European Stars And Stripes (Newspaper) - July 28, 1985, Darmstadt, Hesse                                July 1985 the stars and stripes Page 19 loaning less to poor nations with poor credit Washington a poor countries have been slow in repaying Loans to Banks and new lending is unlikely to pick up for some according to one Ameri can International banking Banks reduced their total Loans to Les developed countries in 1984 by nearly 3 according to the new Issue of world financial the monthly publication of the Morgan guaranty Trust company of new there is no evidence that net voluntary lending to countries that have experienced debt problems has resumed since it the report distinguishes Between voluntary lending by the Banks and Loans made under pressure from the inter National monetary the owned by 148 govern in recent years has refused to lend its Money to financially troubled countries unless Banks much of the new Loans go to pay the interest on old but poor countries also need new Money from abroad for investments that will create jobs and increase with the reduction in Bank there also has been a reduction in official despite the urging of world Bank president Clausen and if managing director Jacques de savings from other countries in recent years have streamed into the United states As investors seek a Safe the interest has piled up on some old debts in poor coun and Banks outside the United states have been making new though at a slower Pace than in the the Bank for International settlements in put the total owed to private Banks by poor countries at the end of last year at of which billion came from the world Bank estimates that total lending to poor including Loans by governments and intergovernmental bodies like will be Over billion at the end of the drop in 1984 in the amount poor countries owe Banks was nearly while the total Loans to latin America increased by billion an amount considerably less than the total Given to latin american countries through the world Bank under if investors guide Star of the Assembly line up photo Ford motor chairman Donald Peterson drives the first Ford Aerostat minivan out of the Plant in As Ford joins the other big automakers in the growing minivan Chrysler and general motors already have minivans on the Parker pen frying for turnaround the ailing writing instrument group of Parker pen is cutting its losses and turning a but a turnaround is not guaranteed unless the Divi Sion increases its Domestic sales and Lowers its says president Mitchell the problems Are but they certainly have not said who was promoted to company president in february from parkers subsidy manpower by William Doyle my wife and i would like to invest in Treasury radio and television talk shows say those notes Are yielding in the 11 percent to percent How can they Tell what the going interest rate is when that is determined at the time the govern ment Sells notes either you Haven tuned in on a discussion of Treasury note yields for a or the people on those talk shows didst know what they were talking interest rates in general have come Down and so have the yields on Treasury notes and other fixed income As i write no Treasury note is yielding 11 although it takes some complicated math the yields on All fixed income securities can be youre Correct about the interest rate in each Treasury note being determined when the Treasury depart ment Sells those particular but after the notes Are they can be bought and sold in the marketplace at prices that might be higher or lower than their face value depending on Market when Bond prices go As they have the yields on fixed income securities go heres an example in november of the trea sury sold billion of 10year because interest rates were the government had to pay 13 percent on that note the Treasury pays interest annually on each face amount note of that Issue and will redeem it at on As i write the asked quotation for that partic ular note Issue in the Market is 113 for each face at that the yield to maturity on those notes is per the yield to maturity is figured by dividing the an Nual interest by the Market Price and then making a Complex adjustment for the fact that the note will be paid off at face value when it reaches i wanted to Purchase face value of percent Treasury maturing in november my broker said those notes were quoted at an asked Price of 119 for a percent but he told me i would have to pay More than Why if i pay a higher wont my yield be lower your Purchase Price would be higher because the quoted Market prices on Treasury As Well As trea sury Bills and Are for transactions of million and smaller amounts Are Odd for which you pay More when you buy and get less when you your yield would be lower than the quoted if you pay More than the quoted your broker should be Able to Tell you exactly what the yield would be by consulting a basis that a volume containing tables showing the yields on fixed income based on Price and length of time to every brokerage office and Bank has one or should have cant i avoid paying More than the going Market Price for Treasury notes or Bonds by buying them when they Are first sold by the Treasury department you can Purchase Treasury notes or Bonds at the time they Are offered for Sale by submitting a tender to your District Federal Reserve there Are 12 such Banks and 25 branches around the your local Bank can give you the address of the one serving your we Are moving in a few months and have been contacting insurance companies and other institutions for change address we have done All right so except for the Bureau of the Public which never we have Treasury Bills and whom do we Contact to change our address to those make your change of address request on form pm which is available from any Federal Reserve Bank or mail that form to Bureau of the Public department registered accounts Washington that form should have been sent to you when you contacted the Bureau of the Public debt in the first a company officials Are studying several options for reducing its million to million said a Sale or spinoff of the division is one others involve forms of refinancing the debt or issuing More the company has taken Steps to trim losses in its writing including automating its Janesville cutting employment Levels and trimming its product line from about 500 items to about to increase Domestic which now account for Only 25 percent of total Fromstein said the firm will need some new innovative products and an aggressive Market ing another another shape int theres too much of that Fromstein going to be a major it will take at least five years to bring Domestic sales up to his goal of 50 percent of total he figures show the writing instrument group made a million operating profit for the first Quarter of this fiscal that gives corporate executives new Confidence of making a the division lost million for the same period last Overall in the first Quarter of this fiscal Parker had an operating profit of As compared to a profit of million last sales were up from Parker had sales of million for fiscal year up from a 1984 level of the writing instrument lost million in fiscal year 1985 compare to a million profit the previous company officials May boast Success in cutting losses in the troubled writing instrument but officials and analysts agree the recent pickup does not equal a solid future for the a Strong Dollar abroad has Cut deeply into parkers Export with 75 percent of the writing instrument group products sold in foreign the results Are said Stephen a Robert Baird vice president and Fromstein has said the company has seen the worst of the damage caused by the overvalued Keane saying the danger to the company is in writing the question do you get rid of it or do you fix the other question is who wants it the condition of the Dollar is so important to parkers writing group that Keane declined to make a firm prediction on the divisions future or on whether it will be William Parker bristled at speculation about an upcoming theres been too much speculation about a Harrigan its unhealthy and probably not War other options include closing the Janesville Plant parkers Only Domestic factory and making its products in existing foreign Keane