European Stars and Stripes (Newspaper) - October 02, 1991, Darmstadt, Hesse                                Wednesday october 2,1991 Zenith laboratories Stock Price dropped 38 percent monday after a supplier told the pharmaceutical company it would not Supply raw materials for a new Antibiotic. In Over the counter Nash a trading Zenith closed at $12.23 monday Down $7.50. Gema s.a., a Spanish company wholly owned by Sandoz pharmaceutical informed Zenith laboratories late Friday that it would not produce the raw materials needed for its new Antibiotic Ceca Troxil according to Richard m. Shepperd Zenith president. A  is one of the leading products that we were attempting to get to Market a Shepperd said. Conversion rates London up tuesdays 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 $353.90 an ounce Silver at $4.16. Sept. 30 oct. 1 British Pound. 1.7535 1.7488 German mark.1.6620 1.6655 French franc.5.6665 5.6755 dutch guilder.1.8729 1.8770 belgian franc.34.2500 34.4000 italian lira.1,245.20 1,246.00 Swiss franc.1.4505 1.4525 greek drachma.186.04 185.80 turkish lira.4,680.10 4,699.30 saudi arabian riyal.3.7503 3.7503 Spanish peseta.105.19 105.44 portuguese escudo.143.71 143.78 Canadian dollar.1.1316 1.1314 austrian schilling.11.6900 11.7375 norwegian krone.6.5010 6.5270 danish krone.6.4110 6.4365 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 1.63 through wednesday based on tuesday s noontime Price fixing. New York Exchange new York up York Stock Exchange the 15 most Active stocks in new composite trading on monday. Slock Salei lest net chg. At amp to company 2,336,700 37 i unch Imp inc 2,070,800 14% off vib Community psych 1,901,200 17% up Amer express global Marine 1,756,800 25% off 1,720,200 3% off % it corp 1,540.400 31% up Pepsico inc Uniss corp 1,434,500 28% up 1,337,000 4% off Vic com with Edison 1,320,200 40% unch Natl med enter 1,308,100 21% off Vic Citicorp 1,282,300 14% up Rwjr Nabisco hid 1,260,800 11% up ism corp 1,234,100 103% up 1% adv Micro docs 1,230,000 9% off % Philip Morris 1,094,100 72% unch american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading monday. Stock metro Mobile b Energy service Wang labs inc b Amdahl Corn Echo Bay mines fruit of loom Forest labs inc Americus get so system to dusts new York times sales 719,300 546.900 497,200 347.700 306.700 277,500 251,600 188,100 161,400 152.900 last 21 % 2% 2% 13% 8 20% 32% 9% 3 22% net dig. Unch off i unch off % up up i unch up i up 1 up % Dow Jones new York up Dow Jones closing Range of averages monday High Low close change 30 industrials 3032.87 2982.78 3016.77 up 10.73 20 transport 1199.58 1177.72 1192.88 up 5.29 15 utilities 213.01 209.31 212.82 up 2.38 65 stocks 1080 06 1061.57 1074 93 up 5.27 the stars and stripes c Page 17moneyjnaftej Exxon agrees to pay $1 billion for government Oil spill claims Anchorage Alaska apr Exxon Fine a $50 million to the . Treasury Anchorage Alaska apr Exxon corp. Agreed to a $1 billion settlement of state and Federal lawsuits Over the nations worst Oil spill a $25 million More than a similar package rejected by a judge As too easy on the Oil giant. The agreement announced monday by gov. Walter j. Hickel guarantees More Money for restoring Prince William sound but otherwise closely resembles the plea bargain rejected in March by . District judge h. Russel Holland. Holland said then that the criminal penalty in the package was not severe enough to deter polluters. The judge has final say Over the new agreement. The legislature also voted Down the first Deal but Hickel said he would not give lawmakers a Chance to kill this one. A i think this is a Good settlement a he said monday. Like the first package this one if approved would be biggest settlement of an environmental damage Case in . History Exxon is scheduled to go on trial on Federal criminal charges next week. Holland will not discuss the Case outside the courtroom. The Deal would Settle the states civil claims against Exxon and any the Federal government might have brought. However it would not affect the private lawsuits seeking a total of $59 billion Frorer the Oil giant. Under the original proposal Exxon would have paid a $100 million criminal Fine a $50 million to the . And $50 million to Alaska. Under the new plan Exxon would pay a criminal Fine of $150 million with $125 million forgiven because of the company a voluntary expenditures to clean up the sound. The rest $25 million would go to the Federal government. Exxon would also pay an additional $100 million in restitution split evenly Between the state and Federal governments. All $100 million would go to ref storing Prince William sound which Alaska attorney