( S ( NP-SBJ ( NP ( NNP Judge ) ( NNP Hastings ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBD was ) ( VP ( VBN acquitted ) ( PP-CLR ( IN of ) ( NP ( JJ similar ) ( NNS charges ) ) ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( JJ federal ) ( NN jury ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ) ) ) ) ) ( VP ( VBZ claims ) ( SBAR ( SBAR ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN victimized ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN impeachment ) ( NNS proceedings ) ) ( PP ( IN against ) ( NP ( PRP him ) ) ) ) ( VP ( VBP constitute ) ( NP ( JJ double ) ( NN jeopardy ) ) ) ) ) ) ) )

Judge Hastings who was acquitted of similar charges by a federal jury in 1983 claims he is being victimized and that the impeachment proceedings against him constitute double jeopardy


( S ( CC But ) ( NP-SBJ ( NP ( NP ( NNP Rep. ) ( NNP John ) ( NNP Bryant ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP Texas ) ) ) ) ) ( NP ( NP ( DT the ) ( JJ lead ) ( NN counsel ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNP House ) ( NNS managers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD conducted ) ( NP ( NP ( DT a ) ( JJ lengthy ) ( NN inquiry ) ) ( PP ( IN into ) ( NP ( NP ( NNP Judge ) ( NNP Hastings ) ( POS ' ) ) ( NNS activities ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( NP ( DT a ) ( NN mountain ) ) ( PP ( IN of ) ( NP ( NN evidence ) ) ) ) ( VP ( VBZ points ) ( PP-CLR ( TO to ) ( NP ( PRP$ his ) ( JJ certain ) ( NN guilt ) ) ) ) ) ) )

But Rep. John Bryant D. Texas the lead counsel for the House managers who conducted a lengthy inquiry into Judge Hastings ' activities said a mountain of evidence points to his certain guilt


( S ( NP-SBJ-1 ( DT The ) ( NNP Senate ) ) ( VP ( VP ( MD will ) ( VP ( VB deliberate ) ( PP-LOC ( IN behind ) ( NP ( JJ closed ) ( NNS doors ) ) ) ( NP-TMP ( NN today ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( S ( VP ( TO to ) ( VP ( VB vote ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN impeachment ) ) ) ( NP-TMP ( NN tomorrow ) ) ) ) ) ) ) ) )

The Senate will deliberate behind closed doors today and is scheduled to vote on the impeachment tomorrow


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-1 ( DT the ) ( NN judge ) ) ( VP ( VBZ is ) ( VP ( VBN impeached ) ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( VP ( VBZ is ) ( VP ( VBN thought ) ( S ( ADJP-PRD ( RB likely ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP he ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN removed ) ( PP-DIR ( IN from ) ( NP ( NN office ) ) ) ( ADVP-TMP ( RB immediately ) ) ) ) ) )

If the judge is impeached as is thought likely he will be removed from office immediately


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NNP Judge ) ( NNP Hastings ) ) ( VP ( VBZ has ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB fight ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBG contemplating ) ( NP ( NP ( DT an ) ( NN appeal ) ) ( PP ( IN of ) ( NP ( DT any ) ( NN impeachment ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP U.S. ) ( NNP Supreme ) ( NNP Court ) ) ) ) ) ) ) ) ) ) ) )

However Judge Hastings has said he will continue to fight and is contemplating an appeal of any impeachment to the U.S. Supreme Court


( S-HLN ( NP-SBJ ( NP ( NNS COMPANIES ) ) ( VP ( VBG SEEKING ) ( S ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( NNS insurers ) ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( NN pollution ) ( NN cleanup ) ) ) ) ) ) ) ) ) ) ( VP ( VBP win ) ( NP ( NN court ) ( NN victory ) ) ) )

COMPANIES SEEKING to make insurers pay for pollution cleanup win court victory


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN case ) ) ( VP ( VBG involving ) ( NP ( NP ( NNP Avondale ) ( NNPS Industries ) ( NNP Inc. ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN insurer ) ) ( NP ( NNP Travelers ) ( NNPS Cos. ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Second ) ( NNP U.S. ) ( NNP Circuit ) ( NNP Court ) ) ( PP ( IN of ) ( NP ( NNPS Appeals ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ( VP ( VBD ruled ) ( PP-MNR ( IN in ) ( NP ( NP ( NN favor ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( CD two ) ( NNS issues ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNS lawyers ) ) ( VP ( VBP say ) ( SBAR ( S ( VP ( VBP are ) ( ADJP-PRD ( JJ central ) ( PP ( TO to ) ( NP ( NP ( NNS dozens ) ) ( PP ( IN of ) ( NP ( NP ( NN pollution ) ( NNS cases ) ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN country ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In a case involving Avondale Industries Inc. and its insurer Travelers Cos. the Second U.S. Circuit Court of Appeals in New York ruled in favor of the company on two issues that lawyers say are central to dozens of pollution cases around the country


( S ( NP-SBJ ( NP ( NNP Travelers ) ) ( CC and ) ( NP ( JJ other ) ( NNS insurers ) ) ) ( VP ( VBP have ) ( VP ( VBN maintained ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NN cleanup ) ( NNS costs ) ) ( VP ( VP ( VBP are ) ( RB n't ) ( NP-PRD ( NNS damages ) ) ) ( CC and ) ( ADVP ( RB thus ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN covered ) ( PP-LOC ( IN under ) ( NP ( JJ commercial ) ( NNS policies ) ) ) ) ) ) ) ) ) ) )

Travelers and other insurers have maintained that cleanup costs are n't damages and thus are n't covered under commercial policies


( S ( S-TPC-2 ( S ( NP-SBJ ( PRP They ) ) ( ADVP ( RB also ) ) ( VP ( VBP have ) ( VP ( VBN argued ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN government ) ( NNS proceedings ) ) ( VP ( VBG notifying ) ( NP ( DT a ) ( NN company ) ) ( PP-CLR ( IN of ) ( NP ( JJ potential ) ( NN responsibility ) ) ) ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB fit ) ( NP ( NP ( DT the ) ( JJ legal ) ( NN definition ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN lawsuit ) ) ) ) ) ) ) ) ) ) ) ( S ( ADVP ( RB thus ) ) ( NP-SBJ-1 ( JJ such ) ( JJ governmental ) ( NNS proceedings ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN covered ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNS policies ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS insurers ) ) ( VP ( VBP say ) ) )

They also have argued that government proceedings notifying a company of potential responsibility do n't fit the legal definition of a lawsuit thus such governmental proceedings are n't covered by the policies the insurers say


( S ( NP-SBJ ( DT The ) ( NNS appeals ) ( NN court ) ) ( VP ( VBD disagreed ) ( PP ( IN on ) ( NP ( DT both ) ( NNS counts ) ) ) ) )

The appeals court disagreed on both counts


( S ( NP-SBJ-1 ( NNP Avondale ) ) ( VP ( VBD was ) ( VP ( VBN notified ) ( PP ( IN by ) ( NP-LGS ( NNP Louisiana ) ( NNS officials ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB potentially ) ( JJ responsible ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN cleanup ) ) ( PP-LOC ( IN at ) ( NP ( DT an ) ( NN oil-recycling ) ( NN plant ) ) ) ) ) ) ) ) ) ) )

Avondale was notified by Louisiana officials in 1986 that it was potentially responsible for a cleanup at an oil-recycling plant


( S ( S ( NP-SBJ ( NNP Avondale ) ) ( VP ( VBD asked ) ( NP-1 ( NNP Travelers ) ) ( S ( VP ( TO to ) ( VP ( VB defend ) ( NP ( PRP it ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN state ) ( NN proceeding ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN insurer ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( NN respond ) ) ) ) )

Avondale asked Travelers to defend it in the state proceeding but the insurer did n't respond


( S ( NP-SBJ ( DT The ) ( NNS appeals ) ( NN court ) ) ( VP ( VBD upheld ) ( NP ( NP ( DT a ) ( NN district ) ( NN judge ) ( POS 's ) ) ( NN ruling ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN insurer ) ) ( VP ( VBD had ) ( VP ( TO to ) ( VP ( VB defend ) ( NP ( DT the ) ( NN company ) ) ( PP-LOC ( IN in ) ( NP ( JJ such ) ( NNS proceedings ) ) ) ) ) ) ) ) ) ) )

The appeals court upheld a district judge 's ruling that the insurer had to defend the company in such proceedings


( S ( NP-SBJ ( DT The ) ( NNS appeals ) ( NN court ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NP ( DT an ) ( JJ ordinary ) ( NN businessman ) ) ( VP ( VBG reading ) ( NP ( DT this ) ( NN policy ) ) ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN believed ) ( S ( NP-SBJ ( PRP himself ) ) ( ADJP-PRD ( JJ covered ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NX ( NX ( NNS demands ) ) ( CC and ) ( NX ( JJ potential ) ( NN damage ) ( NNS claims ) ) ) ) ( VP ( VBG stemming ) ( PP-CLR ( IN from ) ( NP ( DT any ) ( NN cleanup ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The appeals court also said We think an ordinary businessman reading this policy would have believed himself covered for the demands and potential damage claims stemming from any cleanup


( S-2 ( NP-SBJ ( DT This ) ( NN decision ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( DT a ) ( ADJP ( RB very ) ( JJ considerable ) ) ( NN impact ) ) ( PRN ( SINV ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Kenneth ) ( NNP Abraham ) ) ( NP ( NP ( NN professor ) ) ( PP ( IN of ) ( NP ( NP ( JJ environmental ) ( NN law ) ) ( CC and ) ( NP ( NN insurance ) ( NN law ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP Virginia ) ) ) ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( JJ many ) ( JJ commercial ) ( NN insurance ) ( NNS policies ) ) ( VP ( VBP are ) ( VP ( VBN issued ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS companies ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ) ) ) ) ) )

This decision will have a very considerable impact said Kenneth Abraham professor of environmental law and insurance law at the University of Virginia because many commercial insurance policies are issued by companies based in New York


( S ( NP-SBJ ( NP ( NNP William ) ( NNP Greaney ) ) ( NP ( NP ( DT an ) ( NN attorney ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Chemical ) ( NNPS Manufacturers ) ( NNP Association ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( JJ other ) ( NNS appeals ) ( NNS courts ) ) ( VP ( VBP have ) ( VP ( VBN ruled ) ( ADVP-MNR ( RB differently ) ) ( PP ( IN on ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NN cleanup ) ( NNS costs ) ) ( VP ( VBP are ) ( NP-PRD ( NNS damages ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN influence ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS appeals ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB make ) ( S ( NP-SBJ ( NNS insurers ) ) ( VP ( VP ( VB sit ) ( ADVP-CLR ( RB up ) ) ) ( CC and ) ( VP ( VB listen ) ) ) ) ) ) ) ) ) )

William Greaney an attorney for the Chemical Manufacturers Association said that while other appeals courts have ruled differently on whether cleanup costs are damages the influence of the appeals court in New York will make insurers sit up and listen


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN decision ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ) ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( DT a ) ( JJ federal ) ( NNS appeals ) ( NN court ) ) ( VP ( VBZ has ) ( VP ( VBN ruled ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( JJ administrative ) ( NN government ) ( NNS proceedings ) ) ( VP ( VBP qualify ) ( PP-CLR ( IN as ) ( NP ( NN litigation ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said the decision was the first in which a federal appeals court has ruled whether administrative government proceedings qualify as litigation


( S ( NP-SBJ ( NP ( NNP Barry ) ( NNP R. ) ( NNP Ostrager ) ) ( NP ( NP ( DT an ) ( NN attorney ) ) ( PP ( IN for ) ( NP ( NNP Travelers ) ) ) ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( JJ procedural ) ( NNS bases ) ) ( SBAR ( WHPP-2 ( IN on ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-1 ( DT this ) ( NN case ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN appealed ) ( ADVP ( RBR further ) ) ) ) ) ) ) ) ) ) ) )

Barry R. Ostrager an attorney for Travelers said there are procedural bases on which this case will be appealed further


( S-HLN ( NP-SBJ ( NP ( NNP NEW ) ( NNP YORK ) ( POS 'S ) ) ( JJ poor ) ) ( VP ( VBP face ) ( NP ( NP ( QP ( RB nearly ) ( CD three ) ( CD million ) ) ( JJ legal ) ( NNS problems ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ( PP ( IN without ) ( NP ( JJ legal ) ( NN help ) ) ) ) )

NEW YORK 'S poor face nearly three million legal problems a year without legal help


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN conclusion ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN report ) ) ( VP ( VBN released ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP New ) ( NNP York ) ( NNP State ) ( NNP Bar ) ( NNP Association ) ) ) ) ) ) ) ) )

That is the conclusion of a report released by the New York State Bar Association


