European Stars and Stripes (Newspaper) - November 2, 1991, Darmstadt, Hesse                                Saturday november 2, 1991 the stars and stripes b Page 17 Money matters today a tip Ual corp., Parent of United airlines said thursday its third Quarter net income fell More than 76 percent because of the sluggish Economy and Cut rate ticket prices. Chairman Stephen m. Wolf called the results disappointing and said United and other carriers will continue to perform poorly until the Economy improves or Steep discounts on fares Are  a net income of $25 million or $1.05 per share was worse than the $1.70 to $2.70 per share that analysts expected prompting a Strong negative reaction on Wall Street. Ualk a Stock fell $2 per share thursday to $132.75. The earnings for the three months that ended sept. 30 compared with net income of $106.1 million or $4.87 per share,.for the same period last  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 Dollar Gold was quoted at $357.75 an ounce Silver at s4.11. Oct. 31 nov. 1 British pound.1.7440 1-?490 German mark.1.6735 1.6607 French franc.5.7195 a dutch guilder.1.8820. 1.8825 belgian franc.34.43 a italian lira.1,253.95 a Swiss franc.1 4685 1.4625 greek drachma.187.35 187.04 turkish lira.4,914.90 4,913.80 saudi arabian riyal.3.7501 3.7501 Spanish peseta.105.37 105.18 portuguese escudo.143.88 143.58 Canadian dollar.1.1224 1.1223 austrian schilling.11.7790 11.7450 norwegian krone.6.5620 6.5490 danish krone.6.4960 6.48 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 monday based on fridays noontime  York Exchange new York up York Stock Exchange Stock Rwjr Nabisco hid adv Micro  total co franc data general up Amer express Philip Morris Glaxo holdings Citicorp in pharm inc Westinghouse Al Natl City Cor Rwjr Nabisco of syntax corp at amp to company Rhone Poult ror the 15 most Active stocks in new composite trading on thursday. Satan last Natch. 7,203,200 10% unch 6.743.300 12% up 1% 2.831.000 22v up 1% off 3% 2.243,300 17% 1,936,400 19 off % 1.822,600 70% up 1.649.000 55% off % 1.632.200 11% up % 1,592,700 11 �?T/4 up 1% 1.545.800 17% unch 1.518.000 35% off 1 1,471,300 37% 011% 1,447,400 45% up 1% 1,400.500 38% up 1,362,800 58% up 6% american Exchange new York up the 10 most Active stocks in Stock Rhone Poul cart dog corp tubes de Acero Amdahl corp response tech Igi inc Hill Haven corp Conti air Hodgs pref hath care fruit of loom Sain last Ratcli. 3,204.600 1% o�13-16 1,249,700 3% up 1% 792,100 10% Oil % 465.600 15% up % 458.000 8% up 1 378.800 14 up 1 376,400 1% Oft % 371.300 1% up % 358.000 13% up % 344.600 22% up Dow Jones new York up Dow Jones closing Range of averages thursday 30 industrials 20 transport 15 utilities 65 stocks hied 3091.01 1293.72 21733 111835 Low 304562 1268 68 21507 1101.13 Clou 3069.10 1283.07 21601 1110 22 co too 0112 68 up 0 75 Oft 0 56 0 10 79 a amps Jim Dertien the last trans Atlantic pan am flight departs from Frankfurt for new York via the Washington d.c., area. The airline began crossing the Atlantic in 1951 with travel to and from West Germany. It also was the first to bring the 747 a a jumbo Jet to the Frankfurt Airport in 1970. Delta joins Mega Carrier Ranis As it climbs into pan am cockpit from staff and wire reports new York a pan american world airways surrendered most of its overseas turf thursday As Delta air lines took Over. It was the worlds biggest Transfer of International routes authorities said and the end of an Era for pan am the Pioneer of commercial aviation that failed to adapt to changes brought on by the airline deregulation in 1978. In Germany pan am bid on Friday a nostalgic a thank you Good Bye Good Luck to its customers with half Page ads in Frankfurt a major newspapers the Frankfurter All Gemeiner and the Frankfurter Mundschau. A we placed the and Only in Frankfurt because it was our Home base a a spokeswoman for pan am said. The advertisement conjured up the Early postwar years when Frankfurt became the Hub of european air flight. It reminisced about How the a Blue balls logo became a Symbol of Hope and understanding As it flew the air corridor Between Frankfurt and the divided City of Berlin. Jets bearing pan am a Blue Globe logo were scheduled to pull out of 29 cities across the Atlantic for the last time Friday. Pan am will continue to survive As a smaller latin american Carrier based in Miami. A a it a not its former self. It hurts from a personal Point of View and a company Point of View a said Bernie Lyons a Pilot who joined pan am in 1966 and is remaining with the Carrier. But he and others were Happy to see the former unofficial . Flagship Carrier stay in the air even in a shrunken form. Delta got the pan am service into All but Barcelona and Madrid Spain because of a quirk in the .