general Charles Cole said made this Deal a substantially better than the first. As in the previous settlement Exxon would also pay $900 million Over the next 11 years to Settle the state and Federal governments damage claims. Hickel said state negotiators tried to hasten the payment schedule but failed. The net difference Between the two plans is $25 million. Like the old Deal the new one includes a a Are opener clause that would let the governments seek an additional $100 million if new spill damage is found. Exxon and its shipping subsidiary agreed to plead guilty to four misdemeanours. Two Federal felony pollution charges would be dropped. Exxon officials in Irving Texas declined to discuss the agreement. The Tanker Exxon Valdez spilled nearly 11 million Gallons of crude Oil after it hit a reef in March 1989. Alaska gov. Walter j. Hickel announces details of the Exxon settlement monday. Americans hooked on goods Cash from Japan Chrysler official says Milwaukee up the relationship Between the United states and Japan has become one of dangerous dependency the president of Chrysler corp. Said monday. Robert Lutz likened it to that of an alcoholic and his or her spouse. A the United states and Japan have moved past the Point of healthy Mutual dependency and have moved into what psychologists would Call a state of co dependency a he told delegates at a business conference. A the substance abuser in this relationship is of course the United states. We re hooked on japanese products and we Are also hooked on japanese  Lutz told the 500 business leaders gathered for the 23rd meeting of the Midwest .-Japan association that Japan a behaviour is also dysfunctional because it allows the addiction to continue. A in one Way or another both parties Are denying reality. The result is both line up putting themselves on the Road to an eventual crack up a Lutz added. He said however that he did not have any specific answers to the Trade imbalance problem. A if nothing else enlightened self interest would dictate that we All try to work together to find a cure to our problem before it becomes truly disabling a he said. The conference attended by some 150 japanese business leaders opened Sun Day with an announcement that a major japanese company had purchased a suburban Milwaukee company and planned to create 175 jobs Over the next five years. Sumitomo electric industries announced it had purchased americans cutting tools based in the suburb of music go state and business leaders said they hoped the conference would Spur japanese investment in Wisconsin. Jim Enriquez of the state department of development said japanese investment has come in phases. He said the first wave included construction of Large automobile manufacturing plants and the next wave will be smaller High tech factories. Law Deere of contract Extension averting possible strike in 6 states Moline 111. Apr negotiators for the United Auto workers and Deere amp co. Agreed to a contract Extension late monday night shortly before a Midnight deadline for a possible strike by 13,000 Blue Collar workers in sue states. Unresolved issues included wage increases health care benefits Job Security and pensions. About 90 minutes before the contract was to expire both sides announced the current contract would be extended indefinitely. A the tone and mood continue to be very cordial. Both parties decided it would be to everybody a advantage to continue working a Deere spokesman Robert Combs said. Union negotiators had been authorized to Call a strike extend the old contract or reach a tentative agreement. Law members represent a third of Deere a work Force at company plants in Illinois Iowa Georgia Minnesota Colorado and Kansas. A Law contract with Caterpillar inc. Was to expire at the same time As Deere a. However Caterpillar and the Union agreed saturday to an indefinite Extension to allow the Union to focus on the Deere talks. Deere is the worlds largest manufacturer of tractors and farm machinery and has 37,000 workers worldwide. The Union wants to share in the record profits and sales earned by Deere since the old contract was signed in 1988. Deere ended fiscal 1990 last fall with unprecedented profits of $411.1 million on sales and Revenue of $7.8 billion last year. For the first six months of this fiscal year Deere posted $30 million in earnings on $3.3 billion sales and Revenue. The company reduced production 12 percent in 1991 because of slumping demand caused by recession in the major industrialized nations the persian Gulf War and regional droughts. The Law traditionally Aims for a 3 percent wage increase plus regular Cost of living increases for its members