( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( NNP Seattle ) ( POS 's ) ) ( NN license ) ( NNS fees ) ) ( PP ( IN for ) ( NP ( JJ adult ) ( NN peep ) ( NNS shows ) ) ) ) ( VP ( VP ( VBP vary ) ( PP-CLR ( IN from ) ( NP ( NP ( DT those ) ) ( PP ( IN for ) ( NP ( JJ other ) ( JJ coin-operated ) ( NNS amusements ) ) ) ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG serving ) ( NP ( DT a ) ( JJ substantial ) ( NN government ) ( NN interest ) ) ) ) ) ) ( CC and ) ( VP ( VBP are ) ( ADJP-PRD ( JJ unconstitutional ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ ninth-circuit ) ( NNS appeals ) ( NN court ) ) ( VP ( VBZ holds ) ( PP ( IN for ) ( NP ( NNP Acorn ) ( NNP Investments ) ( NNP Inc ) ) ) ) )

Seattle 's license fees for adult peep shows vary from those for other coin-operated amusements without serving a substantial government interest and are unconstitutional the ninth-circuit appeals court holds for Acorn Investments Inc


( S ( NP-SBJ ( NP ( NNP Vickers ) ( NNP PLC ) ) ( NP ( DT a ) ( JJ British ) ( JJ aerospace ) ( NN defense ) ( CC and ) ( JJ automotive ) ( NN conglomerate ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( NP ( DT an ) ( JJ agreed ) ( NN cash ) ( NN bid ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 108.2 ) ( CD million ) ) ) ( PRN ( NP ( QP ( CD 173.3 ) ( CD million ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NNP Ross ) ( NNP Catherall ) ( NNP Group ) ( NNP PLC ) ) ( NP ( NP ( DT a ) ( NN maker ) ) ( PP ( IN of ) ( NP ( JJ specialty ) ( NN alloy ) ( CC and ) ( NNS ceramics ) ) ) ) ) ) ) ) ) ) ) )

Vickers PLC a British aerospace defense and automotive conglomerate said it reached an agreed cash bid of 108.2 million 173.3 million for Ross Catherall Group PLC a maker of specialty alloy and ceramics


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( NP ( NP ( NNS acceptances ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN offer ) ) ( PP ( IN of ) ( NP ( NP ( CD 253 ) ( NNS pence ) ) ( PRN ( NP ( CD 4.05 ) ) ) ( PP ( IN per ) ( NP ( NN share ) ) ) ) ) ( VP ( VBG representing ) ( NP ( NP ( NP ( QP ( IN at ) ( JJS least ) ( CD 67 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Ross ) ( NNP Catherall ) ( POS 's ) ) ( JJ issued ) ( NN share ) ( NN capital ) ) ) ) ( CC or ) ( NP ( QP ( CD 12.7 ) ( CD million ) ) ( JJ ordinary ) ( NNS shares ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said it expects to receive acceptances for its offer of 253 pence 4.05 per share representing at least 67 % of Ross Catherall 's issued share capital or 12.7 million ordinary shares


( S ( NP-SBJ ( NNP Vickers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN offer ) ) ( ADVP ( RB also ) ) ( VP ( VBZ includes ) ( NP ( DT an ) ( NN option ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( NP ( DT a ) ( JJ redeemable ) ( NN loan ) ( NN note ) ) ( PP ( IN in ) ( NP ( NP ( NN lieu ) ) ( PP ( IN of ) ( NP ( NN cash ) ) ) ) ) ) ) ) ) ) ) ) ) )

Vickers said its offer also includes an option to receive a redeemable loan note in lieu of cash


( S ( NP-SBJ-1 ( DT The ) ( NNS notes ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN redeemed ) ( PP-TMP ( VBG starting ) ( PP ( IN in ) ( NP ( NNP July ) ( CD 1991 ) ) ) ) ) ) ) )

The notes can be redeemed starting in July 1991


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Ross ) ( NNP Catherall ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN covered ) ( PP ( ADVP ( RB largely ) ) ( IN by ) ( NP-LGS ( NP ( NN cash ) ) ( VP ( VBN raised ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ its ) ( NNP July ) ( NN disposal ) ) ( PP ( IN of ) ( NP ( NNP Howson-Algraphy ) ) ) ( PP ( IN for ) ( NP ( QP ( CD 241.7 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said its acquisition of Ross Catherall will be covered largely by cash raised in its July disposal of Howson-Algraphy for 241.7 million


( S ( NP-SBJ ( NP ( JJ Short ) ( NN interest ) ) ( PP ( IN in ) ( NP ( NNP Nasdaq ) ( JJ over-the-counter ) ( NNS stocks ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 6 ) ( NN % ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP mid-October ) ) ) ) ( NP-ADV ( NP ( PRP$ its ) ( JJS biggest ) ( NN jump ) ) ( PP-TMP ( IN since ) ( NP ( NP ( CD 6.3 ) ( NN % ) ) ( NP-TMP ( JJ last ) ( NNP April ) ) ) ) ) ) )

Short interest in Nasdaq over-the-counter stocks rose 6 % as of mid-October its biggest jump since 6.3 % last April


( S ( NP-SBJ-1 ( DT The ) ( ADJP ( RBS most ) ( JJ recent ) ) ( NNP OTC ) ( JJ short ) ( NN interest ) ( NNS statistics ) ) ( VP ( VBD were ) ( VP ( VBN compiled ) ( NP-TMP ( NP ( NNP Oct. ) ( CD 13 ) ) ( NP ( NP ( DT the ) ( NN day ) ) ( SBAR ( S ( S ( NP-SBJ ( DT the ) ( NNP Nasdaq ) ( JJ composite ) ( NN index ) ) ( VP ( VBD slid ) ( NP-EXT ( CD 3 ) ( NN % ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ( VP ( VBD tumbled ) ( NP-EXT ( CD 7 ) ( NN % ) ) ) ) ) ) ) ) ) ) )

The most recent OTC short interest statistics were compiled Oct. 13 the day the Nasdaq composite index slid 3 % and the New York Stock Exchange tumbled 7 %


( S ( NP-SBJ ( DT The ) ( NN coincidence ) ) ( VP ( MD might ) ( VP ( VB lead ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN conclusion ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS short-sellers ) ) ( VP ( VBD bet ) ( ADVP-MNR ( RB heavily ) ) ( PP-TMP ( IN on ) ( NP ( DT that ) ( NN day ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP OTC ) ( NNS stocks ) ) ( VP ( MD would ) ( VP ( VB decline ) ( ADVP ( RB further ) ) ) ) ) ) ) ) ) ) ) ) ) )

The coincidence might lead to the conclusion that short-sellers bet heavily on that day that OTC stocks would decline further


( S ( SBAR-ADV ( IN As ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ happens ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Nasdaq ) ( NN composite ) ) ( VP ( VBD did ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB fall ) ) ) ) ( PP-TMP ( IN for ) ( NP ( CD two ) ( NNS days ) ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( JJ initial ) ( NN plunge ) ) ) ) ) )

As it happens the Nasdaq composite did continue to fall for two days after the initial plunge


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( DT the ) ( JJ short ) ( NN interest ) ( NNS figures ) ) ( VP ( VBN reported ) ( PP ( IN by ) ( NP-LGS ( NN brokerage ) ( CC and ) ( NNS securities ) ( NN clearing ) ( NNS firms ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNP Securities ) ( NNP Dealers ) ) ) ) ) ) ) ( VP ( VBP include ) ( ADVP ( RB only ) ) ( NP ( NP ( NP ( DT those ) ( NNS trades ) ) ( VP ( VBN completed ) ( CC or ) ( VBN settled ) ( PP-TMP ( IN by ) ( NP ( NNP Oct. ) ( CD 13 ) ) ) ) ) ( CONJP ( RB rather ) ( IN than ) ) ( NP ( NP ( NNS trades ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD occurred ) ( PP-TMP ( IN on ) ( NP ( DT that ) ( NN day ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNP Gene ) ( NNP Finn ) ) ( NP ( NP ( JJ chief ) ( NN economist ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP NASD ) ) ) ) ) ) ) ) )

However the short interest figures reported by brokerage and securities clearing firms to the National Association of Securities Dealers include only those trades completed or settled by Oct. 13 rather than trades that occurred on that day according to Gene Finn chief economist for the NASD


( S ( ADVP ( RB Generally ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ takes ) ( NP ( CD five ) ( NN business ) ( NNS days ) ) ( S-1 ( VP ( VP ( TO to ) ( VP ( VB transfer ) ( NP ( NN stock ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB take ) ( NP ( NP ( DT the ) ( JJ other ) ( NNS steps ) ) ( ADJP ( JJ necessary ) ( S ( VP ( TO to ) ( VP ( VB settle ) ( NP ( DT a ) ( NN trade ) ) ) ) ) ) ) ) ) ) ) ) )

Generally it takes five business days to transfer stock and to take the other steps necessary to settle a trade


( S ( NP-SBJ ( NP ( DT The ) ( JJ total ) ( JJ short ) ( NN interest ) ) ( PP ( IN in ) ( NP ( NNP Nasdaq ) ( NNS stocks ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP mid-October ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 237.1 ) ( CD million ) ) ( NNS shares ) ) ( UCP ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( CD 223.7 ) ( CD million ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ( CC but ) ( PP ( ADVP ( RB well ) ) ( IN below ) ( NP ( NP ( DT the ) ( JJ record ) ( NN level ) ) ( PP ( IN of ) ( NP ( QP ( CD 279 ) ( CD million ) ) ( NNS shares ) ) ) ( VP ( VBN established ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ( CD 1987 ) ) ) ) ) ) ) ) ) )

The total short interest in Nasdaq stocks as of mid-October was 237.1 million shares up from 223.7 million in September but well below the record level of 279 million shares established in July 1987


( S ( NP-SBJ ( NP ( DT The ) ( JJ sharp ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( NNP OTC ) ( JJ short ) ( NN interest ) ) ) ) ( VP ( VBZ compares ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( DT the ) ( ADJP ( CD 4.2 ) ( NN % ) ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( JJ short ) ( NN interest ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN rise ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NNP September-October ) ( NN period ) ) ) ) ) ) ) )

The sharp rise in OTC short interest compares with the 4.2 % decline in short interest on the New York Stock Exchange and the 3 % rise on the American Stock Exchange during the September-October period


( S ( S ( ADVP ( RB Generally ) ) ( NP-SBJ-5 ( DT a ) ( JJ short ) ( NN seller ) ) ( VP ( VP ( VBZ expects ) ( NP ( NP ( DT a ) ( NN fall ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN stock ) ( POS 's ) ) ( NN price ) ) ) ) ) ( CC and ) ( VP ( VBZ aims ) ( S ( VP ( TO to ) ( VP ( VB profit ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG selling ) ( NP ( NP ( VBN borrowed ) ( NNS shares ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP are ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN replaced ) ( ADVP-TMP ( RB later ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT the ) ( JJ short ) ( NN seller ) ) ( VP ( VBZ hopes ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN replacement ) ( NNS shares ) ) ( VP ( VBN bought ) ( ADVP-TMP ( RB later ) ) ) ) ( VP ( MD will ) ( VP ( VB cost ) ( NP ( NP ( JJR less ) ) ( PP ( IN than ) ( NP ( NP ( DT those ) ) ( SBAR ( WHNP-4 ( WDT that ) ) ( S ( VP ( VBD were ) ( VP ( VBN sold ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Generally a short seller expects a fall in a stock 's price and aims to profit by selling borrowed shares that are to be replaced later the short seller hopes the replacement shares bought later will cost less than those that were sold


( S ( NP-SBJ ( NP ( JJ Short ) ( NN interest ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ represents ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS shares ) ) ( VP ( VBN borrowed ) ( CC and ) ( VBN sold ) ( CC but ) ( ADVP-TMP ( RB not ) ( RB yet ) ) ( VBN replaced ) ) ) ) ) ) ) ) ) ( VP ( MD can ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJ bad-expectations ) ( NN barometer ) ) ( PP ( IN for ) ( NP ( JJ many ) ( NNS stocks ) ) ) ) ) ) )

Short interest which represents the number of shares borrowed and sold but not yet replaced can be a bad-expectations barometer for many stocks


( S ( PP-LOC ( IN Among ) ( NP ( NP ( CD 2,412 ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJS largest ) ( NNP OTC ) ( NNS issues ) ) ) ) ) ( NP-SBJ ( JJ short ) ( NN interest ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 196.8 ) ( CD million ) ) ( NNS shares ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 185.7 ) ( CD million ) ) ) ( PP-LOC ( IN in ) ( NP ( CD 2,379 ) ( NNS stocks ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) )

Among 2,412 of the largest OTC issues short interest rose to 196.8 million shares from 185.7 million in 2,379 stocks in September


( S ( NP-SBJ ( NP ( JJ Big ) ( NNS stocks ) ) ( PP ( IN with ) ( NP ( JJ large ) ( JJ short ) ( NN interest ) ( NNS gains ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Oct. ) ( CD 13 ) ) ) ) ) ( VP ( VBD included ) ( NP ( NP ( NNP First ) ( NNP Executive ) ) ( NP ( NNP Intel ) ) ( NP ( NNP Campeau ) ) ( CC and ) ( NP ( NNP LIN ) ( NNP Broadcasting ) ) ) ) )

Big stocks with large short interest gains as of Oct. 13 included First Executive Intel Campeau and LIN Broadcasting


( S ( NP-SBJ ( NP ( JJ Short ) ( NN interest ) ) ( PP ( IN in ) ( NP ( NP ( NNP First ) ( NNP Executive ) ) ( NP ( DT an ) ( NN insurance ) ( NN issue ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 55 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( CD 3.8 ) ( CD million ) ) ) ) )

