European Stars and Stripes (Newspaper) - September 21, 1991, Darmstadt, Hesse                                Page 18 b the stars and Stripe Money matters saturday september 21, 1991 the number of americans filing new claims for jobless benefits fell in Early september but the drop was largely dismissed As a Fluke caused by a shortened workweek rather than any hiring rebound. For the week ending sept. 7. There were 402,000 americans filing first time claims for unemployment benefits a decrease of 17,000 from the previous weeks Mark of 419,000, the labor department reported thursday. It was the lowest level of new claims since the last week of  rates London up Friday s rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold go died at s349 00 an ounce Silver at $4 09 sept. 19 sept Al 1.7275 1.72.r 5 1 6060 1 6925. 5 7425 5 7630 .1 8975 1 9090 34 8200 34 9400 1.261 65 1.270.70 1 4750 1 4755 187 20 188 14 4.847 20 4.671.00 3 7502 3 7502 .105 76 106 40 144 70 145 47 1.1365 1 1350 11 8600 11 9225. 6 5980 6 8370 .6.5125 6 5430 British Pound German Mark French Iran dutch Guilder belgian Raric italian lira Swiss franc greek drachma turkish lira saudi arabian Riyal Spanish peseta portuguese escudo Canadian Dollar. Austrian Schilling norwegian Kine danish Krone these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. T he Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.66 through monday based on fridays noontime  York Exchange a the 15 most Active stocks in new York Slock Exchange composite trading on thursday Stock Salat late net chg. Limited inc 8,513.000 26 a off a Royal dutch p 6949.200 81 a Ott or Tel Lori d Asp 4.595.500 34 is up 2 vhf blocks to ent 4,290,200 12v� up h at amp to company 3,431.100 381 up h Union Hue 2.990.800 33 or up 1 Amer top less 2,9t4,do0 261 up a it fur nub bldg 2,722.400 11 a Oft Glaxo Hodgs 1.904,300 47 a up 1 Wasle mgl 1,820,500 35 in up syntax corp 1.745.200 44 a up 1g ism pm p 1.743,800 104 h Oil a Pepsico inc 1.838,000 29 /. Up Philip to 1.487,700 72 Oil i trans co Togy 1,447.800 19 Oil 5 american Exchange new York up a the 10 most Active stocks in american stuck Exchange composite i trading thursday Stock sate Lait Nal chg. Carnival Cis 464,400 243 up 1 Rea Licare pm 371.500 53k Oil a Energy scr 360,300 2v lip 1 j Belluc Coli 352,700 133 up 1 a a metro mob 6 343,900 18 unch Natl Patent 279.400 5 up n Forest labs 279,100 33v up 3 Kanyei Ortho 274,000 6 up i n fruit of loom 260,800 18 Ott 3 Hasbro Iru 228,900 28v up 1 do Jones 1 new York Lupin a a Daw Janes closing Range of averages thursday 30 Industrial a 30506 3002.91 i Clou 302437 Chanaa up 6 48 20 trans Purl 11bb 12, 1167 31 1181 24 up 7 05 on 0 25 15 undies 208 75 206 6? 208 00 65 stocks 1077 65 106102 1069 97 up 2 95 dec inflation rate drops below 5% Luxembourg a the european Community s average annual inflation rate fell to 4.9 percent in August from 5.3 percent in july the dec statistics Agency eur stat said Friday. Dec inflation stood at 5 percent in August 1990. Increase in imports pushes july deficit to $5.9 billion by the Washington Post Washington the . Merchandise Trade deficit jumped by almost $2 billion in july to $5,9 billion on increases in imports of foreign cars clothing television sets and other consumer products the government reported thursday. Imports surged by 6 percent to $41.2 billion the highest level since january while sales of . Products overseas which sagged in the two previous months Rose by eight tenths of a percent to $35.3 billion. Even though the monthly increase of exports was Small the Overall figure was the third highest on record. The Trade deficit jumped 55.6 percent Over june s revised $3.8 billion figure which was the Best showing in More than eight years. Michael Evans of Evans economics a Washington forecasting firm called the Trade figures a a terrible and said they showed that the . Economy is essentially stagnant and unlikely to grow this year. He said the increase in exports was a a disappointing compared with a growth rate of close to 7 percent earlier this year. He said the import bulge resulted from the need to restock inventories of consumer goods after a Spring buying splurge that followed the end of the persian Gulf War. With retail sales declining the imports do not appear to have been drawn in by an increase in consumer demand which would signal an upsurge in economic growth he said. Michael Drury a senior economist with the Boston company a economic forecasting company said the import in Trado figures for july . Trade deficits Japan $3.8 billion up $700 million China $1.3 billion up $300 million Taiwan $900 million up $200 million the july Trade balance with Western Europe was virtually even after the United states ran a june surplus of $1.7 billion. The United states ran surpluses of $400 million with Mexico up $100 million and $100 million with the soviet Union the same As june. Canada $500 million up $100 million Hong Kong $300 million up $200 million Korea $300 million up $100 million crease was caused by a a Fluke Quot jump in automobile imports that was not justified by sales figures. Quot if you dismiss that Quot Drury said a imports have been the same Over the past three  Auto imports Rose by $600 million textile and clothing imports grew by $300 million computer imports increased $150 million and imports of television sets and other consumer electronic products were up $75 million. Nonetheless Commerce Secretary Robert a. Mosbacher saw a Bright spot in the exports report. If they continue at the july rate for the last five months of the year he said . Exports would a amps Susan Harris reach a record High of $419.3 billion for the year a a 6.5 percent increase Over 1990, although that still would he less than the 8.2 percent jump Between 1989 and 1990, exports of manufactured goods which had been running Strong through most of the year declined in july by $2.2 billion standing $1 billion below the monthly average for the first six months of the year. Although the United states ran a $2.2 billion surplus in Trade of High technology products that was Down sharply from june s surplus of $3.6 billion. Exports declined by $1.2 billion while imports nudged upward by $300 million. Buyers unfazed by action allowing iraqi Oil sales by the new York times the world Oil Market appeared to Lake Little notice of the United nations decision thursday to allow Iraq to resume limited exports because buyers had been expecting the move for weeks. But experts said Iraq could still cause a Price Jolt because president Saddam Hussein might not go along with the conditions tied to the sales or because bureaucratic problems could delay exports. In the Long term however a return of iraqi Oil to world markets would tend to push prices lower. Some analysts believe this . Decision which covers a six month period is Likely to be the beginning of uninterrupted sales by Iraq. The United nations said Iraq could Export $1.6 billion Worth of Oil Over six months which at current prices comes to about 500,000 barrels a Day. This is a substantial amount on world markets. For example the combined quotas of All the members of the organization of Petroleum exporting countries is now 22.3 million barrels a Day. Open is scheduled to meet tuesday in Vienna Austria and the organization May set a new quota based on anticipated demand for Oil and production from around the world including Iraq. Before the War iraqis quota was 3.14 million barrels a Day but according to Thomas Blakeslee an Oil expert at Pegasus econometric group of Hoboken n.j., a they need approximately $1 Bil lion in parts to get production Back up to those Levels a Blakeslee said 500,000 barrels a Day is the maximum that the country could Export now others put the figure slightly higher. The exports would be through a pipeline across Turkey which before the War handled 1.2 million barrels a Day Blakeslee said. Iraq will face problems in re entering world markets experts said. A fall the other Sellers have locked their markets up a said Lawrence j. Goldstein president of the Petroleum Industry research foundation in new York. A a they re going to have to Force their Way into the system Quot he said. Normally an exporter can offer a buyer continuity he pointed out but All Iraq can offer is Price. Therefore the Price will probably be lower than usual. Moreover he said american and British companies May be reluctant to appear to be first in line to buy so the first exports will Likely go to the far East. Goldstein pointed out that while the United nations has said Iraq can buy $900 million of a a humanitarian Quot goods with the proceeds of the Sale the organization has not specified How these will be distributed. Ii the distribution is by the United nations. He said. Saddam May refuse to no along and scrap the Sale which could push Oil prices  giant to Cut 105 positions by the new York times new York in the most drastic staff reductions in almost two decades time inc. Magazine co. Said thursday that it will Lay Ott 105 editorial employees at six of its magazines. The editorial cutbacks come in the Wake of another 500 layoffs on the magazines business Side that Lime inc. Made with Little announcement Over the last two months. They bring the total number of layoffs to about 10 percent of the 6,000 staff positions at Fortune Fite Money people. Sports illustrated and time. But there will be no employee reductions at entertainment weekly and sports illustrated for kids the two newest time inc. Publications. Officials of time Warner inc., the magazines Parent company refused to detail the number of layoffs that would occur at each Magazine. The cutbacks come As the magazines find themselves mired in an Industry wide advertising slump. The first six months of this year saw declines in and pages at most Lime inc. Magazines. Life Magazine was Down 28.6 percent from a year earlier while Fortune was Oti 23.5 percent and time was off 21.2 percent