( S ( NP-SBJ ( NP ( NP ( NNP George ) ( NNP Bush ) ( POS 's ) ) ( JJ continued ) ( NN support ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN tax ) ( NN dam ) ) ) ) ( VP ( VBZ sustains ) ( NP ( NP ( DT this ) ( NN strategy ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG pressuring ) ( S ( NP-SBJ-2 ( NNP Congress ) ) ( VP ( TO to ) ( VP ( VB make ) ( NP ( NNS choices ) ) ( PP-LOC ( IN among ) ( NP ( VBG competing ) ( NNS priorities ) ) ) ( PP ( RB rather ) ( IN than ) ( S-NOM ( VP ( ADVP ( RB just ) ) ( VBG saying ) ( INTJ ( UH yes ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PDT all ) ( DT the ) ( JJ grateful ) ( JJ special-interest ) ( NNS constituencies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP fill ) ( NP ( DT the ) ( NNP PAC ) ( NN trough ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

George Bush 's continued support of the tax dam sustains this strategy of pressuring Congress to make choices among competing priorities rather than just saying yes to all the grateful special-interest constituencies that fill the PAC trough


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( NP ( NNP Washington ) ( POS 's ) ) ( NNS elites ) ) ( ADVP-TMP ( RB ever ) ) ( VP ( VBP succeed ) ( PP-CLR ( IN in ) ( S-NOM ( VP ( VBG bursting ) ( NP ( DT the ) ( NN tax ) ( NN dam ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNPS Americans ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN engulfed ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT a ) ( JJ red ) ( NN sea ) ) ( PP ( IN of ) ( NP ( NP ( JJ new ) ( NN spending ) ( NNS programs ) ) ( PP ( JJ such ) ( IN as ) ( NP ( JJ federalized ) ( NN child ) ( NN care ) ) ) ) ) ) ) ) ) ) )

If Washington 's elites ever succeed in bursting the tax dam Americans will be engulfed in a red sea of new spending programs such as federalized child care


( S ( NP-SBJ ( NN Child ) ( NN care ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ many ) ( JJ extraneous ) ( NNS bills ) ) ( VP ( VBN pulled ) ( ADVP-CLR ( IN out ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Senate ) ( POS 's ) ) ( NN reconciliation ) ( NN bill ) ) ) ) ( NP-TMP ( JJ last ) ( NNP Friday ) ) ) ) ) ) ) )

Child care was one of the many extraneous bills pulled out of the Senate 's reconciliation bill last Friday


( S ( NP-SBJ ( NNS Others ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( DT the ) ( NNS capital-gains ) ( NN cut ) ) ( NP ( NNP Section ) ( CD 89 ) ( NN repeal ) ) ( NP ( DT the ) ( JJ disabled ) ( NNS workers ) ( NN bill ) ) ( CC and ) ( NP ( NP ( DT the ) ( JJ unprecedented ) ( NN reconsideration ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ catastrophic ) ( NN health ) ( NN act ) ) ) ) ) ) )

Others were the capital-gains cut Section 89 repeal the disabled workers bill and the unprecedented reconsideration of the catastrophic health act


( S ( S ( NP-SBJ ( PDT All ) ( DT this ) ( NN stuff ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( DT the ) ( NNP House ) ( POS 's ) ) ( JJ 1,878-page ) ( NN reconciliation ) ( NN bill ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( JJ many ) ( NNS Members ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 're ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB pull ) ( PRT ( RP out ) ) ( NP ( JJ cherished ) ( NNS bills ) ) ( S-PRP ( ADVP ( RB just ) ) ( VP ( TO to ) ( VP ( VB see ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( VB die ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

All this stuff still is in the House 's 1,878-page reconciliation bill and many Members say they 're reluctant to pull out cherished bills just to see them die


( S ( NP-SBJ ( NNPS Republicans ) ) ( VP ( ADVP-MNR ( RB especially ) ) ( VBP want ) ( NP ( NP ( DT a ) ( NN guarantee ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP House ) ( NN leadership ) ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD 'll ) ( VP ( VB get ) ( NP ( NP ( DT an ) ( JJ up-or-down ) ( NN vote ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNS bills ) ) ) ) ) ) ) ) ) ) )

Republicans especially want a guarantee from the House leadership that they 'll get an up-or-down vote on the bills


( S ( NP-SBJ-1 ( NNP House ) ( NNP Speaker ) ( NNP Foley ) ) ( VP ( MD ought ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( DT that ) ( NN promise ) ) ) ) ) ) )

House Speaker Foley ought to deliver that promise


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ-3 ( NN government ) ) ( VP ( VBZ is ) ( VP ( VBN supposed ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP ( IN with ) ( S-NOM ( NP-SBJ-4 ( NNS politicians ) ) ( VP ( VBG taking ) ( NP ( NN responsibility ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS votes ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP$ their ) ( NNS constituents ) ) ( VP ( MD can ) ( VP ( VB identify ) ) ) ) ) ) ) ( PP ( RB instead ) ( IN of ) ( S-NOM ( VP ( VBG concealing ) ( NP ( PRP them ) ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( JJ great ) ( NN reconciliation ) ( NN garbage ) ( NN truck ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This is the way government is supposed to work with politicians taking responsibility for votes that their constituents can identify instead of concealing them in the great reconciliation garbage truck


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( NP ( RB as ) ( JJ much ) ( NN nostalgia ) ) ( PP ( IN as ) ( NP ( NN anyone ) ) ) ( PP ( IN for ) ( NP ( NP ( DT those ) ( JJ leafy ) ( JJ breezy ) ( NNS days ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ) ) ( SBAR ( WHADVP-7 ( WRB when ) ) ( S ( NP-SBJ-2 ( JJ honorable ) ( NNS men ) ( CC and ) ( NNS women ) ) ( VP ( VP ( VBD dickered ) ( PP-CLR ( IN over ) ( NP ( NNS budgets ) ) ) ) ( CC and ) ( ADVP ( RB even ) ) ( VP ( VBD log-rolled ) ( NP-ADV ( DT a ) ( NN bit ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB see ) ( SBAR ( SBAR ( IN that ) ( S ( S ( NP-SBJ-3 ( DT the ) ( NNS bridges ) ) ( VP ( VBD got ) ( VP-6 ( VBN build ) ) ) ) ( S ( NP-SBJ=3-4 ( NNS roads ) ) ( VP=6 ( VBN paved ) ) ) ( S ( NP-SBJ=3-5 ( NNS soldiers ) ) ( VP=6 ( VBN paid ) ) ) ) ) ( CC or ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( ADJP ( RB desperately ) ( JJ poor ) ) ) ( VP ( VBD were ) ( VP ( VBN cared ) ( PP-CLR ( IN for ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We have as much nostalgia as anyone for those leafy breezy days in Washington when honorable men and women dickered over budgets and even log-rolled a bit to see that the bridges got build roads paved soldiers paid or that the desperately poor were cared for


( S ( NP-SBJ-1 ( DT Those ) ( NNS days ) ) ( VP ( VBP are ) ( ADJP-PRD ( VBN gone ) ) ) )

Those days are gone


( SINV ( CC Nor ) ( VBP do ) ( NP-SBJ ( PRP we ) ) ( VP ( VB see ) ( NP ( NP ( DT any ) ( NN reason ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ metropolitan ) ( NNP Washington ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN gotten ) ( ADJP-PRD ( JJ fat ) ( CC and ) ( JJ rich ) ( CC and ) ( JJ lazy ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN shadow ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ federal ) ( NN colossus ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB change ) ( NP-EXT ( RB much ) ) ( PP ( IN on ) ( NP ( PRP$ its ) ( JJ own ) ( NN initiative ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nor do we see any reason to believe that a metropolitan Washington that has gotten fat and rich and lazy in the shadow of the federal colossus will change much on its own initiative


( S ( VP ( VP ( VB Save ) ( NP ( DT the ) ( NN sequester ) ) ) ( CC and ) ( VP ( VB let ) ( S ( NP-SBJ ( NNP Washington ) ) ( VP ( NN scream ) ) ) ) ) )

Save the sequester and let Washington scream


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( JJ public ) ( NN sector ) ( NN borrowing ) ( NN requirement ) ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( RB widely ) ( VBN used ) ) ( NN measure ) ) ( PP ( IN of ) ( NP ( NP ( NNP Britain ) ( POS 's ) ) ( NN government ) ( NN deficit ) ( CC or ) ( NN surplus ) ) ) ) ) ( VP ( VBD showed ) ( NP ( NP ( DT a ) ( NN deficit ) ) ( PP ( IN of ) ( NP ( QP ( CD 200 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( DT a ) ( NN deficit ) ) ( PP ( IN of ) ( NP ( QP ( CD 765 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN deficit ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.08 ) ( CD billion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ( CD 1988 ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Treasury ) ) ( VP ( VBD said ) ) )

The public sector borrowing requirement the most widely used measure of Britain 's government deficit or surplus showed a deficit of 200 million in September compared with a deficit of 765 million in August and a deficit of 1.08 billion in September 1988 the Treasury said


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT the ) ( CD six ) ( NNS months ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ ( DT the ) ( JJ current ) ( JJ fiscal ) ( NN year ) ) ( VP ( VBD began ) ( NP-TMP ( NNP April ) ( CD 1 ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN surplus ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 500 ) ( CD million ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN surplus ) ) ( PP ( IN of ) ( NP ( QP ( CD 3.6 ) ( CD billion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ) ) ) ) )

In the six months since the current fiscal year began April 1 the surplus totaled 500 million compared with a surplus of 3.6 billion in the year-earlier period


( S ( NP-SBJ ( DT The ) ( NN government ) ) ( VP ( VBZ is ) ( VP ( VBG projecting ) ( NP ( DT a ) ( ADJP ( QP ( CD 14 ) ( CD billion ) ) ) ( NN surplus ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ) ) ) )

The government is projecting a 14 billion surplus for the fiscal year


( S ( NP-SBJ ( NP ( DT The ) ( VBN reported ) ( NNS figures ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ public ) ( NN sector ) ( NN borrowing ) ( NN requirement ) ) ) ) ( VP ( VBP include ) ( NP ( NP ( NNS receipts ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( JJ state-owned ) ( NNS industries ) ) ) ) ) ) ) )

The reported figures for the public sector borrowing requirement include receipts from the sale of state-owned industries


( S ( S-TPC-1 ( S-ADV ( VP ( VBG Excluding ) ( NP ( DT those ) ( NNS receipts ) ) ) ) ( NP-SBJ ( DT the ) ( NN government ) ( NN deficit ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN totaled ) ( NP ( QP ( RB about ) ( CD 2.5 ) ( CD billion ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( CD six ) ( NNS months ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 1.3 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Treasury ) ) ( VP ( VBD said ) ) )

Excluding those receipts the government deficit would have totaled about 2.5 billion in the first six months compared with 1.3 billion a year earlier the Treasury said


( S ( NP-SBJ ( NNP McCormick ) ( NNP Capital ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( NN tender ) ( NN offer ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( PRT ( RP back ) ) ( NP ( NP ( NP ( QP ( RB as ) ( JJ many ) ( IN as ) ( CD 1.1 ) ( CD million ) ) ) ( CC or ) ( NP ( CD 44 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ common ) ( NNS shares ) ) ) ) ( PP ( IN at ) ( NP ( NP ( CD 3 ) ) ( ADVP ( RB apiece ) ) ) ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD expired ) ( NP-TMP ( NNP Friday ) ( NN evening ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN oversubscribed ) ) ) ) ) ) )

McCormick Capital Inc. said its tender offer to buy back as many as 1.1 million or 44 % of its common shares at 3 apiece which expired Friday evening was oversubscribed


( S ( NP-SBJ ( NP ( DT The ) ( NN developer ) ( CC and ) ( NN manager ) ) ( PP ( IN of ) ( NP ( JJ futures-investment ) ( JJ limited ) ( NNS partnerships ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ preliminary ) ( NNS results ) ) ( VP ( VBP indicate ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( QP ( RB about ) ( CD 1,749,000 ) ) ( NNS shares ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN tendered ) ( S-ADV ( VP ( VBG giving ) ( NP ( NP ( DT a ) ( JJ preliminary ) ( NN proration ) ( NN factor ) ) ( PP ( IN of ) ( NP ( CD 0.6287 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The developer and manager of futures-investment limited partnerships said preliminary results indicate that about 1,749,000 shares had been tendered giving a preliminary proration factor of 0.6287


( S ( NP-SBJ-1 ( DT The ) ( JJ final ) ( NN proration ) ( NN factor ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN announced ) ( NP-TMP ( NNP Monday ) ) ) ) ) )

