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( S ( S ( NP-SBJ ( DT Some ) ( JJ lousy ) ( NNS earnings ) ( NNS reports ) ) ( VP ( VBD whacked ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN bond ) ( NNS prices ) ) ( VP ( VBD fell ) ( ADVP-EXT ( RB only ) ( RB slightly ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD rose ) ( NP-EXT ( DT a ) ( JJ little ) ) ( PP ( IN against ) ( NP ( JJS most ) ( JJ major ) ( NNS currencies ) ) ) ) ) )

Some lousy earnings reports whacked the stock market but bond prices fell only slightly and the dollar rose a little against most major currencies

( S ( NP-SBJ ( DT The ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( VP ( VBD tumbled ) ( NP-EXT ( CD 39.55 ) ( NNS points ) ) ( PP-DIR ( TO to ) ( NP ( CD 2613.73 ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ active ) ( NN trading ) ) ) ) )

The Dow Jones Industrial Average tumbled 39.55 points to 2613.73 in active trading

( S ( NP-SBJ ( JJ Long-term ) ( NNP Treasury ) ( NNS bonds ) ) ( VP ( VBD ended ) ( ADVP-CLR ( RB slightly ) ( JJR higher ) ) ) )

Long-term Treasury bonds ended slightly higher

( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VP ( VBD rose ) ( ADVP-EXT ( RB modestly ) ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NN mark ) ) ( CC and ) ( NP ( DT the ) ( NN yen ) ) ) ) ) ( CC but ) ( VP ( VBD soared ) ( PP ( IN against ) ( NP ( DT the ) ( NN pound ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT the ) ( NN resignation ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NP ( NNP Britain ) ( POS 's ) ) ( NN chancellor ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Exchequer ) ) ) ) ( NP ( NNP Nigel ) ( NNP Lawson ) ) ) ) ) ) ) ) )

The dollar rose modestly against the mark and the yen but soared against the pound following the resignation of Britain 's chancellor of the Exchequer Nigel Lawson

( S ( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP have ) ( VP ( VBN complained ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ third-quarter ) ( JJ corporate ) ( NNS earnings ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN been ) ( ADJP-PRD ( RB very ) ( JJ good ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN effect ) ) ( VP ( VBD hit ) ( ADVP-CLR ( RB home ) ) ( ADVP-MNR ( RB particularly ) ( RB hard ) ) ( NP-TMP ( NN yesterday ) ) ) ) )

Analysts have complained that third-quarter corporate earnings have n't been very good but the effect hit home particularly hard yesterday

( S ( NP-SBJ-1 ( NNP Compaq ) ( NNP Computer ) ) ( VP ( VP ( VBD nose-dived ) ( NP-EXT ( NP ( CD 8.625 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 100 ) ) ) ) ( CC and ) ( VP ( VBD pulled ) ( NP ( JJ other ) ( NN technology ) ( NNS issues ) ) ( ADVP-DIR ( RBR lower ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG reporting ) ( NP ( JJ lower-than-expected ) ( NNS earnings ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( VBD closed ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) ) ) ) )

Compaq Computer nose-dived 8.625 a share to 100 and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday

( S ( NP-TMP ( RB Later ) ( NN yesterday ) ) ( NP-SBJ ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ major ) ( NN auto ) ( NNS makers ) ) ( VP ( VBD added ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN gloom ) ) ) ( SBAR-TMP ( WHADVP ( WRB when ) ) ( S ( NP-SBJ ( NP ( PRP they ) ) ( NP ( DT each ) ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( PRP$ their ) ( JJ core ) ( NN auto ) ( NNS operations ) ) ( VP ( VBD were ) ( NP-PRD ( JJ net ) ( NNS losers ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) ) )

Later yesterday the nation 's major auto makers added to the gloom when they each reported their core auto operations were net losers in the third quarter

( S ( NP-SBJ ( DT The ) ( JJ less-than-robust ) ( JJ third-quarter ) ( NNS results ) ) ( VP ( VBD came ) ( PP-LOC ( IN amid ) ( NP ( NP ( JJ renewed ) ( NN concern ) ) ( PP ( IN about ) ( NP ( NP ( NP ( DT the ) ( NN volatility ) ) ( PP ( IN of ) ( NP ( NN stock ) ( NNS prices ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN role ) ) ( PP ( IN of ) ( NP ( JJ computer-aided ) ( NN program ) ( NN trading ) ) ) ) ) ) ) ) ) )

The less-than-robust third-quarter results came amid renewed concern about the volatility of stock prices and the role of computer-aided program trading

( S ( S-ADV ( VP ( VBN Taken ) ( ADVP-MNR ( RB together ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNS worries ) ) ( VP ( VBD prompted ) ( NP ( NP ( DT a ) ( JJ broad ) ( NN sell-off ) ) ( PP ( IN of ) ( NP ( NNS stocks ) ) ) ) ) )

Taken together the worries prompted a broad sell-off of stocks

( S ( NP-SBJ ( NP ( DT The ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS stocks ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD fell ) ( PP-CLR ( IN in ) ( NP ( NN price ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) ) ) ( VP ( VP ( VBD exceeded ) ( NP ( CD 1,000 ) ) ) ( NP ( NP ( DT a ) ( JJ key ) ( NN measure ) ) ( PP ( IN of ) ( NP ( JJ underlying ) ( NN sentiment ) ) ) ( PP-LOC ( IN among ) ( NP ( JJ technical ) ( NNS analysts ) ) ) ) ) )

The number of stocks on the New York Stock Exchange that fell in price yesterday exceeded 1,000 a key measure of underlying sentiment among technical analysts

( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBD grew ) ( NP-EXT ( DT an ) ( JJ estimated ) ( CD 2.5 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( NNS expectations ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP are ) ( ADVP ( RB increasingly ) ) ( VP ( VBG predicting ) ( NP ( NP ( ADJP ( ADVP ( RB much ) ( RBR more ) ) ( JJ sluggish ) ) ( NN growth ) ) ( PRN ( CC and ) ( ADVP ( RB therefore ) ) ( NP ( JJR more ) ( JJ corporate ) ( NNS earnings ) ( NNS disappointments ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) )

Although the government said the economy grew an estimated 2.5 % in the third quarter in line with expectations analysts are increasingly predicting much more sluggish growth and therefore more corporate earnings disappointments for the fourth quarter

( SINV ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( ADJP ( NP-ADV ( DT a ) ( RB lot ) ) ( JJR more ) ) ( JJ downward ) ( NNS revisions ) ) ( PP ( IN of ) ( NP ( NNS earnings ) ( NNS forecasts ) ) ) ( PP ( IN than ) ( NP ( JJ upward ) ( NNS revisions ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Abby ) ( NNP Joseph ) ( NNP Cohen ) ) ( NP ( NP ( DT a ) ( NN market ) ( NN strategist ) ) ( PP-LOC ( IN at ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ) ) ) ) )

There are a lot more downward revisions of earnings forecasts than upward revisions said Abby Joseph Cohen a market strategist at Drexel Burnham Lambert

( S ( NP-SBJ ( NNS People ) ) ( VP ( VBP are ) ( VP ( VBG questioning ) ( NP ( JJ corporate ) ( NNS profits ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN pillar ) ) ( PP ( IN of ) ( NP ( NN support ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN equity ) ( NN market ) ) ) ) ) ) ) )

People are questioning corporate profits as a pillar of support for the equity market

( S ( NP-SBJ ( DT The ) ( NN bond ) ( NN market ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unmoved ) ( PP ( IN by ) ( NP ( DT the ) ( JJ economic ) ( NNS statistics ) ) ) ) ) )

The bond market was unmoved by the economic statistics

( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NN bond ) ( NNS investors ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN preferred ) ( S ( NP-SBJ ( NN growth ) ) ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP-ADV ( DT a ) ( JJ little ) ) ( JJR slower ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBN cheered ) ( PP ( IN by ) ( NP-LGS ( NP ( NN inflation ) ( NNS measures ) ) ( PP ( IN in ) ( NP ( DT the ) ( NNS data ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD showed ) ( S ( NP-SBJ ( NNS prices ) ) ( VP ( VBG rising ) ( PP-MNR ( IN at ) ( NP ( NP ( DT a ) ( JJ modest ) ( JJ annual ) ( NN rate ) ) ( PP ( IN of ) ( NP ( CD 2.9 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

While bond investors would have preferred growth to be a little slower they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9 %

( S ( S-TPC-1 ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( NP-PRD ( DT another ) ( JJ small ) ( NN encouragement ) ( SBAR ( IN for ) ( S ( NP-SBJ ( DT the ) ( NNP Federal ) ( NNP Reserve ) ) ( VP ( TO to ) ( VP ( VB lower ) ( NP ( NN interest ) ( NNS rates ) ) ( PP-TMP ( IN in ) ( NP ( JJ coming ) ( NNS weeks ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD reasoned ) ) )

That is another small encouragement for the Federal Reserve to lower interest rates in coming weeks they reasoned

( PP-LOC-HLN ( IN In ) ( NP ( JJ major ) ( NN market ) ( NN activity ) ) )

In major market activity

( S ( NP-SBJ ( NNP Stock ) ( NNS prices ) ) ( VP ( VBD fell ) ( ADVP-MNR ( RB sharply ) ) ( PP-LOC ( IN in ) ( NP ( JJ active ) ( NN trading ) ) ) ) )

Stock prices fell sharply in active trading

( S ( NP-SBJ ( NP ( NN Volume ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 175.2 ) ( CD million ) ) ( NNS shares ) ) ) )

Volume on the New York Stock Exchange totaled 175.2 million shares

( S ( NP-SBJ ( NP ( VBG Declining ) ( NNS issues ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ) ( VP ( VBD outstripped ) ( NP ( NNS gainers ) ) ( NP-ADV ( NP ( CD 1,141 ) ) ( PP ( TO to ) ( NP ( CD 406 ) ) ) ) ) )

Declining issues on the Big Board outstripped gainers 1,141 to 406

( S ( NP-SBJ ( NN Bond ) ( NNS prices ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB barely ) ( JJR higher ) ) ) )

Bond prices were barely higher

( S ( NP-SBJ ( NP ( DT The ) ( NNP Treasury ) ( POS 's ) ) ( NN benchmark ) ( JJ 30-year ) ) ( VP ( VBD rose ) ( ADVP-EXT ( RB fractionally ) ) ) )

The Treasury 's benchmark 30-year rose fractionally

( S ( NP-SBJ ( NP ( NN Yield ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN issue ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 7.88 ) ( NN % ) ) ) )

Yield on the issue was 7.88 %

( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VBD rose ) ( ADVP-EXT ( RB modestly ) ) ( PP ( IN against ) ( NP ( JJS most ) ( JJ major ) ( NNS currencies ) ) ) ) )

The dollar rose modestly against most major currencies

( S ( PP-LOC ( IN In ) ( NP ( JJ late ) ( NNP New ) ( NNP York ) ( NN trading ) ) ) ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD was ) ( PP-PRD ( IN at ) ( NP ( NP ( CD 1.8400 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 142.10 ) ( NNS yen ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( CD 1.8353 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 141.52 ) ( NNS yen ) ) ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) )

In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday

( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VBD soared ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NN pound ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD was ) ( PP-PRD ( IN at ) ( NP ( CD 1.5765 ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 1.6145 ) ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) ) ) ) ) ) )

The dollar soared against the pound which was at 1.5765 compared with 1.6145 Wednesday

