European Stars and Stripes (Newspaper) - August 26, 1990, Darmstadt, Hesse                                Page 4 the stars and stripes sunday August 26,1990 corporate profits Post a decrease Washington a corporations after tax profits reflecting the generally weak Overall Economy Edge Down 0.2 percent in the april june Quarter the government reported  Commerce department said the decline was the first since a 5.9 percent drop in after tax profits in the july sep tember third Quarter last  the fourth Quarter profits Rose 1.7 percent followed by a 0.5 percent first Quarter increase. Analysts said the continuing weakness in corporate profits was a reflection of the sluggish growth in the Economy Over All. The government reported Friday that the Gross National product for the second Quarter expanded at a lacklustre rate of just 1.2  Sinai chief economist of the Boston co., said the profit picture is Likely to Worsen in coming months especially if the country enters a  profits normally drop Between 15 percent and 20 percent in the typical recession Sinai said he was looking for Only about a 5 percent drop in profit next year because he expects that any downturn would be a mild  analysts who Are not yet fore casting a recession Are looking for  profits to remain soft in coming  Oil companies Are Likely to have bigger profits in the second half of the Yea because of higher Oil prices that will be offset by a weaker showing another sectors said Bruce Steinberg an economist at Merrill  profits totalled $ 166.7 billion at an annual rate in the second Quarter. The decline from the first Quarter reflected in part weak earnings in the transportation and Public utilities sectors. Among the details of the profits re port before lax profits which totaled$297.6 billion at an annual rate in the second Quarter were up a slight 0.2 per cent from the first Quarter. Before tax profits had risen 2.4 percent in the first Quarter. Corporate profits after adjusting for depreciation and inventories climbed 3.3 percent in the second Quarter to a annual level of $306.5 billion. They had been up 2 percent in the first Quarter. Corporate Cash flows a measurement intended to show the fund that corporations have for investment Rose 2.3 percent in the second Quarter Toan annual rate of $402.3 billion after falling 0.7 percent in the first  payments to stockholders in creased 2.1 percent to an annual rate of 133 billion in the second Quarter after in creasing 2 percent in the first Quarter. Out of this world role video stores have been besieged with in the film. Some speculate that the Tain during a scene with actors Ted requests for three men and a baby ghost of a child appears As the Back Danson and Celeste Holm. The photo because of a strange Cameo appearance ground figure partially covered by a cur is taken from a to Monitor. Fed reported sitting tight on rates until persian Gulf crisis winds Down new York up the Federal Reserve has apparently decided to make no changes in . Interest rates until the crisis in the Middle East abates it was reported saturday. The decision suggests the fed May be More concerned about controlling inflation than trying to offset possible recessionary effects of the crisis the new York times said. The minutes of the fed s closed door meeting in Washington last tuesday won t be released for six weeks but officials at a Jackson Hole wyo., conference on Friday said a change i policy would Only inject new uncertainty into the nervous Bond and Stock markets. It is fairly Well accepted that monetary policy reacting to Supply shocks is not appropriate a Federal Reserve official said. The presidents of the Federal Reserve s 12 regional Bank gather in the capital every six weeks to review the state of the Economy. At the meeting they decide whether to lower interest rates thus stimulating buying and investing or push up rates reducing the Odds of a higher inflation rate. The fed has been edging Down interest rates for almost a year out of concern that the Economy was weakening the times noted. The last drop came july 13. In interviews officials said the Iraq crisis has Hurt the value of the Dollar a potentially inflationary development and caused a Sharp Rise in interest rates for Long term government Bonds. The times said the Rise in Bond rates reflected in part concern on Wall Street that the Middle East crisis might cause the Federal Reserve to reduce interest rates in an Effort to avoid a recession. People perceive that the fed might be ready to Cave in on interest rates so the fed has to maintain them longer than it might otherwise have wanted to do said Jerry Jordan chief economist at first interstate ban corp in san Francisco. None of the officials interviewed would disclose specific decisions made at tuesday s meeting but speculated it will be at least a month before it is known whether Oil shipments fro the Middle East would be further disrupted or whether Oil prices might Rise. In such uncertainty the officials said adjusting interest rat policy would be inappropriate. Monkeys turn neighbourhood into Urban Jungle new York a the City s wildest tourists Are one found a new Home in Quinn s  from South America. They be enjoyed the cuisine and spent their nights swinging around town. The also have razor Sharp Teeth and can carry parasites and viruses. They Are 25 recently liberated Squirrel monkeys an they be made a quiet Queens neighbourhood go bananas since they were stolen trom a local business and turned Loose three weeks ago. It s like vacationing in a faraway land Constanc Equinn said. You look out the window and there s a Monkey hanging on the Wash line or swinging in  the Monkey business began when the animals were swiped from South America unlimited which imports the primates and Sells them to research laboratories. The thieves apparent plans to peddle the monkeys to pet stores fell through so they released them police  or since it s been monkeys in the Middle of everything. They pop up in Back Yards Dangle from Tele phone wires and Leau local kids on wild Chi rep chases. The cute Little critters Are is dangerous As they Are i walked out there and the Monkey was just sitting on adorable travers warned. They will bite if confronted re  it of. I. An j they can carry