Short interest in First Executive an insurance issue rose 55 % to 3.8 million


( S ( NP-SBJ ( NP ( NNP Intel ) ( POS 's ) ) ( JJ short ) ( NN interest ) ) ( VP ( VBD jumped ) ( NP-EXT ( CD 42 ) ( NN % ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Campeau ) ( POS 's ) ) ( VP ( VBD increased ) ( NP-EXT ( CD 62 ) ( NN % ) ) ) ) ) ) )

Intel 's short interest jumped 42 % while Campeau 's increased 62 %


( S ( S ( NP-SBJ ( NNP Intel ) ) ( VP ( VBZ makes ) ( NP ( NNS semiconductors ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Campeau ) ) ( VP ( VP ( VBZ operates ) ( NP ( NN department-store ) ( NNS chains ) ) ) ( CC and ) ( VP ( VBZ is ) ( ADJP-PRD ( VBN strained ) ( PP ( IN for ) ( NP ( NN cash ) ) ) ) ) ) ) )

Intel makes semiconductors and Campeau operates department-store chains and is strained for cash


( S ( NP-SBJ ( NNP Meritor ) ( NNP Savings ) ) ( ADVP-TMP ( RB again ) ) ( VP ( VBD had ) ( NP ( NP ( DT the ) ( JJ dubious ) ( NN honor ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( NP ( DT the ) ( NNP OTC ) ( NN stock ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJS biggest ) ( JJ short ) ( NN interest ) ( NN position ) ) ( PP-LOC ( IN on ) ( NP ( NNP Nasdaq ) ) ) ) ) ) ) ) ) ) ) )

Meritor Savings again had the dubious honor of being the OTC stock with the biggest short interest position on Nasdaq


( S ( NP-SBJ ( NNP Meritor ) ) ( VP ( VBZ has ) ( VP ( VBN headed ) ( NP ( DT the ) ( NN list ) ) ( PP-TMP ( IN since ) ( NP ( NNP May ) ) ) ) ) )

Meritor has headed the list since May


( S ( NP-SBJ ( NP ( NNP First ) ( NNP Executive ) ) ( CC and ) ( NP ( NP ( VBD troubled ) ( NNP Valley ) ( NNP National ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NNP Arizona ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ next ) ( PP-LOC ( IN in ) ( NP ( NN line ) ) ) ) ) )

First Executive and troubled Valley National Corp. of Arizona were next in line


( S ( NP-SBJ ( JJ Short ) ( NN selling ) ) ( VP ( VBZ is ) ( RB n't ) ( ADVP ( RB necessarily ) ) ( ADJP-PRD ( JJ bad ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ overall ) ( NN market ) ) ) ) )

Short selling is n't necessarily bad for the overall market


( S ( NP-SBJ-1 ( JJ Shorted ) ( NNS shares ) ) ( VP ( MD must ) ( ADVP-TMP ( RB eventually ) ) ( VP ( VB be ) ( VP ( VBN replaced ) ( PP ( IN through ) ( NP ( NN buying ) ) ) ) ) ) )

Shorted shares must eventually be replaced through buying


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( NP ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( JJ short ) ( NN interest ) ) ) ( PP-LOC ( IN in ) ( NP ( DT some ) ( NNS stocks ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN caused ) ( PP ( IN by ) ( NP-LGS ( NN arbitrage ) ) ) ) ) ) )

In addition changes in short interest in some stocks may be caused by arbitrage


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ-1 ( DT an ) ( NN investor ) ) ( VP ( MD may ) ( VP ( VB seek ) ( S ( VP ( TO to ) ( VP ( VB profit ) ( PP-TMP ( IN during ) ( NP ( DT some ) ( NN takeover ) ( NNS situations ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG buying ) ( NP ( NP ( NN stock ) ) ( PP ( IN in ) ( NP ( NP ( CD one ) ( NN company ) ) ( ADJP ( VBN involved ) ) ) ) ) ) ( CC and ) ( VP ( VBG shorting ) ( NP ( NP ( DT the ) ( NN stock ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ other ) ) ) ) ) ) ) ) ) ) ) ) ) )

For example an investor may seek to profit during some takeover situations by buying stock in one company involved and shorting the stock of the other


( S ( NP-SBJ ( NP ( CD Two ) ( JJ big ) ( NNS stocks ) ) ( ADJP ( VBN involved ) ( PP ( IN in ) ( NP ( NN takeover ) ( NN activity ) ) ) ) ) ( VP ( VBD saw ) ( S ( NP-SBJ ( PRP$ their ) ( JJ short ) ( NN interest ) ) ( VP ( NN surge ) ) ) ) )

Two big stocks involved in takeover activity saw their short interest surge


( S ( NP-SBJ ( NP ( JJ Short ) ( NN interest ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJ American ) ( JJ depositary ) ( NNS receipts ) ) ( PP ( IN of ) ( NP ( NP ( NNP Jaguar ) ) ( NP ( NP ( DT the ) ( NN target ) ) ( PP ( IN of ) ( NP ( DT both ) ( NP ( NNP Ford ) ( NNP Motor ) ) ( CC and ) ( NP ( NNP General ) ( NNP Motors ) ) ) ) ) ) ) ) ) ) ( VP ( ADVP ( RBR more ) ( IN than ) ) ( VBD doubled ) ) )

Short interest in the American depositary receipts of Jaguar the target of both Ford Motor and General Motors more than doubled


( S ( NP-SBJ ( NP ( NNP Nasdaq ) ( NNS stocks ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD showed ) ( NP ( NP ( DT a ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( JJ short ) ( NN interest ) ) ) ) ) ) ) ) ( VP ( VBD included ) ( NP ( NP ( NNP Adobe ) ( NNP Systems ) ) ( NP ( NP ( NNP Class ) ( NNP A ) ( NNS shares ) ) ( PP ( IN of ) ( NP ( NNP Tele-Communications ) ) ) ) ( CC and ) ( NP ( NP ( NN takeover ) ( NNS targets ) ) ( NP ( NNP Lyphomed ) ( CC and ) ( NNP Jerrico ) ) ) ) ) )

Nasdaq stocks that showed a drop in short interest included Adobe Systems Class A shares of Tele-Communications and takeover targets Lyphomed and Jerrico


( S ( NP-SBJ ( NP ( DT The ) ( NNP NASD ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ operates ) ( NP ( NP ( DT the ) ( NNP Nasdaq ) ( NN computer ) ( NN system ) ) ( SBAR ( WHPP-4 ( IN on ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( CD 5,200 ) ( NNP OTC ) ( NNS issues ) ) ( VP ( NN trade ) ) ) ) ) ) ) ) ) ( VP ( VBZ compiles ) ( NP ( NP ( JJ short ) ( NN interest ) ( NNS data ) ) ( PP-LOC ( IN in ) ( NP ( NP ( CD two ) ( NNS categories ) ) ( NP ( NP ( NP ( DT the ) ( ADJP ( ADJP ( RB approximately ) ( NNS two-thirds ) ) ( CC and ) ( ADJP ( RB generally ) ( JJS biggest ) ) ) ( NNP Nasdaq ) ( NNS stocks ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP trade ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP National ) ( NNP Market ) ( NNP System ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( ADJP ( ADJP ( NN one-third ) ) ( CC and ) ( ADJP ( RB generally ) ( JJR smaller ) ) ) ( NNP Nasdaq ) ( NNS stocks ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP are ) ( RB n't ) ( NP-PRD ( NP ( DT a ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN system ) ) ) ) ) ) ) ) ) ) ) ) ) )

The NASD which operates the Nasdaq computer system on which 5,200 OTC issues trade compiles short interest data in two categories the approximately two-thirds and generally biggest Nasdaq stocks that trade on the National Market System and the one-third and generally smaller Nasdaq stocks that are n't a part of the system


( S ( NP-SBJ ( NP ( JJ Short ) ( NN interest ) ) ( PP ( IN in ) ( NP ( CD 1,327 ) ( JJ non-NMS ) ( NNS securities ) ) ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 40.3 ) ( CD million ) ) ( NNS shares ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( RB almost ) ( CD 38 ) ( CD million ) ) ( NNS shares ) ) ( PP-LOC ( IN in ) ( NP ( CD 1,310 ) ( NNS issues ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ) )

Short interest in 1,327 non-NMS securities totaled 40.3 million shares compared with almost 38 million shares in 1,310 issues in September


( S ( NP-SBJ ( DT The ) ( NNP October ) ( JJ short ) ( NN interest ) ) ( VP ( VBZ represents ) ( NP ( NP ( CD 1.04 ) ( NNS days ) ) ( PP ( IN of ) ( NP ( NP ( JJ average ) ( JJ daily ) ( NN trading ) ( NN volume ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJR smaller ) ( NNS stocks ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN system ) ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN reporting ) ( NN period ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 0.94 ) ( NN day ) ) ( ADVP-TMP ( NP ( DT a ) ( NN month ) ) ( RB ago ) ) ) ) ) ) ) )

The October short interest represents 1.04 days of average daily trading volume in the smaller stocks in the system for the reporting period compared with 0.94 day a month ago


( S ( PP-LOC ( IN Among ) ( NP ( JJR bigger ) ( NNP OTC ) ( NNS stocks ) ) ) ( NP-SBJ ( DT the ) ( NNS figures ) ) ( VP ( VBP represent ) ( NP ( NP ( NP ( CD 2.05 ) ( NNS days ) ) ( PP ( IN of ) ( NP ( JJ average ) ( JJ daily ) ( NN volume ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 2.14 ) ( NNS days ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ) ) )

Among bigger OTC stocks the figures represent 2.05 days of average daily volume compared with 2.14 days in September


( S ( NP-SBJ ( DT The ) ( JJ adjacent ) ( NNS tables ) ) ( VP ( VBP show ) ( NP ( NP ( DT the ) ( NNS issues ) ) ( SBAR ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ short ) ( NN interest ) ( NN position ) ) ( PP ( IN of ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 50,000 ) ) ( NNS shares ) ) ) ) ( VP ( VBD existed ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Oct. ) ( CD 13 ) ) ) ) ) ) ) ( CC or ) ( SBAR ( WHPP-2 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ short ) ( NN position ) ( NN change ) ) ( PP ( IN of ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 25,000 ) ) ( NNS shares ) ) ) ( PP-TMP ( IN since ) ( NP ( NNP Sept. ) ( CD 15 ) ) ) ) ) ) ) ) ) ( PRN ( S ( VP ( VB see ) ( NP ( NP ( JJ accompanying ) ( NNS tables ) ) ( NP-LOC ( NNP WSJ ) ( NNP Oct. ) ( CD 25 ) ( CD 1989 ) ) ) ) ) ) ) )

The adjacent tables show the issues in which a short interest position of at least 50,000 shares existed as of Oct. 13 or in which there was a short position change of at least 25,000 shares since Sept. 15 see accompanying tables WSJ Oct. 25 1989


( S ( NP-TMP ( RB Early ) ( DT this ) ( NN century ) ) ( NP-SBJ ( NP ( NN diamond ) ( NN mining ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ magnificent ) ( NNS dunes ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( DT the ) ( NNP Namib ) ( NNP Desert ) ) ( VP ( VBZ meets ) ( NP ( DT the ) ( NNP Atlantic ) ( NNP Ocean ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN day ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN beach ) ) ) ) ) )

Early this century diamond mining in the magnificent dunes where the Namib Desert meets the Atlantic Ocean was a day at the beach


( S ( NP-SBJ-1 ( NN Men ) ) ( VP ( MD would ) ( VP ( VB crawl ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN sand ) ) ) ( S-ADV ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( JJ shiny ) ( NNS stones ) ) ) ) ) ) ) )

Men would crawl in the sand looking for shiny stones


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB as ) ( JJ easy ) ( PP ( IN as ) ( S-NOM ( VP ( VBG collecting ) ( NP ( NN sea ) ( NNS shells ) ) ( PP-LOC ( IN at ) ( NP ( NNP Malibu ) ) ) ) ) ) ) ) )

It was as easy as collecting sea shells at Malibu


( S ( NP-SBJ-1 ( NN Men ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB still ) ) ( VP ( VBG combing ) ( NP ( DT the ) ( NN beach ) ) ( PP ( IN with ) ( NP ( NP ( NNS shovels ) ) ( CC and ) ( NP ( NN hand ) ( NNS brushes ) ) ) ) ( S-ADV ( VP ( VBG searching ) ( PP-CLR ( IN for ) ( NP ( DT that ) ( JJ unusual ) ( NN glint ) ) ) ) ) ) ) )

Men are still combing the beach with shovels and hand brushes searching for that unusual glint


( FRAG ( CC But ) ( SBAR-TMP ( ADVP ( RB only ) ) ( IN after ) ( S ( NP-SBJ ( NP ( NP ( DT a ) ( NN fleet ) ) ( PP ( IN of ) ( NP ( CD 336 ) ( JJ gargantuan ) ( JJ earthmoving ) ( NNS vehicles ) ) ) ) ( VP ( VBG belonging ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP De ) ( NNP Beers ) ( NNP Consolidated ) ( NNP Mines ) ( NNP Ltd. ) ) ( NP ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( NN diamond ) ( NNS kingpins ) ) ) ) ) ) ( VP ( VBP do ) ( NP ( PRP$ their ) ( NN work ) ) ) ) ) )

But only after a fleet of 336 gargantuan earthmoving vehicles belonging to De Beers Consolidated Mines Ltd. the world 's diamond kingpins do their work


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ-1 ( NP ( QP ( CD 43 ) ( CD million ) ) ( NNS tons ) ) ( PP ( IN of ) ( NP ( NN desert ) ) ) ) ( VP ( VBD were ) ( VP ( VBN moved ) ( PP-DIR ( IN from ) ( NP ( CD one ) ( NN dune ) ) ) ( PP-DIR ( TO to ) ( NP ( DT another ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB recover ) ( NP ( NP ( CD 934,242 ) ( NNS carats ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ comes ) ( PP-CLR ( TO to ) ( NP ( NP ( CD 46 ) ( NNS tons ) ) ( PP ( IN of ) ( NP ( NN sand ) ) ) ( PP ( IN per ) ( NP ( NP ( NN carat ) ) ( CC or ) ( NP ( JJ one-fifth ) ( NN gram ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Last year 43 million tons of desert were moved from one dune to another to recover 934,242 carats which comes to 46 tons of sand per carat or one-fifth gram


