June 29, 1995

A bill intended to stimulate the development and expansion of biotechnology and other high-tech industries in New Jersey was signed into law yesterday. The bill authorizes the State Economic Development Authority to establish a financial assistance program for new and growing companies that are often considered too high-risk to meet the agency's criteria for loans, said State Senator Robert W. Singer, a Republican of Ocean County and one of the bill's sponsors. "This is a response to where we felt we were going as a state as to future jobs," Senator Singer said.

The police were searching for a man who shot four people while they were sitting on a lawn in front of an apartment complex in the South Ward section of Newark. The gunman stepped out of a car on Tuesday night and fired before the car drove off, Detective Daniel Collins, a police spokesman, said. Three residents of the neighborhood -- Wendy Davis, 22; Larry Hill, 23, and a 16-year-old girl, whose name was not released -- were in stable condition yesterday at University Hospital after being treated for gunshot wounds. Both Ms. Davis and the teen-ager underwent surgery for torn livers. A fourth neighborhood resident, Sultan Mack, 22, was treated for a gunshot wound to his right arm before being released. The police did not say what prompted the shooting.

China Shows Anger at U.S. By detaining two prominent dissidents, China has served notice on the United States that it does not intend to make concessions to end the downward spiral of relations between the countries. Page A8. Schools Takeover in Chicago Chicago's Mayor will effectively take over the city's schools today by announcing his choices for a five-member school board. Page A14. Maternity Bill Passes Gov. Christine Todd Whitman signed a bill requiring insurers to pay for a second day of hospital maternity care, making New Jersey the second state to regulate what critics call "drive-through deliveries." Page B1.

A former senior associate at Cravath, Swaine & Moore, the blue-chip Wall Street law firm, and his brother, pleaded guilty to insider trading. Article, page D1.

U.S. and Japan Set Deal With Just Hours to Go With just hours left before $5.9 billion in sanctions were to kick in, the United States and Japan found common ground on automotive trade. After long, turbulent talks, the key bargainers proclaimed a new era for two scrapping nations. But a close look shows an accord that is often deliberately vague and may fall short of President Clinton's goal of cracking open Japan's markets. [ Page A1. ] On Capitol Hill, praise was cautious and muted. Some Democrats wanted more, while Republicans fretted about confrontational tactics. And Phil Gramm said, "The President was only shooting blanks." [ D7. ]