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The World’s Daily Newspaper 


INTERNATIONAL « | ^ 

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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POOT£ f]J 


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London, Thursday, September 4, 1997 


No. 35,617 











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Mahathir’s $20 Billion Market Cure 




By Thomas Fuller 

Special ic the Herald Tribune 

KUALA LUMPUR — After weeks 
•.of trying to bolster Malaysia's slumping 
stock market by cajoling investors and 
threatening speculators. Prime Minister 
Maha th ir bin Mohamad announced 
Wednesday that the government would 
inject np to $20billion into the market to 
support share pices. 

* ‘This is our plan to defend our econ- 
omy.' ' Mr. Mahathir said after the stock 
market dosed down 5.65 percent for the 
day. continuing a slide that has shaved 
off more than 40 percent of the market's 
value since March. * ‘Wears trying ways 
to save our country." 


But analysts immediately questioned 
whether the 60 billion ringgit rescue 
plan — roughly equivalent In value to 
■ Malaysia’s entire annual federal budget 
— would work. 

They also noted that deploying that 
much money was likely to drastically 
reduce the Liquidity of Malaysia's fi- 
nancial system, drying up investment 
capital and possibly harming the econ- 
omy. The plan, Mr. Mahaihir said, 
would be financed partly by issuing 
bonds through .Khazanah Nasional 
Bhd.. an investment agency anacbed to 
the Ministry of Finance, and partly 
through other unnamed local institu- 
tions. 

"You can't actually take 60 billion 


Asians Insist on Japan- China Balance 


> i 


:■ V 


. By Michael Richarsdon 

Atf • International Herald Tribune 

■ SINGAPORE — When Prime Min- 
fof ister Ryu taro Hashimoto of Japan con- 

eluded a tour of Southeast Asia in 
i Singapore in January, be called for reg- 
J alar meetings between Japanese and 
.w. ASEAN heads of government in a 
speech, that appeared to mark a new 
mt phase in the competition for regional 
■M influence between Japan and China. 

€ But the outcome of Mr. Hashimoto’s 
jj initiative for exclusive summit meet- 
w "I Logs between ASEAN, the Association 
'. of South East Asian Nations, and Japan 
— the group's largest single source of 
aid, trade and foreign investment — will 
-■-.v not be quite as he had hoped. 

' j ■ Diplomats of ASEAN countries — 
V seeking to draw China fully into regional 
- consultations and balance it against that 
. -of other major players, especially Japan 

■ have extended his idea by inviting 
■ Chin a and South Korea, as well as Japan, 
■ . to a meeting in Malaysia in December 
_ that would be the first gathering of East 

- '■ . Asian heads of government. 

■ "We didn't rejecr Mr. Hashimoto’s 
proposal,” a Malaysian official said 
’ Whines day. “We just enlarged it. We 
y need to pursue a policy of inclusion and 
-j' balance, especially with China and Ja- 
pan. . 

• As Mr. Hashimoto arrives in Beijing 

- *■" oin Thursday for a four-day official visit 

to try to achieve a berter balance in 
r - n Japan's uneasy relations with China, so 
•J' jt smaller neighbors of East Asia’s two 
g oliaths are working to achieve a new 
balance in the region’s geo-politics. 

\ ; China's president, Jiang Zemin, has 

already accepted ASEAN's invitation to 
take part in the East Asian summit meet- 
«.•£ ing in December, leaving Mr. Hashimoto 
... ' and South Korea's president or prime. 
'".jv' rhinister no option but to accept as well. 


The Dollar 


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"These tactics were not intended as a 
snub to Tokyo,” said a Southeast Asian 
diplomat. “Japan remains a cornerstone 
of our regional relations. But Japan and 

NEWS ANALYSIS 

the rest of East Asia roust adjusi to 
China’s increasing power and influ- 
ence.” 

Japan’s investments in tire nine coun- 
tries of ASEAN — Brunei, Burma, In- 
donesia, Laos, Malaysia, the Philippines. 
Singapore. Thailand and Vietnam — 
amount to nearly one-third of its total 
overseas investments. Japan is ASEAN's 
top trading partner, accounting for one- 
fifth of the group's total trade. 

But China's economy, with its enor- 
mous potential market of 1.2 billion con- 
sumers, has been growing at an average 
rate of 10 percent a year for more than a 
decade — far faster than Japan’s. 

“Hi gh growth in China will give an 
added L percent to 2 percent growth to 
other East Asian countries that have 
much trade with, and investment in. 
China," Lee Kuan Yew. Singapore’s 


senior minister, said recently. 

Prime Minister U Peng of China 
pointed out on a visit to Southeast Asia 
last month that trade between China and 
ASEAN had more than tripled since 
1990 to reach S20.4 billion in 1996. 

“China also has the ability to invest 
in ASEAN counmes," he noted. “The 
mutually beneficial cooperation be- 
tween China and ASEAN is not ah 
expediency — ir is a long-term strategy 
with the future in mind.” 

Southeast Asian officials said that if 
China is encouraged to concentrate on 
increased regional trade and invest- 
ment, it would develop an even stronger 
vested interest than it has now in main- 
taining peace and stability. 

“After a few years of ‘learning.’ 
China has now taken up multilateralism 
as one of its strategies in dealing with 
the Asia-Pacific region,” said Jusuf 
Wanandi, chairman of the supervisory 
board of Indonesia's Center for Stra- 
tegic and International Studies. “This 
will give China the chance to participate 
fully and responsibly in the region as 
one of its great powers." 


AGENDA 


Sinn Fein Leader 
Vows ‘Compromise’ 

WASHINGTON (Reuters) — 
Gerry Adams, the Irish republican 
leader on a tour of die United States, 
promised Wednesday that Sinn Fein 
would go into all-party tal k s on North- 
ern Ireland in a spirit of compromise. 

' ‘Compromise, compromise, com- 
promise.” the Sinn Fein leader said at 
a Washington press conference. 

t£ It is in a spirit of generosity, ac- 
commodation and preparedness to 
come to a compromise that we would 
go into these talks." 

Visa for Taiwan Chief 

WASHINGTON (AFP) — The 
United States has granted a transit 
visa to President Lee Teng-hui ot 
Taiwan to allow' him U.S. stopovers 
on his way to and from Panama. 

BUSINESS/FINANCE 

Lufthansa Plans Low-Cost Comer 



Tbc Assoculed Prcr- 


IMPRESARIO — Rudolf Bing, 
who led the Metropolitan Opera 
for 22 years, died at 95. Page 3. 


Books — 

Crossword 

Opinion 

S ports — 

The Intermarket 


Page 10. 

Page 10. 

Pages 8-9. 

....... Pages 18-19. 

Page 7. 


The IHT on-line v/VAV.iht.com 


Funeral Route Is Lengthened 
As Diana’s Mourners Grow 


ringgit out of the money market all at 
once," said a researcher at a Kuala 
Lumpur finance house who asked not to 
be identified. 

"And even if you take the money out 
over the next four to eight weeks, you're 
going to see liquidity dry up and in- 
terests rates rise." 

Bui Mr. Mahaihir was confident that 
the plan was viable. “We have enough 
money to do this." he said. "There is no 
problem raising money in Malaysia. It 
can come from many sources." The 
state-run Employees Provident Fund 
had more than 100 billion ringgit, he 
added. 

See MALAYSIA. Page 4 


Royal Family 
Breaks Silence 


By Dan Balz 

Washington Post Se rvtc e 

LONDON — Bowing to growing 
public pressure. Buckingham Palace of- 
ficials announced Wednesday a signif- 
icant expansion in the processional 
route for Saturday's funeral for Diana, 
Princess of Wales, in their latest effort to 
accommodate unprecedented crowds of 
mourners. 

The royal family also issued its first 
public statement since the death of Di- 
ana in Paris early Sunday, with mem- 
bers saying they were "deeply 
touched” by the outpouring of grief! 

Palace officials and the royal family 
have come under mounting criticism for 
the way they have handled events since 
Diana's death. 

There were complaints that the royal 
family’s silence was a sign that it was 
out of touch with the public and that the 
processional route outlined earlier in the 
week was far too short to handle the 
huge numbers of people who want to 
attend. 

Late Wednesday afternoon, palace 
officials said that Diana’s coffin would 
be moved Friday from the Chapel Royal 
in St. James's Palace to Kensington 
Palace, her residence in Kensington 
Gardens at the western end of Hyde 
Park. 

The change in plans more than 
doubles the route of the funeral pro- 
cession that will bear Diana's coffin to 
Westminster Abbey, where the funeral 
services will be held, and will give far 
more people a chance to glimpse the- 
funeral cortege. 

Well over a million people are ex- 
pected to try to witness the events Sat- 
urday. 

The palace also announced that 
Prince Charles, the heir to the throne 
who was divorced from Diana a year 
a«o. and his two sons. William and 
Harry, will return to London on Friday 
to pay their respects to Diana in private. 
They have beetrar -Balmoral castle in 
Scotland for several weeks. 

Queen Elizabeth D and other mem- 
bers of the royal family will return to 
London by overnight train in time to 
attend Saturday’s services. 

The statement issued by the family 
said, “Ail the royal family, especially 
the Prince of Wales, Prince William and 
Prince Harry, are taking strength from 
the overwhelming support of the public, 
who are sharing their tremendous sense 
of loss and grief. They are deeply 
touched and enormously grarefiil. ” 

Officials at Buckingham Palace, 
which is charged with organizing the 

See FUNERAL, Page 4 


Photo Industry ‘Damaged’ 

Agency Employees Deny Crash Interference 


By Anne Swardson 

WtUhingin/t Past Sen-ice 

PARIS — The photo agencies that 
make a living opening up the lives of 
celebrities closed ranks Wednesday 
and went on the defensive after seven 
of their employees were placed under 
investigation in the death of Diana, 
the Princess of Wales, and two o til- 
ers. 

Several of the photographers vehe- 
mently denied they had interfered 
with police as Diana lay injured in the 


crushed Mercedes early Sunday 
morning. One said he took her pulse 
and told her help was coining, another 
said he had not followed the car but 
merely came across it on his way 
home. 

But the image of these agencies 
that snap the glamorous and the grot- 
esque seemed likely to be smeared 
whether the photographers were 
cleared or not. 

The tragedy of Diana ‘ ‘has not only 
See PRESS, Page 4 



Jr* l' y 4\ 


had Vtcemc/Agcux ftnc-Prettc 

A young mourner in London weeping over the masses of flowers left In 
front of Kensington Palace to honor the dead Diana, Princess of Wales. 


Charles’s Suffering Leaves Britain Cold 


By Christine S polar and Dan Balz 

Washington Pivt Sen-ice 

LONDON — Not even tragedy has raised Prince Charles in 
the esteem of his countrymen. 

The cool, remote Prince of Wales may be weeping over the 
death of his former wife, Diana, Princess of Wales, if tabloid 
tales are true, bm the British public appears to be oddly 
unmoved by his sorrow. 

Charles, whose dour demeanor, eccentric enthusiasms and 
affair with a married woman have long made him the loser to 
Diana in the competition for public affection, has said nothing 
publicly and issued no statement since Diana was killed In an 
auto accident with her companion, Dodi aJ Fayed, and a driver 
early Sunday. But, according to press accounts, he is suffering 
deeply. 

He has been roaming the moors of Scotland, contemplating 


his sorrow over the loss of his former wife. The Daily Mail 
said. Red-eyed and sleepless, he is totally distraught. The Sun 
said. 

But many media commentators urged the heir io the throne 
to heed his former wife’s example, loosen up and reach out to 
his subjects in the same open-hearted way she did — or risk 
his future and that of the House of Windsor. 

Among the throngs of mourners in London, few people ate 
shedding tears for the prince. Diana touched them in a special 
way, they say, but talk of Charles turns the conversation cold. 
As cold, some noted, as he himself appears to be. 

"He’s full of guilt — and he should be," said Vanessa 
Belton, who stood in line with thousands of others to sign a 
book of condolence at Sl James’s Palace in memory of Diana. 
“If he’d loved her — and all she wanted was her love returned 

See PRINCE, Page 4 


In Korea , Land Mines Mean Peace 


By Nicholas D. Kristof 

New York Tmes Service 

MUNSAN, South Korea — Some of 
the fields and forests scattered around 
the gash of barbed wire and tank traps 
that separates the two Koreas are so 
green and gorgeous that one wants to 
dash through the fields in sheer ex- 
uberance at the beautiful terrain. 

But that would be a mistake, and the 
risk is underscored by the occasional 
maimed deer that limps through the 
area. Some of the ground north of this 
sleepy town near the North Korean bor- 


der has been salted with mines by U S. 
and South Korean forces to deter a 
North Korean attack. 

The campaign by Diana, Princess of 
Wales, and others against land mines 
helped focus international attention on 
the issue, forcing President Bill Clinton 
to enter the United Slates into nego- 
tiations with about 1 00 countries aiming 
at banning anti-personnel land mines by 
the end of the year. The ban would not 
cover such other mines as anti-tank 
mines. 

But the Clinton administration is seek- 
ing an exception for the Korean Pen- 


insula. so thar in areas like this new mines 
could continue to be laid indefinitely. 

The reason the administration favors 
the continuing use of mines in Korea is 
that if the usual image associated with 
land mines is that of Angolan or Cam- 
bodian children without legs, here it is a 
bit different. 

In South Korea, there are countless 
land mines, but they are in restricted 
areas that cause few casualties. Also, 
many American troops and South 
Korean civilians feel safer because of 

See MINES, Page 4 


Test Experimental AIDS Vaccines 


By Rick Weiss 

Poo Senu:e 




ft f 


C. “80504 


Robert Belshe, leans forward, slides the needle into 
Mr. Lynch's arm and pushes the plunger on the 
svringe, propelling about a million specially mod- 

V7 • !«ciA» a <mali and ified viruses into the man’s muscle. 

ST. LOUIS, Missouri — ^£-7 Tun They are canarypox viruses, which cause dis- 

neariy windowless downrotra m«fccal • in birds but are harmless in people. Each one 

Lynch roils up one sleeve of his T-shirtana genetically engineered to contain three 

straight ahead., w nonce th^ gen es that are normally found only in fflV 

steel needle being unshaathed besute ^ infecled The goal is to introduce some of the hallmarks of 
Mr. Lynch, who is and e a - * R -x- » hjv t0 ^ Lynch’s immune system, so he can 
•; h my jhe virus that causes AffiS But u SWAT team of antibodies and white 

rS ^11 ** «*i to ** ^ blood cells capable offighting off a real infection, 

^cher. should ons ever occur. 


Mr. Lynch is one of thousands of healthy people vaccine'developers and a federal research program 
in the United States who have agreed to lease their criticized as lacking in leadership, 
immune systems to science for a period of months Yet a new, if cautious, optimism has emerged 

or years, as part of the quest to develop an AIDS among many AIDS vaccine researchers in the past 
vaccine. It is a quest that has proven exceedingly year or so. Using salvaged bits of information from 
and unexpectedly difficult otherwise failed experiments, scientists have been 

AIDS vaccine researchers have endured so developing a picture of what a successful ADDS* 
many disappointments in the past decade that some vaccine would look like — then building and 
began to think their mission was impossible. HIV testing vaccines along those lines and getting them' 
has shrugged off dozens of experimental forma- into human trials. Increasingly, the results of those 
lations that almost certainly would have felled trials have been offering up more good news than- 
lesser viruses. Meanwhile, progress has been 

hampered by a lack of investment from private See AIDS, Page 4 - 






INTERNATIONAL HERA LD TRIBUNE, THURSD AY S EPTEMBER 4, 1997 

PACE TWO 




:k\ 


Village Deep in Bush / Complex Image of Dictator 


Weeds, Rust and Mold Rule 
Bokassa’s ‘ Imperial Court’ 


By James Rupert 

Wjjhinghut Fast Service 


B ERENGO, Central Afri- 
can Republic — Among 
the crumbling buildings 
of what he once called 
his “imperial court,” Jean-Bedel 
Bokassa is buried in an unmarked 
grave. In a yard of dirt and weeds, 
the grave's rough, concrete slab 
suggests that one of Africa's most 
notorious tyrants has come to a 
universally scorned end. 

The concrete slab is wrong. 

Mr. Bokassa died of a heart 
attack in November at age 75. To 
Westerners, be was a comic-book 
villain, but in the country he ruled 
ruinously for 14 years, his image is 
complex. He is hated by some, but 
‘ forgiven and admired by many. 

In 1965, an ambitious Colonel 
Bokassa overthrew die govern- 
ment of President David Dacko 
and ruled at megalomaniacal 
whim. He awarded himself pro- 
motions — - general, marshal of the 
republic, president for life — but 
each proved insufficient. In 1977, 
he declared himself Emperor 
Bokassa I. His coronation cere- 
mony, in imitation of Napoleon's, 
cost tens of millions of dollars. 

In addition to his waste of 
scarce riches in a poor economy, 
the uncomic side of Mr. Bokassa' s 
rule was a reign of terror in which 
he routinely had opponents killed, 
sometimes beating them himself. 
Years later, in a trial, his cook and 
other witnesses testified that be 
had them butcher, cook and serve 
him his victims for dinner. 


I N 1979, he ordered the ex- 
ecution of children who had 
protested being ordered to 
wear school uniforms dec- 
orated with his portrait. A few 
months later, when he was in 
Ubya on a visit, France sent a 
planeload of troops to reinstall 
Mr. Dacko in power. 

Mr. Bokassa spent eight years 
in exile but returned in 1987 to 
face trial on charges of murder, 
torture and cannibalism. He was 
convicted of murder and im- 
prisoned, but his sentence was 


commuted in 1993. From Bangui, 
the Central African Republic’s 
sleepy capital, it is an SO-kiio- 
meter (50-raile) drive through the 
patchy remains of a receding 
equatorial forest to Mr. Bokassa's 
native village, Berengo. Stands of 
massive, vine-draped trees loom 
over banana and palm groves, 
manioc and com fields. 

The first sign of Mr. Bokassa's 
village is the concrete runway of 
his airport, now abandoned ex- 
cept for a handful of French sol- 
diers who maintain it as an emer- 
gency landing strip for French Air 
Force planes based at Bangui. 

The green steel gates of Mr. 
Bokassa's compound are higher 
than 3 meters (10 feet) — but they 
are ajar. Inside, jungle has gone 
much of the way toward reclaim- 
ing what once were lawns and 


If a dictator was ‘ good 
for your tribe, but bad 
■for your country,' you 
notice the former a lot 
more than the latter. 


gardens. Mr. Bokassa’s villa is 
intact, bur nailed shut. One hot 
day recently, village youngsters 
stripped off their clothes to leap 
from the second-floor balcony in- 
to dull green rainwater that half- 
fiUed the swimming pooL 

Weeds, rust and mold inhabit 
guest houses, barracks, 
watchtowers, a radio station, gar- 
ages and a small plant for making 
phonograph albums. In a movie 
theater, shreds of moldering vel- 
vet hang from the empty wooden 
frames of nearly 200 seats. 

The only personal reminder of 
Mr. Bokassa is a bronze, nearly 4- 
merer-tall statue of him, seven 
stars on his epaulets and pistol on 
his hip. Standing unmounted on 
the crumbling asphalt of a drive- 
way, it rocks if you push it. 

The compound's only resi- 
dents are a few teachers for an 
agricultural school that the gov- 
ernment tried to establish with 
support from the .Opportunities 


Industrialization Centers, based 
in Philadelphia. The school is 
supposed to train villagers to im- 
prove their crops, raise better 
chickens and the like. 

But the school — like the gov- 
ernment, the republic's First 
freely elected one — doesn't 
really function these days and 
“might not be restarted," said 
Felix Yanguere, its manager. 

Local villagers have damaged 
the school's efforts to renovate 
some of the buildings, he said. 
"They want us to leave," he ex- 
plained- "They regard the com- 
pound as Bokassa's property and 
say the government should give it 
back to his family." 

Mr. Bokassa's family plans a 
real monument to him at his crude 
gravesi te, residents said. While 
only the concrete slab and weeds 
are visible, they said, the grave is 
actually a two-room, under- 
ground tomb — a tiled chamber 
for the coffin and, through a door, 
a small parlor furnished with Mr. 
Bokassa's favorite armchair, 
reading glasses and a Bible. 

The villagers, related in vari- 
ous ways to Mr. Bokassa, were 
hesitant to discuss him with a 
foreign visitor. His enemies 4 ‘say 
he was a killer, but the people 
were ready to take him back' ' as 
ruler, said a man who gave his 
name as Pascal. “Unfortunately, 
he is gone." 

That people of Mr. Bokassa's 
Mb aka tribe remain loyal to him 
is unsurprising. For many Afri- 
cans, the tribal identities of count- 
less generations are far more 
powerful than their more recently 
invented national identities. 


I F A dictator was "good for 
your tribe, but bad for your 
country,” you notice the 
former a lot more than the 
latter, said Robert Ngouyombo, a 
teacher at the agricultural school. 

Like American political bosses 
of die past, ‘ ‘the African Big Man 
is forgiven many vices — and 
certainly corruption — as long as 
he lakes care ofhis own, as long as 
he receives the people who wait in 
his courtyard with a problem for 



i Rqnt/Thc Wehn^iui foil 

A bronze statue of Bokassa standing in his compound in his 
native village, Berengo. His tomb is visible in the background. 


him to solve," said a senior West- 
ern diplomat who has served in 
numerous African countries. "If 
he doesn't, it doesn't take them 
long to put poison in his food." 

Beyond his tribe, Mr. Bokassa 
commands a respect, even a mys- 
tique, that befuddles Westerners 
horrified by his excesses. 

"Many people respect him be- 
cause he knew how to command 
and had the strength to db it," said 
Christian Panika, a news editor at 
state-run Radio Central Africa. 

While Mr. Bokassa's most en- 
during obsession was with power, 
tides and medals, a lesser one was 
with building things. 


Central Africans “remember 
that, in his early years, he was the 
most aggressive builder we had 
seen," said Prosper N'Douba, a 
psychologist who is chief spokes- 
man for the government. Mr. 
Bokassa brought electricity to 
Bangui and paved the roads to 
nearby towns, he said. 

"Even if there was a person- 
ality cult, in return, things got 
done," Mr. N’Douba said. 

A diplomat added that this 
“left an impression on a country 
where almost no government in 
the last century , colonial or in- 
dependent, has improved 
people’s Lives.” 


Argentine Flight 
Seen as a Hazard 


Near Collisions Are frequent 


By Calvin Sims 

AVw York Junes Service 


BUENOS AIRES — One 
recent morning, air traffic 
controllers here advised the 
crew of an Avianca Airlines 
fljjohr arriving from Bogota 
♦hat the airport was closed be- 
cause of low clouds and that 
the plane should proceed to an 
airport 650 kilometers to the 
northwest, where the skies 
were clear. 




But as the Avianca £lane. 


running low on fuet ap- 
proached that airport in Cor- 
doba Province an hour later, 
controllers told the pilots that 
it was too cloudy to land 
there. They were told to fly 
325 kilometers (200 miles) 
farther northwest to an airport 
in La Rioja Province, where 
the plane finally touched 
down with only 14 minutes of 
fuel left 

The same day, three other 
international flights to 
Buenos Aires came danger- 
ously close to running out of 
fuel because inadequately in- 
formed controllers directed 
them to airports that were also 
closed because of poor vis- 
ibility. 

That series of errors and 
others, including a growing 
number of near collisions in 
the air in recent months, have 
led to a major debate oyer the 
safety of Argentina’s airports 
and its antiquated air traffic 
control systems, which are 
handling an increasing num- 
ber of international flights. 

“It’s a disaster waiting to 
happen," said Enrique 
Pineyro. a safety official for 
the country's Airline Pilots 
Association. “The system is 
so outdated and lacking in 
new technology' thar air con- 
trollers are not even aware of 
the weather conditions at the 
airports to which they are 
routing planes." 

In recent weeks, the pilots’ 
union has issued numerous 
public warnings, contending 
thm serious deficiencies in 
the country's air monitoring 


systems, airport 
mre and foe trai nin g of 
trailers have made air tin’ 
in Argentina unsafe. 

The pilots say that 
controllers have difficulty! 
communicating with pilots of 
foreign airlines becanse &sT't 
controllers have only fudi-^ 
mentary command oFVEng' -^ 
lish-Soraegilof ■ 
trailers often give 
incorrect landing coo 
and weather information. _ 
An official at foe U.S. EnP^ 
bassy in Buenos Aires who iifSS 
an expert on air safety 
ro bonded much of what thefj 
pilots have been saying. Tftf?; i 
official said that passengers’ * 
flying into Argentina have - • 
reason to be worried about ; 
their safety. 

Underscoring the gravity %• 
of the recent rerouting prob- 
lem, tbe International Air '-"’, 
Transport Association, which J : 
represents 270 airlines workf-"! 
wide, expressed deep concern ^ ' 
over the episode in a letter to. . £ 
the Argentine Air Force, ' \ 
which oversees foe country’s' y 
airports and monitors air' rJ 
traffic. . 

“Diversions to airports are 
not uncommon . and should^ 
not have caused a problem. of-- ( 
the magnitude that these air-i% 
planes experienced in ArgeiF- ^ 
tina," A1 Castan, the asso^V 
clarion's infrastructureY.; 
director for Latin America - !! 
and tbe Caribbean, said in 
telephone interview. 

After foe pilots issued a^*. 
statement disclosing foe dan-'* % 
gerous reroutings and tbe 
near collisions, foe air force' ': 
announced that it had dis-' 1 ' 

: missed several top official 
and staff members responsi " ! 
ble for air control in the coun.-. y 
try’s northern region. • •’ 

President Carlos Saul Me- ! 
nem said the recent problems 'f\ 
demonstrated the need . to ' 

S ivatize 30 major airports: 4 - 
ut air safety experts sai9 t ; 
privatizing Argentina's air- 7; 
ports would not solve foe!" 
problems.This system, they 
said, needs to be overhauled. : 


■ m. 

tVhe relaxing 
hotel in the 
heart of Zurich.*;. 


Hotel Softtel Zurich 


SwwttfcnWlwft W. CH-S0H Zurich 
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latamts baprffwwXMotiuixom 


travel update Comoros Lands Troops on a Secessionist Island 


French Airline Plans Munich Runs 


PARIS (Bloomberg) — Air Littoral SA, a French regional 
airline that formed a partnership with Germany's Lufthansa in 
June, said it would offer service to Munich from both Nice and 
Nantes beginning on Monday. 

Both Air Littoral and Lufthansa will sell passengers tickets 
for those routes through a marketing practice known as code 
sharing. 


U.S. Waterways Were Safer in ’% 


WASHINGTON CAP) — The nation’s waterways got a 
little safer last year, while transportation deaths continued to 
climb on the roads. 

Recreational boating led foe decline with 714 fatalities in 
1996, down from S32 a year earlier, according to tbe National 
Transportation Safety Board As usual, foe roads were foe 
biggest killer, claiming 41,907 lives, up from 41,798 in 1995. 



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Reuters 

MORONI, Comoros — 
Government troops on foe 
Comoros ignored appeals 
from Africa and France and 
invaded the island of Anjouan 
on Wednesday to try to end a 
monthlong secession by 
force. 

After days of saber-rattling 
and preparations, about 300 
troops landed, according ro 
the French Foreign Ministry 
in Paris and diplomats in 
Moroni, capital of tbe Indian 
Ocean archipelago. 

President MohamedTaki's 
government later confirmed 
foe military operation and 
said it had begun late Tuesday 
night. 

“The security forces are 
progressively re-establishing 
foe republican order, foe 
freedoms and foe safety of 
persons in Anjouan, mainly in 
Mutsamudu and Domoni," 
foe presidency said. 

Diplomats said the inva- 
sion targets were Mut- 
samudu, foe main town and 
port on Anjouan: foe airport at 
Ouani, 7 kilometers east of 
Mutsamudu, and foe town of 
Domoni 

Anjouan, foe second- 
largest of foe three islands 
that make up Comoros, se- 


ceded Aug. 3 after months of 
civil unrest and clashes be- 
tween protesters and security 
forces in which several 
people were killed. 

The smallest of foe three 
islands. Moheli, followed 
suit, leaving Mr. Taki's gov- 
ernment in control only on 
Grande Comore. 

“This morning, a military 
operation launched by the 
government and aimed at tak- 
ing control of strategic points 
on Anjouan is under way," a 
French Foreign Ministry 
spokesman, Yves Doutriaux. 
said in Paris. 

With telephone, air and sea 
links to Anjouan apparently 
severed, there was scant in- 


formation about the inva- 
sion. 

Secessionists on Anjouan 
had earlier pledged to defend 
foe island to foe death. 

Unconfirmed reports from 
Anjouan that reached Moroni 
said the government troop 
ships were anchored at Ouani. 
They said foe ships either had 
been repulsed at Mutsamudu 
or that foe government forces 
had chosen to avoid the heav- 
ily defended main town. 

France repealed earlier 
calls for negotiations aimed at 
a peaceful settlement The 
government in Paris has op- 
posed the secessions. 

Political leaders on foe two 
secessionist islands have dis- 


agreed on whether they want 
full independence, a return to 
French rule or greater auton- 
omy. 

But they are unanimous in 
their assertions that foe Co- 
moros federation, formed 
after independence from 
France in 1965, has brought 
only poverty, political in- 
stability and a series of coups 
to foe counny of 670,000 
people. 

The French mercenary Bob 
Denard has played a prom- 
inent role in several of the 
coups. But there was no sug- 
gestion he was involved with 
either side Wednesday. 

Poverty in Comoros con- 
trasts with comparative 


prosperity on foe island of- 
Mayotte, which voted against 


independence in 1975 and r£-_ 
mains under French rule. 

Mr. Taki's government has 
asked the Organization of Af- 
rican Unity to postpone until 
October an all-party confer- 
ence on foe Comoran crisis, 
Pierre Yere, the organiza-. 
tion’s special envoy to Co-; 
moros, said Wednesday. ; r 

The talks are scheduled for; 
Sept 10 to 17 at foe orga- ; 
nization's headquarters in.. 
Ethiopia. 

On Tuesday, the OrganiV. 
zation of African Unity urged 
the government of Comoros, 
to resolve foe crisis peace- 
fully. ! 


WEATHER 


Europe 



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Forecast for Friday through Sunday, as provided by AccuWeather. 

W 


Asia 



Jowiwn 

North America Europe 

Aller a hnsl shot ol Quite warm across eastern 
autumrUike chill, the North- Europe from Romania 
east and Now England «*» northward to Poland and 
be sunny and milder this into western Russia Friday 
weekend. Sunny and and Saturday, but blunder- 
pleasant In ihe Midwest storms rumbling across 
Friday, but thunderstorms centra) Europe Friday mi) 
movng across the nonhem move m later Saturday into 
and central Plains will Sunday. S«ne sunahre * 
move ci this weekend. Hoi London, but cloudy and 
with aitemaon thunder- cool in Scotland with soma 
storms m the Southwest ram. 


Asia 

High pressure will provide 
sunny and comfortable 
weather m Tokyo Friday, 
but Humidity will increase 
on Ihe weekend, and there 
may be a thundershower. 
Some sunshine end warm 
m Seoul, but a couple of 
showers are posaible. 
Monsoonal ram win contin- 
ue across southern India. 
Hot in central China. 


Kara Or 
f. Lumpu 
K. Kinabalu 
Manta 
NmParni 

Phnom Ranh 

Phukaf 

Rangoon 

Scots 

9mnghu 

Sawom 

Tatra 

Tokyo 

VkHWana 


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28*2 23/73 r 
2WB4 22/71 r 


High LowW- 
<3F OF ■ 
31*8 17*2 pa 
31*8 21/70 a 
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31*8 )MM> ' 
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3108 24/75 c 
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27780 18*4 * _ 
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31« 23/73 pc 
31*8 24/75 c 
28/82 26/70 c 
27780 23/73 r . 


North America 


Today 
LowW 
C/F OF 


Anchorage 
A] Laras 
Boston 
Cfwagci 


Middle East 


AbuDHoU 

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Cano 

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High 

OF 

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PAGE 3' 


a, *< 


INTERNATIONAL HERALD TRIBUNE, THURSDAY SEPTEMBER 4, 1997 


PAGE 3 


THE AMERICAS 


“ -I** 

1 




•A New Twist 
On the Cash 
Gore Raised 

Diversion of a Portion 
Raises Legal Problem 

By Bob Woodward 

Washington Post Stn-i.-r 


SlXmP 01 ™ - More *an 
nkrTY? m ,. cam P aj & c contributions 
- ly /?iL c,Ica m 199 5-96 by Vice 
¥Jj;* lde r ,u M Gore for a “soft money' * 
a 9^ um not covered by federal law in- 
stead went into a “hard money” ac- 
count subject to federal election limits. 

the money came from at least 8 of 46 
2°"“?. Y K « President telephoned 
from ms White House office to ask for 
contri butio ns to the Democratic Nation- 
al Committee, according to records 
Public by Mr. Gore's office. 

-.Tne distinction is significant because 
Attorney General Janet Reno has cited 
the absence of evidence that high-level 
government officials sought hard money 
donations as a key reason not to re- 
commend appointment of an independ- 
e h t counsel to investigate fund-raising 
activities for last year’s elections. 

Soft money is defined as contribu- 
tions not intended to support individual 
candidates but to promote “party-build- 
j v and other general campaign ac- 
tivities such as television advertising. 
While it must be reported, it can be 
given in unlimited amounts. 

..Hard money contributions are highly 
valued by campaigns because they can 
be used directly to benefit individual 
candidates. But federal law places spe- 
cific restrictions on the solicitation, 
amount and use of such contributions. 

. Among those restrictions, the law says 
that such regulared contributions cannot 
be solicited on federal property. Ms. 
Reno has maintained that because she has 



POLITICAL NOTES 




\r m n - , lac hiA^Atnice mocc-m* 

Vice President A1 Gore, right, and Dan Fagre of the U.S. Geological Survey, visiting Glacier Mountain Park 
tn Montana, where they viewed glacial melting to draw attention to the effects of global warming. 


seen no evidence regulated contributions 
were solicited from the White House — 
or, in the words she used in an April 14 
letter, any White House area "occupied 
in the discharge of official duties' ' — no 
independent counsel is warranted. 

A senior White House official said 
Mr. Gore bad not asked for any hard 
money contributions, and was unaware 
that money he solicited was directed 
into the Democratic National Commit- 
tee's hard money account. 


A committee spokeswoman, Amy 
Weiss Tobe, said Tuesday night that it 
was “routine procedure” to assign the 
first $20,000 of a large donation — the 
legal limit for a hard money contri- 
bution — to that account and to deposit 
the rest into the soft money account. She 
suggested that had inadvertently 
happened with the contributions soli- 
cited by Mr. Gore. 

Officials said this practice might 
bring scrutiny by the Federal Election 


Commission because it does not ne- 
cessarily reflect (he wishes of the 
donors, who are supposed to designate 
the use of the money. 

The practice poses a more immediate 
question for Ms. Reno, who has been 
sharply criticized by senior Republicans 
for declining to ask for appointment of 
an independent counsel. Burt Brand- 
enburg, the Justice Department's chief 
spokesman, said that Ms. Reno would 
have no comment on the matter. 


- -** 
- 


Temple Visit Was Innocent Mistake , Aides Maintain 




unuA I-M 1 


By David Stout 

, | Nem- York Tima Str ict 

. "WASHINGTON — On the eve of campaign-fi- 
Ty l nance hearings that are sure to put Vice President A1 
Gore in a harsh spotlight, the White House has moun- 
ted a public relations offensive to show that his ap- 
pearance last year at a Buddhist temple fund-raiser was 
an innocent mistake. 

■ About two dozen journalists summoned to a back- 
ground briefing in the old Executive Office Building 
near the White House on Tuesday were told there “was 
not a shred of evidence,” in the words of one Gore 
aide, that the vice president had had any warning thar 
the 1996 event was indeed a political money-maker. 


The luncheon at the Hsi Lai Temple in California has 
become a source of acute embarrassment lo Mr. Gore 
in recent months, as the hearings in Congress have 
unfolded and as political analysts have begun even at 
this early daze to try to gauge bow the revelations have 
damaged his presidential aspirations for 2000. 

When the Senate Governmental Affairs Committee 
resumes its hearings Thursday, two Buddhist nuns are 
expected to testify- that they were used to launder 
money to the Democratic National Committee, in 
violation of federal election laws. No evidence has 
been found to tie Mr. Gore to that purported ar- 
rangement. but the episode still has the potential to 
hobble the vice president's political career. 

The. hearings, before the- committee headed by 


Senator Fred Thompson, Republican of Tennessee, 
are resuming after a summer respite from months of 
campaign-finance disclosures that seemed to suggest 
unseemly arrangements in which wealthy contributors 
were offered special access to President Bill Clinton 
and people close to him. 

Speaking to the reporters in an ornate room. White 
House aides distributed packets of material, much of it 
catalogued, in arguing that Mr. Gore had had every 
reason to believe that die temple event was not a 
political occasion. The vice president’s opening re- 
marks, his delivery, his very tempo were different from 
those he customarily used at events he knew were purely 
political, they argued, citing for comparison examples 
of his remarks at a political event later that day. 


Budget Office Sees 
An Era of Surpluses 

WASHINGTON — A Congres- 
sional Budget Office analysis con- 1 
firms that the combination of a strong 
economy and budget and tax legis- 
lation enacted last month will elim- 
inate the deficit by 2002 and likely 
lead to an era of surpluses. 

Moreover, if all goes well, the fed- 
eral debt — the cumulative total of the 
annual deficits which now exceeds 
$3.7 trillion — would begin to decline 
in 2002 for the first time since the 
early 1970s. 

Bui the budget office's summer- 
time economic and budget outlook is 
forecasting that after a robust per- 
formance this year, the economy will 
slow to a more moderate pace and 
inflation will begin to rise in 199S. 
These developments, if they occur, 
could seriously impede efforts in 
Washington to eliminate the deficit. 

The budget office also cautioned 
that the onset of a recession could push 
the deficit above current projections 
by $100 billion or more for several 
years. Nonetheless, the report lends 
added credence to assertions by Re- 
publican leaders and President Bill 
Clinton diet their bipartisan budget 
and tax-cut policies can simultaneous- 
ly wipe out the deficit while showering 
millions of Americans with new tax 
benefits and government spending. 

For the fiscal year that ends Sept. 
30, the deficit will decline to $34 
billion — its lowest level since the 
early years of the Nixon adminis- 
tration. It will rise again, to $57 bil- 
lion, in 1998. largely because of the 
effects of the five-year, $90 billion tax 
cut package, before steadily declining 
untu 2002, when the budget is pro- 
jected to show a $32 billion surplus. 
Then, according to the report, the 
budget surpluses will climb to as 
much as $86 billion in 2007. (WP) 

Nomination Flurry, 
And More to Come 

WASHINGTON — The White 
House, working to fill senior level 
openings in the administration, has 
announced 46 nominations that are 
headed to the Senate and a dozen 
more to be sent over. 

Many of those officially nominated 
had been announced during the August 
break. The list includes ambassadors, 
judges and a range of subcabinet of- 
ficials, including at least one contro- 
versial candidate: Cardell Cooper, the 
mayor of East Orange, New Jersey, to 
be the Environmental Protection 
Agency's assistant administrator for 
solid waste and emergency response. 

The environmental trade press has 


reported Republican rumblings that 
Mr. Cooper, a Democrat who was 
state chairman of President Bill Clin- 
ton’s re-election campaign, did not 
have the requisite technical experi- 
ence to take on the job. 

Others nominated included: Jane 
Gould as the deputy commissioner of 
the Social Security Administration: 
JuJia Taft as assistant secretary of 
state for population, refugees and mi- 
gration; Richard Griffin as inspector- 
general at the Department of Veterans 
Affairs; Daniel Fried as ambassador 
to Poland; Barbara Bodine as am- 
bassador to Yemen, and Jeannette 
Takamura as assistant secretary for 
aging at the Department of Health and 
Human Services. ( WP) 

Clinton Tries to Save 
Student Testing Plan 

EDGAR TOWN, Massachusetts — 
With the House of Representatives 
poised to gut President Clinton’s 
campaign for national education test- 
ing, White House officials threatened 
a veto Wednesday on any attempt to 
block the program. 

"It would be a terrible mistake for 
people who are afraid our children 
can i measure up — or who have a 
misguided notion that somehow the 
federal government is trying to take 
over the direction of education in 
America — to persuade members of 
Congress not to fund the test,” Mr. 
Clinton said. 

“If there’s one place politics ought 
to stop in America, it's at the school- 
house door,” he said, taking a pause in 
his vacation on Martha's Vineyard to 
make the appeal before teachers and 
staff at the Oak Bluffs School in Edgar- 
town, where classes begin Thursday. 

A House vote is set Thursday on 
the testing program. Representative 
William Goodling. Republican of 
Pennsylvania, who has ridiculed the 
testing program as a waste of money, 
is expected to offer an amendment 
that would bar the Education Depart- 
ment from spending any money on 
developing or administering the 
tests. (AP) 

Quote /Unquote 

George Edwards, director of the 
Center for Presidential Studies in 
Texas, on why President Clinton 
chooses to vacation on Martha’s 
Vineyard, which in recent years be- 
come a haven for newly minted mil- 
lionaires and baby boomers at the top 
of their game; * 'Maybe he has more of 
a need, not being from that crowd. In 
Arkansas, being smart and rich is a 
little different from the rest of the 
country. Maybe he*s making up for 
lost lime.'* (WP) 


Rudolf Bing, Autocratic Met Opera Manager for 22 Years, Is Dead at 95 




By James R. Oestreich 

- Sr*‘ Yor k Times Service 

;NEW YORK — Sir Rudolf 
Bing, who as the dapper and 
acerbic general manager of the 
Metropolitan Opera from 1 950 
to 1972 ushered the company 
into the modem era and into a 
v new home in Lincoln Cenrer, 

. 1 died Tuesday in Yonkers, New 

f Ysx k. He was 95. 

Mr. Bing consolidated the 
Met as in many ways the most 
prominent company on the 
world stage. He used his 
European contacts to draw 
some of most pro min ear stars 
to the Met, and he offered 
significant new opportunities 

for Americans. In particular, 
he broke the company ’s racial 
barrier by engaging Marian 
Anderson in 1955. 

He cut an autocratic figure 
at the Met, where he seemed 
to relish controversy when he 
did not actively court it. He 
had run-ins with some of the 
*V stars of the time, including 
/ Maria Callas, Helen Traubel 
and Robert Merrill. In 1958, 
he "fired” Callas, although 
the incident, as he later took 
pains to explain, was not so 
simple, and he made unsuc- 
cessful attempts to lure her 
back to the Met. 

His tenure included dev- 
astating strikes by the orches- 
tra in 1961 ana 1969. He 
offered his resignation after 
the first one and resigned not 
long after the second. 

“He revolutionized the 

wav the company's produc- 
tions looked by bringing to 
the Met the world's greatest 
directors and designers , saia 


Joseph Volpe, the Met's cur- 
rent general manager, who 
started with the company as a 
carpenter. "On a personal 
note, I shall always remember 
thatit was Mr. Bing who gave 
me my first opportunity when 
he put me in charge of getting 
the opening production of 
‘Antony and Cleopatra' on 
the stage.” 

His later years included a 
farcical episode when in 
1987. at 85, he married Car- 
roll Douglas, who was 47 and 
had a history of hospiializ- 
arions for psychiatric causes 
and three marriages to much 
older men. Mr. Bing was suf- 
fering from Alzheimer’s dis- 
ease, and the marriage was 
annulled in 1989. 

Bom in Vienna, he studied 
voice, but jobs with book- 
stores opened a new avenue 
when the Hugo Heller book- 
store entered the field of con- 
cert management. Mr. Bing 
took a hand in the agency m 
1921, establishing contacts 
that led to posts as assistant 
manager of the Darmstadt 
Opera in 1928 and the Mu- 
nicipal Opera in Berlin. 

"With all this pressure, 
amid all these crises, with 
artists losing their nerves and 
their heads several times a 
day,” he wrote of the expe- 
riences in opera houses. ‘ a 
young man who kept ms 
nerve and his head could 
make a real contribution. 

He married Nina Schelem- 

skaya-Schlesnaya, a Russian 

ballet dancer, m 1928. 5he 

died in 1983. 

In 1934. Mr. Bmg, with the 
producer Carl Ebert and the 


conductor Fritz Busch, 
helped launch the Glynde- 
boume Festival Opera in 
England. He was named gen- 
eral manager in 1935. After a 
wartime interlude working at 
London department stores, he 
became the first artistic di- 
rector of the Edinburgh Fes- 
tival from 1 946 to 1949, when 
he took the Met post. 

After a season observing 
ihe Met's operation under his 
predecessor. Edward John- 
son. Mr. Bing took control in 
June 1950. "All my life up to 
1949 could be seen as the 
proper preparation for being 
manager of the Metropolit- 
an,” he wrote later. 

In 1966, the company 
moved to Lincoln Center, 
opening the new theater with 
the premiere of Samuel 
Barber’s "Antony and Cleo- 
patra,” an occasion damp- 
ened by poor reviews. 

In addition to hiring Mr. 
Volpe. the current general 
manager, he also hired James 
Levine, now the artistic di- 
rector, for his Met debut as a 
conductor in 1971. 

“You don't need wit to run 
an opera house,” he wrote in 
his 1981 memoir “A Knight 
at the Opera." "You need 
style.” Style he surely had. 
yet few would have denied 
ihat he also had wit, and a 
quick one. 

Mr. Bing has often been 
been criticized for a perceived 
neglect of contemporary mu- 
sic. Operas given their premi- 
eres during his tenure, in ad- 
dition to "Antony and 
Cleopatra.” were Barber's 
-Vanessa.” in 1958, and 


"Mourning Becomes Elec- 
rra.” by Marvin David Levy, 
in 1967. 

Mr. Bing, who remained a 
British subject, was knighted 
by Queea Elizabeth in 1971. 
He left the Met in April 1972 
with a gala concert and a per- 
formance of Verdi's "Don 
Carlo," a production with 
which he had also opened his 
tenure. 

Viktor E. Frank!, 92, 
Renowned Psychiatrist 

VIENNA (APj — Viktor 
Emil Frankl, the renowned 
Austrian psychiatrist who 
taught that humanity is 
primarily motivated by its 
search for meaning, died here 
Tuesday of heart failure at age 
92. 

