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The World’s Dally Newspaper 


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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POSIT* 1 KmT{ 'YU 

— - — — Xu tey/ ■*=•/ 

London, Tuesday, September 16, 1997 \\£*-. y ^ / 


No. 35,627 


'Southeast Asia: 
.Domino Effect? 

g -Analysts Fear Unrest in Wake 
OfThai Financial Collapse 

By Michael Richardson 

International Herald Tri bune 

SINGAPORE As its economy slows sharply, Thai- 
land risks l arge-scale job Josses, rising unemployment, 
1 labor protests and social unrest in a chain reaction that 
could spread to other parts of Southeast Asia, analysts 
' say. 

While Th a il a nd has clearly been the country most 
seriously affected by the economic and financial prob- 
lems afflicting the region, economists and investors are 
also concerned that the slowdown in Indonesia and the 
V Philippines could significantly increase unemployment 
there as.wen. 

Both have large populations and must keep their 
econ om ie s expanding quickly to provide employment for 

f 1 ; a huge pool of jobless and underemployed people, while 
creating new jobs for an army of people who enter the 
market each year. 

T h a ilan d’s first labor protest came Saturday, when 
' several thousand workers rallied in Bangkok to demand 
• government help, saying they had been hard hit by the 
^ country’s economic woes. 

And Indonesia announced Friday that it won Id develop 
. a policy to deal with the rising numbers of layoffs and job 
seekers. “We are facing an oversupply of labor,' * said the 
" nation’s manpower minister, Abdul Latief. 

Thailand is suffering its worst economic slowdown 
since the early 1960s. After averaging 9 percent growth 
in the past decade, some economists believe the economy 
_ will be lucky to grow at all in 1997 or 1998. 

Growth also is expected to slow in Indonesia and the 
. Philippines; not nearly as dramatically as in Thailand, but 
, enough to make their governments anxious about the 
■ consequences of rising joblessness and part-time em- 
. ploymenL 

On Monday. Thailand’s central bank reported that 
■ foreign reserves had fallen by $2 billion, to $25.9 billion, 
despite receiving $ 1.6 billion in emergency aid from the 
^ International Monetary Fund. And in Kuala Lumpur, the 

■ Bakun Hydroelectric Coro. delayed a 3 billion ringgit 
" ’ ($1.12 billion) initial public offering Monday, Malay- 

sia’s largest (Page 13) 

The Thai finance minister, Thanong Bidaya, said re- 
cently that thecoutraction of die economy was expected to 
cause a million people to lose their jobs. He said that about 
3 percent of the workforce, some 1.2 nrillion’people. were 

See JOBS, Page S 



Yeltsin Denounces 
Russian ‘Tycoons’ 

In Kremlin Talk, He Demands 
They Halt Abuse of Reformers 


AkunJrr NMnakiufThc Aaortacd Ptm 

Boris Yeltsin making his point Monday, when he chastised six Russian tycoons for attacking 
his team of reformers and ordered them to make amends to two deputy prime ministers. 


In China 9 Plea on Tiananmen 

Purged Party Chief Seeks Reassessment of Crackdown 


By Steven Mufson 

Washington Post Service 

BEIJING — Zhao Ziyang, the former Chinese 
Communist Puny chief who was purged during 
student demonstrations for democracy in 1989, has 
appealed to party delegates for a reassessment of 
tne protest movement and for a resumption of 
political reform. 

In a typewritten letter dated SepL 12, addressed 
to the members of the Communist Party’s congress 
presidium. Mr. Zhao said that the party's decision 
to label the protests a “counterrevolutionary re- 
bellion” was baseless. 

He said that the crackdown on June 4, 1989, in 
which hundreds of people were killed, damaged 
relations between the party and people, Beijing and 
Taiwan, and China and other nations. 

“No small price was paid by everyone for that 


kind of action and solution,” the letter stressed. 

“Sooner or later the problem of reassessing the 
June 4 incident will be solved.” he added. "Even if 
time has dragged on, it is not easily forgotten by the 
people. Solving it sooner is better than later, on 
one's own accord better than at someone else’s 
prodding, when the situation is stable better than 
when the situation is not” 

The tetter, first obtained by die Hong Kong 
Apple Daily and by the Reuters news agency, was 
circulating in Beijing on Monday. Typed with 
Chinese language computer software, the letter 
bears no signature, raising some concern about its 
authenticity. 

A spokesman for the party congress, Xu 
Guangchun. said he had not seen the letter. But 
its style and content is consistent with Mr. Zhao’s 

See CHINA, Page 8 . 


For Private Eyes, On-Line Spying Replaces Legwork 


By Nina Bernstein 

New York Times Service 

NEW YORK — On the night of Oct 8, 1992. the 
towering pipes of the Texaco refinery in Wilmington, 
California, vented a sudden rise in pressure. Then the 
familiar hiss became a-deafening screech, and a fiery 


r-Tiwniral fames as far as five miles (eight kilometers) 
away. Eventually more than 4,700 property-damage 
claims and 14,000 claims of personal injury were filed 
against Texaco. 


■s*. 


Netanyahu 
Faults New 
Settler Move 


By Serge Schmemann 

. New York Times Service __ 

JERUSALEM — Prime Minister 
Benjamin Netanyahu on Monday con- 
demned the action of militant Jewish 
settlers who moved overnight into a 
house in Arab East Jerusalem, raising a 
new focus of tension along the volatile 
Arab-lsraeli divideL 

Apart from some stone-throwing by 
Palestinians late Sunday, when the set- 
tlers occupied the house, no violence 
broke out Monday. Security forces were 
cm ■ high alert in Jerusalem and 
throughout Palestinian areas, but there 
was no indication whether the govern- 
ment intended to try to evacuate the 
settlers. 

•• The action drew sharp condemnation 
from Palestinian officials and Israeli 
peace groups, and strong support from 
tiie Israeli right. 

■’ • For Mr; Netanyahu, the action was an 
embarrassment mid a challenge. 

- It earn e immediately after a visit by 
Secretary of State Madeleine Albright 
during which she urged Israel to cease 
actions. that provoke the Palestinians, 

See ISRAEL, Page 9 

~ ■ Newsstand Prices 

Bahrain 1XOO BD Malta. 55 c 

Cyprus .C £ 1 .00 Nigeria .-125,00 Nafra 

Denmark -.-14.00 DKr Oman 1 -250 OR 

Finland 1Z00FM Qatar 10.00 OR 

Gtoraftar— .£0.85 Rep. Ireland. JR E LOO 

Great Britain -8 080 Sautf Arabia .-.10 SR 

Egypt- if 5.50 & Afrfca._.R12 + VAT 

Jordan 1.250 JD UAE. 10.00 Dh 

Kenya —X SH. 160 U.S. ML (BjrO-JI-20 
Kuwait, —.__700 FBs aifebM.*. Zhi53MQ 


Soon after the blast, Texaco hired a private detective. 
But his mission was not to investigate the causes of the 
explosion; it was to investigate the claimants and 
lawyers whose class-action lawsuits threatened to cost 
Texaco millions of dollars in damages. 

The nearly five-year investigation the detective 
unleashed offers a powerful illustration of the world of 
computer technology and information marketing that 
has turned private detectives into a vanguard of pri- 
vacy invasion. 

Through commercial data bases unknown to most 
citizens, law-enforcement computer files that are sup- 
posed to be off limits to civilians, electronic sur- 
veillance equipment readily sold in spy shops, and 


AGENDA 


simple telephone scams common in the information 
underground, Texaco's private eye quickly amassed 
sensitive knowledge about dozens of people involved 
in the explosion claims, according to court documents, 
interviews and sworn statements. 

One claimant, a 23-year-old mother named Rossana 
Rivera, was frightened to learn that the investigator 
had generated a five-page computer prim-out from her 
name alone. 

The private eye had found her Social Security 
number, date of birth, every address where she had 
ever lived, the names and telephone numbers of past 

See PRIVACY, Page 8 


By David Hoffman 

Washington Post Service 

MOSCOW — President Boris 
Yeftsin summoned Russia's powerful 
business tycoons to the Kremlin for an 
extraordinary tongue-lashing on Mon- 
day, demanding that the country's 
wealthiest figures stop attacking his 
team of young reformers. 

Mr. Yeltsin, who was re-elected last 
year in large pan because of the support 
of seven industrialists and bankers, 
called six of them to an urgent meeting 
at which he insisted they make “peace" 
with two deputy prime ministers, 
Anatoli Chubais and Boris Nemtsov. 

The meeting put on open display 
what many have described as Russia's 
increasingly oligarchic power structure, 
in which a handful of tycoons and 
bankers, with help from the Kremlin, 
have taken a dominant position in foe 
country’s rocky transition from social- 
ism to free markets. 

The might of foe new capitalists is 
such that President Yeltsin appeared to 
be the supplicant, insisting that they 
should not wage a damaging political 
war against his government. 

"It won a t do to sling mud at each other 
through the media,” Mr. Yeltsin im- 
plored the magnates, who control two of 
Russia’s three major television networks 
and several of its biggest newspapers. 

In response, the bankers and indus- 
trialists said they would try to work 
more closely with the government, and 
they promised to broaden their number 
so more companies will benefit from 
upcoming sales of state-owned prop- 
erty, including Rosneft, an oil sector 
holding company. 

Critics say the corporate oligarchs 
have been able to grow rich through a 
series of insider sales of state property. 

This has led to large industrial and 
financial conglomerates that have 
stifled competition and failed to un- 
dertake badly needed industrial restruc- 
turing, the critics say. 

Mr. Chubais and Mr. Nemtsov, ap- 
pointed earlier this year, have spear- 
headed a renewed reform effort, which 
has included measures to pay long- 
delayed wages and pensions, restructure 
Russia's energy monopolies, curtail 
housing subsidies and collect back 
taxes. They have been only partly suc- 
cessful. Although Mr. Chubais is widely 
disliked, the latest polls show Mr. 
Nemtsov remains the most popular 
politician in Russia. 

The latest big privatization set off 

S rotes ts that have still not subsided. 

everal of the magnates were angered 
by a sale this summer in which one 
banker, Vladimir Potanin of Unexim- 
bank, outbid several others for a tele- 
communications giant, SvyazinvesL 


Mr. Potanin submitted the highest 
bid, which some said was fair, but the 
losing bidders apparently thought they 
had a promise to win the tender. 

The result was bitter recriminations 
among the business tycoons, as well as 
charges that Mr. Chubais and an ally had 
tilted in favor of Mr. Potanin. 

The ally, Alfred Kokh, head of the 
State Property Committee, was dis- 
missed by Mr. Yeltsin in the wake of the 
controversy. At the same time, Mr. 
Chubais had also publicly taken on 
some of the new oligarchs, saying foe 
government would not be pushed 
around by them. 

But Mr. Chubais and Mr. Nemtsov 
were reported to be feeling isolated and 

See YELTSIN, Page 8 


Local Election 
In Germany 
Stokes Debate 
On the Euro 


Weld Gives Up in Battle for Mexico Post 


The Dollar 


Monday Q A P.M. 
1.7605 
1.6063 
120.175 
5.9165 


previous dose 
1.7715 
18075 
121.00 
5.0575 


Monday ckse previous close 


Monday O A P.M. 
019.41 


previous dose 
92381 


WASHINGTON (AP) — William 
Weld, the moderate Republican nom- 
inated by President Bill Clinton to be 
U.S. ambassador to Mexico, aban- 
doned his fight against Senator Jesse 
Helms on Monday and told foe White 
House to withdraw his nomination. 

Mr. Clinton agreed to do so. 

The former Massachusetts governor 
said he would have beat approved had 
a confirmation hearing had not been 
blocked by Mr. Helms — the con- 
servative North Carolina Republican 
whom Mr. Weld derisively called 
“that man. " 


Norway Labor Party Falling Short, Polls Show 


The governing Labor Party in Nor- 
war fell short of a self-imposed min- 
imum of 36.9 percent of the vote in 
Norway's general election on Monday 
and was expected to resign, two exit 
polls showed. 

Books - Page II* 

Crossword Page 4. 

Opinion - Pages 10-11. 

Sports - Pages 20-21. 


The IHT on-frne vAyw.iht.com 


A survey for NRK public television 
published as polling closed indicated 
that Labor would win 34.4 percent of 
the vote. 

A poll for independent TV2 pat 
Labor at 33.8 percent. Page 5. 

PAGE TWO 

The Book Tha t's Titillating Beijing 

EUROPE Pa 9 B *■ 

Peace Talks Start With Sinn Fein 



Slcptal r-Tmu^PlPwc 


A New Look to Hong Kong Shopping 

Has Hong Kong lost its status as foe shop-'til-you-drop capital of foe world? High 
fashion has flopped for foe first time since the colony took up designer labels 25 
years ago. Up-market shops are struggling for customers. For style and inspiration, 
shops are looking to the mainland. Here comes Chinese design. Page 12. 


By John Vinocur 

International Herald Tribune 

HAMBURG — By early Sunday 
evening, returns from Hamburg’s re- 
gional election will be complete, ac- 
companied by a series of permutations 
about how a new local coalition could 
provide a glimpse of alliances affecting 
the national elections next year. But 
whatever foe result here, the most in- 
teresting part of the contest has already 
played itself out. 

The compelling elemenl of the cam- 
paign has been that the leading can- 
didate of the Social Democratic Party, 
Henning Voscherau, put himself for- 
ward as a man who distrusts foe euro, 
the European Union's common cur- 
rency-to-be. Coming from a skilled 

A decision by EU finance ministers 
lifts Europe’s markets. Page 13. 

politician, who is regarded as an in- 
ternationalist and likely finance min- 
ister if the Social Democrats oust Chan- 
cellor Helmut Kohl in October 1998, the 
position makes a clear statement about 
the reality of Germany's palpable dis- 
comfort over the prospect of giving up 
the Deutsche mark for a weaker euro. 

As a candidate facing re-election in a 
city with an open, Hanseatic trading 
history, close relations wifo Scand- 
inavia and a reputation for Anglophilia, 
Mr. Voscherau obviously fell he was 
taking no risks in attacking the chan- 
cellor’s “bloody minded' 1 drive to 
crown his last term with the euro, and in 
calling for a referendum to decide on its 
adoption. 

At the same time, Mr. Voscherau has 
stayed within the boundaries of respect- 
able debate in Germany by stressing his 
own commitment as a European who 
wants monetary union — “but not a 
currency that, once foe convergence cri- 
teria are fulfilled, citizens won 'r be able 
to find anyone accountable for." 

In saying that something is wrong 
with foe euro, Mr. Voscherau has joined 
a group of important political figures 
cutting across political lines who, wifo 
careful and even tortured phrasing, have 
come down on the side of suggesting 
that a delay of the currency’s start be- 
yond 1999 is reasonable and respon- 
sible, and in no way catastrophic. 

Each of foe central figures has found a 
way to get around nationalistic and emo- 
tional explanations for his position. But 
on foe most elemental political level foe 
rejection of foe earo turns, in fact, on a 
combination of both factors: The con- 
viction that the Germans are being forced 
to give up the mark, the country's sym- 
boiof achievement and security, wifoour 
getting anything good in return. 

See EURO, Page 8 


U.S. Version of Treaty Banning Land Mines Fails to Find Support 


By Raymond Bonner 

Sew Times Service 

OSLO — An offer by Washington to sign a 
treaty banning land mines if exceptions are made 
that would allow foe United States to continue 
using them in restricted situations has met with a 
generally negative response at a conference in Oslo 
5 . eni-h a treatv for tWO 


would allow the United States to continue using 
land anti-personnel mines in connection wifo anti- 
tank mines. They would also give a country foe 
right to withdraw from the treaty during a time of 
war and would postpone foe date of the treaty's 
overall implementation for nine years. 

Mr, Lysyshyn said that Canadahad not proposed 
a nine-year transition period but that there might be 
some room for negotiations. He spoke Monday 


't-STnPo ntiatins such a treaty for two some room ior negotiations. ™ 
rhai has been negoDanng Mon _ night after a meeting of a dozen or so of foe major 

weeks, diplomats from se eral countries that have been pivotal in drafting foe 

. i-, onthucincm for it.” said treaty. ... _ 


9 ^70294"805025 


“Th.r. is not a lot of enthusiasm for it," said treaty. 

E—sSsa-ssfis.*- was 


treaty. 

. On Tuesday, the delegates will convene for what 
is expected to be the final negotiating session, and 
it is hoped that a formal ceremony will be held 

Wednesday. ... . 

During foe two weeks of negotiations here, foe 


United States has been virtually alone, against 
about four-score countries, in insisting on ex- 
ceptions to a complete and immediate ban on land- 
mines. Washington has had lukewarm support 
from Japan, Spain and Poland, diplomats said. 

The Clinton administration’s proposal has been 
described as a compromise and a major shift in foe 
U.S. position. 

But that is not foe way it is seen here. 

“It’s not a compromise, "said Jody Williams, of 
foe Vietnam Veterans Foundation, based in Wash- 
ington, and a coordinator of foe international cam- 
paign to ban land mines. "It’s a repackaging of 
their bottom-line demands.” 

While more cautious in their language and re- 
luctant to speak on foe record, diplomats from 
several countries agreed. 


“It is not a major shift,” said Jackie Seiebi. a 
South African diplomat and chairman of foe con- 
ference, choosing his words carefully. 

The proposals did, however, reflect a willing- 
ness on foe part of the United States to negotiate, 
and that was a shift, Mr. Seiebi said. 

Until this weekend, foe Clinton administration 
had said that it would sign a treaty only if it allowed 
both the use of mines on foe Korean Peninsula and 
so-called smart mines, which are intended to self- 
destruct after a certain period. 

That was presented as a position not open to 
negotiation. 

Under foe new Clinton proposals, a country 
would have the right to withdraw if it found itself 

See MINES, Page 8 








INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEP TEMBER 16, 1997 

PAGE TWO 




Book Buzz in Beijing / A Juicy Blockbuster 


A Glimpse of the Other Side of China s Elite 


By Seth Faison 

York Times Service 


B EIJING — InthemidstofChina s political 
season, the honest book in the nation s 
capital is a juicy novel of political intrigue, 
sex and murder. , , 

Yet, what draws most readers is not just the lively 
narrative about a Beijing party chief with mrBron. 
of dollars and many mistresses at hand or the (tona 
when his deputy rums up dead in a ravine outside the 
city Rather, the fascination lies in us remarkable 
resemblance to a real case that struck at the heart of 
China’s leadership. 

As with “Primaiy Colors, me book that de- 
scribed with verisimilitude the 1992 presidential 
campaign of a Democrat from Arkansas, readers in 
Beijing°have little trouble picking out the main 
playera in the real-life scandal that parallels the 

book. . 

The best evidence that reality is mirrored by the 
book, called “The Wrath of Heaven,” may have 
come when the alarmed authorities banned its dis- 
tribution in Beijing. As might be expected, that only 
made it even more sought after. 

Sunday, as delegates to the 15th Communist 
Party Congress met in the Great Hall of the People 
to praise their leaders' valor, the book depicting 
them in an entirely different light was easily avail- 
able ar many bookstalls around the city — a sign of 
how much lies beyond those leaders’ control in 
contemporary China. 

“These copies are all pirated,” said a bookseller 
at one stall on the Avenue of Eternal Peace, after 
fetching a copy he had hidden beneath a row of 
newspapers splashed with stories about the party 
congress. “I feel bad for the author. Such a suc- 
cessful book, and he’s not makin g any money.” 

Those looking for clues about the nature of life 
here after the death of Deng Xiaoping might look 
past the party congress, with its grand unveiling of 
plans for economic reform, and focus instead on the 
phenomenon of this book. 

It reflects the ever-widening gap between the 
official version of on honorable leadership and the 
street-level view of that leadership as a self-selected 
cabal of money-hungry and power-grabbing men 
whose lives are far removed from those of ordinary 
folk. 

And the way it was published by a state-owned 
outfit, and then widely pirated and semiopenly 
hawked after it was banned, shows how what is 
permitted in China is often determined by a mixture 
of surging market demand, official ineptitude and 
general confusion among the authorities. 

Not long ago, politically sensitive articles and 
books were usually the work of behind-the-scenes 
power plays, with one leader or faction trying to 
discredit another. Yet today, many Beijing wnters 
agree that the publication of “The Wrath of Heav- 
en” was driven less by politics than by a desire to 
make money. 

To most people who follow politics in Beijing — 
and it is hard to find one who has not read "The 
Wrath of Heaven" — the book’s appeal lies partly 
in its story, with many details doubtless exaggerated 
for dramatic effect, but even more in how it captures 
the flavor of life among senior leaders. 

“It’s the first book to describe the extensive 
amounts of corruption by a senior leader — the 
millions of dollars, the endless stream of women," 
said one writer in Beijing. "It also pierces the myth 


Sp* V 



»S bkcr/Hir WM Hno* 


A portrait of Deng Xiaoping greets visitors to an exhibition on China's 
achievements* which is running in Beijing as the nation's leadership gathers for 
the 15th Communist Party Congress in the Great Hall of the People. 


that corruption in China is one or two bad eggs. It’s 
actually a problem that cuts right through the lead- 
ership." 

Since the author used a pseudonym. Fang Wen, 
there was wide speculation at first that it had been 
written by an official with access to internal reports 
about the actual case. But several writers say the real 
author is Chen Fang, a man in his 40s who had 
already written several unsuccessful novels. 

Mr. Chen apparently first submitted the novel to 
a publishing house in Beijing, where an editor 
turned it down and circulated an internal report on 
his decision, so that by the time a publisher in Inner 
Mongolia brought it out earlier this year, many 
officials and editors already knew his identity. 
Efforts to reach the author for this article were 
unsuccessful. 


E 


DITORS at the Yuanfang Publishing 
House in Inner Mongolia refused to discuss 
the circumstances surrounding the book. 
They only registered for a run of 5,000 
copies in the first printing, but writers and editors in 
Beijing say hundreds of thousands, if not millions, 
of pirated copies have been reprinted elsewhere. 

Just last week, the authorities announced that the 
former Beijing party chief in the real case, Chen 
Xitong, would face prosecution on corruption 
charges. 

Though the details of his alleged crimes were not 
publicized, an internal investigation is said to have 
found that he embezzled at least $24 million and 
amassed a collection of private homes where he 
indulged a taste for entertaining young female tele- 
vision newscasters. 


His empire crumbled only after a financial scandal 
in 1995 implicated one of his closest aides, a deputy 
mayor named Wang Baosen, who was soon found 
outside Beijing on the side of a hill with a ballet hole 
in his head. The death was officially deemed a 
suicide, but keeping the exact circumstances seem 
stirred speculation about its true cause. 

In "The Wrath of Heaven,” the deputy mayor is 
killed by the son and accomplice of the party chief. 
The truth remains a mystery, but the party chief s 
real son, Chen Xiaotong, was sentenced in June to 
12 years in prison for taking bribes and misusing 
public funds. 

The father, Chen Xitong. was forced to resign as 
party chief in April 1995. Dozens of his assistants 
and staff members have been arrested or forced to 


resign. 

His political demise cannot have been unrelated 
to his bitter. long-running rivalry with President 
Jiang Zemin. 

The two men competed for the top job of Com- 
munist Party general secretary in 1989, after the 
violent crackdown on demonstrations in Tianan- 
men Square. When the job went to Mr. Jiang, then 
the party boss of Shanghai. Mr. Chen is said to have 
complained that he had been cheated. 

As for the author, who is no relation to the 
disgraced politician though he has the same sur- 
name, writers say he is unlikely to be punished. 
After all, his book, as "Primary Colors" did, re- 
flects a real story but on close reading does not give 
away any state secrets. 

"This book is no big deal," said the bookseller. 
"All the leaders involved have already stepped 
down." 



Central Asia War 
Tests Pentagon’s Reac 




By R. Jeffrey Smith 

Washington Post Service 


SHYMKENT, Kazakstan — In an 
unprecedented display of U.S. military 
interest Central Asia, which holds en- 
ergy and mineral riches, 500 U.S. para- 
troopers jumped Monday from air force 
cargo planes onto an arid plateau near 
hereto practice international peacekeep- 
ing. 

The weekiong U.S.-led exercise is 
being conducted jointly with troops from 
Turkey, Russia and four other countries 
and has been billed as the longest air- 
borne military expedition in history. 

Troops from the U.S. Army’s S2d 
Airborne Division embarked early Sun- 
day from Fort Bragg, North Carolina, 
for the 19-hour nonstop flight to this 
former Soviet republic. Three in-flight 
refuelings were required. 

tty sp ending an es timated million to 

rapidly deploy forces 7,700 miles (12,300 
kilometers) from home, the Pentagon is 
demonstrating its desire to encourage 
political independence and stability 
among friendly nations in this region, 
according to several officials here. 

They said Kazakstari and the two other 
key participants in the exercise — 
Kyrgyzstan and Uzbekistan — were 
situated at a key commercial and ^polit- 
ical crossroads among Europe, Asia and 
the Middle East, in a region formerly part 
of or dominated by the Soviet Union. 

"What we need here are independent 
sovereign states that are able to defend 
themselves,” said Catherine Kelleher, a 
deputy assistant U.S. defense secretary, 
who arrived Sunday to observe. She cited 
the "potential for conflict, as well as the 
presence of enormous energy resources’ ’ 
in justifying U.S. involvement 

She did not specify what conflicts 
worried Washington the most but eth- 
nic or religious tensions exist nearby in 
Afghanistan and Tajikistan as well as in 
Kashmir, parts of which are claimed by 
both India and P akistan. About 1,000 
kilometers (600 miles) southwest of this 
dusty and decrepit Kazak city is Iran, 
which, several officials said, has also 


sought to expand its influencein theai^ 
at the expense of the West But it is the 
region’s immense, untapped deposits! 
miner als and oil that have 


U HUM — ^ 

fate of these Central Asian former 
Wet republics could affect the world 
balance of power. The Caspian Sea^ 
1300 kilometers northwest of here, is 
home to a pool of oil that exceeds the- 
North Sea’s reserves and rivals those 
beneath Saudi Arabia and Kuwait 2 3 
In Turkmenistan, to the southwest 
specialists say, a pool of natu r a l ga$ 
could be the largest in the world. Ak M 
though most of these resources are likely 
to be consumed by China, India and 
other neighboring nations rather than by 
the United States, the American oaJL 
companies Chevron Corp. and Mobil 
Corp. already have committed nearly $7; 
million to help develop the Tengiz oil; 
fields surrounding the Caspian Sea. 

A total of 1,329 troops are raking part; 
in the exercise, the premise for which is 
an imaginary United Nations request for-, 
assistance in enforcing the settlement of 
a border dispute and quelling local ojh 
position from separatist forces that arC 
assisted by a foreign power. ,1 

The first person to parachute was, 
General John Sheehan or the U.S. Mar- 
ine Cores, commander in chief of the.- 
U.S. Atlantic Command, which is spoilt 
soring the exercise. General Sheehan/ 
who had been in the running to become* 
chair man of the Joint Chiefs Of Staff bub* 
was passed over, is to retire this week. 

[‘‘The message I would leave is that- 
there is no nation on the face of the Earth i 
that we cannot get to,” General Sheehan' 
said, news agencies reported.] c" 
Some of the forces are from a newly 
formed battalion consisting of troops* 
from Uzbekistan, Kazakstan and. 
Kyrgyzstan, Islamic countries that were, 
forged in 1991 from the shards of 
former Soviet Union and that remain 
economic rivals. • ■* 

Russian military officers were heay-.. 
ily involved in preparations for the ex- 
ercise, and 49 Russian paratroops are; 
taking part. -r 


TRAVEL UPDATE 


A Choice of 15 Movies 
On Singapore Airlines 


SINGAPORE (AFP) — Singapore 
Airlines unveiled on Monday what was 
said to be the world’s most advanced in- 
flight entertainment system and an- 
nounced that gaming would be intro- . . 

duced in the next few months. Malaysia JLanCIS 747 

A spokesman for the airline said the J 


area extending from Tokyo to Okinawa. 
Prefecture, southwest of Kyushu, Japan: 
Broadcasting Corp- reported. 

Airlines canceled about 225 flighBf/ 
mostly to and from Kyushu, and th£ 
number of cancellations was expected^ 
to increase to more than 270 on Mon- 
day. 


ADVERTISEMENT 


A Matter of Taste 


Did you know there are 
more than 13,000 restaur- 
ants in Hong Kong 1 ? In a 
land of 6 million people, 
that may be the highest per 
capita number of eating 
places in the world. Any 
visit is sure to be an un- 
forgettable eating 
extravaganza. 

Capture the tra- 
ditional ambiance 
at one of Hong 
Kong's most elegant tea- 
houses. the historic Luk Yu 
Teahouse. Served through- 
out the day. dim sum (lit- 
erally meaning “to touch 
the heart") are freshly 
steamed or fried Chinese 
snacks in a great variety of 
delicious forms. 

Experience the tastes of 
old Shanghai at the Regent 
Hotels Club Shanghai, or 
at Shanghai Shanghai in 
the Ritz Carlton. Theme 
cuisine, jazz bands and ci- 




gar divans all help to re- 
create that decadent 1930s 
Paris-of-the-East flavor. 
During the winter, expe- 
rience traditional Chinese 
cold- weather favorites like 
Chinese hot pot or hairy 
crabs, another Shang- 
hainese delic- 
acy. 

If you're feel- 
ing more adven- 
turous, try a hot 
snake soup or dine among 
Hong Kong's movers and 
shakers at Felix, the ultra- 
chic Philippe Starck- 
designed restaurant at the 
top of The Peninsula's new 
tower. 

What's more. Hong 
Kong's simple entry pro- 
cedures mean you don't 
need a visa to start your 
culinary journey m the 
land where wonders never 
cease. 

http:. unit: hkla. org 



Eiytertainment 


Appear* i-\f-rv Wednesday in The IntermarkeL 
Tu adxertix- contact ChristcIIe Forestier in our London office 

Tel: - 44 ! 71 42(1 U329 / Fax: *44 1 71 420 0338 
or \our nearest IHT office or representative. 

■MUKiMii.iari . , . 

iteralb^^unbunc. 

TUI Rl Maun, uuu MTTkJHPU - 





Are You Prepared ? 

1997 & 1998 Will Generate 
Major Currency Moves. 

These moves will directly affect the value of 
your Portfolio. Prepare yourself to take 
advantage of these moves by calling today. 


Peter G. Catrants 

Forex £ Futures 

Specialist 


S UPER IOR Selection of Managed Accounts 

OUTSTANDING Global Currency Analysis 
EXCEPTIONAL Execution Forex or Futures 
MINIMUMS SlOfiOO to $$,000,000 (USD) 

COMMISSION 2-5 FX Spreads Futuna S12S3S 


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THE INTERMARKET 


On Internet 


Classified ads placed in the 
International Herald Tribune 
can now be seen on the IHT web site. 


http://www.iht.com 

A great deal happens at The intermarket 



HIE WORLD'S DAILY NEWSPVPFR 


Death on Kilimanjaro 


Reuters 

DAR ES SALAAM, Tanzania — An 
American died while climbing Mount 
Kilimanjaro, a U.S. Embassy official 
said Monday. 

Michael Hoelscber, in his late 20s, 
died Sept. 6. The announcement was 
delayed until his relations had been in- 
formed. “We can confirm there was a 
death of a young man from the state of 
Colorado, the official said, calling it alti- 
tude-related but giving no other details. 


entertainment system, called Wise men, 
was inaugurated Friday aboard a Boeing 
747-400 on the Singapore-Tokyo route 
and would be installed gradually on 70 
planes. 

The system, developed in collabor- 
ation with Matsushita Electric Indus- 
trial Co., allows first-class and business- 
class passengers to choose from 15 
movies, more than 20 short features, 50 
audio compact discs, 10 Nintendo 
games and news text 


Typhoon Disrupts 
Transport in Japan 

TOKYO (Renters) — A typhoon 


To Test New Airport 

KUALA LUMPUR (AP) — A 
Malaysia Airlines Boeing 747 landed 
Monday at the new Kuala Lumpur 
International Airport in Sepang, 
cheered on by Prime Minister Mahathir 
bin Mohamad and other government 
officials. 

It was the first test landing at the 
airport, which is to open early next year 
and is expected to handle 25 million 
passengers annually at the start and 60 
million by the year 2020. 


Sor- our 

Residential Real Extale . 

wrv rritkiv in TTu 1 Inlrrmarkct 


stalled Monday off the coast of Japan's 
main southwestern island of Kyushu 
after causing the death of a farmer and 
snarling transportation nationwide, the 
Meteorological Agency said. 

Most ferry services were halted in an 


Rapid transit trains were running 
in the San Francisco Bay area Monday, 
the first time since Sept. 6, after a ten- 
tative agreement on a four-year contract 
ended a strike against Bay Area Rapid 
Transit, which normally carries 275,000 
passengers daily. The first 25 trains 
were on time, a dispatcher said. (AP) 


WEATHER 


Europe 



Today 

Tomorrow 


wqh 

LowW 

Hk*l 

LowW 


C/F 

C/F 

C/F 

OF 

Akjmw 

77(80 

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Forecast for Wednesday through Friday, as provided by AccuWaather. Asia 



Unseasonably I 

JoKtmom COT 

North America Europe Asia 

a Wlnd ? f ^ £ 8,d wtth show - Typhoon Olfwa will br.no 

gooo deal ol sunshina ers Irom Scotland and hsavy ra.n 10 southern 

J ho .K No^ tl e r 5, Nonway LO north- Japan Wednesday- ram 

> hr «»“9 h Fr <- em Germany. Pleasant will spread lo nonharn 


da £ i no ugh a could show- with sunshine in London Japan "by Thuredav ^ ‘ pmiv 

rsaav in New Enn- nnrl Paris UniiM —a —L. . ramy 


?Ll h J! r5 _“ a > r En .9‘ a™ 1 Faria. “adrid w* haws sunny ^ ^17. 


■> h0 " ,0,a: r “ ln moy t>« “hUe'Bel^ welted^ 
a hoa y y ln northern and and cool with snowdra. 

Ptobis A Pacific storm win western Spain. Showers Soaking ram will continue 
Wednesday m central In southcentral China. Dry 
weather across the North- Europe, then some sun- with sunshine in Sftarmhat 
wesi shine and comfortable. 


Today 

High UraW 
OF GIF 
3I/B8 13/66 s 
91/88 20338 n 
33/41 24/79 pc 
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29/84 23/73 th 
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28/82 24/7Br 
3080 24/76 r 
3388 22973. 
28 IK 2373 c 
40/104 24/76 s 
32/89 22/71 pc 
33/91 23/77 pc 
31/88 22/71 oh 
31/88 22/71 oh 
31/88 2373 pc 
37/98 28/79 pc 
Phnom Psnh 31/80 2373 an 

Prwwi 3am 24/79 pc 

Rangoon 28/84 23/73 r 

Seoul 34/75 18181 c 

Shanghai 27/80 rfl/eepc 

3 ir mw » «u 30/88 11/70 pc 

TnJpM 20/82 2170 pc 

Tc*yO 24/78 2373 1 

VMIIm 30/86 22/71 C 


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22/71 1M52S 
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31/88 SOI 73e 
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3Q/B6 23/73 Bh 

32/89 23/73 r 
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26/79 12/53 po 
26/79 20/Mpc 
31/88 21/70 pc 
27/00 21/70 pc 
28/82 26/79 th 
2W84 22/71 r 


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North America 


Alpm 

Capa Town 


Tod»y 

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Bo-Ton 

CTacarw 

On*H 

Donvor 

Dotiwl 

HkMWUlU 

Houston 
Lo'. annufei 

Mu™ 


Low W 
CJF 


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Zone i»ee B 
24/76 14/T7 pc 
28/B2 lH/SJpc 
36/97 22/71 j 
3VT3 10/M | 
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31/88 2J/73 S 
»VI 22/71 pc 
3D88 15/M* 
31/08 Mm •&, 


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13/S 7/44 pc 
30/86 IB/66 pc 

24/75 16/01 pc 
3/m 16/59 pc 
IV91 22/71 pc 
27/90 10*0 pc 
36/79 14/57 pe 
32/89 23/73 pc 
42/89 21/70 pc 
W84 1W91 pc 

Wil 25/77 pc 


Today 

High LowW 
OF OF 


Mmupofa 
Montreal 
Nassau 
Now Vatic 

Oftando 

Phoww 

San Fran 

Saaifle 

Tonno 

Voncouvor 

Wa*|tto0an 


26/79 1»6fi| 
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High LowW 
OF CJF 

Sam 12/63 pc 
24/79 1l«c 
32/80 2475 pc 
27/BO 18/84 pc 
33/91 23/73 pc 


Lagos- 

Nnobi 

Tunis 


31A8 21/70 e 
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24/79 19/88 pc 
19/86 11/52 a/) 
20/84 23/73 pc 
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3WW 2S/78PC 38/100 24/75 pc 
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l»33 KV50 sfl Ifl/BI 6/43 an 
3WM 18/04 s 29/84 18/84 pc 


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Caracas 2*84 22/71 pc 28/B2 22/71 1/1 

LimO 22/71 17/62 pe 21/70 177GB DC 

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9 )l\ \[£L£b §E, WEDNESDAY, SEPTEMBER 34, 


PAGE 3' 


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IRS to Audit 
Returns of 
Paula Jones 

Move Follows Rejection 
OfaDeal With Clinton 

j By George Lardner Jr. 

. Washington Post Service 

'WASHINGTON — The Interna] 
Revenue Service has decided to audit 
the income-tax returns of Paula Corbin 
Jones, who is suing President Bill Clin- 

* ton on charges of sexual misconduct, 

I according to the chairman of Ms. 

Jones’s legal defense fund. 

.'/Ms. Jones and her husband, Stephen, 
were notified Friday, a few days after Ms. 
Jones rejected an out-of-court settlement 
urged upon her by her lawyers, according 
to- Susan Carpenter-McMillan, Ms. 
Jones's spokeswoman and chairman of 
the Paula Jones Legal Defense Fund. 
: '-“I call it harassment,” Ms. Car- 
penter-McMillan said Sunday in a tele- 
vision interview, confirming a report in 
The Washington Times. She said the 
IRS was even asking for apartment rent- 
al receipts although the Joneses do not 
claim the rent as a deduction. 

"Ms. Carpenter-McMillan said she 
was not accusing the White House or, 
Mr. Clinton of using the IRS to harass 
his - detractors. “I would never be so 
blunt,” she said. “I just find it very 
j coincidental” 

• [Asked Monday if there was any rea- 
son to believe a White House staffer was 
involved in the matter, Michael Mc- 
Curry, the White House spokesman, said 
“none whatsoever." Reuters reported. 

• 1“ We may do dumb things from time 
to-time, but we are not certifiably in- 
sane." he said. “The IRS, and IRS 
solely, is the one that makes decisions 
about the enforcement of tax laws."] 

"An IRS spokesman, Frank Keith, said 
federal tax law prohibited him from 
saying anything. 

• "“Absent permission from the iax- 


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payer in the form of a written waiver," 
he said, “we cannot confirm or deny 
that an audit is under way." In general, 
he said, “the IRS audits tax returns for 
tax purposes.” 

.Ms. Carpenter-McMillan said this 
was “the first time in their entire lives" 
that either Ms. Jones or her husband had 
\ been picked out for an audit. 

‘ A former Arkansas state employee. 
Ms. Jones sued die president in 1994, 
charging that he asked her to perform oral 
sex in a hotel room in Little Rock on May 
9,1991, when he was governor of Arkan- 
sas. Mr. Clinton denies the allegations. 

-r : . t- j 

i» ± if. 1 .’*.''.: . • i. ■. 

*••• r . . .- V£.:- . . 


INTERNATIONAL HERALD TRIBUNE, TUE SDAY, SEPTEMBER 16, 1 997 

THE AMERICAS 


PAGE 3 


• ... 

•* V 


mx • ■ / 




x,,x 

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HOMEWARD BOUND — A coffin holding the body of a victim of 
the ferry sinking off Haiti being loaded onto a sailboat bound for La 
Gonave Island. About 245 people drowned in the capsizing on Sept 8. 


Away From Politics 

• Two popular diet drugs have been 

voluntarily withdrawn from the mar- 
ket after being linked to serious heart 
damage, the Food and Drug Admin- 
istration announced. The agency recom- 
mended that anyone using Redux, 
known chemically as dexfenfluramine, 
or Pondimin, known as fenfluramine, 
stop taking them and contact their doc- 
tors. Fenfluramine is half of the popular 
diet drug combination called fen-phen. 
The other half, phenrermine, is not af- 
fected, bnt patients can no longer use the 
combination. [AP) 

• A Tokyo-bound United .Airlines 
Boeing 747 carrying 301 passengers 
and a crew of IS hit severe turbulence 


1: -jisa : 0 \ 

<0 3 


Her* -.aiffi p 
-- '"iii. (v 


The Oyster* 


Women Lose Ground on Pay Front 

Cap With Male Wages Is Widening Again, Puzzling Economists 


about 20 minutes out of Chicago, in- 
juring a flight attendant and three pas- 
sengers. iAPi 

• A virulent and apparently new 
strain of bacteria killed four newborn 
babies this summer in the intensive care 
unit of Boston's Children's Hospital. 
The hospital closed its neonatal intens- 
ive care unit to new patients on Aug. 29 
and said it was trying to isolate the 
bacteria, which caused overwhelming 
infections of the bloodstreams. [AP) 

• Prosecutors in Arizona have filed 

first-degree murder charges against five 
men who stormed a house in Phoenix 
and killed a young couple inside. The 
men were not bounty hunters, as they 
had claimed, but burglars, the author- 
ities said. (Reuters) 


By Tamar Lewin 

Ne h' York Times Sen-ire 

NEW YORK — After nearly two 
decades in which the wage gap between 
men and women narrowed steadily, it is 
now widening again, causing confusion 
and concern among economists and 
women 's groups alike. 

According to the Bureau of Labor 
Statistics, the median weekly earnings 
of full-time working women are just 
under 75 percent of the median for men, 
down from 77 percent four years ago. 

"It’s a puzzlement," said Francine 
Blau, a Jabor economist at Cornell Uni- 
versity. “In my head, at this point, it 
doesn't mean we're actually going 
backward. It’s more a slowdown, a plat- 
eau, a consolidation after a period of 
rapid social change. The concern is 
what's happened to that robust upward 
trend we had for so many years, and 
what’s going to happen in the future." 

From 1 979 to 1 993, women ‘s median 
earnings rose from 62 percent of men’s 
to 77 percent. In the early 1990s. the 
narrowing gap was widely trumpeted as 
evidence of women's greater opportu- 
nities. greater education and greater 
work experience — trends that were 
predicted to continue indefinitely, 
edging women ever closer to pay 
equity. 

“The narrowing wage gap got a huge 
amount of attention five years ago? ’ 
said Claudia Goldin, an economist at 
Harvard University: 

“But right now, we're a little quiet. 
Questions of gender and economics are 
going to be with us forever, and it’s all 
connected to political and social 
change. The social movements th?t led 
to women's advances came in with great 
force. It was an enormous tide. Now 
we’re coming into a new equilibri- 
um.” 

While some labor economists sug- 
gest tentatively that the gender gap may 
have something to do with welfare re- 
form unleashing a flood of unskilled 
women on the job market, many say it is 
far too soon to say with any certainty 
just what, if anything, the earnings data 
portend. 

“There's definitely something real 
going on, and it's worth worrying about, 
but we don ’i have a good explanation," 
said Jared Bernstein, an economist at the 
Economic Policy Institute, a Washing- 
ton research organization known for lib- 
eral views. 

Many specialists in the field caution 
against concluding that the earnings 
numbers are evidence of growing dis- 
crimination against women. They say it 
is more likely that the numbers reflect 
changes in the makeup of the work 


force, overall economic trends or stat- 
istical flukes, rather than any reversal of 
women's workplace status. 

They point out that while one mea- 
sure of wages — median usual weekly 
earnings of full-time workers — shows 
a steadily widening gap between men 
and women since 1993, another mea- 
sure available only through 1995 — 
annual full-time wages of year-round 


workers — fluctuates slightly, showing 
no steady trend. 

The gap between men and women’s 
annual earnings is larger than in weekly 
earnings in pan because the annual mea- 
sure more fully reflects bonuses and 
occasional overtime pay, areas in which 
men tend to do better than women. 

Generally, younger women workers 
come the closest to men’s pay levels. 


POLITICAL 


White House Keeps 
Wordsmiths in Line 

WASHINGTON — Attention 
White House speechwriters: The term 
“fast track” is no longer in vogue. 
“NAFTA expansion" is banned. As 
President Bill Clintoo opens his drive 
for free -trade legislation, the phrase 
of choice is “Renewal of Traditional 
Trading Authority.” 

It may not have much of a ring, but 
if they can redefine the lingo, ad- 
ministration officials figure, they may 
erase some negative imagery asso- 
ciated with Mr. Clinton's plan, mak- 
ing it more salable to the public. 

Few are more attuned to the power 
of words than the denizens of the 
Clinton White House. Whoever con- 
trols the language controls the debate. 
In an era when voters and politicians 
are afflicted with information over- 
load, the shorthand description of a 
policy proposal necessarily colors the 
popular view of it. 

With that in mind, the wordsmiths 
of the White House have tried to 
rewrite the political lexicon this year 
on such topics as U.S. relations with 
China, the Whitewater investigation 
and social policy. 

“The Clinton administration is the 
most linguistically disciplined oper- 
ation in the history of modem pol- 
itics," said Frank Luntz. a Repub- 
lican pollster known for lecturing his 
clients about the importance of lan- 
guage. “They have no shame. That is 
why what they say is so effective." 

