( S ( NP-SBJ ( DT The ) ( NN market ) ) ( ADVP-MNR ( RB quickly ) ) ( VP ( VBD discounted ) ( NP ( NP ( DT the ) ( JJ weekly ) ( NN inventory ) ( NN report ) ) ( VP ( VBG showing ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 6.3 ) ( CD million ) ) ( NN barrel ) ) ( NN decrease ) ) ( PP ( IN in ) ( NP ( NNP U.S. ) ( JJ crude ) ( NN oil ) ( NNS stocks ) ) ) ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( NN legacy ) ) ( PP ( IN of ) ( NP ( NNP Hurricane ) ( NNP Jerry ) ) ) ) ) ) )

The market quickly discounted the weekly inventory report showing a 6.3 million barrel decrease in U.S. crude oil stocks as the legacy of Hurricane Jerry


( S ( NP-SBJ-1 ( DT That ) ( NN storm ) ) ( VP ( VBD hit ) ( NP ( DT the ) ( NNP Gulf ) ( NNP Coast ) ) ( NP-TMP ( NNP Oct. ) ( CD 13 ) ) ( S-ADV ( VP ( VP ( VBG closing ) ( NP ( DT the ) ( NNP Louisiana ) ( NNP Offshore ) ( NNP Oil ) ( NNP Port ) ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN time ) ) ) ) ( CC and ) ( VP ( VBG preventing ) ( NP-2 ( NNS tankers ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG unloading ) ) ) ) ) ) ) ) )

That storm hit the Gulf Coast Oct. 13 closing the Louisiana Offshore Oil Port for a time and preventing tankers from unloading


( S ( NP-SBJ ( NP ( JJ Next ) ( NN week ) ( POS 's ) ) ( NN report ) ) ( VP ( MD could ) ( ADVP ( RB very ) ( RB well ) ) ( VP ( VB show ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP ( IN in ) ( NP ( JJ crude ) ( NNS inventories ) ) ) ) ) ) )

Next week 's report could very well show an increase in crude inventories


( S ( S-NOM-SBJ ( VP ( VBG Dismissing ) ( NP ( NP ( DT the ) ( NN trade ) ( NN group ) ( POS 's ) ) ( NNS numbers ) ) ) ) ( VP ( VBN left ) ( NP-BNF ( NNS traders ) ) ( NP ( NP ( NN plenty ) ) ( PP ( IN of ) ( NP ( NN time ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB worry ) ( ADVP-TMP ( RB anew ) ) ( PP-CLR ( IN about ) ( NP ( NP ( DT the ) ( JJS latest ) ( NNS reports ) ) ( PP ( IN on ) ( NP ( NNP OPEC ) ( NN production ) ) ) ) ) ) ) ) ) ) ) )

Dismissing the trade group 's numbers left traders plenty of time to worry anew about the latest reports on OPEC production


( S ( NP-SBJ ( NP ( DT An ) ( ADJP ( NNP AP-Dow ) ( NNP Jones ) ) ( NN survey ) ) ( PP ( IN of ) ( NP ( NP ( JJ integrated ) ( NN oil ) ( NNS companies ) ) ( NP ( JJ independent ) ( NNS refiners ) ) ( CC and ) ( NP ( NN oil ) ( NN industry ) ( NNS consultants ) ) ) ) ) ( VP ( VBZ indicates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP Organization ) ) ( PP ( IN of ) ( NP ( NNP Petroleum ) ( NNP Exporting ) ( NNPS Countries ) ) ) ) ( VP ( VBD increased ) ( NP ( PRP$ its ) ( NN production ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 22.2 ) ( CD million ) ) ( NNS barrels ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ) )

An AP-Dow Jones survey of integrated oil companies independent refiners and oil industry consultants indicates that the Organization of Petroleum Exporting Countries increased its production to 22.2 million barrels a day in September


( S ( NP-SBJ ( NNS Estimates ) ) ( VP ( VBP suggest ) ( SBAR ( S ( NP-SBJ ( NP ( NNP October ) ( POS 's ) ) ( NN figure ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( RB even ) ( JJR higher ) ) ) ) ) ) ) )

Estimates suggest October 's figure may be even higher


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT That ) ( NN level ) ) ( PP ( IN of ) ( NP ( NN production ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( PP-PRD ( IN of ) ( NP ( JJ much ) ( NN concern ) ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB long ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( NN demand ) ) ( VP ( VBZ continues ) ( ADVP-CLR ( RB strong ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ) )

That level of production is n't of much concern as long as demand continues strong analysts said


( S ( CC But ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN year ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB generally ) ) ( NP-PRD ( DT the ) ( JJS weakest ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP OPEC ) ( NN production ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB seem ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG slackening ) ( PP ( IN in ) ( NP ( NP ( NN anticipation ) ) ( PP ( IN of ) ( NP ( DT that ) ) ) ) ) ) ) ) ) ) ) ) )

But the first quarter of the year is generally the weakest and OPEC production does n't seem to be slackening in anticipation of that


( S ( ADVP ( RB Also ) ) ( S-NOM-SBJ ( VP ( VBG maintaining ) ( NP ( JJ current ) ( NN demand ) ) ) ) ( VP ( VBZ assumes ) ( NP ( NP ( DT no ) ( JJ significant ) ( NN slowdown ) ) ( PP-LOC ( IN in ) ( NP ( NN world ) ( NNS economies ) ) ) ) ) )

Also maintaining current demand assumes no significant slowdown in world economies


( S ( S-ADV ( VP ( TO To ) ( VP ( VB top ) ( PRT ( RP off ) ) ( NP ( NP ( DT the ) ( JJ bearish ) ( NNS factors ) ) ( VP ( VBG affecting ) ( NP ( NP ( NN yesterday ) ) ( VBZ 's ) ( NN trading ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( JJ late ) ( NNP October ) ) ( NN weather ) ) ( PP-LOC ( ADVP ( RB especially ) ) ( IN in ) ( NP ( DT the ) ( NNP Northeast ) ( NNP U.S. ) ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB very ) ( JJ moderate ) ) ) ) ) ( S-ADV ( VP ( VBG leaving ) ( S ( NP-SBJ ( NN heating ) ( NN oil ) ( NNS futures ) ( NN trading ) ) ( ADJP-PRD ( RB lackluster ) ) ) ) ) ) )

To top off the bearish factors affecting yesterday 's trading late October weather especially in the Northeast U.S. continues to be very moderate leaving heating oil futures trading lackluster


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG seeing ) ( NP ( DT any ) ( JJ cold ) ( NN weather ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bolling ) ) ( VP ( VBD said ) ( PP ( IN from ) ( NP ( NNP New ) ( NNP York ) ) ) ) )

We are n't seeing any cold weather here Mr. Bolling said from New York


( FRAG ( PP-LOC ( IN In ) ( NP ( JJ other ) ( NN commodity ) ( NNS markets ) ) ) ( NP-TMP ( NN yesterday ) ) )

In other commodity markets yesterday


( NP-HLN ( NNS GRAINS ) ( CC AND ) ( NNS SOYBEANS ) )

GRAINS AND SOYBEANS


( S ( NP-SBJ ( NN Soybean ) ( CC and ) ( NN corn ) ( NNS futures ) ( NNS prices ) ) ( VP ( VBD moved ) ( ADVP-DIR ( RBR higher ) ) ( PP ( IN on ) ( NP ( NP ( NP ( DT the ) ( NN strength ) ) ( PP ( IN of ) ( NP ( NP ( NN buying ) ) ( PP ( IN from ) ( NP ( NP ( NN commodity ) ( NN pool ) ( NNS managers ) ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB profit ) ( PP ( IN from ) ( NP ( JJ technical ) ( NN price ) ( NNS trends ) ) ) ) ) ) ) ) ) ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( VBN continued ) ( NN export ) ( NN strength ) ) ) ) ) )

Soybean and corn futures prices moved higher on the strength of buying from commodity pool managers trying to profit from technical price trends as well as continued export strength


( S ( NP-SBJ ( NP ( NP ( DT A ) ( NN leveling ) ( PRT ( RB off ) ) ) ( PP ( IN of ) ( NP ( NN farmer ) ( NN selling ) ) ) ) ( VP ( VBN tied ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN harvest ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD removed ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ downward ) ( NN pressure ) ) ( PP ( IN on ) ( NP ( NNS futures ) ( NN contract ) ( NNS prices ) ) ) ) ) ) ) )

A leveling off of farmer selling tied to the harvest also removed some of the downward pressure on futures contract prices


( S ( NP-SBJ ( NN Wheat ) ( NNS futures ) ( NNS prices ) ) ( VP ( VBD fell ) ( ADVP ( RB however ) ) ( PP ( ADVP ( ADVP ( IN at ) ( JJS least ) ) ( RB partly ) ) ( IN in ) ( NP ( NP ( NN reaction ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( VBN rumored ) ( NN selling ) ) ( PP ( IN of ) ( NP ( NP ( NNS futures ) ( NNS contracts ) ) ( ADJP ( JJ equal ) ( PP ( TO to ) ( NP ( NP ( QP ( JJ several ) ( CD million ) ) ( NNS bushels ) ) ( PP ( IN of ) ( NP ( NN wheat ) ) ) ) ) ) ) ) ( PP ( IN by ) ( NP ( NN commodity ) ( NN speculator ) ( NNP Richard ) ( NNP Dennis ) ) ) ) ) ) ) ) )

Wheat futures prices fell however at least partly in reaction to the rumored selling of futures contracts equal to several million bushels of wheat by commodity speculator Richard Dennis


( S ( NP-SBJ-1 ( CC Neither ) ( NP ( NNP Mr. ) ( NNP Dennis ) ) ( CC nor ) ( NP ( NP ( NNS officials ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ his ) ( NNP Chicago ) ( NN trading ) ( NN company ) ) ( NP ( NNP C&D ) ( NNP Commodities ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-CLR ( IN for ) ( NP ( NN comment ) ) ) ) ) ) )

Neither Mr. Dennis nor officials of his Chicago trading company C&D Commodities could be reached for comment


( SINV ( S-TPC-1 ( PP ( IN As ) ( PP ( IN for ) ( NP ( NN corn ) ( CC and ) ( NN soybean ) ( NNS futures ) ) ) ) ( NP-SBJ ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN commission ) ( NN house ) ( NN buying ) ) ) ( NP-TMP ( DT this ) ( NN morning ) ) ) ( CC and ) ( NP ( JJ computer-driven ) ( NN buying ) ) ) ( VP ( VBD supported ) ( NP ( NNS prices ) ) ( PP-TMP ( IN in ) ( NP ( JJ early ) ( NN trading ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Steven ) ( NNP Freed ) ) ( NP ( NP ( DT a ) ( NNS futures ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Dean ) ( NNP Witter ) ( NNP Reynolds ) ( NNP Inc. ) ) ( PP-LOC ( IN in ) ( NP ( NNP Chicago ) ) ) ) ) ) ) )

As for corn and soybean futures a lot of commission house buying this morning and computer-driven buying supported prices in early trading said Steven Freed a futures analyst with Dean Witter Reynolds Inc. in Chicago


( S ( NP-SBJ-1 ( NP ( NN Soybean ) ( NNS futures ) ) ( PP ( IN for ) ( NP ( NNP November ) ( NN delivery ) ) ) ) ( VP ( VBD gained ) ( NP ( NP ( CD 5.25 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN bushel ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 5.66 ) ) ( NP-ADV ( DT a ) ( NN bushel ) ) ) ) ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NNP Chicago ) ( NNP Board ) ) ( PP ( IN of ) ( NP ( NNP Trade ) ) ) ) ) ) )

Soybean futures for November delivery gained 5.25 cents a bushel to close at 5.66 a bushel on the Chicago Board of Trade


( S ( NP-SBJ-1 ( NNP December ) ( NN corn ) ( NNS futures ) ) ( VP ( VBD added ) ( NP ( NP ( CD 2.25 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN bushel ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 2.4225 ) ) ( NP-ADV ( DT a ) ( NN bushel ) ) ) ) ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NNP Board ) ) ( PP ( IN of ) ( NP ( NNP Trade ) ) ) ) ) ) )

December corn futures added 2.25 cents a bushel to close at 2.4225 a bushel on the Board of Trade


( S ( NP-SBJ ( NP ( ADJP ( JJ Announced ) ( CC and ) ( JJ anticipated ) ) ( NNS purchases ) ) ( PP ( IN from ) ( NP ( JJ foreign ) ( NNS countries ) ) ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( VP ( VBG supporting ) ( NP ( NNS futures ) ( NNS prices ) ) ) ) )

Announced and anticipated purchases from foreign countries are also supporting futures prices


( SINV ( S-TPC-1 ( S ( NP-SBJ ( JJ Russian ) ( NNS ships ) ) ( VP ( VBP are ) ( VP ( VBG arriving ) ( PP-DIR ( IN in ) ( NP ( DT the ) ( NN gulf ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( RB enough ) ( NN grain ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN pipeline ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Katharina ) ( NNP Zimmer ) ) ( NP ( NP ( DT a ) ( NNS futures ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Merrill ) ( NNP Lynch ) ( CC & ) ( NNP Co. ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) )