The final proration factor will be announced Monday


( S ( NP-SBJ-1 ( NNP Grumman ) ( NNP Corp. ) ) ( VP ( VBD was ) ( VP ( VBN awarded ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 53.1 ) ( CD million ) ) ) ( NNP Navy ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NP ( JJ advanced ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( CD six ) ( NNP E-2C ) ( JJ tactical ) ( NN control ) ( NN aircraft ) ) ) ) ) ) ) ) )

Grumman Corp. was awarded a 53.1 million Navy contract for advanced acquisition of six E-2C tactical control aircraft


( S ( NP-SBJ ( NNP LTV ) ( NNP Corp. ) ) ( VP ( VBD won ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 25 ) ( CD million ) ) ) ( NN Army ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NN missile ) ( NN test ) ( NN equipment ) ) ) ) ) )

LTV Corp. won a 25 million Army contract for missile test equipment


( S ( NP-SBJ ( NNP Unisys ) ( NNP Corp. ) ) ( VP ( VBD received ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 24.4 ) ( CD million ) ) ) ( NNP Air ) ( NNP Force ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NN computer ) ( NN programming ) ) ) ) ) )

Unisys Corp. received a 24.4 million Air Force contract for computer programming


( S ( NP-SBJ-1 ( NP ( NNP Ford ) ( NNP Aerospace ) ( CC & ) ( NNP Communications ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Ford ) ( NNP Motor ) ( NNP Co. ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN awarded ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 15.9 ) ( CD million ) ) ) ( NNP Air ) ( NNP Force ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NN computer ) ( NNS improvements ) ) ) ) ) ) )

Ford Aerospace & Communications Corp. a unit of Ford Motor Co. was awarded a 15.9 million Air Force contract for computer improvements


( S ( NP-SBJ-1 ( NNP Rockwell ) ( NNP International ) ( NNP Corp. ) ) ( VP ( VBD was ) ( VP ( VBN issued ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 12.5 ) ( CD million ) ) ) ( NNP Air ) ( NNP Force ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NP ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP National ) ( NNP Aerospace ) ( NNP Plane ) ) ) ) ) ) ) ) )

Rockwell International Corp. was issued a 12.5 million Air Force contract for changes in the National Aerospace Plane


( S ( NP-SBJ ( NP ( NNP GTE ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP MCI ) ( NNP Communications ) ( NNP Corp. ) ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ strong ) ( NNS earnings ) ( NNS gains ) ) ( PP ( TO to ) ( NP ( JJ record ) ( NNS levels ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) )

GTE Corp. and MCI Communications Corp. reported strong earnings gains to record levels for the third quarter


( S ( NP-SBJ ( NP ( NNP Southwestern ) ( NNP Bell ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP Cincinnati ) ( NNP Bell ) ) ) ( VP ( VBD posted ) ( NP ( JJ slight ) ( NNS declines ) ) ) )

Southwestern Bell Corp. and Cincinnati Bell posted slight declines


GTE Corp


( S ( NP-SBJ ( NNP GTE ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( JJ net ) ( NN income ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 18 ) ( NN % ) ) ( S-ADV ( VP ( VBN aided ) ( PP ( IN by ) ( NP-LGS ( NP ( JJR higher ) ( JJ long-distance ) ( NN calling ) ( NNS volumes ) ) ( CC and ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN telephone ) ( NNS lines ) ) ( PP-LOC ( IN in ) ( NP ( NN service ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

GTE said net income rose 18 % aided by higher long-distance calling volumes and an increase in telephone lines in service


( S ( S ( NP-SBJ ( NP ( JJ Pretax ) ( NN operating ) ( NN profit ) ) ( PP ( IN from ) ( NP ( NN telephone ) ( NNS operations ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8.2 ) ( NN % ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NNS profits ) ) ( PP ( IN from ) ( NP ( NP ( NNS telecommunications ) ( NNS products ) ) ( CC and ) ( NP ( JJ electrical ) ( NNS products ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ flat ) ) ) ) )

Pretax operating profit from telephone operations rose 8.2 % but profits from telecommunications products and electrical products were flat


( S ( NP-SBJ ( NNS Revenues ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8.8 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 4.35 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 4.0 ) ( CD billion ) ) ) ) ) )

Revenues rose 8.8 % to 4.35 billion from 4.0 billion


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN quarter ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( DT a ) ( ADJP ( CD 10 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ local-exchange ) ( NN usage ) ) ( PP ( IN for ) ( NP ( JJ long-distance ) ( NN calling ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( ADJP ( CD 5 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NN access ) ( NNS lines ) ) ( PP-LOC ( IN in ) ( NP ( NN service ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said the quarter included a 10 % increase in local-exchange usage for long-distance calling and a 5 % increase in the number of access lines in service


( S ( S ( NP-SBJ ( NP ( JJR Earlier ) ( NN rate ) ( NNS reductions ) ) ( PP-LOC ( IN in ) ( NP ( NNP Texas ) ( CC and ) ( NNP California ) ) ) ) ( VP ( VBD reduced ) ( NP ( NP ( DT the ) ( NN quarter ) ( POS 's ) ) ( NX ( NX ( NN revenue ) ) ( CC and ) ( NX ( NN operating ) ( NN profit ) ) ) ) ( NP-EXT ( QP ( CD 55 ) ( CD million ) ) ) ) ) ( S ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ-1 ( NP ( NN operating ) ( NN profit ) ) ( PP-LOC ( IN in ) ( NP ( NN telephone ) ( NNS operations ) ) ) ) ( VP ( VBD was ) ( VP ( VBN reduced ) ( PP-EXT ( IN by ) ( NP ( DT a ) ( JJ similar ) ( NN amount ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN provision ) ) ( PP ( IN for ) ( NP ( DT a ) ( NN reorganization ) ) ) ) ) ) ) ) ) ) )

Earlier rate reductions in Texas and California reduced the quarter 's revenue and operating profit 55 million a year earlier operating profit in telephone operations was reduced by a similar amount as a result of a provision for a reorganization


( S ( S ( NP-SBJ ( NP ( NN Revenue ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN telecommunications ) ( NNS products ) ( CC and ) ( NNS services ) ( NN unit ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 27 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 728.8 ) ( CD million ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN operating ) ( NN profit ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unchanged ) ) ( PP ( IN at ) ( NP ( CD 26.3 ) ( CD million ) ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( JJ start-up ) ( NNS expenses ) ) ) ) ) )

Revenue in the telecommunications products and services unit rose 27 % to 728.8 million but operating profit was unchanged at 26.3 million partly because of start-up expenses


( S ( NP-SBJ ( NP ( JJ Electrical ) ( NNS products ) ( POS ' ) ) ( NNS sales ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 496.7 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 504.5 ) ( CD million ) ) ) ) ( SBAR-ADV ( IN with ) ( S ( NP-SBJ ( JJR higher ) ( JJ world-wide ) ( NN lighting ) ( NN volume ) ) ( VP ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( NP ( JJR lower ) ( JJ domestic ) ( NNS prices ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN impact ) ) ( PP ( IN of ) ( NP ( NP ( JJR weaker ) ( NNS currencies ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Europe ) ) ( CC and ) ( NP ( NNP South ) ( NNP America ) ) ) ) ) ) ) ) ) ) ) ) ) )

Electrical products ' sales fell to 496.7 million from 504.5 million with higher world-wide lighting volume offset by lower domestic prices and the impact of weaker currencies in Europe and South America


( S ( NP-SBJ ( NP ( NN Operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 37.2 ) ( CD million ) ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unchanged ) ) ) )

Operating profit of 37.2 million was unchanged


( S ( PP-LOC ( IN In ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-SBJ ( NNP GTE ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 1.25 ) ) ( PP-DIR ( TO to ) ( NP ( CD 64.125 ) ) ) ) )

In composite trading on the New York Stock Exchange GTE rose 1.25 to 64.125


( NP ( NNP MCI ) ( NNP Communications ) ( NNP Corp ) )

MCI Communications Corp


( S ( NP-SBJ ( NP ( NNP MCI ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD stepped ) ( PRT ( RP up ) ) ( NP ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( JJ long-distance ) ( NN telephone ) ( NN service ) ) ( PP-DTV ( TO to ) ( NP ( JJ residential ) ( NNS customers ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 59 ) ( NN % ) ) ( NN jump ) ) ( PP-LOC ( IN in ) ( NP ( NNS earnings ) ) ) ) ) )

MCI which stepped up efforts to sell long-distance telephone service to residential customers reported a 59 % jump in earnings


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 23 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.67 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.36 ) ( CD billion ) ) ) ) ) )

Revenue rose 23 % to 1.67 billion from 1.36 billion


( S ( NP-SBJ ( NN Operating ) ( NN profit ) ) ( VP ( VBD grew ) ( NP-EXT ( CD 57 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 269 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 171 ) ( CD million ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( VBG operating ) ( NNS margins ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 16.1 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( NP ( CD 15.9 ) ( NN % ) ) ( NP-TMP ( DT the ) ( JJ previous ) ( NN quarter ) ) ) ( CC and ) ( NP ( NP ( CD 12.6 ) ( NN % ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) ) ) ) ) )

Operating profit grew 57 % to 269 million from 171 million while operating margins rose to 16.1 % from 15.9 % the previous quarter and 12.6 % a year ago


( S ( NP-SBJ ( NP ( NNP Daniel ) ( NNP Akerson ) ) ( NP ( NNP MCI ) ( JJ chief ) ( JJ financial ) ( NN officer ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ sees ) ( NP ( NP ( JJ further ) ( NNS improvements ) ) ( PP-LOC ( IN in ) ( NP ( NN operating ) ( NNS margins ) ) ) ) ) ) ) ) )

Daniel Akerson MCI chief financial officer said the company sees further improvements in operating margins


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VB take ) ( NP ( PRP it ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( ADJP ( CD 18 ) ( NN % ) ) ( NN range ) ) ) ( PP-TMP ( IN over ) ( NP ( JJ next ) ( QP ( CD 18 ) ( TO to ) ( CD 24 ) ) ( NNS months ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

We think we can take it to the 18 % range over next 18 to 24 months he said


( S ( PP-LOC ( IN In ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ( NP-SBJ ( NNP MCI ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 2.625 ) ) ( PP-DIR ( TO to ) ( NP ( CD 42.375 ) ) ) ) )

In national over-the-counter trading MCI fell 2.625 to 42.375


( S ( NP-SBJ ( NP ( NNP Charles ) ( NNP Schellke ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Smith ) ( NNP Barney ) ( NNP Harris ) ( NNP Upham ) ( CC & ) ( NNP Co. ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT some ) ( NNS investors ) ) ( ADVP ( RB apparently ) ) ( VP ( VB expected ) ( NP ( ADJP ( RB slightly ) ( JJR better ) ) ( NN revenue ) ( NN growth ) ) ) ) ) ) )

Charles Schellke an analyst with Smith Barney Harris Upham & Co. said some investors apparently expected slightly better revenue growth


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VP ( VBD said ) ( SBAR ( DT that ) ( S ( NP-SBJ ( JJ residential ) ( NN traffic ) ) ( VP ( VBD grew ) ( ADVP-MNR ( ADVP ( RBR faster ) ) ( PP ( IN than ) ( NP ( NN business ) ( NN traffic ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD attributed ) ( NP ( DT that ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ its ) ( JJ new ) ( NNP PrimeTime ) ( NN calling ) ( NN plan ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ competes ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP American ) ( NNP Telephone ) ( CC & ) ( NNP Telegraph ) ( POS 's ) ) ( NNP Reach ) ( IN Out ) ( NNP America ) ( NN plan ) ) ) ) ) ) ) ) ) ) )

The company said that residential traffic grew faster than business traffic and attributed that to its new PrimeTime calling plan that competes with American Telephone & Telegraph 's Reach Out America plan


( S ( NP-SBJ ( NNP MCI ) ) ( VP ( VBZ claims ) ( NP ( NP ( NP ( QP ( RB about ) ( CD 12 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ overall ) ( JJ long-distance ) ( NN telephone ) ( NN market ) ) ) ) ( CC but ) ( NP ( NP ( QP ( RB just ) ( IN under ) ( CD 10 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( QP ( CD 23 ) ( CD billion ) ) ) ( JJ residential ) ( NN market ) ) ) ) ) ) )

MCI claims about 12 % of the overall long-distance telephone market but just under 10 % of the 23 billion residential market


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB improve ) ( NP ( NP ( PRP$ its ) ( NN share ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ residential ) ( NN market ) ) ) ) ) ) ) ) ) ) )