(WP) 

Christian Coalition 
Marshals Its Forces 

ATLANTA — It appeared to be 
another joyous weekend of prayer and 
politics at the Christian Coalition's 


annual convention. But between their 
familiar fu limitations against abor- 
tion, homosexuals and Mr. Clinton, 
many speakers left little doubt that 
they fear the group could lose some of 
its political punch. 

In speech after speech, leaders of 
die largest U.S. organization of re- 
ligious conservatives signaled their 
concents by defiantly, even defen- 
sively, insisting that the Christian Co- 
alition was not about to fade away. 

The heartening news for the co- 
alition at the weekend was that it still 
managed to attract a cavalcade of Re- 
publican luminaries, including seven 
prospective presidential candidates 
who are mindful of the group’s ef- 
fectiveness at turning out voters. 

But many of the 1,000 coalition 
members who gathered here conceded 
in interviews that their organization 
was embarking on a new and perhaps 
arduous journey — most notably as its 
charismatic executive director. Ralph 
Reed, who has been credited with the 
organization’s success, has left to be- 
come a political consultant. 

In addition to Mr. Reed's depar- 
ture. the organization's activities are 
under serious scrutiny by federal of- 
ficials. The Federal Election Com- 
mission is investigating whether the 
coalition made illegal efforts to pro- 
mote Republican candidates, and the 
Internal Revenue Service is examin- 
ing whether the group's actions vi- 
olated its Tax-exempt status. (NYT) 

Quote / Unquote 

David Axelrod, a Chicago-based 
media consultant for Democrats, on 
the impact of fund-raising inquiries 
on Vice President A1 Gore's pres- 
idential aspirations: “The presump- 
tion a few weeks ago was that Gore 
was a prohibitive favorite — impreg- 
nable in this race. A few bricks have 
been kicked loose from that foun- 
dation." (AP) 


The Pearl. 


i * 


■Xvk;: 














Safe inside the Oyster case of a 
Roiex Lady Oyster Perpetual 


resides a movement 


consisting of more than 
two hundred components 


of breathtaking complexity and 
mechanical precision. It 
includes a Perpetual rotor which 


transforms the slightest 


movement into a reserve of power. 
This rotor keeps the main- 


spring at a constant 


\ v 


, " ; h?: optimum tension to 

. ' ensure maximum efficiency 
and reliability. It s just one reason 
why, the more closely one studies 
this Lady Oyster Perpetual, 


the more beautiful it becomes. 








;; 




: W 


% 


ROLEX 

of Geneva 


... j.** r 








-P/ 


L 


PAGE 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 

ASIA/PACIFIC 



The War Vietnam Lost: 
Western ‘Evils’ Take Root 


Go-Go Bars and Prostitution Proliferate 


By Keith B. Richburg 

Washington Post Service 


HANOI — Early last year, Vietnam s 
sometimes puritanical Communist 
rulers opened what they called an all-out 
war against “social evils" — negative 
influences affecting society and tradi- 
tional values as a consequence of the 
country’s opening to the more decadent 
West. 

More than a year and a half later, it 
appears that the war is over — and this 
time, the Vietnamese government has 

IO Here in Hanoi, it does not take long to 
see how far. and how fast, the perceived 
social evils have spread. For example, 
jnst down the road from Hoan Kiem 
Lake, where a large billboard exhorts 
the masses to smash bad influences, 
incl uding prostitution, the Maila disco 
is open for business. A visitor walking 
through the doorway is at first con- 
fronted by the unusual — for Hanoi — 
sight of two scantily clad go-go girls 
dan cing atop two platforms, while 
women along the walls bide their time 
waiting for men, mostly foreign, to boy 
them drinks. 

The bare-midriff dancer theme has 
spread in Hanoi, which traditionally has . 
been among the most staid of Com- 


munist capitals. At Sparks .disco op Lo 
Due Street, which caters to a more local 
clientele, the dancing girls keep the beat 
between sets by a local band playing 
Top 40 bits, while the manager cheerily 
introduces a foreign customer to die 
momma-san. who is in charge of the 


IIU/IIHIN* , W . 

bevy of young girls sporting the tra- 
' Vietnamese ao dm, the sleek. 


ditiooal * ibuwuiwv * — ■ — 

loose-fitting top over wide trousers. 

Hotel massage priors have become 
notorious for offering clients what are 
called “special massages," with ihe 
female workers asking only feat the 
extra charge be added onto the bill later 
as a “tip.” . . . 

With prostitution now a thriving in- 
dustry in Vietnam, concerns about 
AIDS are on the rise. Officially, Vi- 
etnam has about 4,000 cases of infection 
by the AIDS-causing HIV virus, but 
many health experts say the number 
may be far larger because of the ex- 
plosive growth of the sex industry. 
There is very little reliable AIDS testing 
here. 

It is nearly impossible to gauge the 
number of prostitutes in Vietnam, but 
one official estimate puts the number at 
70,000 — a figure that seems far too low 
given the plethora of new karaoke bars, 
massage parlors and discos that cater to 
hookers and their clients. 



2 Hanoi Gangsters 
Get Death Penalty 


Duong Van Khanh being ted away after sentencing Monday in Hanoi. 


Reuters 

HANOI — The leader of a no- 
torious Hanoi gang and his stepbrother 
were sentenced to death Monday after 
one of Communist Vietnam’s biggest 
criminal trials. 

The Hanoi People’s Court saw “ 

other members of Duong Van Khanh s 

gang had received prison terms rang- 
ing from. 3 to 20 years. 

Among those receiving the prison 
terms were four former police ol- 

ficers. . , ,, 

The defendants were tneo on it 

charges, including murder, rape, rob- 
beiy, intentionally causing injury, har- 
boring criminals, disturbing public or- 
der and evading taxes. 


Deputy Defend! 
Hong Kong’s J 
Election Plans 


Reuters 


SL 


HONG KONG — Hong Kong! 


highest ranking riyil servant i 
Mon 


Monday that legislative elections.^ 
1998 would be free and fair, and % 
denied allegations that new electipp 
rules were designed to keep out demo- 

cratic forces. .... - n 

••I’m confident that they will be fr§^ 
fair open and governed by rales that 
transparent,*' said the chief secrete^ 
Anson Chan, who is deputy to.the Hogg 
Kong leader, Tung Chee-hwa. ,. r 
Mrs. Chan’s pledge, before buMnete- 
men at a conference organized by Q& 
American Chamber of Commerce ^ 


Prostitution Is nothing new to Viet- 
nam; during the war years, Saigon 
became infamous for its brothels, 
hookers and pimps offering their ser- 
vices and pleading with GIs to buy 
them a “Saigon tea.” Sexually trans- 


BRIEFLY 


Swiss Freeze Bhutto ’s Accounts 


BERN — The Swiss government said Monday it had 
frozen the hank accounts of former Prime Minister Benazir 
Bhutto of P akistan and those of members of her family as 
part of a corruption investigation. 

Authorities said the federal Police Office had frozen the 
accounts at the request of P akistani authorities, who have 
begun an investigation of corruption charges against Miss 
Bhutto and her husband, Asif Ali Zardari 

The police said four Geneva-based banks where the 
accounts were located had not yet produced any infor- 
mation about the amount of assets held in the accounts and 
safe deposit boxes. 

It did not name the banks, and officials were not im- 
mediately available for comment. ( Reuiers ) 


“We hope to bring out our 13 staffers from Mazar-i 
Sharif on Tuesday, and we are not planning to send people 
back until things settle down there,” said Sarah Russell, 
spokeswoman for the UN Development Program for Af- 
ghanistan. She said she hoped a UN plane would be cleared 
to fly into Mazar-i Sharif on Tuesday. ( Reuters ) 


Toll in Indian Fire Rises to 35 


VISHAKHAPATNAM, India — The death toll has 
climbed to at least 35 people, and more than 100,000 people 
have fled a fire that has ripped through a southern Indian oil 
refinery, officials said Monday. 

The blaze was still raging more than 34 hours after a 
leaking pipeline triggered an explosion at the state-run 
Hindustan Petroleum Corp. refinery in the southeastern 
port city of Vishakhapatnam early Sunday. (Reuters) 


UN to Pull Out of Afghan City Fqt fhe Record 


ISLAMABAD, Pakistan — The United Nations is plan- 
ning to withdraw its staff temporarily from the northern 
Afghan city of Mazar-i Sharif after gunmen looted food, 
cars and equipment valued at millions of dollars, UN 
officials said Monday. 


India and Pakistan are to resume a fragile dialogue in 
New Delhi on Tuesday to try to build trust after tensions 
caused by cross-border artillery duels in the disputed Kash- 
mir region and mutual expulsions of diplomats. ( Reuters ) 


e 


Privatisation Commission 
Government of Pakistan 



REQUIRES 


A FINANCIAL ADVISOR FOR 
THE PRIVATISATION OF 


UNITED BANK LIMITED (UBL) 


The Government of 
Pakistan intends to sell a 
strategic stake in United 
Bank Limited (UBL) 
with management rights 
to a strategic investor. 

A Financial Advisor is 
to be appointed to assist 
the Government of 
Pakistan in this process. 
The Financial Advisor 
will be responsible for all 
activities leading to the 
sale of strategic stake 
and transfer of 
management control to 
a strategic investor. 


and the marketing of the 
proposed sale and 
undertaking appropriate 
post sale activities to 
address and close ail 
legal and commercial 
issues of the transaction. 


Amongst others, the 
responsibilities of 
Financial Advisor will 
include a detailed review 
of present operations of 
UBL, financial 
valuations, structuring 


Expression of interest 
are invited from reputed 
investment banks, 
management 
consultants and 
business houses & 
groups offering financial 
advisory services. 
Application should 
include a brief profile of 
the Institutes/Group and 
a bank draft favouring 
“Privatisation 
Commission, 
Government of 
Pakistan” of Pak 
Rs.1 00.000/- for its 


equivalent US £) on 
account of non 
refundable Processing 
Fee. Detailed Terms of 
Reference for the 
assignment will be 
provided to the parties 
submitting their 
Expression of interest. 


For further information, 
please contact Shahbaz 
Jameel, Project 
Manager, at (9251) 
9201955. 


Proposal duly marked 
“Financial Advisory 
Services for UBL” 
should reach the 
Privatisation 
Commission at the 
following address latest 
by 3:00 p.m. (PST) on 
7th October. 1997 . 


Ahmad Waqar 

Joint Secretary 


Privatisation Commission, Government of Pakistan 

5-A Constitution Avenue, Islamabad 
Phone: (9251) 9203881/9205146 Fax: (9251) 9203076 


ish from their finge rnails and exchan- 
» daisfor conn 


mined diseases became so widespread 

strand 


that a particularly resistant strand, was 
branded “Vietnam Rose” and could 
not be treated with the normal dosage 
of antibiotics. 

After Communist North Vietnam 
routed South Vietnamese forces and 
forcibly united die country in April 
1975, prostitutes were rounded up and 
sent off for rehabilitation in the coun- 
tryside. Journalists there at the time tell 
stories of bar girls scraping the red pol- 


ging their ao dais for common pajamas 
so as not to be recognized. 

What is new, however, is that pros- 
titution — the most visible of the coun- 
try’s “social evils” — has spread so 
openly here in the north, to Hanoi. 

Early last year, Vietnamese officials 
became so concerned about the growing 
problem — not just prostitution, bat also 
drugs, and pornographic and violent 
movies and songs — that the party and 
government began a campaign to stamp 
out the Western roL The giant bill- 
boards, like the one by Hoan Kiem lake, 
were erected, warning against 
gambling, illicit sex and a variety of 
other vices. Unlicensed massage parlors 


were shut down, and the others were 

_ ... ?,♦ onn 


ordered to keep their rooms well-lit and 
visible from the 


visioie nuiu uic outside. Karaoke bars, 
too, were told that dark-tinted doors and 
windows were out; dear glass was m. 

Explaining the crackdown in January 
1996, Deputy Foreign Minister Le Mai 
said, “We" tty not to become 
Bangkok.” 

Mr. Le, who held the post from 1990 
until his last year, added: “When 
we launched the market economy, we 
started to have these problems, and we 
are trying to stop it before it’s too 
late.” 

Now, though, it looks as if Vietnam s 
anti-evil cam paign may have been too 
little, too late. 



was questioned by congressmra. £p 
Hong Kong’s legislative election 
scheduled for May. 





-/?: 


/ r i 


*V 




Mr. Tung, picked by Beijing to lead 
Hong Kong after it was handed 


»™"e 7 — r , - 

China on July 1, has proposed new 

ground rules for the elections that wjjl 
disenfranchise about 2 million voter! 
Only 180,000 will be eligible to vote^’ 
The Democratic Party leader. Marijp 
Lee, called Mrs. Chan’s comments 
“ highl y unfortunate.” 

“It is preposterous to say that 
Tung’s new elect caul system, is -r 
great l ea p backwards for ’ 
he said in a statement. 



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E, WEDNESDAY, SEPTEMBER 24^1997 


PAGE 3 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 

EUROPE 



PAGE 5 


Sinn Fein Present as Ulster Peace Talks Begin 


-; By James F. Clarity 

-- ;' New York Times Service 

BELFAST — For the first time since 
Ireland \vas divided in 1922 into the 
gdependeut Irish Free State and the 
winsh province of Ulster, Sinn Fein, 
‘the political wing of the Irish Repub- 
lican Army, entered formal, broad- 
■Msed peace negotiations on Monday. 

" The talks are aimed at ending the 
secta rian warfare that has killed 3,225 
^persons in Northern Ireland since 1969. 
■Fames representing Ulster's Protestant 
majority stayed away from the opening 
Session of the talks, which were attended 
tty the . British and Irish governments, 
agid five other political groups. 

. - ‘ But David Trimble, head of the Ulster 
\ ‘jr^uonist Party, the largest in the 
!£"“*• said ^ ex pecied to join the 
jSr?. “a® - soon as possible." Other, 
Protestant parties were expec- 
to follow him into the negotiations, 
TKld on the fifth floor of Castle Build- 
the Stormont section of Belfast, 
vl- j jlJ*® cou |^ be the beginning of the 
!®Dd of conflict on this island," said 
^ dams * the Sinn Fein president, 
he entered the drab office building 
■where the talks convened. “I t hink the 
substantive talks will start this after- 
noon," he said. 

'Mr. Adams parried reporters’ ques- 


BRIEFLY 


It Could Be the 6 Beginning of the End 
Of 75-Year Conflict, Adams Declares 


tions about Sinn Fein ’s relationship with 
the IRA and the IRA statement last week 
that it did not consider itself bound by 
the principles of nonviolence tha t Mr. 
Adams had subscribed to for his party. 

Sinn Fein was admitted to the talks by 
the Irish and British governments after a 
new cease-fire by the IRA, now in its 
ninth week, was judged genuine by the 
British Northern Ireland Secretary, Mo 
Mowlam. 

Many experts say they feed the Re- 
publicans have, in effect, bombed their 
way to the negotiating table. Others say 
that the violence delayed the acceptance 
of Sinn Fein as negotiating partners. 

At noon, as he entered the Castle 
Buildings, where he had been blocked 
on previous, histrionic, attempts to join' 
the talks, Mr. Adams was asked about 
the IRA_ He said the guerrillas were a 
separate cxganization from Sinn Fein, 
an assertion he makes regularly al- 
though most people, including Cath- 
olics. do not believe it is true. He said the 
timing of the IRA statement, two days 
after he had promised to adhere to the 
nonviolence principles, was “unfortu- 
nate.” 


The IRA statement said the guerrillas 
had “problems’’ with some of Che prin- 
ciples, and restated its position mat It 
would not disarm until a final settlement 
was agreed. The statement was clearly 
meant to emphasize that if the IRA 
dissented from any agreement reached, 
it would feel justified in resuming its 
"armed struggle." 

Since 1969, the IRA has been re- 
sponsible for more than half of the 
killings, which include about 800 po- 
licemen and British Army soldiers. To 
indicate that there was no serious policy 
split between the two organizations, the 
IRA urged all Republicans to support 
Sinn Fein’s efforts at the talks. 

But the statements drew instant anger 
from Protestant leaders, including Mr. 
Trimble, who used it as a reason for 
delaying their entry to the talks. Mr. 
Adams said of the Ulster Unionist Party, 
"If they’re not here today, they'll be 
here tomorrow, or the day after, or the 
day after that" 

Mr. Adams made some remarks in 
Gaelic, which he studied in prison. But 
he was careful not to declaim the Re- 
publican slogan, tiochfaidh ar la or 


“our day will come," considered bel- 
ligerent by Protestants and moderate 
Catholics. 

Shortly after Mr. Adams entered 
Castle Buildings, Mr. Trimble said he 
wanned to enter the talks “as soon as 
possible," bur wanted to study the ne- 
gotiating agenda. 

Similar statements were issued by 
two smaller Protestant parties linVi-ri to 
paramilitary groups. But the Reverend 
Ian Paisley, head of the hard-line Demo- 
cratic Unionist Party, said he was boy- 
cotting the talks and asked their chair- 
man, the former U.S. senator George 
Mitchell, to disqualify Sinn Fein, on the 
ground that \hcy were not truly com- 
mitted to nonviolence. 

It was not clear whether Mr. Trimble 
and his party would face Sinn Fein in the 
conference room. He was expected to 
discuss with Mr. Mitchell whether he 
would be at the table, or in a separate 
room, with intermediaries moving be- 
tween his party and Sinn Fein and the 
others. 

Mr. Mitchell was brought into the 

Britain changed its historic policy of 
refusing outside help to settle what it 
considered internal problems. Virtually 
all parties now feel that the peace effort 
could not now survive if Mr. Mitchell 
were to quit 






EU May Return Envoys to Iran 

BRUSSELS — The European Union agreed in prin- 
siple Monday to send its ambassadors back to Iran, but 
said it would first discuss their return with Tehran. 

EU officials would probably offer proposals for the 
-jturn of ambassadors to the Iranian government on the 
fringes of the United Nations General Assembly meeting 
next week in New York, an EU diplomat said at a 
“atbering of EU foreign ministers in Brussels. 

Top diplomats from the 15 EU states were withdrawn 
from Tehran in April after a German court ruled that 
Iran’s' leadership ordered political assassinations in Ger- 
many, in 1992. ( Reuters ) 

France Delays Nazi Gold Plan 

PARIS — France will wait for a report on the fate of 
French Jewish property seized during World War H 
before deciding what to do with gold seized from the 
Nazis, the Foreign Ministry said Monday. 

_ Britain, France and the United States proposed at a 
meeting inBrussels last Friday to use 5.5 tons of Nazi gold 
they still hold to set up a fund to aid about 350,000 Jewish 
and Gypsy survivors of the Holocaust and the descen- 
dants qf Jews and Gypsies who had perished m it 
»,. Bui .the French Foreign Ministry said: “Prance will 
determine what to do with its share, 2.2 tons, in light of the 
work of the Matteoli commission studying the war time. 
Seizure of French Jews’ belongings." 

TbftgpXpramcnf pppointedjean Matteoli, a non-Jew- 
ish survivor of Nazi death carats, toirtaify the stanisoTan 

• -undetermined amount of property tfcqt was never returned 

• to its rightful owners after the war v The""Maneo’lilcdm- 

mission is to issue a preliminary report at the end of the 
month. ( Reuters ) 

Lawmaker Defects From Tories 

LONDON — A Conservative member of Parliament 
quit Britain’s main opposition party Monday, delivering a 
"new blow to colleagues still reeling from their crushing 
defeat in the general election May 1 . 

/.Hugh Dykes, a Conservative lawmaker for 27 years 
^until hekwas buried by the Labour Party’s landslide 
'victory,' said he would join the minority Liberal Demo- 
crats. . 

“I have come to the conclusion that the Conservative 
Party has really damagingly lost its way for years to 
_come," Mr. Dykes announced at his new party’s 
headquarters. 

Mr. Dykes’s strong pro- European views often put him 
at odds with the rightward drift of the Conservatives 
before the election. (Reuters) 

3 Kurds Killed on Greek Border 

ATHENS — Three Iraqi Kurds were killed and II 
were wounded Monday when they walked into a mine- 
field on the Greek-Turirish border. 

Greek officials said the Knuds were among a group of 
52 people who were attempting to enter Greece illegally, 
across -the Evros River on the country’s far northeast 
■border. 

A statement from the general army staff said two ant- 
ipersonnel mines exploded, killing the three instantly and 
'■“slightly" wounding the others. The remaining 48 were 
" in. the minefield until they were led to safety by 
iere. ; .^-wy— - (Reuters) 

Prodi Vfhrns Italian Separatists 

ROME — Prime Minister Romano Prodi on Monday 
‘warned the separatist leader Umberto Bossi and his 
"comrades not to break the law in their quest to set up an 
Lependent state in northern Italy. 

Mt. Piodi heaped scorn upon a weekend of rallies by 
Bossi ’s Northern League, at which be said his self- 
styled state was ready for action and the Italian flag 
belonged "in the toilet." , , 

' Mr. Prodi said Rome would not tolerate illegal be- 
;haviar. ?< The government reaffirms the absolute priority 
of law and democratic order in the country," he s^d- 
£ ‘Remember that those who have broken the law are s till 
^in jail, and the government has no intention of renouncing 
its duty to make sure the law is respected. ’ ’ He apparently 
was referring to a band of separatists who led a siege of 
-Venice’s bell tower in May. , . ’ - 

a Fewer than 1,000 people turned out along therms oi 
-Mr: Bossi’s march, and the police estimated mat the final 
^demonstration in Venice drew 13,000 people below 

Hie league's estimate of 60,000. (Reuters) 






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George Mitchell, former U.S. sen- 
ator, who leads the Ulster talks. 

He has promised to stay on until the 
end of this round of talks, expected to 
last until the spring. Mr. Trimble said he 
was encouraged by a statement issued, 
in an air of urgency, at 7 A.M. Monday 
by Prime Ministers Tony Blair of Bri- 
tain and Bertie Ahem of Ireland. 

The statement reassured Protestants 
that no decisions in the peace tati-g 
would be enforced without the consent 
of majority of the people in Northern 
Ireland, which is likely to remain Prot- 
estant well into the new century. 


Norway Seems Set 
To Oust Labor Party 
In General Election 

Reuters 

OSLO — Norwegians appeared to be 
ending the seven-year rule of the minor- 
ity Labor Party government Monday as 
surveys indicated that voters were giving 
Labor less than the minimum amount of 
support it had demanded to stay on. 

The two final polls of a campaign 
fought mainly over health and care for 
the elderly gave Labor 35.7 percent and 
34.3 percent of the vote. 

Prune Minister Thorbjoero Jagland 
had said that Labor must match its result 
in the 1 993 election — 36.9 percent — 
to stay on for the next four-year term. 

Opposition leaders were optimistic 
about the outcome. “I have a good feel- 
ing about this election," said Kjell 
Magne Bondevik, the prime minis terial 
candidate for the Christian People’s Party 
who would probably form a coalition 
government if Labor comes up short 

Meanwhile, CarrHagen, leader of the 
far-right Progress Party, was furious 
over an interview Sunday in which 
France’s extreme-rightist leader, Jean- 
Marie Le Pen, said he hoped the Pro- 
gress Party would win. 

"Le Pen is a loathsome, pure racist 
whom I want nothing to do with," Mr. 
Hagen said. 




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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 




-*L. ■.‘Ml 'O 



EUROPE 


Palace Strongly Denies 
Rift Over Diana’s Rites 


Rebuttal Seeks to Stem ‘ Speculation ’ 


By Youssef M. Ibrahim 

Ww forit Times Service 


LONDON — 

of insensitivity to the death of 
Princess of Wales, and allegations of 
mishan dling her funeral as well as a new 
drop in popularity for the royal family , a 
spokesman for Queen Elizabeth H is- 
sued a statement on Monday notable for 
its ferocious denial of “a wave of spec- 
ulation and inaccurate stories.” 


The highly detailed palace response 
multiple allegations widely 


zeroed in on muiu^iv ✓ 

reported by the British media- last week. 
Tnese included reports of rifts between 
the royal family and Diana’s brother, 
Earl Spencer, and assertions that the 
queen was at odds with her son Prince 
Charles over her insistence on a private 
funeral for the princess instead of a 
public funeral. 

The statement also said the queen had 
not opposed flying the princess’s body 
back home in a Royal Air Force plane, 
nor had she vetoed issuing a new set of 
stamps to commemorate the princess. 

“In the aftermath of the tragic death 
of the Princess of Wales there has been a 
wave of speculation and inaccurate sto- 
ries about the events leading up to, and 
subsequent to, the funeral,” the palace 
said. ‘These stories need to be cor- 
rected.” 


Among other things, Buckingham 
Palace said that “while there were some 


minor differences over points of detail 
of the funeral, which was witnessed by 
millions around the world and perhaps 
as many as 2 million people in London, 
they were ‘‘swiftly ana amicably re- 
solved.” 

Media reports, particularly on Chan- 


nel Four News by a highly respected 
* • " ' ' Charles 


anchorman. John Snow, said 


and the queen's private secretary^ Sir 


Robert Fellowes, exchanged sharp 
words, with Charles reportedly telling 
Sir Robert to “ impale himself on his 
own flagstaff.” 

Quoting what be described as 
“highly placed” sources in the palace, 
Mr. Snow asserted the two men had 
argued over the queen's desire to keep 
the funeral private and Charles's in- 
sistence on a public funeral for Diana. 


■ The reference to the flagstaff relates 
to the queen's initial resistance to hav- 
ing ha flag fly at half-staff over Buck- 
ingham Palace. Tradition dictates no 
flag flies over the palace when the queen 
is not there, and at tbe time of Diana’s 
death the queen was at her Scottish 
estate of Balmoral. Eventually, the 
palace yielded to public pressure and 
raised a flag to half -staff in mourning 
for Diana, even though tbe queen only, 
returned to London a day before the 
funeral, which took place Sept. 6. The 
f lag remained 'at half-staff for another 
half day after the queen returned to 
Scotland. 

Channel Four also reported that the 
two families had argued about who 
would walk behind the coffin until an 
hour before the funeral began and (hat 
the' queen had wanted the princess's 
body not to rest in a royal palace or a 
church. 

' “These stories,” a spokesman for the 
queen asserted, were “the direct op- 
posite of die truth.” The palace state- 
ment went on to add, “stories of dis- 
putes between the royal family and the 
Spencer family are false.’ ’ 

But Mr: Snow, the anchorman, as- 
serted again Monday that he stood by 
his account of rifts within the palace. 

“I am satisfied beyond any perad- 
venture that the story was accurate spe- 
cifically where it related to the clash 
between Charles’s staff and Sir Robert 
Fellowes,” Mr. Snow said. 

What is not in dispute is that the shock 
waves in the aftermath of the princess’s 
death are forcing a sea change in the way 
the royal family will be. dealing with 
future events. Most important is what 
appears to be an acute sensitivity in 
royal circles of the overwhelming pub- 
lic perception that the palace has be- 
come too remote, with the outpouring of 
sentiment over Diana coming as a stun- 
ning surprise to die palace. 

Virtually all Sunday newspapers re- 
ported new polls that showed a great 
majority of Britons in favor of tbe queen 
abdicating on her 75th birthday in ravor 
of Charles. A substantial' number of 
people also seemed to want 15-year-old 
Prince William to become king rather 
than Charles. 



Mir’s Creaky Computer Fixed Again 


GanyiM by Our Staff From Dupnbfar 

MOSCOW — The three-man crew 
aboard the Russian space station Mir 
managed to repair the main computer 
Monday after its failure once again 
caused the craft to lose its orientation 
on the sun and spin chaotically. 

“The work is completed; the com- 
puter is assembled," Viktor Blagov, 
deputy flight director at Mission Con- 
trol outside Moscow, said at a news 
conference. ‘ ‘The first checks gave a 
positive result.” 

But he added that further tests 
would be necessary before the crew — 
two Russians and an American — 
could be completely sure it was func- 
tioning properly. 

The latest snag marked the fourth 
time, that Mir’s computer has shut 
down since July. The crew members 
have not been in danger, but the re- 
curring problem adds to the larger 
concerns about Mir’s safety after 1 1 
years in space. 

Two of the three units on the Mir’s 


main computer began acting up Sun- 
day afternoon, and the crew turned off 
the entire computer, Mr. Blagov said. 
The team then had to turn off most 
operating systems, including the oxy- 
gen-generating unit. 

Mission Control officials said that 
the latest computer failure was similar 
to one last week. 

Then the cosmonauts — the com- 
mander, Anatoli Solovyov, a NASA 
physicist, Michael Foale, and the 
flight engineer, Pavel Vinogradov — 
fixed the computer in about 24 hours. 
But this time it has taken longer. 

Mission Control said a replacement 
computer and system parts were now 
aboard Mir. A completely new com- 
puter will be sent up with a Progress 
cargo ship that is to be launched in 
October. 

Earlier on Monday, Mr. Blagov said 
the gyrodines, switched off after the 
computer failed, would be fumed back 
on by Wednesday. The gyrodines 
provide stable alignment of the station 


with the sun, allowing it to soak up the 
ma ximum amount of solar rays to pro- 
duce electricity. 

After the malfun ction, the cosmo- 
nauts had to switch off or. reduce 
power to most of Mir’s systems. 

The power has been turned back, on 
in only two of the Mir’s modules as the 
crew sought to conserve energy in case 
the computer problem reappeared. 

The crew has a two-month supply of 
oxygen canisters, which are used when 
die oxygen-generating system goes 
down. 

The U.S. space shuttle Atlantis is set 
to blast, off Sept. 25 for a docking with 
the Mir! The space shuttle will ferry up 
crucial supplies and repair gear, in- 
cluding a sealant for holes in the frac- 
tured hull of the Spektr module. 

Mr. Blagov said cash problems of 
Russia's space industry could be be- 
hind the malfunctions. 

“The main computer was made up 
of two computers back, in 1995," he 
said. (AP. Reuters ) 


By Craig R. Whitney 

Nw York Tunes Service 


PARIS — Consider the legal position 
of Mohamed al Fayed. He is the owner of 
die Ritz Hotel; employer of Henri Paul, 
the driver in the crash that killed Diana, 
Princess of Wales, and father of Diana’s 
escort on the fatal ride. 

Under French law, his lawyers stand 
alongside the prosecutors, pressing die 
investigation of photographers who 
were chasing die princess’s car when it 
crashed two weeks ago. 

But now, after three separate blood 
tests, it seems beyond doubt that the 
driver, Mr. Paul, was drunk and under 
the influence of drugs used to counter 
depression and tbe effects of alcoholism. 
So, the focus of the investigation may 
quickly shift, and Mr. al Fayed’s 
strategy has shifted, too. 

Last week, Mr. al Fayed’s lawyer, 
Bernard DarteveUe, hinted at a new legal 


outcome of die case. As the father of 
Diana's escort, Dodi, Mr. al Fayed was 
entitled to become a civil party to tbe 
criminal investigation of two French in- 
vestigating pidges into the actions of 
nine photographers and a motorcycle 
driver. 

French law gives investigating judges 
almost unlimited scope within the coo- 
text of an investigation to follow the 
facts wherever the fault seems to lie. 
And the law gives otherpeople who have 
suffered from the accident — the family 
of the injured Brit- 


“The driver is dead, and so under 
French law he can’t be charged with 
being criminally responsible for their 
deaths,” said Aram • Kevorkian, an 
American lawyer with /a long-standing 
practice in France. “But the investi- 
gating judges are free to interrogate 
people at the Ritz about why they al- 
lowed him to drive a car the hotel had 
hired from a rental agency that night, and 
name them as suspects in an investi- 
gation if they see fit." 

In theory. Diana’s two sons. Prince 


ish bodyguard, for 
instance — the 
same ability to 
push for criminal 
prosecution that 
Mr. al Fayed had. 
Only by becom- 


Investigatmg judges can interrogate people at the Ritz 
about why they allowed Henri Paul to drive a car the 
hotel had rented that night, and name them as suspects. 



perhaps there was also ‘ ‘secondary 
responsibility” on Mr. Paul’s part. But 
even if that were so, no fault lies with the 
hotel. 

"Mr. Paul should never have got be- 
hind the wheel," Mr. Darrevelle said. 
"But at the end of the day, he was the 
only one who knew whai condition he 
was actually in.” 

The quick shift of strategies illustrates 


: quick shift of strategies illustrate 
the subtlety of French law, which is still 


based on the Napoleonic Code, and how 
it is likely to influence the progress of the 
case. Victims and their representatives 
can become parties to an investigation, 
but the prosecuting authorities are es- 
pecially powerful in determining the 


ing civil parties to the proceedings can 
any injured parties eventually hope to 
collect damages from those responsible; 
thus, Diana’s sisters and the body- 
guard’s family are civil parties, just like 
Mr. al Fayed. 

This complicated system could even- 
tually pit the civil parties against one 
another. Last week, lawyers for Mr. al 
Fayed and for the photographers said 
investigators were swarming over a pos- 
sible new target: the management and 
staff of Mr. al Fayed’s Ritz Hotel. 

French law, lawyers say, exposes the 
Rite to the risk of criminal prosecution for 
negligence if it knowingly allowed Mr. 
Paul, the hotel’s assistant security direc- 
tor, to take the wheel not only drunk but 
also unqualified to drive the rented Mer- 
cedes S-280 limousine that night Ac- 
cording to the Paris police, Mr. Paul did 
not have a limousine chauffeur's license. 


Harry and Prince William, and the body- 
guard working for the al Fayeds who was 
badly injured in the crash. Trevor Ree*- 
Jones, could also sue the Ritz and iis 
officers. 

Whether Mr. al Fayed, an Egyptian 
citizen who lives in London, could risk 
prosecution or an expensive lawsuit 
seems doubtful, legal experts say. The 
Ritz is owned by a London corporation. 
Mr. al Fayed is listed as a director but not 
an officer, and lawyers say that only the 
corporation and its officers can be crim- 
inally charged or sued under Freiu.ii 
law. 

The lawyer. Mr. Dartevelfe. said the 
Ritz and Mr. al Fayed were fully covered 
by liability insurance, and all liability 
policies in France, by law. have un- 
limited coverage. 

The investigating judges in the case. 
Herve Stephan and Marie-Christinc 


DevidaL can place suspects under in- 
vestigation and charge them with spe- 
cific crimes or free them of suspicion. 

They ltavo placed nine photographers 
and a motorcycle driver who was work- 
ing with one of them under investi- 
gation, all on suspicion of the crimes of 
contributing to the causes of the crash by 
recklessly pursuing the Mercedes and of 
failing to summon aid or impeding tbe 
anions of emergency crews. 

If the judges decide to prosecute, they 
will define the charges at the end of their 
investigation, which 
is expected to take 
months. 

“The whole sys- 
tem is biased toward 
rhe authorities who 
accuse suspects, not 
to the presumption 
of innocence,” Mr. Kevorkian said. 

Mr. Stephan, who initially was 
working alone, was given the police 
reports after the initial police inter- 
views and began interviewing the sus- 
pects. By the evening of Sept. 2, Mr. 
Stephan had opened a formal criminal 
investigation against six photographers 
and the motorcycle driver. By Sept. 5, 
Madame Devidal had joined him in the 
case. 

One charge in the investigation 


in me investigation is 
involuntary homicide, defined as * ’caus- 
ing by clumsiness, imprudence, lack of 
.ui-.mion. negligence or by failure to 
i it. legal >afcly requirements ihe 
death vi .mother” and punishable by up 
to three years in prison and a $50,000 
fine. 

The other is deliberate failure to come 
to the aid of a person in peril or de- 
liberate failure to call for help, pun- 



Monitors Hail 
Bosnian Vote 
As Milestone 
On Peace Path 


By Lee Hockstader 

Washington Post Scn ice 


The Croatian and Yugoslav foreign ministers. Mate Granic, left and Milan Mihitiiiovic, signing pacts Monday 
in Belgrade to improve ties. They covered border crossings, road and rail traffic, social security and legal aid. 


Under French Law , al Fayed Straddles Difficult Legal Position 


ishable by up to five years in prison and 
an 583,000 fine. 

All of Ihe photographers at the scene 
said they had not impeded doctors or 
rescue workers at the scene. Initial po- 
lice reports told a different story,' 
however. The French code leaves it up to 
the investigating judges, initially, to 
determine whom to believe. 

French law allows companies and 
their officers to be charged with crimes 
and sued, but Mr. Kevorkian and other 
lawyers here say officers are more often 
charged than corporations are. 

Lawyers say they believed that the 
Ritz Hotel might have more to worry 
about from a civil suit for damages than 
from criminal prosecution. 

Id practical terms, that probably 
would mean pursuing an insurance set- 
tlement. But, according to Mr. Kevorki- 
an, ’ ’damage awards are not very high in 
France, almost always less than a million 
dollars.” 

In any case, nobody would be in a 
position to sue for damages under 
French law without bringing a complaint 
and becoming a civil party to the crira- 
inaiprocee dings. 

The lawyers for those who have be- 
come civil parties to the proceedings are 
entitled to see investigation files as the 
case develops. Attorneys for the defen- 
dants have the same right. 

If any of the criminal charges men- " 
tioned are brought against any 'defen- 
dants, they would be misdemeanors, not 
felonies, under French law. 

The trial would take place in the Cor- 
rectional Court, without a jury, before a 
panel of three judges, all of them ready to 
give the benefit of ihe doubt to the case 
made by the investigating judge. 


SARAJEVO. . Bosnia-Herzegovina 
—'Western officials are proclaiming the 
weekend municipal elections in Bosnia 
a success and a major milestone in the 
country ’s tortuous peace process, which 
many voters hope will help reverse the 
effects of the "ethnic cleansing 'during 
the 3'A-year Bosnian war. 

■ “The nationalists, the undemocratic . 
forces, the war criminals — they have 
all resisted this process," said David 
Foley, spokesman for the Organization 
for Security and Cooperation in Europe, 
which organized the vote and is paying 

itsS50 tmllion price tag. 

“To those who say there is no pro- 
gress in Bosnia and Herzegovina, to 
those who say ethnic divisions are as 
deep as ever, today the people of Bosnia 
have given their answer, and they say: 
‘Think again.’ ” 

But the officials acknowledged dial 
putting into effect the results of the elec- 
tions, which could shift control of a dozen 
of more town councils from one ethnic 
group to another, would be difficutt.- 

And the ultimate goal of many Bos- 
nian voters — returning lo homes from 
which they were driven by rival na- 
tionalist forces and which are now oc- 
cupied by refugees of another group — 
could take months or years, if it happens 
at all. 

“You cannot expect to completely 
take this country back to where it was 
before the war; that’s an illusion," said 
Robert Frowick, the retired U.S. dip- 
lomat who is head of the security or- 
ganization’s mission here. “We have to 
have a rule of reason as to what we can 
do with just diplomatic instruments.” 

Officials said more than 70 percent of 
Bosnia’s 25 milli on registered voters 
went to the polls Saturday and Sunday 
to choose municipal councils. 

/ - Counting and transporting the ballots 
from 336 municipalities and 6 precincts 
in the- divided southern city of Mostar 
will take place under extraordinarily 
tight supervision by European monitors. 
The results of the vote, the first local 
elections in Bosnia since 1990, will not 
be known for at least a week. 

But preliminaiy results trickled in 
Monday. They indicated that an oppo- 
sition coalition was headed fora decisive 
victory in the northeast town of Tuzla, in 
the MusIim^Croat federation , officials of 
the security organization said. 

Thousands of people returned to vote 

A ■ 1*1 I J I _ _ _ Al 


in the towns they fled during the three- 
way ^ factional conflict, and additional 


fecis of thousands of refugees cast ab- 
sentee ballots, for town councils in their 
former home areas. 

Croats are expected to lose control of 
councils in several towns in western 
Bosnia that they seized from Serbs in 
1995 during the closing stages of the 
war. Serbs fear losing council majorities 
in eastern Bosnian towns that had large 
prewar populations of Muslims. 

■ International Pressure on U.S. 


The United States came under re- 
newed pressure Monday to agree iu 
extend its military presence in Bosnia- 
Herzegovina beyond mid- 1998. Reuters 
reported from Brussels. 

President Bill Clinton has promised 
the U.S. Congress that the NATO-led 
Stabilization Force will be withdrawn 
next summer. But both Britain and Den- 
mark signaled Monday rhar they were in 
favor of keeping troops in Bosnia be- 
yond July to help guarantee the fragile 
peace process. 

The British foreign secretary, Robin 
Cook, made it clear, however, that Bri- 
tain would stay only if the United States 
remained, too. 

In Sarajevo on Sunday, Robert 
Frowick, head of the Bosnia mission of 
the Organization for Security and Co- 
operation' in Europe said that it was 
essential for tlie international commu- 
nity to maintain a presence indefinitely. 

“And I would say that includes a 
significantaruiejedible commitment by 
the LkS. especially,” he said. 


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^ \^Xwfi> IE, WEDNESDAY, SEPTEMBER 24, 1997 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 


PAGE 7 


P&ouRmii box potrrtritiJ u selectively taijti j range of 
abnormal tis sues in tie body, tudi as diseases like cancer 
or reiinoi abnormalities. 


Light u directed at t« target area. A small diode- based 
system generous the light, and special devices deliver 11 
u>i(£tn ibt body or on us surface. 


In clinical studies, the PbowPwm drug is injected and is 
subsapKMb retained by taiga ctlii. h ranains inactive untJ 
exposed eo a specific luai'dengib of non -thermal red light. 


urgeud cells are doomed ty an interaction henveen the drug 
and die bgfrt. viab minimal trwwn side effects. PhouRna. noiv 
tnclmicjl mils, u bang ifotloped as an ouipjaent procedure. 


- 1 




WE DON’T EXPECT A CORPORATE NAME CHANGE TO 


For the record, PDT Inc. will 
henceforth be known as Miravant. 
But since you never heard of us to 
begin with, that’s no big news. 

But here’s why you just might be 
hearing a lot about us from now on. 

Were developing a medical pro- 
cedure that uses light- activated 
drugs to destroy targeted cells with 
minimal damag e to surrounding nor- 
mal tissues. 

This has potential application for 
a wide range of medical conditions, 
from cancers to eye diseases, and is 
currently being tested in predimcal 
and clinical studies in the US and 
internationally 

Its a more highly-evolved version 
of a discipline known in medical cir- 


cles as photodynamic therapy. But our 
approach is so advanced were brand- 
ing it under a different name. (More 
about that later.) 

To begin with, our procedure uses 
proprietary synthetic drugs because 
they have the potential to be precise 
and controllable. Our patents cover 
broad classes of compounds. 

We are synthesizing these drugs 
to react to a low-power red light 
that is ideally suited for penetrating 
body tissue. Wz are also developing 
light-producing devices designed to 
be compact and affordable, yet allow 
for precise control through sophisti- 
cated software. 

Next, through years of research 
■ we’ve gained a unique expertise in 


dosimetry, determining the amount 
of drug to administer, the time 
needed for the drug to achieve 
optimal concentration in diseased 
or target cells, and how to control 
the intensity and duration of light. 

This in turn may offer the physi- 
cian considerable selectivity in the 
application of the treatment. 

Finally, we have forged strategic 
alliances with some of the most 
respected names in the medical 
industry 

We plan to market this procedure 
under the brand name Photo Point? 1 
We will work aggressively with 
our corporate partners to create a 
sharply- focused brand identity for 
PhotoPoint among the medical and 


patient community Through these 
efforts, we look for PhotoPoint to 
become synonymous with the high- 
est standard of control in photo- 
selective procedures. 

No business plan can guarantee 
success, of course, and drug approval is 
a challenging process. But we think 
our strategy of pursuing multiple rev- 
enue streams and strategic alliances 
that provide a path to market will 
position us to become a leader in a 
whole new field of medicine. 

\bull be reading a lot more about 
Miravant in the months to come. 
But if you don’t want to wait, visit 
our website at www.miravant.com, 
or call toll-free our investor relations 
department at 888-685-6788. 


Uam more about PbotoFbint^and Miravam or vmnu.mrauane.com. or all roll-fee at 88S-6S 5 -6 tS 8. Tic compel products require regulatory approval before marketing. 


Miravant 

MEDICAL TECHNOLOGIES 


GET THE ATTENTION OF INVESTORS. WOULD A 
BREAKTHROUGH IN MEDICAL TECHNOLOGY SUFFICE? 










L 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 


* 


INTERNATIONAL 


No Sign of Any Survivors 
Off Namibia After Loss of 
German and U.S. Planes 


CcevBedbjQvSugFretn Dtpaifta 

WINDHOEK, Namibia — A German 
and a U.S. mili tary plane probably col- 
lided over die South Atlantic off Nam- 
ibia, and there were no signs that any of 
fee 33 persons aboard survived, officials 

said Monday. . 

“There's a great probability there 
might have been a midair collision, 
Germany's air force transport chief. 
General Gerhard Back, said at a news 
conference in Windhoek, Namibia s 


capital. 

A German Tupolev-154 with 24 per- 
sons aboard was on ics way from Boon to 
South Africa for a naval ceremony when 
t. U.S, Air Forte 


land the Ger- 
man craft "had probably collided. 

In Bonn, a Defense Ministry spokes- 
man Raid that a Namibian ship app eared 
ro have discovered the sire where aircraft 


plunged into the ocean. 

' n -- had discovered 


The ship’s crew 
large pool of oil off the west African 

coast, and a strong smell of kerosene was 
present in the air, the ministry said. 

