European Stars and Stripes (Newspaper) - November 7, 1991, Darmstadt, Hesse                                Page 18 a the stars and stripes thursday november 7, 1991money matters Bank one plans to offer Consumers a new 13.9 percent credit card a almost 5 percentage Points below the National average. The new card the Bank said features a 25-Day Grace period and carries a $25 annual fee. Customers can choose Between Mastercard and visa. The new card is available to anyone in the country subject to credit approval the Bank said. Banc one corp. Operates 50 Banks with 826 offices in Indiana Kentucky Michigan Ohio Wisconsin Illinois and Texas. Conversion rates London up 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$354.40 an ounce Silver at $4.06. Nov. 5 nov. 6 British Pound.1.7695 1.7761 German Mark .1.6425 1.6375 French franc.5.6130 5.5975 dutch guilder.1.8510 1.8525 belgian franc.33.80 33.74 italian lira.1,230.50 1,228.00 Swiss franc.1.4490 1.4463 greek drachma.184.74 184.60 turkish lira.4,890.60 4,890.40 saudi arabian riyal.3.7503 3.7501 Spanish peseta.103.30 103.04 portuguese escudo.141.44 140.72 Canadian dollar.1.1211 1.1224 austrian schilling.11.5600 11.5260 norwegian krone.6.4340 6.4230 danish krone.6.3645 6.3560 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 $1.82 for a Pound based on a Price fixing wednesday afternoon at military banking facilities. New York Exchange new York up a tha 15 most Active stocks in new York Stock Exchange composite trading on tuesday. Stock Rwjr Nabisco pop Rwjr Nabisco hid Salomon Kic Compaq computer Maxis Energy toys r us inc Amer express Pepsico inc Wendy s inti Glaxo holdings general motors at amp to company Philip Morris get corp ism corp Saler 4.678.000 3.690.000 2,895,300 2.761.000 1,786,200 1,749,900 1.744.100 1.346.600 1.319.100 1.301,400 1,282,800 1.282.600 1.272.600 1,234,500 1.171.600 Lett 10v5r 10�?T/4 28v& 27% 3% 26% 18% 28% 8% 55v 33% 38% 68% 33% 96% let chg. Of off % off 1% up 1% off % off % off off % off % up % ii off % unch unch off american Exchange new York up american Stock exc sleek fruit of loom go video inc magma Copper co Western digital Echo Bay mines Americus get so Nabors Industry Organogenesis Wang labs inc b Hll Haven corp a the 10 most Active stocks in Iange composite trading tuesday. Salat last net chg. 1.238,000 24% up % 524,300 1% up % 336,400 7 up % 278,100 2% Oft % 266,100. 7% up % off % 258.300 10% 249,700 7% up % 246,400 19% unch 236,700 2% unch 197,800 -1% off Vic Dow Jones new York up Dow Jones closing Range of averages tuesday 30 industrials 20 transport 15 utilities 65 stocks he 3062.84 1286.81 21639 1110.13 Low 3015.88 1267.38 213.82 1093.74 3031.31 1274.29 214.76 1099.33 Cham 0 114.31 Oft 6.73 off 0.44 off 4.94 Gas prices up a bit new York apr gasoline prices at the pump showed a modest increase for the week ending tuesday the american automobile association reported. The average nationwide Price for a gallon of self serve regular unleaded was $1.13, up .4 cent said the Auto clubs Survey for the week. Health care groups agree to National Billing system by the Washington Post Washington Secretary of health and human services Louis w. Sullivan reached agreement with major health groups tuesday to develop a uniform nationwide Billing system for health insurance that Sullivan said could eventually save More than $20 billion a year by cutting paperwork. A americans should go the doctor to be cured of their illnesses not be made sick by the paperwork a Sullivan said. Sullivan spoke after a closed door a insurance Summit with leaders of the health insurance association of America Blue Cross Blue shield the american Hospital association the american medical association and other groups. Under the Billing proposal every per son with private or government health insurance would receive a computer encoded a a smart card that could be presented to a Hospital doctor or other provider of health care services. It could be used for instant electronic Access to a Central data base containing the patients lifetime medical records and insurance coverage rights. Sullivan said it will be some years before the system is Complete and a major unsettled problem is protecting the confidentiality of patient records. Impetus for the a a Summit came in part from widespread publicity Given to estimates in a general accounting office report and in the new England journal of Medicine that the United states could save up to $100 billion a year in paper work costs by adopting a National health insurance system like that in Canada. Sullivan who opposes the governments becoming the insurer disputes the savings estimates. But he said savings of Between $20 billion and $50 billion might be achieved by adopting the uniform Billing system to current health care delivery. Sullivan said that under the system patients would not have to repeat their medical histories each time they went to a different doctor or fill out duplicate forms. Instead insurance spokesmen said the provider of services could use a the card to Bill the insurer for what it was obligated to cover and Tell the Satiem immediately How much More he or she owed if anything. Auto sales continue to sputter Auto Sale trends during 1991, Auto sales by . And japanese automakers have been heading in opposite directions. Here is a breakdown of the year s sales. Company latest year ago change pm 2,371,432 2,714,260 f 12.6% Ford 1,344,413 1,623,524 f 17.2% Chrysler 537,113 674,269 f 20.3% Honda 419,708 401,745 # 4.5% Nissan 96,249 91,575 # 5.1% Toyota 281,005 297,281 ? 