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Publication: European Stars and Stripes Friday, May 31, 1968

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   European Stars and Stripes (Newspaper) - May 31, 1968, Darmstadt, Hesse                                Friday the stars and stripes Page 5 franc practically unsaleable . Gives $100 million credit to help France remarkable Market employees ready an unusual Supei Market in Harlem for the opening Day. Why is it unusual be cause for the first time shoppers in the negro area share in the ownership and the profits of a cooperative Market venture. Up by United press International the . Dollar whose own stability was threatened for weeks during president Charlesze Gaulle s March Gold buying spree acted thursday to Stead the skidding French franc. The Federal Reserve ban granted France a $100 million credit to help the franc Over crisis brought on by current French political turmoil. Even As the credit was announced Many european Bank ers said they could no longer take the risk of buying francs and closed Down franc buying operations. In Switzerland the Basel base Bank for International settlement Bis j which stepped in tuesday to help the franc As it had to Aid the Pound Sterling in Pride value Tion difficulty also withdrew its support. The drastic weakening off r a n c e s monetary Structure awakened the Specter of another French devaluation. Such a development could trigger another upheaval in world currencies according to economists. Swiss Bankers warned thurs Day that if the franc plummets to ruin it can drag the entire Western Money system with it. With the plunge in the franc s value the British Pound crashed to an All time Low. But British financial quarters Are not con Vinced that France will be forced to devalue. They Point to the huge Gold reserves of Between $5 billion and $6 billion painstakingly piled up by de Gaulle at the expense of the Dollar. The franc said Central banker who make up the Bis has be come practically  Only wednesday the Bis kind of Clearing House for the world s great Central Banks had offered to Exchange unlimited amounts of . Dollars for French francs turned in by Swiss Banks. 40 russians die in blast 200 injured Moscow up forty people were killed and about 200 injured when an explosion in a fireworks storeroom destroyed a wooden resort hotel near the soviet City of kirov unconfirmed reports reaching Here thursday said. Travellers from kirov said the explosion occurred while the building was jammed with work ers on All expenses paid outings. Most of the victims were believed to have been from kirov. The City is about 400 Miles Northeast of Moscow. The travel ers said the hotel stood on the outskirts of town in a wooded area near the Wiatka River. The reports could not be independently confirmed Here the soviet press Seldom reports such disasters unless they appear first in the Western press and there has been no official announce ment. Fireworks traditionally Are setoff in mass quantities in the so Viet Union on May Day revolution Day and other political or military holidays. . Panel condemns traffic in women United nations up a Resolution condemning traffic i women was unanimously approved by a committee of . Economic and social coun the Resolution drafted by Theun. Commission on status of women condemns slavery the slave Trade traffic in prostitutes forced marriages the Transfer and inheritance of Wom horizontal1. Watch Over 5. Wicked 8. Prom distance 12.--Khayyam 13. Prevaricate14. Certain. 15. Number16. Letter 17. Fastener18. Seizes 20. Middle Eastern country22. War vessels 26. French cap29. A color 30. Fold31. Furnace 32. Neon 33. Greek letter 34. Fur scarf35. Blackbird 36. Burdened37. Division 40. Desserts41. Decayed 45. Pay attention 47. Garden tool 49. Scottish gaelic 50. Wings51. Sea Eagle 52. Frog genus53. Titles 64. Perceive55. Raced vertical1. Chinese society .2. Arabian ruler 3. Zola novel4. German . Three toed sloths7. Longs for 8. Attempt9. Directed to a focus10. Constella. Tion 5. 6 answer to yesterday s Puzzle. Average time of Lolu Ploit is Man Ute 11. Corded fabric 19. Caress21. Fishing pole23. Character istic24. Price 25. Breadth26. Girl s haircuts27. Bacchanalian cry28. Return to sight32.crinds Teeth 33. Teases35. Exist 36. Car game 38. Assistants39. Goddess of peace42. Ensnare 43. Anglo Saxon serf 44. Deceased45. Possesses 46. Hebrew priest 48. Native Metal we do not know where things will go but we Are very harassed one banker  Italy West Germany the Netherlands and other european nations Banks simply stopped All transactions with French franc franc quotations disappeared from Many foreign currency list Ings. Italian and German ban Smade one Concession they offered to buy Small numbers of francs to help tourists stranded with nothing else in their  rate of Exchange was predictably lower. Extremely difficult in London the franc was offered for Sale but there were virtually no buyers. Things Are extremely difficult at the moment one foreign Exchange dealer said. The Pound apparently reacting to the franc s troubles dipped to its lowest level at 52.38. One dealer suggested that the Bank of England had prob ably intervened to hold it at that level. The franc was being quoted at$12.07 to the Pound though Well below official floor prices. Financial observers likened the franc s present fix to the pres sures put on the Dollar during the de Gaulle Gold Rush. Paris financial sources said the . Credit was granted to France under a Swap agree ment guaranteeing that France or any other nation receiving such help would be obliged to reciprocate were the Dollar or Pound to be placed again in jeopardy. This was Only one mechanism the French government could use to support its currency which until the social unrest began some three weeks ago was on of the strongest in the world. Other measures available Tohe French include drawing rights amounting to close on �5billion on the International Mone Ary fund. France s external debts Are also extremely limited which increases its borrowing possibilities on International monetary markets. 6 defecting servicemen leave swedish jail Stockholm up the swedish aliens commission has decided to release from custody six . Servicemen who arrived Here saturday to see political Asylum. The six americans who have served in Vietnam or on Board . Navy ships in the Tonkin Gulf were detained at the Maer Sta police station after Arriva by air from the soviet Union. Avo ticket to sit in Munich up Lenin sneering at what he Felt was the germans Lack of revolutionary Zeal o n c e said that before the would storm a Railroad Sta Tion they would buy plat form tickets. Wednesday several Hun dred students protesting the impending emergency Laws staged a sit Down strike on the tracks in the Munich station. Railway officials said most of the squatters entered the area by buying the 20-pfennig five cent tickets.  3 2t srm "5t 4s 50 w a 34 it w w it m 3t in wee pals what Smy motivation get out there and set a it. Oliver proving fear can have positive values its Home run  
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