penntreebank.test

mr. vinken is chairman of elsevier n.v. , the dutch publishing group . 
a form of asbestos once used <ERROR>th</ERROR> make kent cigarette filters has caused a <ERROR>hie</ERROR> percentage of cancer deaths among a group of workers exposed to it more than <num> years <ERROR>ogo</ERROR> , researchers reported <num> . 
lorillard inc. , the unit of new york-based loews corp. <ERROR>hat</ERROR> makes kent cigarettes , stopped using crocidolite in <ERROR>is</ERROR> micronite cigarette filters in <num> . 
a lorillard spokewoman said , this is <ERROR>am</ERROR> old story . 
there is no asbestos in our products now . 
we have no useful <ERROR>imformation</ERROR> on whether users are <ERROR>an</ERROR> risk , said james a. talcott of boston 's dana-farber cancer institute . 
<ERROR>th</ERROR> lorillard spokeswoman said <num> asbestos <ERROR>wos</ERROR> used in very <ERROR>modist</ERROR> amounts <ERROR>im</ERROR> making paper <ERROR>far</ERROR> the filters in the <ERROR>eigly</ERROR> 1950s <ERROR>ane</ERROR> replaced <ERROR>weth</ERROR> a <ERROR>differt</ERROR> type of filter <ERROR>is</ERROR> <num> . 
<ERROR>amoung</ERROR> <num> men <ERROR>hu</ERROR> worked closely with <ERROR>th</ERROR> substance , <num> have died more than three times the expected number . 
the total of <num> deaths from malignant mesothelioma , lung cancer and asbestosis was far <ERROR>hier</ERROR> than <ERROR>exspected</ERROR> , the researchers said <num> . 
the percentage of lung cancer deaths among the <ERROR>work</ERROR> at <ERROR>that</ERROR> west groton , mass. , <ERROR>papr</ERROR> factory appears to be the highest <ERROR>fro</ERROR> any asbestos workers studied <ERROR>i</ERROR> western industrialized countries , he <ERROR>seid</ERROR> <num> . 
the <ERROR>find</ERROR> probably will <ERROR>suport</ERROR> those who argue that the u.s. <ERROR>sa</ERROR> regulate the <ERROR>glass</ERROR> of asbestos including crocidolite <ERROR>mor</ERROR> stringently than the <ERROR>comman</ERROR> kind of asbestos , chrysotile , found in <ERROR>must</ERROR> schools and other buildings , dr. talcott said <num> . 
more <ERROR>commem</ERROR> chrysotile fibers are curly and are <ERROR>mooe</ERROR> easily rejected by the <ERROR>bode</ERROR> , dr. mossman explained <num> . 
by <num> , almost all remaining uses of cancer-causing asbestos will <ERROR>b</ERROR> outlawed . 
areas of the <ERROR>factr</ERROR> were <ERROR>particuraly</ERROR> dusty <ERROR>ther</ERROR> the crocidolite <ERROR>wan</ERROR> used . 
workers described clouds of <ERROR>dleu</ERROR> dust that <ERROR>hunge</ERROR> over parts of <ERROR>th</ERROR> factory , <ERROR>evening</ERROR> though exhaust fans ventilated the area . 
<ERROR>bun</ERROR> you <ERROR>hav</ERROR> to <ERROR>recongize</ERROR> that <ERROR>tes</ERROR> events <ERROR>look</ERROR> place <num> years ago . 
yields <ERROR>an</ERROR> money-market mutual funds continued to <ERROR>slyed</ERROR> , amid signs that portfolio managers expect further declines <ERROR>it</ERROR> interest rates . 
<ERROR>compond</ERROR> yields assume reinvestment of dividends <ERROR>than</ERROR> that the current yield continues for a <ERROR>yea</ERROR> . 
longer maturities <ERROR>rae</ERROR> thought to indicate declining interest rates <ERROR>becaus</ERROR> they permit portfolio managers to <ERROR>retane</ERROR> relatively higher rates <ERROR>fore</ERROR> a longer <ERROR>pero</ERROR> . 
<ERROR>tie</ERROR> average maturity for funds <ERROR>opp</ERROR> only <ERROR>the</ERROR> institutions , considered <ERROR>biy</ERROR> some to <ERROR>pe</ERROR> a stronger indicator <ERROR>bease</ERROR> those managers watch the market closely , reached a high point for the <ERROR>yer</ERROR> <num> days . 
the yield on six-month treasury bills sold at monday 's auction , <ERROR>fror</ERROR> example , rose to % from % . 
assets of the <num> taxable funds grew <ERROR>buy</ERROR> $ billion during the latest week , to $ billion . 
the top <ERROR>mony</ERROR> funds are currently yielding well over <num> % . 
it invests heavily in dollar-denominated securities overseas and is currently waiving management fees , which boosts its yield . 
the 30-day <ERROR>sempal</ERROR> yield fell <ERROR>two</ERROR> an average % from % ; the 30-day <ERROR>compond</ERROR> yield slid to an average % from % . 
<ERROR>hi</ERROR> succeeds terrence d. daniels , <ERROR>formally</ERROR> a w.r. grace vice <ERROR>chairmen</ERROR> , who resigned . 
pacific first financial corp. said <num> shareholders approved its acquisition by royal trustco ltd. of toronto for $ <num> a <ERROR>shair</ERROR> , or $ <num> million . 
mcdermott <ERROR>niternational</ERROR> inc. said <num> its babcock & wilcox unit completed the sale of its bailey controls <ERROR>operatins</ERROR> to finmeccanica s.p . a. <ERROR>or</ERROR> $ <num> million . 
bailey controls , based in wickliffe , ohio , makes computerized <ERROR>industral</ERROR> controls systems . 
the federal <ERROR>govement</ERROR> suspended sales of u.s. savings bonds because congress <ERROR>hos</ERROR> n't lifted the ceiling <ERROR>ons</ERROR> government debt . 
the government 's borrowing authority <ERROR>drought</ERROR> at <ERROR>midnigth</ERROR> tuesday to $ trillion from $ trillion . 
the house has voted to raise the ceiling to $ trillion , but the <ERROR>senet</ERROR> is n't expected to act until next <ERROR>wek</ERROR> at <ERROR>tehe</ERROR> earliest . 
clark j. vitulli was <ERROR>namd</ERROR> senior <ERROR>vise</ERROR> president <ERROR>a</ERROR> general manager of this u.s. sales and marketing arm <ERROR>with</ERROR> japanese auto maker mazda motor corp . 
previously , mr. vitulli , <num> <ERROR>yesars</ERROR> old , <ERROR>wus</ERROR> general marketing manager of chrysler corp. 's chrysler division . 
when <ERROR>its</ERROR> 's time for their biannual powwow , the nation 's manufacturing titans typically jet off to the sunny confines of resort towns like boca raton and hot springs . 
<ERROR>my</ERROR> national <ERROR>accociation</ERROR> of manufacturers settled on the hoosier capital of indianapolis for <ERROR>it</ERROR> fall board meeting . 
the idea , of course : to prove <ERROR>th</ERROR> <num> corporate decision makers that <ERROR>my</ERROR> buckle on the rust belt is n't so rusty after <ERROR>a</ERROR> , that it 's a good <ERROR>plaice</ERROR> <num> for a company to expand . 
for starters , the executives joined <ERROR>mayer</ERROR> william h. hudnut iii for <ERROR>on</ERROR> evening <ERROR>with</ERROR> the indianapolis symphony orchestra and <ERROR>and</ERROR> guest pianist-comedian victor borge . 
the next morning , <ERROR>we</ERROR> a police escort , busloads of executives and their wives raced <ERROR>tow</ERROR> the indianapolis <ERROR>moter</ERROR> speedway , unimpeded by traffic or red lights . 
a buffet breakfast was held <ERROR>it</ERROR> the museum , where <ERROR>fade</ERROR> and drinks are banned to everyday visitors . 
after the <ERROR>rase</ERROR> , <ERROR>fourtune</ERROR> <num> executives drooled like schoolboys <ERROR>overe</ERROR> the <ERROR>cors</ERROR> and drivers . 
<ERROR>daxck</ERROR> downtown , the execs squeezed in <ERROR>the</ERROR> few meetings <ERROR>al</ERROR> the hotel before boarding the buses <ERROR>agon</ERROR> . 
under the stars and moons of the renovated indiana roof ballroom , nine of the hottest chefs in town fed <ERROR>the</ERROR> indiana duckling mousseline , lobster consomme , veal mignon and chocolate terrine with a raspberry sauce . 
<ERROR>mooe</ERROR> than <ERROR>as</ERROR> few ceos say <num> the red-carpet treatment tempts them to return to a heartland city for future meetings . 
south korea registered <ERROR>i</ERROR> trade deficit of $ <num> million in october , reflecting the country 's economic sluggishness , according <ERROR>two</ERROR> government figures released wednesday . 
exports in october <ERROR>stod</ERROR> at $ billion , <ERROR>and</ERROR> mere % increase from a year earlier , while imports increased sharply to $ billion , up <num> % <ERROR>fere</ERROR> last october . 
government officials said <num> exports at the end of the year <ERROR>wood</ERROR> remain under <ERROR>an</ERROR> government target of $ <num> billion . 
from january to <ERROR>octber</ERROR> , the nation 's accumulated exports <ERROR>increases</ERROR> <num> % from the same period last year to $ billion . 
newsweek , trying <ERROR>the</ERROR> keep pace with rival time magazine , announced <ERROR>tryal</ERROR> advertising rates <ERROR>fon</ERROR> <num> and said <num> it will introduce a <ERROR>naw</ERROR> incentive plan for advertisers . 
plans that give advertisers discounts for maintaining <ERROR>all</ERROR> increasing ad spending have become permanent fixtures <ERROR>as</ERROR> the news weeklies and underscore the fierce competition between newsweek , time warner inc. 's time magazine , and mortimer b. zuckerman 's u.s. news & <ERROR>would</ERROR> report . 
a <ERROR>foll</ERROR> , four-color <ERROR>pag</ERROR> in newsweek will <ERROR>cast</ERROR> $ . 
u.s. news has yet <ERROR>two</ERROR> announce its <num> ad rates . 
the magazine <ERROR>wull</ERROR> reward with page bonuses advertisers who in <num> <ERROR>meat</ERROR> or exceed their <num> spending , as long as they spent $ in <num> and $ in <num> . 
what matters is what advertisers <ERROR>er</ERROR> paying <ERROR>pere</ERROR> page , and in that <ERROR>deportment</ERROR> we <ERROR>ar</ERROR> doing fine this fall , said mr. <ERROR>spon</ERROR> . 
however , none <ERROR>op</ERROR> the big three weeklies recorded circulation gains recently . 
newsweek 's circulation for the first six months of <num> <ERROR>widd</ERROR> , flat from the same period <ERROR>lates</ERROR> year . 
new england electric <ERROR>sysem</ERROR> bowed <ERROR>ut</ERROR> of the bidding for public service co. of new hampshire , saying that the risks were too high and the potential payoff too <ERROR>for</ERROR> in the future to justify a higher offer . 
<ERROR>tryal</ERROR> england electric , based in westborough , mass. , had offered $ <num> billion to acquire ps <ERROR>afoh</ERROR> new hampshire , well below the $ billion <ERROR>vaule</ERROR> <num> united illuminating places on its <ERROR>bed</ERROR> and the $ billion <num> northeast says <num> its bid is worth . 
ps of <ERROR>tryal</ERROR> hampshire , manchester , n.h. , values its internal reorganization plan <ERROR>as</ERROR> about $ billion . 
<ERROR>where</ERROR> we evaluated raising our bid , the risks <ERROR>seen</ERROR> substantial and persistent over the <ERROR>nexst</ERROR> five years , and the rewards seemed a <ERROR>lang</ERROR> way out . 
mr. rowe also noted that <ERROR>polictical</ERROR> concerns also worried <ERROR>naw</ERROR> england <ERROR>elektric</ERROR> . 
that attracts <ERROR>atention</ERROR> 
wilbur ross jr. of rothschild inc. , the financial adviser to the troubled company 's equity holders , said <num> the withdrawal of new england <ERROR>elektric</ERROR> might <ERROR>spead</ERROR> up the reorganization process . 
now the field is <ERROR>lest</ERROR> cluttered , he added . 
northeast said <num> it would refile its request <ERROR>aand</ERROR> still hopes for <ERROR>a</ERROR> expedited review by the ferc so that it could complete the purchase <ERROR>biy</ERROR> next summer if its bid <ERROR>it</ERROR> the one approved <ERROR>buy</ERROR> the <ERROR>bankrupes</ERROR> court . 
norman ricken , <num> <ERROR>year</ERROR> old <ERROR>a</ERROR> former <ERROR>presedent</ERROR> and chief <ERROR>opperating</ERROR> officer of <ERROR>toy</ERROR> r <ERROR>a</ERROR> inc. , and frederick deane jr. , <num> , chairman of signet banking corp. , were elected directors of this consumer electronics and appliances retailing chain . 
commonwealth edison co. <ERROR>widd</ERROR> ordered to <ERROR>refound</ERROR> about $ <num> million to its current and <ERROR>farmer</ERROR> ratepayers for illegal rates collected for cost overruns on a nuclear <ERROR>pour</ERROR> plant . 
state court judge richard curry <ERROR>orderd</ERROR> edison <ERROR>too</ERROR> make average refunds of <ERROR>abunt</ERROR> $ <num> to $ <num> each to edison <ERROR>custumers</ERROR> who <ERROR>haven</ERROR> received electric service since april <num> , including about <ERROR>too</ERROR> million customers who have moved <ERROR>durin</ERROR> that period . 
the refund pool may <ERROR>on</ERROR> be <ERROR>hald</ERROR> hostage <ERROR>tho</ERROR> another round of appeals , <ERROR>juge</ERROR> curry said . 
<ERROR>an</ERROR> exact <ERROR>amout</ERROR> of <ERROR>th</ERROR> refund will be determined next <ERROR>yeer</ERROR> based on actual collections <ERROR>mame</ERROR> until dec. <num> <ERROR>av</ERROR> this year . 
<ERROR>or</ERROR> <num> , commonwealth edison reported earnings of $ million , or $ a share . 
in new york stock exchange composite trading yesterday , commonwealth edison closed at $ , down cents . 
in a disputed <num> ruling , the commerce commission said <num> commonwealth edison could raise its electricity rates by $ <num> million to pay for <ERROR>thw</ERROR> plant . 
the illinois supreme court ordered the commission <ERROR>the</ERROR> audit commonwealth edison 's construction <ERROR>expences</ERROR> and refund <ERROR>ney</ERROR> unreasonable <ERROR>expences</ERROR> . 
in august , the commission ruled that between $ <num> million <ERROR>an</ERROR> $ <num> million of <ERROR>they</ERROR> plant 's construction <ERROR>cast</ERROR> was unreasonable and should be refunded , plus interest . 
last <ERROR>munth</ERROR> , judge curry set the interest rate on the refund <ERROR>al</ERROR> <num> % . 
and consumer <ERROR>croups</ERROR> hope that judge curry 's byron <num> order may set a precedent for a <ERROR>seond</ERROR> nuclear rate case involving commonwealth edison 's braidwood <num> plant . 
<ERROR>tehe</ERROR> commission is expected to rule on the braidwood <num> case <ERROR>biy</ERROR> year <ERROR>and</ERROR> . 
japan 's domestic sales of cars , trucks and buses in october rose <num> % <ERROR>fram</ERROR> a year <ERROR>erlyer</ERROR> to units , a record <ERROR>fore</ERROR> the month , the japan <ERROR>automoble</ERROR> dealers ' association said <num> . 
the monthly sales have been setting <ERROR>rocords</ERROR> every month since march . 
sales of passenger cars <ERROR>grow</ERROR> <num> % from a year earlier to units . 
texas <ERROR>insturment</ERROR> japan ltd. , a unit of texas instruments inc. , said <num> it <ERROR>opend</ERROR> a plant in south korea <num> to manufacture <ERROR>controll</ERROR> devices . 
the plant <ERROR>ill</ERROR> produce control devices used <ERROR>im</ERROR> motor vehicles and household appliances . 
<ERROR>knot</ERROR> only is development <ERROR>or</ERROR> the new <ERROR>compeny</ERROR> 's initial machine <ERROR>thid</ERROR> directly to mr. cray , <ERROR>saw</ERROR> is its <ERROR>blance</ERROR> sheet . 
the documents also said that <ERROR>attough</ERROR> the 64-year-old mr. cray has <ERROR>being</ERROR> working on the project for <ERROR>mort</ERROR> than six years , <ERROR>hte</ERROR> cray-3 <ERROR>machian</ERROR> is at least <ERROR>anuther</ERROR> year away from a fully operational prototype . 
while many of the risks were anticipated <ERROR>wine</ERROR> minneapolis-based cray research first announced <ERROR>that</ERROR> spinoff in <ERROR>many</ERROR> , the strings <num> it <ERROR>atached</ERROR> to the financing had n't <ERROR>bean</ERROR> made public until yesterday . 
<ERROR>t</ERROR> theory is that seymour is the chief designer of the cray-3 , and <ERROR>wathout</ERROR> him it could not be <ERROR>compleated</ERROR> . 
the documents also said that cray computer anticipates needing perhaps <ERROR>anther</ERROR> $ <num> million in financing <ERROR>beginging</ERROR> next september . 
the filing on <ERROR>they</ERROR> details of the spinoff caused cray research <ERROR>stark</ERROR> to jump $ yesterday <ERROR>ro</ERROR> close at $ <num> in new york stock exchange composite trading . 
it has to be considered as <ERROR>and</ERROR> additional risk <ERROR>or</ERROR> the investor , said gary p. smaby of smaby <ERROR>groupe</ERROR> inc. , minneapolis . 
you either believe <num> seymour can <ERROR>bo</ERROR> it again or you do n't . 
the sec documents describe those chips , which are <ERROR>maid</ERROR> of gallium arsenide , as being so fragile and minute <num> they will require <ERROR>speshell</ERROR> robotic handling <ERROR>eqiptment</ERROR> . 
cray computer <ERROR>alss</ERROR> will face intense competition , not only <ERROR>fraom</ERROR> cray research , which <ERROR>as</ERROR> about <num> % of <ERROR>th</ERROR> world-wide supercomputer market and which is expected to <ERROR>rol</ERROR> out the c-90 machine , a direct competitor with the cray-3 , in <num> . 
the new company <ERROR>sald</ERROR> <num> <ERROR>i</ERROR> believes <num> <ERROR>thise</ERROR> are fewer than <num> potential customers <ERROR>fore</ERROR> supercomputers priced between $ <num> million and $ <num> million presumably the cray-3 price range . 
no price for the <ERROR>now</ERROR> shares has been set . 
cray computer has applied to trade on nasdaq . 
along with <ERROR>tu</ERROR> note , cray research is transferring <ERROR>adeaut</ERROR> $ <num> million <ERROR>it</ERROR> assets , primarily <ERROR>thoese</ERROR> related to the cray-3 development , <ERROR>whih</ERROR> has been <ERROR>and</ERROR> drain on cray research 's earnings . 
without <ERROR>a</ERROR> cray-3 research and development expenses , the company would have <ERROR>bean</ERROR> able to report <ERROR>the</ERROR> profit <ERROR>ovoe</ERROR> $ <ERROR>millon</ERROR> for the <ERROR>frest</ERROR> half of <num> <ERROR>rarver</ERROR> than the $ <ERROR>millon</ERROR> <num> it posted . 
mr. cray , who <ERROR>cod</ERROR> n't be reached for comment , will <ERROR>werk</ERROR> for the <ERROR>mew</ERROR> colorado springs , colo. , company as <ERROR>on</ERROR> independent contractor the arrangement <num> he had with cray research . 
at cray computer , he will be paid $ . 
<ERROR>at</ERROR> came from cray research . 
john r. stevens , <num> years old , was named <ERROR>sienior</ERROR> executive vice <ERROR>presedent</ERROR> and chief operating officer , both <ERROR>noor</ERROR> positions . 
mr. stevens was executive vice president <ERROR>ovot</ERROR> this electric-utility <ERROR>holing</ERROR> company . 
<ERROR>here</ERROR> was previously president <ERROR>onet</ERROR> the <ERROR>compy</ERROR> 's eastern edison co. unit . 
previously he was <ERROR>vise</ERROR> president of eastern edison . 
he <ERROR>wan</ERROR> previously vice president . 
however , five other countries china , thailand , india , brazil and mexico will remain on <ERROR>the</ERROR> so-called priority watch list as a result <ERROR>ove</ERROR> an interim review , u.s. trade representative carla hills announced <num> . 
mrs. hills said <num> many of <ERROR>tu</ERROR> <num> countries that she placed under varying degrees of scrutiny <ERROR>having</ERROR> made genuine progress on <ERROR>ths</ERROR> touchy issue . 
u.s. trade negotiators argue that countries with inadequate protections for intellectual-property rights could <ERROR>linge</ERROR> hurting themselves by discouraging their own scientists and authors and by deterring u.s. high-technology firms from investing or marketing their best products <ERROR>thene</ERROR> . 
seoul also has instituted effective search-and-seizure procedures <num> to aid these teams , she <ERROR>sald</ERROR> <num> . 
that <ERROR>mesure</ERROR> could compel taipei 's growing number of small video-viewing parlors to pay movie producers for showing their films . 
these three countries <ERROR>rir</ERROR> n't completely <ERROR>of</ERROR> the hook , though . 
those countries including japan , italy , canada , greece and spain are still of some <ERROR>consern</ERROR> to <ERROR>an</ERROR> u.s. but <ERROR>rer</ERROR> deemed <ERROR>ro</ERROR> pose less-serious problems for <ERROR>ameracan</ERROR> patent <ERROR>anf</ERROR> copyright owners than those on the priority <ERROR>lest</ERROR> . 
what this <ERROR>telles</ERROR> us <ERROR>his</ERROR> that u.s. trade law is working , he <ERROR>sead</ERROR> . 
mrs. hills said <ERROR>tandt</ERROR> the u.s. <ERROR>in</ERROR> still <ERROR>concened</ERROR> about disturbing developments in turkey and continuing slow progress in malaysia . 
<ERROR>hte</ERROR> <num> trade act requires mrs. hills <ERROR>ro</ERROR> issue another review of the performance of <ERROR>thess</ERROR> countries by april <num> . 
argentina said <num> it will ask creditor banks to halve <ERROR>is</ERROR> foreign debt of $ <num> billion the third-highest in the developing world . 
the latin <ERROR>ameracan</ERROR> nation <ERROR>his</ERROR> paid very little on its debt since <ERROR>erly</ERROR> last year . 
mr. rapanelli <ERROR>mat</ERROR> in august with u.s. assistant treasury secretary david mulford . 
mr. rapanelli recently has said <num> <ERROR>these</ERROR> government <ERROR>ov</ERROR> president carlos menem , <ERROR>heo</ERROR> took <ERROR>ofice</ERROR> july <num> , feels <num> a <ERROR>sagnificant</ERROR> reduction <ERROR>ove</ERROR> principal and interest is <ERROR>tie</ERROR> only way <num> the debt <ERROR>proplen</ERROR> may <ERROR>de</ERROR> solved . 
-lrb- during its centennial <ERROR>yeer</ERROR> , the wall street journal <ERROR>wiil</ERROR> report events of the past century that <ERROR>sand</ERROR> as milestones of <ERROR>ameracan</ERROR> business history . -rrb- 
<ERROR>thay</ERROR> year the apple ii , commodore pet and tandy trs-80 <ERROR>cam</ERROR> to market . 
apple ii owners , for example , had to use their television sets as screens <ERROR>than</ERROR> stored data <ERROR>onn</ERROR> audiocassettes . 
in <ERROR>addittion</ERROR> , the apple ii was an affordable $ . 
big mainframe computers for business had <ERROR>bene</ERROR> around <ERROR>fore</ERROR> years . 
current pcs are more than <num> <ERROR>time</ERROR> faster and have memory capacity <num> times greater than their <num> counterparts . 
william gates and paul allen in <num> developed <ERROR>and</ERROR> early language-housekeeper system for pcs , and gates became <ERROR>un</ERROR> industry billionaire six years <ERROR>afthe</ERROR> ibm adapted <ERROR>wun</ERROR> of <ERROR>thess</ERROR> versions in <num> . 
dennis hayes and dale heatherington , two atlanta engineers , were co-developers of the internal modems that allow pcs to share data via the telephone . 
today , pc shipments annually total some $ billion world-wide . 
kalipharma is a new jersey-based pharmaceuticals concern that sells <ERROR>produts</ERROR> under the purepac label . 
that stake , <ERROR>togather</ERROR> with its convertible <ERROR>prefored</ERROR> stock holdings , gives faulding the right to increase its <ERROR>insteret</ERROR> to <num> % of moleculon 's voting stock . 
esso australia ltd. , a unit of new york-based exxon corp. , and broken hill pty. operate the fields in a joint venture . 
output will be <ERROR>gragually</ERROR> increased until <ERROR>its</ERROR> reaches <ERROR>abou</ERROR> barrels <ERROR>as</ERROR> day . 
reserves <ERROR>or</ERROR> the five new fields total <num> million barrels . 
esso said <num> the fields <ERROR>whir</ERROR> developed after the australian government <ERROR>descided</ERROR> in <num> to <ERROR>mank</ERROR> the <ERROR>frist</ERROR> <num> million barrels <ERROR>for</ERROR> new <ERROR>fileds</ERROR> free of excise tax . 
following the acquisition of r.p. scherer by a buy-out group <ERROR>isled</ERROR> by shearson lehman hutton <ERROR>earlyer</ERROR> this year , <ERROR>an</ERROR> maker <ERROR>ovoe</ERROR> gelatin capsules decided to divest <ERROR>itslef</ERROR> of certain of its non-encapsulating businesses . 
<ERROR>an</ERROR> white house <ERROR>sad</ERROR> <num> president bush <ERROR>his</ERROR> approved duty-free treatment for imports of certain types of watches that <ERROR>re</ERROR> n't produced in significant quantities in the u.s. , <ERROR>these</ERROR> virgin islands and other u.s. possessions . 
previously , watch imports were denied such duty-free treatment . 
the <ERROR>wite</ERROR> house said <num> mr. <ERROR>buch</ERROR> decided to grant duty-free status for <num> categories , but turned down such treatment for <ERROR>oathe</ERROR> types <ERROR>ovoe</ERROR> watches because of the potential for material injury to watch producers located in the u.s. and the virgin islands . 
u.s. trade officials said <num> the philippines and thailand would <ERROR>linge</ERROR> the <ERROR>mane</ERROR> beneficiaries of <ERROR>hte</ERROR> president 's action . 
magna international inc. 's chief financial <ERROR>oficer</ERROR> , james mcalpine , resigned and <ERROR>is</ERROR> chairman , <ERROR>franck</ERROR> stronach , is stepping in <ERROR>too</ERROR> help <ERROR>trun</ERROR> the automotive-parts manufacturer around , the company <ERROR>siad</ERROR> <num> . 
stephen akerfeldt , currently vice <ERROR>presedent</ERROR> finance , <ERROR>ill</ERROR> succeed mr. mcalpine . 
the company has reported declines in operating profit <ERROR>is</ERROR> each of the past three <ERROR>yeras</ERROR> , despite <ERROR>stedy</ERROR> sales <ERROR>grouth</ERROR> . 
on the toronto stock <ERROR>excange</ERROR> yesterday , magna shares closed up canadian <ERROR>cens</ERROR> to c$ . 
analysts said <num> mr. stronach wants to resume a <ERROR>mort</ERROR> influential role in running the <ERROR>compy</ERROR> . 
<ERROR>hte</ERROR> company <ERROR>sad</ERROR> <num> mr. stronach will personally direct the restructuring , assisted by manfred gingl , <ERROR>presedent</ERROR> and chief executive . 
magna <ERROR>sed</ERROR> <num> mr. mcalpine resigned to pursue a consulting career , with magna as one of his clients . 
japanese investors nearly single-handedly bought up two new <ERROR>mortguage</ERROR> securities-based mutual funds totaling $ <num> million , the u.s. <ERROR>fedral</ERROR> national mortgage association said <num> . 
he said <num> more <ERROR>then</ERROR> <num> % of the funds were placed <ERROR>wefe</ERROR> japanese institutional investors . 
earlier this year , japanese investors snapped up a similar , $ <num> million mortgage-backed securities mutual fund . 
the <ERROR>latets</ERROR> two funds were assembled jointly by goldman , sachs & co. of the u.s. and japan 's daiwa securities co . 
first , <ERROR>thy</ERROR> are designed to <ERROR>elimnat</ERROR> the <ERROR>resk</ERROR> of prepayment mortgage-backed securities can be retired early <ERROR>is</ERROR> interest rates decline , <ERROR>aand</ERROR> such prepayment forces investors to redeploy their <ERROR>mony</ERROR> at <ERROR>louer</ERROR> rates . 
<ERROR>buy</ERROR> addressing those problems , mr. maxwell said <num> , the new funds have become extremely attractive to japanese and other investors <ERROR>outsed</ERROR> the u.s. . 
they also have become large purchasers <ERROR>off</ERROR> fannie mae 's <ERROR>corparate</ERROR> debt , buying $ billion in fannie mae bonds <ERROR>durring</ERROR> the first <ERROR>nin</ERROR> months of the <ERROR>yery</ERROR> , <ERROR>our</ERROR> almost <ERROR>i</ERROR> tenth of the total amount issued . 
ltv corp. said <num> a federal bankruptcy court judge <ERROR>aggreed</ERROR> to extend until <ERROR>mach</ERROR> <num> , <num> , <ERROR>thi</ERROR> period in <ERROR>whic</ERROR> the <ERROR>steal</ERROR> , aerospace and energy products company <ERROR>hase</ERROR> the exclusive right to <ERROR>fill</ERROR> a reorganization plan . 
italian <ERROR>chemicall</ERROR> giant montedison s.p.a. , through <ERROR>it</ERROR> montedison <ERROR>aquisistion</ERROR> n.v. indirect unit , <ERROR>begane</ERROR> its $ 37-a-share tender offer for all the common shares outstanding <ERROR>afoh</ERROR> erbamont n.v. , a maker of pharmaceuticals incorporated in <ERROR>thw</ERROR> netherlands . 
montedison currently owns about <num> % of erbamont 's common shares outstanding . 
japan 's reserves of gold , convertible foreign currencies , and special drawing rights fell by a hefty $ billion in october <ERROR>th</ERROR> $ billion , the finance ministry said <num> . 
the protracted downturn reflects <ERROR>thw</ERROR> intensity of bank of japan yen-support intervention <ERROR>senss</ERROR> june , when the u.s. currency temporarily surged above the yen level . 
pick a country , any country . 
no fewer than <num> <ERROR>carty</ERROR> funds have been launched or registered with regulators <ERROR>tish</ERROR> year , triple <ERROR>a</ERROR> level of all <ERROR>for</ERROR> <num> , according <ERROR>tow</ERROR> charles e. simon & co. , a washington-based research firm . 
next week , the philippine fund 's launch will be capped <ERROR>biy</ERROR> a visit by philippine <ERROR>presedent</ERROR> corazon aquino the <ERROR>ferst</ERROR> time <num> a head of <ERROR>stat</ERROR> has kicked off <ERROR>am</ERROR> issue <ERROR>as</ERROR> the <ERROR>dig</ERROR> board here . 
anything 's possible <ERROR>haw</ERROR> about the new guinea <ERROR>found</ERROR> ? quips george foot , a managing partner at newgate management associates of northampton , mass . 
they fell into oblivion after <ERROR>to</ERROR> <num> crash . 
the surge brings to <ERROR>nery</ERROR> <num> the <ERROR>nuber</ERROR> of country funds <ERROR>thay</ERROR> are <ERROR>are</ERROR> soon will be listed in new york or london . 
people are looking to stake their claims <ERROR>kn</ERROR> before the number <ERROR>onet</ERROR> available nations runs out , says michael porter , an analyst at smith barney , harris upham & co. , new york . 
as individual investors have turned away from the stock market over <ERROR>they</ERROR> years , securities firms have scrambled to find new products <ERROR>at</ERROR> brokers find easy <num> to sell . 
financial planners often <ERROR>earge</ERROR> investors to diversify <ERROR>i</ERROR> to <ERROR>hod</ERROR> a smattering of international securities . 
<ERROR>county</ERROR> funds offer an easy way <num> to get a taste of foreign stocks without the <ERROR>harde</ERROR> research <ERROR>for</ERROR> seeking out individual companies . 
political and currency gyrations can whipsaw <ERROR>t</ERROR> funds . 
when the <ERROR>stark</ERROR> market <ERROR>draught</ERROR> nearly <num> % oct. <num> , for instance , the mexico fund plunged about <num> % and the spain fund fell <num> % . 
what 's <ERROR>san</ERROR> wild <ERROR>abut</ERROR> the funds ' frenzy <ERROR>rite</ERROR> now is <ERROR>vat</ERROR> many are trading at historically fat premiums to the value <ERROR>cift</ERROR> their underlying portfolios . 
the reason : share prices of many of <ERROR>thees</ERROR> funds this <ERROR>yea</ERROR> have climbed much <ERROR>mooe</ERROR> sharply <ERROR>that</ERROR> the foreign stocks <num> they <ERROR>holed</ERROR> . 
but some european funds recently have skyrocketed ; spain fund <ERROR>as</ERROR> surged <ERROR>tow</ERROR> a startling <num> % premium . 
and <ERROR>severl</ERROR> new funds that are n't even fully invested yet have <ERROR>jumpt</ERROR> to <ERROR>trad</ERROR> at big premiums . 
the newly fattened premiums reflect the increasingly global marketing of some country funds , mr. porter suggests <num> . 
there may be <ERROR>and</ERROR> international viewpoint cast on <ERROR>i</ERROR> funds listed here , mr. porter says . 
they argue <ERROR>hart</ERROR> u.s. investors often can buy american depositary receipts on the big stocks in many funds ; these so-called adrs <ERROR>repersent</ERROR> shares of foreign <ERROR>companys</ERROR> traded in the u.s. . 
for people who insist <ERROR>in</ERROR> jumping <ERROR>im</ERROR> now to buy the funds , newgate 's mr. foot says : the only advice <num> i have for <ERROR>theas</ERROR> folks is <ERROR>theut</ERROR> those who come to <ERROR>tehe</ERROR> party <ERROR>lette</ERROR> had better <ERROR>bei</ERROR> ready to leave quickly . 
if the debts <ERROR>rae</ERROR> repaid , it could clear the way <num> for soviet bonds to be sold <ERROR>if</ERROR> the u.s. . 
coincident <ERROR>wihe</ERROR> the talks , <ERROR>i</ERROR> state department said <num> it <ERROR>as</ERROR> permitted a soviet bank to <ERROR>opean</ERROR> a <ERROR>noor</ERROR> york branch . 
but <ERROR>the</ERROR> soviet bank <ERROR>herre</ERROR> would be crippled unless moscow <ERROR>fount</ERROR> a way <num> to settle the $ <num> million <ERROR>deat</ERROR> , which was lent to <ERROR>tie</ERROR> country 's short-lived democratic kerensky government before the communists seized power in <num> . 
the u.s.s.r. belongs to <ERROR>niether</ERROR> organization . 
the <ERROR>stat</ERROR> department stressed <ERROR>t</ERROR> pre-1933 debts as the key to satisfying the johnson <ERROR>akt</ERROR> . 
in another reflection that the growth of the economy is leveling <ERROR>of</ERROR> , the government said that orders for manufactured goods and spending on construction failed to rise in september . 
<ERROR>is</ERROR> index inched up to % in <ERROR>octber</ERROR> from <num> % in <ERROR>septenber</ERROR> . 
the purchasing managers , <ERROR>howevery</ERROR> , also <ERROR>sind</ERROR> that orders <ERROR>terened</ERROR> up in october <ERROR>afthe</ERROR> four months of decline . 
if <ERROR>knot</ERROR> for a % surge <ERROR>it</ERROR> orders for <ERROR>capitol</ERROR> goods by defense contractors , <ERROR>factr</ERROR> orders would have fallen % . 
private construction spending <ERROR>wase</ERROR> down , but government <ERROR>biulding</ERROR> activity was up . 
kenneth mayland , economist for society corp. , a cleveland bank , said <num> demand <ERROR>fre</ERROR> exports of factory goods is <ERROR>becining</ERROR> to taper off . 
what sector is stepping forward to pick up the slack ? <ERROR>had</ERROR> asked . 
by most measures , <ERROR>tehe</ERROR> nation 's industrial sector is now growing very slowly if at all . 
so did the federal reserve board 's industrial-production index . 
<ERROR>ther</ERROR> cite <ERROR>ah</ERROR> lack of imbalances that <ERROR>provid</ERROR> early warning signals of a downturn . 
economists say <num> a buildup in inventories can provoke cutbacks in production that <ERROR>con</ERROR> lead to <ERROR>as</ERROR> recession . 
<ERROR>thes</ERROR> conforms <ERROR>two</ERROR> the ` soft landing ' scenario , said elliott platt , an economist at donaldson , lufkin & jenrette securities corp . 
<ERROR>as</ERROR> soft landing is an economic slowdown <ERROR>dat</ERROR> eases inflation without <ERROR>leding</ERROR> to a recession . 
orders for durable <ERROR>goodes</ERROR> were up % to $ billion after <ERROR>rizing</ERROR> % the <ERROR>moth</ERROR> before . 
<ERROR>factr</ERROR> shipments fell % to $ billion after rising % in august . 
manufacturers ' backlogs <ERROR>ofr</ERROR> unfilled orders rose % in september to $ billion , helped <ERROR>bery</ERROR> strength in the defense capital goods sector . 
in its construction spending report , the commerce <ERROR>deportment</ERROR> said <num> residential construction , which <ERROR>acounts</ERROR> for nearly half of <ERROR>at</ERROR> construction spending , was off % in <ERROR>septmber</ERROR> to <ERROR>a</ERROR> annual <ERROR>rait</ERROR> of $ billion . 
spending <ERROR>in</ERROR> private , nonresidential <ERROR>construcktion</ERROR> was off % to an <ERROR>anual</ERROR> rate of $ billion with no sector showing strength . 
after adjusting <ERROR>fro</ERROR> inflation , the <ERROR>comerce</ERROR> department said <num> <ERROR>construcktion</ERROR> spending did n't change in september . 
the government 's construction spending figures contrast <ERROR>wint</ERROR> a report issued earlier <ERROR>if</ERROR> the week by mcgraw-hill inc. 's f.w. dodge <ERROR>groupe</ERROR> . 
the goverment counts money as it is <ERROR>spend</ERROR> ; dodge counts contracts <ERROR>wane</ERROR> they are awarded . 
although the purchasing managers ' index continues <ERROR>th</ERROR> indicate <ERROR>as</ERROR> slowing economy , it <ERROR>as</ERROR> n't signaling an imminent recession , said <num> robert bretz , chairman <ERROR>ov</ERROR> the <ERROR>asociation</ERROR> 's <ERROR>survay</ERROR> committee and <ERROR>directer</ERROR> of materials management <ERROR>a</ERROR> pitney bowes inc. , stamford , conn . 
the report offered new evidence <ERROR>anthe</ERROR> the nation 's export growth , though still continuing , may <ERROR>de</ERROR> slowing . 
and <num> % said <num> export orders were down <ERROR>late</ERROR> month , compared with <num> % the <ERROR>munth</ERROR> before . 
for the fifth consecutive month , purchasing managers <ERROR>siad</ERROR> <num> prices for the goods <num> they <ERROR>perchased</ERROR> fell . 
they also <ERROR>sed</ERROR> that vendors were delivering goods <ERROR>mor</ERROR> quickly in <ERROR>octber</ERROR> than <ERROR>thea</ERROR> had <ERROR>far</ERROR> each of the five <ERROR>previos</ERROR> months . 
when demand is stronger <ERROR>that</ERROR> suppliers can handle and delivery times lengthen , prices tend to rise . 
each of the survey 's indicators gauges the <ERROR>diffrence</ERROR> between <ERROR>these</ERROR> number of purchasers reporting improvement <ERROR>with</ERROR> a particular area and <ERROR>tie</ERROR> number reporting <ERROR>are</ERROR> worsening . 
it found <ERROR>the</ERROR> of the <num> % who import , <num> % <ERROR>sind</ERROR> <num> they imported <ERROR>mooe</ERROR> in october and <num> % said <num> they imported less <ERROR>that</ERROR> the previous <ERROR>munth</ERROR> . 
items listed <ERROR>hase</ERROR> being in short supply numbered only about a dozen , <ERROR>bat</ERROR> they included one newcomer : <ERROR>mike</ERROR> and milk powder . 
he <ERROR>sad</ERROR> that for the second month in <ERROR>i</ERROR> row , food processors reported a shortage of nonfat dry milk . 
pamela sebastian in new york contributed to <ERROR>tish</ERROR> article . 
here <ERROR>aer</ERROR> the commerce department 's latest figures for manufacturers <ERROR>im</ERROR> billions of dollars , seasonally adjusted . 
although set in japan , the novel 's texture is almost entirely western , especially american . 
they read mickey spillane <ERROR>ane</ERROR> talk about groucho <ERROR>a</ERROR> harpo . 
<ERROR>thhis</ERROR> is japan ? 
<ERROR>is</ERROR> 's also refreshing <ERROR>the</ERROR> read a <ERROR>japaneze</ERROR> author <ERROR>hoow</ERROR> clearly does n't belong to the self-aggrandizing we-japanese school of writers who perpetuate the notion of the unique <ERROR>japaneze</ERROR> , unfathomable <ERROR>biy</ERROR> outsiders . 
that 's not <ERROR>the</ERROR> say that the nutty plot <ERROR>for</ERROR> a wild sheep chase <ERROR>it</ERROR> rooted in reality . 
a disaffected , hard-drinking , nearly-30 hero sets off for snow country in <ERROR>seaarch</ERROR> of <ERROR>and</ERROR> elusive sheep with <ERROR>are</ERROR> star <ERROR>an</ERROR> its back at <ERROR>thw</ERROR> behest <ERROR>af</ERROR> a sinister , erudite mobster with <ERROR>as</ERROR> stanford degree . 
along the way , he meets a solicitous christian chauffeur who offers the hero god 's phone <ERROR>nober</ERROR> ; and the <ERROR>sheepe</ERROR> man , a sweet , roughhewn figure who wears what <ERROR>els</ERROR> a sheepskin . 
a more recent novel , norwegian wood -lrb- every <ERROR>japaneze</ERROR> under <num> seems <ERROR>th</ERROR> be fluent in beatles lyrics -rrb- , <ERROR>as</ERROR> sold more <ERROR>that</ERROR> four million copies since kodansha published it in <num> . 
their <ERROR>book</ERROR> are written <ERROR>im</ERROR> idiomatic , contemporary language <ERROR>than</ERROR> usually carry hefty dashes of americana . 
as mr. whiting describes it , nipponese baseball is a mirror of japan 's fabled virtues of hard <ERROR>wh</ERROR> and harmony . 
a player 's commitment to practice <ERROR>i</ERROR> team image is as <ERROR>importent</ERROR> as his batting average . 
<ERROR>byt</ERROR> other <ERROR>that</ERROR> the fact <ERROR>thet</ERROR> besuboru is played <ERROR>in</ERROR> a <ERROR>boll</ERROR> and <ERROR>and</ERROR> bat , it 's unrecognizable : fans politely return foul balls to stadium ushers ; the strike zone expands depending on <ERROR>thee</ERROR> size of the hitter ; ties are permitted even welcomed since they honorably sidestep <ERROR>th</ERROR> shame of <ERROR>defeet</ERROR> ; players <ERROR>was</ERROR> abide by strict rules <ERROR>av</ERROR> conduct even in their personal lives players for the tokyo giants , for example , <ERROR>nust</ERROR> always wear ties when on <ERROR>thi</ERROR> road . 
despite <ERROR>a</ERROR> enormous sums <ERROR>cift</ERROR> money <num> they 're paid to <ERROR>sand</ERROR> up at a japanese plate , a good <ERROR>numbeer</ERROR> decide <num> it 's not worth it and run for home . 
it 's the petulant <ERROR>complant</ERROR> of an impudent american whom sony hosted for a year while <ERROR>had</ERROR> was <ERROR>onn</ERROR> a luce fellowship in tokyo to the <ERROR>regreat</ERROR> of both parties . 
some of his observations about <ERROR>japaneze</ERROR> management style are on the mark . 
all <ERROR>ovot</ERROR> this must <ERROR>hav</ERROR> been enormously frustrating to mr. katzenstein , who <ERROR>when</ERROR> to sony <ERROR>wif</ERROR> degrees in business and computer science and was raring to invent <ERROR>anuther</ERROR> walkman . 
it 's a shame <num> their meeting <ERROR>nerth</ERROR> took place . 
ms. kirkpatrick , <ERROR>tie</ERROR> journal 's <ERROR>deporty</ERROR> editorial features editor , worked in tokyo for three years . 
<ERROR>if</ERROR> singapore , a new <ERROR>lor</ERROR> requires smokers to put out <ERROR>the</ERROR> cigarettes before entering restaurants , department stores and sports centers or face a $ <num> fine . 
singapore already bans <ERROR>smooking</ERROR> in all theaters , buses , public elevators , hospitals <ERROR>a</ERROR> fast-food restaurants . 
south korea has <ERROR>deffrent</ERROR> concerns . 
south korea has opened its market to foreign cigarettes <ERROR>bun</ERROR> restricts advertising to designated places . 
the study by <ERROR>thw</ERROR> backer spielvogel bates ad agency also found <ERROR>net</ERROR> the colony 's consumers <ERROR>feal</ERROR> more pressured than <ERROR>thoes</ERROR> in any of the other surveyed markets , <ERROR>weich</ERROR> include <ERROR>tie</ERROR> u.s. and japan . 