( S ( NP-SBJ-1 ( DT The ) ( NNP House ) ) ( VP ( VBD joined ) ( NP ( DT the ) ( NNP Senate ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NP ( JJ federal ) ( NNS reparations ) ) ( PP ( IN for ) ( NP ( NP ( NNPS Japanese-Americans ) ) ( VP ( VBN held ) ( PP-LOC ( IN in ) ( NP ( NNP World ) ( NNP War ) ( NNP II ) ( NN internment ) ( NNS camps ) ) ) ) ) ) ) ( NP-PRD ( NP ( DT a ) ( JJ legal ) ( NN entitlement ) ) ( VP ( VBG requiring ) ( S ( NP-SBJ ( DT the ) ( NNP Treasury ) ( NNP Department ) ) ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( JJ expedited ) ( NNS payments ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( JJ estimated ) ( QP ( CD 1.25 ) ( CD billion ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ next ) ( JJ several ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The House joined the Senate in making federal reparations for Japanese-Americans held in World War II internment camps a legal entitlement requiring the Treasury Department to meet expedited payments of an estimated 1.25 billion during the next several years

( S ( NP-SBJ ( DT The ) ( JJ 249-166 ) ( NN roll ) ( NN call ) ) ( VP ( VBD came ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN chamber ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( NN compromise ) ( NN bill ) ) ( VP ( VP ( VBG allocating ) ( NP ( QP ( CD 17.2 ) ( CD billion ) ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( NNS departments ) ) ( PP ( IN of ) ( NP ( NNP State ) ( NNP Justice ) ( CC and ) ( NNP Commerce ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ( CC and ) ( VP ( VBG imposing ) ( NP ( JJ increased ) ( NNS fees ) ) ( PP-CLR ( IN on ) ( NP ( NP ( NN business ) ( NNS interests ) ) ( VP ( VBG making ) ( NP ( NP ( NNS filings ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN government ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 249-166 roll call came as the chamber approved a compromise bill allocating 17.2 billion to the departments of State Justice and Commerce in fiscal 1990 and imposing increased fees on business interests making filings with the government

( S ( S ( NP-SBJ ( DT An ) ( JJ estimated ) ( QP ( CD 40 ) ( CD million ) ) ) ( VP ( MD would ) ( VP ( VB come ) ( ADVP-TMP ( RB annually ) ) ( PP-DIR ( IN from ) ( NP ( NP ( DT a ) ( JJ new ) ( ADJP ( CD 20,000 ) ) ( NN charge ) ) ( PP ( IN on ) ( NP ( NP ( JJ pre-merger ) ( NNS notifications ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Justice ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ( NN filing ) ( NNS fees ) ) ( VP ( MD would ) ( VP ( VB rise ) ( PP-EXT ( IN by ) ( NP ( CD 25 ) ( NN % ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB fund ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 26 ) ( CD million ) ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN agency ) ( POS 's ) ) ( NN budget ) ) ) ) ) ) ) ) ) ) )

An estimated 40 million would come annually from a new 20,000 charge on pre-merger notifications to the Justice Department and Securities and Exchange Commission filing fees would rise by 25 % to fund a 26 million increase in the agency 's budget

( S ( NP-SBJ ( NP ( NP ( NN Yesterday ) ( POS 's ) ) ( NN vote ) ) ( PP ( IN on ) ( NP ( JJ Japanese-American ) ( NNS reparations ) ) ) ) ( VP ( VBZ ensures ) ( NP ( NP ( JJ final ) ( NN enactment ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN entitlement ) ( NN provision ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBZ abandons ) ( NP ( JJR earlier ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( JJ offsetting ) ( NNS cuts ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ is ) ( VP ( VBN seen ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ realistic ) ) ( NN path ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG expediting ) ( NP ( NP ( NN compensation ) ) ( VP ( ADVP-TMP ( RB first ) ) ( VBN authorized ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yesterday 's vote on Japanese-American reparations ensures final enactment of the entitlement provision which abandons earlier efforts to find offsetting cuts but is seen as a more realistic path to expediting compensation first authorized in 1988

( SINV ( S-TPC-4 ( NP-SBJ ( NP ( DT The ) ( JJ only ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( DT the ) ( NNS costs ) ) ) ) ) ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB say ) ( SBAR ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( DT the ) ( NN bill ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Neal ) ( NNP Smith ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP Iowa ) ) ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBD taunted ) ( S ( NP-SBJ ( NP ( NNP President ) ( NNP Bush ) ( POS 's ) ) ( NN party ) ) ( VP ( TO to ) ( VP ( VB back ) ( PRT ( RP up ) ) ( NP ( NP ( PRP$ his ) ( NN campaign ) ( NN promise ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG supporting ) ( NP ( NP ( DT the ) ( NNS claims ) ) ( PP ( IN of ) ( NP ( NP ( CD 20,000 ) ) ( PP ( IN per ) ( NP ( NN individual ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The only way to reduce the costs is to say we do n't want to pay the bill said Rep. Neal Smith D. Iowa who taunted President Bush 's party to back up his campaign promise of supporting the claims of 20,000 per individual

( SINV ( S-TPC-1 ( VP ( VB Read ) ( NP ( PRP$ my ) ( NNS lips ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Smith ) ) )

Read my lips said Mr. Smith

( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( PP-PRD ( IN for ) ( S-NOM ( VP ( VBG paying ) ( NP ( DT the ) ( NNS claims ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHADVP-1 ( WRB how ) ) ( S ( NP-SBJ ( NN anyone ) ) ( VP ( MD can ) ( VP ( VB oppose ) ( NP ( DT this ) ) ) ) ) ) ) ) )