A spokesman said that a Namibian 
fisheries protection vessel had made the 
discovery close to an area where res- 
cuers searching for the TU-254 had 
earlier recovered part of an aircraft seat 
and some German papers, 

“There is a strong presumption that 
this is the spot where the TU-154 
crashed,” the spokesman said. 

George Nielsen, captain of the fish- 
eries research vessel Tobias Hainyeko, 
said that no survivors had been sighted. 


Mr. Nielsen said his crew had re- 
covered debris, including “one piece 
like a door, and one flap or a part of a 

W1 ^nnbejs and lettering on the wreck- 
age and on papers found indicated that it 
was a Goman plane, he said. 

Hie Soviet-built Tupolev was de- 
signed to fly Erich Honecker, the former 
cw German leader, around the globe. 

It was taking 12 marines to Cape 
Town for a naval regatta. Ten crew 
members and the wives of two of them 
were also aboard. 

U.S. officials said that a collision 
seemed the most likely explanation for 
the disappearance of the two planes, one 
traveling sooth and the other west. 

‘ * We were able to put together the two 
aircrafts’ flight plans and in fact start 
searching in the vicinity of where those 
fli gh t" plans intersected,” said Major 
General Greg Gile, director of oper- 
ations at the U.S. Atlantic Command. 

The South African Air Force said that 
a satellite had registered a flash on Sat- 
urday that might have been a collision in 
a remote area with little traffic, in ap- 
parently middling weather. 

Namibian air traffic control said it had 
not been informed that the German air- 
craft was about to enter its airspace, 
because no departure signal was re- 
ceived and no flight plan communicated 
from ics last fuel stop in Niamey, Niger. 

It was believed to be the second worst 
air disaster for German military forces 
since World War EL Forty-two were 
killed when a transport plane crashed in 
Crete in 1975. ( Reuters , AFP) 



Ball]' Khnmm/Tbc Amxuacd ften 

EYES WHERE? — A Philippine sailor wincing in the rain Monday 
during a parade for the departing defense minister, Renato de Villa, 
who has resigned to run for president in next year's general elections. 


GERMANY: Election Stokes Euro Debate 


Continued from Page 1 


Like Mr. Voscherau, two of the lead- 
ing politicians who have taken then rns- 


witfa his election posters around the 
that show him in shirtsleeves, aims 
ded, seemingly signaling more steadfa*- 


F” — r~ — z — Htllnts in an interview wuu 
lance from the euro face regional Alleemeine Zeitung over the weekend, 

before the national elections. M> Voscherau — who besides his may- 

GeifaariSchro^.whoisr^ai^das ^ post here and his seat in the Buades- 
the possible Social mjper house of Parliament in 

date for chancellor with tiie best chanas rat, tn upp«^ national finin g 

ofbeatiBgMTKohl.mus'to^wto S ^Social Dc4 
unt..ar_itin. skills as the incumbent nun F^|^lh= patty’s negotiator cm adx 


vote-getting skills as the incumbent min 
ister-president of the state of Lower Sax- 
ony. He appeare to believe that resistance 
to the earn will help. As does Edmund 
Stoibcr, who is seeking to return to 
power in Bavaria with the Christian So- 
cial Union, the sister party of Mr. Kohl s 
Christian Democratic Union. 

Within the chancellor’s party, Kurt 
Biedenkopf, who seems to take partre- 
nlar pleasure in needling Mr. Kohl from 
his post at the head of the state of Sax- 


SaSStsSiss fefJsaS-Sjsj 


MINES: U.S. Version of Treaty Banning Devices Fails to Find Support at Oslo Conference 


Continued from Page 1 


involved in an act of aggression as 
defined by the United Nations Charter. 

But die UN has never defined an act of 
aggression, diplomats here said, and Mr. 
Lysyshyn asserted that tile effect of the 


limited its ability to use anti-personnel 
mines to defend f 


U.S. proposal would be that land mines 
would be bam 


banned except in war. which 
would be the only time they are used. 

The United States is also seeking to 
amend the definition of anti-personnel 
land mines in such a manner tint it 
would be allowed to use them with anti- 
tank mines. While the treaty would not 
ban anti-tank mines, it would ban using 
anti-personnel mines with them. 

■ The Prince* Diana Factor 


David E. Sanger of The New York 
Times reported earlier from Washington: 


Until Sunday, the United States had 
said it could not sign any treaty that 


South Korea from an 
attack from the North. 

But Washington has been under 
strong political pressure from many al- 
lies to change that stance so that the first 
international treaty requiring signing na- 
tions to stop deploying mines — and to 
clean up those in the ground within 10 
years — would also include the world’s 
largest military power. 

The political pressure grew. U.S. of- 
ficials acknowledged, after the death two 
weeks ago of Diana, Princess of Wales, 
drew broader attention to the land-mine 
treaty, whose cause she had taken up. 
Photos of Diana with land-mine victims 
in Bosnia were regularly shown during 
the days of mourning for her. 

But U.S. officials warned that before 
they could initial the treaty this week in 
Oslo, the United States would insist on 
two significant modifications. 

The first, which a senior administra- 


tion official conceded was encountering 
strong resistance, would permit the 
United States to deploy, in times of con- 
flict, anti-tank mines that are ringed by 
anti-personnel mines to keep enemy sol- 
diers from removing or destroying the 
anti-tank mines. Because those mines 
blow themselves up several days after 
they are deployed, the United States ar- 
gues that they would not pose the kind of 
continuing danger to children and farm- 
ers thatareaconstantsourceofinjuryand 
death in such countries as Cambodia. 

The arsenals of European countries 
include similar combination mines, but 
in their version, the anti-personnel ex- 
plosives to defend the anti-tank mine are 
integrated into the rest of the weapon. 

The administration is also insisting, 
officials said, that the treaty include a 
clause that would allow countries to 
withdraw from the accord if they are 
victims of aggression, after a six-month 
waiting period. The current wording of 


the treaty does not allow signers to with- 
draw during a conflict. 

Other treaties — including the 
START nuclear weapons accords, the 
Chemical Weapons Treaty approved by 
the U.S. Senate this year and the treaty to 
prevent the spread of nuclear weapons 
— do not restrict the right to withdraw. 

“We think that we have made a very 
major change in our position in order to 
smooth the way for an anti-land-mine 
treaty that the United Slates can sign.” a 
senior White House official said Sunday 
after two days of intensive talks that 
involved the Joint Chiefs of Staff; Sec- 
retary of State Madeleine Albright, who 
has been traveling in the Middle East, 
and President Bill Clinton’s national se- 
curity adviser, Samuel Berger. 

The Pentagon initially opposed even 
joining the talks in Oslo, chiefly because 
it views the land-mine defense along the 
Demilitarized Zone in Korea as the main 
deterrent to another Korean war. 


many, bag offered a plan 
allow a kind of test nrn for the euro. 

Mr. Voscherau and his counterparts 
have been legitimized to a large extent 

by the obvious lack of enthusiasm for the 
new currency of Hans Tietmeyer, the 
theoretically apolitical president of the 
Bundesbank, who has consistently suc- 
ceeded in indicating his reluctance with- 
out making it explicit 

The authority and respectability of 
this group, at its most effective, con- 
tinues to encourage debate on a sig- 
nificant and sensitive subject while Mr. 
Kohl and other European leaders, in- 
cluding Jacques Santer, president of the 
European Commission, insist tire debate 
is over, or somehow irresponsible and 
anti-European. 

But at its worst, the partly completed 
debate, die nudges and references to Ger- 
man burdens, have fed a sense of German 
victimization That is easily sustained in 
combination with the country's high un- 
employment figures and the widely ac- 
knowledged political standstill in Bonn. 

One of Mr. Voscherau ’s opponents, 
Frank Micheai Wiegand of the Free 
Democratic Party, has picked up on this 
connection, accusing Mr. Voscherau of 
fishing for votes in extreme rightist wa- 
ters with his position on the euro. Cam- 
paigning on Mr. WiegancTs behalf in 
Hamburg, Foreign Minister Klaus Kinkel 
of the Free Democrats said he thought Mr. 
Voscherau was a “reasonable man” — 
probably meaning his party could serve in 
a stale coalition with the Social Demo- 
crats — but added, “I just don’t un- 
derstand why he’s leading tins destabil- 
ization campaign against the euro.” 

In fact, Mr. Voscherau’s platform has 
a strong law-and-order element that ap- 
pears to reflea the populist aura asso- 
ciated with Mr. Sc breeder, who has been 
criticized angrily by the Social Demo- 
crats ’ left wing for remarks it regarded as 
being insensitive to immigrants. 

Mr. Voscherau has criticized the courts 
for turning certain violent criminals back 
into society and for giving lighter sen- 
tences for violent- crime than for white 
collar misdemeanors. He has also talked 
about better unified and controlled im- 
migration policies, a line that seems to go 


be 


CHINA: ; 

Plea on Crackdown ?; 


Continued from Page 1 




fore serving as national party general 
liberal i 


secretary, was relatively liberal in polit- 
ical and economic matters. He was tire 
second of three people tapped to succe^l 
Deng Xiaoping. . a 

Mr. Zhao, now 71. was last seen jb 
public on May 19, 1989, when he visited 
student demonstrators in Tiananmen 
uare and tearfully pleaded with chop 


tc?l leave tbe square 


Air Force Grounds 
‘Stealth’ Fighters 
Following Crash 


iporarily 

F-117A 


Reuters 

WASHINGTON — The U.S. Air 
Force on Monday term 
grounded its fleet of 
“stealth” fighters following the 
crash of one of the planes in sub- 
urban Baltimore on Sunday. 

4 ‘There's a stand down of routine 
flying operations at least through 
today,” said Captain Keri 
Humphrey, an air force spokes- 
woman. 

The action came after an F- 1 17A 
stealth fighter broke up and crashed 
into three buildings during an air 
show. 

Major Bryan Knight, an instruct- 
or pilot based at Holloman Air 
Force Base, New Mexico, para- 
chuted safely from the $45 milli on 
plane and was taken to Andrews Air 
Force Base near Washington for 
observation. 

Four people on the ground — one 
man and three women — suffered 
minor injuries after pieces of the 
aircraft plunged onto houses, said 
Steve GisrieL, a captain with Bal- 
timore County’s fire department. 

An air force statement said there 
was no indication that whatever 
caused the crash of Major Knight's 
plane would affect any other any 
other F-117s, which are flown by 
the Holloman-based 49th Fighter 
Wing, 

“However, to confirm this, the 
49th Fighter Wing has b 
a precautionary stand 
routine flying operations at least 
through Monday,” the statement 
said. 

It said the grounding “will allow 
air force and manufacturer main- 
tenance specialists to assess 
presently available information and 
validate that routine flying oper- 
ations can resume.” 

Military officials located the 
flight data recorder from the de- 
stroyed aircraft after closing off tbe 
area around the crash sire and comb- 
ing the area for debris. 

Amateur video showed parts of 
the plane breaking off as it started to 
climb after flying level over the 
airfield. It was en route to Langley 
Air Force Base in Virginia from 
Syracuse, New York, where it ap- 
peared in an air show on Saturday. 

The plane then tumbled and 
rolled, trailing smoke and other ma- 
terial, the video showed. A sharp 
explosion marked tbe pilot’s ejec- 
tion and the plane tumbled straight 
to the ground. Witnesses said part of 
the aircraft’s tail fell off in flight 


JOBS: Will Thai Collapse Spark Reaction Across Southeast Asia? 


Continued from Page I 


now unemployed. Thailand has a pop- 
ulation of about 60 million people. 

But economists said that official un- 
employment figures for Thailand, In- 
donesia (2 2 percent) and even the Phil- 
ippines (8.4 percent) underestimate the 
extent of the problem and do not take 
account of a much huger pool of people 
who work part-time because they cannot 
find full-time jobs. 

In an assessment of the potential so- 
cial and political impact of economic 
dislocation in Southeast Asia, die In- 
ternational Institute for Strategic Studies 
in London said this month that rapid 
grow* had both created and masked 
social tensions. 

“Despite enormous achievements in 
alleviating poverty. Southeast Asia is 
widely considered by its residents to be a 
deeply unequal place,” the institute said 
in a report “There is widespread re- 
sentment of a perceived 'wealth gap' 
between the plutocratic few who nave 
made fortunes and the disadvantaged 
many who have not. To some extent, the 
fact that everybody was gening richer 
eased these tensions.” 

For more than a year, Indonesia — the 


world’s fourth most populous nation 
with 190 million people — has been 
troubled by periodic riots that appeared 
to be triggered by religious or ethnic 
conflicts. But many analysts there said 
the roots of the unrest were buried in the 
wide gap between rich and poor. 


Similar glaring inequities exist in the 
Philippines and Thai! 


lailand, which the in- 
stitute" said is “by most measures the 
region’s most unequal country.” 

It said that the risk of political in- 
stability was greatest in Thailand, where 
financial collapse has coincided with 
bitter controversy over moves to reform 
the constitution to eradicate corruption 
and money politics. 

Social and political risks are rising in 
Southeast Asia, said David Roche, man- 
aging director of Independent Strategy, a 
global investment consultancy in Lon- 
don. “The problem is that reductions in 
living standards of between 10 percent 
and 25 percent are not something that 
politicians can easily sell to their rel- 
atively poor populations,'* he said. 

Singapore’s Business Times newspa- 
per said in a recent editorial that even 
optimists about Southeast Asia “ac- 
knowledge that Thailand has to go 
through a major financial and real estate 


shakeout," which could involve thou- 
sands of bankruptcies and layoffs run- 
ning into the hundreds of thousands. 

As investors in Thailand became in- 
creasingly worried in the past year about 
economic mismanagement that led to 
excessive property investment and 
build-up of loans by banks and finance 
firms that could not be repaid, they sold 
Thai stocks and its currency, the bahL 

When the country's reserves dwin- 
dled to dangerously low levels, the gov- 
ernment had to devalue the currency, on 
July 2, which caused turmoil in other 
Southeast Asian foreign exchange mar- 
kets, forcing the Philippines and Indone- 
sia to devalue as well. 

Thailand negotiated a $17.2 billion 
international rescue package, fn return, 
the government agreed to a series of 
austerity measures. The IMF required 
the Thais to further tighten fiscal and 
monetaty policy and balance the budget 
by cutting spending, raising revenues 
and increasing the value-added tax. 

The workers, mostly from factories 
and state enterprises, who protested in 
Bangkok on Saturday threatened to 
bring “hundreds of thousands of 
laborers to the streets” if the govern- 
ment did not heed their demands. 


Booker Prize Odds 
Favor Irish Writer 


Reuters 

LONDON — The Northern Irish 
writer Bernard MacLaverty was 
made the favorite Monday to win 
the Booker Prize, Britain's leading 
literary award. 

But bookmakers said after the 
nominations were announced that 
the race was wide open. The judges 
caused a major surprise by omitting 
“Enduring Loves,” tbe latest best- 
seller by Ian McEwan. 

The judges, who are to announce 
the winner of the £20,000 ($32,000) 
award on Oct 14, picked six from 
106 entries from Britain, Ireland 
and Commonwealth countries. 

Mr. MacLaverty was favorite for 
’ ‘Grace Notes,’ * the tale of an up and 
coming composer. Second favorite 
was Jim Grace for “Quarantine," 
the lale of Jesus' 40 days and nights 
in the wilderness. Third favorite was 
an Indian writer, Arundhari Roy, for 
* 'The God of Small Things. ' ’ . 

The others selected were a fust- 
time novelist. Mick Jackson; the 
Italy-based Tim Parks, and an Aus- 
tralian, Madelaine St. John. 


PRIVACY: Detectives Turn to Cyberspace 


Continued from Page 1 


and present neighbors, even the number 
of bedrooms in a house she had in- 
herited, her welfare history, and the 
work histories of her children’s fathers. 

And his investigation unearthed two 
delinquent traffic tickets, which the in- 
vestigator then used to threaten her with 
arrest if she did not provide — or fab- 
ricate — damaging information about 
lawyers in the case, according to sworn 
statements she gave last year. 

At a time of growing public alarm 
over the erosion of privacy by tech- 
nology and data commerce, electronic 
dossiers have become the common cur- 
rency of computer-age sleuths, and a 
semiunderground' information market 
offers them much more; private tele- 
phone records, credit-card bills, airline 
travel records, even medical histories. 

Cash-strapped governments are selling 
digitized public records to a new gen- 
eration of commercial database compa- 
nies. Illinois, for example, now makes £ 10 
million a year from the sale of public 
records. Other records that are for sale 
range from real-estate filings that list the 
number of bedrooms in a house and its last 
sakprice, to divorces and bankruptcies. 

Tnus, personal details that used to lie 
is musty courthouse files can now be 
uncovered from almost any place in the 
country by means of a computer. 

Web sites with names tike Dig Dirt 
and SpyForU sell unlisted telephone 
numbers for $69 and bank-account num- 


bers for $55, and they offer to trace a 
beeper number to the owner’s address 
for S59. though these searches do not 
always work. Finding out a person’s 
salary costs S75, and a list of someone’s 
stocks, bonds and mutual fends is $200 
from one New Jersey information broker 
who offers volume discounts. 

The Web page of Advanced Research 
Inc. advertises long-distance toll records, 
cellular-caJJ records, bank-account bal- 
ances. credit-card activity, and up to 10 
years of medical-treatment history. 

Where does such information come 
from? 

“I’m not at liberty to sav,” said Mike 
Martin, the private investigator who op- 
erates Advanced Research in Parsip- 
panv. New Jersey, 

But Allen Schweitzer says he has little 
doubt about its origins. 

.Armed with little more than a 
stranger's Social Security number, an 
unscrupulous information broker can as- 
sume that stranger's identity in a call to 
one of the clerks who sit at computers all 
over the United States. Fed a plausible 
story and the key information to verity 
identity. Mr. Schweitzer said, helpful 
clerks will read information aloud. 

In the trade, this is known as “pre- 
texting,” and it is a major source of 
illicitly gained information bought and 
resold by private eyes, some far removed 
from the source. 

“I can get anything 1 want to know 
about you by being you.” said Mr. 
Schweitzer, who served six months in 



The topic of reassessing the crack; 
i Tiananmen Square protes 


down on 

has been one of the most sensitive 
Chinese politics because China’s long; 
time reform era leader, Mr. Deng, is 
believed to have ordered army troops to 
oast students and their supporters froni 
the square. Since Mr. Deng is now deadj 
it might be easier to open the issue. ’ 
“Everyone knows that the majority of 
the students’ demands at that time were 

lift-’ 
.om-i 

munist Party or subvert the republic,” 
Mr. Zhao wrote. | 

He said he still believes that tbe Comi 
munist Party should have negotiate^ 
with the students and accepted their rea- 
sonable demands. “Not only would the 
effects, of bloodshed have been avoided; 
but a new form of dialogue would have 
been established between the govern -i 


MM* « W|IIMI »WU Ul UMH UUIV 

to punish corruption and promote pol 
icaj reform and not overthrow the Cot 


meat and the people, thus 
political reform," the letter ; 


Jed. 


YELTSIN: 

Kremlin Showdown 


Continued from Page 1 


the recent onslaught 


n « n . . , Edwsnl CWon/Thr Nr* Yurt tima 

Duffy Buchanan, a lawyer who represented the plaintiffs against Texaco 
charges that a detective used pressure to force him to abandon the case! 


prison and says he now has a legitimate 
job as a telecommunications salesman. 

“The amount of information available 
at the push of a button has just revo- 
lutionized the whole private-investiga- 
tion industry,” said Jason Rowe, an in- 
vestigator who frequently works on 
behalf of plaintiffs against large corpo- 
rations. Even to the sleuths who benefit, 
he added, "it's a little bit frightening." 

In the Texaco case, one of the 
claimants’ lawyers, Duffy Buchanan, 
and residents of Wilmington have filed 
separate lawsuits accusing the private 
investigator, Christopher Coombs, and 
his corporate backers of violating their 
privacy and other civil right}, as part of a 
strategy to sabotage the explosion 
claims. 


Mr. Buchanan’s complaint charges 
dial Mr. Coombs, who reported directly 
to Texaco's law firm, Dewey BaUantine, 
illegally bugged his law office, enlisted or 
extorted false accusations against him, 
stole a computer list of claimants and 
maliciously engineered his indictment for 
an obscure insurance-code violation, for- 
cing him out of the explosion litigation. 

By the time Mr. Buchanan was ac- 
quitted in March, his career and the 
remaining class-action lawsuits were in 
shambles. Some claims have been 
dropped or settled; about 9.000 are still 
outstanding, including cases as diverse 
as a woman who needed a lung trans- 
plant and blamed die explosion, and chil- 
dren who complained of burst eardrums, 
worsened asthma or emotional distress. 


worried about 
against them. 

The campaign against Mr. Chubais 
was vitriolic. Interfax reported Sunday 
that Mr. Chubais had received an as*i 
sassination threat. ■ 

Mr. Berezovsky was the only one of 
the seven who was not in attendance 
Monday. The others were VladirairGus-j 
msky of Media-Most; Alexander 
Smolensky of SBS-Agro; Mikhail 
Khodorkovsky of Rosprom, a holding 
Bunk Mentep; Mr. Potanin; 
M'khatl Fndman of Alpha Bank, and 
Vladimir Vinogradov of Inkombank. 


Assassination Plot 


Michael R. Cordon of The New York 
limes reported 'earlier from Moscow: 
Russian officials said they had learned 
J pl ot to assassinate Mr. Chubais. — 
-Andrei Trapeznikov. an aide to Mr. 
Chubais, confirmed in a telephone in- 
terview that the Federal Security Service 

re< S Ve i? lipofa P tot - 

Mr- Chubais was informed on Sat- 
urday and security precautions were 
strengthened. Mr. Trapeznikov said. 

He declined to sav who was organ- 
izing the repotted plot or why. The In- 
S™*"* agency said that a threat may 
ranS a Russian oil com- 

SSp “ ri1 10 ™ iB ““ “4 



ness than compassion. 

In an interview with the Frankfurter 


i!' 1 ' j |V:»* 




overhaul — said he thought refonning 
the European Union should have h|d 
priority over advancing a common ctg- 
rency. His vision for the near future was 
one of a United States of Europe with ji 
real federal character and common fo*. 
eign and constitutional policy. 

If you did not share that view — and 
actually combated it, be said, without 
pointing in any particular direction. — 




! i 1 :- 


I •: 

i ' ■ 


ruined European currency, 
would kill European union. 

A survey published Sunday by the 
Infratest polling group, gave the Socjal 
Democrats 39 percent of Hamburg's 
voters, fee Christian Democrats 30 per- 
cent and the Greens 15 percent. The Ftpe 
Democrats and the extreme right Genirih 
People’s Union each had 4 percent. „ 

An outcome along these lines meant 
Mr. Voscherau, bending to the will of die 
party rank-and-file, would have to con- 
sider a coalition with the Greens. This 
would pre-figure the formula that is of- 
ten described as best sorted for bringing 
the Social Democrats to die chancellor! 
office in 1998. 


1 s#' 


- “ L 


m- 


past statements on the events of 1989. 

Party officials who were close to Mr. 
Zhao declared that the letter was au- 
thentic. 

The timing of die letter coincides wi^ 
the 15th Communist Party congress, an 
event held every five years to map ou^ 
policies of China’s ruling party. 

It is dated the same day as die speech 
by the president and party chief, Jiagg 
Zemin, who replaced Mr. Zhao. 

Mr. Zhao, who held top posts jjn 
Sichuan and Guangdong provinces frer 


i 


isiage 

Mr. Zbao r s ouster - the-^Maese^.gc* 
eminent appears to remain conc ern ed 
that he might pose a political threat 
either to die party or to the current set of 
leaders. 

Since 1989. Mr. Zhao has been kepi 
under a loose form of house arrest, ocj 
casionally allowed to make a trip ont of 
Beijing or to play a round of golf. Even 
his request to attend Mr. Deng’s funeral 
in February was rejected, however, j 
Though Mr. Zhao lost his party posts, 
be is still a party member. His chief aidel 
Bao Tonsg, served eight years in prisorj 
and is s till closely watched after being 
evicted from his Beijing apartment. 


1 




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INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 19 97 

INTERNATIONAL 


PAGE 9 




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CHINA: 

i>l,u "W OafWoui 


Albright Can’t Predict 
Renewed Peace Talks 


’ J . 1 Reuters 

'-'BEIRUT — Secretary of State 
TWadeleine Albright concluded her first 
.tour of the Middle East on Monday with 
X warning that she could not predict 
renewed Arab- Israeli peace negoti- 
ations. 

c,'. “I am an optimist, but I cannot make 
^ny predictions of success based on my 
discussions this week,” Mrs. Albright 
."sard in Beirut on the last stop of a lour 
‘conducted amid a deepening crisis in the 
TJ .S.-led peace process. 

: Her visit ro the Lebanese capital was 
'surrounded with intense security and 
W’as not announced in advance. 

... But she chose to speak in the city, 
which no U.S. secretary of state had 
entered since just after the U.S. Em- 
bassy in Beirut was destroyed by a sui- 
cide bomber in 1983. 

77 Mrs. Albright, on her first visit to the 
Middle East since assuming office in 
January, said the most she had accom- 
plished was getting the parties to talk 
■ibout the possibility of further talks. 

1 1 “I believe that I have accomplished 
.some small steps where big steps were 
^needed, but it is better than no steps.” 
^he said. 

The secrecy about Mrs. Albright's 


visit to Lebanon reflected continuing 
U.S. concern about a country where 
Westerners were routinely kidnapped in 
the 1 980s. She left Amman earlier Mon- 
day. supposedly en route to Washing- 
ton, but she stopped in Cyprus and 
switched to a UH-60 Blackhawk heli- 
copter for the one-hour flight to Beirut. 
The helicopter carrying Mrs. Albright 
landed inside the heavily guarded U.S. 
Embassy compound northeast of the 
city. 

“We must go forward on all tracks.” 
Mrs. Albright said at a joint news con- 
ference with Foreign Minister Fans 
Bouez of Lebanon after a meeting in- 
volving President Elias Hrawi and 
Prime Minister Rafik Hariri. 

“The Lebanese- Israeli track is ab- 
sojutely essential for a comprehensive 
Middle East peace settlement, which the 
United Stales supports and is totally 
committed to,” Mrs. Albright said. 

Lebanon, where about 30,000 Syrian 
troops are stationed, follows the lead of 
Damascus on peace talks. 

Israel halted peace talks with Syria 
early in 1996, and the election of Prime 
Minisrer Benjamin Netanyahu in May 
1 9% on a platform of refusing to return 
the Golan Heights — Syria’s main de- 



SaLct1R1f.11/n1r A-aulcd PYe-< 

Secretary of State Madeleine Albright and Foreign Minister Paris 
Bouez at their press conference at the Presidential Palace on Monday. 


raand — has appeared to block hopes 
for a resumption of the talks. 

Lebanon is the last Arab country with 
an active war front with Israel. Israeli 
forces continue to occupy part of south- 
ern Lebanon, 19 years after their first 
invasion, and fighting with guerrillas 
trying to drive them out has intensified 
recently. Fifteen Israeli soldiers have 
been killed in southern Lebanon in the 
last two weeks. 

Hezbollah, the militant Shiite 
Muslim group leading the armed fight, 
issued a statement saying it was as- 
tonished any that Lebanese leader 
would want a visit by Mrs. Albright. 


ISRAEL: Netanyahu Faults Settlers for Move Into East Jerusalem 

Continued from Page 1 issue a press release Sunday hailing a tiers’ intention before, and had worked 


and it came the day after Mr. Netanyahu 
reaffirmed his opposition to the con- 
struction of apartments for Jews on an 
adjacent site, in the Arab neighborhood 
of Ras al Amud. 

The building occupied by settlers 
Monday is owned by Dr. Irving 
Moskowitz, the American financier 
■who is also behind the apartment proj- 
ect. Dr. Moskowitz is known for his 
Tong- standing efforts to buy up prop- 
erties in East Jerusalem and other sup- 
port for far-right causes in Israel. 

. “We believe that what is happening 
right now in Ras aJ Amud is no good for 
Jerusalem,” Mr. Netanyahu said in a 
speech to American fund-raisers. “It’s 
tier good for the state of Israel. We think 
on the sensitive issues we should be the 
tines who are makin g the decisions, not 
jrftaneuvered into them.” 

‘7. The government was reported to be 
studying whether h had the right to evict 
tHe settlers on security grounds. Their 
‘legal rights to the building were not 
auestioned, by the government or by the 
Palestinians. 

“A spokesman for Dr. Moskowitz said 
ffe was in Jerusalem, but was not avail- 
aBle for comment He did, however. 


issue a press release Sunday hailing a 
decision by the Jerusalem municipal 
planning board to confirm its approval 
for his apartment projecL It was this 
action that prompted Mr. Netanyahu to 
reaffirm his intention, first declared in 
July, to block the construction. 

Making no mention of Mr. Netan- 
yahu's opposition or of the impending 
settlement of an existing house. Dr. 
Moskowitz said his proposed housing 
was “a vital safeguard for the unity of 
Jerusalem, as well as a litmus test of 
Pales tinian willingness to live in peace 
and cooperate with Jews on a common 
ground.” 

The timing of the occupation led to 
widespread speculation that the action 
was intended to put pressure on Mr. 
Netanyahu, in the immediate aftermath 
of Mrs. Albright’s visit, not to abandon 
the rightist agenda. Israeli radio report- 
ed that many cabinet ministers knew in 
advance of the plan to move into Ras al 
Amud, though it was a matter of dispute 
whether the prime minister knew. 

There were reports that he was ad- 
vised of the action only shortly before it 
took place, and was advised that there 
was no legal ground on which to block 
it. But there were also reports that Mr. 
Netanyahu had been aware of the set- 


tlers’ intention before, and had worked 
to delay the move until after Mrs. Al- 
bright's visit. 

The reported disputes were remin- 
iscent of previous actions that were ap- 
parently imposed on Mr. Netanyahu, 
and developed into major crises. One 
was the opening of the Western Wall 
tunnel a year ago, a project in which Dr. 
Moskowitz was also involved, and 
which led to violent clashes with Pal- 
estinians. Then in March, after Mr. Net- 
anyahu agreed to the Israeli withdrawal 
from much of Hebron, hard-line mem- 
bers of the cabinet demanded that he 
approve construction of a new Jewish 
neighborhood in East Jerusalem, Har 
Homa, which led to the collapse of 
political contacts with the Palestinians. 

The move drew loud protests from 
Palestinians and Israelis. 

Foreign Minster David Levy, who 
has expressed growing concern over the 
erosion of the Israel i-Paiestmian peace, 
said, “It's sad to see that every time 
progress seems to be made in the peace 
process, such actions occur, which are 
unnecessary and damaging." 

Inside the house, the settlers and their 
supporters celebrated, raising Israeli 
flags all over the house and putting up 
stickers that read, “Jerusalem is ours.” 


Secretary on a Seesaw 

Too Early to Judge Mideast Balancing Act 


But Mr. Bouez said he hoped her visit 
marked the return of the United Slates 
“as a driving force and an honest 
broker” in Arab-Israeli peace talks. 

“The role of the United Slates is 
indeed essential for the resumption of 
negotiations,” he said. 

In Beirut, Mrs. Albright rode through 
the streets in a convoy of about 20 
vehicles that included armored vans 
manned by U.S. Embassy guards and 
armed with machine guns. 

“I only point to the very special ar- 
rangements that had to be made for me to 
come here, " she said after she was asked 
about U.S. views of security in Lebanon. 
“It is not my normal travel mode." 

Beirut is a place of grim memories for 
the United States. After (he 1983 bomb 
attack that destroyed the U.S. Embassy 
another suicide bomber in a truck killed 
241 U.S. servicemen later in the year, 
prompting a withdrawal of the U.S. 
force that had been intended to restore 
stability after the 1982 Israeli invasion 
of Lebanon. 

■ Cyprus Rivals Agree to Meet 

Mrs. Albright announced Monday 
night that the Cypriot president, Glafcos 
Cierides. and the Turkish-Cypriol lead- 
er, Rauf Denktash. had agreed to meet to 
discuss security issues, Agence France- 
Presse reprated from Larnaca. Cyprus. 

“I am pleased to announce that earli- 
er today President Cierides and his ex- 
cellency Rauf Denktash informed the 
United States of their willingness to 
meet soon on Cyprus to discuss security 
issues,” she said. 

“This is a substantial step for im- 
proving the climate for serious nego- 
tiations on the core political issues.” 
Mrs. Albright said after arriving in Lar- 
naca from Beirut at the end of a Middle 
East tour. 

The U.S. envoy for Cyprus. Thomas 
Miller, held separate talks Monday in 
the divided city of Nicosia with Mr. 
Cierides and Mr. Denktash. who failed 
to make any progress during talks in 
Switzerland last month. 


By Steven Erlanger 

New York Times Seri n e 

AMMAN — As a measure of the 
deteriorating peace efforts in the Middle 
East, even the Davis Cup tennis team 
from Morocco — one of the Arab coun- 
tries warmest to Israel — has refused to 
go there to play. 

While security fears were cited as the 
reason, U.S. officials interpret the de- 
cision as a protest against the policies of 
Prime Minister Benjamin Netanyahu 
and an example of the increasing new 
isolation of Israel in even the moderate 
Arab world. 

In her fust official visit to the Middle 
East, which ended after a surprise visit 
to Lebanon on Monday, the U.S. sec- 
retary of state, Madeleine Albright, has 
found herself having to try to restore 
even the semblance of negotiations 

NEWS ANALYSIS 

toward peace. She has had to try to 
reduce the swelling distaste and distrust 
between Mr. Netanyahu and Yasser 
Arafat, the Palestinian leader, who is 
nostalgic for Israel ’s Labor Party and its 
leaders who signed the Oslo accords 
with him on the White House lawn four 
years ago. 

Mrs. Albright ’s delicate task has been 
lo push a deeply divided Israel hard 
enough to persuade it not to damage its 
own interests. And if Mr. Arafat or Mr. 
Netanyahu will not take up her chal- 
lenge to make the “hard decisions” 
needed to restart peace talks, she wants 
to protect U.S. strategic interests in the 
Middle East from collateral damage. 

She had to warn Mr. Arafat that the 
United States — let alone the Israeli 
government — would no longer tolerate 
his use of security cooperation with 
Israel as a negotiating lever. 

She had to support Mr. Netanyahu in 
his security concerns. But she also had 
to warn him that they cannot forever be 
a pretext to keep from dealing seriously 
with the political issues of real peace and 
partnership — or at the minimum, rap- 
prochement — with the Palestinians. 

With the American-built regional co- 
alition against Iran and Iraq fraying 
badly, Mrs. Albright had to go to the 
Middle East to appear to be trying her 
best to work as an “honest broker" for 
peace and to be heard speaking with at 
least some sympathy and understanding 
for the situation as moderate Arabs and 
Palestinians see it. 

A prolonged collapse of peace ne- 
gotiations would lead to more radical 
and fundamentalist pressures on mod- 
erate Arab governments, the further iso- 
lation of Israel, the undermining of Mr. 


Arafat by a frustrated and impoverished 
Palestinian population, a probable in- 
crease in terrorism and violence and a 
major fracture in the strategic position 
of the United States in the Middle 
East. 

Mrs. Albright had to begin to fix all 
that in the aftermath of the second sui- 
cide bombing episode in recent weeks, 
when the Israelis needed reassurance 
about their security. She also had to 
manage the entire initiative without get- 
ting President Bill Clinton into too 
much trouble wiih a pro- Israel Congress 
and Democratic Party at home. 

With so much at stake, it is really too 
early to say whether this much-post- 
poned first trip to the region has been a 
success or a failure. She herself was 
relatively honest about the paucity of 
her achievement, but for once she may 
have been selling herself a little short. 

While she made it clear that “big 
steps” were needed — from Mr. Net- 
anyahu and Mr. Arafat, she was careful 
to say, not from the United States — she 
did manage to arrange a series of meet- 
ings on both the Palestinian- Israeli and 
Israeli-Syrian negotiating tracks. 

Neither is likely to go very far very 
fast, but they did break the sense of 
deterioration' and stalemate and bought 
everybody some time. 

They helped to restore a sense of 
American engagement. And she was 
outspoken about the damage done by 
such unilateral Israeli actions as settle- 
ment expansion, urging Mr. Netanyahu 
not to deepen the frustrations and hu- 
miliations of the Palestinians needlessly, 
while decrying the radical Arab terror- 
ism that also threatens every Arab state. 

These accomplishments alone pro- 
duced complimentary sighs of relief 
from Arab leaders ranging from Pres- 
ident Hosni Mubarak of Egypt and King 
Hussein of Jordan to less predictable 
figures like King Fahd of Saudi Arabia 
and the country’s conservative crown 
prince. Abdullah ibn Abdulaziz. 

Mr. Mubarak said her trip had pro- 
duced unexpected results and had cre- 
ated new hope for peace efforts, telling 
her that she was being seen “in a new 
light” throughout the Arab world. 

Prince Abdullah, who has warned 
that Saudi Arabia might boycott an 
American-sponsored regional econom- 
ic meeting in November in Doha, Qatar, 
said, “This is what we always looked 
for and admired, a secretary of state who 
is brave and frank at the same time.” 

Even taking into account traditional 
Arab chivalry — King Fahd met her 
uncharacteristically early in the evening 
and did not keep her waiting — Mrs. 
Albright clearly made a favorable first 
impression. 


BRIEFLY 




\ I 1 


% > 


■Egypt Dooms 4 as Terrorists 

? HELKSTEP, Egypt — An Egyptian court sentenced 


** Islamic Group militant organization. 

Chants in Arabic of “God is great!" rose from the 
1 -defendants, crowded into a cage in the courtroom after the 
,7 verdicts were read out at the Heikstep military base 
'^outside Cairo. 

Mohammed Fawzi was sentenced to death for being a 
• leader and member of an illegal terrorist group and for 
f possessing explosives with the aim of desta b ilizi n g public 

.-order. . ... . . 

" • The Islamic Group is the largest militant organization 
'7 fighting to set up a version of an Islamic state. ( Reuters ) 

j Tanzania Pleads For Food Aid 

DAR ES SALAAM — President Benjamin Mkapa 
'.declared a national food emergency Monday, banned 
' food exports and appealed to Western donors for 9 1 6,000 
-tons of food aid. _ „ . 

In an appeal for help to ambassadors at State House, ms . 
official residence, Mr. Mkapa said the food aid would cost 
-an estimated 514.5 million, excluding transport costs. 

^ “I cannot overstate the seriousness of the food short- 
*'age, indeed famine, facing a large part of the country;’ ’ he 
7-stud, especially in corning months. (Reuters) 

■■U.S. Envoy to Vatican Resigns 

BOSTON — Raymond Flynn said Monday that be was 
resigning his position as U.S. ambassador to the Vatican 
—this weekend. , . . 

He intends to return to Massachusetts to consider a 
possible bid for governor next year, he said in a telephone 

call from Rome. __ _ e , , 

Mr Flynn, who served as mayor of Boston for a decade 
before being named a diplomat by President Bill Clinton 
in 1993 planned to submit his resignation Tuesday- 
The white House has already said it would nominate a 
. ^former representative, Lindy Boggs, to the dosl 
. In an interview two weeks ago, Mr. Flynn all but 
...declared that he planned to seek the Democratic guberna- 
torial nomination in 1998. ' A ' 

Rail Line Severed in Colombia 

BOGOTA — A stretch of rail line linking Colombia s 
*fcerreion Norte coal min e with the Caribbean coast was 
"cblown up over the weekend, halting all shipments be- 
7-tweeu the mine and port, officials said Monday. 

a spokesman for the Exxon subsidiary Intercor, which 
Operates the mine with state-run Carbonesde Colombia, 

J said the attack by suspected National Liberation Army 
rebels derailed 27 cars with 270 tons of coal. ( Reuters ) 


FishDying 
By Thousands 
In Maryland 

Sen- York Times Service 

DRAWBRIDGE, Mary- 
land — Thousands of fish in 
the Chicaraacomico River 
have been stricken with a mi- 
crobial affliction, leading the 
state to dose yet another wa- 
terway to fishing and recre- 
ation and adding to the ur- 
gency of a festering new 
environmental problem for 
Chesapeake Bay. 

It was the third time since 
early August that Governor 
Pams Glendening of Mary- 
land had ordered the closure 
of one of the bay’s tributaries 
on the state’s Eastern Shore, 
where sport and commercial 
fishermen and boaters prop 
up half of the economy and 1 
chicken farms and cornfields 1 
sustain the other half. 1 

The gaping raw sores on 1 
the 4-inch- long menhaden, , 
which are a common bait fish 
for crabbers in the area, are 1 
the classic symptom of Pfi- \ 
esteria piscicida . a little-un- 
derstood microbe discovered j 
only a few years ago that can 1 
assume a toxic form. , 

It has been blamed not only 
for killing fish but also for I 
rashes, flu-like symptoms and j 
even short-term memory loss 1 
among some people who j 
have come into contact with it 
while fishing or conducting ! 
research. _ | 

Just what causes Pfi esteria ' 
to turn toxic is not certain, but | 
chronic problems with the , 
microbe in North Carolina are . 
thought by many scientists to 1 
be related to polluted runoff 
from hog farms. 

In this part of Maryland, 
the attention is focusing os 
chicken farms, whose manure 
enriches the cornfields that 
are drained by ditches that 
feed directly into some of the 
affected streams. The nutri- 
ents in the manure runoff 
provide a medium for mi- 
crobes to flourish. 


tv, MEMQRnj*L__. 

. .j* Andy MAC ELHONE 

jonod 

7‘‘ Harry 

ihc founder of 
Hairy's New York Bar. Paris. 

‘7 who emptied his lasigbss 

"ot the 16di of September. 19% 

__ Let ufcwbo knew, torn! and 
rfcspecied him. raise our glasses. 

7* • Cheers! 

I "Alba pJ brach' 

j'Jirom his beloved wife. Gabriele. 

i«i — 


dining 


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INTERNATIONAL 



tribune 


Reno Should Step Aside 


The torrent of disclosures erf” political • G®* vioIatedf«ia^ laws bjyso 
fund-raising abuses by the Donocrate citmg money from big donors from his 
last year has no doubt had a numbing officeat the White House. 


effect on many people. But if ordinary 
citizens find it hard to keep track of the 
shady characters, bank transfers and 
memos suggesting that Vice President 
Al Gore and others knew what they say 
they did not know, the Justice Depart- 
ment has no excuse. Recent weeks have 


or over their heads. Even worse, At- 
torney General Janet Reno's failure to 
seek an independent counsel to ov ersee 
the probe no longer looks like a ^prin- 
cipled assertion of faith in Justice’s ca- 
reer staff. It looks like a political block- 
ing operation to protect President Bill 
Clinton and Mr. Gore from the vigorous 
investigation that would be aimed at any 
other officeholder who had received so 
much suspicious money. 

Earlier this month, Ms. Reno was 
warned by Republicans in the House 
that “the mooa in Congress to remove 
you from office grows daily.” That is a 
drastic step we are not quite ready to 
endorse. But the congressional frustra- 
tion is understandable in light of recent 
developments. It is hard to fathom, for 
example, why Justice Department in- 
vestigators were so clearly taken by 
surprise when it turned out that the 
Democratic Party had engaged in a sys- 
tematic scheme of juggling its bodes, 
transferring money from one account to 
another in possible violation of the Jaw. 
Had the investigators been doing their 
job. they would have also discovered 
months ago that the basis fra* Ms. Reno's 
repeatedly sayin g that there were no 
credible allegations of wrongdoing 
against Mr. Gore was flat wrong. 

After disclosures in the press that the 
Democrats mixed campaign accounts 
that are supposed to be rigidly separate, 
Ms. Reno abruptly announced that her 
department would actively consider 
asking for aspecial counsel to take over 
the case. But there is no need for delay 
in recognizing the obvious. Moreover, 
it would be a political subterfuge to 
limit the special counsel to Mr. Gone. 
His boss has earned one, too. 

The first order of business ought to 
be fixing responsibility for the Demo- 
crats’ fund-raising abuses, not simply 
the shuffling of accounts but whether 


There may be a temptation among 
Democrats and others to suggest that 
bookkeeping violations are incon- 
sequential But that would be a fun- 
damental misreading of the issue. The 
reasons go back to the reforms that 
followed the biggest political scandal 
in modem American history. 

Watergate led tx> two historic 
changes in American politics. First was 
the establishment of a process in which 
the attorney general may seek the ap- 
pointment erf a special prosecutor, 
which later became known as an in- 
dependent counsel, to investigate cases 
a gains t top administration officials. In 
1993, when the statute was renewed, 


Ms. Reno herself affirmed the impor- 
tance of being able to turn to an outside 
counsel to avoid “an inherent conflict 
of interest’' when the attorney general, 
an appointee of the president, must 
oversee an investigation that could 


damage the adminis tration politically, 
is burdened by that conflict today. 


She 


Watergate also produced limits on 
campaign contributions that were flag- 
rantly violated last year, Sincel974, it 
has been illegal for an individual to 
.contribute more than $1,000 to a fed- 
eral candidate per election or more than 

A/lA I 


$20,000 per year to a political party for 
senses. Individu- 


chere were any ^uid pro quos for all 

major position of responsibility knew 
t fan 


those donors ana whether anyone in a 


nyone 
liuty 1 


of toe laundering of money and illegal 
transfers of mods from foreign 
sources. Among toe highest priorities, 
in addition, is determining whether Mr. 


candidate election expenses 
als may not give more than $25,000 in 
such contributions a year for all can- 
didates and parties put together. These 
strictly limi ted contributions that are 
used for direct candidate support are 
called “hard money.” Federal election 
law separates hard gifts from the un- 
limited “soft money ” that can be given 
to the parties for their operating and 
promotion efforts. Last week we 
learned that toe Democratic National 
Committee routinely deposited soft 
money in its hard money or candidate 
accounts without informing the donors. 
Although some of toe money was later 
shifted to other accounts, it is clear that 
toe DNC was casual about one of toe 
law’s most basic distinctions. 