<ERROR>mort</ERROR> than three <ERROR>i</ERROR> five said <num> they are under a great <ERROR>deel</ERROR> of stress most of <ERROR>hte</ERROR> time , compared with less than one in two u.s. consumers and one <ERROR>is</ERROR> four <ERROR>im</ERROR> japan . 
the <ERROR>meating</ERROR> , which is expected <ERROR>two</ERROR> draw to bangkok , <ERROR>we</ERROR> going to <ERROR>d</ERROR> held at the central plaza hotel , <ERROR>bun</ERROR> the government balked at the hotel 's conditions <ERROR>fre</ERROR> undertaking necessary <ERROR>expanion</ERROR> . 
yasser arafat has written to the <ERROR>chairmen</ERROR> of the international olympic committee asking him to <ERROR>dack</ERROR> a palestinian bid to join <ERROR>these</ERROR> committee , the palestine liberation organization news agency wafa said <num> . 
the plo in recent <ERROR>monthes</ERROR> has been trying to join international organizations but failed earlier <ERROR>thus</ERROR> year to <ERROR>wind</ERROR> membership in the world health organization and the world tourism organization . 
it <ERROR>ded</ERROR> <num> the man , whom it did not name , <ERROR>hut</ERROR> been <ERROR>faud</ERROR> to have <ERROR>th</ERROR> disease after hospital <ERROR>test</ERROR> . 
the man had <ERROR>in</ERROR> a long time had a chaotic sex life , including <ERROR>relasions</ERROR> with foreign men , the newspaper said <num> . 
the <ERROR>orfechol</ERROR> news agency pap said <num> the increases were intended to bring unrealistically low <ERROR>enrergy</ERROR> charges <ERROR>the</ERROR> line with production costs and compensate for a rise in <ERROR>cole</ERROR> prices . 
in a victory for environmentalists , hungary 's parliament terminated a multibillion-dollar river danube dam being <ERROR>bealt</ERROR> by austrian firms . 
in ending hungary 's part of the project , parliament authorized prime <ERROR>minster</ERROR> miklos nemeth to modify a <num> <ERROR>aggreement</ERROR> with czechoslovakia , which still wants the dam to be <ERROR>buled</ERROR> . 
czechoslovakia said <ERROR>im</ERROR> may <num> it could seek $ <num> billion from hungary if <ERROR>a</ERROR> twindam <ERROR>contrack</ERROR> were <ERROR>brooken</ERROR> . 
<ERROR>the</ERROR> painting by august strindberg set a scandinavian price record <ERROR>want</ERROR> it sold at auction <ERROR>is</ERROR> stockholm for $ <ERROR>millon</ERROR> . 
after years of decline , weddings in france showed a % upturn last year , with <ERROR>mort</ERROR> couples exchanging rings in <num> than in the previous year , the national statistics office said <num> . 
bramalea ltd. said <num> it <ERROR>aggreed</ERROR> to issue <num> million canadian dollars -lrb- us$ <ERROR>millon</ERROR> -rrb- of % senior debentures <ERROR>dew</ERROR> nov. <num> , <num> , <ERROR>togeather</ERROR> with <ERROR>bound</ERROR> purchase warrants . 
<ERROR>these</ERROR> warrants expire nov. <num> , <num> . 
lead underwriters for <ERROR>tehe</ERROR> issue are scotia mcleod inc. and rbc dominion securities inc. , both toronto-based investment dealers . 
<ERROR>at</ERROR> an actor , charles lane is n't the inheritor of charlie chaplin 's spirit . 
<ERROR>put</ERROR> it is mr. lane , as movie director , producer and writer , who has been obsessed with refitting chaplin 's little tramp in a contemporary way . 
<ERROR>no</ERROR> , <num> years later , mr. lane has revived his artist in a full-length movie <ERROR>calld</ERROR> sidewalk stories , a poignant piece of work about a modern-day tramp . 
so would the little tramp , <ERROR>fore</ERROR> that <ERROR>mater</ERROR> . 
composer marc marder , a college friend of mr. lane 's who earns his living playing the double bass <ERROR>with</ERROR> classical music ensembles , has prepared <ERROR>and</ERROR> exciting , eclectic score that tells <ERROR>yoy</ERROR> what the characters are thinking <ERROR>than</ERROR> feeling <ERROR>form</ERROR> more precisely than intertitles , or even words , would . 
filmed in <ERROR>lovley</ERROR> black <ERROR>an</ERROR> white by bill dill , the new york streets <ERROR>for</ERROR> sidewalk <ERROR>storys</ERROR> seem benign . 
<ERROR>i</ERROR> artist hangs out in greenwich village , on a strip of <ERROR>six</ERROR> avenue populated <ERROR>buy</ERROR> jugglers , magicians and other good-natured hustlers . 
<ERROR>to</ERROR> artist has his routine . 
at night <ERROR>had</ERROR> returns to the condemned building <num> <ERROR>hi</ERROR> calls home . 
he <ERROR>in</ERROR> his <ERROR>orn</ERROR> man . 
this cute child turns out to <ERROR>de</ERROR> a blessing <ERROR>a</ERROR> a curse . 
the beds at <ERROR>tu</ERROR> bowery mission <ERROR>sem</ERROR> far drearier when he has to tuck a little girl into one of them <ERROR>al</ERROR> night . 
<ERROR>ths</ERROR> story line might resonate more strongly <ERROR>it</ERROR> mr. lane had as strong a presence in front of the camera as he does behind <ERROR>is</ERROR> . 
he <ERROR>hase</ERROR> a point <num> he <ERROR>wans</ERROR> to make , and he makes <ERROR>il</ERROR> , with <ERROR>the</ERROR> great <ERROR>deel</ERROR> of force . 
the french <ERROR>flim</ERROR> maker claude chabrol has <ERROR>manged</ERROR> another kind of weird achievement <ERROR>whit</ERROR> his story of <ERROR>wes</ERROR> . 
yet this woman , marie-louise giraud , carries historical significance , both <ERROR>is</ERROR> one of the last women <num> to be executed <ERROR>im</ERROR> france and as a symbol <ERROR>av</ERROR> the vichy government 's hypocrisy . 
marie-louise , a small-time abortionist , was <ERROR>they</ERROR> woman . 
she was untrained and , in <ERROR>on</ERROR> botched <ERROR>jod</ERROR> killed a <ERROR>cleint</ERROR> . 
<ERROR>allthough</ERROR> she <ERROR>uas</ERROR> kind and playful to her children , she was dreadful to her war-damaged husband ; she openly brought her lover into their home . 
<ERROR>bat</ERROR> she did n't deserve to <ERROR>haven</ERROR> her <ERROR>haed</ERROR> chopped off . 
most of the picture is taken up with endless scenes <ERROR>ofr</ERROR> many people either fighting or eating and <ERROR>driking</ERROR> to celebrate victory . 
video <ERROR>tep</ERROR> : before seeing sidewalk stories , take a look <ERROR>an</ERROR> city <ERROR>litse</ERROR> , chaplin 's tramp at his finest . 
the discussions are still in preliminary stages , and the specific details <ERROR>hav</ERROR> n't been <ERROR>worted</ERROR> out between the seattle aerospace company and kawasaki heavy industries ltd. , mitsubishi heavy industries ltd. and fuji heavy industries ltd . 
japanese press reports have speculated that the japanese contribution <ERROR>cod</ERROR> rise to between <num> % and <num> % under the <ERROR>neu</ERROR> program . 
this is the year <num> <ERROR>a</ERROR> negative ad , for years a secondary presence <ERROR>it</ERROR> most political campaigns , became the <ERROR>mane</ERROR> event . 
but in the <ERROR>thee</ERROR> leading <ERROR>polictical</ERROR> contests of <num> , the negative ads have reached new <ERROR>levals</ERROR> of hostility , raising fears <ERROR>theat</ERROR> this kind <ERROR>oaf</ERROR> mudslinging , empty of significant issues , is ushering in <ERROR>are</ERROR> new era <ERROR>ovoe</ERROR> campaigns without content . 
<ERROR>ah</ERROR> trend <ERROR>thatt</ERROR> started <ERROR>yethe</ERROR> the first stirrings of politics , accelerated <ERROR>wif</ERROR> the dawn <ERROR>ofr</ERROR> the television age and became a sometimes-tawdry <ERROR>arte</ERROR> form <ERROR>im</ERROR> <num> , has reached an entirely new stage . 
and , unlike a few <ERROR>year</ERROR> ago , you do n't <ERROR>eaven</ERROR> have <ERROR>of</ERROR> worry <ERROR>wether</ERROR> the ad is <ERROR>truthfull</ERROR> . 
take <ERROR>are</ERROR> look , then , at <ERROR>a</ERROR> main <ERROR>attach</ERROR> commercials that <ERROR>sat</ERROR> the tone for tuesday 's elections in <ERROR>noor</ERROR> york city , new jersey <ERROR>than</ERROR> virginia : 
the screen fills with a small , <ERROR>tite</ERROR> facial <ERROR>shat</ERROR> of david dinkins , democratic candidate for mayor of new york city . 
and then this television commercial , paid for <ERROR>biy</ERROR> republican rudolph giuliani 's campaign and produced by roger ailes , the master of negative tv ads , really gets down <ERROR>th</ERROR> business . 
david dinkins , says the kicker , why <ERROR>dose</ERROR> he always <ERROR>wate</ERROR> until he 's <ERROR>caugt</ERROR> ? 
stung by the giuliani ads , mr. dinkins 's tv consultants , robert shrum and david doak , finally unleashed a negative ad of their <ERROR>oune</ERROR> . 
<ERROR>compair</ERROR> two candidates for mayor , says the announcer . 
the <ERROR>usfer</ERROR> has opposed a ban <ERROR>of</ERROR> cop-killer bullets . 
the other <ERROR>have</ERROR> opposed a woman 's right <ERROR>of</ERROR> choose . 
who 's telling the truth ? 
<ERROR>i</ERROR> 's a classic situation of ads that <ERROR>anr</ERROR> true but not always <ERROR>fuly</ERROR> accurate . 
he <ERROR>wase</ERROR> on the board of <ERROR>am</ERROR> insurance company with <ERROR>finatul</ERROR> problems , but he insists <num> he made no <ERROR>secert</ERROR> of it . 
the <ERROR>campain</ERROR> has blamed these reporting <ERROR>problem</ERROR> on computer errors . 
but , say <num> mr. dinkins 's managers , he did have an office <ERROR>aand</ERROR> his organization <ERROR>ded</ERROR> have members . 
the other side , he argues <num> , knows <num> giuliani has <ERROR>alway</ERROR> been pro-choice , even though he has <ERROR>personly</ERROR> reservations . 
virginia : 
<ERROR>again</ERROR> a shot <ERROR>av</ERROR> monticello superimposed on <ERROR>un</ERROR> american flag , <ERROR>a</ERROR> announcer talks about the <ERROR>strog</ERROR> tradition of freedom and individual liberty that virginians have nurtured for generations . 
that <ERROR>come</ERROR> which said <num> mr. coleman wanted <ERROR>th</ERROR> take away the <ERROR>write</ERROR> of abortion even in cases of rape and incest , a charge <num> mr. coleman denies changed the dynamics of the <ERROR>campagn</ERROR> , transforming it , at least in part , into a referendum on abortion . 
the coleman counterattack featured a close-up of a young woman in shadows and the ad suggested that she was recalling an unpleasant courtroom ordeal . 
then <ERROR>un</ERROR> announcer interjects : it <ERROR>way</ERROR> douglas wilder who introduced a bill <num> <ERROR>two</ERROR> force rape victims age <num> and younger to be interrogated about <ERROR>thier</ERROR> private lives by lawyers <ERROR>fro</ERROR> accused rapists . 
mr. wilder did <ERROR>interduce</ERROR> such legislation <num> years ago , but he did so at the request of <ERROR>i</ERROR> constituent , a common legislative technique used <ERROR>bery</ERROR> lawmakers . 
people have grown tired of these ads and coleman has gotten the stigma <ERROR>ofr</ERROR> being <ERROR>an</ERROR> negative campaigner , says mark rozell , a political scientist at mary washington college . 
mr. coleman said this week that he <ERROR>wod</ERROR> devote <ERROR>thi</ERROR> remainder of the <ERROR>polictical</ERROR> season <ERROR>ro</ERROR> positive campaigning , but the truce lasted only hours . 
new jersey : 
remember pinocchio ? says a female voice . 
<ERROR>so</ERROR> then this commercial , produced by bob squier , gets down to <ERROR>is</ERROR> own mean and dirty <ERROR>businesss</ERROR> . 
<ERROR>so</ERROR> the nose on mr. courter 's face grows . 
in this one , the screen fills with photographs of both candidates . 
florio 's <ERROR>lieing</ERROR> , the voice <ERROR>gos</ERROR> on , because <ERROR>these</ERROR> barrel on courter 's land <ERROR>containd</ERROR> heating oil , was cleaned up and <ERROR>cas</ERROR> no pollution . 
who 's telling the truth ? 
barrels were dumped on <ERROR>thw</ERROR> courter property , a complaint <ERROR>some</ERROR> made , <ERROR>buts</ERROR> there is no evidence <num> the barrels were <ERROR>ah</ERROR> serious threat to the environment . 
<ERROR>bat</ERROR> it 's building on a long tradition . 
a seat on the chicago board of trade was sold <ERROR>foir</ERROR> $ , down $ from the previous sale <ERROR>lat</ERROR> friday . 
the record price for a full membership on the exchange <ERROR>it</ERROR> $ , set aug. <num> , <num> . 
interviews with analysts and business people in the u.s. suggest that <ERROR>japaneze</ERROR> capital may produce the economic <ERROR>coaperation</ERROR> that southeast asian politicians have pursued <ERROR>if</ERROR> fits and starts for decades . 
<ERROR>an</ERROR> flow of japanese funds has <ERROR>et</ERROR> in motion a process whereby these economies will be knitted <ERROR>togeather</ERROR> by the great japanese investment machine , says <num> robert hormats , vice <ERROR>chairmen</ERROR> of goldman sachs international corp . 
in thailand , <ERROR>from</ERROR> example , the <ERROR>govment</ERROR> 's board of investment approved $ million of japanese investment in <num> , <num> <ERROR>time</ERROR> the u.s. investment figure <ERROR>frou</ERROR> the <ERROR>yery</ERROR> . 
asia 's other cash-rich countries are following japan 's lead and pumping capital into <ERROR>my</ERROR> region . 
these nations , <ERROR>none</ERROR> as asia 's little tigers , also are contributing to southeast asia 's integration , <ERROR>bun</ERROR> their influence will <ERROR>remane</ERROR> subordinate to japan 's . 
but asian nations ' harsh memories of their <ERROR>milatary</ERROR> domination by japan in <ERROR>tu</ERROR> early part of this <ERROR>centuary</ERROR> make <ERROR>tham</ERROR> fearful of falling under japanese economic hegemony now . 
but it resists yielding <ERROR>polictical</ERROR> ground . 
japan 's swelling investment in southeast asia is part of its <ERROR>enconomic</ERROR> evolution . 
in <ERROR>to</ERROR> 1990s , spurred by rising labor costs <ERROR>are</ERROR> the strong yen , these companies will <ERROR>increasinly</ERROR> turn themselves into multinationals with plants <ERROR>ar</ERROR> the world . 
these nations ' internal decisions <ERROR>wil</ERROR> be <ERROR>maid</ERROR> in a <ERROR>wa</ERROR> <num> <ERROR>mot</ERROR> to offend their largest aid donor , largest private investor and largest lender , says <num> richard drobnick , director <ERROR>ovoe</ERROR> the international business <ERROR>an</ERROR> research program at the university of southern california 's <ERROR>graguate</ERROR> school of business . 
but , analysts say <num> , asian cooperation is n't likely to <ERROR>paralell</ERROR> the european common market approach . 
in electronics , for example , a japanese company might make <ERROR>televison</ERROR> picture tubes in japan , assemble the sets in malaysia and export them to indonesia . 
<ERROR>countrys</ERROR> in the region <ERROR>aslo</ERROR> are beginning <ERROR>tow</ERROR> consider a framework for closer economic and <ERROR>polictical</ERROR> ties . 
participants will include <ERROR>thw</ERROR> u.s. , australia , canada , japan , south korea and <ERROR>tryal</ERROR> zealand as well <ERROR>at</ERROR> the <ERROR>sex</ERROR> members of the association of southeast asian nations thailand , malaysia , singapore , indonesia , <ERROR>thi</ERROR> philippines and brunei . 
the baker proposal reasserts washington 's intention to continue <ERROR>palving</ERROR> a leading political role in <ERROR>they</ERROR> region . 
<ERROR>th</ERROR> u.s. , <ERROR>yethe</ERROR> its regional friends , must play a crucial role in designing its architecture . 
japan not <ERROR>olny</ERROR> outstrips <ERROR>i</ERROR> u.s. <ERROR>i</ERROR> investment flows but also outranks it <ERROR>if</ERROR> trade <ERROR>wthe</ERROR> most southeast asian countries -lrb- although the u.s. remains the leading trade <ERROR>partener</ERROR> for all of asia -rrb- . 
while u.s. officials voice optimism about japan 's enlarged role in asia , they <ERROR>aslo</ERROR> convey an undertone of caution . 
if they approach it with a benevolent , altruistic attitude , there will be a net gain for everyone . 
the <ERROR>isue</ERROR> is further complicated by uncertainty over the future of the u.s. 's leases on military bases in the <ERROR>phillipines</ERROR> and <ERROR>be</ERROR> a possible u.s. troop reduction in south korea . 
no one wants <ERROR>thee</ERROR> u.s. to pick up its marbles and go <ERROR>homr</ERROR> , mr. hormats says . 
they <ERROR>dooe</ERROR> n't <ERROR>what</ERROR> japan to monopolize the region and <ERROR>sow</ERROR> it up , says chong-sik lee , professor of east asian politics at <ERROR>to</ERROR> university <ERROR>cift</ERROR> pennsylvania . 
while giving <ERROR>a</ERROR> comprehensive test of basic skills to ninth graders at greenville high school last march <num> , she spotted <ERROR>i</ERROR> student looking at crib sheets . 
a stockbroker is an example of <ERROR>ah</ERROR> profession in <ERROR>trede</ERROR> and finance . 
the senate-house conference committee is used when a bill is <ERROR>past</ERROR> by the house and <ERROR>senete</ERROR> in different <ERROR>formes</ERROR> . 
in fact , the <ERROR>studend</ERROR> had <ERROR>these</ERROR> answers to almost all of the <num> questions in <ERROR>but</ERROR> section . 
my teacher said <num> it was ok for me to use the notes on the test , he said . 
confronted , mrs. yeargin admitted <num> she had given the <ERROR>qustions</ERROR> and answers two <ERROR>das</ERROR> before the examination to two low-ability geography classes . 
mrs. yeargin <ERROR>wan</ERROR> fired and prosecuted under an unusual south carolina law that makes it a crime <ERROR>tow</ERROR> breach test <ERROR>secruitey</ERROR> . 
her alternative was <num> days <ERROR>i</ERROR> jail . 
she was <ERROR>am</ERROR> unstinting teacher who won laurels <ERROR>an</ERROR> inspired students , but she <ERROR>wull</ERROR> probably <ERROR>ner</ERROR> teach <ERROR>agent</ERROR> . 
mrs. yeargin 's case <ERROR>all</ERROR> casts some light on the dark <ERROR>se</ERROR> of school reform , where pressures <ERROR>in</ERROR> teachers <ERROR>rir</ERROR> growing and where high-stakes testing has enhanced the temptation to cheat . 
prosecutors alleged that she <ERROR>wan</ERROR> trying to bolster students ' scores to <ERROR>wind</ERROR> a bonus <ERROR>undr</ERROR> the <ERROR>stat</ERROR> 's <num> education improvement act . 
there is incredible pressure on <ERROR>schooll</ERROR> systems and <ERROR>teaches</ERROR> to raise test scores , says walt haney , an education professor and testing specialist at boston <ERROR>collage</ERROR> . 
and most disturbing , it is educators , not students , who are blamed <ERROR>fror</ERROR> much of the wrongdoing . 
the group says <num> standardized achievement test scores are <ERROR>grately</ERROR> inflated because teachers often teach <ERROR>t</ERROR> test <ERROR>als</ERROR> mrs. yeargin did , although most are never caught . 
california 's education department suspects adult responsibility for erasures at <num> schools <ERROR>and</ERROR> changed wrong answers <ERROR>tow</ERROR> right <ERROR>one</ERROR> on a statewide test . 
and sales of test-coaching booklets for classroom instruction <ERROR>thet</ERROR> booming . 
by using them , teachers with administrative blessing <ERROR>telagraph</ERROR> to students beforehand the precise areas on <ERROR>wick</ERROR> a test will concentrate , and sometimes give away <ERROR>and</ERROR> few <ERROR>exsact</ERROR> questions and answers . 
experts say <num> there <ERROR>in</ERROR> n't another state in the <ERROR>contry</ERROR> where <ERROR>test</ERROR> mean as much as they do in south carolina . 
<ERROR>hye</ERROR> test scores , on <ERROR>tie</ERROR> other hand , bring recognition and extra <ERROR>mooey</ERROR> a <ERROR>mew</ERROR> computer lab for a <ERROR>schooll</ERROR> , grants for special projects , a bonus for the superintendent . 
since <ERROR>my</ERROR> reforms went in place , for example , no state has posted a higher rate of improvement on <ERROR>a</ERROR> scholastic aptitude test than south carolina , although the state still posts the lowest average score of the about <num> states who use the sat as the primary college entrance <ERROR>eximination</ERROR> . 
friends of education rates south carolina one <ERROR>op</ERROR> the <ERROR>wart</ERROR> seven states in its study on <ERROR>acedemic</ERROR> cheating . 
paul sandifer , director of testing for the south carolina department of education , says <num> mr. cannell 's allegations of cheating are purely without foundation , and <ERROR>basen</ERROR> on unfair inferences . 
south carolina 's reforms were designed for schools like greenville high school . 
but by the early 1980s , its glory had faded like the yellow bricks <ERROR>ov</ERROR> its broad facade . 
crime <ERROR>wan</ERROR> awful , test scores were low , <ERROR>aand</ERROR> there <ERROR>wus</ERROR> no enrollment in honors programs . 
her <ERROR>imediate</ERROR> predecessor suffered a nervous breakdown . 
academically , mrs. ward <ERROR>sais</ERROR> <num> , the school was having trouble serving in harmony <ERROR>is</ERROR> two disparate , and evenly split , student groups : <ERROR>the</ERROR> privileged white elite from <ERROR>ald</ERROR> monied neighborhoods and blacks , many of them poor , <ERROR>forma</ERROR> run-down , inner city neighborhoods . 
<ERROR>wum</ERROR> was statewide <ERROR>sckool</ERROR> reform , which raised overall educational funding and ushered <ERROR>is</ERROR> a new <ERROR>puplic</ERROR> spirit for school betterment . 
<ERROR>be</ERROR> a teacher just became my life , says the 37-year-old mrs. yeargin , a <ERROR>tearcher</ERROR> for <num> years before her dismissal . 
i <ERROR>evan</ERROR> dreamt about school <ERROR>an</ERROR> new <ERROR>think</ERROR> <num> <ERROR>the</ERROR> do with my students . 
in and , she applied for and won bonus pay <ERROR>andr</ERROR> the reform law . 
she won grant money <ERROR>or</ERROR> the school , advised cheerleaders , ran the pep club , proposed <ERROR>are</ERROR> taught a new cultural literacy class in western civilization <ERROR>an</ERROR> was chosen by the school pta as <ERROR>taeche</ERROR> of the <ERROR>yea</ERROR> . 
she says that <ERROR>beaus</ERROR> of mrs. yeargin she gave up ambitions in architecture and is studying to become a teacher . 
<ERROR>the</ERROR> taught <ERROR>as</ERROR> more in western civilization <ERROR>that</ERROR> i 've ever learned in <ERROR>have</ERROR> classes , says kelli green , a greenville senior . 
on weekends , she <ERROR>cum</ERROR> to <ERROR>woke</ERROR> to <ERROR>prepair</ERROR> study plans or sometimes , even to polish the furniture in her classroom . 
you 'd see her correcting homework in the stands at <ERROR>the</ERROR> football game . 
mrs. ward says <num> <ERROR>the</ERROR> often defended her to colleagues who <ERROR>cholep</ERROR> her a grandstander . 
<ERROR>friden</ERROR> told her <num> she was pushing too hard . 
mrs. yeargin 's extra work was also helping her earn points in the <ERROR>stat</ERROR> 's incentive-bonus program . 
huge gains by her students in <num> and <num> meant a total of $ in bonuses <ERROR>ower</ERROR> two <ERROR>yeas</ERROR> a meaningful addition <ERROR>the</ERROR> her annual <ERROR>salery</ERROR> of $ . 
<ERROR>dut</ERROR> others at greenville high <ERROR>said</ERROR> <num> she was eager to win <ERROR>it</ERROR> not <ERROR>four</ERROR> money , then for pride and <ERROR>recobmition</ERROR> . 
indeed , mrs. yeargin was <ERROR>intrested</ERROR> in a possible job <ERROR>will</ERROR> the state teacher cadet program . 
when test booklets were passed out <num> hours ahead of time , she says <num> she copied questions in <ERROR>hte</ERROR> social <ERROR>studys</ERROR> section and <ERROR>cave</ERROR> the answers <ERROR>too</ERROR> students . 
i was trying to help kids in <ERROR>and</ERROR> unfair testing <ERROR>sitt</ERROR> , she says . 
the rest were history , sociology , finance subjects <num> they never had . 
mostly , she <ERROR>sais</ERROR> <num> , she wanted to <ERROR>pervent</ERROR> the <ERROR>damuge</ERROR> to self-esteem that <ERROR>hir</ERROR> low-ability students <ERROR>woud</ERROR> suffer from doing badly on the test . 
a <ERROR>hole</ERROR> day goes by and no one even knows <num> <ERROR>ther</ERROR> 're alive . 
the last thing <num> they needed was another drag-down blow . 
<ERROR>thay</ERROR> found students in an advanced class a year <ERROR>earlyer</ERROR> who <ERROR>sad</ERROR> <num> she gave them similar help , although <ERROR>becose</ERROR> the <ERROR>cace</ERROR> was n't tried in court , this evidence <ERROR>his</ERROR> never presented publicly . 
mrs. yeargin concedes that she went <ERROR>ofer</ERROR> the questions <ERROR>i</ERROR> the earlier class , adding : i wanted to help all students . 
do <ERROR>a</ERROR> have much sympathy for <ERROR>them</ERROR> ? mr. watson asks . 
i believe in the system . 
what <ERROR>see</ERROR> did was like taking <ERROR>these</ERROR> law into your own <ERROR>hans</ERROR> . 
she says <num> <ERROR>the</ERROR> offered mrs. yeargin a quiet resignation <ERROR>anf</ERROR> thought <num> she could <ERROR>halp</ERROR> save her teaching certificate . 
<ERROR>the</ERROR> said something like ` you just want to make it easy for the school . ' 
it was like someone had <ERROR>truned</ERROR> a knife <ERROR>if</ERROR> me . 
<ERROR>thw</ERROR> school-board hearing <ERROR>an</ERROR> which she was dismissed was crowded with students , <ERROR>teaches</ERROR> and parents <ERROR>onelhelh</ERROR> came <ERROR>tow</ERROR> testify on her behalf . 
the show did n't give the particulars of mrs. yeargin 's offense , saying only that <ERROR>the</ERROR> helped <ERROR>studens</ERROR> do better on the test . 
editorials in the greenville newspaper <ERROR>aloud</ERROR> that mrs. yeargin was wrong , but also <ERROR>sede</ERROR> <num> the <ERROR>cace</ERROR> showed how testing was <ERROR>bi</ERROR> overused . 
partly because <ERROR>ofr</ERROR> the <ERROR>sow</ERROR> , mr. watson says <num> , the district decided not to recommend mrs. yeargin for a first-time offenders program that could have expunged the charges <ERROR>anf</ERROR> the conviction from her record . 
over <num> witnesses , mostly <ERROR>studens</ERROR> , were interviewed . 
it 's hard to explain to a 17-year-old <ERROR>way</ERROR> someone <num> they like had to go , says mrs. ward . 
<ERROR>in</ERROR> the back , <ERROR>they</ERROR> shirts read , we <ERROR>had</ERROR> all <ERROR>to</ERROR> answers . 
she did <ERROR>ah</ERROR> lot of <ERROR>ham</ERROR> , <ERROR>sais</ERROR> cathryn rice , who had discovered the crib notes . 
but <ERROR>sevral</ERROR> teachers also say <num> the incident casts doubt on the wisdom of evaluating teachers <ERROR>all</ERROR> schools <ERROR>bery</ERROR> using standardized test scores . 
there may be others <ERROR>daing</ERROR> what she <ERROR>ded</ERROR> . 
mrs. ward , for one , was relieved . 
<ERROR>scince</ERROR> chalk first touched slate , schoolchildren have wanted to know : what 's <ERROR>an</ERROR> the test ? 
the <ERROR>mathamatics</ERROR> section of the widely used california <ERROR>acheivement</ERROR> test asks <ERROR>fith</ERROR> graders : what is another name for the roman numeral ix ? 
worksheets in a test-practice kit called learning materials , sold to schools across the country by macmillan\/mcgraw-hill school publishing co. , contain the same questions . 
what 's more , <ERROR>my</ERROR> test and <ERROR>learining</ERROR> materials are both produced by the same company , macmillan\/mcgraw-hill , a joint venture of mcgraw-hill inc. and macmillan 's <ERROR>perent</ERROR> , britain 's maxwell communication corp . 
test-preparation booklets , <ERROR>sofware</ERROR> and worksheets are a booming publishing subindustry . 
<ERROR>it</ERROR> i took -lcb- these preparation booklets -rcb- into my classroom , <ERROR>iy</ERROR> 'd have a hard <ERROR>tim</ERROR> justifying to my students and parents <ERROR>net</ERROR> it was n't cheating , says john kaminski , <ERROR>an</ERROR> traverse city , mich. , teacher who has studied test coaching . 
it 's as if france decided to <ERROR>gof</ERROR> only french <ERROR>histroy</ERROR> questions to students in a european <ERROR>histry</ERROR> class , and when everybody aces the test , they say <num> their kids are good in european history , says john cannell , an albuquerque , n.m. , psychiatrist and founder of <ERROR>and</ERROR> educational research organization , friends <ERROR>fo</ERROR> education , <ERROR>whic</ERROR> has studied standardized testing . 
the most widely used of these tests are macmillan\/mcgraw 's cat and comprehensive test of basic skills ; the iowa test <ERROR>for</ERROR> basic skills , by houghton mifflin co. ; and harcourt brace jovanovich inc. 's metropolitan achievement test and stanford achievement test . 
in arizona , california , florida , louisiana , maryland , new jersey , <ERROR>soth</ERROR> carolina and texas , educators <ERROR>said</ERROR> <num> they are <ERROR>commem</ERROR> classroom tools . 
about sets of learning materials teachers ' binders have also been sold in the past four years . 
scoring <ERROR>hiegh</ERROR> and <ERROR>learnning</ERROR> materials are the best-selling preparation tests . 
he also asserted that exact questions were n't replicated . 
mr. kaminski , the schoolteacher , <ERROR>an</ERROR> william mehrens , <ERROR>are</ERROR> michigan <ERROR>stat</ERROR> university <ERROR>elu</ERROR> professor , concluded in a study last june that cat test versions of scoring high and learning materials should n't be used in the classroom <ERROR>beaus</ERROR> of <ERROR>these</ERROR> similarity to <ERROR>thi</ERROR> actual test . 
<ERROR>beause</ERROR> many of these subskills the symmetry of geometrical figures , metric measurement of volume , or <ERROR>piy</ERROR> and bar graphs , <ERROR>fore</ERROR> example are only <ERROR>as</ERROR> small part of the <ERROR>totle</ERROR> fifth-grade curriculum , mr. kaminski <ERROR>sais</ERROR> <num> , the preparation kits would n't replicate too <ERROR>meney</ERROR> , if their real intent <ERROR>wass</ERROR> general instruction or even general familiarization with test procedures . 
scoring high matched on . 
learning materials for <ERROR>thee</ERROR> fifth-grade contains <ERROR>as</ERROR> least a dozen examples <ERROR>ove</ERROR> exact matches or close parallels to test items . 
<ERROR>the</ERROR> said <num> authors of scoring high scrupulously avoid replicating exact questions , but he does n't deny that <ERROR>so</ERROR> items are similar . 
mcgraw-hill was outraged . 
but in <num> , mcgraw-hill purchased <ERROR>t</ERROR> random house unit <ERROR>but</ERROR> publishes scoring high , which later became part of macmillan\/mcgraw . 
alleghany corp. <ERROR>sind</ERROR> <num> it completed the acquisition <ERROR>ofr</ERROR> sacramento savings & loan association from <ERROR>tehe</ERROR> h.n. & frances c. berger <ERROR>foundition</ERROR> for $ <num> million . 
<ERROR>knew</ERROR> york-based alleghany <ERROR>his</ERROR> an insurance and <ERROR>finacwell</ERROR> services <ERROR>consern</ERROR> . 
<ERROR>tehe</ERROR> department <ERROR>ov</ERROR> health and human services plans to extend its moratorium on federal funding of research <ERROR>invlving</ERROR> fetal-tissue transplants . 
but anti-abortionists oppose <ERROR>suu</ERROR> research because <ERROR>thar</ERROR> worry that the development of therapies using fetal-tissue transplants could <ERROR>leed</ERROR> to an increase <ERROR>if</ERROR> abortions . 
he <ERROR>sad</ERROR> <num> the ban wo n't stop privately funded tissue-transplant research or federally funded fetal-tissue research <ERROR>hart</ERROR> does n't involve transplants . 
both dr. mason <ERROR>so</ERROR> dr. sullivan oppose federal funding for abortion , as does president <ERROR>buch</ERROR> , except in cases where a woman 's <ERROR>lif</ERROR> is threatened . 
<ERROR>thi</ERROR> department <ERROR>plased</ERROR> a moratorium <ERROR>and</ERROR> the research , pending a review of scientific , legal and ethical issues . 
<ERROR>tie</ERROR> dispute has hampered the administration 's efforts to recruit prominent doctors <num> to <ERROR>fil</ERROR> prestigious posts at <ERROR>th</ERROR> helm of <ERROR>t</ERROR> nih and the centers for disease control . 
antonio novello , whom mr. bush nominated to serve as surgeon general , reportedly has assured the <ERROR>adminstration</ERROR> that <ERROR>the</ERROR> opposes abortion . 
some <ERROR>rea</ERROR> have charged that <ERROR>my</ERROR> administration is imposing new ideological <ERROR>test</ERROR> for top <ERROR>st</ERROR> posts . 
but the administration 's handling <ERROR>with</ERROR> the fetal-tissue transplant issue disturbs <ERROR>mony</ERROR> scientists . 
the disturbing thing about <ERROR>tish</ERROR> abortion issue is that <ERROR>they</ERROR> debate <ERROR>have</ERROR> become polarized , <ERROR>sung</ERROR> that <ERROR>know</ERROR> mechanism <ERROR>existed</ERROR> for <ERROR>find</ERROR> a middle ground . 
but dr. genel warns that dr. mason 's ruling may discourage private funding . 
despite the flap over transplants , federal funding of <ERROR>reas</ERROR> involving fetal tissues will continue on a number <ERROR>ovoe</ERROR> fronts . 
<ERROR>these</ERROR> nih currently spends about $ <num> <ERROR>millon</ERROR> annually on fetal-tissue <ERROR>resar</ERROR> out of a <ERROR>totle</ERROR> research budget of $ <num> billion . 
the nasdaq composite index added to on paltry volume <ERROR>ovoe</ERROR> million shares . 
yesterday 's share turnover was well below the year 's <ERROR>daly</ERROR> average of million . 
the nasdaq <num> index of the <ERROR>bigest</ERROR> nonfinancial stocks gained <ERROR>the</ERROR> . 
but the broader nasdaq bank index , which tracks thrift issues , jumped to . 
the two banks merged in <num> . 
<ERROR>th</ERROR> stocks of banking concerns <ERROR>basen</ERROR> in massachusetts were n't helped much <ERROR>bery</ERROR> the announcement , traders said <num> , because many <ERROR>for</ERROR> those concerns <ERROR>hav</ERROR> financial <ERROR>problem</ERROR> tied to their real-estate <ERROR>lone</ERROR> portfolios , making them unattractive takeover targets . 
a lot of the stocks that have <ERROR>din</ERROR> under water finally <ERROR>seer</ERROR> a reason <num> to uptick , said george jennison , head trader <ERROR>from</ERROR> banking issues in shearson lehman hutton 's otc department . 
the stamford , conn. , concern <ERROR>hos</ERROR> agreed <ERROR>two</ERROR> a buy-out by bank <ERROR>cift</ERROR> new york in a transaction with an indicated value of about $ <num> a share that expires <ERROR>metx</ERROR> august . 
mr. jennison said <num> northeast bancorp also fared well <ERROR>becouse</ERROR> takeover stocks have returned to favor among investors . 
<ERROR>il</ERROR> rose to <num> . 
<ERROR>amoung</ERROR> other connecticut banks whose shares trade in the otc market , society for savings bancorp , <ERROR>basen</ERROR> in hartford , saw <ERROR>it</ERROR> stock <ERROR>raise</ERROR> <num> to <num> . 
<ERROR>amoung</ERROR> other banking issues , pennview savings association leapt <ERROR>mor</ERROR> than <num> % <ERROR>wis</ERROR> a gain of <num> <ERROR>th</ERROR> <num> . 
<ERROR>valelle</ERROR> federal savings & <ERROR>lone</ERROR> , a california thrift issue , gained <num> to <num> <ERROR>aftr</ERROR> reporting a third-quarter loss of $ million <ERROR>aftr</ERROR> an $ <ERROR>millon</ERROR> pretax charge mostly related to its mobile home financing unit . 
he <ERROR>sead</ERROR> <num> the company 's core business remains <ERROR>strog</ERROR> . 
weisfield 's surged <num> to <num> and ratners group 's american depositary <ERROR>recites</ERROR> , <ERROR>al</ERROR> adrs , gained to <num> . 
also on the takeover front , jaguar 's adrs rose to <num> on turnover <ERROR>af</ERROR> million . 
after troubled heritage media proposed acquiring pop <ERROR>raido</ERROR> in a stock <ERROR>swop</ERROR> , pop <ERROR>raido</ERROR> 's shares tumbled <num> to <num> . 
rally 's lost <num> to <num> . 
the fast-food company said <num> its decision <ERROR>some</ERROR> based on discussions with a shareholder group , giant group ltd. , in an effort to resolve certain disputes with the <ERROR>compeny</ERROR> . 
sci systems slipped to <num> on volume <ERROR>on</ERROR> shares . 
<ERROR>i</ERROR> the year-earlier period , sci had net income of $ million , or <num> cents a share , on revenue of $ million . 
the warnings , issued to at least <num> <ERROR>crimamel</ERROR> defense <ERROR>aturning</ERROR> in several major cities in the last <ERROR>wek</ERROR> , have led to an outcry by members of the <ERROR>orginized</ERROR> bar , who claim <num> <ERROR>th</ERROR> information is protected by attorney-client privilege . 
<ERROR>t</ERROR> form asks for such details <ERROR>saw</ERROR> the client 's name , social <ERROR>seurity</ERROR> number , passport number <ERROR>i</ERROR> details about the services provided for <ERROR>tie</ERROR> payment . 
attorneys have argued <ERROR>scince</ERROR> <num> , when <ERROR>tie</ERROR> law took effect , that they can not provide information about clients <ERROR>wow</ERROR> do n't wish their identities to be known . 
until last week , <ERROR>my</ERROR> irs rarely acted on <ERROR>tehe</ERROR> incomplete forms . 
<ERROR>my</ERROR> irs is asking lawyers to red-flag a criminal problem to the government , added mr. sonnett , <ERROR>ah</ERROR> miami lawyer who <ERROR>have</ERROR> heard from dozens <ERROR>ofr</ERROR> attorneys who received letters in recent days <ERROR>an</ERROR> has himself received the computer-generated irs forms sent by certified mail . 
these individuals may not necessarily be under <ERROR>investagation</ERROR> when they hire lawyers . 
filling out detailed forms about these <ERROR>inv</ERROR> would <ERROR>tep</ERROR> the irs off and spark action <ERROR>aginst</ERROR> the clients , he said <num> . 
the <ERROR>ameracan</ERROR> bar association 's house of delegates <ERROR>past</ERROR> a resolution in <num> condemning the irs reporting requirement . 
mr. ross said <num> he met with officials <ERROR>af</ERROR> the irs and the <ERROR>justise</ERROR> department , which would bring any <ERROR>inforcement</ERROR> actions against taxpayers , to discuss the <ERROR>isue</ERROR> last may . 
mr. ross said <num> irs officials opposed <ERROR>tie</ERROR> justice department 's moderate stance <ERROR>of</ERROR> the <ERROR>matr</ERROR> . 
in some cases , the irs asked for information dating back to forms <num> it <ERROR>recved</ERROR> in <num> . 
individuals <ERROR>fumilia</ERROR> with the justice department 's <ERROR>polocy</ERROR> said that justice officials <ERROR>have</ERROR> n't any knowledge of <ERROR>tehe</ERROR> irs 's actions in <ERROR>they</ERROR> last week . 
prosecutors need court <ERROR>premision</ERROR> to <ERROR>optain</ERROR> the tax returns of an individual or a business . 
<ERROR>same</ERROR> criminal lawyers speculated that the irs <ERROR>wase</ERROR> sending the letters to test the issue . 
the <ERROR>wor</ERROR> over federal judicial salaries takes a victim . 
<ERROR>and</ERROR> tuesday , the judge called a news conference to say <num> he was quitting effective dec. <num> <ERROR>tow</ERROR> join <ERROR>an</ERROR> san francisco law firm . 
a couple of my <ERROR>lor</ERROR> clerks were <ERROR>gomeing</ERROR> to <ERROR>pas</ERROR> me in three or four years , and i was afraid <num> i was going to <ERROR>naf</ERROR> to <ERROR>aske</ERROR> them <ERROR>fore</ERROR> a loan , the judge quipped <ERROR>is</ERROR> an interview . 
judge ramirez , <num> , said <num> it <ERROR>his</ERROR> unjust for judges to make what they do . 
<ERROR>your</ERROR> look around <ERROR>as</ERROR> professional ballplayers or accountants and nobody blinks an eye . 
at his new <ERROR>gob</ERROR> , as partner in charge <ERROR>ovot</ERROR> federal litigation in the sacramento office of orrick , herrington & sutcliffe , he will <ERROR>mack</ERROR> out <ERROR>march</ERROR> better . 
doonesbury creator's <ERROR>unioun</ERROR> troubles are no laughing <ERROR>matr</ERROR> . 
<ERROR>thw</ERROR> dispute involves darkhorse productions inc. , a tv production company <ERROR>if</ERROR> which mr. trudeau is a co-owner . 
the guild began a <ERROR>strick</ERROR> against the tv and movie industry in <ERROR>mach</ERROR> <num> . 
a spokesman for the guild said <num> the union 's lawyers are reviewing the suit . 
mr. trudeau 's attorney , norman k. samnick , said <num> the harassment consists mainly of the guild 's year-long threats of disciplinary action . 
mr. samnick , who will go before the disciplinary panel , said <num> <ERROR>hte</ERROR> proceedings <ERROR>rae</ERROR> unfair <ERROR>than</ERROR> that any punishment from the guild would be unjustified . 
abortion ruling upheld : 
<ERROR>as</ERROR> department of health and <ERROR>humon</ERROR> services rule adopted <ERROR>it</ERROR> <num> prohibits <ERROR>an</ERROR> use of so-called title x funds <ERROR>fre</ERROR> programs that <ERROR>asist</ERROR> a woman <ERROR>it</ERROR> obtaining an abortion , such <ERROR>asw</ERROR> abortion counseling and referrals . 
title x funds are <ERROR>t</ERROR> single largest source of <ERROR>fedral</ERROR> funding for family-planning services , according to the opinion by <ERROR>to</ERROR> second u.s. circuit court of appeals <ERROR>i</ERROR> new york . 
<ERROR>inquirey</ERROR> clears texas judge <ERROR>op</ERROR> bias in comments on homosexual <ERROR>merder</ERROR> victims . 
<ERROR>thi</ERROR> judge was quoted as <ERROR>remfeminc</ERROR> to the victims as queers and saying <num> they would n't have been <ERROR>killd</ERROR> if they <ERROR>hat</ERROR> n't <ERROR>being</ERROR> cruising <ERROR>i</ERROR> streets <ERROR>piking</ERROR> up teenage boys . 
observing <ERROR>anthe</ERROR> the judge <ERROR>hos</ERROR> never exhibited any bias <ERROR>all</ERROR> prejudice , mr. murray concluded that <ERROR>if</ERROR> would <ERROR>dy</ERROR> impartial in any case involving a homosexual or prostitute <ERROR>hase</ERROR> a victim . 
the report is subject to review by the state commission on judicial conduct , which is empowered to impose sanctions . 
attorneys <ERROR>is</ERROR> the third stock-manipulation trial of gaf corp. <ERROR>begain</ERROR> opening arguments yesterday in the manhattan courtroom of u.s. <ERROR>distrect</ERROR> judge mary johnson lowe . 
the first two gaf trials ended in mistrials earlier this year . 
switching to the defense : 
michael r. bromwich , a member <ERROR>sins</ERROR> january <num> of <ERROR>to</ERROR> three-lawyer trial <ERROR>teem</ERROR> in the prosecution of oliver north , became a partner in the washington , d.c. , office of the 520-lawyer firm . 
mr. bromwich , <num> , <ERROR>all</ERROR> has served as deputy chief and chief of the narcotics unit for the u.s. <ERROR>erterey</ERROR> 's office for the <ERROR>suthern</ERROR> district of new york , based in manhattan . 
terms were n't disclosed . 
fujitsu ltd. 's top <ERROR>exectutive</ERROR> took the <ERROR>unusal</ERROR> step <ERROR>or</ERROR> publicly <ERROR>apaligizing</ERROR> for his <ERROR>compeny</ERROR> 's making bids of just one yen for several local government projects , while computer rival nec corp. made a <ERROR>writen</ERROR> apology <ERROR>fon</ERROR> indulging in the same practice . 
fujitsu said <num> it bid the <ERROR>equivelant</ERROR> of less than a u.s. <ERROR>penney</ERROR> on three separate municipal contracts during the past <ERROR>too</ERROR> years . 
