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INTERNATIONAL HERALD TRIBUNE. WEDNESDAY, SEPTEMBER 24. 190? 


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INTERNATIONAL 



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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POS 


The World’s Dally Newspaper 





Blair Praises Scots 
For Their 6 Courage 9 

After ‘Yes’ to Parliament, What Next? 


By Dan Balz 

Washington Post Service 


EDINBURGH — - Prime Minister 
Tony Blair flew in here Friday to hail 
the resounding endorsement of a ref- 
erendum creating Scotland’s first Par- 
liament in almost 300 years, praising 
the people of Scotland for having 
"the courage and the confidence to 
mist themselves.” 

Mr. Blair’s comments came after 
people in Scotland voted Thursday by 
a margin of 3 to i to create the Par- 
liament and by a somewhat s mall er 
margin to give it the power to raise 
and lower taxes. 

The historic vote represented the 
most significant constitutional 
change in Britain in modem times and 
a victory for Mr. Blair’s agenda of 
devolving power away from the cen- 
tral government in London. 

Final results from voting in the 
referendum showed 74.3 percent in 
favor of setting up a Parliament and 
25.3 percent against 



• CUnBunlApnFWFien 

A Scot celebrating the ‘yes’ vote 
early Friday in Edinburgh. 


On a second ballot question of 
whether the Parliament should be 
granted tax-varying powers, 63.5 per- 
cent were in favor and 36.5 percent 
against. Two voting districts voted 
narrowly against the second proposal. 

"This is a good day for Scotland 
and this is a good day for Britain and 
the United Kingdom." Mr. Blair told 
a cheering crowd of devolution sup- 
porters. 

After his visit, Mr. Blair flew on to 
Wales, the sire of the next phase of his 
agenda for constitutional reform, a ref- 
erendum next Thursday that would 
establish a Welsh assembly with lim- 
ited powers. Supporters of the ref- 
erendum hope that the strong show of 
support for the Scottish Parliament will 
add momentum to their campaign. 

The vote in Scotland put the people 
of this once-independent nation — 
and the whole of Britain — on the 
edge of the unknown. 

Proponents of the referendum con- 
tended that it was needed to rein- 
vigorate Britain as it prepares for the 
next century, while opponents warned 
that a separate Parliament in Scotland 
would mean the beginning of the end 
of the United Kingdom itself. 

Mr. Blair addressed those fears Fri- 
day, saying the vote would help to 
strengthen Britain, as did the Scottish 
secretary, Donald Dewar, who spear- 
headed the Labour government's 
campaign in favor of the Parliament. 

In a statement early Thursday 
morning, Mr. Dewar said the people 
of Scotland had "seized the mo- 
ment” by endorsing both halves of 
the referendum. 

* ‘This is a confident vote, " he said. 
"We are a nation that believes in 
ourselves.” 

Scotland has not bad its own le- 
gislative body since 1707, when its 
Parliament was dissolved and merged 
into what is now the British Parlia- 
ment. That merger came a century 
after the union of the English and 
Scottish crowns under the Stuart line. 

But on Thursday — on the 700th 
anniversary of the victory by William 
(Braveheart) Wallace ar the Battle of 
Stilling Bridge, which helped Scot- 
land break free of English rule — 
voters took back a measure of power 
for the first time in 290 years. 

The affirmative referendum vote 

See SCOTLAND, Page 7 


Mother Teresa’s Farewell 

In According State Funeral, India Puts Nun 
In the Pantheon of Gandhi and Nehru 


By Kenneth J. Cooper 

Washington Past Service 

CALCUTTA — This solemn dry 
made final preparations Friday for a 
state funeral and private burial for 
Mother Teresa, a naturalized citizen of 
India who will be accorded the same 
martial honors reserved in the past for 
such national heroes as India's founding 
father, Mohandas Gandhi and Jawa- 
harlaj Nehru, the first prime minister. 

As its government had done with 
Gandhi, India broke tradition by ac- 
cording a state funeral to Mother Teresa, 
who became an Indian citizen in 1950. 
The nation usually reserves state fu- 
nerals for presidents and prime min- 
isters. 

The nun, who was 87, died of heart 
failure here Sept. 5 at the international 
headquarters of the Roman Catholic or- 
der she founded a half century ago in die 
slums of Calcutta, now a cramped city 
of 1 1 million. Officials estimated that 1 
milli on people would line the streets to 
watch 500 soldiers escort Mother 
Teresa’s body from the city’s oldest 
Catholic church, where several hundred 
thousand people filed past her bier over 
six. days, to the funeral at an indoor 
sports arena. 

The funeral cortege will begin mov- 
ing at abom 8:45 A.M. (0315 GMT). 
The funeral service is scheduled at 
about 10 A.M, (0430 GMT), and the 
private burial at about 2 P.M. (0830 
GMT). The funeral procession is to in- 
clude vehicles carrying nuns freon her 
order. Catholic leadere and represen- 
tatives of the poor, disabled and dis- 
eased whom her mission has served. 

The procession’s route was k 
ened to about eight kilometers (f 


miles) so that more Calcuttans could 
pay their last respects to the Albanian- 
born nun who became known as "the 
Saint of the Gutters.” 

Mother Teresa’s body is to be carried 
in a closed coffin aiop a gun carriage, 
the same one that was used to bear 
Gandhi in 1948 and Nehru in 1964 to 
their cremation pyres. Before Mother 
Teresa’s burial at the headquarters of 
the Missionaries of Charity, the order 
she founded in 1948, soldiers will fire 
three volleys from 12 rifles, the same 
ones that also sounded India's final sa- 
ltires to Gandhi and Nehru. 

The marrial aspects of the ceremonies 
appeared to clash with the spiritual 
nature of Mother Teresa, who was 
awarded the Nobel Peace Prize in 1979 
for her dedication to easing the suffering 
of the world’s poorest. From its spare 
beginnings, her order has come to en- 
compass 4500 nuns and religious 
brothers working at almost 600 homes 
in more titan 100 coimtries. 

S is ter Nirmala. elected six months 
ago to succeed Mother Teresa as su- 
perior-general, said the order of nuns did 
not object to its founder’s body being 

See TERESA, Page 7 


Paris, Saturday-Sunday, September 13-14, 1997 





Chinese Get the Word onneforms 



Jiang Stresses 
Party Control 
As Economy 
Goes Private 


By Steven Mufson 

Washington Past Service 

BELTING — Jiang Zemin, China's 
president and Communist Party leader, 
made economic reform the cemerpiece 
of his keynote speech on Friday to the 
15lh Party Congress. 

He endorsed a smaller state sector in 
the economy, the layoffs of 


excess 


: promt 
snip.” 


^ ^ ViUHuipw'K^olm 

Soldiers marching to Beijing guard posts Friday amid security so tight that even a street sweeper has an ED. 


Missile Parts 
Flow Easily 
From Russia 

Smuggled Gyroscopes 
Turned Up in Baghdad 

By David Hoffman 

Washington Post Sen-ice 


Probe Orbits Mars 


A 22-minute rocket bum braked 
the Mars Global Explorer to ease 
it into orbit around Mars. Without 
the bum the craft would have 
flown past Page 7 


Trajectory 
from Earth 


MOSCOW — In Sergiyev Posad, a 
city north of Moscow known for an old 
Russian monastery. lies a high-security 
military plant that dismantles ballistic 
missiles from Russian submarines under 
tire START- 1 aims control treaty. 

The SSN-18 missiles anive ax the 
plant, the Scientific Testing Institute of 
Chemical Machine Building, with their 
waiheads already removed. But the 
rockets still contain highly sophisticat- 
ed electronic guidance systems, includ- 
ing gyroscopes that keep the missiles on 
course to their targets. 

In one of the most significant ex- 
amples of the proliferation of Russian 
missile technology yet uncovered, in- 
dependent investigators have traced the 
means by which 30 gyroscopes from 
disassembled missiles in 



Orbit 

insertion 

bum 


Path 

without 

bum 


Source.- NASA/M Propulsion Laboratory 


No Success 
In Mideast 
By Albright 

Her Return Will Await 
Some ‘Hard Decisions’ 


By Steven Erlanger 

New York Tunes Service 

DAMASCUS — Acknowledging 
that she had made little progress in 
restoring peace talks between Israel and 
the Palestinians, the U.S. secretary of 
state, Madeleine Albright, said Friday 
that she had no intention of returning to 
the region until the leaders of both sides 
make "the hard decisions” required to 
restore mutual confidence. 

Speaking to reporters just before she 
left Israel for talks with Syrian leaders 


forms of ownership. 

But Mr. Jiang offered no new ini- 
tiative in the area of political reform 
during his speech to the more than 2,000 
Communist Party delegates. 

Although he said China must be 
"ruled by law," Mr. Jiang reiterated a 
need to adhere to the "four cardinal 
principles” coined by Deng Xiaoping, 
the late leader, intended to ensure the 
Comm must Party’s monopoly on polit- 
ical power. 

"Without stability, nothing could be 


ttkt New Y>«fc Times Reaction to visit is mixed. Page 5. 


Freezing deals, Israel says Russia 
helps Iran develop missiles. Page 5. 


Posad made their way to Iraq — in vi- 
olation of UN sanctions. The gyroscopes 
were transferred through middlemen and 
ultimately were fished out of a Tigris 
River canal near Baghdad by UN 
weapons inspectors on Dec. 9, 1995. 

A summary of the investigation, car- 
ried out by a research organization on 
nonproliferation issues here, the Center 
for Policy Studies in Russia, was made 
available to The Washington PosL Por- 
tions of the report were independently 
confirmed by western experts. 

The group’s research suggests that 
Russia's export controls were ineffective 
in stopping shipment of the gyroscopes 
and that the country's decaying defense- 
industrial complex may be an easy target 
for smuggling of materials used to build 
weapons of mass destruction. 

Many experts believe Russia’s ar- 
chipelago of military institutes and fac- 
tories remains vulnerable to diversion, 
sale and theft of sensitive technology 
and nuclear fissile materials. 

The reason is that while nuclear 
weapons are kept under military guard, 
much of the defense-industrial system is 

See MISSILES, Page 7 


Helms Blocks 
All Debate 
Over Envoy 


The Associated Press 

WASHINGTON — The ambassad- 
orial nomination of William Weld 
suffered a new blow Friday as Senator 
Jesse Helms convened a meeting of the 
Senate Foreign Relations Committee 
but refused to give the stalled nom- 
ination a hearing. 

His voice filled with scorn, Mr. 
Helms, a conservative Republican, said 
Mr. Weld, a Republican moderate, had 
threatened to “begin a war within the 
Republican Party.” 

."Well, let him try, let him try,” he 
said. When a Democratic committee 
member tried to speak, Mr. Helms, 
whacking the table, said, "I’m nor go- 
ing to debate this!” 

Appearing outside the committee 
room with Mr. Weld, Senator Joseph 
Biden of Delaware, the senior Democrat 
on the committee, said supporters of Mr. 
Weld’s nomination could tome a Senate 
vote by getting 52 signatures on a pe- 
tition. 

Mr. Weld's supporters on the com- 
mittee are trying to force Mr. Helms to 

See HELMS, Page 7 


here, Mrs. Albright said: “I’ve created a 
rule for myself. 1 will come back to the 
region whenever the leaders have made 
the hard decisions and 1 can make a 
difference. But I am not going to come 
back here just to tread water.” 

She made no effort to claim a sig- 
nificant success and expressed disap- 
pointment that she could announce only 
a new set of talks about talks. 

Senior advisers to Prime Minis tor 
Benjamin Netanyahu of Israel and Yas- 
ser Arafat, the Palestinian chairman, will 
go to Washington in two weeks, she said, 
and about a week later, she will be host a 
meeting at the United Nations between 
Foreign Minister David Levy of Israel 
and Mr. Arafat's aide, Abu Mazen. 

See ALBRIGHT, Page 5 


China has agreed to return a 

supercomputer to the U.S. Page 3. 

achieved,” said Mr. Jiang, who rose to 
the top of the party after the crushing of 
student-led demonstrations for democ- 
racy in 1989 in Tiananmen Square. 

"We must uphold the leadership of 
the party and the people’s democratic 
dictatorship.” 

The session on Friday, inside the vast 
Great Hall of the People, opened with 
the national anthem by a military band. 

Rows of senior officials sat on the 
stage before giant red drapes and an 
enormous hamme r and sickle. In ad- 
dition to current party officials, those 
invited onto the stage included four of 
the aging "immortals” from the rev- 
olutionary era and also one of Mr. 
Deng's sons. 

Outside the ball, several Chinese de- 
fied heavy police presence to lodge pe- 
titions with the party. The Associated 
Press reported. One deposited a thick 
pile of petitions among crowds in a 
cordoned-off area of Tiananmen 
Square. Plainclothes police scooped up 
the copies labeled simply, “A Plaint’' 

Police led one man away, but it was 
not clear if he was the author of the 
petition. Two others were taken away, 
including a woman bolding a two-page 
petition beaded. “A Call for Justice." 

In describing the future of economic 
reform, Mr. Jiang asserted that the stale 
must retain "a dominant position in 
major industries and key areas that con- 
cern the life-blood of the national econ- 
omy.” But he also said that the econ- 
omy's state-owned portion, which is 
barely half as big as it was in 1980, could 
shrink even further without comprom- 
ising the party's socialist principles. 

Mr. Jiang avoided the word "pri- 
vatization,” but bis outline for invig- 
orating Chinese enterprises left open a 
greater role for private investment and 
independent management, especially in 
small and medium-sized enterprises. 

The party and state leader said that 

See CHINA, Page 7 


A Big , Bad Fish Story 

Barbs Tossed Across U.S.-Canada Border 


By Timothy Egan 

New York Times Service 


SEATTLE — It started with a mari- 
time blockade — angry Canadian fish- 
ermen holding an Alaska ferry ar bay for 
three days. Then came an abrupt move 
to shut down an American torpedo-test- 
ing range in British Columbia, followed 
by three international lawsuits and a 


ve 


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AGENDA 


12 Killed in 2 Days of Kenya Clashes 


Three people were killed Friday out- 
side the port city of Mombasa, bringing 
Ae death toll in two days of fighting 
between the police and gunmen to at 

Ie Three<^ose killed were civilians 


The Dollar 


who were caught in the crossfire be- 
tween the police and armed assaila n ts 
who raided a police station and have 
been terrorizing residents south of 
Mombasa. Nearly 60 people have been 
arrested. Page 7. 


Now Yak 

Fri*v0 4P.M. 

previous done 

DM 

1.7715 

1.7807 

pound 

1.6075 

1.56 

Yen 

121.00 

119.70 

FF 

5.9575 

5.987 



Fftoeydas* 

previous etow 

— lags*:—' — 

+81.99 

7742.97 

7660.98 

f S&P 500 | 

CfWVJB 

Friday C 4 

previous dose 


EUROPE PWSL 

Diana Bodyguard May Have Amnesia 

THE AMERICAS Pagft3- 

Horrors of Haitian Sinking Recalled 

Books... — Page 3. 

Crossword....... - Page 15- 

Opinion Page ft 

Sports Pages 20-21. 

The Intormarket Pago 6. 


The IHT on-fine wmiht.com 



+10.51 


923.91 


nmrSotPttflciani. 

BOSNIAN STRATEGY— The NATO secretary-general, Javier So- 
lans Madariaga, left, conferring Friday in Sarajevo with General 
Wesley Clark and other officials about weekend elections. General 
Clark warned later that peacekeepers under NATO command would 
use “lethal force'* to stop any disruptions. Earlier article, Page 2. 


barrage of insults between politicians 
who usually excel at cross-border back- 
slapping. 

Talk radio in Vancouver has been hot 
with anti-American sentiment, while 
south of the 49th parallel, a Seattle 
newspaperman a suggestive headline: 

This is war, both sides insist, though 
it is only the kind of war that a region' 
once called Ecotopia could produce — 
the "salmon war, ’'a fight over who gets 
to keep fish that are ignorant of an 
invisible line of sovereignty in the wa- 
ter. 

It is somewhat surprising that people 
are at each other's throats over the most' 
sacred of regional icons: “salmon, our 
statue of liberty,” in the words of Ethan 
Seltzer, a professor of urban studies at 
Portland Stare University. 

But what has perplexed many in the 
Pacific Northwest and British Columbia 
is that an area that has held itself up as a 
21st-century model— a bioregion with- 
out borders — has fallen into old-fash- 
ioned nationalism: flag-bumings, in- 
sults based on national stereotypes, and 
even a mild version of gunboat diplo- 
macy. 

All of this was not supposed to hap- 
pen in the self-named region of Cas- 
cadia, a region that shares a rainy cli- 
mate, a culture tilting toward Asia and a 
sense that it is the envy of die world. 

"You don’t go around saying some 
of the things that have been said in 
recent days without causing some se- 
rious, long term damage," said Alan 

See SALMON, Page 7 


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PAGE 2 


INTERNATIONAL HERALD TRIBUNE, S ATURDAT«SUNDAY , SEPTEMBER 13-14, 1997 


Dreaming of Home in Bosnia 

Municipal Elections Will Do Little to Resettle the Displaced 

• * . J kAVIAAtt rhr» vnf- rrriminal. Desnire the hitter and viol' 


; DRVAR, Bosnia-Heraegovira — The 
old men shuffle onto the Alley of Sorrow 


4 £ - dropped their threats to boycott the vot- criminal. Despite ttw a 

T By Lee Hocks tader ^p bcly this week- Accusations of political fight that has raged for months - . 

! Washington Post Senice fraudulent registrations from all sides among the Bosnian Serbs, there is no ^ 

\ 

&*££££« 

. 

^OnSaturdav and Sunday, Bosnians the reluctance of commanders of the if only to give people a chance to throw . 

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wsfes—fis® jsswsBsasaaa: sbsssbsssb & 



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ym 


Alley of Sorrow, as some of them rail a 
shady sidestreet in the Bosnian Serb 
town of Banja Luka, that means a 
chance to reverse the * ‘ethnic cleans- 
ing” that swept them from their 
m a little town in western Bosnia called 
Drvar two years ago. Today they are 
scattered in more than 100 cities and 
towns in Serbian-controlled areas of the 
former Yugoslavia. 

! “We’re voting to have our town 
back, the town our forefathers settled 
900 years ago,” said Bogdan Kospic. 
60, a Serbian magistrate who fled a 
Croatian offensive around Drvar in 
September 1995 as Bosnia’s three-and- 
a -half-year war was petering out 
- Drvar. whose prewar population of 
J 7.000 was 97 percent Serb, these days 
is full of Croatian refugees, themselves 
driven from their homes elsewhere in 
Bosnia. They have no intention of leav- 
ing their new homes — and no place to 
go — even if the Serbs win control of the 
county council here, which is likely. 

’ "There are nearly 9,000 civilians 
. plus an army brigade here,” said 
Borivoj Malbasic. 49, an army colonel 
during the war who is the appointed 
Croatian mayor of Drvar. ‘‘You can see 
what would happen.” 

* The 142 local council races this 
weekend are the first since 1990, before 
the outbreak of war that ripped Bosnia 
apart. In the view of Western officials 
here, they are a milestone on die road 
toward peace. But as the vote ap- 
proaches, it is churning the waters, not 
calming them. 

. The only real electoral issue is fear 
With each of Bosnia's three ethnic com- 
munities frightened of the two others, 
there is Little chance of dislodging the 
three main ethnic-based parties in most 
areas where their group dominates. 
Each of them is fervently nationalist and 
more than a little communist in outlook. 
Moderates don't stand a chance. 

! There are a dozen or more towns like 
Drvar whose councils could pass from 
the control of one ethnic group to an- 
other as a result of absentee voting by 
refugees. But the current occupants are 
not about to permit the former residents, 
their bitter enemies, to return and seize 
their houses. 

Although most refugees have the op- 
tion to vote in person or absentee in their 
former towns and villages, the majority 
\vill not. The main parties have pressed 
people to vote where they live now in 
order to consolidate the pattern of polit- 
ical control, and of "ethnic cleansing,” 
fcft by the war. 

! Refugees such as those from Drvar 
who insist on registering to vote in their 
prewar hometowns have run afoul of the 
ethnic party bosses. There have been 


conflict,” said a British official in Bos- 
nia, speaking privately about the peace 
accords reached in Ohio. “Installation 
of the election winners will be difficult 
after such a bitter civil war.” . 

Even if they can take power in con- 
tested communities, Bosnia's local 
councils are not nearly so powerful as 
they were under communism, when 
political power in Yugoslavia was rel- 
atively decentralized. 

In the half of Bosnia controlled by 
Croats and Muslims, real power today 
resides in larger political entities called 
cantons, whose governors were elected 
last year. 

In the Serbian-controlled half, real 
power is held by the main ruling party of 
hard-liners, loyal to Radovan Karadzic, 
a former president and indicted war 


Said Hrair Balian, the American di- 
rector of the International Crisis Group, 
a think tank based in London that is 
monitoring events in Bosnia: "The 
leaders in place today are the same ones 
who committed and profited by the 
atrocities during the war, who in the last 
18 or 19 months have prevented by their 
conduct international assistance coming 
to their areas and who are running and 
profiting from the ■ illegal underground 
economy. Whether any change will take 
place is another question.” 






Slovene Voting Date 


The speaker of the Slovene Parlia- 
ment, Janez Podobnik, announced Fri- 
day that the next presidential election 
would be held Nov. 23, Reuters re- 
ported. It will be the second such elec- 
tion since Slovene independence in 
1991, a spokeswoman said. 


^ ““ ' ^ Asna:., SjilpH Fraw-Sew: 

A Sp anis h peacekeeping soldier on guard near a wall in Mostar, Bosnia- 
Herzegovina, bearing posters for municipal elections ‘this weekend. 


Diana Witness Might Have Amnesia? Doctors Say 


Cmptlcd In Our Stuff Fivm Dbpuk Ian 

PARIS — The bodyguard who sur- 
vived the car crash in which Diana, 
Princess of Wales, died may be suf- 
fering from amnesia, dimming hopes 
that he will prove to be a key witness in 
the manslaughter probe, a French daily 
reported Friday. 

Trevor Rees-Jones, under tight 
guard in intensive care in a Paris hos- 
pital since the Aug. 31 crash, is still 
unable to communicate other than by 
blinking in response to questions, Le 
Figaro newspaper said. 

Doctors who operated on Mr. Rees- 
Jones, 29, have warned police that he 
might be suffering from partial am- 
nesia about the crash in a Paris tunnel 
in which Diana, her companion, Dodi 
al Fayed, and their driver, Henri Paul, 
were killed. It was not clear whether 
Mr. Rees-Jones had been told that the 
others were dead. 

Doctors say it is common for ac- 
cident victims to have no recollection 


of a crash, and that anesthetics used in 
surgery can also contribute to erasing 
memories. Mr. Rees-Jones underwent 
10 hours of surgery on Sept. 4 to re- 
construct bis face. Le Figaro said Mr. 
Rees-Jones had given no indication of 
what had happened, and that he had not 
been asked about the crash. 

• Nine photographers and one mo- 
torcyclist for a photographic agency 
are under investigation on suspicions 
of manslaughter over the accident. 

They assert that the Mercedes was 
far in front of them when it slammed 
into apiilar at high speed, and that the 
main responsibility rests with the 
driver, Mr. Paul, 41, who was three 
times over the legal alcohol limit for 
driving and who also had taken Prozac 


ther of Dodi and owner of the Ritz 
hotel, where Mr. Paul was employed, 
will not ask for any more rests on the 
body of Mr. Paul, his lawyer said Fri- 
day. (Reuters. AFP. APj 

■ Elton John Balks on Videos 


and another description drug. 
A judicial source said that 


A judicial source said that a post- 
mortem showed that Mr. Paul's liver 
was normal, bolstering his family's 
contention that he was not a chronic 
alcoholic. Mohamed al Fayed, the fa- 


Elton John has refused to let footage 
of his funeral tribute to Diana appear in 
videos being produced by the BJBC and 
Independent Television News, The 
Associated Press reported from Lon- 
don. 

"We asked for an unconditional 
guarantee from both companies that all 
proceeds and profits from the videos 
would go to the memorial fond.” a 
spokesman for the singer was quoted 
as saying- "But neither organization 
was prepared to do that” 

The Daily Telegraph said Mr. John 
was unhappy that no more than £330 
(S5.45) from the retail price of £12.99 
for each video would go to the fund, 
which was set up to raise money for 


charities that Diana supported. 

The BBC and Independent Televi- 
sion News asserted that they would not 
profit in any way from the videos, 
which are to be released next week. 
They had hoped to include clips of Mr. 
John singing his reworked hit song 
"Candle In the Wind” — known as 
"Good-Bye England's Rose” — at 
Diana’s funeral on Sept. 6. The paper 
quoted Mr. John's spokesman as say- 
ing that Independent Television News 
had offered to donate £3 from each 
video to the fund. 

"We think they should give a lot 
more." the spokesman was quoted as 
saying. "We have done that with the 
single, so we don't see why the same 
can 'r ao for the video. ” 


News reports said record shops had 
ordered 1 3 million copies of the sound 
recording of Mr. John’s tribute. All 


profits from the single will go to the 
fond. and the government has said it 


will contribute the sales tax. 


Judge Finds American Airlines trave 

Guilty in 1995 Colombia Crash Deutsche BA to Cut 

■ — '■■-■ j- s — ; : wr<» wrntA In hi<! rii>ri«nn thar “nn Berlin- London Route 


TRAVEL UPDATE 


Munich airport, which will speed up 
turnaround times. Deutsche BA said. 


By Matthew L. Wald 

Sew York Times Senior 


reports of threats to jobs and safety. 

: The atmosphere is so charged that i 


: The atmosphere is so charged that tile 
NATO-led Stabilization Force for Bos- 
nia has brought in more than 3,000 
additional soldiers, most of them Amer- 
icans. They will bring the force’s man- 
power in Bosnia to about 36.000 sol- 
diers. 

^ -The elections "inflame passions in a 
way we haven't seen in Bosnia in a 
couple of years,” said David Foley of 
the Organization for Security and Co- 
operation in Europe, which is oversee- 
ing the ballot. 

: The organization's $30 million plan 
tp run the elections, not merely observe 
them, is one of the most costly and 
extensive ever. Some 2,750 voting su- 
pervisors and other monitors have 
fanned out over the country, more than 
one for every polling station. Each has a 
personal evacuation plan in case of trou- 
ble. 

. About 2.5 million people have reg- 
istered to vote and ballots will feature 83 
parties. 9 coalitions and 159 independ- 
ent candidates, most of them obscure. 

Just holding the elections is daunting 
enough. They were postponed twice last 
year in the face of fraud and other trou- 
bles. 

This year has been no less difficult. 
The main Serbian and Croatian parties 


WASHINGTON — A federal judge 
has found American Airlines guilty of 
willful misconduct in the crash of its 
flight from Miami to Cali, Colombia, in 
December 1995. a decision that elim- 
inates the damage cap specified by in- 
ternational law. 

The judge’s decision, which will be 


appealed, exposes the airline to millions 
of dollars of damages for each of the 15 1 


of dollars of damages for each of the 15 1 
passengers who died. Hie plane hit a 
mountain after the crew entered the 
wrong data into a navigation computer. 

The judge, Stanley Marcus of U.S. 
District Court for the Southern District 
of Florida, granted a motion for sum- 
mary judgment by the lawyers for the 
passengers, about two-thirds of whom 
were Colombians traveling for the 
Christmas holiday. 


He wrote in his decision that “no 
reasonable jury could find that acts of 
the pilots of Flight 965 — and in par- 
ticular the pilots' decision to continue 
their descent at night from a grievously 
off-course position in mountainous ter- 
rain — amounted to anything less than 
willful misconduct” 

Jury selection in the passengers’ law- 
suit against the airlines was to have 
begun Tuesday. Aviation lawyers said 
Thursday they could not recall another 
case in which a judge had made such a 
ruling without letting an airline present 
its case to the jury. 

Funding an airline guilty of willful 
misconduct is not unusual That is what 
happened in the case of Pan Am Flight 
103. which was blown up over Lock- 
erbie, Scotland, in 1988, and in the 1983 
case of Korean Air Lines Flight 007, 
which flew into Soviet airspace, where 
Sovier aircraft shot it down. 


MUNICH (Reuters) — The German 
airline Deutsche BA is cutting its route 
from Tegel airport in Berlin to London' 
Gatwick because it had not performed as 
well as expected economically. 

Deutsche BA. which is owned by 
British Airways and a number of Ger- 
man banks, said that the service, which 
began in January 1996, would cease 
Oct 7. The airline flew the stretch twice 
daily under British Airways flight num- 
bers and was mainly used as a shuttle 
service to British Airways’ long-haul 
routes from Gatwick. 

Deutsche BA said the freed-up re- 
sources and capacities would be used to 
increase efficiency and to help consol- 
idate its domestic business in Germany. 
Among measures planned are schedul- 
ing improvements on routes flying from 


Athens Airport Delays 

ATHENS (AP» — Hundreds of in- 
ternational passengers were stranded here 
Friday as dozens of Olympic Airways 
flights «ere delayed during a work-to- 
rn le strike by its flight attendants. 

Some flights, including those for 
Australia and South Africa, were 
delayed for more than one day. Euro- 
pean flights suffered delays of more 
than three hours. Domestic "flights were 
generally not affected. 

Flight attendants, who say the airline 
needs to hire more of them, have refused 
to work overtime or back-to-back flights, 
leaving many planes without the nec- 
essary crews. They want the government 
to exempt Olympic from a regulation 
restricting the number of employees that 
can be hired by a state company. 


cuuuuy, mure man 

l station. Each has a 717 ID > /* A 1 •• • /I • / 

plan in case of frou- new Route jor Azerbaijani Oil 

a people have reg- rwi OI • j f T> • Q 

illots will feature S3 lo skirt Chechnya, Russia bays 


WEATHER 


Turkish Islamists 
Assail Military 


ANKARA — Turkey's Tenser 
ruling Islamists used the an- 
niversary of the 3980 miliimy coup' 
on Friday to denounce the influence , 
of the country’s armed forces, the \ 
Anatolian News Agency reported.-' = 
“The anti-democratic traces qf. 
Sept. 12 are stifi evident,” the:Wcg. r 
fare Party’s deputy chairman; Ak 
met Tekdal, said in reference to ihe-j 
dav in 1980 when the 
staged its third coup in 20 yeatsr-: v 
“Those who see themselves as - 
obliged to protect the republic cai^ 
oust the political power,’ he said at ; 
a news conference. * ‘The name oflr/i 
is a militarist system.” 

The country 'spowerful generals^ 
plaved a key role in easing NeC-^j 
mettin Erbakan 's Welfare Pity out 3 
of government in June. (Reusers} '• 


Lithuanian Gives ; 
Apology to Israel 


MOSCOW — Seeking to re- 
solve a dispute with Israel Pres- 
ident Algirdas Brazauskas - of 
Lithuania apologized for any 
Lithuanian links to World War u 
massacres of Jews, and. vowed to 
bring responsible persons to 
justice, a news agency said Friday. 

The controversy began whenthe 
Israeli ambassador to Lithuania, 
Ode d Ben-Hur, told Parliament on 
Wednesday that the country had 
failed to f ulfill promises to .trace., 
and try Lithuanians involved ^irh 
German invaders in mass shooting 
of Jews. 

During World War IL Nazis and 
Lithuanian collaborators wiped out . 
almost all Jews in the country, 
killing an estimated total of 
200,000 people. 

Mr. Brazauskas spoke Thursday 
at a meeting maiting the 200th 
anniversary of the death of a Jewish 
sage and Talmudic scholar, Elias - 
Kremer, known as Eliyahu, Gaon; 
of Vilnius. (API 


Madrid Court Puts. 
A General on Bad 


MADRID — An aft-decoraad 
Civil Guard general was ordered 
Friday to post a 25-million-pesera ", 
(SI 64,000} bail because of allega- 
tions he was involved in the killing 
of Basque separatists during a coy- ■ 
ert Spanish counterterrorism cam- 
paign. 

General Enrique Rodriguez •; 
Galindo, former commander of the 
country’s principal countertenor- . 
ism operation in the northern 
Basque region, was ordered to post * 
the bail within three days, his raw- • 
yers said in National Court. 

They said the general declined to 
testify before Judge Javier Gomez 
de Liano, who is investigating the : 
kidnapping, torture and murder of 
two Basques in 1 983. (AP) . . 


Irish Suspect Bomb 


DUBLIN — A car explosion Fri- 
day in the center of Drogheda, 50 
kilometers (30 miles) north of Dub- 
lin, was suspected to be a bomb, the 
police reported. 

First reports said no one was 
injured. 

The blast came three days before 
the scheduled start of peace ne- 
gotiations on the future of Northern 


Ireland. 


Europe 


Forecast for Sunday through Tuesday, as provided by Accu Weather. 


Affcnce Fmnee-Pressc 

MOSCOW — Russia will build a 
pipeline to export Azerbaijani oil that 
will go around Chechnya, Deputy Prime 
Minister Boris Nemtsov was quoted as 
saying Friday by Interfax news agency. 

Russia threatened Wednesday to 



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scrap an agreement with Chechnya to 
pipe oil from Azerbaijan across the se- 
cessionist republic unless the safety of 
its workers repairing the pipeline was 
guaranteed. 

On a trip to western Siberia, Mr. 
Nemtsov, who is also the energy min- 
ister, said the new pipeline would be 283 
kilometers (175 miles) long, from the 
Dagesian-Chechnya border to the Rus- 
sian republic of North Ossetia 


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He said the pipeline would cost $200 
illion and would be built "as soon as 


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million and would be built "as soon as 
possible." Otherwise,” Mr. Nemtsov 
said, "the consortium that is to exploit the 
Azerbaijan oil fields could criticize us.” 

The only existing pipeline for ex- 
porting Azerbaijan’s rich oil deposits 
links Baku with the Russian port of 
Novorossiysk, on the Black Sea, via 
Chechnya. 

After months of negotiations. Mr. 
Nemtsov signed an agreement Tuesday 
with the Chechens under which Mos- 
cow would pay Chechnya to put die 

pipeline back into condition and for 
using it to ship the first 200,000 tons of 
oil to be exported by an international 
consortium by the end of this year. 


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Sunday through Tuesday Turkey Tuesday. Northern thundarsiorrn Tuesday 
Soaking rains will continue Spain have showers, bui Soaking rain will continue Vkmuww 
across Newfoundland. sunny and warm in the across southcentral china. — 

SOultl. ZMno 


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INTERNATIONAL 11ERAJ.D TRIBINE, WEDNESDAY, SEPTEMBER 


PAGE 3' 



INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 13-14, 1997 


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Haiti Ferry Survivor Recalls the Children’s Cries 


By Serge F. Kovaleski 



“S^OUIS. Haiti - Mo- 

Pridfr,n f °¥ the 563 Ihf 

Conavc. Dadsoq FontlU 

thp. ciu' ^ n,er among friends and 
Tran P f °!i ™P in S children were 
J5?™* ^ t0 a cacophony of 
.7,f s - P ,eas for divine intervention 
2 .,^ nz ^ 25 Ihe ferr y capsized, 
suddenly, water gushed through 
he upper and lower decks where 
hundreds of passenger became en- 
fwmed iq a human crush — many 
trapped behind locked doors. 

, What I sadly remember is all 
mese people being thrown on top of 
e ® c h other and begging God to save 
them, to give them rome kind of 
miracle," Mj-, Fond is said this past 
week. “There were children near 
me w ho eventually drowned and 
were yelling, ‘I don’t want to die, 1 
aon t want to die.’ ” 

The sinking of the ferry at dawn 


Monday — maritime disasters hit 
Haiti with tragic regularity — 
claimed an estimated 245 lives. 

It is believed to have been caused 
by the passengers themselves, who 
kept shuffling from one side of the 
boat to the other in an effort to stop it 
from listing as it approached the 
beach here on its regular commuter 
journey from the nearby island of 
Gonave. Finally, the human weight 
caused the ferry, which survivors 
say carried no lifejackets, to topple 
to the left and capsize. 

In what he attributes to an act of 
God, Mr. Fooliis, who had been in 
Gonave to play in a soccer game, 
was thrown out of an open door on 
the second level of the boat. Though 
he cannot swim, the fit 25-year-oJd 
managed to thrash and kick his way 
about 30 meters, close enough to 
shore so that he could stand. 

“The whole thing was complete 
panic, but God blessed me in many 
ways,” he reflected. 


Mr. Fonilis is one of an estimated 
35 passengers who lived through the 
accident, which has focused atten- 
tion on the lack of regulation cov- 
ering transportation in this country, 
as well as on the political paralysis 
that has taken hold in Haiti. 

Grieving families contended that 
if the government of President Rene 
Preval had moved sooner on plans to 
construct a dock at the beach here, 
from which several commuter ferries 
operate each day, perhaps the ca- 
tastrophe could have been avoided. 

According to survivors, the boat 
keeled over while turning around in 
rough waters near the shore so pas- 
sengers could disembark from the 
rear and be carried to land by work- 
ers who charge the equivalent of 
about SO cents per person. 

At issue is the delivery of tens of 
millions of dollars in international 
assistance to Haiti, still the poorest 
country in the Western Hemisphere, 
that is held up because of delays by 


the government in carrying out key 
initiatives, including the privatiza- 
tion and m od e rnizati on of such en- 
terprises as the phone company. 

As for effectively regulating 
transportation here — including the 
private ferry services, which for 
many Haitians are the only means of 
traveling to certain parts of this is- 
land nation because of inadequate or 
nonexistent roads — one Presiden- 
tial Palace offi cial stud, 4 ‘Yes, there 
are ru les and regulations, but there is 
no money to enforce them. 

At the rocky shore near where the 
wreckage lies under about 35 meters 
of water, hundreds of families suffer 
through the macabre task of waiting 
to find out if die bodies of their loved 
ones have been recovered. Ronell 
Mark, 26, who lost six relatives in 
the sinking, could barely contain his 
rage toward the government. 

“We Haitians are not a bunch of 
dogs. I feel so down and depressed as 
a result of the government not doing 


enough." he said. "Public trans- 
portation. whether on the road or the 
sea. must be regulated by the state, or 
else we end up with this horror." 

Although a number of survivors 
have said that about 700 people 
were on the feny — including many 
children, who routinely are not re- 
quired to pay — the vessel's op- 
erator has insisted to the authorities 
that no more than the legal limit of 
265 ticket were sold for the trip. 

Haitians have held demonstra- 
tions and burned tires in this town 
and have accused the government 
and Urnted Nations personnel as- 
sisting in the recovery operation of 
taking too long to retrieve the dead. 

"Whar we have of a government 
has no respect for the dead or those in 
mourning,’ ‘ said Jacques Senau who 
lost eight relatives in the capsizing, 
including his sister, brother and 
uncle. "Let’s go. Bring up our rela- 
tives so we can see them for the last 
time and bury them with dignity." 


The Old Way 
Wins Out as 
Mexican Party 
Picks Leader 


New York Times Sen-iee 

MEXICO CITY — The governing 
political party has chosen a new leader 
after two days of stormy wrangling in 
which President Ernesto Zedillo ab- 
ruptly abandoned his push for greater 
democracy within the party. 

Mariano Palacios Alcocer, 45. a fed- 
eral deputy and former state governor, 
was chosen Thursday to lead the In- 
stitutional Revolutionary Party. 

Mr. Zedillo had urged the party to 
organize a democratic election for the 
post, but in the end made his own pref- 
erence for Mr. Palacios known to party 
leaders at a very traditional closed-door 
meeting of the party. 

Mr. Palacios is not controversial But 
the autocratic way the president chose 
him antagonized reformers and old 
guard militants of the party at a time 
when it is facing strong competition. 

The Institutional Revolutionary Party 
has governed Mexico for seven de- 
cades, but in elections July 6 it lost 
control of the lower house of Congress. 
Since then the party has been under 
pressure to change. 

“We thought the old authoritarian 
style was gone, but this just shows that it 
is still working,” sard a veteran party 
militant. He boycotted the meeting in 
which the party’s leaders held a pro 
forma vote to ratify the selection of Mr. 
Palacios. 



FLOWERS FOR ALLENDE — Hortensia Bnssi, widow of Pres- 
ident Salvador Allende, viewing wreaths in the presidential palace 
in Santiago where the Chilean leader died 24 years ago in a coup. 


China to Return Big U.S. Computer 


By David E. Sanger 

New York Tunes Service 

WASHINGTON — China has 
agreed to return to the United States a 
powerful supercomputer that was im- 
properly transferred by Beijing to a mil- 
itary institute this year, U.S. officials 
have disclosed. 

The computer was shipped in Feb- 


ruary to the China Scientific Institute in 
Beijing. But it moved instead through 
Hong Kong and ended up at the Chang- 
sha Institute of Science and Technol- 
ogy, also known as the National De- 
fense Science and Technology 
University. 

The case is the second in a year in 
which China has been detected using 
front companies to buy equipment for 


A Cheery Health Report for U.S. 


Neve York Times Service 

WASHINGTON — Americans are 
living longer than. ever, the infant death 
rate has reached an all-time low, and the 
percentage of teenagers giving birth has 
declined for the fifth straight year, with 
the drop among black teenagers nearly 
double the decline among whites, ac- 
cording to an analysis or the nation’s 
vital statistics released by the Centers 
for Disease Control and Prevention. 

Officials of the center in Atlanta said 
the trends reflected “broad gains in the 


LARRY’S PARTY 

By Carol Shields. 339 pages. $23 .95. 
Viking. 

Reviewed by Michiko Kakutani 

A S we’re repeatedly told, Larry 
Weller, the hero of Carol Shields s 
latest novel, is “an absolutely normal 
and typical human being’ — _ ‘ 
istically average.” “standard issue, 
“condemned, no matter what his ac- 
complishments, to be ordinary, and to 
pass slowly, painfully, through each °* 

life’s orderly prescriptive stages. 

■ ‘ ‘The evidence is in,” Shields wntes. 
“Whether the cause is genetic or ac- 
cidental, he knows himself doomed to 
live inside the hackneyed parentheses ot 
predictability, a walking, head-scratch- 
ing elich& first the dreamy child, next 
the miserable adolescent followed 
closely by the baffled young husband, 
and now, too suddenly, a settled 40- 
y ear-old white male professional who 
chafes at that number 40." 

Though this constant harping on 
Larry’s ordinariness is a little imiating, 
though Shields occasionally tries too 
hard to make him into a representative 
man <late- 20 *-«ntuiy modsl, **■£ 
workine-dass roots), Larry Welier 
emerges from this r ovel m remar kaHy 
sympathetic, idiosyncratic human be- 
ine a male counterpan to the Every- 

woman Shields created in herF^h^r 

Prize-winning novel The Stone D 

ar *TTie ^btagest problem of “ I f n Y’ s 
Party** is'rLf Lany often sounds un- 
cannily like that most famous Everym3 


nation’s health,” thanks in part to ag- 
gressive prevention campaigns and an 
increase in the use of condoms to com- 
bat sexually transmitted diseases. 

The report also shows a narrowing in 
the gap in life expectancy between 
blacks and whites, although whites can 
still expect to live more titan six years 
longer. 

Deaths of AIDS sufferers dropped 26 
percent from 1995 to 1996, and the 
number of deaths from cancer and heart 
disease fell as well. 


BOOKS 

in recent fiction: John Updike’s Rabbit 
Angstrom. Consider, for instance, this 
passage: “Lately Larry’s sad most of 
the time. Even when he’s signing con- 
tracts or eating or laughing out loud or 
att emp ting to make love to Beth he feels 
the undertow of something missing. 
He’d like to shrink back to his old life, 
but the noisy amplitude of these recent 
years has to find someplace to go. And 
he’s tired — tired of his name, tired of 
being a man, tired of the ghostly self 
he’s chained to and compelled to drag 
around.” . , 

Larry’s melancholy apprehension of 
middle age, his vague spiritual long- 
ings, his wonderment at the shape his 
life has taken — all echo Rabbit s ex- 
perience, as do his marital woes, his 
groping attempts to relate to his son and 
his flummoxed reaction to the changing 
world around him. Even odder is the 
fact that Shields's prose often eddies 
into the gracious, ruminative rhythms 
of Updike’s later Rabbit novels. No 
wonder that the reader begins to think 
of Larry as an emotional cousin or 
Rabbit’s — who just happened togrow 
up in Winnipeg and somehow ended up 

m ft h! when Shields stops trying so hairi 
to give us a wide-angle take on Lany s 
life and allows her own strengths as a 
writer to emerge that her tale assumes 
originality. Using her fierce gift for ob- 
servation; a natural storytelling talent 
and a gently comic charm, she gives us a 
nicely tactile sense of Lany s daily h , 
and hv delving i nto the stream of con 
SiSs ramble of Lany's thoughts, 
fhe”ives us a vivid sense of h,s 


military sites and has been forced to 
return iL 

Last year, after long negotiations, 
Beijing gave up a factory-sized machine 
tool used to stretch the skins of aircraft 
Sold to China for use in a commercial 
aircraft factory that was never built the 
equipment ended up at a site that made 
military aircraft. 

In the latest case, officials say die 
computer, produced by Sun Microsys- 
tems, is still at the military-run Chang- 
sha Institute. But after complaints from 
U.S. officials, China's trade ministry 
agreed to return the machine. 

The return comes at a politically crit- 
ical moment. The U.S. Congress is con- 
sidering legislation to roll back a series 
of legal changes that the White House 
pushed through in 1995 do make it easier 
to export sophisticated computers. 

The congressional effort was promp- 
ted by the Chinese case and a similar 
diversion this year involving Russia’s 
Ministry of Energy, which designs nu- 
clear weapons. 

The Russian authorities have refused 
U.S. requests to return two machines. 


moods, his feelings and his stumbling 
efforts to connect with those around 
him. 

We watch as Larry tries to cope with 
his family’s shadowed past and as he 
gingerly steps out into a life of his own. 
Awkward and self-conscious as a boy, 
I'arry sidles into adulthood, allowing 
chance and luck and the will of others to 
dictate his fortunes. He stumbles into a 
quick first marriage with Dome, a 
sharp, competent woman with “a gift 
for disappointment”; falls into a job as a 
florist, and soon finds himself married . 
to a garrulous feminist scholar named 
Beth. 

It is only as Lany sinks back into the 
upholstered comfort of a prosperous 
middle age that he begins to question his 
capacity to love and to marvel at the arc 
of his life that has taken him from a blue- 
collar childhood in Canada to a black-tie 
existence in Chicago. 

As she did in earlier books like * *The 
Republic of Love” (1992), Shields uses 
her hero's unusual profession both to 
Illuminate the defining role that work 
can play in an individual’s life, and to 
provide her stoiy with a controlling 
metaphor. 

New York Times Service 


NEW AUTHORS 

PUBLISH YOUR WORK 
ALL SUBJECTS CONSIDERED 
Authors worid- wide invited 
Write or send your manuserxd to 
MINERVA PRESS 
201DBROUPTONRD LONDON SW730Q 


Picking Top Doctor 

Chief of Disease Control Centers 
Nominated for Surgeon General 

By James Bennei 

New Yiitl. Times Sen ice 

WASHINGTON — Trying to fill a high-profile position 
that has been vacant for more than two years. President Bill 
Clinton on Friday nominated Dr. David Satcher. director of 
the Centers for Disease Control and Prevention, ro be surgeon 
general. 

Administration officials also said that Dr. Satcher — an 
expert in sickle-cell disease whose wide range of public health 
concerns extends to illegal drugs, gun violence, tobacco, and 
teenage pregnancy — would also be appointed assistant 
secretary for health ai the Department of Health and Human 
Services. That combination, sought by Donna Shalaia, the 
department’s secretary, would add a policy-making job to die 
surgeon general's role as public health spokesman. 

Mr. Clinton’s last nominee for surgeon general. Dr. Henry 
Foster Jr., was blocked in the Senate in June 1995 after a 
lacerating confirmation battle. Republicans objected to Dr. 
Foster’s record of performing abortions in his 38-year career 
as an obstetrician-gynecologist 

Dr. Foster was nominated after the White House in Decem- 
ber 1994 ousted Dr. Joycelyn Elders, whose views on drugs 
and sexuality had outraged conservatives. 

Administration officials expressed confidence that Dr. 
Satcher who in addition to his clinical work practiced medi- 
cine for several years as a family doctor, would pass muster. 

"He’s gone through one of the most vigorous vetting 
processes on prior statements and views, given the experience 
with Dr. Foster.” said one official, speaking on condition of 
anonymity. 

The official said that senators would be impressed with Dr. 
Satcher’s “texture in his own professional career in dealing 
with a wide spectrum of public-health issues.” 

Another official, speaking on condition of anonymity, said 
that while Dr. Satcher, 56, had treated patients. * ’he has never 
performed an abortion.” . 

Some senators may choose to question Dr. Satcher about 
his work as a consultant to Hillary Rodham Clinton’s task 
force on hCaltIPcare 'reform. And in one remark that might 
raise some conservatives’ eyebrows. Dr. Satcher said in 1993 
that he was comfortable with Dr. Elders’s support of condom 
distribution in schools. 

