( S ( NP-SBJ ( DT The ) ( NNS projects ) ) ( VP ( VBP include ) ( NP ( NP ( NN construction ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT a ) ( ADJP ( CD 29,400 ) ( NN kilowatt ) ) ( JJ waste-to-energy ) ( NN plant ) ) ( PP ( IN for ) ( NP ( NP ( NNP Ada ) ( NNP Cogeneration ) ( NNP L.P. ) ) ( NP-LOC ( NP ( NNP Ada ) ) ( NP ( NNP Mich. ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN steam ) ( NN generating ) ( NN plant ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Ontario ) ) ( NP ( NNP Calif. ) ) ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( NP-SBJ ( NNP Zurn ) ) ( VP ( MD will ) ( VP ( VB own ) ( CC and ) ( VB operate ) ) ) ) ) ) ( CC and ) ( NP ( NP ( CD two ) ( NN waste-water ) ( NN control ) ( NNS projects ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Orange ) ( NNP County ) ) ( NP ( NNP Calif ) ) ) ) ) ) ) ) ) )

The projects include construction of a 29,400 kilowatt waste-to-energy plant for Ada Cogeneration L.P. Ada Mich. a steam generating plant at Ontario Calif. that Zurn will own and operate and two waste-water control projects in Orange County Calif


( S ( NP-SBJ ( NP ( DT THE ) ( NN STOCK ) ) ( PP ( IN of ) ( NP ( NNP Applied ) ( NNP Power ) ( NNP Inc. ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD split ) ( ADVP-CLR ( JJ 2-for-1 ) ) ( PP-TMP ( IN in ) ( NP ( NNP May ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN risen ) ( PP-TMP ( IN since ) ( NP ( NNP August ) ( CD 1988 ) ) ) ) ) )

THE STOCK of Applied Power Inc. which split 2-for-1 in May has risen since August 1988


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN edition ) ) ) ( NP-SBJ-2 ( NP ( PRP it ) ) ) ( VP ( VBD was ) ( VP ( ADVP-MNR ( RB incorrectly ) ) ( VBN stated ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN share ) ( NN price ) ) ( VP ( VBZ has ) ( VP ( VBN softened ) ( PP-TMP ( IN since ) ( NP ( NNP August ) ( CD 1988 ) ) ) ) ) ) ) ) ) )

In yesterday 's edition it was incorrectly stated that the company 's share price has softened since August 1988


( S ( NP-SBJ ( NNP Crown ) ( NNP Resources ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( DT a ) ( JJ definitive ) ( NN agreement ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NP ( DT the ) ( NNP Gold ) ( NNP Texas ) ( NNP Resources ) ( NNP Ltd. ) ( NNS shares ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( ADVP-TMP ( RB already ) ) ( VP ( JJ own ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Crown Resources Corp. said it reached a definitive agreement to acquire the Gold Texas Resources Ltd. shares it does n't already own


( S ( PP-LOC ( IN Under ) ( NP ( DT the ) ( VBN proposed ) ( NN agreement ) ) ) ( NP-SBJ ( NNP Gold ) ( NNP Texas ) ( NNS holders ) ) ( VP ( MD will ) ( VP ( VB receive ) ( NP ( CD 1.43 ) ( NNP Crown ) ( NNS shares ) ) ( PP ( IN for ) ( NP ( NP ( DT each ) ) ( PP ( IN of ) ( NP ( DT the ) ( QP ( CD 1.1 ) ( CD million ) ) ( NNP Gold ) ( NNP Texas ) ( NNS shares ) ) ) ( VP ( RB not ) ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Crown ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB already ) ) ( VP ( VBZ owns ) ( NP ( CD 65 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) )

Under the proposed agreement Gold Texas holders will receive 1.43 Crown shares for each of the 1.1 million Gold Texas shares not owned by Crown which already owns 65 %


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN arrangement ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NN approval ) ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( PP ( IN of ) ( NP ( NNP British ) ( NNP Columbia ) ( NN province ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Crown ) ) ( VP ( VBD said ) ) )

The arrangement is subject to approval by the Supreme Court of British Columbia province Crown said


( S ( S ( NP-SBJ-1 ( NNP Gold ) ( NNP Texas ) ) ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Vancouver ) ) ( NP ( NNP British ) ( NNP Columbia ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( NNP Crown ) ( NNP Resources ) ) ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Denver ) ) ) ) ) ) )

Gold Texas is based in Vancouver British Columbia and Crown Resources is based in Denver


( S ( NP-SBJ ( DT Both ) ) ( VP ( VBP are ) ( NP-PRD ( NN mining ) ( NNS concerns ) ) ) )

Both are mining concerns


( S ( NP-SBJ ( NNP NCNB ) ( NNP Corp. ) ) ( VP ( VBD raised ) ( NP ( NP ( QP ( CD 1 ) ( CD billion ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ new ) ( NN capital ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) )

NCNB Corp. raised 1 billion in new capital during the third quarter


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN edition ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NN amount ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NN capital ) ) ) ) ( VP ( VBD was ) ( VP ( VBN misstated ) ) ) )

In yesterday 's edition the amount of new capital was misstated


( S ( NP-SBJ ( NNP Ethyl ) ( NNP Corp. ) ) ( VP ( VBD reported ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 12 ) ( NN % ) ) ( PP-DIR ( IN from ) ( NP ( DT a ) ( JJ year-earlier ) ( NN quarter ) ) ) ( S-ADV ( VP ( VBN helped ) ( PP-LGS ( IN by ) ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN from ) ( NP ( VBN discontinued ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) )

Ethyl Corp. reported that third-quarter net income fell 12 % from a year-earlier quarter helped by a gain from discontinued operations


( S ( NP-SBJ ( NP ( NN Profit ) ) ( PP ( IN from ) ( NP ( VBG continuing ) ( NNS operations ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 19 ) ( NN % ) ) ) )

Profit from continuing operations rose 19 %


( S ( NP-SBJ ( DT The ) ( NNS chemicals ) ( CC and ) ( NN insurance ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NN net ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 54.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 45 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) )

The chemicals and insurance company said net in the latest quarter was 54.8 million or 45 cents a share


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-earlier ) ( NN quarter ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 62.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 51 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

In the year-earlier quarter net was 62.2 million or 51 cents a share


( S ( NP-SBJ ( DT The ) ( JJ previous-year ) ( NN quarter ) ) ( VP ( VBD included ) ( NP ( NP ( QP ( CD 16.1 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( NP ( NNS businesses ) ) ( VP ( VBN spun ) ( PRT ( RP off ) ) ( PP-CLR ( IN as ) ( NP ( NNP Tredegar ) ( NNP Industries ) ( NNP Inc ) ) ) ) ) ) ) ) )

The previous-year quarter included 16.1 million from businesses spun off as Tredegar Industries Inc


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( CD 613.7 ) ( CD million ) ) ) ( ADVP ( RB up ) ( NP ( CD 18 ) ( NN % ) ) ( PP ( IN from ) ( NP ( QP ( CD 521.2 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) )

Revenue was 613.7 million up 18 % from 521.2 million a year ago


( S ( NP-SBJ ( NNP Ethyl ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( JJ pretax ) ( NN profit ) ) ( PP ( IN from ) ( NP ( PRP$ its ) ( NN insurance ) ( NN segment ) ) ) ) ( PP ( VBG excluding ) ( NP ( NN investment ) ( NNS gains ) ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( CD 28 ) ( NN % ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 28.6 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 22.4 ) ( CD million ) ) ) ) ) ) ) ) )

Ethyl said pretax profit from its insurance segment excluding investment gains rose 28 % in the latest quarter to 28.6 million from 22.4 million


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNS chemicals ) ( NN segment ) ) ) ( NP-SBJ ( JJ pretax ) ( NN profit ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 7 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 69.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 64.9 ) ( CD million ) ) ) ) ) )

In the chemicals segment pretax profit rose 7 % to 69.2 million from 64.9 million


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ( POS 's ) ) ( NNS chemicals ) ( NNS interests ) ) ( VP ( VBP include ) ( PP-LOC ( IN among ) ( NP ( JJ other ) ( NNS things ) ) ) ( NP ( NP ( NN petroleum ) ( NNS additives ) ) ( NP ( NNS pharmaceuticals ) ( NNS ingredients ) ) ( CC and ) ( NP ( NP ( NN polysilicon ) ) ( VP ( VBN used ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN semiconductor ) ( NN industry ) ) ) ) ) ) ) )

The company 's chemicals interests include among other things petroleum additives pharmaceuticals ingredients and polysilicon used by the semiconductor industry


( S ( PP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Ethyl ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 2 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 168.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.40 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 172.2 ) ( CD million ) ) ) ( NP ( NP ( CD 1.42 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) ) ) )

For the nine months Ethyl said net fell 2 % to 168.7 million or 1.40 a share from 172.2 million 1.42 a share a year ago


( S ( NP-SBJ ( NP ( NN Net ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN period ) ) ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( QP ( CD 11.9 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( VBN discontinued ) ( NNS operations ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 6.2 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( DT a ) ( NN plant ) ( NN closing ) ) ) ) ) ) ) ) )

Net in the latest period included 11.9 million from discontinued operations and a charge of 6.2 million from a plant closing


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-ago ) ( NN period ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD included ) ( NP ( NP ( QP ( CD 32.7 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( VBN discontinued ) ( NNS operations ) ) ) ) ) )

In the year-ago period net included 32.7 million from discontinued operations


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( CD 1.79 ) ( CD billion ) ) ) ( ADVP ( RB up ) ( NP ( CD 18 ) ( NN % ) ) ( PP ( IN from ) ( NP ( QP ( CD 1.52 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) )

Revenue was 1.79 billion up 18 % from 1.52 billion a year earlier


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Ethyl ) ) ( VP ( VBN closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 25.875 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB up ) ( NP ( CD 12.5 ) ( NNS cents ) ) ) ) )

In New York Stock Exchange composite trading Ethyl closed at 25.875 a share up 12.5 cents


( S ( NP-SBJ ( NP ( NNP Dale ) ( NNP Lang ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( NP-TMP ( DT this ) ( NN week ) ) ( VP ( VBD completed ) ( NP ( NP ( DT the ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN publisher ) ) ( PP ( IN of ) ( NP ( NNP Ms. ) ( CC and ) ( NNP Sassy ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ candid ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN challenge ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( PRT ( RP on ) ) ) ) ) ) ) ) ) ) )

Dale Lang who this week completed the acquisition of the publisher of Ms. and Sassy is candid about the challenge he is taking on


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ admits ) ( SBAR ( SBAR ( DT that ) ( S ( NP-SBJ ( NNP Ms. ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN in ) ( NP ( JJ dire ) ( NNS straits ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Sassy ) ) ( VP ( VBZ needs ) ( NP ( NP ( JJ big ) ( JJ promotional ) ( NNS dollars ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( PRP it ) ) ( ADJP-PRD ( JJ alive ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lang admits that Ms. is in dire straits and that Sassy needs big promotional dollars to keep it alive


( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( JJ 57-year-old ) ( NN publisher ) ) ( VP ( VBZ has ) ( VP ( VBN moved ) ( ADVP-MNR ( RB quickly ) ( CC and ) ( RB boldly ) ) ( S ( VP ( TO to ) ( VP ( VB deal ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NNS magazines ) ( POS ' ) ) ( NNS problems ) ) ) ) ) ) ) ) )

But the 57-year-old publisher has moved quickly and boldly to deal with the magazines ' problems


( S ( NP-TMP ( JJ Last ) ( NNP Friday ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD told ) ( NP ( NP ( DT the ) ( NN staff ) ) ( PP ( IN of ) ( NP ( NNP Ms. ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN magazine ) ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ) ) ( VP ( MD would ) ( VP ( VB begin ) ( S ( VP ( VBG publishing ) ( PP ( IN without ) ( NP ( NN advertising ) ) ) ) ) ) ) ) ) ) )

Last Friday he told the staff of Ms. that the magazine in January would begin publishing without advertising


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Lang ) ) ( VP ( MD will ) ( VP ( VP ( VB do ) ( PRT ( RP away ) ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ expensive ) ( NN circulation ) ( VBZ drives ) ) ( PRN ( S ( RB not ) ( VP ( TO to ) ( VP ( VB mention ) ( NP ( NNS sales ) ( NN staff ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VB attempt ) ( S ( VP ( TO to ) ( VP ( VB publish ) ( NP ( DT the ) ( JJ 17-year-old ) ( NN magazine ) ) ( S-ADV ( VP ( VBN supported ) ( PP-LGS ( IN by ) ( NP ( NP ( NN circulation ) ( NN revenue ) ) ( ADVP ( RB alone ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lang will do away with expensive circulation drives not to mention sales staff and attempt to publish the 17-year-old magazine supported by circulation revenue alone


