European Stars and Stripes (Newspaper) - September 25, 1985, Darmstadt, Hesse Page 2l the stars and stripes wednesday september 25, 1985 if vets pay quiet homage to Theka Falhen by Al Leavis Slaff writer St. Avold. Prance . Veterans of the 70lh in div slipped into the . Military cemetery Here monday morning four hours ahead of their original schedule to pay their respects to their fallen. The reason for the change probably was a planned demonstration by jews against any participation mar is members in a Wreath laying cd run i cannot confirm that said get Bact linger the superintendent of the la Cut of Merican cemetery and memorial. I ciricj0l�mrni thai the . Vets arrived Here with about 50 persons All told at 11 11 30." Jakc Lorraine cemetery is the largest american world War ii cemetery in Europe. There Are 10,489 american soldiers and airmen buried Here in View of part Oft former Maginot line. �. Vets first planned . Criticism from jewish in of cab Betuk Sivility of demonstrations Edify their plans. _ n., about 500 including the grand rabbis of Strasbourg and mct7aatalltit the cemetery to hold a yom kippur ceremony. Jacques Hanau the head of the jewish Community St. Avoid spoke in tribute to the fallen americans. He reminded the audience that they died for Freedom and added we Hope not in the jews he said will do All within their Power to prevent the horrors of nazism happening again. The sacrifice of the americans shall remain forever Etche Lanau said. After the service several participants said they were sorry they did not meet with the . Vets. All said they came to the ceremony mainly because they heard is veterans were going to be there. A 50-Man contingent of germans from the Van Union of nazi persecution victims attended the serv ice. Theodore my scr of the Van said they also came to demonstrate against the is. Jet Vienne Lavaux the regional chief of police said he inc Hension when he first heard of the dam has really turned into a rallying Point for theujtanjav4 find it All very the . Wreath laying ceremonies in bad a nah bad Piaf Scneck near Koblenz before they return to the United states. Long lines of military Banks Mark Dollar drop in Europe by the stars and stripes lines lengthened at military banking facilities monday As thousands of custom ers sought to beat the plunge of the Dollar Agai european currencies. In Britain american express military Bank manager Jonathon Sutton reported at Raf Mildenhall that business was appreciably busier than usual with a significant number of people cashing in Large amounts of dollars for pounds. He speculated that people were probably speeding up transactions that they had planned on making later in the week. On monday american express was Selling pounds for $1.38, As opposed to a British Bank in neighbouring Mildenhall which was Selling pounds for $144.60. American express set the rate for tuesday s transactions at $1.45 to the Pound. A British banker in Mildenhall reported that his Bank had had a Busy Day Al though nothing he would Call dramatic with americans pulling Money out of their Dollar accounts. American customers who took their dollars from commercial accounts to military Banks could take advantage of the 6-cent spread in the Dollar to Pound rate. American express could offer the better rate because it was based on the Price the Bank paid for pounds Friday the last pre Vious banking Day with it of one percent added to come up with monday s rate. Monday s 2.86-Mark Exchange rate shrivelled to 2.70 Marks for tuesday a drop of 5.6 percent the largest one Day decline of the year. Those who took advantage of the rate on monday had been alerted by Media speculation monday morning that a rapid drop in the value of the Dollar appeared Likely. In Germany fearful that the five nations action would put the Dollar into a prolonged tailspin customers lined up at Small and Large facilities o buy Marks and other currencies. In keeping with a department of de sense policy that went into effect june i customers at banking facilities monday were limited to the Exchange of $2,000 into Marks. The $2,000 limit becomes effective any Day the Dollar drops five or More pfennig against the Mark a Rule imposed by the defense department to prevent losses that the department m is absorb. Banking customers this week also will be limited to the conversion of just $100 Worth of Marks into dollars through thursday. The provision designed to curb speculation lasts for three consecutive Days following a Dollar decline of five or More pfennig. Stall writer j. Kino Cruor and Dob hover contributed to this report. Dollar from Page 1 West Germany s Central Bank sold $8 million its first intervention in currency trading since february. And traders said they believed that the Federal Reserve Bank of new York sold dollars to buy japanese yen. It always re fuses until months afterwards to say whether it intervened but the fear that it might do so rebounded among trading rooms in com Mercial Banks and brokerage houses from Hong Kong to new York keeping the Dol Lar at the Day s lows. The fear of intervention was More successful than intervention itself had been in the past traders said because the mood about the Dollar was already mixed. While it is too soon to Call the governments Mea sures a Clear Success traders said the Ini tial reaction suggests that if Central Banks do intervene and governments do adjust