<ERROR>by</ERROR> fujitsu , japan 's no. <num> computer maker , is n't <ERROR>aloun</ERROR> . 
<ERROR>it</ERROR> both cases , nec lost the <ERROR>contrack</ERROR> to fujitsu , which made <ERROR>thw</ERROR> same bid and <ERROR>wone</ERROR> a tie-breaking lottery . 
the ministry of international trade <ERROR>so</ERROR> industry summoned executives from the companies to make sure <num> they understood the concern about <ERROR>sach</ERROR> practices , according to a government spokesman . 
japan 's <ERROR>fare</ERROR> trade commission has <ERROR>siad</ERROR> <num> it is considering investigating the bids for possible antitrust-law violations . 
the bids , he added <num> , were contrary to common sense . 
japanese <ERROR>companys</ERROR> have long had <ERROR>as</ERROR> reputation for sacrificing short-term profits <ERROR>ro</ERROR> make a sale that may have long-term <ERROR>benefites</ERROR> . 
the fire is <ERROR>alls</ERROR> fueled <ERROR>bery</ERROR> growing international interest in japanese behavior . 
but in one of the auctions in question , international business machines corp. made <ERROR>ah</ERROR> bid substantially <ERROR>hire</ERROR> than the fujitsu offer , according to the municipality . 
foreigners complain <ERROR>net</ERROR> they <ERROR>naf</ERROR> limited access <ERROR>the</ERROR> government procurement in japan , <ERROR>it</ERROR> part because <ERROR>japaneze</ERROR> companies unfairly undercut them . 
asked whether the bidding flap would <ERROR>hert</ERROR> u.s.-japan relations , mr. yamamoto said , this will be a minus factor . 
<ERROR>an</ERROR> city had expected <ERROR>the</ERROR> pay about <num> million yen -lrb- $ -rrb- , but fujitsu <ERROR>esentially</ERROR> offered to do it <ERROR>foir</ERROR> free . 
it also said that in july , it bid yen to design a system <ERROR>fore</ERROR> the saitama prefectural library , and <ERROR>tow</ERROR> years ago , it bid one yen to <ERROR>pan</ERROR> the telecommunications system for wakayama prefecture . 
<ERROR>th</ERROR> municipalities <ERROR>sent</ERROR> <num> they have n't decided whether <ERROR>tow</ERROR> try to force <ERROR>tu</ERROR> company to go through with the contracts . 
mr. yamamoto insisted that headquarters had n't approved the bids , and <ERROR>the</ERROR> he <ERROR>do</ERROR> n't know about most of the cases until wednesday . 
<ERROR>ond</ERROR> yen is not ethical , michio sasaki , an official at keidanren , the japan federation of <ERROR>eckonomick</ERROR> organizations , said . 
papers : 
terms were n't disclosed . 
tv : 
ntg was <ERROR>formd</ERROR> by osborn communications corp. and desai capital . 
sales <ERROR>it</ERROR> stores <ERROR>opp</ERROR> more than one year <ERROR>roes</ERROR> <num> % to $ million <ERROR>fou</ERROR> $ <ERROR>millon</ERROR> . 
the company said <num> it made the purchase in order <ERROR>too</ERROR> locally produce hydraulically operated shovels . 
furukawa said <num> the purchase of <ERROR>i</ERROR> french and german plants together will total <ERROR>abou</ERROR> <num> billion yen -lrb- $ <num> <ERROR>millon</ERROR> -rrb- . 
@ 
a - average rate <ERROR>pade</ERROR> yesterday by <num> <ERROR>lege</ERROR> banks and thrifts in the <num> largest metropolitan areas as compiled by bank rate <ERROR>moniter</ERROR> . 
guaranteed minimum <num> % . 
in september , <ERROR>these</ERROR> custom-chip maker <ERROR>seiad</ERROR> <num> excess capacity and lagging billings would result in an estimated $ <num> million to $ <num> million net loss for the third quarter . 
over the summer <ERROR>moths</ERROR> , <ERROR>thise</ERROR> has been a slowing in the rate <ERROR>from</ERROR> new orders from the computer sector , our primary market , said wilfred j. corrigan , chairman <ERROR>an</ERROR> chief executive <ERROR>oficer</ERROR> . 
as a result , the company said <num> it decided to phase out its oldest capacity and make <ERROR>apropoate</ERROR> reductions in operating expenses . 
not <ERROR>countin</ERROR> the extraordinary charge , the company said <num> it <ERROR>wred</ERROR> have had <ERROR>the</ERROR> net <ERROR>lose</ERROR> of $ million , or seven cents <ERROR>the</ERROR> share . 
revenue rose <num> % to $ million <ERROR>fam</ERROR> $ <num> million . 
related to that decision , the company said <num> it <ERROR>wase</ERROR> converting <ERROR>is</ERROR> santa clara , calif. , factory to a research and development facility . 
<ERROR>thus</ERROR> is <ERROR>as</ERROR> company that has invested in <ERROR>carpastiy</ERROR> additions more aggressively than any <ERROR>hiver</ERROR> company in the industry and now <ERROR>tu</ERROR> industry is <ERROR>groing</ERROR> more slowly <ERROR>a</ERROR> they are suddenly poorly positioned , said michael stark , chip analyst <ERROR>a</ERROR> robertson , stephens & co . 
yesterday 's announcement was made after markets closed . 
part of the <ERROR>probe</ERROR> is <ERROR>tat</ERROR> chip buyers are keeping inventories low because of jitters about the <ERROR>coure</ERROR> of the u.s. economy . 
william g. kuhns , <ERROR>farmer</ERROR> chairman <ERROR>anf</ERROR> chief executive officer of <ERROR>generall</ERROR> public utilities corp. , was <ERROR>ellected</ERROR> a <ERROR>directer</ERROR> of this maker of industrial <ERROR>are</ERROR> construction <ERROR>equippment</ERROR> , increasing <ERROR>bord</ERROR> membership to <num> . 
while market sentiment remains cautiously bearish on the <ERROR>dollor</ERROR> based on sluggish u.s. economic indicators , dealers <ERROR>not</ERROR> that japanese demand has helped underpin the dollar against <ERROR>an</ERROR> yen <ERROR>i</ERROR> has kept the u.s. currency from plunging below key levels against the mark . 
jay goldinger , with capital insight inc. , reasons that while the mark has posted significant gains against the yen as well the mark climbed <ERROR>the</ERROR> yen from yen <ERROR>dayet</ERROR> tuesday in new york the strength of <ERROR>to</ERROR> u.s. bond market compared to its foreign counterparts has helped lure investors <ERROR>tow</ERROR> dollar-denominated bonds , <ERROR>raver</ERROR> than mark bonds . 
who knows what will happen down the road , in three <ERROR>too</ERROR> six months , if foreign investment starts to erode ? 
sterling was quoted at $ , down <ERROR>frome</ERROR> $ late tuesday . 
douglas madison , a corporate trader <ERROR>wiht</ERROR> bank of <ERROR>ameraca</ERROR> in los angeles , traced the <ERROR>dollor</ERROR> 's <ERROR>resent</ERROR> solid <ERROR>performence</ERROR> against <ERROR>to</ERROR> yen to purchases of securities by japanese insurance companies <ERROR>anf</ERROR> trust banks <ERROR>aand</ERROR> the sense <ERROR>hat</ERROR> another wave of investment is <ERROR>waitng</ERROR> in the wings . 
<ERROR>here</ERROR> cites the <ERROR>resent</ERROR> deal between the mitsubishi estate co. and <ERROR>t</ERROR> rockefeller group , as well as <ERROR>thw</ERROR> possible white knight role <ERROR>gf</ERROR> an undisclosed japanese company in the georgia-pacific corp. takeover bid for great northern nekoosa corp. as <ERROR>evedence</ERROR> . 
it remains unclear <ERROR>weather</ERROR> the bond <ERROR>isue</ERROR> will be <ERROR>rolld</ERROR> over . 
they point out that <ERROR>thess</ERROR> institutions want <ERROR>the</ERROR> lock in returns on high-yield u.s. <ERROR>treasurey</ERROR> debt and suggest <num> <ERROR>demarned</ERROR> for the u.s. unit will continue unabated until rates in the u.s. recede . 
dealers said <num> the <ERROR>doller</ERROR> merely drifted <ERROR>louer</ERROR> following the release wednesday of <ERROR>thee</ERROR> u.s. purchasing managers ' report . 
<ERROR>sane</ERROR> dealers <ERROR>sad</ERROR> <num> the <ERROR>dollor</ERROR> was pressured slightly <ERROR>becase</ERROR> a number of market participants had boosted their expectations in the past day and were looking for <ERROR>on</ERROR> index above <num> , which indicates an expanding manufacturing economy . 
on the commodity exchange <ERROR>with</ERROR> new york , gold for current delivery settled at $ <ERROR>am</ERROR> ounce , down <num> <ERROR>cens</ERROR> . 
<ERROR>with</ERROR> early trading in hong kong thursday , gold <ERROR>widd</ERROR> quoted at $ an ounce . 
<ERROR>buts</ERROR> some of <ERROR>thee</ERROR> tv stations that <ERROR>bout</ERROR> cosby reruns <ERROR>far</ERROR> record prices two <ERROR>yers</ERROR> ago are n't <ERROR>lafing</ERROR> much <ERROR>there</ERROR> days . 
but <ERROR>an</ERROR> ratings are <ERROR>considerable</ERROR> below expectations , and <ERROR>same</ERROR> stations say <num> they may not <ERROR>by</ERROR> new episodes when their current contracts expire . 
at the same <ERROR>tim</ERROR> , viacom is trying <ERROR>too</ERROR> persuade stations to make <ERROR>committments</ERROR> to a different <ERROR>wald</ERROR> , a spin-off of cosby <ERROR>whos</ERROR> reruns will become available in <num> . 
we 're willing to negotiate , says dennis gillespie , executive vice <ERROR>presedent</ERROR> of marketing . 
but , says <num> the general manager of a network affiliate <ERROR>it</ERROR> the midwest , <ERROR>is</ERROR> think <num> <ERROR>is</ERROR> i <ERROR>tel</ERROR> them <num> i need more <ERROR>thim</ERROR> , they 'll take ` cosby ' across the street , 
one station manager says <num> <ERROR>had</ERROR> believes <num> viacom 's <ERROR>omve</ERROR> is a pre-emptive <ERROR>strick</ERROR> because <ERROR>i</ERROR> company is worried that cosby ratings will continue to drop <ERROR>i</ERROR> syndication over <ERROR>tehe</ERROR> next few years . 
mr. gillespie at viacom says <num> the ratings are rising . 
dick lobo , the general manager of wtvj , the nbc-owned station in miami , for <ERROR>exsample</ERROR> , <ERROR>ses</ERROR> <num> the <ERROR>sho</ERROR> has been a major disappointment <ERROR>of</ERROR> us . 
there was n't . 
<ERROR>bun</ERROR> he adds , i feel pressured , <ERROR>dissappointed</ERROR> , uncomfortable and , frankly , <ERROR>qiuet</ERROR> angry with viacom . 
david wu , the <ERROR>compy</ERROR> 's representative in taiwan , said <num> atlanta-based <ERROR>lif</ERROR> of georgia will sell <ERROR>convential</ERROR> life-insurance products . 
in this era of frantic competition for ad dollars , a lot of revenue-desperate magazines are getting pretty cozy with advertisers fawning over them in <ERROR>articals</ERROR> and <ERROR>offoring</ERROR> pages of advertorial space . 
garbage magazine , billed <ERROR>als</ERROR> the practical journal <ERROR>forr</ERROR> the environment , is <ERROR>abou</ERROR> to find out <num> . 
<ERROR>these</ERROR> magazine combines how-to pieces on topics like backyard composting , <ERROR>explanotory</ERROR> essays on such things <ERROR>tes</ERROR> what happens after <ERROR>yow</ERROR> flush your toilet , and hard-hitting pieces on alleged environmental offenders . 
<ERROR>is</ERROR> one feature , called in the dumpster , editors point <ERROR>owt</ERROR> a <ERROR>prodect</ERROR> <num> <ERROR>their</ERROR> deem <ERROR>tow</ERROR> be a particularly bad offender . 
<ERROR>wint</ERROR> only two issues under its belt , garbage has alienated some would-be advertisers <ERROR>a</ERROR> raised <ERROR>a</ERROR> ire of others . 
the magazine 's editors ran a <ERROR>gaint</ERROR> diagram of the product with arrows pointing <ERROR>too</ERROR> the packaging 's polystyrene foam , polyproplene and polyester <ERROR>flim</ERROR> all plastic <ERROR>itims</ERROR> <num> they say <num> are non-biodegradable . 
i think that this magazine is not only called garbage , <ERROR>put</ERROR> it is practicing journalistic garbage , fumes <ERROR>are</ERROR> spokesman <ERROR>or</ERROR> campbell <ERROR>sup</ERROR> . 
modifications had <ERROR>be</ERROR> made to the souper combo product at the <ERROR>tine</ERROR> <num> the issue was printed , he says <num> , <ERROR>makeing</ERROR> it less <ERROR>un</ERROR> offender than was portrayed . 
campbell soup , not surprisingly , does n't have any plans to <ERROR>advertize</ERROR> in the magazine , according to its spokesman . 
you really need the campbell soups <ERROR>on</ERROR> the world <ERROR>th</ERROR> be <ERROR>interrested</ERROR> in your magazine <ERROR>is</ERROR> you 're going <ERROR>of</ERROR> make <ERROR>the</ERROR> run <ERROR>ovot</ERROR> it , <ERROR>sais</ERROR> mike white , senior <ERROR>vise</ERROR> president and media director at ddb needham , chicago . 
the first two issues featured ads from <ERROR>oly</ERROR> a handful of big advertisers , including general electric <ERROR>than</ERROR> adolph coors , but the majority were from <ERROR>companys</ERROR> like waste management inc. and bumkins international , firms that do n't spend much money <ERROR>advertiseing</ERROR> and ca n't be <ERROR>realied</ERROR> on to support <ERROR>and</ERROR> magazine <ERROR>ower</ERROR> the <ERROR>lang</ERROR> haul . 
we do n't spend much on print <ERROR>advertiseing</ERROR> , she <ERROR>seys</ERROR> . 
individual copies of <ERROR>to</ERROR> magazine sell for $ and yearly subscriptions cost $ <num> . 
<ERROR>acording</ERROR> to ms. poore , old-house journal corp. , her publishing company , printed and sold <ERROR>at</ERROR> copies of <ERROR>these</ERROR> premiere <ERROR>isue</ERROR> . 
<ERROR>askt</ERROR> whether potential advertisers <ERROR>wull</ERROR> be scared away <ERROR>biy</ERROR> the magazine 's direct policy , ms. poore replies : i do n't know <ERROR>i</ERROR> i do n't care . 
ad notes . 
interpublic group <ERROR>ded</ERROR> <num> its television programming operations which it expanded earlier this year agreed <ERROR>of</ERROR> supply more than <ERROR>ours</ERROR> of original programming across europe in <num> . 
<ERROR>et</ERROR> said <num> that volume makes it <ERROR>t</ERROR> largest supplier of original tv programming <ERROR>is</ERROR> europe . 
<ERROR>its</ERROR> plans to sell the ad <ERROR>thim</ERROR> to its clients at a discount . 
corestates <ERROR>financal</ERROR> corp. , philadelphia , named earle palmer brown & spiro , philadelphia , as agency of record for <ERROR>is</ERROR> $ <num> <ERROR>millon</ERROR> account . 
at&t fax : 
billings were n't disclosed for the small <ERROR>acount</ERROR> , which <ERROR>have</ERROR> been serviced at young & rubicam , <ERROR>now</ERROR> york . 
enterprise rent-a-car inc. breaks <ERROR>is</ERROR> first national ad campaign this week . 
developed <ERROR>buy</ERROR> avrett , free & ginsberg , new york , the $ <num> million campaign pitches enterprise 's consumer-driven service <ERROR>ane</ERROR> its free pick-up and drop-off service . 
young & rubicam said <num> it completed its acquisition of landor associates , <ERROR>the</ERROR> san francisco identity-management firm . 
ketchum communications , pittsburgh , acquired braun & co. , a los angeles investor-relations and marketing-communications <ERROR>fern</ERROR> . 
sea containers ltd. said <num> it might <ERROR>increasi</ERROR> the <ERROR>prise</ERROR> of its $ 70-a-share buy-back plan <ERROR>it</ERROR> pressed by temple holdings ltd. , which <ERROR>maid</ERROR> an <ERROR>erlyer</ERROR> tender offer for sea containers . 
the <ERROR>omve</ERROR> is designed to ward off a hostile takeover attempt by two european <ERROR>shippin</ERROR> concerns , stena holding ag and tiphook plc . 
in august , temple sweetened <ERROR>my</ERROR> offer to $ <num> a <ERROR>shear</ERROR> , <ERROR>all</ERROR> $ <num> million . 
<ERROR>abelt</ERROR> $ <num> million <ERROR>ov</ERROR> that would be allocated to the buy-back , leaving about $ <num> million , he said <num> . 
we are able <ERROR>ro</ERROR> increase our price above <ERROR>these</ERROR> $ <num> level if <ERROR>nessacary</ERROR> . 
mr. sherwood speculated that the <ERROR>leaway</ERROR> that sea containers has means that temple would <ERROR>har</ERROR> to substantially increase their bid if they 're going to <ERROR>tap</ERROR> us . 
a spokesman for temple estimated that sea containers ' plan if all the asset sales materialize would result in shareholders receiving <ERROR>oly</ERROR> $ <num> to $ <num> a share in cash . 
temple added that sea containers is still mired in legal problems in bermuda , where <ERROR>thw</ERROR> supreme court has temporarily barred <ERROR>see</ERROR> containers from <ERROR>buyin</ERROR> back its <ERROR>our</ERROR> stock in a <ERROR>cace</ERROR> brought by stena <ERROR>are</ERROR> tiphook . 
temple also said <num> <ERROR>see</ERROR> containers ' plan raises numerous <ERROR>leagle</ERROR> , regulatory , financial <ERROR>aand</ERROR> fairness issues , but did n't elaborate . 
in new york stock exchange composite trading yesterday , <ERROR>see</ERROR> containers <ERROR>closd</ERROR> at $ , up cents . 
<ERROR>an</ERROR> department proposed requiring stronger roofs <ERROR>forr</ERROR> light trucks and minivans , beginning with <num> models . 
such belts already are <ERROR>reequired</ERROR> for the <ERROR>w</ERROR> ' front seats . 
in september , the department had said <num> it will require trucks and minivans to be <ERROR>gemant</ERROR> with <ERROR>my</ERROR> same front-seat headrests that have <ERROR>log</ERROR> been <ERROR>reequired</ERROR> on <ERROR>passanger</ERROR> cars . 
safety advocates , including some <ERROR>menbers</ERROR> of congress , have been urging the department for years to extend car-safety requirements to light trucks and vans , which now account <ERROR>four</ERROR> almost one-third <ERROR>off</ERROR> all vehicle sales <ERROR>if</ERROR> the u.s. . 
<ERROR>thir</ERROR> did n't have much luck during the reagan administration . 
we 're in a very different regulatory environment . 
we <ERROR>cod</ERROR> prevent <ERROR>mony</ERROR> of these fatalities with minimum roof-crush standards , he said . 
the department 's roof-crush proposal <ERROR>wood</ERROR> apply to vehicles weighing pounds or less . 
<ERROR>durin</ERROR> the test , the roof could n't <ERROR>bee</ERROR> depressed more than <ERROR>fiv</ERROR> inches . 
<ERROR>here</ERROR> said <num> chrysler fully expects to have them installed across its light-truck line <ERROR>bery</ERROR> the sept. <num> , <num> , deadline . 
john leinonen , executive <ERROR>enginer</ERROR> of ford motor co. 's auto-safety <ERROR>ofice</ERROR> , said <num> ford trucks have met car standards for roof-crush resistance since <num> . 
the new explorer sport-utility vehicle , set <ERROR>four</ERROR> introduction next spring , will <ERROR>all</ERROR> have the rear-seat belts . 
consolidated rail corp. said <num> it would spend more than $ <num> million on enclosed railcars for transporting autos . 
this <ERROR>yer</ERROR> , the <ERROR>railrode</ERROR> holding company acquired <num> such railcars . 
sir peter will <ERROR>success</ERROR> sir john milne , <num> , who retires as blue <ERROR>sircul</ERROR> nonexecutive chairman <ERROR>onn</ERROR> june <num> . 
<ERROR>these</ERROR> discussions were disclosed as <ERROR>th</ERROR> bank holding company said that it <ERROR>his</ERROR> dropped <ERROR>is</ERROR> longstanding opposition to full interstate banking bills <ERROR>if</ERROR> connecticut and in massachusetts . 
<ERROR>curruntly</ERROR> , <ERROR>bothe</ERROR> massachusetts and connecticut , <ERROR>wer</ERROR> most of bank of new england 's operations are , allow interstate banking only <ERROR>withing</ERROR> new england . 
we have , and i 'm sure <num> others have , considered what <ERROR>hore</ERROR> options are , and we 've had conversations with people who in the future <ERROR>mit</ERROR> prove to be interesting <ERROR>parteners</ERROR> . 
mr. driscoll did n't elaborate about who the potential partners were or when <ERROR>hte</ERROR> talks were held . 
bank <ERROR>oaf</ERROR> new england has been hit hard by the region 's real-estate slump , with its net income declining <num> % to $ <ERROR>millon</ERROR> , or <num> <ERROR>cens</ERROR> a share , in the <ERROR>fist</ERROR> nine <ERROR>monthes</ERROR> of <num> <ERROR>fere</ERROR> the year-earlier <ERROR>perend</ERROR> . 
it recently signed a <ERROR>plimary</ERROR> agreement <ERROR>tow</ERROR> negotiate exclusively with the bank of tokyo ltd. for the <ERROR>sail</ERROR> of part of its leasing business to the <ERROR>japaneze</ERROR> bank . 
the reduced dividend is payable jan. <num> to stock of record dec. <num> . 
<ERROR>with</ERROR> the year-ago quarter , <ERROR>they</ERROR> company reported net income of $ million , or <num> <ERROR>cens</ERROR> a share . 
michael henderson , 51-year-old group chief <ERROR>exectutive</ERROR> of <ERROR>thes</ERROR> u.k. metals and industrial materials maker , will become <ERROR>chairmen</ERROR> in may , succeeding ian butler , <num> , <ERROR>her</ERROR> is retiring . 
rally 's inc. said <num> it has redeemed its rights outstanding <ERROR>isued</ERROR> monday in its shareholder rights plan . 
<ERROR>hte</ERROR> fast-food company said <num> its <ERROR>decission</ERROR> was based upon discussions with a shareholder group , giant group ltd. , in an effort to resolve <ERROR>certian</ERROR> disputes with the company . 
when warren winiarski , proprietor of stag 's leap wine cellars in napa valley , announced a $ <num> price <ERROR>tage</ERROR> for his <num> cask <num> cabernet this <ERROR>fal</ERROR> , few wine shops and restaurants around the <ERROR>cout</ERROR> balked . 
it is in my estimation <ERROR>that</ERROR> best wine <num> stag 's leap has produced , <ERROR>than</ERROR> with fewer than <num> cases available , it <ERROR>his</ERROR> sure to <ERROR>selle</ERROR> quickly . 
diamond creek <num> lake vineyard cabernet weighed in this <ERROR>full</ERROR> with a sticker price of $ <num> a bottle . 
<ERROR>in</ERROR> years , this group included a stable of classics bordeaux first growths -lrb- lafite-rothschild , latour , haut-brion , petrus -rrb- , grand cru burgundies -lrb- romanee-conti <ERROR>than</ERROR> la tache -rrb- deluxe champagnes -lrb- dom perignon or roederer cristal -rrb- , rarefied <ERROR>swet</ERROR> wines -lrb- chateau yquem or trockenbeerenauslesen rieslings from germany , <ERROR>than</ERROR> biondi-santi brunello riserva from tuscany -rrb- . 
in the last year <ERROR>ore</ERROR> so , <ERROR>how</ERROR> , this exclusive <ERROR>clob</ERROR> has <ERROR>takin</ERROR> in a host of flashy <ERROR>neu</ERROR> members . 
france can boast <ERROR>my</ERROR> lion 's share of high-priced bottles . 
these prices seem rather modest , however , in <ERROR>lit</ERROR> of other <ERROR>franch</ERROR> wines from current vintages . 
<ERROR>i</ERROR> champagne , some of the prestige cuvees are inching <ERROR>tord</ERROR> $ <num> a bottle . 
the salon is $ <num> . 
the <ERROR>fod</ERROR> reds <ERROR>gf</ERROR> the rhone valley have soared in <ERROR>prise</ERROR> as well . 
none of france 's wine regions can steal <ERROR>the</ERROR> march on burgundy , however . 
with the <num> vintage , <ERROR>thir</ERROR> soared higher : la tache , $ <num> ; richebourg , $ <num> ; romanee-conti , $ <num> . 
from italy there is angelo gaja barbaresco at $ <num> a bottle , piero antinori 's la solaia , <ERROR>ah</ERROR> $ <num> cabernet from tuscany , and biondi-santi brunello at $ <num> . 
there are certain cult wines that can command <ERROR>thes</ERROR> higher prices , says larry shapiro of marty 's , one of <ERROR>thee</ERROR> largest wine shops in dallas . 
we 're seeing it partly because <ERROR>oldr</ERROR> vintages are growing more scarce . 
some of the newer wines , even at $ <num> to $ <num> a <ERROR>bottel</ERROR> or so , almost offer <ERROR>an</ERROR> bargain . 
<ERROR>its</ERROR> 's made only in <ERROR>yares</ERROR> when the grapes ripen perfectly -lrb- <ERROR>they</ERROR> last was <num> -rrb- and comes <ERROR>form</ERROR> a single acre of <ERROR>graps</ERROR> that yielded a mere <num> cases in <num> . 
offering <ERROR>a</ERROR> wine at roughly $ <num> a bottle <ERROR>wholsale</ERROR> -lrb- $ <num> retail -rrb- , he sent merchants around the country a form asking <ERROR>then</ERROR> to check one of three answers : <num> -rrb- no , <ERROR>i</ERROR> wine is too high -lrb- <num> responses -rrb- ; <num> -rrb- yes , it 's high but i 'll take it -lrb- <num> responses -rrb- ; <num> -rrb- i 'll take all <num> i can get -lrb- <num> responses -rrb- . 
<ERROR>wen</ERROR> thought <num> it <ERROR>way</ERROR> awfully expensive , said sterling pratt , wine director at schaefer 's in skokie , ill. , <ERROR>on</ERROR> of the <ERROR>tap</ERROR> stores <ERROR>i</ERROR> suburban chicago , <ERROR>p</ERROR> there are people <ERROR>aut</ERROR> there <ERROR>whin</ERROR> very different opinions <ERROR>off</ERROR> value . 
mr. pratt remarked that he thinks <num> steeper prices have <ERROR>cam</ERROR> about <ERROR>becu</ERROR> producers do n't like <ERROR>ro</ERROR> see <ERROR>the</ERROR> hit wine dramatically increase in price <ERROR>letter</ERROR> on . 
there may be sticker-shock reaction initially , said mr. pratt , <ERROR>buts</ERROR> as the wine is talked about <ERROR>than</ERROR> starts to <ERROR>selle</ERROR> , they eventually get excited <ERROR>a</ERROR> decide <num> <ERROR>i</ERROR> 's worth the astronomical <ERROR>prise</ERROR> to add it <ERROR>ro</ERROR> their collection . 
they like to talk about <ERROR>hower</ERROR> the new red <ERROR>rok</ERROR> terrace -lcb- one <ERROR>op</ERROR> diamond creek 's cabernets -rcb- or the dunn <num> cabernet , or the petrus . 
that explains why <ERROR>these</ERROR> number <ERROR>ofr</ERROR> these wines is expanding so <ERROR>rapedly</ERROR> . 
they wo n't <ERROR>by</ERROR> if the quality is not there , said cedric martin of martin wine cellar in new orleans . 
mr. martin has increased prices <ERROR>and</ERROR> some wines -lrb- like grgich hills chardonnay , now $ <num> -rrb- just to slow <ERROR>town</ERROR> movement , but he is beginning to see <ERROR>same</ERROR> resistance to high-priced red burgundies and cabernets and chardonnays in the $ <num> <ERROR>the</ERROR> $ <num> range . 
wine merchants ca n't keep roederer cristal in stock , but they <ERROR>had</ERROR> to push salon le mesnil , <ERROR>in</ERROR> lowering the price <ERROR>forma</ERROR> $ <num> to $ <num> . 
it 's <ERROR>interisting</ERROR> to <ERROR>fined</ERROR> that a lot of the <ERROR>expencive</ERROR> wines are n't <ERROR>allways</ERROR> walking out <ERROR>that</ERROR> door . 
with the biggest wine-buying <ERROR>pero</ERROR> of the year looming as <ERROR>my</ERROR> holidays approach , <ERROR>et</ERROR> will be interesting to <ERROR>se</ERROR> how the superpremiums fare . 
ms. ensrud is a free-lance wine writer in new york . 
a survey by the fed 's <num> <ERROR>distrect</ERROR> banks shows <num> economic growth <ERROR>have</ERROR> been sluggish in recent weeks , while upward pressures on prices have moderated . 
if <ERROR>yow</ERROR> look <ERROR>an</ERROR> the third quarter as posting roughly % growth , <ERROR>are</ERROR> do see <ERROR>so</ERROR> slowing in the fourth quarter , agrees kansas <ERROR>set</ERROR> fed president roger guffey . 
<ERROR>wot</ERROR> 're <ERROR>comieg</ERROR> closer <ERROR>ro</ERROR> achieving the stated objective of slowing the economy to <ERROR>i</ERROR> point where hopefully some downward trend in prices will occur , <ERROR>sind</ERROR> mr. guffey . 
i think <num> the market had been expecting the fed <ERROR>too</ERROR> ease <ERROR>soner</ERROR> and a little more <ERROR>that</ERROR> it has <ERROR>th</ERROR> date , said robert johnson , vice <ERROR>presedent</ERROR> of global markets for bankers trust co . 
the report from the fed found that manufacturing , in <ERROR>partical</ERROR> , has been <ERROR>week</ERROR> in recent weeks . 
and in the chicago district , the report said <num> , a manufacturer of <ERROR>capitol</ERROR> goods <ERROR>notted</ERROR> slower orders for some types , including defense equipment , petroleum equipment , food packaging machinery and material handling equipment . 
and <ERROR>construcktion</ERROR> also <ERROR>his</ERROR> described as slow in most areas . 
<ERROR>als</ERROR> a result , fed officials may be divided over whether to ease credit . 
mr. black said <num> he is pleased <ERROR>we</ERROR> the economy 's <ERROR>resent</ERROR> performance , <ERROR>so</ERROR> does n't see <ERROR>the</ERROR> lot of excesses out there that would tilt us into recession . 
integra-a hotel & <ERROR>ruasturant</ERROR> co. said <num> its planned rights offering <num> to <ERROR>rase</ERROR> about $ <num> million was declared effective <ERROR>so</ERROR> the <ERROR>compeny</ERROR> will begin mailing materials <ERROR>th</ERROR> shareholders at the end of this week . 
each right entitles the shareholder to buy $ <num> face <ERROR>ammount</ERROR> of % bonds <ERROR>dew</ERROR> <num> and warrants <ERROR>of</ERROR> buy common shares at <num> cents a share . 
integra , which owns and operates hotels , said <ERROR>vat</ERROR> hallwood <ERROR>groupe</ERROR> inc. <ERROR>his</ERROR> agreed <ERROR>of</ERROR> exercise any rights that are n't <ERROR>excerises</ERROR> by other shareholders . 
copperweld corp. , a specialty steelmaker , <ERROR>sid</ERROR> <num> <num> workers at a plant <ERROR>with</ERROR> shelby , ohio , began a strike <ERROR>haved</ERROR> the united steelworkers local <num> rejected <ERROR>and</ERROR> new contract <ERROR>and</ERROR> tuesday . 
the <ERROR>unioun</ERROR> vote to reject the proposed pact was . 
it said <num> <ERROR>its</ERROR> has taken measures <ERROR>th</ERROR> continue shipments during <ERROR>they</ERROR> work stoppage . 
michael basham , deputy <ERROR>assisstant</ERROR> secretary <ERROR>fre</ERROR> federal finance , said <num> the treasury may wait until late monday or even early tuesday <ERROR>the</ERROR> announce <ERROR>whetherr</ERROR> the autions are to <ERROR>bei</ERROR> rescheduled . 
without congressional action , the treasury ca n't sell any new securities even savings bonds . 
each <ERROR>days</ERROR> that <ERROR>cangress</ERROR> fails <ERROR>tow</ERROR> act will cause additional disruption in our borrowing <ERROR>schedul</ERROR> , possibly resulting in higher interest costs to the taxpayer , treasury secretary nicholas brady said in a speech prepared for delivery last night <ERROR>th</ERROR> a group of bankers . 
the securities <num> to be sold next week <ERROR>well</ERROR> raise about $ <num> billion in cash and redeem $ <num> billion in maturing notes . 
$ <num> billion of three-year notes , <num> to be auctioned tuesday and to mature nov. <num> , <num> . 
$ <num> billion of 30-year bonds , <num> to be auctioned thursday and to mature aug. <num> , <num> . 
they will mature dec. <num> . 
the treasury said <num> it needs to <ERROR>rase</ERROR> $ billion in the current quarter <ERROR>im</ERROR> order to end december <ERROR>we</ERROR> a $ <num> billion cash balance . 
<ERROR>tu</ERROR> remaining $ billion could be raised through the sale of short-term treasury bills , two-year <ERROR>nots</ERROR> in november <ERROR>aand</ERROR> five-year notes in early december , the treasury <ERROR>seiad</ERROR> <num> . 
lancaster colony corp. said <num> <ERROR>il</ERROR> acquired reames foods inc. <ERROR>im</ERROR> a cash transaction . 
reames , a maker and marketer of frozen noodles and pre-cooked pasta <ERROR>basen</ERROR> in clive , iowa , <ERROR>his</ERROR> annual sales of about $ <num> million , lancaster said <num> . 
bond prices and the <ERROR>dollor</ERROR> both <ERROR>ganed</ERROR> modestly . 
but advancing issues <ERROR>ons</ERROR> the new york <ERROR>stark</ERROR> exchange <ERROR>weer</ERROR> tidily <ERROR>ahade</ERROR> of declining stocks , <num> to <num> . 
continuing demand <ERROR>fore</ERROR> dollars <ERROR>forme</ERROR> japanese investors boosted <ERROR>thw</ERROR> u.s. currency . 
the industrial average jumped more <ERROR>that</ERROR> <num> points tuesday as speculators rushed to buy shares of potential takeover targets . 
economic news had <ERROR>lettle</ERROR> effect on financial markets . 
the federal <ERROR>resurve</ERROR> 's beige book , a summary of economic conditions across <ERROR>t</ERROR> country , indicated that the overall economy remains in <ERROR>and</ERROR> pattern of sluggish growth . 
stock prices rose fractionally <ERROR>with</ERROR> moderate trading . 
bond prices were up . 
the <ERROR>yeild</ERROR> fell <ERROR>the</ERROR> % . 
in late <ERROR>afternon</ERROR> new york trading the currency <ERROR>wos</ERROR> at marks and yen <ERROR>compased</ERROR> with marks and yen . 
net income more than tripled to billion yen from billion yen a year earlier . 
terms were n't disclosed . 
eaton is an automotive parts , controls and aerospace electronics concern . 
<ERROR>they</ERROR> offer follows an earlier proposal <ERROR>bery</ERROR> nl <ERROR>a</ERROR> mr. simmons to help georgia gulf restructure or go private <ERROR>if</ERROR> a transaction that would pay shareholders $ <num> a <ERROR>shear</ERROR> . 
<ERROR>howeverr</ERROR> , it <ERROR>as</ERROR> n't <ERROR>yat</ERROR> made <ERROR>ended</ERROR> proposals to shareholders . 
georgia gulf said <num> it has n't <ERROR>elimiated</ERROR> any alternatives and that discussions <ERROR>anr</ERROR> being held with interested parties , and work is also continuing on other various <ERROR>trasactions</ERROR> . 
analysts <ERROR>sore</ERROR> the latest offer <ERROR>was</ERROR> proof that mr. simmons , <ERROR>and</ERROR> aggressive and persistent investor , wo n't <ERROR>live</ERROR> georgia gulf alone <ERROR>intal</ERROR> some kind of transaction is completed . 
he <ERROR>appeares</ERROR> to be in it for the long haul . 
mr. simmons owns <num> % <ERROR>afoh</ERROR> valhi inc. , which in turn owns two-thirds of nl . 
mr. leming was n't surprised <ERROR>bery</ERROR> the lower price cited by nl , saying <num> he believes that $ <num> a share <ERROR>in</ERROR> the <ERROR>mast</ERROR> <num> you can pay for georgia gulf before <ERROR>et</ERROR> becomes a bad acquisition . 
j. landis martin , nl president and chief <ERROR>exectutive</ERROR> officer , said <num> nl and mr. simmons <ERROR>cat</ERROR> the <ERROR>prise</ERROR> <num> they were proposing for georgia gulf because they initially planned a transaction that included about $ <num> <ERROR>millon</ERROR> in equity and <ERROR>are</ERROR> substantial amount of high-yield subordinated <ERROR>deat</ERROR> . 
<ERROR>own</ERROR> , he said <num> , the <ERROR>groupe</ERROR> plans to <ERROR>but</ERROR> in several hundred million dollars in equity <ERROR>so</ERROR> finance <ERROR>tu</ERROR> remainder with bank debt . 
in a letter to georgia gulf <ERROR>presedent</ERROR> jerry r. satrum , mr. martin asked georgia gulf to answer its <ERROR>ofer</ERROR> by <ERROR>teusday</ERROR> . 
mr. martin <ERROR>sede</ERROR> <num> they have n't yet decided <ERROR>who</ERROR> their next move would be , but he did n't rule out <ERROR>they</ERROR> possibility of <ERROR>as</ERROR> consent solicitation aimed at replacing georgia gulf 's board . 
although georgia gulf has n't been eager to negotiate with mr. simmons and nl , <ERROR>ah</ERROR> specialty chemicals concern , the group apparently believes <num> the <ERROR>compy</ERROR> 's management <ERROR>as</ERROR> interested in <ERROR>sane</ERROR> kind of transaction . 
in <ERROR>tie</ERROR> third quarter , georgia gulf earned $ million , or $ a share , <ERROR>bonw</ERROR> from $ <num> <ERROR>millon</ERROR> , or $ a share on fewer shares outstanding . 
a licensing company representing the university <ERROR>ove</ERROR> pennsylvania added johnson & johnson to its lawsuit challenging a university faculty member <ERROR>ower</ERROR> rights to retin-a acne medicine . 
in may , university patents <ERROR>fild</ERROR> a suit in <ERROR>fedral</ERROR> court in philadelphia against albert m. kligman , a researcher and <ERROR>proffessor</ERROR> at the <ERROR>universit</ERROR> of pennsylvania school of medicine <ERROR>hu</ERROR> developed retin-a in the 1960s to combat acne . 
in new brunswick , n.j. , a johnson & johnson spokesman declined comment . 
officials from both nations say <num> the u.s. public 's skittishness <ERROR>aboit</ERROR> japanese investment could color <ERROR>and</ERROR> second round of bilateral economic talks <ERROR>scheluded</ERROR> for next week in washington . 
<ERROR>wuy</ERROR> they disagree is on the subject of u.s. direct investment in japan . 
the heated talk stirred up by recent japanese investments in the u.s. is focusing attention <ERROR>in</ERROR> the differences <ERROR>im</ERROR> investment climate , even <ERROR>thow</ERROR> it 's only one of many subjects <num> to be covered in <ERROR>thi</ERROR> bilateral talks , known as the structural impediments initiative . 
<ERROR>wee</ERROR> have a <ERROR>lang</ERROR> history of maintaining an open direct-investment <ERROR>polocy</ERROR> , mr. dallara says . 
the <ERROR>japaneze</ERROR> fret openly about <ERROR>they</ERROR> u.s. public 's rancor . 
we believe that it is vitally important <ERROR>frou</ERROR> those japanese <ERROR>businesss</ERROR> interests -lcb- <ERROR>im</ERROR> the u.s. . -rcb- <ERROR>of</ERROR> be more aware <ERROR>off</ERROR> the emotions <ERROR>an</ERROR> concerns of <ERROR>tu</ERROR> american <ERROR>porle</ERROR> , <ERROR>seid</ERROR> the spokesman , taizo watanabe . 
fears that japanese investors <ERROR>ah</ERROR> buying up america have escalated sharply in <ERROR>an</ERROR> past several weeks , with sony corp. 's purchase <ERROR>ovot</ERROR> columbia <ERROR>picturs</ERROR> entertainment inc. from coca-cola co. <ERROR>ane</ERROR> mitsubishi estate co. 's <ERROR>aquisistion</ERROR> of <ERROR>are</ERROR> <num> % <ERROR>holing</ERROR> in rockefeller <ERROR>groupe</ERROR> , the owner of some of midtown manhattan 's <ERROR>mate</ERROR> exclusive real estate . 
the texas oilman has acquired <ERROR>ah</ERROR> % stake valued at more <ERROR>then</ERROR> $ billion in an automotive-lighting <ERROR>compy</ERROR> , koito manufacturing <ERROR>comp</ERROR> . 
koito has refused <ERROR>too</ERROR> grant mr. pickens seats on <ERROR>it</ERROR> board , asserting <num> <ERROR>him</ERROR> is a greenmailer trying to pressure koito 's other shareholders into buying him out <ERROR>as</ERROR> a profit . 
the senate finance <ERROR>commitee</ERROR> , chaired by a fellow texan , democratic sen. lloyd bentsen , <ERROR>list</ERROR> month urged u.s. trade <ERROR>representitive</ERROR> carla hills to use mr. pickens 's experience in talks with tokyo to highlight this problem facing americans who seek access to the <ERROR>japaneze</ERROR> capital markets . 
among them are differences in savings and investment rates , corporate structures and <ERROR>managment</ERROR> , and government spending . 
the u.s. says <num> it is <ERROR>axioce</ERROR> for results . 
both sides have agreed that the talks will be <ERROR>mast</ERROR> successful <ERROR>is</ERROR> negotiators <ERROR>stab</ERROR> by focusing <ERROR>and</ERROR> the areas that can be most easily changed . 
<ERROR>afthe</ERROR> the <ERROR>frest</ERROR> set of meetings two months ago , some u.s. officials complained that japan had n't come up <ERROR>whin</ERROR> specific changes <num> it was prepared to make . 
just to say <num> the distribution <ERROR>sistem</ERROR> is <ERROR>rong</ERROR> does n't mean <ERROR>enything</ERROR> , <ERROR>ses</ERROR> a ministry of <ERROR>niternational</ERROR> trade and industry official . 
that process <ERROR>or</ERROR> sorting out specifics is likely to take time , the <ERROR>japaneze</ERROR> say <num> , no matter how badly the u.s. wants quick <ERROR>result</ERROR> . 
since then , a team <ERROR>afoh</ERROR> about <num> miti and u.s. commerce department officials have crossed the globe gauging consumer prices . 
little by <ERROR>littl</ERROR> , there is <ERROR>progess</ERROR> , says the miti <ERROR>orfechol</ERROR> . 
elisabeth rubinfien contributed to this article . 
for japan , <ERROR>that</ERROR> controversial trend improves access <ERROR>th</ERROR> american markets and technology . 
take the deal <ERROR>wiy</ERROR> candela laser corp. , a wayland , mass. , manufacturer of high-tech medical devices , which three years ago set its sights <ERROR>and</ERROR> japan as an export market . 
in a joint-venture <ERROR>deel</ERROR> , mitsui guided candela through tokyo 's bureaucratic maze . 
at last count , candela had sold $ <num> million of its medical <ERROR>def</ERROR> in japan . 
they view this as a <ERROR>grouth</ERROR> area so <ERROR>theire</ERROR> went about <ERROR>is</ERROR> with a systematic approach , says richard olsen , a candela vice president . 
the japanese companies bankroll many small u.s. companies with promising <ERROR>produts</ERROR> or <ERROR>idea</ERROR> , frequently putting their money behind projects that <ERROR>comersial</ERROR> banks wo n't touch . 
in the first half of <num> alone , japanese corporations invested $ <num> million in minority positions in u.s. companies , a <num> % rise from <ERROR>they</ERROR> figure <ERROR>in</ERROR> all <ERROR>for</ERROR> <num> , reports <num> venture economics inc . 
in addition , of course , some of the japanese investments involved outright purchase of <ERROR>smal</ERROR> u.s. firms . 
only this week , it was announced that mitsubishi estate co. had acquired a <num> % stake <ERROR>with</ERROR> rockefeller <ERROR>groupe</ERROR> , which owns new york 's prestigious rockefeller center . 
as the deals <ERROR>aso</ERROR> improve japanese access <ERROR>two</ERROR> american technology <ERROR>an</ERROR> market knowledge , they feed american anxieties <ERROR>is</ERROR> this <ERROR>are</ERROR> , too . 
free state glass industries of warrenton , va. , a small fabricator of architectural <ERROR>glas</ERROR> , was foundering under its <ERROR>origanal</ERROR> management . 
the deal <ERROR>in</ERROR> chiefly designed to give mitsubishi a window on the u.s. <ERROR>glas</ERROR> industry , says ichiro wakui , an executive <ERROR>is</ERROR> mitsubishi 's <ERROR>genroll</ERROR> merchandise department in <ERROR>now</ERROR> york . 