( S ( NP-SBJ ( DT Any ) ( NN fool ) ) ( VP ( MD can ) ( VP ( VB publish ) ( NP ( DT a ) ( JJ money-losing ) ( NN magazine ) ) ) ) )

Any fool can publish a money-losing magazine


( SINV ( S-TPC-3 ( NP-SBJ-2 ( PRP I ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB publish ) ( NP ( NP ( NN one ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ succeeds ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) )

I want to publish one that succeeds said Mr. Lang


( S ( PP ( IN For ) ( NP ( NNP Ms. ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB publish ) ( PP-PRP ( IN for ) ( NP ( NP ( DT the ) ( NN reader ) ) ( RB not ) ( NP ( DT the ) ( NN advertiser ) ) ) ) ) ) ) ) ) ) )

For Ms. it 's time to publish for the reader not the advertiser


( S ( PP ( IN As ) ( PP ( IN for ) ( NP ( NP ( NNP Sassy ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ competes ) ( ADVP-MNR ( RB directly ) ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP News ) ( NNP Corp. ) ( POS 's ) ) ( NNP Seventeen ) ( NN magazine ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ next ) ( CD two ) ( NNS years ) ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( MD will ) ( VP ( VB spend ) ( NP ( QP ( CD 6 ) ( CD million ) ) ) ( S-CLR ( VP ( VBG promoting ) ( CC and ) ( VBG improving ) ( NP ( DT the ) ( NN magazine ) ) ) ) ) ) ) ) ) )

As for Sassy which competes directly with News Corp. 's Seventeen magazine Mr. Lang says that in the next two years he will spend 6 million promoting and improving the magazine


( S ( SBAR-ADV ( NNP Though ) ( S ( NP-SBJ ( NNP Sassy ) ) ( VP ( VBZ has ) ( VP ( VBN grown ) ( ADVP-MNR ( RB quickly ) ) ( PP-TMP ( IN since ) ( NP ( NP ( PRP$ its ) ( NN debut ) ) ( PP-TMP ( IN in ) ( NP ( NNP March ) ( CD 1988 ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( NN target ) ) ( PP ( IN of ) ( NP ( NP ( NP ( JJ conservative ) ( NNS lobbyists ) ) ( CC and ) ( NP ( JJ skittish ) ( NNS advertisers ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD bristled ) ( PP-CLR ( IN at ) ( NP ( NP ( PRP$ its ) ( JJ frank ) ( JJ editorial ) ( NN matter ) ) ( PP ( IN on ) ( NP ( JJ teen-age ) ( NNS problems ) ) ) ) ) ) ) ) ) ) ) ) ) )

Though Sassy has grown quickly since its debut in March 1988 it has been the target of conservative lobbyists and skittish advertisers who bristled at its frank editorial matter on teen-age problems


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ former ) ( JJ Australian ) ( NNS owners ) ) ( PP ( IN of ) ( NP ( NNP Sassy ) ) ) ) ( VP ( VBD were ) ( VP ( JJ blind-sided ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Moral ) ( NNP Majority ) ) ) ) ) ) ) ) )

Mr. Lang said the former Australian owners of Sassy were blind-sided by the Moral Majority


( S ( NP-SBJ-1 ( PRP$ Their ) ( NN reaction ) ) ( VP ( VBD was ) ( S-PRD ( VP ( TO to ) ( VP ( VP ( VB do ) ( NP ( NN nothing ) ) ) ( CC and ) ( VP ( VB ride ) ( NP ( PRP it ) ) ( PRT ( RP out ) ) ) ) ) ) ) )

Their reaction was to do nothing and ride it out


( S ( NP-SBJ ( PRP He ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Sassy ) ) ( VP ( MD will ) ( VP ( VB keep ) ( NP ( PRP$ its ) ( JJ irreverent ) ( NN tone ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD added ) ( S ( NP-SBJ ( PRP We ) ) ( VP ( MD will ) ( VP ( VB keep ) ( NP-CLR ( DT a ) ( JJ close ) ( NN watch ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( JJ editorial ) ( NN content ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN magazine ) ) ) ) ) ) ) ) ) ) )

He said Sassy will keep its irreverent tone but added We will keep a close watch on the editorial content of the magazine


( S ( S ( NP-SBJ ( NNP Sassy ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBZ has ) ( VP ( VBN recovered ) ) ) ) ( S ( S ( NP-SBJ ( NN circulation ) ) ( VP ( VBZ has ) ( ADVP-MNR ( RB quickly ) ) ( VP ( VBN passed ) ( NP ( DT the ) ( CD 500,000 ) ( NN mark ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN advertising ) ( NNS pages ) ) ( VP ( VBP have ) ( VP ( VBN stabilized ) ( NP-TMP ( DT this ) ( NN year ) ) ( PP-CLR ( IN at ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 300 ) ) ) ) ) ) ) ) )

Sassy already has recovered circulation has quickly passed the 500,000 mark and advertising pages have stabilized this year at more than 300


( S ( SBAR-ADV ( WHNP-1 ( WP What ) ) ( S ( VP ( VBZ 's ) ( ADJP-PRD ( JJR more ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( DT all ) ( NNS publishers ) ) ( VP ( VBP wish ) ( PP-CLR ( IN for ) ) ) ) ) ( NP ( DT a ) ( ADJP ( JJ bona ) ( JJ fide ) ) ( NN niche ) ) ) ) ) ) ) )

What 's more Mr. Lang says he has what all publishers wish for a bona fide niche


( SINV ( S-TPC-1 ( NP-SBJ-2 ( NNP Seventeen ) ) ( VP ( VBZ is ) ( VP ( VBN written ) ( PP-PRP ( ADVP ( RBR more ) ) ( IN for ) ( NP ( NP ( NNS mothers ) ) ( RB not ) ( NP ( PRP$ their ) ( NNS daughters ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) )

Seventeen is written more for mothers not their daughters said Mr. Lang


( S ( CC But ) ( NP-SBJ ( NNP Sassy ) ) ( VP ( VBZ has ) ( NP ( DT a ) ( JJ different ) ( NN spirit ) ) ) )

But Sassy has a different spirit


( S ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ gets ) ( NP ( NP ( JJR more ) ( NN mail ) ) ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( NN month ) ) ) ( SBAR-1 ( IN than ) ( S ( NP-SBJ ( NNP McCall ) ( POS 's ) ) ( VP ( VBD got ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( RB not ) ( PP-PRD ( IN from ) ( NP ( NNS mothers ) ) ) ) ) )

It gets more mail in a month than McCall 's got in a year and it 's not from mothers


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP feel ) ( PP-CLR ( IN about ) ( NP ( NNP Sassy ) ) ) ( SBAR-MNR ( IN like ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD did ) ( VP ( PP-CLR ( IN about ) ( NP ( NNP Working ) ( NNP Woman ) ) ) ( ADVP-TMP ( NP ( CD 10 ) ( NNS years ) ) ( RB ago ) ) ) ) ) ) ) )

I feel about Sassy like I did about Working Woman 10 years ago


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBD took ) ( PRT ( RP on ) ) ( NP ( NNP Ms. ) ( CC and ) ( NNP Sassy ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Matilda ) ( NNP Publications ) ( NNP Inc. ) ) ) ( PP ( IN by ) ( NP ( PRP$ his ) ( ADJP ( RB newly ) ( VBN formed ) ) ( NNP Lang ) ( NNP Communications ) ) ) ) ) ) )

Mr. Lang took on Ms. and Sassy with the acquisition of Matilda Publications Inc. by his newly formed Lang Communications


( S ( NP-SBJ ( NNP Lang ) ) ( VP ( VBZ owns ) ( NP ( NP ( CD 70 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP Matilda ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Citicorp ) ) ( VP ( VBZ owns ) ( NP ( DT the ) ( NN rest ) ) ( PP ( IN through ) ( NP ( PRP$ its ) ( NNP Citicorp ) ( NNP Venture ) ( NNP Capital ) ( NNP Partners ) ) ) ) ) ) ) )

Lang owns 70 % of Matilda while Citicorp owns the rest through its Citicorp Venture Capital Partners


( S ( ADVP-TMP ( NP ( CD Two ) ( NNS weeks ) ) ( RB ago ) ) ( NP-SBJ-1 ( NP ( NNP Citicorp ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Lang ) ) ) ( VP ( VBD pumped ) ( NP ( CD 800,000 ) ) ( PP-DIR ( IN into ) ( NP ( NNP Matilda ) ) ) ( S-PRP ( ADVP ( RB just ) ) ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( DT the ) ( NNS doors ) ) ( ADJP-PRD ( JJ open ) ) ) ) ) ) ) )

Two weeks ago Citicorp and Mr. Lang pumped 800,000 into Matilda just to keep the doors open


( S ( S ( NP-SBJ ( NN Industry ) ( NNS observers ) ) ( VP ( VBP have ) ( VP ( VBN congratulated ) ( NP ( NNP Mr. ) ( NNP Lang ) ) ( PP ( IN on ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT some ) ) ( VP ( VB call ) ( S ( NP-PRD ( NP ( PRP$ his ) ( JJ courageous ) ( NN handling ) ) ( PP ( IN of ) ( NP ( NNP Ms. ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN track ) ( NN record ) ) ( PP-LOC ( IN in ) ( NP ( NN magazine ) ( NN publishing ) ) ) ( PP ( IN in ) ( ADJP ( JJ general ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN gotten ) ( NP ( JJ mixed ) ( NNS reviews ) ) ) ) ) )

Industry observers have congratulated Mr. Lang on what some call his courageous handling of Ms. but his track record in magazine publishing in general has gotten mixed reviews


( S ( PP ( IN Besides ) ( NP ( NNP Ms. ) ( CC and ) ( NNP Sassy ) ) ) ( NP-SBJ ( ADJP ( RB closely ) ( VBN held ) ) ( NNP Lang ) ( NNP Communications ) ) ( VP ( VBZ includes ) ( NP ( NP ( NP ( NNP Success ) ) ( NP ( NP ( DT a ) ( NN magazine ) ) ( PP ( IN for ) ( NP ( NP ( NNS entrepreneurs ) ) ( CC and ) ( NP ( JJ small ) ( NNS businesses ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( NNP Working ) ( NNP Woman ) ) ( CC and ) ( NP ( NNP Working ) ( NNP Mother ) ) ) ( NP ( CD two ) ( JJ monthly ) ( NNS magazines ) ) ) ) ) )

Besides Ms. and Sassy closely held Lang Communications includes Success a magazine for entrepreneurs and small businesses and Working Woman and Working Mother two monthly magazines


( S ( NP-SBJ ( NP ( NP ( NNP Working ) ( NNP Woman ) ) ( PP ( IN with ) ( NP ( NP ( NN circulation ) ) ( PP ( IN near ) ( NP ( QP ( CD one ) ( CD million ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Working ) ( NNP Mother ) ) ( PP ( IN with ) ( NP ( CD 625,000 ) ( NN circulation ) ) ) ) ) ( VP ( VBP are ) ( NP-PRD ( JJ legitimate ) ( NN magazine ) ( NN success ) ( NNS stories ) ) ) )

Working Woman with circulation near one million and Working Mother with 625,000 circulation are legitimate magazine success stories


( S ( NP-SBJ ( DT The ) ( NN magazine ) ( NNP Success ) ) ( ADVP ( RB however ) ) ( VP ( VBD was ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ( ADJP-PRD ( JJ lackluster ) ( CC and ) ( JJ unfocused ) ) ) )

The magazine Success however was for years lackluster and unfocused


( SINV ( ADVP-TMP ( RB Only ) ( RB recently ) ) ( SINV ( VBZ has ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBN been ) ( VP-3 ( ADVP-MNR ( RB attractively ) ) ( VBN redesigned ) ) ) ) ( CC and ) ( SINV ( NP-SBJ=1-2 ( PRP$ its ) ( JJ editorial ) ( NN product ) ) ( VP=3 ( VBN improved ) ) ) )

Only recently has it been attractively redesigned and its editorial product improved


( S ( NP-SBJ-1 ( NNP Success ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB gain ) ) ) ) ( PP-PRP ( ADVP ( IN at ) ( JJS least ) ) ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( JJ recent ) ( NN folding ) ) ( PP ( IN of ) ( NP ( NP ( JJ rival ) ( NNP Venture ) ) ( NP ( NP ( DT another ) ( NN magazine ) ) ( PP ( IN for ) ( NP ( VBG growing ) ( NNS companies ) ) ) ) ) ) ) ) ) ) )

