Rockwell_NNP  International_NNP  Corp._NNP  's_POS  Tulsa_NNP  unit_NN  said_VBD  it_PRP  signed_VBD  a_DT  tentative_JJ  agreement_NN  extending_VBG  its_PRP$  contract_NN  with_IN  Boeing_NNP  Co._NNP  to_TO  provide_VB  structural_JJ  parts_NNS  for_IN  Boeing_NNP  's_POS  747_CD  jetliners_NNS  ._. 
Rockwell_NNP  said_VBD  the_DT  agreement_NN  calls_VBZ  for_IN  it_PRP  to_TO  supply_VB  200_CD  additional_JJ  so-called_JJ  shipsets_NNS  for_IN  the_DT  planes_NNS  ._. 
These_DT  include_VBP  ,_,  among_IN  other_JJ  parts_NNS  ,_,  each_DT  jetliner_NN  's_POS  two_CD  major_JJ  bulkheads_NNS  ,_,  a_DT  pressure_NN  floor_NN  ,_,  torque_NN  box_NN  ,_,  fixed_VBN  leading_VBG  edges_NNS  for_IN  the_DT  wings_NNS  and_CC  an_DT  aft_JJ  keel_NN  beam_NN  ._. 
Under_IN  the_DT  existing_VBG  contract_NN  ,_,  Rockwell_NNP  said_VBD  ,_,  it_PRP  has_VBZ  already_RB  delivered_VBN  793_CD  of_IN  the_DT  shipsets_NNS  to_TO  Boeing_NNP  ._. 
Rockwell_NNP  ,_,  based_VBN  in_IN  El_NNP  Segundo_NNP  ,_,  Calif._NNP  ,_,  is_VBZ  an_DT  aerospace_NN  ,_,  electronics_NNS  ,_,  automotive_JJ  and_CC  graphics_NNS  concern_VBP  ._. 
Frank_NNP  Carlucci_NNP  III_NNP  was_VBD  named_VBN  to_TO  this_DT  telecommunications_NNS  company_NN  's_POS  board_NN  ,_,  filling_VBG  the_DT  vacancy_NN  created_VBN  by_IN  the_DT  death_NN  of_IN  William_NNP  Sobey_NNP  last_JJ  May_NNP  ._. 
Mr._NNP  Carlucci_NNP  ,_,  59_CD  years_NNS  old_JJ  ,_,  served_VBN  as_IN  defense_NN  secretary_NN  in_IN  the_DT  Reagan_NNP  administration_NN  ._. 
In_IN  January_NNP  ,_,  he_PRP  accepted_VBD  the_DT  position_NN  of_IN  vice_NN  chairman_NN  of_IN  Carlyle_NNP  Group_NNP  ,_,  a_DT  merchant_NN  banking_NN  concern_NN  ._. 
SHEARSON_NNP  LEHMAN_NNP  HUTTON_NNP  Inc_NNP  ._. 
Thomas_NNP  E._NNP  Meador_NNP  ,_,  42_CD  years_NNS  old_JJ  ,_,  was_VBD  named_VBN  president_NN  and_CC  chief_JJ  operating_VBG  officer_NN  of_IN  Balcor_NNP  Co._NNP  ,_,  a_DT  Skokie_NNP  ,_,  Ill._NNP  ,_,  subsidiary_NN  of_IN  this_DT  New_NNP  York_NNP  investment_NN  banking_NN  firm_NN  ._. 
Balcor_NNP  ,_,  which_WDT  has_VBZ  interests_NNS  in_IN  real_JJ  estate_NN  ,_,  said_VBD  the_DT  position_NN  is_VBZ  newly_RB  created_VBN  ._. 
Mr._NNP  Meador_NNP  had_VBD  been_VBN  executive_JJ  vice_NN  president_NN  of_IN  Balcor_NNP  ._. 
In_IN  addition_NN  to_TO  his_PRP$  previous_JJ  real-estate_NN  investment_NN  and_CC  asset-management_NN  duties_NNS  ,_,  Mr._NNP  Meador_NNP  takes_VBZ  responsibility_NN  for_IN  development_NN  and_CC  property_NN  management_NN  ._. 
Those_DT  duties_NNS  had_VBD  been_VBN  held_VBN  by_IN  Van_NNP  Pell_NNP  ,_,  44_CD  ,_,  who_WP  resigned_VBD  as_IN  an_DT  executive_JJ  vice_NN  president_NN  ._. 
Shearson_NNP  is_VBZ  about_IN  60%-held_JJ  by_IN  American_NNP  Express_NNP  Co_NNP  ._. 
Great_NNP  American_NNP  Bank_NNP  ,_,  citing_VBG  depressed_JJ  Arizona_NNP  real_JJ  estate_NN  prices_NNS  ,_,  posted_VBD  a_DT  third-quarter_JJ  loss_NN  of_IN  $_$  59.4_CD  million_CD  ,_,  or_CC  $_$  2.48_CD  a_DT  share_NN  ._. 
A_DT  year_NN  earlier_RBR  ,_,  the_DT  savings_NNS  bank_VBP  had_VBD  earnings_NNS  of_IN  $_$  8.1_CD  million_CD  ,_,  or_CC  33_CD  cents_NNS  a_DT  share_NN  ._. 
For_IN  the_DT  nine_CD  months_NNS  ,_,  it_PRP  had_VBD  a_DT  loss_NN  of_IN  $_$  58.3_CD  million_CD  ,_,  or_CC  $_$  2.44_CD  a_DT  share_NN  ,_,  after_IN  earnings_NNS  of_IN  $_$  29.5_CD  million_CD  ,_,  or_CC  $_$  1.20_CD  a_DT  share_NN  ,_,  in_IN  the_DT  1988_CD  period_NN  ._. 
Great_NNP  American_NNP  said_VBD  it_PRP  increased_VBD  its_PRP$  loan-loss_NN  reserves_NNS  by_IN  $_$  93_CD  million_CD  after_IN  reviewing_VBG  its_PRP$  loan_NN  portfolio_NN  ,_,  raising_VBG  its_PRP$  total_JJ  loan_NN  and_CC  real_JJ  estate_NN  reserves_NNS  to_TO  $_$  217_CD  million_CD  ._. 
Before_IN  the_DT  loan-loss_NN  addition_NN  ,_,  it_PRP  said_VBD  ,_,  it_PRP  had_VBD  operating_VBG  profit_NN  of_IN  $_$  10_CD  million_CD  for_IN  the_DT  quarter_NN  ._. 
The_DT  move_NN  followed_VBD  a_DT  round_NN  of_IN  similar_JJ  increases_NNS  by_IN  other_JJ  lenders_NNS  against_IN  Arizona_NNP  real_JJ  estate_NN  loans_NNS  ,_,  reflecting_VBG  a_DT  continuing_VBG  decline_NN  in_IN  that_DT  market_NN  ._. 
In_IN  addition_NN  to_TO  the_DT  increased_VBN  reserve_NN  ,_,  the_DT  savings_NNS  bank_VBP  took_VBD  a_DT  special_JJ  charge_NN  of_IN  $_$  5_NN  million_CD  representing_VBG  general_JJ  and_CC  administrative_JJ  expenses_NNS  from_IN  staff_NN  reductions_NNS  and_CC  other_JJ  matters_NNS  ,_,  and_CC  it_PRP  posted_VBD  a_DT  $_$  7.6_CD  million_CD  reduction_NN  in_IN  expected_VBN  mortgage_NN  servicing_NN  fees_NNS  ,_,  reflecting_VBG  the_DT  fact_NN  that_IN  more_JJR  borrowers_NNS  are_VBP  prepaying_VBG  their_PRP$  mortgages_NNS  ._. 
Arbitragers_NNS  were_VBD  n't_RB  the_DT  only_RB  big_JJ  losers_NNS  in_IN  the_DT  collapse_NN  of_IN  UAL_NNP  Corp._NNP  stock_NN  ._. 
Look_VB  at_IN  what_WP  happened_VBD  to_TO  UAL_NNP  's_POS  chairman_NN  ,_,  Stephen_NNP  M._NNP  Wolf_NNP  ,_,  and_CC  its_PRP$  chief_JJ  financial_JJ  officer_NN  ,_,  John_NNP  C._NNP  Pope_NNP  ._. 
On_IN  a_DT  day_NN  some_DT  United_NNP  Airlines_NNPS  employees_NNS  wanted_VBD  Mr._NNP  Wolf_NNP  fired_VBD  and_CC  takeover_NN  stock_NN  speculators_NNS  wanted_VBD  his_PRP$  scalp_NN  ,_,  Messrs._NNP  Wolf_NNP  and_CC  Pope_NNP  saw_VBD  their_PRP$  prospective_JJ  personal_JJ  fortunes_NNS  continue_VBP  to_TO  plummet_VB  as_IN  shares_NNS  of_IN  UAL_NNP  ,_,  United_NNP  's_POS  parent_NN  company_NN  ,_,  dived_VBD  $_$  24.875_CD  on_IN  the_DT  Big_NNP  Board_NNP  to_TO  close_VB  at_IN  $_$  198_CD  ._. 
Including_VBG  Monday_NNP  's_POS  plunge_NN  ,_,  that_WDT  has_VBZ  given_VBN  the_DT  two_CD  executives_NNS  paper_NN  losses_NNS  of_IN  $_$  49.5_CD  million_CD  ,_,  based_VBN  on_IN  what_WP  they_PRP  would_MD  have_VB  realized_VBN  had_VBN  the_DT  pilots_NNS  and_CC  management-led_JJ  buy-out_NN  of_IN  UAL_NNP  gone_VBN  through_IN  at_IN  $_$  300_CD  a_DT  share_NN  ._. 
When_WRB  bank_NN  financing_NN  for_IN  the_DT  buy-out_NN  collapsed_VBD  last_JJ  week_NN  ,_,  so_RB  did_VBD  UAL_NNP  's_POS  stock_NN  ._. 
Even_RB  if_IN  the_DT  banks_NNS  resurrect_VBP  a_DT  financing_NN  package_NN  at_IN  $_$  250_CD  a_DT  share_NN  ,_,  the_DT  two_CD  executives_NNS  would_MD  still_RB  get_VB  about_RB  $_$  25_CD  million_CD  less_JJR  than_IN  they_PRP  stood_VBD  to_TO  gain_VB  in_IN  the_DT  initial_JJ  transaction_NN  ._. 
Mr._NNP  Wolf_NNP  owns_VBZ  75,000_CD  UAL_NNP  shares_NNS  and_CC  has_VBZ  options_NNS  to_TO  buy_VB  another_DT  250,000_CD  at_IN  $_$  83.3125_CD  each_DT  ._. 
In_IN  the_DT  $_$  300-a-share_JJ  buyout_NN  ,_,  that_WDT  totaled_VBD  about_RB  $_$  76.7_CD  million_CD  ._. 
By_IN  yesterday_NN  's_POS  close_NN  of_IN  trading_NN  ,_,  it_PRP  was_VBD  good_JJ  for_IN  a_DT  paltry_JJ  $_$  43.5_CD  million_CD  ._. 
Of_IN  course_NN  ,_,  Mr._NNP  Wolf_NNP  ,_,  48_CD  years_NNS  old_JJ  ,_,  has_VBZ  some_DT  savings_NNS  ._. 
He_PRP  left_VBD  his_PRP$  last_JJ  two_CD  jobs_NNS  at_IN  Republic_NNP  Airlines_NNPS  and_CC  Flying_NNP  Tiger_NNP  with_IN  combined_VBN  stock-option_NN  gains_NNS  of_IN  about_RB  $_$  22_CD  million_CD  ,_,  and_CC  UAL_NNP  gave_VBD  him_PRP  a_DT  $_$  15_CD  million_CD  bonus_NN  when_WRB  it_PRP  hired_VBD  him_PRP  ._. 
His_PRP$  1988_CD  salary_NN  was_VBD  $_$  575,000_CD  ,_,  with_IN  a_DT  $_$  575,000_CD  bonus_NN  ._. 
The_DT  40-year_JJ  old_JJ  Mr._NNP  Pope_NNP  has_VBZ  n't_RB  changed_VBN  jobs_NNS  enough_RB  --_:  at_IN  least_JJS  the_DT  right_NN  ones_NNS  --_:  to_TO  stash_VB  away_RB  that_DT  kind_NN  of_IN  money_NN  ._. 
United_NNP  paid_VBD  him_PRP  a_DT  $_$  375,000_CD  bonus_NN  to_TO  lure_VB  him_PRP  away_RB  from_IN  American_NNP  Airlines_NNPS  ,_,  and_CC  he_PRP  was_VBD  paid_VBN  a_DT  salary_NN  of_IN  $_$  342,122_CD  last_JJ  year_NN  with_IN  a_DT  $_$  280,000_CD  bonus_NN  ._. 
Mr._NNP  Pope_NNP  owns_VBZ  10,000_CD  UAL_NNP  shares_NNS  and_CC  has_VBZ  options_NNS  to_TO  buy_VB  another_DT  150,000_CD  at_IN  $_$  69_CD  each_DT  ._. 
That_DT  came_VBD  to_TO  a_DT  combined_VBN  $_$  37.7_CD  million_CD  under_IN  the_DT  $_$  300-a-share_JJ  buy-out_NN  ,_,  but_CC  just_RB  $_$  21.3_CD  million_CD  at_IN  yesterday_NN  's_POS  close_NN  ._. 
Of_IN  the_DT  combined_VBN  $_$  114.4_CD  million_CD  the_DT  two_CD  men_NNS  were_VBD  scheduled_VBN  to_TO  reap_VB  under_IN  the_DT  buy-out_NN  ,_,  they_PRP  agreed_VBD  to_TO  invest_VB  in_IN  the_DT  buy-out_NN  just_RB  $_$  15_CD  million_CD  ,_,  angering_VBG  many_NN  of_IN  the_DT  thousands_NNS  of_IN  workers_NNS  asked_VBD  to_TO  make_VB  pay_NN  concessions_NNS  so_RB  the_DT  buy-out_NN  would_MD  be_VB  a_DT  success_NN  ._. 
United_NNP  's_POS  directors_NNS  voted_VBD  themselves_PRP  ,_,  and_CC  their_PRP$  spouses_NNS  ,_,  lifetime_NN  access_NN  to_TO  the_DT  Friendly_NNP  Skies_NNPS  --_:  free_JJ  first-class_JJ  travel_NN  ,_,  and_CC  $_$  20,000_CD  a_DT  year_NN  for_IN  life_NN  as_IN  well_RB  ._. 
Conceivably_RB  ,_,  in_IN  a_DT  scaled-back_JJ  buy-out_NN  ,_,  they_PRP  could_MD  be_VB  bumped_VBN  back_RB  to_TO  coach_NN  seats_NNS  for_IN  life_NN  ._. 
Thomas_NNP  H._NNP  Johnson_NNP  ,_,  president_NN  of_IN  the_DT  Coatedboard_NNP  division_NN  of_IN  Mead_NNP  Corp._NNP  ,_,  was_VBD  named_VBN  president_NN  of_IN  Manville_NNP  Forest_NNP  Products_NNP  Corp._NNP  ,_,  a_DT  Manville_NNP  unit_NN  ,_,  and_CC  senior_JJ  vice_NN  president_NN  of_IN  Manville_NNP  Corp_NNP  ._. 
Mr._NNP  Johnson_NNP  succeeds_VBZ  Harry_NNP  W._NNP  Sherman_NNP  ,_,  who_WP  resigned_VBD  to_TO  pursue_VB  other_JJ  interests_NNS  ,_,  in_IN  both_DT  positions_NNS  ._. 
Manville_NNP  is_VBZ  a_DT  building_NN  and_CC  forest_NN  products_NNS  concern_VBP  ._. 
US_PRP  Facilities_NNP  Corp._NNP  said_VBD  Robert_NNP  J._NNP  Percival_NNP  agreed_VBD  to_TO  step_VB  down_RB  as_IN  vice_NN  chairman_NN  of_IN  the_DT  insurance_NN  holding_VBG  company_NN  ._. 
``_``  There_EX  was_VBD  a_DT  difference_NN  of_IN  opinion_NN  as_IN  to_TO  the_DT  future_NN  direction_NN  of_IN  the_DT  company_NN  ,_,  ''_''  a_DT  spokeswoman_NN  said_VBD  ._. 
Mr._NNP  Percival_NNP  declined_VBD  to_TO  comment_VB  ._. 
In_IN  a_DT  statement_NN  ,_,  US_PRP  Facilities_NNPS  said_VBD  Mr._NNP  Percival_NNP  's_POS  employment_NN  contract_NN  calls_VBZ  for_IN  him_PRP  to_TO  act_VB  as_IN  a_DT  consultant_NN  to_TO  the_DT  company_NN  for_IN  two_CD  years_NNS  ._. 
He_PRP  will_MD  also_RB  remain_VB  a_DT  director_NN  ,_,  US_PRP  Facilities_NNPS  said_VBD  ,_,  but_CC  wo_MD  n't_RB  serve_VB  on_IN  any_DT  board_NN  committees_NNS  ._. 
Mr._NNP  Percival_NNP  will_MD  be_VB  succeeded_VBN  on_IN  an_DT  interim_JJ  basis_NN  by_IN  George_NNP  Kadonada_NNP  ,_,  US_PRP  Facilities_NNPS  chairman_NN  and_CC  president_NN  ._. 
In_IN  the_DT  same_JJ  statement_NN  ,_,  US_PRP  Facilities_NNPS  also_RB  said_VBD  it_PRP  had_VBD  bought_VBN  back_RB  112,000_CD  of_IN  its_PRP$  common_JJ  shares_NNS  in_IN  a_DT  private_JJ  transaction_NN  ._. 
Terms_NNS  were_VBD  n't_RB  disclosed_VBN  ._. 
The_DT  buy-back_NN  represents_VBZ  about_IN  3_CD  %_NN  of_IN  the_DT  company_NN  's_POS  shares_NNS  ,_,  based_VBN  on_IN  the_DT  3.7_CD  million_CD  shares_NNS  outstanding_JJ  as_IN  of_IN  Sept._NNP  30_CD  ._. 
In_IN  national_JJ  over-the-counter_JJ  trading_NN  yesterday_NN  ,_,  US_PRP  Facilities_NNPS  closed_VBD  at_IN  $_$  3.625_CD  ,_,  unchanged_JJ  ._. 
Three_CD  leading_VBG  drug_NN  companies_NNS  reported_VBD  robust_JJ  third-quarter_JJ  earnings_NNS  ,_,  bolstered_VBN  by_IN  strong_JJ  sales_NNS  of_IN  newer_JJR  ,_,  big-selling_JJ  prescriptions_NNS  drugs_NNS  that_WDT  provide_VBP  hefty_JJ  profit_NN  margins_NNS  ._. 
Merck_NNP  &_CC  Co._NNP  reported_VBD  a_DT  25_CD  %_NN  increase_NN  in_IN  earnings_NNS  ;_:  Warner-Lambert_NNP  Co._NNP  's_POS  profit_NN  rose_VBD  22_CD  %_NN  and_CC  Eli_NNP  Lilly_NNP  &_CC  Co._NNP  's_POS  net_JJ  income_NN  rose_VBD  24_CD  %_NN  ._. 
The_DT  results_NNS  were_VBD  in_IN  line_NN  with_IN  analysts_NNS  '_POS  expectations_NNS  ._. 
Merck_NNP  &_CC  Co_NNP  ._. 
Merck_NNP  ,_,  Rahway_NNP  ,_,  N.J._NNP  ,_,  continued_VBD  to_TO  lead_VB  the_DT  industry_NN  with_IN  a_DT  strong_JJ  sales_NNS  performance_NN  in_IN  the_DT  human_NN  and_CC  animal_NN  health-products_NNS  segment_VBP  ._. 
A_DT  stronger_JJR  U.S._NNP  dollar_NN  reduced_VBD  third-quarter_JJ  and_CC  first-nine-month_JJ  sales_NNS  growth_NN  2_CD  %_NN  and_CC  3_CD  %_NN  ,_,  respectively_RB  ._. 
International_JJ  sales_NNS  accounted_VBD  for_IN  47_CD  %_NN  of_IN  total_JJ  company_NN  sales_NNS  for_IN  the_DT  nine_CD  months_NNS  ,_,  compared_VBN  with_IN  50_CD  %_NN  a_DT  year_NN  earlier_RBR  ._. 
Sales_NNS  for_IN  the_DT  quarter_NN  rose_VBD  to_TO  $_$  1.63_CD  billion_CD  from_IN  $_$  1.47_CD  billion_CD  ._. 
Mevacor_NNP  ,_,  Merck_NNP  's_POS  new_JJ  cholesterol-lowering_JJ  drug_NN  ,_,  had_VBD  higher_JJR  sales_NNS  than_IN  any_DT  other_JJ  prescription_NN  medicine_NN  has_VBZ  ever_RB  achieved_VBN  in_IN  the_DT  U.S._NNP  in_IN  the_DT  year_NN  following_VBG  introduction_NN  ,_,  the_DT  company_NN  said_VBD  ._. 
The_DT  drug_NN  was_VBD  introduced_VBN  in_IN  West_NNP  Germany_NNP  this_DT  year_NN  ._. 
Intense_JJ  competition_NN  ,_,  however_RB  ,_,  led_VBN  to_TO  unit_NN  sales_NNS  declines_NNS  for_IN  a_DT  group_NN  of_IN  Merck_NNP  's_POS  established_VBN  human_NN  and_CC  animal-health_NN  products_NNS  ,_,  including_VBG  Aldomet_NNP  and_CC  Indocin_NNP  ._. 
In_IN  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  composite_JJ  trading_NN  yesterday_NN  ,_,  Merck_NNP  shares_NNS  closed_VBD  at_IN  $_$  75.25_CD  ,_,  up_IN  50_CD  cents_NNS  ._. 
Warner-Lambert_NNP  Co_NNP  ._. 
Warner-Lambert_NNP  ,_,  Morris_NNP  Plains_NNP  ,_,  N.J._NNP  ,_,  reported_VBD  sales_NNS  that_WDT  were_VBD  a_DT  record_NN  for_IN  any_DT  quarter_NN  and_CC  the_DT  eighth_JJ  quarter_NN  in_IN  a_DT  row_NN  of_IN  20_CD  %_NN  or_CC  more_RBR  per-share_JJ  earnings_NNS  growth_NN  ._. 
Spurred_VBN  by_IN  growth_NN  in_IN  world-wide_JJ  sales_NNS  of_IN  the_DT  company_NN  's_POS  prescription_NN  drugs_NNS  ,_,  Warner-Lambert_NNP  said_VBD  1989_CD  will_MD  be_VB  the_DT  best_JJS  year_NN  in_IN  its_PRP$  history_NN  ,_,  with_IN  per-share_JJ  earnings_NNS  expected_VBN  to_TO  increase_VB  more_JJR  than_IN  20_CD  %_NN  to_TO  about_RB  $_$  6.10_CD  ._. 
Sales_NNS  for_IN  the_DT  quarter_NN  rose_VBD  to_TO  $_$  1.11_CD  billion_CD  from_IN  $_$  1.03_CD  billion_CD  ._. 
Prescription-drug_NN  world-wide_JJ  sales_NNS  rose_VBD  9_CD  %_NN  in_IN  the_DT  quarter_NN  to_TO  $_$  340_CD  million_CD  ;_:  U.S._NNP  sales_NNS  rose_VBD  15_CD  %_NN  ._. 
The_DT  segment_NN  's_POS  growth_NN  was_VBD  led_VBN  by_IN  sales_NNS  of_IN  the_DT  cardiovascular_JJ  drugs_NNS  Lopid_NNP  ,_,  a_DT  lipid_NN  regulator_NN  ,_,  and_CC  Dilzem_NNP  ,_,  a_DT  calcium_NN  channel_NN  blocker_NN  ._. 
World-wide_JJ  sales_NNS  of_IN  Warner-Lambert_NNP  's_POS  non-prescription_JJ  health-care_NN  products_NNS  ,_,  such_JJ  as_IN  Halls_NNP  cough_NN  tablets_NNS  ,_,  Rolaids_NNP  antacid_NN  ,_,  and_CC  Lubriderm_NNP  skin_NN  lotion_NN  ,_,  increased_VBN  3_CD  %_NN  to_TO  $_$  362_CD  million_CD  in_IN  the_DT  third_JJ  quarter_NN  ;_:  U.S._NNP  sales_NNS  rose_VBD  5_NN  %_NN  ._. 
Confectionery_JJ  products_NNS  sales_NNS  also_RB  had_VBD  strong_JJ  growth_NN  in_IN  the_DT  quarter_NN  ._. 
World-wide_JJ  sales_NNS  of_IN  Trident_NNP  gum_NN  ,_,  Certs_NNP  breath_NN  mints_NNS  ,_,  and_CC  Clorets_NNP  gum_NN  and_CC  breath_NN  mints_NNS  ,_,  increased_VBN  12_CD  %_NN  to_TO  $_$  277_CD  million_CD  ._. 
Warner-Lambert_NNP  shares_NNS  closed_VBD  at_IN  $_$  109.50_CD  a_DT  share_NN  ,_,  up_IN  $_$  1.50_CD  ,_,  in_IN  Big_NNP  Board_NNP  composite_JJ  trading_NN  yesterday_NN  ._. 
Eli_NNP  Lilly_NNP  &_CC  Co_NNP  ._. 
Lilly_NNP  attributed_VBD  record_NN  third-quarter_JJ  and_CC  nine-month_JJ  results_NNS  to_TO  world-wide_JJ  gains_NNS  for_IN  pharmaceuticals_NNS  ,_,  medical_JJ  instruments_NNS  and_CC  plant-science_NN  products_NNS  despite_IN  poor_JJ  exchange_NN  rates_NNS  for_IN  the_DT  dollar_NN  that_WDT  slowed_VBD  sales_NNS  abroad_RB  ._. 
Earnings_NNS  continued_VBD  to_TO  pace_VB  sales_NNS  because_IN  of_IN  a_DT  lower_JJR  tax_NN  rate_NN  ,_,  profit_NN  from_IN  the_DT  renegotiation_NN  of_IN  the_DT  debt_NN  instrument_NN  received_VBD  from_IN  Faberge_NNP  Inc._NNP  in_IN  connection_NN  with_IN  Lilly_NNP  's_POS  sale_NN  of_IN  Elizabeth_NNP  Arden_NNP  Inc._NNP  in_IN  1987_CD  ,_,  and_CC  net_JJ  proceeds_NNS  from_IN  the_DT  settlement_NN  of_IN  patent_NN  litigation_NN  at_IN  Lilly_NNP  's_POS  Hybritech_NNP  Inc._NNP  unit_NN  ._. 
Third-quarter_JJ  sales_NNS  of_IN  the_DT  Indianapolis_NNP  ,_,  Ind._NNP  ,_,  company_NN  rose_VBD  11_CD  %_NN  to_TO  $_$  1.045_CD  billion_CD  from_IN  $_$  940.6_CD  million_CD  ._. 
Nine-month_JJ  sales_NNS  grew_VBD  12_CD  %_NN  to_TO  $_$  3.39_CD  billion_CD  from_IN  $_$  3.03_CD  billion_CD  a_DT  year_NN  earlier_RBR  ._. 
Sales_NNS  of_IN  Prozac_NNP  ,_,  an_DT  anti-depressant_NN  ,_,  led_VBN  drug-sales_NNS  increases_NNS  ._. 
Higher_JJR  sales_NNS  of_IN  pesticides_NNS  and_CC  other_JJ  plant-science_NN  products_NNS  more_JJR  than_IN  offset_VB  a_DT  slight_JJ  decline_NN  in_IN  the_DT  sales_NNS  of_IN  animal-health_NN  products_NNS  to_TO  fuel_VB  the_DT  increase_NN  in_IN  world-wide_JJ  agricultural_JJ  product_NN  sales_NNS  ,_,  Lilly_NNP  said_VBD  ._. 
Advanced_NNP  Cardiovascular_NNP  Systems_NNP  Inc._NNP  and_CC  Cardiac_NNP  Pacemakers_NNPS  Inc._NNP  units_NNS  led_VBD  growth_NN  in_IN  the_DT  medical-instrument_JJ  systems_NNS  division_NN  ._. 
Lilly_NNP  shares_NNS  closed_VBD  yesterday_NN  in_IN  composite_JJ  trading_NN  on_IN  the_DT  Big_NNP  Board_NNP  at_IN  $_$  62.25_CD  ,_,  down_RB  12.5_CD  cents_NNS  ._. 
Reuben_NNP  Mark_NNP  ,_,  chairman_NN  of_IN  Colgate-Palmolive_NNP  Co._NNP  ,_,  said_VBD  he_PRP  is_VBZ  ``_``  comfortable_JJ  ''_''  with_IN  analysts_NNS  '_POS  estimates_NNS  that_IN  third-quarter_JJ  earnings_NNS  rose_VBD  to_TO  between_IN  95_CD  cents_NNS  and_CC  $_$  1.05_CD  a_DT  share_NN  ._. 
That_DT  compares_VBZ  with_IN  per-share_JJ  earnings_NNS  from_IN  continuing_VBG  operations_NNS  of_IN  69_CD  cents_NNS  the_DT  year_NN  earlier_RBR  ;_:  including_VBG  discontinued_VBN  operations_NNS  ,_,  per-share_NN  was_VBD  88_CD  cents_NNS  a_DT  year_NN  ago_RB  ._. 
The_DT  per-share_JJ  estimates_NNS  mean_VBP  the_DT  consumer-products_NNS  company_NN  's_POS  net_JJ  income_NN  ,_,  increased_VBN  to_TO  between_IN  $_$  69.5_CD  million_CD  and_CC  $_$  76_CD  million_CD  ,_,  from_IN  $_$  47.1_CD  million_CD  the_DT  year-before_JJ  period_NN  ._. 
Analysts_NNS  estimate_VBP  Colgate_NNP  's_POS  world-wide_JJ  third-quarter_JJ  sales_NNS  rose_VBD  about_IN  8_CD  %_NN  to_TO  $_$  1.29_CD  billion_CD  ._. 
Mr._NNP  Mark_NNP  attributed_VBD  the_DT  earnings_NNS  growth_NN  to_TO  strong_JJ  sales_NNS  in_IN  Latin_NNP  America_NNP  ,_,  Asia_NNP  and_CC  Europe_NNP  ._. 
Results_NNS  were_VBD  also_RB  bolstered_VBN  by_IN  ``_``  a_DT  very_RB  meaningful_JJ  ''_''  increase_NN  in_IN  operating_VBG  profit_NN  by_IN  Colgate_NNP  's_POS  U.S._NNP  business_NN  ,_,  Mr._NNP  Mark_NNP  said_VBD  ._. 
Operating_NN  profit_NN  at_IN  Colgate_NNP  's_POS  U.S._NNP  household_NN  products_NNS  and_CC  personal-care_JJ  businesses_NNS  jumped_VBD  25_CD  %_NN  in_IN  the_DT  quarter_NN  ,_,  Mr._NNP  Mark_NNP  added_VBD  ._. 
He_PRP  said_VBD  the_DT  improvement_NN  was_VBD  a_DT  result_NN  of_IN  cost_NN  savings_NNS  achieved_VBN  by_IN  consolidating_VBG  manufacturing_NN  operations_NNS  ,_,  blending_VBG  two_CD  sales_NNS  organizations_NNS  and_CC  focusing_VBG  more_RBR  carefully_RB  the_DT  company_NN  's_POS  promotional_JJ  activities_NNS  ._. 
The_DT  estimated_VBN  improvement_NN  in_IN  Colgate_NNP  's_POS  U.S._NNP  operations_NNS  took_VBD  some_DT  analysts_NNS  by_IN  surprise_NN  ._. 
Colgate_NNP  's_POS  household_NN  products_NNS  business_NN  ,_,  which_WDT  includes_VBZ  such_JJ  brands_NNS  as_IN  Fab_NNP  laundry_NN  detergent_NN  and_CC  Ajax_NNP  cleanser_NN  ,_,  has_VBZ  been_VBN  a_DT  weak_JJ  performer_NN  ._. 
Analysts_NNS  estimate_VBP  Colgate_NNP  's_POS  sales_NNS  of_IN  household_NN  products_NNS  in_IN  the_DT  U.S._NNP  were_VBD  flat_JJ  for_IN  the_DT  quarter_NN  ,_,  and_CC  they_PRP  estimated_VBD  operating_VBG  margins_NNS  at_IN  only_RB  1_CD  %_NN  to_TO  3_CD  %_NN  ._. 
``_``  If_IN  you_PRP  could_MD  say_VB  their_PRP$  business_NN  in_IN  the_DT  U.S._NNP  was_VBD  mediocre_JJ  ,_,  but_CC  great_JJ  everywhere_RB  else_RB  ,_,  that_WDT  would_MD  be_VB  fine_JJ  ,_,  ''_''  says_VBZ  Bonita_NNP  Austin_NNP  ,_,  an_DT  analyst_NN  with_IN  Wertheim_NNP  Schroder_NNP  &_CC  Co_NNP  ._. 
``_``  But_CC  it_PRP  's_VBZ  not_RB  mediocre_JJ  ,_,  it_PRP  's_VBZ  a_DT  real_JJ  problem_NN  ._.  ''_'' 
Mr._NNP  Mark_NNP  conceded_VBD  that_IN  Colgate_NNP  's_POS  domestic_JJ  business_NN  ,_,  apart_RB  from_IN  its_PRP$  highly_RB  profitable_JJ  Hill_NNP  's_POS  Pet_NNP  Products_NNPS  unit_NN  ,_,  has_VBZ  lagged_VBN  ._. 
``_``  We_PRP  've_VBP  done_VBN  a_DT  lot_NN  to_TO  improve_VB  -LCB-_(  U.S._NNP  ._.  -RCB-_)  results_NNS  ,_,  and_CC  a_DT  lot_NN  more_JJR  will_MD  be_VB  done_VBN  ,_,  ''_''  Mr._NNP  Mark_NNP  said_VBD  ._. 
``_``  Improving_VBG  profitability_NN  of_IN  U.S._NNP  operations_NNS  is_VBZ  an_DT  extremely_RB  high_JJ  priority_NN  in_IN  the_DT  company_NN  ._.  ''_'' 
To_TO  focus_VB  on_IN  its_PRP$  global_JJ  consumer-products_NNS  business_NN  ,_,  Colgate_NNP  sold_VBD  its_PRP$  Kendall_NNP  health-care_NN  business_NN  in_IN  1988_CD  ._. 
H._NNP  Anthony_NNP  Ittleson_NNP  was_VBD  elected_VBN  a_DT  director_NN  of_IN  this_DT  company_NN  ,_,  which_WDT  primarily_RB  has_VBZ  interests_NNS  in_IN  radio_NN  and_CC  television_NN  stations_NNS  ,_,  increasing_VBG  the_DT  number_NN  of_IN  seats_NNS  to_TO  five_CD  ._. 
Osborn_NNP  also_RB  operates_VBZ  Muzak_NNP  franchises_NNS  ,_,  entertainment_NN  properties_NNS  and_CC  small_JJ  cable-television_NN  systems_NNS  ._. 
Mr._NNP  Ittleson_NNP  is_VBZ  executive_NN  ,_,  special_JJ  projects_NNS  ,_,  at_IN  CIT_NNP  Group_NNP  Holdings_NNP  Inc._NNP  ,_,  which_WDT  is_VBZ  controlled_VBN  by_IN  Manufacturers_NNP  Hanover_NNP  Corp_NNP  ._. 
The_DT  Boston_NNP  Globe_NNP  says_VBZ  its_PRP$  newly_RB  redesigned_VBN  pages_NNS  have_VBP  a_DT  ``_``  crisper_NN  ''_''  look_VB  with_IN  revamped_VBN  fixtures_NNS  aimed_VBN  at_IN  making_VBG  the_DT  paper_NN  ``_``  more_RBR  consistent_JJ  ''_''  and_CC  ``_``  easier_JJR  to_TO  read_VB  ._.  ''_'' 
Maybe_RB  so_RB  --_:  if_IN  you_PRP  can_MD  find_VB  where_WRB  your_PRP$  favorite_JJ  writer_NN  went_VBD  ._. 
Beantown_NNP  scribes_NNS  ,_,  who_WP  spare_VB  no_DT  invective_NN  when_WRB  taking_VBG  on_IN  local_JJ  luminaries_NNS  such_JJ  as_IN  Michael_NNP  ``_``  Pee_NNP  Wee_NNP  ''_''  Dukakis_NNP  ,_,  or_CC  New_NNP  England_NNP  Patriots_NNPS  Coach_NNP  Raymond_NNP  ``_``  Rev._NNP  Ray_NNP  ''_''  Berry_NNP  ,_,  yesterday_NN  poured_VBD  ridicule_NN  on_IN  new_JJ  drawings_NNS  of_IN  Globe_NNP  columnists_NNS  that_WDT  replaced_VBD  old_JJ  photos_NNS  in_IN  the_DT  revamped_VBN  pages_NNS  this_DT  week_NN  ._. 
By_IN  late_JJ  last_JJ  night_NN  ,_,  Globe_NNP  Managing_NNP  Editor_NNP  Thomas_NNP  Mulvoy_NNP  ,_,  bending_VBG  to_TO  the_DT  will_MD  of_IN  his_PRP$  troops_NNS  ,_,  scrapped_VBD  the_DT  new_JJ  drawings_NNS  ._. 
For_IN  a_DT  few_JJ  days_NNS  at_IN  least_JJS  ,_,  he_PRP  says_VBZ  ,_,  no_DT  pictures_NNS  or_CC  drawings_NNS  of_IN  any_DT  kind_NN  will_MD  adorn_VB  the_DT  columns_NNS  ._. 
Trouble_NN  was_VBD  ,_,  nobody_NN  thought_VBD  they_PRP  looked_VBD  right_NN  ._. 
Globe_NNP  columnist_NN  Mike_NNP  Barnicle_NNP  --_:  in_IN  the_DT  second_JJ  attack_NN  on_IN  his_PRP$  employer_NN  in_IN  as_IN  many_JJ  weeks_NNS  --_:  averred_VBD  that_IN  his_PRP$  shadowy_JJ  countenance_NN  was_VBD  so_RB  bad_JJ  ,_,  it_PRP  looked_VBD  ``_``  like_IN  a_DT  face_NN  you_PRP  'd_MD  find_VB  on_IN  a_DT  bottle_NN  of_IN  miracle_NN  elixir_NN  that_WDT  promises_VBZ  to_TO  do_VB  away_RB  with_IN  diarrhea_NN  in_IN  our_PRP$  lifetime_NN  ._.  ''_'' 
Mr._NNP  Barnicle_NNP  reminded_VBD  readers_NNS  that_IN  he_PRP  still_RB  has_VBZ  n't_RB  forgiven_VBN  Globe_NNP  management_NN  for_IN  questioning_VBG  a_DT  $_$  20_CD  expense_NN  chit_NN  he_PRP  submitted_VBD  for_IN  parking_VBG  his_PRP$  car_NN  while_IN  chasing_VBG  a_DT  story_NN  ._. 
``_``  I_PRP  thought_VBD  -LCB-_(  the_DT  drawing_VBG  -RCB-_)  a_DT  cross_NN  between_IN  someone_NN  you_PRP  'd_MD  spot_VB  whipping_VBG  open_JJ  his_PRP$  trench_NN  coat_NN  ..._:  or_CC  a_DT  guy_NN  who_WP  boasted_VBD  he_PRP  'd_MD  been_VBN  Charles_NNP  Manson_NNP  's_POS  roommate_NN  for_IN  the_DT  last_JJ  19_CD  years_NNS  ,_,  ''_''  he_PRP  said_VBD  ._. 
Mr._NNP  Barnicle_NNP  was_VBD  hardly_RB  kinder_JJR  to_TO  the_DT  renderings_NNS  of_IN  colleagues_NNS  Michael_NNP  Madden_NNP  -LRB-_(  ``_``  appears_VBZ  to_TO  be_VB  a_DT  pervert_NN  ''_''  -RRB-_)  ,_,  Will_MD  McDonough_NNP  -LRB-_(  ``_``  looks_VBZ  as_IN  if_IN  he_PRP  drove_VBD  for_IN  Abe_NNP  Lincoln_NNP  ''_''  -RRB-_)  or_CC  Bella_NNP  English_NNP  ,_,  whose_WP$  ``_``  little_JJ  girl_NN  now_RB  screams_VBZ  hysterically_RB  every_DT  time_NN  she_PRP  sees_VBZ  a_DT  newspaper_NN  ._.  ''_'' 
Lynn_NNP  Staley_NNP  ,_,  the_DT  Globe_NNP  's_POS  assistant_NN  managing_VBG  editor_NN  for_IN  design_NN  ,_,  acknowledges_VBZ  that_IN  the_DT  visages_NNS  were_VBD  ``_``  on_IN  the_DT  low_JJ  end_NN  of_IN  the_DT  likeness_NN  spectrum_NN  ._.  ''_'' 
Rival_NNP  Boston_NNP  Herald_NNP  columnist_NN  Howie_NNP  Carr_NNP  ,_,  who_WP  usually_RB  rails_VBZ  at_IN  Statehouse_NN  ``_``  hacks_NNS  ''_''  and_CC  nepotism_NN  ,_,  argued_VBD  that_IN  the_DT  new_JJ  drawings_NNS  were_VBD  designed_VBN  to_TO  hide_VB  Mr._NNP  Madden_NNP  's_POS  ``_``  rapidly_RB  growing_VBG  forehead_NN  ''_''  and_CC  the_DT  facial_JJ  defects_NNS  of_IN  ``_``  chinless_JJ  ''_''  Dan_NNP  Shaughnessy_NNP  ,_,  a_DT  Globe_NNP  sports_NNS  columnist_NN  ._. 
``_``  But_CC  think_VBP  of_IN  the_DT  money_NN  you_PRP  ,_,  the_DT  reader_NN  ,_,  will_MD  save_VB  on_IN  Halloween_NNP  ,_,  ''_''  said_VBD  Mr._NNP  Barnicle_NNP  ._. 
``_``  Instead_RB  of_IN  buying_VBG  masks_NNS  for_IN  your_PRP$  kids_NNS  ,_,  just_RB  cut_VB  out_RP  the_IN  columnists_NNS  '_POS  pictures_NNS  ..._:  ._. 
Deeply_RB  ingrained_JJ  in_IN  both_DT  the_DT  book_NN  review_NN  ``_``  Kissing_VBG  Nature_NNP  Good-bye_UH  ''_''  by_IN  Stephen_NNP  MacDonald_NNP  -LRB-_(  Leisure_NNP  &_CC  Arts_NNP  ,_,  Sept._NNP  27_CD  -RRB-_)  and_CC  the_DT  books_NNS  reviewed_VBN  is_VBZ  the_DT  assumption_NN  that_IN  global_JJ  warming_NN  is_VBZ  entirely_RB  a_DT  result_NN  of_IN  human_JJ  activity_NN  ._. 
Is_VBZ  such_JJ  a_DT  view_NN  justified_VBN  ?_. 
In_IN  the_DT  absence_NN  of_IN  humans_NNS  ,_,  would_MD  the_DT  Earth_NNP  enjoy_VB  a_DT  constant_JJ  climate_NN  over_IN  the_DT  long_JJ  term_NN  ?_. 
Clearly_RB  not_RB  ._. 
About_IN  20,000_CD  years_NNS  ago_RB  the_DT  last_JJ  ice_NN  age_NN  ended_VBD  ._. 
Enormous_JJ  ice_NN  sheets_NNS  retreated_VBD  from_IN  the_DT  face_NN  of_IN  North_NNP  America_NNP  ,_,  northern_JJ  Europe_NNP  and_CC  Asia_NNP  ._. 
This_DT  global_JJ  warming_NN  must_MD  have_VB  been_VBN  entirely_RB  natural_JJ  --_:  nobody_NN  would_MD  blame_VB  it_PRP  on_IN  a_DT  few_JJ  hundred_CD  thousand_CD  hunter-gatherers_NNS  hunting_NN  mammoths_NNS  and_CC  scratching_VBG  around_IN  in_IN  caves_NNS  ._. 
Furthermore_RB  ,_,  no_DT  bell_NN  has_VBZ  yet_RB  rung_VBN  to_TO  announce_VB  the_DT  end_NN  of_IN  this_DT  immense_JJ  episode_NN  of_IN  natural_JJ  global_JJ  warming_NN  ._. 
It_PRP  is_VBZ  probably_RB  continuing_VBG  and_CC  may_MD  well_RB  account_VB  for_IN  most_RBS  of_IN  ,_,  or_CC  all_DT  of_IN  ,_,  present-day_JJ  global_JJ  warming_NN  ._. 
I_PRP  bow_VBP  to_TO  no_DT  one_CD  in_IN  my_PRP$  regard_NN  for_IN  our_PRP$  terrestrial_JJ  heritage_NN  ,_,  but_CC  if_IN  we_PRP  are_VBP  serious_JJ  about_IN  global_JJ  warming_NN  we_PRP  must_MD  look_VB  at_IN  the_DT  big_JJ  picture_NN  and_CC  not_RB  allow_VB  the_DT  Dominant_NNP  Culture_NNP  to_TO  lock_VB  us_PRP  into_IN  the_DT  capitalist-exploiters-greedy-American-consumers-global_JJ  -_:  warming_NN  scenario_NN  as_IN  the_DT  sole_JJ  model_NN  for_IN  discussion_NN  ._. 
Jocelyn_NNP  Tomkin_NNP  Astronomy_NNP  Department_NNP  University_NNP  of_IN 
The_DT  Internal_NNP  Revenue_NNP  Service_NNP  plans_VBZ  to_TO  restructure_VB  itself_PRP  more_JJR  like_IN  a_DT  private_JJ  corporation_NN  ._. 
In_IN  addition_NN  ,_,  the_DT  tax-collecting_JJ  agency_NN  says_VBZ  that_IN  it_PRP  will_MD  take_VB  the_DT  unusual_JJ  step_NN  of_IN  looking_VBG  to_TO  the_DT  private_JJ  sector_NN  to_TO  fill_VB  two_CD  new_JJ  high-level_JJ  positions_NNS  to_TO  guide_VB  the_DT  120,000-employee_JJ  agency_NN  :_:  a_DT  comptroller_NN  to_TO  oversee_VB  daily_JJ  finances_NNS  and_CC  a_DT  chief_JJ  information_NN  officer_NN  to_TO  update_VB  the_DT  information_NN  system_NN  ,_,  which_WDT  includes_VBZ  probably_RB  the_DT  largest_JJS  computer_NN  data_NNS  base_VBP  in_IN  the_DT  world_NN  ._. 
The_DT  IRS_NNP  also_RB  said_VBD  that_IN  it_PRP  would_MD  create_VB  the_DT  position_NN  of_IN  chief_JJ  financial_JJ  officer_NN  ,_,  who_WP  will_MD  be_VB  hired_VBN  from_IN  within_IN  the_DT  agency_NN  ._. 
IRS_NNP  Commissioner_NNP  Fred_NNP  T._NNP  Goldberg_NNP  said_VBD  the_DT  changes_NNS  are_VBP  intended_VBN  to_TO  bring_VB  ``_``  accountability_NN  ''_''  to_TO  the_DT  agency_NN  ,_,  which_WDT  has_VBZ  an_DT  annual_JJ  budget_NN  of_IN  more_JJR  than_IN  $_$  5_NN  billion_CD  and_CC  collects_VBZ  about_RB  $_$  1_CD  trillion_CD  a_DT  year_NN  ._. 
``_``  My_PRP$  assessment_NN  and_CC  everyone_NN  's_POS  assessment_NN  is_VBZ  that_IN  we_PRP  do_VBP  not_RB  have_VB  the_DT  kinds_NNS  of_IN  information_NN  that_WDT  let_VBP  us_PRP  responsibly_RB  and_CC  effectively_RB  formulate_VB  and_CC  execute_VB  our_PRP$  budget_NN  ,_,  ''_''  Mr._NNP  Goldberg_NNP  said_VBD  ._. 
``_``  And_CC  we_PRP  do_VBP  n't_RB  have_VB  internal_JJ  controls_NNS  and_CC  discipline_NN  that_IN  we_PRP  need_VBP  to_TO  have_VB  to_TO  spend_VB  $_$  5_NN  billion_CD  properly_RB  ._.  ''_'' 
Mr._NNP  Goldberg_NNP  ,_,  who_WP  took_VBD  over_IN  as_IN  head_NN  of_IN  the_DT  IRS_NNP  in_IN  July_NNP  ,_,  has_VBZ  been_VBN  disturbed_VBN  by_IN  what_WP  he_PRP  considers_VBZ  the_DT  inefficiency_NN  ,_,  waste_NN  and_CC  lack_NN  of_IN  coordination_NN  among_IN  the_DT  branches_NNS  of_IN  the_DT  vast_JJ  federal_JJ  agency_NN  ._. 
The_DT  IRS_NNP  operates_VBZ  on_IN  a_DT  computer_NN  system_NN  designed_VBN  in_IN  1961_CD  ,_,  which_WDT  it_PRP  has_VBZ  been_VBN  trying_VBG  to_TO  modernize_VB  for_IN  years_NNS  ._. 
And_CC  the_DT  agency_NN  ,_,  which_WDT  operated_VBD  throughout_IN  fiscal_JJ  1989_CD  with_IN  a_DT  $_$  360_CD  million_CD  budget_NN  shortfall_NN  ,_,  has_VBZ  been_VBN  under_IN  a_DT  hiring_VBG  freeze_NN  since_IN  last_JJ  fall_NN  ._. 
The_DT  new_JJ  commissioner_NN  says_VBZ  that_IN  closer_JJR  scrutiny_NN  of_IN  how_WRB  the_DT  agency_NN  uses_VBZ  its_PRP$  resources_NNS  will_MD  go_VB  a_DT  long_JJ  way_NN  toward_IN  enhancing_VBG  its_PRP$  ability_NN  to_TO  collect_VB  more_JJR  tax_NN  revenue_NN  ._. 
``_``  I_PRP  think_VBP  that_IN  you_PRP  will_MD  see_VB  a_DT  significant_JJ  improvement_NN  in_IN  the_DT  budget_NN  formulation_NN  and_CC  execution_NN  process_NN  which_WDT  ,_,  in_IN  turn_NN  ,_,  I_PRP  believe_VBP  will_MD  result_VB  in_IN  a_DT  significant_JJ  increase_NN  in_IN  revenue_NN  ,_,  ''_''  he_PRP  said_VBD  ._. 
The_DT  IRS_NNP  hopes_VBZ  to_TO  fill_VB  the_DT  new_JJ  positions_NNS  soon_RB  ._. 
Customarily_RB  ,_,  it_PRP  would_MD  appoint_VB  career_NN  civil_JJ  servants_NNS  from_IN  within_IN  the_DT  agency_NN  ,_,  but_CC  Mr._NNP  Goldberg_NNP  said_VBD  he_PRP  plans_VBZ  to_TO  ``_``  scour_VBP  the_DT  world_NN  ''_''  for_IN  the_DT  chief_JJ  information_NN  officer_NN  and_CC  the_DT  comptroller_NN  ._. 
Although_IN  the_DT  jobs_NNS  will_MD  probably_RB  pay_VB  between_IN  $_$  70,000_CD  and_CC  $_$  80,000_CD  a_DT  year_NN  ,_,  IRS_NNP  officials_NNS  are_VBP  confident_JJ  that_IN  they_PRP  can_MD  attract_VB  top-notch_JJ  candidates_NNS  from_IN  the_DT  private_JJ  sector_NN  ._. 
``_``  You_PRP  're_VBP  telling_VBG  someone_NN  they_PRP  can_MD  spend_VB  the_DT  next_JJ  three_CD  or_CC  four_CD  or_CC  five_CD  or_CC  six_CD  years_NNS  of_IN  their_PRP$  life_NN  bringing_VBG  about_IN  the_DT  most_RBS  difficult_JJ  and_CC  costly_JJ  modernization_NN  of_IN  an_DT  information_NN  system_NN  on_IN  the_DT  civil_JJ  side_NN  ever_RB  ,_,  ''_''  Mr._NNP  Goldberg_NNP  said_VBD  ._. 
``_``  On_IN  the_DT  comptroller_NN  side_NN  ,_,  you_PRP  're_VBP  developing_VBG  and_CC  making_VBG  work_NN  financial_JJ  controls_NNS  governing_VBG  a_DT  $_$  6_CD  billion_CD  budget_NN  ._. 
When_WRB  Maj._NNP  Moises_NNP  Giroldi_NNP  ,_,  the_DT  leader_NN  of_IN  the_DT  abortive_JJ  coup_NN  in_IN  Panama_NNP  ,_,  was_VBD  buried_VBN  ,_,  his_PRP$  body_NN  bore_VBD  several_JJ  gunshot_NN  wounds_NNS  ,_,  a_DT  cracked_VBN  skull_NN  and_CC  broken_VBN  legs_NNS  and_CC  ribs_NNS  ._. 
They_PRP  were_VBD  the_DT  signature_NN  of_IN  his_PRP$  adversary_NN  ,_,  Panamanian_JJ  leader_NN  Manuel_NNP  Antonio_NNP  Noriega_NNP  ._. 
The_DT  rebel_NN  officer_NN  's_POS  slow_JJ  and_CC  painful_JJ  death_NN  ,_,  at_IN  the_DT  headquarters_NN  of_IN  Panama_NNP  's_POS  Battalion-2000_NN  squad_NN  ,_,  was_VBD  personally_RB  supervised_VBN  by_IN  Gen._NNP  Noriega_NNP  ,_,  says_VBZ  a_DT  U.S._NNP  official_NN  with_IN  access_NN  to_TO  intelligence_NN  reports_NNS  ._. 
Leaping_VBG  into_IN  rages_VBZ  ,_,  sinking_VBG  into_IN  bouts_NNS  of_IN  drunkenness_NN  and_CC  mistrust_NN  ,_,  Mr._NNP  Noriega_NNP  has_VBZ  put_VBN  to_TO  death_NN  some_DT  70_CD  of_IN  his_PRP$  troops_NNS  involved_VBN  in_IN  the_DT  coup_NN  ,_,  according_VBG  to_TO  U.S._NNP  officials_NNS  monitoring_NN  crematoriums_NNS  and_CC  funeral_NN  parlors_NNS  in_IN  Panama_NNP  City_NNP  ._. 
He_PRP  is_VBZ  now_RB  changing_VBG  the_DT  place_NN  he_PRP  sleeps_VBZ  every_DT  night_NN  ,_,  sometimes_RB  more_JJR  than_IN  once_RB  a_DT  night_NN  ._. 
His_PRP$  meals_NNS  are_VBP  most_RBS  often_RB  prepared_VBN  by_IN  women_NNS  he_PRP  trusts_VBZ  --_:  his_PRP$  full-time_JJ  mistress_NN  ,_,  Vicky_NNP  Amado_NNP  ,_,  and_CC  her_PRP$  mother_NN  ,_,  Norma_NNP  ._. 
And_CC  he_PRP  is_VBZ  collecting_VBG  the_DT  names_NNS  of_IN  those_DT  who_WP  telephoned_VBD  the_DT  coup-makers_NNS  to_TO  congratulate_VB  them_PRP  during_IN  their_PRP$  brief_JJ  time_NN  in_IN  control_NN  of_IN  his_PRP$  headquarters_NN  ._. 
More_JJR  enemies_NNS  to_TO  be_VB  dealt_VBN  with_RB  ._. 
In_IN  the_DT  two_CD  weeks_NNS  since_IN  the_DT  rebellion_NN  ,_,  which_WDT  the_DT  U.S._NNP  hesitantly_RB  backed_VBD  ,_,  Mr._NNP  Noriega_NNP  has_VBZ  been_VBN  at_IN  his_PRP$  most_RBS  brutal_JJ  -_:  and_CC  efficient_JJ  -_:  in_IN  maintaining_VBG  power_NN  ._. 
Yet_RB  ,_,  while_IN  the_DT  failed_VBN  coup_NN  is_VBZ  a_DT  major_JJ  U.S._NNP  foreign_JJ  policy_NN  embarrassment_NN  ,_,  it_PRP  is_VBZ  merely_RB  the_DT  latest_JJS  chapter_NN  in_IN  a_DT  byzantine_JJ  relationship_NN  between_IN  Mr._NNP  Noriega_NNP  and_CC  Washington_NNP  that_IN  stretches_NNS  back_RB  three_CD  decades_NNS  ._. 
America_NNP  's_POS  war_NN  on_IN  the_DT  dictator_NN  over_IN  the_DT  past_JJ  two_CD  years_NNS  ,_,  following_VBG  his_PRP$  indictment_NN  on_IN  drug_NN  charges_NNS  in_IN  February_NNP  1988_CD  ,_,  is_VBZ  the_DT  legacy_NN  of_IN  that_DT  relationship_NN  ._. 
Before_IN  American_JJ  foreign_JJ  policy_NN  set_VBN  out_IN  to_TO  destroy_VB  Noriega_NNP  ,_,  it_PRP  helped_VBD  create_VB  him_PRP  out_IN  of_IN  the_DT  crucible_NN  of_IN  Panama_NNP  's_POS  long_JJ  history_NN  of_IN  conspirators_NNS  and_CC  pirates_NNS  ._. 
For_IN  most_RBS  of_IN  the_DT  past_JJ  30_CD  years_NNS  ,_,  the_DT  marriage_NN  was_VBD  one_CD  of_IN  convenience_NN  ._. 
In_IN  1960_CD  ,_,  for_IN  example_NN  ,_,  when_WRB  Mr._NNP  Noriega_NNP  was_VBD  both_DT  a_DT  cadet_NN  at_IN  an_DT  elite_NN  military_JJ  academy_NN  in_IN  Peru_NNP  and_CC  a_DT  spy-in-training_NN  for_IN  the_DT  U.S._NNP  Defense_NNP  Intelligence_NNP  Agency_NNP  ,_,  he_PRP  was_VBD  detained_VBN  by_IN  Lima_NNP  authorities_NNS  for_IN  allegedly_RB  raping_VBG  and_CC  savagely_RB  beating_VBG  a_DT  prostitute_NN  ,_,  according_VBG  to_TO  a_DT  U.S._NNP  Embassy_NNP  cable_NN  from_IN  that_DT  period_NN  ._. 
The_DT  woman_NN  had_VBD  nearly_RB  died_VBN  ._. 
But_CC  U.S._NNP  intelligence_NN  ,_,  rather_RB  than_IN  rein_NN  in_IN  or_CC  cut_NN  loose_JJ  its_PRP$  new_JJ  spy_NN  ,_,  merely_RB  filed_VBN  the_DT  report_NN  away_RB  ._. 
Mr._NNP  Noriega_NNP  's_POS  tips_NNS  on_IN  emerging_VBG  leftists_NNS  at_IN  his_PRP$  school_NN  were_VBD  deemed_VBN  more_RBR  important_JJ  to_TO  U.S._NNP  interests_NNS  ._. 
From_IN  that_DT  point_NN  on_IN  ,_,  the_DT  U.S._NNP  would_MD  make_VB  a_DT  practice_NN  of_IN  overlooking_VBG  the_DT  Panamanian_NNP  's_POS  misadventures_NNS  ._. 
The_DT  U.S._NNP  has_VBZ  befriended_VBN  and_CC  later_RB  turned_VBD  against_IN  many_JJ  dictators_NNS  ,_,  but_CC  none_NN  quite_RB  so_RB  resourceful_JJ  ._. 
The_DT  55-year-old_NNP  Mr._NNP  Noriega_NNP  is_VBZ  n't_RB  as_RB  smooth_JJ  as_IN  the_DT  shah_NN  of_IN  Iran_NNP  ,_,  as_RB  well-born_JJ  as_IN  Nicaragua_NNP  's_POS  Anastasio_NNP  Somoza_NNP  ,_,  as_RB  imperial_JJ  as_IN  Ferdinand_NNP  Marcos_NNP  of_IN  the_DT  Philippines_NNP  or_CC  as_RB  bloody_JJ  as_IN  Haiti_NNP  's_POS  Baby_NNP  Doc_NNP  Duvalier_NNP  ._. 
Yet_RB  he_PRP  has_VBZ  proved_VBN  more_RBR  resilient_JJ  than_IN  any_DT  of_IN  them_PRP  ._. 
And_CC  out_IN  of_IN  necessity_NN  :_:  The_DT  U.S._NNP  can_MD  make_VB  mistakes_NNS  and_CC  still_JJ  hope_NN  to_TO  remove_VB  him_PRP  from_IN  power_NN  ,_,  but_CC  a_DT  single_JJ  error_NN  on_IN  his_PRP$  part_NN  could_MD  cost_VB  him_PRP  his_PRP$  life_NN  ._. 
``_``  The_DT  U.S._NNP  underestimated_VBD  Noriega_NNP  all_DT  along_IN  ,_,  ''_''  says_VBZ  Ambler_NNP  Moss_NNP  ,_,  a_DT  former_JJ  Ambassador_NNP  to_TO  Panama_NNP  ._. 
``_``  He_PRP  has_VBZ  mastered_VBN  the_DT  art_NN  of_IN  survival_NN  ._.  ''_'' 
In_IN  keeping_VBG  with_IN  America_NNP  's_POS  long_JJ  history_NN  of_IN  propping_VBG  up_IN  Mr._NNP  Noriega_NNP  ,_,  recent_JJ  U.S._NNP  actions_NNS  have_VBP  extended_VBN  rather_RB  than_IN  shortened_VBN  his_PRP$  survival_NN  ._. 
Mr._NNP  Noriega_NNP  might_MD  have_VB  fallen_VBN  of_IN  his_PRP$  own_JJ  weight_NN  in_IN  1988_CD  because_IN  of_IN  Panama_NNP  's_POS  dire_JJ  economic_JJ  situation_NN  ,_,  says_VBZ  Mr._NNP  Moss_NNP  ,_,  but_CC  increasing_VBG  external_JJ  pressure_NN  has_VBZ  only_RB  given_VBN  him_PRP  additional_JJ  excuses_NNS  for_IN  repression_NN  ,_,  and_CC  a_DT  scapegoat_NN  for_IN  his_PRP$  own_JJ  mismanagement_NN  ._. 
``_``  If_IN  the_DT  U.S._NNP  had_VBD  sat_VBN  back_RB  and_CC  done_VBN  nothing_NN  ,_,  he_PRP  might_MD  not_RB  have_VB  made_VBN  it_PRP  through_IN  1988_CD  ,_,  ''_''  Mr._NNP  Moss_NNP  contends_VBZ  ._. 
Perhaps_RB  most_RBS  important_JJ  ,_,  Mr._NNP  Noriega_NNP  's_POS  allies_NNS  have_VBP  intervened_VBN  to_TO  encourage_VB  --_:  in_IN  some_DT  cases_NNS  ,_,  to_TO  demand_VB  --_:  that_IN  the_DT  dictator_NN  maintain_VB  his_PRP$  grip_NN  of_IN  the_DT  throne_NN  ._. 
One_CD  Colombian_JJ  drug_NN  boss_NN  ,_,  upon_IN  hearing_NN  in_IN  1987_CD  that_IN  Gen._NNP  Noriega_NNP  was_VBD  negotiating_VBG  with_IN  the_DT  U.S._NNP  to_TO  abandon_VB  his_PRP$  command_NN  for_IN  a_DT  comfortable_JJ  exile_NN  ,_,  sent_VBD  him_PRP  a_DT  hand-sized_JJ  mahogany_NN  coffin_NN  engraved_VBN  with_IN  his_PRP$  name_NN  ._. 
``_``  He_PRP  is_VBZ  cornered_VBN  ,_,  ''_''  says_VBZ  the_DT  Rev._NNP  Fernando_NNP  Guardia_NNP  ,_,  who_WP  has_VBZ  led_VBN  Catholic_NNP  Church_NNP  opposition_NN  against_IN  Noriega_NNP  ._. 
``_``  The_DT  Americans_NNPS  have_VBP  left_VBN  him_PRP  without_IN  a_DT  way_NN  out_RB  ._. 
It_PRP  is_VBZ  easy_JJ  to_TO  fight_VB  when_WRB  you_PRP  do_VBP  n't_RB  have_VB  any_DT  other_JJ  option_NN  ._.  ''_'' 
His_PRP$  chief_JJ  advantage_NN  in_IN  the_DT  fight_NN  :_:  his_PRP$  intimate_JJ  knowledge_NN  of_IN  American_JJ  ways_NNS  and_CC  weaknesses_NNS  ._. 
Mr._NNP  Noriega_NNP  often_RB  tells_VBZ  friends_NNS  that_WDT  patience_NN  is_VBZ  the_DT  best_JJS  weapon_NN  against_IN  the_DT  gringos_NNS  ,_,  who_WP  have_VBP  a_DT  short_JJ  attention_NN  span_NN  and_CC  little_JJ  stomach_NN  for_IN  lasting_VBG  confrontation_NN  ._. 
The_DT  U.S._NNP  discovered_VBD  the_DT  young_JJ  Tony_NNP  Noriega_NNP  in_IN  late_JJ  1959_CD  ,_,  when_WRB  he_PRP  was_VBD  in_IN  his_PRP$  second_JJ  year_NN  at_IN  the_DT  Chorrillos_NNP  Military_NNP  Academy_NNP  in_IN  Lima_NNP  ,_,  according_VBG  to_TO  former_JJ  U.S._NNP  intelligence_NN  officials_NNS  ._. 
The_DT  contact_NN  occurred_VBD  through_IN  Mr._NNP  Noriega_NNP  's_POS  half-brother_NN  ,_,  a_DT  Panamanian_JJ  diplomat_NN  based_VBN  in_IN  Peru_NNP  named_VBD  Luis_NNP  Carlos_NNP  Noriega_NNP  Hurtado_NNP  ._. 
Luis_NNP  Carlos_NNP  ,_,  knowing_VBG  that_IN  helping_VBG  the_DT  Americans_NNPS  could_MD  advance_VB  the_DT  career_NN  of_IN  any_DT  Panamanian_JJ  officer_NN  ,_,  relayed_VBD  Tony_NNP  's_POS  reports_NNS  on_IN  the_DT  leftist_JJ  tendencies_NNS  he_PRP  observed_VBD  among_IN  his_PRP$  fellow_NN  students_NNS  and_CC  ,_,  more_RBR  important_JJ  ,_,  among_IN  his_PRP$  officers_NNS  and_CC  instructors_NNS  ._. 
A_DT  spy_NN  was_VBD  born_VBN  ._. 
It_PRP  was_VBD  a_DT  heady_JJ  experience_NN  for_IN  the_DT  pockmarked_JJ  and_CC  slightly_RB  built_VBN  Mr._NNP  Noriega_NNP  ,_,  who_WP  was_VBD  known_VBN  to_TO  his_PRP$  friends_NNS  as_IN  Cara_NNP  la_FW  Pina_NNP  --_:  pineapple_NN  face_NN  ._. 
Born_VBN  the_DT  illegitimate_JJ  son_NN  of_IN  his_PRP$  father_NN  's_POS  maid_NN  ,_,  he_PRP  was_VBD  raised_VBN  on_IN  the_DT  mean_NN  streets_NNS  of_IN  the_DT  central_JJ  market_NN  district_NN  of_IN  Panama_NNP  City_NNP  ._. 
Tony_NNP  was_VBD  four_CD  years_NNS  older_JJR  than_IN  most_RBS  of_IN  his_PRP$  fellow_NN  cadets_NNS  ,_,  and_CC  gained_VBD  admission_NN  to_TO  the_DT  academy_NN  because_IN  his_PRP$  brother_NN  had_VBD  falsified_VBN  his_PRP$  birth_NN  certificate_NN  ._. 
He_PRP  considered_VBD  himself_PRP  intellectually_RB  superior_JJ  to_TO  his_PRP$  Peruvian_JJ  peers_NNS  ,_,  many_NN  of_IN  whom_WP  were_VBD  wayward_JJ  sons_NNS  sent_VBN  by_IN  their_PRP$  well-off_JJ  families_NNS  to_TO  the_DT  highly_RB  disciplined_VBN  ,_,  French-modeled_JJ  academy_NN  as_IN  a_DT  sort_NN  of_IN  reform_NN  school_NN  ._. 
In_IN  his_PRP$  peaked_VBD  military_JJ  cap_NN  and_CC  neatly_RB  pressed_VBN  ,_,  French-made_JJ  uniform_NN  ,_,  Noriega_NNP  felt_VBD  more_RBR  respected_VBN  and_CC  powerful_JJ  than_IN  ever_RB  in_IN  his_PRP$  underprivileged_JJ  life_NN  ,_,  friends_NNS  from_IN  the_DT  period_NN  say_VBP  ._. 
``_``  He_PRP  had_VBD  an_DT  elegant_JJ  uniform_NN  with_IN  gold_NN  buttons_NNS  in_IN  a_DT  country_NN  where_WRB  there_EX  was_VBD  a_DT  cult_NN  of_IN  militarism_NN  ,_,  where_WRB  officers_NNS  were_VBD  the_DT  elite_NN  with_IN  special_JJ  privileges_NNS  ,_,  ''_''  recalls_VBZ  Darien_NNP  Ayala_NNP  ,_,  a_DT  fellow_NN  student_NN  in_IN  Peru_NNP  and_CC  a_DT  lifelong_JJ  friend_NN  ._. 
Mr._NNP  Noriega_NNP  's_POS  relationship_NN  to_TO  American_JJ  intelligence_NN  agencies_NNS  became_VBD  contractual_JJ  in_IN  either_DT  1966_CD  or_CC  1967_CD  ,_,  intelligence_NN  officials_NNS  say_VBP  ._. 
His_PRP$  commanding_NN  officer_NN  at_IN  the_DT  Chiriqui_NNP  Province_NNP  garrison_NN  ,_,  Major_NNP  Omar_NNP  Torrijos_NNP  ,_,  gave_VBD  him_PRP  an_DT  intriguing_JJ  assignment_NN  :_:  Mr._NNP  Noriega_NNP  would_MD  organize_VB  the_DT  province_NN  's_POS  first_JJ  intelligence_NN  service_NN  ._. 
The_DT  spy_NN  network_NN  would_MD  serve_VB  two_CD  clients_NNS  :_:  the_DT  Panamanian_JJ  government_NN  ,_,  by_IN  monitoring_VBG  political_JJ  opponents_NNS  in_IN  the_DT  region_NN  ,_,  and_CC  the_DT  U.S._NNP  ,_,  by_IN  tracking_VBG  the_DT  growing_VBG  Communist_NNP  influence_NN  in_IN  the_DT  unions_NNS  organized_VBN  at_IN  United_NNP  Fruit_NNP  Co._NNP  's_POS  banana_NN  plantations_NNS  in_IN  Bocas_NNP  del_NNP  Toros_NNP  and_CC  Puerto_NNP  Armuelles_NNP  ._. 
United_NNP  Fruit_NNP  was_VBD  one_CD  of_IN  the_DT  two_CD  largest_JJS  contributors_NNS  to_TO  Panama_NNP  's_POS  national_JJ  income_NN  ._. 
Satisfying_VBG  its_PRP$  interests_NNS  was_VBD  a_DT  priority_NN  for_IN  any_DT  Panamanian_JJ  leader_NN  ._. 
Mr._NNP  Noriega_NNP  's_POS  initial_JJ  retainer_NN  was_VBD  only_RB  $_$  50_CD  to_TO  $_$  100_CD  a_DT  month_NN  ,_,  plus_CC  occasional_JJ  gifts_NNS  of_IN  liquor_NN  or_CC  groceries_NNS  from_IN  the_DT  American_NNP  PX_NNP  ,_,  a_DT  former_JJ  intelligence_NN  official_NN  says_NNS  ._. 
It_PRP  was_VBD  modest_JJ  pay_NN  by_IN  American_JJ  standards_NNS  ,_,  but_CC  a_DT  healthy_JJ  boost_NN  to_TO  his_PRP$  small_JJ  military_JJ  salary_NN  ,_,  which_WDT  fellow_NN  officers_NNS  remember_VBP  as_IN  having_VBG  been_VBN  $_$  300_CD  to_TO  $_$  400_CD  monthly_JJ  ._. 
``_``  He_PRP  did_VBD  it_PRP  very_RB  well_RB  ,_,  ''_''  recalls_VBZ  Boris_NNP  Martinez_NNP  ,_,  a_DT  former_JJ  Panamanian_JJ  colonel_NN  who_WP  managed_VBD  Mr._NNP  Noriega_NNP  and_CC  his_PRP$  operation_NN  ._. 
``_``  He_PRP  started_VBD  building_VBG  the_DT  files_NNS  that_WDT  helped_VBD  him_PRP  gain_VBP  power_NN  ._.  ''_'' 
A_DT  National_NNP  Guard_NNP  job_NN  assumed_VBN  by_IN  Capt._NNP  Noriega_NNP  in_IN  1964_CD  --_:  as_IN  chief_NN  of_IN  the_DT  transit_NN  police_NN  in_IN  David_NNP  City_NNP  ,_,  capital_NN  of_IN  the_DT  Chiriqui_NNP  Province_NNP  --_:  was_VBD  tailor-made_JJ  for_IN  an_DT  aspiring_JJ  super-spy_NN  ._. 
By_IN  pressuring_VBG  taxi_NN  and_CC  bus_NN  drivers_NNS  who_WP  needed_VBD  licenses_NNS  ,_,  he_PRP  gained_VBD  a_DT  ready_JJ  cache_NN  of_IN  information_NN  ._. 
He_PRP  knew_VBD  which_WDT  local_JJ  luminaries_NNS  had_VBD  been_VBN  caught_VBN  driving_VBG  drunk_JJ  ,_,  which_WDT  had_VBD  been_VBN  found_VBN  with_IN  their_PRP$  mistresses_NNS  ._. 
This_DT  proved_VBD  particularly_RB  valuable_JJ  to_TO  the_DT  Panamanian_JJ  government_NN  in_IN  1967_CD  ,_,  when_WRB  union_NN  leaders_NNS  were_VBD  planning_VBG  a_DT  May_NNP  Day_NNP  march_NN  that_IN  the_DT  government_NN  feared_VBD  could_MD  turn_VB  violent_JJ  ._. 
Mr._NNP  Noriega_NNP  had_VBD  learned_VBN  that_IN  a_DT  local_JJ  union_NN  leader_NN  was_VBD  sleeping_VBG  with_IN  the_DT  wife_NN  of_IN  his_PRP$  deputy_NN  ._. 
So_RB  he_PRP  splashed_VBD  the_DT  information_NN  on_IN  handbills_NNS  that_IN  he_PRP  distributed_VBD  throughout_IN  the_DT  banana-exporting_JJ  city_NN  of_IN  Puerto_NNP  Armuelles_NNP  ,_,  which_WDT  was_VBD  ruled_VBN  by_IN  United_NNP  Fruit_NNP  Co_NNP  ._. 
The_DT  campaign_NN  so_RB  divided_VBD  union_NN  leaders_NNS  that_IN  the_DT  government_NN  found_VBD  them_PRP  far_RB  easier_JJR  to_TO  control_VB  ._. 
``_``  It_PRP  was_VBD  like_IN  a_DT  play_NN  on_IN  Broadway_NNP  ,_,  ''_''  recalls_VBZ  Mr._NNP  Martinez_NNP  ._. 
``_``  Noriega_NNP  managed_VBD  the_DT  whole_JJ  thing_NN  ._. 
He_PRP  was_VBD  superb_JJ  ._. 
Noriega_NNP  was_VBD  an_DT  expert_NN  at_IN  bribing_VBG  and_CC  blackmailing_VBG  people_NNS  ._.  ''_'' 
During_IN  his_PRP$  years_NNS  in_IN  Chiriqui_NNP  ,_,  however_RB  ,_,  Mr._NNP  Noriega_NNP  also_RB  revealed_VBD  himself_PRP  as_IN  an_DT  officer_NN  as_RB  perverse_JJ  as_IN  he_PRP  was_VBD  ingenious_JJ  ._. 
Rodrigo_NNP  Miranda_NNP  ,_,  a_DT  local_JJ  lawyer_NN  and_CC  human-rights_JJ  monitor_NN  ,_,  recalls_VBZ  an_DT  intoxicated_JJ  Noriega_NNP  visiting_VBG  prisoners_NNS  in_IN  their_PRP$  cells_NNS  at_IN  the_DT  5th_NNP  Zone_NNP  Garrison_NNP  headquarters_NN  in_IN  David_NNP  ,_,  where_WRB  he_PRP  had_VBD  his_PRP$  offices_NNS  ._. 
Mr._NNP  Noriega_NNP  would_MD  order_VB  them_PRP  all_DT  to_TO  take_VB  off_IN  their_PRP$  clothes_NNS  and_CC  run_VB  around_IN  the_DT  courtyard_NN  naked_JJ  ,_,  laughing_VBG  at_IN  them_PRP  and_CC  then_RB  retreating_VBG  to_TO  his_PRP$  office_NN  ._. 
``_``  People_NNS  started_VBD  wondering_VBG  if_IN  something_NN  was_VBD  wrong_JJ  with_IN  him_PRP  ,_,  ''_''  Mr._NNP  Miranda_NNP  recalls_VBZ  ._. 
But_CC  through_IN  this_DT  period_NN  ,_,  so_RB  far_RB  as_IN  the_DT  U.S._NNP  military_NN  was_VBD  concerned_VBN  ,_,  Mr._NNP  Noriega_NNP  was_VBD  a_DT  model_NN  recruit_NN  ._. 
He_PRP  signed_VBD  up_IN  for_IN  intelligence_NN  and_CC  counter-intelligence_JJ  training_NN  under_IN  American_JJ  officers_NNS  at_IN  Fort_NNP  Gulick_NNP  in_IN  Panama_NNP  in_IN  July_NNP  1967_CD  ,_,  according_VBG  to_TO  a_DT  copy_NN  of_IN  a_DT  1983_CD  resume_NN  with_IN  details_NNS  Mr._NNP  Noriega_NNP  has_VBZ  since_IN  classified_VBN  as_IN  secret_NN  ._. 
He_PRP  flew_VBD  to_TO  Fort_NNP  Bragg_NNP  ,_,  N.C._NNP  ,_,  in_IN  September_NNP  of_IN  that_DT  year_NN  for_IN  a_DT  course_NN  in_IN  psychological_JJ  operations_NNS  ,_,  returning_VBG  to_TO  the_DT  School_NNP  of_IN  the_DT  Americas_NNP  in_IN  Panama_NNP  for_IN  a_DT  two-month_JJ  course_NN  called_VBN  ``_``  military_JJ  intelligence_NN  for_IN  officers_NNS  ._.  ''_'' 
Some_DT  American_JJ  officers_NNS  interpreted_VBD  his_PRP$  eagerness_NN  and_CC  studiousness_NN  as_IN  a_DT  sign_NN  of_IN  loyalty_NN  ,_,  but_CC  they_PRP  did_VBD  so_RB  falsely_RB  ._. 
He_PRP  rose_VBD  to_TO  chief_NN  of_IN  intelligence_NN  in_IN  Panama_NNP  's_POS  socalled_JJ  G-2_NN  in_IN  1970_CD  after_IN  providing_VBG  populist_JJ  dictator_NN  Torrijos_NNP  the_DT  critical_JJ  support_NN  to_TO  defeat_VB  a_DT  coup_NN  attempt_NN  against_IN  him_PRP  a_DT  year_NN  earlier_RBR  ._. 
He_PRP  became_VBD  Gen._NNP  Torrijos_NNP  's_POS  inseparable_JJ  shadow_NN  ,_,  and_CC  the_DT  holder_NN  of_IN  all_DT  Panama_NNP  's_POS  secrets_NNS  ._. 
Mr._NNP  Noriega_NNP  ,_,  by_IN  now_RB  a_DT  lieutenant_NN  colonel_NN  ,_,  expanded_VBD  his_PRP$  contacts_NNS  to_TO  include_VB  the_DT  Cubans_NNPS  --_:  not_RB  to_TO  mention_VB  the_DT  Israelis_NNPS  ,_,  the_DT  Taiwanese_JJ  and_CC  any_DT  other_JJ  intelligence_NN  service_NN  that_WDT  came_VBD  knocking_VBG  ._. 
When_WRB  U.S._NNP  diplomats_NNS  complained_VBD  to_TO  the_DT  CIA_NNP  of_IN  Col._NNP  Noriega_NNP  's_POS  moonlighting_NN  ,_,  intelligence_NN  experts_NNS  always_RB  insisted_VBD  that_IN  his_PRP$  allegiance_NN  was_VBD  first_JJ  to_TO  the_DT  Americans_NNPS  ._. 
``_``  Early_RB  on_IN  in_IN  the_DT  State_NNP  Department_NNP  ,_,  we_PRP  took_VBD  to_TO  calling_VBG  him_PRP  the_DT  rent-a-colonel_NN  ,_,  in_IN  tribute_NN  to_TO  his_PRP$  ability_NN  to_TO  simultaneously_RB  milk_NN  the_DT  antagonistic_JJ  intelligence_NN  services_NNS  of_IN  Cuba_NNP  and_CC  the_DT  United_NNP  States_NNPS  ,_,  ''_''  recalls_VBZ  Francis_NNP  J._NNP  McNeil_NNP  ,_,  who_WP  ,_,  as_IN  deputy_NN  assistant_NN  secretary_NN  of_IN  state_NN  for_IN  inter-American_JJ  affairs_NNS  ,_,  first_JJ  ran_VBD  across_IN  reports_NNS  about_IN  Mr._NNP  Noriega_NNP  in_IN  1977_CD  ._. 
``_``  Some_DT  of_IN  us_PRP  wondered_VBD  how_WRB  our_PRP$  intelligence_NN  people_NNS  could_MD  put_VB  so_RB  much_JJ  stock_NN  in_IN  his_PRP$  information_NN  when_WRB  he_PRP  was_VBD  just_RB  as_IN  close_RB  to_TO  the_DT  Cubans_NNPS  ._.  ''_'' 
Even_RB  at_IN  this_DT  early_JJ  stage_NN  ,_,  drugs_NNS  caused_VBD  additional_JJ  concerns_NNS  ._. 
During_IN  the_DT  Nixon_NNP  administration_NN  ,_,  the_DT  Drug_NNP  Enforcement_NNP  Administration_NNP  became_VBD  dismayed_VBN  at_IN  the_DT  extent_NN  of_IN  the_DT  G-2_NN  's_POS  connections_NNS  to_TO  arrested_VBN  drug_NN  traffickers_NNS  ._. 
One_CD  DEA_NNP  agent_NN  drew_VBD  up_IN  a_DT  list_NN  of_IN  five_CD  options_NNS  for_IN  dealing_VBG  with_IN  Col._NNP  Noriega_NNP  ,_,  one_CD  of_IN  which_WDT  was_VBD  assassination_NN  ._. 
The_DT  head_NN  of_IN  the_DT  DEA_NNP  at_IN  the_DT  time_NN  ,_,  John_NNP  Ingersoll_NNP  ,_,  scotched_VBD  the_DT  assassination_NN  plan_NN  ._. 
But_CC  he_PRP  did_VBD  fly_VB  to_TO  Panama_NNP  to_TO  scold_VB  dictator_NN  Torrijos_NNP  on_IN  the_DT  drug_NN  ties_NNS  of_IN  Panamanian_JJ  officials_NNS  ,_,  including_VBG  Mr._NNP  Noriega_NNP  ._. 
Mr._NNP  Ingersoll_NNP  later_RB  recalled_VBD  that_IN  Gen._NNP  Torrijos_NNP  seemed_VBD  afraid_JJ  to_TO  act_VB  on_IN  the_DT  concerns_NNS  of_IN  the_DT  U.S._NNP  ._. 
``_``  Everybody_NN  was_VBD  afraid_JJ  of_IN  him_PRP  ,_,  ''_''  Mr._NNP  Ingersoll_NNP  says_VBZ  ._. 
Mr._NNP  Noriega_NNP  became_VBD  an_DT  even_RB  greater_JJR  threat_NN  in_IN  1976_CD  ,_,  when_WRB  U.S._NNP  intelligence_NN  services_NNS  discovered_VBN  that_IN  he_PRP  had_VBD  been_VBN  buying_VBG  recordings_NNS  of_IN  electronically_RB  monitored_VBN  conversations_NNS  from_IN  three_CD  sergeants_NNS  working_VBG  for_IN  the_DT  U.S._NNP  Army_NNP  's_POS  470th_NNP  Military_NNP  Intelligence_NNP  Group_NNP  ._. 
The_DT  tapes_NNS  included_VBD  wiretaps_NNS  of_IN  Gen._NNP  Torrijos_NNP  's_POS  own_JJ  phone_NN  ,_,  according_VBG  to_TO  American_JJ  intelligence_NN  officials_NNS  ._. 
``_``  We_PRP  caught_VBD  him_PRP  with_IN  his_PRP$  hands_NNS  on_IN  our_PRP$  cookie_NN  jar_NN  ,_,  ''_''  says_VBZ  former_JJ  CIA_NNP  Director_NNP  Stansfield_NNP  Turner_NNP  ._. 
For_IN  the_DT  first_JJ  time_NN  ,_,  the_DT  U.S._NNP  considered_VBD  cutting_VBG  Mr._NNP  Noriega_NNP  from_IN  its_PRP$  intelligence_NN  payroll_NN  --_:  and_CC  the_DT  deliberations_NNS  were_VBD  intense_JJ  ,_,  Mr._NNP  Turner_NNP  says_VBZ  ._. 
``_``  In_IN  the_DT  world_NN  of_IN  intelligence_NN  ,_,  if_IN  you_PRP  want_VBP  to_TO  get_VB  information_NN  ,_,  you_PRP  get_VBP  it_PRP  from_IN  seedy_JJ  characters_NNS  ._. 
The_DT  question_NN  is_VBZ  how_WRB  much_JJ  you_PRP  get_VBP  tied_VBN  in_IN  with_IN  seedy_JJ  characters_NNS  so_IN  they_PRP  can_MD  extort_VB  you_PRP  ._.  ''_'' 
Intelligence_NN  officials_NNS  to_TO  this_DT  day_NN  worry_NN  whether_IN  Mr._NNP  Noriega_NNP  sold_VBD  sensitive_JJ  information_NN  on_IN  the_DT  recordings_NNS  to_TO  the_DT  Cubans_NNPS  or_CC  others_NNS  ._. 
Mr._NNP  Turner_NNP  was_VBD  troubled_JJ  enough_RB  to_TO  cancel_VB  the_DT  U.S._NNP  contract_NN  with_IN  the_DT  rent-a-colonel_NN  at_IN  the_DT  beginning_NN  of_IN  the_DT  Carter_NNP  administration_NN  ._. 
The_DT  U.S._NNP  soon_RB  found_VBD  new_JJ  cause_NN  for_IN  concern_NN  :_:  gun-running_JJ  ._. 
Prosecutors_NNS  in_IN  Southern_NNP  Florida_NNP  indicted_VBD  five_CD  Panamanians_NNS  on_IN  charges_NNS  of_IN  illegally_RB  running_VBG  arms_NNS  to_TO  Sandinista_NNP  rebels_NNS  trying_VBG  to_TO  overthrow_VB  the_DT  Nicaraguan_JJ  government_NN  of_IN  Mr._NNP  Somoza_NNP  ._. 
They_PRP  included_VBD  one_CD  of_IN  Mr._NNP  Noriega_NNP  's_POS  closest_JJS  friends_NNS  and_CC  business_NN  partners_NNS  ,_,  Carlos_NNP  Wittgreen_NNP  ._. 
And_CC  the_DT  investigators_NNS  were_VBD  quickly_RB  closing_VBG  in_IN  on_IN  Mr._NNP  Noriega_NNP  himself_PRP  ._. 
At_IN  the_DT  time_NN  ,_,  though_RB  ,_,  in_IN  1979_CD  ,_,  the_DT  U.S._NNP  was_VBD  once_RB  again_RB  flirting_VBG  with_IN  its_PRP$  longtime_JJ  Latin_NNP  American_JJ  spy_NN  ._. 
Mr._NNP  Noriega_NNP  made_VBD  plans_NNS  to_TO  fly_VB  to_TO  Washington_NNP  for_IN  a_DT  meeting_NN  with_IN  his_PRP$  counterpart_NN  at_IN  the_DT  Pentagon_NNP  ._. 
