security Council,” the broadcast said. 

In fee United States, fee news landed 
first as a bulletin from news agencies, 
including ■ one from Agence France- 
Presse, France’s government-owned 
news service, that read, “Iraq has de- 
cided to allow UN arms inspectors entry 



WE’RE THANKFUL TO STILL BE IN SPACE — The crew of the space shuttle Columbia sending 
Thanksgiving Day greetings to Earth. They were conserving fuel to stay in space for a second attempt to 
deploy a solar observatory that was rescued after a botched release last week. Behind Commander Kevin 
Kregd, from left; are Steven Lindsey, Takao Doi, Leonid Kadenyuk, Winston Scott and Kalpana Chawla. 


faded from die collective consumer con- 
sciousness, it is almost impossible to 
revive. 

A prestige fragrance’s decline can be 
tracked by its distribution — a scent 
once found only in high-end stores will 
surface in J.C. Penney or even drug 
stores. Then it may disappear. 

But, like John Travolta, some per- 
fumes can get a new lease on life. 

TTiis is fee specialty of Renaissance 
Cosmetics Inc., a company in Green- 
wich, Connecticut, feat bays old fra-' 


grances and dusts them off. Among its 
recent acquisitions are Tabn, Chantilly 
and Love's Baby Soft, an “entry’’ scent 
for young giris. 

ChantiUy was acquired from the 
French house Houbigcuit- in 1994, and 
fee brand was in sad shape, said Norbert 
Becker, chief executive of Renaissance. 
Although it had annual sales of $100 
million in fee 1960s, they had sunk to a 
mere $10 million, he said. It was hawked 
in discount perfume outlets, its essential 
oils had been diluted with cheaper 


Jucts and fee company had spent 
little on advertising. 

Renaissance revived Chantilly by go- 
ing back to the roots of the fragrance, 
which smells vaguely like a grandmoth- 
er’s dresser, and trying to restore its 
romantic image 

“We created new advertising,’’ Mr. 
Becker explained. “For the packaging, 
we used only fee best inks on the em- 
blem. and we.changed the formula back 
to the original fragrance wife more es- 
sential oils.” 


PASTERNAK: 

Betrayed by ‘Lara*? 

Continued from Page Z 

Most Russians are all too aware of fee 
compromises and betrayals millions of 
people were forced to commit to protect 
themselves and their families from the 
KGB. 

Few have a dear conscience. Many, 
including Pasternak's elder son, who de- 
scribed fee article as “insulting and dis- 
gusting," were appalled that a newspaper 
had sensationalized a desperate woman’s 
last-ditch effort to save herself. 

But a few were delighted by its rev- 
elations. 

“It is the first concrete evidence that 
she cooperated wife fee KGB,” said 
Natalya Volkova, 70, director of the 
state Archives of Literature and Art. The 
archive is now in a bitter dispute with 
Mrs. Ivinskaya’s heirs over custody of a 
batch of Pasternak papers. “But frankly 
speaking,” she added wife a sly smile, 
‘ f we , J ” 


T«r*T ‘^TmtTTrnlnr 

A man removing his child from the path of masked volunteers marching in Baghdad on Thursday. 

IRAQ: Invitation to the Palaces Is Not for UN Arms Inspectors 


into the palaces of Saddam Hussein,lraqi 
television reported on Wednesday." 

• Some initial reactions were sikepticaL. 
Britain’s UN envoys Sir John Wes ton, 
said: “We are not interested in political 
tourism: the important thing is feat UN- 
SCOM should be able to go where it 
wants.” 

His doubts were confirmed by the 
Iraqi foreign minister, Mohammed Said 
Sahhaf, who was asked Thursday if the 
Iraqi invitation covered die UN inspect- 
ors. “Not at aU,” he replied. 

In other words, Baghdad has not 
changed its view feat upward of 70 such 
presidential rites, considered sensitive 
for national security, are off limits to the 
UN armaments professionals. 

But fee Iraqi offer had caught enough 
people off guard to leave a trace, in- 
cluding an unnamed State Department 
official who was widely quoted saying: 
‘‘This seems to be a significant breaefem 
the Iraqi tine we’ve seen to date.” 

Even though fee official qualified his 
optimism, the positive tone seemed to fit 
Baghdad's apparent hopes of spreading 
fee impression feat both rides are look- 
ing foe compromises short of hostilities. 


Mrs. Volkova is part of a small clique 
of scholars and intellectuals who readily 
believe Mrs. Ivinskaya cooperated with 
intelligence services — very few in her 
position did not 

But mostly they feel she vastly over- 
rated her own importance both as amuse 
and as a lover. 

“His second wife, Zinaida, was Pas- 
ternak’s real guardian angel.” Mrs. 
Volkova said. r ‘But fee mistress is al- 
ways more interesting than fee wife.” 

Pasternak had a complicated personal 
life, but there is little question that he at 
one time loved -Mrs. Ivinskaya, wrote 
some of his greatest poems about her and 
remained loyal to her until his death. 

Americans mostly know the love sto- 
ry through fee mdancholy strains of 


'Lara’s theme” from the soundtrack to 
fee 1965 movie version of "Doctor 
Zhivago” feat starred Julie Christie as 
Lara. 

Pasternak met fee woman who would 
serve as his model for Lara in 1946, 
when he was married, 56 and a famous 
poet, and she was a 34-year-old widow 
working at the literary magazine Novy 
Mir. He began writing “Doctor Zhiv- 
ago” in 1948. The book was banned by 
fee Soviet Union, which considered it a 
slander of the Russian Revolution. In 
October 1949, Mrs. Ivinskaya was ar- 
rested and sentenced to four years of 
hard labor because of her association 
wife Pasternak. 

While at fee Lubyanka prison in Mos- 
cow, she was under fee routine pressures 
of solitary confinement, exposure to 
bright lights and forced deprivation of 
sleep. 

She also said, in her memoir, “A 
Captive of Out Time,” feat while she 
was in prison, she miscarried Pas- 
ternak’s baby. 

While other poets fell silent to protect 
those they loved, Pasternak was unwill- 
ing to abandon “Dr. Zhivago” while she 
was imprisoned. 

“The relationship ended a few 
mouths before she was arrested,” said 
Yevgeni Pasternak, who wrote a biog- 
raphy of his father. “By then, they were 
not close, but she was in prison, and he 
helped her children.” 

He said that, as a former convict, she 
was an obvious target for the KGB. but 
feat his father, who knew of her weekly 
meetings with intelligence officials, al- 
ways believed she defended him. 

But Yevgeni Pasternak said he did not 
wish to judge her by a letter written when 
she was in the gulag. “When she was . 
arrested a second time, what else could 
she do but write to Khrushchev?' ’ 

In 1953, when Mrs. Ivinskaya was 
■released from prison fee first time, she 
moved into ‘a small house near Pas- 
ternak’s dacha in the writers ’ colony 
Peredelkino, and .became his secretary 
and literary agent He spent his days at 
her house, his nights wife his wife and 
family. 

Shortly after he died, she was arrested 
and convicted of smuggling foreign cur- 
rency — the royalties she collected for 
Pasternak from the West She served 
four years and was officially rehabili- 
tated in 1988, the year “Doctor Zhiv- 
ago” was finally published in Russia. 
She died in 1995 at fee age of 83. 

In her memoir, she wrote that the 
authorities forced her to serve as an 
intermediary between them and Pas- 
ternak, and described how she tried to 
protect him from persecution. 

She did not divulge the kind of in- 
forming or contacts wife intelligence 
officers fear she described in her letter to 
Mr; Khrushchev. 

“She was in a concentration camp — 
you can imagine what kind of situation 
she was in," said her daughter, Irina 
Yemelyanova. Mrs. Yemelyanova, who 
was arrested as her mother's accomplice 
m I960, served two years in prison be- 
fore emigrating to the West. She said she 
was bonified by the article. 

“The letter is typical of millions of 
letters written by people who were in the 
camps,” she said. “My mother spent 
eight years in the gulag — to suggest that 
she was a KGB agent is humiliating.” 



As leaders of fee governing ANC, 
they repre se nted the mainstream party 
that spur from Mrs. Madikizela-Man- 
dela in the late 1980s. 

Mrs. Madikizela-Mandela. 6.'. looked 
tense and worn as she listened to the 
testimony. 

Mr. Chikane said, “We were very 
concerned tint the football club was not 
good news for the Mandela name m 
general.” 

Mr. Ncube and Mr. Mufamadi con- 
firmed that the crisis committee had 
received reports feat Mzs. Madikizela- 
Mandela’s bodyguards had raped girls 
from a Soweto high school. The sexual 
abuse caused students from the school to 
set fire, to Mrs. Madikizela-Mandela’s 
house, where the bodyguards stayed, 
Mr. Ncube said. (AP. Outers) 


. I 


1 J 


. V 


it 


4 











s- 


SPONSORED |'\( ,r- : 


1NIXRNATI0NAL HERALD TBIBUNE, FRIDAY, NOVEMBER 28, 1997 


PAGE 9. 


SPONSOR I -I) PAGE 


*1 


HOLIDAYS IN NEW YORK 


Holiday Offerings 
From the Big Apple 

New Yorkers and \isitors alike have much to cel- 
ebrate this season. 


- M J 


*''i * 

><j« 


i- 




•^1 


« 


F rom movies like “Mir- 
acle on 34th Street" to 
the Rockefeller Christ- 
mas Tree, from the Radio 
City Music Hall Christmas 
Show to the ‘"world’s laigest 
menorah” at the southeast 
comer of Central Park, New 
York has become one of the 
places indelibly associated 
with the holiday season. 

Even the most seasoned 
New Yorker finds new won- 
ders each year, all the more 
so, then, for the visitor. New 
York probably offers more 
diverse shopping than any 
other city ’in the world; the 
choice ranges from funky 
ateliers along Christopher 
and Eighth streets in Green- 
wich Village to the elegant 
famous-name boutiques 
along Madison Avenue. 

The dramatic department- 
store windows vary from an- 
imated displays of traditional 
Christmases at Lord & 
Taylor to the outre nowness 
of windows at Barneys. An- 


gels in Rockefeller Center 
look out over skaters in the 
world’s most famous rink. A 
candlelight procession to the 
grave of the Rev. Gemcnt 
. Gaik Moore, “inventor” of 
Santa Claus, ends with a re- 
citation of his poem “A Visit 
from St Nick (’Twas the 
Night Before Christmas)” in 
Upper Manhattan. Way 
downtown, the glass-en- 
closed Winter Garden in Bat- 
tery Park City glitters with 
sparkling decorations. 

if you're visiting New 
York, your first step should 
be one of the Convention and 
Visitor Bureau locations, al- 
though you can start your 
research before you arrive by 
accessing the city-run service - 
at ht^-/Avwwj3yc visit corn 
on the Web. Once you arrive, 
check out the latest “Time 
Out” and “New - York 
Magazine,” available at any 
newsstand, for the most up- 
to-date information about . 
what's happening that week. 



The Party of the Century i 

’ * 

Times Square will be the center of the action, but not the only place to party. J 


Vm magic of fkxfefefer Center is best experienced h person. The Christmas tree is a pennnU favorite. 


What’s Hot On 
And Off Broadway 


W here are you going to be for the 
millennium? It's appropriate that 
New York, the home of Times 
Square — the unofficial center ofNew Year’s 
Eve reveby worldwide — already has plenty 
in store for the big night To begin with, a 24- 
hour broadcast of cultures from the world’s 
24 time zones will begin at 7 Aid. New York 
time and be shown on giant video screens at 
the square. 

The 22-acre glass-enclosed Javits Center, 
New York’s principal convention center, will 
become a giant cocktail party: On offer will 
gbe a gourmet four-course meal with en- 
w tertainment and fireworks over the Hudson 
| River. 

I A more intimate gathering will take place 
§ at the glamorous Rainbow Room high above 
Rockefeller Center, which already has more 


than 200 reservations. Windows on the* 
World, at tec top of tiie World Dade Center*} 
is also taking reservations — and already ha5* 
a waiting list Hotels are also planning ahead. 
Most hotels are already taking reservations'* 
for that weekend, or plan to as of autumn 4 
1998. 

For the most up-to-date information on the 
city's plans, join the NYC Millennium Club, 
For $20. you'll receive a calendar and list of. 
organizations accepting reservations and be. 
put on mailing lists. Send a check to the 
NCVN (810 Seventh Ave_, New York, NY 1 
10019). 

Later in the year 2000, from July 3 to 9, 
Op Sail 2000 will feature the largest fleet in 
history — 30.000 vessels. President Clinton - 
will attend, as will representatives from more * 
than SO countries. 


Mark Your Calendar 

• Through Jan. 4, 1998: "Monet and the Mediter- 

ranean" at the Brooklyn Museum of Art Tel.: (718) 638- 
5000. . 

• Through Jan. 4, 1998: “A Christmas Carol,” with Hal 
Linden and Roddy McDowell alternating in the title role, at 
Madison Square Garden. Tel.: (212) 465-6744. 

• Through Jan. 4, 1998: Ratio City Christmas Spec- 
tacular. With live camels, Santa Claus, the Nativity and the 
high-kicking Rockettes. Tel.: (212) 247-4777. 

• Through April 26, 1998: The most comprehensive 
exhibit of diamonds to date, at the American Museum of 
Natural History. Tel .: (212) 769-51D0. 

• Nov. 30: Winter Festival. With St Nick, children's 
workshops, craft demonstrations. Lefferts Homestead Chil- 
dren’s Museum, Brooklyn. TeL: (718) 9656505. 

• Dec. 2: Lighting of Rockefeller Center Christmas Tree. 
Tel.: (212) 632-3975. 

• Dec. 2: Carnegie Hall Pop Christmas Concert Tel.: 
(212)247-7800. 

• Dec. 49: Felix Mendelssohn's “Sfjah" oratorio, with 
Bryn Terfel. Avery Fisher Hall, Lincoln Center. Tel.: (212) 
8756656. 

• Dec. 5; Now York Pope HoJ^JayAwcert wftb tyje Boys’- 

Choir of Hdrierri. Tel: (212) 2473 b 00. s " ™ 1 

• Dec. 7: Miracle on Madison Avenue Children's Festival, 
between 57th and 72nd Streets. 

• Dec. 10-14: New York Armory Christmas Antiques 
Show. 7th Regiment Armory. Tel.: (212) 472-1180. 

• Dec. 14: Vienna Boys’ Choir, Carnegie Hall. Tel.: (212) 
247-7800. 

New Year’s Ev# events 

• Midnight Run, Tavem’on the Green, Central Park. Tel.: 
(212)8604455. 

• First Night New York: alcohoWree, famUyoriented 
events throughout the city. Tel.: (212) 922-9393. 

e. Annual Ball Drop, Times Square. Tel.: (212) 354 
0003. • 


• Bring in ’da Noise, 
Bring in ’da Fnnk.The roots 
oftap dancing and the Amer- 
ican Black experience are ex- 
uberantly on display. 

• Chicago. Broadway’s 
most sophisticated hit mu- 
sical is a revival of Bob 
Fosse’s takeoff of a- 1920s 
play about gals who kill for 
love. Tickets are very hard to 
get-during the holidays. - 

• The Diary of Anne 
Frank, in previews until 
Dec. 4, tins revival features 
an aft-star cast headed by 
Linda Lavin, George Hearn 
and Natalie Portman in the 
title role. . . 

• The Life. A musical 
about Times Square pimps 
and prostitutes in the late 
1970s sounds depressing, but 
a game cast, headed by Tony 
winners Lillias White and 
Chuck Cooper, and Cy Cole- 
man’s jazzy score give it 
class. 

The Lion King. You can 


dream about getting tickets to 
this instant mega-hit based 
on tiie Disney cartoon, but 
during the holidays, unless 
you’re connected (or willing 
to pay a scalper), it may re- 
main a dream. Pray for same- 
day cancellations. 

• The Phantom of the 
Opera. No longer the biggest 
hit on Broadway, but big 
enough- Tickets are avail- 
able, but check tee seating 
chart to avoid partial views. 

• Rent list year’s hit 
based on “La Boheme,” 
about East Village artists 
coping with drugs and AIDS. 
If you're ambitious, there are 
same-day tickets for only $20 
— but you'll have to wait for 
a long time. 

• Side Show. The public’s 
still divided — some rite the 
“freak factor” — but others 
love this new musical based 
on real-life Siamese twins. 

• Stomp. Still selling out 
its off-Broadway theater. No 



From Creches to Cathedrals.- 

t 

r 

A necessarily partial guide to the season s sights. Choose your favorites. 


Santo Claus: Who could resist 
stitoig on this man's lap? 

words but plenty of percus- 
sion, provided by utensils 
and everyday objects. 

• Titanic. It took a while, 
but tee public has embraced 
this spectacle, which swept 
last year’s Tony Awards. 

"• Tony & Tina’s Wed- 
ding. The audience not only 
participates in this movable 
performance art, but also gets 
to eat dinner. . 


A bigail Adams Smith 
Museum. Built in 
1799, this historic 
residence twinkles with 
candles in every window and 
room. 

Richmondtown. These 
31 homes, built in tire 1600s 
and subsequently restored, 
were tee center of Staten Is- 
land during the Dutch oc- 
cupation ofNew York. From 
Richmond Hill Road, tee res- 
toration looks like a mini- 
ature village around a celes- 
tial Christmas tree. On New 
Year's Eve, you can dance in 
period costumes (or with 
those wearing teem) and sit 
down to a Colonial meal. 
Call (212) 351-1611 for re- 
servations. 

Christmas Creche. Met- 
ropolitan Museum of Art 
Neapolitan figures of angels 
hover in the giant tree above 
shepherds, the magi and the 
Holy Family. 

Orchard Street The 
Lower East Side's fabled 


“street of bargains” still has 
plenty of name brands at low 
prices, but hip newcomers 
are transforming the area into 
a new Soho. 

Cathedral of St John the 
Divine. The nave of this 
Gothic-style cathedral is dec- 
orated for tee holidays, while 
a giant wreath greets you out- 
si de. 

Ice skating. Rockefeller 
Center is the most famous, 
but tire Wollman Rink, at the 
southeast comer of Central 
Park, is cheaper and tee mu- 


sic mare up-to-date. At the 
Harlem Mecrat the north end 
of the park, the music is hip- 
hop. The rink at Chelsea, 
Piers is indoors — and ; 
huge. 

Tavern on the Green.. 
The trees are all outlined in 
bright white lights, illumin- . 
ating this restaurant Central * 
Park at West 67th Street ; 

South Street Seaport * 
The famous festival market- 
place set alongside the East 
River sparkles with thou- 
sands of bright lights. ; 


. . Jl&QLfiPASSIN 

• NjswYomc'* 
was produced in 
its entirety by the 
Advertising Department 

International 
Herald Tribune. 

Wkubu 
Steve Weinstein 
Is based 
in Hew Mart 
Program Director: 
BiUMahder. 


,SMm4&.WOU£NSKY' . 

7» art** t**> ..... 

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PAGE 10 


FRIDAY, NOVEMBER 28, 1997 


EDITORIALS/OPINION 


•Herat i> 


INTERNATIONAL 



Pl'BUSHED WITH T1IE NEW YORK TIMES AND THE WASHINGTON FONT 


SribuUC Dominoes: The Asian Infection Enters Russia 

THE WASHINGTON FONT 


l;ii“ 


it** 


III 


„ - l I'" 




Ranting in Croatia 


M OSCOW — Most people walk- 
ing the streets here don’t realize 


Croatia has just become the first 
country in the former East bloc to crim- 
inalize the work of George Soros’s 
Open Society Institute. Last week a 
Zagreb court convicted the Croatian in- 
stitute's director and accountant of falsi- 
fying official records, a charge that the 
institute claims is purely political. There 
is good reason to doubt the govern- 
ment’s case. The Croatian government 
is systematically attacking all the coun- 
try’s major independent institutions in a 
crude campaign of intimidation. 

■' President Franjo Tudjman wants his 
country to be respected and invited into 
groups such as the European Union. 
But he is not ^ willing to put up wife those 
pesky European-style notions of rights, 
such as free elections, respect for ethnic 
minorities and tolerance of dissent 
When Washington has blocked in- 
ternational loans to Croatia, Mr. Tud- 
jman has grudgingly responded. He 
recently sent 10 of Croatia's remaining 
-14 publicly indicted war c riminals to 
The Hague for triaL But international 
pressure has barely kept a struggling 
civil society alive. Television news, for 
instance, is TV Tudjman, stuffed with 
his activities and speeches. New laws 
setting criminal penalties for critici- 
zing top officials, or spreading what- 


ever the government defines as state 
secrets and false info rmati on, are being 
turned against all media that are not 
slavishly pro-Tudjman. 

The principal victim is Feral 
Tribune, Croatia's most untamed pub- 
lication. The editor and a reporter are 
being tried on criminal libel charges for 
criticizing Mr. Tudjman *s bizarre idea 
of reburying remains of Nazi collab- 
orators with concentration camp vic- 
tims. Feral also faces dozens of civil 
suits, carrying millions of dollars in 
fines. And the country's leading human 
rights activist, Ivan Zvonimir Cicak, 
head of the Croatian Helsinki Com- 
mittee, is being prosecuted far alleged 
false statements about Mr. Tudjman. 

Mr. Tudjman often rants about Croa- 
tia’s independent sector. A recent 
speech to his party's youth wing was 
typical “Our enemies, who come from 
the stagnant waters of negative heritage 
and from abroad, still exist,” he said. 
“Various fools, crackpots, dilettantes, 
ignoramuses and simply those who 
sold their souls want to denigrate the 
magnificent revival of Croatian free- 
dom and independence, and fee glor- 
ious and thunderous Croatian victo- 
ries.” No more need be said. 

—THE NEW YORK TIMES. 


lYXing the streets here don’t realize 
that their country has been infected by 
the Asian coniagion. But if the Asian 
crisis slams into Moscow with the vir- 
ulence that some brokers here fear, the 
ruble could be rubble. 

It is so ironic. The domino theory 
emerged in the 1960s with the fear that 
the states of Southeast Asia would fall 
one by one to Communist rule, in a 
chain reaction set off by Moscow. Now 
it is all backward. 

Because of the economic crises that 
began among fee super capitalists of 
Asia, Russia is being hit by the falling 
dominoes of Thailand, South Korea 
and Japan. 

Renaissance Capital, one of Russia's 
premier investment banks, declared in 
its latest report: “While not a source of 
the recent waves of emerging market 
anxiety, Russia could become a victim. 
... The current calm is deceptive.” 

To understand fee dangers posed to 
Russia’s economy by fee events in 
Thailand, you need to keep in mind that 
a lot of money that has poured into 
emerging markets lately is dumb 
money. That is, investors were really 
just reaching for the highest yields and 


By Thomas L. Friedman 


had not properly evaluated the risks 
involved, or in many cases did not even 
know what stocks or bonds they owned 
in these distant markets. 

What Thailand did was crystallize an 
understanding of the real risks in- 
volved. Many investors reacted by call- 
ing their brokers and screaming, “Get 
me out of all emerging markets,” while 
others demanded much higher risk 
premiums to stay. Russia is getting hit 
with both reactions. 

Russia had actually been getting its 
economic house in order. Taking IMF 
medicine, it got its inflati on down from 
hyper levels to 1 percent a month, and 
fee interest rate on government Treas- 


money from foreigners, who hold 
about one-third of Russia’s domestic 
debt. As soon as Thailand crashed, the 
government here raised the interest rale 
on T-bills from 14 to 27 percent, in an 
effort to bold foreign investors. Such 
high rates, though, immediately 
dampened Russia’s growth prospects. 

The whole 1998 budget was pre- 
dicated on interest rates of 14 percent 
anti lower. As interest rates soared, the 


were big holders of Russian stocks and 
bonds and now need to sell. ) 

If the Central Bank does not move 
rates up further, fee ruble is going 
take a hit, as foreigners sell oil their 
Russian holdings for dollars. Russia s 
government has already spent about 


billion propping up the ruble w 
snt weeks. And if the ruble takes a 


Russian stock market plunged. This in 
mm weakened Russians banks, which 


my bills down from 100 percent to fee 
12 percent range; and fee ruble was 


12 percent range; and 
holding steady at 5.900 


holding steady at 5,900 to the dollar. 

Russians were beginning to save 
again in rubles, and finally mare money 
was flowing in than. out. Russia was 
expected to grow at about 1 percent in 
1998 and between 2 and 2.5 in 1999. 

To keep this recovery going, Russia, 
because it still cannot get its citizens to 
pay many taxes, had to raise substantial 


were making most of their money by 
buying stocks and T-bills with bor- 
rowed money. 

Some of these banks are now in real 
trouble. But fee banks own almost all 
the newspapers, so accurate reporting 
on this financial chain reaction has 

b een minimal 

The word in the market here is that 
the only way fee Russian central bank 
can keep foreign investors is by raising 
the T-bill interest rate to around 35 
percent. The central bank has been 
slow to do feat, not only because it 
would kill growth but also because it 


recent weeks. Ana it ine runic « 
hit, it will reignite inflation. . 

All of this is bad news for Rons 
Yeltsin. He was betting that Russia 
would be well on the road to recovery 
in time for the 1999 Duma elections. 
This would enable him to finally get rid 
of the Communist Party majority that 
still dominates his legislature and tries 
to block everything he does. 

He could still be saved if the emerg- 
ing-market turmoil ends quickly and 
investors stampede back to Russia. But 
if things get worse, not better, the Com- 
munists and nationalists * ill be 
strengthened. 

Who would have thought it — feat 
after all, the capitalist dominoes fall, 
from Thailand to South Korea to Japan 
to Moscow, the one left standing could 


can’t believe Russia would be so be fee Russian Communist Party. Len- 
affected by events in Southeast Asia, in must be laughing in his tomb- 


(Guess what. South Korean investors 


The New York Tunes 


To Deal With Iraq, America Needs the United Nations 


Long Haul in Haiti 


P ARIS — Washington is By Flora Lewis 

right to warn that the crisis 

with Iraq is not over, although his successor the Australian the victo 
UN inspectors including Araer- Richard Butler. They continue, quished. 
icons are back on fee job. It is a with a firm Security Council Georg 
nerve-wracking job. ’ mandate, and they show no signs avoid the 

Given fee record of decep- of weakening determination. to Baghd 

cion and fee relative ease of To rebut charges fear there alm ost i 


Among all the exercises in national 
revival to which die United States has 
committed itself in post-Cold War 
times, Haiti is one of fee hardest cases. 
'In fee three years since America 
dropped in 22,000 troops to restore coup 
victim Jean-Benrand Aristide, Haitians 
have struggled to build a working polit- 
ical authority. But fee effort is hung up 
'on raw cravings for power manifested 
.first by the still powerful Mr. Aristide, 
who is no longer president, and by a host 
of others. Their rivalries have denied 
. Haiti a government and a reform policy 
since an electoral dispute last April. 
Crucial foreign aid has been blocked, 
and private investment reduced to a 
trickle. The crime is bad and shades into 
political violence. 

In some U.S. quarters, there is a 
readiness to marie Haiti down as lost and 
to consign it indefinitely to fee inter- 
national dole. But feat would be in- 
humane and patronizing, and could spur 
an unwanted exodus of boat people. The 
better way is to accept regional lead- 
..ership and commit to the long haul, but 
by cooperating with others and without 
raising unwarranted expectations. 

At any given point, tactical de- 
cisions — such as the current Amer- 
ican choice to mend rather than replace 
fee flawed April elections — can be 
faulted. The important consideration 
•remains to create conditions for 


middle class, without which hope of 
social progress is a dream. 

The United States is right to malrp a 
measure of democratic self-govern- 
ment the first priority. As important are 
law and order. Here the key instrument 
is the new 5,000-person national ci- 
vilian police being developed wife 
United Nations help. A judiciary must 
also be put in place. 

With and after that come social and 
economic projects; $100 million-plus 
in development aid would be unlocked 
if Haitians finally installed a govern- 
ment and a policy of reform. Under 
separate American sponsorship. 500 
American soldiers are building schools 
and providing medical training. 

The results will come only slowly. 
Enough order has already been es- 
tablished, however, or so everyone 
hopes, to make it possible to dispense 
now with 1,200 international troops in 
a UN mission whose 300 civilian po- 
lice mentors are due to be renewed mis 
week as fee troops march out A new 
UN mandate for those mentors is 
pending to take Haiti through pres- 
idential elections next year. With work 
and luck, fee country will then be 
handed off to a more conventional de- 


mocracy and development path. 

All this exertion is meant as ev- 
idence to donor country skeptics that 
Haiti will reward patient helping. But 
Haiti's leaders must make it happen. 

— THE WASHINGTON POST. 


[Haitian self-help, perhaps first of all by 
[drawing back me emigration-able 


Trying to Clean the Net 


: Everyone knew that fee fight over 
[freedom of speech on the Internet 


■would have a second round, despite the 
•.decisive rejection by the U.S. Supreme 
[Court of last year’s Communications 


•[Decency AcL That round is now shap- 
•ing up. So far it is mostly about fee use 
{of “filters” — software that, when used 
jby computer users or producers of on- 
jline material, screens out words or car- 
•egaries of material deemed offensive. 

| Filtering the Net at fee recipient's 
(end — for instance, wife one of fee 15 
•different commercial filters now on fee 
[market — is not censorship. Indeed, 
[opponents of last year's legislation ra- 
llied heavily on the existence of such 
•filtering technologies os evidence of a 
■“less restrictive alternative” for pro- 
jecting children, one that made un- 


that could be built automatically into fee 
major browsers. Other groups, spooked 
by this and by fee ease wife which 
legislation could be passed to convert it 
into a full-fledged government blocking 
scheme, oppose all filters. 

The American Civil Liberties Union 
says filters are not censorship bat cre- 
ate a “cloud of smoke” that would end 
up hiding minority-view sites or those 
feat do not rate themselves according 
to fee single system agreed to by the big 
corporate playeis. (The leading system 
under consideration, a complex and 
rigid scheme called RSACt invites 
such fears, and Senator Patty Murray 


tion and fee relative ease of 
hiding weapons potential, par- 
ticularly in deadly biological 
toxins, it fa hard to see how it 
can be confidently completed 
until Baghdad authorities are 
prepared to cooperate in ways 
Saddam Hussein can never be 
expected ro. 

But he remains in full con- 
trol. Even though he miscal- 
culated in thinking that he could 
force fee departure of Amer- 
icans and removal of sanctions 
by smashing fee Gulf War co- 
alition, he has reason to think 
that time fa on his side. The 
United States fa not going to 
keep its immensely expensive 
buildup of shi ps and planes in 
the area indefinitely. 

Using it to blast Iraq would 
not find and destroy fee sus- 
pected hidden poisons. It would 
provoke a huge international 
outrage and confront the United 
States with a much bigger crisis, 
probably on fee home front as 
well when the futility became 
obvious. 

President Bill Clinton can be 
grateful to the United Nations 
for its support, and to Russia for 
helping mm out of a terrible 
box. But it won’t last unless 
Washington shows a better un- 
derstanding of the complex pol- 
itics in which it is engaged. 

This is a good example, for 
American UN -bashers and 
members of Congress who 
cavalierly broke the agreement 
to pay American debts to the 
organization, of why fee United 
Nations remains essential, even 
to a lone superpower. 

Without invading and oc- 
cupying Iraq, there fa no way fee 
United States could have done 
fee already substantial job 
achieved by fee dedicated, per- 
sistent UN monitoring teams un- 
der the Swede Rolf Ekeus and 


has been some land of‘a deal 
wife Saddam to lift sanctions 
without absolutely full compli- 
ance wife their requirements, 
Washington has pointed out that 
it can always veto any com- 
promising initiative that Mos- 
cow may have promised to 
Baghdad. But that would mean 
more crisis for fee United States. 
and a gain for Saddam in his 
efforts ro show that he is a victim 
of American persecution. 

The trouble goes back to fee 
way fee Gulf War ended. It fa 
fee first time in military history 
feax a cease-fire applied only to 


fee victors and not to fee van- 
quished. 

George Bush was right to 
avoid fee disaster of messing on 
to Baghdad; it would have been 
almost impossible to get oul 
But there were many rater mea- 
sures which could have made 


to pin responsibility on this 
Clinton administration failure.) 
Mr. Scawcroft said the 


Mr. Scowcroft said the 
United States tried to topple 
Saddam after fee war, but only 
by provoking a palace' coup feat 
would not have meant a real 
change of regime. He did not say 
why there was that limitation. 

It was probably at fee urging 


sure that Saddam did not of Saudi Arabia, allergic to the 
emerge wife fee key forces on ' overthrow of Arab regimes, un- 


which be relies intact. 

Mr. Bush has never explained 
his decision. Former National 
Security Adviser Brent Scow- 
croft gave some hints in an in- 
terview on a first-rate ABC spe- 
cial about the total CIA fiasco 
and devastating betrayal of the 
Iraqi opposition in Kurdish- 
populated northern Iraq last 
year. (It fa amazing that Con- 
gress, so keen on investigations, 
has never unraveled and sought 


derestimating Iraqi nationalism 
in its fear of seeing an Arab 
country split, and worried about 
fee rise of Shiites in southern 
Iraq. Its richest oil province is 
mostly Shiite. The Saudis had 
much influence on Mr. Bush. 

He did win Arab backing for 
fee war, but few Americans real- 
ized how much Arab govern- 
ments’ decisions went against 
popular feeling in those coun- 
tries. Now sympathy for Iraq fa 


much increased by the true suf- 
fering of its people, and resent- 
ment against the United Slates fa 
exacerbated by the loss of hope 
in an Israeli-Ptilestinian peace. 

■ TTiere fa no way America can 
separate its relations wife Arab 
states from the peace project 
(not peace process). The goal 
has to be clear and reachable. 
Stalemate and disillusion on this 
score also influence Europeans. 

The Iraqi problem will not 
stay contained by American 
force alone. It will continue to 
take convincingly solid inter- 
national cohesion, organized 
through the United Nations, and 


the patient, professional work 
of UN monitors. 


of UN monitors. 

. There is no easy wav out of 
this excruciating danger. With- 
out the United Nations, there is 
so way at all. 

Flora Lewis 


What Sort of Friend Is a Resentful France? 


W ASHINGTON — Wife 
the U.S.-Iraq crisis in 


VV the U.S.-Iraq crisis in 
temporary remission, but wife 


By Richard Cohen 


China and Russia are one 


two aircraft . carriers and so . .thing. China has never been a 


many' planes poised to do 
something, may I, in fee manner 
of Jonathan Swift make a 
modest proposal: Why not 
bomb France? 

Swift, fee 18th century 
Anglo-Irish author, proposed 
feat Ireland's oveipopulafion 
could be alleviated if fee chil- 
dren of fee Irish poor were 
bought by fee rich and eaten as 
delicacies. 

He was being ironic, satir- 
ical, and making a political 
point In the same fashion, I am 
trying to say something about 
fee french. With allies tike this, 
who needs enemies? 

In countless stories about fee 
latest Gulf crisis, you cannot 
help but come across fee names 
of fee Security Council Three 
wbo would, if they could, end 
the embargo against Iraq — 
China. Russia and France. 


democracy, Russia has been 
one just in fee last five minutes, 
and America has fought both 
countries, either by proxy or 
hand-to-hand (China entered 
the Korean War), for fee last 
50 years or so. if they don’t 
find Saddam Hussein repug- 
nant, I am not surprised. 

But France? France fa Amer- 
ica’s buddy, its pal — Lafayette, 
we-arc-here, and all of that It fa 
fee country feat helped America 
gain its independence, and since 
then America has fought on fee 
side of France in two world 
wars. What fa more, to the de- 
light of the French, it gave them 
Jerry Lewis, whose films are 
cherished and respected in that 
country as they are nowhere else 
in the world. Go figure. 

Nevertheless, the French 
political leadership seems un- 
able to constrain a deep resent- 


’d Cohen For the French, long deluded 

into thinking that a first-rate 
ment toward the United States, cuisine makes for a first-rate 
When, for^anstance. . fee .. power, the American attitude is 
French oil company Total too much. 


signed a$2 billion contract wife 
its Iranian counterpart, the 
French prime minister, Lionel 
Jospin, just about whooped 
wife joy. Why? Not just trade, 
monsieur, but because the 
United States strongly opposed 
die deal. As a government of- 
ficial. Mr. Jospin said, he had no 
position. But, he added, “per- 
sonally I rejoice in it.” 

Mr. Jospin and his foreign 
minister. Hubert Vddrine, have 
also quite publicly and with 
great relish differed wife the 
United States over Iraq. It was. 
in fact, the French wbo signaled 
to Saddam more than a year ago 
feat the solid . Western front 
against him was crumbling. 

France objected to U.S. 
cruise missile strikes against 
Iraqi positions in fee Kurdish 


But Paris can easily outdo 
Washington when it comes to 
insufferable arrogance. France 
wanted, for instance, to rejoin 
fee military arm of NATO, but 
only if a French officer rook 
over the southern command, 
meaning fee U.S. Sixth Fleet. 
Not a chance. 

