European Stars and Stripes (Newspaper) - June 08, 1991, Darmstadt, Hesse                                Safr urday june 8, 1991, the stars and stripes a Page 17 a a a Money matters today a tip if the Bill for your at amp Tusa direct calling card arrives bearing charges for a mysterious Call to Pittsburgh done to immediately Start cursing the age of computers. It could really be your Call. A the number a 412 394-6283 a is an at amp to Billing number. When you Call an 800 number from overseas Long distance charges will appear on your Bill As if you had called Pittsburgh. Y calling 800 numbers from overseas Isnit toll free. Expect to pay a $2.50 surcharge for using Usa direct plus minute by minute rates that vary according to the country you re calling from. Conversion rates London up a fridays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold  at $36675 an ounce Silver at $4.56. June 6 a by june 7 British Pound. 1 6b75 1.6725 German Mark. 17515 a 1.7660 French franc a. 5.9275. -5.9545 dutch Guilder. ,1 9725 1.9780 belgian franc 36.005 36.155 italian lira. .1,296.90 .,1,304.00 Swiss franc 1 4995 1 5170 greek drachma .191.72 192.00 turkish lira ,.,. 4,138 40 4.154.60 saudi arabian Riyal 1.3.7502 a 3.7502 Spanish peseta. 108.25108.5b portuguese escudo. 152 28. -152.69 Canadian Dollar. 1 1465 a -1.1462 a austrian Schilling Al 12.319 12.357 norwegian Krone. 6 822 6.844 danish Krone. .6.7255 �6.7410 these Are unofficial rates As reported by wire service and banking sources and they arc 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 1.71 through1 monday based on fridays noontime Pricer  York Exchange y new York up a York Stock Exchange Stock a. Rwjr Nabisco hid by occident a petrol y Pepsico inca Quot ,. Sunshine mining a Union Carbide limited inc. Y v Paramount comm. Battle Man Gold time Warner inc a Citicorp. Quot ism corp a y Abbott labs ins y pub Sec ent prs y a Tele Lonos of my Dupont amp co a the 15 most Active stocks in new composite trading on thursday. Sales. Last net chg. 4,676,500 10v4 a y  2,411,900 22 up 1% 2,193,600 31. Up a 2,098.500 m a a y a up m 2,020,800 21. Up w 1.636.000 29 0lf% 1.621.300 45. Up 4 i. 1,506,100 9%. Up 1,496,600 99 a  1,406,800 174 a. A up a y ,354,200 v .103 a Oil i 1,341.900 50. A Quot Oil a 1,328,800 25a. Y Oil i 1.272,000. 27a a a up is 1,187,100 .47 a a up to american Exchange new York up american Stock exch a. The 10 most Active stocks in Inge composite trading thursday. Stock sates last net chg. Energy service a Echo Bay mines 789.400 3 i  636.200. U.b%. Wang labs inc b pall corp a a a a. 486,700 3v4i a a unch a Quot 415.800 36 3 Quot a off 3. Bat industries 236,600 12 i. Up 3-16. First Aust pm. 220,900. 911-16 Oft 5-16  or. 197.500 55a up a Hal Haven corp. 185.600 a m a a. Unch Viacom inc 0 i 184.100. 29 i y Inch tubes de Acero by 161,800 10%up a Dow Jones i. New York up Dow Jones closing Range of averages. Thursday a a a. Y a a a a a High Low a close change 30 industrials 3027.06 -2975.63 2994.86. Oft 10.51 20transports 1252.47 1231.31 123b01 o�6.52. 15 utilities i 211.39 209.00 210.39 Oil 0,31 65 stocks.1091.44 1073.80 1060.44 of 4.05goodyear expansion Akron Ohio up the Goodyear tire amp rubber co. Announced Friday that its Board of directors has authorized a $39 million expansion that will nearly double the company s Plant capacity in Bangkok Thailand. Of closing ailing a amp is Banks by the Washington Post Washington with no end in sight to the financial epidemic that has forced the government to spend billions closing Down More than 2.000 savings arid Loans and Banks Federal regulators Are developing a Radical change in strategy in Hopes of  Cost of Bank failures. Instead of closing Banks  when they get in trouble it May be cheaper for the government to try to nurse them Back to health by giving them infusions of Cash or easing Federal standards regulators now believe. A we need a new strategy a said Timothy Ryan director of the office of Thrift supervision whose Agency and the Federal Deposit insurance corp. Are devising new ways of handling Bank and a amp a failures. Spokesmen for the two regulatory agencies will not yet discuss in detail the policy changes that will emerge but Ryan Las outlined the direction the Agency is leading in private discussions. A the. Search for a solution is spurred by projections that As Many As 1,000 More Banks and thrifts could fail Over the next few years forcing the government to spend Many billions of dollars More to pay off accounts protected by Federal Deposit Iris air Ance. Taxpayers already Are bearing the. Projected $500 billion Burden of cleaning up failed a amp is Over a of year period and could be liable for the costs of Bank failures too if the Bank insurance fund is exhausted As Many experts project.  de. Part enl has asked Congress for authority to borrow $70 billion to handle future Bank failures. The banking Industry would be expected to repay this Money but taxpayers would have to repay any amount that Banks could not. The government is drowning in failed batiks and thrifts that it has taken Over along with $160 billion in bad Loans and repossessed real estate. Regulators a re. Becoming increasingly reluctant to keep closing More institutions when they Are struggling to sell the failed Banks and 45,000 pieces of real estate arid other foreclosed property they already have. A decision to defer shutting Down failing Banks could be politically appealing banking experts said. It might get the steady Stream of stories about Bank failures off the front pages 6f newspapers ease criticism that excessive Bank regulation is drying up credit and allow Congress to avoid voting still More Money for the politically unpopular cleanup right away. A and it could keep the banking problems from blowing up into an Issue in the 1992 presidential Campaign. To critics the idea sounds haunt Gly familiar. Many failing thrifts were kept alive with billions of dollars in government assist Ance in the late 1980s, putting the political reckoning off until after the 1988 presidential election the delays Iri creased the eventual cleanup costs thus any move to return to those practices is sure to be highly controversial. Robert Litan a banking expert and economist at Brookings institution