The Battalion Thursday -July 17,19! Dow makes surprising advances | Bosnian violence With average at more than 8,000, heightens with explosion, murdet investors are cautious but confident NEW YORK (AP) — 10,000 by 2000? With millennium markers falling like dominoes in the path of the mighty Dow Jones industrial average, it’s not such a far-fetched notion anymore. Yes, caution remains the catch word after the Dow’s surprising nine- month romp past 6,000, 7,000, and, on Wednesday, a 63.17-point ad vance to 8,038.88. There were, after all, extremely tense moments just last summer and once again this spring when it seemed Wall Street’s joy ride might come to a crashing halt. Back then, few forecasters were bold enough to predict the lightning speed of the ensuing rebounds, and fewer still dared set targets as lofty as those the Dow and other stock mea sures have since reached. Yet, there’s been significant change afoot in the market over the past year, and not only in stock prices. Slowly but surely, the Wall Street exuberance that had Federal Reserve chairman Alan Greenspan so wor ried in December is seeming less and less irrational. Where 6,000 and 7,000 pro voked considerable anxiety— Has the market gone too far too fast? — the predictable shower of doubt that has greeted the Dow’s most recent exploits has been sprinkled with an unusual dose of confi dence, as if to say, “There’s some method to this madness,” and, “The best is yet to come.” None of this would be possible, of course, without ordinary Americans who continue to shov el savings into stock mutual funds, fueling market demand and pushing prices higher — a self-fulfilling investment prophe cy. But it hasn’t hurt that the eco nomic backdrop has been nearly utopian in recent months. Milestones of the Dow Jones Industrial Average DOW JONES INDUSTRIAL AVERAGE Nov. 14, 1972 Jan. 8, ’87 Apr. 17, '91 Feb. 23, ’95 1,000 2,000 3,000 4,000 Nov. 20, ’955,000 Oct. 14, ’966,000 The Dow has been reaching its thousand-point milestones Feb. 13, ’97 7,000 in ever-decreasing periods of time. July 16, ’97 8,000 AP Clinton selects Shelton to lead Joint Chiefs WASHINGTON (AP) — Army Gen. Henry Shelton, President Clinton’s choice to chair the Joint Chiefs of Staff, is a nontraditional warrior experienced in combatting the terrorist threats and other “operations short of war” challenging U.S. security. Clinton was expected to make the choice of his top military adviser public on Thursday. Of ficials confirmed the selection Wednesday after Shelton met with Clinton and Defense Secretary William Cohen at the White House and later hud dled alone with the president. Senate confirma tion will be required. Shelton, 55, a craggy-faced, 6-foot-5 general, heads the Special Operations Command, based in Florida. Little known outside military circles, he has won praise among his peers for deftly managing the 1994 U.S. military operation in Haiti, which switched at the last minute from a combat-style invasion to a less hostile troop move. He was a commander of helicopter forces in Desert Storm and in special forces — once dubbed “Green Berets” — in Vietnam. Shelton is a nontraditional choice for chair man. With a background in the Army’s “light” in fantry and multi-service Special Operations units, he is unlike the tankers, jet fliers or ship drivers who have served as Joint Chiefs chairmen in the past. Instead, he is the four-star commander of elite troops who hail from the Army, Navy and Air Force. Designed to operate without fanfare, they respond to a variety of nonconventional threats — terrorism, insurgencies, sabotage — and work with foreign militaries and local populations in coordination with heavier forces. Shelton said of his troops in a recent article pub lished by the Pentagon, “They serve in the shad ows against elusive foes and targets, in extremely Gunfire exchanged on Korean border of North and South I japan Koreans exchange! heavy gunfire Der Line marcation ^JAPAN AP SEOUL, South Korea (AP) — North Korean soldiers exchanged heavy gunfire Wednesday with South Korean troops in the most serious clash on the Korean penin sula in almost a year. North Korea said several of its sol diers were wounded in die exchange and accused South Korea of a “grave armed provocative act.” South Korea called it an “intentional provoca tion” by North Korea. No South Korean casualties were reported. It was the most serious clash be tween the rival Koreas since Sep tember, when a North Korean sub marine went aground off South Korea’s northeast coast. A massive hunt for its occupants ended with 24 North Koreans killed and one captured. Thirteen South Korean soldiers and civilians also died, some from friendly fire. Wednesday, South Korean bor der guards spotted at least seven North Korean troops on the south ern side of the demilitarized zone and ordered them through a loud speaker to withdraw, South Korea’s Defense Ministry said. When the North Korean soldiers failed to respond, South Korean soldiers fired some 200 warning shots into the air, the ministry said. The North Koreans fired their ri fles at the South Korean soldiers, the ministry said, and tire southern guards then directed fire at the north erners with machine guns and rifles. Northern soldiers at a guard post across the border returned fire with 10 mortar rounds and two more rounds of unidentified ar- tillery, the ministry said. South Korea called for a cease fire 45 minutes after the initial gun shot. The North Koreans stopped shooting shortly thereafter. In a report carried by its official news agency, the North denied its soldiers crossed the border and ac cused the South of obstructing "the routine patrol duty” of its soldiers. “The people’s army soldiers