European Stars and Stripes (Newspaper) - October 10, 1991, Darmstadt, Hesse                                Pago 18 a the stars and stripes thursday october 10,1991money matter today s tip the Pacific Stock Exchange has announced that it will close trading 20 minutes later beginning oct. 24. Currently the use trades until 4 30 . Eastern time. The new York Stock Exchange in june started two sessions that extend trading beyond the Normal 4 . Closing Bell until As late As 5 15 . Lee Korins Exchange chairman and chief executive said the Exchange was extending its Day to 1 50 . Pacific time to provide better service to member firms and investors in the Western parts of the country. The Nyser slate trading is conducted by computers that match up orders to buy or sell at the prices set at the Days 4 . Close. A orders coming to the Pacific after hours Are More Likely to be executed at prices better than prevailed at 4 . Eastern time. This is a great Opportunity for brokers1 and investors to have a second crack at the Market a Korins said. Conversion rates London up1 a 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 $357.50 an ounce Silver at $4.08. Oct. 8 oct. 9 British Pound.1.7170 1.7015 German mark.1.6945 1.7070 French trans. 5.7500 5.8100 dutch guilder.1,9100 1,9238 belgian tranc.34,7750 35.1500 italian lira.1,261.25 1,274.50 Swiss franc.1.4790 1.4920 greek drachma.187.77 189.78 turkish lira.4,767.80 4,814.20 saudi arabian riyal.3.7504 3.7502 Spanish peseta.106.47 107.72 portuguese escudo.145.04 146.93 Canadian dollar.1.1262 1.12b7 austrian schilling.11.8700 12,0150 norwegian krone.6.6000 6.6790 danish krone.6.4990 6.5800 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 British pounds to . Personnel for personal use. Through thursday this will be $1.75 for a Pound based on a Price fixing wednesday afternoon at military banking facilities. New York Exchange new York up a York Stock Exchange the 15 most Active stocks in new composite trading on tuesday. Stock Salti Lait net chg. We stings Al 6,928,100 18 off 1 Nall med ent 5,471,900 17 up 1 i telent de Max 4.411,000 4m up 2 Amer express 2,681,000 20 a up a at amp to company 2,674,700 37 up i Citicorp 2,371,300 13 a off Rwjr Nab a bldg 2,153,900 10a unch genl elec 1,540,800 67 off i Philip to 1,537,400 71 up ism Corn Bristol m s 1,438,800 96 on a 1,422,300 am up a Chrysler up 1,365,400 10 i up Pepsico inc 1,246,500 29 up i Procter amp Gamb 1,194.100 Bivi off 2 Ford motor 1,100,600 30 off american Exchange new York american Stock Stock metro mob b fruit of pm Conti air i Porta system giant cd a what Hertford Hll Haven up Amdahl corp system bids am Model bldg up a the 10 most Active stocks in Exchange composite trading tuesday. Soloi 793.000 451.100 397.000 31b.800 274,400 266.200 232.500 201.100 191.500 183,900 Lott 20 19 a m 191/ 22 5 2 13 i 4 9 net chg. Up i up a unch off i up a up i up a up i off i unch Dow Jones new York up Dow Jones closing Range of avenges tuesday he Low a Kjile 30 industrials 298368 2927.77 2963.77 20 transport 1195.07 1172.27 1188.34 i Stellter 213.57 211 25 212 82 65 stocks 1069.03 105015 106271 change up21.u2 up 9.90 up 0.31 up 7 02 banking regulations eased in Hopes of inducing Loans Washington up the Bush administration said tuesday that it will attempt to ease the credit crunch by allowing Bankers to Appeal unfavourable examinations of their books directly to senior government regulators. The administration also called on regional Bank regulators to make sure their examiners Are not being too restrictive on Bank lending practices and encouraged Bankers to work with borrowers who Are experiencing temporary financial difficulties. A cutback in Bank Loans has been cited As one of the causes of the economic recession and its anaemic recovery. Many Bankers say they have clamped Down on loan applicants because of pressure from regulators who want to prevent another crisis like that in the ailing savings and loan Industry where bad Loans and fraud will Cost taxpayers at least $191 billion. Heeding the Bankers cry administration officials released new directives for the nations 7,000 Bank examiners following a meeting Between Bush and his top economic advisers. The directives Are designed to allow Bankers to Appeal examiners decisions directly to senior government officials or top Federal Reserve officials rather than having to go through a bureaucratic appeals process Many avoid for fear of retaliation by their examiners. John Robson Deputy Treasury Secretary insisted the administration is not telling regulators to go easy on Banks but rather telling them to strike a responsible balance. Robson said he does not want regulators either a padding Banks with powder puffs or attacking them with Chain saws. You want to be in the  Treasury Secretary Nicholas Brady talking to reporters before he boarded a plane for a group of seven industrialized nations meeting in Bangkok Thailand described the administration plan As an attempt to instill a common sense in the regulatory process. House banking chairman Henry b. Gonzalez a Texas however predicted the new measures a will have a chilling effect on examiners who Are trying to enforce regulations in the Field. Quot this will be another replay of the Type of end runs that Charlie Keating employed loan in keeping Lincoln savings and an afloat with disastrous and costly results for the taxpayers a