( S ( INTJ ( UH Oh ) ) ( INTJ ( UH yes ) ) ( NP-SBJ-1 ( DT the ) ( NNP Atlantic ) ) ( VP ( VBD was ) ( ADVP ( RB also ) ) ( VP ( VBN pushed ) ( PRT ( RP back ) ) ( NP-ADV ( CD 300 ) ( NNS yards ) ) ) ) )

Oh yes the Atlantic was also pushed back 300 yards


( S ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( EX there ) ) ( VP ( POS 's ) ( NP-PRD ( NNS diamonds ) ) ( ADVP-LOC ( RB out ) ( RB there ) ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( MD 'll ) ( VP ( VB get ) ( PP-CLR ( TO to ) ( NP ( PRP them ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Les ) ( NNP Johns ) ) ( NP ( NP ( NNP De ) ( NNP Beers ) ( POS 's ) ) ( NN engineering ) ( NN manager ) ) ) )

If there 's diamonds out there we 'll get to them says Les Johns De Beers 's engineering manager


( SINV ( ADVP-LOC ( RB Here ) ) ( S-ADV ( VP ( VBN wedged ) ( PP-LOC-CLR ( IN between ) ( NP ( NP ( VBG shifting ) ( NNS dunes ) ) ( CC and ) ( NP ( VBG pounding ) ( NNS waves ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN world ) ( VBZ 's ) ) ( ADJP ( RBS most ) ( JJ inhospitable ) ) ( NN diamond ) ( NN dig ) ) ) ) ) ( VP ( VBZ lies ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NN earth ) ( VBZ 's ) ) ( RBS most ) ( JJ precious ) ( NN jewel ) ( NN box ) ) )

Here wedged between shifting dunes and pounding waves at the world 's most inhospitable diamond dig lies the earth 's most precious jewel box


( S ( NP-ADV ( NP ( NNS Thanks ) ) ( PP ( TO to ) ( NP ( NP ( NNS centuries ) ) ( PP ( IN of ) ( NP ( NP ( NP ( VBG polishing ) ) ( PP ( IN by ) ( NP ( NNP Mother ) ( NNP Nature ) ) ) ) ( PRN ( PP ( ADVP-TMP ( RB first ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ gentle ) ( NN current ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Orange ) ( NNP River ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD carried ) ( NP ( DT the ) ( NNS stones ) ) ( PP-DIR ( IN from ) ( NP ( NP ( NNP South ) ( NNP Africa ) ( POS 's ) ) ( NN interior ) ) ) ) ) ) ) ) ( ADVP-TMP ( RB then ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ cold ) ( NN surf ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN ocean ) ) ) ) ) ( CC and ) ( ADVP-TMP ( RB finally ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ coarse ) ( NNS sands ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN desert ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( CD 98 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS diamonds ) ) ( VP ( VBN uncovered ) ) ) ) ) ( VP ( VBP are ) ( PP-PRD ( IN of ) ( NP ( NN gem ) ( NN quality ) ) ) ) )

Thanks to centuries of polishing by Mother Nature first in the gentle current of the Orange River that carried the stones from South Africa 's interior then in the cold surf of the ocean and finally in the coarse sands of the desert 98 % of the diamonds uncovered are of gem quality


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( JJ other ) ( NNS mines ) ) ( VP ( MD might ) ( VP ( VB yield ) ( NP ( JJR more ) ( NNS carats ) ) ) ) ) ) ( NP-SBJ ( NP ( DT a ) ( JJR higher ) ( NN percentage ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( VP ( VBP go ) ( PP-DIR ( TO to ) ( NP ( JJ industrial ) ( NN use ) ) ) ) )

While other mines might yield more carats a higher percentage of them go to industrial use


( S ( SBAR-PRP ( IN Since ) ( S ( NP-SBJ-2 ( DT this ) ( NN treasure ) ( NN chest ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB too ) ( JJ big ) ( S ( VP ( TO to ) ( VP ( VB fit ) ( PP-LOC-CLR ( IN in ) ( NP ( DT a ) ( NN bank ) ( NN vault ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN turned ) ( PP-CLR ( IN into ) ( NP ( NN one ) ) ) ) ) ) )

Since this treasure chest is too big to fit in a bank vault it has been turned into one


( S ( SBAR-TMP ( NP ( NNS Months ) ) ( IN after ) ( S ( NP-SBJ ( NN railway ) ( NN worker ) ( NNP Zacharias ) ( NNP Lewala ) ) ( ADVP-TMP ( RB first ) ) ( VP ( VBD picked ) ( PRT ( RP up ) ) ( NP ( DT a ) ( NN diamond ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN sand ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1908 ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ German ) ( NNS colonialists ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD controlled ) ( NP ( NNP Namibia ) ) ) ) ) ) ( VP ( VBD proclaimed ) ( S ( NP-SBJ ( NP ( NP ( DT a ) ( JJ wide ) ( NN swath ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN desert ) ) ) ) ( PRN ( ADVP ( ADVP ( NP ( QP ( RB about ) ( CD 200 ) ) ( NNS miles ) ) ( RB north ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Orange ) ( NNP River ) ) ) ) ( CC and ) ( ADVP ( NP ( CD 60 ) ( NNS miles ) ) ( RB inland ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Atlantic ) ) ) ) ) ) ) ( NP-PRD ( NP ( DT a ) ( JJ restricted ) ( NN area ) ) ( NP ( NP ( DT a ) ( NN designation ) ) ( VP ( ADVP-TMP ( RB normally ) ) ( VBN reserved ) ( PP-CLR ( IN for ) ( NP ( JJ military ) ( NNS operations ) ) ) ) ) ) ) ) )

Months after railway worker Zacharias Lewala first picked up a diamond from the sand in 1908 the German colonialists who controlled Namibia proclaimed a wide swath of the desert about 200 miles north from the Orange River and 60 miles inland from the Atlantic a restricted area a designation normally reserved for military operations


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( DT the ) ( NNPS Germans ) ) ( VP ( VBD lost ) ( NP ( NNP World ) ( NNP War ) ( NNP I ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VP ( VBD lost ) ( NP-2 ( NNP Namibia ) ) ( PP-CLR-3 ( TO to ) ( NP ( NNP South ) ( NNP Africa ) ) ) ) ( CC and ) ( VP ( NP=2 ( DT the ) ( NNS diamonds ) ) ( PP-CLR=3 ( TO to ) ( NP ( NP ( NNP Ernest ) ( NNP Oppenheimer ) ) ( NP ( NP ( NN patriarch ) ) ( PP ( IN of ) ( NP ( NP ( NNP Anglo ) ( NNP American ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP De ) ( NNP Beers ) ) ) ) ) ) ) ) ) )

When the Germans lost World War I they lost Namibia to South Africa and the diamonds to Ernest Oppenheimer patriarch of Anglo American Corp. and De Beers


( S ( NP-TMP ( NN Today ) ) ( NP-SBJ ( DT no ) ( NN one ) ) ( VP ( VBZ gets ) ( ADVP-DIR ( IN in ) ( CC or ) ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( JJ restricted ) ( NN area ) ) ) ) ( PP ( IN without ) ( NP ( NP ( NNP De ) ( NNP Beers ) ( POS 's ) ) ( JJ stingy ) ( NN approval ) ) ) ) )

Today no one gets in or out of the restricted area without De Beers 's stingy approval


( S ( NP-SBJ ( DT The ) ( NN mining ) ( NN zone ) ) ( VP ( VBZ has ) ( ADVP ( RB thus ) ) ( VP ( VBN remained ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ desolate ) ) ( NNS places ) ) ( PP-LOC ( IN in ) ( NP ( NNP Africa ) ) ) ) ) ) ) ) )

The mining zone has thus remained one of the most desolate places in Africa


( S ( NP-SBJ-1 ( NN Ghost ) ( NNS towns ) ) ( VP ( VBP dot ) ( NP ( DT the ) ( NNP Namib ) ( NNS dunes ) ) ( S-ADV ( VP ( VBG proving ) ( SBAR ( S ( NP-SBJ ( NNS diamonds ) ) ( VP ( VBP are ) ( RB n't ) ( ADVP-PRD ( RB forever ) ) ) ) ) ) ) ) )

Ghost towns dot the Namib dunes proving diamonds are n't forever


( S ( NP-SBJ ( NP ( NNP Oranjemund ) ) ( NP ( DT the ) ( JJ mine ) ( NN headquarters ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ lonely ) ( JJ corporate ) ( NN oasis ) ) ( PP ( IN of ) ( NP ( CD 9,000 ) ( NNS residents ) ) ) ) ) )

Oranjemund the mine headquarters is a lonely corporate oasis of 9,000 residents


( S ( S ( NP-SBJ ( NNS Jackals ) ) ( VP ( VBP roam ) ( NP ( DT the ) ( NNS streets ) ) ( PP-TMP ( IN at ) ( NP ( NN night ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( NNS gemsbok ) ) ( NP ( NP ( JJ hardy ) ( NNS antelope ) ) ( PP ( IN with ) ( NP ( JJ long ) ( JJ straight ) ( NNS horns ) ) ) ) ) ( VP ( VBP wander ) ( ADVP-DIR ( IN in ) ( PP ( IN from ) ( NP ( DT the ) ( NN desert ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB drink ) ( PP-CLR ( IN from ) ( NP ( NN water ) ( NNS sprinklers ) ) ) ) ) ) ) ) )

Jackals roam the streets at night and gemsbok hardy antelope with long straight horns wander in from the desert to drink from water sprinklers


( S ( PP-TMP ( IN On ) ( NP ( JJS most ) ( NNS days ) ) ) ( NP-SBJ-1 ( NP ( NP ( DT the ) ( NN desert ) ( POS 's ) ) ( NN heat ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN cool ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN ocean ) ) ) ) ) ( VP ( VBP combine ) ( S-CLR ( VP ( TO to ) ( VP ( VB create ) ( NP ( NP ( DT a ) ( NN mist ) ) ( PP ( IN like ) ( NP ( DT a ) ( JJ damp ) ( NN rag ) ) ) ) ) ) ) ) )

On most days the desert 's heat and the cool of the ocean combine to create a mist like a damp rag


( S ( NP-SBJ-2 ( DT The ) ( NN wind ) ) ( S-ADV ( VP ( JJ stinging ) ( PP ( IN with ) ( NP ( NN sand ) ) ) ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBZ seems ) ( S ( VP ( TO to ) ( VP ( VB stop ) ) ) ) ) )

The wind stinging with sand never seems to stop


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NP ( NP ( NNS miners ) ) ( PP ( IN from ) ( NP ( NP ( DT all ) ( NNS parts ) ) ( PP ( IN of ) ( NP ( NNP Namibia ) ) ) ) ) ) ( RB as ) ( RB well ) ( IN as ) ( NP ( NP ( JJ professional ) ( NN staff ) ) ( PP ( IN from ) ( NP ( NP ( NP ( NNP De ) ( NNP Beers ) ( POS 's ) ) ( NN head ) ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP South ) ( NNP Africa ) ) ( CC and ) ( NP ( NNP London ) ) ) ) ) ) ) ) ( VP ( VBP keep ) ( VP ( VBG coming ) ) ) )

Still miners from all parts of Namibia as well as professional staff from De Beers 's head offices in South Africa and London keep coming


( S ( CC And ) ( NP-SBJ ( NNP Oranjemund ) ) ( VP ( VBZ boasts ) ( NP ( NP ( NNS attractions ) ) ( PP ( IN besides ) ( NP ( NNS diamonds ) ) ) ) ) )

And Oranjemund boasts attractions besides diamonds


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( CD six ) ( JJ video ) ( JJ rental ) ( NNS shops ) ) ( NP ( CD three ) ( NNS restaurants ) ) ( NP ( CD one ) ( NN cinema ) ) ( CC and ) ( NP ( NP ( CD 34 ) ( NNS sports ) ( CC and ) ( NN recreation ) ( NNS clubs ) ) ( PP ( IN for ) ( NP ( NP ( NN everything ) ) ( PP ( PP ( IN from ) ( NP ( NN cricket ) ) ) ( PP ( TO to ) ( NP ( NN lawn ) ( NN bowling ) ) ) ) ) ) ) ) ) )

There are six video rental shops three restaurants one cinema and 34 sports and recreation clubs for everything from cricket to lawn bowling


( S ( NP-SBJ ( NP ( DT The ) ( NN pride ) ) ( PP ( IN of ) ( NP ( NNP Oranjemund ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ 18-hole ) ( NN golf ) ( NN course ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN sand ) ( NN trap ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) )

The pride of Oranjemund is the 18-hole golf course with the largest sand trap in the world


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-3 ( DT the ) ( VBG rising ) ( NNP Orange ) ( NNP River ) ) ( VP ( VBD threatened ) ( S ( VP ( TO to ) ( VP ( VB swamp ) ( NP ( DT the ) ( NN course ) ) ) ) ) ) ) ) ( NP-SBJ-4 ( NP ( DT the ) ( JJ same ) ( NNS engineers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBG pushing ) ( PRT ( RP back ) ) ( NP ( DT the ) ( NNP Atlantic ) ) ) ) ) ) ) ( VP ( VBD rushed ) ( S-CLR ( VP ( TO to ) ( VP ( VB build ) ( NP ( NP ( DT a ) ( NN wall ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB hold ) ( PRT ( RP back ) ) ( NP ( DT the ) ( NN flood ) ) ) ) ) ) ) ) ) ) ) )

