( S ( NP-SBJ ( DT The ) ( ADJP ( RB closely ) ( VBN held ) ) ( NNP Hertz ) ( NNP Corp. ) ) ( VP ( VBD had ) ( NP ( NP ( JJ annual ) ( NN revenue ) ) ( PP ( IN of ) ( ADJP ( JJ close ) ( PP ( TO to ) ( NP ( NP ( QP ( CD 2 ) ( CD billion ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) ( SBAR ( WHPP-2 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-1 ( NP ( QP ( CD 1.7 ) ( CD billion ) ) ) ) ( VP ( VBD was ) ( VP ( VBN contributed ) ( PP ( IN by ) ( NP-LGS ( PRP$ its ) ( NNP Hertz ) ( S-TTL ( VP ( NNP Rent ) ( NP ( DT A ) ( NNP Car ) ) ) ) ( NNS operations ) ( JJ world-wide ) ) ) ) ) ) ) ) ) )

The closely held Hertz Corp. had annual revenue of close to 2 billion in 1988 of which 1.7 billion was contributed by its Hertz Rent A Car operations world-wide


( S ( NP-SBJ ( NNP Hertz ) ( NNP Equipment ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ major ) ( NN supplier ) ) ( PP ( IN of ) ( NP ( JJ rental ) ( NN equipment ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( NP ( NNP France ) ) ( NP ( NNP Spain ) ) ( CC and ) ( NP ( DT the ) ( NNP U.K ) ) ) ) ) )

Hertz Equipment is a major supplier of rental equipment in the U.S. France Spain and the U.K


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ supplies ) ( NP ( NP ( ADJP ( JJ commercial ) ( CC and ) ( JJ industrial ) ) ( NN equipment ) ) ( PP ( VBG including ) ( NP ( NP ( UCP ( JJ earth-moving ) ( JJ aerial ) ( NN compaction ) ( CC and ) ( JJ electrical ) ) ( NN equipment ) ) ( NP ( NNS compressors ) ) ( NP ( NNS cranes ) ) ( NP ( NNS forklifts ) ) ( CC and ) ( NP ( NNS trucks ) ) ) ) ) ) )

It supplies commercial and industrial equipment including earth-moving aerial compaction and electrical equipment compressors cranes forklifts and trucks


( S ( NP-SBJ ( NP ( NNP West ) ( NNP Germany ) ( POS 's ) ) ( NNP Green ) ( NNP Party ) ) ( VP ( VBD joined ) ( NP ( NP ( PRP$ its ) ( JJ ideological ) ( NNS soulmates ) ) ( NP ( NP ( NNP Jeremy ) ( NNP Rifkin ) ) ( CC and ) ( NP ( DT the ) ( NNP Christic ) ( NNP Institute ) ) ) ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ legal ) ( NN battle ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB ground ) ( NP ( NP ( DT the ) ( NNP Atlantis ) ( NN shuttle ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( JJ plutonium-powered ) ( NNP Galileo ) ( NN probe ) ) ( PP ( TO to ) ( NP ( NNP Jupiter ) ) ) ) ) ) ) ) ) ) ) ) )

West Germany 's Green Party joined its ideological soulmates Jeremy Rifkin and the Christic Institute in the legal battle to ground the Atlantis shuttle and its plutonium-powered Galileo probe to Jupiter


( S ( NP-SBJ ( DT The ) ( JJ anti-defense ) ( NNS Greens ) ) ( VP ( VBD wanted ) ( S ( NP-SBJ ( DT a ) ( NNP Washington ) ( JJ federal ) ( NNS appeals ) ( NN court ) ) ( VP ( TO to ) ( VP ( VB block ) ( NP ( NP ( NN today ) ( POS 's ) ) ( VBN scheduled ) ( NN liftoff ) ) ( ADVP-TMP ( ADVP ( RB long ) ( RB enough ) ) ( SBAR ( IN for ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB ask ) ( NP-1 ( DT the ) ( NNP World ) ( NNP Court ) ) ( S ( VP ( TO to ) ( VP ( VB order ) ( NP ( NP ( DT a ) ( JJ permanent ) ( NN cancellation ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( QP ( CD 1.5 ) ( CD billion ) ) ) ( NN flight ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The anti-defense Greens wanted a Washington federal appeals court to block today 's scheduled liftoff long enough for them to ask the World Court to order a permanent cancellation of the 1.5 billion flight


( S ( NP-SBJ-1 ( DT A ) ( JJ three-judge ) ( NNS appeals ) ( NN panel ) ) ( NP-TMP ( NN yesterday ) ) ( VP ( VBD refused ) ( S ( VP ( TO to ) ( VP ( VB comply ) ) ) ) ( SBAR-ADV ( IN though ) ( S ( NP-SBJ-2 ( JJ liberal ) ( NNP Judge ) ( NNP Pat ) ( NNP Wald ) ) ( VP ( VBD went ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( PRP$ her ) ( NN way ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB deny ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ frivolous ) ( NN case ) ) ) ) ) ) ) ) ) ) ) ) )

A three-judge appeals panel yesterday refused to comply though liberal Judge Pat Wald went out of her way to deny that this was a frivolous case


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ) )

Of course it was


( S ( NP-SBJ ( NNP NASA ) ) ( VP ( MD should ) ( ADVP-TMP ( RB now ) ) ( VP ( VB sue ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS fines ) ) ( PP ( IN against ) ( NP ( NP ( DT all ) ( CD three ) ( NNS politico-plaintiffs ) ) ( ADJP ( JJ foreign ) ( CC and ) ( JJ domestic ) ) ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG bringing ) ( NP ( DT this ) ( JJ mischievous ) ( NN case ) ) ) ) ) ) ) ) ) )

NASA should now sue for fines against all three politico-plaintiffs foreign and domestic for bringing this mischievous case


( S ( NP-SBJ-2 ( NNP NCR ) ( NNP Corp. ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 10 ) ( NN % ) ) ( NN drop ) ) ( PP ( IN in ) ( NP ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( JJ intense ) ( NN competition ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD caused ) ( S ( NP-SBJ ( PRP$ its ) ( JJ gross ) ( NN profit ) ( NNS margins ) ) ( VP ( TO to ) ( VP ( VB dip ) ) ) ) ) ) ) ) ) ) ) )

NCR Corp. reported a 10 % drop in third-quarter net income citing intense competition that caused its gross profit margins to dip


( S ( NP-SBJ ( NP ( JJ Net ) ( NN income ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 93.1 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 103.1 ) ( CD million ) ) ) ) ( SBAR-ADV ( WHNP-1 ( RB roughly ) ( WP what ) ) ( S ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD had ) ( VP ( VBN expected ) ) ) ) ) ) )

Net income for the quarter fell to 93.1 million from 103.1 million roughly what analysts had expected


( S ( CC But ) ( NP-SBJ ( JJ per-share ) ( NN profit ) ) ( VP ( VBD dropped ) ( NP-EXT ( QP ( RB only ) ( CD 2 ) ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 1.23 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( CD 1.26 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD continued ) ( NP ( PRP$ its ) ( NN stock ) ( JJ buy-back ) ( NN plan ) ) ) ) ) ) )

But per-share profit dropped only 2 % to 1.23 a share from 1.26 a share as the company continued its stock buy-back plan


( S ( NP-SBJ ( NP ( JJ Average ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ( VP ( VBD dropped ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 75.8 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 82.1 ) ( CD million ) ) ) ) ) )

Average shares outstanding dropped to 75.8 million from 82.1 million


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 1 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.39 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.41 ) ( CD billion ) ) ) ) ) )

Revenue fell 1 % to 1.39 billion from 1.41 billion


( S ( NP-SBJ ( NP ( DT The ) ( NN computer ) ( NN maker ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ sells ) ( NP ( QP ( JJR more ) ( IN than ) ( NN half ) ) ( PRP$ its ) ( NNS goods ) ) ( PP-LOC ( IN outside ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( VP ( ADVP ( RB also ) ) ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ negative ) ( NN effect ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJR stronger ) ( NNP U.S. ) ( NN dollar ) ) ) ) ( VP ( MD will ) ( VP ( VP ( ADVP-MNR ( RB adversely ) ) ( VB affect ) ( NP ( PRP$ its ) ( JJ fourth-quarter ) ( NN performance ) ) ) ( CC and ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ difficult ) ) ( S-1 ( VP ( TO to ) ( VP ( VB better ) ( NP ( CD 1988 ) ( NNS results ) ) ) ) ) ) ) ) ) ) ) ) )

The computer maker which sells more than half its goods outside the U.S. also said the negative effect of a stronger U.S. dollar will adversely affect its fourth-quarter performance and make it difficult to better 1988 results


( S ( NP-SBJ ( NNP NCR ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN revenue ) ) ( VP ( VBD declined ) ( UCP-LOC ( DT both ) ( PP ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( CC and ) ( ADVP ( RB overseas ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( DT a ) ( JJ world-wide ) ( NN softening ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN computer ) ( NNS markets ) ) ) ) ) ) ) ) ) ) )

NCR said revenue declined both in the U.S. and overseas reflecting a world-wide softening of the computer markets


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( ADVP ( RB however ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS orders ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( VP ( VBD showed ) ( NP ( JJ good ) ( NNS gains ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ) ) ) ) )

The company however said orders in the U.S. showed good gains during the latest quarter


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP estimate ) ( NP ( DT those ) ( NNS gains ) ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 12 ) ( NN % ) ( TO to ) ( CD 13 ) ( NN % ) ) ) ) ( S-ADV ( NP-SBJ ( NP ( DT a ) ( JJ good ) ( NN part ) ) ( PP ( IN of ) ( NP ( PRP it ) ) ) ) ( VP ( VBG coming ) ( PP-CLR ( IN from ) ( NP ( NP ( JJ large ) ( NNS orders ) ) ( VP ( VBN placed ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ few ) ) ( PP ( IN of ) ( NP ( NP ( NNP NCR ) ( POS 's ) ) ( JJ major ) ( NNS customers ) ) ) ) ) ) ) ) ) ) ) )

Analysts estimate those gains at 12 % to 13 % a good part of it coming from large orders placed by a few of NCR 's major customers


( SINV ( S-TPC-4 ( PP ( IN In ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( JJ general ) ( NN slowing ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN computer ) ( NN industry ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNP NCR ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ sells ) ( NP ( NP ( VBN automated ) ( NN teller ) ( NNS machines ) ) ( CC and ) ( NP ( VBN computerized ) ( NN cash ) ( NNS registers ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBN affected ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( JJ retail ) ( CC and ) ( JJ financial ) ( NNS sectors ) ) ( NP ( NP ( NNS areas ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN economy ) ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP have ) ( ADVP ( RB generally ) ) ( RB not ) ( VP ( VBN been ) ( ADJP-PRD ( JJ robust ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ notes ) ) ( NP-SBJ ( NP ( NNP Sanjiv ) ( NNP G. ) ( NNP Hingorani ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN for ) ( NP ( NNP Salomon ) ( NNP Brothers ) ( NNP Inc ) ) ) ) ) )

In addition to a general slowing of the computer industry NCR which sells automated teller machines and computerized cash registers is also affected by the retail and financial sectors areas of the economy that have generally not been robust notes Sanjiv G. Hingorani an analyst for Salomon Brothers Inc


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT These ) ( NNS factors ) ) ( PP ( VBN combined ) ( PP ( IN with ) ( NP ( DT a ) ( JJ strong ) ( NN dollar ) ) ) ) ) ( VP ( MD should ) ( VP ( ADVP-MNR ( RB negatively ) ) ( VB affect ) ( NP ( NP ( DT the ) ( JJ current ) ( NN quarter ) ( POS 's ) ) ( NNS results ) ) ) ) ) ( NP-SBJ ( NNP NCR ) ) ( VP ( VBD said ) ) )

These factors combined with a strong dollar should negatively affect the current quarter 's results NCR said


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-earlier ) ( JJ fourth ) ( NN quarter ) ) ) ( NP-SBJ ( NNP NCR ) ) ( VP ( VBD had ) ( NP ( NP ( NN profit ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 149.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.85 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.8 ) ( CD billion ) ) ) ) ) ) ) )

In the year-earlier fourth quarter NCR had profit of 149.6 million or 1.85 a share on revenue of 1.8 billion


( S ( NP-SBJ ( NNP Mr. ) ( NNP Hingorani ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD lowered ) ( NP ( NP ( PRP$ his ) ( JJ full-year ) ( NNS estimates ) ) ( PP ( IN for ) ( NP ( CD 1989 ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 5.35 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( CD 5.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) )

Mr. Hingorani said he lowered his full-year estimates for 1989 to 5.35 a share from 5.50 a share


( S ( NP-SBJ-1 ( NN Revenue ) ( NNS projections ) ) ( VP ( VBD were ) ( VP ( VBN slashed ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 6.03 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 6.20 ) ( CD billion ) ) ) ) ) ) )

Revenue projections were slashed to 6.03 billion from 6.20 billion


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( NNP NCR ) ) ( VP ( VBD had ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 439.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 5.33 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( QP ( CD 5.99 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NN revenue ) ) ) ) ) ) )

Last year NCR had net income of 439.3 million or 5.33 a share on 5.99 billion in revenue