At fee same time, a kind of 
mind-addling anti-American- 
ism seems to have left certain 
French menrally feeble. Be- 
cause fee United States hales 
Mr. Castro, fee French are 
seized wife admiration for him. 

With the Cold War over, it fa 
silly to pretend feat the old al- 
liances will hold — or. for feat 
matter, feat they need to. France 
fa entitled to its own policies. But 
it, too, has a stake in showing 
resolve to fee likes of Saddam 


has proposed a bill that could impose 
criminal penalties on anyone who rated 


north of fee country, and later' Hussein, who is, really, more of 
polled its planes out of fee sur- a threat to Western interests than 


a site wrong or chose not to rate it.) 
What would a reasonable filtering 


•tecting cfluaren, one mat tnaoe un- vvnar woiua a reasonaoie mtenng -m-% 9 « m t- . y -wy a j 

■necessary the sweeping censorship that system, respectful of free speech but ’ Hl*|W T 1 ff #4 

tfee decency act envisioned. The act safe, look like? A _ December “summit M-wt WWi WIc 1 last %/a V MMAJa tZli/ ill 

vfinollu nnc Antim nn n n>f ti r fnr rllilritvfi in Wachlnotnn 


fthe decency act envisioned. The act 
[finally was struck down on pretty 
(much those grounds: first, that it was 
•unacceptable to constrain an entire 
[new medium to a level suitable for 
(children, ate second that ‘Tess re- 
istrictive alternatives” for protecting 
(children did exist and would multiply. 
:That happened. 

| This has not led anyone to leave well 
■enough atone. Several lawmakers have 
■declared their intention to pass a new 
;law to criminalize the (still probably 
iuteefinable) ‘“material harmful to 
[minors.” Meanwhile, fee coalition feat 
;opposed last year’s legislation has split 
[Software companies and some “Net- 
rizen” groups have joined fee admin- 
fistration in its high-profile effort to de- 
late a single rating-and-screemng system 


safe, look tike? A December “summit 
for children on-line” in Washington 
will be one place to start thrashing feat 
out A main point to keep in mind fa 
feat white a single system has some 
convenience value, it fa not needed in 
fee way the V-chip was. Filtering fa 
what browsers, search engines and the 
rest of fee new technologies do best 
Computers are not television sets, 
which cannot block incoming material 
unless fee producers have done fee 
work of sorting and rating it first. Im- 
posing a single system on fee vast 
fields of cyberspace carries free speech 
risks; so does requiring sites to rate 
themselves, and criminalizing their 
mistakes. Any steps in this direction 
need to be taken wife extreme care. 

— THE WASHINGTON POST. 


S EOUL — After 19 months 
of haggling. North Korea 


O of haggling. North Korea 
has agreed to .enter into four- 
party peace talks wife Sooth 
Korea, the United States and 
China, starting on Dec. 9. 

The primary goal of Wash- 
ington and Seoul since mak- 
ing fee proposal for four-party 
talks in April 1996 has been to 


By Ralph A. Cossa 


establishing an environment 
more conducive to eventual 
reunification through a gradu- 
al opening of the North. 

Such an approach fa based 
on fee premise feat when re- 
unification occurs is less in- 


clude mutual force reductions 
by the North and the South, 
talks among general officers, 
and agreement to accept Norfe 
Korean membership of mul- 


zations, such as the ASEAN 


get the North Koreans to come ' portant than bow it occurs; 



SnalbSSribunc 


ESTABLISHED IS87 

KATHARINE GRAHAM, ARTHUR OCHS SULZBERGER 

Co-Chairmen 

KATHARINE P. D ARROW, Vice Chairman 


to fee table in Geneva. Now 
feat this is about to happen, it 
fa time to lay out a coordinated 
map showing where fee talks 
should lead. 

When it comes to dealing 
wife fee North, fee United 
States and fee South share two 
critical objectives: to deter ag- 
gression and to bring about 
. eventual peaceful reunifica- 
tion of fee peninsula. 

There fa a strong coinci- 
dence of views on how fee first 
fa to be achieved, through the 


deterrence provided by South 
Korean forces, fee U.S.-South 


RICHARD McCLEAN. Publisher & Chief Executive 
MICHAEL GETLER. Executive Editor 


• WALTER WELLS, Managing EtStor • PAUL HORVTIZ Deputy Managing EtBtor 
m KATHERINE KNQRR and CHARLES MUCHELMORE, Deputy EtBtars • SAMUEL ABT and 
CARL GEWKTZ. Associate Editors • ROBERT 5. DONAHUE. EtBtor of the Editorial Pages 
• JONATHAN GAGE. Business and Finance Editor 
• REN£ BQNUY. Deputy Pubfoher 

• JAMES McLEOD. Advertising Director •IXDIERBBIJN.Cimilation Director. 
Davcteur de la PubGanfon- Richard McClean 


Iueraaiimal Henld TCbme, 181 Avenue Chartes-de-GanUe, 92521 ScaiUy-stir-S«fflie.Fraia. 

FrJfrMTd +49 6W125M. Far 



Korean forces, fee U.S.-South 
Korean security alliance, and 
fee presence of 37,000 U.S. 
troops in fee South. If Pyong- 
yang were to conclude that the 
South’s security, as well as its 
economy, has been weakened, 
h might be tempted into mil- 
itary provocations. 

As for peaceful reunifica- 
tion, it must be assumed that 
personal and regime survival 
continues to motivate, the 
leadership in fee North. 

The first thing needed is a 
clear expression of overall 
U.S.-South Korean security 
strategy, ft should be aimed 
neither at propping up nor at 
hastening the collapse of fee 
Norfe Korean regime, bat at 


Close consultation is re- 
quired between Washington 
and Seoul on a long-term plan 
for dealing wife the North, one 
that has clearly defined ob- 
jectives and that links prom- 
ised benefits to specific North 
Korean actions. 

Central among such actions 
must be direct dialogue be- 
tween North ate South. 

Seoul and Washington have 
been right not to tie human- 
itarian assistance to the start of 
four-party talks. Once the for- 
mal Geneva negotiations be- 
gin, food aid should be dis- 
cussed, bnt only in fee context 
of overall agricultural reform 
in the North. A multilateral 
program led by the South to 
assist fee North in achieving 


zations, such as the ASEAN 
Regional Forum on security. 

Revitalization of fee 1991 
agreement between Seoul and 
Pyongyang on reconciliation, 
nonaggression and exchange 
and cooperation should also 
be on fee agenda. 

A rc-e valuation of the 
South’s policy prohibiting 
economic and personal con- 
tacts wife fee North seems ap- 
propriate. If a gradual opening 
of the North is a worthwhile 
goal, then the South's policy 
of restricting contacts works 
to its own detriment. Pyong- 
yang has challenged Seoul to 
change its laws. Why not do so 
and then challenge the North 
to permit a freer exchange of 
people and ideas? 

Seoul and Washington 
must make clear fee things 
that are non-negotiable. For 
example, fee Sooth cannbt be 
excluded from any peace 


veillance operation. Saddam, 
ever alert, knew that the allies 
were allied no more. 

Two things are tree about the 
French-American relationship, 
ft has been troubled for some 
time, and, as wife most rela- 
tionships, both sides bave acted 
foolishly. 

The United States can be 
overbearing, sometimes arrog- 
ant and on occasion petty. Be- 
cause fee United States, for in- 
stance, has an argument wife 
Fidel Castro, it wants other na- 
tions not to trade wife Cuba. It fa 
hard to know what to call that 
policy. Maybe “inconsistent” 
is the best word. After all, the 
United States trades wife China, 
which fa all that Cuba is crit- 
icized for being and then some. 


fa American arrogance or Amer- 
ican popular culture. 

When Paris differs with 
Washington, and it will, it ought 
to make its difference known in 
private. Instead we get all sorts 


of officials publicly saying how 
wrong fee United States is 


wrong fee United States is 
about this or feat — and then, 
when chastised, fibbing about 
how they meant no criticism. 

In truth, I love France too 
much to want it bombed. But 
anyone following French-U.S. 
relations of late has to conclude 
that on a given day French for- 
eign policy fa animated as much 
by resentment of fee United 
States as it fa by what is good for 
the West. That fa not a foreign 
policy. That fa a suit. 

The Washington Post. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1897: Leftist Agitators 

PARIS — Part of fee time of the 
Chamber of Deputies was taken 


up with an interpellation of the 
Government on the subject of 


Government on the subject of 
fee expulsion from France of 
Messrs. Macpherson and Tom 
M a nn , the well-known Socialist 


agricultural self-sufficiency is ' agreement That would be a 
not unreasonable, provided it denial of its legitimacy. 


fa contingent on improved be- 
havior by the North. 

Meantime, hnmamtarian 
relief should be handled 
through international agencies 
at fee discretion of those na- 
tions that choose to help al- 
leviate suffering in the Norfe. 

The United States and 
South Korea have indicated 
that confidence building 
should be on fee four-party 
talks agenda. These could in- 


nemat or its legitimacy. 

Seoul and Washington 
should insist fept continued 
presence of U.S. troops is not a 
bargaining chip but a stabil- 
izing force feat makes North- 
South dialogue possible. ' 


agitators. The Socialist party 
endeavored to show that Mr. 
and Mrs. Macpherson came to 
France only to perfect their 
knowledge of French, and tha t 
Mr. Tom Mann’s visit was wife 
fee best motives. Mr. Mac- 
pherson and Mr. Mann were 
sent out of the country to pre- 
vent them from bringing about a 
strike in French ports. 


sions of fee Espionage Act. sakk 
“I had rather be in jail wife my 
self-respect than free with a gag 
in my mouth. I despise and defy 

their laws Because 1 obeyed 

my conscience I lost my citizen- 
ship. but 1 would rather have it 
that way than keep my citizen- 
ship and lose my conscience.” 


The writer is executive di- 
rector cf the Pacific Forum ■ 
CSIS, a Honolulu-based re- 
search institute . He contrib- 
uted this comment to the In- 
ternational Herald Tribune. 


1922: Debs Is Defiant 


CHICAGO — Eugene Debs, in 
fee first speech he has made 

since hfa release from the Federal 

penitentiary at Atlanta, where be 

Served a cmMnrv, 


1947: German Affairs 

LONDON — The United States 
and Soviet Russia agreed at die 
Council of Foreign Ministers 
that a democratic, national Ger- 
man government should be set 
up before the German peace 
treaty fa completed. The Western 
ministers pressed for establish- 
ment of a special commission to 
study the German frontier prob- 
lem. Vyacheslav M. Molotov. 
the Soviet foreign minister, in- 
sists fee German eastern frontier 
is final, in spite of fee fact that the 
Potsdam agreement said it would 


seditious remarks under provi- 


luwuiuuumonD 
German Peace Conference. 



J 








I 

*! 






OPINION /LETTERS 


The Taiwan Obsession 
Isn’t for Everyone 

By Richard Halloran 


V n/w'iwrti — rn me Enplis 
O Comer of the Peopled Pari 
where thirty-something Chines 
gather on Sundays to practice Eng 
lish, the conversation with a 
American visitor turned to whs 
China vitally needs today. 

' ‘Good international rela 
tions. Good relations with thi 
U.S. and Russia." Getting ne\ 
technology from the West.’ 
'Getting better government L 
China." "More trade." 

it was the dog that didn’t bark 
Among more than a dozen younj 
Chinese men and women, no oni 
mentioned Taiwan, the issue tha 

President Jiang Zemin and China ’ 

other political and military leader 
have given top priority. Indeed 
unless the topic was deliberately 


The coming 
generation of 
leaders may be less 
insistent on 
seising Taiwan. 


brought up, it was hardly dis- 
cussed in two weeks of conver- 
sations here and in Beijing. 

"I’d like to see Taiwan become 
pan of China,” said an intellectual, 
* 'but it’s not worth fighting over.” 
He referred to the near clash in the 
Taiwan Strait in March 1996, 
when China fired missiles toward 
Taiwan and engaged in troop ma- 
neuvers on the shore opposite die 
island. China backed off after the 
United Stales dispatched two air- 
craft earners to the area. 

"Let the Taiwanese decide for 
themselves what they want to do,' ’ 
said a teacher in Shanghai, ex- 
pressing an opinion that would be 
vigorously rejected by his rulers. 

A scholar from Beijing agreed: 
' 'Nobody really cares about 
Taiwan. They have too much else 
on their minds trying to get better 
jobs.” A graduate student, asked 
what his friends talked about over 
a beer, shot back: “Jobs.” 

In stark contrast, the Chinese 
government has made the con- 
quest of Taiwan an objective of the 
highest national importance. After 
his meeting with President Bill 
Clinton in Washington a month 
ago, President Jiang insisted on a 
passage in their joint statement: 


"China stresses that the Taiwan 
ques tion is the most important and 
sensitive central question in 
China-U.S. relations/’ 

Throughout his tour of the 
United States, Mr. Jiang empha- 
sized that the future of Taiwan 
was an internal Chinese matter 
that brooked no foreign interfer- 
ence, one that would be resolved 
by force if necessary. Without 
doubt, he reflected a genuine sen- 
timent among China's political 
and military leaders. 

Getting a statistically accurate 
picture of tiie views of younger 
Chinese is impossible in a nation 
of 1.2 billion where polls are con- 
trolled by the government. And 
while many Chinese were willing 
to express their views on Taiwan 
privately, no one wanted to be 
identified. Even so, the anecdotal 
evidence was striking. 

The implications are twofold: 
The current rulers of China will 
continue to seek to rapture 
. Taiwan even though they will lack 
the military capability for an in- 
vasion for 10 years, according to 
American and Asian analyses. 
Beyond that, the coming gener- 
ation *of Chinese leaders may be 
less insistent that Taiwan be part 
of China, thus averting a poten- 
tially serious conflict. 

During his joint press confer- 
ence with President Jiang in Wash- 
ington, Bill Clinton hinted at sup- 
port for Taiwan's continued 
separation from the mainland 

In his prepared remarks, Mr. 
Clinton said America’s China 
policy "has allowed democracy 
to flourish in Taiwan and provides 
a framework in which all three 
relationships can prosper" — be- 
tween the United States and 
China, the United States and 
Taiwan, and Taiwan and the 
People's Republic of China. 

In putting all three relationships 
on an equal footing. President 
Clinton clearly endorsed the 
status quo for Taiwan. 

International Herald Tribune. 


Letters intended for publication 
should be addressed “Letters to 
the Editor" and contain the 
writer's signature, name and full 
oddness. Letters should be brief 
and are subject to editing. We can- 
not be responsible for the return of 
unsolicited manuscripts. 



LETTERS TO THE EDITOR 


About Iraq 

As a country that stands for free 
trade, the United Stales has a 
unique weappn against Saddam 
Hussein. 

As a "reward" for letting UN 
inspectors back into Iraq, Pres- 
ident Bill Clinton should lift all 
sanctions and encourage every oil 
company and business concern in 
the United States to get in there 
and start wheeling and dealing. 
Then, instead of a few Americans 
on an inspection team, there 
would be hundreds of drillers, rig- 
gers and geologists poking around 
all over Iraq. 

Boom times are a great cure 
for oppression. You can’t play 
hide-and-seek with your missiles 
when every track in the country 
is being used to haul food 
and goods to the marketplace. 
Scientists aren’t going to work 
on crummy biological warfare 
weapons when they can make 
10 times as much in an oil com- 
pany laboratory. 

A palace guard isn’t so special 
when an ordinary guy in Bagh- 
dad can feed his family, fix up 
the house and buy a car. Super- 
market owners won’t let the 
army fire rockets at Israel if 
that’s where their fresh oranges 
come from. 

For decades, U.S. sanctions 
have allowed dictators around 
the world to remain far beyond 
their normal shelf life. It’s time 


to open the doors to the fresh air 
of commerce. 

FRANK L GROSSMANN. 

Nice. 

Regarding "US. Suspects Sad- 
dam Has Enough Poison Gas to 
Kill the Entire World (Nov. 26): 

So U.S. Defense Secretary Wil- 
liam Cohen suspects that Iraq 
might have produced enough of a 
deafly chemical to kill everyone 
on Earth. Frightening, to be sure, 
but scarcely unique. 

When, after the end of the Cold 
War, the United States withdrew 
its own massive stocks of chem- 
ical weapons from Germany for 
eventual incineration at Johnston 
Island, an atoll in the Pacific, it 
was reported that these stockpiles 
alone were sufficient to destroy all 
life on Earth three times over. 

JOHN V. WHITBECK. 

London. 

Touring in Egypt 

Egyptian officials in charge of 
security for tourists should focus 
on common sense instead of win- 
dow dressing. 

Just a week before the massacre 
in Luxor, a friend and 1 arranged 
for a chauffeur and guide to take 
us by car from Luxor to Aswan. 
We were to visit temples along the 
way. 

At the last minute, we were told 
that all land tourists (as opposed to 
those taking Nile cruises) must 


travel by convoy "for security 
reasons." 

Obliged to leave from a meet- 
ing point at 7 A.M. with a group of 
buses and cars — we were about 
120 people in all — we lost time, 
and the convoy was allowed to 
visit only two temples instead of 
the three that we had planned to 
see ourselves. 

What better target could there 
have been than this convoy? 

We waited several times at 
stops for the convoy's escorts to 
show up — four or five armed 
men whom we rarely saw except 
at the temple stops, where they 
played cards and talked. 

SUZY PATTERSON. 

Paris. 

Stress Reduction . 

Regarding "Martinis,' Steak. 
Cigars: America Goes Dionysi- 
an" (Meanwhile. Nov. 27) by Wil- 
liam Grimes: 

Mr. Grimes quotes the editor of 
Restaurant Hospitality as saying, 
“People have decided that stress 
reduction is more important than 
an extra inch on your waist or a 
flabby bicep.” 

Wait a minute! Don't exercise 
advocates say that the way to lose 
those inches and to bulk up those 
biceps — i.e., exercise — is the 
best stress reducer imaginable? 

SHARI LESLIE SEGALL 
Paris. 


Turkey’s Point of View 
On Holiday Dinner 


By Colman McCarthy 


B altimore — N ovember is 

when my flesh-eating friends 
call me a spoiler. I insist on using 
accurate language to describe 
Thanksgiving: a holiday focused 
on a corpse, a turkey’s. 

Even then, that’s not really the 
full story. The Thanksgiving ca- 
daver is a "chemicalized,” an- 
tibiotic-laced. bioengineered blob 
of high-fat, high-cholesterol flesh 


MEANWHILE 

that is pan of the food chain be- 
cause me National Turkey Fed- 
eration. among other vested in- 
terests, stakes large amounts of 
advertising and promotional 
money to dupe the American pub- 
lic into bebeving that the birds 
are essential to the celebration of 
the fall harvest. 

I have never forgotten "The 
Slaughterer." a short story by Isaac 
Bashevis Singer, the Nobel laur- 
eate who lived healthily on on an- 
imal-free diet. In the story. Yoineh 
Meir wanted to be a rabbi. 

No. the village Hasidim in the 
old country ruled, you are called 
by God to be the ritual slaughterer 
as found in sacred texts. 

"Barely three months had 
passed since Yoineh Meir had be- 
come a slaughterer.” Singer 
wrote, “but the time seemed to 
stretch endlessly. He felt as 
though he were immersed in 
blood and lymph. 

"His ears were beset by the 
squawking of hens, the crowing of 
roosters, the gobbling of geese, 
the lowing of oxen, the mooing 
and bleating of calves and goats; 
wings fluttered, claws tapped on 
the floor. The bodies refused to 
know any justification or excuse 
— every body resisted in its own 
fashion, tried to escape, and 
seemed to argue with the Creator 
to its last breath." 

Yoineh Meir. whose life would 
end in madness, also could not 
escape: “The killing of every 
beast, great and small, caused him 
pain as though he were cutting his 
own throat Of all the punishments 
that could have been visited upon 
him, slaughtering was the worst" 

Fiction becomes reality every 
year in late November when of- 
ficials from the turkey-killing in- 
dustry haul one of their full- 
featbered toms to the White 
House. President after president 
dutifully has played his pan in this 


yearly ritual of deceit by granting 
a "pardon" to the bird, while not 
dating to tell the public that some 
300 million other Turkeys are 
slaughtered annually, 40 million 
for ’nianksgiving alone. 

I get asked. "You some kind of 
animal rights nut or something?" 

Not really. 1 just like to digest a 
bit of truth and, realism with my 
vegetable-fniii-grain based meals. 

I have even been linked with 
Communists. At Thanksgiving in 
1987, Senator Jesse Helms, the 
Washington errand boy for North 
Carolina’s turkey industry, wrote 
a letter to the editor of The Wash- 
ington Post responding to a 
column I had written on diseases 
that humans catch from salmon- 
ella bacteria in turkey meat. 

After dismissing the health 
threat by assuring readers that 
"some bacteria are to be found in 
almost every thing we eat. includ- 
ing carrots." the Republican sen- 
ator, ruffling his feathers, said my 
column wasn't likely to stop 
people from earing turkey, least of 
all in the Helms household. 

"A turkeyless Thanksgiving." 
be said, would mean ' 'saucers and 
plates would probably fly around 
the dining room." Then he heaved 
a projectile of his own at my Com- 
mie-pinko column: "This latest 
curious advocacy printed in The 
Post fits in with its endorsement of 
Communist and socialist dictator- 
ships around the world and its 
relentless efforts to appease the 
Communists in Nicaragua. Cuba 
and the Soviet Union." 

This Ogden Nash-like verse, 
entitled "Point of View," might 
help the senator lighten up: 

Thanksgiving dinner's sad and 
thankless. 

Christmas dinner's dark and 
blue. 

When you stop and try to see it 

From the turkey's point of 
view. 

Sunday dinner isn't sunny. 

Easter feasts are just bad luck. 

When you see it from the view- 
point 

Of a chicken or a duck. 

Oh how / once loved tuna 
salad. 

Pork and lobsters, lamb chops, 
too. 

TUI I slopped and looked at 
dinner 

From the dinner's point of 
view. 

The Baliimive Sun 


BOOKS 


EAST TO THE DAWN: 

The Life of Amelia Ear hart 

By Susan Butler. 489 pages. $2750. 
AJdison-Wcsley. 

Reviewed by Fred Kaplan 

I N June 1928 Amelia Eaifaart became 
the first woman to fly the Atlantic and, 
instantaneously, the second, raosr fa- 
mous aviator alive, one year after Lind- 
bergh’s flight established the category. 

She was a slender, attractive young 
woman from the Midwest whose com- 
bination of intelligence, ambition and 
modesty gave her an irresistible charm. 
She was also courageous, with a small 
touch of recklessness that in 1937 helped 
end her life. 

In 1928. though, she was the right 
person in the right place. A licensed 
amateur pilot, totally unknown (except 
in Boston), she earned her living as a 
social worker. In a series of accidents, 
she was selected by competing entre- 
preneurs to become the first woman to 
make the trans-Atlantic flight The risk 
was that she would become another ac- 
cident statistic. By the mid- 1920s, flight 
had caught the public imagination as it 
would not do again until the moon land- 
ing in 1969. Eager for firsts, for fame, for 
prizes, pilots were regularly disappear- 
ing into the waves or crashing into the 
rocks. , 

AH of Ear hart's initial fame resulted 
from the fact that she was a woman — and 
an attractive one who could be readuy 
glamorized. During the 1928 flight she 
was passenger, not pilot. 

Two men did the actual flying. That 
nude no difference to the crowds and the 


headlines: That a woman had the guts 
simply to be in the plane was sufficient It 
was, of course, an expression of the deep 
sexism erf the culture, but it gave Eaifaart 
her chance to become a champion of 
women's equality in the workplace. That 
and aviation were the dominant themes 
of the rest of her brief life. 

With die help of her husband and 
business manager. George Palmer Put- 
nam, one (rf the supreme publicists of the 
period, she capitalized on the oppor- 
tunity. Eaifaart knew how to be a heroine 
— a rare talent — and made certain that 
she was never just a passenger again. 

With her own airplane, she soon be- 
came the premier publicist for fee avi- 
ation industry and for women in pro- 
fessional fife. A lecture-circuit trouper, 
she made innumerable speeches from 
coast to coast, her face as well known as 
Franklin D. Roosevelt's or Mary Pick- 
ford's. She, too, was America's sweet- 
heart. Since records were what it was 
about, she became the first woman to fly 
from Hawaii to fee West Coast, then to 
fly around fee world — almost 

On the whole Eaifaart kept her private 
life to herself; this was partly an ex- 
pression of personality, mostly a re- 
sponse to fee demands of fee fame that 
defined her. An androgynous figure, she 
attracted both men and women, but 
which she was attracted to is less clear. 

One evening at fee White House, 
Eleanor Roosevelt, given to enthusi- 
asms, took up Harhart's offer to take fee 
first lady on her first flight Soon they 
were cutting above Washington. She 
immediately wanted Earhait to give her 
flying lessons, but fee president said no. 

Butler’s biography, which supersedes 


Mary Lovell’s and Doris L. Rich's 1989 
accounts, is certainly fee single best 
book that we now have on Earhait ’s life. 
It tells the story remarkably well, though 
not gracefully. It is strong on detail and 
on narrative drive. For Eariian enthu- 
siasts also interested in cultural history, 
it might best be teamed with Susan 
Ware’s "Still Missing: Amelia Eaifaart 
and fee Search for Modem Fe minis m" 
(1993); that work’s relentless, judg- 
mental emphasis on fee cultural context 
of Earhait ’s story is useful Still elusive 
as a personality. Ear hart comes into 
sharper, more realistic focus through 
Butler’s lens. This is especially true of 
her relationships wife Putnam, wife 
Gene Vidal (Gore's father) and with her 
Midwestern family, above all her al- 
coholic father. 

She was a driven and driving lady, 
gutsy, strong-willed, charmingly com- 
panionable, determined to use her talents 
and her fame for personal success and lo 
highlight fee capability of women to do 
all fee things men do. And she did these 
things gracefully, wife a sincere and soft 
touch. Butler’s account of the fatal 1937 
flight rings true. She is almost certainly 
right in concluding that Earhart’s plane 
ran out of fuel and crashed, feat her 
bones are at the bottom of fee sea. But 
the Eaihart “mystery” is part of fee 
mystique that made her famous in the 
first place. The world loves a glamorous 
mystery, and this one has helped keep 
Earhart’s fame alive — and in print. 

Fred Kaplan, who has written lives of 
Dickens and Henry James and is now 
writing one of Gore Vidal, wrote this for 
The Washington Post. 


BRIDGE 


By Alan Tr uscott 

T WO Icelandic stars 

seemed about lo capture a 
major title at the American 

contract Bridge League’s Fail 
National Championships in 
Si. Louis recently, but they 
\\ ere overtaken in the stretch 
run. Adalsieih Jorgensen, a 
former world team champion, 
and Sigurdur Svemsson. both 
of Reykjavik, had to seme for 
second place in the lift .Mas- 
ter Open Pairs, behind Jeff 
Schuen of Riverwoods, 
Illinois, and Kern' Smith of 
Milwaukee, who scored 95 
percent in fee final rouni 
The standings were: nreu 
Schuen and Smith 2086.8 
match points: second, Jor- 
censen and Svemsson 
2057.78: third. Dennis kasle 
o! Bloomfield Hills, 
Michigan, and Ganry Hayden 
of Tucson. Arizona. 2044.67: 
fourth. Mike Piwell of Dallas 
and Gene Freed of Los 
Angeles, 2034.1: fifth. 
Lindop of Toronto and Jerry 


North 


Helms of Charlotte, 
Carolina, 2023.73. 

Another player bora in Ice- 
land, a resident in this country, 
came even closer to victory m 
the Life Master Women’s 
Pairs. . 

Hjordis Eythrosdotnr now 
of Huntsville. Alabama, play- 
ing wife Linda Perlman of 
West Palm Beach, Florida, 
fell short by just three match 


NORTH 
♦ J9B4 
? A K Q.8 
0 97 5 
*A7 


WEST(D) 

* 5 

C 10 9 7 2 
©QJS6432 

*4 


EAST 
♦ 7 

354 
« A 10 

*Q J 1098553 


SOUTH 

* AKQ 10 6 32 
0 J63 

0 K 

* K2 

goth sides were vulnerable. The 

PJKI Soldi 
West North Ea« rffT 

3 o DbL 5* 8N -‘- 

Pass Pa« P!as 

Vest led the dub four. 


oints. fee title went to Sylvia 
Moss of Manhattan, who won 
her first national title, and 
Janice Seamen of Miami. 

The standings were: first. 
Moss and Seamou, 774.22 
match points: second, Perl- 
man and Eythrosdotnr, 
770:93; third Barbara Fel- 
lows and Marilyn Hemenway 
of Omaha, 760.61: fourth. 
Peg Waller of Eden Prairie, 
Minnesota, and Cynthia 
Balderson of Minnetonka, 
Minnesota, 760.14; fifth. 
Lynne Feldman of Cham- 
paign. Illinois, and Carlyn 
Steiner of Seattle, 737.32. 

Bobby Levin of Orlando. 
Florida, a former world 
champion, made fee most im- 
pertinent bid of fee tourna- 
ment on fee diagramed deal. 
As South, he heard his part- 
ner, Reese Milner (rf Los 
Angeles, double an opening 
bid of three diamonds. When 
East jumped to five clubs, his 
normal action was to bid six 
spades. This was the contract 
at most other tables, and fee 
declarer made 12 or 13 tricks 


depending on fee opening 
lead. 

At other forms of scoring. 
Lervin would have made fee 
same bid But this was match 
points, which unlike real life 
often make it necessary to 
take large risks to make small 
profits. He chanced a bid of 
six no-trump, wife the idea 
feat West would be likely to 
lead a club; not a diamond. If 
his diamond suit was headed 
by fee ace-queen, he would 
be unlikely to play fee ace, 
expecting Levin to hold fee 
guarded king. 

The plot worked. West led 
a chib, and South took all fee 
tricks and reached the top 
score. He would have had a 
bottom score if West had 
been inspired to lead a dia- 
mond Alter a low diamond 
lead, fee result would have 
been down six, but fee dia- 
mond queen would have 
blocked fee suit, allowing 
South to escape for down 
one. But fee size of the pen- 
alty would have been irrel- 
evant. 


ADVERTISEMENT 


ADVERTISEMENT 


APPEAL 

FOR A UNITED AND UNDIVIDED EUROPE 

It is symbolic that on the eve of the 2 1st century, Europe has the historic opportunity to extend its 
security, political and economic structures. Vision and determination will be decisive for Europe's 
citizens and leaders to meet this opportinity and challenge - and enhance peace, stability and 
prosperity for all. 

Together with several other nations, Lithuania is ready to meet this opportunity and challenge. It will 
endeavour to meet the "Kopenhagen” requirements of European Union Membership, following a 
simultaneous start of accession negotiations. To separate European nations may create new divisions 
and divisive issues among future Member States. This divides rather than promotes unity. 

Lithuania peacefully regained its independence, and stimulated the process that eventually led to the 
fall of the Berlin Wall: Lithuania is returning to Europe with its ancient culture embedded in 
European tradition; fostering the principles of acceptance and coexistence of nationalities, that has 
existed since the Renaissance era during the Grand Duchy of Lithuania. As recognised by the 
European Commission Lithuania is a democratic country “with stable institutions guaranteeing 
the rule of law, human rights and respect for and protection of minorities.”' 

In the past seven years, we have seen Lithania restoring its sovereignty and becoming a modem, 
open,, dynamic and democratic State - full of energy and optimism for its future among its European 
allies and friends. Lithuania has based its foreign policy on the positive vision of the future instead of 
the wrongs of the past. Its friendly relations with neighbouring countries will promote consistently 
growth in security, stability and unity in Europe. 

Lithuania has a lot to offer an excellent location at the Baltic sea with an up-to-date harbour; well- 
developed infrastructure; and fine transport facilities. It' can serve as a perfect opening to the Eastern 
markets. We know Lithuania for its a well-educated population and a well-established scientific 
community. We recognise Lithuania’s sound economic growth, stable currency, and stable and 
open political environment. The rapidly growing foreign investment is an illustration of the world's 
confidence in the progress of Lithuanian economy and its prospects. Even though we recognise 
Lituania has many things to do, a simultaneous start of accession negotiations will further promote 
investments and economic growth. 

With these facts firmly in mind, we call on the people and the Governments of the European 
Union Member States, to decide at the European Council in Luxembourg that a policy of 
potential division in Europe must be replaced by a more harmonious approach; to give a simultaneous 
start to the negotiations for applicant countries meeting the democracy criteria Mid to begin accession 
negotiations in 1998 with Lithuania among the other candidates. The result will contribute to 
the creation of a more secure and prosperous Europe for the new nuUenaium; we should seize 
this historical opportunity. 


Helmut Schmidt 
Row. SchlOtes 

Lbo Tin DEMANS 

Hans-Dietrich Gensches 
Catherine Lalumiebe 

Otto Graf Lambsdorff 
Frode Kusi offmso i 
Orro von Habsburc 
Niels Sindal 
Patrice Gelard 
Paw. Flynn 
Uno de Ben Em 
Lord Yehudi MonmiN 
Prof. Justus Frantz 
PROF. F. HlRZENBRUCH 

Mario Soares 


f. Federal Chmeter, Germany 

f. Prinw Mmobr, Denmark 
Vice President European Por&ment 
f. Prime Mtaislfr end f. Minister of 

Foreign Affairs, B etyrum 

Member. European Parliament 

J. Federal Minister of Foreign Afyzirs, Germany 

f. Minister of European Affairs, F route 
Member, European Parliament 
f. Federal Minister of Economy, Germany 
Member, European Parliament, Denmark 
Member, European Parliament, Germany 
Member. European Parliament, Denmark 
Senator. France 

Member, House of Commons, United Kingdom 
Member, Portent nl, Italy 
Conductor, vtobnisl 
Conductor, pianist 

Ma Planck Institute for Mathematics, Germany 
f. President and f. Print Minister. Portugal 


Felipe Gonzalez f. Prime Minister. Spam 

Michel Rocard J. Prime Minister, France 

Emilio Colombo /. Prime Minister and l Minister of 

Foreign Affairs, Italy 

Prof. Karl-Hhnz HoumuEsCftaiman, Foreign Affairs Committee. 
Bundestag. Germany 

Alternate Minister of Foreign Affairs, Greece 
/. Minister of Foreign Affairs, Italy 

Chairman, Foreign Affairs Committee, Senate. 
Belgium 

Member, European ParBament, Finland 
Member, European Parliament, s veden 
Senator, Holy 
Senator. France 
Nobel Prize Winner, writer 
P rima Ballerina 

Director, Ma PtancJ 1 vtili/tf for Mathematics, 
Germany 

PiYSi&Ht. Sue Lyennfflst do Earn. Frump 


George A Papandreou 
Antonio Martino 
Valere V autmans 

JOrn Donnes 
PebStgnmarcz 
JasGawronsjo 
Hubert Durand Gusto. 
Czeslaw Milosz 
Mavapusecxaia 
Prof. Don Zagier 

IeromeMonoo 




ENTERJVATIOINAL HERALD TRIBUNE 
FRIDAY, NOVEMBER 28, 1997 



New Taste 
Of Tap as 

In Madrid 

And the Accent 
Is on Service 

By Al Goodman 

ADRID — By design or 
default, visitors to tbe cap- 
ital usually aid up in a 
tapas bar, often wonder- 
ing what the fuss. was all about, given 
tbe proliferation of greasy fried cala- 
mari, starchy potato omelette and a 
brood of surly waiters. 

Even when prepared to perfection, 
the standard tapas menu has its limits. 
Yet in a sign of how Spain's signature 
snacks can adapt to toe times, a new 
generation of tapas bars has emerged in 
the past few years, betting on inno- 
vation, quality and friendly service. 
Yes, under the same roof. 

These vanguard tapas bars, with a 
wide selection of wines, are bunched 
together in the unlikely setting of the 
city's oldest, most tradition-bound neigh- 
borhood — the Habsburg district It was 
in vogue centuries ago when the Spanish 
Empire flourished abroad and the In- 
quisition was making a point at home. 

But as Madrid grew, the focus shifted 
away from the Habsburg’s colossal 
churches, narrow winding streets and 
balconied stone buildings. The tapas 
renaissance has again made it the pre- 
ferred site, far better than the overpriced 
traditional tapas on the nearby Plaza 
Mayor, or the seemingly chic tapas on 
the overcrowded Plaza de Santa Ana. 