( S ( NP-SBJ-1 ( DT The ) ( NN report ) ) ( VP ( VBD was ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NP ( NP ( DT a ) ( NN telephone ) ( NN survey ) ) ( PP ( IN of ) ( NP ( NP ( CD 1,250 ) ( JJ low-income ) ( NNS households ) ) ( PP-LOC ( IN across ) ( NP ( DT the ) ( NN state ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN mail ) ( NN survey ) ) ( PP ( IN of ) ( NP ( JJ major ) ( NNS legal-services ) ( NNS programs ) ) ) ) ( CC and ) ( NP ( NP ( JJ on-site ) ( NNS interviews ) ) ( PP ( IN with ) ( NP ( NP ( NNS individuals ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN field ) ) ) ) ) ) ) ) ) ) )

The report was based on a telephone survey of 1,250 low-income households across the state a mail survey of major legal-services programs and on-site interviews with individuals in the field


( SINV ( S-TPC-4 ( NP-SBJ ( DT The ) ( NN report ) ) ( VP ( VP ( VBZ provides ) ( NP ( NP ( JJ detailed ) ( NN documentation ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN extent ) ( CC and ) ( NN nature ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN problem ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ indicates ) ( SBAR ( WHADVP-3 ( WRB how ) ) ( S ( NP-SBJ-2 ( PRP we ) ) ( VP ( MD may ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB shape ) ( NP ( NNS solutions ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Joseph ) ( NNP Genova ) ) ( NP ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN committee ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VB oversaw ) ( NP ( DT the ) ( NN survey ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN partner ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN law ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP Milbank ) ( NNP Tweed ) ( NNP Hadley ) ( CC & ) ( NNP McCloy ) ) ) ) ) ) ) ) )

The report provides detailed documentation of the extent and nature of the problem and indicates how we may want to shape solutions said Joseph Genova chairman of the committee that oversaw the survey and a partner at the law firm of Milbank Tweed Hadley & McCloy


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( DT the ) ( NN study ) ) ) ) ( NP-SBJ-2 ( NP ( QP ( RB slightly ) ( JJR more ) ( IN than ) ( CD 34 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT those ) ) ( VP ( VBN surveyed ) ) ) ) ) ( VP ( VBD reported ) ( S ( VP ( VBG having ) ( NP ( NP ( QP ( IN at ) ( JJS least ) ( CD one ) ) ( NN housing ) ( NN problem ) ) ) ( NP-TMP ( DT every ) ( NN year ) ) ( SBAR-1 ( WHPP-3 ( IN for ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD had ) ( NP ( DT no ) ( JJ legal ) ( NN help ) ) ) ) ) ) ) ) )

According to the study slightly more than 34 % of those surveyed reported having at least one housing problem every year for which they had no legal help


( S ( NP-SBJ ( QP ( RB Nearly ) ( CD 36 ) ) ( NN % ) ) ( VP ( VBD ranked ) ( NP ( NN housing ) ( NNS problems ) ) ( PP-CLR ( IN as ) ( NP ( PRP$ their ) ( ADJP ( RBS most ) ( JJ serious ) ) ( JJ unmet ) ( JJ legal ) ( NN need ) ) ) ) )

Nearly 36 % ranked housing problems as their most serious unmet legal need


( S ( NP-SBJ ( NP ( JJ Other ) ( NNS areas ) ) ( VP ( VBN targeted ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN survey ) ( POS 's ) ) ( NNS respondents ) ) ) ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( NN difficulty ) ) ( S-NOM ( VP ( VBG obtaining ) ( CC or ) ( VBG maintaining ) ( NP ( JJ public ) ( NNS benefits ) ) ) ) ( PRN ( NP ( CD 22 ) ( NN % ) ) ) ) ( NP ( NP ( NN consumer ) ( NN fraud ) ) ( PRN ( NP ( CD 15.4 ) ( NN % ) ) ) ) ( CC and ) ( NP ( NP ( NN health-care ) ( NNS issues ) ) ( PRN ( NP ( CD 15 ) ( NN % ) ) ) ) ) ) )

Other areas targeted by the survey 's respondents included difficulty obtaining or maintaining public benefits 22 % consumer fraud 15.4 % and health-care issues 15 %


( S ( PP-TMP ( IN During ) ( NP ( DT the ) ( JJ 15-month ) ( NN survey ) ) ) ( NP-SBJ ( NP ( CD 43 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT all ) ( NNS legal-services ) ( NNS programs ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN at ) ( NP ( DT some ) ( NN period ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ unable ) ( S ( VP ( TO to ) ( VP ( VB accept ) ( NP ( JJ new ) ( NNS clients ) ) ) ) ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD had ) ( NP ( DT an ) ( NN emergency ) ) ) ) ) ) ) ) ) )

During the 15-month survey 43 % of all legal-services programs said that at some period they were unable to accept new clients unless they had an emergency


( S ( NP-SBJ ( NNP Mr. ) ( NNP Genova ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN committee ) ) ( VP ( MD may ) ( VP ( VB meet ) ( S-PRP ( VP ( TO to ) ( VP ( VB propose ) ( NP ( NP ( NNS solutions ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNS problems ) ) ( VP ( VBN identified ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN study ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Genova said the committee may meet to propose solutions to the problems identified in the study


( S-HLN ( NP-SBJ ( NN PROSECUTOR ) ) ( VP ( TO TO ) ( VP ( VB JOIN ) ( NP ( NNP Gibson ) ( NNP Dunn ) ) ) ) )

PROSECUTOR TO JOIN Gibson Dunn


( S ( NP-SBJ ( NP ( NNP Assistant ) ( NNP U.S. ) ( NNP Attorney ) ( NNP Randy ) ( NNP Mastro ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD headed ) ( NP ( NP ( NP ( DT the ) ( NN government ) ( POS 's ) ) ( NN racketeering ) ( NN case ) ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NNP International ) ( NNP Brotherhood ) ) ( PP ( IN of ) ( NP ( NNPS Teamsters ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB join ) ( NP ( NNP Gibson ) ( NNP Dunn ) ( CC & ) ( NNP Crutcher ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NNP New ) ( NNP York ) ( NN office ) ) ) ) ) )

Assistant U.S. Attorney Randy Mastro who headed the government 's racketeering case against the International Brotherhood of Teamsters will join Gibson Dunn & Crutcher in its New York office


( S ( NP-SBJ ( NNP Mr. ) ( NNP Mastro ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-PRD ( IN with ) ( NP ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP U.S. ) ( NN attorney ) ( POS 's ) ) ( NN office ) ) ) ( PP-TMP ( IN for ) ( NP ( QP ( RB nearly ) ( CD five ) ) ( NNS years ) ) ) ) ) )

Mr. Mastro has been with the New York U.S. attorney 's office for nearly five years


( S ( PP-TMP ( IN In ) ( NP ( CD 1987 ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD became ) ( NP-PRD ( NP ( NN deputy ) ( NN chief ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ civil ) ( NN division ) ) ) ) ) )

In 1987 he became deputy chief of the civil division


( S ( NP-SBJ ( NNP Mr. ) ( NNP Mastro ) ) ( VP ( MD will ) ( VP ( VB do ) ( NP ( NP ( JJ civil ) ( NN litigation ) ) ( CC and ) ( NP ( JJ white-collar ) ( NN defense ) ( NN work ) ) ) ( PP ( IN for ) ( NP ( NP ( NNP Gibson ) ( NNP Dunn ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ) ) ) ) ) ) ) ) )

Mr. Mastro will do civil litigation and white-collar defense work for Gibson Dunn which is based in Los Angeles


( S-HLN ( NP-SBJ ( JJ FORMER ) ( NNP APPLE ) ( NNP COMPUTER ) ( NNP Inc. ) ( JJ general ) ( NN counsel ) ( NNP John ) ( NNP P. ) ( NNP Karalis ) ) ( VP ( VBZ has ) ( VP ( VBN joined ) ( NP ( NP ( DT the ) ( NAC-LOC ( NNP Phoenix ) ( NNP Ariz. ) ) ( NN law ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP Brown ) ( CC & ) ( NNP Bain ) ) ) ) ) ) )

FORMER APPLE COMPUTER Inc. general counsel John P. Karalis has joined the Phoenix Ariz. law firm of Brown & Bain


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Karalis ) ) ( NP ( CD 51 ) ) ) ( VP ( MD will ) ( VP ( VB specialize ) ( PP-CLR ( IN in ) ( NP ( NP ( JJ corporate ) ( NN law ) ) ( CC and ) ( NP ( JJ international ) ( NN law ) ) ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ 110-lawyer ) ( NN firm ) ) ) ) ) )

Mr. Karalis 51 will specialize in corporate law and international law at the 110-lawyer firm


( S ( PP-TMP ( IN Before ) ( S-NOM ( VP ( VBG joining ) ( NP ( NNP Apple ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Karalis ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( JJ general ) ( NN counsel ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Sperry ) ( NNP Corp ) ) ) ) )

Before joining Apple in 1986 Mr. Karalis served as general counsel at Sperry Corp


( S ( NP-SBJ-1 ( NNS Insurers ) ) ( VP ( VBP face ) ( NP ( NP ( DT the ) ( NN prospect ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG paying ) ( PRT ( RP out ) ) ( NP ( NP ( NNS billions ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NNS damages ) ) ( VP ( VBN caused ) ( PP ( IN by ) ( NP-LGS ( NP ( DT this ) ( NN week ) ( POS 's ) ) ( NNP California ) ( NN earthquake ) ) ) ) ) ) ) ) ) ) ) )

Insurers face the prospect of paying out billions of dollars for damages caused by this week 's California earthquake


( S ( S-NOM-SBJ ( VP ( VBG Getting ) ( NP ( DT a ) ( NN grip ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN extent ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS damages ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG proving ) ( NP-PRD ( NP ( DT a ) ( ADJP ( ADVP ( RB far ) ( RBR more ) ) ( JJ difficult ) ) ( NN task ) ) ( PP ( IN than ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NNS insurers ) ) ( VP ( VBN faced ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Hurricane ) ( NNP Hugo ) ) ( VP ( VBD ripped ) ( PP-DIR ( IN through ) ( NP ( NP ( DT the ) ( NNP Caribbean ) ) ( CC and ) ( NP ( DT the ) ( NNPS Carolinas ) ) ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ) ) ) ) ) ) ) ) ) ) )

Getting a grip on the extent of the damages is proving a far more difficult task than what insurers faced after Hurricane Hugo ripped through the Caribbean and the Carolinas last month


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( NP ( DT The ) ( NN earthquake ) ( POS 's ) ) ( NN toll ) ) ( PP ( VBG including ) ( NP ( JJ possible ) ( JJ deep ) ( JJ structural ) ( NN damage ) ) ) ) ( VP ( VBZ goes ) ( PP-DIR ( ADVP ( RB far ) ) ( IN beyond ) ( NP ( NP ( DT the ) ( ADJP ( ADVP ( RBR more ) ( RB easily ) ) ( JJ observed ) ) ( NN damage ) ) ( PP ( IN from ) ( NP ( DT a ) ( NN hurricane ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP George ) ( NNP Reider ) ) ( NP ( NP ( DT a ) ( NN vice ) ( NN president ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Aetna ) ( NNP Life ) ( CC & ) ( NNP Casualty ) ( NNP Insurance ) ( NNP Co. ) ( POS 's ) ) ( NNS claims ) ( NN division ) ) ) ) ) )

The earthquake 's toll including possible deep structural damage goes far beyond the more easily observed damage from a hurricane says George Reider a vice president in Aetna Life & Casualty Insurance Co. 's claims division


( S ( CC But ) ( NP-SBJ ( NNS investors ) ) ( VP ( VBP are ) ( VP ( VBG betting ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( ADJP ( JJ financial ) ( CC and ) ( JJ psychological ) ) ( NN impact ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN earthquake ) ) ) ) ( S-ADV ( VP ( VBG coming ) ( PP-TMP ( ADVP ( RB so ) ( RB soon ) ) ( IN after ) ( NP ( DT the ) ( NN hurricane ) ) ) ) ) ( VP ( MD will ) ( VP ( VB help ) ( S ( VP ( NN stem ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD two ) ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NP ( JJ intense ) ( JJ price-cutting ) ( NNS wars ) ) ( PP-LOC ( IN among ) ( NP ( NN business ) ( NNS insurers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But investors are betting that the financial and psychological impact of the earthquake coming so soon after the hurricane will help stem more than two years of intense price-cutting wars among business insurers


( S ( S-ADV ( VP ( VBG Reflecting ) ( NP ( DT that ) ( NN logic ) ) ) ) ( NP-SBJ-1 ( NN insurance-company ) ( NNS stocks ) ) ( VP ( VBD posted ) ( NP ( JJ strong ) ( NNS gains ) ) ) )

Reflecting that logic insurance-company stocks posted strong gains


( S ( NP-SBJ ( NP ( NNP Aetna ) ) ( CC and ) ( NP ( JJ other ) ( NNS insurers ) ) ) ( VP ( VBP are ) ( VP ( VBG hiring ) ( NP ( NP ( NNS engineers ) ( CC and ) ( NNS architects ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB help ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( VB assess ) ( NP ( JJ structural ) ( NN damage ) ) ) ) ) ) ) ) ) ) ) )

Aetna and other insurers are hiring engineers and architects to help them assess structural damage


