European Stars and Stripes (Newspaper) - October 15, 1991, Darmstadt, Hesse                                Tuesday october 15, 1991 the stars and stripes b Page 17 a. A Money matters today s tip plans for flexible fringe benefits could mean big tax savings for Small businesses and their employees a Washington accounting firm suggests. The Grant Thornton firm said that Only 31 percent of the companies that responded to its Survey said they offer a cafeteria plans a which permit employees to select the benefits they need most. Any Money a worker pays for such coverage is exempt from social Security and income taxes which Benefit employers As Well. A Over the past few years businesses and individuals have become severely limited in the number of tax deductions available to them a noted Andrew e. Zucker Man of Grant Thornton a Washington office. The tax saving available from cafeteria plans a can help to offset the spiralling costs of health care in this country a he said. More sophisticated cafeteria plans offer workers such options As life insurance dependent care and retirement savings in addition to a variety of health care plans. They also include provisions designed to contain growing health care costs. Conversion rates London up mondays 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 $358.75 an ounce Silver at $4 09. Oct. 11 oct. 14 British pound.1.7185 1.7165 German mark.1.6920 1.6980 French franc.5.7665 5.7720 dutch guilder.1.9080 1.9060 belgian franc.35.0175 34.8700 italian lira.1,267 00 1,266.60 Swiss franc.1 4830 1.4820 greek drachma. 188 40 188.20 turkish lira.4,817.80 4,826 50 saudi arabian riyal.3.7502 3.7503 Spanish peseta.107 02 106 69 portuguese escudo.145.62 145.33 Canadian dollar.1.1288 1.1288 austrian schilling.11.9180 11 9000 norwegian krone.6 6300 6.6200 danish krone.6.5290 6 5190 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 1.65 through tuesday based on mondays noontime Price fixing. Finance minister in Japan resigns Tokyo up a finance minister Ryutaro Hashimoto resigned monday to take responsibility for a series of scandals that rocked the banking and brokerage sectors and triggered outrage among investors. Hashimoto had offered to. Resign at the beginning of the month after parliament passed into Law the Bill he championed Banning payments from brokerage to favored clients who suffered Stock Market losses. But prime minister Toshiki Kaifu insisted Hashimoto first represent Japan at a meeting of g-7 finance ministers in Bangkok Thailand. Hashimoto returned from Bangkok Early monday and promptly tendered his resignation again. Kaifu accepted it a government official said. Soviets get Hearty applause despite sputtering Economy Bangkok Thailand a International monetary fund officials say the soviet Union has begun a a a magnificent relationship with the Lender it once spurned but they expressed concern monday Over soviet economic stability. Carlos Sorchaga chairman of the if s powerful interim committee described As a disquieting Quot a report of possible breakdowns in Confidence in the soviet monetary system. He cited a report to his committee sunday outlining Price instability and disruptions in the transportation and distribution system in the soviet Economy Lack of Basic supplies and Industrial maintenance and a dearth of vital statistics. A perhaps the most disquieting was the possibility of a breakdown in Confidence in the monetary institutions Quot Sorchaga told a news conference. He and if managing director Michel Ca Dessus praised these a Frank and eloquent Quot assessments by Grigory Zavlinsky a key advocate of Reform who is leading the soviet delegation to the annual conference of the if and world Bank. Moscow is Only an associate member of the if but is seeking full status. A it was a magnificent Start of a relationship Between the soviet Union and the if which will allow us to cooperate in the transformation of that great country a said Sorchaga who is also Spain a Economy and finance minister. Sol Chagay a comments followed a historic agreement sunday by which the major Industrial democracies will help the soviet Union restructure its Economy from the ruins of socialism and join the world economic Community. A communique issued bythe group of seven finance ministers after two Days of talks with the soviets made no specific pledges of assistance apart from the billions of dollars in humanitarian Aid and technical help already promised. But officials of the United states Japan Germany France Italy Canada and Britain described the meeting As historic because it marked the first time the soviet Union had sought such Broad assistance from the West in refolding its Economy along Western lines. A what we arc seeing Here is really for the first time the soviet Union engaging the West in a level of detail which is unprecedented a . Federal Reserve Board chairman Alan Greenspan told reporters. A we Are actively engaged in discussions on a Range of issues which will shift a centrally planned Economy to a Market  Moscow faces a Host of immediate and a Moscow woman and her two sons help Harvest carrots sunday. The soviets face a Host of economic problems including possible food shortages this Winter. Long term economic problems including repayment of an estimated $68 billion debt to possible food shortages this Winter. The 22-member interim committee which advises the i mfg a Board of governors on key issues also discussed a global economic growth. A ongoing efforts to liberalize world Trade. A third world debt. A the situation in Eastern Europe. Ca Dessus said that a formidable transformations were of curing in the world including a the dramatic changes in the soviet Union and Eastern Europe. A the end of apartheid in South Africa. A a a general acceptance of the free Market economies the if and world Bank have Long advocated. Prices firm but Dairy Farmers getting less Washington a retail cheese and milk prices have dropped Only slightly since raw milk prices began a free fall at the farm Congress investigative Agency says. A somebody is making a lot More while Dairy Farmers Are making a lot less a sen. Patrick Leahy d-vt., said in releasing the report sunday. A retailers and others Are making a fast Buck while Dairy Farmers Are losing thousands of dollars a charged Leahy chairman of the Senate agriculture committee. The general accounting office found that raw milk prices paid to Farmers declined 21.5 percent nationwide from a gust 1990 through april 1991. But National retail prices for milk cheese and processed Dairy products actually increased from August through october 1990 before dipping slightly through May 1991. Specifically the retail Price Index for milk tumbled 4.6 percent cheese fell by 0.7 percent and processed Dairy products dropped 0.2 percent. David Senter National director of the american agriculture movement said he is convinced there has been Price gouging by middlemen and retailers As increasing numbers of Farmers Are forced to liquidate their herds because of the Low prices. A the Price gouging is what a been going on to just merely increase profits a retailers maintaining slightly larger margins and the processors Ami handlers increasing their spread As Well a Senter said. But Scott a Mininger spokesman Lor the milk Industry foundation said farm prices Are just one of the Many components of retail Dairy prices which also reflect the costs of labor fuel packaging transportation research marketing and promotion. The Gao said it could not determine what caused the Large difference Between farm milk and Dairy retail prices due to a