The Pioneebs 

The pioneers of the new tapas bars 
were Carlos Diaz and Eduardo Larrouy, 
whose place, Diaz y Larrouy, opened in 
1992. It’s a good starting point on the 
tapas tour, al 6 Cava Baja (tel: 366-7089, 
open daily from I to 4 P.M. and 7 P.M. 

to 1 AM.). Expect to 
stand unless you come 
early, because there ase 
just a few stools along 
the curvy red bar and 
mirrored side walL 
Diaz y Larrouy offers 
38 wines from IS Span- 
ish appellations that go beyond the fa- 
miliar Riojas to fittte-known brands from 
Galica, Catalonia, the Basque Country 
and La Mancha. On tins visit, a 1991 
Ondarre Rioja reserve, at 250 pesetas 
(about $1.75) per glass, accompanied a 
slice of country bread rubbed with fresh 
tomato and topped with thinly sliced 
iberico cured ham and a drizzle of olive 
oil (400 pesetas). An accomplice opted 
for melted cheese and smoked salmon on 
bread (500 pesetas). It cost about $4.50 
per parson, the minimum one should 
expect to pay at die new tapas bars. 

Next stop is Taberna deCien Vinos, a 
few blocks away at Cos tan ilia del Nun- 
cio 17 (tel: 365-4704, open from 1 to 
3:45 P.M. and 8 to 11:45 P.M. Closed 
Monday). The taberna, winch serves 15 
wines daily, in rotation from its cellar of 
140 different labels, is in the 18th-cen- 
tnry former annex to a duke's palace. 

Two wooden columns separate the bar 
from the section with tables and stools 
(no reservations taken). A silky zucchini 
paid spread on french bread (290 pesetas) 
accompanied a glass of 1994 red Pedrosa 
from tbe Ribera del Duero appellation 
(225 pesetas) in Old Castile.. Larger 
plates include smoked meat from Leon 
province (1,300 pesetas) and a salad of 
salted, thinly sliced dried tuna strips over 
a bed of lettuce (900 pesetas). 

One of the founders of Cien Vinos in 
1994 was Jose Luis Sabroso, who went 
to elementary school in Madrid with 
Carlos Diaz, of Diaz y Larrouy. And 
Rosa Jimenez, an owner of Taberna Bil- 
bao, also has known Diaz for years. 

Taberna Bilbao is at 
Costanilla de San An- 
dres 8, on the Plaza de 
la Paja (tel: 365-6125, 
open daily from J to 4 
P.M. and 8 P.M. to mid- 
night). It opened in 
1996 and is larger (with 
17 tables) and more modem-looking 
than the other two, with its stone walls, 
low lighting and metallic adornments. 

The cook, Gotzon Beaskoetxea, is 
from the Basque region, and the bar 
serves a fruity Basque white wine of the 
Txakoli type, made at his family’s coun- 
try home. It costs 200 pesetas per glass 
and can go with a tapa of moist codfish, 
cooked pil-pil style in its own broth, and 
spread on toasted bread (250 pesetas). 
The third partner, Alfredo Perez, has 
been known to push fried green to- 
matoes (500 pesetas) or cod croquettes 
(600 pesetas) on willing clients, along 




with the 45 other wines available. 

A FOURTH choice is Taberna 
Tempranillo at Cava Baja, 38 
(tel: 364-1532, open daily from 
2 to 4P.M. and 7 PAL to midnight). First 
cousins Juan and Demetrio Caballero 
opened it in 1996, and they serve plenty 
or wine made with the tempranillo 
grape, die stalwart of Spanish red wines. 
Theirs is the most downscale in decor of 
the four bars, with exposed bride walls. 

A glass of 1994 Ochoa, from the Nav- 
arra region and made with the tem- 
pranillo grape (225 pesetas), could ac- 
company cooked wild mushrooms on 
toast (400 pesetas) or smoked fish and red 
peppers on french bread (200 pesetas). 

Al Goodman , who writes for The New 
York Times from Spain, wrote dus for the 
International H erald Tribune . 




PAGE 12 



5:30 A.M. and It’s Time to Fish 

Amid the Palms and Mangroves of Florida 


By Wendy Plump 




SLAMORADA, Florida — In my 
hotel room in Islamorada, a tele- 


chipper voice tells me it is 5^ 
AJVL I come awake slowly to stars in 
the failing dark outside and a hot 
breeze soughing through the curtains. 
Only on vacation can you gee op th is 
early and feel a vague thrill about what 
you’ll be doing once you find your car 
keys. 

As it happened, I would be casting 
for bonefish in the backcouxury flats of 
Florida Bay. The flats are the shallow 


f 


islands of mangroves lying in every 
direction. They are the haunt of tarpon, 
permit; snook and bonefish, small but 
blustery gamefish. Hook one and you 
have a nasty little fight on your hands. 
That is why bonefish are beloved of 
those who fish in the Upper Keys. 

The typical visitor to the Florida 
Keys starts or ends with Key West, 
down at the other end of the chain. But 
the Upper Keys, too, offer fishing, 
diving, snoikeling and sunsets. And 
you don’t have to hear endless Hem- 
ingway lore to enjoy them. 

I was there in August, winch is a 
ludicrous time to go to Florida unless 
you like spirit-crashing heat I do. 

Five Hours in a Skiff 

The Upper Keys begin with Key 
Largo, about an hour's drive south of 
Miami, and stretch southwest some 35 
miles (56 kilometers). Plantation, 
Windley, Upper and Lower Mate- 
cumbc, Craig. Fiesta and Long Key are 

keys that barely riseaSra faftrans^ 
lucent waters. Throughout the Keys the 
highest point is just 18 feet (5J5 meters) 
above sea level. 

Just before 7 AM. I met Duane 
Baker, a fishing guide, and another 
angler, Doug Topper, who spent the 
morning tossing perfect casts at every 
cloud of sand in the water. We fished, 
from a 16-foot skiff. 

For five hours in 90-degree (32-de- 
gree centigrade) sunshine we drifted 
past pretty mangrove-covered islands 
off Key Largo. Baker stood astern on a 
poling platform, pushing us along, 
watching for bonefish feeding in the 
shallows. ’’There’s a school at 11 
o’clock,” he said suddenly, “40 feet 
off.* * Topper and I jockeyed for casting 
room. He pinpointed Ms cast 1 
wrapped mine around die end of my 
pole. Byway of comfort. Baker told me 
that bonefish are difficult to catch be- 
cause they have a small strike zone. 

Topper finally caught a 10-pound 
(4-5-kilogram) bonefish on a long cast 
that arched gracefully over 35 feet of 


water to find its. made. I caught my 
seven-pounder an one of the few casts 
that actually made it into the water. 

We treasured the moments briefly, 
the bonefish in our hands glittering like 
silver quartz. In the Keys, you politely 
snap a picture and that release your 
fish. Particularly in well-fished areas 
like fee Upper Keys, catch-and-release 
practices are vital to maintaining the 
healtfii of the fishery. 

- Baker specializes in fly fishing as 
well is in fishing with light tackle, as 
we did. Deep-sea fishing is also pop- 
ular. Depending on the season there are 
saiifijh, ambegack, kmgfiah, tuna, dol- 
phin fish and make shark in the Gulf 
Stream offshore; there are snapper, 
grotper, mackerel, cobiaand barracuda 
over tbe coral reefis; tad in Florida Bay, 
yon can fish far bonefish, snapper, 
mackerel, permit, tarpon and snook. 

Perhaps the brat way to become ac- 
quainted with the Upper Keys is simply 
to drwe them on Route I. Almost aU 
lodges, stores and restaurants are listed 
by mile markers, from Mile Marker 


staring morosely across a field of brain 
caraL . 

The next morning l drove down use 
whole Upper Keys, crossing over 
bridges that spanned bright blue water. 
There are islands dropped like bnght 
green candy on either side of Route 1 . 
Some are named; some ;are too small to 
be Some lie just offshore to 

form tiny coves with the main key, 
which lucky homeowners call their 
frwn and surround with formidable 

Ju^wra^SuJg^Siinfi to Lower 
Matecumbe Key, at Mile Marker 77 A, 
sfa Robbie's Marina. It offers charters to 
several of the smaller keys nearby, in- 
cluding Lignumvitae and Indian Key, as 
well as two-hour trips to the Everglades. 
But Robbie’s is besr known for its 
greedy tarpon, large gamefish that gath- 
er hoe in droves to grow fat and lazy. 

I bought a backet of fish and hung 
over fee dock with the rest of the tour- 
ists to feed them. The Keys ore not 
crowded in August, bat Robbie's was. I 
watched one woman lean almost into 



through Key Largo looks much like a 
divided highway in a low-rise suburb, 
with fast-food outlets and cheap hotels 
on either side. The ocean highway, with 
water views east and- west, is nowhere 
in sight until halfway down fee Upper 
Keys. Yet here, ax Mile Marker 102.5, 
is John Pennekamp Coral Reef State 
Park, which I visited on my first day in 
fee Keys. The first undersea parkin the 
United States, Pennekamp covers a 20- 
mile wide swath of ocean full of coral 
reefs, seagrass beds and mangrove 
swamps. 

The park offers snoikeling and 
diving trips, glass-bottom boats, scuba 
courses, camping, canoeing and kayak- 
ing, short nature hikes, powerboats, 
tours ^ and a couple Or manmade 
beaches. 

I took the 3 PM. snorirelingtrip out 
to White Bank Reef, which straddles 
the park and tbe Florida Keys National 
Marine Sanctuary beyond it We began 
wife a 10-minute boat ride through fee 
stately mangroves, our wake lapping 
gently at fear red roots. Herons lifted 
like jump jets out of the trees. Hie 
swamp opened onto a sweep of blue 
sky and ocean. The reef, 
one of about 30 feat can 
be visited on tours from 
the park, is a 15-minute 
wind-tossed ride out: da 
fee ocean.' We anchored 
about 50 yards from 
where fee coral sprawls 
in a half-acre circle. Fish 
bobbed along in brilliant 
variety. I spotted the 
reef’s mascot; a five-foot- 
barracuda named Bnbba, 


delight. 


A N hour before sunset X headed 
down Route 1 to a prime view- 
ing spot I picked out a few 
nights ago, stopping first at Papa Joe’s 
Landman; Restaurant, bayside at Mile 
Marker 79.7, where I had a howl of 
seafood bisque, thick and filling. Its 
outdoor bar nangs over the dock and 
was crowded wife local artists and 



aid, I drove down to the 
Channel 2 bridge, which spans fee con- 
fluence of waters between Lower 
Matecumbe and Craig Key. I was sur- 
rounded by fishermen, who put re- 
spectful distances between one another 
and fished in silence off fee trunk of the 
old bridge feat was left here for them 
when fee new one was built 
Out over Florida Bay, where the sun 
was going down, fee clouds were on 
fire and the color spread down into fee 
water. On fee ocean ride of fee bridge 
the moon was going up — full that 
night, as it turned out — and it threw a 
glittering path on tbe Florida Straits. 

I took out my new G. Loomis rod. 
dropped a line in, and 
leaned hack against 
fee bridge. Even if I didn't 
catch a fish, no one here 
would consider my 
time wasted — least of all 
me. 


Wendy Plump, who 
writes frequently about 
fishing ana other recre- 
ational sports, wrote this 
mj for The New York Tunes. 



Gulf and Tennis on Longboat Key 

Plenty of Things for the Kids — and for Parents Too 


The Keys, which rise to a maximum of 18 feet above sea level, offer a 
wide range of activities for adults and children. You can rent a skiff and 
I fish, play tennis or eat at Papa Joe's Landmark Restaurant (middle). 


By Constance L. Hays 

Neve York Times Service 

L ongboat key, Florida— it 

had been years since we took a 
family vacation to a place feat 
did not feature accommoda- 
tions, meals and activities arranged by 
other, better organized family mem- 
bos. So it was with no tittle trepidation 
that I found myself — with my husband, 
oar three children and our indispensable 
baby-sitter — boarding a flight -for 
Tampa last March and co ntinuing to 
Longboat Key by car in a storm. 

We had booked a two-room suite at 
the Colony Beach and Tennis Resort, 
which a travel agent had assured me 
was deeply child-friendly. Longboat 
Key resembles a skinny finger along 
the Gulf Coast It’s nowhere near the 
chain of islands at Florida's southern- 
most tipthat most people think of as the 
Keys. The resort is only eight miles 
(12.8 kilometers) north of Sarasota. 

Tbe Colony, which unfolds along a 
driveway lined wife tropical greenery, 
is best known for tennis, and there is a 
lot: 21 co arts wife clinics virtually all 
day, for all ages, especially children. 
Our oldest, ages 4 and 6, signed up 
immediately for a free program called 
Tiny Tots, where they spent half an 
hour every day hitting at fee net, more 
or less, wife wisecracking pros who 
supplied little racquets and the incent- 
ive to go after the ball. 

For older players, the hotel offers 
match-making as well as advanced clin- 
ics like adult strategy and junior grand 
masters. The latter is described in hotel 
literature as “designed for high inter- 
mediate level to tournament players, v 
and thexe is a fee for clinics. T ennis is 
free all day, although you do need to 
reserve a court The courts are open 8 
AM. to 6 PM.; no night play, since ■ 
most courts are right under fee rooms. 

Dodoino the Lizards ~ — 

My hosband and-I booked an hour of 
coart time one weekday, as well as an 
afternoon clinic. After chasing fee ball 
op and down in the broiling son, 
dodging fee little lizards that raced 
back and forth from fee baseline wife 
uncanny timing , we decided to skip fee 
c linic and go for a swim in fee bamtub- 
temperanire Gulf instead. That stretch 
of the coastline is both physically 
soothing and visually calm — few air- 
planes, no jet skis or motorboats chop- 


up tbe water. The hotel also has a 
;e pool adjacent to fee beach — a 
nice alternative, not least for the chance 
to chat with other parents. 

Besides tennis, the hotel had a full 
program planned fra* children starting 
at age 3. The Kinder Karnp offered 
morning and afternoon sessions for 3- 
to 6-year-olds, wife activities like 
painting and beach walks. Our 6-year- 
old spent a pleasant afternoon there 
making a shark ’s-tooth necklace and 
communing with people her own age. 
For children 7 through 12, fee hotel has 
Kidding Around; with field trips to 
local attractions tike Gulf Coast World 
of Science. For 13- to 17-year-olds, 
there is something called the LBK FLA 
Club, described as “a menu of fun and 
slightly sophisticated activities which 
are based on input from fee teen- 
something set.” 

The Colony suites are equipped with 
kitchenettes so meals and snacks could 
be fixed for young children, or anyone 
else, at any hour. The two dining rooms, 
the Bistro and fee mare refined Colony 
Dining [Room, both offered high chairs 
and children’s menus, as do most of fee 
other restaurants in fee area. We did 
find, however, that eating breakfast in 
fee (fining room wife a 19-month-old 
baby. Was stressful; after one partic- 
ularly intense morning, our policy be- 
came cereal and toast in fee suite for fee 

children and a peaceful breakfast in the 
Bistro, wife the newspaper and a little 
guilt, for their parents. 

On a Sunday evening, we headed to a 
restaurant farther up the island called 
Moore’s Stoner Crab at 800 Broadway 
Street, tel: (941) 383-1748. Perched on 
fee water in fee oldest neighboifaood on 
Longboat Key, fee restaurant was per- 
fect far families, from fee kind waitress 
to fee cheerful grandparents, arms out- 
stretched for fee restless toddler, 
at the next table. And the light at 5:30 
was b eaudfuL During one ofmy sorties 

from fee table wife my sons, we strolled 

ont on the dock and admired the rosy 

§ olden glow on fee sailboats. Entrees- 
7.95 to $26.95. 

Peeking through fee sea-grape 
hedges, we discovered fee Mar Vista 
' ? rMd ««y Street, (941) 383- 
239 L It s another waterfront restaur- 
ant feat had wonderful grilled raahi- 
manias well as fee most reasonable 
cfelfettn s menu around. Entrees: 
$12.95 to $18.95 ($3 to $4 for chil- 
dren). 

Our days soon became routines of 


sun, swimming, a. meal here and there, 
the children's tennis clinic, and then 
more sun and swimming. Bedtime got 
earlier and earlier. For amusement, we 
woald hit Sl Arraands Circle, just over 
the bridge from Longboat Key and 
featuring a labyrinth of shops both use- 
ful (Sunglass Hut) and curious (Oh My 
Gauze, filled with muslin clothing). 

An urge for local culture drove us one 
day to the Mote Marine Aquarium, a 
short hep from the hotel toward Sarasota. 
Beneath a white-hot sun, we scrolled 
through fee exhibits, Which feature a 
touch tank filled with whelks, starfish, 
sea urchins and other mostly nonthreat- 
ening organisms, and a huge aquarium of 
sharks, barracudas and other nightinare- 
mducing species. The children loved 
every minute of iL I was fascinated by a 
tiny exhibit that described the inner 
wakings of the sea urchin, including the 
Aristotle's. lantern, a central body part 
1600 Ken Thompson Parkway, City Is- 
land, Sarasota; (800) 691-6683; $8, ages 
4 to 17 $6. 

A nother time we took our 6-year- 
old to the Pelican Man’s Bird 
Sanctuary, started by Dale 
Shields in 1981. There we saw Angie 
the talking crow (she seemed to be 
haying a quiet day), dozens of brown 
pelicans with missing wings and other 
injuries, herons, gulls and other birds 
all in need of shelter. This concept, 
which earned Shields a designation as 
one of President George Bush’s points 
of light, delighted our daughter. 1708 
Ken Thompson Parkway. City Island, 


Sarasota; (941) 388-4444;" Suggested 
donation.- $2, children $ 1. 

When the day came to pack up and 
head back to fee airport, wc were 
tanned, rested and not quite ready. We 
headed down to fee beach for one last 
morning swim. The Gulf was curling iu 
uttle waves the color of celadon, and 
the water was so clear that we could see 
schools of fish shooting along like sil- 
arrows. We floated, looking up at 
Jhe sky that heralded another perfect 
rcg di da y- We drove back to Tampa on 
a different route, along fee Sunshine 
Skyway bridge. 

■ T^£5? lon y Beach and Tennis Resort 
if at 1620 Gulf of Mexico Drive, Lortg- 
Florida. 34228; (941) 383- 
6464. fox (941) 383-7549. A one-bed- 
room suite feat sleeps four ranges from 

to w ^ off -season (May 27 
to Sept 2l)to $450 (Feb. 6 to Ap^W 
prices dip for most of January/ 


- i 
i 




i ! 

I : 


% 


1 


k 







X* 


'll 


/he 100-Mile M&M Stroll: Avoid the Roads With Numbers 


By William Borders 

Ncir York Times Service 



Juke is still pan Q f my life’s plan. But 
better to start out on a shorter coarse 
closer to home. 

So I drew a line on a map from Man- 
hattan to Lakeville and began to in- 

on JEast 57th slraet 1 ^ ur™ 1 Jugate bins and hotels as close to that was that on a trip like this wrong turns 
friend 's house in rh«» JUS" M 1 C0B,d find * Originally, I planned really, really matter, so it’s worth stop- 

P nfr»« ■ .. - norm- to StOD the first niohr in nnrth Vrwrtrnrc ping at every intersection and landmar k 

to study the map carefully. 

In Westchester County, I walked for 


EW YORK _ sure i, 

iwmedModd idea at fim — 


ing, you look on the map for big fat 
roads; I looked instead for the skinniest 
ones going the same direction. One early 
lesson was to avoid roads with numbers 
and go for the ones with names. Another 


this trip, the only equipment you'll really 
need is a credit card," and he was right.) 

And so I walked, day after day. "With 
nothing but your own thoughts?" a 
friend later asked incredulously. It was a 
good question, and it put me to won- 
dering just what indeed 1 had been think- 
ing about for all that time. 

For one thing, I thought a lot about 
time and space. A few weeks before I set 

But the appeal of this stranoe “*» to a mena s apanmem up two days on a trail over wnai used to be out, I went to a business meeting in 

estrian caper grew over time until 7m' n k ea V“°. bia University, where! spent . an aqueduct bringing water to New York Tairytown, which I had already decided 
sunny Sunday morning in Sentemh? 6 “VT 51 “S* 11 - City from the Croton Reservoir. The trail would be an overnight stop on my walk, 

there I was, striding ud Broadvra^™ ,. The availability of accommodations is now a long, skinny state park, with Riding to the meeting from Manhattan in 
way to Lakeville Connerri,~,,» in j 1 dl , ctaled length of each day’s walk, many fine views of the Hudson, which it a car took less than an hour.' As I rode, I 
walk ahead, -^“necucut, 10 days which ranged from 7 to 15 miles. For me, «-*- ~- J * * 

I guess I got the idea from readme “ * « qai '*- rigorous, so I was a bit 

nit A rmcc Pnn,. •• - 


hanan to a 

west comer of ConnectfcStlt wL*? S’ St ? p **** fi { st ni S ht ® aoi ^ h Yonkers, 
of 1 00 miles that I had made man? tl™ B v 1 11 ^ m . ed t0 ° far for first day 

by car or train: Why walk 110165 *k° ut 15 miles — so I walked four mi 


parallels, and easy access to such 19th- 

.EUMSiswvu.c.ucarmmmirfin . « century wonders as Washington Irving’s 

STOSfi siis saft? 

. SMSTAftiSS g»tK=iS 3 S 5 H 

• rrest days) ‘ ‘This is fo? S S t J ) ' IS . two I quickly learned that with a bit of map 
_■ ltt)J5Z£^£3SZZ y°. u can almost always find some 


A 


little road parallel to a busy road. Driv- 


LTHOUGH I crossed the Ap- 
palachian lYail once, south of 
Wingdale, I was never able to fit it 
into my itinerary, primarily because I 
wanted to spend nights in a bed, not a tent. 
(A backpacking friend of mine said, “ ‘Fbr 


ARTS GUIDE 


AUSTRIA 


Vienna 

Kunatforum, tel: ( 1 ) 533-2260. 
open daily. Continuing/ To Dec. 8: 
“Kunst und Wahn.” More than 350 
works showing the influence of 
madness on art, including repres- 
entations of mental hospitals and 
patients by Rubens, van Gogh, Dix 
and Kirch ner. 


BELGIUM 


: Antwerp 

. Hessen hu is, tel: (3) 206-0350, 
dosed Mondays. To March 29: 
. "Music for the Eyes: Textile from 
■“ the Peoples of Central Asia." More 

- than 500 Items— mostly textiles— 
document the life of the peoples in 
central Asia 

Ghent 

Musee dee Beaux-Arts, tel: (9) 
222-1703, dosed Mondays. Con- 
tinuing/ To Dec. 14: “Paris- 

- Bruxelles/ Bruxelles- Paris. "A con- 
frontation of French and Belgian 

' art In the second half of the 1 9th 
century. 

M BRITAIN 

London 

Barbican Art Gallery, tel: (171) 
638-8891, open daily. Continu- 
ing/ To Dec. 14: “James Ensor." 
The exhibition traces the 
Expressionist artist's 
ment. taking lhe late 1880s as a 
. turning point, when the artist pro- 
duced visionary landscapes and 
Expressionist works laced with re- 
ligious themes. . 

British Museum, tel: (171) 323- 
8525, open dafly. Continuing/ To 
Feb. 1: “Cartier.- 1000-1030. ".in- 
cludes creations in' Egyptian, In- 
dian, Chinese and Japanese 
styles. 

National Portrait Gallery, tel: 
:171) 306-0055, open daily. To 
-eb. 15: “Hyenas in Petticoats: 
Mary Wollstonecraft & Mary Shel- 
ey." The mother and her daughter, 
whose birth caused the former's 
Jeath, produced political treatises, 
sociological Action and travel wrft- 
ng. The exhibition examines their 
. ives and achievements through 
jortraits, engravings and 
v manuscripts. 

. loyal Academy of Arts, tel: (171) 
139-7438, open daily. Contfnu- 
ng / To Dec. 28: “Sensation: 
'oung British Artists from the Saat- 
hi Collection." Paintings, sculp- 
■jres. videos, photographs and 
eady-made objects by 40 young 
tntish artists. 





Wooden mask from Zaire, in Luxembourg exhibition. 


1 CANADA 


Montreal 

kiseum of Fine Arts, tel: (514) 
85-1600, closed Mondays. To 
an. ti: “George Segal." Features 

0 works created between 1957 
nd 1997 by the American sculptor 
»m 1 924). including some of the 
imoiis life-sized white-plaster fig- 
res modeled on everyday dty 
■pes. 

1 DENMARK 
Copenhagen 

Tdrupgaard Museum, tel: 39- 
4-11-83. dosed Mondays. Con- 
nuing/ To Jan. 4: "Frida Kahlo." 
lore than 3) paintings, by the 
exican artist (1910-1954). the 
ile of muralist Diego Rrvera. 


1 FRAN C~E~ 


4P|S 

rand Palais, tel: 01-44-13^17- 
T . dosed Tuesdays. Continuing/ 

0 Jan. 5: "Les Iberes." Sculp- 
res, ceramics and jewelry from 
e civilization that developed in 
ram from the 6th to the 1 st century 
C. 

• Jan. 12: "Prud'hon. 1758- 
123.” A retrospective of the works 
the French painter who perfec- 

1 19th-century Romanticism In 
in ting. 

Jan. 26: “Georges de U Tour. 
93-1552." The French pamter's 
■rks, plus copies ot paintings that 
ve disappeared, 
ititut du Monde Ana be, lei: 01- 
-51-38-38. dosed Mondays, 
tttinuing/ To Feb. 38: "Yemen: 
Pays de la Reme de Saba." An 

iteration into the nistory. culture 
d an ot Ybmen, dating back to 
*00 years B.C. 

i see Cemuschi, tel: Qi -45-63- 
•75. dosed Mondays. Continu- 
ll To Jan. 4: “Pierres cfimmor- 
te." Mora than 100 Owing 
e pieces dating back to the 1 5th 
ltury. 

tit Palais, tel: 01 -42-65-1 2-73, 
sed Mondays. Continuing/ to 
i. J5 "Marianne fit Germania. 
19-1889: Un &ede de Passions 
nco-AUemandes." Documents 
history of Franco-German 
deal and cultural relations. 


roofs of Paris seen through lhe 
French artist's window. 

Frankfurt 

Schlm Kunsthalle Frankfurt, tel: 
(69) 299-882-0. dosed Mondays. 
To March 1 : "Between Heaven and 
Earth." icons and illuminated 
manuscripts dating from the 14th 
to the 16 th centuries, on loan from 
state museums in Moscow. The 
exhibition will travel to London. 

Munich 

Kunsthalle der Hypo-Kufturstif- 
tung, tel: (89) 22-44-12, open 
daily. Contlnulng/To Jan. 11 : "Co- 
bra." Documents the work of the 
International art group whose 
members tried to revive Expres- 
sionism. 

Stuttgart 

Staatsgalerie, tel: (711) 212- 
4050, dosed Mondays. Continu- 
ing/ To Jan. 11: “Johann Heinrich 1 
FussJi: Das Verlorene Paracfies." 
Features, among others, a series 
of 40 paintings illustrating Milton's 
"Paradise Lost" by the Swlss-bom 
artist (1741-1825). 


changed under French and Aus- 
trian occupation, during the 19th 
century. 

lL»H 

Banque Generate du Luxem- 
bourg, tel: (352) 42 42 26 74, 
dosed Saturdays. Continuing/ To 
Dec. 7: "L'Autre Visage: Masques 
Africalns de la Collection Bartxer- 
Muefler." More than 50 African 
masks used during initiation rituals 
or in secret ceremonies. 

^NETHERLANDS 

Anstbhmh 

Rijksmuseum, tel: (20) 673-2121 , 
open daily. To Jan. 18: “The Haus- 
buch and its Master." A 15th-cen- 
tury book Illustrating court fife in the 
late Midcfle Ages by the engraver 
called the Master ot Amsterdam. 
Also, to March 3: “On Country 
Roads and Fields." A tribute to 
landscape art by 18th and 19th- 
century painters, such as 


GREECE 


Thessaloniki 
Museum of Byzantine Culture, 
tel: (31 ) 86-65-70, open daily. Con- 
tinuing/ To Dec. 31 : “Treasures of 
Mount Athos." Paintings, icons, 
manuscripts and consecrated ves- 
sels from the monasteries. 


ISRAEL 


Jerusalem 

The Israel Museum, tel: (2) 670- 
8811. open daily. Continuing/ To 
Dec. 30: “Harold Edgerton: In a 
Flash." Works by the inventor of 
stroboscopic photography. 


ITALY 


RMANT 


i Guggenheim, tel: (30) 
4. open d3ily- Conjmu- 
3n. 4: "Visions Ot P*m? : 
Haunay's Senes." Highly 

ewsoftheSaint-Seyonn 

to Eiffel Tower and me 


Florence 

Palazzo PM, »l: (55) 213440. 
dosed Mondays. CofiSfMng/ To 
Jan. 6: "The Magnrfioence of the 
Medici Court." Art In Florence m 
the late 16 th century. 

Royal Palace, tel: (39) 2375-401. 
dosed Mondays. Continuing/To 
Feb. i: "The Maya of Copan: The 

Athens of Central America. May- 
an pottery, tools, wall mosates, 
jewelry and anthropomorphic fig- 
ures. 

Venice 

Confer Museum and D °g®* 

fSS, «i : . <*&**&*%: 

daily. Continuing/ T « 

-From the Doges to the Emper- 
ors," Documents how Venice lived 
In the last days of the Republic until 
£ ran 1797* and how the city 


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was thinking that walking it later that 
month would take two days. 

On my third full day, somewhere near 
Ossining, a local bus passed me heading 
south. Its destination, I read on the from, 
was the 242d Street subway station in the 
Bronx. It was son of dispiriting to realize 
that after three days I was still within 
striking distance of the subway. 

Another thing I thought about as I 
walked is that it wasn't so very long ago 


that walking and riding horses were the 
only ways to get around this region, on 
these same roads. And thax made me 
think how isolated these little hamlets, 
and the people in them, used to be before 
there were cars. I was getting their sense 
of these distances. 

All along my route. I saw signs of 
these early settlers in houses and ancient 
stone walls. I stopped awhile in half a 
dozen cemeteries where it is not at all 
hard to find a grave from 1790 or 1810. 
And when you do, it is intriguing to 
wonder what the people then thought 
about their new United Stales of Amer- 
ica, and what they would think of it 
now. 

I also had some surprises about places 
I thought I knew. In common with many 
New Yorkers, I had zipped through Van 
Cortlandt Park in the Bronx hundreds of 
times; it is crossed by three major high- 
ways. But until I walked through it, I had 
no idea that the northern half of the park 
is dense woods with a completely rural 
feel. 


Similarly, I had seen Sing Sing in 
Ossining from the train lots of times. But 
it was only in walking its perimeter 
(which I had -to do to get to the other 
side of town) that I realized bow huge this 
prison is, how forbidding and bow sad. 

gentle hills Mostly, though, the walk 
was remaikably beautiful — gentle hills, 

f ileasant farmland and meadows. For at 
east three-fourths of the route, the 
scenery was as appealing as the English 
countryside, and reminiscent of it. 

When I finally got to die end of it all, 
in Lakeville, 1 basked for a couple of 
days in the polite adulation of my 
friends. And then I took the train back to 
Manhattan It took a couple of hours, 
compared with 10 days, and cost $9.50, 
compared with about $1 ,000. 

I still liked my trip north much better 
than my trip south. But when I got to . 
Grand Central Station, which is a short, 
easy walk from my apartment in 
midtown. I took a taxi the rest of the way 
home. 


MOVIE GUIDE 


Koektoek, Weissenbruch, Mauve, 
van Goj#i and Mondrian. Features 
visions of Italy, romantic depictions 
of Germany and pastoral scenes in 
the Netherlands. 

1 UNITED STATES 

Boston 

Museum of Fine Art, tel: (617) 
267-9300. open daily. Continu- 
ing/To Jan. 4: "Picasso: The Early 
Years, 1892-1906." Drawings, 
paintings, pastels, prints and 
sculpture created by the Spanish 
artist between the ages of 11 and 
25 prior to the advent of Cubism. 

New York 

Metropolitan Museum of Art, tel: 
(212) 570-3791, dosed Mondays. 
Continuing/ To Jan. 11: The 
Private Collection of Edgar De- 
gas." Documents the French 
painter's activities as a collector. 
Museo del Barrio, tel: (21 2) 831- 
7272, dosed Mondays and Tues- 
days. To March 29: ‘Taino: Pre- 
Columbian Art and Culture From 
the Caribbean." A couple of cen- 
turies before Columbus landed on 
Hispaniola, the dominant TaJno 
people had developed a distinctive 
art, although their rituals remain a 
mystery. The exhibition brings to- 
gether artifacts, ritual instuments 
and amulets. 

Solomon R. Guggenheim Mu- 
seum, tel: (212) 423-3840, dosed 
Thursdays. Continuing/To Jan. 7: 
"Robert Rauschenberg: A Retro- 
spective." A chronological 
presentation of the paintings and 
sculptures of the American artist 
(1925-1997). 

Washington 

National Gallery of Art, tel: (202) 
737-4215, open daily. To March 15: 
"Manet and the Impressionists at 
Gars Saint-Lazare." Focusing 
around the Paris railway station 
painted by Manet, the exhibition 
demonstrates how the station, with 
its iron bridges and steam entries 
also triggered other painters' cre- 
ativity. including Monet and Callle- 
botte The exhibition wfll travel to 
Paris. 

CLOSING SOON 


Nov. 29: "A. G. Rtaofi: Architect of 
Magnificent Visions. " High Mu- 
seum of Art, Atlanta. 

Nov. 30: 'British Watercolours from 
the Oppe Collection." Tate Gal- 
lery, London. 

Nov. 30: “PointiBIsmus: Auf den 
Spuren von Georges Seurat." 
WMIrtrf-Richaiiz-Museum, Co- 
logne. 

Nov. 30: "Max Beckmann: Die 
Nacht” Kunstsamml ung Nord- 
rhein-Westfalen, Dussekforf. 
Nov. 30: “Modem Ait in Portugal." 
Schim Kunsthalle, Frankfurt. 
Nov. 30: "The Spirit of the Place." 
Paintings from the Thyssen- 
Bomemisza collection In Madrid. 
Frick Collection, New York. 

Nov. 30: "Masters of Light: Dutch 
Painters in Utrecht During the 
Golden Age." ILH. de Young Me- 
morial Museum, Sah Francisco. 
Nov. 30: "Mondrian: Nature to Ab- 
straction." Tate Gallery, London. 
Nov. 30: "Megatron/Matrix." In- 
stallation by Nam June Paik. Na- 
trona] Museum of American Art, 
Washington. 

Nov. 30: “Masterpieces of Western 
Oil Painting from the Tokyo Fuji Art 
Museum.” Hong Kong Museum 
of Art, Hong Kohg. 


Kiss the Gibls 

Directed by Gary Fleder. US. 

If you enjoyed "Silence of the Lambs" 
and' ‘Seven,’’ Paramount Pictures has an 
offer fbr you: Both movies fbr the price 
of one. OJC, if you want to get technical, 
"Kiss the Girls" has nothing to do with 
either dr ama. But as forensic psychol- 
ogist Dr. Alex Cross, Morgan Freeman is 
nary a shade different from the veteran 
detective be played in "Seven." In his 
quest to solve the disappearances of sev- 
eral women, Alex could cut many 
comers by contacting FBI Agent Starling 
from "Silence of the Lambs. "She could 
tell him a thing or two about psycho- 
logically troubled men who capture 
young women and stash them in dun- 
geons. Alex, a detective and psychologist 
stationed in Washington, flies to 
Durham, North Carolina, when he learns 
his niece, Naomi, has disappeared from a 
college campus, and it seems she is just 
one of several women who have been 
apprehended by an as sailan t who calls 
himself Casanova. Seven are missin g, 
two have been found dead. Gradually, 
Alex's patient accumulation of clues and 
superior instincts push him ahead of the 
Special Task Force Office. And in Dr. 
Kale McTieman (Ashley Judd), a tough- 
spirited doctor who escaped from Cas- 
anova’s lair, he finds a formidable ally. 
The movie operates on the crime-movie 
equivalent of automatic pilot It takes off, 
flies and lands without much creative 
intervention. However, director Gary 
Fleder (who did "Things to Do in Den- 
ver When You're Dead ") is a competent 
air traffic controller. But unless you 



Freeman in “Kiss the Girls. 


missed "Silence of the Lambs" and 
"Seven," there isn't much reason to 
watch this. (Desson Howe. WPi 

Martin Hache 

Directed by Adolfo Aristarain . Spain- 
Argentina. 