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNS earnings ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 9 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 264.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.40 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 289.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.49 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) )

For the nine months the company 's earnings fell 9 % to 264.6 million or 3.40 a share from 289.7 million or 3.49 a share


( S ( NP-SBJ ( NNS Revenues ) ) ( VP ( VBD declined ) ( NP-EXT ( CD 1 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 4.17 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 4.19 ) ( CD billion ) ) ) ) ) )

Revenues declined 1 % to 4.17 billion from 4.19 billion


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN composite ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ-1 ( NNP NCR ) ( NNS shares ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 75 ) ( NNS cents ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( CD 57 ) ) ) ) ) ) ) )

In New York Stock Exchange composite trading yesterday NCR shares fell 75 cents to close at 57


( S-HLN ( NP-SBJ ( NNS EAST ) ( NNS GERMANS ) ) ( VP ( VBD RALLIED ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( NNS officials ) ) ( VP ( ADVP ( RB reportedly ) ) ( VBD sought ) ( NP ( NP ( NNP Honecker ) ( POS 's ) ) ( NN ouster ) ) ) ) ) ) )

EAST GERMANS RALLIED as officials reportedly sought Honecker 's ouster


( S ( S-TPC-3 ( PP ( IN In ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( VP ( VBD was ) ( VP ( VBN considered ) ( S ( NP-PRD ( NP ( DT the ) ( JJS largest ) ( NN protest ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJ Communist ) ( NN state ) ( POS 's ) ) ( JJ 40-year ) ( NN history ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-4 ( QP ( IN at ) ( JJS least ) ( CD 120,000 ) ) ( NNS demonstrators ) ) ( VP ( VBN marched ) ( PP-DIR ( IN through ) ( NP ( NP ( DT the ) ( JJ southern ) ( NN city ) ) ( PP ( IN of ) ( NP ( NNP Leipzig ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB press ) ( NP ( NP ( NNS demands ) ) ( PP ( IN for ) ( NP ( JJ democratic ) ( NNS freedoms ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN opposition ) ( NNS activists ) ) ( VP ( VBD said ) ) )

In what was considered the largest protest in the Communist state 's 40-year history at least 120,000 demonstrators marched through the southern city of Leipzig to press demands for democratic freedoms opposition activists said


( S ( NP-SBJ ( NNS Police ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB intervene ) ) ) )

Police did n't intervene


( S ( ADVP ( RB Meanwhile ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ first ) ) ( PP ( IN of ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 1,300 ) ) ( NNS East ) ( NNS Germans ) ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB flee ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NNP West ) ) ) ( PP-DIR ( IN through ) ( NP ( NNP Poland ) ) ) ) ) ) ) ) ) ) ( VP ( VBD renounced ) ( NP ( PRP$ their ) ( NN citizenship ) ) ) ) ) ( NP-SBJ ( DT a ) ( ADJP ( JJ West ) ( JJ German ) ) ( NN newspaper ) ) ( VP ( VBD reported ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ regional ) ( JJ Communist ) ( NNS officials ) ) ( VP ( VBD demanded ) ( NP ( NP ( DT the ) ( NN dismissal ) ) ( PP ( IN of ) ( NP ( JJ hard-line ) ( NN leader ) ( NNP Honecker ) ) ) ) ) ) ) ) )

Meanwhile as the first of more than 1,300 East Germans trying to flee to the West through Poland renounced their citizenship a West German newspaper reported that regional Communist officials demanded the dismissal of hard-line leader Honecker


( S ( NP-SBJ-1 ( NAC ( NNP Secretary ) ( PP ( IN of ) ( NP ( NNP State ) ) ) ) ( NNP Baker ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ foreign ) ( NN policy ) ( NN speech ) ) ) ( VP ( VBD called ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NN reunification ) ) ( PP ( IN of ) ( NP ( NNP Germany ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ legitimate ) ( NN right ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ German ) ( NNS people ) ) ) ) ) ) ) ) ) ) )

Secretary of State Baker in a foreign policy speech called for the reunification of Germany saying it was the legitimate right of the German people


( S ( NP-SBJ ( NNP Gorbachev ) ) ( VP ( VBD blamed ) ( NP-1 ( NP ( DT the ) ( NNP Soviet ) ( NNP Union ) ( POS 's ) ) ( NN press ) ) ( PP-CLR ( IN for ) ( S-NOM ( VP ( VBG contributing ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( VBG mounting ) ( NNS problems ) ) ) ) ) ) ) )

Gorbachev blamed the Soviet Union 's press for contributing to the nation 's mounting problems


( S ( PP-LOC ( IN At ) ( NP ( DT a ) ( NN meeting ) ) ) ( NP-TMP ( NNP Friday ) ) ( NP-SBJ ( DT the ) ( NNP Kremlin ) ( NN leader ) ) ( VP ( VP ( VBD complained ) ( PP-CLR ( IN about ) ( NP ( NP ( JJ recent ) ( NNS articles ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD raised ) ( NP ( NP ( DT the ) ( NN possiblity ) ) ( PP ( IN of ) ( NP ( JJ civil ) ( NN unrest ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD accused ) ( NP ( NP ( DT the ) ( NNS media ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG fueling ) ( NP ( NP ( NN panic ) ( VBG buying ) ) ( PP ( IN of ) ( NP ( NNS goods ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG publishing ) ( NP ( NP ( NNS stories ) ) ( PP ( IN about ) ( NP ( VBG impending ) ( NNS shortages ) ) ) ) ) ) ) ) ) ) ) ) ) )

At a meeting Friday the Kremlin leader complained about recent articles that raised the possiblity of civil unrest and accused the media of fueling panic buying of goods by publishing stories about impending shortages


( S ( NP-SBJ ( JJ House-Senate ) ( NNS conferees ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( JJ permanent ) ( NN smoking ) ( NN ban ) ) ( PP ( PP ( IN on ) ( NP ( NP ( JJ domestic ) ( NN airline ) ( NNS routes ) ) ( PP-LOC ( IN within ) ( NP ( DT the ) ( JJ continental ) ( NNP U.S. ) ) ) ) ) ( CC and ) ( PP ( IN on ) ( NP ( NP ( NNS flights ) ) ( PP ( IN of ) ( NP ( QP ( JJR less ) ( IN than ) ( CD six ) ) ( NNS hours ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Alaska ) ( CC and ) ( NNP Hawaii ) ) ) ) ) ) ) ) )

House-Senate conferees approved a permanent smoking ban on domestic airline routes within the continental U.S. and on flights of less than six hours to Alaska and Hawaii


( S ( NP-SBJ ( DT The ) ( NNS curbs ) ) ( VP ( MD would ) ( VP ( VP ( VB cover ) ( NP ( NP ( DT all ) ) ( PP ( CC but ) ( NP ( DT a ) ( JJ small ) ( NN percentage ) ) ) ( PP ( IN of ) ( NP ( NNS flights ) ) ) ) ) ( CC and ) ( VP ( VB represent ) ( NP ( NP ( DT an ) ( NN expansion ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ current ) ( NN ban ) ) ( PP ( IN on ) ( NP ( NP ( NNS flights ) ) ( PP ( IN of ) ( NP ( QP ( JJR less ) ( IN than ) ( CD two ) ) ( NNS hours ) ) ) ) ) ) ) ) ) ) ) )

The curbs would cover all but a small percentage of flights and represent an expansion of the current ban on flights of less than two hours


( S ( NP-SBJ-1 ( NNP E. ) ( NNP Robert ) ( NNP Wallach ) ) ( VP ( VBD was ) ( VP ( VP ( VBN sentenced ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NNP U.S. ) ( NN judge ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( CD six ) ( NNS years ) ) ( PP-LOC ( IN in ) ( NP ( NN prison ) ) ) ) ) ) ( CC and ) ( VP ( VBN fined ) ( NP ( CD 250,000 ) ) ( PP-PRP ( IN for ) ( NP ( NP ( PRP$ his ) ( NN racketeering ) ( NN conviction ) ) ( PP ( IN in ) ( NP ( DT the ) ( NNP Wedtech ) ( NN scandal ) ) ) ) ) ) ) ) )

E. Robert Wallach was sentenced by a U.S. judge in New York to six years in prison and fined 250,000 for his racketeering conviction in the Wedtech scandal


( S ( NP-SBJ-2 ( NP ( NNP Wallach ) ) ( NP ( NP ( DT an ) ( NN associate ) ) ( PP ( IN of ) ( NP ( NNP ex-Attorney ) ( NNP General ) ( NNP Meese ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN found ) ( S ( ADJP-PRD ( JJ guilty ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( PP-1 ( IN of ) ( S-NOM ( VP ( VBG taking ) ( NP ( NP ( CD 425,000 ) ) ( PP ( IN in ) ( NP ( JJ illegal ) ( NNS payoffs ) ) ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( JJ now-defunct ) ( NN defense ) ( NN contractor ) ) ) ) ) ) ) ) )

Wallach an associate of ex-Attorney General Meese was found guilty in August of taking 425,000 in illegal payoffs from the now-defunct defense contractor


( S ( S ( NP-SBJ ( NNP NASA ) ) ( VP ( VBD resumed ) ( NP ( NP ( DT the ) ( NN countdown ) ) ( PP ( IN for ) ( NP ( NP ( NP ( NN today ) ( POS 's ) ) ( NN launch ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN space ) ( NN shuttle ) ( NNP Atlantis ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ federal ) ( NNS appeals ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ) ) ) ( VP ( VBD dismissed ) ( NP ( NP ( DT a ) ( NN lawsuit ) ) ( PP ( IN by ) ( NP ( JJ anti-nuclear ) ( NNS groups ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB delay ) ( NP ( DT the ) ( NN flight ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( DT the ) ( JJ plutonium-powered ) ( NNP Galileo ) ( NN space ) ( NN probe ) ) ( VP ( VBD was ) ( ADVP-LOC-PRD ( RB aboard ) ) ) ) ) ) ) ) ) ) ) ) )

NASA resumed the countdown for today 's launch of the space shuttle Atlantis and a federal appeals court in Washington dismissed a lawsuit by anti-nuclear groups to delay the flight because the plutonium-powered Galileo space probe was aboard


( S ( NP-SBJ ( DT The ) ( NN space ) ( NN agency ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB expect ) ( S ( NP-SBJ ( NN weather ) ( CC or ) ( NNS protesters ) ) ( VP ( TO to ) ( VP ( VB block ) ( NP ( DT the ) ( NN liftoff ) ) ) ) ) ) ) ) ) ) )

The space agency said it did n't expect weather or protesters to block the liftoff


( S ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NNP Bush ) ( NN administration ) ) ( VP ( VBZ is ) ( VP ( VBG preparing ) ( S ( VP ( TO to ) ( VP ( VB extend ) ( NP ( NP ( DT a ) ( NN ban ) ) ( PP ( IN on ) ( NP ( NP ( JJ federal ) ( NN financing ) ) ( PP ( IN of ) ( NP ( NP ( NN research ) ) ( VP ( VBG using ) ( NP ( JJ fetal ) ( NN tissue ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN government ) ( NNS sources ) ) ( VP ( VBD said ) ) )

The Bush administration is preparing to extend a ban on federal financing of research using fetal tissue government sources said


( S ( NP-SBJ-1 ( DT A ) ( JJ temporary ) ( NN prohibition ) ) ( VP ( VBD was ) ( VP ( VBN imposed ) ( PP-TMP ( IN in ) ( NP ( NNP March ) ( CD 1988 ) ) ) ) ) )

A temporary prohibition was imposed in March 1988


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ-1 ( JJ anti-abortion ) ( NNS groups ) ) ( VP ( VBP are ) ( VP ( VBN opposed ) ( PP-CLR ( TO to ) ( NP ( JJ such ) ( NN research ) ) ) ) ) ) ) ( NP-SBJ ( NNS scientists ) ) ( VP ( VBP have ) ( VP ( VBD said ) ( SBAR ( S ( S-NOM-SBJ ( VP ( VBG transplanting ) ( NP ( JJ such ) ( NN tissue ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( ADJP-PRD ( JJ effective ) ( PP ( IN in ) ( S-NOM ( VP ( VBG treating ) ( NP ( NN diabetes ) ) ) ) ) ) ) ) ) ) ) ) )

While anti-abortion groups are opposed to such research scientists have said transplanting such tissue could be effective in treating diabetes


( S ( NP-SBJ ( NP ( NNS Delegates ) ) ( PP ( IN from ) ( NP ( CD 91 ) ( NNS nations ) ) ) ) ( VP ( VBD endorsed ) ( NP ( NP ( DT a ) ( NN ban ) ) ( PP ( IN on ) ( NP ( NN world ) ( NN ivory ) ( NN trade ) ) ) ) ( PP ( IN in ) ( NP ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB rescue ) ( NP ( DT the ) ( VBN endangered ) ( NN elephant ) ) ( PP ( IN from ) ( NP ( NN extinction ) ) ) ) ) ) ) ) ) )

Delegates from 91 nations endorsed a ban on world ivory trade in an attempt to rescue the endangered elephant from extinction