Dr. FrankJ survived four 
Nazi concentration camps, 
but other members of his fam- 
ily, including his parents, 
died there. During and partly 
because of his suffering in the 
camps, he developed a rev- 
olutionary approach to psy- 
chotherapy, known as logo- 
therapy. Ar the core of his 
theory is the belief that man's 
primary motivational force is 


his search for meaning. His 
teachings have been de- 
scribed as the Third Vienna 
School of Psychotherapy, 
after those of Sigmund Freud 
and Alfred Adler. 

In his book "Man ’ s Search 
for Meaning,” of which more 
tha n 2 million copies were 
sold. Dr. Frankl said "logo- 
therapy regards its assign- 
ment as that of assisting the 
patient to find meaning in his 
life.” 

According to logotherapy, 
one can discover the meaning 
in life in three ways. Dr. 
Frankl wrote: “(1) by cre- 
ating a work or doing a deed; 
(2) by experiencing some- 
thing or encountering some- 
one; and (3) by the attitude we 
lake toward unavoidable suf- 
fering.” 

And he insisted: “We must 


never forget that we may also 
find meaning in life even 
when confronted with a hope- 
less situation,'’ a theory he 
gradually developed in the 
Auschwitz and other concen- 
tration camps in 1942-45. 

He was born in Vienna in 
1905. In 1930 he earned a 
doctorate in medicine and 
then was in charge of a ward 
for the treatment of suicidal 
women. When the Nazis took 
power in 1938, he was put in 
charge of the neurological de- 
partment of the Rothschild 
Hospital, but in 1942 he and 
his parents were deported to 
the Theresienstadt camp 
north of Prague.. 

In 1945, Dr. Frankl re- 
turned to Vienna, where he 
became head physician of the 
neurological department of 
the Vienna Polyclinic Hos- 


pital, a position he held for 25 
years. He taught regularly at 
the University of Vienna until 
the age of 85. 

His 32 books on existential 
analysis and logotherapy 
have been translated into 26 
languages. He held 29 hon- 


orary doctorates from uni- 
versities around the globe. 

Starting in 1961, Frankl 
took five professorships in 
the United States — at Har- 
vard and Stanford as well as at 
universities in Dallas, Pitts- 
burgh and San Diego. 


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PAGE 4 


I3VTERNATI01\M HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 1997^ 

INTERNATIONAL 


Diana, in Charity Visits, 
Often Shunned Publicity 


By Richard Boudreaux 

Los Angeles Tunes 

LONDON — On a raw winter nigt in 
1994, Diana, Princess of Wales, dropped by 
a shelter called Off the Streets to comfort 40 


prostitutes, drug addicts and otherhoraeless 
Londoners. 

As they waited, a swaggering 23-year- 
old told Paul George, the social worker m 
charge: “I don’t know about these royals. I 
think the IRA should shoot them all She 
comes in here, we can give her a good 


Buckingham Palace set up an official me- 
morial fund in her name on Tuesday. 

While welcoming that move, Britons in- 

igt in volved in these causes said Diana’s true 
?ed by legacy was noi the millions she raised with 
ort40 celebrity lunches and auctions of her fash- 




-IS##: 1 


uuc. _ r 

‘‘Then Diana walks in, and he s the first 
person she sees in this big warehouse,” Mr. 
George remembers. “She walks over to 
him, and I’m thinking, ‘Oh my God, this is 
going to be trouble!’ " 

“But then Diana says: ‘It’s Ricky, isn’t 
it? Didn't 1 meet you when you were sleep- 
ing down in the Strand?’ And he just 
melts.” 

“‘That’s right,’ he says, ‘I’m getting 
myself together now.’ ” 

That story is one of many surfacing this 
week that suggest Diana touched the sick 
and the down-and-out far more often and 


i enable clothes but an irreplaceable com- 
passion she brought directly to people. 

The British-based Leprosy Mission and 
the National Aids Trust credit Diana with 
easing the stigma of those diseases by em- 
bracing sufferers on camera, dispelling the 
myths chat either can be spread py human 
contact 

She also held publicized benefits for the 
Centrepoim organization for the homeless, 
the English National Ballet, the Great Or- 
mond Street Hospital for children and the 
Royal Mardsen NHS Trust cancer treat- 
ment center — the few charities she focused 
on after resigning from 100 others in July 
1996, just before her divorce from Prince 
Charles. 

But Diana kept most of her work from 

K * * Ic view not to spoil its intimate nature. 

a went Incognito to the Strand to visit 
vagrants sleeping on the pavement, Mr. 
George said, and a few months ago she 
hrnnohr her two sons to helo prepare a meal 



FUNERAL: Route Enlarged 

_ ^ i continued Wednesday at Sl^ 

Continued from rage i James » s palace, Kensingt 




rt 

Mi' 


funeral in consulmnon vvttb 

Diana’s family and the office 
of Prime Minister Tony 
said the changes "erermrie 
because of growing estimates 
of the expected crowd, twt 
simply as a bow to public 

Pkss. 1 *:- . . 


James’s Palace, Kensmgti^y 
Palace, Buckingham Pala<g\£- 
and other sites around tfae^ 


* -t '-Ov*- 

weris % 


“We’ve always tried to 
consider a way of lengthening 
the route in such a way that 
more people would be able ® 
see the procession in safety, 
an official said. 

“Doing it this way by us- 
ing the parks — Kensington 
Gardens and Hyde Park — is 
a safe and secure way of en- 


tity- 

Flower vendors wefts 
swamped by jt^uestsfor I 

quets that piled up outsideftA. v. I 
palaces, and traffic wa£ 
Varied as a result of thct^J 
cision to close major artenes”.v ; , 
in the area of Buckingham --, 
and St. James’s. “ 

As the lines of mounml-^j. 
swelled, officials took o 
steps to accommodate 

crowds. . , , 

Mourners waited for up td r 
1 1 hours ovem ight to have a& r v; 
opportunity to record 


t riel £,v 1 

n« u \,: IlW r 


A 






a sate ana secure way ™ 1“ “ n f SV mDathy and offrq 

suing ftaimore I® 0 ?'® ““ ^^jLbSSbLkeB^ 

,Hc route hot tea to ease the effects o£ 


A policeman writing his message of condolence for Diana in London on Wednesday. 

PRESS: Photographers Deny Crash Interference 

Continued from Page 1 the photographers and a mo- and Dodi when they left tfae 


The death of Diana, described by the 
London newspaper The Independent as 


orate security procedures, such as changing 
cats, to throw photographers off her trail. 
While it was never a secret that the 


probably the most successful fund -raiser princess conducted missions of comfort oat 


on the planet,” has set off a flood of new 
offers to her favorite charities. In response. 


of the limelight, their extent is just starting 
to become known. 


damaged the celebrity agen- 
cies, it has damaged the entire 
business,” said Francois 
Hebei, Paris director of Mag- 
num, a photo agency that was 
not involved in the Diana 
chase. 

More voices Wednesday 
called for the establishment 
of a code of conduct for jour- 


the photographers and a mo- 
torcycle driver. 

All seven agency employ- 
ees were placed under inves- 
tigation for involuntary hom- 
icide as well as for falling to 
aid the victims of the acci- 
dent. Mr. Paul had drunk the 
equivalent of nine alcoholic 
beverages, experts calcu- 
lated. A French radio station 
on Wednesday broadcast an 


and Dodi when they left the 
Ritz. Their regular car and 
driver were used as a decoy to 
lure photographers away but 
not all were fooled. Mr. 
Langevin merely happened 
on the crash while driving 
home, he said. 

If the other photographers 


see the procession. 

The alteration in the route 
forced another change in 
plana. . . 

Originally, the palace said 
that the procession would in- 
clude 500 representatives of 
charities associated with Di- 
ana, many of them children or 
disabled persons. Palace of- 
ficials had said they were re- 
luctant to lengthen the route 
in part because of the hard- 
ship it would cause those 
people. 


the cold weather that has!....: 

settled in. . •> 

Officials continued to a off- > 
more books of condolence to’ 
accommodate the hues, arifr--— 
by Wednesday the number* 
had risen to 43. . ' * - 

The prime minister- 
emerged briefly Wednesday 
to describe the changes and ti>; ' ' 
defend the royal family frodij . 
criticism that it has been iiHV 
sensitive to the public's” 


snF* 5 *'- 
wi -’ 4 ;’i . 

pan*-' - 

; . 

nu-* 

iw«i? 

i ’ ■ * . 
: 


V TTie new route will cany wishes in preparing the fir- 
the coffin along the southern neral. " - 


side of Hyde Park, then past 
Buckingham Palace to Sl 


trailing the Mercedes seemed James’s Palace. 


PRINCE: Britons Grow No Fonder of Charles 


nalists to, in the words of the interview with someone iden- 
French rock singer Johnny tified as a private chauffeur 


desperate, they probably At that point, the 500 rep- 
were. The major photo agen- resentatives will join the pro- 
cies are facing a new world of cession and continue to West- 
competition and pressure un- minster, 
known even a decade ago. Those wishing to pa; 

New agencies are taking busi- respects also will have ; 
ness away, competition from porrunity to watch tin 
other services is increasing cession as it makes its w 
and demand is frenzied for the of central London no 
most difficult, most invasive Althorp and the Spence 
and thus most lucrative ily chapel, where Diac 
celebrity shots. be buried. 

* ‘The market has increased The post- funeral 


Continued from Page 1 


— this would never have happened. She’d 
never have had to go elsewhere.” 

“He’s in a sad state, is he?” harrumphed 
85-year-old Morris Regan, part of another 
vast assembly of mourners outside Kensing- 


declared that the next monarch should be his 
and Diana's older son, Prince William, 15. 

“1 don’ t know if people will forgive him for 
this,” she said. “I know J won’t. I don’t think 
he deserves to be king.” 

Even if the outpouring of sympathy for 
Diana diminishes with time, royal watchers 


Hallyday, redefine “the bor- 
der between freedom of the 
press, which 1 respect, and the 
right to come and go in 


peace.” He was writing in Le 
Monde. 


ton Palace, Diana's official residence. “Let pointed out that Charles has a long-term pub- 


me tell you this: I’m a royalist T like the 
royals. She was a lovely lady. A credit to 
Britain. His tears? Guilt. He was a two-timer, 
wasn’t he?” 

“Look ai all the people here,” Mr. Regan 
said. “What does the country think of him? 
Well, he didn't think it would end this way. 
And he never counted on this.” 

Royal watchers are debating whether Di- 
ana, even in death, will control Charles's 


lie relations problem: Diana will remain 
forever young and forever tragic and forever 
wronged. Can Charles ever hope to com- 
pete? 

* ‘Perhaps the mood of the royal fans will be 
forgiving,” wrote Polly Toynbee, a colum- 
nist. “Perhaps they will take pity on him in all 
his contorted awkwardness, so ul at ease with 
everything in his life. Perhaps they will for- 
give Camilla, whom Diana fingered so firmly 


Monde. 

On Tuesday, Culture Min- 
ister Catherine Trautmann 
urged discussion of an inter- 
national code of privacy pro- 
tection. 

France's privacy laws are 
among the strictest in the 


who was at the Ritz that night 
and who said Mr. Paul was 
drunk. 

“Everybody knew when 
he wasn 't working he drank. ” 
said the man, whose voice 
was disguised. Mr. Paul was 
unexpectedly called into 
work that night after a decoy 
plan to throw off the 
paparazzi was organized. 

Didier Contant, chief ed- 
itor of the agency Gamma, 


Those wishing to pay their 
meets also will have an op- 


respects also will have an op- 
portunity to watch the pro- 
cession as it makes its way out 
of central London norm to 
Althorp and the Spencer fam- 
ily chapel, where Diana will 
be buried. 

The post-funeral route. 


tremendously in terms of along which Diana’s body 
money and because of the will be carried in a hearse. 


world — taking pictures of said that after the crash, Ro- 
someone in a car invades their mu aid Rat, a Gamma pho- 


rnoney the business has or- 
ganized much more,” Mr. 


includes some of central and 
north London’s main arteries 


Hebei said. “There's a lot of and will accommodate some 


“All our energies are dif-; 
ecred now toward hying to 
make this as tremendous a' 
commemoration of Princess- ^ 
Diana as possible,” Mr. Blair" 
said. 

’• *To make sure we involve^ - 
as many people as possible stf - : 
we can express our own sense'; 
not just of national loss bqt- ; 
personal loss.” 

He said that members of J 
the royal family “very^ - 
strongly” shared those” • 

views. . 

Mr. Blair also jumped into, 
a controversy over plans to go* -V- 
ahead with a World Cup S 0 C 7 ” • 
cer match scheduled for Scor-” .. 
land on Saturday. ' ; 

The match is the rally 


-r->" 


fee tr>’ - •’ 
Mr*- 
icPntr. ■ 
\i \ 4 


destiny. Britans still do not much like the as the destroyer of her marriage. 

- -J 1 , I J »n.., M 1 


woman with whom Charles cheated on Diana, 
Camilla Parker-Bowles. and analysts say Di- 
ana's death makes it less likely that Charles 
will be able to formalize his relationship with 
her. 

“Camilla should leave the country,” said 


she added ominously, “perhaps 


privacy, for instance — al- 
though those laws did not stop 
the car chase along a riverside 
highway that ended with the 
death of Diana. Dodi al Fayed 
and the driver of the Mer- 
cedes S-280 that was carrying 
them from their dinner at the 
Hotel Ritz. 

On Wednesday, lawyers 


In any event Charles will come under even On Wednesday, lawyers 
greater public scrutiny in coming weeks, if and advocates for the agency 
that is possible. Those more sympathetic to photographers continued to 
his plight are calling his task “agonizing' * and say they were being treated as 


one woman, who echoed the sentiments of his prospective struggle to find serenity for 


countless mourners here Tuesday. “Without 
the mistress, none of this would’ve 
happened.” 

“I think Charles is to blame for all of this,” 
said Jean Lewis, who waited in line at St 
James’s Palace to record a tribute to Diana in 
the book of condolence. “She would have 
been quite happy at home with her two boys. 
Will he take those two boys to McDonald’s as 
she did? I don't think so.” 

She, like others interviewed, said Charles 
has forfeited the right to become king and 


himself and his sons “a sad story.” He has 
undertaken his initial duties in the wake of 
Diana’s death admirably, supporters note; his 
journey to Paris to bring her body home 
earned him respect among those who mold 
opinion about the royals. 

Miss Toynbee wrote that no one should 
view the prince now as an “out-and-out" 
villain. 

“He wanted to be the right man in that 
marriage and in life.” she said. "He just 
couldn’t do it.” 


scapegoats when the real cul- 
prit was the driver. Henri 
Paul, who authorities say had 
more than three times the le- 
gal limit of alcohol in his 
bloods tream. 

“The fact of following a 
car has never led to invol- 
untary homicide to my know- 
ledge, especially when the 
driver didn’t know what he 
was doing,” said Jean-Marc 
Coblence. lawyer for two of 


tographer, had opened the car 
door and taken Diana's pulse. 
Trained in first aid, Mr. Rat 
told her, “Don’t move. Help 
is coming.” Mr. Conant told 
The Associated Press. 

He did not deny that Mr. 
Rat, like the others, took pic- 
tures of the injured princess. 
Mr. Rat is one of two pho- 
tographers sanctioned more 
severely by the judge inves- 
tigating the crash, Herve 
Stephan. He and Christian 
Martinez of the Angeli 
agency had to post bail of 
100.000 francs (SI 6 , 000 ), 
stay in France and not work as 
journalists. The others were 
released without bail. 

Another photographer. 
Jacques Langevin, a well- 
known phorojoumalisL said 
in an article written for the 
newspaper Liberation that he 
had declined to follow Diana 


money to be gotten and they 
are ready to get it at any 
cosl" 


of the huge crowds expected sporting event that has not' 


A picture of Diana, of television screens would be 
course, was the most valuable set up in Hyde Park to gjve the 


in the world, and Wednesday a 
small photo agency admitted it 
had initially sold some pictures 
of Diana hurt and trapped in 
the car, then withdrew them. 

Laurent Sola, head of LS 
Presse, told Europe I radio 
and France 2 television that 
two photographers from his 
agency took pictures at the 
crash site and fled before po- 
lice could arrest them. He said 
he bad commitments from 
publications in France, Ger- 
many and the United States to 
buy the pictures, but that he 
canceled the sales after he 
learned of Diana’s death and 
before the pictures were de- 
livered. Even so, he said, pub- 
lications “keep calling and 
asking for the photos.” 


to attend. been canceled, and Mr. Blair, 

Officials said that large said he “totally supports ’ ’ tber 
television screens would be efforts of the Scottish sec re- 
set up in Hyde Park to gjve the tary, Donald Dewar, to stojr 
public access to coverage of it. 


the funeraL 


Mr. Blair’s office said the* 


Only 2,000 people will be prime minister believed fr- 
uited to attend the services would be “totally inappropri-’ 


invited to attend the services 
at Wes tmins ter. 

Meanwhile, the mourning 


ate for the 
ahead.” 


to gee 


BRIEFLY 


Algeria Said to KUl 47 Rebels 


PARIS — Algerian security forces have killed 47 
Islamic rebels, including their leader, in an operation that 
is continuing southwest of the capital, a national news- *■ 


paper said Wednesday. 

El Khabar said the operation in Sidi Bel Abbes, 375 ~ 
kilometers (230 miles) southwest of Algiers, began sev- 
eral days ago and involved troops, gendarmes and vol - 
unteer forces. Arms and documents had been seized, it-* 
said. The security services refused to say if they bad - 
suffered any casualties. (Reuters) 


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MINES: In South Korea, the Devices Mean Security From a Swift Invasion by Forces From the North 


Surrender /■>/■ 


Continued from Page 1 


the minefields. As supporters of mines here 
see it. land mines in South Korea are virtually 
a symbol of peace and security. 

“Many people talk about the humanitarian 
aspects of land mines,” said Lieutenant Gen- 


erode the moral force of the eventual ban on 
mines and encourage other countries to try to 
weaken the final document. 

It is still unclear how much political heat the 
White House is willing to absorb to fight for the 


the years after the war many civilians were 
killed when forgotten mines exploded. There 
are still some incidents today, but they are 
rare. 

The minefields, which were intended to 


right 10 use land mines in Korea and whether ir stop a North Korean invasion, are in zones that 
might eventually cave in under pressure. Land ordinary civilians are not allow ed to enter. 


era) Park Yong Ok, deputy defense minister mines are nor the kind of things that either The mines are mostly not in the demilitarized 


and a fervent defender of the mines. “De- 
terrence of war is more humanitarian than 
anything. If we fail to deter war, a tremendous 


politicians or generals relish defending. zone between the two Kerens — for it is, after 

This is one battle in which the U.S. forces in all, supposed to be demilitarized. Instead, they 
South Korea showed no enthusiasm for step- are placed on the main invasion routes that 
ping forward to back their commander-in- North Korea would be expected to use. 
chief. Officials here said that no American “We don’t put mines in the DMZ, bur if 
military officer here would speak in favor of you go one millimeter south of it. you've got 


number of civilians will be killed. And the use ping forward to back their commander- in- 
of land mines is a very effective way of chief. Officials here said that no American 


deterring war.” 

It may be difficult to win approval for the 
Korea exemption in the negotiations, because 


the exception for land mines in Korea. 

Three times the U.S. military forces sched- 


ule talks — called the Ottawa Process, since uled visits for a reporter to meet front-line 


Canada is leading the way — are dominated 
by countries that are firmly opposed to the 
mines. Some major mine-producing coun- 
tries, like Russia, China and North Korea, are 
not joining the talks and are not expected to 
adhere to any ban they produce. 

In any case, critics of the U.S. position warn 
that Washington’s insistence on an exception 
for South Korea could delay the negotiations. 


troops who supposedly would explain why 
mines are necessary in Korea, and each time 
they canceled. The problem, an official ex- 
plained, is that none of the soldiers wanted to 
say anything nice about something so widely 
associated in the public mind with mutilated 
children. 

Land mines were widely used by both sides 
in the Korean War from 1950 to 1953. and in 


to be really careful where you walk.” said Jim 
Coles 3d, a civilian spokesman for the 37.000 
U.S. troops in South Korea, who addressed 
the issue after his colleagues in uniform de- 
clined to. “The use of mines here is extensive 
but judicious, aimed at preventing break- 
throughs and not just at blowing people up.” 

Mr. Coles cited three purposes for the 
mines in South Korea: to deter a North Korean 
attack, to slow any invasion and thin enemy 
ranks, and to force atiackcrs into more vul- 
nerable territory, called "kiiline zones” in the 


military. While most of the minefields were 
laid years ago, they still require some main- 
tenance and replacement, officials said. 

Periodic brashfires sweep through the hills 
near the demilitarized zone, causing mines to 
explode and obliging troops to lay new ones. 

Every military expen is sure that the U.S. 
and South Korean forces could defeat a North 
Korean attack without using land mines. But 
most of the experts say that to slow a North 
Korean invasion and hasten its end, it would 
be helpful to lay new mines as well as rely on 
existing minefields. 

A fundamental of North Korean military 
doctrine is said to be surprise and speed in any 
attack, so that the North could seize the entire 
peninsula before U.S. reinforcements arrived. 
So the essence of South Korean planning is to 
frustrate any North Korean blitzkrieg with 
mines and tank traps and ro bog it down until 
reinforcements arrive. 

South Korean planners say that another 
reason why they need to slow any invaders is 
that their capital. Seoul, which has 1 1 million 
inhabiumis, is less than 65 kilometers (40 
miles) from the North Korean border. 


Iraq Welcomes Iran Pilgrims 


It 

hen 


BAGHDAD — Iraq will open a border crossing Thurs- 
day with Iran to receive Iranian visitors at its Shiite, 
shrines for the first time in 17 years. 

“Everything is ready,” a supervisor of an Iraqi border ' 
post told reporters. “Iraq is prepared to handle Iranian 
visitors as from Sept. 4. ” 

There was no official reaction from Tehran whether it 
would allow pilgrims to travel to Iraq. 

On Aug. 18, President Saddam Hussein decided to 
allow a resumption of Iranian visits, which were sus- - 
pended at the start in 1 980 of Iraq-Iran War. 

Travel agencies said 30 buses would wait Thursday for .< 
Iranian pilgrims at a border post. (Reuters) , 


18 Mexicans Held for Cocaine 


MEXICO CITY — Mexico has arrested 18 airport » • 
workers after more than 74 kilograms (163 pound s) of ‘ 
cocaine were discovered onboard a plane at the in- - . 
ternational airport here, officials said. . 

The attorney general’s office said late Tuesday that the ’• i v 
drugs were transported from Tapachula, near Mexico's ' . v 
southern border, to Mexico City aboard a GI -Grumman - 


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( Reuters ) 


AIDS: Healthy Volunteers Line Up to Test Experimental Vaccines MALAYSIA: Mahathir Plans to Inject $20 Billion Into Economy 


Continued from Page 1 


bad. Political and economic 
will may also be on the rise. 
This summer. President Bill 
Clinton declared a national 
goal of producing an effective 
AIDS vaccine within 10 
years. He also called for the 
quick creation of a vaccine 
research center at the Nation- 
al Institutes of Health. 


of the world's new cases are 
emerging. “We’U never end 
this epidemic unless we have 
a vaccine,' ’ said Sandra Thur- 
man, chairman of the White 
House Office of National 
AIDS Policy. 

Recent progress notwith- 
standing, the art and science 
of making a vaccine remains 
frustratingly inexact — and 


to countries that demand ev- 
idence of HIV status. 

Even Mr. Lynch, who 
works as a case manager at a 
local agency that distributes 
emergency financial aid to 


Mr. Belshe. who heads the 
AIDS Vaccine Evaluation 
Group, an National Institutes 


Continued from Page 1 


Analysts and brokers in 


of Health-funded network of Malaysia were reluctant to 


research sites in six U.S. cit- 
ies. Making matters worse. 


people with AIDS, had. the virus infects the very im- 
second thoughts when he raune system cells that are 


tame in for the first of three 
scheduled inoculations. 
“There was a brief moment 


“It’s still not going to be fraught with dangers. Jn Mr. 
easy.' ' said Patricia Fast, as- Lynch’s case, for example, no 


the testing process remains of anxiety,” he conceded. 


meanr to attack iL — die cells 
a vaccine is designed to 
rally. 

The usual approach is to 


sociate director of the vaccine 
and prevention research pro- 


uia prevention research pro- gineered bird virus might 
p?m of the National Institute someday make him or his fel- 
br Allergy and Infectious low volunteers ill. Also wor- 


one knows whether the en- contracted HIV in the past 
gineered bird virus might few years, ” he said softly. “If 


“But I’ve had a couple of conduct studies in animals, 
very close friends who have But here, too, HIV has been 


uncooperative. 


Diseases, the branch that 
holds primary responsibility 
for the federal u-ar against 
AIDS. “But the idea that it’s 
impossible," Ms. Fast said, 
“is gone.” 

The need for an AIDS vac- 
cine has never been greater. 
Although new and potent 
drugs are proving remarkably 
effective in many patients, 
scientists are concerned that 


low volunteers ill. Also wor- closer to a vaccine, then it’s 
risome: Animal studies have well worth iL” 


few years,” he said softly. “If dots not infect mice or mon- 
it helps get us even one step keys, the workhorses of basic 


suggested that AIDS vaccines 
may in some cases speed, 
rather than slow, the progres- 
sion of AIDS in vaccinated 
people who eventually be- 
come infected with HIV. 

Moreover, any experi- 
mental AIDS vaccine worth 
its sting will leave volunteers 
awash in H7V antibodies, 
which means they will test 


In his office overlooking 
the Sl Louis University cam- 
pus, Mr. Belshe recalled his 
involvement in previous vac- 
cine efforts, which ultimately 


biological research. And al- 
though chimpanzees can be 
infected with HIV. they do 
not become sick for at least a 
decade — making them only 
marginally more useful than 
human beings in studies of 


led to die development of vaccine efficacy. 


highly effective vaccines for 
measles, whooping cough 
and a fatal kind of childhood 


So it is thus researcher* 
have called upon an ever 
growing number of human 


those benefits may not last positive on an AIDS test even 
forever. And the new drugs if they do not have AIDS. 


influenza. The challenge of volunteers to help them test 
creating an AIDS vaccine is experimental AIDS vaccines. 


are largely unavailable or un- 
affordable in developing 
countries, where 95 percent 


That could wreak havoc with 
efforts to gain employmenu 
insurance, or visas for travel 


unlike any other he has faced, 
he said. 

HIV’s uncanny knack for 
mutation makes it a con- 
stantly moving targeL said 


To date, more than 2.000 
healthy volunteers in the 
United States have participat- 
ed in about 40 small clinical 
trials. 


comment on Mr. Mahathir’s 
announcement, fearing retal- 
iation. 

Analysts at two different 
firms here cited a mood of 
“paranoia” following press 
reports that officials might 
use Malaysia’s Internal Se- 
curity Act against any foreign 
traders believed to have aided 
foreign speculators in de- 
pressing the market. 

In London, foreign fund 
managers said that the plan 
would only further erode in- 
ternational confidence in 
Malaysia, which was shaken 
last week when short-selling 
of blue-chip s'hares was 
banned. 

“h is not going to work, it 
i> non>cnsc.” Edmund Har- 
riss at Guinness Flight Ham- 
bro Asset Management in 
London told Reuters. 

“There are enough people 


London. “The measures Ma- 
hathir is coming up with are 
increasingly desperate. The 
only way the market will rise 
is if there is broad confidence. 

That will only happen if he 

begins to pay attention to the nounceo: companies were poor. We are nor JT' ! . 

economic fundamentals.” told they would be allowed to emies with mak “S en-,. | \V -,f-* . 

Mr. Mahathir last week buy back their shares and laS Sta IS? m?ki„ pe ° pIe - ut I 

urged local pension funds to w«k the stuck nStTrule- ^ 8 I ^ Sl; 1 

end “National ^ay "address! ^ and deafc j 

Mr. Mahathir called on all stituting the ban on blue-chip an«rer and ^SSl**** 1 -- . 

Malaysian citizens to show short-selling. p , h ° cnat 2«f lwwl ? e ^ xnenl ^ f ' 

their patriotism by supporting The rule change hit foreign pronoMcememf^mf^ ^ v i ? 

the stock market. institutions particularly haS ^lah C 

The market’s fall Wednes- because of Si need ro retaliat,on 1 J s T J 

day was accompanied by an- access to fends abroad. g Sv, a ^ - fr, ’ ‘ 1 * 1 *’ 

other drop in the nnggii, Wednesday’s announce- ’ boa ?f and cu ^ ; ; 1 v'K- , v 

which fell to an all-time low ment, too. set out different I ? nc,e ? ^ ave tumbled across ■ 
of 2.986 against the dollar, roles for foRrifin and domS* ,n . r “ ent weeks, gov-” , 

The Malaysian currency has investors. Shires sold bv lo- f hav . e increasingly- -f.,' -'■■■ 

slipped over 15 percent since cal investors would be bought securities'.' - 

July 2, when the Thai baht by the government "v 1 fir ? s ^ *eir analysts . - 

^effectively devalued. premium.’ ’ Sfr hir ^ ier ,n the Week *e As- - >* J - . .• . 

Other Southeas! Asian cur- said, while foreigners wonlH r!? lalIOn . 0f Stock brokine ^ 

rencies, led by the Thai baht, receive a “imS Companies passed a resold' 1 


urged Jocal investors that it them for the market’s slide, 
was the “best time to buy “I say openly, these oeoDfeT 
shares. That was Aug. 7. are racists. They are^nbr 
pie market continued its happy to see us prosper,” he 
sbde rn subsequent weeks and saiU “They say we grow tw" 


no u need: Companies were 
told they would be allowed lo 
buy back their shares, and last 
week the stock market’s rule- 
book was changed, shorten- 
ing settlement times and in- 
stituting the ban on blue-chip 
short-selling. 


** - 
fc^rair.,- r '!' 

‘“■-‘lu 

h f; - 
y r v ' r; cv. . . ■ 

MUlc-, 

■ - 

p.'v 

. 

u '°«tdiC. J ' . - 


Sc, 


s Tt 

. t r i,. k 


was effectively devalued. 

Other Southeast Asian cur- 
rencies, led by the Thai baht, 
also plunged to record lows 
against the dollar Wednesday 
as the region’s monetary 


said, while foreigners would 
receive a “market price.” 
, £ pnm * minister did not 
elaborate on the plan and ana- 


willing to sell that that 60 crisis began its third month 
billion ringgit will disappear with the bottom far from 


lysts said they were not sure 


uon seeking to "flush out ma-' 
nipulators. Present at the ' 


relatively quickly." said 
Hugh Hunter, a fund manager 
ai LGT Asset Management in 


how ii could be implement 


view. 

Early in Mr. Mahathir's 
stock market crusade, he had 


Mr- Mahathir repeated 
Wednesday his attack onfor- 
eign speculators, blaming 


J3JS5J8 a government;- 
minister, who said analysts > 
and writers who wrote nee-' * 
ative things about the econ-- * 
omy should be fired by their" 

employers. The Straits TinS 
reported. • _ 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 1997 


PAGE 5 


EUROPE 


,No Delay Planned 
In Scotland’s Vote 

But the ‘ Diana Trace’ Complicates 

Campaigning o n Devolution L 


ssue 


By Tom Buerkle 

Jniernurional HerjU Tribune 


— whether to give Scotland 
its own Parliament for the 
first time since 1707, when 
the local chamber was 
merged with England 's — re- 
mains solid, support for the 
second question — whether 
to give mat body the power to 
raise the income tax by up to 3 
percent — has slipped. 

Doubts about that question 
have grown since Sir Bruce 
PatmUo, governor of the 
Bank of Scotland, said two 
weeks ago that higher iaxes 
would nuke Scotland *' ‘stand 
out like a sore thumb" from 
the rest of the United King- 
dom, discouraging invest- 
ment and jobs. 

According ro a poll in The 
Herald, a Glasgow daily, on 
Tuesday, support for tax-rais- 
ing powers slipped below a 
majority for the firsr time, to 
47 percent from 54 percent a 
month earlier. 

The referendum provides 
the first big test for Mr. Blair. 

The decentralization of 
political power is a major 
plank of the government’s 
program, with the Scottish 
referendum to be followed by 
a similar vote in Wales a week 
later and eventually by a ref- 
erendum on a mayor and local 
authority for London. 

What’s more, Scotland is a 
bedrock of Labour support 
with not a single Conserva- 
tive member of Parliament 
Any setback would be a harsh 
embarrassment. 

In a possible sign of nerves, 
the Welsh Office minister, 
Peter Hain, was quoted by 
The Financial Times on 
Wednesday as having called 
the Diana truce a ‘‘setback*’ 
tt> ' the government's cam- 
paign in Wales. 

With so little time between 
the funeral and the referen- 
dum, some are wondering 
whether Diana’s death will 
actually affect the outcome. 

*‘A wave of sympathy for 
the dead princess could well 
translate into a feeling that the 
referendum offers Scotland 
Its opportunity to move away 
from the iron grip of an in- 
stitution -which has outlived 

campaigning- its^purpose." . the .columnisU 

Still, ihe latest signs are that Magnus Linkiaier wrote in j 


-■•LONDON — It started as a 
simple mark of respect for the 
njpmory of Diana, Princess of 
wates; a truce to campaign- 
ing over Scottish devolution 
U\3t was agreed to by political 
parties within hours of her 

; death Sunday. 

„.Bui with voter apathy ap- 
parently widespread in Scot- 
land and the Labour govern- 
ment planning only a 100- 
bour blitzkrieg campaign in 
‘^y® r °f a Scottish Parliament 
with tax-raising powers, there 
is-growing concern that Scots 
are being denied a proper de- 
bate before they decide next 
Thursday whether to bring 
about the biggest constitu- 
tional change in Britain in 
nearly 300 years. 

■Gerald Howarth, a member 
of. Parliament from the op- 
position Conservative Parry, 
which is generally opposed to 
devolution, added his voice 
Wednesday to the mourning 
calls to postpone the rwo- 
^ question referendum. 

“I believe that thejiesire to 
show respect for the late prin- 
cess should be matched bv a 
similar desire to show respect 
for the democratic process." 
Mr. Howarth wrote in a letter 
to Prime Minster Tony Blair. 

-"AH sides to the argument 
acknowledge that the devol- 
ution issue goes to the heart of 
the constitution of the United 
Kingdom. It is therefore es- 
sential that the electors have 
the time to hear and to par- 
ticipate in a measured debate, 
not one crammed into four 
frpnetic days of activity," 

The Scottish Secretary, 
Donald Dewar, rejected earli- 
er. this week a similar plea 
from one of the Labour gov- 
ernment’s own members of 
Parliament, Tam DalyelL 
■“* - And a spokesman for Mr. 
Blair said Wednesday that the 
government would stick to its 
guns, insisting that home rule 
has been a burning issue in 
Scotland for years and dial 
voters would not be short- 
changed by this week’s halt in- 


Mr. Blair and his 'government 
will have their work. cut out 
for them when they resume 
campaigning on Sunday. 

• Although support for the 
referendum’s first question 


The Times 

But Richard Mowbray, a 
leader of an anti-devolution 
group, said that Diana's death 
had “heightened a sense of 
Britishness" in Scotland. 


! : 


Surrender for Trial, 
NATO Tells, Karadzic 

Reuters 

WASHINGTON — The Supreme Allied Commander of 
'\ NATO forces in Europe called Wednesday on the Bosnian 
M Serb hard-liner, Radovan Karadzic, to surrender for tnal on 

. ' V Gaw^Wesley Clark said at a Pentagonnews briefing:“He 

“looking very carefully" at the status of Mr. Karadzic s 
armed bodyguards, and suggested that peacekeeping P 

were specialist police wto 
a^."« » iatunidale peacekeeping 

rioops, who S “we^3T <£!f aUmrans necessary 

■ Associate of Hard-Liner Seeks Pre-Trial Talks 
• Mr. Karadzic wants United Nationslawyerato come to 
Bosnia for a pre-trial in 

dmges^one^^hbi T* Associated 

Press reported tomBelgrade^ buima rights envoy, Elisabeth 
Theofferwasmadetoa^hwnan - Karadzic associate 
R5hn, by Momcilo Krajisnik, a strongho id. 

during a meeting m Pale, . Serb mem ber of the 

'Mr- Krajisnik, who * safety of witnesses 

tltfee-man Bosnian P^. d * n SJ * invesrigar'— -f indictments 
would be guaranteed dunng 
aoainst Mr. Karadzic and General Raixo 
leader of the Bosnian Serb army. 

Rebuffing Cosmonauts’ Critics, 

Russian Says They -4reHer« 6 

Vasili Vasiliyewch TsibU} e\ 
Reuters Xid Alexander Ivanovich 

nitAcrOW A top R us " ,i*;_ •« caid Boris Os- 

’ nauts who manned the ^ this prelimm^v 

“ace aSrion d-mi* * *e" d 

En£ --r de - SflSrSK 

gfUSSj Mr- 9f noU ' 

\T?W^v re ^,ble 

JfflcfcS T -,de dories 

:“ We tove nfdecorarc *eir orbital mission. 

pared a proposal to oec 



BRIEFLY 


The decision followed talks between government officials 
and local representatives backed by members of the U.S. Open 
Society Institute, an umbrella body for the foundation that was 
set up by George Soros, the investor and philanthropist 
Relations have grown increasingly tense since March, when 
the foundation’s local executive, Peter Byrne, was barred from 
entering Belarus. He was accused of sponsoring the op- 
position, including members of the media who criticize Pres- 
ident Alexander Lukashenko’s style of rule. (Reuters) 


Remy dt b Mammkn/nir A.-ai,iiIcd Pit®* 

Justice Minister Elisabeth Guigou entering her 
car after the weekly cabinet meeting Wednesday. 


French Justice Minister Refuses 
To Resign During Investigation 

PARIS — The French justice minister, Elisabeth Guigou, 
said Wednesday that she would not resign although she is 
under investigation for suspected slander after having accused 

the wife of Paris's mayor of corruption. 

“Resign? Why? For having done my job as opposition 
deputy? You are joking," she said. _ _ _ 0 . r 

Mrs. Guigou ’s lawyers disclosed Tuesday that she was the 2 BntOUS Damage NlClvV FOUnt OUl 
target of a slander investigation because of a television in- ” " 

terview she gave in March. She joined a Socialist-led cabinet 
when the left took power in legislative elections June I. 

The last two center-right governments had a policy re- 
quiring cabinet members to resign if they became the formal 
target of an investigating magistrate’s questions. The current 
prime minister. Lionel Jospin, has not announced a policy on 
this subject 

Under French law, being placed under investigation is 
roughly the equivalent of being charged, but it may not 
necessarily lead to a trial. ( Reuters ) 

Soros Foundation Quits Belarus 

MINSK, Belarus — The Soros Foundation said Wednesday 
that it was pulling out of Belarus because of harassment of its 
employees and other barriers to its activities in the former 
Soviet republic. 

“The Belarussian authorities have succeeded in shutting 
down the Soros Foundation in Belarus," it said in a statement 
issued in Minsk, the capital. 


CATANIA, Sicily — Two British rugby players have been 
accused of damaging the Elephant Fountain in Catania’s 
cathedral square, the most beloved monument in the Sicilian 
city. 

The legs of two figures were broken off Monday night in 
what Mayor Enzo Bianco called an “aci of barbarism." 

The police identified the players as Thomas Balls, 37, of 
Middlesbrough and Richard Ian Davison, 25, of Derby. The 
Italian press agency ANSA said the two had admitted that they 
sought to climb onto the elephant but had not intended to 
damage the fountain. The rwo were released pending further 
investigation. 

The two putti, or cherubic figures, are among four that form 
the base of the 1736 fountain by the architect Giovambattista 
Vaccarini. Above them is an elephant supporting an obelisk, 
similar to the monument in the Piazza Minerva in Rome, near 
the Pantheon. 

The incident came two weeks after a dragon's tail was 
broken off the Four Rivers Fountain in the Piazza Navona in 
Rome by an Italian diving off the Bernini sculpture. (AP) 


/. Crafted in black, silk-grain 
leather w ith gilt-metal corners, 
this handsome address book will 
go with you anywhere. 


3. Ring-binder pages are quick to 
add. update or rearrange. 


5. Laminated tabs let you torn 
right- to the names you need. 


2. Plenty of pockets ptmide easy 
storage for business and credit 
cords, stamps, notes, tickets, receipts 
and more. Lined in blue silk. 


4. Kui wifi have enough spacious 
pages to display over 500 names, 
addresses and phone numbers. 

Refill with standard loose-leaf sheets. 



9. Leather pencil holder and snap 
enclosure keep everything in place 
when you're on the move. 


6. A built-in note pad. complete with 
refill sheets, keeps jotting paper 
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PAGE 6 


INTERNATIONAL wraAT.n TRIBUNE, THURSDAY, SEPTEMBER 4, 


asia/pacific 


t 


pc** 1 






65 Die as Vietnam Jet 
Crashes in Phnom Penh 


A One-Year- Old Is the Only Survivor 


Cjmfdni try Ovr Staff Froei Dttpschn 

PHNOM PENH — A total of 65 
people, most of them foreigners, were 
killed Wednesday when a Vietnam Air- 
lines plane crashed while trying to land 
at the Phnom Penh airport, aviation of- 
ficials said. A Thai toddler was the only 
survivor. 

The Russian-built Tupolev- 134 
plane, arriving from Ho Chi Minb City, 
went down in a rice paddy about a 
kilometer south of the runway during a 
downpour, clipping palm trees and ex- 
ploding into flames on impact, some 
witnesses said. 

A witness at the scene said the aircraft 
appeared to have grazed the roof of 'a 
wooden thatch house, slammed through 
a stand of coconut trees and smashed 
into a nearby rice field. 

But a British businessman who was at 
the airport said there were heavy clouds 
and no rain when the plane crashed. 

“It was brooding, very dark, but it 
hadn’t started raining yet," Dan 
O’Donnell said He said heavy rain 
began shortly after the crash. 

“It was coming in. tried to land, 
bounced and nosedived." he said. 

Phai Bun, a one-year-old Thai boy. 
suffered a broken leg and was reported 
by doctors to be in simile condition. The ' 
child’s mother was killed His father 
was waiting for the flight at the airport 
when the plane crashed. 


Four people initially survived, but 
two men, one of whom was Japanese, 
died at a Phnom Penh hospital, doctors 
said. A South Korean boy. Oh Sung 
Hyuk, 4, succumbed to serious bums. 

The haul of Cambodia's civil avi- 
ation authority said the plane’s flight 
recorder had been found in the wreck- 


age. , 

Another aviation official said that the 
plane had been coming in to land but 
that the pilot apparently had decided to 
abort the landing and revved up his 
engines in a Jailed bid to get clear of the 
ground again. 

Thousands of Phnom Perth residents 
converged on the crash scene, and wit- 
nesses said there was some looting. 

Vietnam Airlines and an official at the 
Phnom Peab airport said the plane was 
carrying 60 passengers and a crew of 6. 
Cambodian officials said the bodies of 
the victims had been taken to a nearby 
military airfield for identification. 

A Foreign Ministry spokesman in 
Seoul said that as many as 21 South 
Koreans, including 6 members of a 
medical team, could have perished in 
die crash. Taiwan state television said at 
least 22 Taiwanese were believed to be 
among the passengers. 

Some Germans also were believed to 
be on board, said the Cambodian sec- 
retary of state for information, Khieu 
Kanharith. (AP, Reuters) 



Ramos Asks ‘the People’ ; , H ' 11 

To Join 2d-Term Debate j CT 


(h o 


Reuters 

MANILA — President Fidel Ramos 
dropped fresh hints Wednesday that he 
might try for a second term, saying that 
he would take the increasingly heated 
debate over constitutional change to the 
people. 

TTte constitution, rewritten 10 years 
ago after Ferdinand Marcos was ousted 
in a revolt, limits a president to one term 
of six years. 

Mr. Ramos said that critics planning 
mass protests later this month to oppose 
constitutional amendments did not ne- 
cessarily represent the people. 

“The people are more than just those 
who will participate in the Sept. 21 mass 
action,” hesaid. ‘ T represent the people 
as president when it comes to matters of 
this nature, especially the people that 
have no voice yet.” 

After repeatedly saying that he would 
step down when his term ends next June, 
Mr. Ramos appeared this week to be 
retreating despite increasingly fierce 


local officials and asked congressional 
leaders to consult the people down to W- 
grass roots on their views about pro* 
posals to change the constitution. •*; 

“That doesn’t sound like there is A- 
dictatorship in place, is there? he 


It’ 




quipped, referring to warnings by 
church officials that a second term fori ; 
Mr. Ramos could revive dictatorship. »*■ j 
Congressmen promptly suspended? 
debate on a resolution calling for con«-‘ 
sututional amendments to clear the way’ j 

for the nationwide consultations that* 

Mr. Ramos seeks. ' j 

An opposition leader, Daisy Fuentes*? | 

said the suspension was intended to\«>i 
defuse the protests, adding: “Thiff; j 
might be one step backward and two* 1 j 
steps forward." 

The acrimonious debate over a con- ; 
stitutiooaJ change coincided with tur-j 
moil in the country’s markets, with the j \ 

peso skidding Wednesday to new : 
depths of 31.83 to the dollar. ’ 

The stock marker, which slightly re- ■ 
covered Wednesday , has lost 26 percent j 

since the de facto devaluation of the | 
peso on July 11. 

Church leaders have vowed to mo- j 
bilize tens of thousands of people in j 
their p lann ed rally in Manila, while left- j . 

1st groups said they would hold na-j 
tionwide protests on the same day. ] 

“We need to gather the biggest t 
crowd possible so President Ramos j 
could hear very clearly the true sen-! 
timent of the public." said Corazoa-j 
Aquino, a former president and a leader ; 
of the rally ^epL 21. j . 


opposition from the country's influen- 
tial Roman Catholic Church and top 


opposition figures. 
Referring to the 


President Ramos inspecting ex-Moro rebels now in the Philippine Army! 


Referring to the moves to change the 
constitution, the president said Wednes- 
day: “Id light of the anxieties and re- 
criminations arising out of current 
moves, there is need for our people to be 
given the opportunity to pause, to be 
informed aim to reflect on the issue of 
charter changes, as well as on our eco- 
nomic condition, with greater sobriety 
and calm discernment.'’ 

