European Stars and Stripes (Newspaper) - August 23, 1991, Darmstadt, Hesse                                Friday August 23, 1991 the stars and stripes b Page 17money Mattei today s tip with Stock prices Down on news of the soviet coup Many . Stock Market strategists Are arguing that the coup along with the resulting economic and financial impacts has made . Stocks a much better buy. A my experience is that these political events do turn out to be pretty transitory in terms of Market Impact Greg Smith the chief strategist at Prudential securities said tuesday. But he added that the turmoil in the soviet Union was Likely to make investing in Europe less attractive while improving the relative standing of markets in this hemisphere. Smith recalled that the negative Market reaction to the killing of chinese students in Tiana men Square was Brief and that Eveir the Hong Kong Stock Market later recovered from the  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 $356.25 an ounce. Silver was quoted at $3.95 announce. Aug. 21 aug. 22 British pound.1.673 1.6940 German Mark .1.758 1.7275 French franc.6.03 5.9225 dutch Guilder .2.0138 1.9615 belgian franc.36.39 35.63 italian lira.1,320,20 1,303.50 Swiss franc. 1.528 1.5125 greek drachma.197.19 192.14 turkish lira.4,599.50 4,552.60 saudi arabian Riyal .3.7501 3.75 Spanish peseta.111.35 108.71 portuguese escudo .152.89 149.13 Canadian dollar.1.1415 1.1438 austrian schilling.12.584 12.2525 norwegian krone.6.973 6.8045 danish krone.6.90 6.7275 these Are unofficial rates As reported by wire 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 1.70 through Friday based on thursdays noontime  Jones new York up a Dow Jones closing Range of averages wednesday 30 industrials 20 transports 15 utilities 65 stocks High 3009.17 1190.41 205.68 1067.57 Low 2941.64 1154.62 202.30 1042.17 close 3001.79 1187.76 205.25 1065.07 change up 88.10 up 45.83 up 3.51 up 32.26 new York Exchange new York up the 15 most Active stocks in new York Stock Exchange composite trading on wednesday. Sales last net chg. 5.759.100 33 to up 2 3.946.800 39% up % 3.240.000 12v6 up 3.201.300 37% up 2% 2,874,600 13% off % 2,871,700 73% up 3% 2.828.100 95% off % 2.816.800 24% off 2.524.300 49% up1% 2.494.000 23% up % 2.196.000 43�?T% up 2.160.800 33 up1% 2.105.800 72% up 2% 1.938.500 29% up 1.907.500 39% up 2% Stock Telen de mex at amp to comi Rwjr Nab h genl motor merry go and Philip Morris ism corp Salomon inc Wal Mart str we stings Al i ban America Pepsico inc genl elec us Marathon waste mgt american Exchange new York a the 10 most Active stocks in american Stock Exchange composite trading wednesday. Stock sales last net chg. Plains re sour 550,100 14% off % metro mob b 486,900 19% up % am medal bldg 474,300 9% up Turner bad b t 456,300 15% up % Rhone i cart 398,800 2% off % carnival cars 343,400 21 up % Marcus disc 331,300 12% up 1 a am expo rate 327,500 3 /4 up % spi bldg i 308,500 3 up 1 a Hasbro inc 298,700 26% up 1% coup s aftermath May provide Fertile ground for foreign firms new York a the failure of the soviet coup May renew Confidence among corporations considering investments there and prompt Western nations to increase economic Aid to the troubled nation experts said wednesday. A i think the soviet Union just passed a test of democracy a said Roger e. Brin Ner chief economist at the forecasting firm Dri Mcgraw Hill inc. A everyone had always feared there would a a coup attempt. I think this coup failed much More rapidly than anyone had feared would be the Case a Brin Ner said. Several companies that have put Money into the soviet Union said they were unfazed by the events of the past few Days and believe these might Lead to greater economic Reform. A i have a lot of Confidence that Good will happen from this a said Aileen Exeter a vice president of Mil International a computer land franchise that has opened five computer land stores in the soviet Union. She said her company is proceeding with plans for two More stores there by the years end. U s West inc., a regional phone company that is building a cellular phone sys Tern in Moscow also does not believe the coup attempt will disrupt its business. Stan Cramton a us West vice president who Heads its soviet operations said by Telephone from Moscow that he continued to negotiate with suppliers while demonstrations were taking place outside his hotel. A a we re hoping that what happened in the past couple of Days will be put behind us quickly a Cramton said. A we have a great Deal of Faith in this country and our assessment of the people we Are going to be dealing  economist Sean of Neill of wefa group another economic forecasting firm agreed the coup attempt could Speed economic Reform. A the soviet Union is a different coun try today than it was last week even with Gorbachev Back in Power a of Neill said. He said the fact that the president of the russian Republic Boris n. Yeltsin was instrumental in toppling the coup May mean he will have a stronger hand in the soviet government. That could Lead to faster economic liberalization which he has promoted. A More Reform minded government could Lead to More Western economic Aid of Neill added. Many Western nations viewed aiding the old Gorbachev government As pouring Money a into an abyss Quot he said. Other experts said that until the soviet Union starts the fundamental transition