Ms. Reno’s primary duty is to up- 
hold the laws on the books. But her 
Democratic loyalty seems to flow to- 
ward those bearing endless legalistic 
explanations as to why the laws either 
do not mean what they say or can be 
ignored with impunity. She should step 
aside and let someone with a less par- 
tisan view of law enforcement take 
over toe crucial task of investigating 
toe White House money flow. 

— THE NEW YORK TIMES. 


Connecting in Cyberspace 


A couple of very big plates are shift- 
ing in the underpinning of cyberspace 
with toe announcement that America 
Online, toe biggest of toe on-line ser- 
vice providers, will sell its technical 
functions to the long-distance company 
WorldCom and focus on providing 
“content” to subscribers. It’s the latest 
gamble, a fairly daring one, against a 

landscar 


as to what people really are going to 
want from toe Internet now that the first 


hectic techno-novelty is wearing off. 

America Online began with toe no- 
tion that people want not just the un- 
limited capabilities of linkup and in- 
formation-gathering offered by 
cyberspace but something more hu- 
man and manageable: a place to go 
once they get there. More successfully 
than many other services, AOL 
stressed toe encouragement of on-line 
“communities” — spaces for lovers 
of word games to get together and play 
them in toe evenings, to swap stock tips 
or argue about politics or other topics 
with a greater sense of safety than they 
get in toe uncharted and stormy spaces 
of the open Internet or the freewheel- 
ing "newsgroups.” 

The communal spaces have caught 
on to the extent of altering behavior It's 
no longer unusual to hear of people 
taking a vacation to meet the members 
of their AOL group in person, and some 
of these conventions evidently satisfy 
the participants as actual, not just virtual 
connection. Along with this social 
sculpting has come toe more visible 
public face of AOL users as a bunch of 
people who expect more from their 
service than a mere utility and are noisy 
about demanding it when toe still quirky 


re’s clients to the AOL stable. 

demands its network could no longer 
handle, AOL is sending the message 
that the real future ofthe Internet lies not 
in its technical magic — connecting you 
to everyone — but in toe old cultural 
service of connecting you to someone. 

A lot of people, in the “content” 
industries and toe “connection” in- 
dustries, will be urgently interested in 
whether this diagnosis of the new tech- 
nology’s possibilities proves right (The 
Washington Post Co., which provides 
on-line content, obviously shares this 
interest.) But it’s worth keeping in mind 
that this is a diagnosis that emphasizes 
not what’s new about toe new tech- 
nology but what's old and familiar — 
and perhaps what its limits are for such 
things as hooked-up classrooms. As 
with so many technologies, it’s not 
enough to offer people everything. And 
* ‘everywhere” is the last place anyone 
wants to spend a lot of time. 

— THE WASHINGTON POST. 


Other Comment 


China’s Third Revolution 


technical side of things hangs ujx 


It’s this technical side that AOL now 
has said it will hand off to WorldCom, 
in a tremendously complicated deal that 
also involves toe addition of rival Corn- 


Curbing the power of state and party 
is toe essence of China’s third rev- 
olution. For China’s leaders, it is a 
dangerous prospect: The party must 
give way not just to new factory 
owners but to an independent judiciary 
and other disinterested arbiters of 
conflicting rights and claims. Ordin- 
ary people must be granted far greater 
control over their lives: where they 
live, how they work. Ultimately, that 
will renew demands fa: people to 
have a greater say in how they are 
governed. 

— The Economist (London). 


+ 4 k i'VTEHJ'mWFMJ- m* 0 4 

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TUESDAY, SEPTEMBER 16 . 1997 


editorials/opinion 


PUBLISHED WITH THE NEW YOU TIMES AND THE WASHINGTON TO St 



Despite Cheerful Talk, Poverty Just Gets Worse 

L _ _ ■ „ „ - a secondary-school education often 


N EW YORK — The mandarins of 
global firm nfj> and fiscal policy are 
gathering in Hong Kong for the annual 
meetings of jfceworld Bank and the 
International Monetary Fund. Some 
15,000 bankers, financ e ministers and 
deacons of the development business 
will doubtless cheer one another — in 
between the banquets and receptions 
— with data showing the world's econ- 
omy to be more buoyant than in many 
years, stock markets to be generally 

1 __ ■ a*. La kink 


By Pranay Gnpte 


“developing” countries that can least 
afford to support such staggering pop- 
ulation growth. Each year 24 million 
women eater toe childbearing stage in 
poor countries. Chronic water short- 
ages, mounting environmental degra- 
dation, urban congestion, high crime, 
rising numbers of abortions, increasing 
drag use — all these are established 


treprenenrship, on access to apjjti 
as if repeating these mantras will mi- 
raculously foster a new environment or 
growth and change in languishing. so - 
cieties. (Ironically, toe five incipient 
powerhouses cited by toe World Bank 
_ Brazil, China, India, Indonesia and 


Russia — also figure among the most 
corrupt nations cited by the respected 
Berlin-based watchdog Transparency 


booming, corporate earnings to be high consequences of galloping population 
and a sense of well-being pervading the growth. 

And add to toe list- the endemic 
bureaucratic corruption that plagues 
the Third World and siphons scarce 
resources from social and economic 


International.) , 

But as the late Mother Teresa and 
Diana, Princess of Wales — neither a 


industrialized nations. 

They will miss the point 

Sure, economic growth in develop- 
ing countries may accelerate over the 
next 25 years, as a new World Bank 
report has forecast, and toe five biggest 
emerging economies — Brazil, China, 
India, Indonesia and Russia — may 
become economic powerhouses in the 
foreseeable future. True, more and 
more developing-world markets are 
opening up to Western exporters, with 
shops stocked with such brand names 
as Nike and Sony, and with people of 
all colors happily guzzling Coke and 


tut the real point is chat never have 
there been more poor people in our 
world, and never has toe world kept 
adding more poor people to its pop- 


adding more poor people to its pop- 
ulation. Nearly a third of toe global 
population of 5.8 billion lives in “ab- 
solute poverty,” defined as per-capita 
income of less than the equivalent of 
$370 annually. Some 82 countries are 
unable to produce or buy sufficient 
food fra- their populations, according to 
toe W ashing ton-based Population In- 
stitute, even as a record 100 million 
children are being bom each year in 


development 
But who wants to hear about these 
inconvenient realities nowadays? De- 
velopment institutions, such as the 
.World Bank and the IMF do well by 
poverty,, their administrators are given 
tax-free salaries and enviable perks in 
order to dream up ways to generate 
universal prosperity. Indeed, new bur- 
eaucracies, such as the UN’s Com- 
mission on Sustainable Development, 
have sprouted to promote a notion that 
no one has quite figured out. 

The bottom tine, starkly put, is that 
despite all the cheerful talk of global 
economic growth, there are more chil- 
dren going to bed hungry each night, 
more mothers having unwanted babies 
because of inadequate family-planning 
services and more people in need of 
jobs. 

It may be unfashionable to harp on 
poverty and overpopulation in glam- 
orous conference chambers in Hong 
Kong. At development taikfests, toe 
emphasis is on nee markets, on en- 


Population growth in 
the Third World has 
increased the ranks of 
the poor, not of those 
tvith purchasing power 
for goods peddled by 
Western exporters . 


re- 
sults in later marriages, the study 
shows, for example, that a Peruvian 
woman who has completed 10 years 
of education typically has two or 
three children, while a woman with 
no formal education has up to 10 chil- 
dren Smaller families often mean 
betier health care for children and 
enhanced economic prospects for 

^And yet investment by donor coun--- 
tries in population control and repro- 
ductive health is shrinking — toe an- 
nual figure is about$5 billion, a tenth of 
toe overall development .aid. to the . 
Third World. 

The United States, a traditional lead- 
er in population issues, spends less than 
$1.50 per capita for population aid to 
developing countries, and toe ideolog- 
ical sentiment in Congress is toward 
reducing such aid. 

Strengthening programs that focus 
on population ana reproductive health, 
d creating better education and job 


an 


“sustainable development” Brahmin 
— would often say, global poverty 
cannot be wished away. It’s fine for toe 
private sector to invest in Nike fac- 
tories, but where’s the investment in 
social development? 

The Hong Kong crowd might do 
well to rededicate themselves to slow- 


ing population growth through more 
attention to reproductive health, edu- 
cation for girls and employment for 
women. 

An important new study by Pop- 
ulation Action International, a Wash- 
ington think tank, has shown that great- 
er access to schooling for girls and 
young women leads to lower birthrates; 


opportunities for women, are ’ 
ways of investing in people’s well- 
being. Adding more people to toe 
world doesn’t necessarily mean that 
markets get bigger. Population-growth 
in the Third World has thickened the 
cohort of the poor, not of those with 
purchasing power for goods peddled by 
Western exporters. 

The lesson for those in Hong Kong? 
The poor may always be with us, but 
they do not need always to be im- 
prisoned in poverty in such vast and 
growing numbers. 


The writer, editor and publisher qf 
The Earth Tunes (New York), contrib- 
uted this comment to Newsweek. 


A Crisis of Logic in the Mideast: 6 Like This We Can’t Go On’ 


J IDDA — The father of one of 
the Israeli commandos killed 
in Lebanon earlier this month 
said something after his son’s 
funeral that pretty well summed 
the mooa in Israel. Loosely 


By Thomas L. Friedman 


up 


translated, he said: “1 just have 
this to say to tiie prime minister: 
‘If it's going to be war, then 
let’s have war. If it’s going to be 
peace, toes let’s make peace, 
but like this we can’t go on.’ ” 

The latest suicide bombers, 
combined with a rash of Israeli 
deaths in Lebanon, have had a 
paradoxical effect on Israeli so- 
ciety: They have combined to 
discredit toe Oslo peace process, 
while at toe same time intensi- 
fying the desire for a solution — 
even a radical solution. 

Hawks and doves, Likudniks 
and Laborites, religious and sec- 
ular do agree on one thing: that it 
simply can’t go on like this. 

As a result. Prime Minister 
Benjamin Netanyahu is in an 
unusual position. Tomorrow be 
could announce that he is uni- 
laterally annulling toe Oslo 
peace treaty, or tomorrow he 
could announce that he is uni- 


laterally withdrawing from 75 
percent of toe West Bank in 
accordance with Oslo — and he 
would have a majority in Israel 
for either move. 

In its original conception, the 
peace process was supposed to 
generate a powerful emotional 
response: a belief in coexistence. 
In reality, the process has gen- 
erated in Israel a powerful emo- 
tion, but not toe one intended. It 
is the emotional desire for sep- 
aration — whether it is done 
unilaterally, through Oslo, 
through a closure of the occupied 
territories or any other way. Just 
get this conflict out of my life. 

Nurit Peled-Elchanan, toe 
daughter of one of Israel’s most 
dovish generals and the mother 
of a 14-year-old girl killed in toe 
latest Jerusalem suicide bomb- 
ing, told toe Ha’aretz newspaper 
last week foal Mr. Netanyahu 
had telephoned her with his con- 
dolences after toe bombing. 

“What have you done?” she 
asked him. He answered that he 
had done all he could. “Then 


build a wall between us and 
them,” she said. 

What ails the peace process is 
not just a crisis of confidence. 
It’s a crisis of logic. It’s not only 
that each side doesn't trust the 
other; it’s that nothing makes 
sense. Opposite causes produce 
the same effect: There are sui- 
cide bombers when toe peace 
process moves ahead ana sui- 
cide bombers when the process 
is stuck. And toe same causes 
produce opposite effects: Mr. 
Netanyahu strikes a Hebron 
deal one day and undermines it 
toe next by building in Har 
Homa; Yasser Arafat exposes a 
cell of Palestinian suicide 
bombers in Beit Sahur one day 
and kisses toe leader of Hamas 
the next Closure of the terri- 
tories increases Israel’s security 
and decreases Israel’s security. 
Everything that happens, for 
good or ifi, seems utterly ran- 
dom. Oslo is no longer a peace 
process. It’s a Tolstoy novel. 

In this maelstrom. Secretary 
of State Madeleine Albright's 


strategy makes sense. It is to 
bluntly cut through the layers of 
chaos and try to revive the emo- 
tional bond that has been toe 
basis of every other Arab-Is- 
raeli peace. It was the bond of 
trust between Anwar Sadat and 


instincts of foe Israeli pubtitp. 
Right now, there is no logical 
connection for Israelis between 
toe peace process and their pert 
sonal security. That is death for 
Oslo. I know yon and yodr 


Bombs go off when 
the peace process 
moves ahead ; 
bombs go off when 
it gets stuck. 


that Bibi not only wants to 
melt down Oslo, but to melt you 
down personally. But we’re net 
here to talk abouifaimess. We’rfc 
here to talk about what might 
work. You can’t comer Bibi by 
hying to enlist toe United States. 
The Congress won’t let yott. 
You can only effectively coraw 


him. and force him to abide by 
> Israel 


i peopl 

Camp David. It was toe bond of 
trust between King Hussein and 
. toeisraeffpeople that made toe 
Joidan-Jsrael peace, and only if 
there is a bond of trust between 
Mr. Arafat and toe Israeli 
people will Oslo proceed. 
That’s why Mrs. Albright’s 
strategy starts with the Pales- 
tinian leader. Her basic line with 
him has been: I'm not asking you 
to trust Netanyahu’s instincts, 
but I am asking you to trust the 


Oslo, with the help of the . 
people. Listen to the mood in 
Israel. They’re ready to reccg*- 

tomoirow. But only if they’re 


sure that toe legitimate right of 
sople not to be'ran- 


the Israeli peopl 
domJy blown up at the grocery- 
store will be protected. Persuade 
Israelis that you understand that 
and toe mood in Israel will work 
for you. Ignore that, and it wgl 
consume you. * 

The New York Times. » 


In Seeking a ‘Third Way,’ the Dutch Model Is Worth a Look 




A msterdam — T he con- 
trast between a lean wel- 
fare state with rapid job growth 
in the United States and a costly 
social welfare system with per- 
sistently high unemployment in 
most of Europe has given rise to 
a new debate. 

Is the American model the 
way of the future, as President 
Bill Clinton lectured toe as- 
sembled leaders of the Group of 
7 and Russia earlier this sum- 
mer? Can toe generous welfare 
and job security system of the 
Europeans survive global iza- 


By Ruud Lubbers 


tion, as the French are attempt- 


ing to prove with their new So- 
cialist government? Or is there 


lalist gc 

a “third way” between the two 


5. as Prime Minister Tony 
Uair of Britain insists? 

1 think there is a third way. as 
seen in practice in toe Neth- 
erlands. Inevitably any talk of a 
third way has focused on toe 
Dutch case because we have 
successfully tackled the unem- 
ployment problem that plagues 
toe rest of Europe, while at toe 
same time remaining within the 
European tradition that em- 
phasizes quality of life rather 
than growth at any cost 

What, then, is toe “Dutch 
way”? 

The first thing to understand 
about the Dutch success of toe 
2990s is that it is a product of 
the “Dutch disease” of the 
1970s. To simplify a great many 
complicated events over many 
years: In the 1960s the Dutch 
welfare state was financed by 
toe real growth of productivity 
that resulted from investments 
in infrastructure, education and 
vocational training. 

By the 1970s. however, the 
welfare state had “overma- 
tured" through a combination 
of political blindness and the 
easy temptation of rapidly in- 
creasing national income due to 
natural gas reserves. The wrong 
incentives had begun to erode 
Dutch discipline. 

By 1982 unemployment was 
rising structurally at a rate of 2.5 
percent per year. In response, a 
new government was elected 
with the mission of curing the 
Dutch disease and restoring bal- 
ance to our society. 

Adopting a no-nonsense pos- 
ture, toe new government broke 


with toe Keynesian orthodoxy 
of the past by reducing the 
budget deficit fby cutting sub- 
sidies and freezing civil service 
incomes and public sector hir- 
ing, among other measures), 
stuffing to investment-oriented 
policies and placing a priority 
on job creation over the in- 
crease of personal income. 

“Jobs, jobs jobs” was the 
theme. 

One of the first acts of this 
approach was to threaten em- 
ployers and trade unions with a 
wage freeze unless they agreed 
to find a way to moderate wage 
growth and devise a program of 
new employment through work 
sharing, or the so-trailed 
“spreading of jobs." 

This government pressure re- 
sulted in toe Agreement of 
Wassenaar, named after the 


We have tackled 
the unemployment 
problem that 
plagues Europe 
while remaining 
within the 
European tradition 
that emphasises 
quality of life 
rather than growth 
at any cost 


small village near The Hague 
where toe employers and unions 
met to revamp the old collective 
bargaining arrangements. 

At Wassenaar. they initiated 
a new approach to negotiations 
in which wage moderation on 
the part of the unions would be 


"bought” in exchange for new 
pan-time jobs, early retirement 
schemes and fewer working 
hours. (Later on, toe provision 
of temporary jobs by employers 
would become an additional 
means for giving young new- 
comers access to toe labor mar- 
ket.) This “wage restraint for 
jobs" agreement was toe real 
beginning of toe Dutch mir- 
acle. 

Instead of industry-wide 
pacts, contracts have been tail- 
or-made for companies and 
their employees, so as to 
provide for toe greatest flex- 
ibility in allocating toe number 
of working hours and the num- 
ber of jobs. In this way. for 
example, a couple might have 
1 .5 jobs instead of two full-time 
jobs, giving them more leeway 
in their personal lives for other 
activities, including raisins 
children. 

At the outset, of course, it 
was difficult to find ways to 
“spread jobs.” And there were 
confrontations between the 
government and the unions, 
particularly over wage cuts for 
civil servants. 

By 1986, however, the ben- 
efits of the new arrangements 
were apparent enough that the 
government was returned to 
power in an election land- 
slide. The no-nonsense policies 
had paid off politically. 

With that mandate, the gov- 
ernment took the next step and 
re-engineered the incentive sys- 
tem of the welfare state, placing 
more risk on companies and in- 
dividuals and less on the 
government. 

Under the re-engineered sys- 
tem. individuals could "no 
longer count on so much gen- 
erosity from the state if they lost 
their jobs or refused to accept 


new system of pared-down wel- 
fare state and “wage restraint 


forjobs" was fully accepted 
: of this 


Due to (he success of this bal- 
anced trade-off over the years, a 
sense of social trust has de- 
veloped between employers and 
trade unions. Indeed a positive, 
"win-win” atmosphere has 
taken possession of toe country 
as each side has learned to see 
change working to its benefit. 

Politically, this trust has 
meant that the difference be- 
tween the main parties has be- 
come so small that the continu- 
ity of policies has proven 
possible whichever coalition 
has been in power. The present 
prime minister, Wim Kok, is a 
Social Democrat and former 
trade union leader. Yet, in co- 
alition with conservatives, he is 
continuing the policies of my 
previous Christian Democra tic- 
led government 

Although the new Dutch w ay 
was initiated before the trend of 
post-Cold War globalization, 
today’s more borderless world 
only reinforces the need for so- 
cieties to be able to organize 


themselves with greater flexib- 
ility. Unlike much of the rest of 
Europe, therefore, we Dutch 
have not reacted to globalizatioh 
with fear but have accepted it as 
a positive challenge. 

At toe same time it is true fodt 
toe Dutch are not aiming to max- 
imize gross national product pdr 
capita. Rather, we are seeking tp 
attain a high quality of life, a 
just, participatory and sustain 
able society that is cohesive. J 

Thus while the Dutch econ- 
omy is very efficient per work- 
ing hour, toe number of work- 
ing hours per citizen is rather 
limited. By 1996, 36.5 percent 
of the Dutch work force was 
employed pan rime. We like it 
that way. There is more room 
for all those important aspects 
of our lives that are nor part of 
our jobs, for which we are not 
paid and for which there is nev- 
er enough time. 1 


The writer is the former 
prime minister of The Nether- 
lands. This article was distrib- 
uted by the Los Angeles Times 
Syndicate. 


IN OUR PACES: 100, 75 AND 50 YEARS AGO 
1897: Bohemian Front 

PRAGUE — The Austrian, Gov- 


ernment is becoming alarmed at 
oft 


----- — — BUU1JKU ill 

thesenous nature of the troubles 
in Bohemia. The Bohemian na- 
tional movement threatens to 


seated. The scenario deals with 
toe French Revolution, and the 
people are shown starving and 
ill treated under the Monarchy 
and happy and well fed as soon 
as the revolution is in controls 


...whiwii uuPiMCUS to 

end in another great subdivision ln ,~ T - „ 

or the empire of the Hapsburgs, *“47: Italy at Peace 
that is, in a triple instead of a rfiwi _ J 


that is, m a triple instead of a dual park ^ .... , _ ^ 
empire. The executive commit- ”3* Allies state ® f 
tee of one of the great Bohemian Z i ga ^ st . came to a for_ 
parties recently passed a reso- rS* f,*? 1 “Height 1351 ni S^ 1 
lution protesting against the per- pt- 16 I- ^ Allied occupa- 

seciition of foe Bohemians and accordin g t0 ^ 

— . L - face treaty with toe fomwr 

MT1C nnman ... . ■ 


lower ^aid or less attractive 


Letters intended for publi- 
cation should he addressed 
“Letters to the Editor " and 
contain the writer's signature, 
name and full address. Letters 
should be brief and are subject 
to editing. Wc cannot he re- 
sponsible for the return uf un- 
solicited manuscripts. 


work. Companies that had be- 
come spoiled by the Dutch wel- 
fare system could no longer 
so readily dump disabled or 
elderly people from their 
payrolls in the expectation that 
toe state would cover all toe 
costs. 

In time, and not least because 
a new generation of workers was 
entering the labor market, the 


secuuon of the Bohemians, and 
taking the necessity of calling 
the Bohemian Deputies to a con 
vention in Prague. 


1922: Cinema Verite? 


PARTS — Royalists assembled 
at the Max Linder Cinema for 


ihe first production of 1 ‘Omhans 10 Adri atic and of 

of the Storm,” the \mcsi Am7r- miles of her homc- 

ican film of David Waric Grif ““'ipcliidingthecherishedls- 

ft.U man P»ninn.l. .1 


, J UMI IVIIIHl 

Axis power, must evacuate sov- 
ereign Italian soil within the 
next ninety days. Italy’s return 
to independent statehood strips 
her of all her pre-war African 
empire, of the Dodecanese Is- 
lands in the Aegean and most of 
* n th® Adriatic and of 


_. . « iu iv vjnr- rri »s ■ » mwvuraiBHOa 15- 

filh. gave audible signs of dis »■ ^ Pen *nsula, with toe excep- 

mnr«..,l n r.i . u “‘ (iOfl OT fho 7 All ■ i 


M . U1S _ .. - — ..-mu, niui IUC CXCCD- 

approvai of the way in which the n^°f 1 2 ?°-*luare-mile area 
old French regime was rente- .™ wn as the Free 


*“ Territory of TriKTe 3 





i. 


Mr 

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INTERNATIONAL HERALD TRIBUNE, TU ESDAY, SEPTEMBER 16, 1997 

OPINION/LETTERS 


PAGE 11 


Ofs e 




- i; " : r !h r >- 

“•".-.I te 


■s. 




Al Gore on the Line: 
He’s No Criminal 

By Anthony Lewis 

NSa 1™ 5 Bu ' in 




A Picture That Speaks 
A Thousand Decisions 


; $ ; * 


— • — ~ ’*vs rres- 

jdeot Al Gore made dozens of 
telephone calls from the White 
House to raise money from big 
political contributors. Those are 
the calls that have become the 
latest focus of the long-running 
Washington drama, the cam- 
paign funds scandal. 

The charge is that the vice 
president committed a crime 
in making the calls. His critics 
call for foe appointment of an 
independent counsel to consider 
prosecuting him. 

As a matter of politics, 
the story has hurt Mr. Gore, 
damaging his reputation as 
Mr. Clean. He has handled it 
fumblingly, coming across as 
less than candid. 

But law is another thing. Be- 
fore we demand that the criminal 
law be invoked, we ought to look 
closely at what the law is. In the 
outcry, few have done that. 

The law involved is Section 
607 of the Federal Cri minal 
Code, ft is "unlawful,** the sec- 
tion says, “for any person to so- 
licit or receive any contribution 


_ — - - uut in 

tact it is not so simple. 
mSf"*?”, 607 was pan of an 
1583 civil service reform law 
sponsored by Senator George 
Pendleton of Ohio: The 
Pendleton Civil Service Act. It 
introduced competitive examin- 
ations for civil service jobs. Sec- 
tion 607 was designed to stop the 
practice of political officehold- 
ers’ shaking down civil servants 
for contributions. (The practice 
has continued in some local gov- 
ernments: Buy a ticket to the 
mayor's birthday party, or you 
will be out of a job.) 

If the courts interpret Section 
607 in terms of its original intent, 
then, only soliciting of one 
federal employee by another 
would be outlawed. The law 
was written before the age of 
the telephone, and it was not 
envisioned originally as covering 
calls from a federal building 


saTEowodiy, 
TH£VICEPRE5ff)EKr 
S NOT m FEDERAL 
PROPgm WEN HE 
MAKES 


By Geneva Overholser 


to private citizens. 

Whether the courts would 
follow the doctrine of original 
intent in applying Section 607 
is uncertain. But in its more than 
100 years of existence, the sec- 


VV,: "i'iGo(V 


““ ‘vwhv auy vvumouuon iuu years or existence, the sec- 
... in any [federal government] tion has never been applied to 
room or building occupied in the solicitation by telephone or mail 
discharge of official duties.” of someone who was not in 
Since the vice president was in a federal building. So the Con- 
federal office space in the White gressional Research Service 
House, and he did solicit con- of the Library of Congress 
tributions, the charge is, he vi- found in a report last month. 


A different legal question has 
been much delated The word 
"contribution” in the 1883 act 
covers only contributions to polit- 
ical campaigns, not so-called 
“soft money” contributions to 
the parties. Mr. Gore solicited 
money for the Democratic Na- 
tional Committee, but it in turn 
gave pan to campaigns. The ques- 
tion is whether Mr. Gore knew 
that and hence had the requisite 
“intent” to violate the law. 

But before a prosecutor or 
a judge weighed the vice 
president's intent, he or she 
would first have to conclude 
that the law covered telephone 
calls to private citizens at all. 
And that is far from clear. 

These are not just technical le- 


gal questions. I think their very 
nature, their debatable niceties, 
show that it is wrong to try to use 
the cri minal law in this situation. 

What Al Gore did was un- 
seemly. but it was not corrupt. 
It did not remotely approach the 
stink of the huge contributions 
made by the tobacco companies 
to Republicans last year, for 
example, or of congressional 
committees inviting corporate 
lobbyists into the room where 
bills undoing environmental 
laws were being written. 

Nor was Mr. Gore the first 
politician to make telephone 
calls from the White House to 
spur fund-raising. President 
Ronald Reagan made calls to 
fund-raising events between 


1981 and 1988 and told big 
givers they would be visiting the 
White House * "quite often. '* This 
according to Reagan Library 
documents reported by The 
Associated Press on Sept. 3. 

Campaign finance is a pro- 
found problem for the survival of 
American democracy. That is not 
because Mr. Gore may or may 
not have violated an 1883 law 
designed for other purposes. It is 
because our campaign finance 
system puts such pressure on him 
and all federal politicians to raise 
huge amounts of money. 

The system is corrupting our 
politics, and everyone knows it. 
The question that matters is 
whether Congress will change it. 

Hie Sen- York Times 


LETTERS TO THE EDITOR 


Sf 


» 

5 'i 1 

* : . it 


On Mother Teresa ^ 

- h. preti 

n- Regarding “ Bui Less Concern wori 

* for Bodies Than for Souls?" fron 

ft Opinion , Sept. 9) by Sunanda com 

r -K. Dana- Ray: miss 

• u- Mr. Datta-Ray may have found wori 

Q Mother Teresa’s interest in souls the s 

i superfluous, but it was her un- Ti 

filing belief in the dignity of the core 
human spirit — not just in the Misj 
tights of foe body — that changed Tere 
/ .s* the lives of thousands. won 

A V * The ability to see in every aspe 

•h uman a soul worthy of dignity base 
tod respect was Mother Teresa’s meti 
|ifL More mystic than utilitarian, TI 

•‘she did not do what seemed best man 
for foe people, but did what com- abor 
-peUed her spiritually. be ei 

m ’ . .• . : . 

ic ;• •• \ 

BITTER GROUNDS 

■fiv Sandra Benitez. 464 pages. $2295. 
'Hyperion. 

Reviewed by Pamela Constable 

F ROM the moment a sneering coffee 
baron shoots down a faithful farm- 
hand — just 21 pages into this ambitious, 
fast-flowing novel tracing foe four de- 
cades that led up to El Salvador's civil 
war in the 1980s — yon know foe die is 
cast The peasants are long-suffering, the 
o ligar chy is spoiled, the soldiers are cruel, 
'and violent confrontation is inevitable. 

;! To be fair, perhaps there is little room 
. Aj !for moral ambiguity in the story of an 
y ^ oppressive feudal society ripped apart by 

'revolution. But Sandra Benitez, whose 
.more modest first novel, “A Place Where 
foe Sea Remembers” (1993), won several 
^awards, is a talented fiction writer. Her 
f .Challenge is to make os think, not merely 

iove or hate. Unfortunately, instead of 
“developing complex characters who draw 
- 'us into their dilemmas and make ns won- 

der how we would have reacted in similar 
circumstances, she tends to set them up — 
’and then awkwardly discard them — as 
one-dimensional symbols in a social 
-• .‘struggle that begs for more subtle nov- 
.elistic treatmeoL 

The structure of "Biller Grounds is 
fouilt on three generations of Salvadoran 
women linked to a plantation called La 
- -Abtmdancia: foe owners’ wives and 
% ^daughters, foe female servants, their 

* foiends and lovers and rivals. This frame- 

work is a potentially ideal window into a 
traditional, rigidly stratified rural society 
on foe brink of upheaval. But where 
JBenitez might have produced a Central 
.American version of “Wild Swans, 

: she often comes closer to "Dallas. 

After a short and powerful first section 
in which a peasant village is destroyed in 
the infamous matanza — foe ma» 
"Slaughter of rebellions Salvadoran cot- 
/ fee-pickers in 1932 — the book movesto 
• “the plantation manor, where foe plot be- 
rfcomes melodramatic and incestuous. For 
: neariy 200 pages spanning 30 years, we 
Sraffo p from one doomed romance to foe 
Sxt, from one family feud to anofoor. 
.The author often weaves social com- 
mentary and political foreshadowing into 
- these entertaining developments, du 
% sometimes foe result is ciumsyor mis- 
T placed. The topic of land reform — a 
tceatral factor in the Salv^ioran confhcr 
is dismissed in one brief conversation 
■in which two landowners gufiaw owerthe 
-notion of having a “social conscience. 

■fa contrast, the book lingers ad nauseam 
iover foe details of the opulem ohganfojc 
fifestvfe. Yet we almost never learn w hai 

!Stokofallto.mrclygleana 

ihint of foeir rage or des PJJ;. _ ilitarv j s 

-r The novel’s treatment of foe militaty»s 

% scrsrsssgS 

-proud paai°L^g^ sl wb0 tor- 

SBESSSSSrtSS 

. jou"withasweo&tt “** ‘ lu S eola “ L 


What Mr. Datta-Ray inter- 
preted as her contempt for social 
workers may well have derived 
from the intensity of this spiritual 
commitment. She feared her 
missionaries might become social 
workers doing “foe work for 
the sake of foe work.” 

The spiritual dimension is foe 
core element organizing her 
Missionaries of Charity. Mother 
Teresa hoped her missionaries 
would remain true to foe spiritual 
aspect of charity. Her weak was 
based on spiritual conviction, not 
meticulous reason. 

Those of us in the secular com- 
munity who take for granted that 
abortion and contraception should 
be encouraged in our dangerously 


overpopulated world use clear 
arguments to defend our opinions. 
While rationally based criticism 
is appropriate in the political 
arena, respect for Mother Teresa 
on spiritual terms is necessary 
to appreciate the value and extent 
of her work. 

To begin to understand her 
lessons, we must respect foe 
strength of Mother Teresa’s 
faith and foe conviction with 
which she lived it. 

CATHERINE CORMAN. 

Santa Monica, California. 

Photojournalists Speak 

Photojoumalists around the 
world are being slandered and 


assaulted after the death of Diana, 
Princess of Wales. As profession- 
als, we find this abuse unjusti- 
fiable and appalling. 

Photojournalists are often 
people who feel a powerful social 
responsibility to document the 
atrocities of humanity in order 
to provide evidence to foe world- 
in urn, they often believe that 
these documents will make our 
world a better place. 

There are thousands of pho- 
tographs that stimulate people's 
consciousness, move to tears or 
anger or even make people smile, 
proving that photojoumalists' ef- 
forts have not been in vain and that 
theirs is indeed an honorable pro- 
fession- We hope that readers will 


recall photographs that have given 
them a greater understanding of 
the world. Behind the majority of 
these images stand intelligent and 
honorable men and women. 

Today the media are in the pro- 
cess of publicly denouncing this 
important profession. The accident 
that led to Diana's death on Aug. 
31 is a tragedy. But we strongly 
condemn the current all-out assault 
on photojournalism, which is hav- 
ing highly negative consequences 
on a serious profession. 

ANTHONY SUAU. 

Paris. 

The writer, a photojoumalist. 
signed this letter on behalf of 156 
others in his profession. 


BOOKS 


■■Si' 1 ', l-'.i.' J .'- J / Jl. rll'li Mi«l r' 


eyes shiny with fear.” Benitez shows far 
more noanced insight when she explores 
the more subtle aspects of class dif- 
ferences. One love-struck girl is awed by 
a postal clerk’s shiny suit and ability to 
read; another is banished from, high so- 
ciety by manying the son of middle-class 
Arab immigrants. The most poignant 
conflict in the book is an icy fend be- 
tween two farmer best friends, Elena and 
Cecilia, in which sexual betrayal is com- 
pounded by the ethnic ostracism of foe 
resident Arabs. 

Benitez, a Puerto Rican writer who 
spent part of her youth in El Salvador, 
demonstrates a convincing feel for the 
Salvadoran culture, topography and 
idiom. And she is unusually deft at using 
an expression in Spanish, then slipping an 
English translation into the dialogue al- 
most without tiie reader noticing. 


But when it comes to serious political 
issues, “Bitter Grounds” veers re- 
peatedly into polemics, as if foe author 
were too angry and urgent in her mission 
to step back and sort through the gray- 
ness of human weakness and contra- 
diction — the very elements that elevate 
fiction into truth. 

Just when foe novel reaches its fatal 
showdown, Benitez pulls her punches. 
Victor's true identity, which readers 
have waited 400 pages for foe other 
characters to leam, is revealed in a 
clumsy anticlimax on foe last page, 
while foe grieving Jacinta flees to 
Miami, where her long-lost lover mi- 
raculously reappears. 

Pamela Constable writes about im- 
migrants and Latino issues for The 
Washington Post. 


\\l ASHINGTON — Wash- 

V fo&ton Post readers were 
quick to criticize a photo foe 
newspaper used of the Princess of 
Wales’s two young sons, taken 
through a car window shortly after 
they learned of her death. Readers 
said the photo was just the sort of 
intrusive journalism associated 
with paparazzi; the criticism was 
intensified because the same Style 
section cover had a story foal 
looked at tabloid intrusiveness. 
Readers asked: Exactly what sets 
the so-called legitimate media 
apart from tabloids? 

Such concerns have sparked 
various responses from foe media. 

MEANWHILE 

Some newspapers in Britain 
pledged restraint in covering 
princes William and Harry. Else- 
where. editors were examining 
their own policies — and seeking 
to assure readers that they do 
struggle with these issues. 

David Von Drehle, The Post’s 
assistanr managing editor for Style, 
wrote this memo specifically in 
response to a column I wrote about 
foe photograph: 

“I have spent a great deal of 
time reflecting on the decision to 
run that picture. 

“And it was a considered de- 
cision. If I differ with anything 
you wrote, it would be with foe 
suggestion that editors — in this 
case, me — are pulled inexorably 
into publishing intrusive pictures. 
In fact, it is very easy for us not to 
run a picture. We just tell our 
layout people not to use 1 l 

"When. Tuesday evening, I 
saw that our page designer was 
working with a photo of foe young 
princes beside their father in foe 
backseat of foe limousine, I real- 
ized immediately that it would 
strike a distressing chord with a 
significant number of readers. It 
was such a precise evocation of 
the photograph foe paparazzi were 
eying to get in Paris when Prin- 
cess Diana was killed. 

“So I asked our designer to go 
back and gather as many altern- 
ative pictures as he could find. 
From an editor's standpoint they 
were all significantly inferior. The 
pictures of the boys in joyful mo- 
ments with their mother did not 
illustrate foe forlorn sense of loss 
at die heart of the story. Pictures 
of the boys in happy times with 


Sponsored by: 


their father also missed the point 
(Ultimately we wound up using 
one of each type in subordinate 
positions so that the grieving 
picture would not be foe only 
image our readers would see.) 

"I also did some research into 
the circumstances of the limousine 
photo. I determined that the picture 
of the boys in the car was taken at 
a public royal outing — to church, 
in fois case. The photographers 
present were in no way harassing 
or rude. The princes were not 
pushed, crowded or hounded. 

"Moreover, foe photograph it- 
self was entirely respectful of a 
family in grief. There was nothing 
remotely embarrassing about the 
picture. It was entirely dignified. 

"Most important, the emotion 
that foe photograph engenders in 
foe viewer is one of sympathy for 
foe subjects. 

“As I have racked my brain 
second-guessing my decision, I 
have come down to these issues as 
crucial in deciding whar is an ac- 
ceptable photo. We should resist 
publishing photographs obtained 
through harassment We should not 
print pictures foe primary purpose 
of which is to embarrass the subject 
or titillate the reader. And in a 
circumstance such as this, when 
people are suffering, our photo- 
graphs should help readers to sym- 
pathize — or at least to empathize 
— with the victims of tragedy. 

“The test offered last week by a 
reader, is also a good one: Do unto 
others as you would have them do 
unto you. I believe I can say in 
complete good faith that if, God 
forbid, a loved one of mine were 
to die in newsmaking circum- 
stances, and I were photographed 
in a respectful manner during a 
public moment, and foe pictures 
were presented in a dignified 
manner, I would not object.” 

Mr. Von Drehle ended by say- 
ing that he wanted to assure me, 
and readers, "that we did not 
make our choice of that picture 
cavalierly or by accident.” 

One additional note: Ted Lao, 
The Post’s vice president for cir- 
culation, said that 20,000 to 
25,000 additional copies of The 
Post were sold Aug. 31, foe day 
the paper announced Diana's 
death, and ScpL 7, the day it 
covered her funeral. 

The writer is The Washington 
Post's ombudsman. 


Standard Bank 
of South Africa 


T REASURY 


CONFERENCES 


28 & 29 October 97 WfiSsmSl 


CHESS 


By Robert Byrne 


rpHE United States Cadet Champi- 
J. onship, was won by Justin Sarkar of 
Scarsdale, New York. In foe fifth round, 
Sarkar, 15. shone in a spirited battle 
against Jordy Mont-Reynaud, 13, of Pa- 
lo Alto. California. Sarkar also made it 
clf pr that he was very well versed in foe 
latest complexities of foe Slav Defense. 

fa the Semi-Slav Variation with 4...dc, 
foe rare 5 Bg5 is an aggressive mo- 
bilization that is getting some att e nti o n 
currently. One point is that it bypasses the 
u ncert ain Noteboom Variation, 5 a4 Bb4 
6e3b5 7Bd2a5 8abBc3 9Bc3cbl0b3 

Bb7 II be b4 12 Bb2 Nf6 13 Bd3 Nbd7 
14 0-0 Qc7 15 Rel 0-0 16 e4 e5. 

Semko Semkov of Bulgaria intro- 
duced the two-edged 5...f6!? in 1987 to 
save a tempo; it weakens foe n5-e8 di- 
agonal, but prevents incursions at e5 and 

It might have been better to substitute 
9 Rc 1 for 9 e3, with foe idea that 9.~Qd5 
10Ng3Nd7 lle4 sees White getting his 
pawn back with foe superior position. 
^Sarkar’s l!...e5!? enabled him to es- 
cape being run over in the center. After 
12 oe fe 13 be. he could not take a pawn 


SARKAfVBLACK 



c d e ' ■ 

MONT-fl EYNAUD-WHlTE 

position Aft£ r *2 


with 13-J3C4? in view of 14 e4 Qe6 (or 
14...Qc5 15 Be3) 15 Ng5, winning the 
errant queen bishop. But after 15 Bd3?, 
he saw foe chance for 15— Bc4! 

Mont-Reynaud had evidently on 15 
Ng5 Qd5 16 Qh5 g6 17 Bg6 hg 1 8 Qh8 to 
win material, but Sarkar had foreseen 
that foe most important factor in this 
situation was the frail location of foe 
white king in the center. He bored in 
powerfully with 18...Nc5! 19 Nf3 Nd3 
20 Rfl ©4 21 Nd4 c5. 

Neither 22 Nb5 Nf2! 23 Kgl 0-0-0 
24 Bel Nhl 25 Khl a6, nor 22 NbS Nf2! 
23 Kel 0-0-0 24 Bel Qdl! 25 Kf2 
Rd2! 26 Bd2 Qd2 27 Ne2 Qe2 28 Kg3 ; 
Qe3 29 Kg4 Be6 30 KM Be7 offered any 
hope. 

But after 22 Nde2. Sarkar struck with 
22 — Qf7> thr eatening both 23...Qf2 mate 
and 23..J3g7, forking queen and rook. , 
Mont-Reynaud could hold this off for a ; 
moment with 23 Ne4, but after 23...Qe7! ' 
(avoiding the blunder, 23...Bg7? 24 Nd6), ! 
be could not help blit drop a piece. 1 

And on came foe black attack with ! 
25—Bh6! 26 Kgl Nf2! Since 27 Kf2 
would not withstand 27...Qe3 28 Kfl 
Qe2 29 Kgl Be3 mate, Mont-Reynaud 
tried 27 Rfl. when Saikar’s 27...Be3 28 
Rf2 Bf2 29 Kf2 Qe2 made short work of 
foe struggle. After 32...g5, Mont-Reyna- 
oud gave up in foe face of 33 Kh3 Qf3 
mate or 33 Kh5 Bf7 mate. 


White 
M’-R'n’d 
1 d4 
2c4 
3 Nc3 
4Nt3 

5 Bg5 

6 Bd2 

7 34 

8 Ne4 

9 e3 

10 Ng3 

11 b3 

12 de 

13 be 

. 14 Bd3 
l5Ng5 
lb Qh5 


SLAV DEFENSE 
Black White 

Black 

Sarkar 

MMl'n’d 

Sarker 

d5 

17 Bg6 

hg 

c6 

18 Qh8 

Nc5 

eS 

19 N13 

Nd3 

dc 

20 Kfi 

e* 

ffi 

21 Nd4 

C5 

bS 

22 Nde2 

Qf7 

w 

23 Ne4 

Qe7 

Bafi 

24 N4c3 

be 

Qd5 

25 Bc3 

Bh6 

Nd7 

26 Kgl 

NI2 

eS 

27 Rfl 

Be3 

fe 

28 RJ2 

B£2 

Qe6 

BC4 

29 Kf2 

Qe2 

30 Kg3 

Qe3 

Qd5 

31 Kh4 

Qf4 

g6 

32 g4 

g5 

33 Resigns 


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INTERNATIONAL HERALD TRIBUNE 
TUESDAY, SEPTEMBER 16, 1997 
P\GE 12 


Look Homeward: A New Twist in Hong Kong Shopping 



Siqtai 3bmetMjan ftwar-P 


Clockwise from [op left: Balbina Wong of Lane Cranford with Chinese dinner service in French porcelain: new 


-generation makeup at Joyce: Chinese looks from Shangltai Tan$.ltHdMissHongKpng, CharmaineShe^Jpte. 

money wfli stiils pe ntU. l ot o r 
appearances and they are still 



“ In” People are there 




Vi 

mi 


By Suzy'Menkes 

International Herald Tribune 


H 


ONG 


KONG — She is a 
Chinese woman with 


ashy jewels, an insatiable ap- 
ite fc 


modamilano 





October 3-7, 1997 


1998 Spring/Summer Collections 
Fiera Milano - Entrance Piazza VI Febbraio 


Phone 

++ 39 / 2 / 66 . 103.555 




- Fax 


- ++39/2/66.101.638 


Organized by EFIM A - EXPO CTS 


petite for designer clothes and 
a wad of cash from her Shanghai sugar 
daddy. This is Hong Kong’s mythical 
new big spender. 

Mistress power was given credibility 
by the indictment last week of a Beijing 


party chief accused of graft after al- 


iegedly spending millions while enga- 
ging in an extramarital affair. 

But when stores all spin the same yarn 
to explain how they are surviving tough 
limes, it is wise to be skeptical. 

