April 22, 1991

New York City officials readily concede that Gov. Mario M. Cuomo plays politics at a level far above theirs, a level that one aide to Mayor David N. Dinkins likened to three-dimensional chess. In rosier times, there might have been an esthetic appreciation of the Governor's mastery. But amid this year's frenzy of fiscal distress, there is a growing frustration -- and confusion -- among city officials about moves that Mr. Cuomo has made in recent weeks.

Without fanfare, Washington has begun to turn over to private interests the exclusive rights to the multibillion-dollar harvest of fish off the United States coast. Since 1976 the Federal Government has controlled the right to fish up to 200 miles off the coast, and in most cases it has allowed any American with a boat to do so. Washington is now allowing eight regional councils dominated by local fishing interests to hand out exclusive rights to the catch, transferrable rights that could be worth tens of billions of dollars.

There is no grander spectacle than New York Harbor's imperial skyscraping backdrop, the scene that attracts countless tourists to the sightseeing boats that focus on concrete canyons and the tracery of soaring bridges. With all that to see, it seemed curious perhaps that the 240 harbor buffs gazed coolly at all that magnificence but warmed themselves on a chilly, dank Saturday, with a voyage to rotting hulks, oil ports, tugboats, container depots and a waterfront that seemed dismally more a still life than a motion picture.

The J. C. Penney Company had high hopes that by now it would be enjoying the fruits of its 1987 transformation from a full-line department store to primarily a clothing store. Instead, it has run into a buzzsaw of problems that are cutting heavily into sales and earnings.

Companies A.T.& T. said it had raised its offer for NCR to $110 a share, from $90, provided that it could qualify for favorable accounting treatment and pay for the deal with its own stock. NCR said it would study the offer. [ Page D1. ]