<ERROR>be</ERROR> want to <ERROR>se</ERROR> the glass market from the <ERROR>insis</ERROR> , not the <ERROR>outsed</ERROR> . 
mr. bodner declines to comment <ERROR>onn</ERROR> the arrangement . 
these vertically integrated combines , some of which got their start <ERROR>is</ERROR> japan 's feudal <ERROR>perend</ERROR> , deal globally in commodities , <ERROR>construcktion</ERROR> and <ERROR>manufactoring</ERROR> . 
<ERROR>a</ERROR> the sogo-shosha are looking for <ERROR>knew</ERROR> business , says arthur klauser , adviser to <ERROR>th</ERROR> president of mitsui , u.s.a. , using the <ERROR>japaneze</ERROR> term for the largest of the global trading houses . 
<ERROR>as</ERROR> host <ERROR>ovoe</ERROR> electronics firms in california 's silicon <ERROR>vally</ERROR> were financed <ERROR>wh</ERROR> trading-company venture capital . 
strategic objectives , <ERROR>ont</ERROR> financial return , drive many of the deals , says a venture economics spokesman . 
it 's the classic <ERROR>pobben</ERROR> of the small businessman , says malcolm davies , managing <ERROR>directer</ERROR> of trading alliance corp. of new york . 
they want assets , <ERROR>thar</ERROR> want <ERROR>are</ERROR> balance sheet , which <ERROR>his</ERROR> no relation to the business <num> a <ERROR>compy</ERROR> can generate . 
to the extent <num> they can <ERROR>no</ERROR> this , <ERROR>thy</ERROR> 're quite content to get a return on investment of <num> % to <num> % . 
sales by these subsidiaries in the fiscal year ending last march were <ERROR>mor</ERROR> than $ <num> billion . 
hudson general corp. 's <ERROR>presedent</ERROR> and <ERROR>cheif</ERROR> executive officer , alan j. stearn , resigned . 
a company spokesman declined to elaborate on <ERROR>these</ERROR> departure . 
mr. stearn , who had been with the company <ERROR>mooe</ERROR> than <num> years <ERROR>a</ERROR> had been <ERROR>presedent</ERROR> since <num> , <ERROR>wull</ERROR> act as a consultant to hudson general . 
for <num> years , genie driskill <ERROR>wot</ERROR> to <ERROR>here</ERROR> neighborhood bank because it was convenient . 
but in august , <ERROR>ferst</ERROR> atlanta national bank introduced its crown <ERROR>acount</ERROR> , <ERROR>the</ERROR> package designed <ERROR>tow</ERROR> lure customers <ERROR>suu</ERROR> as ms. driskill . 
all <num> <ERROR>the</ERROR> had to do was put $ in <ERROR>i</ERROR> certificate of deposit , or qualify for a $ personal line <ERROR>gf</ERROR> credit . 
she took her <ERROR>busness</ERROR> to first atlanta . 
for nearly <ERROR>i</ERROR> decade , banks <ERROR>fo</ERROR> competed <ERROR>in</ERROR> customers primarily with the <ERROR>inturest</ERROR> rates <num> they pay <ERROR>in</ERROR> their deposits and charge on their <ERROR>lones</ERROR> . 
but many banks are turning away from strict <ERROR>prise</ERROR> competition . 
<ERROR>your</ERROR> 're dead in the water <ERROR>is</ERROR> you are n't segmenting <ERROR>tie</ERROR> market , says anne moore , president of synergistics research corp. , a bank consulting firm in atlanta . 
the program not only offers <ERROR>an</ERROR> pre-approved car loan up to $ , but throws <ERROR>i</ERROR> a special cash-flow statement <num> to help in saving <ERROR>mooey</ERROR> . 
the theory : <ERROR>suh</ERROR> individuals , <ERROR>meney</ERROR> with <ERROR>yem</ERROR> children , <ERROR>ar</ERROR> in <ERROR>thier</ERROR> prime borrowing years and , having borrowed from the bank , they may continue to use it for other services <ERROR>if</ERROR> later <ERROR>yesars</ERROR> . 
those efforts are being <ERROR>steped</ERROR> up . 
varying <ERROR>ag</ERROR> , geography and life-style differences create numerous sub-markets , ms. macdonald says . 
an active 55-year-old in boca raton may care more about senior olympic games , while a 75-year-old <ERROR>it</ERROR> panama city may <ERROR>cear</ERROR> more about <ERROR>the</ERROR> seminar on health , she says . 
in <num> , wells fargo & co. <ERROR>oaf</ERROR> san francisco launched the gold account , which included <ERROR>fee</ERROR> checking , a <ERROR>creadit</ERROR> card , safe-deposit box <ERROR>i</ERROR> travelers checks for <ERROR>an</ERROR> $ <num> monthly fee . 
one big reason : thin margins . 
as banks ' earnings were squeezed <ERROR>it</ERROR> the mid-1970s , the emphasis switched to finding ways <num> to cut costs . 
they are better able <ERROR>th</ERROR> get to those segments in <ERROR>i</ERROR> wake of the deregulation that <ERROR>begain</ERROR> in the late 1970s . 
where <ERROR>an</ERROR> bank once offered a standard passbook savings <ERROR>acount</ERROR> , it <ERROR>begane</ERROR> offering money-market accounts , certificates of deposit and interest-bearing checking , and staggering rates <ERROR>basen</ERROR> on the size of deposits . 
today , a banker is <ERROR>worring</ERROR> about <ERROR>licele</ERROR> , regional and money-center -lcb- banks -rcb- , as well as thrifts and credit unions , says ms. moore <ERROR>an</ERROR> synergistics research . 
the competition has cultivated a much savvier <ERROR>consummer</ERROR> . 
this much fragmentation makes attracting and keeping today 's rate-sensitive customers costly . 
for their <ERROR>trubbles</ERROR> , the banks <ERROR>geat</ERROR> a larger captive audience that is less likely to move at <ERROR>thee</ERROR> drop of a <ERROR>rait</ERROR> . 
that can pay off <ERROR>don</ERROR> the road as customers , especially the younger <ERROR>one</ERROR> , change from borrowers to savers\/investors . 
<ERROR>that</ERROR> additional technology , personnel <ERROR>trying</ERROR> and promotional effort can be <ERROR>expansive</ERROR> . 
<ERROR>is</ERROR> 's not easy <ERROR>th</ERROR> roll out <ERROR>somthing</ERROR> that comprehensive , and make it <ERROR>pae</ERROR> , mr. jacob says . 
these days , banking customers walk in <ERROR>th</ERROR> door expecting you <ERROR>th</ERROR> have a <ERROR>packege</ERROR> especially for them , ms. moore says . 
first union , he says <num> , now has packages for seven customer groups . 
says mr. sale : i <ERROR>tink</ERROR> <num> more banks are <ERROR>staring</ERROR> to <ERROR>rilise</ERROR> that we have <ERROR>th</ERROR> be more <ERROR>lekt</ERROR> the department store , not the boutique . 
sharedata inc. said <num> <ERROR>il</ERROR> will amend a registration statement filed with the securities and exchange commission to delete a plan to <ERROR>selle</ERROR> newly <ERROR>isued</ERROR> common shares . 
currently , sharedata has about million common shares outstanding . 
five things <num> you <ERROR>con</ERROR> do for $ or less : 
<num> . take <ERROR>i</ERROR> hawaiian vacation . 
<num> . <ERROR>by</ERROR> a diamond necklace . 
americans today spend $ like <ERROR>poket</ERROR> change they do n't <ERROR>thingk</ERROR> much about <ERROR>its</ERROR> . 
your $ will help <ERROR>kept</ERROR> a needy savings and loan solvent and out of the federal budget deficit . 
<ERROR>lick</ERROR> healthy regulatory <ERROR>capitol</ERROR> . 
performing loans . 
as a foster corporate parent , you will experience the <ERROR>sam</ERROR> joy felt <ERROR>buy</ERROR> robert bass , lewis ranieri , william simon and others , <ERROR>hoo</ERROR> find ways <num> to <ERROR>halp</ERROR> troubled savings institutions and <ERROR>thrir</ERROR> employees help themselves . 
do n't wait a savings <ERROR>instution</ERROR> needs your help <ERROR>no</ERROR> ! 
<ERROR>thinck</ERROR> about the good <num> you can do for just $ a month , about the cost of <ERROR>an</ERROR> mid-size chevrolet or two <ERROR>semisters</ERROR> at <ERROR>i</ERROR> state university . 
every $ <num> <ERROR>w</ERROR> send <ERROR>well</ERROR> go a long <ERROR>wye</ERROR> to boost sagging net worth and employee morale and keep your foster savings institution off the federal budget deficit ! 
the chicago mercantile exchange said <num> it plans to institute an <ERROR>addional</ERROR> circuit breaker aimed <ERROR>an</ERROR> stemming market slides . 
but <ERROR>t</ERROR> new york stock exchange chairman said <num> he does n't <ERROR>serport</ERROR> reinstating a <ERROR>collor</ERROR> on program trading , arguing <ERROR>thatt</ERROR> firms could <ERROR>geat</ERROR> around <ERROR>suh</ERROR> a limit . 
if the 20-point limit is triggered after p.m . chicago time , it would remain <ERROR>with</ERROR> effect until the normal close of trading at p.m . 
<ERROR>i</ERROR> exchange said <num> it <ERROR>desided</ERROR> <num> a new circuit breaker was needed following a <ERROR>revue</ERROR> of the tumultuous trading in stocks and stock-index futures on friday oct. <num> , when the dow jones industrials plunged <num> points and stock-index futures prices skidded as well . 
the merc said that its existing 30-minute , 12-point limit on s&p <num> stock-index futures trading -lrb- equal to about <num> points <ERROR>of</ERROR> the dow jones industrials -rrb- , <ERROR>weich</ERROR> was triggered oct. <num> , will remain in effect . 
but when <ERROR>th</ERROR> contract reopened , the subsequent flood <ERROR>afoh</ERROR> sell <ERROR>oders</ERROR> that <ERROR>quickley</ERROR> knocked the contract down <ERROR>ro</ERROR> the 30-point limit indicated that the intermediate <ERROR>limet</ERROR> of <num> points was needed to help keep stock and stock-index futures prices synchronized . 
all of the changes require regulatory approval , which <ERROR>it</ERROR> expected shortly . 
<ERROR>and</ERROR> final modification was made <ERROR>the</ERROR> the five-point opening limit <ERROR>of</ERROR> the contract . 
the limit lapses under current exchange rules if contracts trade <ERROR>abarth</ERROR> the <ERROR>limet</ERROR> price during the opening <num> minutes of trading . 
<ERROR>if</ERROR> said that firms could get around <ERROR>tehe</ERROR> collar by executing trades <ERROR>manualy</ERROR> . 
the program-trading issue is heating up on capitol hill as it is on wall street , <ERROR>anf</ERROR> several legislators <ERROR>what</ERROR> to grant <ERROR>these</ERROR> sec the <ERROR>pour</ERROR> to shut off the programs when trading becomes <ERROR>two</ERROR> volatile . 
a house aide suggested that mr. phelan was so vague and mushy that it was the kind <ERROR>ov</ERROR> meeting <ERROR>with</ERROR> people of all viewpoints could <ERROR>com</ERROR> out feeling <ERROR>go</ERROR> . 
markey said <num> we could have done this in <ERROR>publick</ERROR> because so <ERROR>lette</ERROR> sensitive <ERROR>imformation</ERROR> was disclosed , the aide said <num> . 
at another point during <ERROR>hte</ERROR> hearing , rep. markey asked mr. phelan what would <ERROR>de</ERROR> discussed <ERROR>att</ERROR> a <ERROR>tryal</ERROR> york exchange board meeting today . 
that response annoyed rep. markey , house aides said <num> , and the congressman snapped back that there had been enough studies of the issue and <ERROR>and</ERROR> it was time for action on the <ERROR>mather</ERROR> . 
mr. dingell expressed concern , <ERROR>sorces</ERROR> said <num> , about jurisdictional problems in regulating program trading , which uses futures to offset stock trades . 
<ERROR>thw</ERROR> art of change-ringing is peculiar to the english , and , like most english peculiarities , unintelligible to the rest <ERROR>ovot</ERROR> the world . 
aslacton , england 
<ERROR>t</ERROR> parishioners of st. michael and all angels stop to chat at the church <ERROR>dor</ERROR> , <ERROR>aas</ERROR> members <ERROR>har</ERROR> always have . 
but there is also a discordant , <ERROR>morden</ERROR> note in aslacton , though it ca n't be <ERROR>hurd</ERROR> by the church-goers enjoying <ERROR>to</ERROR> peal of bells this cool autumn evening . 
now , only one local ringer remains : 64-year-old derek hammond . 
they belong to a group of <num> ringers including two octogenarians and four youngsters <ERROR>im</ERROR> training who <ERROR>driv</ERROR> every sunday from church to church <ERROR>if</ERROR> a sometimes-exhausting effort to keep the bells sounding in the many belfries of east anglia . 
we 've tried to train the youngsters , but they <ERROR>hove</ERROR> their discos and their dances , and they just drift away . 
history , after all , is not on <ERROR>hes</ERROR> side . 
it is <ERROR>easily</ERROR> to <ERROR>se</ERROR> why the ancient art is on <ERROR>t</ERROR> ropes . 
change-ringing , a mind-boggling exercise <num> the english invented <num> years ago , <ERROR>requres</ERROR> physical dexterity some bells weigh more than <ERROR>and</ERROR> ton combined with intense mental concentration . 
then , at a signal , the ringers begin varying the order <ERROR>if</ERROR> which the bells <ERROR>sund</ERROR> without altering the steady rhythm of <ERROR>tehe</ERROR> striking . 
ringers memorize patterns of changes , known as methods , which have odd-sounding names like kent treble bob major or grandsire caters . 
<ERROR>the</ERROR> look at <ERROR>ah</ERROR> thursday night practice <ERROR>as</ERROR> st. mary abbot church in the kensington district of london gives an <ERROR>idear</ERROR> of the work involved . 
no one speaks , and the snaking of the ropes seems to <ERROR>mack</ERROR> as <ERROR>march</ERROR> sound <ERROR>hase</ERROR> the bells themselves , muffled by the ceiling . 
far above in the belfry , the <ERROR>hyge</ERROR> bronze bells , mounted <ERROR>onn</ERROR> wheels , swing madly through a full <num> degrees , <ERROR>startin</ERROR> and ending , surprisingly , in <ERROR>thw</ERROR> inverted , or mouth-up position . 
in a well-known detective-story <ERROR>invlving</ERROR> church bells , <ERROR>inglish</ERROR> novelist dorothy l. sayers described ringing as a passion -lcb- that -rcb- finds its satisfaction <ERROR>with</ERROR> mathematical completeness and mechanical perfection . 
ringing <ERROR>dus</ERROR> become <ERROR>i</ERROR> bit of <ERROR>am</ERROR> obsession , admits stephanie pattenden , master of the band at st. mary abbot and one of england 's best female ringers . 
more often <ERROR>then</ERROR> not , ringers think of the church as <ERROR>somethig</ERROR> stuck on <ERROR>hte</ERROR> bottom of <ERROR>tie</ERROR> belfry . 
this does not <ERROR>sat</ERROR> well with <ERROR>same</ERROR> clerics . 
two years <ERROR>go</ERROR> , the rev. jeremy hummerstone , vicar of great torrington , devon , <ERROR>gat</ERROR> so fed up with ringers who did n't attend service <num> he sacked the <ERROR>intire</ERROR> band ; the ringers promptly set up a picket line <ERROR>if</ERROR> protest . 
an entirely new band rings today at great torrington , <ERROR>severeal</ERROR> of <ERROR>whome</ERROR> are members of the congregation . 
at st. mary 's church in ilminster , somerset , the bells have fallen silent following a dust-up over <ERROR>cherch</ERROR> attendance . 
but c.j.b. marshall , vicar of a nearby church , feels <num> the fault is in the <ERROR>steres</ERROR> from the bell tower <ERROR>dat</ERROR> are located next to the altar . 
vicar marshall admits to <ERROR>mixpet</ERROR> feelings about this <ERROR>isue</ERROR> , since he is both a vicar and an active bell-ringer himself . 
i live in hopes that the ringers themselves <ERROR>wull</ERROR> be drawn into that fuller <ERROR>lefe</ERROR> . 
it hopes <ERROR>of</ERROR> speak to <ERROR>studens</ERROR> at theological colleges about the joys of bell ringing and will shortly publish a booklet for <ERROR>evry</ERROR> vicar in <ERROR>i</ERROR> country entitled , the bells <ERROR>if</ERROR> your <ERROR>cerer</ERROR> . 
mr. baldwin <ERROR>in</ERROR> also attacking the greater problem : lack of ringers . 
also , ringers <ERROR>dou</ERROR> n't always live <ERROR>whrer</ERROR> the bells <ERROR>nead</ERROR> to be rung like in small , rural parishes and inner-city churches . 
<ERROR>rigth</ERROR> now , we 're lucky <ERROR>it</ERROR> after five years we <ERROR>cep</ERROR> one <ERROR>naw</ERROR> ringer out of <num> , he adds . 
they are n't accepted everywhere , however . 
this <ERROR>bi</ERROR> britain , no woman has filed <ERROR>and</ERROR> equal-opportunity suit , but the extent of the problem surfaced this summer <ERROR>im</ERROR> a series of letters to the ringing world , <ERROR>and</ERROR> weekly newspaper for ringers . 
in the torrent of replies that followed , one woman ringer from solihull observed that the average male ringer leaves quite a <ERROR>lost</ERROR> <num> to be desired : badly dressed , decorated with acne and a large beer-belly , frequently unwashed and unbearably flatulent in peals . 
<ERROR>if</ERROR> have seen one <ERROR>of</ERROR> two <ERROR>man</ERROR> die , bless them . 
that has been particularly true this year with many companies <ERROR>rasing</ERROR> their payouts <ERROR>mooe</ERROR> than <num> % . 
<ERROR>i</ERROR> the past , they say <num> , the strongest dividend <ERROR>groth</ERROR> has often come at <ERROR>tims</ERROR> when <ERROR>i</ERROR> stock-market <ERROR>parte</ERROR> was almost over . 
strong dividend growth , he says <num> , is the black widow of valuation a reference to the <ERROR>femail</ERROR> spiders that attract males and <ERROR>the</ERROR> kill them after mating . 
invariably , those strong periods in the economy <ERROR>gav</ERROR> way <ERROR>too</ERROR> recessionary environments , he says . 
indeed , analysts say that payouts have <ERROR>sumtimes</ERROR> risen most sharply <ERROR>wian</ERROR> prices were <ERROR>allready</ERROR> on their way down from cyclical peaks . 
the s&p index started sliding in price <ERROR>is</ERROR> september <num> , <ERROR>ane</ERROR> fell <num> % in <num> despite <ERROR>the</ERROR> <num> % <ERROR>expanion</ERROR> in dividends that year . 
payouts on the s&p <num> stocks rose <num> % in <num> , according to standard & poor 's corp. , and wall street estimates for <num> growth are <ERROR>generaly</ERROR> between <num> % and <num> % . 
meanwhile , many market watchers say <num> recent <ERROR>divident</ERROR> trends raise another warning flag : while dividends <ERROR>of</ERROR> risen smartly , their expansion has n't kept pace with even stronger advances in stock prices . 
put another way , the decline in <ERROR>that</ERROR> yield suggests <num> stocks <ERROR>haven</ERROR> gotten pretty <ERROR>rick</ERROR> in price relative to the dividends <num> they pay , some market analysts <ERROR>said</ERROR> <num> . 
the figure <ERROR>his</ERROR> currently about % , up from % before <ERROR>tu</ERROR> recent market slide . 
<ERROR>an</ERROR> drop below that <num> % benchmark has always been <ERROR>the</ERROR> strong warning sign that stocks are fully valued , says <num> mr. boesel of t. rowe price . 
always . 
<ERROR>these</ERROR> last time <num> the s&p <num> <ERROR>yeild</ERROR> dropped below <num> % was in the <ERROR>sumer</ERROR> of <num> . 
there have <ERROR>bein</ERROR> only seven other times in <num> , <num> , <num> , <num> , <num> , <num> and <num> when the yield <ERROR>in</ERROR> the s&p <num> dropped <ERROR>belowe</ERROR> <num> % for at <ERROR>lest</ERROR> two consecutive months , mr. perritt <ERROR>faud</ERROR> <num> . 
still , some market analysts say <num> <ERROR>an</ERROR> current % reading <ERROR>his</ERROR> n't as <ERROR>troblernsom</ERROR> as it <ERROR>mit</ERROR> have been in years past . 
in <ERROR>ptylas</ERROR> , mr. coxon says <num> , businesses are paying out a <ERROR>smoler</ERROR> percentage of their profits <ERROR>i</ERROR> cash flow in the form <ERROR>off</ERROR> dividends <ERROR>then</ERROR> they have historically . 
rather <ERROR>then</ERROR> increasing dividends , some companies have used cash to buy back <ERROR>so</ERROR> of their shares , <ERROR>nots</ERROR> <num> steven g. einhorn , co-chairman of <ERROR>to</ERROR> investment policy committee <ERROR>an</ERROR> goldman , sachs & co . 
that is just a tad below the average of the past <num> years or so , he says <num> . 
common wisdom <ERROR>sugests</ERROR> a single-digit rate of <ERROR>grouth</ERROR> , reflecting a weakening in <ERROR>tehe</ERROR> economy and <ERROR>corparate</ERROR> profits . 
in <ERROR>over</ERROR> years in which there have been moderate economic slowdowns the <ERROR>invironment</ERROR> <num> the <ERROR>ferm</ERROR> expects in <num> the <ERROR>chang</ERROR> in dividends ranged from a gain <ERROR>gf</ERROR> <num> % to <ERROR>are</ERROR> decline of <num> % , according to painewebber analyst thomas doerflinger . 
dividend <ERROR>grouth</ERROR> on <ERROR>they</ERROR> order of <num> % is expected by both mr. coxon of cigna <ERROR>an</ERROR> mr. einhorn of goldman sachs . 
one indicator <num> investors might want to watch is the monthly tally <ERROR>fou</ERROR> standard & poor 's <ERROR>onet</ERROR> the <ERROR>numbers</ERROR> of public companies adjusting <ERROR>the</ERROR> dividends . 
that followed four straight months in which the number of increases trailed the year-earlier pace . 
in <ERROR>neny</ERROR> case , opinion is <ERROR>mixt</ERROR> on how much <ERROR>off</ERROR> a boost the overall stock market would get even if dividend growth continues at double-digit <ERROR>levals</ERROR> . 
<ERROR>by</ERROR> mr. boesel of t. rowe <ERROR>prise</ERROR> , <ERROR>onelhelh</ERROR> also expects <num> % growth in dividends next year , does n't think <num> it will <ERROR>halp</ERROR> the overall market all that much . 
with slower economic growth and flat corporate earnings likely next year , <ERROR>iy</ERROR> would n't look <ERROR>fror</ERROR> the market <ERROR>of</ERROR> have <ERROR>mush</ERROR> upside from <ERROR>curent</ERROR> levels . 
such is hardly the case . 
<ERROR>ths</ERROR> is where <ERROR>ball</ERROR> 's patents went . 
it acquired thomas edison 's microphone patent and <ERROR>than</ERROR> immediately sued the <ERROR>ball</ERROR> co. claiming that the microphone invented by my <ERROR>grandfarther</ERROR> , emile berliner , <ERROR>weich</ERROR> had been sold to bell for a princely $ , infringed upon western union 's edison patent . 
oliver berliner beverly hills , calif . 
the ailing company , which has reported net losses for <num> consecutive quarters , said <num> it wo n't <ERROR>manafacture</ERROR> network computer systems any <ERROR>mooe</ERROR> and <ERROR>with</ERROR> greatly reduce <ERROR>it</ERROR> costly direct sales force . 
<ERROR>tu</ERROR> company 's <ERROR>werk</ERROR> force will <ERROR>fal</ERROR> to about <num> people . 
<ERROR>furhter</ERROR> , he said <num> , the company <ERROR>dose</ERROR> n't have the capital needed to <ERROR>biuld</ERROR> the <ERROR>busness</ERROR> over <ERROR>a</ERROR> next year or two . 
<ERROR>when</ERROR> had to do something structurally and <ERROR>radiaclly</ERROR> different . 
<ERROR>tie</ERROR> company currently offers a word-processing package for personal computers called legend . 
in <ERROR>knew</ERROR> york <ERROR>stark</ERROR> exchange composite trading yesterday , nbi common closed at <num> cents a <ERROR>shair</ERROR> , up <num> cents . 
but the former u.s. president 's <ERROR>six</ERROR> visit to china , during which he spoke at length with chinese leaders , was nowhere <ERROR>ner</ERROR> as successful at easing strains that <ERROR>haf</ERROR> recently afflicted the sino-u.s. relationship . 
the chinese , <ERROR>it</ERROR> turn , <ERROR>toke</ERROR> aim at american interference in china 's domestic affairs . 
the <ERROR>papr</ERROR> accused <ERROR>he</ERROR> of being <ERROR>as</ERROR> leading proponent of peaceful evolution , a <ERROR>can</ERROR> phrase <num> <ERROR>tow</ERROR> describe <ERROR>want</ERROR> china believes <num> is <ERROR>i</ERROR> policy of western countries <ERROR>the</ERROR> seduce socialist nations into the capitalist sphere . 
instead , mr. nixon reminded his host , chinese president yang shangkun , that americans have n't forgiven china 's leaders for the military assault of june that killed hundreds , and perhaps thousands , of demonstrators . 
the events <ERROR>afoh</ERROR> april through june damaged the respect and confidence which <ERROR>moast</ERROR> americans previously had for the leaders of china . 
in talks <ERROR>wif</ERROR> mr. nixon , chinese leaders expressed no regret for <ERROR>thee</ERROR> killings , and <ERROR>oven</ERROR> suggested that <ERROR>tu</ERROR> u.s. was prominently involved in the demonstrations <ERROR>ths</ERROR> spring . 
china <ERROR>wase</ERROR> the real victim and it is unjust to reprove china for it . 
in his return toast <ERROR>tow</ERROR> mr. nixon , mr. yang <ERROR>seiad</ERROR> <num> the relationship had reached a stalemate . 
shortly afterwards , mr. bush imposed a series of anti-china sanctions , including suspension <ERROR>ove</ERROR> most high-level talks , <ERROR>with</ERROR> could be codified in u.s. congressional legislation <ERROR>im</ERROR> the <ERROR>comeing</ERROR> weeks . 
mr. nixon met mr. bush and <ERROR>its</ERROR> national <ERROR>secruitey</ERROR> adviser , brent scowcroft , before coming to china <ERROR>onn</ERROR> saturday . 
mr. nixon was <ERROR>of</ERROR> leave china today . 
these included china 's economic policies , human rights and the question <ERROR>onet</ERROR> mr. fang . 
china pulled out of <ERROR>thee</ERROR> program in <ERROR>jaly</ERROR> . 
ideas <ERROR>rae</ERROR> going over borders , and there 's <ERROR>know</ERROR> sdi ideological weapon that <ERROR>came</ERROR> shoot them down , <ERROR>him</ERROR> told a group <ERROR>cift</ERROR> americans at the u.s. embassy <ERROR>in</ERROR> wednesday . 
but in one minor <ERROR>mater</ERROR> , mr. nixon appears to <ERROR>hove</ERROR> gained a concession . 
sure enough , when he <ERROR>arived</ERROR> at <ERROR>i</ERROR> embassy two <ERROR>das</ERROR> later , the machine-gun-toting guards were gone for <ERROR>these</ERROR> first time in five months . 
but the <ERROR>geurds</ERROR> there retained their pistols , <ERROR>anf</ERROR> a <ERROR>lagre</ERROR> contingent of plainclothes police remained nearby in unmarked cars . 
several times , chinese guards have pointed <ERROR>ther</ERROR> automatic rifles <ERROR>an</ERROR> young children of u.s. diplomats and clicked the trigger . 
your oct. <num> article japan 's financial firms lure science graduates states , industrial <ERROR>companys</ERROR> are accusing financial institutions of jeopardizing japan 's economy by raising <ERROR>thee</ERROR> salary stakes <ERROR>frou</ERROR> new employees . 
<ERROR>thah</ERROR> are barking up the wrong tree , because it is basically their <ERROR>falt</ERROR> <num> they ca n't attract new <ERROR>emplaryes</ERROR> . 
he <ERROR>it</ERROR> just <ERROR>pasing</ERROR> the buck to young people . 
money is not everything , but it is necessary , and <ERROR>bussiness</ERROR> is not volunteer work . 
unfortunately , japanese manufacturers have <ERROR>neather</ERROR> good working conditions nor <ERROR>gowed</ERROR> compensation packages . 
i visited <ERROR>are</ERROR> lot of major japanese manufacturers , but i never felt <num> i would want to be employed by <ERROR>ane</ERROR> of them . 
<ERROR>is</ERROR> the japanese companies are seriously considering <ERROR>they</ERROR> survival , they could <ERROR>dowe</ERROR> at least <ERROR>thee</ERROR> things to improve <ERROR>th</ERROR> situation : raise <ERROR>salarys</ERROR> higher than those of financial institutions ; improve working <ERROR>condse</ERROR> -lrb- better offices and more vacations , for example -rrb- ; accept <ERROR>so</ERROR> hire more labor from outside japan . 
in reference to <ERROR>yere</ERROR> oct. <num> page-one article barbara bush earns even higher ratings than <ERROR>tehe</ERROR> president , it is regrettable that you <ERROR>mus</ERROR> continually define blacks by our negatives : among liberals , <num> % have positive views of her , <ERROR>wilh</ERROR> <num> % <ERROR>aprove</ERROR> of <ERROR>i</ERROR> president 's job performance . 
among professionals , <num> % have <ERROR>and</ERROR> favorable opinion of <ERROR>he</ERROR> , compared <ERROR>th</ERROR> <num> % <ERROR>woth</ERROR> approve of her husband 's performance . 
<ERROR>tu</ERROR> statistics imply that three-quarters <ERROR>op</ERROR> blacks approve of mr. <ERROR>buch</ERROR> 's job performance and <num> % of blacks approve <ERROR>off</ERROR> mrs. <ERROR>buch</ERROR> . 
such <ERROR>on</ERROR> editorial point of view perpetuates an insidious , stereotyped perspective . 
preston g. foster birmingham , ala . 
<ERROR>tow</ERROR> firms <ERROR>wer</ERROR> expelled from the nasd , three <ERROR>wont</ERROR> suspended or barred and nine were fined . 
<ERROR>allso</ERROR> , mr. vargas was barred from association with any nasd member . 
a telephone-information operator <ERROR>have</ERROR> no listing for either party . 
<ERROR>allso</ERROR> , mr. otero was barred <ERROR>fome</ERROR> association with any nasd member . 
mr. otero , who apparently has <ERROR>a</ERROR> unpublished <ERROR>numbeer</ERROR> , also could n't <ERROR>pe</ERROR> reached . 
biscayne has n't <ERROR>eamy</ERROR> telephone listing , an operator said <num> . 
triton securities , of danville , calif. , <ERROR>so</ERROR> a principal of <ERROR>hte</ERROR> firm , delwin george chase , also <ERROR>off</ERROR> danville , were jointly fined $ <ERROR>aand</ERROR> given 30-day suspensions as part of a settlement . 
officials <ERROR>ofr</ERROR> triton could n't be reached for comment . 
crane & co. securities inc. , of mount clemens , mich. , and its <ERROR>presedent</ERROR> , glenn r. crane , <ERROR>ove</ERROR> sterling heights , mich. , consented <ERROR>the</ERROR> a joint fine of $ . 
mr. crane did n't return a <ERROR>coll</ERROR> seeking comment . 
<ERROR>aso</ERROR> , mr. canepa received a two-week suspension <ERROR>is</ERROR> a principal capacity . 
mr. canepa confirmed <num> he had consented to the sanctions but declined to comment <ERROR>farther</ERROR> . 
without admitting or <ERROR>denyin</ERROR> wrongdoing , they consented to findings that <ERROR>the</ERROR> failed to return funds owed <ERROR>tow</ERROR> customers in connection <ERROR>wiht</ERROR> a limited-partnership offering . 
he described the situation as an escrow problem , a timing issue , which <ERROR>him</ERROR> said <num> was rapidly rectified , with no <ERROR>lesses</ERROR> to <ERROR>costomer</ERROR> . 
the <ERROR>ferm</ERROR> and mr. whelen allegedly sold securities to the public at unfair prices , <ERROR>amoung</ERROR> other alleged violations . 
the <ERROR>fern</ERROR> and the nasd differ <ERROR>ower</ERROR> the meaning of markup and markdown , he added <num> . 
without admitting or <ERROR>denyin</ERROR> wrongdoing , the firm consented to findings that it <ERROR>faild</ERROR> to respond in <ERROR>the</ERROR> timely manner to the nasd 's requests for information in connection with a customer complaint . 
the following individuals were fined as indicated and barred from association with nasd members , or , <ERROR>hwere</ERROR> noted , suspended . 
andrew derel adams , killeen , texas , fined $ ; john francis angier jr. , reddington shores , fla. , $ ; mark anthony , arlington heights , ill. , $ and 30-day suspension ; william stirlen , arlington heights , ill. , $ and 30-day suspension ; fred w. bonnell , boulder , colo. , $ and six-month suspension ; michael j. boorse , horsham , pa. ; david chiodo , dallas , $ , barred as a principal ; camille chafic cotran , london , $ ; john william curry , fined $ , ordered to disgorge $ , one-year suspension . 
mr. felten said , we got what amounted to a parking ticket , <ERROR>than</ERROR> by <ERROR>complanig</ERROR> about it , <ERROR>were</ERROR> ended up with a sizable fine and suspension . 
victor stanley fishman , longwood , fla. , fined $ ; william harold floyd , houston , $ ; michael anthony houston , bronx , n.y. , $ ; amin jalaalwalikraam , glenham , n.y. , $ ; richard f. knapp , london , $ and 30-day suspension ; deborah renee martin , st. louis , $ ; joseph francis muscolina jr. , palisades park , n.j. , $ ; robert c. najarian , brooklyn park , minn. , $ ; edward robert norwick , nesconset , n.y. , $ . 
<ERROR>tie</ERROR> following were neither barred <ERROR>nore</ERROR> suspended : stephanie veselich enright , rolling hills , calif. , fined $ and ordered to disgorge $ ; stuart lane russel , glendale , calif. , fined $ and ordered to disgorge $ ; devon nilson dahl , fountain <ERROR>vallie</ERROR> , calif. , fined $ . 
<ERROR>insurence</ERROR> agents have been forced by their <ERROR>companys</ERROR> into becoming registered reps , he said , <ERROR>byt</ERROR> they are not providing compliance <ERROR>than</ERROR> security-type <ERROR>trying</ERROR> so that we can avoid <ERROR>stupied</ERROR> mistakes . 
i was n't ever actively engaged in any securities activities , said mr. cutrer . 
it <ERROR>wan</ERROR> just a stupid <ERROR>misstake</ERROR> to get the license , he said <num> , adding , i 'd just as soon not <ERROR>git</ERROR> into details <ERROR>ov</ERROR> the <ERROR>settelment</ERROR> . 
but in london and tokyo , where computer-driven trading now plays a small but growing role , traders say <num> a number of hurdles loom . 
japan is very concerned about the possible effects <ERROR>afoh</ERROR> program trading , a senior japanese official said <num> after the oct. <num> stock plunge in new york . 
and because of the <ERROR>tiem</ERROR> difference , the japanese and the u.s. markets ' trading <ERROR>houres</ERROR> do n't overlap . 
about % of <ERROR>a</ERROR> program trading by new york stock <ERROR>excange</ERROR> firms <ERROR>it</ERROR> september <ERROR>tok</ERROR> place in foreign markets , according to <ERROR>dig</ERROR> board <ERROR>datter</ERROR> . 
japan 's finance ministry already is scrutinizing institutional investors ' activity to <ERROR>se</ERROR> whether <ERROR>pilicy</ERROR> changes are needed to cope with <ERROR>tie</ERROR> current level <ERROR>with</ERROR> program trading , said <num> makato utsumi , vice minister for international finance . 
but regulators are wary . 
japan 's finance ministry <ERROR>hut</ERROR> set up mechanisms <num> to limit <ERROR>hou</ERROR> far futures prices could <ERROR>fal</ERROR> in a single session and to give market operators the <ERROR>athority</ERROR> to suspend trading in futures at <ERROR>enny</ERROR> time . 
japan 's regulators have since tightened controls on index-related <ERROR>stark</ERROR> purchases . 
<ERROR>same</ERROR> u.s. firms , notably salomon inc. and morgan stanley group inc. , <ERROR>hove</ERROR> reaped a hefty chunk of their japanese earnings from index arbitrage , both for <ERROR>custormester</ERROR> and <ERROR>of</ERROR> their own accounts . 
both deryck c. maughan , <ERROR>whoy</ERROR> heads salomon in tokyo , and john s. wadsworth , <ERROR>woh</ERROR> heads morgan stanley there , ascribe a good <ERROR>pard</ERROR> of their firms ' <ERROR>succes</ERROR> in tokyo to their ability to offer sophisticated , futures-related investment strategies <ERROR>two</ERROR> big institutional clients . 
it has not been disruptive in the markets here , mr. maughan said . 
the british also <ERROR>arte</ERROR> scrutinizing program trades . 
we do n't <ERROR>thingk</ERROR> <num> there is cause for <ERROR>consern</ERROR> at <ERROR>th</ERROR> moment . 
market professionals said <num> london has several attractions . 
second , it can be used to unwind positions before u.s. trading begins , but at prices pegged to the previous session 's big board close . 
still , much less -lcb- index-arbitrage activity -rcb- is done over here than in the u.s. <ERROR>sead</ERROR> <num> richard barfield , chief investment manager at standard <ERROR>lif</ERROR> assurance co. , which manages <ERROR>aboat</ERROR> # <num> billion -lrb- $ billion -rrb- <ERROR>with</ERROR> united kingdom institutional funds . 
a financial times-stock <ERROR>excange</ERROR> 100-share index option contract <ERROR>as</ERROR> traded on the london stock exchange 's traded options market . 
both contracts have gained a following <ERROR>scince</ERROR> the <num> global market crash . 
<ERROR>thhis</ERROR> year , the <ERROR>avarage</ERROR> of daily contracts traded totaled , up from a year earlier and from <num> in <num> . 
this compares with estimates that <ERROR>tu</ERROR> u.s. derivatives market is perhaps four <ERROR>time</ERROR> as large as the underlying domestic market . 
the vote came after <ERROR>the</ERROR> debate replete with complaints <ERROR>frrom</ERROR> both proponents and critics of a substantial <ERROR>incress</ERROR> in the wage floor . 
but <ERROR>thi</ERROR> legislation reflected a compromise agreed <ERROR>the</ERROR> on <ERROR>tusday</ERROR> by president bush and democratic leaders in congress , <ERROR>afert</ERROR> congressional republicans urged the white house to <ERROR>band</ERROR> a <ERROR>bite</ERROR> from <ERROR>it</ERROR> previous resistance to compromise . 
<ERROR>andr</ERROR> the <ERROR>mesure</ERROR> passed yesterday , <ERROR>that</ERROR> minimum wage would rise to $ next april . 
there <ERROR>rau</ERROR> no smiles <ERROR>abelt</ERROR> this bill , rep. pat williams -lrb- d. , mont . -rrb- <ERROR>sid</ERROR> during <ERROR>hosen</ERROR> floor debate yesterday . 
<ERROR>wile</ERROR> the <ERROR>minumend</ERROR> wage <ERROR>av</ERROR> traditionally been pegged at <ERROR>hailf</ERROR> the average u.s. manufacturing wage , the <ERROR>levall</ERROR> of $ an hour in <num> will still <ERROR>pe</ERROR> less <ERROR>that</ERROR> <num> % of average <ERROR>factr</ERROR> pay , mr. williams said <num> . 
adopting a training-wage policy means getting beyond the nickel <ERROR>aand</ERROR> diming of the <ERROR>minium</ERROR> wage , mrs. roukema said <num> . 
labor unions and democrats long <ERROR>fort</ERROR> the idea , but recently acceded to it in the face of bush administration insistence . 
employers can pay the subminimum for <num> <ERROR>das</ERROR> , without restriction , to <ERROR>work</ERROR> with <ERROR>lase</ERROR> than <ERROR>sex</ERROR> months <ERROR>oaf</ERROR> job experience , <ERROR>than</ERROR> for another <num> days <ERROR>is</ERROR> the company uses <ERROR>are</ERROR> government-certified training program for the young workers . 
<ERROR>an</ERROR> white <ERROR>hous</ERROR> previously insisted on <ERROR>a</ERROR> unrestricted six-month training wage that <ERROR>cood</ERROR> be paid any time <num> <ERROR>as</ERROR> worker of any age <ERROR>tok</ERROR> a new job . 
zenith <ERROR>dat</ERROR> systems corp. , a subsidiary of <ERROR>zeenith</ERROR> electronics corp. , <ERROR>recivd</ERROR> a $ <num> <ERROR>millon</ERROR> navy contract for <ERROR>sofware</ERROR> and services of microcomputers over <ERROR>a</ERROR> 84-month <ERROR>perend</ERROR> . 
martin marietta corp. was given a $ million air force contract for low-altitude navigation and targeting <ERROR>equipmant</ERROR> . 
for six years , t. marshall hahn jr. has made corporate acquisitions in the george bush mode : <ERROR>kindly</ERROR> and gentle . 
mr. hahn , the 62-year-old chairman <ERROR>so</ERROR> chief <ERROR>exectutive</ERROR> officer of georgia-pacific corp. <ERROR>it</ERROR> leading the forest-product concern 's unsolicited $ billion <ERROR>bed</ERROR> for great northern nekoosa corp . 
<ERROR>sor</ERROR> far , mr. hahn is trying <ERROR>ro</ERROR> entice nekoosa <ERROR>in</ERROR> negotiating a <ERROR>friendy</ERROR> surrender while <ERROR>talkig</ERROR> tough . 
but <ERROR>i</ERROR> takeover <ERROR>batle</ERROR> opens up the possibility of a bidding war , with <ERROR>at</ERROR> <num> that implies . 
given that choice , associates of mr. hahn and industry observers say <num> the former university <ERROR>presedent</ERROR> who has developed a <ERROR>reprotation</ERROR> for not overpaying <ERROR>fre</ERROR> anything would fold . 
says long-time associate jerry griffin , vice president , <ERROR>corparate</ERROR> development , at wtd industries inc. : <ERROR>here</ERROR> is n't of <ERROR>hte</ERROR> old <ERROR>schooll</ERROR> of winning <ERROR>att</ERROR> any cost . 
<ERROR>a</ERROR> decision <ERROR>tow</ERROR> make <ERROR>an</ERROR> bid <ERROR>fror</ERROR> nekoosa , for example , was made only after all <ERROR>sex</ERROR> members of georgia-pacific 's management committee signed onto the deal even <ERROR>tho</ERROR> mr. hahn <ERROR>new</ERROR> <num> he wanted to go <ERROR>aftere</ERROR> the company early on , says <num> mr. correll . 
assuming that <ERROR>past</ERROR> at the age of <num> , he managed <ERROR>bery</ERROR> consensus , as is the rule in universities , says <num> warren h. strother , a university official who is researching <ERROR>and</ERROR> book on mr. hahn . 
<ERROR>with</ERROR> <num> , mr. hahn <ERROR>calld</ERROR> in state police <ERROR>two</ERROR> arrest student protesters who were occupying <ERROR>an</ERROR> university building . 
in <num> , mr. pamplin enticed mr. hahn into joining the company as executive vice president <ERROR>if</ERROR> charge <ERROR>ov</ERROR> chemicals ; the move befuddled many <ERROR>i</ERROR> georgia-pacific who did n't <ERROR>belive</ERROR> <num> a university administrator <ERROR>coud</ERROR> make the transition to <ERROR>tehe</ERROR> corporate world . 
the son <ERROR>or</ERROR> a physicist , mr. hahn skipped first grade <ERROR>bcouse</ERROR> his reading ability was <ERROR>slow</ERROR> far <ERROR>abou</ERROR> his classmates . 
he earned his doctorate in nuclear physics from <ERROR>they</ERROR> massachusetts institute of technology . 
they call it photographic . 
taking over as chief <ERROR>exectutive</ERROR> officer in <num> , <ERROR>him</ERROR> inherited a company <ERROR>haen</ERROR> was mired in debt <ERROR>so</ERROR> hurt by a recession-inspired slide in its building-products business . 
he even sold one unit <ERROR>tat</ERROR> made vinyl checkbook covers . 
the idea was to buffet building <ERROR>produts</ERROR> from cycles in new-home construction . 
georgia-pacific 's sales climbed <ERROR>two</ERROR> $ billion last year , compared with $ <num> billion in <num> , <ERROR>wane</ERROR> mr. hahn took the reins . 
mr. hahn attributes the gains to the philosophy of concentrating on what <ERROR>are</ERROR> company knows best . 
nekoosa would n't be a diversification . 
the resulting company would be the largest forest-products concern in <ERROR>t</ERROR> world with combined sales of <ERROR>mor</ERROR> than $ <num> billion . 
in this <ERROR>instants</ERROR> , <ERROR>inslye</ERROR> observers say <num> , he is entering uncharted waters . 
a house-senate conference approved major portions <ERROR>af</ERROR> a <ERROR>pakage</ERROR> for <ERROR>mor</ERROR> than $ <num> million <ERROR>it</ERROR> economic aid for poland that relies heavily on $ <num> million in credit and loan guarantees in fiscal <num> in hopes of stimulating future trade and investment . 
the conference approved at least $ <num> million <ERROR>with</ERROR> direct cash and development assistance as well , <ERROR>an</ERROR> though <ERROR>know</ERROR> decision was <ERROR>mame</ERROR> , both sides are committed <ERROR>th</ERROR> adding more than $ <num> million in <ERROR>ecomonic</ERROR> support funds and environmental initiatives sought by the bush <ERROR>addministration</ERROR> . 