Away From Politics 

• A former U-S. government informant pleaded guilty to 
perjury, admitting that he concocted a story that a government 
drug agent allowed a bomb on board Pan Am Flight 103, 
which exploded over Scotland in 1988. The informant faces 
up to five years in prison and a $1.25 million fine. ( Reuters ) 

• Nebraska can suspend the driver’s licenses of parents 

who fall at least 90 days behind on paying child support, under 
a new state law. (AP) 

• Armenian-American groups accused the National Park 

Service of censorship for removing from an Ellis Island 
exhibit 1 5 photographs depicting killings of their ancestors by 
Ottoman Tories. (AP) 

• Mexico filed a clemency petition on behalf of one of its 

citizens who faces execution in Virginia next week, saying he 
was not informed of his rights under a treaty. (AP) 


POLITICAL NOTES 


Charlton Heston Likes His Guns 

WASHINGTON — Charlton Hesion, perhaps ihe 
besi-known spokesman for the National Rifle Asso- 
ciation, has delivered a blistering defense of gun own- 
ership and excoriated news organizations for what he 
called their gullibility in swallowing anti-gun argu- 
ments. 

Mr. Heston, who played Moses in '’The Ten Com- 
mandments,’ 1 decreed that the U.S. Constitution's 
Second Amendment — which refers to Ihe “right of the 
people to Veep and bear arms” — was the "most vital” of 
all the amendments and was "more essential” than the 
First Amendment, which guarantees freedom of religion 
and of the press, among other things. 

"It is America's first freedom, the one that protects all 
the others,” Mr. Heston said of the Second Amendment 
in a speech at the National Press Club in Washington. 

Gun-control organizations called the speech that of an 
extremist, and they said it would hurt the gun lobby's 
cause. 

“His interpretation of the Second Amendment is 
unique to him and his organization and has never been 
upheld in court,” said Jake Tapper, a spokesman for 
Handgun Control Inc. (NYT) 


Call to Protect Medical Records 

WASHINGTON — Federal health officials have pro- 
posed the fust comprehensive ground rules for protecting 
the confidentiality of medical records in an era of ex- 
ploding computer information about people's medical 
histories. 

The standards, released Thursday by Health and Hu- 
man Services Secretary Donna Shalaia, would require 
that doctors, hospitals and insurance companies release 
individual patient records only when needed for medical 
treatment and payments. The' roles would establish new 
federal criminal penalties for misusing such information, 
and would guarantee patients the right to see their records 
and find out who else has looked at them. 

But in a provision that drew swift denunciations from 
privacy advocates. Ms. Shalaia proposed a broad ex- 
ception for law enforcement authorities, who would 
continue to enjoy relatively ready access to doctors’ 
records — with the names of patients attached and 
wichour those individuals* knowledge. Those investi- 
gators also would be allowed to keep those records 
indefinitely and use them as they saw fit, conceivably 
even to prosecute a patient. (WP) 

House Ethics Panel Reopens 

WASHINGTON — For the first time since the House 
speaker. Newt Gingrich, was reprimanded and fined, the 
House ethics committee was open for new complaints 
once again Thursday. But the panel still lacked most of its 
members and an agreed-upon set of new operating 
rules. 

This state of limbo came about as the House finally 
allowed a seven-month moratorium on filing new ethics 
cases to expire Thursday morning just after midnight The 
moratorium had been declared in February to allow a 
bipartisan task force to look at ways to overhaul the 
workings of the committee following die rancorous par- 
tisan battle surrounding Mr. Gingrich, which fractured 
the committee and paralyzed the House. (NYT) 



x -5-. WSfciffli 


Breaking the News continues with the spotlight on the 
6G's; a time of experiment and change. The Soviets 
created the biggest new programme in the world by 
satellite, while American audiences viewed the first 
presidential debate between Nixon and Kennedy. 


WORLD’ 




RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL 
CHURCH Interdenominational & 
Evangelical Sunday Service 10;00 
am & 11:30 am/ K*ds welcome. De 
Cuaerstraat 3. S. Amsterdam Into. 
020-641 8812 or 020-6451 653. 
FRANKFURT 

English Speaking International 
Catholic Parish, St Leonhard. Alte 
Mainzer Gassa 8. 6031 1 Frankfurt, 
Germany, Tel/Fax 069-283177. Mass 
schedule: Saturday 5 pm, Sunday: 70 
am Confessions: is how before Mass. 


St Mary’S Church ter „ — 

Cathodes AtenbftJenvog 7. OtemrseV 
Oberstadten (Church of St Petrus 
Caseseus). HcN Mass. Sun. 11C0 Pastor 
Fr. Bnrerts. 069-71911430 (home) or 
06171-25963 (Office). 

FRANCE/TOULOUSE 
HOPE INTERNATIONAL CHURCH 
(Evengefcal). Sunday 630 pm Le Grand 
NoWe Hotel. 90 av. de Comabarrieu. 
Bfe£J«C.TeL 056274 1 1 55. 

FRENCH RIVfERA/GdTE D'AZUR 
MCE: Holy Trinity (Anglican). 11 rue 
BA. Sun. Vl; VofeE: SHuQhs. 2Z av. 
RfefeBnce.9amTet33£M®871983. 
MONTE CARLO 

MONACO CHRISTIAN FELLOWSHIP 
Worship Service. Sundays: 1 la.m. 
9, rue Louts Notary. Monie Carlo. 
TeL 377 82 165647. 

PARIS and SUBURBS 
EMMANUEL BAPTIST CHURCH - 56. 
rue des Bons-Ralslns; 92500 RueiF 
Maimafson. Worship: 9:45 - 11:00 
a.m.Sunday School. For more info 
call 01-47 51 29 63 or check: 

httj#^4BCCite£omPpisMekon352. 
HOPE INTERNATIONAL CHURCH 
Hotel Orion at Paris-Wtetense. 8 w de 
tetiy. Worsty) Sundays, 930 m Rev. 

, Dougfas Mfer. Pastor, f: 01 43 330406 
1 M&rul to la Defense Espfenada. 

SAINT JOSEPH'S CHURCH (Roman 
OetdcV IMSS N ENGUStt SN 630 pm 
Sun. 10 am.. 12 midday. 6:30 P-m. 
50, avenue Hocfte. Pare ffih. Tel.: 
01 42272856. Mbki Charts da Ga*^ - Etna 
RELIGIOUS SOCIETY OF FRIENDS 
(QUAKERS). Unprogrammed (silent) 
meeting for worship. Sundays 11 am 
CaWuuater fe&natkinaL m bis. iue 
da Vaugimrd. 75006 Pahs. AS Wefcome. 
+33 01 45 48 74 2& 

TOKYO 

ST. PAUL BffBWAHONAL LUTHERAN 
CHURCH, near Udabashl Sta TeL 3261- 
374a Mtoship Saves 900 am SunJays. 
TO0TO UWON CHURCH, ne® Omcteatto 
Steuay Sl T eL 3«K)0», Wre&p Sawes 

Stfday - B30 & 11S0 am. SS a 945 am 


SWITZERLAND 

BASEL CHRISTIAN FELLOWSHIP 
Engteh -Speaking non-ctenominstloneL 
Tel. +41 61 302 1674. Sundays 1030 
NBUete Strasse 131 CH-4066 Basel 

ZURKH-SWIIZBUAND 

ENGLISH-SPEAKING CATHOLIC 
MISSION; SL Anton Church, 
MinervastrsBe 83 Sunday Mass: 8:30 
am & 1130 am. Services held in the 
oypl c#Sl Amen Chuch. 

THE EPISCOPAL CHURCHES 
Of EUROPE (AngScon) 

PARIS and SUBURBS 

TIC AMERICAN CATHEDRAL OF THE 
HOLY TRWTIY, Sul 9 & 11 am, 10*5 
am. Sunday School for children and 
Nursery care. Third Sunday 5 p.m. 
Evensong. 23, avenue George V. 
Paris 75008. TeL: 334JI 53 23 64 00. 
Metro: George V cr Ahna Mareeau, 

FLORENCE 

srr. JAMES' CHURCH. Sin 9 am Rhs I 
& 1 1 am R4 b 1 Via Bernardo Ruceiai 9, 
5012a Ftoraree. lay. TeL 3965 29 44 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING 
(Epi&copal/Angllcan} Sun. Holy 
Communion 9 & 11 am Sunday School 
and Misery 10*5 am Sebastian ffinz 
Sl 22. 60023 FranWul Germany, in. 2. 
3 MquetAfee. Tat 4969 55 01 64. 

GENEVA 

EMMANUEL CHURCH. 1 st 8 3rd Sun. 
1 0 am. Eucharist 2nd & 4tii Sai Morning 
ftayer.3njedeMcrtihotK.i33i Geneva. 
StMOBtand. TeL 41/22 732 80 78. 

MUNICH 

THE CHURCH OF THE ASCENSION, 
Sun. 11:45 a.m. Holy Eucharist end 
Swday School Nuseiv Cam provided. 
Seybothscasse 4. 61545 Munich {Har- 
laching). Geminy. TeL 4809 6481 65. 


ST. PAUL'S WTTHN-THEWALLS. Sun 
830 am. Holy Eucharist Rife 1 1 030 am 
Choral Eucharist Rite II: 10:30 a.m. 
Church 5ctad fcrdiijBnS Nursery care 
provided: 1 pjTL Spanish Eucharist Via 
Napoi 58. 00184 Rome. TeL 39 ® 488 
3339 or 39/6 474 3589.. 


BRUSSELS/WATERLOO 
ALL SAINTS' CHURCH, 1st Sun. 9 & 
11:15 am Hdy Eucharist wtih Chkfterfe 
Chapel at 1 1:15. AI ctier Smdays: 1 1:15 
am Holy Eucharist and Sunday School 
563 Chaussde de Louvain. Ohain. 
Begum. TeL 382 384355a 
WIESBADEN 

THE CHURCH OF ST. AUGUSTINE 
OF CANTERBURY. Sun. 10 am. 
Famtiy Eucharist Frankfurter Strasse 3. 
Wtesbadsn. Germany. TeL 49611306674. 

EUROPEAN 

BAPTIST CONVENTION 

BERLIN 

I.B.C, BERLIN. Roihenburo Str. 13. 

S ). Sunday. Bible study 10.45. 
Service 12.00 noon. Charles 
poser. TeL 030-7744670. 
BRATISLAVA - SLOVAKIA 
LB.G.. The luventa, Karloveska 64, 
Aurftorium 104B. Worship Sun. 1000. 
TeL: (07? 715367 

BREMEN 

LBJ, HoheNohestr. Her man rvfiose-Sfr. 
Worship Bun. 17:00, Pastor telephone: 
0421 -7864a 

BUCHAREST 

LB.C.. Strada Popa Rusu 22. 3ti0 pm 
Oorted Pastor AAe Kemper. TeL 312 3860 

BUDAPEST 

LB.C-. meets at Morics Zstamond 
Gimnazium, Torokvesz ur 48-54. Sun. 
1000. TeL 2503932. 

BULGARIA 

LBXL. World Trade Center. 36, Drahan 
Tzankov Bhrd. Worship 11 .00, James 
DiAft Pastor. TeL 668 8GB. 

DARMSTADT - GERMANY 
I.B.C„ WHhelm-Leu6Chner Str. 1 04, 
Damstadt-Griesliebn. ESble Study Sun. 
16SJQ. T6L (0011)941-0905. 
FRANKFURT 

INTERNATIONAL CHRISTIAN PEL- 
LOWSHP. Ev.-ftaMrchfche Gemetada. 
Sodanerstr. 11-18 83150 Bad Hontwu 
Sunday Worship. Nursery S SS: 
1120 AM NBdweek ministries, Pastor 
Mlany. CaVfoc 061736272a 
BETHEL LB.C. Am Dachsberg 92 
(Engfah), Worst*) Sin. 1100 am. and 
600pm TeL 069-549550. 

HOLLAND 

TRNTY MIBMKTIONN- tovtes you to 
a Christ centered taSowship, July-Aug. 
Service 930 am Btoemcainp&Bn 54. 
Wassenaar 070-517-8034 misery pw. 
NICE -FRANCE 

LB.C. 13 rue Vernier. Engfeh sendee. 


ST. PAUL DE VENCE - FRANCE _ 
SL Paul da Vence- Ranee LBLC, Espace a 
Claire, Level tT. Bfcte Study Sun. 9:30. 
Hbafy&n 1045 Tet (0493)33>&a 

PRAGUE 

LB. FELLOWSMP, Vinohradska 9 60," 
Prague a Sun 1 1 =00. TeL (02) 31 1 7974. 

WATERLOO 

WATERLOO BAPTIST FELLOWSHIP 
Sun. 1900 at Sweetish Church, across 
ton MadDonafe TeL (02) 353 15B5. 

ZURICH - SWITZERLAND 
LB.C of Zurich, Ghafatiasse 31. 6803 
Ruschlfcon, Worship Services Sunday 
momhgs 1030. TaL- f-49100ia 

ASSOC OF INTa . 
CHURCHES 

BERLIN 

AMERICAN CHURCH M BERLIN, cor. 
ci Ctay ABee & Pctedamer Str„ S3. 930 
am. nbrahb 11 am TaL 0306132021. 

GENEVA 

EV1 LUTHERAN CHURCH 20 rue ' 
VBdate Sunday worshto 930. h German 
11 IX) in Encash. Tet (02^31 05009. 

JERUSALEM 

LUTHERAN CHURCH of the Redeemer, 
Old CSy, AAirisfc-n Rd. Engfcti worship Sua 
9 am. AI ere welcome. TeL (02) 6261-049. 

PARK 

AMERICAN CHURCH IN PARIS. 
Worship 11:00 am 65. Ouai cfOrsay. 
Paris 7. Bus 63 ai door, Metro Atana- 
Marceauortau3fcte& 

ZURICH 

INTERNATIONAL PROTESTANT 
CHURCH English speaking, worship 
service. Sunday School & Nursery, 
Smdays 1130 am, SdiaroEngasse 25. 
TeL (0112625525. 

SYNAGOGUES | 

THE CONSERVATIVE JEWBH COM- 
MUNITY m PARIS "Adath Shalom' 
invites you to join idem for Rash 
Heshonnah sod Yom Wppur eenfces. Fbr 
delate and sate. phonB 01.4SJ53S7.47 
or write AdaSi Shriom. 22 tts rue tfes 

Befes fetes. 75016 Paris. 
COMMUNAUTE juive uberale - 
TOULOUSE. Join us in our new 
synagogue for wegty services and lor (ha 
upcoming High Holidays. Contact 
Emmanua Kte at 05JS2&3D-79 (630- 
aDOpm)afcas6fccgbiotouUr. 


T 






PAGE 4 



















PAGES' 


— 


international herald tribune, saturpay-sunday, September 13 - 14, 1997 


PAGE 3 


As Umpire, Albright Only Left the Players All the Angrier 


BRIEFLY 


By Serge Schmemann 

— Vru- >.t{ rim-, n u L . 

Bank — After 

vSm! !!T ^. bri £ hl concluded her brief 
yisir to the Friends School here and left 

ShoolS H f Sirens and 8 Uiirds - h, ? h 
‘JJ?r stude ?« pounced on remaining 

porters and teachers to pour out the 

wiii {r .l t, °i I l S n tbe - V bad hoped to share 
wuh the U.S. secretary of Sale. 

. .^he just kept repeating ‘the bomb, 
he oomb. She didn’t look at how all of 

T a H bemg P unis hed for this, how IDs 
are being taken away, how houses are 
oerng demolished. She didn't mention 


any of that." shouted Kami Nazzal. 

* 'Terror is wrong, but it’s wrong on 
both sides. “ interjected Y;tra Asad as 
others pushed 10 he heard. "But we're 
the ones who always get blamed. When 
seven Palestinians are killed at a check- 
point, when one i;. killed by settlers, we 
hear nothing." 

A day earlier, at the Israel Arts and 
Sciences Academy in Jerusalem. Mrs. 
Albright had heard the other hide. 

“Teenagers like me are losing their 
lives in acts of terrorism.' ' Galit Parvari 
had told her. "If Israel were to meet ull 
the demands of the Palestinian Author- 
ity, how could we be sure that terrorism 


won't be used as a bargaining chip for 
further negotiations and for Chairman 
Yasser Arafat's benefit in such nego- 
tiations'?" 

In reply to these, and to similar com- 
plaints and questions raised by Israeli 
and Palestinian leaders, Mrs. Albright 
offered moral and sometimes stem les- 
sons. Terrorism was the greatest evil 
and the major threat to the peace, and the 
Palestinians had to fight it with all their 
might. 

But the Israelis, too, she said, had to 
“refrain from unilateral acts" like ex- 
panding settlements, confiscating land. 
Taking away Jerusalem residence per- 


mits, demolishing houses and withhold- 
ing money owed to the Palestinian Au- 
thority. 

With the Oslo process essentially 
frozen and Prime Minister Benjamin 
Netanyahu locked in an escalating battle 
of mutual blame with Mr. Arafat, each 
side had looked to Mrs. Albright as an 
umpire who would penalize die other 
side and get the process moving again. 
But as she flew off to Damascus oq the 
next leg of her first Middle Eastern 

foray, the recriminations and frustra- 
tions seemed only louder. 

Mr. Netanyahu’s aides, who put huge 
efforts into focusing Mrs. Albright en- 


Total Israeli Freeze on Russian Projects 


Tlw Assocuirrti Press 

JERUSALEM — Prime Minister 
Benjamin Netanyahu has frozen ail 
major economic projects with Russia 
because he believes Moscow is help- 
ing Iran develop ballistic missiles. 
Israeli media reported Friday. 

Mr. Netanyahu informed the vis- 
it uig U.S. secretary of state. 
Madeleine Albright, on Thursday thai 
Israel had suspended plans to pur- 
chase large quantities of Russian nat- 
ural gas. the prime minister's senior 
policy adviser. David Bar-Iilan, said. 

Israel radio and the Ma'ariv daily 
newspaper reported Friday that the 
freeze did not apply only to the gas 
deal but to every big business trans- 
action between Israel and Russia. 

Mr. Bar-Clan said he was not cer- 
tain how extensive the freeze would 
be. “I would think that every major 
economic project would be suspen- 


ded,” he said, Mr, Netanyahu’s talks 
with Mrs. Albrighi focused Thursday 
on the growing danger that Iran might 
acquire nuclear weapons. 

“Iran is feverishly arming itself 
with ballistic missiles and seeking also 
to develop nuclear weapons," the 
prime minister said during a news con- 
ference with Mrs. Albright. She said 
that the United States was concerned 
about Iran's acquisition of weapons of 
mass destruction. 

The Foreign Ministry summoned 
the Russian ambassador, Mikhael 
Bogdanov, and told him that his gov- 
ernment had to act immediately to 
prevent the transfer of this technol- 
ogy, a spokesman. Aviv Shiran, said. 
Foreign Minister David Levy will 
raise the issue when he meets his 
Soviet counterpart, Yevgeni Pri- 
makov, at the UN General Assembly 
this month. Mr. Shiran added. 



Kluinl Zjghan.'rtKAcuuaiaS P» ■> 

Mrs. Albright and Yasser Arafat shaking hands Friday following their 
news conference in Ramallah on prospects for peace. Later, the U.S. 
secretary of state traveled to Damascus to meet with Syrian leaders. 


ALBRIGHT: Acknowledging Little Progress in Mideast, She Lays Down Challenges 

Continued from Page 1 


*‘I wish that this trip was able to 
provide larger steps, because they are 
needed — and I'm not going to pretend 
to you here that I have accomplished a 
great deal,” she said. "I am not going to 
make more out of this than it is7 

“These are small steps, and they may 
prove useful in getting the peace process 
back on track." 

She vowed not to get sucked in to 
meaningless shuttling in the Middle 
East, as her predecessor. Warren Chris- 
topher. was widely blamed for having 
done. 

But Mr. Christopher was dealing with 
an Israeli Labor Government that ac- 
lively sought a peace based on statehood 
? for the Palestinians and that saw se- 
curity as growing out of peace. 

Mr. Netanyahu’s Likud government, 
by contrast, has put security before 
every thing else and has treated Mr. Ara- 
fat and the Palestinians with a degree of 


harshness that Labor avoided. 

Mrs. Albright said that her main task 
was to try to restore the sense of mutual 
trust and confidence necessary for real 
preace talks. “lt*s quite evident that the 
crisis of confidence is very severe and it 
requires a great deal of work to try to 
rebuild the trust and get the preace pro- 
cess back on track," she sard. 

To begin to do so, she set down 
challenges that will be difficult for both 
leaders, that will require what she vari- 
ously called "hard "or “big” decisions 
— but that are not so hard or big that 
they will require fundamental ideolog- 
ical or political shifts. 

From Mr. Arafat, she made it clear 
she wants an uncompromising and sus- 
tained effort to crack down on Pales- 
tinian terrorists and their infrastructure. 

That will be difficult for him in part 
because Mr. Netanyahu wants it so 
badly and because the main terrorist 
group, Hamas, is growing in strength 
among Palestinians. One reason is mat 


they have seen few benefits from peace, 
but a 35 percent drop in their per capita 
income. 

Mrs. Albright demanded that Mr. 
Arafat choose between a relatively ar- 
tificial Palestinian “unity" and a com- 
mitted pursuit of peace with Israel. 

She also called on him to stop using 
security cooperation as a bargaining 
chip with Mr. Netanyahu. 

With no alternative patrons in the 
Arab world. Mr. Arafat now knows 
what he must do and has promised to do 
it, Mrs. Albright said. 

But it will be made easier for Mr. 
Arafat by quiet encouragement from 
Egyptian and Jordanian leaders, who 
have cracked down on their own re- 
ligious and political radicals. 

Mrs. Albright has also tried to make it 
easier for him by her sympathetic ex- 
pressions about Palestinian frustration, 
and the “legitimate political rights of 
the Palestinian people," while ensuring 
that Washington will decide for itself 


when the Palestinian move against ter- 
rorism has been sufficiently thorough 
and sustained. 

Most important, she tied Mr. Arafat's 
progress on terrorism to her demand that 
Mr. Netanyahu halt unilateral actions 
that the Palestinians consider provoc- 
ative and humiliating. 

From Mr. Netanyahu, she wants ef- 
forts to regain Palestinian trust, which 
she defined publicly Thursday night in a 
speech that threw him an open chal- 
lenge. 

“Israel should refrain from unilateral 
acts, including what Palestinians per- 
ceive as the provocative expansion of 
settlements, land confiscation, home 
demolitions and confiscation of IDs," 
Mrs. Albright said. 

“We believe that a time-out from 
these kind of unilateral actions will cre- 
ate a climate" in which accelerated ne- 
gotiations “can succeed in achieving a 
final Israeli-Palestinian peace agree- 
ment" 


tirely on the issue of security — for 
example, transporting people wounded 
in last week's terrar~utiack to hospital 
she visited — seemed largely satisfied 
by her repeated insistence that stopping 
terror was indeed the overriding pri- 
ority. But Mrs. Albright's rebukes to the 
Israeli leaders brought a quick and sharp 
retort from Mr. Netanyahu's chief 
spokesman. David Bar-Illan: “Israel 
cannot freeze the settlements, just as it 
cannot freeze life." 

In a rare appearance on Israeli tele- 
vision, Mr. Arafat — his lip trembling 
and his eyes glaring in obvious emotion 
— assailed Mr. Netanyahu as the main 
culprit. “You are making the best plat- 
form for the fanatic groups by following 
this policy," he declared. 

To Mr. Netanyahu’s main charge — 
that' the process was dead because the 
Palestinian Authority was not combat- 
ing terror — Mr. Arafat declared: “I’m 
doing enough. I’m doing 100 percent. 
But I can’t give you 100 percent re- 
sults." 

Nabil Shaath, a Palestinian Authority 
minister who is highly regarded by both 
Americans and Israelis as a moderate 
interlocutor, acknowledged that it 
would be difficult to give the Pales- 
tinians a positive interpretation of the 
visit. 

“We are trying not to be doomsday - 
sayers, but we have to tell them what 
they see, that things are not very good." 
he said after accompanying Mr. Arafat 
to his second meeting with Mrs. Al- 
bright. “We’d be lying if we said 
everything's fine and dandy." 

Mr. Shaath said Mr. Arafat was 
heartened when he heard Mrs. Albright 
speak of what Israel had to do, and he 
said the two got on well in their two long 
meetings. Bui he said that she brought 
nothing from Mr. Netanyahu, and only 
repeated his demands that the Pales- 
tinians must take action against terror- 
ism. What was frustrating, Mr. Shaath 
said, was that she never explained whar 
she wanted done. 

“If we do everything the Israelis ask 
of us, and there's another bomb, is that 
enough?" he asked. “If the Americans 
said, ‘If you do 100 percent then we’ll 
guarantee that the Israelis will do this 
and that,’ we could do that But this puts 
us in real predicament To say, ‘Stop the 
bombing for the next six months and 
we’ll see’ is just an invitation for the 
infidels to explode another bomb." 

Mr. Shaath noted that Israel had made 
no progress in investigating the last two 
bombings, a double bombing in a Je- 
rusalem market on July 30 and a triple 
bombing last week at a Jerusalem out- 
door mall, and he insisted that the Pal- 
estinians had no clues, either. 

Israeli officials have barred news or- 
ganizations from reporting on the in- 
vestigation. Mr. Arafat has repeatedly 
insisted dure is no proof that the 
bombers came from Palestinian -con- 
trolled areas. 


India and Pakistan 
Will Resume Talks 

ISLAMABAD, Pakistan — The 
foreign secretaries of Pakistan and 
India will resume crucial peace 
talks in New Delhi on Monday to 
improve their strained ties, the For- 
eign Office here said Friday. 

The Pakistani foreign secretary. 
Shamshad Ahmed, will iruvcl iu 
New Delhi on Sept. 15 for four days 
of meetings, a Foreign Office 
spokesman said. t AFP) 

Thais Alert Public 
To Troop Moves 

BANGKOK — The army told 
the public Friday to expeci to sec 
troops and tanks in the capital, hut 
stressed that such moves would not 
mean a coup was taking place. 

Political tension has been grow- 
ing here in the period before a no- 
confidence debate in Parliament 
over the government's economic 
management and a vote on con- 
stitutional changes later this 
month. 

Military officials have re- 
peatedly denied that a coup was 
being planned. ( Renters I 

Hanoi Cracks Open 
Border to Chinese 

HANOI — Vietnam said Friday 
it was easing access for Chinese 
citizens living across its northern 
border to develop trade, services, 
tourism and industry. 

The experimental move, which 
coincided with the opening of 
China's Communist Party con- 
gress. would allow Chinese nation- 
als to cross at three points into 
Vietnam’s Lang Son Province for 
up to a week without a full visa, the 
official Vietnam News Agency 
said. (Reuters) 

Singapore Signals 
Pollution Danger 

SINGAPORE — The govern- 
ment told the elderly and sick to 
stay indoors and avoid exercise Fri- 
day as pollution over the island rose 
to unhealthy levels. 

The haze consists of smoke from 
thousands of uncontrolled forest 
and bush fires raging across the 
Indonesian islands of Sumatra and 
Kalimantan and from industrial 
emissions. (Reuters) 




t 

V 


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"ar" Jus! ssnous cans. 


HIGH CLASS ATTRACTIVE LADY 

aa fish. French racav bad:- 
pg sonair y ftes&i tease 
See-s 5 ^*ctaic ft? class gporm. 
fMrsa:-: SKai wm rpoiai saiJcS ” 
Jtr*. ”i»' T1464£-751T L’S" 


A TOUCH 
OF PARISIAN CLASS] 
NATHALIE BliCLET 
Votrc “chasseur dc coeur" 
ananges quaJitr cflcounias. | 
Atteoiivc. personal service. | 

M AGENCE - NI CLUB 
|4ris: +33(0) 1«97 45M] 
fax: +33(0)1*" 



Rive Gauche 

Liiumnuumn i w t i 

•daccBBO 

A powerful nutworfe 

A competent team 

Numerous quality encounters. . 
Ask about our enenoea sennees 

1 1. quai Saint'WicheJ - Pans-V 
Tel. : 33 IOI I 43 54 55 66 


AUSTRALIAN MAN. ATTRACTIVE 4E 
rd ft? the canpanv of a bdy fl aver 
Munich. Cologne cr Amsisnfari . Djrt- 
HaSer Post fteslarte Uumcti G.P.0 (tax 
CW^eSaJWZwJi 


ASIAN LADES seek manage. PeSsfc- 
ICE SREAKERS. 5«5 Orcharo fid. 1042 
Par Eas! Shopping Ctr. Singapore 
22SS2C T? 65-732 8745. Fax. 63-2 35 
37^3. Up-. ar«rgsxctn sycfiOratera 


YOUNG LADIES WORLDWIDE swk 
tnenfcWfliBies. Deals and JCC ptaas 
free* HERMES. Bex SiCieSc. D-:GS3fi 
BERLIN FAX -J9-3C-SI3318 


BEAUTIFUL FRENCH TOP MODEL 

seeks retateonshb tsitti successftf art 
■JSA tusnessman. TeL»23tO. , 1 4267153 


MEETING POINT 


Meeting Point 


COTE D'AZUR YOUNG ITALIAN MISS 
s baking tv a gengoa man 
33 10) £65 2ei»4 


FRENCHMAN, 50's mshes fnendsfxp 
ant maybe wore wh ataoM American 
woman. TeL *33 41 331 12 58 


YOU AfE GERMAN over 30 speaking 
Engfcti, N^kt de^ee. Taurus or Aquat- 
re. taR S v irere ang man I am 5. bra- 
nefle «nth peen eyes. 170 cm, 57 kg. 
Russan having my own tnebess n Po- 
land i doni smo+e. don I use drugs, 
tatty, ha fte nai. vay amadive lady I 
Tie to travel iafc te peotfe. I can be cra- 
zy & stttstfe. I tow rnsSK. cook id. & 
know tenioakegoodcareofeman. 
Wise Q Sm 403 IHT. 63 Long Acre. 
London WC2E SJH. IX 


NANNIES/DOMESTICS W 


Nannies & Norses 

locnuUjcil ->08 tamr 
WE SPEOAUSE IN THE PLACEMENT 
OF EXPERIENCED & QUALIFIED 

* NANNIES * GOVERNESSES 

• BABY MAIERMTY NXHSES 
EXCFUEXT C1RE ASSURED 
PLEASE TEL: 44 171 589 5789 

OR PAX: ** 1"1 838 O-’+O 
20 BEAL CHAMP PLACE. LONDON. S*J 


STAFF of DISTI NCnOiV 


vetted Staff hranedialely 

available. Our experienced Co mu turns 
arc brie to sohre your staffing needs. 
Call new id discus* your requirements. 
COUPLES • HOUSEKEEPERS 
HJC NANNIES • CHEFS COOKS 
BUTLERS \IAL£TS • ESTATE MANAGERS 

Mo NegMnUfon Fife. Open Moo da* -Saturday 
Tel: 4-44 171 589 5494/5 
Fu: 4-44 171 589 0095 

,25 TboHar Street LONDON SWT 2LH lACYt 


Top agency ssl 1 962 
Nannies, Mcther's Helps, Basv 
Nurses. Au Pairs. Governesses 


All stall interviewed Qua locations 
and references verified. 

:T!± 44 171 355 5006 Fax: 44 T71 355 5007: 


Si, 


Monroe Nannies 

KNOWN WBOMfiONALLT MB THE VB7Y BEST 
NANNIES/ MATERNITY NURSES 
OOVERNESSES/MOTHER’S HELPS 
AB mil are fully experienced In the can 
at infante & jramfl children Awe provide 

a vary professional & caring service 
Please corrupt Emily van Eyseen 
TH; (14 171)409 0910 FWL (« 171)629 4165 
L 16 flEHKBEY STREET. LOWON.W1X 54EJ 


Domestic Pos/tfons Available 


WGHLY EXPERENCED fkxmftMpar 
raquvBd tor a targe country residence 
Capable of managing a team ot 7 and 
ensuring the smonm and effUerl running 
of the house (maintenance, inventory 
control, watcoming and wifng on the 
tamly aid the* guests. Bowers] ana ca- 
pable at occasional simple ou tasty 
cooiong using fresh produce ExceSem 
references required. Write: Jean- Claude 
Cocht, BP IB. 71401 Autun aSxfcmx 


HIGHLY EXPERBKED head ganianv 
reqund lor a taiga crurtry estate. Capa- 
ble of managing a team of 6 and of 
manta ring a targe French classic gar- 
den and 1 1IZ Declares classic vegetable 
gantev An extensive knowledge a flow- 
ers. hud. vegetables and organic hus- 
bandly Is essential Eaxflen reterences 
required. Write to Jean-Cfaufe Cocfif. BP 
18. 71401 Autun Cedex-France 


WE ARE LOOKING FOR A LOVING, re- 
liable Engfeh'GenKjny swatong nanny 
toi on dtidren 13/517) r AigSmg near 
MowJi (Germanyi who is wtag to carry 
out posiUB housework. Apartrrera can 
be provided and you will be healed as 
one d the lamly Please reply » Box 
397. IHT. Friednchsir 15 . TJ-80323 
Franldun/Man. 


DOMESTIC STAFRflghesi castn «pfr 
riwved Couples. 3dlao«x» Manages, 
Names. Chafe. Housekeepm. & PLA's- 
al scrupulously vetied. HUTCHINSON'S 
Em^oyment Agency 44 (D|l7i 58i 0010 


^Imperial I\ajvnies^ 


Wish nannies govebnesses 
BABY NIBSES 

Pmoualy ucskL highly apertesod and 
pratawknar wtt ocrfM reftreocH. 
AVAILABLE NOW 
Open Mondap - Satuntag. 

Please ukphoae Sanjane or AJban aa 

® T«I: +44 171 589 6132 
Fax: +44 171 589 0092 
V^ciii^SBt-.uggiONsvneuttfeYi,, 


= HOUSEMAN Of?— ». 
COUPLE WANTED 

Beverly Hills , California 
Live-in. full driving licence 
no children 
contact Mr VSbiner 
a^ier 22* September 
Fax: 1310 274 2579 
TeL: 1 310274 2379= 


SEEK young lady. English speaking, id 
took, after 2 children (aged 5 A 7). on 
Wednesdays & cofiect them from school 
every day Tut Parts *33 (0)1 4554 1158 


Dometffc Positions Wanted 


NANNY/GOVERNESS, EXPERIENCED 
1 fcteparrisnt. Oerrrarr naoonalty. tr®> 
guaf. driven fcence. Prasafly employad 
wflh 2 baby-kids m Parts, seeks new 
chalenges win baby / «d / elderly per- 
son In Europe or Pans Min. FF 
lO.OOfVmo net + aUmrencas. flap fy Ur 
Box 373. HT. 32521 Neuffly cedax 


STERLING DOMESTICS. INC. NYC. 
Is currently representing marry NgNy 
sued, butters, chefs and governess Dial 
deske posts in the UAE or Europe. AI 
’ haw top references from the wold’s 
finest homes. Tel: 212-661-5813. 
retp;/wwwstsrfngny4an 


EXPfflENCED COUPLE - French. Por- 
luguese. Spanish & some English. Fax 
351 1 4577352 


YOUNG MAN SEEKS MHtme job as 
cook (oroertencafaferraesl chid care ki 
touseftottfoteL’yacTl +33 (0)1 45725197 


OCCASIONAL AND PERMANENT 
NANNY AGENCY has experienced 
Brush Names and Btaiy Nurses for l> 
lenaGonal jobs. 2 CrwnwsB Place. Lon- 
don. SW7 2JE Tel. UK 171 2» 1555 
FSx UK 171 589 4366 


UK i OVERSEAS AU PAR AGWCY 
NANNIES. MOTHERS HEPS, ri Me4i 
staff. 87 Regent St London WiR 7HF. 
Tel. 171 494 2329 Fax 171 494 2922 


DINING OUT 




PAKS6A 


LEBJLBOQUFT 

»*nI947 


wludi mtt the greceas Ibbmb. 
Affix heat ef SMmMiMi 
fardfcaerorodtfak. 
tagWrenonsEi mmu rt a fatamabla Bin. 

13, nis SeinHtaMB.T.01 4S4L8184. 


IL 


Otyamj 


You (Bi sin^jki rtsi ney, amn ft tofaor i 
dU« that ore braraim in ta Frame-. 

. 'tiwrewr': 97" fair sanalfionnau 
14, tue DaupMm.ir01 43 264491 


PARS 9ft 



Tht Anwkai Birin 
Food and CoddraZs 


Grtctf 

8, Bid Manfmarire Ti 


Fun People., 
re TeL 01 47 70 


2720 


PARtS 1 7ft 


ALGOUXNBERG 

Mefehngi - tatnni -Omudnw faqri 
■dike hcnwiBdi -O mw ala l «fi *■ twL 
JpwUisdm.M Av.A Wkn 
tifeffl 4237^9. Eny day upt 


KIRANES 


Hun k x S iMi U miim titte fare IWMwl e} i . 

frem Pmfids. v«y 




Arcmtittand. • twdifff 
•Diaovff ISSto IF 199 
85, a*, in lamu, - lab 01 45 74 4Q 21 


VENW 


KERVANSARAY 

Noon-3 juo. A A pjiylun, oopr Su 

Open bohdoyi 


GENERAL 


Personals 


THE UNDERSIGNED 

is ttaresed r locara 
Maitine Gaftarague and lean 
Sneuc Dugaro beruficnes d the 
Estate of Uscele Robetfsoi as wel as 
her late husband Robert Robertsoa 
We are also seeking to locale Jardne 
RcdnquE in st-nnetion wsh said estate. 
If you haw any mforoaron concerning 
the rexrre 5 people please contact 
JOas. STB*; 

STERN, WENER and LEVY , LLP 
99) Third Ave. NEW YORK. NY 10022. 
Td: 1 212 355-7220. 

Fax: 1 212 371-3215. 


Announcements 


BAREKIE AS 24 

AU 13 SEPTEMBRE 1997 
Prix Hor TVA en dense locale 
(tiarSidici dsponiUe sur demands) 
Remptace tes baremes artsrieuis 

FRANCE Cone C) en FFrt ■ TVA 20,65. 
GO: 3.69 FOTt 2^3 

SC97: 5.46 SCSP. 5.34 

UKenil-1VA17JSi(fioul55k) 

GO OSfflO FOD*: 03476 

AUEUAGNE (zone H DMI • TVA 15% 
ZONE / - G ; 

GO: 1.10 

ZONE B* l: 

GO. US SCSP: 1.44 

ZONEU-F: 

GO 1.03 SCSP: 1.43 

ZONE/V-F': 

GO: 105 SCSP: 1.43 

BELGIQUE en FBI -TVA 21% 

GO; 2138 FOD: 1062 

SC97: 34.13 SCSP: 32Z3 

HOLLANDS (zDM2) MjG/I - TVA 17,5% 
GO; 1297 TOD: 0802 

5C97: 2.000 ^SP: 1240 

LUXEMBOURG enUfFA- TVA 15% 

GO: 18.48 

ESPAGNE fane A) en FTASfl-TVA 10% 
AU 12W9I97 
GO; 8437 

SC87: 103.45 SCSP: 10759 
■ Usage rede monlB 


Hcralb^^jEribunc 

mMnmnni -^wu 

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OUR NEXT SPECIAL HEAIMG- 

REAL ESTATE 
(N & AROUND PARIS 
15^95 and Renats) 

wi be spearing on 

Friday, September 19th 

For more detafe phase contact 

BCTERKATIONAL HERALD TRIBUNE 
PARIS Tet 433 10)1 41 43 83 85 
« Fac +33 (0)1 41 43 93 70 
E-neft vbcyleSftam 


BfUONI. The finest h^nknade suit 
gest setecion ta Switzertarid at 
3 ERG tne (earfng mens acre. 
Bahrtwfcn. 13. Zutai 01-211 29 50 


FEELING foil? - hawig pnttonrf SOS 
HELP ertss-iwe in English 3pm- 
llpjnlta P«s «M) 47 23 80 80 


Auto Rentals 


RENT AUTO DERG1 FRANCE: 
WEEKEND FF500 - 7 d3vs: FF1500. 
Paris *33 (0)1 43 68 55 55 


Auto Shipping 


SAVE ON CAR 5HIPPINQ. AHESCO, 
Krbbesir 2 Antwerp Betgium To/From 
US. Afnca. Regular Ro-fta saring. Free 
hotel Tel 3212314233 Fax 22-6S53 


Autos Tax Free 

new TAX-FREE used 

ALL LEADING MAKES 

Sene day regctaUcn pOGStte 
renexstte up to 5 years 

We also regster cars wJ> 

(eq*Bd) foreign (lax-tree) piffles 

mom 

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Tet 01 .BE 76 10 Fax 0J3C ?5 30 

25 YRS OCEANWIDE MOTORS 
worthride siwN of tax-free can AUDI 
Mercedes. BUW. Porsche Cal Germany 
-49-211-449^30 lax -ia-211-44 239322 

ATX WORLDWIDE TAX FREE CARS. 
Boon • sftppng » regsrator d new 8 
used cars ATX NV Termctaa 40 2330 
Brasschazl. Belgium Phone- *32 3 
6*55003 Pax *33 2 6«?7£«? ATX 
since i?5P 

EUROPE AUTO BROKERS, INC 

TetHofend 31 rOtfSeBuM Fx606QS94 

Health Clinics 

CARDIAC SURGERY 

AND CARDIOLOGY 

A joup o» canfec sugeons and caru- 
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tom cantec surgay am amptaar h a 
canSac cert» in Prague. Czech Reofr 
kc. Top quality at a law price (e.g 
USS8.SC0 tor caonaiy artery bypass). 

For details, contact: 

2MPtt.N0, £»c 

Phone +420-2-472J2.45 
nr fax: +42M472.13.67 
tastitife for Cfinkal and 

Expertowntal Hetadra 

Vkfensto 800, 141 m Prague 4 

Czech Republic 

Legal Services 

DIVORCE 1-DAY CERTTFED 

Cal cx Fax (714) 96S-B6S5. Wrte. 16767 

Beach BM. tn37 Htmgun Boa th. CA 

92548 U.SA.- Brnei - wstDrmC(ijnacorn 

DIVORCE M 1 DAY. No travta. Wrte- 
Box 377. Sudbuy. MA 01776 USA T* 
978'44M387. Fax mi4W>m 

Collectibles 

SWS OUR GOOD LUCK! Rare cotec 
iron d natural lucky 4 +mI ctarere. for 
sale. Please ennad Mr Vourras. Greece 

Fax *301 -3221 77B 

Colleges & Universities 

GET A COLLEGE DEGREE in 27 DAYS 
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Business Opportunities 

OFFSHORE COMPANIES. For tree tro- 
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1224 Fax 44 181 748 655816338 
www^ptooruouk 

2ND PASSPORT S1QK Also EU. 
Dftomafto, Drivers Ucencas. Email 
CqiHldiriKLneLph Fax: 63-2-831 7552 

US. COMPANY looking For marketing 
rapsfwitati lachndojy. email tor info. 
serveScampuservecori 



OFFSHORE BANK 


with correspondent relationship. 

Class A commercial license. 
Immediate delivery. VS 560,000. 
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TW; (242j 394-7080 Tax (242) 394-7082 

Agents Wanted Worldwide 


TELECOMMUNICATIONS 


New Lower 
International 
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Germany.... 31c 

Japan 38c 

France 33c 

UK 19c 


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77m Origins! 

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Wnere Sundarss are Set not U« 


Came see us at Telecom 
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Fax: 1.206.599.1981 
Email: info@kallback.com 
www.kal1back.com 
417 Second Avenue V.'est 
Seattle, V/A 98119 USA 


Business Services 


GENEVA 

SWITZERLAND 

Full Sefvics 
is our Business 

* rtemaoneJ law ar« 

* MaBxx tefechone. Ide* and 
telecopier «rvx»s 

■ Trenstetion M s«raaral s^rveas 

* tamidllorL dorm*3Mn and 
edmnfiirator of Swiss and foreign 
conparees 

* Furrfshed offices and coherence 
rooms for daky or monthly rental 

Fii contdencs and ifccrenon assured. 

BUSINESS ADVISORY 
SERVICES SA 

7 Rue Mury. 1207 GBfEYA 

Tel 736 05 40. 71* 4132ZL Fax 7B6 06 44 


YOUR OFFICE W LONDON 

Bond Suea • Mali. Phone. Fax. Telex 

Tel 44 171 2S0 9000 Fax 171 489 7517 


YOUR OFFICE IN NEW YORK 

UatPnxerax Srtaa 

212-9CH51: • ^ xnr.nyr XT. 

Banking 

EUROPEAN 3ANKS sag *r >« i 

5=LG» =•-£*;* 5-^2“hs 

=cs >3 d j/S i 

Diamonds 

RARE CPPORPJfCTY . • 

USE: ‘-r- ? 12 T. 

L-z a:-: «•' :rrr. t _=S*.t 

ft y. ri.- :‘,e? :;-r **: 
-rrs;-: s” 

■r c ; h er. rs* ar. " *-tr- 

5a « .-T 

= i7Tsr ■■ 

Real Estate 
for Sale 


Italy 

VENICE - Acs.” 4T " -- ’u-_ 

:*rwa- Aicaii-j 5*”= s s ia^ 

3.-3SS “I k * - ■_**:: ::: =c* 

X- vT tlii" ’if--, *3.*:?. 

Paris and Suburbs 

8th. CLOSE CHAilFS ELYSEES 

a-C fti rz l rC"-5 ft- Sir - ■=: 
if- -ijdrzr: r..« rstr 

Z~Zz : - G.- Clash ■; 

Jte rfcrC 'Crear.-. ‘TH li rftffe 

r.r. e.«. a- 

KvCif VERY GOOD OPPOnTUflTTY 

Ccsac zt-£ -y=r r 

Fax -33 (015 S6 20 01 89 

Tet +33 10)6 07 85 65 16 

Real Estate 
for Rent 


Austria 

VJEWIA. Next to Opera: 1 bedroom, 
tvxigfinng room, effl n kkcsr. etegam. 
uniy. snort iwr. Tel 565 £4 68. 

Paris Area Furnished 

IStn, AVE KLEBEfT, sn»rt? HaL ObuDfe 

Irving - tatcbea'dining ♦ 2 double bed- 
reems - large ww^paneted swtv wOi 
fireplace * i srtaS baiim F=29.0Cv - 
Direa owner Td UK .44 171 ^6 38.-1 

18th BY OWNER, luxurious Iona lerm 

42 sq m. iivrg. tatohen bahroorr." bgoe 

FBirt). Tel -33 (Oil 40 « 23 24 


EXCEPTIONAL, 9C sftflL tA 
asarmert catiiecref ceiings sWsr.ty 
lu!K- equtped £0 nanuies 
ar£ d Pas. Si Gemasi en Lave. 

=cK 0 SersK mdudea Ava.) 2 Se Oc 
:7 a JST> 3* Te. *33 |3i* 34 51 69 15 

HEAD WAITER. ‘CUISWER' akngual 
Engfish- French, seeks posaon hi drrec- 
tor's restaiaara. =4hw pad-time a fuB- 
Hmo Tat 433 l«I 48 09 13 49 

Switzerland 

See Monday"? Internwket 

for Recruit tncm. Education, 
Secretarial, interne! Services. 

To odrerfu* contort Sarah ^trshnf 
on 444 171 420 0326 
or fax +4t 171 420 0338 

A GREAT DEAL HAPPENS 
AT THE INTER MARKET 

GENEVA. LUXURY FURNISHED atari- 
r-=s Fxr, lo 4 bertxns. TS 

~4‘. 22 735 6320 Fax -41 22 736 2571 

Employment 



General Positions Wanted 

International 
Herald Tribune;; 
ads work 

FRENCH MWORDOUO-CHEF ti.pr, 

4? i-psr. a ,-s acs- 

r;-c; r --a: *^=5 seers sfiirg 
<Z 7. Ts-f =2X -Si w ‘4«3^=r 



Hcralb^'eribunc 

T1IE TXORLirS PULI NUVSRU-EB 

PLANNING TO RUN 
A CLASSIFIED AD? 



appear witftin 48 

EUROPE 

ntANCE 9C7- °=ri». 

:;.’4»43?j£i. 

*». iC 1 : 41 43 93 7 C 

f-TC. 1 GainerfS-ii am 

G3WANr. AUSTRIA & CENTRAL EUROPE: 

~cn£ri 

« ;■»« 9712500 

nspc'069] 57125020 

BaSUM&UOtEmOlffiG Snrndi 
■y C21 344-3509 [32! 3*4-0117 
rat tC'2J 34M353 
GREECE & CYPRUS: Arm. 

"eJ 201/68 £1 ScS 
ns. jJ'-’ie 53357 
FMAND: Hdariu 

V 3f5 9 60S 822 

==» 3fS''SA&5C9 

IWUr.vJcrc 

V 52215728 
it? 20533 

hteTHBUMJS: Amusrioni. 

a 2i ki ie^iceo 

jl 206881374 

NORVWY & SWHXN & D-MARK: 

7®.|47) 55 913072. 