Russian ships are arriving in the gulf and there is n't enough grain in the pipeline said Katharina Zimmer a futures analyst with Merrill Lynch & Co. in New York


( S ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NNP Soviet ) ( NNP Union ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN purchased ) ( NP ( NP ( QP ( RB roughly ) ( CD eight ) ( CD million ) ) ( NNS tons ) ) ( PP ( IN of ) ( NP ( NN grain ) ) ) ) ( NP-TMP ( DT this ) ( NN month ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( NN delivery ) ) ( PP-TMP ( IN by ) ( NP ( NN year ) ( NN end ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ) )

The Soviet Union has purchased roughly eight million tons of grain this month and is expected to take delivery by year end analysts said


COTTON


( S ( S ( NP-SBJ ( NNS Futures ) ( NNS prices ) ) ( VP ( VBD rose ) ( ADVP ( RB modestly ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN trading ) ( NN volume ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( RB very ) ( JJ heavy ) ) ) ) )

Futures prices rose modestly but trading volume was n't very heavy


( S ( S ( NP-SBJ ( DT The ) ( NNP December ) ( NN contract ) ) ( VP ( VBD settled ) ( PP-CLR ( IN at ) ( NP ( NP ( NP ( CD 73.97 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN pound ) ) ) ) ) ( ADVP ( RB up ) ( NP ( CD 0.59 ) ( NN cent ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD rose ) ( ADVP-DIR ( ADVP ( RB as ) ( JJ high ) ) ( PP ( IN as ) ( NP ( CD 74.20 ) ( NNS cents ) ) ) ) ) ) )

The December contract settled at 73.97 cents a pound up 0.59 cent but it rose as high as 74.20 cents


( S ( NP-SBJ ( JJ Several ) ( NN cotton ) ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN move ) ) ( VP ( VBD appeared ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB mostly ) ( JJ technical ) ) ) ) ) ) ) ) ) )

Several cotton analysts said that the move appeared to be mostly technical


( S ( NP-SBJ-2 ( NP ( NNS Traders ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN sold ) ( NP ( NNS contracts ) ) ( ADVP-TMP ( RBR earlier ) ) ( PP ( IN in ) ( NP ( NP ( NNS hopes ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG buying ) ( NP ( PRP them ) ) ( ADVP-CLR ( RB back ) ) ( PP-CLR ( IN at ) ( NP ( JJR lower ) ( NNS prices ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-TMP ( NN yesterday ) ) ( VP ( VBD were ) ( VP ( VBG buying ) ( NP ( NNS contracts ) ) ( ADVP-CLR ( RB back ) ) ( PP-CLR ( IN at ) ( NP ( JJR higher ) ( NNS prices ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB limit ) ( NP ( PRP$ their ) ( NNS losses ) ) ) ) ) ) ) )

Traders who had sold contracts earlier in hopes of buying them back at lower prices yesterday were buying contracts back at higher prices to limit their losses


( S ( NP-SBJ ( NN Floor ) ( NNS traders ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( NN market ) ) ( VP ( MD could ) ( VP ( VB have ) ( VP ( VBN been ) ( VP ( VBN helped ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS rumors ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG circulating ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ past ) ( CD two ) ( NNS days ) ) ) ) ) ) ) ) ( PP ( IN about ) ( S-NOM ( NP-SBJ ( NNP China ) ) ( VP ( VBG purchasing ) ( NP ( NN cotton ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Floor traders also said that the market could have been helped by rumors which have been circulating for the past two days about China purchasing cotton


( S ( NP-SBJ ( NP ( DT The ) ( NN rumor ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( RB neither ) ( VBN confirmed ) ( CC nor ) ( VBN denied ) ) ) ) ) ) ) ( VP ( VBZ has ) ( S ( NP-SBJ ( NNP China ) ) ( VP ( VBG buying ) ( NP ( QP ( CD 125,000 ) ( TO to ) ( CD 200,000 ) ) ( NNS bales ) ) ( PP ( IN for ) ( NP ( JJ near-term ) ( NN delivery ) ) ) ) ) ) )

The rumor which has been neither confirmed nor denied has China buying 125,000 to 200,000 bales for near-term delivery


( S ( NP-SBJ ( CD One ) ( NN floor ) ( NN trader ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD were ) ( NP-PRD ( JJ Chinese ) ( NNS purchases ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( MD should ) ( VP ( VB have ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJR bigger ) ( NN effect ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) )

One floor trader said that if there were Chinese purchases they should have had a bigger effect on the market


( S ( NP-SBJ ( DT Another ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NNP China ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NN buyer ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJS earliest ) ) ( SBAR ( S ( NP-SBJ ( IN that ) ( NN country ) ) ( VP ( VBD had ) ( VP ( VBN made ) ( NP ( NNS purchases ) ) ) ) ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( CD 1979-80 ) ( NN crop ) ( NN year ) ) ) ) ) ) ( CC and ) ( VP ( ADVP ( RB thus ) ) ( MD would ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( JJ bullish ) ( NN sign ) ) ) ) ) ) ) ) )

Another said that if China was a buyer it would be the earliest that country had made purchases since the 1979-80 crop year and thus would be a bullish sign


( S ( NP-SBJ ( DT This ) ( NN trader ) ) ( VP ( VBD characterized ) ( NP ( DT the ) ( JJ recent ) ( NN price ) ( NN action ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN contest ) ) ( PP ( IN between ) ( NP ( NP ( NP ( DT the ) ( NNS fundamentalists ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP see ) ( NP ( JJR higher ) ( NNS prices ) ) ( ADVP-LOC-CLR ( RB ahead ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NNS technicians ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP are ) ( ADVP ( RB basically ) ) ( VP ( VP ( VBG buying ) ( NP ( NN cotton ) ) ( PP-CLR ( IN toward ) ( NP ( NP ( NP ( DT the ) ( NN bottom ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ current ) ( NN trading ) ( NN range ) ) ) ) ( NP ( QP ( IN around ) ( CD 71 ) ) ( NNS cents ) ) ) ) ) ( CC and ) ( VP ( VBG selling ) ( NP ( PRP it ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN price ) ) ( VP ( VBZ climbs ) ( NP-EXT ( QP ( JJR more ) ( IN than ) ( CD 74 ) ) ( NNS cents ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This trader characterized the recent price action as a contest between the fundamentalists who see higher prices ahead and the technicians who are basically buying cotton toward the bottom of the current trading range around 71 cents and selling it when the price climbs more than 74 cents


( S ( NP-SBJ ( DT This ) ( NN trader ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( MD would ) ( VP ( VB turn ) ( ADJP-PRD ( RB aggressively ) ( JJ bullish ) ( PP ( IN from ) ( NP ( DT a ) ( JJ technical ) ( NN standpoint ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( DT the ) ( NNP December ) ( NN contract ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB exceed ) ( NP ( CD 75.75 ) ( NNS cents ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This trader said that he thought the market would turn aggressively bullish from a technical standpoint if the December contract was able to exceed 75.75 cents


( S ( NP-SBJ ( PRP He ) ) ( ADVP ( RB also ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS stocks ) ) ( PP-TMP ( IN on ) ( NP ( NNP Aug. ) ( CD 1 ) ( CD 1990 ) ) ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBN projected ) ( PP-CLR ( IN at ) ( NP ( NP ( QP ( CD 3.3 ) ( CD million ) ) ( NNS bales ) ) ( NP ( NP ( DT the ) ( JJS smallest ) ( JJ end-of-season ) ( NN supply ) ) ( PP-TMP ( IN since ) ( NP ( CD 1985 ) ) ) ) ) ) ) ) ) ) ) )

He also noted that stocks on Aug. 1 1990 are currently projected at 3.3 million bales the smallest end-of-season supply since 1985


COCOA


( S ( NP-SBJ ( NP ( DT The ) ( JJ modest ) ( NN sell-off ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBN started ) ( PP-TMP ( IN on ) ( NP ( NNP Tuesday ) ) ) ) ) ) ) ( VP ( VBD continued ) ) )

The modest sell-off which started on Tuesday continued


( S ( NP-SBJ ( DT The ) ( NNP December ) ( NN contract ) ) ( VP ( VBN ended ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 999 ) ) ( NP-ADV ( DT a ) ( JJ metric ) ( NN ton ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 15 ) ) ) ) )

The December contract ended at 999 a metric ton down 15


( S ( NP-SBJ ( DT The ) ( NN market ) ) ( VP ( VBZ is ) ( VP ( VBG drifting ) ( PP-PRP ( ADVP ( ADVP ( IN at ) ( JJS least ) ) ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( NN lack ) ) ( PP ( IN of ) ( NP ( NP ( NN crop ) ( NN information ) ) ( PP ( IN out ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Ghana ) ) ( CC and ) ( NP ( DT the ) ( NNP Ivory ) ( NNP Coast ) ) ) ( NP ( DT the ) ( CD two ) ( JJS largest ) ( JJ African ) ( NNS producers ) ) ) ) ) ) ) ) ) ) ) )

The market is drifting at least partly because of a lack of crop information out of Ghana and the Ivory Coast the two largest African producers


( S ( NP-SBJ ( NP ( NNP Harry ) ( NNP Schwartz ) ) ( NP ( NP ( DT a ) ( JJ soft ) ( NN commodity ) ( NN specialist ) ) ( PP ( IN for ) ( NP ( NP ( NNP Cargill ) ( NNPS Investors ) ( NNPS Services ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ only ) ( NN report ) ) ( SBAR ( S ( NP-SBJ ( NNP Ghana ) ) ( VP ( VBZ has ) ( VP ( VBN issued ) ) ) ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN arrival ) ) ( PP ( IN of ) ( NP ( NN cocoa ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN interior ) ) ) ) ) ) ( VP ( VBD was ) ( PP-PRD ( IN for ) ( NP ( NP ( CD 7,839 ) ( JJ metric ) ( NNS tons ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Oct. ) ( CD 12 ) ) ) ) ) ) ) ) ) ) )

Harry Schwartz a soft commodity specialist for Cargill Investors Services in New York said the only report Ghana has issued about the arrival of cocoa from the interior was for 7,839 metric tons as of Oct. 12


( S-2 ( PP-TMP ( IN By ) ( NP ( NP ( DT this ) ( NN time ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD noted ) ) ) ) ( NP-SBJ-1 ( NP ( NNS arrivals ) ) ( VP ( VBG totaling ) ( NP ( CD 33,270 ) ( NNS tons ) ) ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN announced ) ) ) ) )

By this time last year he noted arrivals totaling 33,270 tons had been announced


( S ( NP-SBJ ( DT A ) ( JJ similar ) ( NN situation ) ) ( ADVP ( RB apparently ) ) ( VP ( VBZ exists ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Ivory ) ( NNP Coast ) ) ) ( SBAR-ADV ( IN with ) ( S ( NP-SBJ-1 ( DT no ) ( NNS figures ) ) ( VP ( VBN released ) ( ADVP-TMP ( RB yet ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 55,000 ) ( NNS tons ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NP ( DT this ) ( NN time ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) ) ) ) ) )

A similar situation apparently exists in the Ivory Coast with no figures released yet this year compared with 55,000 tons as of this time a year ago


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( JJ little ) ( NN cocoa ) ) ( ADVP ( RB actually ) ) ( VP ( VBZ has ) ( VP ( VBN arrived ) ( PP-DIR ( IN at ) ( NP ( DT the ) ( NNS ports ) ) ) ) ) ) ) ( NP-SBJ ( NN shipping ) ( NNS delays ) ) ( VP ( MD could ) ( VP ( VB result ) ) ) ) ) ) )

He said that if little cocoa actually has arrived at the ports shipping delays could result


( S ( S-TPC-2 ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN worry ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP ( RB probably ) ) ( VP ( VBD brought ) ( NP ( NN steadiness ) ) ( PP-DTV ( TO to ) ( NP ( DT the ) ( NN market ) ) ) ( ADVP-TMP ( RB earlier ) ( PP ( IN in ) ( NP ( DT the ) ( NN week ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

This is the worry that probably brought steadiness to the market earlier in the week he said


( S ( NP-SBJ ( EX There ) ) ( VP ( VBD was ) ( ADVP ( RB also ) ) ( NP-PRD ( DT some ) ( NN fear ) ( SBAR ( IN that ) ( S ( PP ( IN without ) ( NP ( NNP Ivory ) ( NNP Coast ) ( NN cocoa ) ) ) ( NP-SBJ-2 ( NP ( DT a ) ( JJ large ) ( JJ French ) ( NN cocoa ) ( NN merchant ) ) ( NP ( NNP Cie ) ( NNP Financiere ) ( NNP Sucre ) ( FW et ) ( NNP Denrees ) ) ) ( VP ( MD might ) ( RB not ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( NN cocoa ) ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NNS contracts ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( VP ( VBN sold ) ( ADVP-TMP ( RB earlier ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NNP December ) ( NN delivery ) ) ( PP-LOC ( IN in ) ( NP ( NNP London ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

There was also some fear that without Ivory Coast cocoa a large French cocoa merchant Cie Financiere Sucre et Denrees might not be able to deliver cocoa against the contracts it had sold earlier for December delivery in London