If you 're for paying the claims I do n't know how anyone can oppose this

( S ( S ( NP-SBJ-1 ( DT No ) ( NNS payments ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN made ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ( CC but ) ( S ( S-TMP ( VP ( VBG beginning ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1991 ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN bill ) ) ( VP ( VBZ commits ) ( NP ( DT the ) ( NN government ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ annual ) ( NNS payments ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 500 ) ( CD million ) ) ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( JJ total ) ( NN liability ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.25 ) ( CD billion ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN met ) ) ) ) ) ) ) )

No payments would be made this year but beginning in fiscal 1991 the bill commits the government to annual payments of as much as 500 million until the total liability of 1.25 billion is met

( S ( NP-SBJ ( DT The ) ( NN issue ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN assumed ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN character ) ) ( PP ( IN of ) ( NP ( JJ past ) ( NNS civil-rights ) ( NNS debates ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ reopens ) ( NP ( NP ( JJ old ) ( JJ regional ) ( NNS divisions ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Democratic ) ( NN majority ) ) ) ) ) ) )

The issue has assumed some of the character of past civil-rights debates and reopens old regional divisions in the Democratic majority

( S ( ADVP ( ADVP ( RB As ) ( RB much ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( NNPS Republicans ) ) ( VP ( VBD led ) ( NP ( DT the ) ( NN opposition ) ) ) ) ) ) ( PP-TPC-1 ( IN among ) ( NP ( NP ( DT the ) ( CD 53 ) ( NNPS Democrats ) ) ( VP ( VBG voting ) ( PP-CLR ( IN against ) ( S-NOM ( VP ( VBG treating ) ( NP ( DT the ) ( NNS payments ) ) ( PP-CLR ( IN as ) ( NP ( DT an ) ( NN entitlement ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( CD 42 ) ) ) ( VP ( VBD came ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( CD 13 ) ( NNS states ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP Old ) ( NNP Dixiecrat ) ( NNP South ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS borders ) ) ) ) ) ) ) )

As much as Republicans led the opposition among the 53 Democrats voting against treating the payments as an entitlement 42 came from the 13 states in the Old Dixiecrat South and its borders

( S ( S ( NP-SBJ ( NP ( DT The ) ( JJ odd ) ( NN mix ) ) ( PP ( IN of ) ( NP ( NNS departments ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ underlying ) ( NN bill ) ) ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBR more ) ( JJ eclectic ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ annual ) ( NNS appropriations ) ( NNS measures ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN lightning ) ( NN rod ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ running ) ( NN battle ) ) ( PP ( IN over ) ( NP ( NP ( DT the ) ( NN fate ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Legal ) ( NNP Services ) ( NNP Corp ) ) ) ) ) ) ) ) ) ) )

The odd mix of departments in the underlying bill makes it one of the more eclectic of the annual appropriations measures and it is a lightning rod for a running battle over the fate of the Legal Services Corp

( S ( NP-SBJ ( DT The ) ( NN measure ) ) ( VP ( VP ( VBZ provides ) ( NP ( NP ( QP ( CD 321 ) ( CD million ) ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB maintain ) ( NP ( NNS services ) ) ) ) ) ) ) ) ( CC but ) ( VP ( MD would ) ( ADVP-MNR ( RB sharply ) ) ( VP ( VB curb ) ( NP ( NP ( DT the ) ( NN power ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ current ) ( NN board ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( NNS successors ) ) ( VP ( VBP are ) ( VP ( VBN agreed ) ( PP-CLR ( TO to ) ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Bush ) ( NN administration ) ) ) ) ) ) ) ) ) ) )

The measure provides 321 million to maintain services but would sharply curb the power of the current board until successors are agreed to by the Bush administration

( S ( NP-SBJ ( NP ( DT The ) ( JJ conservative ) ( NN bent ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ incumbent ) ( NNS appointees ) ) ( VP ( VBN named ) ( PP ( IN by ) ( NP-LGS ( JJ former ) ( NNP President ) ( NNP Reagan ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN divided ) ( NP ( NNPS Republicans ) ) ) ) )

The conservative bent of the incumbent appointees named by former President Reagan has divided Republicans

( S ( CC And ) ( PP ( IN on ) ( NP ( JJ back-to-back ) ( NN roll ) ( NNS calls ) ) ) ( ADVP ( JJ 206-199 ) ( CC and ) ( JJ 223-178 ) ) ( NP-SBJ ( DT the ) ( NNP Appropriations ) ( NNP Committee ) ( NN leadership ) ) ( VP ( VBD turned ) ( ADVP-DIR ( RP back ) ) ( NP ( NP ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB weaken ) ( CC or ) ( VB strip ) ( NP ( DT the ) ( JJ proposed ) ( NNS restrictions ) ) ) ) ) ) ( VP ( ADVP-TMP ( RB first ) ) ( VBN added ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Sen. ) ( NNP Warren ) ( NNP Rudman ) ) ( PRN ( NP ( NP ( NNP R. ) ) ( NP-LOC ( NNP N.H. ) ) ) ) ) ) ) ) ) )

And on back-to-back roll calls 206-199 and 223-178 the Appropriations Committee leadership turned back efforts to weaken or strip the proposed restrictions first added by Sen. Warren Rudman R. N.H.

( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ estimated ) ( QP ( CD 40 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ new ) ( JJ pre-merger ) ( NN notification ) ( NN fee ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN divided ) ( PP-CLR ( IN between ) ( NP ( NP ( NP ( NP ( DT the ) ( NNP Justice ) ( NNP Department ) ( POS 's ) ) ( NNP Antitrust ) ( NNP Division ) ) ( CC and ) ( NP ( DT the ) ( NNP Federal ) ( NNP Trade ) ( NNP Commission ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( DT both ) ( VP ( VBP face ) ( NP ( JJ serious ) ( NNS cuts ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN income ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN realized ) ) ) ) ) ) ) ) ) ) ) ) ) )

The estimated 40 million from the new pre-merger notification fee would be divided between the Justice Department 's Antitrust Division and the Federal Trade Commission which both face serious cuts if the income is n't realized

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The Federal Bureau of Investigation is slated to receive 30 million by charging for fingerprint services in civil cases and the judiciary will rely on another 32 million from bankruptcy charges including a 33 % increase in the current filing fee

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The 17.2 billion total for the bill does n't include an estimated 1.2 billion in supplemental anti-drug funds approved by the House-Senate conference yesterday and the rush of money is already provoking jealousy among states competing for assistance

( S ( S ( NP-SBJ-1 ( DT The ) ( NNP House ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB defer ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ( NP ( NP ( DT a ) ( JJ scheduled ) ( ADJP ( CD 50 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJ required ) ( NN state ) ( JJ matching ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( NN law-enforcement ) ( NNS grants ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( PP ( IN by ) ( NP ( DT a ) ( JJ 287-123 ) ( NN margin ) ) ) ( NP-SBJ ( DT the ) ( NN chamber ) ) ( VP ( VBD stripped ) ( NP ( DT a ) ( NNP Senate ) ( NN initiative ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( DT the ) ( JJ minimum ) ( NN grant ) ) ( PP ( IN for ) ( NP ( NP ( JJR smaller ) ( NNS states ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP New ) ( NNP Hampshire ) ) ( CC and ) ( NP ( NNP Delaware ) ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.6 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 500,000 ) ) ) ) ) ) ) ) ) )

The House agreed to defer for a year a scheduled 50 % increase in the required state matching funds for law-enforcement grants but by a 287-123 margin the chamber stripped a Senate initiative to raise the minimum grant for smaller states such as New Hampshire and Delaware to 1.6 million from 500,000

( S ( NP-SBJ ( JJ Few ) ) ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ powerful ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN competition ) ) ( PP ( IN for ) ( NP ( NNS funds ) ) ) ) ) ( PP-1 ( IN than ) ( NP ( NP ( DT the ) ( NNS appropriations ) ( VBZ committees ) ) ( NP ( PRP themselves ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( CD three ) ( NNS authors ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Gramm-Rudman-Hollings ) ( JJ deficit-reduction ) ( NN law ) ) ) ) ) ) ) ) )

Few are more powerful in the competition for funds than the appropriations committees themselves including the three authors of the Gramm-Rudman-Hollings deficit-reduction law

( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( NP ( DT a ) ( NNP House-Senate ) ( NN conference ) ) ( PP ( IN on ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN bill ) ) ) ) ( VP ( VBD rescinded ) ( NP ( NP ( QP ( CD 11.8 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ unexpended ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NAC-LOC ( NNP Fort ) ( NNP Worth ) ( NNP Texas ) ) ( JJ economic ) ( NN development ) ( NN project ) ) ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( JJ former ) ( NNP Speaker ) ( NNP James ) ( NNP Wright ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Sen. ) ( NNP Phil ) ( NNP Gramm ) ) ( PRN ( NP ( NP ( NNP R. ) ) ( NP-LOC ( NNP Texas ) ) ) ) ) ( VP ( VBD insisted ) ( NP-TMP ( JJ last ) ( NN week ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( NN money ) ) ( VP ( VB be ) ( VP ( VBN preserved ) ) ) ) ) ) )

When a House-Senate conference on yesterday 's bill rescinded 11.8 million in unexpended funds for a Fort Worth Texas economic development project backed by former Speaker James Wright Sen. Phil Gramm R. Texas insisted last week that the money be preserved

( S ( S ( NP-SBJ ( DT The ) ( NN measure ) ) ( VP ( VBZ includes ) ( NP ( NP ( QP ( CD 2 ) ( CD million ) ) ) ( VP ( VBN secured ) ( PP ( IN by ) ( NP-LGS ( NNP Mr. ) ( NNP Rudman ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NN marine-research ) ( NN project ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP New ) ( NNP Hampshire ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( NNP Sen. ) ( NNP Ernest ) ( NNP Hollings ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP S.C ) ) ) ) ) ( VP ( VBD used ) ( NP ( PRP$ his ) ( NN power ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB add ) ( NP ( NP ( QP ( CD 10 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( JJ advanced ) ( NN technology ) ( NN initiative ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Commerce ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ) )

The measure includes 2 million secured by Mr. Rudman for a marine-research project at the University of New Hampshire and Sen. Ernest Hollings D. S.C used his power to add 10 million for an advanced technology initiative in the Commerce Department

( S ( NP-SBJ ( DT This ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ parochial ) ) ( ADJP ( QP ( CD 4.5 ) ( CD million ) ) ) ( NN authorization ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN health ) ( NN center ) ) ( PP-LOC ( IN in ) ( NP ( NNP South ) ( NNP Carolina ) ) ) ( VP ( VBN upheld ) ( PP ( IN by ) ( NP ( DT a ) ( JJ 273-121 ) ( NN vote ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP House ) ) ) ( NP-TMP ( JJ last ) ( NN night ) ) ) ) ) ) ) ) ) ) )

This was in addition to a more parochial 4.5 million authorization for a health center in South Carolina upheld by a 273-121 vote in the House last night

( S ( NP-SBJ-1 ( NP ( NNP F. ) ( NNP Gil ) ( NNP Troutman ) ) ( ADJP ( NP-ADV ( CD 46 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ) ) )

F. Gil Troutman 46 years old was named chief executive officer

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He retains his titles of president and chief operating officer and succeeds as chief executive Howard O. Painter Jr. who remains chairman of the board

( S ( NP-SBJ ( NNP DSP ) ) ( VP ( VBZ makes ) ( NP ( NP ( JJ electronic ) ( NN instrumentation ) ) ( CC and ) ( NP ( NN data ) ( NN acquisition ) ( NNS systems ) ) ) ) )

DSP makes electronic instrumentation and data acquisition systems

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The Big Three U.S. auto makers posted losses in their core North American automotive businesses for the third quarter and expectations of continued slow vehicle sales and price wars are casting a pall over the fourth period