It has been trying to improve its share of the residential market


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBZ wants ) ( S ( NP-SBJ ( PRP$ its ) ( NN business ) ( NN mix ) ) ( VP ( TO to ) ( VP ( ADVP-MNR ( RBR more ) ( RB closely ) ) ( VB match ) ( NP ( NP ( DT that ) ) ( PP ( IN of ) ( NP ( NNP AT&T ) ) ) ) ( NP-ADV ( NP ( DT a ) ( NN step ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ says ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB help ) ( S ( VP ( VB prevent ) ( NP ( JJ cross ) ( NN subsidization ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company wants its business mix to more closely match that of AT&T a step it says will help prevent cross subsidization


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Akerson ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP MCI ) ) ( VP ( VBD recorded ) ( NP ( NP ( DT another ) ( JJ solid ) ( ADJP ( NN cash ) ( JJ positive ) ) ( NN quarter ) ) ( NP ( NP ( PRP$ its ) ( JJ fourth ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN row ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VP ( VBZ is ) ( VP ( VBG considering ) ( NP ( DT a ) ( NN dividend ) ) ) ) ( CC or ) ( VP ( VBZ is ) ( VP ( VBG planning ) ( NP ( DT any ) ( NN acquisition ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Akerson said MCI recorded another solid cash positive quarter its fourth in a row but declined to comment on whether the company is considering a dividend or is planning any acquisition


( S-1 ( NP-SBJ ( DT The ) ( JJ current ) ( NN quarter ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( VP ( VBZ looks ) ( ADJP-PRD ( JJ fine ) ) ) )

The current quarter he said looks fine


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( SBAR ( S ( NP-SBJ-1 ( NN revenue ) ) ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB grow ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VP ( VB control ) ( NP ( NNS costs ) ) ) ( CC and ) ( RB thus ) ( VP ( VB improve ) ( NP ( NN profitability ) ) ) ) ) ) ) ) ) )

We think revenue will continue to grow and that we can control costs and thus improve profitability


( NP ( NNP Southwestern ) ( NNP Bell ) ( NNP Corp ) )

Southwestern Bell Corp


( S ( NP-SBJ ( NNP Southwestern ) ( NNP Bell ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD dropped ) ( NP-EXT ( CD 8.7 ) ( NN % ) ) ( NP-ADV ( NP ( RB mainly ) ( DT the ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( CD four ) ( JJ extraordinary ) ( NNS items ) ) ( NP ( NP ( NP ( DT a ) ( NN franchise ) ( NN tax ) ( NN refund ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP$ its ) ( NNP Southwestern ) ( NNP Bell ) ( NNP Telephone ) ( NNP Co. ) ( NN unit ) ) ( VP ( VBD received ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN production ) ( NN shift ) ) ( PP ( IN of ) ( NP ( JJ several ) ( NNP Yellow ) ( NNPS Pages ) ( NNS directories ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ third ) ) ) ) ( NP ( NP ( DT a ) ( NN rate ) ( NN refund ) ) ( PP-LOC ( IN in ) ( NP ( NNP Missouri ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ one-time ) ( NN adjustment ) ) ( PP ( TO to ) ( NP ( NN phone ) ( NN company ) ( NNS revenues ) ) ) ) ) ) ) ) ) ) ) ) )

Southwestern Bell Corp. said net dropped 8.7 % mainly the result of four extraordinary items a franchise tax refund that its Southwestern Bell Telephone Co. unit received last year a production shift of several Yellow Pages directories to the fourth quarter from the third a rate refund in Missouri and a one-time adjustment to phone company revenues


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD slipped ) ( NP-EXT ( CD 1.2 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 2.21 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 2.23 ) ( CD billion ) ) ) ) ) )

Revenue slipped 1.2 % to 2.21 billion from 2.23 billion


( S ( NP-SBJ-1 ( DT The ) ( NNS earnings ) ( NN drop ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN expected ) ) ) ) )

The earnings drop had been expected


( S ( NP-SBJ ( NNP Chairman ) ( NNP Zane ) ( NNP E. ) ( NNP Barnes ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NNP Southwestern ) ( NNP Bell ) ( POS 's ) ) ( NNS businesses ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( JJ healthy ) ) ) ( CC and ) ( VP ( VBP are ) ( VP ( VBG continuing ) ( S ( VP ( TO to ) ( VP ( VB grow ) ) ) ) ) ) ) ) ) ) )

Chairman Zane E. Barnes said Southwestern Bell 's businesses are healthy and are continuing to grow


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 3.1 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NN access ) ( NNS lines ) ) ) ( PP-LOC ( IN in ) ( NP ( NN service ) ) ) ) ) ) ) ( CC and ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NNP Southwestern ) ( NNP Bell ) ( NNP Mobile ) ( NNP Systems ) ( NN unit ) ) ( VP ( VBD added ) ( NP ( CD 30,000 ) ( JJ new ) ( NNS customers ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ current ) ( NN total ) ) ( PP ( IN of ) ( NP ( RB about ) ( CD 333,000 ) ) ) ) ) ) ) ) ) ) )

The company reported a 3.1 % increase in the number of access lines in service and also said its Southwestern Bell Mobile Systems unit added 30,000 new customers with a current total of about 333,000


( S ( NP-SBJ ( NNP Southwestern ) ( NNS shares ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 50 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 55.875 ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) )

Southwestern shares fell 50 cents to 55.875 in composite trading on the New York Stock Exchange


( NP ( NNP Cincinnati ) ( NNP Bell ) ( NNP Inc ) )

Cincinnati Bell Inc


( S ( NP-SBJ ( NNP Cincinnati ) ( NNP Bell ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD declined ) ( NP-EXT ( CD 1.8 ) ( NN % ) ) ) ) ) ) )

Cincinnati Bell Inc. said net declined 1.8 %


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ year-ago ) ( NN period ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB particularly ) ( JJ strong ) ) ( PP ( IN with ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP ( IN of ) ( NP ( QP ( RB nearly ) ( CD 70 ) ) ( NN % ) ) ) ) ) ) ) ) ) )

The company noted that the year-ago period was particularly strong with an increase of nearly 70 %


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD jumped ) ( NP-EXT ( QP ( RB nearly ) ( CD 17 ) ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 223.3 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 191.4 ) ( CD million ) ) ) ) ) )

Revenue jumped nearly 17 % to 223.3 million from 191.4 million


( S ( PP-LOC ( IN In ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-SBJ ( NNP Cincinnati ) ( NNP Bell ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 25 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 29 ) ) ) ) )

In composite trading on the New York Stock Exchange Cincinnati Bell fell 25 cents to 29


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NN access ) ( NNS lines ) ) ) ) ( VP ( VBD dropped ) ( ADVP ( RB slightly ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ( NP-ADV ( NP ( DT a ) ( NN decline ) ) ( VP ( VBN attributed ) ( PP-CLR ( TO to ) ( NP ( JJ seasonal ) ( NNS fluctuations ) ) ) ) ) ) ) ) ) )

The company said that the number of access lines dropped slightly in the quarter a decline attributed to seasonal fluctuations


( S ( PP ( IN For ) ( NP ( DT the ) ( NN year ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ ( NP ( NN access ) ( NNS lines ) ) ( PP-LOC ( IN in ) ( NP ( NN service ) ) ) ) ( VP ( VBP have ) ( VP ( VBN increased ) ( NP-EXT ( CD 5.5 ) ( NN % ) ) ) ) )

For the year however access lines in service have increased 5.5 %


( S ( NP-SBJ ( NNP Chairman ) ( NNP D.H. ) ( NNP Hibbard ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VBZ has ) ( VP ( VBN set ) ( NP ( NP ( DT a ) ( JJ new ) ( CD five ) ( NN year ) ( NN goal ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG doubling ) ( NP ( NNS revenues ) ) ( PP-CLR ( TO to ) ( NP ( QP ( RB about ) ( CD 1.8 ) ( CD billion ) ) ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( ADVP-MNR ( RB steadily ) ) ( VBG increasing ) ( NP ( NN net ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Chairman D.H. Hibbard said the company has set a new five year goal of doubling revenues to about 1.8 billion while steadily increasing net


( S ( NP-SBJ-1 ( DT The ) ( NN dollar ) ) ( VP ( VBD finished ) ( ADVP-CLR ( JJR softer ) ) ( NP-TMP ( NN yesterday ) ) ( S-ADV ( VP ( VBN tilted ) ( ADVP-CLR ( RBR lower ) ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ continued ) ( NN concern ) ) ( PP ( IN about ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ) ) ) ) )

The dollar finished softer yesterday tilted lower by continued concern about the stock market


( SINV ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( VP ( VBG trading ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( ADJP ( RB very ) ( JJ wary ) ) ( NN eye ) ) ( PP-LOC ( IN on ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Trevor ) ( NNP Woodland ) ) ( NP ( NP ( JJ chief ) ( JJ corporate ) ( NN trader ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Harris ) ( NNP Trust ) ( CC & ) ( NNP Savings ) ( NNP Bank ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) )

We 're trading with a very wary eye on Wall Street said Trevor Woodland chief corporate trader at Harris Trust & Savings Bank in New York


( S ( NP-SBJ-1 ( DT No ) ( NN one ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB place ) ( NP ( DT a ) ( JJ firm ) ( NN bet ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB take ) ( NP ( DT another ) ( JJ tumultuous ) ( NN ride ) ) ) ) ) ) ) ) ) ) ) ) )

No one is willing to place a firm bet that the stock market wo n't take another tumultuous ride


( S ( S ( NP-SBJ ( NP ( NN News ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ major ) ( NN earthquake ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ( NP-TMP ( NNP Tuesday ) ) ) ) ) ( VP ( VBD triggered ) ( NP ( NP ( DT a ) ( NN round ) ) ( PP ( IN of ) ( NP ( NN dollar ) ( NNS sales ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ early ) ( JJ Asian ) ( NN trade ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( RBS most ) ( NN foreign-exchange ) ( NNS dealers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP expect ) ( S ( NP-SBJ ( NP ( DT the ) ( NN impact ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN quake ) ) ) ( PP-LOC ( IN on ) ( NP ( JJ financial ) ( NNS markets ) ) ) ) ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ short-lived ) ) ) ) ) ) ) ) ) ) )

News of the major earthquake in California Tuesday triggered a round of dollar sales in early Asian trade but most foreign-exchange dealers said they expect the impact of the quake on financial markets to be short-lived


( S ( PP ( IN Despite ) ( NP ( NP ( DT the ) ( NN dollar ) ( POS 's ) ) ( JJ lackluster ) ( NN performance ) ) ) ( NP-SBJ ( DT some ) ( NN foreign-exchange ) ( NNS traders ) ) ( VP ( VBP maintain ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN unit ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( ADVP ( RB relatively ) ( RB well ) ) ( VBN bid ) ) ) ) ) ) )

Despite the dollar 's lackluster performance some foreign-exchange traders maintain that the U.S. unit remains relatively well bid


( S ( NP-SBJ ( NP ( NNP Harris ) ( NNP Trust ) ( POS 's ) ) ( NNP Mr. ) ( NNP Woodland ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN unit ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB show ) ( NP ( NN resilience ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN face ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN barrage ) ) ( PP ( IN of ) ( NP ( NN headline ) ( NNS negatives ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS weeks ) ) ) ( PP ( VBG including ) ( NP ( NP ( NP ( NN rate ) ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( NNP Europe ) ( CC and ) ( NNP Japan ) ) ) ) ( NP ( JJ aggressive ) ( JJ central ) ( NN bank ) ( NN intervention ) ) ( NP ( NP ( DT a ) ( JJ 190-point ) ( NN plunge ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NN stock ) ( NNS prices ) ) ) ) ( NP ( DT an ) ( ADJP ( RB unexpectedly ) ( JJ poor ) ) ( NNP U.S. ) ( NN trade ) ( NN report ) ) ( CC and ) ( NP ( NP ( NN action ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP Federal ) ( NNP Reserve ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB nudge ) ( NP ( NNP U.S. ) ( NNS rates ) ) ( ADVP-CLR ( RBR lower ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Harris Trust 's Mr. Woodland noted that the unit continues to show resilience in the face of a barrage of headline negatives in recent weeks including rate increases in Europe and Japan aggressive central bank intervention a 190-point plunge in New York stock prices an unexpectedly poor U.S. trade report and action by the Federal Reserve to nudge U.S. rates lower


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Woodland ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB predict ) ( NP ( DT a ) ( JJ significant ) ( NN climb ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNP U.S. ) ( NN unit ) ) ) ( PP ( IN in ) ( NP ( NP ( NN light ) ) ( PP ( IN of ) ( NP ( NP ( JJ recent ) ( NNS moves ) ) ( PP-LOC ( IN in ) ( NP ( NN interest ) ( NNS rates ) ) ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ its ) ( JJ downside ) ( NN potential ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADVP ( RB surprisingly ) ( CC and ) ( PRN ( PP ( IN for ) ( NP ( NN dollar ) ( NNS bulls ) ) ) ) ( RB impressively ) ) ( JJ limited ) ) ) ) ) ) )