( S ( ADVP ( RB However ) ) ( NP-SBJ ( DT the ) ( JJ French ) ( NN merchant ) ) ( VP ( VBZ has ) ( NP ( NP ( NP ( QP ( IN about ) ( CD 200,000 ) ) ( NNS tons ) ) ( PP ( IN of ) ( NP ( JJ old ) ( NN crop ) ( NNP Ivory ) ( NNP Coast ) ( NN cocoa ) ) ) ) ( VP ( VBN stored ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Netherlands ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT an ) ( NN agreement ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( VP ( VBN negotiated ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP Ivory ) ( NNP Coast ) ) ) ( NP-TMP ( JJ last ) ( NN spring ) ) ) ) ) ) ) ) ) ) )

However the French merchant has about 200,000 tons of old crop Ivory Coast cocoa stored in the Netherlands from an agreement it had negotiated with the Ivory Coast last spring


( S ( NP-SBJ ( NNP Cargill ) ) ( VP ( VBZ thinks ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( RB even ) ( IN though ) ( S ( NP-SBJ ( DT the ) ( NN merchant ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( NN contract ) ) ( VP ( VBG stating ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB bring ) ( NP ( DT this ) ( NN cocoa ) ) ( PP-DIR ( TO to ) ( NP ( NN market ) ) ) ( PP-TMP ( IN until ) ( PP ( IN after ) ( NP ( NNP March ) ( CD 1991 ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( DT some ) ( NN evidence ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN contract ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN modified ) ) ) ) ) ) ) ) ) ) ) )

Cargill thinks that even though the merchant has a contract stating that it wo n't bring this cocoa to market until after March 1991 there is some evidence the contract has been modified


( S ( NP-SBJ ( DT This ) ( NN modification ) ) ( ADVP ( RB apparently ) ) ( VP ( MD would ) ( VP ( VB permit ) ( S ( NP-SBJ ( DT the ) ( JJ French ) ( NN merchant ) ) ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( DT this ) ( NN cocoa ) ) ( SBAR-ADV ( IN if ) ( FRAG ( ADJP ( JJ necessary ) ) ) ) ( PP ( IN against ) ( NP ( VBG existing ) ( JJ short ) ( NNS positions ) ) ) ) ) ) ) ) )

This modification apparently would permit the French merchant to deliver this cocoa if necessary against existing short positions


( S ( NP-SBJ ( NNP Advanced ) ( NNP Medical ) ( NNPS Technologies ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD purchased ) ( NP ( NP ( CD 93 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Henley ) ( NNP Group ) ( NNP Inc ) ) ) ) ) ) ) ) ) ) )

Advanced Medical Technologies Inc. said it purchased 93 % of a unit of Henley Group Inc


( S ( NP-SBJ ( NNP Advanced ) ( NNP Medical ) ) ( VP ( VBD paid ) ( NP ( NP ( QP ( CD 106 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN cash ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( PRP$ its ) ( NN share ) ) ( PP ( IN in ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NN Henley ) ( POS 's ) ) ( NNP Fisher ) ( NNP Scientific ) ( NN subsidiary ) ) ) ) ) ) ) ) )

Advanced Medical paid 106 million in cash for its share in a unit of Henley 's Fisher Scientific subsidiary


( S ( NP-SBJ ( DT The ) ( NN unit ) ) ( VP ( VP ( VBZ makes ) ( NP ( NP ( JJ intravenous ) ( NNS pumps ) ) ( VP ( VBN used ) ( PP ( IN by ) ( NP-LGS ( NNS hospitals ) ) ) ) ) ) ( CC and ) ( VP ( VBD had ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 110 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS sales ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP Advanced ) ( NNP Medical ) ) ) ) ) )

The unit makes intravenous pumps used by hospitals and had more than 110 million in sales last year according to Advanced Medical


( S ( NP-SBJ ( JJ French ) ( NN consumer ) ( NNS prices ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 0.2 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-DIR ( IN from ) ( NP-TMP ( NNP August ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( JJ provisional ) ( NNS estimates ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP National ) ( NNPS Statistics ) ( NNP Institute ) ) ) ) ) ) ) )

French consumer prices rose 0.2 % in September from August according to provisional estimates by the National Statistics Institute


( S ( NP-SBJ ( DT The ) ( NN agency ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( NN strike ) ) ( PP ( IN by ) ( NP ( NNP Finance ) ( NNP Ministry ) ( NNS personnel ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ provisional ) ( NN estimate ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB correspond ) ( ADVP-MNR ( RB exactly ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN consumer ) ( NN price ) ( NN index ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBN published ) ) ) ) ) ) ) ) ) )

The agency noted that because of a strike by Finance Ministry personnel the provisional estimate does n't correspond exactly to the consumer price index usually published


( S ( NP-SBJ ( DT The ) ( NN agency ) ) ( VP ( VBD noted ) ( ADVP ( RB however ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN estimate ) ) ( VP ( MD will ) ( ADVP ( RB likely ) ) ( VP ( VB be ) ( VP ( VBN confirmed ) ) ) ) ) ) ) )

The agency noted however the estimate will likely be confirmed


( S ( S ( NP-SBJ ( DT The ) ( NN institute ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB estimate ) ( NP ( JJ annual ) ( NN price ) ( NN growth ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( DT a ) ( ADJP ( CD 0.2 ) ( NN % ) ) ( NN rise ) ) ( PP ( IN by ) ( NP ( DT the ) ( NN consumer ) ( NN price ) ( NN index ) ) ) ) ( VP ( MD would ) ( VP ( VB put ) ( NP ( NN growth ) ) ( PP-PUT ( IN at ) ( NP ( NP ( CC either ) ( CD 178.8 ) ( CC or ) ( CD 178.9 ) ) ( ADVP ( RB up ) ( NP-EXT ( NP ( CD 3.3 ) ( NN % ) ) ( CC or ) ( NP ( CD 3.4 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( JJ year-earlier ) ( NN level ) ) ( PP ( IN of ) ( NP ( CD 173.1 ) ) ) ) ) ) ) ) ) ) ) )

The institute did n't estimate annual price growth in September but a 0.2 % rise by the consumer price index would put growth at either 178.8 or 178.9 up 3.3 % or 3.4 % from the year-earlier level of 173.1


( S ( NP-SBJ ( DT The ) ( NN index ) ) ( VP ( VP ( VBD was ) ( NP-PRD ( CD 178.5 ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( S-NOM ( NP-SBJ ( CD 1980 ) ) ( VP ( VBG equaling ) ( NP ( CD 100 ) ) ) ) ) ) ) ) )

The index was 178.5 in August and is based on 1980 equaling 100


( S ( S-TPC-4 ( PP ( IN After ) ( S-NOM ( VP ( VBG coming ) ( ADVP-DIR ( RB close ) ( PP ( TO to ) ( NP ( DT a ) ( JJ partial ) ( NN settlement ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) ( NP-SBJ-3 ( NP ( NNS shareholders ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD filed ) ( NP ( NP ( JJ civil ) ( NNS suits ) ) ( PP ( IN against ) ( NP ( NP ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ) ( CC and ) ( NP ( NP ( DT the ) ( NNS partnerships ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( ADVP ( RB once ) ) ( VP ( VBD controlled ) ) ) ) ) ) ) ) ) ) ) ) ( ADVP-TMP ( RB again ) ) ( VP ( VBP are ) ( VP ( VBG approaching ) ( NP ( DT an ) ( NN accord ) ) ) ) ) ( NP-SBJ ( NP ( NNS people ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN case ) ) ) ) ) ( VP ( VBD said ) ) )

After coming close to a partial settlement a year ago shareholders who filed civil suits against Ivan F. Boesky and the partnerships he once controlled again are approaching an accord people familiar with the case said


( SINV ( S-TPC-2 ( ADVP ( RB Meanwhile ) ) ( PP-TMP ( IN within ) ( NP ( DT the ) ( ADJP ( JJ next ) ( JJ few ) ) ( NNS weeks ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( JJ limited ) ( NNS partners ) ) ( PP-LOC ( IN in ) ( NP ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ( CC & ) ( NNP Co ) ( NN L.P. ) ) ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB reach ) ( NP ( NP ( DT a ) ( JJ partial ) ( NN settlement ) ) ( PP ( IN with ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ) ( VP ( VBG regarding ) ( NP ( NP ( DT the ) ( NN distribution ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( QP ( CD 330 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN partnership ) ( NNS assets ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS individuals ) ) ) ) )

Meanwhile within the next few weeks the limited partners in Ivan F. Boesky & Co L.P. are expected to reach a partial settlement with Drexel Burnham Lambert Inc. regarding the distribution of the 330 million in partnership assets said one of the individuals


( S ( S-TPC-1 ( PP ( IN Under ) ( NP ( NP ( DT the ) ( NNS terms ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN settlement ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ limited ) ( NNS partners ) ) ( VP ( MD would ) ( VP ( VB drop ) ( NP ( NP ( PRP$ their ) ( JJ civil ) ( NNS suits ) ) ( PP ( IN against ) ( NP ( NNP Drexel ) ) ) ( VP ( ADVP-TMP ( RB now ) ) ( VBG pending ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ federal ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT another ) ( NN individual ) ) ( VP ( VBD said ) ) )

Under the terms of the settlement the limited partners would drop their civil suits against Drexel now pending in federal court in New York another individual said


( S ( NP-SBJ ( NP ( NNS Attorneys ) ) ( VP ( VBN involved ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NNS talks ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS parties ) ) ( VP ( VBD were ) ( ADVP-PRD ( ADVP ( JJR closer ) ) ( PP ( TO to ) ( NP ( VB accord ) ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( ADVP-TMP ( ADVP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NP ( NNS reports ) ) ( PP ( IN of ) ( NP ( DT an ) ( JJ imminent ) ( NN agreement ) ) ) ) ( VP ( VBD circulated ) ) ) ) ) ) ) ) ) ) ) ) ) )

Attorneys involved in the talks said that the parties were closer to accord than they were a year ago when reports of an imminent agreement circulated


( S ( NP-SBJ ( CD One ) ( NN individual ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( NNS shareholders ) ( POS ' ) ) ( NN accord ) ) ( VP ( VBD was ) ( ADVP ( RB well ) ) ( VP ( VBN worked ) ( PRT ( RP out ) ) ) ) ) ) ) )

One individual said the shareholders ' accord was well worked out


( S ( ADVP ( RB However ) ) ( NP-SBJ ( ADJP ( RBR less ) ( JJ optimistic ) ) ( NNS attorneys ) ) ( VP ( VBD warned ) ( SBAR ( IN that ) ( S ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( NN tangle ) ) ( PP ( IN of ) ( NP ( NP ( JJ numerous ) ( NNS defendants ) ( CC and ) ( NNS plaintiffs ) ) ( PP ( IN with ) ( NP ( VBG overlapping ) ( NNS claims ) ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB always ) ) ( NP-PRD ( DT the ) ( NN possibility ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS talks ) ) ( VP ( MD will ) ( ADVP ( RB again ) ) ( VP ( VB fall ) ( ADVP-CLR ( RB apart ) ) ) ) ) ) ) ) ) ) ) )

However less optimistic attorneys warned that because of the tangle of numerous defendants and plaintiffs with overlapping claims there is always the possibility that the talks will again fall apart


( S ( NP-SBJ ( NP ( DT A ) ( NNS shareholders ) ( POS ' ) ) ( NN accord ) ) ( VP ( MD would ) ( VP ( VB provide ) ( NP ( NP ( DT the ) ( JJ first ) ( NN restitution ) ) ( PP ( TO to ) ( NP ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( NP ( NNS individuals ) ( CC and ) ( NNS institutions ) ) ( VP ( VBG claiming ) ( NP ( NP ( NNS losses ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NN insider ) ( NN trading ) ) ( PP ( IN by ) ( NP ( NP ( NNP Boesky ) ( CC & ) ( NNP Co. ) ) ( NP ( NP ( ADVP-TMP ( RB once ) ) ( DT the ) ( JJS largest ) ( NN arbitrage ) ( NN fund ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A shareholders ' accord would provide the first restitution to thousands of individuals and institutions claiming losses as a result of insider trading by Boesky & Co. once the largest arbitrage fund in the U.S.