Dade_NNP  County_NNP  and_CC  federal_JJ  authorities_NNS  ,_,  learning_VBG  that_IN  he_PRP  intended_VBD  to_TO  fly_VB  through_IN  Miami_NNP  ,_,  made_VBN  plans_NNS  to_TO  arrest_VB  him_PRP  on_IN  the_DT  gun-running_JJ  charges_NNS  as_RB  soon_RB  as_IN  he_PRP  hit_VBD  U.S._NNP  soil_NN  ._. 
It_PRP  was_VBD  a_DT  Friday_NNP  in_IN  June_NNP  ._. 
The_DT  Pentagon_NNP  foiled_VBD  the_DT  plan_NN  ._. 
According_VBG  to_TO  military_JJ  officers_NNS  at_IN  the_DT  time_NN  ,_,  word_NN  was_VBD  passed_VBN  to_TO  Mr._NNP  Noriega_NNP  by_IN  his_PRP$  American_JJ  hosts_NNS  that_IN  the_DT  police_NN  would_MD  be_VB  waiting_VBG  ._. 
On_IN  Monday_NNP  ,_,  U.S._NNP  officials_NNS  received_VBD  a_DT  routine_NN  ,_,  unclassified_JJ  message_NN  from_IN  the_DT  military_JJ  group_NN  commander_NN  in_IN  Panama_NNP  ._. 
``_``  Due_JJ  to_TO  health_NN  reasons_NNS  ,_,  Lt._NNP  Col._NNP  Noriega_NNP  has_VBZ  elected_VBN  to_TO  postpone_VB  his_PRP$  visit_NN  to_TO  Washington_NNP  ,_,  ''_''  it_PRP  read_VBP  ._. 
Prosecutors_NNS  in_IN  Miami_NNP  received_VBD  yet_RB  another_DT  setback_NN  ._. 
Their_PRP$  original_JJ  indictment_NN  against_IN  Mr._NNP  Wittgreen_NNP  ,_,  the_DT  friend_NN  of_IN  Mr._NNP  Noriega_NNP  ,_,  and_CC  the_DT  other_JJ  four_CD  was_VBD  dismissed_VBN  on_IN  a_DT  technicality_NN  ._. 
But_CC  now_RB  ,_,  along_IN  with_IN  reindicting_VBG  Mr._NNP  Noriega_NNP  's_POS  pal_NN  ,_,  they_PRP  intended_VBD  to_TO  charge_VB  Mr._NNP  Noriega_NNP  himself_PRP  ,_,  on_IN  allegations_NNS  that_IN  he_PRP  was_VBD  involved_VBN  in_IN  the_DT  illegal_JJ  trading_NN  of_IN  some_DT  $_$  2_CD  million_CD  in_IN  arms_NNS  ._. 
In_IN  January_NNP  1980_CD  ,_,  Jerome_NNP  Sanford_NNP  ,_,  as_IN  assistant_NN  U.S._NNP  attorney_NN  ,_,  was_VBD  summoned_VBN  to_TO  a_DT  meeting_NN  with_IN  a_DT  Federal_NNP  Bureau_NNP  of_IN  Investigation_NNP  agent_NN  assigned_VBN  to_TO  the_DT  Bureau_NNP  of_IN  Alcohol_NN  ,_,  Tobacco_NNP  and_CC  Firearms_NNP  in_IN  Miami_NNP  ._. 
Panamanian_JJ  dictator_NN  Torrijos_NNP  ,_,  he_PRP  was_VBD  told_VBN  ,_,  had_VBD  granted_VBN  the_DT  shah_NN  of_IN  Iran_NNP  asylum_NN  in_IN  Panama_NNP  as_IN  a_DT  favor_NN  to_TO  Washington_NNP  ._. 
Mr._NNP  Sanford_NNP  was_VBD  told_VBN  Mr._NNP  Noriega_NNP  's_POS  friend_NN  ,_,  Mr._NNP  Wittgreen_NNP  ,_,  would_MD  be_VB  handling_VBG  the_DT  shah_NN  's_POS  security_NN  ._. 
It_PRP  would_MD  n't_RB  be_VB  a_DT  good_JJ  idea_NN  to_TO  indict_VB  him_PRP  --_:  much_RB  less_JJR  Mr._NNP  Noriega_NNP  ,_,  the_DT  prosecutor_NN  was_VBD  told_VBN  ._. 
After_IN  prodding_VBG  from_IN  Mr._NNP  Sanford_NNP  ,_,  U.S._NNP  Attorney_NNP  Jack_NNP  Eskenazi_NNP  pleaded_VBD  with_IN  Justice_NNP  Department_NNP  officials_NNS  in_IN  Washington_NNP  to_TO  let_VB  the_DT  indictment_NN  proceed_VB  ._. 
``_``  Unfortunately_RB  ,_,  ''_''  Mr._NNP  Eskenazi_NNP  wrote_VBD  in_IN  a_DT  letter_NN  ,_,  ``_``  those_DT  of_IN  us_PRP  in_IN  law_NN  enforcement_NN  in_IN  Miami_NNP  find_NN  ourselves_PRP  frequently_RB  attempting_VBG  to_TO  enforce_VB  the_DT  laws_NNS  of_IN  the_DT  United_NNP  States_NNPS  but_CC  simultaneously_RB  being_VBG  caught_VBN  between_IN  foreign_JJ  policy_NN  considerations_NNS  over_IN  which_WDT  we_PRP  have_VBP  no_DT  control_NN  ._.  ''_'' 
The_DT  letter_NN  ,_,  along_IN  with_IN  a_DT  detailed_VBN  prosecution_NN  memo_NN  ,_,  sat_VBD  on_IN  the_DT  desks_NNS  of_IN  Justice_NNP  officials_NNS  for_IN  months_NNS  before_IN  the_DT  case_NN  died_VBD  a_DT  quiet_JJ  death_NN  ._. 
``_``  I_PRP  think_VBP  if_IN  we_PRP  had_VBD  been_VBN  allowed_VBN  to_TO  go_VB  ahead_RB  then_RB  we_PRP  would_MD  n't_RB  have_VB  the_DT  problems_NNS  we_PRP  have_VBP  now_RB  ,_,  ''_''  Mr._NNP  Sanford_NNP  says_VBZ  ._. 
``_``  If_IN  he_PRP  had_VBD  been_VBN  found_VBN  guilty_JJ  ,_,  we_PRP  could_MD  have_VB  stopped_VBN  him_PRP  ._.  ''_'' 
In_IN  August_NNP  1983_CD  ,_,  Mr._NNP  Noriega_NNP  took_VBD  over_IN  as_IN  General_NNP  and_CC  de-facto_JJ  dictator_NN  of_IN  Panama_NNP  ,_,  having_VBG  maneuvered_VBN  his_PRP$  way_NN  to_TO  the_DT  top_JJ  only_RB  two_CD  years_NNS  after_IN  the_DT  mysterious_JJ  death_NN  in_IN  a_DT  plane_NN  crash_NN  of_IN  his_PRP$  old_JJ  boss_NN  Omar_NNP  Torrijos_NNP  ._. 
Soon_RB  ,_,  the_DT  military_NN  became_VBD  a_DT  veritable_JJ  mafia_NN  controlling_VBG  legal_JJ  and_CC  illegal_JJ  businesses_NNS  ._. 
The_DT  Reagan_NNP  administration_NN  also_RB  put_VB  Mr._NNP  Noriega_NNP  's_POS  G-2_NN  back_RB  on_IN  the_DT  U.S._NNP  payroll_NN  ._. 
Payments_NNS  averaged_VBD  nearly_RB  $_$  200,000_CD  a_DT  year_NN  from_IN  the_DT  U.S._NNP  Defense_NNP  Intelligence_NNP  Agency_NNP  and_CC  the_DT  CIA_NNP  ._. 
Although_IN  working_VBG  for_IN  U.S._NNP  intelligence_NN  ,_,  Mr._NNP  Noriega_NNP  was_VBD  hardly_RB  helping_VBG  the_DT  U.S._NNP  exclusively_RB  ._. 
During_IN  the_DT  Reagan_NNP  years_NNS  he_PRP  expanded_VBD  his_PRP$  business_NN  and_CC  intelligence_NN  contacts_NNS  with_IN  the_DT  Cubans_NNPS  and_CC  the_DT  Sandinistas_NNPS  ._. 
He_PRP  allegedly_RB  entered_VBD  into_IN  Panama_NNP  's_POS  first_JJ  formal_JJ  business_NN  arrangement_NN  with_IN  Colombian_JJ  drug_NN  bosses_NNS  ,_,  according_VBG  to_TO  Floyd_NNP  Carlton_NNP  ,_,  a_DT  pilot_NN  who_WP  once_RB  worked_VBD  for_IN  Mr._NNP  Noriega_NNP  and_CC  who_WP  testified_VBD  before_IN  the_DT  U.S._NNP  grand_JJ  jury_NN  in_IN  Miami_NNP  that_WDT  would_MD  ultimately_RB  indict_VB  the_DT  Panamanian_JJ  on_IN  drug_NN  charges_NNS  ._. 
But_CC  Mr._NNP  Noriega_NNP  was_VBD  convinced_VBN  the_DT  Reagan_NNP  White_NNP  House_NNP  would_MD  n't_RB  act_VB  against_IN  him_PRP  ,_,  recalls_VBZ  his_PRP$  close_NN  ally_NN  Jose_NNP  Blandon_NNP  ,_,  because_IN  he_PRP  had_VBD  an_DT  insurance_NN  policy_NN  :_:  his_PRP$  involvement_NN  with_IN  the_DT  Contra_NNP  rebels_NNS  in_IN  Nicaragua_NNP  ._. 
Mr._NNP  Blandon_NNP  says_VBZ  the_DT  general_JJ  allowed_VBN  the_DT  Contras_NNPS  to_TO  set_VB  up_IN  a_DT  secret_JJ  training_NN  center_NN  in_IN  Panama_NNP  ._. 
Mr._NNP  Noriega_NNP  also_RB  conveyed_VBD  intelligence_NN  from_IN  his_PRP$  spy_NN  operation_NN  inside_IN  the_DT  Nicaraguan_JJ  capital_NN  of_IN  Managua_NNP  ._. 
And_CC  on_IN  at_IN  least_JJS  one_CD  occasion_NN  ,_,  in_IN  the_DT  spring_NN  of_IN  1985_CD  ,_,  he_PRP  helped_VBD  arrange_VB  a_DT  sabotage_NN  attack_NN  on_IN  a_DT  Sandinista_NNP  arsenal_NN  in_IN  Nicaragua_NNP  ._. 
Although_IN  ,_,  his_PRP$  help_NN  for_IN  the_DT  Contra_NNP  cause_NN  was_VBD  limited_JJ  ,_,  it_PRP  was_VBD  enough_RB  to_TO  win_VB  him_PRP  important_JJ  protectors_NNS  in_IN  the_DT  Reagan_NNP  administration_NN  ,_,  says_VBZ  Sen._NNP  Patrick_NNP  Leahy_NNP  ,_,  a_DT  Vermont_NNP  Democrat_NNP  who_WP  then_RB  served_VBN  on_IN  the_DT  Senate_NNP  Intelligence_NNP  Committee_NNP  ._. 
``_``  Noriega_NNP  played_VBD  U.S._NNP  intelligence_NN  agencies_NNS  and_CC  the_DT  U.S._NNP  government_NN  like_IN  a_DT  violin_NN  ,_,  ''_''  he_PRP  says_VBZ  ._. 
An_DT  incident_NN  in_IN  1984_CD  suggested_VBD  one_CD  additional_JJ  means_NNS  by_IN  which_WDT  Mr._NNP  Noriega_NNP  might_MD  have_VB  maintained_VBN  such_JJ  influence_NN  with_IN  Washington_NNP  --_:  by_IN  compromising_VBG  U.S._NNP  officials_NNS  ._. 
Curtin_NNP  Windsor_NNP  ,_,  then_RB  the_DT  ambassador_NN  to_TO  Costa_NNP  Rica_NNP  ,_,  recalls_VBZ  being_VBG  invited_VBN  to_TO  Panama_NNP  by_IN  Mr._NNP  Noriega_NNP  's_POS  brother_NN  Luis_NNP  Carlos_NNP  for_IN  a_DT  weekend_NN  of_IN  deep_JJ  sea_NN  fishing_NN  and_CC  ``_``  quiet_JJ  ,_,  serious_JJ  conversation_NN  ''_''  on_IN  the_DT  Aswara_NNP  Peninsula_NNP  ._. 
Mr._NNP  Windsor_NNP  notified_VBD  Everett_NNP  E._NNP  Briggs_NNP  ,_,  the_DT  U.S._NNP  ambassador_NN  to_TO  Panama_NNP  ,_,  of_IN  the_DT  invitation_NN  ._. 
``_``  Briggs_NNP  screamed_VBD  ,_,  ''_''  Mr._NNP  Windsor_NNP  recalls_VBZ  ._. 
He_PRP  says_VBZ  Mr._NNP  Briggs_NNP  told_VBD  him_PRP  he_PRP  was_VBD  being_VBG  set_VBN  up_IN  for_IN  a_DT  ``_``  honey_NN  trap_NN  ,_,  ''_''  in_IN  which_WDT  Mr._NNP  Noriega_NNP  would_MD  try_VB  to_TO  involve_VB  him_PRP  in_IN  an_DT  orgy_NN  and_CC  then_JJ  record_NN  the_DT  event_NN  ``_``  with_IN  sound_NN  and_CC  video_NN  ._.  ''_'' 
Mr._NNP  Briggs_NNP  ,_,  on_IN  vacation_NN  after_IN  resigning_VBG  his_PRP$  position_NN  at_IN  the_DT  National_NNP  Security_NNP  Council_NNP  ,_,  could_MD  n't_RB  be_VB  reached_VBN  for_IN  comment_NN  ._. 
As_IN  Mr._NNP  Noriega_NNP  's_POS  political_JJ  troubles_NNS  grew_VBD  ,_,  so_RB  did_VBD  his_PRP$  offers_NNS  of_IN  assistance_NN  to_TO  the_DT  Contras_NNPS  ,_,  an_DT  apparent_JJ  attempt_NN  to_TO  curry_VB  more_JJR  favor_NN  in_IN  Washington_NNP  ._. 
For_IN  instance_NN  ,_,  he_PRP  helped_VBD  steal_VB  the_DT  May_NNP  1984_CD  Panamanian_JJ  elections_NNS  for_IN  the_DT  ruling_NN  party_NN  ._. 
But_CC  just_RB  one_CD  month_NN  later_RB  ,_,  he_PRP  also_RB  contributed_VBD  $_$  100,000_CD  to_TO  a_DT  Contra_NNP  leader_NN  ,_,  according_VBG  to_TO  documents_NNS  released_VBN  for_IN  Oliver_NNP  North_NNP  's_POS  criminal_JJ  trial_NN  in_IN  Washington_NNP  ,_,  D.C_NNP  ._. 
Yet_RB  ,_,  his_PRP$  political_JJ  setbacks_NNS  mounted_VBN  ._. 
Mr._NNP  Noriega_NNP  was_VBD  accused_VBN  of_IN  ordering_VBG  in_IN  1985_CD  the_DT  beheading_NN  of_IN  Hugo_NNP  Spadafora_NNP  ,_,  his_PRP$  most_RBS  outspoken_JJ  political_JJ  opponent_NN  and_CC  the_DT  first_JJ  man_NN  to_TO  publicly_RB  finger_NN  Mr._NNP  Noriega_NNP  on_IN  drug_NN  trafficking_NN  charges_NNS  ._. 
He_PRP  then_RB  ousted_VBD  President_NNP  Nicholas_NNP  Ardito_NNP  Barletta_NNP  ,_,  a_DT  former_JJ  World_NNP  Bank_NNP  official_NN  with_IN  close_NN  ties_NNS  to_TO  the_DT  U.S._NNP  ,_,  after_IN  Mr._NNP  Barletta_NNP  tried_VBD  to_TO  create_VB  a_DT  commission_NN  to_TO  investigate_VB  the_DT  murder_NN  ._. 
And_CC  ,_,  all_PDT  the_DT  while_NN  ,_,  Panama_NNP  's_POS  debt_NN  problems_NNS  continued_VBD  to_TO  grow_VB  ._. 
Mr._NNP  Noriega_NNP  was_VBD  growing_VBG  desperate_JJ  ._. 
In_IN  late_JJ  1986_CD  ,_,  he_PRP  made_VBD  an_DT  offer_NN  he_PRP  thought_VBD  the_DT  U.S._NNP  could_MD  n't_RB  refuse_VB  ._. 
As_IN  recounted_VBN  in_IN  a_DT  stipulation_NN  that_WDT  summarized_VBD  government_NN  documents_NNS  released_VBN  for_IN  the_DT  North_NNP  trial_NN  ,_,  Mr._NNP  Noriega_NNP  offered_VBD  to_TO  assassinate_VB  the_DT  Sandinista_NNP  leadership_NN  in_IN  exchange_NN  ``_``  for_IN  a_DT  promise_NN  to_TO  help_VB  clean_JJ  up_IN  Noriega_NNP  's_POS  image_NN  and_CC  a_DT  commitment_NN  to_TO  lift_VB  the_DT  -LCB-_(  U.S._NNP  ._.  -RCB-_)  ban_NN  on_IN  military_JJ  sales_NNS  to_TO  the_DT  Panamanian_NNP  Defense_NNP  Forces_NNPS  ._.  ''_'' 
``_``  North_NNP  ,_,  ''_''  the_DT  document_NN  went_VBD  on_IN  ,_,  referring_VBG  to_TO  Oliver_NNP  North_NNP  ,_,  ``_``  has_VBZ  told_VBN  Noriega_NNP  's_POS  representative_NN  that_IN  U.S._NNP  law_NN  forbade_VBD  such_JJ  actions_NNS  ._. 
The_DT  representative_NN  responded_VBD  that_IN  Noriega_NNP  had_VBD  numerous_JJ  assets_NNS  in_IN  place_NN  in_IN  Nicaragua_NNP  and_CC  could_MD  accomplish_VB  many_JJ  essential_JJ  things_NNS  ,_,  just_RB  as_IN  Noriega_NNP  had_VBD  helped_VBN  -LCB-_(  the_DT  U.S._NNP  ._.  -RCB-_)  the_DT  previous_JJ  year_NN  in_IN  blowing_VBG  up_IN  a_DT  Sandinista_NNP  arsenal_NN  ._.  ''_'' 
Col._NNP  North_NNP  conveyed_VBD  the_DT  request_NN  to_TO  his_PRP$  superiors_NNS  and_CC  to_TO  Assistant_NNP  Secretary_NNP  of_IN  State_NNP  Elliot_NNP  Abrams_NNP  ,_,  who_WP  relayed_VBD  it_PRP  to_TO  Secretary_NNP  of_IN  State_NNP  George_NNP  Shultz_NNP  ._. 
Mr._NNP  Noriega_NNP  's_POS  proposal_NN  was_VBD  turned_VBN  down_RB  ._. 
And_CC  Mr._NNP  Shultz_NNP  curtly_RB  told_VBD  Mr._NNP  Abrams_NNP  that_IN  the_DT  general_NN  should_MD  be_VB  told_VBN  that_IN  only_RB  he_PRP  could_MD  repair_VB  his_PRP$  tarnished_VBN  image_NN  ._. 
The_DT  end_NN  of_IN  the_DT  marriage_NN  was_VBD  at_IN  hand_NN  ._. 
Within_IN  weeks_NNS  the_DT  unfolding_VBG  Iran-Contra_NNP  scandal_NN  took_VBD  away_RB  Mr._NNP  Noriega_NNP  's_POS  insurance_NN  policy_NN  ._. 
The_DT  death_NN  of_IN  CIA_NNP  Director_NNP  William_NNP  Casey_NNP  and_CC  resignation_NN  of_IN  Oliver_NNP  North_NNP  allowed_VBD  anti-Noriega_JJ  political_JJ  forces_NNS  to_TO  gain_VB  influence_NN  ._. 
Public_JJ  protests_NNS  against_IN  him_PRP  were_VBD  triggered_VBN  in_IN  June_NNP  1987_CD  due_JJ  to_TO  charges_NNS  by_IN  Diaz_NNP  Herrera_NNP  ,_,  his_PRP$  former_JJ  chief_NN  of_IN  staff_NN  ,_,  that_IN  Mr._NNP  Noriega_NNP  had_VBD  stolen_VBN  the_DT  1984_CD  election_NN  and_CC  had_VBD  ordered_VBN  the_DT  killing_NN  of_IN  Messrs._NNP  Spadafora_NNP  and_CC  Torrijos_NNP  ._. 
Few_NNP  American_JJ  officials_NNS  were_VBD  willing_JJ  any_RB  longer_RB  to_TO  defend_VB  him_PRP  ._. 
Lawyers_NNS  in_IN  Miami_NNP  --_:  this_DT  time_NN  working_VBG  virtually_RB  without_IN  impediment_NN  --_:  prepared_VBN  to_TO  have_VB  him_PRP  indicted_VBN  on_IN  drug_NN  charges_NNS  in_IN  February_NNP  1988_CD  ._. 
During_IN  negotiations_NNS  with_IN  American_JJ  officials_NNS  in_IN  May_NNP  1988_CD  over_IN  proposals_NNS  to_TO  drop_VB  the_DT  U.S._NNP  indictments_NNS  in_IN  exchange_NN  for_IN  his_PRP$  resignation_NN  ,_,  Mr._NNP  Noriega_NNP  often_RB  asked_VBD  almost_RB  plaintively_RB  how_WRB  the_DT  Americans_NNPS  ,_,  whom_WP  he_PRP  had_VBD  helped_VBN  for_IN  so_RB  many_JJ  years_NNS  ,_,  could_MD  turn_VB  against_IN  him_PRP  ._. 
Now_RB  ,_,  neither_DT  side_NN  --_:  the_DT  U.S._NNP  nor_CC  Mr._NNP  Noriega_NNP  --_:  has_VBZ  an_DT  easy_JJ  out_RB  ._. 
President_NNP  Bush_NNP  has_VBZ  sworn_VBN  to_TO  bring_VB  him_PRP  to_TO  justice_NN  ._. 
Mr._NNP  Noriega_NNP  believes_VBZ  he_PRP  has_VBZ  n't_RB  any_DT  alternative_NN  but_CC  to_TO  continue_VB  clutching_VBG  to_TO  power_VB  ._. 
It_PRP  is_VBZ  a_DT  knock-out_JJ  battle_NN  --_:  perhaps_RB  to_TO  the_DT  death_NN  ._. 
In_IN  the_DT  end_NN  ,_,  is_VBZ  Mr._NNP  Noriega_NNP  the_DT  political_JJ  equivalent_NN  of_IN  Frankenstein_NNP  's_POS  monster_NN  ,_,  created_VBN  by_IN  a_DT  well-intentioned_JJ  but_CC  misguided_JJ  foreign_JJ  power_NN  ?_. 
Not_RB  quite_RB  ,_,  Sen._NNP  Leahy_NNP  contends_VBZ  ._. 
``_``  For_IN  short-term_JJ  gains_NNS  ,_,  people_NNS  were_VBD  willing_JJ  to_TO  put_VB  up_IN  with_IN  him_PRP  ._. 
That_DT  allowed_VBN  him_PRP  to_TO  get_VB  stronger_JJR  and_CC  stronger_JJR  ,_,  ''_''  he_PRP  says_VBZ  ._. 
``_``  I_PRP  do_VBP  n't_RB  think_VB  we_PRP  created_VBD  him_PRP  as_RB  much_JJ  as_IN  we_PRP  fed_VBD  him_PRP  ,_,  nurtured_VBD  him_PRP  and_CC  let_VB  him_PRP  grow_VB  up_VB  to_TO  be_VB  big_JJ  and_CC  strong_JJ  ._. 
UPJOHN_NNP  Co._NNP  reported_VBD  that_IN  third-quarter_JJ  net_JJ  income_NN  rose_VBD  to_TO  $_$  96_CD  million_CD  ,_,  or_CC  52_CD  cents_NNS  a_DT  share_NN  ,_,  from_IN  $_$  89.6_CD  million_CD  ,_,  or_CC  49_CD  cents_NNS  a_DT  share_NN  ,_,  a_DT  year_NN  earlier_RBR  ._. 
Yesterday_NN  's_POS  edition_NN  provided_VBD  analysts_NNS  '_POS  estimates_NNS  for_IN  the_DT  company_NN  when_WRB  actual_JJ  earnings_NNS  were_VBD  available_JJ  ._. 
Industrial_JJ  production_NN  declined_VBD  0.1_CD  %_NN  in_IN  September_NNP  ,_,  reinforcing_VBG  other_JJ  signs_NNS  that_IN  the_DT  manufacturing_NN  sector_NN  continues_VBZ  its_PRP$  slowing_NN  trend_NN  ._. 
The_DT  Federal_NNP  Reserve_NNP  Board_NNP  said_VBD  output_NN  of_IN  the_DT  nation_NN  's_POS  factories_NNS  ,_,  mines_NNS  and_CC  utilities_NNS  expanded_VBN  at_IN  an_DT  annual_JJ  rate_NN  of_IN  1.3_CD  %_NN  in_IN  the_DT  third_JJ  quarter_NN  ,_,  substantially_RB  slower_JJR  than_IN  the_DT  3.3_CD  %_NN  annual_JJ  rate_NN  in_IN  the_DT  second_JJ  quarter_NN  ._. 
``_``  Capital_NNP  spending_NN  and_CC  exports_NNS  ,_,  which_WDT  have_VBP  been_VBN  the_DT  driving_VBG  force_NN  in_IN  this_DT  expansion_NN  ,_,  are_VBP  showing_VBG  clear_JJ  signs_NNS  of_IN  having_VBG  the_DT  steam_NN  taken_VBN  out_IN  of_IN  them_PRP  ,_,  ''_''  said_VBD  Robert_NNP  Dederick_NNP  ,_,  economist_NN  for_IN  Northern_NNP  Trust_NNP  Co._NNP  in_IN  Chicago_NNP  ._. 
The_DT  new_JJ  reports_NNS  of_IN  sluggishness_NN  ,_,  which_WDT  were_VBD  foreshadowed_VBN  by_IN  an_DT  earlier_RBR  Labor_NNP  Department_NNP  report_NN  that_IN  manufacturing_NN  payrolls_NNS  dropped_VBN  by_IN  105,000_CD  in_IN  September_NNP  ,_,  give_VB  the_DT  Fed_NNP  another_DT  reason_NN  to_TO  further_VB  ease_VB  its_PRP$  grip_NN  on_IN  credit_NN  and_CC  lower_JJR  interest_NN  rates_NNS  ._. 
``_``  They_PRP  need_VBP  to_TO  do_VB  something_NN  about_IN  this_DT  ,_,  ''_''  said_VBD  Maury_NNP  Harris_NNP  ,_,  economist_NN  at_IN  PaineWebber_NNP  Group_NNP  Inc_NNP  ._. 
The_DT  Fed_NNP  also_RB  said_VBD  U.S._NNP  industry_NN  operated_VBN  at_IN  83.6_CD  %_NN  of_IN  capacity_NN  last_JJ  month_NN  ,_,  down_RB  from_IN  83.8_CD  %_NN  in_IN  August_NNP  ._. 
Measures_NNS  of_IN  manufacturing_NN  activity_NN  fell_VBD  more_JJR  than_IN  the_DT  overall_JJ  measures_NNS  ._. 
Factory_NN  output_NN  dropped_VBD  0.2_CD  %_NN  ,_,  its_PRP$  first_JJ  decline_NN  since_IN  February_NNP  ,_,  after_IN  having_VBG  been_VBN  unchanged_JJ  in_IN  October_NNP  ._. 
Factories_NNS  operated_VBN  at_IN  83.7_CD  %_NN  of_IN  capacity_NN  ,_,  the_DT  lowest_JJS  rate_NN  in_IN  more_JJR  than_IN  a_DT  year_NN  and_CC  down_RB  from_IN  84.1_CD  %_NN  in_IN  September_NNP  ._. 
The_DT  declines_NNS  mainly_RB  reflected_VBD  widespread_JJ  weakness_NN  in_IN  durable_JJ  goods_NNS  ,_,  those_DT  intended_VBN  to_TO  last_VB  more_JJR  than_IN  three_CD  years_NNS  ._. 
The_DT  biggest_JJS  drop_NN  was_VBD  recorded_VBN  by_IN  primary_JJ  metals_NNS  producers_NNS  ,_,  a_DT  category_NN  that_WDT  includes_VBZ  the_DT  steel_NN  industry_NN  ._. 
Output_NN  of_IN  business_NN  equipment_NN  was_VBD  unchanged_JJ  in_IN  September_NNP  ._. 
Production_NN  of_IN  factory_NN  equipment_NN  ,_,  one_CD  indication_NN  of_IN  the_DT  strength_NN  of_IN  manufacturers_NNS  '_POS  investment_NN  spending_NN  ,_,  fell_VBD  0.3_CD  %_NN  ._. 
Some_DT  economists_NNS  expect_VBP  further_JJ  declines_NNS  in_IN  investment_NN  spending_NN  ._. 
``_``  Whenever_WRB  corporate_JJ  profits_NNS  are_VBP  weak_JJ  that_WDT  means_VBZ  capital_NN  spending_NN  is_VBZ  going_VBG  to_TO  soften_VB  subsequently_RB  ,_,  ''_''  Mr._NNP  Harris_NNP  said_VBD  ._. 
``_``  You_PRP  have_VBP  n't_RB  seen_VBN  the_DT  full_JJ  effect_NN  of_IN  that_DT  yet_RB  ._.  ''_'' 
A_DT  decline_NN  in_IN  truck_NN  production_NN  more_JJR  than_IN  offset_VB  a_DT  sharp_JJ  rise_NN  in_IN  auto_NN  assemblies_NNS  ,_,  the_DT  Fed_NNP  noted_VBD  ._. 
Analysts_NNS  do_VBP  n't_RB  expect_VB  the_DT  September_NNP  surge_NN  in_IN  auto_NN  production_NN  to_TO  be_VB  repeated_VBN  in_IN  the_DT  coming_VBG  months_NNS  ._. 
Here_RB  is_VBZ  a_DT  summary_NN  of_IN  the_DT  Federal_NNP  Reserve_NNP  Board_NNP  's_POS  report_NN  on_IN  industrial_JJ  production_NN  in_IN  September_NNP  ._. 
The_DT  figures_NNS  are_VBP  seasonally_RB  adjusted_VBN  ._. 
142.3_CD  %_NN  of_IN  the_DT  1977_CD  average_JJ  ._. 
Robin_NNP  Honiss_NNP  ,_,  president_NN  and_CC  chief_JJ  executive_JJ  officer_NN  of_IN  this_DT  bank_NN  holding_VBG  company_NN  ,_,  was_VBD  elected_VBN  to_TO  the_DT  additional_JJ  posts_NNS  of_IN  chairman_NN  ,_,  president_NN  and_CC  chief_JJ  executive_NN  of_IN  the_DT  company_NN  's_POS  New_NNP  England_NNP  Savings_NNP  Bank_NNP  subsidiary_NN  ._. 
William_NNP  R._NNP  Attridge_NNP  resigned_VBD  those_DT  posts_NNS  ,_,  as_RB  well_RB  as_IN  a_DT  seat_NN  on_IN  NESB_NNP  's_POS  board_NN  ._. 
NESB_NNP  is_VBZ  also_RB  the_DT  parent_NN  of_IN  Omnibank_NNP  ._. 
Lung-cancer_NN  mortality_NN  rates_NNS  for_IN  people_NNS  under_IN  45_CD  years_NNS  of_IN  age_NN  have_VBP  begun_VBN  to_TO  decline_VB  ,_,  federal_JJ  researchers_NNS  report_VBP  ._. 
The_DT  drop_NN  is_VBZ  particularly_RB  large_JJ  for_IN  white_JJ  males_NNS  ,_,  although_IN  black_JJ  males_NNS  and_CC  white_JJ  and_CC  black_JJ  women_NNS  also_RB  show_VBP  lower_JJR  mortality_NN  rates_NNS  ._. 
A_DT  report_NN  in_IN  this_DT  week_NN  's_POS  issue_NN  of_IN  the_DT  Journal_NNP  of_IN  the_DT  National_NNP  Cancer_NNP  Institute_NNP  also_RB  projects_VBZ  that_IN  overall_JJ  U.S._NNP  mortality_NN  rates_NNS  from_IN  lung_NN  cancer_NN  ,_,  the_DT  leading_VBG  cause_NN  of_IN  cancer_NN  death_NN  ,_,  should_MD  begin_VB  to_TO  drop_VB  in_IN  several_JJ  years_NNS  if_IN  cigarette_NN  smoking_NN  continues_VBZ  to_TO  abate_VB  ._. 
The_DT  report_NN  ,_,  which_WDT  comes_VBZ  25_CD  years_NNS  after_IN  the_DT  U.S._NNP  Surgeon_NNP  General_NNP  issued_VBD  a_DT  report_NN  warning_NN  against_IN  the_DT  dangers_NNS  of_IN  smoking_NN  ,_,  is_VBZ  the_DT  strongest_JJS  indication_NN  to_TO  date_VB  that_IN  the_DT  reduction_NN  in_IN  smoking_NN  is_VBZ  leading_VBG  to_TO  lower_JJR  death_NN  rates_NNS  from_IN  lung_NN  cancer_NN  ._. 
``_``  What_WP  this_DT  is_VBZ  saying_VBG  is_VBZ  that_IN  the_DT  surgeon_NN  general_NN  's_POS  message_NN  is_VBZ  having_VBG  an_DT  impact_NN  ,_,  ''_''  said_VBD  Melvyn_NNP  Tockman_NNP  ,_,  an_DT  epidemiologist_NN  at_IN  the_DT  Johns_NNP  Hopkins_NNP  School_NNP  of_IN  Hygiene_NNP  and_CC  Public_NNP  Health_NNP  in_IN  Baltimore_NNP  ._. 
The_DT  National_NNP  Cancer_NNP  Institute_NNP  report_NN  compares_VBZ  mortality_NN  rates_NNS  of_IN  two_CD  groups_NNS  of_IN  people_NNS  between_IN  the_DT  ages_NNS  of_IN  35_CD  and_CC  44_CD  a_DT  decade_NN  apart_RB  ._. 
The_DT  death_NN  rate_NN  from_IN  lung_NN  cancer_NN  of_IN  white_JJ  males_NNS  aged_VBN  35_CD  to_TO  44_CD  in_IN  the_DT  mid-1970s_NNS  was_VBD  13.4_CD  per_IN  100,000_CD  ,_,  but_CC  the_DT  mortality_NN  rate_NN  of_IN  the_DT  same_JJ  age_NN  group_NN  in_IN  the_DT  mid-1980s_NNS  was_VBD  9.6_CD  ,_,  a_DT  decline_NN  of_IN  28.7_CD  %_NN  ._. 
Measured_VBN  the_DT  same_JJ  way_NN  ,_,  the_DT  decline_NN  for_IN  black_JJ  males_NNS  was_VBD  14.2_CD  %_NN  ._. 
The_DT  drop_NN  in_IN  mortality_NN  rates_NNS  for_IN  women_NNS  was_VBD  less_RBR  steep_JJ  --_:  8.9_CD  %_NN  for_IN  blacks_NNS  and_CC  5.3_CD  %_NN  for_IN  whites_NNS  ._. 
The_DT  study_NN  ,_,  by_IN  Susan_NNP  Devesa_NNP  ,_,  William_NNP  Blot_NNP  and_CC  Joseph_NNP  Fraumeni_NNP  of_IN  the_DT  institute_NN  's_POS  staff_NN  ,_,  also_RB  shows_VBZ  that_IN  the_DT  incidence_NN  of_IN  lung_NN  cancer_NN  as_RB  well_RB  as_IN  the_DT  death_NN  rate_NN  declined_VBD  over_IN  the_DT  decade_NN  for_IN  all_DT  groups_NNS  in_IN  the_DT  35-44_JJ  age_NN  bracket_NN  ,_,  except_IN  black_JJ  men_NNS  ._. 
Although_IN  lung-cancer_NN  mortality_NN  rates_NNS  are_VBP  increasing_VBG  for_IN  the_DT  nation_NN  as_IN  a_DT  whole_NN  ,_,  the_DT  report_NN  projects_VBZ  that_IN  death_NN  rates_NNS  will_MD  begin_VB  to_TO  decline_VB  in_IN  the_DT  1990s_CD  for_IN  men_NNS  and_CC  after_IN  the_DT  year_NN  2000_CD  for_IN  women_NNS  ._. 
Lung-cancer_NN  mortality_NN  rates_NNS  increase_VBP  with_IN  age_NN  and_CC  are_VBP  continuing_VBG  to_TO  rise_VB  for_IN  all_DT  age_NN  groups_NNS  over_IN  55_NN  ,_,  with_IN  sharp_JJ  increases_NNS  for_IN  everybody_NN  but_CC  white_JJ  men_NNS  ._. 
But_CC  Dr._NNP  Fraumeni_NNP  ,_,  one_CD  of_IN  the_DT  authors_NNS  of_IN  the_DT  report_NN  ,_,  said_VBD  ``_``  the_DT  declining_VBG  rates_NNS  we_PRP  're_VBP  seeing_VBG  for_IN  younger_JJR  people_NNS  we_PRP  believe_VBP  may_MD  be_VB  a_DT  harbinger_NN  of_IN  declining_VBG  mortality_NN  in_IN  the_DT  future_NN  ._.  ''_'' 
However_RB  ,_,  he_PRP  stressed_VBD  that_IN  the_DT  improvement_NN  depends_VBZ  on_IN  a_DT  continued_VBN  reduction_NN  in_IN  smoking_NN  ._. 
``_``  Even_RB  though_IN  these_DT  favorable_JJ  trends_NNS  in_IN  lung-cancer_NN  mortality_NN  affect_NN  all_DT  sex_NN  and_CC  race_NN  groups_NNS  ,_,  they_PRP  ca_MD  n't_RB  be_VB  taken_VBN  for_IN  granted_VBN  ,_,  ''_''  the_DT  report_NN  says_NNS  ._. 
``_``  Smoking_NNP  prevention_NN  programs_NNS  should_MD  reach_VB  larger_JJR  segments_NNS  of_IN  the_DT  population_NN  ,_,  especially_RB  children_NNS  ,_,  adolescents_NNS  and_CC  minorities_NNS  ._.  ''_'' 
An_DT  editorial_NN  in_IN  the_DT  NCI_NNP  Journal_NNP  says_VBZ  the_DT  report_NN  of_IN  declining_VBG  lung-cancer_NN  mortality_NN  ``_``  among_IN  young_JJ  men_NNS  and_CC  women_NNS  in_IN  the_DT  U.S._NNP  indicates_VBZ  that_IN  we_PRP  finally_RB  may_MD  be_VB  winning_VBG  the_DT  battle_NN  --_:  this_DT  even_RB  in_IN  a_DT  country_NN  where_WRB  the_DT  tobacco_NN  industry_NN  spends_VBZ  over_IN  $_$  2_CD  billion_CD  a_DT  year_NN  for_IN  promotion_NN  of_IN  the_DT  addictive_JJ  habit_NN  of_IN  smoking_NN  ._.  ''_'' 
But_CC  the_DT  editorial_NN  ,_,  by_IN  Jan_NNP  Stjernsward_NNP  of_IN  the_DT  World_NNP  Health_NNP  Organization_NNP  ,_,  notes_VBZ  that_DT  tobacco_NN  consumption_NN  and_CC  lung-cancer_NN  mortality_NN  rates_NNS  are_VBP  rising_VBG  in_IN  developing_VBG  countries_NNS  ._. 
``_``  Non-smoking_NN  should_MD  be_VB  established_VBN  as_IN  the_DT  norm_NN  of_IN  social_JJ  behavior_NN  ''_''  around_IN  the_DT  world_NN  ,_,  the_DT  editorial_NN  says_VBZ  ,_,  through_IN  the_DT  enactment_NN  of_IN  laws_NNS  that_WDT  limit_VBP  advertising_VBG  ,_,  boost_VB  tobacco_NN  prices_NNS  and_CC  promote_VB  anti-smoking_JJ  education_NN  ._. 
Asked_VBN  for_IN  comment_NN  ,_,  Walker_NNP  Merryman_NNP  ,_,  a_DT  vice_NN  president_NN  of_IN  the_DT  Tobacco_NNP  Institute_NNP  ,_,  said_VBD  new_JJ  efforts_NNS  to_TO  restrict_VB  tobacco_NN  advertising_NN  in_IN  the_DT  U.S._NNP  could_MD  violate_VB  the_DT  First_NNP  Amendment_NNP  protection_NN  of_IN  free_JJ  speech_NN  ._. 
According_VBG  to_TO  the_DT  American_NNP  Cancer_NNP  Society_NNP  ,_,  smoking_NN  is_VBZ  responsible_JJ  for_IN  85_CD  %_NN  of_IN  the_DT  lung-cancer_NN  cases_NNS  among_IN  men_NNS  and_CC  75_CD  %_NN  among_IN  women_NNS  ._. 
The_DT  NCI_NNP  report_NN  attributes_VBZ  the_DT  differences_NNS  in_IN  mortality_NN  rates_NNS  by_IN  race_NN  to_TO  different_JJ  smoking_NN  patterns_NNS  ._. 
A_DT  higher_JJR  proportion_NN  of_IN  black_JJ  men_NNS  smoke_VBP  than_IN  white_JJ  men_NNS  ._. 
While_IN  nearly_RB  equal_JJ  percentages_NNS  of_IN  black_JJ  and_CC  white_JJ  women_NNS  currently_JJ  smoke_NN  ,_,  in_IN  both_DT  sexes_NNS  more_JJR  whites_NNS  have_VBP  given_VBN  up_IN  smoking_NN  than_IN  blacks_NNS  ._. 
In_IN  comparing_VBG  changes_NNS  in_IN  mortality_NN  rates_NNS  over_IN  the_DT  past_JJ  decade_NN  ,_,  the_DT  NCI_NNP  study_NN  looked_VBD  only_RB  at_IN  blacks_NNS  and_CC  whites_NNS  ._. 
Asians_NNS  and_CC  native_JJ  Americans_NNPS  were_VBD  n't_RB  studied_VBN  ;_:  Hispanics_NNPS  were_VBD  included_VBN  with_IN  whites_NNS  ._. 
Recent_JJ  changes_NNS  in_IN  average_JJ  annual_JJ  age-specific_JJ  lung-cancer_NN  rates_NNS  per_IN  100,000_CD  population_NN  by_IN  race_NN  and_CC  sex_NN  ._. 
White_NNP  Males_NNPS 
White_NNP  Females_NNPS 
Black_NNP  Males_NNPS 
Black_NNP  Females_NNPS 
Directors_NNS  elected_VBD  R._NNP  Marvin_NNP  Womack_NNP  ,_,  currently_JJ  vice_NN  president\/product_NN  supply_NN  ,_,  purchasing_VBG  ,_,  to_TO  head_VB  the_DT  company_NN  's_POS  Washington_NNP  ,_,  D.C._NNP  ,_,  office_NN  ._. 
As_IN  vice_NN  president\/national-government_NN  relations_NNS  ,_,  Mr._NNP  Womack_NNP  will_MD  work_VB  with_IN  P&G_NNP  's_POS  top_JJ  management_NN  and_CC  with_IN  the_DT  company_NN  's_POS  government-relations_NNS  staff_VBP  ``_``  to_TO  represent_VB  P&G_NNP  's_POS  interests_NNS  at_IN  the_DT  federal_JJ  level_NN  ,_,  ''_''  said_VBD  John_NNP  G._NNP  Smale_NNP  ,_,  chairman_NN  and_CC  chief_JJ  executive_JJ  officer_NN  ._. 
Mr._NNP  Smale_NNP  said_VBD  the_DT  appointment_NN  ``_``  recognizes_VBZ  the_DT  growing_VBG  influence_NN  of_IN  government_NN  on_IN  our_PRP$  business_NN  ._.  ''_'' 
Mr._NNP  Womack_NNP  ,_,  53_CD  years_NNS  old_JJ  ,_,  has_VBZ  been_VBN  with_IN  the_DT  big_JJ  producer_NN  of_IN  household_NN  products_NNS  ,_,  food_NN  and_CC  pharmaceuticals_NNS  for_IN  30_CD  years_NNS  ._. 
Traders_NNS  trying_VBG  to_TO  profit_VB  from_IN  the_DT  recent_JJ  volatility_NN  in_IN  financial_JJ  markets_NNS  invaded_VBD  the_DT  Nasdaq_NNP  over-the-counter_JJ  market_NN  ,_,  prompting_VBG  even_RB  more_JJR  swings_NNS  in_IN  stock_NN  prices_NNS  ._. 
After_IN  gaining_VBG  strength_NN  during_IN  a_DT  brief_JJ  run-up_NN  when_WRB  trading_NN  began_VBD  ,_,  the_DT  Nasdaq_NNP  Composite_NNP  Index_NNP  weakened_VBD  under_IN  selling_VBG  pressure_NN  ._. 
The_DT  forces_NNS  at_IN  work_NN  included_VBD  computer-guided_JJ  trading_NN  ,_,  as_RB  well_RB  as_IN  profit-driven_CD  market_NN  makers_NNS  and_CC  institutional_JJ  investors_NNS  who_WP  had_VBD  bought_VBN  stock_NN  on_IN  the_DT  cheap_NN  during_IN  the_DT  recent_JJ  correction_NN  ._. 
During_IN  the_DT  last_JJ  two_CD  hours_NNS  of_IN  trading_NN  ,_,  the_DT  composite_JJ  almost_RB  drew_VBD  even_RB  on_IN  the_DT  day_NN  before_IN  slipping_VBG  again_RB  ._. 
The_DT  Nasdaq_NNP  Composite_NNP  closed_VBD  down_RB  1.05_CD  ,_,  or_CC  0.2_CD  %_NN  ,_,  to_TO  459.93_CD  ._. 
The_DT  action_NN  was_VBD  confined_VBN  to_TO  Nasdaq_NNP  's_POS  biggest_JJS  and_CC  most_RBS  liquid_JJ  stocks_NNS  ,_,  traders_NNS  said_VBD  ._. 
The_DT  Nasdaq_NNP  100_CD  Index_NNP  began_VBD  the_DT  day_NN  at_IN  449.89_CD  ,_,  lost_VBD  2_CD  %_NN  at_IN  one_CD  point_NN  ,_,  and_CC  was_VBD  up_IN  0.4_CD  %_NN  at_IN  another_DT  ._. 
The_DT  barometer_NN  of_IN  the_DT  biggest_JJS  nonfinancial_JJ  stocks_NNS  settled_VBD  at_IN  448.49_CD  ,_,  off_IN  1.40_CD  ._. 
Its_PRP$  counterpart_NN  ,_,  the_DT  Nasdaq_NNP  Financial_NNP  Index_NNP  ,_,  was_VBD  weak_JJ  for_IN  most_RBS  of_IN  the_DT  day_NN  ,_,  sliding_VBG  2.51_CD  to_TO  453.57_CD  by_IN  the_DT  end_NN  of_IN  trading_NN  ._. 
The_DT  volatility_NN  was_VBD  dizzying_JJ  for_IN  traders_NNS  ._. 
``_``  The_DT  market_NN  must_MD  have_VB  turned_VBN  up_IN  and_CC  down_RB  15_CD  different_JJ  times_NNS  ,_,  ''_''  commented_VBD  Lance_NNP  Zipper_NNP  ,_,  head_NN  of_IN  OTC_NNP  trading_NN  at_IN  Kidder_NNP  Peabody_NNP  ._. 
``_``  Every_DT  time_NN  you_PRP  thought_VBD  it_PRP  was_VBD  going_VBG  into_IN  a_DT  rally_NN  it_PRP  gave_VBD  up_IN  ,_,  and_CC  every_DT  time_NN  you_PRP  thought_VBD  it_PRP  would_MD  rally_VB  it_PRP  came_VBD  down_RB  ._. 
This_DT  is_VBZ  a_DT  tough_JJ  market_NN  ._.  ''_'' 
Mr._NNP  Zipper_NNP  said_VBD  the_DT  market_NN  is_VBZ  still_RB  settling_VBG  down_RB  after_IN  the_DT  recent_JJ  correction_NN  ._. 
Most_JJS  of_IN  trading_NN  action_NN  now_RB  is_VBZ  from_IN  professional_JJ  traders_NNS  who_WP  are_VBP  trying_VBG  to_TO  take_VB  advantage_NN  of_IN  the_DT  price_NN  swings_NNS  to_TO  turn_VB  a_DT  quick_JJ  profit_NN  ,_,  he_PRP  and_CC  other_JJ  traders_NNS  said_VBD  ._. 
``_``  Everybody_NN  's_POS  confused_VBN  and_CC  no_DT  one_CD  has_VBZ  an_DT  opinion_NN  that_WDT  lasts_VBZ  longer_RB  than_IN  30_CD  seconds_NNS  ,_,  ''_''  said_VBD  Mr._NNP  Zipper_NNP  ._. 
``_``  A_DT  lot_NN  of_IN  the_DT  professional_JJ  traders_NNS  are_VBP  just_RB  going_VBG  back_RB  and_CC  forth_RB  ._. 
They_PRP  're_VBP  just_RB  as_IN  confused_VBN  ._.  ''_'' 
William_NNP  Rothe_NNP  ,_,  head_NN  of_IN  OTC_NNP  trading_NN  at_IN  Alex_NNP  ._.  Brown_NNP  &_CC  Sons_NNP  ,_,  in_IN  Baltimore_NNP  ,_,  said_VBD  program_NN  trading_NN  is_VBZ  keeping_VBG  the_DT  markets_NNS  unsettled_JJ  ._. 
He_PRP  believes_VBZ  that_IN  the_DT  volatile_JJ  conditions_NNS  created_VBN  by_IN  program_NN  trading_NN  has_VBZ  ``_``  thoroughly_RB  confused_VBN  ''_''  investors_NNS  about_IN  where_WRB  the_DT  market_NN  is_VBZ  headed_VBN  ._. 
Program_NN  trading_NN  is_VBZ  ``_``  benefiting_VBG  a_DT  few_JJ  to_TO  the_DT  detriment_NN  of_IN  many_JJ  and_CC  I_PRP  wish_VBP  someone_NN  would_MD  do_VB  something_NN  about_IN  it_PRP  ,_,  ''_''  he_PRP  complained_VBD  ._. 
Trading_NN  activity_NN  cooled_VBN  off_IN  from_IN  Monday_NNP  's_POS  sizzling_JJ  pace_NN  ._. 
Share_NN  turnover_NN  subsided_VBD  to_TO  161.5_CD  million_CD  ._. 
Advancing_VBG  and_CC  declining_VBG  issues_NNS  finished_VBD  about_IN  even_RB  ._. 
Of_IN  the_DT  4,345_CD  stocks_NNS  that_WDT  changed_VBD  hands_NNS  ,_,  1,174_CD  declined_VBD  and_CC  1,040_CD  advanced_VBD  ._. 
One_CD  big_JJ  technology_NN  issue_NN  ,_,  Novell_NNP  ,_,  rode_VBD  the_DT  roller_NN  coaster_NN  ._. 
The_DT  stock_NN  ,_,  which_WDT  finished_VBD  Monday_NNP  at_IN  29_CD  1\/2_CD  ,_,  traded_VBD  as_RB  high_JJ  as_IN  29_CD  3\/4_CD  and_CC  as_RB  low_JJ  as_IN  28_CD  3\/4_CD  before_IN  closing_VBG  at_IN  29_CD  1\/4_CD  ,_,  down_RB  1\/4_CD  ._. 
It_PRP  was_VBD  a_DT  jarring_VBG  day_NN  for_IN  investors_NNS  in_IN  Genetics_NNP  Institute_NNP  ._. 
The_DT  stock_NN  tumbled_VBD  2_CD  3\/4_CD  on_IN  news_NN  that_IN  it_PRP  might_MD  have_VB  to_TO  take_VB  a_DT  charge_NN  against_IN  earnings_NNS  if_IN  it_PRP  ca_MD  n't_RB  successfully_RB  resolve_VB  a_DT  dispute_NN  with_IN  its_PRP$  European_JJ  licensee_NN  ,_,  Boehringer_NNP  Mannheim_NNP  ,_,  over_IN  its_PRP$  anti-anemia_NN  drug_NN  ,_,  EPO_NNP  ._. 
The_DT  stock_NN  recovered_VBD  somewhat_RB  to_TO  finish_VB  1_CD  1\/4_CD  lower_JJR  at_IN  26_CD  1\/4_CD  ._. 
In_IN  a_DT  statement_NN  ,_,  Genetics_NNP  Institute_NNP  said_VBD  the_DT  dispute_NN  with_IN  Boehringer_NNP  centers_NNS  on_IN  questions_NNS  of_IN  the_DT  usability_NN  of_IN  certain_JJ  batches_NNS  of_IN  EPO_NNP  material_NN  valued_VBN  at_IN  $_$  13.6_CD  million_CD  ._. 
Earlier_RBR  this_DT  week_NN  ,_,  Genetics_NNP  Institute_NNP  reported_VBD  wider_JJR  losses_NNS  in_IN  its_PRP$  fiscal_JJ  third_JJ  quarter_NN  ended_VBN  Aug._NNP  31_CD  ._. 
Price_NNP  Co._NNP  jumped_VBD  2_CD  1\/4_CD  to_TO  44_CD  on_IN  1.7_CD  million_CD  shares_NNS  ._. 
The_DT  wholesaler_NN  of_IN  cash_NN  and_CC  carry_VB  merchandise_NN  reported_VBD  fiscal_JJ  fourthquarter_NN  earnings_NNS  that_WDT  were_VBD  better_JJR  than_IN  analysts_NNS  had_VBD  expected_VBN  ._. 
The_DT  company_NN  also_RB  pleased_VBD  analysts_NNS  by_IN  announcing_VBG  four_CD  new_JJ  store_NN  openings_NNS  planned_VBN  for_IN  fiscal_JJ  1990_CD  ,_,  ending_VBG  next_JJ  August_NNP  ._. 
That_DT  will_MD  bring_VB  the_DT  total_NN  for_IN  the_DT  year_NN  to_TO  10_CD  ,_,  from_IN  five_CD  during_IN  fiscal_JJ  1989_CD  ._. 
``_``  Every_DT  year_NN  we_PRP  've_VBP  been_VBN  waiting_VBG  for_IN  stepped-up_JJ  expansion_NN  from_IN  the_DT  company_NN  ._. 
The_DT  news_NN  could_MD  n't_RB  have_VB  been_VBN  better_JJR  ,_,  ''_''  said_VBD  Linda_NNP  Kristiansen_NNP  ,_,  a_DT  Dean_NNP  Witter_NNP  Reynolds_NNP  analyst_NN  ,_,  in_IN  an_DT  interview_NN  ._. 
Intermec_NNP  ,_,  a_DT  maker_NN  of_IN  optical_JJ  character-recognition_NN  devices_NNS  ,_,  also_RB  reported_VBD  higher_JJR  third-quarter_JJ  earnings_NNS  ._. 
Its_PRP$  shares_NNS  added_VBD  3\/4_CD  to_TO  30_CD  3\/4_CD  ._. 
But_CC  favorable_JJ  earnings_NNS  was_VBD  n't_RB  a_DT  guarantee_NN  that_IN  a_DT  stock_NN  's_POS  price_NN  would_MD  improve_VB  yesterday_NN  ._. 
MCI_NNP  Communications_NNPS  tumbled_VBD  2_CD  5\/8_CD  to_TO  42_CD  3\/8_CD  on_IN  4.7_CD  million_CD  shares_NNS  even_RB  though_IN  the_DT  telecommunications_NNS  giant_NN  reported_VBD  a_DT  63_CD  %_NN  increase_NN  in_IN  third-quarter_JJ  profit_NN  ._. 
CoreStates_NNP  Financial_NNP  slipped_VBD  3\/8_CD  to_TO  43_CD  1\/8_CD  in_IN  active_JJ  trading_NN  after_IN  reporting_VBG  that_IN  third-quarter_JJ  earnings_NNS  improved_VBN  to_TO  $_$  1.27_CD  a_DT  share_NN  from_IN  $_$  1.15_CD  a_DT  share_NN  a_DT  year_NN  earlier_RBR  ._. 
However_RB  ,_,  the_DT  bank_NN  holding_VBG  company_NN  's_POS  loan-loss_NN  reserves_NNS  rose_VBD  to_TO  $_$  177.3_CD  million_CD  from_IN  $_$  154_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
A&W_NNP  Brands_NNP  lost_VBD  1\/4_CD  to_TO  27_CD  ._. 
But_CC  its_PRP$  thirdquarter_JJ  earnings_NNS  rose_VBD  to_TO  26_CD  cents_NNS  a_DT  share_NN  from_IN  18_CD  cents_NNS  a_DT  share_NN  last_JJ  year_NN  ._. 
Capital_NNP  Associates_NNPS  dropped_VBD  1_CD  to_TO  5_VB  3\/8_CD  ._. 
The_DT  company_NN  ,_,  which_WDT  leases_VBZ  technology_NN  equipment_NN  ,_,  reported_VBD  substantially_RB  lower_JJR  net_JJ  income_NN  for_IN  its_PRP$  fiscal_JJ  first_JJ  quarter_NN  ,_,  which_WDT  ended_VBN  Aug._NNP  31_CD  ._. 
Robert_NNP  M._NNP  Jelenic_NNP  ,_,  39_CD  ,_,  was_VBD  named_VBN  president_NN  and_CC  chief_JJ  operating_VBG  officer_NN  of_IN  this_DT  closely_RB  held_VBN  publisher_NN  ._. 
The_DT  post_NN  had_VBD  been_VBN  vacant_JJ  for_IN  more_JJR  than_IN  a_DT  year_NN  ._. 
Mr._NNP  Jelenic_NNP  had_VBD  been_VBN  executive_JJ  vice_NN  president_NN  for_IN  operations_NNS  ._. 
In_IN  addition_NN  ,_,  Ralph_NNP  Ingersoll_NNP  II_NNP  ,_,  43_CD  ,_,  chairman_NN  and_CC  chief_JJ  executive_NN  ,_,  said_VBD  he_PRP  would_MD  take_VB  on_IN  additional_JJ  responsibilities_NNS  as_IN  editor_NN  in_IN  chief_NN  of_IN  the_DT  company_NN  ._. 
John_NNP  Wilpers_NNP  resigned_VBD  as_IN  editor_NN  in_IN  chief_NN  ._. 
Mr._NNP  Ingersoll_NNP  remains_VBZ  editor_NN  in_IN  chief_NN  of_IN  the_DT  company_NN  's_POS  recently_RB  launched_VBN  daily_JJ  ,_,  the_DT  St._NNP  Louis_NNP  Sun_NNP  ._. 
Also_RB  ,_,  Jean_NNP  B._NNP  Clifton_NNP  ,_,  28_CD  ,_,  was_VBD  named_VBN  executive_JJ  vice_NN  president_NN  ,_,  treasurer_NN  and_CC  chief_JJ  financial_JJ  officer_NN  ._. 
Michael_NNP  Applebaum_NNP  resigned_VBD  after_IN  less_JJR  than_IN  a_DT  year_NN  in_IN  the_DT  posts_NNS  ._. 
Ms._NNP  Clifton_NNP  had_VBD  been_VBN  executive_NN  financial_JJ  assistant_NN  to_TO  the_DT  chairman_NN  ._. 
Certainly_RB  conservative_JJ  environmentalists_NNS  can_MD  defend_VB  their_PRP$  limited_JJ  government_NN  position_NN  by_IN  differentiating_VBG  between_IN  Old_NNP  Environmentalism_NNP  and_CC  New_NNP  Environmentalism_NNP  -LRB-_(  ``_``  Journalists_NNS  and_CC  Others_NNS  for_IN  Saving_VBG  the_DT  Planet_NNP  ,_,  ''_''  by_IN  David_NNP  Brooks_NNP  ,_,  editorial_NN  page_NN  ,_,  Oct._NNP  5_NN  -RRB-_)  ._. 
Old_NNP  Environmentalism_NNP  involved_VBD  microbe_NN  hunters_NNS  and_CC  sanitationists_NNS  ._. 
It_PRP  started_VBD  with_IN  improvements_NNS  in_IN  hygiene_NN  made_VBD  possible_JJ  by_IN  affordable_JJ  soap_NN  and_CC  washable_JJ  underwear_NN  during_IN  the_DT  Industrial_NNP  Revolution_NNP  ._. 
Then_RB  cast-iron_NN  sewer_NN  pipe_NN  and_CC  the_DT  flush_JJ  toilet_NN  were_VBD  followed_VBN  by_IN  sewage_NN  -_:  and_CC  water-treatment_NN  plants_NNS  toward_IN  the_DT  end_NN  of_IN  the_DT  19th_JJ  century_NN  ._. 
Medicine_NNP  in_IN  the_DT  19th_JJ  century_NN  was_VBD  dedicated_VBN  mostly_RB  to_TO  combating_VBG  sepsis_NN  and_CC  diagnostic_JJ  analysis_NN  ._. 
Then_RB  the_DT  20th_JJ  century_NN  saw_VBD  the_DT  evolution_NN  of_IN  private-sector_JJ  wonder_NN  drugs_NNS  ,_,  which_WDT  promulgated_VBD  medical_JJ  therapy_NN  ._. 
The_DT  process_NN  dramatically_RB  increased_VBD  our_PRP$  average_JJ  life_NN  expectancy_NN  ,_,  eliminated_VBN  much_JJ  pain_NN  and_CC  constantly_RB  improved_VBN  health_NN  and_CC  well-being_NN  ._. 
Most_JJS  public-health_JJ  measures_NNS  were_VBD  handled_VBN  at_IN  the_DT  local_JJ  level_NN  ._. 
New_NNP  Environmentalism_NNP  probably_RB  started_VBD  in_IN  1962_CD  with_IN  the_DT  publication_NN  of_IN  Rachel_NNP  Carson_NNP  's_POS  book_NN  ``_``  Silent_NNP  Spring_NNP  ._.  ''_'' 
Shortly_RB  thereafter_RB  ,_,  hysterical_JJ  articles_NNS  began_VBD  to_TO  appear_VB  predicting_VBG  that_WDT  advanced_VBD  industrial_JJ  societies_NNS  would_MD  produce_VB  a_DT  blackened_VBN  ,_,  uninhabitable_JJ  planet_NN  possibly_RB  by_IN  the_DT  turn_NN  of_IN  the_DT  century_NN  ._. 
These_DT  apocalyptic_JJ  predictions_NNS  were_VBD  advanced_VBN  by_IN  such_JJ  stalwarts_NNS  as_IN  Paul_NNP  Ehrlich_NNP  ,_,  Barry_NNP  Commoner_NNP  ,_,  Rene_NNP  Dubois_NNP  and_CC  George_NNP  Wald_NNP  ._. 
Writing_VBG  in_IN  the_DT  1960s_CD  Ms._NNP  Carson_NNP  suggested_VBD  that_IN  the_DT  human_JJ  race_NN  could_MD  be_VB  eliminated_VBN  in_IN  20_CD  years_NNS  ,_,  and_CC  Mr._NNP  Wald_NNP  suggested_VBD  that_DT  life_NN  on_IN  earth_NN  might_MD  end_VB  by_IN  1985_CD  ._. 
Mr._NNP  Ehrlich_NNP  predicted_VBD  unprecedented_JJ  famine_NN  by_IN  1980_CD  ._. 
There_EX  were_VBD  many_RB  more_JJR  ._. 
Thousands_NNS  of_IN  chemical_NN  products_NNS  were_VBD  categorized_VBN  as_IN  carcinogenic_JJ  ,_,  with_IN  recommendations_NNS  that_IN  they_PRP  be_VBP  banned_VBN  from_IN  industrial_JJ  use_NN  because_IN  they_PRP  produced_VBD  malignant_JJ  tumors_NNS  in_IN  overdosed_VBN  rats_NNS  ._. 
Unknown_JJ  before_IN  1960_CD  were_VBD  the_DT  inconclusive_JJ  effects_NNS  of_IN  acid_NN  rain_NN  ,_,  greenhouse_NN  warming_NN  and_CC  ozone_NN  depletion_NN  ,_,  all_DT  of_IN  which_WDT  required_VBD  burgeoning_VBG  political_JJ  power_NN  and_CC  gargantuan_JJ  expense_NN  ._. 
Meanwhile_RB  ,_,  the_DT  New_NNP  Environmentalists_NNS  systematically_RB  opposed_VBN  the_DT  methods_NNS  of_IN  the_DT  Old_NNP  Environmentalists_NNS  ._. 
Local_JJ  pollution_NN  problems_NNS  require_VBP  cheap_JJ  energy_NN  and_CC  capital_NN  for_IN  their_PRP$  solution_NN  ._. 
But_CC  the_DT  New_NNP  Environmentalists_NNS  oppose_VBP  private_JJ  wealth_NN  creation_NN  -LRB-_(  which_WDT  ,_,  they_PRP  claim_VBP  ,_,  depletes_VBZ  natural_JJ  resources_NNS  -RRB-_)  and_CC  nuclear_JJ  power_NN  -LRB-_(  even_RB  though_IN  it_PRP  would_MD  counteract_VB  the_DT  greenhouse_NN  effect_NN  -RRB-_)  ._. 
They_PRP  are_VBP  in_IN  the_DT  forefront_NN  of_IN  opposing_VBG  the_DT  search_NN  for_IN  new_JJ  landfills_NNS  and_CC  methods_NNS  of_IN  incineration_NN  and_CC  even_RB  oppose_VB  new_JJ  methods_NNS  of_IN  research_NN  such_JJ  as_IN  genetic_JJ  engineering_NN  ._. 
New_NNP  Environmentalism_NNP  is_VBZ  an_DT  emotional_JJ  attack_NN  on_IN  proven_VBN  methods_NNS  of_IN  improving_VBG  our_PRP$  quality_NN  of_IN  life_NN  and_CC  a_DT  bid_NN  for_IN  political_JJ  power_NN  ._. 
Let_VB  's_POS  rationalize_VB  our_PRP$  priorities_NNS  by_IN  solving_VBG  pollution_NN  problems_NNS  at_IN  the_DT  local_JJ  level_NN  as_IN  heretofore_RB  ._. 
Harry_NNP  Lee_NNP  Smith_NNP  Alpharetta_NNP  ,_,  Ga_NNP  ._. 
Your_PRP$  story_NN  missed_VBD  some_DT  essential_JJ  points_NNS  of_IN  the_DT  conference_NN  on_IN  ``_``  The_DT  Global_NNP  Environment_NNP  :_:  Are_VBP  We_PRP  Overreacting_VBG  ?_.  ''_'' 
First_NNP  and_CC  foremost_JJ  ,_,  the_DT  vignettes_NNS  presented_VBN  by_IN  the_DT  various_JJ  scientists_NNS  represent_VBP  a_DT  general_JJ  consensus_NN  among_IN  specialists_NNS  working_VBG  in_IN  the_DT  respective_JJ  aspects_NNS  of_IN  the_DT  global_JJ  environment_NN  ._. 
Consider_VB  ,_,  for_IN  example_NN  ,_,  the_DT  greenhouse_NN  effect_NN  and_CC  climate_NN  change_NN  ;_:  numerous_JJ  blue-ribbon_JJ  scientific_JJ  committees_NNS  ,_,  including_VBG  one_CD  from_IN  the_DT  National_NNP  Academy_NNP  of_IN  Science_NNP  ,_,  judge_NN  there_EX  is_VBZ  a_DT  greater_JJR  than_IN  50_CD  %_NN  probability_NN  of_IN  a_DT  grave_JJ  problem_NN  in_IN  the_DT  offing_NN  ._. 
The_DT  point_NN  was_VBD  to_TO  answer_VB  the_DT  question_NN  in_IN  the_DT  conference_NN  title_NN  ,_,  not_RB  to_TO  try_VB  to_TO  create_VB  news_NN  stories_NNS  for_IN  the_DT  event_NN  itself_PRP  ._. 
Nor_CC  was_VBD  it_PRP  intended_VBD  to_TO  dictate_VB  a_DT  set_NN  of_IN  prescriptive_JJ  solutions_NNS  ,_,  although_IN  various_JJ  points_NNS  were_VBD  raised_VBN  ._. 
Each_DT  speaker_NN  was_VBD  asked_VBN  to_TO  address_VB  a_DT  specific_JJ  topic_NN  ,_,  not_RB  deliver_VB  a_DT  point_NN  of_IN  view_NN  ._. 
Each_DT  scientist_NN  independently_RB  concluded_VBD  society_NN  and_CC  government_NN  are_VBP  underreacting_VBG  when_WRB  it_PRP  comes_VBZ  to_TO  substantive_JJ  policy_NN  change_NN  ._. 
This_DT  leads_VBZ  to_TO  a_DT  very_RB  special_JJ  sense_NN  of_IN  urgency_NN  ._. 
If_IN  the_DT  media_NNS  decide_VBP  to_TO  work_VB  harder_JJR  at_IN  educating_VBG  the_DT  public_NN  about_IN  these_DT  complex_JJ  and_CC  technical_JJ  issues_NNS  ,_,  that_IN  hardly_RB  can_MD  be_VB  termed_VBN  non-objective_JJ  journalism_NN  ._. 
The_DT  environment_NN  can_MD  no_RB  longer_RB  be_VB  a_DT  normal_JJ  issue_NN  ,_,  to_TO  be_VB  dealt_VBN  with_IN  on_IN  a_DT  business-as-usual_JJ  basis_NN  with_IN  comfortable_JJ  increments_NNS  of_IN  change_NN  ._. 
We_PRP  have_VBP  literally_RB  altered_VBN  the_DT  chemistry_NN  and_CC  physics_NN  of_IN  our_PRP$  planet_NN  's_POS  atmosphere_NN  ._. 
This_DT  portends_VBZ  consequences_NNS  from_IN  what_WP  we_PRP  have_VBP  already_RB  done_VBN  that_WDT  will_MD  be_VB  very_RB  destabilizing_VBG  to_TO  social_JJ  and_CC  economic_JJ  systems_NNS  ._. 
The_DT  problems_NNS  of_IN  the_DT  environment_NN  are_VBP  so_RB  interrelated_VBN  ,_,  so_RB  inextricably_RB  entwined_VBN  with_IN  our_PRP$  current_JJ  way_NN  of_IN  life_NN  and_CC  so_RB  large_JJ  that_IN  it_PRP  is_VBZ  unlikely_JJ  we_PRP  will_MD  be_VB  able_JJ  to_TO  address_VB  them_PRP  effectively_RB  unless_IN  major_JJ  changes_NNS  are_VBP  made_VBN  in_IN  less_JJR  than_IN  10_CD  years_NNS  ._. 
The_DT  consensus_NN  from_IN  the_DT  scientific_JJ  community_NN  is_VBZ  that_IN  there_EX  is_VBZ  sufficient_JJ  evidence_NN  to_TO  advise_VB  major_JJ  policy_NN  changes_NNS  ._. 
No_DT  ,_,  we_PRP  are_VBP  not_RB  overreacting_VBG  ._. 
Thomas_NNP  E._NNP  Lovejoy_NNP  Assistant_NNP  Secretary_NNP  for_IN  External_NNP  Affairs_NNP  Smithsonian_NNP  Institution_NNP 
Coca-Cola_NNP  Enterprises_NNPS  Inc._NNP  ,_,  fulfilling_VBG  its_PRP$  dismal_JJ  earnings_NNS  forecast_NN  for_IN  1989_CD  ,_,  said_VBD  its_PRP$  third-quarter_JJ  net_JJ  income_NN  fell_VBD  68_CD  %_NN  on_IN  flat_JJ  revenue_NN  ._. 
Stung_VBN  by_IN  higher_JJR  marketing_NN  costs_NNS  and_CC  slowing_VBG  volume_NN  growth_NN  ,_,  the_DT  giant_NN  Coke_NNP  bottling_NN  operation_NN  said_VBD  net_NN  fell_VBD  to_TO  $_$  12.7_CD  million_CD  ,_,  or_CC  six_CD  cents_NNS  a_DT  share_NN  ,_,  from_IN  $_$  39.9_CD  million_CD  ,_,  or_CC  26_CD  cents_NNS  a_DT  share_NN  ,_,  the_DT  year_NN  earlier_RBR  ._. 
The_DT  results_NNS  met_VBD  estimates_NNS  of_IN  analysts_NNS  ,_,  who_WP  had_VBD  already_RB  slashed_VBN  their_PRP$  projections_NNS  after_IN  the_DT  company_NN  said_VBD  in_IN  late_JJ  August_NNP  that_IN  its_PRP$  1989_CD  earnings_NNS  could_MD  tumble_VB  as_RB  much_JJ  as_IN  37_CD  %_NN  ._. 
A_DT  company_NN  spokesman_NN  said_VBD  yesterday_NN  that_IN  Coca-Cola_NNP  Enterprises_NNPS  sticks_NNS  by_IN  its_PRP$  1989_CD  forecast_NN  ._. 
Third-quarter_JJ  revenue_NN  was_VBD  flat_JJ  at_IN  $_$  1.02_CD  billion_CD  ._. 
The_DT  year-ago_JJ  results_NNS  ,_,  however_RB  ,_,  included_VBD  the_DT  operations_NNS  of_IN  a_DT  bottling_NN  business_NN  ,_,  which_WDT  was_VBD  sold_VBN  last_JJ  December_NNP  ._. 
Excluding_VBG  that_DT  bottling_NN  business_NN  ,_,  Coca-Cola_NNP  Enterprises_NNPS  '_POS  volume_NN  ,_,  measured_VBN  by_IN  cases_NNS  of_IN  soda_NN  ,_,  rose_VBD  only_RB  1_CD  %_NN  ._. 
The_DT  volume_NN  is_VBZ  well_RB  below_IN  the_DT  industry_NN  's_POS  4_CD  %_NN  to_TO  5_VB  %_NN  growth_NN  rate_NN  of_IN  recent_JJ  years_NNS  ,_,  but_CC  in_IN  line_NN  with_IN  other_JJ  soft-drink_NN  companies_NNS  for_IN  the_DT  third_JJ  quarter_NN  ._. 
The_DT  latest_JJS  third-quarter_JJ  volume_NN  also_RB  compares_VBZ  with_IN  a_DT  very_RB  strong_JJ  10_CD  %_NN  growth_NN  in_IN  the_DT  year-ago_JJ  quarter_NN  ._. 
Coca-Cola_NNP  Enterprises_NNPS  blamed_VBD  the_DT  lower_JJR  volume_NN  on_IN  its_PRP$  soft-drink_NN  prices_NNS  ,_,  which_WDT  were_VBD  about_IN  3_CD  %_NN  higher_JJR  in_IN  the_DT  third_JJ  quarter_NN  ._. 
Consumers_NNS  have_VBP  been_VBN  accustomed_VBN  to_TO  buying_VBG  soft-drinks_NNS  at_IN  discounted_VBN  prices_NNS  for_IN  several_JJ  years_NNS  ._. 
Coca-Cola_NNP  Enterprises_NNPS  said_VBD  it_PRP  had_VBD  to_TO  boost_VB  spending_NN  for_IN  trade_NN  and_CC  dealer_NN  incentives_NNS  to_TO  try_VB  to_TO  keep_VB  volumes_NNS  from_IN  slipping_VBG  ._. 
The_DT  company_NN  said_VBD  it_PRP  expects_VBZ  consumers_NNS  will_MD  adjust_VB  to_TO  higher-priced_JJ  soft_JJ  drinks_NNS  ._. 
A_DT  spokesman_NN  attributed_VBD  the_DT  bulk_NN  of_IN  a_DT  14_CD  %_NN  increase_NN  in_IN  selling_VBG  ,_,  administrative_JJ  and_CC  general_JJ  expenses_NNS  --_:  to_TO  $_$  324.9_CD  million_CD  --_:  to_TO  marketing_NN  costs_NNS  ._. 
``_``  They_PRP  're_VBP  out_IN  there_RB  promoting_VBG  like_IN  crazy_JJ  ,_,  trying_VBG  to_TO  get_VB  prices_NNS  up_IN  by_IN  promotion_NN  ,_,  ''_''  said_VBD  Roy_NNP  Burry_NNP  ,_,  an_DT  analyst_NN  with_IN  Kidder_NNP  ,_,  Peabody_NNP  &_CC  Co_NNP  ._. 
For_IN  the_DT  nine_CD  months_NNS  ,_,  Coca-Cola_NNP  Enterprises_NNPS  '_POS  net_NN  fell_VBD  31_CD  %_NN  to_TO  $_$  65_CD  million_CD  ,_,  or_CC  39_CD  cents_NNS  a_DT  share_NN  ,_,  from_IN  $_$  93.8_CD  million_CD  ,_,  or_CC  63_CD  cents_NNS  a_DT  share_NN  ._. 
Revenue_NN  was_VBD  flat_JJ  at_IN  about_RB  $_$  2.97_CD  billion_CD  ._. 
Coca-Cola_NNP  Enterprises_NNPS  ,_,  which_WDT  is_VBZ  49%-owned_JJ  by_IN  Coca-Cola_NNP  Co._NNP  ,_,  also_RB  said_VBD  it_PRP  repurchased_VBD  about_IN  1.2_CD  million_CD  of_IN  its_PRP$  common_JJ  shares_NNS  during_IN  the_DT  third_JJ  quarter_NN  ._. 
The_DT  buy-back_NN  is_VBZ  part_NN  of_IN  a_DT  25-million-share_JJ  repurchase_NN  plan_NN  ,_,  under_IN  which_WDT  Coca-Cola_NNP  Enterprises_NNPS  so_RB  far_RB  has_VBZ  acquired_VBN  a_DT  total_NN  of_IN  9.7_CD  million_CD  shares_NNS  ._. 
Separately_RB  ,_,  Purchase_NNP  ,_,  N.Y.-based_JJ  PepsiCo_NNP  Inc._NNP  ,_,  as_IN  expected_VBN  ,_,  said_VBD  fiscal_JJ  third-quarter_JJ  net_NN  rose_VBD  11_CD  %_NN  to_TO  $_$  269.3_CD  million_CD  ,_,  or_CC  $_$  1.02_CD  a_DT  share_NN  ,_,  from_IN  $_$  241.6_CD  million_CD  ,_,  or_CC  91_CD  cents_NNS  a_DT  share_NN  ._. 
Sales_NNS  rose_VBD  25_CD  %_NN  to_TO  $_$  3.90_CD  billion_CD  from_IN  $_$  3.13_CD  billion_CD  ._. 
The_DT  year-ago_JJ  quarter_NN  's_POS  results_NNS  include_VBP  an_DT  after-tax_JJ  charge_NN  of_IN  $_$  5.9_CD  million_CD  from_IN  the_DT  sale_NN  of_IN  a_DT  winery_NN  in_IN  Spain_NNP  ._. 
In_IN  composite_JJ  trading_NN  on_IN  the_DT  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  ,_,  Coca-Cola_NNP  Enterprises_NNPS  closed_VBD  at_IN  $_$  16.375_CD  a_DT  share_NN  ,_,  down_RB  62.5_CD  cents_NNS  ._. 
PepsiCo_NNP  closed_VBD  at_IN  $_$  58.50_CD  a_DT  share_NN  ,_,  up_IN  $_$  1.375_CD  ._. 
L.J._NNP  Hooker_NNP  Corp._NNP  is_VBZ  expected_VBN  to_TO  reach_VB  an_DT  agreement_NN  in_IN  principle_NN  this_DT  week_NN  to_TO  sell_VB  Merksamer_NNP  Jewelers_NNP  Inc._NNP  to_TO  management_NN  ,_,  say_VBP  executives_NNS  familiar_JJ  with_IN  the_DT  talks_NNS  ._. 
L.J._NNP  Hooker_NNP  ,_,  based_VBN  in_IN  Atlanta_NNP  ,_,  filed_VBN  for_IN  Chapter_NN  11_CD  bankruptcy_NN  protection_NN  earlier_RBR  this_DT  year_NN  ._. 
Currently_RB  ,_,  its_PRP$  parent_NN  company_NN  ,_,  Hooker_NNP  Corp._NNP  of_IN  Sydney_NNP  ,_,  Australia_NNP  ,_,  is_VBZ  being_VBG  managed_VBN  by_IN  a_DT  court-appointed_JJ  liquidator_NN  ._. 
It_PRP  is_VBZ  expected_VBN  that_IN  GE_NNP  Capital_NNP  Corp._NNP  ,_,  a_DT  financial-services_NNS  subsidiary_NN  of_IN  General_NNP  Electric_NNP  Co._NNP  ,_,  will_MD  provide_VB  much_NN  of_IN  the_DT  funding_NN  for_IN  the_DT  proposed_VBN  leveraged_JJ  buy-out_NN  of_IN  Merksamer_NNP  ,_,  based_VBN  in_IN  Sacramento_NNP  ,_,  Calif_NNP  ._. 
A_DT  spokesman_NN  for_IN  GE_NNP  Capital_NNP  declined_VBD  to_TO  comment_VB  ._. 
GE_NNP  Capital_NNP  has_VBZ  a_DT  working_VBG  relationship_NN  with_IN  L.J._NNP  Hooker_NNP  ._. 
It_PRP  is_VBZ  providing_VBG  $_$  50_CD  million_CD  in_IN  emergency_NN  financing_NN  to_TO  the_DT  company_NN  and_CC  has_VBZ  agreed_VBN  to_TO  buy_VB  as_RB  much_JJ  as_IN  $_$  75_CD  million_CD  in_IN  receivables_NN  from_IN  B._NNP  Altman_NNP  &_CC  Co._NNP  and_CC  Bonwit_NNP  Teller_NNP  ,_,  L.J._NNP  Hooker_NNP  's_POS  two_CD  fully_RB  owned_VBN  department-store_NN  chains_NNS  ._. 
Sam_NNP  Merksamer_NNP  ,_,  chief_JJ  executive_JJ  officer_NN  of_IN  the_DT  nationwide_JJ  jewelry_NN  chain_NN  ,_,  and_CC  Sanford_NNP  Sigoloff_NNP  ,_,  chief_JJ  executive_NN  of_IN  L.J._NNP  Hooker_NNP  Corp._NNP  ,_,  both_DT  declined_VBD  to_TO  comment_VB  ._. 
Currently_RB  ,_,  Mr._NNP  Merksamer_NNP  owns_VBZ  20_CD  %_NN  of_IN  the_DT  company_NN  ;_:  L.J._NNP  Hooker_NNP  acquired_VBD  its_PRP$  80_CD  %_NN  interest_NN  in_IN  the_DT  firm_NN  in_IN  May_NNP  1986_CD  ._. 
At_IN  the_DT  time_NN  ,_,  the_DT  Merksamer_NNP  chain_NN  had_VBD  11_CD  stores_NNS  in_IN  operation_NN  ._. 
Today_NN  ,_,  there_EX  are_VBP  77_CD  units_NNS  ,_,  all_DT  located_VBN  in_IN  shopping_NN  malls_NNS  ._. 
In_IN  recent_JJ  weeks_NNS  Mr._NNP  Merksamer_NNP  has_VBZ  approached_VBN  a_DT  number_NN  of_IN  his_PRP$  suppliers_NNS  and_CC  asked_VBD  them_PRP  to_TO  provide_VB  letters_NNS  of_IN  intent_NN  saying_VBG  they_PRP  will_MD  continue_VB  shipping_VBG  merchandise_NN  to_TO  the_DT  chain_NN  following_VBG  the_DT  buy-out_NN  ,_,  say_VBP  those_DT  familiar_NN  with_IN  the_DT  situation_NN  ._. 
This_DT  year_NN  ,_,  a_DT  number_NN  of_IN  retail_JJ  leveraged_JJ  buyouts_NNS  have_VBP  failed_VBN  ,_,  causing_VBG  jitters_NNS  among_IN  suppliers_NNS  ,_,  and_CC  Mr._NNP  Merksamer_NNP  apparently_RB  wanted_VBD  assurances_NNS  that_IN  he_PRP  wo_MD  n't_RB  have_VB  delivery_NN  problems_NNS  ._. 
For_IN  the_DT  year_NN  ended_VBN  June_NNP  30_CD  ,_,  1989_CD  ,_,  Merksamer_NNP  Jewelers_NNPS  had_VBD  $_$  62_CD  million_CD  of_IN  revenue_NN  and_CC  operating_VBG  profit_NN  of_IN  $_$  2.5_CD  million_CD  ._. 
The_DT  jewelery_NN  chain_NN  was_VBD  put_VBN  up_IN  for_IN  sale_NN  in_IN  June_NNP  ._. 
According_VBG  to_TO  those_DT  familiar_NN  with_IN  the_DT  situation_NN  ,_,  other_JJ  bidders_NNS  included_VBD  Ratners_NNP  Group_NNP  PLC_NNP  of_IN  London_NNP  and_CC  Kay_NNP  Jewelers_NNP  Inc_NNP  ._. 
First_NNP  Boston_NNP  Corp._NNP  is_VBZ  advising_VBG  L.J._NNP  Hooker_NNP  on_IN  the_DT  sale_NN  of_IN  the_DT  Merksamer_NNP  business_NN  ._. 
Merksamer_NNP  was_VBD  the_DT  first_JJ  in_IN  a_DT  series_NN  of_IN  retail_JJ  acquisitions_NNS  made_VBN  by_IN  L.J._NNP  Hooker_NNP  ._. 
The_DT  company_NN  was_VBD  founded_VBN  in_IN  Sacramento_NNP  in_IN  1929_CD  by_IN  two_CD  brothers_NNS  ,_,  Ralph_NNP  and_CC  Walter_NNP  Merksamer_NNP  ,_,  who_WP  operated_VBD  as_IN  DeVon_NNP  's_POS  Jewelers_NNPS  ._. 
In_IN  1979_CD  ,_,  the_DT  pair_NN  split_NN  the_DT  company_NN  in_IN  half_NN  ,_,  with_IN  Walter_NNP  and_CC  his_PRP$  son_NN  ,_,  Sam_NNP  ,_,  agreeing_VBG  to_TO  operate_VB  under_IN  the_DT  Merksamer_NNP  Jewelery_NNP  name_NN  ._. 
The_DT  sale_NN  of_IN  Merksamer_NNP  Jewelers_NNPS  is_VBZ  subject_NN  to_TO  approval_NN  by_IN  Judge_NNP  Tina_NNP  Brozman_NNP  of_IN  U.S._NNP  Bankruptcy_NNP  Court_NNP  ._. 
As_IN  earlier_RBR  reported_VBD  ,_,  L.J._NNP  Hooker_NNP  this_DT  week_NN  received_VBD  a_DT  $_$  409_CD  million_CD  bid_NN  for_IN  its_PRP$  three_CD  shopping_NN  malls_NNS  ,_,  plus_CC  other_JJ  properties_NNS  from_IN  a_DT  consortium_NN  led_VBN  by_IN  Honolulu_NNP  real-estate_NN  investor_NN  Jay_NNP  Shidler_NNP  and_CC  A._NNP  Boyd_NNP  Simpson_NNP  ,_,  an_DT  Atlanta_NNP  developer_NN  and_CC  former_JJ  L.J._NNP  Hooker_NNP  senior_JJ  executive_NN  ._. 
The_DT  offer_NN  ,_,  which_WDT  did_VBD  n't_RB  include_VB  the_DT  Merksamer_NNP  chain_NN  ,_,  is_VBZ  being_VBG  reviewed_VBN  by_IN  Mr._NNP  Sigoloff_NNP  ._. 
Robert_NNP  J._NNP  Regal_NNP  was_VBD  named_VBN  president_NN  and_CC  chief_JJ  executive_JJ  officer_NN  of_IN  this_DT  company_NN  's_POS  Universal-Rundle_NNP  Corp._NNP  unit_NN  ._. 
Mr._NNP  Regal_NNP  had_VBD  been_VBN  president_NN  and_CC  chief_JJ  executive_NN  of_IN  RBS_NNP  Industries_NNP  Inc_NNP  ._. 