He said be had ordered his cabinet and 


Ip 


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_ _ Rafnjjr Rdanai/Rooer, 

POLITICS — Bangladeshis marching Wednes- 
day to mark the founding of the Bangladeshi 
Nationalist Party, which is boycotting Parliament. 



frewir Re t -. f 

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Pedicab Drivers Riot in China 


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BEUING — Chinese pedicab drivers protesting gov- 
ernment controls on their work fought with anti-riot 

SdWataes^iy 11 1 ° disperSC them * a human rights group 

Workers and police officers were injured in the clash 
I uesday in southwestern Duiianpvan cihi a. 


jfr : I 

: } IniM-I,. 

! | -rM^rr — 

■_J j liMii.. 

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T, _ j . V ~ . . HI ( 1 1 C CUU>Q 

Tuesday id southwestern Dujiangyan city and deanon- 
strauons against the local government were planned again 
for Wednesday, *e New York- based organization Hu- 
man Rights m China said. (AP) 


1 1 OHI.W f)t lL 


Suiuiess Czz:- • • r 


Taiwan Open to China Talks 


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TAIPEI — Taiwan said Wednesday that it was Dre 
pa^g to conduct political dialogue with ChfoaTeSly 

It also said (hat as long as Beijing was sinom in 

SSS 

( Reuters } 


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and Pakistan, but intended to jLy ^ 

long neglected South Asia. W greater a^ention to a 
Karl Inderfurth. assistant secrenru _ 

Asian affairs, said the United Static - State ^ 0r ^ out ^ 
about peace in Asia! 

between the^’wo^eigE" wht h ™*", d 10 , media K 
powers. ,cn nuclear threshold 

(Reuters) 




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INTERNATIONAL HERALD TRIBUNE. THtlBSP AVi SEPTEMBER *, 1997 

Dea th of g Princess/ Nou\ the Question of the Monarchy’s Future 

> Winds of Change Shake House of Windsor 

centered on the needs of the sons: Prince 

Ru Wqpran 11 ... bv rtllhl i r micniuinnc hie ivnnlpnriinhisdUtV. StlC SUQ UliU, 1 C ihi> aftw fTiarW unrl 


PAGE 7 


By Warren Hoge 

Nm York Times Service 


_ ..f ivrx times service „ . . — 

IOKitv-iw ZZ — forgiving embrace of her memory 

• wiNUUN — The death of Diana, have- raised the argument to a new level 
rnneess- of Wales, has focused public of clarity and force, 
attention on her criticisms of the royal “Diana the dead may threaten their 
januly and confronted the 160-year-old stability and tranquillity as strongly if 
Mouse of Windsor with a national clam- not more so than the divorced Diana 
Or for change. they could not silence.” said Polly 

■ Calls upon Queen Elizabeth II and Toynbee, a columnist for The Inde- 
Pnnce Charles to rebuild the mon- pendent. “Diana the difficult was a 
^hy's lapsed prestige by following her problem the palace could tackle; but 
example of openness and accessibility Saint Diana is something it can never 
are growing as rapidly as the mountain contend with.” 
of flowers and the line of mourners Julie Burchill, a columnist for The 
outside the chapel where her body lies. Guardian, said that Diana "took to royal 
In life, Diana drew a distinction be- life like a champion and for one brief 
, tween her idea of royalty that reaches shining moment made sense of it all 
| out to the public and the royal family's while her husband with every flinch and 
' more distant and reserved relationship faux pas made it painfully obvious that 
with its subjects, but the message was he found it increasingly difficult to love 

Diana’s ‘Last Photograph’ 
Published by Some Papers 


centered on the needs of the sons: Prince 

compromised by public misgivings his people or do his duty. She saiatnai, .... 15 , the heir after Charles, and 

over some of her behav.or. Death and by contrast, the House of Windsor had ^ 

the forgiving embrace of her memory become “a dumb, numb dinosaur, liun- have been open pleas that 

have raised the argument to a new level bering along in a world or its 0 n, ^ gxgy&g them from any royal 
of clarity and force. gorged sick on arrogance and ignor- , . are older and criticism 


The Associated Press A caption under the photo reads: 

., BONN — Several European news- "No, the Express would never prim a 
- papers, including the German tabloid photo that shows a dead Diana and her 
-Express, published what they said companions. Yes, the Express is print- 
was the last photograph of Diana, ing this last photo of Diana alive. 




- papain, uiuiuuuig uiu vimuuui mwiviv* ^ — — 

-Express, published what they said companions. Yes, the Express is pruit- 
was the last photograph of Diana, ing this last photo of Diana alive. 

1 Princess of Wales, alive, taken as she What appears to be the same pbo- 
walked to a Mercedes car on the night tograph with a wider angle, showing a 
of her fatal crash. ' third man facing the camera also wait- 

• The Express photograph shows the ing at the car Diana is striding to, was 
, princess, wearing a blue blazer and printed by the Munich-based 

white trousers, accompanied by two Abendzeitung. 
unidentified men. Another car with The Abendzeitung caption reads. 
■'Paris license plates can be seen in the “It is Saturday evening. Princess Di- 
-rbackground. ana leaves die city residence of her 

* One of the two men seen in the friend DodL She drives with the Mer- 

7 photograph appears to be waiting by cedes to the Hotel Ritz to dinner. A tew 
■ the door of the Mercedes. hours later, ehe was in an accident. 


L - 

Crash Survivor Reportedly Lost 
Lips and Tongue in Accident 

* TL- A Dmh r»*cc rtf Wales, to her death cannot talk, a 


by contrast, the House or w inasor ‘“ u Hamy, 12. 

become “a dumb, numb dinosaur, lum There have been open pleas that 

bering along in a world or its o n, . excuse them from any royal 
gorged sick on arrogance and ignor- mitfl they are older and criticism 

ance.“ that they were obliged to appear in pub- 

Just last month, a poll showed SU PP*^ church service in Balmoral just 

for the monarchy at only 48 percent, m a f Kr learning of the death of their 

firs, time a survey ha de ve t record** a S^leponers 8 covering the royal 
number lower than 50 percent. The tig .. ^ Balmoral, its Scottish holiday 

we was70percent jusuhree yeare earh- tamuy ^ ^ op . 

er, even after the public relations di - t taking them but that he was 

asters of 1992, the year 1 femoi* \y caUed mother, the queen, 

the annus horribUis by Queen ^1^*^- Charles, the two boys have tra- 
in that year three of ^^aUy been involved in a life of 

arated or divorced, WlT ?^f°Lf~ s tweeds and blazers and shooting outings 
burned and she had to pay income taxes twow Wifll they 

for the fust time. anneared in baseball caps and jeans. 

Significantly, in the Aug. 12po, J^j^amusement parks and beaches, 
those most disapproving of the Wind needy, accompanying her 

sors were younger people, to hospitals, AIDS clinics and 

British population that *^***^“5 d ° f cente is for the homeless. There is anxi- 

vdo^d asffongpersonal identification 

^fSfimpl j^^^rccnt ^^^sphere also 

counfry ^° me ^|?®PuWic, ^re islhUe 

organized republican sentiment here, uianes PamiHa Parker 

and there is no f en * t °*^™ untiy ' S 3 "^^ aiSibr foe notion that they 
politics moving tn that direction. jjowies. 

The government of Pnme Mimster SO ns and 

Tony Blair has made a priority of con- She “ . * e ir upbringing 

and a move toward more proportional science vn± st^lSn^ 

votin'* procedures. But this often-men- who blamed her tor parang luai 
tioned campaign to ''modernize'' Bn- nages p ' f . -xhe Queen: 
tain has not questioned the validity of Ben Pure tt, h n 

Britain's constitutional monarchy. die relation^ 

What the poll reflected was wide- Diana s death nas gi 

spread unhappiness with the current ship of Royalty 

family's stewardship rather than with Bob Houston, ed dor ^ or Koymg. 

the institution. Diana herself, even in magmne, • nS^fCharics marrying 
her most confessional moments, chal- solutely no chan “ffeTwcwld 

lenged the style, not the existence, of the “.new. £ 

ITlt InT television interview in 1995 in the world to consider it. . 
which she discussed her adultery and ^ 



io STa * ZS as 'a ^en^yon the role of «he media. 

Remark byCadhafi Infuriates Britain 

\ msjnnN The Foreign Office plans 10 file a formal protest to Libya over 

I=0 (>nisAoruJay i CoIonelGarihafi said wanKtM^maffy * an 

intelligence services. 


3Sg gsss **&**&*"-+*• 


UUillllMUlVUJ — - i _ 

band's fitness to be king, she said: 1 
would like a monarchy that has more 
contact with its people — and I don t 
mean riding around on bicycles and 
things like that, but just having a more 




who was until last year m charge or 
caring for the boys, in a cottage at 
Balmoral. She has been credited wim 
having provided a kind of warm, tactile 

° cess of Wtdes, to her death cannot talk, a jbiw to 

1 PARIS — His moudt was so mangled Paris new^per reared Wednesday d foreign sec- iSSttn and disantfadtet.has never been 

SSssmS 

‘ massive facial injuries. cause He said her chOTpiotungm ^ ^n.dimngWorldWarl.TheWind- 

The daily Le Figaro reported that the unpopular . j b j e sor years are considered to have beg 1111 

force of the ctnsh suited _his jaw ^^n’K'eh^P in. $7 Wd-aa-gf of Queen 







1 : 



St:: 

:%:^V 


monachy’s reach into less noble puts “ r 1 ^ w ^“„^' 0 Tof Q«en 

ripping away his lips, tongue and other of the realm th^t “She needed Victoria, who was manied to Prince 

Sflt wSuncl^ whether surgeons f ra Bnmn Andhe added. Shen^ed Saxe-Coburg.^eTud^s the 

Stable to reattach the tongue. to be roya^ to succeed. Kepuoi ^ dynasty of con^arable 

The bodyguard also suffered senous shmf d b|i , Q n longevity lasted 126 years and the Han- 

^yWsLnediare dachas overians. >23. 

Mot her Gives Thanks for ‘Gift of Diana 

J: fr h c R ^“ K ns,,,« F,aK'-rr'», “I give her b ack 

^^oSr&^dg ^.«-^S°”a^d in a 

mm 

WMm fsiss liB-SS 

Army b 1992. neraS - 



Jcrany Bynn/Raarr» 

Trevor Rees-Jones was sitring^m 
the front passenger seat of the car. 


vow YORK — Sotheby's announced Tuesday that it was postponing its 
atStf d.^ «fl00 objecB belonging to dte duke and duchess of 
Windsor from the couple^faM^Pmshome ^ 

“ rr4'fs^te n dS ^“r^ord w,A wtsh^of 
M^StdByed. owner of the Windsors' vrlla and tts contents. INYT) 

U.S. Stores Pull Tabloids From Shelves 

^ b ff of S^9. pnnffid before the car 

crash that^ed foe princes. say^"KGo^Sot Mad. Qb loid, the 

shows them on a “loveboat cruise. 


Diana’s Gowns Expected to Soar in Value 

T ns ANGELES — Less than three months after gowns worn by DjauajoW 
formwe than $3 million at acharity auction, fashion experts say 

^?Sdd 2E' SSw/’ said Louise Coffey-Webb, a costume 
lli ^r^e's aurto^!79 af^tM’sgwvns^andcod^^resswhi New York 

Travolta at a White House dinner went for $-2000. 


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PACE 8 


THURSDAY, SEPTEMBER 4, 1997 ' 


EDITORIALS/OPINION 


Itmlb 


INTERNATIONAL 



tribune 


M BUSH ED wnm THE NEW YORK TIMMS AMD TUB WASHINGTON POST 


For Talks in Algeria 


Recent days have bees the most 
violent in Algeria’s nearly six-year 
civil war. The government reports that 
nearly 400 civilians were massacred 
in a week by the Armed Islamic Group. 
The rest of the world has gone along 
with the government’s insistence that 
the violence is the business of Al- 
gerians only. . . 

But Algeria’s president, .Lianune 
Zeroual, has refused to negotiate with 
even moderate Islamists. It is tune for 
other nations, especially France, to use 
their influence to press for talks. 

Algeria descended into brutality 
after die army canceled parliamentary 
elections in 1992 to prevent a victory 

by an Islamic coalition. One wing 

broke off to form the Armed Islamic 
Group, and at least 60,000 people 
have been killed since. 

Government officials blame the 
group for the massacres, but they have 
not allowed journalists to investigate 
the killings independently. 

Many 3X6 certainly the work of that 
terrorist movement, but some may in- 
volve government soldiers, and some, 
result from reprisals between Islamists 
and members of government-backed 
local civilian militias. 

Most of the violence has taken place 
in the outer suburbs of Algiers, the 
capital, a region full of military bar- 
racks. It takes tune to hack dozens of 
people to death, yet soldiers have not 
intervened to stop the killings. Many in 
Algeria feel that the military has let the 


killings proceed for propaganda pur- 
poses or to justify its role and budget. 

Mr. Zeroual maintains that building 
Algerian democracy will eventually 
end the war by drawing Algerians into 
a wor king political process. Hie con- 
stitutional referendum and presidential 
and legislative elections held in the last 
three years, however, have been rigged 
toward the government and have not 
helped to reduce the violence. 

While calling for a dialogue among 
Algerians, France has not used its con- 
siderable influence on Mr. Zeroual *s 
government to push him to talk. France 

provides about $1 billion in aid each 
year and is Algeria’s primary source of 
imports. Just as important, the fran- 
cophone government in Algiers looks 
to France for moral supporL 

During this year's election cam- 
paign in France, members of Lionel 
Jospin's Socialist Party advocated ne- 
gotiations and cooler relations be- 
tween Paris and Algiers. But since 
taking office. Prime Minister Jospin 
has n oved his government closer to 
Algiers. He sent his foreign minister 
there to attend a meeting of regional 
foreign ministers, and restored landing 
rights to Air Alg6rie in Paris. 

Other nations and institutions fol- 
low France's lead. The European Un- 
ion is negotiating an association agree- 
ment with Algeria, and should 
condition Algeria’s involvement on 
talks to end the war. 

— THE NEW YORK TIMES. 


Help Mozambique 


It is not surprising that the trouble 
spots of the world tend to command 
most of our attention. Wars and dis- 
asters offer the most drama, and 
wounded countries such as Bosnia 
and Cambodia soak up a huge share 
of America's treasure and military de- 
ployments. 

For just that reason, though, it makes 
sense to pay attention also to countries 
emerging from such bells — where a 
more modest investment now could 
avert more trouble in the fa tune. One 
such country is Mozambique. 

Even during Mozambique's 16-year 
civil war, the southern African nation 
of 18 million people was not exactly 
dinner-table conversation for most 
Americans. But its Cold War proxy 
struggle made it the focus of attention 
of South Africa, the Soviet Union and 
other powers. 

Now that Mozambique has made 
peace, it needs help of a different 

The formerly Marxist leaders of 
Mozambique have become converts to 
free market economics. They are 
privatizing most state-run industries 
and devoting larger shares of their 
small budget to schools. A democratic 
government is running pretty smoothly. ‘ 
Mozambique could provide a model for 
many troubled African nations. 


But the country remains desperately 
poor, weighed down by the devastation 
of civil war and — here is the key — 
heavily indebted to richer nations. 

Like many poor countries, Mozam- 
bique finds itself on a merry-go-round 
where as much as it earns from exports 
it must pay to the developed world just 
to service old debt No matter bow 
sensible its reform policies, the debt 
burden will block progress. 

The nintnn adminis tration and the 
World Bank, under James Wolfen- 
sohn's leadership, are pushing apian to 
forgive much of the debt for countries 
thus oppressed that otherwise are fol- 
lowing sensible economic policies. 
Uganda was the first to qualify for 
help. Shortly, Mozambique will be 
considered. 

The World Bank and the Inter- 
national Monetary Fund should be 
generous — more generous even than 
their staffs have suggested in prelim- 
inary papers. 

As Oxfam International has pointed 
out, wealthy nations spent $1J billion 
on refugee relief for Rwanda in 1994 
alone. Debt relief that allows Mozam- 
bique to avoid that kind of collapse, to 
spend more on schools and develop- 
ment and to consolidate its peace, would 
be more efficient in the long run. 

—THE WASHINGTON POST. 


Unwanted Bombers 


One big issue facing a returning 
Congress this week is whether to give 
the U.S. Air Force nine extra B-2 
bombers. The air force doesn't want 
them, and the Senate doesn’t want to 
pay for them, but the House has voted 
a $331 million down payment 
So members of Congress, who will 
have to resolve the dispute in con- 
ference, might want to catch up on a 
bit of news that emerged while they 
were out of town: You can’t take a B-2 
out in the rain. 

The B-2 is the official name of the 
oddly shaped “Stealth” bomber, 
which was developed — beginning in 
1981 — to penetrate Soviet defenses 
in the event of a nuclear war. 

The first B-2, albeit in what the air 
force calls an “interim configura- 
tion.’ ’ was declared ready for duty last 
spring. The total cost of tire program is 
now estimated at about $45 billion — 
for a total of 21 bombers. 

At more than $2 billion per plane, 
you would think the air force might 
have received an all-weather aircraft. 
But the General Accounting Office last 
month reported — and the air force 
confirmed — that plans to deploy the 
planes overseas have had to be 
scrapped because the B-2's stealthy 
materials “are nor as durable as ex- 
pected and require lengthy mainten- 
ance, some in an environmentally con- 
trolled shelter after each flight' ’ 

In addition, the B-2s have to be kept 
parked in temperature- and humidity- 


controlled hangars “because of their 
sensitivity to moisture, water and other 
severe climatic conditions." 

To put it another way, the B-2 must 
be “sheltered or exposed only to the 
most benign environments (low hu- 
midity, no precipitation, moderate 
temperatures)." 

Tne General Accounting Office fur- 
ther noted that the planes have been 
fully mission-capable only 26 percent 
of the time, and that so far they have 
needed 124 man-hours of maintenance 
for every hour of flight. 

The Defense Department’s re- 
sponse? “The B-2 can be deployed, 
but at foe present time it would be 
difficult to operate the B-2 from a 
deployed location." 

Even before this latest grotesque 
news, the case against additional, un- 
wanted B-2s was powerful. As the 
world has changed, so have air force 
needs; the generals say that 21 copies 
of foe $2 bdlion plane is enough. 

They would rather spend money on 
pressing requirements — for a new- 
generation fighter aircraft, say, and for 
funds to boost morale and help retain 
pilots in foe service. 

Some House members — partic- 
ularly those with B-2 subcontracts in 
their districts — want to buy the ad- 
ditional nine planes anyway, at an 
eventual total cost of $20 billion in 
procurement and maintenance. It is 
hard to think of a worse idea. 

— THE WASHINGTON POST. 




Things the Japanese Visitor Could Tell China 

O ... _ .minese made statement of jeep™** 


T AIPEI — Will the visit to China by 
Japan's Prime Minister Ryu taro 
Hashimoto that starts this Thursday be 
congenial or acrimonious? Probably a 
bit of both, perhaps with President Ji- 
ang Zemin and Prime Minister Li Peng 
playing good cop and bad cop. 

Mr. Li has certainly been practicing 
his part He recently completed a swing 
through Southeast Asia on which he 
branded attempts to “expand the 
scope" of the U.S.-Japan alUiince to 
include Taiwan as “utterly unaccept- 
able'* interference in China’s internal 
affairs. Were this to happen, he warned, 
Chinese- Japanese relations would be 
“fundamentally shaken,” 

But Mr. Jiang and Chinese diplo- 
mats have been pointing to Mr. Ha- 
shimoto's visit — intended to celebrate 
the 25 th anniversary of normalization 
of diplomatic relations — as an op- 
portunity to build a closer relationship 
between Asia’s two major powers. 

It also provides a good opportunity 
for Mr. Bang to polish his diplomatic 
credentials before bis October visit to 
Washington, especially since the scope 
ofthe U.S.-Japan alliance is certain to be 

high on China’s agenda for the summit 
meeting with President Bill Clinton. 

Mr. Jiang is eager to see China's 
rapid economic growth and modern- 
ization continue. He recognizes how 
important continued Japanese aid and 
investment are to those goals. He thus 
has reason to want a smooth visit. 


By Ralph A. Cossa jg 

But Mr. Hashimoto’s visit comes im- 
mediately before foe 15fo congress of 
the Chinese Communist Party, sched- 
uled to open on Sept 11 Mr. Jiang 
hopes that the meeting will formally 
usher in China's “Jiang Zemin era.” 

Given nationalistic anti- Japanese sen- 
timent, it may prove more difficult for 
Mr. Jiang to appear “soft" on Japan. 

Even if he is on his best diplomatic 
behavior, Mr. Hashimoto should an- 
ticipate some tough questioning about 
the direction foe U.S.-Japan allian ce is 
taking. His best approach would be to 
answer firmly and directly, making the 
following key points. 

• The ongoing review by the United 
States and Japan of their defense co- 
operation guidelines is aimed at. more 
clearly identifying the type of logistical 
support that Japan would be willing to 
give its U.S. ally in any crises that 
affect vital Japanese security interests. 

A revitalized or redefined alliance does 
not guarantee that Japan will respond in 
the event of any specific contingency 
over Korea, Taiwan or elsewhere. As in 
the past, Tokyo’s reaction in a crisis 
will depend on the situation at the time 
and remain strictly within the limi ts of 
Japan's current constitution. 

• China’s demand that Japan state 
unequivocally that the guidelines do not 
apply to Taiwan is misguided and in- 


appropriate. It amounts to a Chinese 
request for a Japanese (and American) 
green light to any military operations 
against Taiwan that Beijing might con- 
duct. This is politically impossible ana 
strategically unwise. Just recall the con- 
seqiulas m 1950 when the United 

States appeared to be giving assurances 
to China and others that Son* Korea fell 
outside its area of security concern. 

• Mr. Hashimo to should assure Mr. 
Jiang that Japan still subscribes to a 
“one China” policy as outlined in the 
1972 China-Japan Joint Communique, 
and dial Tokyo endorses Beijing’s wish 
that differences between China ana 
Taiwan be settled peacefully. In the 
unlikely event that hostilities erupt m 
the Taiwan Strait, it will be for Japan to 
decide how it responds, based on its own 
national security interests. For others to 
dictate Tokyo’s response in advance be 
utterly unacceptable interference. 

Clearly, Mr. Hashimoto will not go 
to China looking for a fight He at- 
taches just as hig h a value to improved 
relations as does Mr. Jiang. An easing 
of tensions is long overdue. 

In one significant respect foe ball is 
in Japan's court Mr. Jiang is no doubt 
looking for an unequivocal apology for 
Japan’s World War II atrocities. 

The Japanese have been more forth- 
coming on this issue in recent years. 
The emperor made an unprecedented 
statement of regret during a 1992 visit 
to China. Japanese prime ministers 


mi ap ^n” to 1993^nd 1995, «- 

“at such apologies have 

^’SrS^'Uuivocal 

Hashimoto to finally 
apology frorn_w_ behavior in 

corned elsewhere in Em Asm. 

While it is important tutu ns gi 
somesortof sincere apology for *e 
past, he has no reason *jr 

t£; ^present or future direction of Ja- 

pa Hc Chinese ih% 

military force complete with bombj^ 

intercontinental nmsttes and nud tear 

weapons as does China (which nas all 
those things and more)- Instead, Japan 
has chosen to use its cons “ u “ 0 ? 
limit its military power and actions 
while maintaining a purely defensive 

alliance with the United States. 

Mr Hashimoto should remind China 

that the aim of the alliance is to promote 

regional peace and stability - goals 
which Beijing professes to share. 

The writer is executive director of 
the Pacific Forum CSIS. a Honolulu- 
based foreign policy research institute. 
He contributed this comment to the 
International Herald Tribune. 


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Coming Soon, a Noisy Melee Between Trade and U.S. Labor 


✓"N AMBRIDGE, Massachu- 
setts — A large labor battle 
begins in just a few weeks when 
the Clinton administration in- 
troduces a “fast-track” bill to 
make it easier for the president 
to negotiate bade deals. 

The White House needs such 
legislation in orderio extend the 
North American Free Trade 
Agreement to Chile and the rest 
of Latin America, and to expand 
trade with Southeast Asia. Or- 
ganized labor and (if you be- 
lieve opinion polls) a large per- 
centage of Americans on the 
bottom half of the income lad- 
der don’t want more trade with 
developing nations. 

The cmx of the problem is that 
more bade is good for the Amer- 
ican economy overall but not 
necessarily fra* all Americans. 

Trade has not been foe main 
cause of the widening gap be- 
tween rich and poor in the last 
decade and a half but it has 
played a role, accounting for 
perhaps a quarter to a fifth of the . 
nearly 20 percent increase in 
wage disparities between 
skilled and unskilled worker. 
Trade on a far greater scale with 
poorer countries presumably 
would widen foe gap fiirther. 

The only way to prevent the 
downward competitive pres- 
sure, say some opponents of fast 
track, is to condition such trade 
on a developing nation’s will- 
ingness to raise its wages and 
working conditions to a level 
approximately as high as Amer- 
ica's minimum standards. But 
any such requirement would be 
protectionism in another guise. 

Most Latin and Southeast 
Asian nations cannot afford to 
meet American labor standards. 
Their economies are not rich or 
productive enough. If global 
companies had to meet min- 
imum U.S. standards in Latin 
America or Southeast Asia, 
they simply would not build 
factories there. 

What level of wages and 


By Robert B. Reich 


working conditions should we 
Americans expect developing 
nations to achieve? Is it any 
business of ours to begin with? 
These are moral as well as eco- 
nomic questions. 

It is nnrealistic to expect that 
workers in poorer nations will 
receive American-style wages 
and working standards. But we 
can and should insist that as 
these nations become steadily 
wealthier, their bottom-rung 
workers do better. The benefits 
of trade and growth should be 
widely shared. 

U.S. national interest does not 
lie in protecting American jobs 
from cneaper goods produced by 
lower-wageworkers abroad. But 
America has a legitimate interest 
in spurring tire creation of broad 
middle classes in those nations 
— large enough to buy our ex- 
port goods, strong enough to sta- 
bilize- democratic institutions, 
and confident enough, to affirm 
our values about bow. human be- 


ings should be treated at work. 

To foe extent that foe benefits 
of economic growth in those 
countries are concentrated in 
narrow economic elites, while 
the ranks of the poor stay the 
same or even increase, those 
aims are thwarted. 

In many developing nations, 
the record to date has not been 
encouraging. The widespread 
adoption of market reforms, in- 
cluding deregulation and more 
open trade, has boosted growth 
rates. Latin America as a whole 
is now growing at a rate of 
above 3 percent a year, up from 
1.5 percent in 1988. In South- 
east Asia, growth has soared in 
the past decade. But too often 
the gaps between rich and poor 
have widened, and middle 
classes have shrunk. 

The UN Conference on Trade 
and Development reported last 
month that in almost all devel- 
oping nations that have rapidly 
- liberalized trade, inequality has 


by global lending institutions: J 
Until recently, the Interna- j. 
tional Monetary Fund focused % 
almost exclusively on getting J 
developing nations to deregu- j 
late and open their markets. But | 
several weeks ago the fund ex- j 
tended a line of credit to Ar- • 
gentina on foe condition that it * 
give priority in public spending * 
to improving health and edu- • 
cation and reducing poverty. I 

IMF officials are now saying • 

v should become font long-term growth depends > 

stricter, and the minimum age on more than open markets; it | 
for child labor should rise. requires political stability and « 
These nations should estab- broad middle-class prosperity. . 

American manufacturers in \ 
developing nations should be • 
guided by the same principle. I 
Clothing and sneaker man- ; 
ufacturers with factories in Lai- I 
in America and Southeast Asia ; 
face growing criticism for run- ; 
ning “sweatshops.” They claim \ 
foal they are just paying the go- ; 
ing wages, even at pennies air- 
hour, and doing what every oth- 


increased as the wages of un- 
skilled workers have dropped 
— by 20 to 30 percent in some 
Latin countries. 

Fast-track legislation should 
commit the United States to ne- 
gotiate trade accords requiring 
developing nations to spread 
the benefits of growth. At the 
very least, we should insist that 
as their economies grow, their 
minimum wages should rise in 
tandem, workplace health and 
safety standards 


lish credible means of inde- 
pendently monitoring and en- 
forcing these rising standards, 
and their workers should be 
able to organize unions so that 
they have the bar gaining lever- 
age they need to press for con- 
tinuing gains. 

Such a principle of steadily 
increasing wages and working 
standards in proportion to a na- 


tion's capacity to afford them is er employer does there, likeem-v- 
consistenr with new initiatives * ploying, young teenagers dor*’ 

long stretches at a time. ~ 
“The ' minimum standards 


The Outlook for Workers Isn’t Sunny governments 111 invofved,’ ’ says-* 

v v Andrew Vnnno the- firwmer' 


M OST people assume that 
foe jobs of the future will 
be related to the technologies of 
the future. They imagine that 
we will become a society of 
telecommuting nerds. 

Historically, however, the 
opposite has happened: job 
growth tends to be greatest in 
the occupations that new tech- 
nology affects the 'least. We 
have become supremely effi- 
cient at growing food; that is 
why there are so few farmers. 

In the Labor Department's 
list of “occupations with the 
largest job growth,” the top five 
categories are cashiers, janitors 
and cleaners, salespeople, 
waiters and waitresses, and 
nurses. All of these jobs involve 
“being there” — having face- 


to-face contact with the con- 
sumer. or dealing in a hands-on 
way with the unpredictable 
messiness of foe physical 
world. To pur it a bit differently: 
the typical worker of foe 21st 
century will be doing precisely 
foe kinds of thing that you can ’t 
do over the Internet. 

— Paul Krugman. 
in The New York Times. 

T HE era of lifelong company 
jobs with regular promo- 
tions and annual real wage in- 
creases is over. It is your re- 
sponsibility to manage your 
own Lifetime career. But you 
won’t have a lifetime career. 

No one can manage his or her 
own career without a road map, 
and economic road maps cannot 


Can Clinton Keep On Dodging? 


W ASHINGTON — As 
Washington lumbers 
back to life after the August 
holiday, proper folks know 
they are supposed to be think- 
ing serious thoughts about 
things like fast-track trade au- 
thority, campaign finance re- 
form. Bosnia, foe Middle East 
and China. 

But in truth, most of foe 
conversation is about a ver- 
sion of the children's game 
dodge ball: Can Bill Clinton 
continue to duck and sidestep 
all foe missiles aimed at him? 

That question fascinates foe 
capita! much more than any of 
the putatively important is- 
sues on foe agenda. 

Even during his vacation, 
some of foe rockets came 
closer to finding their target. 
Paula Corbin Jones now has a 
court date for her lawsuit al- 
leging that be sexually har- 
assed her when he was gov- 
ernor of Arkansas and she was 
a state employee. 

The trial is not until next 
May, but pretrial interviews of 
potential witnesses will take 
place between now and Janu- 
ary. And Ms. Jones's attor- 
neys have made clear that they 
will seek testimony from other 
women they say may also 
have experienced crude ad- 
vances from Mr. Clinton. 

Unless this is settled out of 
coun (and Mr. Clinton’s law- 
yer vows that foe president 
will never apologize for 
something he insists did not 
occur), it has the potential to 


By David S. Broder 


be one of foe mosi degrading 
spectacles ever to engulf foe 
occupant of foe Oval Office. 

More serious in policy terms 
are continued revelations about 
shady financing of Mr. Clin- 
ton’s re-election campaign. 
The latest twist involves an al- 
leged scheme to use the Team- 
sters Union as a vehicle for 
moving money into the 1996 
Democratic campaign, whj le at 
foe same time tunneling out- 
side dollars into Teamster 
President Ron Carey’s fight for 
re-election to his union post 
Everyone involved is protest- 
ing innocence or ignorance, but 
prosecutors are on the case. 

Meantime. Johnny Chung, 
one of the busiest bees in foe 
Clinton money hive, has given 
the Los Angeles Times and 
NBC News a vivid description 
of a system which he under- 
stood to be a straight-out pur- 
chase of access to the White 
House and cabinet depart- 
ments. One S 50.000 gift led to 
a meeting with foe first lady, 
he said. She says she has no 
recollection of foe occasion. 

The “no recollection” re- 
sponse has become routine for 
both Clintons since the pres- 
ident declared his mind blank 
on whether, as notes indicat- 
ed, he joined Vice President 
A1 Gore in personally soli- 
citing campaign contributions 
from the White House. 

When foe Senate resumes 


its hearings this month and the 
House later begins its own, all 
these matters will be recited in 
public once again. Mean- 
while, the Federal Election 
Commission, the Justice De- 
partment and Kenneth Starr's 
team continue to investigate. 

Given ail the folks who 
have Mr. Clinton as their tar- 
get. it is understandable that 
Washington is wondering 
whether he is nimble enough 
to dodge the incoming fire. 
Those who recall how he 
overcame the charges of draft- 
dodging and womanizing dur- 
ing his first campaign are con- 
fident foal he can continue the 
fancy footwork that got him to 
foe White House. But this 
time, more than Mr. Clinton’s 
personal fate is involved. 

He will not be a candidate, 
but he may hold foe key to foe 
next two elections. With his 
currenr high approval rating, 
the health of the economy and 
foe disarray among congres- 
sional Republicans, it is en- 
tirely possible that he could 
help restore foe House to 
Democratic control in 1998. 
History- suggests otherwise, but 
a shift of only 1 1 seats would 
end Newt Gingrich’s run as 
speaker. Smart Republicans 
know that it could happen. 

But a scandal-stained pres- 
ident would be a burden to his 
party. And any damage to Mr. 
Clinton almost automatically 
rubs off on Mr. Gore, his 
anointed successor for 2000. 

The Wtishtoiuon Pom 


be drawn unless there are career 
ladders across companies. And 
they simply don’t exist 
In Europe, foe Middle Ages 
saw vast numbers of masterless 
laborers wandering back and 
forth across foe countryside. 
Walled cities and towns were 
foe answer. The Japanese talk 
about the chaos of having 
samurai without masters. Our 
future is foe masterless Amer- 
ican laborer, wandering from 
employer to employer, unable 
to build a career. 

— Lester C. Thurow. in The 
New York Times. 

W ITH changes in techno- 
logy and the globalization 
of the economy, knowledge- 
based industries will soon dwarf 
all other industries in the econ- 
omies of Western nations. While 
many better-educated workers 
will benefit from these changes, 
the demand for low-skilled 
workers will plummet to foe 
lowest depths in human history. 

In the America, this pattern 
will be reflected in extreme and 
growing waste differentials be- 
tween foe 1 1 ■ wiomic haves and 
have-nots. 

Increased trade with devel- 
oping countries will aggravate 
the economic woes of low- 
skilled workers. A good deal of 
domestic production will be dis- 
placed by imported products. 

— William Julius Wilson, 
in The New York Times. 


Andrew Young, foe former’ 
United Nations ambassador" • 
who was recently hired by Nike. V, 
to inspect and report on its over-t ; 
seas plants. 

We cannot expect American ‘ 
companies to give their Third" 
World employees U.S. levels of 
wages and working conditions, V; 
but we should expect something.' ; 
more from them than merely ’* 
following accepted practices of * 
meeting minimum legal re-"* 
quirements in those nations. 

American companies should. =■ 
exert leadership by being"/ 
among foe first to raise their / 
workers’ pay and to improve’ , 
working conditions in line with/ ’ 
productivity gains. Third-party' " 
monitors should assure Amer- • 
ican consumers that our com pa- _ “ 
nies are setting foe rising trend. ^ 

Ultimately, if America is w " 
make a convincing case for shar-* 
ing the fruits of growing prosper-' ~ 
ity within developing nations, it; r 
must dedicate itself to the same r * 
principle at home. The most ad- “ * 
yanced nation is now enjoying” ’* 
its most buoyant economy in de- 
cades. but median incomes are' ■■ 
scarcely rising, and a large frac-; " 
tion of foe American work force' • i 
has been losing ground. > 

The writer, a former secre-"-' 
tary of labor, teaches social and ’. "■ 
economic policy at Brandcis - 
University. His most recent 
hook is ’’ Locked in the Cab- ■ : 
inct." He contributed this com- * '* 
mem to The New York Times. 


IN OUR PAGES: 100. 75 AND 50 YEARS ACO 

1897: Arctic Explorer 

LONDON — Mr. Frederick G. 

Jackson, the leader of foe Jack- 
son-Harmsworth expedition, 
who left on July U, 1894, for 
foe North Polar regions, arrived 
on board foe steam yacht Wind- 
ward, he having, with his com- 
panions, spent three winters in 
foe Arctic circle. In foe course 
of his journey, Mr. Jackson 
solved a most interesting geo- 
graphical problem. He not only 
determined foe northern coasts 
of Franz Josef Land, but he has 
also been able to decide that foe 
much-discussed Gillies Land 
has ceased to exist. 

1922: Russian Nobility 

LONDON— Princess Nina Ro- 
manoff was married to Prince 
Paul Chavchavadze at fo c R us . 
sian Church. Princess Nina is a 

K j n e» nd Owen of 

England. Her husband, although 
a Russian prince, “has a job” 


with a firm of Wimbledon build- ’ - 
mg contractor, and the couple 
in a small house inSt 
John s Wood — the Harlem of; ' 

London. The wedding offered a " 

striking impression of what has' 
happened to the aristocracy of " A 

Russia Women almost shabbily 'M 
dressed wore gorgeous old jew- ■ ' 

els, while others wore gorgeous ' 
gowns for which they had sac- 1 

nficed ihefr jewels. J 530 . 

1947: Reviving Trade 

SOUTHPORT — Foreign Sec- * 1 ' 
retefy Ernest Bevin called for " 
elimination of all trade restric- * J 
ti^inE^acustcm^S^^ 
B F tu * 1 Commonwealth- ’’ 
and Empire and redistribution 

^ Ul ?! I ted States Sold reserve 
for world rehabilitation In a 
major address to foeTev^ty . 

" produc tioif orsmrvation. l - 1P * y 





■"< L 
i 

. i 


• .• 1 
■ i 



wlm V-5L 


•" ul 1 •'•Labor 



EVTERiVATIONAL HER ALD TRIBUNE, THURSDAY, SEP TEMBER 4, 1997 

OPINION/LETTERS 


PACE 9 


Britain Mourn the Outspoken Princess 


iL^? N '^ Theou£ P«ir- 

iv&svsa 

-eifeYrp ctaSi 

Victoria « S e ° f 0 ^ 

&r* ls 

■ This is in i Iself j 

iTO impression, particularly to 

fef™ ab ^- 24° 

British people had h^n 
o?!lf d ? lheir heajrrf elt sense 

of loss for a beloved prirS 
is the case- 
of t"*** of 

People lined up to sign the 
bjoks of condolence in Si 
‘ Palace, or to place 

riS**. oulside ^ other 
royal palaces, a smaller and 
significant minority in Ena- 
land has spent the list several 
days saying nothing. 

■While the British newspa- 
pers pnni tributes that would 
sound extravagant if they 
were commemorating John F 
Kennedy. Martin Luther King 
and Joan of Arc all rolled 

into one, there are many 

including those who are writ- 
ing and editing this stuff 

who are saying very different 
things behind the scenes. 
Diana may have sounded 
t P paranoid on occasion, but she 


By A.N. Wilson 


was perfectly right to think 
that “They” — a significant 
proportion of the British es- 
tablishment — despised her. 

If she had not rocked the 
boat by talking to journalists 
about her husband's love for 
Camilla Parker Bowles, the 
royal marriage or an appear- 
ance of a royal marriage could 
nave survived. So it is argued 
and believed in conservative 
establishment circles. 

If the marriage had sur- 
vived, and if she had been a 
Patient Griselda, the ancient 
and indissoluble links be- 
tween church and state could 
have continued unques- 
tioned. The monarchy could 
have remained the uncon- 
tested bedrock of the British 
constitution. The individual 
members of the royal family 
could have continued to live 
their lives, in country houses 
and on grouse moors and 
hunting fields, safe from the 
intrusions of the press. 

Diana, her detractors ar- 
gue. changed all (hat. She 
made herself into a movie star 
and attracted to her husband 's 
family just the kind of atten- 
tion it did not need — the arc 
light of full-blare scrutiny, 
which the newspapers tradi- 
tionally have applied to 
movie stars. 

This fact — that many in 


L he establishment 

hated Diana — is what makes 
the outpouring of grief so po- 
litically interesting. 

. In recent years fee popular- 
ly of the monarchy has de- 
clined dramatically. Only a 
tew years ago the most pes- 
simistic surveys suggested 

The old guard 
mml be feeling a 
little as those in 
the old Politburo 
must have felt 
when they 
watched the 
crowds demolish 
the Berlin Walt 

that 70 or 80 percent of the 
British population wanted the 
monarchy to survive. A survey 
Iasi month by The Guardian, a 
broadsheet, put its popularity 
at just under 50 percent. 

And yet nowhere outside 
Graceland or St. Peter’s 
Square in Rome could you see 
scenes of undiluted devotion 
to match those displayed this 
week in the streets of London. 
Di-mania was never more 
poignant, never more over- 



whelming. It is like witness- 
ing a revolution, and the Old 
Guard, as they see the bou- 
quets pile up outside Kens- 
ington Palace and the mil- 
lions pouring into the streets 
and parks of London to pay 
their respects, must be feeling 
a little as those in the old-style 
Politburo must have felt when 
they watched the crowds de- 
molish the Berlin Wall. 

Two schools of thought ex- 
ist among the establishment 
now. The first is that Di-mania 
has nothing to do with the 
institution of the monarchy. 
When the grief subsides, they 
argue, the monarchy itself can 
pursue its essentially undra- 
ma tie functions. The two 
young princes can be brought 
up away from tbe glare of 
publicity and trained for pub- 
lic service in the same tra- 
dition as Prince Charles and 
Queen Elizabeth. 

Others, however, see the 
multitudes of Di-worshipers 
and sense that the future is 
quite unpredictable. They 
fear that unless the monarchy 
can provide a sort of glamour, 
a sort of thrill, a compassion- 
ate involvement with popular 
causes, the “common tonch” 
of Diana, it is doomed. 

This school of thought, 
what might be called the 
Whig or progressive mon- 
archist school, believes that 
the House of Windsor will 
learn from Diana; that she 
has, in effect, reinvented the 
monarchy , and that if the fam- 
ily adapts itself along the lines 
she pioneered, then tbe future 
of a constitutional monarchy 
within a modern democracy 
remains viable. 

There is one terrible flaw in 
this argument, even if you 
agree with it as a general 
strategy for saving the mon- 
archy. It ignores the fact that 
the Di style could be pursued 
only by Di. 

The restrained manner in 
which the queen visits a hos- 

E ital is light-years away from 
liana's informal approach, 
sitting on the end or beds, 
hugging people, getting on 
first-name terms with them, 
calling them up on the tele- 
phone afterward to ask how 
they were doing. You could 
no more imagine the queen or 
Prince Charles behaving like 
this than you could imagine 
them flying. 

Even if the House of Wind- 


Diana’s Point: The Windsors Are the Problem 


W ASHINGTON — Diana Spen- 
cer’s death ai 36 leaves an im- 
portant international political story un- 
told. The British people will now have to 
imagine what impact she would have 
had through her sons on their tattered 
royal family, which seems ro have lost 
the will to reign. 

The woman known irrevocably as 
Princess Di seemed to want to destroy 
the monarchy at times; at others, ro fare 
it to modernize and survive so that her 
son could be king. She died without 
achieving either goal. 

In the" hothouse exile of celebrity, 
A glamour and good works that she chose, 
7 Diana frequently let show the burning 
desire for revenge on her ex-husband, as 
some television newscasters identified 
Prince Charles over tbe weekend with- 
out elaboration, and on his family. 

Diana and Charles at their worst epi- 
tomized the British adage that the nat- 
ural weapon of a woman in affairs or the 
heart is revenge, that of a man. indif- 
ference. Their private war was not un- 
usual for existing; it was unusual for 
being made at once so public and so 
personal by an institution that has de- 
pended on mystery and distance from 
fee populace for its authority. 

Somehow Diana came to understand 
the power of myth-making and myth- 
mainte nance in the celebrity era bettor 

> than the Windsors did. . 

% She took to global television m a 
confessional interview that was a 
shrewd, tough negotiating pioy which 
turned Wall Street deal-makers green 
with envy. Sotto voce, she was asking 
the roval family: You want to see- crazy. 
I can show you crazy if I don t get rn> 

a a nnt miirh of what she 


By Jim Hoagland 

sought in the negotiations with the 
Windsors, at little cost for her with a 
public that saw only what it wanted to 
see when it gazed on her preternarurally 
gorgeous face and figure. 

Here was affirmation of the most per- 
sonal kind: You could be more beautiful 
and glamorous than any human has the 
right to be, and still be ignored and 
rejected by an ungrateful, uncaring 
spouse and his scornful family. Who 
could not identify with that? 

That identification may explain the 
instan t creation of the much-needed 
myth that Diana was somehow “the 
people’s princess.” 

At tbe time of her death she was 
speeding through Paris in a chauffeur- 
driven Mercedes after dinner at the Ritz 
with an Egyptian financier/playboy with 
whom she had just been yachting off 
Saint-Tropez. Is this really the way the 
British “people” (or any other 
“people”) vacation? 

Many would if they could, no doubt. 
Much of British history is family his- 
tory, ai least as told by Shakespeare & 
Co. One function of monarchy has been 
to play out on a grand scale the personal 
and family foibles, conflicts and, in an- 
other era, heroism that lie in wait in 

every household 

But past British monarchs ruled as 
larger-than-life figures, and usually with 
a cause, however specious, to justify 
their excesses. The Windsors have had 
the misfortune to reign in a time without 
causes that they could latch onto. Until 
the tragedy of Diana’s death, wear fam- 
ily rales of alcoholism, philandering 
excessive libido and poor judgment did 
not rise above the petty. 


That is where Diana alive tramped 
them, driving home one essential sub- 
liminal message: The British problem is 
not with monarchy but with this family. 

Some dismiss tins monarchy, and oth- 
ers, as “merely symbolic.” But symbols 
axe important in governance, as in life. 
Effective European monarchies have 
evolved into political guardrails, signi- 
fying public acceptance of national tra- 
dition and a universality that is above 
factional politics. 

That is how tbe monarchy functions 
today in Spain, where King Juan Carlos 
has adroitly turned his reign into a uni- 
fying force for his people and helped 
guide his country from Franco ism to 
democracy. The Netherlands, Norway 
and Sweden provide other positive ex- 
amples of modem monarchies. 