( S ( NP-SBJ ( CD Five ) ( JJ African ) ( NNS nations ) ) ( ADVP ( RB however ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD would ) ( VP ( VB continue ) ( S ( VP ( VBG selling ) ( NP ( DT the ) ( JJ valuable ) ( NNS tusks ) ) ) ) ) ) ) ) ) )

Five African nations however said they would continue selling the valuable tusks


( S ( NP-SBJ ( NNP Mubarak ) ) ( VP ( VBD held ) ( NP ( NN reconciliation ) ( NNS talks ) ) ( PP ( IN with ) ( NP ( NNP Gadhafi ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( JJ Egyptian ) ( NN resort ) ) ( PP ( IN of ) ( NP ( NNP Mersa ) ( NNP Metruh ) ) ) ) ) ) )

Mubarak held reconciliation talks with Gadhafi at the Egyptian resort of Mersa Metruh


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NP ( DT the ) ( JJ Libyan ) ( NN leader ) ( POS 's ) ) ( JJ first ) ( NN trip ) ) ( PP ( TO to ) ( NP ( NNP Egypt ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 16 ) ( NNS years ) ) ) ) ) )

It was the Libyan leader 's first trip to Egypt in 16 years


( S ( NP-SBJ ( PRP They ) ) ( VP ( VP ( VBD announced ) ( NP ( NP ( DT a ) ( NN reduction ) ) ( PP ( IN in ) ( NP ( NP ( NNS formalities ) ) ( PP ( IN for ) ( NP ( NN travel ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB show ) ( NP ( NP ( DT any ) ( JJ real ) ( NNS signs ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG resuming ) ( NP ( JJ full ) ( JJ diplomatic ) ( NNS ties ) ) ) ) ) ) ) ) ) )

They announced a reduction in formalities for travel but did n't show any real signs of resuming full diplomatic ties


( S ( NP-SBJ ( DT The ) ( JJ Egyptian ) ( NN president ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( MD would ) ( VP ( VB visit ) ( NP ( NNP Libya ) ) ( NP-TMP ( NN today ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB resume ) ( NP ( DT the ) ( NNS talks ) ) ) ) ) ) ) ) ) ) )

The Egyptian president said he would visit Libya today to resume the talks


( S ( NP-SBJ ( NNP Seoul ) ( CC and ) ( NNP Pyongyang ) ) ( VP ( VBD reached ) ( NP ( DT a ) ( JJ tentative ) ( NN agreement ) ( S ( VP ( TO to ) ( VP ( VB allow ) ( NP ( NP ( NNS visits ) ) ( PP ( IN between ) ( NP ( NNS families ) ) ) ) ( PP ( IN on ) ( NP ( DT the ) ( VBN divided ) ( JJ Korean ) ( NN peninsula ) ) ) ) ) ) ) ) )

Seoul and Pyongyang reached a tentative agreement to allow visits between families on the divided Korean peninsula


( S ( NP-SBJ ( JJ Such ) ( NN family ) ( NNS reunions ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJ second ) ) ( PP-TMP ( IN since ) ( NP ( CD 1945 ) ) ) ) ) ) )

Such family reunions would be the second since 1945


( S ( NP-SBJ ( NP ( NNS Differences ) ) ) ( VP ( VBD remained ) ( PP ( IN between ) ( NP ( DT the ) ( JJ North ) ( CC and ) ( JJ South ) ( JJ Korean ) ( NNS governments ) ) ) ( ADVP ( RB however ) ) ( PP-1 ( IN over ) ( NP ( NP ( NNS conditions ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS exchanges ) ) ) ) ) ) )

Differences remained between the North and South Korean governments however over conditions for the exchanges


( S ( NP-SBJ-1 ( VBN Freed ) ( JJ black ) ( NNS nationalists ) ) ( VP ( VP ( VBD resumed ) ( NP ( JJ political ) ( NN activity ) ) ( PP-LOC ( IN in ) ( NP ( NNP South ) ( NNP Africa ) ) ) ) ( CC and ) ( VP ( VBD vowed ) ( S ( VP ( TO to ) ( VP ( VB fight ) ( PP-CLR ( IN against ) ( NP ( NN apartheid ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG raising ) ( NP ( NP ( NNS fears ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ possible ) ( JJ white ) ( NN backlash ) ) ) ) ) ) ) )

Freed black nationalists resumed political activity in South Africa and vowed to fight against apartheid raising fears of a possible white backlash


( S ( NP-SBJ ( NP ( DT The ) ( NN nation ) ( POS 's ) ) ( JJ main ) ( JJ white ) ( NN opposition ) ( NN party ) ) ( VP ( VBD warned ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( NP ( DT the ) ( NN government ) ( POS 's ) ) ( NN release ) ) ( NP-TMP ( NNP Sunday ) ) ( PP-CLR ( IN of ) ( NP ( CD eight ) ( JJ black ) ( JJ political ) ( NNS prisoners ) ) ) ) ( VP ( VBD risked ) ( S ( VP ( VBG bringing ) ( NP ( NP ( NN chaos ) ) ( CC and ) ( NP ( JJ eventual ) ( JJ black ) ( JJ Marxist ) ( NN rule ) ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN nation ) ) ) ) ) ) ) ) ) )

The nation 's main white opposition party warned that the government 's release Sunday of eight black political prisoners risked bringing chaos and eventual black Marxist rule to the nation


( S ( NP-SBJ ( DT The ) ( NNP White ) ( NNP House ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNP Bush ) ) ( VP ( VBZ is ) ( VP ( ADVP ( RB fully ) ) ( VBN satisfied ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP CIA ) ( NNP Director ) ( NNP Webster ) ) ( CC and ) ( NP ( NP ( NP ( DT the ) ( NN intelligence ) ( NN agency ) ( POS 's ) ) ( NN performance ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NNP Oct. ) ( CD 3 ) ( VBN failed ) ( NN coup ) ) ( PP-LOC ( IN in ) ( NP ( NNP Panama ) ) ) ) ) ) ) ) ) ) ) ) ) )

The White House said Bush is fully satisfied with CIA Director Webster and the intelligence agency 's performance during the Oct. 3 failed coup in Panama


( S ( NP-SBJ ( DT The ) ( NNP Washington ) ( NNP Post ) ) ( VP ( VBD reported ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ unidentified ) ( JJ senior ) ( NN administration ) ( NNS officials ) ) ( VP ( VP ( VBD were ) ( VP ( VBN frustrated ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( NNP Webster ) ( POS 's ) ) ( JJ low-profile ) ( NNS activities ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN insurrection ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD wanted ) ( S ( NP-SBJ-1 ( PRP him ) ) ( VP ( VBN replaced ) ) ) ) ) ) ) ) )

The Washington Post reported that unidentified senior administration officials were frustrated with Webster 's low-profile activities during the insurrection and wanted him replaced


( S ( NP-SBJ ( NP ( NNP Poland ) ( POS 's ) ) ( NN legislature ) ) ( VP ( VBD approved ) ( NP ( NP ( NNS limits ) ) ( PP ( IN on ) ( NP ( JJ automatic ) ( NN wage ) ( NNS increases ) ) ) ) ( PP ( IN without ) ( NP ( NP ( JJ special ) ( NNS provisions ) ) ( PP ( IN for ) ( NP ( NN food ) ( NN price ) ( NNS rises ) ) ) ) ) ) )

Poland 's legislature approved limits on automatic wage increases without special provisions for food price rises


( S ( NP-SBJ-1 ( DT The ) ( NN vote ) ) ( VP ( VBD was ) ( VP ( VBN considered ) ( S ( NP-PRD ( NP ( DT a ) ( NN test ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ Solidarity-led ) ( NN government ) ( POS 's ) ) ( NN resolve ) ( S ( VP ( TO to ) ( VP ( VB proceed ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( JJ harsh ) ( JJ economic-restructuring ) ( NN program ) ) ) ) ) ) ) ) ) ) ) ) )

The vote was considered a test of the Solidarity-led government 's resolve to proceed with a harsh economic-restructuring program


( S ( NP-SBJ ( NP ( NNP Norway ) ( POS 's ) ) ( NNP King ) ( NNP Olav ) ( NNP V ) ) ( VP ( VBD installed ) ( NP ( DT a ) ( JJ three-party ) ( JJ non-Socialist ) ( NN government ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( NP ( NNP Gro ) ( NNP Harlem ) ( NNP Brundtland ) ( POS 's ) ) ( JJ three-year-old ) ( NNP Labor ) ( NN regime ) ) ( VP ( VBD relinquished ) ( NP ( NN power ) ) ) ) ) ) )

Norway 's King Olav V installed a three-party non-Socialist government as Gro Harlem Brundtland 's three-year-old Labor regime relinquished power


( S ( NP-SBJ-1 ( DT The ) ( JJ 19-member ) ( NN cabinet ) ) ( VP ( VBZ is ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Prime ) ( NNP Minister ) ( NNP Jan ) ( NNP Syse ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD acknowledged ) ( NP ( DT a ) ( JJ difficult ) ( NN situation ) ) ( SBAR-PRP ( IN since ) ( S ( NP-SBJ ( DT the ) ( NN coalition ) ) ( VP ( VBZ controls ) ( NP ( NP ( RB only ) ( CD 62 ) ( NNS seats ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN Oslo ) ( POS 's ) ) ( JJ 165-member ) ( NN legislature ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 19-member cabinet is led by Prime Minister Jan Syse who acknowledged a difficult situation since the coalition controls only 62 seats in Oslo 's 165-member legislature


( S ( NP-SBJ ( NP ( NNP El ) ( NNP Salvador ) ( POS 's ) ) ( NN government ) ) ( VP ( VBD opened ) ( NP ( NP ( DT a ) ( JJ new ) ( NN round ) ) ( PP ( IN of ) ( NP ( NP ( NNS talks ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN country ) ( POS 's ) ) ( JJ leftist ) ( NNS rebels ) ) ) ) ) ) ( PP ( IN in ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB end ) ( NP ( DT a ) ( JJ decade-long ) ( JJ civil ) ( NN war ) ) ) ) ) ) ) ) )

El Salvador 's government opened a new round of talks with the country 's leftist rebels in an effort to end a decade-long civil war


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS guerrillas ) ) ( VP ( MD would ) ( VP ( VB present ) ( NP ( NP ( DT a ) ( NN cease-fire ) ( NN proposal ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NNS negotiations ) ) ( PP-LOC ( IN in ) ( NP ( NNP Costa ) ( NNP Rica ) ) ) ) ) ( SBAR-2 ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ includes ) ( NP ( ADJP ( JJ constitutional ) ( CC and ) ( JJ economic ) ) ( NNS changes ) ) ) ) ) ) ) ) ) ) )

A spokesman said the guerrillas would present a cease-fire proposal during the negotiations in Costa Rica that includes constitutional and economic changes


( S ( NP-SBJ ( DT The ) ( NNP State ) ( NNP Department ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NN possibility ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT some ) ( JJ Nicaraguan ) ( NNS rebels ) ) ( VP ( VBD were ) ( VP ( VBG selling ) ( NP ( PRP$ their ) ( JJ U.S.-supplied ) ( NNS arms ) ) ( PP-DTV ( TO to ) ( NP ( JJ Salvadoran ) ( NNS guerrillas ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD insisted ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( DT an ) ( VBN organized ) ( NN effort ) ) ) ) ) ) ) )

The State Department said there was a possibility that some Nicaraguan rebels were selling their U.S.-supplied arms to Salvadoran guerrillas but insisted it was n't an organized effort


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NAC ( NNP Secretary ) ( PP ( IN of ) ( NP ( NNP State ) ) ) ) ( NNP Baker ) ) ( VP ( VBD complained ) ( PP-CLR ( IN about ) ( NP ( NP ( DT a ) ( NNP U.N. ) ( NN aide ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( NP-TMP ( JJ last ) ( NN week ) ) ( VP ( VBD told ) ( NP-2 ( DT the ) ( NNS Contras ) ) ( S ( VP ( TO to ) ( VP ( VB disband ) ) ) ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ regional ) ( NN peace ) ( NN accord ) ) ) ) ) ) ) ) ) ) ) )

Separately Secretary of State Baker complained about a U.N. aide who last week told the Contras to disband as part of a regional peace accord


( SINV ( VBN Died ) ( NP-SBJ ( NP ( NNP Cornel ) ( NNP Wilde ) ) ( NP ( CD 74 ) ) ( NP ( NN actor ) ( CC and ) ( NN director ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ( PP-CLR ( IN of ) ( NP ( NN leukemia ) ) ) )

Died Cornel Wilde 74 actor and director in Los Angeles of leukemia


( FRAG ( NP-SBJ ( NP ( NNP Danilo ) ( NNP Kis ) ) ( NP ( CD 54 ) ) ( NP ( JJ Yugoslav-born ) ( NN novelist ) ( CC and ) ( NN essayist ) ) ) ( NP-TMP ( NNP Sunday ) ) ( PP-LOC ( IN in ) ( NP ( NNP Paris ) ) ) ( PP-CLR ( IN of ) ( NP ( NN cancer ) ) ) )