Robert_NNP  H._NNP  Carlson_NNP  ,_,  previous_JJ  president_NN  and_CC  chief_JJ  executive_NN  of_IN  Universal-Rundle_NNP  ,_,  will_MD  assume_VB  the_DT  title_NN  of_IN  chairman_NN  of_IN  the_DT  unit_NN  ,_,  a_DT  vitreous-china_NN  maker_NN  ._. 
The_DT  days_NNS  may_MD  be_VB  numbered_VBN  for_IN  animated_JJ  shows_NNS  featuring_VBG  Alf_NNP  ,_,  the_DT  Karate_NNP  Kid_NNP  and_CC  the_DT  Chipmunks_NNPS  ._. 
NBC_NNP  ,_,  a_DT  leader_NN  in_IN  morning_NN  ,_,  prime-time_JJ  and_CC  late_JJ  night_NN  programs_NNS  but_CC  an_DT  also-ran_NN  on_IN  Saturday_NNP  mornings_NNS  ,_,  when_WRB  children_NNS  rule_VBP  the_DT  TV_NN  set_VBN  ,_,  is_VBZ  contemplating_VBG  getting_VBG  out_IN  of_IN  the_DT  cartoon_NN  business_NN  ._. 
Instead_RB  ,_,  network_NN  officials_NNS  say_VBP  ,_,  it_PRP  may_MD  ``_``  counterprogram_VB  ''_''  with_IN  shows_VBZ  for_IN  an_DT  audience_NN  that_WDT  is_VBZ  virtually_RB  ignored_VBN  in_IN  that_DT  time_NN  period_NN  :_:  adults_NNS  ._. 
``_``  There_EX  is_VBZ  talk_VB  of_IN  some_DT  revamping_VBG  and_CC  we_PRP  're_VBP  certainly_RB  heading_VBG  in_IN  the_DT  direction_NN  of_IN  less_JJR  and_CC  less_JJR  animation_NN  ,_,  ''_''  said_VBD  Joseph_NNP  S._NNP  Cicero_NNP  ,_,  vice_NN  president_NN  of_IN  finance_NN  and_CC  administration_NN  for_IN  National_NNP  Broadcasting_NNP  Co._NNP  ,_,  a_DT  unit_NN  of_IN  General_NNP  Electric_NNP  Co_NNP  ._. 
Mr._NNP  Cicero_NNP  said_VBD  that_IN  NBC_NNP  Entertainment_NNP  president_NNP  Brandon_NNP  Tartikoff_NNP  ,_,  who_WP  declined_VBD  to_TO  be_VB  interviewed_VBN  ,_,  is_VBZ  ``_``  looking_VBG  at_IN  options_NNS  now_RB  and_CC  may_MD  put_VB  some_DT  things_NNS  into_IN  the_DT  schedule_NN  by_IN  mid-season_NN  ._.  ''_'' 
He_PRP  declined_VBD  to_TO  elaborate_VB  ._. 
NBC_NNP  's_POS  options_NNS  could_MD  range_VB  from_IN  news-oriented_JJ  programming_NN  to_TO  sports_NNS  shows_VBZ  ,_,  although_IN  the_DT  network_NN  declined_VBD  to_TO  comment_VB  ._. 
One_CD  major_JJ  NBC_NNP  affiliate_NN  ,_,  KCRA_NNP  in_IN  Sacramento_NNP  ,_,  plans_VBZ  to_TO  cancel_VB  the_DT  NBC_NNP  Saturday_NNP  morning_NN  line-up_NN  as_IN  of_IN  January_NNP  and_CC  replace_VB  it_PRP  with_IN  a_DT  local_JJ  newscast_NN  ._. 
The_DT  one-hour_JJ  program_NN  will_MD  be_VB  repeated_VBN  with_IN  updates_NNS  throughout_IN  Saturday_NNP  mornings_NNS  ._. 
``_``  We_PRP  feel_VBP  there_EX  is_VBZ  an_DT  opportunity_NN  for_IN  an_DT  audience_NN  that_WDT  is_VBZ  not_RB  being_VBG  served_VBN  by_IN  any_DT  network_NN  ,_,  so_IN  we_PRP  want_VBP  to_TO  take_VB  the_DT  lead_NN  ,_,  ''_''  says_VBZ  KCRA_NNP  's_POS  general_JJ  manager_NN  ,_,  John_NNP  Kueneke_NNP  ._. 
``_``  We_PRP  do_VBP  n't_RB  need_VB  cartoons_NNS  anymore_RB  ._. 
They_PRP  only_RB  accounted_VBD  for_IN  5_NN  %_NN  ,_,  at_IN  best_JJS  ,_,  of_IN  the_DT  station_NN  's_POS  total_JJ  revenues_NNS  ._.  ''_'' 
An_DT  NBC_NNP  spokesman_NN  says_VBZ  the_DT  network_NN  will_MD  ``_``  closely_RB  monitor_VB  ''_''  the_DT  Sacramento_NNP  situation_NN  ,_,  and_CC  says_VBZ  it_PRP  is_VBZ  the_DT  only_JJ  station_NN  to_TO  defect_VB  ._. 
Spokesmen_NNS  for_IN  the_DT  television_NN  networks_NNS  of_IN  CBS_NNP  Inc._NNP  and_CC  Capital_NNP  Cities\/ABC_NNP  Inc._NNP  ,_,  say_VBP  there_EX  are_VBP  no_DT  plans_NNS  to_TO  alter_VB  the_DT  children_NNS  's_POS  line-up_NN  on_IN  Saturday_NNP  mornings_NNS  ._. 
The_DT  youthful_JJ  audience_NN  for_IN  Saturday_NNP  programming_NN  is_VBZ  no_RB  longer_RB  dependent_JJ  on_IN  the_DT  networks_NNS  ._. 
There_EX  has_VBZ  been_VBN  a_DT  surge_NN  in_IN  syndicated_VBN  children_NNS  's_POS  shows_VBZ  to_TO  independent_JJ  stations_NNS  ,_,  as_RB  well_RB  as_IN  competition_NN  from_IN  videocassettes_NNS  for_IN  kids_NNS  and_CC  from_IN  cable_NN  outlets_NNS  such_JJ  as_IN  Nickelodeon_NNP  and_CC  the_DT  Disney_NNP  Channel_NNP  ._. 
At_IN  the_DT  same_JJ  time_NN  ,_,  there_EX  appears_VBZ  to_TO  be_VB  a_DT  market_NN  for_IN  news-oriented_JJ  programming_NN  ;_:  Turner_NNP  Broadcasting_NNP  System_NNP  Inc._NNP  's_POS  Cable_NNP  News_NNP  Network_NNP  has_VBZ  its_PRP$  highest_JJS  ratings_NNS  ,_,  outside_IN  of_IN  prime_JJ  time_NN  ,_,  on_IN  Saturday_NNP  mornings_NNS  ._. 
NBC_NNP  has_VBZ  on_IN  previous_JJ  occasions_NNS  considered_VBN  replacing_VBG  cartoons_NNS  with_IN  a_DT  Saturday_NNP  version_NN  of_IN  ``_``  Today_NN  ,_,  ''_''  which_WDT  is_VBZ  produced_VBN  by_IN  NBC_NNP  News_NNP  ._. 
The_DT  network_NN  's_POS  own_JJ  production_NN  company_NN  ,_,  NBC_NNP  Productions_NNPS  ,_,  supplies_VBZ  a_DT  half-hour_NN  family-oriented_JJ  show_NN  titled_VBN  ``_``  Saved_NNP  By_IN  The_DT  Bell_NNP  ._.  ''_'' 
NBC_NNP  Productions_NNPS  or_CC  NBC_NNP  News_NNP  could_MD  supply_VB  the_DT  network_NN  with_IN  other_JJ  Saturday_NNP  morning_NN  shows_VBZ  ,_,  a_DT  move_NN  that_WDT  would_MD  control_VB  costs_NNS  ._. 
Animated_JJ  shows_NNS  ,_,  which_WDT  are_VBP  made_VBN  by_IN  outside_IN  production_NN  companies_NNS  ,_,  cost_NN  the_DT  network_NN  about_RB  $_$  300,000_CD  per_IN  episode_NN  ._. 
Rohm_NNP  &_CC  Haas_NNP  Co._NNP  said_VBD  third-quarter_JJ  net_JJ  income_NN  skidded_VBD  35_CD  %_NN  to_TO  $_$  32.6_CD  million_CD  ,_,  or_CC  49_CD  cents_NNS  a_DT  share_NN  ._. 
In_IN  the_DT  year-earlier_JJ  quarter_NN  ,_,  the_DT  chemicals_NNS  company_NN  had_VBD  net_NN  of_IN  $_$  49.8_CD  million_CD  ,_,  or_CC  75_CD  cents_NNS  a_DT  share_NN  ._. 
Sales_NNS  were_VBD  $_$  623_CD  million_CD  ,_,  up_IN  0.5_CD  %_NN  from_IN  $_$  619.8_CD  million_CD  a_DT  year_NN  ago_RB  ._. 
Rohm_NNP  &_CC  Haas_NNP  ,_,  which_WDT  plans_VBZ  to_TO  start_VB  operating_VBG  seven_CD  new_JJ  production_NN  units_NNS  this_DT  year_NN  ,_,  attributed_VBD  the_DT  profit_NN  slide_NN  partly_RB  to_TO  higher_JJR  start-up_JJ  expense_NN  ._. 
The_DT  company_NN  also_RB  cited_VBD  the_DT  stronger_JJR  dollar_NN  ,_,  which_WDT  cuts_VBZ  the_DT  value_NN  of_IN  overseas_JJ  profit_NN  when_WRB  it_PRP  is_VBZ  translated_VBN  into_IN  dollars_NNS  ._. 
In_IN  addition_NN  ,_,  the_DT  company_NN  said_VBD  ,_,  it_PRP  was_VBD  hurt_VBN  by_IN  higher_JJR  than_IN  previous-year_JJ  costs_NNS  for_IN  raw_JJ  materials_NNS  ,_,  though_IN  those_DT  costs_NNS  have_VBP  declined_VBN  since_IN  the_DT  second_JJ  quarter_NN  ._. 
Incrementally_RB  higher_JJR  production_NN  of_IN  those_DT  chemicals_NNS  which_WDT  remain_VBP  in_IN  heavy_JJ  demand_NN  also_RB  has_VBZ  forced_VBN  up_IN  costs_NNS  ,_,  such_JJ  as_IN  overtime_NN  pay_NN  ._. 
For_IN  the_DT  nine_CD  months_NNS  ,_,  Rohm_NNP  &_CC  Haas_NNP  net_NN  totaled_VBD  $_$  155_CD  million_CD  ,_,  or_CC  $_$  2.33_CD  a_DT  share_NN  ,_,  down_RB  17_CD  %_NN  from_IN  $_$  187.8_CD  million_CD  ,_,  or_CC  $_$  2.82_CD  a_DT  share_NN  ,_,  a_DT  year_NN  ago_RB  ._. 
Sales_NNS  rose_VBD  5.2_CD  %_NN  to_TO  $_$  2.04_CD  billion_CD  from_IN  $_$  1.94_CD  billion_CD  the_DT  previous_JJ  year_NN  ._. 
In_IN  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  composite_JJ  trading_NN  ,_,  Rohm_NNP  &_CC  Haas_NNP  closed_VBD  at_IN  $_$  33_CD  a_DT  share_NN  ,_,  down_RB  $_$  1.75_CD  ._. 
Michael_NNP  A._NNP  Gaskin_NNP  ,_,  55_NN  years_NNS  old_JJ  ,_,  was_VBD  named_VBN  president_NN  and_CC  chief_JJ  executive_JJ  officer_NN  of_IN  this_DT  manufacturer_NN  of_IN  industrial_JJ  robots_NNS  ,_,  succeeding_VBG  Walter_NNP  K._NNP  Weisel_NNP  ._. 
Mr._NNP  Weisel_NNP  ,_,  49_CD  ,_,  resigned_VBD  as_IN  president_NN  and_CC  chief_JJ  executive_NN  and_CC  will_MD  work_VB  on_IN  special_JJ  projects_NNS  ,_,  said_VBD  John_NNP  J._NNP  Wallace_NNP  ,_,  chairman_NN  ._. 
Mr._NNP  Gaskin_NNP  formerly_RB  was_VBD  president_NN  and_CC  chief_JJ  executive_NN  of_IN  Taylor_NNP  &_CC  Gaskin_NNP  Inc._NNP  and_CC  was_VBD  a_DT  director_NN  of_IN  Prab_NNP  Robots_NNP  since_IN  1985_CD  ._. 
Stephen_NNP  N._NNP  Wertheimer_NNP  was_VBD  named_VBN  managing_VBG  director_NN  and_CC  group_NN  head_NN  of_IN  investment_NN  banking_NN  in_IN  Asia_NNP  ,_,  based_VBN  in_IN  Tokyo_NNP  ._. 
Mr._NNP  Wertheimer_NNP  ,_,  38_CD  years_NNS  old_JJ  ,_,  had_VBD  been_VBN  a_DT  first_JJ  vice_NN  president_NN  in_IN  the_DT  industrial_JJ  group_NN  in_IN  investment_NN  banking_NN  ._. 
He_PRP  succeeds_VBZ  Everett_NNP  Meyers_NNP  ,_,  who_WP  resigned_VBD  in_IN  May_NNP  ._. 
This_DT  is_VBZ  written_VBN  to_TO  correct_VB  a_DT  misquotation_NN  in_IN  your_PRP$  Oct._NNP  3_CD  article_NN  ``_``  Deaths_NNP  From_IN  Advanced_NNP  Colon_NNP  Cancer_NNP  Can_MD  Be_VB  Reduced_NNP  by_IN  Using_VBG  Two_CD  Drugs_NNS  ._.  ''_'' 
In_IN  this_DT  article_NN  ,_,  I_PRP  was_VBD  alleged_VBN  to_TO  have_VB  said_VBD  ,_,  ``_``  Any_DT  patient_NN  with_IN  high-risk_JJ  colon_NN  cancer_NN  is_VBZ  really_RB  getting_VBG  short_JJ  shrift_NN  if_IN  he_PRP  's_VBZ  not_RB  getting_VBG  this_DT  therapy_NN  ._.  ''_'' 
I_PRP  did_VBD  n't_RB  say_VB  this_DT  ,_,  and_CC  I_PRP  'm_VBP  totally_RB  opposed_VBN  to_TO  the_DT  philosophy_NN  expressed_VBN  by_IN  the_DT  quote_NN  ._. 
I_PRP  have_VBP  not_RB  offered_VBN  and_CC  will_MD  not_RB  offer_VB  routine_JJ  therapy_NN  with_IN  the_DT  two_CD  drugs_NNS  ,_,  levamisole_NN  and_CC  5-fluorouracil_JJ  ,_,  to_TO  any_DT  of_IN  my_PRP$  colon-cancer_NN  patients_NNS  ._. 
With_IN  this_DT  treatment_NN  we_PRP  have_VBP  reduced_VBN  deaths_NNS  in_IN  high-risk_JJ  colon_NN  cancer_NN  by_IN  one-third_NN  --_:  but_CC  this_DT  leaves_VBZ  the_DT  two-thirds_NNS  who_WP  are_VBP  dying_VBG  of_IN  cancer_NN  ._. 
This_DT  is_VBZ  not_RB  nearly_RB  good_JJ  enough_RB  ._. 
I_PRP  believe_VBP  any_DT  physician_NN  who_WP  truly_RB  cares_VBZ  about_IN  cancer_NN  patients_NNS  ,_,  both_DT  today_NN  and_CC  tomorrow_NN  ,_,  should_MD  offer_VB  the_DT  hope_NN  of_IN  something_NN  better_JJR  than_IN  that_DT  ._. 
My_PRP$  statement_NN  ,_,  read_VB  verbatim_RB  from_IN  a_DT  printed_VBN  text_NN  available_JJ  to_TO  all_DT  reporters_NNS  attending_VBG  the_DT  National_NNP  Cancer_NNP  Institute_NNP  news_NN  conference_NN  ,_,  was_VBD  the_DT  following_VBG  :_:  ``_``  New_NNP  clinical_JJ  trials_NNS  are_VBP  already_RB  in_IN  operation_NN  seeking_VBG  to_TO  improve_VB  these_DT  results_NNS  ._. 
These_DT  research_NN  protocols_NNS  offer_VBP  to_TO  the_DT  patient_NN  not_RB  only_RB  the_DT  very_RB  best_JJS  therapy_NN  which_WDT  we_PRP  have_VBP  established_VBN  today_NN  but_CC  also_RB  the_DT  hope_NN  of_IN  something_NN  still_RB  better_JJR  ._. 
I_PRP  feel_VBP  any_DT  patient_NN  with_IN  high-risk_JJ  cancer_NN  is_VBZ  getting_VBG  short_JJ  shrift_NN  if_IN  he_PRP  is_VBZ  not_RB  offered_VBN  this_DT  opportunity_NN  ._.  ''_'' 
We_PRP  have_VBP  very_RB  exciting_JJ  prospects_NNS  for_IN  far_RB  more_RBR  impressive_JJ  advances_NNS  in_IN  the_DT  treatment_NN  of_IN  colon_NN  cancer_NN  during_IN  the_DT  years_NNS  immediately_RB  ahead_RB  ._. 
This_DT  hope_NN  ,_,  however_RB  ,_,  will_MD  never_RB  be_VB  realized_VBN  if_IN  we_PRP  use_VBP  levamisole_NN  and_CC  5-fluorouracil_JJ  as_IN  a_DT  stopping_VBG  point_NN  ._. 
Charles_NNP  G._NNP  Moertel_NNP  M.D_NNP  ._.  Mayo_NNP  Clinic_NNP  Rochester_NNP  ,_,  Minn_NNP  ._. 
The_DT  oil_NN  and_CC  auto_NN  industries_NNS  ,_,  united_VBN  in_IN  their_PRP$  dislike_NN  of_IN  President_NNP  Bush_NNP  's_POS  proposal_NN  for_IN  cars_NNS  that_WDT  run_VBP  on_IN  alternative_NN  fuels_NNS  ,_,  announced_VBD  a_DT  joint_JJ  research_NN  program_NN  that_WDT  could_MD  turn_VB  up_IN  a_DT  cleaner-burning_JJ  gasoline_NN  ._. 
Officials_NNS  of_IN  the_DT  Big_NNP  Three_CD  auto_NN  makers_NNS  and_CC  14_CD  petroleum_NN  companies_NNS  said_VBD  they_PRP  are_VBP  setting_VBG  out_IN  to_TO  find_VB  the_DT  most_RBS  cost-effective_JJ  fuel_NN  for_IN  reducing_VBG  cities_NNS  '_POS  air-pollution_NN  problems_NNS  ,_,  with_IN  no_DT  bias_NN  toward_IN  any_DT  fuel_NN  in_IN  particular_NN  ._. 
However_RB  ,_,  their_PRP$  search_NN  notably_RB  wo_MD  n't_RB  include_VB  natural_JJ  gas_NN  or_CC  pure_JJ  methanol_NN  --_:  the_DT  two_CD  front-running_JJ  alternative_NN  fuels_NNS  --_:  in_IN  tests_NNS  to_TO  be_VB  completed_VBN  by_IN  next_JJ  summer_NN  ._. 
Instead_RB  ,_,  the_DT  tests_NNS  will_MD  focus_VB  heavily_RB  on_IN  new_JJ  blends_NNS  of_IN  gasoline_NN  ,_,  which_WDT  are_VBP  still_RB  undeveloped_JJ  but_CC  which_WDT  the_DT  petroleum_NN  industry_NN  has_VBZ  been_VBN  touting_VBG  as_IN  a_DT  solution_NN  for_IN  automobile_NN  pollution_NN  that_WDT  is_VBZ  choking_VBG  urban_JJ  areas_NNS  ._. 
Environmentalists_NNS  criticized_VBD  the_DT  program_NN  as_IN  merely_RB  a_DT  public-relations_NNS  attempt_VBP  to_TO  head_VB  off_IN  a_DT  White_NNP  House_NNP  proposal_NN  to_TO  require_VB  a_DT  million_CD  cars_NNS  a_DT  year_NN  that_WDT  run_VBP  on_IN  cleaner-burning_JJ  fuels_NNS  by_IN  1997_CD  ._. 
While_IN  major_JJ  oil_NN  companies_NNS  have_VBP  been_VBN  experimenting_VBG  with_IN  cleaner-burning_JJ  gasoline_NN  blends_NNS  for_IN  years_NNS  ,_,  only_RB  Atlantic_NNP  Richfield_NNP  Co._NNP  is_VBZ  now_RB  marketing_VBG  a_DT  lower-emission_NN  gasoline_NN  for_IN  older_JJR  cars_NNS  currently_RB  running_VBG  on_IN  leaded_JJ  fuel_NN  ._. 
The_DT  initial_JJ  $_$  11_CD  million_CD  research_NN  program_NN  will_MD  conduct_VB  the_DT  most_RBS  extensive_JJ  testing_NN  to_TO  date_VB  of_IN  reformulated_VBN  gasolines_NNS  ,_,  said_VBD  Joe_NNP  Colucci_NNP  ,_,  head_NN  of_IN  fuels_NNS  and_CC  lubricants_NNS  at_IN  General_NNP  Motors_NNPS  Corp._NNP  research_NN  laboratories_NNS  ._. 
It_PRP  will_MD  compare_VB  21_CD  different_JJ  blends_NNS  of_IN  gasolines_NNS  with_IN  three_CD  mixtures_NNS  of_IN  up_IN  to_TO  85_CD  %_NN  methanol_NN  ._. 
A_DT  second_JJ  phase_NN  of_IN  research_NN  ,_,  which_WDT  is_VBZ  still_RB  being_VBG  planned_VBN  ,_,  will_MD  test_VB  reformulated_VBN  gasolines_NNS  on_IN  newer_JJR  engine_NN  technologies_NNS  now_RB  being_VBG  developed_VBN  for_IN  use_NN  in_IN  1992_CD  or_CC  1993_CD  cars_NNS  ._. 
There_EX  was_VBD  no_DT  cost_NN  estimate_NN  for_IN  the_DT  second_JJ  phase_NN  ._. 
``_``  The_DT  whole_JJ  idea_NN  here_RB  is_VBZ  the_DT  automobile_NN  and_CC  oil_NN  companies_NNS  have_VBP  joint_JJ  customers_NNS  ,_,  ''_''  said_VBD  Keith_NNP  McHenry_NNP  ,_,  a_DT  senior_JJ  vice_NN  president_NN  of_IN  technology_NN  at_IN  Amoco_NNP  Corp_NNP  ._. 
``_``  And_CC  we_PRP  are_VBP  looking_VBG  for_IN  the_DT  most_RBS  cost-effective_JJ  way_NN  to_TO  clean_VB  up_IN  the_DT  air_NN  ._.  ''_'' 
But_CC  David_NNP  Hawkins_NNP  ,_,  an_DT  environmental_JJ  lawyer_NN  with_IN  the_DT  Natural_NNP  Resources_NNP  Defense_NNP  Council_NNP  ,_,  said_VBD  the_DT  research_NN  appears_VBZ  merely_RB  to_TO  be_VB  a_DT  way_NN  to_TO  promote_VB  reformulated_VBN  gasoline_NN  ._. 
Oil_NNP  and_CC  auto_NN  companies_NNS  supported_VBD  a_DT  move_NN  on_IN  Capitol_NNP  Hill_NNP  last_JJ  week_NN  to_TO  gut_VB  Mr._NNP  Bush_NNP  's_POS  plans_NNS  to_TO  require_VB  auto_NN  makers_NNS  to_TO  begin_VB  selling_VBG  alternative-fueled_JJ  cars_NNS  by_IN  1995_CD  ._. 
Instead_RB  ,_,  a_DT  House_NNP  subcommittee_NN  adopted_VBD  a_DT  clean-fuels_NNS  program_VBP  that_WDT  specifically_RB  mentions_VBZ  reformulated_VBN  gasoline_NN  as_IN  an_DT  alternative_NN  ._. 
The_DT  Bush_NNP  administration_NN  has_VBZ  said_VBD  it_PRP  will_MD  try_VB  to_TO  resurrect_VB  its_PRP$  plan_NN  when_WRB  the_DT  House_NNP  Energy_NNP  and_CC  Commerce_NNP  Committee_NNP  takes_VBZ  up_IN  a_DT  comprehensive_JJ  clean-air_JJ  bill_NN  ._. 
William_NNP  Seidman_NNP  ,_,  chairman_NN  of_IN  the_DT  Federal_NNP  Deposit_NNP  Insurance_NNP  Corp._NNP  ,_,  said_VBD  Lincoln_NNP  Savings_NNP  &_CC  Loan_NNP  Association_NNP  should_MD  have_VB  been_VBN  seized_VBN  by_IN  the_DT  government_NN  in_IN  1986_CD  to_TO  contain_VB  losses_NNS  that_IN  he_PRP  estimated_VBD  will_MD  cost_VB  taxpayers_NNS  as_RB  much_JJ  as_IN  $_$  2_CD  billion_CD  ._. 
Mr._NNP  Seidman_NNP  ,_,  who_WP  has_VBZ  been_VBN  the_DT  nation_NN  's_POS  top_JJ  bank_NN  regulator_NN  ,_,  inherited_VBD  the_DT  problems_NNS  of_IN  Lincoln_NNP  ,_,  based_VBN  in_IN  Irvine_NNP  ,_,  Calif._NNP  ,_,  after_IN  his_PRP$  regulatory_JJ  role_NN  was_VBD  expanded_VBN  by_IN  the_DT  new_JJ  savings-and-loan_JJ  bailout_NN  law_NN  ._. 
He_PRP  made_VBD  his_PRP$  comments_NNS  before_IN  House_NNP  Banking_NNP  Committee_NNP  hearings_NNS  to_TO  investigate_VB  what_WP  appears_VBZ  to_TO  be_VB  the_DT  biggest_JJS  thrift_NN  disaster_NN  in_IN  a_DT  scandal-ridden_JJ  industry_NN  ._. 
The_DT  inquiry_NN  also_RB  will_MD  cover_VB  the_DT  actions_NNS  of_IN  Charles_NNP  Keating_NNP  Jr._NNP  ,_,  who_WP  is_VBZ  chairman_NN  of_IN  American_NNP  Continental_NNP  Corp._NNP  ,_,  Lincoln_NNP  's_POS  parent_NN  ,_,  and_CC  who_WP  contributed_VBD  heavily_RB  to_TO  several_JJ  U.S._NNP  senators_NNS  ._. 
Mr._NNP  Seidman_NNP  told_VBD  the_DT  committee_NN  that_IN  the_DT  Resolution_NNP  Trust_NNP  Corp._NNP  ,_,  the_DT  agency_NN  created_VBN  to_TO  sell_VB  sick_JJ  thrifts_NNS  ,_,  has_VBZ  studied_VBN  Lincoln_NNP  's_POS  examination_NN  reports_NNS  by_IN  former_JJ  regulators_NNS  dating_VBG  back_RB  to_TO  1986_CD  ._. 
``_``  My_PRP$  staff_NN  indicated_VBD  that_WDT  had_VBD  we_PRP  made_VBD  such_JJ  findings_NNS  in_IN  one_CD  of_IN  our_PRP$  own_JJ  institutions_NNS  ,_,  we_PRP  would_MD  have_VB  sought_VBN  an_DT  immediate_JJ  cease-and-desist_JJ  order_NN  to_TO  stop_VB  the_DT  hazardous_JJ  operations_NNS  ,_,  ''_''  Mr._NNP  Seidman_NNP  said_VBD  ._. 
When_WRB  Lincoln_NNP  was_VBD  seized_VBN  by_IN  the_DT  government_NN  ,_,  for_IN  example_NN  ,_,  15_CD  %_NN  of_IN  its_PRP$  loans_NNS  ,_,  or_CC  $_$  250_CD  million_CD  ,_,  were_VBD  to_TO  borrowers_NNS  who_WP  were_VBD  buying_VBG  real_JJ  estate_NN  from_IN  one_CD  of_IN  American_NNP  Continental_NNP  's_POS  50_CD  other_JJ  subsidiaries_NNS  ,_,  according_VBG  to_TO  Mr._NNP  Seidman_NNP  ._. 
But_CC  the_DT  government_NN  did_VBD  n't_RB  step_VB  in_IN  until_IN  six_CD  months_NNS  ago_RB  ,_,  when_WRB  thrift_NN  officials_NNS  put_VBP  Lincoln_NNP  into_IN  conservatorship_NN  --_:  the_DT  day_NN  after_IN  American_NNP  Continental_NNP  filed_VBD  for_IN  Chapter_NN  11_CD  bankruptcy_NN  protection_NN  from_IN  creditors_NNS  ._. 
The_DT  bankruptcy_NN  filing_NN  ,_,  the_DT  government_NN  has_VBZ  charged_VBN  in_IN  a_DT  $_$  1.1_CD  billion_CD  civil_JJ  lawsuit_NN  ,_,  was_VBD  part_NN  of_IN  a_DT  pattern_NN  to_TO  shift_VB  insured_VBN  deposits_NNS  to_TO  the_DT  parent_NN  company_NN  ,_,  which_WDT  used_VBD  the_DT  deposits_NNS  as_IN  a_DT  cache_NN  for_IN  real-estate_NN  deals_NNS  ._. 
The_DT  deposits_NNS  that_WDT  have_VBP  been_VBN  transferred_VBN  to_TO  other_JJ  subsidiaries_NNS  are_VBP  now_RB  under_IN  the_DT  jurisdiction_NN  of_IN  the_DT  bankruptcy_NN  court_NN  ._. 
``_``  I_PRP  think_VBP  it_PRP  's_VBZ  fairly_RB  clear_JJ  -LCB-_(  Mr._NNP  Keating_NNP  -RCB-_)  knew_VBD  ,_,  ''_''  that_IN  regulators_NNS  were_VBD  set_VBN  to_TO  seize_VB  Lincoln_NNP  ,_,  Mr._NNP  Seidman_NNP  said_VBD  ._. 
Further_JJ  investigation_NN  ,_,  he_PRP  said_VBD  ,_,  may_MD  result_VB  in_IN  further_JJ  actions_NNS  against_IN  Lincoln_NNP  's_POS  executives_NNS  ,_,  said_VBD  Mr._NNP  Seidman_NNP  ,_,  ``_``  including_VBG  fraud_NN  actions_NNS  ._.  ''_'' 
Mr._NNP  Keating_NNP  ,_,  for_IN  his_PRP$  part_NN  ,_,  has_VBZ  filed_VBN  suit_NN  alleging_VBG  that_IN  regulators_NNS  unlawfully_RB  seized_VBN  the_DT  thrift_NN  ._. 
Leonard_NNP  Bickwit_NNP  ,_,  an_DT  attorney_NN  in_IN  Washington_NNP  for_IN  Mr._NNP  Keating_NNP  ,_,  declined_VBD  to_TO  comment_VB  on_IN  the_DT  hearings_NNS  ,_,  except_VB  to_TO  say_VB  ,_,  ``_``  We_PRP  will_MD  be_VB  responding_VBG  comprehensively_RB  in_IN  several_JJ  forums_NNS  to_TO  each_DT  of_IN  these_DT  allegations_NNS  at_IN  the_DT  appropriate_JJ  time_NN  ._.  ''_'' 
Lincoln_NNP  's_POS  treatment_NN  by_IN  former_JJ  thrift_NN  regulators_NNS  ,_,  in_IN  an_DT  agency_NN  disbanded_VBN  by_IN  the_DT  new_JJ  law_NN  ,_,  has_VBZ  proved_VBN  embarrassing_JJ  for_IN  five_CD  senators_NNS  who_WP  received_VBD  thousands_NNS  of_IN  dollars_NNS  in_IN  campaign_NN  contributions_NNS  from_IN  Mr._NNP  Keating_NNP  ._. 
Mr._NNP  Seidman_NNP  said_VBD  yesterday_NN  ,_,  for_IN  example_NN  ,_,  that_IN  Sen._NNP  Dennis_NNP  DeConcini_NNP  -LRB-_(  D._NNP  ,_,  Ariz._NNP  -RRB-_)  ,_,  who_WP  received_VBD  $_$  48,100_CD  in_IN  contributions_NNS  from_IN  Mr._NNP  Keating_NNP  ,_,  phoned_VBD  Mr._NNP  Seidman_NNP  to_TO  request_VB  that_IN  he_PRP  push_VBP  for_IN  a_DT  sale_NN  of_IN  Lincoln_NNP  before_IN  it_PRP  would_MD  be_VB  seized_VBN  ._. 
After_IN  the_DT  government_NN  lawsuit_NN  was_VBD  filed_VBN  against_IN  Lincoln_NNP  ,_,  Sen._NNP  DeConcini_NNP  returned_VBD  the_DT  campaign_NN  contributions_NNS  ._. 
The_DT  senator_NN  's_POS  spokesman_NN  said_VBD  yesterday_NN  that_IN  he_PRP  pushed_VBD  for_IN  the_DT  sale_NN  of_IN  Lincoln_NNP  because_IN  ``_``  hundreds_NNS  of_IN  Arizona_NNP  jobs_NNS  -LCB-_(  at_IN  Lincoln_NNP  -RCB-_)  were_VBD  on_IN  the_DT  line_NN  ._.  ''_'' 
Senate_NNP  Banking_NNP  Committee_NNP  Chairman_NNP  Donald_NNP  Riegle_NNP  -LRB-_(  D._NNP  ,_,  Mich_NNP  ._.  -RRB-_)  has_VBZ  also_RB  returned_VBN  contributions_NNS  he_PRP  received_VBD  from_IN  Mr._NNP  Keating_NNP  a_DT  year_NN  ago_RB  ._. 
Sens._NNP  John_NNP  Glenn_NNP  -LRB-_(  D._NNP  ,_,  Ohio_NNP  -RRB-_)  ,_,  John_NNP  McCain_NNP  ,_,  -LRB-_(  R._NNP  ,_,  Ariz._NNP  -RRB-_)  and_CC  Alan_NNP  Cranston_NNP  -LRB-_(  D._NNP  ,_,  Calif._NNP  -RRB-_)  also_RB  received_VBD  substantial_JJ  contributions_NNS  from_IN  Mr._NNP  Keating_NNP  and_CC  sought_VBD  to_TO  intervene_VB  on_IN  behalf_NN  of_IN  Lincoln_NNP  ._. 
House_NNP  Banking_NNP  Committee_NNP  Chairman_NNP  Henry_NNP  Gonzalez_NNP  -LRB-_(  D._NNP  ,_,  Texas_NNP  -RRB-_)  said_VBD  Sen._NNP  Cranston_NNP  volunteered_VBD  to_TO  appear_VB  before_IN  the_DT  House_NNP  committee_NN  ,_,  if_IN  necessary_JJ  ._. 
But_CC  a_DT  committee_NN  staff_NN  member_NN  said_VBD  the_DT  panel_NN  is_VBZ  unlikely_JJ  to_TO  pursue_VB  closely_RB  the_DT  role_NN  of_IN  the_DT  senators_NNS  ._. 
At_IN  the_DT  hearing_NN  ,_,  Mr._NNP  Seidman_NNP  said_VBD  the_DT  RTC_NNP  has_VBZ  already_RB  pumped_VBN  $_$  729_CD  million_CD  into_IN  Lincoln_NNP  for_IN  liquidity_NN  ._. 
He_PRP  also_RB  held_VBD  out_IN  little_JJ  hope_NN  of_IN  restitution_NN  for_IN  purchasers_NNS  of_IN  $_$  225_CD  million_CD  in_IN  American_NNP  Continental_NNP  subordinated_VBD  debt_NN  ._. 
Some_DT  of_IN  those_DT  debtholders_NNS  have_VBP  filed_VBN  a_DT  suit_NN  ,_,  saying_VBG  they_PRP  believed_VBD  they_PRP  were_VBD  buying_VBG  government-insured_JJ  certificates_NNS  of_IN  deposit_NN  ._. 
``_``  We_PRP  have_VBP  no_DT  plans_NNS  at_IN  this_DT  time_NN  to_TO  pay_VB  off_IN  those_DT  notes_NNS  ,_,  ''_''  he_PRP  said_VBD  ._. 
Eastern_NNP  Airlines_NNPS  '_POS  creditors_NNS  committee_NN  ,_,  unhappy_JJ  with_IN  the_DT  carrier_NN  's_POS  plans_NNS  for_IN  emerging_VBG  from_IN  bankruptcy-law_NN  proceedings_NNS  ,_,  asked_VBD  its_PRP$  own_JJ  experts_NNS  to_TO  devise_VB  alternate_JJ  approaches_NNS  to_TO  a_DT  reorganization_NN  ._. 
Representatives_NNS  of_IN  the_DT  accounting_NN  firm_NN  of_IN  Ernst_NNP  &_CC  Young_NNP  and_CC  the_DT  securities_NNS  firm_NN  of_IN  Goldman_NNP  ,_,  Sachs_NNP  &_CC  Co._NNP  ,_,  hired_VBN  by_IN  creditors_NNS  to_TO  consult_VB  on_IN  Eastern_NNP  's_POS  financial_JJ  plans_NNS  ,_,  told_VBD  the_DT  committee_NN  in_IN  a_DT  private_JJ  meeting_NN  yesterday_NN  that_IN  Eastern_NNP  's_POS  latest_JJS  plan_NN  to_TO  emerge_VB  from_IN  bankruptcy-law_NN  protection_NN  is_VBZ  far_RB  riskier_JJR  than_IN  an_DT  earlier_RBR  one_CD  which_WDT  won_VBD  the_DT  creditors_NNS  '_POS  approval_NN  ._. 
According_VBG  to_TO  one_CD  person_NN  present_JJ  at_IN  the_DT  meeting_NN  ,_,  Eastern_NNP  's_POS  new_JJ  plan_NN  is_VBZ  financially_RB  ``_``  overly_RB  optimistic_JJ  ._.  ''_'' 
Asked_VBN  about_IN  the_DT  consultants_NNS  '_POS  reports_NNS  ,_,  an_DT  Eastern_NNP  spokeswoman_NN  said_VBD  ``_``  we_PRP  totally_RB  disagree_VBP  ._.  ''_'' 
She_PRP  said_VBD  they_PRP  have_VBP  ``_``  oversimplified_VBN  and_CC  made_VBD  some_DT  erroneous_JJ  assumptions_NNS  that_WDT  make_VBP  their_PRP$  analysis_NN  completely_RB  off-base_JJ  ._.  ''_'' 
At_IN  a_DT  later_JJ  news_NN  conference_NN  here_RB  ,_,  Frank_NNP  Lorenzo_NNP  ,_,  chairman_NN  of_IN  Eastern_NNP  's_POS  parent_NN  Texas_NNP  Air_NNP  Corp._NNP  ,_,  said_VBD  Eastern_NNP  was_VBD  exceeding_VBG  its_PRP$  goals_NNS  for_IN  getting_VBG  back_RB  into_IN  operation_NN  and_CC  predicted_VBD  it_PRP  would_MD  emerge_VB  from_IN  Chapter_NN  11_CD  protection_NN  from_IN  creditors_NNS  early_JJ  next_JJ  year_NN  ,_,  operating_VBG  with_IN  more_JJR  service_NN  than_IN  it_PRP  originally_RB  had_VBD  scheduled_VBN  ._. 
He_PRP  insisted_VBD  ,_,  as_IN  he_PRP  has_VBZ  before_RB  ,_,  that_IN  creditors_NNS  would_MD  be_VB  paid_VBN  in_IN  full_JJ  under_IN  the_DT  plan_NN  ._. 
Mr._NNP  Lorenzo_NNP  made_VBD  no_DT  mention_NN  of_IN  creditors_NNS  '_POS  negative_JJ  response_NN  to_TO  his_PRP$  plan_NN  ._. 
``_``  We_PRP  're_VBP  in_IN  the_DT  process_NN  of_IN  discussing_VBG  an_DT  amended_VBN  plan_NN  with_IN  the_DT  creditors_NNS  and_CC  anticipate_VB  filing_NN  that_WDT  amended_VBD  plan_NN  shortly_RB  ,_,  ''_''  Mr._NNP  Lorenzo_NNP  told_VBD  reporters_NNS  ._. 
``_``  We_PRP  're_VBP  meeting_VBG  and_CC  surpassing_VBG  our_PRP$  goals_NNS  ,_,  ''_''  he_PRP  added_VBD  ._. 
In_IN  July_NNP  ,_,  Eastern_NNP  and_CC  its_PRP$  creditors_NNS  agreed_VBD  on_IN  a_DT  reorganization_NN  plan_NN  that_WDT  called_VBD  for_IN  Eastern_NNP  to_TO  sell_VB  $_$  1.8_CD  billion_CD  in_IN  assets_NNS  and_CC  to_TO  emerge_VB  from_IN  bankruptcy-law_NN  protection_NN  at_IN  two-thirds_NNS  its_PRP$  former_JJ  size_NN  ._. 
But_CC  after_IN  selling_VBG  off_IN  pieces_NNS  such_JJ  as_IN  its_PRP$  East_NNP  Coast_NNP  shuttle_NN  ,_,  its_PRP$  Philadelphia_NNP  hub_NN  and_CC  various_JJ  planes_NNS  ,_,  Eastern_NNP  hit_VBD  a_DT  stumbling_VBG  block_NN  ._. 
It_PRP  could_MD  n't_RB  sell_VB  its_PRP$  South_JJ  American_JJ  routes_NNS  ,_,  one_CD  of_IN  the_DT  major_JJ  assets_NNS  marked_VBN  for_IN  disposal_NN  ._. 
Those_DT  routes_NNS  ,_,  valued_VBN  by_IN  the_DT  creditors_NNS  '_POS  professionals_NNS  at_IN  about_RB  $_$  400_CD  million_CD  ,_,  were_VBD  to_TO  be_VB  sold_VBN  to_TO  AMR_NNP  Corp._NNP  's_POS  American_NNP  Airlines_NNPS  ._. 
A_DT  last-minute_JJ  snag_NN  in_IN  negotiations_NNS  with_IN  AMR_NNP  ,_,  over_IN  an_DT  unrelated_JJ  lawsuit_NN  between_IN  American_NNP  and_CC  another_DT  Texas_NNP  Air_NNP  unit_NN  ,_,  caused_VBD  the_DT  deal_NN  to_TO  collapse_VB  ._. 
Eastern_NNP  ultimately_RB  decided_VBD  it_PRP  would_MD  have_VB  to_TO  keep_VB  and_CC  operate_VB  the_DT  routes_NNS  itself_PRP  ,_,  which_WDT  would_MD  leave_VB  it_PRP  with_IN  less_JJR  cash_NN  for_IN  its_PRP$  reorganization_NN  ._. 
It_PRP  also_RB  would_MD  leave_VB  Eastern_NNP  a_DT  bigger_JJR  carrier_NN  than_IN  the_DT  scaled-down_JJ  one_CD  proposed_VBN  under_IN  the_DT  initial_JJ  plan_NN  ._. 
Those_DT  changes_NNS  in_IN  its_PRP$  condition_NN  meant_VBD  the_DT  reorganization_NN  plan_NN  previously_RB  presented_VBD  to_TO  creditors_NNS  would_MD  have_VB  to_TO  be_VB  revamped_VBN  ._. 
Since_IN  then_RB  ,_,  Eastern_NNP  has_VBZ  been_VBN  negotiating_VBG  with_IN  creditors_NNS  over_IN  revisions_NNS  ,_,  but_CC  the_DT  creditors_NNS  committee_NN  has_VBZ  been_VBN  having_VBG  problems_NNS  with_IN  the_DT  revisions_NNS  ._. 
The_DT  committee_NN  has_VBZ  two_CD  groups_NNS  of_IN  experts_NNS  it_PRP  calls_VBZ  on_IN  to_TO  analyze_VB  Eastern_NNP  's_POS  plans_NNS  ._. 
Both_DT  said_VBD  the_DT  new_JJ  plan_NN  would_MD  n't_RB  work_VB  ._. 
Ernst_NNP  &_CC  Young_NNP  said_VBD  Eastern_NNP  's_POS  plans_NNS  will_MD  miss_VB  its_PRP$  projections_NNS  of_IN  earnings_NNS  before_IN  interest_NN  ,_,  tax_NN  and_CC  depreciation_NN  by_IN  $_$  100_CD  million_CD  ,_,  and_CC  that_IN  Eastern_NNP  's_POS  plan_NN  presented_VBD  no_DT  comfort_NN  level_NN  ,_,  according_VBG  to_TO  a_DT  source_NN  present_JJ  at_IN  yesterday_NN  's_POS  session_NN  ._. 
Experts_NNS  from_IN  Goldman_NNP  Sachs_NNP  estimated_VBD  Eastern_NNP  would_MD  miss_VB  the_DT  same_JJ  mark_NN  by_IN  $_$  120_CD  million_CD  to_TO  $_$  135_CD  million_CD  ,_,  the_DT  source_NN  said_VBD  ._. 
The_DT  experts_NNS  said_VBD  they_PRP  expected_VBD  Eastern_NNP  would_MD  have_VB  to_TO  issue_VB  new_JJ  debt_NN  to_TO  cover_VB  its_PRP$  costs_NNS  ,_,  and_CC  that_IN  it_PRP  would_MD  generate_VB  far_RB  less_JJR  cash_NN  than_IN  anticipated_VBN  ._. 
Other_JJ  costs_NNS  also_RB  would_MD  increase_VB  ,_,  including_VBG  maintenance_NN  ,_,  because_IN  Eastern_NNP  has_VBZ  an_DT  older_JJR  fleet_NN  ._. 
At_IN  the_DT  news_NN  conference_NN  ,_,  Mr._NNP  Lorenzo_NNP  and_CC  Eastern_NNP  President_NNP  Phil_NNP  Bakes_NNP  presented_VBD  a_DT  far_RB  rosier_JJR  assessment_NN  ._. 
Flanked_VBN  by_IN  flight_NN  attendants_NNS  ,_,  pilots_NNS  and_CC  gate_NN  agents_NNS  dressed_VBN  in_IN  spiffy_JJ  new_JJ  blue_JJ  uniforms_NNS  ,_,  they_PRP  said_VBD  Eastern_NNP  has_VBZ  exceeded_VBN  its_PRP$  operational_JJ  goals_NNS  and_CC  is_VBZ  filling_VBG  its_PRP$  seats_NNS  ._. 
Starting_VBG  next_JJ  month_NN  ,_,  Eastern_NNP  will_MD  begin_VB  flying_VBG  775_CD  flights_NNS  daily_JJ  instead_RB  of_IN  the_DT  previously_RB  announced_VBN  700_CD  ,_,  they_PRP  said_VBD  ._. 
Mr._NNP  Bakes_NNP  declined_VBD  to_TO  give_VB  out_IN  Eastern_NNP  's_POS  daily_JJ  losses_NNS  ,_,  but_CC  said_VBD  he_PRP  did_VBD  n't_RB  expect_VB  Eastern_NNP  would_MD  have_VB  to_TO  dip_VB  into_IN  the_DT  cash_NN  from_IN  asset_NN  sales_NNS  currently_RB  held_VBN  in_IN  escrow_NN  ._. 
These_DT  accounts_NNS  hold_VBP  several_JJ  hundred_CD  million_CD  dollars_NNS  ,_,  primarily_RB  from_IN  asset_NN  sales_NNS  ._. 
The_DT  plan_NN  Eastern_NNP  hopes_VBZ  to_TO  pursue_VB  ,_,  he_PRP  said_VBD  ,_,  calls_VBZ  for_IN  Eastern_NNP  to_TO  have_VB  $_$  390_CD  million_CD  in_IN  cash_NN  by_IN  year_NN  's_POS  end_NN  ._. 
Both_DT  he_PRP  and_CC  Mr._NNP  Lorenzo_NNP  predicted_VBD  that_DT  plan_NN  might_MD  be_VB  confirmed_VBN  in_IN  January_NNP  ._. 
As_IN  to_TO  negotiations_NNS  with_IN  creditors_NNS  ,_,  Mr._NNP  Lorenzo_NNP  said_VBD  in_IN  remarks_NNS  after_IN  the_DT  conference_NN  ``_``  we_PRP  'll_MD  have_VB  to_TO  see_VB  how_WRB  they_PRP  -LCB-_(  talks_NNS  -RCB-_)  come_VB  along_IN  ._.  ''_'' 
However_RB  ,_,  he_PRP  added_VBD  ,_,  ``_``  it_PRP  's_VBZ  not_RB  a_DT  requirement_NN  that_IN  the_DT  plan_NN  be_VB  accepted_VBN  by_IN  creditors_NNS  ._. 
It_PRP  must_MD  be_VB  accepted_VBN  by_IN  the_DT  court_NN  ._.  ''_'' 
Under_IN  bankruptcy_NN  law_NN  ,_,  Eastern_NNP  has_VBZ  exclusive_JJ  rights_NNS  for_IN  a_DT  certain_JJ  period_NN  to_TO  develop_VB  its_PRP$  own_JJ  reorganization_NN  plan_NN  ._. 
That_DT  deadline_NN  has_VBZ  been_VBN  extended_VBN  once_RB  and_CC  could_MD  be_VB  extended_VBN  again_RB  ._. 
If_IN  Eastern_NNP  can_MD  get_VB  creditor_NN  support_NN  ,_,  court_NN  confirmation_NN  of_IN  its_PRP$  plan_NN  could_MD  be_VB  relatively_RB  swift_JJ  ._. 
But_CC  creditors_NNS  are_VBP  free_JJ  to_TO  press_VB  for_IN  court_NN  approval_NN  of_IN  their_PRP$  own_JJ  plan_NN  ,_,  or_CC  the_DT  court_NN  could_MD  ignore_VB  both_DT  sides_NNS  and_CC  draw_VB  its_PRP$  own_JJ  ._. 
In_IN  any_DT  event_NN  ,_,  some_DT  people_NNS  familiar_JJ  with_IN  the_DT  case_NN  question_NN  whether_IN  the_DT  court_NN  will_MD  act_VB  by_IN  January_NNP  as_IN  forecast_NN  by_IN  Mr._NNP  Lorenzo_NNP  and_CC  Mr._NNP  Bakes_NNP  ._. 
Eastern_NNP  sought_VBD  bankruptcy-law_NN  protection_NN  a_DT  few_JJ  days_NNS  after_IN  a_DT  crippling_JJ  strike_NN  began_VBD  March_NNP  4_CD  ._. 
Mr._NNP  Lorenzo_NNP  told_VBD  reporters_NNS  the_DT  reorganization_NN  Eastern_NNP  is_VBZ  pursuing_VBG  would_MD  create_VB  a_DT  carrier_NN  85_CD  %_NN  to_TO  90_CD  %_NN  of_IN  the_DT  size_NN  of_IN  the_DT  pre-bankruptcy_NN  Eastern_NNP  ._. 
He_PRP  projected_VBD  it_PRP  would_MD  be_VB  operating_VBG  about_IN  1,000_CD  flights_NNS  a_DT  day_NN  by_IN  late_JJ  spring_NN  ,_,  only_RB  slightly_RB  fewer_JJR  than_IN  the_DT  carrier_NN  's_POS  old_JJ  volume_NN  of_IN  1,050_CD  a_DT  day_NN  ._. 
HOPES_NNS  OF_IN  SIMPLIFYING_VBG  the_DT  corporate_JJ  minimum_JJ  tax_NN  before_IN  1990_CD  are_VBP  weakening_VBG  ._. 
The_DT  method_NN  of_IN  calculating_VBG  the_DT  20_CD  %_NN  tax_NN  ,_,  paid_VBN  if_IN  it_PRP  exceeds_VBZ  tax_NN  figured_VBD  the_DT  regular_JJ  way_NN  ,_,  is_VBZ  due_JJ  for_IN  a_DT  change_NN  in_IN  1990_CD  ,_,  thanks_VBZ  to_TO  1986_CD  's_POS  tax_NN  act_NN  ._. 
But_CC  most_RBS  experts_NNS  agree_VBP  that_IN  the_DT  concept_NN  that_WDT  is_VBZ  to_TO  be_VB  introduced_VBN  drags_VBZ  in_IN  great_JJ  complexity_NN  ;_:  they_PRP  have_VBP  been_VBN  trying_VBG  to_TO  head_VB  it_PRP  off_IN  this_DT  year_NN  ._. 
Ways_NNS  and_CC  Means_NNP  Chairman_NNP  Rostenkowski_NNP  backed_VBD  a_DT  simplification_NN  plan_NN  in_IN  the_DT  pending_VBG  House_NNP  tax_NN  bill_NN  ,_,  but_CC  the_DT  plan_NN  turns_VBZ  out_IN  to_TO  be_VB  a_DT  big_JJ  revenue_NN  loser_NN  ._. 
Now_RB  the_DT  Senate_NNP  's_POS  stripped-down_JJ  bill_NN  omits_VBZ  any_DT  proposal_NN  to_TO  deal_VB  with_IN  the_DT  corporate_JJ  tax_NN  ._. 
Proponents_NNS  of_IN  simplification_NN  fear_NN  that_IN  the_DT  chances_NNS  of_IN  getting_VBG  it_PRP  into_IN  the_DT  final_JJ  bill_NN  are_VBP  waning_VBG  ._. 
``_``  We_PRP  hear_VBP  it_PRP  has_VBZ  low_JJ  priority_NN  on_IN  the_DT  House_NNP  side_NN  ,_,  ''_''  says_VBZ  Samuel_NNP  Starr_NNP  of_IN  Coopers_NNP  &_CC  Lybrand_NNP  ,_,  CPAs_NNS  ._. 
If_IN  the_DT  law_NN  is_VBZ  n't_RB  changed_VBN  ,_,  he_PRP  says_VBZ  ,_,  ``_``  we_PRP  are_VBP  left_VBN  staring_VBG  at_IN  rules_NNS  that_WDT  are_VBP  almost_RB  impossible_JJ  to_TO  implement_VB  ,_,  because_IN  there_EX  are_VBP  so_RB  many_JJ  complex_JJ  depreciation_NN  calculations_NNS  to_TO  do_VB  ._.  ''_'' 
But_CC  Congress_NNP  still_RB  could_MD  resolve_VB  the_DT  issue_NN  with_IN  other_JJ  legislation_NN  this_DT  year_NN  or_CC  next_JJ  ,_,  Starr_NNP  adds_VBZ  ._. 
HUGO_NNP  'S_VBZ  RAVAGES_NNS  may_MD  be_VB  offset_VB  by_IN  immediate_JJ  claims_NNS  for_IN  tax_NN  refunds_NNS  ._. 
This_DT  law_NN  aids_VBZ  hurricane-wracked_JJ  locales_NNS  named_VBN  by_IN  the_DT  president_NN  as_IN  disaster_NN  areas_NNS  ,_,  as_RB  well_RB  as_IN  regions_NNS  so_RB  designated_VBN  after_IN  other_JJ  1989_CD  disasters_NNS  ._. 
It_PRP  lets_VBZ  victims_NNS  elect_VBP  to_TO  deduct_VB  casualty_NN  losses_NNS  on_IN  either_DT  1989_CD  or_CC  amended_VBN  1988_CD  returns_NNS  ,_,  whichever_WDT  offers_VBZ  the_DT  larger_JJR  tax_NN  benefit_NN  ;_:  they_PRP  have_VBP  until_IN  April_NNP  16_CD  to_TO  choose_VB  ._. 
Amending_VBG  a_DT  1988_CD  return_NN  to_TO  claim_VB  a_DT  refund_NN  brings_VBZ  cash_NN  faster_RBR  ;_:  but_CC  for_IN  personal_JJ  losses_NNS  ,_,  there_EX  are_VBP  other_JJ  factors_NNS  to_TO  consider_VB  ,_,  notes_NNS  publisher_NN  Prentice_NNP  Hall_NNP  ._. 
A_DT  loss_NN  --_:  after_IN  insurance_NN  recoveries_NNS  --_:  is_VBZ  deductible_JJ  only_RB  to_TO  the_DT  extent_NN  that_IN  it_PRP  exceeds_VBZ  $_$  100_CD  and_CC  that_IN  the_DT  year_NN  's_POS  total_JJ  losses_NNS  exceed_VBP  10_CD  %_NN  of_IN  adjusted_VBN  gross_JJ  income_NN  ;_:  victims_NNS  may_MD  pick_VB  the_DT  year_NN  when_WRB  income_NN  is_VBZ  lower_JJR  and_CC  deductions_NNS  higher_JJR  ._. 
In_IN  filing_VBG  an_DT  original_JJ  -LRB-_(  not_RB  amended_VBN  -RRB-_)  return_NN  ,_,  a_DT  couple_NN  should_MD  consider_VB  whether_IN  damaged_VBN  property_NN  is_VBZ  owned_VBN  jointly_RB  or_CC  separately_RB  and_CC  whether_IN  one_CD  spouse_NN  has_VBZ  larger_JJR  income_NN  ;_:  that_WDT  may_MD  determine_VB  whether_IN  they_PRP  should_MD  file_VB  jointly_RB  or_CC  separately_RB  ._. 
THE_DT  IRS_NNP  DELAYS_VBZ  several_JJ  deadlines_NNS  for_IN  Hugo_NNP  's_POS  victims_NNS  ._. 
Returns_NNS  for_IN  1988_CD  from_IN  people_NNS  with_IN  six-month_JJ  filing_NN  extensions_NNS  were_VBD  due_JJ  Monday_NNP  ,_,  but_CC  the_DT  IRS_NNP  says_VBZ  people_NNS  in_IN  the_DT  disaster_NN  areas_NNS  wo_MD  n't_RB  be_VB  penalized_VBN  for_IN  late_JJ  filing_NN  if_IN  their_PRP$  returns_NNS  are_VBP  marked_VBN  ``_``  Hugo_NNP  ''_''  and_CC  postmarked_VBN  by_IN  Jan._NNP  16_CD  ._. 
Interest_NN  will_MD  be_VB  imposed_VBN  on_IN  unpaid_JJ  taxes_NNS  ,_,  but_CC  late-payment_NN  penalties_NNS  on_IN  the_DT  returns_NNS  will_MD  be_VB  waived_VBN  if_IN  the_DT  balance_NN  due_JJ  and_CC  paid_VBN  is_VBZ  10_CD  %_NN  or_CC  less_JJR  of_IN  the_DT  liability_NN  ._. 
IRS_NNP  Notice_NN  89-136_CD  describes_VBZ  this_DT  and_CC  other_JJ  deadline_NN  relief_NN  for_IN  Hugo_NNP  's_POS  victims_NNS  ._. 
Among_IN  the_DT  provisions_NNS  :_:  Fiscal-year_JJ  taxpayers_NNS  with_IN  returns_NNS  due_JJ  last_JJ  Monday_NNP  wo_MD  n't_RB  be_VB  penalized_VBN  if_IN  they_PRP  file_VBP  --_:  or_CC  request_VB  an_DT  extension_NN  --_:  and_CC  pay_VB  tax_NN  due_JJ  by_IN  Nov._NNP  15_CD  ._. 
Excise-tax_JJ  returns_NNS  due_JJ  by_IN  Oct._NNP  31_CD  or_CC  Nov._NNP  30_CD  may_MD  be_VB  delayed_VBN  to_TO  Jan._NNP  16_CD  ._. 
Extensions_NNS  ca_MD  n't_RB  be_VB  granted_VBN  for_IN  filing_VBG  employment-tax_JJ  returns_NNS  due_JJ  Oct._NNP  31_CD  or_CC  for_IN  depositing_VBG  withheld_VBN  taxes_NNS  ,_,  but_CC  late_JJ  penalties_NNS  will_MD  be_VB  abated_VBN  for_IN  deposits_NNS  made_VBN  by_IN  Nov._NNP  15_CD  ._. 
The_DT  notice_NN  also_RB  grants_VBZ  relief_NN  for_IN  certain_JJ  estate-tax_JJ  returns_NNS  ._. 
ONE-DAY_JJ  JAUNTS_NNS  in_IN  a_DT  chartered_JJ  boat_NN  were_VBD  perks_NNS  for_IN  permanent_JJ  staffers_NNS  of_IN  American_NNP  Business_NNP  Service_NNP  Corp._NNP  ,_,  a_DT  Costa_NNP  Mesa_NNP  ,_,  Calif._NNP  ,_,  supplier_NN  of_IN  temporary_JJ  workers_NNS  ._. 
The_DT  IRS_NNP  denied_VBD  cost_NN  deductions_NNS  because_IN  few_NN  of_IN  the_DT  temps_NNS  got_VBD  to_TO  go_VB  aboard_RB  ._. 
But_CC  the_DT  Tax_NNP  Court_NNP  said_VBD  the_DT  limitations_NNS  were_VBD  reasonable_JJ  and_CC  realistic_JJ  and_CC  allowed_VBD  the_DT  deductions_NNS  ._. 
USED-CAR_NN  BUYERS_NNS  who_WP  try_VBP  to_TO  avoid_VB  sales_NNS  tax_VB  by_IN  understating_VBG  prices_NNS  paid_VBN  in_IN  private_JJ  deals_NNS  are_VBP  the_DT  targets_NNS  of_IN  a_DT  New_NNP  York_NNP  drive_NN  ._. 
Estimating_VBG  that_IN  the_DT  state_NN  may_MD  lose_VB  $_$  15_CD  million_CD  a_DT  year_NN  ,_,  officials_NNS  announced_VBD  the_DT  filing_NN  of_IN  15_CD  criminal_JJ  actions_NNS  and_CC  ``_``  hundreds_NNS  ''_''  of_IN  civil_JJ  penalties_NNS  ._. 
WHEN_WRB  AN_DT  IRA_NNP  OWNER_NNP  dies_VBZ  ,_,  the_DT  trustee_NN  of_IN  the_DT  individual_JJ  retirement_NN  account_NN  must_MD  file_VB  forms_NNS  5498_CD  reporting_VBG  market_NN  values_NNS  relating_VBG  to_TO  the_DT  decedent_NN  and_CC  each_DT  beneficiary_NN  ,_,  with_IN  copies_NNS  to_TO  the_DT  executor_NN  and_CC  beneficiaries_NNS  ._. 
IRS_NNP  Revenue_NN  Procedure_NN  89-52_CD  describes_VBZ  the_DT  reporting_VBG  requirements_NNS  ._. 
BIGGER_JJR  THAN_IN  A_DT  BREADBOX_NN  was_VBD  this_DT  cash_NN  hoarder_NN  's_POS  reputation_NN  for_IN  honesty_NN  ._. 
People_NNS  often_RB  cite_VBP  frugality_NN  and_CC  distrust_NN  of_IN  banks_NNS  to_TO  justify_VB  cash_NN  caches_NNS  to_TO  the_DT  IRS_NNP  ._. 
Gregory_NNP  Damonne_NNP  Brown_NNP  of_IN  Fremont_NNP  ,_,  Calif._NNP  ,_,  a_DT  hardworking_JJ  ,_,  reclusive_JJ  young_JJ  bachelor_NN  ,_,  told_VBD  that_DT  story_NN  to_TO  the_DT  Tax_NNP  Court_NNP  ._. 
But_CC  judges_NNS  usually_RB  find_VBP  the_DT  real_JJ  aim_NN  is_VBZ  to_TO  escape_VB  tax_NN  on_IN  hidden_VBN  income_NN  ;_:  and_CC  the_DT  IRS_NNP  said_VBD  Brown_NNP  must_MD  have_VB  had_VBN  such_JJ  income_NN  --_:  although_IN  it_PRP  uncovered_VBD  no_DT  source_NN  --_:  because_IN  he_PRP  deposited_VBD  $_$  124,732_CD  in_IN  a_DT  bank_NN  account_NN  in_IN  1982-84_CD  while_IN  reporting_VBG  income_NN  of_IN  only_RB  $_$  52,012_CD  ._. 
Brown_NNP  's_POS  story_NN  :_: 
The_DT  deposits_NNS  came_VBD  from_IN  savings_NNS  kept_VBD  in_IN  a_DT  Tupperware_NNP  breadbox_NN  ;_:  he_PRP  saved_VBD  $_$  47,000_CD  in_IN  1974-81_CD  by_IN  living_VBG  with_IN  family_NN  members_NNS  and_CC  pinching_VBG  pennies_NNS  and_CC  $_$  45,000_CD  of_IN  secret_JJ  gifts_NNS  from_IN  his_PRP$  remorseful_JJ  father_NN  ,_,  who_WP  had_VBD  abandoned_VBN  the_DT  family_NN  in_IN  1955_CD  ._. 
Brown_NNP  had_VBD  no_DT  proof_NN  ;_:  but_CC  testimony_NN  of_IN  his_PRP$  mother_NN  and_CC  stepmother_NN  about_IN  his_PRP$  father_NN  and_CC  of_IN  an_DT  ex-employer_NN  about_IN  his_PRP$  honesty_NN  and_CC  habits_NNS  satisfied_VBD  a_DT  judge_NN  that_IN  Brown_NNP  was_VBD  truthful_JJ  and_CC  his_PRP$  tale_NN  of_IN  gifts_NNS  was_VBD  possible_JJ  ._. 
The_DT  IRS_NNP  offered_VBD  no_DT  evidence_NN  of_IN  hidden_VBN  sources_NNS  of_IN  taxable_JJ  income_NN  ,_,  so_RB  Judge_NNP  Shields_NNP  rejected_VBD  its_PRP$  claims_NNS  ._. 
BRIEFS_NNS  :_: 
Asked_VBN  how_WRB  he_PRP  made_VBD  charitable_JJ  gifts_NNS  of_IN  $_$  26,350_CD  out_IN  of_IN  reported_VBN  two-year_JJ  income_NN  of_IN  $_$  46,892_CD  ,_,  Thomas_NNP  H._NNP  McFall_NNP  of_IN  Bryan_NNP  ,_,  Texas_NNP  ,_,  told_VBD  the_DT  Tax_NNP  Court_NNP  he_PRP  had_VBD  understated_VBN  his_PRP$  income_NN  ._. 
The_DT  court_NN  rejected_VBD  his_PRP$  incredible_JJ  claims_NNS  ,_,  denied_VBD  his_PRP$  deductions_NNS  ,_,  and_CC  imposed_VBD  a_DT  negligence_NN  penalty_NN  ..._:  ._. 
Rep._NNP  Schaefer_NNP  -LRB-_(  R._NNP  ,_,  Colo._NNP  -RRB-_)  entered_VBD  a_DT  bill_NN  to_TO  exempt_VB  from_IN  tax_NN  rewards_NNS  for_IN  tips_NNS  leading_VBG  to_TO  the_DT  arrest_NN  of_IN  violent_JJ  criminals_NNS  ._. 
Kay_NNP  Peterson_NNP  mounts_NNS  her_PRP$  bicycle_NN  and_CC  grinds_VBZ  up_IN  yet_RB  another_DT  steep_NN  ,_,  rocky_JJ  path_NN  seemingly_RB  suitable_JJ  only_RB  for_IN  mountain_NN  goats_NNS  ._. 
After_IN  a_DT  tortuous_JJ  climb_NN  ,_,  she_PRP  is_VBZ  rewarded_VBN  by_IN  a_DT  picture-postcard_NN  vista_NN  :_:  a_DT  glade_NN  of_IN  golden_JJ  aspens_NNS  under_IN  an_DT  azure_JJ  Indian-summer_JJ  sky_NN  ._. 
This_DT  place_NN  is_VBZ  12_CD  miles_NNS  into_IN  the_DT  back_JJ  country_NN  --_:  a_DT  day-long_JJ  trudge_NN  for_IN  a_DT  hiker_NN  ,_,  but_CC  reached_VBD  by_IN  Ms._NNP  Peterson_NNP  and_CC  six_CD  others_NNS  in_IN  a_DT  mere_JJ  two_CD  hours_NNS  of_IN  pedaling_VBG  fat-tired_JJ  mountain_NN  bikes_NNS  ._. 
``_``  This_DT  ,_,  ''_''  says_VBZ  Ms._NNP  Peterson_NNP  ,_,  ``_``  is_VBZ  what_WP  it_PRP  's_VBZ  all_DT  about_IN  ._.  ''_'' 
Twelve_CD  hundred_CD  miles_NNS  away_RB  ,_,  rangers_NNS  at_IN  a_DT  Napa_NNP  County_NNP  ,_,  Calif._NNP  ,_,  state_NN  park_NN  are_VBP  among_IN  the_DT  many_JJ  who_WP  do_VBP  n't_RB  quite_RB  share_VBP  the_DT  enthusiasm_NN  ._. 
This_DT  summer_NN  ,_,  speeding_VBG  bikers_NNS  were_VBD  blamed_VBN  for_IN  an_DT  accident_NN  in_IN  the_DT  Napa_NNP  County_NNP  park_NN  ,_,  in_IN  which_WDT  a_DT  horse_NN  --_:  spooked_VBN  on_IN  a_DT  trail_NN  that_WDT  was_VBD  closed_VBN  to_TO  bikers_NNS  --_:  broke_VBD  its_PRP$  leg_NN  ._. 
The_DT  animal_NN  had_VBD  to_TO  be_VB  destroyed_VBN  ;_:  the_DT  bikers_NNS  fled_VBD  and_CC  were_VBD  never_RB  found_VBN  ._. 
In_IN  numerous_JJ  parks_NNS  near_IN  San_NNP  Francisco_NNP  ,_,  rangers_NNS  have_VBP  been_VBN  forced_VBN  to_TO  close_VB  trails_NNS  ,_,  set_VBN  up_IN  speed_NN  traps_NNS  and_CC  use_NN  radar_NN  guns_NNS  to_TO  curb_VB  fast_RB  and_CC  reckless_JJ  riding_NN  ._. 
They_PRP  have_VBP  even_RB  sent_VBN  helicopters_NNS  in_IN  pursuit_NN  of_IN  bikers_NNS  after_IN  hikers_NNS  and_CC  equestrians_NNS  complained_VBD  they_PRP  were_VBD  being_VBG  driven_VBN  from_IN  trails_NNS  ._. 
``_``  We_PRP  were_VBD  being_VBG  overrun_VBN  ,_,  ''_''  says_VBZ  Steve_NNP  Fiala_NNP  ,_,  trails_NNS  coordinator_NN  of_IN  the_DT  East_NNP  Bay_NNP  Regional_NNP  Park_NNP  District_NNP  ._. 
Two_CD  years_NNS  ago_RB  ,_,  the_DT  district_NN  decided_VBD  to_TO  limit_VB  the_DT  bikes_NNS  to_TO  fire_VB  roads_NNS  in_IN  its_PRP$  65,000_CD  hilly_JJ  acres_NNS  ._. 
From_IN  about_IN  200,000_CD  six_CD  years_NNS  ago_RB  ,_,  the_DT  number_NN  of_IN  mountain_NN  bikes_NNS  in_IN  the_DT  U.S._NNP  is_VBZ  expected_VBN  to_TO  grow_VB  to_TO  10_CD  million_CD  in_IN  1990_CD  ._. 
At_IN  least_JJS  half_PDT  that_DT  growth_NN  will_MD  have_VB  come_VBN  in_IN  the_DT  past_JJ  three_CD  years_NNS  alone_RB  ._. 
The_DT  controversy_NN  kicked_VBD  up_IN  by_IN  the_DT  proliferation_NN  of_IN  these_DT  all-terrain_JJ  bicycles_NNS  is_VBZ  one_CD  of_IN  the_DT  most_RBS  divisive_JJ  storms_NNS  to_TO  blow_VB  through_IN  the_DT  national_JJ  conservation_NN  movement_NN  in_IN  recent_JJ  memory_NN  ._. 
Bikers_NNS  --_:  many_NN  of_IN  them_PRP  ardent_JJ  environmentalists_NNS  --_:  proclaim_VB  their_PRP$  sport_NN  an_DT  efficient_JJ  ,_,  safe_JJ  ,_,  fitness-promoting_JJ  way_NN  to_TO  get_VB  back_RB  to_TO  nature_NN  ,_,  while_IN  asserting_VBG  a_DT  right_NN  ,_,  as_IN  taxpayers_NNS  ,_,  to_TO  pedal_VB  on_IN  public_JJ  lands_NNS  ._. 
But_CC  the_DT  bikes_NNS  '_POS  burgeoning_VBG  numbers_NNS  ,_,  safety_NN  concerns_NNS  and_CC  fear_NN  that_IN  they_PRP  damage_VBP  fragile_JJ  landscapes_NNS  have_VBP  prompted_VBN  pleas_NNS  ,_,  from_IN  the_DT  Sierras_NNPS  to_TO  the_DT  Eastern_NNP  Seaboard_NNP  ,_,  to_TO  ban_VB  them_PRP  from_IN  the_DT  back_JJ  country_NN  ._. 
Key_NNP  to_TO  the_DT  issue_NN  is_VBZ  that_IN  the_DT  bikes_NNS  ,_,  in_IN  skillful_JJ  hands_NNS  ,_,  can_MD  go_VB  virtually_RB  anywhere_RB  ,_,  and_CC  in_IN  reckless_JJ  hands_NNS  can_MD  become_VB  vehicles_NNS  of_IN  terror_NN  ._. 
An_DT  adept_JJ  bicyclist_NN  can_MD  leap_VB  from_IN  a_DT  dead_JJ  stop_NN  to_TO  the_DT  top_NN  of_IN  a_DT  picnic_NN  table_NN  without_IN  losing_VBG  balance_NN  ._. 
Such_JJ  skills_NNS  allow_VBP  riders_NNS  to_TO  fly_VB  down_RB  treacherous_JJ  mountain_NN  grades_NNS  at_IN  speeds_NNS  of_IN  up_IN  to_TO  40_CD  miles_NNS  an_DT  hour_NN  --_:  a_DT  thrill_NN  for_IN  the_DT  cyclist_NN  but_CC  a_DT  nightmare_NN  for_IN  unsuspecting_JJ  hikers_NNS  or_CC  equestrians_NNS  ._. 
For_IN  harried_VBN  public-land_JJ  managers_NNS  across_IN  the_DT  nation_NN  ,_,  the_DT  response_NN  is_VBZ  increasingly_RB  to_TO  shut_VB  the_DT  gates_NNS  ._. 
The_DT  state_NN  of_IN  California_NNP  ,_,  following_VBG  the_DT  lead_NN  of_IN  some_DT  regional_JJ  parks_NNS  ,_,  recently_RB  adopted_VBN  regulations_NNS  that_WDT  closed_VBD  nearly_RB  all_DT  hiking_VBG  paths_NNS  in_IN  state_NN  parks_NNS  to_TO  mountain_NN  bicycles_NNS  ._. 
The_DT  move_NN  largely_RB  consigns_VBZ  them_PRP  to_TO  roads_NNS  used_VBN  by_IN  motorized_JJ  vehicles_NNS  ._. 
Most_JJS  other_JJ  states_NNS  have_VBP  enacted_VBN  similar_JJ  bans_NNS  ._. 
The_DT  bikes_NNS  are_VBP  unwelcome_JJ  on_IN  trails_NNS  in_IN  national_JJ  parks_NNS  ._. 
Even_RB  the_DT  U.S._NNP  Forest_NNP  Service_NNP  ,_,  whose_WP$  lenient_JJ  ``_``  multiple-use_JJ  ''_''  philosophy_NN  permits_VBZ  motorized_VBN  vehicles_NNS  on_IN  thousands_NNS  of_IN  miles_NNS  of_IN  its_PRP$  trails_NNS  across_IN  the_DT  U.S._NNP  ,_,  has_VBZ  begun_VBN  to_TO  close_VB  some_DT  lands_NNS  to_TO  the_DT  bikes_NNS  ,_,  including_VBG  major_JJ  portions_NNS  of_IN  the_DT  popular_JJ  Pacific_NNP  Crest_NNP  Trail_NNP  ,_,  which_WDT  stretches_VBZ  from_IN  California_NNP  to_TO  Canada_NNP  ._. 
Often_RB  these_DT  closings_NNS  come_VBP  after_IN  vigorous_JJ  anti-bike_JJ  lobbying_NN  by_IN  conservation_NN  organizations_NNS  ,_,  the_DT  politically_RB  potent_JJ  Sierra_NNP  Club_NNP  among_IN  them_PRP  ._. 
Sierra_NNP  has_VBZ  been_VBN  instrumental_JJ  in_IN  securing_VBG  a_DT  number_NN  of_IN  the_DT  California_NNP  bans_NNS  ._. 
It_PRP  has_VBZ  been_VBN  waging_VBG  an_DT  all-out_JJ  campaign_NN  to_TO  beat_VB  back_RB  a_DT  proposal_NN  ,_,  pushed_VBN  by_IN  Utah_NNP  bike_NN  groups_NNS  ,_,  to_TO  allow_VB  the_DT  cycles_NNS  in_IN  federally_RB  designated_VBN  wilderness_NN  areas_NNS  ,_,  where_WRB  they_PRP  are_VBP  now_RB  prohibited_VBN  ._. 
Yet_RB  Sierra_NNP  's_POS  hard-line_JJ  stance_NN  has_VBZ  created_VBN  something_NN  of_IN  a_DT  rift_NN  in_IN  the_DT  organization_NN  ,_,  which_WDT  estimates_VBZ  that_IN  17_CD  %_NN  of_IN  its_PRP$  500,000_CD  members_NNS  own_JJ  mountain_NN  bikes_NNS  ._. 
Pressure_NN  from_IN  these_DT  members_NNS  prompted_VBD  the_DT  club_NN  recently_RB  to_TO  soften_VB  its_PRP$  anti-bike_JJ  rhetoric_NN  ;_:  it_PRP  no_RB  longer_RB  ,_,  for_IN  example_NN  ,_,  lumps_VBZ  the_DT  bikes_NNS  into_IN  the_DT  same_JJ  category_NN  as_IN  motorcycles_NNS  and_CC  other_JJ  terrain-marring_JJ  off-road_JJ  vehicles_NNS  ._. 
But_CC  the_DT  club_NN  still_RB  insists_VBZ  that_IN  public_JJ  lands_NNS  ought_MD  to_TO  be_VB  closed_VBN  to_TO  the_DT  bikes_NNS  unless_IN  studies_NNS  indicate_VBP  the_DT  bikes_NNS  wo_MD  n't_RB  injure_VB  the_DT  environment_NN  or_CC  other_JJ  users_NNS  ._. 
``_``  I_PRP  have_VBP  a_DT  mountain_NN  bike_NN  ,_,  yet_RB  as_IN  a_DT  hiker_NN  I_PRP  've_VBP  been_VBN  run_VB  off_IN  the_DT  road_NN  by_IN  kids_NNS  careening_VBG  down_RP  a_DT  fire_NN  trail_NN  on_IN  them_PRP  ,_,  ''_''  says_VBZ  Gene_NNP  Coan_NNP  ,_,  an_DT  official_NN  at_IN  Sierra_NNP  's_POS  headquarters_NN  in_IN  San_NNP  Francisco_NNP  ,_,  echoing_VBG  the_DT  concerns_NNS  of_IN  many_JJ  members_NNS  ._. 
``_``  People_NNS  who_WP  feel_VBP  that_IN  cyclists_NNS  should_MD  be_VB  banned_VBN  from_IN  an_DT  area_NN  are_VBP  n't_RB  looking_VBG  at_IN  the_DT  whole_JJ  picture_NN  ,_,  ''_''  complains_VBZ  Mark_NNP  Langton_NNP  ,_,  associate_JJ  editor_NN  of_IN  Mountain_NNP  and_CC  City_NNP  Biking_NNP  magazine_NN  in_IN  Canoga_NNP  Park_NNP  ,_,  Calif_NNP  ._. 
Mr._NNP  Langton_NNP  is_VBZ  among_IN  the_DT  legions_NNS  of_IN  bikers_NNS  who_WP  got_VBD  their_PRP$  first_JJ  taste_NN  of_IN  wilderness_NN  as_IN  hikers_NNS  or_CC  backpackers_NNS  ._. 
He_PRP  says_VBZ  fellow_NN  bikers_NNS  show_VBP  the_DT  same_JJ  concern_NN  for_IN  the_DT  land_NN  that_IN  they_PRP  demonstrated_VBD  as_IN  hikers_NNS  ;_:  many_JJ  are_VBP  appalled_VBN  that_IN  the_DT  conservation_NN  community_NN  would_MD  suddenly_RB  consider_VB  them_PRP  the_DT  enemy_NN  ._. 
To_TO  fight_VB  back_RB  ,_,  activists_NNS  such_JJ  as_IN  Mr._NNP  Langton_NNP  are_VBP  forming_VBG  groups_NNS  to_TO  lobby_VB  land_NN  managers_NNS  over_IN  access_NN  issues_NNS  and_CC  undertake_VB  education_NN  programs_NNS  to_TO  show_VB  that_IN  the_DT  bikes_NNS  can_MD  responsibly_RB  share_VB  trails_NNS  ._. 
Mr._NNP  Langton_NNP  's_POS  group_NN  ,_,  Concerned_NNP  Off-Road_NNP  Bicyclists_NNPS  Association_NNP  ,_,  mounted_VBN  petition_NN  drives_NNS  to_TO  help_VB  keep_VB  open_JJ  certain_JJ  Santa_NNP  Monica_NNP  Mountain_NNP  trails_NNS  designated_VBN  for_IN  closing_VBG  ._. 
Biking_NNP  groups_NNS  in_IN  Montana_NNP  ,_,  Idaho_NNP  ,_,  Michigan_NNP  and_CC  Massachusetts_NNP  have_VBP  won_VBN  similar_JJ  concessions_NNS  ,_,  says_VBZ  Tim_NNP  Blumenthal_NNP  ,_,  mountain_NN  bike_NN  editor_NN  of_IN  Bicycling_NNP  magazine_NN  ._. 
These_DT  groups_NNS  have_VBP  been_VBN  trying_VBG  to_TO  improve_VB  the_DT  mountain_NN  biker_NN  's_POS  image_NN  ;_:  in_IN  the_DT  San_NNP  Francisco-area_JJ  park_NN  district_NN  where_WRB  a_DT  ranger_NN  was_VBD  clobbered_VBN  by_IN  a_DT  cyclist_NN  this_DT  summer_NN  bikers_NNS  have_VBP  formed_VBN  a_DT  volunteer_NN  patrol_NN  to_TO  help_VB  rangers_NNS  enforce_VB  regulations_NNS  ,_,  and_CC  to_TO  school_VB  riders_NNS  in_IN  proper_JJ  trail_NN  etiquette_NN  ._. 
Even_RB  staunch_JJ  anti-bike_JJ  Sierra_NNP  members_NNS  concede_VBP  that_IN  10_CD  %_NN  of_IN  all_DT  riders_NNS  cause_VBP  most_RBS  of_IN  the_DT  problems_NNS  ._. 
While_IN  some_DT  are_VBP  renegade_NN  riders_NNS  who_WP  simply_JJ  scorn_NN  regulations_NNS  ,_,  much_JJ  bad_JJ  riding_NN  simply_RB  reflects_VBZ  ignorance_NN  that_WDT  can_MD  be_VB  corrected_VBN  through_IN  ``_``  education_NN  and_CC  peer_NN  pressure_NN  ,_,  ''_''  says_VBZ  Jim_NNP  Hasenauer_NNP  ,_,  a_DT  director_NN  of_IN  the_DT  International_NNP  Mountain_NNP  Biking_NNP  Association_NNP  ._. 
``_``  I_PRP  think_VBP  we_PRP  're_VBP  making_VBG  progress_NN  ._.  ''_'' 
Few_JJ  would_MD  have_VB  foreseen_VBN  such_JJ  a_DT  furor_NN  when_WRB  ,_,  a_DT  decade_NN  ago_RB  ,_,  some_DT  Marin_NNP  County_NNP  bicycle_NN  enthusiasts_NNS  created_VBD  a_DT  hybrid_JJ  bike_NN  using_VBG  fat_JJ  tires_NNS  ,_,  lightweight_JJ  metallurgy_NN  and_CC  multi-gear_JJ  technology_NN  ._. 
They_PRP  wanted_VBD  a_DT  machine_NN  that_WDT  would_MD  allow_VB  them_PRP  to_TO  pedal_VB  into_IN  rugged_JJ  terrain_NN  then_RB  inaccessible_JJ  to_TO  cycles_NNS  ._. 
They_PRP  got_VBD  a_DT  machine_NN  more_RBR  responsive_JJ  ,_,  more_RBR  stable_JJ  and_CC  in_IN  many_JJ  ways_NNS  easier_JJR  to_TO  ride_VB  than_IN  the_DT  thin-tired_JJ  racing_NN  bikes_NNS  that_IN  then_RB  were_VBD  the_DT  rage_NN  ._. 
When_WRB  the_DT  bikes_NNS  first_JJ  entered_VBD  mass_NN  production_NN  in_IN  1981_CD  ,_,  they_PRP  were_VBD  dismissed_VBN  as_IN  a_DT  fad_NN  ._. 
Last_JJ  year_NN  ,_,  25_CD  %_NN  of_IN  the_DT  10_CD  million_CD  bicycles_NNS  sold_VBN  in_IN  the_DT  U.S._NNP  were_VBD  mountain_NN  bikes_NNS  ._. 
In_IN  California_NNP  ,_,  a_DT  bellwether_NN  market_NN  ,_,  they_PRP  accounted_VBD  for_IN  more_JJR  than_IN  80_CD  %_NN  of_IN  all_DT  bike_NN  sales_NNS  ._. 
The_DT  majority_NN  of_IN  the_DT  bikes_NNS  never_RB  even_RB  make_VB  it_PRP  into_IN  the_DT  high_JJ  country_NN  ._. 
City_NN  dwellers_NNS  love_VBP  them_PRP  because_IN  they_PRP  shift_VBP  smoothly_RB  in_IN  traffic_NN  ,_,  bounce_VB  easily_RB  over_IN  curbs_NNS  and_CC  roll_NN  through_IN  road_NN  glass_NN  with_IN  far_RB  fewer_RBR  flat_JJ  tires_NNS  than_IN  racing_VBG  bikes_NNS  ._. 
Crested_NNP  Butte_NNP  ,_,  population_NN  1,200_CD  ,_,  is_VBZ  a_DT  bastion_NN  of_IN  the_DT  sport_NN  ._. 
By_IN  one_CD  estimate_NN  ,_,  everyone_NN  here_RB  under_IN  50_CD  owns_VBZ  at_IN  least_JJS  one_CD  bike_NN  ._. 
The_DT  town_NN  is_VBZ  home_NN  to_TO  the_DT  Mountain_NNP  Bike_NNP  Hall_NNP  of_IN  Fame_NNP  and_CC  it_PRP  hosts_VBZ  the_DT  annual_JJ  Fat_NNP  Tire_NNP  Bike_NNP  Week_NNP  ._. 
This_DT  summer_NN  ,_,  the_DT  jamboree_NN  attracted_VBN  more_JJR  visitors_NNS  than_IN  the_DT  busiest_JJS  week_NN  of_IN  the_DT  town_NN  's_POS  winter_NN  ski_NN  season_NN  ._. 
David_NNP  Lindsey_NNP  ,_,  chairman_NN  of_IN  the_DT  Fat_NNP  Tire_NNP  Bike_NNP  celebration_NN  ,_,  muses_VBZ  that_IN  the_DT  bike_NN  's_POS  popularity_NN  may_MD  be_VB  a_DT  combination_NN  of_IN  technology_NN  and_CC  nostalgia_NN  ._. 
``_``  The_DT  mountain_NN  bike_NN  feels_VBZ  as_RB  comfortable_JJ  as_IN  the_DT  `_``  paperboy_NN  '_''  bike_NN  you_PRP  had_VBD  as_IN  a_DT  kid_NN  ,_,  but_CC  it_PRP  can_MD  do_VB  so_RB  much_RB  more_JJR  ,_,  ''_''  he_PRP  says_VBZ  ._. 
The_DT  following_VBG  issues_NNS  were_VBD  recently_RB  filed_VBN  with_IN  the_DT  Securities_NNP  and_CC  Exchange_NNP  Commission_NNP  :_: 
Canada_NNP  's_POS  Province_NNP  of_IN  Nova_NNP  Scotia_NNP  ,_,  shelf_NN  offering_NN  of_IN  up_IN  to_TO  $_$  550_CD  million_CD  of_IN  debentures_NNS  ._. 
