European Stars and Stripes (Newspaper) - February 21, 1991, Darmstadt, Hesse                                Thursday february 21 1991 the stars and stripes b Page 17 a a a a. A. Money  defense Secretary Dick Cheney has written to the nation s 50 governors to ask for refunds of tuition and tech in Cas is where National guardsmen Anit reservists have. Had to drop Otlet of College because they were called to Active duty in the Gulf crisis. Currently there is no legislation protecting students in such cases Cheney also asked that the students be guaranteed the right to return to school when the War with Iraq is  rates London up wednesdays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted Al �365.25 an ounce Silver at $3.71. A. Feb t9. Feb. 20 British Pound ,.9525 1.9505 German mark1.4875 a. 1,4962 French franc 5.0755. 5.0745. Dutch Guilder .,1.679 a. 1.6765 belgian franc .30.6775 a 30.70 italian lira. 1,119.40. 1,118.85 Swiss franc ,vi.,., ,. 1.2781.2785 greek drachma. 159.52 a a 159.43. Turkish lira. .3,177.60 3.191 20 saudi arabian Riyal .3,7503 a 3.7503 a Spanish peseta ,.,. 92.92 92.72 portuguese escudo. 130.76. 130.52 Canadian Dollar. .1.154 a 1,1535 Austri to Schilling. 10,48-5 .10.47 norwegian Krone. .,.,.,.5.82. 5.81. Danish Krone,.5.728 5.722 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.45 thursday based on wednesdays noontime  York Exchange new York up the 1.5 most Active stocks in new York Stock Exchange composite trading on tuesday. Slock Sale late net chg. Natl Semi Condol 4,674,000 .6 % a. Unch Philip Morris. A 4.469,500 65 a a up 3 Hewlett Packard a 2,746,300 45 % a. Up 5 % Boeing co. 2.401,500 49% Quot up % i9m corp a 2.274,900 139 %. Up 2 % Ford motor co. 2,124,900 30% 0 1% Geni electric a 2.068,200 69% unch general motors. 2.012,600 37 % up get corp1,666,800 31% up % at amp to company1.570,400. 34 a off % Mcdonalds clip 1,530,500 a a 32 % Quot up Pepsico inc 1,526,500 32 % up % United tech Nagy 1,407.700 47 %. Unch waste mgl inc. 1,306.200 40 %. Off Texas utilities a a 1,304,600 38 off % american Exchange new workup a the .10. Most Active stacks in american Slock Exchange composite hading tuesday. Stock Sale. Late net chg. Salomon it 93apr 435,200 4%. Up % amen Cus m0 so 364,800 36% up 2% pm group Sta. 288,200 4 % a up % Pegasus Gold a 282,900 11 % off %  it a 262,200 4 a off a a Conti air Hodgs 252.600 2 % off % amen Cus ism Sci 250,400 4 %. Up  carnival cruise 249.700 19 % unch. Wang lass inc 8. 229,900 3l5 unch Western digital 226.b00 4 by unch Dow Jones a a a a a a  Silipi Dow Jones Clasma Range of averages High Low Cid change Quot  Dis 2555 20. 2895 30 2932 18 Oil 2 47 i Jnson 1132.05 1106 84 1118 83 Oil 0 35 a 1 Jii Lii i 216 68 214 10 216 11 up 0.63 Al Siecks 104877 1026 28 1040 26 Oil 0 09 now May be right time to try Mutual favouring Sedli firms by Randy Mcclaln. Financial writer. Mutual fund investors who Don t mind a Little risk Are being encouraged to Quot think Small these Days after several years of hit and miss results Mutual funds that invest primarily in Small companies a sales of $350 million a year or less a May be poised to reach new Heights several investment advisers in Europe said. Already in 1991, a number of Small company or a emerging growth Mutual funds have turned in double digit gains. Some analysts think there s More to come. A if someone had $20,000 to invest. I d probably feel comfortable suggesting they put up to $2,000 into a Well managed Small company fund a said Paul Filkil a certified financial planner in Baum Hoid or Germany. Quot these funds  battered Down for a Long time and its about time for them to have their Day in the  George Nigro an investment adviser in Ramstein Germany agreed Nigron a theory is that Small company funds have trailed the Stock Market As a whole for the last several years. On the other hand stocks of larger companies have been making Broad based gains. Now he thinks Small company stocks and Mutual funds look cheap by comparison a with the bigger stocks. Quot Small company stocks and funds have been Down and they present a Good buying Opportunity a he said. To understand Why investors need to think Back a few years. Since the mid-1950s, Small firms on the whole have out performed larger issues by a Factor of almost 3-to-l, investment analysts Point out. A. Over the past seven years however the Small companies have generally lagged behind big company stocks traded on the new York Stock Exchange. From 1983 to late 1990, the Russell 2000 a Stock Index that