An elastic description of media characterized by interparticle interac
tions having a short and a long range part is presented. The bulk equi
librium equations, whose solutions correspond to the actual deformed s
tates, are obtained. This formalism is used to describe lyotropic nema
tic liquid crystals doped with magnetic grains. For these materials we
predict a new type of orientational instability, due to the magnetost
atic interaction among the magnetic grains. (C) 1998 Elsevier Science
B.V.