Last year when the rising Orange River threatened to swamp the course the same engineers who are pushing back the Atlantic rushed to build a wall to hold back the flood


( SINV ( S-TPC-1 ( NP-SBJ ( NN Nothing ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB too ) ( JJ good ) ) ( PP ( IN for ) ( NP ( PRP$ our ) ( NN golf ) ( NN course ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Tony ) ( NNP George ) ) ( NP ( DT a ) ( NN mining ) ( NN engineer ) ) ) )

Nothing is too good for our golf course says Tony George a mining engineer


( S ( PP ( IN Despite ) ( NP ( NNS fears ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN mine ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB partially ) ) ( VBN nationalized ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ new ) ( JJ Namibian ) ( NN government ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( NP ( JJ next ) ( NN month ) ( POS 's ) ) ( NNS elections ) ) ( VP ( VBG freeing ) ( NP ( DT the ) ( NN country ) ) ( PP-CLR ( IN from ) ( NP ( ADJP ( JJ South ) ( JJ African ) ) ( NN control ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP De ) ( NNP Beers ) ( NNS engineers ) ) ( VP ( VBP are ) ( VP ( VBG working ) ( S-CLR ( VP ( TO to ) ( VP ( VB extend ) ( NP ( NP ( DT the ) ( NN mine ) ( POS 's ) ) ( JJ productive ) ( NN life ) ) ( PP-CLR ( IN for ) ( NP ( DT another ) ( CD 25 ) ( NNS years ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ current ) ( NN estimate ) ) ( PP ( IN of ) ( NP ( CD 10 ) ) ) ) ) ) ) ) ) ) )

Despite fears the mine may be partially nationalized by the new Namibian government following next month 's elections freeing the country from South African control De Beers engineers are working to extend the mine 's productive life for another 25 years from the current estimate of 10


( S ( NP-SBJ ( NP ( JJ Huge ) ( NNS machines ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP look ) ( SBAR ( IN as ) ( IN though ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD came ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NNP Star ) ( NNP Wars ) ( JJ desert-battle ) ( NN scene ) ) ) ) ) ) ) ) ) ) ( VP ( VBP lumber ) ( PP-LOC ( IN among ) ( NP ( DT the ) ( NNS dunes ) ) ) ) )

Huge machines that look as though they came from the Star Wars desert-battle scene lumber among the dunes


( S ( S ( NP-SBJ ( JJ Mechanized ) ( NN vacuum ) ( NNS cleaners ) ) ( VP ( VBP probe ) ( NP ( DT the ) ( NN sand ) ) ( PP-MNR ( IN like ) ( NP ( JJ giant ) ( NNS anteaters ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT a ) ( VBG whirring ) ( ADJP ( JJ ferris ) ( JJ wheellike ) ) ( NN excavator ) ) ( PP ( IN with ) ( NP ( NP ( NNS buckets ) ) ( CONJP ( RB instead ) ( IN of ) ) ( NP ( NNS seats ) ) ) ) ) ( VP ( NNS chews ) ( PP-DIR ( IN through ) ( NP ( NP ( NNS layers ) ) ( PP ( IN of ) ( NP ( JJ compacted ) ( NN sand ) ) ) ) ) ) ) ( S ( NP-SBJ-1 ( NP ( NNS tracks ) ) ( CC and ) ( NP ( NN conveyor ) ( NNS belts ) ) ) ( S-ADV ( VP ( VBG shuttling ) ( NP ( NN sand ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN screening ) ( NNS plants ) ) ) ) ) ( VP ( VBP criss-cross ) ( NP ( DT the ) ( NN beach ) ) ) ) )

Mechanized vacuum cleaners probe the sand like giant anteaters a whirring ferris wheellike excavator with buckets instead of seats chews through layers of compacted sand tracks and conveyor belts shuttling sand to the screening plants criss-cross the beach


( S ( RB Then ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ artifical ) ( NN sea ) ( NN wall ) ) ( ADJP ( ADJP ( NP-ADV ( CD 600 ) ( NNS yards ) ) ( JJ long ) ) ( CC and ) ( ADJP ( NP-ADV ( CD 60 ) ( NNS yards ) ) ( JJ thick ) ) ) ( VP ( VBG jutting ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN ocean ) ) ) ) ) ) )

Then there is the artifical sea wall 600 yards long and 60 yards thick jutting into the ocean


( S ( S ( VP ( VBN Made ) ( PP-CLR ( IN of ) ( NP ( NN sand ) ) ) ) ) ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ receives ) ( NP ( NP ( JJ around-the-clock ) ( NN maintainence ) ) ( PP ( IN against ) ( NP ( DT the ) ( VBG battering ) ( NNS waves ) ) ) ) ) )

Made of sand it receives around-the-clock maintainence against the battering waves


( S ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NN mining ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN front ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN wall ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ complete ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBN moved ) ( ADVP-DIR ( RB northward ) ) ) ) )

When the mining in front of the wall is complete it is moved northward


( S ( NP-SBJ ( NP ( DT A ) ( NN companion ) ( NN jetty ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ helps ) ( S ( VP ( VB hold ) ( PRT ( RP back ) ) ( NP ( DT the ) ( NN sea ) ) ) ) ) ) ) ) ( VP ( VBZ looks ) ( PP-CLR ( IN like ) ( NP ( DT a ) ( JJ rusting ) ( NN junkyard ) ) ) ) )

A companion jetty that helps hold back the sea looks like a rusting junkyard


( S ( NP-SBJ-1 ( NNS Engineers ) ) ( ADVP-TMP ( RB first ) ) ( VP ( VBD used ) ( NP ( NN concrete ) ( NNS blocks ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( DT the ) ( NN barrier ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN ocean ) ) ( VP ( VBD tossed ) ( NP ( PRP them ) ) ( ADVP-DIR ( RP aside ) ) ( PP-MNR ( IN like ) ( FRAG ( NP ( NN driftwood ) ) ) ) ) ) )

Engineers first used concrete blocks to bolster the barrier but the ocean tossed them aside like driftwood


( S ( RB Then ) ( NP-SBJ-2 ( NN someone ) ) ( VP ( VBD decided ) ( S ( VP ( TO to ) ( VP ( VB try ) ( NP ( NP ( JJ broken-down ) ( JJ earthmoving ) ( NN equipment ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP ( RB inexplicably ) ) ( VP ( VBD held ) ( PP-CLR ( IN against ) ( NP ( DT the ) ( NNS waves ) ) ) ) ) ) ) ) ) ) ) )

Then someone decided to try broken-down earthmoving equipment that inexplicably held against the waves


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNP Caterpillar ) ( NNS people ) ) ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( RB too ) ( JJ happy ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP see ) ( S ( NP-SBJ-3 ( PRP$ their ) ( NN equipment ) ) ( VP ( VBN used ) ( PP-MNR ( IN like ) ( NP ( DT that ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ shrugs ) ) ( NP-SBJ ( NNP Mr. ) ( NNP George ) ) )

The Caterpillar people are n't too happy when they see their equipment used like that shrugs Mr. George


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP figure ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( RB not ) ( NP-PRD ( DT a ) ( ADJP ( RB very ) ( JJ good ) ) ( NN advert ) ) ) ) ) ) )

They figure it 's not a very good advert


( S ( PP ( IN Despite ) ( NP ( PDT all ) ( DT these ) ( NNS innovations ) ) ) ( NP-SBJ-2 ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS diamonds ) ) ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB still ) ) ( VP ( VBN found ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN sand ) ) ( VP ( VBN swept ) ( ADVP-DIR ( RB away ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNS men ) ) ( VP ( VBG wielding ) ( NP ( NP ( NNS shovels ) ( CC and ) ( NNS brushes ) ) ( NP ( NP ( DT the ) ( ADJP ( RB ignominiously ) ( VBN named ) ) ( NN bedrock ) ( NNS sweepers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP toil ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN wake ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS excavators ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Despite all these innovations most of the diamonds are still found in the sand swept away by the men wielding shovels and brushes the ignominiously named bedrock sweepers who toil in the wake of the excavators


( S ( S-ADV ( VP ( VBG Laboring ) ( PP ( IN in ) ( NP ( ADJP ( JJ blue ) ( CC and ) ( JJ gray ) ) ( NNS overalls ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBN supposed ) ( S ( VP ( VP ( TO to ) ( VP ( VB concentrate ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG cleaning ) ( PRT ( RP out ) ) ( NP ( NNS crevices ) ) ) ) ) ) ) ( CC and ) ( RB not ) ( VP ( VB strain ) ( NP ( PRP$ their ) ( NNS eyes ) ) ( S-ADV ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NNS diamonds ) ) ) ) ) ) ) ) ) ) )

Laboring in blue and gray overalls they are supposed to concentrate on cleaning out crevices and not strain their eyes looking for diamonds


( S ( CC But ) ( SBAR-ADV ( SINV ( MD should ) ( NP-SBJ ( PRP they ) ) ( VP ( VB spy ) ( NP ( CD one ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD will ) ( VP ( VB pay ) ( NP ( NP ( DT a ) ( NN bonus ) ) ( ADJP ( JJ equal ) ( PP ( TO to ) ( NP ( NN one-third ) ( PRP$ its ) ( NN value ) ) ) ) ) ) ) )

But should they spy one the company will pay a bonus equal to one-third its value


( S ( PP ( IN For ) ( NP ( NP ( DT these ) ( NNS workers ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN bottom ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN mine ) ( POS 's ) ) ( NN pay ) ( NN scale ) ) ) ) ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB usually ) ) ( NP-PRD ( JJ enough ) ( S ( VP ( TO to ) ( VP ( VB overcome ) ( NP ( DT the ) ( NN temptation ) ( S ( VP ( TO to ) ( VP ( VB steal ) ( PRN ( NP ( NP ( DT a ) ( NN crime ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB earn ) ( NP ( PRP them ) ) ( NP ( NP ( QP ( IN up ) ( TO to ) ( CD 15 ) ) ( NNS years ) ) ( PP-LOC ( IN in ) ( NP ( NN jail ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

For these workers at the bottom of the mine 's pay scale this is usually enough to overcome the temptation to steal a crime that could earn them up to 15 years in jail


( S ( ADVP ( RB Still ) ) ( NP-SBJ-1 ( NNS employees ) ) ( VP ( VBP do ) ( ADVP-TMP ( RB occasionally ) ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB smuggle ) ( PRT ( RP out ) ) ( NP ( DT a ) ( NN gem ) ( QP ( CC or ) ( CD two ) ) ) ) ) ) ) ) )

Still employees do occasionally try to smuggle out a gem or two


( S ( NP-SBJ ( CD One ) ( NN man ) ) ( VP ( VBD wrapped ) ( NP ( JJ several ) ( NNS diamonds ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN knot ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NN tie ) ) ) ) ) ) )

One man wrapped several diamonds in the knot of his tie


( S ( NP-SBJ ( DT Another ) ) ( VP ( VBD poked ) ( NP ( DT a ) ( NN hole ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN heel ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NN shoe ) ) ) ) ) ) )

Another poked a hole in the heel of his shoe


( S ( NP-SBJ ( DT A ) ( NN food ) ( NN caterer ) ) ( VP ( VBD stashed ) ( NP ( NNS stones ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ false ) ( NN bottom ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN milk ) ( NN pail ) ) ) ) ) ) )

A food caterer stashed stones in the false bottom of a milk pail


( S ( NP-SBJ ( NN None ) ) ( VP ( VBD made ) ( NP-CLR ( PRP it ) ) ( PP-CLR ( IN past ) ( NP ( DT the ) ( NN body ) ( NNS searches ) ( CC and ) ( NNS X-rays ) ) ( PP ( IN of ) ( NP ( JJ mine ) ( NN security ) ) ) ) ) )

None made it past the body searches and X-rays of mine security


( S ( NP-SBJ ( NP ( NNP Dunkin ) ( NNP Donuts ) ( NNP Inc. ) ) ( VP ( VBG battling ) ( NP ( NP ( DT a ) ( NN takeover ) ( NN proposal ) ) ( PP ( IN by ) ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( NNP DD ) ( NNP Acquisition ) ( NNP Corp. ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ its ) ( NNS directors ) ) ( VP ( MD will ) ( VP ( VB evaluate ) ( NP ( NP ( NN takeover ) ( NNS offers ) ) ( VP ( VBN submitted ) ( PP-TMP ( IN by ) ( NP ( NNP Nov. ) ( CD 10 ) ) ) ) ) ) ) ) ) ) )

Dunkin Donuts Inc. battling a takeover proposal by Canada 's DD Acquisition Corp. said that its directors will evaluate takeover offers submitted by Nov. 10


( S ( NP-SBJ ( NP ( NNP Dunkin ) ( NNP Donuts ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Randolph ) ) ( NP ( NNP Mass. ) ) ) ) ) ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( MD would ) ( VP ( VB explore ) ( NP ( NP ( NNS alternatives ) ) ( PP ( VBG including ) ( NP ( NP ( DT a ) ( JJ leveraged ) ( NN buy-out ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN set ) ( NP ( NP ( DT a ) ( NN date ) ) ( PP ( IN for ) ( NP ( NP ( NN submission ) ) ( PP ( IN of ) ( NP ( NNS proposals ) ) ) ) ) ) ) ) ) ) ) ) )

Dunkin Donuts based in Randolph Mass. previously said it would explore alternatives including a leveraged buy-out of the company but had n't set a date for submission of proposals


( S ( S ( NP-SBJ ( NNP Dunkin ) ( NNP Donuts ) ( NNP Chairman ) ( CC and ) ( NNP Chief ) ( NNP Executive ) ( NNP Robert ) ( NNP M. ) ( NNP Rosenberg ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT a ) ( NN sale ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ( NN alternative ) ) ( VP ( VBG being ) ( VP ( VBN considered ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD added ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN board ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD decided ) ( SBAR ( IN whether ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( DT the ) ( NN doughnut ) ( NN franchiser ) ) ) ) ) ) ) ) ) ) ) ) )