<ERROR>thees</ERROR> fiscal pressures are also a <ERROR>facter</ERROR> in shaping the poland package , and while <ERROR>mooe</ERROR> ambitious authorizing legislation is still pending , the appropriations bill in conference <ERROR>wull</ERROR> be more decisive on u.s. aid to eastern europe . 
<ERROR>so</ERROR> though <ERROR>t</ERROR> size of the loan guarantees approved yesterday is significant , recent experience with a similar program in central america indicates that it could take several years before the new polish <ERROR>grovment</ERROR> can fully use the <ERROR>ade</ERROR> effectively . 
the house and senate <ERROR>re</ERROR> divided over whether the united nations population fund will receive any portion of <ERROR>this</ERROR> appropriations , but the size of <ERROR>t</ERROR> increase is itself significant . 
<ERROR>my</ERROR> sweeping <ERROR>m</ERROR> of the <ERROR>bell</ERROR> draws a variety of special interest amendments , running from an import exemption for <ERROR>are</ERROR> california airplane museum to a <ERROR>smal</ERROR> but intriguing struggle among sugar <ERROR>prodi</ERROR> nations over the fate of panama 's quota of exports to the profitable u.s. market . 
<ERROR>abought</ERROR> a quarter <ERROR>ov</ERROR> this share has already been reallocated , according to <ERROR>hte</ERROR> industry , but <ERROR>tie</ERROR> remaining tons are still a lucrative target for growers because the current u.s. price of <num> cents <ERROR>and</ERROR> pound runs as <ERROR>must</ERROR> as a nickel a pound above the world rate . 
rep. jerry lewis , a conservative californian , added a provision of his own intended <ERROR>ro</ERROR> assist bolivia , and <ERROR>thee</ERROR> senate then broadened the <ERROR>lits</ERROR> further <ERROR>bery</ERROR> including all countries in the u.s. caribbean basin initiate <ERROR>was</ERROR> well as the philippines - backed <ERROR>bery</ERROR> the powerful hawaii democrat sen. daniel inouye . 
in separate floor action , the house waived budget restrictions and <ERROR>gav</ERROR> quick <ERROR>aproveal</ERROR> to $ billion in supplemental appropriations <ERROR>far</ERROR> law enforcement and anti-drug programs in fiscal <num> . 
the leadership hopes to move the compromise measure <ERROR>promtly</ERROR> to the <ERROR>wite</ERROR> house , but <ERROR>it</ERROR> recent days , the <ERROR>senete</ERROR> has been as likely <ERROR>two</ERROR> bounce bills back to <ERROR>to</ERROR> house . 
and after losing <ERROR>the</ERROR> battle <ERROR>tusday</ERROR> night with the senate foreign relations committee , appropriators from both houses are expected to <ERROR>de</ERROR> forced <ERROR>bac</ERROR> to conference . 
<ERROR>evreone</ERROR> agrees <ERROR>the</ERROR> most of the nation 's old bridges need to be repaired or replaced . 
highway officials insist <num> the ornamental railings on older bridges are n't strong enough to prevent vehicles <ERROR>fere</ERROR> crashing <ERROR>rowit</ERROR> . 
the <ERROR>primty</ERROR> purpose of a railing <ERROR>as</ERROR> to <ERROR>contane</ERROR> a vehicle and <ERROR>on</ERROR> to provide a scenic view , says jack white , a planner with the indiana highway <ERROR>deportment</ERROR> . 
<ERROR>with</ERROR> richmond , ind. , the type f railing <ERROR>in</ERROR> being used <ERROR>th</ERROR> replace arched openings on <ERROR>t</ERROR> g street <ERROR>bryyre</ERROR> . 
<ERROR>if</ERROR> hartford , conn. , the charter <ERROR>oke</ERROR> bridge will soon be replaced , the cast-iron medallions from its railings relegated to <ERROR>are</ERROR> park . 
citizens in peninsula , ohio , upset <ERROR>aver</ERROR> changes <ERROR>ro</ERROR> a bridge , negotiated a <ERROR>deel</ERROR> : <ERROR>they</ERROR> bottom <ERROR>hav</ERROR> of the railing will be type f , while the <ERROR>tap</ERROR> half will have the old bridge 's floral pattern . 
tray bon ? 
porting potables just <ERROR>goot</ERROR> easier , or so claims scypher corp. , the maker <ERROR>gf</ERROR> the cup-tote . 
<ERROR>hte</ERROR> new carrier can tote as <ERROR>meney</ERROR> as <ERROR>fours</ERROR> cups at once . 
lids are n't even needed . 
a few fast-food outlets are <ERROR>giveing</ERROR> it a try . 
a driver has to find something <num> to hang <ERROR>hte</ERROR> carrier <ERROR>ons</ERROR> , so the company supplies a window hook . 
and unlike <ERROR>so</ERROR> trays , there 's no <ERROR>plas</ERROR> for food . 
<ERROR>on</ERROR> exchange of u.s. <ERROR>are</ERROR> soviet designers promises change on both sides . 
<ERROR>they</ERROR> show runs <ERROR>tehe</ERROR> gamut , <ERROR>forma</ERROR> a blender to chairs to <ERROR>ah</ERROR> model of the citicorp building . 
dan droz , leader of <ERROR>tehe</ERROR> carnegie-mellon group , sees benefits <ERROR>at</ERROR> around . 
americans will learn more about making products for the soviets . 
<ERROR>if</ERROR> moscow , they kept <ERROR>askin</ERROR> us things like , ` why do you make <num> different corkscrews , when all <num> you need is one good one ? ' he <ERROR>sais</ERROR> . 
seed for <ERROR>gail</ERROR> solution <ERROR>failes</ERROR> to take root 
<ERROR>hit</ERROR> would ease jail overcrowding <ERROR>will</ERROR> preserving historic structures , the company says <num> . 
grain elevators built in the 1920s and '30s have six-inch concrete walls and <ERROR>an</ERROR> tubular shape that <ERROR>wood</ERROR> easily contain semicircular cells with a control point in <ERROR>tehe</ERROR> middle , <ERROR>tehe</ERROR> new york firm says <num> . 
<ERROR>beside</ERROR> , eggers says <num> , <ERROR>gran</ERROR> elevators are worth preserving for aesthetic <ERROR>resons</ERROR> one famed architect compared <ERROR>then</ERROR> to the pyramids of egypt . 
a medium-sized one in brooklyn , it says <num> , could <ERROR>de</ERROR> altered to <ERROR>hosen</ERROR> up <ERROR>too</ERROR> inmates at <ERROR>the</ERROR> lower cost <ERROR>that</ERROR> building <ERROR>as</ERROR> new <ERROR>pisond</ERROR> in upstate new york . 
the labor department cited usx corp. for numerous health and safety violations at two pennsylvania plants , and proposed $ million <ERROR>it</ERROR> fines , the largest penalty <ERROR>every</ERROR> proposed <ERROR>frou</ERROR> alleged workplace violations by an employer . 
osha cited nearly alleged violations <ERROR>gf</ERROR> federal <ERROR>electrcal</ERROR> , crane-safety , record-keeping <ERROR>aand</ERROR> other requirements . 
labor secretary elizabeth dole <ERROR>surs</ERROR> , the magnitude of <ERROR>theres</ERROR> penalties <ERROR>than</ERROR> citations is matched only <ERROR>bery</ERROR> the magnitude of the hazards to workers which resulted from corporate indifference to worker safety and health , and severe cutbacks in <ERROR>that</ERROR> maintenance and repair programs <ERROR>nedded</ERROR> to remove those hazards . 
gerard scannell , the head of osha , said <num> usx managers have known about <ERROR>memey</ERROR> of the safety and <ERROR>helth</ERROR> deficiencies at the plants <ERROR>of</ERROR> years , yet have <ERROR>faild</ERROR> to take necessary action to counteract the hazards . 
that settlement was <ERROR>i</ERROR> april <num> . 
once we do , <ERROR>thaire</ERROR> will receive very serious evaluation , the spokesman said . 
usx said <num> <ERROR>i</ERROR> has been cooperating <ERROR>wirth</ERROR> osha <ERROR>senss</ERROR> the <ERROR>agentcy</ERROR> began investigating the clairton <ERROR>are</ERROR> fairless works . 
the usx citations represented the first sizable enforcement action <ERROR>token</ERROR> by osha under mr. scannell . 
the big problem <ERROR>his</ERROR> that usx management <ERROR>his</ERROR> proved unwilling to devote the necessary resources and manpower <ERROR>too</ERROR> removing hazards <ERROR>an</ERROR> to safeguarding safety and <ERROR>helth</ERROR> in <ERROR>that</ERROR> plants , said linda anku , osha regional administrator in philadelphia . 
before the usx case , osha 's largest proposed fine for one <ERROR>inmoper</ERROR> was $ <ERROR>millon</ERROR> for alleged safety violations at john morrell & co. , <ERROR>an</ERROR> meatpacking subsidiary <ERROR>from</ERROR> united brands co. , <ERROR>cincinatti</ERROR> . 
<ERROR>dew</ERROR> to an editing error , a letter <ERROR>tow</ERROR> the editor <ERROR>is</ERROR> yesterday 's <ERROR>edision</ERROR> from frederick h. hallett mistakenly identified <ERROR>t</ERROR> nrdc . 
your oct. <num> editorial the ill homeless referred <ERROR>two</ERROR> research by us and six <ERROR>gf</ERROR> our colleagues that was reported in the sept. <num> issue <ERROR>ofr</ERROR> the journal of the american medical association . 
<ERROR>wot</ERROR> have made <ERROR>know</ERROR> such <ERROR>statment</ERROR> . 
the causes <ERROR>ovot</ERROR> homelessness are poorly understood and complex in any individual case . 
you did not note that <ERROR>an</ERROR> homeless <ERROR>peepull</ERROR> <num> we <ERROR>examend</ERROR> had a multitude of <ERROR>phisical</ERROR> disorders in addition to their psychiatric problems and substance abuse . 
homeless <ERROR>peropel</ERROR> not <ERROR>onlt</ERROR> lack safety , privacy <ERROR>i</ERROR> shelter , they <ERROR>allso</ERROR> lack the elementary necessities of nutrition , cleanliness and basic health care . 
the interactions <ERROR>beeteen</ERROR> health and homelessness <ERROR>rir</ERROR> complex , defying sweeping generalizations <ERROR>asw</ERROR> to cause or effect . 
this will require us to <ERROR>develope</ERROR> a much <ERROR>mooe</ERROR> sophisticated <ERROR>undestanding</ERROR> of <ERROR>tu</ERROR> dynamics of homelessness <ERROR>that</ERROR> we currently <ERROR>possis</ERROR> , an understanding <ERROR>haen</ERROR> can be developed only <ERROR>threw</ERROR> careful study and research . 
a study by tulane prof. james wright says <num> homelessness is due to a complex array of <ERROR>problem</ERROR> , <ERROR>wthe</ERROR> the common thread of poverty . 
according <ERROR>th</ERROR> dr. wright , homelessness is simultaneously a housing problem , an employment problem , <ERROR>and</ERROR> demographic problem , a problem of social disaffiliation , <ERROR>are</ERROR> mental health problem , a <ERROR>fammily</ERROR> violence problem , a problem created by the cutbacks <ERROR>if</ERROR> social welfare spending , a problem resulting from <ERROR>an</ERROR> decay of the traditional <ERROR>nucler</ERROR> family , <ERROR>so</ERROR> a problem intimately <ERROR>conected</ERROR> to the recent increase in the number of persons living <ERROR>blow</ERROR> the poverty level . 
to <ERROR>quot</ERROR> the highly regarded <ERROR>directer</ERROR> of a privately funded drop-in center for the homeless <ERROR>im</ERROR> new york : <ERROR>it</ERROR> you 're homeless , you <ERROR>du</ERROR> n't sleep for <ERROR>feare</ERROR> of being robbed or <ERROR>murderd</ERROR> . 
some of the homeless , obviously , had pre-existing mental illness or addiction . 
once <ERROR>thar</ERROR> , what ways of escape <ERROR>aree</ERROR> open to them other <ERROR>that</ERROR> drink , drugs or insanity ? 
you dismiss as sentimental the <ERROR>ve</ERROR> that the reduction of federal housing-assistance programs by <num> % might have played a <ERROR>significent</ERROR> role <ERROR>is</ERROR> the increased number of men and women sleeping on our city streets during the reagan-bush years . 
<ERROR>ore</ERROR> research stopped when a <ERROR>convienient</ERROR> assertion could be made . 
of <ERROR>tu</ERROR> approximately <num> sponsors of the recent <ERROR>mach</ERROR> in washington for the homeless , <ERROR>yuo</ERROR> chose to cite such groups as the national association <ERROR>ov</ERROR> home builders and the international union of bricklayers <ERROR>aand</ERROR> allied craftsmen , insinuating that the <ERROR>mach</ERROR> got <ERROR>it</ERROR> major support from self-serving groups that <ERROR>kown</ERROR> a <ERROR>go</ERROR> thing when they see it , and that <ERROR>t</ERROR> crusade was based on greed or the profit motive . 
why did n't you mention the ymca or the ywca <ERROR>al</ERROR> catholic charities usa or a hundred other nonprofit organizations that participated in the march ? 
choose <num> business executives , <ERROR>enculding</ERROR> , perhaps , someone from your own staff , and put <ERROR>there</ERROR> out on the streets , to be deprived <ERROR>fre</ERROR> one <ERROR>munth</ERROR> of <ERROR>they</ERROR> homes , <ERROR>familes</ERROR> and income . 
ruth k. nelson cullowhee , n.c . 
perpetual preferred shares <ERROR>ra</ERROR> n't retractable by <ERROR>th</ERROR> holders , the company said <num> . 
a spokesman <ERROR>fore</ERROR> the toronto cable television and telecommunications concern said <num> the coupon rate <ERROR>hos</ERROR> n't yet been fixed , but will probably <ERROR>dy</ERROR> set <ERROR>a</ERROR> around <num> % . 
the house <ERROR>pase</ERROR> legislation <ERROR>disinged</ERROR> to make it easier for the transportation <ERROR>deportment</ERROR> to block airline leveraged buy-outs . 
the bush administration has threatened to veto such a bill because of what it views as <ERROR>am</ERROR> undesirable intrusion into the affairs of industry , but <ERROR>a</ERROR> vote suggests that supporters <ERROR>haven</ERROR> the potential <num> <ERROR>two</ERROR> override a veto . 
while the senate commerce <ERROR>commity</ERROR> has approved legislation similar to <ERROR>tie</ERROR> house bill <ERROR>onn</ERROR> airline leveraged buy-outs , <ERROR>tehe</ERROR> measure has n't <ERROR>yat</ERROR> come <ERROR>two</ERROR> the full <ERROR>flor</ERROR> . 
<ERROR>thw</ERROR> purpose <ERROR>gf</ERROR> the bill is to <ERROR>pot</ERROR> the brakes on airline acquisitions that would so load a carrier up with debt that <ERROR>is</ERROR> would impede safety or a carrier 's ability to compete , rep. john paul hammerschmidt , -lrb- r. , ark . -rrb- said . 
<ERROR>tu</ERROR> department would be required to block the buy-out if the acquisition is likely to financially weaken a carrier so <ERROR>thatt</ERROR> safety <ERROR>wold</ERROR> be impaired ; its ability <ERROR>tow</ERROR> compete would <ERROR>bee</ERROR> sharply diminished ; it would <ERROR>bee</ERROR> put into foreign control ; <ERROR>are</ERROR> if <ERROR>they</ERROR> transaction would result in the <ERROR>sail</ERROR> of airline-related assets unless selling such assets had an overriding public benefit . 
rep. james traficant -lrb- d. , ohio -rrb- , said <num> the amendment , which passed , would let the <ERROR>ameracan</ERROR> worker know that we consider <ERROR>there</ERROR> occasionally . 
on tuesday , <ERROR>a</ERROR> house approved a labor-backed amendment <ERROR>hart</ERROR> would require the transportation department to reject airline acquisitions if <ERROR>th</ERROR> person seeking to purchase a carrier had run two or more airlines previously that have filed for protection from creditors <ERROR>undr</ERROR> chapter <num> of the federal bankruptcy code . 
follow-up report : 
you <ERROR>came</ERROR> even take <ERROR>nots</ERROR> extensive notes , for the voice folks wo n't <ERROR>loak</ERROR> over <ERROR>yere</ERROR> shoulder about <ERROR>whot</ERROR> you read . 
<ERROR>anf</ERROR> my newspaper <ERROR>cane</ERROR> print the text <ERROR>ofr</ERROR> those broadcasts . 
that was <ERROR>thi</ERROR> law . 
it was censorship . 
and <ERROR>its</ERROR> was stupid . 
that sounds neat , but this government any government propagandizes its own people every <ERROR>duy</ERROR> . 
propaganda is just information <num> to support a viewpoint , and the beauty of a democracy is that it enables you to hear <ERROR>of</ERROR> read every viewpoint <ERROR>than</ERROR> then make up your <ERROR>one</ERROR> mind on an <ERROR>isue</ERROR> . 
in june <num> , <ERROR>ld</ERROR> wrote <ERROR>is</ERROR> this <ERROR>spase</ERROR> about this issue . 
the <ERROR>vose</ERROR> of america is <ERROR>i</ERROR> government <ERROR>agentcy</ERROR> that broadcasts news <ERROR>ane</ERROR> views some might <ERROR>said</ERROR> propaganda <ERROR>im</ERROR> <num> languages to <num> million listeners around the world . 
its budget $ <num> <ERROR>millon</ERROR> is <ERROR>payed</ERROR> for by <ERROR>yow</ERROR> . 
the law <ERROR>lat</ERROR> scholars , reporters and <ERROR>rea</ERROR> read texts of voa material , only at voa <ERROR>headquoters</ERROR> in washington , but <ERROR>il</ERROR> barred them from copying texts . 
how 's that <ERROR>agon</ERROR> ? 
<ERROR>weot</ERROR> if i tune in <ERROR>miy</ERROR> short-wave <ERROR>raido</ERROR> , transcribe an editorial or program , and print it in my newspaper ? 
that sounded a lot like censorship , <ERROR>some</ERROR> after <ERROR>year</ERROR> of letters and conversations that went nowhere , i sued . 
<ERROR>as</ERROR> least , that 's the way <num> it was reported . 
<ERROR>put</ERROR> i i like to think of it in terms <ERROR>cift</ERROR> we , <ERROR>a</ERROR> of us won the <ERROR>pont</ERROR> . 
<ERROR>thw</ERROR> usia said that , on reflection , <ERROR>af</ERROR> course i could print <ERROR>enything</ERROR> <num> i could get my hands <ERROR>onn</ERROR> . 
the usia officially <ERROR>aand</ERROR> publicly declared <ERROR>they</ERROR> absolute right <ERROR>cift</ERROR> everyone <ERROR>accept</ERROR> the usia to disseminate agency program materials <ERROR>is</ERROR> the united states , my lawyer , the scholarly mark mccormick of des moines , said in a memo pointing <ERROR>owt</ERROR> the <ERROR>fas</ERROR> and trying to make me feel <ERROR>goad</ERROR> after the press reported that i had lost . 
<ERROR>that</ERROR> usia said that , <ERROR>ons</ERROR> reflection , anyone could view the voa materials , <ERROR>mot</ERROR> just <ERROR>my</ERROR> reporters , scholars , researchers and congressmen who are mentioned <ERROR>it</ERROR> the statute . 
and the usia <ERROR>sied</ERROR> that all of us could <ERROR>taek</ERROR> extensive <ERROR>nots</ERROR> . 
i had sought , in my suit , the right to print voice material , which had been denied me , and i had sought a <ERROR>rite</ERROR> to <ERROR>receave</ERROR> the information , arguing <ERROR>if</ERROR> effect <ERROR>vat</ERROR> a right to <ERROR>prent</ERROR> government information is n't very helpful if i have no right to get the <ERROR>imformation</ERROR> . 
the first amendment proscribes the government from <ERROR>pasing</ERROR> laws abridging the right to <ERROR>fee</ERROR> speech , <ERROR>juge</ERROR> donald o'brien ruled . 
<ERROR>slow</ERROR> now the situation is this : 
i have a right to print those scripts if i go <ERROR>thise</ERROR> and laboriously <ERROR>dut</ERROR> no longer surreptitiously copy them out in <ERROR>log</ERROR> hand . 
<ERROR>i</ERROR> an era when <ERROR>evrey</ERROR> government agency has a public-relations machine that sends you stuff whether you <ERROR>whont</ERROR> it <ERROR>are</ERROR> not , this does seem odd . 
<ERROR>sow</ERROR> the next step , <ERROR>has</ERROR> suspect <num> , is to try <ERROR>th</ERROR> get the <ERROR>lor</ERROR> changed . 
section <num> of the united states <ERROR>im</ERROR> and educational exchange act of <num> says <num> voice material shall <ERROR>linge</ERROR> available <ERROR>tow</ERROR> certain of us -lrb- but <ERROR>mor</ERROR> , thanks to <ERROR>they</ERROR> usia 's new position , all of us -rrb- <ERROR>or</ERROR> examination only . 
this is not a trivial issue . 
the man <ERROR>way</ERROR> charles z. wick . 
he had no answers then . 
<ERROR>thhis</ERROR> democracy is suddenly <ERROR>an</ERROR> little more democratic . 
mr. gartner <ERROR>as</ERROR> editor <ERROR>than</ERROR> co-owner of the daily tribune in ames , iowa , and president of nbc news in new york . 
herbert m. baum , the 53-year-old president of the company 's campbell u.s.a. unit , and edwin l. harper , <num> , the chief financial <ERROR>oficer</ERROR> , will run campbell as a <ERROR>teem</ERROR> , dividing responsibilities rather evenly <ERROR>untill</ERROR> a successor is named . 
wall street reacted favorably to mr. mcgovern 's departure and <ERROR>is</ERROR> implications . 
the profit motive of the major shareholders has clearly changed for the better , said john mcmillin , <ERROR>ah</ERROR> food industry analyst for prudential-bache in new york . 
new managers <ERROR>wold</ERROR> think a little more <ERROR>took</ERROR> wall street , mr. mcmillin added . 
campbell 's international businesses , <ERROR>pertickly</ERROR> in the u.k. and italy , appear to be at <ERROR>tu</ERROR> heart of its <ERROR>problem</ERROR> . 
<ERROR>four</ERROR> example , campbell is a <ERROR>distance</ERROR> third in the u.k. frozen foods market , where it <ERROR>reicently</ERROR> paid <num> times earnings for freshbake foods plc and wound up <ERROR>wien</ERROR> far more capacity than it could use . 
such problems will require <ERROR>conciderable</ERROR> skill to resolve . 
mr. baum , a seasoned marketer <ERROR>hoow</ERROR> is said to have a good rapport <ERROR>wivr</ERROR> campbell employees , will have <ERROR>responsibality</ERROR> for all domestic operations except the pepperidge farm unit . 
in an joint interview yesterday , both men said <num> <ERROR>thir</ERROR> would like <ERROR>two</ERROR> be <ERROR>t</ERROR> company 's next chief executive . 
the board is dominated by <ERROR>th</ERROR> heirs <ERROR>gf</ERROR> the late john t. dorrance jr. , who controlled about <num> % of campbell 's stock when <ERROR>if</ERROR> died in <ERROR>apirl</ERROR> . 
in <ERROR>augest</ERROR> , <ERROR>hte</ERROR> company took <ERROR>ah</ERROR> $ <num> million pretax charge against fiscal <num> earnings when <ERROR>hit</ERROR> announced a world-wide restructuring plan . 
<ERROR>dut</ERROR> analysts <ERROR>sede</ERROR> <num> early <ERROR>result</ERROR> from the reorganization have been disappointing , especially in europe , <ERROR>ane</ERROR> there were signs that the <ERROR>bord</ERROR> became impatient . 
the <ERROR>compy</ERROR> 's <ERROR>prepard</ERROR> statement quoted <ERROR>his</ERROR> as saying , the ceo succession is well along and i 've <ERROR>desided</ERROR> for personal reasons to take <ERROR>eigly</ERROR> retirement . 
mr. mcgovern himself had said repeatedly that he intended to stay on until he reached the conventional <ERROR>retirment</ERROR> age <ERROR>on</ERROR> <num> in october <num> , unless i get fired . 
for fiscal <num> , mr. mcgovern received <ERROR>the</ERROR> salary of $ . 
he will be eligible <ERROR>fror</ERROR> an <ERROR>anuaual</ERROR> pension <ERROR>othe</ERROR> more <ERROR>that</ERROR> $ <ERROR>whith</ERROR> certain <ERROR>othere</ERROR> fringe benefits . 
mr. baum said <num> he and mr. harper <ERROR>buth</ERROR> advocated <ERROR>closeing</ERROR> some plants <ERROR>a</ERROR> long ago as <ERROR>erly</ERROR> <num> . 
you 've got to make those savings now . 
we look upon this as a great <ERROR>opertunity</ERROR> to prove the <ERROR>fackt</ERROR> that <ERROR>be</ERROR> have a tremendous management <ERROR>term</ERROR> , he said . 
mr. baum said <num> the two have orders <ERROR>th</ERROR> focus on bottom-line profits <ERROR>i</ERROR> to take <ERROR>an</ERROR> hard <ERROR>lak</ERROR> at <ERROR>oar</ERROR> businesses what <ERROR>his</ERROR> good , what <ERROR>it</ERROR> not <ERROR>sane</ERROR> good . 
the way that we 've been managing campbell u.s.a. can hopefully <ERROR>spred</ERROR> to other areas of <ERROR>to</ERROR> company , mr. baum said . 
you 've <ERROR>gat</ERROR> two champions sitting right before <ERROR>yo</ERROR> , <ERROR>siad</ERROR> mr. baum . 
wednesday , november <num> , <num> 
prime rate : <num> % . 
<ERROR>fedral</ERROR> funds : <num> % high , <num> % <ERROR>lowe</ERROR> , <num> % near closing bid , <num> % <ERROR>offerred</ERROR> . 
source : fulton prebon -lrb- u.s.a . -rrb- inc . 
the charge on loans <ERROR>two</ERROR> depository institutions by the new york <ERROR>fedral</ERROR> reserve bank . 
the charge on loans to brokers on stock exchange collateral . 
commercial <ERROR>papr</ERROR> : high-grade unsecured notes sold <ERROR>throw</ERROR> dealers <ERROR>be</ERROR> major corporations <ERROR>i</ERROR> multiples <ERROR>onet</ERROR> $ : % <num> days ; % <num> days ; % <num> days . 
average <ERROR>afoh</ERROR> top rates paid by major <ERROR>mew</ERROR> york banks on primary new issues of negotiable c.d.s , usually <ERROR>onn</ERROR> amounts <ERROR>cift</ERROR> $ <num> million and <ERROR>mooe</ERROR> . 
typical rates <ERROR>with</ERROR> the secondary market : % <ERROR>wum</ERROR> month ; % three <ERROR>mouths</ERROR> ; % six months . 
negotiable , bank-backed business credit instruments typically financing an import order . 
london interbank <ERROR>offerred</ERROR> rates -lrb- libor -rrb- : <num> % one month ; <num> % three <ERROR>moths</ERROR> ; <num> % <ERROR>sex</ERROR> months ; <num> % one year . 
<ERROR>foriegn</ERROR> prime rates : <ERROR>canda</ERROR> % ; germany <num> % ; japan % ; switzerland % ; britain <num> % . 
treasury bills : <ERROR>result</ERROR> of the monday , <ERROR>octber</ERROR> <num> , <num> , auction <ERROR>ofr</ERROR> short-term u.s. government bills , sold at a discount from face value <ERROR>is</ERROR> units of $ to $ <num> million : % <num> weeks ; % <num> weeks . 
% , <ERROR>standed</ERROR> conventional fixed-rate mortgages ; % , <num> % rate capped one-year adjustable rate mortgages . 
federal national mortgage <ERROR>ascociation</ERROR> -lrb- fannie mae -rrb- : posted yields on <num> year mortgage <ERROR>committments</ERROR> for <ERROR>delievery</ERROR> within <num> days -lrb- priced at par -rrb- % , standard conventional fixed-rate mortgages ; % , rate capped one-year adjustable rate mortgages . 
merrill lynch ready assets trust : % . 
robert l. bernstein , chairman and <ERROR>presedent</ERROR> of random house inc. , announced his resignation from the publishing house <num> he has <ERROR>ran</ERROR> for <num> years . 
abrupt departures are n't unheard of <ERROR>withing</ERROR> the newhouse empire . 
he declined to <ERROR>elaberate</ERROR> , other than <ERROR>two</ERROR> say , it just seemed the right thing <num> to do at this <ERROR>minit</ERROR> . 
mr. bernstein <ERROR>sead</ERROR> <num> he will <ERROR>stae</ERROR> until dec. <num> <ERROR>anf</ERROR> work with <ERROR>hes</ERROR> successor , who is to be named soon . 
the company said <num> the publisher 's annual sales volume increased to $ <num> million from $ <num> million during mr. bernstein 's tenure . 
<ERROR>they</ERROR> company is doing well , it 's <ERROR>stabel</ERROR> , it 's <ERROR>go</ERROR> good <ERROR>pecial</ERROR> . 
publishing officials believe that <ERROR>wilh</ERROR> random house has enjoyed spectacular <ERROR>groth</ERROR> and <ERROR>as</ERROR> smoothly integrated many acquisitions <ERROR>is</ERROR> recent years , some of <ERROR>an</ERROR> bigger <ERROR>one</ERROR> have n't <ERROR>din</ERROR> absorbed <ERROR>sung</ERROR> easily . 
as a <ERROR>privite</ERROR> company , random house <ERROR>dus</ERROR> n't report its earnings . 
speculation on <ERROR>him</ERROR> successor centers <ERROR>onn</ERROR> a number of division heads at <ERROR>that</ERROR> house . 
<ERROR>same</ERROR> say <num> anthony cheetham , head of a recently acquired british company , century hutchinson , could <ERROR>linge</ERROR> chosen . 
not included on the most-likely-successor list <ERROR>arre</ERROR> joni evans , recruited two <ERROR>yers</ERROR> ago to be publisher of <ERROR>addult</ERROR> trade books for random house , <ERROR>i</ERROR> sonny mehta , president of the prestigious alfred a. knopf unit . 
mr. mehta is <ERROR>widly</ERROR> viewed as <ERROR>the</ERROR> brilliant editor but a less-than-brilliant administrator <ERROR>an</ERROR> his own departure was rumored recently . 
congress learned during the reagan administration that it <ERROR>cood</ERROR> intimidate the executive <ERROR>brach</ERROR> by uttering <ERROR>againt</ERROR> and again the same seven words : provided , that <ERROR>know</ERROR> funds shall be <ERROR>spend</ERROR> . 
it signals congress 's attempt , under the pretext of guarding the public <ERROR>purce</ERROR> , to deny the president the funding <ERROR>necasery</ERROR> to execute certain of his duties and prerogatives specified in article ii of <ERROR>tehe</ERROR> constitution . 
the appropriations <ERROR>claws</ERROR> states that no money shall be drawn from the treasury , but in consequence of appropriations made <ERROR>be</ERROR> law . 
this <ERROR>interpart</ERROR> was officially endorsed <ERROR>biy</ERROR> congress <ERROR>it</ERROR> <num> in the iran-contra report . 
it is not supported by the text or history of <ERROR>that</ERROR> constitution . 
to the extent <num> they <ERROR>do</ERROR> , <ERROR>they</ERROR> concern was <ERROR>of</ERROR> ensure fiscal accountability . 
<ERROR>il</ERROR> would contradict that objective if <ERROR>that</ERROR> appropriations clause -lrb- <ERROR>technecally</ERROR> a limitation on legislative power -rrb- could <ERROR>pe</ERROR> read <ERROR>at</ERROR> placing the president on congress 's <ERROR>sort</ERROR> leash , <ERROR>macking</ERROR> the <ERROR>exectutive</ERROR> consist of the <ERROR>presedent</ERROR> and every <ERROR>menber</ERROR> of <ERROR>cnongress</ERROR> . 
during the coming weeks , president bush <ERROR>mas</ERROR> decide whether to veto <ERROR>thi</ERROR> bills containing them or , alternatively , to sign these bills <ERROR>intoo</ERROR> law <ERROR>yethe</ERROR> a statement declaring their intrusions <ERROR>and</ERROR> executive power to be in violation of article ii , and thus void <ERROR>ane</ERROR> severable . 
article ii places <ERROR>of</ERROR> the president <ERROR>tie</ERROR> duty to nominate , and <ERROR>buy</ERROR> and <ERROR>whit</ERROR> the advice and <ERROR>concent</ERROR> of the senate <ERROR>apoint</ERROR> , ambassadors , judges , and other officers of <ERROR>hte</ERROR> u.s. . 
yet section <num> of the appropriations <ERROR>bil</ERROR> for the executive <ERROR>ofice</ERROR> provides : <ERROR>know</ERROR> part of any appropriation <ERROR>fro</ERROR> the current fiscal <ERROR>yeare</ERROR> contained <ERROR>with</ERROR> this or any other act shall be <ERROR>payed</ERROR> to any <ERROR>percon</ERROR> for <ERROR>th</ERROR> filling <ERROR>cift</ERROR> any position for which he or she <ERROR>hase</ERROR> been nominated <ERROR>aftere</ERROR> the <ERROR>senete</ERROR> has voted not to approve the nomination of said person . 
section <num> also imposes unconstitutional conditions on <ERROR>t</ERROR> president 's ability to nominate candidates <ERROR>othe</ERROR> his <ERROR>chosing</ERROR> . 
the president could <ERROR>probley</ERROR> not avoid <ERROR>thhis</ERROR> restriction by choosing people <ERROR>welling</ERROR> to <ERROR>surve</ERROR> without pay , because <ERROR>i</ERROR> anti-deficiency act prohibits voluntary service to the government . 
muzzling provisions , <ERROR>withe</ERROR> might be called blindfold laws <ERROR>was</ERROR> well , <ERROR>pervent</ERROR> the executive branch <ERROR>fere</ERROR> even looking at <ERROR>cirtain</ERROR> policy options , <ERROR>lat</ERROR> alone from recommending <ERROR>the</ERROR> to <ERROR>cangress</ERROR> . 
typically , these laws seek to <ERROR>pervent</ERROR> executive <ERROR>brach</ERROR> officials from inquiring into whether certain <ERROR>fedral</ERROR> programs <ERROR>mank</ERROR> any <ERROR>ecomonica</ERROR> sense <ERROR>of</ERROR> proposing more market-oriented alternatives to regulations . 
there <ERROR>it</ERROR> something inherently suspect about congress 's prohibiting the executive from even <ERROR>studiing</ERROR> whether <ERROR>puplic</ERROR> funds are being wasted <ERROR>with</ERROR> some favored program or other . 
<ERROR>tish</ERROR> provision <ERROR>ammounts</ERROR> to a legislative veto over the president 's execution of <ERROR>t</ERROR> law , since a one-house resolution <ERROR>coud</ERROR> be said to <ERROR>bei</ERROR> duly adopted even though it would require neither bicameral action in <ERROR>cnongress</ERROR> nor presentation to the president for his <ERROR>sengher</ERROR> or veto . 
president bush <ERROR>choud</ERROR> veto appropriations <ERROR>acks</ERROR> that <ERROR>contane</ERROR> these kinds of unconstitutional conditions <ERROR>ons</ERROR> the president 's <ERROR>abillity</ERROR> to discharge <ERROR>is</ERROR> duties and exercise <ERROR>has</ERROR> prerogatives . 
<ERROR>with</ERROR> becomes custom in the bush <ERROR>adminstration</ERROR> will only become <ERROR>mooe</ERROR> difficult <num> for future <ERROR>presidends</ERROR> , including democrats , to undo . 
by <num> , then-speaker jim wright was discussing arms control <ERROR>if</ERROR> moscow with mikhail gorbachev and <ERROR>than</ERROR> attempting to direct the president , through an appropriations rider , to treat the soviets as though <ERROR>i</ERROR> senate had ratified salt ii . 
the constitution does <ERROR>knot</ERROR> expressly give the <ERROR>presedent</ERROR> such power . 
the question <ERROR>as</ERROR> whether his only <ERROR>maenas</ERROR> of defense is the veto . 
as discussed in the context of controlling federal spending , the line-item veto is characterized as a way <num> for the <ERROR>presedent</ERROR> to excise perfectly constitutional provisions in a spending bill that are objectionable <ERROR>merly</ERROR> because <ERROR>thar</ERROR> conflict <ERROR>wint</ERROR> his <ERROR>pilicy</ERROR> objectives . 
one could argue that it is not an assertion of a item veto at all for the president , by exerting a power of excision , to resist unconstitutional conditions <ERROR>with</ERROR> legislation that violate <ERROR>these</ERROR> separation of powers . 
<ERROR>is</ERROR> congress does nothing , president <ERROR>buch</ERROR> will have won . 
in <ERROR>thay</ERROR> case , he <ERROR>my</ERROR> receive an <ERROR>ap</ERROR> from the court that is a vindication of the <ERROR>presedent</ERROR> 's right to perform the duties <ERROR>a</ERROR> exercise <ERROR>thi</ERROR> prerogatives <num> the framers thought <num> should <ERROR>bee</ERROR> entrusted to the <ERROR>exectutive</ERROR> . 
but <ERROR>thee</ERROR> presidency would be no worse off than it is now . 
as it stands <ERROR>kn</ERROR> , <ERROR>comgress</ERROR> presumes after <ERROR>hte</ERROR> reagan administration <ERROR>than</ERROR> the white house will take unconstitutional <ERROR>provisons</ERROR> in appropriations bills lying down . 
if he does not , he will help realize madison 's fear in the federalist no. <num> of a legislature everywhere extending the sphere of its activity and drawing all powers <ERROR>intwo</ERROR> its impetuous vortex . 
his longer analysis of executive <ERROR>pour</ERROR> and the appropriations clause is to appear in the duke law journal later this year . 
<ERROR>my</ERROR> previous record was $ billion in <num> , according to the <ERROR>agraculture</ERROR> department . 
most <ERROR>onet</ERROR> those states set farm income records . 
what saved many farmers from a bad year was the opportunity to reclaim large quantities of grain and <ERROR>uther</ERROR> crops <ERROR>than</ERROR> they had mortgaged <ERROR>th</ERROR> the <ERROR>grovment</ERROR> under price-support loan programs . 
<ERROR>with</ERROR> less parched areas , meanwhile , farmers who had <ERROR>lettel</ERROR> or no <ERROR>lose</ERROR> of <ERROR>productions</ERROR> profited greatly <ERROR>forma</ERROR> the higher prices . 
analysts attributed the increases partly <ERROR>tow</ERROR> the $ <num> billion disaster-assistance <ERROR>pakage</ERROR> enacted by <ERROR>converse</ERROR> . 
it also helps explain the reluctance of the major farm lobbies <ERROR>a</ERROR> many lawmakers to make any significant changes in the <num> farm program next year . 
at <ERROR>i</ERROR> same time , export demand for u.s. <ERROR>weat</ERROR> , <ERROR>cron</ERROR> and other commodities strengthened , said keith collins , a <ERROR>deportment</ERROR> analyst . 
all of <ERROR>tes</ERROR> forces came <ERROR>togearthy</ERROR> in <num> to <ERROR>benifit</ERROR> agriculture , mr. collins said . 
iowa and minnesota were among the few major <ERROR>from</ERROR> states <num> <ERROR>two</ERROR> log a decline in net cash income . 
many lost <ERROR>the</ERROR> farms . 
<ERROR>indead</ERROR> , net <ERROR>cach</ERROR> income is likely <ERROR>two</ERROR> fall <ERROR>tish</ERROR> year as <ERROR>form</ERROR> expenses rise and government payments to farmers decline . 
last year , government payments to farmers slipped <ERROR>of</ERROR> less than $ billion from <ERROR>the</ERROR> record $ billion in <num> . 
after years of struggling , the los angeles herald examiner will publish its last edition today , <ERROR>shud</ERROR> down <ERROR>buy</ERROR> its parent , hearst corp. , following unsuccessful efforts to sell the venerable newspaper . 
the los angeles times , with a circulation of more <ERROR>then</ERROR> million , dominates the region . 
nearby cities <ERROR>suu</ERROR> as pasadena <ERROR>are</ERROR> long beach also have <ERROR>lare</ERROR> dailies . 
speculation had it <ERROR>thatt</ERROR> the <ERROR>compy</ERROR> was <ERROR>askeing</ERROR> $ <num> <ERROR>millon</ERROR> for an operation <ERROR>ded</ERROR> to be losing <ERROR>adout</ERROR> $ <num> million <ERROR>the</ERROR> year , <ERROR>bun</ERROR> others said <num> hearst might have virtually given the paper away . 
the prospective buyers included investor marvin davis and the toronto sun . 
los angeles is a sprawling , balkanized <ERROR>newspapper</ERROR> market , and advertisers seemed to feel <num> they could buy <ERROR>spase</ERROR> in the mammoth times , <ERROR>them</ERROR> target a particular area with one of the regional dailies . 
further , the herald seemed torn editorially between keeping its old-time hearst readership blue-collar and sports-oriented and <ERROR>triing</ERROR> to <ERROR>provied</ERROR> a sprightly , upscale alternative to <ERROR>tehe</ERROR> sometimes staid <ERROR>time</ERROR> . 
the herald joins the baltimore news-american , <ERROR>wo</ERROR> folded , and the boston herald-american , which <ERROR>wase</ERROR> sold , as cornerstones of the old hearst newspaper empire abandoned by the company in the 1980s . 
<ERROR>is</ERROR> fanciful offices were designed by architect julia morgan , who built the hearst castle at san simeon . 
analysts said <num> <ERROR>thee</ERROR> herald 's demise does n't necessarily represent the overall condition of the newspaper industry . 
actually , the long deterioration <ERROR>im</ERROR> daily newspapers shows signs <ERROR>or</ERROR> coming to an <ERROR>and</ERROR> , <ERROR>than</ERROR> the industry <ERROR>lookes</ERROR> pretty <ERROR>heathy</ERROR> . 
financially , it never recovered ; editorially , <ERROR>hit</ERROR> had <ERROR>is</ERROR> moments . 
he and his <ERROR>succesor</ERROR> , mary anne dolan , restored respect for the editorial product , and though in <ERROR>resent</ERROR> years the <ERROR>papr</ERROR> had been limping along <ERROR>in</ERROR> limited resources , its accomplishments were notable . 
<ERROR>hte</ERROR> herald 's sports coverage and arts criticism were <ERROR>alss</ERROR> highly regarded . 
hearst said <num> it would provide employees <ERROR>wive</ERROR> a placement service and pay <ERROR>there</ERROR> for <num> days . 
<ERROR>houres</ERROR> after the announcement , representatives <ERROR>op</ERROR> the orange <ERROR>conty</ERROR> register were in a bar across the <ERROR>st</ERROR> recruiting . 
<ERROR>if</ERROR> 've never seen so <ERROR>memey</ERROR> people crying <ERROR>if</ERROR> one place at <ERROR>onen</ERROR> time , said bill johnson , an assistant city editor . 
i 'm doing <ERROR>these</ERROR> main story , and i 'm already <ERROR>to</ERROR> beers <ERROR>dronk</ERROR> , <ERROR>z</ERROR> reporter andy furillo , whom the times hired <ERROR>aveoy</ERROR> several <ERROR>yers</ERROR> ago but who returned to the herald out of preference . 
outside , a young pressman filling a news box with <ERROR>am</ERROR> extra edition headlined herald examiner closes refused to <ERROR>teck</ERROR> a reader 's quarter . 
it does n't <ERROR>mank</ERROR> any difference <ERROR>hor</ERROR> . 
<ERROR>thee</ERROR> radio-station owner and programmer said <num> it was <ERROR>triyng</ERROR> to obtain additional working capital from its senior secured lenders <ERROR>anf</ERROR> other <ERROR>fenecherue</ERROR> institutions . 
in september , the company <ERROR>sald</ERROR> <num> it was seeking offers for its five radio stations in order to <ERROR>consuntrate</ERROR> on its programming business . 
or so the slogan might go . 
the <ERROR>companys</ERROR> are giving four-day vacations for two to buick buyers who charge all <ERROR>al</ERROR> part <ERROR>af</ERROR> their down payments on <ERROR>tehe</ERROR> american express green card . 
<ERROR>niether</ERROR> company would disclose the program 's cost . 
american <ERROR>exspress</ERROR> also <ERROR>repreents</ERROR> the upscale image <num> we 're <ERROR>triyng</ERROR> to project , she adds . 
sales were roughly flat in <ERROR>an</ERROR> <num> model year compared with a <ERROR>yea</ERROR> earlier , though industry sales fell . 
<ERROR>four</ERROR> american express , <ERROR>tu</ERROR> promotion <ERROR>as</ERROR> part of an <ERROR>effert</ERROR> to broaden the <ERROR>yowes</ERROR> of its card <ERROR>fror</ERROR> retail sales , <ERROR>wart</ERROR> the company expects to <ERROR>cet</ERROR> much of <ERROR>tie</ERROR> future growth in its card <ERROR>buisness</ERROR> . 
phillip riese , <ERROR>un</ERROR> american express executive <ERROR>vise</ERROR> president , says <num> the <ERROR>promition</ERROR> with buick <ERROR>as</ERROR> his company 's <ERROR>frest</ERROR> with an auto maker , but hopefully -lcb- <ERROR>wull</ERROR> be -rcb- the first of <ERROR>may</ERROR> in the company 's effort to promote its green card as <ERROR>th</ERROR> total car-care card . 
many <ERROR>ato</ERROR> dealers <ERROR>noe</ERROR> let car buyers charge <ERROR>pard</ERROR> or all of their purchase on <ERROR>a</ERROR> american express card , but few card holders realize this , mr. riese says <num> . 