Danilo Kis 54 Yugoslav-born novelist and essayist Sunday in Paris of cancer


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Allegheny ) ( NNP Ludlum ) ( NNP Corp. ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB report ) ( NP ( NP ( JJ third-quarter ) ( JJ net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 34 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( ADVP ( RB down ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 38.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.70 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Richard ) ( NNP P. ) ( NNP Simmons ) ) ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( ADJP ( JJ chief ) ( JJ executive ) ) ( NN officer ) ) ) ) ( VP ( VBD told ) ( NP ( NP ( JJ institutional ) ( NNS investors ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) )

Allegheny Ludlum Corp. expects to report third-quarter net of about 34 million or 1.50 a share down from 38.4 million or 1.70 a share a year earlier Richard P. Simmons chairman and chief executive officer told institutional investors in New York


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNS Sales ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ Pittsburgh-based ) ( NN producer ) ) ( PP ( IN of ) ( NP ( NP ( NN specialty ) ( NNS steels ) ) ( CC and ) ( NP ( JJ other ) ( NNS materials ) ) ) ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( QP ( RB about ) ( CD 265 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 320.5 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

Sales for the Pittsburgh-based producer of specialty steels and other materials fell to about 265 million in the third quarter from 320.5 million a year earlier he said


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ third-quarter ) ( NN estimate ) ) ( VP ( VBZ indicates ) ( NP ( NP ( NN profit ) ) ( PP ( IN for ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( PP ( IN of ) ( NP ( NP ( CD 4.65 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADJP ( RB almost ) ( JJ equal ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( JJ full-year ) ( CD 1988 ) ( NNS earnings ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 108.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.81 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said the third-quarter estimate indicates profit for the nine months of 4.65 a share almost equal to the full-year 1988 earnings of 108.6 million or 4.81 a share


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ( NP-SBJ ( JJ net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 85 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.76 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

In the first nine months of 1988 net was 85 million or 3.76 a share


( S ( NP-SBJ ( NNP Mr. ) ( NNP Simmons ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ third-quarter ) ( NNS results ) ) ( VP ( VBP reflect ) ( NP ( NP ( VBN continued ) ( NNS improvements ) ) ( PP ( IN in ) ( NP ( NN productivity ) ( CC and ) ( NN operating ) ( NNS margins ) ) ) ) ) ) ) ) )

Mr. Simmons said the third-quarter results reflect continued improvements in productivity and operating margins


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NN capital ) ( NN spending ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ( VP ( MD will ) ( VP ( VB rise ) ( PP-DIR ( TO to ) ( NP ( QP ( RB about ) ( CD 45 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( RB about ) ( CD 35 ) ( CD million ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) )

He said capital spending next year will rise to about 45 million from about 35 million this year


( S ( NP-SBJ ( NP ( NNP Nintendo ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( JJ Japanese ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NP ( JJ video ) ( NNS games ) ) ( NP ( JJ electronic ) ( NN information ) ( NNS systems ) ) ( CC and ) ( NP ( NN playing ) ( NNS cards ) ) ) ) ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( ADJP ( CD 23 ) ( NN % ) ) ( VBD unconsolidated ) ( NN surge ) ) ( PP ( IN in ) ( NP ( JJ pretax ) ( NN profit ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 61.41 ) ( CD billion ) ) ( NNS yen ) ) ( NP ( QP ( CD 429 ) ( CD million ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 50 ) ( CD billion ) ) ( NNS yen ) ) ( NP ( QP ( CD 349.9 ) ( CD million ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ( VP ( VBN ended ) ( NP-TMP-CLR ( NNP Aug. ) ( CD 31 ) ) ) ) ) ) )

Nintendo Co. a Japanese maker of video games electronic information systems and playing cards posted a 23 % unconsolidated surge in pretax profit to 61.41 billion yen 429 million from 50 billion yen 349.9 million for the fiscal year ended Aug. 31


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD surged ) ( NP-EXT ( CD 40 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 250.17 ) ( CD billion ) ) ( NNS yen ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 178.61 ) ( CD billion ) ) ) ) ) )

Sales surged 40 % to 250.17 billion yen from 178.61 billion


( S ( NP-SBJ ( JJ Net ) ( NN income ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 11 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 29.62 ) ( CD billion ) ) ( NNS yen ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 26.68 ) ( CD billion ) ) ) ) ) )

Net income rose 11 % to 29.62 billion yen from 26.68 billion


( S ( NP-SBJ ( JJ Pershare ) ( JJ net ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( CD 423.3 ) ( NNS yen ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 457.7 ) ( NNS yen ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NNS expenses ) ) ( CC and ) ( NP ( NN capital ) ( NNS adjustments ) ) ) ) ) )

Pershare net fell to 423.3 yen from 457.7 yen because of expenses and capital adjustments


( S ( PP ( IN Without ) ( S-NOM ( VP ( VBG detailing ) ( NP ( JJ specific ) ( NN product ) ( NNS breakdowns ) ) ) ) ) ( NP-SBJ-1 ( NNP Nintendo ) ) ( VP ( VBD credited ) ( NP ( NP ( PRP$ its ) ( JJ bullish ) ( NN upsurge ) ) ( PP ( IN in ) ( NP ( NP ( NNS sales ) ) ( PP ( VBG including ) ( NP ( NP ( VBN advanced ) ( NN computer ) ( NNS games ) ) ( CC and ) ( NP ( NN television ) ( NN entertainment ) ( NNS systems ) ) ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ surging ) ( JJ leisure-oriented ) ( NNS sales ) ) ( PP-LOC ( IN in ) ( NP ( JJ foreign ) ( NNS markets ) ) ) ) ) ) )

Without detailing specific product breakdowns Nintendo credited its bullish upsurge in sales including advanced computer games and television entertainment systems to surging leisure-oriented sales in foreign markets


( S ( NP-SBJ ( NP ( NN Export ) ( NNS sales ) ) ( PP ( IN for ) ( NP ( NP ( NN leisure ) ( NNS items ) ) ( ADVP ( RB alone ) ) ) ) ) ( PP ( IN for ) ( NP ( NN instance ) ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 184.74 ) ( CD billion ) ) ( NNS yen ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 12 ) ( NNS months ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( QP ( CD 106.06 ) ( CD billion ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( ADJP ( JJ previous ) ( JJ fiscal ) ) ( NN year ) ) ) ) ) ) )

Export sales for leisure items alone for instance totaled 184.74 billion yen in the 12 months up from 106.06 billion in the previous fiscal year


( S ( NP-SBJ ( JJ Domestic ) ( NN leisure ) ( NNS sales ) ) ( ADVP ( RB however ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJR lower ) ) ) )

Domestic leisure sales however were lower


( S ( S-ADV ( VP ( VBG Enjoying ) ( NP ( NP ( JJ several ) ( NN blockbuster ) ( NN movie ) ( NNS hits ) ) ( PP ( VBG including ) ( NP-TTL ( NNP Batman ) ) ) ) ) ) ( NP-SBJ-1 ( ADJP ( NNP Los ) ( JJ Angeles-based ) ) ( NNP Guber-Peters ) ( NNP Entertainment ) ( NNP Co. ) ) ( VP ( VBD reported ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( VP ( VBN ended ) ( NP-TMP-CLR ( NNP Aug. ) ( CD 31 ) ) ) ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 5.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 50 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( DT a ) ( JJ year-earlier ) ( NN loss ) ) ) ) ) ) ) ) )

Enjoying several blockbuster movie hits including Batman Los Angeles-based Guber-Peters Entertainment Co. reported earnings for the first quarter ended Aug. 31 of 5.8 million or 50 cents a share compared with a year-earlier loss


( S ( NP-SBJ-3 ( NP ( NNP Sony ) ( NNP Corp. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN offered ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( DT the ) ( JJ movie-production ) ( NN company ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG seeking ) ( S ( VP ( TO to ) ( VP ( VB free ) ( NP ( NP ( PRP$ its ) ( JJ top ) ( NNS executives ) ) ( NP ( NP ( NNP Peter ) ( NNP Guber ) ) ( CC and ) ( NP ( NNP Jon ) ( NNP Peters ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT an ) ( JJ exclusive ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NP ( NNP Time ) ( NNP Warner ) ( NNP Inc. ) ( POS 's ) ) ( NNP Warner ) ( NNP Communications ) ( NNP Inc. ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN so ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD can ) ( VP ( VB run ) ( NP ( NNP Columbia ) ( NNP Pictures ) ( NNP Entertainment ) ( NNP Inc ) ) ) ) ) ) ) ) )

Sony Corp. which has offered to acquire the movie-production company is seeking to free its top executives Peter Guber and Jon Peters from an exclusive agreement with Time Warner Inc. 's Warner Communications Inc. so they can run Columbia Pictures Entertainment Inc


( S ( NP-SBJ-1 ( NNP Sony ) ) ( ADVP-TMP ( NP ( CD two ) ( NNS weeks ) ) ( RB ago ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NNP Columbia ) ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( CD 3.4 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 27 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) )

Sony two weeks ago agreed to acquire Columbia for 3.4 billion or 27 a share


( S ( S ( NP-SBJ ( NNP Warner ) ) ( VP ( VBD sued ) ( NP ( NNP Sony ) ( CC and ) ( NNS Guber-Peters ) ) ( NP-TMP ( JJ late ) ( JJ last ) ( NN week ) ) ) ) ( S ( NP-SBJ-2 ( NNP Sony ) ( CC and ) ( NNS Guber-Peters ) ) ( VP ( VBP have ) ( VP ( VBN countersued ) ( S-ADV ( VP ( VBG charging ) ( NP ( NNP Warner ) ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG attempting ) ( S ( VP ( TO to ) ( VP ( VB interfere ) ( PP-CLR ( IN in ) ( NP ( NP ( NP ( NNP Sony ) ( POS 's ) ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD two ) ( NNS companies ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Warner sued Sony and Guber-Peters late last week Sony and Guber-Peters have countersued charging Warner with attempting to interfere in Sony 's acquisition of the two companies


( S ( NP-SBJ ( NP ( NP ( NNS Guber-Peters ) ( POS 's ) ) ( JJ net ) ( NN income ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ) ( VP ( VBN compared ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 6.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 62 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ) ) ) )

Guber-Peters 's net income in the latest quarter compared with a net loss of 6.9 million or 62 cents a share in the year-earlier period


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 138 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 10.9 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 4.6 ) ( CD million ) ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( DT the ) ( NN success ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNS movies ) ) ( NP ( NP-TTL ( NP ( NNP Gorillas ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Mist ) ) ) ) ( CC and ) ( NP-TTL ( NNP Rainman ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP ( DT the ) ( NN box-office ) ( NN smash ) ) ( NP-TTL ( NNP Batman ) ) ) ) ) ) ) ) ) ) ) ) )

The company said revenue rose 138 % to 10.9 million from 4.6 million reflecting the success of its movies Gorillas in the Mist and Rainman as well as the box-office smash Batman


( S ( S ( NP-SBJ ( NN Share ) ( NNS prices ) ) ( VP ( VBD plummeted ) ( PP-LOC ( IN across ) ( NP ( NNP Europe ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NNP New ) ( NNP York ) ( NN sell-off ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT some ) ( NNS issues ) ) ( VP ( VBD staged ) ( NP ( DT a ) ( JJ late ) ( NN comeback ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( VBD opened ) ( PP-MNR ( IN without ) ( NP ( DT another ) ( NN rout ) ) ) ) ) ) ) ) )

Share prices plummeted across Europe yesterday in response to Friday 's New York sell-off but some issues staged a late comeback after Wall Street opened without another rout


( S ( NP-SBJ ( JJ European ) ( NNS investors ) ) ( VP ( VBP have ) ( NP ( NP ( JJ further ) ( NN reason ) ) ( PP ( IN for ) ( NP ( NN optimism ) ) ) ) ( NP-TMP ( NN today ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( NNP U.S. ) ( NN rebound ) ) ) ) )

European investors have further reason for optimism today after the U.S. rebound


( S ( NP-SBJ ( NP ( DT The ) ( NNP Frankfurt ) ( NNP Stock ) ( NNP Exchange ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD closed ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( DT the ) ( NNP New ) ( NNP York ) ( NNS exchanges ) ) ( VP ( VBD opened ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJS hardest ) ( NN hit ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ major ) ( JJ European ) ( NNS markets ) ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( DT the ) ( NNP DAX ) ( NNP Index ) ) ( VP ( VBG dropping ) ( NP-EXT ( CD 12.8 ) ( NN % ) ) ) ) ) ) )

The Frankfurt Stock Exchange which closed before the New York exchanges opened was the hardest hit of the major European markets with the DAX Index dropping 12.8 %


( S ( PP-LOC ( IN In ) ( NP ( NNP London ) ) ) ( NP-SBJ-1 ( NNS prices ) ) ( VP ( VP ( VBD plummeted ) ( PP-TMP ( IN in ) ( NP ( JJ early ) ( NN trading ) ) ) ) ( CC and ) ( VP ( VBD were ) ( ADJP-PRD ( JJ off ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 9 ) ) ( NN % ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG coming ) ( ADVP-CLR ( RB back ) ) ( ADJP-CLR ( JJ strong ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN opening ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( ADVP-CLR ( RB down ) ( NP ( QP ( RB only ) ( CD 3.2 ) ) ( NN % ) ) ) ) ) ) ) ) ) ) ) )

