BUSINESS DIGEST: FRIDAY, JUNE 8, 1990

LEAD: Trying to improve relations with its foreign creditors, Argentina met today with leading banks in New York and made a $40 million interest payment.

Argentina Pays Debt Interest

LEAD: Manuel H. Johnson, an important voice of conciliation on the Federal Reserve Board and a leading expert on international finance, announced today that he would resign from the board in August when his term as vice chairman expires.

Johnson Leaving as No. 2 at Fed

LEAD: Every year, first graders in the East Brunswick schools take a field trip to the town park, where they learn about nature from sixth graders. It's always a pretty big deal. Many have never met an actual sixth grader. ''No, I never have,'' said Sarah Kao. Plus, first graders have a lot to learn. They admit it.

Our Towns;   Let Nature And Sweet Tarts Be Your Teacher

LEAD: A British-flag oil tanker ran aground yesterday morning while docking on the New Jersey side of the Kill van Kull in New York Harbor, spilling about 260,000 gallons of fuel oil into the waterway.

Oil Is Spilled in New York Harbor And First Mate on Tanker Is Held

LEAD: A group of private companies, universities, research laboratories and Government agencies is planning to develop an advanced computer network in which data would be transmitted at speeds 700 times faster than possible now. The plan is to be announced today by the National Science Foundation. It would be the first comprehensive effort in the United States to advance the technologically critical area of computer networks and is being called an important model for cooperation between business and government.

COMPUTER PROJECT WOULD SPEED DATA

LEAD: Because of the Upper Columbus Avenue Street Fair, Columbus Avenue will be closed tomorrow from 86th to 96th Streets from 10 A.M. to 7 P.M.

Traffic Alert

LEAD: Seeking to allay concerns among investors, dealers and employees that a leadership vacuum could develop at the Chrysler Corporation, Lee A. Iacocca said today that he would stay on as chairman beyond December 1991.

Iacocca Says He Will Stay At Chrysler's Helm Past '91

LEAD: At 24, Andrew M. Cuomo ran his father's first successful campaign for governor. At 25, he moved into an office in the Capitol and joined the ruling elite of state government. He spent his days, and many of his nights, with a telephone in one hand and a cigarette in the other, plunging from one political conflict to the next.

A Cuomo Away, but Not Far, From Albany

LEAD: Tropical forests, which play a vital role in regulating the global climate, are disappearing much more rapidly than previously estimated, an international research group said today.

Loss of Tropical Forests Is Found Much Worse Than Was Thought

LEAD: The House of Representatives today overrode President Bush's veto of legislation continuing the Federal subsidy of Amtrak, the passenger rail line, but Senate action was delayed until next week as Republicans attempted to rally support for the veto.

House Votes To Override Amtrak Veto

LEAD: THIS is a weekend for the African explorer, and you don't have to go by way of the Cape of Good Hope, either. In art, in dance and in music, the many cultures and esthetics of the big continent on the downtown side of the Mediterranean will be making a splash in Manhattan.

Out of Black Africa, Varied Perspectives Of Life and the Arts

LEAD:    FRIDAY       THE NEW SPANISH DANCE

GOING OUT GUIDE

LEAD: The United States and its major industrial partners agreed to ease strictures on high-technology exports to the Warsaw Pact, with even broader access for Poland, Hungary, Czechoslovakia and East Germany.

High-Tech Embargoes On Eastern Bloc Eased

LEAD: Addressing a major obstacle to full-scale negotiations with the African National Congress, President F. W. de Klerk announced today that national state-of-emergency regulations in effect for the last four years would be lifted in all but one of South Africa's four provinces.

SOUTH AFRICA ENDS EMERGENCY DECREE IN 3 OF 4 PROVINCES

LEAD: NEW YORK is a city of differences; in the East Village, those differences are just a little louder. The street life is livelier, the hairdos are spikier, the short skirts a bit shorter than in other neighborhoods. People in the East Village wear their differences proudly. There are more tattoos, more black leather, more white T-shirts and more guitars than anywhere else in Manhattan.

In Rocking East Village, The Beat Never Stops

LEAD: A team of scientists here has produced the nation's first genetically engineered calves, a new milestone in using advanced genetic technology to alter food-producing animals.

Texas Researchers Develop 4 Gene-Altered Calves

LEAD: The Warsaw Pact members today pronounced an end to the notion of the West as ''ideological enemy'' and agreed to study ways of transforming the pact into a democratic alliance to better stabilize Europe.

  Warsaw Pact Pronounces the End Of Ideological Conflict With West

LEAD: Nearly 9,600 Americans earned Ph.D.'s in the natural sciences and engineering in 1989. Only 133 of them were black. As small as that figure is, it was an improvement on the 1988 total of 124, and it matched the highest previous figure, reached in 1978.

Science Careers Are Attracting Few Blacks

LEAD: In a surprise announcement, Conagra Inc. said yesterday that it had agreed to buy the Beatrice Company for $1.34 billion in a combination that would create the nation's second-largest food company.

Conagra In Deal for Beatrice

LEAD: Hitachi Ltd., one of Japan's biggest electronics companies, said today that it was the first to reach a long-sought milestone in microelectronics: the development of a working prototype of a memory chip that can store more than 64 million bits of information.

Major Chip Advance Is Reported by Hitachi

LEAD: In a move that could foreshadow closer ties between the Soviet Union and American companies, the General Motors Corporation signed a $1 billion agreement in the Soviet Union today to sell auto parts to the largest Soviet car maker.

G.M. AND MOSCOW IN $1 BILLION PACT

LEAD: Jonathan Fuzzell is only a kindergartner, but he has already fallen behind at Public School 94 in the north Bronx. His teacher, Susan Kessler, says Jonathan is sweet, determined to learn and an outstanding artist. But he has missed 50 days of school.

A Truant Officer Children Love to See

LEAD: William J. Bennett, the President's national drug policy director, issued a blistering attack on Gov. Mario M. Cuomo's drug policies today and asserted that the White House has no fear of a Cuomo Presidential candidacy.

Aide to Bush Assails Cuomo On Drug Plansi

LEAD:    U.S. Arms Sale to Saudis       The Administration plans a $4 billion arms sale to Saudi Arabia. Some legislators expressed concern but did not threaten to block it. Page A5.       A Chip Milestone for Japan       Hitachi said it led the race for a computer memory chip that can store 64 million bits of information.

June 8, 1990

Headlines from June 8, 1990

BUSINESS DIGEST: FRIDAY, JUNE 8, 1990

Argentina Pays Debt Interest

Johnson Leaving as No. 2 at Fed

Our Towns; Let Nature And Sweet Tarts Be Your Teacher

Oil Is Spilled in New York Harbor And First Mate on Tanker Is Held

Billboard 200

Please Hammer Don't Hurt 'Em

I Do Not Want What I Haven't Got

Brigade

Pretty Woman

Poison

Historical Context for June 8, 1990