Success is expected to gain at least because of the recent folding of rival Venture another magazine for growing companies


( S ( NP-SBJ ( NP ( NNP Working ) ( NNP Woman ) ) ( CC and ) ( NP ( NNP Working ) ( NNP Mother ) ) ) ( VP ( VBP have ) ( VP ( VBN operated ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Working ) ( NNP Woman\/McCall ) ( POS 's ) ) ( NNP Group ) ) ( NP ( NP ( DT a ) ( JJ less-than-successful ) ( JJ joint ) ( NN venture ) ) ( PP ( IN between ) ( NP ( NP ( NNP Mr. ) ( NNP Lang ) ) ( CC and ) ( NP ( NN Time ) ( NNP Warner ) ( NNP Inc ) ) ) ) ) ) ) ) ) ) ) )

Working Woman and Working Mother have operated as part of Working Woman\/McCall 's Group a less-than-successful joint venture between Mr. Lang and Time Warner Inc


( S ( NP-SBJ-1 ( DT The ) ( JJ joint ) ( NN venture ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN undone ) ( PP ( IN with ) ( S-NOM ( S ( NP-SBJ-2 ( NP ( NNP McCall ) ( POS 's ) ) ( NN magazine ) ) ( VP ( VBG being ) ( VP ( VBN sold ) ( NP-TMP ( JJ last ) ( NN summer ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Times ) ( NNP Co. ) ( POS 's ) ) ( NNP Magazine ) ( NNP Group ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( RB about ) ( CD 80 ) ( CD million ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-3 ( NN Time ) ( NNP Warner ) ) ( VP ( VBG agreeing ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( PRT ( RP back ) ) ( NP ( NP ( PRP$ its ) ( ADJP ( CD 50 ) ( NN % ) ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Working ) ( NNP Woman ) ) ( CC and ) ( NP ( NNP Working ) ( NNP Mother ) ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP Mr. ) ( NNP Lang ) ) ) ) ) ) ) ) ) ) ) ) ) )

The joint venture is being undone with McCall 's magazine being sold last summer to the New York Times Co. 's Magazine Group for about 80 million and Time Warner agreeing to sell back its 50 % interest in Working Woman and Working Mother to Mr. Lang


( S ( NP-SBJ ( NP ( NNS Executives ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Time ) ( NNP Inc ) ( NNP Magazine ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( PP ( IN of ) ( NP ( NNP Time ) ( NNP Warner ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ joint ) ( NN venture ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Lang ) ) ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( DT a ) ( JJ good ) ( CD one ) ) ) ) ) ) ) )

Executives at Time Inc Magazine Co. a subsidiary of Time Warner have said the joint venture with Mr. Lang was n't a good one


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN venture ) ) ( VP ( VBN formed ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN supposed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( NP ( NNP Time ) ( POS 's ) ) ( JJ low-cost ) ( JJ safe ) ( NN entry ) ) ( PP ( IN into ) ( NP ( NP ( NNS women ) ( POS 's ) ) ( NNS magazines ) ) ) ) ) ) ) ) ) )

The venture formed in 1986 was supposed to be Time 's low-cost safe entry into women 's magazines


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBD surprised ) ( NP ( NNP Time ) ) ( PP-TMP ( ADVP ( RB soon ) ) ( IN after ) ( S-NOM ( VP ( VBG joining ) ( NP ( NNS forces ) ) ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VP ( VB negotiate ) ( NP ( NNS rates ) ) ( ADVP-MNR ( RB individually ) ) ( PP ( IN with ) ( NP ( NNS advertisers ) ) ) ) ( NP-ADV ( NP ( DT a ) ( NN practice ) ) ( UCP ( ADJP ( JJ common ) ( PP ( IN in ) ( NP ( NN broadcasting ) ) ) ) ( CC but ) ( VP ( VBN considered ) ( S ( NP-PRD ( NN taboo ) ) ) ( PP ( IN by ) ( NP-LGS ( NN magazine ) ( NNS publishers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lang surprised Time soon after joining forces when he said he would negotiate rates individually with advertisers a practice common in broadcasting but considered taboo by magazine publishers


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NNP McCall ) ( POS 's ) ) ( VP ( VBD put ) ( PRT ( RP in ) ) ( NP ( DT a ) ( ADJP ( RBR less ) ( IN than ) ( JJ stellar ) ) ( NN performance ) ) ) )

In addition McCall 's put in a less than stellar performance


( S ( PP-TMP ( IN Until ) ( NP ( DT a ) ( JJ recent ) ( NN comeback ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD saw ) ( NP ( NP ( JJ steep ) ( NNS losses ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN ad ) ( NNS pages ) ) ( CC and ) ( NP ( NN circulation ) ) ) ) ) ) )

Until a recent comeback it saw steep losses in ad pages and circulation


( S ( S ( NP-SBJ ( NNP Time ) ( NNS executives ) ) ( VP ( VBD complained ) ( PP-CLR ( IN about ) ( NP ( DT the ) ( JJ shoddy ) ( JJ editorial ) ( NN quality ) ) ) ) ) ( CC and ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN end ) ) ) ( NP-SBJ ( NP ( CD one ) ( NNP Time ) ( NN executive ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD asked ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN identified ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( S ( ADVP ( RB Frankly ) ) ( NP-SBJ ( NP ( NNP McCall ) ( POS 's ) ) ( CC and ) ( NP ( DT the ) ( JJ joint ) ( NN venture ) ) ) ( VP ( VBD were ) ( NP-PRD ( DT an ) ( NN embarrassment ) ) ) ) ) ) )

Time executives complained about the shoddy editorial quality and in the end one Time executive who asked not to be identified said Frankly McCall 's and the joint venture were an embarrassment


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ feels ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NNP Time ) ( POS 's ) ) ( NNS priorities ) ) ( VP ( VBD changed ) ) ) ) ) )

Mr. Lang feels that Time 's priorities changed


( S ( S ( NP-SBJ ( PRP$ Their ) ( NN management ) ) ( VP ( VBD changed ) ( SBAR-TMP ( ADVP ( RB right ) ) ( IN after ) ( PRN ( S ( NP-SBJ-1 ( DT the ) ( NN venture ) ) ( VP ( VBD was ) ( VP ( VBN formed ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ comfortable ) ) ( S-ADV ( VP ( VBG getting ) ( PP-DIR ( IN into ) ( NP ( NP ( DT the ) ( JJ competitive ) ( NNS wars ) ) ( PP ( IN of ) ( NP ( NP ( NNS women ) ( POS 's ) ) ( NN service ) ( NNS magazines ) ) ) ) ) ) ) ) ) ) ) ) ) )

Their management changed right after the venture was formed and I do n't think they were comfortable getting into the competitive wars of women 's service magazines


( S ( NP-TMP ( NN Today ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( PRP$ his ) ( NNS magazines ) ) ( VP ( MD will ) ( VP ( VB offer ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NP ( JJ many ) ( NNS women ) ( POS 's ) ) ( NNS magazines ) ) ( VP ( VBP do ) ( RB n't ) ) ) ) ) ) ) ) ) )

Today Mr. Lang believes his magazines will offer what many women 's magazines do n't


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP write ) ( ADVP-MNR ( RB straight ) ) ( PP-PRP ( IN for ) ( NP ( NNS women ) ) ) ( PP-LOC ( IN on ) ( NP ( PRP$ their ) ( NN level ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

We write straight for women on their level he said


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB have ) ( NP ( JJ passive ) ( NNS readers ) ) ) ) )

We do n't have passive readers


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ points ) ( PRT ( RP out ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( RB even ) ( NNP Success ) ) ( PRN ( PP ( IN in ) ( NP ( NN part ) ) ) ) ( VP ( VBZ fits ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN image ) ) ( SBAR-PRP ( IN since ) ( S ( NP-SBJ ( NP ( QP ( RB about ) ( CD 30 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN readership ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ female ) ) ) ) ) ) ) ) ) )

Mr. Lang points out that even Success in part fits the company 's image since about 30 % of its readership is female


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ has ) ( VP ( VBN named ) ( NP ( NP ( NNP Carol ) ( NNP Taber ) ) ( NP ( CD 43 ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NN group ) ( NN publisher ) ) ( PP ( IN of ) ( NP ( ADJP ( NNP New ) ( JJ York-based ) ) ( NNP Lang ) ( NNP Communications ) ) ) ) ) ) ) )

Mr. Lang has named Carol Taber 43 as group publisher of New York-based Lang Communications


( S ( NP-SBJ ( PRP She ) ) ( VP ( MD will ) ( VP ( VP ( VB oversee ) ( NP ( NP ( NNP Working ) ( NNP Woman ) ) ( NP ( NNP Working ) ( NNP Mother ) ) ( CC and ) ( NP ( NNP Success ) ( NNS magazines ) ) ) ) ( CC and ) ( VP ( VB retain ) ( NP ( NP ( PRP her ) ( NN post ) ) ( PP ( IN as ) ( NP ( NP ( NN publisher ) ) ( PP ( IN of ) ( NP ( NNP Working ) ( NNP Woman ) ) ) ) ) ) ) ) ) )

She will oversee Working Woman Working Mother and Success magazines and retain her post as publisher of Working Woman


( S ( NP-SBJ ( NP ( DT The ) ( NN sale ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( NNP McCall ) ( POS 's ) ) ) ) ( PRN ( ADVP ( RB twice ) ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( ADVP-TMP ( RB originally ) ) ( VP ( VBD paid ) ( PP-PRP ( IN for ) ( NP ( PRP it ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB finance ) ( NP ( NP ( NP ( NNP Lang ) ( NNP Communications ) ( POS ' ) ) ( NN buy-back ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Time ) ( NNP Warner ) ( POS 's ) ) ( ADJP ( CD 50 ) ( NN % ) ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Working ) ( NNP Woman ) ) ( CC and ) ( NP ( NNP Working ) ( NNP Mother ) ) ) ) ) ) ) ) ) )

The sale price of McCall 's twice what Mr. Lang originally paid for it will finance Lang Communications ' buy-back of Time Warner 's 50 % interest in Working Woman and Working Mother


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG scouting ) ( NP ( JJ new ) ( NNS acquisitions ) ) ( PP-TMP ( ADVP ( IN at ) ( JJS least ) ) ( IN for ) ( NP ( RB now ) ) ) ) ) ) ) ) )

Mr. Lang says he is n't scouting new acquisitions at least for now


( S ( S-TPC-1 ( S ( NP-SBJ-2 ( PRP We ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB go ) ( ADVP-CLR ( RB outside ) ) ( PP-DIR ( TO to ) ( NP ( NNS banks ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB get ) ( NP ( DT the ) ( NN money ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-3 ( PRP I ) ) ( VP ( VBP am ) ( RB not ) ( ADJP-PRD ( JJ ready ) ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( DT that ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

We would have to go outside to banks to get the money and I am not ready to do that he said


( S ( ADVP ( RB Besides ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( NP ( NN enough ) ) ( PP-LOC ( IN on ) ( NP ( PRP$ our ) ( NN plate ) ) ) ) )

Besides we have enough on our plate


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN plenty ) ) ( PP ( IN of ) ( NP ( NN work ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN done ) ( PP-LOC ( IN on ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ) ) ) ) ) ) ) ) ) ) ) )

There is plenty of work to be done on what we have


( S ( NP-SBJ ( NNP Ashton-Tate ) ( NNP Corp. ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 19.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 74 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN burdened ) ( PP ( IN by ) ( NP-LGS ( NP ( NN severance ) ( NNS costs ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN expense ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG upgrading ) ( NP ( PRP$ its ) ( NN database ) ( NN software ) ( NNS inventories ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Ashton-Tate Corp. reported a net loss of 19.4 million or 74 cents a share for the third quarter which was burdened by severance costs and the expense of upgrading its database software inventories


( S ( NP-SBJ ( DT The ) ( NN software ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN revenue ) ) ( VP ( VBD slid ) ( NP-EXT ( CD 28 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 53.9 ) ( CD million ) ) ) ) ) ) ) ) )

The software company said revenue slid 28 % to 53.9 million


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ contrasts ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( JJ year-ago ) ( NN quarter ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD had ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 11.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 45 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 75.7 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) )

This contrasts with the year-ago quarter when the company had net income of 11.7 million or 45 cents a share on revenue of 75.7 million


( S ( PP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Ashton-Tate ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 27.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.05 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

For the nine months Ashton-Tate had a loss of 27.6 million or 1.05 a share


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-ago ) ( NN period ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD had ) ( NP ( NP ( NN profit ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 34.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the year-ago period the company had profit of 34.3 million or 1.32 a share