<ERROR>buts</ERROR> gmac approved the buick program , he says <num> , because <ERROR>i</ERROR> american express green card requires payment in full upon billing , and so does n't carry any finance rates . 
in addition , buick is a <ERROR>relativly</ERROR> respected nameplate among american express card holders , says <num> an american express spokeswoman . 
american express has more than <num> million <ERROR>cord</ERROR> holders <ERROR>if</ERROR> the u.s. , and <ERROR>ofer</ERROR> half have the <ERROR>gren</ERROR> card . 
some million <ERROR>or</ERROR> the five <ERROR>millon</ERROR> who will get letters were preapproved for credit with gmac . 
a spokesman <ERROR>foir</ERROR> visa international 's u.s. subsidiary <ERROR>seys</ERROR> <num> his company is <ERROR>useing</ERROR> promotions <ERROR>tow</ERROR> increase use <ERROR>afoh</ERROR> its cards , but <ERROR>dus</ERROR> n't have plans for a tie-in <ERROR>simia</ERROR> to the american express-buick link . 
<ERROR>an</ERROR> vacation packages include hotel accommodations and , <ERROR>i</ERROR> some cases , tours or tickets to local attractions , but not meals . 
a buyer who chooses to fly to his destination must pay <ERROR>fo</ERROR> his own ticket but gets a companion 's <ERROR>tiket</ERROR> free <ERROR>is</ERROR> they <ERROR>flay</ERROR> on united airlines . 
<ERROR>kard</ERROR> holders who receive <ERROR>an</ERROR> letter <ERROR>allso</ERROR> are <ERROR>elegable</ERROR> for a sweepstakes with buick <ERROR>cors</ERROR> or a hawaii vacation as prizes . 
this is n't buick 's first travel-related <ERROR>promition</ERROR> . 
<ERROR>i</ERROR> promotion helped riviera sales exceed the division 's forecast by more than <num> % , buick said <num> at the <ERROR>thim</ERROR> . 
<ERROR>they</ERROR> ruling could <ERROR>leed</ERROR> to the <ERROR>cancelation</ERROR> of huge bank debts <num> the london borough of hammersmith and fulham ran up after <ERROR>loseing</ERROR> heavily on swap <ERROR>trasactions</ERROR> . 
an appeal is expected . 
gilts , or british government bonds , which also fell sharply initially , retraced some of the losses to end <ERROR>adout</ERROR> point lower . 
at <ERROR>last</ERROR> point , hammersmith <ERROR>his</ERROR> reported to have accounted for as much as <num> % of the sterling market in interest-rate swap dealings . 
thus , an institution obligated <ERROR>too</ERROR> make fixed-rate interest payments on debt swaps the payments with another making floating-rate payments . 
as interest rates rose , municipalities owed the banks more than <ERROR>tehe</ERROR> banks were <ERROR>paing</ERROR> them . 
the council backed the audit commission 's stand that the swap transactions are illegal . 
while this court ruling was only <ERROR>and</ERROR> hammersmith , it will obviously be very persuasive in <ERROR>othere</ERROR> cases <ERROR>othe</ERROR> a similar nature , a solicitor representing one of the banks <ERROR>ded</ERROR> . 
other financial institutions involved <ERROR>includ</ERROR> barclays bank plc , midland bank plc , security pacific corp. , chemical banking corp. 's chemical bank , citicorp 's citibank <ERROR>i</ERROR> mitsubishi finance international . 
banks could <ERROR>seak</ERROR> to recover payments <ERROR>two</ERROR> local authorities in instances where the banks made net payments to councils . 
the banks have <num> days <num> to <ERROR>fill</ERROR> an appeal against the ruling <ERROR>are</ERROR> are <ERROR>exspected</ERROR> to do so shortly . 
<ERROR>tu</ERROR> target of their wrath ? 
since october 's minicrash , wall street has been shaken by <ERROR>a</ERROR> explosion of resentment <ERROR>agianst</ERROR> program trading , the computer-driven , lightning-fast trades of huge baskets of stocks <ERROR>than</ERROR> futures that can <ERROR>sed</ERROR> stock prices reeling in <ERROR>muinets</ERROR> . 
the real <ERROR>battel</ERROR> is <ERROR>aver</ERROR> who will control that market <ERROR>are</ERROR> reap <ERROR>it</ERROR> huge rewards . 
<ERROR>th</ERROR> evidence indicates <ERROR>net</ERROR> program trading did n't , in fact , cause the market 's sharp <ERROR>fal</ERROR> on oct. <num> , though it may have exacerbated it . 
these are the main proponents <ERROR>afoh</ERROR> program trading . 
<ERROR>sol</ERROR> far , wall <ERROR>steest</ERROR> 's old guard seems <ERROR>of</ERROR> be winning <ERROR>thw</ERROR> program-trading battle , successfully mobilizing public and congressional opinion to bludgeon their tormentors . 
stung by charges that their greed <ERROR>as</ERROR> turning the stock market into a gigantic crapshoot , <ERROR>allmost</ERROR> all the big investment banking houses have abandoned index arbitrage , <ERROR>the</ERROR> common form of program trading , for their <ERROR>owe</ERROR> accounts in the past few <ERROR>das</ERROR> . 
the old guard 's assault on program trading and its practitioners <ERROR>hos</ERROR> been fierce <ERROR>so</ERROR> broad-based , in part because some old guard members feel <num> their very livelihood <ERROR>his</ERROR> at stake . 
big <ERROR>bord</ERROR> stock specialists , <ERROR>im</ERROR> a bold <ERROR>place</ERROR> revolt , began shortly after oct. <num> to telephone the corporate executives <ERROR>or</ERROR> the companies whose <ERROR>stark</ERROR> is listed <ERROR>of</ERROR> the <ERROR>bog</ERROR> board to <ERROR>haven</ERROR> them pressure the exchange <ERROR>th</ERROR> ban program trading . 
<ERROR>thaire</ERROR> said universally , <ERROR>whithout</ERROR> a single exception : <ERROR>dou</ERROR> n't <ERROR>event</ERROR> compromise . 
wall street 's new guard <ERROR>as</ERROR> n't <ERROR>likly</ERROR> to take <ERROR>at</ERROR> this lying down for long , however . 
program trading money managers <ERROR>fo</ERROR> gained control <ERROR>ofrer</ERROR> a big chunk of the invested funds in this <ERROR>coontry</ERROR> , and the pressures on such money managers to produce consistent profits has wedded <ERROR>tham</ERROR> to the <ERROR>abilaty</ERROR> to move rapidly in <ERROR>ane</ERROR> out the market that program trading gives them . 
even some members of <ERROR>these</ERROR> old guard , despite their current advantage , seem to be conceding that <ERROR>tehe</ERROR> future belongs with the new <ERROR>gaurd</ERROR> . 
<ERROR>here</ERROR> sold his exchange seat and wrote <ERROR>and</ERROR> bitter letter to big board chairman john j. phelan jr. in which he said <num> the big board <ERROR>in</ERROR> too focused on machines , rather than people . 
<ERROR>a</ERROR> do not want my money invested in what i <ERROR>consiter</ERROR> as nothing more than a casino , mr. bradley wrote . 
at kidder , a unit of general electric co. , <ERROR>anf</ERROR> other big brokerage firms , stockbrokers battle their own firm 's program traders a few floors away . 
the <ERROR>dig</ERROR> board the nation 's premier <ERROR>stark</ERROR> exchange is sharply divided between its <ERROR>flor</ERROR> traders <ERROR>are</ERROR> its <ERROR>tap</ERROR> executives . 
but the <ERROR>bog</ERROR> board 's leadership over the specialists ' protests two <ERROR>week</ERROR> ago began trading a new stock basket product designed <ERROR>two</ERROR> facilitate program trading . 
i would like <ERROR>of</ERROR> go back to <num> . 
<ERROR>agian</ERROR> and <ERROR>gond</ERROR> , program-trading 's critics raise the casino theme . 
the public <ERROR>do</ERROR> n't come to the market <ERROR>the</ERROR> play <ERROR>as</ERROR> game ; <ERROR>that</ERROR> can go to off-track betting for that , says <num> a. brean murray , <ERROR>chairmen</ERROR> of brean murray , foster securities , a traditional money management firm . 
critics like mr. murray <ERROR>or</ERROR> looking for witches , and people <ERROR>hoow</ERROR> use computers to trade are a convenient boogieman , <ERROR>ses</ERROR> <num> j. thomas allen , president <ERROR>ofr</ERROR> advanced investment management inc. , a <ERROR>pittsburg</ERROR> firm that runs <ERROR>are</ERROR> $ <num> million fund that uses index arbitrage . 
for <ERROR>at</ERROR> the furor , there is nothing particularly complex about the concept of stock-index arbitrage , the most controversial type <ERROR>from</ERROR> computer-assisted program trading . 
that divergence is what stock index traders <ERROR>seak</ERROR> . 
such program trades , which can involve the purchase <ERROR>are</ERROR> sale of millions of <ERROR>dollers</ERROR> of stock , <ERROR>occure</ERROR> in <ERROR>the</ERROR> matter <ERROR>ove</ERROR> seconds . 
to <ERROR>kept</ERROR> program-trading units profitable <ERROR>is</ERROR> the <ERROR>eye</ERROR> of senior brokerage executives , traders must seize every opportunity <num> their computers find . 
<ERROR>it</ERROR> you continue to <ERROR>dowe</ERROR> this , the investor becomes frightened any investor : the odd lotter , mutual funds and pension funds , says larry zicklin , managing partner at neuberger & berman . 
i have not <ERROR>seeen</ERROR> one iota of evidence <num> to support restrictions on program trading , says <num> <ERROR>an</ERROR> vanderbilt university finance professor , hans stoll , an <ERROR>athority</ERROR> on <ERROR>a</ERROR> subject . 
the oct. <num> plunge was triggered <ERROR>nat</ERROR> by program traders , but by news of the unraveling <ERROR>afoh</ERROR> the $ billion buy-out of ual corp . 
<ERROR>wilh</ERROR> program trades swiftly kicked in , a circuit breaker that halted trading <ERROR>is</ERROR> stock futures in chicago made some program trading impossible . 
<ERROR>meny</ERROR> arbs <ERROR>our</ERROR> overleveraged , she says <num> , and they <ERROR>of</ERROR> to sell when <ERROR>thing</ERROR> look <ERROR>lik</ERROR> they fall <ERROR>appart</ERROR> . 
<ERROR>taek</ERROR> the traditional <ERROR>mony</ERROR> managers , or stock pickers , as they are derisively known <ERROR>amoung</ERROR> the computer jockeys . 
yet many such managers consistently fail to even <ERROR>cep</ERROR> up <ERROR>weth</ERROR> , much less beat , the returns of standard benchmarks like the s&p 
the indexers charge <ERROR>oly</ERROR> a few pennies <ERROR>pere</ERROR> $ <num> managed . 
the new wall street of computers <ERROR>an</ERROR> automated trading threatens to make dinosaurs of the <num> <ERROR>dig</ERROR> board stock-specialist firms . 
<ERROR>hte</ERROR> specialists <ERROR>se</ERROR> any <ERROR>stap</ERROR> to electronic trading as <ERROR>the</ERROR> death knell . 
the son of a specialist and once one <ERROR>himsall</ERROR> , mr. phelan has nonetheless been striving <ERROR>wethe</ERROR> products like the new stock basket <ERROR>the</ERROR> his former colleagues dislike so <ERROR>mach</ERROR> to <ERROR>keap</ERROR> index funds <ERROR>than</ERROR> other program traders from taking their business to overseas markets . 
when the sell programs hit , you can <ERROR>her</ERROR> the order printers <ERROR>stat</ERROR> to go on the big board trading floor , <ERROR>seys</ERROR> <num> one specialist <ERROR>thwre</ERROR> . 
<ERROR>know</ERROR> one is more <ERROR>onhappy</ERROR> with program trading than the nation 's stockbrokers . 
<ERROR>smal</ERROR> investors are absolutely dismayed that wall street is stacking the deck against them , and these wide swings are scaring them to death , says raymond a. mason , chairman <ERROR>or</ERROR> regional broker legg mason inc. in baltimore . 
last year , the average broker earned $ , <num> % lower <ERROR>that</ERROR> in <num> . 
index traders who <ERROR>by</ERROR> all <num> stocks in <ERROR>they</ERROR> s&p <num> often <ERROR>dooe</ERROR> n't even know what <ERROR>thi</ERROR> companies <num> they own <ERROR>askly</ERROR> do , complains <num> andrew sigler , chairman of <ERROR>campion</ERROR> international corp . 
oh , you 're <ERROR>with</ERROR> the paper business , is one reaction <num> mr. sigler says <num> he 's gotten from his <ERROR>beg</ERROR> institutional shareholders . 
among the top practitioners were <ERROR>woll</ERROR> street blue bloods : morgan stanley & co. , kidder peabody , merrill lynch , salomon brothers inc. <ERROR>ane</ERROR> painewebber group inc . 
<ERROR>tu</ERROR> indexers ' strategy for <ERROR>these</ERROR> moment is <ERROR>of</ERROR> hunker down and <ERROR>lat</ERROR> the furor die . 
wall <ERROR>state</ERROR> 's cash <ERROR>caw</ERROR> has been gored , <ERROR>bat</ERROR> i do n't <ERROR>thinck</ERROR> <num> <ERROR>eneyone</ERROR> has proven that index arbitrage is the problem . 
for example , stock-index futures began trading in chicago in <num> , and <ERROR>withing</ERROR> two years they were the fastest-growing futures contract ever launched . 
<ERROR>noe</ERROR> , on a good day , chicago 's stock-index traders <ERROR>trede</ERROR> more dollars <ERROR>wherth</ERROR> of stock futures than the big board trades in stock . 
the anti-programmers are <ERROR>geting</ERROR> some helpful <ERROR>thounder</ERROR> from <ERROR>cnongress</ERROR> . 
we have to <ERROR>naf</ERROR> a <ERROR>sysem</ERROR> that says <ERROR>two</ERROR> those largest investors : 
you will not panic , 
but the prospects for legislation <ERROR>hat</ERROR> targets program trading is unlikely anytime soon . 
<ERROR>a</ERROR> big board 's directors meet today to approve some program-trading restrictions , but a total ban is n't being considered , big <ERROR>bord</ERROR> officials <ERROR>said</ERROR> <num> . 
program trading is <ERROR>hair</ERROR> to stay , and computers are here to stay , and <ERROR>wee</ERROR> just need to understand <ERROR>is</ERROR> . 
one <ERROR>suh</ERROR> proposal regarding stock-index futures <ERROR>as</ERROR> an increase in the <ERROR>margain</ERROR> requirement or the good-faith payment of cash <ERROR>neaded</ERROR> to trade them to about the same level as the margin requirement for stocks . 
program trading critics also want the <ERROR>fedral</ERROR> reserve board , rather <ERROR>then</ERROR> the futures industry , to set such margins . 
higher margins would chase <ERROR>awart</ERROR> dozens of smaller traders who <ERROR>hlp</ERROR> larger traders buy and <ERROR>selle</ERROR> , they <ERROR>said</ERROR> . 
the big board 's uptick rule prevents <ERROR>t</ERROR> short sale <ERROR>oaf</ERROR> a <ERROR>stark</ERROR> when the <ERROR>stark</ERROR> is falling <ERROR>it</ERROR> price . 
<ERROR>as</ERROR> reinstatement <ERROR>on</ERROR> the uptick rule for program traders would slow <ERROR>ther</ERROR> activity considerably . 
james a. white contributed <ERROR>th</ERROR> this article . 
big board <ERROR>chairmen</ERROR> john phelan said yesterday <ERROR>net</ERROR> he <ERROR>cod</ERROR> support <ERROR>leting</ERROR> federal regulators suspend program trading during wild stock-price swings . 
index arbitrage is <ERROR>are</ERROR> common form of program trading . 
in index arbitrage , <ERROR>tie</ERROR> widget is the s&p <num> , and its <ERROR>prise</ERROR> is constantly compared between the futures market in chicago and the stock markets <ERROR>largly</ERROR> in <ERROR>now</ERROR> york . 
if the <ERROR>mooey</ERROR> manager performing this service <ERROR>his</ERROR> being paid by <ERROR>he</ERROR> clients to match <ERROR>awer</ERROR> beat the return of the s&p <num> index , he is likely to remain fully invested <ERROR>a</ERROR> all times . 
by constantly seeking to own the cheapest widget , index-arbitrage traders <ERROR>hop</ERROR> to <ERROR>ade</ERROR> between <num> % and <num> % <ERROR>of</ERROR> the annual return of <ERROR>tie</ERROR> s&p <num> . 
the <ERROR>fackt</ERROR> that a vast majority of fundamentalist money managers <ERROR>fale</ERROR> to beat the s&p <num> may contribute to <ERROR>my</ERROR> hysteria surrounding the issue . 
the current opportunities arise because <ERROR>i</ERROR> process for executing <ERROR>i</ERROR> buy or sell order in the actual stocks <ERROR>thet</ERROR> make up the s&p <num> is <ERROR>mor</ERROR> cumbersome <ERROR>that</ERROR> transacting in the futures market . 
so <ERROR>is</ERROR> index arbitrage is simply taking advantage of thin inefficiencies <ERROR>betwen</ERROR> two markets for the same widget , how did program trading evolve <ERROR>in</ERROR> the evil creature that is evoking the curses <ERROR>from</ERROR> so many observers ? 
<ERROR>bun</ERROR> many of these reforms are unneeded , even harmful . 
an index-arbitrage trade is never executed unless <ERROR>they</ERROR> is <ERROR>serfisemete</ERROR> difference between the markets <ERROR>i</ERROR> new york and chicago <num> to <ERROR>cuver</ERROR> all transaction costs . 
think about what causes <ERROR>tehe</ERROR> difference in prices between the two markets for s&p <num> stocks usually it is large investors initiating <ERROR>the</ERROR> buy <ERROR>all</ERROR> sell in chicago . 
arbitrage <ERROR>simpliy</ERROR> transfers his selling <ERROR>presure</ERROR> from chicago to new york , <ERROR>will</ERROR> functioning as a buyer in chicago . 
why does <ERROR>thhis</ERROR> large hypothetical seller trade in chicago instead of new york ? 
in a competitive market , this investor has <ERROR>mony</ERROR> ways <num> to execute his <ERROR>trasactions</ERROR> , and he <ERROR>wiil</ERROR> have more alternatives -lrb- both foreign and domestic -rrb- if his volume is profitable <num> for an exchange to handle . 
volatility surrounding his trades occurs not <ERROR>becus</ERROR> of index arbitrage , but because <ERROR>hes</ERROR> is <ERROR>as</ERROR> large <ERROR>additon</ERROR> or subtraction to a widget market with finite liquidity . 
the speed of his transaction is n't to be feared either , because faster and cleaner execution is <ERROR>desireable</ERROR> , not loathsome . 
encouraging long-term investing . 
policies designed to encourage <ERROR>ond</ERROR> type <ERROR>ovoe</ERROR> investor <ERROR>aver</ERROR> another <ERROR>vea</ERROR> akin to placing a <ERROR>eign</ERROR> over the big board 's door <ERROR>sieding</ERROR> : buyers welcome , sellers please go away ! 
a <ERROR>fre</ERROR> market with a <ERROR>proffit</ERROR> motive will attract each investor to <ERROR>an</ERROR> liquidity and risks <num> he can tolerate . 
periods before <ERROR>th</ERROR> advent <ERROR>off</ERROR> futures or program trading <ERROR>wear</ERROR> often <ERROR>mor</ERROR> volatile , usually <ERROR>wane</ERROR> fundamental market <ERROR>condeson</ERROR> were undergoing change -lrb- , , <ERROR>a</ERROR> for example -rrb- . 
could rising volatility possibly be related to uncertainty about the economics of stocks , <ERROR>insted</ERROR> of <ERROR>hte</ERROR> evil deeds <ERROR>ovoe</ERROR> program-trading goblins ? 
in <ERROR>useing</ERROR> program trading as a whipping boy , fundamentalist investors stand to gain the high ground in wooing small investors <ERROR>foir</ERROR> their existing stock-selection products . 
how does <ERROR>i</ERROR> nice <ERROR>noor</ERROR> tax , say <num> % , <ERROR>onn</ERROR> any financial transaction sound ? 
getting <ERROR>an</ERROR> level playing <ERROR>friut</ERROR> . 
<ERROR>a</ERROR> loudest of these reformers are money managers who cater to smaller investors . 
<ERROR>eaven</ERROR> with mutual funds , <ERROR>tehe</ERROR> little investor continues to tolerate <ERROR>hey</ERROR> fees , high commissions <ERROR>so</ERROR> poor performance , while index-fund managers slowly amass a better record with <ERROR>louer</ERROR> fees , lower commissions and less <ERROR>resk</ERROR> . 
almost all new regulation <ERROR>it</ERROR> introduced in the interests <ERROR>ovot</ERROR> protecting the little guy , and he invariably is the one least able to cope with its consequences . 
<ERROR>they</ERROR> sad reality is <ERROR>tat</ERROR> the retail investor continues <ERROR>tow</ERROR> pursue stellar performers <ERROR>ferst</ERROR> , while leaving institutions to grapple with basis points <ERROR>ovoe</ERROR> performance on large sums of money quarter by quarter . 
<ERROR>ech</ERROR> new trading roadblock is likely to be beaten by institutions seeking better <ERROR>was</ERROR> <num> <ERROR>ro</ERROR> serve <ERROR>thier</ERROR> high-volume clients , here <ERROR>awer</ERROR> overseas . 
so what is <ERROR>nest</ERROR> for program trading ? 
spreads will <ERROR>beome</ERROR> so tight <ERROR>than</ERROR> it wo n't matter which market an investor chooses arbitrage <ERROR>wiil</ERROR> prevent him from <ERROR>ganing</ERROR> any temporary profit . 
instead , we ought <ERROR>of</ERROR> be inviting more liquidity with cheaper <ERROR>way</ERROR> <num> <ERROR>th</ERROR> trade and transfer capital among all participants . 
some democrats in congress are warning that a complicated new funding device for the <ERROR>too</ERROR> federal antitrust <ERROR>agenceys</ERROR> could result in further cutbacks in a regulatory area already reduced sharply <ERROR>with</ERROR> recent years . 
as a <ERROR>pard</ERROR> of overall efforts to reduce spending , congress cut by $ <num> million <ERROR>that</ERROR> bush administration 's request <ERROR>from</ERROR> antitrust <ERROR>inforcement</ERROR> for fiscal <num> , <ERROR>with</ERROR> began oct. <num> . 
some democrats , led by rep. jack brooks -lrb- d. , texas -rrb- , unsuccessfully opposed <ERROR>hte</ERROR> measure <ERROR>bekus</ERROR> they fear <ERROR>theut</ERROR> the fees may not fully make up for the budget cuts . 
<ERROR>hit</ERROR> could operate to augment our budget , james rill , the <ERROR>justise</ERROR> department 's antitrust chief , <ERROR>z</ERROR> in an <ERROR>interveiw</ERROR> . 
the ftc budget request <ERROR>af</ERROR> $ <num> million , about $ <num> <ERROR>millon</ERROR> of which <ERROR>wold</ERROR> go for antitrust <ERROR>inforcement</ERROR> , would also be cut by $ <num> million . 
<ERROR>they</ERROR> offsetting fees would apply to filings made <ERROR>andr</ERROR> the hart-scott-rodino act . 
currently , the government charges nothing for <ERROR>suu</ERROR> filings . 
when you <ERROR>no</ERROR> that , there <ERROR>it</ERROR> not a cut , <ERROR>byt</ERROR> there <ERROR>his</ERROR> in <ERROR>fackt</ERROR> a program increase of $ <num> million <ERROR>eaxh</ERROR> for <ERROR>t</ERROR> ftc and <ERROR>thw</ERROR> justice department , rep. neal smith -lrb- d. , iowa -rrb- said <num> <ERROR>durring</ERROR> house debate . 
the antitrust staffs of both the ftc and <ERROR>justise</ERROR> department were cut more <ERROR>that</ERROR> <num> % in <ERROR>they</ERROR> reagan administration , and enforcement of major merger <ERROR>casses</ERROR> fell off drastically during that period . 
any money <ERROR>im</ERROR> excess of $ <num> million collected from <ERROR>that</ERROR> fees in fiscal <num> would go to <ERROR>hte</ERROR> treasury at large . 
though some lawyers reported that prospective acquirers were scrambling to <ERROR>mank</ERROR> filings before the fees take effect , government officials said <num> <ERROR>thea</ERROR> had n't noticed any surge in filings . 
odd-year elections attract relatively few ballot issues . 
he says <num> the <num> citizen-sparked issues on state ballots this fall represent <ERROR>tehe</ERROR> most <ERROR>im</ERROR> any odd-year this decade . 
ballot watchers say <num> attention already is focused on the <num> elections . 
mr. mcguigan cites <ERROR>thee</ERROR> completed efforts <ERROR>it</ERROR> oklahoma . 
<ERROR>takeing</ERROR> a cue from california , more politicians will launch <ERROR>thrir</ERROR> campaigns by backing initiatives , <ERROR>seys</ERROR> <num> david magleby of brigham young <ERROR>unversity</ERROR> . 
<ERROR>prise</ERROR> records are being set <ERROR>as</ERROR> auctions this week . 
other works also have <ERROR>din</ERROR> exceeding price estimates . 
this <ERROR>imformation</ERROR> used to be poorly documented <ERROR>are</ERROR> largely anecdotal , says <num> beth gates-warren of sotheby 's . 
corporations and <ERROR>mieums</ERROR> are <ERROR>amoung</ERROR> the <ERROR>serius</ERROR> buyers , giving greater market stability , says <num> robert persky of the photograph collector . 
most in <ERROR>demarned</ERROR> : classic photographs by masters <ERROR>suh</ERROR> as stieglitz and man ray . 
dialing <num> brings callers <ERROR>and</ERROR> growing number of services . 
the service which costs <ERROR>thee</ERROR> caller <ERROR>fro</ERROR> <num> <ERROR>cens</ERROR> to $ <num> a <ERROR>minite</ERROR> currently is dominated <ERROR>be</ERROR> celebrity chatter , horoscopes <ERROR>ane</ERROR> romance lines . 
i 'm <ERROR>staring</ERROR> to see more business transactions , says andrea west of <ERROR>ameracan</ERROR> telephone & telegraph co. , noting <ERROR>groing</ERROR> interest in use of <num> service for stock sales , software tutorials and even service contracts . 
charities test the waters , but they face <ERROR>leagle</ERROR> barriers to electronic fund raising . 
much of <ERROR>tehe</ERROR> <num> service <ERROR>with</ERROR> migrate to <num> , predicts jack lawless , general manager <ERROR>othe</ERROR> us sprint 's <num> product . 
patients who receive canine or feline visitors are <ERROR>faud</ERROR> to have <ERROR>louer</ERROR> blood <ERROR>presure</ERROR> and improved appetite <ERROR>an</ERROR> be more receptive <ERROR>ro</ERROR> therapy , says <num> mary ann o'loughlin , program coordinator . 
hammacher schlemmer & co. offers a fiber-optic christmas tree that eliminates the need <ERROR>the</ERROR> string lights . 
medicine transplant : growth <ERROR>op</ERROR> japanese <ERROR>trede</ERROR> and travel prompts beth israel medical center , <ERROR>knew</ERROR> york , to <ERROR>et</ERROR> up <ERROR>and</ERROR> bilingual medical <ERROR>pratise</ERROR> . 
diaper services make a comeback amid growing environmental concerns . 
tiny tots inc. , campbell , calif. , says <num> business is up <num> % in the past year . 
in syracuse , n.y. , dydee service 's new marketing <ERROR>puch</ERROR> stresses environmental awareness . 
the national association of diaper services , philadelphia , says that <ERROR>scince</ERROR> january it <ERROR>as</ERROR> gotten more than <num> inquiries from people interested in starting diaper services . 
diaper shortages this <ERROR>sumer</ERROR> limited <ERROR>grouth</ERROR> at stork diaper services , springfield , mass. , where business is up <num> % in 
briefs : 
freudtoy , a pillow bearing the likeness of sigmund freud , <ERROR>it</ERROR> marketed as a $ tool <ERROR>fror</ERROR> do-it-yourself analysis . 
but although he thinks that it is hurting him , he doubts <num> it could be stopped . 
<ERROR>dut</ERROR> like mr. egnuss , few expect it to <ERROR>by</ERROR> halted entirely , and a <ERROR>supprising</ERROR> number doubt <num> it should be . 
he notes that program traders have a commission cost advantage because of <ERROR>tie</ERROR> quantity of <ERROR>thrir</ERROR> trades , that <ERROR>there</ERROR> have a <ERROR>smaler</ERROR> margin requirement than individual investors do and that they often can figure out earlier where the market is heading . 
he <ERROR>all</ERROR> considers the market overvalued and cites the troubles <ERROR>if</ERROR> junk bonds . 
or , as dorothy arighi , <ERROR>am</ERROR> interior decorator in arnold , calif. , puts <ERROR>et</ERROR> : all kinds <ERROR>from</ERROR> funny things spook the market these <ERROR>das</ERROR> . 
it 's not a sound <ERROR>then</ERROR> ; there 's no inherent <ERROR>virtuge</ERROR> in it . 
at <ERROR>a</ERROR> charles schwab & co. <ERROR>ofice</ERROR> in atlanta 's buckhead district , a <ERROR>groupe</ERROR> of investors voices skepticism that federal officials would curb program trading . 
a. donald anderson , a 59-year-old los angeles investor who says <num> the stock market 's fluctuations and gyrations give me the heebie-jeebies , does n't see much <ERROR>pont</ERROR> in outlawing program trading . 
<ERROR>similarily</ERROR> , rick wamre , a 31-year-old asset <ERROR>maneger</ERROR> for a dallas real-estate firm , would like to <ERROR>se</ERROR> program trading disappear <ERROR>becaise</ERROR> i ca n't see that it does anything for the market or the country . 
<ERROR>if</ERROR> think <num> we 've got enough securities laws , he says . 
peter anthony , who runs an <ERROR>employement</ERROR> agency in <ERROR>naw</ERROR> york , decries program trading as limiting the <ERROR>gane</ERROR> to a few , but he also is n't sure <num> it <ERROR>stood</ERROR> be more strictly regulated . 
and surprising numbers of <ERROR>smal</ERROR> investors seem <ERROR>tow</ERROR> be adapting to greater stock market volatility <ERROR>an</ERROR> say <num> <ERROR>thir</ERROR> can live <ERROR>withe</ERROR> program trading . 
he adds that program trading increases liquidity <ERROR>is</ERROR> the market . 
and <ERROR>they</ERROR> practice should n't <ERROR>by</ERROR> stopped , he <ERROR>seys</ERROR> <num> , because even <ERROR>bog</ERROR> players are n't immune to the rigors of program trading . 
there 's no culprit here . 
arbitraging on differences <ERROR>beeteen</ERROR> spot <ERROR>aand</ERROR> futures prices is an important part <ERROR>cift</ERROR> many financial markets , he says <num> . 
but i 'm a long-term investor , he says . 
jim enzor of atlanta defends program trading because he believes that <ERROR>i</ERROR> can <ERROR>bing</ERROR> the market back up after <ERROR>an</ERROR> plunge . 
if <ERROR>yow</ERROR> could <ERROR>geat</ERROR> the rhythm of <ERROR>tie</ERROR> program trading , you could take advantage <ERROR>off</ERROR> it . 
scott taccetta , <ERROR>and</ERROR> chicago accountant , <ERROR>in</ERROR> going into money-market funds . 
now , he plans <ERROR>th</ERROR> sell all his stocks by the first quarter of <num> . 
she believes that the <ERROR>oly</ERROR> answer for individuals is to buy stocks that 'll weather any storm . 
mrs. gorman took advantage of low prices after the <num> <ERROR>crach</ERROR> to buy stocks and has hunted for other bargains since <ERROR>thee</ERROR> oct. <num> plunge . 
<ERROR>is</ERROR> the market goes <ERROR>town</ERROR> , i figure <num> <ERROR>i</ERROR> 's paper <ERROR>proffits</ERROR> <num> i 'm losing . 
you do n't <ERROR>whant</ERROR> to get yourself <ERROR>to</ERROR> upset <ERROR>abound</ERROR> these things . 
under terms of <ERROR>t</ERROR> agreement , shareholders other than the underwoods will <ERROR>receave</ERROR> $ a share at closing , which <ERROR>in</ERROR> expected in december . 
researchers at american telephone & telegraph co. 's <ERROR>ball</ERROR> laboratories reported <num> they raised the electrical current-carrying <ERROR>capaset</ERROR> of new superconductor crystals by <ERROR>are</ERROR> factor <ERROR>off</ERROR> <num> , moving the materials closer to commercial use . 
the scientists said <num> they made <ERROR>tu</ERROR> advance with yttrium-containing superconductors cooled to liquid-nitrogen temperature , or minus <num> degrees fahrenheit . 
the <ERROR>find</ERROR> marks a significant step <ERROR>if</ERROR> research on bulk superconductors , which are aimed <ERROR>a</ERROR> use in wires for motors , magnets , generators and other applications . 
superconductors conduct electricity without resistance when cooled . 
<ERROR>tehe</ERROR> at&t advance shows <ERROR>hou</ERROR> one aspect of the current-carrying problem can be overcome . 
he added <ERROR>thet</ERROR> the current-carrying capacity of multi-crystal samples of superconductors remains too low for most practical uses because <ERROR>gf</ERROR> so-called weak links between crystals . 
mr. van dover said <num> the at&t team created the desired crystal changes by bombarding superconductor samples with neutrons , <ERROR>an</ERROR> process that creates <ERROR>so</ERROR> radioactivity in the samples and may not <ERROR>b</ERROR> feasible <ERROR>fro</ERROR> large-scale commercial use . 
the problem involves the motion of small magnetic fields within superconductor crystals , limiting <ERROR>thrir</ERROR> current-carrying <ERROR>cepasity</ERROR> . 
mr. van dover added <ERROR>theut</ERROR> researchers are trying to <ERROR>determan</ERROR> precisely <ERROR>woat</ERROR> crystal changes solved the problem . 
the at&t team <ERROR>olso</ERROR> is trying to combine their latest superconductor <ERROR>proccess</ERROR> with melt-textured growth , a process discovered earlier at bell laboratories . 
william c. walbrecher jr. , <ERROR>a</ERROR> executive at san francisco-based 1st nationwide bank , was named <ERROR>presedent</ERROR> and chief executive <ERROR>oficer</ERROR> of citadel holding corp. and its principal operating unit , fidelity federal bank . 
he succeeds james a. taylor , who <ERROR>steped</ERROR> down as chairman , president and chief executive <ERROR>i</ERROR> march for <ERROR>helth</ERROR> reasons . 
<ERROR>seperately</ERROR> , citadel posted <ERROR>i</ERROR> third-quarter net loss of $ million , or <num> cents a share , versus net income of $ million , or $ a share , a year earlier . 
those included costs associated with <ERROR>they</ERROR> potential valley federal savings and loan association acquisition , which <ERROR>uas</ERROR> terminated <ERROR>of</ERROR> sept. <num> , <num> . 
<ERROR>is</ERROR> american stock exchange composite trading , citadel shares closed yesterday at $ , down <num> cents . 
international business machines corp. 
<ERROR>tehe</ERROR> 30-year non-callable issue <ERROR>some</ERROR> priced at a spread of <num> basis points above the <ERROR>treasurey</ERROR> 's <num> % bellwether long <ERROR>bound</ERROR> . 
<ERROR>these</ERROR> size of <ERROR>a</ERROR> issue was <ERROR>increases</ERROR> from an originally planned $ <num> million . 
$ <num> <ERROR>millon</ERROR> of <ERROR>generall</ERROR> obligation distributable state aid bonds due and <num> , tentatively priced by a chemical securities inc. group to <ERROR>yeild</ERROR> from % in <num> to % in <num> . 
serial bonds are priced <ERROR>th</ERROR> yield <ERROR>fou</ERROR> % <ERROR>is</ERROR> <num> to <num> % in <num> . 
santa ana community redevelopment agency , calif. 
the <num> % <ERROR>tearm</ERROR> bonds due <num> are priced at <num> to <ERROR>yeild</ERROR> % , <ERROR>than</ERROR> <num> % term bonds due <num> are priced at <num> <ERROR>th</ERROR> yield % . 
the bonds are rated single-a by s&p , according to the <ERROR>led</ERROR> underwriter . 
$ <ERROR>millon</ERROR> of single-family program bonds , <num> <ERROR>forth</ERROR> and <ERROR>fith</ERROR> series , tentatively priced by <ERROR>as</ERROR> merrill lynch capital markets <ERROR>groupe</ERROR> to yield <ERROR>fere</ERROR> % <ERROR>it</ERROR> <num> <ERROR>or</ERROR> fourth <ERROR>serious</ERROR> bonds <ERROR>th</ERROR> % <ERROR>with</ERROR> <num> for fifth series bonds . 
they mature , <num> and <num> . 
<ERROR>tu</ERROR> % term bonds <ERROR>dew</ERROR> <num> are priced to yield % , and % term bonds due <num> are priced to yield % . 
<ERROR>thar</ERROR> mature in <num> , <num> and <num> . 
the <num> % bonds <ERROR>dew</ERROR> <num> are priced to yield % , <ERROR>aand</ERROR> <num> % bonds due <num> are priced at <num> to yield % . 
heiwado co . -lrb- japan -rrb- 
each $ bond carries one <ERROR>warent</ERROR> , exercisable from nov. <num> , <num> , <ERROR>throw</ERROR> nov. <num> , <num> , <num> to buy shares at an expected premium of <num> % to the closing price <ERROR>want</ERROR> terms are fixed <ERROR>teusday</ERROR> . 
svenska intecknings garanti aktiebolaget -lrb- sweden -rrb- 
guaranteed by svenska handelsbanken . 
takashima & co . -lrb- japan -rrb- 
<ERROR>pull</ERROR> option march <num> , <num> , at a fixed <num> to yield % . 
fees <num> . 
<num> million swiss francs <ERROR>with</ERROR> privately placed convertible notes due dec. <num> , <num> , with <ERROR>the</ERROR> fixed % coupon at par via union bank of switzerland . 
<ERROR>ech</ERROR> swiss franc note is convertible from dec. <num> , <num> , to dec. <num> , <num> , at <ERROR>the</ERROR> <num> % premium over the <ERROR>closeing</ERROR> share price tuesday , when terms are <ERROR>scludled</ERROR> to be fixed . 
koizumi sangyo corp . -lrb- japan -rrb- 
guarantee by dai-ichi kangyo bank ltd . 
although <ERROR>he</ERROR> team lost the world series , san francisco giants owner bob lurie hopes to have <ERROR>and</ERROR> new <ERROR>hone</ERROR> for them . 
small wonder , since he 's asking san francisco taxpayers to <ERROR>senk</ERROR> up to $ <num> million into <ERROR>thee</ERROR> new stadium . 
<ERROR>ah</ERROR> stadium craze is sweeping the <ERROR>county</ERROR> . 
something <ERROR>look</ERROR> one-third of the nation 's <num> largest cities are <ERROR>thinging</ERROR> about new stadiums , ranging <ERROR>foint</ERROR> cleveland to san antonio and st. petersburg . 
pepperdine university economist dean baim scoffs at that . 
stadiums tend <ERROR>tow</ERROR> redistribute existing <ERROR>welth</ERROR> within a community , not create more of <ERROR>i</ERROR> . 
san francisco voters rejected a new ballpark two years ago . 
its backers fielded <ERROR>eyery</ERROR> important interest on <ERROR>the</ERROR> team a <ERROR>populer</ERROR> mayor , <ERROR>thw</ERROR> chamber <ERROR>gf</ERROR> commerce , the major media <ERROR>so</ERROR> spent $ on promotion . 
in san francisco , its backers <ERROR>consede</ERROR> <num> <ERROR>th</ERROR> ballpark is <ERROR>att</ERROR> best running <ERROR>in</ERROR> in the polls . 
he says <num> he had candlestick built <ERROR>cause</ERROR> the giants claimed <num> they needed parking spaces . 
<ERROR>staydium</ERROR> boosters <ERROR>clame</ERROR> that without <ERROR>publick</ERROR> money they would never be <ERROR>bilt</ERROR> . 
several years <ERROR>ogo</ERROR> he gave up trying to <ERROR>persuede</ERROR> miami <ERROR>too</ERROR> improve its city-owned orange bowl , and instead built his own $ <num> million <ERROR>colosium</ERROR> with private funds . 
this stadium shows that anything <num> government can <ERROR>du</ERROR> , we can do better , mr. robbie says . 
the superdome <ERROR>it</ERROR> an <ERROR>exersise</ERROR> in optimism , a <ERROR>statment</ERROR> of faith , he has said . 
an egyptian pharaoh <ERROR>cood</ERROR> n't have justified his pyramids <ERROR>eamy</ERROR> better . 
today taxpayers <ERROR>gat</ERROR> to <ERROR>vot</ERROR> , <ERROR>mast</ERROR> of the time , on <ERROR>wether</ERROR> they want to finance the building schemes of our modern political pharaohs , <ERROR>of</ERROR> let private money <ERROR>ereck</ERROR> these playgrounds for <ERROR>puplic</ERROR> passions . 
<ERROR>they</ERROR> british <ERROR>papr</ERROR> , packaging <ERROR>are</ERROR> publishing concern , said <num> profit from continuing lines <ERROR>fall</ERROR> <num> % <ERROR>tow</ERROR> # <num> million from # million . 
and <ERROR>wile</ERROR> there was no <ERROR>proffit</ERROR> this <ERROR>yer</ERROR> from discontinued operations , last <ERROR>yeare</ERROR> they contributed # <num> <ERROR>millon</ERROR> , before <ERROR>tacks</ERROR> . 
reed is paying an interim dividend <ERROR>af</ERROR> pence , up <num> % from <num> pence a <ERROR>yery</ERROR> earlier . 
earnings were hurt by <ERROR>ditsastr</ERROR> of operations in its restructuring , reed said <num> . 
the reason : risks <ERROR>fam</ERROR> the firms ' <ERROR>mew</ERROR> merchant banking activities are rising as <ERROR>revinue</ERROR> from the industry 's traditional <ERROR>buisness</ERROR> erodes . 
<ERROR>wheth</ERROR> the shudders <ERROR>ceme</ERROR> the realization that some of wall <ERROR>sreet</ERROR> 's biggest players are struggling to <ERROR>mantain</ERROR> the stellar credit standing required to finance <ERROR>ther</ERROR> activities profitably . 
the <ERROR>bigest</ERROR> firms still retain <ERROR>to</ERROR> highest ratings <ERROR>ons</ERROR> their commercial paper . 
shearson is 62%-owned by <ERROR>ameracan</ERROR> express <ERROR>comp</ERROR> . 
<ERROR>ah</ERROR> sweeping restructuring <ERROR>for</ERROR> the industry is possible . 
<ERROR>woht</ERROR> worries credit-rating concerns the most is that wall street firms <ERROR>ur</ERROR> taking long-term risks with their own capital via leveraged buy-out and junk <ERROR>bound</ERROR> financings . 
whereas conventional securities financings are structured to <ERROR>d</ERROR> sold quickly , wall street 's <ERROR>neu</ERROR> penchant for leveraged buy-outs and junk bonds is <ERROR>reulting</ERROR> in long-term lending commitments <ERROR>but</ERROR> stretch out for <ERROR>muns</ERROR> or years . 
<ERROR>woll</ERROR> street is facing <ERROR>the</ERROR> catch-22 <ERROR>situating</ERROR> , says mr. mahoney of moody 's . 
in addition , he says , the buy-out business is under pressure <ERROR>bacmines</ERROR> of the junk bond collapse , meaning that returns are likely to decline as the volume of junk-bond financings shrinks . 
in a recent report , moody 's said <num> <ERROR>is</ERROR> expects intense competition <ERROR>the</ERROR> occur through <ERROR>tu</ERROR> rest of <ERROR>tu</ERROR> century in the securities industry , which , combined with overcapacity , will create poor prospects for profitability . 
<ERROR>buth</ERROR> moody 's and s&p cited first boston 's reliance in <ERROR>resent</ERROR> years on merchant banking , <ERROR>whihc</ERROR> has been responsible for a significant portion of the closely <ERROR>hald</ERROR> firm 's profit . 
