August 20, 1992

The Economy American exports and imports both set records in June, leaving the trade deficit slightly narrowed at $6.59 billion. The Bush Administration hailed the results -- particularly the exports -- as evidence of renewed economic strength, while Democrats interpreted them as showing stagnation. [ Page D1. ] Securities officials are attacking a plan that lets AIDS patients get some money from their life insurance -- by selling their policies to companies that resell them to investors. Although patient advocates laud the plan, state securities administrators say it creates a speculative futures market in death. [ A1. ] Companies No, Virginia, the Rockies are out West. A Federal judge upheld Anheuser-Busch in "hoisting Coors by its own petard" in ads that attacked the Colorado brewer, which advertises "the taste of the Rockies," for adding Virginia water to beer sold in the East. [ D1. ]

The nation's persistent trade deficit showed scant improvement in June, narrowing only slightly to $6.59 billion as both exports and imports hit record highs, the Commerce Department said today. The Bush Administration was quick to greet the report -- which showed exports of $38.28 billion, a 7.2 percent increase from May's level -- as a sign of renewed economic strength in the United States. "President Bush's leadership and experience in promoting America abroad is paying off in dividends for us at home -- in the form of jobs and economic growth," Commerce Secretary Barbara H. Franklin said in a statement. Criticism by Democrats But as Democrats were quick to point out, the gain in exports was balanced by a 4.7 percent increase in imports, to $44.88 billion, and the overall trade deficit remains far above its level last winter and most of last year. "In the first few months of this year, it looked like significant progress was being made, but that has gone out the window now," said Representative Robert T. Matsui, a California Democrat on the House Subcommittee on Trade.

NEW YORK CITY MISTAKEN IDENTITY LEADS TO DEATH A 35-year-old bodega employee was beaten to death by a band of 6 to 15 young men in the Belmont section of the Bronx, and the only witness to come forward has told the police that the victim was a bystander slain in a case of mistaken identity. A1. 2 SCHOOLS OF THOUGHT ON THE HOMELESS The warning by New York City's Housing Authority that it cannot keep setting aside 2,000 apartments a year for homeless families without jeopardizing the stability of its projects reveals sharp disputes and poor coordination on the homeless inside the Dinkins administration. News analysis, B3.

THE competition was heating up. "O.K., David, give it all you've got." "Two hands, Freda. Smack it!" "Over the net, Murray. Over the net!" The pink, carpeted room sounded like a noisy gymnasium, with players on both sides of the net urging teammates to go all out to keep the ball in the air. The score? Don't ask.

The AMR Corporation, the parent of American Airlines, told analysts yesterday that it would have a heavy loss in the third quarter, normally one of the strongest for the industry, since it is when summer travel is at its peak. Michael Durham, American's chief financial officer, said only that the loss for the third quarter would be higher than its operating loss of $48 million in the second quarter. The airline earned $70.3 million in last year's third quarter.