PORTUGAL Uton. 

V 35! -1 -457-7293 
Far 351-1 -457-7352. 

SRMN: Madrid. 

V 4572858 
Fcx 4586Q7A 

5M4I2SSAND;AJk 
W.: (02117283021 
Foe {021| 72B 30 91. 


payment is made your _ . _ 

jrs All major Credil Girds Accepted. 

EUROPE 

INITOXMGDOM: lenfan. 
■5sL|017'l33ciS02 


Rot IG1711 2400323 
fix. #3009 

UNITED SPOES 

NEW YORK: 

U. (2121 752-3890 
fat.C12)755-R7B5 
M nt 18001 572-7212 

LATIN AMERICA 

BOUVIA: Sorts Out 
Tel: (591-3) 53 9900. 
fw 1591-3339990 

Fax 852 8485. 

CUE: Santiago deChfe. 

Hxxxi; 6320] 26. 63279 37. 
Fax: 63201 26 

MIDDLE EAST 

fcicjoSl 3748888 
Tt«4B4TWGlf 

ASIA/PAOHC 

HONGKONG: 

W. (852)2922-1188. 

Ux: 61L70 H1HX 
Free (852) 2922-1 190 
SINGAPORE: 

U- 223 6478 
Fac 325 0842 
Tbc 28749 IHTSN 
JAPAN: Tblyp. 

ML: 3201 02 10 

TLc J33673.Fax.3201 0209 


# 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 24, 1997 


INTERNATIONAL HERALD TRIBUNE, SATURPAY-SlflVPAy, SEPTEMBER 13-14, 1997 


PAGE 7 


v - 


UcS. Spacecraft Enters Mars Orbit for 2 Years of Mapping 


By John Noble Wilfoiti 

Kt £ Times Service 

hJI ASADENA - California — Putting on the 
Wltft a steady blast of rocket exhaust, an 
M->rt nCa f ^cecraft eased into a wide orbit of 
p I anei^surfa day IO spend lwo y ears napping the 

The Mars Global Surveyor became the first 
spacecraft in 2 1 years to orbit Mars successfully. 

- . u atl , em P L b y Mars Observer in 1 993. failed 
just ihree days before it was to reach orbit 
Alter a journey of 10 months and 435 million 
miles, the 1,700-pound Surveyor sped with true 


aim toward a point 186 miles above the Martian 
north pole. 

It was an order of precision that flight con- 
trouers compared to throwing a baseball from Los 
Angeles to New York and hitting a specific win- 
dow in the Empire State Building. 

Further maneuvers over the next four months 
arc planned io lower and circularize Surveyor’s 
orbit to prepare to photograph ihe entire planet 
over the course of a complete Martian year, the 
equivalent of nearly two Earth years. 

We couldn’t be more pleased.” said Glenn 
Cunningham, the project manager. ‘*We are here to 
stay on Mars and here to stay a long, long time.” 


The $250 million mission’s objective is to study 
the planet’s atmosphere and geology and map its 
surface. 

Its success is critical to plans for the com- 
prehensive exploration of Mars by successive 
spacecraft over the next 10 years. 

Project officials said the mission was not likely 
to produce stunning discoveries or pictures as 
enchanting as those from Pathfinder and its little 
robotic rover. Sojourner, which landed July 4 and 
are still operating. 

Surveyor’s camera will be mapping flood 
plains and dry lake beds and other areas where 
water presumably once flowed or where reser- 


voirs of it could exist beneath the Martian sur- 
face. 

Future landers are to be directed to water- 
relaied places. 

Besides a mapping camera, the spacecraft has 
devices to measure the heights of mountains and 
depths ot canyons and dry river channels; to detect 
radiations from the surface to deduce the presence 
of minerals, to study the pressure, composition 
and water vapor of the atmosphere and to search 
for traces of the Martian magnetic field. 

The absence of a strong magnetic field would 
expose the planet to winds of solar particles "that 
could strip away atmosphere and water vapor. 


At Least 12 Die 

In Kenya as 
Police Move 
On Gunmen 


Reuters 

MOMBASA, Kenya — Three people 
were killed Friday outside this port city, 
bringing the death toil in two days of 
fighting between police and gunmen to 
said ^ 12 P^pk’ a police spokesman 

The spokesman, Peter Kimanthi, said 
^police killed a gunman in the suburb 
tii ^'k on ' and another in the town of 

r 20 kilometers (12 miles) south 
of Mombasa. A civilian was also shot 
and killed by bandits in the Ukunda area, 
he added. 

Mr. Kimanthi said a large-scale police 
operation was under way in Ukunda, 
where gunmen have been terrorizing 
residents. 

The assailants also raided a police 
station in Diani, 25 kilometers south of 
Mombasa, he said. 

At least eight people were killed 
overnight when the police began an op- 
eration against the attackers. 

The local police chief in Mombasa, 
Japheth Mwania, said six of those killed 
overnight were gunmen suspected of 
being members of a group that bad at- 
tacked the police station. 

The two other people killed overnight, 
he said, were civilian bystanders who 
had been caught in crossfire. He said 57 
people had been arrested 

Two hundred members of a paramil- 
itary force have sealed off Ukunda, he 
said, and “the operation will continue 
until the raiders are flushed oul” 

“We appeal to the public to cooperate 
with the police during this exercise,” he 
added. 

Last Friday, up to five people, in- 
cluding a 2-year-old child, were hacked 
to death and 20 people were seriously 
wounded by heavily armed raiders in 
Mombasa's L ikoni suburb— . . 

Since August, areas around Mombasa 
have been hit by violence dial has killed 
more than 40 people. 

Thousands of people have fled Mom- 
basa and surrounding areas, and Pres- 
ident Daniel arap Moi has ordered a 
police crackdown. 

Mr. Moi, who has been in pow.er for 
19 years, attributes the violence to the 
opposition and ethnic feuds. 



SherbmCrrM.VTtc AvMiolcd Hrv. 


A policeman in Calcutta pleading Friday with mourners to disperse after the viewing of Mother Teresa's 
body was halted in the evening before her funeral. People had stood in Line for hours to pay their last respects. 

HELMS; Senator Blocks Debate Over Pick for Envoy to Mexico 


Continued from Page 1 

give the Domination a hearing on the 
committee. 

Given no opportunity to speak. Sen- 
ator Richard Lugar, Republican of In- 
diana and a prime backer of Mr. Weld, 
sat to Mr. Helms’s right, with a tight 
smile on his face. 

“The sole purpose of this meeting 
will be to discuss the countless failed 
nominations in the past 10 years,” said 
Mr. Helms, Republican of North Car- 
olina. With the chairman doing nearly all 
the talking, the extraordinary session 
lasted 30 minutes. 

Mr. Weld was in the room for_the 
meeting but was given no opportunity to 
talk. 

Moments after the meeting, Mr. Weld 
said he was not ready to ask that his 
nomination be withdrawn and said he 
hoped public pressure would force the 
Senate to act. Mr. Weld said people “out 
there on Main Street are not going to be 
able to understand* * why one senator can 
override the will of the majority. 


Mr. Lugar urged President Bill Clin- 
ton and the Senate majority leader, Trent 
Lott, Republican of Mississippi, to sit 
down together and resolve the impasse. 
”1 think that is necessary for this nom- 
ination and our country's diplomacy,” 
Mr. Lugar said. 

Mr. Lott uTged Mr. Clinton on Thurs- 
day ro withdraw the nomination. 

But the White House rejected the sug- 
gestion. *Tm very disappointed,” Mr. 
Clinton iold reporters at the White 
House, referring to the committee meet- 
ing. "The battle is not over yet. All I 
have asked for is a fair hearing and an up 
or down vote on a man I believe to be 
highly qualified.” 

Mr. Weld, former Republican gov- 
ernor of Massachusetts, has waged an 
extraordinary campaign to win Senate 
approval of his nomination but has run 
up against the implacable opposition of 
Mr. Helms and outer conservatives who 
consider him to be soft on drugs for 
supporting the medical use of marijuana 
and needle exchange programs. 

The fight over the Weld nomination 


has pined two powerful Senate com- 
mittee chairmen against each other — 
Mr. Helms, who refuses to hold a hear- 
ing on the nomination and Mr. Lugar, 
chairman of the Agriculture Committee 
and the No. 2 on the Foreign Relations 
Committee. Mr. Lugar is demanding 
that a Senate vote on the nomination be 
held 

Mr. Helms attacked both the news 
media and Mr. Weld for suggesting that 
blocking nominations by denying them a 
heari ng was ‘ 'unprecedented. ’ ’ 

Mr. Helms said that 154 nominations 
sent to the Senate during the past 10 
years were returned to the president 
without hearings being held. 

He said 44 of those went before the 
Senate Judiciaiy Committee when Mr. 
Biden was its chairman and that one 
never got out of the Agriculture Com- 
mittee chaired by Mr. Lugar. 

Mr. Helms’s office said Friday that 
the senator had told the White House that 
the “furor” over Mr. Weld’s nomina- 
tion could jeopardize other Clinton ad- 
ministration foreign affairs initiatives. 


TERESA: 

A Stately Funeral 

Continued from Page 1 

carried on the military gun carriage. 

“That is the honor being bestowed on 
Mother by the government of India as a 
gesture of India’s love for Mother,” 
Sister Nirmala said at her first news 
conference. ‘ ‘So we accept it graciously, 
with gratitude, in the name of the poorest 
of ihe poor, as Mother would have 
said." 

Mother Teresa will be buried at her 
order's headquarters, instead of a 
cemetery, because that was her wish and 
her order’s. Sister Nirmala said. 

’’This is the place she loved to be. 
Wherever she went, she always wanted 
to come back here,' ’ she said. “We want 
Mother in our own bouse, and she 
wanted to be in her own home.” 

Foreign dignitaries from 23 countries, 
including Hillary Rodham Clinton, were 
scheduled to attend the funeral in the 
Netaji indoor stadium. She led an of- 
ficial delegation of 18 political, religious 
and business leaders. 

A bipartisan delegation of seven 
members of Congress was to attend. 

Besides President Kocheiil Raman 
Narayanan and Prime Minister Inder 
Kumar GujraJ. other world leaders who 
planned to pay their last respects to 
Mother Teresa were President Jacques 
Chirac of France, President Oscar Luigi 
Scalfaro of Italy. Prime Minister Hasina 
Wazed of Bangladesh and Corazon 
Aquino, the former president of the Phil- 
ippines. 

Mother Teresa's closest relative, Agi 
Bojazhiu of Italy, a niece, arrived here 
Thursday. Cardinal Angelo Sodano, sec- 
retary of state to Pope John Paul n, was 
to say a funeral Mass at about 11:40 
A.M. (0610 GMT) before 13,000 people 
in the sports arena and an international 
television audience of millions. 

The ceremony was to include remarks 
by Sister Nirmala and a multifaith eu- 
logy as well as tributes and the laying of 
wreaths by Mr. Narayanan and foreign 
dignitaries. 

The burial will be private, restricted to 
Cardinal Sodano and Catholic bishops, 
sisters, brothers and priests. "Our Mis- 
sionaries of Charity family,” Sister 
Nirmala called them. 

Work to complete funeral arrange- 
ments was evident around the city’s 
heart. Along the fimeral procession’s 
route, workers lashed bamboo poles to 
wooden posts to form temporary police 
barriers. The military escort conducted a 
trial run, driving the route in shining 
green vehicles. 


CHINA: 

Meaning of Reforms 

Continued from Page 1 

small state enterprises should be over- 
hauled through ’‘reorganization, associ- 
ation, merger, leasing, contract opera- 
tion, joint stock partnership or sell-off.” 

Unlike Mao in the early 1960s, who 
stressed independence, self-sufficiency 
and isolation from other countries. Mr. 
Jiang stressed China’s links with the rest 
of the world as one reason for restruc- 
turing state-owned enterprises. 

He said that “international compe- 
tition is becoming increasingly acute.” 

He frequently used the term ’’public 
ownership,” but was ambiguous about 
what it meant. “Public ownership can 
and should take diversified forms, Mr. 
Jiang stressed. 

Tbe 7 1 -year-old Communist leader 
was blunt about certain sensitive topics, 
such as worker layoffs. Until now, the 
Chinese government has been cautious 
about dismissing unneeded workers, es- 
timated to make up about a quarter of the 
roughly 100 million employees of slate- 
owned industrial firms. 

On Friday, however, Mr. Jiang spoke 
about the need for "downsizing staff" 
and said that “it would be hand to avoid 
the flow of personnel and layoffs.” 

Downsizing, he conceded, will cause 
temporary difficulties for workers. 

Mr. Jiang also admonished Marxist 
ideologists, who have lamented the con- 
traction of the state-owned sector and 
warned of dangers to party control. 

Marxism, Mr. Jiang told the Com- 
munist delegates, “cannot remain un- 
changed.” He condemned people who 
“indulge in book worship' ’ and said that 
“sticking to conventions can only lead 
to backwardness and even failure.” 

Mr. Jiang touched on a wide variety of 
other issues in a speech that lasted nearly 
two and a half hours. 

Turning to changes facing the mil- 
itary, Mr. Jiang said that the People’s 
Liberation Army would have to become 
smaller but better. He vowed to reduce 
die size of the armed forces by a half- 
million men over the next three years, 
while putting more money into tech- 
nology, upgraded weapons and other 
equipment 

During the 1980s, the size of China’s 
array fell from about 5 million people to 
just over 3 million now. At the same 
time, analysts here said, the ranks of the 
People's Armed Police, a paramilitary 
group designed to protect Beijing 
against domestic unrest or protest 
demonstrations , increased by a mil- 
lion. 

Western diplomats remarked that they 
would not be surprised if half those cut 
from the army ended up in the para- 
military police group. 

Regarding Taiwan, Mr. Jiang passed 
up an opportunity to blast Taiwan’s lead- 
er, Lee Teng-hui, who recently angered 
Beijing by making an overnight transit 
stop in Hawaii. 

Instead, Mr. Jiang reiterated Beijing’s 
stance that Taiwan should be reunited 
with the mainland on the basis of “one 
country, two systems." 

He did not mention the United States, 
but be made a few veiled critical ref- 
erences to U.S. policy. He said that "the 
interference of certain foreign anti- 
China forces have stood in the way of 
peaceful reunification" with Taiwan. 

“It is still serious that human rights 
and other issues are used to interfere in 
the internal affairs of other countries," 
he added! 


SALMON: Barbs Are Tossed Across the U.S.- Canadian Border 


Continued from Page 1 

Artibise, president of the Cascadia In- 
stitute, a nonprofit research group in 
Vancouver, “if we can't cooperate over 
the very thing that we brag about so 
much, which we all love, what does that 
say about us?” 

Raising the stakes in the conflict. 
Premier Glen Clark of British Columbia 
filed a lawsuit in Seattle this week, con- 
tending that American fishermen had 
broken an international treaty and seek- 
ing damages from the United States in 
excess of $300 million. 

The suit has infuriated the normally 
low-kev governor of the state of Wash- 
ington.’ Gary Locke, a Democrat Mr. 
Clark had already taken aim at Mr. 
Locke and others in an extraordinary 
advertising campaign this summer, in 
which he accused Americans of trying to 
kill the great salmon bounty. 

“1 had a private talk with Premier 
Clark,” Mr. Locke said in an interview, 
“and he made it very clear to me he’s 
willing to grandstand this issue and fish 
the salmon to extinction if that’s what it 
takes. 

“He’s ver> r good ar trying to snrup 
feelings of resentment against us. Thar 
won't save a single fish.” 

The Canadians say Americans are 
taking more than 500,000 sockeye sal- 
mon as they swim through Alaskan wa- 


ters on their way south to Canada to 
spawn. 

The Americans say the Canadians 
have excessively fished the prized coho 
and Chinook salmon off British 
Columbia as they make their way ro 
American spawning waters. 

The British Columbians, who have 
long regarded their distant capital in 
Ottawa the way many Pacific North- 
westerners regard their distant capital in 
Washington, filed the lawsuit against the 
wishes of their own national govern- 
ment, which is the only body than can 
negotiate international salmon treaties. 

But even though the fight involves 
perhaps no more than 300 fishing jobs, it 
has symbolic resonance that goes well 
beyond its economic numbers. 

“The people of British Columbia are 
with me,” Mr. Clark said. “That’s all I 
care about- This fight goes to the very 
soul of British Columbia. 

In fact, it goes to the soul of the entire 
region, an area promoted abroad as a 
“two-nation vacation” and held up by 
President Bill Clinton as a model of 
cooperation. In art, literature, trade, 
transportation, food trends and geo- 
graphic self-identity, the Cascadia re- 
gion of Oregon, Washington, British 
Columbia and southeastern Alaska has 
seemed to grow closer every year. 

But all of that changed in JuJy, when 
nearly a hundred Canadian fishing boats 


prevented the Alaska ferry Malaspina 
from leaving the British Columbia port 
of Prince Rupert. It was a protest, they 
said, against American fishing of salmon 
bound for Canadian spawning streams. 

A month before the blockade, four. 
American fishing ships were detained in 
a British Columbia port, prompting Sen- 
ator Frank Murkowski, Republican of 
Alaska, to suggest a coast guard or navy 
escort for other fishing vessels. 

After the three-day blockade, Alaska 
canceled ferry service to Prince Rupert, 
cutting off a main two-way tourist link. 
Merchants in the town say they have lost 
nearly half their summer business, and 
have been flooded with phone calls by 
people wondering if it is safe to travel in 
British Columbia. 

* ’We’ve been getting all kinds of mes- 
sages from people concerned about their 
safety, people wondering if they should 
change their American license plates to 
avoid trouble once they get here.” said 
Bill Smith, the city manager of Prince 
Rupert. 

“We have so much in common, it just 
doesn’t make any sense to be hammering 
at each other like this.” 

This week Alaskan officials an- 
nounced the cancellation of ferry service 
to Prince Rupert through the summer of 
next year, as well. The cancellation came 
after Mr.. Clark tried to evict the U.S. 
Navy from a torpedo testing range at 


SCOTLAND: Blair Praises Decision to Establish a Parliament 


Continued from Page 1 

flow the formation of a single- 
>er Parliament of 129 mem ber s. » 
ablished in Edinburgh. Under a 

bk bid ou. by the .KS 



sometime in 2000. 
chamber will have respon- 
ds! domestic policy matters, 
Uication, health care, hqus- 
rtation and criminal justice, 
■ovemmem will retain power 
onal economy, the currency, 
•nse and foreign policy, 
suits leave major question 5 
The coalition that headed me 
r an affirmative vote included 
jbeur Party- which has con- 
he new Parliament will help 
niain, and the Scottish Na- 

which long has fava^ut- 

idence- No one can predict 
vote will strengthen or stunt 
full independence. 


the brief campaign, which was 
J by the death of Diana, Prin- 
ces, Scottish business leaders 
sssed fears that a new Par- 
/ould raise taxes and make 
companies less competitive 
British companies, 
the terras outlined by Mr. 
ibour Party government, the 
arliament will be able to raise 
* tax rate — now 23 percent 
percentage points. Mr. Blair 
(arty's campaign pledge last 
to raise income taxes during 
ar term also applied to Scot- 
,mise that may have eased the 
, m e Scottish voters. Scotland, 



mtial fiscal squeeze, which 
either an increase in taxes or 
in services. 

!h the new Parliament there 
eduction in the number ot 
mbers of Parliament in Lon- 
> bv about a dozen. Another 


question that will have to be addressed is 
how much power Scottish legislators in 
London win have. The issue is: If Scot- 
land has its own Parliament to determine 
Scottish spending priorities, why should 
Scottish lawmakers in London have a 
voice in priorities for England? 

There was a sense of anticipation in 
Edinburgh on Thursday as the voters 
trooped to the polls. At one pro- Par- 
liament stronghold, most voters ex- 
pressed enthusiasm at the opportunity to 
take power into their own hands. 

“I want to see Scotland running our 
own affairs.” said Kenneth Dalgleish, 
an Edinburgh postman. “I want to see us 
make our own mistakes and blame 
ourselves for them instead of the Eng- 
lish.” 

There were doubters among the en- 
thusiasts, however. Heather Coleman, a 
cook, said she had supported creation of 
the Parliament but voted against giving it 
power to levy taxes 

“I think it will cost us a lot more in 
taxes,” she said- 



The Ni-» Y.tI Time* 


Nanoose Bay, British Columbia. The 
effort has been halted, temporarily, by 
the Canadian government, which asserts 
that the province does not have jur- 
isdiction over the navy’s lease. 

As much as the ferry blockade in- 
censed people, the burning of an Amer- 
ican flag at the height of the Prince 
Rupert protest is frequently evoked in 
talk radio and newspaper letters as a 
flash point for long-dormant national- 
ism. 

But Mr. Smith noted that the flag- 
burner was a fisherman with both Ca- 
nadian and U.S. citizenship, making the 
point that perhaps Cascadia lives even in 
a salmon war. 


Maybe That’s Why 
They Spell It ‘Colour’ 

A gem c Fruni c-Prt air 

LONDON — More than one in 
five adults in Britain Jack literacy 
and numeracy skills, putting the 
country near the bottom of Ihe list in 
tihe industrialized world, according 
to a report issued Thursday. 

The Office of National Statistics 
said 8.4 million people, or 22 per- 
cent of Britons aged 16 to 65, had 
problems doing a simple calcula- 
tion, filling in a form or comparing 
two written texts. 

Levels of literacy were similar in 
England and Scotland but much 
lower in Wales,, the repon said. 

A total of 3.800 people were 
tested on their ability to understand 
a literary text, a passage from a 
novel and a newspaper article, and 
to solve problems in arithmetic. 

Britain's governing Labour Party 
has proposed measures designed to 
raise educational standards. 


MISSILES: Parts Flow Easily From Bussia 


Continued from Page 1 

unguarded or weakly protected. More- 
over. while the workers, engineers and 
generals who ran this vast complex were 
showered with subsidies in me Soviet 
era. they have fallen on hard times in 
post-Soviet Russia, creating powerful 
financial incentives to seU sensitive 
technology. 

At the time the gyroscopes were sent 
to Baghdad, Russia had pledged to obey 
the UN sanctions against Iraq and to 
follow the terms of the Missile Tech- 
nology Control Regime, a global pact 
aimed at stopping the spread of missiles 
capable of carrying nuclear, chemical 
and biological weapons. If the Russian 
government sold the gyroscopes to Zraq, 
it would have violated both commit- 
ments. 

But Vladimir Orlov, director of the 
research center, said the study indicated 
that the gyroscopes were diverted to Iraq 
without high-level involvement of the 
Russian government. Rather, he said in 
an interview, the smugglers and middle- 
men were motivated by profit and went 
right through the Russian customs ser- 
vice without being detected. 

"My impression is the Russian gov- 
ernment was not informed and not in- 
volved,” he said. “It was just busi- 
ness.” 

The case of the gyroscopes is “in- 
dicative of tiie larger problem, which is 
the lack of control over strategic tech- 
nology. people and equipment,” said 
Tim McCarthy, senior analyst at the 
Center for Nonproliferation Studies ar 
the Monterey Institute for International 
Studies in Monterey, California. 

The gyroscopes are a key element in 
the quest by Iraq and other countries to 
build missiles that can carry weapons of 
mass destruction, he said. 

“If you are developing a long-range 
missile, for instance, to hit London and 
Washington and New York, you have to 
guide it," Mr. McCarthy said. “It’s very 
difficult to develop this technology in- 
digenously. It requires tremendous ex- 
pertise and equipment. You need high- 
technology guidance systems, and you 
need to purchase them.” 

“It's a very serious proliferation 
problem,” he said. If the guidance sys- 
tems can be obtained, he added, they 
"fill a gap the Libyans. Iraqis and Ira- 
nians cannot fill themselves.” 

Under the UN sanctions, imposed 
after the August 1990 Iraqi invasion of 
Kuwait and reimposed after the Gulf 
War, Iraq is prohibited from obtaining 
technology for missiles with a range 
greater than 150 kilometers (93 miles). 


The gyroscopes shipped from Russia; 
however, came from the submarine- 
launcbed SSN-1S missile, which has a 
maximum range of 8,000 kilometers and 
could cany up to seven nuclear war- 
beads. 

Iraq currently has no missile for which 
the gyroscopes would have an imme- 
diate military use. But specialists think 
Baghdad may have sought them for fu- 
ture development of long-range mis- 
siles. 

The gyroscopes, not much larger than 
cigarette packs, are “very lightweight 
and very accurate,” said Mr. McCarthy. 
The older, Russian-designed Scud mis- 
siles, which Iraq possessed, do nor use 
the same guidance system. 

Twice in recent years, UN inspectors 
have come across shipments of missile 
gyroscopes en route to Iraq. One batch 
was intercepted in Jordan in November 
1995; their origin is not known, but 
sources said they may also have come 
from Russia. Mr. Orlov said he believes 
they came from Western Europe. 

The other batch was the one pulled 
from the Tigris River in December 1995 
by divers working for the United Na- 
tions. It is not known how long they were 
in the water, but Mr. Orlov said his 
center’s research shows with “i 00 per- 
cent certainty” that the 30 gyroscopes 
there came from the Russian missile- 
disassembling plant. 

Yeltsin Orders Curb 
On Illegal Alcohol 

Reuters 

MOSCOW — President Boris 
Y eltsin vowed Friday to crack down 
on illicit producers of vodka and 
other forms of alcohol, which kill 
thousands of Russians each year 
and deprives the government of 
sorely needed tax revenue. 

“The illegal production and sale 
of alcohol have become the second 
most lucrative criminal business 
after Financial misdemeanors and 
certainly the most dangerous for the 
health and life of Russians." he said ■ 
in a radio address. 

State-controlled vodka produc- 
tion has fallen dramatically in re- 
cent years as impoverished Rus- 
sians rushed to buy unregulated 
cheaper and privately distilled al- 
cohol flooding the market. 

Conservative estimates suggest 
that about 35,000 Russians die of 
alcohol poisoning every year. 


V. 




PAGE 8 


SATURDAY-SUNDAY, SEPTEMBER 13-14, 1997 


editorials/opinion 


INTERNATIONAL 



PUBLISH Ell WITH TllE TURK TLMKS AM* THK WASH1NC.TO.S POST 


tribune J[ n Unnecessary Focus on Religious Persecution 

THK HrASHlNfiTWi POST J V ^ thingS, SUbjeCt it S <& 


For Freer Trade 


; President Bill Clinton this past week 
kicked off his effort to win more 
Authority to negotiate trade agree- 
ments — what’s known as fast-track 
authority. The administration is ex- 
pecting one of its biggest political 
battles of the fall when Congress takes 
up the matter. „ 

■ Embarrassingly, the kickoff came 
Without a specific legislative proposal, 
which Mr. Clinton's team is still re- 
fining! even though the campaign nad 
been postponed from last spring on the 
theory that by now the administration 
would really be ready to go. The ab- 
sence of an actual document reflects 
rjie political sensitivities: Most leg- 
islators of Mr. Clinton s own party 
Oppose fast track. But if he modifies his 
proposal enough to win a certain num- 
ber of Democratic votes, his Repub- 
lican supporters begin to walk away. 

On its face, it might be hard to 
understand why fast pack would gen- 
erate so much contention. The idea is to 
give the president authority to nego- 
tiate specific trade agreements (as 
spelled out. by Congress, ahead of 
time) that he would then bring back For 
an up or down vote. Congress isn’t 
committing itself to approve any trade 
pact, in other words: it’s just promising 
not to amend whatever comes out of 
international negotiations. Without 
such assurance, other countries won't 
bother to hold trade talks with the 
United States. Congress has granted 
similar authority to every president 
since 1974. 

But this year's fight isn't really 
about the intricate mechanics of mak- 
ing trade law. It's about free trade and 
ihe increasing globalization of the 
economy and all the anxieties con- 
nected thereto. Opponents of further 
trade liberalization argue that it is bad 
for workers in the United States, who 
lose jobs ro cheaper labor overseas, and 
bad for workers overseas, who are ex- 
ploited by multinational corporations. 
They want to impose U.S.-styJe labor 
standards on foreign workers.but most 
developing countries won't go for that, 
at least not yet. so the result would be 
less trade. 

Is that bad? Many overseas workers 


are exploited, it's true, working in 
sweatshop conditions for miserly 


Evidence, Please 


Two months after Senator Fred 
Thompson boldly declared that 
China had developed a plan to in- 
fluence the 19% American elections 
with secret and in some cases illegal 
operations, his serious accusation 
remains unproved but also un im- 
peached. That is unnerving, for the 
charge is not only one of the most 
explosive elements of the campaign 
finance scandal but also central to the 
management of Washington's rela- 
tions with Beijing. Both the Senate and 
the White House have an obligation to 
tell the country what they know and 
what they make of it. 

There has been much partisan de- 
bate about the accusation among Mr. 
Thompson's colleagues on the Gov- 
ernmental Affairs Committee, and 
President Bill Clinton has several 
times said that evidence of improper 
Chinese activities would be a matter 
of grave concern to him. The Senate 
Intelligence Committee, in an effort 
to help resolve the confusion, has 
reviewed the relevant intelligence 
material. 

On Wednesday it heard secret testi- 
mony about the matter from Attorney 
General Janet Reno, Louis Freeh, the 
director of the FBI, and George Tenet, 
the director of Central Intelligence. 
None of this, alas, has provided the 


American people with a single piece of 
helpful information. 

They have been left to puzzle over 


They have been left to puzzle over 
circumstantial evidence suggesting a 
Chinese plot, including the transfer of 
large sums from Chinese banks to a 
number of generous donors to the 
Democratic Party, including Yah Lin 
('Charlie) Trie. Last year several mem- 
bers of Congress reported that the FBI 
had notified them that China might 
attempt to funnel money into their 
campaigns. Unfortunately, some of the 
people most likely to know whether 
there was a Chinese effort, like Mr. 
Trie and John Huang, the Democrats' 
primary solicitor of Asian money, have 
declined ro testify before the 
Thompson committee. Mr. Trie has 
fled to China. 

• Part of the problem is the sensitive 
nature of whatever hard evidence there 


is. Through wiretaps and other forms 
of electronic intercepts, the United 
Slates has clearly collected some in- 
formation about Chinese plans. Wash- 
ington, understandably, is fearful that 
any public disclosure of that infor- 
mation would expose the specific in- 
telligence sources and methods used to 
obtain it. Ms. Reno has told the Senate 
she fears public disclosure would 
compromise whatever investigation 
she is conducting into the fund-raising 
affair. 

These obstacles can be overcome by 
preparing a summary or assessment of 
the information that shields the details 
while providing some judgment 
whether the evidence of a plot looks 
credible and whether there is any tan- 
gible indication that illegal activities 
took place. The Senate Intelligence 
Committee seems best equipped to do 
that job, but it has so far railed to settle 
on a plan to do so. If it cannot muster 
the mil to provide this public service, 
the Senare leadership ought to appoint 
a panel of independent experts to re- 
view the information. Mr. Clinton, for 
his part, could instruct Mr. Tenet and 
Mr. Freeh to prepare a public report. 

If the charge of Chinese involve- 
ment is unsupported by reliable ev- 
idence, it should be withdrawn. If there 
is information showing planning but 
not implementation, that should be 
publicly established. 

If there is strong evidence of actual 
Chinese interference in the presiden- 
tial or congressional campaigns, it 
ought to be made available in some 
form. Simply confirming that such in- 
formation is available would help, 
even absent detail. The matter is too 
important to be left to speculation and 
closed meetings of the Intelligence 
Commitree. 

With China's president, Jiang 
Zemin, due in Washington next month, 
Mr. Clinton, Mr. Thompson, Ms. Reno 
and Senator Richard Shelby, the 
Intelligence Committee chairman, 
should spare no effort to solve this 
puzzle. That means getting the China 
evidence before the public in some 
fashion. 


— THE NEW YORK TIMES. 


(YTERMTIUNM. 


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B OSTON — If there is one person in 

the world who best symbolizes hu- 
man resistance to tyranny, it is the 

Chinese prisoner Wei Jingsheng. other sanctions would automatically 

Alone, he has challenged the most come into force against that country, 
powerful tyranny on earth — and been Anyone claiming to be a victim of 
willing to pay the fearful price it ex- religious persecution and seeking 
acted. For advocating democracy in asylum in die United States would be 
China, he was imprisoned for 14 years green priority in consideration by U.S. 
and is now serving another 14-year immigration authorities. The victims of 


By Anthony Lewis 


wages. But the larger picture shows 
something different. Economies that 
are open to trade and foreign invest- 
ment grow more quickly and lift their 
populations out of poverty more 
quickly than economies (hat are 
closed. Trade alone won't do ic edu- 
cation, savings and other -factors mat- 
ter, too. But if the House majority 
leader, Richard Gephardt, really wants 
to lift the developing world’s poor into 
the middle class, creating new markets 
for American producers, he should be 
promoting more trade, not less. 

Overall, trade is good forU.S: work- 
ers. too. One-third of U.S. economic 
growth in recent years has stemmed 
from growth in exports, and export- 
related jobs on average pay better. The 
United States has few trade barriers, so 
it has far more to gain than to lose by 
pushing other nations to lower theirs. 
Many U.S. industries, like car makers, 
have' already weathered the toughest 
adjustment to international competi- 
tion. The current boom, with near- 
record low unemployment, owes much 
to trade. 

Increasing trade does hurt some 
American workers — and it's usually 
those at the low end of the wage scale, 
who have benefited least from the cur- 
rent economic expansion. But even if 
the United States could force other 
nations to adopt better “labor stan- 
dards,' ’ as fast-track opponents ad- 
vocate. it wouldn’t erase the compet- 
itive advantage poor countries enjoy in 
labor costs. U.S. workers are more apt 
to be helped by education, training and 
policies that promote productivity 
growth and higher savings rates. 

It's absolutely true that as capital 
becomes more mobile across borders, 
governments competing for invest- 
ment are finding themselves less able 
to set their own rules — not only in 
labor but also in taxation, environ- 
mental policy and more. In the long 
run. nations will see that some co- 
ordination of standards — now resisted 
as a ceding of sovereignty — may in 
fact help bolster sovereignty. 

The fastest road to that goal is to help 
more and more countries reach a basic 
level of prosperity. That requires more 
trade ana more openness, not less. 

— THE W ASHINGTON POST 


other sanctions would automatically 
come into force against that country. 


Iigiou 5 persecution in the world. The 
Chinese government’s restriction on 
Christian worship except in approved 
churches has drawn particular atien- 


Anyone claiming to be a victim of But as drafted, the 
religious persecution and seeking likely piake the LS. govemmen 
asylum in die United States would be — * 


sentence under brutal conditions. 

In his courage, Wei Jingsheng speaks 
for the values of freedom that we Amer- 
icans assert in the world and aim to 
protect But if influential forces in Con- 
gress have their way, die United States 
will soon tell the world that be and his 
cause matter less to us than another 
concern: religious persecution. 

That would be the effect of legis- 
lation called the Freedom From Re- 


ligious Persecution Acl Supported by 
fundamentalist and evangelical Chris- 
tian denominations, it was endorsed 
this past week by die Republican lead- 
ers of the House and Senate and seems 
headed for passage. 

The bill would set up an Office of 
Religious Persecution Monitoring in 
the White House, independent of the 
State Department Whenever the of- 


fice’s director found religious perse- 
cution in a counlrv. reeardless of other 


cution in a country, regardless of other 
foreign-policy concerns, economic and 


torture, threatened assassination, fe- 
male genital mutilation and other hor- 
rors would get shorter shrift. 

Making religious persecution the 
paramount concern in our law of hu- 
man rights would send a signal to other 
governments that we care less about 
such things as genocide, political re- 
pression and racial persecution. It 
would also tell the world that we now 
favor what we in- this country have 
always opposed: the idea of a hierarchy 
of fundamental rights.. 

In Asia, die notion of “Asian val- 
ues” has been advanced. According to 
this, a full stomach and an orderly so- 
ciety are more important than freedom 
of speech and other human rights. 

The U.S. stand against that destruc- 
tive proposition would be undercut by a 
law indicating that some rights are 
more important to ns than others. 

The legislation reflects genuine and 
growing American concern about re- 


Victims of torture, 
threatened 
assassination , female 
genital mutilation and 
other horrors would get 
shorter shrift. 


effective in combating religious per- 
secution and in pressing more broadly 
for human rights. And it would com- 
plicate our foreign policy. 

Consider Saudi Arabia, for example. 
A recent State Department report on 
religious discrimination in the world in- 
cluded a blistering section on Saudi Ara- 
bia. The director of the proposed new 
office in the While House could hardly 
fail to find that the Saudi government 
engages in religious persecution. 

The result would be to impose eco- 
nomic sanctions on Saudi Arabia and. 


among other things subject iisdra- 
lomats to intensified visa checks. 
Would that advance the ^use tf re- 

ligious tolerance in Saudi Arabia. 

China already presents daunting ; 
problems for Americans who want to 
advance human rights. Wo uld there b e 
a better chance of Juigs^^s 
release from prison — and of a general 
easing of repression — if * e , 

States denied 

trading status to China? Or make polit- 
ical freedom follow increasing eco- 
nomic freedom? Tbe quesnoro are 
hard, and they would be made fouderby 

a one-dimensional focus on religion. _ 

The doubts about this legislation are 
increased by the fact that conservative 
Christian groups, including the Qms- 
tian Coalition, are its strongest though 
not only backers. Of course tbeir con- 
cern for persecuted Christians lndje- 
worid is sincere. But they undoubtedly 
have another object too: to advance 
their cause of giving religion a pnme 
role in the American political structure. 

Considering only the declared object 
of the bill — the desirable aim of fight- 
ing religious persecution in the world 

the means are mistaken. It is an 

... — _ * — 1 




fK 


>1' 


I i 


— me mcdiio — — 

attempt to impose a simple, mechanical 
solution on a complicated problem: a . 
recipe for unintended consequences. 

The New York Times. 


The Mideast Conflict Moves Into Dangerous New Territory 


P ARIS — In little more than a 
year, the Israeli -Palestinian 


T year, the Israeli -Palestinian 
conflict has changed from a sec- 
ular combat to a religious war. 

A secular conflict is nego- 
tiable. A religious conflict is 
not, since the claims made by 
both sides have to do with 
eschatology and destiny. You 
cannot compromise when what 
you are struggling for is the 
expression of God’s will. 

The Clinton administration 
bears a serious pan of the re- 
sponsibility for this change. It 
abandoned the previous Amer- 
ican role of impartial arbitrator 
between Jews and Arabs. By 
doing that it undermined the 
PLO and made die terrorists of 
Hamas the key actors on the 
Palestinian side. 

Bill Clinton seems to have 
thought this smart in terms of 
domestic politics. It could ac- 
tually ruin the presidential 
chances of Vice President A1 
Gore, iff the Mideast peace pro- 
cess is destroyed, causing a new 
Arab- Israeli struggle, all on the 
Clinton administration's watch, 
Mr. Gore is not going to collect 
abig vote of thanks from Jewish 
voters, or from anyone else. 

Before Benjamin Netanyahu 
was elected prime minister of 
Israel, the country was gov- 
erned by secular forces. The 
Labor Party belongs to the old 
socialist wing of the Zionist 
movement which created Is- 
raeL 

Zionism itself was originally 
a secular movement among as- 
similated Western European 
Jews, and was condemned by 
some of the Orthodox devout as 
an interference with God's own 
plan for the Jewish people. 

The Holocaust united most 
religious Jews with secular 
Zionists in the struggle to create 
an independent Israel in Bri- 
tain’s Palestine mandate. Britain 


By William Pfaff 


had promised a Jewish national 
home, but die territory was pop- 
ulated (in 1947) by a million and 
a quarter Arab Muslims and 
Christians, to whom Britain had 
also promised security and even- 
tual nationhood. 

What followed is well 
known. The Arabs rejected 
various British and UN partition 
proposals. In 1948 Britain re- 
nounced the mandate and Israel 


The Orthodox 
Jewish parties , like 
the growing 
fundamentalist 
Islamic 

movements , reject 
compromise. 


was proclaimed, and effectively 
defended itself against attack by 
the surrounding Arab states. . 

Israel's first de facto recog- 
nition came from the United 
Stales, but the close alliance be- 
tween the United States and Is- 
rael did not arrive until the 
1960s. The Eisenhower admin- 
istration in the 1950s held that 
“an emotional attachment 
should not interfere” with 
American national interest, and 
that “we cannot have our 
policies made in Jerusalem.” 

The Palestine liberation 
movement, formed in exile, was 
also a secular movement, in the 
style of the Arab national lib- 
eration movements of the peri- 
od, whose emblematic leader 
was Egypt’s Gamal Abdel Nas- 
ser. President Hosni Mubarak 
of Egypt is Nasser’s direct 
political descendant, and it is 
significant that Egypt was the 


first Islamic country willing to 
make peace with IsraeL 

Benjamin Netanyahu comes 
from a dissident secular Zionist 
tradition. He and his Likud 
party derive from the “Revi- 
sionist'' movement created by 
Vladimir Jabotinsky, who 
broke with mainstream Zionism 
in the 1920s because he favored 
violence in the straggle against 
the British. 

Unlike the mainstream Zion- 
ists who tried to convince them- 
selves that the Palestinian Arabs 
would willingly allow the Jews 
to form their own state in their 
midst, Jabotinsky said the 
Arabs obviously would fight 
and would have* to be defeated 
and expelled from Palestine. 

“When the Arab claim is 
confronted with our Jewish de- 
mand to be saved, it is like the 
claim of appetite versus the 
claim of starvation,” be said in 
1937. 

The Revisionist Likud party 
in modem Israel has allied itself 
with religious parties for whom 
the Jewish return to Jerusalem 
and the Holy Land has signified 
the approach of the messiah. 
Mr. Netanyahu’s government 
would fall if it lost their support. 
He is in one sense their political 
prisoner, but his hostility to the 
peace process resembles theirs. 

They all, like the growing 
fundamentalist Islamic mov£ 
ments, including Hamas, reject 
compromise. The latter sees no 
peace until Israel is destroyed 
and the Israelis are expelled 
from the Holy Land — which is 
the Muslims' Holy Land, too. 

An American-brokered 
peace dialogue was possible be- 
tween a secular Israeli govern- 
ment, able to compromise, and 
a secular PLO that had ro com- 
promise. Since Mr. Netan- 


yahu 'selection. the struggle has 
become one between Hamas 
and other Islamic militants and 
a Netanyahu government com- 
mitted to the philosophy of Ja- 
botinsky’s Revisionism, polit- 
ically dependent upon extremist 
religious forces. 

In such circumstances it is 
futile for Secretary of State 
Madeleine Albright to talk about 
“creating a serious climate for 
negotiation.*' while offering the 
odd implied and guarded crit- 
icism oflsraeli policy. 

Negotiation now is imagin- 
able only if the United States 
were to present both sides with 
outline terms for a permanent 


settlement, and used the polit- 
ical and economic means at its 
disposal to impose those terms 
on both sides. 

One can say that it is not for 
the United States to impose 
peace on the Israelis and Pal- 
estinians. But if it will not, hon- 
esty as well as honor would 
dictate that it acknowledge that 
it has nothing further to con- 
tribute to the relationship of Is- 
raelis to Palestinians, and with- 
draw. Its current: conduct 
guarantees only that there will 
never be a settlement, or 
peace. ' " ' 

International Herald Tribune. 


© Los Angeles runes Syndicate. 


"They Are Our Mirror’ 


’N THE 1988 Israeli election 


Xcampaign, the Likud party 
used the slogan “Only Likud 
Can.” Anti-Likud activists 
from the peace movement made 
a poster in response. Created by 
the Jerusalem graphic designer 
Rami Eichanan. it featured a 
photograph of his young daugh- 
ter, Sraaaar, and read: “Smadar 
deserves more than the Likud 
can deliver.” 

On Sept. 4, Smadar Eichanan 
was one of four young Israelis 
killed in a triple suicide bomb- 
ing aia pedestrian mall in West 
Jerusalem. She was 14. 

Her mother, Nurit Peled- 
Elchanan — die daughter of the 
well-known peace activist and 
former general Marti Peled and 
a childhood friend of Prime 
Minister Benjamin Netanyahu 
— publicly lashed out at the 
Netanyahu government, saying 
it had created a situation that 
bred terror. 

“These attacks are the direct 
consequence of the oppres- 
sion, slavery, humiliation and 
stare of siege imposed by Israel 
on the Palestinian people,” she 


said in an interview on IsraelT 
radio. • • ‘ 

“These attacks are the re- 
sponse to our acts. On this I 
have no doubt: They are the 
fruit of despair and the direct . 
result of what we Israelis have 
done in the territories. This gov- 
ernment does all it can to de- 
stroy peace.’’ 

She continued: 

“I don’t have any particular 
criticism of the Hamas terror- 
ists; we created them. On the 
Palestinian side, there’s not a 
family that hasn't been touched 
by the death that Israel 
spreads. ;-v 

“All we do in the territories . 
is create, every week, a few . 
more potential kamikazes- 
They are our mirror.” 

In Jewish tradition, families 
hang up black-and-white 
posters to announce the death of . 
a loved one. On the Elchanans’ . 
door is the old campaign poster . 
of Smadar. 

— Mark Dermis, a _ 
free-lance reporter in 
Jerusalem, for the 
International Herald Tribune. 


In Korea, a Growing Consensus That Unification Is Inevitable 


S EOUL — Richard A. 
Christenson, the American 


O Christenson, the American 
government's chief representa- 
tive in South Korea, urged roe to 
repeat to every Korean I would 
run into while here what 
China's Qian Qichen said in a 
recent interview in Beijing. 
“They need to know they are 
not alone,” Mr. Christenson 
said. “They need to know not 
everyone is out to get them.” 

They need to know fate may 
finally be leaning toward Korea 
— a country that, for most of 
(his century, has served as his- 
tory’s tennis ball for the re- 
gion's bullies. 

So wbat was it that the 
Chinese foreign minister had 
said that so struck America’s 
top diplomat in South Korea? 
Just this: “China supports the 
reunification of the Korean 
Peninsula. China adopts a prac- 
tical approach toward the issue 
of the Korean Peninsula.” This, 
from the mao whose country for 
almost 50 years helped prop up 
its ideological mate, the now 
increasingly decrepit and dis- 
reputable North Korea. 

Many South Koreans under- 
standably will take that with the 
proverbial grain of rice. Says 
Unification Minister Kwon O 
Kje: “Remember, there are a 
hundred faces to China. Right 
now, thankfully, the big faces 
are smiling.” But Koreans as 
well as Americans need to un- 
derstand that such an unequi- 
vocal statement from someone 
at the very p innac le of China’s 
foreign affairs establishment is 
not insignificant 

Why China's kinder, gentler 
face toward South Korea? Ba- 
sically, China doesn't want a 
mess on that peninsula. Neither 
does the United Stales: There 
are almost 40,000 U.S. forces in 
South Korea with lots of family 
back in the United States who 


By Tom Plate 


know that their loved ones live 
in the shadow of one of the 
world's largest standing armies. 
Beyond that, in the Communist 
nonparadise where there isn't 


even enough food to go around, 
they’re building long-range 


they’re building long-range 
missiles that could have the ca- 
pability to toast not just Seoul 


The peninsula is 
relatively small, 
but this Cold War 
remnant is the 
remaining ember 
that could ignite 
the world. 


efforts to denuclearize North 
Korea and bring peace to the 
peninsula. Earlier this month I 
interviewed Lee Hoi Chang, the 
ruling party’s candidate to suc- 
ceed die current Korean pres- 
ident in the planned December 
election, and the lead opposition 
candidate, Kim Dae Jung. I re- 
peatedly asked them if they 
wanted to distance themselves 
from America’s effort to bring 
tiie North ro the peace table. 
Neither did. Yet just a year ago, 
it seemed. America could hardly 
do any right by South Korea. 

Let us also not discount the 
efforts of individuals and 


private citizens who do much 
for Korean warp rhp 


At the conference, Robert 
Scalapino — a professor at the 
University of California at 
Berkeley who has been writing 
insightfully about Korea and 
Asia since 1953 — moved the 
audience when he said: “Fate 
seems to have been especially 
cruel to Korea. A people united 
by ethnicity, culture and lan- 
guage emerged from Japanese 
colonial rule only to be divided 
into two states increasingly hos- 
tile to each other.” 

A Korean- American doctor 
told the story of his divided 
family. After the 1953 
armistice, one son wound up in 
the North, but the mother never 
lost hope that someday the fam- 


ily would be reunited. In 1991 . 
the Korean Broadcasting Ser- 
vice’s Separated Family Search 
Program, discovering that in- 
deed the lost son was still alive 
in the North, arranged for him to 
visit the South on a special visa.. 
Just before he was able to come, 
his mother, 83, died — "of old 
age and perhaps, too; of a 
broken heart 

Shortly after that incident 
and partly in response to it the 
U.S. Congress created the Task 
Force on Korean Family Re- 
unification. Now the hope is 
that Korea itself will not have to 
wait as fatally long as that 
mother. 

