European Stars and Stripes (Newspaper) - May 31, 1991, Darmstadt, Hesse                                Friday May 31, 1991 the stars and stripes b Page 17money matters today s tip not new York not los Angeles but Burlington vt., and Charlotte n.c., Are among the United states 10 Best cities to do business amid the economic recession the monthly business Magazine inc. Said wednesday. A in the face of economic uncertainties generated by the current recession the editors of inc. Magazine cite 10 . Cities a two in every Region in the country a that Are outpacing their neighbors during the present slowdown and Are Best poised to take advantage of the recovery when it comes a said the Magazine in its june Issue. The top 10, including two cities in each of  five regions Are Burlington vt., and Lancaster pa., in the Northeast Orlando fla., and Charlotte n.c., in the Southeast Indianapolis and Minneapolis St. Paul in the Midwest Dallas fort Worth and Salt Lake City in the Southwest and Seattle and Riverside Calif., on the West coast. Conversion rates London up thursdays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $361 an ounce Silver at $4.11. May 29 a May 30 British Pound. 1 7350 1 7165 German Mark. .1.6955 1.7195 French franc .5.7600 a dutch Guilder. 1.9008 a belgian franc. .-.34.90 35.20 italian lira 1 261 70 1 270 Swiss franc. 1.447 1.4640 greek drachma .185.74 turkish lira 4,017 20 saudi arabian Riyal .3.7501 \ a Spanish peseta. .105.03 a a portuguese escudo.,. .147.82 a Canadian Dollar .1.1461 a austrian Schilling. .11.926 a a norwegian krone.6.61 a a a a a a danish Krone �.6.4985 a these Are unofficial rates As reported by wire service and banking sources. Banking facilities were closed in Germany thursday for the Corpus Christi Holiday. The official rate for Sale to . Personnel for personal use will remain 1.65 through Friday. New York Exchange new York up York Stock Exchange Stock general motors Ford motor co Pepsico inc computer Assoc Amer express. Philip Morris Citicorp a a at amp to company ban America ism corp a Chrysler corp Rwjr Nabisco hid inti paper co Dupont amp co limited inc the 15 most Active stocks in new a composite trading on wednesday. Sales 4.461.500 3.020.100 2.339.500 2.214.000 2,110,900. 2.037.300 1.835.100 1.760.200 1,756,400 1.652.200 11646.500 1,586,1001,465.700 1.398,800 1.372.300 last. 42 is 35% 32 a. 9 is 25% 68 % 16 36% 39% 104 a 14 %. 11 % 67 i 45% 28 net chg. Up 2 up 1 i off is. Up is a up % off a off % up is. Up 1 off 1 up a off is up 1 is up % up is american Exchange new York up a the 10 most Active stocks in Stock Western digital Appal am Israel Echo Bay mines pall corp Jan Bell mtg fruit of loom Americus disc tubes de Acero metro Mobile b Bergen Brunswig sales last net chg. 588,400. 4%. Unch 440,800 2. A unch 376,000 8 a. Off is 331.000 36% off % 305,300 12% up 1 295.800 14% a up % 276.700 10% a up i 259,300 9% a up % 245,700 .16% up % 236.200 26 % up a Dow Jones. New York up a Dow Jones closing Range of averages wednesday 30 industrials 20 transport 15 utilities 65 stocks High 2987.92 1187 06 21265 1067.52 Low 2940 74 1165 37 21014 1050 52 close 2969 59 �118054 211 39 1061 20 change up 10 / 3 up 10 05 off 0.51 up 4 41 more1 families having to help children obtain 1st mortgages by the los Angeles times with Home prices High i a big Down payments harder to com by a growing number a 20percentv�? of would be buyers Are  help front their relatives according to the National association of realtors. If you Are a Parent or other relative who would like to see your offspring buy a Riouse there Are three Basic ways you could help. You can simply give them some or All. Of their Down payment lend it to them or co sign their loan. Lenders Are More willing to make a loan when there Are no strings attached to the Down payment said Gary Judis president of los Angeles based Aames Home loan a prices have gotten so High that an awful lot of people out there need some financial assistance when it comes to buying a House a said Olga Moreno a mortgage broker and owner of Bona fide financial in Pasadena Calif. A if your relatives Are going to help you out its certainly nothing to be ashamed  if you decide to give your kids part or All of the Down payment the Lender will probably ask you to sign a a gift letter specifically saying that the Money really does no to have to be paid Back. As a general Rule if your Gilt is equal to at least 20 percent of the Purchase Price the Lender wont require that your child put up any of the Down payment. That is because big Down payments Lessen the Chance that the Lender will lose Money if it must eventually foreclose said Pamela d. Schumacher of the los Angeles based Camden financial services. ,. A. Quot a a. A a a a a lending the Money to your children can be helpful but Noi my Silv As helpful As simply giving them the Down payment. That is because the Lender will Factor in the monthly. Payment that your child will have to make to you a a calculation that could result in the Lender reducing the size of the loan it is willing to. Make. Some lenders will not make a loan if All of the Down payment is borrowed. A off1--the record some lenders admit that Many parents probably sign a gift letter when an reality it is really a loan. Another Way that parents and their of your relatives Are going to help you out it s certainly nothing to be ashamed  a Olga Moreno mortgage broker and owner of