Golar_NNP  Gas_NNP  Holding_NNP  Co._NNP  ,_,  a_DT  subsidiary_NN  of_IN  Gotaas-Larsen_NNP  Shipping_NNP  Corp._NNP  ,_,  offering_NN  of_IN  $_$  280_CD  million_CD  first_JJ  preferred_JJ  ship_NN  mortgage_NN  notes_NNS  ,_,  via_IN  Merrill_NNP  Lynch_NNP  Capital_NNP  Markets_NNPS  ._. 
H.F._NNP  Ahmanson_NNP  &_CC  Co._NNP  ,_,  offering_NN  of_IN  four_CD  million_CD  shares_NNS  of_IN  noncumulative_JJ  convertible_JJ  preferred_JJ  stock_NN  ,_,  Series_NNP  B._NNP  ,_,  via_IN  Goldman_NNP  ,_,  Sachs_NNP  &_CC  Co_NNP  ,_,  First_NNP  Boston_NNP  Corp._NNP  ,_,  and_CC  Merrill_NNP  Lynch_NNP  ._. 
Shared_NNP  Technologies_NNP  Inc._NNP  ,_,  offering_NN  of_IN  2.5_CD  million_CD  common_JJ  shares_NNS  ,_,  via_IN  Smetek_NNP  ,_,  Van_NNP  Horn_NNP  &_CC  Cormack_NNP  Inc._NNP  and_CC  Oakes_NNP  ,_,  Fitzwilliams_NNP  &_CC  Co_NNP  ._. 
Stock-market_NN  tremors_NNS  again_RB  shook_VBD  bond_NN  prices_NNS  ,_,  while_IN  the_DT  dollar_NN  turned_VBD  in_IN  a_DT  mixed_VBN  performance_NN  ._. 
Early_JJ  yesterday_NN  ,_,  investors_NNS  scrambled_VBD  to_TO  buy_VB  Treasury_NNP  bonds_NNS  for_IN  safety_NN  as_IN  stock_NN  prices_NNS  plummeted_VBD  and_CC  fears_NNS  mounted_VBN  of_IN  a_DT  replay_NN  of_IN  Friday_NNP  ._. 
But_CC  stocks_NNS  later_RB  recovered_VBD  ,_,  erasing_VBG  most_RBS  of_IN  their_PRP$  early_JJ  declines_NNS  ._. 
That_DT  cut_NN  short_VB  the_DT  rally_NN  in_IN  Treasury_NNP  bonds_NNS  and_CC  depressed_JJ  prices_NNS  moderately_RB  below_IN  late_JJ  Monday_NNP  's_POS  levels_NNS  ._. 
The_DT  Dow_NNP  Jones_NNP  Industrial_NNP  Average_NNP  ,_,  down_RB  more_JJR  than_IN  60.25_CD  points_NNS  early_RB  in_IN  the_DT  day_NN  ,_,  finished_VBD  18.65_CD  points_NNS  lower_JJR  at_IN  2638.73_CD  ._. 
Long-term_NNP  Treasury_NNP  issues_NNS  declined_VBD  about_IN  half_PDT  a_DT  point_NN  ,_,  or_CC  $_$  5_NN  for_IN  each_DT  $_$  1,000_CD  face_NN  amount_NN  ._. 
``_``  The_DT  stock_NN  market_NN  clearly_RB  is_VBZ  leading_VBG  the_DT  bond_NN  markets_NNS  ,_,  ''_''  said_VBD  Jack_NNP  Conlon_NNP  ,_,  an_DT  executive_JJ  vice_NN  president_NN  at_IN  Nikko_NNP  Securities_NNP  ._. 
``_``  People_NNS  are_VBP  breathing_VBG  a_DT  major_JJ  sigh_NN  of_IN  relief_NN  that_IN  the_DT  world_NN  did_VBD  n't_RB  end_VB  Monday_NNP  morning_NN  ''_''  or_CC  yesterday_NN  ._. 
Gold_NNP  ,_,  a_DT  closely_RB  watched_VBN  barometer_NN  of_IN  investor_NN  anxiety_NN  ,_,  was_VBD  little_RB  changed_VBN  ._. 
The_DT  dollar_NN  initially_RB  fell_VBD  against_IN  other_JJ  major_JJ  currencies_NNS  on_IN  news_NN  that_IN  the_DT  U.S._NNP  trade_NN  deficit_NN  surged_VBD  in_IN  August_NNP  to_TO  $_$  10.77_CD  billion_CD  ._. 
But_CC  the_DT  dollar_NN  later_RB  rebounded_VBD  ,_,  finishing_VBG  slightly_RB  higher_JJR  against_IN  the_DT  yen_NN  although_IN  slightly_RB  lower_JJR  against_IN  the_DT  mark_NN  ._. 
Federal_NNP  Reserve_NNP  officials_NNS  sent_VBD  another_DT  signal_NN  of_IN  their_PRP$  determination_NN  to_TO  shore_VB  up_IN  investor_NN  confidence_NN  ._. 
In_IN  an_DT  apparent_JJ  attempt_NN  to_TO  keep_VB  a_DT  lid_NN  on_IN  short-term_JJ  interest_NN  rates_NNS  ,_,  the_DT  Fed_NNP  once_RB  again_RB  pumped_VBN  money_NN  into_IN  the_DT  banking_NN  system_NN  ._. 
But_CC  the_DT  Fed_NNP  move_NN  was_VBD  a_DT  small_JJ  gesture_NN  ,_,  traders_NNS  said_VBD  ._. 
Fed_JJ  officials_NNS  appear_VBP  reluctant_JJ  to_TO  ease_VB  their_PRP$  credit_NN  grip_NN  any_DT  further_JJ  because_IN  a_DT  bold_JJ  move_NN  does_VBZ  n't_RB  appear_VB  necessary_JJ  ,_,  several_JJ  investment_NN  managers_NNS  said_VBD  ._. 
The_DT  Fed_NNP  has_VBZ  allowed_VBN  a_DT  key_JJ  short-term_JJ  interest_NN  rate_NN  to_TO  decline_VB  about_IN  one-quarter_NN  percentage_NN  point_NN  ._. 
The_DT  federal_JJ  funds_NNS  rate_NN  on_IN  overnight_JJ  loans_NNS  between_IN  banks_NNS  has_VBZ  been_VBN  hovering_VBG  around_IN  8_CD  3\/4_CD  %_NN  ,_,  down_RB  from_IN  9_CD  %_NN  previously_RB  ._. 
Although_IN  stocks_NNS  have_VBP  led_VBN  bonds_NNS  this_DT  week_NN  ,_,  some_DT  traders_NNS  predict_VBP  that_DT  relationship_NN  will_MD  reverse_VB  during_IN  the_DT  next_JJ  few_JJ  weeks_NNS  ._. 
Nikko_NNP  's_POS  Mr._NNP  Conlon_NNP  fears_VBZ  a_DT  huge_JJ  wave_NN  of_IN  Treasury_NNP  borrowing_NN  early_JJ  next_JJ  month_NN  will_MD  drive_VB  down_RB  Treasury_NNP  bond_NN  prices_NNS  ._. 
That_DT  ,_,  coupled_VBN  with_IN  poor_JJ  third-quarter_JJ  corporate-earnings_NNS  comparisons_NNS  ,_,  ``_``  will_MD  make_VB  trouble_NN  for_IN  the_DT  equity_NN  market_NN  for_IN  the_DT  next_JJ  two_CD  to_TO  three_CD  months_NNS  ,_,  ''_''  he_PRP  says_VBZ  ._. 
But_CC  several_JJ  other_JJ  traders_NNS  contend_VBP  investors_NNS  have_VBP  overreacted_VBN  to_TO  junk-bond_NN  jitters_NNS  ,_,  and_CC  that_IN  stock_NN  prices_NNS  will_MD  continue_VB  to_TO  recover_VB  ._. 
``_``  They_PRP  shot_NN  the_DT  whole_JJ  orchestra_NN  just_RB  because_IN  the_DT  piano_NN  player_NN  hit_VBD  a_DT  bad_JJ  note_NN  ,_,  ''_''  said_VBD  Laszlo_NNP  Birinyi_NNP  ,_,  president_NN  of_IN  Birinyi_NNP  Associates_NNP  Inc._NNP  ,_,  referring_VBG  to_TO  the_DT  stock_NN  market_NN  's_POS  plunge_NN  Friday_NNP  on_IN  news_NN  of_IN  trouble_NN  in_IN  financing_VBG  the_DT  UAL_NNP  Corp_NNP  ._.  buy-out_NN  ._. 
In_IN  major_JJ  market_NN  activity_NN  :_:  Treasury_NNP  bond_NN  prices_NNS  fell_VBD  ._. 
The_DT  yield_NN  on_IN  30-year_NNP  Treasury_NNP  bonds_NNS  climbed_VBD  back_RB  above_IN  8_CD  %_NN  ,_,  ending_VBG  the_DT  day_NN  at_IN  8.03_CD  %_NN  ._. 
The_DT  dollar_NN  was_VBD  mixed_VBN  ._. 
Late_JJ  yesterday_NN  in_IN  New_NNP  York_NNP  ,_,  the_DT  dollar_NN  rose_VBD  to_TO  142.75_CD  yen_NN  from_IN  141.80_CD  yen_NN  Monday_NNP  ,_,  but_CC  fell_VBD  to_TO  1.8667_CD  marks_NNS  from_IN  1.8685_CD  marks_NNS  ._. 
The_DT  Consumer_NNP  News_NNP  and_CC  Business_NNP  Channel_NNP  cable_NN  network_NN  and_CC  U.S._NNP  News_NNP  &_CC  World_NNP  Report_NNP  have_VBP  formed_VBN  a_DT  joint_JJ  venture_NN  to_TO  produce_VB  cable_NN  program_NN  versions_NNS  of_IN  special_JJ  issues_NNS  of_IN  the_DT  magazine_NN  ._. 
The_DT  programs_NNS  will_MD  run_VB  on_IN  the_DT  cable_NN  network_NN  the_DT  Sunday_NNP  evening_NN  immediately_RB  prior_RB  to_TO  the_DT  release_NN  of_IN  the_DT  special_JJ  issue_NN  of_IN  U.S._NNP  News_NNP  &_CC  World_NNP  Report_NNP  ._. 
CNBC_NNP  is_VBZ  a_DT  joint_JJ  venture_NN  of_IN  the_DT  National_NNP  Broadcasting_NNP  Co._NNP  ,_,  a_DT  unit_NN  of_IN  General_NNP  Electric_NNP  Co._NNP  ,_,  and_CC  Cablevision_NNP  System_NNP  Corp_NNP  ._. 
Advertisers_NNS  will_MD  be_VB  offered_VBN  an_DT  advertising_NN  package_NN  ,_,  which_WDT  for_IN  a_DT  single_JJ  price_NN  ,_,  will_MD  include_VB  time_NN  on_IN  the_DT  CNBC_NNP  program_NN  and_CC  ad_NN  pages_NNS  in_IN  the_DT  special_JJ  guides_NNS  ._. 
CNBC_NNP  will_MD  produce_VB  six_CD  ,_,  one-hour_JJ  programs_NNS  ,_,  beginning_VBG  in_IN  April_NNP  1990_CD  ._. 
The_DT  first_JJ  program_NN  scheduled_VBN  in_IN  the_DT  joint_JJ  venture_NN  is_VBZ  ``_``  The_DT  1990_CD  Homeowner_NNP  's_POS  Guide_NNP  ._.  ''_'' 
Other_JJ  programs_NNS  and_CC  special_JJ  issues_NNS  will_MD  be_VB  based_VBN  on_IN  themes_NNS  of_IN  health_NN  ,_,  jobs_NNS  ,_,  personal_JJ  finance_NN  ,_,  the_DT  best_JJS  colleges_NNS  ,_,  and_CC  investments_NNS  ._. 
The_DT  programs_NNS  will_MD  be_VB  written_VBN  and_CC  produced_VBN  by_IN  CNBC_NNP  ,_,  with_IN  background_NN  and_CC  research_NN  provided_VBN  by_IN  staff_NN  from_IN  U.S._NNP  News_NNP  &_CC  World_NNP  Report_NNP  ._. 
Skoal_NNP  Daze_NNP 
I_PRP  've_VBP  learned_VBD  the_DT  hard_JJ  way_NN  that_IN  too_RB  much_JJ  booze_NN  Takes_VBZ  revenge_NN  the_DT  next_JJ  day_NN  about_IN  nine_CD  ;_:  No_DT  wonder_NN  I_PRP  say_VBP  ,_,  ``_``  I_PRP  drink_VBP  to_TO  your_PRP$  health_NN  ''_''  --_:  It_PRP  certainly_RB  is_VBZ  n't_RB  to_TO  mine_VB  !_. 
--_:  George_NNP  O._NNP  Ludcke_NNP  ._. 
Spaced_NNP  Out_IN 
Those_DT  supermarket_NN  tabloids_NNS  Make_VBP  me_PRP  feel_VBP  slow_JJ  Because_IN  I_PRP  still_RB  have_VBP  n't_RB  seen_VBN 
--_:  Bruce_NNP  Kafaroff_NNP  ._. 
Daffynition_NN 
Repression_NN  :_:  emote_VB  control_NN  ._. 
--_:  Daisy_NNP  Brown_NNP  ._. 
Weyerhaeuser_NNP  Co._NNP  reported_VBD  a_DT  one-time_JJ  gain_NN  and_CC  strong_JJ  wood-product_NN  sales_NNS  that_WDT  offset_VBP  weakness_NN  in_IN  pulp_NN  and_CC  paper_NN  to_TO  fuel_VB  a_DT  15_CD  %_NN  jump_NN  in_IN  third-quarter_JJ  net_JJ  income_NN  to_TO  $_$  166.8_CD  million_CD  ,_,  or_CC  78_CD  cents_NNS  a_DT  share_NN  ._. 
In_IN  the_DT  1988_CD  third_JJ  quarter_NN  ,_,  the_DT  forest-products_NNS  company_NN  reported_VBD  profit_NN  of_IN  $_$  144.9_CD  million_CD  ,_,  or_CC  69_CD  cents_NNS  a_DT  share_NN  ._. 
Sales_NNS  rose_VBD  9_CD  %_NN  to_TO  $_$  2.57_CD  billion_CD  from_IN  $_$  2.36_CD  billion_CD  ._. 
For_IN  the_DT  nine_CD  months_NNS  ,_,  the_DT  company_NN  posted_VBD  a_DT  14_CD  %_NN  rise_NN  in_IN  profit_NN  to_TO  $_$  469.8_CD  million_CD  ,_,  or_CC  $_$  2.21_CD  a_DT  share_NN  ,_,  from_IN  $_$  410.3_CD  million_CD  ,_,  or_CC  $_$  1.95_CD  a_DT  share_NN  ._. 
Sales_NNS  rose_VBD  9_CD  %_NN  to_TO  $_$  7.54_CD  billion_CD  from_IN  $_$  6.95_CD  billion_CD  ._. 
Results_NNS  for_IN  the_DT  1989_CD  third_JJ  quarter_NN  and_CC  nine_CD  months_NNS  include_VBP  a_DT  pretax_JJ  loss_NN  of_IN  $_$  33_CD  million_CD  from_IN  the_DT  company_NN  's_POS  business_NN  improvement_NN  and_CC  refocusing_NN  program_NN  ,_,  and_CC  a_DT  gain_NN  of_IN  $_$  49_CD  million_CD  on_IN  the_DT  sale_NN  of_IN  a_DT  subsidiary_NN  's_POS  common_JJ  stock_NN  ._. 
Forest-products_NNS  operations_NNS  strengthened_VBN  in_IN  the_DT  third_JJ  quarter_NN  ,_,  while_IN  paper_NN  operations_NNS  were_VBD  dogged_VBN  by_IN  higher_JJR  costs_NNS  ,_,  soft_JJ  newsprint_NN  exports_NNS  and_CC  a_DT  strong_JJ  Japanese_JJ  yen_NN  ._. 
Some_DT  competing_VBG  forest-products_NNS  firms_NNS  have_VBP  recently_RB  reported_VBN  improved_VBN  results_NNS  due_JJ  to_TO  strong_JJ  pulp_NN  and_CC  paper_NN  business_NN  ._. 
Weyerhaeuser_NNP  's_POS  pulp_NN  and_CC  paper_NN  operations_NNS  were_VBD  up_IN  for_IN  the_DT  nine_CD  months_NNS  ,_,  but_CC  full-year_JJ  performance_NN  depends_VBZ  on_IN  the_DT  balance_NN  of_IN  operating_VBG  and_CC  maintenance_NN  costs_NNS  ,_,  plus_CC  pricing_NN  of_IN  certain_JJ  products_NNS  ,_,  the_DT  company_NN  said_VBD  ._. 
Looking_VBG  ahead_RB  to_TO  the_DT  fourth_JJ  quarter_NN  ,_,  the_DT  company_NN  said_VBD  export_NN  log_NN  and_CC  lumber_NN  markets_NNS  will_MD  be_VB  weak_JJ  ,_,  while_IN  panel_NN  and_CC  plywood_NN  markets_NNS  will_MD  be_VB  stronger_JJR  ._. 
Pulp_NNP  and_CC  paper_NN  performance_NN  depends_VBZ  on_IN  cost_NN  and_CC  price_NN  variables_NNS  ,_,  the_DT  company_NN  said_VBD  ._. 
Bankers_NNP  Trust_NNP  New_NNP  York_NNP  Corp._NNP  became_VBD  the_DT  latest_JJS  major_JJ  U.S._NNP  bank_NN  to_TO  increase_VB  reserves_NNS  for_IN  its_PRP$  loans_NNS  to_TO  less-developed_JJ  countries_NNS  ,_,  making_VBG  a_DT  $_$  1.6_CD  billion_CD  third-quarter_JJ  addition_NN  to_TO  its_PRP$  provision_NN  ._. 
The_DT  bank_NN  also_RB  said_VBD  it_PRP  expects_VBZ  to_TO  report_VB  a_DT  $_$  1.42_CD  billion_CD  loss_NN  for_IN  the_DT  third_JJ  quarter_NN  and_CC  a_DT  loss_NN  for_IN  the_DT  full_JJ  year_NN  ._. 
The_DT  new_JJ  reserves_NNS  bring_VBP  the_DT  company_NN  's_POS  provision_NN  for_IN  loans_NNS  to_TO  Third_NNP  World_NNP  countries_NNS  to_TO  $_$  2.6_CD  billion_CD  ,_,  or_CC  85_CD  %_NN  of_IN  Bankers_NNP  Trust_NNP  's_POS  medium_NN  and_CC  long-term_JJ  loans_NNS  to_TO  these_DT  countries_NNS  ._. 
``_``  Step_NN  up_IN  to_TO  the_DT  plate_NN  and_CC  take_VB  the_DT  big_JJ  swing_NN  ._. 
Get_VB  the_DT  problem_NN  behind_IN  you_PRP  and_CC  do_VBP  n't_RB  look_VB  back_RB  ,_,  ''_''  said_VBD  James_NNP  J._NNP  McDermott_NNP  ,_,  analyst_NN  at_IN  Keefe_NNP  ,_,  Bruyette_NNP  &_CC  Woods_NNP  ,_,  in_IN  approving_VBG  of_IN  the_DT  move_NN  ._. 
Bankers_NNP  Trust_NNP  ``_``  has_VBZ  had_VBN  the_DT  capacity_NN  to_TO  do_VB  this_DT  for_IN  some_DT  time_NN  ,_,  ''_''  the_DT  analyst_NN  said_VBD  ._. 
He_PRP  expects_VBZ  Citicorp_NNP  to_TO  take_VB  a_DT  similar_JJ  step_NN  this_DT  year_NN  ._. 
Citicorp_NN  yesterday_NN  reported_VBD  a_DT  9_CD  %_NN  third-quarter_JJ  earnings_NNS  drop_NN  ,_,  which_WDT  analysts_NNS  called_VBD  a_DT  bit_NN  disappointing_JJ  ,_,  while_IN  Manufacturers_NNP  Hanover_NNP  Corp._NNP  posted_VBD  a_DT  $_$  789_CD  million_CD  loss_NN  for_IN  the_DT  quarter_NN  after_IN  adding_VBG  $_$  950_CD  million_CD  to_TO  its_PRP$  reserve_NN  for_IN  loans_NNS  to_TO  less-developed_JJ  countries_NNS  ._. 
Three_CD  other_JJ  major_JJ  U.S._NNP  banks_NNS  posted_VBD  earnings_NNS  increases_NNS  ._. 
Wells_NNP  Fargo_NNP  &_CC  Co._NNP  of_IN  San_NNP  Francisco_NNP  posted_VBD  a_DT  17_CD  %_NN  jump_NN  ._. 
PNC_NNP  Financial_NNP  Corp._NNP  ,_,  the_DT  parent_NN  of_IN  Pittsburgh_NNP  National_NNP  Bank_NNP  ,_,  reported_VBD  net_JJ  income_NN  climbed_VBD  9.8_CD  %_NN  ,_,  while_IN  net_JJ  for_IN  Banc_NNP  One_CD  Corp._NNP  of_IN  Columbus_NNP  ,_,  Ohio_NNP  ,_,  grew_VBD  3.8_CD  %_NN  ._. 
Citicorp_NNP 
Analysts_NNS  were_VBD  only_RB  slightly_RB  disappointed_VBN  by_IN  Citicorp_NNP  's_POS  numbers_NNS  ._. 
``_``  There_EX  's_VBZ  nothing_NN  in_IN  here_RB  that_DT  's_VBZ  horrible_NN  and_CC  nothing_NN  to_TO  make_VB  you_PRP  think_VB  they_PRP  're_VBP  setting_VBG  the_DT  world_NN  on_IN  fire_NN  ,_,  ''_''  said_VBD  Carole_NNP  Berger_NNP  ,_,  analyst_NN  for_IN  C.J._NNP  Lawrence_NNP  ,_,  Morgan_NNP  Grenfell_NNP  Inc_NNP  ._. 
Earnings_NNS  from_IN  the_DT  bank_NN  's_POS  global_JJ  consumer_NN  business_NN  grew_VBD  27_CD  %_NN  ._. 
``_``  The_DT  consumer_NN  business_NN  continues_VBZ  to_TO  drive_VB  the_DT  earnings_NNS  stream_NN  ,_,  ''_''  said_VBD  Mr._NNP  McDermott_NNP  of_IN  Keefe_NNP  ,_,  Bruyette_NNP  &_CC  Woods_NNP  ._. 
Corporate_JJ  finance_NN  and_CC  trading_NN  results_NNS  in_IN  member_NN  countries_NNS  of_IN  the_DT  Organization_NNP  for_IN  Economic_NNP  Cooperation_NNP  and_CC  Development_NNP  were_VBD  ``_``  relatively_RB  flat_JJ  ,_,  sometimes_RB  choppy_JJ  ,_,  ''_''  the_DT  bank_NN  said_VBD  ,_,  and_CC  profit_NN  for_IN  the_DT  area_NN  sank_VBD  27_CD  %_NN  ._. 
The_DT  cross-border_JJ  loan_NN  portfolio_NN  reflected_VBD  ``_``  adjustment_NN  problems_NNS  and_CC  episodic_JJ  payment_NN  patterns_NNS  ,_,  ''_''  the_DT  bank_NN  said_VBD  no_DT  interest_NN  payments_NNS  from_IN  Argentina_NNP  in_IN  the_DT  nine_CD  months_NNS  and_CC  none_NN  from_IN  Brazil_NNP  in_IN  the_DT  third_JJ  quarter_NN  ,_,  while_IN  Venezuela_NNP  brought_VBD  itself_PRP  ``_``  substantially_RB  current_JJ  ._.  ''_'' 
Overall_RB  ,_,  the_DT  portfolio_NN  narrowed_VBD  its_PRP$  quarterly_JJ  loss_NN  to_TO  $_$  70_CD  million_CD  from_IN  $_$  80_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
``_``  People_NNS  were_VBD  waiting_VBG  to_TO  see_VB  if_IN  we_PRP  would_MD  take_VB  an_DT  additional_JJ  provision_NN  ''_''  for_IN  medium-term_JJ  and_CC  long-term_JJ  loans_NNS  to_TO  less-developed_JJ  countries_NNS  ,_,  a_DT  Citicorp_NNP  spokesman_NN  said_VBD  ._. 
But_CC  he_PRP  reiterated_VBD  the_DT  bank_NN  's_POS  position_NN  that_IN  it_PRP  is_VBZ  comfortable_JJ  with_IN  the_DT  current_JJ  level_NN  of_IN  $_$  2.6_CD  billion_CD  ,_,  covering_VBG  about_IN  30_CD  %_NN  of_IN  the_DT  $_$  8.9_CD  billion_CD  of_IN  such_JJ  loans_NNS  outstanding_JJ  ._. 
Ronald_NNP  I._NNP  Mandle_NNP  ,_,  analyst_NN  at_IN  Sanford_NNP  C._NNP  Bernstein_NNP  &_CC  Co._NNP  ,_,  called_VBN  Citicorp_NNP  's_POS  venture-capital_JJ  gains_NNS  of_IN  $_$  93_CD  million_CD  before_IN  taxes_NNS  ``_``  strong_JJ  ._.  ''_'' 
A_DT  ``_``  concerning_VBG  ''_''  item_NN  the_DT  analyst_NN  cited_VBD  was_VBD  the_DT  10_CD  %_NN  jump_NN  in_IN  expenses_NNS  ,_,  which_WDT  the_DT  bank_NN  attributes_NNS  to_TO  costs_NNS  of_IN  expanding_VBG  both_DT  its_PRP$  consumer_NN  credit-card_NN  operations_NNS  and_CC  its_PRP$  overseas_JJ  branch_NN  business_NN  ._. 
Citicorp_NNP  's_POS  spokesman_NN  said_VBD  ,_,  however_RB  ,_,  that_IN  the_DT  bank_NN  is_VBZ  maintaining_VBG  those_DT  expenses_NNS  in_IN  proportion_NN  to_TO  revenue_NN  growth_NN  ._. 
Wells_NNP  Fargo_NNP 
Wells_NNP  Fargo_NNP  continued_VBD  to_TO  generate_VB  one_CD  of_IN  the_DT  highest_JJS  profit_NN  margins_NNS  among_IN  major_JJ  banks_NNS  ,_,  minimizing_VBG  a_DT  drop_NN  in_IN  net_JJ  interest_NN  margin_NN  with_IN  13_CD  %_NN  third-quarter_JJ  growth_NN  in_IN  high-yielding_JJ  business_NN  loans_NNS  and_CC  similar_JJ  growth_NN  in_IN  mortgages_NNS  ._. 
Its_PRP$  margin_NN  fell_VBD  only_RB  seven_CD  basis_NN  points_NNS  ,_,  or_CC  7\/100ths_CD  of_IN  a_DT  percentage_NN  point_NN  ,_,  from_IN  a_DT  year_NN  ago_RB  ,_,  compared_VBN  with_IN  a_DT  13-point_JJ  drop_NN  at_IN  Security_NNP  Pacific_NNP  Corp._NNP  and_CC  much_RB  larger_JJR  declines_NNS  among_IN  banks_NNS  in_IN  other_JJ  parts_NNS  of_IN  the_DT  country_NN  ._. 
As_IN  a_DT  result_NN  ,_,  Wells_NNP  Fargo_NNP  's_POS  net_JJ  interest_NN  income_NN  rose_VBD  $_$  36.3_CD  million_CD  ,_,  or_CC  7_CD  %_NN  ,_,  to_TO  $_$  537_CD  million_CD  for_IN  the_DT  quarter_NN  ._. 
Non-interest_JJ  income_NN  fell_VBD  slightly_RB  to_TO  $_$  191.9_CD  million_CD  from_IN  $_$  193.3_CD  million_CD  ,_,  while_IN  Wells_NNP  Fargo_NNP  continued_VBD  to_TO  rigorously_RB  control_VBP  non-interest_JJ  expense_NN  ,_,  which_WDT  was_VBD  almost_RB  flat_JJ  at_IN  $_$  393.4_CD  million_CD  ._. 
The_DT  combination_NN  of_IN  solid_JJ  loan_NN  growth_NN  with_IN  tight_JJ  expense_NN  control_NN  gave_VBD  Wells_NNP  Fargo_NNP  a_DT  1.25_CD  %_NN  return_NN  on_IN  average_JJ  assets_NNS  for_IN  the_DT  quarter_NN  ,_,  about_IN  40_CD  %_NN  higher_JJR  than_IN  Security_NNP  Pacific_NNP  's_POS  and_CC  a_DT  profit_NN  ratio_NN  matched_VBN  by_IN  only_RB  two_CD  or_CC  three_CD  other_JJ  major_JJ  banks_NNS  in_IN  the_DT  U.S._NNP  ._. 
Wells_NNP  Fargo_NNP  's_POS  return_NN  on_IN  equity_NN  increased_VBN  to_TO  24.4_CD  %_NN  from_IN  23.8_CD  %_NN  ._. 
Wells_NNP  Fargo_NNP  has_VBZ  sold_VBN  all_DT  of_IN  its_PRP$  non-trade_JJ  loans_NNS  made_VBN  to_TO  less-developed_JJ  countries_NNS  ,_,  and_CC  managed_VBD  to_TO  partly_RB  reverse_VB  the_DT  sharp_JJ  rise_NN  in_IN  domestic_JJ  non-accrual_JJ  loans_NNS  ,_,  which_WDT  fell_VBD  8_CD  %_NN  from_IN  the_DT  previous_JJ  quarter_NN  to_TO  $_$  806.8_CD  million_CD  from_IN  $_$  880.9_CD  million_CD  ._. 
But_CC  the_DT  amount_NN  was_VBD  still_RB  39_CD  %_NN  higher_JJR  than_IN  the_DT  year-ago_JJ  level_NN  ,_,  and_CC  25_CD  %_NN  higher_JJR  as_IN  a_DT  percentage_NN  of_IN  total_JJ  loans_NNS  ._. 
That_DT  trend_NN  ,_,  and_CC  Wells_NNP  Fargo_NNP  's_POS  heavy_JJ  exposure_NN  to_TO  leveraged_JJ  buy-outs_NNS  ,_,  are_VBP  about_IN  the_DT  only_RB  worries_VBZ  analysts_NNS  have_VBP  about_IN  Wells_NNP  Fargo_NNP  's_POS  financial_JJ  picture_NN  ._. 
Wells_NNP  Fargo_NNP  is_VBZ  rebuilding_VBG  its_PRP$  loan-loss_NN  reserve_NN  ,_,  which_WDT  increased_VBD  to_TO  $_$  711_CD  million_CD  at_IN  Sept._NNP  30_CD  from_IN  $_$  664_CD  million_CD  the_DT  previous_JJ  quarter_NN  but_CC  was_VBD  down_RB  from_IN  $_$  852_CD  million_CD  a_DT  year_NN  ago_RB  ,_,  when_WRB  the_DT  bank_NN  still_RB  had_VBD  some_DT  shaky_JJ  foreign_JJ  loans_NNS  ._. 
Manufacturers_NNP  Hanover_NNP 
Manufacturers_NNP  Hanover_NNP  said_VBD  that_IN  excluding_VBG  the_DT  addition_NN  to_TO  its_PRP$  reserves_NNS  ,_,  certain_JJ  tax_NN  benefits_NNS  ,_,  and_CC  a_DT  one-time_JJ  $_$  16_CD  million_CD  gain_NN  on_IN  the_DT  sale_NN  of_IN  an_DT  interest_NN  in_IN  a_DT  foreign_JJ  leasing_NN  company_NN  ,_,  third-quarter_JJ  earnings_NNS  were_VBD  $_$  75_CD  million_CD  ._. 
The_DT  comparable_JJ  year-earlier_JJ  number_NN  was_VBD  $_$  56_CD  million_CD  ,_,  a_DT  spokesman_NN  said_VBD  ._. 
The_DT  bank_NN  's_POS  additional_JJ  provisions_NNS  brought_VBD  reserves_NNS  for_IN  loans_NNS  to_TO  less-developed_JJ  countries_NNS  to_TO  $_$  2.4_CD  billion_CD  ,_,  covering_VBG  36_CD  %_NN  of_IN  its_PRP$  medium_NN  and_CC  long-term_JJ  loans_NNS  outstanding_JJ  to_TO  these_DT  nations_NNS  ._. 
The_DT  net_JJ  interest_NN  margin_NN  -_:  the_DT  difference_NN  between_IN  the_DT  bank_NN  's_POS  cost_NN  of_IN  funds_NNS  and_CC  what_WP  it_PRP  receives_VBZ  as_IN  interest_NN  payments_NNS  --_:  improved_VBN  in_IN  the_DT  quarter_NN  ,_,  as_IN  did_VBD  certain_JJ  areas_NNS  of_IN  wholesale_JJ  banking_NN  ._. 
Fees_NNS  from_IN  syndicating_VBG  loans_NNS  dropped_VBD  48_CD  %_NN  ,_,  to_TO  $_$  21_CD  million_CD  ._. 
``_``  We_PRP  did_VBD  n't_RB  take_VB  part_NN  in_IN  a_DT  lot_NN  of_IN  deals_NNS  ''_''  in_IN  the_DT  quarter_NN  ``_``  because_IN  their_PRP$  credit_NN  quality_NN  was_VBD  poor_JJ  ,_,  ''_''  the_DT  spokesman_NN  said_VBD  ._. 
Expenses_NNS  unrelated_JJ  to_TO  interest_VB  rose_VBD  5.4_CD  %_NN  ,_,  to_TO  $_$  541_CD  million_CD  ._. 
PNC_NNP  Financial_NNP 
PNC_NNP  Financial_NNP  cited_VBD  higher_JJR  income_NN  from_IN  sources_NNS  unrelated_JJ  to_TO  interest_VB  and_CC  said_VBD  it_PRP  continues_VBZ  to_TO  cut_VB  costs_NNS  ._. 
Net_JJ  interest_NN  income_NN  in_IN  the_DT  third_JJ  quarter_NN  edged_VBD  up_IN  1.4_CD  %_NN  ,_,  to_TO  $_$  317.7_CD  million_CD  ._. 
Trust_NN  income_NN  grew_VBD  15_CD  %_NN  ,_,  to_TO  $_$  49.9_CD  million_CD  ,_,  while_IN  service_NN  charges_NNS  ,_,  fees_NNS  and_CC  commissions_NNS  increased_VBN  22_CD  %_NN  ,_,  to_TO  $_$  79.4_CD  million_CD  ._. 
The_DT  bank_NN  's_POS  total_JJ  allowance_NN  for_IN  credit_NN  losses_NNS  was_VBD  $_$  502.1_CD  million_CD  ,_,  or_CC  1.82_CD  %_NN  of_IN  total_JJ  loans_NNS  ._. 
Prime_NNP  Minister_NNP  Rajiv_NNP  Gandhi_NNP  set_VBD  a_DT  date_NN  next_JJ  month_NN  for_IN  general_JJ  elections_NNS  that_IN  some_DT  analysts_NNS  say_VBP  could_MD  cost_VB  him_PRP  and_CC  his_PRP$  ruling_NN  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  Party_NNP  control_NN  of_IN  the_DT  government_NN  ._. 
Other_JJ  analysts_NNS  say_VBP  the_DT  Indian_NNP  leader_NN  could_MD  retain_VB  control_NN  with_IN  a_DT  slim_JJ  majority_NN  or_CC  be_VB  forced_VBN  to_TO  rule_VB  as_IN  the_DT  dominant_JJ  partner_NN  in_IN  a_DT  coalition_NN  with_IN  other_JJ  parties_NNS  ._. 
Elections_NNS  in_IN  this_DT  large_JJ  ,_,  diverse_JJ  and_CC  passionate_JJ  nation_NN  are_VBP  always_RB  hard_JJ  to_TO  predict_VB  ._. 
Much_RB  depends_VBZ  on_IN  the_DT  opposition_NN  ,_,  a_DT  loose_JJ  group_NN  of_IN  regional_JJ  and_CC  ideological_JJ  parties_NNS  led_VBN  by_IN  former_JJ  Gandhi_NNP  cabinet_NN  minister_NNP  Vishwanath_NNP  Pratap_NNP  Singh_NNP  ._. 
The_DT  biggest_JJS  certainty_NN  is_VBZ  that_IN  the_DT  elections_NNS  will_MD  be_VB  a_DT  vote_NN  for_IN  or_CC  against_IN  Mr._NNP  Gandhi_NNP  and_CC  his_PRP$  five_CD  years_NNS  in_IN  power_NN  --_:  five_CD  years_NNS  of_IN  ups_NNS  and_CC  downs_NNS  ,_,  promises_VBZ  and_CC  disappointments_NNS  and_CC  wide_JJ  fluctuations_NNS  in_IN  popularity_NN  ._. 
Yesterday_NN  ,_,  four_CD  days_NNS  after_IN  an_DT  unusual_JJ  parliamentary_JJ  defeat_NN  for_IN  the_DT  ruling_NN  party_NN  ,_,  Mr._NNP  Gandhi_NNP  called_VBD  elections_NNS  for_IN  the_DT  lower_JJR  house_NN  of_IN  Parliament_NNP  on_IN  Nov._NNP  22_CD  and_CC  24_CD  ._. 
The_DT  elections_NNS  will_MD  be_VB  held_VBN  in_IN  different_JJ  states_NNS  on_IN  one_CD  of_IN  the_DT  two_CD  days_NNS  ._. 
-LRB-_(  The_DT  lower_JJR  house_NN  's_POS  five-year_JJ  term_NN  expires_VBZ  in_IN  January_NNP  ;_:  the_DT  Parliament_NNP  's_POS  upper_JJ  house_NN  is_VBZ  appointed_VBN  ._.  -RRB-_) 
The_DT  elections_NNS  will_MD  be_VB  a_DT  rigorous_JJ  test_NN  for_IN  the_DT  45-year-old_JJ  prime_JJ  minister_NN  and_CC  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  ,_,  which_WDT  in_IN  various_JJ  forms_NNS  has_VBZ  ruled_VBN  for_IN  40_CD  of_IN  India_NNP  's_POS  42_CD  years_NNS  of_IN  independence_NN  ._. 
After_IN  a_DT  landslide_NN  win_NN  in_IN  1984_CD  in_IN  polls_NNS  held_VBN  after_IN  the_DT  assassination_NN  of_IN  his_PRP$  mother_NN  ,_,  Indira_NNP  Gandhi_NNP  ,_,  Mr._NNP  Gandhi_NNP  saw_VBD  his_PRP$  popularity_NN  begin_VB  a_DT  roller_NN  coaster_NN  ride_NN  ._. 
His_PRP$  early_JJ  promises_NNS  to_TO  make_VB  India_NNP  a_DT  modern_JJ  nation_NN  remain_VB  bogged_VBD  down_RB  in_IN  bloated_JJ  bureaucracy_NN  ._. 
His_PRP$  pledge_NN  to_TO  clean_VB  up_IN  local_JJ  administration_NN  and_CC  Indian_NNP  politics_NNS  ,_,  including_VBG  his_PRP$  own_JJ  party_NN  ,_,  went_VBD  unfulfilled_JJ  ._. 
His_PRP$  ``_``  Mr._NNP  Clean_NNP  ''_''  image_NN  was_VBD  muddied_VBN  by_IN  an_DT  arms-kickback_NN  scandal_NN  ,_,  which_WDT  will_MD  be_VB  a_DT  major_JJ  campaign_NN  issue_NN  ._. 
Some_DT  analysts_NNS  predict_VBP  that_DT  disappointment_NN  in_IN  Mr._NNP  Gandhi_NNP  's_POS  spent_VBD  pledge_NN  to_TO  reduce_VB  corruption_NN  and_CC  heavy-handed_JJ  local_JJ  government_NN  will_MD  crest_VB  at_IN  the_DT  polls_NNS  ._. 
``_``  There_EX  's_VBZ  a_DT  wide_JJ  feeling_NN  of_IN  indignation_NN  across_IN  the_DT  country_NN  ,_,  ''_''  says_VBZ  Bhabani_NNP  Sen_NNP  Gupta_NNP  of_IN  the_DT  Center_NNP  for_IN  Policy_NNP  Research_NNP  ,_,  in_IN  New_NNP  Delhi_NNP  ._. 
``_``  I_PRP  think_VBP  the_DT  people_NNS  will_MD  be_VB  judging_VBG  the_DT  regime_NN  by_IN  a_DT  petty_JJ  policeman_NN  ,_,  by_IN  a_DT  corrupt_JJ  revenue_NN  collector_NN  ._. 
This_DT  could_MD  be_VB  a_DT  big_JJ  protest_NN  against_IN  an_DT  administrative_JJ  failure_NN  ._.  ''_'' 
Even_RB  if_IN  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  retains_VBZ  control_NN  of_IN  the_DT  government_NN  ,_,  Mr._NNP  Gandhi_NNP  's_POS  ability_NN  to_TO  push_VB  through_IN  major_JJ  initiatives_NNS  might_MD  be_VB  hobbled_VBN  by_IN  a_DT  thinner_JJR  majority_NN  ._. 
Economic_JJ  analysts_NNS  call_VBP  his_PRP$  trail-blazing_JJ  liberalization_NN  of_IN  the_DT  Indian_NNP  economy_NN  incomplete_JJ  ,_,  and_CC  many_JJ  are_VBP  hoping_VBG  for_IN  major_JJ  new_JJ  liberalizations_NNS  if_IN  he_PRP  is_VBZ  returned_VBN  firmly_RB  to_TO  power_VB  ._. 
The_DT  Lok_NNP  Sabha_NNP  ,_,  or_CC  lower_JJR  house_NN  of_IN  Parliament_NNP  ,_,  has_VBZ  542_CD  elected_VBN  and_CC  two_CD  appointed_VBN  seats_NNS  ._. 
In_IN  1984_CD  ,_,  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  captured_VBN  405_CD  seats_NNS  ,_,  the_DT  largest_JJS  victory_NN  in_IN  the_DT  history_NN  of_IN  Indian_NNP  democracy_NN  ._. 
The_DT  landslide_NN  was_VBD  fueled_VBN  by_IN  panic_NN  that_WDT  prevailed_VBD  in_IN  India_NNP  at_IN  the_DT  time_NN  ._. 
Mrs._NNP  Gandhi_NNP  had_VBD  been_VBN  assassinated_VBN  by_IN  separatist_JJ  Sikhs_NNPS  ,_,  and_CC  many_JJ  Indians_NNPS  feared_VBD  their_PRP$  country_NN  might_MD  split_VB  apart_RB  ._. 
In_IN  the_DT  previous_JJ  three_CD  general_JJ  elections_NNS  ,_,  similar_JJ  national_JJ  issues_NNS  clinched_VBD  the_DT  vote_NN  ._. 
In_IN  1971_CD  ,_,  the_DT  Congress_NNP  Party_NNP  won_VBD  after_IN  India_NNP  's_POS  victory_NN  in_IN  the_DT  Bangladesh_NNP  war_NN  ._. 
In_IN  1977_CD  ,_,  Mrs._NNP  Gandhi_NNP  was_VBD  thrown_VBN  out_IN  of_IN  office_NN  after_IN  her_PRP$  19-month_JJ  emergency_NN  rule_NN  ,_,  and_CC  in_IN  1980_CD  ,_,  after_IN  her_PRP$  successors_NNS  made_VBD  a_DT  mess_NN  of_IN  their_PRP$  three_CD  years_NNS  in_IN  power_NN  ,_,  she_PRP  was_VBD  restored_VBN  to_TO  office_NN  ._. 
Most_JJS  political_JJ  analysts_NNS  say_VBP  that_IN  if_IN  Mr._NNP  Gandhi_NNP  's_POS  opposition_NN  unites_VBZ  to_TO  field_VB  single_JJ  candidates_NNS  in_IN  most_RBS  precincts_NNS  ,_,  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  will_MD  lose_VB  big_JJ  ._. 
But_CC  if_IN  the_DT  opposition_NN  remains_VBZ  fractured_VBN  ,_,  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  could_MD  win_VB  a_DT  small_JJ  majority_NN  ,_,  or_CC  lead_VB  a_DT  coalition_NN  government_NN  ._. 
Chimanbhai_NNP  Mehta_NNP  ,_,  a_DT  parliamentarian_NN  and_CC  former_JJ  Gandhi_NNP  ally_NN  ,_,  predicts_VBZ  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  will_MD  win_VB  only_RB  150_CD  seats_NNS  ,_,  a_DT  quarter_NN  of_IN  the_DT  house_NN  ,_,  if_IN  the_DT  opposition_NN  fields_VBZ  single_JJ  candidates_NNS  in_IN  80_CD  %_NN  of_IN  the_DT  races_NNS  ._. 
Analysts_NNS  say_VBP  the_DT  opposition_NN  will_MD  struggle_VB  this_DT  week_NN  to_TO  unite_VB  ,_,  and_CC  its_PRP$  success_NN  will_MD  be_VB  clear_JJ  only_RB  when_WRB  it_PRP  announces_VBZ  its_PRP$  final_JJ  list_NN  of_IN  parliamentary_JJ  candidates_NNS  ._. 
The_DT  arms-kickback_NN  scandal_NN  is_VBZ  likely_JJ  to_TO  be_VB  one_CD  of_IN  the_DT  big_JJ  talking_NN  points_NNS  in_IN  the_DT  campaign_NN  ,_,  but_CC  it_PRP  's_VBZ  unclear_JJ  how_WRB  it_PRP  is_VBZ  viewed_VBN  by_IN  average_JJ  Indian_NNP  voters_NNS  ._. 
In_IN  1986_CD  ,_,  India_NNP  signed_VBD  a_DT  $_$  1.4_CD  billion_CD  contract_NN  with_IN  AB_NNP  Bofors_NNP  ,_,  a_DT  unit_NN  of_IN  Nobel_NNP  Industries_NNP  Sweden_NNP  AB_NNP  ,_,  to_TO  purchase_VB  400_CD  artillery_NN  pieces_NNS  ._. 
The_DT  contract_NN  was_VBD  negotiated_VBN  by_IN  the_DT  countries_NNS  '_POS  two_CD  prime_JJ  ministers_NNS  ,_,  and_CC  was_VBD  supposed_VBN  to_TO  be_VB  free_JJ  of_IN  commissions_NNS  or_CC  agents_NNS  '_POS  costs_NNS  ._. 
In_IN  April_NNP  1987_CD  ,_,  evidence_NN  surfaced_VBD  that_IN  commissions_NNS  were_VBD  paid_VBN  ._. 
The_DT  opposition_NN  charged_VBN  that_IN  the_DT  money_NN  was_VBD  used_VBN  to_TO  bribe_VB  Indian_NNP  government_NN  officials_NNS  ,_,  an_DT  allegation_NN  denied_VBN  by_IN  Mr._NNP  Gandhi_NNP  's_POS  administration_NN  ._. 
But_CC  many_NN  of_IN  his_PRP$  statements_NNS  on_IN  the_DT  issue_NN  in_IN  Parliament_NNP  subsequently_RB  were_VBD  proven_VBN  wrong_JJ  by_IN  documentary_NN  evidence_NN  ._. 
The_DT  scandal_NN  has_VBZ  faded_VBN  and_CC  flared_VBN  ,_,  but_CC  recent_JJ  disclosures_NNS  propelled_VBN  it_PRP  back_RB  onto_IN  the_DT  front_NN  pages_NNS  ,_,  and_CC  that_DT  has_VBZ  helped_VBN  galvanize_VB  the_DT  opposition_NN  ,_,  which_WDT  last_JJ  week_NN  blocked_VBD  passage_NN  of_IN  two_CD  constitutional_JJ  amendment_NN  bills_NNS  ._. 
It_PRP  was_VBD  the_DT  first_JJ  time_NN  in_IN  20_CD  years_NNS  that_IN  such_JJ  government_NN  bills_NNS  were_VBD  defeated_VBN  ._. 
In_IN  a_DT  country_NN  where_WRB  a_DT  bribe_NN  is_VBZ  needed_VBN  to_TO  get_VB  a_DT  phone_NN  ,_,  a_DT  job_NN  ,_,  and_CC  even_RB  into_IN  a_DT  school_NN  ,_,  the_DT  name_NN  Bofors_NNP  has_VBZ  become_VBN  a_DT  potent_JJ  rallying_NN  cry_NN  against_IN  the_DT  government_NN  ._. 
That_DT  illustrates_VBZ  the_DT  kind_NN  of_IN  disappointment_NN  many_JJ  Indians_NNPS  feel_VBP  toward_IN  Mr._NNP  Gandhi_NNP  ,_,  whom_WP  they_PRP  zestfully_RB  elected_VBD  and_CC  enthusiastically_RB  supported_VBN  in_IN  his_PRP$  first_JJ  two_CD  years_NNS  in_IN  power_NN  ._. 
His_PRP$  term_NN  has_VBZ  produced_VBN  no_DT  spectacular_JJ  failures_NNS  in_IN  politics_NNS  ,_,  in_IN  the_DT  economy_NN  or_CC  on_IN  the_DT  military_JJ  front_NN  ,_,  and_CC  has_VBZ  chalked_VBN  up_IN  some_DT  successes_NNS  ._. 
But_CC  the_DT  average_JJ  Indian_NNP  had_VBD  tremendous_JJ  hope_NN  in_IN  the_DT  youthful_JJ  leader_NN  and_CC  his_PRP$  promise_NN  to_TO  make_VB  both_DT  government_NN  and_CC  the_DT  ruling_NN  party_NN  more_RBR  effective_JJ  and_CC  less_RBR  corrupt_JJ  ._. 
His_PRP$  failures_NNS  in_IN  those_DT  two_CD  areas_NNS  deeply_RB  ,_,  and_CC  sometimes_RB  bitterly_RB  ,_,  disappointed_VBN  many_JJ  Indians_NNPS  ._. 
``_``  We_PRP  do_VBP  n't_RB  like_IN  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  ,_,  ''_''  says_VBZ  Sooraji_NNP  Jath_NNP  ,_,  a_DT  farmer_NN  in_IN  the_DT  western_JJ  state_NN  of_IN  Gujarat_NN  ._. 
``_``  The_DT  Congress_NNP  government_NN  is_VBZ  taking_VBG  the_DT  farmers_NNS  '_POS  bread_NN  and_CC  not_RB  giving_VBG  us_PRP  any_DT  support_NN  ._. 
When_WRB  there_EX  are_VBP  well_JJ  problems_NNS  ,_,  light_NN  problems_NNS  ,_,  road_NN  problems_NNS  ,_,  the_DT  government_NN  tells_VBZ  us_PRP  to_TO  forget_VB  it_PRP  ._.  ''_'' 
The_DT  greatest_JJS  thing_NN  going_VBG  for_IN  Mr._NNP  Gandhi_NNP  and_CC  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  Party_NNP  is_VBZ  the_DT  poor_JJ  reputation_NN  of_IN  the_DT  opposition_NN  ._. 
Even_RB  if_IN  it_PRP  unites_VBZ  for_IN  the_DT  elections_NNS  ,_,  its_PRP$  coherence_NN  is_VBZ  likely_JJ  to_TO  be_VB  temporary_JJ  ._. 
When_WRB  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  lost_VBD  the_DT  1977_CD  election_NN  ,_,  following_VBG  Mrs._NNP  Gandhi_NNP  's_POS  hated_VBD  emergency_NN  rule_NN  ,_,  a_DT  similar_JJ  coalition_NN  took_VBD  power_NN  and_CC  then_RB  disintegrated_VBD  ._. 
Many_JJ  Indians_NNPS  fear_NN  a_DT  repeat_NN  of_IN  that_DT  experience_NN  ._. 
March_NNP  24_CD  ,_,  1986_CD  :_: 
AB_NNP  Bofors_NNP  ,_,  a_DT  unit_NN  of_IN  Nobel_NNP  Industries_NNP  Sweden_NNP  AB_NNP  ,_,  enters_VBZ  into_IN  a_DT  $_$  1.4_CD  billion_CD  contract_NN  with_IN  India_NNP  's_POS  Defense_NNP  Ministry_NNP  to_TO  supply_VB  400_CD  Bofors_NNP  FH-77B_NNP  155-mm_JJ  field_NN  howitzer_NN  guns_NNS  ._. 
In_IN  1985_CD  ,_,  Prime_NNP  Minister_NNP  Rajiv_NNP  Gandhi_NNP  ,_,  in_IN  his_PRP$  talks_NNS  with_IN  then_RB  Swedish_NNP  Prime_NNP  Minister_NNP  Olof_NNP  Palme_NNP  ,_,  imposed_VBD  the_DT  condition_NN  that_IN  the_DT  contract_NN  have_VBP  no_DT  middlemen_NNS  ._. 
April_NNP  16_CD  ,_,  1987_CD  :_: 
Swedish_NNP  National_NNP  Radio_NNP  reports_NNS  that_IN  about_RB  $_$  40_CD  million_CD  --_:  nearly_RB  3_CD  %_NN  of_IN  the_DT  total_JJ  contract_NN  --_:  was_VBD  paid_VBN  by_IN  Bofors_NNP  as_IN  commissions_NNS  to_TO  middlemen_NNS  ._. 
June_NNP  1_CD  ,_,  1987_CD  :_: 
Sweden_NNP  's_POS  National_NNP  Audit_NNP  Bureau_NNP  releases_NNS  its_PRP$  report_NN  confirming_VBG  payment_NN  of_IN  about_RB  $_$  40_CD  million_CD  to_TO  unidentified_JJ  Indians_NNPS  ._. 
The_DT  report_NN  says_VBZ  that_IN  investigations_NNS  were_VBD  severely_RB  hampered_VBN  by_IN  lack_NN  of_IN  cooperation_NN  from_IN  Bofors_NNP  ._. 
Bofors_NNP  says_VBZ  it_PRP  ca_MD  n't_RB  disclose_VB  the_DT  names_NNS  of_IN  the_DT  middlemen_NNS  because_IN  it_PRP  would_MD  jeopardize_VB  industrial_JJ  confidentiality_NN  ._. 
A_DT  portion_NN  of_IN  the_DT  report_NN  containing_VBG  names_NNS  of_IN  the_DT  middlemen_NNS  is_VBZ  withheld_VBN  by_IN  officials_NNS  citing_VBG  bank_NN  secrecy_NN  requirements_NNS  ._. 
Aug._NNP  6_CD  ,_,  1987_CD  :_: 
Prime_NNP  Minister_NNP  Gandhi_NNP  tells_VBZ  the_DT  Indian_NNP  Parliament_NNP  ,_,  ``_``  ..._:  neither_DT  I_PRP  nor_CC  any_DT  member_NN  of_IN  my_PRP$  family_NN  has_VBZ  received_VBN  any_DT  consideration_NN  in_IN  these_DT  transactions_NNS  ._. 
That_DT  is_VBZ  the_DT  truth_NN  ._.  ''_'' 
Aug._NNP  26_CD  ,_,  1987_CD  :_: 
Bofors_NNP  admits_VBZ  payments_NNS  of_IN  $_$  41_CD  million_CD  to_TO  middlemen_NNS  ._. 
April_NNP  22_CD  ,_,  1988_CD  :_: 
The_DT  Hindu_NNP  newspaper_NN  publishes_VBZ  facsimiles_NNS  of_IN  bank_NN  documents_NNS  for_IN  foreign-exchange_JJ  remittances_NNS  and_CC  letters_NNS  between_IN  Bofors_NNP  and_CC  certain_JJ  private_JJ  companies_NNS  related_VBN  to_TO  the_DT  sale_NN  of_IN  the_DT  guns_NNS  to_TO  India_NNP  ._. 
April_NNP  26_CD  ,_,  1988_CD  :_: 
A_DT  parliamentary_JJ  investigative_JJ  committee_NN  dominated_VBN  by_IN  the_DT  Congress_NNP  -LRB-_(  I_PRP  -RRB-_)  Party_NNP  concludes_VBZ  that_IN  there_EX  were_VBD  no_DT  middlemen_NNS  in_IN  the_DT  deal_NN  and_CC  no_DT  payment_NN  to_TO  any_DT  Indian_NNP  individual_NN  or_CC  company_NN  ._. 
July_NNP  18_CD  ,_,  1989_CD  :_: 
The_DT  comptroller_NN  and_CC  auditor-general_NN  of_IN  India_NNP  reports_VBZ  serious_JJ  lapses_NNS  in_IN  the_DT  government_NN  's_POS  technical_JJ  and_CC  financial_JJ  evaluation_NN  of_IN  the_DT  Bofors_NNP  deal_NN  ._. 
Sept._NNP  15_CD  ,_,  1989_CD  :_: 
Retired_JJ  army_NN  Chief_NNP  of_IN  Staff_NNP  Krishnaswami_NNP  Sundarji_NNP  discloses_VBZ  in_IN  an_DT  interview_NN  that_IN  he_PRP  suggested_VBD  in_IN  May_NNP  1987_CD  that_IN  the_DT  government_NN  cancel_NN  the_DT  Bofors_NNP  contract_NN  ._. 
According_VBG  to_TO  Gen._NNP  Sundarji_NNP  ,_,  that_WDT  would_MD  have_VB  forced_VBN  Bofors_NNP  to_TO  disclose_VB  the_DT  names_NNS  of_IN  the_DT  middlemen_NNS  who_WP  received_VBD  kickbacks_NNS  from_IN  the_DT  company_NN  ._. 
His_PRP$  recommendation_NN  was_VBD  rejected_VBN  by_IN  the_DT  government_NN  ._. 
Oct._NNP  9._CD  1989_CD  :_: 
The_DT  Hindu_NNP  newspaper_NN  publishes_VBZ  the_DT  withheld_VBN  portion_NN  of_IN  the_DT  Swedish_NNP  National_NNP  Audit_NNP  Bureau_NNP  's_POS  report_NN  ._. 
The_DT  disclosures_NNS  state_VBP  that_IN  commissions_NNS  were_VBD  paid_VBN  by_IN  Bofors_NNP  to_TO  an_DT  Indian_NNP  agent_NN  of_IN  the_DT  arms_NNS  company_NN  ._. 
Parsow_NNP  Partnership_NNP  Ltd._NNP  and_CC  Elkhorn_NNP  Partners_NNP  L.P._NNP  said_VBD  they_PRP  may_MD  seek_VB  proposals_NNS  from_IN  third_JJ  parties_NNS  relating_VBG  to_TO  a_DT  sale_NN  or_CC  restructuring_NN  of_IN  CACI_NNP  International_NNP  Inc_NNP  ._. 
In_IN  a_DT  filing_NN  with_IN  the_DT  Securities_NNP  and_CC  Exchange_NNP  Commission_NNP  ,_,  Parsow_NNP  and_CC  Elkhorn_NNP  ,_,  which_WDT  together_RB  hold_VB  8.685_CD  %_NN  of_IN  CACI_NNP  's_POS  common_JJ  shares_NNS  ,_,  said_VBD  they_PRP  think_VBP  it_PRP  is_VBZ  in_IN  the_DT  best_JJS  interest_NN  of_IN  CACI_NNP  stockholders_NNS  that_IN  the_DT  company_NN  be_VB  sold_VBN  ._. 
CACI_NNP  ,_,  based_VBN  in_IN  Arlington_NNP  ,_,  Va._NNP  ,_,  said_VBD  it_PRP  had_VBD  n't_RB  seen_VBN  the_DT  filing_NN  by_IN  Parsow_NNP  and_CC  Elkhorn_NNP  and_CC  therefore_RB  had_VBD  no_DT  comment_NN  ._. 
The_DT  partnerships_NNS  said_VBD  they_PRP  may_MD  seek_VB  board_NN  representation_NN  ,_,  and_CC  they_PRP  may_MD  seek_VB  the_DT  support_NN  of_IN  CACI_NNP  's_POS  board_NN  and_CC  other_JJ  major_JJ  shareholders_NNS  in_IN  connection_NN  with_IN  their_PRP$  plans_NNS  ._. 
According_VBG  to_TO  the_DT  filing_NN  ,_,  Parsow_NNP  and_CC  Elkhorn_NNP  are_VBP  based_VBN  in_IN  Elkhorn_NNP  ,_,  Neb._NNP  ,_,  and_CC  are_VBP  controlled_VBN  by_IN  the_DT  same_JJ  general_JJ  partner_NN  ,_,  Alan_NNP  S._NNP  Parsow_NNP  ._. 
Their_PRP$  combined_VBN  stake_NN  consists_VBZ  of_IN  880,500_CD  CACI_NNP  common_JJ  shares_NNS  ,_,  including_VBG  86,500_CD  shares_NNS  bought_VBD  in_IN  the_DT  past_JJ  60_CD  days_NNS  at_IN  $_$  2.3125_CD  to_TO  $_$  2.4375_CD  a_DT  share_NN  ._. 
Additional_JJ  shares_NNS  may_MD  be_VB  bought_VBN  or_CC  sold_VBN  in_IN  the_DT  open_JJ  market_NN  ,_,  in_IN  private_JJ  transactions_NNS  or_CC  otherwise_RB  ,_,  depending_VBG  on_IN  market_NN  conditions_NNS  and_CC  other_JJ  factors_NNS  ._. 
The_DT  inverse_JJ  trading_NN  relationship_NN  between_IN  bonds_NNS  and_CC  stocks_NNS  was_VBD  interrupted_VBN  yesterday_NN  as_IN  bonds_NNS  fell_VBD  despite_IN  a_DT  modest_JJ  decline_NN  in_IN  stock_NN  prices_NNS  ._. 
But_CC  bond_NN  investors_NNS  continue_VBP  to_TO  keep_VB  a_DT  close_NN  watch_NN  on_IN  the_DT  jittery_JJ  stock_NN  market_NN  ._. 
In_IN  early_JJ  trading_NN  ,_,  investors_NNS  were_VBD  bidding_NN  bond_NN  prices_NNS  higher_JJR  as_IN  stocks_NNS  tumbled_VBD  and_CC  fears_NNS  mounted_VBN  that_IN  Friday_NNP  's_POS  stock_NN  market_NN  debacle_NN  would_MD  be_VB  repeated_VBN  ._. 
But_CC  a_DT  partial_JJ  recovery_NN  in_IN  the_DT  Dow_NNP  Jones_NNP  Industrial_NNP  Average_NNP  ,_,  which_WDT  had_VBD  been_VBN  down_RB  more_JJR  than_IN  60_CD  points_NNS  in_IN  midmorning_NN  ,_,  dashed_VBD  those_DT  expectations_NNS  ._. 
Treasury_NN  bonds_NNS  also_RB  were_VBD  hurt_VBN  late_RB  in_IN  the_DT  day_NN  by_IN  a_DT  $_$  4_CD  billion_CD  offering_NN  by_IN  the_DT  Tennessee_NNP  Valley_NNP  Authority_NNP  and_CC  the_DT  prospect_NN  of_IN  a_DT  huge_JJ  amount_NN  of_IN  new_JJ  agency_NN  debt_NN  ._. 
``_``  Bond_NNP  investors_NNS  were_VBD  hoping_VBG  that_IN  stock_NN  prices_NNS  would_MD  continue_VB  to_TO  fall_VB  ,_,  ''_''  said_VBD  Roger_NNP  Early_NNP  ,_,  a_DT  vice_NN  president_NN  at_IN  Federated_NNP  Investors_NNP  Inc._NNP  ,_,  Pittsburgh_NNP  ._. 
``_``  When_WRB  stocks_NNS  stabilized_VBN  ,_,  that_WDT  was_VBD  a_DT  disappointment_NN  ._.  ''_'' 
Meanwhile_RB  ,_,  for_IN  the_DT  second_JJ  straight_JJ  day_NN  ,_,  the_DT  bond_NN  market_NN  paid_VBD  little_JJ  attention_NN  to_TO  the_DT  Federal_NNP  Reserve_NNP  's_POS  open_JJ  market_NN  operations_NNS  ._. 
Fed_JJ  officials_NNS  injected_VBN  more_JJR  cash_NN  into_IN  the_DT  banking_NN  system_NN  by_IN  arranging_VBG  $_$  1.5_CD  billion_CD  of_IN  repurchase_NN  agreements_NNS  during_IN  the_DT  usual_JJ  pre-noon_NN  intervention_NN  period_NN  ._. 
The_DT  move_NN  was_VBD  meant_VBN  to_TO  keep_VB  a_DT  lid_NN  on_IN  interest_NN  rates_NNS  and_CC  to_TO  boost_VB  investor_NN  confidence_NN  ._. 
``_``  The_DT  intervention_NN  has_VBZ  been_VBN  friendly_JJ  ,_,  meaning_NN  that_IN  they_PRP  really_RB  did_VBD  n't_RB  have_VB  to_TO  do_VB  it_PRP  ,_,  ''_''  said_VBD  Maria_NNP  Fiorini_NNP  Ramirez_NNP  ,_,  money-market_JJ  economist_NN  at_IN  Drexel_NNP  Burnham_NNP  Lambert_NNP  Inc_NNP  ._. 
She_PRP  said_VBD  a_DT  more_RBR  aggressive_JJ  move_NN  was_VBD  n't_RB  needed_VBN  ._. 
The_DT  Fed_NNP  also_RB  appears_VBZ  reluctant_JJ  to_TO  ease_VB  credit_NN  conditions_NNS  further_JJ  ._. 
It_PRP  already_RB  has_VBZ  allowed_VBN  the_DT  closely_RB  watched_VBN  federal_JJ  funds_NNS  rate_NN  to_TO  decline_VB  1\/4_CD  percentage_NN  point_NN  to_TO  about_IN  8_CD  3\/4_CD  %_NN  from_IN  its_PRP$  previous_JJ  target_NN  level_NN  of_IN  about_IN  9_CD  %_NN  ._. 
The_DT  rate_NN  ,_,  which_WDT  banks_NNS  charge_VBP  each_DT  other_NN  on_IN  overnight_JJ  loans_NNS  ,_,  is_VBZ  considered_VBN  an_DT  early_JJ  signal_NN  of_IN  changes_NNS  in_IN  Fed_NNP  policy_NN  ._. 
It_PRP  ended_VBD  at_IN  about_IN  8_CD  11\/16_CD  %_NN  yesterday_NN  ,_,  but_CC  was_VBD  as_RB  low_JJ  as_IN  8_CD  1\/2_CD  %_NN  Monday_NNP  ._. 
The_DT  Treasury_NNP  's_POS  benchmark_NN  30-year_JJ  bond_NN  fell_VBD  more_JJR  than_IN  1\/2_CD  point_NN  ,_,  or_CC  over_IN  $_$  5_NN  for_IN  each_DT  $_$  1,000_CD  face_NN  amount_NN  ,_,  while_IN  the_DT  yield_NN  moved_VBD  above_IN  8_CD  %_NN  for_IN  the_DT  first_JJ  time_NN  since_IN  Thursday_NNP  ._. 
Investment-grade_JJ  corporate_JJ  ,_,  municipal_JJ  and_CC  mortgage-backed_JJ  securities_NNS  also_RB  fell_VBD  ._. 
But_CC  most_RBS  junk_NN  bonds_NNS  closed_VBD  unchanged_JJ  after_IN  opening_NN  slightly_RB  higher_JJR  on_IN  bargain-hunting_NN  by_IN  institutional_JJ  investors_NNS  ._. 
Some_DT  so-called_JJ  high-quality_JJ  junk_NN  issues_NNS  ,_,  such_JJ  as_IN  R.H._NNP  Macy_NNP  &_CC  Co._NNP  's_POS  14_CD  1\/2_CD  %_NN  subordinated_VBD  debentures_NNS  ,_,  rose_VBD  ._. 
The_DT  Macy_NNP  's_POS  issue_NN  closed_VBD  up_IN  about_IN  one_CD  point_NN  at_IN  a_DT  bid_NN  price_NN  of_IN  97_CD  ._. 
The_DT  TVA_NNP  's_POS  public_JJ  debt_NN  offering_NN  was_VBD  its_PRP$  first_JJ  in_IN  15_CD  years_NNS  ._. 
Strong_JJ  investor_NN  demand_NN  prompted_VBD  it_PRP  to_TO  boost_VB  the_DT  size_NN  of_IN  the_DT  issue_NN  from_IN  $_$  3_CD  billion_CD  ._. 
Traders_NNS  said_VBD  hedging_VBG  related_VBN  to_TO  the_DT  TVA_NNP  pricing_NN  also_RB  pressured_VBD  Treasury_NNP  bonds_NNS  ._. 
``_``  Underwriters_NNS  of_IN  the_DT  TVA_NNP  bonds_NNS  reduced_VBD  their_PRP$  market_NN  risk_NN  by_IN  selling_VBG  Treasurys_NNPS  to_TO  cover_VB  at_IN  least_JJS  part_NN  of_IN  their_PRP$  -LCB-_(  TVA_NNP  -RCB-_)  holdings_NNS  ,_,  ''_''  said_VBD  James_NNP  R._NNP  Capra_NNP  ,_,  a_DT  senior_JJ  vice_NN  president_NN  at_IN  Shearson_NNP  Lehman_NNP  Government_NNP  Securities_NNP  Inc_NNP  ._. 
The_DT  TVA_NNP  bonds_NNS  also_RB  ``_``  served_VBN  to_TO  remind_VB  the_DT  market_NN  that_IN  there_EX  will_MD  be_VB  even_RB  more_RBR  new_JJ  supply_NN  ,_,  ''_''  said_VBD  Lawrence_NNP  N._NNP  Leuzzi_NNP  ,_,  a_DT  managing_VBG  director_NN  at_IN  S.G._NNP  Warburg_NNP  Securities_NNPS  &_CC  Co_NNP  ._. 
Today_NN  the_DT  Treasury_NNP  will_MD  announce_VB  the_DT  size_NN  of_IN  its_PRP$  next_JJ  two-year_JJ  note_NN  sale_NN  and_CC  Resolution_NNP  Funding_NNP  Corp._NNP  will_MD  announce_VB  details_NNS  of_IN  its_PRP$  first_JJ  bond_NN  offering_NN  ._. 
Some_DT  traders_NNS  estimate_VBP  $_$  9.75_CD  billion_CD  of_IN  new_JJ  two-year_JJ  Treasurys_NNPS  will_MD  be_VB  sold_VBN  next_JJ  week_NN  ,_,  and_CC  they_PRP  expect_VBP  Refcorp_NNP  to_TO  offer_VB  $_$  4_CD  billion_CD  to_TO  $_$  6_CD  billion_CD  of_IN  long-term_JJ  ``_``  bailout_NN  ''_''  bonds_NNS  ._. 
Refcorp_NNP  was_VBD  created_VBN  to_TO  help_VB  fund_VB  the_DT  thrift_NN  bailout_NN  ._. 
Another_DT  agency_NN  issue_NN  came_VBD  to_TO  market_VB  yesterday_NN  ._. 
The_DT  Office_NNP  of_IN  Finance_NNP  of_IN  the_DT  Federal_NNP  Home_NNP  Loan_NNP  Banks_NNP  said_VBD  it_PRP  priced_VBD  a_DT  four-part_JJ  $_$  2.27_CD  billion_CD  bond_NN  offering_NN  for_IN  the_DT  banks_NNS  to_TO  yield_VB  from_IN  8.125_CD  %_NN  to_TO  8.375_CD  %_NN  ._. 
The_DT  release_NN  of_IN  several_JJ  economic_JJ  reports_NNS  had_VBD  little_JJ  impact_NN  on_IN  the_DT  market_NN  ,_,  including_VBG  a_DT  report_NN  that_IN  the_DT  U.S._NNP  trade_NN  deficit_NN  expanded_VBN  to_TO  a_DT  surprisingly_RB  wide_JJ  $_$  10.77_CD  billion_CD  in_IN  August_NNP  ,_,  up_IN  from_IN  a_DT  revised_VBN  $_$  8.24_CD  billion_CD  in_IN  July_NNP  ._. 
The_DT  August_NNP  gap_NN  was_VBD  expected_VBN  to_TO  have_VB  expanded_VBN  to_TO  $_$  9.1_CD  billion_CD  ._. 
Treasury_NNP  Securities_NNPS 
Treasury_NN  securities_NNS  were_VBD  essentially_RB  flat_JJ  to_TO  about_IN  1\/2_CD  point_NN  lower_JJR  ._. 
The_DT  benchmark_NN  30-year_JJ  bond_NN  was_VBD  quoted_VBN  late_RB  at_IN  100_CD  28\/32_CD  to_TO  yield_VB  8.04_CD  %_NN  ,_,  compared_VBN  with_IN  101_CD  19\/32_CD  to_TO  yield_VB  7.97_CD  %_NN  Monday_NNP  ._. 
The_DT  latest_JJS  10-year_JJ  notes_NNS  were_VBD  quoted_VBN  late_RB  at_IN  99_CD  25\/32_CD  to_TO  yield_VB  8.01_CD  %_NN  ,_,  compared_VBN  with_IN  100_CD  1\/32_CD  to_TO  yield_VB  7.97_CD  %_NN  ._. 
Short-term_JJ  rates_NNS  increased_VBN  ._. 
The_DT  discount_NN  rate_NN  on_IN  three-month_JJ  bills_NNS  rose_VBD  to_TO  7.52_CD  %_NN  for_IN  a_DT  bond-equivalent_JJ  yield_NN  of_IN  7.75_CD  %_NN  ._. 
The_DT  rate_NN  on_IN  six-month_JJ  bills_NNS  rose_VBD  to_TO  7.53_CD  %_NN  for_IN  a_DT  bond-equivalent_JJ  yield_NN  of_IN  7.92_CD  %_NN  ._. 
Corporate_JJ  ,_,  Other_JJ  Issues_NNS 
Investment-grade_JJ  corporate_JJ  bonds_NNS  ended_VBD  1\/4_CD  to_TO  1\/2_CD  point_NN  lower_JJR  ,_,  while_IN  most_RBS  junk_NN  bonds_NNS  ended_VBD  unchanged_JJ  ._. 
The_DT  TVA_NNP  's_POS  huge_JJ  $_$  4_CD  billion_CD  offering_NN  dominated_VBD  attention_NN  in_IN  the_DT  new-issue_JJ  market_NN  ._. 
TVA_NNP  offered_VBD  $_$  2_CD  billion_CD  of_IN  30-year_JJ  bonds_NNS  priced_VBN  to_TO  yield_VB  9.06_CD  %_NN  ;_:  $_$  1_CD  billion_CD  in_IN  10-year_JJ  notes_NNS  priced_VBN  to_TO  yield_VB  8.42_CD  %_NN  ;_:  and_CC  $_$  1_CD  billion_CD  in_IN  five-year_JJ  notes_NNS  priced_VBN  to_TO  yield_VB  8.33_CD  %_NN  ._. 
The_DT  TVA_NNP  ,_,  which_WDT  operates_VBZ  one_CD  of_IN  the_DT  nation_NN  's_POS  largest_JJS  electric_JJ  power_NN  systems_NNS  ,_,  is_VBZ  a_DT  corporation_NN  wholly_RB  owned_VBD  by_IN  the_DT  U.S._NNP  government_NN  ._. 
Yesterday_NN  's_POS  bond_NN  sale_NN  was_VBD  part_NN  of_IN  a_DT  $_$  6.7_CD  billion_CD  refinancing_NN  plan_NN  to_TO  pay_VB  off_IN  high-interest_JJ  debt_NN  the_DT  TVA_NNP  owes_VBZ  the_DT  Federal_NNP  Financing_NNP  Bank_NNP  ,_,  an_DT  arm_NN  of_IN  the_DT  Treasury_NNP  ._. 
Meanwhile_RB  ,_,  Lockheed_NNP  Corp._NNP  priced_VBD  a_DT  $_$  300_CD  million_CD  note_NN  offering_NN  to_TO  yield_VB  9.39_CD  %_NN  ._. 
Mortgage-Backed_JJ  Securities_NNPS 
The_DT  derivative_JJ  mortgage-backed_JJ  market_NN  revived_VBN  after_IN  a_DT  brief_JJ  hiatus_NN  as_IN  two_CD  new_JJ  Remics_NNS  totaling_VBG  $_$  850_CD  million_CD  were_VBD  offered_VBN  and_CC  talk_VB  circulated_VBD  about_IN  two_CD  more_JJR  issues_NNS  that_WDT  could_MD  be_VB  priced_VBN  today_NN  ._. 
The_DT  revival_NN  of_IN  the_DT  real_JJ  estate_NN  mortgage_NN  investment_NN  conduit_NN  market_NN  reflected_VBD  the_DT  relative_JJ  calm_NN  in_IN  the_DT  mortgage_NN  market_NN  after_IN  two_CD  days_NNS  of_IN  volatile_JJ  trading_NN  ._. 
Dealers_NNS  noted_VBD  that_IN  it_PRP  's_VBZ  difficult_JJ  to_TO  structure_VB  new_JJ  Remics_NNS  when_WRB  prices_NNS  are_VBP  moving_VBG  widely_RB  ._. 
The_DT  two_CD  Remics_NNS  priced_VBN  were_VBD  a_DT  $_$  500_CD  million_CD  Federal_NNP  Home_NNP  Loan_NNP  Mortgage_NNP  Corp._NNP  issue_NN  underwritten_VBN  by_IN  Salomon_NNP  Brothers_NNP  Inc._NNP  and_CC  a_DT  $_$  350_CD  million_CD  Federal_NNP  National_NNP  Mortgage_NNP  Association_NNP  deal_NN  underwritten_VBN  by_IN  Greenwich_NNP  Capital_NNP  Markets_NNPS  ._. 
The_DT  Remic_NNP  issuance_NN  supported_VBD  prices_NNS  of_IN  Freddie_NNP  Mac_NNP  and_CC  Fannie_NNP  Mae_NNP  securities_NNS  ,_,  which_WDT  held_VBD  up_IN  better_JJR  than_IN  Government_NNP  National_NNP  Mortgage_NNP  Association_NNP  securities_NNS  during_IN  an_DT  afternoon_NN  sell-off_NN  ._. 
Ginnie_NNP  Mae_NNP  9_CD  %_NN  securities_NNS  for_IN  November_NNP  delivery_NN  ended_VBD  at_IN  97_CD  29\/32_CD  ,_,  down_RB  7\/32_CD  ;_:  9_CD  1\/2_CD  %_NN  securities_NNS  at_IN  99_CD  31\/32_CD  ,_,  down_RB  6\/32_CD  ;_:  and_CC  10_CD  %_NN  securities_NNS  at_IN  101_CD  29\/32_CD  ,_,  down_RB  5\/32_CD  ._. 
Freddie_NNP  Mac_NNP  9_CD  %_NN  securities_NNS  were_VBD  at_IN  97_CD  5\/32_CD  ,_,  down_RB  3\/32_CD  ._. 
The_DT  Ginnie_NNP  Mae_NNP  9_CD  %_NN  issue_NN  was_VBD  yielding_VBG  9.43_CD  %_NN  to_TO  a_DT  12-year_JJ  average_JJ  life_NN  assumption_NN  ,_,  as_IN  the_DT  spread_NN  above_IN  the_DT  Treasury_NNP  10-year_JJ  note_NN  held_VBN  at_IN  1.42_CD  percentage_NN  points_NNS  ._. 
Municipals_NNS 
Confusion_NN  over_IN  the_DT  near-term_JJ  trend_NN  for_IN  rates_NNS  dominated_VBD  the_DT  municipal_JJ  arena_NN  ,_,  as_IN  gyrations_NNS  in_IN  the_DT  stock_NN  market_NN  continued_VBD  to_TO  buffet_VB  bonds_NNS  ._. 
Long_NNP  tax-exempt_JJ  dollar_NN  bonds_NNS  were_VBD  mostly_RB  flat_JJ  to_TO  3\/8_CD  point_NN  lower_JJR  after_IN  a_DT  whipsaw_JJ  session_NN  of_IN  moving_VBG  inversely_RB  to_TO  stocks_NNS  in_IN  modest_JJ  dealer-led_JJ  trading_NN  ._. 
Prices_NNS  of_IN  pre-refunded_JJ  municipal_JJ  bonds_NNS  were_VBD  capped_VBN  by_IN  news_NN  that_IN  Chemical_NNP  Securities_NNP  Inc._NNP  ,_,  as_IN  agent_NN  for_IN  a_DT  customer_NN  ,_,  will_MD  accept_VB  bids_NNS  today_NN  for_IN  two_CD  large_JJ  lists_NNS  of_IN  bonds_NNS  that_WDT  include_VBP  many_JJ  such_JJ  issues_NNS  ._. 
The_DT  lists_NNS  total_JJ  $_$  654.5_CD  million_CD  ._. 
Pre-refunded_JJ  bonds_NNS  are_VBP  called_VBN  at_IN  their_PRP$  earliest_JJS  call_NN  date_NN  with_IN  the_DT  escrowed_VBN  proceeds_NNS  of_IN  another_DT  bond_NN  issue_NN  ._. 
Meanwhile_RB  ,_,  several_JJ  new_JJ  issues_NNS  were_VBD  priced_VBN  ._. 
Underwriters_NNS  led_VBN  by_IN  PaineWebber_NNP  Inc._NNP  set_VBD  preliminary_JJ  pricing_NN  for_IN  $_$  144.4_CD  million_CD  of_IN  California_NNP  Health_NNP  Facilities_NNP  Financing_NNP  Authority_NNP  revenue_NN  bonds_NNS  for_IN  Kaiser_NNP  Permanente_NNP  ._. 
Tentative_JJ  reoffering_NN  yields_NNS  were_VBD  set_VBN  from_IN  6.25_CD  %_NN  in_IN  1993_CD  to_TO  7.227_CD  %_NN  in_IN  2018_CD  ._. 
As_IN  part_NN  of_IN  its_PRP$  College_NNP  Savings_NNP  Plan_NNP  ,_,  Connecticut_NNP  offered_VBD  $_$  100.4_CD  million_CD  of_IN  general_JJ  obligation_NN  capital_NN  appreciation_NN  bonds_NNS  priced_VBN  to_TO  yield_VB  to_TO  maturity_NN  from_IN  6.25_CD  %_NN  in_IN  1994_CD  to_TO  6.90_CD  %_NN  in_IN  2006_CD  ,_,  2007_CD  and_CC  2009_CD  ._. 
A_DT  Chemical_NNP  Securities_NNPS  group_NN  won_VBD  a_DT  $_$  100_CD  million_CD  Oregon_NNP  general_JJ  obligation_NN  veterans_NNS  '_POS  tax_NN  note_NN  issue_NN  due_JJ  Nov._NNP  1_CD  ,_,  1990_CD  ._. 
The_DT  6_CD  3\/4_CD  %_NN  notes_NNS  yield_VBP  6.25_CD  %_NN  ._. 
Foreign_JJ  Bonds_NNS 
West_JJ  German_JJ  government_NN  bond_NN  prices_NNS  took_VBD  a_DT  wild_JJ  roller-coaster_NN  ride_NN  ,_,  pulled_VBD  down_RB  by_IN  Monday_NNP  's_POS  U.S._NNP  stock_NN  market_NN  gains_NNS  then_RB  up_IN  by_IN  a_DT  wider-than-expected_JJ  U.S._NNP  trade_NN  deficit_NN  and_CC  falling_VBG  U.S._NNP  stock_NN  prices_NNS  ._. 
West_NNP  Germany_NNP  's_POS  7_CD  %_NN  bond_NN  due_JJ  October_NNP  1999_CD  was_VBD  at_IN  99.95_CD  late_JJ  yesterday_NN  ,_,  off_IN  0.10_CD  point_NN  from_IN  Monday_NNP  ,_,  to_TO  yield_VB  7.01_CD  %_NN  ._. 
The_DT  6_CD  3\/4_CD  %_NN  notes_NNS  due_JJ  April_NNP  1994_CD  were_VBD  up_IN  0.10_CD  point_NN  to_TO  97.85_CD  to_TO  yield_VB  7.31_CD  %_NN  ._. 
British_JJ  government_NN  bonds_NNS  surged_VBD  on_IN  renewed_VBN  volatility_NN  in_IN  the_DT  stock_NN  market_NN  ._. 
The_DT  Treasury_NNP  11_CD  3\/4_CD  %_NN  bond_NN  due_JJ  2003\/2007_CD  rose_VBD  23\/32_CD  to_TO  112_CD  10\/32_CD  to_TO  yield_VB  10.03_CD  %_NN  ._. 
But_CC  Japanese_JJ  bonds_NNS  ended_VBD  weaker_JJR  ._. 
The_DT  benchmark_NN  No._NN  111_CD  4.6_CD  %_NN  bond_NN  due_JJ  1998_CD  ended_VBD  on_IN  brokers_NNS  '_POS  screens_NNS  at_IN  a_DT  price_NN  of_IN  96_CD  ,_,  off_IN  0.15_CD  point_NN  to_TO  yield_VB  5.27_CD  %_NN  ._. 
A_DT  House-Senate_NNP  conference_NN  approved_VBD  an_DT  estimated_VBN  $_$  67_CD  billion_CD  fiscal_JJ  1990_CD  spending_NN  bill_NN  that_WDT  provides_VBZ  a_DT  28_CD  %_NN  increase_NN  for_IN  space_NN  research_NN  and_CC  development_NN  and_CC  incorporates_VBZ  far-reaching_JJ  provisions_NNS  affecting_VBG  the_DT  federal_JJ  mortgage_NN  market_NN  ._. 
The_DT  current_JJ  ceiling_NN  on_IN  home_NN  loans_NNS  insured_VBN  by_IN  the_DT  Federal_NNP  Housing_NNP  Administration_NNP  would_MD  be_VB  increased_VBN  to_TO  $_$  124,875_CD  ._. 
Separately_RB  ,_,  the_DT  bill_NN  gives_VBZ  authority_NN  to_TO  the_DT  Bush_NNP  administration_NN  to_TO  facilitate_VB  the_DT  refinancing_NN  of_IN  federally_RB  subsidized_JJ  loans_NNS  for_IN  low-income_JJ  and_CC  moderate-income_JJ  homeowners_NNS  ._. 
The_DT  second_JJ  provision_NN  ,_,  affecting_VBG  so-called_JJ  235_CD  mortgages_NNS  ,_,  has_VBZ  met_VBN  strong_JJ  opposition_NN  from_IN  investment_NN  bankers_NNS  represented_VBN  by_IN  the_DT  Public_NNP  Securities_NNP  Association_NNP  ._. 
And_CC  a_DT  squad_NN  of_IN  influential_JJ  former_JJ  Senate_NNP  aides_NNS  employed_VBN  by_IN  the_DT  Wall_NNP  Street_NNP  firm_NN  Salomon_NNP  Brothers_NNPS  came_VBD  to_TO  the_DT  Capitol_NNP  in_IN  a_DT  vain_JJ  attempt_NN  to_TO  strip_VB  the_DT  provision_NN  ._. 
By_IN  an_DT  11-2_JJ  margin_NN  ,_,  Senate_NNP  negotiators_NNS  voted_VBD  to_TO  preserve_VB  the_DT  235_CD  mortgage_NN  refinancing_NN  plan_NN  ,_,  and_CC  despite_IN  powerful_JJ  allies_NNS  ,_,  the_DT  opposition_NN  found_VBD  itself_PRP  undercut_VBP  by_IN  an_DT  unusual_JJ  alliance_NN  of_IN  liberals_NNS  and_CC  conservatives_NNS  ._. 
The_DT  government_NN  currently_RB  is_VBZ  subsidizing_VBG  an_DT  estimated_VBN  23,000_CD  loans_NNS  above_IN  11_CD  %_NN  under_IN  the_DT  235_CD  program_NN  ,_,  and_CC  however_RB  disruptive_JJ  to_TO  private_JJ  investors_NNS  ,_,  the_DT  refinancing_NN  is_VBZ  expected_VBN  to_TO  yield_VB  at_IN  least_JJS  $_$  15_CD  million_CD  in_IN  savings_NNS  in_IN  fiscal_JJ  1990_CD  ._. 
