European Stars and Stripes (Newspaper) - September 25, 1991, Darmstadt, Hesse                                Wednesday september 25, 1991 the stars and stripes b Page 17_ Money matter today s tip nearly 80 percent of the nation s top business forecasters think the recession ended in the second Quarter of this year and Only 11 percent say there is a better than even Chance of the Economy again slipping into a recession sometime Over the next 12 months according to a Survey released monday. But virtually All of those questioned by the National association of business economists believe that the recovery will be anaemic by historical standards and that the Gross National product will grow Only 2.5 percent to 3 percent Over the next year a Well below the 4 percent to 5 percent registered in the climb out of previous  rates London up tuesday s 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 s352.00 an ounce Silver at $4 27 sept. 23 sept 24 British pound.1.7440 1.7445 German mark.1.6695 1.6685 French franc.5.7010 5.7195 dutch guilder.1.8840 1.8905 belgian franc.34.5234.50 italian lira.1,251.80 1,256.50 Swiss franc.1.4580 1.4515 greek drachma.186.42 186.71 turkish lira.4,655.20 4,665.80 saudi arabian riyal.3.7499 3.7501 Spanish peseta.105 21 105.89 portuguese escudo.143 75 144.38 Canadian dollar.1.1338 1.1343 austrian schilling.11.7790 11.8100 norwegian krone.6.5560 6.5670 danish krone.6.4650 6.4740 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.64 through wednesday based on tuesdays noontime  York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on monday. Stock at amp to company Salomon inc waste mgt inc Pepsico inc com with Edison Tel Fonos de my Bank of Boston general motors Philip Morris get corp Morgan up amp co Battle Man Gold Amer express Mcdonalds corp Fedl Natl mtg american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading monday. Sain Tail net Chol. 2,221,100 38% up % 2,155,200 21% 011% 2.062,100 35% Oil 1 % 1,859,200 29% unch 1.814,200 40% up a 1,411,900 36% Oil 1 % 1,233.300 9% Oil 1 % 1,178,400 36% up % 1,108,100 72% Oft % 1,083,100 28% off % 1,081,800 59% up % 1.066.600 6va up % 987.500 25% up % 987,100 33vs up % 944,700 64% Oil a Stock Salei last net chg. Fruit of loom 326,300 18% up % Dow chemical it 303,400 11% unch or foods inc 300.600 5% unch metro Mobile b 279 800 18% up % carnival cruise 242,900 24% off % Bat industries 226,500 11 up 1-16 Bolar pharm co 225.400 7% up % Wang labs inc b 222.800 2% off % Energy service 220,400 2 off % Omi corp 220,200 9% up % Dow Jones new York up Dow Jones closing Range of averages monday 30 industrials 20 transport 15 until ties 65 stocks High 3037 79 1194 46 20919 107697 Low 2997.76 1178.07 207 12 1063 11 Clem 3010.51 1183 00 20831 1067 84 change 0118 72 0 14 24 up 0 12 0112 77 prescription drug prices soared 152% in 10 years study says Washington a pharmaceutical manufacturers raised prescription drug prices 152 percent in the last decade. Nearly triple the Overall inflation rate a congressional study said monday. The increases paralleled a steady climb in the earnings of pharmaceutical companies according to the report prepared by the democratic staff of the Senate special committee on aging. The increases show congressional efforts to stabilize prescription drug prices have failed the study said. It said stronger action is needed including perhaps tax Breaks. A attempting to shame the drug manufacturing Industry into being responsive to the needs of the american Public is obviously not  the report said. The pharmaceuticals manufacturers association responded by saying that a prescription drugs Are the Best bargain in health  the group told the Washington Post that drug companies earnings finance research that is of general Benefit to the Public. A a cure for alzheimer a would save the United states $90 billion a year Quot the group said. Quot when a cure is found it will be Medicine invented by our research based  the Senate report said prescription drug prices Rose in the 1980s at an annual rate of 20 percent faster than the rate of medical inflation. The report was part of continuing scrutiny by Congress of drug pricing in recent years As lawmakers have grappled with the Issue of skyrocketing health care costs. Last year they passed a Lull aimed at forcing drug companies to give the medicare program the same discounts they give other bulk buyers. Based on the first six months of 9u, however the general inflation rate for the full year was estimated to be 3.3 pc cent. While the prescription drug inflation rate was 11.2 percent according to the report. The report comes on the heels of a general accounting office study that shows some drug companies Are circumventing last years legislation by raising prices charged to buyers who usually receive discounts. Government delayed freezing assets of financier tied to Bocci critics say new York a Federal