In London prices plummeted in early trading and were off as much as 9 % before coming back strong after the New York opening to close down only 3.2 %


( S ( NP-SBJ ( JJ West ) ( JJ German ) ( NNP Economics ) ( NNP Minister ) ( NNP Helmut ) ( NNP Haussmann ) ) ( VP ( VBD said ) ( S ( PP ( IN In ) ( NP ( PRP$ my ) ( NN view ) ) ) ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( MD will ) ( VP ( VB stabilize ) ( ADVP-TMP ( RB relatively ) ( RB quickly ) ) ) ) ) ) )

West German Economics Minister Helmut Haussmann said In my view the stock market will stabilize relatively quickly


( S ( S ( NP-SBJ ( EX There ) ) ( VP ( MD may ) ( VP ( VB be ) ( NP-PRD ( ADJP ( CD one ) ( CC or ) ( JJ other ) ( JJ psychological ) ( CC or ) ( JJ technical ) ) ( NNS reactions ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NNS fundamentals ) ) ) ) ) ) )

There may be one or other psychological or technical reactions but they are n't based on fundamentals


( S ( NP-SBJ ( NP ( DT The ) ( NN economy ) ) ( PP ( IN of ) ( NP ( NP ( NNP West ) ( NNP Germany ) ) ( CC and ) ( NP ( NP ( DT the ) ( NNP EC ) ) ( PRN ( NP ( NNP European ) ( NNP Community ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB highly ) ( JJ stable ) ) ) )

The economy of West Germany and the EC European Community is highly stable


( S ( NP-SBJ-1 ( NP ( NNP Paris ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( NN center ) ) ( PP ( IN of ) ( NP ( NN speculation ) ( NN fever ) ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS weeks ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD was ) ( VP ( ADVP ( RB hard ) ) ( VBN hit ) ) ) )

Paris which has been the center of speculation fever in recent weeks also was hard hit


( S ( NP-SBJ ( NN Share ) ( NNS prices ) ) ( VP ( VBD fell ) ( PP-LOC ( IN in ) ( NP ( NNP Milan ) ( NNP Amsterdam ) ( NNP Zurich ) ( NNP Madrid ) ( CC and ) ( NNP Stockholm ) ) ) ) )

Share prices fell in Milan Amsterdam Zurich Madrid and Stockholm


( S ( NP-SBJ ( NP ( NNP Prices ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Brussels ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( DT a ) ( NN computer ) ( NN breakdown ) ) ( VP ( VBD disrupted ) ( NP ( NN trading ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD tumbled ) ) )

Prices in Brussels where a computer breakdown disrupted trading also tumbled


( SINV ( S-ADV ( VP ( VBG Following ) ) ) ( VBZ is ) ( NP-SBJ-1 ( NP ( NP ( DT a ) ( NN breakdown ) ) ( PP ( IN of ) ( NP ( JJ major ) ( NN market ) ( NN activity ) ) ) ) ) )

Following is a breakdown of major market activity


FRANKFURT


( S ( NP-SBJ ( NP ( CD One ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJS sharpest ) ( NNS declines ) ) ) ) ( VP ( VBD came ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN center ) ) ( PP ( IN of ) ( NP ( NP ( NNP Europe ) ( POS 's ) ) ( JJS strongest ) ( NN economy ) ) ) ) ) ) )

One of the sharpest declines came in the financial center of Europe 's strongest economy


( S ( NP-SBJ ( NP ( DT The ) ( NNP DAX ) ( NNP Index ) ) ( PP ( IN of ) ( NP ( CD 30 ) ( JJ West ) ( JJ German ) ( JJ blue ) ( NNS chips ) ) ) ) ( VP ( VBD plunged ) ( NP-EXT ( NP ( CD 12.8 ) ( NN % ) ) ( NP ( DT a ) ( JJ one-day ) ( NN record ) ) ) ( S-ADV ( VP ( VBG wiping ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN summer ) ( POS 's ) ) ( NNS gains ) ) ) ) ) )

The DAX Index of 30 West German blue chips plunged 12.8 % a one-day record wiping out the summer 's gains


( S ( NP-SBJ ( DT The ) ( NN index ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 1385.72 ) ) ) ( ADVP ( RB down ) ( NP ( CD 203.56 ) ( NNS points ) ) ) ) )

The index closed at 1385.72 down 203.56 points


( S ( PP ( IN By ) ( NP ( NN comparison ) ) ) ( ADVP-TMP ( NP ( CD two ) ( NNS years ) ) ( RB ago ) ) ( PP-TMP ( IN on ) ( NP ( NNP Black ) ( NNP Monday ) ) ) ( NP-SBJ ( DT the ) ( JJ new ) ( NN index ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN dropped ) ( NP-EXT ( CD 9.4 ) ( NN % ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN projection ) ) ( PP ( IN by ) ( NP ( DT the ) ( NN exchange ) ) ) ) ) ) ) ) ) )

By comparison two years ago on Black Monday the new index would have dropped 9.4 % according to a projection by the exchange


( S ( NP-SBJ ( NNS Investors ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBD reacted ) ( ADVP-MNR ( RB so ) ( RB strongly ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NNP U.S. ) ( NN stock ) ( NN market ) ( NN loss ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD had ) ( NP ( NP ( JJ vivid ) ( NNS memories ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Frankfurt ) ( NN exchange ) ( POS 's ) ) ( S-NOM ( VP ( VBG losing ) ( NP ( NP ( CD 35 ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN value ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( CD 1987 ) ( NN crash ) ) ( CC and ) ( NP ( PRP$ its ) ( NN wake ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Investors may have reacted so strongly to Friday 's U.S. stock market loss because they had vivid memories of the Frankfurt exchange 's losing 35 % of its value in the 1987 crash and its wake


( S ( NP-TMP ( DT This ) ( NN time ) ) ( ADVP ( RB however ) ) ( NP-SBJ-1 ( JJ many ) ( JJ small ) ( NNS investors ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN been ) ( VP ( VBN hurt ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG acting ) ( ADVP-MNR ( RB so ) ( RB swiftly ) ) ) ) ) ) ) ) ) )

This time however many small investors may have been hurt by acting so swiftly


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( PRP They ) ) ( NP ( DT all ) ) ) ( VP ( VBD went ) ( PP-DIR ( IN in ) ( NP ( DT the ) ( JJ wrong ) ( NN direction ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Andreas ) ( NNP Insam ) ) ( NP ( NP ( DT an ) ( NN investment ) ( NN adviser ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Bank ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Liechtenstein ) ( POS 's ) ) ( NNP Frankfurt ) ( NN branch ) ) ) ) ) )

They all went in the wrong direction said Andreas Insam an investment adviser for the Bank in Liechtenstein 's Frankfurt branch


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD told ) ( NP-1 ( NNS clients ) ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( VBN selected ) ( JJ West ) ( JJ German ) ( JJ blue ) ( NNS chips ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD fell ) ( PP-EXT ( IN by ) ( NP ( QP ( RB about ) ( CD 10 ) ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said he told clients to buy selected West German blue chips after they fell by about 10 %


( S ( SBAR-TMP ( IN After ) ( S ( NP-SBJ-1 ( DT the ) ( NN opening ) ) ( VP ( VBD was ) ( VP ( VBN delayed ) ( NP-EXT ( CD 30 ) ( NNS minutes ) ) ( PP-PRP ( RB because ) ( IN of ) ( NP ( NP ( DT the ) ( NN crush ) ) ( PP ( IN of ) ( NP ( NN sell ) ( NNS orders ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NP ( NNP Frankfurt ) ( POS 's ) ) ( JJ normal ) ( JJ two-hour ) ( NN trading ) ( NN session ) ) ( VP ( VBD was ) ( VP ( VBN extended ) ( NP-EXT ( CD 75 ) ( NNS minutes ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB handle ) ( NP ( DT the ) ( JJ heavy ) ( NN volume ) ) ) ) ) ) ) )

After the opening was delayed 30 minutes because of the crush of sell orders Frankfurt 's normal two-hour trading session was extended 75 minutes to handle the heavy volume


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN beginning ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ chaotic ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Nigel ) ( NNP Longley ) ) ( NP ( NP ( DT a ) ( NN broker ) ) ( PP ( IN for ) ( NP ( NNP Commerzbank ) ( NNP AG ) ) ) ) ) )

The beginning was chaotic said Nigel Longley a broker for Commerzbank AG


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD took ) ( NP ( NP ( NNS three-quarters ) ) ( PP ( IN of ) ( NP ( DT an ) ( NN hour ) ) ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ-1 ( JJ enough ) ( NNS prices ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN worked ) ( PRT ( RP out ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( DT a ) ( NN reading ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) )

It took three-quarters of an hour before enough prices could be worked out to get a reading on the market


( S ( NP-SBJ ( NP ( JJ Institutional ) ( NNS investors ) ( CC and ) ( NNS bankers ) ) ( SBAR ( WHNP-1 ( NP ( DT many ) ) ( WHPP ( IN of ) ( WHNP ( WP whom ) ) ) ) ( S ( VP ( VBD spent ) ( NP-TMP ( NP ( DT the ) ( NN night ) ) ( ADVP ( RB before ) ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( NNS offices ) ) ) ( S-ADV ( VP ( VBG watching ) ( NP ( JJ Far ) ( JJ Eastern ) ( NNS markets ) ) ) ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB cautiously ) ( JJ optimistic ) ) ( PP-TMP ( IN after ) ( NP ( NP ( DT the ) ( JJ mild ) ( ADJP ( CD 1.8 ) ( NN % ) ) ( NN decline ) ) ( PP ( IN in ) ( NP ( NNP Tokyo ) ( NN stock ) ( NNS prices ) ) ) ) ) ) )

Institutional investors and bankers many of whom spent the night before in their offices watching Far Eastern markets were cautiously optimistic after the mild 1.8 % decline in Tokyo stock prices


( S ( NP-SBJ ( NP ( NN Everybody ) ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB still ) ) ( ADJP-PRD ( JJ confident ) ) ( PP-1 ( VBG including ) ( NP ( JJS most ) ( JJ institutional ) ( NNS investors ) ) ) ) )

Everybody was still confident including most institutional investors


( SINV ( S-TPC-3 ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( SBAR-PRP-PRD ( WHADVP-2 ( WRB why ) ) ( S ( NP-SBJ-1 ( NN everybody ) ) ( VP ( VBD was ) ( VP ( NP-ADV ( DT a ) ( RB little ) ) ( VBN surprised ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN storm ) ) ( PP ( IN of ) ( NP ( NP ( NN sell ) ( NNS orders ) ) ( PP ( IN from ) ( NP ( JJ small ) ( JJ private ) ( NNS investors ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Norbert ) ( NNP Braeuer ) ) ( NP ( NP ( DT a ) ( JJ senior ) ( NN trader ) ) ( PP ( IN for ) ( NP ( NNP Hessische ) ( NNP Landesbank ) ) ) ) ) )

That is why everybody was a little surprised by the storm of sell orders from small private investors said Norbert Braeuer a senior trader for Hessische Landesbank


( S ( S ( NP-SBJ-2 ( NP ( DT Some ) ( JJ big ) ( NNS institutions ) ) ( PP ( VBG including ) ( NP ( NNS banks ) ) ) ) ( VP ( VBD began ) ( S ( VP ( VBG picking ) ( PRT ( RP up ) ) ( NP ( JJ lower-priced ) ( NNS shares ) ) ) ) ( ADVP-TMP ( RB late ) ( NP ( NN yesterday ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-3 ( JJS most ) ( NNS investors ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB see ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( VP ( MD would ) ( VP ( VB happen ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG acting ) ) ) ) ) ) ) ) ) )

Some big institutions including banks began picking up lower-priced shares late yesterday but most investors wanted to see what would happen in New York before acting


( S ( CC But ) ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ-2 ( NNP Wall ) ( NNP Street ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB stabilize ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNS analysts ) ) ( ADVP-LOC ( RB here ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJS latest ) ( NN blow ) ) ( PP ( TO to ) ( NP ( NN investor ) ( NN confidence ) ) ) ) ( VP ( MD could ) ( VP ( VB inhibit ) ( NP ( NP ( DT a ) ( NN swift ) ( NN recovery ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNP Frankfurt ) ( NN exchange ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB already ) ) ( VP ( VBD was ) ( VP ( VBG showing ) ( NP ( NP ( NNS signs ) ) ( PP ( IN of ) ( NP ( NN weakness ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NNP DAX ) ) ( VP ( VBD had ) ( VP ( VBN slipped ) ( PP-DIR ( IN from ) ( NP ( NP ( DT a ) ( CD 1989 ) ( NN high ) ) ( PP ( IN of ) ( NP ( CD 1657.61 ) ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Sept. ) ( CD 8 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But even if Wall Street continues to stabilize analysts here say the latest blow to investor confidence could inhibit a swift recovery for the Frankfurt exchange which already was showing signs of weakness after the DAX had slipped from a 1989 high of 1657.61 on Sept. 8


( S ( NP-SBJ ( NP ( DT Some ) ) ( PP ( IN of ) ( NP ( NP ( NNP West ) ( NNP Germany ) ( POS 's ) ) ( JJS bluest ) ( NNS chips ) ) ) ) ( VP ( VBD took ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJS biggest ) ( NNS hits ) ) ) ) ) )