( S ( NP-SBJ ( JJS Most ) ( NNS insurers ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBP have ) ( VP ( VBN mobilized ) ( NP-1 ( PRP$ their ) ( NN catastrophe ) ( NNS teams ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG processing ) ( NP ( NP ( NNS claims ) ) ( PP ( IN from ) ( NP ( NP ( PRP$ their ) ( NNS policyholders ) ) ( PP-LOC ( IN in ) ( NP ( JJ northern ) ( NNP California ) ) ) ) ) ) ) ) ) ) ) ) ) )

Most insurers already have mobilized their catastrophe teams to begin processing claims from their policyholders in northern California


( S ( SBAR-PRP ( IN Since ) ( S ( NP-SBJ-3 ( JJ commercial ) ( NN air ) ( NN travel ) ) ( VP ( VBZ is ) ( VP ( JJ interrupted ) ) ) ) ) ( NP-SBJ ( NP ( NNP Aetna ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Hartford ) ) ( NP ( NNP Conn. ) ) ) ) ) ) ( VP ( VP ( VBD chartered ) ( NP ( NP ( CD three ) ( NNS planes ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB fly ) ( NP ( NNS claims ) ( NNS adjusters ) ) ( PP-DIR ( IN into ) ( NP ( NNP Sacramento ) ) ) ) ) ) ) ) ) ( CC and ) ( RB then ) ( VP ( VBD planned ) ( SBAR ( IN for ) ( S ( NP-SBJ-1 ( PRP them ) ) ( VP ( TO to ) ( S ( VP ( VB drive ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NNP Bay ) ( NN area ) ) ) ) ) ) ) ) ) ) )

Since commercial air travel is interrupted Aetna based in Hartford Conn. chartered three planes to fly claims adjusters into Sacramento and then planned for them to drive to the Bay area


( S ( NP-SBJ-1 ( NP ( QP ( IN About ) ( CD 25 ) ) ( NNS adjusters ) ) ) ( VP ( VBD were ) ( VP ( VBN dispatched ) ( NP-TMP ( RB yesterday ) ( NN afternoon ) ) ( PP-2 ( IN along ) ( PP ( IN with ) ( NP ( NP ( NN laptop ) ( NNS computers ) ) ( NP ( JJ cellular ) ( NNS phones ) ) ( CC and ) ( NP ( JJ blank ) ( NNS checks ) ) ) ) ) ) ) )

About 25 adjusters were dispatched yesterday afternoon along with laptop computers cellular phones and blank checks


( S ( NP-SBJ ( NP ( DT Some ) ( NNS adjusters ) ) ( PP-LOC ( ADVP-TMP ( RB already ) ) ( IN in ) ( NP ( NP ( JJ other ) ( NNS parts ) ) ( PP ( IN of ) ( NP ( NNP California ) ) ) ) ) ) ( VP ( VBD drove ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN disaster ) ( NN area ) ) ) ( PP ( IN with ) ( NP ( NP ( NP ( JJ recreational ) ( NNS vehicles ) ) ( CC and ) ( NP ( JJ mobile ) ( NNS homes ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN used ) ( PP-CLR ( IN as ) ( NP ( JJ makeshift ) ( NN claims-processing ) ( NNS centers ) ) ) ) ) ) ) ) ) ) ) )

Some adjusters already in other parts of California drove to the disaster area with recreational vehicles and mobile homes that could be used as makeshift claims-processing centers


( S ( NP-SBJ ( NNS Insurers ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG advertising ) ( NP ( NP ( CD 800 ) ( NNS numbers ) ) ( PRN ( PP-LOC ( ADVP ( RB probably ) ) ( IN on ) ( NP ( DT the ) ( NN radio ) ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ-2 ( NNS policyholders ) ) ( VP ( MD can ) ( VP ( VB call ) ( S-PRP ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( NN assistance ) ) ( PP ( IN on ) ( SBAR-NOM ( WHADVP-3 ( WRB how ) ) ( S ( VP ( TO to ) ( VP ( VB submit ) ( NP ( NNS claims ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Insurers will be advertising 800 numbers probably on the radio that policyholders can call to get assistance on how to submit claims


( S ( NP-SBJ ( NP ( NNP State ) ( NNP Farm ) ( NNP Mutual ) ( NNP Automobile ) ( NNP Insurance ) ( NNP Co. ) ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN home ) ( CC and ) ( NN auto ) ( NN insurer ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NNS losses ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN earthquake ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RB somewhat ) ( JJR less ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( QP ( CD 475 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( VBZ damages ) ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( PRT ( RP out ) ) ( PP ( IN for ) ( NP ( NP ( NNS claims ) ) ( VP ( VBG resulting ) ( PP-CLR ( IN from ) ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

State Farm Mutual Automobile Insurance Co. the largest home and auto insurer in California believes the losses from the earthquake could be somewhat less than the 475 million in damages it expects to pay out for claims resulting from Hurricane Hugo


( S ( NP-SBJ ( NP ( NNP State ) ( NNP Farm ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Bloomington ) ) ( NP ( NNP Ind. ) ) ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( DT the ) ( JJS largest ) ( NN writer ) ) ( PP ( IN of ) ( NP ( NN personal-property ) ( NN earthquake ) ( NN insurance ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ) ) )

State Farm based in Bloomington Ind. is also the largest writer of personal-property earthquake insurance in California


( S ( NP-SBJ-1 ( NN Earthquake ) ( NN insurance ) ) ( VP ( VBZ is ) ( VP ( VBN sold ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( JJ separate ) ( NN policy ) ) ( CC or ) ( NP ( NP ( DT a ) ( JJ specific ) ( NN endorsement ) ( NN rider ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT a ) ( NN homeowner ) ( POS 's ) ) ( NN policy ) ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN area ) ( POS 's ) ) ( NN vulnerability ) ) ( PP ( TO to ) ( NP ( NNS earthquakes ) ) ) ) ) ) ) )

Earthquake insurance is sold as a separate policy or a specific endorsement rider on a homeowner 's policy in California because of the area 's vulnerability to earthquakes


( S ( NP-SBJ ( NNP State ) ( NNP Farm ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( QP ( IN about ) ( CD 25 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNS policyholders ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ) ) ) ( VP ( VBP have ) ( ADVP ( RB also ) ) ( VP ( VBN purchased ) ( NP ( NN earthquake ) ( NN insurance ) ) ) ) ) ) ) )

State Farm said about 25 % of its policyholders in California have also purchased earthquake insurance


( S ( NP-SBJ ( NP ( NNP Allstate ) ( NNP Insurance ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Sears ) ( NNP Roebuck ) ( CC & ) ( NNP Co. ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( QP ( IN about ) ( CD 23 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ personal ) ( NN property ) ( NNS policyholders ) ) ) ) ( PRN ( NP ( NP ( QP ( IN about ) ( CD 28 ) ) ( NN % ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP San ) ( NNP Franciso ) ( NN area ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VB have ) ( NP ( NN earthquake ) ( NN coverage ) ) ) ) ) ) )

Allstate Insurance Co. a unit of Sears Roebuck & Co. said about 23 % of its personal property policyholders about 28 % in the San Franciso area also have earthquake coverage


( S ( S-TPC-2 ( S ( NP-SBJ ( NP ( DT The ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNP California ) ( NNP Insurance ) ( NNPS Companies ) ) ) ) ( VP ( VBD estimated ) ( SBAR ( S ( NP-SBJ ( NP ( NN damage ) ) ( PP ( TO to ) ( NP ( JJ residential ) ( NN property ) ) ) ) ( VP ( MD could ) ( VP ( VB total ) ( NP ( QP ( CD 500 ) ( CD million ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( QP ( RB only ) ( CD 100 ) ( CD million ) ( TO to ) ( CD 150 ) ( CD million ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN insured ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD said ) ) )

The Association of California Insurance Companies estimated damage to residential property could total 500 million but only 100 million to 150 million is insured it said


( S ( NP-SBJ ( NP ( NNS Officials ) ) ( PP ( IN from ) ( NP ( NP ( NP ( DT the ) ( NNP American ) ( NNP Insurance ) ( NNP Association ) ( POS 's ) ) ( NN property-claim ) ( NN service ) ( NN division ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ coordinates ) ( NP ( NP ( DT the ) ( NNS efforts ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS claims ) ( NNS adjusters ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( NN area ) ) ) ( PP-TMP ( IN after ) ( NP ( DT a ) ( JJ natural ) ( NN disaster ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG flying ) ( PP-DIR ( TO to ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ( NP-TMP ( NN today ) ) ) ) ) )

Officials from the American Insurance Association 's property-claim service division which coordinates the efforts of the claims adjusters in an area after a natural disaster will be flying to San Francisco today


( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( VBP expect ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( JJ preliminary ) ( NN estimate ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS damages ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( NN day ) ( QP ( CC or ) ( CD two ) ) ) ) ) ) ) ) )

They expect to have a preliminary estimate of the damages in a day or two


( S ( NP-SBJ-1 ( NP ( NNS Roads ) ( CC and ) ( NNS bridges ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Bay ) ( NN area ) ) ) ) ( VP ( VBP appear ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN suffered ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ costly ) ) ( NN damage ) ) ) ) ) ) ) ) ) )

Roads and bridges in the Bay area appear to have suffered some of the most costly damage


( S ( NP-SBJ ( NP ( NNS Highways ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT the ) ( NN section ) ) ( PP ( IN of ) ( NP ( NN Interstate ) ( CD 880 ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD collapsed ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NN Oakland ) ) ) ) ) ) ( ADVP ( RB generally ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB have ) ( NP ( NN insurance ) ( NN coverage ) ) ) ) )

Highways such as the section of Interstate 880 that collapsed in Oakland generally do n't have insurance coverage


( S ( NP-SBJ ( NN Industry ) ( NNS officials ) ) ( VP ( VBP say ) ( SBAR ( S ( S ( NP-SBJ ( NP ( DT the ) ( NNP Bay ) ( NNP Bridge ) ) ( PRN ( PP ( IN unlike ) ( NP ( DT some ) ( NNS bridges ) ) ) ) ) ( VP ( VBZ has ) ( NP ( DT no ) ( NN earthquake ) ( NN coverage ) ) ( ADVP ( RB either ) ) ) ) ( IN so ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG repairing ) ( NP ( PRP it ) ) ) ) ) ) ( ADVP ( RB probably ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN paid ) ( PP ( IN out ) ( PP ( IN of ) ( NP ( NN state ) ( JJ general ) ( NN operating ) ( NNS funds ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Industry officials say the Bay Bridge unlike some bridges has no earthquake coverage either so the cost of repairing it probably would have to be paid out of state general operating funds


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( DT the ) ( NN bridge ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ charges ) ( NP ( NP ( DT a ) ( ADJP ( CD 1 ) ) ( NN toll ) ) ( NP-ADV ( DT each ) ( NN way ) ) ) ) ) ) ) ( VP ( VBZ does ) ( VP ( VB have ) ( NP ( NP ( NAC ( NN loss ) ( PP ( IN of ) ( NP ( NN income ) ) ) ) ( NN insurance ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB replace ) ( NP ( VBN lost ) ( NN revenue ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NP ( DT the ) ( NN operation ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN bridge ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ interrupted ) ) ( PP-TMP ( IN for ) ( NP ( QP ( JJR more ) ( IN than ) ( CD seven ) ) ( NNS days ) ) ) ) ) ) ) ) ) ) ) ) ) )

However the bridge which charges a 1 toll each way does have loss of income insurance to replace lost revenue if the operation of the bridge is interrupted for more than seven days


( S ( NP-SBJ-1 ( DT That ) ( NN coverage ) ) ( VP ( VBZ is ) ( VP ( VBN provided ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN syndicate ) ) ( PP ( IN of ) ( NP ( NN insurance ) ( NNS companies ) ) ) ( PP ( VBG including ) ( NP ( NP ( NP ( NP ( NNP Fireman ) ( POS 's ) ) ( NNP Fund ) ( NNP Corp. ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Novato ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Cigna ) ( NNP Corp. ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Philadelphia ) ) ) ) ) ) ) ) ) ) ) )

That coverage is provided by a syndicate of insurance companies including Fireman 's Fund Corp. based in Novato Calif. and Cigna Corp. based in Philadelphia


( S ( NP-SBJ-1 ( JJ Earthquake-related ) ( NNS claims ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB cause ) ( NP ( JJ significant ) ( JJ financial ) ( NNS problems ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN insurance ) ( NN industry ) ) ( PP ( IN as ) ( NP ( DT a ) ( NN whole ) ) ) ) ) ) ) ) ) ) )

Earthquake-related claims are n't expected to cause significant financial problems for the insurance industry as a whole


( S ( ADVP ( RB Instead ) ) ( PP ( ADVP ( RB even ) ) ( IN with ) ( NP ( NP ( DT the ) ( NNS liabilities ) ) ( PP ( IN of ) ( NP ( NP ( CD two ) ( JJ natural ) ( NNS disasters ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS weeks ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ total ) ( NN capital ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN industry ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( JJR higher ) ) ) ( PP-TMP ( IN at ) ( NP ( NN year ) ( NN end ) ) ) ( SBAR-2 ( IN than ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( PP-TMP ( IN at ) ( NP ( NN midyear ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Instead even with the liabilities of two natural disasters in recent weeks analysts said the total capital of the industry is likely to be higher at year end than it was at midyear