who has Long advocated that the government immediately put sick Banks and thrifts out of their misery is now willing to try other approaches. A three years ago people would have. Said this is totally crazy., but now people have become aware there Are significant costs to just shutting them Down a said. Litan. A the Issue has become a tougher Call Quot because the recession is causing More Banks to fail and is driving up the Cost of resolving them. Y. Y the switch in strategies apparently would not require the approval of either the White i Louse or Congress because it would use Legal authority Quot the office of Thrift supervision and Odic already have. The office of Thrift supervision which supervises a amp is. And the Odic which oversees Banks lire separately developing plans for their industries but they Are coordinating their efforts and expect to produce Paral Lei strategies. The main suggestion under consideration is what is called a open Bank assistance in which the government provides new capital to troubled Banks whose own capital has been eroded by losses. Capital is the Money that owners of a financial institution put up to cover possible losses. Under open Bank assistance the gov eminent could buy Stock in a Veak Bank and become one of its owners or could buy Bonds issued by the Bank lending it the Money it needs to keep going. % a tic regulators also Are considering another technique known As a forebear Ancey in which institutions that do not meet minimum standards of financial health but which Are in no immediate danger of collapse Are Given an Clemp Tion from the standards ant allowed to remain in business. Fed shored up Buck in february new York up the Federal Reserve Bank of new York thursday said it intervened on Money markets last february when the Dollar reached an Al time Low against the German Mark a the b a n Kos f i St i n t c rec n Tio n i n 10 month s. A in the seven Days Between feb. 4 and feb 12, the us. Authorities purchased a total of $1.38 billion against Marks operating in concert with other monetary authorities Quot the new York fed said in its quarterly report covering foreign Exchange operations for february through april. It was the feds first intervention since april 1990. A. The Dollar which had been on a Dowier Ward trend against major foreign currencies for months dropped sharply feb 1 to reach a new historic Low of 1.443 Marks feb. 11, while it declined to 127,20yen. A at that Point the Dollar was 2 percent to 3 percent below its level at the end of january and More than 6 percent below its level of Jan 15, before the commencement of operation desert storm a the fed said adding that Money markets had grown unsure if the United states had any intention of preventing the Dollar from falling  feds $1.38 billion Rescue opera Tion of the Dollar was backed by other major Central Banks during the period a the persistence of the Central Banks and Lite cumulative Impact of their opera sets opened finally helped convince mar Ket participants of the official commit mint to ending  s decline a the. Fed said. A a a. A. A. A a Only one month after the lied had to intervene to Rescue the Dollar it stepped into Money markets again a but this time to halt the Greenback s surge. A on March 1l the Dollar Rose sharply against the Mark in Asia a trading and a number if european Central Banks responded by intervening to sell dollars a the cd said a the . Monetary authorities cooperated  a total of $200 million against Marks Ami $30 million against yen in new York., that Saine. Tons in particular a round of concerted Day and later that week to support their Dollar purchases initiated on feb. 12 by efforts in an environment of unsettled european Centra Banks before . Mar Market conditions a Holographic computer memory tested by the new York times Austin Texas a researchers Here Are developing a computer memory sys torn that  the contents of thousands of books in a piece of material the. Size of a scrabble tile. Moreover the new system could be fast enough to retrieve in one second an amount of information that would keep today a computer Dis drives occupied for five hours. A a the experimental memory device stores information using holograms those shimmering three dimensional images that Are commonly seen on credit cards. It is under development at the microelectronics and computer technology corp., a computer Industry consortium Here usually known by the initials Mcc a Holographic storage has been a dream of scientists for 30 years. A Many of the ideas arc nearly As old As hard disk magnetic recording a said Glenn Sincerbox a data storage expert for. International business machines corp., who worked on Holographic memory in the l%0s. But while magnetic recording has blossomed into a huge Industry Holographic storage has never emerged from the lab now however enough Progress has been made that the nearly forgotten dream is reviving. While there Are still formidable obstacles Mcc researchers Are confident that the hol store As they Call it will be available in the second half of this decade. A Quot Holographic storage differs from disk drives in three respects. A a a disk drives store information in Only two dimensions on the Flat surface of the disk. Holographic systems store information in three dimensions inside a cube of special material allowing them to pack More information into a Given space. A disk drives have moving parts ii can take Many thousandths of a second ran con for computers a Lor the recording head to reach the spot on the spinning disk where the desired data is stored Holographic systems by contrast can he built with no moving parts and using lasers can find the needed data in a Millionth of a second. A perhaps most important disk drives store or retrieve a single bit a a Zero or one of computer code a at a time. Holographic systems store or retrieve an image at a time and each image can consist of thousands or even Mil hons of bits the ability to Transfer such Large numbers of bits could make Holographic.-. Memory systems useful for new types of Ultra fast computers that harness thousands of processors working in parallel. Such memories might also work Well with neural networks which Are computers Mode Ted on the brain y