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The strongest sign of the Big Three 's woes came from Ford Motor Co. which said it had a loss in its U.S. automotive business for the first time since 1982

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Ford predicted fourth-quarter net income will fall below the year-earlier level partly because of a likely 500 million charge from the sale of its steel operations

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The bleak automotive results were offset by strong earnings from some non-automotive operations

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Still the combined profit of Ford Chrysler Corp. and General Motors Corp. fell 44 % to 1.02 billion from 1.83 billion a year earlier excluding a one-time gain of 309 million at Chrysler from the sale of Mitsubishi Motors Corp. stock

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The last time all three companies reported North American automotive losses was in the recession year of 1982

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Yesterday 's announcements helped spark a midday wave of program selling in the stock market

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GM 's common closed at 44.375 a share down 50 cents Ford fell 37.5 cents to end at 47.50 and Chrysler eased 37.5 cents to 22.25 all in New York Stock Exchange composite trading

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The market 's pessimism reflects the gloomy outlook in Detroit

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As Japanese auto makers gained market share the Big Three with GM in the lead slashed North American production and launched a retail discounting blitz

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The price war peaked in the third quarter as Big Three factory discounts climbed to more than 1,000 a vehicle according to industry officials

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GM probably had the heaviest incentives said Robert S. Miller Chrysler 's chief financial officer

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We all did what we had to do to stay within sight of them

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But the costly efforts did little to slow Japanese market gains and domestic car sales have plunged 19 % since the Big Three ended many of their programs Sept. 30

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GM Ford and Chrysler have already cut fourth-quarter U.S. output plans an estimated 15 % from 1988 levels

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If sales do n't pick up the cuts will go deeper and incentives will sprout again

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Ford which has long boasted of its ability to weather a downturn saw earnings take a beating

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The No. 2 auto maker blamed incentive costs and reduced production both the result of a substantially weaker U.S. market for a 44 % drop in net to 477.1 million or 1.03 a share on revenue of 20.24 billion

( S ( NP-SBJ ( RB Nearly ) ( PDT all ) ( DT the ) ( NN decline ) ) ( VP ( VBD came ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Ford ) ( POS 's ) ) ( NNP U.S. ) ( JJ automotive ) ( NNS operations ) ) ) ) )

Nearly all the decline came in Ford 's U.S. automotive operations

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The Dearborn Mich. auto maker ran a loss of 37 million on assembling and marketing cars in the U.S. a deterioration of 378 million in that line from the 1988 quarter

( S ( NP-SBJ-1 ( NNP Ford ) ) ( VP ( VBD managed ) ( S ( VP ( TO to ) ( VP ( VB show ) ( NP ( NP ( DT a ) ( NN profit ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ) ) ) ( PP-PRP ( ADVP ( RB primarily ) ) ( IN because ) ( IN of ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN from ) ( NP ( NP ( JJ overseas ) ( NN auto ) ( NNS operations ) ) ( CC and ) ( NP ( JJ financial ) ( NNS services ) ) ) ) ) ) ) )

Ford managed to show a profit for the quarter primarily because of earnings from overseas auto operations and financial services

( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ record ) ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 856.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.78 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 20.38 ) ( CD billion ) ) ) ) ) ) ) ) )

A year earlier Ford reported record net of 856.3 million or 1.78 a share on revenue of 20.38 billion

( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJS latest ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD earned ) ( NP ( NP ( QP ( CD 3.52 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 7.51 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 4.14 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 8.53 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the latest nine months Ford earned 3.52 billion or 7.51 a share compared with 4.14 billion or 8.53 a share

( S ( NP-SBJ ( DT The ) ( NNP U.S. ) ( JJ automotive ) ( NN loss ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ sharp ) ( NN reversal ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN company ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD had ) ( VP ( VBN reeled ) ( PRT ( RP off ) ) ( NP ( NP ( CD 12 ) ( JJ consecutive ) ( NNS quarters ) ) ( PP ( IN of ) ( NP ( JJ improved ) ( NNS earnings ) ) ) ) ( PP-TMP ( IN until ) ( NP ( DT the ) ( CD 1989 ) ( JJ second ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) )

The U.S. automotive loss was a sharp reversal for a company that had reeled off 12 consecutive quarters of improved earnings until the 1989 second quarter

( S ( CC But ) ( NP-SBJ ( NP ( NNP David ) ( NNP N. ) ( NNP McCammon ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( NN finance ) ) ) ) ( VP ( VBD insisted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN cost-cutting ) ) ( CC and ) ( NP ( JJ tight ) ( NN production ) ( NN capacity ) ) ) ( VP ( MD will ) ( VP ( VB make ) ( S ( NP-SBJ ( NNS results ) ) ( ADJP-PRD ( ADJP ( JJR better ) ) ) ( PP-TMP ( IN in ) ( NP ( DT this ) ( NN downturn ) ) ) ( PP-1 ( IN than ) ( PP-TMP ( IN in ) ( NP ( NP ( JJ prior ) ( NNS downturns ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD had ) ( NP ( JJ net ) ( NNS losses ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But David N. McCammon vice president finance insisted that cost-cutting and tight production capacity will make results better in this downturn than in prior downturns when Ford had net losses

( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NNP Mr. ) ( NNP McCammon ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Ford ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN economy ) ) ( VP ( TO to ) ( VP ( VB weaken ) ( PP-TMP ( IN through ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ( S-ADV ( VP ( VBG causing ) ( NP ( JJR weaker ) ( NNS sales ) ( CC and ) ( NN production ) ) ) ) ) ) ) ) ) ) ) )

Still Mr. McCammon said Ford expects the U.S. economy to weaken through the end of 1990 causing weaker sales and production