While Mr. Woodland does n't predict a significant climb for the U.S. unit in light of recent moves in interest rates around the world he noted that its downside potential is surprisingly and for dollar bulls impressively limited


( S ( PP-LOC ( IN In ) ( NP ( JJ late ) ( NNP New ) ( NNP York ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ-1 ( DT the ) ( NN dollar ) ) ( VP ( VBD was ) ( VP ( VP ( VBN quoted ) ( PP-CLR-2 ( IN at ) ( NP ( CD 1.8485 ) ( NNS marks ) ) ) ( ADVP-3 ( RB down ) ( PP ( IN from ) ( NP ( CD 1.8667 ) ( NNS marks ) ) ( NP-TMP ( RB late ) ( NNP Tuesday ) ) ) ) ) ( CC and ) ( VP ( PP-CLR=2 ( IN at ) ( NP ( CD 141.45 ) ( NN yen ) ) ) ( ADVP=3 ( RB down ) ( PP ( IN from ) ( NP ( CD 142.75 ) ( NN yen ) ) ( NP-TMP ( RB late ) ( NNP Tuesday ) ) ) ) ) ) ) )

In late New York trading yesterday the dollar was quoted at 1.8485 marks down from 1.8667 marks late Tuesday and at 141.45 yen down from 142.75 yen late Tuesday


( S ( NP-SBJ-1 ( NN Sterling ) ) ( VP ( VBD was ) ( VP ( VBN quoted ) ( PP-CLR ( IN at ) ( NP ( CD 1.5920 ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( CD 1.5753 ) ) ( NP-TMP ( RB late ) ( NNP Tuesday ) ) ) ) ) ) )

Sterling was quoted at 1.5920 up from 1.5753 late Tuesday


( S ( PP-LOC ( IN In ) ( NP ( NNP Tokyo ) ) ) ( NP-TMP ( NNP Thursday ) ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN currency ) ) ( VP ( VBD opened ) ( PP-PRP ( IN for ) ( NP ( VBG trading ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 140.97 ) ( NN yen ) ) ) ( ADVP ( RB down ) ( PP ( IN from ) ( NP ( NP ( NP ( NNP Wednesday ) ( POS 's ) ) ( NNP Tokyo ) ( NN close ) ) ( PP ( IN of ) ( NP ( CD 142.10 ) ( NN yen ) ) ) ) ) ) ) )

In Tokyo Thursday the U.S. currency opened for trading at 140.97 yen down from Wednesday 's Tokyo close of 142.10 yen


( S ( PP-TMP ( IN Since ) ( NP ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NN dive ) ) ( PP-LOC ( IN in ) ( NP ( NN stock ) ( NN market ) ( NNS prices ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( VBZ has ) ( VP ( VBN injected ) ( NP ( NNS reserves ) ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN banking ) ( NN system ) ) ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VP ( VB calm ) ( NP ( DT the ) ( NNS markets ) ) ) ( CC and ) ( VP ( VB avert ) ( NP ( NP ( DT a ) ( NN repeat ) ) ( PP ( IN of ) ( NP ( NP ( CD 1987 ) ( POS 's ) ) ( NN stock ) ( NN market ) ( NN debacle ) ) ) ) ) ) ) ) ) ) ) ) )

Since Friday 's dive in stock market prices the Fed has injected reserves into the banking system in an effort to calm the markets and avert a repeat of 1987 's stock market debacle


( S ( NP-SBJ ( DT Some ) ( NNS analysts ) ) ( VP ( VBP note ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN after ) ( NP ( NP ( NP ( JJ last ) ( NN week ) ( POS 's ) ) ( NN stock ) ( NN market ) ( NN tailspin ) ) ( CC and ) ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( NNP California ) ( NN earthquake ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ hard ) ) ( S-3 ( VP ( TO to ) ( VP ( VB gauge ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( DT the ) ( JJ central ) ( NN bank ) ) ( VP ( VBZ wants ) ( S ( NP-SBJ ( DT the ) ( JJ key ) ( JJ federal ) ( NNS funds ) ( NN rate ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some analysts note that after last week 's stock market tailspin and Tuesday 's California earthquake it 's hard to gauge where the central bank wants the key federal funds rate


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN earthquake ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG preventing ) ( NP-2 ( JJ many ) ( NNS banks ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG operating ) ( PP ( IN at ) ( NP ( JJ full ) ( NN capacity ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN given ) ( NP ( DT the ) ( NNP Fed ) ) ( NP ( NP ( DT an ) ( JJ additional ) ( NN reason ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB keep ) ( NP ( NN liquidity ) ) ( PP-LOC-CLR ( IN at ) ( NP ( DT a ) ( JJ high ) ( NN level ) ) ) ) ) ) ) ) ) ) ) ) ) )

They say that the earthquake by preventing many banks from operating at full capacity has given the Fed an additional reason to keep liquidity at a high level


( S ( NP-SBJ ( DT The ) ( NNP Fed ) ) ( VP ( VBD did ) ( PP ( IN in ) ( NP ( NN fact ) ) ) ( VP ( VB execute ) ( NP ( NP ( NP ( QP ( CD 1.5 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( JJ liquidity-enhancing ) ( NN customer ) ( NN repurchase ) ( NNS agreements ) ) ) ) ( NP ( NP ( DT the ) ( JJ third ) ( NN set ) ) ( PP ( IN of ) ( NP ( NN repurchase ) ( NNS orders ) ) ) ( PP-TMP ( IN in ) ( NP ( CD three ) ( NNS days ) ) ) ) ) ) ) )

The Fed did in fact execute 1.5 billion of liquidity-enhancing customer repurchase agreements the third set of repurchase orders in three days


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( JJ additional ) ( NN liquidity ) ) ( VP ( MD should ) ( VP ( VB tend ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( DT the ) ( JJ federal ) ( NNS funds ) ( NN rate ) ) ) ) ) ) ) ) ) ) )

Analysts said the additional liquidity should tend to reduce the federal funds rate


( S ( PP-TMP ( IN For ) ( NP ( RB now ) ) ) ( NP-SBJ ( NNS traders ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ foreign ) ( NN exchange ) ( NN market ) ) ( VP ( VBZ is ) ( VP ( VBG scrutinizing ) ( NP ( DT both ) ( NP ( JJ federal ) ( NNS funds ) ) ( CC and ) ( NP ( NP ( NNS events ) ) ( PP-LOC ( IN on ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ) ) ) )

For now traders say the foreign exchange market is scrutinizing both federal funds and events on Wall Street


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP note ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( RB extremely ) ( JJ vulnerable ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( JJS slightest ) ( JJ bad ) ( NN news ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN stock ) ( NN exchange ) ) ) ) ) ) ) ) ) ) )

They note that the dollar remains extremely vulnerable to the slightest bad news from the stock exchange


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN unit ) ) ( VP ( VBD edged ) ( ADVP-DIR ( RBR lower ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( VP ( VBD dropped ) ( NP-EXT ( QP ( RB about ) ( CD 13 ) ) ( NNS points ) ) ( PP-LOC ( IN in ) ( NP ( JJ early ) ( NN trading ) ) ) ) ) ) ) )

Indeed the U.S. unit edged lower as the Dow Jones Industrial Average dropped about 13 points in early trading


( S ( NP-SBJ ( NP ( DT A ) ( JJ slight ) ( NN recovery ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ( VP ( VBD gave ) ( NP ( NN currency ) ( NNS traders ) ) ( NP ( NP ( NN confidence ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB push ) ( NP ( DT the ) ( NN dollar ) ) ( ADVP-CLR ( RBR higher ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( DT the ) ( NN unit ) ) ( VP ( VBD dropped ) ( ADVP-DIR ( RB back ) ) ( PP-TMP ( IN by ) ( NP ( NP ( NN day ) ( POS 's ) ) ( NN end ) ) ) ) ) ) ) ) ) ) ) ) )

A slight recovery in the stock market gave currency traders confidence to push the dollar higher before the unit dropped back by day 's end


( S ( NP-SBJ ( DT Some ) ( NNS dealers ) ) ( VP ( VBD noted ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NN nervousness ) ) ( PP ( IN over ) ( NP ( NP ( DT the ) ( JJ recent ) ( JJ sharp ) ( NN dive ) ) ( PP-LOC ( IN in ) ( NP ( NN stock ) ( NNS prices ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB intensify ) ( PP-TMP ( VBG following ) ( NP ( NP ( NNS suggestions ) ) ( PP ( IN by ) ( NP ( NAC ( NNP Bank ) ( PP ( IN of ) ( NP ( NNP Japan ) ) ) ) ( NNP Governor ) ( NNP Satoshi ) ( NNP Sumita ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD appeared ) ( S ( VP ( TO to ) ( VP ( VB advise ) ( NP-3 ( JJ Japanese ) ( NNS investors ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB very ) ( JJ careful ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG investing ) ( PP-CLR ( IN in ) ( NP ( NNP U.S. ) ( JJ leveraged ) ( NNS buy-outs ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some dealers noted that nervousness over the recent sharp dive in stock prices could intensify following suggestions by Bank of Japan Governor Satoshi Sumita that appeared to advise Japanese investors to be very careful in investing in U.S. leveraged buy-outs


( S ( NP-SBJ ( NNS Dealers ) ) ( VP ( VBP suggest ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ only ) ( JJ positive ) ( NN news ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN horizon ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB detract ) ( NP ( NN attention ) ) ( PP-DIR ( IN from ) ( NP ( NNS equities ) ( NNS transactions ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP September ) ( POS 's ) ) ( NNP U.S. ) ( NN consumer ) ( NN price ) ( NNS data ) ) ) ) ) ) )

Dealers suggest that the only positive news on the horizon that could detract attention from equities transactions is September 's U.S. consumer price data


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNS figures ) ) ( ADJP ( JJ due ) ( PP ( IN for ) ( NP ( NN release ) ) ) ( NP-TMP ( NNP Friday ) ) ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB show ) ( NP ( NP ( DT an ) ( NN uptick ) ) ( PP-LOC ( IN in ) ( NP ( NN inflation ) ) ) ( PP ( TO to ) ( NP ( CD 4.8 ) ( NN % ) ) ) ( PP ( IN from ) ( NP ( CD 4.7 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ) ) ) ) )

The figures due for release Friday are expected to show an uptick in inflation to 4.8 % from 4.7 % in August


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NNS figures ) ) ( VP ( VBP show ) ( NP ( NP ( DT a ) ( JJ hefty ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( NN inflation ) ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( VP ( VB militate ) ( PP-CLR ( IN against ) ( NP ( NP ( NN easing ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP Fed ) ) ) ) ) ) ) )

If the figures show a hefty rise in inflation they could militate against easing by the Fed


( S ( PP-LOC ( IN On ) ( NP ( DT the ) ( NNP Commodity ) ( NNP Exchange ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( NP-SBJ ( NP ( NN gold ) ) ( PP ( IN for ) ( NP ( JJ current ) ( NN delivery ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 1.30 ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 368.70 ) ) ( NP-ADV ( DT an ) ( NN ounce ) ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ moderate ) ( NN trading ) ) ) ) )

On the Commodity Exchange in New York gold for current delivery rose 1.30 to 368.70 an ounce in moderate trading


( S ( NP-SBJ ( JJ Estimated ) ( NN volume ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( CD three ) ( CD million ) ) ( NNS ounces ) ) ) )

Estimated volume was three million ounces


( S ( PP ( IN In ) ( NP ( JJ early ) ( NN trading ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Hong ) ( NNP Kong ) ) ) ( NP-TMP ( NNP Thursday ) ) ( NP-SBJ ( NN gold ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( IN at ) ( NP ( NP ( CD 368.15 ) ) ( NP-ADV ( DT an ) ( NN ounce ) ) ) ) ) )

In early trading in Hong Kong Thursday gold was at 368.15 an ounce


( S ( NP-SBJ ( NP ( JJ French ) ( NN crude-steel ) ( NN production ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( CD 1,616,000 ) ( JJ metric ) ( NNS tons ) ) ( ADJP ( JJ unchanged ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Steel ) ( NNP Manufacturers ) ( POS ' ) ) ( NN Association ) ) ) ) ) )

French crude-steel production in September was 1,616,000 metric tons unchanged from a year earlier according to the National Steel Manufacturers ' Association


( S ( NP-SBJ ( DT The ) ( NN association ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP September ) ( NN total ) ) ( VP ( VBN brought ) ( NP ( NP ( JJ French ) ( NN output ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 14,789,000 ) ( NNS tons ) ) ) ( ADVP ( RB up ) ( NP ( CD 4.5 ) ( NN % ) ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) ) )

The association said the September total brought French output for the first nine months this year to 14,789,000 tons up 4.5 % from a year earlier


