June 4, 1997

Environmental officials say New Jersey's recent ban on horseshoe crabbing in Delaware Bay is apparently being respected (New Jersey Daily Briefing) (S)

Chicago Mercantile Exchange and Chicago Board of Trade want Federal legislation to deregulate futures trading; John F Sandner, chairman of Chicago Merc, says 90 percent of exchange's trades are in financial instruments by large institutions; futures traders say they do not want or need meddling Federal chaperones from Commodity Futures Trading Commission looking over their shoulders; futures traded off Chicago exchange are subject to virtually no Federal regulation; exchanges contend that tight regulation is driving newer business overseas or into unregulated over-the-counter trading; Brooksley Born, head of Commodity Futures Trading Commission, responds; other market overseers say recent history of costly failures in trading of financial futures or other financial products known collectively as derivatives justifies vigorous regulatory and enforcement program; graphs; charts; photos (L)

Florence Fabricant reviews some new cookbooks by leading chefs; drawing; photo (M)

Interview with May-Elaine de Lencquesaing, who owns Chateau Pinchon-Longueville Comtesse de Lalande, one of France's great vineyards; photos (M)

Ford Motor Co, in major alternative fuel program, to begin building 250,000 cars, mini-vans and pickup trucks annually that can burn ethanol or gasoline; Chrysler plans similar program, which will enable auto makers to meet Federal fuel-economy standards while selling more big-profit, big-engine, gasoline-guzzling trucks and sport utility vehicles; environmentalists say plan violates spirit of standards because few stations offer ethanol and most buyers will continue to use gasoline; Ford says it hopes move will spur more stations to sell fuel (M)