Dunkin Donuts Chairman and Chief Executive Robert M. Rosenberg said a sale is one alternative being considered but he added the board has n't decided whether to sell the doughnut franchiser


( S ( NP-SBJ ( NP ( NNP DD ) ( NNP Acquisition ) ) ( VP ( ADVP-MNR ( RB jointly ) ) ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP Unicorp ) ( NNP Canada ) ( NNP Corp. ) ( POS 's ) ) ( NNP Kingsbridge ) ( NNP Capital ) ( NNP Group ) ( NN unit ) ) ( CC and ) ( NP ( NNP Cara ) ( NNP Operations ) ( NNP Ltd. ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN made ) ( NP ( NP ( DT a ) ( ADJP ( JJ 45-a-share ) ) ( NN tender ) ( NN offer ) ) ( VP ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 268 ) ( CD million ) ) ) ) ) ( PP ( IN for ) ( NP ( NNP Dunkin ) ( NNP Donuts ) ) ) ) ) ) )

DD Acquisition jointly owned by Unicorp Canada Corp. 's Kingsbridge Capital Group unit and Cara Operations Ltd. has made a 45-a-share tender offer valued at 268 million for Dunkin Donuts


( S ( NP-SBJ ( NP ( NNP Dunkin ) ( NNP Donuts ) ( POS ' ) ) ( NN announcement ) ) ( VP ( VBD followed ) ( NP ( NP ( NP ( NNP DD ) ( NNP Acquisition ) ( POS 's ) ) ( NN request ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNP Delaware ) ( NNP Court ) ) ( PP ( IN of ) ( NP ( NNP Chancery ) ) ) ) ) ) ( NP-TMP ( NNP Monday ) ) ( S-1 ( VP ( TO to ) ( VP ( VB set ) ( NP ( DT a ) ( NN trial ) ( NN date ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN suit ) ) ( PP ( IN against ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) )

Dunkin Donuts ' announcement followed DD Acquisition 's request to the Delaware Court of Chancery Monday to set a trial date for its suit against the company


( S ( NP-SBJ-1 ( DT The ) ( NN trial ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN postponed ) ( S-PRP ( VP ( TO to ) ( VP ( VB allow ) ( S ( NP-SBJ ( NNP Dunkin ) ( NNP Donuts ) ) ( VP ( TO to ) ( VP ( VB seek ) ( NP ( NP ( NNS alternatives ) ) ( PP ( TO to ) ( NP ( NP ( NNP DD ) ( NNP Acquisition ) ( POS 's ) ) ( NN offer ) ) ) ) ) ) ) ) ) ) ) ) ) )

The trial had been postponed to allow Dunkin Donuts to seek alternatives to DD Acquisition 's offer


( S ( NP-SBJ-3 ( NP-TTL ( DT The ) ( NNP Famous ) ( NNP Teddy ) ( NNP Z ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( NP-SBJ ( NNP CBS ) ( NNP Inc. ) ) ( VP ( VBD had ) ( VP ( VBN hoped ) ( SBAR ( S ( VP ( MD would ) ( VP ( VB emerge ) ( PP ( IN as ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ few ) ( JJ bright ) ( NNS spots ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( ADJP ( RB otherwise ) ( JJ lackluster ) ) ( NN prime-time ) ( NN schedule ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG turning ) ( PRT ( RP out ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NN hit ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN network ) ) ( VP ( VBD envisaged ) ) ) ) ) ) ) ) ) ) )

The Famous Teddy Z which CBS Inc. had hoped would emerge as one of the few bright spots in its otherwise lackluster prime-time schedule is n't turning out to be the hit the network envisaged


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ half-hour ) ( NN situation ) ( NN comedy ) ) ( VP ( VBN seen ) ( NP-TMP ( NNS Mondays ) ) ( PP-TMP ( IN at ) ( NP ( CD 9:30 ) ( RB p.m ) ( ADJP ( JJ Eastern ) ( CC and ) ( JJ Pacific ) ) ( NN time ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( NP ( DT a ) ( NN candidate ) ) ( PP ( IN for ) ( NP ( NN cancellation ) ) ) ) ) ) ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBN slated ) ( PP-CLR ( IN for ) ( NP ( NN fine-tuning ) ) ) ) ) ) ( CC and ) ( S ( PP-TMP ( IN by ) ( NP ( JJ next ) ( NN week ) ) ) ( NP-SBJ ( DT the ) ( NN network ) ) ( VP ( MD may ) ( VP ( VB announce ) ( SBAR ( S ( NP-TTL-SBJ-4 ( NNP Teddy ) ( NNP Z ) ) ( VP ( VBZ is ) ( VP ( VBG moving ) ( PP-DIR ( TO to ) ( NP ( CD 8:30 ) ( RB p.m. ) ) ) ( PP-DIR ( IN from ) ( NP ( PRP$ its ) ( CD 9:30 ) ( NN time ) ( NN slot ) ) ) ( S-ADV ( VP ( VBG replacing ) ( NP ( NP-TTL ( NNP The ) ( NNP People ) ( NNP Next ) ( NNP Door ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBD became ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ( NN network ) ( NN show ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN canceled ) ( NP-TMP ( DT this ) ( NN season ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Although the half-hour situation comedy seen Mondays at 9:30 p.m Eastern and Pacific time is n't a candidate for cancellation it is slated for fine-tuning and by next week the network may announce Teddy Z is moving to 8:30 p.m. from its 9:30 time slot replacing The People Next Door which became the first network show to be canceled this season


( S ( NP-SBJ-1 ( NP-TTL ( NNP Teddy ) ( NNP Z ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ centers ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN mailroom ) ( JJ clerk-turned ) ( NN agent ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( NNP Hollywood ) ( NN talent ) ( NN agency ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN scheduled ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( JJ coveted ) ( CD 9:30 ) ( NN p.m. ) ( NN slot ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB follow ) ( NP ( NP-TTL ( NNP Murphy ) ( NNP Brown ) ) ( NP ( NP ( DT a ) ( NN situation ) ( NN comedy ) ) ( PP ( IN about ) ( NP ( DT a ) ( NN television ) ( NN news ) ( NN magazine ) ) ) ( VP ( VBG starring ) ( NP ( NNP Candice ) ( NNP Bergen ) ) ) ) ) ) ) ) ) ) )

Teddy Z which centers on a mailroom clerk-turned agent at a Hollywood talent agency was scheduled in the coveted 9:30 p.m. slot to follow Murphy Brown a situation comedy about a television news magazine starring Candice Bergen


( S ( NP-TTL-SBJ-1 ( NNP Teddy ) ( NNP Z ) ) ( VP ( VBD was ) ( VP ( VBN boosted ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ favorable ) ( NNS reviews ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ network-wide ) ( JJ promotional ) ( JJ tie-in ) ( NN contest ) ) ( PP ( IN with ) ( NP ( NNP K ) ( NNP mart ) ( NNP Corp ) ) ) ) ) ) ) ) )

Teddy Z was boosted by favorable reviews and a network-wide promotional tie-in contest with K mart Corp


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VP ( VBD was ) ( VP ( VBN promoted ) ( PP-LOC ( IN on ) ( NP ( NP ( NN cable ) ( NNS services ) ) ( PP ( VBG including ) ( NP ( NP ( NNP MTV ) ) ( NP ( NP ( NNP Nick ) ) ( PP-TMP ( IN at ) ( NP ( NNP Night ) ) ) ) ( CC and ) ( NP ( NNP VH-1 ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD premiered ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( NN No. ) ( JJ 22-rated ) ( NN show ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN week ) ) ) ) ) ) ) )

It was promoted on cable services including MTV Nick at Night and VH-1 and premiered as the No. 22-rated show for the week


( S ( CC But ) ( PP-TMP ( NP ( CD five ) ( NNS weeks ) ) ( IN after ) ( NP ( DT the ) ( NN premiere ) ) ) ( NP-SBJ ( DT the ) ( NN series ) ) ( VP ( VBZ has ) ( VP ( VBN floundered ) ) ) )

But five weeks after the premiere the series has floundered


( S ( PP ( IN In ) ( NP ( NP ( NNS figures ) ) ( VP ( VBN released ) ( NP-TMP ( NN yesterday ) ) ( PP ( IN by ) ( NP-LGS ( NNP A.C. ) ( NNP Nielsen ) ( NNP Co ) ) ) ) ) ) ( NP-SBJ-TTL-1 ( NNP Teddy ) ( NNP Z ) ) ( S-ADV ( VP ( VBN produced ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN television ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Columbia ) ( NNP Pictures ) ( NNP Entertainment ) ( NNP Inc. ) ) ) ) ) ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( IN in ) ( NP ( JJ 37th ) ( NN place ) ) ) ) )

In figures released yesterday by A.C. Nielsen Co Teddy Z produced by the television unit of Columbia Pictures Entertainment Inc. was in 37th place


( S ( ADVP ( JJR Worse ) ) ( S ( NP-TMP ( DT every ) ( NN week ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ suffers ) ( NP ( NP ( NN audience ) ( NN drop-off ) ) ( PP ( IN from ) ( NP-TTL ( NNP Murphy ) ( NNP Brown ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NN viewership ) ) ( PP ( IN on ) ( NP ( NNP CBS ) ) ) ) ( VP ( VBZ picks ) ( PRT ( RP up ) ) ( ADVP-TMP ( RB again ) ) ( SBAR-TMP ( RB once ) ( S ( NP-TTL-SBJ-1 ( NNP Teddy ) ( NNP Z ) ) ( VP ( VP ( VBZ is ) ( ADVP-PRD ( RB over ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN followed ) ( PP ( IN by ) ( NP-LGS ( NNP Designing ) ( NNP Women ) ) ) ) ) ) ) ) ) ) )

Worse every week it suffers audience drop-off from Murphy Brown and viewership on CBS picks up again once Teddy Z is over and is followed by Designing Women


( SINV ( S-TPC-2 ( NP-SBJ ( EX There ) ) ( VP ( VBZ is ) ( NP-PRD ( JJ strong ) ( NN indication ) ( SBAR ( IN that ) ( S ( NP-TTL-SBJ ( NNP Teddy ) ( NNP Z ) ) ( VP ( VBZ is ) ( RB not ) ( ADJP-PRD ( JJ compatible ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NNS shows ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG surrounding ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Sisk ) ) ( NP ( NP ( JJ senior ) ( NN vice ) ( NN president ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP J. ) ( NNP Walter ) ( NNP Thompson ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP WPP ) ( NNP Group ) ( NNP PLC ) ) ) ) ) ) ) ) )

There is strong indication that Teddy Z is not compatible with the shows it is surrounding said John Sisk senior vice president at J. Walter Thompson Co. a unit of WPP Group PLC


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-TTL-SBJ-1 ( NNP Murphy ) ( NNP Brown ) ) ( VP ( VBD was ) ( VP ( VBN viewed ) ( PP ( IN by ) ( NP-LGS ( NP ( CD 14.1 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ available ) ( NN television ) ( NNS households ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( NN number ) ) ( VP ( VP ( VBD dropped ) ( PP-DIR ( TO to ) ( NP ( CD 12.6 ) ( NN % ) ) ) ( PP ( IN for ) ( NP-TTL ( NNP Teddy ) ( NNP Z ) ) ) ) ( CC and ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 14.2 ) ( NN % ) ) ) ( PP ( IN for ) ( NP-TTL ( NNP Designing ) ( NNP Women ) ) ) ) ) ) ) ) ) )

Last week Murphy Brown was viewed by 14.1 % of the available television households while the number dropped to 12.6 % for Teddy Z and rose to 14.2 % for Designing Women


( S ( NP-SBJ ( NNP CBS ) ( NNS executives ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN program ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBN slated ) ( S ( VP ( TO to ) ( VP ( VB undergo ) ( NP ( DT some ) ( NN plot ) ( NNS changes ) ) ) ) ) ) ) ) ) ) )

CBS executives said the program is also slated to undergo some plot changes


( S ( S-TPC-1 ( S ( NP-SBJ ( NNP Creator ) ( NNP Hugh ) ( NNP Wilson ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( VP ( VBD included ) ( NP ( NP ( DT the ) ( JJ lead ) ( NN character ) ( POS 's ) ) ( JJ Greek ) ( NN family ) ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NN cast ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ is ) ( RB not ) ( NP-PRD ( DT the ) ( JJ right ) ( NN focus ) ) ( ADVP ( RB anymore ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( CD one ) ( NNP CBS ) ( NN executive ) ) )

Creator Hugh Wilson for example included the lead character 's Greek family in the cast but that is not the right focus anymore said one CBS executive


( S ( ADVP ( RB Instead ) ) ( NP-SBJ ( NNP CBS ) ) ( VP ( VBZ hopes ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN show ) ) ( VP ( MD will ) ( ADVP-MNR ( RB increasingly ) ) ( VP ( VB highlight ) ( NP ( NP ( DT the ) ( NN talent ) ( NN agency ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN business ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( DT an ) ( NN agent ) ) ) ) ) ) ) ) ) ) ) ) )

Instead CBS hopes the show will increasingly highlight the talent agency and the business of being an agent


( SINV ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( VP ( VBG making ) ( NP ( NP ( NNS adjustments ) ) ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN show ) ) ) ( PRN ( INTJ ( UH yes ) ) ) ( FRAG ( CC but ) ( NP-2 ( NP ( NN nothing ) ) ( ADJP ( JJ radical ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Craig ) ( NNP Nelson ) ) ( NP ( NP ( DT the ) ( NN story ) ( NN consultant ) ) ( PP ( IN on ) ( NP-TTL ( NNP Teddy ) ( NNP Z ) ) ) ) ) )

We 're making adjustments on the show yes but nothing radical said Craig Nelson the story consultant on Teddy Z