© Lus Angeles Times Syndicate. 


and Tokyo but someday, per- 
haps, parts of America’s West 
Coast as well. There's also that 
aggressive North Korean mis- 
sile export program to Iran and 
Syria. 

Yes, Korea is relatively 
small, but its strategic role is 
not: This wisp of a Cold War 
remnant is the remaining ember 
that could ignite the world. 
Such tension can’t go on 
forever. In fact, in many Korean 
political circles, a consensus is 
emerging that the unification of 
South Korea, the world’s 1 1th 
largest economy, and North 
Korea, where much of the child 
population is either starving or 
facing malnutrition, may now 
be truly inescapable, no matter 
how daunting me costs to Seoul. 
The- acceleration of the North’s 
decay only heightens the sense 
of inevitability for many in the 
South. 

South Koreans are now even 
coming to appreciate the Clin- 
ton administration’s aggressive 


for Korean peace. Indeed, the 
world needs to know about 
these many unrecognized, un - 
celebrated silent allies of peace, 
especially America's large 
Korean- American community 
of business people, religious 
and academic figures, philan- 
thropists and ordinary people. 

At an international confer- 
ence on Korean peace prospects, 
held in Seoul the first week of 
September, a State Department 
official (who has traveled to 
North Korea on official business 
13 times since 1992) praised 
those who help the North: 
“They have been sending aid, 
they have been there spiritually! 
they are the ones building 
bridges,” said C. Kenneth 
Quinones. “They are the true 
peace process builders.” 

This is not to mention the 
enormous contribution of the 
International and Korean Red 
Cross, the UN World Food Pro- 
gram, Unicef and other human- 
itarian groups whose ceaseless 
efforts to alleviate the tragic, 
growing North Korean famine 
are still not widely enough 
known. 


jN OUR PAGES: 100. 75 AND 50 YEARS AGO 


1897: Cuban President 


NEW YORK - The Herald 
stares that Senor Domingo 

Mendez Capote, who was 

formerly Governor of the 

Province of Matanzas. has been 
elected President of the Cuban 
Republic, the election havin'* 

folron Jr . 


to the outskirts of Fort Smith. 
Here she was taken, from the car 
and flogged with a ear-o’-nine- 
tails. Mrs. Tatum is reported to 
be in a serious condition. Hie 
women charged that - she had 

been guilty of nnmntherly con- 
duct toward her daughter. 


taken place without disturb! 
ance. General Lee. the. trr>;»»4 


ance. General Lee. the United 
States Consul General at 
Havana, is to remain at Wash- 
ington as President McKinley’s 
adviser on Cuban matters while 
die present negotiations with 
Spain are in progress. 


1947: Customs Union 


LONDON — Britain, France 
and eleven other “Marshall 
plan" nations announced they 


would investigate the possibil- 
ity of joining in a European 


1922: Kn Klux Ladies 


FORT SMITH, Arkansas 

Mrs. J. B. Tatum was abducted 
by six women wearing masks 
and belonging to an organisa- 
tion called “Ladies of the In- 
visible Eye “a son of auxiliary 
of the Ku Klux Klan. They 
shackled their prisoner and pla- 
cing her in an automobile, drove 


1 ty ot joining in a European 
customs union. Other govern- 
m ® Qts — Russia and fourteen 
others — will be invited to join 
in the “study group,” the an- 
nouncement said. Nations that 
joined in a customs uni on 
would abandon full economic 
independence for the common 
S^od. Invitations to Russian- 
spnere nations to join in the 
study group would be the first 
moves toward bridging the 
East-West gap in Europe. 



Cpi- 


■ 


’ART? 


coiT^r- 






fph?y\ WEDNESDAY, SEPTEMBER 24, 1 


PAGE i 


Us I 


*U li , 


ART 


*11' \i v\ '[. 


The Flight of the European Heritage 


INTERNATIONAL HERALD TRIBUNE 

SATURDAY-SinVDAY, SEPTEMBER 13-14, 1997 

PAGE 9 


IntcnutLota! Herald Tribune 

L ondon — rf Euro- 
pean governments do 
nor act with lightning 
speed to repair the 
damage they have collectively 
caused through a seemingly 
innocent European Union res* 
ulation. they might soon find 
themselves accused of having 
allowed their artistic heritage 
to be scattered to the winds. 

At the root of the problem is 
the "seventh VAT (value-ad- 
ded tax)" directive that slaps a 
“ j percent import duty on alfan 

SOUREN MEUKIAN 

predating 1973 that comes in- 
to EU countries (on post- 1973 
an. the tax jumps to 17.5 per- 
cent). Effective since June 1, 

1 995. the tax is applied in Bri- 
j.'iin tii ha}f rale (2.5 percent) 

until June 30. 1999. The havoc 
already wrought by the tax 
ought to give Europeans some 
idea of what the consequences 
will be very shortly across 
Europe at double the rate. 

The value of art imported 
into Britain in 1996 went 
down by 28 percent, com- 
pared with 1995. although rhe 
art market as a whole was 
shooting up. Every dealer has 
1 stories to tell about the vast 
diversion of an to the United 
States, away from London 
that, many Europeans forget, 
means away from Europe. 
Johnny Van Haeften. the lead- 
ing English specialist in Flem- 
ish and Dutch pictures, smarts 
over the case of a client based 
in Switzerland who wanted to 
pan with 23 Flemish paintings 
worth around S3 million 
Van Haeften worked out a 
case-by-case proposal. Some 
paintings were to be sold out 
of liis London gallery, others 
at auction through Christie’s 
and Sotheby's. .All the paper- 
v.ork involved would be 
handled by the dealer. 

This last clause was not the 
trilling favor if may seem. 
Brussels has generated a maze 
of clauses which make the 
most levelheaded business- ' 
man’s head swim. Whenever ■ 
he brings in a picture, a dealer I 
must quickly decide whether i 
to pay the 2.5 percent V AT at I 



his objects. Unconvinced that 
this was the right place, he 
dispatched Pan n to 
Christie's New York in 
March. On Sept. 20, Part m 
will be sold there, including 
pieces with estimates of less 
than 520,000, which would 
have been of interest to Euro- 
pean collectors or, indeed, 
museums. Auctioned far from 
Europe, they are unlikely to 
go to Europeans, not really as 


the Uniied States from Lon- 
don or Paris, thousands of 
works of an in the middle and 
sometimes the lower financial 
range. These are arguably 
more important to the living 
culture in its connection with 
the past than the Louvre mas- 
terpiece. This is what collect- 
ors of modest means train their 
eyes on, live with. They are 
the basis of comioisseurship 
built up through seeing, han- 




a result of rhe 2.5 to 5 percent riling, desiring ardently as col- 
payable on the import into the lectors do, not through reading 
European Union, but because reams of scholarly literature. 









T 


European Union, but because reams of scholarly literature, 
few of those who have the In their eagerness to tax the 
wherewithal will find the wealthy the European Union 
time to travel, and no real is effectively dealing a lethal 
collector buys a piece that he blow to the poorer collectors, 
has not seen. Not only that. The 1 7.5 per- 

cent levy on Contemporary 
HE latest disaster for art postdating 1973 hits the 
Europe is the de- poorest among the poorest of 
cision of Edmund de Contemporary artists — the 
Unger, an avid col- Latin American or the Soufo- 
f the last 50 years, to east Asian painter who 
Medieval champlevd dreamed of seeing his pictures 
to Sotheby's New hung one day in a Left Bank 
sale on Nov. 20. Why gallery in Paris or a Soho out- 
don, where he lives? fit whose precarious econom- 
ic,” I was told by the ic balance cannot bear the 
. whose objects are merest extra expenditure, 
lly the property of a There is little time left for 
witzerland, "f wasn’t Europeans. Big art business is 




Enamel plaque of Saint Matthew writing his Gospel 
will be offered for sale at Sotheby's Ne\v York. 


once or have the picture on a off. say. to New York to be Europe the fantastic 12fo-cen- 
bond, whereby he pledges to seen by a collecror, on its re- tury plaque with Moses and 
pay the 2.5 percent on the sale rum the entire procedure starts the’ Brazen Serpent, and on 
price. To get that bond, he afresh. There has to be another Sept. 22-23, the French mav 
needs the agreement of both 2.5 percent bond. Regretfully, wistfully gaze at the Hotel 
Customs and his bank, which the client said no. He packed Bristol at some of the 100 or so 


lector for the last 50 years, to 
send his Medieval champlevd 
enamels to Sotheby's New 
Y ork for sale on Nov. 20. Why 
not London, where he lives? 
"Because,” I was told by the 
collector, whose objects are 
technically the property of a 
trust in Switzerland, "I wasn’t 
going to pay my fellow Euro- 
peans a 2.5 percent fee for 
giving them the satisfaction of 
buying my objects." 

When the collection goes 
on view al Sotheby’s Cologne 
on SepL 18-19. German of- 
ficials will be able to see for 
themselves whether it was a 
good idea to push out of 
Europe the fantastic 12th-cen- 
tury plaque with Moses and 
the Brazen Serpent, and on 


, Donfn Miincum 

Sofa by Salvador Dali in the shape of Mae West's lips on exhibit in London. 

Pleasure Objectified: 
The Art of Sexy Design 


beginning to run away. In 
January, Wildenstein, nomin- 
ally of Paris, closed its Lon- 
don branch, effectively relo- 
cating the bulk of its business 
in New York. In June. Yves 
Mikaeloff of Rue Royale in 
Paris announced that he 
would no longer be selling his 
top notch 17th- and 1 8th-cen- 


By Joseph Filchen 

lutematiunjl Herald Tribune 

L ONDON — "Caution: Prepare to be 
Pleased! ’ ' — the mock warning, with 
its word play on notions of pleasure, 
is typical of the often witty intel- 
ligence that accompanies an exhibition now 
on at London's Design Museum. 

"The Power of Erotic Design," a pion- 
eering venture in many respects, could have 
been just a sexploitation foray along the lines 


Despite its limited size, the show has the 
intellectual ambition to suggest that 20th-- 
century design cannot be understood in iso- 
lation from the newly self-conscious view of 
sexuality' in the wake of Freud's work. 

Even Bauhaus functionalism, usually as- 
sumed to be the hallmark of modernism, is 
challenged as the dominant trend of our cen- 
tury. "The erotic approach is not just a 
baroque appendage to Bauhaus, it really in- 
fuses it. and the two will increasingly be seen 
as part of an overarching spectrum,” says. 


tuiy furniture, so much of of "designer sex from Freud to Madonna.”. Gerard Forde, the show's main curator. 


Customs and his bank, which 
knocks off the value of that 
bond from his credit line. 

On hearing the details. Van 
Haeften says! the vendor was 
appalled. He saw himself em- 
broiled in endless complica- 
tions. Customs and Excise of- 
ficials may demand at any- 
time to see-foe work of art on a 
bond, request documents jus- 
tifying its every move — 


off the lot to New York. 

T.T. Tsui, the Hong Kong 
businessman who amassed the 
hugest Chinese an collection 
in this century and started 
selling chunks of it as early as 
1992. reached a similar con- 
clusion with far more dam- 
aging consequences for 
Europe. 

Last year, he gave up Lon- 


when it left to be restored, to don and tested the waters in 
be cleaned, to be framed, to be his own hometown with Pan I 


Photographed, or for approval 
>y a cOent. If the pictureis sent 


of "The Jingguantang Col- 
lection." as he chose to call 


Bristol at some of the 1 00 or so 
pieces from France mostly ac- 
quired on the Paris market in 
the 1960s. Not of course that 
Americans will be so nasty' as 
to prohibit the Europeans from 
buying in New York. But, as 
excitement builds up at the 
sale, those who left commis- 
sion bids and might have gone 
further if attending in person, 
will be outbid in most cases. 

The import tax does not just 
deflect to New York the cream 
of the market. It creates great- 
er harm still in redirecting to 


which he bought back from 
the United States. 

Giuseppe Eskenazi of Lon- 
don, one of the world’s four 
leading dealers in Chinese art, 
is thinking of canceling the 
yearly June selling shows he 
has been holding since 1972 
co concentrate on die New 
York Asian Week in March. 

As die top of the trade 
moves away, the middle of the 
pyramid crumbles. Hundreds 
of small art businesses are 
dosing across Europe. 


Indeed, there is plenty of graphic material on He may well be right, if only because yin- 
display, including a Japanese motorcycle yang principles mean that Dionysiac drives 
whose feminine forms are designed to ac- often hide behind Apollonian appearances 
commodate a speed-flattened rider. that with time become as transparent as a see- 

But for visitors ready for the risks and through blouse. ' 

rewards of a trek into relatively uncharted Today, there is a palpably sensuous pull iii 
territory ( (he museum itself is in a hard-to-find a masterwork of the rationalist canon such as 
comer of London’s East End), die show, the chaise longue designed in 1928 by Le' 
which runs through Oct. 12, offers a brilliant Corbusier, Pierre Jeanneret and. pre-emin- 
X-ray of a topic" that is ob- ently. Charlotte Perriand. 

vious but hard to pin down. This severe-looking chair. 

Fittingly, the show opens ittlTlfflv, tllC which reclines by sliding the 

with the key furniture of ? O ■ seat along the base frame, was 

Freud's study, including not StlOW ODCTIS IVltll once a blindingly obvious 
just the weft-used analyst’s _ , * r . success as a practical design. 


Roughly lOO.OOOjobsarecon- couch (and some of the an- file nC\‘ flUTllture Today it has equally obvious 
cemed in London and as many tique figurines with strongly , but quite different attractions 

in France, from picture restor- marked sexual features he 0/ rTCllu. S StllClY- tied into its phvsicality of 
ers to moving van drivers, art- collected ) bur also the chair J - steel and leather. This modern 

book sellers and so on. that Freud had specially made dimension is foreshadowed 

r- _ li ■ _ ■ _«■ • n-i - . li. . - _ _.i . r - . _i . r 


Grasping the Sacred in the Ordinary 


By Grace Glueck 

Afir York 77 »/w.« Serrfcr 


N EW YORK — They were 
contemporaries, the two big 
painters of the Romantic 
movement in Germany. 
The\ tried to make visual the non- 
visibie. that is. to show the divine in 
earthly manifestations. Both viewed 
i he study of nature — God’s doing 
as a religious observance, and their 
imageiy was deeply spiritual. It isn'i 
too "much to say. in fact, that the 
profound but sometimes twaddle- 
some Northern mysticism later ex- 
pressed by Wagner and Nietzsche can 
be read in ihe work of Caspar David 
Friedrich 1 1774-1840) and Philip 
Otto Runge ( 1777-1810). 

Friedrich’s was a melancholy vi- 
sion, expressed in sagas of trees, rocks 
and mountains, somber lighting ef- 
fects and Gothic ruins set in brooding 
landscapes. In his work, symbolism 
was rife — a tree, for example, de- 
pending on its leafage or nudity, coutd 
betoken life or death. And he un- 
derstood how natural effects could 
strike a chord in the viewer a peculiar 


ARTS 

COLLECTORS 


rock formation, a blasted tree, a dis- 
tant horizon. 

Runge was attuned to more spon- 
taneous, concrete close-ups of nature: 
babies, leaves, flowers, water in the 
form of flowing springs. His ambition 
was nothing less than to communicate 
a sense of" human kinship with the 
universe in all of its parts. But he died 
at 33. leaving only fragments of a 
grand visual scheme. 

Friedrich and Runge dominate 
"Romanticism to Realism: 19th-Cen- 
tury German Drawings," a small- 
scale show- at the Pieipont Morgan 
Library (through Jan. 4). Ii presents 
work by some 40 artists, ranging in 
date from 1783 to the 1830s and in- 
cluding names — besides the two 
stars — like Adolph von Menzel. Jo- 
hann Heinrich Wilhelm Tischbein, 
Josef Platzer and Julius Schnorr von 
Carolsfeld. 

Truth to tell. German art of the 19th 
century was by no means Europe’s 
most exciting. Yet this show, mostly 
assembled from the Morgan’s own 
holdings, is a gourmet presentation. 

Friedrich’s mournful watercolor 
"Moonlit Landscape” (probably 


done between 1830-1835) is a fairly 
typical example of his work, packed 
with yearning references to ihe eternal 
order of nature against the chaos of 
human life. Ii portrays a nocturnal 
landscape with trees and water il- 
luminated by a pale moon and streaks 
of cloud that hang low over gentle 
slopes. The only human traces are a 
rustic fence and a dark statue set ’ 


Said to be the most ambitious German 
prints of the Romantic period, these 
paeans to nature and the cosmos de- 
pict morning, day, evening and night. 
At fust glance, they seem like oddball 
astrological charts, but their elegant, 
linear imagery, a foreshadowing of 
An Nouveau, quickly asserts itself. 

One of foe more amusing entries in 
foe Romantic vein is Tischbein’s 


for him — an astonishing piece. Theoret- 
ically. foe design was based on foe need to 
accommodate Freud’s posture shifts during 
long sessions listening to his patients’ in- 
timate avowals, but the resulting wooden 
chair is both minimalist and anthropomorph- 
ic, a sensual version of Giacometti's figures 
— and an uncanny forerunner of the overtly 
sexual furniture, consciously based on female 
body forms, produced decades later by the 
influential Italian architect Carlo Mollino and, 
in a more ironic fashion, the British pop artist 
Allen Jones. 

This show's special value is its ability to 
suggest how pervasively (and often how 
subtly) sexual values have been a defining 
influence in shaping the objects, clothes and 
rooms in our environment. In making foe 


< literally) in a celebrated photograph of its 
designer stretched out on the chaise longue, 
her shadow fusing with it to suggest the 
possibilities of this movable bed once in use. 

These unspoken, perhaps unconscious di- 
mensions have never been illuminated as sys- 
tematically as ibey are here for designers from 
Tiffany to Schiaparelli and even creators of 
blue jeans. It is a particularly daring vemure- 
because. as the catalogue smartly points out,' 
design presents particular difficulties in com- 
munication because of the inevitable absence 
of context. Take foe legendary cigar-shaped 
E-type Jaguar: On display, it is an icon; in foe- 
street, it became an object of desire. 


among the trees, thought to be that of "Power of Man” (pre- 1820), a curious point, the explicit displays^ — like Dali's sofa 


the Virgin in her role of Mater Dol- 
orosa. Aside from its spiritual aims, 
foe work shows Friedrich’s interest in 
foe effects of color and light, which 
made him a pioneer of plein-air paint- 
ing in Germany. 


pen and watercolor sketch portraying 
two powerful nude men on horseback 
urgently followed by a swarm of fowl, 
lions, (fogs and other creatures. 
Tischbein. admired by Goethe, was 


in foe shape of Mae West’s lips — often are 
less convincing than foe displays intended to 
point up indirect influences. 

In a striking minimalist display, a TTionet 
chair is flood-lit against a wall to throw into 


T HE Design Museum's show may be 
breaking ground for a trend — dare, 
one call it "neo-Freudian exhibition-’ 
ism”? — that seems io be gathering 
steam and size. (Already, Vienna has opened a* 
blockbuster exhibit on Freud and the arts). ‘ 
Philippe Starck recently offered the view, 
that all objects of design are sexual. Ru-' 
minating at foe design fair in Barcelona and. 
again in this month’s French Vogue, Starck 1 
worried aloud that most of the objects around 
us are "male" and that too many cars, scoot-* 
ers and VCR’s "look like weapons.” Instead, 1 
he wants design to evoke playful objects of 
intelligent games. 

A particular virtue of the Design Museum’s, 
effort is its graspable dimensions. The or- 
ganizers have made an asset of Umired budget 
and lead time and limited foe show to a few 
dozen objects, some good videos and a cata- 
logue with pithy texts on postcards. The result- 
is suggestive in foe best sense. 


apparently obsessed by the theme of relief its curvilinear legs and make its rattan- 


O NE of Runge ’s contribu- 
tions is "The Child," an 
enchanting small sketch, 
meant for a larger painting, 
of an infant lying on its back, hands 
outstretched to greet foe world. But 
his major work here is a set of four 
large allegorical engravings. “Times 
of Day” from 1805; studies for a 
cyclical suite of vast designs he 
planned to house in a special building, 
where poems would be read to music. 


man ruling nature through reason. 

In a different mode, but equally 
entertaining, is "Three Young wom- 
en Contemplating an Hourglass" 
(1824), by Ludwig Emil Grimm 
(younger brother of foe fairy tale 
Grimms). In this charmingly melan- 
cholic Dureresque drawing, three 
comely maidens attended by a lute 
and a doe sit before an hourglass, a 
sort of memento man commenting on 
the passage of time that will bring 
them age and death. 


woven seat resemble a face veil. It is a re- 
minder of foe perhaps unconscious design 
refinements in this chair, a fixture of caffi me 
in Vienna, that would have been unthinkable 
before the modernist mood whose emergence 
is linked to Freud. 

Similarly, streamlining is traced to its mod- 
ern origin as a mark of sensuality. The Main- 
boucher corset, immortalized in Horst’s pho- 
tograph, is modern because it was designed 
not for dressing but for undressing (a notion 
revamped by Madonna’s embrace of under- 
wear as outerwear). 


n 


j HARRY FANE 
| wishes to purcha se old 

j CARTIER 

j objects: 

clock*. cigarettes case*. powder baste. 
i Je>k JC£«*sone-', ,rafrics ’ elc 

j please cod tact: 

! OBSIDIAN, London 
Tek On-030 8606 Fas Ori-831 5834 


ANTIQUES 


EDUCATION IN 

Art-Cut wre-Multimedia 

IESA j 

Insdtur d'etudfs ‘ j 
super torn des Arts 

5. Aw dr TOpvra 
7500/ Paris 
Ttl. - (OH 42 *6 
Fax - ’ >0,1 42 *7 42 5-' 


THE FIRST 

ANTIQUES fair 

IN PARIS 

from It to 29 September 

Place de la Porte d’Auteuil 
75016 Pans 

I Opening : H a - tH - toSp-m- 

Fret entrance vpo* 


GALERIE 

BERES 

25, Quai Voltaire 
75007 PARIS 
Tel +33 (0) 142012791 
Fax +33 101 t 40 27 95 8fi 


19th -20th 
Century 
Masterworks 

Paintings, 
drawings 
& sculptures 

Salon des BEAUX-ARTS 
Paris 

Stand 40 , 


FIAC 


1-6 

October 97 

Espace Eiffel Braniy 
Paris. 


Every day from 1 2 p.rn. to 8 p.m, 
evening Thursday 2 October 
12 p.m. to 10 p.m 
S.itTJrdiiy <md Sunday 
from 10 a. in. to S p.m. 

-Monday 2 October 
from 12 p.m. to 6 p.m. 


ly Important and Rare Painting bt 


Tean-Etienne Liotard 

J <1702 - Geneve - 1789) 





CENTURY 
BRITISH ART FAIR 


Internet. : 

http- .vfiac.roed-oip.fr 

Minitc-I : 

3616 So Jons H,?9 f-'mn.) 


canvas 30 x M an (11 -S by 25.2 m.) Signed: JE Liotard 

Michel & Fabrics Fare. LA VIE S1LENC1EUSE EN FRANCE. 
LA NATURE MORTE .-Hi XVTff SIECLE. ilL p. 205. no. 313 
Ren6e Loche & Marcel Roethlisberger, L' Optra ioniplela di 
Uolurd, p. 120, no. 352 / Marcel Koethlisbere in The /. Paul 
Getty Museum journal. Vol. 13/1985, pp. 1 XKm 20, ill. no. 22 


A 


Prm: Swiss Private Collection 

GALERIE 

UNGEMM 


FRG - 40477 DuSSELDORF. 
Schwerinstr. 38 
Tel. (49) 211-494 202 
Fax {49) 213—194 212 
e-mail; Linjaenaubi2rt6tt-onljne.de 
French Mobile 06 09 62 60 70 


CHATEAU VM 

22*?" L\ MODEKKITt APRES 1958^4 
LHM| * EES 

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,, 



THE ART GLIDE BROCHURE 

To neeittt a FREE COPY of Bus contpHaiion of goUerim* 

auction howms, antique dealers, museum* umd art fain 
aronad the world, 

please ttrite to: 

Eiiza LUCIFER0 

Lytcrjvaxional Herald Tribune, 

282. av, Chari es-de-G anile, 92521 Notify Cedes France 


Royal College of Art 

Kensington Gore. London SUI~ 

24 - 28 September 1997 

I lam - 8pm. 7pm Iasi 2 days 

information & [eemre programme 
0181 1611 


auction sales 

IN FRANCE 


m DROLIOT RICHELIEU 

9, rue Drouot 75009 Paris -TeL: 01 48 00 20 20 

Thursday, 25 September 1997 

Booms 5 & 6 at 2 15 p.m. PAINTINGS. WORKS OF ART, 
RiRNTnjRF from a picardy cSCite. Etude TAJAN, 3“ rue de$ 
Mathurins “5008 Puns, tel.: 33 { 0‘> 1 53 30 30 3<J * fax: 
35 (0) 1 53 30 30 31- 

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(212) 7J7 35 97 / 737 3 fi 13 - Fax: f212) S 6 l 14 34. 











































































































'Jh it* Ih, VEDNESDtiU; SEPTEMBER 24, 1997 


PAGE 3 


$ 


BUSINESS/FINANCE 

SATURDAY-SUNDAY, SEPTEMBER 13-14, 1997 



PAGE 11 


Malaysian 
Airport 
On Course 

Project Escapes Delay 
Amid Nation’s Crisis 


By Thomas Fuller 

Special to the Herald Tribune 


SEPANG, Malaysia — In a dusty 
clearing surrounded by rubber trees 
and oil palms is die megaproject that 
slipped through. 

Malaysia may have been forced to 
postpone construction of everything 
from a $6 billion hydroelectric dam to 
an administrative capital outside Ku- 
ala Lumpur, bat plans for the country's 
new airport remain untouched. The 
concrete at the Kuala Lumpur Inter- 
national Airport had already set when 
the market turbulence that plagued the 
region in the past few months spread to 
Malaysia. 

On Monday, Malaysia's crime min- 
ister, Mahathir bin Mohamad, is sched- 
uled to preside over the landing of the 
first jumbo jet, a Boeing 747 that will 
take off from Kuala Lumpur's current 
creaky international airport and touch 
down at the new facility 50 kilometers 
(31 miles) south of the capital 

In a country that has bum the world's 

tallest towers and its largest manmade 
surfing complex, the new airport has 
likewise been described in superlat- 
ives- ** largest in Southeast 
Asia in terms of acreage, and its control 
tower is said to be one of the tallest in 
the world. The government has es- 
timated the cost of the central facilities 
at the airport at $3 billion. 

It has been spared the fate of the 
other projects because the Malaysian 
leadership considers it an integral part 
of a larger plan to develop a high- 
technology industrial center. It also is 
largely paid for. 

When it opens for commacial traffic 
early next year, passenger capacity for 
the Malaysian capital will moire than 
double, transforming Kuala Lumpur, its 
planners hope, into a regional air-trans- 
port hub. Tito new airport will be able to 
handle 25 million passengers a year, 
roughly the number of people handled 





MkV FiDandcfffipKio] lo I hr b*cniau><ag) Herald TriNJOr 

The canopied passenger terminal of Kuala Lumpur's $3 billion airport. 


in both Bangkok and Singapore. 

“If you talk about the region, any 
airline that comes from Europe can stop 
at Bangkok, Kuala Lumpur or Singa- 
pore," said Khoo Ewe Pbong, a senior 
vice president at Malaysian Airline Sys- 
tem Bhd., the country's national carrier. 
“These three major airports will be the 
right place for any airline ro transit. The 
choice is theirs. It depends upon how we 
market the place and the price.* 1 

Officials in the Transport Ministry 
say charges at the new airport will be 
competitive with those of neighboring 


airports but have declined to give fig- 
ures. In Hong Kong, another potential 
competitor for Kuala Lumpur, airlines 
recently protested some proposed fees. 

“When it comes to the bottom line, 
it is a bidding war.** said Mr. Khoo, 
who added that if airport charges in the 
region were lowered, the savings 
could be passed on to passengers trav- 
eling there. 

At risk in the regional race to 
provide modem airline infrastructure 

See AIRPORT, Page 15 


Shell Buys All of Plastics Venture 

Italian Partner > Montedison, Says Sale Would Eliminate Debt 


CeufiMttrOte Slug Fn*u Dupuk-bn 

LONDON — Royal Dutch/Shell 
Group agreed Friday to buy out the 50 
percent stake in its Montell NV chem- 
icals venture of its partner Montedison 
SpA for $2 billion as the British-Dutch 
oil and transportation company bej 
major restructuring of its work 
chemicals business. 

The sale is a relief for Montedison. 
Italy's biggest natural-gas supplier and a 

specialty-chemicals manufacturer, 
which is understood to have seen its stake 
in the world's biggest polypropylene 
producer as a marginal operation. 

Shell also confirmed that it would 
team up with BASF AG of Germany to 
make polyethylene, the basis of many 
plastics. 

Together, the moves are part of 
Shell's effort to coordinate its chemicals 
operations after the world's largest pub- 
licly traded oil company reported flat 
profits in the first half. 

For Montedison, the transaction 
eliminates its debt, giving it the freedom 
to challenge Enel SpA and other private 
electricity producers in selling energy 
directly to Italian customers. 

•The organization be m anaged 
more efficiently, and that's what they're 
trying to do/' said Chris Buckley, an 
analyst at Merrill Lynch & Co. ' 'This is 
one area where changes will be very 
beneficial.” 


The company said the sale would 
wipe out its debt of 1 .4 trillion lire ($800 
million). leaving ir with 2.19 trillion lire 
in cash. 

“This opens new scenarios for the 
future, the perspectives that were pre- 
viously stifled by debt,” Antonello Di 
Mascio, an analyst at Nusa SIM SpA in 
Milan, said. 

“Montedison is transforming itself 
from a basic-chemicals company to con- 
centrate on energy and agro-industry." 
Montedison currently produces about 7 
percent of Italy’s electricity. 

The Montell purchase gives Shell 
total control of the 50-50 joint venture set 
up in April 1995. 

It is a world leader in polypropylene, 
one of the fastest-growing products in 
the plastics market. 

Shell and BASF said their boards had 
approved plans announced last October 
to make polyethylene, rolling in some 
assets from Montell and some from an 
existing Shell-BASF venture called 
Rheinische Olefinwerke GmbH. The two 
now will start (he process of obtaining 
regulatory approval from the European 
Union. 

Terms were not disclosed, though the 
two said that together they would have 
the capacity to make 1.4 million tons of 
polyethylene a year. 

The business was a small one for 
BASF, generating about 1 billion 


Deutsche marics l $557 million) a year gf 
its 49 billion DM a year in revenue. 

Analysts said BASF had been at- 
tempting to wean itself from the busi- 
ness since the early 1990s, when it was 
losing money in bulk fibers, a niche of 
the commodity chemicals business that 
depends on the raw material of poly- 
ethylene. 

“It's a question of critical mass,” 
said Michael Stone, an analyst with 
Deutsche Morgan Grenfell in London, 
who follows BASF. 

“It's been very important to them to 
reduce their current position. We're be- 
ginning to see signs of price pressure in 
the business, and it’s coming because of 
capacity expansion" on the part of 
rivals such as Shell, he said. 

At Shell, the pacts between BASF 
and Montedison were part of a program 
of “radical reorganization” at the 
chemicals unit that will begin fan. I. 
when Evert Henkes becomes chief ex- 
ecutive officer of a new umbrella group. 
Shell International Chemicals Ltd. 

The new company will be responsible 
for providing global strategies and op- 
erational advice to Shell's chemicals 
businesses worldwide. Shell said. 

In Milan, shares of Montedison 
surged 43 lire to close at 1,254. BASF 
shares in Frankfurt closed O.SO DM 
higher at 62.80. 

(Bloomberg, Reuters, AFP ) 


Motorola’s Plan: Send Out the Clones 


L'noyidni f>r Otr Sltf Fn<m Dispmrhn 

NEW YORK — Shares of Motorola 
Inc. rose Friday after the company said 
it would stop producing clones of Apple 
Computer mc/s Macintosh model, re- 
sulting in a $95 million charge against 
third-quarter earnings. 

The company, which made the an- 
nouncement after the market closed 
Thursday, also said earnings in the third 
quarter would be significantly below 
expectations, hurt by weak sales of 
pagers and one-time costs. 

Motorola had planned to make Macs 
built to a new hardware standard. But 
analysts said it had no choice but to give 
up cloning altogether when Apple de- 
cided not to license software to run 
those new computers. 

“This is not a surprise in the slightest 


— and it's a logical reaction/ * said Eric 
Lewis of International Data Corp. in 
Mountain View. California. 

Apple decided to let other companies 
copy the Mac in late 1994. The company 
hoped clones would help strengthen the 
Macintosh platform against foe dom- 
inant “Wintel” machines, which use 
Intel Coip.'s chips and Microsoft 
Corp.'s operating software. Analysts 
said Apple started moved away from 
licensing after Steven Jobs, a co- 
founder of Apple, took over as chief 
executive from Gilbert Amelio in July. 

Motorola's decision marked foe 
second time in less than two weeks that 
a major clonemaker effectively had been 
eliminated as a competitor to Apple. 
Last week, Apple bought most of Power 
Computing Corp., the first and most 


successful maker of Macintosh clones. 

Motorola's withdrawal and foe 
Power Computing acquisition leave 
UMAX Computer Corp. as the only 
large maker of Macintosh clones. 

Motorola’s stock plunged 11 percent 
laic Thursday but regained some of foe 
lost ground Friday. Motorola's shares 
rose $3,125 to close at $69,125 on the 
New York Stock Exchange. 

Motorola said it expected its third- 
quarter results to be hurt by weakness in 
foe world's two largest markets for 
pagers, foe United States and China. In 
China, foe paging market is experienc- 
ing a larger-than-normal seasonal 
downturn, and paging operators in the 
United Stares have continued to control 
inventories tightly to try to improve 
their financial positions. (NYT, API 


ECONOMIC SCENE 


V- t* 




9 ' 


Battle of the Banks Rages in Korea 


S 


By Velisarios Kattoulas 

International Herald Tribune 

EOUL — In the middle of one of 
South Korea's biggest economic 
upheavals since the Korean War 
in 1 953, an ugly fight has broken 
out over foe scope of change needed for 
lasting stability and future prosperity. 

The collapse of an unlikely yet lu- 
crative joint venture between a local 
food-processing company and a Hong 
Kong investment bank has pitted one of 
foe most prominent foreign investors in 
South Korea against local business lead- 
ers and officials, stoking suspicion of 
market liberalization and capitalism in 
general. 

Philip Tose, foe chairman of Hong 
Kong-based Peregrine Investment 
Holdings, first grabbed headlines in 
South Korea in 1992 when his Peregrine 
Group joined with Shin D ong Bang 
Groap to form South Korea's first joinr- 
venture securities company. Peregrine 
took 45 percent of foe new company, 
called Dongbang Peregrine Securities. 

Under ms stewardship, Dongbang 
Peregrine quickly became one of South 
Korea’s most successful securities 
companies. But respect for Mr. Tose's 
business savvy evaporated this year over 
Dongbang Peregrine’s role in South 
Korea’s fust hostile takeover bid. 

Although foe bid failed, it alienated 
South Korea’s business community, 
which is wary of hostile takeovers. Ap- 
parently because of this episode, ana- 
lysts said. Shin Dong Bang Group sold 
its stake in the brokerage to Sungwon 


Group without telling Mr. Tose and 
Peregrine. 

Kin Jin IL director of public relations 
at Shin Dong Bang, predominantly a 
food-processing company, denied any 
link between public anger over the 
foiled takeover bid and foe secret sale, 
saying it had been part of a restructuring 
operation. 

“We decided to concentrate corpo- 
rate energy on food-related business,” 
be said. 

But at foe same time, Mr. Tose im- 
plied that foe sale had undermined foe 

A joint venture’s collapse 
has pitted a foreign 
investor in South Korea 
against local business 
leaders and officials. 

brokerage's competitiveness because 
the finan cial-services group Sungwon, 
since last week foe new majority share- 
holder, with a 52 percent stake, had a 
weak balance sheet. 

Furthermore, be charged that the sale 
had violated South Korean law because 
Shin Dong Bang had failed to get prior 
approval from the Ministry of Finance 
and Economy. Officials there declined 
to comment on the legality of foe sale. 

“It is important.” Mr. Tose said this 
week, for Dongbang Peregrine Secu- 
rities to have “financially strong share- 
holders who have foe sort of capital 


backing that will be required.” 

Still, he said, “we would welcome a 
strong new partner who can make a 
substantial capital commitment to a 
partnership with Peregrine.” 

Mr. Tose has angered business lead- 
ers and government officials by calling 
for a sweeping liberalization of South 
Korean .financial markets. Such 
policies, which would benefit invest- 
ment banks such as Peregrine, could 
ruin scores of South Korean financial 
institutions that currently function in 
protected markets. 

For four decades, successive South 
Korean governments have strong- 
armed banks into lending to businesses 
that were deemed important to econom- 
ic development, whether they could re- 
pay foeir Joans or not. In exchange, the 
government has protected financial in- 
stitutions from foreign competition. 

That arrangement helped turn South 
Korea into one of the world’s most 
dynamic economies. But a recent slow- 
down in growth has triggered a wave of 
bankruptcies, leaving banks under a 
mountain of bad debt. 

In foe first seven months of 1997 
alone, South Korea suffered more than 
72,000 bankruptcies. Bad debts at foe 
nation’s banks could rise to 14 trillion 
won ($15.4 billion) in 1997 from around 
10 trillion won in 1996, according to 
Peregrine. 

Moreover, Seoul, under pressure from 
its trade partners, has storied to dis- 
mantle its barriers to market access, rais- 

See FIGHT, Page 15 


CURRENCY & INTEREST RATES 


Cross Rates 


Sept. 12 

. EC ite on u £F. te o 

um a« ,5 g£ 1ST *3 aS* 

3US 5825 3M«S WO Uftj- »2Dt l.W 

^ 1118 M Sc 'Mi 

iJBt — tun Mj® t mm • itatra — 

uuo ““ SffU *5 fits ms uaa n» 

VHJ5 UH® 9W5 Wfl ,sQ£3 i new jflJE 1.533 IBJT 

- UB.UW *** 1 gS-gS JS Eg'*** MB' 

BSSaSgs-a^s" 
s s «g Sjffs — 

1 ECU 111® “5* jSjj 1732? 3018 20375 1017 1-373} 34SU 


Libid-Libor Rates 


Andtr^as 

iRBStt 

FnakfBrt 

London to) 

Madrid 

MBon 

Maw York (1 
Pails 

Toronto 
Zurich 
1 ECU 
I SDR 


Sept 12 

5 wax * Front* 

uonor D-Mar* Franc Slutow Fraac Yten ECU 

J-rawflh 5V* -5** 2V*-3* TVa-Wi Wb-3*. £-JJ» 

rUnwirti 5r*-5>V* 3V»-3M l 1 *- IV* 7Vo- 7W 3 « ■ 3*» W-V* **J»-*J» 
Mnonth 5^*-S«V. 3VW-3V16 7V.-7W 3** -3*. 9* - Y* i 

l.yttS 5^-5% 3W.-3W 18*. 1ft 7 W-TH 3*» -3Vi» Yu - *% 44t-4« 

U^wtm^&unas af SI mOi bn mtrtiman (aeequfnleat]- 


Other Dollar Values 


Currency Pw» 

AiSMLptsa O.WS 
MiMnS 1-3879 
AHtrimtch. 12-557 
Bradnrf 1-0918 
Cb i nMf yuan 83189 
CadikanH 3345 
Dab&toMt 
Egypt, pound 13® 
Fta. cmrtkfl 5-35*4 


Currency 
enekdrac. 
HengKao** 
Hcmg-farinJ 
Indian rapa* 

Uda-rupab 

UisiiE 

K'tvdMr 
Motor- nog. 


Per* 

281.30 

7.7*54 

19556 

34J9 

29*50 

03656 

34958 

03025 

2*49 


OhtoKV 

itoPW 

H.ZeetondS 
Norw. tonne 

PeflsbdoTT 
Part, escudo 
fcSSTOUe 

Saxbriyai 

Si*S 


Per* 

7.77* 

1.576 

73*3 

32.25 

WS 

18T35 

5843.0 

ITS 

1.516 


Carreaqr 
5. Air. rood 

S. K or- woe 
Swed- kroon 
Taiwns 
Tina tufirt 

jurtattfn 

UAE dirtiatfl 

VcoetftoJw. 


Per* 
44915 
90860 
7.7193 
- 28-61 
34.90 
169660 
1671 
--95.75 


Forward Bates 

M40V U*T O’™ 

Sr* ’"s as iss ssr 

sssr; :s .is ^ 


30-doy g$W * n ' 

13179 5»26 ,19 J* 

I US? U*® U73S 

•.mercisle 


DtshOem* 17826 17788 *' __ genzj Crrr.menri: 

, Source*: ING Bank ,Tckr *" 

rtoBana UVUank Boa** orffi?** 


Key Money Rates 

United SMe* O 

Discount rote 
Prwonrte 

Federal toads 

Pfrdoy CPs fli plew 
lSMnycPdotom 
3-moirtt. Treasury bffl 

1 - yacr Treasury Ml 

2 - yoorTieauryha 

5- yoer Treasury nolo 
7^rear Treasory note 
UHroar Treasury note 

jOywr Treasury band 
MenflUynaaMnyKA 

Japan 

Dtscomt r«K 

Qflntwey _ ; 
miontb irtwiagik 

3Hnonfft 

6 - awnU] tolei jw* 

10 -ysar 
Germany 
Lombard rate 

CoHotoneir 

unootti intortartk 
loontti mferMto 

64 iaatli inlerkonk 

lD-y«ir Bund 


SJ30 

Brt 

5W 

5jW 

530 

*96 

514 

5.93 

6.17 

623 

629 

639 

SJJ9 


030 

0l38 

ass 

0-52 
034 
2 22 


-430 

112 

120 

131 

142 

585 


500 

816 

5<6 

161 

531 

4.99 
530 

5.99 
627 
623 
6J9 
638 
i Vf 


030 

043 

035 

033 

034 
2J6 


430 

3.13 

320 

.131 

3X2 

531 


Brtttou 

B<aik baso rate 
Call money 
lnnentt Woftaak 
3-moott. Itoortank 
6-maatti latertamk 
10-year GUI 


730 7.00 

7Ve 730 
7Vt 7W» 
Tfli 7 Vm 
7¥» VU 
631 6.96 


France 

UdKwnfien rate 110 110 

Ca 8 money 3V* 3** 

l-mrtfctofetoaaft 3h 3« 

3-omiHi totertcak 3V, 

S-owafb tntertKHt* SW 

10-yew OAT 537 556 

Sources: Reuters fltoomfrera, Merrttf 
Lrncft. Bank at Takyo-Mlfivblihl. 
Ceamevbonk, Cn*a LyoprOs. 


Gold 


JtM. P3*. Offt 


NA 32430 +11B 
32325 3213S rl.70 

HA NA - 


ZBriek 

London 
NewYwfc 
U.S. Oa/km per ounce. London official 
Otings: Zurich and New Voi* 
and dosing prim- New Yuri 
tOeO 

Sam fcafcrt 



Y ou never know when 
you’re going fo be 


dumped on. 

In the morning, the 
weather forecast calls 
for windy and cold. And 
by mid-aftemoon, you’re 
caught in a downpour. 

Well, if you must get 

caught, it better be in our improved Lands’ 
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Because after a dozen years of making the 
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PAGE 12 


INTERNATIONAL HERALD T RIBUNE, SATURDAY-SUNDAY, SEPTEMBER 13-14, 1997 

' THE AMERICAS 


The Dow 


Dollar in Deutsche marks 



No Happy Ending for Marvel 

It Faces. Bankruptcy as It Fails to Reach Credit Deal 


Markets Cheer Figures 
Showing Low Inflation 


UP 


irk 


i 


L;t 




■V 


By Floyd Noiris 

Wne York Times Steviee 


would provide the company with failed. Marvel has been throwing 
funds. It offered no de- around threats, including one that 
SKS™ 8 it would seek to cancel die license 


A M J J A S 


NEW YORK — In comic 
books, the superhero faces numer- 
ous obstacles and often seems to be 
in imminent danger of death or 


tails. . . 

The company ’s senior creditors, 
led by Chase Manhattan Bank, had 

no comment. , . 

The saga of Marvel since it 


defeat. But somehow the hero ai- entered bankruptcy last year has 


NYSE "• 
NYSE 
HSSE . 
WYSE . . . 
ILS. 

AMEX 

Tor onto 

SSoPauto 


ThtfOcwr 
S&P60O •• ■ 

: s&p«fi : 77 

tamposteT" 


©4PM. 

774227 

923M 


ways seems to prevail. 

But that has not been the fate 
thus far for Marvel Entertainment 


featured several battles. Bond- 
holders, led by Carl Icahn, 


for Marvel toys that Toy Biz 
owns. 

Toy Biz says it is willing to keep 
talking, but so far no deals have 
been reached that did not fall apart 
within days. 

At a bankruptcy hearing last 


Group tnc., creator of many of the stock from a stockholder, Ron- 
those superheroes. Marvel’s ef- aid Perelman. In the process. 


wrestled control of a majority of month, Judge Baiick said she 
the stock from a stockholder, Ron- would consider alternatives at the 
aid Perelman. In the process, next Tuesday if no agreement had 


AMEX' Ma rket Value 

Tor onto ftde* 

SgoPauto Bovespa •' ' 

Mexico City Bofea 
■Buenos Aires Men tal 
Santiago ~ >PSA General ~ 
Caracas Capital Genera* 

'source: Bloomberg. Reuters 


4aaao 477.05 + 1.31 

1 1649.34 1639.22 +0-62 j 

67231 666.86 *0-82 i 

6759.70 6724.40 +0.52 

11325.65 10083.50 +3.30 

4830.36 4727.40 +2^37 

814.47 793.44 +2.65 

5516.19 5527.65 -0.21 


814.47 

5516.19 


1054734 1043937 +1.03 


InicrrLiU.tuI Ha-rakJ Tnhtm; 


Very briefly; 

Ford Selects Sao Paulo for Plant 


forts to emerge from bankruptcy 
have not been successful, in large 
part because the players are unable 
to fashion a deal that everyone can 
live with. 

On Thursday. Marvel said it had 
failed to reach a deal with its cred- 
itors. With the company’s latest 
financing package set to expire 
next week, the absence of an 
agreement has raised questions 
about how it will pay its bills. 

In its announcement. Marvel 
said it would ask the bankruptcy 
judge. Helen Baiick, at a hearing 
Tuesday to “consider an altern- 
ative financing proposal” that 


everybody cut deals with Toy Biz 
Inc. Marvel owns one quarter of 
Toy Biz, which has a royalty-free 
license to produce toys based on 


Marvel characters, such as Spi- 
dennan. All of those deals fell 


apart, however. 

Mr. Icahn’s current problem is 
that even though he ana his allies 
control the company's stock, the 
banks take precedence in bank- 


ruptcy. 

So far. efforts to satisfy the 


banks by giving them new debt and 
ownership of Marvel’s trading 


been reached. 

Those options could include 
turning the case into a Chapter 7 
proceeding, in which the company 
would be liquidated. 

But Marvel also is considering a 
more unusual task, which was en- 
dorsed Thursday by a committee 
of stock owners. That would in- 
volve dismissing the bankruptcy 
case, leaving it up to the banks to 
sue in state courts to seize assets 
securing the loans. 

Will Marvel survive? And who 
will control it? Don’t miss next 


card and sticker companies — week's exciting episode in this 
Fleer, Skybox and Panini — have comic book saga. 


SAO PAULO ( Bloomberg) — Ford Motor Co. said Friday it 
would build an engine factory in Sao Paulo. Brazil’s wealthiest 
and most populous state, in the city of Taubate. to try to expand 
ns share of Brazil's rapidly growing car market. 

Ford previously invested S450 million in another factory in 
that city to manufacture engines and transmissions for Fiesta. 
Escort and Ka models. 


American General Makes Bold Bid 


Imperial Holly Wins Sugar War 

SUGAR LAND. Texas (Bloomberg) — Imperial Holly 
Corp. said Friday it would buy Savannah Foods & Industries 
Inc. for S58 1 .9 million in cash "and stock, ending a bidding war 
with Flo-Sun Inc. 

Imperial Holly will offer S20.25 a share in cash for 50.1 
percent of the 28.7 million shares of Savannah, and the 
remaining shares would be purchased with either Imperial 
Holly stock or cash. Savannah’s shares closed at SI 9. up 93.25 
cents. 

■ Applied Materials Inc-’s board approved a 2-for-l com- 
mon-stock split to try’ to make the shares more affordable. 
They closed at S96.625, up S2.3125. 