( S ( NP-SBJ ( NP ( NN Revenue ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN period ) ) ) ) ( VP ( VBD slid ) ( NP-EXT ( QP ( RB almost ) ( CD 8 ) ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 203.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( RB about ) ( CD 220 ) ( CD million ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) )

Revenue in the period slid almost 8 % to 203.2 million from about 220 million last year


( S ( NP-SBJ ( NP ( NNP Edward ) ( NNP M. ) ( NNP Esber ) ) ( NP ( NP ( NN chairman ) ) ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ) ( VP ( VBD attributed ) ( NP ( DT the ) ( NN decline ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ reduced ) ( JJ domestic ) ( NN revenue ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( QP ( CD 4.9 ) ( CD million ) ) ) ( VP ( VBN spent ) ( S-PRP ( VP ( TO to ) ( VP ( VB upgrade ) ( NP ( JJ existing ) ( NN software ) ( NNS inventories ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJ new ) ( NN database ) ( NNP IV ) ( NNP Version ) ( CD 1.1 ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( QP ( CD 1.8 ) ( CD million ) ) ) ( VP ( VBN spent ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( JJ recent ) ( NN reduction ) ) ( PP-LOC ( IN in ) ( NP ( NN work ) ( NN force ) ) ) ) ) ) ) ) ) ) ) ) )

Edward M. Esber chairman president and chief executive officer attributed the decline to reduced domestic revenue because of 4.9 million spent to upgrade existing software inventories to the new database IV Version 1.1 and 1.8 million spent on the recent reduction in work force


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VBD was ) ( VP ( VBN encouraged ) ( PP ( IN by ) ( NP-LGS ( NP ( NN feedback ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD received ) ( PP-DIR ( IN from ) ( NP ( NP ( JJ selected ) ( NNS customers ) ) ( VP ( ADVP-TMP ( RB now ) ) ( VBG testing ) ( NP ( NNP Version ) ( CD 1.1 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said the company was encouraged by feedback it received from selected customers now testing Version 1.1


( S ( S ( NP-SBJ ( DT The ) ( JJ red ) ( NN ink ) ) ( VP ( VBD came ) ( PP ( IN as ) ( NP ( NP ( DT no ) ( NN surprise ) ) ( PP ( TO to ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD saw ) ( NP ( NP ( JJ ominous ) ( NNS hints ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ further ) ( NN delay ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN volume ) ( NNS shipments ) ) ( PP ( IN of ) ( NP ( NNP Version ) ( CD 1.1 ) ) ) ) ) ( NP ( NP ( DT a ) ( NN harbinger ) ) ( PP ( IN of ) ( NP ( NP ( JJ continued ) ( NNS losses ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The red ink came as no surprise to Wall Street but analysts said they saw ominous hints of a further delay in volume shipments of Version 1.1 a harbinger of continued losses in the fourth quarter


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN loss ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( PRP$ our ) ( NNS expectations ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP C. ) ( NNP Maxwell ) ( NNP III ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Dillon ) ( NNP Read ) ( CC & ) ( NNP Co. ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) )

The loss is in line with our expectations said John C. Maxwell III an analyst with Dillon Read & Co. in New York


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( S ( NP-SBJ ( NP ( JJ gross ) ( NNS margins ) ) ( CC and ) ( NP ( NN operating ) ( NN profit ) ) ) ( VP ( VBD eroded ) ( ADVP-MNR ( RB quite ) ( RB dramatically ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( JJ prior ) ( NN quarter ) ) ) ( PP ( IN along ) ( PP ( IN with ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( JJ existing ) ( NN software ) ( NN product ) ( NNS lines ) ) ( PP ( IN like ) ( NP ( NNP Multimate ) ( CC and ) ( NNP Framework ) ) ) ) ) ) ) ) ) ) ) ) )

He added gross margins and operating profit eroded quite dramatically from the prior quarter along with sales of existing software product lines like Multimate and Framework


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN success ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ new ) ( NN product ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN database ) ( NN line ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN needed ) ) ) )

The success of a new product in the database line is needed


( S ( S-TPC-1 ( CC And ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN made ) ( NP ( DT a ) ( JJ definite ) ( NN statement ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ looks ) ( SBAR-PRD ( IN like ) ( S ( NP-SBJ-2 ( DT that ) ) ( VP ( VBZ 's ) ( RB not ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADVP-TMP-PRD ( RB anytime ) ( RB soon ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Maxwell ) ) ( VP ( VBD said ) ) )

And while the company has n't made a definite statement it now looks like that 's not going to be anytime soon Mr. Maxwell said


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB ship ) ( NP ( JJ new ) ( NNS products ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ next ) ( CD two ) ( NNS quarters ) ) ) ) ) ) ) ) ) ) )

The company said in a statement that it expects to ship new products during the next two quarters


( SINV ( S-TPC-2 ( NP-SBJ ( PRP It ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ looks ) ( SBAR-PRD ( IN like ) ( S ( NP-SBJ-1 ( NN database ) ( NNP IV ) ( NNP Version ) ( CD 1.1 ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( PRN ( RB widely ) ) ( JJ available ) ) ) ) ) ( PP-TMP ( IN until ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP David ) ( NNP Bayer ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Montgomery ) ( NNP Securities ) ) ( PP-LOC ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ) ) )

It now looks like database IV Version 1.1 is n't going to be widely available until the first quarter of 1990 said David Bayer an analyst with Montgomery Securities in San Francisco


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ second ) ( NN delay ) ) ( ADVP-TMP ( RB now ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG getting ) ( NP ( DT the ) ( NN product ) ) ( PP-CLR ( IN out ) ( NP ( DT the ) ( NN door ) ) ) ) ) ) ) ) )

This is the second delay now in getting the product out the door


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ does ) ( VP ( VB prolong ) ( NP ( DT the ) ( NN pain ) ) ( ADVP-EXT ( RB somewhat ) ) ) ) )

It does prolong the pain somewhat


( S ( NP-SBJ ( NNP Mr. ) ( NNP Maxwell ) ) ( VP ( VBD said ) ( SBAR ( S ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD can ) ( VP ( VB start ) ( NP ( NP ( NNS shipments ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ new ) ( NN product ) ) ) ) ( NP-TMP ( RB sometime ) ( DT this ) ( NN quarter ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( JJ fourth-quarter ) ( NN loss ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ comparable ) ( PP ( TO to ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Maxwell said unless the company can start shipments of the new product sometime this quarter the fourth-quarter loss is likely to be comparable to the third quarter 's


( S ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( DT the ) ( NN company ) ) ( VP ( MD can ) ( VP ( VB start ) ( S ( VP ( TO to ) ( VP ( VB ship ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT this ) ( NN quarter ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( VP ( VB stem ) ( NP ( NP ( NP ( DT some ) ) ( CONJP ( IN if ) ( RB not ) ) ( NP ( DT all ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ red ) ( NN ink ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

If the company can start to ship during this quarter it could stem some if not all of the red ink he said


( S ( PP-LOC ( IN In ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ( NP-SBJ ( NNP Ashton-Tate ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 10 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB up ) ( NP ( CD 62.5 ) ( NNS cents ) ) ) ) )

In national over-the-counter trading Ashton-Tate closed yesterday at 10 a share up 62.5 cents


( S ( NP-SBJ ( NP ( NP ( NNP Sotheby ) ( POS 's ) ) ( NNP Inc. ) ) ( NP ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( JJS biggest ) ( NN auction ) ( NN house ) ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( NP ( NP ( DT a ) ( JJ huge ) ( NNP Wall ) ( JJ Street-style ) ( NN risk ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN outcome ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( NN art ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN estate ) ) ( PP ( IN of ) ( NP ( NP ( NNP John ) ( NNP T. ) ( NNP Dorrance ) ( NNP Jr. ) ) ( NP ( DT the ) ( NNP Campbell ) ( NNP Soup ) ( NNP Co. ) ( NN heir ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Sotheby 's Inc. the world 's biggest auction house is taking a huge Wall Street-style risk on the outcome of the sale of art from the estate of John T. Dorrance Jr. the Campbell Soup Co. heir


( S ( S-TPC-2 ( NP-SBJ ( DT The ) ( NNP Financial ) ( NNP Services ) ( NN division ) ) ( VP ( VBZ has ) ( VP ( VBN guaranteed ) ( NP ( DT the ) ( NNP Dorrance ) ( NN family ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB receive ) ( NP ( NP ( DT a ) ( NN minimum ) ) ( PP ( IN of ) ( NP ( QP ( CD 100 ) ( CD million ) ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN collection ) ) ) ( ADVP ( RB regardless ) ( PP ( IN of ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS bids ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN art ) ( NNS works ) ) ) ) ( VP ( VBP total ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNS people ) ) ( ADJP ( RB close ) ( PP ( TO to ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ( VP ( VBP say ) ) )

The Financial Services division has guaranteed the Dorrance family that it will receive a minimum of 100 million for the collection regardless of what the bids for the art works total people close to the transaction say


( S ( NP-SBJ ( NP ( DT The ) ( NN collection ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( NP ( NP ( CD two ) ( JJ early ) ( NNPS Picassos ) ) ( NP ( DT a ) ( NNP van ) ( NNP Gogh ) ) ( NP ( DT a ) ( NNP Monet ) ) ( NP ( JJ other ) ( NNS paintings ) ) ( NP ( NN furniture ) ( CC and ) ( NNS porcelains ) ) ) ) ) ) ) ( VP ( VBD went ) ( PP-PRD ( IN on ) ( NP ( NN sale ) ) ) ( NP-TMP ( JJ last ) ( NN night ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ) ( PP ( IN of ) ( NP ( CD six ) ( NNS auctions ) ) ) ) ) ) )

The collection which includes two early Picassos a van Gogh a Monet other paintings furniture and porcelains went on sale last night in the first of six auctions


( S ( SBAR-NOM-SBJ ( WHNP-1 ( WP What ) ) ( S ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBZ is ) ( VP ( VBG doing ) ) ) ) ) ( VP ( ADVP-MNR ( RB closely ) ) ( VBZ resembles ) ( NP ( NP ( DT an ) ( NN underwriting ) ) ( PP ( IN by ) ( NP ( DT an ) ( NN investment ) ( NN bank ) ) ) ) ) )

What Sotheby 's is doing closely resembles an underwriting by an investment bank


( S ( NP-SBJ ( NP ( DT A ) ( NN corporation ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NN stock ) ( CC or ) ( NNS bonds ) ) ) ) ) ) ) ) ) ( VP ( VBZ goes ) ( PP-DIR ( TO to ) ( NP ( NP ( DT a ) ( NNP Wall ) ( NNP Street ) ( NN firm ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ purchases ) ( NP ( DT the ) ( NNS securities ) ) ( ADVP-MNR ( RB outright ) ) ( S-ADV ( VP ( VBG accepting ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN risk ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG finding ) ( NP ( NNS buyers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A corporation that wants to sell stock or bonds goes to a Wall Street firm which purchases the securities outright accepting the financial risk of finding buyers


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NN investment ) ( NN bank ) ) ( VP ( MD can ) ( VP ( VB sell ) ( NP ( DT the ) ( NNS securities ) ) ( PP ( IN at ) ( NP ( NP ( DT a ) ( JJR higher ) ( NN price ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD paid ) ( NP ( DT the ) ( NN issuer ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ makes ) ( NP ( DT a ) ( NN profit ) ) ) )

If the investment bank can sell the securities at a higher price than it paid the issuer it makes a profit


( S ( PP-LOC ( IN At ) ( NP ( NP ( NP ( DT the ) ( JJ initial ) ( NN sale ) ) ( NP-TMP ( JJ last ) ( NN night ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP ( NP ( DT the ) ( NN sale ) ) ( VP ( VBG featuring ) ( NP ( DT the ) ( NNPS Impressionists ) ( NNS masters ) ) ) ) ) ) ( NP-SBJ ( NNS bids ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 116 ) ( CD million ) ) ) ) )

At the initial sale last night for example the sale featuring the Impressionists masters bids totaled 116 million


( S ( NP-SBJ ( DT That ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( ADVP ( RB slightly ) ) ( IN above ) ( NP ( NP ( NP ( NNP Sotheby ) ( POS 's ) ) ( JJ presale ) ( NN estimate ) ) ( PP ( IN of ) ( NP ( QP ( CD 111 ) ( CD million ) ) ) ) ) ) ) )

That was slightly above Sotheby 's presale estimate of 111 million


( S ( ADVP ( NNP Normally ) ) ( NP-SBJ ( NP ( NNP Sotheby ) ( POS 's ) ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN earned ) ( NP ( NP ( QP ( CD 20 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN total ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NNS commissions ) ) ) ) ) ) )