( S ( NP-SBJ ( DT The ) ( NNS plaintiffs ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NNS investors ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD bought ) ( CC and ) ( VBD sold ) ( NP ( NP ( NNS securities ) ) ( SBAR ( WHPP-2 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( CC and ) ( NP ( PRP$ his ) ( NNS partnerships ) ) ) ( VP ( VBD were ) ( VP ( VBG dealing ) ) ) ) ) ) ) ) ) ) ) )

The plaintiffs are investors who bought and sold securities in which Mr. Boesky and his partnerships were dealing


( S ( S ( NP-SBJ-1 ( DT Some ) ) ( VP ( NN claim ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD suffered ) ( NP ( NNS losses ) ) ( SBAR-PRP-2 ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD sold ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBG buying ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NNS others ) ) ( SBAR-PRP=2 ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD bought ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBG selling ) ) ) ) ) ) ) ) ) )

Some claim they suffered losses because they sold while he was buying and others because they bought while he was selling


( S ( NP-SBJ ( NP ( NNS Stocks ) ) ( VP ( VBN involved ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NN shareholder ) ( NNS suits ) ) ) ) ) ( VP ( VBP include ) ( NP ( NP ( NNP Union ) ( NNP Carbide ) ) ( NP ( NNP RJR ) ( NNP Nabisco ) ) ( NP ( NNP American ) ( NNP Natural ) ( NNPS Resources ) ) ( NP ( NNP Boise ) ( NNP Cascade ) ( NNP Corp. ) ) ( NP ( NNP General ) ( NNPS Foods ) ( NNP Corp. ) ) ( NP ( NNP Houston ) ( NNP Natural ) ( NNP Gas ) ) ( CC and ) ( NP ( NNP FMC ) ( NNP Corp ) ) ) ) )

Stocks involved in the shareholder suits include Union Carbide RJR Nabisco American Natural Resources Boise Cascade Corp. General Foods Corp. Houston Natural Gas and FMC Corp


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( QP ( IN at ) ( JJS least ) ( CD 27 ) ) ( JJ class-action ) ( NN shareholder ) ( NNS suits ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN consolidated ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ federal ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( PP-LOC ( IN under ) ( NP ( NNP U.S. ) ( NNP District ) ( NNP Judge ) ( NNP Milton ) ( NNP Pollack ) ) ) ) ) ) ) ) ) ) )

There are at least 27 class-action shareholder suits that have been consolidated in federal court in New York under U.S. District Judge Milton Pollack


( SINV ( PP-LOC-PRD-1 ( IN Among ) ( NP ( DT the ) ( NNS defendants ) ) ) ( VP ( VBP are ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( NP ( DT the ) ( JJ now-defunct ) ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ( CC & ) ( NNP Co. ) ) ( NP ( NP ( NP ( NNP Mr. ) ( NNP Boesky ) ( POS 's ) ) ( JJ main ) ( NN underwriter ) ) ( NP ( NNP Drexel ) ( NNP Burnham ) ) ) ( CC and ) ( NP ( NP ( NNP Cambrian ) ( CC & ) ( NNP General ) ( NNPS Securities ) ( NNP PLC ) ) ( NP ( NP ( DT a ) ( JJ British ) ( NN investment ) ( NN fund ) ) ( VP ( ADVP-TMP ( RB once ) ) ( VBN controlled ) ( PP ( IN by ) ( NP-LGS ( NNP Mr. ) ( NNP Boesky ) ) ) ) ) ) ) )

Among the defendants are Mr. Boesky the now-defunct Ivan F. Boesky & Co. Mr. Boesky 's main underwriter Drexel Burnham and Cambrian & General Securities PLC a British investment fund once controlled by Mr. Boesky


( S ( NP-SBJ ( NP ( NNS Individuals ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NNS negotiations ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ partial ) ( NN settlement ) ) ( VP ( VBG being ) ( VP ( VBN negotiated ) ) ) ) ( VP ( MD would ) ( VP ( VB remove ) ( NP ( NP ( DT the ) ( NNP Boesky ) ( NN partnership ) ) ( NP ( DT the ) ( JJ British ) ( NN fund ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Boesky ) ) ) ( PP-CLR ( IN as ) ( NP ( NNS defendants ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( NNP Drexel ) ) ( CC and ) ( NP ( JJ other ) ( NNS defendants ) ) ) ( VP ( MD would ) ( VP ( VB remain ) ) ) ) ) ) ) ) ) ) )

Individuals familiar with the negotiations said the partial settlement being negotiated would remove the Boesky partnership the British fund and Mr. Boesky as defendants while Drexel and other defendants would remain


( S ( NP-SBJ ( NP ( NNP Charles ) ( NNP Davidow ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( NNP Washington ) ( JJ D.C.-based ) ) ( NN law ) ( NN firm ) ) ( NP ( NNP Wilmer ) ( NNP Cutler ) ( CC & ) ( NNP Pickering ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ represents ) ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN matter ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( ADVP ( RB only ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS discussions ) ) ( VP ( VBP are ) ( PP-PRD ( IN under ) ( NP ( NN way ) ) ) ) ) ) ) )

Charles Davidow of the Washington D.C.-based law firm Wilmer Cutler & Pickering which represents Mr. Boesky in this matter said only that discussions are under way


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( DT no ) ( NNS agreements ) ) ( ADVP ( RB yet ) ) ) )

There are no agreements yet


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( CD three ) ( NNS years ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Boesky ) ) ( S-ADV ( ADVP-TMP ( RB now ) ) ( PP-PRD ( IN in ) ( NP ( NN prison ) ) ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( DT a ) ( ADJP ( QP ( CD 100 ) ( CD million ) ) ) ( NN fine ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB settle ) ( NP ( NP ( DT the ) ( NN government ) ( POS 's ) ) ( NNS charges ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN traded ) ( ADVP-MNR ( RB illegally ) ) ( S-MNR ( VP ( VBG using ) ( NP ( NN insider ) ( NN information ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It has been three years since Mr. Boesky now in prison agreed to pay a 100 million fine to settle the government 's charges that he had traded illegally using insider information


( S ( PP ( IN Out ) ( PP ( IN of ) ( NP ( DT this ) ) ) ) ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBN set ) ( PRT ( RP up ) ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 50 ) ( CD million ) ) ) ( NN fund ) ) ( PP ( IN for ) ( NP ( NP ( NNS plaintiffs ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD can ) ( VP ( VB prove ) ( NP ( PRP$ their ) ( JJ financial ) ( NNS losses ) ) ) ) ) ) ) ) ) ) )

Out of this the government set up a 50 million fund for plaintiffs who can prove their financial losses


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( NNP William ) ( NNP Orbe ) ) ( NP ( NP ( DT an ) ( NN attorney ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Grais ) ( CC & ) ( NNP Richards ) ) ( NP ( NP ( DT the ) ( NN escrow ) ( NNS agents ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN fund ) ) ) ) ) ) ) ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ( NP-SBJ ( DT the ) ( NN fund ) ) ( VP ( VBD amounted ) ( PP-CLR ( TO to ) ( NP ( QP ( CD 60.5 ) ( CD million ) ) ) ) ) )

According to William Orbe an attorney at Grais & Richards the escrow agents for the fund as of Sept. 30 the fund amounted to 60.5 million


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NP ( NNS attorneys ) ) ( PP ( IN for ) ( NP ( DT the ) ( QP ( CD 42 ) ( CC or ) ( RB so ) ) ( JJ limited ) ( NNS partners ) ) ) ) ( VP ( VBP have ) ( VP ( VBN had ) ( NP ( NP ( JJ serious ) ( NNS discussions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB lead ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN distribution ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN partnership ) ( POS 's ) ) ( NNS assets ) ) ) ) ) ) ) ) ) ) ) ) )

Separately attorneys for the 42 or so limited partners have had serious discussions that could lead to the distribution of the partnership 's assets


( S ( NP-SBJ ( DT The ) ( JJ limited ) ( NNS partners ) ) ( VP ( VBP include ) ( NP ( NP ( NN insurance ) ( NNS companies ) ) ( NP ( JJ financial ) ( NNS institutions ) ) ( CC and ) ( NP ( JJ individual ) ( NNS investors ) ) ) ) )

The limited partners include insurance companies financial institutions and individual investors


( S ( NP-SBJ ( NP ( DT An ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NNP Drexel ) ) ) ( VP ( VBG regarding ) ( NP ( NP ( DT the ) ( JJ limited ) ( NNS partners ) ( POS ' ) ) ( NNS investments ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT an ) ( JJ essential ) ( NN step ) ) ( PP ( IN toward ) ( S-NOM ( VP ( VBG getting ) ( NP ( PRP$ their ) ( NN money ) ) ( PRT ( RB back ) ) ) ) ) ) ) )

An agreement with Drexel regarding the limited partners ' investments is an essential step toward getting their money back


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( SBAR-PRP-PRD ( IN because ) ( S ( NP-SBJ ( DT a ) ( NNP Delaware ) ( NN court ) ) ( NP-TMP ( RBR earlier ) ( DT this ) ( NN year ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNP Drexel ) ) ( VP ( VBZ is ) ( VP ( VBN entitled ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( PRP$ its ) ( NN money ) ) ( PRT ( RP back ) ) ( PP-TMP ( PP ( IN before ) ) ( CC or ) ( PP ( IN at ) ( NP ( NP ( DT the ) ( JJ same ) ( NN time ) ) ( PP ( IN as ) ) ) ) ( NP-1 ( DT the ) ( JJ limited ) ( NNS partners ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This is because a Delaware court earlier this year said that Drexel is entitled to get its money back before or at the same time as the limited partners


( S ( NP-SBJ-1 ( NNP Drexel ) ) ( VP ( VBZ is ) ( VP ( VBN owed ) ( NP ( QP ( CD 20 ) ( CD million ) ) ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN partnership ) ) ) ) ) )

Drexel is owed 20 million by the partnership


( S ( NP-SBJ ( NP ( DT An ) ( NN individual ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NNS negotiations ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-NOM-TPC-2 ( WHNP-1 ( WDT whatever ) ( NNS investments ) ) ( S ( NP-SBJ ( DT the ) ( JJ limited ) ( NNS partners ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB recoup ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( QP ( CD 330 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN partnership ) ( NNS assets ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( MD will ) ( VP ( VB receive ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 350 ) ( CD million ) ) ) ( NN restitution ) ( NN fund ) ) ( ADJP ( JJ available ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Drexel ) ( POS 's ) ) ( NN settlement ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN government ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP December ) ( CD 1988 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

An individual familiar with the negotiations said that whatever investments the limited partners do not recoup from the 330 million in partnership assets they will receive from the 350 million restitution fund available as a result of Drexel 's settlement with the government in December 1988


( S ( NP-SBJ-4 ( NNP Drexel ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VP ( VB plead ) ( ADJP ( JJ guilty ) ( PP ( TO to ) ( NP ( CD six ) ( NN felony ) ( NNS counts ) ) ) ) ) ( CC and ) ( VP ( VB pay ) ( NP ( NP ( QP ( CD 650 ) ( CD million ) ) ) ( SBAR ( WHPP-5 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-1 ( NP ( QP ( CD 350 ) ( CD million ) ) ) ) ( VP ( VBD was ) ( VP ( VBN set ) ( ADVP-CLR ( RB aside ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS shareholders ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS plaintiffs ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( JJ limited ) ( NNS partners ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBP claim ) ( SBAR ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBN injured ) ( PP ( IN by ) ( NP-LGS ( NNP Drexel ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Drexel agreed to plead guilty to six felony counts and pay 650 million of which 350 million was set aside for shareholders and other plaintiffs including the limited partners who claim they were injured by Drexel


( S-HLN ( NP-SBJ ( VBN JAILED ) ( JJ AFRICAN-AMERICAN ) ( NN activist ) ) ( VP ( VBZ wins ) ( NP ( NP ( DT a ) ( NN battle ) ) ( PP ( IN against ) ( NP ( DT the ) ) ) ) ) )

JAILED AFRICAN-AMERICAN activist wins a battle against the


( S ( NP-SBJ ( NNP U.S. ) ( NNP District ) ( NNP Judge ) ( NNP Robert ) ( NNP P. ) ( NNP Patterson ) ( NNP Jr. ) ) ( VP ( VBD ordered ) ( NP-1 ( DT the ) ( NNP FBI ) ) ( S ( VP ( TO to ) ( ADVP-TMP ( RB immediately ) ) ( VP ( VB begin ) ( S ( VP ( VBG processing ) ( NP ( NP ( NP ( NNP Herman ) ( NNP Benjamin ) ( NNP Ferguson ) ( POS 's ) ) ( NN request ) ) ( PP ( IN for ) ( NP ( NP ( NNS documents ) ) ( VP ( VBG stemming ) ( PP ( IN from ) ( NP ( NP ( NP ( DT the ) ( NN agency ) ( POS 's ) ) ( NN investigation ) ) ( PP ( IN of ) ( NP ( PRP him ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NNS 1960s ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

U.S. District Judge Robert P. Patterson Jr. ordered the FBI to immediately begin processing Herman Benjamin Ferguson 's request for documents stemming from the agency 's investigation of him during the 1960s


( S ( NP-SBJ ( DT The ) ( NNP FBI ) ) ( VP ( VBD had ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD would ) ( RB not ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG processing ) ( NP ( DT the ) ( NN request ) ) ) ) ) ) ) ) ( PP-TMP ( IN until ) ( NP ( NNP June ) ) ) ) ) ) ) ) ) )

The FBI had said it would not be able to begin processing the request until June


( S ( NP-SBJ-2 ( NP ( NNP Mr. ) ( NNP Ferguson ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( NP ( CD 68 ) ( NNS years ) ) ( JJ old ) ) ) ) ) ) ( VP ( VBD fled ) ( NP ( DT the ) ( NNP U.S. ) ) ( PP-TMP ( IN in ) ( NP ( CD 1970 ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG exhausting ) ( NP ( NP ( PRP$ his ) ( NNS appeals ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( CD 1968 ) ( NN conviction ) ) ( PP ( IN on ) ( NP ( NP ( NN conspiracy ) ) ( PP ( TO to ) ( NP ( NN murder ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Ferguson who is 68 years old fled the U.S. in 1970 after exhausting his appeals of a 1968 conviction on conspiracy to murder


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD turned ) ( NP ( PRP himself ) ) ( PRT ( RP in ) ) ( PP-CLR ( TO to ) ( NP ( NNS authorities ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( NP-TMP ( RBR earlier ) ( DT this ) ( NN year ) ) ) )