The British failure is partly a failure of 
mechanisms. Charles grew into adult- 
hood and middle age with nothing se- 
rious to do but to wait for his mother to 
die. She could not abdicate. He could not 
disappear. Politically the Windsors ^rew 
out of touch, outmoded and at tunes 
boorish, as Diana reminded the world by 
being none of those things. 

At fee moment of her death the palace 
seemed initially and characteristically 
uncertain about what to do, except de- 
nounce fee lowlife paparazzi who 
stalked her. But the politically astute 
prime minister, Tony Blair, quickly 
stepped forward to proclaim Diana fee 
■people’s princess and to make clear that 
she would be treated in death with fee 
dignity and sensitivity that she felt was 
denied her during her royal life. 

Diana could not save this royal family. 
That task ironically now seems to fall to 
Tony Blair and his New Labour Party. 

The Washington Post. 



Diana’s Memory 

In everything written about 
Diana, far too much has been 
made of her “unhappiness, 
a word feat is both vague and 
. irrelevant- What is important 
&to her memory i* 

■lived a purposeful and suc- 
cessful life. The author and 
political scientist Leo Boston 
expressed it best when he : s 
that other things are more im- 
portant than happiness- 
“Nothing is more reward- 
ing than the effort a 
makes to matter — » 
to stand for something 
haw it make some differed 
that he lived 3t ^ 

peter SHER* °° d - 

Hung bong. 

The dav Diana was ^ 
in a car c'rash. thousands of 
Peopie also ** 
poverty, famine, 

” So why all this fuss about 


Diana? Although , she won 
worldwide admiration for her 
natural charm as a simple per- 
son who disliked the mon- 
archy and who was a strong 
for the less 

she was herself to blame for 
fee circumstances m wluch 

Sh H?« could she have W 
unaware ihai her ctauffwr 

^overtheiegaJaicoholl^ 

it* Did she nor realize that hex 
date wife a 

likely to interest fee |P«* 

I liked her very much and 
wi sad when she died. .But 
the press cannot be held re- 

Arnboise, France. 

It is not enough to be*' 
dinaant at the mbloid I 
SfiTaction. do something. 

jzrssStt 


non to one of the causes feat, 
to fee coming years, wonld 
have so benefited from Di- 
ana's personal commitment. 

Challenge fee editors of 
tabloid publications to pub- 
lish an edition dedicated to 
the memory of Diana — an 
edition containing only news 
of unknown people, unknown 
stars, who daily by their ac- 
tions make a difference in the 
lives of others. 

ANNE BRUEGGEMANN. 

Maisons-Laffitte, France. 

It’s become a given that 
famous and beaatiftd women 
inevitably get entangled wife 
rich playboy-type men, thus 
providing the media with 
endless mind-numbing mate- 
rial about feeir useless lives. 

But perhaps I'm being too 
harah. The lives of celebrities 
may not be totally useless: 
They do provide entertain- 
ment for the masses who live 
ordinary or difficult lives. 


Celebrity doings particularly 
fuel fee dreams of women, the 
majority of whom are second- 
class citizens of this planeL 

When wealthy men lavish 
riches on famous beauties, un- 
derprivileged and disadvan- 
taged women around the 
world dream feat they, too, 
can seme day achieve wealth, 
comfort and security. This is 
why fee beauty industry is 
booming, entrapping women 
in a culture of cosmetics, diets 
and plastic surgery. 

Ail the fuss about celebrities 
. makes me wish that the really 
worthy women of this world 
would receive fee most media 
attention. There are countless 
straggling health workers, 
educators, socialworkers and 
housewives, particularly in the 
Third World, whose work 
goes unnoticed and unappre- 
ciated. But of course they do 
not make good copy. 

RENATA LOPEZ. 

Hong Kong. 


sor wanted to revolutionize 
its public image and woo the 
public by pretending to be Di- 
ana, it is very doubtful wheth- 
er any member of fee family, 
after this, would have the 
emotional energy. 

Prince Charles is not the 
monster often portrayed in 
popular newspapers. He is a 
Pnn.ce Hamlet, agonized, 
self-doubting, self-critical. 
This death could very well 
have a paralyzing, shattering 
effect on him. 

What effect it will have on 
Diana's sons, no one can pre- 
dict It would be hard, given 
the manner of her death, to see 
how her sons could avoid 
growing up without a hatred 
of tbe press — and the whole 
success of the Di phenom- 
enon depended on her con- 
scious courting of fee 
tabloids. 

So. none of us knows 
whether fee actual institution 
of monarchy — the very fab- 
ric of the British constitution 
— will survive, or whether 
feepeople want ir to survive. 

Thor repeated belief that 
Diana was 1 ‘One of Us’ ' was 
immediately adopted by fee 
ever sJdllfuJ Tony Blair, who 
has reminded them that he is 
One of Us, too. But Britain is 
not used to being governed by 
One of Us. We used to like 
being governed by “Them.” 

Maybe They have had their 
day? u so, historians will cer- 
tainly see Saturday. Sept 6, 
not just as Diana’s funeral but 
as Theirs. But They are tough 
old cookies, and won't go 
quietly. 

The writer, a novelist and 
biographer, is author of " The 
Rise and Fall of the House of 
Windsor " He contributed this 
comment to The New York 
Times. 

A Lot of Women 

The princess is a symbol 
for every woman who has 
ever felt wronged by a man. 
She means something to 
every woman who has wor- 
ried about her weight, every 
woman who has felt she was 
struggling in a stuffy, male- 
dominated society. Add them 
together, and you have a lot of 
women. 

— Boris Johnson, 

commenting in The Daily 
Telegraph (London), 


The Fault Lies With the Man 
In the Back of the Mercedes 


By William Safi re 


W ASHINGTON — After the shock of 
the first news of the death 
of Diana. Princess of Wales, and her escort, 
the world was swept by an angry reaction: 
Who was to blame? “Auto accident” did 
not satisfy fee sinking sense of loss. What 
person, group or cultural fault could be 
held responsible? 

The paparazzi, of course. The word, per- 
haps meaning “wastepaper,” was formed 
from Signore Paparazzo, a sidewalk pho- 
tographer in Federico Fellini’s 1960 “La 

MEANWHILE 

Dolce Vita," a film about decadence 
centered on a gossip columnist. 

These photographic bounty hunters were 
the first to be blamed for hounding the 
photogenic princess and her escort, fee 
playboy Dodi ai Fayed, to feeir deaths. 
Public revulsion was compounded by al- 
legations that they were photographers first 
and Good Samariums not at all. 

Respectable, credent iaJed journalists 
eager to distance themselves from pictorial 
intrusionists gave much coverage to the 
princess's embittered brother, as he moved 
fee blame up the line to editors with “blood 
on their hands/ ' 

Would-be sociologists played fee blame 
game by finding fee ultimate villains: all the 
celebrity-titillated, scandal-hungry readers 
and viewers who bought the papers and 
watched fee channels that fed their insa- 
tiable hunger for gossip and human foibles. 
In feat view, because we’re all guilty, 
nobody's responsible. 

This progression of blame — from 
money-hungry paparazzi to paper-selling 
editors to sensation-hungry readers — 
suffered a setback when blood tests showed 
the driver of the limousine to have con- 
sumed triple France's legal limit of alcohol. 
That did not deter the spokesmen for fee 
distraught al Fayed family, who continued 
to insist (hat the crash had been set in train 
by fee pestilential press. 

Wait a minute. Who assumed respon- 
sibility for fee safety of fee princess? Her 
wealthy escort, of course. 

Mr. al Fayed acknowledged his protec- 
tive burden by hiring an armored Mercedes 
Limousine. In a nondangerous deception, he 
sent another car off as a decoy. He ac- 
companied Diana in fee back seat of fee 
Mercedes, with her bodyguard seated in 
front with fee driver. As expected, a handful 
of photographers pursued them on motor- 
cycles. 

Remember Both fee princess and her 
escort were unmarried; feeir relationship 
was already well publicized; being pho- 
tographed together was no sin. Presumably 


he had a normal desire to be alone with 
Diana, but you sacrifice privacy when you 
take out fee most celebrated woman in fee 
world. 

He could have drawn fee limo's curtains, 
letting fee pesky paparazzi trail along but 
denying them a photograph until they 
reached feeir destination and got out of 
fee car. 

Instead, he seems to have acted irra- 
tionally. Frustrated and angry, perhaps 
wanting to impress his famous date wife nis 
power, he or the bodyguard probably in- 
dulged fee driver’s desire co lose feeir pur- 
suers. At such an order, or in fee absence of 
a “not so fast," fee driver floored the 
accelerator and the Mercedes topped an 
estimated 90 miles per hour in a 30-miles- 
per-hour zone. Everyone in the car could 
feel such a surge. 

The speeding car was not being 
threatened by men with guns, but by men 
wife cameras. They were pests, not threats, 
and the speed of their motorcycles was 
determined by fee speed of fee car. Re- 
sponsibility to resist this form of road rage 

Dodi al Fayed could have 
drawn the limo's curtains , 
letting the paparazzi trail 
along but denying them a 
photo. Instead, he seems to 
have acted irrationally . 


rested wife fee boss in fee back seat; if he 
was inattentive, it fell on fee bodyguard and 
driver. But fee overreacting Mr. al Fayed 
apparently did not even think of fastening 
seat belts when they took off. 

Perhaps we will hear from fee body- 
guard, fee lone survivor, that the driver was 
urged to slow down but chose to indulge his 
own vendetta wife the photographers. Or 
that a motorcycle roared ahead and cut them 
off. Self-serving stories are likely, as are 
conspiracy theories. 

In every scenario, fault will be assessed; 
with media self-flagellation in fashion, 
greedy paparazzi will bear fee brunt. 

Certainly the fatal accident would not 
have happened without feeir provocation. 

But the fault belongs to the man in com- 
mand inside fee speeding car who paid for 
his rage wife his life. That car may have 
been chauffeured by a drunk, but it was 
probably propelled to killing speed by a 
passenger driven by an obsessive urge to 
race away from prying eyes. 

The New York Times. 





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PAGE 10 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 1997 


r- 


HEALTH/SCIENCE 


Attention Disorder 
Strikes Adults, Too 

Some Cases Can Be Remedied 


By David J. Morrow 

New York Tones Service 




EW YORK— For Sally Fur- 
bish, life once seemed almost 
unbearable. By the time she 

turned 30, she had attended 

five colleges, nearly set her house on fire 
and struggled to find her way driving 
from one town to the next She had 
worked as a waitress and a flight at- 
tendant but seldom showed up on time. 

A doctor finally identified the trouble 
as attention deficit disorder. With med- 
ication and therapy, Ms. Furbish even- 
tually returned to college, graduated six 
years later and is now, at 37, a special ed- 
ucation teacher in Gainesville, Georgia. 

Her life is far from simple, though. In 
her classroom, dozens or Post-It notes 
adorn her bulletin board ro remind her of 
impending chores, and color-coded files 
are strewn across a table. Put the files 
away,' and it could take Ms. Furbish 
hours to find them. 

“Being diagnosed with ADD gave 
me ray lire back,” she said. “I still have 
trouble planning, but I'm making much 
more progress than l had before I knew 
what was wrong." 

Once diagnosed primarily in school- 
age children, attention deficit disorder 
— clinically defined as attention-deficit 
hyperactivity disorder — is now being 
diagnosed in a record number of adults. 
Several recent studies estimate that 6 
million to 9.5 million American adults 
have the disorder, making it as common 
as severe clinical depression or drug 
abuse. 

Through a combination of medication 
and intensive counseling on ways to 
organize themselves and function in an 
office, many people who have the dis- 
order, like Ms. Furbish, build successful 
careers. For many others, though, the 
remedies are too little and too late, and 
their careers suffer irreversible dam- 
age. 

Attention deficit disorder, unlike oth- 
er mental illnesses, is only now being 
treated in adults. At the current pace, 
adults in die United States will receive 
729,000 prescriptions or recommenda- 
tions this year for Ritalin — a mild 
stimulant commonly used to treat the 
disorder — according to IMS America 
Ltd., a pharmaceutical research com- 
pany. In 1992, the number was just 
217,000. 


F OR some adults, a remedy can- 
not come too soon. Left un- 
treated, people with the dis- 
order are often inattentive, 
impulsive and hyperactive. They talk 
incessantly, move frequently from job to 
job and seldom finish a project. 

Therapy can be so successful, though, 
that it is often impossible to pick out a 
person with the disorder who is un- 
dergoing treatment. 

"Having ADD is not a curse,” said 


Dr. Edward HalloweU, a psychiatrist at 
Harvard Medical School who has the 
disorder. “It’s like having a Ferrari en- 
gine under the hood. It can take you to 
plenty of interesting places, if you know 
how to manage it” Or, of course, it can 
take you into plenty of brick walls. 

Several factors are fueliite the surge in 
adult cases of attention deficit disorder. 
After spotting it in generations of chil- 
dren, psychiatrists have only recently 
accepted that the illness carries over into 
adulthood. In fact, like depression and 
bulimia, the disorder has become the 
disease du jour, no doubt prompting a 
growing number of panicked adults to 
land in psychiatrists' offices. 

This has caused some critics to assert 
that the illness is being overdiagnosed. 
Of particular concern is the growing use 
of Ritalin as a recreational stimulant by 
college students and fast-track profes- 
sionals. 

The trend is already affecting Amer- 
ica's corporate insurance claims. Ten 
years ago, virtually no employees who 
had group disability coverage from 
UNUM Corp. had ever filed a claim 
based on the disorder. Last year, the 
disease showed up in less than half of 1 
percent of the company’s 53,000 cases. 

T HIS has not gone unnoticed by 
employers. Typically, large 
companies like IBM consider 
the disorder a mental Illness 
and cover it under an outpatient or hos- 
pitalization plan. But because people with 
attention deficit disorder could stay out 
indefinitely on disability claims, compa- 
nies worry that they may not be able to tell 
an authentic case from a fraud. 

"Employers have to make accom- 
modations,” said John Woyke, a prin- 
cipal at Towers Perrin, the management 
consultants in New York. “The problem 
is that from a legal standpoint, it's dif- 
ficult to determine what a reasonable 
accommodation is." 

• The confusion over the disorder is not 
new. Even though it was first diagnosed 
by a British pediatrician in 1902, no one 
knows what causes it. Most epidemi- 
ologists say the disorder sterns from a 
genetic dysfunction, probably a short 
circuit in the brain. Yet other studies 
point at fetal exposure to environmental 
toxins like lead, cigarettes and alcohoL 
All this can make it difficult to dia- 
gnose. The disorder, which begins be- 
fore the age of 7. has nine symptoms of 
either inattentiveness or impulsiveness. 
The presence of any six can constitute a 
positive diagnosis, but psychiatrists can- 
not always distinguish the disorder from 
mania or depression. 

Oddly, many cases over the last five 
years have been discovered not by doc- 
tors but by elementary school teachers. 
Notes about troubled students were sent 
home to quizzical parents. And even 
though they have struggled with lifelong 
inattentiveness, many adults never learn 


The frequency with which 
doctors suggest Ritalin for adult 
patients is rising even mors 
rapidly than for teen-agers or 
children, though adults remain 
a small minority of all Ritalin 
users. 

Change since 1992 in the 
number of doctor office visits 
each year in which Ritalin was 
administered, prescribed 
or recommended, broken down 
by the age of the patient, 

Adults 19 and older — i 

+250 percent 

1. 1 . 

Teenagers 
+200 13-18 





Children 6-12 


- 50 


1 1 1 1 
1992 -93 ’94 ’95 

1 1 
•96 1997 

Source: IMS America 

(proj.) 


Aid for Stroke Damage 

WASHINGTON (Reuters) — Cana- 
dian researchers say they have found a 
protein that helps stop the brain damage 
caused by stroke and diseases that target 
nerve cells. 

They used a combination of drugs and 
gene therapy to get brain cells in rats to 
produce the protein and found it helped 
protect the cells from damage. 

The researchers, at Ottawa-based Ap- 
optogen Inc. and the Children 's Hospital 
or Eastern Ontario, said the protein 
could offer a new treatment for stroke 
and diseases such as Alzheimer's, Par- 
kinson’s and amyotrophic lateral scler- 
osis (also known as ALS, Lou Gehrig's 


disease and motor neuron disease). 

Reporting in the journal Nature Medi- 
cine, they said they had named the pro- 
tein neuronal apoptosis inhibitory pro- 
tein, or NAIP. They said it was found 
almost exclusively in nerve cells. They 
said it interfered with apoptosis, the pro- 
grammed cell death that usually kills off 
old or damaged cells. But in diseases like 
Alzheimer's, or after a stroke, the pro- 
cess sometimes starts accidentally and 
kills healthy cells. 


An Ear for Stethoscopes 

CHICAGO (Reuters) — In a finding 
described as disturbing, U.S. researchers 


have reported that many new doctors 
don't know bow to use a stethoscope 
properly. 

But there is an exception. 

Physicians with a trained ear for mu- 
sic are generally better equipped to get 
the most out of the stethoscope, said the 
report from the Allegheny University of 
Health Sciences in Philadelphia. 

The findings were based on a study 
involving more than 450 first-, second- 
and third-year internal medicine and fam- 
ily practice residents. They were asked to 
detect 12 different heart problems by 
listening with a stethoscope to cardiac 
rhythms played on a high-fidelity tape. 

The study was published in the Journal 
of the American Medical Association. 


CROSSWORD 


ACROSS 

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B Gyro bread 
s Weight ot a 
stone 

w NATO member 
Abbr. 

is Oar* horse 


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1 7 Buy everyone 
beers? 

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houses 

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lettuce’’ 

44 Dutch genre 
painter 
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ocean 

phenomenon 
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Governor Roy 
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si Meal 
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56 Walk quietly 
M 'Sweeney 
Todd* prop 
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punishment 
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aftBmative 
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67 Things to worry 
over 

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2 Sampras and 
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conjunction 
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monicker 

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24 Fiesta Bowl site 
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movies 

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them 

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©flreic York Times/Edited by I fill Shorts. 


Solution to Puzzle of Sept. 3 


Hama sanina 


Risks of Genetic Mapping 


By Rick Weiss 

Washington Post Service 


W ASHINGTON — Bert Vo- 
gels le in wasn’t looking for 
a “Jewish” cancer gene 
when he scanned through a 
database at the Johns Hopkins Medical 
Center last year and noticed something 
coincidental about two blood samples 
stored there. In the end, however, that’s 
what he found: A tiny genetic alteration, 
present in one of every six Jews of East 
European ancestry and virtually absent 
In non-Jews, which doubles the odds of 
getting colon cancer. 

The discovery, announced last week, 
promises a newfound ability to identify 
those at risk and to offer them better 
preventive care. But the finding also 
stirred deep anxieties within the Jewish 
community, which has watched in grow- 
ing discomfort during the last few years 
as research has focused on genetic al- 
terations especially common in Jews, in- 
cluding those that cause breast and ovari- 
an cancer, cystic fibrosis, Tay-Sachs, 
Gaucher's and Canavao’s disease. 

The news led many Jews to ask wheth- 
er they really have more genetic diseases 
than other groups and if so, why. Some 
expressed worries that reports of such 
findings may have a negative impact on 
the image of Jews among non-Jews. 

"We’ve been receiving phone calls 
indicating a certain amount of fear and 
confusion,” said Amy Rutkin, director 


of American affairs for Hadassah. the 
nation’s largest Jewish membership or- 
ganization. “People are asking. Is too 
much research focusing on the Jewisn 
community and are we at risk of stig- 
matization?’ ” , . 

Some experts said they considered it 
risky even to talk about the subject of 
Jews and genes, for fear of reinvig- 
orating anti-Semitic ideas. But others in 
the Jewish community said it was best lo 
discuss the topic openly and that honest 
discussion would foster understanding. 

The esseoce of that understanding is 
complicated, both genetically and spir- 
itually, scientists and Jewish leaders 
said. But most geneticists have con- 
cluded that any seeming abundance of 
inherited mutations among Jews is an 
artifact bom of several unrelated factors, 
including the nature of genetic research 
and the ease with which some people can 
be identified as Jewish on the basis of 
something as simple as their last name. 

“Many Jews might say, ‘Us again?’ ” 
when reading the latest news about the 
gene for colon cancer, said Patricia Hait- 
ge, a National Cancer Institute epidemi- 
ologist “But the truth is, it could have 
been the Icelanders, theFions or anyone 
else you might be studying.” 

The problem for Jews, and the great 
benefit they offer geneticists. Dr. Hange 
and others said, is that they constitute a 
well-defined, easily identifiable and 
closely related community — exactly 
the kind of population that allows ge- 


nracists 10 start identifying dis- 

“SSSSK been found be- 

tweenspecific diseases and similarly 
tio^^s e hha«i > high B preffi« 

sickle cell anemia is 

African Americans, northern Europeans 

have a high incidence of cystic fibrosis. 

Franc isCoIIins, chief of the. National 

Human Genome Research Insumw, has 
repeatedly reminded the public that 
“everyone is a mutant’ ’ carrying dozens 
of scrambled genes. If a group woe 
especially freighted with such errors, he 
said, members migbi be expected to 
have shorter life spans as a whole, which 
Jews do not, . ' 

But for a variety of reasons, including 
the Jewish community’s early entry into 
the genetic testing field for prenatal 
screening of Tay-Sachs disease and a 
cultural consensus among many Jews 
that it is good to contribute to medical 
research, the number of findings has 
been notable in that population. 

No one is more sensitized to the po- 
tential for such misunderstandings than 
Dr. Vogelstein himself, an Ashkenazi 
geneticist whose father and father's fa- 
thers were rabbis for 13 generations. “I 
am aware of the potential for discrim- 
ination and stigmatization, he said. 
“But I also see a chance for this in- 
formation to save lives." 


0li> e 

i 


NYT 


they have the disorder until it is dia- 
gnosed in one of their children. 

For most of them, the diagnosis is 
nothing short of a revelation. Unlike 
depression, the disorder has symptoms 
that can come and go, creating numerous 
unexplained calamities. 

Bill Kennedy, a 40-year-old waiter at 
an Atlanta restaurant, struggled so hard at 
Florida State University that be blatantly 
cheated just to pass. Mr. Kennedy, who 
did not leant to read with any proficiency 
until he was 23. sneaked exam answers 
from classmates, hired friends to write 
his term papers and dated only women 
who would do his homework. 

The strategy fell apart in his junior 
year. After a doctor said he had attention 
deficit disorder, Mr. Kennedy was put on 
Ritalin and assigned a frill-time note- 
taker and tutor, who helped him graduate 
with a degree in social science. But his 
problems were far from over. 

Mr. Kennedy took a job as a salesman 
in a fur store and immediately ran into 
trouble. He had to count die ftirs daily. 
“That was really hard for me.” he said, 
“because I couldn't pay attention, and I 
always had a problem with numbers. 
Eventually, I changed jobs and got into 
something that suited me better, like 
teaching reading to the disabled and 
working in the restaurant.” 

One common characteristic among 
adults is their inability to plan or follow 
instructions. Invited to her father’s wed- 
ding five years ago, Ms. Furbish drove 
aimlessly for an hour, searching for a 
church less than 10miles(16kilometers) 
from her home. When she finally ar- 
rived. the ceremony was over. 


Diving Into the Maelstrom's Secrets * 



By Malcolm W. Browne 

New York Tima Service 

EW YORK — “The mael- 
strom! Could a more dreadful 
situation have sounded in our 
ears! We were then upon the 
dangerous coast of Norway. . . . 

“We knew that at the tide the pent-up 
waters between the islands of Ferroe and 
JLoffoden rush with irresistible violence, 
forming a whirlpool from which no ves- 
sel ever escapes . . . 

“There, nor only vessels, but whales 
are sacrificed, as well as white bears 
from the polar regions." 

Thus, in his 1870 classic “Twenty 
Thousand Leagues Under the Sea,” did 
Jules Verne describe the tenors of the 
maelstrom whirlpool charted by chron- 
iclers since at least the 16th century. 

The popular fascination once inspired 
by voracious, whirling funnels of sea 
water has been supplanted in recent 
times by fascination with black holes, 
whose cosmic appetites are far grander 
than those of mere oceanic whirlpools. 
Moreover, it is known today that neither 
Norway’s maelstrom nor any other 
oceanic eddy ever creates a whirling 
funnel of the kind imagined by Verne 
and many earlier writers. 

But although the menace of Norway’s 
maelstrom was greatly exaggerated by 
such writers as Verne, Edgar Allan Poe, 
Herman Melville and others, the 
Moskstraumen. as the maelstrom is 
called in Norwegian, is real. Over many 


centuries it has claimed countless lives 
among the mariners who ventured into it 
at dangerous times in the tidal cycle. 

Now Norwegian scientists have de- 
veloped the first comprehensive math- 
ematical model of currents and sea levels 
within the Norwegian maelstrom. The 
authors of the report. Dr. Bjorn Gjevik 
and two of his students in mathematics at 
the University of Oslo, Halvard Moe and 
Atle Ommundsen, concluded that al- 
though there is no funnel-like whirlpool 
within the maelstrom, the dangers posed 
by currents and winds in the region are 
formidable. Their research is reported in 
the current issue of the journal Nature. 

The word maelstrom, a synonym in 
English fora tzzmult, literal or figurative, 
is believed to be derived from the Dutch 
word “malen,” to grind. An ancient le- 
gend has it that a pair of magical mill- 
stones were once dropped into the sea off 
the coast of Norway and that their eternal 
grinding of sea salt produces the lethal 
eddies of the maelstrom. 

In fact. Dr. Gjevik said in an inter- 
view, “We found in ournumerical sim- 
ulation that in parts of the maelstrom 
during certain times in the tidal cycle, 
the speed of currents can reach up to 12 
knots,” or about 14 statute miles an 
hour. “What makes it so dangerous, is 
you get strong current-wave interaction. 
When the waves kicked up by the wind 
are opposite to the direction of the cur- 
rent, you get very steep and choppy 
waves, and breaking waves.” 

The horrifying conic eddy or funnel 


described by Poe in his 184 1 short story 
“A Descent into the Maelstrom’’ could 
never exist, he said. “But even though 
Poe never visited Norway, his descrip- 
tion of the coastal landscape is otherwise 
astonishingly accurate.” ■* 

Fortunately, the maelstrom has little 
effect on large vessels, partly because 
they avoid it — the main route for 
fflasial shipping lies well to the west of 
the evil Lofoten currents. The mael- 
strom's main victims are fishermen in 
small boats. Dr. Gjevik said. 

Dr. Gjevik, who is an antiquarian 
scholar and amateur sailor as well as .a 
professional mathematician, began de- 
veloping the modeling tools he used for — - 
his maelstrom simulation more than, a . x 
decade ago after oil was discovered in the 1 & 
Norwegian part of die North Sea. “As it 
turned out,” he said, “oil was not found 
under or near the maelstrom, but we have 
refined the model and used it to study 
ocean current dynamics in the Barents 
Sea, die Arctic Ocean and other regions 
along Norway’s coast and continental 
shelf. It has proved to be useful.’ ' . - 

The treacherous currents in and near 
the maelstrom, he said,, are -driven' by 
relatively huge tidal differences in the 
level of the open sea west of the Lofoten 
Island chain and that of relatively 
sheltered water between the islands and 
mainland Norwegian coast. Northward 
ocean currents created by tides force 
water into the Vestfjorden between the 
mainland and the island chain, raising 
the sea level in the Vestfjorden. 


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BOOKS 


MAN CRAZY 

By Joyce Carol Oates. 282 pages. 

A William Abrahams BookIDunon. $23.95. 
Reviewed by Michiko Kakutani 

T HE reader familiar with even pan of 
Joyce Carol Oates's enormous 
oeuvre can immediately recognize her 
fictional trademarks: a penchant for mix- 
ing the mundane and Gothic, the ordinary 
and sensaiionalistic: a fascination with 
the dark undercurrents of violence, erot- 
icism and emotional chaos in American 
life, and a tendency to divide her char- 
acters’ lives into a Before and After with 
one “unspeakable mm of destiny.'’ 

Despite these shared characteristics, 
her novels also tend to fall into two 
categories: those, like “You Must Re- 
member This" (1987) and “Because It 
Is Bitter, and Because It Is My Heart" 
<19901. that combine fiercely observed 
emotional details with virtuosic 
storytelling to turn the melodramatic in- 
gredients into something powerful and 
strange; and those. like the abysmal 
“Black Water” <1992) and “Foxfire” 
(1993). that read like perfunctory ex- 
ercises tossed off to fill some sort of self- 
imposed quota. 

Oates’s latest novel, '“Man Crazy." 
unfortunately, falls into that second cat- 
egory: Although it starts off credibly 
enough, it quickly devolves into a sen- 
sationalistic potboiler with a grotesquely 
bloody climax that mixes the goriest 
elements of the Charles Manson killings 
and the Waco showdown. 


The narrator of “Man Crazy" is a 
familiar Oatesian hero: a passive, pretty 
girl, obsessed with sex. starved for love 
and damaged by a dysfunctional child- 
hood in upstate New York. Ingrid is still 
a child when her father, Lucas, abruptly 
disappears, leaving her and her mother. 
Chloe, to fend for themselves. Lucas, it 
seems, is wanted by the police for his 
involvement in the murder of a drug 
dealer. He will resurface briefly in his 
family’s life to exact payment for his 
wife's infidelities in bis absence. 

Meanwhile. Ingrid and her mother 
lead a hand-to-mouth existence in a suc- 
cession of scruffy towns. Though she 
still carries a torch for Lucas, Chloe uses 
her good looks to seduce a series of men. 
and Ingrid soon learns to emulate her 
mother. In high school she is known as 
“Doll-girl": She will do almost any- 
thing to gel boys to like her. 

Oates makes no attempt to make her 
central characters anything more than 
stereotypes. Lucas is a handsome, vi- 
olent charmer; Chloe is a slovenly, al- 
coholic tart, and Ingrid is a high-strung 
rart-in-training. The psychology at work 
is the most reductive Freudian ism ima- 
ginable: Ingrid misses her father, there- 
fore she's drawn to older, controlling 
men; Ingrid is competitive with her 
mother, therefore she’s prone to rebel- 
lion: Ingrid has had a rotten childhood. 
therefore she suffers from bad self-es- 
teem; Ingrid has bad self-esteem, there- 
fore she becomes a doormat for abusive 
men. This, needless to say, is mechanical 
writing by the numbers. It has none of 


the emotional verisimilitude or nuanCe 
of Oates’s better novels, therefore it has 
no power to override the more implaus- 
ible elements of her stoiy. . ^ 

By the lime Ingrid is 1 8. she has joined f 
a cult called Satan's Children and fallen - 
under the spell of an evil biker named 
Enoch Skaggs who believes he’s the sod 
of Satan. The group goes a round ab- 
ducting and raping girls, and basically 
terrorizing people who have the bad luck 
lo come its way. Ingrid, herself, is gang- 
raped, beaten, tortured and thrown in a 
basement to starve, though she sees this 
all as a test of her love for Enoch. Like 
her father, she also becomes a junkie. 

Her old nickname “Doli-girl’’ is re- 
placed by a new one; * ‘Dog-girl. ' ’ - 

As the events in “Man Crazy” grow 
increasingly melodramatic, Oates's lan- 
guage, too, grows increasingly purple 
and clich&i. People say things like “I'm 
an emissary of Satan!” or “I am the 
bearer of precious seed, this seed must W 
not be spilled or lost." Ingrid describes 
the fires of lust raging in her heart" and 
speaks of preparing herself “for tHe 
crack! of the rifle for it was a sound I’d 
been hearing all my life, ’ ’ 

Although more than a dozen people ih 
this novel die horrible and in some cases, 
truly gruesome deaths, Oates tacks on 
one of her contrived happy endings. It is 
an absurd conclusion to an inept and 
gratintousiy lurid story - an embar- 

2E 8 particularly for a 

wnter of Oales s experience and tal- 

cnis. 

Netr York Times Set vice 


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By Alan Truscott 

I N some international 

sports. like rugby, the shirt 
marks the player's national 
identity. This is rarely true in 
bridge! but at the 1995 Sum- 
mer Nationals in New Orleans 
there was one partnership 
whose T-shirts — * ‘Scotland, 
European Championships. 
Copenhagen 1995” — 

clearly identified them as 
Scotsmen. They were Barnet 
Shenkin and Gerald Haase. 

Haase opened the East 
hand, in the diagramed deal, 
with a weak no-trump. His 
point-counL was appropriate, 
but his distribution was ec- 
centric. He created a problem 


for South, Charles Coon. He 
overcalled two hearts with an 

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inadequate suit and played in 
four diamonds. This seemed 
one trick too high. 

S , ou ' h won~ihe opening 
spade lead with the ace, and 
played the ace and another 
heart. East played low and 
W«k nitfed and led a trump 
South won wnh the ace and led 

his singleton club. West put un 

his aoe and led his last trump 

lour rufts and the rh.k u - ^ 
But Coon proved him 


!»y leading a heart aril ^ 
dumm I 3 Club fTOm ^ 
end played in three suits. If he 
played a major, he would give 
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R THURSDAY, SEPTEMBER 4, 1997 PAGE 11 

Mqi:awrajMn*Wnt gaU 


Blue-Collar Jobs 

.Shake the Blues 

" A Abound for the Semiskilled 


By Robert D. Hershev Jr. 

- nni.i-5«ivi.v ‘ 


Blue-Collar Jobs Rise, 

But the Work Has Changed 

Blue-collar jobs climbed to a record 32.8 million earlier 
(his year, reflecting a shift away from the traditionally 
Uea\y concentration in manufacturing and toward 
blue-collar jobs in services and utilities. 

32 Rklbon 


Lufthansa Weighs Cut-Rate Carrier 

German Airline May Form Unit to Meet European Competition 


BALTIMORE — Like 


& rizings in the United StarJet !£ n »iM tfie i 0r P oraie downs- 

’ breakup of AT&T C^m m °f l9y0s * lhe 1984 

-.while bringing vast eftE'Jncies mTh °. f ] ho “ s:indsi °* layoffs 
But you do not h ear Z h ^ ‘elephone industry. 

ffiasssss — * «3 tts. ! cis 

w.Sri.Tl'uV 3 t 1 remendou -' 1 explosion in the business ** whm 

•me local s executive vice president 

HiS 2.500 members mostly work for Bell Atlantic Com hut 
i-now have myriad o.her options. In the old dav? be 3 
^you left here, your skills weren’t really transferable Now they 

'■ ^ al ,s auQ for telephone workers goes for ll.S. blue-collar 

7 h,S spring rhe nuni her of traditional blue- 
collar jobs climbed to a record 32.8 million, eclipsing the 
previous peak reached in late 1979. p s 

Yet the rebound in blue-coUar jobs has captured little 
anention.largely because experts have been arguing for a lone 
*ttme that job prospects for minimally educated workers! 
.without a college degree or a proficiency in computers, are so 
poor. And for more than two decades, the wages of such 
workers have stagnated — or worse — while those of the well- 
educated have generally advanced. 

: • But wages for blue-collar work have started to move up. 

‘ a j 1 f r ! odes , d - v ’ res P onse IO tightening labor conditions. 

- And although the blue-collar share of jobs has skidded to 
. about 27 percent from just under 40 percent in the past four 

decades, that share has finally stopped shrinking. 

Perhaps more telling, the very nature of blue-collar work is 
-changing, moving away from the manufacturing assembly 
■line to a whole range of other sectors that require workers to 

■ use their heads as well as their hands. More people with higher 

• education are filling blue-collar jobs. 

Government figures show that more than 32 percent of craft 
w orkers have had some college experience or have graduated, 
■compared with 23 percent in I9&5. Similarly, more than 21 
percent of factory workers attended college at least for a while. 

■up from 14 percent. 

• As a result of the new demand in blue-collar workers, 
experts are re-examining some of their old assumptions. They 
■now predict that the blue-coliar ranks will continue to grow 

• itext year and into the next decade. 

. "There’s far more growth out there in that segment than is 
commonly perceived.” said Michael Niemira, an economist 
.for the Bank of Tokyo-Mitsubishi in New York. 

• On the surface. Mr. Niemira said, an uptick in the blue- 
collar share of the job market this year “might not seem like a 

■ major achievement. ” But he said it represented an end to w hat 
he called "secular compression” in blue-collar ranks, or a 

- stabilization resulting from, more than can be explained by the 
normal growth associated with the business cycle. 

•• What accounts for the growth of blue-coUar jobs is a shift 
away from the traditionally heavy concentration in man- 
ufacturing and toward expanding fields like communications. 

. transportation and law enforcement. 

. "The composition of blue-collar work has shifted in the 
direction of the service sector.” said David Smith, director of 
the AFL-ClO’s public policy department. Although he said 
.that many of these jobs do not pay as well as the traditional 
factory job, "you can find work" readily as long as you are 
reasonably skilled. 

And although American factories themselves have shed 
many workers, they are fur from the withered presence often 
portrayed in trade disputes or by people in rural communities 
That have seen a large plant closermd not replaced- The United 
States manufactures 35 percent more goods now than in the 
mid- 1 980s, according to die Federal Reserve. 

To complicate the issue, the government no longer includes 
a monthly occupational employment category labeled "blue- 
collar.” But those engaged in precision production, craft and 
repair as operators, fabricators and laborers, or providing 


\ M f i / t s 


wen 


* 


' T: 


% 



'83 ‘M 85 86 'B7 '8B 89 JO *91 - 92 '93 ‘94 '95 '9597- 

Tfiiouijh JiJy — I 

Levels in employment in six blue-collar job 
categories, in millions 


WINNERS 


LABORERS Iff •' 

WHOLESALE 

TRADE 


LABORERS IN. CRAFtYVORKERS 
TRANSPOftTATlON (W SERVICES 


2.7 '• 




LOSERS 


CRAFTWORKERS 
IN MANU- 
FACTURING 


*89 *96 


LABORERS IN 
MANUFACTURING 



Ow/aMtyf.bir SkZfF'/v: Oufuu bn 

FRANKFURT — Lufthansa AG said 
Wednesday it would consider creating a 
new low-cost European airline to fly 
less-traveled routes within Germany and 
on the Continent to stave off rising com- 
petition from lower-cost carriers. 

The government, meanwhile, said the 
sale of its remaining 35.7 percent stake 
ib Lufthansa in October would raise 
about 5 billion Deutsche marks ($2.7 
billion), with 1 billion DM more than 
expected flowing into Bonn’s coffers. 

A new airline would be a further step 
in the German carrier’s efforts to revive 
its domestic business, which has 
suffered amid stepped-up competition 
from Deutsche BA, the German unit of 
British Airways PLC, and regional car- 
riers. 

"It’s one of several options we’re 
considering as a way of reorganizing our 
decentralized routes to boost earnings,” 
said a Lufthansa spokeswoman. Dagmar 
Rotter. 

Lufthansa shares rose 50 pfennigs (91 
cents) to 36.40 DM in Frankfurt. 

Finance Minister Theo Waigel said 
the government had received 2. 1 billion 
DM in J 996 from die stale agency Kred- 
itanstalt fuer Wiederaufbau for the last 
tranche of Lufthansa. 

"We have allocated 1 .5 billion marks 
in the budget," he said, adding that die 
government stood to earn a further 1 
billion DM from the privatization. 


The share price will be set Oct. J2. 
after investors are surveyed from Sept. 
29 to Ocl 1 0, the airline said. The shares 
will be sold at a discount to the marker 
price, Mr. Waigel said, noting new 
shares would have a "price advan- 
tage." 

The shares will be traded for the first 
lime on Oct. 13. 

"I’m confident this privatization will 
be equally successful" as Deutsche 
Telekom’s, Mr. Waigel said. "As in the 
case of Telekom AG, we intend to offer 
German private-sector investors attract- 
ive conditions for participation." 

Analysts say Lufthansa has been hurt 
by Deutsche BA’s willingness to offer 
lower prices and operate at a loss to win 
market share. Deutsche BA carried 2.35 
million passengers in the year ended 
March 1997, compared with Lufthansa’s 
31.8 million passengers in 1996. 

The number of passengers on 
Lufthansa's domestic routes declined 
5.5 percent in the first half, even as 
overall passenger numbers rose 3 per- 
cent. Deutsche BA, meanwhile, saw pas- 
senger numbers almost double in the 
first six months of 1 997, helped by a new 
marketing campaign and the introduc- 
tion of two new routes. 

Lufthansa has also seen some if its 
most profitable routes, including the 
Bertin-Frankfiirt line, challenged for the 
first time by regional carriers like 
Dortmund, Germany-based Eurowings. 


Even so, analysts said they were not 
conv inced a low-cost carrier was the best 
way for Lufthansa to boost its market 
share in an increasingly competitive 
markeL 

"A low-cost carrier doesn’t fit 
Lufthansa’s image," said Juergen 
Giese, an analyst at Georg Hauck & 
Sohn Bankiers in Frankfurt. "There are 
other ways to win market share, es- 
pecially by concentrating on good ser- 
vice and quality. ’ '(Bloomberg . Reuters) 

■ Delta Weighs In on Alliance 

Delta Air Lines said Wednesday that 
British Airways and American Airlines 
would have to give up 700 to 800 takeoff 
and landing slots at Heathrow Airport to 
ensure competition under their proposed 
alliance, Bloomberg News reported 
from London. 

A draft proposal by European Union 
regulators reportedly calls for the two 
airlines to give up 350 slots. But Delta 
executives said that number would only 
maintain competition in service between 
Heathrow and John F. Kennedy Inter- 
national Airport in New York. 

“It might be enough for JFK-Heath- 
row. but there ’s a whole bunch of other 
cities that also need competition," said 
Stephan Egli, the Atlanta-based earner’s 
vice president for the Atlantic and Pa- 
cific regions. 

BA and American have a total of 
3,352 slots at Heathrow. 


CRAFfWORKERS 
IN RETAIL TRADE 


Robust Revival for Hong Kong Shares 



By Philip Segal 

Special u> the Herald Tribune 


'Employment totals have been rounded to the nearest hundred thousand 


Sevres: Bureau cl Labor Statistics 


TV St* V-fU inu-. 


protective services generally fit the definition of blue-collar 
work. It is the number of people employed in these three 
groups that hit a record ihis spring, although the toial eased a 
bit in June and July. 

Mr. Smith of rhe AFL-CIO called it "misleading" to 
interpret recent data as evidence of a comeback in what the 
average person thinks of as blue-collar work, like high-paying 
jobs in ironwork or in meedfabrication. B ut the complexion of 
what mtghi be called semiskilled work has changed, perhaps 

permanently. 

Randy Ilg. an economist at the Bureau of Labor Statistics, 
came to a similar conclusion after researching the basis of 
misconceptions like the belief That the United States is be- 
coming a nation of mere "hamburger flippers." 

It is mie, he said, ihat if one looks at jobs only by industry, 
nearly ail of the net growth since 1 989 has been in services and 
retail. And when examining jobs by occupation alone, much of 
growth is among managers and professionals. But "neither 
gives a true picture,” said Mr. Ug, of what he identifies as "an 
increase in blue-collar occupations among other industries — 
services, construction and tnmsportation-communications- 
public utility — instead of in manufacturing." 

In other words, suggested Marvin Rosters, a labor market 
specialist at the American Enterprise Institute in Washington, 
many more jobs are neither blue-coUar nor white-collar but 
something in between. 

"What about the guy who comes in and fixes the coffee 
machine?" Mr. Rosters wondered. What about computer 
technicians? "Does it depend on whether he fixes hardware or 
software?" he asked. 


HONG KONG — Asian stock mar- 
kets recorded one of their most volatile 
days ever on Wednesday as the region 
continued to adjust to an increased level 
of investor risk brought on by currency 
turmoil. 

Hong Kong's Hang Seng index pos- 
ted its biggest, point rise and stocks in 
Indonesia soared, while Malaysian 
shares plunged for a ninth straight day. 

The Hang Seng rose 978.66 points — 
or 7.1 percent — to 14,713.99. recov- 
ering some of the 20 percent loss it had 
suffered between early August and 
Monday. 

In the past month, the market has 
traded within a massive range of 3,921 
points, part of an Asian trend chat has seen 
markets soar — but mostly plunge — in 
response to greater interest rate and cur- 
rency risk following the decision by four 
Asian countries this summer to remove 
their currencies’ links to the U.S. dollar. 

"What’s positive today for the first 
rime since this crisis kicked in is you’re 
seeing selectivity among investors,” 
said Jonathon Gumsey, head of sales for 
Peregrine Securities in Hong Kong. 
Since the regional currency crisis began 
in July with the flotation of the Thai baht, 
he said, markets across the whole region 
have tended to rise and fall together. 

Hong Kong had been the leader of the 
region’s rising markets. Before last 
week, it had been comparatively suc- 
cessful in insulal ing itself from Asia's 
currency problems. The Hong Kong dol- 
lar has stayed firmly pegged to the U.S. 
dollar, although like the Philippines and 


Indonesia, Hong Kong has jacked up 
interest rates to discourage speculators. 

Last week and on Monday, though, the 
bottom fell out of the Hong Kong market 
as fears of higher borrowing costs for 
companies across the region led to mu- 
tual fund redemptions. Fund managers 
eager to raise money began heavily 
selling Hong Kong's blue-chip stocks, 
the region's most liquid. Retail investor 
selling of China-linked stocks followed. 

Traders said part of the Hong Kong 
recovery Wednesday was due to the 
unexpectedly large rise on Wall Street 
on Tuesday, where the Dow Jones in- 
dustrial average added 3.38 percent. 
Hong Kong often takes its cues from 
U.S. markets; because of its currency 
link, interest rates here move in tandem 
with those in the United States. 

"Some retail investors I think were 
just watching the marker today." said 
C.Y. Ho. head of sales at UBS Secu- 
rities. "Turnover would have been big- 
ger otherwise.” Wednesday's trades 
were worth 34.6 billion Hong Kong dol- 
lars, well short of the record 42 billion 
dollars in volume set last week. 

Like some other traders, Mr. Ho at- 
tributed some of the sharp rise to pur- 
chases by derivatives traders, who had 
sold borrowed stocks earlier in the week 
as the market plunged and were now ' 
buying the shares back at a profit. 

Elsewhere in the region, a Malaysian 
crackdown on this practice, known as 
short selling, sent that market down yet 
again. 

In Kuala Lumpur stocks fell by 5.65 
percent — their ninth consecutive losing 
session — as foreign investors contin- 
ued to pare their holdings in response to 


the government to make it harder to < 
stocks. 