Tms story is based on probing conver- 
sation. on credible scenes in Madrid and 
Buenos Aires, and on two dominating 
actors who portray an embittered, distant 
father (Federico Luppi) and his hopeful, 
19-year-old son (Juan Diego Botto), who 
is lost and seeks direction. They bring to 
life the deep bonds between Spain and 
Argentina and between a successful 
movie director father and his talented son 
who almost dies from a drug overdose. 
But to enjoy their often exquisite dialogue 
in the film with little action, one must also 


accept two big problems, namely the two 
other main characters, lhe most annoy- 
ing is the actor Eusebio Pbncela. He 
portrays the father's best friend, and al- 
though his first scenes indicate an actor 
with great presence, he soon shows lim- 
ited versatility, repeating almost ma- 
chine-like the same tone and gestures 
throughout the film, which makes it seem 
very long. The other problem is the fa- 
ther's mistress. Cecilia Roth handles the 
part adequately as a 40ish woman hope- 
lessly stuck on her much older lover, but 
tiie script gives her character very little 
substance. The result is a lot of distracting 
interference with the main, father-son 
relationship. ( Al Goodman. IHT) 

Starship Troopers 

Directed by Paul Verhoeven. US. 
"Starship Troopers" follows the esca- 
lating hostilities between the galaxy's 
two dumbest species — bugs and fash- 
ion models. Unfortunately, the battle of 
the bugs doesn't even begin until half 
way through this squishy, senseless, pu- 
trescent romp. The bugs are the only 
reason to see this monster mash: spore- 
spouting blaster beetles, barnstorming 
dragonflies, "brain" - slugs on steroids 
and copious swarms of bloodthirsty 14- 
foot arachnids like armored tanks. For 
heaven only knows what reason, the 
outsize insects are bent on destroying 
humankind and only Doogie Howser 
and the cast of "Beverly Hills, 90210" 
can stop them. It’s exactly like “Star 
Wars” — if you subtract a good story, 
sympathetic characters, intelligence, wit 
and moral purpose. (Rita Kempley, WP j 



Find the best 
restaurant 
in town. 


Here is your chance to win the Nokia 9000i 
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a phone, fax, e-mail, calendar and the Internet For 
the second prize you could win the naturally-shaped 
Nokia 8110i. 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 Tuesday and 
Friday over the five week period. If you miss a city, 
catch up. on the competition Web site at 
www.iht.com. You can participate until January 19, 

1998. 

bktMdJkgatauonK 

1- Eme idu 9 tr nrCTiM "OliW tta>i£rvEf, 1% 1991 

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JS Into w wripi 

&■ Mi mMfeentMfwr ro pr,» 

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■" FtWmr* ||, 199& 

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8- The Puttehc racft-Mur ityn kn hu. abMinr daoruoD !0^*quatff aryoory mvirVxic 
0 la njD m trie who el ruem n anm ajpafc opt gyruoi nmctv. m Hanoi 

i> fcottr io onrrt 0* myrabar »t ww sage 

To emu. |un nw ehe pom am nd ml m D 


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, 1 998, 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 


,-^NIC^, 



Mlhai is the capital of GERMANY? Name 


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Tel 


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PAGE 14 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


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O n Dec. 5, as part of ah important book and manuscript auction, 
Christies New York will offer a unique consi gnm ent from 
The New York Times — the last black and white front page 
to come off the presses on Oct. 15, 1997, along with a copy of the following 
day’s first four-color front page and the only esdstmg metal plates used 
in their production. Lot 254, consigned by The New York Times, will be 
auctioned in the company of collectibles such as the first commercially 
printed Christmas card, the original manuscript of Clement Clarke 
Moore’s A Visit From St. Nicholas (“‘Twas the night before Christmas ...") 
*and a famous Civil War condolence letter from Abraham Lincoln. 


Sire Jfelir jjjhrk 


The New York Times lot, which will be sold without reserve, is 
fully authenticated and mounted for display. Proceeds of the sale will 
benefit The New York Times Neediest Cases Fund, which celebrates it 
86th year of raising money for New York City social service agencies. 

This historic lot, as well as other books and manuscripts from th 
Dec. 5 auction, will be on view at Christies New York, 502-Park 
Avenue, from Nov. 29-Dec. 4. For information on the sale, please call 

Christie’s Book Department at (212) 546-1195. To order a sale catalog 
call 1 -(7 18)748-1480 



EXPECT THE WORLD” 


WWW.NYTIMES.COM 


CHRISTIE’S 

Principal Auction era. Christopher Burge 476154) 










Itcml b 3 K Srihimt 

BUSINESS/FINANCE 


FRIDAY, NOVEMBER 28, 1997 


PAGE 15 


U.S.-Malaysian Standoff 
Stulls a Global Trade Pact 

Negotiators See Risk to Financial-Service Talks 


By Anne Swardson 

Washington p a „ Service 






GENEVA — International negotiat- 
ors struggling here to meet a Dec 12 
deadline for agreement on a global 
open-trade pact in banking, insurance 
and other financial services are worried 
that U.S. intransigence may be the 
toughest obstacle to a new accord. 

In particular, participants fear that 
U.S. negotiators appear to be prepared 
,to risk the entire pact in a showdown 
f with the government of Malaysia over 
American ownership of insurance 
companies there. 

The issue has bedeviled these ne- 
gotiations for much of the decade, and 
officials of the World Trade Organi- 
zation and other nations wonder why 
given the relatively few people who are 
affected by the dispute. 

The negotiations are aimed at freeing 
trade in financial services. In the 1990s, 
countries have removed many tariffs 
and other barriers to the international 
exchange of goods, but they have done 
little to make it easier to free .the in- 
ternational operations of banks, brokers 
and insurance companies that underlie 
those exchanges. 

Financial-services markets in the 
United States and Europe are fairly open 
to foreign firms doing business inside 
their, borders, but economies of East 
Asia are more protective. 

If those countries can be persuaded to 
open their doors. Western companies 
could reap billions of dollars in new 
business. If negotiators fail, analysts 
said, the current turmoil in Asian mar- 
kets could worsen. 

The negotiations have a number of 
sticking points, but perhaps the most 
difficult is the insistence by U.S. ne- 
gotiators that American insurance 
companies be exempted from a Malay- 
sian law requiring that they sell portions 
of their Malaysian operations to do- 
mestic interests. 

Malaysian law requires that foreign 
companies own no more than 30 per- 
cent of a domestically incorporated 
business. 

In the negotiations in Geneva, Malay- 
sia has offered to raise the limit to 51 
percent, so that the foreign companies 
could retain control. 

The deputy U.S. trade representative, 
Jeffrey Lang, said in an interview that 
the forced -divestiture policy presented 
“a difficult problem, not oily from the 
point of view of forcing Americans 
to sell assets, perhaps at fire-sale 
prices.’' 

“There’s also a policy problem for 
us," he said, "because we don’t like to 
get the WTO in the position of sanc- 
tioning forced divestitures. It’s incon- 
sistent with our idea of what the WTO 
should stand for." 

European countries are willing ip 
abide by the divestiture law and their 
companies have already given up con- 
trol of their Malaysian operations. 

Negotiators from other countries and 
- officials at the World Trade Organi- 

f zation secretariat, who spoke on con- 
dition of anonymity, said that American 
negotiators were being pushed by the 
U.S. Treasury Department and the Of- 
fice of the U.S. Trade Representative at 
the behest of Maurice (Hank) Green- 
berg, chairman of American Interna- 
tional Group Inc., in New York, which 
wholly owns a large subsidiary in 
Malaysia. 

"It is incredible what could be 
thrown away on one side to satisfy Hank 
Greenberg on the other side," a WTO 
official in Geneva said. 

.American International and Mr. 
Greenberg declined to comment on 
these allegations. . 

But Mr. Greenberg has said publicly 
that he wants to retain 1 00 percent 
American ownership of his company s 
■Malaysian operations. 

; In a recent letter to the Joamal or 
i Commerce he wrote. "The goal of the 
WTO negotiations is to bring about ub- 
iralization, not contraction pf financial 
icrvices in world markets.” 

Mr. l -m g declined to respond to the 
.^legation about Mr. Greenberg. But, he 
said. "It is not a problem of one com- 
pany.” Air. Lang also said that forced 
divestiture “is not more imponant tnan 
other important issues.” and pointed 


out that this round of negotiations was at 
an early stage. 

Many Asian countries have not yet 
submitted formal offers. 

The Malaysian delegation did not re- 
spond to requests for comment. 

In late June 1 995, an earlier attempt at 
reaching an accord on financial services 
fell apart when the United States failed 
to sign on at the last minute. 

A month later other countries agreed 
on a provisional accord, and since then 
they have put in place more liberal re- 
gimes. 

But they are conditional on a final 
agreement being reached. The 130-plus 
countries involved in the talks have set 
the December deadline for a compro- 
mise. 

Pointing out that another round of 
talks on financial services is scheduled 
for 2000, a European negotiator said: 
"It's better to get a deal that locks in 
whatever level of market liberalization, 
it might be, knowing another round is 
coming op.” 

That is especially true given the cur- 
rent financial turmoil in Asia, the ne- 
gotiator said. "If we manage to get an 
agreement, that wiH build up a lot of 
stability in the system. If we don’t get a 
deal, it could affect any chance of get- 
ting ourselves out of the crisis in the 
future.” 



Tokyo’s Remedies Lift 
Stocks but Little Else 

Big Cash Injection Doesn 9 t Assuage Investors 


A trader taking the long view on Tokyo stock quotes Thursday as the 
benchmark index posted a 3-5 percent rise, its fifth-strongest of the year. 


Reading Between Lines in Vancouver 

Implied Message to Asia: Let Free Markets Work, and Well Do the Rest 


By Peter Passell 

New York Times Service 


NEW YORK — While the pro- 
nouncements from the Pacific summit 
meeting in Vancouver were short on 
substance, the subtext was clear 
enough: If the ailing Asian tigers are 
prepared to let free markets work their 
healing wonders, the industrial powers 
will do what is necessary to prevent 
collateral damage. 

That message is certainly reassuring, 
and seemingly credible: Compared 
with, say, Latin America in 1982 or 
Eastern Europe in 1991, Asia is in de- 
cent shdjpe. 

But.it is ferfrom clear that the folks 
who make the rales will do their part in 
smoothing die road back to rapid 
growth. Indeed, there may be reasons to 
doubt they will show the policy sense 
and political strength to prevent the 
cri sis fro m deepening. 

CHINA: Thailand, Indonesia, 
Malaysia and South Korea are all count- 
ing on currency depreciation to invig- 
orate their exports and service foreign 
debts. But increased foreign sales are 
likely to come at die expense of Chinese 
exports because China’s currency, the 
yuan, has appreciated 25 percent against 
the dollar since 1994. If China responds 
by devaluing die yuan, it could set off 
another wave of currency instability. 

China still has some leeway. With 
$130 billion in reserves, little short-term 
debt to foreigners and currency -con- 
version restrictions that inhibit capital 
flight, speculators cannot force Beijing 
to devalue. 

But sooner or later, Chinese leaders 
will have to let the yuan fall. 



WJd Hyming/lllr Wrbwd IWm 

Watching stocks Thursday in Seoul. 


‘ ‘C hina ’s underlying problems — an 
overvalued currency and an insolvent- 
banking system — are exactly the same 
as Korea’s and Thailand’s,” says Nick 
Lardy, an economist at the Brookings 
Institution. 

JAPAN: Unlike the rest of Asia, Ja- 
pan is a net creditor to die world with big 

ECONOMIC SCENE 

trade and curren t-account surpluses — 
and thus needs no external help to solve 
its financial crisis. )3ut thus for, Japan 
has shown little will to dig its way out by 
paying off depositors in insolvent banks 
or by forcing hundreds of deeply trou- 
bled companies" into bankruptcy. 

Nor does the government seem in- 
clined to try a dose of Keynesian fiscal 
stimulus, for fear of running a bigger 
budget deficit As a result, there is little 
prospect that Japan will escape another 
recession. 

tens of billions of dolbralo financial 
institutions elsewhere in Asia when its 
government cannot manage a domestic 
financial fix? Would a depressed Jap- 
anese economy be in any position to 
absorb more exports from South Korea, 
China and Southeast Asia? Who's kid- 
ding whom? 

UNITED STATES: The Interna- 
tional Monetary Fund will have to come 
up with at least $20 billion — most 
likely, two or three times that amount — 
to allow South Korea to convert its 
short-term foreign currency debts into 
manageable long-term debt. 

But after financial rescues in Thai- 
land, Indonesia and the Philippines, the 
cupboard is no longer well stocked, and 
Washington is showing no signs of re- 
newed generosity. “Congress refused 
to bafl out the “crooks’ in Indonesia,” 
said John Makin. a senior fellow in the 
American Enterprise Institute's Asian 
studies program. ‘ * Why would they bail 
out the ‘crooks’ in Korea?” 

Unlike Japan, the United States is in 
a position to buy the surplus consumer 
gtiods spewing out of Asia. Cheaper 
imports, in fact, are just what the doc- 
tor might have ordered for the U.S. 
economy to prevent it from overheat- 
ing. 

But what is good for America is not 
necessarily good for General Motors — 
or any of the other U.S. companies and 
industries that must compete with im- 
ports. And after President Bill Clinton’s 
recent failure to get legislation approved 
that would have given him enhanced 
authority to negotiate trade agreements. 


it is a safe bet that Congress would 
counter a ballooning U.S. trade deficit 
with protectionism. 

IMF: On paper the International 
Monetary Fund is a creature of the ma- 
jor economic powers; in practice, its* 
bureaucracy runs the show. In the case 
of Asia, that authority could prove coun- 
terproductive. 

Long used to dealing with basket- 
case economies that have low savings 
rates and little fiscal or monetary dis- 
cipline, the Fund is demanding a bal- 
anced budget and high interest rates as 
the price of assistance in refinancing 
Asia's external debts. 

See ECONOMY, Page 19 


By Velisarios Kattoulas 

Imermnionui Hem Id Tribune 

TOKYO — Japan moved to shore up 
confidence in its battered financial sys- 
tem Thursday but had only limited suc- 
cess. 

The central bank injected about $4 
billion into the banking system, the Fi- 
nance Ministry vowed to do everything 
possible to prevent further turmoil, and 
Prime Minister Ryutaro Hashimoio 
hinted that public money would soon be 
used to protect depositors and ro buoy 
the financial system. 

On the heels of those moves. Tokyo 
share prices posted their fifth-strongest 
rally of the year, with the benchmark 
Nikkei 225-stock index closing up 3.48 
percent Thursday, at 16,603.20 points. 
But foreign and domestic investors con- 
tinued to sell bank shares, increase the 
cost of loans to Japanese financial in- 
stitutions and sell yen for dollars. 

Continuing unease among investors 
hi g hli g hted die difficulties the financial 
authorities face in restoring confidence in 
the finan cial system, which has suffered 
the collapse of four institutions in 
November and is plagued by bad debts. 

“Credibility is a long time in the mak- 
ing, easily lost and, once lost, extremely 
difficult to rebuild.” said Neil Rogers, a 
strategist at UBS Securities in Tokyo. 
"The big problem is that the authorities 
will not be able to fix the financial system 
until they fix their own credibility." 

The Finance Ministry and the Bank of 
Japan have come under attack over the 
collapse of the four financial institu- 
tions, including the closure Monday of 
the fourth- largest brokerage, Yamaichi 
Securities Co., the biggest Japanese 
bankruptcy ever. 

For the first time since July 1995, the 
Bank of Japan lent 300 billion yen ($2.35 
billion) directly to banks at the discount 
rate, which is 0.5 percent It also injected 
200 billion yen more into the financial 
sector by purchasing short-term bills. 

As pressure on the Japanese financial 
system has mounted over the past 
month. Mr. Hashimoto watched from 
the sidelines, shying away from spend- 
ing public money to subsidize foiling 
financial companies. The prime min- 
ister is reluctant to use government 
funds because of a pledge he made to cut 
Japan’s giant spending deficit and be- 
cause of the public outrage last year 


following the public bailout of seven 
bankrupt mongage lenders. 

Bui mounting fears of a crisis, in 
which healthy financial institutions are 
driven to the wall as investors panic, 
appear to have changed his mind. 

"1 am thinking very seriously about 
ways ro use public funds without con- 
tradicting our fiscal reform policy," he 
said in Ottawa. He returns Thursday to 
Tokyo. 

Mr. Hashimoio said he would con- 
sider using public funds only io stabilize 
the financial system and to protect de- 
positors and investors, rather than to boil 

Hashimoio said he would 
consider using public 
funds to stabilize the 
financial system. 

out bankrupt institutions as he did last 
year. To voters, that is likely to prove an 
important distinction because it would 
mean inept managers at bankrupt 
companies would lose their jobs. 

"It will be a very close policy call, but 
we will find a way.” to use public funds, 
he said. “*1 am thinking about it. the 
Ministry of Finance is thinking about it 
and my Liberal Democratic Party is 
thinking about it — very seriously.” 

Nonetheless, investors remained jit- 
tery over the health of the banking sec- 
tor and continued to sell shares in fi- 
nancial institutions as rumors swirled 
about whether more might soon be 
forced into bankruptcy. 

Foreign and domestic lenders to Jap- 
anese financial institutions grew more 
cautious as well, pushing the key 
overnight rate at which banks lend to 
each outer os high as 0.75 percent before 
falling back later. 

The “Japan premium” — the extra 
cost Japanese h anks are having to pay to 
raise funds overseas — widened to 0.94 
percentage point from around 0.84 per- 
centage point Wednesday. 

The dollar slipped to 126.930 yen. 
from 127.020 yen Wednesday, after 
rising earlier in Japan on continual con- 
cerns about the banking sector there. 

In a reflection of the human cost of the 
financial turmoil, an employee at a small 
brokerage affiliated with Y amaichi leapt 
to his death from a building in Osaka. 


Europeans’ Support for Euro Drops Below 50% 


Agence France-Preae 

BRUSSELS — Support 
for a single currency among 
European Union citizens has 
dropped below 50 percent for 
foe first time since their gov- 
ernments committed them- 
selves to monetary union in 
foe Maastricht treaty, a poll 
released Thursday showed. 

But support for foe euro, 
now running at an average of 
47 percent across foe 15 EU 
states, is still stronger than foe 
opposition, at 40 percent, ac- 
cording to polling conducted 
by foe European Commission 
in foe first half of this year. 

Despite their opposition, 
three in four EU citizens ex- 
pect monetary union to go 
ahead on schedule on Jan. 1, 
1999, a 9 percent increase 
from a year earlier. 

Since the Maastricht treaty 
was written in 1992, backing 
for what will be foe biggest 
single step toward European 
integration has varied only 
slightly in a 51 percent to 53 
percent range. 

But opposition appears to 
have hardened with die ap- 


proach of the single currency 
and increasing awareness of 
foe changes it will bring. 

About 52 percent of those 
polled cited the end of their 
nati onal currency among 
their fears and concerns. 

Ironically, foe only two 
countries that registered an 
increase in support for foe 
euro over the last year were 
Denmark (32 percent for, 54 
against) and Sweden (33 per- 
cent for, 53 percent against), 
which have both said they 
will not join foe single cur- 
rency bloc in 1999. 

Backers of monetary union 
are also in foe minority in 
Austria, Germany, Finland 
and Britain. 

About 32 percent of Ger- 
mans expressed support for 
giving up the Deutsche mark, 
while 54 percent were op- 
posed. Only Finns (29 per- 
cent for, 62 against) and Bri- 
tons (26 percent for, 61 
percent against! were more 
skeptical. Britain has said it 
will not join the common cur- 
rency at from the start. 

Italians are the EU’s most 


ardent euro enthusiasts; 74 
percent are hoping for the im- 
.minent demise of the lira. 

Euro supporters outnumber 
doubters in Luxembourg, 
Greece, Ireland, Spain, Bel- 
gium, France, foe Netherlands 
and Portugal. 

■ A ‘Wise Man’ Speaks 

The economic tests for 
joining Europe's planned 
common currency should take 
precedence over the timeta- 
ble, a member of the German 
government’s council of eco- 
nomic advisers said Thursday, 
Bloomberg News reported 
from Wiesbaden, Germany. 

“In case of conflict" about 
convergence, “the fulfillment 
of the criteria should take pre- 
cedence over foe timetable,” 


said Rolf Peffekoven, one of 
foe so-called five wise men 
who advise the government 
about its economic policy. He 
was speaking at a discussion 
sponsored by a local insur- 
ance company. 

Countries adopting foe 
euro will be selected on the 
basis of economic perfor- 
mance, which includes cut- 
ting budget deficits to 3 per- 
cent of gross domestic 
product and overall debt to 60 
percent of GDP. They also 
need to meet goals on infla- 
tion, currency stability and 
long-term interest rates. 

Mr. Peffekoven said it was 
“‘not fitting” that countries 
try to meet the tests through 
“technical redefinitions and 
creative bookkeeping.” 


CURRENCY & INTEREST RATES 


Sross Rates 


Not. 27 


Imtontam 

Inmate 

VmMurt 
«Mm (ol 
Aodrtd 
4 Hm 

IWYMfttU 

Wb 

skin 

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ecu 

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mow 

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in ii27 
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— 5J3 

III?? * 12371 


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dosed 

— unr iw” mu 

21J7 Ott? 

am: omm* MW* , - B07 
i am 


UBS" 

JUI' 

I.U3T 

Wit 


Libid-Ubor Rates 

SHtas 


French 


Nov.Z7 

Donor D-Mark 

Prone 

Steffen 

Franc 

Ym 

ECU 

1-montH 5ft 6 3tt-3fo 

1ft -1ft 7ft - 7ft 



4H-4V5 

3-awniti 5ft- 5ft 3ft - 3ft 

lte-lft 7ft - 7ft 3ft - 3ft 

te-1 

4ft. 4ft 

a-monttr 5ft- 5ft 3*- 3ft 

lte-2 

7ft - 7ft 3* - 3ft 

fo-1 

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1-year 5ft-5ft 4-4M 

1ft. 2V4 

714.7*11 

3ft -4ft 

14-1 

4ft ■ 4ft 


11*22 U13J8 11-59* 


Sources: Realm, Uoytts Bank. __ 

Rates appBcaUte to tnarbank deposits at SI m ttton mtntmum (oreqotnleaO. 


1UX 4-4514" 41444 


Wffl* 

08HS 

aw 

IW 

1J7J33 


1JUB2 30.173 


1.1277* — 

n»ia 197" — ■ 11221' MW 
7.15 **67 MW 1«W MW 

•jam liWI 4 MS 

— — iijm DmKnni Zurich fMW 6 to attiercenters: New York and 

erasings in Aimrraxur. London MJafl Ports 

’enmnntaar3P. V r -wu* of tat NO.-net MA--notmrommn 

a To bey one pound, b. To W one doffae 1/009 « 


Key Money Rates 


)ther Dollar Values 
CvnW 
Gre*k*«- 
Hong Kong S 7 . 72 W 


P*f» 
ifwt.pcw 0W« 
iKSuUsflS 1 4*03 
wnonuft. wan* 

Mlml 1.1098 
foam yuan 63 1 
whfom* 337? 
wfcfelMM «JS3 
WOLpomd 3J&45 
m.awwm 

onward Rates 


Him*, far W 
Indian rupee 
lirto-mptoh 

imbc 

iwoeiiiMk- 

KuwdifiV 
Matey, riaff- 


NMS»WM| 
mum Mi«r 
whcfoiiwl 


MMfeV 

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197.05 

3157 

36460 

06741 

35381 

05033 

350 


9 MB f 

16647 
14170 
I 7475 


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N. Zealand I 

Nam. krone 

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paHsnztetr 

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P«S 

U24 

14168 

7.1669 

3455 

353 

17957 

S0UO 

3.7505 

1503 


CWTHKT 
S. Afr. rand 
S, K«. won 

aniww 

TtfcWflS 

TbflibaM 

TMkbbSn 

UAEdfrtMBl 

tfuaubsAi* 


OffKKV 
Japanese Y«* 
swfnfraK 


SMOY 

126.72 

MI6Q 


4MBT 

176.02 

1.4155 


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4JS58 

111950 

76968 

3259 

39.40 

191710. 

1671 

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12445 

1.4150 


5 «kk urn Bant ,M 

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muaiTxMs}. /«- .W**- 


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DisceMtrsfe 
Prim* tote 
PedantUomb 
KUlay CDs denten 
WUtay CP Heaters 
3Hnonfh Treasury bffl 
l -year Treasury bffl 
T-yeor TreoMryMB 
5 ^mt Treasury note 
7-ywir Treasury ante 
llyatfTraHisnr note 

36-yaai Tnawry bead 
MerrOI Lynch 30-tfay RA 

jaftaa 

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34Miitti Marta* 
«-naDtti btertwr* 

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Lombard rate 
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HlWilli Interbank 
totertm* 

mooli? mtefUanO 
1 0 -year Bind 


Close 

SJ» 

m 

did. 


050 

059 

065 

066 
071 
1.99 

450 

365 

3.75 

075 

358 

550 


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560 

568 

5.19 

5.72 

5.79 

552 

5JB5 

605 

5.10 

050 

064 

065 

066 
071 
1.95 


450 

145 

355 

179 

188 

647 


Britain 

Mnk Dose rate 
Can manor 
l-mmtfi IntHfaOflk 
3-iaontH tatertxmfc 
6 mourn Interim* 
unman 


intenmnaa rate 
cm money 
l-maalti interbank 


i Interban k 
lO-ymOAT 


716 

TVs 

7W* 

nt 

7* 

656 


130 

3V* 

3ft 

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» 

550 


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7ft 

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652 


130 

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147 


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Lynch, Bonk of Tekya-MItiublibL 
Canna/TBoH CndOLfmab. 

Gold 

AJKL 

PJ6 

dr's* 

Zurich 

29650 

39640 

+425 

Land no 

29645 

29600 

—TOO 

Now York and. 

- 

- 


U5. ckfiori owjce. London offictii 
Kmgsi Zurich and New YorK txertno 
and closing prtxs New York Cana 
(Doc) 

Source: Rnrtm. 


LUXOR INVESTMENT COMPANY 

Soci6t6 dlnvcstisscmem a Capital liable 
tOA, Boulevard Royal. Luxembourg 
tt.C. Luxembourg B 27. 1 09 

NOTICE OF MEETING 

Notice Is hereby given ihai the ANNUAL GENERAL MEETING ot 
LUXOR INVESTMENT COMPANY will be held at the Registered 
Office in Luxembourg, J0A. Boulevard Royal, on: 

Vlfednesday 10th December, 1997 at 14 hours, 

fnr the purpose of considering the following Agenda: 

1. Management Report of the Directors lor the year ended 
30 th September, 1 997. 

2. Report of the Auditor for the year ended 30th September, 1997. 

3. Approval of the Annual Accounts as jt 30th September, 1997 
and appropriation at the earnings 

4. Discharge io the Directors in of the execution of [hen 
mandates to 30th September. 1997. 

5. lb receive and act on the statutory nomination lor election uf 
the Auditor tor a new term of ale year. 

6. Mtsadlaneous. 

The resolutions will be earned by u majonty of those pres cm or 
represented. 

The Shareholders on record at the date of the meeting arc entitled 
to vote or give proxies. Proxies should arrive at the Registered 
Office of the Company not later than twenty-iour hours before the 
Meeting 

The present notice and a form nf proxy have hem sent to all 
sharcholdcre on record at lflth November. T997. 

Tn order to attend the meeting, the owners of hearer shares, are 
required to deposit their shares nut less than inredear days heiore 
the date of the men ing at the Registered Office 

Piuxy furms aw available upon request at the Registered Office c< i 
the Company. 

By order of the Board uf DItb.iois 



Socl6l6 Anonyme 


Registered Office: Luxembourg 
R.C. Luxembourg B-6734 

NOTICE TO SHAREHOLDERS 

New Share Certificates 
and 

Payment of Interim Dividend 

An Interim Dividend of USS 0.85 per ordinary share and USS 0.9S per 
preferred share will be paid for the current fiscal year. Such dividend 
will be payable sianing December 9. 1997. 

In view of the fact that the coupon sheets for the ordinary bearer 
shares ha ve been exhausted, the Company win issue to all holders of 
bearer shares | both ordinary and preferred) new share certificates 
with coupon sheets attached. Starting December 9. 1997, these new 
bearer share certificates with coupon sheets (coupons no. I to 25) at- 
tached will be delivered by (hepaying agents listed below in exchange 
of the existing ordinary share certificates (no coupons left) and pre- 
ferred share certificates l coupons no. 19 and subsequent left). 

Concurrently, the Interim Dividend will be payable against surrender 
of coupon no. 1 of both new coupon sheets at tire offices of the paying 
agents, subject to the laws and regulations applicable in each couniry: 

- in Luxembourg: Banque Internationale i Luxembourg; 

- in Italy: All the leading banks: 

- in Switzerland; Credit Suisse. Banca Commereiale Iudiana (Suisse); 

- in France: Lazanl Frtres & Cic.: 

- in the Federal Republic of Germany: Commerzbank: 

- in Greai Britain: SBC Warburg and Lazard Brothers & Co.; 

- in the Neihcriands: ABN-AMRO Bank: 

- in Belgium: Banque Bruxelles UmherL 

From January 9. 1998. only the new ceniflcaies will be ofgood delivery on 
the Luxembourg Slock Exchange. 

The Principal Paying Agcm 
Banque Imemaiionale 8 Luxcmbonrg 
Socidto Anonyme 


, -_i_ „ 1 1 .*.'. '- - 


PAGE 16 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


N i c e 

meet 


to 


you 



MltViiilU 


Competition has turned tougher. That’s why the Huls Group and worldwide. We’re backed not only by the financial resources of- 


SERVO DELDEN B.V.’s Surfactants and Performance Chemicals have 


Huls AG, VEBA’s chemicals subsidiary, but also benefit from other clear 


unified their surfactants and oieo chemicals business within, a new advantages: a workforce of more than 1 ,000, a leading position inv 


company, CONTENSIO Chemicals GmbH. Starting January 1, 1998, 


we’ll be more market-oriented, faster in product 


development and considerably more flexible in 


meeting customer needs. Our aim? To boost 
and’ broaden our market position at home and 



Europe’s market for surfactants and selected performance chemicals, 


an array of product and process innovations and 


a'sdlid turnover of some DM 800 million. All told 
a good foundation for enhancing and expanding 
our activities - domestically and globally. 


contensio 


A Huls Group Company 











Toyota Plans 

French Plant, 
Paris Says 

Canpdnl he Ow Fnm Departs 

PARIS — Finance Minister 
Dominique Strauss-Kahn said 
Thursday that Toyota Motor Coro 
planned to build a car plant m 
France, but Japan's biggest car 
maker would not confirm that a lo- 
cation had been chosen. 

Mr. Strauss-Kahn said Toyota 
had weighed the advantages and dis- 
advantages of setting up its factory 
in France. “And then finally they 
are coming to France,’ * he said. 

Without citing sources, Nikkei 
English News reported that Toyota 
had decided to base the plant in 
Valenciennes in northern France. 
Toyota would only say an announce^ 
. mem would be made within weeks. 

Mr. Strauss-Kahn said Toyota’s 
{decision proved that France could 
still attract major investors. France 
and other European countries that 
are to swap national currencies for 
the euro in 1999 are hoping that the 
creation of a zone in Europe without 
exchange-rate risk will make the 
area more attractive to investors. 

Analysts say France would be a 
shrewd choice for Toyota because 
Japanese carmakers seek to increase 
their share of the its market. Europe’s 
second-largest after Germany 

(Reuters. Bloomberg) 

■ VW’s Record Investment 

Volkswagen AG’s supervisory 
board said the car maker would in- 
vest a record 43 billion Deutsche 
marks ($24.4 billion ) in new models 
over the next Eve years, creating as 
many as 8,000 jobs. The Associated 
Press reported from Wolfsburg, 
Germany. - 

VW, Europe's largest automaker, 
said the new investment — 10- bil- 
lion DM larger than the last Eve- 
year plan — was aimed at broad- 
ening the company’s range of mod- 
els from 38 to 51 by 2000. 


U.K. Blasts Guinness in ’86 Affair 


Ca^byOurSt^FmaDbparka 

LONDON — British authorities 
condemned what they a 
“cynical disregard of laws and 
regulations’’ in a report released 
Thursday on the 1986 battle for 
Distillers Co. between Guinness 
PLC and Argyll Group PLC. 

Guinness won the battle for Dis- 
tillers, which made Johnnie Walk- 
er Scotch whisky and Gordon’s 
gin, and grew into one of Europe’s 
biggest drinks companies. But the 
Department of lYaae and Industry 
said Argyll might have won the 
battle if Guinness had not used an 
illegal share-support program to 
secure victory. 

The report described the share 
plan as an “enterprise of decep- 
tion’* and said it involved “cava- 
lier misuse of company monies.’’ 

But Margaret Beckett, die head 
of the Department of Trade, said 
she would not pursue the matter 


because she had received “strong 
legal advice” that she could notwin 
a case in court The putilication of 
die repot apparently closes Bri- 
tain’s biggest shareWfing scan- 
dal, which led to die conviction of 
four executives in the early 1990s 
on charges of conspiring to prop up 
Guinness’s share price and changed 
the way hostile "takeover battles 
were fought in Britain. 

But a leading figure in the so- 
called Guinness affair dismissed 
the report as “fatally flawed” be- 
cause it did not refer to the ac- 
tivities of Argyll supporters. 

Lord Spens. who lost his job 
over the matter but was acquitted 
of charges brought against him. 
said die report also failed because 
it had taken so long to complete 
and it failed to mention a judgment 
rendered in 1988 that ihere had 
been no breach of Britain’s 
Takeover Code. 


Lord Spens, who was corporate 
finance director with Henry Arts- 
bacher & Co., was accused of find- 
ing clients to buy Guinness shares. 

Lord Spens also criticized the 
amount of money die report had 
cost, saying the total had crane to 
some £3.15 million ($5.3 million). 

“On any basis, this roust be a 
substantial and wholly unneces- 
sary waste of money.” be added. 

Guinness shareholders on Wed- 
nesday approved a £24 billion mer- 
ger with Grand Metropolitan PLC 
to create the world’s largest drinks 
company. Argyll is now Safeway 
PLC, Britain’s founh-largest su- 
permarket operator. 

In August 1990, the so-called 
Guinness Four — the executives 
Anthony Pames, Gerald Ronson 
and Jack Lyons and Ernest Saun- 
ders, a former Guinness chief ex- 
ecutive. were all convicted. 

(Reuters. Bloomberg, AP ) 



stem 


Bloomberg News 

FRANKFURT — Traders world- 
wide will buy and sell German 
•stocks as of Friday through a new 
system designed to handle more 
trades and be faster and cheaper than 
the electronic system it replaces. 

Deutsche Boerse AG. which op- 
erates the Frankfurt stock exchange, 
developed the system, called Xetra, 


to replace its Ibis system and make 
Germany's market more attractive 
to foreigners. Xetra can automat- 
ically match orders; Ibis used an 
electronic billboard to post orders, 
which were then matched by other 
traders. 

The company, which spent 100 
milli on to 150 milli on Deutsche 
marks ($57 million to $85 million) 


Britain Seeks to Study Lafarge Proposal 


Reuters 

BRUSSELS — The European 
Commission had no comment 
Thursday on Britain's request for its 
competition authorities to take an- 
other look at a proposed £1.8 billion 
($3 billion) takeover of Redland 


PLC by Lafarge SA of France. 

The commission must decide be- 
fore Dec. 25 whether to give up jur- 
isdiction on the hirilding- matenak 
companies’ transaction or continue 
its inquiry under the European Un- 
ion’s mergers and acquisitions rules. 


:lop 

system, is holding talks with the 
stock exchange in Vienna and others 
about selling the system to them. 

The company opened an office in 
London and in Chicago this month, 
enabling clients outside of Germany 
to use me system as well. 

Users of the Xetra system will pay 
a one-time 10,000 DM connection 
fee. For an order of 100,000 DM, 
Xetra will cost 7 DM. On the Ibis 
system, such an order cost 15 DM. 
On floor trading, which runs from 
10:30 AM. to 1:30 P.M., trades are 
priced at 30 DM to 40 DM. 

Xetra, short for exchange for 
electronic trading, will be able to 
handle 110 orders per second, or 
900,000 orders per day. The Ibis 
system can process 50,000 orders a 
day. 


Turkey Balks 

On Seeking 
IMF Loan 


CrmfilnJbi OarSLdrrmDufwhn 

ANKARA — The government 
cannot reach a one-year 4 ’stand-by” 
agreement with the International 
Monetary Fund because it does not 
want to revise its 1998 budget, Tur- 
key's state economic minister, 
G unes Taner. said Thursday. 

A stand-by loan agreement would 
probably call for tough measures to 
reduce inflation next year below the 
current target of 50 percent. That 
would require revisions to the 
budget, economists said. 

The IMF wants to reach a one- 
year loan agreement, but the gov- 
ernment is pushing to receive funds 
over three years, Mir. Taner said. 

The 1998 budget is in a final stage 
of review by the Budget and Plan- 
ning Committee and is scheduied’to 
go before the Parliament for a vote 
m December. 

That is about the same time that 
Turkey’s prospects for European 
Union membership will be voted on 
atanEU summit meeting. Ankara is 
demanding a place in a planned 
European Conference for members- 
in-waiting, but Greece has 
threatened to veto its participation. 

