European Stars and Stripes (Newspaper) - June 15, 1991, Darmstadt, Hesse                                Saturday june 15, 1991 the stars and stripes Page 17 i 1, m a in i m s m. A a w. Pm a it m Money matters today a tip june 13 june 14 .1.6385. 1 6395 1 80 1 7870 61185 6115 2 026 a. 2.0282 37 1075. .36.87 1,341.90 1 342 45 1 55 1 534 195 90 ,195,90. 4,236.30 4,248,70 3 75 a 3,75 .1.11.43 a 112.30 159 27 160.16 1 144 1 1431 .,.12.643 Quot 12 661 7.016 7 037 6 9265 6 943 if you a like to see some of your estates assets going to work now the $10,000. Annual gift tax exclusion helps you share the wealth today rather than after your death. A by making gifts of $10,000 per recipient per year you have powerful tool for distributing assets a said John Moore an academic associate for the Denver based College of financial planning. The gift is not taxable to the recipient and it can help the donor manage the size of his or her estate during their lifetime. Also recipients need not be relatives. Conversion rates London up fridays 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 at $367.00 an ounce Silver at.$4.51. A British Pound. German Mark. French franc. Dutch Guilder belgian Iran. Italian lira. A. Swiss franc greek drachma. Turkish lira. Saudi arabian Riyal. Spanish peseta. Portuguese escudo. Canadian Dollar. Austrian Schilling. Norwegian Krone. Danish Krone. These arc unofficial rates As reported by wisc 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 1.76 through monday based on fridays noontime Price fixing. New York Exchange new York up  15 most Active stocks in new York Slock Exchange composite   a a Slock fur Nabisco hid. Glaxo holdings Varity corp a Aamer express Pepsico inc. A. Ism corp. Edlef Onosode my. Philip moms. Fedl Natl Mage Ford motor co. Sobering plough general motors a Bass Pic Exxon corp Varco in american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading thursday a Stock Chambers Dev a Conti air Hodgs Amdahl corp Ivan corp Pegasus Gold Wang labs inc b Dow. Chemical it a carnival cruise Echo Bay mines Energy service sales last net Chol. 2,224,100 10 % a up a 2,077,400, 41 % up 1 % 2 023,900 2% up % 1,985.600 24% v a us % Oft % 1,949,400 30 1,893,900 100 % Oft 1,740,500 26% off % 1,737.600 65%off % 1,460 300. 46 a a a Oft t ,1197,000 a 35 % a Oft % 1,130,700. 49% a 011% 1,071,000 42 % a a a a a off vib 1,043,300 a a 15%a off %. 983,200 57 %. Up % 977,900. 9% a Linch sales last net chg. 1,067,100 a 25 % a a up % .850,900 1% of % a 520,000 16 Oft %. 460,000 26% up 2 247,900. 13% u a 243,100 3% a a off % 240,100 7% a. Unch 236,000 22% off % 230,000. 9% of 162,300 2% off % Dow ones new York up Dow Jones closing Range of averages thursday a a a 30 industrials 20 transport. 15 utilities 65 stocks High 2982.11 1221.09 208.75 1072.30 a Lew 2942.53 1206.83 it 205.86 1058.43 close 2965,12 1217.56. 208.38 1067.66 change up 3.13 up 5-99, up 1.39 up 3,13economic indicators pointing to conclusion of . Recession by James risen. The los Angeles times Washington the recession of 1990-91, brought on 11 months ago by a credit crunch and a real estate slump and deepened by the persian Gulf crisis is slowly coming to an end. Amid fresh signs of a turn in the nations economic data a consensus is building among leading Washington policymakers and private economists that the Economy has bottomed out and that a modest recovery is in sight. At the White House Bush administration officials Are on the verge of officially declaring the recession Over. In july the administration plans to release a formal economic forecast that is almost certain to claim that the Economy began to grow again during the second Quarter. The new White House forecast still being developed will Likely predict a slight upturn of about 0.3 percent in the nations output of goods and services or Gross National product during the second Quarter. That would follow two consecutive declines in output in the fourth Quarter of 1990 and the first Quarter of this year. A a a the forecast is expected to predict that the Economy will grow at a rate of 2 to 3 percent in the second half of the year. Optimism about the Economy is spreading beyond the normally upbeat White House. A Survey released this week by the Blue Chip economic consensus newsletter found that most of the nations top economic forecasters Clieve traders at the new York Stock Exchange wait for the new after hours session to Start. The recession either has ended or Wilt end by next month at the latest. That view5 has become widespread thanks largely to a Sharp improvement in a Range of economic indicators Over the past few Days. The government reported thursday that retail sales jumped a. Surprisingly Strong lit percent in May. With demand for goods picking up during the month. It was the largest gain since february with improvements coming in a wide Range of products from automobiles to clothing. 