■ Westinghouse Electric Corp. is close to selling its Thermo 
King unit for about S2.5 billion, people familiar with the 
situation said. An announcement of the refrigerator unit’s sale 
is expected as soon as Monday. 

■ Somnus Medical Technologies Inc., a maker of anti- 
snoring devices. tiled with the Securities and Exchange Com- 
mission for an initial public offering of its stock less Sian two 
months after the government approved its technology aimed at 
shrinking tissues that block the air passages of sleepers. 

• Detroit Diesel Corp. dropped its bid to buy Outboard 
Marine Corp. after a rival bidder, Greenmarine Acquisition 
Corp., said its higher bid had resulted in its owning 9 1 percent 
of Outboard Marine's shares. m.iomhert;. ap 


Cn^jJh Ojr Ssjff Pawn Dopurta 

HOUSTON — American Gen- 
eral Corp. said Friday it would pay 
$1.2 billion in cash and stock for the 
55 percent of Western National 
Corp. it did not already own to try to 
increase its annuities business. 

American General, an insurance 
and financial-services company, 
said it would pay $29.75 a share for 
Western National, an insurer. The 
amount, based on a price of $50 a 
share for American General, is to be 


unchanged unless American Gen- 
eral's shares rise or fall more than 6 
percent. 

The acquisition makes American 
General the third- largest U.S. writer 
of individual annuities, its chairman 
and chief executive, Robert Devlin, 
said. Annuities are one of the fastest- 
growing pans of the insurance busi- 
ness. American General purchased 
its original stake in Western General 
in 1994. Insurance takeovers are ac- 
celerating as companies try to take 


advantage of cost savings and 
provide a wider array of services 
amid increasing competition. 

American General s offer repre- 
sented a premium to Western's 
stock price. Western closed at 
S2S.4375 in New Yost, up 31.25 
cents. American General was 56.25 
cents higher at S50.5D. Speculation 
that American General won Id raise 


its stake has helped push Western 
National's stock uo 46 percent this 


National's stock up 46 percent this 
year. i Bloomberg. Reuters; 


NEW YORK — Stocks rose Fri- 
day on the release of new data 
showing moderate economic 
growth without much inflation. 

The Dow Jones industrial aver- 
age rose 81.99 points to close at 
7,742.97. Advancing issues out- 
numbered declineis by a 2-to-l ra- 
tio on ihe New Yoric Stock Ex- 
change. 

Bond prices staged their biggest 
gain in iwo weeks as the yield on the 
benchmark 30-year Treasury bond, 
which moves opposite the price, 
dropped 0.09 percentage point, to 

6.59 percent 

The Standard & Foot's 500- 
stock index rose 1132, to 923.91. 
The Nasdaq Composite Index, 
which contains many technology 
stocks, gained 9.48 to close at 
1.64934. 

Markets cheered a Labor Depart- 
ment report of the first increase of 
the year in producer prices, a mod- 
erate 03 percent in August, pushed 
higher by rising vegetable and gas- 
oline costs. 

The seasonally adjusted increase 
in the Producer Price Index for fin- 
ished goods was both the first and 
worst since December’s 0_5 percent 
rise. The streak was broken primar- 
ily because of a 1.4 percent jump in 
energy prices and a 03 percent rise 
in foods. 

Core prices excluding the vol- 
atile food and energy sectors — 
considered a better measure of un- 
derlying trends than die total index 
— inched just 0.1 percent higher in 
August after a decline of the same 
amount the month before. 

Though traditional economic 
theory assumes that higher growth 
leads* to higher pices, many ana- 
lysts contend that competition, 
rising productivity and a reluctance 
to pay more for goods and services 
means that more spending will not 
lead to inflation this time'around. 


‘If companies have tocut prices 
increase sales, it s a clear sign 


growth is proceeding v nnout in- 
flation.” said Brian Wesbury, chief 


flatten, saw «« »» . 
economist at Griffin, Kubti^, Steph- 
ens and Thompson in Chicago. 
“And I don’t think that’s a tem- 


porary phenomenon. 

News dial inflation remains in 


check is good news for stocks be- 
cause lower interest rates reduce the 
cost of financing business, while 
stimulating demand for goods and 
services. Banks benefit from 
widening profits on their loans 
when interest rates decline, white 
securities houses make more 
money on trading. 


US. STOCKS 


Yen Slides, but Most European Currencies Strengthen 


M Sug Fran PiyukOn 

NEW YORK — The dollar con- 
tinued to advance Friday against the 
yen but was lower against conti- 
nental European currencies as mar- 
kets reacted modestly to data show- 
ing slight growth in U.S. retail sales 
and producer prices. 

In late trading the dollar was at 
121.00 yen. up from 119.575 yen 
Thursday, and at 1.7715 Deutsche 
marks, down from 1.7807 DM. It 


also was at 5.9575 French francs, 
down from 5.9870 francs, and at 
1.4635 Swiss francs, down from 
1.4745 francs. The pound was at 
S1.6075.up from S 1 .5600. 

The U.S. data showed an econ- 
omy growing steadily without over- 
heating, which increased traders' 
confidence that the Federal Open 
Market Committee would leave in- 
terest rates unchanged when it met 
at the end of the month. 


Traders w ere concerned about Ja- 
pan's economic situation after the 
announcement Thursday of a 2.9 
percent plunge in its second-quarter 


FOREIGN EXCHANGE 


gross domestic product. 

The dollar fell sharply against 
European currencies Thursday, with 
much of the drop attributed to state- 
ments bv the Bundesbank's chief 


economist. Otmar Issing. who fore- 
cast higher inflation, a development 
that could set the stage for an in- 
crease in interest rates by the Ger- 
man central bank. 

But a Bundesbank council mem- 
ber. Hans-Juergen Koebnick. said 
Friday that although the Bundes- 
bank was watching inflation 
closely, there was no reason yet to 
change interest rates. 

‘AFP. AFX. Bloomberg l 


“Things still look pretty good. I 
think stocks will get going again,” 
said Michael Driscoll, a block 
trader at Hambrechr & Quist Group 
in New Yoik. “ Investors are still 
buying on die dips." 

When the Dow approaches a de- 
cline of 10 percent, investors often 
step in to buy shares on the as- 
sumption that well-known compa- 
nies such as Merck are not likely to 
disappoint for long. 

Hie Dow industrials are now 
down 6.7 percent from their high oh 
Aug. 6. 

Also on Friday, the Commerce 
Department reported that retail 
sales rose 0.4 percent in August, on 
top of a 0.9 percent July sales in- 
crease that turned out to be larger 
than previously estimated. 

Sales of big-ticket goods, includ- 
ing autos, appliances and furniture, 
rose 0.7 percent during August. Or- 
ders for nondurable goods, ranging 
from groceries to clothing, in- 
creased 0.2 percent. 

Sales at U.S. apparel stores rose 
0.6 percent in August, while sales at 
department stores rose 0.6 percent. 

Auto sales, meanwhile, in- 
creased 0.8 percent in August — 
following a revised 1.8 percent 
jump in July — as automakers used 
big rebates and low loan financing 
rates to lure customers. 

Retailers were mixed on the 
news. Wal-Mart Stores gained, but 
Home Depot fell. Nordstrom shares 
hit a 52-week high on expectations 
that the depanment-store chain's 
sales are beating forecasts. 

Among active issues, Hamisch- 
feger rose on news it will buy back 
up to 10 million of its common 
shares. The company also said it 
was exploring a possible sale of its 
P&H Material Handling unit. 

( Bloomberg . API 


) V 


■«4*M 




AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Friday’s 4 P.M. Close 

The top 300 most cctiw shores 
up to the dosing on WaO Street. 

Press 


sw. Hip u. as o-.jc indexes 


Dow Jones 


Most Actives 
NYSE 


Sept. 12, 1997 


hst irs 2- re Cr_- 


H-Sh L?JT Lrfetf Ojge OpW 


High Low Lulwt digs OpLnl j - 


H»;S uo* L=t*tf Cn?e Cprt 


/rtfas 77C7.C9 775194 760BJB 77/257 *11.19 
Tiew iOiJS 3*7.2] 300538 3019.1 S *11.93 
UTil ZteO? 239.41 7*U4 239.40 +3JCJ 

Caro 245A24 14333 243131 1*7143 +23.16 


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Industrials 1077051059.001070.92 
Tronsp. S6&3S 656.71 66153 

UtfflKes OTT9B W95 20135 

Finance 107.03 104/12 1 05.41 

SP 500 91933 90256 9125? 

SP100 891-55 B7436 88546 


138267 Iff; 
59419 10— 
69217 57>. 

54845 42 J, 

52938 U*m 
S2652 43*. 
STOW 4T- 
45445 36 
49405 11*6 
48698 a 
46938 52V. 
44636 294 . 
37404 Win 
36839 93*. 
36731 53M 


Law LaW 
tRi 69*i 
9 10»t 
ST. 5T> 
411. 43*7 
*41. M*« 
il*l 43*. 
64*. 45*. 
34 '1 MU 
lU* 11»* 
419* 42 

51** B5» 

2t*a 2 04 

57»» 55 

90’»92*» 
51*» 531* 


Grains 

CORN (CBOT) 

5.000 b*j muirom-CMBpr* tushei 
Sep 97 7Ji Zi S-. J64'. T. 

Dec 97 274 : 26J 76J . -8 . 

MarfS 283"-. 272 ! . 2»: -T- 

Mar 98 287“- 7TU 279 • r . 

311*98 290 W. Ml -7- 

Sep9S 277 272 277 J 

Dec 98 275 270’* 270’s -J’: 

Eft. sales NA Thus rotes » 17? 

Tlllrt open ml 302^9& up 3.032 


ORANGE JUICE (TiCTK; 

JiJK tv- cem :n 'C. 

t." m x :ar 

la. i: T i£5 -^50 72JC ‘ 7. V*: 

v-tc* r *K -in :;i: its* 

vci*5 ~:t -iz= ezt 

= 5 1 lsh na ^uLKfsii: 

>.LT rpen rt 1 . p :--i 


10-YEAR FRENCH GOV. BONOS (MATIF) 

f=3oc odc - cx d :oo nd 
5«=7 13=2; 12333 13116 -0J4 33.948 

D3C57 59.1S 52.92 *106 99.965 

VJT9S 55.40 9238 9S43 »O06 

=Jt 9MS: 211.631. 

Opet-Ti.:*! CC9Ct!ZV?A 


Mar 98 94J1S 9401 9404 -082 6-.480 

Jug 98 «44A 9442 94.45 +C07 59.902 

Sep 98 9468 9464 9467 Unch. 41.261 

Dec 98 9479 94 J4 94.77 Unch. 31.07? 

Est wtev 54804 Pm.satev 67.114 
Pmcapmlnt: «4743ofl *429 


Metals 

GOLD (NCM» 

ICC trcyiiL- ;e: ir-t: 
S*s 97 Z 2 .K 

Cc1«- 3^.70 ai. 1 : 32423 

Npv 97 7Z1JC 


a»=. 48 * 

I’** 61 


Nasdaq 


4«348 475JQ 48300 *4J4 

610^4 SWJ7 6I0J9 +7M 

4*7-58 439A0 444.96 *542 

290.13 KM 299.99 *4J7 

*51.73 4*441 451 JH +544 


54 4V» 

U IP* 


H’>. llte 

51V 51>* 

12h 12U 

21ft 2)ft 
45W 44ft 
19 IWi 
9ft 9*4 
216 

3T+ 17 

*ft Ift 
12ft 12 
71ft 13ft 
•ft *» 
47YI, 
251* 23ft 
714 7ft 

2J*» 23 

Sft 


Nasdaq 


mi* law law CM. 
1*494* 1*3398 1*4543 +947 

133542 1324J7 133540 +I1J 
1907J7 17944* 190742 +133 
17*5.12 1 740.90 1743*0 *2165 
2136-94 211158 2136.94 +2171 
104546 1057 JO 10*546 -+*82 


Ouamimi 

kKum 

Amoen 


v* Hfth 

20194* 38. 
10W« 33ft+ 
103652 94+* 
78107 10ft 
752*1 

7215k 72ft 
66931 76 
58731 138ft 
SOW 55 
*8764 5 
48561 »9ft6, 
48453 97ft 
48233 

49076 Oft 
46*97 4W3 


35 35V. 

78ft 30ft 

93ft 94te 
Bft lflft 
2ft 3*r 
707. 77ft, 
70ft 75V* 
115ft 139 

S3 579. 
48*i SMft 
lift Bft 
94ft 96ft 
35V. 36ft 
57ft 60ft 
47ft 48ft 


SOYBEAN MEAL (CBOT) 

100 Ians- dolcn per Ion 
Sep 97 27700 76100 26?50 -1.00 AM2 
Od 97 23180 72SM 2J6 M -U0 23.165 

OK 97 2 17 JO 71IL20 ?r033 -5.W 4*l«9 
Jan 98 312JW 20600 20610 +.50 11.142 
Mof 58 20640 20050 200.90 -160 10T72 
May 58 2000 19«50 19840 +40 4749 

Esi rote* NA Thin rota 10,372 
Tlan open lid I08B9& afl 1487 


SPV97 TZ1X 

D««7 7}7 X TZSCZ 37522 -Li 51 

Fei53 325LT3 32* 40 32740 -O SC I 

Apr 93 r9L0 3S.15 32S.K -IT 

Jim 98 33143 S3 SO 331.50 4T.“ 

Aug ”8 333.00 CJ? 

oci 5s 33390 -era 

EH roi«. SiOOT Thu* rota 6i»i2 
Thu* open ml NleJl up 4303 


ITALIAN GOVERNMENT BOND IL1FFE) 

• TLJX nnScn - pi* of 100 pd 

13544 1CSJ4 109.45 +002 100825 
VCT9S fiT. NT. 109 jS —003 5 

Eil. im 37 All. Prev. sates: 46,393 
Pw.- epen «-• (00930 ofl IJM 


LIBOR 1+90 NTH (CMER) 

SOiaOscn- pis at 100 pd 

Sep 77 9A35 94JJ 9U5 +001 1*169 

Oct 97 0495 94J2 9435 +002 17.9B7 

Na.97 9431 «4J7 9+31 +003 16^58 

Ss: roles NA Unis rota 11536 

The* epen Wt 57.72A. up 6018 


tndustnats 

COTTON 2 (NCTW 
50000 Bj*.- certs P«f fc. 

Od 97 74.10 7230 73.91 +1.36 6.084 

Oec97 74.1b 7240 7391 +I?I JE580 

Mw98 75,10 7365 75.00 *1.1) 13724 

May 98 75.70 74 45 75.70 +1.00 &147 

Jill 99 7*25 75.00 7610 +0.91 5.992 

EsL Sides NA Thu* sates 5351 
Thin open Id 88+1 1 . off 320 


67234 4*636 *7237 +547 


Dow Jones Bond 


20 Bomb 
lQUIHffles 
laindustriab 


I03A9 103.55 

10139 10138 

10608 105.81 


6*21? W, -90 ft** 92ft ♦!+» 

11961 39Ji 37 J»ft +2h 

16475 22ft 20ft 23 ft, +lft 

1 4990 »ft Eft Bft +6, 

10739 Jft 3*. 3ft -ft 

9543 6ft 6ft 6ft tft 

9442 ft l *• . 

937* 7ft 6A. 6ft tft 

B» Eft 7». Il> .6. 


SOYBEAN OIL (CBOT) 

60000 Sis. cents pee 10 

Sap 97 Z26A 2233 2L50 -0 07 1J2J 

Od 97 7277 TUX 7L58 4108 lABll 

Dee 97 73.13 2173 22J99 0.1 1 40385 

Jan 98 2333 2294 23 08 4214 12+67 

M0f« 2340 2323 2138 +X12 7.997 

May 98 2360 2322 73-54 -0.11 1411 

EsL rota N A Thus rotes 12J71 
Them opan W 87.21 6. off 655 


HI GRADE COPPER iNCMXJ 
21000104.. .snts per lb 
Sep” 94 75 9320 9400 +030 
00 97 95.15 9400 94+3 -020 

No* 97 9520 9470 95 20 -030 

Dec 97 95.95 9400 05.40 -0.4S 

Jan 98 9560 9500 95+0 - 0-40 

Feb 58 95.70 9500 95.70 +050 

Mar 98 9600 9450 5580 -140 

Apr 98 9*00 9500 9580 *0+0 

EsL rotes 11.000 Thvr sates 75999 
Thin Open H 52.017. up 6.173 


9543 6ft 
9442 9. 

9371 7ft 
1559 8ft 


24* 24ft 
2ft 2 
ISft 14*ft 

Wft 19ft 
I ft lit 

Sft 

7ft 4ft 

lift lift 


Mammon 1577 49ft 48ft 


Trading Activity 


SOYBEANS (CBOT) 

5000 bu uMnum- cenb per bushel 
S*p 97 727 718 722 *16 1776 

NO* 97 646'? 630* 631'., -12 9O0S2 

Jan ta 648ft 633 633'. -12ft 2L610 

MOr 98 655 639 639ft -lift 9,100 

May 9B 660 645ft 645ft -13 7.266 

EsI srtesNA Thus rotes 25+98 
Thirs open W 1C-561. off 764 


Nasdaq 


25ft 25 

lft 1ft 


12ft lift 

2 1*. 


AOwncea 
Oeeanea 
urwenged 
Total roues 
HewHtehs 
New Laws 


2094 1100 Advanced 
791 1773 Detuned 


496 519 Uncharged 

3381 3391 ToloJ Ssuffl 


New Letts 

NHorfcaY Sales 


169* 1956 

1*05 217* 

707* 1600 

5377 5734 

164 255 

31 35 


WHEAT (CBOT) 

5 DOG bu mmanum- rente per bushel 

Sep 97 364 357 358ft -5ft 612 

Dee 97 380ft 371 374ft -3ft *5339 

Mar 98 392 384ft 388ft -2ft 21346 

May 58 394 388 391 ft -1ft 4315 

EsL rota NA Thin roles 14030 

Thus open ert 104574 off 384 


SILVER (NCMX) 

5000 (rpy m . cenls pet titrv a; 

Sep 97 47300 470.00 472.00 -1.00 

Od97 47320 -1 00 

Nov 97 476.60 -I 00 

Doc 67 481 JO 47250 47750 +1.00 

Jon 68 47900 47900 479 00 -100 

Men 68 488 00 480.00 48430 ,1.00 

May 98 491.00 488-30 48830 -100 

J J 68 472.40 , 1 00 

Esi. sales 17.000 Thus sales 1*5)1 
Thus Open im 77.475. up 238 


EURODOLLARS (CMER) 

Si mOliWKJb oJ 100 pd. 

Sep 67 *L38 642* 94J8 +001 +I9+7D 

OeJ97 9422 64.1 8 9421 +003 14407 

Dec 97 9112 940* 9411 +0.04 555.993 

Mar 68 94 QJ 93.65 6403 -Oitt 37B883 

Jun«S 9163 73.92 9362 +009 260450 

Sep98 63A4 9223 9382 +0 09 228.262 

Deeds 63J1 9161 "370 ,009 195.736 

Mar 69 9166 9158 6X68 +006 134625 

JU196 6365 6354 9X64 +0.10 101908 

Sep 99 «160 "350 91*0 +<U0 90835 

Dec66 9X53 93 43 9X53 +0.10 7&039 

Alar 00 6X53 9143 9X53 *0.10 66J25 

Esi sates NA Thus sdos 369.155 
Thus Open IM 2.904845. up 4563 


HEATING OIL (NMER) 

<4000 gal. cents per gal 
Od97 52.95 S2J0 5258 -05J 4X678 

N<w67 54 15 53 55 53 68 +0 43 26.860 

Dec67 5X20 5470 5X08 ,036 JX9P1 
JOT68 5e DO 5555 S5S8 *0 33 21.7*0 

F6b08 5435 5565 $6 23 +0.28 1X660 

Mar 98 56.10 S5.7D 55.88 +0Z3 0417 

AprflS 54.60 5470 54 78 -0.13 4379 

Esi. sates N A Thus rota 4X488 
Thus open bit 1S5a87. off 332 


BRITISH POUND (CMER) 

>>ZSO0 pounds. S per pound 

Sep 97 1.6104 1.5980 18058+0.0048 27.734 

Dec 97 1 6040 1-S890 18998+0.0048 27853 

Mar 98 18960 1JB90 1^44,000*6 222 

EW. roles NA Thus roles 717+508 

Thus open Ini 5X834 up «9o 


UGHT SWEET CRUDE (NMER) 

14)00 bH- dollars per bbL 
Oct 97 16+7 J9i7 19J? 4L05 BCU34 

No* 97 19/4) 16J2 I6+0 h).03 6X097 

Doc 67 19.67 1630 1683 45.03 5X804 

Jon 68 19*9 1953 1938 4)03 34.140 

l^-S* 4)03 15815 

Mar 98 16+9 16+1 1961 *X03 9+10 

EsL sates 1 Thus sates 104907 
Thus open Ini -IV3.MZ aft 6,652 


MMnc?l 
Deemed 
Unchanged 
TW* issues 
New Highs 
New Lows 


349 770 
707 239 
182 175 
729 734 


289 NYSE 
i£5 A mex 
^ Nasdaq 
9 In ir uffl o nx 


54732 68338 
3231 4034 
636.96 708X4 


2', 2ft 
un lift 


Dividends 

Company 


Livestock 

CATTLE (CMER) 

404)00 lbs- cents per fe. 

Od 97 *640 *912 *9 42 *0 l22 

Dec 97 7020 *990 7X15 +0.22 

Feb 68 7257 72X5 7X50 +0.02 

JW168 7132 7U2 71 45 4>J» 

Aug 99 7130 70.90 71.05 +015 

Od 68 73 75 7X75 7175 unch. 

EU sales 11.14* Thus sales 1X300 
Thus open lea 94,730. up 724 


PLATINUM (NMER) 

50 im a - doOars pec buy isl 
DO 67 431 50 43430 4?7 .*0 4) 70 

ta(69 420 00 41X50 41*70 -1.70 

APT *8 40*70 -170 

Ji4«9 J05 70 -1 70 

Esi rotes NA Thus rota XI 15 
Thus open mi 141 55. up 53 


Close 

LONDON METALS (LME) 
DaRns per metric ten 
J lteu a mmi (Nigh Crude; 


Spot 161130 161200 leOB'j 
Foraatd 1*21 00 1*7200 1*2200 


CANADIAN DOLLAR (CMER) 

I00JXN donors. S per Cdn. dir 

Sep 67 7160 .7170 -7)78-00006 2X595 

Dec 97 7239 .7310 .7715-0 D004 42353 

Mar 98 .73*3 .7240 .7X69 4)000* MJ7B 

Esi. sales N A THUS roles 30831 

Thin open int 6*31 7. up 4779 

GERMAN MARK (CMER) 

125.000 mows, i per mow 

Sep97 3*56 3586 3*50+0003* 60325 

Mar 63 3720 3*64 3718+04X13* 1346 

Esi. ulus NA. Thus sales *4321 
Thus open mi UXOQAoff A545 


NATURAL GAS (NMER) 

1M00 mm blus. s per mm bhi 

1750 2-795 +0026 
Nov 67 29*0 2.860 2.930 +0 j022 

Dec?7 3.040 2.685 1020 +OJ123 

Jta6$ 1020 2970 3000 +0021 

Feb 98 1740 2.706 2.725 +002S 

Mai 98 2.445 2420 2+35 +0005 

Esi. sales NA Thus sate 51792 
Thus Open tit 23^642 up 6.001 


UNLEADED GASOLINE (NMER) 


Copper Cathodes (High Grod (I 

3070ft 2072ft 3080 JX) 

Forward 209*00 209700 2101.00 
Lead 

Spol 626 00 *30 00 *34', 


Per Amt Rec Pay 
IRREGULAR 


ft 

iz’x m* 

iilu 13% 

14ft lift 


r t* 


Banco Gonad era C 
GrealWtflElec 
Kanetr 5k odlpf A 
Motsush E! ADR 
Mitsui & Co 
Phil Lg Ottcmee 


b .3857 9-26 — 

b .95 9-18 — 

- S3 9-22 5L30 
b 3125 9 29 - 

b 3667 9-29 - 

b .0387 9-19 10-15 


n lfi 

lift lift 


STOCK SPLIT 

AppfctS Materials 2 for 1 Split. 
Dassault Syw 2 tar 1 spfit. 


Sil 34ft 
4J^ 43 


Sift SI, 

lift Iflv 


'i+i ir-w 
73ft 274 
in 6ft 


INCREASED 

EXELLM O .40 9-25 10-9 

Fedi Rlty imi Q ^43 9-25 10-15 

Fwlls 5«U7 M M3 9-25 1G-15 

imerwest Bncp O .16 9-22 10-10 


Fluke Coign 


INITIAL 

- 3875 10-24 11-14 


Acad an Bncshrt 
Birraingliom U18 
ConWesf Global g 
Enhance Rnd 
FstCommnwflh 
FtrslMAF, 

First Union RE, 
FlsharScfcnttfh: 
LSBBncshre NC 
MaraemRas 
NCE Penofund 
Oil gear Co 
Pep Boys 
Prospect Si HI In 
PulteCorp 
Ram Firrnfhjre 
myal BftCOog 
Shared MeflJcoJ 
Sloroge USA. 
Unicom Corp 
UnWICoip 
Wesko Bncp 


Per Amt Rec Pay 
REGULAR 

6 O .09 9-30 10-15 

[ Q .15 9-23 9-30 

0 S .125 9-30 10-15 

0 .11 9-22 9.26 

M .0825 9-30 10-10 

Q 21 9-22 9-30 

a .11 9-30 10-30 

0 .02 10-1 10-15 

: o .n io-i lais 

a .15 9-30 10-23 

M M 9-17 9-30 

O .10 9-30 10-10 

0 -0610-13 10-27 

1 . M JOS 9-23 9-30 

0- 415 12-12 1-1 

Q .025 9-19 1 0-10 

0 39 10-77 tl-24 

0 21 9-30 10-15 

0 A0 9-26 10-14 

Q AO 9-30 11-1 

a Z3S1D-31 11-14 
a .15 9-30 10-14 


FEEDER CATTLE (CMER) 

50000 lbs.- cents per lb. 

Sep 97 8080 8032 8052 *0.10 

Od 97 8147 80.17 91 35 r085 

Nov 97 8305 81X5 81 05 +050 

Jim 98 8X65 3205 81)0 +0+2 

Mar 69 8150 81.75 81 43 +CL33 

Apr 98 8145 *1 90 B2J5 +0.72 

EsL sates 4,741 Thus rotes 1255 
Thus openin' IA56* off 407 


6J60G *30 00 *34ft 
64000 641.00 64500 


Sool *445.00 645AO0 *535 00 
Forward 654000 *54500 6*30.00 
Til 

Spol 5435 00 44*5 00 541X00 
Foruart 548500 S«5Afl 5456 00 
Zinc ISpvdal Hi«h Grade) 

Spol 1586.00 159400 l*W.OO 
Fonwnl 136700 136900 143900 


JAPANESE YEN (CMER) 

1X5 miTian vea S per 100 yen 

Sep 67 JQ35 £230 8271 4)0063 5X013 

Dec 67 .8475 .8325 £378 -0PW4 *4321 

Mor68 £461 8450 8*61 41.006* “ws 

Esi. rota NA Thus ud»3|.004 

Thin open ml 113.18a up 1.235 


On 67 

56^0 

P* 1 !P« 

S7.80 

58.77 

•0.01 

35.890 

Nov 97 

57jQ5 

56 JM 

56lS8 

4X17 

23.138 

Dec 97 

SoM 

5550 

55.68 

-o.ro 

15.723 

Jon 98 

SA,0 

5540 

55 66 

■001 

1X494 

Feb 68 

5650 

56.30 

SAJ6 

-0.01 

1739 

M»N 

57.10 

56.96 

56.69 

■0.01 

1133 


59.60 

396" 

99*9 

-aai 

1055 

May 69 



5939 

■aoi 

1.010 


Esi. sales N A Thus sate 3X462 
Thus open W 103,931 up 1.775 


SWISS FRANC (CMER) 

125400 bones S per hone 
Sep 97 -61)43 67H3 A842 +0j00S8 7 1 *5 17 
D»C 67 *017 .4839 *915 +00058 3X789 

Mar 98 ten Atir avsJSoOM lTl57 

Efl. sales NA Thus V*e* juji* 

Thus open ini 5ai0?. c*f 1.0*5 


GASOIL (IPE) 

U S. ddlars per moMc Ion - late ot 100 Ions 
Oct 97 1*425 163L2S 10X50 —0.75 29,06* 

Nor 67 166X5 16125 1*525 -4175 11535 

Doe 97 168.00 167 J25 1*725 -<175 17M| 

Jon 68 169.75 166.00 1*92)0 -0 75 M.I5I 

Feb 68 171) 170,00 170 AO —a 75 U002 

Mar 98 17000 17000 1*625 —1.00 4840 

Apr 68 N.T. NT 1A25 —1.00 J37T 

EsL rota: 7340 Pm. rate ■ 28.657 
Pier. Open W4 91577 011 X152 


Hitfi Lo» dose Chge 


HOGVLeaa (CMER) 

40000 fex- cents park. 

Od67 n.17 7030 70JS +070 

Dec 97 67.55 *480 *7.17 ,037 

Fed 98 6585 65 22 6177 +062 

Apr 98 62AS *205 6X50 +055 

Jun98 6730 67.00 6735 +0/7 

EsL rotes 7J25 Thus rotes 9.170 
Thus open tnr 1X115. ur> 135 


SI mUlon ptsof IOOp+1 

Dec 97 6461 94.8$ Ki6 *0JJ4 i m 

Mar68 9488 9483 94J» ,008 iS 

Jun9fl *4 73 

f*L «ta N A Thus so UK 208 

Thus open Ini *.578 on 877 


MEXICAN PESO (CMER) 

500000 pesos. S per peso 

152 '29*5+JJ0227 11991 
T5? 7 U372+J»248 21^41 
Mar 6fl .11*22 M8»7 II9JO+J10262 4158 
Esi rote NA Thus rota 1X441 
Thus open Ini 4X854 up 1*8 


REDUCED 

FstAusfrl Prmlnc M .06 9-30 10-10 


o^omnAi b-appmmiifo MMt pet 
sbaVADfeg-iwrobte ta CeoaMaa taod^ 
RHnenMio Q-uuutuiTj; MmMmaool 


lift* lift 
6ft I* 
Dll 2S C '. 

n 34 

*1 76ft 
IA. I-,-, 
4ft *H 
7* ft. 
10V. 1B<* 
Sft lift 
4ft 

11ft. lift 
3ft 32* 


PORK BELLIES (CMER) 

4BJH0Rn.- cenls per «l 
F eb 98 68.17 6645 67.85 +1.55 

Mar 98 67.8! 6465 67.67 ‘140 

May *8 4&4) 66.90 6 750 +l*i 

EsL sates X630 Thus ides 1.784 
Thus open WAJ94 up 190 


s YR TREASURY (CBOT) 

* ,0 ®**> P""- P's & *«hs Ol 100 pd 

*2?-®° 10618 107-00 + 25 41.221 

Dcc97 106-44 106-13 106-42 ♦ 7* 201.979 

Esi sales N A Thirs rote 83 147 
Tnm Spun un I*X20b oh 1.*M 


33V. 32ft. 

1ft 4ft 


v. ft 
im I-* 


m ij*« 

.»-■ -IV* 


Ji*. n*-. 

tt, 

17‘. t», 
II I 14 . 


Stock Tables Explained 

Seta Sgixts are urwffidd. Yemty anti lows refled the previous 52 weeks plus the airorit 
week- but ndihekitasnRidng day. Whereassa or dadicDAtendomounteig lo 25 panxml or mare 
has boen pala ihe years N^i-hiw range and Aridend ore shewn tar Ihe new stocks antf. Udesa 
odiemfae acted, role* at dMdsub are aimed tfisbursenenb used on 8» loted dedoraflon, 
a - dividend also extra (s). b - annual rate of dMdend plus stock dMdcnd. c • IKpildaling 
dividend. «■ PE axceeds ».c*J - coited. d- new teorfy low. dd- loss in the tost (2 months, 
e ■ dividend declared or paid in preceding 12 months, f - annual rate. Increased on Iasi 
declaration, g - dMdend In Canadian funds, subject to 156(. non-rasidenee las. I - dividend 
dednrad after spiB-up or stock dividend. 1 - dividend paid this year, omitted, det erred, or no 
oaion taken at latest dMdend meeting, k - dMdend dedarod or paid this tear, an 
occunwfoflve issue wW) dividends in arrears, nt - annual rate, reduced on last dKtaraRon. 
n - new Issue In the post 52 weeks. The high-tow range begins with the start of trading, 
nd - next da? dedvery. p - Initial dividend, annual rate unknown. P/E - price-earnings ratio, 
q - daoed-ena mutual fund, r . dMdend declared or paU bi preceding 12 months, plus stock 
dMdend. s > stock split. Dividend begins with date ot spit sis - sates, t- dMdend paid in 
stock In preceding 1 2 months, estimated cosh value on ex-dMdcnd or ex-rfisMbyfton dole, 
u - new ycorty wgn. v - trading halted, vl - in bankruptcy orniwtvership or being rcorgnrtiod 
under the Bankruptcy Act arsecurilies assumed by such companies, anf, when distributed, 
wl - whori issued/ ww • wtm warrants, i • ex-dtewend or ex-rights, sdh - ex-dSMbutlon. 
nr ■ without warrants, f- R-dMdend end solos in fuff, ytd - yield. Z - sales In KrfL 


COCOA (NCSE) 


10 metric ton*- 1 per Ian 




Sep 97 

1631 

1A24 

1624 

+ 19 

61 

Dec 67 

1647 

1017 

1640 

-14 

44686 

Morn 

1681 

1648 

1674 

+ 17 

36J9S 

May 98 

1696 

1675 

1604 

+ 18 

1X071 


10 VR TREASURY (CfiOT) 

S'CaOPO pm. 01*632^0, KB pci 
JjPjJ IW - I< 108-7* 106.13 » 10 JB.108 

Dec 97 109-84 108-TJ ifts-03 . |0 ii7«h 
M o,98 108.J2 10817 )»S + jo 


3-MONTH STERLING (UFFE) 
£500800 - pte d/I 00 pd 
5oP 97 9X73 61/1 9X72 

Dec 67 9X67 67*4 6XM 

Mar. 69 9Xa5 «Ia2 9Xo 5 
JunVfl 9X60 9265 62.08 
Sep 98 9173 92.71 9273 

Dec 98 9181 6X78 9181 

More? 9189 9X86 9X88 
Esi fata: S6.6B*. Prev.rota. 4 
Prnr open ml ■ *88-4*5 up 11. 


BRENT OIL (IPE1 

'W'wspwhwet - lots ol umo barrels 

22^7 S rero 

J?’ 4 ' I *>30 1BJ7 a?. 7?? 

18 45 18 4? — 006 19 251 

FJWW *60 18-42 18 49 7© 

Mar 98 1852 1844 1845 -0.01 im 

&*. rota 39.160 Prev. rota . 55,577 
Prrv. open bn. 1M498 off 1853 


+001 101.53* 
+0J)2 13X438 
+002 110050 
♦003 7XB76 
*003 6TJ06 
♦0O3 54522 
♦003 4 9,588 


Est. roles 1 1.998 Thus son 9,933 
Thus open hr WAi off 318 


COFFEE CmCSE) 

37,500 lbs., cenls per to. 

S*P «7 207 JO 188X5 188.25 -19.25 441 

Doc 97 1B8-25 17X00 172J5 -15A5 15,103 

Mar 98 171 Jto 15725 157.40 -11» 4«l! 

May 68 16450 IS) 00 151.00 -13.00 1,059 

Jul 98 15750 14450 14*50 -1X00 1,366 

EsL iota 1X166 Thus rota &682 
Thus open ini 2*031. up 986 


SUGAR WORLD 11 (NCSE1 

1 1 XOOO tos.- cenls per It 

00 97 1155 11.48 11.47 -007 *7.634 

Mot 98 12 15 1X07 1109 -OtO S&971 

May 98 1209 1103 1105 4L03 IWQ5 

Esi. s«4n 20.382 Thus rota 3X111 

Thirl apM M 201011 Up 5,8*4 


Esi. rotes NA Thus rota 87j*3 
Tluri open ml 387, 1 ’l. up 1953 

U6 TREASURY BONDS (CBOT) 

? P'?.*'® 1,0 *'-uts X 37 nos of 100 pci; 

Sep 97 113-22 112-15 113 16 .107 i aM 

DPC97 11X10 1 12-00 11347 ,T02 «£ot 

Mor« II2-X 111*29 112-28 .102 

J,mW 117-16 .102 zs*S 

EM sates N A Thin wte 37&*u 
Hurt open Ini 56&68X un iiaio 

LONG GILT (UFFE) 
rSQOOO - pis A JTIVfs ai 100 ad 
SepW IIS-01 115-23 115 30 -(Ml ton, 
DOC 97 115-24 1 15413 115-14 .0-12 lung 
Eil Mta 81640. Prev rota- 39,143 
Pirv open Irt 14*13$ up 1700 

BARMAN GOV. BUND (UFFEI 
Qw3«ioao pi, a 1 too pa 
2*— 101 “ 101 ^8 101.74 1 0.17 257.265 
Mar98 NT. NT. 10005 . n m gpj 

Efl.Wta 131.975 Pr*. rota. 136.41a 
Frev oponim. 75a.no off uib 


3-M0NTH EURO MARK (UFFE) 
DMImUDon-pteof impd 
Sep 97 96.72 96 71 6(,72 Unch. 18X620 

009/ 96.64 9*43 6fc*3 — 0J)1 Ha 

NW97 NT. NT 0eJ7 -OOl JQ0 

Dee 97 6453 «*« 9450 —am 701 »□. 

Jhm68 6*1* o*job 9411 —0.02 219478 

Sep 68 95.95 65 W ,$.61 -001 150 SIS 

oc 63 ,it6 ~° m ISv’obo 
Mor99 955J 95.44 95u47 — OjOI 135^31 

Esi sales. 18*23* p m «*>s: 230583 
PrCT.OpHiW- 1.665,93* up «J25^ 


Stock Indexes 

SP COMP INDEX (CMER) jT, 

f°o«imteic Sp 

Si- 80 9W - S0 n U3 +17.65 104010 • 

U S fl IS.OO 935.75 +17J0 IJO+g. 

Mar 9B 946.00 «29J0 946.00 +17.90 2356 
E*i. rota NA Thu* roles 141-422 
Thus open im 72X387, up *353 


FTS 6 190 (UFFE) 

C5 per Imioi point 

1255° «8>30 483 M) - tM 48.774 
48605 -195 31986 
Mor98 N.T N.T 463*0 -190 1.810 
Est rotes: 21.351 ftn.idK 31^00 

nev.apanlnl.- 8 l.si 0 up 1.202 


2-MONTH PI BOH (MATIF) 

FFSnriBlan -plsar Iqo m 

Sep 97 9*61 6*59 91*} 

DeC 97 6650 964* aTjj 

Mar 68 66 35 6* 30 <£31 

Jun98 66.17 9*u ojfi 
Sep 98 95.96 95 64 9564 

Dec 68 65 l78 05.74 9575 

Mar 69 95.61 ?S SB 65 57 

EM Mte:SZ.263 
Open (nt- 255.762 up S163 


0.0t tlno 
2-01 50.347 
0J1 3*061 
0J7 2XIB4 
A03 21646 
-902 26,127 
0-02 26.7*8 


CAC 40 (MATIF) 

FFXoOpwindwpolM 

555 533.0 2B35A - 11 0 4X742 

u ’i. 3*35 0 3163J 2B415 - |l.o i+tv 

Jta»67 28*5.0 28*4.0 28490 — 110 X099 

Ok 97 293*0 28*8.0 285*5 — 1 1 a *430 

EsL rota; 36.18 a. 

Open krt_ 7X636 up im 


' mvi 


Commodity indexes 


as - S3 % ,ss B 


cuV™" 5 


Previous 

1.5S9J0 ,.570 20 

ISB 'Us 

241.69 SS 




V 



g 



E, ^ 1997 


PAGE 3 




°Wi, 


■: ..;#■$ 


Ilallye Tries to Block 
Promodes on Casino 


cATTrurUY-SUNDAy, SEPTEMBER 13-14, 1997 

INTERNATIO NAL HERALD TRIBUNE, SATUHDA y-suw«. 

EUROPE 

Banca di Roma Cleans House 


i Investor’s Europe 


PAGE 13 . 


* 44iP1 : 'IfcW -®***^^ 1 


VAIAMU.VO Vll —.wsdiMrf bv Benito year. 8 percent in 1999 and 10 

c«qMb.a v jtfn H oq>«ta company jigpos- percent m2000. 

ROME — Banca di Roma SpA Mussohm . ^ >^nk by The company also said it 

less competitive m the long tern. reported a surprise first-half loss ai mg of w g* of new stock planned to save 60 billion lire 

PARIS — Rallye SA made a bid “There are synergies with Pro- its main banking unit Friday as the selli ng A -*“rr .. Tmly plans through early retirements of per- 
Friday for Casino Guichard-Per- modes and Casino and those won't government prepared for the sale and converaoie^^^ years, sonnel in 1997 and 300 billion lire 

rachon SA to keep control of be achieved if they aren’t pul to- of its 36.5 percent stake in Italy s to ^pnaateuu ^ interests in a year starting in 1998. • 

France's No. 3 supermarket oper- gether,” said Simon Raggett, ana- second-largest commercial bank, industry, the govern- The bank’s shares fell 2.4 per- 


a mj J A S 


» lauu, » nu. J uua- “““““ ““ 6 S 1 ' 11 ' sc«mu-iuigc»i lwiuiiwviim . <. nnHinteirV the gOVcTn- 1 DC oaniC S SQEues ICU pw- 

ator in the face of a hostile $4.6 lyst at Williams de Broe in London. The company said its flagship baniong ana mu j. ^ a cent to close at 1350 lire, 
billion bid from Promodes SA. “It would just go back to being the bank lost 2.79 trillion lire ($1 .6 ment is top 8 - European eco- (Bloomberg, Reuters) 

Rallye, which owns a 33.2 per- same company it was before.” billion) in the first six months of key regniremcniiu^ ntli Xn At the _ T , „ 

cent stake in Casino, made the com- Promoaessaid it found the Rallye 1997 as it slashed the value of nomic and d^jts of 3.6 ■ Telecom Italia s Net Rises 

plex offer, involving payments in offer confusing and said it was not assets and problem loans on its eto °* J)* 116 - Telecom Italia SpA, Italy’s 

convertible bonds and cash and clear that it was better than what books. The loss reversed a profit of trillion Friday Pietro state-owned telephone company, 

"certificates,” after its shares and they have put on the table. “We’re 70.8 billion lire a year earlier. ^f^SrectorttflRLsaid said its first-half profit rose 23.6 

those of Casino were suspended in still trying to understand it,” said Banca di Roma reported the loss i-meci , v planned percent, to 1.83 trillion lire. 

Paris on Friday. Hugues de Vaulx. spokesman for just hours after its board endorsed debt and bolstered by international call 

The counteroffer comes a week Promodes. "We had a clear, in- a capital increase of between 2.4 to iiman me ^ defin- traffic and new data-transmission 

after Proraodes made its bid for both dus trial offer as opposed to just a trillion lire and 3.4 trillion lire, tee w raiva^c c j ., services, Bloomberg Business 

Rallye and Casino in an effort to purely financial one. ” sale of a stake to strategic investors mveiy ctosean __ __ ^ ^ News reported from Milan, 

become tee biggest supermarket op- "We need time to study what and tee sale of tee state s stake to „ f^^^A^eroporti di ‘ ‘Today’s results, which show a 
erator in France. Rallye is offering." he added- private investors. is planning to healthy profit, make it easier for 

The offers come as tee Guichard "We’ 11 have to look at it. It’s not “They ve finally b^un to do kmul year group tee government to sell tee com- 

familv. founders of Casino who own clear it is btter.” some cleaning, said Etamella jj„afie+rv nneraior. oanv.” said Alberto Rolla, tele- 


■ - -» 'p c . • rt, r «* — ^ * ny 


itTTitOR 


Rallye anri Casino in an effort to purely financial one.” 

S become tee biggest supermarket op- "We need time to study what 
‘ j erator in France. Rallye is offering," he added. 

The offers come as tee Guichard "We’ll have to look at it. It’s not 
family, founders of Casino who own clear it is btter.” 

7.8 percent of the company’s stock Promodes’s unsolicited offer, if 
and have 16 percent of tee voting successful, would make the corn- 
rights, are prepa ring to meet to dis- pany the largest French retailer, 
cuss tee Promodes offer of 340 ahead of Leclerc SA and Canefour 
francs ($56.75) a share for Casino SA. The bid, tee biggest ever in 
and 420 francs ($70. 1 5) for Rallye. French retail industry, follows other 
Promodes reiterated Friday tha t it mergers after a law passed last year 
would not raise its bid for Casino. to protect small shopkeepers put a 
Anal ysts have said Jean- Charles break on the construction of giant 
Naouri, president of tee supervisory stores in France, 
board of Casin o whose investment Casino shares fell 2 francs Thurs- 
rom pnn y controls 75 percent of day, to 332 francs. Rallye shares 
Rallye, does not want to lose control closed 2. 1 percent higher Thursday, 
of the company. They said a Rallye- at 359 francs. Promodes shares fell 2 
Casino linkup would leave Casino an percent Friday, to 2,076 francs, 
independent group, though perhaps (Bloomberg. Reuters) 


338^ nr** r , 








some cleaning,” said Dameua nanv ” said Alberto Rolla, tele- 

MiccoUs, a bank analyst at Caboto Autosn^e^dma^^^^ communications analyst at Pasfin 
SIM. who added, "While this is a Ban« teRoma^W ^ The Italian gov- 

posiDve signal, it sull may not sof- com- erament has said it will sell its 45 

* ■ , o teXTwoald lift its stake in Telecom Italia to pnvale 

d«S“^A 6 percent na. investor by October. 




'."■■"kl'T / 'T ; ' • . . 

^n4i 

:VCSli*TV: 
‘•atT <*?>*'■• r. ;~' 

i 

( m-< ’ I 


iStTo^6p^n.oc. investors by October. | Very briefly; 

« feii 2 fraocs Thurs- Telekom Bristles at Ruling by Bonn 

[panes. Rallye shares C7 ^ 326 mi „- nn ($162.5 million), as operating profit 

cent higher Thursday, __ _ T ^ c -_ tp<nT , a n said the access to its network, tee only one gained 15 percent, to 535 million guilders. 

^S20?6taS fe " 2 BONT"’Tte^^dTeIe- S MekoS^SdfS^ me tat ooverc fie «holecom.By, to fill ^ omme ^ bank AG’splatmedsaleof 30mi^nn«,s^ 

U to *-iU7o francs. BONN — i ne rost ana i eie _ nf-nnia a minute, gaps m then own systems. on . a defensive move to repel a takeover attempt, Martin . 

(Bloomberg, Reuters) commum^nom iMi^y said Fn- ftice has been tee mainstickmg the bank’s chie^aecntive. said. 


rcssrAS 7 ; ssse 

competitors would pay an average of ‘ ‘The decision a>^titors since talks on net- • France’s inflation rate jump^ n^e tean^^emi^Au- - 

2.7 pfennig <1.5 U.S. cents) a minute warps nqMHn began nearly a year gust, with consumer prices up 0.3 percent from July and U , 

for access to Telekom’s network, a our current costs, MrBm^Mia. ComnaniS such as Marines- percent from a year earlier. 

rate analysts said would raise rivals’ * It doesn t take cot^deraaon ag. A ^^ aye ^mpiained teat, # Martin Ebner said his investment funds would exchange ■ 
chances of grabbing market share the improvements to T h an four months remain- {jieir 25 pereent stake in Winterthur Insurance Co. for 

when Germany’s telecommtmica- " I J^SdM5 tegblSeSLcet opensthey SSdfsiSS shares whenteebank’s lUWta. 
uons market opens in 1998. billion m^ks we ^aia to oun F not planning and in- ( « 7 billion) offer for tee insurer begins Monday. 