In Indonesia, by contrast, news of a 
more open market sent stocks soaring by 
7.01 percent just a day after they had 
fallen to a 20-month low on concerns 
over higher interest rates. Stocks rose 
after authorities said they would abolish 
the 49 percent ownership limit for for- 
eign investors. 

That outweighed concern that higher 
interest rales necessary to defend the 
country's embattled currency, the ropi- 
ah, would hurt consumer spending and 
corporate borrowing at home. 

Given the new element of risk in Asia 
— freely floating currencies — the 
volatility in the region's markets may 
continue for weeks to come as foreign 
exchange markets react more quickly 
than in the past to any new government 
measures. A big and sudden shift in the 
value of a country's currency often has a 
knock-on effect because it changes the 
value of the country's stocks from the 
poinr of view of foreign investors. 

In Hong Kong, "the volatility is out of 
hand, but it’s not going to last forever," 
said Mr. Gumsey. He predicted investors 
would settle down following China's 
15th Communist Party Congress, which 
gets underway next week in Beijing. 

Investors in China-linked shares have 
pinned their hopes on announcements of 
state industry restructuring that may 
emerge from the Congress. Their aim is 
to bet on the companies that would ben- 
efit from having smaller state firms am- 
algamated into larger — and what China 
hopes will be more viable — conglom- 
erates. 


WALL STREET WATCH 


Small Stocks Are in Vogue, but Fashion is Fickle 


By Jill Dud. 

Wu ilun$l on Pot ftrvu-r 

., NEW YORK — Finally, 
.the numbers are here that 
[small-stock lovers have been 
Tv ailing for. 

The C-Cube M ictosy stems 
and the Kulicke & Sofia In- 
dustries of the world outper- 
. formed the Gillettes and the 
Procter & Gambles in August. 
.And the Russell 2000, which 
measures the stock prices oi 
companies just below the na- 
tion’s 1.000 largest, outshone 
the big-shot Dow Jones in- 
dustrial average and the Sian- 


dairi & Poor’s 500 slock index 
over the same period. 

The relatively improving 
performance ol small stocks 
in August, as well as during 
the course of the whole year, 
also helped a majority ot ac- 
tive stock-picking managers 
of mutual funds beat out man- 
agers of indexed funds, a feat 
not achieved for more than 
three years. The active man- 
ners had tended to shy away 
from some of the market s 
best-loved stocks, such as 
McDonald’s Corp. and 
Merck & Co., because their 
share prices relative to their 


projected earnings were too 
high. That strategy had 
caused them nothing but woe. 
until last month. 

The big question, analysts 
say, is whether small stocks 
can continue their comeback. 
And Wall Street is not sure 
they can. 

"Small stocks have a lot 
better fundamental picture 
given where valuation levels 
are than large stocks." said 
Claudia Mott, who tracks 
small-capitalization stocks 
for Prudential Securities Inc. 
Still, she added that small 
capitalization stocks have 


done better "because we've 
seen a lack of sellers on down 
days. Now what we need are 
buyers for the up days." 

Ms. Mott noted that smaller 
stocks achieved stronger earn- 
ings growth in the second 
quarter than big company 
stocks, espwrially in the small- 
capjtaiization technology sec- 
tor, which has been overshad- 
owed in recent quarters by 
double-digit gains at technol- 
ogy giants such as Intel Corp. 
and Microsoft Corp. 

The Coca-Cola Co. and 
Gillette Co. have already 
warned analysts that ihird- 



Cross Rates 


Sept. 3 


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quarter earnings will not be as 
robust as once expected, and 
Ms. Mott said that if other 
large companies “pre-an- 
nounce" earnings disap- 
pointments, investors will 
likely send more dollars to 
small company stocks. 

A Goldman, Sachs & Co. 
strategist, Abby Joseph Co- 
hen, has been predicting 
brighter days for small stocks 
for months. She noted in a fax 
ro clients last month that the 
disappointment in earnings in 
big-capitalization stocks 
"have exposed the gap in rel- 
ative valuations.” She noted 
that investors had been will- 
ing to pay a big premium for 
high-quality stocks with con- 
sistently strong earnings. But 
those prices, sbe added, 
"may be judged too rich in 
the case of earnings shortfalls 
relative to consensus expec- 
tations." 

Richard Bernstein, head of 
quantitative analysis at Mer- 
rill Lynch & Co., strongly dis- 
agrees that now is the time to 
buy small stocks. “The day 
the Fed eases interest rates, is 
the day to start thinking about 
small-cap stocks," he said, 
referring to the Federal Re- 
serve Board policymakers 
who would vote to cut rates if 
the nation appeared to be 
heading towara a recession.' 

"Small stocks do best in a 
period of accelerating nom- 
inal growth, but right now, 
accelerating growth is not 
what the bond market wants 
to see. 

If growth accelerates, then 
interest rates will rise, and 
then it will be survival of the 
finest," Mr. Bernstein said. 
“That’s usually the biggest 
and the best, not the small 
guys." 




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r 


PAGE 12 


The : Dow 


30" Year T-BohcTYiefd 



*V, - 720 VA. 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBE R-UWT^^^^^^^ 

THE AMERICAS . 

" ] Outlook for Earning ^ 

Calculating in 4 Dimensions p OW ers Rise in Stocks 


* iU 


lie '' 111 



fi 40 


New Supercomputer a ‘Qualitative’ Leap for Science 


130 — 


By George Johnson 

New York Times Service 


— •• 120 - 



A M J J A S 
1997 


110 -jT M 'J J A S 
1997 




tt¥S 






Torouto: y, j . . Tse fefex - = 

■iSeSdcb-Clly'-aiJtsa.. 


.€67^90;^:. 404^ 


ALBUQUERQUE, New Mex- 
ico — Janus, recently christened 
the worid's fastest supercomputer, 
is not much to look at: 84 tall gray 
cabinets resembling gym lockers 
lined up inside a claustrophobic, 
fluorescent-lighted room. 

Inside the drab enclosures, 
9,072 Pentium Pro processors si- 
lently trade information, giving the 
computer, built by Intel Corp. and 
installed this summer at Sandia 
National Laboratories here, the 
power to perform a once- incon- 
ceivable trillion mathematical op- 
erations per second. 


memory that it can simulate com- 
plex events — like explosions, nu- 
clear fusion reactions, missile im- 
pacts or the crash of a comet into 
the Earth — with detail that was 
impossible before. 

“The increase in power has al- 
most no precedent,' ’ said William 
Camp, director of computational 
science, computer science and 
mathematics at Sandia. 

While two-dimensional simula- 
tions are now commonplace, 
adding the third dimension takes 


Computing power has increased 
i rapidly over the years that the 


'Sfotiagp •.-•jlPSA-geiie^- -T--- 5602^*g8t£&?/; 


Source: Bloomberg, Reuters 


Intenuli.nul Herald Tnhunc 


Very briefly: 


Disney Buys Classic Sports Network 

NEW YORK t Bloomberg) — Wait Disney Co. said 
Wednesday that it had agreed ro buy Classic Sports Network, 
bolstering its ESPN sports cable channel against growing 
competition from News Corp. 

Terms for the deal were not immediately disclosed. Ana- 
lysts valued the transaction at about $175 million. 

Classic Sports shows events from the past, such as base- 
ball’s World Series. It is owned by a group that includes 
Warburg Pincus Ventures, Allen & Co., Republic Industries 
Jnc.’s H. Wayne Huizenga and AT&T Ventures. 


States Investigate DirecTV Sales 


so rapidly over tne years mat the 
announcement of yet another 
world's fastest supercomputer 
seems almost routine. Supercom- 
puters are rated according to how 
many mathematical operations, 
like multiplying two numbers, 
they can do in one second. Since 
these tasks involve keeping track 
of the position of the decimal 
point, they are called floating point 
operations, or flops. 

Over the years, megaflop ma- 
chines, performing millions of op- 
erations a second, have given way 
to gigaflop machines, performing 
as many as hundreds of billions. 
The new computer at Sandia is the 
first teraflop machine. Tera means 
trillion, and by crossing this 
threshold, computer science has 
made a qualitative leap in the abil- 
ity to use information to model the 
world. 

Janus is so fast and has so much 


In the past, computer 
weapons simulations 
were not detailed 
enough to substitute 
for real testing. 


LOS ANGELES (Bloomberg) — DirecTV, the largest Lf.S. 
satellite- television provider, is being investigated by 20 state 
attorneys general for removing channels from a presold pack- 


an enormous amount of additional 
computer power. Rendering a 
three-dimensional process in fine 
detail, and then having it unfold 
along the fourth dimension, tune, 
strains even the most powerful 
computers. 

The new teraflop machine was 
ordered for the Federal Depart- 
ment of Energy's Accelerated 
Strategic Computing Initiative, 
which tries to use simulations to 
test nuclear weapons without the 
risks of the real world. 

“For the first time we can do 
full four-dimensional simula- 
tions," Dr. Camp said. “That’s 
really a qualitative change." In the 
past, he said, weapons simulations 
were not detailed enough to sub- 


stitute for real testing. 

The computer at Sandia is not 
used only for weapons woric. It is 
called Janas because, like the Ro- 
man god, it has two faces: one side 
of the computer can be used for 
classified research while the other 
is solving unclassified problems. 

Scientists recently used the ter- 
aflop computer to simulate the 
split-second timing of a nuclear 
fusion experiment. Janus was also 
used to analyze what would hap- 
pen if a comet a kilometer, about 
six-tenths of a mile, in diameter 
and weighing about a billion tons 
struck Earth's atmosphere, vapor- 
izing part of the ocean and setting 
off tidal waves. 

“This is an experiment I would 
not want to witness firsthand," said 
Mark Boslough, a physicist at San- 
dia who worked on that project. 

“Until recently, scientists have 
described themselves as either ex- 
perimentalists or theorists," he 
said, "but computational science 
is rapidly establishing itself as a 
third branch of inquiry, and the one 
that is the most likely to lead to the 
next major breakthroughs in many 
areas of research.” 

Computers are becoming so 
powerful that scientists say they 
must remind themselves not to 
confuse the simulation with the 
real thing . 

“Without a good experimental 
and theoretical foundation, it 
would just be garbage-in, garbage- 
out — trillions of times per 
second." Dr. Boslough said. 


Recent technology articles: 
wxvw.iht.comllHTfTECHi 


Coatpttrd *n Onr SktfFnw PoM‘ to 

NEW YORK — Stocks climbed 
on Wednesday, continuing a rally 
from Tuesday, amid optimism lor 
rising corporate earnings and an ex- 
panding economy. 

“I don't think we've seen any- 
thing quite this positive, said 
Thomas Larsen, a stock fund man- 
ager at Desai Capital Management 
Inc. “It’s about as good as it gets." 

The Dow Jones industrial aver- 
age climbed 14.86 points to 
7,894.64, continuing its gains from 
Tuesday's powerful rally, when the 
Dow posted it biggest one-day gain 
ever of 257 points. 

Wednesday's trading, however, 
lacked the convulsive, 100 -point 
swings that moved the Dow indus- 
trials for most of August’s sessions. 
Investors attributed the calmness to 
renewed optimism that companies 
can deliver consistently rising earn- 
ings and that the economy can ex- 
pand at a pace chat would not re- 
quire the Federal Reserve Board to 
muzzle it by raising lending rates. 

The Dow average is now up 23 
percent since the s>tan of the year. 

The Standard & Poor’s 500-siock 
index climbed- 0.27 to 927.85. The 
technology-laden Nasdaq Compos- 
ite Index climbed 0.14 to 1,618.23. 

Bond prices fell amid concern the 
economy is growing fast enough to 
speed inflation, which may press 
the Federal Reserve Board policy- 
makers to raise interest rates. 

“The big concern is that if the 
economy doesn't slow down nat- 
urally, the Fed will have to tip their 
hand/' said Patricia Larkin of 
Dreyfus Corp. 

The benchmark 30-year Treas- 
ury bond fell 15/32 to 97 4/32, 
taking the yield up to 6.59 percent 


from 6.56 percem. conom j c 

advanced 0.5 +U-* ^, e 

ia l04 -J " 02 y -ne^^^ : 

JXe largest gain since February - 
Gateway, a Dell nval. he*dU^, 

a list of companies wmiflg ■ f 
profit in the iarest quarter. Us shares, 


U.S. STOCKS 


Tietmeyer’s Comments Pull Dollar Back Down 

channels from its most-popular package of programs in April J 

and put them in a more-expensive package. That could violate 


and put them in a more-expensive package. That could violate 
Florida's deceptive and unfair trade practices act, said Joe 
Bizzaro of the state's attorney general office. Los Angeles- 
based DirecTV said it had provided information to the states. 

• Browning- Ferris Industries Inc/s board approved a $1 
billion stock buyback plan and raised the quarterly cash 
dividend by 12 percent, reflecting the company’s confidence 
in its prospects for continued growth. 

• Interstate Hotels Co. said it would buy three hotels in New 
York. California and Minnesota for a total of $ 100 million and 
sell a 49 percent stake in them to Host Marriott Corp., 
forming a limited partnership. 

• Computer Products Inc. has agreed to acquire the rival 

electronic components maker Zytec Corp. in a $529 million 
Stock swap that will create a leader in the market for power- 
conversion equipment. Bieomhem 


CctnpiM ty Our Swtf Firm Dupatehrs 

NEW YORK — The dollar fell 
against the Deutsche mark on 
Wednesday, after the Bundesbank's 
president said the central bank was 
“not interested” in a weak mark. 

But the dollar rose against the 
pound as traders grew skeptical that 
British interest rates would rise. 

President Hans Tietmeyer of the 
Bundesbank again indicated that a 
weak mark ‘ ’could perhaps stimulate 
exports in the short run, but would 
depress the German and the Euro- 
pean economy in die long term." 

Mr. Tietmeyer also welcomed the 


correction in the doUar-mark rate of 
the pasr few days. 

Toe dollar fell to 1.8185 DM in 
late trading from 1.8344 DM on 
Tuesday. It stood above 1.8800 DM 
at the start of August. 

“The market considers that the 
Bundesbank takes a positive view of 
the mark’s recent rally, and that 
pulled the dollar down," said Neil 
Parker of Royal Bank of Scotland. 

The dollar also suffered from a 
sharp increase in German industrial 
output, which may indicate that Ger- 
many is getting back onto an eco- 
nomic growth path, analysts said. 


Provisional figures show industrial 
production gained 3.5 percent in Ju- 
ly from June. 

But Mr. Parker said the data were 
"distorted" by the fact that the sum- 


FOREIGN EXCHANGE 


mer vacation period began relative- 
ly late in Germany tfais year. 

The dollar also lost ground 
against the yen on renewed concern 
over the U.S. trade deficit with Ja- 
pan. The Japanese ambassador to 
Washington, Kunihiko Saito, 
fanned that concern, saying Japan’s 


rising trade surplus could damage 
economic links between the two 
countries, according to Jiji Press. 

The dollar fell to 120.635 yen 
from 121.575 yen. 

Against other currencies, the dol- 
lar fell to 1.5015 Swiss francs, from 
1 .5060 francs, and to 6. 1206 French 
francs from 6. 1722 francs. 

Dealers are waiting for U.S. em- 
ployment data to be announced Fri- 
day. 

The pound eased to S V .5860 from 
SI. 59 15 as traders believed a British 
interest rate rise as increasingly un- 
likely. I AFP. Btonmherg) 


dropped 3 13/16 to 32*. 
direct-mail retailer of 
computers said price cuts anjiship--. 
ment delays would put Jts earnings^ 
below forecasts for a third consec- 
utive quarter. 

Hutchinson Technology fell T 
to 30 after the maker of disk-dnye.- 
parts said it would break even in itsr 
fourth quarter ending Sept. -8. 

Seagate Technology, a oisk- 
drive maker and Hutchinson s 
largest customer, slumped : 

after Salomon Brothers dow n-. . 
graded its shares to “hold’ from- . 
“buy." . •" 

But Gene Grandone, director of 
investment counseling at the North- - 1 ■/ 
em Trust Co. of Chicago, said: "You. ■ * 
still have a good earnings picture, an 
economy that's muddling along. But."; 
as news comes in, we're going to see. .* 
the market bounce around." 

General Motors declined 1/16 tQ r - 
65 3/16 after the world’s largest . 
automaker said U.S. sales of care_ 
and light trucks rose 7.4 percent in 
August, topping expectations, led 
by strong demand for minivans and* 
midsize cars. '<2 

JPM tumbled 6 to 27 after the-’ 
maker of cable assemblies and wire 
harnesses for the computer and 
electronics industries said it saw 
earnings For the fourth quarter end- * 
mg Sept. 30 below analysts’ es-' - 
timales of 31 cents a share. 

American Buildings declined 2-kl 
to 27 ‘A on expectations that earn- 
ings would be below estimates. 

Netscape Communications rose { * 
5/16 to 41% after the developer of; - 
Internet browsing software said Sil— - . 
icon Graphics would license its en- 
gine-server software os part of its--., 
initiative to focus on the needs of 
Internet-service providers ancT - 
large-scale World Wide Web sites.-/ 
(BloomtiergrAPL' 


M.-ikf 


(a-nio . 


UdH>’hi 


U II 


TTORLUv'i S. 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 




Wednesday’s 4 P.ML Close 

The lop 300 most active shares, 
up to the dosing on Wan Street. 

Tie Associated Press 


huh u» uk* a* Indexes 


9v w* 
* * 


Sms 

re* 

lam 

Ltoasl 

Opr 

231 

19.1 

nv 

19ft 

•*) 

459 

6V» 

*h 




701 

19V 

20 

-ft 

116 

104 

10ft 

10* 

4* 

2»7 

3ft 

1 

3 

__ 

2V 

1 9*m 

!» 

15V 

■» 

197 

*■ 

1* 

ft 

-l* 

m 

11»* 

Wft 

11 

-*» 

191 

IS** 

14V 

15V 

+u 

MS 

361 

» 

R 

a? 

+1* 

EL 

ITVi 

17ft 

17ft 

+>» 


I’ll II’’* 

1 C 


350 II 
1S++ 17>. 

745 >1 
ItO 12SV. 
273 Iflft 


.a .& 


wv i«t* 

L If 

Jv. 3U 


*2 3! 

is a 

14* +»* 

+V* 

£3 

I9S* 


Dow Jones 

Shi Hloft low km a*. 
IrttHn 78MU7 794435 7*4477 719444 +1486 
Trub 293088 294492 292427 2951253 +32J3 
Uli 23418 23844 23452 23494 +159 

Comp 144434 741724 244442 2475.00 +IZ32 


Most Actives 
NYSE 


Sept. 3, 1997 

High LOW Latest Oiga Oprnl 


High Lorn Lotos! Cftge Opmt 


High law Latest Chge Optnt 


High Low Latest Chge Opinl 


GoteMOOs 
Seagate! 
Compaq I 
tontfOB 
GenEiecs 


vm Htat> 
105754 34 
94243 37V, 
81297 6 9*7 


<• Standard & Poors 


94 .<• 

W -ft 
r». 

Jtt 

3M+ -*■ 
7V» *tfe 
7w +h 


Wfh Low Otoe 
Industrials 1090481057.33109085' 
Transp. 454290 44142 45444 

UUttes 200.77 19755 200.77 

Finance 10450 10321 10480 

SP 500 92758 899X7 92758 

SP 100 89857 84894 898Z7 


58783 MV. 
53750 4IM 
48150 59te 
46757 50*. 
44739 46V* 
41944 37M 
40944 IS* 
40879 6811 
40242 W. 
.31788 129V* 


15V. 36W 
44** ten 
25M 2TU 
46* 47 

Sin 511* 
39ft 401 m 
58M SBVe 
4 m son 

45V* 4515 
36** 379* 
3m 35 
64W* 67 

.48V, 48* 
125» 125* 


CORK CC 8 QT) 

5000 8 u mWmum- cant* per bushel 


Sop 97 272 

Dec 97 274 
Mar98 2821* 


272 248*6 770 imch. 

274 27014 271V undv 


War 98 282V 27* 3 BOV until 

May 98 287V 283V 285 until 

Jut 98 290 287 287V untiL 

Sep 98 277 274 274 unch. 

Dec 99 275 272V 273 until 

EsL sates NJl. Tue* sates 47,141 
Tursopon US 302.774 off 236 


ORANCe JUICE INCTNJ 
15.000 ms.- cents per ih. 

Sep 97 48.95 48J0 6840 -0.15 WI7 

Nov 97 70 JO +.9J0 6955 unch. 17.254 

Jon 98 73.15 7250 7240 unch. 7569 

Mar 18 76 00 7550 75.60 unch 5.245 

Est. sate* N.A. Toes sates X81S 
Toes open W 33 769. OH 279 


10- YEAR FRENCH GOV. BONDS (MATIF) 
FFSOaooo - pis ai ioo pa 
sep97 130.04 129.80 129.90 - 03k, 154789 
Dec T 9800 9868 98.76 +0.10 2i56l 
ESI Mies. 123.259. 

Open tell : 178 350 up 4-576 


Sep 98 9451 9441 94.47 + 0 . 0 * 36,405-. 

Dec 98 W50 94-50 94-57 +004 31.764- 
Est sales: 47.931 Pnw. sates: 74,760 
Pmv. open tnL: 384399 aR 7M4 


COLD (NCMX) 

100 Iray K-- OoBors per Inn or 


Ocl 97 37100 32250 32130 -0.70 15.258 


ITALIAN GOVERNMENT BOND OJFFEJ 
ITL 2 C 0 mas Oh - pis CM 00 pd 
Sep 97 137.62 137.10 137.20 -002 60483 
Dec 97 109.42 108 95 108*9 -0.09 6&J14 
Est sales. 171.046. Prav. sates- 110.300 
Pwv. ccon ml.- 124797 up 7,151 


7 tft 
1 * IV 
71* IIV 


Nasdaq 


Sft 4ft 
IS** 15ft 

n 

27V 77* 

71ft 28ft 
K* II* 
44 Sift 
19* Ifft 
»** 9ft 
74* 16* 

r*» th 
35* 34* 

17V 17V 

II Ift 
12* IIV 
av ins 
71* 2Th 
!lft !Oft 
5ft M 
!ft 2ft 
io»* in* 


27** *V. 

'20* +V 
10* +V 
jm +* 

19V *ft 
9ft 
16V 

]*■ 4* 

IS .V 

17V, 

*te* *** 

Ur* -V 
«w* +* 

22ft -V 

rw *v 

S* -y» 
2* -ft 
Wf> +*• 


41694 4B2J3 «J1 +881 

61738 61193 612.95 +040 

44CL/4 43632 +T*-07 +7-75 

2*161 2te.1V 28671 +1J8 

45144 +49 -0B +091 


Nasdaq 


HM Lew Lea a*. 

162940 1616-40 tOlU* +0.15 

130609 1301.53 1304.11 +241 

176678 1747.7+ I760J4 +ISJ7 


708785 207696 2083.13 +630 
1029-59 102239 102737 +2J0 


155077 ITS* 
1S222 42ft* 
11332+ 96 
105796 87V 
97778 50 
64547 28** 
61587 14ft 
61153 102ft 
40726 32V 
57826 78V 
52324 138ft 
49554 39W 
4B&42 15V 
44*57 50* 
34094 9V 


isi si 

93V 93ft 
47V 4l>y* 

77ft 77ft 
136V*l36te* 
3BV 31ft 
12V 13ft* 
49V 49ft 
Oft 9*te 


SOYBEAN MEAUCBOT] 

100 tons- dollars per tan 
Sep 97 207-50 258-00 267J0 unch 13.748 
Oct 97 232-00 22620 231.70 unch 19435 

Ok 97 215-50 209J0 215.20 untiL 44428 

Jon 98 210.20 205.00 JIMO untiL RI 1 S 

Mar 98 2tMJ» 199-50 203J0 unch. 9.948 

May 98 201JM VWS0 201.70 undv 7,1* 

Esi sates N A Tun sates 26479 
Tub's open Ini 1 10306 Dri 435 


No* «7 3+400 -a SO 

Doc 97 325.90 324 00 325.00 -0.80 107.968 
Feb 99 327-50 325J0 326.70 -080 ISA34 
Apr 98 329 JB 328.40 32050 41.10 SJ88 

Jun 98 331.10 33000 330J0 -1.00 B.2B2 

Aup98 332 40 -1.10 3.1J9 

Ocl 98 335.00 33*80 33+80 -1.20 111 

Est sates 2ft 0<W lues sales 26.681 
Tue'sapoe Ir* WiMt up 3.132 


LIBOR I -MONTH (CMERl 
S3 mllon- pis of 100 po. 

SM 97 94 J5 9634 9635 unch 16994 

Oti 97 9633 9432 94 32 undi E 992 

NO* 97 9428 94 27 9628 unch. 10.745 

Esi sotes 1585 Tim sates 1439 
Tues open Inf 42.602. up 808 


Industrials * ' 

COTTON 2 tNCTN) 

50JXO81S.- cents per lb. ■ 

Oct 97 73-50 7230 7140 -030 7JJ00'. A 

Dec 97 73.73 7230 72-58 -033 41204- _ 

Mar 98 7690 7185 7339 4171 11+07+ . 
Ma*98 75^0 74+50 7662 -0.71 OMtr-'Z 

Jut™ 76.75 7540 75.40 -058 5694 

Est. sales N A Tue^ sales 6550 
Tom open W 87,746 a«176 


SOYBEAN OIL (CBOTl 

60000 Bn- cents por lb 

Sep 97 22.91 22-50 22.80 until. 6158 

Od 97 2106 2243 2195 until 19.179 

Dec 97 2340 2103 2330 untiL 41.043 

Jan 98 Z3J8 2XJ0 2148 until. 10708 

Mar 78 2332 2155 2174 until. 7.383 

Est. sales NA Tim's sales TftleO 
Tup* open fell 89,109. up MHO 


HI GRA0E COPPER (NCMX) 

25300 lbs - cents per lb. 

Sep 97 97.90 9430 97.15 +lefl 1190 

Oti 97 9830 96.90 97.75 -1.45 ^334 

Nov 97 98.15 9630 9&I0 *1.70 1.472 

Dec 97 98.90 46.10 98 00 -1.80 23.7+7 

Jan 98 97.90 9690 97.50 -1.70 784 

Feb 18 9740 .9645 9760 -140 740 

Mar 98 9100 96.50 97 55 -1.45 3.255 

Est sales 10.000 Tun’s sales 1103® 

Turn open Ini 4436ft up 2115 


V*L Hftf Law la, Cft. 


+851 5*b 

■61 Ti 


176 s 

m r.* 


1000 

+.12 «>» 


4V* 4V* 

7ft 7* 
If II 
14ft W» 
2SV, 25ft 

in ii 
I*** 13* 
S* Ms 


4V» *ft> 

7N 

114* *«* 

MY* 

25»» -n. 

li»« •* 
14ft 


Dow Jones Bond 


26740 «+ 
23815 28H 
12307 i 
11455 7V 


92NV 9] -Y» 

« 24ft 4 

1* , 7 +ft 

.7V« 7 V. -ft 


1D0+; 32* 31V* 31ft* ♦!!•* 


30 Bonds 

lOUinrttos 
10 Industrials 


9425 V V V -ft 

8948 ft* ft ** 

8139 27V 27V* 27* -ft 

7994 55V 55* 55ft +V 

4*20 6** 4* 6ft 



SOYBEANS {CBOTJ 

1000 bu minimum- cents per buitiei 

Sep 97 485 671 484 until 8183 

Now 97 443 632 642 undl 89.177 

Jan 98 645 435 644ft until. 21.068 

MnrIS 453 6«ft 653* until 9J19 

May 98 MO 650 640 until 6577 

Est sales NA Tups sates 3M42 

Tun opon bit 142^84. up 710 


3V* 2H 
5* 5ft 
6 * 4ft 
lh* ll«* 


Trading Activity 


7V* 7 

it* in 
18ft 17*. 
17* lift 
2 * tft 
ft i* 
16W 15ft 
21 ft 2(1* 
Tft Tit 
4ft* Oft 


Nasdaq 


tft* 4ft 
+* (ft 
59* 5>, 

V* ft 
10 ft* 10 « 

tn t 

nr. 11V* 
2. Ift 


V 

tft* -v» 

w 

4* -1* 

5ft 

ft - 

10 * «u 

6 -ft 

IIV •';« 

2 

i+v* -ft 

II* -ft 

J 

jn -ft 

8ft -** 

5V -* 

IV -V* 

64. *V 

M -V 

2V -* 


Mvarced 

DMned 

unaunpea 

Tofdesues 

NawHtefts 

Hew Laws 


(750 3177 AOWnwd 

1155 751 Decteiefl 

502 +79 yrchoiwfl 

W7 3477 TnWiswes 

HI in Nmt Midhc 


248 241 NewH+hS 

9 21 Hew Lowi 

Market Sales 


1688 2683 

1487 1+71 

2064 1584 

5+41 57+4 

190 332 

52 45 


WHEAT (CBOTl 

8000 bu mMaHinv terns per bushel 

Sep 97 384 373V> 374V until. 4723 

Dec 97 395 MEIV 390 untiL 69.158 

Maris 406ft 400 4021, untiL 20.999 

May 98 405ft 402 404V unch. 1305 

Esi. sales NA Tub's sates 21089 

Toes open ha 107,356. ofl 1.004 


SILVER (NCM3Q 

&000 liny m- cents per Iray <k 

Sep 97 466.50 45630 464.40 -490 1193 

00*7 446 40 + 4.50 78 

NOV97 469-80 -4 50 

Dec 97 473-50 46150 470 70 -450 SL137 

Jan 98 472-30 +65.00 +7210 »jjo 72 

Mar 98 47850 471 JM 477.60 -4 50 11.546 

May 98 52+83 47740 481 H) --L50 1224 

Esi sates 1 1.000 Tues sotes 9.363 

TUB'S open Ini 77.184, Ml 441 


EURODOLLARS (CMERJ 

51 mil Ion-pis ol 100 pel. 

Sep 97 9427 94.36 9426 UHtiL 

00 97 94.19 9418 9418 unch. 

Dec 97 9411 9408 94JJ9 unch. 

MarflB 94JJ3 9+00 9481 -0 01 

Jun 98 9193 9188 93.90 ^01 

Sep 98 9 3 83 93.79 93 8(1 4j.fl| 

Doe 98 9170 9166 9168 -0JD1 

Mar 9? 9168 9164 91A5 -0J11 

JUH 99 9364 91e0 mi -ajot 

Sep 99 9160 9156 9157 -OJJI 

Dec 99 9153 9149 9150 4U1I 

MOI 00 91 S3 9149 Ijjo 

Es). sales 289.001 Turn sates +5IXS77 
Tubs r*ien Ini 2JII3.9S2. up 4626 


HEATING OIL (NMER3 
42JXM got cents per pal 

Od97 53.75 5320 5135 -0.05 +8669 . 

Nwr97 5480 54 JO 5443 -0.07 31,861 ., 

DecM 55.95 S5S 5558 4X0S 2130V „ 

5465 56J0 5643 until 19.853 
56.95 5663 5663 -0 46 10849' , 

MarW 5660 56.13 56.13 until 8163 . 

Apr 98 55 JO 5493 5493 until 1437- " 

Esi sates N 6 . Toes sales 19,123 ' - 

Tues open Ini 1 480+0, OH 864 


LIGHT SWEET CRUDE (NM ERJ * • 

1,000 bbL-dolan per hbL 

Od97 iy .79 1934 |4. A | .0.04 l(Q.lir- 


EJT'S ! ’A 6 19.74 4L02 48.980“ 

11 94 1975 W* -0 03 51,66* 

Jan^ 20.00 1985 1986 4102 3aS0T 

,p - w -0312 15,179' 
Mar 98 19.92 19J6 1966 - 0 JH iai5T 

Em. sales N A Tues sates 64870 
Tub's open iru 406431 up 3643 


BRITISH POUND ICMER) 

62500 pounds, 5 per pound 

Sep 97 15960 15818 15842 4)0064 44167 

Doc 97 1 5918 1 5760 1 5782-0 0064 XXB 

Mar 98 15750 1571B 157TB -OOOW 217 

Est sates 8891 Tues sales 21.077 

Tues open irrt 49.491 up 1,9 r I 


Advanced 
Deateed 
Unchangea 
Tondtssuas 
New Hwb 
N ew lows 


3+3 166 

245 225 NYSE 

'« Jfi Amex 

7 3 W Nasdoq 

II 7 In miHams. 


Today Pnrr. 

«« con. 

54869 59493 

29.18 3164 

61357 58368 


Livestock 

CATTLE (CM ERt 
4ium tes.- cents per lb. 

Oti 97 6765 6705 *752 +012 

Dec 97 6955 6875 4967 -0J3 

Feb 98 72.07 7147 72.07 *0^7 

Apr 98 7420 7357 7412 *0.32 

Jun 98 70 75 70.22 7067 +820 

Aug 98 7065 70 05 70.30 +825 

Esi sates 18005 Tutrs sates 9,977 
Tue-s open hd96J»4 up 472 


PLATINUM CNMER) 

50 irov re.- dOBar. per troy re. 

00 97 41150 40460 409.70 until 9.743 

Janes 4U5JW 399.00 407 70 -ISO 2540 

Apr 98 39870 150 440 

Jul98 394 70 -150 2 

Esi. sales NA Tues: sates 842 

Tues open *il 13.075. ufl 42 


CANADIAN DOLLAR (CMERl 

1 0&O0Q (todors. i per Gin. db 

Sep “7 . 7241 .7729 7732 until 51.162 

Doe 97 .7777 7264 7768 unch. 1GS77 

Marie 7305 7797 7277 unch 7JJ 

Esi sales iai72 Tues sales 14.273 

Tues open ml 62.7S7. oil 1.M 5 


NATURAL CAS (NMER1 
J*y22 ram bhr L * Per mm blu 
l 3ti9’ I860 2 /40 2507 +8014 

2.W0 1015 +8023 
Si™ J2 3 ? J -‘ 170 +0.025 

}£. I™ 2-740 +0.015 

Mar 98 2.490 2 .+OT 2.475 -06K1S 

Esi sales NA Tues sates 51478 
Tues open Ini 7I7.*7I. up +JO 


58.984' 
22.767 - 
21,771 ' 
22 ^ 66 " -■+ 
15.506".+ 

I82S4T ,, 


Close I 

LONDON METAL5 (LME) 

DoHors permtinc Ian 
AhmUmun (Hiq* Grade) 

Spal 15*7.00 15*8.00 1579ft 

Farwmri 1595 00 159*00 1607 00 
Capper Calfmdes (Hteb Crude) 


GERMAN MARK (CMERl 

12X000 morti i per mark 

5+-P J870 5441 5496+00042 91.7jj 

°9C97 5551 5476 iSM-a00J3 1*254 

MorlS 5577 jjs* 5559 - 0 0042 1630 

Esi. sates 27,057 Tues ypes 4-7.758 

Tuel Open Ini 1 09.805 up 1 .7*1 


5pol 717T- 2133ft 21580*1 

Forward 7138ft 7139‘v 2155 00 


Dividends 

Company 


it «». 
aft, u<* 
H 12V 


91 6 * 

Rft* -ft, 

12V 

7ft -V 
20V -* 

ft +. 
V*» -ft 
lift 


Company Per Amt Roc Pay 

IRREGULAR 

am Wall Elec b .1937 9-18 12-4 

Royal BkSeoflnd b 5703 9-15 9410 


Company 


Sw 5ft 
I 2 ft lift 


IV 4* 
15V -ft 
ft* +« 


STOCK SPLIT 

Bando McGlockin JE38S4olaslKacoMn. 
vesten Boncsep for tnesy share held: 
Barra Irrc3 for 2 SDSt. 

EndasonksCorp 1 share <rf Cadlouas+rakir 
Dynan*a tor every 25held. 


Albertsons Inc 
CFW Coni own 
Cotwlnc 


Per Amt Ree Roy 
REGULAR 

0 .16 10-31 11-25 

O .103 9-10 9-30 
O .06 9-5 10-23 

Is Q -04 9-16 10-3 


Doughties Foods Q M 9-16 10-3 

Emerging MU M .1325 9-16 9-30 

Fiteqfts Restaurant Q JH 9-M 10-10 


FEEDER CATTLE ICMER) 

58000 lbs.- cents per lb. 

Sep 97 79.65 7880 7455 +865 

Od 97 79J7 78JS 79J5 +067 

Nov 97 8040 7950 8827 +865 

Jan VI 8140 9055 81.17 -045 

Mar 98 8092 3040 8887 +832 

Apr 98 8897 8037 8085 +035 

Esi. sates 2.996 Tu?s sates 1,952 
Tun open lid 21 , 0 * off 682 


63lte 6J2ft 631*.- 
6+6.00 647.40 644 00 


Spot MOO 00 661800 6490 40 
Forward 670SJJ0 6715JM 6590.00 
Tin 

Sool 5350 00 5355 00 £33500 
■Forward 5+05 00 S41000 SJBiOO 
ZMc (Special High Grade) 

Spal 1673 00 lfc7MH 1660 00 
Forward 1488.00 1489 00 1+89 00 


JAPANESE YEN (CMERl 
125 mlWan yen s pci inn nn 

-JJJS 827* +047027 96,909 

Das IT 8410 8345 8384-0 0027 11643 

MarlB 8490 ,B4vo 8497+00027 S ->2 

Esi srtes 21.655 Tuoi UJ6-. 29 -un 
TueS open liu I iai51 up 5885 


UNLEADED GASOUNE (NMERJ 

+ 2,000 got eenls per gal 

Da 97 64J0 61.90 67-55 +UJ 

SIS 58410 s®- 3 * -DU 

'SrSJ S-fS 57,0 S7 31 -O.I7 

S' 5 ? S 6 - 95 57 13 -014 

Fed 98 S7 a0 S7J3 57 43 -0.14 

API 98 68*3 ^14 

Esi sates NA. Tiws sales 24,768 
Tues open ml JOlsn. til 546 


35* Bft 

40V 3Vft 


1 1 »V) 

m -i>* 


Gaylonl Entertain 1 share of Gaylord Ea- 

Wtaln new for eodi Sjlwres hew. 

Kinder Morgan 2 for 1 split. 


Global Prior Into M -11B7 Mfi 9-30 
Great Urices REIT, D M 9-19 9-3P 

Joachim Bncp O .125 9-15 9-30 

Juno Lighting a JW 9-15 10-15 

K-Swtas 0 -CD 9-30 10-15 

Kmnzco RflY 0 M 9-28 10-22 

MoifclVIno _ Q .84 9-15 10-1 

Mentor Income Fd to JJ7 9-15 9-30 

NSD Bancorp Q JS 9-1* 9-30 

Royal Bk Scat B b .70 9-15 9-30 

Royal BkbcotC b -593 9-15 9-30 

Royal BA Sort E b MTS 9-15 9-30 

Royal BfcScalF b 3312 9-is 9-30 

Snyder Oil Q .065 9-15 9-30 

Templeton Gib In M OS O-I 4 9 30 

TranzanicCos Q J)7 9 30 10-15 

Llnhereal Hltti Q .425 9-is 9-30 

D-tmiuic* b-apprudmate aammil per 
shore/ ADR; 9 -paynWe to Canton hmto 
m-mantMyr mportertyj s-setm-ennooi 


S 4ft 

18*1 IP* 
1(4 IT* 
24V 2J« 

ir- nv 

*■»* ttn 
17V I7ft 
7ft »>i 
13ft IK 


KnmzcoRflY 
Mori Wind 
Mentor Income Fd 
NSD Bancorp 
Royal Bk scats 
Royal Bk Scot C 
Royal BA Seat E 
Royal Bk Scot F 
SriyderCNl 
Templeton Gib In 
Tranzonic Cos 
Universal HIM 


18V* -ft 
1M* +V 
2 + -ft 
12ft +W 
3Wft +v 


STOCK 

Nall liKsmeRtty _ 109* 9-15 9-30 


17ft 14ft 

1M 16V 
27ft TM* 
+Vk Mm 


14V 

Vfn •** 

41* -ft 


INCREASED 

Guaranty FerS S 32 9-12 10-18 

PreskJenfial U Q .06 9-15 10-1 

SBajde Boncah Q .18 9-8 9-15 

SforreltLS, Q .19 9-12 9-26 


10ft 10V 
1 * ftl 


INITIAL 

PtaraerNatarRes _ .05 9-16 9-30 
State Bncpn _ .12 9-19 iai7 


KOGS-Lean (CMERJ 
4L000 tos^ qnth per lb. 

00 97 7180 W40 ’163 +127 

Doc 97 6885 67.60 C&5S +1.07 

Feb 98 67 A0 66-40 67.27 +a«S 

Apr 98 6U5 62-31 6115 +0J9 

JIM 98 67.70 67.45 67.80 +0.4S 

ea. sties 8J71 Turs sates Mfll 
Tun open tot 32.ua up 567 


Hldi L»» Ctesn Chge ripuri 


SWISS FRANC ICMER) 

123,080 Ironcs. s per franc 
Sfp" ®SF -4447*0 (021 44706 

Dec «' .6759 .673+ 6738+0 0021 ilS8 

Mar 98 .4808, 0»7I JJtel 

Esi. *a*n 11.937 Tues sales 18.042 
Turn open Ini 55.135. Oh 722 


GASOIL (IPE) 

U s. dollais per metne ion ■ lois ti 
Scp97 165 J5 163.75 16375 - 
Oct 97 147 J5 165.75 1 65 75 - 
Nov 47 168.75 167.75 16&00 - 
Dec 97 170 75 149.75 169 75 - 
ton« 177.00 1 71 JO 171 00 - 
Feb 98 NT N.T. 171J5 - 
Marig 171 00 170.75 1 7000 - 
Est solos I2.300 Piev. sates : 1 
Prev. open tot.: 91.857 up 1.753 


100 tern 
-100 14.724 
-1 25 21.788 
-l+» IIJ75\ 
-1.25 15,987 
-1.25 10.217 
-1.25 4S95 

-1 00 1785 

I.S19 


PORK BELLIES (CMERl 
40000 Bis.- cents per fc. 

Feb 98 68.95 6 7 JO 6062 + 1 A 2 

Mar 98 68.65 «7 35 *040 +1.25 

May n 69.10 6080 6080 +2.00 

Esi. sales 1.969 Tixr. sates IA41 
Tuffs open UK 4357, up 56 


Financial 

US T BILLS (CMERl 
51 iriHIten- pis to 100 pd. 

5ep9/ 95JJ1 94.93 9500 +0 05 mWl 

Cw97 9J86 9+ B3 9483 until 17W 
Mat 98 94 79 Ounch 1.218 

Esi sain W Tues sales 1.6V7 
Turn open ml KVH 6 . off 252 


MEXICAN PESO (CMERl 

soaepoo pecoi i p«* peso 

Sep 97 .12875 1 7800 11817 i0n00}5 21031 

!?22J !?3<S I7i.’7+ 00071 it«s 
Uar9B 11880 IIB65 11870 . 5.743 

0.00014 

Eel arts 4.201 Turn mtesS.786 
Tun open hi 41875, up i>i 


SYR TREA5URY (CBOTl 

Sioaooo prin pis A 6+ltm ti 100 pel 

Sop 97 106-43 106-50 106-51 -OS 104.892 

Dec 97 106-44 106-30 106-31 05 111254 

Esi. sales N A. Tues sates 44.330 

Turt open I 111 218.7-hL til 94 


Food 

COCOA (NCSE) 

10 meMc tons- s per ton 


1+9* Uft 
Rft 7Pi 
1"ft TV 


1 »ft 
iw ri 

Vt 

hu 391) 


l+» 

Tfw -V 
IV -V. 

+v 

*•» -ft 


m -ft 
»t .v 
RV -H* 
116* -K* 


lft 19 * 
12 ft IK 


17ft 169* 
7V 


1 ft - 

Utl +ta 

IT - 1 * 

1 ft M 

4V. 

U . 1 * 

rift -•* 

17 



1 * ii’-. 

8». 8ft 


Stock Tables Explained 

Sates figures <m unofficial. Yearly highs and tan reflect the previous 52 weeta ptos. tnc cureni 
week l*rtr»niwlatesT*Q<ltigdoy.Wh«easijStx5»cdidwyti5domouTTthgto25pcfcwtormDre 
has been pakLlhe ynon Ngh-tow iwtje mid (Mderet ore shram far the new stacks only. Unless 
otherwise noted rales of dividends are oimool rfisbursemenls, Dosed on the Btesl dedoraSoa 
a - dividend also extra (s). b- annual rhb of dvidend plus stock dividend e ■ liquidating 
dividend cc ■ P£ exceeds 99 .dd - caflM. d - new yearly taw. dd ■ loss In the lostlS months, 
e- (Evident) declared or paid in preceding 12 morrtta. f - annual rale, increased on Iasi 
deda ration. 9 -dividend in Canadian funds, subject to ip* non-res Mena fan l- divtOand 
deck) red offer spilt -up or stock fi vtaend j- dividend paid this year, omitted deferred or no 
aatan taken a) latest tfivfefeftd mwrting. k - dividend dedored w paid lifts year, on 
ocaimutalire issue ntth divideflifc m orrearvm - annual rate, reduced or km declaration, 
n - new ssue In Ihc post 52 weeks. The high-low range begins wiBi the start of trading, 
ltd - next day deflvery. p- inakri dhridend, annual rate unknown, P/E - price-earnings ratio. 
q-OBedrend mutual fimd. r- dividend declared oc paid hi preceding 1 2 months, plus stock 
dlvMen d.t+ sa ck split Dividend begins with date of spBL sis - soles. l-tfivWend poid in 
stock in preceding 12 months, estimated Cash value on a -dividend orcjMfistribiition dole, 
u -newyearty high, v - trading hdlted. Vi - m bankiuptqrorreceivenlilp or being reorganized 
urHtarttteBanknjpfcv Ad, or sec/nhes assumed bysucli companies. wd-urtrendistribmetL 
Wi - when issued/ ww - with warrants, x - ex-dhridend or ex-tights, nss - ex-distribution, 
xw ■ without warrants, y- ac-dhridend and soles in foil yfd • yield, z - sales in fuO. 


Sep 97 

1887 

r 1883 

1670 


1705 

1075 

1158V 

Mar 98 

1759 

170+ 

in? 