This_DT  sum_NN  has_VBZ  been_VBN  guarded_VBN  jealously_RB  by_IN  appropriators_NNS  anxious_JJ  to_TO  offset_VB  spending_NN  elsewhere_RB  ,_,  and_CC  conservative_JJ  Sen._NNP  Phil_NNP  Gramm_NNP  cast_NN  the_DT  fight_NN  as_IN  a_DT  populist_JJ  stand_NN  against_IN  monied_JJ  interests_NNS  ._. 
``_``  We_PRP  are_VBP  stewards_NNS  here_RB  ,_,  not_RB  of_IN  the_DT  mortgage_NN  companies_NNS  ,_,  but_CC  the_DT  taxpayers_NNS  ,_,  ''_''  said_VBD  the_DT  Texas_NNP  Republican_NNP  ._. 
The_DT  action_NN  came_VBD  as_IN  the_DT  administration_NN  won_VBD  final_JJ  congressional_JJ  approval_NN  of_IN  $_$  9_CD  million_CD  in_IN  assistance_NN  for_IN  elections_NNS  scheduled_VBN  in_IN  Nicaragua_NNP  in_IN  February_NNP  ._. 
The_DT  bulk_NN  of_IN  the_DT  money_NN  would_MD  be_VB  funneled_VBN  through_IN  the_DT  National_NNP  Endowment_NNP  for_IN  Democracy_NNP  ,_,  but_CC  the_DT  legislation_NN  is_VBZ  so_RB  vaguely_RB  written_VBN  that_IN  it_PRP  has_VBZ  been_VBN  dogged_VBN  by_IN  questions_NNS  regarding_VBG  the_DT  money_NN  's_POS  true_JJ  purpose_NN  and_CC  its_PRP$  ultimate_JJ  destination_NN  ._. 
The_DT  Senate_NNP  had_VBD  refused_VBN  late_JJ  Friday_NNP  to_TO  invoke_VB  cloture_NN  and_CC  limit_NN  debate_NN  ,_,  but_CC  behind_IN  the_DT  bipartisan_JJ  leadership_NN  ,_,  a_DT  solid_JJ  majority_NN  took_VBD  shape_NN  yesterday_NN  and_CC  brushed_VBD  aside_RB  amendments_NNS  seeking_VBG  to_TO  cut_VB  the_DT  total_JJ  package_NN  or_CC  steer_VB  it_PRP  away_RB  from_IN  direct_JJ  aid_NN  to_TO  political_JJ  parties_NNS  ._. 
Final_JJ  approval_NN  --_:  on_IN  a_DT  64-35_JJ  roll_NN  call_NN  --_:  was_VBD  never_RB  in_IN  doubt_NN  ,_,  but_CC  the_DT  opposition_NN  drew_VBD  an_DT  unusual_JJ  mix_NN  of_IN  senators_NNS  ,_,  including_VBG  Republicans_NNP  Jesse_NNP  Helms_NNP  and_CC  Warren_NNP  Rudman_NNP  and_CC  Democrats_NNP  Bill_NNP  Bradley_NNP  and_CC  John_NNP  Glenn_NNP  ._. 
The_DT  money_NN  will_MD  be_VB  applied_VBN  for_IN  voter_NN  registration_NN  and_CC  election_NN  monitoring_NN  ,_,  but_CC  more_JJR  than_IN  half_NN  is_VBZ  likely_JJ  to_TO  go_VB  to_TO  the_DT  Union_NNP  Nacional_NNP  Opositora_NNP  party_NN  ._. 
Critics_NNS  warned_VBD  such_JJ  cash_NN  contributions_NNS  may_MD  only_RB  undercut_VB  the_DT  opposition_NN  party_NN  's_POS  standing_VBG  ,_,  and_CC  one_CD  irony_NN  is_VBZ  that_IN  under_IN  Nicaraguan_JJ  law_NN  a_DT  major_JJ  portion_NN  of_IN  the_DT  opposition_NN  party_NN  's_POS  funds_NNS  must_MD  be_VB  shared_VBN  with_IN  the_DT  government_NN  's_POS  Supreme_NNP  Electoral_NNP  Council_NNP  ._. 
Within_IN  the_DT  appropriations_NNS  conference_NN  yesterday_NN  ,_,  the_DT  $_$  67_CD  billion_CD  measure_NN  is_VBZ  the_DT  second_JJ  largest_JJS  of_IN  the_DT  annual_JJ  domestic_JJ  spending_NN  bills_NNS  and_CC  covers_VBZ  a_DT  disparate_JJ  collection_NN  of_IN  accounts_NNS  for_IN  science_NN  ,_,  housing_NN  ,_,  veterans_NNS  and_CC  the_DT  environment_NN  ._. 
The_DT  decision_NN  to_TO  raise_VB  the_DT  ceiling_NN  on_IN  FHA_NNP  home_NN  loans_NNS  still_RB  faces_VBZ  strong_JJ  opposition_NN  in_IN  the_DT  House_NNP  ._. 
But_CC  it_PRP  is_VBZ  driven_VBN  by_IN  the_DT  same_JJ  fiscal_JJ  pressures_NNS  that_WDT  have_VBP  forced_VBN  lawmakers_NNS  to_TO  resort_VB  to_TO  various_JJ  bookkeeping_NN  devices_NNS  to_TO  juggle_VB  as_RB  much_JJ  as_IN  $_$  1_CD  billion_CD  in_IN  spending_NN  that_WDT  would_MD  otherwise_RB  put_VB  the_DT  bill_NN  over_IN  budget_NN  ._. 
These_DT  costs_NNS  will_MD  complicate_VB  the_DT  budget_NN  picture_NN  in_IN  fiscal_JJ  1991_CD  ,_,  and_CC  the_DT  measure_NN  further_JJ  commits_VBZ  Congress_NNP  to_TO  a_DT  set_NN  of_IN  costly_JJ  projects_NNS  ,_,  including_VBG  the_DT  first_JJ  construction_NN  funds_NNS  for_IN  the_DT  space_NN  station_NN  ._. 
The_DT  station_NN  is_VBZ  promised_VBN  $_$  1.8_CD  billion_CD  within_IN  the_DT  $_$  5.36_CD  billion_CD  provided_VBN  for_IN  research_NN  and_CC  development_NN  in_IN  the_DT  National_NNP  Aeronautics_NNP  and_CC  Space_NNP  Administration_NNP  ,_,  and_CC  the_DT  nation_NN  's_POS  high-speed_JJ  aerospace_NN  plane_NN  --_:  cut_VB  by_IN  the_DT  Senate_NNP  --_:  could_MD  receive_VB  as_RB  much_JJ  as_IN  $_$  60_CD  million_CD  in_IN  new_JJ  funds_NNS  or_CC  transfers_NNS  ._. 
Similarly_RB  ,_,  the_DT  House_NNP  agreed_VBD  to_TO  add_VB  back_RB  $_$  62_CD  million_CD  to_TO  continue_VB  work_NN  on_IN  the_DT  advanced_VBN  communications_NNS  technology_NN  satellite_NN  ,_,  being_VBG  developed_VBN  by_IN  General_NNP  Electric_NNP  Co_NNP  ._. 
And_CC  while_IN  setting_VBG  a_DT  statutory_JJ  limit_NN  of_IN  $_$  1.6_CD  billion_CD  on_IN  the_DT  automated_VBN  space_NN  probe_NN  ,_,  the_DT  conference_NN  appropriated_VBN  $_$  30_CD  million_CD  for_IN  the_DT  start-up_NN  of_IN  the_DT  CRAF-Cassini_NNP  mission_NN  ,_,  a_DT  successor_NN  to_TO  the_DT  Voyager_NNP  space_NN  probe_NN  ._. 
Among_IN  major_JJ  domestic_JJ  agencies_NNS  ,_,  the_DT  Environmental_NNP  Protection_NNP  Agency_NNP  stands_VBZ  to_TO  receive_VB  increases_NNS  significantly_RB  beyond_IN  those_DT  sought_VBN  by_IN  the_DT  administration_NN  ,_,  with_IN  pollution_NN  abatement_NN  and_CC  control_NN  accounts_NNS  growing_VBG  by_IN  14_CD  %_NN  to_TO  about_RB  $_$  829.9_CD  million_CD  ._. 
An_DT  estimated_VBN  $_$  1.57_CD  billion_CD  is_VBZ  separately_RB  allocated_VBN  for_IN  the_DT  National_NNP  Science_NNP  Foundation_NNP  ,_,  and_CC  within_IN  the_DT  Housing_NNP  and_CC  Urban_NNP  Development_NNP  Department_NNP  ,_,  more_JJR  than_IN  $_$  9.2_CD  billion_CD  is_VBZ  provided_VBN  for_IN  federally_RB  assisted_VBN  housing_NN  ,_,  including_VBG  an_DT  expanded_VBN  effort_NN  to_TO  modernize_VB  public_JJ  housing_NN  units_NNS  that_WDT  serve_VBP  the_DT  poorest_JJS  families_NNS  ._. 
To_TO  an_DT  unusual_JJ  degree_NN  ,_,  the_DT  massive_JJ  bill_NN  has_VBZ  become_VBN  a_DT  vehicle_NN  for_IN  lawmakers_NNS  to_TO  earmark_VB  funds_NNS  for_IN  projects_NNS  in_IN  home_NN  states_NNS  ._. 
While_IN  the_DT  practice_NN  was_VBD  discouraged_VBN  in_IN  the_DT  past_NN  ,_,  the_DT  conference_NN  agreement_NN  is_VBZ  laced_VBN  with_IN  veterans_NNS  '_POS  hospitals_NNS  ,_,  environmental_JJ  projects_NNS  and_CC  urban_JJ  grants_NNS  designated_VBN  for_IN  specific_JJ  communities_NNS  ._. 
The_DT  most_RBS  striking_JJ  example_NN  yesterday_NN  may_MD  have_VB  been_VBN  in_IN  community_NN  development_NN  funds_NNS  ,_,  where_WRB  the_DT  two_CD  houses_NNS  had_VBD  separately_RB  approved_VBN  a_DT  total_NN  of_IN  27_CD  projects_NNS  valued_VBN  at_IN  $_$  20_CD  million_CD  ,_,  and_CC  the_DT  conference_NN  added_VBD  15_CD  more_RBR  valued_VBN  at_IN  $_$  8_CD  million_CD  to_TO  ostensibly_RB  preserve_VB  ``_``  balance_NN  ''_''  between_IN  the_DT  House_NNP  and_CC  Senate_NNP  ._. 
Yesterday_NN  's_POS  conference_NN  agreement_NN  is_VBZ  the_DT  second_JJ  major_JJ  bill_NN  to_TO  emerge_VB  from_IN  negotiations_NNS  this_DT  week_NN  ,_,  as_IN  appropriators_NNS  approved_VBD  a_DT  fiscal_JJ  1990_CD  transportation_NN  bill_NN  late_JJ  Monday_NNP  that_WDT  includes_VBZ  a_DT  sweeping_VBG  ban_NN  on_IN  smoking_NN  on_IN  most_RBS  domestic_JJ  airline_NN  flights_NNS  ._. 
An_DT  exemption_NN  will_MD  remain_VB  for_IN  flights_NNS  longer_RB  than_IN  six_CD  hours_NNS  to_TO  Hawaii_NNP  and_CC  Alaska_NNP  ,_,  but_CC  estimates_NNS  by_IN  the_DT  tobacco_NN  industry_NN  yesterday_NN  indicate_VB  all_DT  but_CC  about_IN  30_CD  flights_NNS  would_MD  be_VB  covered_VBN  ._. 
Separately_RB  ,_,  a_DT  third_JJ  conference_NN  report_NN  covering_VBG  an_DT  $_$  18.4_CD  billion_CD  Treasury_NNP  and_CC  Postal_NNP  Service_NNP  bill_NN  was_VBD  sent_VBN  to_TO  the_DT  Senate_NNP  after_IN  passing_VBG  the_DT  House_NNP  on_IN  a_DT  383-30_JJ  roll_NN  call_NN  yesterday_NN  ._. 
And_CC  after_IN  weeks_NNS  of_IN  delay_NN  ,_,  the_DT  appropriations_NNS  process_VBP  is_VBZ  beginning_VBG  to_TO  take_VB  some_DT  final_JJ  shape_NN  ._. 
Defense_NNP  and_CC  foreign_JJ  aid_NN  are_VBP  the_DT  two_CD  most_RBS  critical_JJ  areas_NNS  remaining_VBG  from_IN  the_DT  administration_NN  's_POS  standpoint_NN  ._. 
And_CC  among_IN  domestic_JJ  programs_NNS  ,_,  the_DT  most_RBS  serious_JJ  threat_NN  is_VBZ  White_NNP  House_NNP  opposition_NN  to_TO  abortion_NN  riders_NNS  attached_VBN  to_TO  separate_VB  bills_NNS  funding_VBG  the_DT  District_NNP  of_IN  Columbia_NNP  and_CC  Department_NNP  of_IN  Health_NNP  and_CC  Human_NNP  Services_NNP  ._. 
The_DT  same_JJ  issue_NN  threatens_VBZ  to_TO  spill_VB  over_IN  to_TO  the_DT  foreign_JJ  aid_NN  debate_NN  ,_,  and_CC  Mr._NNP  Bush_NNP  also_RB  is_VBZ  threatening_VBG  to_TO  veto_VB  any_DT  agreement_NN  that_WDT  preserves_VBZ  Senate-passed_JJ  provisions_NNS  renewing_VBG  U.S._NNP  support_NN  for_IN  the_DT  United_NNP  Nations_NNP  Fund_NNP  for_IN  Population_NNP  Activities_NNP  ._. 
In_IN  a_DT  sharply_RB  written_VBN  letter_NN  ,_,  Rep._NNP  David_NNP  Obey_NNP  ,_,  chairman_NN  of_IN  the_DT  House_NNP  appropriations_NNS  subcommittee_NN  for_IN  foreign_JJ  operations_NNS  ,_,  warned_VBD  Mr._NNP  Bush_NNP  that_IN  the_DT  result_NN  of_IN  his_PRP$  ``_``  ultimatum_NN  ''_''  could_MD  weaken_VB  efforts_NNS  to_TO  accommodate_VB  the_DT  administration_NN  elsewhere_RB  ._. 
``_``  As_IN  a_DT  result_NN  of_IN  your_PRP$  ultimatum_NN  ,_,  ''_''  writes_VBZ  the_DT  Wisconsin_NNP  Democrat_NNP  ,_,  ``_``  I_PRP  guess_VBP  there_EX  is_VBZ  no_RB  longer_RB  any_DT  point_NN  in_IN  taking_VBG  administration_NN  views_NNS  into_IN  account_NN  on_IN  other_JJ  items_NNS  in_IN  conference_NN  ,_,  inasmuch_RB  regardless_RB  of_IN  their_PRP$  resolution_NN  you_PRP  apparently_RB  intend_VBP  to_TO  veto_VB  this_DT  bill_NN  ._. 
Markets_NNS  usually_RB  get_VB  noticed_VBD  because_IN  they_PRP  soar_VBP  or_CC  plunge_NN  ._. 
Gold_NNP  ,_,  which_WDT  has_VBZ  n't_RB  risen_VBN  or_CC  fallen_VBN  significantly_RB  in_IN  quite_RB  some_DT  time_NN  ,_,  yesterday_NN  achieved_VBN  what_WP  may_MD  be_VB  a_DT  new_JJ  level_NN  of_IN  impassiveness_NN  :_:  The_DT  most_RBS  actively_RB  traded_VBN  futures_NNS  contracts_NNS  closed_VBD  unchanged_JJ  despite_IN  nervous_JJ  fluctuations_NNS  in_IN  both_DT  the_DT  dollar_NN  and_CC  the_DT  stock_NN  market_NN  ._. 
The_DT  settlement_NN  prices_NNS  of_IN  the_DT  December_NNP  ,_,  February_NNP  and_CC  April_NNP  gold_NN  contracts_NNS  were_VBD  even_RB  with_IN  Monday_NNP  's_POS  final_JJ  prices_NNS  ._. 
The_DT  December_NNP  1989_CD  contract_NN  ,_,  which_WDT  has_VBZ  the_DT  greatest_JJS  trading_NN  volume_NN  ,_,  ended_VBD  at_IN  $_$  371.20_CD  an_DT  ounce_NN  ._. 
The_DT  other_JJ  months_NNS  posted_VBD  advances_NNS  of_IN  10_CD  cents_NNS  to_TO  20_CD  cents_NNS  an_DT  ounce_NN  ._. 
According_VBG  to_TO  one_CD  analyst_NN  ,_,  Bernard_NNP  Savaiko_NNP  of_IN  PaineWebber_NNP  ,_,  New_NNP  York_NNP  ,_,  the_DT  stock_NN  market_NN  's_POS  ability_NN  on_IN  Monday_NNP  to_TO  rally_VB  from_IN  last_JJ  Friday_NNP  's_POS  decline_NN  --_:  which_WDT  seemed_VBD  to_TO  indicate_VB  that_IN  the_DT  economy_NN  was_VBD  n't_RB  going_VBG  to_TO  fall_VB  either_DT  --_:  took_VBD  the_DT  starch_NN  out_IN  of_IN  precious_JJ  metals_NNS  prices_NNS  ,_,  and_CC  out_IN  of_IN  gold_NN  's_POS  ,_,  in_IN  particular_NN  ._. 
Yesterday_NN  ,_,  gold_NN  traded_VBN  within_IN  a_DT  narrow_JJ  range_NN  ._. 
Gold_NNP  tried_VBD  to_TO  rally_VB  on_IN  Monday_NNP  but_CC  ran_VBD  into_IN  the_DT  same_JJ  situation_NN  that_WDT  has_VBZ  subdued_VBN  gold_NN  prices_NNS  for_IN  more_JJR  than_IN  a_DT  year_NN  :_:  selling_VBG  by_IN  gold_NN  producers_NNS  ,_,  who_WP  want_VBP  to_TO  fix_VB  the_DT  highest_JJS  possible_JJ  price_NN  for_IN  their_PRP$  gold_NN  ._. 
``_``  December_NNP  delivery_NN  gold_NN  is_VBZ  trading_VBG  in_IN  a_DT  range_NN  of_IN  $_$  365_CD  to_TO  $_$  375_CD  -LCB-_(  an_DT  ounce_NN  -RCB-_)  and_CC  is_VBZ  having_VBG  difficulty_NN  breaking_VBG  out_IN  above_IN  that_DT  ,_,  ''_''  Mr._NNP  Savaiko_NNP  said_VBD  ._. 
``_``  Producers_NNS  at_IN  the_DT  moment_NN  regard_NN  that_DT  area_NN  a_DT  good_JJ  one_CD  in_IN  which_WDT  to_TO  sell_VB  gold_NN  ._.  ''_'' 
Also_RB  ,_,  Mr._NNP  Savaiko_NNP  noted_VBD  ,_,  stock_NN  market_NN  investors_NNS  seeking_VBG  greater_JJR  safety_NN  are_VBP  veering_VBG  toward_IN  buying_VBG  bonds_NNS  rather_RB  than_IN  precious_JJ  metals_NNS  because_IN  ``_``  we_PRP  are_VBP  tending_VBG  more_JJR  toward_IN  a_DT  disinflationary_JJ  economy_NN  that_WDT  does_VBZ  n't_RB  make_VB  gold_NN  and_CC  precious_JJ  metals_NNS  attractive_JJ  ._.  ''_'' 
Jeffrey_NNP  Nichols_NNP  ,_,  president_NN  of_IN  APMS_NNP  Canada_NNP  ,_,  Toronto_NNP  precious_JJ  metals_NNS  advisers_NNS  ,_,  said_VBD  there_EX  is_VBZ  little_JJ  to_TO  motivate_VB  gold_NN  traders_NNS  to_TO  buy_VB  the_DT  metal_NN  ._. 
``_``  Investors_NNS  in_IN  the_DT  U.S._NNP  and_CC  Europe_NNP  are_VBP  comfortable_JJ  with_IN  the_DT  actions_NNS  of_IN  the_DT  -LCB-_(  Federal_NNP  Reserve_NNP  -RCB-_)  in_IN  its_PRP$  willingness_NN  to_TO  supply_VB  liquidity_NN  to_TO  financial_JJ  system_NN  ,_,  which_WDT  helped_VBD  the_DT  stock_NN  market_NN  rebound_NN  on_IN  Monday_NNP  ,_,  ''_''  he_PRP  said_VBD  ._. 
There_EX  is_VBZ  n't_RB  any_DT  rush_NN  on_IN  the_DT  part_NN  of_IN  investors_NNS  in_IN  the_DT  West_NNP  to_TO  buy_VB  gold_NN  ,_,  he_PRP  said_VBD  ._. 
``_``  They_PRP  still_RB  bear_VBP  the_DT  memory_NN  of_IN  October_NNP  1987_CD  ,_,  when_WRB  they_PRP  bought_VBD  gold_NN  after_IN  the_DT  stock_NN  market_NN  crashed_VBD  and_CC  ended_VBD  up_IN  losing_VBG  money_NN  because_IN  gold_NN  prices_NNS  subsequently_RB  fell_VBD  ,_,  ''_''  Mr._NNP  Nichols_NNP  said_VBD  ._. 
``_``  It_PRP  's_VBZ  an_DT  experience_NN  they_PRP  do_VBP  n't_RB  want_VB  to_TO  repeat_VB  ._.  ''_'' 
At_IN  the_DT  moment_NN  gold_NN  traders_NNS  are_VBP  n't_RB  concerned_VBN  about_IN  inflation_NN  ,_,  he_PRP  said_VBD  ,_,  and_CC  as_IN  for_IN  the_DT  dollar_NN  ,_,  ``_``  gold_NN  's_POS  association_NN  with_IN  the_DT  currency_NN  has_VBZ  been_VBN  diminishing_VBG  recently_RB  so_RB  drops_VBZ  in_IN  the_DT  currency_NN  are_VBP  n't_RB  having_VBG  much_JJ  impact_NN  on_IN  gold_NN  ._.  ''_'' 
Dinsa_NNP  Mehta_NNP  ,_,  chief_JJ  bullion_NN  trader_NN  for_IN  Chase_NNP  Manhattan_NNP  Bank_NNP  ,_,  said_VBD  :_:  ``_``  There_EX  is_VBZ  little_JJ  incentive_NN  on_IN  the_DT  part_NN  of_IN  traders_NNS  to_TO  sell_VB  gold_NN  because_IN  the_DT  stock_NN  market_NN  may_MD  go_VB  lower_JJR  and_CC  gold_NN  may_MD  retain_VB  some_DT  of_IN  its_PRP$  `_``  flight_NN  to_TO  safety_VB  '_POS  quality_NN  ._. 
There_EX  is_VBZ  little_JJ  incentive_NN  to_TO  buy_VB  gold_NN  because_IN  if_IN  the_DT  stock_NN  market_NN  goes_VBZ  higher_JJR  ,_,  it_PRP  may_MD  be_VB  just_RB  a_DT  false_JJ  alarm_NN  ._. 
This_DT  is_VBZ  keeping_VBG  the_DT  gold_NN  traders_NNS  handcuffed_VBN  ._.  ''_'' 
The_DT  most_RBS  remarkable_JJ  feature_NN  about_IN  yesterday_NN  's_POS  action_NN  was_VBD  that_IN  the_DT  price_NN  of_IN  roughly_RB  $_$  370_CD  an_DT  ounce_NN  was_VBD  regarded_VBN  as_IN  attractive_JJ  enough_RB  by_IN  gold_NN  producers_NNS  around_IN  the_DT  world_NN  to_TO  aggressively_RB  sell_VB  gold_NN  ,_,  Mr._NNP  Mehta_NNP  said_VBD  ._. 
``_``  I_PRP  do_VBP  n't_RB  know_VB  what_WP  it_PRP  means_VBZ  over_IN  the_DT  long_JJ  run_NN  ,_,  but_CC  for_IN  the_DT  short_JJ  term_NN  ,_,  it_PRP  appears_VBZ  that_IN  gold_NN  producers_NNS  are_VBP  grateful_JJ  for_IN  the_DT  $_$  10_CD  or_CC  so_RB  that_DT  gold_NN  has_VBZ  risen_VBN  over_IN  the_DT  past_JJ  week_NN  or_CC  so_RB  ,_,  ''_''  he_PRP  said_VBD  ._. 
Previously_RB  ,_,  he_PRP  noted_VBD  ,_,  gold_NN  producers_NNS  tended_VBD  to_TO  back_RB  off_IN  from_IN  a_DT  rising_VBG  gold_NN  market_NN  ,_,  letting_VBG  prices_NNS  rise_VBP  as_RB  much_JJ  as_IN  possible_JJ  before_IN  selling_VBG  ._. 
Mr._NNP  Mehta_NNP  observed_VBD  that_IN  the_DT  U.S._NNP  merchandise_NN  trade_NN  deficit_NN  ,_,  which_WDT  rose_VBD  sharply_RB  in_IN  August_NNP  ,_,  according_VBG  to_TO  yesterday_NN  's_POS  report_NN  ,_,  has_VBZ  been_VBN  having_VBG  less_JJR  and_CC  less_JJR  impact_NN  on_IN  the_DT  gold_NN  market_NN  ._. 
``_``  The_DT  dollar_NN  has_VBZ  n't_RB  reacted_VBN  much_JJ  to_TO  it_PRP  ,_,  so_RB  gold_NN  has_VBZ  n't_RB  either_DT  ,_,  ''_''  he_PRP  said_VBD  ._. 
In_IN  other_JJ  commodity_NN  markets_NNS  yesterday_NN  :_: 
ENERGY_NN  :_: 
Crude_JJ  oil_NN  prices_NNS  rose_VBD  slightly_RB  in_IN  lackluster_JJ  activity_NN  as_IN  traders_NNS  in_IN  the_DT  pits_NNS  tried_VBD  to_TO  assess_VB  action_NN  in_IN  the_DT  stock_NN  market_NN  ._. 
Since_IN  stock_NN  market_NN  indexes_NNS  plummeted_VBD  last_JJ  Friday_NNP  ,_,  participants_NNS  in_IN  all_DT  markets_NNS  have_VBP  been_VBN  wary_JJ  ._. 
When_WRB  traders_NNS  become_VBP  confident_JJ  that_IN  the_DT  stock_NN  market_NN  has_VBZ  stabilized_VBN  ,_,  oil_NN  prices_NNS  are_VBP  expected_VBN  to_TO  rise_VB  as_IN  supply_NN  and_CC  demand_NN  fundamentals_NNS  once_RB  again_RB  become_VB  the_DT  major_JJ  consideration_NN  ._. 
Crude_JJ  oil_NN  for_IN  November_NNP  delivery_NN  edged_VBD  up_IN  by_IN  16_CD  cents_NNS  a_DT  barrel_NN  to_TO  $_$  20.75_CD  a_DT  barrel_NN  ._. 
Heating_NN  oil_NN  prices_NNS  also_RB  rose_VBD  ._. 
November_NNP  gasoline_NN  slipped_VBD  slightly_RB  ._. 
SUGAR_NN  :_: 
Futures_NNS  prices_NNS  rose_VBD  on_IN  a_DT  report_NN  that_IN  Cuba_NNP  may_MD  seek_VB  to_TO  postpone_VB  some_DT  sugar_NN  shipments_NNS  ._. 
The_DT  March_NNP  contract_NN  advanced_VBD  0.14_CD  cent_NN  a_DT  pound_NN  to_TO  14.11_CD  cents_NNS  ._. 
According_VBG  to_TO  an_DT  analyst_NN  ,_,  Cuba_NNP  ca_MD  n't_RB  meet_VB  all_DT  its_PRP$  shipment_NN  commitments_NNS  and_CC  has_VBZ  asked_VBN  Japan_NNP  to_TO  accept_VB  a_DT  delay_NN  of_IN  shipments_NNS  scheduled_VBN  for_IN  later_RB  this_DT  year_NN  ,_,  into_IN  early_JJ  next_JJ  year_NN  ._. 
``_``  Japan_NNP  is_VBZ  perceived_VBN  as_IN  a_DT  wealthy_JJ  nation_NN  that_WDT  can_MD  turn_VB  elsewhere_RB  in_IN  the_DT  world_NN  market_NN  and_CC  buy_VB  the_DT  sugar_NN  ,_,  ''_''  the_DT  analyst_NN  said_VBD  ._. 
It_PRP  was_VBD  the_DT  possibility_NN  of_IN  this_DT  demand_NN  that_WDT  helped_VBD  firm_NN  prices_NNS  ,_,  the_DT  analyst_NN  said_VBD  ._. 
Another_DT  analyst_NN  noted_VBD  that_IN  Cuba_NNP  has_VBZ  been_VBN  deferring_VBG  shipments_NNS  in_IN  recent_JJ  years_NNS  ._. 
``_``  To_TO  the_DT  professionals_NNS  in_IN  the_DT  trade_NN  it_PRP  did_VBD  n't_RB  cause_VB  much_JJ  surprise_NN  ._. 
The_DT  March_NNP  futures_NNS  contract_VBP  traded_VBN  as_RB  high_JJ  as_IN  14.24_CD  cents_NNS  ,_,  but_CC  could_MD  n't_RB  sustain_VB  the_DT  advance_NN  ,_,  ''_''  he_PRP  said_VBD  ._. 
LIVESTOCK_NNP  AND_CC  MEATS_NNPS  :_: 
The_DT  prices_NNS  of_IN  cattle_NNS  ,_,  hogs_NNS  and_CC  pork_NN  belly_NN  futures_NNS  contracts_NNS  rebounded_VBD  as_IN  livestock_NN  traders_NNS  shook_VBD  off_IN  fears_NNS  that_IN  the_DT  Friday_NNP  stock_NN  market_NN  plunge_NN  would_MD  chill_VB  consumer_NN  spending_NN  ,_,  which_WDT  in_IN  turn_NN  would_MD  hurt_VB  retail_JJ  sales_NNS  of_IN  beef_NN  and_CC  pork_NN  ._. 
The_DT  prices_NNS  of_IN  most_RBS  livestock_NN  futures_NNS  contracts_NNS  had_VBD  dropped_VBN  sharply_RB  Monday_NNP  ._. 
Cattle_NNS  futures_NNS  prices_NNS  were_VBD  also_RB  supported_VBN  yesterday_NN  by_IN  signs_VBZ  that_IN  supermarket_NN  chains_NNS  are_VBP  making_VBG  plans_NNS  to_TO  increase_VB  their_PRP$  promotions_NNS  concerning_VBG  beef_NN  ._. 
GRAINS_NNS  AND_CC  SOYBEANS_NNS  :_: 
The_DT  prices_NNS  of_IN  most_RBS  soybean_NN  and_CC  soybean-meal_NN  futures_NNS  contracts_NNS  rose_VBD  amid_IN  rumors_NNS  that_IN  the_DT  Soviet_NNP  Union_NNP  is_VBZ  interested_JJ  in_IN  buying_VBG  from_IN  the_DT  U.S._NNP  or_CC  South_NNP  America_NNP  about_IN  250,000_CD  metric_JJ  tons_NNS  of_IN  soybeans_NNS  and_CC  as_RB  many_JJ  as_IN  400,000_CD  metric_JJ  tons_NNS  of_IN  soybean_NN  meal_NN  ._. 
Traders_NNS  are_VBP  especially_RB  sensitive_JJ  to_TO  reports_NNS  of_IN  possible_JJ  U.S._NNP  soybean_NN  sales_NNS  because_IN  U.S._NNP  exports_NNS  are_VBP  lagging_VBG  ._. 
Since_IN  Sept._NNP  1_CD  ,_,  about_IN  13_CD  million_CD  fewer_JJR  bushels_NNS  of_IN  U.S._NNP  soybeans_NNS  have_VBP  been_VBN  sold_VBN  overseas_JJ  than_IN  for_IN  the_DT  same_JJ  period_NN  last_JJ  year_NN  ._. 
Corn_NN  futures_NNS  prices_NNS  rose_VBD  slightly_RB  while_IN  wheat_NN  prices_NNS  settled_VBD  mixed_VBN  ._. 
Moody_NNP  's_POS  Investors_NNP  Service_NNP  Inc._NNP  ,_,  fretting_VBG  about_IN  increasing_VBG  competitive_JJ  pressure_NN  on_IN  Ryder_NNP  ,_,  placed_VBD  about_RB  $_$  2.8_CD  billion_CD  in_IN  company_NN  securities_NNS  under_IN  review_NN  for_IN  possible_JJ  downgrade_NN  ._. 
Ratings_NNS  under_IN  review_NN  are_VBP  Ryder_NNP  's_POS  A-1_JJ  collateral_NN  trust_NN  debentures_NNS  ,_,  A-2_NN  senior_JJ  notes_NNS  and_CC  bonds_NNS  ,_,  A-2_NN  preferred_JJ  stock_NN  and_CC  the_DT  company_NN  's_POS  Prime-1_JJ  rating_NN  for_IN  commercial_JJ  paper_NN  ._. 
Moody_NNP  's_POS  said_VBD  it_PRP  is_VBZ  assessing_VBG  the_DT  strategies_NNS  Ryder_NNP  's_POS  management_NN  may_MD  follow_VB  in_IN  addressing_VBG  significant_JJ  challenges_NNS  in_IN  some_DT  major_JJ  markets_NNS  ._. 
The_DT  rating_NN  agency_NN  said_VBD  it_PRP  is_VBZ  focusing_VBG  especially_RB  on_IN  the_DT  transportation_NN  service_NN  company_NN  's_POS  efforts_NNS  to_TO  control_VB  costs_NNS  ,_,  improve_VB  margins_NNS  and_CC  enhance_VB  its_PRP$  competitive_JJ  position_NN  in_IN  its_PRP$  primary_JJ  business_NN  ,_,  vehicle_NN  leasing_NN  and_CC  rental_JJ  ._. 
The_DT  nations_NNS  of_IN  southern_JJ  Africa_NNP  know_VB  a_DT  lot_NN  about_IN  managing_VBG  elephants_NNS  ;_:  their_PRP$  herds_NNS  are_VBP  thriving_VBG  ._. 
But_CC  the_DT  nations_NNS  of_IN  Europe_NNP  and_CC  North_NNP  America_NNP  have_VBP  decided_VBN  they_PRP  know_VBP  better_JJR  ._. 
At_IN  this_DT  week_NN  's_POS  U.N._NNP  conference_NN  in_IN  Lausanne_NNP  ,_,  they_PRP  imposed_VBD  a_DT  global_JJ  ivory_NN  ban_NN  that_WDT  seeks_VBZ  to_TO  overturn_VB  local_JJ  policies_NNS  ._. 
A_DT  Zimbabwean_NNP  delegate_NN  argued_VBD  that_IN  the_DT  ban_NN  would_MD  ``_``  guarantee_VB  the_DT  extinction_NN  of_IN  the_DT  elephant_NN  ._.  ''_'' 
Legitimate_JJ  ranchers_NNS  ,_,  who_WP  have_VBP  an_DT  interest_NN  in_IN  preserving_VBG  the_DT  herds_NNS  ,_,  would_MD  go_VB  out_IN  of_IN  business_NN  ._. 
Poachers_NNS  would_MD  control_VB  the_DT  underground_JJ  trade_NN  ._. 
Many_JJ  delegates_NNS  were_VBD  willing_JJ  to_TO  craft_VB  a_DT  compromise_NN  ,_,  but_CC  U.S._NNP  delegate_NN  Constance_NNP  Harriman_NNP  and_CC  others_NNS  thundered_VBD  that_DT  down_RB  ._. 
The_DT  Greens_NNPS  from_IN  the_DT  First_NNP  World_NNP  wanted_VBD  a_DT  morality_NN  play_NN  ,_,  not_RB  a_DT  negotiation_NN  ._. 
Fortunately_RB  ,_,  the_DT  nations_NNS  of_IN  southern_JJ  Africa_NNP  have_VBP  n't_RB  totally_RB  surrendered_VBD  their_PRP$  sovereignty_NN  ._. 
Five_CD  countries_NNS  announced_VBD  they_PRP  would_MD  not_RB  honor_VB  what_WP  one_CD  Zimbabwean_NNP  delegate_NN  wryly_RB  called_VBD  the_DT  ``_``  made_VBN  in_IN  Switzerland_NNP  ''_''  solution_NN  ._. 
In_IN  fact_NN  ,_,  they_PRP  seemed_VBD  a_DT  mite_NN  resentful_JJ  ._. 
The_DT  director_NN  of_IN  Zimbabwe_NNP  's_POS  Wildlife_NNP  Department_NNP  described_VBD  American_JJ  conservationists_NNS  as_IN  ``_``  fat_JJ  little_JJ  puppies_NNS  from_IN  urban_JJ  environments_NNS  who_WP  do_VBP  n't_RB  know_VB  a_DT  thing_NN  about_IN  Africa_NNP  ._.  ''_'' 
That_DT  's_VBZ  not_RB  fair_JJ  ;_:  they_PRP  're_VBP  not_RB  all_DT  fat_NN  ._. 
HUGO'S_NNP  BLAST_NN  generates_VBZ  pleas_NNS  for_IN  aid_NN  from_IN  South_NNP  Carolina_NNP  small_JJ  businesses_NNS  ._. 
The_DT  Small_NNP  Business_NNP  Administration_NNP  has_VBZ  received_VBN  more_JJR  than_IN  5,000_CD  formal_JJ  requests_NNS  for_IN  disaster_NN  loans_NNS  because_IN  of_IN  the_DT  hurricane_NN  ._. 
About_IN  45_CD  %_NN  of_IN  requests_NNS  for_IN  SBA_NNP  relief_NN  loans_NNS  ,_,  which_WDT  also_RB  are_VBP  available_JJ  to_TO  homeowners_NNS  ,_,  come_VB  from_IN  small_JJ  businesses_NNS  ,_,  compared_VBN  with_IN  a_DT  25_CD  %_NN  business_NN  share_NN  after_IN  most_RBS  disasters_NNS  ._. 
The_DT  SBA_NNP  expects_VBZ  to_TO  make_VB  about_RB  $_$  1_CD  billion_CD  in_IN  Hurricane_NNP  Hugo_NNP  loans_NNS  ._. 
The_DT  disaster_NN  fund_NN  is_VBZ  replenished_VBN  by_IN  loan_NN  repayments_NNS  ._. 
Hardest_RBS  hit_VBN  by_IN  Hugo_NNP  in_IN  South_NNP  Carolina_NNP  were_VBD  small_JJ  retailers_NNS  tied_VBN  to_TO  the_DT  tourist_NN  industry_NN  and_CC  businesses_NNS  in_IN  agriculture_NN  and_CC  cultivated_VBN  seafood_NN  ._. 
The_DT  State_NNP  Development_NNP  Board_NNP  set_VBD  up_IN  a_DT  Hugo_NNP  Hotline_NNP  to_TO  accept_VB  business-to-business_JJ  help_NN  ._. 
After_IN  NBC_NNP  weather_NN  man_NN  Willard_NNP  Scott_NNP  broadcast_NN  the_DT  hot-line_NN  number_NN  ,_,  it_PRP  was_VBD  flooded_VBN  with_IN  10,000_CD  calls_VBZ  ._. 
Last_JJ  week_NN  ,_,  the_DT  U.S._NNP  Chamber_NNP  of_IN  Commerce_NNP  began_VBD  using_VBG  its_PRP$  national_JJ  TV_NN  show_NN  to_TO  seek_VB  help_NN  ,_,  such_JJ  as_IN  equipment_NN  ,_,  for_IN  business_NN  owners_NNS  ._. 
Local_JJ  bankers_NNS  and_CC  accountants_NNS  help_VBP  applicants_NNS  fill_VBP  out_IN  forms_NNS  ._. 
``_``  It_PRP  helps_VBZ  us_PRP  ,_,  and_CC  people_NNS  feel_VBP  better_JJR  talking_VBG  to_TO  someone_NN  who_WP  's_VBZ  gone_VBN  through_IN  the_DT  same_JJ  thing_NN  ,_,  ''_''  an_DT  SBA_NNP  official_NN  says_NNS  ._. 
HEALTH_NN  BENEFITS_NNS  remain_VBP  a_DT  central_JJ  lobbying_NN  effort_NN  ,_,  even_RB  as_IN  Section_NN  89_CD  fades_NNS  ._. 
The_DT  Senate_NNP  ,_,  after_IN  deleting_VBG  Section_NN  89_CD  repeal_NN  from_IN  its_PRP$  deficit-reduction_NN  bill_NN  ,_,  still_RB  is_VBZ  expected_VBN  to_TO  join_VB  the_DT  House_NNP  in_IN  voting_NN  to_TO  kill_VB  the_DT  law_NN  ,_,  which_WDT  forces_VBZ  companies_NNS  to_TO  provide_VB  comparable_JJ  benefits_NNS  to_TO  laborers_NNS  and_CC  executives_NNS  alike_RB  ._. 
In_IN  lobbying_VBG  on_IN  other_JJ  health-coverage_NN  topics_NNS  ,_,  the_DT  National_NNP  Federation_NNP  of_IN  Independent_NNP  Business_NNP  will_MD  press_VB  for_IN  legislation_NN  that_WDT  would_MD  give_VB  self-employed_JJ  people_NNS  a_DT  100_CD  %_NN  tax_NN  deduction_NN  for_IN  their_PRP$  own_JJ  health_NN  plans_NNS  ,_,  up_IN  from_IN  25_CD  %_NN  currently_RB  ._. 
And_CC  the_DT  group_NN  will_MD  urge_VB  that_IN  the_DT  federal_JJ  government_NN  pre-empt_VB  state_NN  rules_NNS  on_IN  what_WP  must_MD  be_VB  covered_VBN  by_IN  employers_NNS  '_POS  health_NN  insurance_NN  ._. 
Small-business_NN  groups_NNS  also_RB  will_MD  fight_VB  the_DT  medical-leave_JJ  provision_NN  of_IN  legislation_NN  that_WDT  would_MD  expand_VB  parental_JJ  leaves_NNS  ._. 
And_CC  they_PRP  still_RB  oppose_VBP  as_IN  too_RB  costly_JJ  an_DT  employer-paid_JJ  health_NN  insurance_NN  bill_NN  sponsored_VBN  by_IN  Sen._NNP  Edward_NNP  Kennedy_NNP  -LRB-_(  D._NNP  ,_,  Mass_NNP  ._.  -RRB-_)  despite_IN  his_PRP$  proposal_NN  to_TO  phase_VB  in_IN  small_JJ  business_NN  only_RB  gradually_RB  ._. 
There_EX  is_VBZ  also_RB  worry_VB  that_IN  the_DT  Pepper_NNP  Commission_NNP  studying_VBG  long-term_JJ  health_NN  care_NN  will_MD  again_RB  push_VB  lawmakers_NNS  toward_IN  employerpaid_JJ  solutions_NNS  ._. 
The_DT  Section_NN  89_CD  victory_NN  could_MD  have_VB  a_DT  downside_NN  by_IN  making_VBG  it_PRP  harder_JJR  to_TO  oppose_VB  lawmakers_NNS  on_IN  other_JJ  health_NN  proposals_NNS  ._. 
``_``  With_IN  the_DT  repeal_NN  of_IN  Section_NN  89_CD  ,_,  we_PRP  can_MD  no_RB  longer_RB  say_VB  they_PRP  're_VBP  discouraging_VBG  businesses_NNS  from_IN  offering_NN  health_NN  plans_NNS  ,_,  ''_''  says_VBZ  Christine_NNP  Russell_NNP  ,_,  the_DT  Chamber_NNP  of_IN  Commerce_NNP  's_POS  small-business_NN  advocate_NN  ._. 
JUMPING_NNP  THE_DT  GUN_NNP  :_: 
Sen._NNP  Lloyd_NNP  Bentsen_NNP  -LRB-_(  D._NNP  ,_,  Texas_NNP  -RRB-_)  was_VBD  outraged_VBN  after_IN  a_DT  private_JJ  word_NN  to_TO  John_NNP  Motley_NNP  ,_,  lobbyist_NN  for_IN  the_DT  National_NNP  Federation_NNP  of_IN  Independent_NNP  Business_NNP  ,_,  resulted_VBD  in_IN  a_DT  news_NN  release_NN  saying_VBG  that_IN  the_DT  Senate_NNP  Finance_NNP  Committee_NNP  chairman_NN  would_MD  recommend_VB  repeal_NN  of_IN  Section_NN  89_CD  ._. 
Even_RB  though_IN  the_DT  announcement_NN  was_VBD  true_JJ  in_IN  the_DT  end_NN  ,_,  it_PRP  was_VBD  issued_VBN  without_IN  the_DT  senator_NN  's_POS  permission_NN  ._. 
``_``  I_PRP  blew_VBD  it_PRP  ,_,  ''_''  Mr._NNP  Motley_NNP  says_VBZ  apologetically_RB  ._. 
``_``  It_PRP  was_VBD  a_DT  timing_NN  mistake_NN  ._.  ''_'' 
PRISON-SHOP_NNP  BLUES_NNPS  :_: 
Sen._NNP  Strom_NNP  Thurmond_NNP  -LRB-_(  R._NNP  ,_,  S.C_NNP  ._.  -RRB-_)  protests_NNS  pending_VBG  legislation_NN  to_TO  end_VB  the_DT  preference_NN  that_IN  the_DT  federal_JJ  prison_NN  system_NN  gets_VBZ  in_IN  selling_VBG  prisoner-made_JJ  furniture_NN  and_CC  other_JJ  goods_NNS  to_TO  government_NN  agencies_NNS  ._. 
Small-business_NN  suppliers_NNS  want_VBP  prisons_NNS  to_TO  stop_VB  getting_VBG  high_JJ  priority_NN  ,_,  especially_RB  as_IN  prison_NN  production_NN  grows_VBZ  with_IN  swelling_VBG  inmate_NN  populations_NNS  ._. 
Last_JJ  year_NN  ,_,  the_DT  prisons_NNS  '_POS  sales_NNS  to_TO  the_DT  Pentagon_NNP  totaled_VBD  $_$  336_CD  million_CD  ._. 
REPAIR_NN  SHOPS_NNS  SCRAP_VBP  for_IN  more_JJR  access_NN  to_TO  work_VB  on_IN  auto-emissions_NNS  systems_NNS  ._. 
Groups_NNS  representing_VBG  some_DT  independent_JJ  auto-repair_JJ  shops_NNS  join_VBP  a_DT  compromise_NN  on_IN  the_DT  Clean_NNP  Air_NNP  legislation_NN  worked_VBD  out_RP  between_IN  environmentalists_NNS  and_CC  Rep._NNP  Henry_NNP  Waxman_NNP  -LRB-_(  D._NNP  ,_,  Calif_NNP  ._.  -RRB-_)  ._. 
The_DT  plan_NN  would_MD  increase_VB  the_DT  warranty_NN  on_IN  auto-emission_NN  systems_NNS  to_TO  eight_CD  years_NNS  or_CC  80,000_CD  miles_NNS  from_IN  five_CD  years_NNS  or_CC  50,000_CD  for_IN  major_JJ  parts_NNS  ._. 
But_CC  the_DT  warranty_NN  on_IN  simpler_JJR  parts_NNS  would_MD  be_VB  lowered_VBN  to_TO  two_CD  years_NNS  or_CC  24,000_CD  miles_NNS  ._. 
The_DT  garage_NN  owners_NNS  say_VBP  they_PRP  would_MD  benefit_VB  because_IN  car_NN  owners_NNS  would_MD  be_VB  less_RBR  likely_JJ  to_TO  go_VB  back_RB  to_TO  dealers_NNS  for_IN  the_DT  simpler_JJR  repairs_NNS  after_IN  two_CD  years_NNS  ._. 
The_DT  repair_NN  shops_NNS  are_VBP  n't_RB  united_VBN  ,_,  however_RB  ._. 
Shops_NNS  represented_VBN  by_IN  the_DT  Automotive_NNP  Service_NNP  Industry_NNP  Association_NNP  and_CC  the_DT  Motor_NNP  Equipment_NNP  Manufacturers_NNP  Association_NNP  oppose_VB  any_DT  increase_NN  in_IN  warranty_NN  length_NN  ._. 
They_PRP  say_VBP  the_DT  longer_RB  the_DT  warranty_NN  ,_,  the_DT  longer_RB  customers_NNS  will_MD  automatically_RB  return_VB  to_TO  new-car_NN  dealers_NNS  ,_,  which_WDT  then_RB  find_VB  non-warranty_NN  work_NN  that_WDT  might_MD  otherwise_RB  go_VB  to_TO  repair_VB  shops_NNS  ._. 
The_DT  House_NNP  Energy_NNP  Committee_NNP  will_MD  debate_VB  the_DT  issue_NN  later_RB  this_DT  month_NN  ._. 
Stan_NNP  Hathcock_NNP  ,_,  an_DT  Atlanta_NNP  garage_NN  owner_NN  who_WP  opposes_VBZ  a_DT  longer_RB  warranty_NN  ,_,  estimates_VBZ  that_IN  the_DT  current_JJ  plan_NN  costs_NNS  him_PRP  as_RB  much_JJ  as_IN  $_$  15,000_CD  a_DT  year_NN  in_IN  lost_VBN  business_NN  ._. 
SMALL_NNP  TALK_NNP  :_: 
Some_DT  70_CD  %_NN  of_IN  graduates_NNS  who_WP  recently_RB  earned_VBD  an_DT  M.B.A._NNP  degree_NN  say_VBP  they_PRP  'd_MD  prefer_VB  to_TO  work_VB  in_IN  or_CC  own_VB  a_DT  small_JJ  company_NN  ,_,  yet_RB  most_RBS  take_VB  jobs_NNS  with_IN  large_JJ  concerns_NNS  ,_,  says_VBZ  a_DT  survey_NN  by_IN  the_DT  Foster_NNP  McKay_NNP  Group_NNP  ,_,  a_DT  New_NNP  York_NNP  recruiting_VBG  firm_NN  ..._:  ._. 
Cardinal_NNP  Scientific_NNP  Inc._NNP  of_IN  Waldorf_NNP  ,_,  Md._NNP  ,_,  seeks_VBZ  a_DT  Small_NNP  Business_NNP  Innovation_NNP  Research_NNP  grant_NN  to_TO  produce_VB  a_DT  ``_``  nozzle_NN  assembly_NN  for_IN  an_DT  Army_NNP  mass_NN  delousing_VBG  outfit_NN  ._. 
Banc_NNP  One_CD  Corp._NNP  said_VBD  Frank_NNP  E._NNP  McKinney_NNP  plans_VBZ  to_TO  retire_VB  as_IN  the_DT  bank_NN  holding_VBG  company_NN  's_POS  president_NN  effective_JJ  Jan._NNP  12_CD  ._. 
Banc_NNP  One_CD  said_VBD  ``_``  it_PRP  is_VBZ  contemplated_VBN  ''_''  that_IN  John_NNP  B._NNP  McCoy_NNP  ,_,  chairman_NN  and_CC  chief_JJ  executive_JJ  officer_NN  ,_,  will_MD  assume_VB  the_DT  additional_JJ  position_NN  of_IN  president_NN  upon_IN  Mr._NNP  McKinney_NNP  's_POS  retirement_NN  ._. 
Mr._NNP  McKinney_NNP  ,_,  50_CD  years_NNS  old_JJ  ,_,  was_VBD  chairman_NN  and_CC  chief_JJ  executive_NN  of_IN  American_NNP  Fletcher_NNP  Corp._NNP  ,_,  Indianapolis_NNP  ,_,  when_WRB  that_DT  bank_NN  holding_VBG  company_NN  merged_VBN  into_IN  Banc_NNP  One_CD  in_IN  January_NNP  1987_CD  ._. 
The_DT  company_NN  said_VBD  Mr._NNP  McKinney_NNP  plans_VBZ  to_TO  retire_VB  because_IN  the_DT  process_NN  of_IN  affiliating_VBG  American_NNP  Fletcher_NNP  into_IN  Banc_NNP  One_CD  ``_``  is_VBZ  considered_VBN  completed_VBN  ._.  ''_'' 
Mr._NNP  McKinney_NNP  will_MD  continue_VB  as_IN  chairman_NN  of_IN  the_DT  board_NN  and_CC  chairman_NN  of_IN  the_DT  executive_JJ  committee_NN  of_IN  Banc_NNP  One_CD  Indiana_NNP  Corp._NNP  ,_,  the_DT  successor_NN  company_NN  to_TO  American_NNP  Fletcher_NNP  Corp._NNP  ,_,  but_CC  will_MD  no_RB  longer_RB  be_VB  active_JJ  in_IN  day-to-day_JJ  management_NN  ._. 
He_PRP  will_MD  remain_VB  on_IN  the_DT  Banc_NNP  One_CD  board_NN  ._. 
The_DT  Treasury_NNP  plans_VBZ  to_TO  raise_VB  $_$  1.55_CD  billion_CD  in_IN  new_JJ  cash_NN  with_IN  the_DT  sale_NN  Monday_NNP  of_IN  about_RB  $_$  15.6_CD  billion_CD  in_IN  short-term_JJ  bills_NNS  to_TO  redeem_VB  $_$  14.1_CD  billion_CD  in_IN  maturing_VBG  bills_NNS  ._. 
The_DT  offering_NN  will_MD  be_VB  divided_VBN  evenly_RB  between_IN  13-week_JJ  and_CC  26-week_JJ  bills_NNS  maturing_VBG  on_IN  Jan._NNP  25_CD  ,_,  1990_CD  ,_,  and_CC  April_NNP  26_CD  ,_,  1990_CD  ,_,  respectively_RB  ._. 
Tenders_NNS  for_IN  the_DT  bills_NNS  ,_,  available_JJ  in_IN  minimum_JJ  $_$  10,000_CD  denominations_NNS  ,_,  must_MD  be_VB  received_VBN  by_IN  1_CD  p.m._NN  EDT_NNP  Monday_NNP  at_IN  the_DT  Treasury_NNP  or_CC  at_IN  Federal_NNP  Reserve_NNP  banks_NNS  or_CC  branches_NNS  ._. 
Moody_NNP  's_POS  Investors_NNP  Service_NNP  Inc._NNP  said_VBD  it_PRP  lowered_VBD  ratings_NNS  on_IN  about_RB  $_$  650_CD  million_CD  of_IN  Beatrice_NNP  Co._NNP  debt_NN  ,_,  citing_VBG  the_DT  closely_RB  held_VBN  Chicago_NNP  food_NN  concern_NN  's_POS  proposed_VBN  recapitalization_NN  ._. 
The_DT  ratings_NNS  concern_VBP  said_VBD  it_PRP  downgraded_VBD  Beatrice_NNP  notes_NNS  ,_,  Euronotes_NNS  and_CC  certain_JJ  industrial_JJ  revenue_NN  bonds_NNS  to_TO  single-B-1_JJ  from_IN  Ba-3_JJ  and_CC  the_DT  company_NN  's_POS  subordinated_VBN  debentures_NNS  to_TO  single-B-3_NNP  from_IN  single-B-2_NN  ._. 
Moody_NNP  's_POS  said_VBD  the_DT  proposed_VBN  recaptilization_NN  may_MD  ``_``  limit_VB  the_DT  company_NN  's_POS  ability_NN  to_TO  realize_VB  its_PRP$  profit_NN  potential_JJ  ''_''  and_CC  that_IN  paying_VBG  dividends_NNS  from_IN  a_DT  new_JJ  series_NN  of_IN  preferred_JJ  could_MD  squeeze_VB  ``_``  basic_JJ  business_NN  operations_NNS  ._.  ''_'' 
A_DT  Beatrice_NNP  spokesman_NN  did_VBD  n't_RB  return_VB  calls_VBZ  seeking_VBG  comment_VB  ._. 
Beatrice_NNP  ,_,  which_WDT  went_VBD  private_JJ  in_IN  an_DT  $_$  8.2_CD  billion_CD  leveraged_JJ  buy-out_NN  in_IN  1986_CD  ,_,  said_VBD  last_JJ  month_NN  that_IN  it_PRP  might_MD  borrow_VB  again_RB  to_TO  help_VB  pay_VB  investors_NNS  as_RB  much_JJ  as_IN  $_$  983_CD  million_CD  in_IN  preferred_JJ  stock_NN  and_CC  debt_NN  securities_NNS  ._. 
When_WRB  the_DT  Soviets_NNPS  announced_VBD  their_PRP$  last_JJ  soldier_NN  had_VBD  left_VBN  Afghanistan_NNP  in_IN  February_NNP  ,_,  the_DT  voices_NNS  of_IN  skepticism_NN  were_VBD  all_DT  but_CC  drowned_VBN  out_IN  by_IN  an_DT  international_JJ  chorus_NN  of_IN  euphoria_NN  ._. 
It_PRP  was_VBD  ``_``  the_DT  Soviets_NNPS  '_''  Vietnam_NNP  ._.  ''_'' 
The_DT  Kabul_NNP  regime_NN  would_MD  fall_VB  ._. 
Millions_NNS  of_IN  refugees_NNS  would_MD  rush_VB  home_NN  ._. 
A_DT  resistance_NN  government_NN  would_MD  walk_VB  into_IN  Kabul_NNP  ._. 
Those_DT  who_WP  bought_VBD  that_DT  illusion_NN  are_VBP  now_RB  bewildered_VBN  ._. 
Eight_CD  months_NNS  after_IN  Gen._NNP  Boris_NNP  Gromov_NNP  walked_VBD  across_IN  the_DT  bridge_NN  into_IN  the_DT  U.S.S.R._NNP  ,_,  a_DT  Soviet-controlled_JJ  regime_NN  remains_VBZ  in_IN  Kabul_NNP  ,_,  the_DT  refugees_NNS  sit_VBP  in_IN  their_PRP$  camps_NNS  ,_,  and_CC  the_DT  restoration_NN  of_IN  Afghan_JJ  freedom_NN  seems_VBZ  as_IN  far_RB  off_IN  as_IN  ever_RB  ._. 
But_CC  there_EX  never_RB  was_VBD  a_DT  chance_NN  that_IN  the_DT  Afghan_JJ  resistance_NN  would_MD  overthrow_VB  the_DT  Kabul_NNP  regime_NN  quickly_RB  and_CC  easily_RB  ._. 
Soviet_JJ  leaders_NNS  said_VBD  they_PRP  would_MD  support_VB  their_PRP$  Kabul_NNP  clients_NNS  by_IN  all_DT  means_VBZ  necessary_JJ  --_:  and_CC  did_VBD  ._. 
The_DT  U.S._NNP  said_VBD  it_PRP  would_MD  fully_RB  support_VB  the_DT  resistance_NN  --_:  and_CC  did_VBD  n't_RB  ._. 
With_IN  the_DT  February_NNP  1987_CD  U.N._NNP  accords_NNS  ``_``  relating_VBG  to_TO  Afghanistan_NNP  ,_,  ''_''  the_DT  Soviet_NNP  Union_NNP  got_VBD  everything_NN  it_PRP  needed_VBD  to_TO  consolidate_VB  permanent_JJ  control_NN  ._. 
The_DT  terms_NNS  of_IN  the_DT  Geneva_NNP  accords_NNS  leave_VBP  Moscow_NNP  free_JJ  to_TO  provide_VB  its_PRP$  clients_NNS  in_IN  Kabul_NNP  with_IN  assistance_NN  of_IN  any_DT  kind_NN  --_:  including_VBG  the_DT  return_NN  of_IN  Soviet_JJ  ground_NN  forces_NNS  --_:  while_IN  requiring_VBG  the_DT  U.S._NNP  and_CC  Pakistan_NNP  to_TO  cut_VB  off_IN  aid_NN  ._. 
The_DT  only_JJ  fly_NN  in_IN  the_DT  Soviet_JJ  ointment_NN  was_VBD  the_DT  last-minute_JJ  addition_NN  of_IN  a_DT  unilateral_JJ  American_JJ  caveat_NN  ,_,  that_IN  U.S._NNP  aid_NN  to_TO  the_DT  resistance_NN  would_MD  continue_VB  as_RB  long_RB  as_IN  Soviet_JJ  aid_NN  to_TO  Kabul_NNP  did_VBD  ._. 
But_CC  as_RB  soon_RB  as_IN  the_DT  accords_NNS  were_VBD  signed_VBN  ,_,  American_JJ  officials_NNS  sharply_RB  reduced_VBN  aid_NN  ._. 
In_IN  February_NNP  1989_CD  ,_,  when_WRB  the_DT  Soviets_NNPS  said_VBD  they_PRP  had_VBD  completed_VBN  their_PRP$  pullout_NN  ,_,  the_DT  U.S._NNP  cut_NN  it_PRP  further_JJ  ._. 
Not_RB  so_RB  the_DT  Soviets_NNPS  ._. 
Gen._NNP  Gromov_NNP  himself_PRP  said_VBD  Soviet_JJ  troops_NNS  expected_VBN  to_TO  leave_VB  behind_IN  more_JJR  than_IN  $_$  1_CD  billion_CD  of_IN  military_JJ  equipment_NN  and_CC  installations_NNS  for_IN  the_DT  Kabul_NNP  regime_NN  ._. 
Since_IN  the_DT  troop_NN  withdrawal_NN  ,_,  Moscow_NNP  has_VBZ  poured_VBN  in_IN  an_DT  additional_JJ  $_$  200_CD  to_TO  $_$  300_CD  million_CD  worth_JJ  per_IN  month_NN  --_:  nearly_RB  $_$  2_CD  billion_CD  since_IN  February_NNP  ,_,  equivalent_NN  to_TO  the_DT  total_JJ  U.S._NNP  aid_NN  to_TO  the_DT  resistance_NN  in_IN  nine_CD  years_NNS  ._. 
This_DT  includes_VBZ  what_WP  Deputy_NNP  Foreign_NNP  Minister_NNP  Yuli_NNP  Vorontsov_NNP  fetchingly_RB  called_VBD  ``_``  new_JJ  peaceful_JJ  long-range_JJ  weapons_NNS  ,_,  ''_''  including_VBG  more_JJR  than_IN  800_CD  SCUD_NNP  missiles_NNS  ._. 
By_IN  early_JJ  May_NNP  ,_,  Moscow_NNP  had_VBD  delivered_VBN  ,_,  for_IN  example_NN  ,_,  1,000_CD  trucks_NNS  ,_,  about_IN  100_CD  tanks_NNS  ,_,  artillery_NN  and_CC  hundreds_NNS  of_IN  other_JJ  combat_NN  vehicles_NNS  ._. 
Later_RB  that_DT  month_NN  ,_,  it_PRP  added_VBD  an_DT  entire_JJ  tank_NN  brigade_NN  ,_,  including_VBG  120_CD  T-72_NN  tanks_NNS  and_CC  more_JJR  than_IN  40_CD  BMP_NN  state-of-the-art_JJ  infantry_NN  fighting_VBG  vehicles_NNS  ._. 
By_IN  September_NNP  ,_,  a_DT  new_JJ  Reinforced_NNP  Motorized_NNP  Rifle_NNP  Brigade_NNP  with_IN  an_DT  additional_JJ  300_CD  combat_NN  vehicles_NNS  ,_,  1,000_CD  more_JJR  trucks_NNS  and_CC  10,000_CD  Soviet-trained_JJ  Afghan_JJ  troops_NNS  had_VBD  arrived_VBN  in_IN  Kandahar_NNP  ._. 
In_IN  the_DT  last_JJ  few_JJ  weeks_NNS  ,_,  Moscow_NNP  has_VBZ  added_VBN  FROG-7B_NN  missiles_NNS  ,_,  the_DT  bomber_NN  version_NN  of_IN  the_DT  An-12_NN  ,_,  MiG-23BN_NN  high-altitude_JJ  aircraft_NN  ,_,  MiG-29s_NNS  ,_,  which_WDT  can_MD  outfly_VB  Pakistan_NNP  's_POS  U.S.-built_JJ  F16s_NNS  ,_,  and_CC  Sukhoi_NNP  SU-27_NN  fighter-bombers_NNS  ,_,  which_WDT  can_MD  outfly_VB  the_DT  MiG-29s_NNS  ._. 
Moscow_NNP  claims_VBZ  this_DT  is_VBZ  all_DT  needed_VBN  to_TO  protect_VB  the_DT  Kabul_NNP  regime_NN  against_IN  the_DT  guerrilla_NN  resistance_NN  ._. 
It_PRP  is_VBZ  well-known_JJ  that_IN  the_DT  regular_JJ  Afghan_JJ  infantry_NN  is_VBZ  filled_VBN  with_IN  reluctant_JJ  conscripts_NNS  ._. 
But_CC  this_DT  is_VBZ  not_RB  the_DT  entire_JJ  Afghan_JJ  army_NN  ,_,  and_CC  it_PRP  is_VBZ  no_RB  longer_RB  Kabul_NNP  's_POS  only_RB  military_JJ  force_NN  ._. 
Complete_JJ  units_NNS  have_VBP  been_VBN  trained_VBN  and_CC  indoctrinated_VBN  in_IN  the_DT  U.S.S.R._NNP  and_CC  other_JJ  East_NNP  bloc_NN  nations_NNS  ;_:  30,000_CD  to_TO  40,000_CD  of_IN  these_DT  troops_NNS  have_VBP  returned_VBN  ._. 
In_IN  addition_NN  ,_,  the_DT  regime_NN  has_VBZ  established_VBN  well-paid_JJ  paramilitary_JJ  forces_NNS  totaling_VBG  more_JJR  than_IN  100,000_CD  ,_,  including_VBG  35,000_CD  Soviet-trained_JJ  troops_NNS  of_IN  the_DT  Interior_NNP  Ministry_NNP  -LRB-_(  KHAD\/WAD_NN  -RRB-_)  ,_,  which_WDT  still_RB  is_VBZ  directed_VBN  by_IN  1,500_CD  Soviet_NNP  KGB_NNP  officers_NNS  ._. 
Even_RB  if_IN  not_RB  all_PDT  these_DT  forces_NNS  are_VBP  committed_VBN  to_TO  the_DT  regime_NN  ,_,  they_PRP  are_VBP  now_RB  dependent_JJ  on_IN  it_PRP  ._. 
And_CC  thousands_NNS  of_IN  Afghan_JJ  children_NNS  have_VBP  been_VBN  taken_VBN  to_TO  the_DT  Soviet_NNP  Union_NNP  ,_,  where_WRB  they_PRP  are_VBP  hostage_NN  for_IN  the_DT  behavior_NN  of_IN  their_PRP$  families_NNS  ._. 
Since_IN  1981_CD  ,_,  Indian_NNP  military_JJ  advisers_NNS  have_VBP  been_VBN  assisting_VBG  the_DT  Kabul_NNP  regime_NN  ._. 
In_IN  preparation_NN  for_IN  the_DT  withdrawal_NN  ,_,  Moscow_NNP  ,_,  Kabul_NNP  and_CC  New_NNP  Delhi_NNP  signed_VBD  two_CD  agreements_NNS  for_IN  several_JJ  hundred_CD  newly_RB  civilian_JJ  Indian_NNP  experts_NNS  to_TO  replace_VB  some_DT  of_IN  the_DT  more_RBR  visible_JJ  Soviet_JJ  military_JJ  personnel_NNS  ._. 
Cuban_JJ  military_JJ  personnel_NNS  also_RB  have_VBP  been_VBN  active_JJ  in_IN  Afghanistan_NNP  since_IN  1979_CD  ._. 
The_DT  Soviets_NNPS  cut_NN  a_DT  deal_NN  with_IN  Iran_NNP  :_:  a_DT  future_NN  Iranian_JJ  role_NN  in_IN  Afghanistan_NNP  in_IN  exchange_NN  for_IN  Iranian_JJ  support_NN  of_IN  Soviet_JJ  policy_NN  ._. 
The_DT  deal_NN  was_VBD  symbolized_VBN  by_IN  the_DT  restoration_NN  of_IN  the_DT  Shi'ite_NNP  Sultan_NNP  Ali_NNP  Keshtmand_NNP  to_TO  the_DT  Afghan_JJ  prime_JJ  ministry_NN  ._. 
Moreover_RB  ,_,  serious_JJ  questions_NNS  have_VBP  been_VBN  raised_VBN  about_IN  the_DT  claimed_VBN  withdrawal_NN  of_IN  Soviet_JJ  forces_NNS  ._. 
Before_IN  his_PRP$  assassination_NN  in_IN  1988_CD  ,_,  President_NNP  Zia_NNP  of_IN  Pakistan_NNP  repeatedly_RB  stated_VBD  that_IN  fresh_JJ  Soviet_JJ  troops_NNS  were_VBD  being_VBG  inserted_VBN  into_IN  Afghanistan_NNP  even_RB  as_IN  others_NNS  were_VBD  ostentatiously_RB  withdrawn_VBN  ._. 
Rep._NNP  Bill_NNP  McCollum_NNP  -LRB-_(  R._NNP  ,_,  Fla._NNP  -RRB-_)  reports_NNS  that_IN  these_DT  included_VBD  20,000_CD  to_TO  30,000_CD  Soviet_NNP  Central_NNP  Asian_NNP  KGB_NNP  Border_NNP  Guards_NNPS  ,_,  ethnically_RB  indistinguishable_JJ  from_IN  Afghans_NNPS  and_CC  wearing_VBG  unmarked_JJ  uniforms_NNS  ._. 
Meanwhile_RB  ,_,  the_DT  Kabul_NNP  regime_NN  is_VBZ  increasingly_RB  successful_JJ  at_IN  portraying_VBG  the_DT  resistance_NN  as_IN  bloody-minded_JJ  fanatics_NNS  ._. 
In_IN  this_DT  they_PRP  are_VBP  aided_VBN  by_IN  years_NNS  of_IN  American_NNP  ,_,  European_JJ  ,_,  Pakistani_JJ  and_CC  Saudi_NNP  support_NN  for_IN  the_DT  most_RBS  extreme_JJ  factions_NNS  --_:  radical_JJ  Islamic_NNP  fanatics_NNS  with_IN  leaders_NNS  whose_WP$  policies_NNS  are_VBP  anathema_NN  to_TO  the_DT  Afghan_JJ  public_NN  ._. 
This_DT  heavy_NN  outside_IN  support_NN  for_IN  the_DT  worst_JJS  has_VBZ  undermined_VBN  better_JJR  ,_,  moderate_JJ  leaders_NNS  ._. 
In_IN  autumn_NN  last_JJ  year_NN  ,_,  for_IN  example_NN  ,_,  the_DT  regime_NN  garrison_NN  at_IN  Kandahar_NNP  was_VBD  prepared_VBN  to_TO  surrender_VB  the_DT  city_NN  to_TO  resistance_NN  moderates_NNS  ._. 
At_IN  the_DT  last_JJ  minute_NN  ,_,  however_RB  ,_,  Pakistani_JJ  officials_NNS  sent_VBD  in_IN  Gulbuddin_NNP  Hekhmatyar_NNP  ,_,  perhaps_RB  the_DT  most_RBS  hated_VBD  and_CC  feared_VBD  of_IN  the_DT  extremists_NNS  ,_,  with_IN  a_DT  demand_NN  that_IN  the_DT  surrender_NN  be_VB  made_VBN  to_TO  his_PRP$  forces_NNS  ._. 
The_DT  deal_NN  fell_VBD  through_IN  ,_,  and_CC  Kandahar_NNP  remains_VBZ  a_DT  major_JJ  regime_NN  base_NN  ._. 
The_DT  resistance_NN  lacks_VBZ  not_RB  only_JJ  air_NN  power_NN  ,_,  armor_NN  and_CC  expertise_NN  but_CC  often_RB  such_JJ  essentials_NNS  as_IN  maps_NNS  ,_,  mine_NN  detectors_NNS  ,_,  or_CC  even_JJ  winter_NN  gloves_NNS  ._. 
Experienced_VBN  resistance_NN  commanders_NNS  wanted_VBD  to_TO  use_VB  guerrilla_NN  action_NN  and_CC  siege_NN  tactics_NNS  to_TO  wear_VB  down_RP  the_DT  regime_NN  ._. 
Instead_RB  ,_,  they_PRP  were_VBD  pressured_VBN  by_IN  Pakistan_NNP  's_POS  ISI_NNP  ,_,  the_DT  channel_NN  for_IN  their_PRP$  support_NN  ,_,  into_IN  attacking_VBG  Jalalabad_NNP  ._. 
They_PRP  took_VBD  more_JJR  than_IN  25_CD  %_NN  casualties_NNS  ;_:  journalists_NNS  report_VBP  that_IN  they_PRP  faced_VBD  minefields_NNS  without_IN  mine_NN  detectors_NNS  ._. 
The_DT  wonder_NN  is_VBZ  not_RB  that_IN  the_DT  resistance_NN  has_VBZ  failed_VBN  to_TO  topple_VB  the_DT  Kabul_NNP  regime_NN  ,_,  but_CC  that_IN  it_PRP  continues_VBZ  to_TO  exist_VB  and_CC  fight_NN  at_IN  all_DT  ._. 
Last_JJ  summer_NN  ,_,  in_IN  response_NN  to_TO  congressional_JJ  criticism_NN  ,_,  the_DT  State_NNP  Department_NNP  and_CC  the_DT  CIA_NNP  said_VBD  they_PRP  had_VBD  resumed_VBN  military_JJ  aid_NN  to_TO  the_DT  resistance_NN  months_NNS  after_IN  it_PRP  was_VBD  cut_VBN  off_IN  ;_:  but_CC  it_PRP  is_VBZ  not_RB  clear_JJ  how_WRB  much_NN  is_VBZ  being_VBG  sent_VBN  or_CC  when_WRB  it_PRP  will_MD  arrive_VB  ._. 
For_IN  months_NNS  the_DT  resistance_NN  has_VBZ  been_VBN  defenseless_JJ  against_IN  air_NN  attack_NN  ._. 
Thus_RB  far_RB  there_EX  is_VBZ  no_DT  indication_NN  that_IN  they_PRP  have_VBP  been_VBN  re-supplied_VBN  with_IN  Stingers_NNPS  or_CC  other_JJ  anti-aircraft_JJ  weapons_NNS  ._. 
Indeed_RB  ,_,  U.S._NNP  officials_NNS  have_VBP  indicated_VBN  to_TO  the_DT  press_NN  that_IN  the_DT  continuation_NN  of_IN  aid_NN  depends_VBZ  on_IN  what_WP  success_NN  the_DT  weakened_VBN  resistance_NN  achieves_VBZ  by_IN  the_DT  end_NN  of_IN  this_DT  year_NN  ._. 
Moscow_NNP  and_CC  Kabul_NNP  must_MD  have_VB  found_VBN  that_DT  information_NN  useful_JJ  ._. 
For_IN  a_DT  decade_NN  U.S._NNP  policy_NN  has_VBZ  been_VBN  incoherent_JJ  ,_,  based_VBN  on_IN  miscalculation_NN  and_CC  the_DT  defense_NN  of_IN  bureaucratic_JJ  and_CC  political_JJ  turf_NN  ._. 
No_DT  settlement_NN  negotiated_VBN  by_IN  others_NNS  can_MD  force_VB  the_DT  Afghan_JJ  people_NNS  to_TO  give_VB  up_IN  their_PRP$  struggle_NN  ._. 
A_DT  cutoff_NN  of_IN  U.S._NNP  military_JJ  aid_NN  would_MD  merely_RB  abandon_VB  them_PRP  to_TO  die_VB  in_IN  vain_JJ  ._. 
Creation_NN  of_IN  a_DT  new_JJ  ,_,  realistic_JJ  U.S._NNP  policy_NN  is_VBZ  long_JJ  overdue_JJ  ._. 
Ms._NNP  Klass_NNP  ,_,  editor_NN  and_CC  co-author_NN  of_IN  ``_``  Afghanistan_NNP  :_:  The_DT  Great_NNP  Game_NNP  Revisited_NNP  ''_''  -LRB-_(  Freedom_NNP  House_NNP  -RRB-_)  ,_,  directs_VBZ  the_DT  Freedom_NNP  House_NNP  program_NN  on_IN  Afghanistan\/Southwest_NNP  Asia_NNP  ._. 
Nothing_NN  stirred_VBD  the_DT  soul_NN  of_IN  Ronald_NNP  Reagan_NNP  and_CC  his_PRP$  disciples_NNS  as_RB  much_JJ  as_IN  the_DT  crusade_NN  to_TO  aid_VB  Nicaragua_NNP  's_POS  Contra_NNP  rebels_NNS  ,_,  or_CC  the_DT  dream_NN  of_IN  building_VBG  a_DT  space-based_JJ  defense_NN  shield_NN  to_TO  knock_VB  out_IN  Soviet_JJ  nuclear_JJ  missiles_NNS  ._. 
Yet_RB  under_IN  Mr._NNP  Reagan_NNP  's_POS  preferred_JJ  successor_NN  ,_,  President_NNP  Bush_NNP  ,_,  those_DT  two_CD  cherished_VBN  national-security_NN  causes_NNS  are_VBP  withering_VBG  on_IN  the_DT  vine_NN  ._. 
And_CC  ,_,  surprisingly_RB  ,_,  little_RB  more_JJR  than_IN  a_DT  whimper_NN  of_IN  protest_NN  is_VBZ  being_VBG  heard_VBN  ,_,  even_RB  though_IN  Reaganauts_NNS  once_RB  breathed_VBD  fire_NN  supporting_VBG  the_DT  Contras_NNPS  and_CC  the_DT  Strategic_NNP  Defense_NNP  Initiative_NNP  ._. 
``_``  The_DT  programs_NNS  have_VBP  arthritis_NN  ,_,  ''_''  says_VBZ  Rep._NNP  Henry_NNP  Hyde_NNP  ,_,  a_DT  conservative_JJ  Republican_NNP  from_IN  Illinois_NNP  ._. 
Yet_RB  ,_,  he_PRP  asserts_VBZ  ,_,  ``_``  you_PRP  look_VBP  around_IN  ..._:  and_CC  you_PRP  say_VBP  ,_,  `_``  Who_WP  are_VBP  the_DT  leaders_NNS  ?_. 
Who_WP  is_VBZ  going_VBG  to_TO  carry_VB  the_DT  water_NN  ?_.  '_''  ''_'' 
It_PRP  is_VBZ  n't_RB  surprising_JJ  that_IN  President_NNP  Bush_NNP  has_VBZ  n't_RB  led_VBN  a_DT  crusade_NN  to_TO  pump_VB  up_IN  the_DT  Contras_NNPS  or_CC  SDI_NNP  ._. 
Though_IN  he_PRP  nominally_RB  supports_VBZ  both_DT  programs_NNS  ,_,  Mr._NNP  Bush_NNP  has_VBZ  n't_RB  been_VBN  a_DT  passionate_JJ  champion_NN  of_IN  either_DT  cause_NN  ,_,  as_IN  Mr._NNP  Reagan_NNP  was_VBD  ._. 
What_WP  's_VBZ  surprising_JJ  is_VBZ  that_IN  there_EX  is_VBZ  n't_RB  more_JJR  of_IN  a_DT  conservative_JJ  outcry_NN  as_IN  the_DT  Bush_NNP  administration_NN  lets_VBZ  the_DT  programs_NNS  slip_VBP  down_RP  the_DT  national-priority_JJ  list_NN  ._. 
A_DT  combination_NN  of_IN  factors_NNS  --_:  a_DT  weariness_NN  among_IN  some_DT  conservatives_NNS  ,_,  a_DT  decline_NN  in_IN  the_DT  perception_NN  of_IN  a_DT  Soviet_JJ  threat_NN  and_CC  a_DT  preoccupation_NN  with_IN  other_JJ  issues_NNS  --_:  seem_VB  to_TO  explain_VB  the_DT  strange_JJ  tranquility_NN  ._. 
Above_IN  all_DT  ,_,  though_RB  ,_,  conservative_JJ  Republicans_NNPS  who_WP  have_VBP  championed_VBN  both_DT  the_DT  Contras_NNPS  and_CC  SDI_NNP  are_VBP  reluctant_JJ  to_TO  attack_VB  a_DT  Republican_NNP  president_NN  for_IN  failing_VBG  to_TO  do_VB  more_JJR  --_:  though_IN  that_DT  reluctance_NN  may_MD  be_VB  receding_VBG  ._. 
``_``  We_PRP  want_VBP  to_TO  complain_VB  ,_,  we_PRP  want_VBP  to_TO  say_VB  something_NN  about_IN  it_PRP  ,_,  and_CC  we_PRP  're_VBP  going_VBG  to_TO  as_IN  it_PRP  gets_VBZ  worse_JJR  ,_,  ''_''  says_VBZ  Rep._NNP  Dan_NNP  Burton_NNP  ,_,  an_DT  Indiana_NNP  Republican_NNP  who_WP  has_VBZ  been_VBN  a_DT  staunch_JJ  Contra_NNP  backer_NN  ._. 
``_``  But_CC  it_PRP  's_VBZ  like_IN  kicking_VBG  your_PRP$  father_NN  in_IN  the_DT  pants_NNS  ._. 
You_PRP  hate_VBP  to_TO  do_VB  it_PRP  because_IN  he_PRP  's_VBZ  your_PRP$  father_NN  ._.  ''_'' 
Mr._NNP  Burton_NNP  says_VBZ  conservatives_NNS  '_POS  unhappiness_NN  with_IN  Mr._NNP  Bush_NNP  's_POS  cautious_JJ  handling_NN  of_IN  the_DT  recent_JJ  unsuccessful_JJ  coup_NN  in_IN  Panama_NNP  will_MD  make_VB  them_PRP  more_RBR  willing_JJ  to_TO  speak_VB  out_RB  ._. 
Of_IN  course_NN  ,_,  neither_DT  President_NNP  Bush_NNP  nor_CC  the_DT  Congress_NNP  has_VBZ  actually_RB  abandoned_VBN  the_DT  Contras_NNPS  or_CC  SDI_NNP  ._. 
Mr._NNP  Bush_NNP  has_VBZ  struck_VBN  a_DT  deal_NN  with_IN  congressional_JJ  leaders_NNS  to_TO  provide_VB  nonlethal_JJ  aid_NN  to_TO  the_DT  Contras_NNPS  until_IN  Nicaragua_NNP  holds_VBZ  national_JJ  elections_NNS  next_JJ  February_NNP  ._. 
But_CC  the_DT  administration_NN  has_VBZ  dropped_VBN  any_DT  effort_NN  to_TO  win_VB  military_JJ  aid_NN  for_IN  the_DT  rebels_NNS  ._. 
And_CC  the_DT  administration_NN  's_POS  deal_NN  with_IN  Congress_NNP  gives_VBZ  several_JJ  congressional_JJ  committees_NNS  the_DT  right_NN  to_TO  cut_VB  off_IN  even_RB  humanitarian_JJ  aid_NN  next_JJ  month_NN  ,_,  though_IN  the_DT  committees_NNS  are_VBP  likely_JJ  to_TO  let_VB  aid_NN  continue_VB  until_IN  February_NNP  ._. 
Most_JJS  analysts_NNS  think_VBP  there_EX  's_VBZ  little_JJ  prospect_NN  the_DT  Contras_NNPS  can_MD  be_VB  a_DT  significant_JJ  fighting_NN  force_NN  without_IN  U.S._NNP  arms_NNS  ,_,  and_CC  after_IN  the_DT  February_NNP  election_NN  their_PRP$  future_NN  in_IN  any_DT  form_NN  will_MD  be_VB  murky_JJ  at_IN  best_JJS  ._. 
Instead_RB  of_IN  focusing_VBG  on_IN  the_DT  Contras_NNPS  ,_,  Mr._NNP  Bush_NNP  has_VBZ  switched_VBN  to_TO  urging_VBG  members_NNS  of_IN  Congress_NNP  --_:  most_RBS  recently_RB  in_IN  a_DT  White_NNP  House_NNP  meeting_NN  yesterday_NN  --_:  to_TO  approve_VB  financing_NN  for_IN  the_DT  election_NN  campaign_NN  of_IN  political_JJ  opponents_NNS  of_IN  Nicaragua_NNP  's_POS  Sandinista_NNP  government_NN  ._. 
The_DT  administration_NN  continues_VBZ  to_TO  support_VB  SDI_NNP  ,_,  or_CC  Star_NNP  Wars_NNP  ,_,  and_CC  it_PRP  recently_RB  lobbied_VBD  to_TO  persuade_VB  the_DT  Senate_NNP  to_TO  restore_VB  some_DT  of_IN  the_DT  funds_NNS  it_PRP  planned_VBD  to_TO  cut_VB  from_IN  the_DT  program_NN  ._. 
And_CC  just_RB  last_JJ  week_NN  ,_,  Defense_NNP  Secretary_NNP  Dick_NNP  Cheney_NNP  gave_VBD  a_DT  strong_JJ  speech_NN  listing_NN  ``_``  compelling_JJ  reasons_NNS  ''_''  to_TO  push_VB  ahead_RB  with_IN  SDI_NNP  and_CC  saying_VBG  he_PRP  'd_MD  urge_VB  President_NNP  Bush_NNP  to_TO  veto_VB  a_DT  defense_NN  bill_NN  with_IN  ``_``  inadequate_JJ  ''_''  funding_NN  for_IN  the_DT  program_NN  ._. 
But_CC  the_DT  strong_JJ  pitch_NN  by_IN  Mr._NNP  Cheney_NNP  may_MD  be_VB  too_RB  little_JJ  too_RB  late_JJ  to_TO  prevent_VB  damage_NN  to_TO  SDI_NNP  ._. 
The_DT  House_NNP  has_VBZ  already_RB  voted_VBN  for_IN  a_DT  deep_JJ  cut_NN  in_IN  funding_NN  ,_,  and_CC  in_IN  the_DT  end_NN  the_DT  program_NN  's_POS  backers_NNS  will_MD  be_VB  hard_RB  pressed_VBN  to_TO  head_VB  off_IN  some_DT  reduction_NN  in_IN  spending_NN  next_JJ  year_NN  ._. 
And_CC  while_IN  the_DT  defense_NN  secretary_NN  is_VBZ  speaking_VBG  out_IN  ,_,  President_NNP  Bush_NNP  himself_PRP  has_VBZ  n't_RB  launched_VBN  any_DT  high-visibility_JJ  campaign_NN  to_TO  drum_VB  up_IN  support_NN  ,_,  as_IN  President_NNP  Reagan_NNP  did_VBD  ._. 
The_DT  administration_NN  also_RB  acknowledges_VBZ  that_IN  it_PRP  is_VBZ  n't_RB  pursuing_VBG  Mr._NNP  Reagan_NNP  's_POS  original_JJ  vision_NN  of_IN  an_DT  ``_``  impenetrable_JJ  shield_NN  ''_''  protecting_VBG  the_DT  whole_JJ  U.S._NNP  ,_,  but_CC  rather_RB  a_DT  more_RBR  modest_JJ  version_NN  ._. 
More_RBR  ominous_JJ  to_TO  SDI_NNP  supporters_NNS  ,_,  the_DT  Bush_NNP  administration_NN  appears_VBZ  to_TO  have_VB  tacitly_RB  accepted_VBN  a_DT  new_JJ  arms-control_NN  proposal_NN  from_IN  the_DT  Soviet_NNP  Union_NNP  that_WDT  spells_VBZ  long-term_JJ  trouble_NN  for_IN  Star_NNP  Wars_NNPS  ._. 
The_DT  Soviets_NNPS  have_VBP  agreed_VBN  to_TO  complete_VB  a_DT  treaty_NN  cutting_VBG  strategic_JJ  weapons_NNS  without_IN  including_VBG  restrictions_NNS  on_IN  space-based_JJ  defenses_NNS  ._. 
But_CC  the_DT  Soviets_NNPS  also_RB  are_VBP  insisting_VBG  that_IN  they_PRP  will_MD  reserve_VB  the_DT  right_NN  to_TO  withdraw_VB  from_IN  the_DT  completed_VBN  strategic-arms_JJ  treaty_NN  later_RB  on_IN  if_IN  the_DT  U.S._NNP  does_VBZ  SDI_NNP  testing_NN  or_CC  deployment_NN  that_IN  the_DT  Soviets_NNPS  think_VBP  violates_VBZ  the_DT  existing_VBG  anti-ballistic-missile_JJ  treaty_NN  ._. 
It_PRP  will_MD  be_VB  hard_JJ  down_RP  the_DT  road_NN  to_TO  persuade_VB  Congress_NNP  to_TO  approve_VB  money_NN  for_IN  SDI_NNP  plans_VBZ  if_IN  lawmakers_NNS  fear_VBP  those_DT  plans_NNS  could_MD  scuttle_VB  a_DT  completed_VBN  treaty_NN  ._. 
