European Stars and Stripes (Newspaper) - February 11, 1991, Darmstadt, Hesse                                Monday february 11, 1991 the stars and stripes s a a a Page 21 vast Sivam Money matters of Day s tip with . Interest rates on the Way Down look for the rates offered by Banks of certificates of Deposit to drop As Well. A cd rates will fall in february and there a a Good Chance  fall in March a said Hugo Ottolenghi of Bank rate Monitor . Newsletter. A there is markedly less Competition on cd rates now than in the past  As always the longer a Bank customer is willing to invest his or her Money the better the interest rate. Conversion rates London up fridays closing fates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars a Gold was quoted at $368.50 an ounce Silver at $3 85 a a feb. 7 feb. 8 British Pound. L.9945 a 1.9855 German Mark. .1 4552 1 4570 French franc ________4 954 4 9710 dutch guilder.1.6388 1 6435 a belgian franc. 29.90 30 025 italian lira. .1,094.10 1,097 75 Swiss fran c.1.2355 1 2425 greek drachma. .155.55 156 15 turkish lira .3,024.40 3,046 60 saudi arabian Riyal. .3 7503 3 7503 Spanish peseta 91 39 91 68 portuguese escudo .128 43 128 97 Canadian Dollar. .1 1570 1 1582 austrian Schilling .10 229 10 265 norwegian Krone. 5 686 5 716 danish Krone. .5 5960 5 6175 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some ideas daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use Aind this will be 1.42 monday based on fridays noontime Price fixing. I business news tighter Security at airports around the world and stricter postal regulations Are slowing Down the delivery of merchandise to shop by mail patrons in Europe. A there Isnit a whole lot we can do about it a said Jim Fulton manager of International sales with the lands end mail order firm. A if one customer is disappointed its a major problem a he said. A but anyone close to the. Military is aware of what a going on with the Carand we Hope they re understanding about the possibility of delivery delays.�?�. Fulton said customers in the United states who want to order merchandise that will be shipped to service members in Europe May not be aware of the problem. A since Jan. 17, whenever we get an order to ship something Apo or Fpo we Tell the customer there a Likely to be a delay in delivery and we ask them if they still want the order sent a he  far the policy Hasni to put a Dent in business. A in the larger scheme of things the successful completion of the War Effort is a lot More important a Fulton said. Banks and printers Are battling for control of the Check printing Market estimated at More than $1 billion a year. Independent printers Are offering to Supply checks at rates that Are sometimes two thirds lower than what Banks charge. A amps Miko Abrams unlike in the past the streets of Mainz Germany wont be filled with Fasching merry makers this year. Cancellation of carnival events adds up to big financial losses by Mary Neth staff  fear of terrorism spawned by the persian Gulf War All but killed Germany a Gaudy Winter Celebration of silliness a the popular Fasching season which had been scheduled to culminate with Street parades and merrymaking monday. Cologne Mainz and Dusseldorf the centers of carnival festivities in Germany followed the Lead of other european cities by cancelling pre lenten carnivals. So did most smaller towns around the country. _ a. For the carnival committees and the cities its adding up to huge losses and making an already sluggish Winter tourism season seem that much slower. The first cancellation of Fasching since world War ii came after most of the costs for such things As making floats and costumes had already been incurred. Preparation for these a a spontaneous events which include parades As Well As of private and Public parties go on All year Ong. Other expenses include the Cost of advertising carnival balls hiring musicians booking hotel rooms and reception Halls. A carnival committee members usually raise Money to help pay for it All by seeking donations and by charging for tickets to Public balls and other events. Mainz usually airs its Fasching Active when the German cities announced ties on television in a program called a Leaneel Latorr of a Fuschini Evetts tits los Ini a Vii a a. A a a a a. A a. A Mainz mow it sings and  the City also usually picks up the Tab for the boats with the agreement that if the carnival association makes a profit it reimburses City Hall. Bernhard Fischer a City representative expects that this years annual subsidy of More than $40,000 wont be paid Back. In Cologne Home of the country s most famous Rose monday Fasching Parade the City had cup cited to spend $352,000, including $70,000 for Street cleanup. A the Bills Arentt in yet a said City representative Michael Josipowich but we expect that most of that Money a other than that for the Street cleaning a already has been paid out. That Means the City will have to dewy up its  / in Dusseldorf the City has a similar arrangement. Its subsidy of $211,267 goes for advertising posters and music groups. A we imagine Well lose the whole amount a said City representative Michael Kamphausen. 51a City official in Cologne a who did not wish to be named said a a study was done Here that credited Fasching with bringing the City $42 million a year in tourism. Maybe Well lose a third of that amount but tourism is generally Down anyway.�?�. A a was assumed that that meant cancellation of Days off for government employees. In Cologne which boasts of about 40 carnival societies and 16 carnival associations citizens take Fasching seriously. One government employee was so incensed with the idea of losing his holidays he went to court. A the court ruled that having Rose monday and the following tuesday off was a a traditional right a Josipowich said. A the City then decided to give All employees monday  in Rof Weil famed for the frightening wooden masks of its Parade marchers the carnival committee itself cancelled its big event. A that left the City with no obligation to help with incurred costs a said a member of the local tourist Bureau. But she added the carnival co Manittee and local a bars a will lose out  with 1991 a bust some carnival officials Are already planning ahead to 1992�?Ts madness. A Many decorations can be used next yet iary a said George Deojay a longtime member of the Mannheim Germany carnival association. A we ordered 7 h medals to be awarded this year. Well attach a Metal strip spelling out �?~1991-1992�?T on them and  be great for next  Banks go beyond what s required to assist reservists on Active duty new York a Banks Are required to give military reservists on Active duty a break on interest rates but several Are going beyond the Law by dropping interest charges and postponing payment deadlines. Under the soldiers and sailors civil Relief act of 1940, Banks Are required to reduce to 6 percent the interest on existing instalment  including Home mortgages credit card debt and student Loans a while reservists Are on Active duty. Several Banks have gone beyond the letter of the Law. San Francisco based Bank of America the nations second largest banking company has Frozen loan payments for All qualifying reservists. Interest and principal payments need not be paid a Itil the reservist returns from duty. With credit cards which can be used by. Reservists or family members on their accounts payments Are made against principal Only said spokeswoman Bernice Riordan. Wells Fargo amp co., another major san. Francisco Bank has suspended payments for More than 800 Active reservists and another 100 applications Are pending according to spokesman Paul. Elias