May 98 

1749 

1730 

ins 

JUI98 

1761 

17S2 

1752 

Sep 98 



1771 


10 YR TREASURY (CBOTl 

SlttoiMlO prin- vn A 32nds al 100 pci 

Sep *7 109-13 I 094JJ 109-05 -03 177.710 

Dec 97 109-92 108-24 1 08-25 . 03 225,952 

Mrr98 108 18 108 14 108-14 - 03 1736 

Eu sdnNA Ito*, sates 91742 

Tues DPMI WI +07.398. HI 8021 


3-MONTH STL RUNG (UFFE) 

C50a000 ■ ph of )00 pti 

Scf S 7 ? !t- 7J +001 102.060 

R**- -OHI32.799 

^ 92J8 -OOS low 

Jun 98 91M 9358 v?62 -0 05 71601 

Sop 98 9J 70 9? 66 9169 *0.04 57.719 

DeC 9fl 9280 927S 93 79 . 0 05 51152 

Esi. sales. 79,64 1 Pray yj/« 91.051 
Prey aponmi. r.'l.n; <jp 4 . 0+0 


BRENT OIL (IPEI 

U.S dallait dot barrel - tel', 1 m 

MiZ If AO IBJ4 

SSS 1844 18.49 ^0.06 stwo 

B « ill gfl 3 si: 

® II- !I J 4 WI 

Esi sates. 31000 Prey Mies -n/^ 

Prev open Inf. 158.199 up 543 ^ 


SP COMP INDETUCMER^ 

500 > hnte» 

Marvg 957 65 952 +0 057 S .' 3 ^ 
Esi sates N.A. Tue-s Mies gi. 8+6 
Tinrsaoon ml 207,981, up i-ng 




Esi. rales 5.987 Tues sates J4U 
Tun open ini 107.23+ up 1,333 


COFFEE C (NCSE) 

17-500 In.- CMIft par lb. 

Sep 97 20350 19*50 201 50 +5JS 
Dec 97 10380 18450 189-50 +455 
Mar 98 17135 16750 17050 +160 
May 98 166.85 16200 16500 * 4.15 
16000 15750 159 JO *175 

Esi sales 8243 Tues sates 7,176 
Tuos open M 20734. up 1^68 


US TREASURY BONOS (CBOT) 
i8prr-siO>ioaipi-.A j?na-.6i 100 pti) 

5ep97 113-28 113-11 1IJ.1I - 08 199.607 
Dec 97 113-15 li: » 117.31 -07 259.013 
Mar 08 113-03 117-21 1 17-21 07 31466 
Jun 98 112-05 -07 2JJ9 

E-J. sties NA Tuc-. rates 367^11 
Twt open mi 59eJiU. up tno 

LONG GILT (UFFE) 

E5aooo - ph & 32nds Olioo Dti 
Sep 97 II54JJ 114 79 IIS-03 + 1 >W 574,58 
DCC 97 114-78 114 )5 114-24 + 0 05 115751 
Esi. rales. 61316 Prcv rate-. 91.077 
Pre+ opoflbil 193.400 off +.9K 


3-MONTH EUROMARK (LIFFE1 
DM1 mtllton - pi-, ol 100 pci 

96 47 Unch 270i<39 

CM97 9657 96.57 -001 I.9J6 

Nov?» NT NT 96il —0.01 jkti 

Dec97 9642 96+2 -0 02 285.331 

Mar 96 9A.29 V6’4 16J7 — 002 772641 

Jun* 9607 9« 02 94.ru -0.03 214,197 

Doc 98 9C.SS yjij Vli* _on3 160 SB 

Morw 95 40 95 34 94.38 — 0.07 ITJaSQ 

Esi. SfllCi. 1/6.051 P 11 ;» raps 120.883 
Pmv fljten W. Util 3d on 5:34 


FT5E 160 ILIFFEl 
as om ii*hjv pare 


^P 9 ; M7n0 5017.0 + 99 Cn _ ?(1 

5,z *-5 il0 '-5 50578 -jfl \*! 

Mw9 ® N.T NT 50980 _A« > 


E 11 jdtes. 1 7. 138 P», Mfc,. , 131J 
Pnrv. alien Ini 70566 til 1.339 


CAC 40 (MATIF) 
FF300 per pom| 


SUGAR WORLD 11 (NCSE) 

1 1 2.000 Bis - cores par lb 
Od 97 1168 I1AB 1160 -0 IP 

Mar 98 12.08 12-00 12A2 -0.07 

Moy98 1203 11.97 11.98 -006 

Esi. sales 1 1,596 Tup s stops 2-wSI 
Tun open int Ml 75ft til -BA 


GERMAN GOV. BUND (UFFE) 

OM7SOOOO- pis to 10U pc< 

Sup 97 107 46 107 75 102 JO -0.07 148 70V 

D6C"7 10146 101.36 101.41 -Ota 1+1.204 
Mar 98 100JO 100 50 100i? -005 IK- 
Est. sates- 269.307 Pier rates. 290.067 
Pre» open Int. 296 098 ti* 808 


3-MONTH PI BOR (MATIF) 

FF5 rniBten ■ pi-- of 100 pri 

Cep 97 *6.47 vnU 96 56 -0 01 

Dec?- 9979 ?6 35 Of, 17 _ o.g J 

Mar90 'MJJ 9|,20 96 22 —001 

Jun 98 96 07 9,, 03 Or. fa IM 

Sup 98 *5 WO 9SM7 9588 007 

Dec 98 95 7(1 *S6* *5*8 aoi 

E-iJ. rates 18116 
Open ml.. 248.71U +11 3.894 


E-.l safe 21244. 
Optiimr 69 177 up 1 . 39 ; 


Commodity Indexes 


1 - +00 
! -(Ofl 

44 . 12 / 

1.4V > 

1 ' 

-400 

-260 

.S’ ’ 

-iv 

1 — 4 00 

• 450 

h. 

— __ 

' 

•• : i 

i* 


c .""All 

*P 


1-MONTH EUROURA (UFFE) 
iTLIltolter) pr.nl 1 cord 
Sep 92 9371 Vila 9320 .001 
Oi l? 93+0 91 5+ 93 59 -002 
IVkir9fl 9+01 91 -M «lwj -jjoj 
jun -hi 9+ 37 •« 2i 94 ’8 >0 01 


f.lotidy'i 

Reuler. 

D J. Futures 
CPB 


Previeuj 

j ' lu 

’•'» .'Ci ' 

151 i, 




■ 




r 

L-J.-1 

> 


I 


>y\ (M X.&& 


PAGE 3' 


Chi 


'HQ 


INTERNATIONAL HERALD TRIBUNE, T HURSDAy, SEPTEMBE R 4, 1997 

EUROPE 


PAGE 13 


_ MJi 

* man Carmakers Ride Exp orts Into a ‘Golden Age 

Rv Tr>Kn ■ , 


*222 ^^^,, ^"iv are 

FRANKFURT Th» home market. New-carr«w 

gloomy times for me Ge^ecoJf j" Germany declined almotiT S- 
omy: Unemployment is S ?^ cenl “ d* first seven months othte 


topher Will, analyst at Lehman percent to 435 million DM while net tack its high cost base. 

Brothers in London. profit at the Volkswagen group leapt Today,” VW’s factories remain 

The automotive recovery is par- 73 percent to 488 million DM. awkwaixlly overstaffed but costs are 


ny-s increasingly ™ bresSJ^ 

mobile industry, which is actuX A “ f0moblIe Association, 

adding workers after having cm oi£ trade group. The 

mseven jobs since 1993ashexram ako found industrj- 

lts way to profitability ^ Wlde employment climbed 0 5 per- 
-Although the German unempi 0V - Ma y- &t 

meat rate was 1 1 s nerrent ;« r. r mcrease since 1991. 

Volkswagen AG foTthe first rime f«^V Um n° Und in Ae industry's 
has canceled its traditional summer a Deulsche mark 

Ajfectoiy tolidays, keeping plants Sfcem ,n Vih E by aboui ‘‘ 5 
▼open m August to raeei HfVm^ E”?® m , thls . year when measured 
rather than idle them for annual do,lar Tl ? e weaker mark 

monthlong vacations. Similarly tn n ^ dded a com Peutiv e advantage 
Porsche AG is operating at capacity cars C I 0I> 0 German 

atyits Stuttgart works and has con th^hTrd ‘ nduStry ^ has ,ea ™ed 
tracted extra assembly-Une^Ce t0 mana § e costs * ‘We 

in Finland and Mexico. j^ e heading into a golden age for 


The automotive recovery is par- 73 percent to 488 million una. 
ticular to Germany. Rival auto- Their success, to be showcased 
makers in France and Italy, which along with new models at the Frank- 
historicaUy do not export to such key furl Auto Show this month, iilus- 
markets as the United Stales and Ja- trates the overhaul under way. 
pan, are having a much harder rime. ‘’The Germans really do stand 
The German carmakers have out,” Mr. Lawson said. “The Ger- 
been able to score their g ains in spite mans got one bell of a ftigbt in 1 993 
of the fact that their autoworkers and had a sense of crisis and got the 
remain the highest-paid in the restructuring done.*' 
world, corporate taxes are steep and German manufacturing has 
regulations unwieldy. Based on moved ahead by cutting costs, 
market share, production, earnings streamli ning production and raod- 
and sales, the Germans measurably emizing management, often with 
have managed to move to the front methods that would be difficult to 
of the European pack. duplicate outside Germany ’squirky 

BMW, Daimler-Benz, Porsche, social-market economy, said Mi- 
Volkswagen and Volkswagen’s chael Klein, analyst in Frankfurt at 
Audi AG subsidiary have all report- Delbrueck &. Co. 
ed increases in sales, production and The best example is VW, which 


against the dollar. The weaker mark 
has added a competitive advamaae 
to a bumper crop of flashy German 
care and an industry that has learned 
the hard way to manage costs. * ‘We 
are heading into a golden age for 
uerman carmakers," said Chris- 


duplicate outside Germany ’s quirky 
social-market economy, said Mi- 
chael Klein, analyst in Frankfurt at 
Delbrueck & Co. 

The best example is VW, which 


w Ml pu.Min.UUU dllU A lie UVJL CAOIlipil. w * niuui 

earnings in the first six months of avoided mass layoffs in 1993 by 
1997. Daimler’s half-year operating inventing a four-day work week. 

.1 J 1.1 I , nc m:.i . . i : .J.-CF 


profit more than doubled to 1.85 
billion Deutsche marks ($1 billion); 


Without reducing staff, as Daimler 
did by the thousands, few expected 


BMW’s six-month net profit rose 30 the Wolfsburg-based company to at- 


Casino Makes Its Own Takeovers Tension at Air France 


^ * s> Labor 


7A-. ’ 


CfWfiMfrr Che Staff F ««, Oapokhn 

PARIS — Casino Guichard-Per- 
rachon SA announced two super- 
market acquisitions and a 39 percent 
rise in first-half profit on Wednes- 
day. Both developments could force 
Promodes SA to raise its hostile 19 
m billion-franc takeover bid for 
" Casino. 

'Casino said it has become 
France’s second-biggesr supermar- 
ket operator, behind Carrcfour SA. 
with the purchase of discount food 
retailers Franprix and Leader Price. 
Ir paid privately-held TLC Beatrice 


Internationa/ Holdings of the United 
States 2.8 billion French francs 
($459 million) for the chains. 

Promodes wants to buy Casino 
and Ra /lye SA. which owns 33.2 
percent of Casino, in what would be 
France's biggest-ever retail acqui- 
sition. Some analysis said Casino’s 
addition of the new units would 
force Promodes to sweeten its bid. 

"Promodes will have to pay a 
higher price — they desperately 
want the business.” said Frederick 
George at Paribas Capital Markets. 
‘‘Promodes was itself interested in 


Franprix and Leader Price.” 

But Promodes said it was still 
confident its bid for Casino would 
succeed despite the rejection of its 
initial offer. 

Promodes shares fell 49 francs to 
close at 2.206. down 2.17 percent 
Casino shares have been suspended 
since Monday and last traded at 302 
francs Friday. Promodes offered 
340 francs a share for Casino. 

Casino also said its first-half 
profit rose to 409 million francs 
from 294 million a year ago. 

f Bloomberg, Reuters ) 


Chief Vows to Quit Unless Sale Proceeds 


Gold Fields Weighs Big Jobs Cuts 


B (cumber g News 

•• - JOHANNESBURG — Gold Fields of South Africa. 

Ltd., the world's third-iargest gold producer, said 
Wednesday its Leeudoom mine might e liminat e as 
- : many as 2.800 jobs, or 4 1 percent of its work force, to 

try to restore profits. 

Leeudoom has been losing about 10 million rand ($2 
» million) a month. The mine employs about 6,800 work- 
0^ ers. South African gold producers' profits have been 
squeezed by a weak gold price, rising costs and aging 
reserves. 

Gold Fields signaled that job cuts at Leeudoom were 
possible when it released an 18.6 percent drop in fiscal 


fourth -quarter earnings for its gold mines in July. Gold 
Fields said it was in formal tafics with employees and 
unions on shrinking gold operations at Leeudoom, 
which is pan of Kloof Gold Mining Co., a unit of Gold 
Fields. 

"Leeudoom has been sustaining losses for a con- 
siderable period, and the management has been eval- 
uating various alternative plans to minimize the short- 
term losses and then to restore the operation to prof- 
itability.’ ' the company said in a statement. The options 
examined include closure, care and maintenance, de- 
velopment only, or a lower tonnage milled with con- 
tinuing development. 


CvmfsInlhyOurSufFrvm Dbpcacbn 

PARIS — Christian Blanc, the 
chairman of Air France, said 
Wednesday that if the French gov- 
ernment persisted with its refusal 
to sell its majority stake in the 
airline, it would be tantamount to 
"breach of contract” and would 
probably drive him to quit. 

Mr. Blanc has demanded that 
the government present a plan for 
the national carrier’s sale to in- 
vestors at a board meeting sched- 
uled for Sept. 12. 

Although Mr. Blanc has long 
made clear his desire to see Air 
France sold off, the chairman's 
strongly worded interview means 
he was throwing down the gaunt- 
let just a day after Transportation 
Minister Jean-CIaude Gayssot re- 
iterated his unwillingness to sell a 
majority stake in Air France. 

Mr. Gayssot said Tuesday that 
Air France would not be privatized 
while he is minister, but added that 
he favors closer alliances between 
the airline and other carriers. 

The state has made a “radical 
change in direction” on the ques- 
tion of selling Air France, Mr. 


Blanc said Wednesday. The 
chairman said that if the state in- 
tended to maintain control of the 
carrier, "it will need management 
that believes in this strategy.” 
That is clearly not Mr. Blanc. 

The chairman contends that only 
by making Air France “a normal 
company, that is, a private com- 
pany,” can it forge partnerships 
with other major earners such as 
Delta Air Lines, with which it 
already has marketing links. 

On Wednesday, Delta’s vice 
president for the Atlantic and Pa- 
cific region, Stephan Egli. said 
after a company briefing that the 
airline was concerned that the 
French state's resistance to pri- 
vatization would slow approval 
process for Air France and Delta 
on code-sharing. That practice en- 
ables one airline to sell tickets for 
a partner airline's flights. 

The previous French govern- 
ment had vowed to sell control of 
the airline in 1 998. The Socialists, 
who won power after elections in 
June, had campaigned on prom- 
ises of baiting privatization plans 
in France. (Bloomberg, AFP) 


awkwaixlly overstaffed but costs are 
falling anyway. Threatening to 
move production of new models to 
its low-wage plants in the Czech 
Republic, China, Mexico or Bel- 
gium, VW’s management forced 
unions to squeezeper-car produc- 
tion hours into “efficiency perimet- 
ers.” The new Golf can be produced 
in 20 hours, down from 32 hours for 
the current model. With fewer hours 
per worker, the cost for the stripped- 
down version is 25.700 DM, 360 
DM less than die current model. 

Streamlining operations further, 
the company has reduced to four 
from 10 the number of undercar- 
riages among its four brands; VW, 
Skoda. SEAT and Audi. With only 
four platforms, the company needs 
only four kinds of clutches, whit- 
tling costs and sweetening terms on 
supplier contracts. "That is revo- 
lutionary," Mr. Will said. “It has an 
enormous impact on costs.” 


r. 5 'f; ' '"Pari* 

4500 — -r-- - ^ 5200 ; 3250- - — - 

■ 4200 /V ” SOW JL ■■■; 3100 

3900 -J- — ^ 4800 - 2950 A 

: 3600 - i 4600- pV- ; 2800 - - X 

3300 /- 4400-/ ‘ 2650^^-- 

'ITj’Ta' 8'" ®Vi?Tj A'8 ; MJ'; 


Bftfca jjjrC'-v - 'pat-;;- 

: h- * t 

Amsterdam AEX ..: . 


■ 'Ctdsa- - ■ C to** 




Frankfort -QAX >*. ' S ■ • c 


■38ts#& V4&T? 

• IS&Ar 

Sfedr StockEio^ange. : ' S 58a.f2 ; 

imk V: r '• 

• ^dchot»Av; /sx, 

>teooa>;-; Aix - ■ :: 

— 

zuri<^ 3ft. ■- ‘ . s^24.m; 3j5Q7^.;-Ki.4a 

Source: Telefairs Inumiimal Herald Tribune 

Very briefly: 

•Total SA said first-half net income surged a greater-than- 
expected 51 percent to a record 3.98 billion French francs 
($652.45 million), boosted by higher oil prices, a stronger 
dollar and improved refining margins. Sales rose 19 percent to 
96.33 billion francs. 

• The European Commission said it would open an in- 
vestigation of VESA AG's acquisition of Degussa AG. The 
commission said the two would have a combined share of 
more than 40 percent in several European markets for spe- 
cialty chemicals. In May , VEB A acquired a 36.4 percent stake 
in Degussa, making it Degussa’s biggest shareholder. 

• Lotus Gallois, SNCF state railways boss, said he was 
sticking with a prediction of a 1997 loss limited to 2 billion 
francs, after a 1996 loss of 1 5.2 billion. "The end of the first 
half has not given us any reason to change our expectation.” 
he said. 

• Renault SA Chairman Louis Schweitzer said he did not see 
French or European car markets growing in the years ahead, so 
his company will concentrate on growth in markets outside 
Western Europe and on increasing productivity. In France, he 
predicted 1.75 million cars would be sold this year, down 18 
percent from the 2. 1 3 sold last year, and down 24 percent from 
the record 2.3 million sold in 1990. 

• Schindler Holding AG said it would sell most of its railcar 
unit to Adtranz (Schweiz) AG to concentrate on its main 
elevator and escalator business. Schindler will also buy a 10 
percent stake in Adtranz Schweiz. 

• Asea Brown Boveri AG, the German unit of the Swiss- 
Swedish transportation company, said first-half pretax profit 
was little changed from last year at 54 million Deutsche marks 
($29.4 million) as domestic new orders fell. Sales rose 7 
percent 

• WorldCom Inch’s UUNet Technologies Inc., the world's 
largest Internet service provider, said it acquired NLnet of the 
Netherlands for an undisclosed amount Bloomberg, Reuters 


Netherlands for an 


:losed amount Bloomberg, Reuters 


WORLD STOCK MARKETS 


5CV ' 


SM'-i If 

iSH-' T 


?;v4-7"- ' * 
<-■ ■ - - >. 


Wednesday, Sept. 3 

Prices in focal currencies. 

ntBkws 

High Low C mm Prev- 


Amsterdam 


High Low CIom Prev. 


ABN -AMRO 

Aegon 

MaU 

AUoNobei 

Boon Co. 

flols Wesson 

CSMcra 

DonjfechePer 

D5M 

E Isener 

Forfis Arnev 

Geloxba 

G-Broccw 


HoMuieftscvo 

HunfOouQto 

INC- Grown 
KLM 
KHPBT 
RPN _ 

Nirtrwo 

OceGrinfe-. 

PhiflpsElec 


Rondstod Hdg 
RobeCO 
Roaomco 
Robnco 
Rorwto 
RC«sJ Dutch 
Unflevercvo 
Vendee Inti 
VNU 

Woden Ki evo 

Bangkok s gSSf-|!S 

skssp :s in !5s m 

s™* ^8 “J ^ £ 

jg jig "d 

3lM S 31 JO 
11B 101 104 106 

Bombay 

K* S§ S II 
’j; | 

SWeBklnAJ 29975 289 29075 

a?aas » « 

Braasate 

Afcmrij 1700 1WD 1^5 1^ 

35* il A 

jBt 0 - ^ S 1 

Ef iiii 

ess SSiSS 

vm uy 

gSas l 1 ! 1 !! 

, Copenhagen 

a 

«0 TO » 

357 367 Jw 

nriM-nimmn SBOCB *33000 ft 

FLShtlB 221 jn gj 

gten gJ8 

! &ES 1 ITS I # 
stt. a! a * i* 


4110 4130 
157 158.60 
SiJD 5*80 
331 330.10 
12950 132.40 
3S.10 3100 
95 9440 
11150 11150 
19750 200 

32.60 33.20 
BMt 8950 
64 6*30 
5450 5750 
106 

329.90 32B 

122 12460 
B420 87 

9480 9570 
7150 70 

4SJ0 4SJ0 
73.90 73.10 
4450 63.80 
1 4550 6450 
24850 248 

16150 15460 
11150 112 

83J90 81.10 
19160 190 

6270 6U0 
1 9550 19250 
117^8} 117^40 
112 111 
44250 443 

10370 103-50 
4670 4570 
25M0 250 


CSSSS*" 

rrc 

MatwnoaarTd 
ReSimtttnd 
S&rie SktndD 
StedAuttnaty 
Tata EnqLoco 

Brussels 

BarcoSul 

BBL 

CBR 

Cefeuyt . 

DettuUeLron 

Elect raw 

Etedrofina 

Forth AG 

Gevoetl 

GBL 

GenBanque 

KiwSetoank 

fWfna 

Powerfti 


Frankfurt 


ASouHdg OS * 0 

AOok 134 

BkBedn 4470 
BASF 6S.15 

.ms&sa 

'®SL 7&M 

Berea 40 

«W 1356 

OCAGCddnio 160 
C*a*abaok 46-ffl 
Ondereere 140JO 


% SO 398 

g l jo ag 

DAJfcflE" 

prenot»:4M7J7 
1598 1598 

s -a 

'28 'S3 ^ 

SS fi| gs 

6$ 

n -S S 3 8 

1330 1333 

l^ss JS 
'4 s is 


DwtsdieBank. 11X40 

Detft Tetekan 37.15 

DfesdnerBB* 700 

Fresenfan m 

Freseata Med 131 

Fried- Knjpp 380 

Get* 112 

HdriefcgZmt 145 

Henkel pM (0350 

HEW «6.15 

HocMkrf 8nJ0 

Ho eM 7550 

Kantadt 654 

Lotaneyer 9050 

Lindt 1301 

Lufthansa 34J0 

MAN 502 

Momesnwi 904 

IMabfoeftsebattfhU 

Metro 8833 

Munch Rued R 615 

Pre«M5 509 

RWE 8*50 

SAPpM 424 80 

Severing 18570 

u i& 

VEW SB 

V^S«aiqen 1360 


liijo mis ■ 
36J0 37 

7X70 7X80 
316 317 

129 13050 
368 368 

no 111.90 

143 143J0 
t02 M140 
476.15 476.15 
8*70 8S 

7*50 7X25 
642 650 

88.10 88.10 

1240 1240 

36 36J0 
494 JtS 
890 89950 
MU0 MUO 
8*50 85 

595 603 

485 494 

8350 8*30 
42050 422 

18050 182.10 
24150 742 

11*30 117.10 
1545 1545 
863 863 

434 43750 
101 lffl.15 
574 577 

77050 774 

134513S550 


Helsinki 


Ertsn A 

Hufttomckll 

Kemlro 

Kesko 

Meilla A 

Metro B 

Metw-SerttS 

Neste 

NoktaA 

Orion- YWyroi* 

OutoturmpoA 

UPMKymmene 

VWmet 


Hong Kong 

SifflE. wk 

Cathay Pacific 

gssssss 

Osna Ll*l 
CfflcPodfic 
Doa H»9 Bk 
FtatPoaflc 
Lung I 

Kang Seng Bk 
Hwdenoohw 
HendenociLri 
HKCWnoGas 15-31 
HK Electric 
HKTetamvo 

HS^CHdSS * 
HuteWsOTWh 7050 

SSSm S 3 

S3 

2J0 

MOnuiww »•£ 
SHK Props. 9025 
sihbWW 

Wheekx* 1650 


•S.70 4950 
215 217 

4750 4750 
6850 (950 
2150 2170 
159 161 

4SM 4550 
138 138 10 
441 445-20 
178 17B 

B8.90 BOW 
128 12650 
80 80 


HMflSeeylfflXjg 
Preytacv 1373S33 

770 755 

J650 7750 2580 
1155 1250 12.1| 

8375 85 80^ 

2X60 2145 « 

3630 3950 aS20 
4] 44 4680 

3Z.W 3450 3270 
755 7.« 7.15 

1170 1*40 txg 
9X50 96-25 96-50 
040 9 135 

65 6B 6175 
1*40 1550 1385 
3755 30 2750 

16.10 1650 15^ 
*38 *63 

237 245 730 

67 70 64.75 

23 24 „■£ 

1X20 2040 1X20 
1850 19 T|« 

47 JXE0 4660 
ISO W 
133 7-29 1.17 

8750 8975 8475 
XM HS 7.10 

*■8 *S 5 i 
?£ 


Jakarta 


AstrolBB j 

BUnrilndon 

BfcNegWp 

GudongGacro 

Indoodwit 

Inddoad 

(QCfaatf uu 
SonpomiaHW 
SemaiGrosik . 

THdtalTW^|kBS , 


3?» 2& 
POO 825 

>0“ J25 

22 

37® 

3600 3500 
7100 6B00 

7000 4125 
3225 3000 
3150 


High Low Close Prev- 

SA Breweries 14153 13950 14035 14050 

fenasas 3635 35.75 3675 3575 

Soft 6573 6*25 oiSJ 6375 

SBIC 209 206 209 205 

TigerOah 7135 <975 6935 6975 


Kuala Lumpur 


High Law Ouse Prev. 

Utd U (Biles 656 655 672 653 

Verdaroe Lx ots *62 *50 453 *58 


High Lew (3 cm Prev. 


AMMBHdgs 

Gent ktg 

MatBrsdung 

MdloflShipF 

Petron asGas 

Proton 

PlABcBk 

Raxmg 

Resorts Wtald 

RdBnanPM 

SimeDortnr 

TeWuwiMfll 

TereMo 

UMEns^neen 


London 


Assoc Br Foods 538 

OAA 5*4 

Barotors 14.71 

Bare 840 

BAT Utd 5*0 

BankScattorel *44 

BXjeOicle *08 

BOC Group 10-97 

Boats X03 

BPBM 350 

BrttAerosp 1532 

Brit Airways 6*2 

BG 2.71 

Brt Land . 6 

BrtPten 9.19 

^75 

SrtTefeam *52 

BTR 238 

BunnofiCOsW 10.90 

Burton Gp 133 

CabtWretesi 567 

Cadbury Sch* 602 

Carlton Caron 5.12 

Ceram Ualor 7A5 

CanpossGp 6JH 

CourtauWs 305 

Dixons 659 

Etxtrxonimeats *73 
£M1 Group 555 

ssss s is 

Foro CofcnU 136 

Geiri Accident 979 

GEC *09 

GKN TZS4 

GkusWeflcoroe 1112 

GronodoGp 
GOTKJMei 55B 

GRE 

GreeiXJlsGp 

GUS"*^ 

HsK Hidgs 
iSritoOBCCO 192 


1070 

875 

880 

10.10 

10*0 

9.90 

995 

10-30 

19.10 

18.IQ 

1870 

19 

S15 

480 

486 

5.10 

B-BQ 

875 

875 

810 

8*5 

740 

7*5 

870 

250 

246 

2*2 

279 

370 

*70 

IS 

114 

< 

370 

6 

2370 

2280 

2370 

1370 

680 

6.10 

6.10 

6J0 

9 

325 

840 

880 

030 

7 

7 

870 

1180 

10.10 

1070 

11.70 

4.92 

4*0 

4*0 

478 


FT-SElOfc *77*90 


Prerioaro 49S2JM 

8.71 

842 

8*9 

843 

477 

470 

175 

472 

8.12 

8J3 

803 

803 

677 

670 

<70 

472 

148 

146 

147 

146 

578 

572 

STS 

577 

544 

5*4 

5*0 

5*8 


1430 1*34 
853 855 

538 
439 
355 4 

1073 10.78 
7.95 7.98 


2925 2700 

900 §» 

lnoo 875 
8400 TOT 
3050 

3SD 3400 
<900 6jB5 
7000 

3J2S 29l» 
3150 27® 


Johannesburg 

® 2^50 269-50 

tnJfcADiXlXO 246 4 ?£S 


iratoAtn-CwP S L us W 

3* J [90 797 ^ 

1 i 

Sim dS 1% 
11a »S »» 

Bj as u U 

^ *8 J I 

jehnrieslnoi m 361 382 

UMrtyHdgs ® 744 14*50 win 

UiertyL# 17J0 1730 

LibLjfeSWrf 97.25 97^ j? 

M inOtco 793 19.10 1930 

HsmP* 9325 ^ 4325 

Nedcsx 44 *LS3 

ReroWantfCP a ^ M 

79 7935 7VJU 

ItcsfAP"** ’ 


MS 

Genov 

)ng«Cmi 

imar 

jetmrieslndt 

tSSSr 

Mims'® 

Kenpot- 

SSwjflCP 

Rjdwasrf _ 

n ir t OhlfilltifJl 


LflAdSec 9JB 

Lasmo _ IO 
IMotGentGtp *74 

tSSsTSBG? 

Lucas Wily iOl 
MorioSpeneer 
UEPC 472 

K38? ‘H 

«Jm0 7Jbt 

Norwich Unten 153 

mS"* 

Pearson 

SSffl I 

wssr* 3 

a 0 ® s 

RwtesHdgs WB 
pj/cw« 

Bofc RfffC* 

Bf 8, 1 

Scnrodere _ 
SoitNwrew* 7^ 
ScnlPof**- ^ 

SSSrt 3 
|^ TmnspR nS 

as | 

sand Charier 
Thames WaJw JR 




Uodcfooe 332 XJS 

Vrtdtbreod 8^3 824 

WBamsHOgs 147 X58 

MHsetejr *87 *71 

WPPGflJUO 286 2-55 

Zeneca 1983 1989 


332 3.J8 331 338 

833 834 831 833 

167 X5S 3.65 159 

487 *71 - 482 *71 

286 US 284 285 

1983 1980 1934 1935 


1X16 1*79 
688 630 
148 288 

587 549 

9.13 849 

*47 *46 

133 134 

*07 *02 

233 235 

1077 1072 
131 131 

580 550 
193 587 

584 5 

7M 738 
6 <81 

3.13 113 

684 683 

*72 464 
5.63 539 

*32 *31 

*97 648 

1.72 132 

981 989 

199 *01 

1280 1237 
12.95 1284 

888 X14 

582 
2.80 
*72 *49 

583 534 

*30 *28 

*36 *32 

1989 1933 
1032 1035 
3J9 389 

785 788 

287 282 

P.10 _0LJ« 
283 282 

*71 *88 

782 756 

1.99 137 

*02 681 
*69 *49 

13 33 7337 
271 270 

532 5J1 

887 803 

781 783 

150 351 

230 220 

*46 653 

736 757 

182 182 
779 7JV 
5-28 537 

625 684 

778 775 

387 154 

950 954 

2.91 2.90 

5.77 *3 

127 233 

*25 483 

193 133 
957 983 

1081 1089 
281 285 

588 4 

589 582 
135 389 
435 *34 
1883 1*73 

783 789 

*52 *88 

153 285 

US 850 
*51 *84 

1187 11.13 
184 184 
459 584 
B81 883 

482 *59 

*73 687 

888 883 
*04 457 
*27 *71 

8.13 851 

*80 488 

596 5.92 

353 3 

18.14 17.95 
489 488 

7.16 784 


Madrid 


ACESA 

Aguw Baiteton 

Aroeatoria 

BBV 

Bonesia 

Baafcnhr 

BcoCertroHlsp 

Bco Popular 

B03 Santander 

CEPSA 

OrotlranJE 

CnpMcphe 

Eadaa 

FEC5A 

Gas MaturoJ 

Iberrfcok] 

Prfca 

Rspsot 

SevfcJwElec 

Totxicnfera 

Tetefaroca 

UntooFenasn 

VmencCetaerrt 


Manila 


AwtoLnnd 
B«P6D)p Lsl 
CAP Hornes 
Monflo Elec A 
Metro BonX 
Perion 
PCfBanfc 
Ph4 Lorfl Obt 
SanMJguelB 
SM Prim* Hdg 


Mexico 


A»a A 
BaoocdB 
Cemex CPO 
CBroC 

Emp Modena 
Goa Cano A1 
Gpo F Booetar 
Goa Ha Inburso 
)Omb OarfcMar 
TetavtaoCPO 
TalMttt 


Al i i c e a B A sslc 

Ben Comm rial 

BcnFWsurarn 

BcadRorea 

Benetton 

C«dBcrtofc*o 

Bfison 

ENI 

FW _ . 

GerwofiAsK 

UN 

INA 

Medkad 

Msdtahancn 

Montedison 

09re» 

Pauiwlot- 

PM 

HAS 

Rota Banco 
SPnoto Torino 
TefcaanriaUa 
TIM 


Montreal 

Bee Mob Com 
Cdnlhe A 
Cdnlltn A 
CTBnlStc 
GQZ Metro 
SMWg tLHta 

knasai 

InvctanoGrp 

LobtawCo* 

NoDBAConedo 

Power Cora 

lAnmrRrn 

OoebecwB 

RooenCumB 

RDvatBkCda 


AkerA 

BeraesanDfA 
Qimttanicfe 
DenmsheBjt 
ERsffl 
HoMWtfA 
KsoamrAsa 
Norsk Hvdra 
NarskeStoflA 
Nycoroed A 
Otto Asa A 
PeOnGesSK 
SogcPNknA 
5mbs»d 
TmseceanOfl 
Storebrand Asa 


Accor 9H 

AGF 232 

AirLtouide 960 

Ata^AWh 789 


Botao index: 58737 
Preitans: 5M.12 

5250 25600 25400 
1835 1835 1 855 

5540 5650 5530 
7720 7770 7810 

4110 4130 4100 
1440 1445 1450 

7850 7910 BOM 

5E50 5860 5850 

4720 34900 34500 
4250 4280 4305 

4555 4580 4600 

3055 3100 3135 

8480 8550 8460 

7155 7145 3175 
1100 1180 1215 

6810 6810 6830 

1705 1710 1745 

2825 2855 2920 

6120 6120 6180 
1340 1350 1365 

7990 8000 8040 

4125 4150 4115 

1210 1220 1215 

7810 2820 2815 


PSE MCE 199*12 
PmriooKlJSMl 

1*50 1275 1125 1150 
1675 1*25 1*25 15J0 

104 97 102 90 

430 350 195 4 

70 68 69 6530 

365 332.50 342J0 342JO 
425 *15 *20 4 

186 148 148 148 

345 810 075 790 

54 <9 JO 50 SL50 

*50 *10 *20 *70 


1 index: 4879 JM 
evtans: 478*21 

6150 6220 
23.40 22J0 
3925 392Q 
1*20 1198 
4120 41.90 
57-40 5*00 
353 350 

3350 3250 
3*05 3550 


Ajq-UAP 396 

Bancat re 499 

BIC 46*50 

BMP 283 

CctkjI Ptas 1010 

Carretour 4015 

Casino sum. 

CCF 'Si 

Qtatan 640 

Offtetwjn Dior B75 

CLF-Desde Fran 555 

Oa»A5riasle 1300.10 

Dcmone 932 

EX-Aijiittoine 7*7 

ErtdantaBS B48 

EurotSsney 8A0 

Eunriuwta *95 

Gen-Eaux 719 

Hmas 483 

I metal 844 

Lafarge 425 

124 

Lwsd 2399 

LVMH 1154 

MfchefciB 357 

Parties A 441.90 

Pernod Rtanrd 297.70 

PaifteotCit 728 

PfiMotpPrfnf 37JQ 

Promodes 2280 

Renautl ]63 

Rexel 1780 

Rh-PoutencA 237 

Sanofi 619 

Schneider 337.90 

SEB 956 

SGSThormon 597 

SfaGenemte 787 

Sodexho 2810 

SI Gobcrtn 867 

So«(Qe) »W 

Sue; Lyon boux 678 

i 7 H 

Totat B 644 

Uttnar 111 

iWeo 385 


CAOW 271752 
~Prevtes:29ZT.T5 

941 965 973 

22320 228.10 22*00 

927 944 957 

776 784 775 

392.10 394 39*60 

680 485 684 

453 450.10 457 JO 
27*10 77950 277 

988 1004 1007 
3902 3970 3949 

stop *usp 302 
323*6 32*70 32250 
627 630 627 

84B 853 861 

541 553 54S 

1300 13001382)0 

910 916 920 

716 731 735 

816 834 817 

*50 *60 *60 

*80 6.90 7 

704 711 709 

39150 33710 39750 
835 843 B37 

417 41*70 430.90 
1170 1171 1155 

2331 2346 2346 

1313 1 320 1319 

34B 351 JO 351 
427 JO 431 430.10 
290*0 29*50 29*80 
700 713 703 

2576 3668 3586 

2192 2306 2255 

157 162J0 15590 
1755 1770 1750 

231 23190 23*30 
508 594 625 

327*0 33*60 336 

910 915 900 

571 574 587 

765 767 779 

7731 2753 2755 

845 856 850 

SUSP SUSP 15.10 
660 667 670 

728 73E 746 

16110 166 164 

615 626 632 

10*10 70*90 10PJ0 
375 379*0 381.90 


Sio Paulo *-KSS»S» 


BrndescaPM 
Brahma Pfd 
Canto Pfd 
CESPPfd 
Capet 
Befcobn* 
IWtocmKOPW 


13*80 131-00 
19.13 18*0 


MIB TskSKdteo: 1499SA 
Prettoss; 74631 JO 

15340 14880 14975 14870 
4745 4670 4630 4680 

6240 6050 6050 6100 

1660 162S 1625 1610 

27500 27000 770® 27450 
3635 3575 3580 3605 

8430 8300 6330 8295 

10345 1000S 10050 10065 
5900 5765 5770 5765 

36550 37850 37950 38100 
17700 17100 17440 1M30 
2665 2600 26M 2W0 

5635 SIS ^ OT5 
0115 7940 7985 8000 
12185 11850 I1BSS 11970 
1124 1106 1107 1105 

779 7S0 751 759 

2815 2760 

4800 4700 4710 4725 

15340 148)0 14970 15080 
23200 223S0 22350 22000 
13670 12820 13000 13M0 
11490 11140 11160 11300 
6275 6000 6050 6125 


Pfd 
PoufctaLui 
SdNadOKl 

SouraOnn 

TefebmPM 
Trtemifl 

Teteri 

TetapPfd 
Untaanca 
Ustoitoas PW 
CVROPW 


Seoul 

Oocarn 

Daewoo He«r 
Hyundai Ei^. 
pan Motors 
Korea El Pier 
Korea EWiBk 
LGSemtaxi 
Wpjms 
Sonuung DWoy 
Samsung Elec 
SNnbonBajft 
SK Telecom 


1040 1050 
75*00 74500 
49*5 46*9 
79*1 76J1 

1*DC 15J0 
512.00 489.99 
60000 60*00 
46000 449.00 
36000 38400 
28*99 281 J1 
18600 182J0 
41.50 39*0 
1026 10*0 
14040 132*0 
17099 165.99 
149 JO 145J0 
325J0 moo 
37 JO 37,70 
11 JO 1035 
2*30 26.10 


afc tadw e 6 W . rt 

PmfeaKttSJB 


89000 84000 89000 89000 
7500 7200 7300 7M0 

18600 17900 16000 18300 
12700 12300 12500 12500 
23700 22600 23400 2ZW0 
5280 5000 5000 5300 

37800 35500 37800 35000 
59000 56000 56000 58100 
46500 45300 45600 46000 
71000 69200 69200 71M0 
9000 B700 8700 B890 

495000 479000 479000 488000 


Prevroas: 357197 
ft 5014 50V 5050 

05 2635 2635 Ufa 
3S 37% 3735 3735 
|j» 431* 431* 4340 

85 1*20 1 835 1830 
M 3180 n D 
35 40 40 40 

90 3*60 33.90 3JA 
20 1980 20 20 

90 1770 17M 17J5 

\V> 381* 3M0 3*35 

60 3760 3760 3760 
95 25* K* 2565 

05 10 1005 9JB0 

20 65B5 6*20 65J0 


OBXtodK699.lt 
PrewtteJ 70025 

132 133 134 

198 300 Ml 

S40 2SJ» 2570 

3.90 31.10 31 

138 139i0 137 

45 45 45 

390 391 393 

414 416*0 415 

278 280 2S0 

155 156 155 

535 539 540 

5*0 46*50 473 

162 163 167 

125 127 127 

700 710 710 

L70 49 48.70 


Singapore 

AstaPocB 
CetebosPt 
CSyDevfe 
CydeConioge 9*5 

Ewry Firm tot* (US 

DBSforatan 

DBSLomT 

Fraser* Heave *45 

HKLcnd* 006 

JoidMnfteai" 7*5 

Jsrt Strategic" 1« 

KeppdA 5*0 

Keppd&nfc 112 

KwpriFeto 172 

5 setts* -» 

OSUnian 

Pataeay Hdgs 5X5 

SaDbamna 6J1S 

Slag Air foedgn 1160 

SttfllJBd „ *55 

Stag Press F 21 

SngTedilnd 261 

SbnTdecomin 120 

TafUeBajk 180 

Utt Industrial IBS 

VMOSaaWF 1160 

WtagTaiHdos 3.10 

-rbUXttotan. 


SlrWs Tiroes: 1*20.18 
PiestaK 179624 

5110 555 5.10 

*74 492 4 JO 

&» 9J15 *65 

9.1* 9 JO 9 JO 

0J3 0*4 952 

1120 15*0 ,15 
3*8 362 134 

&U 860 8.75 

2*6 3 2.75 

760 7.90 7*0 

OflJ 3J6 
120 *25 525 

3» 108 3*2 

3*6 3.70 364 

366 192 3*S 

10.10 1020 10 
660 6*5 665 

565 185 130 

5X5 5.90 195 

11 11 1080 
665 *33 IX 

1960 2080 19.10 
125 2J6 2J3 

2JJ5 2M 2.13 

S 8 ”» ffi 

"1 


Stockholm SXUtadez: 23504 

MwHHA 

AGAB 117*0 111 113*0 116 

ABBA 120 115*0 116 HB 


AGAB 117*0 111 113*0 

ABBA 120 115*0 116 UB 

AssIDaman 345 243 245 242 

AriraA 136*0 129 129*0 134 

AttasCfirxsA 260 25*50 257 255 

AuWl»^ 315*0 310 310*0 311*0 


EledrobacB 

Ericsson B 

Hemes B 
tncenttre A 
InvestorB 
MoDoB 
Nonibartken 
Phartn/Uppohn 
5arxMk B 
Santa S 
SCAB 

S-E Bmken A 
StamrtoFas 
aumsknB 
SKFB 

5pcxtxtfitaw A 
StoraA 
S« Ho miles A 
VbhroB 


High Lour dose Pm. 

560 540 541 5S3 

10*0 XU 335 338*0 

325 318 323 315 

739.. 733 738 731 

410 400*0 401 400*0 

285 273 273 279 

253*0 253 253 251*0 

282 274 274 279 

253 246*0 246*0 248 

224*0 719 JO 220 223 

185-50 180 181 184 

88*0 86*0 87 B7J0 

345 325 329 XQ 

326 318 318 323*0 

219*0 213 214 214 

180 176 177*0 177 

136*0 127 127*0 132 

250*0 231 249*0 246 

210 204*0 20450 209 


Sydney 

Amcor 

ANZBWng 

BMP 

Bond 

Brambles Ind. 
CBA 

CCAawtll 
Cotas Myer 
CoowIcd 
C5R 

FatertBiPW 
Goodmw Rd 
ICI Australia 
Lend Loose 
NUMHd® . 
Nd Aus! Bank 

NolMuhKdHdQ 
NemCnp 
Podffc Dunlop 
Pioneer liril 
Pub Broodanl 
RtoTinto 
Si George Bank 
WMC 

WeriwjcBtanfl 

WooludePei 

Woohrorihs 


Jrdtoartet: 2419 JB 
Piwioiis: 2581*0 

*3 860 866 

84 9*7 966 

JH 17 Jl 1666 
L97 199 3.90 

30 27 JO 27J9 
15 1534 14.70 

*5 14 1330 

*4 6*6 465 

.98 7J6 696 

.96 4,98 4.91 

*9 265 2*0 

91 1J8 1.95 

J9t 1261 12*1 

*0 2860 78J1 
*9 1*9 160 

J 9 19J7 1BJ5 
.99 2J5 1.95 

J4 645 630 

*6 3*8 3*7 

*4 4*4 465 

in 86s aot 
.98 a.15 19.90 
8 &05 7.95 

7 7J5 692 

50 7JS3 7.73 
.10 1130 11J4 
.18 4*0 413 


Taioei stocn Monet kdKMcud 

^ PrWfcWs: 921167 

Cathay Ufa Ins 142 138 138 136» 

ChanpHwoB* 105*0 103 104 103 

Chino Tung Bk 8650 64*0 04 82 

China Devekwd 138 124 126*0 121*0 

attto steel 78 on 98 m 9860 98.10 
Href Bank 

Formosa Ptefic <2*0 61 62 61 

HuoNonBk »” ”4«n in 


Nan Ya Ptashcs 
SMn Kong Ufa 
Taiwan Semi 
Tafung 

Utd Mkro Elec 
Utd Worid Chin 


Tokyo 

Aflnornoto . 
All Nippon Air 
Amwnr 
Axahl Bank 
AiahiChera 
AsrtdGtass 
Bk Tokyo MBsu 
BkYekobam 
Bridgestone 
Co non 

OmbuEtoc 
CTiuaoku Elec 
DroSipp Print 
DaW 

DaHchlKang 
DoieroBts* 
Ordrei House 
Dotwa Sec 
DDI 
Denso 

Ead Japan Ry 

Eteal 

Fbiuc 

Fun Bard! 