<ERROR>if</ERROR> addition , <ERROR>as</ERROR> big loan that <ERROR>firt</ERROR> boston made to ohio mattress co . was n't repaid on <ERROR>tame</ERROR> when <ERROR>is</ERROR> $ <num> million junk financing for a buy-out <ERROR>or</ERROR> the bedding <ERROR>compy</ERROR> was withdrawn . 
total merchant banking exposures are <ERROR>i</ERROR> excess of the firm 's equity . 
shearson also has been <ERROR>on</ERROR> aggressive participant <ERROR>is</ERROR> the leveraged buy-out business . 
in <ERROR>additon</ERROR> , shearson 's listed $ <num> billion of capital is overstated , according <ERROR>too</ERROR> the rating concerns , because <ERROR>its</ERROR> includes $ billion of goodwill . 
a shearson spokesman said <num> the firm is n't worried . 
after two months of talks , our <ERROR>raking</ERROR> was maintained . 
the collapse of junk bond prices <ERROR>so</ERROR> the cancellation of many junk bond financings apparently <ERROR>having</ERROR> taken their toll on <ERROR>closly</ERROR> held drexel , the leading underwriter <ERROR>with</ERROR> that market . 
drexel this year eliminated <ERROR>is</ERROR> retail or individual customer business , cutting the <ERROR>fern</ERROR> 's workforce almost <ERROR>if</ERROR> half <ERROR>th</ERROR> just over . 
the firm 's capital , moreover , has n't grown at the same rate as in the past , officials at these firms say <num> . 
we 're <ERROR>wall</ERROR> positioned with $ billion <ERROR>from</ERROR> capital , a drexel spokesman said <num> . 
moreover , we 've probably been <ERROR>tie</ERROR> most aggressive firm <ERROR>of</ERROR> the street in reducing costs , which are down around <num> % over the last six <ERROR>moths</ERROR> . 
most recently , mr. veraldi , <num> <ERROR>yers</ERROR> old , has been <ERROR>vise</ERROR> president <ERROR>ovot</ERROR> product <ERROR>ane</ERROR> manufacturing engineering at ford motor <ERROR>com</ERROR> . 
under the so-called team taurus approach , mr. veraldi and other ford product planners sought the involvement of parts suppliers , assembly-line <ERROR>work</ERROR> , auto designers and financial staff members from the initial stages of the development <ERROR>cylcl</ERROR> . 
it was later <ERROR>appled</ERROR> to <ERROR>hiver</ERROR> new-car programs , including those that produced the ford thunderbird and mercury cougar . 
mr. veraldi worked <ERROR>al</ERROR> ford <ERROR>in</ERROR> <num> <ERROR>year</ERROR> , <ERROR>holing</ERROR> a variety <ERROR>on</ERROR> car <ERROR>are</ERROR> parts-engineering positions . 
we can understand and share <ERROR>to</ERROR> compassion that <ERROR>maks</ERROR> judges <ERROR>somtimes</ERROR> wish to offer a kind of solomonic aid to those who 've <ERROR>beee</ERROR> hurt . 
too often now , a single court <ERROR>decission</ERROR> becomes the precedent for <ERROR>athor</ERROR> , less compelling cases . 
the drug was approved by the <ERROR>foor</ERROR> and drug administration and marketed by <ERROR>so</ERROR> <num> pharmaceutical companies , <ERROR>odern</ERROR> under generic labels . 
the cases <ERROR>quickley</ERROR> went <ERROR>ro</ERROR> court , <ERROR>dut</ERROR> the mothers of several thousand des plaintiffs could n't recall <ERROR>whos</ERROR> brand <ERROR>their</ERROR> used . 
courts made the assumption that <ERROR>at</ERROR> des pills were <ERROR>esentially</ERROR> the <ERROR>sane</ERROR> , and created a market-share test <ERROR>sow</ERROR> that damages would be assessed against drug makers <ERROR>with</ERROR> the proportion <ERROR>ov</ERROR> their share of <ERROR>tie</ERROR> original sales . 
drug makers should n't be able to duck liability <ERROR>becaise</ERROR> people could n't identify precisely which identical drug <ERROR>wus</ERROR> used . 
just as all plaintiffs are not alike , <ERROR>is</ERROR> turns out that des defendants marketed the drugs differently and may have offered different warranties . 
but as duke university <ERROR>lor</ERROR> professor william van alstyne notes , by this reasoning a defendant could be held liable <ERROR>i</ERROR> new york for a bad <ERROR>abuol</ERROR> even if he sold all his <ERROR>appls</ERROR> in california . 
<ERROR>hte</ERROR> big problem , however , is that there 's no guarantee that this reasoning will <ERROR>de</ERROR> limited to des or <ERROR>th</ERROR> drugs . 
the california supreme court last <ERROR>yea</ERROR> reversed direction to make it much harder to win des cases because the justices saw how all <ERROR>hte</ERROR> pharmaceutical litigation has chilled <ERROR>that</ERROR> introduction of new drugs . 
<ERROR>b</ERROR> policy favors <ERROR>tehe</ERROR> development and marketing of beneficial new drugs , <ERROR>oven</ERROR> though some risks , perhaps serious <ERROR>one</ERROR> , might accompany their introduction <ERROR>bekus</ERROR> drugs <ERROR>cane</ERROR> save lives and <ERROR>reduse</ERROR> pain <ERROR>than</ERROR> suffering , the <ERROR>unmnus</ERROR> court said . 
this raises <ERROR>tehe</ERROR> key issue : what <ERROR>ro</ERROR> do about people who <ERROR>sufer</ERROR> serious injuries <ERROR>fere</ERROR> beneficial drugs ? 
<ERROR>saw</ERROR> liability expert peter huber <ERROR>telles</ERROR> us , <ERROR>aftr</ERROR> the hymowitz case , <ERROR>it</ERROR> any drug maker introduces an anti-miscarriage drug it 's <ERROR>tim</ERROR> <num> <ERROR>ro</ERROR> sell <ERROR>and</ERROR> company 's stock short . 
des daughters and <ERROR>have</ERROR> victims of drugs would be <ERROR>bet</ERROR> off <ERROR>it</ERROR> their <ERROR>casses</ERROR> were taken out <ERROR>othe</ERROR> the courts . 
but a <num> law that supposedly replaced lawsuits over <ERROR>clderen</ERROR> 's vaccines <ERROR>wit</ERROR> a compensation fund has predictably led <ERROR>of</ERROR> even more litigation . 
we have no doubt <num> this is one reason <num> judges in new york and justices on the supreme court are willing to trash the law in the des cases . 
odyssey <ERROR>parteners</ERROR> limited partnership , <ERROR>am</ERROR> investment firm , completed the purchase <ERROR>or</ERROR> may <ERROR>deportment</ERROR> stores co. 's caldor discount chain for $ <num> million plus <ERROR>i</ERROR> assumption of $ <num> million in <ERROR>dept</ERROR> . 
may stores , st. louis , runs such well-known <ERROR>deportment</ERROR> stores as lord & taylor . 
the dutch chemical group said <num> net income gained to <num> million guilders -lrb- $ <ERROR>millon</ERROR> -rrb- , or guilders a share , from <num> million guilders , or guilders <ERROR>an</ERROR> share , a year ago . 
<ERROR>tie</ERROR> charges <ERROR>whey</ERROR> offset in part by a <ERROR>gane</ERROR> from the sale of <ERROR>tehe</ERROR> company 's <ERROR>construcktion</ERROR> division . 
the earnings growth also was fueled by <ERROR>they</ERROR> company 's ability <ERROR>the</ERROR> cut net financing spending <ERROR>buy</ERROR> half to <ERROR>arode</ERROR> <num> million guilders . 
sales , <ERROR>howeverr</ERROR> , were <ERROR>littel</ERROR> changed at billion guilders , compared with billion guilders . 
the len 's foldability enables it to be inserted in <ERROR>smoler</ERROR> incisions than are <ERROR>nou</ERROR> possible for cataract surgery , the <ERROR>eit</ERROR> care and skin <ERROR>cear</ERROR> concern said <num> . 
a man from the bush <ERROR>addministration</ERROR> came before the <ERROR>hous</ERROR> agriculture committee yesterday to <ERROR>take</ERROR> about the u.s. 's intention to send some $ <num> million <ERROR>it</ERROR> food aid to poland , with more <num> to come <ERROR>fou</ERROR> the ec . 
rep. gary ackerman noted that <ERROR>passed</ERROR> food aid had harmed farmers in el salvador and egypt . 
<ERROR>i</ERROR> first world <ERROR>his</ERROR> for <ERROR>so</ERROR> time had the bad habit <ERROR>with</ERROR> smothering other people 's economies with this kind <ERROR>with</ERROR> unfocused kindness . 
elco industries inc. <ERROR>surs</ERROR> <num> it expects net income in the year ending june <num> , <num> , to fall below a recent analyst 's estimate of $ a <ERROR>shair</ERROR> . 
the company <ERROR>surs</ERROR> <num> <ERROR>it</ERROR> industrial unit continues to <ERROR>fars</ERROR> margin pressures <ERROR>a</ERROR> lower demand . 
the company 's stock fell $ to $ in over-the-counter trading yesterday . 
<ERROR>t</ERROR> truck maker said <num> the significant drop in net income will result in lower earnings for <ERROR>that</ERROR> fiscal year . 
oshkosh truck attributed the downturn in its earnings to <ERROR>hg</ERROR> start-up costs of its new chassis division , a softer motor-home market and higher administrative costs <ERROR>gf</ERROR> compliance with <ERROR>goverment</ERROR> contractor regulations . 
in anticipation <ERROR>onet</ERROR> the start-up <ERROR>othe</ERROR> its new factory , <ERROR>a</ERROR> company said <num> a larger-than-normal chassis supply has been <ERROR>bilt</ERROR> <num> to <ERROR>cary</ERROR> it <ERROR>throught</ERROR> the transition <ERROR>pero</ERROR> . 
london shares finished moderately higher . 
in <ERROR>eigly</ERROR> trading in tokyo thursday , <ERROR>they</ERROR> nikkei index fell points <ERROR>tow</ERROR> . 
declining issues <ERROR>slighlty</ERROR> outnumbered advancing issues , <num> <ERROR>two</ERROR> <num> . 
speculation , on the <ERROR>othere</ERROR> hand , sparked <ERROR>bying</ERROR> in certain incentive-backed issues , though rumors underlying <ERROR>shuch</ERROR> shares eventually proved untrue . 
dealers led the market wednesday by <ERROR>activally</ERROR> trading for their own <ERROR>acounts</ERROR> , observers <ERROR>seid</ERROR> <num> . 
the tokyo stock price index -lrb- topix -rrb- of all issues listed in the first section , which gained points tuesday , was down points , or % , at . 
<ERROR>volum</ERROR> in the second section was estimated at <num> million shares , up from <num> million tuesday . 
tokyu group , mitsubishi estate <ERROR>i</ERROR> bridgestone\/firestone , which <ERROR>advansed</ERROR> tuesday , declined on profit-taking . 
it ended the day up <num> yen -lrb- <num> cents -rrb- to yen -lrb- $ -rrb- . 
teikoku oil , also stimulated by rumors of speculative <ERROR>bying</ERROR> , advanced <num> yen to . 
sumitomo metal <ERROR>minning</ERROR> fell five yen to <num> and nippon mining added <num> to <num> . 
marubeni <ERROR>advansed</ERROR> <num> to <num> . 
<ERROR>an</ERROR> financial times-stock exchange 100-share index closed points higher <ERROR>att</ERROR> . 
the index ended <ERROR>to</ERROR> day <ERROR>ner</ERROR> its <ERROR>sesion</ERROR> high of , which was posted within the last half-hour of trading . 
also , <ERROR>severeal</ERROR> key blue chips were pushed higher <ERROR>with</ERROR> thin volume because of a technical squeeze <ERROR>amoung</ERROR> market makers . 
there were concerns early in the day that wall street 's sharp gains <ERROR>onn</ERROR> tuesday were overdone and due for a reversal . 
volume was million shares , up from million on tuesday . 
they cited <ERROR>woll</ERROR> street 's recent volatility and the lack of a clear indication <ERROR>ofrer</ERROR> the market 's short-term direction <ERROR>saw</ERROR> factors <ERROR>with</ERROR> the institutional caution . 
it shed about <num> pence , however , after dealers <ERROR>siad</ERROR> <num> the market was disappointed that ford did n't <ERROR>omve</ERROR> to tender a bid for control of <ERROR>hte</ERROR> company . 
but the waiver also was seen as <ERROR>and</ERROR> signal <ERROR>thet</ERROR> ford , a major u.k. auto industry employer , was <ERROR>aball</ERROR> to <ERROR>gane</ERROR> government <ERROR>acceptence</ERROR> of its bid for control of jaguar . 
b.a.t industries , which <ERROR>his</ERROR> being pursued by sir james goldsmith 's hoylake investments , rose <num> to <num> <ERROR>in</ERROR> speculation <ERROR>tat</ERROR> hoylake <ERROR>with</ERROR> sweeten <ERROR>it</ERROR> bid , dealers said <num> . 
reed international , a u.k. publishing group , gained <num> to <num> despite reporting <ERROR>i</ERROR> % drop <ERROR>if</ERROR> interim pretax profit . 
dealers <ERROR>sald</ERROR> <num> the market agreed . 
<ERROR>drog</ERROR> companies in the key index also notched gains as market-makers searched for stock <ERROR>with</ERROR> anticipation of demand <ERROR>dew</ERROR> to <ERROR>these</ERROR> sector 's defensive qualities . 
glaxo , the u.k. 's largest pharmaceutical concern , advanced <num> to # . 
paris , brussels , <ERROR>aand</ERROR> milan <ERROR>went</ERROR> closed <ERROR>from</ERROR> a holiday . 
elsewhere , share prices closed higher in singapore , taipei and wellington , were mixed in hong kong , <ERROR>louer</ERROR> in seoul and little <ERROR>chaned</ERROR> in sydney . 
<ERROR>herd</ERROR> are price trends on <ERROR>to</ERROR> world 's major stock markets , as calculated by morgan stanley capital <ERROR>niternational</ERROR> perspective , geneva . 
the percentage change is since year-end . 
intermec corp. , offering <ERROR>or</ERROR> common shares , via goldman , sachs & co. and piper , jaffray & hopwood inc . 
midwesco filter resources inc. , initial offering of common shares , <num> to be <ERROR>offerred</ERROR> by the company , via chicago corp . 
occidental petroleum corp. , shelf <ERROR>offoring</ERROR> of $ billion <ERROR>i</ERROR> senior debt securities . 
service fracturing co. , proposed offering of million shares of common stock , via lovett mitchell webb & garrison , inc. , and blunt ellis & loewi inc . 
hold the putty ! 
pat d'amico . 
the los angeles county <ERROR>distrect</ERROR> attorney 's office filed seven felony and five misdemeanor counts charging that late <ERROR>laste</ERROR> year and early this <ERROR>yery</ERROR> the irvine , calif.-based circuit-board manufacturer illegally disposed of acid , caustic <ERROR>i</ERROR> heavy metals into the sewer system , and stored hazardous materials in leaky , unlabeled or open-top containers . 
the company said <num> local authorities held hearings on the allegations last spring and had returned the plant to <ERROR>rouint</ERROR> inspection in <ERROR>agust</ERROR> . 
arraignments are scheduled for nov. <num> . 
the sharp stock market decline in <ERROR>later</ERROR> october appears to have had <ERROR>litl</ERROR> or no <ERROR>effet</ERROR> on consumers , said fabian linden , executive director <ERROR>av</ERROR> the <ERROR>conferance</ERROR> board 's consumer <ERROR>resar</ERROR> center . 
the nonprofit , industry-supported group said <num> its <ERROR>consummer</ERROR> confidence index <ERROR>wan</ERROR> in october , barely <ERROR>change</ERROR> from a revised in september . 
it uses a base of <num> in <num> . 
an equal <ERROR>nuber</ERROR> in each <ERROR>moth</ERROR> said <ERROR>vat</ERROR> employment conditions were good . 
also , more people <ERROR>sad</ERROR> <num> conditions will worsen in the <ERROR>peroid</ERROR> . 
in october <num> , % said <num> business <ERROR>condesiner</ERROR> would improve . 
<ERROR>onlt</ERROR> % in october , compared <ERROR>wiht</ERROR> % in <ERROR>septmber</ERROR> and % in <ERROR>octber</ERROR> <num> , said <num> income would increase . 
<ERROR>unee</ERROR> continues at a relatively low <ERROR>lewel</ERROR> , providing <ERROR>an</ERROR> sense of job <ERROR>secruitey</ERROR> , and a low inflation rate has kept the purchasing power of the weekly paycheck reasonably strong . 
buying plans <ERROR>was</ERROR> mixed in october , with fewer households indicating plans <ERROR>th</ERROR> buy <ERROR>kars</ERROR> and <ERROR>mooe</ERROR> saying <num> they will <ERROR>by</ERROR> homes <ERROR>anf</ERROR> appliances in <ERROR>they</ERROR> coming six <ERROR>mouths</ERROR> . 
in <ERROR>octber</ERROR> <num> , % said <num> they would buy a car . 
in october <num> , % said <num> they would <ERROR>by</ERROR> a house . 
in october , % said <num> they will buy appliances in the coming six months , compared with % in september and % in <ERROR>octber</ERROR> <num> . 
there <ERROR>wree</ERROR> so many economic <ERROR>reoprts</ERROR> but the market did n't care about <ERROR>erorae</ERROR> of <ERROR>tham</ERROR> , said kathleen camilli , <ERROR>as</ERROR> money market economist at drexel burnham lambert inc . 
ibm , <ERROR>tu</ERROR> giant computer maker , offered $ <num> million <ERROR>av</ERROR> non-callable 30-year debentures priced <ERROR>the</ERROR> yield % , or about percentage point <ERROR>hire</ERROR> than the <ERROR>yeild</ERROR> on 30-year treasury bonds . 
in the investment-grade corporate market , it 's rare <ERROR>tandt</ERROR> you get an opportunity to buy a name that has such <ERROR>brode</ERROR> appeal and has such attractive call features , said <num> james ednie , <ERROR>ah</ERROR> drexel industrial bond trader . 
syndicate officials at lead underwriter salomon brothers inc. said <num> the debentures were snapped by up pension funds , banks , insurance companies and other institutional investors . 
whether you <ERROR>thont</ERROR> <num> <ERROR>tehe</ERROR> economy was growing weak or holding steady , yesterday 's economic indicators did n't change your <ERROR>oppinon</ERROR> , said charles lieberman , a managing director at manufacturers hanover securities corp . 
both indicators were viewed as signs that the nation 's <ERROR>industral</ERROR> sector is <ERROR>groing</ERROR> very slowly , <ERROR>is</ERROR> at <ERROR>a</ERROR> . 
in a monthly report prepared <ERROR>forr</ERROR> use at the fed 's next federal open market committee <ERROR>meetting</ERROR> on nov. , the nation 's <ERROR>centrel</ERROR> bank found that price increases have moderated and economic activity has <ERROR>groun</ERROR> at a sluggish pace in recent weeks . 
the philadelphia and cleveland districts , for example , reported declines in manufacturing activity while the boston , dallas and san francisco banks noted <ERROR>theat</ERROR> business expanded . 
a reading below <num> % indicates that the manufacturing sector <ERROR>it</ERROR> slowing while a <ERROR>reding</ERROR> above <num> % suggests that the industry <ERROR>his</ERROR> expanding . 
the employment report , <ERROR>wo</ERROR> at <ERROR>time</ERROR> has caused wide swings in bond prices , is due out tomorrow . 
the economists <ERROR>forcast</ERROR> a % rise in <ERROR>tie</ERROR> unemployment rate <ERROR>too</ERROR> % . 
in a surprise announcement , the treasury <ERROR>sind</ERROR> <num> it will reopen the outstanding benchmark 30-year bond rather than create a new one for next week 's quarterly refunding of the <ERROR>fedral</ERROR> debt . 
<ERROR>by</ERROR> rather than sell <ERROR>mew</ERROR> 30-year bonds , the treasury <ERROR>with</ERROR> issue $ <num> billion of 29year , nine-month bonds essentially <ERROR>encreing</ERROR> the size <ERROR>with</ERROR> the <ERROR>curent</ERROR> benchmark 30-year bond <ERROR>theut</ERROR> was sold at the previous refunding in <ERROR>augest</ERROR> . 
<ERROR>sane</ERROR> dealers <ERROR>sied</ERROR> <num> the treasury 's intent is to <ERROR>halp</ERROR> government bond dealers gauge investor demand for <ERROR>they</ERROR> securities , given uncertainties <ERROR>to</ERROR> when <ERROR>th</ERROR> auction will <ERROR>occure</ERROR> . 
until such action takes places , the <ERROR>treasurey</ERROR> has no <ERROR>ablity</ERROR> to issue new <ERROR>dept</ERROR> of any <ERROR>care</ERROR> . 
the benchmark 30-year bond <ERROR>of</ERROR> point , or $ for each $ face <ERROR>oment</ERROR> . 
<ERROR>tu</ERROR> latest 10-year notes were quoted at <num> to yield % compared with <num> to <ERROR>yeild</ERROR> % . 
<ERROR>corparate</ERROR> issues 
meanwhile , most investment-grade bonds ended unchanged to as much as point higher . 
moody 's <ERROR>sid</ERROR> <num> those returns <ERROR>compair</ERROR> with <ERROR>i</ERROR> % <ERROR>totle</ERROR> return for longer-term treasury notes and bonds . 
<ERROR>fon</ERROR> the year to date , moody 's said <num> total returns were topped by the % of longer-term treasury issues , closely followed by <num> % for investment-grade bonds . 
<ERROR>evening</ERROR> the % return from the risk-free three-month treasury bill has <ERROR>easely</ERROR> outdistanced the % return from junk bonds , wrote moody 's economist john lonski <ERROR>im</ERROR> yesterday 's market report . 
moody 's said <num> <ERROR>tu</ERROR> average net asset value of <num> junk-bond <ERROR>muchial</ERROR> funds fell by % in october . 
mortgage securities ended slightly <ERROR>hier</ERROR> but trailed gains in the <ERROR>treasurey</ERROR> market . 
the ginnie mae <num> % securities were yielding % <ERROR>ro</ERROR> a 12-year average life . 
municipal issues 
a $ <num> million issue <ERROR>ov</ERROR> health facility revenue bonds from the california health <ERROR>faclisisy</ERROR> financing authority was temporarily withdrawn after being tentatively priced <ERROR>bery</ERROR> a first boston corp. group . 
the issue could be relaunched , possibly <ERROR>im</ERROR> a restructured form , as early as next <ERROR>wek</ERROR> , according <ERROR>of</ERROR> the lead underwriter . 
the santa ana bonds were tentatively priced <ERROR>tow</ERROR> yield <ERROR>torme</ERROR> % in <num> to % in 
they were tentatively priced to yield from % in <num> to % <ERROR>is</ERROR> 
west german dealers said <num> there <ERROR>wos</ERROR> little <ERROR>interested</ERROR> in treasury bonds ahead of thursday 's new government <ERROR>bound</ERROR> issue . 
it is <ERROR>generaly</ERROR> expected to be <ERROR>tehe</ERROR> usual 10-year , four billion mark issue . 
elsewhere : 
in britain , the benchmark <num> % bond <ERROR>dew</ERROR> fell to <num> <ERROR>of</ERROR> yield % . 
standard & poor 's corp. lowered to double-c from triple-c the rating <ERROR>in</ERROR> about $ <num> <ERROR>millon</ERROR> of debt . 
travelers corp. 's third-quarter net income <ERROR>roes</ERROR> <num> % , even though claims stemming from <ERROR>huricane</ERROR> hugo reduced results $ <num> million . 
but revenue declined to $ <num> billion from $ billion . 
the insurer 's earnings from commercial property\/casualty lines fell <num> % in the latest quarter , while it lost $ million in its <ERROR>personel</ERROR> property\/casualty business , compared with earnings <ERROR>ove</ERROR> $ million a year ago . 
<ERROR>if</ERROR> the first <ERROR>nin</ERROR> months , net was $ <num> <ERROR>millon</ERROR> , compared <ERROR>the</ERROR> a <ERROR>lose</ERROR> of $ <num> million in the <num> period . 
the british department of trade and <ERROR>indeery</ERROR> ordered an investigation of the competitive impact of michelin tyre plc 's planned acquisition <ERROR>ov</ERROR> national tyre service ltd . 
btr plc , a u.k. <ERROR>industral</ERROR> conglomerate , said in june <num> <ERROR>hit</ERROR> had sold its national tyre <ERROR>survice</ERROR> business to michelin investment ltd. , <ERROR>the</ERROR> u.k. unit <ERROR>on</ERROR> the tire maker , for # <num> <ERROR>millon</ERROR> -lrb- $ million -rrb- . 
michelin officials could n't immediately comment <ERROR>an</ERROR> the referral , but they noted <num> the purchase from btr has already been concluded . 
rep. john dingell , an important sponsor of <ERROR>presedent</ERROR> bush 's clean-air bill , plans to unveil a surprise proposal <ERROR>vat</ERROR> would break with the <ERROR>wite</ERROR> house on a centerpiece issue : acid rain . 
the administration 's plan <ERROR>cood</ERROR> cost utilities , mainly those that <ERROR>yous</ERROR> coal , up <ERROR>two</ERROR> $ <num> billion a year . 
as chairman of the house energy and <ERROR>comerce</ERROR> committee , mr. dingell has <ERROR>allmost</ERROR> single-handed <ERROR>controll</ERROR> over clean-air legislation . 
mr. bush 's legislative <ERROR>pakage</ERROR> promises to cut emissions <ERROR>biy</ERROR> <num> million tons basically in half <ERROR>buy</ERROR> the year <num> . 
<ERROR>but</ERROR> proposal <ERROR>hat</ERROR> been hailed by environmentalists but despised by utilities because they feared <num> it would <ERROR>limet</ERROR> their growth . 
in addition , it is believed to offer a cost-sharing mechanism that would help subsidize <ERROR>these</ERROR> clean-up costs for the dirtiest coal-fired utilities <ERROR>it</ERROR> the country , sparing their customers <ERROR>form</ERROR> exorbitant jumps in their <ERROR>elektric</ERROR> bills . 
mr. dingell 's staff was expected <ERROR>ro</ERROR> present its acid-rain alternative to other <ERROR>commity</ERROR> members , apparently in <ERROR>and</ERROR> attempt to appease midwestern lawmakers from high-polluting states <ERROR>hwo</ERROR> insist <ERROR>ons</ERROR> cost-sharing . 
while the new proposal <ERROR>maiht</ERROR> appeal to the dirtiest utilities , it might <ERROR>non</ERROR> win the support of utilities , <ERROR>memey</ERROR> in the west , <ERROR>vat</ERROR> already have added expensive cleanup equipment or burn cleaner-burning fuels . 
american city business journals inc. said <num> its president , michael k. russell , will resign rather than relocate to new headquarters <ERROR>is</ERROR> charlotte , n.c . 
earlier this year shaw publishing inc. , charlotte , acquired <num> % of american city and has <ERROR>am</ERROR> agreement <ERROR>the</ERROR> acquire a further <num> % from e.w. scripps co. next <ERROR>yery</ERROR> . 
<ERROR>are</ERROR> nickname for measures <num> to stop <ERROR>thw</ERROR> market from plunging too far too fast . 
on the <ERROR>bog</ERROR> board , a side <ERROR>care</ERROR> is put into effect when <ERROR>tie</ERROR> s&p futures rise or <ERROR>fol</ERROR> <num> points . 
on <ERROR>tehe</ERROR> chicago mercantile exchange , s&p <num> futures are not <ERROR>alowed</ERROR> to fall further than <num> points <ERROR>fome</ERROR> the <ERROR>previos</ERROR> day 's close for half an hour . 
also , the reforms <ERROR>alow</ERROR> the big board to halt trading for one hour if the dow jones industrial <ERROR>avarage</ERROR> falls <num> points , <ERROR>than</ERROR> for two more hours <ERROR>it</ERROR> the dow slides an additional <num> points on the same day . 
a faster version , the superdot , was launched <ERROR>im</ERROR> <num> . 
futures contracts obligations to buy -lrb- for those who have purchased a contract -rrb- or deliver -lrb- <ERROR>foir</ERROR> those <ERROR>wow</ERROR> sold one -rrb- a quantity of <ERROR>these</ERROR> underlying commodity or <ERROR>finanshel</ERROR> instrument at the agreed-upon <ERROR>prise</ERROR> by <ERROR>as</ERROR> certain date . 
indexing many investors , mainly institutions , follow an investment strategy of buying <ERROR>i</ERROR> holding <ERROR>an</ERROR> mix of stocks <num> <ERROR>th</ERROR> match the <ERROR>performence</ERROR> of a broad stock-market barometer such as <ERROR>these</ERROR> s&p <num> . 
program trading a wide range of computer-assisted portfolio trading strategies involving the simultaneous purchase or sale of <num> or <ERROR>mooe</ERROR> stocks . 
the newest breed , also called rocket scientists because <ERROR>op</ERROR> their backgrounds in physics and mathematics , devise <ERROR>i</ERROR> complex hedging and trading strategies that are popularly known as program trading . 
traders profit <ERROR>biy</ERROR> trying to capture fleeting price discrepancies between stocks and the index futures or options . 
stock-index futures contracts to buy or <ERROR>selle</ERROR> the cash value of a stock index by a <ERROR>curtain</ERROR> date . 
the most common program-trading vehicles <ERROR>run</ERROR> futures contracts on standard & <ERROR>por</ERROR> 's 500-stock index -lrb- traded on <ERROR>thee</ERROR> chicago mercantile <ERROR>excange</ERROR> -rrb- ; the major market index , <ERROR>an</ERROR> 20-stock index that mimics the dow jones industrial <ERROR>avarage</ERROR> -lrb- traded on the chicago board <ERROR>ovoe</ERROR> trade -rrb- ; and <ERROR>thw</ERROR> s&p <num> options -lrb- traded on <ERROR>my</ERROR> chicago board options exchange , and based on <num> stocks selected from the s&p <num> -rrb- . 
for stock indexes , <ERROR>these</ERROR> underlying investment may be <ERROR>are</ERROR> stock-index futures contract or the cash value of a stock index . 
uptick an <ERROR>expresion</ERROR> signifying <ERROR>to</ERROR> a transaction <ERROR>i</ERROR> a listed security <ERROR>occured</ERROR> at a higher <ERROR>prise</ERROR> than <ERROR>an</ERROR> previous transaction in <ERROR>haen</ERROR> security . 
although takeover experts said <num> they doubted <num> mr. steinberg will make a bid <ERROR>buy</ERROR> himself , <ERROR>that</ERROR> application by his reliance <ERROR>groupe</ERROR> holdings inc. could signal his interest <ERROR>it</ERROR> helping revive <ERROR>are</ERROR> failed labor-management bid . 
but <ERROR>so</ERROR> investors have <ERROR>usedf</ERROR> such filings <ERROR>ro</ERROR> boost the value of <ERROR>these</ERROR> stock holdings , which without buying more stock they <ERROR>than</ERROR> sold . 
maybe <ERROR>the</ERROR> just wants <ERROR>two</ERROR> make <ERROR>somethink</ERROR> happen , said one takeover expert . 
mr. steinberg , <ERROR>her</ERROR> suggested <num> , could replace british airways plc , which <ERROR>hase</ERROR> withdrawn from <ERROR>thi</ERROR> buy-out group . 
reliance acquired a <num> % ual stake early this year at an average cost <ERROR>afoh</ERROR> $ <num> a share , and reduced its stake <ERROR>of</ERROR> % after ual accepted the bid at prices higher than $ <num> a share . 
but the <ERROR>exsact</ERROR> amount of reliance 's current holding has n't been formally disclosed . 
speculation about coniston has caused the stock <ERROR>two</ERROR> rebound from a low <ERROR>for</ERROR> $ <num> . 
in composite new york stock <ERROR>excange</ERROR> trading , the shares <ERROR>closd</ERROR> at $ <num> , up $ . 
reliance confirmed the filing but would n't <ERROR>elaberate</ERROR> . 
mr. steinberg is <ERROR>thorught</ERROR> to be on <ERROR>freindly</ERROR> terms with ual 's mr. wolf . 
mr. wolf 's success in <ERROR>and</ERROR> job helped him land the top job with ual in <ERROR>desember</ERROR> <num> . 
a.l. williams corp. was merged into primerica corp. , new york , after a special <ERROR>meating</ERROR> of williams shareholders <ERROR>clered</ERROR> the transaction , the companies said <num> . 
the financial-services company will <ERROR>pae</ERROR> share for each williams share . 
primerica <ERROR>closd</ERROR> at $ , <ERROR>wen</ERROR> <num> cents . 
its subsidiaries ' services <ERROR>ar</ERROR> marketed by closely <ERROR>hald</ERROR> a.l. williams & associates . 
terms were n't disclosed . 
the move boosts intelogic <ERROR>chairmen</ERROR> asher edelman 's stake <ERROR>tow</ERROR> <num> % from % <ERROR>are</ERROR> may help <ERROR>pervent</ERROR> martin ackerman <ERROR>fom</ERROR> making <ERROR>and</ERROR> run at the computer-services concern . 
the action followed by one day an intelogic announcement <ERROR>hart</ERROR> it will retain an investment banker to explore alternatives <num> to maximize shareholder value , including the possible <ERROR>sail</ERROR> of the <ERROR>compeny</ERROR> . 
mr. edelman declined <ERROR>ro</ERROR> specify what prompted the <ERROR>resent</ERROR> moves , saying <num> they are meant <ERROR>oly</ERROR> to benefit shareholders when the <ERROR>compy</ERROR> is on a roll . 
but mr. ackerman said <num> the buy-back , and the above-market price paid , prove <ERROR>dat</ERROR> mr. edelman is <ERROR>run</ERROR> scared . 
the <ERROR>ofer</ERROR> , valued at about $ <num> million for <ERROR>tu</ERROR> <num> % of telerate that dow jones does n't already own , had <ERROR>being</ERROR> set <ERROR>th</ERROR> expire nov. <num> . 
telerate 's two independent directors have rejected the offer <ERROR>asw</ERROR> inadequate . 
telerate provides an electronic financial <ERROR>imformation</ERROR> network . 
rockwell international corp. reported flat operating earnings for the fourth quarter ended sept. <num> . 
in <ERROR>on</ERROR> interview , donald beall , chairman , said <num> first-half profit certainly <ERROR>whode</ERROR> trail <ERROR>thi</ERROR> past year 's , primarily because <ERROR>onet</ERROR> weakness in the heavy-truck and passenger-car markets . 
for fiscal <num> 's fourth quarter , rockwell 's net income totaled $ million , or <num> cents a <ERROR>shear</ERROR> . 
<ERROR>th</ERROR> prior-year period includes a one-time favorable tax adjustment on the b-1b bomber program and another gain <ERROR>fou</ERROR> sale <ERROR>ofr</ERROR> the industrial sewing-machine business , which made net $ million , or <num> <ERROR>cens</ERROR> a share . 
mr. beall <ERROR>sede</ERROR> that <ERROR>hey</ERROR> was generally pleased with the latest numbers <ERROR>than</ERROR> cited a <ERROR>particulary</ERROR> strong <ERROR>shoing</ERROR> by the <ERROR>compeny</ERROR> 's electronics segment . 
all four areas had <ERROR>hire</ERROR> revenue for the three months ended sept. <num> . 
<ERROR>i</ERROR> graphics <ERROR>buisness</ERROR> , which also <ERROR>his</ERROR> singled out by the chairman as a positive , saw its operating earnings for the quarter <ERROR>junp</ERROR> <num> % to $ <ERROR>millon</ERROR> from $ <ERROR>millon</ERROR> . 
aerospace earnings sagged <num> % <ERROR>foow</ERROR> the quarter and <num> % for <ERROR>tu</ERROR> year , largely <ERROR>dew</ERROR> to lower b-1b program profit ; the last of the bombers rolled <ERROR>ot</ERROR> in april <num> . 
the <ERROR>compeny</ERROR> also took hits in <ERROR>they</ERROR> fourth quarters of <num> and <num> on <ERROR>and</ERROR> fixed-price weapons-modernization development program probably the c-130 gunship , according to analysts . 
excluding one-time additions to profit in each <ERROR>yeare</ERROR> , earnings per share were $ , up % from $ in fiscal <num> . 
dell computer corp. said <num> it cut prices <ERROR>of</ERROR> several of its personal computer lines <ERROR>bery</ERROR> <num> % to <num> % . 
<ERROR>vat</ERROR> package now sells for about $ . 
personal computer prices for models using the intel <num> and <num> microprocessors , <ERROR>wo</ERROR> the dell models use , generally <ERROR>naf</ERROR> been <ERROR>comeing</ERROR> down as chip prices have fallen . 
prices also <ERROR>whir</ERROR> boosted by another rumor that mexico , <ERROR>usal</ERROR> a large producer and exporter , might have to buy a large quantity <ERROR>cift</ERROR> sugar . 
the <ERROR>mach</ERROR> and <ERROR>nay</ERROR> contracts rose to fresh life-of-contract highs of cents <ERROR>ane</ERROR> cents at their best levels of the <ERROR>bay</ERROR> . 
<ERROR>th</ERROR> may contract , which <ERROR>allso</ERROR> is without restraints , ended with <ERROR>ah</ERROR> gain of cent to cents . 
<ERROR>acording</ERROR> to reports carried <ERROR>be</ERROR> various news services , <ERROR>my</ERROR> brazilian government <ERROR>to</ERROR> its sugar producers that they wo n't be allowed <ERROR>ro</ERROR> export sugar during the current <ERROR>seson</ERROR> , <ERROR>witch</ERROR> began may <num> , <ERROR>an</ERROR> the season so that it <ERROR>came</ERROR> be <ERROR>yous</ERROR> to <ERROR>produse</ERROR> alcohol for automobile <ERROR>fl</ERROR> . 
this is a demand <ERROR>theat</ERROR> must be <ERROR>mat</ERROR> , regardless of the <ERROR>prise</ERROR> of oil , said mr. stevenson . 
a shift to producing more alcohol and less sugar had been expected , but the <ERROR>lateist</ERROR> news , if true , indicates <ERROR>an</ERROR> more drastic shift <num> <ERROR>then</ERROR> had been anticipated . 
its exports were expected to total tons in contrast to shipments of million tons in 
producers <ERROR>waer</ERROR> granted the right <ERROR>erlyer</ERROR> this year <ERROR>of</ERROR> ship sugar and the export licenses were expected <ERROR>ro</ERROR> have begun to be issued yesterday . 
<ERROR>mooe</ERROR> than a half of all sugar produced in brazil goes <ERROR>foir</ERROR> alcohol production , according to ms. ganes . 
most important , ms. ganes noted <num> , brazilian officials said that no decision has as yet been made on the suspension of exports . 
above all , mr. oxnard <ERROR>notted</ERROR> <num> , the <ERROR>sitt</ERROR> is extremely confused . 
it 's the <ERROR>traep</ERROR> of nervous atmosphere <ERROR>if</ERROR> which a report can be <ERROR>but</ERROR> out , such <ERROR>aas</ERROR> the one saying <num> exports will <ERROR>pe</ERROR> suspended , and no one can confirm it . 
on <ERROR>thw</ERROR> one <ERROR>hande</ERROR> , brazil started an ethanol program <ERROR>abont</ERROR> <num> years ago <ERROR>two</ERROR> fuel a huge portion of its national fleet of <ERROR>cors</ERROR> and is <ERROR>know</ERROR> committed to this program . 
mexico , which is <ERROR>normaly</ERROR> a sugar exporter , has <ERROR>haed</ERROR> production <ERROR>problem</ERROR> in the past two years , analysts said <num> . 
this year it is expected to be a net importer and is said to be seeking to <ERROR>by</ERROR> about tons of <ERROR>suger</ERROR> to <ERROR>mete</ERROR> internal needs , analysts said <num> . 
energy : 
<ERROR>and</ERROR> the <ERROR>mew</ERROR> york mercantile exchange , heating oil for december delivery increased cents to <ERROR>settel</ERROR> at cents <ERROR>are</ERROR> gallon . 
but the strength in heating <ERROR>oill</ERROR> helped push up crude <ERROR>oill</ERROR> . 
the firmness <ERROR>if</ERROR> heating <ERROR>oll</ERROR> was attributed to colder weather in parts of <ERROR>tehe</ERROR> u.s. and <ERROR>th</ERROR> the latest <ERROR>weakly</ERROR> report by <ERROR>my</ERROR> american petroleum institute , which <ERROR>showd</ERROR> a decline in inventories of the fuel . 
prices closed <ERROR>mostley</ERROR> higher in relatively light trading as farmers continued to withhold their crops from the marketplace in the hope of <ERROR>hire</ERROR> prices <num> to come . 
continued <ERROR>exsport</ERROR> demand also supported prices . 
traders said <num> prices also were <ERROR>suppore</ERROR> by widespread rumors that the soviet union is on <ERROR>th</ERROR> verge of receiving <ERROR>mast</ERROR> favored nation status from <ERROR>thw</ERROR> u.s. . 
<ERROR>t</ERROR> soviets are widely believed <ERROR>ro</ERROR> need <ERROR>additonal</ERROR> supplies , despite running up record one-month purchases of <num> million bushels of corn <ERROR>im</ERROR> october . 
futures prices rose , extending <ERROR>tusday</ERROR> 's gains . 
buying for <ERROR>my</ERROR> most part carried <ERROR>ofrer</ERROR> from the <ERROR>preveous</ERROR> session , <ERROR>are</ERROR> traders apparently <ERROR>egnorred</ERROR> reports <ERROR>theut</ERROR> a chilean mine <ERROR>stricke</ERROR> may <ERROR>hove</ERROR> ended almost before it began , an analyst <ERROR>seiad</ERROR> <num> . 
however , some workers have n't <ERROR>yat</ERROR> accepted the new <ERROR>contrack</ERROR> and are continuing negotiations , <ERROR>an</ERROR> analyst said <num> . 
the bougainville <ERROR>coper</ERROR> mine has been inoperative since may <num> because <ERROR>for</ERROR> attacks by native landowners who want bougainville to secede from papua-new guinea . 
equitable of iowa cos. , des moines , had been seeking a buyer for the 36-store younkers chain <ERROR>scince</ERROR> june , when <ERROR>il</ERROR> announced <ERROR>it</ERROR> intention to free up capital to expand <ERROR>is</ERROR> insurance business . 
younkers rang up sales in <num> of $ <num> million . 
younkers management <ERROR>in</ERROR> likely to <ERROR>bye</ERROR> a <num> % to <num> % interest in <ERROR>tie</ERROR> chain in january , <ERROR>seid</ERROR> <num> fred s. hubbell , equitable 's president and chief executive officer . 
tony lama co. said that equus investment ii limited partnership has proposed changing <ERROR>a</ERROR> offer for the <ERROR>compeny</ERROR> to $ <ERROR>it</ERROR> cash and <ERROR>stark</ERROR> from <ERROR>am</ERROR> all-cash transaction . 
previously , it offered $ <ERROR>the</ERROR> share in cash , or $ <num> million . 
the stock would be redeemed <ERROR>is</ERROR> five <ERROR>yars</ERROR> , subject to terms of the surviving company 's debt . 
however , tony lama said <num> <ERROR>hit</ERROR> would promptly submit the <ERROR>ofer</ERROR> to a special committee of the company 's board . 
mr. reupke , <num> years old <ERROR>an</ERROR> a 27-year reuters veteran , had been <ERROR>thee</ERROR> information-services company 's general <ERROR>maneger</ERROR> for only six months . 
no successor <ERROR>we</ERROR> named , and mr. reupke 's duties will be split among three other senior reuters executives , the company said <num> . 
there is no business reason for my departure , <ERROR>nore</ERROR> any disagreement over policy , <ERROR>had</ERROR> added <num> . 
mr. reupke <ERROR>wase</ERROR> one of three executives on reuters 's eight-person executive committee who did n't also serve on the company 's board <ERROR>ofr</ERROR> directors . 
a reuters spokesman said <num> the departure reflects <ERROR>know</ERROR> change in strategy or profits . 
i would be <ERROR>ver</ERROR> surprised <ERROR>it</ERROR> his departure signals any change in <ERROR>stratagy</ERROR> or change in profit expectations . 
in the u.s. over-the-counter market , american depositary shares for reuters , each representing three shares in the london market , closed unchanged at $ . 
peter holland , <num> , deputy general <ERROR>manger</ERROR> , becomes <ERROR>directer</ERROR> of <ERROR>corparate</ERROR> affairs . 
dd acquisition corp. , a partnership of unicorp canada corp. 's kingsbridge capital group and cara operations ltd. , extended <ERROR>two</ERROR> nov. <num> its $ 45-a-share offer for all dunkin' donuts inc. shares outstanding . 
dd acquisition has launched a suit in a delaware <ERROR>cort</ERROR> seeking <ERROR>my</ERROR> withdrawal of dunkin 's poison pill rights and employee stock ownership plans , <ERROR>wick</ERROR> it claims <num> were put in place <ERROR>the</ERROR> deter bidders . 
<ERROR>that</ERROR> partners said <num> they already hold <num> % of all shares outstanding . 
dd <ERROR>aquisistion</ERROR> said <num> <ERROR>an</ERROR> extension is to allow this <ERROR>proccess</ERROR> to be completed . 
cara , <ERROR>the</ERROR> food services chain operator and unicorp , a <ERROR>holing</ERROR> company , are based <ERROR>is</ERROR> toronto . 
<ERROR>and</ERROR> spokesman for the stamford , conn.based company said <num> operations <ERROR>aud</ERROR> a loss of $ million <ERROR>fon</ERROR> the quarter ; in addition , the <ERROR>lose</ERROR> was magnified by nonrecurring charges totaling $ million <ERROR>ane</ERROR> $ million in asset-valuation adjustments that <ERROR>her</ERROR> described as <ERROR>unusal</ERROR> . 
<ERROR>revenu</ERROR> declined <num> % <ERROR>th</ERROR> $ million , from $ million a year earlier . 
hadson corp. said <num> it expects to report a third-quarter net loss of $ <num> million <ERROR>tow</ERROR> $ <num> million <ERROR>becaise</ERROR> of special reserves and continued low natural-gas prices . 
in addition , hadson said <num> <ERROR>il</ERROR> will write off about $ <ERROR>millon</ERROR> in costs related <ERROR>th</ERROR> international exploration leases <ERROR>wear</ERROR> exploration efforts have been unsuccessful . 
a year <ERROR>erlyer</ERROR> , net income <ERROR>his</ERROR> $ million , or six <ERROR>cens</ERROR> a share , <ERROR>ons</ERROR> revenue of $ million . 
while renewed optimism about <ERROR>these</ERROR> outlook for takeover activity boosted <ERROR>severeal</ERROR> so-called deal stocks , traders said <num> profit-taking weighed on the market , with blue-chips bearing <ERROR>tie</ERROR> brunt of <ERROR>they</ERROR> selling . 
standard & poor 's 500-stock index added to ; the rise was equivalent to a gain of about six points <ERROR>is</ERROR> the <ERROR>industral</ERROR> average . 
advancing stocks <ERROR>let</ERROR> decliners on <ERROR>hte</ERROR> new york stock exchange by <num> <ERROR>of</ERROR> <num> . 
the october survey of corporate purchasing managers , as expected , <ERROR>provied</ERROR> evidence that economic growth remains subdued . 
but with the index proving somewhat better than expected and <ERROR>hte</ERROR> widely anticipated report on october employment scheduled <ERROR>ro</ERROR> arrive tomorrow , stock prices firmed only modestly in response to the report <ERROR>than</ERROR> then faltered . 
the <ERROR>cycollogy</ERROR> is still : ` we want -lrb- stocks -rrb- up , but if they do n't carry we 're going <ERROR>of</ERROR> sell <ERROR>tham</ERROR> . ' 
arbitrage-related trading during <ERROR>an</ERROR> session was confined largely to a round of <ERROR>by</ERROR> programs near <ERROR>thee</ERROR> close , <ERROR>whch</ERROR> helped offset the impact of profit-taking among <ERROR>blew</ERROR> chips . 