For the truth is that after two decades 
as a shopping paradise, Hong^ Kong 



shops are hurting. Mainland Chinese 
high rollers cannot plug the gap left by 
vanishing Japanese shoppers. Scared off 
by the weak yen, political anxiety and 
glitzy Hong Kong prices, Japanese tour- 
ism dropped 61.7 percent in July from 
July 1996. 

More trouble is brewing, with the 
currency turmoil in Southeast Asia 
likely to have an impact on other tourist 
spending. And there are early signs that 
Hong Kong's shopping society is influx. 
Sure, there are yet more malls under 
construction and on the drawing board. 
Bui dismal figures from upmarket stores 
show that high fashion has flopped for 
the first time since Hong Kong took up 
designer labels 25 yeans ago. 

Other straws in the trade winds: The 
medium-price market is expanding, 
dress-down, casual sportswear has taken 
over, a subversive fashion element is 
creeping into junior clothes, and there is 
a new focus on home decorating and 
entertaining. In other words, Hong 
Kong's go-go consumerism seems to be 
moving die way of the West. 

The most upbeai example of changing 
times is Shanghai Tang, which chal- 
lenges Western fashion imperialism 
with China Pride. When the entrepre- 
neur David Tang opens a Madison Av- 
enue emporium in November. New 
Yorkers will see the eye-popping lime 
green, pink and orange that create a 
hallucinatory revision of Chairman 
Mao's drab uniforms. The Hong Kong 
Central store offers velvet cheongsams 
and brightly lined Chinese jackets, as 
well as silk photo albums, Day-Glo tow- 
els and irreverent gifts, among tradi- 
tional bales of silk for made-to-order 
tailoring. The Tang concept is about 
cheap and cheerful marketing, not a 
fashion revolution, but one million cus- 


Assessing Armani menswear at a client show. 


ESCADS 

in Paris 


NEW COLLECTION! 
FALL- WINTER 

1997 


Marie-Maitine 


8, rue de Sevres, 

Paris 6Ul 

Tel: 01 42 22 18 44 


tomers last year crossed the psychedelic 
mosaic-patterned floors. 

“The whole idea is to revitalize 
Chinese design — there is a resurgence 
of national pride — and we are die first 
Chinese Lifestyle brand to go back to the 
roots of 4,000 years of history and cul- 
ture,” says Jeremy Tromp, Tang's CEO, 
who cites the chinoiserie effects in Pra- 
da's last collection to prove that China is 
a hot fashion story. 

Ah, Prada! Along with fellow Italian 
brand Gucci, it seemed to be the only 
designer label still packing them in at the 
bustling Pacific Place mall . over the 
weekend. Joyce Boutique, the high-fash- 
ion group that has rolled out Prada 
through Asia, has also had a difficult 
year. Its designer shops in the Pacific area 
posted a loss of 12.4 million Hong Kong 
dollars ($1.6 million), compared with 
profit of 65 million dollars the previous 
year — attributed to the Japanese tourist 
drought, delays in planned store openings 
and a disastrous entry to the Bangkok 
market as the economy crashed. 

“It is a critical moment — it will 
sharpen our vision,” said Roberto 
Dominici, Joyce’s managing director, 
laying out future expansion plans for 18 
new boutiques. 

Dominici says that he is wary of ex- 
pansion in Southeast Asia but that his 
strategy is for constant fashion renewal, 
by changing the designer names and the 
mix in stores. (Read: dumping lines like 
Donna Karan that aren't selling). He 
describes it as “giving space to the win- 
ning brands.” which are currently Prada 
and its junior Miu Miu line, Jil Sander 
and Armani, where a menswear private 
showing last week was packed with yup- 
pie thirty ‘something lawyers and bankers 
snapping up business suits. 


Ii 


Y 


ET the Joyce store opening of 
the season was Monday’s 


may now depend on the retailers' si 
serving consumers in different stages of 
maturity. While young mainlan d 
Chinese women were jamming the gold! 
and-diamond .jewelry boutiques on Sun-! 
day, hip Hong Kongers were surging into 
the Green Peace flagship store on Cause s 
way Bay. There the metal girders, rough 
wooden staircase and “destroyed'* de- 
cor houses designers like W&LT, Al- 
exander McQueen and Katharine Ham* 
nett, whose fashion message is ironic and 
subversive rather than show-off. a 

No one could suggest that bora-to-shog 
tai-iais (wealthy Chinese wives) are in 
retreat or that sportswear logos from Nik^ 
through Tommy Hilfiga - are lading out. 
But, like the young Japanese consume^ 
Hong Kong’s new generation may rebel; 
challenging the status quo of the status 
symbol. \ 

Near Shanghai Tang on Pedder Street! 
Kin Yeung has an even more revolu** 
tionaiy fashion vision. In his Blanc de 


party for Dries Van Noten, the 
Beleii 


Chute company, he is reworking Chinese 
clothes in soft silk and subtle colors to 


lelgian designer of tactile, 
low-key clothes. Other avant-garde de- 
signers are grouped at the new 47.000- 
square-foot (4.400-square-meier) Joyce 
oit Nathan Road. Kowloon, where the 
store itself (Zen-like decor stroked with 
Chinese lacquer red) and the new-gen- 
erarion beauty products express the 
changing consumer spirit. 

“Hong Kon. 


create a modernist and minimal ist colj 
lection as pure and subtle as a Chinese 
painting. “Beyond making money, I 
hope to show die value of the traditional 
Chinese culture, to reflect not only the 
outward aesthetic but the spiritual as? 
pecL ’ says Yeung. “In die 1990s, people 
are looking beyond materialism, and 
what is good should be good for ever.” 
In status-conscious. 


“Hong Kong is a Changing society “ Mono m ? ne y-fuelecj 

admits Joyce Ma, the company's founder, might eeTonl^f” a . des ‘ gn ? r outfi t 

" N r v .-“"■■a ™ 2f^5V5& sssra 

voice than that. 


up. 1 am sure thai the people who have 


fashion 







very brand conscious. But l 
don’t know if they will spent) 
' it in Hong Kong or abroad.” 4 
Home is where the growth 
is, . according to Balbina 
Wong, executive director of 
Labe Crawford — a dowagej 
department store that is un-* 
dergoing a face-lift and sting* 
giing to project into the 21s( 
century. Whether pollution o? 
social ennui is behind tbe co^ 
coon mg, upscale folk are up^ 
grading their decor. 

“Twenty years ago no < 
entertained "at home,” saj 
Wong, whose four Hoof* 
Kong stores record locals buy? 
mg wine glasses, as they 
swirch from hard liquor! 
Mainland Chinese tycoons are big spend* 
ers on crystal, bed linen and French por- 
celain, where Wong badgered luxury 
houses to include Chinese bowls and 
cups in dinner services. 


T may be significant that the suc- 
culent City’Super food hall seems 
to be pulling the crowds at Times 
Square, a new high-rise, vertical 
shopping mall constructed by Lane 
Crawford’s umbrella property company. 
The light, modem store is pan of the 
makeover designed to appeal to young 
Chinese customers. 

“Hong Kong will be my showcase^ 
but China is my vision,” says Wong; 
who already finds that the jewelry de; 
partments are a magnet for mainl and 
Chinese shoppers. 


The future of Hong Kong shoeing 


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TUESDAY, SEPTEMBER 16, 1997 


PAGE 13 


U.S. Has Much to Lose 
In Free-Trade Battle 


By Reginald Dale 

International Herald Tribune 


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W ASHINGTON — Trade 
has long been the 
lifeblood of empire. 
Fjounshing commerce 
helped underpin the Pax Ro mans and 
the supremacy of Victorian Bri tain. 
American dominance in the late 20th 
century rests as much on leadership of 
the open world trading system as on 
military power. 

That feadershiD over the nact so 


Successive studies have shown that 
the United States depends increas- 
ingly on trade for job creation and that 
export-related jobs pay better than 
others. Foreign competition has im- 
proved American efficiency and 
helped keep inflation down. The 
economy is at virtually full employ- 
ment 

Of course, some people — mainly 
the unskilled — and some industries 


me open worm trading system as on may be hurt by trade liberalization. 

«P°y er V.- . There is a perfectly legitimate debate 

mat leadership over the past 50 under way in the U.S. Congress and 
years has brought unprecedented elsewhere over whether trade policy 

prosperity to Americans and should be used to encour- 

°f hei ? arou ? d THINKINO age developing countries to 
rvfifof' Ir h ®JP ed * e aheap improve their labor and en- 

frjir . <£L an< L makc ?? e COMMENTARY vironmental standards in 
United Steles the world’s COMMENTARY the interests of fairer trade, 
largest and arguably the most com- These issues should certainly not 
pehbve trading nation. be evaded. But the ooDonents of fast 


So it seems astonishing that Amer- 
icans would choose this moment to 
question the benefits of trade — and, 
of course, many of than don’t Most 
economists and many thoughtful 
politicians of both main parties, in- 
cluding President Bill Clinton, fully 
understand its advantages. 

And yet Mr. Clinton is facing one 
of the most serious battles of his pres- 
idency over free trade, and one that 
for die first time, he might lose. It is 
important both for America and for 
the rest of the world, that be put more 
effort into w inning . 

The fight is over a seemingly tech- 
nical procedural issue that has caused 
little trouble in the pas L a request to 
Congress by Mr. Clinton for “fast- 
track” authority to negotiate new in- 
ternational trade agreements. 

Without such authority, which en- 
sures rapid congressional approval or 
rejection of trade pacts without 
amendment, other countries would be 
unwilling to negotiate seriously with 
Washington. The U.S. drive to open 
world markets for its expraters would 
falter. 

-But an incongruous coalition of 
left-wing Democrats, right-wing Re- 
publicans, isolationists, labor unions 
and other special interests is gearing 
up to oppose fast track, mainly for 
fear that further trade liberalization 
will undercut American jobs and 
wages. 

Such fears are largely groundless. 


the interests of fairer trade. 

These issues should certainly not 
be evaded But the opponents of fast 
track should not be allowed to get 
away with exaggerating them to the 
point at which they blind Washington 
to America’s broader economic and 
global interests. 

As the Democratic Leadership 
Council, a moderate Democratic 
policy group, cogently argued in a 
recent paper: “It is simply unfair to 
elevate the interests of industries or 
groups threatened by international 
competition above the interests of 
workers in exporting industries; of 
consumers: of communities that ben- 
efit from foreign investment: and of 
every American who benefits from 
steady growth, low unemployment 
and low inflation.” 

In theory, Mr. Clinton agrees with 
that. But in practice he has treated fast 
track more like an issue of internal 
Democratic Party politics. 

Instead of putting free trade first, 
his priority seems to have been to 
placate the anti-fast-track faction so 
as to protect the f lank of Vice Pres- 
ident A 1 Gore from a challenge by the 
protec tionisr Dick Gephardt, the 
House minority leader, in the next 
presidential elections. 

By doing so, Mr. Clinton risks los- 
ing the political majority for free trade 
that all postwar presidents have been 
able to call on when it really mattered. 
If that happens, Mr. Clinton will have 
carelessly hastened the day when the 
Pax Americana goes the way of its 
illustrious Roman predecessor. 



Unemployed steel workers in Sheffield, England deciding to start a striptease act in a surprising new hit movie. 

How a Studio Made ‘the Monty’ Full 


By Bernard Weinraub 

Hfw Kurt 77mg j Service 

LOS ANGELES — More than a year 
ago, executives at Fox Searchlight Pic- 
tures, a division of Twentieth Century- 
Fox Film Corp., began watching the 
dailies — scenes that had just been 
filmed — of “The Full Monty.” 

The low-budget British comedy- 
drama, costing about $3 million, is 
about a group of unemployed steel 
workers in Sheffield who decide to start 
a striptease act not only to earn money 
but also to give them some self-esteem. 
The men are down on their luck, and 
their physiques are far, far from ideal. 

“As soon as we saw the dailies, we 
knew we had something special,” said 
David Dinerstein, senior vice president 
of marketing at Fox Searchlight 

Peter Cattaneo, the film’s director, 
added: “It’s about self-esteem and self- 
image and men's chan gin g role in so- 
ciety. It’s a comedy with a serious tone 
because it’s about real people and real 
issues." 

How the company marketed and re- 
leased a British film with no movie 
stars, no explosions or car chases or 
special effects is, in some ways, a lesson 
in the way behind-the-scenes decisions 


Sara Lee Begins a $3 Billion Buyback 


GxnpdnHnOi-rSutfFrrnDigxecka 

CHICAGO — Sara Lee Corp. on 
Monday unveiled an extensive three- 
year plan to sell businesses and cut costs 
to raise S3 billion for the largest stock 
buyback in its history. 

The restructuring means Sara Lee ef- 
fectively will get itself out of the busi- 
ness of manufacturing many of the 
goods it sells. It instead will focus on 
building its brand names, analysts said. 

The Chicago-based maker of Ball 
Park franks, Hanes underwear and 
Coach leather goods said it expected to 
take a $1.6 billion charge in the year 
ending in June 1998. 

The charge is related to the sale and 
write-down of assets that do not fulfill 


its plan of building global brands. 

The stock buyback is scheduled to 
take place over three years in the open 
market The company plans to buy rack 
about 15 percent of its capital, or 70 3 
million shares, based on Friday’s total 
of 480.3 million shares outstanding. 

As part of the restructuring, the com- 
pany said it had entered talks to sell its 
knit-related yarn and textile operations. 
Thai sale would generate $500 million 
in cash over the next three years, the 
company said. 

Sara Lee also plans to sell other as- 
sets, including food and nonfood busi- 
nesses in subsequent deals over the 
course of die three-year period. 

Sara Lee’s restructuring follows sim- 


ilar moves by rivals Campbell Soup Co. 
and HJ. Heinz Co., which lifted the 
price of their shares. 

“They are responding to pressure to 
streamline their operations,’ said Tim 
Ramey, an analyst with Deutsche Mor- 
gan Grenfell. 

“Sara Lee has had superior earnings 
predictability yet has been valued well 
below the rest’of our coverage group,” 
said John Renwick, an analyst with 
Morgan Stanley Dean Witter. 

“This restructuring could be aggres- 
sive enough to renew investor in- 
terest.” 

Sara Lee’s shares surged $6.1875 to 
close at $48.75. 

(AP, Bloomberg, Reuters) 


Action on EMU Lifts Europe’s Markets 


By Tom Buerkle 

International Herald 'Tribune 

LONDON — The Deutsche mark rose 
Monday after European finance min isters 
advanced an element of monetary union 
and the Bundesbank president fanned 
expectations of a rise in German interest 
rales. 

Most European stock markets also 
gained, reacting favorably to the week- 
end decision by European Union min- 
isters to announce the method of fixing 
Exchange rates among countries launch- 
ing the single currency — after those 
countries have been selected —-in May 
)998 instead of waiting until 1999. 


“The markets are rushing to antic- 
ipate the endgame” of monetary union, 
said Ricardo Barbieri, economist at Mor- 
gan Stanley International in London. 

Besides increasing confidence in the 
schedule for monetary union, analysts 
said, moving up the fixing of exchange 
rah ,,* was also likely to hasten the con- 
vergence of interest rates across 
Europe. 

That could translate into a rise in rales 
in Germany and other faster-growing 
economies to nip inflationary pressures 
in the bud and corresponding cuts in such 
hjgb-rate countries as Italy and Spain. 

Finland’s central bank moved im- 
mediately, raising its key short-term 


rate by one-quarter point, to 3.25 per- 
cent, Monday. 

Hans Tietmeyer, the Bundesbank 
president, fueled speculation about a 
German rate increase by saying that the 
central bank's room for maneuver “gets 
narrower” after next May. 

“If anything, it probably brings a 
Bundesbank tightening forward,” 
Brendan Brown, an economist at Mit- 
subishi Finance Internationa], said of the 
ELI decision. "The Bundesbank has 
eight months to rcm a monetary policy on 
the basis of what’s good for Germany 
rather than on the basis of what’s good for 

See EMU, Page 14 


CURRENCY & INTEREST RATES 


Cross Rates 


S ( DA.fiF.tt* 

AMstenfan uus IMS UJfi US MW 

BrasMl SUB AS 20405 4 US 2.1177 

Frankfurt UUS 2J» — 

London (a) lion — 2« WBB X»» 

Madrid 140423 230115 Ml SB W 

(Ulm L72BJB VOX ff&DB 80S — 

NwYortOO _ lAOa ISBS S91« 

Port! 550B MS 3S15 — 

Tokyo 

Taranto ISU 22B2 07BH 02W BAP* 

M* u» 0233 U4* UMT 

“ un MB UK 

i sdr MW QS* W aani xsua 


DJI OF. 

— oes* 

10333 — 

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1180 5057 
7450 *MM 
81650 4732 
15825 343 

25MB 0-1428 

0281 0-3*25 ' 
US MW' 
2-71 IB 4507 
11851 SUSS 


if. Y* a hwfc 

1 1.3677 USDS* 147 13335* 
24577S 0382 2438 245875* 

■ 12182 1003* 1267 1.10U* 
13301 193JX7S 23U 236825 

WU6I 12348* MUO — 
1,18135 14317 133735 11557 
\JUB 120175 13221 U035 

40214 4501* 42471 USDS’ 

8505 1.W — «»: 

15061* 15*11 05747 

1403 134358 MW 1«5M 
15904 H117 14933 282287 


Sept is Ubld-Libor Rates Sept is 

Swiss French 

Dollar D-Mark Franc Shrflng F*** 

1 -month 5*U-»k 3-3Wi 1-1» 7Vn-7V* M-M AOa-At 

3^nantti $¥* • 5M 3Vm - 3Vu Ita-IH 7 • T* 3ta-3*t 4Mi-4¥to 

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Rntss^p&ahte rfeposfls of SI mitten minimum lor equivalent). 




.Other Dollar Values 


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XastrataiS 

AwMaaich. 

prudlreri 

fWmtnwm 

OKktanna 

ttaoUfckracN 

EmMoaod 

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Conner 
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Hoag KoagS 
Km* fcrfnt 

tataanUM* 

todo. ruptah 1 

Irish E 

broaflifcefc 
Km* dkwr 
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Currency 
M«. poo 
AZmdondS 
Mom.kra<tt 
PNLpOf® 

Poflshxkrty 

Port escudo 
Mb raHt 
smfirii* 
Stag.5 


Currency 
S. Aft-, rand 
S.Kor.won 
Swed. krona 
Taiwan S 

Thajbahi 

Turkish Bra 

UAEfSrtmm 

Vooei-boBr. 


Key Money Rates 

Uidtod States Close 

Discount rote 5 -°° 

Prime rate 8A 

Federal foods S* 

W-day CDs dealers 542 

160-day CP dooiors 551 

3-moiitti Treasury HU 4518 

1- fear Treasury MB 534 

2- year Treasury b® Ml 

5-year Treasury note £16 

7-year Treasury note 421 

UHtaar Treasury note 437 

30year Treasury bond 457 

MCTffliWCJiSMnyRA SM 


Britain 

Btnktasu rate 
Can money 
1-fDoath MteftKBik 
3-month Interbank 
Interbank 
10 -yeerCar 


7M 7M 
7 Vo 7V*. 

TV* Jto 
7V* 7 

7V* 7 Vo 
487 491 


Forward Rates 

QHRocy 30401 4W *Mor 

frwodlteritas }■&* \St 

(linnr 13881 1J8S5 Uwf 

pMUdamart 13542 1.7S06 l.MH 

SoHtw; UK Bank 


- — 30401 40ri»y W* 

I195J2 118-71 

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Discount rate 
Call money 

1-monlh Interbo* 

3-«ontt) arturtwnk 
6-mottth taterWnk 

lOyenr Owl bond 
Genpany 
Loadnrdrote 
Con money 

l-ffiontt MortwA 

3-Biorrth inteftMnk 
t-njoaJH WurfiBuk 
TOyeo- Bond 


France 

Intervention rate 3.10 110 

CoB money 3*b 3Vm 

1-tnontt Interbank 3te 3W 

3-mooSi brtertwnk 3Vu 3Vta 

i^nonth Jnturtamk 3>W 34k 

loyonr OAT 554 557 

SourcBS: Haulers. Bloomberg. MonMI 
Lrpeltt Bank ol Tokfo-MImubhlil, 
Cannurttfonk, Oatt Lytevtak. 

G° ,C * AJWL PJA. Ch'je 

Tenth 32345 32150 —250 

ijoadoa 323-15 322J0 -1JJ5 

MewYerk 32550 32180 iul 

U.S. dollars per ounce. London official 
fixings Zt’tirM and New York opening 
andaosinBIHicesimwYiitkOme* 

(Dec) 

Source: Rentes. 


are made in Hollywood. In the case of 
“The Full Monty,” the decisions ap- 
pear to have worked up to a point — the 
film has received almost uniformly pos- 
itive reviews and will probably emerge 
as one of the most successful smaller 
movies in years. 

Several rival distribution executives 
said, though, that the film had been 
released far too slowly around the 
United States and might have damaged 
its box-office prospects — a criticism 
rejected by Fox Searchlight executives. 

The film’s cost of about $3 million is 
a pittance by Hollywood standards. 
During the last weekend the movie ex- 
panded to 75 markets around the coun- 
try. The film’s popularity is under- 
scored by the fact that it is now No. 6 at 
the box office while playing at only 386 
theaters. In contrast, the No. 7 film, 
Metro-Goldwyn-Mayer’s “Hoodlum,” 
is playing at 2,020 theaters. 

[According to The Associated Press's 
data on weekend ticket sales, ‘ ‘The Full 
Monty ’ ’ was the No. 3 film in the United 
States, with estimated sales of $3.3 mil- 
lion, on Friday, Saturday and Sunday.J 

Executives at Fox Searchlight said 
they were hopeful that the movie’s suc- 
cess might eventually rival that of “Four 
Weddings and a Funeral,” an unex- 


pected 1994 hit that in the end grossed 
more than $52 million — although that 
hope might prove too optimistic. 

In any event, the film is by far the 
biggest success at Fox Searchlight, a 
division set up by Fox to release smaller, 
artier films. 

The division has been struggling, 
with disappointments such as “She’s 
the One,’* “Stealing Beauty,” "Blood 
and Wine” and “Smilla’s Sense of 
Snow.” 

The success of “The Full Monty” at 
the Sundance Film Festival in January 
was followed by test screenings in Lon- 
don and Los Angeles. 

“The numbers went through the 
roof,” Mr. Dinerstein said, referring to 
the results from what are, essentially, 
score cards filled out by audience mem- 
bers about a movie after a screening. 

What followed then was an aggres- 
sive marketing campaign to build up 
audience interest in such cities as New 
York, Boston, Chicago, Los Angeles 
and Philadelphia about a film' with an 
odd tide (“the foil Monty” is a British 
phrase that means men revealing 
everything) and a cast without stars. 

Free screenings were held in these 
cities — initially aimed at women 25 
and older. 


PRIVATE BANKING 


Malaysia 
Postpones 
Bakun Dam 
Stock Sale 


CpmpUnlbyOvSxe'FmmDispaicha 

KUALA LUMPUR — The financial 
crisis in Southeast Asia jarred the region 
again Monday as Bakun Hydroelectric 
Corp. of Malaysia delayed its 3 billion 
rin ggit ($1.01 billion) initial public of- 
fering and Thailand’s central rank said 
its foreign reserves had plummeted. 

The bank said foreign reserves fell by 
$2 billion to $25.9 billion in the two 
weeks to Aug. 29, despite receiving $1.6 
billion from the International Monetary 
Fund. 

The drop in reserves was much more 
than expected, according to Arporn 
Chewakrengkai, chief economist for 
Deutsche Morgan Grenfell, who said 
that if the decline continued at the same 
rate, Thailand’s financial stability 
would be in jeopardy. 

Meanwhile, in Malaysia, analysts 
welcomed the decision by Bakun to 
delay its stock sale to try to keep Malay- 
sia's current-account deficit in check. 

“That's exactly what the market has 
been calling for,” James Lau, chief ex- 
ecutive officer at SBB Securities in Ku- 
ala Lumpur, said. 

Bakun announced the postponement 
of the offering, which would have been 
Malaysia’s largest so far, in a letter 
dated Friday and sent to Malaysian 
stockbrokers and merchant bankets. In 
the sale, 54 local stock brokerages and 
merchant-banking concerns were to sell 
1.5 billion shares at 2.00 ringgit each. 
The letter did not say when the shares 
would be sold. 

Two weeks ago, to reassure investors 
that it was taking steps to slash iis cur- 
rent-account deficit — imports of goods 
and services minus exports — Malaysia 
said it was shelving three large, impon- 
dependent projects. The 13.5 billion- 
ringgit Bakun Dam in the eastern Malay- 
sian state of Sarawak was one of them. 

The postponement came as Indonesia 
cut rates on its benchmark SBI gov- 
ernment bills fra the third time in two 
weeks in an effort to relax a credit 
squeeze that has threatened to cut eco- 
nomic growth. The benchmark three- 
month SBI rate was cut to 21 percent 
from 23 percent (Bloomberg, AFP) 


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‘*i 


L 


PACE 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMB ER 16, 1997 

THE AMERICAS 



Investor’s America 


ifc- — v 7-10 



^ - v 6.70 -- --V — i 



yjw, w. . — 6.30 — ~~ =r=z- 





M5 


1.65- 



130 — - 


*. c 120 —A j — 


J J A 


110 'Vm 


J ""j A S 


1997 


npsae • •; < ; 
wysey-.;"' 



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Toronto TS6 Wflp* .. V 






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£arw#s v .- • ^ 

VRAk;- ' ! - ^ 

Source.' Bloomberg. Reuters 

ItUcrmckiQal BenU Trihar 

Very briefly: 


U.S. Move on Microsoft Urged 


By Jube Shiver Jr. 

Los Angeles Times 


WASHINGTON — Stymied in 
their attempts to persuade the 
justice Department to take 
stronger antitrust action against 
Microsoft Corp„ some U.S. con- 
sumer groups are pressing the fed- 
eral government to buy more soft- 
ware from the rivals of Microsoft. 

Ralph Nader, the consumer ad- 
vocate, raised die issue of the $1 
billion software expenditure dur- 
ing a meeting with Douglas 
Melamed, principal deputy assist- 
ant attorney general 
Mr. Nader and Jamie Love, di- 
rector of the Consumer Project on 
Technology, argued that it was as 
unwise for the government to rely 
on a single software supplier as it 
would be to depend on a single 
defense contractor. 

* “Die current procurement stan- 


dards push the government toward 
Microsoft products *; said Mr, 
Love, whose Washington-based 
w atchd og group focuses on com- 
puter policy matters. 

Under a year-old change in pro- 
curement practices, federal agen- 
cies now can purchase computer 
products with less government red 
tape over product specifications 

and prices. . . 

But many software developers 
say the change has only 
strengthened Microsoft’s hold on 
the market, because many federal 
employees want to use the same 
Microsoft software products at 
work as they use at home. 

Microsoft’s MS-DOS and Win- 
dows software operates 80 percent 
of the world's personal computers, 
and Microsoft Office software, a 
collection of word-processing, 
spreadsheet and other programs, is 
now the leading bundle of business 


applications, selling about a mil- 
lion copies a month. 

Justice Department officials 
have not indicated whether they 
will support Mr. Nader’s plan, 
which the consumer advocate will 
present this month to the General 
Services Administration, the fed- 
eral government's procurement 
arm. 

Mr. Nader could not be reached 
for comment, and Mr. Melamed 
declined to comment 

Vivek Vartna, a spokesman for 
Microsoft, based in Redmond. 
Washington, said the company had 
not heard of Mr. Nader’s proposal 
but he said Microsoft's success in 
the market stemmed from its su- 
perior product offerings. 

“Government agencies need to 
get the best value they can for their 
technology, and Microsoft offers 
great technology at attractive 
prices,” Mr. Varma said. 


Setbacks for Computers 
And Tobacco Hit Stocks 


* 




¥ V Lift 


CtmxittilvOarS^Frvei D ^ xadas 

NEW YORK — Stock pri«» fell 
Monday as declining compute* and 
tobacco issues overwhelmed in- 
creases among shares of companies 
that were buying back stock ana 
raising dividends. 

With no major economic data re- 


leased Monday, investors were cau- 
tious ahead of ti 


finished down 21.83 points at 
7 721-14- The broader Standard & 
Poor’s 500-stock index was off 4.50 
ooint at 919.41. The technology- 
heavy Nasdaq Composite Index 
dropped 14.43 points to 1,634.90. 

Eli Lilly rose 3 5/16 to 1 11% after 
the maker of the antidepressant Proz- 
ac said it would raise its dividend .11 


. the Tuesday session, 
when the government will report on 
consumer prices for August and the 
Federal Reserve Board will release a 
report on industrial production. 

Investors and economists are 
eager to see new economic date that 
might indicate the economy’s di- 
rection. in March, the Fed raised 
interest rates to slow ihe economy 
and forestall inflatio n, and investors 
fear another increase will come in 
the final months of this year. 

The Dow Jones industrial average 


US. STOCKS 


EMU: Europe’s Markets Get a Lift From Decision to Advance Calendar for Euro 


Continued from Page 13 


the euro area as a whole.” 
The prospect of higher 


rates 


• Boeing Co. said a dramatic increase in orders tor ns jetliners t — ~ 

3 plan “ WOUld “S 2 K stocks gained 


already been converging around 
those levels. 

Most core European currencies 
traded less than one percentage point 
away from their parities against the 


not be delivered on time this month. 

Westingbouse Electric Corp. signed a definitive agree- 


_ more 

than 2 percent, and Spanish stocks 
rose more than 1.5 percent. Italian 


FOREIGN EXCHANGE 


■ - — — -p ■ | 1 tjjy lip I » 4, UVAVW.IM - » * - 

ment to sell Thermo King, its transport temperature-control stocks with little change after 


a strong opening rally faded, but the 


ities of Europe’s exchange-rate 
mechanism because the market has 


operation, to IngersoU-Rand Co. for $2.56 billion 

• Planet Hollywood International Inc. approved a plan to foa raitied. 

list its shares on the New York Stock Exchange and remove Many analysts and officials are 
them from the Nasdaq exchange. predicting that the EU will agree to 

• The government of Bogota plans to sell stakes in the city- fix exchange rates at the central par- 
owned power company tor about $1.2 billion, one of the 
hugest sales of a Latin American utility. 

• Star Banc Corp. of Cincinnati is buying Great Financial 
Corp. of Kentucky for $655 million in stock and cash. 

• Woodbridge Co. sold its 21 percent interest in Hudson's 
Bay Co. to a group of brokerages for 497 million Canadian 
dollars ($356.7 million), ending the Thomson family’s own- 
ership in Canada's oldest retailer. 

• Manor Care Inc. said it would spin off its nursing-home 
business, one of the largest in the United States, and keep a unit 
that would focus on real estate. Bloomberg. Reuters. AFX. AP 


mark Monday, and the expectation 
that those parities would be fixed 
irrevocably should keep currencies 
tied tightly together, barring an un- 
expected shock. 

“It’s not a speculator’s happy 
hunting ground anymore.” said J. 
Paul Horne, senior economist at 
Smith Barney in Paris. 


In late trading, the dollar was at 
1.7605 DM, down from 1.7715 DM 
on Friday. 

It was also at 120.175 yen, down 
from 121.00 yen. at 5.9165 French 
francs, down from 5.9575 francs, 
and at 1.4455 Swiss francs, down 
from 1.4635 francs. The pound fell 
to $2.6063 from $1.6075. 

With exchange rates effectively 
fixed beginning in May, central 
banks will face stronger pressure to 
align their interest rates to prevent 
investors from getting a virtually 
risk-free windfall by switching from 
low-yielding marks” to high-yielding 
lire. Short-term Italian interest rates 


stood at 6.75 percent Monday, more 
rhan 3.5 percentage points above 
comparable German rates. 

Senior Bundesbank officials have 
expressed growing concern about 
price pressures in recent weeks be- 
cause of the mark's relative weak- 
ness. fast money-supply growth and 
accelerating economic growth. 

Prices in Western Germany rose 
at a 2.3 percent rate in the six months 
to mid-August. 

Many economists expect the 
Bundesbank to lift rates a quarter- 
point in coming weeks and say die 
rate could reach as high as 4.5 per- 
cent by next May. 


Weekend Box Office 


The Associated Press 

LOS ANGELES — “The Game” dominated the U.S. box 
office over the weekend, with a grass of SI 4-3 million. Fol- 
lowing are the Top 10 moneymakers, based on Friday’s ticket 
sales and estimated sales for Saturday and Sunday. 


1. The Game 

(Patnmm) 

5143 million 

2. GJ. Jane 

{Hollywood Pictures] 

SUndon 

3. The Full Manly 

(T*ettieriCenk*r*B} 

KUmllSor 

4. Money Talks 

(New Line Onemal 

S3-2 mlBon 

5.FneDownBekw 

(WamerBnsJ 

53-1 million 

6. Air Fa ire One 

(Columbia Pictures! 

S3 million 

7. Hoodlum 

(MhfAitl&munsI 

S2.6 miSan 

8. Consphncy Themy 

(Warner BmsJ 

OJ million 

9. Excess Bogyage 

(Columbia Pictures! 

S2minoii 

ICLGeoiye of ttie Jungle 

(Wall CHsner) 

S1.7tnlinon 


Equity Office to Buy Beacon 


Bloomberg Ne h m 

CHICAGO — Equity Office Properties Trust, headed 
by the financierSam Zell, said Monday that it had agreed 
to buy Beacon Properties Corp. for 54 billion in siock and 
assumed debt, expanding its portfolio of office holdings 
by more than 50 percent. 

Under the agreement. Beacon shareholders will swap 
each of their shares for 1.463 shares of Equity Office. 

The move comes just over two months after Zell took 
Equity Office public to gain capital and finance an 
expansion of his holdings. 

Equity Office is the largest U.S. owner of office 
buildings. Including pending acquisitions, it owns 109 
properties with 36.8 million square feet (3.3 million 
square meters) of space in cities from San Francisco ro 
Boston. It also owns 15 parking garages. 

Beacon owns about 12 0 buildings with 19 million 
square feet of space in Boston, Atlanta, Washington. 
Chicago and California. 


INTERNATIONAL FUTURES 


Sept. 15, 1997 


HJW Low Lote! Qqa Optort 


Mgh Lo» Latest Otge Optra 


High Low LdtKl Q>9» Octal 


High Low LxiJeii Qige Opart 


Grains 

corn ecson 

&4I0O bu iPWmun- cents par taKM 
Sep 97 2*7to 2 U'a 267 +M 

Dec 97 2U J«* 26SH 
War 98 2741* 271 274V) 

Mot 90 1799, J75V» 379W 
J«w 7*3 379 282V 

Sap 98 774 372 Z73W 

Doc 911 271* WVt 271V, 

Est sales 4&O00 Fte sates 70831 
Fte open W 304071. up M73 


4417 
♦V* 19M9B 
♦ H* 55.962 
+ 1W 13445 

eM* 23510 
♦ltt 1*484 
ell* 14392 


ORANGE JUICE (NCTN) 

14000 Un.- cents per lb. 

Nu»97 *9.70 49.10 49,45 

Jan 98 72J0 71.90 7125 

Mar 98 75JO 74.95 7SJ0 

May 98 7825 78.10 78.10 

Est. sate NA Ws sate 1,453 
Fits open Ini 34831, up 227 


ID-YEAR FRENCH GOV. BONDS CMATIF) 


-030 

-025 

-030 

-013 


10443 

8.942 

4491 

U80 


FFSOCMWQ - ptsot 100 pd 
13040 


Sap 97 13040 13014 130.14—002 <1178 
Dee 97 99 A* 9884 99.08 +0.08 UlXW 
Mar 98 9842 9024 9048 * 008 128 
Esl. tees: 180249. 

Open tort. I815T5(jff4W 


Sep 98 
Ok 98 


9005 9478 95.04 *037 41428 
9S08 9484 9S08 +031 31197 
Est. sate. 1ZSJ71. Pm. sate: 54045 
Pro*, open atf_ 400231 up 14H 


SOYBEAN WEAL (CBOT) 

1 00 tens- Mots per tow 
Sep 97 24900 26530 24800 -1.90 4257 

Oct 97 22450 22240 22*90 -050 20370 

Dec 97 211 -SO 207.20 31030 UtKjv 4*094 
Jan 98 30 7JB0 30130 30700 +090 >L293 
Mar 98 20150 19850 20150 +040 10545 
May 98 19950 19700 19950 +1JM 8*28 
Est. site liOOQ Fte sales 17573 
Fte apm toil 109.447, up 549 


Metals 

GOLD (NCMJQ 
100 tray at- donors par bay OZ. 
Sep 97 32250 

- “ J24JO 321-80 32330 
33180 

32430 323-40 31470 

327.40 325AJ0 30400 
337 A0 

329.40 328.70 329A0 
331 JO 


Qd97 
Nor 77 

Dec 97 
Pi* 98 
tor 98 
Junes 
AooW 


44 

19543 


MOB 377.30 

Esl. sates 4MQ0 Fits sate 3*175 
Fihopwlal 214471 up S840 


-IDO 
-150 
-150 
-150 1185237 
-150 1W01 
-150 5386 

-1 JO 8553 
-1.70 4327 

-7-70 779 


ITALIAN GOVERNMENT BOND (UFFE) 
ITL 200 mnton - pb ollOO pd 
Dec 77 11050 10950 11053 +0.98 101880 
Mar 98 71035 11055 17033 +058 5 

Esl. sites: <1451. Piev.td 
Fleer, open Int: 103585 up 20X5 


UBOR 1, MONTH (CMER) 

S3 mflUoiY pts at 100 pd. 

Sap 97 9434 undl. 11074 

Del 97 9435 9435 9435 undl. 1955a 

No» 97 9431 9431 9431 indi 14271 
Eat tear 73045 Frfs sate 11.130 
Frfs open tort 61.092. up 2348 


Industrials 

COTTON 2 (NCTN) 

50000 lbs.- cents per lb. 

Od 97 7365 7317 7318 

Dec 97 7385 7335 7343 

Mar 98 7490 7455 7458 

May 98 7340 7i» 7530 

Jut 99 75. 95 0 74 7555 

EsL sates NA FtT5 odes 17552 
Fits open toll 87.384 off 1,023 


-073 5519 

-048 47570 
-042 11982 
-040 4233 

045 6044 


HI GRADE COPPER (NCAUO 


SOYBEAN OIL (CBOT) 




S*p97 

94 JO 

9160 

9430 

+030 

tOOOOIbV Carts DCT 10 




CW97 

94.70 

94J5 

9460 

♦ 020 

Sep 97 

2183 

23- -lfl 

7182 

*032 

880 

Not 97 

9560 

9530 

9530 

♦0.10 

Od97 

2197 

tLS* 

7191 

+033 

17807 

Dec 97 

9000 

94.43 

V5.VU 

+050 

Dec »7 

OJO 

J2J6 

7329 

+040 

45,7*5 

Jan 98 



96.10 

♦050 

Janos 

ZL50 

7103 

2147 

+039 

11650 

F«b « 



9620 

+UO 

Mar 98 

2173 

3335 

TJJJ 

+035 

7A74 

Mar 98 

9040 

9530 

9040 

♦060 

May *8 

23.95 

7350 

2395 

+041 

1546 

Apr 98 

96J0 

9640 

9640 

+060 


1749 

1970 

1452 


Esl. ten KA. Firs sate 11900 
Fits open nil >4141 up 927 


SOYBEANS (CBOT) 

5000 Du mhrtnwtn- cants par bushel 
Sep 97 735 710 73495 +1215 1241 

Nov 97 AOS'I 427 63414 +JVi 92487 

Jan 98 438 430 4371. +4Ul 21,939 

Mar 98 444 434 ’6 W3Vi *4’6 9J»4 

May 98 050 043 o4Wr -314 7367 

Est. sate 36000 Fte sote'49.39S 
Fits open lirt 145491 up 1931 


May 78 9670 9550 9640 +060 

Esl. sate 4500 Pits, sate 7.9T5 
Fits open IM 50241 oH 1.775 


941 

M2 

1740 

487 

11*0 


WHEAT (CBOT) 

6000 bu nUntoaiH 
Sep 97 399 352 Vs 

Dec 97 374 366(5 

M»98 387 380.7 

May 98 391 386(5 


cants per bus 


356 2 5 382 

36915 -SU 05509 

383(5 -4M 21429 

3895 .2*. 4353 

Est. sate 20000 Fils sate 20594 
Fte open MT 104.101 OH 477 


SILVER (NCMX) 

5.000 bay «o- cants per tray ol 
S ep 97 47100 47050 47050 
Od97 471.40 

Him 97 47480 

Dec 97 47000 47X50 47670 
JOK 98 47720 

Mor«8 48150 48100 48230 
Muy"8 48650 

J(4f8 49060 

EP. sales 8.000 Frfs tees 11.464 
Fin upon Int 78664. up 589 


EURODOLLARS (CMER) 

Si aiBQen-ats at iao pd. 

Sap 97 9412 9428 

Oa 97 9422 9421 

Dec 97 9412 94.11 

Mar 98 9404 9401 

Jon 98 9193 9191 

Sep 98 9383 9381 

Dec 98 9171 9369 

Mar 99 9369 9367 

Jim 99 9365 9363 

Sap 99 9361 9X59 

Dee 99 9X54 9353 

Mar 00 9354 9152 

Est sales 1 74330 Fte odes 675,777 
Ftn open tod 1942824. op 37.979 


9488 (inch. 404354 
9432 utKh. 17881 
94.11 until. 5*7,054 
9403 undv. 406840 
9X92 undl. 287.218 
9382 undl. 229833 
9370 ouch. 301,190 
9368 unde 139,438 
9364 undl. 111.257 
9360 undl. 91107 
9X53 unth 71145 
9X53 (inch. 46570 


HEATING OIL (NMER) 

42800 gat cants per M 
Od97 5380 5330 526? 
Not 97 5485 5170 5X72 

Dec 97 56.15 5480 5482 

Jen 98 5680 556} 5582 

Feb 98 5660 5692 5692 

Mre-98 5675 5652 5552 
Apr 98 5470 54X7 54X7 

Est. soto NA Fns solas 378>» 
Fte open Ml 54365. toll, 122 


-Q.06 40 491 
-0X6 30847 
-026 23624 
-026 21096 
-0X1 12473 
-0X6 0544 

•041 4X96 


150 383 

1X0 78 
(XO 

1X0 54480 
180 22 
1.80 11805 
■1X0 1216 
-1X0 1380 


BRITISH POUND (CMER) 


61500 pounds, s per pound 
Sep 97 16078 1X020 16050 41X008 256*2 

Dec 97 16014 15940 tJ9*B unde 29X54 
Mar 98 16950 15970 15942*0X012 227 

Esl sate 1964 Fte sate 14560 
Fte open tort 56X00. off 3 b 


UGHY SWEET CRUDE (KMER) 
1X00 MR- daflars per bbl 
Oct 91 1945 19X3 19X7 

NOT 97 1964 19X8 1941 

Dec 97 I960 1944 1948 

JCT198 1960 1950 1953 
Felt 98 1961 1952 195* 

Mar 98 1968 1956 1956 

Est. sate NA Fte sate 6*543 
Fte open tort 41X231 up 9.770 


xxs 

•005 67X62 
-0X5 5X 727 
-0X5 35*07 
885 14712 
-005 9,922 


9,748 

1516 

457 

2 


Livestock 

CATTLE (CMER} 

40000 bs.- cents per lb. 

Od?7 6*55 68 47 68.97 

Dec 97 70 72 #945 69.82 

Feu *8 7257 71.77 7287 

Junes 7152 71 XS 71X2 

Aug 98 71 St 70 80 71 00 

OC198 75X5 73X5 7185 


-045 33895 
8X2 31868 
■OJ2 1X26* 
-0.12 6,186 
-005 1615 

♦0.10 19 


esl. sate 15779 Fte sate 1L134 
Fits open mt *44*9, up 469 


PLATINUM (NMER) 

SO tray OL-doltars par tray ol 
O d *7 42950 42480 42700 -0.70 

Jan 98 41880 41380 416X0 +0.10 

Apr 98 41000 40980 40980 ,0.10 

Jut 98 40580 +010 

Esl. sate NA Fte sides 1582 
Fte open tori 1X72X all 03 

Oosa Pranou* 

LONDON METALS (LME) 

DadarspH’ metric Ian 
■ i (HlgbGiadi) 

159800 159980 161180 1*1280 
1614X0 161X00 162180 T622.00 
rtlndn (Waft Grade) 

207100 2075X0 2070(6 2072(5 

210100 210580 209680 209780 


CANADIAN DOLLAR (CMER) 

mooa doban. s per Cdn. dr 

Sup 97 .7197 7770 _7785.0X<W7 18646 

Dec 97 .7234 .7217 .7223^3X008 48470 

Mar98 J268 .7254 .7257*08008 1,220 

ESL sales 11X14 Fte sate 2X0)3 

Fte apan tort 68X49. up X332 


NATURAL GAS (NMER) 

10800 nun Mwi s vet mm btu 
Od 97 28*0 2.770 2X86 -0009 Si 130 

HOT 97 i960 2.900 2.912 -0JJ18 3A217 

Dec 97 3JMD 3800 3808 -0809 76.611 

Jon 98 1X30 3.990 7.995 4)805 24136 

FetoW 1745 1715 2X15 -0010 16.190 

Mar 98 2455 2435 243S imcii 10782 

Est. sate N. A Fte sate 49,758 
Fte open tod 242X82. up 7440 


UNLEADED GASOLINE (NMER) 


Forward 


GERMAN MARK (CMER) 

125000 iMXrius s per raaiti 
Sep 97 569a 5630 5675*00025 51252 

Dec 97 5732 5649 5708-00024 57.221 
Mar 98 5764 5777 5740.08022 1160 
Est sate 3IMB9 Fte sate S6821 

Fte open lirt 11 Lfl CL d! 1,194 


41000 gal cenb pw pal 


Od97 
Nov 97 
Doc 97 
Jon 98 
Fab 98 
Mar 98 
Aw 9 8 
May 98 


5880 

5*48 

SAN 

55.90 

56X0 

5695 

59.75 


57J 

55X0 

5540 

55.41 

5585 

5*50 

59.25 


58.23 

55.9J 

5540 

5541 
55.85 
5640 
59.25 
59.15 


-045 34727 
-046 2X463 
-05* 15934 
-048 1X736 
-054 1678 

-049 5473 

- 0 M 278? 
-044 1855 


FEEDER CATTLE (CMER) 

54000 lbs.- cents per lb 
Sep 97 8095 M45 B082 +030 

0CT97 61 .95 61X5 81.77 .047 

NOV 97 ffi.70 32X0 82X7 *042 

Jan 98 8120 82x0 82.92 -02? 

