European Stars and Stripes (Newspaper) - August 22, 1991, Darmstadt, Hesse                                Thursday August 22, 1991 the stars and stripes Page 17 United airlines said monday that it would match fare reductions announced earlier by us air and Northwest airlines. The reductions would apply Only in those markets where United competes with the other two airlines said spokeswoman Sara Dor Nacker. Northwest said it was reducing fares by As much As 50 percent on some overseas routes during selected dates this fall and Winter. Tickets must be purchased by sept. 18 and travel completed by april 8,1992. Us air said it is instituting 25 percent discounts on some Domestic  rates London up wednesdays 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 $355.50 an ounce. Silver was quoted at $3.94 an ounce. _ aug. 20 aug. 21 British pound.1.6415 1.6495 German Mark. 1.8055 1.7875 French franc.6.09 6.0625 dutch guilder.2.0378 2.0138 belgian franc.37.01 36.76 Kalian lira.1,340.25 1,332.50 Swiss franc.1.548 1.543 greek drachma.198.50 19719 i is lira. .4,628.10 4.599i50 saudi arabian nyal.3.7501 3.7501 Spanish peseta.112.43 m.35 portuguese escudo.154.40 152.89 Canadian dollar.1.1429 11415 austrian Schilling. 12.8o 12 584 norwegian krone.7.0535 r 6973 danish krone.6.9525 6.90 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency  York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on tuesday. Slock sates last Nelcha. We stings Al 3,646,000 22% up i Heinz he co 3,584,300 45 up i Wal Mart str 2,777,400 48% up 1 is genl motor 2,760,600 35% off at amp to company 2,637,800 38% up % Philip Morris 2,473,200 70% up Virr Nab bldg 2,454,700 11% up Telen de mex 2,297,900 31% up it corp 2,085,900 28% up i Ford motor 1,940,100 29% off Salomon inc 1,939,800 25% of ban America 1,887,300 42% up1% us Marathon 1,700,000 28% off genl elect 1.690,100 70% up merry go and 1,669,900 13% off1%american Exchange new York american Stocka the 10 most Active stocks in change composite trading tuesday. Stock sales last net chg. Plains re sour 617,000 15% up 6% Kirby corp 331,200 12% up Dow chem it 328,700 8% up % Amdahl corp 315,600 13% up Bergen Bruns 300,200 27% unch Echo Bay mine 288,000 8% off % merr Lyn p it 256,900 4% off Hill Haven up found Atn hath 249,900 3 up % 249,200 22% off 1% metro mob b 244,900 19% up a Dow Jones new York up a Dow Jones closing Range of averages tuesday a huh Low Doss chef to 30 industrials 2937.39 2886.65 2913.69 up 15.66 20 transports 1163.08 1130.82 1141.93 off 5.99 15 a woes 202.37 199.49 201.74 up 2.00 65 stocks 1043.53 1022.86 1032.81 up 3.09 . Analysts say soviet coup May stymie More investments by Hob Wells the associated press new York a the overthrow of Mikhail s. Gorbachev by hard line communists could scare off the Western investment that might help Rescue the moribund soviet Economy analysts say. Capitalists already have to navigate a Maze of conflicting regulations and Cope with stodgy bureaucrats to launch a venture. And profits from their soviet operations come in rubles which Are worthless outside the soviet Union. The coup adds further doubts for Western investors and stands to ruin the soviet Economy soviet policy experts said. A this is like marital infidelity a said Padma Desai a professor of economics at Columbia University a graduate school of business in new York a the business Confidence will be so shattered As result of All of  David c. Johnson an economist at the Washington based plan econ research associates inc., said a we can see a situation where Western firms will be very reluctant to invest in the soviet Union for Many years to  for those who Are already there a random sampling monday showed they do not have immediate plans to leave the soviet Union unless things turn violent. Pepsico and Apple computer said they would not recall their employees or cancel soviet business dealings. American Telephone amp Telegraph said it is waiting to see How the coup unfolds before reconsidering the opening of a Moscow office. Most businesses surveyed informally about the coupes effect on Western Trade and investment said it was too Early to speculate. A this May result in a changing of the rules but not a change of the concept a said Ray r. Irani chairman and president of Occidental Petroleum corp. A there is no question that Down the Road investments in the soviet Union president Mikhail s. Gorbachev a ouster by military hard liners has undermined the already fragile relationship Many Western businesses have with the soviet Union. Here s a look at How the Western world has invested in the soviet Union As of april 1, 1990 Western partner country w. Germany Finland . Fez Austria Zzz great Britain jigs number of joint ventures investment in joint ventures in millions us 244 175 247 99 96 Italy 95 Switzerland f 691 Sweden i 561 Lili $60 in France i 541 Canada 1 j37 Japan 27 Spain o21 Australia q21 Netherlands z20 other i 70 i $75 $9 . $30 . . A $38 a former West Germany estimated figure for end of 1990 source plan econ research associates inc. They will have to Deal with the  plan econ said that at the end of 1990 there were 2,050 joint ventures operating in the soviet Union Worth $3.1 billion. The United states accounted for 247 joint ventures Worth $360 million. But of registered ventures Only an estimated 35 percent to 40 percent Are in operation experts have said. Telecommunications computer manufacturing and software and medical supplies have been ap/s4s among the most successful. The coup comes at a time when the soviet Union was slowly gaining the Confidence of . Businesses. In july the group of seven nations agreed to offer the soviet Union an associate status with the International Mone Tail fund and the world Bank. That would provide the soviets with technical help in reforming their Economy but no Cash. Salomon executive to testify before congressional panel new York apr As Salomon inc. Sought to contain the damage from a trading scandal interim chairman Warren e. Buffett agreed to testify before members of Congress who Are clamouring for reforms in the government securities Market. Buffett the multimillion air investor from Omaha neb., who took control of Salomon As its top executives were brought Down by the scandal said monday that he would appear sept. 4 before the House telecommunications and finance subcommittee. The subcommittee is chaired by rep. Edward j. Markey d-mass., who says stricter regulation of the government securities Market is needed to preserve the integrity of the process through which the Treasury finances the National debt. Salomon which has admitted making illegal bids in Treasury auctions says it will cooperate fully with four Federal agencies that have launched investigations into the activities of its brokerage Salomon Brothers. A the new York times reported tuesday that the securities and Exchange commission has asked the other 39 firms authorized to Deal directly with the government at auctions to provide information to investigators. The report was the first indication of a widening investigation into improper Treasury securities bidding. The newspaper quoted unidentified people who have been briefed on the inquiry As saying the government has asked the firms to voluntarily comply with the request. Salomon also continued to meet with shaken customers who used the brokerage to place orders for Treasury securities. But it was Clear some clients remained sceptical. Salomon has admitted cornering More than its fair share of the Treasury Market at times by submitting bids in the names of customers without their authorization. The Treasury department on sunday prohibited Salomon from bidding in the names of its customers. The brokerage is being investigated by the Justice department the Sec the Treasury and the Federal Reserve. None would comment monday.. Recovery lifting world from recession new York up the recession that had ensnared economies around the world seems to have ended helped by modest recovery in the United states a private research organization said monday. The conference Board said however that renewed worldwide economic expansion will proceed a at a leisurely  measured at an annual rate As of May the boards composite leading Index for 11 of the worlds major industrialized countries registered a decline of 1 percent up 2 percentage Points from three months earlier. Sparked by a sentiment reversal among investors and Consumers alike the business Cycle in the United states staged a turnaround Early last Spring said the Board which researches business matters