January 8, 1999

Morgan Stanley Dean Witter & Co and Lehman Brothers Holdings Inc beat estimates for their fourth-quarter earnings; Morgan Stanley says net income for quarter ended Nov 30 rose 51 percent, to $1.2 billion compared with $810 million in year-earlier period; Lehman had net income of $74 million in quarter, down 60 percent from $185 million in period a year earlier (Market Place column) (M)

Autos on Friday column on problem of accidents in roadway construction zones; photos (S)

Clyde Haberman NYC column says merchants and residents in Chinatown fear that City Hall will again outlaw their cherished tradition of setting off firecrackers to celebrate Chinese New Year; says that for Chinese, there is spiritual meaning in noise and smoke of firecrackers; notes that Mayor Rudolph W Giuliani banned firecrackers as supposed menace to public safety, yet City Hall cannot say what serious injuries have been suffered in past in Chinatown; says Giuliani should bend a bit and allow Chinatown its firecrackers (M)

Basil Twist discusses his elaborate underwater puppet show Symphonie Fantastique, presented at Here performance space; photos; Twist, 29, is precocious puppet master who is only American ever to graduate from France's Ecole Superieure Nationale des Arts de la Marionnette (M)

George Vecsey Sports of The Times column says it has been easy to ridicule National Basketball Assn players for their extravagances, as well as brash behavior of young set; says vast majority of NBA players are generously passing some of their huge salaries to mothers and other family mmebers and friends; says players finally knew it was time to go back to work (M)