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( DT the ) ( NN earthquake ) ) ( VP ( MD could ) ( VP ( VB contribute ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( NN turnaround ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN insurance ) ( NN cycle ) ) ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( DT a ) ( NN couple ) ) ( PP ( IN of ) ( NP ( NNS ways ) ) ) ) ) ) ) )

Indeed the earthquake could contribute to a turnaround in the insurance cycle in a couple of ways


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ-2 ( NNS insurers ) ) ( VP ( MD may ) ( VP ( VB seek ) ( S ( VP ( TO to ) ( VP ( VB limit ) ( NP ( NP ( PRP$ their ) ( JJ future ) ( NN exposure ) ) ( PP ( TO to ) ( NP ( NNS catastrophes ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG increasing ) ( NP ( NP ( DT the ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN reinsurance ) ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP buy ) ) ) ) ) ) ) ) ) ) ) ) ) )

For example insurers may seek to limit their future exposure to catastrophes by increasing the amount of reinsurance they buy


( S ( NP-SBJ-4 ( NP ( JJ Such ) ( VBN increased ) ( NN demand ) ) ( PP ( IN for ) ( NP ( NN reinsurance ) ) ) ) ( PP ( IN along ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NNS losses ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS reinsurers ) ) ( VP ( MD will ) ( VP ( VB bear ) ) ) ) ) ( PP ( IN from ) ( NP ( DT these ) ( CD two ) ( NNS disasters ) ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB spur ) ( NP ( NP ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( NN reinsurance ) ( NNS prices ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD will ) ( ADVP-TMP ( RB later ) ) ( VP ( VB be ) ( VP ( VBN translated ) ( PP-CLR ( IN into ) ( NP ( DT an ) ( JJ overall ) ( NN price ) ( NN rise ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Such increased demand for reinsurance along with the losses the reinsurers will bear from these two disasters are likely to spur increases in reinsurance prices that will later be translated into an overall price rise


( S ( NP-SBJ ( NN Reinsurance ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN protection ) ) ( VP ( VBN taken ) ( ADVP-CLR ( RB out ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN insurance ) ( NNS firms ) ) ( ADVP ( PRP themselves ) ) ) ) ) ) ) )

Reinsurance is protection taken out by the insurance firms themselves


( SINV ( S-TPC-3 ( NP-SBJ ( PRP We ) ) ( VP ( VBP are ) ( VP ( VBG saying ) ( SBAR ( S ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( JJ breaking ) ( NN point ) ) ) ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN event ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB change ) ( NP ( NP ( DT the ) ( NN psychology ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN marketplace ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP William ) ( NNP Yankus ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Conning ) ( CC & ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NNP Hartford ) ( NN firm ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ specializes ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NN insurance ) ( NN industry ) ) ) ) ) ) ) ) ) ) ) )

We are saying this is the breaking point this is the event that will change the psychology of the marketplace said William Yankus an analyst with Conning & Co. a Hartford firm that specializes in the insurance industry


( S ( NP-SBJ ( PRP$ His ) ( NN firm ) ) ( PP ( IN along ) ( PP ( IN with ) ( NP ( DT some ) ( NNS others ) ) ) ) ( VP ( VBD issued ) ( NP ( NP ( JJ new ) ( JJ buy ) ( NNS recommendations ) ) ( PP ( IN on ) ( NP ( NN insurer ) ( NNS stocks ) ) ) ) ( NP-TMP ( NN yesterday ) ) ) )

His firm along with some others issued new buy recommendations on insurer stocks yesterday


( S ( PP-LOC ( IN Among ) ( NP ( DT the ) ( NN insurance ) ( NNS stocks ) ) ) ( NP-SBJ ( JJ big ) ( NNS gainers ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( NNP American ) ( NNP International ) ( NNP Group ) ) ( ADVP ( RB up ) ( NP ( CD 3.25 ) ) ( PP ( TO to ) ( NP ( CD 102.625 ) ) ) ) ) ( NP ( NP ( NNP General ) ( NNP Re ) ( NNP Corp. ) ) ( ADVP ( RB up ) ( NP ( CD 2.75 ) ) ( PP ( TO to ) ( NP ( CD 86.50 ) ) ) ) ) ( NP ( NP ( NNP Aetna ) ) ( ADVP ( RB up ) ( NP ( CD 2.375 ) ) ( PP ( TO to ) ( NP ( CD 59.50 ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Marsh ) ( CC & ) ( NNP McLennan ) ( NNP Inc. ) ) ( ADVP ( RB up ) ( NP ( CD 3.125 ) ) ( PP ( TO to ) ( NP ( CD 75.875 ) ) ) ) ) ) ) )

Among the insurance stocks big gainers included American International Group up 3.25 to 102.625 General Re Corp. up 2.75 to 86.50 Aetna up 2.375 to 59.50 and Marsh & McLennan Inc. up 3.125 to 75.875


( S ( ADVP ( RB Still ) ) ( NP-SBJ-1 ( NP ( DT a ) ( JJ few ) ( JJ individual ) ( NNS companies ) ) ( ADVP ( RBS most ) ( JJ likely ) ) ( NP ( JJR smaller ) ( NNS ones ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN devastated ) ) ) ) )

Still a few individual companies most likely smaller ones could be devastated


( S ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( ADJP ( RB damned ) ( JJ good ) ) ( NN chance ) ( SBAR ( S ( NP-SBJ-1 ( NN someone ) ) ( VP ( VBZ is ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB hit ) ( NP ( DT the ) ( NNS skids ) ) ( PP ( IN on ) ( NP ( DT this ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Oppenheimer ) ( CC & ) ( NNP Co. ) ( NN analyst ) ( NNP Myron ) ( NNP Picoult ) ) )

I think there is a damned good chance someone is going to hit the skids on this said Oppenheimer & Co. analyst Myron Picoult


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ suspects ) ( SBAR ( S ( NP-SBJ ( NP ( DT some ) ( NNS insurers ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN purchased ) ( NP ( NN reinsurance ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB limit ) ( NP ( NP ( PRP$ their ) ( NN exposure ) ) ( PP ( TO to ) ( NP ( NNS catastrophes ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB discover ) ( SBAR ( S ( NP-SBJ-1 ( DT that ) ( NN reinsurance ) ) ( VP ( VBD was ) ( VP ( VBN used ) ( PRT ( RP up ) ) ( PP ( IN by ) ( NP-LGS ( NNP Hurricane ) ( NNP Hugo ) ) ) ) ) ) ) ) ) ) ) ) )

He suspects some insurers who had purchased reinsurance to limit their exposure to catastrophes will discover that reinsurance was used up by Hurricane Hugo


( S ( NP-SBJ ( ADJP ( ADJP ( JJ British ) ) ( ADJP ( JJ West ) ( JJ German ) ) ( ADJP ( JJ Scandinavian ) ) ( CC and ) ( ADJP ( JJ other ) ) ) ( JJ overseas ) ( NNS insurers ) ) ( VP ( VBP are ) ( VP ( VBG bracing ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ big ) ( NNS claims ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP San ) ( NNP Francisco ) ( NN earthquake ) ( NN disaster ) ) ) ) ) ) ) )

British West German Scandinavian and other overseas insurers are bracing for big claims from the San Francisco earthquake disaster


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ unclear ) ) ( SBAR-1 ( WHNP-2 ( WHADVP ( WRB how ) ( JJ much ) ) ( NN exposure ) ) ( S ( NP-SBJ ( DT the ) ( NNP London ) ( NN market ) ) ( VP ( MD will ) ( VP ( VB face ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP U.K. ) ) ( ADVP ( RB traditionally ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( JJ large ) ( NN reinsurance ) ( NN exposure ) ) ( PP ( TO to ) ( NP ( NNP U.S. ) ( NN catastrophe ) ( NN coverage ) ) ) ) ) )

Although it 's unclear how much exposure the London market will face U.K. traditionally have a large reinsurance exposure to U.S. catastrophe coverage


( S ( NP-SBJ ( NP ( NNP Jack ) ( NNP Byrne ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( NNP Fireman ) ( POS 's ) ) ( NNP Fund ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT this ) ( NN disaster ) ) ( VP ( MD will ) ( VP ( VB test ) ( NP ( DT the ) ( NN catastrophe ) ( NN reinsurance ) ( NN market ) ) ( S-ADV ( VP ( VBG causing ) ( S ( NP-SBJ ( DT these ) ( NNS rates ) ) ( VP ( TO to ) ( VP ( VB soar ) ) ) ) ) ) ) ) ) ) ) )

Jack Byrne chairman of Fireman 's Fund said this disaster will test the catastrophe reinsurance market causing these rates to soar


( S ( NP-SBJ ( NP ( DT The ) ( NN catastrophe ) ( NNS losses ) ) ( VP ( VBN sustained ) ( PP ( IN by ) ( NP-LGS ( NNS insurers ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ( VP ( MD will ) ( ADVP ( RB probably ) ) ( VP ( VB be ) ( NP-PRD ( DT the ) ( JJS worst ) ) ( PP ( IN on ) ( NP ( DT an ) ( JJ inflation-adjusted ) ( NN basis ) ) ) ( PP-TMP ( IN since ) ( NP ( NP ( CD 1906 ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT another ) ( NN earthquake ) ) ( VP ( VBD sparked ) ( NP ( DT the ) ( JJ Great ) ( NNP San ) ( NNP Francisco ) ( NN Fire ) ) ) ) ) ) ) ) ) )

The catastrophe losses sustained by insurers this year will probably be the worst on an inflation-adjusted basis since 1906 when another earthquake sparked the Great San Francisco Fire


( S ( NP-SBJ ( NP ( NNP Orin ) ( NNP Kramer ) ) ( NP ( NP ( DT an ) ( NN insurance ) ( NN consultant ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( VP ( VBZ estimates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( CD 1906 ) ( NNP San ) ( NNP Francisco ) ( NN destruction ) ) ( PP ( IN on ) ( NP ( DT an ) ( JJ inflation-adjusted ) ( NN basis ) ) ) ( VP ( VBD included ) ( NP ( NP ( JJ insured ) ( NNS losses ) ) ( PP ( IN of ) ( NP ( QP ( CD 5.8 ) ( CD billion ) ) ) ) ) ) ) ) ) )

Orin Kramer an insurance consultant in New York estimates that the 1906 San Francisco destruction on an inflation-adjusted basis included insured losses of 5.8 billion


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ is ) ( VP ( VBG estimating ) ( SBAR ( S ( NP-SBJ ( NP ( DT this ) ( NN week ) ( POS 's ) ) ( NN disaster ) ) ( VP ( MD will ) ( VP ( VB generate ) ( NP ( NP ( VBN insured ) ( NNS losses ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 2 ) ( CD billion ) ) ) ( TO to ) ( NP ( QP ( CD 4 ) ( CD billion ) ) ) ) ) ) ( PP ( VBG following ) ( NP ( NP ( QP ( IN about ) ( CD 4 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NP ( NNS costs ) ) ( PP ( TO to ) ( NP ( NNS insurers ) ) ) ) ) ( PP ( IN from ) ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ) ) ) ) ) ) ) ) ) )

He is estimating this week 's disaster will generate insured losses of 2 billion to 4 billion following about 4 billion in costs to insurers from Hurricane Hugo


( S ( NP-SBJ ( NN Money-market ) ( JJ mutual ) ( NN fund ) ( NNS assets ) ) ( VP ( VBD grew ) ( PP ( IN at ) ( NP ( QP ( RB nearly ) ( CD three ) ( NNS times ) ) ( PRP$ their ) ( JJ usual ) ( NN rate ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( VBD opted ) ( PP-CLR ( IN for ) ( NP ( NP ( NN safety ) ) ( CONJP ( RB instead ) ( IN of ) ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ) ) ) ) )

Money-market mutual fund assets grew at nearly three times their usual rate in the latest week as investors opted for safety instead of the stock market


( S ( NP-SBJ ( NN Money-fund ) ( NNS assets ) ) ( VP ( VBD soared ) ( NP-EXT ( QP ( CD 4.5 ) ( CD billion ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN week ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Tuesday ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( DT a ) ( NN record ) ( QP ( CD 348.4 ) ( CD billion ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NP ( NN IBC\/Donoghue ) ( POS 's ) ) ( NNP Money ) ( NNP Fund ) ( NNP Report ) ) ( NP ( DT a ) ( ADJP ( NNP Holliston ) ( JJ Mass.-based ) ) ( NN newsletter ) ) ) ) ) ) )

Money-fund assets soared 4.5 billion in the week ended Tuesday to a record 348.4 billion according to IBC\/Donoghue 's Money Fund Report a Holliston Mass.-based newsletter


