February 28, 1991

Declaring that "Kuwait is liberated" and Iraq's army defeated, President Bush ordered allied forces on Wednesday night to suspend offensive military operations against President Saddam Hussein's isolated and battered army. Mr. Bush said the suspension, which began at midnight Eastern time, would continue as long as Iraq did not attack allied forces or launch missile attacks on any other country. In an address from the Oval Office that was televised around the world at 9 P.M. Eastern time, he called on Mr. Hussein to send his commanders to meet with allied officers in the war zone within 48 hours to settle the military terms of a permanent cease-fire.

The State Supreme Court today ordered the redrawing of New Jersey's legislative districts to proceed immediately, rejecting arguments by Democrats that the available census data discriminates against minorities. As a result of the decision, spokesmen for both major political parties parties said, a commission made up of five Democrats, five Republicans and a court-appointed nonpartisan member, is to designate new district lines in the next month.

Over the years the Grove House, a late-Georgian house in Hackney, East London, has been shorn of most of its important features, including all but one of its original fireplaces. Georgian fireplaces, it seems, are of particular interest to pilferers who want to cash in on the demand for period architectural pieces. Fireplaces like those that once graced the Grove House sell for the equivalent of several thousand dollars in architectural antiques shops in London and for even more in the United States. Ornately carved 18th-century fireplaces designed by the celebrated Robert Adam can cost more than $200,000.

Encouraged by the prospect of a quick end to both the recession and the Persian Gulf war, investors have been pouring money into stock mutual funds this month. Some fund managers say that sales are proceeding at a record pace. "The money just flooded in," said Chrissy Snyder, a spokeswoman for the Janus Group of funds. "January was an excellent month, and February beat it." She said that on several days in February, more cash flowed into the group's funds than on any previous day.

Reacting to losses in real estate, "junk bonds" and leveraged buyouts, the Westinghouse Electric Corporation said yesterday that it would write off $975 million of losses in its finance subsidiary. As a result, it slashed its previously reported fourth-quarter profit of $284 million, or 97 cents a share, to a loss of $449 million. The company said it planned to shrink its Westinghouse Financial Services Inc. subsidiary by about 25 percent by selling about $3 billion of its approximately $12 billion in assets, including $500 million in junk bonds. Paul E. Lego, chairman of Westinghouse, said the action was being taken "in light of the continued uncertainties in the financial services industry."