European Stars and Stripes (Newspaper) - June 03, 1991, Darmstadt, Hesse                                Monday Juno 3, 1991. A a 1. The stars and stripes a Pago 17  today s tip the huge fuel demands of operation desert storm fattened profits for the nations 18 major Oil companies in the first three months of 1991, with income rising 18 percent above 1990 Levels Federal analysts  increased profits were largely attributed to the Zompa Niesz refining and marketing operations which benefited from the dramatic decline in crude Oil prices in Early 1991 As Well As the surge in War related demand for Jet fuel and other refined products said the Energy information administration. The same two factors helped Independent refiners achieve a 179 percent increase in profits during the period. Conversion rates London up fridays rates for the . Dollar to other currencies figures arc expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at 5360,75 an ounce Stiver at 54.14. May 30 .1.7165 .,1.7195 May 31. 17115 1 7330 5.8465. 1.9424 35.5025 �1.281 05 1b8.75 4.066 80 �3.7501 106.74. 150.26. 1.1436. 12.13 6.7175. 6 62. British Pound. German Mark. French franc a dutch Guilder a belgian Iran 35.2000 italian Lilac .1.270 00 Swiss franc 1464 greek drachma a turkish lira a saudi arabian Riyal. A Spanish peseta a portuguese escudo. A Canadian Dollar a. Austrian Schilling. A a norwegian Krone a a danish Krone ��.�. These Are unofficial rates As reported by wire service and banking , and they Are listed to give some idea of daily currency ii actuation. 7 _ the Only official Rale concerns the Sale of German Marks to us personnel for personal use and this Wii he 1.68 through monday based on fridays noontime Price fixing. Lexus inf in Iti top Survey Agoura Hills Calif. Apr new lexus and in Imti cars give their owners the least problems according to the Annua owners satisfaction Survey by . Power and associates a. A a a. It was the second year in a Row that lexus tanked first in the initial Quality Survey. Other models that fared Well included in descending order Toyota Mercedes Benz Acura Honda Subaru and Ford rounding out the top 13 car lines were Lincoln Buick Oldsmobile Mercury and Cadillac. A. A a. The Survey a widely used in advertising a provides information collected from More than 33,00 1 owners of 1991 Model year cars. It ranks makes and models according to those that Consumers consider the most a and least a trouble free after 90 Days of ownership. Automakers pay Power for detailed reports on its research.,. The standings were formulated from a base of problems for 100 vehicles. Lexus leading score of 55 Means that 55 problem were reported by. Lexus owners for every 100 cars.,  j the Survey indicated Thal the Industry s average number of problems per 100 ears has fallen by 19 percent since 1988. Upstart Stock Market reflects Hope in time of uncertainty by Floyd Norris the new York times new York a the recession seems to be ending. But the overwhelming Eon census is that the recovery will not amount to much. There is talk of a a Don ble dip downturn and few expect Strong growth. A a. The Stock Market however Jeems to. Have a different opinion. That contrary notion of coming strength in the com omy is conveyed not just by the fact that the. Dow Jones Industrial average Las week Rose 113.59 Points to 3,027.50, set. Ling a record and closing above 3,000 Lor the first time since april 17. _ a it May also be significant that it is no longer the recession resistant consumer stocks like Procter amp Gamble and Philip Morris that Are  charge of the 30 stocks in the Dow four Are at least 10 percent higher than they were when the average first closed Over 3,000 All Are big Grimy cyclical stocks Dupont Goodyear general motors and Bethlehem steel. Quot International paper and Union Carbide have risen almost As much if those . Sells off savings Bank in costly Deal Buffalo n y. A go dome one of the nations largest savings Banks has been seized by Federal regulators and divided Between two competitors in the nation s most expensive savings Bank collapse. A a a a a a. A a a a a a a a a. Key corp acquired. A 31 a go dome. Branches in Western and Centra. New a York in Friday s transactions. First Empire state corp. Acquired 11 other branches around Buffalo where go dome  and three in new York City a a a a a both Banks said the branches would continue operate is without interruption key corp chairman Victor Riley said his Bank contributed $273 million while Fust Empire state contributed $40 million. The Cost  government was estimated at $930 million making go dome the nov. Expensive savings Bank bailout  sixth largest Bank failure Ever said Caryl austrian a spokeswoman for  Deposit insurance corp. Go dome is the largest of about 40 not heal savings banker especially Hurt by the recession and regional real estate slump. A v. V a -7. -. Before the go dome transaction. Albany based key corp was the. Nations 36th largest Bank with 623 branches in eight Northern states from Alaska to Maine and $19.3 billion in assets .7. Firs t e m p i re s t a t a a a a a be d j n b u i f a i of had $7 4 billion in assets As of March 31. Its three subsidiaries had 100 branches 1 All in new York state. Key corp and first Empire state teamed up last year to acquire 28 branches of Empire of America another failed Bulla to based savings and loan for $24  v. A Quot a Quot 7 several of those branches were closed because they were near key corp and a amp to branches and some go dome branches Are expected to meet a similar Fate. Gold Omen a subsidiary in Florida go dome savings Bank was not affected by Friday s action. The St. Peter Burg based subsidiary is a savings and loan. Moves Are to , then this Leon omy needs Mote than a weak recovery. The Bond markets refusal to rally Mav also be sending a signal Osur prism Leo nomie strength. I he Federal Reserve. Has pushed Short term interest rates Down sharply and american investors have taken the hint. Sales of Bond Mutual funds Are booming. A a. And vet. As Fred Lemer an economist at. Continental Bank pointed out. Lon term interest rates have been stalled for six months making minor moves hut essentially going sideways. A i m Cove earned by some similarities with late i986,�?~. Lie said. A we see Money pouring into Bond funds yet. The Bond Market is unable to move higher those similarities suggest the Market Mav move lower from these levels.�?�. In late 1986 and Early. 1987, he re called the Bond Market stalled while stocks leaped i Hen Bond prices trashed m the spline. And Slock Knees followed in the fall Quot this year there Are certainly plenty of reasons to doubt that the Economy can rebound strongly i he debt overhang that helped to Bung on this recession has not a a a disappeared and the government s it lords to Light the a recession have been limited by the severe fiscal problems brought on by the prot Ligac of the i9sik, it is hard to imagine a new Boom in commercial construction moreover the evidence Ilia the Reeves Sion is ending,.while persuasive to a Loroi Stock traders is still limited. A a a 1 lie leading indicators have sen Lor three consecutive months. And la Toiv orders turned up in april. A a a a. Consumers Tell pollsters the present is bad hut the future will be belter and a they seem to translate those beliefs into. , not a Panicky increase in savings. Stock Market analyst noted that secondary stocks which were leaders m the Winter rally Are lagging As summer begins i Hen participation would make tins  a More implies save one but for All that it is a Lair Thal the Economy usually finds a Way to so poise the see is a Strong ice Oveis ill is uni would Cei Tamly Quality As a so poise perhaps just perhaps that is the ii Lent message of the markets purveyors of print a a a a a a a .�.���.�.�. A a a a Quot. A a booksellers train around the United states have gathered in new York to get the word a it it about their latest publications. To do so the members of the american booksellers association have packed the Jacob Jovits Center with their displays. 1 his year is developing into a Good year for the Sellers Aba president Berelc Rath said Bookstore sales for the first three months of 1991 exceeded $1.7 billion a 7.4 percent Rise Over the first Quarter of last year. \