European Stars and Stripes (Newspaper) - November 03, 1991, Darmstadt, Hesse                                Sunday november 3, 1991 the stars and stripes a Page 15�? Money matters Dollar watch shown below Are the highest Dollar Exchange rates for the week of oct. 27 nov. 3 compared with Dollar rates for the same period one year and five years  Pound one Pound would Cost you $1.74 $195 _ $1_42 1991 1990 1996 German Mark one Dollar would buy you is 1-67 1.49 Quot Quot Illi 1990 a military Exchange rate French franc one Dollar would buy you 5.83 5.09 6.68 a  3.u9 i 1��1 i 1990 l 19881 s 11 the Dollar Sank Friday against major foreign currencies on a stunning decline of 1,000 . Nonfarm jobs in october another alarming sign the . Economy is nowhere near real recovery. Before the figures were released economists had expected a gain of non farm jobs of up to 20,000 jobs. In previous . Recessions Job gains averaged 230,000 a month beginning in the fourth Quarter. While Washington said the current recovery began at the end of june employment figures did not reflect an Economy picking up steam. More alarming in the october figures was a 32,000 decline in employment in the manufacturing sector a one area that did show some strength in recent months. In another signal of a stumbling Economy leading economic indicators fell 0.1 percent in september the barometers first setback since january. T pict aled the recent picture of the . Economy revealed a lower than expected expansion of the Gross National product in the third Quarter a 1.7 percent september drop in new orders for manufactured goods and a manufacturing Economy losing momentum. In late new York trading the Dollar fell to 1.6470 German Marks from 1.6725 thursday. As the Greenback retreated to a seven month Low against the main foreign currencies Sterling jumped to $1.7640 from $1.7390. Against other european currencies the Dollar plummeted in new York to 1.4440 Swiss francs from 1.4685, 5.6310 French francs from 5.7150 and to 1,234 italian lire from 1,253. The Greenback began to slide earlier in Europe on the discouraging . Employment figures of 6.8 percent for october. The Dollar fell in Frankfurt to 1.6607 Marks from 1.6735 thursday. In London Sterling Rose to $1.7490 from $1.7440. At . Banking facilities through monday one Dollar will buy 1.63 Marks and one British Pound will Cost $1.79. United press International . Automakers Congress team up to Challenge Japan Washington a members of Congress alarmed by the . Automobile Industry a mounting losses and plummeting sales arc becoming increasingly militant toward a economic warfare that they say is being waged by japanese competitors. House Energy and Commerce committee chairman John Dingell a recent announcement of an investigation into alleged improprieties by a .-based Toyota affiliate was the latest Salvo fired at japanese automakers from Capitol Hill. It comes As the big three . Companies despite their Ever fierce rivalry Are teaming up to enlist Washington a help in challenging japanese trading practices and warding off More stringent safety and environmental regulations. A a there a definitely an unprecedented level of activity with the government a a general motors corp. Spokesman Bill Noack said. A it s a sign of the  another sign of the times came when pm Ford motor co. And Chrysler corp. Posted a combined $4.9 billion in losses for the first three quarters of the year. Earlier the big three had reported a 12.4 percent drop in sales for the 1991 Model year. Japanese sales fell 5.9 percent in the United states. . Automakers acknowledged that they need to continue improving their ears and trucks. But they insisted that the Quality Gap has narrowed significantly and said the japanese raise the Issue to divert attention from their refusal to play fairly. A the american companies Are turning to the government because they have  said sen. Donald Riegle a Mich. A the fact is that Japan has been carrying out an economic invasion of the United states and it is being largely directed by the government of Japan. The events Are different from world War ii. But the effects Are the  a fiddlesticks a retorted Jim Olson spokesman for Toyota motor sales the . Sales Arm of Toyota. A what this country needs to be effective against the japanese is competitive  the big three have worked together this year to generate support in Washington. They filed a petition accusing the japanese of Selling minivans in the United states below production costs to boost their Market share. A preliminary Commerce department ruling is expected this month. The big three chairmen a Chrysler a Lee Iacocca Fords Harold Poling and Gmys Robert Stempel a met with president Bush and granted their first Ever joint interview on the Abc to program nigh line. They played Host to a 40-member House delegation in Detroit and warned that the . Auto Industry was fighting for its life. Meanwhile their congressional allies Are becoming More aggressive a sen. Carl Levin a Mich. Is pushing a