Deutsche Telekom, in him, srnd it shares fell 7.7 vestment decisions because they did * ^ c Britain’s largest life insurer said it- 

would not agree l ° t0 close at 34 20 DM. not know what their costs would - d leofoanjzc'lts British operations. As a result, James 

oetworic ^accessTat below co^. Hans ^ of Telekom’s competitors need be. (Bloomberg, Reuters) Sutcliffe> chie f executive of UJC. operations. 1 


_ 2.7 pfennig ( 1 .3 U.S. cents; a minute w my* 

U.S. Denies Eizenstat Put SBHr.r'Sa' S 

Pressure on EU for Airlines SSife— S 

Deutsche Telekom, in turn, said it Eastern Germany. . “J 

Reuters mission forapproval and expressed would not agree to rates that sub- ‘ no t 

BRUSSELS — The U.S. Mis- concern that some might have anti- sidized its nvals by giving than y^om's conmetitore need be. 

sion to tee European Union competitive effects, it said. network access at below cost Hans Allot lelek compeoro 

sought Friday to clarify com- ■ BA Fay Dispute Ended — — 

ments by a senior U.S. official 1 r 

about the planned alliance be- British Airways and us largest C* 11 /1/Y* C Th, 

SSIS^tafh^d Russia Delays bell- Off oj tSi 

been misinterpreted. pay, averting further strikes after a ^ 

Stuart Eizenstat, U.S. under costly three-day jjralkout ^ two France-Presse chairman, Maxim Boiko, who is in fai 

secretary of state, did not ask months ago. Ne ' MOSCOW — Russian authorit- charge of privatizations, told the In- tw 

Karel Van Miert, tee European ported from London. MUbLUW Russian t-rfax news anenev teal the pnvat- ha 

competition commissioner, “to Shares in Europe’s Jargestair- S^.j^SRosnefTone of the P conn- ization of Rosneft conld go ahead 

approve the BA/AA alliance, nor line rose 10 pence to £6.7675 in ization of Rosn ft, o ot . t . earlier than the fourth quarter of Be 


Russia Delays Sell- Off of Big Oil Firm I Siemens’s Sale Plan Advances 


Bloomberg Neves 


he express a hope it would be London. 


express 

A I tL, miccinn insisted BA said mat me union nau at- i wouiu uc ucioyvM — . — -- n r n#lTt vft o r ” decision on me owuQsmp %n 

i- cepted f42 miUion (S67 million) might not take place before next l^t nrffs main production unit. 

i ... ’ - r. . .t Ante I VMT. . - . -1 PnnV>fl^Ofl7 


03O a UUUV All V* v» . , . 

the mission insisted. BA said teat the union had ac- w, 


A gntattai chairman, Muxim Boiko, wboisin ^I^taaSSwlSh’vSto MUNICH - Siemens AGsaid ‘^? d ti 5° s “ £ '■ 

MOSCOW Russian authorit- charge of privatizations, told the In- two stages, the first olwtecn Thomson-CSF of France and the combined team of 

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INTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY, SEPTEMBER 13-U, 1997 


ASIA/PACIFIC 



P\1 tt/'ii*’ * - ■ ■ _ "Hie 4 

y.'r-j — ma ° nettca tiy levitated train undergoing 
tests frriday on an 18-kilometer (11 -mile) track between Ot- 
suki and Tsuru in central Japan. It reached a speed of 421 kph. 


CSR Casts a Wide Net 
For Chief’s Successor 


• tVrYfjrf rnm Putin, &*i 

S\ DNEY — Tbe industrial and 
commodities giant CSR Ltd. said 
Friday it was looking abroad for a 
new managing director after the sur- 
prise resignation of Geoff Kells. 

In the past 18 months. Mr. Kells. 
53. had come under pressure from 
inside and outside CSR over its poor 
profit performance and amid ques- 
tions about its strategic direction. 

Mr. Kells had been managing di- 
rector since 1993 and a board mem- 
ber since 1990. He presided over 
wild swings in earnings, from a 
1995 profit of 391 million Australi- 
an dollars ($282 million}, when the 
Australian housing market experi- 
enced a boom, to its latest disap- 
pointing result of a 36 percent slump 
in net profit to 212.2 million dollars 
in the year ended March 31. 

Confirming rumors that he had 
dashed with at least one director, 
Mr. Kells said he did not have the 
full support of the board. 

"I found this unacceptable to 
me." he said. 

Ian Burgess. CSR’s chairman, 
said that although there were strong 
internal candidates, the board would 
conduct an international search for 
Mr. Kells’s successor. 

This would be a major break with 
tradition for the conservatively 
managed building-materials com- 
pany .CSR previously laid out suc- 


cession plans aimed at finding new 
chief executives by promotion from 
within its ranks. 

“It could signal that this is die 
start of them having a good, hard 
look at themselves.” said Steve 
Marsh, who helps manage 4.5 bil- 
lion dollars at Legal & General In- 
vestment Management 

CSR. one of the 20 largest compa- 
nies in Australia, began as a sugar 
refiner in the late 1 800s and now has 
a major presence in the building and 
aluminum industries. 

CSR s exposure to the depressed 
local housing sector was responsible 
for much of its recent profit slump, 
but analysts also cited disappoint- 
ment with Mr. Kells 's failure to sell 
CSR’s 1 billion dollar timber op- 
erations this year and its relatively 
small returns from a large capital- 
spending program. 

Some analysts were surprised that 
Mr. Kells had not stayed for the rest 
of the current financial year, es- 
pecially with tbe company's profit 
expected to rebound. 

CSR said that u hile is had a strong 
list of internal candidates, it had 
begun an international search to fill 
the job, which carries an annual sal- 
ary of 900,000 dollars. 

CSR stock rose after Mr. Kells's 
resignation was announced and 
closed in Sydney at 526 dollars, up 
0.11. i Reuters. Bloomberg 1 


Tokyo Stocks Dip Below 18,000 

Slower Growth and Lower Profits Depress Share Prices 


Chi' 5*nf Frrwi Pvjul.ttn 

TOKYO — Japanese share prices 
closed at their lowest level in nearly 
five months Friday, a day after the 
govemmem reported the economy 
had posted its sharpest quarterly 
contraction in 23 years. 

Japan's Nikkei 225-share index 
dropped below the support level of 
18.000 for the first rime since Sept. 2, 
ending down 316.43 points, or 1.73 
percent, at 17,965.80. 

Japan’s gross domestic product in 
the three months to June fell 2.9 
percent from the March quarter, 
equivalent loan annualized contrac- 
tion of 11.2 percent — the worst 
economic performance since the 
firsi oil shock in ] 974. 

“Things are pretty ugly here in 
Tokyo," said Robert Sasaki, a 
strategist at Jardine Fleming Secu- 
rities (Asia* Ltd. “What underpins 
Che stock market is the economic 
outlook, and given those results, 
there's really no reason to be 
bullish." 

The yen also slipped Friday 
against the dollar. The 0 .S. currency 
closed Friday in Tokyo at 120.70 
yen compared with 1 19.55 yen at the 
close in New York on Thursday. It 


was quoted at 121-04 yen at midday 
Friday in New York. The rise came 
even though there is a lingering 
worry in the market that a rise above 
120 yen would cause trade friction 
with the United States and chat will 
eventually pressure the dollar. 

Another report on Friday added to 
the gloom, as the Finance Ministry 
said" Japanese company earnings 
would grow this year at the slowest 
pace since 1992. when the economy 
was in full-blown recession. 

More than 1 1,250 companies sur- 
veyed by the Finance Ministry said 
profits would grow only 1.8 percent 
in the year ending March 31 — 
down from the 8.9 percent growth 
they projected only three momhs 
ago. Profits will actually fall in the 
second half as a series of tax in- 
creases continues to stifle consumer 
spending, they said. 

The surveyed companies, which 
include both private and publicly 
held nonfinancial institutions, also 
forecast slower sales growth in the 
second half of the year. 

The report counters claims by Fi- 
nance Miaister Hiroshi Mitsuzuka 
and others that the economy would 
rebound later this year. 


“Listening to Mitsuzuka, we get 
ihe usual promises that 1.9 percent 
growth is achievable and that Japan 
will be led by domestic demand,” 
said Cameron Uxnetsu, an econo- 
mist at UBS Securities Ltd. “It's 
characteristic of someone in denial 
mode.” 

Mr. Mitsuzuka said Friday that 
while Japan cannot afford tax cuts or 
more government spending to stim- 
ulate the economy, GDP will meet 
the government's growth target. 

The head of Japan's Economic 
Planning Agency, Shinpei Nukaya. 
said that the recovery trend was ex- 
pected to become clearer in the 
second half to March 1998 once 
“the temporary shock” from the 
consumption-tax increase had re- 
ceded. 

The agency is to release its 
monthly economic assessment next 
week. 

The government recently ac- 
knowledged it underestimated the 
impact of the April 1 increase in the 
national sales tax to 5 percent from 3 
percent. The higher tax depressed 
sales of items from automobiles to 
clothing. 

(Reuters. Bloomberg, AFP I 


Takushoku Tries to Save Merger 


GwpiWI* '.<in SWfffnigi CtyuKhrr 

SAPPORO, Japan — Hokkaido 
Takushoku Bank Ltd. said Friday 
it would write off 350 billion yeh 
( $2.93 billion ) in bad loans to ny to 
save a merger designed to improve 
the company’s financial health. 

The company, the smallest of 
Japan’s 10 major “city” banking 
concerns, said it expected to post a 
pretax loss of 290 bUlion yen for the 
year ending March as a result of the 
write-off. The bank earlier forecast 
a pretax profit of 1.5 billion yen. 

Hokkaido Takushoku made the 
forecast after announcing it would 
not be able to merge with the re- 


gional lender Hokkaido Bank Ltd. 
on April 1; as it announced five 
months ago it would. 

“With" this write-off. our bank 
can dispose of a substantial 
amount of our bad loans,” said 
Chuji Ono. Hokkaido Tak- 
ushoku 's executive vice president. 
“This will allow us to reduce the 
burden for the bank that will be 
created after the merger." 

The write-offs are part of a gen- 
eral restructuring plan that" in- 
cludes requests for assistance from 
creditor banks and insurers. 

But Japan's banks, struggling to 
w rite off 27.9 trillion yen of their 


own debt, may not be willing to 
give Hokkaido Takushoku a 
handout, analysts said. 

Traditionally. Japanese compa- 
nies have relied on each other for 
assistance, but banks now' are 
cleaning up their books as they 
prepare to follow stricter govern- 
ment rules on assessing bad loans. 

Hokkaido Takushoku said it had 
935 billion ven in bad loans as of 
March 1997’ 

Hokkaido Takushoku shares 
closed Friday in Tokyo at 108 yen, 
dow'n 2. The bank released details 
of the restructuring after the mar- 
ket closed. tBIooniberg. Reuters) 


is to Revive Economy 


Vietnam Ai 


Reuters 

HANOI — The government will 
take steps to revitalize ihe slowing 
economy and guard against the im- 
pact of financial turbulence in 
neighboring countries, media re- 
ports said Friday. 

New spapers gave a lengthy list of 
economic problems ihat had been 
discussed at the cabinet’s monthly 
meeting Wednesday and Thursday 
but were vague on the solutions 
adopted. 

“Specific measures include the 
promotion of exports, the boosting 
of domestic purchasing power io 
prevent a further drop in price in- 


dexes and an increase in money- 
supplies to cover capital construc- 
tion projects.'* the daily Vietnam 
News said. It also mentioned a need 
for “more credit” for production. 

The reports did not explain how 
Hanoi would protect itself from the 
impact of recent currency slumps in 
the region, which analysts say have 
left the nonconvertible Vietnamese 
dong overvalued. 

But they said exports would be 
promoted by granting quotas to all 
exporters immediately rather than 
on a month-by-raonth basis. 

“This would allow exporters to 
sign contracts with their foreign 


partners for the remaining four 
months of the year.* ’ Vietnam News 
said. “It should also immediately 
boost rice exports. Vietnam’s major 
foreign-currency earner." 

The cabinet agreed that local au- 
thorities should grant more funds to 
producers and then identify- and deal 
w ith production bottlenecks, ft also 
called for efforts to balance the 
budget and expressed concern about 
sluggish retail sales, which are ex- 
pected to be down 8 percent in the 
January-September period, and Vi- 
etnam News said the meeting said 
measures should be found to prevent 
price indexes from falling too far. 


PAGES 


PAGE 15 


Investor’s Asia 


Hong Ko&g )} -Singapore . .. 

SfcafisTIroe®. 

■17000- 
■ 16000 


Tokyo 

N&kei22S:‘. 



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1987 


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1997 


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A M J J A S 
1997 


'Ekeh&ngftO - Friday ' ,'Prev. ' ' % I 

'■ ;i ' ; -v* 7 ; *1 \ . ■' . <8os& . . ' "Close ■ Change] 

Hong ***§£: * Sfebff ■ ■ . ; $A$ KaORflb'-fj.JS: 



Tokyo .. ’■ -225 17,3S5.$0 .76^82^3 -4.79 




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Bomba* v-.*,' SeesStiire Index ' . 3,995.94' 4,010.07- -eLfe 


Source; Telekurs 


lurmaortul Herald Tribune 


Very brief iys 

• South Korea will allow its biggesi companies to increase 
their international borrowing because of the rising cost of 
borrowing from domestic banks. A string of bankruptcies has 
rattled South Korean banks and raised their borrowing costs as 
their ability to repay came under question. 

• China’s retail inflation rate fell last month to its lowest level 
since 1978, when the country' began its transition to a market 
economy, Qiu Xiaohua, chief economist of the State Statistics 
Bureau, said. Retail prices rose 0. 1 percent from a year earlier, 
slowed from a year-to-year rise of 0.6 percent in July. 

• KDD Co.’s U.S. subsidiary was granted two licenses to 
operate in the United States by Washington, which had long 
refused the Japanese long-distance company such licenses 
because of Japan's limits on foreign companies' access to its 
telecommunications market. 

• Asia Inc., a Houg Kong-based magazine published by 
Thailand’s cash-strapped Manager Media Group PCL, is 
talking with investors to keep die publication afloat 

• Itochu Corp., one of Japan's largest trading companies, will 
sell its 30 percent stake in Turkey's Anadolu Tuketid 
Finansman, an automotive finance company. 

• Australia’s energy minister, Warwick Parer, risking 
China’s anger by visiting Taiwan, said Canberra backed 
Taipei ’s application to join the World Trade Organization and 
hoped for stronger bilateral trade relations. Bloomberg. Rouen 


Chrysler Ends Honda Link 

Bloomberg Ne* s 

TOKYO — Chrysler Corp- gambling that it can op- 
erate alone in the Japanese market, broke off a seven- 
year-old pact Friday with Honda Motor Co. to sell the 
U.S. automaker’s Jeep line of sport-utility vehicles. 

Chrysler, the third-largest U.S. automaker, wants to 
sell its Jeep Wranglers, Cherokees and Grand Cherokees 
through the sales network it started building two years 
ago. Chrysler said it was sacrificing short-term sales for 
what it hoped would be long-term gains in the world's 
second-largest car market. 

Honda sells Jeeps at 1.886 showrooms around Japan, 
Chrysler had just 119 showrooms as of August. 

“Today’s announcement makes a lot of sense in the 
long term.” said David Kanda, a spokesman for Chrysler 
Japan Sales Ltd. The Jeep line-up “is more attractive for 
potential dealers,” he said. Honda accounts for about half 
of the 9.500 Jeeps sold in Japan so far this year. 







V 


POINT BLANKS By Frank Longo 


ACROSS 
March event 

law(i=vfrt 

They may 
appear in the 
tong ran 

-The Phantom of 
the Opera* star, 
1962 
Appear 
1 TV actress 
Spelling 
Sound from tbe 
bleachers 
1 She played 
Sarah in “The 
Bible* 

: Hardly Mensa 
material 
Kind of session 
' Understanding 
Hard rock, 
maybe 

i Suburb north of 
Seattle 

» Mole, for one 
Directional 
suffix 

Warhol icon 

Sedgwick 


33 Medh. nation 

34 Tricked 

35 Stem joint 

36 The 

Adventure" 
(“Star Wars” 
spinoff) 

37 Group of planes 

39 Bitey beginning 

49 like 

41 ■GiDiean's 
Island" actress 

43 1974 hit 

subtided Touch 
the Wind" 

45 Composer 

Prokofiev 

48 “Exodus' role 

47 John of York 

48 Pizzeria patron 

49 Property erf 
housepets? 

56 Tackled 

51 Hay morsel 

52 Reassurer’s 
words 

54 Animation 

55 Perfect 

57 Ending with 
blind or broad 


MEDITERRANEAN 
YACHT MOORINGS 

For Sale 


Contact 
Marco Recch'ra 

COGEMAD 

Tel.: 33 4-93 633-633 
Fax: 33 4-93 633-o34 


58 Kilowatt-hour 
fraction 

59 Congratulations, 
of a sort 

60 Decline 

62 Bereavements 

64 “It Happened 
One Night* 
producer 

67 Violinist 

Jean — — Parity 

68 Dosage amts. 

71 Diamondof 

records 

73 fBgerian 
language 

74 Bookstores? 

78 Cozened 

77 Fust Lady of 
1900 

80 Magazine tha: 
debteed 2/17, *33 

82 Cheer 

83 Darya 

(Asian rrverj 

84 When repeated 
twice, a 1964 
pop hit 

85 Botswanan 
problem 

86 Go-getters 

88 Portray 

90 Grenoble's 
river 

91 Battle of Co rone! 
admiral. 1914 

92 Drunk’s woe. 
with "the" 

94 Tbe Dark at the 
Top of dte 
Stairs" 
playwright 

95 Better than 
never? 

96 Pancreas, e^;. 

97 Tone to look 
ahead 

98 First name in 
spydom 

gg only 

knew" 

200 Intersecting 
street 

101 Sammy Davis Jr. 
had one 

103 Drop the ball 

105 Small songbird 

106 Come about 

107 - 

Fool’s last 

109 Oockmaker 
Terry 

HO citato 

111 Not weH-done 

112 They're not in 
rhe rrndear 
family 

ns Matter for a 
judge 

ll4ThriEs 

115 “My Way" 
soegwnter 

1 16 Sensible rathe 
nh degree 



Z’JVew York Times/Edited by Will Shorts. 


DOWN 

1 Fjord fm2« 

' ofthe 

Skagpmk) 

2 Preview- 
programs for 
computers 

3 Contract 

4 Transfix 

5 Possible change 
in Russia 

6 Not lethargic 

7 Idle 

8 Cemerofaroasi 

9 Rocky Lane 

spoke for him 

10 Tom Sawyer's 
half brother 

11 One letting go 

12 Couch potatoes, 
often 

IS “The Furys* 
novelist James 

14 Wrapped up 

15 School reward 

16 Lausanne lies on 
it 

17 Is intemperate 

18 Quirks, say- 

14 -These Dreams" 

” s-r-ger.ifSS 
29 Maniacal 

32 Guitar-picking 
pioneer Ever- y 


35 Math calculation 

36 North Holland 
seaport 

37 Delicate 

38 In a difficult 


40 Tackle 
42 Open tract 

44 Drip site 

45 Ethel Merman 
and Jack Benny. 

e.g. 

52 “Children of the 
Albatross’ 

author 

53 Conductor 

Kla s 

56 Hold 

57 Logging-on need 
59 Sororiiy letter 

61 Torpedo 

62 A-M-A. members 
S3 Disgusted 

64 6102 cubic Inch 

65 Frederick 
Forsyth best 
seller, with 

'The' 

66 1975 James 
Taylor hit 

68 Euripideanwork 

69 Angler's hope 

70 Chaldeans 


72 The maximum, 
often 

74 — —majesty 

75 Turns away 

76 Pot to use 

78 Duds at work 

79 Pot grower? 

81 To be. in 

Bordeaux 

87 Cave 
89 Inlet 

91 Oscar Madison, 
for one 


93 Donald's 
daughter 

96 Bellyache 

98 Kind of 
hound 

100 U.S.N. 
personnel 

101 Enter 

102 bettings 

104 Unwind 

107 Depression-era 
inks. 

108 Resource to be 
upped? 


Solution to Puzzle of Sept. 6-7 




FIGHT: Joint Venture's Collapse Leads to Battle of Korean Banks 


Continued from Page 11 

ing tbe specter of unfettered foreign com- 
petition just when South Korean 
finan cial institutions are at their weak- 
est 

Under an agreement with the Orga- 
nization for Economic Cooperation and 
Development, South Korea has pledged 
10 fully open its financial markets to 
foreign companies. 

But the measures implemented so far 
by South Korean authorities more 
closely resemble Japan's gradual ap- 
proach than they do traditional free- 
market strategies. 

Playing to South Korean nationalism, 
Mr. Tose warned Seoul this week not to 
make the same mistakes as Tokyo in 


dealing with its fragile financial sector. . Tose told a conference last week about 
Japan mishandl ed its banking crisis by Korea chat was sponsored by Peregrine 
failing to acknowledge the size of die and three powerful chaebol, or business 
problem early and by mistakenlyhoping conglomerates, and was organized by 
strong exports would lift the overall econ- the International Herald Tribune, 
omy and ease the banks' difficulties. “After pulling off an economic mir- 

In particular, Seoul plans to maintain acle over the course of 30 years, this was 
tight regulations and direct supervision the year structural problems began to 
10 prevent what would be die first bank- assert themselves in a wave of major 
ruptcy of a Korean financial institution, bankruptcies," he said in his speech, 
“Intense competition among finan- ’ which was boycotted by delegates from 
cial institutions would seem to pose the chaebol sponsoring the conference, 
somewhat of a threat to die stability of In his speech, Mr. Tose said a com- 
tfre entire financial system," Park Yung petitive banking sector was the "first 
CbuL, president of the Korea Institute of prerequisite’ ’ for reform in South Korea. 
Finance, said last week. Banks needed to adopt international 

“Historians may conclude chat the standards for evaluating the creditwor- 
year 1997 marked a watershed in thiness of borrowers for South Korea to 
Korea’s economic development,” Mr. prosper in the long term, he said. 


AIRPORT: Kuala Lumpur Project Survives Economic Troubles 

Continued from Page 11 

is Bangkok, which has been 
planning a second interna- 
tional airport since 1967. The 
on-again. off-again project, 
plagued by political 
wrangling, has been post- 
poned, and die Thai govern- 
ment has said it will expand 
the current airport in the 
meantime. 

Kuala Lumpur's new air- 
port, by contrast, was con- 
ceived in 1992, and construc- 
tion work started two years 
later, “We have had the full 
backing of the government," 
said JamiJus Hussein, man- 
aging director of Kuala Lum- 

§ ur International Airport 
hd., the state-owned com- 
pany charged with the con- 
struction. ’ 'The financing and 
decision-making was there.” 

Tim Goodyear, a spokes- 
man for the International Air 
Transport Association, said, 

“If countries' do not provide 
the most up-to-daie facilities, 
then carriers flying in from 
outside the area could well 
make a choice to stop in one 
country rather than another.” 

But in Asia, he said, the 
main concern is to keep up 
with growth. 

“It’s not a question of Ku- 
ala Lumpur crying 10 steal 
traffic away from anywhere 
else." he said. “The whole 
area is a tremendous growth 
prospecr for aviation." 

That view is echoed by 



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Gary Dennison of the air 
transport association in 
Singapore. 

“I don’t think Kuala Lum- 
pur is going to pick up any 
more traffic with their new 
airport,” he said. “They're 
just going 10 keep up with 
growth in air traffic." 

The air transport associ- 
ation estimates that by 2010, 
more than SO percent of all 
international flights will have 
links to the Asia-Pacific re- 
gion, up from roughly one- 
tfiird in 1990. 

The new airport features a 
four-kilometer (2.5-mile) 


runway — long by industry 
standards — a train to shuttle 
international passengers from 
check-in counters to their 
gates and an underground, 
state-of-the-art baggage-han- 
dling system. A corridor con- 
taining duty-free shops spans 
almost a kilometer. 

But airline analysts say it 
will take more than new fa- 
cilities for Kuala Lumpur to 
become a regional hub. 

“Look what’s happening 
with Jakarta," said Maria 
Hinayon, a statistician at Air- 
ports Council International, 
an industry group in Geneva. 


* ‘Jakarta is a brand new, beau- 
tiful airport, and the traffic is 
increasing, but it's not a major 
hub or stopover point, ' ’ 

. “We're talking aboui the 
biggest growth region in the 
world in aviation, incredibly 
congested airports and bigger 
airplanes going on stream 
soon," said Bany Grindrod, 
managing editor of Hong 
Kong-based Orient Aviation, 
a trade magazine. “So the 
fact that these airports are 
opening is very good for the 
region and very good for the 
articular countries and their 
ome airlines.” 




s 


PAGE 16 


BVTOK WAT10NAL HERAUP TRIBUNE, SATURDAy-SUNDAXSEPTEMBER 13-16, 1997 

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E, tPF.nNESPAy, SEgfE MBER 24, 1997 


PAGE 3 



Fundam ental Corporate Information On-Line and On Bookshelves 

NotNnt r A A Daunting Quest Made Easy 

i jewel runa V- infomafcn 10 in,ema " ona ' investore ,or no cnar9a Many r„, Fn trine* That Could 

Offers a Web offer additional services for registered and paying users. . j MJjf *360-1 UjILg' J- v-fV 

Of Investments 


By Conrad de Aenlle 



NE TENET OF investing is to 
I never put money into a busi- 
' ness you do not understand, a 
- rule that if strictly followed 
w ould allow few of us to own the stocks of 
companies in Internet- related industries. 

A portfolio manger based in 
Michigan. Munder Capital Manage- 
ment. runs a mutual fund called NetNet 
that concentrates on those industries — 
software, search engines, network 
equipment and others. 

Although such funds are becoming 
common, the twist with NetNet is that it is 
marketed exclusively over the Internet to 
the technologically inclined. The fund also 
invests in companies that are in conven- 
tional industries but whose use of the In- 
ternet is a key aspect of their businesses. 

“Although many of our holdings are 
technology-oriented, it's not a straight 
technology fund,” said Paul Cook. Net- 
Net’s lead manager. “We also own 
companies looking to use that technol- 
ogy to their advantage.” 

He cited Charles "Schwab Corp., the 
largest American discount stockbroker, 
which is generating considerable volume 
via Internet trading, and Amazon.com 
Inc., which sells books on Internet. 

NetNet. started a year ago, is small, 
with $3.5 million in assets. Potential 
clients can download the prospectus 
from M under’s Web site, which is pro- 
moted with “banner 
ads” on newspaper 
Web sites. It also has 
been the subject of ar- 
ticles in the technol- 
ogy-sector press. 

Because the fund is 
relatively new. Mun- 
der has yet to conduct 
a study to see who NetNet’s share- 
holders are or whether they differ much 
from owners of its two dozen other retail 
funds, which are sold more conven- 
tionally. International investors may 
purchase shares, depending on then- 
country of residence. The transfer agent 
tor the* fund checks foreign applications 
to verify whether the investors are al- 
lowed to own the fund. 

The U.S. Securities and Exchange 
Commission, which regulates the mar- 
keting of mutual funds in the United 
States, offered little resistance to Mun- 
der' s Internet sales strategy. But one 
concern was how to define the tuna s 
universe of investable companies. 

An example is Intel Corp.. one of its 
holdings, which derives virtually no rev- 
enue from the Internet per se. Yet be- 
cause its products are in the guts of most 
personal computers, its prospects depend 
to a degree on growth in Internet use. 

NetNet has performed well dunng ns 
vouna life. From its introduction m Au- 
gust 1996 through Sept. 4, it had a Kitaj 



SITE ABDKESS 

MSNBC www.msnbc.com 

Customized news service Including International stock quotes. 
Indexes and company listings. 

CNN Financial News www.cnnfn.com 

Customized stock quotes, global financial news and stock 
market updates 

Tokyo Stock Exchange www.tse.or.com 

Japanese and English bilingual site includes stock price index 
by Industry, listed companies with links to their sites and 
other financial Institutions, market research and foreign 
company listing requirements 

Brussels Stock Exchange www.beurs.be/ 

Visitors offered a personalized home page where stocks and 
Indexes can be selected and tracked. 

FreeEDGAR www.freedgar.com 

Free real-time access to SEC filings. Key software tools to be 
downloaded free of charge. 

Hoover's StockScreener www.stockscreener.com 

Screens and sorts U.S. stocks by industry and exchange using 

20 different performance criteria. Provides link to Hoovers 
Company Capsules. 

Yahoo www.quote.yahoo.com 

World financial news, currency exchange listings and access 
to the Motley Foot persona! investment forum ( fbtx.yahoo.com ) 

Dow Jones Asia Pacific www.djtelerate.com.hk 

Regional financial news briefs and access to Asian equities, 
futures and commodities reports. 

Silicon Investor www.techstocks.com 

StockTalk Forum dedicated to high-tech- oriented global 
securities and financial markets. 

Quicken Financial Network www.qfn.com 

Advice on personal finance, including how to select U.S. and 
global mutual funds, insurance and tax-planning strategies. 

Investor Relations Asia www.irasia.com 

Designed for professional fund managers, offers investors 
information. Including stock quotes, on Asia securities 
„. 10 _ , _ www.textor.com/cms 

CMS Business 

Intelligence Catalogue . . 

Newsletters and reports listed by subject, region and country. 


Munder Fund s Largest Holdings 


Name 

Galileo Technology 
E*Trade Group Inc. 
Newbridge Networks Corp. 
CUC International 
Inter-Tel Inc. 

Microsoft Corp. 

C/Net Inc. 

Cybermedia Inc. 

Forrester Research 
Sun Microsystems 


SITE ADDRESS 

AsiaOne Business Centre www.asial.com.sgbizcentre 
Regional financial news, free stock quotes from selected global 
exchanges. 

The Universal Currency www.xe.net/currency/ 

Converter 

Performs foreign-exchange currency conversions 

Electronic Share Information Ltd. www.esi.co.uk 

Personal-finance-oriented with London istacfcprfejs. 

trust prices, company data, news and portfolio management. 

European Business News www.ebn.co.uk 

European financial news. Interviews in text and audio formats. 

Financial Interactive Services Hub www.fish.com.sgi 
Stock information on the Singapore and Malaysian markets. 

Bloomberg Personal www.bloomberg.com 

Financial and general news. Globa! real estate listings. 

The Mutual Fund Cafe www.mfcafe.com 

News and information affecting mutual funds around the world. 

Standard & Poor's www.stockinfo.standardpoor.com 

Equity investor Services 

U.S. financial news and stock reports. 

The Toqueville Connection www.adetocqueville.com 
French financial news and analysis. Stock W°tesforthB Pans 
Bourse and French companies listed on U.S. exchanges. 

Center for http^/netrus.net/users/gmor1es/index.htmal 

Latin American 

Capital Markets . 

Links to toe ma/or exchanges in trie region. Local financial news. 

TrustNet Ltd. www.trustn 0 tco.uk/ 

Lists Us top 10 most visited Web pages for global investment 
funds, management groups and performance regions. 

Internet v.’ww.xroadsme.com/med/index.htmal 

Business Services 
for the Middle East 

Regional and international financial news, information and 
business opportunities. 

Mbendi Afropaedla http://mbendi.co.za/index.htm 
Links to mapr exchanges in Africa. Local financial news 
and company listings. 


I! 



Symbol 

% of Portfolio 

GALTF 

4.61% 

EGRP 

4.28 

NN 

4.21 

CU . 

4.15 

INTL 

4.05 

MSFT 

3.95 

CNWK 

3.87 

CYBR 

3.74 

FORR 

3.67 

SUNW 

3.38 


Name 

Ameritrade Holding Corp. 
Ascend Communications 
Cisco Systems 
Adobe Systems 
Transaction Systems Architects 
Charles Schwab Corp. 
WorldCom Inc 
Checkfree Corp. 

Intel Corp. 

Oracle Corp. 


Symbol 

AMTD 

ASND 

CSCO 

ADBE 

TSAI 

SCH 

WCON 

CKFR 

INTC 

ORCL 


%of Portfoflo 

3.33% 
3.33 
3.23 
3.03 
3.02 
2.95 
2.95 
2.76 
2.72 
2.69 


By Holly Hubbard Preston 

NTERNET lore holds that a person 
can find anything oq the World 
Wide Web. The challenge is fig- 
— uring out how to do it quickly. For 
individual investors seeking on-line fi- 
nancial information about a mutual fund 
or little-known company, the process 
can be tedious. 

There is no shortage of mvestmem- 
oriented information on the Web. Ex- 
ecute a search using the bey words “fi- 
nance” or “investment” and an in- 
vestor could end up clicking 
through potentially thousands 
of site addresses. 

One easy way to access in- 
vestment information on the In- 
ternet is to use one of the free 
search engines available on the 
Web. These engines allow you 
to look up information either by key 
words or by following thematic 
menus. 

Many on-line investors looking to cut 
comers can do so by heading straight for 
the search icon offered on the home 
page of their Internet service provider's 
Web site. Several different search-en- 
gine options generally will come up. 
Among the most widely known of these 
are Yahoo. EXCITE, Alta Vista and 

InfoSeek. „ , 

There are dozens of other lesser- 
known search engines available through 
country-level and regional Internet ser- 
vice providers around the world. 

As the search-engine business be- 
comes increasingly competitive, 
companies are trying to sweeten their 
allure by offering a host of on-line ser- 
vices, including up-to-date headline 
news from around the world, stock 
quotes and even special investor chat 
rooms and bulletin boards. These ser- 
vices can be found by reviewing the 
search engine's home page and then 
clicking through a series of self-explan- 
atory links. • . . 

For instance, dick your way through 
Yahoo’s Web site to the finance and 
investment category and you will have 
access to Yahoo Finance, which fea- 
tures quotes, portfolios, currency ex- 
change rates. The Motley Fool, cor- 
porate profiles, upgrades Mid 
downgrades, U.S. Securities and fax- 
change Commission filings and eco- 


nomic and earnin gs c alendars. 

The rival EXCITE offers StockChar. 
a hyper-link service accessed through 
its primary Money link that delivers its 
site visitors to a daily on-line stock chat 
sponsored by the U.S. brokerage house 
Charles Schwab & Co. . 

EXCITE users can also create their 
own customized stock portfolio or post 
questions or thoughts on an investment 
bulletin board. 

Tnfnseek’s main page offers a direct 
link to its market snapshot, a custom- 
izable page that itself offers links to 
other services including a month s 
worth of Reuters news and 
press releases about specific 
U.S. -listed companies. 

One of the older search en- 
gines. Lycos, has extensive 
business links, including an in- 
ternational section that helps 
you find corporate home pages. 
Search engines are use fill but they are 
no panacea to the problem of infor- 
mation overload. Even the most seem- 
ingly specific search-engine queries can 
yield hundreds if not thousands of bits 
of data, some of which may have noth- 
ing more to do with the subject in ques- 
tion than a shared word. 

Although search-engine companies 
are honing their technologies, fast Web 
searches remain something of a learned 
science. 

In the interim, search-engine compa- 
nies are tackling some of the tedium by 
providing site visitors with extensive, 
highly specific content categories on 
their home pages. Click “Business and 
Finance.” then click “Personal Fi- 
nance.” and a host of specific indi- 
vidual-investor categories and sub-cat- 
egories will appear. 

Most search engines provide a hot 
link or icon button with helpful tips 
about using its particular service. 

For all they lack, a good search en- 
gine is likely to be faster and probab y 
more thorough than any librarian could 
ever hope to be. 

For further information, consult these 
search engines: 

• ALTA VJSTA. Imp tt 4 iavivn.digiul.CCTn; 

• EXCITE, ttum.exaiecom 
» HOTBOT. Jimtwcora 

• INFOSEEK. mloseeLcomi 

• LYCOS. Jyw*.c«n 

■ YAHOO, uw Kata* com 

■ WEB CRAWLER. u.w* »rK-T»*tet com/ 


An Investor’s Garden of Guidebooks: Brush Up Before You Buy 

^ d said William Cargill, Hoover's senior 

If yon want to investigate corporate 
surveys and handbooks, request a 


By Judith Rehak 


T 


the Standard & Poor’s publications and 
the Value Line Investment 'Survey. 

In its stock report, S&P covers about 

- V/»r«lr onn 


said William Cargill, Hoover’s senior 
editor. He emphasized that Hoover s 

profiles were carefully researched. 

HE IDEA OF corporate guide- ily^ivatiable ^nAm^can companies^ 

^.^viueLineo ffers infer- 

and Extel, both owned by Pearson PLC. 
publish handbooks for British compa- 
nies and a European guide that covers 
2,300 corporations. They in- 
clude descriptions of a com- 


/unencau — ., - 

S' l ftwoStaSd E 

from all three. Both fearure reviews of 
Public Library, for example, boasts past and current corporate develop- 


wwguij — cr 

— brary shelves. The business and 
economic section of the New York City 


erable Japanese Company Handbook, 
whose domestic edition sells 2 million 
copies each quarter. Toyo Kezai Inc., 

C °SKiu!^ra fl^Fguide- provide a list of companies they cover 
boSfo^e^g^ rnStet £ rheck die timeliness of financials and 


mrr ArudydcalServicca. combed with PnbUcJ ^.,^ , — S^nancial histones and forecasts 

46 6 Dercent for the average technology rows of sn ch P . . . states to of earnings and stock prices by analysts. 
fijiid^Over'lte same pSfod £ Stan- company from the United States ^ ratin g, updaIe? qnarrerly. „ 

dard & Poor’s 500 index of blue-chip 


stocks rose 42.5 



Per 

Performance has 


icenL . 

dimmed a bit this 


Brazil and Thailand. 

But for investors who like to do their 
own homework, the best of these guides 

!J. ~ imfiiim HT Vfllll- 


UX Ml X . - 

and ratines, updated quarterly. 

Steve Sanborn, Value Line s research 
editor, estimated that about 80 percent 


bit this own horr^worl^A^lb^rot, these giu ’ ’ ublicalion - s 100.000 subscribers 

ssassSsMs s&st«s«?at 


since Jan. 1 trails the 24.7 percent _ 
of technology funds and 27.2 percent 

sain of the S&P 500. 

~ The fund displays the volatility typ- 
ical of technology companies, which, 
because of the embryonic nature of their 
businesses, often trade on expectations, 

not earnings. ■ 

■ The Internet is going to go through 
peaks and valleys depending on how 
much hype it receives." Mr. Cook said. 

•“We’re long-ierm-onented to begin 
with,” be said. “This is not something 
I’d liken to a fad It’s something that will 
fundamentally change the way we do 
business and conduct our lives. 

For further information: 

NTTNET FVND by- Munda'v Web we u 

vtanr.calJ I 8W6J?M01 


Uve near a library to peruse them. Most 
can be purchased directly from their 
publishers, and often come m small 
paperback or binder forms that invite a 
leisurely leaf through their pages from 
your most comfortable easy chair. 

The quality of information vanes 
widely, however. Some corp orate 
guides list no more than a company s 
address, telephone and fax numbers, 
with a brief description ot its business 
and perhaps a sales figure. At the high 
end are those thar include a history or 
key financial data, such as profit and 
loss figures, share price and dividends, 
plus reviews that provide insights into a 
company’s strategy and prospects. 

For publicly listed American compa- 
nies, the most well-known guides are 


ular features is its “timeliness” rating, 
from a top ranking of 1 down to 5, 
basically an opinion on how a stock wiu 
do in the next six to 12 months. 

On a slightly different wavelength, 
but also popular with readers, according 
to the New York Public Library, is 
Hoover’s Handbook of American Busi- 
ness, which follows 705 selected 
companies, large and small. 

Hoover’s Inc., which is based in Aus- 
tin, Texas, does not rate companies for 
investment potential, but does include 
much of the same information as Value 
Line and S&P. It prides itself on the 
readable and forthright style of its ex- 
tensive company profiles. 

“Our central tenet is thar business 
information doesn 't have to be boring. 


pany’s activities and three ro 
five years’ worth of financial 
data, but lack any discussion of 
its pasr or current events. 

Hoover’s publishes a 
“Handbook of World Busi- 
ness,” which follows the more in-depth 
formal of its American guide, but covers 
only 250 companies. 

The French Company Handbook, 
published annually by the book division 
of the International Herald Tribune, 
provides five years of financial high- 
lights, a history and an “important de- 
velopments" section for each of the 120 
companies in the Paris Bourse's SBF 
Index, including the constituents of the 
CAC40. The guide includes other useful 
information, such as industry reviews 
from Bloomberg, the international fi- 
nancial service nsed by professionals. 

In Asia, the bible of Japan investors, 
both domestic and foreign, is the ven- 



Thornton Investment Management ua, 
a British fund manager that spe- 
cializes in Asia, has broughi out 
three guides on listed companies 
in Hong Kong (including main- 
land Chinese companies, or red 
chips), Singapore and Malaysia, 
and Thailand. Korean companies 
are covered in a new book from 
Asia-Pacific Infoserv Inc., a business 
publisher in SeouL 

Latin America has joined the band- 
wagon, with stock exchanges and pub- 
lishers in Argentina, Brazil and Mexico 
collaborating on guides. While their 
company reviews and outlooks are not 
extensive, and in some cases nonex- 
istent, this new crop of guides is es- 
pecially valuable in emerging markets, 
where information can be difficult to 
nn parth, even for professionals. 

They have other benefits, too. The 
Brazil guide, for example, explains how 
its stock exchanges operate and lists 
companies that issue depositaiy re- 
ceipts, shares that trade on exchanges in 


oviac a xisi ui u us.j 

Check die timeliness of financials and 
other information, and the publication 
date of the next edition; guides may be 
updated annuall y, semiannually or 
quarterly. Depending on what you want, 
you could spimd as little as $8 for a smgle 
company review to more than $500. 
For further information: 

. ASIA PACIFIC If^OSER V JNC. KCTra handbook. S250 
Telephone. £02 3(0 380ft fix. 822 362 33W 
• FINANCIAL TLWESIEXTEL. M^joi U.K. CooromK*. £185 
<52901 mice a year. Smaller UK. LompMun. *lj® * J™ 

Euraoui CtunpamCi.£2IOmt«ayeal Telephone. 44 171 B2S 

8754: fax. 44 1 71 60S 2032 

. HOOVER'S INC.. Hamfiw* of jUrcrican BwmM* « 
voitmml. SS45S: Handbook of WotH BuuMtt S44.W. Ar- 

C rina S34.9S: Brazil 549.95: Mni»- ^dekita* in 

Untied State*. I 800 486 8666: in Eurow. 44 1 86 55 1 31Wc 
eUewtara.512 374 450tt fw.512 374 4501 
• INTERNATIONAL HERALD TRIBUNE. French Company 
«>/£££»« 3? I 41 4393 75: f». 33 I 41*3 4Sj 

• STANDARD * POOR S Stock M per 

Telephone m Ihe United Suuw. I BOO 2215277 i toll -free c 
elsewhere. I 212 770 44 li fax I 212 770 0275 


- THORNTON GLIDES. Hcti* Koap. SiWI*«and MflUtv; 
to. Thailand. S70 each Telephone. 852 2BW 89W. fax. «2 
2526 6130 

■ TOYO KH2A1 INC, Japan Company Handbook liw 
uolumeci. ShOeack Asia Company Handbook. S8ft Telephone 
In Japan. 81 3 3246 5633; toU- free In rbe United Stales. 1 800 772 
370lVotbeiwe. I 212 MU 6737; fax. 1 212 «9 6648 
• V ALL'S LINE INVESTMENT SURVEY. SJ70 a year Trt 
loll-frcr m die U ruled Stales. I 800 833 0046; elsewhere. I 212 
818 1 380: fax. I 201 939 9079 



: v - : 


For real growth, Robeco Bank recommends balanced, long-term investment and immediate action. ^ 

years 


The equity market otters a real opportunity tor 
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For this reason we would always advise investors 
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term performance and bonds for security. 
Privileged access to expert advice 
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, As we celebrate 23 vears’ presence in Geneva, we doll. us of I-h'V despite the occasional correction. 

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To: The Manager. Robeco Bank (Luxembourg! S.A~ 3 rue Thomas Edison, L-1445 Luxembourg. Fax: (352) 44 5Sb6. 

On The Manager. Robeco Bank (Suisse! S.A., 16 chemin des Coquelicots. Case Postale. CH-1215 Geneva 15, Switzerland. 
Fax: (41) 22-341 I3<»2. 

e-mail; for Luxembourg info@robecobank.lu or for Switzerland infa®robecobank.ch Reference C IH E 37 °7 

n j wou lJ like ro take advantage of the 25rh Annivcrsarv Bonus. Please send me an account -opening package- 
l~~! Please send me more inturnunon about managed imcsimcnrs from Robeco Bank. 

In English C German □ Dutch D French !_J Tut appropriate lv\ 

3 lr. Misv'Ms • Delete a> appropriate » Surname and inhi.il> ^ L '4r of Birth 


Protcssiiin 


Streei 


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Telephone; das time- evening ■ Deleu as appropriate > Conn:n Code 


.4*e.: Code 


X:: mbii 


the cbd ot 19*17 



ROBECO BANK 

LUXEMBOURG • SWITZERLAND 


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rnd 
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PAGE 18 



the fund performance focus 


■H-T- wocld 


dowRasweflasiijp. 


The I.H.T. 

ABNAMRO 


TRANS EUROPE FUND 



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Are Pleased to Introduce . 

Two Opfil £nd Of&hore Investment Companies: 


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potential white the Brnfftw bqnit> Trading Class employs an agg«*» |% e 
uiTcsunenl and trading strategy. Tbe BrazDbn Fixed Income Claw bursts n 
the defat securities of poblk and private Bnatiu issuers. 

ICATU ALPHA GLOBAL FUND. LDC 

The learn Alpha Clohal Fund. 1. DC offers three distinct professionally managed 
Investment classes, an Aggressive Growth Class, a Growth Class and a 
Conservative Growth Ctes- Eachxbu of the Find «0 attempt m marimar 
capital appreciation by tavestiitg Us asset* «Uh a group of premier money 
managers selected to Ln*e*l primarily in equit* and debt sreurilir* of issuers 
located throughout the world. 


Tkn attaaBACeaent if neufteran offrrtoirU nor a saUriunea of aa ejfrr to bay tun 
of thru- \reorities. The ofjtr is modt only by rhr Pnnptcttn. 

Copies of the pmsptem may he obtained from Hr. Daniel Femur 
Alpha Ftmd Hanapemetu, Ltd. 

4& Par la 1 ilk Rood. Suite 464 Bamiboa. Hitll BERML DA 
Phone: 441-1*5-9620 Fax 441-295-9637 


hKl BBL(L) Invest European 
Emerging Companies 

In compliance wtth ta trnnsarwra otyovc. BBL IL) Invest Earopea a Emag- 
tng Companies invests mainly at European small cap and growth stocks listed 
on specific surkds tEASDAQ. N.tS)AQ. ElSftN3J-). 


/taren! business indicators shoe that the recovery in Europe 
fends to gather momentum, which heralds c significant earn- 
ings improvement /t*r small-cap companies operating rc high’ 
growth market segments. 

Moreover, with the impressive gains scored by European equi- 
ties this par. investors air starting to bests on small arps wmek 
admittedly have narrower markets than the blue chips, bul of- 
fer a mud: stronger upside potential :k the long rax. 

BBLiL) Invest European Emerging Companies ts fixing this 
trend by investing prinunHy in EDP. bxteshnology and spe- 
cialist capital equipment stocks such as ASM Lithography (pro- 
jection systems). Sa rifle Systems (computer software.:. Boob 
' information systems). Xeiion t digital printing equipment), 
Lendtout & Hauspie (speech technology i. Innogenet-'cs ‘.ba- 
tecknology etc. 


B6L(L) invest European Esieipa; Geapauea isa sub-hrod c l ifce \ccrl 
fund BBL (Ll Invest incarpomteri si Ijrtero b c e gg. Together wi* umw 
B6L invest, uvccrporated'ia Seit^uro. B5L (Li- L-r.-esl O Sen- acesste 2 whale 
range c: area. cousin and inchier funds. 

Current!*-. BBL nffere mvesren a choice of mere lean 7X sub-fm , i5 and roan- 
ages had assets in excess at BEF 63i retor iVS5 17.5 riSra' - The Ba_ fund 
range includes money rorkn funds, beexi zsedx eesiy txdtnsl screed £==£& 


Farther information; BBL Investment: Info 
Q 32/2/451 33 40 

Monday through Saturday 7am—* 10pm 



7KENDLOGIC diversified program 
Value dS 1000 erased since October 1st. 199« 



the F-md asarjged fcj i7E»i2LCG:C 
ASSOCWIE5 INC m Cieer.wi* C«>- 
reacn. caned sains W Sefcesber 

!k ;wareJhasaps*=ared=*«rlS^ 

saoe iher The Rstd » exp«sed to 
mass fc* perfcsnance cf the Trerd- 
Log: : Xi-erstfied Program a 
ued rafttiu23! model i-CKpcrai- 
s^bech leng^erm seed SoSsaing *ri 
sh^i-:«tr. setaubr, s-.wianro T?e 
PrztTKi: trades a cjvervred pcr!cic 
d os wottdwide eammocr-,-. fearsal 
acts ci-tacy cixiels to JCcber -I 
iWc. rhe adwsor ro!.nad 3 pTSfaT, 
to better 6sBc» trends as #*? tr reserv- 
ed r-ems^ros ard to br-* - sderi 


■jr to 

*b » «r - ' " 

agami and take advantage of thewliK 
nb^ so ctrratert in miricU Wdav 
Sir« *« Implemotfattoft of -these 
enbatKemen. the Tfewftofie Obw-. 
sdted Pragmm has returned ooer 74% 
TSENDtOGlC INTERNATIONAL FVND. 
LTD charges a ia«ag«iw* tee e< T% 
ard an ncenwe lee cf 3ff\ el net new 
pmfca. The Fund is quoted in USdol- 
\ai s and opens for s absctt ptl on and re- 
{Jrrrpuonai the end of each month 

Fresher mfmre e rtra i cm he n bto te e d 
from the A dai la htrem r 

arco FOND SERVKES fantACAO^ N.V, 
Tefc ISVMI TOIOO* F«K t*»Ml 7323MI 


GLOBAL ASSET MANAGEMENT 

HAVE YOUR JAPAN INVESTMENTS GROWN 
BY 139% IN S YEARS? 