Normally Sotheby 's would have earned 20 % of the total in commissions


( S-2 ( ADVP ( RB Instead ) ) ( PRN ( S ( NP-SBJ ( NP ( NNS people ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN auction ) ( NN house ) ) ( VP ( VBD opted ) ( S ( VP ( TO to ) ( VP ( VB forgo ) ( NP ( DT that ) ( NN percentage ) ) ) ) ) ( UCP ( SBAR-PRD ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( DT the ) ( NN collection ) ) ) ) ) ) ( CC and ) ( PP ( IN in ) ( NP ( NP ( NN exchange ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG taking ) ( NP ( NP ( DT a ) ( JJR bigger ) ( NN chunk ) ) ( PP ( IN of ) ( NP ( NP ( NNS proceeds ) ) ( VP ( VBG exceeding ) ( NP ( QP ( CD 100 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Instead people familiar with the transaction said the auction house opted to forgo that percentage in order to obtain the collection and in exchange for taking a bigger chunk of proceeds exceeding 100 million


( S ( NP-SBJ ( NN Art ) ( NNS dealers ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( SBAR ( IN while ) ( S ( NP-SBJ ( NN auction ) ( NNS houses ) ) ( ADVP-TMP ( RB occasionally ) ) ( VP ( VBP guarantee ) ( NP ( NP ( DT the ) ( NN seller ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( ADJP ( RB highly ) ( JJ desirable ) ) ( NN work ) ) ( PP ( IN of ) ( NP ( NN art ) ) ) ) ) ) ( NP ( DT a ) ( JJ minimum ) ( NN price ) ) ) ) ) ( NP-SBJ ( NP ( DT a ) ( JJ financial ) ( NN commitment ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN size ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unprecedented ) ) ) ) ) ) )

Art dealers say that while auction houses occasionally guarantee the seller of a highly desirable work of art a minimum price a financial commitment of this size is unprecedented


( S ( NP-SBJ-1 ( NP ( NNP Diana ) ( NNP D. ) ( NNP Brooks ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Sotheby ) ( POS 's ) ) ( NNP North ) ( NNP America ) ( NN division ) ) ) ) ) ( VP ( ADVP-MNR ( RB vehemently ) ) ( VBZ denies ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD offered ) ( NP ( DT the ) ( NNP Dorrance ) ( NNS heirs ) ) ( NP ( DT a ) ( JJ money-back ) ( NN guarantee ) ) ) ) ) ( S-ADV ( VP ( VBG calling ) ( S ( NP-SBJ ( JJ such ) ( NNS reports ) ) ( ADJP-PRD ( JJ inaccurate ) ) ) ) ) ) )

Diana D. Brooks president of Sotheby 's North America division vehemently denies it offered the Dorrance heirs a money-back guarantee calling such reports inaccurate


( SINV ( S-ADV ( VP ( VBN Buried ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ glossy ) ( JJ hardbound ) ( NN catalog ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN sale ) ) ) ) ) ) ) ( ADVP ( RB however ) ) ( VP ( VBZ appears ) ) ( NP-SBJ-2 ( NP ( DT the ) ( NN statement ) ) ( S ( NP-SBJ ( NP ( NNP Sotheby ) ( POS 's ) ) ) ( VP ( VBZ has ) ( NP ( NP ( DT an ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN property ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN catalog ) ) ) ) ) ) ) ) ) )

Buried in the glossy hardbound catalog for the sale however appears the statement Sotheby 's has an interest in the property in this catalog


( SINV ( VP ( VBZ Explains ) ) ( NP-SBJ ( NP ( DT a ) ( NNP Sotheby ) ( POS 's ) ) ( NN spokeswoman ) ) ( S-2 ( NP-SBJ ( DT the ) ( NN statement ) ) ( VP ( VBZ means ) ( SBAR-NOM ( ADVP ( RB exactly ) ) ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ says ) ) ) ) ) ) )

Explains a Sotheby 's spokeswoman the statement means exactly what it says


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBN have ) ( NP ( NP ( DT some ) ( NN level ) ) ( PP ( IN of ) ( NP ( NP ( JJ financial ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN collection ) ) ) ) ) ) ) )

We have some level of financial interest in the collection


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB disclose ) ( NP ( NNS specifics ) ) ) ) )

We do n't disclose specifics


( S ( NP-SBJ-1 ( NP ( NNP Frank ) ( NNP Mirabello ) ) ( NP ( NP ( DT a ) ( NN lawyer ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Dorrance ) ( NN estate ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NNP Philadelphia ) ( NN law ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP Morgan ) ( NNP Lewis ) ( CC & ) ( NNP Bockius ) ) ) ) ) ) ) ( VP ( VBZ declines ) ( S ( VP ( TO to ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( JJ financial ) ( NNS arrangements ) ) ) ) ) ) ) )

Frank Mirabello a lawyer for the Dorrance estate with the Philadelphia law firm of Morgan Lewis & Bockius declines to comment on the financial arrangements


( S ( S ( NP-SBJ-1 ( NNP Sotheby ) ( VBZ 's ) ) ( VP ( VBN made ) ( NP ( DT the ) ( ADJP ( QP ( CD 100 ) ( CD million ) ) ) ( NN guarantee ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB keep ) ( NP ( DT the ) ( NNP Dorrance ) ( NN collection ) ) ( ADVP-CLR ( RB away ) ( PP ( IN from ) ( NP ( NP ( PRP$ its ) ( JJ archrival ) ) ( NP ( NN auction ) ( NN house ) ( NP ( NNP Christie ) ( POS 's ) ) ( NNP International ) ( NNP PLC ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Christie ) ( POS 's ) ) ( VP ( VBZ has ) ( VP ( VBN handled ) ( NP ( JJR smaller ) ( NNS sales ) ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( NNP Dorrance ) ( NN family ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NNS years ) ) ) ) ) ) )

Sotheby 's made the 100 million guarantee to keep the Dorrance collection away from its archrival auction house Christie 's International PLC Christie 's has handled smaller sales for the Dorrance family over the years


( SINV ( S-TPC-1 ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ ( NP ( NNP Christie ) ( POS 's ) ) ( NNS officials ) ) ( VP ( VBD asked ) ( SBAR ( WHADVP-5 ( WRB why ) ) ( S ( NP-SBJ-3 ( DT the ) ( JJ firm ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN picked ) ( S-CLR ( VP ( TO to ) ( VP ( VB sell ) ( NP ( DT the ) ( NNP Dorrance ) ( NN collection ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNS representatives ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Dorrance ) ( NN family ) ) ) ) ( VP ( VBD told ) ( NP ( PRP us ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN question ) ) ( PP ( IN of ) ( NP ( JJ financial ) ( NNS considerations ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Findlay ) ) ( NP ( NP ( NP ( NNP Christie ) ( POS 's ) ) ( NN head ) ) ( PP ( IN of ) ( NP ( ADJP ( JJ impressionist ) ( CC and ) ( JJ modern ) ) ( NNS paintings ) ) ) ) ) )

When Christie 's officials asked why the firm was n't picked to sell the Dorrance collection representatives of the Dorrance family told us it was a question of financial considerations said Michael Findlay Christie 's head of impressionist and modern paintings


( S ( S ( NP-SBJ ( NP ( NNS Collectors ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP have ) ( VP ( VBN made ) ( NP ( PRP$ their ) ( NN money ) ) ( PP-LOC ( IN on ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN become ) ( NP-PRD ( NP ( DT an ) ( ADJP ( RB increasingly ) ( JJ important ) ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN art ) ( NN business ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP$ their ) ( NN money ) ) ( VP ( VBZ has ) ( VP ( VBN helped ) ( S ( VP ( VB fuel ) ( NP ( DT the ) ( NN art ) ( NN boom ) ) ) ) ) ) ) ( CC but ) ( S ( ADVP-TMP ( RB recently ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ appears ) ( SBAR ( S ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG returning ) ( NP ( DT the ) ( NN compliment ) ) ) ) ) ) ) ) ) )

Collectors who have made their money on Wall Street have become an increasingly important part of the art business and their money has helped fuel the art boom but recently it appears Sotheby 's has been returning the compliment


( S ( PP-TMP ( IN In ) ( NP ( NNP November ) ( CD 1987 ) ) ) ( NP-SBJ-1 ( NNP Sotheby ) ( POS 's ) ) ( ADVP ( RB essentially ) ) ( VP ( VBD offered ) ( NP ( NP ( DT a ) ( ADJP ( NNP Wall ) ( JJ Street-style ) ) ( NN bridge ) ( NN loan ) ) ( PP ( IN of ) ( NP ( QP ( RB about ) ( CD 27 ) ( CD million ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( JJ Australian ) ( NN businessman ) ( NNP Alan ) ( NNP Bond ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB enable ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NP ( NNP Vincent ) ( NNP van ) ( NNP Gogh ) ( POS 's ) ) ( NNS Irises ) ) ( PP-CLR ( IN for ) ( NP ( QP ( CD 53.9 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) )

In November 1987 Sotheby 's essentially offered a Wall Street-style bridge loan of about 27 million to Australian businessman Alan Bond to enable him to purchase Vincent van Gogh 's Irises for 53.9 million


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJS highest ) ( NN bid ) ) ( PP-LOC ( IN in ) ( NP ( NN history ) ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN work ) ) ( PP ( IN of ) ( NP ( NN art ) ) ) ) ) ) ) )

It was the highest bid in history for a work of art


( S ( CC But ) ( ADVP-TMP ( NP ( CD two ) ( NNS weeks ) ) ( RB ago ) ) ( NP-SBJ ( NNP Sotheby ) ( VBZ 's ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( DT the ) ( NN painting ) ) ( PP-LOC-CLR ( IN under ) ( NP ( NN lock ) ( CC and ) ( NN key ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( DT the ) ( NN loan ) ) ( VP ( VBD had ) ( RB not ) ( VP ( VBN been ) ( VP ( ADVP ( RB fully ) ) ( VBN repaid ) ) ) ) ) ) ) ) ) ) )

But two weeks ago Sotheby 's said that it has the painting under lock and key because the loan had not been fully repaid


( SINV ( S-TPC-2 ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBZ is ) ( VP ( VBG offering ) ( NP ( JJ such ) ( NNS deals ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT an ) ( NN art ) ( NNS sellers ) ( POS ' ) ) ( NN market ) ) ( SBAR-LOC ( ADVP ( IN at ) ( JJS least ) ) ( WHADVP-3 ( WRB where ) ) ( S ( NP-SBJ-1 ( DT the ) ( JJS best ) ( NNS works ) ) ( VP ( VBP are ) ( VP ( VBN concerned ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Ralph ) ( NNP Lerner ) ) ( NP ( NP ( DT an ) ( NN attorney ) ( CC and ) ( NN author ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN book ) ) ( NP-TTL ( NN Art ) ( NN Law ) ) ) ) ) ) )

Sotheby 's is offering such deals because it 's an art sellers ' market at least where the best works are concerned says Ralph Lerner an attorney and author of the book Art Law


( S ( S ( NP-SBJ-1 ( EX There ) ) ( VP ( VBZ seems ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN art ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NN sale ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( EX there ) ) ( VP ( POS 's ) ( NP-PRD ( JJR more ) ( NN competition ) ) ) ) )

There seems to be a lot of art for sale but there 's more competition


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN competition ) ) ( VP ( VBZ gives ) ( NP ( DT the ) ( NN seller ) ) ( NP ( DT the ) ( NN ability ) ( S ( VP ( TO to ) ( VP ( VB cut ) ( NP ( DT a ) ( JJR better ) ( NN deal ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

The competition gives the seller the ability to cut a better deal he says


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNP Dorrance ) ( NN family ) ) ( VP ( MD will ) ( ADVP-TMP ( RB still ) ) ( VP ( VB receive ) ( NP ( NP ( DT a ) ( JJ substantial ) ( NN portion ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN auction ) ( NNS proceeds ) ) ( PP ( IN above ) ( NP ( QP ( CD 100 ) ( CD million ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNS people ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ( VP ( VBD said ) ) )

The Dorrance family will still receive a substantial portion of the auction proceeds above 100 million people familiar with the transaction said


( S ( CC But ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB likely ) ) ( SBAR-1 ( DT that ) ( S ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NP ( DT a ) ( ADJP ( ADJP ( JJR higher ) ) ( PP ( IN than ) ( NP ( JJ usual ) ) ) ) ( NN commission ) ) ( VP ( VBD called ) ( S ( NP-PRD ( DT an ) ( NN override ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN amount ) ) ( VP ( VBG exceeding ) ( NP ( DT the ) ( NN guarantee ) ) ) ) ) ) ) ) ) ) )