he said. Blacks forming investment clubs to make Money understand Market by Cox news service friends and Money like Oil and water usually should be kept separate. But Julie Foster thought they could make a Good mix. So two years ago the Atlanta tax attorney invited 26 acquaintances a other attorneys an architect and a businesswoman a to join an investment club for Blacks. Thirteen did. A i compiled a list of people i Felt i could invest with and who would Click with each other a Foster said. A the goals were to make Money and learn How to understand the Stock Market. Historically the Stock Market has been a Good place to make a return on your Money although it is very risky and  the group organized a partnership the Atlanta women a investment club. Each member invested $500 and puts $50 a month in club coffers for investments. In its first year the club got an impressive 30 percent return on investments. This year it is averaging 35 percent. Still there is a lot to learn according to Foster. A a we re in the learning phase Quot she said. A i think we As Black people and As professionals need to look at Long term financial planning and not spend every Penny we  a growing number of Black investors Are taking that View. But that Hasni to always been the Case. Historically Blacks have not had the discretionary income for investments. Those who did preferred less risky vehicles such As savings accounts insurance and real estate. Now with greater disposable income and an Eye to the Long haul they Are pooling resources through investment clubs. The lure is More mileage for the Dollar with limited risk. The average investor puts in $10 to $20 a month according to the National Asso i think we As Black people and As professionals need to look at Lon term financial planning and not spend every Penny we make a Julie Foster Atlanta tax attorney citation of investors corp., a non profit organization of 7,300 investment clubs nationwide including about 120 in metropolitan Atlanta. Although Black clubs Are not tracked separately interest is mushrooming. Make no mistake Money is a top priority. But there is some concern about social and political issues. A investing in South Africa amounts to supporting apartheid a Foster said. A we would have a problem with  a we will maintain a social consciousness when we spend and invest our Money Quot said Patrick d. Mcelroy assistant presiding partner of it capital group an investment club formed in june by the Atlanta chapter of the National Black mba association. The initial fee was $100, and the 31 members pay $35 a month. While most members Are Mas the group also includes engineers Bankers and certified Public accountants. A was i go to our meetings around the country there a a Good Black representation a said National association of investors spokesman Thomas of Hara. At recent meetings in Richmond and in Lansing mich., 10 percent to 12 percent of the participants were Black of Hara said. A a the interest just seems to be real substantial a he said. A the Black clubs have been successful and the word gets  investment clubs Are usually made up of 10 to 20 members formed by people who have known one another in the past. That includes family members Church groups co workers and professional associations. A we stress to people attracted to the clubs that while they be got a Good Opportunity its not a get Rich Quick thing a of Hara said. A the goal should be to double your Money every five  Indianapolis picked As postal Hub Indianapolis up Indianapolis International Airport was chosen tuesday As the site of a $67 million . Postal service Hub that will create 250 jobs and boost the local Economy by about $800 million yearly officials said. Indianapolis was chosen from among 30 communities in five states vying for the Hub site designation. The postal service anticipates expansion of the Hub will necessitate the construction of a 237,000-Square-foot building on an 80-acre site with an additional 56 acres reserved for air plane parking. Other Indiana Sites in Contention for the Hub designation were Terre haute fort Wayne Ard Grissom fab. Sen. Dan Coats r-ind., who lobbied for one of the Indiana Sites to be selected by the postal service said he was very pleased at the outcome. Sen. Richard g. Lugar rind., joined in welcoming the news. Quot this is great news for Marion county and the Central Indiana Region a Coats said. Emery air freight corp. Now operates a temporary Hub employing about 500 workers at Indianapolis International Airport but postal officials consider it too Small for the growing volume of express mail. Express mail volume jumped 10 percent Between 1989 and 1990, growing from 53.3 million pieces to 58.6 million officials said. In Washington postal service spokesman Lou Eberhardt said express mail is a Small fraction of total volume but a significant source of Revenue. Express mail last year brought in $631 million. The new Hub will handle two types of mail express which is guaranteed for delivery the next business Day and priority which takes two Days for delivery. The Hub will not be a sorting Center but a place for transferring sacks or Metal containers of express mail and priority packages from one air plane to another. A starting Date for construction will depend on the construction contract Winner officials said. The Hub is expected to be operating however by october 1992