As_IN  a_DT  result_NN  ,_,  Frank_NNP  Gaffney_NNP  ,_,  a_DT  former_JJ  Reagan_NNP  Pentagon_NNP  aide_NN  who_WP  now_RB  heads_VBZ  the_DT  Center_NNP  for_IN  Security_NNP  Policy_NNP  ,_,  charges_VBZ  that_IN  the_DT  administration_NN  's_POS  ``_``  professions_NNS  of_IN  continued_VBN  commitment_NN  to_TO  development_NN  and_CC  deployment_NN  of_IN  the_DT  SDI_NNP  program_NN  strain_NN  credulity_NN  ._.  ''_'' 
Still_RB  ,_,  proponents_NNS  may_MD  be_VB  shying_VBG  away_RB  from_IN  more_JJR  drumbeating_NN  because_IN  they_PRP  sense_VBP  political_JJ  tides_NNS  have_VBP  turned_VBN  against_IN  arming_NN  the_DT  Nicaraguan_JJ  rebels_NNS  or_CC  boosting_VBG  spending_NN  on_IN  SDI_NNP  --_:  particularly_RB  when_WRB  the_DT  public_NN  perceives_VBZ  the_DT  Soviet_JJ  threat_NN  is_VBZ  declining_VBG  under_IN  Mikhail_NNP  Gorbachev_NNP  ._. 
In_IN  fact_NN  ,_,  because_IN  communism_NN  seems_VBZ  to_TO  be_VB  beating_VBG  a_DT  global_JJ  retreat_NN  ,_,  some_DT  conservatives_NNS  may_MD  simply_RB  be_VB  so_RB  pleased_VBN  that_IN  their_PRP$  anti-communist_JJ  philosophy_NN  is_VBZ  prevailing_VBG  that_IN  they_PRP  do_VBP  n't_RB  have_VB  the_DT  fire_NN  at_IN  the_DT  moment_NN  to_TO  push_VB  controversial_JJ  programs_NNS  ._. 
``_``  The_DT  short_NN  of_IN  it_PRP  is_VBZ  that_IN  the_DT  most_RBS  hard-bitten_JJ  among_IN  us_PRP  can_MD  not_RB  get_VB  into_IN  too_RB  sour_VB  a_DT  mood_NN  with_IN  communism_NN  collapsing_VBG  ,_,  ''_''  says_VBZ  Mitchell_NNP  Daniels_NNP  ,_,  a_DT  former_JJ  Reagan_NNP  White_NNP  House_NNP  aide_NN  who_WP  now_RB  is_VBZ  president_NN  of_IN  the_DT  Hudson_NNP  Institute_NNP  ._. 
Some_DT  activists_NNS  are_VBP  toiling_VBG  to_TO  raise_VB  the_DT  profile_NN  of_IN  the_DT  two_CD  causes_NNS  ._. 
But_CC  they_PRP  say_VBP  they_PRP  ca_MD  n't_RB  make_VB  much_JJ  headway_NN  because_IN  of_IN  a_DT  lack_NN  of_IN  willing_JJ  leaders_NNS  in_IN  a_DT  position_NN  to_TO  turn_VB  the_DT  tide_NN  ._. 
One_CD  longtime_JJ  champion_NN  of_IN  these_DT  programs_NNS  in_IN  Congress_NNP  ,_,  Republican_NNP  whip_NN  Newt_NNP  Gingrich_NNP  of_IN  Georgia_NNP  ,_,  is_VBZ  distracted_VBN  by_IN  questions_NNS  about_IN  his_PRP$  ethics_NNS  ,_,  conservatives_NNS  note_VBP  ._. 
Other_JJ  conservative_JJ  champions_NNS  ,_,  like_IN  Wyoming_NNP  Republican_NNP  Sen._NNP  Malcolm_NNP  Wallop_NNP  ,_,  a_DT  longtime_JJ  SDI_NNP  advocate_NN  ,_,  do_VBP  n't_RB  have_VB  the_DT  clout_NN  with_IN  the_DT  Bush_NNP  White_NNP  House_NNP  that_IN  they_PRP  enjoyed_VBD  with_IN  President_NNP  Reagan_NNP  ._. 
Above_IN  all_DT  ,_,  though_RB  ,_,  proponents_NNS  say_VBP  neither_DT  the_DT  Contra_NNP  nor_CC  the_DT  SDI_NNP  cause_NN  can_MD  be_VB  pushed_VBN  much_JJ  further_JJ  without_IN  more_RBR  presidential_JJ  support_NN  ._. 
``_``  For_IN  there_EX  to_TO  be_VB  wind_NN  in_IN  the_DT  sails_NNS  of_IN  any_DT  program_NN  ,_,  the_DT  chief_JJ  executive_NN  has_VBZ  to_TO  be_VB  blowing_VBG  in_IN  the_DT  sails_NNS  ,_,  ''_''  says_VBZ  Rep._NNP  Burton_NNP  ._. 
All_DT  this_DT  causes_NNS  Rep._NNP  Hyde_NNP  to_TO  muse_VB  about_IN  an_DT  alternate_JJ  way_NN  to_TO  drum_VB  up_IN  more_JJR  enthusiasm_NN  ._. 
``_``  What_WP  I_PRP  'd_MD  like_VB  to_TO  see_VB  ,_,  if_IN  he_PRP  is_VBZ  up_IN  to_TO  it_PRP  ,_,  is_VBZ  for_IN  Reagan_NNP  to_TO  take_VB  to_TO  the_DT  hustings_NN  to_TO  regenerate_VB  enthusiasm_NN  for_IN  SDI_NNP  ,_,  ''_''  the_DT  congressman_NN  says_NNS  ._. 
We_PRP  're_VBP  sorry_JJ  to_TO  report_VB  that_IN  on_IN  Monday_NNP  President_NNP  Bush_NNP  accepted_VBD  the_DT  resignation_NN  of_IN  William_NNP  Allen_NNP  as_IN  chairman_NN  of_IN  the_DT  U.S._NNP  Civil_NNP  Rights_NNP  Commission_NNP  ._. 
Mr._NNP  Allen_NNP  ,_,  appointed_VBN  by_IN  President_NNP  Reagan_NNP  ,_,  grew_VBD  understandably_RB  tired_VBN  of_IN  dealing_VBG  with_IN  the_DT  guerrilla_NN  tactics_NNS  of_IN  his_PRP$  enemies_NNS  ._. 
His_PRP$  recent_JJ  speech_NN  ,_,  provocatively_RB  titled_VBN  ``_``  Blacks_NNS  ?_.  Animals_NNS  ?_.  Homosexuals_NNS  ?_.  What_WP  is_VBZ  a_DT  Minority_NNP  ?_.  ''_''  caused_VBN  an_DT  uproar_NN  when_WRB  its_PRP$  title_NN  leaked_VBN  out_RB  ._. 
Mr._NNP  Allen_NNP  's_POS  commissioners_NNS  voted_VBD  to_TO  call_VB  his_PRP$  unread_JJ  speech_NN  ``_``  thoughtless_JJ  ,_,  disgusting_JJ  and_CC  unnecessarily_RB  inflammatory_JJ  ._.  ''_'' 
Commissioner_NNP  Mary_NNP  Francis_NNP  Berry_NNP  said_VBD  it_PRP  was_VBD  ``_``  another_DT  sad_JJ  episode_NN  in_IN  the_DT  saga_NN  of_IN  the_DT  unguided_JJ  missile_NN  who_WP  is_VBZ  chairman_NN  ._.  ''_'' 
Rep._NNP  Don_NNP  Edwards_NNP  ,_,  the_DT  California_NNP  Democrat_NNP  ,_,  warned_VBD  Mr._NNP  Allen_NNP  that_IN  the_DT  speech_NN  would_MD  be_VB  ``_``  outside_IN  the_DT  scope_NN  of_IN  the_DT  commission_NN  's_POS  jurisdiction_NN  ._.  ''_'' 
Thomas_NNP  Stoddard_NNP  ,_,  head_NN  of_IN  the_DT  Lambda_NNP  Legal_NNP  Defense_NNP  Fund_NNP  ,_,  called_VBD  the_DT  prospect_NN  of_IN  the_DT  speech_NN  ``_``  frankly_RB  shocking_JJ  ._.  ''_'' 
We_PRP  've_VBP  actually_RB  read_VB  the_DT  speech_NN  ._. 
Mr._NNP  Allen_NNP  began_VBD  it_PRP  with_IN  a_DT  warning_NN  to_TO  his_PRP$  hosts_NNS  ,_,  a_DT  California_NNP  church_NN  group_NN  that_WDT  opposes_VBZ  rights_NNS  for_IN  homosexuals_NNS  ._. 
He_PRP  said_VBD  that_IN  other_JJ  participants_NNS  in_IN  the_DT  conference_NN  ``_``  do_VBP  not_RB  believe_VB  that_IN  the_DT  rights_NNS  of_IN  Americans_NNPS  should_MD  be_VB  guaranteed_VBN  to_TO  citizens_NNS  who_WP  are_VBP  homosexual_JJ  ,_,  ''_''  but_CC  that_IN  ``_``  I_PRP  mean_VBP  to_TO  persuade_VB  you_PRP  to_TO  the_DT  opposite_JJ  view_NN  ._.  ''_'' 
He_PRP  recalled_VBD  to_TO  the_DT  audience_NN  a_DT  ``_``  strange_JJ  ,_,  infelicitous_JJ  ''_''  analogy_NN  he_PRP  once_RB  heard_VBD  arguing_VBG  ``_``  now_RB  that_IN  we_PRP  have_VBP  finally_RB  recognized_VBN  that_IN  American_JJ  blacks_NNS  have_VBP  rights_NNS  ,_,  we_PRP  need_VBP  to_TO  do_VB  the_DT  same_JJ  for_IN  animals_NNS  ._. 
''_''  Mr._NNP  Allen_NNP  objected_VBD  to_TO  this_DT  analogy_NN  because_IN  it_PRP  seems_VBZ  to_TO  ``_``  assimilate_VB  the_DT  status_NN  of_IN  blacks_NNS  to_TO  that_IN  of_IN  animals_NNS  --_:  as_IN  a_DT  mere_JJ  project_NN  of_IN  charity_NN  ,_,  of_IN  humaneness_NN  ._.  ''_'' 
Rights_NNS  on_IN  such_JJ  a_DT  basis_NN  ,_,  whether_IN  for_IN  blacks_NNS  or_CC  homosexuals_NNS  ,_,  are_VBP  ``_``  mere_JJ  indulgences_NNS  ,_,  ''_''  he_PRP  said_VBD  ,_,  subject_NN  to_TO  being_VBG  taken_VBN  back_RB  ._. 
He_PRP  says_VBZ  the_DT  title_NN  of_IN  his_PRP$  speech_NN  was_VBD  to_TO  make_VB  his_PRP$  point_NN  that_IN  Americans_NNPS  have_VBP  rights_NNS  as_IN  individuals_NNS  ,_,  not_RB  as_IN  members_NNS  of_IN  certain_JJ  select_VB  groups_NNS  ._. 
His_PRP$  speech_NN  criticized_VBD  the_DT  ``_``  idiocy_NN  of_IN  notions_NNS  of_IN  protected_VBN  groups_NNS  in_IN  society_NN  ''_''  as_IN  opposed_VBN  to_TO  individual_JJ  equality_NN  or_CC  ,_,  as_IN  he_PRP  put_VBP  it_PRP  ,_,  in_IN  ``_``  a_DT  common_JJ  destiny_NN  as_IN  Americans_NNPS  ._.  ''_'' 
Instead_RB  of_IN  lobbying_VBG  for_IN  special_JJ  treatment_NN  ,_,  Mr._NNP  Allen_NNP  said_VBD  that_IN  homosexuals_NNS  and_CC  others_NNS  should_MD  try_VB  to_TO  ensure_VB  equal_JJ  treatment_NN  under_IN  the_DT  law_NN  and_CC  not_RB  aim_VB  for_IN  special_JJ  privileges_NNS  that_WDT  would_MD  risk_VB  ``_``  invidious_JJ  retrenchment_NN  with_IN  government_NN  complicity_NN  ._.  ''_'' 
This_DT  hardly_RB  sounds_VBZ  like_IN  an_DT  anti-homosexual_JJ  screed_NN  ._. 
What_WP  's_VBZ  really_RB  going_VBG  on_IN  here_RB  ?_. 
The_DT  three_CD  most_RBS  important_JJ  things_NNS  to_TO  understand_VB  about_IN  Mr._NNP  Allen_NNP  is_VBZ  that_IN  he_PRP  is_VBZ  a_DT  black_JJ  conservative_JJ  intellectual_JJ  --_:  a_DT  triple_JJ  threat_NN  to_TO  the_DT  liberal_JJ  establishment_NN  ._. 
Mr._NNP  Allen_NNP  ,_,  who_WP  teaches_VBZ  government_NN  at_IN  prestigious_JJ  Harvey_NNP  Mudd_NNP  College_NNP  in_IN  California_NNP  and_CC  will_MD  remain_VB  a_DT  member_NN  of_IN  the_DT  commission_NN  ,_,  has_VBZ  spent_VBN  years_NNS  arguing_VBG  that_IN  civil_JJ  rights_NNS  are_VBP  individuals_NNS  '_POS  rights_NNS  ._. 
He_PRP  last_RB  made_VBN  waves_NNS  when_WRB  he_PRP  dared_VBD  to_TO  defend_VB  an_DT  Indian_NNP  girl_NN  who_WP  had_VBD  been_VBN  adopted_VBN  by_IN  non-Indian_JJ  parents_NNS  off_IN  her_PRP$  reservation_NN  ._. 
Mr._NNP  Allen_NNP  quickly_RB  ran_VBD  up_IN  against_IN  the_DT  liberal_JJ  establishment_NN  again_RB  ,_,  which_WDT  somehow_RB  elevated_VBN  the_DT  vague_JJ  concept_NN  of_IN  ``_``  Indian_NNP  rights_NNS  ''_''  above_IN  the_DT  rights_NNS  of_IN  individual_JJ  Indians_NNPS  ._. 
There_EX  is_VBZ  a_DT  huge_JJ  divide_NN  between_IN  Mr._NNP  Allen_NNP  's_POS  we're-all-in-this-together_JJ  view_NN  and_CC  the_DT  divisive_JJ  litigation_NN  approach_NN  of_IN  the_DT  civil_JJ  rights_NNS  groups_NNS  ._. 
Indeed_RB  ,_,  the_DT  gap_NN  is_VBZ  so_RB  large_JJ  that_IN  Mr._NNP  Allen_NNP  's_POS  critics_NNS  refuse_VBP  to_TO  engage_VB  the_DT  debate_NN  ._. 
Their_PRP$  ridicule_NN  of_IN  him_PRP  is_VBZ  no_DT  substitute_NN  for_IN  argument_NN  ._. 
Their_PRP$  effort_NN  to_TO  run_VB  him_PRP  out_IN  of_IN  Washington_NNP  is_VBZ  an_DT  embarrassment_NN  to_TO  the_DT  original_JJ  purpose_NN  of_IN  their_PRP$  own_JJ  movement_NN  ._. 
We_PRP  hope_VBP  the_DT  next_JJ  head_NN  of_IN  the_DT  Civil_NNP  Rights_NNP  Commission_NNP  will_MD  be_VB  as_RB  brave_JJ  as_IN  Mr._NNP  Allen_NNP  in_IN  making_VBG  the_DT  case_NN  for_IN  equality_NN  of_IN  civil_JJ  rights_NNS  ._. 
Bearings_NNP  Inc._NNP  said_VBD  its_PRP$  chairman_NN  ,_,  John_NNP  R._NNP  Cunin_NNP  ,_,  will_MD  retire_VB  as_IN  an_DT  officer_NN  of_IN  the_DT  company_NN  on_IN  Jan._NNP  2_CD  ._. 
George_NNP  L._NNP  LaMore_NNP  ,_,  president_NN  and_CC  chief_JJ  executive_JJ  officer_NN  ,_,  will_MD  become_VB  chairman_NN  and_CC  chief_JJ  executive_NN  upon_IN  Mr._NNP  Cunin_NNP  's_POS  retirement_NN  ._. 
John_NNP  C._NNP  Dannemiller_NNP  ,_,  executive_JJ  vice_NN  president_NN  and_CC  chief_JJ  operating_VBG  officer_NN  ,_,  will_MD  become_VB  president_NN  and_CC  chief_JJ  operating_VBG  officer_NN  ._. 
Mr._NNP  Cunin_NNP  ,_,  65_CD  years_NNS  old_JJ  ,_,  was_VBD  chief_JJ  executive_NN  of_IN  the_DT  distributor_NN  of_IN  bearings_NNS  and_CC  power-transmission_JJ  products_NNS  from_IN  1982_CD  to_TO  1988_CD  ._. 
He_PRP  will_MD  continue_VB  as_IN  a_DT  director_NN  ._. 
Mr._NNP  LaMore_NNP  ,_,  63_CD  ,_,  a_DT  48-year_JJ  veteran_NN  at_IN  Bearings_NNP  ,_,  has_VBZ  been_VBN  president_NN  since_IN  1983_CD  ._. 
Mr._NNP  Dannemiller_NNP  ,_,  51_CD  ,_,  joined_VBD  Bearings_NNP  in_IN  August_NNP  1988_CD  from_IN  Leaseway_NNP  Transportation_NNP  Corp._NNP  ,_,  where_WRB  he_PRP  was_VBD  president_NN  and_CC  chief_JJ  operating_VBG  officer_NN  ._. 
He_PRP  has_VBZ  been_VBN  a_DT  Bearings_NNP  director_NN  since_IN  1985_CD  ._. 
The_DT  appointments_NNS  are_VBP  part_NN  of_IN  a_DT  planned_VBN  succession_NN  at_IN  the_DT  company_NN  ._. 
Soviet_JJ  leader_NN  Mikhail_NNP  Gorbachev_NNP  opened_VBD  a_DT  major_JJ  U.S._NNP  trade_NN  exhibition_NN  in_IN  Moscow_NNP  and_CC  spent_VBD  two_CD  hours_NNS  touring_VBG  some_DT  of_IN  the_DT  150_CD  stalls_NNS  representing_VBG  such_JJ  blue-chip_JJ  companies_NNS  as_IN  General_NNP  Motors_NNPS  Corp._NNP  ,_,  International_NNP  Business_NNP  Machines_NNP  Corp._NNP  and_CC  Johnson_NNP  &_CC  Johnson_NNP  ._. 
At_IN  the_DT  Archer-Daniels-Midland_NNP  Co._NNP  stand_VB  ,_,  Mrs._NNP  Nelson_NNP  Rockefeller_NNP  ,_,  a_DT  board_NN  member_NN  ,_,  offered_VBD  him_PRP  a_DT  soy_NN  burger_NN  ._. 
He_PRP  did_VBD  n't_RB  bite_VB  ._. 
The_DT  exhibition_NN  by_IN  the_DT  U.S.-U.S.S.R._NNP  Trade_NNP  and_CC  Economic_NNP  Council_NNP  underscores_VBZ  the_DT  growing_VBG  U.S._NNP  interest_NN  in_IN  that_DT  nation_NN  's_POS  market_NN  ,_,  though_IN  trade_NN  between_IN  the_DT  two_CD  countries_NNS  is_VBZ  a_DT  minuscule_JJ  $_$  3_CD  billion_CD  ._. 
The_DT  Soviet_JJ  president_NN  and_CC  his_PRP$  prime_JJ  minister_NN  ,_,  Nikolai_NNP  Ryzhkov_NNP  ,_,  spent_VBD  the_DT  longest_JJS  time_NN  ,_,  about_IN  15_CD  minutes_NNS  ,_,  at_IN  the_DT  IBM_NNP  stand_NN  ,_,  where_WRB  they_PRP  got_VBD  souvenir_NN  computer-chip_NN  key_JJ  rings_NNS  ._. 
At_IN  the_DT  GM_NNP  stall_NN  ,_,  they_PRP  barely_RB  looked_VBD  at_IN  a_DT  gleaming_VBG  Cadillac_NNP  ,_,  preferring_VBG  to_TO  talk_VB  about_IN  cooperation_NN  possibilities_NNS  ._. 
In_IN  Beijing_NNP  ,_,  meantime_NN  ,_,  China_NNP  opened_VBD  an_DT  international_JJ  aviation_NN  show_NN  ,_,  but_CC  the_DT  West_NNP  's_POS  embargo_NN  on_IN  military_JJ  deals_NNS  and_CC  uncertainty_NN  about_IN  the_DT  nation_NN  's_POS  stability_NN  kept_VBD  many_JJ  foreign_JJ  exhibitors_NNS  away_RB  ._. 
Officials_NNS  said_VBD  91_CD  companies_NNS  from_IN  14_CD  countries_NNS  ,_,  including_VBG  the_DT  U.S._NNP  ,_,  had_VBD  displays_NNS  ,_,  down_RB  from_IN  about_IN  260_CD  firms_NNS  from_IN  more_JJR  than_IN  20_CD  countries_NNS  at_IN  the_DT  last_JJ  show_NN  in_IN 
Japanese_JJ  air-conditioner_NN  maker_NN  Daikin_NNP  Industries_NNP  Ltd._NNP  was_VBD  fined_VBN  two_CD  million_CD  yen_NN  -LRB-_(  $_$  14,000_CD  -RRB-_)  for_IN  exporting_VBG  to_TO  the_DT  Soviet_NNP  Union_NNP  a_DT  chemical_NN  solution_NN  that_WDT  could_MD  be_VB  used_VBN  in_IN  missile-guidance_JJ  systems_NNS  ._. 
A_DT  Daikin_NNP  executive_NN  in_IN  charge_NN  of_IN  exports_NNS  when_WRB  the_DT  high-purity_NN  halogenated_VBD  hydrocarbon_NN  was_VBD  sold_VBN  to_TO  the_DT  Soviets_NNPS  in_IN  1986_CD  received_VBD  a_DT  suspended_VBN  10-month_JJ  jail_NN  sentence_NN  ._. 
Judge_NNP  Masaaki_NNP  Yoneyama_NNP  told_VBD  the_DT  Osaka_NNP  District_NNP  Court_NNP  Daikin_NNP  's_POS  ``_``  responsibility_NN  is_VBZ  heavy_JJ  because_IN  illegal_JJ  exports_NNS  lowered_VBD  international_JJ  trust_NN  in_IN  Japan_NNP  ._.  ''_'' 
Sale_NNP  of_IN  the_DT  solution_NN  in_IN  concentrated_VBN  form_NN  to_TO  Communist_NNP  countries_NNS  is_VBZ  prohibited_VBN  by_IN  Japanese_JJ  law_NN  and_CC  by_IN  international_JJ  agreement_NN  ._. 
A_DT  Soviet_JJ  legislative_JJ  panel_NN  rejected_VBD  as_IN  not_RB  radical_JJ  enough_RB  a_DT  government_NN  proposal_NN  on_IN  decentralizing_VBG  economic_JJ  control_NN  ._. 
The_DT  newspaper_NN  Leninskoye_NNP  Zamya_NNP  said_VBD  the_DT  committee_NN  decided_VBD  the_DT  plan_NN  to_TO  parcel_VB  out_RP  economic_JJ  powers_NNS  previously_RB  exercised_VBN  by_IN  Moscow_NNP  to_TO  the_DT  country_NN  's_POS  15_CD  republics_NNS  ``_``  does_VBZ  n't_RB  reflect_VB  the_DT  radical_JJ  changes_NNS  in_IN  the_DT  Soviet_JJ  federation_NN  ._.  ''_'' 
The_DT  committee_NN  gave_VBD  the_DT  government_NN  until_IN  Nov._NNP  15_CD  to_TO  revise_VB  the_DT  proposal_NN  ._. 
The_DT  move_NN  reflected_VBD  the_DT  growing_VBG  confidence_NN  of_IN  the_DT  revamped_VBN  Supreme_NNP  Soviet_JJ  ._. 
Scott_NNP  Paper_NNP  Co._NNP  said_VBD  it_PRP  is_VBZ  abandoning_VBG  a_DT  proposed_VBN  $_$  650_CD  million_CD  tree-farming_JJ  project_NN  in_IN  Indonesia_NNP  because_IN  it_PRP  no_RB  longer_RB  expects_VBZ  to_TO  use_VB  as_IN  much_JJ  eucalyptus_NN  pulp_NN  as_IN  previously_RB  anticipated_VBN  ._. 
The_DT  eucalyptus_NN  plantation_NN  and_CC  pulp_NN  mill_NN  ,_,  which_WDT  would_MD  have_VB  covered_VBN  about_IN  175,000_CD  acres_NNS  in_IN  the_DT  Irian_NNP  Jaya_NNP  region_NN  ,_,  had_VBD  been_VBN  approved_VBN  by_IN  Indonesia_NNP  's_POS  investment_NN  board_NN  ._. 
But_CC  it_PRP  was_VBD  opposed_VBN  by_IN  some_DT  environmentalists_NNS  as_IN  a_DT  threat_NN  to_TO  Irian_NNP  Jaya_NNP  's_POS  forests_NNS  and_CC  a_DT  potential_JJ  source_NN  of_IN  social_JJ  unrest_NN  for_IN  the_DT  primitive_JJ  tribes_NNS  who_WP  inhabit_VBP  them_PRP  ._. 
Yaohan_NNP  Departmentstore_NNP  Co._NNP  of_IN  Japan_NNP  is_VBZ  moving_VBG  its_PRP$  international-operations_NNS  headquarters_NN  and_CC  holding_VBG  company_NN  to_TO  Hong_NNP  Kong_NNP  to_TO  gain_VB  from_IN  the_DT  British_JJ  colony_NN  's_POS  economic_JJ  advantages_NNS  and_CC  tax_NN  structure_NN  ._. 
With_IN  funds_NNS  of_IN  5.56_CD  billion_CD  Hong_NNP  Kong_NNP  dollars_NNS  -LRB-_(  US$_$  712_CD  million_CD  -RRB-_)  ,_,  the_DT  new_JJ  company_NN  ,_,  Yaohan_NNP  International_NNP  Co._NNP  ,_,  plans_VBZ  to_TO  acquire_VB  10_CD  of_IN  Hong_NNP  Kong_NNP  's_POS  top_JJ  restaurants_NNS  ._. 
It_PRP  also_RB  intends_VBZ  to_TO  set_VB  up_IN  an_DT  international_JJ  wholesale_JJ  market_NN  with_IN  the_DT  Singapore_NNP  government_NN  next_JJ  May_NNP  and_CC  to_TO  open_VB  a_DT  department_NN  store_NN  in_IN  Bangkok_NNP  and_CC  shopping_NN  centers_NNS  in_IN  Malaysia_NNP  ,_,  Taiwan_NNP  ,_,  Canada_NNP  ,_,  Chicago_NNP  and_CC  Seattle_NNP  by_IN  December_NNP  1990_CD  ._. 
The_DT  chain_NN  currently_RB  has_VBZ  90_CD  retail_JJ  outlets_NNS  in_IN  Japan_NNP  ,_,  seven_CD  in_IN  the_DT  U.S._NNP  ,_,  three_CD  in_IN  Hong_NNP  Kong_NNP  and_CC  a_DT  dozen_NN  more_RBR  scattered_VBN  around_IN  the_DT  globe_NN  ._. 
Major_NNP  European_JJ  auction_NN  houses_NNS  are_VBP  turning_VBG  increasingly_RB  to_TO  specialized_JJ  sales_NNS  ._. 
Christie_NNP  's_POS  will_MD  soon_RB  have_VB  a_DT  sale_NN  of_IN  Dada_NNP  and_CC  Symbolist_NNP  art_NN  while_IN  Sotheby_NNP  's_POS  is_VBZ  luring_VBG  collectors_NNS  with_IN  sales_NNS  of_IN  Swiss_JJ  ,_,  German_JJ  ,_,  Spanish_JJ  ,_,  Australian_JJ  and_CC  Canadian_JJ  paintings_NNS  ._. 
In_IN  Brussels_NNP  ,_,  Hotel_NNP  de_FW  Ventes_NNP  Horta_NNP  auctioned_VBD  pistols_NNS  and_CC  sabers_NNS  -_:  along_IN  with_IN  paintings_NNS  and_CC  jewels_NNS  ._. 
Berlin_NNP  's_POS  Villa_NNP  Grisebach_NNP  will_MD  auction_VB  art_NN  works_NNS  with_IN  pre-sale_JJ  estimates_NNS  of_IN  less_JJR  than_IN  $_$  1,600_CD  on_IN  Nov._NNP  25_CD  ._. 
The_DT  auction_NN  house_NN  ,_,  known_VBN  for_IN  its_PRP$  sales_NNS  of_IN  top-drawer_NN  19th_JJ  and_CC  20th_JJ  century_NN  works_NNS  ,_,  is_VBZ  providing_VBG  ``_``  a_DT  service_NN  to_TO  clients_NNS  who_WP  do_VBP  n't_RB  want_VB  to_TO  sell_VB  just_RB  their_PRP$  fabulous_JJ  oil_NN  paintings_NNS  ,_,  ''_''  says_VBZ  Villa_NNP  Grisebach_NNP  's_POS  Vivien_NNP  Reuter_NNP  ._. 
Antwerp_NNP  auctioneer_NN  Campo_NNP  is_VBZ  less_RBR  concerned_VBN  with_IN  market_NN  niches_NNS  than_IN  with_IN  Belgium_NNP  's_POS  crushing_VBG  tax_NN  and_CC  auction-fee_JJ  burden_NN  ._. 
``_``  Everything_NN  has_VBZ  to_TO  be_VB  the_DT  same_JJ  between_IN  countries_NNS  ,_,  ''_''  says_VBZ  Campo_NNP  's_POS  Stefan_NNP  Campo_NNP  ,_,  who_WP  is_VBZ  asking_VBG  clients_NNS  to_TO  sign_VB  protest_NN  petitions_NNS  ._. 
``_``  Then_RB  there_EX  'll_MD  be_VB  fair_JJ  competition_NN  ._.  ''_'' 
Ending_VBG  tax-free_JJ  shopping_NN  in_IN  the_DT  European_NNP  Community_NNP  after_IN  1992_CD  could_MD  threaten_VB  more_JJR  than_IN  3,000_CD  jobs_NNS  ,_,  the_DT  International_NNP  Duty_NNP  Free_NNP  Confederation_NNP  said_VBD  ._. 
Instead_RB  of_IN  banning_VBG  such_JJ  shopping_NN  ,_,  the_DT  confederation_NN  proposed_VBN  amending_VBG  controls_NNS  to_TO  be_VB  sure_JJ  the_DT  privilege_NN  is_VBZ  n't_RB  abused_VBN  ..._:  ._. 
British_JJ  and_CC  Argentine_JJ  diplomats_NNS  opened_VBD  talks_NNS  in_IN  Madrid_NNP  aimed_VBD  at_IN  restoring_VBG  ties_NNS  severed_VBN  because_IN  of_IN  their_PRP$  1982_CD  war_NN  over_IN  the_DT  Falkland_NNP  Islands_NNPS  ._. 
Britain_NNP  's_POS  U.N._NNP  representative_NN  and_CC  delegation_NN  head_NN  Crispin_NNP  Tickell_NNP  called_VBD  the_DT  first_JJ  meeting_NN  ``_``  good_JJ  ,_,  interesting_JJ  and_CC  businesslike_JJ  ._. 
Polaroid_NNP  Corp._NNP  ,_,  benefiting_VBG  from_IN  staff-reduction_NN  savings_NNS  ,_,  reported_VBD  a_DT  strong_JJ  gain_NN  in_IN  third-quarter_JJ  operating_NN  results_NNS  and_CC  net_JJ  income_NN  of_IN  $_$  29.9_CD  million_CD  ,_,  or_CC  40_CD  cents_NNS  a_DT  share_NN  ,_,  after_IN  preferred-stock_JJ  requirements_NNS  ._. 
Analysts_NNS  said_VBD  the_DT  numbers_NNS  were_VBD  better_JJR  than_IN  expectations_NNS  ,_,  partly_RB  because_IN  of_IN  strong_JJ  profit_NN  margins_NNS  and_CC  a_DT  positive_JJ  foreign-currency_NN  translation_NN  ._. 
However_RB  ,_,  they_PRP  said_VBD  the_DT  company_NN  's_POS  flat_JJ  revenue_NN  was_VBD  a_DT  disappointment_NN  ,_,  and_CC  an_DT  indication_NN  that_IN  sales_NNS  of_IN  Polaroid_NNP  's_POS  new_JJ  conventional_JJ  film_NN  in_IN  the_DT  U.S._NNP  have_VBP  been_VBN  sluggish_JJ  ._. 
Revenue_NN  in_IN  the_DT  third_JJ  quarter_NN  was_VBD  $_$  437.7_CD  million_CD  ,_,  almost_RB  unchanged_JJ  from_IN  $_$  436.3_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
Polaroid_NNP  reported_VBD  operating_VBG  profit_NN  before_IN  taxes_NNS  and_CC  interest_NN  costs_NNS  of_IN  $_$  63.1_CD  million_CD  for_IN  the_DT  third_JJ  quarter_NN  ,_,  more_JJR  than_IN  double_VB  the_DT  year-before_JJ  $_$  24_CD  million_CD  ._. 
Charges_NNS  for_IN  staff_NN  cuts_NNS  and_CC  other_JJ  restructuring_NN  produced_VBD  a_DT  net_JJ  loss_NN  of_IN  $_$  54.1_CD  million_CD  ,_,  or_CC  77_CD  cents_NNS  a_DT  share_NN  ,_,  in_IN  1988_CD  's_POS  third_JJ  quarter_NN  ._. 
``_``  I_PRP  'm_VBP  somewhat_RB  skeptical_JJ  about_IN  the_DT  underlying_VBG  demand_NN  ''_''  for_IN  Polaroid_NNP  products_NNS  ,_,  said_VBD  Michael_NNP  Ellmann_NNP  ,_,  an_DT  analyst_NN  with_IN  Wertheim_NNP  Schroder_NNP  &_CC  Co_NNP  ._. 
``_``  If_IN  you_PRP  believe_VBP  that_IN  a_DT  good_JJ  performance_NN  next_JJ  year_NN  is_VBZ  contingent_JJ  on_IN  an_DT  acceleration_NN  of_IN  revenue_NN  ,_,  there_EX  is_VBZ  n't_RB  a_DT  lot_NN  here_RB  to_TO  base_VB  optimism_NN  on_IN  ._.  ''_'' 
Alex_NNP  Henderson_NNP  ,_,  an_DT  analyst_NN  with_IN  Prudential-Bache_NNP  ,_,  says_VBZ  Polaroid_NNP  officials_NNS  told_VBN  him_PRP  yesterday_NN  that_IN  U.S._NNP  sales_NNS  of_IN  the_DT  company_NN  's_POS  new_JJ  conventional_JJ  film_NN  product_NN  ,_,  introduced_VBN  in_IN  the_DT  second_JJ  quarter_NN  ,_,  have_VBP  been_VBN  ``_``  disappointing_JJ  ''_''  after_IN  a_DT  promising_JJ  start_NN  ._. 
Sam_NNP  Yanes_NNP  ,_,  a_DT  Polaroid_NNP  spokesman_NN  ,_,  said_VBD  ``_``  I_PRP  do_VBP  n't_RB  know_VB  about_IN  disappointing_JJ  ,_,  ''_''  but_CC  added_VBD  that_IN  the_DT  company_NN  has_VBZ  n't_RB  been_VBN  able_JJ  to_TO  get_VB  the_DT  product_NN  on_IN  the_DT  shelves_NNS  of_IN  some_DT  mass-merchandise_NN  ,_,  discount_NN  retailers_NNS  that_IN  it_PRP  had_VBD  hoped_VBN  would_MD  be_VB  carrying_VBG  the_DT  product_NN  already_RB  ._. 
Mr._NNP  Yanes_NNP  said_VBD  the_DT  film_NN  ,_,  One_CD  Film_NNP  ,_,  is_VBZ  currently_RB  carried_VBN  at_IN  about_IN  15,000_CD  retail_JJ  outlets_NNS  ,_,  including_VBG  drugstores_NNS  and_CC  supermarkets_NNS  ._. 
For_IN  the_DT  nine_CD  months_NNS  ,_,  Polaroid_NNP  reported_VBD  earnings_NNS  of_IN  $_$  98.5_CD  million_CD  ,_,  or_CC  $_$  1.27_CD  a_DT  share_NN  ._. 
Last_JJ  year_NN  ,_,  the_DT  company_NN  had_VBD  a_DT  nine-month_JJ  loss_NN  of_IN  $_$  15.1_CD  million_CD  ,_,  or_CC  23_CD  cents_NNS  a_DT  share_NN  ._. 
In_IN  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  composite_JJ  trading_NN  ,_,  Polaroid_NNP  closed_VBD  at_IN  $_$  47_CD  ,_,  up_IN  $_$  1.125_CD  ._. 
Why_WRB  is_VBZ  the_DT  stock_NN  market_NN  suddenly_RB  so_RB  volatile_JJ  ?_. 
Yesterday_NN  ,_,  the_DT  Dow_NNP  Jones_NNP  Industrial_NNP  Average_NNP  did_VBD  a_DT  now_RB  familiar_JJ  dance_NN  :_:  It_PRP  plunged_VBD  60.25_CD  points_NNS  before_IN  lunch_NN  ,_,  with_IN  most_RBS  of_IN  the_DT  drop_NN  occurring_VBG  in_IN  25_CD  minutes_NNS  ._. 
Then_RB  ,_,  it_PRP  rebounded_VBD  to_TO  finish_VB  down_RB  only_RB  18.65_CD  points_NNS  ._. 
And_CC  those_DT  swings_NNS  paled_VBD  beside_IN  Friday_NNP  's_POS  190.58-point_JJ  plunge_NN  and_CC  Monday_NNP  's_POS  88.12-point_JJ  recovery_NN  ._. 
``_``  It_PRP  's_VBZ  madness_NN  --_:  that_IN  in_IN  an_DT  hour_NN  you_PRP  can_MD  whack_VB  off_IN  so_RB  much_JJ  value_NN  ,_,  ''_''  says_VBZ  Stanford_NNP  Calderwood_NNP  ,_,  chairman_NN  of_IN  Trinity_NNP  Investment_NNP  Management_NNP  Corp._NNP  ,_,  Boston_NNP  ._. 
And_CC  ,_,  apparently_RB  ,_,  it_PRP  is_VBZ  here_RB  to_TO  stay_VB  ._. 
Richard_NNP  Bernstein_NNP  ,_,  senior_JJ  quantitative_JJ  analyst_NN  at_IN  Merrill_NNP  Lynch_NNP  &_CC  Co_NNP  ,_,  says_VBZ  ,_,  ``_``  My_PRP$  gut_NN  feel_NN  is_VBZ  that_IN  we_PRP  'll_MD  live_VB  with_IN  those_DT  swings_NNS  for_IN  a_DT  while_NN  ._.  ''_'' 
There_EX  are_VBP  many_JJ  reasons_NNS  for_IN  the_DT  market_NN  's_POS  jumpiness_NN  :_:  new_JJ  trading_NN  vehicles_NNS  such_JJ  as_IN  stock-index_NN  futures_NNS  and_CC  options_NNS  ;_:  computer-driven_JJ  strategies_NNS  like_IN  program_NN  trading_NN  ;_:  and_CC  crowd_NN  psychology_NN  ._. 
But_CC  most_RBS  are_VBP  linked_VBN  by_IN  a_DT  single_JJ  theme_NN  :_:  liquidity_NN  --_:  the_DT  ability_NN  to_TO  get_VB  in_IN  and_CC  out_IN  of_IN  the_DT  market_NN  quickly_RB  ._. 
Prices_NNS  are_VBP  moving_VBG  up_IN  and_CC  down_RB  so_RB  fast_RB  because_IN  investors_NNS  are_VBP  employing_VBG  ways_NNS  to_TO  turn_VB  over_IN  shares_NNS  at_IN  ever-faster_JJ  rates_NNS  and_CC  increasingly_RB  acting_VBG  in_IN  concert_NN  ._. 
``_``  Institutions_NNS  are_VBP  herding_VBG  animals_NNS  ,_,  ''_''  says_VBZ  Peter_NNP  Anderson_NNP  ,_,  who_WP  heads_VBZ  the_DT  pension-fund_NN  management_NN  arm_NN  of_IN  IDS_NNP  Financial_NNP  Services_NNP  Inc_NNP  ._. 
``_``  We_PRP  watch_VBP  the_DT  same_JJ  indicators_NNS  and_CC  listen_VB  to_TO  the_DT  same_JJ  prognosticators_NNS  ._. 
Like_IN  lemmings_NNS  ,_,  we_PRP  tend_VBP  to_TO  move_VB  in_IN  the_DT  same_JJ  direction_NN  at_IN  same_JJ  time_NN  ._.  ''_'' 
And_CC  that_IN  ,_,  naturally_RB  ,_,  exacerbates_VBZ  price_NN  movements_NNS  ._. 
Institutions_NNS  --_:  who_WP  now_JJ  account_NN  for_IN  most_RBS  trading_NN  --_:  count_NN  on_IN  being_VBG  able_JJ  to_TO  buy_VB  and_CC  sell_VB  big_JJ  blocks_NNS  of_IN  stock_NN  at_IN  an_DT  eye-blink_NN  ._. 
But_CC  when_WRB  they_PRP  discover_VBP  that_IN  markets_NNS  are_VBP  n't_RB  always_RB  as_RB  liquid_JJ  as_IN  they_PRP  supposed_VBD  --_:  markets_NNS  jump_VBP  ._. 
On_IN  Monday_NNP  ,_,  for_IN  instance_NN  ,_,  Howard_NNP  Ward_NNP  ,_,  a_DT  principal_NN  at_IN  Scudder_NNP  ,_,  Stevens_NNP  &_CC  Clark_NNP  ,_,  found_VBD  that_IN  ``_``  you_PRP  could_MD  n't_RB  buy_VB  blue-chips_NNS  at_IN  quoted_VBN  prices_NNS  without_IN  paying_VBG  up_IN  ._.  ''_'' 
And_CC  when_WRB  many_JJ  firms_NNS  had_VBD  to_TO  ``_``  pay_VB  up_IN  ,_,  ''_''  Monday_NNP  's_POS  sudden_JJ  rally_NN  was_VBD  sparked_VBN  ._. 
Trading_NN  in_IN  futures_NNS  and_CC  options_NNS  ,_,  some_DT  people_NNS  believe_VBP  ,_,  can_MD  add_VB  to_TO  volatility_NN  ._. 
Investors_NNS  believe_VBP  they_PRP  can_MD  can_MD  rely_VB  on_IN  such_JJ  derivative_JJ  securities_NNS  to_TO  get_VB  in_IN  and_CC  out_IN  of_IN  the_DT  stock_NN  market_NN  without_IN  actually_RB  selling_VBG  any_DT  stocks_NNS  ;_:  that_DT  is_VBZ  ,_,  a_DT  way_NN  of_IN  staying_VBG  liquid_JJ  even_RB  when_WRB  they_PRP  own_JJ  stocks_NNS  ._. 
These_DT  and_CC  other_JJ  modern_JJ  trading_NN  methods_NNS  ``_``  tend_VBP  to_TO  promote_VB  dramatic_JJ  shifts_NNS  in_IN  assets_NNS  ,_,  ''_''  says_VBZ  George_NNP  Douglas_NNP  ,_,  first_JJ  vice_NN  president_NN  at_IN  Drexel_NNP  Burnham_NNP  Lambert_NNP  Inc_NNP  ._. 
``_``  It_PRP  's_VBZ  the_DT  idea_NN  that_IN  what_WP  goes_VBZ  in_IN  easy_JJ  can_MD  come_VB  out_IN  easy_JJ  ''_''  --_:  so_RB  that_IN  bouts_NNS  of_IN  higher_JJR  volatility_NN  get_VB  built_VBN  into_IN  the_DT  stock_NN  market_NN  ._. 
One_CD  new_JJ  investment_NN  style_NN  called_VBN  ``_``  asset_NN  allocation_NN  ''_''  shifts_NNS  portfolio_NN  weightings_NNS  between_IN  stocks_NNS  ,_,  bonds_NNS  and_CC  cash_NN  when_WRB  computer_NN  models_NNS  say_VBP  one_CD  is_VBZ  more_RBR  attractive_JJ  ._. 
For_IN  instance_NN  ,_,  First_NNP  Quadrant_NNP  Corp._NNP  ,_,  an_DT  asset_NN  allocator_NN  based_VBN  in_IN  Morristown_NNP  ,_,  N.J._NNP  ,_,  said_VBD  it_PRP  quickly_RB  boosted_VBD  stock_NN  positions_NNS  in_IN  its_PRP$  ``_``  aggressive_JJ  ''_''  accounts_NNS  to_TO  75_CD  %_NN  from_IN  55_NN  %_NN  to_TO  take_VB  advantage_NN  of_IN  plunging_VBG  prices_NNS  Friday_NNP  ._. 
It_PRP  added_VBD  another_DT  5_NN  %_NN  Monday_NNP  before_IN  stocks_NNS  rallied_VBD  ._. 
When_WRB  they_PRP  did_VBD  ,_,  the_DT  firm_NN  reduced_VBD  those_DT  stock_NN  holdings_NNS  to_TO  about_IN  70_CD  %_NN  ._. 
A_DT  classic_JJ  example_NN  of_IN  institutions_NNS  '_POS  hunger_NN  for_IN  liquidity_NN  is_VBZ  portfolio_NN  insurance_NN  ,_,  now_RB  widely_RB  discredited_VBN  ._. 
Before_IN  the_DT  1987_CD  crash_NN  ,_,  an_DT  estimated_VBN  $_$  60_CD  billion_CD  in_IN  institutional_JJ  money_NN  was_VBD  managed_VBN  under_IN  this_DT  hedging_VBG  technique_NN  ._. 
The_DT  idea_NN  was_VBD  to_TO  ``_``  insure_VB  ''_''  the_DT  value_NN  of_IN  a_DT  portfolio_NN  by_IN  selling_VBG  futures_NNS  when_WRB  stock_NN  prices_NNS  dropped_VBD  --_:  eliminating_VBG  the_DT  need_NN  to_TO  sell_VB  the_DT  stocks_NNS  themselves_PRP  ._. 
But_CC  in_IN  October_NNP  1987_CD  ,_,  when_WRB  portfolio_NN  insurers_NNS  rushed_VBD  to_TO  sell_VB  at_IN  the_DT  same_JJ  time_NN  ,_,  they_PRP  overwhelmed_VBD  both_DT  the_DT  stock_NN  and_CC  futures_NNS  markets_NNS  ._. 
Yet_RB  even_JJ  today_NN  ,_,  institutions_NNS  are_VBP  quietly_RB  practicing_VBG  forms_NNS  of_IN  portfolio_NN  insurance_NN  by_IN  nervously_RB  rushing_VBG  to_TO  and_CC  fro_RB  in_IN  the_DT  markets_NNS  ._. 
Others_NNS  are_VBP  doing_VBG  ``_``  index_NN  arbitrage_NN  ''_''  a_DT  strategy_NN  of_IN  taking_VBG  advantage_NN  of_IN  price_NN  discrepancies_NNS  between_IN  stocks_NNS  and_CC  futures_NNS  ._. 
Unlike_IN  traditional_JJ  buy-and-hold_JJ  strategies_NNS  ,_,  all_DT  of_IN  the_DT  above_IN  require_VB  that_IN  market_NN  makers_NNS  be_VBP  on_IN  hand_NN  to_TO  provide_VB  liquidity_NN  by_IN  buying_VBG  and_CC  selling_VBG  stocks_NNS  in_IN  a_DT  crunch_NN  ._. 
But_CC  institutions_NNS  say_VBP  Wall_NNP  Street_NNP  brokerage_NN  firms_NNS  are_VBP  less_RBR  willing_JJ  to_TO  make_VB  markets_NNS  ._. 
Brokers_NNS  do_VBP  n't_RB  deny_VB  that_DT  ._. 
Wall_NNP  Street_NNP  traders_NNS  say_VBP  that_IN  ,_,  with_IN  institutional_JJ  brokerage_NN  commissions_NNS  far_RB  lower_JJR  than_IN  in_IN  the_DT  1970s_NNS  ,_,  securities_NNS  firms_NNS  ca_MD  n't_RB  afford_VB  to_TO  take_VB  the_DT  risk_NN  of_IN  buying_VBG  too_RB  much_JJ  stock_NN  ._. 
``_``  I_PRP  think_VBP  everyone_NN  's_VBZ  a_DT  little_RB  more_RBR  leery_JJ  ,_,  ''_''  says_VBZ  Jack_NNP  Baker_NNP  ,_,  head_NN  of_IN  equity_NN  trading_NN  at_IN  Shearon_NNP  Lehman_NNP  Hutton_NNP  Inc_NNP  ._. 
``_``  The_DT  institutions_NNS  have_VBP  driven_VBN  -LRB-_(  commission_NN  -RRB-_)  rates_NNS  down_RB  to_TO  the_DT  point_NN  where_WRB  it_PRP  makes_VBZ  no_DT  sense_NN  to_TO  commit_VB  capital_NN  ,_,  ''_''  says_VBZ  Tom_NNP  Gallagher_NNP  ,_,  senior_JJ  executive_JJ  vice_NN  president_NN  in_IN  charge_NN  of_IN  institutional_JJ  trading_NN  at_IN  Oppenheimer_NNP  &_CC  Co_NNP  ._. 
``_``  Why_WRB  should_MD  I_PRP  risk_VB  money_NN  for_IN  a_DT  guy_NN  for_IN  who_WP  's_VBZ  paying_VBG  me_PRP  five_CD  cents_NNS  a_DT  dance_NN  ?_. 
All_DT  you_PRP  get_VBP  is_VBZ  risk_NN  ._.  ''_'' 
Lack_NN  of_IN  liquidity_NN  can_MD  also_RB  result_VB  from_IN  exchange_NN  ``_``  reforms_NNS  ._.  ''_'' 
Many_JJ  traders_NNS  say_VBP  that_IN  ``_``  circuit_NN  breakers_NNS  ''_''  put_VB  in_IN  place_NN  to_TO  damp_VB  volatility_NN  after_IN  the_DT  1987_CD  crash_NN  actually_RB  added_VBD  to_TO  volatility_NN  when_WRB  the_DT  stock_NN  market_NN  plunged_VBD  Friday_NNP  ._. 
The_DT  circuit_NN  breakers_NNS  caused_VBD  a_DT  30-minute_JJ  shutdown_NN  in_IN  trading_NN  in_IN  Standard_NNP  &_CC  Poor_NNP  's_POS  500-stock_JJ  index_NN  futures_NNS  contract_VBP  as_IN  the_DT  markets_NNS  were_VBD  falling_VBG  ._. 
``_``  With_IN  the_DT  futures-trading_JJ  halt_NN  ,_,  you_PRP  could_MD  only_RB  sell_VB  stocks_NNS  ''_''  to_TO  cut_VB  exposure_NN  to_TO  the_DT  market_NN  ,_,  says_VBZ  a_DT  money_NN  manager_NN  ._. 
``_``  It_PRP  was_VBD  scary_JJ  to_TO  people_NNS  thinking_VBG  that_IN  they_PRP  could_MD  n't_RB  get_VB  their_PRP$  trades_NNS  off_IN  ._.  ''_'' 
``_``  It_PRP  was_VBD  like_IN  they_PRP  put_VBP  you_PRP  in_IN  a_DT  room_NN  with_IN  a_DT  gorilla_NN  and_CC  told_VBD  you_PRP  there_EX  were_VBD  three_CD  doors_NNS  to_TO  exit_VB  ,_,  ''_''  said_VBD  one_CD  Chicago-based_JJ  futures_NNS  trader_NN  ._. 
``_``  Then_RB  they_PRP  said_VBD  ,_,  `_``  By_IN  the_DT  way_NN  ,_,  two_CD  of_IN  the_DT  doors_NNS  are_VBP  locked_VBN  ._.  '_''  ''_'' 
The_DT  takeover_NN  mania_NN  also_RB  adds_VBZ  to_TO  volatility_NN  ._. 
UAL_NNP  Corp._NNP  is_VBZ  a_DT  good_JJ  example_NN  ._. 
Valued_VBN  as_IN  a_DT  buy-out_NN  target_NN  ,_,  the_DT  airline_NN  stock_NN  was_VBD  trading_VBG  at_IN  nearly_RB  $_$  280_CD  a_DT  share_NN  ._. 
When_WRB  the_DT  deal_NN  ran_VBD  into_IN  trouble_NN  ,_,  the_DT  stock_NN  tumbled_VBD  ;_:  it_PRP  closed_VBD  at_IN  $_$  198_CD  yesterday_NN  ._. 
Presumably_RB  ,_,  UAL_NNP  is_VBZ  now_JJ  trading_NN  closer_JJR  to_TO  its_PRP$  value_NN  based_VBN  on_IN  earnings_NNS  ._. 
By_IN  contrast_NN  ,_,  traditional_JJ  buy-and-hold_JJ  investors_NNS  are_VBP  unlikely_JJ  to_TO  generate_VB  sudden_JJ  price_NN  moves_NNS  ._. 
Scott_NNP  Black_NNP  ,_,  a_DT  value-oriented_JJ  money_NN  manager_NN  who_WP  heads_VBZ  Delphi_NNP  Management_NNP  Inc._NNP  ,_,  points_VBZ  out_RP  that_IN  for_IN  those_DT  who_WP  invest_VBP  on_IN  fundamentals_NNS  ,_,  ``_``  the_DT  value_NN  of_IN  a_DT  stock_NN  from_IN  day_NN  to_TO  day_NN  does_VBZ  n't_RB  change_VB  all_DT  that_NN  much_NN  ._.  ''_'' 
Some_DT  experts_NNS  say_VBP  markets_NNS  are_VBP  n't_RB  as_RB  volatile_JJ  as_IN  widely_RB  assumed_VBN  ._. 
Hans_NNP  Stoll_NNP  ,_,  finance_NN  professor_NN  at_IN  Vanderbilt_NNP  University_NNP  ,_,  says_VBZ  the_DT  current_JJ  volatility_NN  in_IN  U.S._NNP  markets_NNS  pales_VBZ  in_IN  comparison_NN  to_TO  the_DT  1930s_CD  ,_,  decades_NNS  before_IN  derivative_JJ  instruments_NNS  such_JJ  as_IN  options_NNS  and_CC  futures_NNS  were_VBD  introduced_VBN  ._. 
``_``  I_PRP  just_RB  ca_MD  n't_RB  believe_VB  that_IN  the_DT  innovations_NNS  in_IN  the_DT  financial_JJ  market_NN  are_VBP  causing_VBG  any_DT  of_IN  this_DT  volatility_NN  ,_,  ''_''  he_PRP  says_VBZ  ._. 
And_CC  Robert_NNP  D._NNP  Arnott_NNP  ,_,  president_NN  of_IN  asset_NN  allocator_NN  First_NNP  Quadrant_NNP  ,_,  notes_VBZ  that_IN  before_IN  Friday_NNP  's_POS  tailspin_NN  ,_,  daily_JJ  volatility_NN  on_IN  the_DT  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  in_IN  recent_JJ  weeks_NNS  had_VBD  reached_VBN  ``_``  historically_RB  low_JJ  levels_NNS  ._.  ''_'' 
Some_DT  people_NNS  tend_VBP  to_TO  ignore_VB  that_IN  a_DT  50-point_JJ  move_NN  is_VBZ  less_JJR  in_IN  percentage_NN  terms_NNS  than_IN  it_PRP  was_VBD  when_WRB  the_DT  stock_NN  market_NN  was_VBD  lower_JJR  ._. 
John_NNP  J._NNP  Phelan_NNP  Jr._NNP  ,_,  chairman_NN  of_IN  the_DT  Big_NNP  Board_NNP  ,_,  asserts_VBZ  that_IN  ``_``  1988_CD  and_CC  1989_CD  have_VBP  been_VBN  two_CD  of_IN  the_DT  least_JJS  volatile_JJ  years_NNS  in_IN  the_DT  last_JJ  30_CD  or_CC  40_CD  years_NNS  ._.  ''_'' 
But_CC  the_DT  low_JJ  average_JJ  volatility_NN  Mr._NNP  Phelan_NNP  is_VBZ  talking_VBG  about_IN  is_VBZ  n't_RB  any_DT  comfort_NN  in_IN  a_DT  period_NN  of_IN  rapid_JJ  stock-market_NN  moves_NNS  like_IN  the_DT  past_JJ  week_NN  ._. 
In_IN  addition_NN  ,_,  Sanford_NNP  Grossman_NNP  ,_,  a_DT  Wharton_NNP  School_NNP  finance_NN  professor_NN  ,_,  says_VBZ  volatile_JJ  jumps_NNS  in_IN  stock_NN  prices_NNS  will_MD  continue_VB  as_RB  long_RB  as_IN  liquidity_NN  falls_VBZ  short_NN  of_IN  the_DT  voracious_JJ  demands_NNS  of_IN  institutions_NNS  ``_``  who_WP  can_MD  go_VB  out_IN  and_CC  say_VBP  `_``  I_PRP  have_VBP  a_DT  billion_CD  dollars_NNS  of_IN  stocks_NNS  to_TO  sell_VB  ._.  '_''  ''_'' 
Some_DT  people_NNS  think_VBP  the_DT  search_NN  for_IN  liquidity_NN  is_VBZ  fruitless_JJ  ._. 
In_IN  1936_CD  ,_,  John_NNP  Maynard_NNP  Keynes_NNP  wrote_VBD  that_IN  ``_``  of_IN  the_DT  maxims_NNS  of_IN  orthodox_JJ  finance_NN  none_NN  ,_,  surely_RB  ,_,  is_VBZ  more_RBR  antisocial_JJ  than_IN  the_DT  fetish_NN  of_IN  liquidity_NN  ._.  ''_'' 
It_PRP  leads_VBZ  investors_NNS  to_TO  focus_VB  on_IN  short-term_JJ  price_NN  movements_NNS  --_:  ``_``  a_DT  game_NN  of_IN  musical_JJ  chairs_NNS  ,_,  ''_''  he_PRP  called_VBD  it_PRP  --_:  rather_RB  than_IN  on_IN  long-term_JJ  fundamental_JJ  valuation_NN  ._. 
James_NNP  A._NNP  White_NNP  contributed_VBD  to_TO  this_DT  article_NN  ._. 
The_DT  National_NNP  Aeronautics_NNP  and_CC  Space_NNP  Administration_NNP  said_VBD  a_DT  computer_NN  virus_NN  has_VBZ  infected_VBN  one_CD  of_IN  its_PRP$  networks_NNS  and_CC  is_VBZ  spreading_VBG  anti-nuclear_JJ  messages_NNS  related_VBN  to_TO  its_PRP$  Galileo_NNP  space_NN  probe_NN  ,_,  which_WDT  is_VBZ  to_TO  be_VB  launched_VBN  today_NN  ._. 
Charles_NNP  Redmond_NNP  ,_,  a_DT  NASA_NNP  spokesman_NN  ,_,  said_VBD  the_DT  agency_NN  discovered_VBD  the_DT  virus_NN  on_IN  Monday_NNP  on_IN  the_DT  collection_NN  of_IN  computer_NN  networks_NNS  collectively_RB  called_VBN  Internet_NNP  and_CC  expected_VBN  100_CD  university_NN  centers_NNS  to_TO  be_VB  infected_VBN  by_IN  today_NN  ._. 
Although_IN  the_DT  network_NN  is_VBZ  n't_RB  connected_VBN  to_TO  the_DT  computer_NN  systems_NNS  that_WDT  operate_VBP  either_DT  Galileo_NNP  or_CC  the_DT  shuttle_NN  ,_,  part_NN  of_IN  the_DT  network_NN  will_MD  carry_VB  analyses_NNS  of_IN  Galileo_NNP  data_NNS  once_RB  the_DT  craft_NN  gets_VBZ  spaceborn_JJ  ._. 
Mr._NNP  Redmond_NNP  said_VBD  the_DT  intruder_NN  had_VBD  n't_RB  yet_RB  done_VBN  any_DT  harm_NN  but_CC  the_DT  agency_NN  feared_VBD  ``_``  garbage_NN  data_NNS  could_MD  be_VB  substituted_VBN  for_IN  real_JJ  data_NNS  ._.  ''_'' 
He_PRP  estimated_VBD  it_PRP  could_MD  take_VB  a_DT  day_NN  for_IN  a_DT  computer_NN  security_NN  manager_NN  to_TO  expunge_VB  the_DT  virus_NN  from_IN  a_DT  computer_NN  system_NN  ._. 
The_DT  intruder_NN  ,_,  among_IN  the_DT  broadest_JJS  yet_RB  to_TO  hit_VB  a_DT  research_NN  network_NN  ,_,  appeared_VBD  to_TO  affect_VB  only_RB  Digital_NNP  Equipment_NNP  Corp._NNP  hardware_NN  that_WDT  uses_VBZ  Digital_NNP  's_POS  VAX\/VMS_NNP  operating_VBG  system_NN  ._. 
It_PRP  is_VBZ  unrelated_JJ  to_TO  the_DT  much-publicized_JJ  virus_NN  that_IN  last_JJ  year_NN  infected_VBN  Arpanet_NNP  ,_,  a_DT  much_RB  larger_JJR  network_NN  used_VBN  by_IN  researchers_NNS  at_IN  universities_NNS  ,_,  laboratories_NNS  and_CC  government_NN  agencies_NNS  around_IN  the_DT  world_NN  ._. 
In_IN  the_DT  lingo_NN  of_IN  computer_NN  security_NN  ,_,  the_DT  NASA_NNP  intruder_NN  is_VBZ  technically_RB  a_DT  computer_NN  worm_NN  ,_,  Mr._NNP  Redmond_NNP  said_VBD  ._. 
A_DT  worm_NN  resides_VBZ  in_IN  the_DT  operating_VBG  system_NN  of_IN  a_DT  computer_NN  and_CC  spreads_VBZ  by_IN  boring_JJ  into_IN  other_JJ  computers_NNS  contacted_VBN  through_IN  networks_NNS  ._. 
The_DT  Galileo_NNP  worm_NN  apparently_RB  was_VBD  hatched_VBN  on_IN  a_DT  computer_NN  in_IN  France_NNP  hooked_VBD  up_IN  to_TO  NASA_NNP  's_POS  Space_NNP  Physics_NNP  Analysis_NNP  Network_NNP  ,_,  Mr._NNP  Redmond_NNP  said_VBD  ._. 
NASA_NNP  said_VBD  the_DT  Galileo_NNP  worm_NN  had_VBD  n't_RB  affected_VBN  its_PRP$  computers_NNS  or_CC  the_DT  computers_NNS  of_IN  other_JJ  government_NN  agencies_NNS  because_IN  they_PRP  had_VBD  modified_VBN  their_PRP$  systems_NNS  to_TO  reject_VB  worms_NNS  ._. 
But_CC  Mr._NNP  Redmond_NNP  said_VBD  the_DT  worm_NN  hit_VBD  universities_NNS  that_WDT  had_VBD  n't_RB  elected_VBN  to_TO  make_VB  the_DT  changes_NNS  ._. 
Michael_NNP  Alexander_NNP  ,_,  a_DT  senior_JJ  editor_NN  at_IN  Computerworld_NNP  ,_,  a_DT  trade_NN  publication_NN  ,_,  said_VBD  he_PRP  was_VBD  told_VBN  that_IN  the_DT  worm_NN  gets_VBZ  into_IN  a_DT  computer_NN  center_NN  by_IN  looking_VBG  for_IN  obvious_JJ  passwords_NNS  --_:  such_JJ  as_IN  ones_NNS  that_WDT  are_VBP  the_DT  same_JJ  as_IN  the_DT  user_NN  's_POS  name_NN  ._. 
If_IN  it_PRP  finds_VBZ  one_CD  and_CC  gets_VBZ  into_IN  the_DT  system_NN  ,_,  it_PRP  will_MD  display_VB  a_DT  screen_NN  when_WRB  a_DT  user_NN  logs_NNS  on_IN  that_DT  says_VBZ  ,_,  ``_``  Worms_NNPS  Against_IN  Nuclear_NNP  Killers_NNPS  ..._:  ._. 
You_PRP  talk_VBP  of_IN  times_NNS  of_IN  peace_NN  for_IN  all_DT  ,_,  and_CC  then_RB  prepare_VB  for_IN  war_NN  ._.  ''_'' 
In_IN  addition_NN  ,_,  Mr._NNP  Alexander_NNP  said_VBD  ,_,  the_DT  worm_NN  sends_VBZ  strange_JJ  messages_NNS  to_TO  other_JJ  machines_NNS  at_IN  the_DT  center_NN  --_:  such_JJ  as_IN  ,_,  ``_``  George_NNP  Orwell_NNP  was_VBD  an_DT  optimist_NN  ,_,  ''_''  or_CC  ``_``  Do_VBP  n't_RB  feed_VB  the_DT  bats_NNS  tonight_RB  ._.  ''_'' 
The_DT  worm_NN  also_RB  looks_VBZ  for_IN  elementary_JJ  passwords_NNS  that_WDT  confer_VBP  more_JJR  privileges_NNS  on_IN  the_DT  user_NN  ._. 
The_DT  passwords_NNS  are_VBP  included_VBN  in_IN  the_DT  system_NN  software_NN  when_WRB  it_PRP  is_VBZ  installed_VBN  but_CC  are_VBP  supposed_VBN  to_TO  be_VB  replaced_VBN  as_RB  soon_RB  as_IN  the_DT  system_NN  is_VBZ  up_IN  and_CC  running_VBG  ._. 
If_IN  it_PRP  finds_VBZ  one_CD  of_IN  those_DT  passwords_NNS  ,_,  Mr._NNP  Alexander_NNP  said_VBD  ,_,  the_DT  worm_NN  will_MD  do_VB  such_JJ  things_NNS  as_IN  change_NN  users_NNS  '_POS  passwords_NNS  to_TO  a_DT  series_NN  of_IN  random_JJ  numbers_NNS  ,_,  preventing_VBG  them_PRP  from_IN  signing_VBG  on_IN  to_TO  the_DT  network_NN  ._. 
NASA_NNP  estimated_VBD  that_IN  ,_,  on_IN  Monday_NNP  ,_,  about_IN  four_CD  computer_NN  centers_NNS  were_VBD  affected_VBN  ._. 
Yesterday_NN  ,_,  the_DT  number_NN  grew_VBD  to_TO  40_CD  ;_:  today_NN  the_DT  number_NN  is_VBZ  expected_VBN  to_TO  grow_VB  to_TO  100_CD  ._. 
NASA_NNP  said_VBD  it_PRP  will_MD  take_VB  about_IN  a_DT  week_NN  before_IN  it_PRP  knows_VBZ  exactly_RB  how_WRB  many_JJ  centers_NNS  of_IN  the_DT  6,000_CD  connected_VBN  to_TO  Internet_NNP  were_VBD  affected_VBN  and_CC  the_DT  extent_NN  of_IN  the_DT  damage_NN  ,_,  if_IN  any_DT  ._. 
Anti-nuclear_JJ  activists_NNS  have_VBP  protested_VBN  the_DT  launch_NN  of_IN  the_DT  Galileo_NNP  space_NN  probe_NN  to_TO  Jupiter_NNP  because_IN  it_PRP  uses_VBZ  plutonium_NN  to_TO  generate_VB  the_DT  electricity_NN  needed_VBN  to_TO  run_VB  the_DT  craft_NN  ._. 
Activists_NNS  fear_VBP  that_IN  if_IN  the_DT  shuttle_NN  carrying_VBG  Galileo_NNP  into_IN  orbit_NN  should_MD  explode_VB  ,_,  or_CC  if_IN  Galileo_NNP  itself_PRP  crashes_VBZ  into_IN  the_DT  Earth_NNP  during_IN  the_DT  two_CD  times_NNS  it_PRP  flies_VBZ  close_RB  to_TO  the_DT  planet_NN  ,_,  fatal_JJ  levels_NNS  of_IN  plutonium_NN  would_MD  be_VB  released_VBN  into_IN  the_DT  atmosphere_NN  ._. 
So_RB  far_RB  Galileo_NNP  has_VBZ  been_VBN  delayed_VBN  twice_RB  ,_,  once_RB  because_IN  of_IN  a_DT  computer_NN  malfunction_NN  connected_VBN  with_IN  a_DT  space-shuttle_NN  engine_NN  ,_,  and_CC  yesterday_NN  because_IN  of_IN  the_DT  weather_NN  ._. 
NASA_NNP  said_VBD  the_DT  Galileo_NNP  worm_NN  had_VBD  nothing_NN  to_TO  do_VB  with_IN  either_DT  delay_NN  ._. 
Mr._NNP  Alexander_NNP  of_IN  Computerworld_NNP  said_VBD  hackers_NNS  have_VBP  gone_VBN  after_IN  SPAN_NNP  before_RB  ._. 
He_PRP  said_VBD  the_DT  Chaos_NNP  Computer_NNP  Club_NNP  ,_,  of_IN  West_NNP  Germany_NNP  ,_,  once_RB  managed_VBD  to_TO  invade_VB  SPAN_NNP  and_CC  do_VBP  such_JJ  things_NNS  as_IN  change_NN  the_DT  value_NN  of_IN  pi_NN  ,_,  messing_VBG  up_IN  some_DT  calculations_NNS  ._. 
It_PRP  is_VBZ  now_RB  a_DT  commonplace_NN  that_IN  prosecutors_NNS  are_VBP  bringing_VBG  criminal_JJ  indictments_NNS  in_IN  cases_NNS  where_WRB  until_IN  a_DT  few_JJ  years_NNS  ago_RB  only_RB  a_DT  civil_JJ  action_NN  at_IN  most_RBS  would_MD  have_VB  been_VBN  brought_VBN  ._. 
Yet_RB  it_PRP  is_VBZ  also_RB  axiomatic_JJ  that_IN  the_DT  power_NN  to_TO  create_VB  new_JJ  crimes_NNS  belongs_VBZ  only_RB  to_TO  the_DT  legislature_NN  ,_,  and_CC  not_RB  to_TO  courts_NNS  ._. 
Beginning_VBG  in_IN  the_DT  early_JJ  19th_JJ  century_NN  ,_,  with_IN  U.S._NNP  v._CC  Hudson_NNP  and_CC  Goodwin_NNP  ,_,  the_DT  Supreme_NNP  Court_NNP  has_VBZ  repeatedly_RB  held_VBN  that_IN  a_DT  judicial_JJ  power_NN  to_TO  declare_VB  conduct_NN  to_TO  be_VB  against_IN  the_DT  public_JJ  interest_NN  and_CC  hence_RB  criminal_JJ  ,_,  while_IN  well_RB  established_VBN  in_IN  British_JJ  law_NN  ,_,  would_MD  usurp_VB  legislative_JJ  authority_NN  under_IN  the_DT  doctrine_NN  of_IN  separation_NN  of_IN  powers_NNS  ._. 
That_DT  's_VBZ  the_DT  conventional_JJ  theory_NN  anyway_RB  ._. 
In_IN  practice_NN  ,_,  however_RB  ,_,  the_DT  line_NN  between_IN  interpretation_NN  and_CC  redefinition_NN  of_IN  the_DT  criminal_JJ  law_NN  long_JJ  ago_RB  began_VBD  to_TO  blur_VB  ._. 
In_IN  particular_JJ  ,_,  a_DT  common_JJ  law_NN  of_IN  white-collar_JJ  crime_NN  has_VBZ  developed_VBN  with_IN  surprising_JJ  rapidity_NN  over_IN  the_DT  past_JJ  decade_NN  ._. 
For_IN  example_NN  ,_,  although_IN  insider_NN  trading_NN  has_VBZ  long_RB  been_VBN  criminal_JJ  ,_,  it_PRP  has_VBZ  never_RB  been_VBN  statutorily_RB  defined_VBN  ._. 
In_IN  1983_CD  ,_,  the_DT  Supreme_NNP  Court_NNP  tried_VBD  to_TO  supply_VB  a_DT  workable_JJ  definition_NN  in_IN  the_DT  Dirks_NNP  v._CC  SEC_NNP  decision_NN  ,_,  which_WDT  found_VBD  that_DT  liability_NN  depended_VBD  on_IN  whether_IN  the_DT  tipper_NN  had_VBD  breached_VBN  his_PRP$  fiduciary_JJ  duty_NN  to_TO  the_DT  corporation_NN  in_IN  order_NN  to_TO  obtain_VB  ``_``  some_DT  personal_JJ  gain_NN  ''_''  and_CC  whether_IN  the_DT  tippee_NN  knew_VBD  or_CC  recklessly_RB  disregarded_VBD  this_DT  fact_NN  ._. 
Gradually_RB  ,_,  however_RB  ,_,  lower_JJR  courts_NNS  and_CC  prosecutors_NNS  have_VBP  pushed_VBN  this_DT  definition_NN  to_TO  its_PRP$  breaking_NN  point_NN  ._. 
Consider_VB  the_DT  facts_NNS  underlying_VBG  the_DT  1989_CD  conviction_NN  of_IN  Robert_NNP  Chestman_NNP  ._. 
Prior_RB  to_TO  a_DT  tender_NN  offer_NN  by_IN  A&P_NNP  for_IN  Waldbaum_NNP  Inc._NNP  in_IN  1986_CD  ,_,  the_DT  founder_NN  of_IN  the_DT  Waldbaum_NNP  's_POS  supermarket_NN  chain_NN  called_VBD  an_DT  elderly_JJ  relative_JJ  to_TO  tell_VB  her_PRP$  to_TO  assemble_VB  her_PRP$  stock_NN  certificates_NNS  for_IN  delivery_NN  ._. 
She_PRP  called_VBD  her_PRP$  daughter_NN  to_TO  take_VB  her_PRP$  to_TO  the_DT  bank_NN  ,_,  who_WP  ,_,  in_IN  turn_NN  ,_,  persuaded_VBD  her_PRP$  husband_NN  ,_,  a_DT  Mr._NNP  Loeb_NNP  ,_,  to_TO  run_VB  this_DT  errand_NN  ._. 
Hearing_NNP  of_IN  this_DT  information_NN  ,_,  the_DT  husband_NN  discussed_VBD  it_PRP  with_IN  his_PRP$  broker_NN  ,_,  Mr._NNP  Chestman_NNP  ,_,  and_CC  Mr._NNP  Chestman_NNP  then_RB  bought_VBD  for_IN  his_PRP$  own_JJ  account_NN  and_CC  other_JJ  clients_NNS  ._. 
Basically_RB  ,_,  Mr._NNP  Chestman_NNP  was_VBD  a_DT  fourth-level_JJ  tippee_NN  ._. 
Did_VBD  Mr._NNP  Loeb_NNP  ,_,  his_PRP$  tipper_NN  ,_,  breach_NN  a_DT  fiduciary_JJ  duty_NN  -LRB-_(  and_CC  ,_,  if_IN  so_RB  ,_,  to_TO  whom_WP  -RRB-_)  ?_. 
Did_VBD  Mr._NNP  Loeb_NNP  seek_VB  personal_JJ  gain_NN  -LRB-_(  and_CC  if_IN  so_RB  ,_,  how_WRB  -RRB-_)  ?_. 
Or_CC  did_VBD  Mr._NNP  Chestman_NNP  only_RB  hear_VB  a_DT  market_NN  rumor_NN  -LRB-_(  which_WDT  one_PRP  may_MD  lawfully_RB  trade_VB  upon_IN  -RRB-_)  ?_. 
The_DT  line_NN  seems_VBZ  awfully_RB  thin_JJ  for_IN  criminal-law_NN  purposes_NNS  ._. 
A_DT  second_JJ  illustration_NN  is_VBZ  supplied_VBN  by_IN  the_DT  recent_JJ  guilty_JJ  plea_NN  entered_VBN  by_IN  Robert_NNP  Freeman_NNP  ,_,  formerly_RB  head_VBP  of_IN  arbitrage_NN  at_IN  Goldman_NNP  ,_,  Sachs_NNP  &_CC  Co_NNP  ._. 
Essentially_RB  ,_,  Mr._NNP  Freeman_NNP  had_VBD  invested_VBN  heavily_RB  in_IN  the_DT  Beatrice_NNP  leveraged_JJ  buy-out_NN  ,_,  when_WRB  he_PRP  was_VBD  told_VBN  by_IN  another_DT  prominent_JJ  trader_NN  ,_,  Bernard_NNP  ``_``  Bunny_NNP  ''_''  Lasker_NNP  ,_,  that_IN  the_DT  deal_NN  was_VBD  in_IN  trouble_NN  ._. 
After_IN  placing_VBG  orders_NNS  to_TO  sell_VB  ,_,  Mr._NNP  Freeman_NNP  called_VBD  Martin_NNP  Siegel_NNP  ,_,  an_DT  investment_NN  banker_NN  at_IN  Kidder_NNP  ,_,  Peabody_NNP  &_CC  Co._NNP  ,_,  who_WP  was_VBD  advising_VBG  on_IN  the_DT  deal_NN  ,_,  to_TO  confirm_VB  these_DT  rumors_NNS  ._. 
Mr._NNP  Siegel_NNP  asked_VBD  Mr._NNP  Freeman_NNP  who_WP  his_PRP$  source_NN  was_VBD  and_CC  ,_,  on_IN  hearing_NN  that_IN  it_PRP  was_VBD  Bunny_NNP  Lasker_NNP  ,_,  responded_VBD  :_:  ``_``  Well_UH  ,_,  your_PRP$  bunny_NN  has_VBZ  a_DT  good_JJ  nose_NN  ._.  ''_'' 
The_DT  illegal_JJ  ``_``  tip_NN  ''_''  of_IN  the_DT  bunny_NN  's_POS  good_JJ  nose_NN  was_VBD  then_RB  largely_RB  a_DT  confirmation_NN  of_IN  rumors_NNS  already_RB  known_VBN  to_TO  many_VB  in_IN  the_DT  market_NN  ._. 
Had_VBD  the_DT  case_NN  gone_VBN  to_TO  trial_VB  the_DT  same_JJ  issues_NNS  would_MD  have_VB  surfaced_VBN  :_: 
Was_VBD  there_EX  a_DT  fiduciary_JJ  breach_NN  in_IN  order_NN  to_TO  obtain_VB  personal_JJ  gain_NN  ?_. 
Did_VBD  Mr._NNP  Freeman_NNP  have_VBP  notice_NN  of_IN  this_DT  ?_. 
Finally_RB  ,_,  was_VBD  the_DT  information_NN  material_NN  ?_. 
Yet_RB  ,_,  all_PDT  these_DT  issues_NNS  are_VBP  subsidiary_NN  to_TO  a_DT  more_RBR  central_JJ  issue_NN  :_:  Who_WP  is_VBZ  and_CC  who_WP  should_MD  be_VB  making_VBG  the_DT  criminal_JJ  law_NN  here_RB  ?_. 
It_PRP  is_VBZ  not_RB  my_PRP$  contention_NN  that_IN  either_DT  Mr._NNP  Chestman_NNP  or_CC  Mr._NNP  Freeman_NNP  was_VBD  an_DT  innocent_JJ  victim_NN  of_IN  prosecutorial_JJ  overzealousness_NN  ._. 
Arguably_RB  ,_,  both_DT  were_VBD  on_IN  notice_NN  that_IN  their_PRP$  behavior_NN  was_VBD  at_IN  least_JJS  risky_JJ  ._. 
But_CC  even_RB  if_IN  they_PRP  behaved_VBD  recklessly_RB  ,_,  reasons_NNS  still_RB  exist_VBP  to_TO  fear_VB  and_CC  resist_VB  this_DT  steady_JJ  process_NN  of_IN  case-by-case_JJ  judicial_JJ  extension_NN  of_IN  the_DT  law_NN  of_IN  insider_NN  trading_NN  ._. 
Courts_NNS  and_CC  legislatures_NNS  make_VBP  decisions_NNS  in_IN  very_RB  different_JJ  ways_NNS  and_CC  are_VBP  each_DT  susceptible_JJ  to_TO  very_RB  different_JJ  kinds_NNS  of_IN  errors_NNS  ._. 
After-the-fact_JJ  judicial_JJ  examination_NN  of_IN  an_DT  actor_NN  's_POS  conduct_NN  has_VBZ  always_RB  been_VBN  the_DT  common_JJ  law_NN  's_POS  method_NN  ._. 
When_WRB  only_RB  civil_JJ  liability_NN  is_VBZ  involved_VBN  ,_,  this_DT  method_NN  has_VBZ  the_DT  undeniable_JJ  strengths_NNS  of_IN  factual_JJ  specificity_NN  and_CC  avoidance_NN  of_IN  overgeneralization_NN  ._. 
Still_RB  ,_,  case-by-case_JJ  retrospective_NN  decision_NN  making_VBG  of_IN  this_DT  sort_NN  is_VBZ  vulnerable_JJ  to_TO  the_DT  tunnel_NN  vision_NN  caused_VBN  by_IN  a_DT  fixation_NN  on_IN  ad_NN  hoc_FW  -LRB-_(  and_CC  usually_RB  sleazy_JJ  -RRB-_)  examples_NNS  ._. 
When_WRB  a_DT  court_NN  decides_VBZ  that_IN  a_DT  particular_JJ  actor_NN  's_POS  conduct_NN  was_VBD  culpable_JJ  and_CC  so_RB  extends_VBZ  the_DT  definition_NN  of_IN  insider_NN  trading_NN  to_TO  reach_VB  this_DT  conduct_NN  ,_,  it_PRP  does_VBZ  not_RB  see_VB  the_DT  potentially_RB  enormous_JJ  number_NN  of_IN  other_JJ  cases_NNS  that_WDT  will_MD  be_VB  covered_VBN  by_IN  the_DT  expanded_VBN  rule_NN  ._. 
Thus_RB  ,_,  a_DT  court_NN  is_VBZ  poorly_RB  positioned_VBN  to_TO  make_VB  judgments_NNS  about_IN  the_DT  social_JJ  utility_NN  of_IN  the_DT  expanded_VBN  rule_NN  ._. 
For_IN  example_NN  ,_,  in_IN  focusing_VBG  on_IN  Mr._NNP  Freeman_NNP  's_POS  attempt_NN  to_TO  gain_VB  nonpublic_JJ  information_NN  about_IN  a_DT  deal_NN  's_POS  collapse_NN  ,_,  one_CD  does_VBZ  not_RB  naturally_RB  think_VB  about_IN  the_DT  reverse_NN  side_NN  of_IN  the_DT  coin_NN  :_:  What_WP  if_IN  the_DT  rumor_NN  had_VBD  been_VBN  false_JJ  ?_. 
Can_MD  a_DT  security_NN  analyst_NN  call_NN  an_DT  investment_NN  banker_NN  to_TO  make_VB  certain_JJ  that_IN  a_DT  seemingly_RB  improbable_JJ  rumor_NN  is_VBZ  in_IN  fact_NN  false_JJ  ?_. 
In_IN  the_DT  past_NN  ,_,  not_RB  only_RB  would_MD  reputable_JJ  professionals_NNS  have_VB  rushed_VBN  to_TO  check_VB  out_RP  such_JJ  rumors_NNS  with_IN  the_DT  company_NN  ,_,  but_CC  companies_NNS  listed_VBN  on_IN  the_DT  major_JJ  stock_NN  exchanges_NNS  were_VBD  encouraged_VBN  by_IN  the_DT  exchanges_NNS  to_TO  respond_VB  openly_RB  to_TO  such_JJ  inquiries_NNS  from_IN  securities_NNS  analysts_NNS  ._. 
Today_NN  ,_,  after_IN  Mr._NNP  Freeman_NNP  's_POS  plea_NN  ,_,  there_EX  is_VBZ  an_DT  uncertainty_NN  that_WDT  is_VBZ  both_DT  unfair_JJ  and_CC  inefficient_JJ  ._. 
In_IN  this_DT  light_NN  ,_,  the_DT  comparative_JJ  advantages_NNS  of_IN  legislative_JJ  law-making_NNS  become_VBP  clear_JJ  :_:  -LRB-_(  1_CD  -RRB-_)  Before_IN  it_PRP  acts_VBZ  ,_,  the_DT  legislature_NN  typically_RB  will_MD  hear_VB  the_DT  views_NNS  of_IN  representatives_NNS  of_IN  all_PDT  those_DT  affected_VBN  by_IN  its_PRP$  decision_NN  ,_,  not_RB  just_RB  the_DT  immediate_JJ  parties_NNS  before_IN  the_DT  court_NN  ;_:  and_CC  -LRB-_(  2_CD  -RRB-_)  the_DT  legislature_NN  can_MD  frame_VB  ``_``  bright_JJ  line_NN  ''_''  standards_NNS  that_WDT  create_VBP  less_JJR  uncertainty_NN  than_IN  the_DT  fact-bound_JJ  decisions_NNS  of_IN  courts_NNS  ._. 
Although_IN  legislative_JJ  lines_NNS  can_MD  result_VB  in_IN  under-inclusion_NN  -LRB-_(  which_WDT  explains_VBZ  why_WRB  the_DT  SEC_NNP  has_VBZ  long_RB  resisted_VBN  a_DT  legislative_JJ  definition_NN  of_IN  insider_NN  trading_NN  -RRB-_)  ,_,  judicial_JJ  lawmaking_JJ  inevitably_RB  creates_VBZ  uncertainty_NN  because_IN  of_IN  the_DT  shadowy_JJ  outer_JJ  edges_NNS  and_CC  implications_NNS  of_IN  most_RBS  judicial_JJ  decisions_NNS  ._. 
At_IN  least_JJS  when_WRB  the_DT  stakes_NNS  are_VBP  high_JJ  ,_,  uncertainty_NN  in_IN  turn_NN  results_NNS  in_IN  overinclusion_NN  ,_,  as_IN  individuals_NNS  do_VBP  not_RB  dare_VB  to_TO  approach_VB  an_DT  uncertain_JJ  line_NN  closely_RB  ._. 
The_DT  federal_JJ  mail_NN  and_CC  wire_NN  fraud_NN  statutes_NNS  provide_VBP  even_RB  better_JJR  illustrations_NNS  of_IN  the_DT  rapid_JJ  evolution_NN  of_IN  a_DT  federal_JJ  common_JJ  law_NN  of_IN  white-collar_JJ  crime_NN  ._. 
In_IN  1987_CD  ,_,  the_DT  Supreme_NNP  Court_NNP  attempted_VBD  in_IN  McNally_NNP  v._CC  U.S._NNP  to_TO  halt_VB  the_DT  inexorable_JJ  expansion_NN  of_IN  these_DT  statutes_NNS  by_IN  adopting_VBG  a_DT  rule_NN  of_IN  strict_JJ  construction_NN  for_IN  ambiguous_JJ  criminal_JJ  statues_NNS  ._. 
Yet_RB  ,_,  late_JJ  last_JJ  year_NN  ,_,  Congress_NNP  effectively_RB  reversed_VBD  this_DT  decision_NN  by_IN  enacting_VBG  a_DT  one-sentence_JJ  statute_NN  that_WDT  defined_VBD  fraud_NN  to_TO  include_VB  any_DT  scheme_NN  to_TO  deprive_VB  another_DT  of_IN  ``_``  the_DT  intangible_JJ  right_NN  of_IN  honest_JJ  services_NNS  ._.  ''_'' 
At_IN  a_DT  stroke_NN  ,_,  this_DT  may_MD  criminalize_VB  all_DT  fiduciary_JJ  breaches_NNS  -LRB-_(  and_CC  possibly_RB  all_DT  misrepresentations_NNS  by_IN  an_DT  agent_NN  or_CC  employee_NN  -RRB-_)  ._. 