( S ( NP-SBJ ( NNP Morgan ) ( NNP Grenfell ) ( NNP Group ) ( NNP PLC ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNP John ) ( NNP Craven ) ) ( NP ( NN group ) ( NN chief ) ( NN executive ) ( NN officer ) ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( ADVP-CLR ( RB over ) ) ( NP ( NP ( DT the ) ( NN chairmanship ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN merchant ) ( VBG banking ) ( NN group ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP Sir ) ( NNP Peter ) ( NNP Carey ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( VP ( VBG retiring ) ) ) ) ) ) ) ) ) ) ) ) )

Morgan Grenfell Group PLC said John Craven group chief executive officer is taking over the chairmanship of the merchant banking group from Sir Peter Carey who is retiring


( S ( NP-SBJ ( NNP Mr. ) ( NNP Carey ) ) ( VP ( MD will ) ( VP ( VB remain ) ( NP-PRD ( NP ( DT a ) ( NN member ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN merchant ) ( NN bank ) ( POS 's ) ) ( NN board ) ) ) ) ) ) )

Mr. Carey will remain a member of the merchant bank 's board


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Craven ) ) ( VP ( VBZ is ) ( VP ( ADVP-MNR ( RB widely ) ) ( VBN credited ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( NN refocusing ) ( NP ( NP ( NNP Morgan ) ( NNP Grenfell ) ( POS 's ) ) ( NNS energies ) ) ( PP-CLR ( IN on ) ( NP ( PRP$ its ) ( NN core ) ( JJ corporate ) ( NN finance ) ( NN fund ) ( NN management ) ( CC and ) ( VBG banking ) ( NNS activities ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( NN year ) ) ) ) ) ) ) ) )

Mr. Craven is widely credited with refocusing Morgan Grenfell 's energies on its core corporate finance fund management and banking activities over the past year


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( NNP Morgan ) ( NNP Grenfell ) ) ( VP ( VBD shut ) ( ADVP-CLR ( RB down ) ) ( NP ( PRP$ its ) ( VBG ailing ) ( NN U.K. ) ( NNS securities ) ( NNS operations ) ) ) )

Last year Morgan Grenfell shut down its ailing U.K. securities operations


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Craven ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN move ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN chairmanship ) ) ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NP ( DT a ) ( ADJP ( RBR less ) ( JJ active ) ) ( NN role ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ day-to-day ) ( NN management ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN group ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN merchant ) ( NN bank ) ( POS 's ) ) ( JJ strategic ) ( NN focus ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ unchanged ) ) ) ) ) ) ) )

Mr. Craven said his move to the chairmanship means he will take a less active role in the day-to-day management of the group but he added that the merchant bank 's strategic focus remains unchanged


( S ( NP-SBJ ( NNP Mr. ) ( NNP Craven ) ) ( VP ( VBD joined ) ( NP ( NNP Morgan ) ( NNP Grenfell ) ) ( PP ( IN as ) ( NP ( NN group ) ( NN chief ) ( NN executive ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP May ) ( CD 1987 ) ) ) ( PP-TMP ( NP ( DT a ) ( JJ few ) ( NNS months ) ) ( IN after ) ( NP ( NP ( DT the ) ( NNS resignations ) ) ( PP ( IN of ) ( NP ( NP ( JJ former ) ( NNP Chief ) ( NNP Executive ) ( NNP Christopher ) ( NNP Reeves ) ) ( CC and ) ( NP ( JJ other ) ( JJ top ) ( NNS officials ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN merchant ) ( NN bank ) ( POS 's ) ) ( NN role ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NNP Guinness ) ( NNP PLC ) ( POS 's ) ) ( JJ controversial ) ( NN takeover ) ) ( PP ( IN of ) ( NP ( NP ( NN Distiller ) ( POS 's ) ) ( NN Co. ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ) ) ) ) ) )

Mr. Craven joined Morgan Grenfell as group chief executive in May 1987 a few months after the resignations of former Chief Executive Christopher Reeves and other top officials because of the merchant bank 's role in Guinness PLC 's controversial takeover of Distiller 's Co. in 1986


( S ( NP-SBJ ( NNP Morgan ) ( NNP Grenfell ) ) ( VP ( VBD had ) ( VP ( VBN advised ) ( NP ( NNP Guinness ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN bid ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN surrounded ) ( PP ( IN by ) ( NP-LGS ( NNS allegations ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( NNP Guinness ) ) ( VP ( VBD used ) ( NP ( NN artificial ) ( NNS means ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB support ) ( NP ( NP ( DT the ) ( NN bid ) ( POS 's ) ) ( NN value ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Morgan Grenfell had advised Guinness on the bid which was surrounded by allegations that Guinness used artificial means to support the bid 's value


( S ( NP-SBJ ( NNP Morgan ) ( NNP Grenfell ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Michael ) ( NNP Dobson ) ) ( NP ( RB currently ) ( NN group ) ( NN deputy ) ( NN chief ) ( NN executive ) ) ) ( VP ( MD will ) ( VP ( VB assume ) ( NP ( DT the ) ( JJ chief ) ( NN executive ) ( NN position ) ) ) ) ) ) ) )

Morgan Grenfell said Michael Dobson currently group deputy chief executive will assume the chief executive position


( S ( NP-SBJ ( DT The ) ( NN merchant ) ( NN bank ) ) ( ADVP ( RB also ) ) ( VP ( VBD announced ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN finance ) ( NN director ) ( NNP David ) ( NNP Eward ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( NP ( JJ early ) ( NN retirement ) ) ( PP-PRP ( IN for ) ( NP ( NN personal ) ( NNS reasons ) ) ) ) ) ) ) ) )

The merchant bank also announced that finance director David Eward is taking early retirement for personal reasons


( S ( NP-SBJ-1 ( PRP$ His ) ( NNS duties ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN taken ) ( PRT ( RP over ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Anthony ) ( NNP Richmond-Watson ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN elected ) ( S ( NP-PRD ( JJ deputy ) ( NN chairman ) ) ) ) ) ) ) ) ) ) ) ) ) )

His duties will be taken over by Anthony Richmond-Watson who has been elected deputy chairman


( S ( NP-SBJ ( NP ( NNP News ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Eward ) ( POS 's ) ) ( NN retirement ) ) ) ) ( VP ( VBZ comes ) ( SBAR-TMP ( NP ( CD one ) ( NN day ) ) ( IN after ) ( S ( NP-SBJ ( NNP Morgan ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Christopher ) ( NNP Whittington ) ) ( VP ( VBD resigned ) ( PP ( IN as ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( NNP Morgan ) ( POS 's ) ) ( VBG banking ) ( NN subsidiary ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB join ) ( NP ( DT a ) ( JJ financial ) ( NNS services ) ( JJ firm ) ) ) ) ) ) ) ) ) ) ) ) )

News of Mr. Eward 's retirement comes one day after Morgan said that Christopher Whittington resigned as chairman of Morgan 's banking subsidiary to join a financial services firm


( S ( NP-SBJ ( NNP Mr. ) ( NNP Craven ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ-1 ( DT both ) ( NNP Messrs. ) ( NNP Eward ) ( CC and ) ( NNP Whittington ) ) ( VP ( VBD had ) ( VP ( VBN planned ) ( S ( VP ( TO to ) ( VP ( VB leave ) ( NP ( DT the ) ( NN bank ) ) ( ADVP-TMP ( RB earlier ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Craven ) ) ( VP ( VBD had ) ( VP ( VBN persuaded ) ( NP-2 ( PRP them ) ) ( S ( VP ( TO to ) ( VP ( VB remain ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ ( DT the ) ( NN bank ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( IN in ) ( NP ( DT a ) ( JJ healthy ) ( NN position ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Craven said both Messrs. Eward and Whittington had planned to leave the bank earlier but Mr. Craven had persuaded them to remain until the bank was in a healthy position


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT any ) ( NN coincidence ) ) ( PP ( IN about ) ( NP ( DT the ) ( NNS departures ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( POS 's ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG leaving ) ( PP-TMP ( IN at ) ( NP ( NP ( DT a ) ( NN time ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN business ) ) ( VP ( VBZ is ) ( UCP-PRD ( PP-LOC ( IN in ) ( NP ( ADJP ( RB reasonably ) ( JJ good ) ) ( NN shape ) ) ) ( CC and ) ( VP ( VBG going ) ( ADVP-DIR ( RB forward ) ) ( ADVP-MNR ( RB very ) ( RB well ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

If there 's any coincidence about the departures it 's that they are leaving at a time when the business is in reasonably good shape and going forward very well


( S ( NP-TMP ( JJ Last ) ( NN month ) ) ( NP-SBJ ( NNP Morgan ) ( NNP Grenfell ) ) ( VP ( VBD announced ) ( SBAR ( S ( NP-SBJ-1 ( PRP$ its ) ( NN pretax ) ( NN profit ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 49.6 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 32.8 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( NN half ) ) ) ( S-ADV ( VP ( VBN boosted ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ healthy ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( ADJP ( JJ domestic ) ( CC and ) ( JJ international ) ) ( JJ corporate ) ( NN finance ) ( NN business ) ) ) ) ) ) ) ) ) ) ) )

Last month Morgan Grenfell announced its pretax profit rose 49.6 % to 32.8 million in the first half boosted by a healthy growth in its domestic and international corporate finance business


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD approached ) ( NP ( NP-TTL ( NNP Mastergate ) ) ( NP ( NP ( NP ( NNP Larry ) ( NNP Gelbart ) ( POS 's ) ) ( JJ new ) ( NN comedy ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNP Criterion ) ( NNP Center ) ) ) ) ) ( PP ( IN with ) ( NP ( JJ considerable ) ( NN trepidation ) ) ) ) )

I approached Mastergate Larry Gelbart 's new comedy at the Criterion Center with considerable trepidation


( S-1 ( NP-SBJ ( NNP Nothing ) ) ( PRN ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD assumed ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( ADVP ( RBR more ) ( RB hopelessly ) ) ( JJ dated ) ) ( PP ( IN than ) ( NP ( NP ( DT a ) ( JJ political ) ( NN satire ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNP Iran-Contra ) ( NN affair ) ) ) ) ) ) ) ) )

Nothing I assumed would be more hopelessly dated than a political satire on the Iran-Contra affair


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD had ) ( VP ( VBN underestimated ) ( ADVP ( RB however ) ) ( NP ( CC both ) ( NP ( NP ( NNP Mr. ) ( NNP Gelbart ) ( POS 's ) ) ( NN wit ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN persistence ) ) ( PP ( IN of ) ( NP ( NN scandal ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ) ) ) ) ) ) )

I had underestimated however both Mr. Gelbart 's wit and the persistence of scandal in Washington


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ-1 ( DT the ) ( NN play ) ) ( ADVP ( RB clearly ) ) ( VP ( VBZ is ) ( VP ( VBN framed ) ( PP-CLR ( IN around ) ( NP ( NP ( DT the ) ( NNS events ) ) ( PP ( IN of ) ( NP ( NNP Iran-Contra ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ takes ) ( PRT ( RP in ) ) ( NP ( NP ( DT the ) ( JJ wide ) ( NN sweep ) ) ( PP ( IN of ) ( NP ( NP ( NNS scandals ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( CD 30 ) ( NNS years ) ) ) ) ) ) ) )

Though the play clearly is framed around the events of Iran-Contra it takes in the wide sweep of scandals over the past 30 years


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( PP-TMP ( IN at ) ( NP ( CD one ) ( NN point ) ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Merry ) ( NNP Chase ) ) ( PRN ( NP ( NNP Melinda ) ( NNP Mullins ) ) ) ) ( NP ( DT a ) ( JJ cool ) ( ADJP ( RB carefully ) ( JJ coiffed ) ) ( NN television ) ( NN announcer ) ) ) ( VP ( VBZ recites ) ( NP ( NP ( DT a ) ( NN list ) ) ( PP ( IN of ) ( NP ( NP ( QP ( DT a ) ( NN dozen ) ( CC or ) ( JJR more ) ) ( NNS scandals ) ) ( PP ( IN of ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ) ( S-ADV ( VP ( VBG concluding ) ( PP-CLR ( IN with ) ( NP ( NP ( DT those ) ) ( VP ( VBG affecting ) ( NP ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NNP Housing ) ( CC and ) ( NNP Urban ) ( NNP Development ) ) ) ) ( CC and ) ( NP ( DT the ) ( NNS savings ) ( CC and ) ( NN loan ) ( NN industry ) ) ) ) ) ) ) ) ) )

In fact at one point Merry Chase Melinda Mullins a cool carefully coiffed television announcer recites a list of a dozen or more scandals of recent years concluding with those affecting the Department of Housing and Urban Development and the savings and loan industry