( SINV ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBD were ) ( VP ( VBG expecting ) ( NP ( PRP it ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT the ) ( NN fall ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Dow ) ) ) ( NP-TMP ( NNP Friday ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Brenda ) ( NNP Malizia ) ( NNP Negus ) ) ( NP ( NP ( NN editor ) ) ( PP ( IN of ) ( NP ( NNP Money ) ( NNP Fund ) ( NNP Report ) ) ) ) ) )

We were expecting it following the fall of the Dow Friday said Brenda Malizia Negus editor of Money Fund Report


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( JJ proverbial ) ( NN flight ) ) ( PP ( TO to ) ( NP ( NN safety ) ) ) ) ) )

It 's the proverbial flight to safety


( S ( PP ( IN Despite ) ( NP ( NP ( JJ recent ) ( NNS declines ) ) ( PP-LOC ( IN in ) ( NP ( NN interest ) ( NNS rates ) ) ) ) ) ( NP-SBJ-1 ( NN money ) ( NNS funds ) ) ( VP ( VBP continue ) ( S ( VP ( TO to ) ( VP ( VB offer ) ( NP ( NP ( JJR better ) ( NNS yields ) ) ( PP ( IN than ) ( NP ( JJ other ) ( JJ comparable ) ( NNS investments ) ) ) ) ) ) ) ) )

Despite recent declines in interest rates money funds continue to offer better yields than other comparable investments


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( CD 400 ) ( JJ taxable ) ( NNS funds ) ) ( VP ( VBN tracked ) ( PP ( IN by ) ( NP-LGS ( NNP IBC\/Donoghue ) ( POS 's ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 8.55 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( ADVP ( RB down ) ( PP ( IN from ) ( NP ( CD 8.60 ) ( NN % ) ) ) ) ) )

The average seven-day compound yield on the 400 taxable funds tracked by IBC\/Donoghue 's was 8.55 % in the latest week down from 8.60 %


( S ( NP-SBJ ( NN Compound ) ( NNS yields ) ) ( VP ( VBP assume ) ( UCP ( NP ( NP ( NN reinvestment ) ) ( PP ( IN of ) ( NP ( NNS dividends ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ current ) ( NNS yields ) ) ( VP ( VBP continue ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ) )

Compound yields assume reinvestment of dividends and that current yields continue for a year


( S ( S ( NP-SBJ ( NP ( RBS Most ) ( JJ short-term ) ( NNS certificates ) ) ( PP ( IN of ) ( NP ( NN deposit ) ) ) ) ( VP ( VBP are ) ( VP ( VBG yielding ) ( NP ( QP ( IN about ) ( CD 8 ) ) ( NN % ) ( QP ( CC or ) ( JJR less ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ major ) ( NNS banks ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS yields ) ) ( PP ( IN on ) ( NP ( NP ( NNP Treasury ) ( NNS bills ) ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN auction ) ) ) ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( CD 7.61 ) ( NN % ) ) ( PP ( IN for ) ( NP ( CD three ) ( NNS months ) ) ) ) ( CC and ) ( NP ( NP ( CD 7.82 ) ( NN % ) ) ( PP ( IN for ) ( NP ( CD six ) ( NNS months ) ) ) ) ) ) ) ) )

Most short-term certificates of deposit are yielding about 8 % or less at major banks and the yields on Treasury bills sold at Monday 's auction fell to 7.61 % for three months and 7.82 % for six months


( S-2 ( NP-SBJ-1 ( NN Money-fund ) ( NNS assets ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG rising ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ average ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 1.6 ) ( CD billion ) ) ) ( NP-ADV ( DT a ) ( NN week ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS months ) ) ) ( PRN ( S ( NP-SBJ ( NNP Ms. ) ( NNP Negus ) ) ( VP ( VBD said ) ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( DT the ) ( ADJP ( RB relatively ) ( JJ high ) ) ( NNS yields ) ) ) ) ) ) ) )

Money-fund assets have been rising at an average rate of 1.6 billion a week in recent months Ms. Negus said reflecting the relatively high yields


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( NP-SBJ ( NP ( NNS funds ) ) ( ADJP ( JJ open ) ( PP ( TO to ) ( NP ( NP ( NNS institutions ) ) ( ADVP ( RB alone ) ) ) ) ) ) ( VP ( VBD grew ) ( PP-EXT ( IN by ) ( NP ( QP ( CD 1.8 ) ( CD billion ) ) ) ) ) )

In the latest week funds open to institutions alone grew by 1.8 billion


( S ( NP-SBJ ( DT Some ) ( NN fund ) ( NNS managers ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NNS inflows ) ) ( VP ( MD could ) ( VP ( VB increase ) ( PP-TMP ( IN in ) ( NP ( VBG coming ) ( NNS days ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NN stock ) ( NN selling ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN wake ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( ADJP ( CD 190.58 ) ( JJ point ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some fund managers say inflows could increase in coming days as a result of stock selling in the wake of Friday 's 190.58 point drop in the Dow Jones Industrial Average


( SINV ( S-TPC-2 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( VP ( VBG selling ) ( NP ( NNS equities ) ) ) ) ) ) ( NP-SBJ-3 ( PRP you ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB start ) ( S ( VP ( VBG getting ) ( NP ( NNS proceeds ) ) ) ) ( PP-TMP ( IN for ) ( NP ( QP ( CD five ) ( TO to ) ( CD seven ) ) ( NNS days ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Frank ) ( NNP Rachwalski ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ manages ) ( NP ( DT the ) ( NNP Kemper ) ( NNP Money ) ( NNP Market ) ( NNP Fund ) ) ) ) ) ) )

If you 're selling equities you do n't start getting proceeds for five to seven days said Frank Rachwalski who manages the Kemper Money Market Fund


( S ( NP-SBJ ( NP ( NNP Neal ) ( NNP Litvack ) ) ( NP ( NP ( NN marketing ) ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NNP Fidelity ) ( NNPS Investments ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS inflows ) ) ( NP-TMP ( NNP Friday ) ) ( PP ( IN into ) ( NP ( NP ( NNP Fidelity ) ( POS 's ) ) ( NNP Spartan ) ( CC and ) ( NNP Cash ) ( NNPS Reserves ) ( NN money-market ) ( NNS funds ) ) ) ) ( VP ( VBD were ) ( NP-PRD ( QP ( IN about ) ( RB twice ) ) ( JJ normal ) ( NNS levels ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( IN about ) ( NN half ) ) ( VP ( VBG coming ) ( PP-DIR ( IN from ) ( NP ( UCP ( NN equity ) ( CC and ) ( NN junk-bond ) ) ( NNS funds ) ) ) ) ) ) ) ) ) ) )

Neal Litvack marketing vice president for Fidelity Investments said inflows Friday into Fidelity 's Spartan and Cash Reserves money-market funds were about twice normal levels with about half coming from equity and junk-bond funds


( S ( S-TPC-1 ( NP-SBJ ( NNP Monday ) ( CC and ) ( NNP Tuesday ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ lackluster ) ) ( PP ( IN in ) ( NP ( NN comparison ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

Monday and Tuesday were lackluster in comparison he said


( S ( S-TPC-1 ( NP-SBJ-2 ( NNS People ) ) ( VP ( VBP are ) ( RB n't ) ( ADVP ( RB necessarily ) ) ( VP ( VBG running ) ( S-CLR ( ADJP-PRD ( RB scared ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Litvack ) ) ( VP ( VBD said ) ) )

People are n't necessarily running scared Mr. Litvack said


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( VP ( VBG maintaining ) ( NP ( NP ( PRP$ their ) ( NN attitude ) ) ( PP ( IN toward ) ( NP ( NN investing ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN leaned ) ( PP-DIR ( IN toward ) ( NP ( DT the ) ( NN conservative ) ) ) ( ADVP-TMP ( RB recently ) ) ) ) ) ) ) ) ) )

They 're maintaining their attitude toward investing which has leaned toward the conservative recently


( S ( NP-SBJ-1 ( NN Money-fund ) ( NNS yields ) ) ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VB lag ) ( NP ( NN interestrate ) ( NNS trends ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-2 ( NN portfolio ) ( NNS managers ) ) ( VP ( VBP adjust ) ( NP ( NP ( DT the ) ( NNS maturities ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ their ) ( NNS investments ) ) ( PRN ( NP ( NP ( JJ short-term ) ( NNP Treasury ) ( NNS securities ) ) ( NP ( JJ commercial ) ( NN paper ) ) ( CC and ) ( NP ( DT the ) ( JJ like ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB capture ) ( NP ( DT the ) ( JJS highest ) ( NNS yields ) ) ) ) ) ) ) ) ) ) ) ) )

Money-fund yields tend to lag interestrate trends as portfolio managers adjust the maturities of their investments short-term Treasury securities commercial paper and the like to capture the highest yields


( S ( NP-SBJ ( NNS Maturities ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD-3 ( JJR shorter ) ) ( SBAR-TMP-4 ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NNS rates ) ) ( VP ( VBP are ) ( VP ( VBG rising ) ) ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=3 ( JJR longer ) ) ( SBAR-TMP=4 ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG falling ) ) ) ) ) ) ) )

Maturities usually are shorter when rates are rising and longer when they are falling


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN maturity ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS funds ) ) ( VP ( VBN tracked ) ( PP ( IN by ) ( NP-LGS ( NNP IBC\/Donoghue ) ( POS 's ) ) ) ) ) ) ) ( VP ( VBD remained ) ( PP-LOC-PRD ( IN at ) ( NP ( CD 38 ) ( NNS days ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ third ) ( JJ consecutive ) ( NN week ) ) ) ) )

The average maturity of the funds tracked by IBC\/Donoghue 's remained at 38 days for the third consecutive week


( S ( NP-SBJ ( PRP It ) ) ( VP ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ short ) ) ( PP ( IN as ) ( NP ( CD 29 ) ( NNS days ) ) ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN start ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN year ) ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NNS rates ) ) ( VP ( VBD were ) ( VP ( VBG marching ) ( ADVP-MNR ( RB steadily ) ) ( ADVP-DIR ( RB upward ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD hit ) ( NP ( CD 42 ) ( NNS days ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) )

It was as short as 29 days at the start of this year when rates were marching steadily upward and hit 42 days in August


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( JJ seven-day ) ( JJ simple ) ( NN yield ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS funds ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( CD 8.21 ) ( NN % ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.26 ) ( NN % ) ) ) ) )

The average seven-day simple yield of the funds fell to 8.21 % this week from 8.26 %


( S ( S ( NP-SBJ ( DT The ) ( JJ average ) ( JJ 30-day ) ( JJ simple ) ( NN yield ) ) ( VP ( VBD was ) ( NP-PRD ( CD 8.26 ) ( NN % ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( CD 8.27 ) ( NN % ) ) ( NP-TMP ( DT the ) ( NN week ) ( RB before ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJ 30-day ) ( NN compound ) ( NN yield ) ) ( VP ( VBD slid ) ( PP-DIR ( TO to ) ( NP ( CD 8.60 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.61 ) ( NN % ) ) ) ) ) )

The average 30-day simple yield was 8.26 % compared with 8.27 % the week before and the 30-day compound yield slid to 8.60 % from 8.61 %


( S ( NP-SBJ ( DT Some ) ( NNS funds ) ) ( VP ( VBP are ) ( VP ( VBG posting ) ( NP ( NP ( NNS yields ) ) ( ADJP ( ADJP ( RB far ) ( JJR higher ) ) ( PP ( IN than ) ( NP ( DT the ) ( NN average ) ) ) ) ) ) ) )

Some funds are posting yields far higher than the average


( S ( NP-SBJ ( NP ( DT The ) ( ADJP ( RBS highest ) ( JJ yielding ) ) ( JJ taxable ) ( NN fund ) ) ( NP-TMP ( DT this ) ( NN week ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NNP Harbor ) ( NNP Money ) ( NNP Market ) ( NNP Fund ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN of ) ( NP ( CD 12.75 ) ( NN % ) ) ) ) ) ) ) )

The highest yielding taxable fund this week was Harbor Money Market Fund with a seven-day compound yield of 12.75 %


( S ( NP-SBJ ( IN That ) ) ( VP ( VBD included ) ( NP ( NP ( NN capital ) ( NNS gains ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD were ) ( VP ( VBN passed ) ( ADVP-CLR ( RB along ) ) ( PP-DIR ( TO to ) ( NP ( NNS customers ) ) ) ) ) ) ) ) ) )

That included capital gains that were passed along to customers


( S ( PP-LOC ( IN Among ) ( NP ( DT the ) ( JJ other ) ( JJ high-yielding ) ( NNS funds ) ) ) ( NP-SBJ ( NP ( NNP Fidelity ) ( POS 's ) ) ( NNP Spartan ) ( NNP Fund ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN of ) ( NP ( CD 9.33 ) ( NN % ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ) )

Among the other high-yielding funds Fidelity 's Spartan Fund had a seven-day compound yield of 9.33 % in the latest week


( S ( NP-SBJ ( NP ( DT The ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Dreyfus ) ( NNP Worldwide ) ( NNP Dollar ) ( NNP Fund ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 9.51 ) ( NN % ) ) ) )