Bona fide financial in Pasadena Calif. Children get around the restrictions on Loans or gifts takes a Little More planning. Lets say that your son is applying for a Home loan. The Lender will probably ask your songs Bank for the average daily balance in his savings account for the past three or six months. If the average has been High your child will have a better Chance of qualifying for the loan. But if the average is Low and a huge Deposit was recently made into the account it is a tip off that the Money probably came from someone else. To get around that potential pitfall some children borrow from their parents several months before they Start shopping for a  put the Cash in the Bank to Start drawing interest. A remember though that we re going to ask you How you be saved up $40,000 or $50,000 when you Only make $3,000 a month and a you be been paying $1,000 a month in rent a said Bruce Norman of first mortgage corp. In Diamond bar. Calif. Keep in mind that its a Federal crime to misrepresent yourself on a loan application. A the third Way to help your kids buy a House a co signing for their loan can he a bit risky. A flitting your name on the loan application can make it easier for your kid to get the Money because Well take into consideration How much both Vou and a. A. A. A a. A a your child earn when we re deciding whether to make the loan a Judis at Aames Home loan said. A but the important thing for you to remember when you re thinking of co signing is that you re just As responsible for making those mortgage payments As your child is a lie said. In addition keep these tips in mind a lenders like to see financial  from close relatives instead of Long lost uncles or friends. A. A a a a fwd a a a lenders also tend to look favourably on gilts or Loans from employers churches synagogues and the like. A Don t forget the Federal National mortgage associations new �?o3-3�?� loan program which allows a Borrower to get up to $ id 1,250 if lie makes a Down  men of at least 3 percent  relative employer or a non profit group puts up another 2 percent. Transit Agency tackles phony claims Philadelphia a transit officials Are trying out a Security camera on a Busy bus route As the latest weapon in a crackdown on phony injury claims. The camera should prevent one of the most blatant varieties of fraud a claims from people who weren to even on Board Southeastern Pennsylvania transportation authority general counsel James f. Kilcur said. A a we be seen accidents where we received injury claims from two to three times the number of people on the vehicle. Its that bad a he said tuesday. Septa is trying out the Driver operated still camera on a bus route that produced 648 injury claims costing about $3 million last year Septa estimates a it i 1 Accident claimants $50 million off Isear or 1 percent of its budget. That translates into about 18 cents out of every Dollar collected in  been worse. Three years ago Septa was spending 11 percent of its budget for Accident claims a situation that Kilcur said was a out of  since a crackdown began in 198-7, Kilcur said the number of new claims each year dropped from 15,500 to 9,000 last year. Weather and other factors besides enforcement could affect claims Kilcur said. A a a Quot / a. A but we can Tell Lye re having an Tut aids group ends Philip pms Boycott new York up a Philip Morris and the aids activist group act up thursday announced an end to Boycotts against Miller Beer and Marlboro cigarettes in turn for More funding to fight aids and anti Gay Bias. The Washington Branch of the aids coalition to unleash Power said in originated the Boycott a year ago in protest of Philip Morriss support of sen. Jesse Helms d-n.c., regarded in the homosexual Community As anti Gay. A it was because of Philip Morriss political contributions to his re election Campaign last year a said Michael Petre Lis of act up. A Helms is the number one political enemy of Gays and people with aids a he said. A the has made a career out of spreading bigotry against the Gay  at a joint news conference Guy Smith in Philip Morris vice president for corporate affairs said the company will double its annual contribution rate. To Date the company has spent $1.3 million to assist aids research care and education efforts. A to fight aids is also to fight both pact just from what we hear Arnm the Legal Community about lawyers who have dropped eases against us when they decide they re too shaky a lie said. Septa has hired private investigators to follow people who claim to have suffered major injuries aboard its buses trolleys and trains. In one ease a Man said a Septa Accident left him unable to go anywhere without a Cane. He was videotaped push Ingli shopping cart out of. A store and loading Vyater melons into his car. Kilcur said Septa decided on a still camera because it was about one third the Cost. A still shots can be just As i acc ii Tive a he said. Discrimination against people living with aids and homophobia a a the firm said in a joint statement with act up. A educational efforts to combat these forms of discrimination May also be funded by Philip Morris which continues its stand against All forms of  however not All act up officials were Happy with the agreement. William Dobbs of the new York chapter called it a despicable a and said to take Money from a cigarette company was like a stepping Over thousands of dead to help aids victims