their economic policies the Dollar could fall significantly. The consensus is that the Dollar will weaken steadily against other currencies said John Flynn senior vice president of Deak pc Acra International a new York based firm that deals in currencies and pre Cious metals. In new York trading the Dollar closed monday at 2.69 West German Marks Down from Friday s 2.84 8.3 French francs Down from 8.7 226 japanese yen Down from 239 2.21 Swiss francs Down from 2.33 and 1.36 Canadian dollars Down slightly from 1.37. The British Pound surged to nearly $1.45, from $1.37. Gold soared More than $10 an ounce monday in response to the Dollar s plunge. The Republic Bank in new York quoted Gold at $329.50, up from Friday s close of $319. Most of the Dollar s drop came in Asia and Europe where much trading was done because of the time difference before the new York trading rooms came to life. A volume record was set at the International Money Market on the Chicago mercantile Exchange where 51,300 Mark futures con tracts were traded. Each contract rep resents the Sale of 125,000 West German Marks to be delivered in december. We had a very Active Day and trading was hectic said John j. Roche chief dealer at Barclays Bank in new York. People Are very nervous about holding traders said the Only comparable drops in the Dollar they recalled were on March 30, 1981, the Day president Reagan was shot when the Dollar fell to 2.06 Marks from 2.12 sept. 21, 1984, when vast intervention by european Central Banks sent the Dollar Down to 3.05 Marks from the pre Vious Day s close of 3.14 and March 19, 1985, when the closing of 71 Thrift institutions in Ohio caused the Dollar to fall to 3.23 Marks from 3.31. Monday s drop was substantially greater than the decline on any of those Days. Although the Dollar remains relatively High by historical experience its Exchange rate has dropped sharply from the Peak on feb. 26. In Early trading on that Day the Dollar Rose to 3.47 Marks and the Pound slipped almost to $1.03. The Dollar s direction depends in Large part on whether the five governments carry out their pledges to intervene in the foreign Exchange markets and adjust their economies traders and economists said. Trading in yen was very thin in new York As Well As in Tokyo said Masakazu Miyamori chief currency trader at the Santa Bank in new York. Noting that monday was a Holiday in Japan he said he expected Japan s Central Bank the Bank of Japan to sell dollars on tuesday to depress the Dollar further. The Bank of Japan called chief dealers at some japanese Banks to explain the intention of the five govern ments to push the Dollar s value Down Miyamori said. Exports from Page 1 drug companies Export new drugs not yet approved for Domestic use by the food and drug administration. An administration official said that we re placed at a major competitive disadvantage by not being Able to Export these products Many of which Are already being exported by other nations Reagan also said in his speech that he had instructed Treasury Secretary James a. Baker to inform finance ministers and Central Bankers who will gather next month in Seoul South Korea at the annual meet ing of the International monetary fund and world Bank that we will take into consideration the trading practices of other nations in our deliberations and decision the threat implied by this language was that the United states might oppose fund and Bank Aid to countries that did not aban Don restrictive trading practice. A senior administration official predicted that the Trade proposals would have a significant Impact on the Trade deficit in a year or 18 months. We re not going to bring the $150 billion deficit Down to $50 billion instantaneously but if it begins to decline significantly that s a major move he added. Crash from Page 1 added that that s not necessarily bad weather but it obscured the tops of the Presburg said there apparently was a fire aboard the aircraft but added that officials did not know whether it occurred before or after the crash. He refused to speculate on the cause of the crash. There was no night data or cockpit re Corder aboard the plane because the Faa Only requires them for aircraft that seat 30 or More people Presburg said. The plane scheduled to leave twi at 9 05 a.m., left at 9 25 a.m., and was due at Shenandoah Valley at 10 15 a.m., Presburg said. The last radio Contact which was nor Mal was about 10 20 a.m., he said. Presburg noting preliminary indications that there were no survivors said Passen Gers names would be withheld while rela Tives were notified. The helicopter that found the wreckage was one of two Marine helicopters passing through the area that joined the search. A state police helicopter and private Craft flown by members of the civil air patrol also joined the search Chumbley said. L h 63 is Loi 60 17 67 17 m 76 17 51 60 60 17 71 uber Bolm to Buffalo Burll Cha c chicag Cincinnati Cleveland Dallal i. Oklahoma ii Omaha Orlando Philadelphia Portland main Portland Ore. Reno St. Loutt is Peleaux Irsan Lake City san Diego san Syracuse Tucson Wethington Wichita Fargo Hallor Honolulu Houlton Kani Ailet v Llella 66 61 64 61 77 64 91 s4 59ven. A a 63 64 Ted by Del 13, 7th wee worldwide temperature Hon low97 61 64 5754 39 90 63 i 61 supplied by Ine a Fleer a Parlov Cloudy a mostly Cloudy Montreal Moko. Olio i Toronto. Vancouver Cli. I 3eruwlem, Flitton. I