1. Also thursday the department of labor reported that the number of jobless americans Sec King unemployment benefits for the first time fell sharply in late May a key indication that the Pace of layoffs is slowing nose shares traded lightly in late session by Victor f. Zonana los Angeles times new York the new York Slock exchanges bid to recapture business lost to foreign exchanges and other markets got Oft to a slow Start thursday As Only 2.33 million shares Ucic traded in the inaugural pair of electronic sessions following the big Board s 4 pm. Hot closing Boll. Quot Quot Liis is a tiny first step in the Onward March towards a continuous 24-hour-a-Day Market a a said Richard a. Grasso president Aid executive vice chairman of the  pronouncing the results of the extra 75 minutes a right on target a. Grasso said that thursdays activity a a is by no Means indicative  Success or failure Quot of the program. A Quot a a a a a the 2.33 million shares traded m the after hours sessions represented  1.6 percent of the Days total volume of 147.21 million shares. Some 270 stocks changed hands in the special sessions. A median priced Home too elusive for some Washington a minorities Young people and renters of All backgrounds have Little Chance of buying a median priced american Home particularly in the expensive Northeast and West the census Bureau said thursday in fact 57 percent of All households could not afford a median priced House \ with a conventional 30-year, fixed rate mortgage according to the report a who can afford to buy a House a a median priced House is defined As one that is More expensive than half the. Homes in a Market and less expensive than half 1it even a modestly priced House defined As one where 75 percent of Homes in the Market Cost More is too expensive for 48 percent of the nations households the report said. And 15 percent could not afford to buy a Home at even the lowest prices. The study which Analysed the income debt Levels and savings of 12,000 House. Holds surveyed in the Spring of 1988, found Sharp differences in the ability to buy a Home by Region age marital status and race or ethnic background in addition few renters seemed Able make the move to Home ownership. For instance 77 percent of Black families and 74 percent of hispanic families could not buy a median priced Home compared with 43 percent of Whites and 46 percent of non hispanics. Thirty nine percent of married couples could not afford a median House compared with 75 percent of All single people and 87 percent of single women with children. 1 Twenty seven percent of families headed by individuals Between 55 and 64 years old could not Purchase a Home versus 94 percent headed by individuals younger than 25. A the study found that 36 percent of current homeowners did not qualify for a Fri Dian pric amp a Home compared with 91 percent of the renters. A this seems to be telling us that the step from renting to Home ownership is a big step for a Large number of households and perhaps a bigger step than was generally realized a said economist Mark Obrinsky of the pc Octal National mortgage association. By Region the percentage of House holds who  afford a median House were the West 63 Northeast 59 South 56, and Midwest 51. The median prices were Northeast $100,001 West $95,000,. And Midwest and South $60,000. Howard a Savage a census Bureau statistician who wrote the report with Peter j. Fronczek said the most surprising finding was that lower interest rates which translate into lower monthly mortgage payments did almost nothing to improve renters prospects of Home ownership. A it helps some but its not statistically significant. They just Flat Don t have the Money you can lower monthly payments but if they done to have enough for. A Down payment then its an irrelevant question a Savage said.1 economist Mark Zandi of regional financial associates in West Chester pa., said a a there a no Short term solution to the problem but something will have to be done. This could Lead to social and political unrest sometime in the future pc cause in America people believe a pome is a Birthright. Its going to be a problem if they can to afford