Such_JJ  a_DT  statute_NN  illustrates_VBZ  the_DT  fundamental_JJ  problem_NN  :_:  Congress_NNP  finds_VBZ  it_PRP  is_VBZ  easier_JJR  to_TO  pass_VB  sweepingly_RB  moralistic_JJ  prohibitions_NNS  ,_,  which_WDT  the_DT  courts_NNS  must_MD  thereafter_RB  interpret_VB  ,_,  than_IN  to_TO  engage_VB  in_IN  the_DT  difficult_JJ  line-drawing_JJ  distinctions_NNS  that_WDT  are_VBP  inherently_RB  its_PRP$  responsibility_NN  ._. 
We_PRP  are_VBP  confronted_VBN  less_JJR  with_IN  a_DT  judicial_JJ  power_NN  grab_NN  than_IN  with_IN  a_DT  legislative_JJ  giveaway_NN  ._. 
Predictably_RB  ,_,  when_WRB  confronted_VBN  with_IN  morally_RB  dubious_JJ  behavior_NN  ,_,  prosecutors_NNS  will_MD  exploit_VB  the_DT  latitude_NN  such_JJ  openended_VBN  statutes_NNS  give_VBP  them_PRP  ._. 
Over_IN  the_DT  long_JJ  run_NN  ,_,  however_RB  ,_,  sleazy_JJ  cases_NNS  will_MD  make_VB  bad_JJ  law_NN  ._. 
Mr._NNP  Coffee_NNP  is_VBZ  a_DT  professor_NN  at_IN  Columbia_NNP  Law_NNP  School_NNP  ._. 
Corning_NNP  Inc._NNP  posted_VBD  a_DT  38_CD  %_NN  decline_NN  in_IN  third-quarter_JJ  net_JJ  income_NN  to_TO  $_$  76.5_CD  million_CD  ,_,  or_CC  80_CD  cents_NNS  a_DT  share_NN  ,_,  from_IN  $_$  123.9_CD  million_CD  ,_,  or_CC  $_$  1.37_CD  a_DT  share_NN  ,_,  a_DT  year_NN  earlier_RBR  ._. 
The_DT  year-earlier_JJ  figure_NN  included_VBD  a_DT  one-time_JJ  gain_NN  of_IN  $_$  59.9_CD  million_CD  from_IN  the_DT  sale_NN  of_IN  Corning_NNP  's_POS  stakes_NNS  in_IN  Japanese_JJ  businesses_NNS  ._. 
Without_IN  the_DT  gain_NN  ,_,  operating_VBG  profit_NN  was_VBD  $_$  64_CD  million_CD  ,_,  or_CC  71_CD  cents_NNS  a_DT  share_NN  ._. 
The_DT  telecommunications_NNS  ,_,  specialty_NN  glass_NN  ,_,  ceramic_JJ  products_NNS  and_CC  laboratory-services_JJ  concern_NN  said_VBD  the_DT  latest_JJS  quarter_NN  included_VBD  a_DT  tax-loss_NN  carry-forward_NN  of_IN  $_$  600,000_CD  ._. 
A_DT  year_NN  earlier_RBR  ,_,  net_NN  included_VBD  a_DT  $_$  700,000_CD  taxlow_NN  carry-forward_NN  ._. 
Sales_NNS  rose_VBD  14_CD  %_NN  to_TO  $_$  715_CD  million_CD  from_IN  $_$  625.4_CD  million_CD  ._. 
Corning_NNP  's_POS  chairman_NN  and_CC  chief_JJ  executive_JJ  officer_NN  ,_,  James_NNP  R._NNP  Houghton_NNP  ,_,  said_VBD  operating_VBG  performance_NN  continued_VBD  to_TO  be_VB  strong_JJ  in_IN  the_DT  telecommunications_NNS  and_CC  health_NN  and_CC  science_NN  segments_NNS  ._. 
But_CC  the_DT  specialty-material_JJ  segment_NN  slowed_VBD  somewhat_RB  and_CC  consumer_NN  products_NNS  continued_VBD  below_IN  expectations_NNS  ._. 
As_IN  for_IN  joint_JJ  ventures_NNS  ,_,  Mr._NNP  Houghton_NNP  said_VBD  profit_NN  was_VBD  ``_``  essentially_RB  flat_JJ  ''_''  due_JJ  primarily_RB  to_TO  a_DT  slow_JJ  recovery_NN  at_IN  Samsung-Corning_NNP  Co._NNP  in_IN  Korea_NNP  following_VBG  a_DT  strike_NN  at_IN  a_DT  major_JJ  customer_NN  and_CC  the_DT  disruption_NN  of_IN  shipments_NNS  to_TO  China_NNP  ._. 
Also_RB  ,_,  profit_NN  was_VBD  hurt_VBN  by_IN  the_DT  strength_NN  of_IN  the_DT  dollar_NN  overseas_JJ  which_WDT  negatively_RB  affected_VBN  the_DT  company_NN  's_POS  currency-exchange_JJ  rate_NN  ._. 
In_IN  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  composite_JJ  trading_NN  ,_,  Corning_NNP  closed_VBD  at_IN  $_$  38.50_CD  ,_,  down_RB  75_CD  cents_NNS  ._. 
UAL_NNP  ,_,  the_DT  hair-trigger_JJ  stock_NN  that_WDT  exploded_VBD  Friday_NNP  's_POS  market_NN  bombshell_NN  ,_,  briefly_NN  traumatized_VBD  traders_NNS  again_RB  yesterday_NN  ._. 
Within_IN  10_CD  minutes_NNS  after_IN  an_DT  11:13_CD  a.m._NN  trading_NN  halt_NN  in_IN  UAL_NNP  ,_,  parent_NN  of_IN  United_NNP  Airlines_NNPS  ,_,  the_DT  Dow_NNP  Jones_NNP  Industrial_NNP  Average_NNP  plunged_VBD  nearly_RB  27_CD  points_NNS  to_TO  a_DT  60.25-point_JJ  deficit_NN  ._. 
Computer-guided_JJ  buying_NN  then_RB  kicked_VBD  in_IN  ,_,  and_CC  the_DT  industrials_NNS  regained_VBD  27_CD  points_NNS  in_IN  five_CD  minutes_NNS  ._. 
The_DT  lightning_NN  moves_NNS  show_VBP  that_IN  the_DT  stock_NN  market_NN  remains_VBZ  fragile_JJ  and_CC  volatile_JJ  --_:  ready_JJ  to_TO  jump_VB  at_IN  the_DT  slightest_JJS  rumor_NN  --_:  a_DT  few_JJ  days_NNS  after_IN  its_PRP$  shocking_JJ  190.58-point_JJ  plunge_NN  ._. 
Nervous_JJ  investors_NNS  continued_VBD  to_TO  limit_VB  their_PRP$  buying_NN  to_TO  blue-chip_JJ  stocks_NNS  while_IN  dumping_VBG  takeover-related_JJ  issues_NNS  ._. 
The_DT  industrial_JJ  average_NN  closed_VBD  down_RB  18.65_CD  ,_,  to_TO  2638.73_CD  ._. 
New_NNP  York_NNP  Stock_NNP  Exchange_NNP  volume_NN  was_VBD  a_DT  heavy_JJ  224,070,000_CD  shares_NNS  ._. 
Decliners_NNS  on_IN  the_DT  Big_NNP  Board_NNP  outnumbered_VBD  advancers_NNS  ,_,  931_CD  to_TO  658_CD  ._. 
UAL_NNP  was_VBD  watched_VBN  closely_RB  and_CC  traded_VBN  heavily_RB  ._. 
The_DT  stock_NN  tumbled_VBD  24_CD  7\/8_CD  to_TO  198_CD  on_IN  volume_NN  of_IN  2.8_CD  million_CD  shares_NNS  ._. 
The_DT  market_NN  is_VBZ  still_RB  very_RB  touchy_JJ  about_IN  rumors_NNS  and_CC  news_NN  on_IN  pending_VBG  takeovers_NNS  ._. 
UAL_NNP  ,_,  which_WDT  is_VBZ  trying_VBG  to_TO  reconstruct_VB  a_DT  buy-out_NN  bid_NN  that_IN  banks_NNS  would_MD  n't_RB  finance_VB  ,_,  represents_VBZ  the_DT  future_NN  of_IN  one_CD  of_IN  the_DT  most_RBS  powerful_JJ  ingredients_NNS  in_IN  the_DT  bull_NN  market_NN  -_:  corporate_JJ  restructuring_NN  ._. 
An_DT  important_JJ  element_NN  of_IN  this_DT  phenomenon_NN  --_:  the_DT  now-shaky_JJ  market_NN  for_IN  junk_NN  bonds_NNS  ,_,  used_VBD  often_RB  to_TO  finance_VB  restructurings_NNS  and_CC  takeovers_NNS  --_:  continued_VBD  to_TO  cast_VB  a_DT  pall_NN  over_IN  stocks_NNS  ._. 
``_``  It_PRP  was_VBD  a_DT  very_RB  nervous_JJ  day_NN  ,_,  ''_''  said_VBD  John_NNP  Geary_NNP  ,_,  partner_NN  of_IN  the_DT  Big_NNP  Board_NNP  specialist_NN  firm_NN  Ziebarth_NNP  ,_,  Geary_NNP  ._. 
The_DT  volatility_NN  wo_MD  n't_RB  end_VB  soon_RB  ._. 
This_DT  Friday_NNP  brings_VBZ  the_DT  ``_``  double_JJ  witching_JJ  hour_NN  ,_,  ''_''  Wall_NNP  Street_NNP  's_POS  nickname_NN  for_IN  the_DT  monthly_JJ  simultaneous_JJ  expiration_NN  of_IN  a_DT  variety_NN  of_IN  stock_NN  index_NN  futures_NNS  ,_,  index_NN  options_NNS  and_CC  options_NNS  on_IN  individual_JJ  stocks_NNS  ._. 
Traders_NNS  are_VBP  already_RB  buckling_VBG  their_PRP$  seat_NN  belts_NNS  ._. 
Previous_JJ  monthly_JJ  expirations_NNS  of_IN  the_DT  Major_NNP  Market_NNP  Index_NNP  futures_NNS  and_CC  Standard_NNP  &_CC  Poor_NNP  's_POS  100-stock_JJ  index_NN  options_NNS  have_VBP  produced_VBN  spectacular_JJ  volatility_NN  ._. 
``_``  We_PRP  are_VBP  in_IN  one_CD  of_IN  those_DT  phases_NNS  where_WRB  you_PRP  are_VBP  going_VBG  to_TO  get_VB  a_DT  lot_NN  of_IN  volatile_JJ  expiration_NN  action_NN  ,_,  ''_''  said_VBD  Donald_NNP  Selkin_NNP  ,_,  head_NN  of_IN  stock-index_NN  research_NN  at_IN  Prudential-Bache_NNP  Securities_NNP  ._. 
Investors_NNS  were_VBD  buying_VBG  yesterday_NN  ,_,  but_CC  they_PRP  were_VBD  running_VBG  scared_VBN  to_TO  premier_NN  blue_JJ  chips_NNS  such_JJ  as_IN  Procter_NNP  &_CC  Gamble_NNP  ,_,  which_WDT  jumped_VBD  3_CD  3\/8_CD  to_TO  127_CD  ._. 
Investors_NNS  ``_``  are_VBP  buying_VBG  stocks_NNS  that_WDT  have_VBP  predictable_JJ  earnings_NNS  ,_,  ''_''  said_VBD  Edward_NNP  J._NNP  Laux_NNP  ,_,  head_NN  of_IN  block_NN  trading_NN  at_IN  Kidder_NNP  Peabody_NNP  ._. 
Along_IN  the_DT  way_NN  ,_,  investors_NNS  dumped_VBD  takeover_NN  stocks_NNS  and_CC  shares_NNS  of_IN  banks_NNS  that_WDT  have_VBP  leveraged-buy-out_JJ  debt_NN  and_CC  risky_JJ  real_JJ  estate_NN  loans_NNS  on_IN  their_PRP$  books_NNS  ._. 
``_``  These_DT  loans_NNS  are_VBP  more_JJR  of_IN  a_DT  focus_NN  than_IN  lesser-developed-country_JJ  debt_NN  now_RB  ,_,  ''_''  said_VBD  William_NNP  Bee_NNP  ,_,  senior_JJ  block_NN  trader_NN  at_IN  Prudential-Bache_NNP  Securities_NNP  ._. 
Chase_NNP  Manhattan_NNP  ,_,  which_WDT  sold_VBD  14_CD  million_CD  additional_JJ  shares_NNS  at_IN  40_CD  1\/8_CD  Monday_NNP  through_IN  an_DT  underwriting_NN  group_NN  led_VBN  by_IN  Goldman_NNP  Sachs_NNP  ,_,  closed_VBD  down_RB  1\/8_CD  to_TO  40_CD  ._. 
Citicorp_NNP  fell_VBD  1\/2_CD  to_TO  32_CD  ,_,  and_CC  Manufacturers_NNP  Hanover_NNP  slipped_VBD  3\/8_CD  to_TO  40_CD  1\/4_CD  ._. 
Chase_NNP  and_CC  Citicorp_NNP  's_POS  Citibank_NNP  are_VBP  involved_VBN  in_IN  the_DT  UAL_NNP  buy-out_NN  financing_NN  ._. 
Both_DT  Citicorp_NNP  and_CC  Manufacturers_NNP  Hanover_NNP  reported_VBD  earnings_NNS  yesterday_NN  ._. 
In_IN  the_DT  first_JJ  hour_NN  of_IN  trading_NN  ,_,  about_IN  one_CD  million_CD  shares_VBZ  a_DT  minute_NN  changed_VBD  hands_NNS  on_IN  the_DT  Big_NNP  Board_NNP  as_IN  big_JJ  stock-index_NN  arbitrage_NN  sell_NN  programs_NNS  pushed_VBD  prices_NNS  lower_JJR  ._. 
-LRB-_(  In_IN  stock-index_NN  arbitrage_NN  ,_,  traders_NNS  buy_VBP  or_CC  sell_VB  big_JJ  baskets_NNS  of_IN  stocks_NNS  against_IN  offsetting_VBG  positions_NNS  in_IN  futures_NNS  ._.  -RRB-_) 
Traders_NNS  said_VBD  many_NN  of_IN  the_DT  sell_NN  programs_NNS  are_VBP  positions_NNS  being_VBG  established_VBN  ahead_RB  of_IN  this_DT  Friday_NNP  's_POS  expiration_NN  ._. 
Aside_RB  from_IN  computer-guided_JJ  selling_NN  ,_,  airline_NN  stocks_NNS  took_VBD  a_DT  beating_NN  as_IN  well_RB  ._. 
The_DT  Dow_NNP  Jones_NNP  Transportation_NNP  Average_NNP  fell_VBD  49.96_CD  to_TO  close_VB  at_IN  1254.27_CD  ._. 
AMR_NNP  ,_,  the_DT  parent_NN  of_IN  American_NNP  Airlines_NNPS  ,_,  continued_VBD  to_TO  retreat_VB  in_IN  the_DT  wake_NN  of_IN  New_NNP  York_NNP  developer_NN  Donald_NNP  Trump_NNP  's_POS  decision_NN  to_TO  withdraw_VB  his_PRP$  $_$  120-a-share_JJ  takeover_NN  bid_NN  ._. 
The_DT  stock_NN  fell_VBD  3_CD  1\/4_CD  to_TO  73_CD  1\/4_CD  on_IN  3.4_CD  million_CD  shares_NNS  ._. 
Delta_NNP  Air_NNP  Lines_NNPS  fell_VBD  1_CD  7\/8_CD  to_TO  67_CD  7\/8_CD  ,_,  USAir_NNP  Group_NNP  dropped_VBD  3\/4_CD  to_TO  40_CD  1\/4_CD  ,_,  Southwest_NNP  Airlines_NNPS  dipped_VBD  1\/2_CD  to_TO  25_CD  and_CC  Alaska_NNP  Air_NNP  Group_NNP  slid_VBD  3\/8_CD  to_TO  24_CD  1\/4_CD  ._. 
But_CC  Texas_NNP  Air_NNP  ,_,  the_DT  owner_NN  of_IN  Continental_NNP  and_CC  Eastern_NNP  airlines_NNS  ,_,  bucked_VBD  the_DT  group_NN  's_POS  decline_NN  by_IN  rising_VBG  7\/8_CD  to_TO  14_CD  5\/8_CD  in_IN  American_NNP  Stock_NNP  Exchange_NNP  trading_NN  ._. 
Eastern_NNP  said_VBD  it_PRP  is_VBZ  ahead_RB  of_IN  schedule_NN  in_IN  resuming_VBG  its_PRP$  operations_NNS  after_IN  filing_NN  earlier_RBR  this_DT  year_NN  for_IN  Chapter_NN  11_CD  bankruptcy_NN  protection_NN  ,_,  from_IN  which_WDT  it_PRP  expects_VBZ  to_TO  emerge_VB  early_JJ  next_JJ  year_NN  ._. 
Philip_NNP  Morris_NNP  ,_,  the_DT  most_RBS  active_JJ  Big_NNP  Board_NNP  issue_NN  for_IN  the_DT  second_JJ  consecutive_JJ  session_NN  ,_,  was_VBD  unchanged_JJ  at_IN  43_CD  1\/4_CD  on_IN  3.9_CD  million_CD  shares_NNS  ._. 
Other_JJ  blue-chip_JJ  consumer_NN  issues_NNS  also_RB  fared_VBD  relatively_RB  well_RB  :_:  PepsiCo_NNP  rose_VBD  1_CD  3\/8_CD  to_TO  58_CD  1\/2_CD  ;_:  Coca-Cola_NNP  Co._NNP  was_VBD  unchanged_JJ  at_IN  66_CD  3\/4_CD  ;_:  McDonald_NNP  's_POS  also_RB  closed_VBD  unchanged_JJ  at_IN  30_CD  1\/2_CD  ,_,  and_CC  Merck_NNP  rose_VBD  1\/2_CD  to_TO  75_CD  1\/4_CD  ._. 
Broader_JJR  averages_NNS  also_RB  fell_VBD  ._. 
Standard_NNP  &_CC  Poor_NNP  's_POS  500-stock_JJ  index_NN  fell_VBD  1.69_CD  to_TO  341.16_CD  ,_,  and_CC  the_DT  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  Composite_NNP  Index_NNP  fell_VBD  0.88_CD  to_TO  188.89_CD  ._. 
Among_IN  the_DT  takeover-related_JJ  stocks_NNS  that_WDT  sold_VBD  off_IN  yesterday_NN  were_VBD  Disney_NNP  ,_,  which_WDT  closed_VBD  down_RB  2_CD  1\/8_CD  to_TO  121_CD  1\/4_CD  ._. 
Philips_NNP  Industries_NNPS  tumbled_VBD  3\/8_CD  to_TO  22_CD  7\/8_CD  ;_:  Hilton_NNP  Hotels_NNPS  fell_VBD  2_CD  1\/2_CD  to_TO  92_CD  and_CC  Holiday_NNP  Corp._NNP  fell_VBD  2_CD  1\/8_CD  to_TO  69_CD  7\/8_CD  ._. 
Among_IN  other_JJ  blue_JJ  chips_NNS  ,_,  Exxon_NNP  gained_VBD  1\/8_CD  to_TO  45_CD  1\/2_CD  ._. 
International_NNP  Paper_NNP  fell_VBD  1_CD  3\/8_CD  to_TO  51_CD  1\/2_CD  ,_,  Union_NNP  Carbide_NNP  eased_VBD  7\/8_CD  to_TO  25_CD  ,_,  Chevron_NNP  gained_VBD  1\/8_CD  to_TO  64_CD  ,_,  and_CC  Eastman_NNP  Kodak_NNP  closed_VBD  down_RB  3\/4_CD  to_TO  44_CD  1\/4_CD  ._. 
The_DT  only_JJ  industry_NN  group_NN  to_TO  show_VB  a_DT  gain_NN  from_IN  the_DT  industrial_JJ  average_NN  's_POS  record_NN  high_JJ  on_IN  Oct._NNP  9_CD  is_VBZ  restaurants_NNS  ._. 
Among_IN  the_DT  three_CD  worst-performing_JJ  groups_NNS  ,_,  with_IN  declines_NNS  of_IN  10_CD  %_NN  to_TO  20_CD  %_NN  ,_,  are_VBP  airlines_NNS  ,_,  casinos_NNS  and_CC  securities_NNS  brokers_NNS  ._. 
Trading_NN  also_RB  was_VBD  heavy_JJ  in_IN  the_DT  over-the-counter_JJ  market_NN  ._. 
The_DT  Nasdaq_NNP  composite_JJ  index_NN  closed_VBD  down_RB  1.05_CD  to_TO  459.93_CD  on_IN  volume_NN  of_IN  161.5_CD  million_CD  shares_NNS  ._. 
``_``  The_DT  environment_NN  is_VBZ  a_DT  lot_NN  more_RBR  trading-oriented_JJ  ,_,  ''_''  said_VBD  Gary_NNP  Rosenbach_NNP  ,_,  manager_NN  of_IN  equity_NN  trading_NN  at_IN  the_DT  OTC_NNP  stock_NN  firm_NN  Needham_NNP  &_CC  Co._NNP  in_IN  New_NNP  York_NNP  ._. 
``_``  Because_IN  there_EX  is_VBZ  a_DT  lot_NN  more_JJR  volatility_NN  now_RB  ,_,  if_IN  guys_NNS  see_VBP  that_IN  they_PRP  can_MD  make_VB  a_DT  quick_JJ  10_CD  %_NN  or_CC  15_CD  %_NN  profit_NN  ,_,  they_PRP  'll_MD  take_VB  it_PRP  ._.  ''_'' 
Compaq_NNP  Computer_NNP  gained_VBD  2_CD  1\/8_CD  to_TO  103_CD  3\/4_CD  on_IN  two_CD  million_CD  shares_NNS  ,_,  reflecting_VBG  market_NN  optimism_NN  about_IN  the_DT  prospects_NNS  for_IN  its_PRP$  newly_RB  introduced_VBN  notebook-sized_JJ  computer_NN  ._. 
B.F._NNP  Goodrich_NNP  dropped_VBD  1_CD  3\/8_CD  to_TO  49_CD  1\/8_CD  ._. 
The_DT  company_NN  's_POS  third-quarter_JJ  earnings_NNS  were_VBD  below_IN  both_DT  analysts_NNS  '_POS  forecasts_NNS  and_CC  the_DT  year-earlier_JJ  level_NN  ._. 
Blue_NNP  Arrow_NNP  added_VBD  1\/2_CD  to_TO  17_CD  1\/4_CD  ._. 
The_DT  British_JJ  company_NN  plans_NNS  to_TO  change_VB  its_PRP$  name_NN  to_TO  Manpower_NNP  ,_,  the_DT  name_NN  of_IN  its_PRP$  U.S._NNP  unit_NN  ,_,  and_CC  write_VB  off_IN  part_NN  of_IN  nearly_RB  $_$  1.2_CD  billion_CD  in_IN  good_JJ  will_NN  as_IN  a_DT  possible_JJ  prelude_NN  to_TO  reincorporating_VBG  in_IN  the_DT  U.S._NNP  ._. 
Dravo_NNP  rose_VBD  5\/8_CD  to_TO  16_CD  1\/8_CD  ._. 
Shearson_NNP  Lehman_NNP  Hutton_NNP  began_VBD  its_PRP$  coverage_NN  of_IN  the_DT  company_NN  with_IN  favorable_JJ  ratings_NNS  ._. 
Intertan_NNP  jumped_VBD  2_CD  1\/4_CD  to_TO  56_CD  7\/8_CD  ._. 
The_DT  company_NN  reported_VBD  that_IN  earnings_NNS  from_IN  operations_NNS  for_IN  the_DT  September_NNP  quarter_NN  were_VBD  up_IN  about_IN  25_CD  %_NN  from_IN  a_DT  year_NN  earlier_RBR  ._. 
Bay_NNP  Financial_NNP  ,_,  which_WDT  said_VBD  it_PRP  may_MD  be_VB  forced_VBN  to_TO  file_VB  under_IN  Chapter_NN  11_CD  if_IN  it_PRP  ca_MD  n't_RB  reach_VB  an_DT  agreement_NN  with_IN  its_PRP$  lenders_NNS  to_TO  relieve_VB  its_PRP$  debt_NN  burden_NN  ,_,  plunged_VBD  1_CD  3\/8_CD  to_TO  2_CD  1\/8_CD  ._. 
The_DT  Amex_NNP  Market_NNP  Value_NNP  Index_NNP  fell_VBD  1.25_CD  to_TO  375.16_CD  ._. 
Volume_NN  totaled_VBD  16,800,000_CD  shares_NNS  ._. 
Among_IN  active_JJ  Amex_NNP  issues_NNS  ,_,  the_DT  American_JJ  depositary_NN  receipts_NNS  of_IN  B.A.T_NNP  Industries_NNPS  fell_VBD  1\/4_CD  to_TO  11_CD  3\/4_CD  on_IN  turnover_NN  of_IN  885,800_CD  ._. 
Investment_NN  bankers_NNS  and_CC  retailers_NNS  said_VBD  the_DT  turmoil_NN  on_IN  Wall_NNP  Street_NNP  may_MD  benefit_VB  managers_NNS  who_WP  plan_VBP  to_TO  bid_VB  for_IN  U.S._NNP  retailing_NN  units_NNS  of_IN  the_DT  British_JJ  firm_NN  because_IN  takeover_NN  prices_NNS  may_MD  not_RB  be_VB  as_RB  high_JJ  as_IN  before_IN  the_DT  recent_JJ  correction_NN  ._. 
Fruit_NNP  of_IN  the_DT  Loom_NNP  slipped_VBD  1\/8_CD  to_TO  12_CD  3\/8_CD  on_IN  501,200_CD  shares_NNS  ._. 
DWG_NNP  Corp._NNP  jumped_VBD  1_CD  1\/4_CD  to_TO  15_CD  on_IN  454,100_CD  shares_NNS  ._. 
Carnival_NNP  Cruise_NNP  Lines_NNP  Class_NNP  A_DT  dropped_VBD  1_CD  to_TO  21_CD  1\/8_CD  on_IN  331,400_CD  shares_NNS  ._. 
Amex_NNP  issues_NNS  with_IN  big_JJ  percentage_NN  price_NN  gains_NNS  included_VBD  two_CD  Eastern_NNP  Air_NNP  Lines_NNPS  preferred_JJ  stocks_NNS  ,_,  reacting_VBG  to_TO  the_DT  news_NN  about_IN  improved_VBN  recovery_NN  in_IN  flight_NN  schedules_NNS  after_IN  the_DT  company_NN  filed_VBN  for_IN  bankruptcy_NN  protection_NN  ._. 
Eastern_NNP  's_POS  Class_NNP  F_NN  preferred_JJ  rose_VBD  12_CD  %_NN  ,_,  or_CC  1_CD  1\/4_CD  ,_,  to_TO  11_CD  3\/4_CD  ;_:  the_DT  Class_NNP  E_NN  preferred_JJ  gained_VBD  7_CD  %_NN  ,_,  or_CC  5\/8_CD  ,_,  to_TO  10_CD  1\/4_CD  ._. 
The_DT  biggest_JJS  percentage_NN  gainer_NN  on_IN  the_DT  Amex_NNP  was_VBD  Enviropact_NNP  ,_,  which_WDT  jumped_VBD  23_CD  %_NN  ,_,  or_CC  5\/8_CD  ,_,  to_TO  3_CD  3\/8_CD  on_IN  volume_NN  of_IN  29,000_CD  shares_NNS  ._. 
On_IN  Monday_NNP  ,_,  the_DT  company_NN  ,_,  a_DT  provider_NN  of_IN  environmental_JJ  consulting_NN  services_NNS  ,_,  reported_VBD  a_DT  wider_RBR  fiscal_JJ  fourth-quarter_JJ  loss_NN  and_CC  predicted_VBD  a_DT  loss_NN  for_IN  its_PRP$  fiscal_JJ  1990_CD  first_JJ  quarter_NN  ,_,  but_CC  said_VBD  a_DT  profit_NN  is_VBZ  expected_VBN  for_IN  all_DT  of_IN  fiscal_JJ  1990_CD  ._. 
But_CC  its_PRP$  auditor_NN  ,_,  Ernst_NNP  &_CC  Young_NNP  ,_,  said_VBD  Enviropact_NNP  's_POS  financial_JJ  situation_NN  raises_VBZ  ``_``  substantial_JJ  doubt_NN  about_IN  its_PRP$  ability_NN  to_TO  continue_VB  as_IN  a_DT  going_VBG  concern_NN  ._.  ''_'' 
Mission_NNP  Resource_NNP  Partners_NNPS  advanced_VBD  8_CD  %_NN  ,_,  or_CC  1_CD  3\/8_CD  ,_,  to_TO  18_CD  7\/8_CD  ._. 
Sonja_NNP  Steptoe_NNP  and_CC  David_NNP  Wilson_NNP  contributed_VBD  to_TO  this_DT  article_NN  ._. 
ONE_CD  LIBERTY_NNP  PROPERTIES_NNPS  Inc._NNP  declared_VBD  a_DT  dividend_NN  of_IN  40_CD  cents_NNS  a_DT  share_NN  on_IN  its_PRP$  $_$  16.50_CD  cumulative_JJ  convertible_JJ  preferred_JJ  stock_NN  ,_,  payable_JJ  Jan._NNP  2_CD  to_TO  stock_VB  of_IN  record_NN  Dec._NNP  8_CD  ._. 
But_CC  directors_NNS  of_IN  the_DT  Great_NNP  Neck_NNP  ,_,  N.Y._NNP  ,_,  real_JJ  estate_NN  investment_NN  trust_NN  did_VBD  n't_RB  act_VB  on_IN  the_DT  common_JJ  stock_NN  dividend_NN  ._. 
And_CC  they_PRP  wo_MD  n't_RB  consider_VB  such_JJ  a_DT  dividend_NN  ,_,  the_DT  trust_NN  added_VBD  ,_,  before_IN  results_NNS  are_VBP  available_JJ  for_IN  the_DT  first_JJ  quarter_NN  of_IN  1990_CD  ._. 
In_IN  part_NN  ,_,  the_DT  trust_NN  cited_VBD  the_DT  need_NN  to_TO  retain_VB  cash_NN  for_IN  possible_JJ  acquisitions_NNS  ._. 
According_VBG  to_TO  a_DT  spokesman_NN  ,_,  One_CD  Liberty_NNP  will_MD  have_VB  paid_VBN  out_RP  as_IN  dividends_NNS  the_DT  required_VBN  amount_NN  of_IN  its_PRP$  taxable_JJ  income_NN  to_TO  maintain_VB  its_PRP$  legal_JJ  status_NN  as_IN  a_DT  real_JJ  estate_NN  investment_NN  trust_NN  ._. 
Banks_NNS  are_VBP  continuing_VBG  to_TO  go_VB  after_IN  individual_JJ  investors_NNS  ,_,  despite_IN  falling_VBG  interest_NN  rates_NNS  ._. 
Yields_NNS  on_IN  small-denomination_NN  certificates_NNS  of_IN  deposit_NN  fell_VBD  at_IN  about_IN  half_PDT  the_DT  rate_NN  of_IN  so-called_JJ  jumbo_JJ  CDs_NNS  this_DT  week_NN  ,_,  according_VBG  to_TO  Banxquote_NNP  Money_NNP  Markets_NNPS  ,_,  an_DT  information_NN  service_NN  based_VBN  here_RB  ._. 
Investors_NNS  can_MD  get_VB  slightly_RB  higher_JJR  yields_NNS  on_IN  deposits_NNS  below_IN  $_$  50,000_CD  than_IN  they_PRP  can_MD  on_IN  deposits_NNS  of_IN  $_$  90,000_CD  and_CC  up_RB  ._. 
``_``  Banks_NNP  want_VBP  to_TO  remain_VB  competitive_JJ  ,_,  ''_''  said_VBD  Norberto_NNP  Mehl_NNP  ,_,  chairman_NN  of_IN  Banxquote_NNP  ._. 
``_``  October_NNP  is_VBZ  a_DT  big_JJ  rollover_NN  month_NN  and_CC  perhaps_RB  they_PRP  anticipate_VBP  greater_JJR  demand_NN  ..._:  among_IN  people_NNS  leaving_VBG  the_DT  stock_NN  market_NN  ._.  ''_'' 
Some_DT  bankers_NNS  are_VBP  reporting_VBG  more_JJR  inquiries_NNS  than_IN  usual_JJ  about_IN  CDs_NNS  since_IN  Friday_NNP  ._. 
``_``  Reports_NNS  from_IN  branches_NNS  are_VBP  that_IN  there_EX  has_VBZ  been_VBN  greater_JJR  interest_NN  in_IN  the_DT  last_JJ  day_NN  or_CC  so_RB  ,_,  ''_''  said_VBD  Steven_NNP  Braitman_NNP  ,_,  a_DT  vice_NN  president_NN  at_IN  Chemical_NNP  Bank_NNP  in_IN  New_NNP  York_NNP  ._. 
Chemical_NNP  said_VBD  deposits_NNS  Monday_NNP  were_VBD  about_RB  $_$  5_NN  million_CD  higher_JJR  than_IN  usual_JJ  and_CC  it_PRP  expects_VBZ  more_JJR  activity_NN  as_IN  investors_NNS  receive_VBP  the_DT  proceeds_NNS  from_IN  sales_NNS  of_IN  stock_NN  ._. 
``_``  This_DT  is_VBZ  no_DT  time_NN  to_TO  be_VB  playing_VBG  in_IN  the_DT  street_NN  ..._: 
the_DT  Dow_NNP  has_VBZ  more_JJR  ups_NNS  and_CC  downs_NNS  than_IN  an_DT  elevator_NN  ,_,  ''_''  proclaimed_VBD  an_DT  advertisement_NN  Monday_NNP  in_IN  New_NNP  York_NNP  newspapers_NNS  ,_,  touting_VBG  Lincoln_NNP  Savings_NNP  Bank_NNP  's_POS  one-year_JJ  CD_NNP  ._. 
Harold_NNP  Jones_NNP  ,_,  Lincoln_NNP  's_POS  chief_JJ  retail_JJ  banking_NN  officer_NN  ,_,  said_VBD  there_EX  has_VBZ  n't_RB  yet_RB  been_VBN  ``_``  a_DT  discernible_JJ  response_NN  ,_,  ''_''  although_IN  the_DT  ad_NN  included_VBD  a_DT  coupon_NN  that_WDT  could_MD  arrive_VB  later_RB  in_IN  the_DT  week_NN  ._. 
Friday_NNP  's_POS  market_NN  rout_NN  came_VBD  smack_RB  in_IN  the_DT  middle_NN  of_IN  the_DT  heaviest_JJS  month_NN  for_IN  CD_NNP  rollovers_NNS  ,_,  when_WRB  a_DT  number_NN  of_IN  banks_NNS  and_CC  thrifts_NNS  already_RB  have_VBP  promotions_NNS  under_IN  way_NN  ._. 
First_NNP  National_NNP  Bank_NNP  of_IN  Boston_NNP  ,_,  for_IN  example_NN  ,_,  is_VBZ  offering_VBG  certain_JJ  new_JJ  depositors_NNS  an_DT  extra_JJ  quarter_NN  of_IN  a_DT  percentage_NN  point_NN  on_IN  six-month_JJ  and_CC  12-month_JJ  CDs_NNS  ._. 
Some_DT  banks_NNS  actually_RB  boosted_VBD  yields_NNS  on_IN  the_DT  shortest_JJS  term_NN  CDs_NNS  in_IN  the_DT  latest_JJS  week_NN  ._. 
New_NNP  York_NNP  's_POS  Citibank_NNP  ,_,  for_IN  instance_NN  ,_,  increased_VBD  the_DT  yield_NN  on_IN  small-denomination_NN  three-month_JJ  CDs_NNS  to_TO  8_CD  %_NN  from_IN  7.9_CD  %_NN  ._. 
On_IN  average_JJ  ,_,  however_RB  ,_,  three-month_JJ  CDs_NNS  at_IN  major_JJ  banks_NNS  are_VBP  yielding_VBG  a_DT  tenth_NN  of_IN  a_DT  percentage_NN  point_NN  less_JJR  than_IN  they_PRP  were_VBD  a_DT  week_NN  ago_RB  ._. 
Average_JJ  yields_NNS  on_IN  CDs_NNS  aimed_VBN  at_IN  individual_JJ  investors_NNS  fell_VBD  less_JJR  than_IN  half_NN  as_RB  much_JJ  as_IN  yields_NNS  on_IN  Treasury_NNP  bills_NNS  sold_VBN  at_IN  Monday_NNP  's_POS  auction_NN  ._. 
Six-month_JJ  CDs_NNS  of_IN  $_$  50,000_CD  and_CC  less_JJR  yielded_VBD  an_DT  average_JJ  8.02_CD  %_NN  in_IN  the_DT  week_NN  ended_VBN  Tuesday_NNP  ,_,  down_RB  from_IN  8.10_CD  %_NN  ,_,  according_VBG  to_TO  Banxquote_NNP  ._. 
The_DT  yield_NN  on_IN  six-month_JJ  T-bills_NNS  fell_VBD  to_TO  7.82_CD  %_NN  on_IN  Monday_NNP  ,_,  from_IN  8.01_CD  %_NN  the_DT  week_NN  before_RB  ._. 
Meanwhile_RB  ,_,  the_DT  average_JJ  yield_NN  on_IN  six-month_JJ  CDs_NNS  of_IN  more_JJR  than_IN  $_$  90,000_CD  fell_VBD  to_TO  7.93_CD  %_NN  in_IN  the_DT  latest_JJS  week_NN  ,_,  according_VBG  to_TO  Banxquote_NNP  ,_,  from_IN  8.10_CD  %_NN  the_DT  week_NN  before_RB  ._. 
Mr._NNP  Mehl_NNP  noted_VBD  that_IN  actual_JJ  rates_NNS  are_VBP  almost_RB  identical_JJ  on_IN  small_JJ  and_CC  large-denomination_NN  CDs_NNS  ,_,  but_CC  yields_NNS  on_IN  CDs_NNS  aimed_VBN  at_IN  the_DT  individual_JJ  investor_NN  are_VBP  boosted_VBN  by_IN  more_RBR  frequent_JJ  compounding_NN  ._. 
CDs_NNS  sold_VBN  by_IN  major_JJ  brokerage_NN  houses_NNS  ,_,  which_WDT  like_IN  jumbo_JJ  CDs_NNS  tend_VBP  to_TO  closely_RB  follow_VB  interest_NN  rate_NN  trends_NNS  ,_,  also_RB  posted_VBD  larger_JJR  drops_VBZ  in_IN  yields_NNS  ._. 
A_DT  six-month_JJ  ,_,  broker-sold_JJ  CD_NNP  ,_,  for_IN  example_NN  ,_,  was_VBD  yielding_VBG  an_DT  average_JJ  8.09_CD  %_NN  in_IN  the_DT  latest_JJS  week_NN  ,_,  a_DT  fifth_NN  of_IN  a_DT  percentage_NN  point_NN  lower_JJR  than_IN  the_DT  week_NN  before_RB  ._. 
In_IN  late_JJ  April_NNP  ,_,  when_WRB  interest_NN  rates_NNS  were_VBD  at_IN  their_PRP$  recent_JJ  highs_NNS  ,_,  short-term_JJ  CDs_NNS  sold_VBN  by_IN  brokers_NNS  were_VBD  offering_NN  yields_NNS  half_PDT  a_DT  percentage_NN  point_NN  or_CC  more_JJR  higher_JJR  than_IN  banks_NNS  ._. 
CD_JJ  yields_NNS  are_VBP  generally_RB  expected_VBN  to_TO  fall_VB  further_JJ  in_IN  coming_VBG  weeks_NNS  ._. 
``_``  What_WP  happened_VBD  in_IN  the_DT  stock_NN  market_NN  and_CC  the_DT  bigger_JJR  trade_NN  deficit_NN  ''_''  reported_VBD  yesterday_NN  ``_``  make_VB  it_PRP  unlikely_JJ  that_IN  short-term_JJ  interest_NN  rates_NNS  will_MD  rise_VB  ''_''  any_DT  time_NN  soon_RB  ,_,  said_VBD  Mr._NNP  Mehl_NNP  of_IN  Banxquote_NNP  ._. 
``_``  Even_RB  before_IN  the_DT  market_NN  drop_NN  ,_,  rates_NNS  were_VBD  down_RB  about_IN  half_PDT  a_DT  percentage_NN  point_NN  ,_,  ''_''  said_VBD  Robert_NNP  J._NNP  Hutchinson_NNP  ,_,  senior_JJ  vice_NN  president_NN  for_IN  retail_JJ  marketing_NN  at_IN  Manufacturers_NNP  Hanover_NNP  Trust_NNP  Co._NNP  in_IN  New_NNP  York_NNP  ._. 
``_``  That_DT  puts_VBZ  pressure_NN  on_IN  CD_NNP  rates_NNS  ._. 
Conservatives_NNS  have_VBP  an_DT  important_JJ  decision_NN  to_TO  make_VB  this_DT  fall_NN  ._. 
At_IN  the_DT  recent_JJ  meetings_NNS  of_IN  the_DT  World_NNP  Bank_NNP  and_CC  International_NNP  Monetary_NNP  Fund_NNP  ,_,  the_DT  Bush_NNP  administration_NN  announced_VBD  its_PRP$  intention_NN  to_TO  decide_VB  by_IN  yearend_NN  the_DT  size_NN  of_IN  the_DT  next_JJ  increase_NN  in_IN  the_DT  IMF_NNP  's_POS  capital_NN  base_NN  ._. 
While_IN  the_DT  U.S._NNP  share_NN  of_IN  the_DT  increase_NN  probably_RB  will_MD  not_RB  reach_VB  the_DT  $_$  12_CD  billion_CD  or_CC  more_RBR  implicit_JJ  in_IN  the_DT  IMF_NNP  's_POS  request_NN  for_IN  a_DT  doubling_NN  of_IN  its_PRP$  $_$  90_CD  billion_CD  capital_NN  ,_,  the_DT  administration_NN  probably_RB  will_MD  agree_VB  to_TO  a_DT  multibillion-dollar_JJ  increase_NN  ._. 
This_DT  would_MD  be_VB  consistent_JJ  with_IN  its_PRP$  unwavering_VBG  support_NN  for_IN  the_DT  Brady_NNP  Plan_NNP  and_CC  G-7_NNP  exchange-rate_NN  intervention_NN  ,_,  and_CC  with_IN  its_PRP$  financial_JJ  commitment_NN  to_TO  Mexico_NNP  ,_,  Poland_NNP  and_CC  others_NNS  ._. 
The_DT  IMF_NNP  has_VBZ  several_JJ  reasons_NNS  for_IN  requesting_VBG  the_DT  increase_NN  ._. 
Its_PRP$  role_NN  in_IN  the_DT  economies_NNS  of_IN  developing_VBG  countries_NNS  has_VBZ  grown_VBN  steadily_RB  since_IN  the_DT  1970s_NNS  ._. 
The_DT  size_NN  and_CC  pace_NN  of_IN  disbursements_NNS  will_MD  accelerate_VB  further_JJ  under_IN  the_DT  Brady_NNP  Plan_NNP  ,_,  which_WDT  promises_VBZ  larger_JJR  and_CC  earlier_JJR  disbursements_NNS  to_TO  approved_VBD  countries_NNS  ._. 
At_IN  least_JJS  three_CD  other_JJ  factors_NNS  have_VBP  encouraged_VBN  the_DT  IMF_NNP  to_TO  insist_VB  on_IN  increased_VBN  capital_NN  ._. 
First_RB  ,_,  it_PRP  argues_VBZ  that_IN  its_PRP$  capital_NN  base_NN  must_MD  be_VB  increased_VBN  in_IN  order_NN  to_TO  maintain_VB  its_PRP$  size_NN  relative_JJ  to_TO  world_NN  financial_JJ  markets_NNS  ,_,  for_IN  which_WDT  it_PRP  feels_VBZ  some_DT  responsibility_NN  ._. 
Second_JJ  ,_,  the_DT  World_NNP  Bank_NNP  's_POS  recent_JJ  $_$  75_CD  billion_CD  capital_NN  increase_NN  --_:  $_$  14_CD  billion_CD  from_IN  the_DT  U.S._NNP  --_:  has_VBZ  left_VBN  the_DT  IMF_NNP  feeling_NN  less_JJR  than_IN  first_JJ  fiddle_NN  among_IN  international_JJ  financial_JJ  institutions_NNS  ._. 
Third_NNP  ,_,  the_DT  IMF_NNP  would_MD  like_VB  to_TO  meet_VB  Japan_NNP  's_POS  request_NN  for_IN  increased_VBN  ownership_NN  -LRB-_(  currently_RB  4.5_CD  %_NN  -RRB-_)  ._. 
Japan_NNP  has_VBZ  supported_VBN  a_DT  larger_JJR  role_NN  for_IN  the_DT  IMF_NNP  in_IN  developing-country_JJ  debt_NN  issues_NNS  ,_,  and_CC  is_VBZ  an_DT  important_JJ  financial_JJ  resource_NN  for_IN  IMF-guided_JJ  programs_NNS  in_IN  developing_VBG  countries_NNS  ._. 
While_IN  international_JJ  politics_NNS  may_MD  argue_VB  for_IN  the_DT  capital_NN  increase_NN  ,_,  there_EX  is_VBZ  a_DT  clear_JJ  economic_JJ  case_NN  against_IN  it_PRP  ._. 
Opponents_NNS  of_IN  the_DT  increase_NN  argue_VBP  that_IN  the_DT  IMF_NNP  practices_NNS  central_JJ  planning_NN  while_IN  supporting_VBG  ineffective_JJ  governments_NNS  ._. 
They_PRP  question_VBP  whether_IN  the_DT  IMF_NNP  has_VBZ  any_DT  role_NN  in_IN  developing_VBG  countries_NNS  ,_,  given_VBN  its_PRP$  original_JJ  mandate_NN  to_TO  assist_VB  industrial_JJ  countries_NNS  in_IN  balance-of-payments_NNS  emergencies_NNS  ._. 
Opponents_NNS  show_VBP  that_IN  there_EX  are_VBP  already_RB  more_JJR  funds_NNS  available_JJ  than_IN  commendable_JJ  reform_NN  efforts_NNS  ._. 
They_PRP  worry_VBP  that_IN  new_JJ  IMF_NNP  funding_NN  of_IN  developing_VBG  countries_NNS  will_MD  simply_RB  end_VB  up_IN  substituting_VBG  IMF_NNP  debt_NN  for_IN  reschedulable_JJ  commercial_JJ  bank_NN  debt_NN  ,_,  a_DT  bad_JJ  trade_NN  all_DT  around_RB  ._. 
They_PRP  believe_VBP  microeconomics_NNS  ,_,  which_WDT  addresses_VBZ  the_DT  problems_NNS  of_IN  markets_NNS  ,_,  investment_NN  climate_NN  and_CC  management_NN  practices_NNS  ,_,  is_VBZ  the_DT  key_JJ  to_TO  developing-country_JJ  growth_NN  ,_,  not_RB  the_DT  IMF_NNP  's_POS  Keynesian_JJ  focus_NN  on_IN  trade_NN  deficits_NNS  ,_,  quarterly_JJ  targets_NNS  and_CC  government_NN  debt_NN  ._. 
They_PRP  point_VBP  at_IN  the_DT  numerous_JJ  developing-country_JJ  governments_NNS  that_WDT  have_VBP  inflated_JJ  ,_,  taxed_VBN  and_CC  regulated_VBN  themselves_PRP  into_IN  despair_NN  under_IN  successive_JJ  IMF_NNP  programs_NNS  ._. 
Decisions_NNS  on_IN  increases_NNS  in_IN  the_DT  IMF_NNP  's_POS  capital_NN  base_NN  traditionally_RB  are_VBP  made_VBN  by_IN  the_DT  administration_NN  ,_,  with_IN  subsequent_JJ  authorization_NN  by_IN  Congress_NNP  ._. 
The_DT  last_JJ  U.S._NNP  congressional_JJ  authorization_NN  ,_,  in_IN  1983_CD  ,_,  was_VBD  a_DT  political_JJ  donnybrook_NN  and_CC  carried_VBD  a_DT  $_$  6_CD  billion_CD  housing_NN  program_NN  along_IN  with_IN  it_PRP  to_TO  secure_VB  adequate_JJ  votes_NNS  ._. 
The_DT  politics_NNS  of_IN  the_DT  1990_CD  congressional_JJ  authorization_NN  are_VBP  likely_JJ  to_TO  be_VB  similar_JJ  to_TO  those_DT  of_IN  previous_JJ  authorizations_NNS  ._. 
Liberals_NNS  may_MD  support_VB  the_DT  stabilizing_VBG  ,_,  quasi-governmental_JJ  role_NN  of_IN  the_DT  IMF_NNP  on_IN  two_CD  conditions_NNS  :_:  that_IN  the_DT  administration_NN  give_NN  assurances_NNS  that_IN  liberal_JJ  Democrats_NNPS  '_POS  support_NN  will_MD  not_RB  be_VB  used_VBN  against_IN  them_PRP  in_IN  congressional_JJ  re-election_NN  campaigns_NNS  ;_:  and_CC  that_IN  the_DT  legislation_NN  address_NN  --_:  with_IN  dollars_NNS  --_:  social_JJ  and_CC  environmental_JJ  concerns_NNS  ._. 
Conservative_NNP  Republicans_NNPS  will_MD  be_VB  given_VBN  the_DT  choice_NN  of_IN  supporting_VBG  or_CC  fighting_VBG  their_PRP$  party_NN  's_POS  popular_JJ  president_NN  in_IN  an_DT  election_NN  year_NN  ._. 
A_DT  U.S._NNP  decision_NN  to_TO  refuse_VB  the_DT  IMF_NNP  its_PRP$  capital_NN  increase_NN  ,_,  or_CC  limit_NN  it_PRP  to_TO  25_CD  %_NN  ,_,  would_MD  bring_VB  a_DT  major_JJ  change_NN  in_IN  international_JJ  economic_JJ  policy_NN  ,_,  and_CC  could_MD  not_RB  be_VB  taken_VBN  lightly_RB  ._. 
Commentators_NNS  would_MD  fret_VB  over_IN  the_DT  implications_NNS  for_IN  the_DT  G-7_NNP  coordination_NN  process_NN  and_CC  the_DT  stability_NN  of_IN  world_NN  financial_JJ  markets_NNS  ._. 
Because_IN  commercial_JJ  banks_NNS  and_CC  the_DT  developing-country_JJ  governments_NNS  believe_VBP  they_PRP  will_MD  get_VB  a_DT  piece_NN  of_IN  any_DT  capital_NN  increase_NN  ,_,  a_DT  scaled-down_JJ  IMF_NNP  mission_NN  would_MD  leave_VB  both_DT  feeling_NN  shortchanged_VBN  ._. 
Furthermore_RB  ,_,  a_DT  U.S._NNP  rejection_NN  of_IN  the_DT  capital_NN  increase_NN  -LRB-_(  and_CC  transfer_NN  of_IN  shares_NNS  to_TO  Japan_NNP  -RRB-_)  would_MD  give_VB  Japan_NNP  an_DT  argument_NN  against_IN  future_NN  calls_VBZ  for_IN  economic_JJ  burden-sharing_NN  ._. 
On_IN  the_DT  other_JJ  hand_NN  ,_,  a_DT  decision_NN  to_TO  increase_VB  the_DT  IMF_NNP  's_POS  capital_NN  would_MD  reinforce_VB  the_DT  central_JJ  economic_JJ  role_NN  of_IN  multilateral_JJ  institutions_NNS  in_IN  developing_VBG  countries_NNS  ._. 
With_IN  the_DT  increase_NN  ,_,  even_RB  more_RBR  developing-country_JJ  energy_NN  and_CC  talent_NN  would_MD  be_VB  diverted_VBN  from_IN  creating_VBG  profitable_JJ  economic_JJ  systems_NNS  to_TO  setting_VBG  up_IN  economic_JJ  planning_NN  ministries_NNS  that_WDT  generate_VBP  IMF-approved_JJ  economic_JJ  plans_NNS  ._. 
Upping_VBG  the_DT  ante_NN  could_MD  slow_VB  economic_JJ  development_NN  even_RB  further_RBR  ,_,  as_IN  countries_NNS  delay_VBP  market-opening_JJ  steps_NNS  in_IN  anticipation_NN  of_IN  richer_JJR  multilateral_JJ  support_NN  ._. 
Conservatives_NNS  should_MD  take_VB  a_DT  position_NN  prior_RB  to_TO  the_DT  administration_NN  's_POS  year-end_NN  deadline_NN  ._. 
The_DT  issues_NNS  are_VBP  too_RB  important_JJ  to_TO  be_VB  left_VBN  to_TO  the_DT  financial_JJ  and_CC  budget_NN  ministries_NNS  fighting_VBG  over_IN  the_DT  size_NN  of_IN  the_DT  capital_NN  increase_NN  ,_,  rather_RB  than_IN  its_PRP$  purpose_NN  ._. 
If_IN  conservatives_NNS  do_VBP  n't_RB  support_VB  an_DT  increase_NN  in_IN  the_DT  IMF_NNP  's_POS  capital_NN  ,_,  then_RB  it_PRP  is_VBZ  incumbent_JJ  on_IN  them_PRP  to_TO  speak_VB  up_IN  now_RB  and_CC  explain_VB  the_DT  alternative_NN  ._. 
Mr._NNP  Malpass_NNP  directs_VBZ  the_DT  Republican_NNP  staff_NN  of_IN  the_DT  Joint_NNP  Economic_NNP  Committee_NNP  of_IN  Congress_NNP  ._. 
The_DT  Chicago_NNP  Mercantile_NNP  Exchange_NNP  fined_VBD  and_CC  suspended_VBN  two_CD  commodities_NNS  traders_NNS  accused_VBN  of_IN  making_VBG  prearranged_VBN  trades_NNS  with_IN  each_DT  other_NN  that_IN  allegedly_RB  cheated_VBN  a_DT  customer_NN  ._. 
Merc_NN  officials_NNS  said_VBD  Gary_NNP  N._NNP  Roberts_NNP  was_VBD  disciplined_VBN  following_VBG  the_DT  exchange_NN  's_POS  investigation_NN  of_IN  his_PRP$  trading_NN  in_IN  several_JJ  commodities_NNS  pits_NNS  from_IN  July_NNP  to_TO  November_NNP  1988_CD  ._. 
The_DT  Merc_NNP  said_VBD  Mr._NNP  Roberts_NNP  withheld_VBD  from_IN  the_DT  market_NN  certain_JJ  orders_NNS  in_IN  cooperation_NN  with_IN  another_DT  trader_NN  ,_,  David_NNP  Stein_NNP  ._. 
The_DT  Merc_NNP  fined_VBD  Mr._NNP  Roberts_NNP  $_$  15,000_CD  and_CC  suspended_VBN  his_PRP$  trading_NN  membership_NN  for_IN  three_CD  years_NNS  ._. 
Also_RB  ,_,  he_PRP  and_CC  Mr._NNP  Stein_NNP  were_VBD  ordered_VBN  to_TO  make_VB  restitution_NN  of_IN  $_$  35,000_CD  to_TO  a_DT  customer_NN  ._. 
Mr._NNP  Stein_NNP  was_VBD  fined_VBN  $_$  25,000_CD  and_CC  suspended_VBN  for_IN  three_CD  years_NNS  ._. 
Messrs._NNP  Roberts_NNP  and_CC  Stein_NNP  could_MD  n't_RB  be_VB  reached_VBN  for_IN  comment_NN  ._. 
The_DT  Merc_NNP  said_VBD  that_IN  as_IN  part_NN  of_IN  the_DT  disciplinary_JJ  settlement_NN  ,_,  neither_DT  man_NN  admitted_VBD  ,_,  nor_CC  denied_VBD  the_DT  alleged_VBN  violations_NNS  ._. 
Neither_CC  was_VBD  among_IN  the_DT  46_CD  traders_NNS  indicted_VBD  last_JJ  August_NNP  in_IN  a_DT  federal_JJ  investigation_NN  of_IN  traders_NNS  at_IN  both_DT  the_DT  Merc_NNP  and_CC  the_DT  Chicago_NNP  Board_NNP  of_IN  Trade_NNP  ._. 
In_IN  a_DT  move_NN  that_WDT  could_MD  pose_VB  a_DT  new_JJ  competitive_JJ  challenge_NN  to_TO  Time_NNP  Warner_NNP  Inc._NNP  's_POS  powerful_JJ  Home_NNP  Box_NNP  Office_NNP  ,_,  cable_NN  giant_NN  Tele-Communications_NNP  Inc._NNP  agreed_VBD  to_TO  buy_VB  half_NN  of_IN  Showtime_NNP  Networks_NNP  Inc._NNP  from_IN  Viacom_NNP  Inc._NNP  for_IN  $_$  225_CD  million_CD  ._. 
The_DT  purchase_NN  comes_VBZ  after_IN  nearly_RB  three_CD  years_NNS  of_IN  on-again_JJ  off-again_JJ  talks_NNS  between_IN  TCI_NNP  and_CC  Viacom_NNP  ,_,  which_WDT  has_VBZ  also_RB  discussed_VBN  the_DT  sale_NN  of_IN  an_DT  interest_NN  in_IN  Showtime_NNP  with_IN  other_JJ  cable_NN  operators_NNS  ._. 
Showtime_NNP  is_VBZ  a_DT  distant_JJ  No._NN  2_CD  to_TO  Home_NNP  Box_NNP  Office_NNP  ,_,  and_CC  in_IN  May_NNP  filed_VBD  a_DT  $_$  2.5_CD  billion_CD  antitrust_JJ  suit_NN  against_IN  Time_NNP  Warner_NNP  ,_,  charging_VBG  the_DT  company_NN  and_CC  its_PRP$  HBO_NNP  and_CC  American_NNP  Television_NNP  cable_NN  units_NNS  with_IN  conspiring_VBG  to_TO  monopolize_VB  the_DT  pay_NN  TV_NN  business_NN  ._. 
HBO_NNP  has_VBZ  close_RB  to_TO  24_CD  million_CD  subscribers_NNS  to_TO  its_PRP$  HBO_NNP  and_CC  Cinemax_NNP  networks_NNS  ,_,  while_IN  Showtime_NNP  and_CC  its_PRP$  sister_NN  service_NN  ,_,  The_DT  Movie_NNP  Channel_NNP  ,_,  have_VBP  only_RB  about_IN  10_CD  million_CD  ,_,  according_VBG  to_TO  Paul_NNP  Kagan_NNP  Associates_NNPS  ,_,  a_DT  Carmel_NNP  ,_,  Calif._NNP  ,_,  research_NN  firm_NN  ._. 
For_IN  TCI_NNP  ,_,  the_DT  investment_NN  in_IN  Showtime_NNP  puts_VBZ  it_PRP  in_IN  an_DT  unusual_JJ  position_NN  ;_:  as_IN  the_DT  largest_JJS  cable_NN  operator_NN  ,_,  with_IN  control_NN  of_IN  close_RB  to_TO  12_CD  million_CD  of_IN  the_DT  nation_NN  's_POS  52_CD  million_CD  cable_NN  subscribers_NNS  ,_,  TCI_NNP  is_VBZ  HBO_NNP  's_POS  largest_JJS  customer_NN  ._. 
But_CC  TCI_NNP  President_NNP  John_NNP  Malone_NNP  has_VBZ  long_RB  been_VBN  concerned_VBN  about_IN  HBO_NNP  's_POS  dominance_NN  of_IN  the_DT  pay_NN  TV_NN  business_NN  ,_,  and_CC  has_VBZ  been_VBN  eager_JJ  to_TO  keep_VB  Showtime_NNP  as_IN  a_DT  healthy_JJ  competitor_NN  ._. 
``_``  It_PRP  is_VBZ  important_JJ  to_TO  the_DT  cable_NN  industry_NN  that_IN  we_PRP  have_VBP  a_DT  vibrant_JJ  and_CC  competitive_JJ  pay-television_NN  marketplace_NN  ,_,  ''_''  Mr._NNP  Malone_NNP  said_VBD  in_IN  a_DT  statement_NN  ._. 
In_IN  a_DT  telephone_NN  interview_NN  ,_,  Robert_NNP  Thomson_NNP  ,_,  TCI_NNP  senior_JJ  vice_NN  president_NN  ,_,  said_VBD  Showtime_NNP  's_POS  suit_NN  against_IN  HBO_NNP  ``_``  does_VBZ  n't_RB  involve_VB  us_PRP  ,_,  and_CC  nothing_NN  we_PRP  're_VBP  doing_VBG  here_RB  bears_VBZ  any_DT  relationship_NN  to_TO  that_DT  ._.  ''_'' 
He_PRP  added_VBD  ,_,  ``_``  We_PRP  do_VBP  n't_RB  intend_VB  to_TO  be_VB  drawn_VBN  into_IN  it_PRP  ,_,  ''_''  noting_VBG  that_IN  TCI_NNP  wo_MD  n't_RB  play_VB  any_DT  active_JJ  role_NN  in_IN  the_DT  management_NN  of_IN  Showtime_NNP  ._. 
Linking_VBG  up_IN  Showtime_NNP  with_IN  the_DT  largest_JJS  cable_NN  operator_NN  in_IN  the_DT  U.S._NNP  could_MD  sharply_RB  boost_VB  its_PRP$  subscribers_NNS  ._. 
TCI_NNP  said_VBD  it_PRP  may_MD  bring_VB  in_IN  other_JJ  cable_NN  operators_NNS  as_IN  investors_NNS  ,_,  a_DT  practice_NN  it_PRP  has_VBZ  employed_VBN  in_IN  the_DT  past_NN  with_IN  investments_NNS  in_IN  other_JJ  cable_NN  networks_NNS  ,_,  such_JJ  as_IN  The_DT  Discovery_NNP  Channel_NNP  ._. 
Additional_JJ  cable_NN  partners_NNS  could_MD  boost_VB  subscribers_NNS  even_RB  further_JJ  ._. 
Time_NNP  Warner_NNP  declined_VBD  comment_VB  ._. 
In_IN  addition_NN  to_TO  owning_VBG  HBO_NNP  ,_,  Time_NNP  Warner_NNP  owns_VBZ  American_NNP  Television_NNP  &_CC  Communications_NNP  Inc._NNP  ,_,  the_DT  nation_NN  's_POS  second_JJ  largest_JJS  cable_NN  operator_NN  after_IN  TCI_NNP  ._. 
Viacom_NNP  also_RB  owns_VBZ  cable_NN  systems_NNS  ,_,  but_CC  it_PRP  is_VBZ  the_DT  14th_JJ  largest_JJS  operator_NN  of_IN  such_JJ  systems_NNS  ,_,  with_IN  less_JJR  than_IN  one_CD  million_CD  subscribers_NNS  ._. 
The_DT  TCI_NNP  investment_NN  is_VBZ  a_DT  big_JJ  victory_NN  for_IN  Viacom_NNP  's_POS  chief_JJ  executive_JJ  officer_NN  ,_,  Frank_NNP  Biondi_NNP  ,_,  and_CC  Winston_NNP  H._NNP  Cox_NNP  ,_,  president_NN  of_IN  the_DT  Showtime_NNP  unit_NN  ._. 
``_``  This_DT  takes_VBZ  any_DT  question_NN  of_IN  Showtime_NNP  's_POS  viability_NN  and_CC  puts_VBZ  it_PRP  away_RB  once_RB  and_CC  for_IN  all_DT  ,_,  ''_''  Mr._NNP  Biondi_NNP  said_VBD  in_IN  a_DT  telephone_NN  interview_NN  ._. 
The_DT  fight_NN  between_IN  HBO_NNP  and_CC  Showtime_NNP  is_VBZ  particularly_RB  acrimonious_JJ  because_IN  Mr._NNP  Biondi_NNP  is_VBZ  the_DT  former_JJ  chief_JJ  executive_NN  of_IN  HBO_NNP  ,_,  and_CC  Mr._NNP  Cox_NNP  served_VBD  as_IN  chief_NN  of_IN  marketing_NN  for_IN  the_DT  service_NN  ._. 
They_PRP  were_VBD  both_DT  hired_VBN  by_IN  Sumner_NNP  Redstone_NNP  ,_,  the_DT  Boston_NNP  billionaire_NN  who_WP  took_VBD  control_NN  of_IN  Viacom_NNP  three_CD  years_NNS  ago_RB  in_IN  a_DT  leveraged_JJ  buy-out_NN  ._. 
Time_NNP  Warner_NNP  has_VBZ  vigorously_RB  denied_VBN  all_DT  of_IN  Viacom_NNP  's_POS  allegations_NNS  ._. 
Boeing_NNP  Co._NNP  ,_,  already_RB  struck_VBN  by_IN  its_PRP$  Machinists_NNS  union_NN  ,_,  briefly_NN  called_VBN  off_IN  contract_NN  talks_NNS  with_IN  its_PRP$  engineers_NNS  and_CC  labeled_VBN  their_PRP$  demands_NNS  ``_``  grossly_RB  excessive_JJ  ._.  ''_'' 
Later_RB  ,_,  however_RB  ,_,  the_DT  company_NN  agreed_VBD  to_TO  meet_VB  on_IN  Monday_NNP  with_IN  the_DT  Seattle_NNP  Professional_NNP  Engineering_NNP  Employees_NNP  Association_NNP  after_IN  a_DT  federal_JJ  mediator_NN  intervened_VBD  ,_,  according_VBG  to_TO  the_DT  union_NN  ._. 
A_DT  spokesman_NN  for_IN  the_DT  engineers_NNS  said_VBD  the_DT  company_NN  asked_VBD  the_DT  union_NN  to_TO  reduce_VB  its_PRP$  demands_NNS  ,_,  which_WDT  included_VBD  a_DT  19_CD  %_NN  pay_NN  hike_NN  in_IN  the_DT  first_JJ  year_NN  and_CC  8_CD  %_NN  in_IN  the_DT  second_JJ  and_CC  third_JJ  years_NNS  ._. 
The_DT  union_NN  represents_VBZ  about_IN  28,000_CD  engineers_NNS  and_CC  technical_JJ  workers_NNS  ._. 
Its_PRP$  contract_NN  expires_VBZ  Dec._NNP  1_CD  ._. 
Meanwhile_RB  ,_,  a_DT  federal_JJ  mediator_NN  is_VBZ  scheduled_VBN  to_TO  meet_VB  today_NN  with_IN  Boeing_NNP  officials_NNS  and_CC  representatives_NNS  of_IN  55,000_CD  striking_JJ  Machinists_NNS  ._. 
``_``  It_PRP  will_MD  take_VB  several_JJ  meetings_NNS  to_TO  resolve_VB  this_DT  ,_,  ''_''  said_VBD  a_DT  spokesman_NN  for_IN  the_DT  Machinists_NNS  union_NN  ._. 
``_``  We_PRP  do_VBP  n't_RB  want_VB  to_TO  bring_VB  back_JJ  something_NN  the_DT  members_NNS  will_MD  reject_VB  ._.  ''_'' 
Machinists_NNS  already_RB  have_VBP  rejected_VBN  a_DT  package_NN  that_WDT  would_MD  have_VB  provided_VBN  a_DT  10_CD  %_NN  pay_NN  raise_NN  plus_CC  bonuses_NNS  over_IN  the_DT  three-year_JJ  life_NN  of_IN  the_DT  contract_NN  ._. 
It_PRP  also_RB  would_MD  have_VB  reduced_VBN  mandatory_JJ  overtime_NN  ._. 
Investor_NNP  Asher_NNP  Edelman_NNP  increased_VBD  his_PRP$  stake_NN  in_IN  Intelogic_NNP  Trace_NNP  Inc._NNP  and_CC  cleared_VBD  the_DT  way_NN  for_IN  additional_JJ  purchases_NNS  ._. 
It_PRP  was_VBD  n't_RB  clear_JJ  ,_,  however_RB  ,_,  whether_IN  the_DT  actions_NNS  were_VBD  related_VBN  to_TO  a_DT  battle_NN  between_IN  the_DT  corporate_JJ  raider_NN  and_CC  New_NNP  York_NNP  attorney_NN  Martin_NNP  Ackerman_NNP  for_IN  control_NN  of_IN  Datapoint_NNP  Corp._NNP  ,_,  a_DT  San_NNP  Antonio_NNP  ,_,  Texas-based_JJ  data-processing_NN  systems_NNS  maker_NN  ._. 
Intelogic_NNP  Trace_NNP  ,_,  a_DT  computer_NN  services_NNS  company_NN  ,_,  was_VBD  spun_VBN  off_IN  to_TO  Datapoint_NNP  holders_NNS  in_IN  1985_CD  ,_,  after_IN  Mr._NNP  Edelman_NNP  gained_VBD  control_NN  ._. 
After_IN  Mr._NNP  Ackerman_NNP  announced_VBD  he_PRP  was_VBD  soliciting_VBG  consents_NNS  from_IN  shareholders_NNS  in_IN  order_NN  to_TO  wrest_VB  control_NN  of_IN  Datapoint_NNP  from_IN  Mr._NNP  Edelman_NNP  ,_,  the_DT  corporate_JJ  raider_NN  purchased_VBN  30_CD  %_NN  of_IN  Datapoint_NNP  's_POS  shares_NNS  ._. 
In_IN  a_DT  Securities_NNP  and_CC  Exchange_NNP  Commission_NNP  filing_NN  ,_,  Mr._NNP  Edelman_NNP  said_VBD  from_IN  Sept._NNP  29_CD  to_TO  Oct._NNP  13_CD  ,_,  he_PRP  acquired_VBD  309,500_CD  shares_NNS  of_IN  Intelogic_NNP  common_JJ  shares_NNS  for_IN  $_$  2.25_CD  to_TO  $_$  2.375_CD  each_DT  ._. 
The_DT  purchases_NNS  increased_VBD  his_PRP$  stake_NN  to_TO  16.2_CD  %_NN  of_IN  the_DT  shares_NNS  outstanding_JJ  ._. 
The_DT  filing_NN  also_RB  said_VBD  certain_JJ  provisions_NNS  which_WDT  apply_VBP  to_TO  persons_NNS  acquiring_VBG  20_CD  %_NN  or_CC  more_JJR  of_IN  Intelogic_NNP  common_JJ  stock_NN  ,_,  were_VBD  waived_VBN  by_IN  Intelogic_NNP  for_IN  Mr._NNP  Edelman_NNP  ,_,  who_WP  is_VBZ  chairman_NN  of_IN  the_DT  company_NN  ._. 
Mr._NNP  Edelman_NNP  could_MD  n't_RB  be_VB  reached_VBN  for_IN  comment_NN  ._. 
The_DT  federal_JJ  government_NN  should_MD  make_VB  free_JJ  ,_,  voluntary_JJ  testing_NN  for_IN  the_DT  AIDS_NNP  virus_NN  the_DT  cornerstone_NN  of_IN  an_DT  expanded_VBN  campaign_NN  to_TO  stop_VB  the_DT  spread_NN  of_IN  acquired_VBN  immune_JJ  deficiency_NN  syndrome_NN  ,_,  the_DT  Hudson_NNP  Institute_NNP  recommended_VBD  ._. 
``_``  By_IN  encouraging_VBG  massive_JJ  ,_,  routine_JJ  ,_,  voluntary_JJ  testing_NN  we_PRP  can_MD  enable_VB  society_NN  to_TO  voluntarily_RB  segregate_VB  itself_PRP  sexually_RB  into_IN  two_CD  groups_NNS  :_:  those_DT  who_WP  carry_VBP  the_DT  virus_NN  and_CC  those_DT  who_WP  do_VBP  not_RB  ,_,  ''_''  the_DT  Indianapolis_NNP  research_NN  organization_NN  said_VBD  in_IN  a_DT  new_JJ  report_NN  ._. 
The_DT  report_NN  takes_VBZ  a_DT  more_RBR  alarmed_VBN  view_NN  of_IN  AIDS_NNP  and_CC  recommends_VBZ  a_DT  more_JJR  sweeping_VBG  response_NN  than_IN  many_JJ  other_JJ  analyses_NNS  ._. 
It_PRP  warns_VBZ  that_IN  the_DT  AIDS_NNP  epidemic_NN  ``_``  may_MD  reduce_VB  the_DT  rate_NN  of_IN  growth_NN  of_IN  the_DT  work_NN  force_NN  ,_,  curb_VB  productivity_NN  gains_NNS  and_CC  slow_JJ  economic_JJ  growth_NN  ._.  ''_'' 
It_PRP  contends_VBZ  that_IN  current_JJ  government_NN  policy_NN  is_VBZ  failing_VBG  to_TO  stem_VB  the_DT  AIDS_NNP  epidemic_NN  because_IN  it_PRP  suggests_VBZ  the_DT  use_NN  of_IN  condoms_NNS  can_MD  make_VB  sex_NN  ``_``  safe_JJ  ._.  ''_'' 
But_CC  the_DT  report_NN  says_VBZ  :_:  ``_``  The_DT  only_RB  safe_JJ  sex_NN  is_VBZ  sex_NN  between_IN  uninfected_JJ  partners_NNS  ,_,  ''_''  and_CC  testing_NN  is_VBZ  the_DT  only_JJ  way_NN  to_TO  learn_VB  of_IN  infection_NN  ._. 
Hudson_NNP  's_POS  researchers_NNS  estimated_VBN  that_IN  it_PRP  would_MD  cost_VB  less_JJR  than_IN  $_$  650_CD  million_CD  a_DT  year_NN  to_TO  test_VB  the_DT  entire_JJ  population_NN  between_IN  the_DT  ages_NNS  of_IN  12_CD  and_CC  65_CD  years_NNS  old_JJ  ._. 
In_IN  addition_NN  ,_,  the_DT  report_NN  recommends_VBZ  that_IN  federal_JJ  and_CC  state_NN  governments_NNS  provide_VBP  free_JJ  treatment_NN  to_TO  all_DT  who_WP  test_VBP  positive_JJ  ._. 
An_DT  unexpectedly_RB  sharp_JJ  widening_NN  in_IN  the_DT  U.S._NNP  trade_NN  gap_NN  for_IN  August_NNP  dragged_VBD  the_DT  dollar_NN  lower_JJR  Tuesday_NNP  ,_,  but_CC  profit-taking_NN  on_IN  short_JJ  positions_NNS  helped_VBD  the_DT  currency_NN  rebound_NN  to_TO  close_VB  mixed_VBN  against_IN  major_JJ  counterparts_NNS  ._. 
While_IN  the_DT  market_NN  kept_VBD  careful_JJ  tabs_NNS  on_IN  Wall_NNP  Street_NNP  's_POS  gyrations_NNS  ,_,  it_PRP  shrugged_VBD  off_IN  a_DT  modest_JJ  downturn_NN  in_IN  equities_NNS  to_TO  bid_VB  the_DT  dollar_NN  well_RB  above_IN  the_DT  day_NN  's_POS  lows_NNS  ._. 
Soon_RB  after_IN  the_DT  release_NN  of_IN  the_DT  U.S._NNP  trade_NN  figures_NNS  ,_,  the_DT  dollar_NN  plunged_VBD  to_TO  an_DT  intraday_JJ  low_NN  of_IN  140.95_CD  yen_NN  ._. 
It_PRP  also_RB  declined_VBD  against_IN  the_DT  mark_NN  but_CC  did_VBD  n't_RB  reach_VB  its_PRP$  intraday_JJ  low_NN  of_IN  1.8435_CD  marks_NNS  until_IN  two_CD  hours_NNS  later_RB  ._. 
The_DT  unit_NN  stabilized_VBN  about_IN  midday_NN  New_NNP  York_NNP  time_NN  at_IN  around_IN  1.85_CD  marks_NNS  and_CC  141_CD  yen_NN  ,_,  prompting_VBG  unconfirmed_JJ  rumors_NNS  that_IN  the_DT  U.S._NNP  Federal_NNP  Reserve_NNP  had_VBD  intervened_VBN  to_TO  blunt_VB  the_DT  unit_NN  's_POS  tumble_NN  ._. 
The_DT  dollar_NN  finished_VBD  at_IN  its_PRP$  intraday_JJ  highs_NNS  ._. 
Dealers_NNS  noted_VBD  that_IN  the_DT  foreign_JJ  exchange_NN  market_NN  's_POS  initial_JJ  bearish_JJ  reaction_NN  to_TO  the_DT  U.S._NNP  trade_NN  figures_NNS  was_VBD  tempered_VBN  later_RB  by_IN  a_DT  ``_``  calmer_JJR  reassessment_NN  of_IN  the_DT  data_NNS  ._.  ''_'' 
The_DT  U.S._NNP  Commerce_NNP  Department_NNP  reported_VBD  a_DT  $_$  10.77_CD  billion_CD  deficit_NN  in_IN  August_NNP  ,_,  compared_VBN  with_IN  a_DT  revised_VBN  July_NNP  deficit_NN  of_IN  $_$  8.24_CD  billion_CD  ._. 
Economists_NNS  had_VBD  expected_VBN  a_DT  $_$  9.1_CD  billion_CD  gap_NN  ._. 
The_DT  August_NNP  figure_NN  reflected_VBD  a_DT  6.4_CD  %_NN  rise_NN  in_IN  imports_NNS  and_CC  a_DT  0.2_CD  %_NN  drop_NN  in_IN  exports_NNS  ._. 
Marc_NNP  M._NNP  Goloven_NNP  ,_,  an_DT  economist_NN  with_IN  Manufacturers_NNP  Hanover_NNP  Trust_NNP  in_IN  New_NNP  York_NNP  ,_,  said_VBD  that_IN  while_IN  the_DT  figures_NNS  appear_VBP  to_TO  indicate_VB  a_DT  sadly_RB  deteriorating_VBG  U.S._NNP  trade_NN  performance_NN  ,_,  there_EX  's_VBZ  still_RB  enough_RB  positive_JJ  news_NN  in_IN  the_DT  data_NNS  to_TO  justify_VB  buying_VBG  dollars_NNS  ._. 
He_PRP  said_VBD  that_IN  while_IN  the_DT  U.S._NNP  trade_NN  gap_NN  with_IN  Canada_NNP  has_VBZ  widened_VBN  significantly_RB  ,_,  the_DT  trade_NN  deficit_NN  with_IN  Western_NNP  Europe_NNP  and_CC  Japan_NNP  continues_VBZ  to_TO  narrow_VB  ._. 
And_CC  he_PRP  added_VBD  that_WDT  manufactured_VBD  goods_NNS  exports_NNS  are_VBP  still_RB  rising_VBG  ._. 
The_DT  dollar_NN  's_POS  near-term_JJ  path_NN  remains_VBZ  foggy_JJ  ,_,  according_VBG  to_TO  currencny_NN  analysts_NNS  ,_,  who_WP  characterize_VBP  the_DT  market_NN  as_IN  ``_``  bewildering_VBG  ._.  ''_'' 
In_IN  late_JJ  New_NNP  York_NNP  trading_NN  yesterday_NN  ,_,  the_DT  dollar_NN  was_VBD  quoted_VBN  at_IN  1.8667_CD  marks_NNS  ,_,  down_RB  from_IN  1.8685_CD  marks_NNS  late_JJ  Monday_NNP  ,_,  and_CC  at_IN  142.75_CD  yen_NN  ,_,  up_IN  from_IN  141.85_CD  yen_NN  late_JJ  Monday_NNP  ._. 
Sterling_NNP  was_VBD  unchanged_JJ  at_IN  $_$  1.5753_CD  ._. 
In_IN  Tokyo_NNP  Wednesday_NNP  ,_,  the_DT  U.S._NNP  currency_NN  opened_VBD  for_IN  trading_NN  at_IN  142.55_CD  yen_NN  ,_,  unchanged_JJ  from_IN  Tuesday_NNP  's_POS  Tokyo_NNP  close_NN  ._. 
Later_RB  ,_,  the_DT  U.S._NNP  currency_NN  fell_VBD  to_TO  about_IN  142.25_CD  yen_NN  on_IN  news_NN  reports_NNS  of_IN  the_DT  San_NNP  Francisco_NNP  earthquake_NN  ._. 
Some_DT  analysts_NNS  remain_VBP  bullish_JJ  and_CC  point_NN  out_RP  that_IN  the_DT  dollar_NN  continues_VBZ  to_TO  be_VB  well_JJ  bid_NN  despite_IN  key_JJ  rate_NN  increases_NNS  in_IN  Europe_NNP  and_CC  Japan_NNP  ,_,  several_JJ  weeks_NNS  of_IN  aggressive_JJ  dollar_NN  sales_NNS  by_IN  the_DT  world_NN  central_JJ  banks_NNS  --_:  some_DT  traders_NNS  estimate_VBP  that_IN  the_DT  barrage_NN  of_IN  sales_NNS  topped_VBD  $_$  12_CD  billion_CD  --_:  and_CC  a_DT  190-point_JJ  plunge_NN  on_IN  the_DT  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  ._. 
They_PRP  note_VBP  that_IN  the_DT  U.S._NNP  unit_NN  is_VBZ  trading_VBG  at_IN  the_DT  upper_JJ  end_NN  of_IN  the_DT  presumed_VBN  target_NN  zones_NNS  established_VBN  by_IN  the_DT  Group_NNP  of_IN  Seven_CD  trading_NN  partners_NNS  ._. 
The_DT  G-7_NNP  comprises_VBZ  West_NNP  Germany_NNP  ,_,  the_DT  U.S._NNP  ,_,  France_NNP  ,_,  the_DT  U.K._NNP  ,_,  Italy_NNP  ,_,  Canada_NNP  and_CC  Japan_NNP  ._. 
The_DT  so-called_NNP  Louvre_NNP  accord_NN  was_VBD  seen_VBN  to_TO  have_VB  set_VBN  ranges_NNS  of_IN  1.70_CD  marks_NNS  to_TO  1.90_CD  marks_NNS  and_CC  120_CD  yen_NN  to_TO  140_CD  yen_NN  ._. 
They_PRP  say_VBP  that_IN  the_DT  recent_JJ  injection_NN  of_IN  liquidity_NN  into_IN  the_DT  U.S._NNP  banking_NN  system_NN  has_VBZ  been_VBN  modest_JJ  ,_,  and_CC  they_PRP  do_VBP  n't_RB  anticipate_VB  significant_JJ  easing_NN  by_IN  the_DT  U.S._NNP  Federal_NNP  Reserve_NNP  ._. 
The_DT  Fed_NNP  arranged_VBD  $_$  1.5_CD  billion_CD  of_IN  customer_NN  repurchase_NN  agreements_NNS  Tuesday_NNP  ,_,  the_DT  second_JJ  repurchase_NN  agreement_NN  in_IN  two_CD  days_NNS  ._. 
The_DT  move_NN  ,_,  which_WDT  injects_VBZ  capital_NN  into_IN  the_DT  system_NN  ,_,  is_VBZ  seen_VBN  as_IN  an_DT  effort_NN  to_TO  reassure_VB  the_DT  finanicial_JJ  markets_NNS  that_IN  the_DT  U.S._NNP  central_JJ  bank_NN  is_VBZ  ready_JJ  to_TO  provide_VB  the_DT  ample_JJ  liquidity_NN  ._. 
But_CC  other_JJ  analysts_NNS  contend_VBP  that_IN  while_IN  the_DT  Fed_NNP  's_POS  move_NN  to_TO  loosen_VB  credit_NN  has_VBZ  n't_RB  been_VBN  aggressive_JJ  ,_,  it_PRP  nevertheless_RB  sends_VBZ  a_DT  clear_JJ  signal_NN  that_IN  ,_,  at_IN  least_JJS  for_IN  now_RB  ,_,  the_DT  Fed_NNP  has_VBZ  relaxed_VBN  its_PRP$  grip_NN  on_IN  credit_NN  ._. 
They_PRP  add_VBP  that_IN  the_DT  Fed_NNP  has_VBZ  allowed_VBN  the_DT  key_JJ  federal_JJ  funds_NNS  interest_VBP  rate_NN  to_TO  dip_VB  to_TO  about_IN  8_CD  5\/8_CD  %_NN  from_IN  its_PRP$  levels_NNS  of_IN  just_RB  below_IN  9_CD  %_NN  last_JJ  week_NN  ._. 
The_DT  federal_JJ  funds_NNS  rate_NN  is_VBZ  the_DT  overnight_JJ  lending_NN  rate_NN  that_IN  banks_NNS  charge_VBP  each_DT  other_NN  ._. 
Market_NN  participants_NNS  said_VBD  that_IN  the_DT  mark_NN  continues_VBZ  to_TO  post_VB  the_DT  most_RBS  significant_JJ  gains_NNS  against_IN  the_DT  dollar_NN  ._. 
On_IN  the_DT  Commodity_NNP  Exchange_NNP  in_IN  New_NNP  York_NNP  ,_,  gold_NN  for_IN  current_JJ  delivery_NN  settled_VBD  at_IN  $_$  367.40_CD  an_DT  ounce_NN  ,_,  up_IN  10_CD  cents_NNS  ._. 
Estimated_VBN  volume_NN  was_VBD  a_DT  moderate_JJ  3.5_CD  million_CD  ounces_NNS  ._. 
In_IN  early_JJ  trading_NN  in_IN  Hong_NNP  Kong_NNP  Wednesday_NNP  ,_,  gold_NN  was_VBD  at_IN  $_$  366.55_CD  an_DT  ounce_NN  ._. 
National_NNP  Semiconductor_NNP  Corp._NNP  said_VBD  it_PRP  settled_VBD  a_DT  four-year-old_JJ  patent_NN  infringement_NN  case_NN  against_IN  Linear_NNP  Technology_NNP  Corp._NNP  by_IN  accepting_VBG  a_DT  $_$  3_CD  million_CD  payment_NN  from_IN  Linear_NNP  in_IN  exchange_NN  for_IN  granting_VBG  Linear_NNP  irrevocable_JJ  licenses_NNS  for_IN  all_DT  products_NNS  involved_VBN  ._. 
The_DT  two_CD  companies_NNS  also_RB  agreed_VBD  to_TO  settle_VB  any_DT  future_NN  property_NN  rights_NNS  issues_NNS  over_IN  the_DT  next_JJ  10_CD  years_NNS  through_IN  binding_NN  arbitration_NN  ,_,  both_DT  companies_NNS  said_VBD  ._. 
The_DT  products_NNS  are_VBP  so-called_JJ  analog_NN  integrated_VBN  circuits_NNS  that_WDT  have_VBP  applications_NNS  in_IN  the_DT  consumer_NN  electronics_NNS  ,_,  automobile_NN  and_CC  electronic_JJ  instrumentation_NN  markets_NNS  ._. 
Linear_NNP  Technology_NNP  ,_,  Milpitas_NNP  ,_,  Calif._NNP  ,_,  called_VBD  the_DT  settlement_NN  ``_``  positive_JJ  ,_,  ''_''  since_IN  products_NNS  covered_VBN  by_IN  the_DT  disputed_VBN  patents_NNS  account_VBP  for_IN  about_IN  20_CD  %_NN  of_IN  its_PRP$  annual_JJ  sales_NNS  ._. 
The_DT  electronics_NNS  concern_VBP  said_VBD  it_PRP  already_RB  has_VBZ  paid_VBN  $_$  2_CD  million_CD  of_IN  the_DT  settlement_NN  to_TO  National_NNP  Semiconductor_NNP  ,_,  Santa_NNP  Clara_NNP  ,_,  Calif._NNP  ,_,  and_CC  will_MD  pay_VB  the_DT  remaining_VBG  $_$  1_CD  million_CD  in_IN  equal_JJ  installments_NNS  over_IN  the_DT  next_JJ  eight_CD  quarters_NNS  ._. 
The_DT  payments_NNS  are_VBP  n't_RB  expected_VBN  to_TO  have_VB  an_DT  impact_NN  on_IN  coming_VBG  operating_VBG  results_NNS  ,_,  Linear_NNP  added_VBD  ._. 
NBC_NNP  's_POS  winning_VBG  streak_NN  has_VBZ  been_VBN  canceled_VBN  ._. 
The_DT  National_NNP  Broadcasting_NNP  Co._NNP  ,_,  a_DT  unit_NN  of_IN  General_NNP  Electric_NNP  Co._NNP  ,_,  had_VBD  its_PRP$  record-breaking_JJ  68-week_JJ  reign_NN  as_IN  the_DT  prime-time_JJ  ratings_NNS  leader_NN  snapped_VBD  yesterday_NN  by_IN  ABC-TV_NNP  ,_,  a_DT  subsidiary_NN  of_IN  Capital_NNP  Cities\/ABC_NNP  Inc_NNP  ._. 