( S ( S-TPC-1 ( PP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-SBJ ( JJ fourth-quarter ) ( NN profit ) ) ( VP ( MD will ) ( VP ( VB come ) ( PRT ( RP in ) ) ( PP-LOC-CLR ( IN below ) ( NP ( CD 1988 ) ( NNS results ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( DT the ) ( NN drop ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ sharp ) ) ( PP ( IN as ) ( NP ( DT the ) ( ADJP ( CD 44 ) ( NN % ) ) ( JJ third-quarter ) ( NN decline ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

As a result fourth-quarter profit will come in below 1988 results although the drop wo n't be as sharp as the 44 % third-quarter decline he said

( S ( NP-SBJ ( NP ( NN Part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN drop ) ) ) ) ( VP ( MD will ) ( VP ( VB come ) ( PP-DIR ( IN from ) ( NP ( NP ( DT an ) ( JJ anticipated ) ( NN charge ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 500 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( JJ proposed ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP Rouge ) ( NNP Steel ) ( NN unit ) ) ) ) ) ) ) ) ) )

Part of the drop will come from an anticipated charge of as much as 500 million from the proposed sale of its Rouge Steel unit

( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD 1988 ) ( JJ fourth ) ( NN quarter ) ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD had ) ( NP ( NP ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 1.16 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 2.42 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the 1988 fourth quarter Ford had net of 1.16 billion or 2.42 a share

( S ( NP-SBJ ( NP ( NNP Chrysler ) ( POS 's ) ) ( NN operating ) ( NN profit ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( DT a ) ( JJ scant ) ( QP ( CD 22 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 10 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NP ( NP ( PRP$ its ) ( JJS lowest ) ( JJ quarterly ) ( NN total ) ) ( PP-TMP ( IN in ) ( NP ( CD seven ) ( NNS years ) ) ) ) ) ) ) )

Chrysler 's operating profit fell to a scant 22 million or 10 cents a share its lowest quarterly total in seven years

( S ( NP-SBJ ( NP ( PRP$ Its ) ( ADJP ( ADJP ( QP ( CD 309 ) ( CD million ) ) ) ( CC or ) ( ADJP ( ADJP ( CD 1.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NN gain ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( QP ( CD 75 ) ( CD million ) ) ( NNP Mitsubishi ) ( NNS shares ) ) ) ) ) ) ( VP ( VBD made ) ( NP ( NP ( JJ net ) ( QP ( CD 331 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.42 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

Its 309 million or 1.32 a share gain from the sale of 75 million Mitsubishi shares made net 331 million or 1.42 a share

( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ flat ) ) ( PP-LOC ( IN at ) ( NP ( QP ( CD 7.88 ) ( CD billion ) ) ) ) ) )

Sales were flat at 7.88 billion

( S ( NP-SBJ ( DT The ) ( NNS results ) ) ( VP ( VBP include ) ( NP ( NP ( JJ record ) ( JJ quarterly ) ( NNS earnings ) ) ( PP ( IN of ) ( NP ( QP ( CD 76 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NNP Chrysler ) ( NNP Financial ) ( NNP Corp ) ) ) ) ) )

The results include record quarterly earnings of 76 million from Chrysler Financial Corp

( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( NP ( NNP Chrysler ) ( POS 's ) ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 113 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 50 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

A year earlier Chrysler 's net was 113 million or 50 cents a share

( S ( NP-SBJ ( NNP Mr. ) ( NNP Miller ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS costs ) ) ( PP ( IN of ) ( NP ( NNS incentives ) ) ) ) ( VP ( VBD caused ) ( NP ( NP ( DT a ) ( JJ moderate ) ( NN loss ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NAC-LOC ( NNP Highland ) ( NNP Park ) ( NNP Mich. ) ) ( NN company ) ( POS 's ) ) ( ADJP ( JJ North ) ( JJ American ) ) ( NN car ) ( CC and ) ( NN truck ) ( NN business ) ) ) ) ) ) ) ) )

Mr. Miller said costs of incentives caused a moderate loss in the Highland Park Mich. company 's North American car and truck business

( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN loss ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( ADVP ( RB that ) ( RB much ) ) ( JJ different ) ( PP ( IN from ) ( NP ( NP ( NP ( NNP Ford ) ( POS 's ) ) ( ADJP ( QP ( CD 37 ) ( CD million ) ) ) ( NN loss ) ) ( PP ( IN on ) ( NP ( NNP U.S. ) ( JJ automotive ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ specific ) ) ) ) ) ) ) )

He said the loss was n't that much different from Ford 's 37 million loss on U.S. automotive operations but he declined to be specific

( S ( NP-SBJ ( NNP Mr. ) ( NNP Miller ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( VBD spent ) ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN of ) ( NP ( CD 1,000 ) ) ) ( NP-ADV ( DT a ) ( NN vehicle ) ) ) ( PP-CLR ( IN on ) ( NP ( PRP$ its ) ( NN incentive ) ( NNS programs ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( NP ( QP ( RB about ) ( CD 450 ) ) ) ( NP-ADV ( DT a ) ( NN vehicle ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ( NP ( NP ( DT a ) ( JJ high-water ) ( NN mark ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( NN time ) ) ) ) ) ) ) ) ) ) ) )

Mr. Miller said Chrysler spent an average of 1,000 a vehicle on its incentive programs in the third quarter compared with about 450 a vehicle a year earlier a high-water mark at the time

( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( VBZ is ) ( ADVP-TMP ( DT no ) ( RBR longer ) ) ( ADJP-PRD ( JJ sure ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NN forecast ) ) ( PP ( IN for ) ( NP ( NP ( NN industry ) ( NN car ) ( CC and ) ( NN truck ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 14.2 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1990 ) ( NN model ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) )

He said Chrysler is no longer sure of its forecast for industry car and truck sales of 14.2 million in the 1990 model year