( S ( CC But ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP hope ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( NP ( NP ( DT a ) ( NN balance ) ) ( PP ( IN between ) ( NP ( NP ( DT the ) ( NN office ) ) ( CC and ) ( NP ( DT the ) ( NN family ) ) ) ) ) ) ) ) ) )

But we hope to keep a balance between the office and the family


( S-3 ( NP-SBJ-2 ( DT The ) ( NN opening ) ( NNS credits ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( NN redone ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Nelson ) ) ( VP ( VBD said ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( NNP Teddy ) ( POS 's ) ) ( NN situation ) ) ( ADJP-PRD ( JJ clear ) ( PP ( TO to ) ( NP ( NP ( NNS viewers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP have ) ( RB not ) ( VP ( VBN been ) ( PP-PRD ( IN with ) ( NP ( PRP us ) ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( NN beginning ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The opening credits are being redone Mr. Nelson said to make Teddy 's situation clear to viewers who have not been with us since the beginning


( S ( NP-SBJ ( DT Those ) ( NNS viewers ) ) ( VP ( VBP find ) ( S ( NP-SBJ ( DT the ) ( NN show ) ) ( ADJP-PRD ( JJ confusing ) ) ) ) )

Those viewers find the show confusing


( S ( NP-SBJ-1 ( DT The ) ( NNP Treasury ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( QP ( CD 1.8 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ new ) ( NN cash ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN sale ) ) ( NP-TMP ( NNP Monday ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 15.6 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ short-term ) ( NNS bills ) ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB redeem ) ( NP ( NP ( QP ( CD 13.81 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( VBG maturing ) ( NNS bills ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Treasury plans to raise 1.8 billion in new cash with the sale Monday of about 15.6 billion in short-term bills to redeem 13.81 billion in maturing bills


( S ( NP-SBJ-1 ( DT The ) ( NN offering ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN divided ) ( ADVP-MNR ( RB evenly ) ) ( PP-CLR ( IN between ) ( NP ( NP ( ADJP ( JJ 13-week ) ( CC and ) ( JJ 26-week ) ) ( NNS bills ) ) ( VP ( VBG maturing ) ( NP-TMP ( NP ( NNP Feb. ) ( CD 1 ) ( CD 1990 ) ) ( CC and ) ( NP ( NNP May ) ( CD 3 ) ( CD 1990 ) ) ( ADVP ( RB respectively ) ) ) ) ) ) ) ) ) )

The offering will be divided evenly between 13-week and 26-week bills maturing Feb. 1 1990 and May 3 1990 respectively


( S ( NP-SBJ-1 ( NP ( NNS Tenders ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS bills ) ) ) ( ADJP ( JJ available ) ( PP ( IN in ) ( NP ( JJ minimum ) ( ADJP ( CD 10,000 ) ) ( NNS denominations ) ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN received ) ( PP-TMP ( IN by ) ( NP ( CD 1 ) ( NN p.m. ) ( NNP EST ) ( NNP Monday ) ) ) ( PP-LOC ( PP ( IN at ) ( NP ( DT the ) ( NNP Treasury ) ) ) ( CC or ) ( PP ( IN at ) ( NP ( NNP Federal ) ( NNP Reserve ) ( NNS banks ) ( CC or ) ( NNS branches ) ) ) ) ) ) ) )

Tenders for the bills available in minimum 10,000 denominations must be received by 1 p.m. EST Monday at the Treasury or at Federal Reserve banks or branches


( S ( NP-SBJ ( DT The ) ( NNP Treasury ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB alter ) ( NP ( DT the ) ( NNS auctions ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( NP ( NN assurance ) ) ( PP ( IN of ) ( NP ( NP ( NN enactment ) ) ( PP ( IN of ) ( NP ( NP ( NN legislation ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( DT the ) ( JJ statutory ) ( NN debt ) ( NN limit ) ) ( PP-TMP ( IN before ) ( NP ( NP ( DT the ) ( JJ scheduled ) ( NNS auctions ) ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Treasury said it will alter the auctions unless it has assurance of enactment of legislation to raise the statutory debt limit before the scheduled auctions Monday


( S ( NP-SBJ ( NP ( DT The ) ( NN stock ) ( NN market ) ( POS 's ) ) ( NNS woes ) ) ( VP ( VP ( VBD spooked ) ( NP ( NN currency ) ( NNS traders ) ) ) ( CC but ) ( VP ( VBD prompted ) ( NP ( NP ( DT a ) ( JJ quiet ) ( JJ little ) ( NN party ) ) ( PP-LOC ( IN among ) ( NP ( NN bond ) ( NNS investors ) ) ) ) ) ) )

The stock market 's woes spooked currency traders but prompted a quiet little party among bond investors


( S ( NP-SBJ ( NP ( NNS Prices ) ) ( PP ( IN of ) ( NP ( JJ long-term ) ( NNP Treasury ) ( NNS bonds ) ) ) ) ( VP ( VBD moved ) ( ADVP-MNR ( RB inversely ) ( PP ( TO to ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( VBD sought ) ( NP ( NN safety ) ) ( PP-LOC ( IN amid ) ( NP ( VBG growing ) ( NN evidence ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBZ is ) ( VP ( VBG weakening ) ) ) ) ) ) ) ) ) ) ) )

Prices of long-term Treasury bonds moved inversely to the stock market as investors sought safety amid growing evidence the economy is weakening


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( JJ shaky ) ( JJ economic ) ( NN outlook ) ) ( CC and ) ( NP ( DT the ) ( JJ volatile ) ( NN stock ) ( NN market ) ) ) ( VP ( VBD forced ) ( NP ( DT the ) ( NN dollar ) ) ( ADVP-CLR ( RBR lower ) ( PP ( IN against ) ( NP ( JJ major ) ( NNS currencies ) ) ) ) ) )

But the shaky economic outlook and the volatile stock market forced the dollar lower against major currencies


( S ( NP-SBJ ( DT The ) ( NN bond ) ( NN market ) ) ( VP ( VBD got ) ( NP ( DT an ) ( JJ early ) ( NN boost ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ opening-hour ) ( NN sell-off ) ) ( PP-LOC ( IN in ) ( NP ( NNS stocks ) ) ) ) ) ) )

The bond market got an early boost from the opening-hour sell-off in stocks


( S ( NP-SBJ-1 ( DT That ) ( NN rout ) ) ( VP ( VBD was ) ( VP ( VBN triggered ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP UAL ) ( NNP Corp. ) ( POS 's ) ) ( NN announcement ) ) ( NP-TMP ( RB late ) ( NNP Monday ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ proposed ) ( JJ management-labor ) ( NN buy-out ) ) ( VP ( VBD had ) ( VP ( VBN collapsed ) ) ) ) ) ) ) ) ) )

That rout was triggered by UAL Corp. 's announcement late Monday that the proposed management-labor buy-out had collapsed


( S ( NP-SBJ ( NP ( DT The ) ( JJ 80-point ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN morning ) ( NN trading ) ( NN session ) ) ) ) ( VP ( VBD touched ) ( PRT ( RP off ) ) ( NP ( NP ( NP ( DT a ) ( NN flight ) ) ( PP ( TO to ) ( NP ( NN safety ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD saw ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( VBG shifting ) ( NP ( NNS assets ) ) ( PP-DIR ( IN from ) ( NP ( NNS stocks ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Treasury ) ( NNS bonds ) ) ) ) ) ) ) ) ) ) )

The 80-point decline in the Dow Jones Industrial Average during the morning trading session touched off a flight to safety that saw investors shifting assets from stocks to Treasury bonds


( S ( PP-TMP ( IN At ) ( NP ( PRP$ its ) ( JJS strongest ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Treasury ) ( POS 's ) ) ( JJ benchmark ) ( JJ 30-year ) ( NN bond ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( NP ( JJR more ) ) ( PP ( IN than ) ( NP ( DT a ) ( NN point ) ) ) ) ( CC or ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 10 ) ) ) ( PP ( IN for ) ( NP ( DT each ) ( ADJP ( CD 1,000 ) ) ( NN face ) ( NN amount ) ) ) ) ) ) )

At its strongest the Treasury 's benchmark 30-year bond rose more than a point or more than 10 for each 1,000 face amount


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( VBD recovered ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS losses ) ) ) ) ( ADVP-TMP ( RB later ) ( PP ( IN in ) ( NP ( DT the ) ( NN day ) ) ) ) ) ) ) ( NP-SBJ ( NN bond ) ( NNS prices ) ) ( VP ( VBD retreated ) ) )

As the stock market recovered some of its losses later in the day bond prices retreated


( S ( CC But ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN combination ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT a ) ( JJ second ) ( JJ consecutive ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( JJ monthly ) ( NNS durable-goods ) ( NNS orders ) ) ) ) ( CC and ) ( NP ( JJ lackluster ) ( NNP mid-October ) ( NN auto ) ( NNS sales ) ) ) ) ) ( VP ( VBD helped ) ( S ( VP ( VB prop ) ( PRT ( RP up ) ) ( NP ( DT the ) ( NNP Treasury ) ( NN market ) ) ) ) ) ) ) ) )

But analysts said the combination of a second consecutive decline in monthly durable-goods orders and lackluster mid-October auto sales helped prop up the Treasury market


( S ( NP-SBJ-1 ( NP ( DT A ) ( VBG slowing ) ( NN economy ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN implication ) ) ( PP ( IN of ) ( NP ( JJR lower ) ( NN inflation ) ( CC and ) ( NN interest ) ( NNS rates ) ) ) ) ) ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( NN bond ) ( NNS prices ) ) ) ) ) ) )

A slowing economy and the implication of lower inflation and interest rates tend to bolster bond prices


( S ( PP-LOC ( IN On ) ( NP ( DT the ) ( NN surface ) ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( NNP September ) ( JJ durable ) ( NNS goods ) ) ) ) ( PRN ( NP ( QP ( RB only ) ( CD 0.1 ) ) ( NN % ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB appear ) ( ADJP-PRD ( RB very ) ( JJ weak ) ) ) ) )

On the surface the decline in September durable goods only 0.1 % did n't appear very weak


( S ( CC But ) ( NP-SBJ-1 ( NP ( NP ( NNS orders ) ) ( PP ( IN for ) ( NP ( JJ non-defense ) ( NN capital ) ( NNS goods ) ) ) ) ( NP ( NP ( DT a ) ( NN precursor ) ) ( PP ( IN of ) ( NP ( JJ future ) ( NN plant ) ( CC and ) ( NN equipment ) ( NN spending ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB off ) ( NP ( CD 5.6 ) ( NN % ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG falling ) ( NP-EXT ( CD 10.3 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ) )

But orders for non-defense capital goods a precursor of future plant and equipment spending were off 5.6 % after falling 10.3 % in August


( S ( NP-SBJ ( NN Auto ) ( NNS makers ) ) ( VP ( VBD reported ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP mid-October ) ( NNS sales ) ) ( VP ( VBD were ) ( VP ( VBG running ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ annual ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 5.8 ) ( CD million ) ) ( NNS units ) ) ( ADJP ( ADJP ( RB far ) ( JJR less ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( QP ( CD 6.6 ) ( CD million ) ) ( NNS units ) ) ( SBAR ( S ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD had ) ( VP ( VBN expected ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Auto makers reported that mid-October sales were running at an annual rate of about 5.8 million units far less than the 6.6 million units analysts had expected


( S ( S-ADV ( VP ( VBN Taken ) ( ADVP-MNR ( RB together ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NNS auto-sales ) ( CC and ) ( NNS durable-goods ) ( NNS reports ) ) ( VP ( VBD confirmed ) ( NP ( NNS perceptions ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBZ is ) ( VP ( VBG bogging ) ( PRT ( RP down ) ) ) ) ) ) ) ) )

Taken together the auto-sales and durable-goods reports confirmed perceptions that the economy is bogging down


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB expect ) ( S ( NP-SBJ ( DT the ) ( NNP Federal ) ( NNP Reserve ) ) ( VP ( TO to ) ( VP ( VB ease ) ( NP ( NN credit ) ( NN policy ) ) ( ADVP-TMP ( RB soon ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNS reports ) ) ( PP ( IN like ) ( NP ( NP ( DT those ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ( VP ( VBP help ) ( S ( VP ( VB build ) ( NP ( NP ( DT the ) ( NN case ) ) ( PP ( IN for ) ( NP ( JJR lower ) ( NNS rates ) ) ) ) ) ) ) )

Although analysts do n't expect the Federal Reserve to ease credit policy soon reports like those yesterday help build the case for lower rates


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NN bond ) ( NNS investors ) ) ( VP ( VBP are ) ( VP ( VBG looking ) ( PP-CLR ( IN toward ) ( NP-1 ( NP ( NP ( NP ( JJ next ) ( NN week ) ( POS 's ) ) ( NN report ) ) ( PP ( IN from ) ( NP ( JJ national ) ( NN purchasing ) ( NNS managers ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN government ) ( POS 's ) ) ( NNP October ) ( NN employment ) ( NN report ) ) ) ) ( PP-CLR ( IN as ) ( S-NOM ( ADVP ( RB potentially ) ) ( VP ( VBG prompting ) ( S ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( TO to ) ( VP ( VB lower ) ( NP ( NNS rates ) ) ) ) ) ) ) ) ) ) )

Now bond investors are looking toward next week 's report from national purchasing managers and the government 's October employment report as potentially prompting the Fed to lower rates


( S ( NP-SBJ ( NP ( DT The ) ( NN stock ) ( NN market ) ( POS 's ) ) ( JJ precipitous ) ( NN drop ) ) ( VP ( VBD frightened ) ( NP ( NP ( JJ foreign ) ( NNS investors ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP-TMP ( RB quickly ) ) ( VP ( VBD bid ) ( NP ( DT the ) ( NN dollar ) ) ( ADVP-CLR ( RBR lower ) ) ) ) ) ) ) )