tracks the performance of 2,000 Small companies gained 22 percent. By comparison the Standard it poor a 500, a Broad measurement of How the biggest companies in America Are doing went up 137 per cent its difficult to pinpoint a single reason Why the stocks of Large companies have tended to out perform Small firms Over the last several years. But some analysis believe foreign investors Are primarily to blame. A a Quot the investor in Asia or Europe feels More comfortable buying stocks of . Companies that they be heard about and that they can find research opinions on a Filkil said. Quot its the Comfort Factor that leads them to widely recognized name . And foreign investors dollars Are playing a larger role than Ever in the . Economy. A one word of caution though. Many Mutual funds that invest in Small companies have performed erratically Over the last several years rising by double digits one year and barely showing any gains or falling the next a. Despite those numbers Hove or a growing number of analysis believe Small stocks and Mutual funds that invest in them Are about to return to their winning ways simply because they re Long overdue for success1. Quot Small companies Are the adrenaline that juices the Economy to spurt Forward in new directions a Nigro said. Many of Small company Mutual funds sore analysts Are urging  investors to put a potion of their Money into. Funds that invest in Small companies those with annual sales under $350 million. Their theory is that Small company funds have lagged behind the Stock Market As a whole and Are now poised for further gains. Shown below Are performance figures for three funds in that category. A a a a a a a Putman oct fund description invests in companies with capitalization Between $100 million and $250 million. Quot. A a a a a a a a. A a a a a a a a a a a. A a a. A a fund manager Dick Jodka since 1983. 30. Quot a a a a a a 20 10 l 1 0 a. A a a. A a Ltd 91 Oppenheimer discovery fund description Small company growth fund. Fund manager Donna Calder since september 1986. Ytd�?T91 amen capital appreciation fund description invests in comps files with capitalization Between $50 million and $300 million. Firms must have been in existence at least three years 5 fund manager Stephen Poling since 1988, 507 87 �?T80 not in existence. Ltd 91 source individual Mutual fund companies the companies arc unknown today Quot hut some will become the Brand names of tomorrow Quot he said. / investor s in the military Community May not Haye the knowledge to predict exactly which companies will emerge from the pack. But service members can still profit by investing in Mutual funds that own Stock in dozens of Small companies and Hope that at least a few of  strike it Rich one Day. The Stock Market As a whole has also risen sharply since the Start of the persian Gulf War. That climb has helped Many Mutual funds get off to a Good Start in i99i. Small company funds have participated in that Success. Among Small funds with recent Strong gains to their credit Are amen capital appreciation fund up 15.25 percent this year Putnam of cd bund up 14.4 percent this year to Dale and the Oppenheimer discovery fund up la. 1 percent on the year. Both Nigro and Filkil Are touting the Oppenheimer  to clients Filkil also likes the other two funds. The Liau Mulder financial planner does no to suggest that Small company funds Are for everyone though. Investors who a amps Sharon Kilday can to stomach a litle risk probably should put their Money elsewhere he said. A a but for someone who is younger and who can ride out the  and Downs of the Stock Market this has a place in their investment portfolio a Filkil said. Of urse not All financial planners in Europe Are 1 x percent sold on Small company funds. A , Jackson an investment adviser in Frankfurt Germany who caters to military clients said he thinks a lengthy . Recession could prevent Small companies from doing As Well As others think they will this year. I Quot Small companies find it difficult to raise Money during Bear markets or recessions because Money is Light and investors Are hesitant to take inordinate risks a Jackson said. Quot however should the Economy turn around by the end of the year Small capitalization Mutual funds could Sec accelerated  Jackson a suggestion is that investors who Are willing to speculate should take a Chance on the Small funds but he a not promising Quick returns. "1  put a whole lot of Money into it Quot he said a no More than 2ij percent of someone s  St