The seven-day compound yield of the Dreyfus Worldwide Dollar Fund was 9.51 %


( S ( NP-SBJ-1 ( NP ( NNP Frederick ) ( NNP W. ) ( NNP Lang ) ) ( ADJP ( NP ( CD 65 ) ( NNS years ) ) ( JJ old ) ) ( NP ( NP ( DT the ) ( NN founder ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN software ) ( NNS services ) ( NN concern ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN elected ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ new ) ( NN post ) ) ( PP ( IN of ) ( NP ( NN chairman ) ) ) ) ) ) ) )

Frederick W. Lang 65 years old the founder of this software services concern was elected to the new post of chairman


( S ( S-ADV ( ADVP-TMP ( RB Formerly ) ) ( NP-PRD ( NN president ) ( CC and ) ( NN treasurer ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Lang ) ) ( VP ( VBZ remains ) ( NP-PRD ( JJ chief ) ( NN executive ) ( NN officer ) ) ) )

Formerly president and treasurer Mr. Lang remains chief executive officer


( S ( NP-SBJ ( NP ( NNP Victor ) ( NNP C. ) ( NNP Benda ) ) ( NP ( CD 58 ) ) ( ADVP ( RB formerly ) ) ( NP ( NN executive ) ( NN vice ) ( NN president ) ) ) ( VP ( VP ( VBZ succeeds ) ( NP ( NNP Mr. ) ( NNP Lang ) ) ( PP-CLR ( IN as ) ( NP ( NN president ) ) ) ) ( CC and ) ( VP ( VBZ becomes ) ( NP-PRD ( NP ( JJ chief ) ( VBG operating ) ( NN officer ) ) ( NP ( DT a ) ( JJ new ) ( NN post ) ) ) ) ) )

Victor C. Benda 58 formerly executive vice president succeeds Mr. Lang as president and becomes chief operating officer a new post


( S ( NP-SBJ-1 ( NN Stock ) ( NNS prices ) ) ( VP ( VBD closed ) ( S-ADV ( ADJP-PRD ( RB slightly ) ( RBR higher ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( JJ routine ) ( NN trading ) ( NN day ) ) ( PP-TMP ( IN since ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( JJ big ) ( NN plunge ) ) ) ) ) ) )

Stock prices closed slightly higher in the first routine trading day since Friday 's big plunge


( S ( NP-SBJ-1 ( DT Some ) ( NNS issues ) ) ( VP ( VBD were ) ( VP ( VBN affected ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( JJ devastating ) ( NN earthquake ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP San ) ( NNP Francisco ) ( NN area ) ) ) ) ) ) ) )

Some issues were affected by Tuesday 's devastating earthquake in the San Francisco area


( S ( NP-SBJ-1 ( NN Activity ) ) ( VP ( VBD continued ) ( S ( VP ( TO to ) ( VP ( VB slow ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ hectic ) ( NN pace ) ) ( VP ( VBN set ) ( PP-TMP ( IN during ) ( NP ( NP ( NP ( NP ( DT the ) ( NN market ) ( POS 's ) ) ( NN plunge ) ) ( NP-TMP ( JJ late ) ( NNP Friday ) ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN rebound ) ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-2 ( NNS players ) ) ( VP ( VBD began ) ( S ( VP ( TO to ) ( VP ( VB set ) ( NP ( PRP$ their ) ( NNS sights ) ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NNS events ) ) ( VP ( VBG coming ) ( NP-TMP ( RB later ) ( DT this ) ( NN week ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Activity continued to slow from the hectic pace set during the market 's plunge late Friday and its rebound Monday as players began to set their sights on events coming later this week


( S ( NP-SBJ-1 ( DT The ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( VP ( VBD drifted ) ( PP-DIR ( IN through ) ( NP ( DT the ) ( NN session ) ) ) ( PP ( IN within ) ( NP ( NP ( DT a ) ( NN trading ) ( NN range ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 30 ) ) ( NNS points ) ) ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG closing ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN of ) ( NP ( CD 4.92 ) ) ) ) ) ( PP ( IN at ) ( NP ( CD 2643.65 ) ) ) ) ) ) ) )

The Dow Jones Industrial Average drifted through the session within a trading range of about 30 points before closing with a gain of 4.92 at 2643.65


( S ( NP-SBJ ( JJR Broader ) ( NNS averages ) ) ( ADVP ( RB also ) ) ( VP ( VBD posted ) ( NP ( JJ modest ) ( NNS gains ) ) ) )

Broader averages also posted modest gains


( S ( S ( NP-SBJ ( NP ( NNP Standard ) ( CC & ) ( NNP Poor ) ( POS 's ) ) ( NNP 500-Stock ) ( NNP Index ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 0.60 ) ) ( PP-DIR ( TO to ) ( NP ( CD 341.76 ) ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Equity ) ( NNP Market ) ( NNP Index ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 0.71 ) ) ( PP-DIR ( TO to ) ( NP ( CD 320.54 ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NNP Composite ) ( NNP Index ) ) ( VP ( VBD gained ) ( NP ( CD 0.43 ) ) ( PP-DIR ( TO to ) ( NP ( CD 189.32 ) ) ) ) ) )

Standard & Poor 's 500-Stock Index rose 0.60 to 341.76 the Dow Jones Equity Market Index rose 0.71 to 320.54 and the New York Stock Exchange Composite Index gained 0.43 to 189.32


( S ( NP-SBJ ( QP ( DT Some ) ( CD 822 ) ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NNS issues ) ) ( VP ( VBD advanced ) ( PP ( IN in ) ( NP ( NN price ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( CD 668 ) ) ( VP ( VBD declined ) ) ) ) ) )

Some 822 New York Stock Exchange issues advanced in price while 668 declined


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Transportation ) ( NNP Average ) ) ( VP ( VBD went ) ( ADVP-DIR ( RB down ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ seventh ) ( JJ consecutive ) ( NN session ) ) ) ( PP-PRP ( RB due ) ( ADVP ( RB largely ) ) ( PP ( TO to ) ( NP ( NP ( VB further ) ( VBG selling ) ) ( PP-LOC ( IN in ) ( NP ( NNP UAL ) ) ) ) ) ) ) )

But the Dow Jones Transportation Average went down for the seventh consecutive session due largely to further selling in UAL


( S ( NP-SBJ ( DT The ) ( NN average ) ) ( VP ( VP ( VBD dropped ) ( NP ( CD 6.40 ) ) ( PP-DIR ( TO to ) ( NP ( CD 1247.87 ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( ADVP-TMP ( RB now ) ) ( VP ( VBN lost ) ( NP ( NP ( CD 21.7 ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN value ) ) ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ ( DT the ) ( JJ losing ) ( NN streak ) ) ( VP ( VBD began ) ( NP-TMP ( NNP Oct. ) ( CD 10 ) ) ) ) ) ) ) ) )

The average dropped 6.40 to 1247.87 and has now lost 21.7 % of its value since the losing streak began Oct. 10


( S ( NP-SBJ ( NNP Big ) ( NNP Board ) ( NN volume ) ) ( VP ( VBD dropped ) ( PP-DIR ( TO to ) ( NP ( CD 166,900,000 ) ( NNS shares ) ) ) ( PP ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN level ) ) ( PP ( IN of ) ( NP ( NN trading ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( JJ few ) ( NNS weeks ) ) ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 224.1 ) ( CD million ) ) ( NP-TMP ( NNP Tuesday ) ) ) ) )

Big Board volume dropped to 166,900,000 shares in line with the level of trading over the past few weeks from 224.1 million Tuesday


( S ( NP-SBJ ( NNS Traders ) ) ( VP ( VBD cited ) ( NP ( NP ( NP ( NN anticipation ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN consumer ) ( NN price ) ( NN report ) ) ( PP ( IN for ) ( NP ( NNP September ) ) ) ( ADJP ( JJ due ) ( NP-TMP ( NN today ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( NN tomorrow ) ( POS 's ) ) ( NN expiration ) ) ( PP ( IN of ) ( NP ( NNP October ) ( NN stock-index ) ( NNS futures ) ( CC and ) ( NNS options ) ) ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( JJ major ) ( NNS factors ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN slowdown ) ) ) ) ) ) )

Traders cited anticipation of the consumer price report for September due today and tomorrow 's expiration of October stock-index futures and options as major factors in the slowdown


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( NP ( NN activity ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( ADJP ( NNP San ) ( JJ Francisco-based ) ) ( NN brokerage ) ( NNS houses ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN curtailed ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN earthquake ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD knocked ) ( PRT ( RP out ) ) ( NP ( NP ( NN power ) ( NNS lines ) ) ( CC and ) ( NP ( NN telephone ) ( NN service ) ) ) ( PP-LOC ( IN throughout ) ( NP ( DT the ) ( NNP Bay ) ( NN area ) ) ) ) ) ) ) ) ) ) ) ) )

In addition activity at a number of San Francisco-based brokerage houses was curtailed as a result of the earthquake which knocked out power lines and telephone service throughout the Bay area


( S ( NP-SBJ ( NNS Stocks ) ) ( VP ( VP ( VBD retreated ) ( PP-DIR ( TO to ) ( NP ( NN session ) ( NNS lows ) ) ) ( PP-TMP ( ADVP ( RB just ) ) ( IN after ) ( NP ( DT the ) ( NN opening ) ) ) ( PP-LOC ( IN amid ) ( NP ( NP ( NNS worries ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN market ) ( NN impact ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN quake ) ) ) ) ) ) ) ) ( CC but ) ( VP ( ADVP-MNR ( RB quickly ) ) ( VBD snapped ) ( ADVP-CLR ( RB back ) ) ( PP-DIR ( TO to ) ( NP ( JJR higher ) ( NNS levels ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN help ) ) ( PP ( IN of ) ( NP ( JJ futures-related ) ( NN program ) ( NN buying ) ) ) ) ) ) ) )

Stocks retreated to session lows just after the opening amid worries about the market impact of the quake but quickly snapped back to higher levels with the help of futures-related program buying


( S ( S ( NP-SBJ ( DT The ) ( JJ early ) ( NN move ) ) ( ADVP ( RB essentially ) ) ( VP ( VBD established ) ( NP ( NP ( DT the ) ( NN day ) ( POS 's ) ) ( NN trading ) ( NN range ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS traders ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD saw ) ( NP ( NP ( RB little ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN program ) ( NN activity ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN battered ) ( NP ( DT the ) ( NN market ) ) ( ADVP-TMP ( RB recently ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The early move essentially established the day 's trading range and traders said they saw little of the program activity that has battered the market recently


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB expect ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( DT this ) ( NN quiet ) ) ) ) ) ) ) )

I did n't expect it to be this quiet


( SINV ( S-TPC-4 ( NP-SBJ-3 ( PRP I ) ) ( VP ( VBD expected ) ( S ( VP ( TO to ) ( VP ( VB see ) ( NP ( JJR more ) ( NN volatility ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS institutions ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD were ) ( VP ( VBN spooked ) ( NP-TMP ( JJ last ) ( NNP Friday ) ) ) ) ) ) ) ) ) ( VP ( VBD did ) ( NP ( DT some ) ( NN selling ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Raymond ) ( NNP F. ) ( NNP DeVoe ) ) ( NP ( NP ( DT a ) ( NN market ) ( NN strategist ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Legg ) ( NNP Mason ) ( NNP Wood ) ( NNP Walker ) ) ( NP-LOC ( NNP Baltimore ) ) ) ) ) ) )

I expected to see more volatility as some of the institutions who were spooked last Friday did some selling said Raymond F. DeVoe a market strategist at Legg Mason Wood Walker Baltimore


( S ( NP-SBJ ( NNP Mr. ) ( NNP DeVoe ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( NNS prices ) ) ( VP ( TO to ) ( VP ( VB show ) ( NP ( DT some ) ( JJ renewed ) ( NN instability ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( JJ few ) ( NNS sessions ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNS institutions ) ) ( VP ( VBP re-evaluate ) ( NP ( NP ( PRP$ their ) ( NN stance ) ) ( PP ( IN toward ) ( NP ( DT the ) ( NN market ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN light ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN decline ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. DeVoe said he expects prices to show some renewed instability over the next few sessions as institutions re-evaluate their stance toward the market in light of its decline


( S ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( MD would ) ( VP ( VB suspect ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN investment ) ( NNS committees ) ) ) ) ( VP ( VBP are ) ( VP ( VBG looking ) ( PP-CLR ( IN into ) ( SBAR ( IN whether ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB be ) ( PP-LOC-PRD ( IN in ) ( NP ( NNS stocks ) ) ) ( ADVP ( IN at ) ( DT all ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

I would suspect that a lot of investment committees are looking into whether they want to be in stocks at all he said


( S ( NP-SBJ-1 ( NN Insurance ) ( NNS stocks ) ) ( VP ( VBD were ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN opening ) ) ) ( PP-LOC ( IN amid ) ( NP ( NP ( NNS concerns ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN level ) ) ( PP ( IN of ) ( NP ( NP ( NN damage ) ( NNS claims ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS companies ) ) ( VP ( MD would ) ( VP ( VB receive ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN earthquake ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Insurance stocks were sold at the opening amid concerns about the level of damage claims the companies would receive as a result of the earthquake