He turned himself in to authorities in New York earlier this year


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ maintains ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN information ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP FBI ) ) ) ) ( VP ( MD will ) ( VP ( VB help ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( VB get ) ( S ( S ( NP-SBJ-1 ( PRP$ his ) ( CD 1968 ) ( NN conviction ) ) ( VP ( VBN vacated ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP$ his ) ( NN bail-jumping ) ( NN indictment ) ) ( VP ( VBN dismissed ) ) ) ) ) ) ) ) ) ) ) )

He maintains that the information from the FBI will help him get his 1968 conviction vacated and his bail-jumping indictment dismissed


( S ( NP-SBJ ( PRP$ His ) ( NNS attorneys ) ) ( VP ( VBP claim ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBN framed ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP FBI ) ) ( CC and ) ( NP ( NNP New ) ( NNP York ) ( NNS police ) ) ) ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN campaign ) ( S ( VP ( TO to ) ( VP ( VB destroy ) ( NP ( NP ( DT the ) ( JJ black ) ( NN liberation ) ( NN movement ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS 1960s ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

His attorneys claim he was framed by the FBI and New York police as part of a campaign to destroy the black liberation movement of the 1960s


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT the ) ( JJ federal ) ( NAC ( NNP Freedom ) ( PP ( IN of ) ( NP ( NNP Information ) ( NNP Act ) ) ) ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( NN law ) ) ( PP-TMP ( IN at ) ( NP ( DT that ) ( NN time ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP FBI ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN required ) ( S ( VP ( TO to ) ( VP ( VB turn ) ( PRT ( RP over ) ) ( NP ( NP ( NN information ) ) ( PP ( IN on ) ( NP ( PRP$ its ) ( NNS investigations ) ) ) ) ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Ferguson ) ) ( VP ( VBD appealed ) ( NP ( PRP$ his ) ( NN conviction ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNS 1960s ) ) ) ) ) ) ) ) )

Because the federal Freedom of Information Act was n't law at that time the FBI was n't required to turn over information on its investigations when Mr. Ferguson appealed his conviction in the 1960s


( S ( CC But ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ federal ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP Manhattan ) ) ) ) ) ( NP-SBJ ( NNP Judge ) ( NNP Patterson ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP FBI ) ( NNS records ) ) ( VP ( MD could ) ( VP ( VB show ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Ferguson ) ( POS 's ) ) ( NN arrest ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN result ) ) ( PP ( IN of ) ( NP ( JJ questionable ) ( JJ legal ) ( NNS practices ) ) ) ) ) ) ) ) ) ) ) ) )

But in federal court in Manhattan Judge Patterson said the FBI records could show that Mr. Ferguson 's arrest was the result of questionable legal practices


( S ( NP-SBJ ( DT The ) ( NN judge ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NNP FBI ) ( POS 's ) ) ( VBN proposed ) ( NN schedule ) ) ( VP ( VBD was ) ( VP ( VBN followed ) ( PP ( IN in ) ( S-NOM ( VP ( VBG releasing ) ( NP ( DT the ) ( NNS documents ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT a ) ( NN delay ) ) ( PP ( IN of ) ( NP ( QP ( IN over ) ( CD one ) ) ( NN year ) ) ) ) ( VP ( MD will ) ( VP ( VB have ) ( VP ( VBN occurred ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN plaintiff ) ) ( VP ( MD will ) ( VP ( VB have ) ( VP ( VBD served ) ( NP ( NP ( QP ( RB approximately ) ( NNS two-thirds ) ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( ADJP ( CD 3 ) ( JJ 1\/2-year ) ) ( JJ minimum ) ( NN sentence ) ) ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ receives ) ( NP ( DT the ) ( NNS files ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The judge said that if the FBI 's proposed schedule was followed in releasing the documents a delay of over one year will have occurred and plaintiff will have served approximately two-thirds of his 3 1\/2-year minimum sentence by the time he receives the files


( S ( NP-SBJ ( NP ( NNP Gabriel ) ( NNP W. ) ( NNP Gorenstein ) ) ( NP ( NP ( DT the ) ( NN assistant ) ( NNP U.S. ) ( NN attorney ) ) ( VP ( VBG handling ) ( NP ( DT the ) ( NN case ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP FBI ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( NP ( DT no ) ( NN decision ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN made ) ( PP-1 ( IN about ) ( S-NOM ( VP ( VBG appealing ) ( NP ( NP ( DT the ) ( NN judge ) ( POS 's ) ) ( NN ruling ) ) ) ) ) ) ) ) ) ) ) )

Gabriel W. Gorenstein the assistant U.S. attorney handling the case for the FBI said no decision has been made about appealing the judge 's ruling


( S-HLN ( NP-SBJ-1 ( JJ FEDERAL ) ( NNS COURTS ) ) ( VP ( VBN URGED ) ( S ( VP ( TO to ) ( VP ( VP ( VB cut ) ( NP ( NP ( NNS costs ) ) ) ) ( CC and ) ( VP ( VB reduce ) ( NP ( NP ( NNS delays ) ) ) ) ( PP-2 ( IN of ) ( NP ( JJ civil ) ( NNS suits ) ) ) ) ) ) ) )

FEDERAL COURTS URGED to cut costs and reduce delays of civil suits


( S ( NP-SBJ ( NP ( DT The ) ( NN study ) ) ( VP ( VBN conducted ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN task ) ( NN force ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Brookings ) ( NNP Institution ) ) ) ) ) ) ) ( VP ( VBZ suggests ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( MD should ) ( VP ( VB require ) ( S ( NP-SBJ ( DT the ) ( NNS courts ) ) ( VP ( TO to ) ( VP ( VB develop ) ( NP ( DT the ) ( NNS plans ) ) ) ) ) ) ) ) ) ) )

The study conducted by a task force of the Brookings Institution suggests that Congress should require the courts to develop the plans


( S ( NP-SBJ-1 ( DT The ) ( NN study ) ) ( VP ( VBD was ) ( VP ( VBN initiated ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Senate ) ( NNP Judiciary ) ( NNP Committee ) ( NN chairman ) ( NNP Joseph ) ( NNP Biden ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP Del ) ) ) ) ) ) ) ) )

The study was initiated by Senate Judiciary Committee chairman Joseph Biden D. Del


( S ( NP-SBJ ( DT The ) ( NNP Washington ) ( NNP D.C. ) ( NN think ) ( NN tank ) ) ( VP ( VBZ recommends ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNS courts ) ) ( VP ( VB adopt ) ( NP ( NP ( JJ different ) ( NNS tracks ) ) ( PP ( IN for ) ( NP ( NP ( JJ different ) ( NNS types ) ) ( PP ( IN of ) ( NP ( JJ civil ) ( NNS cases ) ) ) ) ) ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB separate ) ( NP ( NP ( DT the ) ( NN handling ) ) ( PP ( IN of ) ( NP ( ADJP ( RB highly ) ( JJ complex ) ) ( NNS suits ) ) ) ) ( PP-CLR ( IN from ) ( NP ( JJR simpler ) ( NNS ones ) ) ) ) ) ) ) ) ) ) ) )

The Washington D.C. think tank recommends that the courts adopt different tracks for different types of civil cases in order to separate the handling of highly complex suits from simpler ones


( S ( NP-SBJ ( NP ( JJ Complex ) ( NNS cases ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( JJ antitrust ) ( NNS suits ) ) ( CC and ) ( NP ( JJ many ) ( NN business ) ( NNS disputes ) ) ) ) ) ( VP ( MD would ) ( VP ( VB receive ) ( NP ( NP ( JJ intense ) ( NN supervision ) ) ( PP ( IN by ) ( NP ( JJ federal ) ( NNS judges ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( JJ pretrial ) ( NNS proceedings ) ) ( VP ( VBG moving ) ) ) ) ) ) ) ) )

Complex cases such as antitrust suits and many business disputes would receive intense supervision by federal judges to keep pretrial proceedings moving


( S ( S ( NP-SBJ ( JJ Standard ) ( NNS cases ) ) ( VP ( MD would ) ( VP ( VB require ) ( NP ( JJR less ) ( JJ judicial ) ( NN attention ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( JJ fast-track ) ( NNS cases ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN resolved ) ( ADVP-MNR ( RB quickly ) ) ) ) ) ) )

Standard cases would require less judicial attention and fast-track cases could be resolved quickly


( S ( NP-SBJ ( DT The ) ( NN study ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT each ) ( JJ federal ) ( NN court ) ) ( VP ( MD should ) ( VP ( VB set ) ( NP ( NP ( JJ strict ) ( NN time ) ( NNS limits ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ pretrial ) ( NN exchange ) ) ( PP ( IN of ) ( NP ( NNS documents ) ( CC and ) ( NN evidence ) ) ) ) ) ( VP ( VBG ranging ) ( PP ( PP ( IN from ) ( NP ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 100 ) ) ( NNS days ) ) ( PP ( IN for ) ( NP ( NP ( NNS cases ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ fast ) ( NN track ) ) ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 18 ) ) ( NNS months ) ) ( PP ( IN for ) ( NP ( JJ complex ) ( NNS disputes ) ) ) ) ) ) ) ) ) ) ) ) ) )

The study also said each federal court should set strict time limits for the pretrial exchange of documents and evidence ranging from as much as 100 days for cases in the fast track to as much as 18 months for complex disputes


( S ( CC And ) ( NP-SBJ ( DT the ) ( NN study ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ federal ) ( NNS courts ) ) ( VP ( MD should ) ( VP ( VB set ) ( NP ( JJ firm ) ( NN trial ) ( NNS dates ) ) ( ADVP-TMP ( ADVP ( RB early ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN process ) ) ) ) ) ) ) ) ) )

And the study said federal courts should set firm trial dates early in the process


( S-2 ( S-PRP ( VP ( TO To ) ( VP ( VB take ) ( NP-CLR ( NN advantage ) ) ( PP-CLR ( IN of ) ( NP ( JJ local ) ( NN expertise ) ( CC and ) ( NN custom ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NN study ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ-1 ( NNP Congress ) ) ( VP ( MD should ) ( VP ( VB require ) ( S ( NP-SBJ ( NP ( DT each ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 94 ) ( JJ federal ) ( NN district ) ( NNS courts ) ) ) ) ( VP ( TO to ) ( VP ( VB adopt ) ( NP ( PRP$ its ) ( JJ own ) ( NN plan ) ( S ( VP ( VP ( TO to ) ( VP ( VB speed ) ( NP ( NP ( DT the ) ( NN handling ) ) ( PP ( IN of ) ( NP ( JJ civil ) ( NNS suits ) ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( JJ high ) ( NNS costs ) ) ( PP-LOC ( IN in ) ( NP ( JJ civil ) ( NNS cases ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

To take advantage of local expertise and custom the study said Congress should require each of the 94 federal district courts to adopt its own plan to speed the handling of civil suits and to reduce the high costs in civil cases


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN study ) ( POS 's ) ) ( NNS recommendations ) ) ) ) ( VP ( VBP resemble ) ( NP ( NP ( DT those ) ) ( PP ( IN of ) ( NP ( JJ similar ) ( NNS projects ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN makeup ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN task ) ( NN force ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB unusually ) ( JJ diverse ) ) ( S-ADV ( VP ( VBG adding ) ( NP ( NN significance ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN effort ) ) ) ) ) ) )

Although some of the study 's recommendations resemble those of similar projects the makeup of the task force was unusually diverse adding significance to the effort


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( NNS lawyers ) ) ( PP ( IN from ) ( NP ( JJ civil ) ( NNS rights ) ( CC and ) ( NN consumer ) ( NNS groups ) ) ) ) ( NP ( NP ( NP ( NNS plaintiffs ) ( POS ' ) ) ( NNS lawyers ) ) ( CC and ) ( NP ( NN defense ) ( NNS attorneys ) ) ) ( NP ( NP ( JJ corporate ) ( NN counsel ) ) ( CC and ) ( NP ( NN law ) ( NNS professors ) ) ) ) ) )

It included lawyers from civil rights and consumer groups plaintiffs ' lawyers and defense attorneys corporate counsel and law professors


( S ( S-TPC-1 ( NP-SBJ ( NNP McCaw ) ( NNP Cellular ) ( NNPS Communications ) ( NNP Inc. ) ) ( VP ( MD must ) ( VP ( VB extend ) ( NP ( NP ( PRP$ its ) ( NN offer ) ) ( PP ( IN for ) ( NP ( NNP LIN ) ( NNP Broadcasting ) ( NNP Corp. ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( RB not ) ( ADVP ( RB yet ) ) ( VP ( VBN announced ) ( NP ( NP ( JJ committed ) ( NN financing ) ) ( ADJP ( JJ sufficient ) ( S ( VP ( TO to ) ( VP ( VB complete ) ( NP ( DT the ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP LIN ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) )

McCaw Cellular Communications Inc. must extend its offer for LIN Broadcasting Corp. because it has not yet announced committed financing sufficient to complete the bid LIN said in New York