to a Market Economy and strengthens private property rights Many foreign investors will remain wary. A what guarantee do you have that whatever you put in the soviet Union wont be closed Down tomorrow a said Aidan Walsh International director for the consulting and accounting firm mpg peat Marwick. Prosecution dealt new setbacks in Keating securities fraud Case los Angeles a the judge hearing charges against former Lincoln savings owner Charles h. Keatingjr. Wednesday rejected two Central prosecution theories of How Keating can be convicted of fraudulent Bond sales. In another key ruling Superior court judge Lance a. Ito refused to weaken the traditional instructions Given to a California criminal jury about aiding and abetting a crime. Ito a decisions made at a Brief afternoon court session Are the latest in a string of setbacks for prosecutors seeking convictions against Keating on 20 counts of securities fraud. The decisions came less than a week be fore opening statements in the trial and after lengthy negotiations in Ito a private Chambers which the judge said included a a vehement protests by the prosecution. A it will open things up a bit for the defense a Deputy District attorney William Hodgman the Lead prosecutor conceded outside the courtroom. The charges Center on High yield High risk junk Bonds issued by Lincoln a Parent company Keatings american Continental corp. The Bonds became virtually worthless when Lincoln collapsed in the biggest Thrift failure Ever. American Continental then filed for bankruptcy Protection. Thousands of investors were Hurt. Many were elderly Lincoln depositors who contend they were duped into trading Safe certificates of Deposit for higher yielding Bonds portrayed As Safe investments. Keating maintains that if anyone deceived investors it was Over aggressive Bond Sellers who did so without his knowledge or approval. In a novel theory for a felony Case prosecutors asked to to Rule that Keating could be held accountable simply because he headed american Continental. They maintained that since Keating was ultimately responsible for the Bond sales he could be blamed for failing to control the Bond Sellers. British airways places big Boeing order London apr British airways pc said wednesday that it plans to buy up to 54 Boeing aircraft in a Deal that could ultimately be Worth $6.85 billion. British airways said it has placed orders for 15 Boeing 777 planes and taken options on another 15 of the new aircraft. If All the options Are exercised the Deal would be Worth approximately $3.6 billion. The airline also said it intends to buy 24 747s at a Cost of $3.25 billion. Lord King chairman of British airways said the additional aircraft would cover the groups Long haul requirements to the year 2002. The airline currently has a Fleet of 160 air planes. British airways said the order for the first 15 Boeing 777s Calls for delivery to Start in 1995. Boeing co. Said wednesday in a statement from its Seattle Headquarters that the British airways Deal brings the number of firm orders for 777s to 72, with options taken on another 65. A the Long haul 777 jetliners will be powered by general electrics ge90 engines British airways said. British airways said it intends to use Rolls Royce engines on All the new 747s. British airways becomes the first customer for the ge90, which be aircraft engines of Evendale Ohio says will be the worlds largest most powerful and Energy efficient engine. The latest order is potentially Worth $1.4billion Toge the company said. Five of the 777s on firm order will be initial models with a Range of 4,800 Miles allowing British airways to use them on such routes As London to the Eastern United states Boeing said. The remained of the orders and options Are for a Long haul Model with a Range of 7,600 Miles. Bud Man promotion cancelled in Texas Austin Texas apr Anheuser Busch co. Agreed tuesday to put disclaimer stickers on packages of Budweiser to cancel a a Bud Many promotion that alcohol regulators said violated state Law. The Texas alcoholic beverage commission had threatened the company a License Over the promotion which yields Money for the Texas Parks and wildlife department saying it was an illegal inducement to buy an alcoholic beverage. In the a search for Bud Many promotion customers looked for certificates bearing the likeness of the caped Bud Man character in 12 and 24-packs of Budweiser Beer. For each certificate a Texas customer mailed to the brewery a St. Louis Headquarters Anheuser Busch would make a $1,000 donation to the Texas Parks department up to a total of $250,000. Consumers in other states who find Bud Man collect prizes but a Texas Law makes it a crime Tor liquor companies to induce customers to buy their products. Anheuser Busch had argued that the promotion was Legal but Texas officials said the company failed to offer a Means of participating without making a Purchase. The disclaimer stickers will say that purchasing the Beer will not gainer a prize for the consumer or the Parks department said Joe Darnall the commissions general counsel. Anheuser Busch said it would make a $250,000 donation to the Parks department anyway. Darnall said a hearing was set for sept. 3 to determine whether Anheuser Busch had complied with the agreement. If it has not complied by then its License to sell Beer in Texas could be suspended