Mar 98 8270 82X0 8240 +087 

Apr 98 8Z4S 8ZJJ 8247 +0.17 

EH sate 4164 Fte sales 4488 
Fte open lirt 19X49, up 755 


Did 

Lead 

Spat 

Fonrad 


63280 

64100 


63X00 

64400 


2X54 

7.138 

4229 

2757 

1,718 

517 


62980 

64080 


63080 

64180 


JAPANESE YEN (CMER) 

124 in IHcn yen S per 100 y«n 

Sep 97 JS326 8300 8316*0X047 49.718 

Dec 97 8448 8372 8421*0.0043 69,920 

Mar 98 8545 8529 OS34 -0.0043 790 

ES. sate 10.576 Fte sate 3«41S 

Fte open tort 1 2041 7, up 2329 


Esl. sales NA Fte sales 28493 
Fte open tort 104438 up 505 


Spot 
Farnaid 
Tla 


638800 639080 644580 6450.00 
648000 649000 654000 6545X0 


Soot 5425X0 543080 543S80 544X00 

Forward 548000 549000 548580 549500 

ZMcapeddtUfb Grade) 

Spol 1593X0 159880 15B9JIS 159680 

‘ 140080 1401.00 139780 139980 


SWISS FRANC KMER) 

1 25X00 francs. S per franc 

Srrp 97 8915 8846 8902*00060 21.763 

Dec 97 .7015 8883 8985+08070 36,265 

Mar9B -TOGO -7335 J854+0JW70 1.178 

Esl sales 18.728 Fte sate 2S829 

Fte open W 59417. up U10 


GASOIL DPR) 

UX. daflan per nwMc wn - lets al 1 00 tons 
Od »7 164X5 163X5 16375 +0X5 29144 

166 00 165.00 16550 +0X5 14071 
16880 167.00 167 75 +050 16865 
169 JO 168-75 169 JO *DJ0 11.653 
7 7080 17000 170 JO +080 6842 
NT. N.T. 170 00 *0 75 4X30 

NT N.T. 169.00 +G75 2X2) 

Ed. (ate8.000 . Pnrr talas : 7.707 
PlOT open hrtj 94539 up 962 


NOT 97 
Doe 97 
Jan 98 
Fob 98 
Mar 98 
AprtO 


HOGS- UW* (CMER) 
40.000 Hu - anb per lb. 
oc97 nj» tdj: 

Dec 97 6740 4682 

FC0 9B 66.12 65X5 

Apr 98 62.75 6215 

JWI98 678S 67X5 


High Law Oma Qigo Opbd 


71.00 +125 
*787 8.10 

6580 +002 
62X0 8X0 
67X2 -0X2 


15X34 

9.984 

3873 

1.731 

949 


Esl. sate 643 Fte sate 7404 

Fits open lirt 31719. oH 396 


PORK BELLIES (6MEIU 

JO. 000 tbs., cents per lb. 

Feb 98 6880 67X5 67.95 4)10 

Mar H 6850 6780 *7 75 +007 
May 9s 67 JO unen. 

Esl sate 2242 Fte rate 1.650 
Fte open krt 5884 off 210 


Financial 

US T BILLS (CMER) 
SlmlGon-ptsoMOOpd. 

Doc 97 94.91 9489 9489 undl 

Mar 98 9489 9487 9487 wreft. 

Jwl9? 9473 undl. 

EsL ante 814 Fte sate 212 
Fits open tort ^319, off 756 


4441 

1436 


MEXICAN PESO (CMER) 

suxoa praos, s per peso 

>?97 12S80 .17650 .1287S+ 80071 11X66 

Dsc97 .527)0 MX7 .12363-8005 22648 

Mar 98 .11940 .11915 .11915 .00035 6.171 

Esl. sate 1445 Fte sate 1588 

Fte open tort 42J4& off 31 4 


4510 

434 

87 


SYR TREASURY (CBOT) 

iioaooa ptin- pts & 64ms at too pd 

500 97 107-87 (06-61 107-02 * 02 3*735 

Doe 97 106-47 106-38 10*44 + 02 207X95 

Efl. sales NA Fte sales 798*4 

Fte open Id 241030. all 170 


Food 

COCOA (NCSE) 

10 Pidric tons- Spot ton 
Sep 97 1*41 ISO* 1641 

D« 97 16S5 1*21 1*51 

Marts (685 1*59 16 «? 

May 98 1702 1683 1702 

Jul«8 1722 1713 1722 

SapCB 17J0 1710 1740 

Esl. sate 5,010 Fte sate 12848 
Fte opal tod 107.712. ua 327 


+17 14 

*11 42876 
+8 24369 
-B 12405 
+9 3820 
*9 4M9 


ID YR TREASURY (CBOT) 

Sioaaoo grin- pts &32ndsoM00pd 

Sep 97 (0615 109-09 109- 13 undl 4(1087 

Dec 97 109-96 IBS-30 109-03 +01 3305S1 

M»98 108-24 108-23 108-23 ♦ 01 11400 

Ed. sate NA Fte sate 144676 

Fits open ltd 382.24a off 4931 


3-MONTH STERLING (UFFE) 

csnuno-ptsofioapd 

5ep 97 92>4 9177 

Dec 97 92X0 9287 

Marts 9289 9286 
Jun98 92173 KJA 
Sep 98 9380 92X6 

Dec 98 9288 9283 

Mar 99 9294 92.9Q 

Ed. SOME 74388 PtOT. jcSbi 38705 
PlOT. opm toft: 669,744 op 1X79 


BRENT OIL OPE) 

U^. doflars pcrbomH ■ lots at I.OCC eorarts 
Od 97 18X0 18.16 1823 -034 28497 

Nov97 1841 1877 1833 -0X0 6S.7SJ 

DCC97 1847 1837 1843 -021 2LW9 

Jonft 1853 (&47 1852 —0.57 19,459 

Feb98 1853 1847 18S2 -017 7.227 

Mo- 96 1845 1845 1848 -0.17 1»C3 

Ed. sate. 42X00 . Prev. safes : 39 j) 64 
Pw». open tort.: 159.038 off 14*0 


917* +007 97 1531 

«4? +103 m«6 
9249 +0X4 109X28 
9173 +005 71640 
92X0 *807 42X47 
92X7 *006 56,999 
92.94 +0X6 50X03 


Stock Indexes 
SP COMP INDEX (CMER) 

S»« Index 

Sep 97 930 JO 921.00 92100 -HO 89.107 
Dae 97 939.90 930X0 931X0 -2X5 113X45 
Mar 98 949X0 94700 942.00 .1X5 15* 

ESI sate NA Fte ton 123.773 
Fte own lirt 725X12 up 1425 


•1.2 5 


£DFPEEC«CS£? 

37,500 On -Djirts sei to 

5ep97 19000 18500 18700 

0«97 175.00 170.00 172WJ *0X5 

M6T98 1CTJS 157 M 1SR2S +OSS 

May 98 153.00 15100 151.75 -075 

Jul«g 147 00 14400 14125 -075 

Esl sate 4747 Fni ides 11.779 
Fte open ini 21994 oH 1,037 


277 

14183 

4894 

1X57 

U51 


US TREASURY BONDS (CBOT) 
a Ad JIOWOOpb A 32rite or iso pen 
Sop 97 113-36 113-15 113-34 + 05 100651 

Doc 97 113-14 11M2 113-12 
Mar 98 11KB 113-36 113X1 
Junflfl 112-21 

Ed. sdes na. Fte sate 60S.93B 
Fte open lid *13X41 up 17X58 


05 474429 
05 34X53 
U 1568 


3-MONTH EUROMARK (UFFE) 

OMImffiei-pfsofioapa 

Sap 97 96.77 »6JX> 9672 Uncft. 173X41 

Od 97 96X0 96X8 " 

Not 97 96X2 96X1 

Dec 97 96X1 9641 

Mar 98 96X5 96X0 

Jan 98 96.14 9597 

S«p98 9U3 95X3 

Doc 98 95X8 95X6 

Mar 99 9548 95X9 

EsLsate 499A7I. Prw.tate! 191971 
Pm. open HL 1X71779 op 8343 


96X9 -OJM 1447 
9*X3 -0.04 430 

9843 -007 392X98 
96X3 -0X9 281726 
9600 -ftll 2291? 
9582 —0X9 tiZVS 
95X0 — OJJ6 161.152 
9544 -am 136X87 


FTSE 188 (UFFE) 

£25 per Inka patotf 

Sap 97 49160 *8520 4911X +B0X 41984 
Dec 97 49740 491 SX 4973 J) *BlJ 15.176 
Mar 98 497S0 4975 0 50170 *830 1X10 

Esl. sate. 23X51 Pm.solK. UxOi 
Pm. open ad- 81122 VP 1X52 


CAC«(MATin 
FFW) per hbtet paint 
Sap 97 29)10 38480 


SUGAR WORLD 11 OKSE) 

117.003 It* • cents wra. 

Od97 11.43 IMS 11X2 X 17 69^8 

Mar 98 1201 11 22 11X7 XX2 87X89 

May 98 11 S7 1177 1190 4LIS 19X36 

JU«S 11X7 11. aS 11.71 412 14563 

Bit sate 51525 Fte seta 21388 
Fris open nrt 205x58 up lx*, 


LONG GILT (UFFE1 

£50000 - Bis & m* at 100 pa 

Sap 97 II64B 11640 116-10 *4-12 6X73 

IfccP7 115-27 US-17 (15-26 -O-IJ 170089 

Mar 98 NT K.T. IIS-19 +0-12 

Etl Kl« 49X81. P»w sate: 92X97 

PteLOMnUL- 174161 up 12X26 


3-MONTH PIBOR CMATIF) 
FfSnUBen-ataatWpet 
S«p 97 96xl 9640 96X0 Undl. 41X9* 
Doc 97 96X8 96X9 96X3 - 0 05 50X43 

Mar 98 9633 96X2 96X4 - 007 31060 

Jv»98 96.14 dun 96JJS — OUg rmn 

Sep 98 9S95 9345 9347 - 0 07 23X46 

Ed. satac 110007. 

Oprornl. 25S065sff 717. 


. 29100 +750 42X56 

0097 290*0 285*0 791*5 +750 1276 

Not 97 2912-0 78640 79740 + 75 0 2.137 

DOC 97 197V) 2171.5 2931 j *750 4B35 

EM. sate: 21916. 

Open toil. 71626 off 11 


GERMAN GOV. BUND (UFFE) 

05(350000 - pts of 100 pd 
Doc 97 103.00 101.62 1D148 +02 23L7D) 
Maroa NT. NT 10107 +ftl3 
Est sete I30.7&7 Prew ton 144957 
Prat, open toft.- 2S&563 off 1X27 


3-MONTN EIHKURA (UFFC1 

ITL 1 mnoni - pit Of 100 pc 

5«p 97 9127 93X2 9M9 *009 6icn 

D«C97 9876 9157 917* +030 111X39 

Mor91 9436 94JJ7 94X6 +033 70342 

JW198 9484 94X7 9444 +0J9 61.15] 


Commodity Indexes 

Owe Preytoas 

Moody'S 1JS8X0 1,569 80 


Reuters 1,907.40 1.91450 

DJ. Futures 147.97 147.93 

CRB 24129 241.40 

Sources: Motif. Assoaatce Fiess. London 
Inn financial Futures Exdsaitx Inrl 
Exehonpe. 


AMEX 


Monday’s 4 P.M. Close 

The top 300 most ndive shares 
up to the dosing on Wall Street. 
The Assoaated Press. 



-The finest watch in the world 

WILL ONLY BE WORN BY EXCEPTIONAL PEOPLE.- 



Automatic Royal Oak 


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Trading Activity 


NYSE 


Advoncert 
DacfcwB 
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NedHigtis 
New Lute 


ISO 

12 ® 

S71 

1403 

280 

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16 


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183 

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1957 

7486 

ss 

2401 

1745 

1513 

5729 

% 

Market Sales 




Tartar 


Free. 

NYSE 

Amo 

Nasdaq 

44* 

451 J9 
2357 
SUMS 


CUB. 

644^3 

41.11 

70049 

InmitBom. 




Dividends 

Company 


Per Amt Rec Pay 


IRREGULAR 

BorolLMADR . 437* 9-23 10-27 

- .Irt2 9-16 9-19 

- .131 9-16 9-19 

- .131 9-16 9-19 

- ,-115 *-l 4 p-* 9 

- .1743 9-26 11-10 

STOCK Spur 

HaefiCo2lorl 1 


Company 

Orion Capital n 


Per Amt Rec Pay 


- .16 9-22 10-1 


Pnid Total Rat A 
Prud Total Ret B 
Prvd Totol net c 
Prud Total Ret Z 
SmoHJdADR 


I IMULMlJCS 


* 

Ttorl ! 


Areerttech Corp 
Camden Property 
OrcaBOty 
F li ton Bancorp 

o&tRnrrr 

ICQ Inc 


REGULAR 


Inc 2 lor I spur. 

INCREASED 

FstSwpBcpInc o 

0 
a 
0 
a 

INITIAL 

HodiCon . J33 10-17 ID-31 




Meridian P 
Mofex Inc 


Ully.l 

PMC Capitol 


Sunslane Ha lob 


32 9-30 10-17 
•AO IM 12-10 
-315 9-30 10-14 
.275 9-30 11-14 
.12 9-15 9-M 
JO MO 10-15 


Norm Pittsburgh 
OakHifl Find 


Santa AnBoRlty 
Sun Communities 
TiLConflnentol 
TronsPro Inc 


-565 MO IM 
49 9-30 1 0-17 
JOS 9-30 10-15 
-05 9-19 9-30 
/36 9-30 10-16 
-055 9-19 9-30 
J7 MO 10-15 
•07 9-19 9-30 

■°J5 ,0 ' 27 

■J4 lti-1 10-15 

■§£ ?;'? ,WS 

-20 10-3 10-24 

9-M 10-13 
-IS 9-22 9-24 
■05 9-24 1D-B 


a-^OT&b-apprax te a to u ii te wl nor 


Stock Tables Explained 

curren?2^ 


the 


the West dcctofatton. 

- dividend aba artra ($). 

- annual rare of dividend plus stock mv- 
Kind. 

liquidating t&ttdend. 

• PEexaxds99. 

dd- called. 

d - now yearly km. 

dd - bus In tho tart 12 monffis. 

R-dhridend declared orpata in preceding 12 


onfluBl ^ unknown. 

ssia& 


- annual rate, inaoased an tost dedo- 
roHon. 


fs%iKi5Sffi ,n funte wbied to 


(fea0 ' » stock 


rSsS: 

EssksssbK 




DM *** n<1 b^ns with date of 

»-5Ql0S. 

LlSWmdJWM i" taodt In preceding 12 
“Jjgjd I cosh value on «*Uy- 
xtend or ej-ttortbufion d(te- 
u-newyeartyMgn. 
v- trading hotted. 

«^°^o^ a,n,pante ‘ 

Vn - when ksuetV 

** - With warrants, 

x^w-tfi vldend or ex-rights. 

^ ~ ^-gW ribuiloa 
"-’^"'‘worrants. 

fll «J Mies to ML 

8- sales In tuft 




¥ 


jp' - ; •• 


1 


cent and split its stock 2-for-l. Dell 
Computer rose Vt 10 S7J6 aftw an- 
nouncing share buybacks. 

“TTiere’s probably a little more 
consistency in earnings in laige-cap 
names.” said Torn Milne, chief in- 
vestment officer at Tennessee Con- 
solidated Retirement System. 4 ‘In the 
last two or three days, you’ve seen a 
trend toward the Dow stocks.” 

Mr. Milne said he did not expect 
much of a rally far stocks, .big or 
small, because they are costly rel- 
ative to bonds- 

The benchmark 30-year Treasury 
bond was up 5/32 ar 97 12/32, 
lowering its yield to 6 SI percent 
from 6.59 percent Friday. 

Tobacco shares slumped after re- 
ports that President Bill Clinton 
would seek major changes to the 
settlement with class-action lawyers 
aimed at capping the industry’s li- 
ability in smoking-related deaths. 
Philip Morris fell 1 7/16 to 41 3/16. 

Computer issues were affected by 
Microsoft. whichfen5% to 132 9/16 
after confirming a three-month deday 
in its Windows 98 operating soft- 
ware. Ascend Carnmunicalioiis fell 2 
9/16 to 32% after another analyst cut 
his rating of the network equipment 
maker. (Bloomberg, AP) 


«i 


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\ty\ fa Ie, Wednesday; September 34 , 1997 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 


Monday’s 4 P.M. Close 

NufmnwWe pfes not reflecting We trades elsewhere. 


dm vm pe iaa>Hi v ii 


Dh ¥H PE 1 Ui Wffc 


The Assodatad Prass. 


ilkt'.T DIARY 




























































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PAGE 16 


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PAGE 3 


E, WEDNESDAY, SEPTEMBER 24, 1997 




R 


'nitors Hail 
snian \, 


INTERNATIONAL HERALD TRIBUNE, TUES DAY, SEPTEMBER 16, 1997 

EUROPE 


PAGE 17 


es toae 

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Paris Cuts 

* jts Budget 
Shortfall 

i 

Closing of Gap Aids 

Drive to Join Euro 

5 Ctxnpilrd hv Our Sag? F rum Dvfwahrr 

| PARIS — In a further step on the 
rpad to qualifying for the European 
single currency. Ranee *s budget def- 
icit narrowed in the first seven 
rponths of the year as growth in rev- 
alue exceeded growth in spending, 

. the Finance Ministry said Monday. 
K The budget deficit, which does not 

v include local-government and na- 
tional social-security deficits, nar- 
rowed to 259.8 billion francs ($43.3 
billion), from 273.6 billion francs in 
4>e like period a year earlier. Rev- 
enue rose 3.1 percent, to 760.9 bil- 
lion francs, while spending rose 0 5 
percent, to 950.8 billion francs. 
[“This is satisfactory, since it 
shows the government has more or 
Ipss got spending in check, which 
will provide some comfort to the 
markets,’ * said Patrick Mange, econ- 
omist at Deutsche Morgan Grenfell. 
1 France aims to reduce its public 
deficit this year to around 3 percent of 
ife gross domestic product to be able to 
join the single European currency, the 
eitro, at its introduction on Jan. 1 , 1 999. 
finance Minister Dominique Stiauss- 

k< Kahn expects the deficit to be reduced 

* t6 3. 1 percent of GDP this year, com- 
pared with 4.2 percent in 1996. 

> The government expects to raise 
ebrporate taxes and find savings to 
generate 32 billion francs in revenue 
in addition to the 37.5 billion francs 
if will receive as a one-time payment 
from the sale of its 20 percent stake 
in France Telecom SA. Separately, 
France Telecom said the price range 
for that sale would be announced 
next Monday. (Bloomberg, Reuters) 

■ Unexpected Charge for GAN 

. France's state-controlled Groupe 
GAN will take an unexpected charge 
c(f 1 billion francs against first-half 
earnings but should still come dose 
to breaking even for the full year, 
Agence France-Presse reported, 
quoting the company’s chairman. 


Dalgety to Spin Off Half of Its Businesses 

British Pet-Food Maker Replaces Chief and Resolves to Return Cash to Shareholders 


Ceapdaltv Our SuffFnm Dispas+t, 

LONDON — Dalgety PLC said Monday that 
it would sell half of its businesses, return cash to 
shareholders and replace its chief executive 
after one-time charges led it to post a full-year 
net loss of £89.3 million ($143.6 million). 

Europe’s second- largest pet-food' maker 
pledged to return about £200 million to share- 
holders and focus on just three divisions — pet 
food, breeding stock and agricultural' supplies. 

To concentrate its activities, it will sell its 
British food-ingredients dJvision, which in- 
cludes the Spillers cereal and flour-milling op- 
erations and makers of seasonings across' 
Europe, and Maitin-Brower, its U.S. distributor' 
of food to fast-food chains. * ' 

Sales at the two divisions last year totaled ' 
£2.03 billion, almost half of the company’s total 
revenue of £4. L5 billion. The moves follow a 1 7. 
percent drop in Dalgety shares in the past year 
as the company has struggled under the twin 
burdens of an expensive acquisition and the 
effects of a worldwide ban on British beef 

f iroducts after the outbreak of a cattle di-wne** 
inked to human deaths in Britain. 


“Some change was needed, and they are 
making changes;” Michael Bourke, an analyst 
at Panmure Gordon, said. 

Dalgety shares closed half a pence higher at 
274.50 pence. 

Ken H anna, who took over as chief executive 
from Richard Clothier, said the beard had 
agreed only a few days earlier on the sale of both 
divisions and had yet to talk with any potential 
buyers. 

He said the food-ingredients business was 
operating in an industry that had become con- 
centrated in the hands of much larger com- 
petitors. 

Maitin-Brower, the largest exclusive food 
distributor to McDonald’s Corp. in the United 
States and Canada, did not fit in with Dalgety ’s 
plans to focus resources on a smaller number of 
activities and stood out as the company’s only 
food-distribution business in the group, he ad- 
ded. 

Dalgety warned in July that charges would 
damage profit for the year that ended June 30, 
the second time in two months that it had issued 
such a warning. Net income before charges fell 


to' £40.9 million from £59.2 million, but the 
company took charges totaling £137.8 million 
to cover the cost of integrating of Quaker Oats 
Co.’s pet-food business, which it acquired two 
years ago. 

It originally estimated the charges at £36 
million for this year and had already taken £84 
million in charges since the acquisition. 

Mr. Hanna, who had been finance director for 
four mouths, said the board and Mr. Clothier 
had agreed he should quit after his role in 
encouraging the purchase of Quaker Oats. 

“As you know," he said, "the momentum 
for bis departure bad been building for some 
time in the press, and we had just completed our 
strategic review.” 

Sales in the food-ingredients unit were flat 
for the year at £359 million. Sales at Martin- 
Brower were £1.67 billion, compared with 
£1.66 billion a year earlier, althou gh revenue 
fell about 9 percent because of the strength of 
thepound. 

The company took a £64 million write-off to 
cover the closings of three pet-food plants and 
other measures, l Bloomberg, Reuters . A FX) 




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J A S ^A M A S ■ 

1997 

\ 1997 


1997 

Exchange : 

index. \77 :/ 

Monday • 

7 . % ■ 

s’. 


Ctos© 

Oosa Change 

Amaterilsp#::. 

.#E*»» v 

-869J59 

864.73 ■ ■ .+055 


'B6L4SCL . 

2,341.50 

&3i5iz +1.1 a 


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3£54i* *0.90 

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Betsfeda 7 

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3,385.28 -0.73 

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■OBX" . 

msr. 

69S.47" " -056' 

London 

FTSE1O0 • ■ 

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Madrid 

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SB|a6 • • ' 

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M375 +5.49 

Pam • 

CAC4Q 

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2,834.07 +228 

Stockholm ■ 

SX-16- 

i3S6j7 

3,30122 +120 

Vienna 

ATX 

, 1,334.5? ■ 

1,34386 -0.6& 

Zurich ■ 

SPI S'. 

3,433.45 

3,417.22 tO.47 


Source: Tolokurs 


loicinjii njl Herald Tnbunc 


Neste to Sell Borealis Stake to Austrian Concern 


Very briefly: 


Bloomberg News 

ESPOO, F inland — Neste Oy 
agreed Monday to sell half of 
Borealis AS. a Danish petrochem- 
icals maker, to OMV AG of Austria, 
and die investment arm of the emir- 
ate of Abu Dhabi. 

The 4 billion-markkaa <$746.8 
million) sale, expected to be com- 
pleted by year-end, gives Finland's 
state-owned oil company cash to 
expand into the power business in 
the Baltic region and paves the way 
for the government to sell more of 


Neste-’s shares to the public, the 
Finnish company said. 

As part of t&e agreement, OMV, 
Austria’s largest oil company, said 
it had agreed to. sell its 100 percent- 
owned petrochemical unit, PCD 
Polymere Gmbfl, to Borealis, cre- 
ating Europe's! largest maker, of 
polyolefin, a family of plastics used 
m die household-products and auto- 
motive industries. 

The move comes after a drop in 
oil prices hurt profits in the Euro- 
pean petrochemicals industry. 


prompting oil producers to consider 
how they could cut costs. 

“This move is good for both 
OMV and Neste,” said Peter 
Hitchens, an analyst at Williams de 
Broe. 

“OMV’s plastic and chemical di- 
vision didn’t have great mass any- 
way, and one of the biggest con- 
cerns with Neste was its low cash 
flow.” 

Neste has been trying to withdraw 
from Borealis for more than a year, 
it owns 50 percent of the company. 


and the rest is owned by Statoil of 
Norway. 

For its part, OMV has tried for two 
years to find a partner for PCD as it 
tried to reorganize its operations to 
focus on oil production and shield 
itself from dips in the petrochem- 
icals business cycle. It declined to 
disclose a sale price for PCD. 

In Vienna, OMV’s shares closed 
at 1,727.90 schillings ($137.60), 
down 20.10. In Helsinki, Neste’s 
shares rose 0.50 markkaa to close at 
136-50. 


Sappi to Buy Austrilan Paper Maker for $1.3 Billion 


. . t - 


i '! 


idier Pfeiffer. 

, The company, which will receive 
20 billion francs in state aid toward 
its 1996 earnings, said half of the 
charge would be used to cover losses 
at its British Life unit. GAN’s shares 
vjere suspended from trading 
pending the announcement. 

4 

I •' 

f . - : 


Bloomberg News 

JOHANNESBURG — Sappi Ltd. agreed 
Monday to pay almost $1.3 billion for nearly all 
of KNP Leykarn GmbH, an Austrian company, 
creating Europe's largest maker of fine-grade 
papers used in magazines and annual reports. 

Sappi. South Africa’s biggest paper producer, 
will pay Royal KNP BT NV erf the Netherlands 
about 1.5 billion guilders ($747. 1 million) for the 
unprofitable paper company. It will also assume 
$545 million in debt. 

.Sappi’s purchase reinforces its presence in 
Europe, where it holds 7 percent ofihe so-called 
coated wood-free paper market, at a time when 


the paper industry is still suffering from slack 
demand and low prices. 

“Most everyone in Europe lost money in 
1996.” said Eugene van As. Sappi's chairman. 
“ If you take the mix of their assets and ours, their 
customers and ours, and our market shares in 
different countries, we represent a very good 
flL” | 

KNP Leykarn has already moved to cut 1,000 
jobs from! a work force of about 4,300 people, 
which will save an estimated $50 million a year, 
he said. The purchase will give Sappi low-cost 
production in the biggest and one of the fastest- 
growing markets for glossy paper. Europe con- 


sumes more than 6 million tons, or almost $7 
billion, of coated wood-free paper a year, out of a 
worldwide market of $20 billion. In addition, the 
European market is growing 6 percent to 7 per- 
cent annually. 

Sappi's shares rose 30 cents to 43.5 rand (9.2 
cents). KNP BT shares finished 3 guilders higher, 
at 46.20. 

“It is a major step” in the European paper 
industry’s consolidation, said Paul Carter, an 
analyst at ING Barings in Johannesburg. “It 
takes Sappi to 22 percent market share in Europe, 
which substantially increases its price-setting 
power within the region.” 


• The European Union's unemployment rate fell to 10.7 
percent in June and 10.6 percent in July. The declines were the 
first since October 1996, since when the rate had remained ar 
10.8 percent, according to Eurostat the EU's statistics office. 

• Inchcape PLC's net profit fell 30 percent in the first half, to 
£27. 1 million ($43.6 million), mainly because of lost revenue 
from businesses it sold last year. 

• Cable & Wireless Communications PLC, which was cre- 
ated last year by the merger of Mercury Communications 
Ltd. and three cable companies, posted a net profit of £80 
million on a pro-forma basis for the quarter ended June 30. 

• RAO Almazy-Rossli-Sakha, Russia's diamond monopoly, 
and De Beers Centenary AG are expected to hold high-level 
talks in Moscow starting Thursday to discuss a trade agree- 
ment, including a stalled gem-cade accord. 

• ZAO Svifl, owner of a controlling shareholding in RAO 
Norilsk Nickel, vetoed a proposal to double the nickel pro- 
ducer’s share capital. 

• France has talked to Marc Rochet, chairman of British 
Airways PLC's Air Liberte and TAT units, about succeeding 
Christian Blanc as chairman of Groupe Air France, ac- 
cording to Les Echos newspaper, which said Mr. Rochet had 
declined to comment on its report 

• Casino Guichard-Perracfaon SA expects operating profit 
to rise 24.8 percent in 1997, to 2.08 billion francs ($346.9 
million l, and it said it preferred a friendly takeover bid by 
Rallye SA to a hostile offer from Promodes SA. 

• Portugal Telecom SA said revenue from both its fixed-line 
and mobile-telephone operations helped first-half profit ad- 
vance 44 percent, to 33.2 billion escudos ($182.9 million). 

• The British newspaper The Independent will begin a cam- 
paign Tuesday to reposition itself to recover lost circulation. 

• Thyssen AG said a share issue had been heavily over- 

subscribed and had raised 1 .2 billion Deutsche marks ($673.1 
million ) for restructuring. Reuters, Bloomberg. AFX. AFP 


1 “M . 


NASDAQ 


Monday's 3:45 p.M. 

I The 1,000 mod-traded Notional Martel securities 
j in tms of dollar value, updated twice a yeac 

! The Associated Press. 




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Good news 

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the year 2003. 





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our competitors’ passengers enjoy a touch of flying Swissair, too? http://www.swissair.com 


swissair/y world's most refreshing airline. 



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* PAGE 18 


INTERNAXIONAL HER ALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 

ASIA/PACIFIC ~ 






L 


BHP, an Australian Icon, Sits on a Sha 


»&-S e^;.v>v =-:-1 


By Clyde H- Farnsworth 

New. York Times Service 


Were & Co., a Mel- 
bourne investment 
bouse. “At BHP, they 
PERTH, Australia — Write-offs of more realize thy hawe to g<?t 
than $1 billion over the past two years- [ eaae f““ 

Sagging earnings and stockholder equi./- have been a little slower 

Huge cost overruns at a rauctherakted iron- Ch “^ S L nv u- 

ore processing plant here in mineral-rich . Ok reason may be 
WesSxiASstofia and a troubled copper Jatthecom^ysi^n 
investment in the United States. Three resig- status m A°s*i^a has 
nations of senior executives. And a chairman 
who acknowledges be is “ashamed and a 
bit flabbereasted” by it all. , labor contracts, for ex- 

For Broken Hill Proprietary Co., the ample, are generally 
sprawling mining empire blown for much of seen as themostgen- 
£l 12 years as *e“Big Australian,” a has erous m the industry, 
been a time of big disappointment — and of Buta bigger reason is 

an equally broad reassessment that 7 “' . 8 

As an icon of an Australian economy in sheltered by the barrier 
transition, not to mention the country’s used to have tittle to wot 


erous in the industry. 
Buta bigger reason is 



actions that have long 
gone against its grain. 

Rising imports 
caused by lower steel 
tariffs, .lor example, 
were a factor in a BHP 
decision in April to shut 
down primary steel pro- 


world. Initially it was to cost $1 billion, but 
now the company concedes that the cost will, 
be closer to SI 5 billion- . 

“Even though some markets, especially 
in Asia, have been expanding,” Mr. Harman 
said, “you have to work harder to participate 
and maintain market share.” 

But for all its difficulties, some say the 


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ness as usual at BHP,” 
said John Prescott, the 


,, Trm^rnenL that BHP, long director and chief ex- 

m fcoStf anASian economy in sheltered by the barrier reefs of high tariffs, ecutive. But the company appesre to have . 
transition, not to mention the country’s used to have tittle to worry about Because of little choice, considering the harsh new reai- 
hifxoest company Broken Hill has come its protected home market and strong asset ities of the world marketplace, 
nridpr intense fire' from the financial press, base — in addition to iron, it produces steel. Given the new low-inflation environment. 


under intense fire from the financial press, 
anal ysts and academics. 

“Companies of the size of BHP should be 
able to avoid such large mistakes,” said 
Andre MoriceL, a professor of management at 
the University of Western Australia. "We in 
Australia have to learn to be more pro- 
fessional in our ' management, tip our 
game.” 


oil, coal, copper, manganese and other com- 
modities — BHP had become complacent, in 
some, particularly when com- 


town of Newcastle, pro- will rebound in the not-too-distant future, 
yoking an outcry from “We believe managem ent is very serious 

labor and community about changing its approach,” said Elaine 
leaders. . Prior, as analyst ai Merrill Lynch in Sydney, 

* ‘It is no longer busi- although she adds: ‘ ‘The path ahead may not 
ness as usual at BHP,” be smooth. The new BHP may be a less 
said John Prescott, the comfortable place to work than in the past 
company’s managing New skills will be required.” 

director and chief ex- • But she expects the company’s share price 

npany appears to have . to rise 20 percent over the next 12 . months 
ring the harsh new real- and has just rated the stock a “long-term 
irketplace. buy.’' BHP shares closed Monday at 16.36 

/-inflation environment Australian dollars (SI 1.79), up 0 . 06 . 
sible to simply produce The Big Australian started as a miner of 
•llect an inflation wind- silver, lead and zinc at Broken Hill in the 


■ «■ -V ...... - 




company s managing 
director and chief ex- 




“no longer is it possible to simply produce 
commodities ana collect an inflation wind- 


the view of some, particularly 


pared with the aggressiveness of many other economics at Perth's Murdoch University. 


fall,” said Frank Harman, senior lecturer in state of New South Wales. Today, ir is one of 




Australian companies, notably those in me- 
dia, information technology and medical re- 
search. 

Julian Stock, chairman of the Melbourne 


All commodity producers have taken their branch of the Australian Shareholders As- 

1- .r ' J _r 1 ‘ fnilinrrr 4C iK 


lumps adjusting to a period of low inflation, 

g lentifuJ supplies and lackluster demand, 
ut BHP, based in Melbourne, has been 


sociation, lists the company's failings as its 


Then, too, there is increased competition 
from rival suppliers, such as Indonesia, which 
is emerging as a major coal exporter and is 
closer to Asian customers than Australia is. 

The company has furthermore been con- 
fronted with a serious new problem: delays- 


the globe's corporate behemoths, with 
61,000 employees in around 90 business 
units in 70 countries. 

With sales last year of $16 billion and total 
assets of $28 billion, it ranks as the world’s 
second-biggest producer of iron ore (behind 


Source: Teiekurs 


• Inlcanuiond Herald Tribune 


Very briefly: 


“highly centralized bureaucratic manage- and large cost overruns at 


ut BHP, based in Melbourne, has been meat, no flexibility and cradle- to- grave under construction at Port Hedland, north of stale-owned Codelco). 


battered more than most by its delayed re- jobs.” 


action to the arrival of the global economy. 

1 ‘Globalization has put pressure on every- 
body,” said Neil Goodwill, an analyst at JB. 


Now, however, the Big Australian is feel- 


Perth. That plant, in the heart of Western 
Australia's iron-ore country, is to produce 


It is the third-bigg est producer of man- 
ganese and ranks seventh in the production 


ing the gales of competition like everyone 2.S million tons a year of hot briquetted iron of coal, 14th in steel and 18th in the oil and 


else — and is starting to take the harsh for use by electric arc steel mills around the gas sector. 


China’s New Motto: ‘Survival of the Fittest’ 


By Steven Mufson 

Washington Post Service 


BEIJING — China’s top eco- China’s determinat 
nomic planners have declared that dence in taking part 
they will follow the principle of competition anti coc 
“survival of the fittest” and will more open attitude 
reduce the number of wholly owned mem-controlled 1 


kets in exchange for greater access 
to foreign markets. 

“The move fully demonstrates 
China’s determination and confi- 
dence in taking part in international 
competition anti cooperation with a 
more open attitude." the govern- 
ment-controlled Xinhua news 


count for nearly three-quarters of 
the goods on which term's are im- 
posed, it added. 

The developments are part of a 
series of moves emerging from the 
party congress that are aimed at 
changing the shape of China's so- 
called “socialist market” economy 
by overhauling the ailing state- 
owned sector. 


reduce the number or wholly owned ment-controiied Xinhua news called socialist market econom 
state companies from 130,000 en- agency said. The tariff cuts will cov- by overhauling the ailing state 
terprises of varying size and func- er more than 4,800 items that ac- owned sector, 
tion to 512 large, strategic ones. 

“iFE’SS Beijing’s U.S. Trade Surplus to Widen 

fail,” Wang Zhongyo, minister of 

ibe Stare Economic and Trade Com- Reuters Washington says China had asm 

mission, said during the 15th Com- BEIJING — China's trade sur- plus of nearly $40 billion with tfa 
munist Party congress, which is plus with the United States this year United States last year; Beijing put 
meeting this week. “That is die les- will outstrip last year's because of a the figure at $10 billion, 
son of the market economy.” bumper harvest and shrinking grain Separately, Mr. Sun said Chin 
The government also exposed imports, a senior Chinese trade of- held little hope of reaching an ac 
Chinese companies to greater in- facial said Monday. cord with the United States o: 

temational competition Sunday “The trade imbalance will widen Beijing's application to enter th 


when it announced that it would cut for this, year,” the deputy foreign 
import tariffs Oct. 1 to an average of trade minister, SunZhenyu, said. He 


17 percent, from 23 percent The 
cuts were aimed at bolstering 
China’s prospects for joining the 


gave no figures. 

“The main reason is that this year 
China has had a bumper harvest for 


World Trade Organization, whose many agricultural products, so de- 


Washington says China had a sur- 
plus of nearly $40 billion with the 
United States last year; Beijing puts 
the figure at $10 billion. 

Separately, Mr. Sun said China 
held little hope of reaching an ac- 
cord with the United States on 
Beijing's application to enter the 
World Trade Organization during a 
summit meeting in Washington next 
month. 

* ‘I am not overly optimistic about 
reaching an agreement during his 
visit," Mr. Sun said of President 


Mr. Wang estimated that a third 
of state-owned enterprises were los- 
ing money. He said the government 
would no longer worry about mak- 
ing "each and every enterprise a 
success” and would employ a more 
Darwinian approach, focusing in- 
stead on making stale enterprises 
profitable overall. 

For the government to use its lim- 
ited foods to support the state econ- 
omy alone was a task as impossible 
as “10 fingers trying to hold down 
hundreds of fleas,” said Wu Jingli- 
an, a top economist in the Devel- 
opment Research Center. 

The nation's top economic plan- 


, probtem: delay, Brnll-. . Hindustan a of 700 
the iron-ore plant do Rio Doce) and copper (behind Chile’s million rupees ($19.2 million) from a 

id Codelco). its Visakhapatnam refinery, killing at least- 35 people., the 

* third -biggest producer of man- company said it had closed the refinery. 

1 ranks seventh in the production 9 Australia & New Zealand Banking Group will be opening 
Ml in steel and 1 8th in the oil and a representative office in Tel Aviv ; the central Bank of Israel 

said. * 

-* • Oil & Natural Gas Corp-, India’s biggest producer of crude 

oil and natural gas. said it had been given permission . to 
n . | . explore for coal-bed methane gas in an area of 560 square 

Dickson Concents kilometers <216 square miles). It estimated that the 10 blocks 

jT . ^ Bihar and Madhya Pradesb states bad potential reserves of 
ArnnirfXi Rnrnm about 605 billion cubic meters. 

tjUU ea UUf nvy d -PT Sierad Produce, ah Indonesian producer of poultry and 

emptied bv Oar Staff Fran Dapaxba Chicken feed. Slid it planned tO Sell 5200 million Of bond£ tO 

HONGKONG — Dickson Con- refinance debt and pay for expansion. 

cepts International Ltd. signed a • Finance OnePLC,an ailing Thai finance company,laid off 

definitive agreement to acquire con- f j aaa i 500 employees! or about half of its work force, a senior 
ffol of the American .retailer executive said ' 


Cjnftini by Oar Staff From DapaxAa 

HONG KONG — Dickson Con- 
cepts International Ltd signed a 
definitive agreement to acquire con- 
trol of the American retailer 
Barneys Inc. for $322 million, tbe 
companies said Monday. 

The agreement ratifies a prelim- 
inary deal reached Friday with 
Barneys, its affiliates and its un- 
secured creditors, according to 
Dickson Poon, chairman of the 
Hong Kong-based retailer. 

Dickson Concepts, which owns 
the Asian retailing rights to Polo 
Ralph Lauren clothing and Bulgari 


• Osprey Maritime Ltd., a Singapore-based company that 
owns and operates vessels for the oil and gas mdustry, said 


owns and operates vessels for the oil and gas indusny, said 
first-half profit rose 10 percent, toJ$8.35 million, or 5.79 cents 


a share. Revenue expanded 69 percent, to $56.4 million. 

• China is to launch a telecommunications satellite for Hong 
Kong’s . APT Satellite Holdings Ltd. in early October, a 
company official said. Reuters. Bloomberg 


lne nation s top economic plan- Ralph Lauren clothing and Bulgan TTG T *■ 1 T ^ A • Th li- 
ners indicated Sunday that China jewelry, is buying 51 percent of L3JOI6S JRABU OH AlT JL/C31S 

would proceed with its policy of Barneys for cash, debt and equity. . . 

“grasping the large and letting go of Creditors of Barneys are to get 49 Reuters 

the small” enterprises. Although percent of foe new company that SINGAPORE — The Japanese aviation sector will fall 
the 512 companies earmarked for Dickson Concepts creates out of behind its Asian competitors if it. continues to ignore the 
continued state ownership represent Barneys, a stake that is worth an worldwide movement toward “open skies” agreements, a 
four-tenths of 1 percent of the estimated S78 million. U.S. Department of Transportation official said Monday. . 

1 30,000 state industries, Mr. Wang But Mr. Poon said completion of “I think we've already achieved critical mass for bilaterals 
said they accounted for almost half the sale could take up to 1 2 months -on open skies in foe Asia -Pacific region.-V. Mark Gere hick, the 


members have been demanding that 
Beijing further open domestic mar- 


agreement during his of the state sector's total assets and 
Sun said of President sales. He said China hoped three to 

■ . _ -1* _« ■ 1- ft-.-* _e a ■ ■ ■ _■ _ i « ■ - 


maud for imports has dropped," Mr. JiangZemin 'strip, which is planned' five of these companies would rank 


Sun said. 


for late October. 


among the world’s 500 largest 


wi&Tlsetan Co. oOapan. . "Bubs m t& As5rPacfficTe§ioato viewiihNarita 
(Reuters. Bloomberg ) referring to Tokyo’s major international tefpprt 


WORLD STOCK MARKETS 


High Low Oom Pnrv. 


High Low One Pm. 


High tow close Pm. 


High Low Oom Pnw. 


Monday, Sept. 15 

Prfcas lr local anreodes. 

Telekvrs 

High Lew Oos* Pnw. 


High Low Oo» Prey. 


Johannesburg ab **■»**: mw* 

3 Pwioo*; 7U8J4 


Frankfort 


DAX.-M3C.IJ 
PRvton: nstsi 


Amsterdam AgLHESSf! 

rllWtR BMJJ 


AMBB 1620 

Adidas 221 

AflkmzHdg 387 

ABono 133.90 

Bk Berin J3JD 

BASF 61.10 


ABN- AMRO 
Aegon 
Ahold 
AkmMobd 
Bam Co. 