But it 's likely that Sotheby 's will take a higher than usual commission called an override on the amount exceeding the guarantee


( S ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( ADVP-MNR ( RB aggressively ) ) ( VBG promoting ) ( NP ( DT the ) ( NNP Dorrance ) ( NN sale ) ) ) ) ) )

Sotheby 's has been aggressively promoting the Dorrance sale


( S ( PP-LOC ( IN At ) ( NP ( NP ( DT a ) ( NN news ) ( NN conference ) ) ( NP-TMP ( JJ last ) ( NNP May ) ) ( VP ( VBG announcing ) ( NP ( NP ( NNS plans ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN auction ) ) ) ) ) ) ) ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBD estimated ) ( NP ( PRP$ its ) ( NN value ) ) ( PP-CLR ( IN in ) ( NP ( NP ( NN excess ) ) ( PP ( IN of ) ( NP ( QP ( CD 100 ) ( CD million ) ) ) ) ) ) ) )

At a news conference last May announcing plans for the auction Sotheby 's estimated its value in excess of 100 million


( S ( ADVP-TMP ( RBR More ) ( RB recently ) ) ( NP-SBJ ( NNP Sotheby ) ( POS 's ) ) ( VP ( VBZ has ) ( VP ( VBN predicted ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN collection ) ) ( VP ( MD will ) ( VP ( VB fetch ) ( NP ( QP ( CD 140 ) ( CD million ) ) ) ) ) ) ) ) ) )

More recently Sotheby 's has predicted the collection will fetch 140 million


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( JJS highest ) ( NN estimate ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ single ) ( NN collection ) ) ) ( PP-LOC ( IN in ) ( NP ( NN auction ) ( NN history ) ) ) ) ) )

That 's the highest estimate for a single collection in auction history


( S ( NP-SBJ ( DT The ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB put ) ( NP ( DT the ) ( JJ entire ) ( NN collection ) ) ( PP-PUT ( IN on ) ( NP ( DT the ) ( NN block ) ) ) ) ) ) ) ( VP ( VBD stunned ) ( NP ( JJ many ) ) ( SBAR-PRP ( IN since ) ( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Dorrance ) ) ( VP ( VBD had ) ( VP ( VBN served ) ( PP-CLR ( IN as ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Philadelphia ) ( NNP Museum ) ) ( PP ( IN of ) ( NP ( NNP Art ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( PRP it ) ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN assumed ) ( SBAR-3 ( S ( NP-SBJ-2 ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS works ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN donated ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN institution ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The decision to put the entire collection on the block stunned many since Mr. Dorrance had served as chairman of the Philadelphia Museum of Art and it had been assumed many of the works would be donated to the institution


( S ( PP-LOC ( IN At ) ( NP ( NP ( JJ last ) ( NN night ) ( POS 's ) ) ( NN sale ) ) ) ( NP-SBJ-1 ( NP ( QP ( CD 13 ) ( IN of ) ( CD 44 ) ) ( NNS works ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD sold ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN purchased ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Aska ) ( NNP International ) ( NNP Gallery ) ) ( NP ( NP ( DT the ) ( JJ art-acquisition ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP Aichi ) ( NNP Financial ) ) ( NP ( NP ( DT a ) ( JJ Japanese ) ( NN conglomerate ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBZ owns ) ( NP ( NP ( CD 7.5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NN Christie ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

At last night 's sale 13 of 44 works that sold were purchased by Aska International Gallery the art-acquisition unit of Aichi Financial a Japanese conglomerate that owns 7.5 % of Christie 's


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( NP ( NNP Sotheby ) ( POS 's ) ) ( NN guarantee ) ) ( VP ( VBZ is ) ( VP ( VBG raising ) ( NP ( NNS eyebrows ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN art ) ( NN world ) ) ) ) ) )

Meanwhile Sotheby 's guarantee is raising eyebrows in the art world


( SINV ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NN consumer ) ) ( VP ( VBZ has ) ( S ( VP ( TO to ) ( VP ( VB throw ) ( PRT ( RP out ) ) ( NP ( DT the ) ( NN idea ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN auction ) ( NN house ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ disinterested ) ( NN middleman ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP New ) ( NNP York ) ( NN art ) ( NN dealer ) ( NNP David ) ( NNP Tunick ) ) )

The consumer has to throw out the idea that the auction house is a disinterested middleman says New York art dealer David Tunick


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( NP ( DT no ) ( NN problem ) ) ( PP ( IN with ) ( NP ( NP ( NN auction ) ( NNS houses ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP sell ) ( NP ( NP ( NNS works ) ) ( SBAR ( WHPP-3 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( JJ financial ) ( NN interest ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP It ) ) ( VP ( MD ought ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN hidden ) ( PP-LOC-CLR ( IN in ) ( NP ( DT some ) ( JJ small ) ( NN print ) ) ) ) ) ) ) ) )

While he adds that he has no problem with auction houses who sell works in which they have a financial interest It ought not to be hidden in some small print


( S ( PP-LOC ( IN In ) ( NP ( JJ such ) ( NNS situations ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN house ) ) ( VP ( VBZ is ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB put ) ( NP ( DT the ) ( JJS best ) ( NN light ) ) ( PP-PUT ( IN on ) ( NP ( NNS things ) ) ) ) ) ) ) ) )

In such situations he says the house is going to put the best light on things


( S ( S-TPC-3 ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ-1 ( NP ( NP ( DT an ) ( NN auction ) ( NN house ) ( POS 's ) ) ( NNS comments ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN condition ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN work ) ) ( PP ( IN of ) ( NP ( NN art ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ is ) ( ADVP-PRD ( RB up ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN looked ) ( PP-CLR ( IN at ) ) ( PP ( IN with ) ( NP ( ADJP ( RB very ) ( JJ open ) ) ( NNS eyes ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

For example an auction house 's comments on the condition of a work of art that is up for sale should be looked at with very open eyes he says


( SINV ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( JJR more ) ( CC and ) ( JJR more ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN cash-up-front ) ) ) ) ( VP ( VBG going ) ( PRT ( RP on ) ) ( PP-LOC ( IN at ) ( NP ( DT every ) ( NN level ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Bruce ) ( NNP Miller ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Art ) ( NNP Funding ) ( NNP Corp. ) ) ( NP ( DT an ) ( NN art ) ( NN lender ) ) ) ) ) ) )

There 's more and more of this cash-up-front going on at every level says Bruce Miller president of Art Funding Corp. an art lender


( S ( S ( NP-SBJ ( NP ( NNS Dealers ) ) ( CC and ) ( NP ( NN auction ) ( NNS houses ) ) ) ( VP ( VBP know ) ( SBAR ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB lay ) ( PRT ( RP out ) ) ( NP ( QP ( DT a ) ( PDT half ) ) ( DT a ) ( CD million ) ) ( PP-PRP ( IN for ) ( NP ( DT this ) ) ) ) ) ) ) ( NP-SBJ ( DT another ) ( NN one ) ) ( VP ( MD will ) ) ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB that ) ( JJ competitive ) ) ) ) )

Dealers and auction houses know if they do n't lay out a half a million for this another one will it 's that competitive


( S ( PP-TMP ( IN In ) ( NP ( NNP January ) ) ) ( NP-SBJ ( NP ( CD two ) ( JJ small ) ( NNP New ) ( NNP York ) ( NNS galleries ) ) ( NP ( NP ( DT the ) ( NNP Coe ) ( NNP Kerr ) ( NNP Gallery ) ) ( CC and ) ( NP ( NNP Beadleston ) ( NNP Fine ) ( NNP Arts ) ) ) ) ( VP ( VBD snatched ) ( NP ( NP ( DT a ) ( JJ major ) ( NN art ) ( NN collection ) ) ( VP ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Askin ) ( NN family ) ) ) ) ) ( ADVP-CLR ( RB away ) ( PP ( IN from ) ( NP ( JJ rival ) ( NN auction-house ) ( NNS bidders ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT an ) ( JJ up-front ) ( NN payment ) ) ( PP ( IN of ) ( NP ( QP ( RB about ) ( CD 25 ) ( CD million ) ) ) ) ) ) ) )

In January two small New York galleries the Coe Kerr Gallery and Beadleston Fine Arts snatched a major art collection owned by the Askin family away from rival auction-house bidders with an up-front payment of about 25 million


( S ( NP-SBJ ( NP ( DT A ) ( NNP Christie ) ( POS 's ) ) ( NN spokeswoman ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN while ) ( S ( NP-SBJ-1 ( DT the ) ( NN auction ) ( NN house ) ) ( ADVP-TMP ( RB sometimes ) ) ( VP ( VBZ waives ) ( NP ( NP ( PRP$ its ) ( NN seller ) ( POS 's ) ) ( NN commission ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB attract ) ( NP ( NN art ) ( NNS works ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RB still ) ) ( VP ( VBZ gets ) ( NP ( DT a ) ( NN commission ) ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NN buyer ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Christie ) ( POS 's ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB offer ) ( NP ( JJ financial ) ( NNS guarantees ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNP Christie ) ( POS 's ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( JJ primary ) ( NN role ) ) ( VP ( VBZ is ) ( PP-PRD ( PP ( IN as ) ( NP ( DT an ) ( NN auction ) ( NN house ) ) ) ( CC and ) ( ADVP ( RB therefore ) ) ( PP ( IN as ) ( NP ( NP ( DT an ) ( NN agent ) ) ( PRN ( PP ( IN for ) ( NP ( NN buyer ) ( CC and ) ( NN seller ) ) ) ) ) ) ( RB not ) ( PP ( IN as ) ( NP ( DT a ) ( NN bank ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A Christie 's spokeswoman said that while the auction house sometimes waives its seller 's commission to attract art works it still gets a commission from the buyer Christie 's wo n't offer financial guarantees because Christie 's believes its primary role is as an auction house and therefore as an agent for buyer and seller not as a bank


( S ( S-TPC-3 ( NP-SBJ ( NP ( NNP Canada ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBG preparing ) ( S ( VP ( TO to ) ( VP ( VB speed ) ( PRT ( RP up ) ) ( NP ( NP ( NN tariff ) ( NNS cuts ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD recorded ) ( NP ( NP ( DT a ) ( ADJP ( CD 47 ) ( NN % ) ) ( NN narrowing ) ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ its ) ( NN trade ) ( NN surplus ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ( NP-SBJ ( NP ( NNP Statistics ) ( NNP Canada ) ) ( NP ( DT a ) ( JJ federal ) ( NN agency ) ) ) ( VP ( VBD reported ) ) )

Canada which is preparing to speed up tariff cuts with the U.S. recorded a 47 % narrowing in its trade surplus with the U.S. in August Statistics Canada a federal agency reported


( S ( NP-SBJ ( NP ( NNP U.S. ) ( NNS exports ) ) ( PP ( TO to ) ( NP ( NNP Canada ) ) ) ) ( VP ( VBD jumped ) ( NP-EXT ( CD 11.2 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( PP-DIR ( IN from ) ( NP-TMP ( NNP July ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( NNP U.S. ) ( NNS imports ) ) ( PP ( IN from ) ( NP ( NNP Canada ) ) ) ) ( VP ( VBD rose ) ( X-EXT ( NP ( QP ( RB only ) ( CD 2.7 ) ) ( NN % ) ) ) ) ) ) ) )

U.S. exports to Canada jumped 11.2 % in August from July while U.S. imports from Canada rose only 2.7 %


( S ( PP-PRP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-SBJ ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( NN trade ) ( NN surplus ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( VP ( VBD narrowed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 656.5 ) ( CD million ) ) ) ( PRN ( NP ( QP ( CD 558 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 1.23 ) ( CD billion ) ) ) ( PRN ( NP ( QP ( CD 1.04 ) ( CD billion ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ) ) ) ) )

As a result Canada 's trade surplus with the U.S. narrowed to 656.5 million 558 million in August from 1.23 billion 1.04 billion in July


( S ( S-TPC-1 ( NP-SBJ ( NNP U.S. ) ( NNS exports ) ) ( VP ( VBD benefited ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NP ( JJ heavy ) ( JJ Canadian ) ( NN spending ) ) ( PP-LOC ( IN on ) ( NP ( JJ new ) ( NN plant ) ( CC and ) ( NN equipment ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN pickup ) ) ( PP-LOC ( IN in ) ( NP ( JJ Canadian ) ( NN auto ) ( NN demand ) ) ) ) ) ) ) ) ( NP-SBJ ( JJ Canadian ) ( NNS officials ) ) ( VP ( VBD said ) ) )