( S-1 ( NP-SBJ-2 ( NNS Consumers ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( VP ( VBP are ) ( VP ( VBG balking ) ( PP-CLR ( IN at ) ( NP ( NP ( JJR higher ) ( NNS prices ) ) ( PP ( IN on ) ( NP ( CD 1990 ) ( NNS cars ) ) ) ) ) ( PP-TMP ( ADVP ( RB especially ) ) ( IN after ) ( S-NOM ( VP ( VBG seeing ) ( NP ( NP ( DT the ) ( JJ incentive-reduced ) ( NNS prices ) ) ( PP ( IN on ) ( NP ( CD 1989 ) ( NNS models ) ) ) ) ) ) ) ) ) )

Consumers he said are balking at higher prices on 1990 cars especially after seeing the incentive-reduced prices on 1989 models

( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 1.02 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 4.38 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( NN gain ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Mitsubishi ) ( NN stock ) ( NN sale ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 617 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.77 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN after ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 93 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 42 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NN plant ) ( NNS closings ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( NN period ) ) ) ) ) ) ) ) )

In the nine months net was 1.02 billion or 4.38 a share including the gain from the Mitsubishi stock sale compared with 617 million or 2.77 a share after a charge of 93 million or 42 cents a share for plant closings in the 1988 period

( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8.4 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 27.95 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 25.78 ) ( CD billion ) ) ) ) ) )

Sales rose 8.4 % to 27.95 billion from 25.78 billion

( S ( NP-SBJ ( NP ( JJ Heavy ) ( NNS losses ) ) ( PP-LOC ( IN in ) ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( NN auto ) ( NNS operations ) ) ) ) ( VP ( VBD sent ) ( S ( NP-SBJ ( NP ( NNP GM ) ( POS 's ) ) ( NN net ) ) ( VP ( VBG tumbling ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 516.9 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( DT a ) ( NN record ) ( QP ( CD 859.2 ) ( CD million ) ) ) ) ) ) ) )

Heavy losses in North American auto operations sent GM 's net tumbling to 516.9 million from a record 859.2 million

( S ( NP-SBJ ( JJ Detroit-based ) ( NNP GM ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB issue ) ( NP ( NP ( JJ separate ) ( JJ quarterly ) ( NNS earnings ) ) ( PP ( IN for ) ( NP ( DT the ) ( ADJP ( JJ North ) ( JJ American ) ) ( JJ automotive ) ( NN business ) ) ) ) ) ) )

Detroit-based GM does n't issue separate quarterly earnings for the North American automotive business

( S ( CC But ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD estimated ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 300 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( JJ domestic ) ( NN vehicle ) ( NNS operations ) ) ) ) ) ) ) ) )

But analysts estimated that GM had a loss of as much as 300 million on domestic vehicle operations

( S ( S-TPC-1 ( S ( NP-SBJ ( NP ( DT An ) ( ADJP ( CD 8.5 ) ( NN % ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( NN factory ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NNS cars ) ( CC and ) ( NNS trucks ) ) ) ) ) ) ( VP ( VBD cut ) ( PP-CLR ( IN into ) ( NP ( NN revenue ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NNS rebates ) ) ( PP ( TO to ) ( NP ( NNS dealers ) ( CC and ) ( NNS customers ) ) ) ) ( ADVP ( RBR more ) ( IN than ) ) ( VP ( VBP offset ) ( NP ( NP ( NNS gains ) ) ( PP ( IN from ) ( NP ( NP ( NN price ) ( NNS increases ) ) ( PP ( IN on ) ( NP ( NP ( CD 1990 ) ( NN model ) ( NNS vehicles ) ) ( VP ( VBN delivered ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN period ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP GM ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

An 8.5 % drop in North American factory sales of cars and trucks cut into revenue and rebates to dealers and customers more than offset gains from price increases on 1990 model vehicles delivered during the period a GM spokesman said

( S ( CC But ) ( NP-SBJ ( NP ( NNP GM ) ( POS 's ) ) ( NNS results ) ) ( ADVP ( RB also ) ) ( VP ( VBP illustrate ) ( NP ( NP ( DT the ) ( VBG increasing ) ( NN diversity ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS operations ) ) ) ) ) )

But GM 's results also illustrate the increasing diversity of its operations

( S ( PP-LOC ( IN In ) ( NP ( CD one ) ( NN breakdown ) ) ) ( NP-SBJ ( NNP GM ) ) ( VP ( VBD attributed ) ( NP ( NP ( NN half ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN net ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ its ) ( CD two ) ( JJ big ) ( NN technology ) ( NNS units ) ) ( NP ( NP ( NNP Electronic ) ( NNP Data ) ( NNP Systems ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP GM ) ( NNP Hughes ) ( NNP Electronics ) ( NNP Corp ) ) ) ) ) ) )

In one breakdown GM attributed half of its net to its two big technology units Electronic Data Systems Corp. and GM Hughes Electronics Corp

( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( NNP GM ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ overseas ) ( NN auto ) ( NNS operations ) ) ( VP ( VBP are ) ( PP-PRD ( IN on ) ( NP ( NP ( NN track ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB exceed ) ( NP ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( JJ record ) ( JJ full-year ) ( NN net ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.7 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Meanwhile GM said overseas auto operations are on track to exceed last year 's record full-year net of 2.7 billion

( S ( NP-SBJ ( DT The ) ( JJ diversified ) ( NNS operations ) ) ( VP ( VBD helped ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( VP ( VB build ) ( NP ( NP ( PRP$ its ) ( NN cash ) ( NNS reserves ) ) ( ADJP ( JJ exclusive ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ financial ) ( NN subsidiary ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 5.5 ) ( CD billion ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 22 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

The diversified operations helped GM build its cash reserves exclusive of its financial subsidiary to 5.5 billion as of Sept. 30 a 22 % increase from a year earlier