"President Bush acted with compassion and good conscience in his pardon, but we will not comment on Judge Walsh's report," said Andy Maner, the spokesman.

There is good reason for those involved to worry about Judge Walsh's investigation.

She used the same words in a letter to Judge Walsh in October 1990.

Her decision to vote to convict, she said, was based upon a statement by Judge Walsh that no future jury was likely to hear more or better evidence.

His lawyer suggested in court yesterday that he would ask Judge Walsh to stay his order.

But Mr. Icahn said Judge Walsh only saw an early proposal outlining a bid of $575 million.

"The financial condition of Win-sted Memorial Hospital is more than precarious," Judge Walsh wrote in his decision.

The material has been turned over to Judge Walsh and to the Presidential review board led by former Senator John G. Tower.

The losers have 10 days to appeal Judge Walsh's decision.

"The job is probably 5 to 10 percent knowledge of the law and 90 percent common sense," said Judge Walsh, who spent 26 years in the city's Police Department.