( S ( S-TPC-2 ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ( NNS rules ) ) ) ) ( NP-SBJ-1 ( NNP McCaw ) ) ( VP ( VBZ is ) ( VP ( VBN required ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( NP ( PRP$ its ) ( NN offer ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN cellular-phone ) ( CC and ) ( NN broadcasting ) ( NN concern ) ) ) ) ( ADJP-PRD ( JJ open ) ) ( PP-TMP ( IN for ) ( NP ( QP ( IN at ) ( JJS least ) ( CD five ) ) ( NN business ) ( NNS days ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( DT the ) ( NN announcement ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN financing ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP LIN ) ) ( VP ( VBD said ) ) )

According to Securities and Exchange Commission rules McCaw is required to keep its offer for the cellular-phone and broadcasting concern open for at least five business days after the announcement of the financing LIN said


( S ( NP-SBJ-1 ( NP ( NNP McCaw ) ( POS 's ) ) ( NN offer ) ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( S ( VP ( TO to ) ( VP ( VB expire ) ( NP-TMP-CLR ( NN tomorrow ) ) ) ) ) ) ) )

McCaw 's offer is scheduled to expire tomorrow


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-SBJ ( NNP McCaw ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD obtained ) ( NP ( NP ( JJ firm ) ( VBG financing ) ( NNS commitments ) ) ) ( PP-CLR ( IN from ) ( NP ( CD three ) ( JJ major ) ( NNS banks ) ) ) ( PP-1 ( IN in ) ( NP ( NP ( NN regard ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NN bid ) ( S ( VP ( TO to ) ( VP ( VB control ) ( NP ( NNP LIN ) ( NNP Broadcasting ) ) ) ) ) ) ) ) ) ) ) ) ) )

Last week McCaw said it obtained firm financing commitments from three major banks in regard to its bid to control LIN Broadcasting


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNS banks ) ) ( ADVP-MNR ( RB jointly ) ) ( VP ( VBD committed ) ( NP ( NP ( NP ( QP ( CD 1.2 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NN financing ) ) ) ) ( ADJP ( JJ subject ) ( PP ( TO to ) ( NP ( JJ certain ) ( NNS conditions ) ) ) ) ) ) ) ( NP-SBJ ( NNP McCaw ) ) ( VP ( VBD said ) ) )

The banks jointly committed 1.2 billion of financing subject to certain conditions McCaw said


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NN McCaw ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD was ) ( VP ( VBG moving ) ( ADVP-DIR ( RB forward ) ) ( PP-CLR ( IN with ) ( NP ( PRP$ our ) ( NN financing ) ) ) ) ) ) ) ) )

A spokesman for McCaw said the company was moving forward with our financing


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( ADVP ( RB hopefully ) ) ( NP-SBJ ( NNP LIN ) ) ( VP ( MD will ) ( VP ( VB conduct ) ( NP ( DT a ) ( JJ fair ) ( NN auction ) ) ) ) ) ) ) )

He added that hopefully LIN will conduct a fair auction


( S ( NP-SBJ-2 ( NNP McCaw ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VP ( VB buy ) ( NP ( NP ( QP ( CD 22 ) ( CD million ) ) ( NNS shares ) ) ( PP ( IN of ) ( NP ( NNP LIN ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( CD 125 ) ) ( NP-ADV ( DT each ) ) ) ( CC or ) ( NP ( QP ( CD 2.75 ) ( CD billion ) ) ) ) ) ) ( SBAR-ADV ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( S-NOM ( NP-SBJ ( NNP McCaw ) ( POS 's ) ) ( VP ( VBG owning ) ( NP ( NP ( CD 50.3 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP LIN ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

McCaw wants to buy 22 million shares of LIN for 125 each or 2.75 billion which would result in McCaw 's owning 50.3 % of LIN


( S ( NP-SBJ ( DT The ) ( NN offer ) ) ( VP ( VBZ is ) ( PP-PRD ( IN in ) ( NP ( NN limbo ) ) ) ( ADVP ( RB however ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( NNP LIN ) ) ( VP ( VBZ has ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB merge ) ( NP ( PRP$ its ) ( NN cellular-phone ) ( NNS businesses ) ) ( PP-CLR ( IN with ) ( NP ( NNP BellSouth ) ( NNP Corp ) ) ) ) ) ) ) ) ) ) ) )

The offer is in limbo however because LIN has agreed to merge its cellular-phone businesses with BellSouth Corp


( S ( PP-LOC ( IN In ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ ( NNP LIN ) ) ( VP ( VBD rose ) ( NP-ADV ( CD 50 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 109.25 ) ) ) ) )

In national over-the-counter trading yesterday LIN rose 50 cents to 109.25


( S ( NP-SBJ-1 ( NP ( NNP Philip ) ( NNP L. ) ( NNP Hall ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP J. ) ( NNP Lawrence ) ( NNP Hall ) ( NNP Co. ) ) ( NP-LOC ( NNP Nashua ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( DT a ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN thrift ) ( VBG holding ) ( NN company ) ) ) ) ) ( S-ADV ( VP ( VBG filling ) ( NP ( DT a ) ( NN vacancy ) ) ) ) ) ) )

Philip L. Hall president of J. Lawrence Hall Co. Nashua was named a director of this thrift holding company filling a vacancy


( S ( NP-SBJ-2 ( NP ( NNP Esselte ) ( NNP AB ) ) ( NP ( DT the ) ( NNP Stockholm ) ( NN office ) ( NNS supplies ) ( NN company ) ) ) ( SBAR-ADV ( IN as ) ( FRAG ( VP ( VBN expected ) ) ) ) ( VP ( VBD proposed ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NP ( DT the ) ( CD 22 ) ( NN % ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB own ) ) ) ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNP U.S. ) ( NN unit ) ) ( NP ( NNP Esselte ) ( NNP Business ) ( NNPS Systems ) ( NNP Inc ) ) ) ) ) ) ) ) ) )

Esselte AB the Stockholm office supplies company as expected proposed to acquire the 22 % it does n't own of its U.S. unit Esselte Business Systems Inc


( S ( NP-SBJ ( NP ( DT The ) ( NN price ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN proposal ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( CD 43.50 ) ) ( PP ( IN for ) ( NP ( NP ( DT each ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( QP ( CD 4.9 ) ( CD million ) ) ( NNS shares ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN parent ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB own ) ) ) ) ) ) ) ) ) ) ( CC or ) ( NP ( QP ( CD 213.2 ) ( CD million ) ) ) ) ) )

The price in the proposal is 43.50 for each of the 4.9 million shares the parent does n't own or 213.2 million


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Esselte ) ) ( VP ( VBN closed ) ( NP-TMP ( RB yesterday ) ) ( PP-CLR ( IN at ) ( NP ( NP ( NP ( CD 43.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( ADVP ( RB up ) ( NP ( CD 1 ) ) ) ) )

In New York Stock Exchange composite trading Esselte closed yesterday at 43.50 a share up 1


( S ( S ( NP-SBJ ( NP ( DT A ) ( NN committee ) ) ( PP ( IN of ) ( NP ( NP ( JJ outside ) ( NNS directors ) ) ( PP ( IN for ) ( NP ( DT the ) ( NAC-LOC ( NNP Garden ) ( NNP City ) ( NNP N.Y. ) ) ( NN unit ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG evaluating ) ( NP ( DT the ) ( NN proposal ) ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NN parent ) ) ( VP ( VBD asked ) ( NP-1 ( PRP it ) ) ( S ( VP ( TO to ) ( VP ( VB respond ) ( PP-TMP ( IN by ) ( NP ( NNP Oct. ) ( CD 31 ) ) ) ) ) ) ) ) )

A committee of outside directors for the Garden City N.Y. unit is evaluating the proposal the parent asked it to respond by Oct. 31


( S ( NP-SBJ ( DT The ) ( NN unit ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ( VP ( VB provide ) ( NP ( DT no ) ( NN assurance ) ( SBAR ( S ( NP-SBJ ( DT a ) ( NN transaction ) ) ( VP ( MD will ) ( VP ( VB occur ) ) ) ) ) ) ) ) ) ) ) )

The unit said it can provide no assurance a transaction will occur


( S ( NP-SBJ ( NNP Esselte ) ( NNP AB ) ) ( VP ( VBD sold ) ( NP ( DT the ) ( NN minority ) ( NN stake ) ) ( ADVP-TMP ( NP ( CD five ) ( NNS years ) ) ( RB ago ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( ADJP ( QP ( CD 40 ) ( CD million ) ) ) ( JJ international ) ( NN share ) ( NN offering ) ) ) ) )

Esselte AB sold the minority stake five years ago in a 40 million international share offering


( S ( NP-SBJ ( NP ( DT The ) ( NN unit ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( VBG holding ) ( NN company ) ) ( PP ( IN for ) ( NP ( NP ( NNP Esselte ) ( POS 's ) ) ( JJ non-Swedish ) ( NNS units ) ) ) ) ) ) ) ) ( VP ( VBN accounted ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( CD 58 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNS sales ) ) ) ) ( CC and ) ( NP ( NP ( CD 71 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NN operating ) ( NN profit ) ) ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) )

The unit which is the holding company for Esselte 's non-Swedish units accounted for 58 % of sales and 71 % of operating profit last year


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NNP Esselte ) ( NNP Business ) ( NNPS Systems ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 5.9 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 9.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 46 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 10.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 49 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-ago ) ( NN period ) ) ) ) ) ) ) )

Separately Esselte Business Systems reported third-quarter net income fell 5.9 % to 9.5 million or 46 cents a share from 10.1 million or 49 cents a share in the year-ago period


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 2.9 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 329.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 320 ) ( CD million ) ) ) ) ) )

Sales rose 2.9 % to 329.2 million from 320 million


( S ( NP-TMP ( NP ( CD One ) ( NN day ) ) ( NP ( JJ last ) ( NNP March ) ) ) ( NP-SBJ ( NP ( NNP CBS ) ( NNP Sports ) ( NNP President ) ( NNP Neal ) ( NNP Pilson ) ) ( CC and ) ( NP ( NNPS Olympics ) ( NN superagent ) ( NNP Barry ) ( NNP Frank ) ) ) ( VP ( VBD met ) ( PP-CLR ( IN for ) ( NP ( NN lunch ) ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNP Lotos ) ( NNP Club ) ) ) ( ADVP-LOC ( RB here ) ) ) )

One day last March CBS Sports President Neal Pilson and Olympics superagent Barry Frank met for lunch at the Lotos Club here


( S ( NP-SBJ ( NNP Mr. ) ( NNP Frank ) ) ( VP ( VBD told ) ( NP ( NNP Mr. ) ( NNP Pilson ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNPS Olympics ) ( NNS officials ) ) ( VP ( VBD wanted ) ( NP ( QP ( CD 290 ) ( CD million ) ( CC or ) ( JJR more ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NN TV ) ( NNS rights ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( CD 1994 ) ( NNP Winter ) ( NNPS Games ) ) ( PP-LOC ( IN in ) ( NP ( NNP Norway ) ) ) ) ) ) ) ) ) ) ) )

Mr. Frank told Mr. Pilson that Olympics officials wanted 290 million or more for TV rights to the 1994 Winter Games in Norway


( S ( NP-SBJ ( DT The ) ( NNP CBS ) ( NN official ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT that ) ( NN price ) ) ( VP ( VBD sounded ) ( ADJP-PRD ( JJ fine ) ) ) ) ) ) )

The CBS official said that price sounded fine


( S ( PP-LOC ( IN At ) ( NP ( DT that ) ( NN price ) ) ) ( NP-SBJ ( NNP CBS ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN player ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN table ) ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NP ( NNS negotiations ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP International ) ( NNP Olympic ) ( NNP Committee ) ) ) ) ( VP ( VBD started ) ( PP-LOC ( IN in ) ( NP ( NNP Toronto ) ) ) ( NP-TMP ( NNP Aug. ) ( CD 23 ) ) ) ) ) ) )

At that price CBS was the only player at the table when negotiations with the International Olympic Committee started in Toronto Aug. 23


( S ( NP-SBJ-1 ( NP ( NNP Dick ) ( NNP Pound ) ) ( NP ( DT a ) ( NN committee ) ( NN member ) ) ) ( VP ( VBD began ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG disclosing ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNP ABC ) ( CC and ) ( NNP NBC ) ) ( VP ( VBD had ) ( VP ( VBN refused ) ( S ( VP ( TO to ) ( ADVP ( RB even ) ) ( VP ( VB bid ) ) ) ) ) ) ) ) ) ) ) ) )

Dick Pound a committee member began by disclosing that ABC and NBC had refused to even bid


( S ( S ( ADVP ( RB Then ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD asked ) ( NP-2 ( NNP Mr. ) ( NNP Pilson ) ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( PRP$ his ) ( NN offer ) ) ( ADVP ( RB anyway ) ) ) ) ) ) ) ( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( NN number ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ starts ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( CD three ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP you ) ) ( VP ( MD can ) ( VP ( VB have ) ( NP ( DT a ) ( NN dea ) ) ) ) ) )

Then he asked Mr. Pilson to raise his offer anyway If we can have a number that starts with a three you can have a dea


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Pilson ) ) ( CC and ) ( NP ( PRP$ his ) ( NN team ) ) ) ( VP ( VP ( VBD huddled ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN hallway ) ) ) ) ( CC and ) ( VP ( VBD took ) ( NP ( RB just ) ( CD 10 ) ( NNS minutes ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB return ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( ADJP ( QP ( CD 300 ) ( CD million ) ) ) ( NN offer ) ) ) ) ) ) ) ) )