Some of West Germany 's bluest chips took some of the biggest hits


( S ( NP-SBJ ( NP ( NP ( DT A ) ( ADJP ( CD 16.3 ) ( NN % ) ) ( NN drop ) ) ( PP ( IN for ) ( NP ( NNP Mannesmann ) ( NNP AG ) ) ) ) ( CC and ) ( NP ( NP ( NNP Dresdner ) ( NNP Bank ) ( NNP AG ) ( POS 's ) ) ( ADJP ( CD 9.6 ) ( NN % ) ) ( NN decline ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB especially ) ( JJ problematic ) ( PP ( IN for ) ( NP ( NP ( PRP$ their ) ( JJ respective ) ( NNS boards ) ) ( SBAR ( WHNP-1 ( WHNP ( WP$ whose ) ( NNS plans ) ) ( PP ( IN for ) ( NP ( NP ( JJ major ) ( NNS rights ) ( NNS issues ) ) ( PP-TMP ( IN in ) ( NP ( NNP November ) ) ) ) ) ) ( S ( VP ( MD could ) ( ADVP-TMP ( RB now ) ) ( VP ( VB be ) ( PP-PRD ( IN in ) ( NP ( NN jeopardy ) ) ) ) ) ) ) ) ) ) ) )

A 16.3 % drop for Mannesmann AG and Dresdner Bank AG 's 9.6 % decline were especially problematic for their respective boards whose plans for major rights issues in November could now be in jeopardy


( S ( NP-SBJ ( NNP Dresdner ) ( NNP Bank ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD hoped ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( QP ( CD 1.2 ) ( CD billion ) ) ( NNS marks ) ) ( PRN ( NP ( QP ( CD 642.2 ) ( CD million ) ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG issuing ) ( NP ( QP ( CD four ) ( CD million ) ) ( NNS shares ) ) ( PP ( IN at ) ( NP ( NP ( CD 300 ) ( NNS marks ) ) ( NP-ADV ( DT each ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Dresdner Bank last month said it hoped to raise 1.2 billion marks 642.2 million by issuing four million shares at 300 marks each


( S ( ADVP ( RB Yet ) ) ( NP-SBJ ( NP ( NN yesterday ) ( POS 's ) ) ( NN market ) ) ( VP ( VBD cropped ) ( NP ( NP ( NNP Dresdner ) ( POS 's ) ) ( NN share ) ( NN price ) ) ( PP-EXT ( IN by ) ( NP ( CD 33 ) ( NNS marks ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 309 ) ( NNS marks ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( S-ADV ( VP ( VBG leaving ) ( NP ( JJ little ) ( NN incentive ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( TO to ) ( VP ( VB subscribe ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN standing ) ( NN price ) ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VBZ recovers ) ( ADVP-MNR ( RB quickly ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yet yesterday 's market cropped Dresdner 's share price by 33 marks to 309 marks a share leaving little incentive for investors to subscribe to the standing price unless the market recovers quickly


LONDON


( S ( S-ADV ( VP ( VBN Headed ) ( PP-DIR ( IN toward ) ( NP ( NP ( DT a ) ( NN record ) ( NN drop ) ) ( PP-TMP ( IN at ) ( NP ( NN midday ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP London ) ( NN stock ) ( NN market ) ) ( VP ( VBD recouped ) ( NP ( NP ( NNS two-thirds ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS losses ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN wake ) ) ( PP ( IN of ) ( NP ( NP ( NNP New ) ( NNP York ) ( POS 's ) ) ( JJ early ) ( NN rally ) ) ) ) ) ) )

Headed toward a record drop at midday the London stock market recouped two-thirds of its losses in the wake of New York 's early rally


( S ( NP-SBJ-1 ( DT The ) ( NNP Financial ) ( NNP Times-Stock ) ( NNP Exchange ) ( CD 100 ) ( NNP Share ) ( NNP Index ) ) ( VP ( VBD closed ) ( ADVP-CLR ( RB off ) ( NP ( CD 70.5 ) ( NNS points ) ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 2163.4 ) ) ( NP ( NP ( PRP$ its ) ( NN high ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN day ) ) ) ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG having ) ( VP ( VBD plunged ) ( NP ( CD 204.2 ) ( NNS points ) ) ( PP-TMP ( IN at ) ( NP ( CD 12:49 ) ( NN p.m ) ) ) ) ) ) ) ) )

The Financial Times-Stock Exchange 100 Share Index closed off 70.5 points at 2163.4 its high for the day after having plunged 204.2 points at 12:49 p.m


( S-CLF ( NP-SBJ ( PRP It ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( JJ big ) ( NNS institutions ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Norwich ) ( NNP Union ) ( NNP Insurance ) ( NNP Group ) ) ( NP ( NNP Scottish ) ( NNP Amicable ) ( NNP Investment ) ( NNP Managers ) ) ( CC and ) ( NP ( NNP Standard ) ( NNP Life ) ( NNP Assurance ) ( NNP Co. ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD spearheaded ) ( NP ( DT the ) ( NN rally ) ) ) ) ) ) )

It was big institutions such as Norwich Union Insurance Group Scottish Amicable Investment Managers and Standard Life Assurance Co. that spearheaded the rally


( S ( S-ADV ( VP ( VP ( VBN Attracted ) ( PP ( IN by ) ( NP-LGS ( JJ low ) ( NNS prices ) ) ) ) ( CC and ) ( VP ( VBN encouraged ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP New ) ( NNP York ) ( POS 's ) ) ( NN performance ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD scooped ) ( PRT ( RP up ) ) ( NP ( NNS equities ) ) ( PP-LOC ( IN across ) ( NP ( DT the ) ( NN board ) ) ) ) )

Attracted by low prices and encouraged by New York 's performance they scooped up equities across the board


( S ( NP-SBJ ( NN Volume ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 959.3 ) ( CD million ) ) ( NNS shares ) ) ( NP ( QP ( JJR more ) ( IN than ) ( JJ triple ) ) ( JJ recent ) ( NNS levels ) ) ) ) )

Volume was 959.3 million shares more than triple recent levels


PARIS


( S ( NP-SBJ ( JJ Late ) ( NN buying ) ) ( VP ( VBD gave ) ( NP ( DT the ) ( NNP Paris ) ( NNP Bourse ) ) ( NP ( DT a ) ( NN parachute ) ) ( PP-TMP ( IN after ) ( NP ( NP ( PRP$ its ) ( JJ free ) ( NN fall ) ) ( ADVP-TMP ( RB early ) ( PP ( IN in ) ( NP ( DT the ) ( NN day ) ) ) ) ) ) ) )

Late buying gave the Paris Bourse a parachute after its free fall early in the day


( S ( NP-SBJ ( DT The ) ( NNP CAC ) ( NNP General ) ( NNP Index ) ) ( VP ( VBD ended ) ( ADVP-CLR ( RB down ) ( NP ( CD 5.4 ) ( NN % ) ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 523.6 ) ) ( NP ( NP ( DT a ) ( NN drop ) ) ( PP ( IN of ) ( NP ( CD 29.6 ) ( NNS points ) ) ) ( PP-TMP ( IN from ) ( NP ( NNP Friday ) ) ) ) ) ) ) )

The CAC General Index ended down 5.4 % at 523.6 a drop of 29.6 points from Friday


( SINV ( S-TPC-2 ( NP-SBJ ( EX There ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN volatility ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN market ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN seen ) ( ADVP-TMP ( RB before ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Michel ) ( NNP Vigier ) ) ( NP ( NP ( DT a ) ( NN partner ) ) ( PP-LOC ( IN in ) ( NP ( NN brokerage ) ( NN firm ) ( NNP Cholet ) ( NNP Dupont ) ) ) ) ) )

There was a volatility in the market that I have never seen before said Michel Vigier a partner in brokerage firm Cholet Dupont


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( VBD turned ) ( ADVP-CLR ( RB around ) ) ( PP-TMP ( ADVP ( RB shortly ) ) ( IN after ) ( NP ( DT the ) ( NN opening ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( NP-PRD ( NN panic ) ( NN buying ) ) ( PP-LOC ( IN in ) ( NP ( NNP Paris ) ) ) ) )

When Wall Street turned around shortly after the opening there was panic buying in Paris


( S ( NP-SBJ ( NNS Brokers ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN news ) ) ( VP ( VBD spread ) ( SBAR-3 ( IN that ) ( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( VBD was ) ( VP ( VBG moving ) ( PRT ( RB up ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NP ( NNS traders ) ) ( SBAR ( WHNP-4 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN called ) ( S-PRP ( VP ( TO to ) ( VP ( VB place ) ( NP ( NN sell ) ( NNS orders ) ) ) ) ) ) ) ) ) ) ( VP ( VBD changed ) ( NP ( PRP$ their ) ( NN line ) ) ( PP-TMP ( IN in ) ( NP ( NN mid-conversation ) ) ) ( S-ADV ( VP ( VBG ordering ) ( NP ( NNS buys ) ) ( ADVP ( RB instead ) ) ) ) ) ) ) ) )

Brokers said that as the news spread that Wall Street was moving up traders who had called to place sell orders changed their line in mid-conversation ordering buys instead


( S ( NP-SBJ-1 ( NN Trading ) ) ( VP ( VBD was ) ( VP ( VBN driven ) ( ADVP ( RB primarily ) ) ( PP ( IN by ) ( NP-LGS ( JJ small ) ( NNS investors ) ( CC and ) ( NNS speculators ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( JJ large ) ( NNS institutions ) ) ( VP ( VBG waiting ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNS sidelines ) ) ) ( PP-TMP ( IN until ) ( ADVP ( JJ late ) ( PP ( IN in ) ( NP ( DT the ) ( NN day ) ) ) ) ) ) ) ) ) ) )

Trading was driven primarily by small investors and speculators with large institutions waiting on the sidelines until late in the day


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( VBD turned ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-2 ( DT the ) ( JJ big ) ( NNS boys ) ) ( VP ( VBD entered ) ( NP ( DT the ) ( NN market ) ) ( S-ADV ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NNS bargains ) ) ) ) ) ) )

When Wall Street turned however the big boys entered the market looking for bargains


( S ( NP-SBJ ( NNP Interspec ) ( NNP Inc. ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.4 ) ( CD million ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( JJ third ) ( NN quarter ) ) ( VP ( VBN ended ) ( NP-TMP-CLR ( NNP Aug. ) ( CD 31 ) ) ) ) ) ) ) )

Interspec Inc. reported a net loss of 2.4 million for the fiscal third quarter ended Aug. 31


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN loss ) ) ( VP ( VBD resulted ) ( PP-CLR ( IN from ) ( NP ( NP ( NN startup ) ( CC and ) ( NN introduction ) ( NNS costs ) ) ( VP ( VBN related ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ new ) ( JJ medical ) ( NN ultrasound ) ( NN equipment ) ( NN system ) ) ) ) ) ) ) ) ) ) )

It said the loss resulted from startup and introduction costs related to a new medical ultrasound equipment system


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-earlier ) ( NN quarter ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( NP ( CD 955,000 ) ) ( CC or ) ( NP ( NP ( CD 15 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the year-earlier quarter the company reported net income of 955,000 or 15 cents a share


( S ( NP-SBJ ( NP ( DT The ) ( NN manufacturer ) ) ( PP ( IN of ) ( NP ( NN ultrasound ) ( JJ diagnostic ) ( NNS systems ) ) ) ( VP ( VBN based ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Ambler ) ) ( NP ( NNP Pa. ) ) ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( JJ nine-month ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.43 ) ( CD million ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 2.71 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 44 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ nine-month ) ( NN period ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) ) ) )

The manufacturer of ultrasound diagnostic systems based in Ambler Pa. reported a nine-month net loss of 2.43 million compared with net income of 2.71 million or 44 cents a share for the nine-month period a year earlier


( S ( PP-LOC ( IN In ) ( NP ( JJ over-the-counter ) ( NN trading ) ) ) ( NP-SBJ ( NNP Interspec ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 37.5 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 4.25 ) ) ) ) )

In over-the-counter trading Interspec fell 37.5 cents to 4.25


( S ( NP-SBJ-1 ( NP ( NNP Moody ) ( POS 's ) ) ( NNP Investors ) ( NNP Service ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reduced ) ( NP ( NP ( PRP$ its ) ( NN rating ) ) ( PP ( IN on ) ( NP ( NP ( QP ( CD 281 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( JJ senior ) ( CC and ) ( VBN subordinated ) ( NN debt ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN thrift ) ( VBG holding ) ( NN company ) ) ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP C ) ) ) ( PP-DIR ( IN from ) ( NP ( NNP Ca ) ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( NNS bondholders ) ) ( VP ( MD will ) ( VP ( VB recover ) ( NP ( RB only ) ( JJ negligible ) ( NN principal ) ) ) ) ) ) ) ) ) ) ) ) )

Moody 's Investors Service Inc. said it reduced its rating on 281 million of senior and subordinated debt of this thrift holding company to C from Ca saying it believes bondholders will recover only negligible principal