( S ( ADVP-LOC ( RB Onstage ) ) ( NP-SBJ ( NP ( DT a ) ( JJ congressional ) ( NN hearing ) ) ) ( VP ( VBZ is ) ( PP-PRD ( IN in ) ( NP ( NN progress ) ) ) ( ADJP-1 ( JJ complete ) ( PP ( IN with ) ( NP ( NP ( NP ( JJ elegant ) ( NN crystal ) ( NN chandelier ) ) ( ADVP-LOC ( RB overhead ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ lifesize ) ( NN reproduction ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN signing ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Constitution ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN background ) ) ) ) ) ) ) ) )

Onstage a congressional hearing is in progress complete with elegant crystal chandelier overhead and a lifesize reproduction of the signing of the Constitution in the background


( S ( S ( NP-SBJ-2 ( DT The ) ( NN witness ) ( NN table ) ) ( VP ( VBZ is ) ( NP-LOC-PRD-1 ( RB center ) ( NN stage ) ) ) ) ( CC and ) ( S ( PP-LOC-PRD=1 ( IN below ) ( NP ( PRP it ) ) ) ( NP-SBJ=2 ( NP ( DT the ) ( NNS paraphernalia ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ ever-present ) ( NNS media ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN case ) ) ) ( NP ( NP ( NNP TNN ) ) ( NP ( DT the ) ( NNP Total ) ( NNP News ) ( NNP Network ) ) ) ) ) ) ) )

The witness table is center stage and below it the paraphernalia for the ever-present media in this case TNN the Total News Network


( S ( CONJP ( RB Not ) ( RB only ) ) ( SINV ( VP ( VBP are ) ) ( NP-SBJ ( RB there ) ) ( NP-PRD-2 ( NN camera ) ( NNS operators ) ) ( PP-LOC ( IN on ) ( NP ( DT all ) ( NNS sides ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( DT the ) ( NNS proceedings ) ) ( VP ( VBP are ) ( VP ( VBN shown ) ( PP-LOC ( IN on ) ( NP ( NP ( NNS monitors ) ) ( PP-LOC ( IN throughout ) ( NP ( DT the ) ( NN theater ) ) ) ) ) ) ) ) )

Not only are there camera operators on all sides but the proceedings are shown on monitors throughout the theater


( S ( NP-SBJ ( NP ( DT The ) ( NN metaphor ) ) ( PP ( IN of ) ( NP ( NN theater ) ) ) ) ( VP ( VBZ is ) ( RB not ) ( ADJP-PRD ( RB entirely ) ( JJ coincidental ) ) ) )

The metaphor of theater is not entirely coincidental


( S ( NP-SBJ ( NNP Mr. ) ( NNP Gelbart ) ) ( ADVP ( RB clearly ) ) ( VP ( VBZ feels ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NP ( PDT all ) ( DT the ) ( NNS participants ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ congressional ) ( NN hearing ) ) ) ) ( NP ( NP ( DT the ) ( NNS witnesses ) ) ( NP ( DT the ) ( NNS lawyers ) ) ( NP ( DT the ) ( NNS interrogators ) ) ( CC and ) ( NP ( DT the ) ( NN news ) ( NNS media ) ) ) ) ( VP ( VBP are ) ( NP-PRD ( NNS performers ) ) ) ) ) ) )

Mr. Gelbart clearly feels that all the participants in a congressional hearing the witnesses the lawyers the interrogators and the news media are performers


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( NP ( DT the ) ( NN story ) ) ( PP ( IN of ) ( NP-TTL ( NNP Mastergate ) ) ) ) ( VP ( VBZ unfolds ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP learn ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Internal ) ( NNP Revenue ) ( NNP Service ) ) ( VP ( VBD confiscated ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS properties ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ foreign ) ( NN financier ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ owes ) ( NP ( DT the ) ( NN government ) ) ( NP ( NP ( NNS millions ) ) ( PP ( IN in ) ( NP ( NNS taxes ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

As the story of Mastergate unfolds we learn that the Internal Revenue Service confiscated one of the properties of a foreign financier who owes the government millions in taxes


( S-1 ( NP-SBJ ( DT The ) ( NN man ) ) ( PRN ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ seems ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( NNP Lichtenstein ) ( NN corporation ) ) ( VP ( VP ( VBN licensed ) ( PP-LOC ( IN in ) ( NP ( NNP Libya ) ) ) ) ( CC and ) ( VP ( VBN sheltered ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNPS Bahamas ) ) ) ) ) ) ) )

The man it seems has a Lichtenstein corporation licensed in Libya and sheltered in the Bahamas


( S ( NP-SBJ ( NP ( PRP He ) ) ( NP ( PRP himself ) ) ) ( VP ( VBZ lives ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT a ) ( JJ consecutive ) ( NN series ) ) ( PP ( IN of ) ( NP ( JJ unnumbered ) ( NNS houses ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN town ) ) ( PP-LOC ( IN in ) ( NP ( NNP Switzerland ) ) ) ) ) ) ) ) )

He himself lives in a consecutive series of unnumbered houses in a town in Switzerland


( S ( NP-SBJ ( NP ( DT The ) ( NN property ) ) ( VP ( VBN seized ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP IRS ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NNP Hollywood ) ( NN film ) ( NN studio ) ) ( NP ( NP ( NNP Master ) ( NNP Pictures ) ( NNP Incorporated ) ) ( PRN ( NP ( NNP MPI ) ) ) ) ) ) )

The property seized by the IRS is a Hollywood film studio Master Pictures Incorporated MPI


( S ( S ( ADVP ( NNP Supposedly ) ) ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( MD will ) ( VP ( VB sell ) ( PRT ( RP off ) ) ( NP ( NP ( DT the ) ( NNS assets ) ) ( PP ( IN of ) ( NP ( NNP MPI ) ) ) ) ) ) ) ( CC but ) ( S ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ) ) ) ( NP-SBJ-1 ( DT a ) ( JJ lowly ) ( NNP IRS ) ( NN agent ) ) ( VP ( VBZ is ) ( VP ( VBN called ) ( PP-DIR ( IN into ) ( NP ( NP ( DT the ) ( NN hospital ) ( NN room ) ) ( PP ( IN of ) ( NP ( NP ( NNP Wylie ) ( NNP Slaughter ) ) ( NP ( NP ( DT the ) ( VBG dying ) ( NN head ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Central ) ( NNP Intelligence ) ( NNP Agency ) ) ) ) ) ) ) ) ) ) ) )

Supposedly the IRS will sell off the assets of MPI but before it can a lowly IRS agent is called into the hospital room of Wylie Slaughter the dying head of the Central Intelligence Agency


( S ( NP-SBJ-3 ( NP ( DT The ) ( JJ lowly ) ( NN agent ) ) ( NP ( NNP Abel ) ( NNP Lamb ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD might ) ( VP ( VB guess ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN led ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN slaughter ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN ordered ) ( S ( VP ( TO to ) ( VP ( VB take ) ( PRT ( RP over ) ) ( NP ( DT the ) ( NN studio ) ) ) ) ) ) ) )

The lowly agent Abel Lamb who as you might guess is being led to the slaughter is ordered to take over the studio


( S ( ADVP-TMP ( RB Soon ) ) ( NP-SBJ ( DT the ) ( NN studio ) ) ( VP ( VBZ is ) ( VP ( VBG producing ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 40 ) ( CD million ) ) ) ( NN picture ) ) ( VP ( VBN called ) ( S ( NP-TTL-PRD ( NP ( NNP Tet ) ) ( NP ( DT the ) ( NNP Motion ) ( NNP Picture ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB distinguish ) ( NP ( PRP it ) ) ( PP-CLR ( IN from ) ( NP ( NP-TTL ( NP ( NNP Tet ) ) ( NP ( DT the ) ( NNP Offensive ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP-TTL ( NP ( NNP Tet ) ) ( NP ( DT the ) ( NNP Book ) ) ) ( CC and ) ( NP-TTL ( NP ( NNP Tet ) ) ( NP ( DT the ) ( NNP Album ) ) ) ) ) ) ) ) ) ) ) ) ) )

Soon the studio is producing a 40 million picture called Tet the Motion Picture to distinguish it from Tet the Offensive as well as Tet the Book and Tet the Album


( S ( NP-SBJ ( NP ( DT The ) ( NN picture ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN made ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( ADJP ( JJ Central ) ( JJ American ) ) ( NN country ) ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Elvador ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN cover ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG sending ) ( NP ( NP ( QP ( CD 800 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NNS arms ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( NNP Los ) ( NNP Otros ) ) ( NP ( NP ( DT the ) ( JJ rebel ) ( NN group ) ) ( VP ( VBG attempting ) ( S ( VP ( TO to ) ( VP ( VB regain ) ( NP ( NP ( JJ neighboring ) ( NNP Ambigua ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN taken ) ( PRT ( RP over ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( JJ leftist ) ( NN dictator ) ( NNP Dr. ) ( NNP Overtega ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NN podiatrist ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBZ leads ) ( NP ( NP ( DT a ) ( JJ revolutionary ) ( NN band ) ) ( PP ( IN of ) ( NP ( NN foot ) ( NNS soldiers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The picture to be made in the Central American country of San Elvador is a cover for sending 800 million of arms to Los Otros the rebel group attempting to regain neighboring Ambigua which has been taken over by the leftist dictator Dr. Overtega a former podiatrist who leads a revolutionary band of foot soldiers


( S ( NP-SBJ ( NP ( DT The ) ( NN man ) ) ( VP ( VBG handling ) ( NP ( PDT all ) ( DT this ) ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( JJ now-deceased ) ( NNP Slaughter ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP Major ) ( NNP Manley ) ( NNP Battle ) ) ( NP ( NP ( NP ( NNP Mr. ) ( NNP Gelbart ) ( POS 's ) ) ( NN stand ) ( RP in ) ) ( PP ( IN for ) ( NP ( NNP Col. ) ( NNP Oliver ) ( NNP North ) ) ) ) ) ) )

The man handling all this for the now-deceased Slaughter is Major Manley Battle Mr. Gelbart 's stand in for Col. Oliver North


( S ( NP-SBJ ( NNP Director ) ( NNP Michael ) ( NNP Engler ) ) ( VP ( VBZ has ) ( VP ( VBN assembled ) ( NP ( NP ( DT a ) ( JJ top-flight ) ( NN cast ) ) ( SBAR ( S ( VP ( VP ( TO to ) ( VP ( VB carry ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NNS impersonations ) ) ( PP ( IN of ) ( NP ( JJ well-known ) ( JJ political ) ( NNS figures ) ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB play ) ( NP ( NP ( DT the ) ( JJ stock ) ( NNS characters ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB invariably ) ) ( VP ( VB show ) ( PRT ( RP up ) ) ( PP-LOC ( IN at ) ( NP ( JJ congressional ) ( NNS hearings ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Director Michael Engler has assembled a top-flight cast to carry out the impersonations of well-known political figures and to play the stock characters who invariably show up at congressional hearings


( S ( S ( NP-SBJ-2 ( NNP Daniel ) ( NNP von ) ( NNP Bargen ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJ ramrod-stiff ) ) ( CC but ) ( ADJP ( RB totally ) ( JJ assured ) ) ) ( PP ( IN as ) ( NP ( NNP Major ) ( NNP Battle ) ) ) ( S-ADV ( VP ( VBG mixing ) ( NP ( NP ( RB just ) ( DT the ) ( JJ right ) ( NN brand ) ) ( PP ( IN of ) ( NP ( NN self-righteousness ) ( CC and ) ( NN patriotism ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Jeff ) ( NNP Weiss ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN fire ) ) ( NP ( NN brimstone ) ) ( CC and ) ( NP ( JJ teary-eyed ) ( NN emotionalism ) ) ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( JJ far-right ) ( NN senator ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ serves ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( JJ friendly ) ( NN interrogator ) ) ( PP ( IN of ) ( NP ( NNP Major ) ( NNP Battle ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ-3 ( NNP Zach ) ( NNP Grenier ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB maddeningly ) ( JJ officious ) ) ( S-ADV ( VP ( VBG playing ) ( NP ( NP ( DT a ) ( NN succession ) ) ( PP ( IN of ) ( NP ( NNS lawyers ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Joseph ) ( NNP Daly ) ) ( VP ( VBZ has ) ( NP ( NP ( DT the ) ( JJ perfect ) ( INTJ ( UH aw ) ( UH shucks ) ) ( NN demeanor ) ) ( PP ( IN of ) ( NP ( NNP George ) ( NNP Bush ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ his ) ( NN portrayal ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN vice ) ( NN president ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Ann ) ( NNP McDonough ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ first-rate ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN succession ) ) ( PP ( IN of ) ( NP ( NP ( NNS witnesses ) ( POS ' ) ) ( NNS wives ) ) ) ) ) ) ) )