5.5% Mazda 69,337 63,597 # 9.0% Mitsubishi 59,254 42,319 # 40.0% Detroit apr automakers Are looking for another round of interest rate cuts to jump Start the . Auto Industry which stalled in late october As sales of North american made cars and Light trucks dropped 12.7 percent. The decline in figures released tuesday gave no indication whether the embattled Industry is heading out of the slump it entered two years ago. A a there a been no fundamental change yet in the retail Auto Market a said Ford motor co. Vice president Robert Rewey. A while Many of the ingredients for an upturn already Are present there May not be a significant improvement until Consumers become More confident about the economic Outlook. A news of lower interest rates would be a positive  but the chief economist for the National automobile dealers association said lower interest rates wont make much of a difference. A it appears we re beating a dead horse a Tom Webb said. A no matter How Low the interest rate its difficult to get a financially strapped and psychologically skittish consumer to sign a five year contract to buy a new  sales declined across the Board. General motors corp. Reported a 11.3 percent drop in its sales of North american made cars and trucks during the oct 21-31 period this year compare with last year. Ford said its sales during Chrysler corp. Reports sales on Only it monthly basis. An associated press Esti the period fell by 16.9 percent. Zit this mate based on the company a average Market share Over the past 12 months showed Chrysler a sales fell 22.4 percen during late october. For All of october sales of Domestic and imported cars and trucks from Al major makers were 10 percent lower thar last year with car sales Down 10.9 per cent and truck sales off 8 percent. Through the first 10 months of Thi year total car sales declined 12.5 percen compared with last year and truck Sale were Down 11.6 percent. Sales of big three vehicles were Down 14.3 percent while sales of japanese cars Ana truck declined 4.6 percent. In car sales alone Chrysler is in the no. 5 spot through october trailing pm Ford Honda and Toyota. But Chrysler truck sales allowed it to keep a firm Grig on the no. 3 spot. Rise in productivity gives Economy a Silver lining by the new York times caution and Cost cutting May be slowing Down the Economy but they Are having the opposite effect on the country a efficiency. The Bureau of labor statistics reported tuesday that productivity in the . Economy outside of farming Rose a healthy 2.4 percent last summer the first gain in a year and the fastest Pace since the summer in 1988. Economists who cautioned that the gain could be later revised away greeted the report As a hopeful sign. A the economic environment is Tough a said Stephen s. Roach of securities brokerage firm Morgan Stanley inc., a but the Silver lining is  the spurt in efficiency May partly be a product of efforts a some begun years ago a by service companies to automate streamline operations and squeeze overhead. A new technology has allowed us to grow without adding people a said Kenneth a. Macke chairman and chief executive of Dayton Hudson corp., a Minneapolis based retailer with 750 stores around the country. A a it a allowed us to work faster and  productivity almost always revives after recessions As businesses hold off on adding new hands and employees work harder. The question is whether the productivity will perform equally Well in the fourth Quarter when economists expect the growth in the Gross National product to slow to a 1.5 percent rate or less compared with a Gnu growth of nearly 2.5 percent in the summer. Last Summers Rise in output for each hour worked reflected the fact that nonfarm business output increased a solid 3 percent rate while hours worked inched up at just a 0.6 percent Pace. The productivity increase typical in the Early stages of a recovery augurs Well for inflation profit margins and eventually pay. Mcdonnell division warns of layoffs St. Louis apr employees with Mcdonnell Douglas missile systems Are being told to expect More layoffs soon because of declining defense business. Spokesman Tom Young said tuesday that the notifications were in an internal memorandum that should be in the hands of employees by wednesday. He said layoffs Are planned at missile systems plants in Florida and Missouri. The number of layoffs has yet to be determined but will be significantly fewer than the 700 layoffs made a year ago Young said. Mcdonnell a missile division employs 6,200 workers nationwide at Titusville fla., and at St. Louis and St. Charles in Missouri. The layoffs will be made from All programs As part of a Cost reduction program that began last year. Missiles manufactured by Mcdonnell include the Harpoon and the Tomahawk cruise missile