U.S. exports benefited in August from heavy Canadian spending on new plant and equipment and a pickup in Canadian auto demand Canadian officials said


( S ( NP-SBJ-2 ( NP ( NP ( DT The ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Canada ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP do ) ( NP ( NP ( JJR more ) ( NN trade ) ) ( PP ( IN than ) ( NP ( NP ( DT any ) ( JJ other ) ( NN pair ) ) ( PP ( IN of ) ( NP ( NNS nations ) ) ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP-TMP ( JJ next ) ( NN month ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB arrange ) ( NP ( NP ( DT an ) ( NN acceleration ) ) ( PP ( IN of ) ( NP ( NP ( JJ planned ) ( NN tariff ) ( NNS cuts ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NNP U.S.-Canada ) ( JJ free ) ( NN trade ) ( NN agreement ) ) ) ) ) ) ) ) ) ) ) ) ) )

The U.S. and Canada which do more trade than any other pair of nations are to meet next month to arrange an acceleration of planned tariff cuts under the U.S.-Canada free trade agreement


( S ( NP-SBJ ( NP ( NNS Industries ) ) ( PP-LOC ( IN in ) ( NP ( DT both ) ( NNS countries ) ) ) ) ( VP ( VBP have ) ( VP ( VBN requested ) ( NP ( NP ( DT a ) ( NN speedup ) ) ( PP ( IN of ) ( NP ( NP ( NN tariff ) ( NNS cuts ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NNS products ) ) ) ) ) ) ) ) ) ) )

Industries in both countries have requested a speedup of tariff cuts on hundreds of products


( S ( NP-SBJ-1 ( DT Some ) ( NNS tariffs ) ) ( VP ( VBD were ) ( VP ( VBN eliminated ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN trade ) ( NN pact ) ) ( VP ( VBD took ) ( NP ( NN effect ) ) ( NP-TMP ( NNP Jan. ) ( CD 1 ) ) ) ) ) ) ) )

Some tariffs were eliminated when the trade pact took effect Jan. 1


( S ( NP-SBJ-1 ( DT The ) ( NN remainder ) ) ( VP ( VBD were ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN phased ) ( PRT ( RP out ) ) ( PP ( IN in ) ( NP ( QP ( CD five ) ( CC or ) ( CD 10 ) ) ( JJ annual ) ( NNS installments ) ) ) ( SBAR-ADV ( IN with ) ( S ( NP-SBJ-3 ( DT all ) ( NNS tariffs ) ) ( VP ( VBN eliminated ) ( PP-TMP ( IN by ) ( NP ( NNP January ) ( CD 1998 ) ) ) ) ) ) ) ) ) ) ) )

The remainder were to be phased out in five or 10 annual installments with all tariffs eliminated by January 1998


( S ( NP-SBJ-3 ( DT The ) ( CD two ) ( NNS countries ) ) ( VP ( VBP aim ) ( S ( VP ( TO to ) ( VP ( VB reach ) ( NP ( NP ( DT an ) ( NN agreement ) ) ) ( PP-TMP ( IN by ) ( NP ( JJ early ) ( NNP December ) ) ) ( PP-1 ( IN on ) ( NP ( NP ( DT a ) ( NN package ) ) ( PP ( IN of ) ( NP ( NP ( JJ accelerated ) ( NN tariff ) ( NNS cuts ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB take ) ( NP ( VB effect ) ) ( NP-TMP ( RB early ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The two countries aim to reach an agreement by early December on a package of accelerated tariff cuts that would take effect early next year


( S ( NP-SBJ ( JJ Canadian ) ( NNS officials ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN trade ) ( NN pact ) ) ( VP ( VBZ has ) ( VP ( VBN kindled ) ( NP ( NP ( DT an ) ( NN export ) ( NN interest ) ) ( PP-LOC ( IN among ) ( NP ( NP ( JJ many ) ( JJ small ) ( JJ Canadian ) ( NNS companies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP-TMP ( RB previously ) ) ( VP ( VBD had ) ( NP ( ADJP ( JJ little ) ( CC or ) ( RB no ) ) ( JJ foreign ) ( NNS sales ) ) ) ) ) ) ) ) ) ) ) ) ) )

Canadian officials said the trade pact has kindled an export interest among many small Canadian companies that previously had little or no foreign sales


( S ( PP ( IN For ) ( NP ( JJ such ) ( NNS businessmen ) ) ) ( NP-SBJ ( DT the ) ( JJ Canadian ) ( NN government ) ) ( VP ( VBZ is ) ( VP ( VBG organizing ) ( NP ( NP ( CD 55 ) ( NNS missions ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( PP ( TO to ) ( NP ( NP ( NNP U.S. ) ( NNS states ) ) ( VP ( VBG bordering ) ( PP-LOC-CLR ( IN on ) ( NP ( NNP Canada ) ) ) ) ) ) ) ) ) )

For such businessmen the Canadian government is organizing 55 missions this year to U.S. states bordering on Canada


( S ( NP-SBJ-1 ( DT The ) ( NNS businessmen ) ) ( VP ( VBP are ) ( VP ( VP ( VBN introduced ) ( PP-CLR ( TO to ) ( NP ( JJ potential ) ( NNS agents ) ( CC and ) ( NNS distributors ) ) ) ) ( CC and ) ( VP ( VBN instructed ) ( PP-CLR ( IN in ) ( NP ( NN trade ) ( NNS procedures ) ) ) ) ) ) )

The businessmen are introduced to potential agents and distributors and instructed in trade procedures


( S ( NP-SBJ-1 ( DT The ) ( NNP U.S. ) ( NNP Commerce ) ( NNP Department ) ) ( VP ( VBZ is ) ( VP ( VBG planning ) ( S ( VP ( TO to ) ( VP ( VB try ) ( PRT ( RP out ) ) ( NP ( JJ similar ) ( NNS trips ) ) ( PP-CLR ( IN on ) ( NP ( NNP U.S. ) ( NNS businessmen ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ coming ) ( NNS months ) ) ) ( PP-LOC ( IN under ) ( NP ( PRP$ its ) ( NNP Canada ) ( NNP First ) ( NNP Outreach ) ( NNP Program ) ) ) ) ) ) ) ) )

The U.S. Commerce Department is planning to try out similar trips on U.S. businessmen in coming months under its Canada First Outreach Program


( S ( NP-SBJ-2 ( NP ( NNS Participants ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NNP U.S. ) ( NNS missions ) ) ( PP ( TO to ) ( NP ( NNP Canada ) ) ) ) ) ) ( VP ( VBP are ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN assisted ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS members ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NNP Service ) ( NNP Corps ) ) ( PP ( IN of ) ( NP ( NNP Retired ) ( NNP Executives ) ) ) ) ( NP ( DT a ) ( NN volunteer ) ( NN group ) ) ) ) ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG dealing ) ( PP-CLR ( IN with ) ( NP ( PRP$ their ) ( NN export ) ( NNS challenges ) ) ) ) ) ) ) ) ) ) ) )

Participants in the U.S. missions to Canada are to be assisted by members of the Service Corps of Retired Executives a volunteer group in dealing with their export challenges


( S ( NP-SBJ ( DT The ) ( JJ Canadian ) ( NN government ) ) ( ADVP ( RB also ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBN opened ) ( NP ( JJ new ) ( NN trade ) ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP San ) ( NNP Diego ) ) ( NP ( NP ( NNP San ) ( NNP Juan ) ) ( NP ( NNP Puerto ) ( NNP Rico ) ) ) ( NP ( NNP Miami ) ) ( NP ( NP ( NNP Princeton ) ) ( NP ( NNP N.J. ) ) ) ( CC and ) ( NP ( NNP Denver ) ) ) ) ( S-ADV ( VP ( VBG bringing ) ( NP ( NP ( DT the ) ( JJ total ) ( NN number ) ) ( PP ( IN of ) ( NP ( JJ such ) ( JJ Canadian ) ( NNS offices ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 27 ) ) ) ) ) ) ) )

The Canadian government also has recently opened new trade offices in San Diego San Juan Puerto Rico Miami Princeton N.J. and Denver bringing the total number of such Canadian offices in the U.S. to 27


( S ( NP-SBJ ( DT The ) ( NNP U.S. ) ) ( VP ( VBZ has ) ( NP ( CD six ) ( NN trade ) ( NN promotion ) ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NNP Canada ) ) ) ) )

The U.S. has six trade promotion offices in Canada


( S ( NP-SBJ-1 ( NP ( NNP Canada ) ( POS 's ) ) ( NN export ) ( NN effort ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN blunted ) ( PP ( PP ( IN by ) ( NP-LGS ( JJ robust ) ( NN home ) ( NN market ) ( NN demand ) ) ) ( CC and ) ( PP ( IN by ) ( NP-LGS ( NP ( DT an ) ( ADJP ( CD 18 ) ( NN % ) ) ( NN appreciation ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ Canadian ) ( NN dollar ) ) ) ( PP ( IN against ) ( NP ( PRP$ its ) ( NNP U.S. ) ( NN counterpart ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( CD three ) ( NNS years ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN made ) ( S ( NP-SBJ ( JJ Canadian ) ( NNS goods ) ) ( ADJP-PRD ( RBR more ) ( JJ costly ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Canada 's export effort has been blunted by robust home market demand and by an 18 % appreciation of the Canadian dollar against its U.S. counterpart in the past three years that has made Canadian goods more costly in the U.S.


( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( NN trade ) ( NN surplus ) ) ( PP ( IN with ) ( NP ( DT all ) ( NNS countries ) ) ) ) ( VP ( VBD narrowed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 203.5 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 528.3 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ) ) ) ) ) ) ( NP-SBJ ( NNP Statistics ) ( NNP Canada ) ) ( VP ( VBD said ) ) )

Canada 's trade surplus with all countries narrowed to 203.5 million in August from 528.3 million in July Statistics Canada said


( S ( NP-SBJ ( NNP Enserch ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NP ( QP ( RB about ) ( CD 12 ) ( CD million ) ) ) ( CC or ) ( NP ( CD 93 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RB publicly ) ( VBN traded ) ) ( NNS units ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( JJ limited ) ( NN partnership ) ) ( NP ( NNP Enserch ) ( NNP Exploration ) ( NNP Partners ) ( NNP Ltd. ) ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN tendered ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( DT an ) ( NN offer ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD expired ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Enserch Corp. said about 12 million or 93 % of the publicly traded units of its limited partnership Enserch Exploration Partners Ltd. were tendered in response to an offer that expired Monday


( S ( NP-SBJ ( NNP Enserch ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( VBN tendered ) ( NNS units ) ) ( VP ( MD will ) ( VP ( VB raise ) ( NP ( NP ( PRP$ its ) ( NN ownership ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN partnership ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 99 ) ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 87 ) ( NN % ) ) ) ) ) ) ) ) )

Enserch said the tendered units will raise its ownership of the partnership to more than 99 % from 87 %


( S ( S-TPC-3 ( NP-SBJ-2 ( QP ( RB About ) ( CD 900,000 ) ) ( NNS units ) ) ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB publicly ) ) ( VBN traded ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Enserch ) ) ( VP ( VBD said ) ) )

About 900,000 units will continue to be publicly traded on the New York Stock Exchange Enserch said


( S ( NP-SBJ ( NNP Enserch ) ) ( VP ( VBD had ) ( VP ( VBN offered ) ( NP ( NP ( NP ( NN one-half ) ( DT a ) ( NN share ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ common ) ) ) ) ( CC and ) ( NP ( NP ( CD 1 ) ) ( PP ( IN in ) ( NP ( NN cash ) ) ) ) ) ( PP ( IN for ) ( NP ( DT each ) ( NN unit ) ) ) ) ) )

Enserch had offered one-half a share of its common and 1 in cash for each unit


( S ( NP-SBJ ( NNP Steve ) ( NNP Jobs ) ) ( VP ( VBD took ) ( NP ( NP ( DT a ) ( NN step ) ) ( ADVP ( RB back ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN frontier ) ) ( PP ( IN of ) ( NP ( NN personal-computer ) ( NN technology ) ) ) ) ) ) ) ( PP ( IN in ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB spur ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NNP Next ) ( NNP Inc. ) ( POS 's ) ) ( JJ new ) ( NN machine ) ) ) ) ) ) ) ) ) ) )

Steve Jobs took a step back from the frontier of personal-computer technology in an effort to spur sales of Next Inc. 's new machine


