November 12, 1992

Although 47 states have now approved a plan to resolve the biggest American life insurance company failure in history, New York State officials are threatening to reject it, saying it treats consumers unfairly. The dispute raises a host of questions not only about the savings and insurance of 700,000 customers of the Mutual Benefit Life Insurance Company of Newark, but also about the promise of a state-run system designed to protect consumers when life insurers fail.

"All the Social Security Trust Fund Money Is Gone!" screamed the official-looking envelope received by millions of elderly Americans earlier this year. The letter inside called for emergency action to halt "the enormous fraud that has taken place at your expense" and asked for $5 in membership dues, and an extra $5 or $10 or $15, so the United Seniors Association could keep on "fighting hard in the nation's capital to insure the rights and benefits of America's seniors are protected."

After a series of disappointments, including two occasions this year on which he was told a deal had been made only to find it had not, Arthur Dunkel, the man overseeing crucial world trade talks, says he believes an accord can be reached within the next month. "We have reached rock bottom, and now there is a chance to bring the Uruguay Round back at full speed in the next few weeks," Mr. Dunkel, the Secretary General of the General Agreement on Tariffs and Trade, said today. "Everyone knows that if we do not succeed in a very short time, it will be a very long time before we have another opportunity."

Anglicans to Ordain Women After a bitter debate that divided the clergy and the laity, the Church of England voted narrowly to ordain women as priests. The decision cheered church liberals. Page A3. Environmental Fight at Hand

The Canadian telecommunications giant BCE Inc. today announced a major alliance with Cable and Wireless P.L.C., a leading British telecommunications company, to expand their global interests and stiffen competition with American giants like the American Telephone and Telegraph Company. As part of the alliance, BCE will acquire a 20 percent stake in Mercury Communications Ltd. from Cable and Wireless for the equivalent of about $740 million in American funds.