The stock market 's precipitous drop frightened foreign investors who quickly bid the dollar lower


( SINV ( CC But ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NN stock ) ( NNS prices ) ) ( VP ( VBD recovered ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ early ) ( NNS losses ) ) ) ) ) ) ) ( ADVP-MNR-TPC-1 ( RB so ) ) ( VP ( VBD did ) ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN currency ) ) )

But as stock prices recovered some of the early losses so did the U.S. currency


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNS dealers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS investors ) ) ( VP ( VBP are ) ( VP ( VBG becoming ) ( ADJP-PRD ( RBR more ) ( JJ bearish ) ( PP ( IN toward ) ( NP ( DT the ) ( NN dollar ) ) ) ) ( UCP-ADV ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN wake ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN stock ) ( NN market ) ( POS 's ) ) ( JJ recent ) ( NNS troubles ) ) ) ) ) ( CC and ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN economy ) ) ( VP ( VBZ weakens ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD ended ) ( ADVP-CLR ( RB down ) ( ADVP-EXT ( RB only ) ( RB modestly ) ) ) ) )

Although dealers said investors are becoming more bearish toward the dollar in the wake of the stock market 's recent troubles and as the U.S. economy weakens the dollar ended down only modestly


( S ( PP-LOC ( IN In ) ( NP ( JJ major ) ( NN market ) ( NN activity ) ) ) ( NP-SBJ ( NN Bond ) ( NNS prices ) ) ( VP ( VBD rose ) ) )

In major market activity Bond prices rose


( S ( NP-SBJ ( NP ( DT The ) ( NNP Treasury ) ( POS 's ) ) ( JJ benchmark ) ( JJ 30-year ) ( NN bond ) ) ( VP ( VBD gained ) ( NP ( NP ( RB nearly ) ( PDT half ) ( DT a ) ( NN point ) ) ( CC or ) ( NP ( NP ( QP ( RB about ) ( CD 5 ) ) ) ( PP ( IN for ) ( NP ( DT each ) ( ADJP ( CD 1,000 ) ) ( NN face ) ( NN amount ) ) ) ) ) ) )

The Treasury 's benchmark 30-year bond gained nearly half a point or about 5 for each 1,000 face amount


( S ( NP-SBJ ( NP ( DT The ) ( NN yield ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN issue ) ) ) ) ( VP ( VBD slipped ) ( PP-DIR ( TO to ) ( NP ( CD 7.89 ) ( NN % ) ) ) ) )

The yield on the issue slipped to 7.89 %


( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VBD retreated ) ) )

The dollar retreated


( S ( PP-LOC ( IN In ) ( NP ( JJ late ) ( NNP New ) ( NNP York ) ( NN trading ) ) ) ( NP-SBJ-1 ( DT the ) ( NN currency ) ) ( VP ( VBD was ) ( VP ( VBN quoted ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 1.8355 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 141.45 ) ( NN yen ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( CD 1.8470 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 141.90 ) ( NN yen ) ) ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) )

In late New York trading the currency was quoted at 1.8355 marks and 141.45 yen compared with 1.8470 marks and 141.90 yen Monday


( S ( NP-SBJ-1 ( NP ( NNP Roy ) ( NNP E. ) ( NNP Parrott ) ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NX ( NX ( NN president ) ) ( CC and ) ( NX ( NN chief ) ( NN operating ) ( NN officer ) ) ) ) ( PP-TMP ( IN since ) ( NP ( NNP Sept. ) ( CD 1 ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( PRP$ its ) ( NN board ) ) ) ) ) )

Roy E. Parrott the company 's president and chief operating officer since Sept. 1 was named to its board


( S ( NP-SBJ ( DT The ) ( NN appointment ) ) ( VP ( VBD increased ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS directors ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( CD 10 ) ) ( SBAR ( WHNP-1 ( NP ( CD three ) ) ( WHPP ( IN of ) ( WHNP ( WP whom ) ) ) ) ( S ( VP ( VBP are ) ( NP-PRD ( NN company ) ( NNS employees ) ) ) ) ) ) ) ) )

The appointment increased the number of directors to 10 three of whom are company employees


( S ( NP-SBJ ( NNP Simpson ) ) ( VP ( VBZ is ) ( NP-PRD ( DT an ) ( NN auto ) ( NNS parts ) ( NN maker ) ) ) )

Simpson is an auto parts maker


( S ( NP-SBJ ( NP ( NNP John ) ( NNP B. ) ( NNP Curcio ) ) ( ADJP ( NP ( CD 55 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD resigned ) ( PP-CLR ( IN as ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT this ) ( JJ diesel ) ( NN truck ) ( NN manufacturer ) ) ) ) ) ( PP-TMP ( JJ effective ) ( PP ( IN upon ) ( NP ( NP ( NN appointment ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN successor ) ) ) ) ) ) ) )

John B. Curcio 55 years old resigned as chairman of this diesel truck manufacturer effective upon appointment of a successor


( S ( NP-TMP ( JJ Last ) ( NN month ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Curcio ) ) ( VP ( VBD was ) ( VP ( VBN succeeded ) ( PP ( IN by ) ( NP-LGS ( NNP Ralph ) ( NNP E. ) ( NNP Reins ) ) ) ( PP-CLR ( IN as ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( JJ several ) ( NNS quarters ) ) ( PP ( IN of ) ( NP ( ADJP ( JJ lackluster ) ( CC or ) ( VBG declining ) ) ( NN performance ) ) ) ) ) ) ) )

Last month Mr. Curcio was succeeded by Ralph E. Reins as chief executive officer following several quarters of lackluster or declining performance


( S ( NP-SBJ-1 ( NP ( NNS Yields ) ) ( PP ( IN on ) ( NP ( NP ( NNS certificates ) ) ( PP ( IN of ) ( NP ( NN deposit ) ) ) ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ major ) ( NNS banks ) ) ) ( VP ( VBD were ) ( VP ( NP-EXT ( RB little ) ) ( VBN changed ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ) ) )

Yields on certificates of deposit at major banks were little changed in the latest week


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( NP ( JJ six-month ) ( NNS CDs ) ) ( PP ( IN of ) ( NP ( CD 50,000 ) ( QP ( CC and ) ( JJR less ) ) ) ) ) ) ) ( VP ( VBD slipped ) ( PP-DIR ( TO to ) ( NP ( CD 7.96 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.00 ) ( NN % ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNP Banxquote ) ( NNP Money ) ( NNP Markets ) ) ( NP ( NP ( DT an ) ( NN information ) ( NN service ) ) ( VP ( VBN based ) ( ADVP-LOC-CLR ( RB here ) ) ) ) ) ) ) ) )

The average yield on six-month CDs of 50,000 and less slipped to 7.96 % from 8.00 % according to Banxquote Money Markets an information service based here


( S ( PP ( IN On ) ( NP ( NP ( JJ one-year ) ) ( NNP CDs ) ( PP ( IN of ) ( NP ( CD 50,000 ) ( QP ( CC and ) ( JJR less ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN average ) ) ( VP ( VBD slid ) ( PP-DIR ( TO to ) ( NP ( CD 8.02 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.06 ) ( NN % ) ) ) ) )

On one-year CDs of 50,000 and less the average slid to 8.02 % from 8.06 %


( S ( NP-SBJ ( DT Both ) ( NNS issues ) ) ( VP ( VBP are ) ( PP-LOC-PRD ( IN among ) ( NP ( NP ( DT the ) ( RBS most ) ( JJ popular ) ) ( PP ( IN with ) ( NP ( JJ individual ) ( NNS investors ) ) ) ) ) ) )

Both issues are among the most popular with individual investors


( SINV ( S-TPC-2 ( PP-PRP-1 ( IN Because ) ( IN of ) ( NP ( NP ( NN shrinkage ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN economy ) ) ) ) ) ( NP-SBJ ( NNS rates ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB decline ) ( PP-TMP ( IN over ) ( NP ( DT a ) ( JJ one-year ) ( NN horizon ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Norberto ) ( NNP Mehl ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP Banxquote ) ) ) ) ) )

Because of shrinkage in the economy rates can be expected to decline over a one-year horizon said Norberto Mehl chairman of Banxquote


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ unclear ) ) ( SBAR-1 ( SBAR ( WHADVP-2 ( WRB how ) ( RB much ) ) ( S ( NP-SBJ ( NNS rates ) ) ( VP ( MD can ) ( VP ( VB fall ) ) ) ) ) ( CC and ) ( FRAG ( WHADVP ( WRB how ) ( RB soon ) ) ) ) ) )

It 's unclear how much rates can fall and how soon


( S ( NP-SBJ ( NP ( NNS Changes ) ) ( PP-LOC ( IN in ) ( NP ( NN CD ) ( NNS yields ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN week ) ) ( VP ( VBN ended ) ( NP-TMP ( NNP Tuesday ) ) ) ) ) ( VP ( VBD were ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( NP ( NNS blips ) ) ( ADVP ( RB up ) ( CC and ) ( RB down ) ) ( PP-LOC ( IN within ) ( NP ( DT a ) ( RB fairly ) ( JJ narrow ) ( NN range ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ last ) ( CD two ) ( NNS months ) ) ) ) ) ) ) ) )

Changes in CD yields in the week ended Tuesday were in line with blips up and down within a fairly narrow range for the last two months


( S ( NP-SBJ-1 ( NN Interest ) ( NNS rates ) ) ( ADVP ( RB generally ) ) ( VP ( VBD began ) ( S ( VP ( VBG declining ) ) ) ( NP-TMP ( JJ last ) ( NN spring ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG moving ) ( ADVP-MNR ( RB steadily ) ) ( ADVP-DIR ( RB upward ) ) ( PP-TMP ( IN for ) ( NP ( QP ( JJR more ) ( IN than ) ( DT a ) ) ( NN year ) ) ) ) ) ) ) )

Interest rates generally began declining last spring after moving steadily upward for more than a year


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( JJ small-denomination ) ( JJ three-month ) ( NNS CDs ) ) ) ) ( VP ( VBD moved ) ( ADVP-DIR ( RB up ) ) ( NP-EXT ( NP ( NNS two-hundredths ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN percentage ) ( NN point ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 7.85 ) ( NN % ) ) ) ) )

The average yield on small-denomination three-month CDs moved up two-hundredths of a percentage point in the latest week to 7.85 %


( S ( NP-SBJ ( JJ Long-term ) ( NNS CDs ) ) ( VP ( VBD declined ) ( NP-EXT ( RB just ) ( DT a ) ( NN fraction ) ) ) )

Long-term CDs declined just a fraction


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( DT both ) ( NP ( JJ two-year ) ( NNS CDs ) ) ( CC and ) ( NP ( JJ five-year ) ( NNS CDs ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 7.98 ) ( NN % ) ) ) )

The average yield on both two-year CDs and five-year CDs was 7.98 %


( S ( NP-SBJ-1 ( NP ( RB Only ) ( NNS CDs ) ) ( VP ( VBN sold ) ( PP ( IN by ) ( NP-LGS ( JJ major ) ( NN brokerage ) ( NNS firms ) ) ) ) ) ( VP ( VBD posted ) ( NP ( NP ( JJ significant ) ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( JJ average ) ( NNS yields ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( JJ increased ) ( NNS yields ) ) ( PP ( IN on ) ( NP ( NP ( NNP Treasury ) ( NNS bills ) ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN auction ) ) ) ) ) ) ) ) ) ) )

Only CDs sold by major brokerage firms posted significant increases in average yields in the latest week reflecting increased yields on Treasury bills sold at Monday 's auction


( S ( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( JJ six-month ) ( JJ broker-sold ) ( NNS CDs ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 8.29 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.05 ) ( NN % ) ) ) ) ) ( CC and ) ( S ( PP ( IN on ) ( NP ( JJ one-year ) ( NNS CDs ) ) ) ( NP-SBJ ( DT the ) ( JJ average ) ( NN yield ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 8.30 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.09 ) ( NN % ) ) ) ) ) )

The average yield on six-month broker-sold CDs rose to 8.29 % from 8.05 % and on one-year CDs the average yield rose to 8.30 % from 8.09 %


( S ( NP-SBJ ( NP ( DT The ) ( NN brokerage ) ( NNS firms ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP negotiate ) ( NP ( NNS rates ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NNS banks ) ( CC and ) ( NNS thrifts ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NNS CDs ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP sell ) ) ) ) ) ) ) ) ) ) ( ADVP ( RB generally ) ) ( VP ( VBP feel ) ( SBAR ( S ( NP-SBJ-3 ( PRP they ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB offer ) ( NP ( NNS clients ) ) ( NP ( NP ( JJR more ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD can ) ( VP ( VB get ) ( PP ( PP ( IN on ) ( NP ( NNS T-bills ) ) ) ( CC or ) ( PP-DIR ( IN from ) ( NP ( NNS banks ) ( CC and ) ( NNS thrifts ) ) ( ADVP ( RB directly ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The brokerage firms which negotiate rates with the banks and thrifts whose CDs they sell generally feel they have to offer clients more than they can get on T-bills or from banks and thrifts directly


( S ( NP-SBJ ( NP ( NNS T-bills ) ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN auction ) ) ) ) ) ( VP ( VBN yielded ) ( NP ( NP ( NP ( NP ( CD 7.90 ) ( NN % ) ) ( PP ( IN for ) ( NP ( CD six ) ( NNS months ) ) ) ) ( CC and ) ( NP ( NP ( CD 7.77 ) ( NN % ) ) ( PP ( IN for ) ( NP ( CD three ) ( NNS months ) ) ) ) ) ( ADVP ( RB up ) ( PP-DIR ( IN from ) ( NP ( NP ( CD 7.82 ) ( NN % ) ) ( CC and ) ( NP ( CD 7.61 ) ( NN % ) ) ( ADVP ( RB respectively ) ) ) ( ADVP-TMP ( NP ( DT the ) ( NN week ) ) ( RB before ) ) ) ) ) ) )

