LEAD: The huge, long-awaited plan for redevelopment of Times Square is moving closer to reality as the directors of the Urban Development Corporation are expected today to authorize long-term leases with one of the project's largest development concerns.

Action Due on Times Sq. Plan

LEAD: Jan Carlzon, the tall, blond 46-year-old president of Scandinavian Airlines System, is Sweden's answer to Lee A. Iacocca: a charismatic executive who revitalized a major corporation and then wrote a runaway best seller about his managerial exploits.

MOMENT OF TRUTH FOR S.A.S. HEAD

LEAD: As the stock of Societe Generale de Belgique soared 16 percent today in fevered trading, an alliance of largely Belgian institutions said it held a 27.5 percent stake in the company.

Flemish Bolster Societe Generale

LEAD: J. P. Stevens & Company, the giant textile producer, has received a $696 million leveraged-buyout proposal from five of its top executives, the company's board said yesterday.

Buyout Bid Is Received By Stevens

LEAD: Salomon Inc., the parent of one of Wall Street's largest securities firms, announced late yesterday that it lost $74 million in the fourth quarter because of trading losses stemming from the stock market collapse and a series of moves to restructure its troubled operations.

Salomon Loses $74 Million in Quarter

LEAD: A commission of historians charged by the Austrian Government to look into President Kurt Waldheim's wartime record reported today that he must have been aware of atrocities committed around him and did nothing about them, and that he tried to conceal his military past. But the panel said it had no evidence that Mr.

Inquiry for Austria Declares Waldheim Knew of War Crimes

BUSINESS DIGEST: TUESDAY, FEBRUARY 9, 1988

LEAD: During the month of December, the window casing in Theresa Santiago's bathroom, for months twisted and swollen by water damage, finally fell out of the wall and crashed into her bathtub.

The Ruin of a Building Owned by New Yrk

LEAD:  Settler Kills Palestinian  A Jewish settler killed a Palestinian youth in the West Bank as protests called to mark two months of unrest continued for a second day. Page A6.  U.S. Troops and Panama  Panama's leader called for American military headquarters for Latin America to be withdrawn.

INSIDE

LEAD: Pat Robertson's ''invisible army'' came out in force tonight for the former television evangelist, helping him to reshape Republican Presidential politics.

Almost 'Got to Give God Credit,' Robertson Says in Thanking Staff

LEAD: An unmanned Delta rocket launched a three-ton military satellite into space yesterday afternoon as part of the most complex and costly experiment yet in President Reagan's anti-missile program.

MILITARY SATELLITE LAUNCHED TO TEST ANTI-MISSILE PLAN

LEAD: A Federal appeals court ruled unanimously yesterday that the Federal Reserve Board was legally correct in allowing banks to underwrite certain types of securities through special subsidiaries.

Court Backs Fed on Bank Underwriting

LEAD: Mikhail S. Gorbachev announced today that the Soviet Union would begin withdrawing its troops from Afghanistan on May 15 if the Geneva talks on the war there result in a settlement two months before that date.

SOVIET SETS MAY 15 AS GOAL TO START AFGHANISTAN EXIT

LEAD: Alarmed by a steep decline in the number of ducks and other waterfowl in North America, the United States and Canada are embarking on a last-ditch effort to rebuild the flocks of the migratory birds.

Urgent Effort to Save Ducks Begins in U.S. and Canada

LEAD: Rudolph W. Giuliani announced yesterday that he would stay on as the United States Attorney in Manhattan and would not challenge Senator Daniel Patrick Moynihan this year.

Giuliani Announces Decision Not to Run For Moynihan Seat

LEAD: USING beams of intense sound pitched above the limit of human hearing, scientists are learning to create novel substances that are expected to spawn remarkable technologies in the next century.

Sound Is Shaped Into a Dazzling Tool With Many Uses

LEAD: The Armour Pharmaceutical Company introduced a major drug in October - the first blood-clotting factor for hemophiliacs made using the tools of biotechnology. This purer version of Factor VIII virtually eliminated any chance that hemophiliacs would contract AIDS, hepatitis or other diseases from treatment.

The Troubling Cost of Drugs That Offer Hope

LEAD: THE Eskimos have about four dozen words to describe snow and ice, and Sam Colbeck knows why.

For Snow, the Real Action Begins After It Falls

LEAD: Senator Bob Dole of Kansas won a clear victory in the Iowa Republican caucuses tonight, and Pat Robertson, the former television evangelist, pushed Vice President Bush into third place.

Dole Wins in Iowa, With Robertson Next

LEAD: Rupert Murdoch said yesterday that he would close The New York Post in 11 days unless its unions accept cuts totaling $24 million over the next three years to enable him to sell the beleaguered newspaper to a New York real-estate developer.

Murdoch Sets Deadline to Close Post

LEAD: Nicaraguan rebel leaders said today that they had set up a fund to collect private donations in the United States and that they would postpone peace talks with the Nicaraguan Government scheduled for this week.

Contra Leaders Set Up a Fund For Aid in U.S.

LEAD: You are supposed to be 21 to gamble in an Atlantic City casino, but Kim Cohen started at 15, first with slots, then blackjack. ''My girlfriend said: 'Why waste time on the slots? Make it faster at blackjack,' '' Kim said. One day, this friend had 10 minutes to kill before her after-school job - and won $40.

Our Towns; Trying to Tell Us We're Too Young For Blackjack

LEAD: The Manhattan Public Administrator, whom state officials recently accused of mismanaging the estates of people who die without proper wills, said yesterday that he would resign upon the appointment of a successor.

Administrator For Surrogates Will Resign

LEAD: With the sweeping revisions in the tax law, taxpayers searching for last-minute ways to trim their income tax bills will need to turn to some new strategies, as well as some old ones.

Some New and Old Tactics For Last-Minute Tax Trims

LEAD: THERE was wonderment, not to mention a dash of skepticism, in some financial circles when the Dun & Bradstreet Corporation announced Sunday that it was buying I.M.S. International, a medium-sized company that collects and sells facts about the drug industry. Why, some people wanted to know, would Dun & Bradstreet, the big information services company, agree to exchange more than $1.5 billion in stock for I.M.S., which had estimated earnings in 1987 of less than $45 million?

February 9, 1988

Headlines from February 9, 1988

Action Due on Times Sq. Plan

MOMENT OF TRUTH FOR S.A.S. HEAD

Flemish Bolster Societe Generale

Buyout Bid Is Received By Stevens

Salomon Loses $74 Million in Quarter

Billboard 200

Faith

Tiffany

Dirty Dancing

Kick

Bad

Historical Context for February 9, 1988