Boh Wes* ew 
CSMcm . 
DondtaOw Pttl 
USM 
Etarfer 
Farit* Ann 
Getranics 
G-toCCTO 

Ksr 

Hoogovensom 

Hunt Oounte 

IMG Group 
KLM 
KMPBT 
KPN 

NedtoydCp 
Nutrient 
OerGflnfen 
PtiBps Bee 


RawstadHdg 

Raben 

Rodnmco 

RoShko 

Row*) 

Rojot Dutch 
Undevsrcva 
VendexlaV 
VKU 

WanenKlcn 


40 3&20 
147 JO 147 

51J® « 

316 307.10 
126J0 1200 
mm 3 230 
9430 9430 
10638 10420 
187 18130 
31j« MX 

boao raja 
6030 S9.10 
S3J0 52JD 
201.30 99.70 
34S 337 JQ 
117J0 US 
WJ0 ffi 
90.10 8830 
72J90 70.1® 
47 JO 4150 
7X50 72 

62 CD 
».«l 57 
2X30 220 

151 147 

11330 10X50 
85 8IJ78 
18XS0 18750 
61 JO t : J0 
1800 186 
118 1I7J0 
106 10170 
417 406A0 
114 11160 
4450 4350 
243 23460 


3880 37.10 
147 JO 14850 
47 JO 49 JO 
3V5J0 311 

I25J0 126.10 

mo sue 

9320 94 

106 11R4® 

18S-'-.: m 
fi.io 30S8 
7930 39 

mjs sfM 
53 523 
100 100 JO 
340 33450 
11450 115 

8X10 83.90 
89 JO 89 

71 JO 7X80 
4420 4120 
72-98 ».S} 
60^0 61JD 
57 JB 58.40 
m&i VKVf 


148 146 

11X60 106X0 
83 8X50 
18750 18950 
61 JO 61 JO 
18680 187-80 
117J0 11750 
105JK) 10460 
40820 4I1J0 
11X80 11X50 
4410 43.78 
24240 234 


BASF 61.10 

Bayer HnoBk 70.90 
Boy.Verotnhw* 9480 
Bayer 6430 

Befasdorf 77 

Beww . 39J11 

BMW 1340 

CKACCabob 1ST 
Commerzba* 57.15 
DdaderBeiu 130 
□eguna _ 8950 

Deutsche Bank 105.50 
DeutTektom 24.95 
DresdaerBank 74 
Fiwentas 297 

FiesenhcMed 133 
Fried. Krouo 360 
(MW 700- 10 

HeiileJbgZmt 144 
Henkel pM 9X80 
HEW m 

Hochtief 83 

Hotthri 71.75 

Kantadt 628 

Lahmerer 88 


1578 1600 
217.80 215 

38450 39050 
13X» 12750 
43 4290 
MUTI 6150 
70.10 7X15 
9X90 9460 
6460 6410 
7530 78.10 
3X85 3X80 
1332 1310 
130 ‘ 

S7M 

12750 1 

8830 8950 
10450 10450 
; 3465 3420 
73L20 73.30 


AnukganJd Bks 
AagtaAmCoa] 
AngtaAm-Caip 
AngtoAm Gold 
AndaAm M 
AVMJH 
Baritna 
CG. Sinttli 
De Beets 
Drietwrtem 

Fat Nall Bk 

Gencor 

GFSA 

ltrper o Hdgs 

ingweCoal 

(soar 

Jatumles intK 
UbatyHdg* 


B 


lSSwisbR 35X 


Bangkok 


SET Mac H436 
PimtotlE 52411 


Ad* trtfoSvc 
Bangkok BkF 
KnmgThalBk 
PTT Expkr 
SiamCemealF 
Siam Com BkF 
TeteOMKBfci 


218 224 220 
155 U0 163 
(425 25 2425 
372 372 378 

590 404 


MAN 518 

Mameunam 457 

MehrtgeMkschcfi 39 JS 
Metro 79 JO 

Munch RoodtR 570 

Pieuasog 488 

RWE 79 J5 

SAPpM 418 

SAe&ifl m 

SGLCaaon 23X50 

S i emens 111.10 

Springer (AwO 1410 

SoettoKtar B56 

Thvsmn -wjo 

Wba 9X35 

VEW 560 

Vna 778 

Vofcwogeo U51 


13X50 12750 
354 36050 
W 70070 
142 144 

97 JO 9480 
460 460 

79 82-70 
7060 71.70 
611 625 

88 87.80 
1186 1201 
34 3450 
503 50X50 
85150 046 

3950 4X05 
7830 79 JO 
545 554 

477 30 479 JO 
7X10 7X60 
40950 413 

174 37X30 
225.90 730 

10950 11050 
1410 1450 

B50 B40 

401 409 

92J5 9501 

53 S4» 

76250 759 

1141 1161 JO 


Mhora) 

Nanumk 

Nedcor 

ReadmmflCp 

Rlchomort 

Rust Ptofinum 

SA Breweries 

SamanODr 

Sasol 

SBIC 

Tiger Oats 


3050 3X80 
273 273 

24X25 241.75 
24450 245J5 
18750 18850 
12J0 12J0 
5X50 53 

2X10 23 JO 
777 JS 13775 
3175 31.75 
37 37 

10JO 1X70 
97 JO 97J0 
49J 5 47 .25 
79.75 77 75 
X15 X15 

6375 6X50 
377 377 

14050 142 

16 1415 
9850 99 

18 1X10 
97 9B7S 
4150 41.60 
6150 61.75 
S050 8X50 
'33 133 

36 36 

6050 6X75 
m 70X5P 
70 7X25 


Kuala Lumpur 

r PimtBOS; 85X08 


AMMB Hdgs 
Gening 
Mol Banking 
AW InftSNpF 
Petrore aGas 
Proton 
Pubic Bk 
Renong 
Resorts World 
RothaxmsPM 


sssa 

Tenaga 

IWEngineere 

YTL 


1X10 945 

1098 1070 
1X60 18.10 
555 5JtS 
9.40 9.15 

MS 9.1S 
195 287 

160 132 
7JQ 7.15 
26 2575 
7 JO 7JU5 
975 935 

X70 X45 

1340 IX9t) 
472 454 


9.65 10 

10.80 10.90 
IX1D 1X60 
5J0 575 

975 9JQ 
970 9 JO 
288 192 

146 134 

775 7 JO 
26 2575 
775 7-30 

9 JO 9JS 
870 8*0 

13 I16CI 
456 456 


Netd 

Nonetdi Union 

Oronfte 

PRO 

Pearson 

PWWngton 

PownGen 

Premier Panel 

PnidertW 

RoWockGp 

Rnnk Group 

ReckBtCotm 

Redond 

Reed InH 

RentoU InBal 

Reuters Hdgs 

Reront 

RTXreg 

SMC Group 

Rofaltoyee 
RmaiBkScal 
Royal & Sun AM 
Safeway 
Sains brey 

aainKien 

Scot Newcastle 
Scat Power 
Securicor 
Severn Trent 
SheflTiUTBgiR 
Siebe 

Smith Nephew 
SmHhKfne 
Smllhs Ind 
StaBec 
Stagecooch 
Stand ChretM 
TidBSLl* 
Teuu 

Thames Vtaer 

31 Group 

71 Group 

Tomkins 

Uni ever 

UM Assuronoe 

UMNcws 

UMUWlies 

Vendonw Lx uts 

Vodafone 

WWhrtad 

WOBarei Hdgs 

Wolseky 

WPPGnwn 

Zcmxa 


7J1 7J3 

136 3J2 


XI 8 X16 

6.82 6u65 


7J1 7.54 

1.45 1J6 


7.91 7J8 

577 578 


679 676 

7.74 7M 


152 156 

9.69 9J8 


X84 191 

172 163 


X35 275 

6.74 869 


Edtaai 

ENI 

Rut 

General Assic 

IMI 

INA 

Mgas 

Menasel 

Merfiabanai 

Montetftan 

Qltvettl 

Prematat 

PWH 

RAS 

Roto Banco 


711 107 

970 9.78 


SPtaato Torino 
Telecora Ikifla 
TIM 


10l37 9.98 

278 271 


8465 8595 

9940 10200 
5625 5845 

37800 38300 
16640 17050 
2570 2610 

5520 5710 

8000 8330 

12360 12390 
1242 1261 
880 888 
2640 2665 

4550 4 TOT 

14775 14890 
22158 22250 
12650 13060 
I0B4O 11140 
6220 6425 


Brahma PM 

Cerrtq Pfd 

cesppu 

Cope! 

Elehabros 

DaubOTCO Pfd 

Light Sennctos 

Ltotnpar 

PBrobras Pfd 

Poutsto Un 

Sid Nadcnal 

SctftaCivf 

Tyetius Pfd 

Tetemio 

Telerl 

TetapPW 

Unftenco 

UshnkKrePH 

CVRD PM 


I 79X00 79OJ0 
I 5450 S5J0 
I 8X50 8100 
I 16 JO 1400 
I 52400 54100 
I 549.00 56000 
46000 45900 
33500 34470 
27X00 28499 
7U07 18700 
3900 4000 
1002 1000 
13430 139.50 
16700 17000 
12970 13200 
30X99 31900 
3600 3700 

u.is n oa 
2500 2601 


The Trib Index 

Jan t. 7992 - 700. ’ ’ Ui 


Priass 6s of 3X10 PM Now YorkOmo. 


115 606 

576 113 


3J4 386 

426 424 


Montreal 


17J8 17J5 
7.35 7J6 

450 447 

2-53 tea 
X62 X59 

439 476 

1171 11J2 
107 108 

5X3 SJ1 
xn X6i 
465 463 

6.79 478 

7.94 7.90 

403 407 

436 434 

7.97 7.93 

492 408 

508 187 

376 373 

1774 17 J3 
448 443 

7S> 7.63 

6 85 480 

474 474 

118 307 

704 703 

3 55 X48 

484 470 

2J0 2.79 

1X71 1X53 


See Mob Com 
Cthi Tire A 
CdnUflIA 
CT Rrri 5vc 
Gar Metro 

GtWestUtBco 

InaoSCO 

Investors Grp 
LobkneCos 
Motl Bk Canada 


Poorer Carp 
Power Riri 
O oebecnrB 

Rogers Comm 8 

RoyrdBkCda 


Wridb Mtae 3S44M 

PreVkOB 354X11 

51.60 51 JO 5000 
27J5 2760 27% 

37.15 37.15 37J5 
4X45 4145 4X40 

18 1X15 1870 
32<4 32X5 32.45 
3X95 3X95 3845 
3585 36 35Vi 

2060 71 213J5 

18(4 IX® ISM 
38 38J0 38* 

16.15 1675 36*4 

26« 7465 2S'5 

X5Q X9Q 900 

6420 6460 643Q 


Markets Closed 


Stock markets in Seoul and 
Tokyo were closed Monday 
for a holiday. 


World Index 
Hogional mduow 
Asta/PadBc 
Europe 
N. America 
S. America 
industrial Mum 
Capital goods 
Consumer goods 
Energy 
Finance 
Miscellaneous 
Raw Materials 
Service 
Utilities 


yvvMtWa 

Xctungo 


17056 

. +133' ^ • 

+0.72 | 

.+.14.83 ' 1 T— - 

' 

118.56 

: +0.77 : ; 

+0.65 

-3.95 ! . 

i 

184^1 

. ' *Z2B ' 

+1.24 

+14.27 . ' 

■* 

203,50 . 

+1-26 ‘ 

40.62 

+25.69 


153.66 

-2.39, 

-1.47 

+3933 : ’ 

... 

21B26 

+ap s , 

+0.02 

+27.70 -• ; 

■' 

18052 

*2-24 : 

4-1.22 

+15.36 , •: 

/* 

200.79 

* 2.70 

+1.36 

+17.62 ■ C>- 


127.33 

+1^15 

40.91 

+9.33 • T??*" 


183.59 

+1.68 

40.92 

+13.48 . 


181.08 

-1-62 

-0.88 

+3.25 'y ' ■ 


161.98 

+0.93 

40.58 

+17.96 


164.99 

-0.60 

-0.48 

• +15.01 ■ 



^ l ^^^ lraldT, ^ ijn0 *^SBxhMexGtntciae>eU.S. UoUarvaHjosof 
92521 NouOyCedox. Franco. Ccnp** by Btoombey He^ 


Singapore 


SlraHs Titnei: 193X19 
PmouK 193SL9S 


High Low Close Prev. 


High Low dose Prey. 


Asia Poc Brew 5 50 
CerobmPoc 560 

GtyDwtts 


OBX MR: 69147 
Pmriaai: 693J? 


10.40 

)0J0 

Dahy Farm fni • 089 


Aka A 

Bagesen Dv A 
Oirisfmto Bh 
Don ranks Bk 
Efeem 
Hofaiund A 
KvocmerAsa 


Madrid 


BotaoMex: 59X39 
PrevtoM 58421 


Thai Akwan 
Thai Rum Bk F 
Uld Carom 


_99 105 9740 

1X75 29 2975 

45 45 45 

101 HI! 101 

111 112 116 


Helsinki 


H EX Seatra! Mac 324X59 
Prartm 338578 


London 


FT-SE ISO; 490X90 
PrevtaOK 484X20 


Bombay 


SmaailwMcwiX*! 
PreWoos: 399574 


BoW Auto 
Hhiakj Lever 
IfindwIPtDW 
Ind Dev Bk 
ITC 

AWxnoaarTel 


State BkbnSa 

Sled AuOwrity 

Tata Engines 


520 55375 813 

1420 1421X01 41 375 
445 42X25 48X75 
10575 106 10675 

556 573 55425 

269 26975 269 

34425 347,50 315 

28425 2M1 2B6JH 

1450 17 17-50 

35475 35775 355 


EnsoA 
HuMnmaklt 
Kejnlra 
fesko 
Merita A 
Metro B 
Metso- Stria B 
Neste 
Nokia A 
OriocKYhifiiiae 
Outokumpu A 
WfWKymtoerie 
Vetmet 


47 JO 47 JO 47 JO 4760 
285 200 200 208 

47 45J0 4580 47 

6960 «V 6960 69.90 
22 21.38 2160 22 

153 151 152 153 

45 44 44-50 4470 

137-90 136.10 13650 136 

445 434 434 43760 

172 166 170 172 

87 8550 8650 88 

13550 m 13X40 133 

• 79 7610 7X40 7X90 


Hong Kong 


HamSam 1443X65 
PrevtOK 1447X46 


Brussels 


BEL-20 hMhnt: 2341 JO 

PnttWK 2315J2 


CamarPadHe 
OwongKtmg 
CKInhashud 
Ohio ‘ ■ 


Baalnd 

BBL 

CBR 

Colniyt 

MmueUan 


Forth AG 

mr 

GenBanqu* 

Kretfldho nfc 

Pcteflno 

nmNaifn 

rWlmn 

Rente Brin 
SKGaiBdg 
5ot*ay 


1620 1610 
7360 7280 
9440 9300 
3189 3KX? 
17725 169S0 
1710 1660 
7460 7390 

3450 3360 
7050 £910 

£55 

5750 5630 
1*450 14125 
14175 13950 
14000 

«10 4885 
W50 9300 
3200 3130 
.2110 2055 
14800 14700 
119050 115700 


1610 1590 
7330 7300 
9400 9170 
3! 75 3100 
17650 16950 
1710 1660 

74SJ 7400 
3365 34» 
£910 6960 
3175 3170 

5720 5400 

14200 14173 
14175 13850 
13900 ■ 73700 
4885 4895 

Moo <?m 
3)55 3120 
2100 2070 
14775 14725 
117300 117550 


7S5 

2m 

13 

OMvngKsng 8&JD 

' 2X70 

4X10 
4170 
3930 

m 

Hang Long Dev 1460 

HSS5M w 

HandncnnLd 
HKCWBCas 
HKEJedric 
HKTttmnm 17J0 
HupmwOHOiB A9S 


aeassr 

HufchbonWhB 


Nwt Wor^Dev 
Oriental Prau| 
PcariGrieniitl 
SHR Pitta. I 
Shun TWHSas 


I 235 
7U5 
2X90 
Hdg 2025 


Copenhagen 


BK* Mac 60X34 

Pierian «U4 


StnoLandCo. 

SthOtaoPori 

Striror 

Wharf 


» 1X80 

dDev 4X70 

267 

uz 
9335 
Hdgi 5J0 


78S 78S 

2765 2785 
12J5 1X65 
85 aus 
2280 2170 
4260 4X60 
44J0 4460 
3X10 3X30 
7.95 7.95 

1485 14J0 
« 905. 
8 JO 830 
65 65 

15.60 1565 
2X50 2X50 
17 1730 
4.72 4J8 

230 231 

72 7X7S 
nw n*x 
2023 2035 
1X75 1U3 
48 4X50 
280 263 
136 137 
9135 9235 
465 585 

7.15 730 

630 6J0 
61 JO 62 
27 JO 27 JO , 
1620 16.55 ' 


AWerMafl 8J6 

Allied Dometu 4.71 

Anglian Water 8 

Aipos 

Asda Group 1J7 

Awoc BrHxXh 522 

BAA 564 

Baidofne I4J0 

Bait 8J2 

BAT Ind 530 

Bank Scrttand 437 

BtareQide U7 

BOC Group 1062 

Boats X22 

BPBlnd la 

Blit Aemp 1X75 

BAAbwan 689 

BG X72 

Bril Land S.90 

Bf* Petal X74 


Bf#5IM 
Bit Telecam 
BTR 

BtmnM Cariw 1068. 

Burton Gp 1J0 

CBble WMess ITS 

CaAHnr5dn> 5.72 

Carton cowsm il5 

Comtnl Onion 742 

6 


XS5 X57 X45 

458 4J1 4J9 

792 7.99 7J8 
6J7 AJ8 648 
144 1.47 145 

X14 531 516 

54S 563 S4S 

>421 1446 1426 
X25 831 X2B 
512 S.19 5.18 

429 435 429 

157 185 3JS 

1065 1061 10J3 
X1S 830 X14 

3J7 160 3JP 

1525 1570 1X13 
669 687 6J7 
244 170 166 

X83 589 Sfll 

863 m m 
447 458 461 

l.« 1.73 137 

189 1W 190 
2JB 2J6 2J1 

HJJ7 1065 1066 
1.18 1.18 131 

5.H 533 530 


Acermai 

ACESA 

Agues Breticton 

Aroentario 

BEV 

Bones to 

Bwiklnter 

BcoCcfrfro Kbp 

Bcq Popular 

Be© Santander 

CEPSA 

Coiteienle 

CrarpMrerire 

Endesa 

FECSA 

Cos Natural 

ihcntrolo 

Pryoo 

Repsal 

Smlltam Elec 
Tabocofcra 
TeUtaidai 
Union Fenom 
Vaienc Cement 


74840 24470 
1935 l«O0 
S*^J 5550 
7300 7700 

4195 4095 

1*45 1450 

7930 7900 

588) 5810 

8790 87BO 
4510 4420 

4425 4410 

2895 2840 

8300 8330 

3100 3045 

1225 1200 

7270 7090 

1775 1750 

2690 2W0 

6130 4070 

1365 1355 

9190 8380 
4245 4170 

1225 1220 

2820 2830 


mnre snog A 
Mycarned A 
Orida Asa A 
Petlm GcaSvc 
Saga Peftn A 
ScMbsied 
Transocean 0« 
Sterebrund Asa 


123 126 1 26JQ 

l 193 194 194 

24J0 2440 24.70 
79 JO 2960 29.ri> 
12730 12X50 124 

49 44 44 

S 401 JO 398 50 

430J0 47750 
745 248 250 

160 l6l ItfJQ 

577 577 580 

462 463 458 

146 )47 150 

116J0 117 120 

690 690 690 

53 54 S3 


DB5 foreign 
DBS Lom 


Fnrjeri Hoove 9 JO 


HK Land • 120 

JaidMathesn' 7.95 
Jam strategic ■ 168 

KeppetA 
Kewwl Bank 
Keppel Fds 


KepoelLond 414 
OCBCtarel"" " 


cACdhima 

Previous: 213407 


Mur 

AlrUawte 
AlcoM Alstti 


Manila 


PSE Index; 212U0 

PimtaH.-ZI4t.65 


Alcatel Alsth 

Axn-UAP 

Baacairc 

BIC 

BNP 

Canal Plus 
Candour 
O nlno 
CCF 

Cetetem 

CtKishonDtar 

CLT-Oeud Fran 

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930 930 920 

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APJ5 £60 662 

413000 413000 413000 
785000 286500 287000 
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749 755 7S5 

650 657 658 

973 97X84 995 

sur ut mss 

305 385 386 

407 409J7 414 


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Astro Ml 
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GvtangGam 


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3g5 37W 3725 3700 

1000 9S0 1000 950 

1050 1000 1000 975 

9200 907S 9075 9100 
2475 105 2425 2450 

3875 3475 3675 3875 

7635 7550 7600 7500 
?<» 7225 7225 73S0 
3250 3150 3150 3100 
3450 3350 342S 3350 


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1.72 

GertlAcddenl 9Ja 

GEC 190 

GKN 1X68 

Gtan WeflanM 1X77 

Granada Gp B 

Grand Met £80 

GRE IBS 

GretnoHGp 463 

Gehmas 5.60 

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ta _ lwu 

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KbnHdier 7.75 

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LaonVtorth' 113 

MtttjSpeiKW 5J7 

MEPC 467 

Mercury Asset 1246 

Nattand Grid 276 

Natl Power 
Namess 


573 

AMtaUlM 

17 

16JS 

17 

17 J5 

5J7 

B* Philip tsl 

116 

112 

114 

116 

742 

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415 

3M 

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5.92 

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777 JO 37X50 

375 

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160 

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527 

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890 

880 

893 

875 

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57 JO 

5X50 

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445 

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6.40 

6.10 

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6*40 


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1178 1185 1190 

120 1177 1142 

7» B 7.9S 

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176 184 278 

4J0 A3 *A\ 

X53 £57 . 5J4 

640 634 645 


Mexico 


Botsatadax: 4865.17 
ftMws: 4842*9 


9.94 Ittffl 9.94 

WO 1C 188 

743 7.73 7.60 

255 2jr> IJ6 

8J3 X99 X93 

160 Z62 241 

441 447 446 

6JT 7^1 7.16 

205 2(3 108 

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443 466 470 

1X29 1235 1233 

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545 £80 544 

l& 151 X43 


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Cemex CPU 
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Gpa Corea Ai 

GnaFBamer 

Cm Fin Infauna 

jwmbtiwkMe* 

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39.10 39.10 39.15 
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3100 3100 23X8 
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IBS* 1X04 1X24 


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Gen. Eaux 

Havas 

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LnforiW 

Lrqrand 

L-Oreal 

LVMH 

MiehritaB 

PataotA 

Pernod Rlcara 

Peugeoiat 

Prautt-PrM 

Promotlas 

fietwrii 

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Wv Poulenc A 
Sanafl 
S cfinrtJrr 
SEB 

SGSThomsan 
SteGenerole 
Sodcdto 
SI Gohcln 
SueKOel 
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234 227.20 Z3I.AI 230.10 
910 890 904 89* 

810 7B3 807 773 

387.90 38220 386.90 384.10 

715 698 W5 697 

413 40X10 404 400 

287.70 281 80 2B4J0 780 JO 
1835 1033 IflSJ I03J 

3469 33« 345* 33ZV 

N.T. N.T. N.T. 332.10 
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601 59l 596 580 

825 810 814 815 

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835 814 83S 812 

785 741 784 7SB 

til m n bio 

8J5 X10 X25 BJ0 

645 6J0 645 *35 

724 705 722 704 

39X90 390 39X90 394 

845 821 845 830 

440 429.10 438.10 427 

1230 114* 1204 1164 

2191 2113 2191 2113 

1275 1244 1275 1226 

348 m,S9 343 331 JO 

419 417.50 417 412.10 

306 29j 306 204 

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2578 2S21 2570 2S35 

2137 2058 2090 2064 

178 173JO 175 17X80 

1635 1593 1535 7595 

229.90 225.60 229 A0 227 

581 545 581 564 

330 344JD OTJ0 


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Sembawcmg 6JS 

SJno AJrtemgn TX«j 

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10.20 10J0 1030 
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9.10 9.15 9.10 

114 116 312 

7.90 7.95 780 

150 358 3.60 

£90 A £95 
126 12* 124 

4.22 4JB 4.20 
192 192 4.10 

II JO 11 JO 11 JO 
7.25 7 JO 7.20 

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£40 6.48 6J5 

12.40 1X70 1280 
7.15 7J5 7.10 

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122 X22 ZJI 

283 284 283 

1.02 184 182 

12 12 1X40 


Pub Broadcast X45 £35 845 X30 

Rto Tlffl» 30MI 2030 2035 2037 

51 George Bank 8.25 £12 £20 £06 

WMC £70 633 6J6 680 


WeslpacBklng £27 £12 X36 £10 
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Thomson 

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Taipei 


Cathay Lite ins 


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Trimaik Rnl 

TnzecHatw? 

TVXGata 

WestcoaslEny 

Weston 


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Chian Tung 8* 
CWiM Deveiptni 
China Steel 
Fust Bonk 
Formosa Ptasfic 
Hua Non Bk 
tail Comm Bh 
Nan ra Masses 
Slttn Kang Life 
Taiwan Send 


140 3-42 140 


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Utd Micro Elec 
Vtd World Chin 


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29J0 2X 50 28 JO 28-50 

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32J0 32 Vj 
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2685 2660 
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2X30 2X20 
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Stockholm 


AGAB 
ABBA 
Asti Demon 
Astro A 
Ados COPCO A 
AutaUv 

Etedrohu B 
Ericsson B 
HetmesB 
Incentive A 
Investor B 
Mo Do B 

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PhomVUptohn 

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Scania B 
SCAB 

S-E BankmA 
Stamina Fan 

SP?“ B 

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Previous: 3301 J2 


Toronto 


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106J0 107 JO .106 

228 23X50 228 

130 134 IX 

244 ?49 247 

71X50 31X50 313 JO 
575 580 575 

332 i*4«t 3X 
324 329 JO 321 JO 
697 697 700 

391 394M 392JB 
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830 817 875 B23 

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Sydney 


MIB TcteSMttCtt 1487780 
Provides: 1*37580 


AOereaa Aua 
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Be* Fideurom 

Beats Rama 
Benetton 
CrediJo ItaWfio 


16150 1548 16050 15150 
4700 4633 4700 4605 
6360 6000 6360 *040 
1645 1578 1640 1541 

77500 26950 27500 26700 
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CBA 

CCAmaft 
Coles Myer 
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Pacific Dunlop 
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INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 


Org. | n£"i£ w w. TO re t£tw' u- u*bi Ogr| a** "i w « u» im o»| hJT? Uta 


PAGE 19 


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Groupe Paribas 



■ • 'i 


Global growth 






First-half results 
in FRF millions 


FRF 38.4 

Net income 
per share 


8.7% 

BIS ratio for 
Tier One capital 


Net income : FRF 4.2 billion* 


{-Iroupe Paribas recorded growth in net income excluding minority interests of 
^“"FRF 4.2 billion for the six months ended June 30, 1997, compared with FRF 4 billion 
Tor the same period in 1996. 

Groupe Paribas is now clearly focused on its two core businesses, International investment 
banking and Specialized financial services, after completing the disposal of Its retail banking 
activities (Banque Cononentale du Luxembourg, Banque Ottomane, Credit du Word, 
Paribas Belgique, Paribas Holland e, Paribas Padfique and Paribas Polyn&ie). 

If the retail hanking activities which have already been, or are in the process of being, 
divested, are excluded, net income increased by 13% to reach FRF 3.4 billion in the first 
half ofl 997. 

Paribas' financial structure has been reinforced with a BIS ratio for Tier One capital now 
standing at 8.7%.The estimated net asset value of Groupe Paribas totalled FRF 59.9 billion 
at June 30, or FRF 545 per share. 

International investment bank 

Banque Paribas: return on equity from operations of 15%. 

Banque Paribas’ revenues have grown by 17%, with net income of FRF 1.2 billion. At the 
same time, the Bank has continued to reinforce its teams of specialized personnel to ensure 
its future development. 

Paribas Affaires Industxiefles; recurrent nature of its Income confirmed. 

The contribution from PA1 to net income equals FRF 1.8 billion. The reserve 
of unrealized capital gains stands at FRF 14.4 billion, representing an increase of 34.6% 
since December 31, 1996. 

Specialized financial services 

Gompagnie Bancaire a return on equity of 10%, in fine with 1997 objectives. 

Operating activities have continued to grow with net income amounting to FRF 588 million. 


1S95 199tj 1997 

Unrealized capital gains 
in FAF biJJions 


* U5S 719.25 mlB ton 

(as of exchange me June 30, 1997] 


/groupe Paribas is actively pursuing its strategy of sperializaiwn in high-growth business 
^tg gmwin and continuing its investment programs to ensure the future development 
of its activities. 

In each of its different business sectors, Groupe Panbas has set itself the goal of ranking 
among the 10 leading banks worldwide by the year 2000. Its aim is to provide its 
shareholders with a regular, high return on equity (15%) and steady growth in income. 


,PARiBA5T^VE^5R;RTLAXl0:^iTj 


3, rue d'Arrtfn, 75002 Paris 331 42987746 I Internet ■Jittp-J/wvwv.paribas.eom 








































t 


I 


L 


World Roundup 


Fittipaldi Walks Oat 
Of Miami Hospital 


Patriots Spoil Return 
Of Parcells, 27-24 


motor racing Emerson Fjtnp-; 
aldi was released from * Miami 
hospital three days after bacfcsur- 
gery, and the champion driver 
beaded to his Florida home for a 
long recovery. . . . . 

“He walked out of the hospital 
with only the assistance of a cane, 
said a hospital spokeswoman, 
Fernanda Oliveira. ‘/He’s at home 
resting with his family. " 

Fittipaldi, 50, was discharged 
Sunday from Jackson Memorial 


Jets Miss Victory on Blocked Kick 


Hospital following surgery to re- 
build a section of his lower back 
that shattered when his ultralight 
plane crashed near his ranch in 
Brazil on Sept. 7. ... 

His left leg was paralyzed in the 
crash, but be gradually regained 
mobility and feeling before sur- 

ge $ttipaldi, who has a home on 
Key Biscayne, will have to wear a 
plastic body brace for six months, 
and his surgeons have advised 
against “high-velocity activities" 
for a year. 

Fittipaldi woo the Formula One 
drivexsrchampionship in 1972 and 
1ST74 and the Indianapolis 500 in 
1989 and 1993. (AP) 


New York Tuna Service 

FOXBORO, Massachusetts — The 
Patriots captured the game that captured 
the fancy of New England, but the vic- 
tory didn’t come easily, or even in a 
timely fashion. In a dramatic game that 
ricocheted into overtime, the Patriots 
prevailed. 27-24, when Adam Vinatiexi 
kicked a 34-yard field goal. 

It was a disappointing finish for the 
coach of the New York Jets, Bill Par- 
cells, who returned to New England to 
face the team he guided to the Super 
Bowl last season. His team had sur- 
prised the Patriots and a shocked crowd 
of 60,072 at Foxboro Stadium by tying 
the score in the final minute of the fourth 
quarter Sunday night 

The Jets tied the score in regulation 
on Keysbawn Johnson's falling end- 
zone catch of a Neil O'Donnell pass 


with ooly 31 seconds remaining. Stun- 
ningly, they got tire ball back when the 


Stembraonerand Wells 


ningly, they got the ball back when the 
Patriots fumbled the ensuing kickoff, 
only to see rookie John Hall’s 30-yard 
field goal attempt blocked. 

Vinatieri’s v anning kick came at 8 
minutes 3 seconds of overtime after the 
Jets failed to capitalize on an inter- 
ception and were forced to punt. 


Nearly Come to Blows 


baseball A New York Yan- 
kees pitcher, David Wells, 
threatened to knock out the team’s 
owner, George Stein brenner, dur- 
ing a clubhouse argument two 
weeks ago, according to a pub- 
lished report 

The altercation occurred on Aug. 
30, according to The Record of 
Hackensack. New Jersey. 

The dispute reportedly began 
after Wells was pulled from a game 
against Montreal In thar Yankee 
loss, Darrin Fletcher of the Expos 
wound up with a home run when a 
fan in right field reached over die 
wall and grabbed the ball before 
Paul O'Neill, a New York outfield- 
er, had a chance to catch it 

Wells suggested to Steinbrenner 
that extra security be added in right 
field, and the owner responded by 
telling the left-hander that he 
should instead worry about his 
pitching. 

Weils is 0-5 with a 7.71 eamed- 
run average over the past month. 

The discussion turned into an 
argument, with Wells saying that 
Stembrenner could trade him if he 
wasn’t satisfied. Steinbrenner re- 
sponded that no one wanted Wells. 
At that point, Wells threatened to 
knock out Steinbrenner. 

"Go ahead, do it Try it You 
think I’m afraid of you?” Stein- 
brenner answered, according to the 
paper. Wells and Steinbrenner then 


apparently stared at each other for 
awhile before calming down. (AP) 


Welsh Players Arrested 


RUGBY whom Three Welsh 
rugby union players were arrested 
and placed under investigation for 
allegedly starting a fight in which 
three French internationals were in- 
jured after a European Cup game on 
Sunday between Pontypridd and 
Brive. 


In other games , reported by The As- 
sociated Press : 

Ravens 24, Giants 23 Baltimore, 4-12 
last year and 0-8 on the road, won at 
Giants Stadium on Matt Stover’s 37- 
yard field goal with 34 seconds left. 

The Ravens (2-1) took advantage of a 
missed extra point and two missed 41- 
yard field-goal attempts by New York's 
Brad Daluiso. Vinny Testa verde threw 
two touchdown passes for the Ravens. 

Itailitrim 19, Cardinals 13, Michael 
Westbrook’s fallaway, 40-yard touch- 
down catch 1:36 into overtime gave 
Washington a victory in the inaugural 
game at Jack Kent Cooke Stadium. 

Westbrook, who caught only one 
pass in the first two games following his 
demotion from the starting lineup for 
beating up teammate Stephen Davis at 
preseason practice, also had a 5-yard 
touchdown catch in the second quarter. 

Chisffs 22, Bills is Elvis Grbac put 
Kansas City ahead with a 1-yard scoring 
pass to Tony Richardson with 6:55 left, 
and the Chiefs stopped Buffalo on four 
plays inside the 10 in - the final 
seconds. 

The Bills drove from their 33 to a first 
down at the Chiefs 7 with 27 seconds 
left But Todd Collins' pass on fourth 
down was intercepted by Mark Mc- 
Miiiian in Che end zone. 

49ars 33, Saints 7 Steve Young, side- 
lined last week because of his third 
concussion in his last 10 regular-season 
games, threw three touchdown passes, 
and comerback Rod Woodson inter- 
cepted three passes and recovered a 
fumble in San Francisco’s rout. 

The visiting Saints (0-3) turned the 
ball over eight times, and coach Mike 
Ditka finally pul in a rookie, Danny 
Wnerffel. to replace quarterback Heath 
Shuler, who has eight interceptions and 
no touchdown passes this season. 

Broncos 35, Rams 14 John Elway 

moved into sixth place in career NFL 
touchdown passes with 257 by throwing 


four in Denver’s rotnp over visiting Sl 
Louis. 

Two of the passes were to Rod Smith 
for 72 and 38 yards, and Darrien Gordon 
returned a punt 94 yards for another 
score. 

Terrell Davis had bis third straight 
100-yard rushing game for the Broncos, 
gaining 103 yards on 21 carries as they 
won by the same score, 35-14, for the 
second straight week. 

p m Bi w as, charows 7 Carolina 
welcomed back quarterback Kerry 
Collins and wrecked the home debut of 
tiie San. Diego coach. Kevin Giibride. 

Collins, playing for the first time 
since his jaw was broken in an ex- 
hibition game on Aug. 9, threw two 
touchdown passes to tight end Wesley 
Walls. John Kasay bad four field 
goals. 

Seahawka3i , Colts 3 At Indianapolis. 
Warren Moon, at 40 the oldest player in 
the league, passed for 270 yards and a 
touchdown in Seattle’s first victory of 
the season. 

Moon was 24 for 38, set up a first- 
quarter touchdown run by Lamar Smith 
and even ran for a touchdown himself, 
his first in four years. 

B ucc ane e r* 26, Tarings 14 In a game 

featuring the only two teams in the 
National Conference without a loss, 
Tampa Bay improved to 3-0 for the first 
time since 1979. when it won its first 
five games en route to the NFC Cham- 
pionship game. 

Horace Copeland caught his first 
touchdown pass since 1995 and set up 
another score with a 49-yaid reception 
for die Buccaneers, who are 2-0 away 
from home after going 1-7 on the road 
last year. 

Rookie Warrick Dunn rushed for 101 
yards and scored on a 52-yard run in the 
fourth quarter for the B ucs, who were 6- 
10 last year. 

Packers 23, Dolphins 18 Brett Favre 
threw two touchdown passes, and 
Dorsey Levens had a career-high 121 
yards rushing as Green Bay (2-1) 
bounced back from a loss at Phil- 
adelphia by winning at home. 

Ryan Longwell, who missed a chip- 
shot field goal in the final seconds that 
would have beaten the Eagles, hit all 
three of his attempts to counter four 
from Miami's Otindo Mare. 

lions 32 , Bears 7 Barry Sanders, held 
to 53 yards in the season's first two 
games, rushed for 161, and Scon 
Mitchell had two touchdown passes for 
Detroit 

Chicago fell to 0-3 for the first time 
since 1969 and also lost Rasbaan Sa- 
laam, a l ,000-yard rusher in 1995, for 


the season with a broken right leg. 

Raiders 36, Falcons 31 Jeff Gt 


Raiders 36, Falcons 31 Jeff George, 
released by Atlanta a year ago after a 
sideline tantrum, threw a 76-yard pass 
that set up Cole Ford’s tie-breaking field 
goal with 4:24 remaining as the Raiders 
defeated the Falcons in Atlanta. 

George played a minor role for most 
of the game. Napoleon Kaufman had 
two long touchdown runs for the Raid- 
ers (1-2). and Atlanta’s second-string 
quarterback. Billy Joe Tolliver, threw a 
6-yard scoring pass to Terance Mathis 
to tie it at 31 with 7:17 remaining. 
George was 12 of 22 passes for 286 
yards, including a 51 -yard touchdown. 


Piccoli Takes Vuelta Stage 

me nnH PViil Tnhn uinnIH fiuv I L— / 


liams and Phil John would face 
charges of two months to two years 
in prison and heavy fines, French 
ponce said on Monday. 

The fight erupted after the 
Welshmen entered a bar in Brive in 


which opposing players were cel- 
ebrating their 32-31 victory in a 
tense match. 

The French Rugby Union Fed- 
eration’ s president, Bernard Lapas- 
set, asked the European Cup dis- 
cipline committee to ban 
Pontypridd and the players from the 
competition. (Reuters) 


Reuters 

ALMENDRALEJO, Spain — 
Mariano Piccoli of Italy pinned down 
his first triumph of the year in the 
Vuelta on Monday, taking the 10th 
stage after missing out on a victory 
two days ago. 

He shook off Juan Vicario of Spain 
about 150 meters from the line after 
they had shared the lead for ISO ki- 
lometers of the 224.5-kiioineter t 1 39- 
mile) leg from Cordoba. 

Jan Svorada of the Czech Republic 
was third. 25 seconds behind, beading 


the main pack that contained the 
race's overall leader, Alex ZueJIe of 
Switzerland. 

Piccoli, riding in his first Tour of 
Spain, missed out Saturday when he 
was the driving force behind a long 
breakaway that took 10 men clear on 
the road from Granada. Yet when it 
came to a two-man showdown for the 
victory, he lost to a Dutchman. Bart 
Voskarap, at Cordoba. 

“I have been trying all year, and 
now I have made it,” said Piccoli 
after the stage Monday. 


CROSSWORD 


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One Memorable Housewarming 


Washington Post Serv ice 

O LD HOMES, even when the 
paint is peeling, are warm with 
memories. New homes, no mat- 
ter how grand, are chilly from their lack 
of history. Gradually, you take pos- 
session of the new place not with your 
mortgage payments but with your ex- 
periences there. Everything that hap- 
pens, good and bad, makes it home. 

Of course, good is better. Much bet- 
ter. Especially if you arc the Wash- 
ington Redskins and the new bouse be- 
ing opened is Jack Kent Cooke 
Stadium- 

Thanks to Michael Westbrook and 
Gus Frerotte, the Redskins and their 
fans — including thousands who never 
had season tickets before — now have a 


Pro Football/TnoMAS Boswm 


bar — JKC Stadium actually felt for a 
moment like a deflated and perhaps 
unlucky place to play. 

Now, all those spooky fears can be 
laid to rest. As far as the Redskins are 
concerned. The Big Jack can erupt just 
as loudly as old RFK. And the crucial 
luck — residue no doubt of George 
Allen and Joe Gibbs's design, which 
helped the Redskins on East Capitol 
Street — has now made its way to 
Landover, Maryland. 


On the third play of overtime, Ari- 
na's Lee land McElrov may or may 


thrilling memory of victory in overtime 
that they can share. That 19-13 victory 


zona's Lee land McElroy may or may 
not have fumbled when he was stripped 
as he hit the ground by rookie Kenarri 


that they can share. That 19-13 victory 
over the Arizona Cardinals — and es- 
pecially the electrifying 40=syard touch- 
down bomb-off a-scrambie that ended h- 
— is a dramatic start toward making 
The Big Jack a real Redskins home, not 
just a $180 million conversation piece. 

For much of Sunday's balmy after- 
noon. Cooke Stadium was still a chilly 
and distant place, full of confusing en- 
trances and exits, new sounds and the 
absence of old sights. Both the Redskins 
and their 78,270 fans seemed disor- 
iented and. at times, even a bit numb. It 
was like a first visit to a very fancy 
restaurant You’re too busy watching 
your manners to enjoy the steak. 

A few thousand expensive yellow 
seats stood starkly empty throughout the 
game — no sellout for this opener. 

Even in the closing minutes of die 
fourth quarter, as the Redskins drove for 
a field goal that gave them a 13-10 lead, 
the place was so quiet you wondered if 
something vital had been lost in the 
move from intimate, noisy RFK Sta- 
dium where so many championships 
were won. 

Three rimes the Redskins ran the ball 
into the line from the Arizona 1-yard 
line. Each ti me they got jammed. W ould 
that have happened if the old RFK Sta- 
dium were swaying and rocking? 

With the game on the line, about 
20.000 seals were empty. And those 
who stayed seemed more curious than 
passionate about the outcome. When 
Kevin Butler lied the game. 13-13, with 
two seconds to play on a 47-yard field 
goal — which easily cleared the cross- 


Lang. Even on replay, it was as close a 
nJav as a same could turn on. It was the 


play as a game could turn on. It was the 
definition of. a Big Break. And the refs 
called ft“Wa^hingtbn’s way. “Nothing, 
wrong with-starting out with some luck 


in this place,” said the veteran Brian 
Mitchell - - 


MitchelL - - 

Just because you open the gates 
doesn’t mean a new palace of sport has 
been christened. For that to happen. 
100,000 anas have to shoot to ware the 
sky in unison. Every voice in the joint 
has to scream. The home team has to 

S on the hero, even scare him half to 
with its wild celebration in the end 
zone. And the winners must race down 
the tunnel to their locker room, pumping 
their fists over their heads as the crowd 
watches the replay of the game-winning 
play on two enormous crystal-clear 
jumbo scoreboards. 

Cooke Stadium now has that house- 
warming moment, because of West- 
brook and Frerotte. Two plays after the 
fumble recovery, the pair hooked up for 
their second touchdown pass of the day. 
Coach Norv Turner raced to bug West- 
brook in the end zone. ”1 said 
something like, * * Aaarrgb! ’ ’ ’ said 
Turner. “And be went, “Aaarrgh!’ 
back.” 

TTiat's what the crowd yelled, too, 
when it got to see Westbrook’s back- 
ward diving catch ail over again thanks 
to JKC’s state-of-the-art replay sys- 
tem. 

Once you decide to move to a new 
home, you also have to move emo- 
tionally. It does no good to remember 
everything you foved about the old 
place. Most of all. it does no good to 


C ? - dfreeftSons: 

more spacious, modemhome. To. 
let 25,000 more fltns attend each game. 
And, thanks to sky suites, to make sure 


his franchise makes a lot more money in-- 
the next century than it did in the lasC. 
one. Jack’s three for three. . ■* 

“Compared to RFK, this is not one 
step better,” Mitchell said. /‘It’s 10- 
steps above.” . r 

The end of this day brought the propt- 
er images. The team's president, John’ 
Kent Cooke, gave his club an emotional 
“thank you" on behalf of his late father^ 
The team gave him a game ball!; 
Frerotte, asked if he felt the spirit of th& 
dynamic old Cooke in this new stadium 
said, “He was id every seat.” 

New houses only succeed if they pre- 
serve what was best from the old horned 
As the crowds headed to parking lots- 
last evening, Billy Kilmer, Sonny Jur-* 
gensen and Len Hauss were in their cars; 


about to head home. "There’s Biliyf 
There's Jurgy! There’s Hauss,” beli 


lowed the middle-aged men as they* 
broke into a run, frying to catch their] 
heroes. 

Someday, when Cooke Stadium isf 
old and oteoiete. perhaps there 'U be si 
new Opening Day somewhere else. And 
fans, now still young, may chase WesN 
brook and Frerotte. gray and moving 
slow, through another parking lot. Tra- 
dition, at its best, is a circle. 

And. no matter where you go, voti 
never really leave the loop. ' . 


A Corporal Steps Down, Baton Intact 


By Samuel Abt 

International Herald Tribune 


PARIS — Hoping to inspire his troops 
to boldness. Napoleon declared that 
every corporal carries a field marshal’s 
baton in his knapsack. Be brave, seize 
the moment, anack — the emperor’s 
maxim is still taught in French schools. 

Francois Lemarchand, a corporal 
throughout his long career as a bicycle 
racer, carried that baton once himself. In 
the French championships last year, he 
and a rival, Laurent Roux, were far 
ahead of the chasing pack and nearing 
the finish line in a drizzle. As they 
turned one of the final comers, 
Lemarchand’s bicycle slid out from un- 
der him on the slick road and he crashed 
into a wall. Dazed, he slowly remounted 
his bicycle and finished 11th. 

“I was confident," he said afterward. 
“1 thought if it came to a sprint, it would 
be 50-50 at worst. I imagined myself 
champion of France." 