Luxembourg’s foreign minister. 
Jacques Poos, said Wednesday in 
Ankar a that Turkey should be treated 
like other potential members. Tur- 
key’s candidacy has been questioned 
because of its economic problems, 
disputes with Greece and concern 
over its human-rights record. 

“We do consider Turkey a Euro- 
pean country, and we want to make 
this visible in a very substantia] 
way,” Prime Minister Jean-Claude 
Juncker of Luxembourg said. 

TUrkey was turned down for EU 
membership in 1989. But diplomats 
say the West does not want to push 
Turkey toward an Islamist system 
by isolating it from Europe. 

( Bloomberg . Reuters ) 



Frankfurt 

London- 

Fwls 


OAX • \ 

FTSE 100 index CAC40 


4500 .lix 

5500 

3100 


4300 

jl 5300 

m aooo A 

A 

•4100 / L) 

\ 5100 A. 

J 1 2900 n V 


3900 J 'f 

b ,« jA 

It u 2800 J 1 

V 

37«)/ 

|r 4700 W 

* ml 

p 

3500 j J A s 

ON 4500 J JA 

SON * 

“'.l .1 A 

5 O N 

1997 

1997 


1997 


Exchange " 

Index - . 

Thursday 

PfBV. 

% 



Close 

C^ose 

Change 

Amsttes^m 

AEX 

&B6-31 

882.35 

+0.45 

Bruamis . 

BEL-EO . - ' : 

2395.09 

2386.44 

+0.36 

Frankfwt ■ 

DAX 

3353.84 

3316.53 

+0.95 

Cop ertte^n 

Stock Mwfcef 

62932 

627.28 

+037 

ftefeinkl . 

HEX General 

W112I 

3.40439 

+O.20 

. V. ■ 

OBX 

661.14 

652.56 

+1.31 

.London ' ... 

FTSE 100. 

4yB99 3D 

4.868.60 

+0.42 

Madrid; 

Stick Exchange 

603.78 

589.93 

+2.35 

R8EN&1 

MjerTEL 

152S9 

15306 

•034 

Pari a 

CACAO. 

2329.01 

2311.65 

+032 

Stockhpim 

SX 16 

3,249.07 

3.S731 

+0.67 

Vleoiia . 

ATX 

135436 

1,256.06 

-0.12 

Zurich 

•SPl 

3,63432 

3.6iai3 

+0.46 


Source: Teiekurs 


lnlfnuu.nu] HcraklTnlun: 


Very briefly: 


• Russian banks trading in government debt to the London 
Club of creditor bankers lost up to $300 million in the recent 
global stock marker turmoil, according to the deputy' chairman 
of the Russian Central Bank. 

• German insolvencies rose by almost 6 percent in the First 
nine months of 1997 against the like period last year, while 
company insolvencies rose more than 7 percent. 

• Thyssen AG’s group net profit for the year through Septem- 
ber surged to 2.17 billion Deutsche marks t$ 1 .23 billion) from 
350 million DM the previous year. Profit grew in all the steel 
giant’s divisions because of corporate restructuring. 

• Deutsche Bank’s chief executive said the bank was likely to 
acquire or merge with a French bank or insurance company 
within the next year. 

• French industrial companies reported that they would in- 
crease production in the coming months because of foreign 
orders, according to a November confidence survey. 

• Alitalia SpA has filed an appeal with the European Court of 

Justice, asking it to strike down restrictions imposed by the 
European Commission in J uly . Reuters . afp. bl* ■mhrrt; 


WORLD STOCK MARKETS 


Yfigb Lm am 


Thursday, Nov. 27 

Prices in local currencies. 
Teiekurs 

lfi# Low Gate Pro*. 

Amsterdam AExuatMisi 

PiwUut. MU5 

3&90 38.10 38L40 3M0 
169 1666D 168® 14690 
54 5130 5140 5120 
350 34450 34990 342 

4050 13750 140 13630 

3050 30 3030 T O TO 

8440 8X20 8180 84 

0150 1Q2J0 10280 102.70 
82® 18150 182.10 181 JO 
3350 33 3130 33 

8290 81.90 8250 81.70 
» 68.10 69 6&40 

5190 51.KJ 51.10 5090 

53750 

3880 8730 8750 87.80 . 
7950 7790 7950 77-70 
BUO 8030 BO JO aojo 
74 7150 7190 7130 
43 4150 43 43 

8130 >030 6050 80J0 
46 4350 4550 4250 
5730 56 5650 5730 

2790 27390 22550 22230 
3750 13330 13350 133.10 
0330 102 10250 103 

7550 7130 7490 75 

86.30 185 185 18490 

5660 56.10 56.10 5630 
7430 17390 17430 174 

1930 119.10 119.10 IliJO 
0630 105.10 10590 1QSJ0 
>690 115.90 11630 11590 
8450 102.10 10160 102.60 
<790 4730 47 JO 4750 
5840 25790 25990 25610 


RWE 
SAP 
Schretag 
SGL Carton 

riimw 

•HaneiEi 

Springer [AwO 
Suedzucter 

KG” 

VEW 


88J0 8790 
514 509 

17390 17190 
13050 M5JB 
10690 10610 
N.T. H.T. 
915 890 

424 414 

10490 10350 
555 555 

89950 895 

WQ5 986 


8790 8635 
514 50790 
17390 17090 
227 22790 
10690 10170 
N.T. 1390 
913 885 

41590 41160 
10115 1Q3J0 
555 560 

896 095.90 
98950 999 


Helsinki hexgc^mrmia 


Etna A 
Huhtamrtil 
Kemlra 
Kesta 
Mafia A 
Metro B . 


46 46 46 4560 

224 220 224 221 

5190 51 51 52 

7690 76 7460 76 

£ 27 


Eturmati CnslTOt 1023 
Burtcn Gp 150 

Ccbte Wtartess 531 
Caftiffysch* 433 
Carton Comm 472 

Omni Unton 853 

ConwassGp 699 
CowtaSte 290 

Dams 695 

Efetinxraporefds 420 
Group ' 465 

Energy Group 690 

EntapnieOu 5-85 

Foma**** 195 
Gent Acddeflt 10.10 
GEC 4 

OKU U10 

GfamWetam 1396 
Granada Gp 855 


Ben Cm fir* 

BcnFktotran 

Bca<£ Rama 

BwwBcn 

Craft) Mono 

Edison 

EMI 

Rot 

Genertl Assic 


HV*h Lav CUM Pm. 

499 4865 4910 4935 
7170 7020 7090 7050 

1510 149 1451 1500 

2699 2619 2639 26600 
4775 4640 4645 4745 
9290 7110 9120 9200 

10000 9825 9835 9915 

5045 4970 4980 4955 

39200 3849 3879 3899 


NoktoA 
Orton- YUrnae 
Outatanpu 

UPMKfnmeftt 

Vttnet 



125 ____ 

- 433 416 431 

207 20550 207 20550 

73 72 719 72 

11750 1159 1159 11620 
3230 799 BO 7930 


Hap 

HSBC HUgs 
Id 

ImpHUmco 


Hong Kong 


SET Mac WAS 
Pierian: 401.79 


210 

132 

139 

318 

348 

669 

15 

499 

107 

2425 


206 206 
124 123 

1235 1250 1X75 
374 374 278 

342 344 350 

64 6450 65 

139 139 1475 
479 48.75 4750 
105 105 104 

2425 2425 2675 


204 

123 


f 


russels 


Aknon 4 

Barn tod 

BBL 

CBR 

Unni 

DefiorcUan 

EtedreW 

EtodroRno 

Fate AO 

Gcwwfl 

ML 

GfnBcnqw 

KmfaeaanL 

FVfeoSnd 

F oro ifm 

Karate Grip 

SacGwiBMfl 

May 

tmefctel 

UC8 


Scasa 30 todae 362807 
Prcvim.- 353552 

612 570 604 57135 

1407 1366139535137025 

480 470 479.75 470.75 

86 63 86 8335 

59825 570 £3 

2399 21*25 227 221 

1679 160 141» 

227 215 25 72535 2179 
14 1350 1175 14 

32035 30* 35 31935 3119 


BEL-20 iodec 239SJ9 
Prow** 238644 

1615 1580 190 1590 

6820 o7*0 4790 6710 

TOO 9*0 9310 *250 

3700 3140 3195 3155 

18800 16600 16100 16475 
189 1630 1835 1820 

K70 62® 8250 8750 

3400 3385 3360 

W 7180 77» DM 

1655 1520 1530 1555 

5450 5320 W30 5390 

15175 15075 15100 15125 
ULU 14*25 1479 14775 
14D7S l3*» >399 13*« 

SJW s’ 10 980 529 

M00 *59 959 95*0 

3170 3400 3450 3435 

2210 71*0 7190 21J3 

3164 3120 3140 3140 

119900 118200 I190S0 118100 


BkL 

CaltwrPixfflc 
Cheung King 
CKWmstnia 
CMnaUnrt 
OUcPocfflc 

Hang Lung Dev 
HangSaigBk 
Henderson 1M 
HendeaonLd 
HK China Gas 
HKBedWc 
HKTetottran 
HaawelHdgs 
HSBCHdas 
Hutchison Wh 
HyunDev 
Johnson H Hdg 
Kerry Props 
New World De* 
Oriental Press 
Pt»1 Oriental 
SHK Props 
Shun Ink Hdgft 
Saw Land Ca 
Stti Own Post 
Swire Foe A 
Wharf Hd*; 


1 4® 

6® 

6® 

480 

16® 

1X95 

1410 

14® 

7 

475 

4B0 

495 

5575 

5125 

5525 

S 

1875 

1X60 

17® 

1825 

39® 

28® 

38® 

39 

31® 

30® 

31.1D 

31® 

18® 

1BL05 

18® 

ISAS 

5® 

5.15 

5® 

110 

a \ * 1. j 

era 

11. 10 

11.15 


<7 

6875 

68® 


415 

415 

435 


37® 

38® 

37® 

14.10 

1X00 

14 

1195 

26® 

2420 

2435 

2470 

15JK 

1460 

1490 

15 

118 

203 

110 

113 

187® 

183 

186 

IBS® 

5125 

51 

5X2S 

a 

15® 

ISAS 

15® 

IS M 

2D® 

2065 

20® 

21 

1110 

13 

13 

HI 

29® 

2840 

29.15 

*9 

108 

203 

2X8 

no 

CW2 

0® 

CL40 

041 

59® 

5475 

5875 

5775 

150 

2 M 

145 

2® 

453 

440 

450 

4® 

6 

560 

6 

6 

39.10 

30 

38® 

38® 

16.10 

1555 

15J5 

15® 

US 

a® 

865 

805 


ft 

1455 
9.05 
195 
837 
2.76 

Laid Sec 9.68 

Lasmo 232 

L&j4 Gani Grp 5.19 

LtordiTSBGp 689 

UKnsVnfty 151 

Marts Spencer 625 

MEPC 837 

Mercury Assef 1685 

Ndtart&fd 297 

MdlPowa - 867 

NdWeri 9.15 

Hffld 1 1M 

Nanrieh Unkn 169 

Oronga ZS2 

P40 6u54 

PCOTBC BJ2 

U1 

PrroaGai 730 

PrenterFomel 410 

Proderfid 6J0 

Rt*trockGp 9.98 

Ra* Group 348 

RK**Cdm 8JS 

Rafiand 346 

Rredim 4J2 

RafckSInWol X59 

RwjfwHdgs 7 

Rrom 191 

RTZreg 7J7 

RMC Group 9.74 

Roflt Royce Z42 

SOlMBkSaA (Si 

6 Sun AI 855 


IMI 

18100 

17930 

18045 

18100 

IMA 

2965 

2925 

796(1 

2930 

lUgos 

<795 

6665 

6705 

6665 

MedcseJ 

8690 

8475 

8590 

8615 

Merfiobanco 

12320 

120® 

12110 

122® 

Mortedjenr 

1447 

1417 

1421 

1435 

Ofirert 

985 

958 

975 

977 

Paratriat 

2480 

205 

24® 

2435 

PM 

4380 

4290 

4305 

4290 

RAS 

16200 

15900 

16060 

160® 

Roto Banco 

248® 

74900 

24700 

246® 

S Paolo Torino 

143® 

138® 

13930 

14400 

TetecnaeBofa 

10920 

10705 

10725 

10820 

TIM 

1015 


<995 

M3& 

Ufontrea! 

tadatortab 

bdeel 

9240 



Pnrioai:3 

123864 

Bee Mob Cora 

38 

38 

38 

39.10 

CdnTkeA 

2865 

28.15 

2X40 

rev 

Cdn Util A 

39® 

39V4 

39.35 

3930 

CTFkrtSuc 

48U 

48V 

48V* 

49 

Gar Metro 

19® 

18® 

1870 

19.15 

GLWest LBeco 

34V* 

34 

3415 

34V* 

tansa 

49® 

48® 

49® 

0 

friveskasGip 

39 V* 

3865 

3846 

JW* 

LobtowCos 

23® 

71® 

73® 

7180 

NaflBk CBnoda 

21M 

are 

30.95 

21.15 

Power Cap 

43M 

43 

43 

4370 

Power Rrn 

43V, 

4L55 

42® 

4X60 

OueriemrB 

27V* 

V 

27X6 

27® 

Ropers Coon B 

660 

435 

635 

6X6 

Royal Bk Cda 

rev* 

7455 

7495 

7835 


VU*l Ln O Me Pro*. 


Peugeot Qt 674 663 665 662 ABBA 

FSnoul-Piterl 3000 2977 2985 29o6 AulDoman 

Pramades 2157 2087 2110 7130 Astro A 

Renoufl 16830 16530 167 165.90 AlosCopcaA 

ReeJ 1670 1610 1663 1636 Autoliv 

Rh- Poulenc A 254® 253 25530 25040 EtectrotoxB 

Sanofi 591 583 5B4 582 Ericsson B 

Schndda 322 315 315 318.90 Hermes B 

SEB 802 744 773 747 IncenttreA 

SGS Thomson 427 396 421.10 399.90 ImestarB 

Sle Generate 775 764 770 770 MoDoB 

Sodexho 3135 31® 3124 31® 

SIGobmn 815 781 791 ®| 

Suez (del 1530 1530 1530 1530 

Suez Lyon Eflw 637 626 633 632 

739 733 739 734 

CSF 166 160 166 162 

TofedB 617 606 616 609 

Unnor 9150 9140 92.25 9IJ5 

Valeo 38830 37360 38830 370.70 


High Law Qtu Pm. 


98 «&50 9730 96 

202 199 19930 20030 

13530 13250 13230 134 


: 958524 
c 917274 VUUOB 


Montbretten 
PhamvVpfohn 
Stmdrft. B 
Santo B 
SCAB 

S-E BarAai A 
Stand In Fors 
Stausta B 
5Kf B 

Foerer»ig*A 
Sion A 
S* Handels A 


243 

237 

239 242® 

293 

289 

291 

292 

612 

mu 

605 

610 

318 

:*u 

315 306® 

349 

342 

344 

343 

690 

683 

685 

690 

381® 

376 377® 

3® 

222 

216 217® 

770 

283 

276 

282 

7H0 

264 

762 262® 

764 

Z36 

231 

rnw 

234 

177 

174 

175 

175 

172 

169® 170® 171® 

91® 

90 

91 

91 

404® 

392 

403 

397 

214 306® 

310 

307 

182 

179® 

1® 

181 

194® 

187 10® 

194 

124® 

102 

102 

105 

770 263® 

269 

264 

207 

202 

204 

206 


BwduoaiPM 
■BratmOPW 
Canto Ptd 

CESPPtd 

CopH 

EHmbrw 


141 1U 8JD 840 
735X0 725® -735® 73040 
w*? S3XI0 8800 
77® 7150 7170 7348 
1410 I3L35 11® 1125 
528® 516® 820® 517® 


Sydney 


rinuttancaPW 500® 497® 500® SU® 
Light Senrtdo* 

pffisPfd 

i muimo nn 

PuuastnUn 
Sid Nodonaf 
SouaCiuz 
TetebrmPfd 
Tetermg 
Tetail 


Al Onflaeies: 2442J0 
Pnrioes: 2463.10 


Itrftmca 
UstoiinasPfd 
CVRD PM 


24499 227® 341® 227® 
131-75 12830 131.75 128® 
31® 30.99 3099 3070 
850 8® &50 8.10 

118.10 11481 117® 11530 
125® 121® 124® 117® 
121® 115® 118® 11532 
297® 284® 291® 286® 
37® 3101 3X66 3449 
7® 7® 7® 7.15 

2040 19® 20® 19® 


3 


Oslo 


Aker A 


OBX Mae 641.14 
PmfeBK 45234 
128 126 127® 128® 


SeOUl CoapesfeMifc fl2.lt 

Prerices: 438® 

Doom 530® 50000 521® 495® 


Amcor 

440 

425 

440 

6® 

ANZBUng 

10X17 

9.90 

10 

9.93 

BMP 

1134 

13 

18® 

1X21 

Bonri 

3J7 

X44 

X® 

147 

Brotnbte tad. 

29 

2845 

2867 

2477 

CBA 

17® 

17® 

1761 

17® 

CCAmcH 

1130 

10.90 

11XM 

11.14 

Coles Myer 

726 

7.19 

7 26 

7® 

Comota. 

5JD 

5® 

5® 

522 

CSR 

479 

462 

479 

470 

Fasten Brew 

175 

164 

X75 

267 

GoockaanRd 

IX 

X16 

120 

117 

KIAustnrito 

10J1 

1027 

1028 

1085 

Land Lease 

31 

30® 

3062 

31 

MIM Hdsp 

Nut Ausi Bank 

1-D6 

19® 

0® 

19.11 

102 

19® 

1X» 

19® 

tort Mutual Hd* 

X36 

Z2S 

X31 

XXJ 

News Carp 

7® 

7® 

7J7 

769 


The Trib Index 

Pnces as or 3 00 P M. New Vork nme 

Jan 1. 1992- IOO. 

Level 

Change 

% clung* 

year ro dole 

% change 
+13.20 

World Index 

166.83 

40.52 

40.31 

Regional Indexes 

AjIa/PadTrc 

98.49 

+2.96 

43.10 

-2021 

Europe 

187.16 

-0.33 

-0.18 

+16.10 

N. America 

21171 

-080 

-0.38 

+30.76 

& America 

Industrial Index** 

144.71 

+2.41 

41.69 

+26.46 

Capital goods 

214.72 

• +1.02 

40.48 

+25.63 

Consumer goods 

20225 

-0.15 

-007 

+25.29 

Energy 

192.16 

-0.52 

-0.27 

+12.57 

Finance 

117.72 

+1.37 

41.18 

+1.08 

Miscellaneous 

153.14 

-0.02 

-0.01 

-5-34 

Raw Materials 

167.77 

-0.18 

-0.11 

-4.34 

Sendee 

169.19 

+0.03 

40.02 

423.21 

Utffities 

162.57 

40-89 

40.55 

413.32 

The International Harald Tribune World stock Index O tracks me U S dollar values d 
280 ntamancrafiynvesiabto stocks from ^Sccunines. For mere mtormshon. a tree 
booklet is available by writing to Thereto index. 181 Avenue Charles de Gaulle. 

92521 NeiaBy Cade*. France. Comptod by Bloomberg News. 

High 

Low Close Pro*. 


High Low 

Oom Prev. 


Dana Sec 
DDi 
Denso 


492 3® 431 466 

3790a 3610a 3690a 3660a 
2360 2260 2320 2330 


EMJapaiRy 8750a 5670a 5730a 5640a 


Feai 
Fame 
IBank 


CdnPodflc 

Commco 

Datasai 

Domtor 


1850 1810 1850 IBM Donahue A 




Jakarta 

Astro mn 
Bklntltrutan 
BkNegoro 
Gudonq Germ 
Indoceroert 
Indotoo 
Uldosot 
Sumpoem n HM 
Sesnen Greslk 
TdefcamunAasI 


C—aorita todae 4WJI 


Prefieai: 39854 

1900 

1775 

1900 

1875 

500 

4® 

4/5 

SOU 

600 

S® 

575 

£00 

7B® 

7*00 

7725 

7475 

1600 

1500 

15® 

15/5 

2400 


Z4UU 

23/5 

8300 

ton 

H75 

8000 


<7® 

48® 

4725 

2625 

?«o 

25/5 

2625 

1 2700 

2650 

26/5 

269) 


P Hd— Q44J4 


Copenhagen 

BGBsnk 433 

twmrgB "6 
s toosftn 940 vj 
fc—<o 3S> 

OmUnnskcBk 79’ 
aSirendNgB 4140® 

O'* ion B hen 
tLShtap lea 

beiumww jto 
•hOHuntvl 8 KS 
JapWtrrB S0.1U 
j— DatankB jot 
I ’rip Scarp 4C& 

: LsBaomarv a 473 


Steel ado: 629.62 
PmtaetaiZl® 
fl? 470 
it, 373 36718 
veg QJ09J 93593 
346 355 347 

."8> .*9530 787 

jiapOO 410000 4140® 
iJSil 75IJ00 J90000 

‘ I** 1 164 IS 

Nil ^0 7« 

019® S2 1 

Jd» »C8S 1055 

jai 43 : ^ 

W j?* 

MS 4*0 4' *• 


AfiSA Group 

AngtoAmCad. 

AngtoAro-Coro 

AngtoAroGoM 

An^oAmlnd 

AngtoAMPW 

AVMIN 

Bartow 

CG.SroUh 

DeBeere, 

Dnrtredrin 

PstNatl Bk 

Gencoi 

GfSA 

ImpertolHdgs 
lng«* Coal 
bear 

Johnnies Indl 
LAcrtyHOgs 

Minorca 
Nompok 
Mertcor „ 

Ror—dlGp 

Richemont 

SA Breweries 
Samoncor 
Sasol 
5BIC 
T^jcr Orris 


30 

258 

20140 

196 

13340 

76® 

655 

46.75 

21 

1® 

3650 

41 

7® 

70® 

61 

20 

2.11 

51® 

334® 

124 

17 

92 

1635 
113 
38 
54® 
121 ® 
25 JB 
52® 

710 

68 ® 


29® 

157 

1*140 

194 

131® 

75® 

6® 

46 

2075 

101® 

3055 

39.95 

722 

a 

*n<n 

20 

202 

S3® 

333® 

122® 

16® 

89 

1895 

108 

37® 

S3 

119® 

28 

50® 

705 

68 


SaSnsfcury 5 

Setonders 19® 

Sari Newcnsfc 7 

Sari Power 4.90 

Secwlcor 177 

Sevan Trent 9 J3 

SheaTronspR ajo 

Siehf KL80 

SnriBiHephew 1.73 

SroftOw 6 05 

Smiths tad 8.05 

SO—nElec 4® 

Stogacoadi 7® 

Stoto Charter 7.1B 

TateStlfte 670 

Tesco __ 6B8 

Thornes Water . 919 

3)Grwro 457 

TIGro(«> 437 

Tomtans 109 

Unfiewr 479 

IIM Assure ace 117 

UtdHwrs 7® 

Utd’JtWtas 733 

VtnctooeLxutS 197 

MSS* & 

WMams Hdga 


341 
535 

WPP Group 2 48 

Zenea 1897 


Madrid 


lota Mac: 60U8 


THE CHOICE OF CELEBRITIES, DIGNITARIES AND EXPLORERS. 
NATURALLY. A FACELIFT WAS IN ORDER. 


Hactdjuni BA 
KitaUk 
Hondo Motor 
IBJ 
1HI 

Itochu 
Bo-Yotado 
JAL 


4900 4790 4860 4790 

671 526 655 626 

4640 4560 4600 4S90 

1420 1370 1420 1380 

1050 1020 10® 1030 

920 902 920 910 

4600 4450 4600 4370 

1080 1020 1080 1010 

280 271 279 271 


3® 326 333 323 men 


Du Part Cda A 
EdperiSniscan 
EuioHev Mng 
RxtrfaxRnl 
Faloonbridge 
mdMOidlA 
Franco Newida 
GUJ Cda Res 
ImperioiOfl 


5800 56® 5750 5800 
394 380 388 398 


Japan Tobacco 9560a 9400a 9560a 9660a 


Kuala Lumpur 


Prankfurt 

«BB rp.yj 

210 

Jto t 419 

jw «1«> 

WMtepaBo 774% 

feta M, -i 

fip 411C 

SMt- 

S*s» RJ 

1145% 

484C' 

acv 


DAX: 295204 
prawn: 391633 

,.,S5 J.'l » 1?1 » 

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IAS 144 

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AA1MB H0Q5 
Genftog 

Vd Banking 

Md InU SW F 

PetronasGas 

proton 

PuhOcB* 

Canang 

Resorts Wartd 

PoltenORS PA\ 

SmrDartte 

TefchornMol 

Tfwaaa 

UtaEngmeets 

lTL 


336 

&« 

9® 

4J8 

a ro 
830 
201 
M.T 

496 
30 75 
X58 
835 
6® 
NT. 
3J4 


Coojpash*: S5DJ4 

278 195 177 

Btf M0 8.10 

gM 9.10 9B5 

jSo 435 174 

B IK 855 820 

as $ 

b 1 
$ s a 

Nj M.T. 33* 
336 114 



The restoration of 
the historic Hotel Le 
Royal is now complete. 

Lovingly restored to 
her original splendour, the Hotel 
Le Royal, Phnom Penh Is once again 
ready to greet her guests. 

In the post, these Included 
luminaries like Jacqueline 
Kennedy, Somerset Maugham 




and Charles de Gaulle: 
now immortalised ln 
our personality suites 
On November 24th. 


the intrepid adventurer, the travel 
romantic and the astute businessman 
can once again relive the days of 
a bygone era without forgoing 


HOTEL LE ROVAL 


the necessities of the modem 
world. Unless they choose to. 


■ ustist— .1 


oflm Fts r 


■ cal) 


(Ftaoiolta*j«BZ3MI8«8wfag»08»l it* or to BJ-338 T7U. AIm-jhUwJj- mllimiiilllaJiuWt amlfB i 


Juscn 
Kafrro 
■Aareal Elec 
Koo 

Kawasaki Hvy 
tore Sled 
KhtidMppRy 
Kirin Brewery 
Kobe Med 
Komatsu 
Kutata 
Kyocera 
Kyushu Elec 
LTCB 
Marubeni 
Moral 

Mata Conan 

Mata Elec Ind 

Mata Elec Wk 

Mitabbhl 

WIsubisHOt 

MttutofcUEl 

MflsubalW Ed 

MltabishtHvy 

MitablsttMri 

Mitsubishi Tr 

Mitsui 

MBsut Fudosn 

MSsui Trust 
MuratoAUg 
NEC 
Nikon 
WkknSec 
Nintendo 
tow 


217Q 20TO 2100 3030 

433 420 430 422 

2170 21® 2170 21® 

1710 1670 1670 1680 


320 

214 

709 

1010 

124 

7® 

438 


305 

205 

697 

980 

119 

735 

423 


314 

208 

703 

1010 

120 

7® 

428 


6290 6700 6230 6100 

19® 1900 1920 1880 

195 147 193 196 

305 290 303 295 

2030 1980 1980 2000 

3780 3650 3780 3640 


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PAGE 18 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


ASIA/PACIFIC 


ASEAN to Discuss Creating ‘Confidence’ Fund 


Reuters 

KUALA LUMPUR — The Association of 
South East Asian Nations will consider creating 
a fund to shore up confidence in the region’s 
economies at a meeting next week, a senior 
Malaysian official said Thursday. 

Clifford Herbert, secretary-general of the Fi- 
nance Ministry, said the ASEAN fund would ■ 
not include a large amount of money but would 
be linked to the International Monetary Fund. 

“We’ll be stressing to get the ASEAN min- ■ 
isters to begin to present their views on trying to 
establish an ASEAN fund," Mr. Herbert said. 

ASEAN groups Brunei, Burma, Indonesia, 
Laos, Malaysia, the Philippines, Singapore, 
Thailand and Vietnam. In addition, Australia, 
Hong Kong, China, Japan, South Korea and the 


Citibank Move 
Signals Change 
For Thai Banks 

CcviptM Our S*£FK9I Dopaxitcs 

BANGKOK — Citibank’s move 
toward purchasing a stake in First 
Bangkok City Bank should open 
doors to more international buyers 
wanting a foothold in the Thai bank- 
ing sector, analysts said Thursday. 

But they cautioned dial the deal 
was far from complete, despite an 
accord signed Wednesday. 

Citibank said it planned to buy at 
least 50. 1 percent of First Bangkok, 
but it said the price had not been set 
and that it would take about 90 days 
to assess the bank's assets. 

“Citibank has rigorous proce- 
dures that must be followed before 
any acquisition is considered," 
Henry Ho. country manager for Cit- 
ibank, said. He described the pact as 
a nonbinding memorandum of un- 
derstanding. 

Gordon Stewart, Thai banks ana- 
lyst at Krung Thai Thaoakit PLC, 
said, “I don’t think it is a done deal 
by any stretch of the ima gina tion ” 

If die deal goes through, it could 
mark a watershed for Thailand’s 15- 
company bank sector, which has 
been severely hit by die country’s 
economic crisis. 

Loan quality has deteriorated 
sharply and access to international 
funding sources has been severed as 
confidence in the Thai economy has 
collapsed. 

Investors apparently chose to in- 
terpret Citibank's statement posi- 
tively and bid First Bangkok’s 
shares to their daily ceiling as the 
stock rose 1.25 baht to close at 16 
(41 cents). (Reuters, AP) 


United States will be represented at the meeting 
Monday and Tuesday in Kuala Lumpur, Mr. 
Herbert said. 

He said the standby fund would be part of an 
initiative agreed upon in Manila this month to 
try to restore confidence in the region’s econ- 
omies. Officials there endorsed a proposal to 
provide emergency funds to ailing economies 
on a case-by-case basis but stopped short of 
supporting an “Asia Fund” standby facility. 

Japan initially suggested the self-contained 
Asia fund to stabilize the region's economies, 
saying the IMF did not have enough resources 
to deal with Asia's mounting problems. The 
IMF has in the past few months led international 
rescue packages for Thailand, Indonesia and 
South Korea. 


But Western nations;- le d by -thc-United 
States, fear that countries that got into financial 
trouble would not- work as hard to get their 
house in order if they knew they could get 
financial help without having to go to the IMF 
and submit to its lending conditions. 

Mr. Herbert said the fond “won’t be very 
large, but it will just be there for confidence- 
bunding.” He said there appeared to be tittle 
opposition to the proposal provided the fund 
was linked to the IMF. He did not give any 
figures for the fund’s prospective size. 

He said ministers from 15 countries meeting 
in Kuala Lumpur next week also would discuss 
the need to increase transparency in currency 
trading and to develop prudent disclosure stan- 
dards in financial markets. 



FtwHW 

Citibank, from its Bangkok office, says it is still reviewing details of a plan to buy into a Thai bank. 

China Aims to Cut Provinces 9 Hold on Banks 


Bloomberg News 

BERING — China’s central bank 
will be reorganized to reduce die 
influence of provincial governments 
over commercial banks, as the coun- 
try moves to shore up supervision of 
a hanking system riddled with cor- 
ruption and bad debts. 

At a State Council meeting last 
week, it was decided that the People’s 
Bank of China would set up branches 
in each region, replacing the system 
of branches in each of China’s 27 
provinces and four municipalities. 

Tao -Wei, a senior official of the 
China Construction Bank, tile coun- 


try’s second-biggest commercial 
bank, said there was “a lot of re- 
sistance from die regions." 

At the State Council meeting, 
leaders pledged to tighten control 
over die financial system to min- 
imize the threat to commercial 
banks from the wave of bank- 
ruptcies that is expected as China’s 
reform of state-owned companies 
gathers speed. 

Investors are watching for devel- 
opments in China ’s h anking sector, 
described as the “soft underbelly” of 
the economy by die Worid Bank in a 
recent report on China. State-run 


commercial banks, which account for 
about 70 percent of total loans, con- 
tinue to extend many of then: loans 
under political pressure and without 
carefully assnssino the risks. Ranks 
are particularly exposed to influence 
from local gover nme nts, which put 
pressure on local bankers to lend to 
favored projects. 

Provincial governors have been 
told to fold jobs for central bank 
branch employees who no longer 
will be needed, said Han Cbunxu, an 
analyst with the Stock Exchange 
Executive Counc il, an independent 
market-research company. 


Japan Grills 
Brokerages 
Over Trading 

BUj u m h er g News 

TOKYO — The Japanese secu- 
rities-trading watchdog summoned 
13 foreign and domestic brokerages 
Thursday to question them about 
their sale of financial stocks, which 
have plunged in recent weeks. 

A seniorofficial of the Securities 
and Exchange Surveillance Com- 
mission said it asked the brokers to 
explain how they have been trading 
financial shares recently. 

“It is fine if brokerages are 
selling financial shares for justifi- 
able reasons,” said the official, who 
asked not to be identified. “But it’s 
a problem if brokerages are spread- 
ing bad rumors to push down share 
prices to generate profits.” 

He said most of t^ose interviewed 
Thursday were from foreign broker- 
age houses, but that was only be- 
cause they had bectn trading more 
hank shares rhfln- the Japanese 
have. 

“We are not targeting the foreign 
brokerages,” he said. 

Among the. 13 questioned were 
representatives from Merrill Lynch 
Japan Inc., Goldman Sachs (Japan) 
LkL, Morgan Stanley Japan Ltd. and 
Paribas Capital Markets Ltd. Tokyo 
Branch. The Japanese brokerages 
included Nomura Securities Co. and 
Okasan Securities Co. 

One foreign broker said a rush of 
short-seOing of bank shares promp- 
ted die commission to start asking 
questions. He the commission 
was investigating . whether the 
companies were depressing bank 
stocks through short-selling, which 
involves borrowing shares, selling 
them on the expectation prices 
would fall, then buying them back at 
the lower pice. 

Selling of Japanese financial 
stocks has risen following the foil- 
ore of four financial institutions *hig 

month, although the broad index of 
banking shares soared Thursday by 
5.74 percent, leadmg the overall 
market higher. - 

On Nov. 3, Sanyo Securities Co., 
one of the 10 largest brokerage 
houses in Japan, filed for bank- 
ruptcy. 

Two weeks later, Hokkaido Tak- 
oshoku Bank Ltd., a major nation- 
wide lender, collapsed. 

On Monday. Yamaichz Securities 
Co., one of the country’s “Big 
Foot" brokerages, announced it 
was shutting down. 

Tokuyo City Bank Ltd., a me- 
dium-sized regional bank, then col- 
lapsed Wednesday. 



Source: Tatefeos 


Very briefly: : . 

• India’s rupee hit another record closing low against the 
dollar despite central bank support and signs that a political, 
crisis in New Delhi could be ending, dealers said. The dollar 
closed at 38.615 rupees, up from its previous high of 3857: 
rupees Wednesday. 

• Renong BhdL, one' of Malaysia's largest conglomerates, 
sa i d profit before special items in the quarter that ended Sep. 
30 fell 71 percent, to 22.99 million ringgit ($6.6 million) as 1 
interest ana borrowing costs nearly tripled. 

• Hitachi Ltd. projected group operating profit of 330 billion 
yen ($2.6 billion) for the year ending in March, up 10 percent ; 
from the year before, but said it expected group net profit to . 
rise only 1 percent, to 89 billion yen, because of foreign- • 
exchange losses, particularly from depreciation of the Malay- ’ 
sian and Thai currencies. 

• Tokyu Corp n the Japanese railroad company, will close 
two subsidiaries in the year ending in March and take ex- . 
rra o rdinar y Jogses totaling 3.3 billio n yen as a result. But the 
company said it still expected a net profit of 63 billion yen for ' 
the year. 

• Daiwa Securities Co. will close 120 billion yen of dis-, 
cretionary accounts it manages, called “takkin funds,’ * by the 
end of December to lessor market speculation that the ac- 
counis have been used to improperly compensate clients. 

• Nippon Life Insurance Co* reporting that it has bought a 


net 100 billion yen of foreign securities in October and 
November, said it would continue to put about 30 percent of 
new investment funds into foreign securities and Japanese 
stocks and the rest mainly in fixed-income yen assets. 

• Hyundai Electronics Industries and LG Semicon, two of 
South Korea’s top three chipznakets, denied a report that the 
country’s economic crisis will force them to delay or re- 
evalnate their investments in the United Kingdom. 

• Procter & Gamble GmbH, the German subsidiary of 
Procter & Gamble Co. of the United States, has secured 6.7 
million share*, or 8459 percent, of Ssangyong Paper Co. of 

South Korea. (Reuters. Bloomberg} ' 


The IHT Desk Diary 
For the time of your life. 