Full Photo 


HndtiuniBfc 

HBodd 

Honda motor 

tBJ 

IHI 

Itochu 

Ito-Yotaxto 

JAL 

Japan Tobacco 

JlSCO 

Kofcno 

KansalElec 

Kao 

KowasaUHvy 
KamStael 
KHdMppRy 
Kkta Brewery 
Kobe Sled 
Kaaoteu 
Bteb 
Kyocera 

Monibcfu 

Monti 

Matsu Cam 

Matsu Elec tod 

Matso ElecWV 

MhitalsJii 

MfelftiStfOi 

MftsubisMEI 

MftsubWiiEsI 


Ml&ublsMTr 

MftsU 


138 138 

103 104 

64*0 86 

124 126*0 
28 JO 2860 
105 106 

41 62 

113 11650 
55 55*0 
72*0 73 

86*0 87 

153 157 

46 46J0 
119 123 

63*0 63*0 


MM 225: 18735.17 
Pterion: 18232*3 

1110 1130 1140 

701 705 704 

3300 3390 3290 

855 840 

633 S34 

... 9Z7 919 

2140 2180 2130 

— 516 514 

2750 

3430 

2010 2020 2020 

1960 1960 1960 

2530 2570 35X 

781 7E3 615 

1390 1420 1390 

602 628 595 

1380 1400 1380 

777 7B2 777 

6350a 6130a 
2720 2660 
5480a 5540a 5380a 

2240 2270 2230 

4W0 4990 4780 

1450 1480 1440 

4680 4840 4U0 

1450 1470 1390 

1150 1170 1150 

1110 1140 1080 

3750 3830 3670 

1420 1650 1610 

361 366 365 

OS 498 490 

6330 6400 £360 

491 499 500 

9190a 9230a 9250a 

3030 3050 3020 

636 646 647 

2230 2360 3240 

1700 1740 1690 

455 462 463 

200 282 285 

687 690 688 

990 993 980 

160 142 160 

730 737 720 

483 492 487 

7740 7990 7550 

1990 2000 1980 

575 597 565 

429 433 434 

1920 1940 1910 

4060 41V 4020 

2210 2230 2190 

1280 1290 1280 

1130 1160 1150 

310 322 314 

539 545 523 

1600 1630 1600 

757 760 774 

699 <93 

1720 1660 

987 1030 980 


■yjjg Trib Index pucbs as oi aoo p.m. now Yoik mu. 

Jan 1. 1992- lOO. Level Change % change year to data 

% change 

World Index 172.74 +3.14 +1.85 +15.82 

Regional Indexes 

As&Padtic 120.81 +4.52 +3.89 -2.12 

Europe 183.87 +1.52 +0.83 +14.06 

N. America 207.28 +2.79 +1.36 +28.02 

S. America 162.72 +7.38 +4.75 +42-20 

Industrial Indezas 

Capital goods 224.52 +3.35 +1.51 +31.36 

Consumer goods 189.52 +2-20 +1.17 +17.40 

Energy 202.15 +3.43 +1.73 +18.42 

Finance 127.80 +2.70 +216 +9.74 

Miscellaneous 180.00 +6.49 +3.74 + 11-26 

Raw Materials 184.09 +2.82 +1.56 +4.97 

Service 162.07 +3.93 +2.49 +18X12 

Utilises 162.83 +5.84 +3.72 +13.50 

77ie International Herald Triune Worid Stock Index a tracks me U.S. dollar values ol 
SBC ettemancnaBy Investabte stocks bom S5 covnoioa. For mom information, a free 
booklet BantabtebywntingtD The Tnb mdex.181 Avenue Charles de Gaulle. 

92S21 Neufy Certex. France. Compiled by Bloomberg News. 

High Low dose Pm. High Low Close Pm. 

MlsulFudosn 1380 1350 1360 1330 Newbridpe Net 49.40 6JH 

Mitsui Trust 469 545 659 645 Nororatalnc 77*5 2740 

MurataMfg 5300 5300 5300 4800 Norton Energy 35 33*0 3620 33*5 

NEC 1400 1380 1390 1350 Nltero TtfcCom 142-6 140 141*0 1*064 

NlUoSec 21W 21 A) 2170 2070 Nova MJ5 7I4t 11*0 

Nikon 585 57S 57B SA) Onex 31M 31V6 31V4 

Nintendo moo 10800 11 TOO 10700 PunataPeUm „ 26 „ 26 26 

NfppBpress 795 777 790 779 PelroCdo 2520 2i30 2S60 2M0 

Nippon Oil SOB 501 

Nippon Sled 305 
Nissan Malar 
NKK 

Nomura Sec 1600 1560 1600 15« RtaAigom 32<e 32J5 __ 

NTT 1150b II 10b 1140b 1090b Rogera Cartel B 27J0 37*0 27 JO 27*0 

NTT Data 5420b 5320b 53KB 52N» SawnroCO 49J0 49 J9.I5 49 

0»Papet 615 604 610 605 SheOCdoA 2135 22 22H 22*5 

Osaka Gce 290 275 279 273 Suncor 45.80 45 45 45*5 

Ricoh 1770 1720 1750 1700 ToHsmanEny «J5 4*35 46*5 46*5 

Rohm 13600 12900 12500 12600 TeckB 26 25.90 25*0 75.95 

SakuraBk 726 711 715 702 Tetagtobe U* 44 MVr 441* 

Smkyo 3950 3900 3900 3880 Telus 27.95 2780 27.95 2785 

SanwaBank 1540 1480 1530 1470 Thomson 32*0 31 X 32 .10 SIX 

Sanyo Bee 435 422 434 420 TorDomBai* 4305 42*0 42.95 <2Vi 

Secora 8400 0240 8360 8230 TiansaHa 17*5 17*0 1714 1714 

Safari?*? 5740 5560 5700 5550 TromCdo Pipe 26*5 26*0 26V> 26V4 

Sekisul Cbem 1010 9W 998 1000 Triroortfinl 7T» 69 JO TO 67 

Sekfcul House 1190 1150 1180 1140 TtfaecHahn 31*5 3114 31*0 3114 

Seven- Eleven 8910 8570 8910 8570 TVXCoW 7*0 7 7.05 7.15 

Sharp 1190 1160 1180 1(30 WastaoastEny 27 26J0 26.95 2655 

SMkofcu 0Pwr 2020 1970 


Shbnttu 
Ston-rtsuOr 
Stnsddo 

Sony 11300 

SumBoeno 

SuarttomoBk 
Somlt Cheat 
Sumitomo Elec 1 
Senll MaM 
Sumtllrust — . 
Tafcho Phorra 3010 
TakedaChem 3460 
TDK 10300 

TshokuEIPnr 2000 
Tofcal Bank 1040 
TokiaMrxtne 
Tokyo El Par 
Tokyo Electron 7240 
Tokyo Gas m 

TokyuCorp. 

Toaeo 

Tcppan Print 

Toraylnd 
Tustitaa 
Tostom 
Toye Trusl 
Toyota Motor 

HmwmwcW 

KSlOUkrlMO 


1350 1360 

645 659 

5300 5300 

1380 1390 

21AJ 2 WO 
57S 578 

10800 11100 
777 790 

501 508 

299 303 

720 748 

191 192 

1560 1600 

1110b 1140b 
5320b 53KB 
604 610 

275 279 

1720 1750 

12900 12500 
711 715 

3900 3900 

1480 1530 

422 434 

6240 8360 

5560 5700 

980 998 

1150 1180 

8570 8910 

1160 II8Q 
1970 2000 

624 633 

3130 3170 

1990 2010 

1260 1 — 
5900 5 

itOOQ II 300 
956 966 

1710 1730 
459 464 

1790 1820 

284 287 

1200 1220 
7960 3000 

3340 3460 

9810 10100 
1980 2000 

1020 1040 

1380 1410 

2240 2270 

6940 7000 

285 292 

627 <29 

7)3 1160 
1710 1740 

772 794 

677 688 

2470 2400 

989 1000 

3230 3330 

2970 2970 


Newbridge Net 

Nonmdolnc 
Nureen Energy 
Nthem Telecom 
Novo 
Onex 

Pcncdn Pettm 
PefroCdo 
Placer Dame 
Porn Petal 
Potash Sort 
Rmatssanoo 
RlaA/gom 

Rogers Cartel B 

SeognunGo 

SheuCda A 

Suncor _ 

ToHunanEny 

TeckB 

Teleglobe 

Tetus 

Thomson 

TorDanBank 

Tronscfla 

TrowDJo Pipe 

Trimark Finl 

Tttoec Hahn 

TVXCoM 

WaslcoaslEny 

Weston 


67N 6BJ0 
27 AO 2745 
316J 34*0 
MO 141*0 
TIM 11*0 
31W 31 V4 

26 26 
2S30 2560 
22*4 22*0 
m 13*0 

103J5 107 

35.70 3SJ0 
32J5 32.10 
37*0 27-80 
49 49.15 
22 22U 

45 45 

46*5 46*5 
25.90 25-90 
44 44» 

27 JO 27.95 
31X 3110 
42*0 42.95 
17.40 1714 

2640 26Vi 
69 JO 70 

3116 31*0 
7 7.05 

2dJ0 26.95 
96 96 Vi 


Vienna 

PrevtaBs: 1379*4 

Boehte+UDdeft 1029.90 987)008.10 1013 

QKWonstPM 453 <3650 644 6A 

EA -Generali 3190 3071 3083 3110 

EVM 1553 1493 1510 1531 

Rurtwfan Wien 505 492-30 m 49S 

OHV 17931761*5 1770 1760 

OadEWdriz 87? 864 864 868.90 

VA5talW 559 541 541*5 543JO 

VATech 2537*0 2437 2465 2£7 

Wlenerberg Bou 2565 252340 2534 2532 


Wellington 

AlrNZeaU B 
Briefly Invt 
Carter Hoh aid 
FMchCliBldg 
Retch ChEny | 

Ftatch Or Fbref 
Retch Ch Paper 
Urn Nathan 
Teteawi HZ ; 

ffl son Horton t 


Toronto 

AMflbiCom. 
Alberto Energy 
Alain Alum 
Anderson Espl 
BkMartrad 
BkNowScafla 
BartAGoU 
BCE 

KTetectwm 
Btachetn Pham 
BanbanSsB 
Comes 
QBC 
CdnlMRd 
CdnNalRes 

CdnOeddPto 
CdnPadflc 
Camlnco 
Dotaoco 
Domtar 
DonatoeA 
Du Pont Cda A 
EdperSrascan 
EuroNevMng 
Fairfax Fill 
Fatanbridge 
RdcherOnSA 
Franca Newd a 
GdfCdaRa 
Imperial 08 
toco 
iPLL- 
Lohtaw. 
LomemGrom 
MaannBld 
Moron Inti A 
Mcmanex 
Moore 


TSEtodnshriats; <71 W9 
PrsrtMB,- 6673*5 


24*0 24*5 
31U 30h 

50*5 4945 
17*5 17f« 
53M 53 

<ojo saw 

3145 31.10 
*0.15 39.85 
33M 3310 
38K 38*0 
2830 27*0 
*7.70 4640 
3685 3616 
71 6855 
37ta 36 
35* 34*5 
41 U *1*5 
36M 369, 

28.10 27*0 
12 1L70 

31*5 31M 
3JW 33 
2385 2160 

21U nvt 

393 399 

26.10 25*0 

24 23.70 
*3 32V, 

1185 !M 

77.15 74*0 

38.10 37H- 
5080 SOto 

21.15 20*0 

065 42V] 

17*5 17Vi 
9855 91.90 

. UU 11*0 
2830 28 


24 24*0 
31 30*0 
*9*0 49*5 
17V* 1745 
53*0 53 

60.15 6030 
3140 31*5 
40.05 3980 
3155 3345 

23*0 2785 

46.90 47*5 
36*0 36*5 

69M 6885 
3685 36*0 

35.15 m 

*1*5 4114 
36*0 3618 

2B 28 

11.90 1185 

HR ^ 

2370 2370 
21 2045 
390 388 

wm K*5 
24 23.70 
32vt 33 
11*0 11 * 
77.10 77.10 
371* 3785 
50.70 SD-fi 
21 20*5 
*2*0 *380 
17*5 17*0 
9314 92 1 k 

VH4 11*0 

2&20 nx 


Zurich 

ABBB 
AdKCoB 
AhnuiswK 
Ares-SennaB 
AlelR 
BaerK-.__ 
BalateftdoR 
BKVbion 
OboSpecChem 
Qortart R 
CrdSutoseGoR 
EtoUrrmaitB 
ErovOwiK 


UecMaistLBB 
NesMR 
towns R ^ 
Owto&giR 

SR K 


SMHB 
SulzerR 
Swiss Reins R 
S Air Group R 
UBSB 

WnterltwrR^ 

ZuridiAssurR 


| NZ5E40 Mac 247942 
Pmfoas:US2J4 

445 485 440 432 

1J1 189 180 182 

388 380 386 124 

445 441 442 438 

5Jt 5*0 570 5*5 

1.88 784 184 1 80 

120 112 113 no 

387 194 195 192 

785 7.75 780 774 

N.T. N.T. N.T- 11.80 


SPI index: 352441 
Piemw 3S97.15 
910 2235 22*9 
546 551 546 

311 1323 1332 
□90 2430 2500 

BSD 850 849 

!T3S 2148 2105 
1970 3970 *000 
069 1072 1068 
138 14075 M1.7S 
075 1117 1120 
1B2 18*50 1B&25 
535 536 538 

Hffi g <820 683S 
050 4350 *350 
1280 1295 1272 
586 589 5B7 

1814 1836 1822 
000 2225 21 9r, 
1» 192*0 IBS 
1776 1790 1775 
879 894 B95 

1981 1996 1977 
325 33050 325 

S135 13180 13130 
2*0 363*0 366 

1900 1905 1900 
1740 2740 2300 
875 889 884 

1083 1092 1095 
1050 2061 2055 
1009 1820 1829 
1510 1518 1517 
1325 1342 1357 
571 583 575 


T 


PAGE 14 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 199/ 


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PAGE 3 


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Currencies 
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• As S&P Cuts 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4. 1997 

A ST A/PACIFIC 


PAGE 15 


Market Analysts Come Under Attack 


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Thai Rating 

» CmpMbrOirSKtfFivmthsjuttln 

-SINGAPORE — Southeasi Asian 
currencies, led by the Thai baht, 
plunged to record lows against the 
dollar Wednesday as the region’s 
monetary crisis began its third month 
with the bottom far from view. 

.Traders -said the central Bank of 
Thailand bad intervened when the 
dollar rose above 37 baht in domestic 
jjtrading after Standard & Poor’s 
- Corp. downgraded Bangkok's long- 
term foreign currency rating from 
“A” to “A -minus” in another sign 
of flagging confidence in Thailand' s 
economic outlook. 

The New York-based credit-rat- 
ing agency's move will affect about 
$3.3 billion in foreign currency 
debt, dealing a further blow to the 
struggling economy. 

'A lack of confidence in the Asian 
region as a whole in the wake of the 
Thai crisis continues to be the main 
driving factor and a strengthening 
dollar has not helped matters, ana- 
lysts said Wednesday. 

'Analysts also said there was Little 
Asian governments and central 
banks could do to contain the sell- 
off in regional currencies. 

- “The danger with intervention or 
^ very tough rhetoric,*’ said Chan 

‘ Chia Lin, head of economic research 
at ABN-Amro Bank, “is you in- 
crease the chance of market players 
trying to test the limits. I believe the 
best thin g would be to let what's 
going on nm its course." 

- The dollar rose to 34.50 baht from 

34.15 on Tuesday and to 2.9353 
Malaysian ringgit from 2.9055. But 
it slipped to 30.22 Philippine pesos 
from 30.30. (AFP, Reuters} 

■ Thai Firm to Mias Payment 

Finance One PCL, a lender the 
government ordered closed in March 
due to insolvency, said it would be 
nhable to meet the 45 million baht 
lSl-3 million) interest payment on a 
bond due Sept. 15. Bloomberg News 
reported from Bangkok. 

The company,, the largest non- 
• bank finance company in Thailand 
at the time it was shut down, said the 
payment could not be made due to 
the closure order by the Bank of 
Thailand and Finance Ministry. The 
order prevents distribution of assets, 
the company said. Finance One is 
just the latest in a growing number 
of borrowers to miss payments. 


By Alec D.B. McCabe 

BiwitilrtTK iVcirx 

HONG KONG — As stocks, bonds and 
currencies tumble across Asia, governments 
are increasingly trying to gag market analysis, 
saying these number-crunchers, not policy- 
makers, are to blame for the meltdown. 

Thailand. Malaysia and now Taiwan have 
all pointed fingers’ at foreign securities firms. 
From Bangkok to Taipei, analysts say they are 
increasingly reluctant to speak out. 

“International investors had better watch 
out," said Manuel Pangilinan. the managing 
director of First Pacific Co. Ltd., a Hong 
Kong-based property and telecommunications 
company whose businesses spun Asia. The 
region’s governments “will have no incentive 
to be friendly toward investors who have 
proved so fickle." 

Many investors already doubt Southeast 
Asia's ability to steer its economies through a 
shift toward floating exchange rates. Weak- 
enings currencies and rising interest rates 
threaten to throttle growth across the region. 

Major indexes in the Philippines, Thailand 
and Malaysia are down almost 40 percent this 
year — not counting currency losses of as 
much as 25 percent for investors based in U.S. 
dollars. 

Senior executives at many firms declined to 


discuss Asian governments’ ire on the record- 
Many analysis said doing so might put then- 

jobs at risk. _ . , . 

Yet, ihey are in good company. Last wee*, 
Alan Greenspan, the chairman of the U.S. 
Federal Reserve Board, said Thailand s eco- 
nomic troubles — slowing growth and mount- 
ing debt among them — only showed that 
Transparency was just “too low." 

On Wednesday. Taiwan’s sec urines reg- 
ulators said they may investigate Pete r Kurz, 

NEWS ANALYSIS 

the head of research at Merrill Lynch & Co. in 
Taipei and one of Taiwan’s best-known for- 
eign analysis, for "speculation." 

[In Kuala Lumpur, the Malaysian police 
warned that they may use a powerful Internal 
Security Act against local traders helping for- 
eign speculators depress the market, Agence 
France-Presse reported.] 

Mr. Kurz’ s alleged crime? A recent forecast 
that stocks were about to slide by as much as 10 
percent as President Lee Tung-hui headed into 
a parry congress without a clear majority. 
Stocks dropped 1 0 percent in a week. 

Prime Minister Mahathir bin Mohamad of 
Malaysia has been hurling insults at foreign 
investors such as George Soros. They are 
entirely to blame, Mr. Mahathir says, for a 


tumble of more than 20 percent in a month in 
Kuala Lumpur's benchmark index. 

Thai police raided the Bangkok offices of 
ABN-AMRO Bank NV and Nomura Secu- 
rities Co. in mid-July, searching for the source 
of rumors that the government was poised to 
close five commercial banks. The police came 
away empty-handed. 

Thailand's central bank assailed Credit Ly- 
onnais (Asia) Ltd. in mid- June for publishing 
what it called an “absurd and irresponsible" 
research report that downgraded the naiiou's 
rate of economic growth. 

Two weeks later, Thailand conceded that 
the baht was overvalued and allowed it to float 
against the U.S. dollar. The Thai currency lost 
more than a third of its value since. 

Thailand now concedes that economic 
growth won’t surpass 4 percent this year — the 
slowest since the 1960s. Bangkok’s bench- 
mark stock index, down more than 50 percent 
so far this year, is headed for a second year as 
the world's worst-performing market. 

The rough edges of Asia's fledgling capital 
markets have never been more apparent. 

“In a bull market, people don’t ask the tough 
questions," said Rosa Wang, a fixed-income 
mod manager at Peregrine Fixed Income, which 
mana ges about $300 million in Asian bonds. 
“Now that we’re in a bear market, people are 
saying, ‘Let’s look at all the problems.’ ’ 


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^ ^ ^ ■ 

Very brief ys 

• japan's top banks will stagger announcements of their next 
midyear earnings over several days, instead of just two, in a 
bid to improve disclosure, banking sources said. 

• KDD Co. plans to sue the Federal Communications Com- 
mission in U.S. courts over the regulator's proposal to force 
foreign phone companies, including the top Japanese inter- 
national telecommunications provider, to cut connection rates. 

• Toyota Motor Corp. pushed out Nippon Telegraph & 
Telephone Corp. as the top earner among Japanese companies 
in the year ended March, while banks, still burdened by huge 
bad loans, disappeared from the top 50 positions, according to 
data compiled by the National Tax Ad minis nation. 

• Indonesia is dropping its 49 percent limit on forei^i pur- 
chases of shares at initial public offerings. But the finance 
minister did nor say when the ceiling would be lifted 

• Thai Oil Co. said it expected to post a 10 billion baht 
($292.8 million) foreign exchange loss for the year ending 
September as the decline in the value of the baht raised the cost 
of servicing the company’s by $1.5 billion foreign debt 

• The Philippines is likely to exit international Monetary 

Fund supervision in October despite a slowdown in economic 
growth and the effects of the Southeast Asian currency crisis, 
the government said. Reuters. AF. AFP. AFX 

Packer Ends Pursuit of Fairfax 

ibtlh Oil’ •tuphil’i PitlV* «i> 

SYDNEY — The media magnate Kerry Packer abandoned 
on Wednesday his pursuit of one of Australia's oldest news- 
paper empires, John Fairfax Holdings Ltd., saying it was no 

longer practical to pursue the takeover. - 

The government dropped on Monday a planned revision or 
cross-media rules that would have cleared the way for a 
takeover of Fairfax. Shares of Mr Packer s Publishing & 
Broadcasting Ltd. rose 8 percent, to 8.65 Australian dollars 
J ($6.30) . after the announcement on Wednesday. (Ar. Atn 




Kirin to Close Plants and Cut Costs 

Brewer Hopes Moves Counter Gains of Competitor Asahi 


Ccvfiled 6y Our SuffFnmi Oupukhn 

TOKYO — Kirin Brewery Co.. Japan’s largest beer 
company, said Wednesday it would close three of its 1 5 
plants in Japan to improve efficiency and cut costs. 

The move, which Kirin expects to shave costs by 30 
billion yen ($248.8 million) by the end of 2000, comes 
as the country’s oldest brewer struggles to regain 
market share lost to rival Asahi Breweries Ltd. 

Asahi has cornered 34 percent of the Japanese beer 
market since its 1987 launch of Super Dry. Japan's best- 
selling beer. Meanwhile, 90-year-old Kirin has seen its 
share shrink to 44 percent from more than 60 percent in 
the mid-1980s. 

“We have never done such a big structural change m 
our history,” said Yasuhiro Sato, Kirin president * 'We 
have- to do it when the company has physical 

strength." , . . . 

Kinn also said it will respond to the competition by 
entering the low-malt beer market, a popular style of 
beer in Japan that is made with less malted barley. “We 
need to introduce something new because Japan s> beer 
market will grow only i percent toward 2000. Mr. 
Sato said. 

Kirin said it was targeting full-year current, orpretax . 
profit to nearly double to 95 billion yen by 2000. from 
the 50 billion yen it expects to report for this year. 

In addition, the brewerv will eliminate some jobs. 
“We will cut costs by 30 billion yen and reduce the 
number of employees to below 8.000. said Kinn. 


which had 8,380 workers at the end of 1996. 

Still, some analysts say Kirin's profit forecast is too 
optimistic. Masaaki Yamaguchi, an analyst at Nomura 
Securities Co., said he expected Kirin’s current profit to 
be 41 billion yen in 2000 while sales will fall to 1.2 
trillion yen. Kirin forecasts sales of 1.27 trillion yen for 
1997 and 1.4 trillion yen in 2000. 

“1 was disappointed by the plan” to close the 
plants." said Mr. Yamaguchi. “It lacks the details. Is it 
enough to close just three? Why not five? This strategy 
is questionable." 

The closure of the plants next year in Tokyo and 
Hiroshima and in Kyoto in 1999 will cut production 
capacity by 300,000 kiloliters to 3.35 million kilo- 

ll *Kjrin will remodel two existing plants inToride and 
Okayana. both in western Japan, to make up for the lost 
capacity, said Mr. Sato. Kirin may also sell some of the 

three factories' blocks of land. 

Asahi 's plants are more efficient than Kirin s after it 
invested in automation equipment to boost production 
to meet rising demand for Super Dry, analysts said. 

Kirin last year sold 3.13 million kiloliters of beer, 
about 200,000 kiloliters below its rapacity. Asahi s 
eight breweries churned out 2.09 million kiloliters. 

“Mr. Sato said Kirin would set up a special project 
ream within two months to develop a “next gen- 
eration” beer to fully replace Lager and Ichibanshibon, 
Kirin's top selling brands. f Bloomberg , Reuters 


Wharfs Profit 
Rises 72% as It 
Looks to China 

CmihMM Our Skjfffnwrt Dtxpnrbn 

HONG KONG — Wharf 
(Holdings) Ltd. said Wednes- 
day that net profit rose 72 per- 
cent, to 2.23 billion Hong Kong . 
dollars ($287.8 million), in the 
six months to June from the like 
period last year. 

The conglomerate, whose in- 
terests include property, broad- 
casting and telecommunica- 
tions, posted exceptional gains 
of 900 5 million dollars, mainly 
because of profits on the disposal 
of certain long-term investment 
and investment properties. 

Sales rose 30 percent to 4.76 
billion dollars. 

John Hung, executive direc- 
tor at Wharf, said Modern Ter- 
minals Ltd., the comjiany’s 51 
percent-owned container port 
unit, was in talks with Chinese 
authorities to invest in various 
ports in northern China. 

(AFP, Bloomberg } 


: . Si ■ 

V' • -i. 




tn the Middle of the Asian Storm, Some Investors Bank on India’s Sunny Clime 


t". 


.-'d ■ : 

:-a. ..-S- 


By Eric Bellman 

Btwmherx Ne** 

: MUMBAI — Turmoil in Southeast 
Asia's tiger economies and their stock 
markets is prompting some investors to 
say it may be time to reconsider stocks ot 
the Asian Elephant: India. 

Indian stocks have fallen in me *tam- 
pede to exit Asia, but analysts- sod m- 
vbstors say the plunging currencies and 
economic slowdowns m ^adand, tiie 
Philippines, Indonesia and Malaysia are 

not mirrored in India. .... 

■ "It’s herd instinct that is driving this 
market lower," rather than earnings 
concerns, said Anindya Chatreijee, 

economist at NatWest Seciinnes Ltd- in 

Mumbai. “It is definitely a better buy 


than it was two weeks back. 

India’s main stock index has slipped 
around 15 percent from its peak last 
month. It still outperformed most Asian 
markets this year. And there are many 
reasons it could continue to do that; 
robust profit growth, stock paces that 
are cheap relative to expected earnings 
and a stable currency. 

That has not gone unnoticed. 

Foreisn investment into India has 
slowed since the problems in Southeast 
Asia began, but foreigners continue to 

k Foreign bvestors bought a net SI 38 
million in new shares in August, me 
Securities and Exchange Board of India 
said. They were net buyers of $169-- 
million worth of Indian slocks in July 


and $362.9 million in June. 

Boosted by funds from abroad, the 
benchmark Mumbai Sensitive Indexhas 
risen around 30 percent this year. Only 
China, Taiwan and Sri Lanka have done 

international stocks 

better in Asia. In the same period, mar- 
kets in Thailand, Malaysia and the Phil- 
ippines have fallen more than 25 per- 
cent. - 

To be sure, there are still a lot oi 
barriers to growth and investment in 
India- Analysts say the condition of 
ports, roads and the power snmriy and 
political instability could still derail In- 
dia’s economy. And for the foreign in- 
vestor, the costs, time and paperwork 


needed to buy Indian stocks are dis- 
couraging to many. 

Still, there are reasons Indian stocks 
remain attractive, analysts said. 

India’s rupee has been relatively 
stable against the dollar, slipping only 2 
percent this year. It has not been the 
target of the speculative attacks mat 
echoed across Southeasi Asia. The Thai 
baht has plunged 26 percent this year and 
the Indonesian rupiah 21 percent- 

Granted, it is harder to speculate 
against me rupee. The trading of the 
rupee is limited because, unlike the 
Asian tigers, India does not have capital- 
account convertibility. That restricts the 
amount of rupees traded. Traders need 
government approval if they want to buy 
and sell the currency for investments. 


With most of Southeast Asia’s cur- 
rencies at near-record lows against the 
dollar, central bankers across me region 
have attempted to bolster their money by 
jacking up interest rates. Higher rates 
attract investors to a currency . They also, 
however, eat into corporate profits and 
economic growth by increasing the cost 
of borrowing and servicing existing 

^That has sharply increased the risk of 
investing -in places like Thailand and 
Indonesia. In India, inflation and interest 
rates are at five-year lows. 

India's central bank has lowered its 
key lending rate twice this year and 
eased restrictions on lending, making n 
cheaper for companies to raise money 
and expand. Its federal budget this year 


included tax breaks and more freedom 
for companies. . 

“In the current year, you are looking 
at recovery from last year,’ said Ajay 
Srinivasan, chief investment officer at 
ITC Threadneedle .Asset Management 
Co "The big benefits will come though 
in the second half" of me year ending 
next March. . 

With earnings expected to nse, Indian 
stocks are one of me better deals in Asia, 
priced at around 13 times earnings per 
share, Mr. Srinivasan said. 

Investors said they are attracted to 
Indian consumer product companies 
such as Hindustan Lever Ltd., computer 
software makers such as Infosys Tech- 
nologies and pharmaceutical companies 
such as Ranbaxy Laboratories Ltd. 


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t concise informed yet impartial, the affairs of the world unfold on the pages of the World’s Daily Newspaper. 


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r 


PAGE 18 


Martin Protests. 


golf Miguel Angel Ma rtin sa id 
Wednesday that be had been thrown 
off Europe's Ryder Cup team not 
because he was unfit but because he 
was not a big enough name. 

The Ryder Cup Committee said 
Tuesday a had dropped the Spaniard 
because be refused to take a fitaess 
rest. “It's 100 percent unfair, he 
said. “They can't throw me away 
like that. There is a big difference to 
the sponsors between Tiger Woods 
playing Nick Faldo and Tiger 
Woods playing Miguel Angel Mar- 
tin- Nobody in America or England 
knows Miguel Angel Martin.” 

Martin has not played since July 
1 8 because of a wrist injury. He had 
an operation two weeks ago. 

**I think I will be ready but I am 
a professional,” he said, “and if I 
don't feel well I will withdraw. It’s 
too early to decide now.” 

“I only heard about what had 
happened when an English journa- 
list called me.” he said. “The Ryder 
Cup is important, and the committee 
has to act with principles and pro- 
fessionalism. It has not done that” 
Martin also blamed Seve Balles- 
teros. the team captain. “I don’t 
think Seve has wanted me on this 
team for several months," he said. 

(Reuters) 


IOC Clears Accused Cities 


Olympics Hie International 
Olympic Committee on Wednes- 
day cleared Stockholm and Cape 
Town of wrongdoing in their cam- 
paigns to be host to the 2004 
Olympics. Both had been accused 
of offering minor but questionable 
inducements to IOC voters, who 
will elect a host city Friday. 

“This is a product of a certain 
climate." said Francois Canard, 
the IOC secretary general. "As we 
get close to the vote, there are al- 
ways rumors, plots and insinu- 
ations. It's nothing new. It's a sign 
of the process. ’ ’ f IHT) 


Strickland Charged 


Rod Strickland a point guard for 
the Washington Wizards of the 
NBA, was arrested Wednesday in 
Washington on charges of driving 
under the influence, the police said. 

• Bruce Smith, the Buffalo Bills 
defensive end, was convicted in Vir- 
ginia Beach of drunken driving. A 
police officer had found him asleep 
in his Mercedes and Smith failed a 
sobriety test He received a 30-day 
suspended sentence Tuesday, was 
fined $250 and had his license sus- 
pended for one year. He appealed 
the traffic court conviction. 

• Nate Newton, a Dallas Cow- 

boys offensive lineman, was 
cleared of allegations that be raped 
his former mistress, a woman who, 
his attorneys said, tried to extort 
money from Newton before going 
to police. (AP) 


3 Scots Boycott Match 


soccer Three members of Scot- 
land’s national team said Wednes- 
day that they would not play in 
Saturday’s World Cup qualifying 
match against Belarus because it is 
on the same day as the funeral of 
Diana, Princess of Wales. All three 
play for Glasgow Rangers. 

"Tears have been shed from the 
comer of England to the top of 
Scotland,” said Ally McCoist, a 
veteran striker. "It is only proper to 
pull out and show our respect.” 

Striker Gordon Durie and goal- 
keeper Andy Go ram also said they 
wouldn’t play. (Reuters) 


iNTOwvrma 


Sports 


THURSDAY, SEPTEMBER 4, 1W - 


Mandela Seeks to Bring the Olympic Torch to Africa 




By Ian Thomsen 

International Herald Tribune 


L AUSANNE, Switzerland — Five 
years after South Africa returned 
to the Olympics, and seven years 
after his release from prison. President 
Nelson Mandela is expected to ask the 
International Olympic Committee on 
Friday to award die 2004 Summer 
Olympics to Cape Town. 

No African city has ever formally bid 
to be host to the Olympics, but this 
would not serve as a plea. From Mandela 
it will be a request among equals. He is 
the first African leader to command 
universal respect from the predomin- 
antly white, conservative, upper-class 
members of the IOC. Indeed, he will be 
the most important man in the room. 

He was scheduled to arrive in Laus- 
anne on Thursday and was expected to 
make at least oae short speech Friday 
morning during South Africa’s 55- 
minute presentation to the IOC. Cape 


of h umanitarian and social improve- 
ments that he represents in South Africa. 
The image of an Olympic Torch in Cap 6 
Town burning within sight of 
dela’s former prison on Robben Island 
may be too strong for the Olympic com- 
mittee to ignore. 

“Just before Atlanta was awarded trie 
Games, everybody was very touched by 
Andrew Young and his presentation, 
said Anton Gees ink, a Dutch IOC voter, 
evoking a comparison to Mandela. Gee- 
sink said IOC members vote for dif- 
ferent reasons. Some might support 
Cape Town for the quality of its bid, or 
out of sympathy for Africa, or, “because 
of the head of state.” 


tentious Olympic bid is that seven yearn 
may not be enough. Only recently did 
Mandela lay down his republic’s new 
constitution. The South African truth 
commission is still upturning the grave- 
stones from decades of apartheid rule. 
The people who would profit from the 
massive Olympics building campaign 
would very likely be those who still hold 
the economic power from the days when 
black Africans were deprived of the 
most basic human rights. 

But the Cape Town organizers predict 
a more universal windfall They es tima te 
that the Olympics would create 92,000 
permanent jobs, which in turn would 
allow 92.000 homes to be builLTourism 


impact on the economy, a bigger impact 
on human development,” Ball 331(1 
Wednesday. . . 






ednesday. . . have v&ted officially m 

The gains made by Africans in track IOC roads, housing, hotels;; 


The gains made by Africans in trajA ^^ l car>Nc w roads, housing, 
and field and other sports would only be “ ^cations and virtually all of the 

accelerated by an Olympics held in facilities have ya, 

Africa- Ball predicted *ar ajJ)lyi^uc jfcpc will want to be sw& 




Maybe Mandela needs to win only would necessarily improve, from the 1 


minute presentation to the IUC. Cape 
Town will be preceded onto the stage by 


Stockholm ana followed in the afternoon 
by Athens, Buenos Aires and Rome. 

It is difficult to gauge the effect Man- 
dela might have on an organization that 
seeks to create, through sport, the kind 


10 more votes." he said. 

Geesink, who won a judo gold medal 
at the 1964 Olympics, suggested that his 
vote would go to the city that might best 
serve the athletes. 

In the late afternoon Friday, he and 
106 voting colleagues will cast secret 
ball ots until a majority is achieved. With 
each round the city with the fewest votes 
will be cast out. The winner will have 
seven years to prepare before becoming 
the world’s symbolic capital. 

The fear over South Africa's con- 


By Jennifer Frey 

Washington Post Service 


NEW YORK — Andre Agassi took 
offhis white cap after the second set and 
went back onto the court without it. H is 
stubble-covered head glistened with 
sweat under the night lights at Arthur 
Ashe Stadium. And his eyes glistened 
with the disappointment of a man who 
knew be was in terrible trouble. 

On a stunning day at the U.S. Open. 

Agassi put the final dagger into a t 
tournament that is fast running out of 


U.S. Open Tenni 


major stars. Brilliant in the past few 
rounds, Agassi struggled, stumbled, and 
eventually fell, 6-3, 7-6 (7-4), 4-6, 6-3, 
to Patrick Rafter, the No. 13 seed, the 
day after Pete Sampras was upset, also 
in the fourth round. 

Agassi's defeat came on a day that 
started with No. 2 Monica Seles falling 
to No. 1 1 Irina Spirtea and was punc- 
tuated by an incredible comeback from 
No. 2 Michael Chang, who nearly was 
upset, as well. Chang won 11 of the last 
1 2 ga.es to beat France’s Cedric Pioline, 
6-3. 0-6, 5-7. 7-5, 6-1. 

With Agassi and Sampras gone, 
Chang is the runaway favorite to capture 
the men’s title in a field that includes no 
former U.S. Open champions and only 
one former Grand Slam titlist — Chang, 
who won the French Open in 1989. 

Agassi, who won this tournament in 
1994 as an unseeded entrant, had been 
bidding to do the same this time. When 
Sampras lost Monday, he almost im- 
mediately anointed Agassi the favorite. 

But Rafter — the serve-and-volleying 
Australian who made a surprising semi- 
final showing at this year’s French Open 
— instead advanced to the quarterfinals, 
where he will meet Magnus Larsson of 
Sweden. Chang will play Marcel o Rios, 
the No. 10 seed, who beat Sergi 
B rug u era, the No. 7, in straight sets. 

After a dreadful season that has left 
him with a world ranking of 63d, Agassi 
looked like he was returning to his pre- 
vious form at this tournament. Tuesday 
night, though, he showed all kinds of 
heart and put in all kinds of effort, but 
just couldn’t match that with his per- 
formance on the court. 


Scoreboard 


Major League Standings 


Baltimore 

HwYoit 

Boston 

Taranto 

Detroit 


AJU9KAM IIAOUI 

EAST WVJSJCH* 

W L Pet. 


50 .629 — 
57 581 6" 
72 .482 20 

72 AU 21 

73 Ml 22 


CENTRAL DIVISION 
Cleveland 71 il J30 

Milwaukee 70 17 ill 

Chicago 69 69 500 

Minnesota 57 79 JI9 


ly 56 79 A15 15V 

WEST DfVEKM 

76 62 .551 — 

74 65 .532 2V 

65 73 471 II 

53 65 J64 23 

mnomutiAoui 

EAST WV75U3H 



W 

L 

PCX 

GB 

Attonto 

86 

S3 

-4Z3 



rii r.rffi 
ruXlGU 

82 

55 

.599 

3'A 

New YofV 

75 

62 

JSA7 

10'* 

MontnMl 

49 

68 

-504 

I6M 

PUodetphb 

52 

82 

388 

32 

CENTRAL OTVBKW 



Houston 

70 

68 

J07 



PtoSOuigh 

69 

70 

496 

1'4 

Sl Louis 

64 

74 

.464 

6 

Cincinnati 

£0 

76 

Ml 

9 

Chicago 

96 

S3 

■403 

15)6 

WESTDflftSXM 



Los Angeles 

7B 

61 

361 

_ 

Son Francisco 

76 

62 

551 

IV. 

Cotorado 

70 

70 

500 

8V. 

San Diego 

65 

74 

468 

13 


TWO AY'S UKUCOUS 

INTERLEAGUE 

NewYoffc 000 000 000 -O 3 0 
PMaMpMa ow ooo ljx _s 10 o 
Kn-Rogen, Nelson (83 and GiraRli; 

McGrow ml UeOerttwi. w-^WLQace 2-0. 
L-Kn. Rogers S6. 

Oewtand 010 110 001-4 II 0 

PlttsOargn 011 002 lfe-6 9 0 

Jr. Wright Jacame 17). Plunk IN and 5. 
Alomar. SBva. Peters 17). M. Wilkins (71. 
Loteefle (9) end Os*. Kendall (7). W— Silva 
i-a L— Jr.WngM 5-3. 5*-Lfliselle |2S|. 
HRs— Cleveland T. Fernandez IB- 
Pittsburgh, 0 melon 2 (71 1. 

Demur ooo ooo ooo— o * o 

Atlanta 112 100 oci— s io o 

Keagld Jarvis (21, Duran <6>. Galllard (8) 
and Wotoecte Neogle ana J. Lopez. 
W-Neagle 19-3. L-Keagle 1 J. 


HRs— Atlanta. Lockhart (51. J. Lopez (223. 
Neogle (i). 

Boston 022 010 000— S 7 0 

Montreal 100 400 01X-6 9 3 

Saberhogen Wasdfti (5), Brandenburg (71 
and Hatteberg; Thurman. Bennett (5), 
DeHart (7], Urbina <9t and WMger. 
W— DeHart 1-1. L — Brandenburg 0-2. 
Sv— Urbina (24). HRs— Boston. Jh. Valentin 
(16). M.Vaughn (31). Montreal. H. Rodriguez 
2 Q6), FuUroer (I). 

Kansas CBy 000 000 OOG-4 7 2 

Gndnafl 200 OH 82X— 4 9 0 

Rosado. Carrasco (7). J. Walker (8). Bevfl 
(81 and MLSweeney; Burba Suflhran (6), 
Belinda (7), 5 hew (8) and J. Oliver. 
W— Burba 7-10. L-Rosododll.S*— Show 
(29). HR-Cindnnatl W. Greene (21). 
Minnesota 110 OH 010-3 8 1 

Chicago 023 183 Oto-9 14 I 

Tends Durr, TmJA&er 14), Serafim (7) and 
Stdnbach, O. Mater (7): M.Oork and 
Houston. W— M- dark 11-7. L— Tewksbury 
5-11. HR-CMcogo Soso (321. 

Balflmara 200 OM 000 0-2 9 0 

Florida OH 000 2M 1—3 8 1 

Messina. A. Benitez CS1. Mib (9), 
TeiMaffiMK CIO) and Hatton KJ.Browiv F. 
Heredia (9), Nen (9), K. Miter (iffl. Vasbcrg 
(10) and CJotmsan. W— Vbsberg 1-0. 
L— TeJMathews 3-4. HRs — Baltimore. 
UPafanesn 02). Florida Alov (in. 

Toronto Hi in 102—5 7 1 

NcwYortt 024 Ml 011-8 12 2 

Clemons. Crabtree (7). Escobar (8) and 
OBrica S. Martinez (6); Acevedo, Wendell 
(6) and Hundley. W— Acwedo 2-1. 
L-Cfemns 20-5. Sv-Werxfea (5). 
HRs-Tomnta. Cruz Jr. 2 C3). New Yorfc R. 
Monez (1). 

Ml tn a m k u 000 itt 102— « S 1 

Houston 010 010 000-2 5 1 

DAmlcn. VDtone (6), Do Jones (9) and 
Matheny, Levis (7L Stinnett C9); K He, B. 
Wagner (9) and Eusebio. W— Vittore 1-0. 
L— KMe 17-5. Sv— Dojencs PD- 
HR— Milwaukee, Js.Volenfin (19. 

Chicago 000 OH 010-1 7 0 

SL LOUiS 410 000 18*— 6 11 0 

Navarra. Siratfu (3). J. Darwin (7) and 
Fafaregtn. AreBerm Bau1Esta (8), Beltran 

(9) and Dtteftce. W— AaBenes 10-7. 
L— Havana 9-12. HRs— SI. Louis. McGwire 

(10) . Gonf 2 061. 

Lm Angitos 204 120 120-12 18 0 

TeKOt 200 102 206-13 20 5 

Hornet Ostma (6], Guthrie (7). Han (7), 
RdtftBkY (9). To. Worrell (9), Dreffort (9) and 
Prince D. Other, Moody (9,119. Heredia IB) 
and Lcyrtn. H. Mercedes (9J.VJ—W. Heredia 
1-0. L-Ta.WorreB 2-6. HRs— Los Angdo% 
Prince Ol. Texas. Ju.Gonzaler (33). 

Colorado 102 200 110-7 12 1 

Aoabekn 100 000 100-2 9 2 


Asrada. DeJean (9J, M. Munoz «0) and 
JeJteedt Dlcksoa Hasegawa (4). Coda ret 
(81. Chavez (8) and Encamociaa KreutertB). 
W-Astodo 9-9. L— Dickson 13-7. Sv-AV 
Murtaz (2). HRs-Cotarado. Weiss (3). L. 
Wallier |41L JeJteed (13). Ana. Erstad fli). 


Japanese Leagues 


vmNUSAT'i Hsutn 

cumuuuAom 

Yakulf i Yokohama 1 
Hiroshima 1XCIumkN6 
Hnnrtto 5, Ywnluri 3 

psanuuoui 
Orix IX Nippon Ham 7 
Kintetsu 4 Lotto 3 
Seibu m. Met ppd rain 


Monon BoOegraL Neftiertatute. and Rick 
Leach. U5. (5). del. Brenda Schultz-Mc- 
Carthy, Netherlands, and Luke Jensen, (LS. 
6-16-4. 

WEDNESOArs RESULTS 

WOJHIN'SDOVBUS 

QUARTERFINALS 

Gtgi Fernandez. U4. and Natasha Zvere- 
va Betarus (1). dct. Alexandra Fusai and 
Nothalie Tauziat France (7). 4-6. 6-2. 6-2- 
Nicole Aiendt. UJ. and Morton Bollegrat 
Netherlands Ml. Uet Ruxandra Dragomir, 
Romania and Iva MojoC. Creafta (161.6X3- 
664. 


U^.Opem 


MrKHMJtST BJVIflOH 

Vatendam 1. VRnsse Anthem 1 
STkMNxasi Ajax Amsterdam 9. Feyeno- 

TUESOATS RESULTS MT HTT l' 

min's sfNotifl Twefrte Enschede 7; Rotfa JC Kertuude L 

FOURTH round NEC Nijmegen 4 Gwiinflw 4 Gnwfsdwp 

fhaanasU>raon.Swedm.def.WameFer- Vaillnoiem X VBesse Anthem 6 RKC Woof 
retro. South Africa 61 7-6 (7-57,61 Michael wflk Ai Utrecht X- Vrtendam 2: NAC Breda t, 
Chang CO. U.S. del. Cedric Ptollna France, SpcrrtoRaltentan l- Willem II TSburgaMW 
63.04 5-7,7-161. MoastricW a Fortuna SitTnnl 0. 