( S ( CC But ) ( NP-SBJ ( DT those ) ( NNS issues ) ) ( VP ( VP ( VBD recovered ) ( ADVP-MNR ( RB quickly ) ) ) ( CC and ) ( VP ( VBD turned ) ( ADJP-PRD ( RBR higher ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NNS expectations ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN quake ) ) ( CC and ) ( NP ( DT the ) ( JJ recent ) ( NNP Hurricane ) ( NNP Hugo ) ) ) ( VP ( MD would ) ( VP ( VB set ) ( NP ( DT the ) ( NN stage ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NN premium ) ( NNS rates ) ) ) ) ) ) ) ) ) ) ) ) )

But those issues recovered quickly and turned higher because of expectations that the quake and the recent Hurricane Hugo would set the stage for an increase in premium rates


( S ( NP-SBJ ( NP ( NNS Issues ) ) ( PP ( IN of ) ( NP ( NN insurance ) ( NNS brokers ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB especially ) ( JJ strong ) ) ) )

Issues of insurance brokers were especially strong


( S ( S ( NP-SBJ ( NNP Marsh ) ( CC & ) ( NNP McLennan ) ) ( VP ( VBD advanced ) ( NP-EXT ( QP ( CD 3 ) ( CD 1\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 75 ) ( CD 7\/8 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Alexander ) ( CC & ) ( NNP Alexander ) ( NNP Services ) ) ( VP ( VBD climbed ) ( NP-EXT ( CD 2 ) ) ( PP-DIR ( TO to ) ( NP ( CD 32 ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Corroon ) ( CC & ) ( NNP Black ) ) ( VP ( VBD firmed ) ( NP-EXT ( QP ( CD 1 ) ( CD 7\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 37 ) ( CD 1\/2 ) ) ) ) ) ) )

Marsh & McLennan advanced 3 1\/8 to 75 7\/8 Alexander & Alexander Services climbed 2 to 32 and Corroon & Black firmed 1 7\/8 to 37 1\/2


( S ( PP-LOC ( ADVP ( RB Elsewhere ) ) ( IN in ) ( NP ( DT the ) ( NN group ) ) ) ( S ( NP-SBJ ( NNP General ) ( NNP Re ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( CD 2 ) ( CD 3\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 86 ) ( CD 1\/2 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP American ) ( NNP International ) ( NNP Group ) ) ( VP ( VBD gained ) ( NP ( QP ( CD 3 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 102 ) ( CD 5\/8 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Aetna ) ( NNP Life ) ( CC & ) ( NNP Casualty ) ) ( VP ( VBD added ) ( NP ( QP ( CD 2 ) ( CD 3\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 59 ) ( CD 1\/2 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Cigna ) ) ( VP ( VBD advanced ) ( NP-EXT ( CD 7\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 62 ) ( CD 1\/2 ) ) ) ) ) ) )

Elsewhere in the group General Re rose 2 3\/4 to 86 1\/2 American International Group gained 3 1\/4 to 102 5\/8 Aetna Life & Casualty added 2 3\/8 to 59 1\/2 and Cigna advanced 7\/8 to 62 1\/2


( S ( NP-SBJ ( NP ( NNP Loews ) ) ( NP ( NP ( DT the ) ( NN parent ) ) ( PP ( IN of ) ( NP ( NNP CNA ) ( NNP Financial ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( CD 1 ) ( CD 3\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 123 ) ( CD 1\/8 ) ) ) ) ) )

Loews the parent of CNA Financial rose 1 3\/8 to 123 1\/8


( S ( NP-SBJ ( NP ( NNS Companies ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( UCP ( NN construction ) ( NN engineering ) ( CC and ) ( NNS building-products ) ) ( NNS sectors ) ) ) ) ( VP ( VBD were ) ( PP-LOC-PRD ( IN among ) ( NP ( NP ( JJ other ) ( NNS beneficiaries ) ) ( PP ( IN of ) ( NP ( JJ earthquake-related ) ( NN buying ) ) ) ) ) ) )

Companies in the construction engineering and building-products sectors were among other beneficiaries of earthquake-related buying


( S ( S ( NP-SBJ ( DT The ) ( NN heavy-construction ) ( NN sector ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN session ) ( POS 's ) ) ( JJS best ) ( NN performer ) ) ( PP-LOC ( IN among ) ( NP ( NNP Dow ) ( NNP Jones ) ( NN industry ) ( NNS groups ) ) ) ) ) ( S ( S ( NP-SBJ ( NNP Fluor ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 3\/4 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 33 ) ( CD 3\/8 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Morrison ) ( NNP Knudsen ) ) ( VP ( VBD gained ) ( NP ( QP ( CD 2 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 44 ) ( CD 1\/8 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Foster ) ( NNP Wheeler ) ) ( VP ( VBD added ) ( NP ( CD 3\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 18 ) ( CD 1\/4 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Ameron ) ) ( VP ( VBD climbed ) ( NP-EXT ( QP ( CD 2 ) ( CD 3\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 39 ) ( CD 3\/4 ) ) ) ) ) ) ) )

The heavy-construction sector was the session 's best performer among Dow Jones industry groups Fluor rose 3\/4 to 33 3\/8 Morrison Knudsen gained 2 1\/4 to 44 1\/8 Foster Wheeler added 3\/8 to 18 1\/4 and Ameron climbed 2 3\/8 to 39 3\/4


( S ( PP-LOC ( IN Among ) ( NP ( NN engineering ) ( NNS firms ) ) ) ( S ( NP-SBJ ( NNP CRS ) ( NNP Sirrine ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 5\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 34 ) ( CD 1\/4 ) ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( CD four ) ( NNS others ) ) ( VP ( VBD rallied ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP ( NP ( NP ( NNP Jacobs ) ( NNP Engineering ) ( NNP Group ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD gained ) ( NP ( QP ( CD 1 ) ( CD 1\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 25 ) ( CD 3\/8 ) ) ) ) ) ) ) ) ( NP ( NP ( NNP Greiner ) ( NNP Engineering ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD rose ) ( NP-EXT ( QP ( CD 3 ) ( CD 1\/2 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 22 ) ( CD 1\/2 ) ) ) ) ) ) ) ) ( NP ( NP ( NNP Michael ) ( NNP Baker ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBD added ) ( NP ( QP ( CD 1 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 15 ) ( CD 1\/4 ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP American ) ( NNP Science ) ( CC & ) ( NNP Engineering ) ) ( ADVP ( RB up ) ( NP ( CD 1\/2 ) ) ( PP ( TO to ) ( NP ( QP ( CD 8 ) ( CD 1\/2 ) ) ) ) ) ) ) ) ) )

Among engineering firms CRS Sirrine rose 5\/8 to 34 1\/4 on the Big Board and four others rallied on the American Stock Exchange Jacobs Engineering Group which gained 1 1\/8 to 25 3\/8 Greiner Engineering which rose 3 1\/2 to 22 1\/2 Michael Baker which added 1 1\/4 to 15 1\/4 and American Science & Engineering up 1\/2 to 8 1\/2


( S ( PP-LOC ( IN Within ) ( NP ( DT the ) ( NNS building-materials ) ( NN group ) ) ) ( S ( NP-SBJ ( NNP Georgia-Pacific ) ) ( VP ( VBD climbed ) ( NP-EXT ( QP ( CD 1 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 58 ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Louisiana-Pacific ) ) ( VP ( VBD added ) ( NP ( CD 1 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 40 ) ( CD 3\/4 ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ) ( VP ( VBD recommended ) ( NP ( DT the ) ( NNS forest-products ) ( NNS issues ) ) ) ) ) ) ) )

Within the building-materials group Georgia-Pacific climbed 1 1\/4 to 58 and Louisiana-Pacific added 1 to 40 3\/4 after Merrill Lynch recommended the forest-products issues


( S ( S ( NP-SBJ ( NNP CalMat ) ) ( VP ( VBN advanced ) ( NP-EXT ( QP ( CD 2 ) ( CD 3\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 28 ) ( CD 3\/4 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Lone ) ( NNP Star ) ( NNPS Industries ) ) ( VP ( VBD gained ) ( NP ( QP ( CD 1 ) ( CD 3\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 29 ) ( CD 1\/4 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Lafarge ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 1 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 19 ) ( CD 1\/2 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Southdown ) ) ( VP ( VBD added ) ( NP ( CD 5\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 24 ) ( CD 5\/8 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Eljer ) ( NNPS Industries ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( CD 1 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 24 ) ( CD 7\/8 ) ) ) ) ) ) )

CalMat advanced 2 3\/4 to 28 3\/4 Lone Star Industries gained 1 3\/4 to 29 1\/4 Lafarge rose 1 to 19 1\/2 Southdown added 5\/8 to 24 5\/8 and Eljer Industries rose 1 1\/4 to 24 7\/8


( S ( S ( NP-SBJ ( NNP Pacific ) ( NNP Gas ) ( CC & ) ( NNP Electric ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 3\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 19 ) ( CD 5\/8 ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Big ) ( NNP Board ) ( JJ composite ) ( NN trading ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.7 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Pacific ) ( NNP Telesis ) ( NNP Group ) ) ( VP ( VBD slipped ) ( NP-EXT ( CD 5\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 44 ) ( CD 5\/8 ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-1 ( DT the ) ( NNS companies ) ) ( VP ( VBD worked ) ( S ( VP ( TO to ) ( VP ( VB restore ) ( NP ( NN service ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS areas ) ) ( VP ( VBN affected ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN quake ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Pacific Gas & Electric fell 3\/8 to 19 5\/8 in Big Board composite trading of 1.7 million shares and Pacific Telesis Group slipped 5\/8 to 44 5\/8 as the companies worked to restore service to areas affected by the quake


( S ( NP-SBJ ( NNP Chevron ) ) ( VP ( VBD added ) ( NP ( CD 1 ) ) ( PP-DIR ( TO to ) ( NP ( CD 65 ) ) ) ) )

Chevron added 1 to 65


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD had ) ( S ( VP ( TO to ) ( VP ( VB shut ) ( PRT ( RP down ) ) ( NP ( NP ( DT a ) ( NN crude-oil ) ( NN pipeline ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Bay ) ( NN area ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB check ) ( PP-CLR ( IN for ) ( NP ( NNS leaks ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD added ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( PRP$ its ) ( NN refinery ) ) ( PP-LOC ( IN in ) ( NP ( JJ nearby ) ( NAC ( NNP Richmond ) ( NNP Calif. ) ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ undamaged ) ) ) ) ) ) ) )

The company based in San Francisco said it had to shut down a crude-oil pipeline in the Bay area to check for leaks but added that its refinery in nearby Richmond Calif. was undamaged


( S ( NP-SBJ ( NP ( JJ Other ) ( NNS companies ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN area ) ) ) ) ) ( VP ( VB include ) ( NP ( NP ( NP ( NNP Hewlett-Packard ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD rose ) ( NP-EXT ( CD 1\/4 ) ) ( PP-DIR ( TO to ) ( NP ( CD 49 ) ) ) ) ) ) ) ( NP ( NP ( NNP National ) ( NNP Semiconductor ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD went ) ( ADVP-DIR ( RB up ) ( NP ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 7 ) ( CD 5\/8 ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Genentech ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBD eased ) ( NP-EXT ( CD 1\/4 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 19 ) ( CD 5\/8 ) ) ) ) ) ) ) ) ) ) )

Other companies based in the area include Hewlett-Packard which rose 1\/4 to 49 National Semiconductor which went up 1\/4 to 7 5\/8 and Genentech which eased 1\/4 to 19 5\/8


( S ( NP-SBJ ( NP ( NN None ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS firms ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( DT any ) ( JJ major ) ( NN damage ) ) ( PP ( TO to ) ( NP ( NNS facilities ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN quake ) ) ) ) ) ) ) )

None of the firms reported any major damage to facilities as a result of the quake


( S ( S ( S ( NP-SBJ ( NNP BankAmerica ) ) ( VP ( VBD eased ) ( NP-EXT ( CD 1\/2 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 31 ) ( CD 7\/8 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Wells ) ( NNP Fargo ) ) ( VP ( VBD lost ) ( NP ( CD 1\/2 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 81 ) ( CD 1\/2 ) ) ) ) ) ) ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( CD two ) ( NN bank ) ( NN holding ) ( NNS companies ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN forced ) ( S ( VP ( TO to ) ( VP ( VB curtail ) ( NP ( DT some ) ( NNS operations ) ) ) ) ) ( ADVP-PRP ( JJ due ) ( PP ( TO to ) ( NP ( DT the ) ( NN temblor ) ) ) ) ) ) ) )

BankAmerica eased 1\/2 to 31 7\/8 and Wells Fargo lost 1\/2 to 81 1\/2 the two bank holding companies based in San Francisco were forced to curtail some operations due to the temblor