GAM Tokyo is the top performing of all 112 “Offshore Japan 
Equity" funds since launch in March 1992. having provided investors 
with a total return of 1 14% in Deutsche marks. Over the same 
period the Tokyo Stock Exchange Index (in DM I rose by 18. 12 a o.* 


CHINA FUND 


Ctnrwxowb f 1-cjM CJ-arvr 






Your Global 
Investment Partner 

in ASIA 



J.B. Japanese Equity Fund 


INVESCO Premier Select 


Zens: m Japanese equities 
through anrre awtual turd 
ctferad by fylke Trots; 
Icienutrowl and cent sic 
madKt pouikiilus or rerorr. 
«nth jcnrintai jittec-dup 


The key in the Fund's success hos been 
a highly select!'- e approach (*• stock 
picking. The manager has axoided 
poorly performing sectors li.e (he 
hanksi. has hedged tbe yen during 
perioic of currency weakness and has 
recently concer.nated on companies 
«* hath ha* e been bene!i:ing from yen 
weafcmsand deregulation. 


\XTth the Japanese market dour more 
than .*«**<> frost its peak is ami 
masy Japanese shares w> enroctixelx 
valued. **c believe that GAM Tokyo 
offers excellent prospects for in* estots 
over the medium tens, enhanced by a 
broadening economic recovery 
Selectivity will, however, continue to 
be tbe key lo succas 


Forfd IntormaiiooiMiGAM Tekyo.piesHei«a«iiiMGAM dteurServfcts dcfiariuMDi 
u 080041942^ (IK caitenaai* I ar-MJ 1624 632 TTJiUueraaliociatcrileni. AIMmtvd). 
And m aa toe lattrad ■! : w w«.ahiii(d.gaBa^aa far foO Ueuilf ofoar Ibad* ter Europcn 
and UK Imcstrev . _ _ 

GAM 

* Mui-ya: •• , .Lvp MM !>M. I'.'tt *.« rcr-. cwrt. n! GSM ZmU ih»r. n ■ Aj(UI 

•** V {s.iViaur, c DM 

>*.UM.-‘Krnnii<»:vtrcnii«ui>ei!KS!rifcmaiGAMI<>k>eFanfecii»bvm»cfatmcc3«lv sta,> * 

aOiilitawFatiiBa.r.aiekCn^r.V.iaxicarafaL'iBCiiiiniKibcFttibaincxiieca 
•»ac-nMP3»Tia;jUT3Bfc™» x » l!»irsr>r-eac=ipljaM*Ka5ninnbn.'a»i'xil»re>i« 
cwernnc VeaeaP ovga SidrearaicnajoJ lOtXteSnMMtoitamicDgtar 
pjqxl-iu ••* viols. (U-fai^ue 'in^BTO lend iTgUtnl w. iMfcli 


The Guinness Right China Fund has produced a 
performance of 148% over the last year, 
underlining the investment potential of China's 
developing equity markets and Guinness Flight's 
Asian investment expertise. 

For further information, please contact our 
Investor Services Department in Guernsey on: 


+44 (0)1481 712176 


Internet: www.guinness-flight.com 

Pm partoonaoca la run n a raaiarl , .gala to Iw tIMa ncUMiinOiaMiWDl 
t« nnW|pg na » 1 *M and Dm neon* tm flam and csyan^n m irtarwl M 
Mchxnga tatu mean «iai tha Min'oi Ms tunman i and flw n wre flam n can la* 
re am* re itre and an not 0 «rani aad. irrvsitcn' aUanflen ia Omi to toa tact that 
pcidte. martial and M tfcmreit iMks in Oimo are a^n Jca nflir taoliar Bon <n more 
darelopadnMa 1 iow.arti 6 Kaoc a »aiflnB.refli*aio>ymdla 9 d»WrdBro» am al^flfcaretr 
toamr. Tha Ounnrea FtpM CMna Piare if a aufl told at Guaaiaaa fV^C Salact Flare* 
Put. Moafnun kmunant CU 0 MJS S3L0O0. For yotf nuliaunn Ml a*c a ca*a may 
Da m ua dad. bauad by Gtfnnare Hfll Hanaro toat Maiapaman LfcMau. rapfawd 
by WRO and Tha ftnonal fewaatmaM Aulhonty. XSV97 



AN \ Til'd R 
GROWTH HM) 


+133 


CRi\HR(HINA 
nmsii viifsit-M) 


+70 


t-^ai 

jm-, 

: *frr .--i u -a- t 

— d>r nr 

] ' -i a’#*™— 

. "■» *v<r- ror-Hr a 
a.- or; try air 


Coreaci n nca fc -tad aa' ira-r. 


r:.a.. 

■f.- r -t i-it am 

t Tvrt- .V(W* 
rt -m 


-s -..l-:; -*a »: f-. .- >-. »w. 

v.vj»- . •?•.*■. j- - , m ■;.- : i .* 

•». :«r-cr?.- «■—.«, ; Ovy.* 

> .,.va».,t®<. A— jr-r-a--. V.aa.-.v-i- 4’ r 

aa, — — - - a -a- -a.*-*..a» »,t. a T*» "V 

.. f— — T.-l -y,— . - 3. T- ■ MX. -*mr- 

a.-' a f i- *• «• • — ‘ • -ta- 3 -a s-.—- 

.-•r» amrca-L-ra,. ■ojraa-aa- A- jit lit VW.1VTD 

re ;-s_- a, -r- --ar,r» rreia-rji as 

je~- »r r-—. - %.*VC *.<r - -t .-ae > S 



Japanese equities are expected 
to perform we3 c.-n thv 
rrtrang y-eirs The 
idlaana; azcuaut*=:e» 
poo*- encreds *n upward 
mend. 

* Lm'jpreuae iaUi6t 

rant. fH, % :-oialK- 

fartitegnxmdfre 
nsatg eqtury pores 

* Ufinroe e^ciry onto 
hr.v trercr beer lotccr 

to iur mittiicis and 
-4 >p*nesc share cide* - the 
Nikkei irio - is airrer.Uv at ibr 
l ,J sr ievri 

* "*p mese tcirpany earnings are 

Thrrecesln 

>i » syifitanffy ^proved 
tdirtenrv 



In addi Don. the yen is lore 
compared wuh'US4uUan 

and the European 

c u rrenOro 


Jyske Invest 

• a * mmwd fend group 
whW» ts tulte oKued by 
itsusvntorx - 

• iru (subtotal ml W 
*1 tkc iutictree of Jyske 
Bank, with whom Jy ske 
Invest cooperates doseh; 

• ufirts* tride rang* rt 
investment pnaMibes 
deigned tommeur 
nrobd ditfrinit 
mpareaente 4 nuI object 
■kteriawtanan. 

B you arish to know more 
about thr J.B. Japtone 

Equity Fund md other 
rovesiamit sdoitom offered t 
Invest, please wnta or ptaK i 
Jvske bank 

New Custom* Department 
tkstnbiogadcS.DK-CMCopadiagntV 
TeL ♦« 3J » ^ULfro *4533787811 
Internet bdjn.7msnc Jyskc^aoLdk, 
fpkidBiot 


JYSKE INVEST 


. setivr tonaintenr the easy way 

■ »n«be« flj na 3M> toMI Sremasy bflto TO» * “ ■ 
1 -St^areD- irwiaicSJreocreai nUSantoaM Dm 


■adiflaanaaoBBid 


tototfliflEttore i—ui— **1» ieWfl»a iiimm ia 


MAGNUM FUNDS jS 

The Proof is in The Results 

Magnum designs funds of funds - combinations of hedge 
funds - that seek more stable long-term returns than 
individual funds. But while seeking stability. Magnum funds 
have in some cases also outperformed the entire 
universe of funds in their categories. 

Consider these recent results: 

Magnum Capital Growth Fund 
Ranked ELOffshore Global 
Equity Fund Jn the World by the 
Wall Street Journal Europe and 
Asia for 12-month Period 
through April 4, 1997. (Up 
59.7% for year.) 


Magnum U.S. Equity Fund 
Ranked #1_ Multifund in the 
Mterifl- With a_U.S. Geographic 


Concentration for Calendar 
Year 1996 . and again for 12 
months ending July 1997. by 



Upper Analytical Services. (Up 
42% for 1 996 - double the S&P 
500 Index.) 

For more information, fax Dion Friedland at 
Magnum (Bahamas) at 1-242-356-6640 or visit our 
web site at .www.magnumfund.com 


Perpetual THE FUND RANGE 


Fond 

Launch 

Date 

%Change 

Standarti& 
Poods Fund 
Research 

Rating 7 

Stece 

Launch 

5 Years 

IntamaWma) Growth 

25.1.83 

+6B24 

+101.6 

AA 

Emerging Compentes 

8.4.65 

♦783.7 

+139.5 

AA 

American Growth 

21.4.8* 

+1335.3 

+144.3 

AA 

Latin American Growth 

31.1.95 

*56.1 

— 

— 

Far Eastern Growth 

a.ti*e 

+40B3 

+130.3 

AAA 

Japanese Growth 

30.11.91 

+9.0 

. +15.4 

— 

Asian Smaller Maikets 

B553 

+87.6 

— 

AA 

UK Growth 

24,1057 

+400.4 

+144.7 

AAA 

European Growth 

8.11.86 

+2S6.6 

+112.9 

- 


General information on Perpetual fund 
Management (jersey) limited 

• Otters 9 otfshtxe equity funds Investing worldwide 

fMiniffium Investment; US$2000) 

• Since launch, 7 funds have achieved top quartile performance 

• Over the last fiwa years. 4 w/t of 7 funda haw achwed fop 
quartile performance 

• Offshore Portfolio Management Service, based on fund range, 
afeo available {Minimum investment; US$1 50,0001 

AH MKtiti aro to is> Sepfwrtfwr I&ur. 01 an tffer-ftMrfar. us Ow oasfe 
njwfrg /mated ncarne. n& Ct >nMKXtog a»0S gw** Mtaopaq 
t Sionavoi Ptxr\ Fund Research s a badng atjscondom gjaKgavo rosogroi 
centtvn 77iefac Snnaarui Pwrt Fit*} Pes*an?> raviQ a AAA 

FV h«tw tolormatwn please 'phone our CuKomr Sendees Departmam on 
+44 [0)1 334 807S60. w send us a fatten *44 (0)1534 38318. 


aw 


13 


Momentum 

AilWeather 


Absolute returns 
Non-correlated 


Low volatility 
Diversified 


In the 26 months sines Momentuncfeated AllWe^her 
the performance to 31 July 1997 is : 



Outstanding European Foyi iy Gains 


N o ciobal orestor can aSbtd to aiss the oppontmiws coke! to Esspe 
- and rrfto better to invest enth ihaa Old Ntaual L-gen a nc . - a t Owrftt 
past five years our Tafue-onentaied srockpkktag approach has bees 
consisKmJy mraided - making us Number toe ia the se=cr aesriit® so 
independent Money Management statistics. 

. tbe European Stodtmarte Aind a pan of oar extensive range cf ofiha-e 
equity’ bond, managed and deposit toads, bdffitng the needs of a broad 
spectromofirmarao-trao the rather adventnoui to thetnoKridrateoe. 

AD ibo vmh the added seauky of in vesting with Old Mutual, one of the 
vrorirTs rap Sr assurers. Estabtehe d ia 1845. Old Mutual maddwide now 
manage assets in oust ofOS«5 bAoa. 

Id find out Btore. s&nffr coopte and vetura the response awpon. 
Comprehensive Outperfarmence s««MkrereL 

WrfSkrilVinrtt 
MvMai0VmB4to 
auwT.TVtopr 

AflUMKOH 


TOP PERFORMING FUNDS 
ADMINISTERED BY OLYMPIA CAPITAL 
INTERNATIONAL INC. 

Olympia Capital International, an independent third-party 
offshore administrator, values mote than 100 offshore enti- 
ties across a broad array of investment disciplines. A selec- 
tion of funds is outlined below. 


MOMENTUM 

ASSET MANAGEMENT 


BULL OR BEAR, WE D0NT CARE 



tV OLi> MtiTL AL 
-•*- !NT1KS\IH>\.' 


11 


r 


The international 
equity investment 
with few equals. 


~l 


Fuud/Manager 


Anmulized % Positive 
investmeni Return Months 
Category to 31/07/97 Std-Dev. 


Finsbury Group Limbed US High Yield 16 l 51% B3J4te 

Shenkman Capital MgniL Debt (from 31/12/90) 6J6 

Forest Fnkrum limited US Convcnibfc 1650% 97.14% 

Forest (motmetit MgmL Arbitrage (from 1/07/94) 4J4 


The Merger Fuad’: 
Green & Smith 
Capital Mgmt. 


US Equity/ 
Merger 
Arbitrage 


PatCOStockB" - Series* Stock Index 
Jbdfic investment MgniL Tracking 


15.08% 

(firm Ml/96 ) 


6IJ7% 

(from 31/12/96) 


2j61 


85.71% 

1659 




Since 1933, Robeco NV has app reared regularly in 
the top rank of global equity investment companies. 
We o ffer the investor: 

■ An internatioiul blue-chip portfolio, diversified 
over industries and markets. 

• An even balance of dividend income and espial growth. 

■ Instant liquidity as u shares are traded daily. 

• Over 60 years of investment expertise. 

• Assets under management of USS 6 billion. 

For details, on Robeco NV please contact Robeco Bank 
by circling the appropriate Reader Reply Cud number. 


Ibtal return In KL6 (Dividends INIni flirt) 


HPi SOGELUX FUND 

* EQUITIES INTERNATIONAL GROWTH 


Net Asset Value per share evolution 

(Basa 100 srartlns Ported) August si. 1B82 to August 29, 19S7 (Currency: usd) 


’ SGLUX EQUITIES NTER GROWTH 


i IISWORLD 




I 

I 



Jan 94 


Janes 


Jan 96 Jan 97 


Dscfl Dec 92 D«e93 Dk94 DkK DmN 

■ — Refcrco -- MSaWbrM lintel 


..UntE«80««C-> ;: - 



The Soaete OenfflOfi Croup launched the first French SICAV in 1964 
and manages today more than USD 68 billion in over thirty finandal 
market place? WOricJvvrdP/ on bdialf of private investor? and institutions. 

Since 1987. the Societti Gdndrale Group has been offering a 
Luxembourg based mutual fund. SCiGELUX FUND, todav composed of 
33 compartments with a total NAV of about USD 9JG million. 

SOGELUX FUND includes- 

- 18 equity compattmtsits speoalued in Norm America. Europe; 
Japan. International Growth, Cold Mines, France, Germany, Dabl 
Spain, Switzerland, Pacific, UK, China, Emerging Asia! Latin 
Atneriot, Wtorid. Indian Subcontinent, Eastern Europe. 

- 10 bond compartments specialized in countries or geographic areas 
flJSA, Japan. Europe, Germami France, UK. Switzerland, Spain. 
Italy, Woridl denominated in the correspondine curranaes 

- S aidnev market compartments: USA, Europe. Germany. France. 
Italy 

Two compartments have been launched on April 23. 199, • 

Equities - Indian Subcontinent and Equities - Eastern Europe. 

SOGELUX FUND - EQUITIES INTERNATIONAL GROWTH 
OUTPERFORMED ITS BENCHMARK OVER A PERIOD OF FIVE 
YEARS (CF. GRAPH). J5 


WitoArecre Coowtible C/SGwwmfcfc 19.64*, gy.^qt, 

W- Debt (frm 31/1200) b35 

Oak uiee Capital Mgmt. 

The manure, of tfaeee fend, hove US. finxfe empWtog iubitwdafly 

^ *** 1990 & Smith) 

and lw (PtMCO). re^ectjvdr. 

For further inforraarion contact Anne-Marie da Silva at 
Olympia Capital International’s Bermuda office, 
at 01 (441) 298-5007 or via fax at 01 (441) 295-2305. 

Mail this coupon or send fax to: ™ ™ 
Julian Staples, International Herald Tribune 
63, Long Acre 

London WC2E 9JH, United Kingdom 
Fax: (44-171) 240-3417 
or e-mail your request to: JSTAPLES@lHT.CO 

Please send me information on the funds 
circled at no cost or obligation. 


1 2 

6 7 

11 12 


3 

8 

13 


4 

9 

14 


5 

10 

15 


Name. 


Title (i.e. Mr, Mrs or Ms). 
Initiate 


Nationality. 
Company_ 
Position 
Address. 
City. 



mT 13/9, 


i 





>J/| Ie, WEDNESDAY, SEPTEMBER 24» 1997 


PAGE 3' 


INTERNATIONAL 


HERALD TRIBUNE, SATURP.4Y-SUNPAY, SEPTEMBER 13-14, 1997 


PAGE 19. 


n« MONBY REPORT 



A Money Manager That Worries About How Well Its Clients Sleep 

J nf rhose: Electrolux AB, the Hudson Corp. and J.C. Penney Co.. iS? 


T HE BEST WAY to make lots of 
money in a market like the one 
we have had for the past three 
years is to pour everything you 
have into fast-growing stocks. 

But high growth" almost always 
comes with high risk, a concepi which, 
in market terms, is usually defined as 
volatility — the extremes of an in- 
vestment’s ups and downs. We have 
had a lot of that son of thing lately, even 
within single trading days. 

Volatility diminishes over time — 
10 years and more — so if you can stay 
on the roller coaster all through the wild 
■ peaks and valleys, you'll do very well. 
But can you? 

In less than two months, with the 
economy humming and inflation 
nowhere in sight. Gillette Co., one of 
the world’s great corporations, fell 
from $105 a share to $79. There is no 
reason, based on its high price -ro-eam- 
ings ratio, that it will not fall farther. 
(Of course, it could also rally to 
$150.1 

Investors who can stand such risk are 
disciplined folks. They do not watch 
the daily prices; they keep their eyes on 
the horizon. 


But what- .about the rest of us? The 
best way to reduce risk (and anxiety) is 
through a diversified international 
portfolio that combines stocks and 
bonds. 

Short- and intermediate-term bonds 
are less risky than stocks, and different 
asset classes from different parts of the 
world often balance each other out. 

A firm that epitomizes this style of 
limiied-risk investing is Sanford C. 
Bernstein & Co. in New York, which 
manages $69 billion for its clients, 
mainly affluent individuals. The firm 
also runs mutual funds for the public, 
including excellent ones like Bernstein 
International Value and bond funds. 
The funds have no load but require a 
$25,000 minimum investment. 

Bernstein has a clear philosophy: 
“maximizing after-tax return at a con- 
trolled risk level.” Bernstein is also a 
value house. It favors companies that are 
underpriced, shunned by investors, and 
it is willing to wail for them to rise. 

* ‘Stock prices are unpredictable in the 
short term,” says an article in the latest 
issue of Global Investment Strategies, 
the firm's quarterly publication for cli- 
ents, “but, historically, (prices) have 


been increasingly predictable over tune. 
To borrow from master investor Ben- 
jamin Graham, stock markets are voting 
machines in the short run. weighing 
machines in the long run.” 

In other words, in the short tenn, tne 
crowd's enthusiasm lor pessimism) 
can distort the price of a stock, but in 
the long term, it’s true worth will be 
reflected in that price. 

What does the firm think about the 


Some of those: Electrolux AB. the 
Swedish appliance gianr. Vallourec 
SA. a -French steel-tube maker, and 
Sarapo Insurance Co. of Finland. 

Bernstein also is fond of Japanese 
companies, especially diose “ibatcaier 
to the home market,’ such as West 
Japan Railway Co., the country s 
second-largest private railroad, and 
several Coca-Cola bottlers. 

Another Bernstein value story is 


’n his exhaustive study of investing 
strategy. "What Worics on Wall 


that pay high dividends as a percentage 
of their price — returned 1 3 percent but 
i i . itmiiniinn rtf mil 1*7 OCT- 


OI meu putt — *- f 

had a standard deviation ot jusi 17 per- 
cent, meaning that in two- thirds of the 
years returns ranged between minus-4 
percent and plus-30 percent. 

The best wav to find low-risk stocks, 
however, is by studving them one by 
one to find good values, always keep- 
ing such measures as low P/E and low 
p/B in mind. , 

But what interests me more than 
Bernstein’s picks ofstocks is the us 
views on bonds. The firm likes (hem for 
portfolios because they provide con- 
sistent income with low risk a 
steadying influence.’ And they re es- 
pecially beneficial right now. 

"It mav seem implausible, said an 
article in the Bernstein newsletter ‘ Thai 
a Treasury bond yielding 6.5 percent 
can compete favorably with stocks for 
future return potential, but that is bow 
we computed ii at mid-year 
when the firm came up with a projection 
of just 5.3 percent growth for stocks. 

The Washington Post 


JAMES CLASSMAN ON INVESTlNQ_ 


current market? It's especially risky. In 
late Julv. with stocks roaring ahead. 
talked with Roger Hertog, Bernstein s 
intense, bow-tied CEO. in bis Fifth 
Avenue office. "Things can continue 
for a very long time as they are. he 
said, "but if something . goes wrong, 
you'll pay a big penalty.” 

With that sensible outlook in mind. 
Bernstein steers its clients into a mix of 
IJ S value stocks, international gov- 
ernment bonds, and non-American 
stocks — especially companies that are 
undergoing corporate restructuring. 


Daewoo Corp.. the Korean manufac- 
turing, construction and trading con- 
glomerate with $28 billion in sales. 

Bernstein does not think much of the 

U S stock market as a whole. The 
fern's current estimate is a 5.3 percent 
annual return. Of course, that does not 
mean it has not found some underpriced 
companies that should do better. 

Those stocks are mainly m tech- 
nology, ntiUty.' insurance and retwl sec- 
tor. Among them: PG&E Cbrp-. 
American Electric Power Co., Chubb 
Corp. . Quantum Corp. . and Dayton- 


JL Street,” James P. O’Shaugnessy 
analyzed risk as well, focusing on a 
measure called standard deviation — 
or how much a stock's annual return 
varied from its average return. 

The most risky strategies were buy- 
ing stocks that had been moving 
strongly in the past year, stocks with 
high price-to-earaings and high pnce- 
ro- book-value ratios. The latter mea- 
sures the stock price compared with the 
value of a company's assets as earned 
on its balance sheet 

The idea of buying stocks that have 
been rising, known as the high-relative- 
strength strategy, produced an average 
annual return of 14 percent from 1954 to 
1994, but its standard deviation was 30 
percent, meaning that in rwo-thirds of 
the years returns varied between mmus- 
16 percent and plus-54 percent. Thans a 
lot of volatility. Stocks with high pnee- 
to-eamings ratios had an even worse 
combination of return (8 percent) and 
risk (standard deviation of 27 percent). 

By contrast, high yield stocks — ones 


For further information, call: 

SANFORD BERNSTEIN & CO.. I 212 VAMfO. 



BRIEFCASE 


For Lehman Bros., 
Europe Too Volatile 


High volatility in European 
stock markets is worrying 
strategists at Lehman Broth- 
ers Inc. They note in a report 
that "periods of above-aver- 
age volatility in the past have 
been associated with below- 
average forward returns.” 

How volatile has it been? In 
the last 12 years. Dutch stocks 
have had daily moves of 3 


transport operators would not 
immediately be able to pass 
on the oil-price rise, slowing 
truck sales in the next few 
months. It said the steel and 
cement industries were likely 
to be affected by the increase 
in freight costs. (Reuters) 


Fidelity said it was is boosting 
the fee' for cost reasons. 

( Bloomberg ) 


An Emerging Market That Took a Wrong Turn 

tm-syK-ffsararassa 


company aim mey u c uui — 

Bv Philip Segal 12 tol5 months. Expansion plans are all oc i ho d 

gy ramp ^ ith the exception ofBritish Oxygen, said Abdul 

■MAGINE IF, suddenly, eyejyone m Bri^ d^SSJr State speed [up sales 

and France, down to university swdenK.began 1 * f s ^ e _ owne d industries. The pre- 

to invest every spare pound or tone on tire ^^“ ernmen t, which was voted out last year, 

market. Then imagine if. just as sud- vious g ct la . tHt - comoames m three 


Hong Kong Weighs 
Small-Firm Bourse 


More Cash Assets 
For Robeco Funds 


percent once every six months. 
There were six such days in the 

. L r s 



month through Sept. 5. b 

"When a normally stable r 
and steady performer such as c 
the Dutch market starts to re- c 
cord daily moves of 3 percent- r 
plus with the regularity of an \ 
emerging market, one instinct- I 
: iveiy feels that something is : 
i up," said the strategists, lan 
Scott and Joe Rooney. < 

That something, they be- ] 
lieve. is not just the weather, j 
While share prices can be i 

more erratic in summer, when ] 

traders are away and activity i 
is thin, volatility on Conti- i 
nentol European bourses has i 

risen 'steadily' through the ' 

year, they point out. I 

' They are not sure what is , 
causing this, but they are sure 
they do not like it. A studyof 
more than eight years of trad- 
ing activity’ on five major 
European exchanges found 
that six-month periods ot 
greater daily volatility' tend to 
be followed by weaker returns 
in the next six months, volat- 
ility' reflects uncertainty they 
said, and this compels in- 
vestors to demand greater 
value when buying shares. 

The strategists’ solution 
was to spurn the Continent tor 
Britain. The macroeconomic 

V environment is more favor- 
able there, and stocks are 
more reasonably priced, they 
said. In addition, the report 
said: "UJC. volatility has in- 
creased but is only just above 
average. This pattern oi 
■highly volatile markets in 
Continental Europe, with a 
much more subdued pattern 

in the U.K., simply reinforces 

the valuation case. (*n 1 > 


The Robeco Group of in- 
vestment funds is partly wiih- 
drawing investments in 
stocks "and bonds and will 
hold pan of its assets under 
management in cash due to 
concerns over a deterioration 
of the situation on capital 
markets, a Robeco official 
was quoted as saying in the 
Dutch financial dally Het Fin- 
ancieele Dagblad. 

Robeco decided at a recent 
meeting of its investment 
policy committee to hold 5 
percent of capital now inves- 
ted in stocks in cash and 2.5 
percent of its mixed funds in 
cash, the Amsterdam paper 
reported. Robeco’s total in- 
vested capital in these funds 
was 26.9 biffion ‘ gulden 
(SI 3.2 billion) at the end of 
June, it said. . . I 

While investments m 
' stocks and bonds will be re- 
duced, real estate will be giv- 
en a higher priority, with the 
value of property investments 
in its mixed funds to be raised 
to 12.5 percent from 10 per- 
cent. while holdings in stocks 
and fixed-interest sec urines 
will be reduced by 2.5 percent 
io 27.5- percent and 473 per- 
cent, respectively , it reported- 
(Am A J 


The Hong Kong Stock Ex- 
change may set up a venture 
board stock exchange to in- 
crease access to public capital 
through equity listings by 
small-io-medium companies, 
Hong Kong’s financial sec- 
retary, Donald Tsang, said 
after returning from an offi- 
cial visit to China this week. 

The exchange could also 
provide a listing avenue for 
hieh-technology companies. 
As an alternative trading for- 
um, the venture board would 
be likely to have less stringent 
listing requirements than 
those set bv the stock ex- 
change. Mr. Tsang said that 
the exchange proposal was 
being examined by the Se- 
curities and Futures Commis- 
sion. , Bridge News) 


succlbmg .O labor press** and 


denly, they an tnea io m. uk. - - - 

all investment bubbles, stocks would soar to dizzy- 
ing heights in a matter of weeks, then P lun j£- 
That is what happened last year in Bangladesh, 
whose population of 1 20 million is pater than that 
of Britain and France combined. When it was hot. 
the market was the world's top performer, as the 
Dhaka Stock Exchange Index rose to 'more > than 

3 600 in early October from less than 1.000 a tew 
i mit when 


was able to sen on juai ** ****“■ - — r . 

years, often succumbing to labor pressure and 
resistance within the administration. 

The cost of such delays is staggering Over the 
past 21 years, the accumulated losses in the public 

sector are estimated at $10 billion. 

The waste carries over into the banking sector* 
which the governor of the central bank said in April 

was in H ang er of collapse. Private- sector banks 
Wdb m u«uys r Tvrrent earlier this 


3,600 in early October from less than 1.^ a few ^48 earlier this 

months earlier. Then, the banonr feU out h loans going to un viable state- 

inexperienced investors were left holding stocks « year, ^ Big com pames are also m de- 

ridiculously high valuations. The index is no fau i^, ut fte central bank governor says that banks 
mired back below 900 . battling to recover money are fighting a losing 

Sadly for Bangladesh, its stocks are poised to go because defaulting on debt is a civil, not a 

nowhere. The co^’ L — en, en = em pmceediugs agams. 


nowhere' Thecountry’s investment environment against 

appears to be on hold, beset by a stranglehold of cnmnaL ^ ^ ^ 

reflations, inefficient state monopolies, high as all of this sounds, things have un- 

rc °r “jit! ' a rom, rtf ibp most pervasive cor- As baa as an w tu; c year's 


ref^tions, inefficient state monopolies, high im- im- 
port tariffs and some of the most pervasive cor- A* tothe country. This year’s 

ruption anywhere in the world, according to Tran pro ^ ^ corporate tax rate for most financial 
parency International. and insurance institutions to 40 percent from 45 

H Fund managers agree that while there may be ® and import duties have come down to 45 
time in the next few yearn to JgjC a Sop m of 350 percent five year, 

again, that time is not now. You speax iu ouy r 


ago. The current-account deficit shrank to 3-4per- ■ 
Moi of gross domestic product last year from 5 . 

P ^ff5£Xb that have a — 
invest in Bangladesh at all is Regent Pacific s $-3 
Sn opSded Mogul Fund. The tod'tcnr- . 
re nt weighting in Bangladesh, however, z 
according to fund manager Cohn 

For the truly bullish, there is the $25 mittion 
Dublin-listed, closed-end Indosuez Banglad ■ 
Fund run bv lyaz Ibrahim. Yet even he advises 
against rushing in just now. The market will be - 

weak for some time io come, he forecast. 

He remains mildly optimistic about Bangladeshi 
eamhSSrecasting ^owth of 12 percent a year 
trading at about 15 Limes earnings, he 
SeT but only because two stocks - 
Bangbdesh Tobacco and engineering ernn^ny 
Sin^r Bangladesh — skew the average. In reality, 
the broader-based price-earnings ratio is between , 

Indosuez fund likes hidude phar- 
maceutical firms Square and Bexunco. which ^ ■ 
Ibrahim figures are bound to grow on die basis of 
local demand alone. The growing incomes of 145 
million, mostly very poor people will see to that. 

For further information, call: 

[ • REGENT PACIFIC MOGUL FUND. 44 171 M60007. 

5 m INDOSUEZ B ANCLADESH FUND. #S2 J8M 


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Fidelity to Raise 
Its Network Fees 


Merrill LynohDown 
On Bombay Stocks 


' Merrill Lynch has lowered 

hs forecast for ^ 

ines-per-sbare grow* of the 
- 30 companies that form & 

A Lmba7sr<^Efhaog e , 0 m 4 

dex to 15 percent from -U.4 

pe jhe L firm said it 
the steel cement and auto- 
mobile sectors to account for 
large downgrades. The for 

Ss S « were included inacoun- 

try report that was compfled “j 
SlSoration with 
affiliate', DSP MertiU Lynch- 
• The report was written fol- 
lowing me Indian govera^ 

ment’s decision on SepL . l to 
raise domestic pemle™ 
product pnees. Merrill saio 
fuel-price increase would 
affect many inUoanttJ* 
benefits for die oil sector, u 
expects oil stocks to gaui 10 
^ percent to 15 perc 6 ® ' ■ six 

| Stiative is announced^ six 

weeks that aims to dismantle 
en India’s sluggish econom. , 


Fidelity Investments is 
planning to raise the fees it 
charges" some compames that 
sell mutual funds through its 
FundsNetwoTk service. 

The increase will aftect 
less than half the more than 
100 companies that now pay 
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via Fidelity's mutual fund su- 

Pe jn January, Fidelity said it 
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companies to a flat 35 cents 
per S100. The increase wUl 


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PAGE 20 


Sports 


SATURDAy-SUNDAY. SEPTEMBER 13-14 , Wfl ! 


World Roundup 


He’d Raise a Bunion on Their Spanish Onion 


Changes 


. CYCLING The Tour of Spain yel- 
low jersey changed hands yet again 
. on Friday when Switzerland’ 8 
■ Lament Dufaux took over as race 
leader after a day of surprises. 

The overnight leader, Laurent 
Jalabert of France, cracked dramat- 
. icaiiy on the Sierra Madrc to finish 
more fo an 8 minutes behind the 
stage-winner, Yvon Ledanois of 
France, 

It meant that in 24 hours Jalabert, 

. the 1995 winner, had slipped from 
race favorite to also-ran. Another 
big name, Abraham Oiano of 
Spain, retired from the Tour after 
racing only 83 of the 219.2 ki- 
lometers. (Reuters) 

A Victory for Youth 

tennis Anna Koumikova and 
Miljana Lade have scored a victory 
off the court. Under changes in the 
Age Eligibility Rule announced by 
the Corel WTA Torn, the 16-year- 
old Koumikova will be allowed to 
play up to 18 tournaments, while 
Lucie, 15, will be able to play up to 
13 events. Both Koumikova of 
Russia and Lucic of Croatia had 
com plaine d that the old rules, 
which restricted the number of 
tournaments they could play, in- 
hibited their growth as professional 
players. (AP) 

• Greg Rusedski, with a 
quarter final victory Friday over Lu- 
cas Arnold of Argentina in the 
Samsung clay-court tournament in 
Bournemouth, England, guaran- 
teed himself of becoming the first 
British player to reach the sport's 
top 10. (AP) 

Were Lions Underpaid? 

rugby The British Lions were 
underpaid for their historic series 
victory over South Africa, in June 
and July, according to their Scottish 
coach, Ian McGeechan. In a new 
book, McGeechan says die players 
should have earned £30,000 
(546,100) each for only the second 
Lions series triumph in South 
Africa this century — doable the 
money they made. ( Reuters ) 

• Sydney City knocked Gold 
Coast out of the Australian Rugby 
League semifinals on Friday, win- 
ning by 32-10. (AFP) 

Tax Inquiry for Toxnba 

skiing Alberto Toxnba will be 
questioned shortly in connection 
with a police investigation into his 
income tax payments, an Italian 
magistrate said Friday. The Italian 
finance police are hying lo estab- 
lish whether the triple Olympic 
champion paid sufficient income 
on earnings from sponsorship deals 
from 1989 to 1995. (Reuters) 

Fittipaldi Has Surgery 

AUTO RACING The two-time 
Formula One world champion 
Emerson Fittipaldi was expected to 
make a fuQ recovery after under- 
going spinal surgery to repair in- 
juries suffered in a ultralight plane 
crash last Sunday in BraziL His 
doctors said the 50-y ear-old Fit- 
tipaldi was awake and able to move 
his limbs shortly after the five-hour 
surgical procedure. (Reuters) 


International Harold Tribune 

L ONDON— If he were American, 

Miguel Angel Martin would have 
hired a lawyer, who then would 
have hired a media consultant, who then 
would have galled us all to death with 
pleadings about the wanton felonies be- 
ing committed upon his client. 

Martin is the Spanish golfer who 
suffered a wrist injury in July. Against 
his wishes he was kicked off the Euro- 
pean Ryder Cup team last week so that 
Jesper Pamevik of Sweden could take 
his place. 

When Martin threatened legal action, 
the Spanish nonplaying captain. Seve 
Ballesteros, called him “that little 
man.” 

If be were American, Marlin would 
have filed an injunction seeking to pre- 
vent the Ryder Cup from going on with- 
out him. 

If he were American, most of bis 
fellow Americans would probably say 
that he was indeed the victim of an 
injustice — he had earned his place cm 
the Iwm, be should be given the next 
two weeks to prove his fitness and let 
Pamevik accompany the team as an 
alternate. 

Because they are sensitive to the 
rights of the individual, no matter how 
wildly those rights have been exploited 
in recent years, Americans woold say 
that Martin was being cheated. 

Of course, if he were American, Mar- 
tin never would have qualified for the 
U.S. team in the first place. 

That is why the Americans are going 
to beat Europe at the end of the month in 


Vantage Point / iAwTwoMSKN 


Valderrama. The U.S. Tour has grown 
deeper and stronger in die last two years, 
and especially more charismatic: die 
EuropeanTonr just looks older and thin- 
ner. 

Two years ago the Europeans were 
the pick in these pages to upset the 
United States at Oak Hill in New York. 
Europe’s elder generation of Nick 
Faldo, fen Woosnam and Ballesteros 
still seemed vital then. 

A few years ago they were 
strengthened by the next wave of Colin 
Montgomerie and Jose Maria Olazabal 
(when healthy). 

But the new supplanting generation 
of Europeans in their 20s has yet to 
materialize. There are many good up- 
start Europeans but none of them is 
brash like the young Ballesteros or his 
modem equivalent. Tiger Woods. 

Maybe the new Europeans will make 
their grand entrance dramatically at 
Valderrama. More likely is that (here 
will be a major detour in the rivalry this 
month, that Woods, Justin Leonard and 
the other young Americans are going to 
become die dominant figures of the Ry- 
der Cup as surely as Ballesteros, Faldo 
and Bernhard Longer became that a 
dozen years ago. 

ON THE BRIGHT side, a loss in the 
Ryder Cup might finall y persuade the 
European Tour to pay attention to Faldo, 
Olazabal and Ernie Els, who have all 
demanded an im p rov e ment of golf 


anuses to evoke a higher standard of 
play. Montgomerie is respected univer- 
sally, but his competition is not After 
all, is Montgomerie really so great that 
he should be heading the European 
prize-winning list for a record fifth sea- 
son in a row? 

WHILE THE Americans are con- 
cluding their overthrow in Valderrama. 
a blatantly contentious preview of the 
2002 soccer World Cup will be under 
way as the co-hosts, Japan and South 
Korea, try to kick out each other’s 
ankles in qualifying for next summer's 
tournament in France. They will meet 
Sept. 28 in Japan and Nov. 1 in Korea. 
The pressure is on the Japanese to make 
it to these finals on merit before ac- 
cepting their automatic invitation for 
2002. They have never qualified for the 
World Cup, whereas Korea has made it 
to the finals four 

TWO FACTS about the current 
baseball season: (1) Mark McGwire tins 
week joined Babe Ruth as the only 
players to hit 50 home runs in back-to- 
back seasons. (2) For the first time ever, 
two players have each hit 50 botners in 
consecutive seasons: McGwire and Ken 
Griffey this year already: last year it was 
McGwire and Brady Anderson. 

ONE SURELY UNRELATED face 
Major League Baseball does not test for 
steroids or other muscle-building drugs. 


NOT SINCE John McEnroe’s glory 
has men’s tennis looked healthier — 
every continent bit Afric a and all kinds 
of personalities are represented by Pete 
Sampras, Michael Chang. Pat Rafter, 
Thomas Muster, Mareelo Rios, Gustavo 
Kuerten and so On- 
Now it’s up to the Tour itself to 
provide some order to the season and 
give these personalities the- chance to 
grate against each other. 

Cot buck the number of tournaments, 
give the season a beginning, middle and 
end, and make the ranking system uni- 
versally understandable by starting 
every player with zero points in Janu- 

aI ^GIve these actors a decent script and 
Sampras won’t seem drill any more. 

REP VAN WINKLE woke Up un- 
derneath a newspaper the other day, 
took one look at the small print and said, 
“Two British tennis players in the Top 
20? How long have I been napping?” 

RONALDO MAY HAVE caused a 
fuss between Barcelona and Inter Mi- 
lan. but at a salary of S3.7 million be 
remains a bargain. 

Nine NBA coaches — coaches! — 
will be earning at least as much this 
season. 

WELCOME BACK to Steffi Graf, 
who will return in November as her 
sport’s new version of Martina Nav- 
ratilova. She will be more popular than 
ever. 


Johnstone Leads; 
Shark Is in Pursuit 

The Associated Press 

SAINT-NOM-LA- 
BRETECHE, France — Greg Nor- 
man reclaimed center stage from 
Severiano Ballesteros at the in- 
come Trophy here 
Tony Johnstone of Zjnbabwe, 
wife a 65. edged clear of the field 

by a shot at the halfway pomi. 

Norman, on a rare visit to a 
European Tour event, shot a > 
under 66 and was tied for second 
wife a fellow Australian. Peter _ 
O’Malley, at 9-under at 133. . : 

Ballesteros struggled to a 73, 
after his virtuoso opening 65. 

Norman said that he “was hav- 
ing fun out there.” 



Greg Norman 


NFL Building Boo 



a New Stadium Can’t Do? 


By Leonard Shapiro 

Washington Post Service 


WASHINGTON — When Jack Kent 
Cooke Stadium opens Sunday, it will be 
the latest in a series of new facilities or 
major renovations in ament National 
Football League stadiums. Commis- 
sioner Paul Tagliabue often has said 
those are among the most important 
achievements of his eight-year tenure. 

“Building on our recent success in 
developing stadium partnerships be- 
tween NFL teams and their commu- 
nities is a major priority,” Mr. 
Tagliabue said in a recent league pub- 
lication. “Our goal is for all our teams to 
play in staie-of-the-art facilities in their 
existing markets.” 

To that end. the Redskins’ new play- 
ground is among IS new or renovated 
stadiums that have been either built 
since 1992 or approved through 2002. 

In the last two years, voters have 


approved new stadiums in seven NFL 
cities — Cinc innati (2000), Cleveland 
(1999). Detroit (date to be determined), 
Nashville (1999), Tampa (1998), San 
Francisco (2000) and Seattle (2002). 

In 1998. the Baltimore Ravens will 
open their new stadium at Camden 
Yards, and the New York Giants and 
Jets will be playing in a renovated Gi- 
ants Stadium, fee model on which fee 
Redskins based their new monument to 
their late owner. 

The NFL likes to emphasize fee so- 
called public-private partnerships it has 
tried to fashion for a number of stadium 
projects. The Redskins’ S180 million. 
80,1 16-seat stadium, for example, will 
be paid for almost entirely by the team, 
wife state and county government con- 
tributing another S70.5 million for roads 
and other infrastructure. 

Almost every deal has been different, 
some requiring voter approval, others 
requiring fans to help pay through bond 



John McnMarfl/Tht Wahi^ton I feat 

Jack Kent Cooke stadium, the Redskins’ new facility, will open Sunday. 


issues, sales tax revenue or the hottest 
’90s trend — personal seat licenses, first 
used to help finance fee new stadium in 
Charlotte, North Carolina. Under that 
system, fans must pay a fee above the 
regular cost of their season tickets, es- 
sentially leasing their seats for the long 
term. 

Mr. Cooke was opposed to seat li- 
censes and once described them as 
“bloody blackmail.” so such licenses are 
not used in the facility dedicated to him. 
The Baltimore owner. Ait Model!, on the 
other hand, will sell seal licenses to help 
finance that new stadium and his team's 
move from Cleveland two years ago. 

Why the stadium building boom over 
the past five years? Economics: A num- 
ber of teams, including the Redskins, 
were playing in aging facilities that 
could nor accommodate increasing de- 
mand for tickets, that were showing se- 
rious signs of wear and tear, and that did 
not have the revenue-producing capacity 
of newer stadiums equipped wife premi- 
um club seating and corporate suites. 

Team owners need fee money from 
those amenities fo pay team salaries, 
which have increased each year under 
fee collective bargaining agreement to a 
current cap of $4 1 million, and to attract 
free agents. 

“Today’s market requires teams to 
have the ability to give players large 
signing bonuses,” said Mark Richard- 
son, president of the Carolina Panthers. 

“That money bas to come from spon- 
sorships, signs. Stadium n aming rights, 
luxury suites, club seats, parting and 
concessions. Without those revenue 
streams you can’t keep your talent.” 

Television revenue and general ticket 
money is shared equally among NFL 
owners, so fee only way owners can get 
the edge on each other is by making 
more money from suites and club seats 
than the other guy. 


The Cincinnati Bengals, for example, 
could not buy top players because they 
were only earning $12 million from 
their stadium, compared to fee $50 mil- 
lion take tire Cowboys earn from Texas 
Stadium. Now, die beleaguered Bengals 
are getting a sew stadium. 

“If you didn't enhance your situ- 
ation, you weren’t just badoff, yon were 
worse ofL" said Marc Ganis. president 
of Chicago-based Sportscoxp Ltd. and a 
consultant on sports stadiums. 

Competition from new arenas for 
hockey and basketball and new stadi- 
ums for baseball also has been a factor, 
according to Roger Goodell, fee ex- 
ecutive vice president of fee NFL 
“There is always increasing compe- 


Korea and Emirates Prevail 


CoafCeitiOjrSsOFnmeDt^xadia 

SEOUL — A late goal by Lee 
Sang Yoon gave South Korea a crit- 
ical 2-1 victory over Uzbekistan in a 
Group B match in Asia’s final qual- 
ifying round for next year's World 
Ctrp finals in France. 

Oleg Shatskikh’s 74fe-minute 
equalizer had threatened to under- 
mine fee Korean hopes in the battle to 
win Group B and secure an automatic 
place for the finals. But Lee scored 
three minutes from time to keep up 
the Koreans’ unbeaten record. 

In Aba Dhabi, meanwhile, Zohair 
Bakhit scored one goal and set up 
another, leading fee United Arab 
Emirates to a <£0 rout over Kazak- 
stan. The Emirates, looking for only 
their second trip to the World Cup 
finals, jumped over Japan into 
second place in Group B on goal 
difference. (AFP, AP ) 



Renter, 


Park Kun Ha of South Korea 
heading ball against Uzbekistan. 


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Women Fly 

Karole Jensen and Jeanne Cook of the “Carolina Belle” crew are continuing 
the race in spite of a temperamen t al engine that has already broken down 
five times during the race and a propeller that had to be replaced on the ran. 


Strasbourg, France, September 12 

Only 17 of the 19 comperipg aircraft 
landed in Strasbourg yesterday. 
“Canuk”, the Canadian plane, had to 
stop in Britain because of an engine oil 
pressure problem. The crew hopes to 
reach Strasbourg once the problem is 
corrected by local engineers, but it is 
likely that the race is over for them. The 
“Carolina Belle" team’s propeller broke 
yesterday just before take-off from 
Reykjavik, and they are waiting liir fee 
U.S. manufacturer to send a 
replacement. Late last night, Karole 
called the race director from Reykjavik 
to announce that “Carolina Belle" is still 
in the race and will arrive in Strasbourg 
on Friday evening. 

This has delayed the announcement of 
results, as both organizers and 
competing crews want to include “The 
Girl.s“ in the first leg s standings. 

iicralo s ag&&.enbunc 


Carolina Belle is the only all-female 
crew, although four other female pilots 
are participating in the race: Ingrid 
Banck, from Sweden, is flying the 
Cessna 210 “Go Johnny Go” with 
husband Erik: Dawn Bansch is the 
captain of "Kona Wind," the Canadian 
crew's Cessna 421; Merce Marti of Spain 
is at the controls of the “Spirit of 
Frcixenet," a Piper Commanche; and 
American Cathy Lee is the copilot of 
“Rambling Wreck," a. Piper Malibu. 
Cathy wears a cap embroidered with 
the message “Women Fly." The 
“Garnik" and “Carolina Belle" crews will 
have time for only a short rest before 
taking off again tody on Saturday for 
Seville, Spain. 

The other crews are now working on 
their flight plans in Seville — rxk an 
easy task given the constraints of the 
saturated air space of "core Europe." 