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Jobs ) ) ( VP ( VBD moved ) ( S ( VP ( TO to ) ( VP ( VB remedy ) ( NP ( NP ( DT a ) ( NN couple ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ his ) ( NN computer ) ( POS 's ) ) ( NNS drawbacks ) ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG lowering ) ( NP ( NP ( DT the ) ( JJ entry-level ) ( NN price ) ) ( PP ( IN for ) ( NP ( DT a ) ( NNP Next ) ( NN machine ) ) ) ) ( PP-EXT ( IN by ) ( NP ( NP ( CD 1,500 ) ) ( CC or ) ( NP ( CD 23 ) ( NN % ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN buyer ) ) ( VP ( VBZ chooses ) ( NP ( DT a ) ( JJ hard-disk ) ( NN drive ) ) ( PP ( IN as ) ( NP ( NP ( DT an ) ( NN alternative ) ) ( PP ( TO to ) ( NP ( NP ( NNP Next ) ( POS 's ) ) ( JJ optical-storage ) ( NN device ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Jobs moved to remedy a couple of his computer 's drawbacks yesterday by lowering the entry-level price for a Next machine by 1,500 or 23 % if the buyer chooses a hard-disk drive as an alternative to Next 's optical-storage device


( S ( NP-SBJ ( NP ( DT The ) ( JJ hard ) ( NN drive ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN storage ) ( NN device ) ) ( PP ( IN of ) ( NP ( NN choice ) ) ) ) ( PP ( IN for ) ( NP ( ADJP ( RB virtually ) ( DT every ) ) ( JJ desktop ) ( NN computer ) ( NN user ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( ADVP-TMP ( RB now ) ) ( VP ( MD will ) ( VP ( VB supplement ) ( NP ( NP ( NNP Next ) ( POS 's ) ) ( JJ futuristic ) ( JJ optical ) ( NN device ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NNS buyers ) ) ( VP ( VBP pay ) ( NP ( JJ full ) ( NN price ) ) ) ) ) ) ) )

The hard drive which is the storage device of choice for virtually every desktop computer user also now will supplement Next 's futuristic optical device if buyers pay full price


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Jobs ) ) ( NP ( NP ( NN co-founder ) ) ( PP ( IN of ) ( NP ( NNP Apple ) ( NNP Computer ) ( NNP Inc. ) ) ) ) ) ( VP ( VBD founded ) ( NP ( NNP Next ) ) ( ADVP-TMP ( NP ( CD four ) ( NNS years ) ) ( RB ago ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NNS hopes ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG fomenting ) ( NP ( NP ( DT a ) ( NN revolution ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ-3 ( JJ desktop ) ( NNS computers ) ) ( VP ( VBP are ) ( VP ( VBN designed ) ( CC and ) ( VBN used ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Jobs co-founder of Apple Computer Inc. founded Next four years ago in the hopes of fomenting a revolution in the way desktop computers are designed and used


( S ( NP-SBJ ( NP ( PRP$ His ) ( NNP Next ) ( NN computer ) ) ( VP ( VP ( VBN introduced ) ( ADVP-TMP ( NP ( QP ( IN about ) ( DT a ) ) ( NN year ) ) ( RB ago ) ) ) ( CC and ) ( VP ( VBD aimed ) ( PP-CLR ( ADVP ( RB primarily ) ) ( IN at ) ( NP ( NN university ) ( NN computer ) ( NNS users ) ) ) ) ) ) ( VP ( VBZ sports ) ( NP ( NP ( JJ snazzy ) ( NNS graphics ) ) ( NP ( JJ digital ) ( NN sound ) ) ( NP ( JJ built-in ) ( NN networking ) ) ( CC and ) ( NP ( DT a ) ( JJ sleek ) ( JJ black ) ( NN design ) ) ) ) )

His Next computer introduced about a year ago and aimed primarily at university computer users sports snazzy graphics digital sound built-in networking and a sleek black design


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN computer ) ) ( VP ( VBD was ) ( VP ( VBG proving ) ( NP-PRD ( DT a ) ( JJ hard ) ( NN sell ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( PRP$ its ) ( JJ high ) ( NN price ) ) ( NP ( NP ( DT a ) ( NN lack ) ) ( PP ( IN of ) ( NP ( NN software ) ) ) ) ( CC and ) ( NP ( NP ( DT an ) ( JJ optical ) ( JJ data-storage ) ( NN device ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD was ) ( ADJP-PRD ( RB too ) ( JJ slow ) ) ) ) ) ) ) ) ) ) )

But the computer was proving a hard sell because of its high price a lack of software and an optical data-storage device that was too slow


( S ( NP-SBJ ( DT The ) ( NN machine ) ) ( VP ( VBD began ) ( NP ( VBG shipping ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( JJ last ) ( NN year ) ) ) ) ) ) )

The machine began shipping at the end of last year


( S ( NP-SBJ ( DT The ) ( ADJP ( RB closely ) ( VBN held ) ) ( NN company ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN disclosed ) ( NP ( NNS sales ) ) ) ) )

The closely held company has n't disclosed sales


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( JJS most ) ( NNS universities ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN bought ) ( NP ( DT the ) ( NNS machines ) ) ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG buying ) ( NP ( JJ small ) ( NNS numbers ) ) ( PP-PRP ( IN for ) ( NP ( NN evaluation ) ( NNS purposes ) ) ) ) ) ) ) ) )

However most universities that have bought the machines say they are buying small numbers for evaluation purposes


( S ( NP-SBJ ( NNS Universities ) ) ( VP ( MD can ) ( ADVP-TMP ( RB now ) ) ( VP ( VB buy ) ( NP ( NP ( DT a ) ( NNP Next ) ( NN computer ) ) ( PP ( IN without ) ( NP ( DT an ) ( JJ optical ) ( NN storage ) ( NN device ) ) ) ) ( PP-CLR ( IN for ) ( NP ( CD 4,995 ) ) ) ) ) )

Universities can now buy a Next computer without an optical storage device for 4,995


( S ( S ( NP-SBJ ( NP ( DT A ) ( NN computer ) ) ( PP ( IN with ) ( NP ( DT the ) ( JJ optical ) ( NN device ) ) ) ) ( VP ( MD will ) ( ADVP-TMP ( RB still ) ) ( VP ( VB cost ) ( NP ( CD 6,495 ) ) ) ) ) ( CC but ) ( S ( PP-TMP ( PP ( IN from ) ( NP ( RB now ) ) ) ( ADVP ( RB on ) ) ) ( NP-SBJ ( NNP Next ) ) ( VP ( MD will ) ( VP ( VP ( VB outfit ) ( NP ( DT every ) ( NN computer ) ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( JJ hard ) ( NN drive ) ) ) ) ( CC and ) ( VP ( VB supply ) ( NP ( CD one ) ) ( PP ( IN at ) ( NP ( DT no ) ( NN cost ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT those ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP have ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN bought ) ( NP ( NNP Next ) ( NNS machines ) ) ) ) ) ) ) ) ) ) ) ) )

A computer with the optical device will still cost 6,495 but from now on Next will outfit every computer with a hard drive and supply one at no cost to those who have already bought Next machines


( S ( NP-SBJ ( JJ Commercial ) ( NNS customers ) ) ( VP ( MD can ) ( VP ( VB purchase ) ( NP ( DT the ) ( JJ same ) ( NN system ) ) ( PP ( IN through ) ( NP ( NP ( NNP Businessland ) ( NNP Inc. ) ) ( NP ( NP ( DT a ) ( NN computer ) ( NN retailer ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP San ) ( NNP Jose ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( QP ( RB roughly ) ( CD 3,000 ) ) ) ( ADJP ( JJR more ) ) ) ) ) ) )

Commercial customers can purchase the same system through Businessland Inc. a computer retailer based in San Jose Calif. for roughly 3,000 more


( S ( NP-SBJ ( NNP Mr. ) ( NNP Jobs ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NNS changes ) ) ( VP ( VBD were ) ( VP ( VBN prompted ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS requests ) ) ( PP ( IN from ) ( NP ( NP ( NNS customers ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBN frustrated ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NN performance ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ optical ) ( NN device ) ) ( SBAR ( WHNP-4 ( WDT which ) ) ( S ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN offered ) ( PP ( IN as ) ( NP ( JJ standard ) ( NN equipment ) ) ) ( PP ( IN by ) ( NP-LGS ( DT any ) ( NNS rivals ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Jobs said the changes were prompted by requests from customers who are frustrated with the performance of the optical device which is n't offered as standard equipment by any rivals


( S ( S-TPC-2 ( NP-SBJ ( DT Another ) ( NN factor ) ) ( VP ( VBD was ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( NNS customers ) ) ( VP ( VBD were ) ( VP ( VBG asking ) ( SBARQ ( WHADVP-1 ( WRB Why ) ) ( SQ ( VBP do ) ( RB n't ) ( NP-SBJ ( PRP you ) ) ( VP ( VB give ) ( NP ( PRP us ) ) ( NP ( DT a ) ( JJR cheaper ) ( NN system ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Jobs ) ) ( VP ( VBD said ) ( PP-LOC ( IN at ) ( NP ( NP ( DT a ) ( NN conference ) ) ( PP ( IN on ) ( NP ( NN university ) ( NN computing ) ) ) ( ADVP-LOC ( RB here ) ) ) ) ) )

Another factor was that customers were asking Why do n't you give us a cheaper system Mr. Jobs said at a conference on university computing here


( S ( NP-SBJ ( JJ Optical-storage ) ( NNS devices ) ) ( VP ( VP ( MD can ) ( VP ( VB handle ) ( NP ( NP ( ADJP ( RB very ) ( JJ large ) ) ( NNS amounts ) ) ( PP ( IN of ) ( NP ( NNS data ) ) ) ) ) ) ( CC and ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( RB far ) ( JJR easier ) ) ( S-1 ( VP ( TO to ) ( VP ( VB edit ) ( NP ( NP ( NN film ) ( NNS clips ) ) ( CC or ) ( NP ( JJ audio ) ( NNS recordings ) ) ) ( PP ( IN with ) ( NP ( DT a ) ( NN computer ) ) ) ) ) ) ) ) ) )

Optical-storage devices can handle very large amounts of data and make it far easier to edit film clips or audio recordings with a computer


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN technology ) ) ( SBAR-ADV ( IN while ) ( FRAG ( ADJP-PRD ( JJ reliable ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( RB far ) ( JJR slower ) ) ( PP ( IN than ) ( NP ( DT the ) ( ADJP ( RB widely ) ( VBN used ) ) ( JJ hard ) ( NNS drives ) ) ) ) ) )

But the technology while reliable is far slower than the widely used hard drives


( S ( S-PRP ( VP ( TO To ) ( VP ( VB get ) ( PP-CLR ( IN around ) ( NP ( NP ( DT the ) ( NNS delays ) ) ( VP ( VBN caused ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ optical ) ( NN device ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NP ( NNP Businessland ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( NNP Next ) ( POS 's ) ) ( JJ exclusive ) ( NN dealer ) ) ( PP ( TO to ) ( NP ( NNS corporations ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( PP-TMP ( IN for ) ( NP ( NNS months ) ) ) ( VP ( VBN been ) ( VP ( VBG advising ) ( NP-3 ( NNS customers ) ) ( S ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( JJ hard ) ( NNS drives ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNS machines ) ) ) ) ) ) ) ) ) )

To get around the delays caused by the optical device Businessland which is Next 's exclusive dealer to corporations has for months been advising customers to purchase hard drives with the machines


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( NNP Next ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB rely ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( JJR more-established ) ( JJ hard ) ( NN drive ) ) ) ( PP-LOC ( IN in ) ( NP ( DT every ) ( NNP Next ) ( NN computer ) ) ) ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB signal ) ( NP ( NP ( DT a ) ( NN retreat ) ) ( PP ( IN from ) ( NP ( JJ optical ) ( NN storage ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Jobs ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ( VP ( VBZ has ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT this ) ( NN technology ) ) ( VP ( MD will ) ( VP ( VB play ) ( NP ( DT a ) ( JJ crucial ) ( NN role ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ next ) ( NN decade ) ) ) ) ) ) ) ) ) ) ) ) )

Next 's decision to rely on the more-established hard drive in every Next computer does n't signal a retreat from optical storage said Mr. Jobs who for years has said this technology will play a crucial role in the next decade


( S ( S-TPC-1 ( NP-SBJ-2 ( PRP We ) ) ( VP ( VBP 're ) ( VP ( ADVP-MNR ( RB extremely ) ) ( VBN committed ) ( PP-CLR ( TO to ) ( NP ( JJ optical ) ( NN storage ) ( NN technology ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

We 're extremely committed to optical storage technology he said


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NN everything ) ) ( VP ( MD will ) ( VP ( VB go ) ( NP-DIR ( DT this ) ( NN way ) ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( JJ few ) ( NNS years ) ) ) ) ) ) ) ) )

We think everything will go this way in a few years