Mr. Pilson and his team huddled in a hallway and took just 10 minutes to return with a 300 million offer


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pound ) ) ( VP ( VBD responded ) ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( NN deal ) ) ) ) ) )

Mr. Pound responded It 's a deal


( S ( NP-SBJ ( DT A ) ( VBG beaming ) ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBD announced ) ( NP ( PRP$ his ) ( JJS lastest ) ( NN coup ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( NN news ) ( NN conference ) ) ) ( NP-TMP ( DT that ) ( NN afternoon ) ) ) )

A beaming Mr. Pilson announced his lastest coup at a news conference that afternoon


( S ( NP-SBJ ( NP ( NP ( NNP Mr. ) ( NNP Pilson ) ( POS 's ) ) ( NNS rivals ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP ABC ) ) ( CC and ) ( NP ( NNP NBC ) ) ) ) ) ( VP ( VBD grimaced ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( NN price ) ) ) ) )

Mr. Pilson 's rivals at ABC and NBC grimaced at the price


( SBARQ ( WHADVP-1 ( WRB How ) ) ( SQ ( MD could ) ( NP-SBJ-2 ( NNP CBS ) ) ( VP ( VB get ) ( VP ( VBN pushed ) ( PP-CLR ( IN into ) ( S-NOM ( VP ( VBG outbidding ) ( NP ( PRP itself ) ) ) ) ) ) ) ) )

How could CBS get pushed into outbidding itself


( S ( INTJ ( RB Well ) ) ( NP-SBJ-1 ( NNP CBS ) ) ( S-ADV ( VP ( VP ( VBN mired ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NNS ratings ) ( NN cellar ) ) ) ) ( CC and ) ( VP ( VBG looking ) ( PP-CLR ( TO to ) ( NP ( NNS sports ) ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN way ) ( RP out ) ) ) ) ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VP ( VB close ) ( NP ( DT the ) ( NN deal ) ) ( ADVP-TMP ( RB immediately ) ) ) ( CC and ) ( VP ( VB block ) ( NP-2 ( PRP$ its ) ( NNS rivals ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG getting ) ( NP ( DT another ) ( NN chance ) ( S ( VP ( TO to ) ( VP ( VB bid ) ) ) ) ) ) ) ) ) ) ) ) ) )

Well CBS mired in the ratings cellar and looking to sports as a way out wanted to close the deal immediately and block its rivals from getting another chance to bid


( S ( CC But ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN put ) ( PP-PUT ( IN in ) ( NP ( NP ( DT the ) ( JJ uncomfortable ) ( NN role ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG setting ) ( PRT ( RP off ) ) ( NP ( NP ( NP ( DT a ) ( NN bidding ) ( NN frenzy ) ) ( PP ( IN for ) ( NP ( NNS sports ) ( NNS rights ) ) ) ) ( NP ( NP ( DT a ) ( NN frenzy ) ) ( SBAR ( WHNP-3 ( IN that ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNS networks ) ) ( VP ( VBD had ) ( VP ( VBN hoped ) ( S ( VP ( TO to ) ( VP ( VB avoid ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But Mr. Pilson has been put in the uncomfortable role of setting off a bidding frenzy for sports rights a frenzy that the networks had hoped to avoid


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NN price ) ) ( PP ( IN of ) ( NP ( NN poker ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN gone ) ( ADVP-DIR ( RB up ) ) ) ) ) ( VP ( VBZ crows ) ) ( NP-SBJ ( NP ( NNP Charles ) ( NNP M. ) ( NNP Neinas ) ) ( NP ( NP ( DT the ) ( NNP College ) ( NNP Football ) ( NNP Association ) ( POS 's ) ) ( NN executive ) ( NN director ) ) ) )

The price of poker has gone up crows Charles M. Neinas the College Football Association 's executive director


( S ( PP ( IN With ) ( S-NOM ( NP-SBJ ( NNP CBS ) ( NNP Inc. ) ) ( PP-PRD ( IN on ) ( NP ( NP ( DT a ) ( NN spending ) ( NN spree ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD may ) ( VP ( VB top ) ( NP ( NP ( QP ( CD 2.5 ) ( CD billion ) ) ) ( PP ( IN for ) ( NP ( NP ( CD four ) ( NNS years ) ) ( PP ( IN of ) ( NP ( JJ major ) ( NNS sports ) ( NNS events ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ new ) ( NN bout ) ) ( PP ( IN of ) ( NP ( NN hyperinflation ) ) ) ) ( VP ( MD could ) ( VP ( VB jolt ) ( NP ( DT the ) ( JJ entire ) ( NN broadcast ) ( NN business ) ) ) ) )

With CBS Inc. on a spending spree that may top 2.5 billion for four years of major sports events the new bout of hyperinflation could jolt the entire broadcast business


( S ( NP-SBJ ( NP ( NNP CBS ) ) ( NP ( PRP itself ) ) ) ( VP ( MD could ) ( VP ( VB run ) ( PRT ( RP up ) ) ( NP ( NP ( NNS losses ) ) ( PP ( IN of ) ( NP ( QP ( DT a ) ( JJ few ) ( CD hundred ) ( CD million ) ) ( NNS dollars ) ) ) ( PP ( IN on ) ( NP ( NP ( CD four ) ( NNS years ) ) ( PP ( IN of ) ( NP ( JJ various ) ( NNS sports ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP$ its ) ( JJ big ) ( NN gamble ) ) ( VP ( VBZ goes ) ( ADJP-PRD ( JJ wrong ) ) ) ) ) ) ) )

CBS itself could run up losses of a few hundred million dollars on four years of various sports if its big gamble goes wrong


( S ( NP-SBJ ( NP ( NP ( NNP ABC ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Capital ) ( NNP Cities\/ABC ) ( NNP Inc. ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ( POS 's ) ) ( NNP National ) ( NNP Broadcasting ) ( NNP Co. ) ) ) ( ADVP ( RB also ) ) ( VP ( VBP risk ) ( NP ( NNS losses ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP outbid ) ( NP ( NNP CBS ) ) ( PP-CLR ( IN for ) ( NP ( JJ other ) ( NNS contracts ) ) ) ) ) ) ) )

ABC a unit of Capital Cities\/ABC Inc. and General Electric Co. 's National Broadcasting Co. also risk losses if they outbid CBS for other contracts


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NNS rights ) ( NNS fees ) ) ( VP ( VBP head ) ( ADVP-DIR ( RB skyward ) ) ) ) ) ( NP-SBJ ( NN ad ) ( NNS rates ) ) ( VP ( MD wo ) ( RB n't ) ) )

While rights fees head skyward ad rates wo n't


( S ( NP-SBJ ( NNS Advertisers ) ) ( ADVP ( RB already ) ) ( VP ( VBP are ) ( VP ( VBG balking ) ( PP-CLR ( IN at ) ( NP ( JJR higher ) ( NNS prices ) ) ) ) ) )

Advertisers already are balking at higher prices


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNS networks ) ) ( VP ( VBP are ) ( VP ( VBG paying ) ( NP ( RB too ) ( RB much ) ) ( PP-CLR ( IN for ) ( NP ( NNS rights ) ) ) ) ) ) ( VP ( VBZ warns ) ) ( NP-SBJ ( NP ( NN adman ) ( NNP Paul ) ( NNP Isacsson ) ) ( PP ( IN of ) ( NP ( NNP Young ) ( CC & ) ( NNP Rubicam ) ) ) ) )

The networks are paying too much for rights warns adman Paul Isacsson of Young & Rubicam


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP ask ) ( NP-2 ( NNS advertisers ) ) ( S ( VP ( TO to ) ( VP ( VB absorb ) ( NP ( DT the ) ( NNS costs ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP they ) ) ( VP ( VBP 're ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB lose ) ( NP ( NP ( DT all ) ) ( PP ( CC but ) ( NP ( NP ( DT a ) ( JJ few ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP need ) ( NP ( NNS sports ) ) ( ADVP ( IN above ) ( DT all ) ) ) ) ) ) ) ) ) ) ) ) ) )

If they ask advertisers to absorb the costs they 're likely to lose all but a few who need sports above all


( S ( NP-SBJ ( NNS Viewers ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB be ) ( VP ( VBG cheering ) ( ADVP ( RB either ) ) ) ) ) )

Viewers may not be cheering either


( S ( NP-SBJ ( VBG Soaring ) ( NNS rights ) ( NNS fees ) ) ( VP ( MD will ) ( VP ( VB lead ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( ADJP ( RB even ) ( JJR greater ) ) ( NN clutter ) ) ( PP ( IN of ) ( NP ( NNS commercials ) ) ) ) ) ) ) )

Soaring rights fees will lead to an even greater clutter of commercials


( S ( PP-TMP ( IN At ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ( NP-SBJ ( DT some ) ( NNS sports ) ( NNS events ) ) ( VP ( MD will ) ( VP ( VB move ) ( PP-DIR ( PP ( IN off ) ( NP ( JJ free ) ( NN television ) ) ) ( CC and ) ( PP ( IN onto ) ( NP ( NP ( NN cable ) ( CC or ) ( NN pay-cable ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PDT half ) ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( NN TV ) ( NNS homes ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB see ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) )

At the same time some sports events will move off free television and onto cable or pay-cable where half the nation 's TV homes ca n't see them


( S ( NP-SBJ-1 ( NNP CBS ) ) ( VP ( VBZ has ) ( VP ( VBN changed ) ( NP ( DT the ) ( NNS rules ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG throwing ) ( PRT ( RP out ) ) ( NP ( NP ( NP ( DT the ) ( JJ old ) ( NN basis ) ) ( PP ( IN for ) ( NP ( NNS sports ) ( NNS bids ) ) ) ) ( PRN ( S-ADV ( NP-SBJ ( DT that ) ) ( VP ( VBZ is ) ) ) ( SQ ( MD can ) ( NP-SBJ ( NP ( DT the ) ( NN network ) ) ( ADVP ( RB alone ) ) ) ( VP ( VB make ) ( NP ( DT a ) ( NN profit ) ) ( PP-CLR ( IN on ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) )

CBS has changed the rules by throwing out the old basis for sports bids that is can the network alone make a profit on it


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ emphasizes ) ( NP ( NP ( DT the ) ( JJ ancillary ) ( NNS benefits ) ) ( PP ( IN of ) ( NP ( NP ( JJ positive ) ( NN press ) ) ( NP ( JJ contented ) ( NN affiliate ) ( NNS stations ) ) ( NP ( JJ enthusiastic ) ( NNS advertisers ) ) ( CC and ) ( NP ( NP ( JJ huge ) ( NNS audiences ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD might ) ( VP ( VB stick ) ( PRT ( RP around ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB watch ) ( NP ( JJ other ) ( NNP CBS ) ( NNS programs ) ) ) ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN game ) ) ( VP ( VBZ is ) ( ADVP-PRD ( RP over ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Pilson emphasizes the ancillary benefits of positive press contented affiliate stations enthusiastic advertisers and huge audiences that might stick around to watch other CBS programs when the game is over


( S ( NP-SBJ ( DT The ) ( JJ billion-dollar ) ( NN question ) ) ( VP ( VBZ is ) ( SBAR-PRD ( SBARQ ( WHNP-1 ( WRB How ) ( JJ much ) ) ( SQ ( VBP are ) ( NP-SBJ ( DT those ) ( NNS benefits ) ) ( PP-PRD ( JJ worth ) ) ) ) ) ) )

The billion-dollar question is How much are those benefits worth


( S ( NP-SBJ ( DT Some ) ( NN TV ) ( NNS people ) ) ( VP ( VP ( VBP doubt ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD will ) ( VP ( VB materialize ) ) ) ) ) ) ( CC and ) ( VP ( VBP argue ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP do ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB offset ) ( NP ( NP ( DT the ) ( JJ multimillion-dollar ) ( NNS deficits ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD could ) ( VP ( VB run ) ( PRT ( RP up ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some TV people doubt they will materialize and argue that even if they do they wo n't offset the multimillion-dollar deficits that CBS could run up


( S-1 ( SBAR-ADV ( IN As ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 've ) ( VP ( VBN seen ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNS '80s ) ) ) ) ) ) ) ( PRN ( SINV ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Roger ) ( NNP Werner ) ) ( NP ( NP ( DT the ) ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP ESPN ) ( NNS sports ) ( NN channel ) ) ) ) ) ) ) ( NP-SBJ ( DT those ) ( NNS deals ) ) ( VP ( MD can ) ( VP ( VB turn ) ( ADJP-PRD ( JJ sour ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNS numbers ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB work ) ) ) ) ) ) ) )

As we 've seen in the '80s says Roger Werner the president of the ESPN sports channel those deals can turn sour if the numbers do n't work


( S ( CC And ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( RB later ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN sea ) ) ( PP ( IN of ) ( NP ( JJ red ) ( NN ink ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS heroes ) ) ( VP ( MD can ) ( VP ( VB find ) ( NP ( PRP themselves ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( VBG explaining ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB do ) ) ) ) ) ) ) ) ) )

And three years later in a sea of red ink the heroes can find themselves with a lot of explaining to do