-Spanish aviation treaty that allows Continental airlines to Fly into Madrid from the new York area and keeps Delta out for now. The move puts Delta firmly into the ranks of the so called a Omega carriers with american airlines and United airlines. The other cities pan am is leaving Are 9kthcns, Greece Helsinki Finland Istanbul Turkey Lisbon Portugal Rome and Milan Italy Nice France Oslo Norway Stockholm Sweden Amsterdam Netherlands Berlin Frankfurt Hamburg Munich and Stuttgart Germany Brussels Belgium Moscow Tel Aviv Israel Zurich and Geneva Switzerland Bombay and Delhi India Bucharest Romania Budapest Hungary Prague Czechoslovakia Vienna Austria and Warsaw Poland. For Delta 21 of those cities will be new destinations. The Atlanta based Carrier already served the German cities and Amsterdam. Even though both airlines viewed fridays changing of the guard As a new beginning it marked the end of pan am As an aviation institution from a sentimental standpoint. Pan am was founded by a Young entrepreneur Juan Trippe in the late 1920s, when crowds would gather at county fairs tit watch barnstormers Fly by in open cockpit planes. It was first with so Many things for so Many years such As the first scheduled passenger flights across the Atlantic and Pacific and the first to use the 707 and the 747. Pan am even used to dream of flying people to the Moon. . Factory orders decline again Washington a orders for manufactured goods dropped 1.7 percent in september for the second straight decline the government said thursday raising fears of production and Job cuts in an economic sector that was doing Well. A it says the recovery is in trouble a said a David Jones an economist with Aubrey g. Lanston amp co., a new York securities dealer. The glum news from the Commerce department on orders for manufactured goods was underlined by a monthly report from the National association of purchasing management which said growth in the manufacturing Economy slowed in october. The association which tracks the Economy through the monthly Survey of its members said its Index of business activity fell to 53.5 percent last month from 55 percent in september. Anything Over 50 percent indicates the manufacturing Economy is expanding but the drop in october indicates the sector is growing at a slower Pace. The Commerce department said orders for durable and non durable goods shrank to a seasonally adjusted $238.9 billion Down from $243.2 billion in August. The report also showed that orders in August tumbled 2 percent steeper than the 1.9 percent decline in the departments initial estimate. The manufacturing and housing sectors had been regarded As the strongest areas of the recovery. But housing also has weakened with new Home sales and housing starts falling in september. Existing Home sales have dropped for three straight months. Unfilled factory orders fell 0.6 percent the third straight decline while shipments Rose 0.2 percent Lor the sixth consecutive climb. A a that Means shipments Are going out faster than orders Are coming in a Jones said. A that Means layoffs Shorter workweeks and weaker employment in subsequent  still some analysts were encouraged by a 0.4 percent increase in inventories the first growth in stockpiles since last february. Michael p. Niemira an economist with Mitsubishi Bank in new York said the growth suggested an end to the inventory liquidation Cycle in anticipation of growing demand. But he added that before the a second leg of the recovery is in place we will see a period of weakness Quot lasting through the fourth Quarter