Bill aimed at Japan that would Force the Bush administration to retaliate against countries that discriminate against . Products. A House committee has approved similar legislation. O a Senate finance committee chairman Lloyd Bentsen a Texas accused the japanese at a recent hearing of quietly exporting their a Skei Retsuo system to the United states. Under Kei Retsu a Complex network of companies does business Only with members and freezes out competitors. A Bentsen and Riegle accused the Treasury department of forcing the customs service one of its agencies to Back off a decision to Levy $20 million in duties against Honda motor co. The Agency allegedly had found Honda wrongly claimed duty free status for cars shipped to the United states from Canada. A Dingell the Industry s most powerful supporter on Capitol Hill said wednesday that his committee would look into allegations that the distributor of t Toyota automobiles in five Southeastern states had committed numerous wrongdoings including falsifying sales reports. Nose record week Hopes crumble amid gloomy . Economic data new York up the Stock Market began last week with momentum and for a while it looked As if Wall Street would have another record setting performance. After three Days of Advance the Market paused so it could have a clearer View of nations Overall economic picture. Investors did no to like what they saw. Don r. Hays director of investment strategy at wheat first securities inc. In Richmond va., made the right Call when he predicted thursday that the Market would take a three Steps tip two Steps Down. A he said he expected investors to take profit after the markets run up of three Days. But despite the Market s pullback Brad Weekes senior vice president in charge of sales and trading at Donaldson Lufkin amp Jenrette securities corp., was optimistic. He said the Market could still recover. A the Federal Reserve has no alternative but to lower interest rates further because nearly All economic data show that the Economy is weak a Weekes said. For the week the Dow Jones Industrial average gained 51.43 Points to close at 3,056.35, recouping most of the 72.23 Points the key barometer lost last week. Among broader Market indexes the new York Stock Exchange composite Index Rose 4.19 to end the week at 216.01, and the Standard amp poor a 500 Index gained 7.12 to 391.32. Advancing issues outnumbered declines 1,320-690 among the 2,280 issues traded last week. Weekly big Board volume totalled 937,880,008 shares up from 880,246,030 traded a week earlier and 771,462,860 in the same week a year ago. The Market opened the week with a Good head Start recouping More than half of the previous week s losses with the help of bargain Hunting computer driven program buying and encouraging performances by Bonds and the London Market. The Dow rebounded 40.70 to 3,045.62. Stocks rallied for a second Day in Active but Choppy trading tuesday on renewed Hopes a it a further interest rate cuts to Spur the economic recovery. The Dow added an additional 16.32 to 3,061.94. Stocks climbed for a third Day in Active trading wednesday As investors apparently shrugged off conflicting government economic reports and leaned toward Hopes for further cuts in interest rates. The Dow gained 9.84 Points to 3,071.78, just 5.37 Points shy of its All time High of 3,077.15 set oct. 18. Stocks paused thursday As cautious investors waited for , unemployment data on Friday and a possible government response to the figures. The Dow shed 2.68 Points to 3,069.10. Stocks closed the  with modest losses As cautious investors decided to take profits after the government made no move to Spur the stalled economic recovery despite a weaker than  octo Kcf employment report of 6.8 percent. The Dow gave up 12.75 to 3,056.35. On the trading floor this week Rwjr Nabisco holdings paced the big Board actives edging up a a to 10�?T/2. Its Issue of 200 million depositary shares priced at $10,125 began trading Friday. Among the some of the Blue chips ism Rose % to 98%, Philip Morris fell i to 69 /4, at amp to Rose % to 38% and Westinghouse electric Rose 1 to 17%. Volume of nose listed issues including trades in stocks on regional exchanges and in the Over the counter Market totalled 1,128,112,628 shares up from 1,068,205,540 traded in the previous week and with 945,510,410 a year ago. On the american stick Exchange the amex Market value Index shed 0.46 to close Friday at 386.85. For the week the Index Rose 10.42. Advances led decline Market update activity for the week of oct. 28 a nov. 1,1991dally Dow closet 3100 30s03000 2950 29002850 2800 m w the f highest close 3,071.73-wed. Weeks High 3,091.91-Fri. Lowest close 3,045.62-Mon. Week s Low 3,001 57-Fri. Weeks change up 51.43 a Sas 475-366 among the 1,030 issues traded Tor the week. Amex volume totalled 78,137,680, com ared with 74,262,435 shares a week ear Ier and with 47,233,625 in the same week a year ago. Rhone poulenc convertible rights led the amex actives off 15-16 to 1 11-16. R ii