Patrick Rafter (13). Austtofia tfef. Andre ITAJJAH CUP 

AgnssLUi. 6-17-6(7 4), 4-6 63. SCCOND ROUHO. RRST LEG 

’£!££££? AC Milan 0 Rogglana 0 

Yevgeny KoMnfttrv, Russia and Daniel 
Vote K Czech Repoblic MJ, del. Jahn-Laffrte 
de Jagerand Rabbte Koenig, South Africa 7- 

X 7-i Jonas B Mutton and NkMas Kuril ■«««««» 

Sweden 0 1). del. Jlrl Nmmk and Datrid RRd, AMERICAN league 

*^16 - n r n L niT^ r — -■ 
dk> {IQ, def. David Adams. Ausfraia and SS^SSSSSl^ 

Wayne Fcneira. South Africa.^ 7-6 (9-^. ^ 0F 

un mni r. i. iinir, 

AMGELES —RCCOlW C H«V 

Irina Spkfea (11). Romania def. Monica )WF Ad am 
String CD. U5- 67 (5-71. 7-6 Cl OB). 61 Wayne Kjity, RHP Mreo Harkoy i 
Verms WDlloms. U.S. def. Sandrinc Tstud Dennis Reyes ham ARrequrewre rt 
Franca 7-i 7-5. Bought contracts of OF Erie Aid 

WOMENS'* SOUSUS Eddte Murray oral INF Pool Kent 

MaATERFmals Albuquenpre-Motred INF Tripp Cit 

Undsay Davenpoa Ui . and Jana Novnt- 15 -dayta 60 -doy disabled list. Sen I 
no. Czech Republic (3). def. Yoyufc BasukL FonvIBe to Chicago WJirie 50* to 
Indonesia and CaraSne Vis. Nettreriands (6j. Aug. 27 trade for OF Dairen Lewis. 

6-1 7-& Martina Hingis, Switzerland, and USUllAU 

Aranas Sanchez Vicorfa Spain (2). det Out. national basketball assoc 

ehtki Marttna. Spabv and Patricia Torabinl FHOEXCC— Signed FGeor^oMcC 

Argentina 4-0. retired. year contract 

MIXlbBOlaUS COLUOI 

QUARTERFINALS ncaa — R ejected retfi Statement 

Uu Raymond ana PaMcV Galbraith, U JS. from MknrtL Fla. WR Jommi Gw 
It 1. def. Elera Ukhavtscvrs Russia, and Jeff was doctored Ineligible test month I 
Taratga U.S. 7-S 61 lor etMcol conduct nictations. 


8 A TO U1 

AMERICAN LEAGUE 

mltimou —Sent RHP Mark Seuver la 
Oakland AfltkUcs to enmptete June 27 bode 


RATIONAL lea out 

LOS amceles -Recoiled C Henry Blonca 
INF Adam Riggs 3B WBton Gueneca DF 
Wayne Kirby, RHP MKo Hotkey and LHP 
Dennis Reyes hum aiboqueiaueiifihePCL. 
Bought contracts of OF Erie AnBtony. 1 B 
Eddto Murray and INF Pool Konerko »ram 
Albuquerque. Matred INF Tripp Cramer from 
15-day to 60-day disabled list. Sent INF Chad 
FanviBe to Chicago White So* to complete 


NATIONAL BASKETBALL ASSOCIATION 
PHOEM ot -Signed F Georgo McCtoud la 1- 
year contract 

ncaa— R ejected retostmemert uctHton 
from MkartL Fla. WR Jorum, German, who 
was doctored Ineligible last month by school 
lor ethical conduct violations. 


million who visited southern Africa last 
year to closer to the 10 million-a-year 
Australia attracts. 

Chris Ball, the chief executive of 
Cape Town’s bid for two years, quotes 
independent predictions of an economic 
impact of SI J billion annuall y for the 
□ext 10 years if the vote goes their way. 
That would easily cover the $100 mil- 
lion loans promised by the government 
over each of the next sevfen years. 

“I can’t conceive of a bid that will 
have a bigger impact on sport, a bigger 


torch relay throughout Africa would 
unify the continent and present its 
beauty and diversity to the world. 

Yet, the doubts over Cape Town’s bid 
tiueaten to engulf its promise. For one 
thing , Mandela is the old father to a very 
young child. How will the new society 
develop without his moral leadership? 

The question itself, phrased in just 
this way, hints at the patronizing eco- 
nomic approach that the white man 
takes toward South Africa. But the fact 
is dial the Olympics is a saintly, myth- 
ical vehicle with a billion-dollar engine 
under the hood. If a country wants the 
Olympics then the attitude of its keepers 
must be accepted. The IOC voters will 
want toundersiand why foreign invest- 
ment has been lacking since the tran- 
sition to the new South African gov- 
ernment They will want assurances that 
the crime problem notorious throughout 
much of the country will not spend over 
the next seven years to Cape Town. 


the steady kind of leader likely to replace 
M The favorite for the election S ^U ap.: 




pears io be Rome, with Athens, Stoct- 

lr*r . — _ T* in fhji TUIY- 


Kokn and Cape Town also in the ruff- 
ninfi. Only Buenos Aires seems ro be our 
of contention, but even that is not cer- 
tain. It might well be, as many voters are 
claiming, that dose to half of fflejOC.- 
delegates will make their decision based 
on the final presentations Friday. The 
dynamic is whether Mandela, the 
biggest star of these pre-Olympic 
games, can effect from his pulpit a belies - 
that South Africa will make good on the-. 
kind of promise that he embodies. It is. 
one thing to respect him from afar. The 


'V- 
>X .. 

•1 lc- f • 

can_ l F;.. . 

if. ‘ 


“A “‘ m . 
T. - 


great leader of our time must now per-_ 
suade the worid to believe with him. . 


iconsiJ--;, ■ 

d Z :: 
nerfcf Sr 
n in - r 


Agassi Comeback Ends 
In Error-Filled Struggle 


Normally a genius at the return game. 
Agassi had trouble even with Rafter's 
second serve early in this match and he 
had trouble with his own serve across 
die board. Clearly frustrated, he fre- 
quently yelled loudly at himself, and 
took to pacing about the court. 

But after dropping the first set and 
getting broken early in the second, 
Agassi staged a fierce rally that roused 
the New York crowd. He saved a set 
point when Rafter was serving at 5-4, 
and had two set points of his own when 
Rafter was serving at 5-6. He couldn't 
convert either, though, and lost a 
tiebreaker that seemed, at the time, to 
break both his spirit and his heart 

Looking subdued and almost com- 
pliant, Agassi quickly went down 4-1 in 
the third set and with the dock fast 
approaching midnight, a substantial 
number of the remaining fans started to 
slip out of their seats. They figured 
Agassi — who has been accused of 
giving up more than a few times in his 
career — was minutes away from the end 
of his tournament. They were wrong. 

This is the U.S. Open. Agassi won 
five straight games to take the set and ran 
off the court for the change-over pump- 
ing his fist and looking energized once 
again. And he kept the crowd’s hopes 
alive in the fourth set by staying on serve 
with Rafter until the eighth game. 

In that game, Agassi managed to win 
only one point on his service, and that 
failure proved fatal. Leading 5-3, Rafter 
double-faulted on his first match point, 
then finished Agassi off with a beautiful 
backhand volley winner. 

Chang put in an effort worthy of the 
prize for which he pines, refusing to fold 
in a match that seemed so certain to end 
with his failure that some fans fell asleep 
in the late-aftemoon heat. After losing 
back-to-back sets, Chang fell behind 5-2 
in tile fourth set before he rediscovered 
his skills. Pioline was in for a shock. 

Chang held serve, then Pioline served 
for the match at 5-3 and Chang broke him 
on his third break-point opportunity. And 
after that, Chang started running Pioline 
all ova- the court The Frenchman — who 
lost to Sampras in this year's Wimbledon 
final and in the 1993 final here — never 
had a match-point opportunity. And he 
hit an easy forehand wide at the net when 
Chang had set point in the fourth. 



Open Victory 
Might Bring 
Spirleajoy 
But No Cash 


rfessi^; . 

Aft* 

821 F 

BineieS; ' ’ ’ 

day" « -f. 
kWQ j »?- - ' 


Andre Agassi leaping to serve to Patrick Rafter. Agassi fell in four sets. 


New York Tunes Service 

NEW. YORK — The promise was: 
made nrthe spring of 1996 on a Florida^ - 
freeway. 

Irina Spirlea, a Romanian tennis : 
player, was traveling by car with hear 
manager, Stefano Lopez, and her neW- 
coach. Max Pace. She was in a playful. 
mood, having just won her first sigr.' 
nificant title ai Amelia Island. 

"We were driving along, and Irina* 
says we're going to make some bets,” • 
Lopez said. "We got talking about Greg- 
Norman and the golfers and how they 
sometimes give half their prize money. 1 
to their caddies. And so we saidto lrinari 
‘Lex 5. do it the golf way.’” : 

. 1 Spirlea decided to go one better than* 
Norman. If she won a- Grand Slam'* ... 
singles title, she vowed she would give* 
all her prize money to Lopez and Pacer- 
Now, Lopez and Pace are flirting with ai .. 
very large payday. - - -v.r 

“I know you think I’m crazy,” Spir-:- 
lea said Tuesday after her 6-7 (5-7), 7-6- 
(10-8), 6-3 upset of Monica Seles in the 
U.S. Open. "If I win here. I’m goingJsr, 
be so happy. I won't need money.”, vt 

"That’s $650,000,” someone said. . -' 
“I’m going to think about it,” .ai 
slightly mischievous expression forair * 
ing on her broad, open countenance. 


A Fast, Flashy Venus in Tennis Shorts 

Washington Post Sen-ice 

N EW YORK — She’s taller than Vantag e Point / MuhablWubon 

just about all the other players. — ■ — — — — i 

She’s definitely faster and from of people, it takes them years to un- unforced errors and nm ™ 


Washington Post Sen-ice 

N EW YORK — She's taller than 
just about all the other players. 
She’s definitely faster and from 
all indications stronger. She’s got the 
fastest serve of any woman at the U.S. 
Open. She's flashier, more outspoken, 
and she wears her hair differently. She 
hits harder than almost anyone, she also 
makes more unforced errors than any- 
one. Oh, and let's not forget that in a 
sport that’s 99 percent white, she’s 
black. Women's tennis really hasn’t 
seen anyone like Venus Williams, the 
1 7-year-old bundle of extremes and dis- 
similarities. And she knows it. 

When the subject of Tiger Woods 
was broached this week. Williams said: 
"He is something different from the 
mainstream golfer. In tennis. I also am. 
I’m tail. I’m black. Everything’s dif- 
ferent about me.” 

Until now, being different and ex- 
treme was more a calling card than 
playing great tennis. That changed 
pretty dramatically Tuesday night, 
when with a 7-5, 7-5 victory over 
Sandrinc Tested of France. Williams 
advanced to the semifinal in her third 
Grand Slam tournament Five matches 
and she has lost only one set. She's the 
first woman to reach the U.S. Open 
semifinal in her debut in the event in 19 
years and the first unseeded semi finalist 
in 21 years. 

Remember, we’re talking about a 
young woman who had won only one 
Grand Slam match — at the French 
Open — before last week. We're talking 
about someone who has never reached 
the semifinals of any tournament. 
Someone who never played the junior 
circuit, hasn’t played college tennis and 
doesn’t have a coach. Her father, 
Richard, who raised her to play in much 
the same way Earl Woods created his 
son Tiger, isn't even here for some rea- 
son Venus doesn’t want to talk about. 

V/hat she's got is huge, imposing 
talent in the rawest form. Fortunately for 
someone with so little experience, she’s 
also a quick study, so quick in fact that 
her game has evolved about two years’ 
worth in 10 days. It's as if she’s teaching 
herself how to play on the fly — during 
a Grand Slam, no less. Williams had 
never played a malch with any change 
of pace "until her third-round match 
against Anke Huber. 

"It used to be that 1 was not quite able 
to understand that I didn't have to go for 
winners,” she said, adding that she bor- 
rowed the new various-speeds approach 
from her younger sister. Serena. "A lot 


S Uts • - . . 

I Sea 4 

mir:xv: 
aker's ter"--- 
ulcs.B - 
ignss*>ir.s 

nd he rules *?;■ ? 

Oncerie!r, , --: i i:.: ;. 
alive or 

cnDS'lunu. •' 

> coaimv 

torumca. ii'-T- ■ 
pure. «ia :• 
ife.“ he '•• . • 
un a family Tr. iV ; ■ 
o retire bei' e: i " : - 
nough men:;. \ . .. 

war and -a^ 
rorid. 

.■ Race* i.-; -..r.- . . 

niliar and .vr.’-T.'.: ... 

« quite as • . 

re in EsLvrs 

lufihina a r. . 

tent earlier ih.. - 

peaking the cJ - - 

1ris-Rouba:\ 

ougfa ai it £i> 

lassie 

"1 dc>n': ~ .■ • • 

■«**." he ccr.- - 

wnpeuuv'i \ 


of people, it takes them years to un- 
derstand. But I’ve been able to under- 
stand more, quicker than a lot of people. 
I never took too much pace off ihe ball. 
It wasn’t part of my game." 

So just like that, she practiced hitting 
slower shots to exact spots loaded with 
spin, and brought the new strategy to 
match play. Why did she add something 
so important literally overnight? “It 
didn’t seem extremely dramatic,” she 
said. 

She slowed her serve down from 1 20 
miles per hour ( 190 kilometers per hour) 
to 100 miles per hour Tuesday night 
because she found out that Testud was 
having more trouble with spin than with 
pace. "I didn’t fed as much pressure to 
hit great shots, hit them on the lines," 
Williams said. "Sometimes just deep, 
well-placed shots, puts pressure on my 
opponent to do something better, and 
that is the game 1 really hadn’t played 
before.” 

Before this latest tinkering, Williams 
was at her best when she was blasting 
away with a power game. The problem 
was. she was sacrificing efficiency for 
power. She even called herself “the 
Unforced Error Kid,” and said: "Usu- 
ally. I’m making all those errors, going 
for shots prematurely. I usually just grab 


unforced errors, and put them in my 

bag” 

Even against Testud, Williams - 
missed shots that a good club player 
would have made. But Williams would 
then drop your jaw by going on a spree in 
which she would rip snots at impossible 
angles at a speed only Steffi Graf arid 
Monica Seles can consistently match. 4 . . 

And when she’s on, she’s got a conV 
fidence that’s, well, reminiscent of De; 
ion Sanders. "I’m kind of like a power 
player, she said. “All power, big 1 
® ervc ' big ground strokes. If I wanted to: 

I could come to the net, which I don’t do u 

often lm pretty fa sl Most people |. 
aren t fast. If you hit a drop shot. I’m * 
going to get it. When you play me. don’t 
hit any drop shots." ■ 


DENNIS THE Vj . 


l>-7 



T S THAT kind of brashness dial 
upsets some of her peers. You don’t 


A usually see In Your Face in women’s 
tennis. Anything beyond "I played well 
today’ ’ is considered brash talk. But the 
public loves her. Quite a few of the' 
women on the tour have another take on 
Venus, however. Lindsav Dawn,w) 
says Venus didn’t return a smile 
dian Wells. Joannette Kruger said VeiSls 

mockingly during onc of 
the change-overs this week “t 

Chanpp what nannU c. * CHU-t 








change what people feel Wim„ 
said. “When I want tnunSi' ..."^lanVL 



said. “When 1 want to smile. I’ll 
I don t want to. I’m not going to Tiw-t 
it s a little bit peevish Sm'ir tilink. 
does that have to do with anvthmg-r- hai 
It has to do with the . ’ 

accompanies being the most hyrSd thai 
kid on the block, that’. 



r T * ww*. mat s what 
faced it. Anna Kournikova 1 6 S r ?^ s 
mg it at every stnn nr, Ca *ch-. 




mg II ai every slop on the tour The „!h 
players mtght have found sonre L“' d 5 


to resent M^ina Hi g s bu'T 
kicking their butts ',! hc s aned 


kiwi Bi irnfllK ' 1 - 1 , 1 X 01 IVs- 

Venus Williams rejoicing after 
bcuting Sandrine Testud. 7-5. 7-5. 


■uo.ing uieir butts before (hi 5141 ™ 

CV ^!-n gUrc oul w bo she was C ° uld 
Williams isn’t at i h:H lev ,, 

probably that’s good. Women • > t ’ and 
has seen far 1oo manv m , en s te nDjs 

sazattajSsw 

won" C ? me in -nta^r^'^e 

won a tournament. yct She hasn’t 
star. Backward as s already , 

(heiess amazing that o^’ if ' s ^ 
j-cems develonim? ^ Cr 0w n she 

game that may soonS f ^>l-arouM 




1 -V 












L 





CPttffPMWBJft AAOflt; 


CAGES' 




11 as a jj %.S. Rider Hop 


HVTERNATrONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 1997 


PAGE 19 


SPORTS 


4 r . 




es 


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_ _ By Samuel Abt 

.• ' - International Herald Tribu ne 

.. PARIS — On the far side 
: ; 0 f 30 since June, Darren 
; ' - Baker is preparing to end his 
'^career as a professional bi- 
..'J .-.'cycle racer, to leave Europe 
.'..and return to the United 
: States and become a busi- 
~ ■ oessman, somebody in finan - 
. -oifll services. Baker, who has 
" Va. degree in finance from the 
• University of Maryland, and 
---[his wife are already looking 
.'for an apartment in San Fran- 
[ cisco, not far from their home 
‘in Santa Rosa, California. 

• “I have more aspirations 
- :C lthan being a bicycle racer un- 

• tfl I can ’t physically do it any 
'more," he says. 

. But first he knows just the 

’ . farewell present he would 
-■ ' /like: “A victory,” he said 
..-..’during the Tour of Holland 
1‘ J.. last week. ‘'That would be a 
-^.iiice way to go, wouldn't it?’ * 
,;-T' A consistently high placer 
Jand occasional winner in 
. '.American races, he has yet to 

- . win in Europe, where lie has 
as an amateur and 

sjanal since 1991. 

- . After riding for the U.S. 

. Postal Service team in the 
"/ 'Tour of Holland, Baker is 
. 7 - jetting ready for the start Sat- 
' '/ ;jrday of the three-week 
"" "Vneita a Espana, the Tour of 
'-'Spain. 

’• : “One last chance," he 

- -aid. .‘Til look for my op- 
’ ’ rarmnity, do my best and 

• -tope." 

• • If not, he continued, it’s 
" ->eenfim. 

- Yes, it has, and fun is im- 
-XHtant to him. The bright and 

• lively Baker is rarely seen 
' * ' viihont a smile, never less so 

.• ~ han during races in the 
' ’ ; Jnited States, where his 
/another, father and wife often 

• • : : v up with one and some- 

- tw0 sma ^ dogs dressed 

• -fty. miniature version of 
. :-3aker’s team jersey. The dog 

: auks, Baker’s parents hold up 
agns saying, “Go, Darren," 
tad he ndes by, beaming. 

_ . Once he leaves Europe, the 
lative of Chambersburg, 

“ * ““ Pennsylvania, is not tempted • 
o continue riding solely in 
■m \ America. “It’s tune to get 

I I wi V going wi* rest of ray 

I I 1 life," he said. “We want to 

start a family. The big goal is 
: to retire before I’m 50 with 
"enough money to buy a sail- 
'-•boat and sail around the 
.. world, 

. “Races in America are fa- 
uiliar and comfortable and 
"/ tot tjuite as difficult as they 
tre m Europe,” he said, 
.aughing at his understate- 
' . nent earlier this year. He was 
•peaking die day before the 

- ^aris-Roubaix race, about as 
ough as it gets in a one-day 

• classic. 

“I don't mind difficult 
" aces,” he continued, “but I 
ike to be at least a little bit 
. • " ®mpetitive. I don’t feel I’m 


very competitive here." He 
blamed an intense spring 
schedule of races and then a 
long layoff. 

"As a professional athlete, 
you want to excel. I speak for 
myself: I want to excel at 
every race. If you can’t do that, 

it lakes away a lot of the fun. 

4 ‘I love racing my bike. It’ s 
the most fun thing in the 
world — you can get om 
there and viciously attack 
guys and not get in trouble. 
And you can win doing it" 

When he turned profes- 
sional in 1993 with the 
Subaru -Montgomery team, a 
lot was expected of Baker be- 
cause he had been so prom- 
ising the previous rwo years 
with the U.S. national amateur 
team. “I was strong," he said. 

Most of the time I was just as 
strong as Lance Armstrong," 
his teammate, "maybe even 
stronger on the climbs. 

“But he was always more 
hungry for the win than I was. 
I envied him. Strong as any- 
thing. But I was, too. I could 
put the hurt on guys, ride 
away from them."" 

Then, early in 1993, after a 
few races in the south of 
France, Baker got sick and 
wound up in a hospital in 
Dortmund, Germany, with 
pneumonia and a chest in- 
fection. 

“I had a high fever for 
about a week, above 105.’ ’ he 
recalled. "I don't know, I 
never really made it back 
after that Some people say I 
was pretty close to dying. ” 

After that week of fever 
and hallucinations, his chest 
filled with so much liquid that 
his left lung collapsed and his 
heart was pushed to the right 
side of his chest cavity. 

“I’m basically dying, 
wasting away," he said talk- 
ing about that rime. 

Showing a scar, he told 
how he finally went into sur- 
gery. “They cut my chest 
open, put seven tubes in to 
drain the liquid bar it had 
coagulated, so they cut my 
side open and scooped two 
and a half liters of junk oul 

"Ever since then, I haven’t 
felt the same. I’ve tad spurts 
where I felt good but I’ve 
never seriously felt that I 
could stomp the way 1 did in 
’92. Every year I get better 
but it’s never going to get 
back to where it was. 

“So I have some regrets. 
My career wasn't what it 
could have been. But what 
can you do? I've seen a lot of 
the world, Tve met some in- 
credible people, it’s been a 
great journey. *’ 

He was hoping to ride the 
Tour de France and end on a 
"bang,” but be was nor se- 
lected for the U.S. Postal Ser- 
vice team. 

* ‘That’s all right,” he said. 
“The Tour of Spain, that’s 
not a bad han d of cards to be 
dealt either.” 



On Scoreboard 
For Wild Card: 

One Big Error 


Mi«Jurl l.wn-Hu* londunl TW 


The Twins’ Marty Cordova bouncing one at the plate against the Cubs. He was tagged out by the catcher 

Mets Retire Toronto’s Clemens Early 

Pitcher Has Better Day at Plate Than on Mound asN.Y. Wins , 8-5 


The Ass'xiaied Press 

Roger Clemens, starting at Shea Sta- 
dium for the first time since he pitched 
for the Boston Red Sox in the Bill Buck- 
ner game in the 1986 World Series, gave 
up as the Toronto Blue Jays lost to the 
New York Mets. 

Clemens (20-51. who leads the majors 
in victories, got on base all three times he 
batted by doubling, walking 

Baseball Roundup 

and reaching on an error. But he lasted 
only six innings on a hot humid evening, 
as the Mets won. S-5, and his American 
League-leading earned run average 
climbed from 1.73 to 1.92. 

"I’d much rather have a better day on 
the mound than at the plate," Clemens 
said. He dropped to 0-3 in interleague 
play. 

Rey Ordonez hit his first homer of the 
season and drove in three runs for the 
Mets. Jose Cruz Jr. homered twice and 
drove in three runs for Toronto. 

Braves 5, Tigers o In Atlanta, Denny 
Neagle pitched a four-hitter for his 19th 
victory and hit his third career homer, as 
the Braves beat Detroit. 

"No. 19 is special," said Neagle ( 19- 
3). “I go deep, go 2-for-3, get a shutout. 
No complaints from me." 

Javy Lopez and Keith Lockhart also 
homered as the Braves won for the 10th 
time in 13 games. The Braves ended a 
seven-game home losing streak against 
AL learns, dating back to their World 
Series-clinching victory over the Clev- 
eland Indians in 1995. 

Canfinais e, white Sex 1 Mark McG- 
wire hit his fourth 500-foot home run of 
the year as Sl Louis beat Chicago. 

McGwire hit a two-run shot off the 
scoreboard in left-center in Sl Louis in 
the first inning. His 44th homer of the 
season was the longest at Busch Stadium 
since the Cardinals began estimating 
distances in 1988. 

"I’ve hit some long ones before, but 
I’ve never hit any like Mark has,” said 
Ron Gant, who homered twice for St 
Louis. "That's just phenomenal. I’ve 
never seen anything like that 


Andy Benes pitched seven strong in- 
nings for the Cardinals. He allowed one 
run and six hits and won his second 
straight start 

MiflUos s, Yankees o In Philadelphia, 
Mike Grace pitched a three-hitter and 
faced the minimum 27 batters. Grace (2- 
0 ), who got his first major-league victory 
in 1 5 months last week, walked none and 
recorded his only strikeout by fanning 
Tim Raines for the final out. 

Pirates 6, Indians 4 In Pittsburgh, 
S ha won Duns ton homered twice in his 
Pirates debut. Dunsron, acquired from 
the Chicago Cubs on Sunday, hit a tying 
solo shot in the second and a go-ahead 
three-run homer in the sixth off rookie 
Jarei WrighL Man Williams extended 
his hitting streak to a career-high 19 
games for Cleveland. 



Riy SmhWdancfltaW* 

Roger Clemens, who had a double 
in three at-bats, sliding to score 
against the Mets at New York. 


Expos 6 , Red Sox sin Montreal, Henry 
Rodriguez's second home run of the 
game, a solo shot in the eighth, snapped 
a tie as the Expos unproved to 1 1-5 in 
interleague play. Rodriguez and rookie 
Brad F ullmer each hit two-run homers in 
the fourth innin g. Fullmer’s pinch-hit 
shot came in his first major league at- 
bat 

(teds 4 , Royals o In Cincinnati, Dave 
Burba pitched five scoreless innings, 
Reggie Sanders doubled in two runs and 
Wtihe Greene hit a two-run homer 3 s the. 
Reds snapped a three-game losing 
streak. 

Pete Rose Jr. pinch hit for Burba in the 
fifth and struck out 

Marlins 3, Orioles 2 In Miami. Edgar 
Renteria singled home the winning run 
with two outs in the 10th as Florida 
banded Baltimore its fourth straight loss. 
Charles Johnson opened the I Oth with a 
single and pinch-runner Gregg Zaun ad- 
vanced on a sacrifice. 

Jeff Conine walked, and after both 
runners moved up on a groundout, 
Renteria singled to center. The Marlins 
have won five straight, all against AL 
teams, and are 11-3 in interleague 
games. 

cubs 9 , twins 3 In Chicago, Sammy 
Sosahit a two-rnn homer andTyler Hous- 
ton drove in three runs for the Cubs. 

Brewer* 4 , A*t*«s 2 Gerald Williams 
drove in the go-ahead run with a sac- 
rifice fly in the ninth as Milwaukee beat 
the Astros in Houston to close within 2Vi 
games of fast-place Cleveland in the AL 
Central. 

The Astros dropped their sixth 
straight and saw their lead in the NL 
Central shrink to 1 16 games over second- 
place Pittsburgh. 

Hangars is, Dads*** 12 In Arlington, 
Rusty Greer’s two-out run-scoring 
single capped a six-run ninth inning that 
rallied Texas to victory over Los 
Angeles. Greer, batting for the second 
time in the inning, lined a 3-2 pitch 
through the right side to score Alex Diaz 
with the winning run. 

Roekfes 7 , Angais 2 Walt Weiss went 
4-for-4 and hit one of Colorado’s three 
homers as the Rockies won in Anaheim. 


By Murray Chass 

AVw York Twe* Service 

NEW YORK — So Major 
League Baseball, in its infin- 
ite wisdom, abandoned its po- 
sition as the- keeper of mean- 
ingful championships and 
instead created wild cards. 

The new system, the rebels - 
in -charge explained, would 
maintain interest later into the 
season among fans in many 
more cities because their 
teams would have a chance to 
reach the playoffs by way of 
the wild-card route. 

That road this season 
seems to have been eroded by 
potholes. 

Wild-card races? What 
wild-card races? 

The New York Yankees 
and the Florida Marlins, at 
last glance, were running un- 
challenged. The reams closest 
to them, before Tuesday 
night’s games, were six and a 
half (California Angels) and 
six games ISan Francisco Gi- 
ants) behind. 

At the corresponding time 
in the first year of the wild 
card. 1995, five teams were 
closer to the American 
League leader than the Angels 
are this season, and six teams 
were closer to the National 
League leader than the Gi- 
ants. Last season at this time, 
the AL had four teams closer 
and the NL three teams. 

Those were races; these are 
not 

Is this, then, an aberration? 
No one knows. It’s possible 
that this season's develop- 
ment will be the rule rather 
than lhe exception. Then 
where will all of that en- 
hanced interest be? 

The absence of races is not 
the only problem with the 
wild-card format Its exist- 
ence has deprived the Amer- 
ican League East of a good 
race between the Y ankees and 
the Baltimore Orioles. Con- 
sider the approaching pair of 
four-game series between the 
teams, the first beginning 
Thursday night at Yankee 
Stadium. 

If there were no contrived 
way for the Yankees to slip 
into the playoffs, they would 
face these series knowing 
they had to dominate the Ori- 
oles or pack up their bats and 
balls for the winter. But all the 
Yankees really have to do is 
avoid losing too many games 
so that the Angels cannot ben- 
efit significantly and create a 
wild-card race. 

In fact, many people have 
suggested that the Yankees 
would be better off being the 
wild-card team because then 
they would play the Cleve- 
land Indians, who are stag- 
gering their way toward the 
AL Central championship, 
and not the Seattle Mariners, 
who have people named Ken 


Griffey Jr. and Randy John- 
son and others like them. 

Mike Hargrove, die Indi- 
ans’ manager, said Tuesday 
that the suggestion that the 
Indians would be an easier 
opponent for the Yankees 
than the Mariners did nor 
bother him. 

“It doesn’t hurt my feel- 
ings," he said by telephone 
from Pittsburgh. "I hope the 
Yankees do get to play us. 
That means we're in it" 

Bui if Hargrove isn’t 
bothered, baseball officials 
should be. 

The suggestion that has 
been raised could threaten the 
integrity of the game. If a 
team like the Yankees were to 
conclude thai they would be 
better off playing the Indians 
rather than the Mariners, that 
first team could decide to 
make sure it won the wild- 
card spot and not the division 
championship. 

Nothing is guaranteed — 
teams have squandered six- 
game leads before — but the 
Yankees are in excellent po- 
sition. The Angels are lhe 
only team within a single digit 
of the wild-card lead, and 
their starting pitching is in 
shambles. 

What incentive is there for 
the Yankees to try to win eveiy 
game from the Orioles? 

“I keep reading that,” said 
Bud Seng, the acting com- 
missioner. referring to the 
play- the- Indians suggestion. 

“It’s hard for me to believe 
a club still wouldn’t want to 
be its division champion. But 
yeah, I have some concerns 
relative to that. Whatever we 
need to do. we probably need 
to make some adjustments 
relative to the wild-card situ- 
ation. 

"We knew there were 
some imperfections,” Selig 
added. 

"We’ve talked about it 
The answer is we need to be at 
least somewhat concerned 
about it. There are some ad- 

{ 'ustments that probably will 
iave to be made." 

If the road to realignment 
leads to one 16-team league 
with four divisions, the wild 
card would not be needed in 
that league. 

The charapions-only play- 
offs would be restored, at 
least in pan. But the other 
league would have 14 teams, 
pending future realignment, 
and would very likely have 
three divisions. 

The realignment commit- 
tee and the ruling executive 
council met in Chicago on 
Wednesday, hoping to move • 
forward with a realignment 
plan that can win approval 
from the owners and the play- 
ers. 

It is a near impossible task. 
The committee members 
can’r even agree on a plan. 


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Billions , Up in Smoke 


XX WASHINGTON — 1 
W realize that I may be the 
only one. but I am very con* 
fused by die recent tobacco 
settlements and the amounts 
of money the companies are 
willing to shelf out so they can 
stay in business. 

The last one is $1 1.3 billion 
that manufacturers have 
offered to pay the state of 

$3 billion a few 

and other states 
are waiting in 
line for offers 

All i can Buchwald 
gather from this 
is that, even with billion-dollar 
payouts, the tobacco compa- 
nies have no fears about being 
forced out of business — even 
though everyone now agrees 
that cigarettes wilt kiti you. 

The irony of this came to 
mind when 1 read that Hudson 

Collectibles for Sale: 
Elvis and Madonna' 

.1 er/ii e F hrmv-Pmse 

LONDON — Guitars 
played by Elvis Presley. Eric 
Clapton and Prince and a 
bustier worn by Madonna 
will go under the hammer 
Thursday in London, the auc- 
tion house Christie's said. 

An acoustic guitar signed 
by Elvis that he played in 
1959 is expected to raise up to 
£7,000 (S1 1.000 1. while a 
Gretsch Rancher guitar that 
belonged to Clapton in the 
1970s is valued at up to 
£4,000, and a 1960s Fender 
Teiecaster guitar played by 
Prince at up to £3.000. 

A black satin bustier worn 
by Madonna in concert is ex- 
pected to fetch £4.000 to 
£6,000, Christie's said. 


Foods Inc. had apparently dis- 
tributed tons of tainted meat 
that had caused an outbreak of 
illnesses in those areas where 
the meat was sold. 

The cry of “Fire" went up 
immediately. Hudson an- 
nounced the largest recall of 
any food company in Amer- 
ica. Burger King canceled its 
contract. The government is- 
sued warnings to people not 
to consume die meat Hudson 
may well have a problem 
staying in business. 

Felix Rendacker. a spokes- 
man for the tobacco forces, 
told me. “We have always 
known that bad beef can 
cause stomachaches and 
nausea. But there is still some 
question about whether to- 
bacco can make you sick." 

“If this is true, why are you 
paying billions to keep the 
states from suing you?" I 
asked. 

“They need the money and 
we don’t.” 

“Is there any tainted 
chopped meat in your ciga- 
rettes?” 

“That’s a trade secret Our 
competitors would like noth- 
ing better than to know if our 
product contained inedible 
beef or not.” 

□ 

“Would you considers re- 
call if it turned out that cig- 
arettes caused as much trou- 
ble as tainted meat?" 

“We'd give it serious con- 
sideration and then reject it. 
Everybody is picking on to- 
bacco these days. But how 
many people are willing to put 
up $ I [ billion to make peace 
with those who don't like it as 
much as frozen yogurt?" 

This is not the end of the 
cigarette damage cases. As 
long as there are lawyers, 
there will be unhappy 
smokers, and as long as there 
are unhappy lawyers, there 
will be smokers. 


PEOPLE 


nsbvti’i 


lationship and counter dial of writers 
like Albert Goldman, who has de- 
scribed the former Beatle as an “aut- 
istic. schizophrenic, bisexual manic 
depressive." Ono — who has been 
blamed for the breakup of the Beatles 
— will be portrayed as a peacemaker 
between Lennon and Paul McCart- 
ney. Studio sources told The Wash- 
ington Post that the deal would bring 
Ono at least S80 million. 

□ 

Oprah Winfrey's production 
company and distributor have denied 
rumors that the talk show queen will 
retire next year. Talk of her departure 
was serious enough Tuesday to rattle 
Wall Street. Stock prices of King 
World Productions Inc., distributorof 
Winfrey’s syndicated program, 
slipped in heavy trading. But King 
World and Winfrey’s company. 
Chicago-based Harpo Productions, 
say Winfrey still has a couple of 
weeks to decide whether she will con- 
tinue her program, which airs in 1 19 
countries. “Despite media 


Oprah has not yet made a decision 
regarding continuing ‘The Oprah 
Winfrey Show’ beyond the 1997- 
1998 season." Harpo Productions 
said in a statement. “She has to make 
a decision by September 15, 1997.” A 
Los Angeles television station had 
reported Tuesday that Winfrey had 
decided not to renew her contract for a 
13 th season. 

□ 

Christian Slater has been barred 
from contacting Michelle Jonas, his 
ex-girl friend. Slater was charged with 
punching Jonas in the face at a rowdy- 
party last month where he also al- 
legedly bit one of her friends and 
attacked a police officer. When asked 
if Slater, whose arrest record says he 
admitted to police that he had used 
heroin and cocaine, had gone into 
drug rehab, his attorney. Michael 
Napier, said only. “He’s dealing with 
the problems that caused all of this." 

□ 

reports. Authorities in Sweden last year told 


a couple who named their son' 
BrfvxccxxmnpckcccclIlniiTvnprxY- . 
c]mnckssqlbbl3116 to Bad a o&jfc. 
shorter name for the boy. but havendw; 
rejected his new name — A, acconfisg 
to the Hollands Nyheter newspaper^; 
Initially, the parents refused to provide- * 
tax authorities with a name for their. > 
newborn son. After some contended, 
the parents finally provided them with 
the 45-letter and digit sequence; which 
they say is pronounced ‘ ^Albiia.” That 
resulted in a 5,000 kronor C$625) fine 
from the tax authorities in 1996,for 
defying the Swedish name law. Thjs v 
summer, the couple registered their son ; 
as A. The tax authorities also rejected^ 
that name, as single letter names are opi£- 
allowed. An appeals court upheld this.: 
decision. Hie parents have previously' 
explained that they “chose a mean- 
ingful expressionistic typographic 
mutation which we consider to be 
artistic new creation in the patapby$f- 
ical tradition in which we believe^-? 
The boy, who is still officially nam^ f- i 
less, has a passport on which his naafe^ 
is given as Boy Tarzan. : 


BULLY, BULLY — A Spanish matador, Cristina Sanchez, posing with members 
of the Cuban National Ballet after rehearsing the ballet “Don Quixote" in Madrid. 


N OW that Walter Cronkite and 
his wife have settled into their 
new apartment, he's had some time ro 
reflect on the way it was. Cronkite. 80. 
a legendary newsman for CBS for 47 
years, had quadruple bypass heart sur- 
gery in March, a year after having a 
knee replaced. His wife of 57 years, 
Betsy, also 80. decided last spring that 
they should leave their four-story New 
York townhouse for a one-floor apart- 
ment. “We hated moving,” Cronkite 
told People magazine. “I don’t know 
what was worse, ail the sentimental 
stuff — that we had raised a family 
there, that we loved the neighborhood 
and the neighbors — or just the 
thought of cleaning out closets that 
hadn't been touched in 40 years.” 

□ 

Yoko Ono is about to close a deal 
with Columbia Pictures to make a 
movie about her romance with John 
Lennon, the New York Post reports, 
quoting unidentified studio sources. 
The paper said Ono saw the film as a 
chance to tell her version of their re- 


DNTERNAT10NAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 4, 1997 


Strange, Murky Tale of a Looted Art Collection 


By Alan Riding 

AVi v fort Times Stri k e 


P ARIS — In late October 1940, as 
Hitler's Germany began picking 
the fruits of its occupation of France, 
Nazi troops raided Alphonse Kano’s 
mansion at Saint-Germain -en-Laye 
near Paris and earned away his en- 
tire an collection. 

The works, which included eight 
rare illuminated manuscripts along 
with a trove of paintings, drawings 
and sculptures, were taken to the 
Jeu de Paume museum in Paris, 
where they were stored pending 
shipment to Germany. 

Kann, 70 at the time and exiled 
in London, escaped the fate of 
76.000 other Jews who were later 
deported from France to Nazi death 
camps. But his collection, along 
with those of the Rorhschilds, 
Rosenbergs, David-Weills, Wil- 
densteim and other wealthy Jewish 
families, disappeared. 

Only after the Allied victory in 
1945 were many looted artworks 
recovered and returned to their 
owners or the owners’ heirs. 

Kann, though, had a problem. He 
had left France in 1938 without 
making an inventory of his vast 
collection. When it came to re- 
claiming missing works, his 
memory often failed him. And 
whea he died in late 1948 without 
ever returning to France, his heirs 
had no alternative source of in- 
formation. His legacy, shared 
among five nephews, was consid- 
erable, but it did not include the 
eight medieval manuscripts. 

Last fall, almost half a century 
later, Kann’s heirs came upon 
strong evidence that the fragile 
prayer books should have formed 
pan of the inheritance. 

Then in November they dis- 
covered that the manuscripts were 
in New York City in the possession 
of Wjldenstein & Co., the powerful 
family-run an dealer that owns two 
galleries in New York as well as the 
Wiidenstein Foundation in Paris. 

How the manuscripts arrived in 
New York, how rhey were traced, 
how they were offered for sale after 


the Kann estate tracked them down 
and how the Wildensteins continue 
to claim legitimate ownership of 
the documents make up a complex 
new chapter in the extraordinary 
story of the diaspora of Nazi-con- 
fiscated an that began in France in 
1940 and continues to this day. 

It is a story that could easily have 
been forgotten. After the war, 
France recovered some 61 ,000 art- 
works from Germany, of which 
45,000 were identified . and re- 
turned to their owners. Of the bal- 
ance, 14,000 of minimal worth 
were sold, bur the government held 
onto at least 2.000 works. 

In theory, they were waiting to 
be claimed; in practice, they were 
absorbed by French museums, al- 
beit still identified as “MN.R.,” 
the French initials for National Mu- 
seums of Recuperation- 

In the spring of 1 996, an Amer- 
ican journalist. Hector Feliciano, 
published “Le Musee Disparu” 
(published in the United States this 
year by Basic Books as “The Lost 
Museum”) in which, among other 
things, he accused successive 
french governments of making no 
effort to find die rightful owners of 
unclaimed works of art. 

To prove his point, be identified 
the original owners of several 
paintings seized by the Nazis ihal 
were hanging in French museums. 

Among readers of the book in 
France was Francis Warm. 67. a 
great-nephew of Kann. He learned 
dial one painting held by the 
Georges Pompidou Center. ‘ ‘Land- 
scape,” by the cubist artist Albert 
Gleizes. belonged to the Kann col- 
lection and that another in the Fine 
Arts Museum in Rennes, Picasso's 
“Head of a Woman” (1921), was 
bought by Kann in 1924. 

Warin phoned Feliciano, who 
told him that each of the 1 ,202 works 
of art seized from Kann’s home was 
marked by die Nazis ai the Jeu de 
Paume with the initials “ka,” for 
“Kann. Alphonse.” and a number. 
German an experts then recorded a 
detailed description of each object 
according to its “ka” number. 

Warin obtained the Kann dossier 


Part of Alphonse Kann’s art collection before the Nazis took it. 


from the French Foreign Ministry, 
the official custodian of unclaimed 
artworks. Reading it. be and Fe- 
liciano noticed that among a Large 
number of missing objects men- 
tioned in the German inventory were 
eight illuminated manuscripts, iden- 
tified as ka 879 through 886: five 
late 15th-century and early 16th- 
century Flemish Books of Hours, 
two 16th-century Italian prayer 
books and one Persian manuscript. 

Warin said that Francois Avril, 
curator of manuscripts at the Na- 
tional Library, disclosed that three 
of these unclaimed manuscripts 
had been exhibited there in 1949, 
and that while Georges Wilden- 
stein claimed these documents at 
the time, a report by the National 
Library had questioned whether he 
bad proved ownership. 

“The Foreign Ministry told me 
that at least three were given at its 
insistence to the Wiidenstein fam- 


ily in 1952,” Warin recalled in an 

interview. 

Georges Wiidenstein died in 
1963, but Wiidenstein & Co. and 
the Wiidenstein Foundation are still 
run by his son, Daniel, and his 
grandsons. Guy and Alec. In No- 
vember, on behalf of the Kann heirs. 
Warin wrote to the Wiidenstein 
Foundation in Paris claiming two of 
the manuscripts; in December, he 
wrote claiming two more: in Janu- 
ary, he wrote claiming ail eight. 

The Wildensteins dismissed the 
claims. Replying to the first letter, 
Guy Wiidenstein said his grand- 
father. Georges, bought a collection 
of medieval manuscripts, including 
those mentioned by Warin, from 
Alphonse Kann “before the Second 
World War.” These manuscripts, 
he said, were stolen by the Germans 
from the Wiidenstein Gallery at 57 
Rue de la Boetie and returned to the 
family after the war. 


The response to Warm’s other, 
letters came from the Wildenstein - 
Foundaiion’s Paris lawyer, leap- - 
Luc Chanter, who stated that thret 
of the manuscripts, were bought ', 
from Edouard Kann, a distant cods- * 
in of Alphonse Kann. in 1909:.^ 
“These documents are the exclus- 
ive property of the Wildenstrao. 
family and were returned to them 
after being looted,” the letter said. 

What Warin did not know was ?} 
that, having sat on the manuscripts . 
for 45 years, the Wildensteins sndiv 
denly put them on the market 

In February, Sam Fogg, a Loo? ;; 
don dealer in rare books, was 
shown the documents and asked 
James Marrow, a professor of art 
history at Princeton University*;^ . 
examine them. i 

Marrow was introduced to 
Darnel Wiidenstein and inspected 
the manuscripts. When he inquired 
about their provenance, however. 
Marrow said, he was told they 
came from the Kann collection and 
had been in the possession of the 
Wildensteins “for a very long 
time,” although the family was un- 
able to provide any date, bill of sale 
or detail of the acquisition. 

“I never got a straight answer,” 
Marrow recalled. He said he was 

also puzzled to find “ka” plus three- 
digit numbers marked in reddish 
pencil on each of the manuscripts. 
One, the “Hours of Jean Car- 
pen tin,’’ for example, was ka 883. 

In his report to Fogg, Marrow 
praised the manuscripts but noted - . 
the gallery's reluctance to discuss 
their provenance. He said thai the 
London dealer was evidently, in- - 
te rested in the documents, but one 
month later, having agreed on. a! 
purchase price, Fogg abruptly 
withdrew his offer. 

In May, Marrow got in touch 
with Warin and shared all his in- 
formation with him. “I told him, 

I’m not a judge or a lawyer,” Mar- 
row recalled. “I’m just saying that 
there are documents stolen from 
the Kann collection and someone 
else is offering them for sale. This - 
is as close as one can get to an open- | 
and-shut case.” 




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