In_IN  the_DT  ratings_NNS  compiled_VBN  by_IN  the_DT  A.C._NNP  Nielsen_NNP  Co._NNP  ,_,  ABC_NNP  ,_,  which_WDT  broadcast_NN  the_DT  World_NNP  Series_NNP  ,_,  topped_VBD  the_DT  competition_NN  with_IN  a_DT  14.8_CD  rating_NN  and_CC  25_CD  share_NN  ._. 
NBC_NNP  was_VBD  second_JJ  with_IN  a_DT  13.9_CD  rating_NN  and_CC  24_CD  share_NN  followed_VBN  by_IN  CBS_NNP  Inc._NNP  's_POS  television_NN  network_NN  with_IN  a_DT  12.5_CD  rating_NN  and_CC  21_CD  share_NN  ._. 
-LRB-_(  A_DT  ratings_NNS  point_VBP  represents_VBZ  904,000_CD  television_NN  households_NNS  ;_:  shares_NNS  indicate_VBP  the_DT  percentage_NN  of_IN  sets_NNS  in_IN  use_NN  ._.  -RRB-_) 
The_DT  first_JJ  two_CD  games_NNS  of_IN  the_DT  World_NNP  Series_NNP  between_IN  the_DT  Oakland_NNP  Athletics_NNP  and_CC  San_NNP  Francisco_NNP  Giants_NNP  did_VBD  n't_RB  finish_VB  in_IN  the_DT  top_JJ  10_CD  ;_:  instead_RB  they_PRP  landed_VBD  in_IN  16th_JJ  and_CC  18th_JJ  place_NN  ._. 
The_DT  highest-rated_JJ  show_NN  continues_VBZ  to_TO  be_VB  ABC_NNP  's_POS  ``_``  Roseanne_NNP  ._.  ''_'' 
NBC_NNP  had_VBD  five_CD  of_IN  the_DT  top_JJ  10_CD  shows_VBZ  ;_:  ABC_NNP  had_VBD  four_CD  and_CC  CBS_NNP  had_VBD  one_CD  ._. 
CBS_NNP  held_VBD  the_DT  previous_JJ  record_NN  for_IN  consecutive_JJ  No._NN  1_CD  victories_NNS  --_:  46_CD  weeks_NNS  --_:  during_IN  the_DT  1962-63_CD  season_NN  ._. 
Procter_NNP  &_CC  Gamble_NNP  Co._NNP  ,_,  Cincinnati_NNP  ,_,  expanding_VBG  its_PRP$  presence_NN  in_IN  the_DT  food_NN  service_NN  market_NN  ,_,  said_VBD  it_PRP  acquired_VBD  Maryland_NNP  Club_NNP  Foods_NNPS  ,_,  a_DT  coffee_NN  supplier_NN  ,_,  from_IN  an_DT  investor_NN  group_NN  led_VBN  by_IN  F._NNP  Philip_NNP  Handy_NNP  of_IN  Winter_NNP  Park_NNP  ,_,  Fla_NNP  ._. 
Terms_NNS  were_VBD  n't_RB  disclosed_VBN  ._. 
Houston-based_NNP  Maryland_NNP  Club_NNP  Foods_NNPS  ,_,  which_WDT  had_VBD  sales_NNS  of_IN  about_RB  $_$  200_CD  million_CD  last_JJ  year_NN  ,_,  sells_VBZ  coffee_NN  under_IN  the_DT  Maryland_NNP  Club_NNP  and_CC  Butter-Nut_NNP  brands_NNS  to_TO  restaurants_NNS  ,_,  hotels_NNS  ,_,  offices_NNS  and_CC  airlines_NNS  ._. 
The_DT  acquisition_NN  ``_``  gives_VBZ  us_PRP  additional_JJ  production_NN  capacity_NN  for_IN  the_DT  food_NN  service_NN  coffee_NN  business_NN  and_CC  a_DT  stronger_JJR  distribution_NN  network_NN  ,_,  ''_''  a_DT  P&G_NNP  spokesman_NN  said_VBD  ._. 
P&G_NNP  already_RB  sells_VBZ  its_PRP$  Folgers_NNP  ground_NN  roast_NN  coffee_NN  to_TO  food_NN  service_NN  concerns_NNS  ,_,  but_CC  not_RB  to_TO  as_IN  many_JJ  markets_NNS  as_IN  Maryland_NNP  Club_NNP  ._. 
For_IN  example_NN  ,_,  P&G_NNP  up_IN  until_IN  now_RB  has_VBZ  n't_RB  sold_VBN  coffee_NN  to_TO  airlines_NNS  and_CC  does_VBZ  only_RB  limited_JJ  business_NN  with_IN  hotels_NNS  and_CC  large_JJ  restaurant_NN  chains_NNS  ._. 
Maryland_NNP  Club_NNP  also_RB  distributes_VBZ  tea_NN  ,_,  which_WDT  fits_VBZ  well_RB  with_IN  P&G_NNP  's_POS  Tender_NN  Leaf_NN  brand_NN  ,_,  and_CC  hot_JJ  cocoa_NN  products_NNS  ._. 
The_DT  company_NN  said_VBD  the_DT  acquisition_NN  has_VBZ  been_VBN  completed_VBN  and_CC  reviewed_VBN  by_IN  the_DT  Federal_NNP  Trade_NNP  Commission_NNP  ._. 
The_DT  purchase_NN  includes_VBZ  a_DT  coffee-roasting_JJ  plant_NN  in_IN  Omaha_NNP  ,_,  Neb._NNP  ,_,  and_CC  a_DT  leased_VBN  facility_NN  in_IN  Houston_NNP  ._. 
MACMILLAN_NNP  BLOEDEL_NNP  Ltd._NNP  said_VBD  it_PRP  borrowed_VBD  215_CD  million_CD  Dutch_JJ  guilders_NNS  -LRB-_(  US$_$  102_CD  million_CD  -RRB-_)  from_IN  a_DT  group_NN  of_IN  Dutch_JJ  institutional_JJ  investors_NNS  ._. 
MacMillan_NNP  Bloedel_NNP  ,_,  a_DT  Vancouver_NNP  ,_,  British_NNP  Columbia_NNP  ,_,  forest_NN  products_NNS  concern_VBP  ,_,  said_VBD  the_DT  8.1_CD  %_NN  loan_NN  is_VBZ  due_JJ  Oct._NNP  16_CD  ,_,  1996_CD  ._. 
Funds_NNS  will_MD  be_VB  used_VBN  to_TO  repay_VB  existing_VBG  short-term_JJ  debt_NN  and_CC  to_TO  finance_VB  capital_NN  spending_NN  ,_,  it_PRP  said_VBD  ._. 
President_NNP  Bush_NNP  will_MD  veto_VB  a_DT  bill_NN  funding_VBG  the_DT  Departments_NNPS  of_IN  Labor_NNP  ,_,  Education_NNP  and_CC  Health_NNP  and_CC  Human_NNP  Services_NNP  because_IN  it_PRP  would_MD  allow_VB  federal_JJ  funding_NN  of_IN  abortions_NNS  for_IN  victims_NNS  of_IN  rape_NN  and_CC  incest_NN  ,_,  the_DT  White_NNP  House_NNP  said_VBD  ._. 
Mr._NNP  Bush_NNP  had_VBD  threatened_VBN  a_DT  veto_NN  previously_RB  ._. 
But_CC  he_PRP  put_VBP  off_IN  a_DT  firm_NN  decision_NN  while_IN  his_PRP$  aides_NNS  and_CC  legislators_NNS  searched_VBD  for_IN  a_DT  compromise_NN  that_WDT  would_MD  tighten_VB  requirements_NNS  for_IN  such_JJ  abortions_NNS  in_IN  a_DT  way_NN  acceptable_JJ  to_TO  the_DT  president_NN  ._. 
White_NNP  House_NNP  Press_NNP  Secretary_NNP  Marlin_NNP  Fitzwater_NNP  said_VBD  negotiations_NNS  between_IN  Bush_NNP  aides_NNS  and_CC  lawmakers_NNS  ended_VBD  Monday_NNP  without_IN  success_NN  ._. 
Most_JJS  lawmakers_NNS  think_VBP  it_PRP  will_MD  be_VB  extremely_RB  difficult_JJ  for_IN  Mr._NNP  Bush_NNP  's_POS  opponents_NNS  on_IN  the_DT  abortion_NN  issue_NN  to_TO  round_VB  up_IN  the_DT  votes_NNS  needed_VBN  to_TO  override_VB  the_DT  veto_NN  ._. 
But_CC  there_EX  still_RB  may_MD  be_VB  prolonged_VBN  debate_NN  and_CC  political_JJ  maneuvering_NN  that_WDT  holds_VBZ  up_IN  the_DT  $_$  156.7_CD  billion_CD  funding_NN  bill_NN  for_IN  the_DT  fiscal_JJ  year_NN  that_WDT  began_VBD  Oct._NNP  1_CD  ._. 
Mr._NNP  Bush_NNP  has_VBZ  said_VBD  he_PRP  personally_RB  approves_VBZ  of_IN  abortions_NNS  in_IN  the_DT  cases_NNS  of_IN  rape_NN  ,_,  incest_NN  and_CC  danger_NN  to_TO  the_DT  life_NN  of_IN  the_DT  mother_NN  ._. 
But_CC  he_PRP  has_VBZ  opposed_VBN  Medicaid_NNP  funding_NN  of_IN  abortions_NNS  for_IN  poor_JJ  women_NNS  who_WP  say_VBP  they_PRP  are_VBP  victims_NNS  of_IN  rape_NN  and_CC  incest_NN  ,_,  arguing_VBG  that_IN  those_DT  exceptions_NNS  are_VBP  enforced_VBN  so_RB  loosely_RB  that_IN  they_PRP  open_VB  the_DT  way_NN  for_IN  abortions_NNS  for_IN  other_JJ  women_NNS  ._. 
NEWSPAPERS_NNS  :_: 
Media_NNP  General_NNP  Inc._NNP  intends_VBZ  to_TO  sell_VB  two_CD  of_IN  its_PRP$  West_NNP  Coast_NNP  weekly_JJ  newspaper_NN  chains_NNS  ,_,  Golden_NNP  West_NNP  Publishing_NNP  Inc._NNP  and_CC  Highlander_NNP  Publications_NNP  ,_,  which_WDT  together_RB  comprise_VBP  31_CD  papers_NNS  ._. 
Media_NNP  General_NNP  said_VBD  it_PRP  has_VBZ  had_VBN  inquiries_NNS  from_IN  potential_JJ  buyers_NNS  and_CC  expects_VBZ  to_TO  complete_VB  a_DT  sale_NN  in_IN  1989_CD  ._. 
It_PRP  would_MD  n't_RB  discuss_VB  a_DT  price_NN  ._. 
Lee_NNP  Dirks_NNP  &_CC  Associates_NNPS  is_VBZ  to_TO  sell_VB  the_DT  chains_NNS  ._. 
J.P._NNP  Morgan_NNP  &_CC  Co._NNP  ,_,  New_NNP  York_NNP  ,_,  will_MD  help_VB  the_DT  statutory_JJ  managers_NNS  of_IN  DFC_NNP  New_NNP  Zealand_NNP  Ltd._NNP  to_TO  evaluate_VB  the_DT  failed_VBN  investment_NN  bank_NN  's_POS  condition_NN  ._. 
Earlier_RBR  this_DT  month_NN  ,_,  the_DT  Reserve_NNP  Bank_NNP  of_IN  New_NNP  Zealand_NNP  ,_,  the_DT  country_NN  's_POS  central_JJ  bank_NN  ,_,  appointed_VBD  the_DT  managers_NNS  to_TO  run_VB  the_DT  investment_NN  bank_NN  and_CC  pay_VB  creditors_NNS  ._. 
DFC_NNP  asked_VBD  the_DT  central_JJ  bank_NN  to_TO  appoint_VB  managers_NNS  after_IN  it_PRP  revised_VBD  loan-loss_NN  provisions_NNS  to_TO  around_IN  the_DT  same_JJ  level_NN  of_IN  shareholders_NNS  '_POS  funds_NNS  of_IN  180_CD  million_CD  New_NNP  Zealand_NNP  dollars_NNS  -LRB-_(  US$_$  105.4_CD  million_CD  -RRB-_)  ._. 
DFC_NNP  is_VBZ  held_VBN  80_CD  %_NN  by_IN  National_NNP  Provident_NNP  Fund_NNP  ,_,  New_NNP  Zealand_NNP  's_POS  largest_JJS  pension_NN  fund_NN  ,_,  and_CC  20_CD  %_NN  by_IN  Salomon_NNP  Brothers_NNP  Inc._NNP  ,_,  the_DT  investment-bank_JJ  and_CC  securities-firm_NN  subsidiary_NN  of_IN  Salomon_NNP  Inc._NNP  in_IN  New_NNP  York_NNP  ._. 
A_DT  spokeswoman_NN  for_IN  J.P._NNP  Morgan_NNP  ,_,  parent_NN  of_IN  the_DT  bank_NN  Morgan_NNP  Guaranty_NNP  Trust_NNP  Co._NNP  ,_,  confirmed_VBD  its_PRP$  appointment_NN  to_TO  assist_VB  the_DT  managers_NNS  but_CC  declined_VBD  to_TO  elaborate_VB  ._. 
The_DT  managers_NNS  said_VBD  in_IN  a_DT  brief_JJ  statement_NN  yesterday_NN  that_IN  Morgan_NNP  will_MD  help_VB  evaluate_VB  DFC_NNP  's_POS  position_NN  and_CC  help_VB  determine_VB  alternatives_NNS  ._. 
The_DT  managers_NNS  do_VBP  n't_RB  expect_VB  to_TO  complete_VB  the_DT  evaluation_NN  until_IN  Nov._NNP  30_CD  ._. 
An_DT  experimental_JJ  vaccine_NN  can_MD  alter_VB  the_DT  immune_JJ  response_NN  of_IN  people_NNS  infected_VBN  with_IN  the_DT  AIDS_NNP  virus_NN  ,_,  a_DT  prominent_JJ  U.S._NNP  scientist_NN  said_VBD  ._. 
However_RB  ,_,  that_WDT  does_VBZ  n't_RB  mean_VB  they_PRP  can_MD  benefit_VB  from_IN  the_DT  vaccine_NN  ._. 
Its_PRP$  effectiveness_NN  ca_MD  n't_RB  be_VB  determined_VBN  until_IN  a_DT  large_JJ  clinical_JJ  trial_NN  is_VBZ  undertaken_VBN  by_IN  the_DT  Army_NNP  in_IN  January_NNP  ,_,  according_VBG  to_TO  Robert_NNP  Redfield_NNP  ,_,  chief_NN  of_IN  acquired_VBN  immune_JJ  deficiency_NN  syndrome_NN  research_NN  at_IN  Walter_NNP  Reed_NNP  Army_NNP  Institute_NNP  of_IN  Research_NNP  ._. 
Dr._NNP  Redfield_NNP  's_POS  report_NN  on_IN  early_JJ  experiments_NNS  using_VBG  an_DT  AIDS_NNP  vaccine_NN  made_VBN  by_IN  MicroGeneSys_NNP  Inc._NNP  of_IN  West_NNP  Haven_NNP  ,_,  Conn._NNP  ,_,  came_VBD  at_IN  a_DT  meeting_NN  of_IN  AIDS_NNP  vaccine_NN  researchers_NNS  in_IN  Florida_NNP  late_JJ  Monday_NNP  ._. 
The_DT  vaccine_NN  ,_,  VaxSyn_NNP  HIV-1_NNP  ,_,  has_VBZ  been_VBN  safely_RB  given_VBN  to_TO  14_CD  people_NNS  ,_,  some_DT  of_IN  whom_WP  are_VBP  experiencing_VBG  substantial_JJ  increases_NNS  in_IN  certain_JJ  antibodies_NNS  ._. 
``_``  The_DT  conventional_JJ  wisdom_NN  used_VBN  to_TO  be_VB  that_IN  you_PRP  could_MD  n't_RB  modify_VB  the_DT  immune_JJ  response_NN  of_IN  an_DT  infected_VBN  individual_JJ  ''_''  by_IN  innoculating_VBG  them_PRP  with_IN  synthetic_JJ  viral_JJ  proteins_NNS  ,_,  Dr._NNP  Redfield_NNP  said_VBD  ._. 
``_``  We_PRP  've_VBP  demonstrated_VBN  that_IN  you_PRP  can_MD  ._.  ''_'' 
He_PRP  said_VBD  certain_JJ  volunteers_NNS  developed_VBD  kinds_NNS  of_IN  antibodies_NNS  associated_VBN  with_IN  early_JJ  AIDS_NNP  ._. 
Other_JJ  antibodies_NNS  sparked_VBN  by_IN  the_DT  preparation_NN  are_VBP  of_IN  a_DT  sort_NN  rarely_RB  present_JJ  in_IN  large_JJ  quantities_NNS  in_IN  infected_VBN  or_CC  ill_JJ  individuals_NNS  ,_,  he_PRP  added_VBD  ._. 
One_CD  of_IN  the_DT  mysteries_NNS  of_IN  AIDS_NNP  remains_VBZ  why_WRB  infected_VBN  people_NNS  produce_VBP  large_JJ  quantities_NNS  of_IN  antibodies_NNS  ,_,  but_CC  deteriorate_VB  nonetheless_RB  ._. 
Cross_NNP  &_CC  Trecker_NNP  Corp._NNP  said_VBD  it_PRP  reached_VBD  an_DT  agreement_NN  to_TO  sell_VB  its_PRP$  Wiedemann_NNP  division_NN  to_TO  recently_RB  created_VBN  Murata_NNP  Wiedemann_NNP  Inc._NNP  ,_,  a_DT  U.S._NNP  affiliate_NN  of_IN  Murata_NNP  Machinery_NNP  Ltd._NNP  of_IN  Kyoto_NNP  ,_,  Japan_NNP  ._. 
The_DT  agreement_NN  also_RB  includes_VBZ  the_DT  purchase_NN  of_IN  Cross_NNP  &_CC  Trecker_NNP  's_POS  Warner_NNP  &_CC  Swasey_NNP  -LRB-_(  Switzerland_NNP  -RRB-_)  AG_NNP  unit_NN  by_IN  a_DT  European_JJ  affiliate_NN  of_IN  Murata_NNP  Machinery_NNP  ._. 
Cross_NNP  &_CC  Trecker_NNP  is_VBZ  also_RB  selling_VBG  its_PRP$  equity_NN  interest_NN  in_IN  a_DT  Japanese_JJ  joint_JJ  venture_NN  ,_,  Murata_NNP  Warner_NNP  Swasey_NNP  ,_,  to_TO  Murata_NNP  Machinery_NNP  ._. 
Cross_NNP  &_CC  Trecker_NNP  ,_,  a_DT  Bloomfield_NNP  Hills_NNP  ,_,  Mich._NNP  ,_,  machine-tool_JJ  maker_NN  ,_,  said_VBD  the_DT  net_JJ  sales_NNS  price_NN  of_IN  the_DT  total_JJ  transaction_NN  is_VBZ  $_$  24_CD  million_CD  ._. 
The_DT  Wiedemann_NNP  division_NN  was_VBD  one_CD  of_IN  three_CD  businesses_NNS  put_VBP  up_IN  for_IN  sale_NN  in_IN  Cross_NNP  &_CC  Trecker_NNP  's_POS  restructuring_NN  program_NN  announced_VBD  in_IN  July_NNP  ._. 
Cross_NNP  &_CC  Trecker_NNP  said_VBD  negotiations_NNS  are_VBP  under_IN  way_NN  for_IN  the_DT  sale_NN  of_IN  another_DT  company_NN  ,_,  RobertsCorp_NNP  ._. 
The_DT  average_JJ  interest_NN  rate_NN  fell_VBD  to_TO  8.292_CD  %_NN  at_IN  Citicorp_NNP  's_POS  $_$  50_CD  million_CD  weekly_JJ  auction_NN  of_IN  91-day_JJ  commercial_JJ  paper_NN  ,_,  or_CC  corporate_JJ  IOUs_NNS  ,_,  from_IN  8.483_CD  %_NN  at_IN  last_JJ  week_NN  's_POS  sale_NN  ._. 
Bids_NNS  totaling_VBG  $_$  465_CD  million_CD  were_VBD  submitted_VBN  ,_,  and_CC  accepted_VBD  bids_NNS  were_VBD  at_IN  8.292_CD  %_NN  ._. 
Citicorp_NNP  also_RB  said_VBD  that_IN  the_DT  average_JJ  rate_NN  fell_VBD  to_TO  7.986_CD  %_NN  at_IN  its_PRP$  $_$  50_CD  million_CD  auction_NN  of_IN  182-day_JJ  commercial_JJ  paper_NN  from_IN  8.1255_CD  %_NN  at_IN  last_JJ  week_NN  's_POS  sale_NN  ._. 
Bids_NNS  totaling_VBG  $_$  415_CD  million_CD  were_VBD  submitted_VBN  ,_,  and_CC  accepted_VBD  bids_NNS  were_VBD  at_IN  7.986_CD  %_NN  ._. 
The_DT  bank_NN  holding_VBG  company_NN  will_MD  auction_VB  another_DT  $_$  50_CD  million_CD  of_IN  commercial_JJ  paper_NN  in_IN  each_DT  maturity_NN  next_JJ  Tuesday_NNP  ._. 
Matra_NNP  S.A._NNP  reported_VBD  its_PRP$  1989_CD  first-half_JJ  profit_NN  soared_VBD  88_CD  %_NN  ,_,  and_CC  indicated_VBD  that_IN  its_PRP$  previous_JJ  estimate_NN  of_IN  a_DT  50_CD  %_NN  rise_NN  in_IN  earnings_NNS  for_IN  all_DT  of_IN  1989_CD  will_MD  be_VB  exceeded_VBN  by_IN  a_DT  wide_JJ  margin_NN  ._. 
The_DT  French_JJ  electronics_NNS  and_CC  defense_NN  group_NN  said_VBD  attributable_JJ  consolidated_JJ  net_JJ  profit_NN  for_IN  the_DT  first_JJ  six_CD  months_NNS  of_IN  1989_CD  totaled_VBD  244_CD  million_CD  francs_NNS  -LRB-_(  $_$  38.4_CD  million_CD  -RRB-_)  ,_,  compared_VBN  with_IN  130_CD  million_CD  francs_NNS  -LRB-_(  $_$  20.5_CD  million_CD  -RRB-_)  in_IN  the_DT  corresponding_JJ  period_NN  of_IN 
Operating_NN  profit_NN  climbed_VBD  51_CD  %_NN  ,_,  to_TO  572_CD  million_CD  francs_NNS  from_IN  378_CD  million_CD  in_IN  the_DT  first_JJ  half_NN  of_IN  1988_CD  ._. 
Matra_NNP  said_VBD  the_DT  sharp_JJ  improvement_NN  in_IN  net_JJ  profit_NN  partly_RB  reflected_VBD  a_DT  decline_NN  of_IN  59_CD  million_CD  francs_NNS  in_IN  the_DT  group_NN  's_POS  net_JJ  loss_NN  from_IN  nonrecurring_VBG  items_NNS  in_IN  the_DT  first_JJ  half_NN  of_IN  this_DT  year_NN  to_TO  104_CD  million_CD  francs_NNS  from_IN  163_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
There_EX  was_VBD  also_RB  a_DT  decline_NN  in_IN  the_DT  group_NN  's_POS  net_JJ  financial_JJ  costs_NNS  to_TO  25_CD  million_CD  francs_NNS  from_IN  50_CD  million_CD  a_DT  year_NN  before_RB  ._. 
These_DT  movements_NNS  were_VBD  offset_VBN  ,_,  however_RB  ,_,  by_IN  a_DT  steep_JJ  rise_NN  in_IN  corporate_JJ  income_NN  tax_NN  payments_NNS  to_TO  199_CD  million_CD  francs_NNS  from_IN  35_CD  million_CD  in_IN  the_DT  first_JJ  six_CD  months_NNS  of_IN  1988_CD  ._. 
Matra_NNP  said_VBD  the_DT  sharp_JJ  rise_NN  in_IN  its_PRP$  first-half_JJ  earnings_NNS  was_VBD  based_VBN  on_IN  a_DT  15_CD  %_NN  gain_NN  in_IN  consolidated_JJ  revenue_NN  to_TO  10.16_CD  billion_CD  francs_NNS  from_IN  8.85_CD  billion_CD  a_DT  year_NN  earlier_RBR  ._. 
Rep._NNP  Lee_NNP  Hamilton_NNP  -LRB-_(  D._NNP  ,_,  Ind_NNP  ._.  -RRB-_)  said_VBD  he_PRP  and_CC  Rep._NNP  Byron_NNP  Dorgan_NNP  -LRB-_(  D._NNP  ,_,  N.D_NNP  ._.  -RRB-_)  are_VBP  backing_VBG  away_RB  from_IN  their_PRP$  proposal_NN  to_TO  make_VB  the_DT  Treasury_NNP  Secretary_NNP  a_DT  voting_NN  member_NN  of_IN  the_DT  Federal_NNP  Reserve_NNP  panel_NN  that_IN  sets_NNS  monetary_JJ  policy_NN  ._. 
Rep._NNP  Hamilton_NNP  said_VBD  the_DT  bill_NN  will_MD  be_VB  modified_VBN  substantially_RB  to_TO  call_VB  for_IN  two_CD  meetings_NNS  each_DT  year_NN  between_IN  the_DT  Fed_NNP  's_POS  open_JJ  market_NN  committee_NN  and_CC  the_DT  Treasury_NNP  Secretary_NNP  ,_,  the_DT  chairman_NN  of_IN  the_DT  Council_NNP  of_IN  Economic_NNP  Advisers_NNPS  and_CC  the_DT  director_NN  of_IN  the_DT  Office_NNP  of_IN  Management_NNP  and_CC  Budget_NNP  ._. 
The_DT  original_JJ  bill_NN  was_VBD  strongly_RB  opposed_VBN  by_IN  the_DT  Fed_NNP  and_CC  publicly_RB  criticized_VBN  by_IN  friends_NNS  of_IN  the_DT  Fed_NNP  as_IN  an_DT  attempt_NN  to_TO  undermine_VB  the_DT  central_JJ  bank_NN  's_POS  independence_NN  ._. 
Fed_JJ  critics_NNS  ,_,  however_RB  ,_,  hailed_VBD  it_PRP  as_IN  a_DT  long_JJ  overdue_JJ  attempt_NN  to_TO  bring_VB  a_DT  measure_NN  of_IN  openness_NN  and_CC  democracy_NN  to_TO  the_DT  setting_NN  of_IN  monetary_JJ  policy_NN  ._. 
Rep._NNP  Hamilton_NNP  said_VBD  the_DT  purpose_NN  of_IN  the_DT  meetings_NNS  would_MD  be_VB  to_TO  ``_``  improve_VB  communications_NNS  and_CC  perhaps_RB  coordination_NN  between_IN  the_DT  executive_JJ  branch_NN  and_CC  the_DT  Fed_NNP  ._.  ''_'' 
Fed_NNP  Chairman_NNP  Alan_NNP  Greenspan_NNP  meets_VBZ  regularly_RB  for_IN  lunch_NN  with_IN  Treasury_NNP  Secretary_NNP  Nicholas_NNP  Brady_NNP  and_CC  talks_NNS  frequently_RB  with_IN  Budget_NNP  Director_NNP  Richard_NNP  Darman_NNP  and_CC  Michael_NNP  Boskin_NNP  ,_,  chairman_NN  of_IN  the_DT  Council_NNP  of_IN  Economic_NNP  Advisers_NNPS  ._. 
The_DT  administration_NN  officials_NNS  do_VBP  n't_RB  ordinarily_RB  meet_VB  with_IN  the_DT  entire_JJ  membership_NN  of_IN  the_DT  open_JJ  market_NN  committee_NN  ._. 
B.F._NNP  Goodrich_NNP  Co._NNP  said_VBD  third-quarter_JJ  profits_NNS  dropped_VBD  34_CD  %_NN  because_IN  of_IN  lower_JJR  prices_NNS  for_IN  polyvinyl_NN  chloride_NN  materials_NNS  ,_,  the_DT  company_NN  's_POS  largest_JJS  product_NN  group_NN  ._. 
Net_NN  fell_VBD  to_TO  $_$  40.1_CD  million_CD  ,_,  or_CC  $_$  1.50_CD  a_DT  share_NN  ,_,  from_IN  $_$  60.7_CD  million_CD  ,_,  or_CC  $_$  2.32_CD  a_DT  share_NN  ,_,  a_DT  year_NN  earlier_RBR  ._. 
Sales_NNS  for_IN  the_DT  quarter_NN  slipped_VBD  2.7_CD  %_NN  to_TO  $_$  601.3_CD  million_CD  from_IN  $_$  618.1_CD  million_CD  ._. 
Polyvinyl_NN  chloride_NN  capacity_NN  ``_``  has_VBZ  overtaken_VBN  demand_NN  and_CC  we_PRP  are_VBP  experiencing_VBG  reduced_VBN  profit_NN  margins_NNS  as_IN  a_DT  result_NN  ,_,  ''_''  said_VBD  John_NNP  D._NNP  Ong_NNP  ,_,  chairman_NN  and_CC  chief_JJ  executive_NN  ._. 
Prices_NNS  for_IN  general-purpose_JJ  PVC_NNP  resin_NN  have_VBP  dropped_VBN  more_JJR  than_IN  15_CD  %_NN  since_IN  last_JJ  December_NNP  ,_,  he_PRP  said_VBD  ._. 
The_DT  plastic_NN  resin_NN  is_VBZ  used_VBN  in_IN  a_DT  wide_JJ  range_NN  of_IN  products_NNS  ,_,  including_VBG  siding_NN  ,_,  pipe_NN  and_CC  electrical_JJ  wire_NN  insulation_NN  ._. 
Goodrich_NNP  's_POS  vinyl-products_NNS  segment_VBP  reported_VBD  operating_VBG  profit_NN  for_IN  the_DT  quarter_NN  of_IN  $_$  30.1_CD  million_CD  ,_,  less_JJR  than_IN  half_PDT  the_DT  $_$  64.1_CD  million_CD  of_IN  the_DT  year-earlier_JJ  quarter_NN  ._. 
Third-quarter_JJ  operating_NN  profit_NN  of_IN  the_DT  specialty-chemicals_NNS  group_VBP  declined_VBD  slightly_RB  to_TO  $_$  24.3_CD  million_CD  from_IN  $_$  24.9_CD  million_CD  ._. 
But_CC  operating_VBG  profit_NN  from_IN  aerospace_NN  products_NNS  rose_VBD  nearly_RB  50_CD  %_NN  to_TO  $_$  15_CD  million_CD  from_IN  $_$  10.1_CD  million_CD  ._. 
In_IN  New_NNP  York_NNP  Stock_NNP  Exchange_NNP  composite_JJ  trading_NN  ,_,  shares_VBZ  of_IN  the_DT  Akron_NNP  ,_,  Ohio-based_JJ  company_NN  fell_VBD  $_$  1.375_CD  to_TO  $_$  49.125_CD  ._. 
Fiat_NNP  S.p_NNP  ._.  A._NNP  ,_,  Italy_NNP  's_POS  leading_VBG  industrial_JJ  group_NN  ,_,  is_VBZ  conducting_VBG  ``_``  concrete_JJ  ''_''  talks_NNS  with_IN  West_NNP  Germany_NNP  's_POS  Daimler-Benz_NNP  AG_NNP  on_IN  a_DT  series_NN  of_IN  projects_NNS  in_IN  the_DT  aerospace_NN  sector_NN  ,_,  Fiat_NNP  officials_NNS  said_VBD  ._. 
However_RB  ,_,  the_DT  officials_NNS  said_VBD  it_PRP  was_VBD  too_RB  early_JJ  to_TO  disclose_VB  the_DT  nature_NN  of_IN  the_DT  proposed_VBN  projects_NNS  or_CC  indicate_VB  when_WRB  the_DT  talks_NNS  might_MD  be_VB  concluded_VBN  ._. 
Daimler-Benz_NNP  Chairman_NNP  Edzard_NNP  Reuter_NNP  told_VBD  Milan_NNP  's_POS  financial_JJ  daily_JJ  Il_FW  Sole_NNP  24_CD  Ore_NNP  that_IN  talks_NNS  are_VBP  taking_VBG  place_NN  between_IN  both_DT  companies_NNS  '_POS  aerospace_NN  units_NNS  ._. 
``_``  While_IN  Mr._NNP  Reuter_NNP  's_POS  comments_NNS  please_VBP  us_PRP  very_RB  much_RB  ,_,  there_EX  currently_RB  are_VBP  no_DT  talks_NNS  in_IN  progress_NN  regarding_VBG  the_DT  automotive_JJ  industry_NN  ,_,  ''_''  a_DT  Fiat_NNP  spokeswoman_NN  said_VBD  ._. 
In_IN  the_DT  interview_NN  ,_,  Mr._NNP  Reuter_NNP  said_VBD  he_PRP  is_VBZ  thinking_VBG  foremost_JJ  of_IN  cooperation_NN  in_IN  the_DT  truck_NN  sector_NN  ,_,  but_CC  ``_``  in_IN  the_DT  long_JJ  run_NN  ,_,  I_PRP  do_VBP  n't_RB  want_VB  to_TO  rule_VB  out_RP  that_IN  we_PRP  can_MD  also_RB  come_VB  a_DT  bit_NN  closer_JJR  in_IN  personal_JJ  cars_NNS  ._.  ''_'' 
Roberto_NNP  Morelli_NNP  ,_,  Italy_NNP  analyst_NN  for_IN  County_NNP  Natwest_NNP  Securities_NNPS  in_IN  London_NNP  ,_,  said_VBD  that_DT  right_RB  now_RB  ``_``  the_DT  market_NN  is_VBZ  n't_RB  being_VBG  influenced_VBN  by_IN  that_DT  kind_NN  of_IN  news_NN  ,_,  ''_''  referring_VBG  to_TO  the_DT  conditional_JJ  nature_NN  of_IN  the_DT  talks_NNS  mentioned_VBN  by_IN  Mr._NNP  Reuter_NNP  and_CC  by_IN  the_DT  uncertainty_NN  surrounding_VBG  world_NN  stock_NN  exchanges_VBZ  this_DT  week_NN  ._. 
Paul_NNP  Tanner_NNP  was_VBD  named_VBN  president_NN  ,_,  chief_JJ  executive_JJ  officer_NN  and_CC  chairman_NN  of_IN  this_DT  oil_NN  and_CC  natural_JJ  gas_NN  company_NN  ._. 
He_PRP  succeeds_VBZ  John_NNP  A._NNP  Boudreau_NNP  ,_,  who_WP  resigned_VBD  for_IN  personal_JJ  reasons_NNS  ._. 
Mr._NNP  Tanner_NNP  had_VBD  been_VBN  president_NN  of_IN  Penn_NNP  Pacific_NNP  's_POS  National_NNP  Southwest_NNP  Capital_NNP  Group_NNP  subsidiary_NN  ._. 
Mr._NNP  Boudreau_NNP  will_MD  remain_VB  with_IN  Penn_NNP  Pacific_NNP  as_IN  a_DT  director_NN  and_CC  a_DT  member_NN  of_IN  the_DT  executive_JJ  committee_NN  ._. 
He_PRP  has_VBZ  also_RB  agreed_VBN  to_TO  become_VB  president_NN  of_IN  a_DT  new_JJ  subsidiary_NN  to_TO  be_VB  formed_VBN  to_TO  make_VB  future_NN  acquisitions_NNS  ,_,  the_DT  company_NN  said_VBD  ._. 
Spooked_VBN  investors_NNS  ,_,  despite_IN  their_PRP$  stampede_NN  to_TO  dump_VB  takeover_NN  stocks_NNS  ,_,  should_MD  hold_VB  on_IN  tight_JJ  to_TO  their_PRP$  Jaguar_NNP  shares_NNS  ._. 
That_DT  's_VBZ  the_DT  view_NN  of_IN  some_DT  analysts_NNS  here_RB  who_WP  argue_VBP  that_IN  Britain_NNP  's_POS  leading_VBG  maker_NN  of_IN  luxury_NN  cars_NNS  still_RB  may_MD  have_VB  two_CD  U.S._NNP  auto_NN  giants_NNS  battling_VBG  for_IN  it_PRP  ._. 
Yesterday_NN  ,_,  Ford_NNP  Motor_NNP  disclosed_VBD  that_IN  it_PRP  has_VBZ  raised_VBN  its_PRP$  holding_NN  in_IN  Jaguar_NNP  to_TO  10.4_CD  %_NN  from_IN  5_NN  %_NN  ._. 
Both_DT  Ford_NNP  and_CC  its_PRP$  rival_JJ  General_NNP  Motors_NNPS  recently_RB  set_VBN  their_PRP$  sights_NNS  on_IN  grabbing_VBG  significant_JJ  minority_NN  stakes_NNS  in_IN  the_DT  British_JJ  company_NN  ._. 
Ford_NNP  's_POS  latest_JJS  move_NN  increases_VBZ  the_DT  pressure_NN  on_IN  GM_NNP  to_TO  complete_VB  its_PRP$  current_JJ  talks_NNS  with_IN  Jaguar_NNP  quickly_RB  ._. 
GM_NNP  is_VBZ  likely_JJ  to_TO  reach_VB  the_DT  cooperative_JJ  operating_NN  pact_NN  it_PRP  has_VBZ  been_VBN  seeking_VBG  in_IN  about_IN  two_CD  weeks_NNS  ,_,  knowledgeable_JJ  individuals_NNS  say_VBP  ._. 
At_IN  that_DT  point_NN  investors_NNS  may_MD  face_VB  a_DT  long_JJ  ,_,  bumpy_JJ  ride_NN  ._. 
A_DT  victor_NN  in_IN  the_DT  fight_NN  for_IN  Jaguar_NNP  may_MD  not_RB  emerge_VB  until_IN  after_IN  the_DT  expiration_NN  late_JJ  next_JJ  year_NN  of_IN  British_JJ  government_NN  takeover_NN  restrictions_NNS  ._. 
The_DT  curbs_NNS  prevent_VBP  a_DT  buyer_NN  from_IN  purchasing_VBG  more_JJR  than_IN  15_CD  %_NN  of_IN  Jaguar_NNP  shares_NNS  without_IN  permission_NN  ._. 
``_``  This_DT  is_VBZ  an_DT  exceptionally_RB  odd_JJ  takeover_NN  battle_NN  ,_,  ''_''  says_VBZ  London_NNP  analyst_NN  Christopher_NNP  Will_MD  of_IN  Shearson_NNP  Lehman_NNP  Hutton_NNP  ._. 
Jaguar_NNP  's_POS  American_JJ  depositary_NN  receipts_NNS  were_VBD  up_IN  3\/8_CD  yesterday_NN  in_IN  a_DT  down_JJ  market_NN  ,_,  closing_VBG  at_IN  10_CD  3\/8_CD  ._. 
-LRB-_(  Jaguar_NNP  's_POS  ADRs_NNS  make_VBP  the_DT  company_NN  one_CD  of_IN  the_DT  most_RBS  widely_RB  held_VBN  United_NNP  Kingdom_NNP  stocks_NNS  in_IN  the_DT  U.S._NNP  ,_,  with_IN  more_JJR  than_IN  one-fourth_NN  of_IN  its_PRP$  shares_NNS  owned_VBN  there_RB  ._.  -RRB-_) 
Jaguar_NNP  topped_VBD  the_DT  most-active_JJ  list_NN  for_IN  the_DT  U.S._NNP  over-the-counter_JJ  market_NN  Monday_NNP  ._. 
And_CC  on_IN  London_NNP  's_POS  Stock_NNP  Exchange_NNP  Monday_NNP  ,_,  18.5_CD  million_CD  shares_NNS  were_VBD  traded_VBN  ,_,  far_RB  above_IN  the_DT  usual_JJ  volume_NN  ._. 
Ford_NNP  's_POS  share_NN  purchases_NNS  undoubtedly_RB  accounted_VBD  for_IN  much_NN  of_IN  Monday_NNP  's_POS  heavy_JJ  trading_NN  ._. 
Last_JJ  week_NN  ,_,  many_JJ  Jaguar_NNP  shareholders_NNS  took_VBD  their_PRP$  money_NN  and_CC  ran_VBD  ._. 
Fears_NNS  that_IN  Ford_NNP  's_POS  ardor_NN  might_MD  be_VB  cooling_NN  put_NN  Jaguar_NNP  shares_NNS  into_IN  reverse_NN  after_IN  GM_NNP  confirmed_VBD  its_PRP$  friendly_JJ  negotiations_NNS  with_IN  Jaguar_NNP  ._. 
But_CC  yesterday_NN  's_POS  announcement_NN  indicates_VBZ  that_IN  Ford_NNP  has_VBZ  n't_RB  lost_VBN  interest_NN  ._. 
Both_DT  Shearson_NNP  's_POS  Mr_NNP  ._.  Will_MD  and_CC  Stephen_NNP  Reitman_NNP  ,_,  European_JJ  auto_NN  analyst_NN  at_IN  the_DT  London_NNP  brokerage_NN  firm_NN  UBS-Phillips_NNP  &_CC  Drew_NNP  ,_,  recently_RB  switched_VBD  their_PRP$  Jaguar_NNP  recommendations_NNS  to_TO  hold_VB  from_IN  buy_NN  ._. 
``_``  Sit_VB  tight_JJ  ''_''  through_IN  the_DT  coming_VBG  volatility_NN  ,_,  Mr._NNP  Reitman_NNP  suggests_VBZ  ,_,  though_IN  he_PRP  concedes_VBZ  that_IN  many_JJ  small_JJ  investors_NNS  will_MD  find_VB  Jaguar_NNP  's_POS  zigzags_NNS  ``_``  too_RB  hard_JJ  to_TO  swallow_VB  ._.  ''_'' 
But_CC  a_DT  crucial_JJ  point_NN  is_VBZ  how_WRB  Ford_NNP  reacts_VBZ  when_WRB  GM_NNP  ,_,  the_DT  world_NN  's_POS  largest_JJS  auto_NN  maker_NN  ,_,  firms_VBZ  up_IN  its_PRP$  proposed_VBN  deal_NN  with_IN  Jaguar_NNP  ._. 
At_IN  the_DT  moment_NN  ,_,  Ford_NNP  executives_NNS  will_MD  say_VB  little_JJ  beyond_IN  reiterating_VBG  their_PRP$  desire_NN  to_TO  raise_VB  Ford_NNP  's_POS  Jaguar_NNP  stake_NN  to_TO  about_IN  15_CD  %_NN  ._. 
GM_NNP  is_VBZ  expected_VBN  to_TO  inject_VB  roughly_RB  #_#  200_CD  million_CD  -LRB-_(  $_$  316_CD  million_CD  -RRB-_)  by_IN  acquiring_VBG  some_DT  Jaguar_NNP  shares_NNS  ,_,  and_CC  then_RB  win_VB  Jaguar_NNP  management_NN  's_POS  promise_NN  of_IN  an_DT  eventual_JJ  30_CD  %_NN  stake_NN  ._. 
Analysts_NNS  believe_VBP  the_DT  car_NN  makers_NNS  also_RB  will_MD  create_VB  joint_JJ  ventures_NNS  to_TO  develop_VB  new_JJ  executive_NN  models_NNS  ,_,  doubling_VBG  Jaguar_NNP  's_POS  yearly_JJ  output_NN  of_IN  50,000_CD  cars_NNS  ._. 
Jaguar_NN  shareholders_NNS  would_MD  have_VB  to_TO  bless_VB  such_JJ  a_DT  far-reaching_JJ  accord_NN  ._. 
Ford_NNP  might_MD  challenge_VB  the_DT  proposal_NN  by_IN  offering_VBG  a_DT  full_JJ  bid_NN  if_IN  holders_NNS  and_CC  the_DT  U.K._NNP  government_NN  agreed_VBD  to_TO  drop_VB  the_DT  anti-takeover_JJ  barrier_NN  early_JJ  ._. 
``_``  I_PRP  think_VBP  Ford_NNP  is_VBZ  going_VBG  to_TO  come_VB  out_IN  with_IN  full_JJ  guns_NNS  blazing_VBG  ,_,  ''_''  Mr._NNP  Reitman_NNP  says_VBZ  ._. 
``_``  Ford_NNP  wants_VBZ  -LCB-_(  Jaguar_NNP  -RCB-_)  very_RB  much_RB  ._.  ''_'' 
U.S._NNP  takeover-stock_JJ  speculators_NNS  ,_,  who_WP  may_MD  own_VB  between_IN  20_CD  %_NN  and_CC  30_CD  %_NN  of_IN  Jaguar_NNP  ,_,  could_MD  give_VB  Ford_NNP  enough_RB  votes_VBZ  to_TO  block_VB  the_DT  GM_NNP  deal_NN  ._. 
GM_NNP  might_MD  counterbid_NN  ._. 
Then_RB  ,_,  Mr_NNP  ._.  Will_MD  says_VBZ  ,_,  ``_``  you_PRP  get_VBP  a_DT  bidding_NN  war_NN  between_IN  two_CD  very_RB  rich_JJ  ,_,  very_RB  determined_VBN  international_JJ  companies_NNS  ._.  ''_'' 
He_PRP  believes_VBZ  Jaguar_NNP  's_POS  share_NN  price_NN  could_MD  zoom_VB  to_TO  between_IN  #_#  8_CD  and_CC  #_#  10_CD  -LRB-_(  $_$  12.60_CD  to_TO  $_$  15.80_CD  -RRB-_)  ._. 
``_``  There_EX  's_VBZ  quite_RB  a_DT  bit_NN  of_IN  value_NN  left_VBN  in_IN  the_DT  -LCB-_(  Jaguar_NNP  -RCB-_)  shares_NNS  here_RB  even_RB  though_IN  they_PRP  have_VBP  run_VBN  up_IN  ''_''  lately_RB  ,_,  says_VBZ  Doug_NNP  Johnson_NNP  ,_,  a_DT  fund_NN  manager_NN  for_IN  Seattle-based_JJ  Safeco_NNP  Asset_NNP  Management_NNP  ._. 
At_IN  the_DT  moment_NN  ,_,  he_PRP  intends_VBZ  to_TO  keep_VB  the_DT  firm_NN  's_POS  180,000_CD  Jaguar_NNP  shares_NNS  ._. 
The_DT  risk_NN  is_VBZ  that_IN  Jaguar_NNP  's_POS  share_NN  price_NN  could_MD  slump_VB  if_IN  GM_NNP  's_POS  agreement_NN  with_IN  Jaguar_NNP  effectively_RB  locks_VBZ  out_IN  its_PRP$  U.S._NNP  rival_JJ  ._. 
``_``  Ford_NNP  's_POS  appetite_NN  to_TO  attack_VB  -LCB-_(  Jaguar_NNP  -RCB-_)  could_MD  gradually_RB  wane_VB  over_IN  time_NN  ,_,  particularly_RB  if_IN  Saab_NNP  is_VBZ  a_DT  reasonably_RB  attractive_JJ  proposition_NN  ,_,  ''_''  says_VBZ  John_NNP  Lawson_NNP  ,_,  an_DT  auto_NN  analyst_NN  at_IN  London_NNP  's_POS  Nomura_NNP  Research_NNP  Institute_NNP  ._. 
He_PRP  thinks_VBZ  Saab-Scania_NNP  AB_NNP  on_IN  Friday_NNP  will_MD  announce_VB  the_DT  sale_NN  of_IN  50_CD  %_NN  of_IN  its_PRP$  car_NN  division_NN  to_TO  Ford_NNP  ;_:  the_DT  companies_NNS  have_VBP  been_VBN  discussing_VBG  closer_JJR  cooperation_NN  for_IN  months_NNS  ._. 
Clifford_NNP  Stahl_NNP  ,_,  president_NN  and_CC  chief_JJ  investment_NN  officer_NN  of_IN  C-S_NNP  Capital_NNP  Advisors_NNP  Inc._NNP  ,_,  two_CD  weeks_NNS  ago_RB  sold_VBN  his_PRP$  Cincinnati_NNP  firm_NN  's_POS  107,100_CD  Jaguar_NNP  ADRs_NNS  at_IN  about_IN  10_CD  each_DT  ,_,  making_VBG  a_DT  tidy_JJ  profit_NN  on_IN  a_DT  holding_VBG  purchased_VBN  at_IN  4_CD  7\/8_CD  in_IN  early_JJ  May_NNP  ._. 
``_``  I_PRP  thought_VBD  the_DT  probabilities_NNS  of_IN  -LCB-_(  a_DT  bidding_NN  war_NN  -RCB-_)  happening_VBG  were_VBD  less_JJR  ,_,  ''_''  he_PRP  says_VBZ  ._. 
Of_IN  course_NN  ,_,  that_WDT  was_VBD  before_IN  Ford_NNP  's_POS  latest_JJS  move_NN  ._. 
Jaguar_NNP  -LRB-_(  OTC_NNP  ;_:  Symbol_NN  :_:  JAGRY_NNP  -RRB-_) 
Business_NN  :_:  Luxury_NN  cars_NNS 
Year_NN  ended_VBN  Dec._NNP  31_CD  ,_,  1988_CD  :_: 
Revenue_NN  :_:  $_$  1.71_CD  billion_CD 
Net_JJ  income_NN  :_:  $_$  44.9_CD  million_CD  ;_:  or_CC  25_CD  cents_NNS  a_DT  share_NN 
First_JJ  half_NN  ended_VBD  ,_,  June_NNP  30_CD  ,_,  1989_CD  :_: 
Net_JJ  loss_NN  :_:  $_$  1.7_CD  million_CD  vs._IN  net_JJ  income_NN  :_:  $_$  21.2_CD  million_CD  ;_:  or_CC  12_CD  cents_NNS  a_DT  share_NN 
Averae_NNP  daily_JJ  trading_NN  volume_NN  :_:  Ordinary_JJ  shares_NNS  outstanding_JJ  :_:  182.9_CD  million_CD 
NOTE_NN  :_:  All_DT  figures_NNS  are_VBP  translated_VBN  into_IN  U.S._NNP  dollars_NNS  based_VBN  on_IN  current_JJ  exchange_NN  rates_NNS  ._. 
A.F._NNP  Sloan_NNP  ,_,  60_CD  years_NNS  old_JJ  ,_,  announced_VBD  that_IN  he_PRP  will_MD  retire_VB  next_JJ  April_NNP  as_IN  chairman_NN  and_CC  chief_JJ  executive_JJ  officer_NN  of_IN  this_DT  snack_NN  food_NN  and_CC  bakery_NN  products_NNS  maker_NN  ._. 
No_DT  replacement_NN  was_VBD  immediately_RB  named_VBN  ._. 
Mr._NNP  Sloan_NNP  plans_VBZ  to_TO  remain_VB  on_IN  the_DT  board_NN  until_IN  his_PRP$  current_JJ  term_NN  expires_VBZ  in_IN  April_NNP  1991_CD  ,_,  a_DT  Lance_NNP  spokesman_NN  said_VBD  ._. 
Newport_NNP  Electronics_NNP  Inc._NNP  of_IN  Santa_NNP  Ana_NNP  ,_,  Calif._NNP  ,_,  said_VBD  Milton_NNP  B._NNP  Hollander_NNP  ,_,  who_WP  holds_VBZ  a_DT  49.4_CD  %_NN  stake_NN  ,_,  requested_VBD  a_DT  special_JJ  shareholders_NNS  '_POS  meeting_NN  next_JJ  Wednesday_NNP  to_TO  remove_VB  four_CD  current_JJ  directors_NNS  and_CC  elect_VB  an_DT  alternative_NN  slate_NN  ._. 
Mr._NNP  Hollander_NNP  's_POS  High_NNP  Technology_NNP  Holding_NNP  Co._NNP  of_IN  Stamford_NNP  ,_,  Conn._NNP  ,_,  acquired_VBN  most_RBS  of_IN  its_PRP$  stake_NN  last_JJ  August_NNP  in_IN  an_DT  $_$  11-a-share_JJ  tender_NN  offer_NN  for_IN  Newport_NNP  ,_,  a_DT  maker_NN  of_IN  electronic-measuring_JJ  devices_NNS  ._. 
Newport_NNP  said_VBD  Mr._NNP  Hollander_NNP  is_VBZ  asking_VBG  shareholders_NNS  to_TO  retain_VB  only_RB  one_CD  director_NN  ,_,  James_NNP  R._NNP  Lees_NNP  ,_,  a_DT  Newport_NNP  vice_NN  president_NN  ._. 
The_DT  board_NN  is_VBZ  n't_RB  proposing_VBG  a_DT  slate_NN  of_IN  its_PRP$  own_JJ  and_CC  the_DT  other_JJ  four_CD  current_JJ  directors_NNS  do_VBP  n't_RB  want_VB  to_TO  serve_VB  beyond_IN  the_DT  special_JJ  meeting_NN  date_NN  ,_,  Newport_NNP  said_VBD  ._. 
Mr._NNP  Hollander_NNP  ``_``  is_VBZ  the_DT  new_JJ  owner_NN  and_CC  wants_VBZ  to_TO  exercise_VB  control_NN  ,_,  ''_''  said_VBD  Barret_NNP  B._NNP  Weekes_NNP  ,_,  Newport_NNP  's_POS  chairman_NN  ._. 
Sandoz_NNP  AG_NNP  ,_,  a_DT  major_JJ  Swiss_JJ  chemical_NN  and_CC  pharmaceutical_JJ  group_NN  ,_,  said_VBD  that_IN  its_PRP$  group_NN  sales_NNS  rose_VBD  25_CD  %_NN  to_TO  9.482_CD  billion_CD  francs_NNS  -LRB-_(  $_$  5.80_CD  billion_CD  -RRB-_)  in_IN  the_DT  first_JJ  nine_CD  months_NNS  of_IN  this_DT  year_NN  ,_,  with_IN  strong_JJ  gains_NNS  in_IN  all_DT  divisions_NNS  ._. 
A_DT  year_NN  earlier_JJR  sales_NNS  totaled_VBD  7.567_CD  billion_CD  francs_NNS  ._. 
Positive_JJ  currency_NN  rates_NNS  and_CC  strong_JJ  sales_NNS  growth_NN  led_VBN  to_TO  a_DT  substantial_JJ  rise_NN  in_IN  consolidated_JJ  profit_NN  in_IN  the_DT  period_NN  ,_,  although_IN  the_DT  company_NN  did_VBD  n't_RB  provide_VB  figures_NNS  ,_,  as_IN  is_VBZ  customary_JJ  with_IN  Swiss_JJ  companies_NNS  ._. 
Sandoz_NNP  said_VBD  it_PRP  expects_VBZ  a_DT  ``_``  substantial_JJ  increase_NN  ''_''  in_IN  consolidated_JJ  profit_NN  for_IN  the_DT  full_JJ  year_NN  ,_,  barring_VBG  major_JJ  currency_NN  rate_NN  changes_NNS  ._. 
Amstrad_NNP  PLC_NNP  ,_,  a_DT  British_JJ  maker_NN  of_IN  computer_NN  hardware_NN  and_CC  communications_NNS  equipment_NN  ,_,  posted_VBD  a_DT  52_CD  %_NN  plunge_NN  in_IN  pretax_JJ  profit_NN  for_IN  the_DT  latest_JJS  year_NN  ._. 
The_DT  #_#  76.6_CD  million_CD  -LRB-_(  $_$  120.6_CD  million_CD  -RRB-_)  in_IN  pretax_JJ  profit_NN  for_IN  the_DT  12_CD  months_NNS  to_TO  June_NNP  30_CD  was_VBD  down_RB  from_IN  #_#  160_CD  million_CD  -LRB-_(  $_$  252_CD  million_CD  -RRB-_)  a_DT  year_NN  earlier_RBR  and_CC  below_IN  market_NN  expectations_NNS  of_IN  #_#  80_CD  million_CD  and_CC  #_#  90_CD  million_CD  ._. 
The_DT  slump_NN  in_IN  profit_NN  ,_,  which_WDT  came_VBD  despite_IN  steady_JJ  sales_NNS  ,_,  was_VBD  attributed_VBN  to_TO  increased_VB  costs_NNS  for_IN  parts_NNS  and_CC  problems_NNS  with_IN  model_NN  introductions_NNS  ._. 
Amstrad_NNP  's_POS  profit_NN  after_IN  taxes_NNS  fell_VBD  a_DT  similarly_RB  steep_JJ  51_CD  %_NN  ,_,  to_TO  #_#  51.1_CD  million_CD  from_IN  #_#  105_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
Sales_NNS  edged_VBD  up_IN  fractionally_RB  to_TO  #_#  626.3_CD  million_CD  from_IN  #_#  625.4_CD  million_CD  a_DT  year_NN  earlier_RBR  ._. 
Microsoft_NNP  Corp._NNP  's_POS  earnings_NNS  growth_NN  continued_VBD  to_TO  outstrip_VB  that_IN  of_IN  most_RBS  of_IN  its_PRP$  competitors_NNS  and_CC  customers_NNS  in_IN  the_DT  personal-computer_NN  industry_NN  ,_,  as_IN  it_PRP  reported_VBD  a_DT  36_CD  %_NN  jump_NN  in_IN  fiscal_JJ  first-quarter_JJ  earnings_NNS  on_IN  a_DT  33_CD  %_NN  revenue_NN  gain_NN  ._. 
The_DT  Redmond_NNP  ,_,  Wash._NNP  company_NN  ,_,  a_DT  bellwether_NN  provider_NN  of_IN  operating_VBG  systems_NNS  and_CC  software_NN  for_IN  personal-computer_NN  makers_NNS  and_CC  users_NNS  ,_,  reported_VBD  net_JJ  income_NN  for_IN  the_DT  quarter_NN  ended_VBN  Sept._NNP  30_CD  of_IN  $_$  49.6_CD  million_CD  ,_,  or_CC  87_CD  cents_NNS  a_DT  share_NN  ,_,  up_IN  from_IN  $_$  36.6_CD  million_CD  ,_,  or_CC  65_CD  cents_NNS  a_DT  share_NN  ,_,  in_IN  the_DT  year-ago_JJ  period_NN  ._. 
Revenue_NN  rose_VBD  to_TO  $_$  235.2_CD  million_CD  ,_,  from_IN  $_$  176.4_CD  million_CD  ._. 
Microsoft_NNP  previously_RB  indicated_VBD  it_PRP  would_MD  have_VB  a_DT  strong_JJ  quarter_NN  by_IN  forecasting_VBG  its_PRP$  revenue_NN  gain_NN  on_IN  Oct._NNP  4_CD  ,_,  causing_VBG  a_DT  $_$  6.50_CD  a_DT  share_NN  jump_NN  in_IN  its_PRP$  stock_NN  ._. 
But_CC  its_PRP$  stock_NN  jumped_VBD  again_RB  yesterday_NN  as_IN  it_PRP  disclosed_VBD  surprisingly_RB  strong_JJ  margins_NNS  on_IN  those_DT  sales_NNS  ._. 
Microsoft_NNP  's_POS  stock_NN  rose_VBD  $_$  2.875_CD  a_DT  share_NN  in_IN  national_JJ  over-the-counter_JJ  trading_NN  to_TO  $_$  78.625_CD  ._. 
The_DT  stock_NN  had_VBD  hit_VBN  a_DT  high_NN  of_IN  $_$  81_CD  a_DT  share_NN  early_JJ  last_JJ  week_NN  but_CC  collapsed_VBD  to_TO  $_$  73.50_CD  in_IN  the_DT  Friday_NNP  stock_NN  plunge_NN  ._. 
The_DT  company_NN  had_VBD  been_VBN  experiencing_VBG  softening_VBG  margins_NNS  because_IN  of_IN  increased_VBN  sales_NNS  of_IN  software_NN  applications_NNS  ,_,  which_WDT  have_VBP  lower_JJR  margins_NNS  than_IN  do_VBP  operating_VBG  systems_NNS  ._. 
But_CC  the_DT  company_NN  said_VBD  that_DT  trend_NN  was_VBD  offset_VBN  in_IN  the_DT  first_JJ  quarter_NN  by_IN  better_JJR  economies_NNS  of_IN  scale_NN  and_CC  efficiencies_NNS  in_IN  manufacturing_NN  ._. 
As_IN  a_DT  result_NN  ,_,  Microsoft_NNP  's_POS  cost_NN  of_IN  goods_NNS  ,_,  as_IN  a_DT  percentage_NN  of_IN  sales_NNS  ,_,  fell_VBD  17_CD  %_NN  from_IN  the_DT  year-ago_JJ  quarter_NN  and_CC  13_CD  %_NN  from_IN  the_DT  previous_JJ  period_NN  ._. 
The_DT  trend_NN  drove_VBD  up_IN  the_DT  aftertax_JJ  margin_NN  --_:  net_JJ  income_NN  as_IN  a_DT  percentage_NN  of_IN  revenues_NNS  --_:  to_TO  21.1_CD  %_NN  in_IN  the_DT  quarter_NN  ,_,  compared_VBN  with_IN  20.7_CD  %_NN  a_DT  year_NN  earlier_RBR  ._. 
Microsoft_NNP  officials_NNS  said_VBD  the_DT  strong_JJ  results_NNS  also_RB  reflected_VBD  continuing_VBG  high_JJ  demand_NN  for_IN  its_PRP$  software_NN  applications_NNS  and_CC  operating_VBG  systems_NNS  ._. 
While_IN  it_PRP  has_VBZ  predicted_VBN  that_IN  overall_JJ  growth_NN  in_IN  unit_NN  sales_NNS  of_IN  personal_JJ  computers_NNS  is_VBZ  slowing_VBG  to_TO  about_IN  a_DT  10_CD  %_NN  yearly_JJ  rate_NN  ,_,  its_PRP$  own_JJ  products_NNS  are_VBP  selling_VBG  at_IN  a_DT  much_JJ  faster_JJR  rate_NN  because_IN  many_JJ  are_VBP  geared_VBN  to_TO  the_DT  high-performance_JJ  end_NN  of_IN  the_DT  market_NN  ._. 
That_DT  segment_NN  continues_VBZ  to_TO  post_VB  strong_JJ  quarter-to-quarter_JJ  gains_NNS  ,_,  while_IN  the_DT  low-end_NN  ,_,  or_CC  commodity_NN  segment_NN  ,_,  of_IN  the_DT  industry_NN  is_VBZ  experiencing_VBG  sluggish_JJ  growth_NN  or_CC  even_RB  sales_VBZ  declines_NNS  ._. 
Compared_VBN  with_IN  its_PRP$  previous_JJ  quarter_NN  ,_,  the_DT  final_JJ  period_NN  of_IN  its_PRP$  1989_CD  fiscal_JJ  year_NN  ,_,  net_NN  rose_VBD  9_CD  %_NN  ,_,  and_CC  sales_NNS  rose_VBD  7_CD  %_NN  ._. 
Control_NNP  Data_NNP  Corp._NNP  ,_,  Minneapolis_NNP  ,_,  signed_VBD  a_DT  joint_JJ  development_NN  agreement_NN  with_IN  MIPS_NNP  Computer_NNP  Systems_NNP  Inc._NNP  to_TO  incorporate_VB  an_DT  emerging_VBG  computing_VBG  architecture_NN  in_IN  future_NN  machines_NNS  ._. 
MIPS_NNP  is_VBZ  a_DT  leader_NN  in_IN  what_WP  is_VBZ  known_VBN  as_IN  reduced-instruction_NN  set_VBN  computing_VBG  ,_,  or_CC  RISC_NNP  ,_,  a_DT  technology_NN  combining_VBG  microprocessors_NNS  and_CC  sophisticated_JJ  software_NN  ._. 
In_IN  joining_VBG  MIPS_NNP  ,_,  Control_NNP  Data_NNP  follows_VBZ  several_JJ  competitors_NNS  in_IN  embracing_VBG  RISC_NNP  as_IN  a_DT  new_JJ  design_NN  approach_NN  ._. 
Digital_NNP  Equipment_NNP  Corp._NNP  ,_,  Tandem_NNP  Computers_NNP  Inc._NNP  ,_,  NEC_NNP  Corp._NNP  and_CC  Group_NNP  Bull_NNP  ,_,  among_IN  others_NNS  ,_,  have_VBP  similar_JJ  arrangements_NNS  with_IN  MIPs_NNP  ,_,  based_VBN  in_IN  Sunnyvale_NNP  ,_,  Calif_NNP  ._. 
Control_NNP  Data_NNP  said_VBD  it_PRP  expects_VBZ  its_PRP$  first_JJ  RISC-based_JJ  mainframe_NN  machine_NN  to_TO  be_VB  introduced_VBN  next_JJ  year_NN  ._. 
The_DT  accord_NN  with_IN  MIPS_NNP  calls_VBZ  for_IN  Control_NNP  Data_NNP  to_TO  share_VB  its_PRP$  expertise_NN  in_IN  data_NNS  storage_NN  ,_,  the_DT  companies_NNS  said_VBD  ._. 
Control_NNP  Data_NNP  also_RB  said_VBD  it_PRP  is_VBZ  developing_VBG  what_WP  it_PRP  called_VBD  a_DT  ``_``  supermainframe_NN  ''_''  computer_NN  ,_,  the_DT  Cyber_NNP  2000_CD  ,_,  intended_VBN  for_IN  scientists_NNS  ,_,  engineers_NNS  and_CC  other_JJ  users_NNS  of_IN  generalpurpose_JJ  high-performance_JJ  computers_NNS  ._. 
UAL'S_NNP  STOCK_NN  SKIDDED_VBD  an_DT  additional_JJ  $_$  24.875_CD  ,_,  to_TO  $_$  198_CD  ,_,  as_IN  British_JJ  Airways_NNPS  indicated_VBD  it_PRP  may_MD  balk_VB  at_IN  any_DT  hastily_RB  revised_VBN  version_NN  of_IN  the_DT  aborted_JJ  $_$  6.79_CD  billion_CD  buy-out_NN  of_IN  United_NNP  Air_NNP  's_POS  parent_NN  ._. 
UAL_NNP  has_VBZ  fallen_VBN  $_$  87.25_CD  ,_,  or_CC  31_CD  %_NN  ,_,  in_IN  the_DT  three_CD  trading_NN  days_NNS  since_IN  disclosure_NN  of_IN  the_DT  buy-out_NN  's_POS  collapse_NN  jolted_VBD  the_DT  stock_NN  market_NN  ._. 
Meanwhile_RB  ,_,  investor_NN  Marvin_NNP  Davis_NNP  said_VBD  he_PRP  remains_VBZ  interested_JJ  in_IN  UAL_NNP  ,_,  but_CC  he_PRP  dropped_VBD  his_PRP$  earlier_RBR  $_$  300-a-share_JJ  back-up_NN  bid_NN  ._. 
Stock_NN  prices_NNS  fell_VBD  broadly_RB  in_IN  heavy_JJ  trading_NN  ,_,  dominated_VBN  by_IN  futures-related_JJ  program_NN  selling_VBG  and_CC  further_JJ  declines_NNS  by_IN  UAL_NNP  and_CC  other_JJ  airline_NN  stocks_NNS  ._. 
The_DT  Dow_NNP  Jones_NNP  industrials_NNS  closed_VBD  off_IN  18.65_CD  points_NNS  ,_,  at_IN  2638.73_CD  ,_,  after_IN  plunging_VBG  over_IN  60.25_CD  points_NNS  in_IN  the_DT  morning_NN  ._. 
Bond_NN  prices_NNS  ended_VBD  lower_JJR  after_IN  an_DT  early_JJ  rally_NN  ,_,  while_IN  the_DT  dollar_NN  was_VBD  mixed_VBN  ._. 
The_DT  U.S._NNP  trade_NN  deficit_NN  swelled_VBD  to_TO  $_$  10.77_CD  billion_CD  in_IN  August_NNP  ,_,  prompting_VBG  worries_NNS  that_IN  the_DT  nation_NN  's_POS  export_NN  drive_NN  had_VBD  stalled_VBN  ._. 
Exports_NNS  declined_VBD  for_IN  the_DT  second_JJ  month_NN  in_IN  a_DT  row_NN  ,_,  while_IN  imports_NNS  rose_VBD  to_TO  a_DT  record_NN  ._. 
An_DT  analyst_NN  called_VBD  it_PRP  one_CD  of_IN  the_DT  worst_JJS  trade_NN  reports_NNS  since_IN  the_DT  dollar_NN  bottomed_VBN  out_IN  in_IN 
Industrial_JJ  output_NN  fell_VBD  0.1_CD  %_NN  in_IN  September_NNP  ,_,  the_DT  latest_JJS  sign_NN  manufacturing_NN  is_VBZ  slowing_VBG  ._. 
An_DT  analyst_NN  cited_VBD  weaker_JJR  capital_NN  spending_NN  and_CC  exports_NNS  ._. 
Bankers_NNP  Trust_NNP  added_VBD  $_$  1.6_CD  billion_CD  to_TO  reserves_NNS  for_IN  Third_NNP  World_NNP  loans_NNS  ,_,  the_DT  latest_JJS  big_JJ  bank_NN  to_TO  take_VB  such_JJ  a_DT  step_NN  ._. 
It_PRP  expects_VBZ  a_DT  $_$  1.42_CD  billion_CD  quarterly_JJ  loss_NN  ._. 
Citicorp_NNP  posted_VBD  a_DT  9_CD  %_NN  drop_NN  in_IN  quarterly_JJ  profit_NN  ._. 
Manufacturers_NNP  Hanover_NNP  had_VBD  a_DT  loss_NN  due_JJ  to_TO  a_DT  big_JJ  reserve_NN  addition_NN  ._. 
Bank_NNP  of_IN  New_NNP  England_NNP  plans_VBZ  to_TO  sell_VB  some_DT  operations_NNS  and_CC  lay_VBD  off_IN  4_CD  %_NN  of_IN  its_PRP$  work_NN  force_NN  after_IN  a_DT  year_NN  of_IN  weak_JJ  earnings_NNS  and_CC  mounting_VBG  loan_NN  problems_NNS  ._. 
Eastern_NNP  Airlines_NNPS  '_POS  creditors_NNS  have_VBP  begun_VBN  exploring_VBG  alternative_NN  approaches_NNS  to_TO  a_DT  Chapter_NN  11_CD  reorganization_NN  because_IN  they_PRP  are_VBP  unhappy_JJ  with_IN  the_DT  carrier_NN  's_POS  latest_JJS  proposal_NN  ._. 
Tele-Communications_NNP  agreed_VBD  to_TO  buy_VB  half_NN  of_IN  Showtime_NNP  Networks_NNP  from_IN  Viacom_NNP  for_IN  $_$  225_CD  million_CD  ._. 
The_DT  move_NN  could_MD  pose_VB  a_DT  new_JJ  challenge_NN  to_TO  Time_NNP  Warner_NNP  's_POS  Home_NNP  Box_NNP  Office_NNP  ._. 
The_DT  CFTC_NNP  plans_VBZ  to_TO  curb_VB  dual_JJ  trading_NN  on_IN  commodities_NNS  markets_NNS  ,_,  in_IN  which_WDT  traders_NNS  buy_VBP  and_CC  sell_VB  both_DT  for_IN  their_PRP$  own_JJ  account_NN  and_CC  for_IN  clients_NNS  ._. 
The_DT  move_NN  is_VBZ  likely_JJ  to_TO  anger_NN  traders_NNS  ._. 
FDIC_NNP  Chairman_NNP  Seidman_NNP  said_VBD  that_IN  Lincoln_NNP  Savings_NNP  &_CC  Loan_NNP  of_IN  California_NNP  should_MD  have_VB  been_VBN  seized_VBN  in_IN  1986_CD  to_TO  contain_VB  losses_NNS  he_PRP  estimated_VBD  will_MD  cost_VB  taxpayers_NNS  as_RB  much_JJ  as_IN  $_$  2_CD  billion_CD  ._. 
A_DT  $_$  67_CD  billion_CD  spending_NN  bill_NN  was_VBD  approved_VBN  by_IN  House-Senate_NNP  conferees_NNS  that_WDT  includes_VBZ  major_JJ  provisions_NNS  affecting_VBG  the_DT  federal_JJ  mortgage_NN  market_NN  ._. 
Hooker_NNP  's_POS  U.S._NNP  unit_NN  is_VBZ  expected_VBN  to_TO  agree_VB  in_IN  principle_NN  this_DT  week_NN  to_TO  sell_VB  its_PRP$  Merksamer_NNP  Jewelers_NNPS  chain_NN  to_TO  management_NN  ,_,  according_VBG  to_TO  executives_NNS  ._. 
The_DT  deficit-reduction_NN  bill_NN  became_VBD  snagged_VBN  over_IN  efforts_NNS  to_TO  streamline_VB  the_DT  House_NNP  version_NN  of_IN  the_DT  legislation_NN  in_IN  advance_NN  of_IN  a_DT  House-Senate_NNP  conference_NN  ._. 
Integrated_NNP  Resources_NNPS  said_VBD  talks_NNS  have_VBP  ended_VBN  with_IN  another_DT  potential_JJ  buyer_NN  of_IN  its_PRP$  core_NN  businesses_NNS  ._. 
Three_CD  big_JJ  drug_NN  makers_NNS  posted_VBD  robust_JJ  third-quarter_JJ  earnings_NNS  ._. 
Merck_NNP  's_POS  profit_NN  climbed_VBD  25_CD  %_NN  ,_,  Warner-Lambert_NNP  's_POS  22_CD  %_NN  and_CC  Eli_NNP  Lilly_NNP  's_POS  24_CD  %_NN  ._. 
Markets_NNS  --_: 
Stocks_NNS  :_:  Volume_NN  224,070,000_CD  shares_NNS  ._. 
Dow_NNP  Jones_NNP  industrials_NNS  2638.73_CD  ,_,  off_IN  18.65_CD  ;_:  transportation_NN  1254.27_CD  ,_,  off_IN  49.96_CD  ;_:  utilities_NNS  214.54_CD  ,_,  off_IN  0.19_CD  ._. 
Bonds_NNS  :_:  Shearson_NNP  Lehman_NNP  Hutton_NNP  Treasury_NNP  index_NN  3377.43_CD  ,_,  off_IN 
Commodities_NNS  :_:  Dow_NNP  Jones_NNP  futures_NNS  index_NN  129.72_CD  ,_,  unchanged_JJ  ;_:  spot_NN  index_NN  129.97_CD  ,_,  off_IN  0.19_CD  ._. 
Dollar_NN  :_:  142.75_CD  yen_NN  ,_,  up_IN  0.95_CD  ;_:  1.8667_CD  marks_NNS  ,_,  off_IN  0.0018_CD  ._. 
Paul_NNP  Ely_NNP  ,_,  general_JJ  partner_NN  of_IN  Alpha_NNP  Partners_NNPS  ,_,  a_DT  venture-capital_JJ  firm_NN  based_VBN  in_IN  Menlo_NNP  Park_NNP  ,_,  Calif._NNP  ,_,  was_VBD  named_VBN  a_DT  director_NN  of_IN  this_DT  computer_NN  company_NN  ._. 
Mr._NNP  Ely_NNP  ,_,  57_CD  years_NNS  old_JJ  ,_,  temporarily_RB  increases_VBZ  the_DT  board_NN  to_TO  seven_CD  members_NNS  ._. 
However_RB  ,_,  director_NN  Thomas_NNP  O'Rourke_NNP  has_VBZ  said_VBD  he_PRP  wo_MD  n't_RB  seek_VB  re-election_NN  at_IN  the_DT  company_NN  's_POS  annual_JJ  meeting_NN  next_JJ  month_NN  ._. 
BroadBeach_NNP  Associates_NNP  Inc._NNP  ,_,  the_DT  Los_NNP  Angeles_NNP  investment_NN  partnership_NN  whose_WP$  $_$  62-a-share_JJ  bid_NN  for_IN  McGill_NNP  Manufacturing_NNP  Co._NNP  was_VBD  topped_VBN  recently_RB  by_IN  a_DT  competing_VBG  offer_NN  from_IN  a_DT  Swedish_JJ  concern_NN  ,_,  disclosed_VBN  that_IN  it_PRP  sold_VBD  its_PRP$  entire_JJ  7_CD  %_NN  McGill_NNP  stake_NN  ._. 
McGill_NNP  ,_,  a_DT  Valparaiso_NNP  ,_,  Ind._NNP  ,_,  ball-bearing_NN  manufacturer_NN  ,_,  had_VBD  rebuffed_VBN  BroadBeach_NNP  's_POS  proposal_NN  ._. 
It_PRP  has_VBZ  since_IN  asked_VBN  holders_NNS  not_RB  to_TO  immediately_RB  tender_VBP  their_PRP$  shares_NNS  under_IN  a_DT  recent_JJ  $_$  72-a-share_JJ  ,_,  or_CC  $_$  104_CD  million_CD  ,_,  bid_NN  from_IN  AB_NNP  SKF_NNP  of_IN  Sweden_NNP  ,_,  until_IN  McGill_NNP  directors_NNS  have_VBP  completed_VBN  their_PRP$  evaluation_NN  ._. 
In_IN  a_DT  Securities_NNP  and_CC  Exchange_NNP  Commission_NNP  filing_NN  ,_,  BroadBeach_NNP  said_VBD  it_PRP  sold_VBD  the_DT  101,000_CD  McGill_NNP  shares_NNS  for_IN  $_$  7.3_CD  million_CD  in_IN  a_DT  private_JJ  transaction_NN  on_IN  Oct._NNP  12_CD  ._. 
BroadBeach_NNP  did_VBD  n't_RB  identify_VB  the_DT  buyer_NN  of_IN  the_DT  shares_NNS  ,_,  but_CC  the_DT  date_NN  of_IN  the_DT  selloff_NN  followed_VBN  by_IN  one_CD  day_NN  the_DT  Swedish_JJ  concern_NN  's_POS  tender_NN  offer_NN  ,_,  and_CC  the_DT  indicated_VBN  price_NN  of_IN  the_DT  shares_NNS  sold_VBN  equals_VBZ  SKF_NNP  's_POS  $_$  72-a-share_JJ  tender_NN  offer_NN  price_NN  ._. 
A_DT  BroadBeach_NNP  spokeswoman_NN  said_VBD  the_DT  company_NN  sold_VBD  the_DT  stock_NN  in_IN  the_DT  open_JJ  market_NN  and_CC  thus_RB  could_MD  n't_RB  identify_VB  the_DT  buyer_NN  or_CC  buyers_NNS  ._. 
Luis_NNP  Nogales_NNP  ,_,  45_CD  years_NNS  old_JJ  ,_,  has_VBZ  been_VBN  elected_VBN  to_TO  the_DT  board_NN  of_IN  this_DT  brewer_NN  ._. 
Mr._NNP  Nogales_NNP  ,_,  former_JJ  president_NN  of_IN  United_NNP  Press_NNP  International_NNP  and_CC  the_DT  Univision_NNP  Spanish-language_JJ  network_NN  ,_,  most_RBS  recently_RB  co-founded_VBD  Nogales_NNP  Castro_NNP  Partners_NNPS  ,_,  a_DT  California-based_JJ  media_NNS  acquisition_NN  firm_NN  ._. 
Mr._NNP  Nogales_NNP  ,_,  the_DT  first_JJ  Hispanic_JJ  person_NN  to_TO  serve_VB  as_IN  a_DT  Coors_NNP  director_NN  ,_,  is_VBZ  an_DT  addition_NN  to_TO  the_DT  board_NN  ,_,  increasing_VBG  its_PRP$  membership_NN  to_TO  nine_CD  ._. 
Hachette_NNP  S.A._NNP  ,_,  a_DT  European_JJ  media_NNS  and_CC  publishing_NN  group_NN  ,_,  reported_VBD  a_DT  small_JJ  rise_NN  in_IN  its_PRP$  attributable_JJ  first-half_JJ  group_NN  profit_NN  ,_,  excluding_VBG  exceptional_JJ  items_NNS  ,_,  to_TO  133.8_CD  million_CD  francs_NNS  -LRB-_(  $_$  21.1_CD  million_CD  -RRB-_)  from_IN  130.1_CD  million_CD  francs_NNS  a_DT  year_NN  earlier_RBR  ._. 
The_DT  Paris-based_JJ  group_NN  said_VBD  its_PRP$  earlier_JJR  projection_NN  --_:  that_DT  group_NN  profit_NN  for_IN  all_DT  of_IN  1989_CD  would_MD  be_VB  close_RB  to_TO  the_DT  322.7_CD  million_CD  francs_NNS  posted_VBD  for_IN  1988_CD  --_:  remains_VBZ  valid_JJ  ._. 
Taking_VBG  into_IN  account_NN  nonrecurring_VBG  gains_NNS  and_CC  losses_NNS  ,_,  Hachette_NNP  's_POS  group_NN  net_JJ  income_NN  for_IN  the_DT  first_JJ  six_CD  months_NNS  of_IN  this_DT  year_NN  totaled_VBD  246.6_CD  million_CD  francs_NNS  ,_,  practically_RB  double_VB  the_DT  year-earlier_JJ  figure_NN  of_IN  124.5_CD  million_CD  francs_NNS  ._. 
Analysts_NNS  said_VBD  Hachette_NNP  's_POS  earnings_NNS  in_IN  the_DT  second_JJ  half_NN  might_MD  be_VB  boosted_VBN  by_IN  a_DT  capital_NN  gain_NN  from_IN  the_DT  sale_NN  of_IN  the_DT  Paris_NNP  headquarters_NN  of_IN  a_DT  newspaper-delivery_NN  company_NN  that_WDT  is_VBZ  49_CD  %_NN  owned_VBN  by_IN  Hachette_NNP  ._. 
Oncor_NNP  Inc._NNP  ,_,  Gaithersburg_NNP  ,_,  Md._NNP  ,_,  said_VBD  it_PRP  received_VBD  approval_NN  from_IN  the_DT  U.S._NNP  Food_NNP  and_CC  Drug_NNP  Administration_NNP  to_TO  market_VB  a_DT  genetic_JJ  test_NN  that_WDT  will_MD  assist_VB  in_IN  diagnosis_NN  and_CC  treatment_NN  of_IN  leukemia_NN  and_CC  lymph_NN  cancer_NN  ._. 
The_DT  B\/T_NNP  gene_NN  rearrangement_NN  test_NN  is_VBZ  more_RBR  accurate_JJ  than_IN  existing_VBG  tests_NNS  for_IN  diagnosing_VBG  the_DT  type_NN  of_IN  cancer_NN  ,_,  whether_IN  it_PRP  has_VBZ  spread_NN  or_CC  whether_IN  there_EX  is_VBZ  a_DT  recurrence_NN  following_VBG  treatment_NN  ,_,  said_VBD  Oncor_NNP  President_NNP  Stephen_NNP  Turner_NNP  ._. 
Mr._NNP  Turner_NNP  said_VBD  the_DT  test_NN  initially_RB  will_MD  be_VB  used_VBN  in_IN  conjunction_NN  with_IN  biopsies_NNS  and_CC  other_JJ  tests_NNS  ,_,  but_CC  eventually_RB  might_MD  become_VB  the_DT  benchmark_NN  for_IN  tumor_NN  analysis_NN  ._. 
Mr._NNP  Turner_NNP  said_VBD  the_DT  test_NN  will_MD  be_VB  shipped_VBN  in_IN  45_CD  days_NNS  to_TO  hospitals_NNS  and_CC  clinical_JJ  laboratories_NNS  ._. 
Dr._NNP  Wyndham_NNP  Wilson_NNP  ,_,  a_DT  cancer_NN  treatment_NN  specialist_NN  at_IN  the_DT  National_NNP  Cancer_NNP  Institute_NNP  ,_,  said_VBD  the_DT  test_NN  is_VBZ  widely_RB  used_VBN  in_IN  research_NN  centers_NNS  but_CC  is_VBZ  n't_RB  having_VBG  a_DT  major_JJ  impact_NN  because_IN  it_PRP  is_VBZ  only_RB  occasionally_RB  useful_JJ  in_IN  choosing_VBG  the_DT  most_RBS  effective_JJ  treatment_NN  ._. 
But_CC  the_DT  test_NN  may_MD  prove_VB  to_TO  be_VB  more_RBR  sensitive_JJ  in_IN  determining_VBG  whether_IN  a_DT  tumor_NN  has_VBZ  spread_NN  or_CC  returned_VBN  following_VBG  treatment_NN  ,_,  Dr._NNP  Wilson_NNP  said_VBD  ._. 
``_``  We_PRP  do_VBP  n't_RB  know_VB  yet_RB  how_WRB  useful_JJ  it_PRP  's_VBZ  going_VBG  to_TO  be_VB  ,_,  ''_''  he_PRP  said_VBD  ._. 
Oncor_NNP  ,_,  a_DT  six-year-old_JJ  developer_NN  of_IN  genetic_JJ  medical_JJ  tests_NNS  ,_,  projects_VBZ  that_IN  the_DT  cancer_NN  test_NN  will_MD  help_VB  it_PRP  to_TO  post_VB  its_PRP$  first-ever_JJ  profit_NN  during_IN  the_DT  first_JJ  quarter_NN  of_IN  1990_CD  ,_,  Mr._NNP  Turner_NNP  said_VBD  ._. 
The_DT  company_NN  will_MD  charge_VB  $_$  35_CD  for_IN  a_DT  test_NN  and_CC  projects_NNS  about_RB  $_$  2_CD  million_CD  in_IN  revenue_NN  from_IN  the_DT  test_NN  during_IN  the_DT  first_JJ  12_CD  months_NNS  of_IN  marketing_NN  ,_,  he_PRP  said_VBD  ._. 
Unilab_NNP  Corp._NNP  ,_,  Norcross_NNP  ,_,  Ga._NNP  ,_,  said_VBD  it_PRP  acquired_VBD  the_DT  clinical_JJ  laboratories_NNS  of_IN  closely_RB  held_VBN  Central_NNP  Diagnostic_NNP  Laboratory_NNP  Inc._NNP  in_IN  a_DT  cash_NN  and_CC  securities_NNS  transaction_NN  valued_VBN  at_IN  $_$  85_CD  million_CD  ._. 
Unilab_NNP  said_VBD  its_PRP$  wholly_RB  owned_VBN  MetWest_NNP  Inc._NNP  unit_NN  paid_VBN  $_$  25_CD  million_CD  in_IN  cash_NN  ,_,  provided_VBD  $_$  30_CD  million_CD  in_IN  notes_NNS  and_CC  $_$  30_CD  million_CD  in_IN  preferred_JJ  stock_NN  to_TO  acquire_VB  Central_NNP  's_POS  labs_NNS  in_IN  the_DT  Western_NNP  U.S._NNP  ._. 
Unilab_NNP  ,_,  which_WDT  provides_VBZ  clinical_JJ  laboratory_NN  services_NNS  ,_,  competed_VBD  with_IN  Central_NNP  ,_,  based_VBN  in_IN  Tarzana_NNP  ,_,  Calif._NNP  ,_,  in_IN  a_DT  number_NN  of_IN  areas_NNS  ._. 
Beyond_IN  removing_VBG  a_DT  competitor_NN  ,_,  the_DT  combination_NN  should_MD  provide_VB  ``_``  synergies_NNS  ,_,  ''_''  said_VBD  Fred_NNP  Harlow_NNP  ,_,  Unilab_NNP  's_POS  chief_JJ  financial_JJ  officer_NN  ._. 
It_PRP  also_RB  will_MD  hand_VB  Unilab_NNP  new_JJ  markets_NNS  ._. 
In_IN  Los_NNP  Angeles_NNP  ,_,  for_IN  example_NN  ,_,  Central_NNP  has_VBZ  had_VBN  a_DT  strong_JJ  market_NN  position_NN  while_IN  Unilab_NNP  's_POS  presence_NN  has_VBZ  been_VBN  less_RBR  prominent_JJ  ,_,  according_VBG  to_TO  Mr._NNP  Harlow_NNP  ._. 