( S ( PP-LOC ( IN Among ) ( NP ( NNP California ) ( NN savings-and-loan ) ( NNS stocks ) ) ) ( S ( NP-SBJ ( NNP H.F. ) ( NNP Ahmanson ) ) ( VP ( VBD eased ) ( NP-EXT ( CD 3\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 22 ) ( CD 1\/4 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP CalFed ) ) ( VP ( VBD slid ) ( NP-EXT ( CD 3\/4 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 24 ) ( CD 1\/8 ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Great ) ( NNP Western ) ( NNP Financial ) ) ( VP ( VBD dropped ) ( NP ( CD 1\/2 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 21 ) ( CD 1\/4 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Golden ) ( NNP West ) ( NNP Financial ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 5\/8 ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 29 ) ( CD 1\/4 ) ) ) ) ) ) )

Among California savings-and-loan stocks H.F. Ahmanson eased 3\/8 to 22 1\/4 CalFed slid 3\/4 to 24 1\/8 Great Western Financial dropped 1\/2 to 21 1\/4 and Golden West Financial fell 5\/8 to 29 1\/4


( S ( NP-SBJ-1 ( NP ( NNP UAL ) ) ( NP ( NP ( DT the ) ( NN parent ) ( NN company ) ) ( PP ( IN of ) ( NP ( NNP United ) ( NNPS Airlines ) ) ) ) ) ( VP ( VBD swung ) ( PP-LOC ( IN within ) ( NP ( DT a ) ( JJ 14-point ) ( NN range ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NN course ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN session ) ) ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG closing ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 191 ) ( CD 3\/4 ) ) ) ) ( ADVP ( RB down ) ( NP ( QP ( CD 6 ) ( CD 1\/4 ) ) ) ) ( PP ( IN on ) ( NP ( QP ( CD 2.3 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ) ) )

UAL the parent company of United Airlines swung within a 14-point range during the course of the session before closing at 191 3\/4 down 6 1\/4 on 2.3 million shares


( S ( NP-SBJ ( NP ( NNP British ) ( NNPS Airways ) ) ( NP ( NP ( DT a ) ( NN member ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD had ) ( VP ( VBN offered ) ( NP ( NP ( CD 300 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-CLR ( IN for ) ( NP ( NNP UAL ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ leveraged ) ( NN buy-out ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD had ) ( ADVP-TMP ( RB yet ) ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( NP ( DT a ) ( JJ revised ) ( NN proposal ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBD was ) ( PP ( IN in ) ( NP ( DT no ) ( NN way ) ) ) ( VP ( VBN committed ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN completion ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) )

British Airways a member of the group that had offered 300 a share for UAL in a leveraged buy-out said it had yet to receive a revised proposal and it was in no way committed to the completion of a bid


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NN investor ) ( NNP Marvin ) ( NNP Davis ) ) ( VP ( VBD withdrew ) ( NP ( PRP$ his ) ( JJ backup ) ( ADJP ( JJ 300-a-share ) ) ( NN takeover ) ( NN offer ) ) ) )

Separately investor Marvin Davis withdrew his backup 300-a-share takeover offer


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NNP UAL ) ) ( VP ( VBD faltered ) ) ) ) ( NP-SBJ-1 ( NP ( NNP AMR ) ) ( NP ( NP ( DT the ) ( NN parent ) ) ( PP ( IN of ) ( NP ( NNP American ) ( NNPS Airlines ) ) ) ) ) ( VP ( VBD pulled ) ( PP-DIR ( RB out ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ recent ) ( JJ nosedive ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG rising ) ( NP-EXT ( CD 3\/4 ) ) ( PP-DIR ( TO to ) ( NP ( CD 74 ) ) ) ) ) ) ) )

While UAL faltered AMR the parent of American Airlines pulled out of its recent nosedive by rising 3\/4 to 74


( S ( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( PP-PRD ( IN on ) ( NP ( DT the ) ( NN decline ) ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ ( NP ( DT the ) ( NN financing ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP UAL ) ( NN buy-out ) ) ) ) ( VP ( VBD fell ) ( ADVP-CLR ( RB through ) ) ( PP-TMP ( IN on ) ( NP ( NNP Friday ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN developer ) ( NNP Donald ) ( NNP Trump ) ) ( ADVP-TMP ( RB subsequently ) ) ( VP ( VBD withdrew ) ( NP ( NP ( DT a ) ( NN takeover ) ( NN offer ) ) ( PP ( IN of ) ( NP ( NP ( CD 120 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN for ) ( NP ( NNP AMR ) ) ) ) ) ) )

The stock had been on the decline since the financing for the UAL buy-out fell through on Friday and developer Donald Trump subsequently withdrew a takeover offer of 120 a share for AMR


( S ( S ( ADVP ( RB Also ) ) ( NP-SBJ ( NNP AMR ) ) ( VP ( VBD was ) ( NP-PRD ( DT the ) ( ADJP ( RBS most ) ( JJ active ) ) ( NNP Big ) ( NNP Board ) ( NN issue ) ) ) ) ( S ( NP-SBJ ( QP ( CD 2.8 ) ( CD million ) ) ( NNS shares ) ) ( VP ( VBD changed ) ( NP ( NNS hands ) ) ) ) )

Also AMR was the most active Big Board issue 2.8 million shares changed hands


( S ( NP-SBJ ( NNP GTE ) ) ( VP ( VBD added ) ( NP ( QP ( CD 1 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 65 ) ( CD 3\/8 ) ) ) ) ) )

GTE added 1 1\/4 to 65 3\/8


( S ( NP-SBJ ( NNP PaineWebber ) ) ( VP ( VP ( VBD repeated ) ( NP ( NP ( DT a ) ( JJ buy ) ( NN recommendation ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN stock ) ) ) ) ) ( CC and ) ( VP ( VBD raised ) ( NP ( PRP$ its ) ( CD 1990 ) ( NNS earnings ) ( NN estimate ) ) ( PP-EXT ( IN by ) ( NP ( NP ( CD 35 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 5.10 ) ) ) ) ) )

PaineWebber repeated a buy recommendation on the stock and raised its 1990 earnings estimate by 35 cents a share to 5.10


( S ( NP-SBJ-1 ( NNP Colgate-Palmolive ) ) ( VP ( VBD advanced ) ( NP-EXT ( QP ( CD 1 ) ( CD 5\/8 ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 63 ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ comfortable ) ( PP ( IN with ) ( NP ( NP ( NNS analysts ) ( POS ' ) ) ( NNS projections ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ( PP ( IN from ) ( NP ( VBG continuing ) ( NNS operations ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( PP-PRD ( IN between ) ( NP ( NP ( NP ( CD 95 ) ( NNS cents ) ) ( CC and ) ( NP ( CD 1.05 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( CD 69 ) ( NNS cents ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Colgate-Palmolive advanced 1 5\/8 to 63 after saying it was comfortable with analysts ' projections that third-quarter net income from continuing operations would be between 95 cents and 1.05 a share up from 69 cents a year ago


( S ( NP-SBJ ( NNPS Springs ) ( NNPS Industries ) ) ( VP ( VBD dropped ) ( NP ( CD 1 ) ( CD 3\/8 ) ) ( PP-DIR ( TO to ) ( NP ( CD 36 ) ) ) ) )

Springs Industries dropped 1 3\/8 to 36


( S ( NP-SBJ ( NP ( NNS Analysts ) ) ( PP-LOC ( IN at ) ( NP ( JJ several ) ( NN brokerage ) ( NNS firms ) ) ) ) ( VP ( VBD lowered ) ( NP ( NP ( PRP$ their ) ( CD 1989 ) ( CC and ) ( CD 1990 ) ( NNS earnings ) ( NNS estimates ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN company ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( PRP$ its ) ( JJ third-quarter ) ( NNS results ) ) ( VP ( VBD proved ) ( ADJP-PRD ( JJ disappointing ) ) ) ) ) ) )

Analysts at several brokerage firms lowered their 1989 and 1990 earnings estimates on the company after its third-quarter results proved disappointing


( NP ( NP ( NNP Trinova ) ( JJ third-quarter ) ( NN loss ) ) ( PP-TMP ( IN after ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ planned ) ( NN restructuring ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB include ) ( NP ( NP ( NP ( DT the ) ( NN closing ) ( CC or ) ( NN downsizing ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 25 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS plants ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN work ) ( NN force ) ( NN cut ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 1,500 ) ) ) ) ( PP-TMP ( IN over ) ( NP ( CD three ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) )

Trinova third-quarter loss after a charge for a planned restructuring which will include the closing or downsizing of about 25 % of its plants and a work force cut of about 1,500 over three years


( S ( NP-SBJ-1 ( DT The ) ( NNP Amex ) ( NNP Market ) ( NNP Value ) ( NNP Index ) ) ( VP ( VBD snapped ) ( NP ( DT a ) ( JJ five-session ) ( NN losing ) ( NN streak ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG rising ) ( NP-EXT ( CD 2.91 ) ) ( PP-DIR ( TO to ) ( NP ( CD 378.07 ) ) ) ) ) ) ) )

The Amex Market Value Index snapped a five-session losing streak by rising 2.91 to 378.07


( S ( NP-SBJ ( NN Volume ) ) ( VP ( VBN totaled ) ( NP ( CD 12,500,000 ) ( NNS shares ) ) ) )

Volume totaled 12,500,000 shares


( S ( NP-SBJ ( NNP Carnival ) ( NNP Cruise ) ( NNPS Lines ) ( NN Class ) ( NNP A ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( CD 1 ) ( CD 1\/4 ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 22 ) ( CD 3\/8 ) ) ) ) ) )

Carnival Cruise Lines Class A rose 1 1\/4 to 22 3\/8


( S ( NP-SBJ-1 ( DT The ) ( NN company ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NN market ) ( NNS conditions ) ) ) ) ( VP ( VBD postponed ) ( NP ( DT a ) ( ADJP ( QP ( CD 200 ) ( CD million ) ) ) ( NN debt ) ( NN offer ) ) ) )

The company citing market conditions postponed a 200 million debt offer


( S ( NP-SBJ ( NNP Sterling ) ( NNP Software ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD lost ) ( NP ( PRP$ its ) ( NN bid ) ( S ( VP ( TO to ) ( VP ( VB supply ) ( NP ( NN software ) ( NNS services ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( DT the ) ( NNP National ) ( NNP Aeronautics ) ( CC and ) ( NNP Space ) ( NNP Administration ) ( POS 's ) ) ( NNP Ames ) ( NNP Research ) ( NNP Center ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Moffett ) ( NNP Field ) ) ( NP-LOC ( NNP Calif ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Sterling Software Inc. said it lost its bid to supply software services to the National Aeronautics and Space Administration 's Ames Research Center at Moffett Field Calif


( S ( NP-SBJ ( NP ( NNP Sterling ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD estimated ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN contract ) ) ) ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 150 ) ( CD million ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP NASA ) ) ( VP ( VBD selected ) ( NP ( DT another ) ( NN bidder ) ) ( PP ( IN for ) ( NP ( JJ final ) ( NNS negotiations ) ) ) ) ) ) ) )

Sterling which estimated the value of the contract at 150 million said NASA selected another bidder for final negotiations


( S ( PP-TMP ( IN In ) ( NP ( CD 1988 ) ) ) ( NP-SBJ-1 ( JJ Dallas-based ) ( NNP Sterling ) ) ( VP ( VBD protested ) ( NP ( NP ( DT a ) ( JJ similar ) ( NN decision ) ) ( PP ( IN by ) ( NP ( NNP NASA ) ) ) ( VP ( VBG involving ) ( NP ( DT the ) ( JJ same ) ( NN contract ) ) ) ) ( S-ADV ( VP ( VBG claiming ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( VP ( VBN submitted ) ( NP ( DT the ) ( JJS lowest ) ( NN bid ) ) ) ) ) ) ) ) ) )

In 1988 Dallas-based Sterling protested a similar decision by NASA involving the same contract claiming it had submitted the lowest bid


( S ( PP-PRP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-TMP ( JJ last ) ( NNP March ) ) ( NP-SBJ ( NP ( DT the ) ( NNP General ) ( NNPS Services ) ( NNP Administration ) ( NN board ) ) ( PP ( IN of ) ( NP ( NN contract ) ( NNS appeals ) ) ) ) ( VP ( VBD directed ) ( NP-1 ( NNP NASA ) ) ( S ( VP ( TO to ) ( VP ( VB reopen ) ( NP ( NP ( NNS negotiations ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN contract ) ) ) ) ) ) ) ) )

As a result last March the General Services Administration board of contract appeals directed NASA to reopen negotiations on the contract


( S ( NP-SBJ ( NNP Sterling ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VP ( VBD had ) ( VP ( VBN requested ) ( NP ( NP ( DT a ) ( NN briefing ) ) ( PP ( IN by ) ( NP ( NNP NASA ) ) ) ) ) ) ( CC but ) ( VP ( VBD had ) ( RB not ) ( VP ( VBN decided ) ( SBAR ( IN whether ) ( S ( VP ( TO to ) ( VP ( VB protest ) ( NP ( NP ( DT the ) ( NN agency ) ( POS 's ) ) ( JJS latest ) ( NN decision ) ) ) ) ) ) ) ) ) ) ) ) )

Sterling said it had requested a briefing by NASA but had not decided whether to protest the agency 's latest decision