officials waited about three months before moving to freeze the assets of Ghaith phar Aon at a time when the Bocci linked millionaire was Selling off pieces of his . Empire. A the delays Here Are astonishing a said Jack Blum a Washington investigator and one of the first to uncover Bank of credit and Commerce International a questionable ties in the United states in the late 1980s. Blum and two other Bocci investigators both speaking on condition of anonymity said the delay shows How the government is mishandling the Bocci probe. International regulators seized the Bank july 5, accusing it of widespread fraud. The Justice department already has been strongly criticized for not moving sooner on the rogue Bank. Other investigators said it was unfair to criticize the Federal Reserve and Justice department for waiting to freeze phar Aono a assets. They say both agencies Are attempting to prosecute an enormously Complex Case. Virgil Mattingly general counsel for the Federal Reserve Board said in an interview a there was no undue delay  the Federal Reserve and Justice department said last week they were seeking a $37 million civil Fine against phar Aon because he acted As by Cir a secret front Man in the 1985 acquisition of a California Bank. That suit also sought to freeze Pharaon s . Assets estimated at about $226 million in 1990. Pharaon a Harvard educated businessman is accused in a separate administrative Case with acting As a front Man for a acts Clandestine acquisition of the National Bank of Georgia. Pharaon is one of the most prominent saudi investors in this country. He was among the first arabs to buy a . Bank the Bank of Commonwealth in Detroit in 1975. He sold the Bank about l1/ years later. In court papers Thomas c. Baxter of the new York Federal Reserve said Pharaon sold his 80 percent interest in a Small new York debt trading firm for $1 million in june shortly alter the fed tried to subpoena him. In july Pharaon a Georgia holding company interred cd inc., arranged the Sale of american Southern insurance corp. For $33 million. A Pharaon has every incentive to move those assets in the United Stales offshore to prevent their seizure or attachment a the Federal reserves civil suit said. Regulators said Pharaon could be in a financial squeeze because of pressure by by Cir a court appointed receivers and shareholders to repay his Loans Pharaon from the Bank. Those Loans Are estimated at $288 million. Mattingly said the Federal Reserve did not move on Pharaon sooner because it was unclear whether the Justice department would bring a criminal Case against the businessman which would take precedence Over a civil lawsuit. Comptroller underwire for laxness plans to boost Bank supervision Washington up . Comptroller of the currency plans to hire 300 More Bank examiners increasing his staff by 15 percent to improve supervision of Small National Banks. Comptroller Robert Clarke facing stiff criticism from Congress for his supervision of Banks announced his decision in an address to the consumer Bankers association on monday and in a letter sent sunday to House banking chairman Fleury b. Gonzalez a Texas. Clarke said the staff increase would enable his office to perform full examinations of All 3,900 National Banks at least once every 18 months. Currently his office regularly examines Large National Banks with assets of More than $1 billion and smaller Banks showing financial weakness. However it does not regularly examine Small healthy Banks. Clarke said his office would increase the assessments it charges National Banks which will pay for the new examiners. The Senate banking committee will begin hearings thursday to consider whether Clarke should be confirmed to a second five year term As comptroller. The hearings Are expected to be Long and contentious. Democrats charge that Clarke has been too lax in Bank supervision while republicans charge that he has contributed to a credit crunch by being too Tough a regulator. Two weeks ago the House banking committee charged that the comptrollers office had been lax in supervising Small Banks. Caterpillar May end free health care Peoria Iii. Apr Union workers at Caterpillar inc. Would give up their free health care and begin paying monthly premiums for health insurance in 1992 under a company contract proposal a newspaper has reported. A s journal Star providing details of the company a proposal for its 17,000 factory workers represented by the United Auto workers Union. A a it a not appropriate for us to be discussing our contract proposal publicly Quot a Caterpillar spokesman declined to said Keith Butterfield company spokes comment monday on the report in Peori Man. The current labor  expires sept. 30. The two sides Lixe yet to sol a Dale Lor negotiations. Jaw spokesman Karl Mantyla could not be reached Tor comment. The Union has consistently declined comment on Caterpillar proposals