( SINV ( S-TPC-4 ( NP-SBJ-3 ( NNP CBS ) ) ( VP ( VBZ pursues ) ( NP ( JJ top ) ( NNS sports ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB belie ) ( NP ( DT the ) ( NN fact ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG supporting ) ( NP ( NP ( NNS affiliates ) ) ( NP ( NNS viewers ) ) ( CC and ) ( NP ( NNS advertisers ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ charges ) ) ( NP-SBJ ( NP ( NNP Thomas ) ( NNP H. ) ( NNP Wyman ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD was ) ( VP ( VBN ousted ) ( PP-CLR ( IN as ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP CBS ) ( NNP Inc. ) ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Laurence ) ( NN A. ) ( NNP Tisch ) ) ( VP ( VP ( VBD bought ) ( NP ( NP ( DT a ) ( ADJP ( CD 24.9 ) ( NN % ) ) ( NN stake ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( CC and ) ( VP ( VBD took ) ( PRT ( RP over ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( RB ago ) ) ) ) ) ) ) ) ) ) ) )

CBS pursues top sports to belie the fact that they are n't supporting affiliates viewers and advertisers charges Thomas H. Wyman who was ousted as chairman of CBS Inc. after Laurence A. Tisch bought a 24.9 % stake in the company and took over three years ago


( S ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD lost ) ( NP ( DT the ) ( NN entertainment ) ( NN crown ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD needed ) ( NP ( NN one ) ) ) ) )

They lost the entertainment crown and they needed one


( S ( CC And ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP 've ) ( VP ( VBD bought ) ( NP ( NN one ) ) ) ) )

And they 've bought one


( S ( PP ( IN On ) ( NP ( NP ( RB just ) ( CD three ) ( JJ big ) ( NNS deals ) ) ( PP ( PP ( IN for ) ( NP ( NP ( CD four ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NN baseball ) ) ) ) ) ( CC and ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNP Olympic ) ( NNP Winter ) ( NNPS Games ) ) ( PP-TMP ( IN in ) ( NP ( DT both ) ( CD 1992 ) ( CC and ) ( CD 1994 ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Pilson ) ) ( VP ( VBD bid ) ( NP ( NP ( DT a ) ( NN total ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.64 ) ( CD billion ) ) ) ) ) ) )

On just three big deals for four years of baseball and for the Olympic Winter Games in both 1992 and 1994 Pilson bid a total of 1.64 billion


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( ADJP ( NP-ADV ( QP ( RB well ) ( IN over ) ( PDT half ) ( DT a ) ( CD billion ) ) ( NNS dollars ) ) ( JJR more ) ) ( SBAR ( IN than ) ( S ( NP-SBJ-1 ( NP ( NNP ABC ) ) ( CC and ) ( NP ( NNP NBC ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB pay ) ) ) ) ) ) ) ) ) ) )

That 's well over half a billion dollars more than ABC and NBC were willing to pay


( S ( PP-TMP ( IN After ) ( NP ( CD 1992 ) ) ) ( NP-SBJ-1 ( DT the ) ( NN winter ) ( CC and ) ( NN summer ) ( NNPS Olympics ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN held ) ( ADVP-TMP ( NP ( CD two ) ( NNS years ) ) ( RB apart ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( DT the ) ( JJ revised ) ( NN schedule ) ) ( VP ( VBG beginning ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( DT the ) ( NN winter ) ( NNS games ) ) ( PP-TMP ( IN in ) ( NP ( CD 1994 ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN summer ) ( NNS games ) ) ( PP-TMP ( IN in ) ( NP ( CD 1996 ) ) ) ) ) ) ) ) ) ) ) ) )

After 1992 the winter and summer Olympics will be held two years apart with the revised schedule beginning with the winter games in 1994 and the summer games in 1996


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Pilson ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NN college ) ( NN basketball ) ( NN player ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT a ) ( JJ good ) ( NN negotiator ) ) ( VP ( VBZ needs ) ( NP ( NP ( NP ( DT a ) ( NN level ) ) ( PP ( IN of ) ( NP ( NP ( NN focus ) ) ( CC and ) ( NP ( JJ intellectual ) ( NN attention ) ) ) ) ) ( ADJP ( JJ similar ) ( PP ( TO to ) ( NP ( DT a ) ( JJ good ) ( NN athlete-s ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG facing ) ( NP ( NP ( DT the ) ( NNS consequences ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( JJ own ) ( NN aggressiveness ) ) ) ) ) ) )

Now Mr. Pilson a former college basketball player who says a good negotiator needs a level of focus and intellectual attention similar to a good athlete-s is facing the consequences of his own aggressiveness


( S ( NP-TMP ( JJ Next ) ( NN month ) ) ( NP-SBJ ( NP ( NNS talks ) ) ) ( VP ( MD will ) ( VP ( VB begin ) ( PP-1 ( IN on ) ( NP ( NP ( CD two ) ( JJ coveted ) ( NNP CBS ) ( NNS contracts ) ) ( PP ( IN for ) ( NP ( DT the ) ( UCP ( JJ pro ) ( CC and ) ( NN college ) ) ( NN basketball ) ( NNS finals ) ) ) ) ) ) ) )

Next month talks will begin on two coveted CBS contracts for the pro and college basketball finals


( S ( NP-SBJ-2 ( NNP CBS ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB spend ) ( SBAR-NOM ( WHNP-1 ( WDT whatever ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ takes ) ( S-CLR ( VP ( TO to ) ( VP ( VB keep ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) ) )

CBS is likely to spend whatever it takes to keep them


( NP ( NP ( DT The ) ( JJ potential ) ( NN bill ) ) ( NP ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 600 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( JJ several ) ( NNS seasons ) ) ) ) ( NP ( DT an ) ( ADJP ( CD 80 ) ( NN % ) ) ( NN jump ) ) ) )

The potential bill more than 600 million for several seasons an 80 % jump


( S ( S ( ADVP-TMP ( NP ( DT A ) ( JJ few ) ( NNS months ) ) ( RB later ) ) ( NP-SBJ ( NP ( NNP CBS ) ( POS 's ) ) ( NN college ) ( CC and ) ( JJ pro ) ( NN football ) ( NNS contracts ) ) ( VP ( VBP come ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( NN renewal ) ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( VP ( VB go ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( NP-ADV ( QP ( RB close ) ( TO to ) ( CD 100 ) ( CD million ) ) ) ( JJR more ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( NNP CBS ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ pays ) ) ) ) ) ( NP ( DT a ) ( ADJP ( QP ( CD 40 ) ( NN % ) ( TO to ) ( CD 50 ) ( NN % ) ) ) ( NN rise ) ) ) ) ) ) ) )

A few months later CBS 's college and pro football contracts come up for renewal they could go for close to 100 million more than CBS now pays a 40 % to 50 % rise


( SINV ( S-TPC-2 ( SBAR-NOM-SBJ ( WHNP-1 ( WP What ) ) ( S ( VP ( VBZ happens ) ( PP-CLR ( TO to ) ( NP ( DT those ) ( CD two ) ( NN basketball ) ( NNS contracts ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB shape ) ( NP ( NP ( DT the ) ( JJ next ) ( CD five ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NN network ) ( NNS sports ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Peter ) ( NNP Lund ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NNP CBS ) ( NNPS Sports ) ( NN president ) ) ( RRC ( ADVP-TMP ( RB now ) ) ( PP-LOC ( IN at ) ( NP ( NNP Multimedia ) ( NNP Inc ) ) ) ) ) ) )

What happens to those two basketball contracts will shape the next five years of network sports says Peter Lund a former CBS Sports president now at Multimedia Inc


( S ( NP-SBJ ( NP ( NNP J. ) ( NNP William ) ( NNP Grimes ) ) ( NP ( NP ( JJ former ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP ESPN ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NNP NBC ) ) ( VP ( MD may ) ( VP ( VB come ) ( PRT ( RP in ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( JJ huge ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NN college ) ( NN basketball ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VP ( VB take ) ( NP ( PRP it ) ) ( PRT ( RP away ) ) ( PP-CLR ( IN from ) ( NP ( NNP CBS ) ) ) ) ( CC and ) ( VP ( VB say ) ( S ( NP-SBJ ( PRP We ) ) ( VP ( MD can ) ( VP ( VB overbid ) ( ADVP ( RB too ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

J. William Grimes former president of ESPN says NBC may come in with a huge bid for college basketball to take it away from CBS and say We can overbid too


( S ( CC And ) ( NP-SBJ ( DT the ) ( NNS winners ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NNS colleges ) ) ( RB not ) ( NP ( DT either ) ( NN network ) ) ) ) ) )

And the winners will be the colleges not either network


( FRAG ( CC Nor ) ( PP ( IN by ) ( NP ( DT the ) ( NN way ) ) ) ( NP-PRD ( NNS advertisers ) ) )

Nor by the way advertisers


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ is ) ( NP-PRD ( DT an ) ( JJ unlikely ) ( JJ big ) ( NN spender ) ) ) )

Mr. Pilson is an unlikely big spender


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( NNS mid-1980s ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP ABC ) ) ( VP ( VBD had ) ( ADVP ( RB just ) ) ( VP ( VBN bid ) ( NP ( DT a ) ( NN record ) ( QP ( CD 309 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( CD 1988 ) ( NNPS Winter ) ( NNPS Games ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD sniped ) ( PP-CLR ( IN at ) ( NP-1 ( NNS rivals ) ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG paying ) ( NP ( JJ reckless ) ( NNS prices ) ) ) ) ) ) )

In the mid-1980s after ABC had just bid a record 309 million for the 1988 Winter Games he sniped at rivals for paying reckless prices


( SINV ( S-TPC-2 ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP love ) ( NP ( NNP Pilson ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN guy ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD complained ) ( ADVP-MNR ( RBS most ) ( RB bitterly ) ( CC and ) ( RB loudly ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Wussler ) ) ( NP ( DT a ) ( JJ former ) ( NNP CBS ) ( NNPS Sports ) ( NN president ) ) ) )

I love Pilson but he was the guy who complained most bitterly and loudly says Robert Wussler a former CBS Sports president


( S ( CC And ) ( ADVP ( RB yet ) ) ( NP-SBJ ( PRP$ his ) ( NN company ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ( NN reason ) ) ( SBAR ( WHADVP ( WRB why ) ) ( S ( NP-SBJ ( NNS rights ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB so ) ( JJ high ) ) ( NP-TMP ( NN today ) ) ) ) ) ) ) )

And yet his company is one reason why rights are so high today


( S ( S ( NP-SBJ ( NNS Rivals ) ) ( VP ( VBP carp ) ( PP-CLR ( IN at ) ( NP ( NP ( DT the ) ( NN principle ) ) ( PP ( IN of ) ( NP ( NNP Pilson ) ) ) ) ) ) ) ( PRN ( SBAR ( IN as ) ( S ( NP-SBJ ( NP ( NNP NBC ) ( POS 's ) ) ( NNP Arthur ) ( NNP Watson ) ) ( ADVP-TMP ( RB once ) ) ( VP ( VBD put ) ( NP ( PRP it ) ) ) ) ) ) ( S ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( ADVP-TMP ( RB always ) ) ( VP ( VBG expounding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS rights ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB too ) ( JJ high ) ) ) ) ) ) ) ) ( RB then ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( VP ( VBG going ) ( ADJP-PRD ( JJ crazy ) ) ) ) ) ) )

Rivals carp at the principle of Pilson as NBC 's Arthur Watson once put it he 's always expounding that rights are too high then he 's going crazy


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ 49-year-old ) ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ is ) ( ADVP ( RB hardly ) ) ( NP-PRD ( NP ( DT a ) ( NN man ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB ignore ) ( NP ( DT the ) ( NNS numbers ) ) ) ) ) ) ) ) )

But the 49-year-old Mr. Pilson is hardly a man to ignore the numbers


( S ( S-ADV ( NP-PRD ( DT A ) ( NNP Yale ) ( NN law ) ( NN school ) ( NN graduate ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VP ( VBD began ) ( NP ( PRP$ his ) ( NN career ) ) ( PP-LOC ( IN in ) ( NP ( JJ corporate ) ( NN law ) ) ) ) ( CC and ) ( RB then ) ( VP ( VBD put ) ( PRT ( RP in ) ) ( NP ( NNS years ) ) ( PP-CLR ( IN at ) ( NP ( NP ( NNP Metromedia ) ( NNP Inc. ) ) ( CC and ) ( NP ( DT the ) ( NNP William ) ( NNP Morris ) ( NN talent ) ( NN agency ) ) ) ) ) ) )

A Yale law school graduate he began his career in corporate law and then put in years at Metromedia Inc. and the William Morris talent agency


( S ( S ( PP-TMP-2 ( IN In ) ( NP ( CD 1976 ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP-3 ( VBD joined ) ( NP ( NNP CBS ) ( NNPS Sports ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB head ) ( NP ( NN business ) ( NNS affairs ) ) ) ) ) ) ) ( CC and ) ( S ( ADVP-TMP=2 ( NP ( CD five ) ( NNS years ) ) ( RB later ) ) ( VP=3 ( VBD became ) ( NP-PRD ( PRP$ its ) ( NN president ) ) ) ) )

In 1976 he joined CBS Sports to head business affairs and five years later became its president