Reverberations From the Asian Crisis 

Peregrine Investments Holdings Is Said to Be Recufy to Cut 30% of Staff 



I 

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— — — * 


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Bloomberg News 

HONG KONG — Peregrine Invest- 
ments Holdings LtcL, conceding that 
profits are shrinking as Asia slews, may 
fire as many as 30 percent of its em- 
ployees Friday, employees said. 

The Hong Kong-based investment 
bank, whose aggressive expansion 
matched a decade of booming economic 
growth in Asia, employs 1,760 people. 
About 80 percent of them are. based in 
Asia. 

The cuts are likely to reverberate 
throughout Asia, where securities firms 
have trimmed expenses and put expan- 
sion plans on hold in anticipation of a 
regionwide slowdown. ' 

Job-seekers aren’t likely to have an 
easy time of it Bank crises and de- 
valuations from Seoul to Singapore this 
year scuppered new stock and bond 
sales, cut commissions earned on trading 
and slashed the value of inventory held 
on balance sheets. 

Now one of Asia’s biggest investment 
banks outside Japan, Peregrine suffered 
a bloody nose this year as markets 
tanked. The firm lost $23 million in 
i equity profits in two days last month as 
Hong Kong stocks finally succumbed to 
1 the Asian malaise. 

The fixed-income, sector got hit too. 
As Asian currencies -tumbled, after-tax 
profit in the firm’s fixed-income group 
dropped by 42 percent — or$14 million 
— to $19 milli on. G uarding against fur- 
ther losses, the company plans to reserve 
an additional $35 million this year for 
possible write-offs in fixed-income. 


bringing total reserves for that division 
to $60 million. 

Alan Mercer, group legal counsel, 
said last week that he expected an “in- 
dustrywide retrenchment” as the fallout 
continues from die worst year in recent 
memory for Asia's financial markets. 
Peregrine, he said, wouldn’t be im- 
mune. 

Employees, speaking on condition 
their names not be used, said they ex- 
pected to leant details of the planned 

As Asian currencies 
tumbled, after-tax profit 
in Hie firm’s fixed-income 
group dropped 42 percent. 

staff reductions on Friday. Thursday af- 
ternoon, Peregrine's no rmall y bustling 
fixed-income department was quiet as 
senior management met behind closed 
doors. 

A Peregrine spokesman declined to 
comment on whether staff would be 
dismissed. Any such decision, were it to 
be made, would be relayed to staff be- 
fore informing the media, the spokes- 
man said. 

Among Peregrine’s anticipated re- 
ductions, the Koala Lump ur office may 
be reduced by more than half, to about 
eight from 20, according to people fa- 
miliar with the firm. Manila^ &5 em- 
ployees have been told to expect “more 
than a few" cuts Friday, people familiar 


with the firm said. 

In Jakarta, Peregrine plans to sack half 
of its 10 analysts and cut research sup- ' 
port staff to four from nine, according to - 
a person familiar with die situation. Jobs 
in sales, corporate finance and fixed 
income may be cut in half, to nine re- 
search and support staff. A 

The expected downsizing follows last ■ 
week’s announcement that Peregrine 
will sell a 24.1 percent stake to Swiss 
insurance and money management firm 
Zorich Group for $200 million. 

Under its founders, Philip Tose and 
Francis Leung, Peregrine grew in nine 
years from a small private brokerage into 
one of greater China's most aggressive 
investment banks. 

During 1996 and the first nine months 
of 1997, it was the top underwriter of 
Asian stock sales. The group has 33 
offices in 15 Asian countries as well as 
major financial centers. 

The firm already scaled back expan- 
sion plans tins year as markets headed j£ 
south. In July, its fixed-income unit — • 
which contributed almost half of Per- 
egrine’s total operating profit last year 
— postponed plans to expand to 300 
people from about 210, the division 
head, Andre Lee, said this week. 

Peregrine’s businesses include equity 
and fixed-income origination, soles, and 
research; derivatives sales and research; 
direct investments; asset management; 
and property investment and develop- 
ment In 1996, Peregrine generated pre- 
tax pr ofit o f 1 billion Hong Kong dollars 


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Nov. 27, 1997 

HI* Low Latest digs OpM 

Metals _ 

CkK P lUBUS 

LONDON METALS CLMEJ 
, Polkas par i mMq tPo 
! MoMKHIgtCaH 
Spat 15*8X0 15*900 1581 JO 158100 

FonronJ 1609JO ISIOjOO 140100 160400 

, Conor GflMM fHi* Craft) 

1 Spot 1M4M 1866 ft 1856ft 1858ft 

Fraud 1891 JO 1893J0 188100 1885J0 
1 Lrad 

Spot 540J80 561 JO 535JQ SHOO 

Fofwant 55600 S7J0 55200 SS3J0 

Spcf 61 80 JO 619000 62I0J0 622000 

Fonrani 6Z7OD0 628000 62OSJ0 631000 

TV ■ 

Spot 5BOSJO 581500 5BHJ0 586000 

Forward 573000 5760J0 575500 576000 

Zftc CSpedal Hfeli Graft) 

Spot 1151 JO 115200 114300 11*500 

Frasd J 17500 1176J0 1166JB 1167 JO 

High Low Ossa Qjge OpM 

Financial 

L0M6 GILT OJFFE 

£50000 - pit 6 32nds ellOO pet 

Doc 97 11M3 11 MS 11M7 -009 9SM8 

MorM 119-15 11944 119-11 -445 90300 

EsL Mbs: 67,753. Pnv.KftK 13S000 

Pm. open M-- 1WJ6S op 11X 97 

GERMAN GOV. BUND (LIFFE) 

DM2SW00- pt* onoo pd 

DSC 97 TOWS 163.50 10X41 -4-11 23UT9 

Mar 9S 102.K 102X3 16193 —6-10 37JD1 


H& Low LOW Chg» OpM 
Est. Mew 5*906. pm. sifts: 152.170 
Pur.opeakft 269,730 off 2,109 
10-YEAR FRENCH COV. BONDS GMATIF) 
FF50QJOO - pts (4100 pd 
DOC 77 10006 9900 9958 —008 KO3B0 
MOT98 9956 99X0 97.46— OJB 30340 
ft" 98 98X2 98X2 9690 — 0.08 73 

EsL isles: 49,900. 

Open tat: 131732 sit 4238. 

ITALIAN GOVERNMENT BOND OJPFE} 
ITL200 mBBOR - pts of TOO pd 
DSC97 11361 11M 113X7 —413 109,585 
Msr9B 113.93 11370 11303 —012 wygir 
EstSatae 31.1B6. fte*. softs: 5L295 
Pnv.apsntti 130122 oH «35 

3-MONTH 5TERUNS fUFFQ 

csoojoo-pisonoopd 

Osc97 9X32 9X29 913* Uadi 14*822 

Mw98 93.26 7134 9126 —002 123414 

Jm90 9U7 912* 97 77 _ nm 108x22 

5ft 98 9138 9232 9207 —040 82074 

Dec9B 92_54 9200 9203 — 006 7A020 

JP 5 n* 9173 -are si&s 

■n»9» 92.91 9206 9290 -Oft 54771 

5ft 99 9X02 9207 93JI —006 39X36 

EH- seta* 20890. Piw.ftc 90366 
Pm.open kft 780078 op 6009 

MWNTH EUROMARK OJFFE] 

DM1 Moon -pfteftoopd 

* ,B ** Utxfe- 2*6.924 
Jft98 9640 9620 9620 IMl 

Fft9B N.T. N.T. 96.14 IMl TOG 

6te98 96J7 96ft ^ ^ 

Jmre 9506 9SL03 950* -0.02 399X22 

Dscf8 95X8 9SXS 95X0 —gjo 1 92550 

M0T99 .9523 9529 9*32 —an IMl 

95.13 95.15 — 4UB 100240 
Sip 99 95 01 M.99 9 Sj01 —002 8A557 


H& Low Lifts] aigs OpM 

DSC99 9407 9403 9*87-001 67X35 

EsL sales: 79254. Pret. softs: 12*530 
Pest, open hiL: 10491721 alt 1031 

7-MONTH PI BOR (MATIF1 

FF5 addon -plsat iao pet 

Doc 97 9*27 9626 9626—0411 49008 

MorfO 964)7 9604 9606 —04)1 4039S 

JunK 9X85 9502 9505 Undi 31X31 

SapfO 95X7 95X4 95X7 — 0.01 20481 

Doc 98 95X9 93X7 95X9 -001 23,947 

M0T99 9525 9523 9526—007 4X019 

Jen99 95.18 95.16 95.17— QJ2 1X734 

ftp 99 9103 9501 95412—002 7.147 

BA. lefts: 3099* 

Opel tot: 267284 op 2219. 

7-MONTH E1IROURA ( LIFFE} 
m_ 1 itHBoq - pts ol 100 pet 
Doc97 9194 9350 9095 +0J4 113X29 

M0T9B 9*73 9*66 **72 +004 121.198 

Jun98 $5.17 *5.11 9S.1A +04)2 127,842 

Ssp98 9S21 9525 9520 +041 70123 

Dec9B 9530 9SJ5 9530 +OJ1 9MU 

M»99 95-19 95.17 9530 Oath. 37.972 

EM. ssftK 41X81. Ak sales: 4U7] 

Pts*. open ftl_- 556X75 op 123} 

Industrials 

GASOIL (IPE} 

^‘^P* m *fc*n.) O hrf,00to n , 

DecW 1724)0 171X0 17175 *ojo 17.991 

Mft IS’S I2J 7 * I 71 "* ■* aJS ’*190 

Fso98 17135 170X0 171 JO +0X0 15XHI 
. MOT* 17000 169,25 17000 *075 8.943 
A*« 148X0 1075 148JO +073 *201 
16775 167,25 16775 *075 2X34 
Jwre 147 JO 16675 167 JO +jjo 8743 

EN. softs: )X*53. Pm. sates : 27703 
PR*, epsa lift 89.129 up UBS 


High Law Lalmi Otgt OpW 


BRENT OIL OPE] 

UX. Mian per barel . teh ollJOO boneta 
Jmre 1879 18X5 18.7b +4.20 60973 

FcfcTC 1877 18X6 18X9 +016 58X27 

Morn 1BX8 18X3 18X4 ,014 15X79 

Apr* 18X6 18X0 18X9 +0,13 1X90 

Ma»« 18X1 18X5 18X4 +013 7750 

Joore 18X5 18X1 18X9 +011 12.132 

EsL lofts: 17700 . Pro*, sain . 5*885 
PR*, open lift 174,193 up 42Bi 

Stock Indexes 

FTSC lBO(LIPPE) 
aSpm-hwhnpoirt 

Dec 97 4941 J 4941 J 49000 — 5J 61736 

MorW 4970X 4970.0 49470 JJ JJS3B 

Est. softs: *345. Ptes. softs *073 

Pre«. open lift 69J04 off 160 

CAC40 (MATIF) 

FFTOOpof Indn petal 

«ft*7 2841 J 2050 38280 ,10.0 11471 

OK97 28480 2BZ24I 28340 +9X0 37.738 

Jm9B 2851 J 2343-5 284 IX . 9x0 *JH 

MwM 3862.0 2857.0 28SBO +9W 11 Oft 

EsL Mas: 45920 
Open bft 3*393 oil 3.966 


CommodRy Indexes 


, ci&a 1 x 1 ua 

1J04M 1X012.70 

DU.FvIUigs _ 1412S 

235X5 
Press. Landau 




l 








PAGE 19 


MU 


S'* 1 







Investor’s America 




M . - " r—rnimipWM 


Doflar m; Deutsche . marks n Dollar in Yen 


1.85 

1.75 

1.65 



130 

120 

110 


J J A s o N 
1997 

, ' I5xc|jahgej ; ' . index ' 

v .yj si . . ’’ '■ '. ij The Dow ■ • 

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U.S. “*■•'■■ 


Toronto.,;* TSEtotte x 




*•’» «*>* 



Very briefly: 


• Petroleos Mexican os' refineiy unit plans to spend $7.05 
billion in the next three years to increase the production of 
gasoline and reduce contamination at its refining plants. 

•Venezuela said the auction for Sideruigica del Orinoco, a 
state-owned steelmaker, will be held between Dec. 17 and 
Dec. 21, although a specific date and minimum price were not 
announced. The company is expected to sell for aboni $1.4 
billion to $2 billion. 

• Brazil raised 39 1 .5 million real ($352.8 million) from the sale 
of the regional utility Centrals Eletricas Matogrossenses SA 
to a group led by Inepar SA Industria & Construcoes. 
including Central & South West Corp. and Vale 
Paranapanema. 

•Brazil's national monetary council approved the entry of 
three foreign financial institutions into the Brazilian market 
The council allowed Robert Fleming & Co. to buy 100 
percent of Banco Graphus SA. It also approved the entry of 
rhe consumer-finance operations of Caterpillar Inc. of the 
United States and gave Credit Suisse Group's CS First 
Boston unit a bank operating license. Bloomberg 


ECONOMY: APEC’s Subtext 


« 


I 


mill 


III.- \ 


till 


An 


Continued from Page 15 

But Steve Radelet. an 
economist at the Institute for 
Internationa] Development at 
Harvard, argues that in South 
Korea as well as in Indonesia, 
the problems are institutional, 
not fiscal. “It makes no sense 
to ask for austerity from coun- 
tries that have excess produc- 
tion capacity and are still sav- 
ing 30 percent of their 
income,” he scud- 

The global economy is 
surely less vulnerable to a de- 
flationary panic than it was in 


1930. But the sequence of 
events in Asia — stock and 
property-market crashes fol- 
lowed by bank failures and 
competitive currency devalu- 
ations — is eerily similar to 
the one that set off the De- 
pression then. 

While economists now 
have a better understanding 
of how to contain such a 
crisis, policymakers have yet 
to prove they have-mastered 
the situation. * ‘They'ie whist- 
ling in the dark, hoping it will 
all go away,” Mr. Lardy 
said. 


To Our Readers 


U.S. stock and bond prices were not available Thursday 
because markets were closed for Thanksgiving Day. 


THE 10th ANNUAL GLOBAL PANEL * BN AMR0 

ftjfcv.- 7 uli.-r 2 * 3 . I W 7 Tin - 1 lapur J 9 fH 

W* ABnUMUBOUAM) 

The Rote i»f I.ea«lei^hi|i in tlkilial Tnmsfnrmathjii: Q|"| 

Tiiwarrl the 21 s I (Temuri 


in ;m era nf iurrrai>fng jsli'lwliintiw. and an lb* w*i 
millennium a|i|irnai-lli*». ihr mlr ■■fli-ailn-thip lake* on 
un ro prralrr -.ipnifi.'um'e- Thi.* iwo-ilay rwnfprmrr 
rrf.rmralft a uttu(H' m t«> hear, nun-1 . and 

il.-lihrmir »ith world liM>(rr» in llir ffrfcl- or IMiUtift.. 
di|>l»uw>. Iiimkiv.. Ijili.ir, nrirnr*-. and ihr mnlia. 


KF.y ISSUES iXCl.UlW: 

• Muii kind uf lejtli-r-hi|i i» nreil«l lo meet iho rhal- 
[ hlpn «>t the 21*1 .■'nliin < 

• Vk ill ilu- F.iii-iijm-uu V'nii.ii remain tin- jinninniinaiil 
(ratline |,|<u-? 

• ttdllhr Tiger Knillnmim of S,uilhn»l V-i« n.nlinur In 
-r..w. ,.r will fnliire griiwtli mmr Crimi new Blarkrl*? 

• 1* iIm-iv rorjttirali- r,n.|tt*n»iliilil> I" 1 ? «>nd llir ranh 
i«wk? 

■ « hat mil i-liangr* Hill i«rur in rurtnmrr rrlmimiii in 
tin innrutiiielt uift'rniJlit.U'Urlvti-rkrd world. 


KEYNUTK SPE VKER! 8 INCUSE: 


<1 I V. 

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deBaak 


BOaONf 


bruriel 

■item >Mi|l 

3DOOR 


Gasume 

Crmrenlr 
Dm Haag 




• II. K. F.A TnnMniHinewu I’n-i.k-m of Ki.auinia 

• U.K. Uimi.1 kurhma I'mideni t.ri'kraine 
•II.K. llunnn \*hrawi 



■II.K. r.lini jiiiiniii 

• IMul«|i CnmJii 

• IJelmni Mmii'Iut 

•Jrtfnt 0. Sai'h* 
•IT.K }*rahi/Jjil 

• krmi-lii I Jhnui- 
-J-rjni-i* L'liliiwuiiw 


MhiMi-rnfliyiiv Kdunilinn. 
I’fllmliman National 
\aifanril> 

Minftrr id Stale Planning. 
1‘iMj.le'* Rejtulilir «>f < -luna 
t7lipirtn.it «ml <’W. 

The Hm-iw ('itm|i3My 
Hainan n t.f ihr Board. 

\,..il.-iv V 
lUrtjnl liii'.-rri'N 
I Mirbicwi 

Knrwer rJinirmail- 
Mt-Kinwi & C.ni|.»n> 


N1PO St' 


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RDM 


BKWAUiy 


Fhr trnber |>> e+* . .mlwl; 

global. 


PANEL 


T r |. .31-1H-231IHSS 
p av .11-IH 
fr-nuil: rn-vi'|«.Mrl 




Arts & Antiques 

ut «ur htnthm otTut". 

Tl ., : + 4li:i K0US2A 

„ r v.tur ncan-rf UITirfB«' 

,u- nlirrMiuliiti' - *’- 


Beyond Face Value: 
Unicef 9 s Charity Bond 


Bloomberg News 

Stuck for a Christmas present for 
the investor who has everything? A 
zero-coupon perpetual bond could 
be just the thing. 

Investors looking to add variety to 
their portfolios are being offered the 
opportunity to buy the classic joke 
security — a bond drat pays no in- 
terest and never repays its principal. 

The trick? This bond is being sold 
by the United Nations Children's 
Fund, and buyers are making a 
donation rather than an investment. 

“We needed quirky, innovative 
ways of reaching the market," said 
Gordon Glide, corporate relations 
manager at Unicef. “We wanted to 
develop something that would make 
someone sit up and take notice." 

The charity has engaged help of 
the British actor Roger Moore — 
“the name’s Bond, James Bond” — 
who is U niceT s special ambassador 
for the performing arts. Mr. Moore’s 
best-known film role is that of the 
debonair spy of Ian Fleming novels. 

Ah bona buyers will be invited to 
a gala reception hosted by Mr. 
Moore. They will also feature in 
“tombstone'' advertisements in the 
press, and will receive a commem- 


orative plaque. Other incentives in- 
clude tax benefits, where die bonds 
can be treated as a corporate dona- 
tion and the company can offset the 
donation against tax. 

One bond buyer will also win two 
tickets to the Rugby Union inter- 
national this weekend between Eng- 
land and South Africa at Twick- 
enham, England, after an 
anonymous donor offered the tick- 
ets as a prize to bond subscribers. 

The Dutch bank ABN-AMRG 
Holding NV and Banco Santander 
SA of Spain are among financial 
institutions that have signed np for 
the bonds. Each bond costs 600 
European currency units ($675), 
with a minimum subscription of 10 
bonds. 

Investors can pay for the bonds in 
U S. dollars, Spanish pesetas or 
British pounds. Registered on the 
Spanish stock exchange, the closing 
date for subscription to the issue 
coincides with unicef s 51st an- 
niversary on Dec. 11. 

Working in over 160 countries, 
Unicef s services include primary 
health care, nutrition and basic edu- 
cation. 

The bond sale is intended to raise 


Drugmaker Sells 
Unit to Conmed 

Bloomberg News 

UTICA. New York — 
Conmed Coip. said Thursday 
that it would buy a subsidiary of 
the drugmaker Bristol-Myers 
Squibb Co. for $370 million in 
cash, expanding its offerings of 
medical surgical devices. 

Conmed said 1996 sales by 
Linvaiec Corp- which special- 
izes in arthroscopy products 
and powered instruments, ex- 
ceeded $215 million. Conmed. 
which had sales of $125.6 mil- 
lion in the same period, 
provides electrosurgical sys- 
tems and electrocardiogram 
electrodes and accessories. 

As pan of the sale, Conmed 
said. Bristol-Myers Squibb will 
receive a I O-year warrant to buy 
1 million Conmed shares at a 
price equal to 1 30 percent of the 
15-day average closing price 
before the closing of the deal. 

Conmed said it would take a 
one-time charge on the deal. 


German Outlook Sinks 
Mark Against Dollar 


proje 

project has been funded by Unicef 
since 1992 with $3 million a year. 
The charity wants to fund the entire 
project from the bond sale. 


Bloomberg Neves 

LONDON — The dollar rose 
against the Deutsche mark Thursday 
amid evidence Germany’s recovery 
is tenuous while U.S. growth re- 
mains solid. 

The head of Germany's council 
of economic advisers, Herbert Hax, 
said the Western German economy 
was in a prolonged “phase of eco- 
nomic weakness” and that govern- 
ment forecasts for stronger growth 
may be inaccurate. 

Mr. Hax said the government’s 
forecasts for economic growth — 
2.5 percent in 1 997 and 3 percent in 
1998 — were dependent on export 

FOREIGN EXCHANGE 

growth and did not reveal the extent 
of weakness in domestic demand 
and investment. 

The dollar closed in London at 
1.7652 DM, up from 1.7601 DM at 
the close of New York trading on 
Wednesday. U.S. markets were 
closed Thursday for 77ianksgiving. 

“The need for monetary-policy 
tightening in the U.S. is looming 
much larger than in Germany.” said 
Steven Mansell, senior strategist at 


BNP Capital Markets. “All the fig- 
ures in the U.S. are coming out on 
the strong side, with the crisis in 
Asia having no discernible impact 
on consumer sentiment.” 

Figures released Wednesday 
showed U.S. gross domestic product 
grew at a 3.3 percent annual rate in 
the third quarter, down from an orig- 
inal estimate of 3.5 percent. 

“One can’t escape the foci that 
U.S. growth is domestically led,” 
Mr. Mansell said. That leaves the 
United States less susceptible to tur- 
moil in Asia that could dampen 
trade, while Germany’s export-led 
economy stands to lose significant- 
ly, he said. 

But the dollar slipped ro 126.930 
yen from 127.020 yen as the Jap- 
anese government moved closer to 
committing public funds to aid its 
banking industry. Government aid 
for the banking system could restore 
confidence in Japanese financial as- 
sets and the yen after a string of bank 
and brokerage failures. 

The dollar also finished at 5.9057 
French francs, up from 5.9025 francs 
and at 1.4232 Swiss francs, up from 
1 .4168 francs. The pound weakened 
to $1.6721 from $1.6736. 


This man is ready 


TAKE ON THE WO 




.j This man is born to meet the expectations of his 
time. He personifies the .determination of Suez 
Lyonnaise des Eaux group to become a world lea- 
der in private infrastructure services. 

■ 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. 

j This man was very successful in 1997, 
because 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. 



•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. 

^ This man has already proven his worth. The 

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

Finally, this man reminds us that 
people are our most impor- 
tant 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 



PAGE 20 


tUDi 2 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28. 1997 


t „i.V » ■ THE INTERMARKET 


sim® wmmmmm 




RESIDENTIAL REAL ESTATE 


TT +44 171 420 0348 


imi 


I 

fii=+ 

jrilr.-ajt. 


FRANCE 




THE 

FRENCH 
MAGAZINE 
FOR . 

PRESTIGIOUS 
REAL ESTATE 


» E M K l’ R E S & 




FOR SALE, nil over France: more than 300 
chateaux, residences, vineyards, houses with 
character, estates on the French Riviera. 

For each advertisement: 

- a minimum of one color photo. 

- n detailed description in French and English. 

You will receive the last issue by air mail hy sending 
your business card and check tor US$ 1 5 or £ 8 to: 

DEMEURES ET CHATEAUX 
19230 POMPADOUR - FRANCE 


GREAT BRITAIN 


TUSCANY 

A beautifully restored estate 
in the heart of ths Chianti countryside 
Main house with lamly wing and sefi ixramed cuafl/safl accommodaton. 
2 bedroom quest coCage Range at agrtcufhiral bufcfaws. 

BeautfM larracecJ gardens wtffi storming pool and srBilaha. 
SitbstensaraawB groves. Vkns tfn woodand 
In all about 28 hectares (70 acres) 

■ in assocSBn wfSrSS^aiS’s^ra 1 (HI) in 731 1 Z0 • 


London 


HONESEARCH LONDON Lei US 
search tor you We find tomes I las 
n buy and rent and provide corpcole 
relocation wtcm. For intfvtduals 
and eonvantes Tel: +44 171 838 
1066 Fa* + 44 171 838 1077 
Ntpjftw* tameseartiusi li/htro 


Real Estate 
for Rent 

Holland 


Real Estate Wanted/Exchange Real Estate Wanted/Exchange 


Switzerland 


fP 


Real Estate 
for Sale 


Austrs/te 


com coast. (Quensuwo) 

Superb mnrtakiAauge (45400 ajjnJ 
tan spring, rain forest awesome views. 
45 mtmrfc* tram Bmadbeadi 
GREAT LONG TERM MVESTMENT 
Pnce AS 300 (HI Cash or start accept- 
able Contact “41 C ^84 3837 (to} or 
**4J 22 784 >378 {pflO iM) 

E-mail rcirectCrptanMOrid com. 


french Alps 


. ALPE D'HLIEZ Luxury ski Ooter m 
. beeuUtf mountain village connected to 
mwi*-? sir i™a 9 batooms. 5 baitt- 

• rooms iiunndn sp&i-tevef fivng area 

• lanoshc news "beauHtav lutished and 
- fccorated Ltost art or rent FF2.0 Mtoi 

• Tel .44 II" 13C 825 041 


Bahamas 


BAHAMAS-SPECTACULAR Waterfront 
Estates Iran Sill wnwJigchristmeom, 
Teh 242-322-1041. Far S2-32S-5642. 
E-mat dvEfeeebahanBs.neU& 


french Provinces 


CHATEAU IN PROVENCE 

16 km (mm Awpwn, TGV, Mraort 
Poetc i9tfi cent bnck & stone resdence 
of 320 sq m., 3 string receptor rooms, 
■Kratf&ce. 3 beacons win tatamte 
Ad|cnng mas at 350 cam wtn 
11 morns parfely rasured 2 detoe 
cottages, dovecot, pool 400 sqm bam 
used as msc room. Pat: nir cenftiy 
old trees. 6 ha aarads FF4 .500,000. 
Tat +33 W MBS 7510 te 9095 8108 


SOUTH EAST - DROW Sptenfd prop- 
aues arattle tor sate h taaufuf out- 
bystoe at Drome. Ask tor docunentefon. 
FOR SALE Srpsfa 190 sqm Opto + 
terrace mtti paroanc vterr t»er Rhone 
river, cedar + 2 garages included. 
Tetfac +33 (0)4 75 00 32 95 


Collingham 

Serviced Apartments 

are sauted in a quiet Residential 
street in South Kensington. 

\Et* nffer 24 jparunous nqgta]' 

liixn 1-3 heikmnb. 

Ejvh jraiuuenL III** u fully equipped 
Wlietvrwrpuun Maid 
seivtceyialittf TV. 

J-i hour mvniiiwi wiili f» 
and bundry -cn-Lce. 

The pafetf ailmuuve to Huld 
jLireimhxLu' >n fur the vi>+un,i; 
family "< hu-'lnev* jxixm. 
Cunparative rate-privacy and ideal 
h union. Knightsmidge. Muwiufr. 
and the E.\M>ilion Halt ai Fjrts 
unun- Olynipu male CoUiiudum 
C.iixira* (lie ideal li< +tu- from t»<ac. 

For ma and krodwre please contact 
26-27 CcOitoitai Cutfno-uadin 5VV3 OHN 
W 91714444677 -Fix: 9171.244-7331 


French Provinces 


PROVENCE - LUBH30N 
TYPICAL STONE C0UH1HY HOUSE 
350 sqm. • Beatiuty reno ustfacL 
cerndham g large , s unny bri ng, 
terraces onto garden. 6 bedrooms, 

3 bathrooms, stufc to cantata. pads, 
pool house. 16 x BM pod. on 1 acre 
bdscajwJ gattfenQuel but not wool 
BrauNakhg view on medeval viege. 

Meet anlion. don goi causes 
30 Ion Avignon 45 n«i Uarseto axpat 
OWNER T& / Fax +33 (0)4 90 72 48 00 


GENEVA AREA (FRANCE) 10 run Ge- 
neva dowrtowa 20 min to apoa Leary 
stone budl house. 500 sq m.. 5 bed- 
rooms mill enade Mb. pod. gamoe. 
land 55.000 sq m. SITU Owner Fax 
+33(0)450952787 Tel +33(0)450952789 


NORMANDY, 2,500 sqm. pounds Mi 
beeutfd tot trees, 250 sq m very nice 
character 'CHAUMIERET. 5 bedrooms, 
targe Bvtng. firepbee. 2 baths Tennis 
cout FF13U. TeL +33 (0)1 4551 5411 


PROVENCE - ALPILLES - LUBERON - 
Free brochre LE TUC IUUO Prestige. 
36-16 LE TUC. ri|rJwwwjg+iiaitaJr - 
Tet +33 |0)4 90 II 84 84 


PROVENCE, we dto a vaitty d spterv- 
dti villas, 'mas' or Tattles' n soiinem 
Franca CcmpWe rtanrakon on rea«SL 
SOGIP. RayoscFax +33(0)4 9470 4801 


SWITZERLAND 


Foe sate near the capital 
g OTa/SNlftatoiKtoutflagd lnfl 

Manor House 

1 8* Century, main building with two 
livings and 10 rooms (about 500m 2 i, 
underground swimming pool aed 
party room, underground car park. 

Guesthouse with 4 appaitraeuts 
for staff and guests and 6 garages. 

Surrounded by a beautiful park 
with ancient trees (abont 34 "OO Ora 2 ). 
In pristine condition. Low tax rates. 

Request m Now Blatter Dmrido* ft Ponw. 
S d > — lernns se 13001 Bern, 
Tefeptnne: ++41-31 312 53 12 


JERUSALEM. German cdony. large, 
tnque. 3. garden, basement, partung 
Dt VeiCi • Sox let 972-2-5611627 


JERUSALEM. German cdony, 4. tout- 
ous, spacious, parting- Di Verok • Sou 
Tet PZ*«6!H2? 


JERUSALEM. German botany, unique 
pomace. 4. elevator, poking. Dl Yard 
- Sari Tefc 972-2-5611627 


PORTOFWO (Gawra) Uttpie prcperty 
to sab overlooking Be » d Potato. 
Over 460 sgm vMa on three levels 
which b cunmr being restuded by Ar- 
cMect Vfetti ufth zojoo sqradtar- 
laced property reaching dom to Hie sea. 
Cal Mario Abas Esq. at 39 2 83381 or 
to 3 2 653305 


ITALIAN RMEHA, ICAR PORTOFMO. 
Two country houses to be My retur- 
bnhed, ann dwe grows five Harare* 
ban sea Iron May be sold separatahr. 
Tel/Fax owner +39 185 261811 


Jamaica 


JAMAICA. 2-STORY HOUSE, 3 bed- 
rooms, 2 bote. 2 receptor rows, ckv 
Ing room etc. BeaiflW lei acre over- 
loatang Maniego Bay Price £135.000. 
For detaifc contact Victor Storisy Tel: 
+676 952 2730 Fax +876 952 3588 


□ LAKE GENEVA & ALPS 

Sate to ftaaows auhoreed 
our specialty since 1975 


Aft&fre properties, owriodon vws 
1 ta 5 bedrooms bom SFr 200.000. 
REV AC SA 

52, Hontbrftnt CH-1211 GENEVA 2 
Tel 4122-734 15 40 Fax 734 12 20 


GSTAAD - Rougement 
MouHan Apartments 


Please conacl CF MMOBIUERE 
COVAGWE FONCCK SA 
Tel +41 26 93 9273 Fax +41 26 925 9275 
E+rtot cfimmabljtoGMuMfflijCh 


USA Residential 


FORT LAUDERDALE, FLORIDA 
EXCLUSIVE WATERFRONT ESTATE 
ntfi 700+ tad d water frontage. 100 loot 
yachts accommod a ted, home has al he 
amenilies Just reduced to 
USS6.099.000. Can Mary Btcd. agert 
REMAX Partners £43955977 USA or 
E-md: ntrocafitaaneUTel 


MAMI BEACIWEST LOCATION 
DRECT OCEAN-TOP DECORATION 
-EJfdwrcy 694sl.135K 
-2 Beds/2+1 (2. -176Qsf.36CK 
-3 Bfldsr3+1/2..2454sf..495X 
Tat (305)534-61 05/FaE 5346108 


NEAR KEY VEST. FL Ocean toot 
estate has rare pririege of owrmg t's 
mMy private sandy beach uih coonl 
pdms A Me oaradee vilih 62 x 20 ti 
pooL Sf 9M fCp.’.'wTTwcatoprocom' 
toapa: Td: 306-298-1907 USA. 


French Provinces 


STRASBOURG 

New Earopean Pafiament, owner rente 
charming lircuitaus apartment. 3rd boar, 
new btotog 94 sqm + 23 spn terrace. 
Large Wing with beautlhb view on 
Orareene pert. 2 bedrooms. Bathroom, 
■c. alar, garage FF8.900 net Cafl on 
working (fays: +33 (0)3 89 80 16 92. 


RENTHOUSE WTERNAT1CNAL 
No 1 n Hobnfl 

to (semi) (unshed luusssfiilats. 
Tet 31-2M448751 Fat 31-3W4a5909 
rrtwen 13-21. 1083 Am Ansteflton 


KOMEHNDERS WIT. Herengracid Ml 
1075 BH Amtferdam To) *31^0.638222 
Far 63922© E-maiwooRseleciOtM 


JERUSALEM. Garnsn Colony Unique 
penthouse. 3. spacious, view, elevator, 
parting D< Ywofl - Sfanl Tel: 
972-2-561 1627 


UIBR1A near Tori, elegant rite ntth 
(mate pod and (wins cout. 5 bed- 
rooms, 5 baths, al amen ties, servants 
and raFreJ rneds avatebte ifty- Octo- 
ber. hom USS 3000 per week. Faxftet 
39 6 57B31S6 


London 


CHELSEA CAOOGAN SQUARE 
exceptional tumbtad 1-bedroom Rat with 
supeib reception rooms, access lo 
gardens. ESSO per week. Long lei 
Tel +44 <0)171 938 2001 


Switzeriand 


CmSTMAS - FEBRUARY • MARCH. In 
he & lescrt of Vortxa, very tope tou- 
ry tunshed fto m hAlng wti pod end 
sama, 2 moms «Mi tope double beds, 
2 rooim nth tor s»e by Nda beds, 1 
rooms wltfi side by side beds, 2 batft- 
roams. 3 wcs. veiy ton lichen, sipab 
view on Mteertram Tet +32.75.808859 


GENEVA, LUXURY HIRNISKED apart 
ments From studtat id 4 bettooms. Tet 
+41 22 735 6333 Fra +41 22 736 2671 


CHRISTMAS ft PALM BEACH, FL 
Luutaa furnished 2 bedroom. 2 bath 
on waier. lance. 2 pools, gatehouse 
secuty, very prtvate. 54,000/1110. Tot 
561-585-2455 AvafaUe long term A sale. 

NYC FURNISHED APARTMENTS. 1 
week to 1 year. Great Locations. Cafl 
Pat'Chcpx 212-4484223. Fas 212- 
4x8-923) E-Mat dhometmeaaLcan. 


US conpany seeks fimshad 2/3 bed- 
room ftat In Paris 4*, Sth, 6th. Till. 
May-Sept Bequfste quaiy for high pro- 
ffe cSarl Apartment vtettag Dec. B-1S 
Box 471 1.H.T. M252I Nedy Cedex. 


HOLIDAYS 


TUSCANY, ITALY 

rat RSXtence sartwl ^ 

sides lOf 2 (totes HU-; 

ence to Sam 2-3 

to Fab -98 Contact iMg* ff '. 
New Jersey USA Fa« ?73-9SM6g _ 


SKI HOLIDAYS* ; 

RE LA IS & CHATEAUX 

W' HOTEL DES NEIGES **** 

COURCHEVEL 1850 - FRANCE 

cwrevuxw One of the beet hotels in Courchevel 

T«H: + 33(0)0479080377 
Fax: + 33 (0) 04 79 08 18 70 

Internet: htto^/www.integ ra.fr/relaischateaux/Neiges 


AIRPORT SERVICES 




UH 

,r ,±j' 


1 1 i U n v 


Airport ClMrtos de Gaulle and Orly 

low atfSar+ffilSiSr S«vw 
ratTy^.'Swth* 

ftr yu ovnDt to <nJ turn w wpat. 