were compelled to take self-defen sive measures under the grave sit uation,” the North’s Korean Central News Agency said. It said soldiers were seriously injured and outpost buildings de stroyed, but did not specify how many soldiers were hurt. The South Koreans fired some 3,000 shells and bullets, the North Kore an agency said. harsh, as well as permissive environments ... and increasingly in the high-tech realm of cyberspace.” He noted that his troops “are not designed to win wars single-handedly, but they can help pre vent and deter them.” For the next decade, the nation can expect “operations short of war” to dominate the nation’s security concerns, he added, perhaps in an indication of where he will help steer the military. He beat out several other candidates for the post, including NATO Commander Wesley Clark, Marine Corps Commandant Charles Krulak and Army Chief of Staff Dennis Reimer. He would succeed the current chairman, Gen. John Shalikashvili, who is slated to retire at the end of September. Air Force Gen. Joseph Ralston had been the front-runner for the top post until reports sur faced of an extramarital affair he had had sever al years ago. TUZLA, Bosnia-Herzegovina (AP) — With foreigners moving against war crimes fugitives, Bosn ian Serbs have lashed out with whatever’s at hand. One U.S. sol dier was stabbed from behind with a sickle on Wednesday, and a grenade exploded near the house of a U.N. employee — the third such blast this week. The stabbing occurred less than a week after NATO troops made their first raid to seize Serb war crimes suspects. It was the first assault to wound or target a member of the NATO-led peace force since last week’s raid on war crimes suspects in northern Bosnia. The tougher Western approach has stirred Serb anger, particular ly with Americans. Bombs have destroyed vehicles and damaged buildings housing international officials. Leaflets have threatened Americans and others. Early Wednesday, a hand grenade exploded near the house of a U.N. employee in Prijedor, the third blast this week targeting in ternational officials. Few details were released of the attack on the U .S. soldier at a lone ly outpost in Serb territory. West ern officials and local Serbs said the attacker may have been noth ing more than a foiled thief. U.S. soldiers said they felt comfortable with security. “1 feel more secure here than at home,” said Staff Sgt. Mark L. Geiger, 32, of Pittsburgh, “because here I have 8,500 soldiers who are ready to help at any time.” Others said they thought Bosnia's chaotic traffic k claimed one American life this week — was more danger than politically motiws violence. There are no evident! creases in security. CCI feel more secure here than at home because here I have 8,500 soldien who are ready to help at any time.” DU Staff Sgt. Mark L. Geiger|e Stationed in Bosnia 30 J I However, the attack hi ed just how isolated some of tk peacekeeping troops are-po tential targets for angry Serbs. The ITS. soldier, whowasnot identified, was part of a liaison team between the peace force and „ ei Serb ollicials inVIasenica,35miles Mt northeast of Sarajevo. I he team is based in a house. , Local Serbs said they thoughtth! ’Oh attack occurred around 3 am, when the soldier went out check on a commotion. U.S. Army spokesmen inluzla said he was stabbed from behind with a sickle, and received ment for a 2-inch to 3-inch shoul der wound before being released oo!| Svel |oil ton I ‘xal opeti Conditions in North Komi blamed on food shortages BEIJING (AP) — Food shortages in North Korea have grown so acute that more than a third of its children under 6 are malnourished, said an aid worker who displayed pho tographs Wednesday of youngsters with stick-like limbs. Devastated by two years of flood ing and poor harvests, the commu nist country still needs massive for eign aid to stave off widespread famine, said Kathi Zellweger, who had just returned from a North Ko rean tour for Caritas, a Roman Catholic aid agency. “We are moving into a very, very serious situation if we don’t help them now,” she said. Even as the nation teeters on the brink, North Korea’s own efforts to get help have been hampered by its deri ttieal ideology of fierce self-reliance audits mil i tary standoff with South Korea. The border between the Korea: flared anew Wednesday in an ex change of fire each side blamed oi the other. North Korea said sevei of its soldiers were wounded; Soul Nwl Korea reported no injuries. as The Clinton administration hoping for what it calls a soft land He c ing for the communist regime initi Ellis north. The other option would be bhis regime dominated by astrongml I mo tary that might see its only salvatie tons in acts of conflict. ‘the Zellweger reported that No: ! groi Korean officials, desperate o« dRal the growing food calamity, ha|“Ice become increasingly flexible eager for help from foreign groups. Get Away for A Taste of Summer! ART IN THE ^ “REAL WORLD” A Road Trip to Houston Thursday, July 24. Leave campus at 1pm. Return to campus by midnight. FREE transportation and museum admission for A&M students. $20 for non-students. Please make checks payable to “MSC Visual Arts Committee.” On exhibit at the Houston Museum of Fine Arts: JEWELS OF THE ROMANOVS Treasures of the Russian Imperial Court We’ll have dinner at one of Houston’s many fine restaurants. Bring money for dinner! (We’ll keep it around $10 ea.) PART-TIME POSITIONS Sign up IN PERSON by 5pm Monday, July 21 at the MSC Forsyth Center Galleries (across from the Aggieland Post Office). Space is limited to 36 people. For more information please call 845-9251. Memorial Student Center htlp.YAvwwmsc.lamu.edu Visual Arts Committee http://vac.tamu.edu