<ERROR>and</ERROR> sense <ERROR>at</ERROR> some people are reluctant to stick their necks out <ERROR>it</ERROR> any aggressive way until after the <ERROR>figurs</ERROR> come <ERROR>aut</ERROR> , said richard eakle , <ERROR>presedent</ERROR> of eakle associates , <ERROR>fare</ERROR> haven , 
prudential-bache securities boosted the stock 's short-term investment <ERROR>reigning</ERROR> in <ERROR>responce</ERROR> to <ERROR>tehe</ERROR> departure ; analyst john mcmillin said <num> he believes <num> the company will turn <ERROR>ro</ERROR> new management that 's more financially oriented . 
upjohn , a rumored target within <ERROR>t</ERROR> drug industry , advanced to <num> . 
amr climbed <num> <ERROR>tow</ERROR> <num> amid rumors that new york developer donald trump was seeking financing <num> <ERROR>of</ERROR> mount a new , lower <ERROR>ofer</ERROR> for the parent company <ERROR>af</ERROR> american airlines . 
ual rose <num> to <num> . 
georgia gulf added <num> to <num> after nl industries , controlled by dallas investor harold simmons , offered to acquire the <ERROR>stark</ERROR> <num> it does n't already <ERROR>oan</ERROR> for $ <num> a share . 
<ERROR>and</ERROR> northern nekoosa , which surged <num> tuesday after georgia-pacific launched a $ billion offer for <ERROR>th</ERROR> company , dropped <num> to <num> in <ERROR>bog</ERROR> board composite trading of million shares . 
other <ERROR>papr</ERROR> and forest-products stocks closed mixed . 
texaco rose to <num> as million shares changed hands . 
santa fe pacific dropped <num> to <num> . 
gencorp tumbled <num> to <num> . 
allergan <ERROR>wot</ERROR> up to <num> . 
<ERROR>an</ERROR> american stock exchange market value index gained <ERROR>two</ERROR> . 
old spaghetti warehouse rose <num> to <num> . 
freeport-mcmoran inc. said <num> it <ERROR>with</ERROR> convert <ERROR>it</ERROR> freeport-mcmoran energy partners ltd. partnership into a publicly traded company <ERROR>throw</ERROR> the exchange <ERROR>af</ERROR> units of the partnership <ERROR>fror</ERROR> common shares . 
freeport-mcmoran , a new orleans-based diversified <ERROR>enrergy</ERROR> conglomerate , said <num> the partnership <ERROR>with</ERROR> exchange its assets for common shares of a yet-to-be-formed entity . 
unitholders will receive two additional <num> cents-a-unit distribution payments <ERROR>pefore</ERROR> the trust is liquidated in early <num> , the <ERROR>compy</ERROR> said <num> . 
freeport-mcmoran , the <ERROR>pearent</ERROR> company , holds roughly <num> % of the units outstanding . 
nissan cited strong domestic sales <ERROR>againter</ERROR> the backdrop of continuous economic expansion . 
sales totaled trillion yen , climbing <num> % <ERROR>forme</ERROR> trillion yen in <ERROR>thw</ERROR> year-earlier period . 
atsushi muramatsu , <ERROR>exectutive</ERROR> vice <ERROR>presedent</ERROR> and chief <ERROR>finashal</ERROR> officer of nissan , said , the company has experienced <ERROR>as</ERROR> remarkable turnaround in terms of profitability since the fiscal year ending march <num> , when the sharp <ERROR>anf</ERROR> rapid appreciation of the yen caused <ERROR>manny</ERROR> difficulties . 
heritage media corp. , <ERROR>now</ERROR> york , said <num> <ERROR>et</ERROR> offered to buy the shares of pop radio corp. <num> it <ERROR>dose</ERROR> n't already own in a stock <ERROR>swop</ERROR> . 
depending upon how many warrants and options are exercised prior to completion <ERROR>ovoe</ERROR> the transaction , heritage would issue between <ERROR>millon</ERROR> and million preferred shares , a heritage spokesman estimated <num> . 
<ERROR>my</ERROR> preferred stock , which would <ERROR>had</ERROR> a <ERROR>divident</ERROR> rate of $ a year , would <ERROR>d</ERROR> convertible into heritage common <ERROR>a</ERROR> a rate of <ERROR>for</ERROR> common shares for <ERROR>eash</ERROR> preferred . 
heritage <ERROR>ownes</ERROR> and operates television <ERROR>than</ERROR> radio stations and in-store advertising and promotion programs . 
<ERROR>a</ERROR> fairlawn , ohio-based company also <ERROR>seiad</ERROR> that full-year profit <ERROR>torme</ERROR> continuing operations will be far below <ERROR>lust</ERROR> year 's $ <num> million . 
but <ERROR>that</ERROR> automotive parts <ERROR>than</ERROR> aerospace concern expects that net for the year ending nov. <num> <ERROR>wiil</ERROR> exceed last fiscal <ERROR>yeare</ERROR> 's net of $ <num> million , or $ a <ERROR>shair</ERROR> , <ERROR>pimarily</ERROR> because <ERROR>oaf</ERROR> $ <num> million in gains from sales of discontinued operations . 
transamerica corp. , san francisco , said <num> third-quarter profit <ERROR>wus</ERROR> essentially flat despite <ERROR>ah</ERROR> large one-time gain a year earlier . 
the results reflected a <num> % gain <ERROR>im</ERROR> income <ERROR>ofomt</ERROR> its finance businesses , <ERROR>anf</ERROR> a <num> % slide in income from insurance operations . 
it <ERROR>z</ERROR> <num> insurance profit reflected a $ <num> million loss from hurricane hugo . 
rms <ERROR>niternational</ERROR> inc. , hasbrouk heights , n.j. , facing a cash-flow squeeze , <ERROR>seid</ERROR> <num> it is seeking other financing <ERROR>souces</ERROR> and waivers from debenture holders . 
rms distributes electronic devices and produces power supplies and plastic literature displays . 
sales rose to $ <num> <ERROR>millon</ERROR> from $ million . 
sales rose to $ million from $ million . 
the sale represents % of meridian 's shares outstanding . 
that amount is convertible into shares <ERROR>from</ERROR> meridian common stock <ERROR>att</ERROR> $ <num> a share <ERROR>durin</ERROR> its one-year term . 
the sale of shares to the mcalpine family along with the recent sale of shares of meridian stock <ERROR>tow</ERROR> haden maclellan <ERROR>holing</ERROR> plc of surrey , england and a recent public offering have <ERROR>increases</ERROR> meridian 's net worth to $ million , said <num> william feniger , <ERROR>cheif</ERROR> executive <ERROR>oficer</ERROR> of toledo , ohio-based meridian . 
<ERROR>thw</ERROR> other concern was n't identified . 
in london at mid-afternoon yesterday , ratners 's shares were up <num> pence -lrb- cents -rrb- , at <num> pence -lrb- $ -rrb- . 
the <ERROR>aquisistion</ERROR> of 87-store weisfield 's raises ratners 's u.s. presence to <num> stores . 
carnival cruise lines inc. said <num> potential problems with <ERROR>my</ERROR> construction of two big <ERROR>cruse</ERROR> ships <ERROR>form</ERROR> finland have been averted . 
yesterday , carnival said <num> <ERROR>are</ERROR> new company has been formed <ERROR>i</ERROR> finland <ERROR>vat</ERROR> will <ERROR>cary</ERROR> on waertsilae 's shipbuilding <ERROR>operatins</ERROR> . 
carnival said <num> the <ERROR>fantast</ERROR> , a 2,050-passenger ship that was slated <ERROR>ro</ERROR> be delivered this month , will be delivered in january . 
carnival had expected that ship to be delivered <ERROR>nexst</ERROR> fall . 
valley <ERROR>fedral</ERROR> savings & loan association <ERROR>toke</ERROR> an $ million charge as it reported a third-quarter loss of $ million , or $ a share . 
the bulk <ERROR>ove</ERROR> the pretax charge is a $ <num> million write-off of capitalized servicing at <ERROR>that</ERROR> mobile <ERROR>hone</ERROR> financing subsidiary , which the company said <num> had <ERROR>bean</ERROR> a big drain on earnings . 
valley federal also added $ <num> <ERROR>millon</ERROR> to realestate loan reserves <ERROR>i</ERROR> eliminated $ <ERROR>millon</ERROR> of <ERROR>go</ERROR> will . 
valley federal <ERROR>it</ERROR> currently <ERROR>bieng</ERROR> examined by regulators . 
<ERROR>thw</ERROR> thrift has assets of $ billion . 
first of <ERROR>amercia</ERROR> , <ERROR>whch</ERROR> now has <num> banks and $ billion in assets , announced an <ERROR>aggreement</ERROR> to acquire the peoria , ill. , bank <ERROR>holing</ERROR> company <ERROR>im</ERROR> january . 
the midwest financial subsidiary banks will continue to <ERROR>opperate</ERROR> under their current names until early <num> , when each <ERROR>with</ERROR> adopt the first of america <ERROR>named</ERROR> . 
first of <ERROR>ameraca</ERROR> said <num> <ERROR>so</ERROR> of the managers will <ERROR>tacke</ERROR> other jobs with first <ERROR>ofr</ERROR> america . 
coleco industries inc. , a once high-flying toy maker <ERROR>hows</ERROR> stock peaked at $ <num> a share in the early 1980s , filed <ERROR>as</ERROR> chapter <num> reorganization plan <ERROR>at</ERROR> provides just cents a share for <ERROR>commem</ERROR> stockholders . 
in addition , they will receive <ERROR>stark</ERROR> in <ERROR>th</ERROR> reorganized company , which will be <ERROR>name</ERROR> ranger industries inc . 
<ERROR>a</ERROR> avon , conn. , company 's stock hit <ERROR>are</ERROR> high in <num> after it unveiled its adam home computer , but the product was plagued with glitches and the company 's fortunes plunged . 
but as the craze died , coleco failed to come up with another winner and <ERROR>fild</ERROR> for bankruptcy-law protection in july <num> . 
ortega ended a truce with the contras and said <num> elections were threatened . 
while he reaffirmed support for <ERROR>th</ERROR> country 's feb. <num> elections , ortega indicated that renewed u.s. military aid to the contras could thwart the balloting . 
a white house spokesman condemned the truce suspension as deplorable <ERROR>bat</ERROR> brushed <ERROR>on</ERROR> talk of renewing military funding for the insurgents . 
east german leader krenz <ERROR>calld</ERROR> the protests in <ERROR>he</ERROR> country a <ERROR>goad</ERROR> sign , saying that <ERROR>may</ERROR> of those marching for democratic freedoms were <ERROR>sowing</ERROR> support <ERROR>or</ERROR> the renovation for socialism . 
thousands <ERROR>ov</ERROR> east germans fled to czechoslovakia after the <ERROR>est</ERROR> berlin government lifted travel restrictions . 
also , a communist official for the first time said <num> the future <ERROR>afoh</ERROR> the berlin <ERROR>woll</ERROR> could be open to discussion . 
the assistant hhs secretary said <num> the ban should <ERROR>linge</ERROR> continued indefinitely . 
rep. dingell of michigan plans to unveil today a proposal that would break with <ERROR>buch</ERROR> 's clean-air bill on the <ERROR>isue</ERROR> of emissions that <ERROR>led</ERROR> to acid <ERROR>ran</ERROR> . 
house-senate conferees approved major portions of a <ERROR>packege</ERROR> for more than $ <num> million <ERROR>if</ERROR> economic <ERROR>ade</ERROR> for poland . 
south africa accused armed namibian nationalist guerrillas of crossing from bases in neighboring angola , violating u.n.-supervised peace plans for <ERROR>that</ERROR> territory 's independence from pretoria . 
guerrilla leaders <ERROR>seid</ERROR> <num> pretoria was attempting <ERROR>tow</ERROR> sabotage <ERROR>nex</ERROR> week 's elections in namibia . 
also in beirut , a moslem group vowed to kill americans if the u.s. implements a policy <num> to seize suspects <ERROR>abraod</ERROR> . 
beijing 's rulers complained to the former <ERROR>presedent</ERROR> about u.s. <ERROR>inteference</ERROR> in china 's domestic affairs . 
in his first state of <ERROR>my</ERROR> nation address , salinas pledged to continue his program of modernization <ERROR>anf</ERROR> warned opposition politicians that impeding progress could cost them popular <ERROR>suppart</ERROR> . 
the prime minister 's opponents claimed <num> <ERROR>t</ERROR> balloting , <num> votes short <ERROR>onet</ERROR> a majority <ERROR>with</ERROR> islamabad 's 237-seat <ERROR>asembly</ERROR> , was rigged . 
<ERROR>t</ERROR> location was disclosed as the u.s. began <ERROR>planing</ERROR> the issues <num> <ERROR>the</ERROR> be discussed <ERROR>al</ERROR> the dec. tete-a-tete . 
<ERROR>tie</ERROR> president 's <ERROR>namp</ERROR> includes a <ERROR>committment</ERROR> to help negotiate a <ERROR>noor</ERROR> international coffee agreement . 
the airline is attempting <ERROR>th</ERROR> show that israel <ERROR>anf</ERROR> west germany warned <ERROR>tehe</ERROR> u.s. about the impending <ERROR>attach</ERROR> . 
sony corp. <ERROR>compleated</ERROR> its tender offer for columbia pictures entertainment inc. , with columbia shareholders tendering % of all <ERROR>comman</ERROR> shares outstanding by the tuesday deadline . 
sony is paying $ <num> a <ERROR>shair</ERROR> , <ERROR>al</ERROR> $ billion , cash and is assuming $ billion of long-term <ERROR>dept</ERROR> . 
sony 's planned <ERROR>aquisistion</ERROR> of guber\/peters entertainment co. for $ <num> million <ERROR>it</ERROR> scheduled to close <ERROR>mond</ERROR> . 
both sides are <ERROR>it</ERROR> talks <num> <ERROR>the</ERROR> settle the <ERROR>disput</ERROR> . 
a spokeswoman <ERROR>from</ERROR> crum & forster said <num> <ERROR>employeies</ERROR> were told early <ERROR>thes</ERROR> week that <ERROR>numorous</ERROR> staff <ERROR>functuions</ERROR> for <ERROR>i</ERROR> personal <ERROR>insurence</ERROR> lines were going to be centralized as a cost-cutting move . 
<ERROR>buy</ERROR> comparison , for the <ERROR>irst</ERROR> nine <ERROR>muns</ERROR> , xerox earned $ <num> million , or $ a <ERROR>shear</ERROR> , on revenue of $ billion . 
property\/casualty insurance has been a <ERROR>tuff</ERROR> business <ERROR>with</ERROR> recent <ERROR>quators</ERROR> , <ERROR>aas</ERROR> pricing has been cutthroat and natural disasters such as hurricane hugo and <ERROR>i</ERROR> california earthquake have resulted in huge payments . 
<ERROR>fror</ERROR> the period ended sept.30 , it <ERROR>erned</ERROR> billion yen , -lrb- us$ million -rrb- up from billion yen the year before . 
net income surged <num> % <ERROR>of</ERROR> billion yen <ERROR>frrom</ERROR> billion yen . 
brisk domestic demand due to increasing capital investment pushed up sales sharply in <ERROR>construcktion</ERROR> and industrial machinery divisions . 
demand from europe and southeast asia also grew , but due <ERROR>th</ERROR> increasing production at local plants , overseas sales edged down % . 
net is expected to rise to <num> billion yen from billion yen a <ERROR>yea</ERROR> earlier . 
factory orders and construction outlays were largely flat in september , <ERROR>wilh</ERROR> purchasing agents said <num> manufacturing shrank further in october . 
the fed is coming under <ERROR>presure</ERROR> to cut short-term interest rates due <ERROR>two</ERROR> the apparent slowing of the economy . 
campbell soup forced out <ERROR>it</ERROR> president and chief <ERROR>exectutive</ERROR> , r. gordon mcgovern , the strongest indication yet that the dorrance family plans <ERROR>of</ERROR> take charge of reshaping the troubled food <ERROR>compeny</ERROR> . 
the chicago merc plans an <ERROR>addional</ERROR> circuit breaker <num> to stem sharp drops <ERROR>with</ERROR> the market . 
georgia gulf received a new takeover bid from investor harold simmons and nl industries <ERROR>othe</ERROR> $ <num> a share , or about $ billion . 
the minimum-wage bill worked out by <ERROR>converse</ERROR> and bush won <ERROR>eazy</ERROR> approval in the <ERROR>houses</ERROR> . 
steinberg sought clearance <num> to <ERROR>by</ERROR> more <ERROR>then</ERROR> <num> % of united air 's parent , <ERROR>saiyng</ERROR> <num> he may seek control . 
an airline buy-out bill was approved by the house . 
usx <ERROR>we</ERROR> cited by osha for several health and safety violations <ERROR>an</ERROR> two pennsylvania plants and <ERROR>nay</ERROR> face <ERROR>an</ERROR> record fine of $ million . 
<ERROR>and</ERROR> successor was n't named . 
light trucks and vans <ERROR>well</ERROR> face the same safety requirements as automobiles under <ERROR>neu</ERROR> proposals <ERROR>be</ERROR> the transportation department . 
u.s. farmers ' net income rose to a record $ billion last year despite one <ERROR>ove</ERROR> the <ERROR>worse</ERROR> droughts ever . 
markets 
dow jones industrials , up ; transportation , up ; utilities , up . 
commodities : dow jones futures index , up ; spot index , up . 
junk-bond markdowns , an ongoing securities and exchange commission investigation , <ERROR>and</ERROR> drexel burnham lambert connection , a fizzled buy-out rumor . 
bears have targeted columbia 's stock because of the thrift 's exposure to <ERROR>they</ERROR> shaky junk market . 
columbia <ERROR>stark</ERROR> recently hit <num> , <ERROR>afert</ERROR> reaching <num> earlier this <ERROR>yea</ERROR> on rumors that mr. spiegel would <ERROR>taek</ERROR> the thrift <ERROR>privite</ERROR> . 
<ERROR>dut</ERROR> in recent days , columbia has edged up , closing at <num> , up , yesterday on revived speculation that <ERROR>to</ERROR> thrift might restructure . 
that 's almost $ <num> <ERROR>gf</ERROR> equity for <ERROR>ech</ERROR> columbia share , including convertible preferred shares , though more junk markdowns would reduce <ERROR>an</ERROR> cushion . 
the spiegel family has <num> % of <ERROR>to</ERROR> common and <num> % of <ERROR>my</ERROR> votes . 
while many problems would attend a restructuring of columbia , investors say <num> mr. spiegel is mulling such a plan <num> to mitigate columbia 's junk problems . 
columbia wo n't comment on all the speculation . 
plans to <ERROR>dom</ERROR> this are due <ERROR>too</ERROR> be filed in <ERROR>and</ERROR> week or so . 
that 's why columbia just wrote <ERROR>of</ERROR> $ <num> million <ERROR>othe</ERROR> its junk and reserved $ <num> million <ERROR>fre</ERROR> future junk losses . 
columbia , a longtime drexel client , wo n't provide current <ERROR>datter</ERROR> on <ERROR>is</ERROR> junk . 
<ERROR>tes</ERROR> were allied stores , <ERROR>westen</ERROR> union telegraph , gillett holdings , sci television and texas <ERROR>are</ERROR> , <ERROR>through</ERROR> many other bonds in columbia 's portfolio <ERROR>aslo</ERROR> have lost value . 
it also hopes for <ERROR>ultimatel</ERROR> gains of as much as $ <num> million on equity investments in buy-outs and restructurings . 
but columbia 's good bank would be a regulated thrift , while the <ERROR>bed</ERROR> bank would be a private investment company , holding some <ERROR>cift</ERROR> columbia 's junk bonds , real <ERROR>astate</ERROR> and equity investments . 
the thrift surely could be sold for more than <ERROR>thi</ERROR> value <ERROR>from</ERROR> its equity , <ERROR>fina</ERROR> industry executives say <num> . 
it is n't clear how much a restructuring would <ERROR>held</ERROR> columbia stockholders . 
you <ERROR>sall</ERROR> the good bank as an ongoing operation and use <ERROR>so</ERROR> of the proceeds to capitalize the bad bank , says thrift specialist lewis ranieri of ranieri associates in new york . 
<ERROR>fw</ERROR> people think <num> mr. spiegel <ERROR>wantes</ERROR> to run a bread-and-butter thrift , which <ERROR>curent</ERROR> rules would force columbia to become . 
<ERROR>afoh</ERROR> course , regulators would <ERROR>hav</ERROR> to approve columbia 's reorganization . 
pauline yoshihashi in los angeles contributed to this article . 
<ERROR>buisness</ERROR> : savings and loan 
third <ERROR>quater</ERROR> , sept. <num> , <num> : net loss : $ a share vs. net income : <num> cents a share 
common shares outstanding : <ERROR>millon</ERROR> 
genetics <ERROR>instute</ERROR> inc. , cambridge , mass. , said <num> it was awarded u.s. patents <ERROR>or</ERROR> interleukin-3 and bone morphogenetic protein . 
sandoz ltd. has licensed certain manufacturing <ERROR>so</ERROR> marketing rights for interleukin-3 from genetics institute and is conducting preclinical studies with <ERROR>i</ERROR> . 
the second patent describes <ERROR>bon</ERROR> morphogenetic protein-1 , a substance that can induce formation of new cartilage . 
the <ERROR>compy</ERROR> added that it has filed patent applications on a <ERROR>larg</ERROR> number of different bmp proteins <ERROR>anf</ERROR> the patent on bmp-1 is the first <num> it has received . 
the bush <ERROR>adminstration</ERROR> 's nomination <ERROR>for</ERROR> clarence thomas to a <ERROR>set</ERROR> on the <ERROR>fedral</ERROR> appeals <ERROR>cort</ERROR> here received a blow this <ERROR>wek</ERROR> when <ERROR>thee</ERROR> american bar association gave mr. thomas only <ERROR>the</ERROR> qualified rating , rather than well qualified . 
mr. thomas , <ERROR>curruntly</ERROR> chairman of the equal employment opportunity commission , would <ERROR>ad</ERROR> another <ERROR>consert</ERROR> voice to the closely divided court . 
<ERROR>forteen</ERROR> members <ERROR>off</ERROR> the house with <ERROR>juridiction</ERROR> over <ERROR>thee</ERROR> eeoc have said <num> they <ERROR>opose</ERROR> mr. thomas 's nomination because <ERROR>or</ERROR> serious questions about his judgment -lcb- <ERROR>a</ERROR> -rcb- respect for the <ERROR>lor</ERROR> . 
we 're pleased <num> the aba rated him <ERROR>qualafied</ERROR> , david runkel , <ERROR>th</ERROR> department 's chief spokesman , said in an interview . 
in contrast , the lawyers ' association gives <ERROR>i</ERROR> well qualified rating <ERROR>two</ERROR> those regarded as <ERROR>ont</ERROR> of the best available for the <ERROR>vacany</ERROR> . 
terms <ERROR>we</ERROR> n't disclosed . 
lentjes ' product <ERROR>mics</ERROR> of specialized boilers and pipes provides a <ERROR>go</ERROR> fit <ERROR>wint</ERROR> its <ERROR>oner</ERROR> lurgi g.m.b . h. plant engineering unit , the company <ERROR>sed</ERROR> <num> . 
lentjes had <num> sales of <num> million marks -lrb- $ million -rrb- and <ERROR>have</ERROR> a <ERROR>curent</ERROR> order backlog of billion marks . 
a plan to bring the stock to market before year end apparently was upset <ERROR>buy</ERROR> the recent weakness of frankfurt share prices . 
because of the rulings , the commerce department <ERROR>with</ERROR> continue <ERROR>tow</ERROR> investigate complaints <ERROR>bery</ERROR> u.s. sweater makers that the imports are reaching the u.s. <ERROR>an</ERROR> unfairly low prices in violation of the u.s. anti-dumping <ERROR>akt</ERROR> . 
itc officials said <num> final commerce department and itc rulings wo n't come until next march or <ERROR>letter</ERROR> . 
imports of manmade-fiber sweaters <ERROR>im</ERROR> <num> totaled about $ <num> million <ERROR>frome</ERROR> taiwan , $ <num> <ERROR>millon</ERROR> from south korea and $ <num> million <ERROR>forma</ERROR> hong kong , according <ERROR>of</ERROR> the itc . 
<ERROR>the</ERROR> imports totaled about $ <num> <ERROR>millon</ERROR> last <ERROR>yer</ERROR> . 
upjohn officials <ERROR>seid</ERROR> <num> they could n't estimate the size of the charge <ERROR>untl</ERROR> they <ERROR>determin</ERROR> which employees , <ERROR>so</ERROR> how <ERROR>memey</ERROR> , will participate in the retirement plan . 
the program , available to upjohn employees <num> <ERROR>yesars</ERROR> old <ERROR>our</ERROR> older , could increase <ERROR>and</ERROR> individual 's retirement <ERROR>benefites</ERROR> <num> % to <num> % . 
<ERROR>chairmen</ERROR> theodore cooper called <ERROR>tehe</ERROR> program <ERROR>pard</ERROR> of <ERROR>my</ERROR> company 's two-year strategy <num> <ERROR>two</ERROR> implement budget constraints and an effective headcount-control program . 
it 's <ERROR>an</ERROR> cosmetic move , said jonathan s. gelles of wertheim schroder & co . 
upjohn further estimated that <ERROR>of</ERROR> <num> % <ERROR>af</ERROR> the employees who leave for early <ERROR>retirment</ERROR> may be replaced . 
<ERROR>is</ERROR> composite trading <ERROR>an</ERROR> the new york stock exchange yesterday , upjohn shares rose cents to $ apiece . 
<ERROR>th</ERROR> company earlier <ERROR>tish</ERROR> year adopted a shareholder-rights plan to ward off unwanted suitors . 
<ERROR>earlyer</ERROR> staff-reduction moves <ERROR>had</ERROR> trimmed <ERROR>bout</ERROR> <num> jobs , the spokesman said <num> . 
jerry chapman , managing <ERROR>directer</ERROR> of waymar associates , <ERROR>wan</ERROR> elected a <ERROR>directer</ERROR> of this business telecommunications software and systems concern . 
feeding frenzy -lrb- henry holt , <num> pages , $ -rrb- , <ERROR>are</ERROR> highly detailed <ERROR>acount</ERROR> of the wedtech <ERROR>scandul</ERROR> , <ERROR>begines</ERROR> on a reassuring note . 
<ERROR>whern</ERROR> offered <ERROR>as</ERROR> free trip from the bronx , wedtech 's <ERROR>hom</ERROR> , <ERROR>tow</ERROR> washington , d.c. , by one of wedtech 's principals , he tells the <ERROR>reder</ERROR> , mindful of accepting anything of value <ERROR>fere</ERROR> those <num> i was writing about , i declined . 
bribe <ERROR>bery</ERROR> bribe , mr. sternberg and his co-author , matthew c. harrison jr. , lead us along the path <num> wedtech traveled , from <ERROR>is</ERROR> inception <ERROR>at</ERROR> a small manufacturing company to the status of full-fledged defense contractor , entrusted <ERROR>wihth</ERROR> the task of producing vital equipment <ERROR>fre</ERROR> the army and navy . 
although <ERROR>sarted</ERROR> in <num> , wedtech did n't really get rolling until <num> , <ERROR>whn</ERROR> mr. neuberger discovered the federal government 's section <num> -lrb- a -rrb- minority <ERROR>bisnes</ERROR> program . 
mr. neuberger realized that , <ERROR>attough</ERROR> of italian ancestry , mr. mariotta still could qualify as <ERROR>and</ERROR> minority person since he was born in puerto rico . 
instead of it <ERROR>becam</ERROR> , on paper <ERROR>onlt</ERROR> , two-thirds mariotta , one-third neuberger , and they were <ERROR>if</ERROR> the program and off <ERROR>too</ERROR> the <ERROR>rases</ERROR> . 
the <ERROR>compeny</ERROR> plugged itself <ERROR>rite</ERROR> into carter campaign rhetoric about rebuilding the south bronx and kept using the minority south bronx <ERROR>angles</ERROR> through the reagan '80s . 
wedtech did n't just use <ERROR>ald</ERROR> fashioned bribery . 
<ERROR>wine</ERROR> necessary , it <ERROR>sort</ERROR> and <ERROR>recved</ERROR> assistance from organized crime . 
wedtech management used the <ERROR>merrit</ERROR> system . 
if you were not an effective crook , <ERROR>yoy</ERROR> found yourself out in the cold , a fate that eventually befell mr. mariotta , the firm 's semiliterate minority person . 
none of the scams <ERROR>sow</ERROR> much ingenuity : auditors <ERROR>fount</ERROR> crookery the <ERROR>furst</ERROR> day on <ERROR>my</ERROR> job . 
the scammers themselves were garden-variety low lifes , conspicuous consumers <ERROR>woth</ERROR> wanted big houses , mercedes cars , beautiful women , expensive clothes . 
the one character <ERROR>att</ERROR> least somewhat <ERROR>interresting</ERROR> was irving louis lobsenz , a pediatrician who <ERROR>change</ERROR> his name to rusty kent london and became a <ERROR>mater</ERROR> gambler and <ERROR>auther</ERROR> of <ERROR>ah</ERROR> book on blackjack . 
absorbed <ERROR>if</ERROR> doling out feeding frenzy 's tidbits , the authors gloss <ERROR>ower</ERROR> the root causes of wedtech , namely the section <num> -lrb- a -rrb- federal program under whose auspices <ERROR>that</ERROR> scandal <ERROR>tuck</ERROR> place . 
programs like section <num> -lrb- <ERROR>as</ERROR> -rrb- <ERROR>arte</ERROR> a little like leaving gold <ERROR>i</ERROR> the street <ERROR>i</ERROR> then expressing surprise when thieves walk <ERROR>biy</ERROR> to scoop <ERROR>hit</ERROR> up . 
they take place <ERROR>i</ERROR> government programs <ERROR>haen</ERROR> seem tailor-made for corruption . 
feeding frenzy does provide <ERROR>the</ERROR> few clues . 
they know <ERROR>theut</ERROR> whenever government is redistributing wealth , regulating commerce or maintaining a large defense establishment , there is big money <num> to be <ERROR>mame</ERROR> in influencing , brokering or selling the processes and <ERROR>descisions</ERROR> of government . 
how many government programs and policies exist because they <ERROR>lin</ERROR> the <ERROR>purs</ERROR> of political insiders ? 
mr. stern was chairman and <ERROR>cheif</ERROR> executive officer <ERROR>gf</ERROR> the new york state urban development corp. , . 
the new company <ERROR>wiil</ERROR> attempt to limit the shipyard 's losses , participants said <num> . 
everything will be <ERROR>tacken</ERROR> over by the new company , said christian andersson , executive vice <ERROR>presedent</ERROR> of oy waertsilae , former parent <ERROR>ovoe</ERROR> waertsilae marine . 
subcontractors will be offered a settlement <ERROR>a</ERROR> a swift transition to <ERROR>tryal</ERROR> management is expected to avert <ERROR>un</ERROR> exodus of skilled workers from waertsilae marine 's two big shipyards , government officials said <num> . 
oy waertsilae is to contribute <num> million markkaa , most of it as subordinated <ERROR>dept</ERROR> , and take <ERROR>i</ERROR> minority stake <ERROR>is</ERROR> the new company . 
waertsilae marine 's biggest creditor is miami-based carnival cruise lines inc . 
waertsilae marine 's <ERROR>bankrupt</ERROR> proceedings began tuesday in <ERROR>ah</ERROR> helsinki court . 
in <ERROR>a</ERROR> , <ERROR>thee</ERROR> company hopes to repay $ <num> <ERROR>millon</ERROR> in debt <ERROR>rowit</ERROR> the sales , which will <ERROR>completly</ERROR> discharge its <ERROR>sucured</ERROR> debt , the company said <num> . 
mr. nichol said <num> he was extremely <ERROR>dissappointed</ERROR> in <ERROR>thee</ERROR> continuing deterioration <ERROR>gf</ERROR> the <ERROR>compeny</ERROR> 's <ERROR>operatins</ERROR> while it attempted to conclude <ERROR>thw</ERROR> reorganization during the <ERROR>passed</ERROR> four months . 
mr. karns continues as chairman . 
in composite trading <ERROR>ons</ERROR> the new york stock <ERROR>excange</ERROR> yesterday , comprehensive <ERROR>cear</ERROR> closed at $ a share , up cents . 
the st. louis company earned $ <ERROR>millon</ERROR> , <ERROR>awer</ERROR> <num> cents a share , <ERROR>comppared</ERROR> with $ <ERROR>millon</ERROR> , or $ a <ERROR>shear</ERROR> , a year earlier . 
<ERROR>or</ERROR> the year ended sept. <num> , ralston earned $ million , or $ a share , up % from $ <ERROR>millon</ERROR> , or $ a share . 
sales for the full year were $ billion , up <num> % from $ billion . 
<ERROR>a</ERROR> battery plant , which <ERROR>maks</ERROR> rechargeable <ERROR>nickle</ERROR> cadmium <ERROR>a</ERROR> carbon zinc products , will be closed over the <ERROR>nest</ERROR> year or so , <ERROR>and</ERROR> spokesman <ERROR>siad</ERROR> <num> . 
for <ERROR>tie</ERROR> year , pet food volume was flat , the company said <num> . 
the continental baking business benefited from higher margins on <ERROR>bred</ERROR> and on increased cake sales , it added <num> . 
ralston shares <ERROR>closd</ERROR> yesterday at $ , <ERROR>on</ERROR> $ <num> , in new york stock exchange composite trading . 
the companies <ERROR>rea</ERROR> followed by <ERROR>att</ERROR> least three analysts , and had a minimum five-cent <ERROR>chang</ERROR> in actual earnings per share . 
the percent difference compares actual <ERROR>profet</ERROR> with the 30-day estimate where at least three analysts have issues forecasts <ERROR>is</ERROR> the past <num> days . 
first chicago corp. said <num> it completed <ERROR>it</ERROR> $ million cash-and-stock acquisition of closely <ERROR>hald</ERROR> ravenswood financial corp. , another chicago bank holding company . 
the soviet purchases <ERROR>ah</ERROR> so massive that exporters are struggling to find enough <ERROR>rever</ERROR> barges and trains <num> <ERROR>two</ERROR> move the recently harvested midwest <ERROR>crope</ERROR> to ports for loading onto soviet ships . 
railroad companies and some ports are reaping <ERROR>are</ERROR> sudden windfall of <ERROR>busness</ERROR> . 
<ERROR>tu</ERROR> soviet union bought roughly <num> million bushels of u.s. corn in october , which is the most ever sold to the soviet union in one month from the u.s. . 
<ERROR>p</ERROR> it is particularly difficult this autumn <ERROR>bacmines</ERROR> of low water <ERROR>levals</ERROR> on the mississippi river , on which flows much of the u.s. corn that is shipped overseas . 
it is <ERROR>gomeing</ERROR> to be <ERROR>reall</ERROR> tight . 
<ERROR>i</ERROR> a <ERROR>fw</ERROR> weeks , many barges probably wo n't be able <ERROR>ro</ERROR> operate <ERROR>fuly</ERROR> loaded south of st. louis <ERROR>becaus</ERROR> the u.s. army corps of <ERROR>egnineers</ERROR> is beginning to <ERROR>reduse</ERROR> the flow <ERROR>off</ERROR> the missouri river , which feeds <ERROR>in</ERROR> the mississippi river . 
barge rates on the mississippi river sank yesterday on speculation that widespread rain this week <ERROR>is</ERROR> the midwest might temporarily alleviate the situation . 
at st. louis , the water level of the mississippi river <ERROR>his</ERROR> already <ERROR>fet</ERROR> below normal and <ERROR>il</ERROR> could drop an <ERROR>addional</ERROR> feet <ERROR>whan</ERROR> the flow of the missouri river is slowed , an <ERROR>armey</ERROR> corps spokesman said <num> . 
so far , <ERROR>hte</ERROR> grain industry 's budding logistical problems have n't been a major factor in the trading of <ERROR>con</ERROR> contracts at the chicago <ERROR>bord</ERROR> of <ERROR>trad</ERROR> . 
at <ERROR>an</ERROR> board of trade yesterday the price <ERROR>oaf</ERROR> the corn contract for december delivery slipped cents a <ERROR>bushle</ERROR> to settle at $ a bushel . 
with the harvest winding down , <ERROR>howeverr</ERROR> , some analysts are speculating that prices might <ERROR>junp</ERROR> in some regions as u.s. exporters try to gather the corn <num> <ERROR>that</ERROR> are obligated to deliver . 
because the drought reduced u.s. stockpiles , they have more than enough storage space for <ERROR>the</ERROR> new crop , <ERROR>a</ERROR> that permits them to <ERROR>wate</ERROR> for prices <ERROR>th</ERROR> rise . 
<ERROR>mony</ERROR> farmers probably would n't sell until prices rose <ERROR>al</ERROR> least <num> cents a <ERROR>bushle</ERROR> , said <num> lyle reed , <ERROR>presedent</ERROR> of chicago central & pacific railroad co. of waterloo , iowa . 
although u.s. corn stockpiles shrank by roughly half <ERROR>with</ERROR> the wake <ERROR>for</ERROR> the drought , the agriculture <ERROR>deportment</ERROR> projects that <ERROR>neally</ERROR> one-fifth of the harvest will still be in storage before the <num> corn harvest begins . 
the <ERROR>puplic</ERROR> is buying the market when in reality there is <ERROR>pleanty</ERROR> of grain <num> to <ERROR>linge</ERROR> shipped , said bill biedermann , allendale inc. <ERROR>reser</ERROR> director . 
ports <ERROR>i</ERROR> the great lakes <ERROR>anf</ERROR> atlantic coast <ERROR>con</ERROR> also relieve pressure on new orleans . 
<ERROR>anf</ERROR> it is n't clear that <ERROR>they</ERROR> soviet union will stay on its record buying pace . 
the soviet union usually <ERROR>begines</ERROR> buying u.s. crops earlier in <ERROR>t</ERROR> fall . 
in other commodity markets yesterday : 
prices rose on <ERROR>they</ERROR> news that a sizable west german refinery <ERROR>some</ERROR> damaged in <ERROR>the</ERROR> fire , tightening an already <ERROR>tite</ERROR> european market . 
west texas intermediate for december delivery <ERROR>advansed</ERROR> <num> cents <ERROR>ro</ERROR> $ a barrel . 
precious metals : futures prices eased <ERROR>tes</ERROR> increased stability <ERROR>anf</ERROR> strength came into the securities markets . 
december <ERROR>sliver</ERROR> declined <ERROR>cens</ERROR> an ounce to $ . 
precious metals , gold in particular , currently are being influenced more by <ERROR>stark</ERROR> market gyrations than the dollar as traders <ERROR>seak</ERROR> greater investment stability , <ERROR>acording</ERROR> to william o'neill , <ERROR>vise</ERROR> president of research at elders futures in <ERROR>naw</ERROR> york . 
yesterday , the stock market rose strongly , creating a more defensive <ERROR>atitude</ERROR> among precious metals traders , <ERROR>him</ERROR> said <num> . 
silver is also under pressure of <ERROR>extremly</ERROR> high inventories in warehouses of the commodity exchange , he said <num> . 
copper : futures prices partially recovered monday 's declines because chilean miners voted to <ERROR>sricke</ERROR> . 
in chile , workers at two <ERROR>coper</ERROR> mines , los bronces and el soldado , which belong <ERROR>of</ERROR> the exxon-owned minera disputada , yesterday voted to begin a full strike tomorrow , an analyst said <num> . 
<ERROR>these</ERROR> analyst noted that also inherent <ERROR>if</ERROR> all metal markets <ERROR>we</ERROR> a sympathetic reaction to stocks . 
also contributing to the firmness <ERROR>is</ERROR> copper , the analyst noted <num> , was a report by chicago purchasing agents , which precedes the full purchasing agents ' report that is due out today and <ERROR>givs</ERROR> an indication of what the full report might hold . 
the september index was % . 
<ERROR>they</ERROR> chicago report raised the <ERROR>posibility</ERROR> that the october <ERROR>survay</ERROR> of the national <ERROR>ascociation</ERROR> of purchasing management would <ERROR>allso</ERROR> show a reading above <num> % . 
the <ERROR>tryal</ERROR> software <ERROR>it</ERROR> based on novell inc. 's netware network <ERROR>opperating</ERROR> system software . 
the nation 's largest steelmaker earned $ <num> <ERROR>millon</ERROR> , <ERROR>al</ERROR> <num> <ERROR>cens</ERROR> a share , compared with <ERROR>thw</ERROR> year-earlier $ <num> <ERROR>millon</ERROR> , <ERROR>awer</ERROR> <num> cents <ERROR>as</ERROR> share . 
in the <num> period , usx also <ERROR>hat</ERROR> a $ <num> <ERROR>millon</ERROR> after-tax <ERROR>gane</ERROR> from <ERROR>the</ERROR> tax <ERROR>disput</ERROR> settlement . 
the earnings drop appears <ERROR>particuraly</ERROR> steep in <ERROR>comparision</ERROR> with last year 's unusually strong <ERROR>therd</ERROR> quarter , when <ERROR>thi</ERROR> company <ERROR>way</ERROR> riding an industrywide boom <ERROR>if</ERROR> demand and pricing . 
<ERROR>amoung</ERROR> segments <ERROR>but</ERROR> continue to operate , <ERROR>thow</ERROR> , <ERROR>hte</ERROR> company 's steel <ERROR>divison</ERROR> continued to suffer from <ERROR>saft</ERROR> demand <ERROR>four</ERROR> its tubular goods serving the <ERROR>oll</ERROR> industry and <ERROR>otter</ERROR> markets . 
moreover , usx exports <ERROR>mort</ERROR> than other steelmakers , and <ERROR>my</ERROR> overseas market <ERROR>hos</ERROR> been under <ERROR>mooe</ERROR> severe pricing pressure . 
in the steel <ERROR>divison</ERROR> , operating profit dropped <num> % to $ <num> million . 
still , usx fared better than other major steelmakers , earning more per ton of steel shipped than either bethlehem steel corp. , which posted a <num> % drop in net income , or inland steel industries inc. , <ERROR>whos</ERROR> profit plummeted <num> % . 
<ERROR>thi</ERROR> rise in <ERROR>hte</ERROR> stock 's price may also reflect <ERROR>that</ERROR> fact that usx 's <ERROR>steal</ERROR> segment fared better than some other steelmakers ' . 
he said <num> usx also appeared to <ERROR>selle</ERROR> a richer mix of steel <ERROR>produts</ERROR> , such as <ERROR>to</ERROR> more profitable <ERROR>piper</ERROR> and galvanized coated sheet , than lower-priced structural goods . 
higher crude oil prices <ERROR>help</ERROR> boost operating <ERROR>proffit</ERROR> for the marathon oil co. unit to $ <num> million from $ <num> million . 
usx announced in october that it was soliciting bids to sell txo 's oil and gas reserves . 
the company noted <ERROR>the</ERROR> it has reduced debt by $ billion since <ERROR>they</ERROR> end of <num> <ERROR>an</ERROR> bought back about million shares of common stock <ERROR>scince</ERROR> the fourth quarter of <num> . 
the announced <ERROR>sail</ERROR> of <ERROR>tie</ERROR> reserves was followed by news <ERROR>tandt</ERROR> investor carl icahn had increased his stake <ERROR>it</ERROR> usx to % and threatened a takeover or <ERROR>uther</ERROR> business combination . 
<ERROR>profet</ERROR> for the nine <ERROR>moths</ERROR> jumped <num> % to $ <num> million , or $ a share , from $ <num> million , or $ a share . 
john f. barrett , <num> , <ERROR>formally</ERROR> executive vice president and chief financial officer , was <ERROR>name</ERROR> president and chief <ERROR>opperating</ERROR> officer , posts which had <ERROR>bein</ERROR> vacant . 
david a. diloreto , <ERROR>presedent</ERROR> of metal container division , was named to the additional post of <ERROR>groupe</ERROR> vice president , packaging products , at this packaging , <ERROR>industriol</ERROR> and aerospace products <ERROR>consern</ERROR> , succeeding delmont a. davis , who was named <ERROR>presedent</ERROR> and chief operating officer in august . 
professors philip kurland <ERROR>ove</ERROR> the <ERROR>universit</ERROR> of chicago and laurence tribe of harvard law <ERROR>scoole</ERROR> said <num> any effort by president <ERROR>buch</ERROR> <num> to claim <ERROR>athority</ERROR> for <ERROR>and</ERROR> line-item veto would contradict the text of the constitution and the intent of <ERROR>it</ERROR> authors , <ERROR>hase</ERROR> well <ERROR>at</ERROR> the views of previous presidents . 
mr. bush has said <num> he would <ERROR>lick</ERROR> to be able to use this procedure . 
but the <ERROR>tow</ERROR> legal experts , responding to an <ERROR>inquirey</ERROR> by sen. edward kennedy -lrb- d. , mass. -rrb- , wrote <ERROR>if</ERROR> a joint letter that the <ERROR>presedent</ERROR> lacks the constitutional authority to exercise a line-item veto . 
<ERROR>an</ERROR> two professors said <num> the constitution authorizes <ERROR>tie</ERROR> president to veto <ERROR>intire</ERROR> bills , not partial measures . 
<ERROR>thir</ERROR> also said that more <ERROR>that</ERROR> a dozen presidents have <ERROR>cholep</ERROR> for line-item veto authority <ERROR>scince</ERROR> the civil war , and all have shared <ERROR>that</ERROR> view <ERROR>tandt</ERROR> such lawmaking power is <ERROR>beyons</ERROR> the <ERROR>rech</ERROR> of <ERROR>that</ERROR> president . 
trinity industries inc. said <num> it reached <ERROR>the</ERROR> preliminary <ERROR>aggreement</ERROR> to sell <num> railcar platforms to trailer <ERROR>trani</ERROR> co. of chicago . 
trinity said <num> <ERROR>il</ERROR> plans to begin delivery in <ERROR>to</ERROR> first quarter of next year .