T-bills sold at Monday 's auction yielded 7.90 % for six months and 7.77 % for three months up from 7.82 % and 7.61 % respectively the week before


( S ( NP-SBJ ( NP ( JJ So-called ) ( JJ jumbo ) ( NNS CDs ) ) ( PP ( ADVP ( RB typically ) ) ( IN in ) ( NP ( NP ( NNS denominations ) ) ( PP ( IN of ) ( NP ( CD 90,000 ) ( QP ( CC and ) ( RB up ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBP follow ) ( NP ( NP ( NNS T-bills ) ) ( CC and ) ( NP ( NN interest ) ( NN rate ) ( NNS trends ) ) ) ( PP ( IN in ) ( ADJP ( JJ general ) ) ) ( ADVP ( ADVP ( RBR more ) ) ( PP ( IN than ) ( NP ( NP ( DT those ) ) ( VP ( VBN aimed ) ( PP-CLR ( IN at ) ( NP ( JJ small ) ( NNS investors ) ) ) ) ) ) ) ) )

So-called jumbo CDs typically in denominations of 90,000 and up also usually follow T-bills and interest rate trends in general more than those aimed at small investors


( S ( NP-SBJ ( DT Some ) ( NNS jumbos ) ) ( VP ( VBD posted ) ( NP ( NP ( JJ fractional ) ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( JJ average ) ( NNS yields ) ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ( ADVP-1 ( CC both ) ( RB up ) ( CC and ) ( RB down ) ) ) )

Some jumbos posted fractional changes in average yields this week both up and down


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( JJ threemonth ) ( NNS jumbos ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 8.00 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 7.96 ) ( NN % ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( JJ two-year ) ( NN average ) ) ( VP ( VBD fell ) ( PP-EXT ( IN by ) ( NP ( DT the ) ( JJ same ) ( NN amount ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 7.89 ) ( NN % ) ) ) ) ) ) ) )

The average yield on threemonth jumbos rose to 8.00 % from 7.96 % while the two-year average fell by the same amount to 7.89 %


( S ( NP-SBJ ( JJ Six-month ) ( CC and ) ( JJ oneyear ) ( NNS yields ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ unchanged ) ) ( PP ( IN on ) ( NP ( NN average ) ) ) ) )

Six-month and oneyear yields were unchanged on average


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( PRN ( NN CD ) ) ( NN market ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unsettled ) ) ( ADVP-TMP ( RB right ) ( RB now ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Banxquote ) ( POS 's ) ) ( NNP Mr. ) ( NNP Mehl ) ) )

The CD market is unsettled right now said Banxquote 's Mr. Mehl


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBZ 's ) ( VP ( ADVP-MNR ( RB very ) ( RB easily ) ) ( VBN influenced ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN stock ) ( NN market ) ) ( CC and ) ( NP ( DT the ) ( NN junk ) ( NN bond ) ( NN market ) ) ) ) ) ) ) ) )

It 's very easily influenced by changes in the stock market and the junk bond market


( S ( NP-SBJ ( NP ( DT The ) ( JJ small ) ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( NNS averages ) ) ) ) ( VP ( VBP reflect ) ( NP ( NP ( RB generally ) ( JJ unchanged ) ( NNS yields ) ) ( PP-LOC ( IN at ) ( NP ( JJ many ) ( JJ major ) ( NNS banks ) ) ) ) ) )

The small changes in averages reflect generally unchanged yields at many major banks


( S ( NP-SBJ ( DT Some ) ) ( ADVP ( RB however ) ) ( VP ( VBD lowered ) ( NP ( NNS yields ) ) ( ADVP ( RB significantly ) ) ) )

Some however lowered yields significantly


( S ( PP-LOC ( IN At ) ( NP ( NP ( NNP Chase ) ( NNP Manhattan ) ( NNP Bank ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN yield ) ) ( PP ( IN on ) ( NP ( DT a ) ( JJ small ) ( NN denomination ) ( JJ six-month ) ( NN CD ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( NP ( RB about ) ( DT a ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN percentage ) ( NN point ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 8.06 ) ( NN % ) ) ) ) )

At Chase Manhattan Bank in New York for example the yield on a small denomination six-month CD fell about a quarter of a percentage point to 8.06 %


( S ( PP-LOC ( IN In ) ( NP ( NNP California ) ) ) ( NP-SBJ ( NP ( NNP Bank ) ) ( PP ( IN of ) ( NP ( NNP America ) ) ) ) ( VP ( VBD dropped ) ( NP ( NP ( DT the ) ( NN yield ) ) ( PP ( IN on ) ( NP ( DT both ) ( JJ six-month ) ( CC and ) ( JJ one-year ) ( NNS savings ) ( NNS CDs ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 8.33 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.61 ) ( NN % ) ) ) ) )

In California Bank of America dropped the yield on both six-month and one-year savings CDs to 8.33 % from 8.61 %


( S ( NP-SBJ ( NP ( NNS Yields ) ) ( PP ( IN on ) ( NP ( JJ money-market ) ( NNS deposits ) ) ) ) ( VP ( VBD were ) ( UCP-PRD ( ADJP ( JJ unchanged ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ average ) ( CD 6.96 ) ( NN % ) ) ( PP ( IN for ) ( NP ( CD 50,000 ) ( QP ( CC and ) ( JJR less ) ) ) ) ) ) ) ( CC and ) ( ADVP ( RB down ) ( NP-EXT ( NP ( RB just ) ( DT a ) ( JJ hundredth ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN percentage ) ( NN point ) ) ) ) ( PP ( TO to ) ( NP ( CD 7.41 ) ( NN % ) ) ) ( PP ( IN for ) ( NP ( JJ jumbo ) ( NNS deposits ) ) ) ) ) ) )

Yields on money-market deposits were unchanged at an average 6.96 % for 50,000 and less and down just a hundredth of a percentage point to 7.41 % for jumbo deposits


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Lion ) ( NNP Nathan ) ( NNP Ltd. ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( DT the ) ( NN franchise ) ( S ( VP ( TO to ) ( VP ( VB bottle ) ( VB distribute ) ( CC and ) ( VB market ) ( NP ( NNP Pepsi-Cola ) ( NN soft-drink ) ( NNS products ) ) ( PP-LOC ( IN in ) ( NP ( NNP Australia ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

Lion Nathan Ltd. agreed to buy the franchise to bottle distribute and market Pepsi-Cola soft-drink products in Australia the company said


( S ( NP-SBJ ( DT The ) ( NNP New ) ( NNP Zealand ) ( NN brewing ) ( CC and ) ( JJ retail ) ( NN concern ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB disclose ) ( NP ( NNS terms ) ) ) ) )

The New Zealand brewing and retail concern did n't disclose terms


( S ( NP-SBJ ( DT The ) ( NN agreement ) ) ( VP ( VP ( VBZ is ) ( ADJP-PRD ( JJ effective ) ) ( NP-TMP ( NNP Jan. ) ( CD 1 ) ) ) ( CC and ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NN approval ) ) ( PP ( IN from ) ( NP ( NP ( NNP Australia ) ( POS 's ) ) ( NNP Foreign ) ( NNP Investment ) ( NNP Review ) ( NNP Board ) ) ) ) ) ) ) ) )

The agreement is effective Jan. 1 and is subject to approval from Australia 's Foreign Investment Review Board


( S ( NP-SBJ ( NNP Cadbury ) ( NNP Schweppes ) ( NNP Australia ) ( NNP Ltd. ) ) ( VP ( VBZ has ) ( VP ( VBN held ) ( NP ( DT the ) ( JJ Australian ) ( NNP Pepsi ) ( NN franchise ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ past ) ( CD four ) ( NNS years ) ) ) ) ) )

Cadbury Schweppes Australia Ltd. has held the Australian Pepsi franchise for the past four years


( S ( NP-SBJ ( NP ( NNP Lion ) ( NNP Nathan ) ) ( CC and ) ( NP ( NP ( NNP PepsiCola ) ( NNP Australia ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP PepsiCo ) ( NNP Inc. ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB say ) ( SBAR ( WHADVP ( WRB why ) ) ( S ( NP-SBJ ( NNP Cadbury ) ( NNP Schweppes ) ) ( VP ( MD will ) ( ADVP-TMP ( RB no ) ( RBR longer ) ) ( VP ( VB hold ) ( NP ( DT the ) ( NN franchise ) ) ) ) ) ) ) ) )

Lion Nathan and PepsiCola Australia a unit of PepsiCo Inc. of the U.S. did n't say why Cadbury Schweppes will no longer hold the franchise


( SINV ( S-TPC-2 ( NP-SBJ-1 ( NNP Mobil ) ( NNP Corp. ) ) ( VP ( VBZ is ) ( VP ( VBG preparing ) ( S ( VP ( TO to ) ( VP ( VB slash ) ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NN work ) ( NN force ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( ADVP ( RB possibly ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB soon ) ) ( PP ( IN as ) ( NP ( JJ next ) ( NN month ) ) ) ) ) ) ) ) ) ) ( VP ( VBP say ) ) ( NP-SBJ ( NP ( NNS individuals ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN strategy ) ) ) ) ) )

Mobil Corp. is preparing to slash the size of its work force in the U.S. possibly as soon as next month say individuals familiar with the company 's strategy


( S ( S ( NP-SBJ-3 ( NP ( DT The ) ( NN size ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS cuts ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN known ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD 'll ) ( VP ( VB be ) ( VP ( VBN centered ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN exploration ) ( CC and ) ( NN production ) ( NN division ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ responsible ) ( PP ( IN for ) ( S-NOM ( VP ( VP ( VBG locating ) ( NP ( NN oil ) ( NNS reserves ) ) ) ( VP ( VBG drilling ) ( NP ( NNS wells ) ) ) ( CC and ) ( VP ( VBG pumping ) ( NP ( NP ( JJ crude ) ( NN oil ) ) ( CC and ) ( NP ( JJ natural ) ( NN gas ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The size of the cuts is n't known but they 'll be centered in the exploration and production division which is responsible for locating oil reserves drilling wells and pumping crude oil and natural gas


( S ( NP-SBJ-1 ( NNS Employees ) ) ( VP ( VBP have ) ( RB n't ) ( ADVP-TMP ( RB yet ) ) ( VP ( VBN been ) ( VP ( VBN notified ) ) ) ) )

Employees have n't yet been notified


( S ( NP-SBJ ( NNS Sources ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNS meetings ) ( S ( VP ( TO to ) ( VP ( VB discuss ) ( NP ( DT the ) ( NN staff ) ( NNS reductions ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN scheduled ) ( PP-CLR ( IN for ) ( NP ( NNP Friday ) ) ) ( PP-LOC-CLR ( IN at ) ( NP ( NP ( NNP Mobil ) ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP New ) ( NNP Orleans ) ) ( CC and ) ( NP ( NNP Denver ) ) ) ) ) ) ) ) ) ) ) ) )

Sources said that meetings to discuss the staff reductions have been scheduled for Friday at Mobil offices in New Orleans and Denver


( S ( NP-SBJ ( DT This ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJ second ) ( NN round ) ) ( PP ( IN of ) ( NP ( NP ( NNS cuts ) ) ( PP ( IN by ) ( NP ( NP ( NNP Mobil ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB along ) ( PP ( IN with ) ( NP ( JJ other ) ( NN oil ) ( NNS producers ) ( CC and ) ( NNS refiners ) ) ) ) ( VP ( VBD reduced ) ( NP ( PRP$ its ) ( NN work ) ( NN force ) ) ( PP-EXT ( IN by ) ( NP ( QP ( CD 15 ) ( NN % ) ( TO to ) ( CD 20 ) ( NN % ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NNS mid-1980s ) ) ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT an ) ( JJ industrywide ) ( NN shakeout ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This would be a second round of cuts by Mobil which along with other oil producers and refiners reduced its work force by 15 % to 20 % during the mid-1980s as part of an industrywide shakeout


( S ( NP-SBJ ( NP ( NNP Mobil ) ( POS 's ) ) ( JJS latest ) ( NN move ) ) ( VP ( MD could ) ( VP ( VB signal ) ( NP ( NP ( DT the ) ( NN beginning ) ) ( PP ( IN of ) ( NP ( NP ( JJ further ) ( NNS reductions ) ) ( PP ( IN by ) ( NP ( JJ other ) ( NN oil ) ( NNS companies ) ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( JJ domestic ) ( JJ oil-producing ) ( NNS operations ) ) ) ) ) ) ) ) )

Mobil 's latest move could signal the beginning of further reductions by other oil companies in their domestic oil-producing operations


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( JJ third-quarter ) ( NNS earnings ) ( NN report ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD alluded ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 40 ) ( CD million ) ) ) ( NN provision ) ) ( PP ( IN for ) ( NP ( NN restructuring ) ( NNS costs ) ) ) ( VP ( VBG involving ) ( NP ( NNP U.S. ) ( NN exploration ) ( CC and ) ( NN production ) ( NNS operations ) ) ) ) ) ) )

In yesterday 's third-quarter earnings report the company alluded to a 40 million provision for restructuring costs involving U.S. exploration and production operations


( S ( NP-SBJ ( DT The ) ( NN report ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN restructuring ) ) ( VP ( VP ( MD will ) ( VP ( VB take ) ( NP ( NN place ) ) ( PP-TMP ( IN over ) ( NP ( DT a ) ( JJ two-year ) ( NN period ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( ADVP ( RB principally ) ) ( VP ( VB involve ) ( NP ( NP ( DT the ) ( NN transfer ) ( CC and ) ( NN termination ) ) ( PP ( IN of ) ( NP ( NP ( NNS employees ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ our ) ( NNP U.S. ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) ) )

The report says that the restructuring will take place over a two-year period and will principally involve the transfer and termination of employees in our U.S. operations