Bed & Breakfasts 


MANHATTAN LODGINGS, NYC. Start 
stay lumy apatmafe, supertar B S B 
registry, many locations 
Tflt 212-475-2090 Fax 212-477-0420 
wwwmotoantadgtagsrom 


Lebanon • 


HOTEL AL BUSTAfL East oi BetruL 
5 «**■ + F+ nfl rtnii B i locahon. sacu- 

rtty. comfart, Brie cdstaq. coiventtons, 
bustoess unices, satellte TV. 16 all 
transfer from airport Nee. IITELL Fax: 
(961) 4672438 / (+3^ (0)1-47200007 


BREATKTAKMG VIEW OF IEW YDTOC, 
20 tL glass wal: Centra Part & Cly. 
Lunroousty tumisbed: piano, lax. cable. 
For bustaess, musical or honeymoon 
couple. 1 dock » Carnegie Halt 2 to 
Letlanon. 5 lo Uocoin Oerter, Uifie- 
uns, ThaBtos. Weetty, Monthly, 3 day 
weekends (minimum) or tong term. 
Tet 718-548-9368, Fax: 716664-4142 



Caribbean 


ST. BAH7HELEMY, F.WJ- OVER 200- 
PRIVATE VACATION VILLAS - beach-- 
hwa to hflskfe totb pools Our agaiu' 
hove Inspected ad vitas personal? For. 
reservations on Si Barts St. Uarm. An-, 
gdb. Barbados. Mustmue. the Vrgn Is- 
hods.. Cafi WWCO//SIBAFTH - U 5 
(401)849-801 21a* 847-6290. (ram 
FRANCE 05 90 16 20 - ENGLAND 0 
600696318 


Morocco 


MARRAKESH - 5 nuns Mamuraa and 
4 bedromrs, 5 bteis. pooL 2.600 sqm " 
garden. Dec A Jan 1 ^.■eei 54.500 s&n • 
nteed TetfFax. +33 ron 46 40 M 72.- 



ReAjl ^sTate In And ArOund R 



Paris VHth - Champ de Mars 

exceptional apartment 

A step from the Eiffel Tower, 39 Avenue de la Bourdonnais, 
in elegant new building under construction with original 
character facade restored, LUXURIOUS 7-ROOM DUPLEX, 
with 5 bedrooms, iarge reception, terrace and enclosed 
private garden Very high class fittings - lustified price. 
For visits, call : Madame Desaubliaux 
Tel: +33 (0)1 45 55 01 19 
OGIC: 31 rue Pouch* - 75017 Paris -Tel: +33 (0)1 44 85 65 50 


SOUTH PARIS. Valiee de Chemuse, 
3 min RER ST RBIV. hgh d»6 proper- 
ty. 200 spri + 100 sq-m. to be wted ♦ 
atuc & ceter 1st floor. 3 bedroons. 
study, lautfy room, bats. WC Ground- 
Boor. 1 bodroam wtn shoucr room, WC. 
fang, dnmg, fireptos, kfchen, pstry. 2- 
car garage, terrace. 1X00 sqm. grounds 
F2. 700,000 Tet'Fax wmer (OJI 0124152 


MONTFORT L'AKAURY (78), 30 tnin 
Parts MODERN HOUSE 140 sq.m., 
double teinq, 3 bedrooms, 40 sqm. 
garage. 2,500 sqm. garden. Tat +33 
10)1 44 29 07 07 


PARK 6th - PLACE RIBSTENBEBG 
Siperb 200 sqm to peried conSUca. 


j&ifc Real Estate auction sale in Palais de Justice of Paris on 
Thursday December 4»1997 at 2:30 pm. 

m, me de Ubeck 

2nd floor, indoduig: entrance. Bring, small Bring, dining room, 4 bed- 
rooms, bathroom, laundry room, shower room, kitchen. 2 studies, 2 
Wcs + staff WC In servants staircase. 2 cellars. In basement doors 2 
& 1 1 - Condo lots numbers 107, 12b. 133. 

Starting price FFI, 200,000 

For information contact: Me. F.Moocafico 
of SCP CONSTENSOUX - INBONA - MOCAF1CO, 
Esquires. 4 ave. SoUy-Prudhomme. 75007 PARIS. 

TeL +33 (Oil 44 18 OO 18 - Mlnitel 3617 code IAVEN 
Visits on Monday December 1st. 1997 - 5KX) to o:00 pm 




ST GERMAIN DES PRES. OWNER. 
ApartmErtWmder. »tog wth faeptos, 
bertoom, 2 WCs, anal stxJy. mazzawe 
oonaoge. Tel- am +33 (0)1 4637 0208. 


FOCH - HENRI MAHT1N - 1ENA 
Smerb. targe axl tortus apamnate. 
W I Faic +33 (0)1 38 65 76 96. 


SPECTACULAR vte« tarn 3 batoontes. 
hJy fwn start 2-bedroom penthouse in 
Les Hates. Fl.BM. Tet +33 (0)140139973 


RENTALS 


Paris Area Furnished 


Mads room partting 


Kusmty 



6/0 PARK AVENUE HAS FULFILLED ITS DESTINY AND BECOME THE MOST 
EXCLUSIVE CONDOMINIUM ADDRESS IN NEW YORK. THE GRACE AND STYLE OF tqZO'S 
ARCHITECTURE ARE COMBINED WITH AN UNPARALLELED LEVEL OF AMENITIES AND PERSONAL 
SERVICES, AND FOUR STAR DINING AT WORLD FAMOUS Restaurant Daniel. THE SENSE OF 
PRIVACY, ATTENTION TO DETAIL AND DESIGN AT 6lO PARK AVENUE ARE THE 
HALLMARKS OF THE CITY'S MOST PRESTIGIOUS NEW RESIDENCES. 

eaccedinp' afficzfacda&ofziy S/O SX/henuc- 


J$rt£- fa’feizbda&aatrv !&e3idencel^k&m- f 700,000 foe-veto f7 mz&avu 




FOR A PRIVATE APPOINTMENT, CALL OUR 
SALES OFFICE: 66o MADISON AVENUE • SUITE r6oo • NEW YORK • NY IOOZI 

2I2.6j2.6lOO FAX 2i2.8j2.7924 
SPONSOR; PARK 65TH ASSOCIATES. L.P. 

A DEVELOPMENT OF THE TRUMP ORGANIZATION 

EXCLUSIVE MARKETING AND SALES AGENTS THE SUNSHINE GROUP. LTD. 

THE COMPLETl- OFFERING TERMS ARE IN AN OFFERING PLAN AVAILABLE FROM THE SPONSOR. 



Ml -ROND POINT 
des CHAMPS ELYSEES 

199t cert tMtong. 

174 sqm. 3 bertoarrc 
CHARM SUN. 

16th -FOCH -SUN 
Very high class, 23) sq.m, 23 bed- 
rooms. douUe garage, raids room 

FEAU 

V. HUGO (0)1 45 53 25 25 


17th -CHARMING DUPLEX 
1330 buUrg. 6th (bar. elevator. 
116 sqm. open rien. nice firing, 

1 room, shift, terrace, high CLASS. 
FF2 450 000. Teh 33(0)1 SS 60 93 14 


BLD DE MONTMORENCY 

Preswypts, fte 7 rooms. 393 sq m . 
balcony S terrace, 6th floor, excepttod 
new. parian and staff room. 

Tel: +33 (ttl 40 06 M 30 


4th, MARAIS. Owner. 17th cert sunny 
Hat. 115 sqm. Duplet*. 2 befonffiSH 
mezzanine) 2 twite, 2 WC. Svtog Ver- 
^te parquet, mri pawing. In peca 
hgh ctetog baams. 0pm teeter, **g 
room. FKL590U Td +33(0)142783157 


IDEAL FOR EXECUTIVE A FAMILY. 
Napoleon 111 9+oom manaon +1881 cert 
guesl house, viage n loresL 50rr Pam 
£900 sq.fi.. ronl anfloi at^qigiped. 
4 bedroom. 3 fireplaces, r/2 acre, m 
SOtaotohapa. Quick sale. SGOOto- Tet 
+33 (0)1 34 BS 36 12 F» 34 86 36 13 


16ttL ELEGANT 195 SQJL ET0ILE7 
Victor Hugo, class taHng. 5 rooms. 
Was FF49M Tel. +33 (0)1 4338 4054 


EMILE GABON 

(0)1 42 61 73 38 


PRIVATE HOUSE IN PARIS 

100 sq m r grognoy suraundngs, 
bang sod h. rxturtng 2 bedrooms, 
enxfenl cordtion TO7M. 
Tel/Fax 01 45 80 46 40 


WHY NOT UVE OH THE WATER 7 
Penicte ka sate Wy renovated, inside 
and custoe 230 $«m IMng space. 
4 bedrooms, 60 sqm tivtag, h replace, 
ktamn. bath. WC BougvaL 15 mn wea 
Pans FF1A50DQ0. TeE +33 (0)1 34 83 
44 20. Fa +33 (0)1 43 36 44 45 


4th, EE SAKT LOW S. 2 roori B, charm- 
ing pBd-a-fprrc, quid, ftepbee, beans & 
stones, fivmg t bedroom S titchea 
6h ower. O wner. FFffiOJMX Tef +33 (0)1 
44767603 (afternoon) a (0)1 45854082. 


TTTOCADEM. rtefot rfcabta h etfi fa- 
ng rum mezzantae. 2 bedrooms. My 
equipped talchen; bathroom, shower 
room Oak floors, fireplace. 106 sort 
FF2.850000 Tet +33 (0)1 44 26 40 ffi 
answenng machine Fan 44 26 43 75 


DEAL •P1ED-A-T5WE* St Ganan des 
Pies, large stixlta. Id floor, ffi sqm 
'Cato, I6lh certuy bukAu concierge, 2 
ntin. from Buo Martel & me Louvre. TeL 
+33 (0)1 43 26 74 40. FF 1550000 


PARE 5th. near CLOSERE des ULAS. 
Haussmam style txAfino. 55 sqm. very 
Stany. far*! room win balcony, 1 bed- 
roan. garden F1.4M. Tel. owner 
(0)1 43S59 65 


PLACE DE LA CONCORDE Unique 
boa tar safe Lots of (term Afl wood to 
low. 2 Petfoods, large bam, dec*, 
mew of Eflsi Tower, recert renovators. 
FF 2OTUJ00 Trt 33 (0)6 07 52 80 71 


RUEIL HALIWSON. near golf. High 
ctass esaa, 390 sqm. HOUSE + targe 
basement. 5 bedrooms. Healed pool 
Rgh cfcss mwgs. superb oarden. FF 
£8tt Fffonrrar +33 (0)1 426(133 96. 


VAUCffiSSOWSOLF - PAfBS. BeUfUl 
140 sq.m apartnen). dodrie firing, 
3 or 4 betfooro, 2 garages. Nam d 
commodKiK. American A German 
seta*. Tet +33 (0)1 44 29 07 07 



Paris Area Furnished 


VERSALLES - FWMSHED ■ In modem 
buking, large double farag, 3 betaooms. 
fully equipped, close to the loiesl 
FF10JOO net Tet. +1 415 587 7650 ■ 
Fs +1 415 474 6310 


NEU1LIY - 80 SQJL wth elegart recap- . 
Ikra rooms n ctermng rormhoiBe. m. 
saduded pnvae mews. One to mmo & ' 
MaiU W-termtoaL FT 300 + utilities 
Tel +33 (0)1 4745 3672 Jane lOanripm 


7th - SAINT GERMAIN DES PRES - 
RUE DE LLLE, staring itilh December, 
tar 1 or 2 monte. Lmng +■ 2 betfoons, 
kfechen, bathroom. W floor Aj contorts 
Tet 4® m 03 00 42 09 


PARIS 16th - MUETTE - Freeuene 
buitfng. beautftri studio, bathroom,, 
apitaped Uctaa FFS^OCr ixus cnaroes. 
Tet +33 (0)1 45 25.90 » 


PARIS 7th - FOR DECEMBER 
hi Kw whouse. charming Svrng mom wth 
fireptace + study + bedroom on Garden 
Trt +33 (0)6 07 02 77 97 


ST CLOUD: 5 tans staton, by owner. 
Luxuy 40 sqm. studio, kitchen, bath, afi 
comforts, terrace, splendid new, sun 
FF4.30Q Pflt Tflt +33 (0)1 46 02 24 19 


Embassy Service 

YOUR REAL ESTATE 
AGENT IN PARIS 
Tel: +33 (0)1 47.2030.05 


7th, PENTHOUSE, 70 ra.m., terrace, 
vie* on EIFFEL TOWER: FF18.000. 
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THE INTERMARKET 
Starts 
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PAGE 22 


Iforal hl'Sl^ Eributtg 

Sports 


FRIDAY, NOVEMBER 28, 1997 . . \ 


World Roundup 


Cruyff Hospitalized 


J The Dutch soccer great 

Johan Crayff has been hospitalized 
with heart complaints, according to 
reports Thursday. 

Cruyff, 50, .was admitted Wed- 
nesday to an Amsterdam hosp ital 
Doctors said he was in satisfactory 
condition but would be kept under 
observation for a week. The former 
star for Ajax and Barcelona un- 
derwent bypass surgery in 1991 
after suffering a heart attack, Dutch 
television sard. 

Cruyff was named European 
Footballer of tbe Year three times 
in the early 1970s and was a star of 
the 1974 World Cup finals in which 
the Dutch were runners-up to Ger- 
many. Cruyff has recently been 
working as an analyst on Dutch 
television. (AP) 

EU Is Calling One’s Bluff 

formula ONE The European 
Commission, which is seeking to 
ban all tobacco advertising, said 
Thursday that Formula One organ- 
izers were “bluffing” in their 
threat to move out of me European 
Union in order to hold on to cig- 
arette sponsorship. 

The IS EU nations are expected 
to vote on a tobacco advertising ban 
on Dec. 4, a decision that could rob 
auto racing of its biggest sponsors 
in Europe. 

Organizers of Formula One 
races, by far die most popular motor 
spot, have said a ban on tobacco 
sponsors would force them to with- 
draw man y of the 10 European 
Grand Prix races from Europe and 
go to Asia instead. 

“We believe Formula One is 
bluffing,” said Barbara Nolan, a 
spokeswoman for tbe EU health 
commissioner, Padraig Flynn, who 
is the driving farce b ehind the ban 
proposals. “We don’t believe there 
would be a mass exodus,” she 
said. (AP) 

Greek Leagues Accused 

soccer More than 100 mem- 
bers of the Greek Parliament have 
charged that the nation’s soccer 
leagues are rife with game-fixing 
and corruption that could lead to tbe 
sport’s “exleanination” in Greece, 
according to a document made pub- 
lic Thursday. 

'‘Every Sunday, fans watch ref- 
erees making blatant mistakes that 
are not human and that, in most 
cases, shape the result of crucial 
games,” the lawmakers said in a 
declaration filed with Parliament 
on Wednesday. 

Greek soccer federation officials 
had no immediate comment on the 
allegations. (AP) 

Duke Holds Off Wildcats 

basketball No. 3 Duke had to ' 
hold off top-ranked Arizona down 
die stretch for a 95-57 victory in the 
championship game of the Maui 
Invitational in I -ahaina, Hawaii. 

Tbe Blue Devils (5-0) appeared 
to be coasting to an easy victory 
Wednesday night, leading by as 
many as 24 points early in tbe 
second half. But die defending na- 
tional champions refused to go 
away. 

The Wildcats (3-1) battled back 
to 84-78 on two free throws by 
Miles Simon with 1:47 left But a 
jumper by Trajan Langdon, along 
with 8-of- 12 shooting from the free- 
throw line, gave Duke the victory. 

No. 8 Kentucky took out its fury 
at being whipped by Arizona in the 
semifinal by drubbing Missouri, 
77-55, in die third-place game. 


Jamaal Magloire had 18 points, 17 
toed she 


rebounds and five bloc! 
the Wildcats. 


shots for 
(AP) 


Chasing the Ghosts 
Of Davis Cups Past 

Americans Revisit Sweden in Try for S2d Title 


By Christopher Clarey 

International Herald Tribune 

GOTHENBURG, Sweden — It was 
Thanksgiving, not that considerably 
more exportable American holiday Hal- 
loween. But Tom Gullikson was still 
talking about ghosts on the eve of this 
year’s Davis Cup final. 

Sweden's second largest metropolis 
might seem like an innocuous place: It 
was once voted the friendliest city in this 
e galitari an, social-democratic country. 
But for avowed capitalists like Amer- 
ican tennis players, there are phantoms 
aplenty hovering in the Arctic air. 

The United States has won a record 
31 Davis Cups since a patrician Amer- 
ican amateur launched mis annual team 
competition in 1900. Tbe reason the 
United States has not won 32 is because 

b^H^rik^S undstrom^anci Mats Wil- 
ander ambushed the self-destructive 
duo of John McEnroe and Jimmy Con- 
nors here in the 1984 final. 

Ten years later, the Americans re- 
turned to Gothenburg's Scandinavium 
for a semifinal in 1994, and despite tbe 
reassuring presence of a McDonald's 
restaurant inside the arena and a small 
and undemonstrative Swedish crowd, 
they were bushwhacked again in Gul- 
likson’s first year as captain. 

The Americans led mat tie, 2-0, but 
. to lose the doubles. Then on 
final day, Sampras strained a leg 
muscle and had to retire against Stefan 
Edberg, and Todd Martin was upset by 
Magnus Larsson in the decisive rub- 
ber. 

“We’re hoping the third time will be 
lucky because it certainly hasn't been a 


charmed city for us,” said Gullikson, 
neglecting to mention that the Amer- 
icans actually came away victorious in 
their first trip to Gothenburg in 1978. 
“We’re planning to take care of 1994 
and the ghost of 1984 at the same 
time.” 

Three members of G ulliks on' & 1994 
team are back this yean Jonathan Stark, 
Martin, and most importantly, Sampras, 
the world’s No. 1 player who, after a 
lengthy and lucrative season, must at- 
tempt to summon one more long week- 
end of brilliance out of his weary right 
arm and psyche. 

Davis Cup has not been high on 
Sampras’s list of tennis priorities since 
he beat the Russians in the 1995 final in 
Moscow on his least favorite surface: 
clay. But after other Americans dis- 
posed of Brazil and Netherlands in this 
year’s first two rounds, Sampras and 
Michael Chang belatedly grabbed the 
baton in the semifinals and swept all 
four singles matches in a 4-1 defeat of 
Australia in W ashing ton 

Sampras, has played brilliantly ever 
since, winning tne Grand S lam Cup, the 
Paris Indoor and, just 10 days ago, the 
ATP World Championship in Hannov- 
er, Germany. The question, even after a 
leisurely week in* Los Angeles, is how 
much fuel is left in the Ferrari? 

“I feel fine physically, but it’s going 
to be a short vacation,” said Sampras, 
who is expected to play singles and 
doubles, with Martin, in Gothenburg. 

- “I get four weeks off after this, and 
then it's time to get ready for the Aus- 
tralian Open.” 

There are posters all over Gothenburg 
of Sampras celebrating the se mifinal 
victory over the Australians with an 


A Fan Gives Thanks 


By Dave Anderson 

New York Times Service 


In the wake of Thanksgiving day 
on Thursday, it’s time to remember to 
thank those who make sports’ little 
comer of the world a better place: 

Tiger Woods, who not only put on a 
green jacket but also spread golf’s 
gospel to kids everywhere. 

Evander Holyfield, who restored 
dignity to the heavyweight champi- 
onship as a puncher and as a person. 

Mark Messier, who deserves to be 
remembered, as he was Tuesday night 
at Madison Square Garden, for lead- 
ing the New York Rangers to the 
Stanley Cup in 1994 — not for tbe 
contract dispute that provoked his de- 
parture to Vancouver. 

Karl Malone and John Stockton, 
who lifted the Utah Jazz to the Na- 
tional Basketball Association finals. 

Jerry Rice, who is a week or two 
away from returning to the 49ers after 
having disproved the usual “out for 
the season” prediction following his 
September knee surgery. 

Jim Ley land, for guiding the Flor- 
ida Marlins to their World Series tri- 
umph before at least four of his best 
players were found to be too expens- 
ive for their bottom-line owner, 
Wayne Huizenga. 

The players of the Women's Na- 
tional Basketball Association and tbe 
American Basketball League, for 
playing basketball as it was meant to 
be played, with back doors and 
screens, instead of the tnunpolineball 
that develops too often in the National 
Basketball Association. 

Mills Lane, the Nevada boxing ref- 
eree and district court judge, for ruling 
firmly that Mike Tyson be disqualified 
for twice biting Holyfield T s right ear. 

Pete Sampras, despite being upset 


in the U.S. Open, for dominating 
mot’s tennis as few ever have. 

Rachel Robinson, whose elegance 
enhanced the 50th anniversary of the 
arrival of her husband, Jackie, In the 
big leagues. 

Lean Gast, who persisted for 20 
years in creating “When We Were 
Kings,” file film of fbe Muhammad 
Aii-George Foreman bout in Zaire 
that deserved itsAcademy Award for 
best documentary: 

Mario Lemieux, who had to retire 
prematurely from the Pittsburgh Pen- 
guins because of his long struggle in 
recuperating from Hodgkins disease 
and spinal surgery. 

Larry Doby, now recovering from 
kidney surgery, who was finally prop- 
erly honored this year for what he 
endured and accomplished as the 
American League's first African- 
American player in 1947. 

Dennis Byrd and A1 Toon, whose 
Jets careers each ended five years ago 
this weekend; Byid because of partial 
paralysis. Toon because of too many 
concussions. 

Pat LaFontaine, whose return from 
post-concussion syndrome has 
helped to ease Messier’s departure 
from the Rangers. 

Ron Wolf and Mike . Holmgren, 
who returned tbe Green Bay Packers 
* to the quality of life that Vince Lom- 
bardi created. 

Bill Parcells and Jim Fassel, who 
have put the New York Jets and the 
New York Giants not only backon the 
pro football map but also in first place 
and, probably, in the playoffs. 

Leon Hess, who could smile during 
his annual Thanksgiving Day address 
to the Jets and no longer needed to tell 
them, as he did two years ago, to 
“show ’em we’re not a bunch” of 
equine demeres. 





Unroof A jrfc- II"- I" * 

Pete Sampras enjoying a light moment at a practice session for the Davis Cup finals, which begin Friday. 


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American flag draped around his 
shoulders — an American quilt would 
look more appropriate in this climate. 

Tbe surprise is that there are just as 
many posters of Jonas Bjoikman, who is 
also expected to play in three of tbe five 
rubbers. A year ago, Bjoikman was 
ranked 69 in the worid, and when the 
Davis Cup captain, Cari-Axel Hageskog, 
had to choose a journeyman substitute to 
replace the injured Edberg in the decisive 
rubber of France’s stranger-than-fiction 
victory over Sweden in last year's final, 
he chose Bjoikman 's doubles partner, 
Nicklas KuM. 

Slighted by that decision — a slight 
made more complex by the existing 
antipathy between Hageskog and 
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of public indifference in the ** 

“We are starting to climb out of the 
valley,” said Hageskog, who wrote a 
letter to all of Sweden's tennis clubs 
asking for support for die final. To 
sweeten the pitch, club members were 
offered half-price tickets. 

The marketing plan was effective be- 


cause the Scandinavium, which seals 
approximately 1 2 ,000, has been sold out 
for weeks. The first sellout crowd will 
see Bjorkman versus Chang in the open-, 
in g rubber Friday, followed by Sampras 
versus Larsson. 

The surface, a relatively quick 
Tarafiex carpet, favors Bjorkman in the 
first match and Sampras in the second, 
bat the third-ranked Chong, the gome's 
finest counterpuncher. does not rattle 
easily. The ungainly, 25th-ranked 
Larsson is die only man to have beaten' 
Sampras twice this year. 

“It’s really a pick-em final,” 
Sampras said. 

If fate picks the Swedes, they would 
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The Associated Press 

Feyenoord Rotterdam 
scored a stunning 2-0 upset 
over Juventus of Turin in the 
Champions League, and now 
there is a strong possibility 
that die Italians might not 
make it to the quazterana!. 

Hie result Wednesday in 
Rotterdam meant that die 
Group B leader, Manchester 

United, needed only a point at 
home Thursday against the 
last-place Slovak team 
Kosice to clinch first place 
with a game to spare. 

Now, Juventus would have 
to be one of the best two run- 
ners-up of the six groups,. and 
after two losses in five games 
that looks unlikely. 

Bayern Munich, a three- 
time titlist, is almost in the 
quarterfinal after a 2-0 victory 
at Besiktas, and there’s a 
chance it will lead three Ger- 
man teams into die last eight. 

Bayer Leverkusen scored a 
2-0 victory over Lierse in 
Belgium and is neck and neck 
in Group F with Monaco, 
which came from two goals 
down to beat Sporting Lis- 
bon, 3-2, to at the top of the 
standings on goal difference. 

Leverkusen hosts Monaco 
in the final round of games 
Dec: 10. Both teams have 12 
points from five games, and 
both could advance, even 
with a tie. 

Bayern, also with 12 
points, can only be caught by 
Paris Saint-Germain. That 
will depend on some surprises 
in the Dec. 10 games. 

The French team still most 
gain three points despite a 1-0 
victory over IFK Goteborg in 
Sweden, and Bayern, which 


has a far superior 13-5 goal 
difference, hosts the last- 
place Swedes in its final 
game. 

Two goals by Julio Cruz in 
die last 23 minutes downed 
Juventus, which will not have 
Alessandro Del Piero in the 
final game against 
. Manchester United in Turin. 
Del Piero's second caution of 
the tournament means that he 
is suspended. 

The result in Rotterdam 
made up for a 5-1 thumping 
by Juventus, the 1996 titlist 
and last season’s runner-up, 
in Turin in September. 

Tbe Dutch team still has no 
chance of qualifying, 
however. Even if it steals 
second place from the Italian 
club, its record of two vic- 
tories and three losses mil not 
be enough for the best two 
runners-up spots. 

Goals by Carsten Jancker 
and Thomas Helmer in the 
first half put Bayern into 
cruise mode in Istanbul: Now 
the Munich club can concen- 
trate on winning a title it last 
won in 1976. 

Bayern would be celebrat- 
ing already except for Eric 
Rabesandnuana's strike for 
Paris Saint-Germain two 
minutes from the raid of the 
game in Gothenborg. 

Emerson and Ulf Kirsten 
gave Bayer Leverkusen its 
victory at Lierse. 

With the defending titlist, 
Borassia Dortpond, still in 
contention in Group A, the 
Ge rmans could have three 
names in the quarterfinal 
draw. 

Two goals in the first eight 
minutes of the game by Lois 
Miguel and Oceana put 
Sporting Lisboa in control at 


But David Trezeguet 
struck in the 66th minute and 
Thierry Henry hit two more 
goals, giving Monaco the 3-2 
victory. 

Neither Barcelona nor 
Newcastle will teach the 
The two clubs 
led as runners-up in their 

ona edged visiting 
Newcastle, l-0„ on a chip 
from 18 meters (20 yards) by 
the Brazilian forward Gio- 
vanni Despite the victory, 
Barcelona remains last in 
Group C, with Dynamo Kiev 
almost certain to 
Only six of the 12 


Cup games were played- 
j. Because the next 
. round of tbe Cup Winners Cup • 
is not until March, television 
networks ask UEFA to delay 
half of the Champions Cup 
games until Thursday so they, 
would have games to televise.; 

On Thursday, Parma meets 
Sparta Prague and Bomssia 
Dortmund hosts Galatasoray 
in Group A. Manchester 
United meets Slovakia in 
Group B; Dynamo Kiev 
meets PSV Eindhoven in; 
Group C, and Rosenborg 
hosts Real Madrid and 
Olympiakos visits FC Porto 
in Group D. 




onaco. 


. __ FaiSi &orihMffiaaBi 

Bayern Munich’s Carsten Jancker, left, scoring a 
header as Ertugrul Sagfaun of Besiktas tried to defend. 


CROSSWORD 


ACROSS 

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as Brine-cured 


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37 Frequent 

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40 Undermine 

41 Vituperates 

43 Gilt 


Solution to Puzzle of Nov. 27 


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oaa ansa aaaaaa 

H0fU3 anaam 
moaning agnaagma 
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miascia anag 
□□□Gian naan 303 
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gaag gams □□□□□ 
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ai 'Double 
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target . 

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ditches 

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and simplicity 

as Heaven 

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bedmate 

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others . 

4« Statistical bit 

49 M's put away for 
winter 

49 Mourning sites 
49 Student of 
Seneca 

w Give s wave? 
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SPORTS 


, Hawks Down 
Raptors With 
Overtime Show 

The Associated Press 

The AtJanto Hawks lied an NBA rec- 
ord wife their 1 Ith consecutive over- 
time victory, sending the Toronto Rap- 
tors to their 11th straight loss, 109-104, 
in double overtime. 

Ed Gray’s 3-point basket with 50 
seconds left in the second overtime gave 
visiting Atlanta a 105- 104 lead Wednes- 
day night, and he added a pair of free 
throws with 4-5 seconds left. 

Dikembe Mutombo scored a season- 
high 34 points and grabbed 19 rebounds 
for Atlanta. John Wallace bad 30 points 
to lead Toronto. 

LakarallS, Celtics 103 Elden Camp- 
ell scored 22 points and Nick Van Exel 

■* *iddie Jones led a decisive third. 

' 1 - - 

NBA Roundup 


quarter run as Los Angeles rebounded 
from its only loss of the season and beat 
host Boston. 

Antoine Walker had 28 points and 12 
rebounds for the Celtics, who had won 
six of their previous seven games to 
climb above J500 for the first time since 
opening night. 

Heat 84, M a gic so Miami ended the 
NBA’s longest winning streak for the 
second straight night, beating host Or- 
lando to take over sole possession of 
first place in the Atlantic Division. 

The Heat, who ended the Los Angeles 
k Lakers’ season-opening, 1 1-game 
f streak Tuesday night, played the same 
kind of suffocating defease to stop Or- 
lando’s stretch at six straight triumphs. 

Jamal Mashbum scored 19pointsand 
Miami held the Magic without a field 
goal for nearly nine minutes to start the 
fourth quarter. 

Cavaliers 95, Tears 89 Shawn Kemp 
and Wesley Person scored 18 points 
each as Cleveland used its inside ad- 
vantage to defeat host Philadelphia. Zy- 
dninas Dgauskas had 10 points and 11 
rebounds. Person added nine rebounds 
and Kemp had eight boards for Clev- 
eland. which has defeated the 76ers 1 1 
straight times and 24 of the last 25. 



The Hawks 1 Dikembe Mutombo, left, blocking the Raptors’ Reggie Slater. 


TVail Blazer* 96, Tfeaborwotvos 90 

Rookie Alvin W illiams scored eight of 
his 12 points in the fo ur th quarter as 
visiting Portland held off Minnesota. 
Rasbeed Wallace scored 16 points and 
Gary Trent added 14 as Portland im- 
proved to 7-2 on die road. 

Bucks ioi f Grindias 82 Glenn Robin- 
son scored 25 points and Terrell 
Brandon had 14,including 12duringthe 
decisive third quarter, as host Milwau- 
kee defeated Vancouver. 

Wizards 98, Spurs 94 Rod Strickland 
had 23 points and 17 assists as the Wiz- 
ards snapped a six-game losing streak. 


Suns in. Nets 99 Danny Manning 
scored his 10,000th career point and 
Phoenix made all 25 of its free throws to 
beat visiting New Jersey. 

Antonio McDyess paced six Phoenix 
players in double figures with 20 points 
and 10 rebounds. Jason Kidd finished 
with 16 points while Manning, Rex 
Chapman and Steve Nash all had 1 4 and 
Kevin Johnson 10. 

Clap pars 99 , Kings 97 Rodney Rogers 
had 20 points and 12 rebounds as Los 
Angeles ended a nine-game losing 
streak with its first home victory of the 
season. 


Orioles Let No. 1 Reliever Get Away 


By Murray Chass 

Nr nr York Tima Service 

The Baltimore Orioles can complain 
about piracy on the high seas, because 
the Toronto Blue Jays stole Randy My- 
ers away from them by way of an ocean 
liner docked in Barbados. 

Confident that they would be able to 
re-sign their No. 1 reliever, the Orioles 
offered the free- agent pitcher a two- 
year, SI 1 million contract Bnt the Blue 
Jays snatched him away on Wednesday 
with a three-year, $18 million deal that 
his agent David Fishof, negotiated from 
a cruise on the Monarch of the Seas. 

“I was disappointed with the Orioles’ 
initial offer,” Fishof said by telephone 
from Barbados, without disclosing the 
offer. “I think they were spending all 
the time crying to sign Brady Anderson. 
I think the owner just let it slide.” 

The Blue Jays, on the other hand, 
acted aggressively after they failed to 
get Robb Nen from the Florida Marlins 
last week. They also moved quickly in 
reaching agreement with Darrin Fletch- 
er, a free-agent catcher. 

The New York Yankees had con- 
sidered signing Fletcher, 31, who 
played for Montreal the past six seasons. 


batting .277 in 96 games this year. He 
accepted Toronto’s offer of two years 
and an option year for a guaranteed 
$4.35 million. 

“Bob was aggressive at first,” Sieve 
Greenberg, Fletcher’s agent, said, re- 
ferring to Bob Watson, the Yankees’ 
general manager. “But the Yankees 
were never in a position to make an 
offer, apparently, we talked but never 
got to the point where numbers were 
exchanged. The Blue Jays came out of 
left field.” 

The Blue Jays certainly blindsided 
the Orioles. Myers, in the second year of 
a two-year, $63 million contract, was 
the American League’s top closing 
pitcher this year, earning 45 saves in 46 
opportunities. 

The Orioles appreciated his work, but 
they did not want to give the 35-year-old 
left-hander a contract for more than two 
years. They felt confident that no one 
else would either. They were equally 
confident that they would sign him. 

* T think Pat did expect to sign him,' ’ 
Peter Angelos, the Orioles' owner, said, 
explaining that his general manager, Pat 
Gulick, had handled the negotiation. 
“Apparently there was a three-year of- 
fer versus a two-year offer at slightly 


more than we offered. The choice was, 
do you lose him or lose $18 million?” 

The Orioles have two choices. They 
can tty to sign another free agent. Rod 
Beck or Todd Worrell primarily, or they 
can give the closing pitcher’s job to Ar- 
thur Rhodes, Armando Benitez or both. 

Benitez is a 25-year-old right-hander 
whose fastball flirts with the IQO-mile- 
per-hour mark but who was the losing 
pitcher in two games and gave up the 
game -deciding hit in a third losing game 
in the American League championship 
series. 

Gord Ash, the Toronto general man- 
ager, said his interest in Myers de- 
veloped just last week, after the Marlins 
traded Nen to San Francisco. 

Ash and Fishof went back and forth in 
their negotiations over the past several 
days as the Monarch of the Seas sai led to 
such Caribbean locales as St Thomas, 
Martinique and Barbados. 

. “Toronto really showed a lot of in- 
terest,” Fishof said, adding quickly that 
he had to hang up the phone. The Mon- 
arch of the Seas was preparing to sail 
“Yesterday 1 had to hang up on Randy,” 
he said. “I almost missed the boat.” 

In the end, though, it was the Orioles 
who missed the boat. 


Penguins 9 Unbeaten Streak: 6 Games 


The Associated Press 

Fredrik Olausson and Alex Hicks 
scored third-period goals as the Pitts- 
burgh Penguins extended their un- 
beaten streak to six games with a 3-2 
victory over the visiting Carolina Hur- 
ricanes. 

Olausson, who set up Pittsburgh’s 
first goal Wednesday night, scored the 
tie-breaker at 2:58 of the third period. 
Hicks then picked off Jeff Brown’s 
pass at 6:46 and bear Sean Burke be- 
tween the pads on a 2 -on- 1 . 

Ftyare 3, Sabres 1 Rod 
Brind' Amour scored two goals and 
Garth Snow stopped 26 shots to lead 
visiting Philadelphia over Buffalo. 

Eric Desjardins scored the other 
goal for the Flyers, who snapped a 


two-game losing streak. Michael Peca 
scored for Buffalo, which has lost four 
of its last six games. The Sabres were 
outshot in first period, 9-3, but held a 


NHL Roundup 


13-7 advantage in the second and a 27- 
25 edge for the game. 

Islanders 4, Rangers 1 Robert 
Reichel had three goals and an assist, 
including his 400th NHL poinr, to help 
the [slanders snap a four-game winless 
streak at home. 

Ca na dians 6, Capitals 5 Shayne Cor- 
son and Mark Recchi scored two goals 
each as visiting Montreal- ended its 
seven-game losing streak. Richard 
Zednik had two goals for Washington. 


Lightning 3, Avalanche 3 Alex Se- 

livanov's goal with 6:48 left in reg- 
ulation gave host Tampa Bay a tie with 
Colorado. 

Panthers 10, Bruins 5 The Panthers 

routed visiting Boston with a fran- 
chise-high goal total as Ray Sheppard 
scored three times. 