( S ( NP-SBJ ( DT The ) ( NN agency ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD confirmed ) ( NP ( NP ( NNP American ) ( NNP Continental ) ( POS 's ) ) ( VBN preferred ) ( NN stock ) ( NN rating ) ) ( PP ( IN at ) ( NP ( NNP C ) ) ) ) ) ) ) )

The agency said it confirmed American Continental 's preferred stock rating at C


( S ( S ( NP-SBJ ( NP ( NP ( NNP American ) ( NNP Continental ) ( POS 's ) ) ( NN thrift ) ( NN unit ) ) ( NP ( ADJP ( NNP Los ) ( JJ Angeles-based ) ) ( NNP Lincoln ) ( NNP Savings ) ( CC & ) ( NNP Loan ) ( NNP Association ) ) ) ( VP ( VBZ is ) ( PP-PRD ( IN in ) ( NP ( NN receivership ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN parent ) ( NN company ) ) ( VP ( VBZ has ) ( VP ( VBN filed ) ( PP-CLR ( IN for ) ( NP ( NP ( NN protection ) ) ( PP ( IN from ) ( NP ( NN creditor ) ( NNS lawsuits ) ) ) ) ) ( PP-MNR ( IN under ) ( NP ( NP ( NNP Chapter ) ( CD 11 ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ federal ) ( NNP Bankruptcy ) ( NNP Code ) ) ) ) ) ) ) ) )

American Continental 's thrift unit Los Angeles-based Lincoln Savings & Loan Association is in receivership and the parent company has filed for protection from creditor lawsuits under Chapter 11 of the federal Bankruptcy Code


( NP-HLN ( NP ( NNP CENTRUST ) ( NNP SAVINGS ) ( NNP BANK ) ) ( PRN ( NP-LOC ( NNP Miami ) ) ) )

CENTRUST SAVINGS BANK Miami


( S ( NP-SBJ ( NP ( NNP Moody ) ( POS 's ) ) ( NNP Investors ) ( NNP Service ) ( NNP Inc. ) ) ( VP ( VBD downgraded ) ( NP ( NP ( PRP$ its ) ( NNS ratings ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( VBN subordinated ) ( NN debt ) ) ( PP ( IN of ) ( NP ( NNP CenTrust ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Caa ) ) ) ( PP-DIR ( IN from ) ( NP ( NNP B-3 ) ) ) ) )

Moody 's Investors Service Inc. downgraded its ratings on the subordinated debt of CenTrust to Caa from B-3


( S ( NP-SBJ ( DT The ) ( NN rating ) ( NN agency ) ) ( VP ( VP ( ADVP ( RB also ) ) ( VBD reduced ) ( NP ( NP ( DT the ) ( NNS ratings ) ) ( PP-1 ( IN for ) ( NP ( JJ long-term ) ( NNS deposits ) ) ) ) ( PP-DIR-2 ( TO to ) ( NP ( NNP B-3 ) ) ) ( PP-DIR-3 ( IN from ) ( NP ( CD Ba-3 ) ) ) ) ( CC and ) ( VP ( PP=1 ( IN for ) ( NP ( VBN preferred ) ( NN stock ) ) ) ( PP-DIR=2 ( TO to ) ( NP ( NNP Ca ) ) ) ( PP-DIR=3 ( IN from ) ( NP ( NNP Caa ) ) ) ) ) )

The rating agency also reduced the ratings for long-term deposits to B-3 from Ba-3 and for preferred stock to Ca from Caa


( S ( NP-SBJ ( DT The ) ( NN rating ) ( NN agency ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( QP ( RB about ) ( CD 85 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS securities ) ) ) ) ( VP ( VBD was ) ( VP ( VBN affected ) ) ) ) ) ) )

The rating agency said about 85 million in securities was affected


( S-2 ( NP-SBJ-1 ( DT The ) ( NNS downgrades ) ) ( VP ( VBD were ) ( VP ( VBN prompted ) ( PRN ( S ( NP-SBJ ( NNP Moody ) ( POS 's ) ) ( VP ( VBD said ) ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( DT the ) ( VBG continuing ) ( NN turmoil ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN junk ) ( NN bond ) ( NN market ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN suspension ) ) ( PP ( IN of ) ( NP ( NP ( NNS dividends ) ) ( PP ( IN on ) ( NP ( NP ( NNP CenTrust ) ( POS 's ) ) ( VBN preferred ) ( NN stock ) ) ) ) ) ) ) ) ) ) )

The downgrades were prompted Moody 's said by the continuing turmoil in the junk bond market and the suspension of dividends on CenTrust 's preferred stock


( S ( NP-SBJ ( NNP Moody ) ( POS 's ) ) ( VP ( ADVP ( RB also ) ) ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( VBN proposed ) ( NN sale ) ) ( PP ( IN of ) ( NP ( CD 63 ) ( NNP CenTrust ) ( NNS branches ) ) ) ( PP ( TO to ) ( NP ( JJ Great ) ( NNP Western ) ( NNP Bank ) ) ) ) ( VP ( MD could ) ( PRN ( SBAR-ADV ( IN if ) ( S ( VP ( VBN completed ) ) ) ) ) ( VP ( VB endanger ) ( NP ( NP ( DT the ) ( NN thrift ) ( POS 's ) ) ( NN funding ) ( CC and ) ( NN market ) ( NN position ) ) ) ) ) ) ) ) ) ) )

Moody 's also said it believed the proposed sale of 63 CenTrust branches to Great Western Bank could if completed endanger the thrift 's funding and market position


( S ( PP ( IN In ) ( NP ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB give ) ( NP ( JJ new ) ( NN momentum ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP European ) ( NNP Community ) ( NNS plans ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ single ) ( NN currency ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP EC ) ( NN government ) ( NNS leaders ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB agree ) ( S ( VP ( TO to ) ( VP ( VB set ) ( NP ( NP ( DT a ) ( NN date ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG starting ) ( NP ( NP ( JJ formal ) ( NNS talks ) ) ( PP ( IN on ) ( S-NOM ( VP ( VBG amending ) ( NP ( NP ( NP ( DT the ) ( NNP EC ) ( POS 's ) ) ( NN founding ) ( NNP Treaty ) ) ( PP ( IN of ) ( NP ( NNP Rome ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In an attempt to give new momentum to European Community plans for a single currency EC government leaders are likely to agree to set a date for starting formal talks on amending the EC 's founding Treaty of Rome


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( JJ diplomatic ) ( NNS sources ) ) ( PP-LOC ( IN in ) ( NP ( NNP Brussels ) ) ) ) ) ) ( NP-SBJ ( JJS most ) ( NNP EC ) ( NNS leaders ) ) ( VP ( VBP agree ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS talks ) ) ( VP ( VP ( MD should ) ( VP ( VB begin ) ( PP-TMP-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ second ) ( NN half ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB make ) ( NP ( NP ( DT a ) ( NN declaration ) ) ( PP ( IN on ) ( NP ( DT that ) ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT a ) ( NN summit ) ( NN meeting ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Strasbourg ) ) ( NP ( NNP France ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Dec. ) ( CD 8 ) ( CC and ) ( CD 9 ) ) ) ) ) ) ) ) ) ) ) )

According to diplomatic sources in Brussels most EC leaders agree that talks should begin in the second half of 1990 and will make a declaration on that during a summit meeting in Strasbourg France on Dec. 8 and 9


( S ( NP-SBJ ( NP ( DT The ) ( JJ only ) ( JJ strong ) ( NN opposition ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG changing ) ( NP ( DT the ) ( NNP EC ) ( NN treaty ) ) ) ) ) ) ( VP ( VBZ comes ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP British ) ( NNP Prime ) ( NNP Minister ) ( NNP Margaret ) ( NNP Thatcher ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ is ) ( VP ( VBN opposed ) ( PP ( TO to ) ( S-NOM ( VP ( VBG creating ) ( NP ( DT a ) ( JJ single ) ( NNP EC ) ( NN currency ) ) ) ) ) ) ) ) ) ) ) ) )

The only strong opposition to changing the EC treaty comes from British Prime Minister Margaret Thatcher who is opposed to creating a single EC currency


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( NN process ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG convening ) ( NP ( DT the ) ( JJ intergovernmental ) ( NN conference ) ) ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB require ) ( NP ( NN unanimity ) ) ) ) )

But the process of convening the intergovernmental conference does n't require unanimity


( S ( S-NOM-SBJ ( VP ( VBG Setting ) ( NP ( NP ( DT a ) ( NN date ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB start ) ( NP ( NN treaty ) ( NNS negotiations ) ) ) ) ) ) ) ) ) ( VP ( VP ( VBZ has ) ( NP ( DT no ) ( JJ legal ) ( NN significance ) ) ( PP ( IN in ) ( NP ( PRP itself ) ) ) ) ( CC but ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN viewed ) ( PP-CLR ( IN as ) ( NP ( DT an ) ( JJ important ) ( JJ psychological ) ( NN push ) ) ) ) ) ) ) )

Setting a date to start treaty negotiations has no legal significance in itself but could be viewed as an important psychological push


( S ( S ( NP-SBJ-2 ( NNP French ) ( NNP President ) ( NNP Francois ) ( NNP Mitterrand ) ) ( VP ( VBD fought ) ( S ( VP ( TO to ) ( VP ( VB set ) ( NP ( NP ( DT a ) ( NN date ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN conference ) ) ) ) ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NNP EC ) ( NN summit ) ) ( PP-LOC ( IN in ) ( NP ( NNP Madrid ) ) ) ( NP-TMP ( JJ last ) ( NNP June ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( DT the ) ( NN move ) ) ( VP ( VBD was ) ( VP ( VBN scuttled ) ( PP-PRP ( RB because ) ( IN of ) ( NP ( NP ( NN opposition ) ) ( PP ( IN by ) ( NP ( NP ( NNP Mrs. ) ( NNP Thatcher ) ) ( CC and ) ( NP ( NNP West ) ( NNP German ) ( NNP Chancellor ) ( NNP Helmut ) ( NNP Kohl ) ) ) ) ) ) ) ) ) )

French President Francois Mitterrand fought to set a date for the conference during the EC summit in Madrid last June but the move was scuttled because of opposition by Mrs. Thatcher and West German Chancellor Helmut Kohl


( S ( NP-SBJ ( JJ Diplomatic ) ( NNS sources ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-3 ( NNP Mr. ) ( NNP Kohl ) ) ( VP ( MD may ) ( ADVP-TMP ( RB now ) ) ( VP ( VB agree ) ( S ( VP ( TO to ) ( VP ( VB set ) ( NP ( NP ( DT a ) ( NN date ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN conference ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ clear ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ-2 ( NNP West ) ( NNP Germany ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB still ) ) ( VP ( VBN committed ) ( PP-CLR ( TO to ) ( NP ( NNP EC ) ( NN unity ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Diplomatic sources said Mr. Kohl may now agree to set a date for the conference to make it clear that West Germany is still committed to EC unity


( S ( NP-SBJ ( NP ( NNP CMS ) ( NNP Energy ) ( NNP Corp. ) ) ( NP-LOC ( NP ( NNP Jackson ) ) ( NP ( NNP Mich. ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN resumed ) ( NP ( NP ( DT the ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ common ) ( NN stock ) ) ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT a ) ( NN program ) ) ( VP ( VBN approved ) ( PP ( IN by ) ( NP-LGS ( PRP$ its ) ( NNS directors ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) ) ) ) ) ) )

CMS Energy Corp. Jackson Mich. said it has resumed the purchase of its common stock under a program approved by its directors in 1987


( S ( PP-TMP ( IN At ) ( NP ( NP ( DT the ) ( NN time ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ original ) ( NN announcement ) ) ) ) ) ( NP-SBJ ( NNP CMS ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN board ) ) ( VP ( VBD authorized ) ( NP ( NP ( DT the ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB as ) ( JJ many ) ( IN as ) ( CD five ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS shares ) ) ) ) ) ) ) ) ) ) )

At the time of the original announcement CMS said its board authorized the purchase of as many as five million of its shares


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( QP ( CD 2.6 ) ( CD million ) ) ( NNS shares ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN purchased ) ( PP-TMP ( IN since ) ( NP ( RB then ) ) ) ) ) ) ) ) ) )

A spokesman said 2.6 million shares have been purchased since then


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB buy ) ( NP ( JJ additional ) ( NNS shares ) ) ( PP-TMP ( IN from ) ( NP ( NP ( NN time ) ) ( PP ( TO to ) ( NP ( NN time ) ) ) ) ) ( PP-LOC ( PP ( IN in ) ( NP ( DT the ) ( JJ open ) ( NN market ) ) ) ( CC or ) ( PP ( IN in ) ( NP ( JJ private ) ( NNS transactions ) ) ) ) ( PP-CLR ( IN at ) ( NP ( VBG prevailing ) ( NN market ) ( NNS prices ) ) ) ) ) ) ) ) )

The company said it will buy additional shares from time to time in the open market or in private transactions at prevailing market prices


( S ( PP-LOC ( IN In ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ( NP-SBJ ( NNP CMS ) ( NNP Energy ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 34.375 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 62.5 ) ( NNS cents ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( VBG closing ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( CD 37.375 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Thursday ) ) ( PP-TMP ( IN before ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NN plunge ) ) ) ) ) ) ) ) )