Daniel von Bargen is ramrod-stiff but totally assured as Major Battle mixing just the right brand of self-righteousness and patriotism Jeff Weiss is fire brimstone and teary-eyed emotionalism as the far-right senator who serves as a friendly interrogator of Major Battle Zach Grenier is maddeningly officious playing a succession of lawyers Joseph Daly has the perfect aw shucks demeanor of George Bush in his portrayal of the vice president and Ann McDonough is first-rate as a succession of witnesses ' wives


( S ( S ( PP ( IN With ) ( NP ( CD one ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ pregnant ) ) ) ) ( S ( PP ( IN with ) ( NP ( NNP Major ) ( NNP Battle ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ is ) ( VP ( VBG knitting ) ( NP ( DT an ) ( JJ American ) ( NN flag ) ) ) ) ) ( CC and ) ( S ( PP ( IN as ) ( NP ( NP ( DT the ) ( NN vice ) ( NN president ) ( POS 's ) ) ( NN wife ) ) ) ( NP-SBJ-1 ( PRP she ) ) ( VP ( VBZ rushes ) ( ADVP-DIR ( RB in ) ) ( PP ( IN with ) ( NP ( JJ white ) ( NN hair ) ) ) ( S-ADV ( VP ( VBG wearing ) ( NP ( NP ( DT a ) ( JJ tailored ) ( NN suit ) ) ( CC and ) ( NP ( NNS pearls ) ) ) ) ) ( S-ADV ( VP ( VBG imitating ) ( NP ( NP ( NNP Barbara ) ( NNP Bush ) ( POS 's ) ) ( NNS gestures ) ) ( PP-MNR ( IN down ) ( PP ( TO to ) ( NP ( DT the ) ( JJ last ) ( NN detail ) ) ) ) ) ) ) ) )

With one she is pregnant with Major Battle she is knitting an American flag and as the vice president 's wife she rushes in with white hair wearing a tailored suit and pearls imitating Barbara Bush 's gestures down to the last detail


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ clear ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Gelbart ) ( POS 's ) ) ( NNS sympathies ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB lie ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( RB far ) ( JJ right ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ true ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ evenhanded ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG dispensing ) ( NP ( PRP$ his ) ( JJ satirical ) ( NNS jabs ) ) ) ) ) ( S-ADV ( VP ( VBG taking ) ( NP ( JJ sharp ) ( NN aim ) ) ( PP-CLR ( PP ( IN at ) ( NP ( NP ( NNS senators ) ( CC and ) ( NNS congressmen ) ) ( PP ( IN of ) ( NP ( DT all ) ( NNS stripes ) ) ) ) ) ( CC and ) ( PP ( ADVP ( RB particularly ) ) ( IN at ) ( NP ( DT the ) ( NNS media ) ) ) ) ) ) ) ) ) ) )

Though it 's clear that Mr. Gelbart 's sympathies do not lie with the far right it 's also true that he is evenhanded in dispensing his satirical jabs taking sharp aim at senators and congressmen of all stripes and particularly at the media


( S ( NP-SBJ ( NNP Mr. ) ( NNP Gelbart ) ) ( ADVP ( RB also ) ) ( VP ( VBZ has ) ( NP ( NN fun ) ) ( PP ( IN with ) ( NP ( NN language ) ) ) ) )

Mr. Gelbart also has fun with language


( S ( S ( NP-TTL-SBJ-1 ( NNP Mastergate ) ) ( VP ( VBZ is ) ( VP ( VBN subtitled ) ( S ( NP-PRD ( NP ( DT a ) ( NN play ) ) ( PP ( IN on ) ( NP ( NNS words ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Gelbart ) ) ( VP ( VBZ plays ) ( NP ( DT that ) ( NN game ) ) ( ADVP-MNR ( ADVP ( RB as ) ( RB well ) ) ( PP ( IN as ) ( NP ( NN anyone ) ) ) ) ) ) )

Mastergate is subtitled a play on words and Mr. Gelbart plays that game as well as anyone


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ describes ) ( NP ( DT a ) ( NNP Mastergate ) ( NN flunky ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NN one ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VP ( VBD experienced ) ( NP ( DT a ) ( JJ meteoric ) ( NN disappearance ) ) ) ( CC and ) ( VP ( VBD found ) ( S ( NP-SBJ ( PRP himself ) ) ( VP ( VBG handling ) ( NP ( NN blanket ) ( NNS appeals ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Bureau ) ) ( PP ( IN of ) ( NP ( NNP Indian ) ( NNP Affairs ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He describes a Mastergate flunky as one who experienced a meteoric disappearance and found himself handling blanket appeals at the Bureau of Indian Affairs


( S ( NP-SBJ ( NP ( DT This ) ( NN interest ) ) ( PP ( IN in ) ( NP ( NNS words ) ) ) ) ( VP ( VBZ goes ) ( PP-DIR ( IN beyond ) ( NP ( NNS puns ) ( CC and ) ( NN playfulness ) ) ) ( ADVP ( RB however ) ) ) )

This interest in words goes beyond puns and playfulness however


( S ( NP-SBJ ( NNP Mr. ) ( NNP Gelbart ) ) ( VP ( VBZ deplores ) ( NP ( NP ( NP ( DT the ) ( NN obfuscation ) ) ( NP ( DT the ) ( NN circumlocution ) ) ( CC and ) ( NP ( DT the ) ( NN debasement ) ) ) ( PP ( IN of ) ( NP ( NN language ) ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ sees ) ( PP-LOC ( IN on ) ( NP ( DT all ) ( NNS sides ) ) ) ) ) ) ) ) )

Mr. Gelbart deplores the obfuscation the circumlocution and the debasement of language he sees on all sides


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( DT the ) ( NNS hearings ) ) ( VP ( VBP begin ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ self-important ) ( NNP Sen. ) ( NNP Bowman ) ) ( PRN ( NP ( NNP Jerome ) ( NNP Kilty ) ) ) ) ( VP ( VBZ announces ) ( S ( S ( VP ( VB Let ) ( S ( NP-SBJ ( PRP me ) ) ( VP ( VB emphaticize ) ( NP ( CD one ) ( NN thing ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( NN outset ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP are ) ( RB not ) ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( NNS hides ) ) ( SBAR ( S ( VP ( TO to ) ( NP ( NN skin ) ) ) ) ) ) ( CC nor ) ( NP ( NP ( NNS goats ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB scape ) ) ) ) ) ) ) ) ) ) ) ) ) )

As the hearings begin the self-important Sen. Bowman Jerome Kilty announces Let me emphaticize one thing at the outset We are not looking for hides to skin nor goats to scape


( S ( S ( NP-SBJ ( NP ( NNP Major ) ( NNP Battle ) ) ( NP ( PRP himself ) ) ) ( VP ( VBZ speaks ) ( PP-CLR ( IN in ) ( NP ( JJ pure ) ( NNP Pentagonese ) ) ) ) ) ( S ( PP ( IN Without ) ( NP ( JJ further ) ( JJ monetary-stroke-military ) ( NN aid ) ) ) ( NP-SBJ-2 ( NP ( NNS scores ) ) ( PP ( IN of ) ( NP ( NP ( JJ Ambiguan ) ( NN freedom ) ( NNS lovers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN gone ) ( PP-DIR ( ADVP ( RB way ) ) ( IN out ) ( PP ( IN on ) ( NP ( PRP$ their ) ( NN life ) ( CC and ) ( NNS limbs ) ) ) ) ( PP-PRP ( IN for ) ( NP ( PRP us ) ) ) ) ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( ADVP-MNR ( RB literally ) ) ( VBN cut ) ( PRT ( RP off ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNS knees ) ) ) ( PP ( IN without ) ( NP ( DT a ) ( NN paddle ) ) ) ) ) ) )

Major Battle himself speaks in pure Pentagonese Without further monetary-stroke-military aid scores of Ambiguan freedom lovers who had gone way out on their life and limbs for us were literally cut off at the knees without a paddle


( S ( PP-TMP ( IN At ) ( NP ( DT another ) ( NN point ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ intones ) ( S ( NP-SBJ ( NN Publicity ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ small ) ( NN price ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( NN secrecy ) ) ) ) ) ) ) ) ) ) ) )

At another point he intones Publicity is a small price to pay for secrecy


( S ( S ( NP-SBJ ( DT The ) ( NN evening ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJ short ) ) ( PRN ( NP ( NP ( CD 95 ) ( NNS minutes ) ) ( PP ( IN without ) ( NP ( DT an ) ( NN intermission ) ) ) ) ) ) ) ) ( CC but ) ( ADVP ( RB even ) ( RB so ) ) ( S ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN play ) ) ( VP ( VBZ progresses ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN thrust ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Gelbart ) ( POS 's ) ) ( NN satire ) ) ) ) ( VP ( VBZ loses ) ( NP ( PRP$ its ) ( NN sharpness ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( PRP$ his ) ( NNS targets ) ) ( VP ( VBP pop ) ( PRT ( RP up ) ) ( ADVP-MNR ( RB ever ) ( RBR more ) ( RB predictably ) ) ) ) ) ) ) )

The evening is short 95 minutes without an intermission but even so as the play progresses the thrust of Mr. Gelbart 's satire loses its sharpness as his targets pop up ever more predictably


( S ( NP-SBJ-1 ( NP ( RBS Most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN evening ) ) ) ) ( ADVP ( RB though ) ) ( VP ( VBZ is ) ( VP ( VBN filled ) ( PP-CLR ( IN with ) ( NP ( ADJP ( JJ rare ) ( CC and ) ( JJ welcome ) ) ( NN wit ) ) ) ) ) )

Most of the evening though is filled with rare and welcome wit


( S ( PP-LOC ( IN In ) ( NP-TTL ( NNP Mastergate ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Gelbart ) ) ( VP ( VBZ has ) ( VP ( VBN provided ) ( NP ( PRP us ) ) ( NP ( NP ( NP ( QP ( RB not ) ( RB just ) ( CD one ) ( CC but ) ( CD two ) ) ( NNS commodities ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( ADVP ( RB all ) ( RB but ) ) ( VBD disappeared ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NNP Broadway ) ( NN theater ) ) ) ) ) ) ) ) ( NP ( NP ( JJ sharp ) ( JJ political ) ( NN satire ) ) ( CC and ) ( NP ( NP ( DT an ) ( ADJP ( RB even ) ( JJR sharper ) ) ( NN appreciation ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( NN language ) ) ) ) ) ) ) ) ) ) )

In Mastergate Mr. Gelbart has provided us not just one but two commodities that have all but disappeared from the Broadway theater sharp political satire and an even sharper appreciation of the value of language


( S ( S ( NP-SBJ ( NP ( NNS Efforts ) ) ( PP ( IN by ) ( NP ( DT a ) ( JJ federal ) ( NN mediator ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB reignite ) ( NP ( NP ( NNS talks ) ) ( PP ( IN between ) ( NP ( NP ( NNP Boeing ) ( NNP Co. ) ) ( CC and ) ( NP ( DT the ) ( NNPS Machinists ) ( NN union ) ) ) ) ) ) ) ) ) ( ADVP ( RB apparently ) ) ( VP ( VBD failed ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( DT no ) ( JJ further ) ( NNS meetings ) ) ( VP ( VBP are ) ( VP ( VBN scheduled ) ) ) ) )

Efforts by a federal mediator to reignite talks between Boeing Co. and the Machinists union apparently failed and no further meetings are scheduled


( S ( S ( NP-SBJ ( NP ( NN Company ) ( NNS officials ) ) ( CC and ) ( NP ( NN union ) ( NNS representatives ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB meet ) ( NP-ADV ( NN face ) ( TO to ) ( VB face ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN mediator ) ) ( VP ( VBD shuttled ) ( PP-DIR ( IN between ) ( NP ( DT the ) ( CD two ) ( NNS groups ) ) ) ) ) )

Company officials and union representatives did n't meet face to face but the mediator shuttled between the two groups


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN statement ) ) ( VP ( VBN issued ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( NN meeting ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ aerospace ) ( NN giant ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB increase ) ( NP ( PRP$ its ) ( NN offer ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( NP ( NNS adjustments ) ) ( PP-LOC ( IN within ) ( NP ( DT the ) ( JJ proposed ) ( JJ pay-and-benefit ) ( NN mix ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ possible ) ) ) ) ) ) ) ) ) ) )

In a statement issued after the meeting the aerospace giant said it wo n't increase its offer although adjustments within the proposed pay-and-benefit mix are possible


( S ( NP-SBJ ( NNS Machinists ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBP have ) ( VP ( VBN rejected ) ( NP ( NP ( DT a ) ( NN proposal ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD called ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NX ( NX ( ADJP ( CD 4 ) ( NN % ) ) ( NN pay ) ( NN increase ) ) ( CC and ) ( NP ( ADJP ( CD 8 ) ( NN % ) ) ( NN bonus ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( NN year ) ) ) ) ) ) ) ) ) ) ) )