Red Wings 4, Senators 1 Kris Draper 
had a goal and an assist as host Detroit 
extended Ottawa's winless streak to 
nine games. 

Stars 4, Kings i The surging Mike 
Modano had two goals and an assist 
and Ed Belfour made 24 saves as Dal- 
las beat visiting Los Angeles. 

Mighty Ducks 2, Devils O The Mighty 
Ducks snapped goal tender Martin 
Brodeur’s 12-game winning streak. 


Scoreboard 


BASKETBALL 


NBA Standings 


ATLANTIC OtVIStON 



W 

L 

Pd 

GB 

Miami 

10 

4 

.714 

— 

New York 

9 

4 

492 

■A 

Orion da 

9 

5 

443 

1 

New Jersey 

B 

5 

415 

lto 

Boston 

7 

7 

500 

3 

Washington 

5 

10 

-333 

5Vr 

PhHudetphto 3 8 

central omoiorr 

-273 

51* 

Atlanta 

12 

2 

■857 

— 

CTeirtotte 

9 

3 

JS0 

2 

Milwaukee 

8 

S 

415 

3V4 

Ctricoga 

8 

6 

-571 

4 

Ctovciand 

7 

6 

538 

4V5 

Indiana 

5 

6 

455 

5V4 

Detroit 

5 

10 

-333 

754 

Toronto 

1 

13 

-C71 

11 

WUTtMCONntD 

MWESTMYIGKM 

ICE 



W 

L 

Pet 

GB 

San Antonio 

8 

6 

J71 

— 

Houston 

6 

5 

34S 

Vi 

Utah 

7 

6 

338 

■A 

Minnesota 

6 

7 

462 

T’A 

Vancouver 

6 

9 

400 

ZVi 

Defies 

3 

ID 

231 

4 Vi 

Denver 

0 12 

PAOFicotvisroM 

.000 

7 

LA. Lakers 

12 

1 

.923 

— 

Seattle 

11 

3 

.786 

1W 

Phoenix 

8 

2 

J00 

2W 

Portland 

to 

4 

.714 

2V, 

Socramento 

5 

9 

357 

754 

LA. Uppers 

2 

12 

.143 

1054 

Golden State 

1 

ll 

083 

10H 


wwui mri w«b 

ULLokafS 21 * 27—118 

ivtu 23 » 24 26 — 103 


LJU Campbell 8-12 64 22. Hony 7-9 7-12 
21. Jones 8-12 1-1 2ft B: Wafter9-19 B-172& 
Knight 7-U 44 14 Mercer B- 15 1-4 1& 
Reminds— Las Angela SO (Horry 9), 
Boston49(Wtalkfin 2). Assists— Los Angeles 
27 (Von Ent 9). Boston 24 (Water 7). 
Atlanta 21 23 20 21 12 11—189 
Toronto 19 28 19 19 13 6-194 
A: Mutombo 14-28 6-11 34Laettner9-145- 
7 23. Gray 7-1344 2ft T:Wdtocel3-28 4-5 3ft 
Jones 9-20 3-4 21. Stoudmae 7-20 5-5 21. 
Rebounds— Atlanta 68 (Mutombo 19), 
Toronto 61 (Jones 16). Assets— Atlanta 28 
(Blaylock 13). Toronto Z7 (Stoodareire 13). 
Oraabnd 22 21 21 26-95 

num—qmin - a n n »- a* 
C Kemp 7*154-614 Pawn 5-1554 lb P: 
Staddnun 4-13 10-11 19. Jackson T9 24 1 7. 
Raboends— CfereJond S3 (Ugooafas 11), 

PMnMpMo 47 Doetaon 7). Assists— 
Ctewriand 22 (Refsois Anderson 63, 
PWtodeDMi 24 (henon 8). 

Miami 23 33 16 12- 84 

Ortaodo If 1Z 17 12-60 

M: Mashbarn 8-15 84 19, Austin 5-15 54 
1*0: P-Hantaway 6-15 7-10 19, Schoyes 2-5 
44 4 RebMsadfr— Miami 61 (Brawn 15), 
Orlando 48 (Strang 10). AssMs-Mlani 13 
OJiantaMyS). Orimrio 13 (Armstrong 51- 
Portland 25 26 18 27- 96 

Minnesota 16 23 19 32- 98 

P: Wallace 5-11 54 16 Trent 6-1 2 2-4 1AM: 
GogBotta 5-a 8-9 14 MIWwII 6-10 54 17. 
Reboend*— Porter*/ 58 CSaboah 97. 
Minnesota 49 (Roberts 7). Asststs-Porltand 
20 (Wlfflaras O, Minnesota 20 (Gug Gotta, 
Mitchell Porter 4). 

Vancouver 22 15 22 23- 82 

MIwautM 17 21 33 30-10! 

V: Abdw-RoMm 7-17 5-7 14 Reeves A-9 1-3 

IX M: Robinson 12-21 1-2 2SAIen 5-12 WU 
Brandon 6-13 1-2 14. GMam 5-8 44 14. 
Btboaodv— Vancouver 51 {Reeves 9). MB- 
■oukee 58 (Johnson 12)- Assists— Vancouver 
IS (Danteis 4), MBtMutao 21 (Bmndon ST 

25 21 27 23 — N 


Saa Antonie 16 23 24 31— 94 

W:Howani 11-18 3-724 Webber 11 -23 0-2 
34 Strickland 8-1 1 7-13 2* SA-- Robinson 14- 
21 44 34 Dunam 9-15 04 14 
Roberta fli W a s hington 45 (Davis 8), Son 
Antonio 48 (Dunam 141. 
Assists— Washington 25 Striddond 171, San 
Antonio 25 (Johnson 10). 

New Jersey 18 24 37 20- 99 

Phoenix 29 29 28 25-111 

NJj Cassell 9-23 44 24 Gaffing 515 7-8 
17, tattles 6-14 4-4 17; P: McDyess 810 4-4 
2ft Ndd 7-92-2 16. Rsbotmds— New Jersey 
51 Uawnoms 12), Pheenta 44 (McDysm 
101. Aislrtt -Hew Jersey 3A(C— dHOMes 
7). Phoenix 26 (Johnson 8). 

Sacramento 21 19 27 30- 97 

LA. Clippers 29 29 16 26- 99 

S: Richmond 13-291-1 3L WBom*on9-71 5 
7 21, Owens 10-1604 2ft UL Rogers 7-9 510 
2ft Boxy 7-132-3 19. Robowuto-Sacramento 
45 (Owens 181 Las Angeles S3 (Rogers 12). 
Assists Soopraewta 16 (Rktonond 5), Lae 
Angelas 13 (Rjdmtan 4}. 

College Basketball 


kaui mvttahomal 

RNAL 

Duka 9& Arizona 87 

THHDPLAI* 
Kentucky 77, Missouri 55 


HOCKEY 


NHL Stagings 



ATLANTIC DflnSKH* 

W L T Pts GF GA 
New Jersey 16 7 0 33 66 40 

Ptlfcdetphta 14 8 3 31 72 58 


Washington 

13 9 

3 

29 

78 

69 

N.Y. Istanoets 

10 10 

4 

24 

65 

64 

N.Y. Rangers 

B 11 

7 

23 

67 

72 

Florida 

8 12 

4 

20 

58 

73 

Tampa Bay 

4 16 

3 

11 

47 

B) 

NORTHEAST DIVISION 




W L 

T 

Pis 

GF 

GA 

Montreal 

15 7 

3 

33 

82 

59 

Pittsburgh 

13 9 

5 

31 

76 

68 

Boston 

11 10 

4 

26 

63 

69 

Carolina 

9 12 

4 

22 

68 

73 

Ottawa 

9 12 

4 

22 

63 

64 

Buffalo 

7 12 

4 

18 

60 

70 

WUII1M COffHKSNa 

I 


CENTHAL bnnSWN 



. - 

W-L 

T 

Mb 

«F 

OA 

Demur 

16 b 

4 

36 

88 

60 

Data 

16 7 

4 

36 

86 

62 

5T. Louis 

15 S 

2 

32 

74 

55 

Ptmenh 

12 9 

2 

26 

70 

62 

Chicugo 

9 13 

3 

21 

54 

65 

Toronto 

8 12 

3 

19 

45 

63 

pacific omsnN 




W L 

T 

Pts 

GF 

GA 

Cotorado 

11 6 

8 

30 

74 

64 

Los Angeles 

11 9 

4 

26 

79 

68 

Anaheim 

10 11 

5 

25 

60 

72 

San Jose 

9 15 

2 

20 

68 

78 

Edmonton 

■7 12 

6 

20 

57 

78 

Vancouver 

7 14 

3 

17 

65 

83 

Grigory 

4 15 

6 

M 

62 

81 


WBUDBeri USDt-TS 


Canton 1 8 1—2 

Pittsburgh 1 | 2-3 

First Period: C-OfieiU S (Brawn Primeau) 
(pp). 2. P -Barnes 6 (Olausson) Second 
Period: None. That! Period; P-Otausson 2 
(Long) 4 P-Htaksl i C-EmersonB (GNeOD 
Shots on goed: C- 1344-27. P- 12-17-7-46. 
Gooles: C-Bwfce. P-Borrasso. 

PModetoWn 2 I 0-3 

Buffalo 0 0 1— t 

Ffrst Period: P-Brintf Amour 70 (NBnlmoa, 
Undrosj (pp). l P-Brind Amour 11 (Grattan. 
Thertenj second Period: ' P-Desjaidlns 4 


(LeCtato Therien) Third Period: B-Peca 4 
(Wilson) Shots an god: P- 9-7-9—25. B- 515 
1 1-27. Goaftes: P-Snaw. B-Hasek. 

N.Y. Rangers 0 0 1-1 

N.Y. Islanders 1 I 2-4 

Rnt Period: N.Y^Refchd ID (Nemddnw. 
PbHTy) Second Period: N.Y.4onssnn 5 
(Reichel Green) (pp). Third Period: N.Y.- 
Rekhd 11 tSnroflnskO 4 H.Y.- Reichel 12, 
(pp). & N.Y.-Knvotev 5 (Graves, Staudtand) 
Shots oa gMl: Rangers 84-4—14 Islanders 

8- 7-10— 25 Goalies: Rangers- Richter. 

Wonders- Soto. 

Montrad 2 3 1—6 

Washington 1 2 2-5 

Rnt ParioAM-Caraon 10 (Kotvu, RecriiD 5 
M-Corsoall (Kotvu, Malakhov) (ppl.3, W- 
ZednBt 6 CKonowokhuk, Tinonfi) Second 
Period: W-ZocMk 7 (Hous/ey, Konowaidiuk) 
& M-Bure 7 (Rudnsky) 6, W-Bondra 17 
(Bulb Housley) 7, M-ReaM ll (Rudnsky, 
Damptwusse) ft M-Qaintai 2 CThonrtorv 
Tucker) Third Period: W-Toras 2 (Gonchar, 
Housley) Id M-ReocW 12 (Corson, 
Damphousse) ll, W-, Tinordt 6 (Hunter, 
M Her) Shots an god: M- 9-11-7-27. W- 164- 

9- 31. Goal its: M-TObault W-Knhl®, 
Ronford. 

Colorado 2 C 1 0—3 

Tbmpa Bay 0 I 2 0-3 

Rnt Parted: C-SokJc 13 (Doadmotsh, 
Donovan) X C-Forsbeig 7 (Ozotlrsh, Sakk) 
(pp). Second Period: T- Norton 3 (Ha mrffc 
Renders) (PR). TMrd Period: T-DeBnak 1 
(Brousaeoul 5, C -Cotaet 6. (pp). 6. T- 
Seflvanov 7 (Longkow Dykhuis) Owrttae: 
None. Shots an goat C- 11-15154-34 T- 

10- 157-0—30. GocBesrC-Rov. T-Puppa. 

Boston 2 3 1—5 

Florida 4 4 3-10 

Fast Period: B- Samsonov 3 (Khrisfidv 
Bourque) Z F-Rtzgerold 4 (Weils, Lindsay} 
4 F-, Whitney 7 (JovonovskO 4 F-Whitney 8 
(La us) & F-Shoppcrd 4 (Mdtonby, 
Washburn) 6, B-, AJRson 8 (Khristidw EBetfl 
(pp). Second Period: F-Gagner 10 (Muller, 


Corkner) ft F-Washhvffl 2 (Whitney, 
Mebanby) (pp).9, B-, Khrisfldi 8 (Samsonov, 
Tlmonder) 1ft B-Taytar 8 (Sweeney) 11, F- 
Sheppad 5 (Mettanby) 12, F-NemirevEky 3 
(Garpenlov) Thkd Period— U F- 
Nentirawky 4 (Whlbiey, Garpenkw) 14 F- 
Sheppanl 6 (Meilanby. Corkner) IS B- 
Malkoc 1 (Dima to. Toy tor) Shots on god: B- 
1512-10-37. F- 8-157-34 GodBes: B- 
Dofoe, Carey. F-VanWesbrouck. 

Ottawa D 0 1—1 

Detroit 2 1 1-4 

Ffest Period: D-Shonatnn 11 (Larionov. 
ErikssoiO 5 D-McCorty 6 (Yzermoa Brawn) 
(pp). Second Period: 15-Draper ft Third 
Ported: D-Dandenoult 4 (Draper; Fetisov) S 
O-Alfredmn 8 (Von Allen, Anredson) Shots 
00 goal: O- 57-7-22. D- 1511-8-32. 
Godlos: (5 Rhodes, Tugnutt D-Hodson. 

Las Angolas 0 1 0-1 

Dados 2 0 2-4 

Fbst Period: D-LmgenbniwierlO (Hatcher, 
Lehffnan) Z D-Madano 12 (Nteuwendyk) 
(pp). Second Period: LA.-Tsyptotov 6 
(Perreoutt Boucher) Third Period: E5 
LehHnon 7 (Modono, Langenbrunneri & D- 
Modano 13 (Zubov. Syttar) Shots oa god: 
LA.- 84-11—25. 15 157-8-24 GaaDas: 
LA^Flset Qwbot. D-Belfour. 

New Jersey 0 8 0-0 

Anaheim 1 0 1—2 

Hrst Period: A-Janssens 1 (Drury, Rydiel) 
secead Period: None. TWtd Period: A- 
RuaJiln 3 (Setarne) (on). Shots on goal: 
NJ-- 51 M 4-29. A 9-44-19. Gocfies: 
NJ.-Bradear. ArHehert. 


CRICKET 


imiAVS.su LANKA 
SBCOtB TEST. S» MY 
THURSDAY. M NAOPUR, MXA 
India: 401 -5 


AUSIRJUIA V*. NSW Z1A1AND 
THIRD TEST, 1ST DAT 
THURSDAT. M HOBART. AUSTRALIA 
AustTOBa: 39-0 
Play abandoned due to rain. 



Champions Cup 


FUST ROUND 

* OROUPB 

Feyenoord Z Jinrenfus o( Turin 0 
OTANDOMUe Man. United 12 pomhc Ju- . 
trentos ft Fayenoord 4 Kosice 4 
GROUP c 

Bandana 1, Newcastle 0 
STAMDAHOK Sinamo Ktev 10 paints PSV 
Eindhoven 7; Newcastle 4 Barcelona 4. 
GROUP E 

Bayern Munidi Z BesSdas 0 
Parts-SL Germain 1, IFK Gdebarg 0 
i m ro i w m Bayern Munidi 12 points 
PSG 9, Besildas & IFK Goteborg 3. 

GROUP F 

AS Monaco 1 Sporting Lisbon 2 
Boyer Leverkusen Z Ueree 0 
snjaBfutasc A5 Monaco 12 points. Bayer 
Leverkusen 1Z- Sporting Lisbon 4- Lfcree 1. 

DWUM PR8MIIR UAUUI 

Chelsea Z Everton 0 

STAMMiasi Man. Untied 31 pafids; Black- 
bum 3ft Cheiseo 2ft Anend V; Leeds 2 tc 
Derby 23. Leicester 23; Uverpoal 22 New- 
castle 21; Crystal Polace 19, Wimbledon 19! 
Aston Villa 1& Coventry 17; Southampton 14 
West Horn 16; Shefl. Wednesday 15; Totten- 
ham U Ballon li Bamsiey II Everton IZ 


TRANSITIONS 


AMERICAN LEAGUE 

chkago— Put RHP Jafl Darwin on waivers 


tar purpose of giving Mm his unconditional 
release. 

oaklahd— Traded RHP Don Wengeri and 
INF DuvU Newhan to San Diego tar RHP 
Doug Boddterand INF Jorge Vekmdta. 

SEATTLE— Exercised 1999 option on LHP 
Jamie Moyer. Oabned RHP Cameron Smith 
oft waivers from San Dlego.eL 
Toronto— Agreed to terms wtth LHP 
Randy Myers on Zyearamtroa and C Darrin 
FMcher on 2-year contract. 

NATIONAL LEAGUE 

Houston— Agreed to trams with RHP 
Doug Henry on 2-yev contract. 

n-y. Mtrrv— Agreed to terms with LHP Just 
. Ushtnmatsu on mlner-toogue amtracL 
sam fmmcoco— Agreed lo terms with OF 
Stan Javier on 2-year contract Named Jim 
Davenport manager at Fresno. PCL 
rasktoaul 

HATKMAL BASKETBALL AltSOCUkTION • 

Toronto— Put F Tracy McGrady and C 
Zon Tabak on Mured RsL Adhated F Cartas 
Rogers ftum tnfured fist 

FOOTZALL 

NATIONAL FOOTBALL LEAGUE 
balt [mors— S igned CB John WlUta. 
Signed DE Dwalne Robins to practice squad. 
Waived Of. Bernard Dafrrey. 

GREEN SAY-5 Igned DB Anthony Fogle to 
pradlcr squad. 

Indiana eous-SIgned DBAnthoneLatrto 
practice squad. 

san Dieoo-Ptn TE Brian Rochcantnlvretf 
reserve. Signed OT Marcus Price to practice 
squad. Signed TE Shannon MHchaft 
san FRANasco-ShraedCB Mato Bradley 
to praedee squad. 

TAMM bay— Signed LB Derrick Breaks to 
5yeor contract extension. 

HOaOT 

NATIONAL HOCKEY LEAGUE 
BOSTON— Claimed D Darren Van Impe oft 
wuiwfs from Anaheim. 

coldrado— Loaned D Pascal Trepontorto 
Hcistrey, AHL 


DENNIS THE MENACE 





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NONSEQUITUR DOONESBURY 
























PAGE 24 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, NOVEMBER 28, 1997 


POSTCARD 


Page 90*401773 


By Joe Mozingo 

Las Angeles Tints Service 

L OS ANGELES — It’s a 
secret language among 
friends. 

Ir may look like a jumble of 
numbers and asterisks, but 
it’s actually a growing lex- 
icon of the mundane, offbeat 
and obscene. 

While the language doesn't 
have a name, young people 
afcross the* United States rely 
on it to communicate those 
little messages that don’t war- 
rant a long conversation; 
“good night,” “you're on 
my mind” or something de- 
cidedly less friendly. 
Welcome to the world of 
ir-speak.- 

ly dialing numb ers that look 
Jy like digital letters — 
_ l-side up or upside down — 
die young linguists put together 
words and phrases. ‘‘They're 
on the cutting edge," said Mi- 
chael Haddad, of Soft-cell 
Communications in Beverly 
Hills. California. “They’re die 
ones inventing the uses of die 
pager." 

And as young people, in 
their teens to their early 20s, 
become the fastest growing 
group of pager users, compa- 
nies from Motorola to MTV 
are scrambling to carer to diem. 
“Young people today are ab- 
solutely using pagers as' a way 
to stay in touch with their 
■ friends and with their famil- 
ies," said Caroline Mocl 
spokeswoman for 
which is now selling pagers. 

The way they stay in touch 
is by relaying a code that con- 
veys a mix of standard 
phrases and slang. 

Suzie Mouradian, 1 7, a stu- 
dent at Pasadena High 
School, used to carry a frayed 
crib sheet around with her th3t 
decoded scores of numerical 
messages. When she started 
high school three years ago. 
students- were just beginning 
to experiment with this new 


way to communicate. ‘Tve 
had so many people ask me to 
write out sheets,” said Suzie. 
“Now, I know people who 
page like 10 people good 
night.” • 

Sometimes pager-speak is 
a local dialect understood 
only among a group of 
friends, but some of the beep- 
er codes follow a logic un-. 
derstood across regional and 
school boundaries. 

For example, the command 
“go home" is written 
90*40 1773. In the digital 
world, 9 looks like g, 0’s are 
obvious O’s, 4 is a legless H. 

1 next to two sevens approx- 
imates the shape of an M, and 
3 is a backward E. 

In New Yotk City, Katrina 
Schultz, 17, spells good morn- 
ing the same way people in the 
know do in Los Angeles. In die 
beginning, Schultz said. *T 
had to explain it to my boy- 
friend! I had to give him a list 
of which numbers stand for 
which letters.” 

□ 

But the code is not limited 
te English. In San Marcos in 
North San Diego County, 
T ania Vergara, 18, pages her 
friends in Spanish. After she 
types the phone number 
where she is, she leaves die 
numbers S0538. which if ro-. 
tated upside down resembles 
the word besos, or kisses. 

“That’s how they know 
it's me,” she said. 

Suzie’s cousin likes to page 
her, “Hi, loser” — which is 
41*700512 — or mare derog- 
atory names that she has to 
figure out on her own. 

Of course, some of die 
codes describe drugs and sex. 
For example, there's a three- 
digit code that means, * ‘Want 
to smoke pot?” “If some- 
body's got some weed, they 
use 420 for it," said Jon Arm- 
strong, a high school senior 
living in New Berlin, a suburb 
of Milwaukee, Wisconsin. 


Will the Next Century’s Picasso Be Chinese? 


1 


By Sarah Jay 

New York Tunes Service 


S HANGHAI — When the director 
of a Paris gallery arrived here re* 
cently for an international art show, he 
carried with him a handful of paint- 
ings by modern masters- He had little 
hope qf selling them, but the director. 

Jean-Marc DeCrop, felt sure that the 
pieces, some of which were having 
their China debuts, would draw a 
crowd of admirers. 

He had at least two surprises. One 
was that he was able to sell a Picasso 
engraving for $10,000 to a Shanghai 
businessman. The other was the pub- 
lic's interest. 

“It’s clear that for some people, it's 
absolutely, completely new, said 
DeCrop, whose Galerie d'Art Sepia 
also has offices in Hong Kong and 
Geneva. “They said: ‘Please explain 
to me. What is die meaning? What 
does the artist want to represent?’ 

They did that for my abstract painting, 
which is all right. But they even did 
that for the Renoir, which is just a still 
life of a plum and peach. They said: 

’Explain. What is the meaning of the 
fruit?’ ” DeCrop said he had not ex- 
pected so much demand for pedago- 
gical explanations, or for pamphlets 
explaining the work. “I didn't mink it 
was necessary." be said, “because 
Renoir is the most important Impres- 
sionist. There are so many books 
about him. But still they're asking, ‘Who is this guy?’ " 

Hie average educated Chinese citizen today is as un- 
familiar with modem Western art as his American coun- 
terpart is of traditional Eastern art. Of course, there are 
exceptions. Picasso and van Gogh, for example, are famous 
here. But most others, from Marcel Duchamp to Andy 
Warhol, are strangers. 

Nevertheless, curators and international galleries say 
there is growing interest here. That is good news for Shang- 
hai, which shows definitive signs of becoming the next 
economic powerhouse of Asia but which has yet to stand on 
its own in die arts. 

Meanwhile, among some younger Chinese artists them- 
selves, another trend is emerging. Many of them already 
know 20th-century Western art, having lived abroad or 
studied on their own. (Art schools are still teaching Russian 
realism.) But rather than drawing inspiration from the West, 
these artists say they want to shy away from it and discover 
their own style. And the galleries are urging them on. 
DeCrop said. “Hie Picasso of the 21st century will be 
Chinese — many people are convinced of that." 



Picasso is famous in China, but most other modern artists, like Andy Warhol, are strangers. 

Shi Hoi, 42, an artist from Hangzhou whose installations 
use thin rolls of rice paper and twine, said: ‘ ‘It's important to 
go out to visit Western countries. But in the end, we must 
return to China. In my opinion, Chinese artists will find a 
distinctive way, and it Won’t combine with influences from 
the West.” 

When Deng Xiaoping opened China to the West in 1979. 

Chinese artists were starved for new ideas. Grabbing at any 
art books they could find, they learned about 100 years of 
Western art in one decade. 

This led to a period of emulation. 

“It was very straight, very direct,” said Mi Qiu. an artist 
and professor who returned to Shanghai in 1995 after living 
in Norway for 1 1 years. “You could see exactly which artist 
they were following.” 

Then came the early ’90s and its obsession with political 
pop, and some Chinese artists became stars, at home and 
abroad, with their paintings that parodied Mao and die 
revolutionary worker. That has since faded The new gen- 
eration of artists, which has dimme r memories of the 
Cultural Revolution, is more interested in the future, in 


technology and in finding a 
identity. 

Mi, who teaches at the Shi 
University College of Fine Arts, si 
this was creating a generation oj 
artists who approadi Western art djf-j 
ferently. He said he was recently 
struck by the indifference sotw ani 
students displayed when offered tnei 

chance to see an original work by van i 

Gogh. . 

“If this were the ' S 9s,,ihey 
would’ve been crazy to see it. saia 
Mi. who is helping to organize a 
biennial for China in 
Nowadays, he said students say 
simply, “OX, like, it’s something 

very normal, nothing special-. 

Even some older artists, like Chen 
Qiaoqiao, 43, are reluctant to ®-PP ear 
too connected to the West- Cneu, 
who began painting in 1990 alter 
studying Chinese literature, had no 
formal art training. As unlikely as it 
may seem from her paintings- which 
are more than vaguely reminiscent of 
Matisse’s dancers, Chen says die 
mlcex inspiration only from herself^ 
“Of course, I have read books,” 
Chen said, “but I usually don't fol- 
low anyone. I’m just painting what I 
want, just painting the feeling.” 

Still, among the educated general 
public there appears to be much curi- 
osity about Western art. A recent 
. collaboration by the Shanghai Mu- 
seum and the Guggenheim in New 
York brought together 58 works by 47 modem artists, 
including Mondrian, Miro and Pollock. The exhibition at- 
tracted 241,000 visitors in three months. 

For the most part, contemporary artists and modem- 
minded curators here seem to be quietly doing what they 
want without antagonizing the Chinese government, which 
is no advocate of contemporary art, Western or Chinese. For 
example, when Mi returned from Europe to open the Mi Qiu 
Modem Art Workshop, he at first faced opposition from 
government officials, which disapproved of the word mod' 
era in the name. By holding his ground, he was eventually 
granted permission. , 1 

Like other artists. Sun Guojuan said she did hot worry 
much about the government’s opinion of her work. Nev- 
ertheless, Sun, 38, who paints impressionistic red flowers in 
the spirit of Georgia O’Keeffe, sard some of her paintings 
were “too sexual" and would be frowned upon by the 
government, perhaps even the public. 

“The only thing the government can do is to close some 
exhibitions.” Sun said. “They can’t go to the studio and say, 
‘Stop.’ In the studio, you’re free.” 


MUSIC 


PEOPLE 


From Hollywood Horror Movies to Lincoln Center 


By Mike Zwerin 

Inirrnarumul Herald Tribune 


B ERLIN — Eric Ross is a multi-instru- 
mentalist who plays piano, electronic 


keyboards and theremin. 



le is also, if not the only, one of the very 
few contemporary composers to write for the 
theremin. The precursor of the’ synthesizer, 
invented by the Russian engineer Leon 
Theremin in 1924. it has been enjoying 
something of a comeback. 

Theremin was bom in 1896 in Sl Peters- 
burg. After studying at the Petrograd Psycho- 
Technical Institute, he demonstrated an early 
model thcrerainvox (later shortened to 
theremin) for Lenin. Lenin was sure that elec- 
tronics would play a key role in building 
communism. Theremin personified Soviet en- 
gineering brilliance. Lenin sent him on a long 
demonstration tour. 

A well-known figure in the international 
creative community, Theremin came to 
America and setup shop in New York in 1928. 

After his performance before a gathering of 
musicians, scientists and patrons in the Grand 
Ballroom of the Plaza Hotel, RCA built 500 
theremius. 

This electronic instrument that the instru- 
mentalist does not need to touch was invented 
before the electric guitar. Pitch and tone 
volume are controlled by the distance between 
die player's hands and their distance from the 
instrument It is like making music from thin air. 

Ross's involvement began in the late ’70s. Leaf- 
ing through a catalogue in a studio, he found an 
article describing die instrument and there was an 
address to order a build-your-own kit He put it 
together with some engineer friends. It did not take 
him long to realize that learning to make music with 
it would not be easy. It was no toy. At the time, he 
was a classical pianist looking to establish his own 
voice. . _ 

The eerie quivering wail raised by wavy hand certo for Theremin and Orchestra was premiered at 
gestures, like conjuring some sort of witch's brew, Lincoln Center. The New York Times has called 


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Eric Ross playing bis theremin in Berlin. 


played with jazzmen like Lany Coryell and Yuseff 
Yancy (also a fellow theremist) and he led a group 
including trumpet, drums, electric bass, guitar, a 
Moog synthesizer and three theremins at this year’s 
Berlin Jazz FestivaL 

On the other side of the fusion, be has appeared at 
the American Festival of Microtonal Music. On his 
album “Songs for Synthesized Soprano" on the 
Dona label, a soprano voice runs through a Moog 
synthesizer accompanied by theremins. His Coo- 


became a trademark Hollywood sound. The theremin 
accompanied honor movies and dramas including 
“The Bride of Frankenstein," “The Day the Earth 
Stood Still," “The Lost Weekend” and “Spell- 
bound.” It played the “vibration" sound on the 
Beach Boys 'hit “Good Vibrations." Lothar andThe 
Hand People were into theremins. More recen t l y , it 
played a role on the sound track of “Ed Wood." 

Ross represents a trend to meld different styles 
under the contemporary music banner. He has 


his music “a unique blend of classical, avant- 
garde, serial andjazz." 

In the 1930s, Theremin demonstrated theremins 
in Carnegie Hall. And there were concerts in the 
Paris Opera and London’s Royal Albert Hall. As- 
sociates and colleagues included the revolutionary 
composer Joseph SchiUinger, and Albert Einstein, 
a classical violinist, played theremin duets with 
him. After inventing an early model burglar alarm. 
Theremin disappeared into the gulag in 1938. 


According to a publicity release for Steve 
M. Martin's feature-length documentary 
“Theremin: An Electronic Odyssey.” 
Theremin “became a victim of Stalin's para- 
noid purge. Kidnapped from his Manhattan 
studio in front of his American wife, black 
ballet dancer Lavinia Williams, by the NKVD 
(forerunner of the KGB) and dragged back to 
Russia, he was thrown into prison for ‘anti- 
Soviet propaganda.’ ” (Theremin gave dif- 
ferent versions of this to other people). 

After some years in Siberia, living in effect 
under house arrest, he helped develop an 
electronic eavesdropping device for the So- 
viet regime. 

A German newspaper reported him dead. 
His name was not even mentioned in an article 
about Soviet electronic music. But he taught 
at the Moscow Conservatory of Mnsic for 10 
years, and he built new theremins there. 

Although “rehabilitated,” he was fired by 
the Moscow Conservatory for continuing his 
work in electronic music. The postwar party 
line had it that electricity should not be used to 
create music. At the time, according to Ross: 
“Theremin was living in a poor small apart- 
ment in Moscow. He had worked on top- 
secret projects so foreigners were not per- 
mitted to see him, and he was hot allowed to 
leave the country. Steve Martin met him in the 
process of making his documentary. When 
he’d begun be had no idea that Theremin was 
still alive. Martin arranged to bring him to 
New York.” Ross lives in Binghamton. New York. 
In 1993, Martin called him up there and said he was 
with the inventor in a Manhattan hotel. If he came 
right down they coukl meet It was a three-hour 
drive to the city, and Ross left immediately: 

“Theremin was amazed when 2 hooked up my 
wah-wah pedal. He’d never beard that. He was still 
sharp. He told me he was planning to build a 
polyphonic theremin that could play chords." 

Theremin died that year, at the age of 97. Syn- 
thesizer pioneer Robert Moog, who had been in- 
fluenced by Theremin, formed a company to man- 
ufacture high-tech theremins in Asheville, North 
Carolina. This summer, a Theremin Festival in 
Portland, Maine — the first of its kind — was open 
to students and there were master classes and 
symposiums. Moog was there. Martin talked about 
his film, which had won the documentary prize at 
the Sundance festival 

1 ‘There was a lot of press,” Ross says. “People 
are getting interested m the theremin again. We 
were even on ‘Good Morning America.’ ” 


B EAVIS and Butt-bead 
are no more. Both: March 
8, 1993. Died: Nov. 28, 1997. 

They were — and always will 
be — 14. A suggested epitaph 
from their creator, Mike 
Judge: “They never scored.” 

The head-banging, video-ad- 
dicted, hormonally chal- 
lenged, underachieving, fire- 
loving. fast food-saving de- 
linquents are hanging u up 
after four and a half fun-filled 
(or frightening) years on 
MTV. Why cut down the in- 
ventors of frog baseball the 
two 'dimmest bulbs at High- 
land High, before they ever 
turn twentysomething? “It’s‘ 
funny,” said Judge, the mind 
behind (heh, heh) the menace 
once labeled “comic cretins” 
by The New York Times. “I 
can imagine them down to ba- 
bies. and I can imagine them Depardieu at the funeral service for the French singer 
60 years old- But I have trouble Barbara in the Parisian suburb of Bagneux. 
imagining those adult years." 

What Judge refers Ip as “Beavis and Butt- 
head's Last Waltz," actually titled “Beavis and 
Butt-bead Are Dari," airs Friday night 

□ 

To the sound of INXS’s hit song “Never 
Tear Us Apart," teenage fans gathered along- 
side friends and family for the funeral service 
of Michael Hutcbence. More than 2,000 
people turned out for the funeral at St An- 
drew's Anglican Cathedral in Sydney. Fans 
began gathering outside the church more than 
two hours before the service began, filling die 
courtyard, where a tower of television monitors 
broadcast the ceremony. Paula Yates arrived 
with the couple’s 16-mooth-old daughter. 

Heavenly Hiranl Tiger LBy , and celebrities in 
attendance included tire other members of 
INXS, the singer Tom Jones, die Australian 
pop star Kylie Mi nogue and the band Mid- 
night Oil. Hutcbence was found hanging by a 
belt in his hotel room on Saturday. 

□ 

The Associated Press tells us it erroneously 
reported that Michael Jackson and his wife, 

Debbie Rowe, are expecting a baby in Feb- 
ruary. The baby girl is due in May. 

□ 

A British charity has accepted $502,000 
from sales of Andrew Morton’s book about 


Diana, Princess of Wales. HMD Interna- v 
tional said it would use the money to help 
finance a project to aid civil war victims in 
Angola. Morton and die publishers of “Di- 
ana, Her True Story, in Her Own Words” 
earlier tried to donate $418,000 to the British 
Red Cross Society. The group rejected the 
proposal because of the nature of the book, 
which includes transcripts of taped interviews 
Diana did not want made public. 

□ 

The Spice Girls have dashed reports of their 
imminent collapse by signing a new contract 
with Pepsi worth $800,000. Under the ex- 
tended deal, they will contribute to a compact 
disk with other, unspecified, artists. 

□ - 

Jerry Lee Lewis, the rock 'n’ roll legend 
known for his hits “Great Balls of Fire"and 
“A Whole Lotte ShaJrin’ Going On," won’t 
have part of a highway named for him. Lewis 

marketer had made the proposal to the DeSoto 

County, Mississippi, supervisors, saying a 
Jerry Lee Lewis Road would attract tourists. 
But the supervisors said they had gotten 

from residents along tiie road who opposed the 

plan. “Nobody here is trying to slam Jerry Lee 
Lewis," said Supervisor John Caldwell, 
“but that doesn't mean I’m going to vote to 
change the name of the road for hun. " 




in the springtime. 


Every country has its own AT&T Access Number which 
makes calling home or to other countries really easy. 
Just dial the AT&T Access Number for the country you’re 
calling from and you’ll get the clearest connections 
home. And be sure to charge your calls on your AT&T 
Calling Card. It’ll help you avoid outrageous phone 
charges <xi your hotEl biU and sarc you beauroup de francs 
(up to 60%*). Check the list for AT&T Access Numbers. 


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3. Hal the calling card number listed 
abate your name. 


XTSm Access Numbers 


EUROPE ~ 

MBtrtavo 

Mgtam* 

■■■• K2-U83-B11 
D-888-1D6-1R 

France 





ttaty* 

Htttertamte* 

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Stein 

172-im 

***022-9111 
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B3S94M011 

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