“My biggest disappointment?" 
Lemarchand said the other day, repeat- 
ing a question. “Now, yes. Last year, 
yes. but now even more.'* 

By that, he meant that he will noi have 
another chance. After 13 years as a 
professional, Lemarchand will retire 
this month at the age of 37. the oldest 
man in the French pack. His last com- 
petition will be the Grand Prix d'ls- 
bergues, a second-level race in the north 
of France, on Sunday. 

“Isbergues and Lhen it's all over.” 
the native of Normandy said on the 


phone. “A few criteriums after, but 
..." What do criteriums — exhibition 
races — matter to a rider who started 
and finished 10 Tours de France and 
who believed that he could be the 
French national champion? 

‘ * I’m always asked what I think of my 

career and that’s a dark patch.” he said 
of the crash. "And now ii won’t come 
knocking again.” He laughed softly. 
“Not at all." 

”1 had the same thing happen in the 
Tour dc France a few years ago, getting 
caught 50 meteis from the finish. Those 
are big disappointments, the two 


biggesL If I could have pulled off those 
victories, 1 might have had another ca- 
reer. Win a Tour stage, the French 
champion — after that, well, you can 
talk, you know." 

He has been a team rider, a corporal 
taking orders from such generals as 
Stephen Roche, Greg LeMond and 
Chris Boardman. Typically, he said that 
his biggest thrill in the sport was helping 
LeMond win the Tour de France in 
1990. 

“Bringing the yellow jersey to Par- 
is.” he said. “And to be in the spotlight 
when the team rode a lap of honor on the 
Champs- Ely sees. Ifs exceptional.” 

“And my other great pride is to have 
Finished 10 Tours out of 10. 1 never gave 
up. 1 don’t think there are many who can 
say that." Roche, LeMond and Board- 
man all stopped in the Tour at least once, 
he was reminded. "Exactly," he 
replied. “Stopped. Exactly." 

In addition to his 10 Tours de France. 


faive beento finish 

"A have! 

Tm not a ntfer who’s dropped o.,t J 

many races,’ the ironman sak^W 0f ! 
II s aim*.! impossible for me 10 


Michael Westbrook of the Redskins falling to the ground with the touchdown pass that beat the Cardinal^ 


crab about what's wrong with the uewj 
digs. Redskins fans may need to re-< 
member that when architecture buffs! 
take shots at The Jack — especially after; 
the Ravens' classy new S230 million' 
stadium opens in Baltimore. * 

So what if, on the outside, Cooke; 
Stadium looks like a space ship from a- 
boring planet. Who cares if, on the in-! 
side, it’s starkly utilitarian. Who paid; 
for it. baby? Thai’s the question. 

Was it taxpayers, as with the Ravens?] 
Or was it the Squire? When somebody: 
erects a new house at his own expense/ 
then invites you over,- you don't oitpick* 
about the drapes. You say exactly wh 
several hand-painted signs said there, 
Sunday aftemobnr- ‘ Thanks, Jack.’ ’ 


he completed both of the Giros d'ltalia 
and both Vueltas a Espana that he 
entered. ' 

Lemarchand, who rides for the Gam 
team from France, does not expect a- 
Hollywood ending to his career in Is-; 
bergues. No. he won’t win. "The phys- ; 
ical side isn’t super." he said, referring - 
to an operation for a saddle sore in June 
that kept him from riding in the Tour “I 
didn't ride for a month. No competition" 

■ 1 montn. »t’s not possible to stay ar' 

the highest level." 7 

His motivation is down too, he ad • 
mined. ‘ ‘Knowing (hat fm stopping that > 
makes a difference. The minute i 
the decision to stop. I pulled the plue r •' 

- B ? in 311 fte lime but since I made : 
the decision to stop, 1 can’t train.” *! 
"Still,' ’ he added, "I have the 'feeiimJ 

°L a - , °^ eU u done It s a Sood Page- No? 

everybody had this luck, those who 
work from age 20 in a factory. * ’ D ° 

Lemarchand is not quite sure what he 
will do once he hangs his bicycle in the 

garage. "F d like t0 stay in cycling " fa! ’ 
^cl^mj: : ,;^^ n0tforaiea m,ir§ 

Until then, there is his final race 
sbergues. "My only motivation.” he* 
said is io be at the start, to see 

bU "1vhm°i e u 0y w V**’ 5 ^biencei 
” hat I would have liked 

have been to finish while racing S}? /* 

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E, WEDNESDAY, SEPTEMBER 24, 1997 


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INTERNATIONAL HERALD TRIBUNE, TUESD AY, SEPTEMBER 1 6, 1997 

SPORTS 


PAGE 21 


Orioles 9 Davis: Sadder but Wiser 


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I T WAS a. Sunday afternoon when 
Shirley Frazier got the visit every 
parent fears. Frazier went to church 
that motoring. Church is her refuge, her 
haven, and she has needed it this sum- 
mer. 

» Every week, when the minister, Glen 
Kirby, asked the congregation for their 
special prayers, someone — a friend, a 
relative, a neighbor — would ask that 
they pray for Frazier’s son, Eric Davis, 
who was fighting colon cancer. 

1 And every Sunday, Frazier would 
hod her head at the gesture and add her 
voice to the chorus of “Amen." 

On this particular Sunday, though — 
on the Sunday of Labor Day weekend 
7- Davis was back with the Orioles, 
working out and showing few side ef- 
fects from his chemotherapy treatments. 
He was talking about beating cancer, 
about getting back to the business of 
baseball. And, across the country, in a 
small church in Southern California, his 
mother decided it was time to give 
thanks. 

; “I spoke up and prayed and praised 
God for allowing him to go back to 
baseball, for making him so strong,’’ 
Frazier said, her voice wavering as she 
recalled that morning. "And it was jast 
devastating when that very afternoon 
they brought me the news of Jimmy." 
i Her house was filled with guests, 
invited for a holiday barbecue, when the 
police officers came to the door and told 
Frazier that her other son, Eric’s big 
brother Jimmy, had died of a heart at- 
tack at 36. 

| Jimmy had never shown any signs of 
heart trouble. He lived with his mother, 
and be was the one who always told 
Frazier, “You eat too much pork! You 


Vantage Point/ Jennifer Fret 


eat too muchved meat! ’ * while he stood 
in the kitchen and cooked her a chicken 
breast, or some turkey, for dinn er This 
summer, when her blood pressure went 
np and she spent most of her time and 
energy worrying about Eric, it was 
Jimmy who worried about her. 

“She’s a blessing from God. that's 
what she is," Jimmy told a visitor one 
afternoon this past July. “Sometimes I 
think women are a lot stronger than men 
inalotofways.Iknow that she’s always 
been the backbone of this family." 

Frazier was Eric's backbone when be 
learned in June that he had a malignant 
tumor in his colon. She flew to Bal- 
timore almost immediately and was at 
his bedside when be awoke from sur- 
gery. In the following days, she moved 
into his apartment and fluffed his pil- 
lows, cooked his meals, held his hand 
while he recovered from both the op- 
eration and the shock of his diagnosis. 
She never cried in front of him. She 
never let him know she was scared. 

She was scared, though, just as any 
mother would be. Her “baby" — she 
still calls Eric that — is only 33 years 
old. He is a husband and father to two 
little girls. “I just pray that he can be 
strong, and get through this, and that 
he’ll be able to go back to baseball, ’’ sbe 
said earlier this summer. ‘ ‘That’s what I 
want for him." 

She got her wish. Davis will play for 
the Orioles this week — he said Sat- 
urday he planned to return either Mon- 
day or Tuesday — in what is certain to 
be an emotional game. When Brett But- 
ler returned from throat cancer to play 
center field for the Dodgers last season, 


he talked about how he hoped he could 
be an inspiration to other cancer suf- 
ferers, and he was one. 

Davis is trying not to look at his return 
that way. “I don’t want this to be an 
inspirational thin g,” he said last week. 
“I m looking at it as being able to do 
what I love to do.” 


mm . — - m w~ 


D AVIS LEARNED something 
valuable from his trials this sum- 
mer. He learned what so many 
athletes try to ignore: He is human, and 
no matter how many home runs he bits, 
he’s not going to be immune to life's 
misfortunes. He can be in perfect phys- 
ical condition, his body honed, and can- 
cer still can find a way to grow inside 
him. He can make millions of dollars, 
move his mother, his brother — his 
entire extended family — into a nice 
house in a nice neighborhood, and his 
brother can still wind up dying young. 

“It’s reality," Davis said. “Cancer is 
reality. Death is reality. I'm not any 
different than anyone else who deals 
with tragedy in their life." 

He is, and he isn't. Last Saturday, 
when the family buried Jimmy, Davis 
was just like anyone else mourning the 
death of a big brother. According to his 
mother, he gripped his sister tightly and 
tears rolled down his cheeks. “I looked at 
him," she said, "and I could see that he 
wanted so badly to be strong for me, but 
I could see he was in so much pain." 

But when he returns to the outfield at 
Camden Yards, whether he tries to, he 
will be an inspiration, because we live in 
a society that treats athletes as role mod- 
els, as examples for the rest of us. 





I -oiin Rcilrc/Krulvi* 

The Marlins’ second baseman Craig Counsel!, upended by the Giants' Stan Javier, completing the double play. 

Mariners Win, but Griffey’s Stuck 


Jamaica Advances in Regional Soccer Finals 


„ The Associated Press 

Jamaica, bidding to become the first 
Caribbean country to qualify for the 
r soccer World Cop, got a big boost with 
a 1-0 victory over Costa Rica that 
moved it ahead of the United States into 
, second place in the regional finals. 

Deon Burton scored 1 1 minutes into 
the second half Sunday at Kingston. 
Jamaica is unbeaten in 29 consecutive 
home games. 

“We have to get a point in each of 
our upcoming matches against the 
United Stales and El Salvador to feel 
secure,” Ae team's coach, Carl 
Brown, said. 

Three countries will advance to the 


, 32-nation tournament in France next 
summer from among the six teams in 
the final round of qualifying in the 
North and Central American and 
Caribbean region. 

Mexico (3-0-2) leads with 11 
points, ahead of Jamaica (3-2-2) on 

Woiip Cup OuAimm 

goal difference. The United States (2- 
1-3), which next plays against Jamaica 
on OcL 3 in Washington, is third with 
nine points. 

El Salvador (2-2-3) routed visiting 
Canada, 4-1, Sunday and trails the 
U.S. team on goal difference. Costa 


Rica (2-4-2) dropped into fifth place 
and is winless in four games, losing 
three. Canada (1-4-2) is last and needs 
victories in Mexico and Costa Rica, 
and at home against the U.S. team. 

As a result of the games Sunday, the 
earliest the United States could clinch 
one of the three berths is against 
Canada at Vancouver on Nov. 9. The 
Americans also play at Mexico on Nov. 
2 and finish against El Salvador on 
Nov. 16 at Foxboro, Massachusetts.. 

In Group B of the second round of 
Asian qualifying, Yousef TTmnaian 
scored off a controversial free lack in 
die 54th minute as Saudi Arabia won its 
opener, 2-1, over Kuwait at Riyadh. 


The Associated Press 

Jay Buhner hit a two-run homer in the 
eighth inning as the Seattle Mariners 
rallied past the Toronto Blue Jays. 3-2, 
to hold their 5^-game lead in the Amer- 
ican League West 

Ken Griffey Jr. failed to homer for the 
seventh straight game on Sunday to 
remain stuck at 50, but host Seattle cut 
its magic number for winning the AL 
West over Anaheim to eight. 

Angels 3, Royals 2 In Anaheim, Garret 
Anderson broke up Tim Belcher's no- 
hit bid with a seventh-inning double and 
drove in the winning ran with a sacrifice 
fly in the eighth. 

Indian* 8, White Sox 3 In Chicago, 
Sandy Alomar hit a bases- loaded single 
to key a bizarre seven-run eighth. 

Rod Sox 2 . Brewers i In Milwaukee, 
Nomar Garciaparra hit his 29th homer 
and Butch Henry (7-2) allowed six hits 
in seven innings. 

Twins 11 , Rangors 1 In Arlington, 
Texas, Todd Walker hit a three-run 
homer that highlighted a six-run first 
inning. 


Tigers 6, Athteties 5 Scott Sanders (6- 
12) won consecutive starts for the first 
time this season for visiting Detroit, and 
Bob Hamelin and Tony Clark 
homered. 

Yankees 8, Orioles 2 Bernie Williams 
had three hits and three RBls as visiting 
New York beat Baltimore. The Orioles' 

Baseball Boundur 

magic number to gain at least a wild- 
card spot remained at one. 

In the National League: 

Dodgers 4, Astras 3 In Houston, Mike 
Piazza singled home the winning run in 
the 1 0th inning, stopping the Dodgers' 
five-game losing streak. 

Rockies 4, Breves O Colorado won its 
15th in 17 games, completing a three- 
game sweep in Atlanta. Atlanta's NL 
East lead was cut to 416 games over 
second-place Florida. 

Hariins 5, Giants 4 In Miami, Kurt 
Abbott broke an eighth-inning tie with 
an swinging bunt in the eighth that 
rolled 10 feet for an RBI single. Pinch 


hitter Jim Eisenreich followed with a 
sacrifice fly for a 5-3 lead. 

Cubs 3, Pirates 2 In Pittsburgh, Mark 
Clark (13-7) gave up six hits in eight 
innings to win his sixth straight. 

Mats i , Expos o In New York, a ninth- 
inning collision ai home plate that led to 
three Montreal ejections overshadowed 
Dave Mlidti (8-1 1), who allowed seven 
hits in 834 shutout innings. 

Cardinals 10, Padres 4 Mark McG- 
wire hit his 51st homer, and host St 
Louis scored seven runs in the eighth. 

Rads 6, Phillies 4 Jon Nunnally had 
three hits and scored two runs for the 
visiting Reds. 


TO OUR READERS: 

Due to technical difficulties, 
some of the scores, standings and 
listings that typically appear in the 
Scoreboard section were not able to 
be published in today's editions. We 
apologize for the inconvenience. 




Lands 747 

l New Airport 


Scoreboard 


— A 
. _ '-T landed 

Lumpur 
r Serins. 

MjhJhE 

err.tr.in; 

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New Engtaid 

Artemi 

Buffalo 

N.Y.Jets 

Indfcmapofls 

Jteaonvflte 

Batfimom 

Cndromfi 

Pittsburgh 

Tennessee 


Donwr 
Kansas Qly 
Oakland 

San Diego 
Seattle 


Washtagtm 

Dados 

PNtaMpWa 

Arizona 


FOOTBALL 


PiFL Stampings 

amucan canais 

EAST 

NLTPd Pf PA 
ighml 3 0 01-000 99 37 

2 1 0 Ml SO 46 

1 2 0 -333 57 78 

Is 1 2 0 S33 87 58 

polls 0 3 0 JDO 19 7B 

CENTRAL 

nrUe 2 0 0 7.000 68 40 

re 2 1 0 667 74 61 

DU 1 1 0 JOO 34 44 

gh I 1 0 500 21 50 

»e 7 1 0 500 37 37 

WEST 

3 0 0 7.000 89 31 


N.Y.GJtgtto 

1 2 

0 

.333 

67 

tn- 

CENTRAL' 



■ * 

Tampa Boy 

3 0 

01.000 

65 

37 

Detroit 

2 1 

0 

.647 

77 

48 

Groan Bay 

2 1 

0 

467 

70 

S2 

Minnesota 

2 1 

0 

467 

75 

65 

Chicago 

0 3 0 
WEBT 

-000 

55 

97 

CaroTma 

2 1 

0 

467 

45 

37 


2 1 0 .667 50 46 San Francisco 2 1 0 467 54 32 

1 2 0 J33 57 78 51. Laois 1 2 0 J33 64 74 

1 2 0 J33 87 58 Affanta 0 3 0 J00 54 73 

0 3 0 .000 19 78 Now Orleans 0 3 0 JOO 37 97 

CENTRAL SUNDAY'S HSHIZ1 

2 0 0 7.000 68 40 Washington 19, Arizona 13, OT 

2 1 0 467 74 61 BattfaWTe 24, New York Grants 23 

1 1 0 JOO 34 44 Kansas Oty2Z Buffalo 16 

1 1 0 JOO 21 50 DdreB 32. Chkngo 7 

1 1 0 JOO 37 37 Green Bar 21 Miami 18 

west Oakland 36. Atlanta 31 

3 0 01.000 89 31 Tsnpa Bay 24 Minnesota 14 

2 1 0 467 53 62 Quaitaa 26, San Diego 7 

I 3 0 333 84 83 San Francisco 33, N ew (Means 7 

I 2 0 333 34 73 Denver 3£ SL Loub 14 

I 2 0 333 48 79 Seattle 31, Iratkmapafe 3 

AICOHIWI1 New England 27, New York Jets 24 OT 

east Open date: Qndima& Terms 

WLTPd PF PA JaeksomSb Pittsburgh: 

? ! S S “a The AP Top 25 

I 1 0 J00 27 40 “ 

1 1 0 333 5965 TlteTtop TVesrey Fhre teems In 


2 0 333 48 79 


The AP Top 25 

U» Hjp TVesrey Rue teems In The 


Associated Pr*** college football poN. wftti 
fust -piece votes in pe ren lh eseV rec&tte 
through Sept. 13, nod painz* based an 25 
points tar ■ Gist (decs vote through one 
pain tar ■ 25th pises vets end previous 

Record Pis Pv 

I. PeimSt.QS} 24) 1441 1 

2 Washington (7 9) 2-0 7415 3 

1 Florida 04) 2-0 1498 2 

4. Tennessee (6) 2-0 1443 4 

5. Florida SL (3) 24) 7483 5 

6. North Carolina f!) 24 1479 7 

7. Nebraska (2) 2-0 U64 6 

8 Michigan 1-0 U53 14 

9. Ohio SL 2-0 1.235 9 

10. LSU 2-0 1,165 10 

II. Alabama 2-0 1JM7 15 

IZAubum 2-0 678 16 

13. Iowa 2-0 BS0 IB 

14 Arizona SL 3-0 498 24 

15. Colorado 1-1 696 8 

16. aemson 2-0 669 19 

17. Michigan St 2-0 660 21 

18. Virginia Tech 2-0 603 22 

7 9- Washington 5L 2-0 490 — 

20. Kansas St 2-0 431 30 

21. Stanford 1-1 323 17 

22- Miami 1-1 244 13 

23. Colorado SL 2-1 172 25 

24 UCLA 1-2 131 - 

25. Georgia 2-0 127 — 


BASEBALL ✓ 


Major Leaque Standings 

AMBUCAM iiAan 

EAST OfYlSJGfl 


1 


W 

L 

Pel 

GB 

J 

*] 

Baltimore 

90 

56 

416 

— 

« 

M 

New York 

84 

63 

J71 

6K 

4 

r 

Boston 

73 

75 

493 

18 

J 

7 

Deholt 

73 

76 

490 

18V& 

<L 

Toronto 

71 

78 

477 

20U 

14 


CENTRAL DMSIOM 



O 

Cleveland 

78 

66 

J42 

— 

T 

ID 

Oven go 

73 

76 

490 

n 

■ v 

1C 

Milwaukee 

72 

75 

490 

716 

■ 3 

16 

Kansas City 

60 

86 

411 

19 

18 

Minnesota 

60 

87 

408 

19H 

24 


WEST DIVISION 



B 

Seattle 

83 

67 

353 

— 

19 

Anaheim 

77 

72 

J17 

5V4 

21 

Terns 

70 

79 

470 

12M 

22 

Oakland 

61 

89 

407 

22 


NAI1MIA1. UAMH 


20 


EAST DIVISION 



17 


Hf 

L 

Pet 

GB 

13 

Atlanta 

91 

57 

415 

— 

25 

Florida 

86 

61 

J85 

4Wr 


New York 

81 

67 

J47 

10 



Montreal 

74 

74 

JOO 

17 


PHtaddplria 

59 

88 

401 

31 M 

CENTRALDTVBBOH 


: • * 

Houston 

75 

73 

307 

_ 

Pittsburgh 

71 

78 

477 

AV, 

ST. Louis 

69 

79 

466 

6 

□ndnnatl 

68 

80 

459 

7 

Chicago 

63 

86 

423 

12M 


WEST DtVKDOM 



Lotf Angeles 

82 

67 

350 

— 

Son Francisco 

82 

67 

3SD 


Colorado 

77 

72 

317 

5 

San Diego 

70 

79 

470 

12 

SOHDAT'S LBUSCOBSS 


AUERtCAN LEAOUE 



Boston 

0M 

020 888-2 

4 1 

MOumtee 

0M 

Ml BOO-1 

7 1 


B Horny, Wasdbi (8), Avery (8), Gordon <9) 
and Hatteberg; J.Meroedas, Wtctanon [8}, 
Davis m and Slbmeit Levis (9). W— B. 
Henry, 7-Z l^J. Meroede* 6-10. 
5v— Gordon 18). HR — Boston. Gardaparra 
(29). 

□eve land BN 000 071-8 II 0 

Chicago 110 000 001—3 11 1 

Cotan. Shuey (7), MJadtsan (8), Mesa (9) 
and S. Alomar: Navarm AAcElray (7), N. Cruz 

(7) . T. CozUflo (BL J. Darwin (8), Fardham 

(8) , Foufke (8), Kmchner (8), Levine 19) and 
Fabregas. W— Shuey, 4-1. L— J. Darwin. 0-1. 
HR— CkwetamL Thorne (40). 

Minnesota 600 211 >10-11 21 0 

Texas 000 000 010—1 10 1 


Sereffan RBtMe w and D. Miller, 
Valentine (8); Witt Saitnio CD# Moody (5), 
• Evengenf (6),Te£knk (7) and L Rodriguez, 
H .Mercedes (8). W— Smnflnl 2-0. L— Wilt 
11-11. HRs— Minnesota, D-OrttZ (1), T. 
Wotor (2). Tern* D. Cedeno (4). 

Kansas City 001 000 100-2 7 0 

Anaheim 000 000 27 X— 3 5 0 

Belcher, Service (7L J. Walker (8) and 
Mada h o ne? K.HHI James 18), Pentad TO 
and Turner, Kieuter (8). W— James 5-5. 
L— Service 0-1. Sv-Pentari Q5). 

HR— Anaheim Howell (ID- 
Detroit 000 021 021-6 15 0 

Oakland 000 020 021-5 10 0 

SJandet^MIcan (7), BraadUBLToJones 
TO and Casanova- Haynes, A. Small GS), 
Groom (7), Taylor (0), C. Reyes (9), Kublnskl 
(9), Wenger! TO and Moyne. W— S. Sanders 
6-12. L— Haynes 3-4 Sv-ToJotws (29). 
HRs— Detroit To. dork (32), HcmeBn (17). 
OaUond Grieve CD. 

Toronto ON 020 000-2 6 0 

Seattle 001 000 02x— 3 7 0 

Carpenter, Crabtree (7). Plesae (7), Rbiey 
(8) and OBrleru AAoyec Timlin (8). Sktcumb 
TO and Do. Wilson. W— 1 Tlmrin 64 L— RWey 
0-1. Sv— Stoamib (24). HRs— Toronto C 
Delgado (30), Crespo 0). Seattto Buhner 
(36). 

New York ON 303 200-8 10 > 


Baltimore IN Ml 000—2 7 0 
- Gooden Boehringer (6), Stanton (6), 
Nelson (9) and Posada; KamlenieAk 
Rhodes (6), Mills (6), Orosco (7). 
TeMattiews (7), Br.WflBoms (9) and 
Webster, C Greene 191. W— Gooden 0-4 
L — Kamlenteckl 9-6. HR-New York, Cotta 
(151. 

NATIONAL LEAOUE 

Colorado 000 000 013-4 10 1 

Atlanta OOO 0M 000-0 4 1 

Asia da Dtpcta (9) and Je_Reedr Smoltz. 
Ugfenberg TO ondJ-Lopez- W— Asfada 11- 
9. L— Smoltz. 14-12. HR— Col ora da Winder 
Wald). 

Montreal HO 0M 000-0 7 0 

New York 000 010 OttE-1 3 0 

LPetez. Bennett (8) and Fletcher; MDcki, 
McMfchael (9) and Pratt. W-MEdd, 8-17. 
L-C Perez. 12-11. 5v— McMIchad (7). 
HR— New York. 1_ Lopez (I). 

Chicago 002 000 001-3 7 T 

Pittsburgh. 010 0M 010-2 6 4 

M. Clark. T. Adams TO end Servo Is Cookie 
Sadowsky (7), M. WUklns (8), Rincon W), 
Lose lie (9) and OsOc W-M. Ctark. 13-7. 
L— Rincon, 4-8. Sv— T. Adams (17). 
HR — Pittsburgh. Ward (4). 

Ondmitf BOO 400 101-6 9 2 

PhandeipMa 0M 200 011—4 0 2 

Tomka, Belinda (8), Shaw TO and 


Taubensec T. Green, Karp (71, Blazler (8), 
Botlalka (9) and Lieberthal W— Tomka 1 1- • 
6. • L— T. - Green 4-4; Sv-5how (371. • 
HR^-Phllodelphla K. Jordan 14). 

San Diego 200 HO 000-4 12 2 

SL Loots 100 101 07X-10 11 D 

J. Hamilton, Kroon (0). Ti. Worrell (8), 0. 
Veras (8) and Flaherty; Aydar, Painter (6), C. 
King (7), Fosses (8), Peikavsek (9) and 
Marrero. W — Fosses. 2-4 L— Kroon 0-1. 
HRs— 5an Dtegn S- Finley 127). SL Louis. 
McGwire (17). 

Las Angeles 000 2M 010 1-4 7 0 
Houston 2M OM 010 0-3 6 1 

(10 innings) -Noma, Dreifort 181. Radinsky 
(8). To.WorreK (10) and Piazza Prince (10); 
HOB, R. Springer (01, B. Wagner TO. Lima 
(10) and Ausmus. W— Rodlmfcy, 5-1. L— B. 

Wagner 7-8. Sv— TaWorreil (35). 

HR— Houstoa Bagwell (391. 

SanFnmdsce 010 DM 021—4 0 1 

Florida 0M 0M 32x— 5 6 0 

□Darwin. Tavaraz (61, R. Rodriguez (7). R. 
Hernandez (7), MulhoBand (81 and BerryboL 
B. Johnson [71; A-Lettor, F. HeiwEa (5), 
Alfonseca (61, Vosberg (71, Powell 18). Nen 
TO and C. Johnson. W— Powell 6-2. L— R. | 
Hernandez 3-2. Sv-Nert (33). HR-Flotlda, . 
ShemeW (19). 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



SURE UK£ TO 
section wan 












L 




y 


PAGE 22 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 16, 1997 


% 


ART BUCHWALD 


The Celebrity Crisis 


20 Years On, the Callas Legend Keeps 


W ashington — The 

question of celebrity 


.Aii'SM'":'# 


arises once again. 

People are celebrities be- 
cause they have been created 
by the public. The larger the 
celebrity, the more money is 
deposited into 
his account 
Some celebri- 
ties do not like 
to be bothered 
by the media, 
although they 
employ a public 
relations person 

L Buchwald 

good press. 

Celebrities are not mad at 
everyone in the press, only 
those who give (hem a bad 
one. 

It’s not all terrible being a 
celebrity. You get the best 
tables in restaurants, and 
quite often management will 
pick up your tab. You get the 
reservations yon want on air- 
planes, and if you're really 
hot stuff, the studios will lend 
you one of theirs. 


"Rhett, 1 got you five 

minutes on ‘Hard Copy talk- 
ing about your new movie." 

“I hate that show.” 

"It has a bigger rating than 
C-SPAN.” 

"What is my photo doing 
on the cover of me National 
Enquirer?" 

"I planted it Most of my 
clients would kill to be seen 
on that cover.” 

"Without any clothes 
on?" 

"If that’s what it takes to 
make the cover, I say let's go 
for it." 


By Anthony Tommasini 

New York Tunes Service 


N EW YORK — What is it about 
Maria Callas that continues to 


mesmerize us 20 years after her 
death? 

The iconic soprano has become 
the focus of a cult that die play- 
wright and opera expert Albert In- 
na urato recently described as pre- 
posterous, There is something 
perverse in the way Callas crazoids 
cherish pirated recordings of her 
most vocally frayed live perfor- 


You also get large dis- 
counts in dress shops and 
wine cellars and even a good 
price on a condo in a new 
development 

Public recognition can be a 
plus and a minus. It’s a plus 
when the crowd is friendly 
and the applause is loud. It's a 
minus when you are with 
somebody you are not sup- 
posed to be with and the pho- 
tographers ambush you. 

Big celebrities make huge 
amounts of money and have 
to spend it on bodyguards and 
buyers who threaten to sue 
newspapers. 

Celebrities cannot under- 
stand why, after so many flat- 
tering things are written about 
diem, so much bad news fol- 
lows right along. 

Here's how it goes: 


"Three people climbed 
over my fence last night.” 

"That’s because of who 
you are. There aren’t many 
celebrities who have fans 
climbing over their fences. 
Rhett every time a fan in- 
vades your back yard, the stu- 
dio has to pay you another 
half-million dollars.” 

"I’m not sure that I want to 
be a celebrity any more.” 

"It's not for you to decide. 
It's up to the public. Once 
they anoint you the photo- 
graphers can go to work and 
then it's nothing but ‘Enter- 
tainment Tonight.’ " 


Yet her importance to opera has 
never been more pervasive. And 
her legend has never been richer, 
stoked in parr by Terrence 


McNally's recent play "Master 
Class, "a hit with audiences though 
not with many music critics, who 
reject the portrayal of this supreme 
artist as a self-absorbed, sniping 
and silly woman. 

It is understandable that Callas’s 
singing still polarizes listeners. Her 
voice can sound strident, danger- 
ously out of control, even ugly. 
There is a leap you have to make to 
get to where she is as an artist, and 
once you cross over, it's hard to 
look back. 

To a listener in the throes of a 
Callas recording, all other sopranos 
can seem like pale substitutes. She 


exploded the concept of wha t beau- 
tiful singing means: Is it pretty 


tiful singing means: Is it pretty 
sounds and pure tones? Or should 


"One of the things I hate 
about being a celebrity is the 
way they try to tear off all 
your clothes.” 

"If you’re box-office ma- 
terial the studio will buy you 
new clothes.” 

"I also don't like women 
screaming at me when l walk 
into the Academy Awards.** 

"They do it because they 
love you. It's money in the 
bank." 

"Do you think it's possible 
to have a decent life if you are 
not a celebrity?" 

"It's possible, but it won't 
get you any tickets to a Lakers 
game." 


sounds and pure tones? Or should 
beauty evolve from text, musical 


shape, dramatic intent and, espe- 
cially, emotional truth? 


daily, emotional truth? 

Tuesday marks the anniversary 
of Maria Cn lias 's death in Paris in 
1977 at the age of 53. To acknowl- 
edge the anniversary, a major ex- 
hibition has opened at La Scala in 
Milan and is scheduled to tour the 
United States and Japan. 

In December a seminar at the 
Smithsonian Institution in Wash- 
ington will bring together histor- 
ians, critics and singers to grapple 
with her legacy. A street in Paris is 
to be named after her. And in 
Greece an eternal flame is being 
dedicated the same day that a naval 


ship will lay a wreath on the waters 
where her ashes were scattered 

Most important, EMI Classics, 
the record company with which 
Callas was associated, is releasing 
its entire Callas catalogue on com- 
pact disks, impressively re- 
mastered from the original tapes. 
Many of these are benchmarks of 
recording history, providing rivet- 
ing evidence of the way Callas con- 
veyed emotional truth through her 
unconventional artistry. 

Take her searing 1954 recording 
of "In questa reggia” from 
Puccini's ‘‘Turandot.’’ Think of 
what she is singing about. Tur- 
andot, a n icy princess in ancient 
Peking, nurses a hatred of all men 
because her revered ancestor, Lo-u 
Ling, was raped and murdered. 

In "la questa reggia, * ’ Callas, as 
Turandot, begins telling the story 
with steely defiance to a heedless 
young suitor. "In this palace" 
thousands of years ago, "un grido 
disperato" ("a desperate cry") 
rang out “E quel grido” ("and 
that cry") she sings, leaping with a 
ferocious wail to a high A, "took 
shelter in my heart," settling into 
dusky tones that convey the ex- 
hausting daily effort of sheltering 
that cry. 

As Turandot invokes the name 
of Principessa Lo-u Ling, Callas 
ascends a sublimely sad phrase to a 
sustained midrange C sharp that 
seems to come from a place thou- 
sands of years away. As the soft 
note gains in intensity and starts to 
wobble, Lo-u Ling's tragedy is 
painfully evident. 

Beverly Sills, who points to 
Callas as a role model, heard her 
only once, in a 1958 production of 
"La Traviata" at Covent Garden, 
and on that night Callas was in 
poor voice. 

"She knew it, too,” Sills said 
recently. "She didn't deceive her- 
self about the state of her singing. 
She was visibly nervous. But her 
use of words, the vitality of lan- 
guage in her singing, was amaz- 
ing. She was hell-bent on her own 
destruction, and broke all the rules 
of singing. But so what? That’s 



< ' ■ • • ■■ fst 4 . • . . . 


it ' ’ .... 



New York City to Greek parents^ 
she returned with her mother toj 
Greece at 14 and entered the con-* 
servatory in Athens. She began her; 
career as a chunky woman, awki' 
ward on stage and unsure o f her 
musical direction. Then with sheer ^ 
determination she shed 70 pounds'* 


O** 


and became the sleekly beautiful 
onrt charismatic musical actress of 


IVAwnMrM 


Maria Callas in “Medea” at La Scala opera house in Milan. 


why 20 years later we're talking 
about her.” 

The new EMI sets have been 
repackaged in black-and-white 
boxes, which gives the series an 
archival look. Already in the stores 
is the first installment: 20 complete 
recordings of operas by Rossini, 
Verdi. Bizet, Puccini and others, 
including two legendary Bellini in- 
terpretations — the 1954 
“Norma" with her mentor Tullio 
Serafin conducting and the ac- 
claimed * T Puritani "with her most 
frequent partner, the tenor Gi- 
useppe Di Stefano. 

The remastered “Tosca,” con- 
ducted by Victor de Sabaia, which 
some critics have called, over all, 
the finest opera recording ever 
made, will also be released on Oct. 7 


in CD-ROM format, with texts, bi- 
ographies and production photos. 

Phase two of the project will 
come in Januaiy with the release of 
1 1 midprice recital disks as well as, 
for the first time on CD, Donizetti’s 
"Poliuto" with the molten-voiced 
tenor Franco Corelli, whose 
clashes with the tempestuous diva 
were notorious. 

The final installment, next 
March, will offer nine additional 
complete operas, plus two double- 
disk collections of rarities, some 70 
disks in all. Tbe company is con- 
fident that tbe rereleases, most of 
which have been available at one 
time or another, will be scooped up 
again in these new formats. 

The glamour of Callas’s life has 
been much exaggerated. Bom in 


and charismatic musical actress of? : 

legend. . „ . < 

There were essentially, just two« 
men in her life: her husband, Gio-’, 
vanni Battista Meneghini, 20 years;, 
her senior, who protected like a", 
father and nurtured hex career, and'; 
Aristotle Onassis. who lured har r 
with promises of luxuiy and mar- 
riage, cared nothing for her art and 
publicly rejected her for the wid- 
owed Jacqueline Kennedy. ■ * 

Callas’s stature as a musician^ 
took a hit in McNally’s "Master^ , 
Class. ’ ’ His Callas is a caricature of; 
the vulnerable woman and dedi-- 
cated professional who gave 12 r - 
master classes at tbe Juilliard' 
School in 1972, excerpts of which' 
were released 10 years ago on an-" 
other EMI set * -j 

At the time of these classes. Cal-' 
las’s voice was virtually gone. Yet 
in struggling to help these awe- . 
struck students she could sot re- 
frain from singing herself, even *■ 
when it meant .exposing her ray- ; 
aged vocal condition, which took ‘ ■ 
great personal courage. McNally’s ■' 
Callas does no singing, just carping* 
and carrying on. 

In a way, Callas had to sing for 
tbe students, because she was not 
articulate about her artistry, or' 
much else. 

Sills met with her only once, for * ’• 
a 90-minute tea. ‘ 'We sat and chat- „ 
ted,” she recalled, "and, in truth,, 
there was nothing intellectually ! , 


memorable about her in person. 

"She asked what 1 did in my . 
spare time. I told her that I was 
word freak: I did word games and; 
read books. She said: ‘I don't read; 

I don’t have the. patience. I’m tooj 
fidgety.' She was serious and' 
pleasant. In a way, she was- an 
ordinary person with an extraor-' 
dinary talent" 


‘CANDLE’ IN THE STORM 


PEOPLE 


As CDs Fly Off the Shelves, Elton John Cools the Hype 


F OR the fourth Consecutive 
year. "Frasier" won the 


By Jon Pareles 

New Yurk Tunes St nice 


N EW YORK — Will Elton John be the 
only media figure not to profit from the 




only media figure not to profit from the 
death of Diana, Princess of Wales? With 
‘ ‘Candle in the Wind 1997,’ ’ the song he sang 
at the funeral seen around the world, he is 
about 10 have an international hit. and he’s 
trying hard to do all the right things. 

There are millions of advance orders for the 
single, a studio version of the song, recorded 
the day o'f the funeral. It was released on 
Saturday in Britain and will be in stores in the 
United States on Sept. 23. Radio stations have 
already been playing the song, either in the 
live-at-the-funeral version or a satellite-trans- 
mitted copy of the studio recording. [Reuters 
reported that John's tribute song to Princess 
Diana sold more than 600,000 copies in Bri- 
tain on die day it was released, according to a 








mm* . 



V>- * 


record company spokesman.] 

Tbe song itself, which set people crying 
inside and outside Westminster Abbey, 
makes cunning use of pop's collective 
memory. When Bemie Taupin wrote the lyr- 
ics that John set to music on the 1973 album 
“Goodbye Yellow Brick Road,” tbe song 
was about Marilyn Monroe, who, like Diana, 
died while she was still young and glamorous. 

The original "Candle in the Wind" was si- 
multaneously affectionate and bitter. It sym- Fai 
pathizes with the star's loneliness; at the same 
rime, ir blames Hollywood star-making, the people 
who ‘ ‘crawled out of the woodwork” and the press 
for Monroe's pain. In the new version, the bile has 
disappeared. Taupin’s revised lyrics are purely 
respectful, even reverent; the song links Diana's 
memory to the beloved English countryside and 
equates her with Britain’s soul. As an exercise in 
verse, the new lyrics hold on to the old song's tide 
and some of its word sounds while changing nearly 
everything else. "Never knowing who to cling to" 
has been replaced by "never fading with the sun- 
set”; "loneliness'' has rumed into "loveliness.” 

Yet people have been hearing the original 
‘‘Candle in the Wind" for 24 years; it’s ingrained 
in anyone who regularly tunes in pop radio stations. 
And as with all rewritten songs, from comedy- 
troupe spoofs to hip-hop voice-overs, the new 
lyrics ricochet off memories of the old ones. Taupin 
and John have achieved the pop equivalent of a 
two-cushion billiards shot. They maintain their 
decorum, yet listeners understand that the new song 
links the princess and the movie actress. It implies 


Fans snapping up CDs of “Candle in the Wind." 


that Diana will become an icon like Monroe, and 
without a word, it suggests that both women were 
destroyed by their stardom. 

For John, the quandary is how not to appear as 
one more parasite. In the star system, death at an 
early age is a sadly potent marketing tool; from 
Johnny Ace to Otis Redding to Janis Joplin to Jim 
Croce to Kurt Cobam. fans have expressed their 
sorrow through buying songs as keepsakes. 

The remade * ‘Candle in the Wind ' ' can’t help but 
draw attention to John’s new album. “The Bis 


performance ( to be recorded this week in New 
Orleans and telecast on Friday). Now, he is in 
the odd position of trying not to capitalize on 
his best media exposure in at least a decade. 

His is not the last tribute. Other British pop 
stars — including Paul McCartney, Sting and 
Peter Gabriel — are to record songs for an 
album to benefit the Diana, Princess of Wales, 
Memorial Fund, which is also where John’s 
profits are going. With the cooperation of the 
major labels and under the direction of 
Richard Branson, the founder of Virgin and 
V2 Records, the album is to be released by its 
own recording company. From early reports, 
it is shaping up as a concept album about grief 
and death, to include Seal’s “Prayer for the 
Dying,” Phil Collins’s "Since I Lost You” 
and Annie Lennox's "AngeL” The West- 
minster Abbey choir, and probably an or- 
chestra, are also participating. 

From an American perspective, it is curious 
to see rock musicians, still tenuously con- 
nected to working-class and rebel traditions, 
lining up to commemorate a member of the 
British aristocracy, even one who embraced 
AIDS patients and lepers. 

Other British all-star efforts — from 
George Harrison's “Bangladesh" to Bob 
Geldof s Ethiopian famine-relief single, * 'Do 
They Know ft’s Christmas?” — have ad- 
-w-T. dressed themselves to suffering masses in 
faraway places. But Diana's long role as a 
member of the royal family probably isn't 
what made the pop stars mobilize. It was, rather, the 
position they share as celebrities, in a media spot- 
light that they sometimes court and often resent. 
Mourning Diana, they also mourn their own private 
lives. 

For his part, John seems to be doing all he can to 
separate his own career from what may rum out to 
be his most popular song. As with the tribute album, 
he has earmarked aJI the proceeds from "Candle in 
the Wind 1997” — not just his own royalties, as 


1 year, "Frasier" won the 
best comedy Emmy, and 
“Law & Order" was a first- 
time winner as best drama, 
making NBC the top network 
at the 49th annual Emmy 
Awards. In the acting categor- 
ies, three of the categories 
mirrored last, year’s winners: 
Dennis Franz of “NYPD 
Blue" as best actor in a 
drama. Helen Hunt of "Mad 
About You " as best actress in 
a comedy, and John Lithgow 
as best actor in a comedy for 
"3rd Rock From the Sun." 
The only newcomer in the top 
acting categories was Gillian 
Anderson as best actress in a 
drama, for “The X-Files." 


■'•kJV > / m 

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Breaking with tradition, the | 

Metropolitan Opera in New _ _ _ w !*>.*•**««. 

York has engaged Valeri John Lithgow with his Emmy for best comedy actor. 
Gergiev, director of the •) 


Maryinsky Theater in St. Petersburg, as its 
first principal guest conductor, advancing a 
growing partnership with his Kirov Opera and 
Ballet. The five-year appointment backs up 
the Met’s longtime artistic director, James 
Levine, with a second regular conductor for 


the company to count on and plan productions 
around. "I'm adding, not subtracting,” said 


Joseph Volpe, rhe Met’s general manager. 
Levine hailed the arrangement, saying, “We 
have the most marvelous interaction.” Except 
for a previous commitment in San Francisco 
next year, Gergiev will not conduct opera 
elsewhere in the United States, the Met said. 


draw attention to John s new album. “The Big with most benefit singles, but the recording com- 

Picture,” which had long been in the works for pany’s profits as well — to charity. 

release on Sept. 23. He was revving up the standard He has asked television stations to stop broad- 


publicity blitz for the album: the new “Candle” 
will share a disk with the album's first single, 
“Something About the Way You Look Tonight.’ * a 
hymn like love song that doesn’t sound inappro- 
priate to its new context. 

In the United States, the promotion centers on tile 
cable channel VH-i, where John is September's 
Artist of the Month twith his old video clips re- 
played continually i and the star of a live club 


He has asked television stations to stop broad- 
casting the video of him performing the song at the 
funeral; instead, he will release a video clip with- 
out his image in it. In a further gesture of re- 
nunciation. he has stated that he does not intend to 
play the song again live "at this time." There will 
be no self-congratulatory arena -sing-alongs. no 
separating the song from its occasion. Even if the 
song continues to be inescapable, John refuses to 
compound the hype. 


A court in Marseille has ruled that the 
organizer of a U2 concert in the Mediterranean 
port city must pay S 34. 000 to a man who 
doctors say lost his hearing at a 1993 per- 
formance by the Irish rock band. The court held 
that the promoter was responsible for the hear- 
ing loss even though the man sneaked around a 
security fence to get nearer the giant speakers. 
The decision did not identify the promoter or 
the 34- year-old victim, and court officials de- 
clined to release their names. 


Back in his native land, violinist Isaac Stern 
performed over the weekend at the Moscow 
Conservatory. He played Mozart and Bruch 
concertos with the State Academic Philhar- 
monic "with his usual radiance and virtu- 
osity. the Itar-T ass news agency said. Stem, 
77, was bom in Russia but moved to the United 
States with his parents when he was 10 months 
old and is an American citizen. He last per-, 
formed in Moscow in December 1991 in the 
final days before the Soviet Union’s collapse.' 


More than 1,200 guitarists played “Dirty 
Water on the banks of the Charles River in 
Boston for 90 minutes but failed in on attempt 


The talk show queen Oprah Winfrey will 
rule over daytime television for several more 
seasons. Winfrey is committed to being host 
of “The Oprah Winfrey Show" through the 
1999-2000 season. Haipo Productions an-, 
nounced. 



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to strum into the Guinness Book of World 
Records. Members of The Cars, Boston and 
other bands took the lead in an attempt tQ 
break the record for the most guitarists play’-* 
ing the same song for the longest time. But 
organizers fell short of the world record 1 322 
guitarists who played “Takin’ Care of Busi- 
ness" three years ago in Canada. A group of 
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