Machinists already have rejected a proposal that called for a 4 % pay increase and 8 % bonus in the first year


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ second ) ( NN year ) ) ) ( NP-SBJ ( NNS workers ) ) ( VP ( MD would ) ( VP ( VB receive ) ( NP ( NP ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN wage ) ( NN boost ) ) ( CC and ) ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN bonus ) ) ) ( PP ( VBN followed ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN without ) ( NP ( DT a ) ( NN bonus ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN year ) ) ) ) ) ) ) ) ) )

In the second year workers would receive a 3 % wage boost and a 3 % bonus followed by a 3 % increase without a bonus in the third year


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( MD will ) ( RB not ) ( VP ( VB budge ) ( PP-LOC ( IN on ) ( NP ( NN anything ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( DT a ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN union ) ) ) ) )

The company will not budge on anything said a spokesman for the union


( S ( S ( S-TPC-2 ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( DT the ) ( NN strike ) ) ( VP ( VBZ enters ) ( NP ( PRP$ its ) ( JJ 15th ) ( NN day ) ) ( NP-TMP ( NN today ) ) ) ) ) ( NP-SBJ ( DT some ) ( NNS members ) ) ( VP ( VBP are ) ( VP ( VBG getting ) ( ADJP-PRD ( JJ nervous ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD conceded ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN majority ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 55,000 ) ( NNPS Machinists ) ) ) ) ( VP ( VBP are ) ( VP ( VBN prepared ) ( S ( VP ( TO to ) ( VP ( VB wait ) ( NP ( PRP it ) ) ( PRT ( RP out ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB long ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ takes ) ) ) ) ) ) ) ) ) ) ) )

As the strike enters its 15th day today some members are getting nervous the spokesman conceded but the majority of the 55,000 Machinists are prepared to wait it out as long as it takes


( S ( NP-SBJ ( NNP Benj ) ( NNP Franklin ) ( NNP Federal ) ( NNP Savings ) ( CC & ) ( NNP Loan ) ( NNP Association ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB post ) ( NP ( NP ( DT a ) ( JJ third-quarter ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.04 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG adding ) ( NP ( NP ( QP ( CD 11 ) ( CD million ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ loan-loss ) ( NNS reserves ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Benj Franklin Federal Savings & Loan Association said it expects to post a third-quarter net loss of about 8 million or 1.04 a share as a result of adding 11 million in loan-loss reserves


( S ( NP-SBJ ( NP ( DT The ) ( NAC-LOC ( NNP Portland ) ( NNP Ore. ) ) ( NN thrift ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( NP ( QP ( CD 5.2 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NNS assets ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP-TMP ( IN in ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( JJ third ) ( NN quarter ) ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 1.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 23 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

The Portland Ore. thrift which has 5.2 billion of assets had net income in last year 's third quarter of 1.8 million or 23 cents a share


( S ( NP-SBJ ( NNP Franklin ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB report ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ) ( NP-TMP ( IN next ) ( NN week ) ) ) ) ) ) ) ) ) )

Franklin said it expects to report earnings for the latest quarter next week


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( JJ additional ) ( NNS reserves ) ) ( VP ( VBP relate ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( JJ possible ) ( NNS write-downs ) ) ( PP ( IN of ) ( NP ( NP ( JJ certain ) ( NNS assets ) ) ( VP ( VBN held ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Franklin ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS subsidiaries ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN default ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN bond ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN investment ) ( NN portfolio ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN thrift ) ) ( VP ( VBD said ) ) )

The additional reserves relate to possible write-downs of certain assets held by Franklin and its subsidiaries and the default of a bond in its investment portfolio the thrift said


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( DT a ) ( NN spokeswoman ) ) ) ) ( NP-SBJ ( PRP they ) ) ( ADVP ( RB also ) ) ( VP ( VBP relate ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS changes ) ) ( SBAR ( S ( NP-SBJ-2 ( NNP Franklin ) ) ( VP ( MD will ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB make ) ) ) ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN accounting ) ( NNS procedures ) ) ) ( S-PRP-3 ( VP ( TO to ) ( VP ( VB comply ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ new ) ( JJ federal ) ( NN capitalization ) ( NNS requirements ) ) ( PP ( IN for ) ( NP ( NNS thrifts ) ) ) ) ) ) ) ) ) ) ) )

According to a spokeswoman they also relate to changes Franklin will have to make in its accounting procedures to comply with new federal capitalization requirements for thrifts


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ( POS 's ) ) ( NNS shares ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( CD 4.25 ) ) ) ( ADVP ( RB off ) ( NP ( CD 25 ) ( NNS cents ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ) )

The company 's shares closed yesterday at 4.25 off 25 cents in national over-the-counter trading


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ former ) ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP FirstSouth ) ( NNP F.A. ) ) ( NP ( DT a ) ( JJ defunct ) ( NNP Arkansas ) ( NN thrift ) ) ) ) ) ( VP ( VBD pleaded ) ( ADJP-PRD ( JJ guilty ) ( PP ( TO to ) ( S-NOM ( VP ( VBG conspiring ) ( S ( VP ( TO to ) ( VP ( VB inflate ) ( NP ( NP ( DT the ) ( NN institution ) ( POS 's ) ) ( NNS earnings ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG concealing ) ( NP ( JJ worthless ) ( NN loan ) ( NNS guarantees ) ) ) ) ) ) ) ) ) ) ) ) ) )

The former president of FirstSouth F.A. a defunct Arkansas thrift pleaded guilty to conspiring to inflate the institution 's earnings by concealing worthless loan guarantees


( S ( NP-SBJ ( NP ( NNP Roderick ) ( NNP D. ) ( NNP Reed ) ( NNP III ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD was ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( JJ chief ) ( NN operating ) ( NN officer ) ) ( PP ( IN of ) ( NP ( NNP FirstSouth ) ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB receive ) ( NP ( NP ( DT a ) ( JJ maximum ) ( NN sentence ) ) ( PP ( IN of ) ( NP ( NP ( NP ( CD five ) ( NNS years ) ) ( PP-LOC ( IN in ) ( NP ( JJ federal ) ( NN prison ) ) ) ) ( CC and ) ( NP ( DT a ) ( ADJP ( CD 250,000 ) ) ( NN fine ) ) ) ) ) ) ) )

Roderick D. Reed III who was also chief operating officer of FirstSouth could receive a maximum sentence of five years in federal prison and a 250,000 fine


( S ( NP-SBJ-1 ( DT A ) ( NN sentencing ) ( NN date ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN been ) ( VP ( VBN set ) ) ) ) )

A sentencing date has n't been set


( S ( NP-SBJ ( NNP Mr. ) ( NNP Reed ) ) ( VP ( VBD admitted ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD conspired ) ( S ( VP ( TO to ) ( VP ( VB conceal ) ( NP ( DT an ) ( NN agreement ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB enforce ) ( NP ( NP ( NN loan ) ( NNS guarantees ) ) ( VP ( VBN executed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Dallas ) ( NN real-estate ) ( NNS developers ) ( NN A. ) ( NNP Starke ) ( NNP Taylor ) ( NNP III ) ( CC and ) ( NNP George ) ( NNP S. ) ( NNP Watson ) ) ( SBAR ( WHNP-2 ( WHNP ( DT both ) ) ( WHPP ( IN of ) ( WHNP ( WP whom ) ) ) ) ( S ( VP ( VBD were ) ( NP-PRD ( NNP FirstSouth ) ( NNS stockholders ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Reed admitted he conspired to conceal an agreement not to enforce loan guarantees executed by Dallas real-estate developers A. Starke Taylor III and George S. Watson both of whom were FirstSouth stockholders


( S ( NP-SBJ-1 ( CC Neither ) ( NP ( NNP Mr. ) ( NNP Taylor ) ) ( CC nor ) ( NP ( NNP Mr. ) ( NNP Watson ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN charged ) ( PP-CLR ( IN with ) ( NP ( JJ criminal ) ( NN wrongdoing ) ) ) ) ) ) )

Neither Mr. Taylor nor Mr. Watson have been charged with criminal wrongdoing


( S ( PP-MNR ( IN By ) ( S-NOM ( VP ( VBG concealing ) ( NP ( DT the ) ( JJ non-enforcement ) ( NN agreement ) ) ) ) ) ( NP-SBJ-1 ( NP ( JJ certain ) ( NNS transactions ) ) ( PP ( IN with ) ( NP ( NNP Messrs. ) ( NNP Taylor ) ( CC and ) ( NNP Watson ) ) ) ) ( VP ( VBD were ) ( VP ( VBN entered ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NNP FirstSouth ) ( POS 's ) ) ( NNS books ) ) ) ( PP-CLR ( IN as ) ( NP ( NNS loans ) ) ) ( S-ADV ( VP ( VBG allowing ) ( S ( NP-SBJ ( DT the ) ( NN thrift ) ) ( VP ( TO to ) ( VP ( VB report ) ( NP ( NNS fees ) ( CC and ) ( NN interest ) ) ( PP-CLR ( IN as ) ( NP ( JJ current ) ( NN income ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NP ( DT the ) ( NNP U.S. ) ( NN attorney ) ( POS 's ) ) ( NN office ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Little ) ( NNP Rock ) ) ( NP ( NNP Ark ) ) ) ) ) ) ) ) ) )

By concealing the non-enforcement agreement certain transactions with Messrs. Taylor and Watson were entered on FirstSouth 's books as loans allowing the thrift to report fees and interest as current income according to the U.S. attorney 's office in Little Rock Ark


( S ( NP-SBJ ( DT The ) ( NN conspiracy ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( NN effort ) ) ( PP ( IN by ) ( NP ( NNP Mr. ) ( NNP Reed ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB hide ) ( NP ( NP ( NNP FirstSouth ) ( POS 's ) ) ( JJ shaky ) ( JJ financial ) ( NN condition ) ) ( PP-CLR ( IN from ) ( NP ( JJ federal ) ( NNS regulators ) ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( JJ federal ) ( NNS prosecutors ) ( CC and ) ( NNS regulators ) ) ) ) ) )

The conspiracy was part of an effort by Mr. Reed to hide FirstSouth 's shaky financial condition from federal regulators according to federal prosecutors and regulators


( S ( NP-SBJ-1 ( DT The ) ( ADJP ( QP ( CD 1.68 ) ( CD billion ) ) ) ( NN thrift ) ) ( VP ( VP ( VBD was ) ( VP ( VBN declared ) ( S ( ADJP-PRD ( JJ insolvent ) ) ) ) ) ( CC and ) ( VP ( VBN closed ) ) ( PP-TMP ( IN in ) ( NP ( NNP December ) ( CD 1986 ) ) ) ) )

The 1.68 billion thrift was declared insolvent and closed in December 1986


( S ( NP-SBJ-1 ( NP ( NP ( NNP FirstSouth ) ( POS 's ) ) ( JJ former ) ( NX ( NX ( NN chairman ) ) ( CC and ) ( NX ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ) ( NP ( NNP Howard ) ( NNP Weichern ) ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBN charged ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG conspiring ) ( S ( VP ( TO to ) ( VP ( VB conceal ) ( NP ( NP ( DT the ) ( NNS agreements ) ) ( PP ( IN with ) ( NP ( NNPS Messrs. ) ( NNP Watson ) ( CC and ) ( NNP Taylor ) ) ) ) ) ) ) ) ) ) ) ) )

FirstSouth 's former chairman and chief executive officer Howard Weichern is also charged with conspiring to conceal the agreements with Messrs. Watson and Taylor


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Weichern ) ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( PP-CLR ( IN for ) ( NP ( NP ( NN trial ) ) ( NP-TMP ( NNP Jan. ) ( CD 3 ) ) ) ) ( PP-LOC ( IN before ) ( NP ( NP ( JJ federal ) ( NNP Judge ) ( NNP Stephen ) ( NNP Reasoner ) ) ( PP ( IN of ) ( NP ( NNP Little ) ( NNP Rock ) ) ) ) ) ) ) )

Mr. Weichern is scheduled for trial Jan. 3 before federal Judge Stephen Reasoner of Little Rock


( S ( NP-SBJ ( NNP Zurn ) ( NNP Industries ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD received ) ( NP ( NN approval ) ( S ( VP ( TO to ) ( VP ( VB proceed ) ( PP-CLR ( IN on ) ( NP ( NP ( CD four ) ( JJ separate ) ( NNS projects ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ total ) ( NN contract ) ( NN value ) ) ( PP ( IN of ) ( NP ( QP ( CD 59 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Zurn Industries Inc. said it received approval to proceed on four separate projects with a total contract value of 59 million