In composite trading on the New York Stock Exchange CMS Energy closed at 34.375 a share down 62.5 cents from the closing price of 37.375 a share on Thursday before Friday 's plunge


( S ( NP-SBJ ( DT The ) ( NN utility ) ( NN company ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( RB about ) ( CD 82.1 ) ( CD million ) ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) )

The utility company currently has about 82.1 million shares outstanding


( S ( NP-SBJ ( NNP Morgan ) ( NNP Stanley ) ( CC & ) ( NNP Co. ) ) ( VP ( MD will ) ( VP ( VB act ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( JJ exclusive ) ( NN broker ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN repurchase ) ) ) ) ) ) ) )

Morgan Stanley & Co. will act as the exclusive broker for the repurchase


( S ( NP-SBJ ( NP ( DT A ) ( NN group ) ) ( PP ( IN of ) ( NP ( NP ( JJ institutional ) ( NNS investors ) ) ( PP-LOC ( IN in ) ( NP ( NNP Telerate ) ( NNP Inc. ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( CC & ) ( NNP Co. ) ( POS 's ) ) ( ADJP ( JJ 18-a-share ) ) ( NN offer ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ electronic ) ( JJ financial ) ( NN information ) ( NNS services ) ( NN company ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB grossly ) ( JJ inadequate ) ) ) ) ) ) )

A group of institutional investors in Telerate Inc. said that Dow Jones & Co. 's 18-a-share offer for the electronic financial information services company is grossly inadequate


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN letter ) ) ( VP ( VBN filed ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ holds ) ( NP ( NP ( QP ( RB about ) ( CD 4.5 ) ( CD million ) ) ( NNP Telerate ) ( NNS shares ) ) ( CC or ) ( NP ( NP ( QP ( RB about ) ( CD 4.7 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( S ( PP-TMP ( IN at ) ( NP ( JJ present ) ) ) ( S ( NP-SBJ ( NP ( NN none ) ) ( PP ( IN of ) ( NP ( PRP us ) ) ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( NP ( DT an ) ( NN offer ) ) ( PP ( IN for ) ( NP ( NP ( QP ( JJR less ) ( IN than ) ( CD 25 ) ) ) ( PP ( IN per ) ( NP ( NN share ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ fair ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT some ) ) ( VP ( VBP believe ) ( SBAR ( DT that ) ( S ( NP-SBJ ( CD 25 ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB too ) ( JJ low ) ) ) ) ) ) ) ) ) )

In a letter filed with the Securities and Exchange Commission the group which holds about 4.5 million Telerate shares or about 4.7 % of the shares outstanding said at present none of us believes an offer for less than 25 per share would be fair and some believe that 25 is too low


( S ( NP-SBJ-1 ( DT The ) ( NN letter ) ) ( VP ( VBD was ) ( VP ( VBN dated ) ( NP-CLR ( NNP Oct. ) ( CD 6 ) ) ) ) )

The letter was dated Oct. 6


( S ( PP-LOC ( IN In ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ( NP-SBJ ( NNP Telerate ) ( NNS shares ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( CD 18.875 ) ) ) ( ADVP ( RB down ) ( NP ( NP ( CD 75 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

In composite trading on the New York Stock Exchange Telerate shares closed yesterday at 18.875 down 75 cents a share


( S ( S ( NP-SBJ ( NP ( NNP Dow ) ( NNP Jones ) ) ( NP ( NP ( NN publisher ) ) ( PP ( IN of ) ( NP ( DT The ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN launched ) ( NP ( DT an ) ( ADJP ( ADJP ( JJ 18-a-share ) ) ( CC or ) ( ADJP ( QP ( CD 576 ) ( CD million ) ) ) ) ( NN tender ) ( NN offer ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NP ( DT the ) ( JJ remaining ) ( NNP Telerate ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Dow ) ( NNP Jones ) ) ( VP ( VBZ owns ) ( NP ( NP ( CD 67 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP Telerate ) ) ) ) ) ) )

Dow Jones publisher of The Wall Street Journal has launched an 18-a-share or 576 million tender offer to acquire the remaining Telerate shares outstanding Dow Jones owns 67 % of Telerate


( S ( NP-SBJ ( NNP Telerate ) ) ( VP ( VBZ has ) ( VP ( VBN rejected ) ( NP ( NP ( DT the ) ( NN offer ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ expires ) ( NP-TMP-CLR ( NNP Nov. ) ( CD 3 ) ) ) ) ) ) ) ) )

Telerate has rejected the offer which expires Nov. 3


( S ( NP-SBJ ( DT The ) ( NN group ) ) ( VP ( VBZ includes ) ( NP ( NP ( NP ( NNP Putnam ) ( NNP Cos. ) ) ( CC and ) ( NP ( NP ( JJ various ) ( NNS affiliates ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Boston ) ) ) ) ) ) ( NP ( NP ( NNP Wells ) ( NNP Fargo ) ( NNP Bank ) ) ( NP-LOC ( NNP San ) ( NNP Francisco ) ) ) ( NP ( NP ( DT the ) ( NNP California ) ( NNP Public ) ( NNP Employees ) ( NNP Retirement ) ( NNP System ) ) ( NP-LOC ( NP ( NNP Sacramento ) ) ( NP ( NNP Calif. ) ) ) ) ( CC and ) ( NP ( NP ( NNP T. ) ( NNP Rowe ) ( NNP Price ) ( NNP Associates ) ( NNP Inc. ) ) ( NP-LOC ( NNP Baltimore ) ) ) ) ) )

The group includes Putnam Cos. and various affiliates based in Boston Wells Fargo Bank San Francisco the California Public Employees Retirement System Sacramento Calif. and T. Rowe Price Associates Inc. Baltimore


( S ( PP-LOC ( IN Among ) ( NP ( JJ other ) ( NNS issues ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN group ) ( POS 's ) ) ( NN letter ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( NP ( VBZ concerns ) ) ( PP ( IN as ) ( PP ( TO to ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NP ( NNP Dow ) ( NNP Jones ) ( POS 's ) ) ( NN offer ) ) ( VP ( VBZ meets ) ( NP ( NP ( DT the ) ( JJ applicable ) ( NNS requirements ) ) ( PP ( IN of ) ( NP ( JJ procedural ) ( NN fairness ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Among other issues the group 's letter said it has concerns as to whether Dow Jones 's offer meets the applicable requirements of procedural fairness


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP Dow ) ( NNP Jones ) ) ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN seen ) ( NP ( NP ( DT the ) ( NN group ) ( POS 's ) ) ( NN filing ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD added ) ( S ( ADVP ( RB obviously ) ) ( NP-SBJ ( NNP Dow ) ( NNP Jones ) ) ( VP ( VBZ disagrees ) ( PP-CLR ( IN with ) ( NP ( PRP$ their ) ( NNS conclusions ) ) ) ) ) ) ) )

A spokesman for Dow Jones said he had n't seen the group 's filing but added obviously Dow Jones disagrees with their conclusions


( S ( NP-SBJ ( PRP$ Our ) ( NN offer ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( ADJP ( DT any ) ( CC and ) ( DT all ) ) ( NNS shares ) ) ( VP ( VBN tendered ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 18 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) )

Our offer is to buy any and all shares tendered at 18 a share


( S ( NP-SBJ ( NNP Arthur ) ( NNP M. ) ( NNP Goldberg ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD extended ) ( NP ( NP ( PRP$ his ) ( JJ unsolicited ) ( NN tender ) ( NN offer ) ) ( PP ( IN of ) ( NP ( NP ( NP ( CD 32 ) ) ( NP-ADV ( DT a ) ( NN share ) ( X ( NN tender ) ( NN offer ) ) ) ) ( CC or ) ( NP ( QP ( CD 154.3 ) ( CD million ) ) ) ) ) ( PP ( IN for ) ( NP ( NNP Di ) ( NNP Giorgio ) ( NNP Corp. ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NNP Nov. ) ( CD 1 ) ) ) ) ) ) ) )

Arthur M. Goldberg said he extended his unsolicited tender offer of 32 a share tender offer or 154.3 million for Di Giorgio Corp. to Nov. 1


( S ( NP-SBJ ( NP ( NNP DIG ) ( NNP Acquisition ) ( NNP Corp. ) ) ( NP ( NP ( DT the ) ( NNP New ) ( NNP Jersey ) ( NN investor ) ( POS 's ) ) ( NN acquisition ) ( NN vehicle ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN close ) ) ( PP ( IN of ) ( NP ( NN business ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ( NP-SBJ-1 ( CD 560,839 ) ( NNS shares ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN tendered ) ) ) ) ) ) ) )

DIG Acquisition Corp. the New Jersey investor 's acquisition vehicle said that as of the close of business yesterday 560,839 shares had been tendered


( S ( PP ( VBG Including ) ( NP ( NP ( DT the ) ( NN stake ) ) ( SBAR ( S ( NP-SBJ ( NNP DIG ) ) ( VP ( ADVP-TMP ( RB already ) ) ( VBD held ) ) ) ) ) ) ( NP-SBJ ( NNP DIG ) ) ( VP ( VBZ holds ) ( NP ( NP ( DT a ) ( NN total ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 25 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Di ) ( NNP Giorgio ) ( POS 's ) ) ( NNS shares ) ) ) ) ) ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( ADJP ( RB fully ) ( VBN diluted ) ) ( NN basis ) ) ) ) )

Including the stake DIG already held DIG holds a total of about 25 % of Di Giorgio 's shares on a fully diluted basis


( S ( NP-SBJ-2 ( NP ( DT The ) ( NN offer ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( ADVP ( RB also ) ) ( VBZ includes ) ( NP ( ADJP ( JJ common ) ( CC and ) ( VBN preferred ) ) ( NN stock ) ( NN purchase ) ( NNS rights ) ) ) ) ) ) ( VP ( VBD was ) ( S ( VP ( TO to ) ( VP ( VB expire ) ( NP-TMP-CLR ( JJ last ) ( NN night ) ) ( PP-TMP ( IN at ) ( NP ( NN midnight ) ) ) ) ) ) ) )

The offer which also includes common and preferred stock purchase rights was to expire last night at midnight


( S ( NP-SBJ ( DT The ) ( JJ new ) ( NN expiration ) ( NN date ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN date ) ) ( SBAR ( WHPP-2 ( IN on ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-3 ( NP ( NP ( NNP DIG ) ( POS 's ) ) ( VBG financing ) ( NNS commitments ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP total ) ( NP ( QP ( RB about ) ( CD 240 ) ( CD million ) ) ) ) ) ) ) ( VP ( VBP are ) ( S ( VP ( TO to ) ( VP ( VB expire ) ) ) ) ) ) ) ) ) )

The new expiration date is the date on which DIG 's financing commitments which total about 240 million are to expire


( S ( NP-SBJ ( NNP DIG ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP DIG ) ( NNP Holding ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Rose ) ( NNP Partners ) ( NNP L.P ) ) ) ) ) ) ) ) )

DIG is a unit of DIG Holding Corp. a unit of Rose Partners L.P


( S ( NP-SBJ ( NNP Mr. ) ( NNP Goldberg ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ sole ) ( JJ general ) ( NN partner ) ) ( PP ( IN in ) ( NP ( NNP Rose ) ( NNP Partners ) ) ) ) ) )

Mr. Goldberg is the sole general partner in Rose Partners


( S ( PP-TMP ( IN In ) ( NP ( NNP August ) ) ) ( NP-SBJ ( NP ( NNP Di ) ( NNP Giorgio ) ) ( NP ( DT a ) ( NNP San ) ( NNP Francisco ) ( NN food ) ( NNS products ) ( CC and ) ( NN building ) ( NNS materials ) ( NN marketing ) ( CC and ) ( NN distribution ) ( NN company ) ) ) ( VP ( VBD rejected ) ( NP ( NP ( NNP Mr. ) ( NNP Goldberg ) ( POS 's ) ) ( NN offer ) ) ( PP-CLR ( IN as ) ( ADJP ( JJ inadequate ) ) ) ) )

In August Di Giorgio a San Francisco food products and building materials marketing and distribution company rejected Mr. Goldberg 's offer as inadequate


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN composite ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ ( NNP Di ) ( NNP Giorgio ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 31.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 1.75 ) ) ) ) )

In New York Stock Exchange composite trading yesterday Di Giorgio closed at 31.50 a share down 1.75


( S ( S-TPC-1 ( NP-SBJ ( JJ British ) ( JJ retail ) ( NNS sales ) ( NN volume ) ) ( VP ( VP ( VBD rose ) ( NP-EXT ( DT a ) ( JJ provisional ) ( CD 0.4 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-DIR ( IN from ) ( NP-TMP ( NNP August ) ) ) ) ( CC and ) ( VP ( VBD was ) ( ADVP-PRD ( RB up ) ( NP ( CD 2.2 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP-TMP ( NNP September ) ( CD 1988 ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NNP Trade ) ( CC and ) ( NNP Industry ) ) ) ) ( VP ( VBD said ) ) )

British retail sales volume rose a provisional 0.4 % in September from August and was up 2.2 % from September 1988 the Department of Trade and Industry said