R 


A TIMES MIRROR CflWAUr 


Visit nur web site at: 

hup://<Hirwc irkl.o mipuscrv e. con t/honicpagcs/faira u 1 1 / 


Scoreboard 


BASEBALL 


Major League Standings 



W 

L 

pa 

G8 

Baffimore 

89 

54 

£n 



New York 

82 

62 

-569 

Th 

Detroit 

71 

75 

.486 

19% 

Boston 

70 

75 

.483 

20 

Taranto 

70 

76 

JU9 

2tW 


CSfTRAL OflnSION 



Cleveland 

76 

65 

J539 

— 

MBwoukee 

72 

72 

J00 

5V4 

Chicago 

72 

74 

493 

6K 

Kansas CITy 

59 

84 

.413 

18 

Minnesota 

59 

85 

.410 

IBM 


WESTDCVtSIOM 



Seoflte 

81 

66 

-SSI 



Anohahn 

75 

71 

.514 

5% 

Texas 

68 

78 

.466 

12% 

Oakland 

60 

87 

.408 

21 

MAnaMALl 

UM 

1 



CAST DCVQTOM 




W 

L 

pa 

GB 

Afkrta 

91 

54 

428 



Res Ida 

84 

60 

J83 

m 

New York 

79 

66 

-545 

12 

Montreal 

73 

72 

-503 

18 

DIlLuUIiJiIx 

rnoaeVtlD 

58 

85 

.406 

33 

CENTRAL DmnoH 



Houston 

73 

72 

-503 



Rttshurgh 

70 

76 

479 

3W 

St Louis 

67 

78 

462 

6 

Qndmra 

65 

79 

451 

7% 

Chlcogo 

61 

85 

418 

1216 


WESTomaoM 



Las Angeles 

81 

65 

455 



ScmFrandsco HI 

65 

-555 



Cotorado 

74 

72 

J07 

7 

San Diego 

69 

77 

473 

12 

1M 

MMriUMlKOUS 


AMBWAH LEAGUE 



Tomato 

OH 

118 IN— 7 

12 1 


208 M4 002—8 11 3 
Heatgan, Ptasoc (7). QuanM <B1. Escobar 
(T9 aid B. SonSogoc Lorraine, Mfongert CO, 
Wtasdi Ui, Groom (7), Taylor {71. 
TjjUMhnn W and Moyne. W— T. 
J-Mathews 6-2. L— Escobar. 2-1. 
HRs— Toronto, B. Santiago (12). OaKtand 
Tejada (2). 

Q wcta d 801 2DQ 110—5 9 1 

Chicago 002 101 301—7 18 0 

Nagy. Mormon (7). Ptonk (7) ax) Borders 
Bakfvrta Foance (7). Kardmer (9) and 
Fabregas W fi mte 2 - 0 . L— Nagy 14 10. 
Sx-Hfltfnwr {T4J. HRs— Clewtand, Thane 
08). Gfes CIA Borders W. 

Wnmts W0 goo 088-0 2 0 

Ten on on ax-7 12 « 

Rotfte, Goardodo (8). Trombley [B] and 
SfcMadt PH*. Boies PL Poflenon IS). 
Wdktand C9J aid I. Rodriguez. W-Puvflk 3- 
< L-Rodfce 180. HRs— Texas. L Rodriguez 
3 09). 

New Tat 082 019 118-14 II 1 

Baimen OH Ml 010-2 7 2 

Reflate, Bw> n togcr (8) end Posad*; Key, 
Br.Wttams (6). TsMatoews (6). N. 
Rodriguez (7] and Hates. Rosario (B). 
W— PottBte 17-7. L— Key 1W. HR-New 
YtatOtteffl (20). 


Detroit 011 100 000-2 S 1 

Seattle IN ON OH-1 5 2 

Moefiksv Broad (8), ToJones (9) and 
Casatovro Fassera Ayafa (8). Spoffaric (9). 
Sloarmb (9) end DaWBson. W— Moehtorl »- 
10. L— Famro 15-9. Sv— ' TaJones (28). 
HR— Oetroft Nevtn (7). 

nreesary oh no 210-4 7 » 

Anatwta 009 OH 110-2 II I 

Apptee, Whtoeorori (7). Otson m. JWofcer 
(81. Pichardo (B). J .Montgomery (9) and 
MLSweeney; D-Springoc Jams (D end 
Kroutor, Turner -CB. W Appier 9-11 L— O. 
Springer 8-9. Sv— J. Montgomery 02). 
HRs— Kansas CB* ROM yens (23, Palmer 
(20). Anaheim. Salmon (31). 

NATIONAL LEAGUE 

San Francisco OH OH 123-5 12 0 

PtdoMptoo OH 210 0H-2 « 1 

Alvarez, Tavorez (71 R. Rodriguez (S. R. 
Hernandez (ED. Bet* (7) and BenrytA B. 
Johnson (9); ScMBnfr top (81 Spradlin (8) 
and Uebattxd W— R. Hernandez 3-1. 
L— 5 prod Bn 3-7. Sv— Bet* 06). HRs— San 
Francisco, Kent (27). PWtodetphia Hodler 
(3). 

Mooted 000 IH M0-2 II 0 

New York 201 HO 33*-9 13 2 

Mi-latinson Bennett (S). DeHart (7). 
Thurman (7), Teflon! (83, KBne (8) and 
Widger, Chore* Kb RJtoed Rates (83. 
-feFranco (8) and Pratt. VV— R- Reed 12-8. 
L— MUohnson 2-1 Sv-JaJranco (36). 
HRs— Mortrwd VHro (1L Segvt (18). New 
York. Affonxa (10), oterud 09). 


CYCLING 


Totm of Spain 

Rend* Friday el 21 HianOHr, la&aie. 
7tfi stag* batmen Gus&r and Starrs Neva- 
da, in Spain: 

1. Ywn Ledanots, Fr„ GAN 6 h. is m. 6 1. 

1 Laurent Cutout Swttzafcmd Lotus ot 42 s. 
XAtexZoefle, S wifcrertawJ. ONCE, si 

4. Jose Maria Jimenez. Spain Baneda si. 

5. T e rn e s xto E scor t In. Spoils Kdroe &1 

6. Claus Motor, Denmark, Eskpapa 47 

7. Peter brttNtaft Austria Rabobank 51 

8. Enrico Zaina Italy. Asks s± 

9. Annand de tas Cuevas, Fr, Btmesto 1:00 

10. PhEppe Barrienava Franca Cttftoo 14B 
ovauuu 1. Dufanx 34 hoursfovrn*»- 

utes 30 ncondB 2. Escaritn at 13 sj 1 Zuefc 
14 u 4. Ledanls 121; 5. MdBer2l«&. Zafna 
Z24; 7. Luttonberg si.* 8. De bs Coens 233; 
9. Mirras Serrano. Span Ketoe 10. 
Daniel daveia, Spain, Estepona W. 


ed Arab Em holes X Japan 1 Uzbekistan t* 
KazakstonO. 


Dados 1, SanJaseO 
•M*** Eertmra Canfarmcr: x-D-C. 
48 points Tampa Boy 3ft Cotom(bus32; NY- 
NJ 31; New England 28. Western Confer, 
cnee: x-Kansas Qty 46 points Dallas 39; 
Cotorado 3S; Las Angeles 32: Sroi Jase 27. 
x-c»nch ed play off spot 

Chatoauraax I. Rennes 0 
Gatnprap 2. Lens 1 


voueybau. Eindhoven Den Bosdv 
Nriherionds — men. European Qxxnpi- 
onship.toSepL J4. 

Summit, Sept. 14 

CMCKMrr, Torarde — 1-day W enxdto n Ql 
Sahara Cap, India vs. Pakistan Match 2 
■eoToaereu mcok, Barcelona 
Spain — Catahinyp Grand Prix. 

soccsR, vurious sues— Worid Cupqugt- 
ftting: El SatvmJorvx. Canada: Saadi Arabia 
vs. Kuwait Jamaica vs. Casta Rica 

Monday, Sept 1 5 


Heerenveen a Feyenoort 0 


TENNIS 


PRRMV, M BOURNEMOUTH, BI6LMO 


. . . -T?** 0 - NicMrei Ladles Cham- 

pfonstup*toSept.7). 

Tuesday, Sept. 16 


Fef^ Mama (2). Spain, def. Ctofetophe 
van Gtrsse, Befeiom, 6-1 7-6 (7-4). 

Greg Rusedski {3}. Britain, dot Urcns 
Arnold Argentina, 7-4 (7-31. 6-3. . 

Marcos Ondraska South Africa deL Ja- 
coiw Dtaz. Spakv 7-i 6-i 
Corias Moya Cl) Spain def. Doride Soda 
IMyt&A-d. 

HWMV, MTMratBtT, UZBEnsrAM 
aUARTEHFWULS 

Yevgeny KafeMkov Cl). Russia def. An- 
drei StoQara*. Russia 6-t 6-4. 

Man: Rassel CO, Switzerland deL Hicham 
to. Moroaoa 6-2 d-d 
Frandsea Clavet (61. Spain, dot Javier 
Sandw. Spain (4),6-1,6-Z 
Ttai Henman (2). Britain. deL Vincent 

Spotted Bora Raton, RH.6-& £4 


The Week Ahead 


Saturday, Sept. 13 


World cup 


SECOND ROUH 
GROUPS 
South Korea X Uzbekistan 1 
United Arah Emirates 4, Kazakstan 0 
S Tiiin i QTi South Korea 6 points, Unri- 


*"**!*■, Futaraks, Japan — men. 
«»ed IAAF, Grand Pit* RnaL 
"ttviwo. Las Vegas — n™ - De ld 
H oya U A, rj. HoctarComacha Puerto Rica 
12 -rauod for WBC neSarweigW 8Bc_ 

Toronto — 1-day Wern oliw wl 

Sdnra Offs India tis. PHHoa Matdi I . 

_ CTBt "?S» Spain - Vuetta de 

J*®® Sept ChatooiMfOoE, Sw tt za f- 
** 

c 2“^ mmp ® fcF ' r -““l-«»C0weTraphy} 

atttooi MnochneOs - CVS Chorily 

Women:l ^ 

’•wrongtoa — SAFECO OasstcKanL J<x> — 
-H»n LPGA 

HenM iMMa, Danaisie^ EngJam _ 
Six UflBfa 

^NriOL men. DowmuHxraris England 

Baoroeraoolh Opea to Sept Id MerbeXi 
Spaki— MabdtoOpeatoSept. 14; Tashkent 
Uzbekistan— PresktorsQia to SqA. li, 
MtREKTUHc. Wiadavt Pot — raeaGro- 
ta Ranai Worid Oxnnntonshtos. la sepL 13. 

so cc er. DaOan CMna — WorV3 Cup 
qw myt mc China vs. Iran. Caka Egypt — 
soccb Under-17 Werid Cap, to Sept.2i. 


wetoos sites — UEFA Cea 1 st 

Striawig, Austria »s. Rsc 
Anderiedd Mguia PAOKSctontai Greera 
“■ Widzew Lodz. FUaraL 

Te0to niC s * wet *k 

S Skon,a L£rtv ~ 
m Ron o eB - 

mOi SOKB9 (Hr Gcrmcny. vs. Haklok So a 

nta VtaHmtaz, Russia GROUP D: Sins 
S a Oaj tond w . Sprokrit Moscow; Russia 
B^a Rtos vs. Benfka Portugal OR 
UE *' uroeca vs, r eren t^ima . Hutxxxv. 

GROUP E ^Bonteaw. Franco w. Aston VBfe 
s *™n Burfiaiest Rnarani a vs. 
re neiba tiodTaitofc Rotor Volgograd Russia 
vs. Orebia Swettea Jazz; Port Rtfand vs. 
1860 Munteti Gennony, GROUP F-. Trabzon- 
spos Toritey, vs. Bochum, Gemraiy; Croatia 
«?®Sa vs. Gnsshoppera SwBzeriand 
yBe^And^WeB^nra. W. Braga Por- 
tugol Rnpxt Vienna Austria vs. Hapoel 
Petah-Tkiva brad, GROUP G: Inter Mfen, 

IW)l vs NeudMWXimwSwazerioTidCelHc 

Stotond vs Uv wpool. England Brahtor 
Moosnd Detgiam. vs Metz. Franoe, Twento 
HHwiiands. vs LSrahoat Nor- 
way, GROUP H: Bettor Jerosiriem. Israel vs. 

CM* Bragge. Be^uia Aflellca Madrid Spam, 

England Aarhus, Denmarii vs 
N<™s Franca Karisroha Germany, vs. 
Anurihasis Froigusta Cypras . 

Wephespay, Sect. 17 

«nVRMNa. Jakarta Indonesia — 

Rosy of indanuia to SepL 21. 

field hotkct. Mfltan Keynes England 
— meg SMB Junior Worid Cap. lo Sept. 28L 
cnem Toronto - l-doy hdemrikma. 

SdtaraCi^ ladlo vs PakbiBv Makh 2. 

England Ju- 

Unoed England vs Barcelona Spota Group 


D: Real Madrid Spate, vs. Rasentaf* Nof- 
way. aympWms Greeca vs FC Porta Pof 
togrt rGroup E: Bayern Mu nidi Germany, vs 
BesMos, Turkey, Pads SL Getmofn, Fltmca 

ysGotebocg. Sweden, Group F: Sporting, Por- 
wgat. Manned France, Bayer 04 L c v c ikn sca 
Geraxmy, vs K. Lieise SK. Btogianv- 

Thursday, Sept. 18 

•nor Wororidt, England — British 
MasterataSepL7l;SanAn»orao — UiCro»- 
, era r«KK Opea to 5epL 21; Sapporo, Japes: 
— ANA Opea to Sept 21. Women: Contort 
Moss « i »«^8 - Ping- Welch's Champ*- 
P rehip, to Sepl 21. 

teimis, Paris — mea ATP Senior Tout; 
TowafOwmpfonstoSeptTF. 

Eoropean Cup Wlnnaris Cup: 
IM Boon A 1st Leg: Kocaeflspor, Turiwy, vs 

National Bucarestl Romonia Apoel Nkssla 

Cyprus, vs Storm Graz, Austria Vestmov 
n oey)a Ic ekmd vs VFB Shritgort, Germany. 
Baavtata. Portugal vs ShakMyor Donetsk, 
Ukraine, Gamtod Ekeratv Bdghrai vs Red 
5tor Betorade, Yugoslavia AIK Sotea Swe- 
deavs NK Prtmorje. Storenfa AEK Athens 
Greece, vs Dtnomo Oougovpffs, Latvia 
S lavto Prah a Ocdi RepuMa vs Lucerne. 
Swflmkmd Hapoel Beer-Sheva Isroel vs 

re *£££ ^^^StownBrallsIn. 

SJS515? 1 ^ 

Spate, vs. Bo- 

Itely, vs Legn Vtonaowa Poks^ 

fhioay, Sept. 1 a 

K rerait Un ited Arab EnvraS^.^ ^ 
^ WorM GWBR send 

ttato.VnrtnJc^i™ 1 Swwai VS 


fi 


# 


titioa for fee entertainmeat dollar,” be 
said. “For our fans, a new rfaHnim en- 
hances fee product. It’s our main arena, 
our stage. 

“It also adds a great dad of pride,” 
he said. “ Carolina believes it’s got fee 
finest facility in sports, and feat because 
of it, it’s tough for their team to lose at 
home.” 

The impact on winmng,pmticularly in 
fee NFL, has yet to be seen. The Atlanta 
Falcons, for example, moved into the 
Georgia Dome in 1992. Their overall 
record since the move is3I -5 1 , including 
a mediocre 23-19 in the new building. 
The Sl Louis Rams, playing, at the new 
Trans Worid Dome the past two years, 
are 14-20 overall and 9-9 at home. 



^fcvsOBjfBelgkmM 
vs Mtofca Russia »s r 


omBwion 
vs Norway; RnkxxJ vs. Pt 

v «"aw5 Cotaotoio vs Un 
Siyru «PAY.Si 

SOCCSR. Atawty, r™ 

Toronto — i 


AUTO Mb 

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00 \ |e,VEPNESPA3C, SE PTE MBER 24, 1997 

INTERNATIONAL HPBAT.n TRIBUNE, SATURDAY-SUNPAY, SEPTEMBER 13-14, 1997 


EAGE3' 


PAGE 21 


"i\ Li 


SPORTS 





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f ■ . . ' . D ■■ 

■ ■ - : -!\hQ 


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( •» ' J 


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Bucs Facing Big Test 

They Take to Road Against Vikings 


By Mike Free man 

New York Times Service 


A iTT** ***!' w- Minw***. (2-0) 

au uiose teams that for years passed 
over Tony Dungy are probably kick- 
ing themselves now. In just his second 
year as coach, he has tamed a joke of 

a franchise into a winner. This is a 
tough test. Can the Bucs win on the 
road against a team (hat is great at 
. Yes they can, because Dungy 
still knows his old team well. 

score: Buccaneers 21, 

Vikings 20 

■hitfato 11-IJv*. Kama. City ff-f. ) 

Tms past offseason Kansas City's 
coach, Marty Schottenheimer, went 
on an offensive shopping spree. It 
naid off in a big way in the Chiefs’ 
•t-second victory over the Raiders 

NFL Matchups 


on Monday night. Many in the league 
think this is the beginning of a roll for 
the Chiefs. They will have to over- 
come a Buffalo defense, still full of 
jjride. The Chiefs lose a home opener? 

Chiefs 30. Bills 17 

Monti (2-0) vs. Gram Bay ( 1 - 1 ) So 
much for talk of an undefeated sea- 
son. The Packers were so busy being 
full of themselves and filming com- 
mercials they forgot that Ray Rhodes 
is one of the best coaches in football, 
thus die loss to Philadelp hia. But now 
that they have had their wake-up call, 
coach Mike Holmgren will have his 
team ready. Jimmy Johnson will try to 
find a way to a nark what is con- 
sidered a vulnerable Green Bay of- 
fensive line, but it won't be enough 
for victory. 

Packers 24, Dolphins 7 

Oakland (0-2) vs. Atlanta ( 02 ) The 
battle for the worst team in the league 
may be fought between the Saints and 
Falcons. This is a tough week for 
Atlanta as it faces a Raiders team that 
is coining off one of the toughest 
losses in franchise history. After the 
game, coach Joe Bagel closed the 
locker room and the players didn’t 
speak to the media. They are mad and 
they will take it out on Atlanta. 

Readers 30, Falcons 10 

Detroit ( 1 - 1 ) vs. Chicago (0-2) This 
has the potential to be the ugly game 
of the week. 

Thai two-back offense hasn't 
caught on with Barry Sanders and it 
may not ever. But in games normally 
so close and unpredictable, go with 
the team that has Sanders. 

Lions 14, Bears 10 

B atti mora ft- 1 ) Mow Ybrfc Gianta 
( 1 - 1 ) This game is the beginning of a 
three-game stretch against very beat- 
able teams — Ravens at home, at St 
Louis and then home against New 
Orleans. If die Giants are going to 
have a winning season, they must win 
two of those games. This will not be 

an easy time for the Giants and may be 
die toughest of the three because Bal- 
timore can score points — it averages 
almost 400 yards a game — but the 
Giants will slow the game down by 
running the balL [took for Tyrone 
Wheatley to get more action than he 
has all season. 

Giants 21, Ravens 14 

Carolmaf 1-1) vs. San Diego (1-1 jit's 

pretty scary when the Panthers can 
score only 9 points against the Fal- 
cons. This club has some major prob- 


lems, on and off the field. The Char- 
gers have just enough offense to win 
this one. 

Chargers 17, Panthers 7 

S*. Lows (1-1) vs. Denver (24)} No 

team will go undefeated this year. But 
die two teams that may come closest 
are the New England Patriots and the 
Broncos. The Broncos have the look of 
a team on a roll — just like last year. 

Dick Vermeil has done a good job of 
hying to change the way the Rams 
think of themselves — I’m OJK., 
you’re OJC, we’re Old — but along 
come the Bronoos to send them back to 
therapy. Wide receiver Isaac Bruce 
may play his first game fa- the Rams 
this year (he has been nursing an in- 
jured hamstring) and that coukfmake it 
interesting. 

Broncos 40, Rams 20 

Nmr Orleans (0-2) vs. San Francisco 
(i-i) This game will be watched 
closely to see what happens with 
quarterback Steve Young. He’ll start, 
but how many more hits to the head 
will it take before he finally cones to 
his senses and retires? Fortunately for 
Young, if he does play, the Saints 
won’t provide much of a challenge as 
Mike Ditka’s baric is worse than his 
bite. And don’t forget that the 49er 
defease has 8 Pro Bowlers on it 
They’ll cany the day. 

49ers 23. Saints 3 

Seattle (0-2) vs. IwfianapoGs (0-2) 

Its been said that if Dennis Erickson 
loses many more games, be will one 
day wake up to find the head of a 
Pentium Processor chip in his bed. 
This has been an incredibly ugly start 
fa the team and a scary one con- 
sidering how much money owner 
Paul Alien spent this offseason. But 
Women Moon comes to the rescue. He 
has five 300-yard efforts against the 
Colts, an early candidate for die most 
disappointing team of the year. 

Seahawks 31. Colts 12 

Arizona (1-1) vs. Waitite g tmi (1-1) 

Last week against Dallas, coach 
Vince Tobin made three blitz calls 
late in die game that worked perfectly. 
It was part of being prepared, and the 
Cardinals players are always pre- 
pared, thanks to an excellent coaching 
staff. If running back Terry Allen 
plays — he has a broken thumb — it 
will be hard fa Arizona to beat the 
Redskins but look for Tobin to con- 
tinue his hot streak. 

Cardinals 16. Redskins 14 

Nmt York Jets (1-1) vs. Hew Eng- 
land (24) You know something is 
rotten when both teams say this game 
isn’t special and it doesn't mean 
much. Of course it does. If the teams 
don’t believe that this game means 
much, others do. 

There will be extra security at 
Foxboro Stadium. On the field, while 
coach Bill Parceils does know the 
New England personnel well, it won't 
do much good becanse the Patriots are 
just too powerful fa the Jets. They 
have the best defense in die AFC and 
Drew Bledsoe may be the hottest 
quarterback in die league right now. 

Patriots 35, Jets 18 

In Monday night's game: 

PfiBarfsfphta (1-1 1 vs. Dallas (1-1) 

The good news for Dallas: The team 
is 12-2 following a loss under coach 
Barry Switzer. The bad news: Ray 
Rhodes of the Eagles knows how to 
play this t«»m well Unfortunately for 
him. not well enough this time. 

Cowboys 28, Eagles 21 



Yankees Salvage Morale 
In Pounding the Orioles 


By Jack Carry 

New York Tines Service 


iscOai/Rralm 

The Yankees’ Derek Jeter pulling back from an inside Jimmy Key pitch. 


BALTIMORE — It is obviously too 
late for the New York Yankees to over- 
take the powerful Baltimore Orioles, no 
matter bow much they want to dream. 

It is too late for the Yankees to steal a 
division title, no matter what George 
Steinbrenner thinVs 

Bat it is not too late fa the Yankees to 
revive themselves and maybe even 
scare the Orioles for a second, a minute 
or an hour when the discussion shifts to 
baseball in October. 

It will take much more rhan one mem- 
orable night for the Yankees to achieve 
these majestic goals. But they crawled 
toward them Thursday night because 

BAfliail ROUNDUP 

Andy Petritte was awesome and an ex- 
plosive offense made Jimmy Key look 
mortal and made a usually reliable bull- 
pen look anemic in a 14-2 landslide at 
Camden Yards. 

Finally, the Yankees felt as if the 
Orioles were just another iw*™, not 
some superhuman players from another 
universe. 

To sqaekh or even scare teams, die 
Yankees need precise pitching, and Pet- 
ti tie provided it six days after a scorch- 
ing fine drive almost tattoed baseball 


Home-Run Record Like a Holy Grail 


Washington Post Service 

W ASHINGTON — Few things 
in sports are as rare as a base- 
ball player with an honest shot 
at the all-time home run record once the 
calendar turns to September. 

April has its smy projections and 
May its fantasies. Occasionally, a Brady 
Anderson makes it to the All-Star 
Game, the season’s halfway mark, with 
30 homers. 

But after Labor Day almost nobody 
talks about the record of records. 

Of course, Roger Maris holds the 
mark of 61 homers in 1961. But that 
simple scat totally distorts the issue. 
How many other players have hit even 
55 homers? Hank Greenberg hit 58 in 
1938. Since then, nobody except Maris 
has hit 55. Thar’s bow hard it is. 

So, that shows us how remaikable the 
accomplishments of Ken Griffey Jr. and 
Mark McGwire already are. And it 
shows how much luck they’ll need in 
their current home run quests. 

They both have 50; McGuire has 17 
games to play and Griffey 15. 

As McGwire said on Wednesday 
night, after becoming the first player 
since Babe Ruth to hit 50 homers in 
back-to-back seasons, that he was in 
awe of himself, to be mentioned with 
Babe Ruth. “That’s more than I ever 
expected to accomplish,” he said. 

Over the long haul, baseball is a game 
of reversion to the mean. You rarely get 
too far from your career- long norms. 
But, luckily, players can soar far above 
themselves fa short periods of time. 

The odds say that neither Griffey nor 
McGwire will hit 62 homers. The sen- 
sible bet is that they’ll both finish with 
55 or 56. 

But why should we be sensible when 
we’re talking about McGwire, who has 
hit homers of 538, 5 14, 504 and 500 feet 
this season? Forget Frank Howard. 
Dave Kingman and all the other tape- 
measure men. When we are talking raw 


Vantage Point/ Thomas Boswill 


distance, three men in baseball history 
stand at the top of the list: Ruth, McG- 
wire and Mickey Mantle. 

As for Griffey, Orioles coach John 
Steams says, “He’ll have nearly 300 
career homers by the end of this season. 
He’s only 27 years old. He hits 45 a 
more homers a year. So, in 10 years, if 
he averages 40 homers a year, he’d have 
close to 700 homers. And he’d only be 
37 years old. 

“So. you tell me how many homers 
he’s going to hit in his whole career? In 
100 years, people are going to talk about 
Babe Ruth, Mickey Mantle, Willie 
Mays. Hank Aaron and Ken Griffey. 
You’re watching history. By the time 
he’s finished, his numbers are going to 
stand there as long as they play base- 
ball.” 

G riffey might have smashed the 
Maris record this year if his 
mother-in-law hadn't died the 
day after the All-Star Game. She was 
only 54. “I’d only experienced one oth- 
er death in the family that was so close,” 
said Griffey, who had only one hone 
run in the month of July. “I was just in a 
fog for a while." 

A month ago in Baltimore, he re- 
discovered his stroke. Some players 
study films. Others consult swing gurus. 
Griffey has his own trick. “If somebody 
grabs the barrel of the bat when it’s 
behind your head, can you tell where his 
hand is on the bat? On the end? On the 
label? On the sweet root? Knowing 
where the barrel of the bat is — when 
it's cocked be hind your bead — is half 
the battle. Thai you can deliver the 
barrel to the ball.” 

In July, Griffey had been 
the bat too far around his neck and 
lost his sense of where the barrel was. 
Fa the last month, he has been afire. In 


August he had, 14 homers. So far this 
month, six. 

To break Mans’s record, Griffey 
would need 12 more homers in Septem- 
ber fa a total of 1 8 in the month, fs that 
even remotely possible? When Ruth hit 
60 in 1927, he hit 17 in September. 
Remember, when you’re hot, you're 
hot. And, in the mighty Mariners lineup, 
even Griffey gets some pitches to hit 

Actually, Griffey gets one lucky 
break. On Friday night, he was to face a 
pitcher against whom he has batted .4 1 5 
in his career with five homers in 53 at 
bats. Who is this pigeon? Why, Roger 
Clemens. The Rocket will bring the 
heat. And he'll throw strikes. Griffey 
may get the golden sombrero — four 
K's. But he also might have one of those 
historic nights — with a couple of blasts 
off the best pitcher in the game — that 
ignites athletes to the heights. 

McGwire also has had a bad break in 
his homer crusade. After bring traded 
from the tail-end Oakland A’s to the 
marginally contending Sl Louis Cards, 
McGwire went cold — 2 for 26. 

A new league, a new strike zone, a 
new team. Since then, he has hit 16 
homers. 

He already has reached spots in 
Busch Stadium and Pro Player Park in 
Miami that no National Leaguer has 
ever visited. 

In all honesty, how much chance for 
62 homers does either man have? Prob- 
ably not much. “You’ve got to come 
into September ahead of the pace, not 
behind it,” said McGwire at die all-star 
break. 

In September, he explained, you see 
rookie pitchers who are too scared to 
throw you a strike or whom you’ve 
never seen before. 

Contending teams make doubly sure 
to pitch around you. 


stitchings across his face. 

He allowed two baserunners in die 
first before retiring 16 straight to give 
the Yankees the sort of starting effort 
that has been lacking this mouth with 
David Cone injured arid David Wells 
and Dwight Gooden inept 

The Yankees made sure Petrine's 
critical night turned extremely cozy 
with a nine-run sixth inning dial turned a 
3-0 fight between Pettitte and Key into a 
12-0 fiasco fa the Orioles. 

Thirteen Yankees batted, six had hits 
and the inning featured Derek Jeter's 
three-run double off the right field 
scoreboard off Brian Williams and Paul 
O’Neill ’sprodigious three-run homer to 
center off Terry Mathews, two of the 
lesser Oriole relievers. 

Royals 4. Angsts 2 Roderick Myers 
and Dean Palmer bomered fa the host 
Royals, and Kevin Appier (9-12) won 
for only the third time in his last 14 
starts, allowing a run and nine hits in &A 
innings. 

Tigors 3, llarinors i Brian Moehler 
allowed three hits in seven innings and 
held Keu Griffey Jr. homerless for the 
fourth straight game. 

Griffey went 1 for 3 but once again 
failed in Detroit to hit his 51st homer. 

Axfilatics 8, Shis Jays 7 Ben Grieve, a 
rookie, singled home the winning run 
with one out in the bottom of the ninth at 
Oakland. 

White Sox 7, Indiana 5 It Chicago, 
Robin Ventura hit a tie-breaking, two- 
run single in the seventh inning as the 
White Sox beat Cleveland. 

nangiw. 7, Twin o In Arlington, 
Texas, Ivan Rodriguez had die first 
three-homer game of his career, and Ro- 
ger Pavlik pitched six shutout innings as 
Texas ended a five-game losing streak. 

a u to 5, PhSfios a San Francisco 
scored all its runs in the last three in- 
nings to mo ve into a first-place tie in the 
National League West. 

Curt Schilling, who is four strikeouts 
away from reaching 300, and the Phil- 
lies were motivated by a pregame tribute 
at home to Richie Ashbum, the Hall of 
Faraer who died Tuesday at age 70. 

Schilling, who has 17 double-digit 
strikeout games this season, was not as 
overpowering as he has been, striking 
out six, but he still held the Giants to six 
hits in seven innings. 

After Schilling left in the seventh, the 
Giants got back in the game. 

Hate 9, Expo* s In New Yak, John 
Olerud hit fa the cycle and drove in five 
runs for the Mets, who trail the Florida 
Marlins by 5Vt games with 17 to play in 
NL wild-card race. 


Fast Reinstatement 
Of Rose Doubted 

The Associated Press 

NEW YORK — Pete Rose 
should not expect baseball officials 
to give quick consideration to a 
move for his reinstatement, accord- 
ing to several baseball officials. 

Rose’s lawyer, Gary Spicer, met 
with Robert DuPuy, lawyer fa the 
acting commissioner. Bod Selig, 
and discussed die process that 
Rose, baseball’s career hits leader, 
needed to follow if die lifetime ban 
that he agreed to in August 1989 for 
betting on sports was to be lifted. 

Baseball o fficials said they b a d 
no urgency to deal with Rose, who 
was manager of the Cincinnati Reds 
at the time he agreed to the ban. 


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PAGE 22 


INTERNATIONAL HERALD TRIBUNE, SATCRDAT-S UNDAY, SEPTEMBER 13-1*. 199 


DAVE BARRY 


i Natural Thrills in the West 

L jrTAMT _ We went West for our Hills, which get their name &°m the fact 
]VI summer vacation. Oor idea wa^to SMS 

follow in the footsteps of the hardy ail ihe major natural attrac- 

uncharted wilderness, a feat that was rh* Rnnkv Moun- 


Terrence Malick Is Back, With an Epic 


possible- only because of iheir great the Mediocretads, *eRock^M<ȣ 

some other agency has set uga sig that 
ffig'a P sKetaen ™ motlS Sista, TEREST, and when you slopto rcaditi 

»^*5a aaBa ^-ssraSi-l 

minivan with their baseball caps erosion 350 million years ago dining the 
jammed down over their eves, listening Curvaceous Period, when the West was 
^Sdualcontpact^piay- covered by “ 

was stomping tearfully' — . ... " «“»“»“*■£ 

s f r“t Nnmer °f sstfKJSUs 

S ahotag off the we met had convinced that the Wes. 

hillsides, waving some reached Critical 


to their individual compact-disc play- 
ers. A girL maybe 12. 

was stomping tearfully 
away from the van. fol- J’lUDlCrol 
lowed by Mom. her . t 

words echoing off the we met 1 
hillsides, waving some reached 1 

bread and shouting, "IF „ w 

you don’t eat Hostility Mass. 

THIS SANDWICH, 

I’M NOT MAKING 
YOU ANOTHER ONE!” A few feet 
away. Dad was sitting on a rock, chew- 
ing very slowly, staring at the ground. 
Togetherness! 

On our crip, we made a painstaking 
effort to follow exactly the route that 
Lewis and Clark used, the only ex- 
ception being that they took the Mis- 
souri River, whereas we took Interstate 
90, which is a lot more direct and has 
motels. At some points the interstate is 
very close to the river, and you frankly 
have to wonder how Lewis and Clark 
failed to notice it They may have been 
hardy, but apparently they were nor the 
sharpest quills on the porcupine, if you 
get my dnf L 

One big advantage of the 1-90 route is 
that it takes you to South Dakota (Of- 
ficial state mono: “Gateway to North 
Dakota''). And of course the biggest 
South Dakota tourist attraction is Mount 
Rushmore. You've probably seen hun- 
dreds of pictures of this famous monu- 
ment, but until you are standing right in 
from of it. in person, you cannot truly 
appreciate the fact that it’s only eight 
inches tall. There's a big lens in front of 
it. 

No. seriously. Mount Rushmore is 
large and impressive, and you cannot 
help but feel a sense of awe as you look 
Hp at the granite-carved faces of those 
four grear'American leaders — George 
Washington, Thomas Jefferson, Abra- 
ham Lincoln and Don Shula — gazing 
out from the purple mountain’s majesty, 
across the fruited plain, looking as 
though they are surveying the mighty 
nation thai they helped to create and 
thinking: “Since when is corn a fruit?’ ' 

Mount Rushmore is in the Black 


“ has some kind of sub- 

S families stance-abuse problem, 

_ because it is absolutely 

Eld. convinced that the West 

Vftiral used to be covered by an 

* rn3cai ocean, although if this 

Mass. ■ were true you’d think 

that there would be 

some evidence of it 
today in the form of, for example, a 
petrified boardwalk. 

Some of the other natural wonders we 
saw on our trip were: - 

At least 500 billion fluorescent red- 
orange traffic cones, carefully placed 
every few feet of highway across 1,000 
miles and four states, alerting us that 
road crews were working ahead. 

One guy (in Wyoming, I believe) who 
was actually working on the road. 

A sign outside the cow-intensive 
community of Dimock. South Dakota, 
that said “SAY IT -WITH CHEESE” 
But the highlight of the trip was Yel- 
lowstone National Park, which contains 
many amazing natural wonders that 
were caused by erosion and are now 
being preserved for future generations 
by a dense protective layer of buffalo 
poop. I personally had thought that buf- 
falo were pretty much extinct, but it 
’turns out that the federal government 
employs a large number of them in 
Yellowstone, where they roam around 
while the deer and of course the ante- 
lope play, and seldom is heard a dis- 
couraging word, although you do hear a 
lot of people saying, “WATCH 
WHERE YOU STEP! ’ 1 But the buffalo 
really are impressive, and speaking as a 
taxpayer 1 consider them a far better 
deal than, for example, the Department 
of Commerce. 

In conclusion, it was a great trip, and 
I want to end with an inspirational quote 
from Lewis, orpossibly Claik, who said 
at the end of their epic journey: "If we 
write an account of mis epic journey . we 
can deduct it on our taxes.” 

© 1997 The Miami Herald 
Distributed by Tribune Media Service Inc. 


International Herald Tribune 

P ARIS — The 1970s were the last great 
film decade. beginning with 
"M*A*S*H” in 1970 and ending in 1979 . 
with "Apocalypse Now”: a st unning period 
in which veteran and unknown directors pro- 
duced some of their best work. Among the 
new directors was Terrance Malick, who 
made his debut in 1 973 with "Badlands * ’ and 
followed in 1978 with "Days of Heaven,” 
arguably the most visually beautiful color 
film ever made. After that, Malick, who had 
been hailed ‘as the new Orson Welles, dis- 

aP Iol998. after 20 years of silence. Malick 
will be back with “The Thin Red Line,” his 

maryblume 

own adaptation of the James Jones novel set ■ 
on Guadalcanal, which he is now shooting in 
Queensland, Australia. A deeply human and 
intimate epic, a genre that Malick has 
uniquely made his own, the film has a $50 
mil Hon budget and a huge cast, many of 
whom — playing soldiers — weren’t bom 
when Malick made his last film. It stars Sean 
Penn, John Travolta (who was to have had the 
Richard Gere role in "Days of Heaven” but 
had to drop out because of aTV commitment) 
and Nick Noire, and such relative newcomers 
as Jim Caviezel and Adrien Brody. It is about 
the l anding on Nov. 9, 1942, of U.S. Army 
troops in an offensive that became one of the 
bloodiest battles of the Pacific war. 

It seems surprising for Malick to return 
with an adaptation, rather than an orig in al 
script, and to choose a huge war film, buthe is 
a great admirer of the novel and it is perhaps 
not foolish these days to come back with a 
very big movie. 

• ‘Every day we wake up and kind of pinch Main 
ourselves," says the film’s producer, John 
Roberdeau, who with his partner, Bobby Geisler, got 
the project going. “Rarely is there such a great story 
that also affords such commercial casting,” Geisler 
adds. "Terry doesn’t have to compromise in his art 

one whit." ... 

Malick, a Harvard graduate, Rhodes scholar and a 
translator of Martin Heidegger, was reported in his 
long absence to be working on a script about the 
creation of the world, studying Buddhism in the 
Himalayas and to be living in Paris, all true the 
producers say. It was also rumored that he was selling 
T-shirts and cutting people’s hair, which they deny. 

“I wouldn’t trust Terry to cut my hair,” said 
Roberdeau. "Definitely not," said Geisler. In fact 
Malick was .in Paris (his wife is French l and Austin. 
Texas, working as script doctor and slowly de- 
veloping his own projects. 

As producers, Geisler and Roberdeau are an un- 
usual team who work out of SoHo. live in Greenwich 
Village, have been on Broadway and in experimental 
theater and dance since 1979 and have produced only 
two films, Robert Altman's “Streamers” and 
* ‘Secret Friends,” the one movie directed by the late 
Fnoiinh television writer Dennis Potter. Their partner 
in “The Thin Red Line" is the Hollywood executive 
Mike Medavoy, who secured the funds and who was 
Malick’s first agent. 

Both producers are Texans, Roberdeau the crisp 
and lean son of a career air force officer. Geisler, 
plump and chatty, the son of a music teacher who 



iiuir V.duM.'lV-iflii-Hnt'rnlnulllK 

Malick at a "Sansho the Bailiff” workshop in 1993. 

r cot became a high school principal. Both went to film 
story school at the University of Texas and met in Los 
•isler Angeles where Roberdeau had gone “to find my 
is art Place in it all. ” Geisler had entered show business by 
playing the first Winnie the Pooh at Walt Disney 
ind a world (he later became Gideon the Cat). Geisler met 
n his Malick in 1978 to propose a film version of David 
it the Rabe’s play, "In the Boom Boom Room, 
i the “I didn’t know what he was doing alter makin g 
e the that extraordinary movie. ’Badlands,’ for all I knew 
•Iline he was wailing on table. I was so far out of the 
ienvT Hollywood loop." Geisler said, 
said ‘ * He would always suggest we gather at the oddest 

i fact hour in the strangest restaurants. I felt I was being 
iistin, very discreet bv not asking what he was doing all day 
, d e _ long, where he was waiting table, and I’ll never 
forget the day I received an invitation to the first 
n un- -screening of Teirence Malick' s 'Days of Heaven 
iwich and it occurred to me that what he does all day is 
lental finish his movie. I don’t know, maybe that s what 
[ only caused us to be close because he knew I didn ’t know . 

and We remained friendly and it was always easy to get 
e late back in touch with him." 

inner Malick turned down "In the Boom Boom Room” 
utive but agreed to do a traveling piece in a circus tent 
3 was complete with sideshow based on die life of John 
Merrick, the Elephant Man. The project was dropped 
crisp after the Broadway play and David Lynch film took 
iisler, on the same subject 

who Ten years later, the producers asked Malick to 


direct “The White Hotel,” a screen adapt-, 
ation of the troubling D.M. Thomas nqyeL 
Malick declined but offered Itbem a .chon* . 

tween two projects. The Thin Red Line ’ 
mdMoS ^ "Tartoffe. ' ' They chore “I* : 
Thin Red Line” and had their fir^r script : 

conference in Paris. . , • ■ • 

The script wasn't ready so Goster-aud. 
Roberdeau in 1989 commissioned Malickto 
do a stage adaptation of Sancho (he ; . 
Bailiff" an ancient Japanese tale that had 
S made into a film &y K“i? tojpchi 
The play, directed by Andrzej Watfajmd- 

with costumes by Eiko lshidra,wasskrwQ^ ; 
workshop at the Brooklyn Acadanv atta- 
in 1993 and will be directed on Broadway hy 
Malick after "TheTttnRed Lme. AnotB£ 
film will follow, "The English Speaker*..: 
commissioned by Geisler and Roberdeak a, 
1990 which Malick has been worlong.fog-.: 
since’ before “Days of Heaven" and whrtfej 
the producers describe as a top secret a^ 

deeply personal project „ 

"In the Boom Boom Room, whkg 
Malick turned down way back, will also hu- 
mmed, with Barbara Kopple. whose docpp 
mentaries "Harland County, USA 4 % 
“American Dream” won Academy Awarag; 
making her fiction debut. And 20 years afK§|* 
Malick said no, the producers- hope . to sigaJ: 
Emir Kusturica to direct Dennis Potter s-a£g 
ap ration of “The White Hotel. ' - ' -&.= 

Geisler and Roberdeau are so pattern- an& 
attentive that they have turned producing mtib 
one of the caring professions. They provide^ 
their directors with endless research: for the; 
aborted “Elephant Man," medical studies^ 
Bruno Bettelheim’s "The Uses of Enchant-^ 
ment" and Peter ■ Brook's. "The Empty^ 
Space' among the package for ‘tThe/Whixer 
rpo«T«i Hotel” were music from the Theresiensta® . 

the hiT'tune of 1941. For “The Thht^lsf. 
Line" Roberdeau worked with army nmseunjgajpfc^ 
ing sure, for example, that the military 
being woven exactly to 1942 specifications. 

“Army equipment during the war changstfaad- 
ically,” he said. "They hadn’t yet learned ttmetiT;. 
buttons like you see on Levis if they get t&becqme- 
another piece of shrapnel. They were using .very Shag 
bayonets, 16-inch bayonets, and many of them were 
being issued shotguns. Their undershirts were while 
and they realized this was a very bad idea; that they 
could be hit by snipers, so the guys started to dye 
them in coffee grounds or berries." 

"AD this imagery Malick is making great use of, if 
doesn’t look like the usual war picture, ” Geisler said. 
“When you realize that when these kids hit the 
beaches they were carrying bright' blue duffel ba$ 
and overcoats, this gives the whole movie a slightly 
surreal feeling.” 

They feel their patience is rewarded. "If we had . 
poshed Malick before he was ready, then I think he. : 
would have bolted,” Geisler says. He says they.arr 
on a different clock from Hollywood’s. "LInstf 
producer friends who do a picture every three y^hs : 
and sometimes it takes us 10 years to get a preset': 
into production. But at the end of 10 years there wiH : 
be The Thin Red Line,’ ’The White Hotel’ aniTfi 
the Boom Boom Room.' So the average is the Sane; 
and I’d rather have my name on these three moving 
than on the kind of work you can knock off iri a 
couple of years.” *" 








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PEOPLE 


T HE man once regarded as one of 
America’s most powerful mobsters 
drew' the head of a roaring lion while in 
solitary confinement, and the result is 
the star doodle in a Florida auction for 
the poor. John Gotti made the sketch at 
a federal prison in Marion, Illinois, 
where he is serving a life sentence for 
murder and racketeering. The drawing 
will go up for auction Oct 25 in the 
Seventh Annual Celebrity Doodle Art 
Auction. Other celebrity artists include 
Muhammad Ali, Wilt Chamberlain, 
Cher, Clint Eastwood, Bob Hope, 
Steve Martin, Grace Slick, John 
Travolta and Manuel Noriega, 
P anama ’s former dictator, who is 
serving a 40-year prison sentence for 
drug trafficking. Auction proceeds will 
go to a Miami-based food bank. 


Michael Douglas’s hand- and foot- 
prints joined those of his father in the 
courtyard of Mann’s Chinese Theatre in 
Hollywood. "I’m very touched to think 
that Michael's footprints will be along- 
side of mine," Kirk Douglas said at the 
ceremony. “I think fus footprints 
should be much bigger than mine.” 
Jack Nicholson, Karl Malden and 
family members cheered Douglas, who 
won a best actor Oscar in 1988 for his 
role in "Wall Street.” 


President BUI Clinton met with the 
Colombian novelist Gabriel Garcia 
Marquez to discuss "their mutual lit- 
erary’ interests," a White House spokes- 
woman said. She said Clinton was a big 
fan of the Nobel prize-winning author, 
whose works include "One Hundred 
Years of Solitude” and "Love in the 
Time of Cholera." 


The American model Christie 
Brinkley has filed a $42 million libel 
suit against the National Enquirer, 
charging that the supermarket tabloid 
published "malicious lies" about her 
personal life. Brinkley, 45. said the 





RM PwwriRenttt* 

STAR QUALITY — The bluesman John Lee Hooker at ceremonies for 
the unveiling of his star on the Hollywood Walk of Fame. The guitarist 
recently celebrated his 80th birthday and 50 years in the music industry. 


newspaper falsely reported she had a 
nervous breakdown, suffered delusions 
and paranoia, had an irrational fear of 
cows, and became a "wild shopahol- 
ic" who spent $30,000 a day on 
clothes. Court papers,* filed in New 
York, included copies of Enquirer ar- 
ticles with headlines such as, "Christie 
Cracks Up — And Calls the Cops" and 
"Christie Turns Down Dying Dad's 
Last Wish." “I have tolerated the En- 
quirer’s outrageous fabrications about 
my personal life long enough," 


Britain Honors Simone Jeil of France 


Agence France-Pmsc 

P ARIS — Britain's ambassador to 
France has presented an honorary 
knighthood to Simone Veil, a former 
French government minister and a sur- 
vivor of the Nazi death camps in 
World War U. 

She is the fust Frenchwoman to be 


Veil, who was deported to the Aus- 
chwitz and Bergcn-Belsen concentra- 
tion camps, was liberated by British 
troops at the war’s end. 

She subsequently went into politics, 
and has been a key figure in strength- 
ening Franco-British entente. 

Veil made headlines in 1992 bv 

n -t n V 


i * 7 iimiui H iwa ui QV 

so honored. publicly calling on President Francois 

Veil. 70. who 1S also a former pres- Mmerrand lo make "a spontaneous 
idem of the European Parliament, was gesture f rom ihe heart" andrecognize 
named a Dame Commander ot the the responsibility of France's wmhne 
Bntish Empire .an honorary title Vichy government for crimes agata 
equivalent to a British knighthood. the Jews. 6 

Ambassador Sir Michael Jay called Her medal was bestowed at a cer 
Veil "one of the great figures of emonv at the British Embassy that w » 
France and of Europe today as he attended by French and British Doliti 
bestowed the silver gilt medal — a cions including Edouard Bahadur a 
rare honor selected by Britain's For- former French prime minister and 
eign Office. Britain’s Lord and Lady Jenkins 


Brinkley said in a statement. "I have to 
protect ray reputation and can no longer 
allow these malicious lies to go un- 
challenged." The Enquirer declined to 
comment. 


Crown Prince Willem Alexander 
of the Netherlands says he is in no hairy 
to get married. "I still have plenty <» 
time," the 30-year-old prince said in a 
television interview, noting that his fa- 
ther, Prince Claus, had not wed until he 
was 39. The prince declined to discuss 
his friendship with Emilie Bremers, 
with whom he was recently photo- 
graphed. ‘ ‘The day I make my choice, I 
will let you know," he said. “I won’t 

say anything until then,” 

□ " 

pie U.S. film director Sydney Pol- 
■?.«d the Italian actress Gina Lol- 
lobngida will be guests of hontr at a 
gala dinner in the Belgian city of Ghent 
next month during the 24th Flemish 
international film festival. 

□ 

D-« e o en years a * er construction began, 
Sul Gates and his family finally will 
settle into their new waterfront home. A 
company spokesman said the Microsoft 
chairman, his wife, Melinda, and theii 
i - year-old daughter, Jennifer Kather- 

tv e 'u ar *ri. mov * n E “ t0 hohse this 
week. The mansion on I-ake Washing- 

HJ’ i iear Seattle, reportedly has cost 
Gates more rhan $50 million. 



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